Cover Page
Cover Page | 6 Months Ended |
Jun. 30, 2020shares | |
Cover [Abstract] | |
Document Type | 10-Q |
Document Quarterly Report | true |
Document Period End Date | Jun. 30, 2020 |
Document Transition Report | false |
Entity File Number | 000-29480 |
Entity Registrant Name | HERITAGE FINANCIAL CORP |
Entity Central Index Key | 0001046025 |
Amendment Flag | false |
Document Fiscal Year Focus | 2020 |
Document Fiscal Period Focus | FY |
Current Fiscal Year End Date | --12-31 |
Entity Incorporation, State or Country Code | WA |
Entity Tax Identification Number | 91-1857900 |
Entity Address, Address Line One | 201 Fifth Avenue SW, |
Entity Address, City or Town | Olympia |
Entity Address, State or Province | WA |
Entity Address, Postal Zip Code | 98501 |
City Area Code | 360 |
Local Phone Number | 943-1500 |
Title of 12(b) Security | Common stock, no par value |
Trading Symbol | HFWA |
Security Exchange Name | NASDAQ |
Entity Current Reporting Status | Yes |
Entity Interactive Data Current | Yes |
Entity Filer Category | Large Accelerated Filer |
Entity Small Business | false |
Entity Emerging Growth Company | false |
Entity Shell Company | false |
Entity Common Stock, Shares Outstanding | 35,908,908 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Financial Condition (Unaudited) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
ASSETS | ||
Cash on hand and in banks | $ 100,872 | $ 95,039 |
Interest earning deposits | 314,203 | 133,529 |
Cash and cash equivalents | 415,075 | 228,568 |
Investment securities available for sale, at fair value, net (amortized cost of $846,839 and $939,160, respectively) | 879,927 | 952,312 |
Loans held for sale | 3,783 | 5,533 |
Loans receivable | 4,666,333 | 3,767,879 |
Allowance for credit losses on loans | 71,501 | |
Allowance for credit losses on loans | (36,171) | |
Loans receivable, net | 4,594,832 | 3,731,708 |
Other real estate owned | 0 | 841 |
Premises and equipment, net | 86,897 | 87,888 |
Federal Home Loan Bank stock, at cost | 6,661 | 6,377 |
Bank owned life insurance | 107,401 | 103,616 |
Accrued interest receivable | 17,813 | 14,446 |
Prepaid expenses and other assets | 194,224 | 164,129 |
Other intangible assets, net | 14,807 | 16,613 |
Goodwill | 240,939 | 240,939 |
Total assets | 6,562,359 | 5,552,970 |
LIABILITIES AND STOCKHOLDERS' EQUITY | ||
Deposits | 5,567,733 | 4,582,676 |
Junior subordinated debentures | 20,741 | 20,595 |
Securities sold under agreement to repurchase | 24,444 | 20,169 |
Accrued expenses and other liabilities | 155,789 | 120,219 |
Total liabilities | 5,768,707 | 4,743,659 |
Stockholders’ equity: | ||
Preferred stock, no par value, 2,500,000 shares authorized; no shares issued and outstanding, respectively | 0 | 0 |
Common stock, no par value, 50,000,000 shares authorized; 35,908,908 and 36,618,729 shares issued and outstanding, respectively | 569,329 | 586,459 |
Retained earnings | 198,342 | 212,474 |
Accumulated other comprehensive income, net | 25,981 | 10,378 |
Total stockholders’ equity | 793,652 | 809,311 |
Total liabilities and stockholders’ equity | $ 6,562,359 | $ 5,552,970 |
Preferred Stock, No Par Value | $ 0 | $ 0 |
Preferred Stock, Value, Outstanding | $ 0 | $ 0 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Financial Condition (Unaudited) (Parenthetical) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Statement of Financial Position [Abstract] | ||
Amortized cost | $ 846,839 | $ 939,160 |
Preferred stock, shares authorized (in shares) | 2,500,000 | 2,500,000 |
Common stock, no par value (in usd per share) | $ 0 | $ 0 |
Common stock, shares authorized (in shares) | 50,000,000 | 50,000,000 |
Common stock, shares issued (in shares) | 35,908,908 | 36,618,729 |
Common stock, shares outstanding (in shares) | 35,908,908 | 36,618,729 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
INTEREST INCOME | ||||
Interest and fees on loans | $ 48,404 | $ 48,107 | $ 94,681 | $ 94,806 |
Taxable interest on investment securities | 4,570 | 5,933 | 10,203 | 11,756 |
Nontaxable interest on investment securities | 977 | 893 | 1,733 | 1,843 |
Interest on other interest earning assets | 43 | 283 | 463 | 618 |
Total interest income | 53,994 | 55,216 | 107,080 | 109,023 |
INTEREST EXPENSE | ||||
Deposits | 3,417 | 4,017 | 7,633 | 7,620 |
Junior subordinated debentures | 218 | 340 | 503 | 694 |
Interest Expense, Other | 46 | 323 | 80 | 385 |
Total interest expense | 3,681 | 4,680 | 8,216 | 8,699 |
Net interest income | 50,313 | 50,536 | 98,864 | 100,324 |
Financing Receivable, Credit Loss, Expense (Reversal) | 28,563 | 36,509 | 2,287 | |
Provision for credit losses | 25,941 | 1,367 | 35,905 | 2,287 |
Net interest income after provision for credit losses | 21,750 | 49,169 | 62,355 | 98,037 |
NONINTEREST INCOME | ||||
Service charges and other fees | 3,600 | 4,845 | 7,976 | 9,330 |
Gain on sale of investment securities, net | 409 | 33 | 1,423 | 48 |
Gain on sale of loans, net | 1,135 | 368 | 1,682 | 620 |
Interest rate swap fees | 769 | 161 | 1,065 | 161 |
Other income | 2,335 | 2,157 | 5,588 | 4,834 |
Total noninterest income | 8,248 | 7,564 | 17,734 | 14,993 |
NONINTEREST EXPENSE | ||||
Compensation and employee benefits | 21,927 | 21,982 | 44,433 | 43,896 |
Occupancy and equipment | 5,529 | 5,451 | 11,260 | 10,909 |
Data processing | 2,323 | 2,109 | 4,683 | 4,282 |
Marketing | 696 | 1,106 | 1,562 | 2,204 |
Professional services | 2,169 | 1,305 | 3,546 | 2,478 |
State/municipal business and use taxes | 905 | 809 | 1,662 | 1,607 |
Federal deposit insurance premium | 238 | 426 | 238 | 711 |
Other real estate owned, net | (170) | (289) | (145) | (375) |
Amortization of intangible assets | 903 | 1,026 | 1,806 | 2,051 |
Other expense | 2,553 | 3,044 | 5,288 | 5,559 |
Total noninterest expense | 37,073 | 37,547 | 74,333 | 74,072 |
(Loss) income before income taxes | (7,075) | 19,186 | 5,756 | 38,958 |
Income tax (benefit) expense | (936) | 3,202 | (296) | 6,422 |
Net (loss) income | $ (6,139) | $ 15,984 | $ 6,052 | $ 32,536 |
Basic earnings per common share (in usd per share) | $ (0.17) | $ 0.43 | $ 0.17 | $ 0.88 |
Diluted earnings per common share (in usd per share) | (0.17) | 0.43 | 0.17 | 0.88 |
Dividends declared per common share (in usd per share) | $ 0.20 | $ 0.18 | $ 0.40 | $ 0.36 |
Weighted Average Number of Shares Outstanding, Diluted | 35,898,716 | 37,014,873 | 36,275,391 | 37,011,736 |
Basic weighted average common shares outstanding (in shares) | 35,898,716 | 36,870,159 | 36,120,403 | 36,847,969 |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Statement of Comprehensive Income [Abstract] | ||||
Net (loss) income | $ (6,139) | $ 15,984 | $ 6,052 | $ 32,536 |
Other comprehensive income | 7,689 | 9,193 | 15,603 | 17,209 |
Comprehensive income | 1,550 | 25,177 | 21,655 | 49,745 |
Change in fair value of securities available for sale, tax | $ 2,224 | $ 2,463 | $ 4,643 | $ 4,608 |
Cash dividends declared on common stock (in usd per share) | $ 0.20 | $ 0.18 | $ 0.40 | $ 0.36 |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Tax | $ (89) | $ (7) | $ (310) | $ (10) |
Condensed Consolidated Statem_5
Condensed Consolidated Statements of Comprehensive Income (Unaudited) (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Statement of Comprehensive Income [Abstract] | ||||
Change in fair value of securities available for sale, tax | $ 2,224 | $ 2,463 | $ 4,643 | $ 4,608 |
Reclassification adjustment of net gain from sale of investment securities included in income, tax | $ 89 | $ 7 | $ 310 | $ 10 |
Condensed Consolidated Statem_6
Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands | Total | Common stock | Retained earnings | Accumulated other comprehensive income (loss), net |
Beginning balance, shares at Dec. 31, 2018 | 36,874 | |||
Beginning balance at Dec. 31, 2018 | $ 760,723 | $ 591,806 | $ 176,372 | $ (7,455) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Restricted stock awards forfeited, shares | 62 | |||
Restricted stock units vested, net of forfeitures of restricted stock awards | 0 | |||
Exercise of stock options, shares | 3 | |||
Exercise of stock options | 42 | $ 42 | ||
Stock-based compensation expense | 1,536 | $ 1,536 | ||
Common stock repurchased, shares | (56) | |||
Common stock repurchased | (1,681) | $ (1,681) | ||
Net income | 32,536 | 32,536 | ||
Other comprehensive income (loss), net of tax | 17,209 | 17,209 | ||
Cash dividends declared on common stock | (13,341) | (13,341) | ||
Ending balance, shares at Jun. 30, 2019 | 36,883 | |||
Ending balance at Jun. 30, 2019 | $ 796,625 | $ 591,703 | 195,168 | 9,754 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax | (38) | |||
Cash dividends declared on common stock (in usd per share) | $ 0.36 | |||
Beginning balance, shares at Mar. 31, 2019 | 36,899 | |||
Beginning balance at Mar. 31, 2019 | $ 778,191 | $ 591,767 | 185,863 | 561 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Restricted stock awards forfeited, shares | 13 | |||
Restricted stock units vested, net of forfeitures of restricted stock awards | 0 | |||
Exercise of stock options, shares | 1 | |||
Exercise of stock options | 20 | $ 20 | ||
Stock-based compensation expense | 795 | $ 795 | ||
Common stock repurchased, shares | (30) | |||
Common stock repurchased | (879) | $ (879) | ||
Net income | 15,984 | 15,984 | ||
Other comprehensive income (loss), net of tax | 9,193 | 9,193 | ||
Cash dividends declared on common stock | (6,679) | (6,679) | ||
Ending balance, shares at Jun. 30, 2019 | 36,883 | |||
Ending balance at Jun. 30, 2019 | $ 796,625 | $ 591,703 | 195,168 | 9,754 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax | (26) | |||
Cash dividends declared on common stock (in usd per share) | $ 0.18 | |||
Beginning balance, shares at Dec. 31, 2019 | 36,619 | |||
Beginning balance at Dec. 31, 2019 | $ 809,311 | $ 586,459 | 212,474 | 10,378 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Restricted stock awards forfeited, shares | 106 | |||
Exercise of stock options, shares | 8 | |||
Exercise of stock options | 122 | $ 122 | ||
Stock-based compensation expense | 1,846 | $ 1,846 | ||
Common stock repurchased, shares | (824) | |||
Common stock repurchased | (19,098) | $ (19,098) | ||
Net income | 6,052 | 6,052 | ||
Other comprehensive income (loss), net of tax | 15,603 | 15,603 | ||
Cash dividends declared on common stock | (14,569) | (14,569) | ||
Ending balance, shares at Jun. 30, 2020 | 35,909 | |||
Ending balance at Jun. 30, 2020 | $ 793,652 | $ 569,329 | 198,342 | 25,981 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax | (1,113) | |||
Cash dividends declared on common stock (in usd per share) | $ 0.40 | |||
Beginning balance, shares at Mar. 31, 2020 | 35,889 | |||
Beginning balance at Mar. 31, 2020 | $ 798,438 | $ 568,439 | 211,707 | 18,292 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Restricted stock awards forfeited, shares | 19 | |||
Exercise of stock options, shares | 3 | |||
Exercise of stock options | 51 | $ 51 | ||
Stock-based compensation expense | 877 | $ 877 | ||
Common stock repurchased, shares | (2) | |||
Common stock repurchased | (38) | $ (38) | ||
Net income | (6,139) | (6,139) | ||
Other comprehensive income (loss), net of tax | 7,689 | 7,689 | ||
Cash dividends declared on common stock | (7,226) | (7,226) | ||
Ending balance, shares at Jun. 30, 2020 | 35,909 | |||
Ending balance at Jun. 30, 2020 | $ 793,652 | $ 569,329 | $ 198,342 | 25,981 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax | (320) | |||
Cash dividends declared on common stock (in usd per share) | $ 0.20 | |||
Effects of implementation of accounting change related to operating leases | $ 0 |
Condensed Consolidated Statem_7
Condensed Consolidated Statements of Stockholders' Equity (Unaudited) (Parenthetical) - $ / shares | Apr. 29, 2020 | Jan. 22, 2020 | Oct. 23, 2019 | Jul. 24, 2019 | Apr. 24, 2019 | Jan. 23, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 |
Statement of Stockholders' Equity [Abstract] | ||||||||||
Cash dividends declared on common stock (in usd per share) | $ 0.20 | $ 0.20 | $ 0.19 | $ 0.19 | $ 0.18 | $ 0.18 | $ 0.20 | $ 0.18 | $ 0.40 | $ 0.36 |
Condensed Consolidated Statem_8
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2020 | Jun. 30, 2019 | |
Cash flows from operating activities: | ||
Net (loss) income | $ 6,052 | $ 32,536 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation of premises and equipment, amortization of securities available for sale, and amortization of discount of junior subordinated debentures | 4,547 | 4,255 |
Changes in net deferred loan costs, net of amortization | 26,020 | 829 |
Provision for Loan, Lease, and Other Losses | 36,509 | 2,287 |
Net change in accrued interest receivable, prepaid expenses and other assets, and accrued expenses and other liabilities | (3,096) | (3,645) |
Stock-based compensation expense | 1,846 | 1,536 |
Amortization of intangible assets | 1,806 | 2,051 |
Origination of mortgage loans held for sale | (48,848) | (20,328) |
Proceeds from sale of mortgage loans held for sale | 52,280 | 18,811 |
Earnings on bank owned life insurance | (1,530) | (1,014) |
Valuation adjustment on other real estate owned | 0 | 51 |
(Gain) loss on sale of other real estate owned, net | (179) | 279 |
Gain on sale of loans, net | (1,682) | (620) |
Gain on sale of investment securities, net | (1,423) | (48) |
Gain on sale of assets held for sale | (9) | 0 |
Impairment for right of use asset | 0 | 117 |
Gain on sale of premises and equipment, net | (25) | (10) |
Net cash provided by operating activities | 72,268 | 37,087 |
Cash flows from investing activities: | ||
Loans originated, net of principal payments | (928,792) | (65,972) |
Maturities, calls and payments of investment securities available for sale | 154,194 | 105,400 |
Purchase of investment securities available for sale | (103,079) | (104,324) |
Proceeds from sales of investment securities available for sale | 40,930 | 34,479 |
Purchase of premises and equipment | (1,739) | (6,374) |
Proceeds from sales of other loans | 0 | 54 |
Proceeds from sales of other real estate owned | 1,290 | 429 |
Proceeds from Sale of Assets Held for Sale | 394 | 0 |
Proceeds from Sale of Federal Home Loan Bank Stock | 2,560 | 12,684 |
Purchases of Federal Home Loan Bank stock | (2,844) | (16,613) |
Proceeds from sales of premises and equipment | 53 | 31 |
Purchase of bank owned life insurance | 3,579 | 0 |
Proceeds from bank owned life insurance death benefit | 1,324 | 0 |
Capital contributions to low-income housing tax credit partnerships and new market tax credit partnerships, net | (2,335) | (2,242) |
Net cash used in investing activities | (841,623) | (42,448) |
Cash flows from financing activities: | ||
Net increase (decrease) in deposits | 985,057 | (84,694) |
Federal Home Loan Bank advances | 19,000 | 402,800 |
Repayment of Federal Home Loan Bank advances | (19,000) | (312,100) |
Common stock cash dividends paid | (14,494) | (13,280) |
Net increase (decrease) in securities sold under agreement to repurchase | 4,275 | (8,346) |
Proceeds from exercise of stock options | 122 | 42 |
Repurchase of common stock | (19,098) | (1,681) |
Net cash provided by (used in) financing activities | 955,862 | (17,259) |
Net increase (decrease) in cash and cash equivalents | 186,507 | (22,620) |
Cash and cash equivalents at beginning of period | 228,568 | 161,910 |
Cash and cash equivalents at end of period | 415,075 | 139,290 |
Supplemental disclosures of cash flow information: | ||
Cash paid for interest | 8,144 | 8,535 |
Cash paid for income taxes, net of refunds | 118 | 5,545 |
Supplemental non-cash disclosures of cash flow information: | ||
Transfers of loans receivable to other real estate owned | 270 | 0 |
Transfers of properties held for sale recorded in premises and equipment, net to prepaid expenses and other assets | 0 | 763 |
Investment in low income housing tax credit partnership and related funding commitment | 10,237 | 0 |
Cumulative effect from change in accounting policy | 7,175 | 29,754 |
Transfer of bank owned life insurance to prepaid expenses and other assets | 0 | 209 |
Impact of new or modified leases | $ 591 | $ 335 |
Description of Business, Basis
Description of Business, Basis of Presentation and Significant Accounting Policies and Recently Issued Accounting Pronouncements | 6 Months Ended |
Jun. 30, 2020 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Description of Business, Basis of Presentation and Significant Accounting Policies and Recently Issued Accounting Pronouncements | Description of Business, Basis of Presentation, Significant Accounting Policies and Recently Issued Accounting Pronouncements (a) Description of Business The Company is primarily engaged in the business of planning, directing and coordinating the business activities of its wholly-owned subsidiary, Heritage Bank. The Bank is headquartered in Olympia, Washington and conducts business from its 62 branch offices as of June 30, 2020 located throughout Washington State and the greater Portland, Oregon area. The Bank’s business consists primarily of commercial lending and deposit relationships with small businesses and their owners in its market areas and attracting deposits from the general public. The Bank also makes real estate construction and land development loans, consumer loans and originates first mortgage loans on residential properties primarily located in its market areas. The Bank's deposits are insured by the FDIC. (b) Basis of Presentation The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with GAAP for interim financial information and pursuant to the rules and regulations of the SEC. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. It is recommended that these unaudited Condensed Consolidated Financial Statements and accompanying Notes be read with the audited Consolidated Financial Statements and the accompanying Notes included in the 2019 Annual Form 10-K. In management's opinion, all adjustments (consisting only of normal recurring adjustments) considered necessary for a fair presentation have been included. Operating results for the three and six months ended June 30, 2020 are not necessarily indicative of the results that may be expected for the year ending December 31, 2020. To prepare unaudited Condensed Consolidated Financial Statements in conformity with GAAP, management makes estimates and assumptions based on available information. These estimates and assumptions affect the amounts reported in the financial statements and the disclosures provided, and actual results could differ. Material estimates that are particularly susceptible to significant change relate to management's estimate of ACL on loans, management's evaluation of goodwill impairment and the fair value of financial instruments. It is reasonably possible that management's estimate of ACL on loans of $71.5 million at June 30, 2020, management's conclusion that the fair value of the reporting unit more likely than not exceeds its carrying value at June 30, 2020 as disclosed in Note (6) Goodwill and Other Intangible Assets and the estimates of fair value of financial instruments as disclosed in Note (13) Fair Value Measurements could materially change. Certain prior year amounts have been reclassified to conform to the current year’s presentation. Namely, loan receivable balances in the disclosures of Note (3) Loans Receivable and Note (4) Allowance for Credit Losses on Loans have been reclassified to conform to the current period presentation, which is net of deferred fees and costs. Reclassifications had no effect on the prior years' net income or stockholders’ equity. (c) Significant Accounting Policies The significant accounting policies used in preparation of the Company's Condensed Consolidated Financial Statements are disclosed in the 2019 Annual Form 10-K. Other than the adoption of the new accounting standard discussed below, there have not been any material changes in the Company's significant accounting policies from those contained in the 2019 Annual Form 10-K. (d) Adoption of FASB ASU 2016-13 On January 1, 2020, the Company adopted FASB ASU 2016-13 Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments , as amended, which replaces the incurred loss methodology with an expected loss methodology that is referred to as the CECL methodology. The measurement of expected credit losses under the CECL methodology is applicable to financial assets measured at amortized cost, including loans receivable. It also applies to off-balance sheet credit exposures such as loan commitments, standby letters of credit, financial guarantees, and other similar instruments. In addition, the adoption of CECL made changes to the accounting for credit losses on investment securities available for sale. The Company adopted ASU 2016-13 using the modified retrospective method for all financial assets measured at amortized cost and unfunded commitments. The Company elected not to measure an ACL on accrued interest receivable on loans receivable or accrued interest receivable on investment securities available for sale as Company policy is to reverse interest income for uncollectible accrued interest receivable balances in a timely manner. Results for the reporting period beginning after January 1, 2020 are presented under ASU 2016-13, while prior period amounts were not restated and continue to be reported in accordance with previously applicable GAAP. The accounting policies for prior periods are included in the 2019 Form 10-K. The accounting policies for all financial instruments impacted by CECL Adoption are as follows: Investment Securities A debt security is placed on nonaccrual status at the time any principal or payments become more than 90 days delinquent. Interest accrued, but not received for a security placed on nonaccrual, is reversed against interest income during the period that the debt security is placed on nonaccrual status. Allowance for Credit Losses on Investment Securities Available for Sale Management evaluates the need for an ACL on investment securities available for sale on at least a quarterly basis, and more frequently when economic or market conditions warrant such an evaluation. For investment securities available for sale in an unrealized loss position, the Company first assesses whether it intends to sell, or it is more likely than not that it will be required to sell the security before the recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the security’s amortized cost basis is written down to fair value through income. For investment securities available for sale that do not meet the aforementioned criteria, the Company evaluates whether the decline in fair value has resulted from credit losses or other factors. In making this assessment, management considers the extent to which fair value is less than amortized cost, any changes to the rating of the security by a rating agency and adverse conditions specifically related to the security, among other factors. The credit loss is defined as the difference between the present value of the cash flows expected to be collected and the amortized cost basis. If the present value of cash flows expected to be collected is less than the amortized cost basis, a credit loss exists and an ACL on investment securities available for sale is recorded for the credit loss, limited by the amount that the fair value is less than the amortized cost basis. Any decline in fair value that has not been recorded through an ACL on investment securities available for sale is recognized in other comprehensive income. Changes in the ACL on investment securities available for sale are recorded as provision (reversal of provision) for credit losses expense. Losses are charged against the ACL when management believes the uncollectability of an investment security available for sale is confirmed or when either of the criteria regarding intent or requirement to sell is met. Accrued interest receivable on investment securities available for sale is excluded from the estimate of credit losses as interest accrued, but not received, is reversed timely in accordance with the policy for investment securities stated above. Loans Receivable Loans receivable include loans originated and indirect loans purchased by the Bank as well as loans acquired in business combinations. Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are reported at amortized cost. Amortized cost is the outstanding principal balance, net of purchased premiums and discounts, unearned discounts, and net deferred loan origination fees and costs. Accrued interest receivable for loans receivable is reported in prepaid expenses and other assets on the Condensed Consolidated Statements of Financial Condition. Purchased Loans: Loans acquired in a business combination are designated as “purchased” loans. Upon adoption of ASU 2016-13, the Bank's PCI loans were transitioned to PCD loans. The Bank elected to account for the PCD loans individually, terminating the pools of loans that were previously accounted for under ASC 310-30. Loans purchased after January 1, 2020 are recorded at their fair value at acquisition date net of an ACL on loans expected to be incurred over the life of the loan. The initial ACL on purchased loans is determined using the same methodology as originated loans. For non-PCD loans, the initial ACL is recorded to provision for credit losses expense. For PCD loans, the initial ACL is incorporated into the calculation of the fair value of net assets acquired on the merger date and the net of the PCD loan purchase price and the initial ACL becomes the initial amortized cost basis. The difference between the initial amortized cost basis and the par value of PCD loans is the noncredit discount or premium for PCD loans. The noncredit discount or premium for PCD loans and both the noncredit and credit discount or premium for non-PCD loans are accreted through the interest and fees on loans line item on the Condensed Consolidated Statements of Operations over the life of the loan using the effective interest method for non-revolving credits or the straight-line method, which approximates the effective interest method, for revolving credits. Any unrecognized discount or premium for a purchased loan that is subsequently repaid in full is recognized immediately into income. Subsequent changes to the ACL on loans for purchased loans are recorded through provision for credit losses expense. Troubled Debt Restructures : The CARES Act provided guidance around the modification of loans as a result of the COVID-19 pandemic, and outlined, among other criteria, that short-term modifications made on a good faith basis to borrowers who were current as defined by the CARES Act prior to any relief, are not TDRs. This includes short-term (e.g. six months) modifications such as payment deferrals, fee waivers, extensions of repayment terms, or other delays in payment that are insignificant. Borrowers are considered current under the CARES Act if they are less than 30 days past due on their contractual payments at the time a modification program is implemented. Allowance for Credit Losses on Loans The ACL on loans is a valuation account that is deducted from the amortized cost of loans receivable to present the net amount expected to be collected. Loans are charged against the ACL when management believes the uncollectibility of a loan balance is confirmed. Expected recoveries do not exceed the aggregate of amounts previously charged-off and expected to be charged off. Subsequent recoveries, if any, are credited to the ACL. The Bank records the changes in the ACL through earnings, as a provision for credit losses on the Condensed Consolidated Statements of Operations. Accrued interest receivable on loans receivable is excluded from the estimate of credit losses. Instead, interest accrued, but not received, is reversed timely in accordance with the policy for loans receivable. Management has adopted a historic loss, open pool CECL methodology to calculate the ACL on loans. The same methodology is applied to all loans consistent with the guidance of the accounting standard which does not require undue complexity. Under this methodology, the Company has identified segments of loans with similar risk characteristics that align with their identified loan classes. Nonaccrual loans are not considered similar to other loans; therefore, they are evaluated for allowance on an individual basis. The allowance for individually evaluated loans is calculated using either the collateral value method, which considers the likely source of repayment as the value of the collateral, less estimated costs to sell, or the net present value method, which considers the contractual principal and interest terms and estimated cash flows available from the borrower to satisfy the debt. A performing TDR loan is evaluated for allowance on a collective basis with loans with similar risk characteristics if a) it is classified as a risk rating of "Pass", b) it has paid a minimum of six months of principal and interest in accordance with the restructured terms, and c) it has not been over 30 days delinquent in the most recent six month period. If all three criteria on a performing TDR loan are not met, the loan is evaluated for allowance on an individual basis as it is not deemed to have similar characteristics of other loans in the portfolio. Nonaccrual TDR loans, including defaulted TDR loans, and TDR loans that do not meet the similar characteristics criteria, are evaluated for allowance on an individual basis as described above except that the original interest rate is used to discount the expected cash flows, not the rate specified in the restructuring. For each loan segment collectively measured, the baseline loss rates are calculated using the Bank's average quarterly historical loss information for an economic cycle. The Bank evaluates the historical period on a quarterly basis, with the assumption that economic cycles have historically lasted between 10 and 15 years. The baseline loss rates are applied to each loan's estimated cash flows over the life of the loan under the remaining life method to determine the baseline loss estimate for each loan. Estimated cash flows consider the principal and interest in accordance with the contractual term of the loan and estimated prepayments. Contractual cash flows are based on the amortized cost, as adjusted for balances guaranteed by governmental entities, such as SBA or USDA, or the unguaranteed amortized cost. The contractual term excludes expected extensions, renewals, and modifications unless either of the following applies: 1) management has a reasonable expectation at the reporting date that a TDR will be executed with an individual borrower or 2) the extension or renewal options are included in the original or modified contract at the reporting date and are not unconditionally cancellable by the Company. Prepayments are established for each segment based on rolling historical averages for the segments, which management believes is an accurate representation of future prepayment activity. Management reviews the adequacy of the prepayment period assumption on a quarterly basis. The CECL methodology includes consideration of the forecasted direction of the economic and business environment and its likely impact to the estimated allowance as compared to the historical losses over the reasonable and supportable time frame. Economic forecast models for the current period are uploaded to the model, which targets 16 forecasted macroeconomic factors, such as unemployment rate, GDP, housing price index, commercial real estate price index, disposable income growth, mortgage rates, and certain rate indices. Each of the forecasted segments is impacted by a mix of these macroeconomic factors. Further, each of the macroeconomic factors is utilized differently by segment, including the application of lagged factors and various transformations such as percent change year over year. The macroeconomic sensitive model is developed for each segment given the current and forecasted conditions, and a macroeconomic multiplier is calculated for each forecast period considering the forecasted losses as compared to the long-term average actual losses of the dataset. The impact of those macroeconomic factors to each segment, both positive or negative, using the reasonable and supportable period, are added to the calculated baseline loss rate. After the reasonable and supportable period, forecasted loss rates revert to historical baseline loss levels over the predetermined reversion period on a straight-lined basis. The Bank also considers other qualitative risk factors to adjust the estimated ACL calculated by the above mentioned model. The Bank will have a bias for minimal factors unless internal or external factors outside those considered in its historical losses or macroeconomic forecast indicate otherwise. The Bank will establish metrics to estimate the qualitative risk factor by segment based on the identified risk. In general, management's estimate of the ACL on loans uses relevant available information, from internal and external sources, relating to past events, current conditions, and reasonable and supportable forecasts. The ACL on loans evaluation is inherently subjective as it requires estimates that are susceptible to significant revision as more information becomes available. While management utilizes its best judgment and information available to recognize losses on loans, future additions to the allowance may be necessary based on further declines in local and national economic conditions. In addition, various regulatory agencies, as an integral part of their examination process, periodically review the Bank’s ACL on loans. Such agencies may require the Bank to make adjustments to the allowance based on their judgments about information available to them at the time of their examinations. The Company believes the ACL on loans is appropriate given all of the above considerations. Allowance for Credit Losses on Unfunded Commitments The Bank estimates expected credit losses on unfunded, off-balance sheet commitments over the contractual period in which the Bank is exposed to credit risk from a contractual obligation to extend credit, unless the obligation is unconditionally cancellable by the Company. The Bank has determined that no allowance is necessary for its credit card portfolio as it has the ability to unconditionally cancel the available lines of credit. The allowance methodology for unfunded commitments is similar to the ACL on loans, but additionally includes an estimate of the future utilization of the commitment as determined by historical commitment utilizations and the Bank's estimates of future utilizations given current economic forecasts. The credit risks associated with the unfunded commitments are consistent with the risks outlined for each loan class under the ACL for loans. The ACL for unfunded commitments is recognized in accrued expenses and other liabilities on the Condensed Consolidated Statements of Financial Condition and is adjusted as a provision (reversal of provision) for credit losses on the Condensed Consolidated Statements of Operations. Provision for Credit Losses The provision for credit losses as presented in the Company's Condensed Consolidated Statements of Operations includes the provision for credit losses on loans and the provision for credit losses on unfunded commitments. (e) Recently Issued Accounting Pronouncements FASB ASU 2016-13 , Financial Instruments: Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments , as amended by ASU 2018-19, ASU 2019-04, ASU 2019-05, ASU 2019-10, ASU 2019-11, and 2020-02, was originally issued in June 2016. This ASU requires financial assets measured at amortized cost basis to be presented at the net amount expected to be collected. For public business entities, this ASU is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years with early adoption permitted for fiscal years after December 15, 2018. The Company adopted ASU 2016-13 on January 1, 2020 as discussed in the Significant Accounting Policies section above. The adoption had the following impacts: Investment Securities As of December 31, 2019, the Company had no historical charge-off or recovery history and did not have any investment securities available for sale outstanding at the adoption date for which an other-than-temporary impairment was previously recorded. At the adoption date of ASU 2016-13, the unrealized losses present in the portfolio of investment securities available for sale were primarily due to decreases in market interest rates on floating rate investment securities since the purchase of the securities and the fair value of these securities was expected to recover as the securities approach their maturity dates. The basis of management’s conclusion was that at December 31, 2019, 83.5% of the investment securities were issued by or guaranteed by the United States government or its agencies, 14.0% were issued and guaranteed by State and local governments and the remainder of the portfolio was invested in at least investment-grade securities. As a result of the analysis, no ACL on investment securities available for sale was recorded upon adoption. See Note (2) Investment Securities for more information. Loan Receivable ASU 2016-13 was applied prospectively and replaced the allowance for loan losses with the ACL on loans on the Condensed Consolidated Statements of Financial Condition and replaced the related provision for loan losses with the provision for credit losses as presented on the Condensed Consolidated Statements of Operations, net of provision for credit losses on loans and unfunded commitments. The adoption was completed in a specific order beginning with the transition of PCI loans to PCD loans. The Bank elected to account for the PCD loans individually, terminating the pools of loans that were previously accounted for under ASC 310-30. First, an ACL was determined for each PCI loan. The ACL on PCI loans was added to the loans' carrying amount to establish a PCD loan at its amortized cost basis. The difference between the unpaid principal balance and the amortized cost basis of the PCD loan is a noncredit premium or discount, which will be amortized into interest income over the remaining life of the PCD loan. The PCI to PCD transition did not have an impact on beginning retained earnings; however, it did have the effect of reducing the existing allowance for PCI loans by $1.6 million under the CECL methodology as compared to ASC 310-30 methodology. Following the PCI to PCD transition, the Bank recorded a pretax increase to the ACL on loans of $3.4 million to increase the reserve to the estimated credit losses at January 1, 2020 based on its CECL methodology as part of the cumulative-effect adjustment to beginning retained earnings. The pretax increase to the ACL on loans of $3.4 million and the reduction in ACL on loans due to the PCI to PCD transition of $1.6 million resulted in a $1.8 million increase in the ACL on loans at January 1, 2020. Upon adoption, the adjusted beginning balance of the ACL on loans as a percentage of loans receivable was 1.01% as compared to 0.96% at December 31, 2019 under the prior incurred loss methodology. The PCI to PCD transition also resulted in a net discount of $4.3 million for PCD loans, or an increase in the net discount for PCD loans of $1.6 million. Following the transition, the total net discount for purchased loans increased to $10.0 million at January 1, 2020 compared to $8.4 million as of December 31, 2019. The Company accretes the net discount or premium on purchased loans to interest and fees on loans using the effective interest method. See Note (3) Loans Receivable and Note (4) Allowance for Credit Losses on Loans for more information. Unfunded Commitments ASU 2016-13 was applied prospectively and replaced the reserve for unfunded commitments with the ACL on unfunded commitments as included in accrued liabilities and other expenses on the Condensed Consolidated Statements of Financial Condition and replaced the provision for unfunded commitments with the provision for credit losses as presented on the Condensed Consolidated Statements of Operations, net of provision for credit losses on unfunded commitment and loans. Upon adoption, the Bank recorded a pretax increase in the beginning ACL on unfunded commitments of $3.7 million. See Note (15) Commitments and Contingencies for more information. Overall CECL Impact The adoption of ASU 2016-13, including the above mentioned increase to the ACL on loans of $3.4 million and the increase to the ACL on unfunded commitments of $3.7 million, resulted in a pretax cumulative-effect adjustment of $7.1 million. The impact of this adjustment to beginning retained earnings on January 1, 2020 was $5.6 million, net of tax. FASB ASU 2017-04 , Goodwill (Topic 350) , was issued in January 2017 and eliminates Step 2 from the goodwill impairment test. The ASU is effective for annual periods or any interim goodwill impairment tests beginning after December 15, 2019 using a prospective transition method and early adoption is permitted. The Company adopted the guidance on January 1, 2020. The adoption did not have a material impact on its Condensed Consolidated Financial Statements as of or for the six months ended June 30, 2020 as the Company's quantitative assessment indicated no goodwill impairment. FASB ASU 2018-13 , Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement, was issued in August 2018 and modifies the disclosure requirements on fair value measurements in Topic 820. The amendments in this ASU are effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. The Company adopted the guidance on January 1, 2020. The adoption did not have a material impact to Note (13) Fair Value Measurements in its Condensed Consolidated Financial Statements. FASB ASU 2020-03 , Codification Improvements to Financial Instruments was issued in March 2020 and revised a wide variety of topics in the Codification with the intent to make the Codification easier to understand and apply by eliminating inconsistencies and providing clarifications. The ASU was effective immediately upon its release and did not have a material impact on the Company's Condensed Consolidated Financial Statements as of or for the six months ended June 30, 2020. FASB ASU 2020-04 , Reference Rate Reform (Topic 848) was issued in March 2020 and provides optional expedients and exceptions for applying GAAP to loan and lease agreements, derivative contracts, and other transactions affected by the anticipated transition away from LIBOR toward new interest rate benchmarks. For transactions that are modified because of reference rate reform and that meet certain scope guidance (i) modifications of loan agreements should be accounted for by prospectively adjusting the effective interest rate and the modification will be considered "minor" so that any existing unamortized origination fees/costs would carry forward and continue to be amortized and (ii) modifications of lease agreements should be accounted for as a continuation of the existing agreement with no reassessments of the lease classification and the discount rate or remeasurements of lease payments that otherwise would be required for modifications not accounted for as separate contracts. ASU 2020-04 also provides numerous optional expedients for derivative accounting and is effective March 12, 2020 through December 31, 2022. An entity may elect to apply the ASU for contract modifications as of January 1, 2020, or prospectively from a date within an interim period that includes or is subsequent to March 12, 2020, up to the date that the financial statements are available to be issued. Once elected for a Topic or an Industry Subtopic within the Codification, the amendments in this ASU must be applied prospectively for all eligible contract modifications for that Topic or Industry Subtopic. The Company anticipates this ASU will simplify any modifications we execute between the selected start date (yet to be determined) and December 31, 2022 that are directly related to LIBOR transition by allowing prospective recognition of the continuation of the contract, rather than extinguishment of the old contract resulting in writing off unamortized fees/costs. The Company is evaluating the impacts of this ASU and have not yet determined whether LIBOR transition and this ASU will have material effects on its business operations and Condensed Consolidated Financial Statements. |
Investment Securities
Investment Securities | 6 Months Ended |
Jun. 30, 2020 | |
Investments, Debt and Equity Securities [Abstract] | |
Investment Securities | Investment Securities (a) Securities by Type and Maturity The following tables present the amortized cost and fair value of investment securities available for sale at the dates indicated and the corresponding amounts of gross unrealized gains and losses recognized in accumulated other comprehensive income (loss): June 30, 2020 Amortized Gross Gross Fair (In thousands) U.S. Treasury and U.S. Government-sponsored agencies $ 50,791 $ 1,396 $ (136) $ 52,051 Municipal securities 183,296 10,972 (337) 193,931 Mortgage-backed securities and collateralized mortgage obligations: Residential 260,944 8,286 (246) 268,984 Commercial 305,041 13,602 (302) 318,341 Corporate obligations 23,922 335 (8) 24,249 Other asset-backed securities (1) 22,845 94 (568) 22,371 Total $ 846,839 $ 34,685 $ (1,597) $ 879,927 (1) Issued and guaranteed by U.S. Government-sponsored agencies. December 31, 2019 Amortized Gross Gross Fair (In thousands) U.S. Treasury and U.S. Government-sponsored agencies $ 104,709 $ 598 $ (84) $ 105,223 Municipal securities 128,183 4,933 (102) 133,014 Mortgage-backed securities and collateralized mortgage obligations: Residential 336,929 3,184 (505) 339,608 Commercial 322,169 5,575 (649) 327,095 Corporate obligations 23,893 316 (15) 24,194 Other asset-backed securities (1) 23,277 54 (153) 23,178 Total $ 939,160 $ 14,660 $ (1,508) $ 952,312 (1) Issued and guaranteed by U.S. Government-sponsored agencies. There were no securities classified as trading or held to maturity at June 30, 2020 or December 31, 2019. For the three and six months ended June 30, 2020, there was no provision for credit loss on investment securities available for sale recorded in the Condensed Consolidated Statements of Operations. There was no ACL on investment securities at June 30, 2020. The amortized cost and fair value of investment securities available for sale at June 30, 2020, by contractual maturity, are set forth below. Actual maturities may differ from contractual maturities because certain borrowers have the right to call or prepay obligations with or without call or prepayment penalties. Amortized Cost Fair Value (In thousands) Due in one year or less $ 47,246 $ 47,813 Due after one year through five years 146,626 151,911 Due after five years through ten years 217,935 228,844 Due after ten years 435,032 451,359 Total $ 846,839 $ 879,927 There were no holdings of securities of any one issuer, other than the U.S. Government and its agencies, in an amount greater than 10% of stockholders’ equity at June 30, 2020 and December 31, 2019. (b) Unrealized Losses and Other-Than-Temporary Impairments The following tables show the gross unrealized losses and fair value of the Company's investment securities available for sale, for which an ACL has not been recorded, aggregated by investment category and length of time that the individual securities have been in continuous unrealized loss positions as of June 30, 2020 and December 31, 2019: June 30, 2020 Less than 12 Months 12 Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized (In thousands) U.S. Treasury and U.S. Government-sponsored agencies $ 5,865 $ (136) $ — $ — $ 5,865 $ (136) Municipal securities 10,386 (337) — — 10,386 (337) Mortgage-backed securities and collateralized mortgage obligations: Residential 2,243 (1) 27,278 (245) 29,521 (246) Commercial 5,792 (16) 21,538 (286) 27,330 (302) Corporate obligations — — 1,992 (8) 1,992 (8) Other asset-backed securities (1) 16,917 (538) 1,476 (30) 18,393 (568) Total $ 41,203 $ (1,028) $ 52,284 $ (569) $ 93,487 $ (1,597) (1) Issued and guaranteed by U.S. Government-sponsored agencies. December 31, 2019 Less than 12 Months 12 Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized (In thousands) U.S. Treasury and U.S. Government-sponsored agencies $ 45,999 $ (84) $ — $ — $ 45,999 $ (84) Municipal securities 13,761 (102) — — 13,761 (102) Mortgage-backed securities and collateralized mortgage obligations: Residential 14,272 (66) 60,232 (439) 74,504 (505) Commercial 56,263 (177) 43,623 (472) 99,886 (649) Corporate obligations 998 (2) 1,987 (13) 2,985 (15) Other asset-backed securities (1) 14,383 (127) 1,609 (26) 15,992 (153) Total $ 145,676 $ (558) $ 107,451 $ (950) $ 253,127 $ (1,508) (1) Issued and guaranteed by U.S. Government-sponsored agencies. The Company has evaluated these investment securities available for sale as of June 30, 2020 and December 31, 2019 and determined that no ACL is necessary. Unrealized losses on investment securities have not been recognized into income because the issuers of bonds are investment grade (rated A- or higher), the securities carry governmental guarantees, management does not intend to sell and it is likely that management will not be required to sell the securities prior to their anticipated recovery, and the decline in fair value is largely due to changes in interest rates and other market conditions. The issuers continue to make timely principal and interest payments on the bonds and the fair value is expected to recover as the bonds approach maturity. (c) Realized Gains and Losses The following table presents the gross realized gains and losses on the sale of securities available for sale for the three and six months ended June 30, 2020 and 2019: Three Months Ended Six Months Ended 2020 2019 2020 2019 (In thousands) Gross realized gains $ 414 $ 187 $ 1,442 $ 276 Gross realized losses (5) (154) (19) (228) Net realized gains $ 409 $ 33 $ 1,423 $ 48 (d) Pledged Securities The following table summarizes the amortized cost and fair value of investment securities available for sale that are pledged as collateral for the following obligations at June 30, 2020 and December 31, 2019: June 30, 2020 December 31, 2019 Amortized Fair Amortized Fair (In thousands) Washington and Oregon state public deposits $ 188,233 $ 196,117 $ 187,700 $ 190,773 Securities sold under agreement to repurchase 29,323 29,765 22,156 22,294 Other securities pledged 33,583 34,697 19,333 19,850 Total $ 251,139 $ 260,579 $ 229,189 $ 232,917 (e) Accrued Interest Receivable Accrued interest receivable excluded from amortized cost on investment securities available for sale totaled $3.9 million and $3.7 million at June 30, 2020 and December 31, 2019, respectively. No amounts of accrued interest receivable were reversed against interest income on investment securities during the three and six months ended June 30, 2020 and 2019. |
Loans Receivable
Loans Receivable | 6 Months Ended |
Jun. 30, 2020 | |
Loans and Leases Receivable Disclosure [Abstract] | |
Financing Receivables [Text Block] | Loans Receivable (a) Loan Origination/Risk Management The Company originates loans in the ordinary course of business and has also acquired loans through mergers and acquisitions. Accrued interest receivable was excluded from disclosures presenting the Company's amortized cost of loans receivable as it was deemed insignificant. Accrued interest receivable on loans totaled $13.9 million and $10.7 million at June 30, 2020 and December 31, 2019, respectively. The Company categorizes loans in one of the four segments of the total loan portfolio: commercial business, one-to-four family residential, real estate construction and land development and consumer. Within these segments are classes of loans for which management monitors and assesses credit risk in the loan portfolios. A detailed description of the portfolio segments and classes is contained in the 2019 Annual Form 10-K, except for SBA PPP loans. The Bank began originating SBA PPP loans during the three months ended June 30, 2020 following the passage of the CARES Act. SBA PPP loans are fully guaranteed by the SBA, intended for businesses impacted by COVID-19 and designed to provide near term relief to help small businesses sustain operations. The loans are either two-year or five-year maturities that earn interest at 1%. The Bank also earned a fee based on the size of the loan, which is recognized over the duration of the loan. The balance of unamortized net deferred fees on SBA PPP loans was $25.3 million at June 30, 2020. The Bank expects that the great majority of SBA PPP borrowers will seek full or partial forgiveness of their loan obligations in accordance with the CARES Act. The Company adopted ASU 2016-13 effective January 1, 2020, which increased the beginning ACL on loans as discussed in Note (4) Allowance for Credit Losses on Loans. The amortized cost of loans receivable, net of ACL at June 30, 2020 and December 31, 2019 consisted of the following portfolio segments and classes: June 30, December 31, (In thousands) Commercial business: Commercial and industrial $ 793,217 $ 852,220 SBA PPP 856,490 — Owner-occupied commercial real estate 838,303 805,234 Non-owner occupied commercial real estate 1,351,775 1,288,779 Total commercial business 3,839,785 2,946,233 One-to-four family residential 132,546 131,660 Real estate construction and land development: One-to-four family residential 108,821 104,296 Five or more family residential and commercial properties 197,163 170,350 Total real estate construction and land development 305,984 274,646 Consumer 388,018 415,340 Loans receivable 4,666,333 3,767,879 Allowance for credit losses on loans (71,501) (36,171) Loans receivable, net $ 4,594,832 $ 3,731,708 (b) Concentrations of Credit As of June 30, 2020, and December 31, 2019, there were no concentrations of loans related to any single industry in excess of 10% of the Company’s total loans. (c) Credit Quality Indicators As part of the on-going monitoring of the credit quality of the Company’s loan portfolio, management tracks certain credit quality indicators including trends related to (i) the risk grade of the loans, (ii) the level of classified loans, (iii) net charge-offs, (iv) nonperforming loans and (v) the general economic conditions of the United States of America and specifically the states of Washington and Oregon. The Company utilizes a risk grading matrix to assign a risk grade to each loan on a numerical scale of 1 to 10. Risk grades are aggregated to create the risk categories of "Pass" for grades 1 to 6, "Special Mention" ("SM") for grade 7, "Substandard" ("SS") for grade 8, "Doubtful" for grade 9 and "Loss" for grade 10. Descriptions of the general characteristics of the risk grades, including qualitative information on how the risk grades relate to the risk of loss, are contained in the 2019 Annual Form 10-K. There were no loans with a risk grade of doubtful or loss at June 30, 2020. Numerical loan grades for loans are established at the origination of the loan. Changes to loan grades are considered at the time new information about the performance of a loan becomes available, including the receipt of updated financial information from the borrower, and scheduled loan reviews performed by the Bank’s internal Loan Review department. For consumer loans, the Bank follows the FDIC’s Uniform Retail Credit Classification and Account Management Policy for subsequent classification in the event of payment delinquencies or default. Typically, an individual loan grade will not be changed from the prior period unless there is a specific indication of credit deterioration or improvement. Credit deterioration is evidenced by delinquency, direct communications with the borrower, or other borrower information that becomes known to management. Credit improvements are evidenced by known facts regarding the borrower or the collateral property. The following table presents the amortized cost of loans receivable by risk grade as of June 30, 2020: Term Loans 2020 2019 2018 2017 2016 Prior Revolving Loans Revolving Loans Converted to Term Loans (1) Loans Receivable (In thousands) Commercial business: Commercial and industrial Pass $ 60,290 $ 152,475 $ 86,904 $ 59,048 $ 49,096 $ 123,041 $ 176,396 $ 3,654 $ 710,904 SM 2,071 3,232 3,128 1,268 1,876 1,872 14,830 42 28,319 SS 1,859 11,198 4,555 8,278 2,286 12,732 9,227 3,859 53,994 Total 64,220 166,905 94,587 68,594 53,258 137,645 200,453 7,555 793,217 SBA PPP Pass 856,490 — — — — — — — 856,490 Owner-occupied CRE Pass 46,237 157,457 105,974 89,912 84,671 306,133 — 1,051 791,435 SM — — — 9,836 1,461 12,691 — — 23,988 SS — — 117 4,686 3,380 14,697 — — 22,880 Total 46,237 157,457 106,091 104,434 89,512 333,521 — 1,051 838,303 Non-owner-occupied CRE Pass 93,518 163,318 151,550 193,928 284,553 449,656 — — 1,336,523 SM — — — — 6,214 1,939 — — 8,153 SS — — 65 — — 7,034 — — 7,099 Total 93,518 163,318 151,615 193,928 290,767 458,629 — — 1,351,775 Total commercial business Pass 1,056,535 473,250 344,428 342,888 418,320 878,830 176,396 4,705 3,695,352 SM 2,071 3,232 3,128 11,104 9,551 16,502 14,830 42 60,460 SS 1,859 11,198 4,737 12,964 5,666 34,463 9,227 3,859 83,973 Total 1,060,465 487,680 352,293 366,956 433,537 929,795 200,453 8,606 3,839,785 One-to-four family residential Pass 19,960 42,790 19,958 15,334 9,304 24,507 — — 131,853 SS — — — 61 124 508 — — 693 Total 19,960 42,790 19,958 15,395 9,428 25,015 — — 132,546 Real estate construction and land development: One-to-four family residential Pass 17,955 75,844 8,366 2,229 971 1,705 — — 107,070 SS — — — 1,751 — — — — 1,751 Total 17,955 75,844 8,366 3,980 971 1,705 — — 108,821 Five or more family residential and commercial properties Pass 16,898 107,857 61,589 6,993 797 2,536 — — 196,670 SM — — — — — 38 — — 38 SS — — — — — 455 — — 455 Total 16,898 107,857 61,589 6,993 797 3,029 — — 197,163 Total real estate and land development Pass 34,853 183,701 69,955 9,222 1,768 4,241 — — 303,740 SM — — — — — 38 — — 38 SS — — — 1,751 — 455 — — 2,206 Total 34,853 183,701 69,955 10,973 1,768 4,734 — — 305,984 Term Loans 2020 2019 2018 2017 2016 Prior Revolving Loans Revolving Loans Converted to Term Loans (1) Loans Receivable (In thousands) Consumer Pass 36,752 95,262 67,245 40,617 19,622 30,448 94,162 230 384,338 SS 20 257 486 492 471 1,520 430 4 3,680 Total 36,772 95,519 67,731 41,109 20,093 31,968 94,592 234 388,018 Loans receivable Pass 1,148,100 795,003 501,586 408,061 449,014 938,026 270,558 4,935 4,515,283 SM 2,071 3,232 3,128 11,104 9,551 16,540 14,830 42 60,498 SS 1,879 11,455 5,223 15,268 6,261 36,946 9,657 3,863 90,552 Total $ 1,152,050 $ 809,690 $ 509,937 $ 434,433 $ 464,826 $ 991,512 $ 295,045 $ 8,840 $ 4,666,333 (1) Represents loans receivable balance at June 30, 2020 which was converted from a revolving loan to an amortizing loan during the six months ended June 30, 2020. The following table presents the amortized cost of loans receivable by credit quality indicator as of December 31, 2019 in accordance with disclosure requirements prior to CECL Adoption: December 31, 2019 Pass Special Mention Substandard Doubtful/Loss Total (In thousands) Commercial business: Commercial and industrial $ 771,559 $ 16,340 $ 64,321 $ — $ 852,220 Owner-occupied CRE 765,411 24,659 15,164 — 805,234 Non-owner occupied CRE 1,274,513 5,662 8,604 — 1,288,779 Total commercial business 2,811,483 46,661 88,089 — 2,946,233 One-to-four family residential 130,818 — 842 — 131,660 Real estate construction and land development: One-to-four family residential 101,973 1,516 807 — 104,296 Five or more family residential and commercial properties 169,668 682 — — 170,350 Total real estate construction and land development 271,641 2,198 807 — 274,646 Consumer 411,141 — 3,675 524 415,340 Loans receivable $ 3,625,083 $ 48,859 $ 93,413 $ 524 $ 3,767,879 Potential problem loans are loans defined as risk rating of Special Mention or worse that are not classified as a TDR or nonaccrual loan and are not individually evaluated for credit loss, but which management is closely monitoring because the financial information of the borrower causes concern as to their ability to meet their loan repayment terms. Potential problem loans as of June 30, 2020 and December 31, 2019 were $100.6 million and $87.8 million, respectively. (d) Nonaccrual Loans The following table presents the amortized cost of nonaccrual loans for the dates indicated: June 30, 2020 December 31, Nonaccrual with No ACL Nonaccrual with ACL Total Nonaccrual (1) Nonaccrual (2) (In thousands) Commercial business: Commercial and industrial $ 23,359 $ 2,458 $ 25,817 $ 33,544 Owner-occupied CRE 3,042 724 3,766 4,714 Non-owner occupied CRE 3,799 — 3,799 6,062 Total commercial business 30,200 3,182 33,382 44,320 One-to-four family residential 16 144 160 19 Consumer — 86 86 186 Total $ 30,216 $ 3,412 $ 33,628 $ 44,525 (1) Includes $429,000 of PCI loans which were converted to PCD loans and classified as nonaccrual on January 1, 2020 as part of CECL Adoption. (2) Presentation of December 31, 2019 balances is in accordance with disclosure requirements prior to CECL Adoption. The following table presents the reversal of interest income on loans due to the write-off of accrued interest receivable upon the initial classification of loans as nonaccrual loans and the interest income recognized due to payment in full of previously classified nonaccrual loans during the following period: Three Months Ended Three Months Ended Interest Income Reversed Interest Income Recognized Interest Income Reversed Interest Income Recognized (In thousands) Commercial business: Commercial and industrial $ — $ 89 $ (35) $ 11 Owner-occupied CRE — 14 (1) 39 Non-owner occupied CRE — 22 — — Total commercial business — 125 (36) 50 Real estate construction and land development: One-to-four family residential — — — 23 Consumer — 37 — — Total $ — $ 162 $ (36) $ 73 Six Months Ended Six months ended Interest Income Reversed Interest Income Recognized Interest Income Reversed Interest Income Recognized (in thousands) Commercial business: Commercial and industrial $ (16) $ 308 $ (56) $ 60 Owner-occupied CRE — 60 — 46 Non-owner occupied CRE — 67 (34) — Total commercial business (16) 435 (90) 106 Real estate construction and land development: One-to-four family residential — — (3) 23 Consumer — 47 — 6 Total $ (16) $ 482 $ (93) $ 135 For the three and six months ended June 30, 2020 and 2019, no interest income was recognized subsequent to a loan’s classification as nonaccrual, except as indicated in the table above. (e) Past due loans The Company performs an aging analysis of past due loans using policies consistent with regulatory reporting requirements with categories of 30-89 days past due and 90 or more days past due. The amortized cost of past due loans as of June 30, 2020 were as follows: June 30, 2020 30-89 Days 90 Days or Total Past Current Loan Receivable (In thousands) Commercial business: Commercial and industrial $ 4,273 $ 5,300 $ 9,573 $ 783,644 $ 793,217 SBA PPP — — — 856,490 856,490 Owner-occupied CRE 46 441 487 837,816 838,303 Non-owner occupied CRE — 111 111 1,351,664 1,351,775 Total commercial business 4,319 5,852 10,171 3,829,614 3,839,785 One-to-four family residential 140 — 140 132,406 132,546 Real estate construction and land development: One-to-four family residential — — — 108,821 108,821 Five or more family residential and commercial properties — — — 197,163 197,163 Total real estate construction and land development — — — 305,984 305,984 Consumer 687 4 691 387,327 388,018 Total $ 5,146 $ 5,856 $ 11,002 $ 4,655,331 $ 4,666,333 The following table presents the amortized cost of past due loans as of December 31, 2019 in accordance with disclosure requirements prior to CECL Adoption: December 31, 2019 30-89 Days 90 Days or Total Past Current Total PCI Loans Loan Receivable (In thousands) Commercial business: Commercial and industrial $ 10,479 $ 6,772 $ 17,251 $ 832,601 $ 849,852 $ 2,368 $ 852,220 Owner-occupied CRE 607 806 1,413 798,907 800,320 4,914 805,234 Non-owner occupied CRE 554 1,843 2,397 1,280,891 1,283,288 5,491 1,288,779 Total commercial business 11,640 9,421 21,061 2,912,399 2,933,460 12,773 2,946,233 One-to-four family residential 797 — 797 127,288 128,085 3,575 131,660 Real estate construction and land development: One-to-four family residential 1,516 — 1,516 102,780 104,296 — 104,296 Five or more family residential and commercial properties — — — 170,350 170,350 — 170,350 Total real estate construction and land development 1,516 — 1,516 273,130 274,646 — 274,646 Consumer 2,071 — 2,071 411,507 413,578 1,762 415,340 Total $ 16,024 $ 9,421 $ 25,445 $ 3,724,324 $ 3,749,769 $ 18,110 $ 3,767,879 There were no loans 90 days or more past due that were still accruing interest as of June 30, 2020 or December 31, 2019. (f) Collateral-dependent Loans The types of collateral securing individually evaluated loans for ACL on loans, and for which the repayment was expected to be provided substantially through the operation or sale of the collateral as of June 30, 2020, were as follows: Loans receivable (1) at June 30, 2020 CRE Farmland Single Family Residence Equipment or Accounts Receivable Total (In thousands) Commercial business: Commercial and industrial $ 2,013 $ 19,617 $ 1,394 $ 1,788 $ 24,812 Owner-occupied CRE 3,042 — — — 3,042 Non-owner occupied CRE 5,215 — — — 5,215 Total commercial business 10,270 19,617 1,394 1,788 33,069 One-to-four family residential — — 16 — 16 Real estate construction and land development: One-to-four family residential — — 1,751 — 1,751 Total $ 10,270 $ 19,617 $ 3,161 $ 1,788 $ 34,836 (1) Balances represent the amortized cost of loans receivable at date indicated. If multiple collateral secured the loan, the entire loan receivable balance is presented in the primary collateral category, which generally represents the majority of the collateral balance. There have been no significant changes to the collateral that secures these financial assets during the six months ended June 30, 2020, except changes due to payoffs and additions of loans being individually evaluated for ACL on loans. Under the incurred loss methodology, including the ASC 310-30 methodology for PCI loans, comparative disclosures of collateral-dependent loans as of December 31, 2019 and for the three and six months ended June 30, 2019 are similar to the disclosures for impaired loans. Impaired loans include nonaccrual loans, performing TDR loans, and other loans with a specific valuation allowance, excluding PCI loans. The amortized cost of impaired loans as of December 31, 2019 are set forth in the following table: December 31, 2019 Amortized Cost With Amortized Cost With Total Unpaid Related (In thousands) Commercial business: Commercial and industrial $ 30,179 $ 13,629 $ 43,808 $ 45,585 $ 1,372 Owner-occupied CRE 3,921 2,415 6,336 6,764 426 Non-owner occupied CRE 5,309 1,015 6,324 6,458 146 Total commercial business 39,409 17,059 56,468 58,807 1,944 One-to-four family residential — 215 215 223 56 Real estate construction and land development: One-to-four family residential 237 — 237 237 — Consumer — 561 561 570 143 Total $ 39,646 $ 17,835 $ 57,481 $ 59,837 $ 2,143 The average amortized cost of impaired loans for the three and six months ended June 30, 2019 are set forth in the following table: Three Months Ended Six Months Ended (In thousands) Commercial business: Commercial and industrial $ 25,215 $ 24,422 Owner-occupied CRE 6,178 6,058 Non-owner occupied CRE 8,221 7,506 Total commercial business 39,614 37,986 One-to-four family residential 248 259 Real estate construction and land development: One-to-four family residential 858 872 Consumer 613 584 Total $ 41,333 $ 39,701 (g) Troubled Debt Restructured Loans The amortized cost and related ACL on loans of performing and nonaccrual TDR loans as of June 30, 2020 and December 31, 2019 were as follows: June 30, 2020 December 31, 2019 Performing Nonaccrual Performing Nonaccrual (In thousands) TDR loans $ 20,687 $ 20,907 $ 14,469 $ 26,338 ACL on TDR loans 1,624 371 1,259 218 The unfunded commitment to borrowers related to TDR loans was $2.6 million and $736,000 at June 30, 2020 and December 31, 2019, respectively. Loans that were modified as TDR loans during the three and six months ended June 30, 2020 and 2019 are set forth in the following tables: Three months ended June 30, 2020 2019 Number of Amortized Cost (1) Number of Amortized Cost (1) (Dollars in thousands) Commercial business: Commercial and industrial 31 $ 11,849 14 $ 8,626 Owner-occupied CRE 4 1,657 1 710 Non-owner occupied CRE 2 398 2 3,554 Total commercial business 37 13,904 17 12,890 Real estate construction and land development: One-to-four family residential 4 1,751 — — Consumer 9 82 3 53 Total 50 $ 15,737 20 $ 12,943 Six Months Ended June 30, 2020 2019 Number of Contracts (2) Amortized Cost (1) (2) Number of Contracts (2) Amortized Cost (1) (2) (Dollars in thousands) Commercial business: Commercial and industrial 36 $ 13,893 20 $ 18,061 Owner-occupied CRE 6 3,067 3 1,628 Non-owner occupied CRE 3 2,143 3 5,642 Total commercial business 45 19,103 26 25,331 Real estate construction and land development: One-to-four family residential 4 1,751 1 560 Consumer 14 173 8 166 Total TDR loans 63 $ 21,027 35 $ 26,057 (1) Includes subsequent payments after modifications and reflects the balance as of period end. As the Bank did not forgive any principal or interest balance as part of the loan modifications, the Bank’s amortized cost in each loan at the date of modification (pre-modification) did not change as a result of the modification (post-modification). (2) Number of contracts and outstanding principal balance represent loans which have balances as of period end as certain loans may have been paid-down or charged-off during the six months ended June 30, 2020 and 2019. The tables above incl ude 34 and 37 loans, r espectively, for the three and six months ended June 30, 2020 and 12 and 20, respectively, for the three and six months ended June 30, 2019 that were previously reported as TDR loans. The Bank typically grants shorter extension periods to continually monitor these TDR loans despite the fact that the extended date might not be the date the Bank expects sufficient cash flow from these borrowers. The Bank does not consider these modifications a subsequent default of a TDR as new loan terms, specifically new maturity dates, were granted. Of the remaining first-reported TDR loans, the concessions granted largely consisted of maturity extensions, interest rate modifications or a combination of both. The potential losses related to TDR loans are considered in the period the loan was first reported as a TDR loan and are adjusted, as necessary, in the current period based on more recent information. The related ACL at June 30, 2020 for loans that were modified as TDR loans during the six months ended June 30, 2020 was $1.6 million. Loans that were modified during the previous twelve months that subsequently defaulted during the three and six months ended June 30, 2020 and 2019 are set forth in the following tables: Three months ended June 30, 2020 2019 Number of Amortized Cost Number of Amortized Cost (Dollars in thousands) Commercial business: Commercial and industrial 2 $ 302 6 $ 1,278 Owner-occupied CRE 1 445 1 399 Non-owner occupied CRE 1 280 — — Total commercial business 4 $ 1,027 7 $ 1,677 Real estate construction and land development: One-to-four family residential — — 1 560 Total 4 $ 1,027 8 $ 2,237 Six Months Ended June 30, 2020 2019 Number of Contracts (1) Amortized Cost (1) Number of Contracts (1) Amortized Cost (1) (Dollars in thousands) Commercial business: Commercial and industrial 4 $ 2,155 6 $ 1,278 Owner-occupied CRE 1 445 2 1,109 Non-owner occupied CRE 2 398 1 586 Total commercial business 7 2,998 9 2,973 Real estate construction and land development: One-to-four family residential — — 1 560 Total 7 $ 2,998 10 $ 3,533 (1) Number of contracts and outstanding principal balance represent loans which have balances as of period end as certain loans may have been paid-down or charged-off during the six months ended June 30, 2020 and 2019. During the three and six months ended June 30, 2020 and 2019 all of t he loans in the tables above defaulted because each was past its modified maturity date and the borrower has not subsequently repaid the credits. The Bank has chosen not to extend further the maturity date on these loans. The Bank had an ACL of $494,000 at June 30, 2020 related to these TDR loans which defaulted during the six months ended June 30, 2020. The Bank had a specific valuat ion allowance of $304,000 at June 30, 2019 related to these TDR loans which defaulted during the six months ended June 30, 2019. For the three and six months ended June 30, 2020 , the Bank recorded $274,000 and $882,000, respectively, of interest income related to performing TDR loans. For the three and six months ended June 30, 2019, the Bank recorded $397,000 and $698,000, respectively, of interest income related to performing TDR loans. (h) Purchased Credit Impaired Loans Upon CECL Adoption, the Company transitioned PCI loans to PCD loans. The following table reflects the outstanding principal balance and recorded investment of PCI loans at December 31, 2019: December 31, 2019 Outstanding Principal Recorded Investment (In thousands) Commercial business: Commercial and industrial $ 4,439 $ 2,368 Owner-occupied CRE 4,925 4,914 Non-owner occupied CRE 7,028 5,491 Total commercial business 16,392 12,773 One-to-four family residential 3,095 3,575 Consumer 1,463 1,762 Gross PCI loans $ 20,950 $ 18,110 On the acquisition dates, the amount by which the undiscounted expected cash flows of the PCI loans exceeded the estimated fair value of the loan was the “accretable yield.” The accretable yield was then measured at each financial reporting date and represented the difference between the remaining undiscounted expected cash flows and the current carrying value of the PCI loans. The following table summarizes the accretable yield on the PCI loans for the three and six months ended June 30, 2019: Three Months Ended Six Months Ended (In thousands) Balance at the beginning of the period $ 8,460 $ 9,493 Accretion (513) (1,094) Disposal and other (198) (650) Reclassification from nonaccretable difference 823 823 Balance at the end of the period $ 8,572 $ 8,572 |
Allowance for Loan Losses
Allowance for Loan Losses | 6 Months Ended |
Jun. 30, 2020 | |
Receivables [Abstract] | |
Allowance for Loan Losses | Allowance for Credit Losses on Loans Effective January 1, 2020, the Bank adopted ASU 2016-13. The adoption replaced the allowance for loan losses with the ACL on loans and replaced the related provision for loan losses with the provision for credit losses on loans. The baseline loss rates used to calculate the ACL on loans at January 1, 2020 utilized the bank's average quarterly historical loss information from December 31, 2007 through December 31, 2019. The baseline loss rate period for the ACL at June 30, 2020 used historical losses beginning December 31, 2012 through the balance sheet date. The Bank updated the historical loss period as it believes the economic cycle has ended, as evidenced by certain economic forecasts signaling that a recession has started given the prolonged, profound, and pervasive contraction in economic activities, otherwise known as the Global Coronavirus Recession. The Bank believes the historic loss rates are viable inputs to the current expected credit loss methodology as the Bank's lending practice and business has remained relatively stable throughout the periods. While the Bank's assets have grown, the credit culture has stayed consistent. Prepayments included in the methodology at January 1, 2020 and June 30, 2020 were based on the 48-month rolling historical averages for each segment, which management believes is an accurate representation of future prepayment activity. Management's allowance estimates at January 1, 2020 and June 30, 2020 used a four quarter reasonable and supportable period, as forecasts beyond this time period tend to diverge in economic assumptions and may be less comparable to actual future events. As the length of the reasonable and supportable period increases, the degree of judgment involved in estimating the allowance will likely increase. The Bank used a two quarter reversion period in calculating its allowance as of January 1, 2020 and June 30, 2020 as it believes the historical loss information is relevant to the expected credit losses and recognizes the declining precision and increasing uncertainty of estimating credit losses in those periods beyond which it can make reasonable and supportable forecasts. Risk characteristics by segment considered in the CECL methodology are the same as those disclosed in the 2019 Annual Form 10-K. The following tables detail the activity in the ACL on loans disaggregated by segment and class for the three and six months ended June 30, 2020: Three Months Ended June 30, 2020 Beginning Balance Charge-offs Recoveries Provision for Credit Losses Ending Balance (In thousands) Commercial business: Commercial and industrial $ 13,900 $ (1,824) $ 69 $ 17,628 $ 29,773 SBA PPP — — — — — Owner-occupied CRE 6,216 — 2 3,785 10,003 Non-owner occupied CRE 7,750 — — 2,916 10,666 Total commercial business 27,866 (1,824) 71 24,329 50,442 One-to-four family residential 3,026 — — (803) 2,223 Real estate construction and land development: One-to-four family residential 864 — 7 (304) 567 Five or more family residential and commercial properties 11,444 — — (2,887) 8,557 Total real estate construction and land development 12,308 — 7 (3,191) 9,124 Consumer 4,340 (431) 197 5,606 9,712 Total $ 47,540 $ (2,255) $ 275 $ 25,941 $ 71,501 Six Months Ended June 30, 2020 Balance at Beginning Impact of CECL Adoption Beginning Balance, as Adjusted Charge-offs Recoveries Provision for Credit Losses Ending Balance (In thousands) Commercial business: Commercial and industrial $ 11,739 $ (1,348) $ 10,391 $ (2,911) $ 1,126 $ 21,167 $ 29,773 SBA PPP — — — — — — — Owner-occupied CRE 4,512 452 4,964 (135) 14 5,160 10,003 Non-owner occupied CRE 7,682 (2,039) 5,643 — — 5,023 10,666 Total commercial business 23,933 (2,935) 20,998 (3,046) 1,140 31,350 50,442 One-to-four family residential 1,458 1,471 2,929 — 3 (709) 2,223 Real estate construction and land development: One-to-four family residential 1,455 (571) 884 — 21 (338) 567 Five or more family residential and commercial properties 1,605 7,240 8,845 — — (288) 8,557 Total real estate construction and land development 3,060 6,669 9,729 — 21 (626) 9,124 Consumer 6,821 (2,484) 4,337 (806) 291 5,890 9,712 Unallocated 899 (899) — — — Total $ 36,171 $ 1,822 $ 37,993 $ (3,852) $ 1,455 $ 35,905 $ 71,501 The Bank recognized net charge-offs of $2.4 million during the six months ended June 30, 2020 primarily due to a commercial and industrial charge-off of $1.7 million related to a lending relationship that has been experiencing difficulties. Due to issues surrounding the control of the underlying loan collateral, the Bank determined it appropriate to charge-off the entire balance and pursue an aggressive collection strategy. Net charge-offs also included small dollar charge-off on a large volume of consumer loans of $806,000 and a full recovery of a commercial and industrial agricultural lending relationship of $963,000 during the six months ended June 30, 2020, which was charged-off during the three months ended December 31, 2019. The provision for credit losses on loans of $35.9 million for the six months ended June 30, 2020 was necessary to build the allowance to account for the current and forecasted economic conditions amidst COVID-19. The macroeconomic forecast used in the June 30, 2020 CECL model was as of June 9, 2020, and included the actual results of the sharp recession, followed by forecasted widened "U-shaped" recovery with unemployment rate spiking to 13% in second quarter 2020 and decreasing to 5% by 2023, and GDP slumping 6.1% in 2020, but rebounding 6.3% in 2021, with modest increases in GDP in future years. This forecast is in stark contrast to that used in CECL model as of January 1, 2020, which predicted steady GDP growth and unemployment rates, among other factors. The following tables detail activity in the allowance for loan losses disaggregated by segment and class for the three and six months ended June 30, 2019 under the incurred loss methodology, including the ASC 310-30 methodology for PCI loans: Three Months Ended June 30, 2019 Beginning Balance Charge-offs Recoveries Provision for Loan Losses Ending Balance (In thousands) Commercial business: Commercial and industrial $ 11,755 $ (774) $ 62 $ 950 $ 11,993 Owner-occupied CRE 5,256 — — (190) 5,066 Non-owner occupied CRE 7,825 — — 239 8,064 Total commercial business 24,836 (774) 62 999 25,123 One-to-four family residential 1,247 (15) — 113 1,345 Real estate construction and land development: One-to-four family residential 1,422 — 7 42 1,471 Five or more family residential and commercial properties 995 — — 65 1,060 Total real estate construction and land development 2,417 — 7 107 2,531 Consumer 6,480 (566) 130 496 6,540 Unallocated 1,172 — — (348) 824 Total $ 36,152 $ (1,355) $ 199 $ 1,367 $ 36,363 Six Months Ended June 30, 2019 Beginning Balance Charge-offs Recoveries Provision for Loan Losses Ending Balance (In thousands) Commercial business: Commercial and industrial $ 11,343 $ (877) $ 69 $ 1,458 $ 11,993 Owner-occupied CRE 4,898 — 3 165 5,066 Non-owner occupied CRE 7,470 — 149 445 8,064 Total commercial business 23,711 (877) 221 2,068 25,123 One-to-four family residential 1,203 (30) — 172 1,345 Real estate construction and land development: One-to-four family residential 1,240 — 625 (394) 1,471 Five or more family residential and commercial properties 954 — — 106 1,060 Total real estate construction and land development 2,194 — 625 (288) 2,531 Consumer 6,581 (1,152) 247 864 6,540 Unallocated 1,353 — — (529) 824 Total $ 35,042 $ (2,059) $ 1,093 $ 2,287 $ 36,363 The following table details the allowance for loan losses disaggregated on the basis of the Company's impairment method as of December 31, 2019 under the incurred loss methodology, including the ASC 310-30 methodology for PCI loans: Loans Individually Evaluated for Impairment Loans Collectively Evaluated for Impairment PCI Loans Total Allowance for Loan Losses (In thousands) Commercial business: Commercial and industrial $ 1,372 $ 9,772 $ 595 $ 11,739 Owner-occupied CRE 426 3,558 528 4,512 Non-owner occupied CRE 146 7,064 472 7,682 Total commercial business 1,944 20,394 1,595 23,933 One-to-four family residential 56 1,316 86 1,458 Real estate construction and land development: One-to-four family residential — 1,296 159 1,455 Five or more family residential and commercial properties — 1,527 78 1,605 Total real estate construction and land development — 2,823 237 3,060 Consumer 143 6,327 351 6,821 Unallocated — 899 — 899 Total $ 2,143 $ 31,759 $ 2,269 $ 36,171 The following table details the amortized cost of the loan receivables disaggregated on the basis of the Company’s impairment method as of December 31, 2019 under the incurred loss methodology, including the ASC 310-30 methodology for PCI loans: Loans Individually Evaluated for Impairment Loans Collectively Evaluated for Impairment PCI Loans Loans Receivable (In thousands) Commercial business: Commercial and industrial $ 43,808 $ 806,044 $ 2,368 $ 852,220 Owner-occupied CRE 6,336 793,984 4,914 805,234 Non-owner occupied CRE 6,324 1,276,964 5,491 1,288,779 Total commercial business 56,468 2,876,992 12,773 2,946,233 One-to-four family residential 215 127,870 3,575 131,660 Real estate construction and land development: One-to-four family residential 237 104,059 — 104,296 Five or more family residential and commercial properties — 170,350 — 170,350 Total real estate construction and land development 237 274,409 — 274,646 Consumer 561 413,017 1,762 415,340 Total $ 57,481 $ 3,692,288 $ 18,110 $ 3,767,879 |
Other Real Estate Owned
Other Real Estate Owned | 6 Months Ended |
Jun. 30, 2020 | |
Real Estate [Abstract] | |
Other Real Estate Owned | Other Real Estate Owned Changes in other real estate owned during the three and six months ended June 30, 2020 and 2019 were as follows: Three Months Ended Six Months Ended 2020 2019 2020 2019 (In thousands) Balance at the beginning of the period $ 841 $ 1,904 $ 841 $ 1,983 Additions — — 270 — Proceeds from dispositions (1,024) (350) (1,290) (429) Gain (loss) on sales, net 183 (279) 179 (279) Valuation adjustment — (51) — (51) Balance at the end of the period $ — $ 1,224 $ — $ 1,224 At June 30, 2020, there were no consumer mortgage loans secured by residential real estate properties (included in the one-to-four family residential loans in Note (3) Loans Receivable) for which formal foreclosure proceedings were in process. |
Goodwill and Other Intangible A
Goodwill and Other Intangible Assets | 6 Months Ended |
Jun. 30, 2020 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Other Intangible Assets | Goodwill and Other Intangible Assets (a) Goodwill The Company’s goodwill represents the excess of the purchase price over the fair value of net assets acquired in the following mergers: Premier Commercial Bancorp on July 2, 2018; Puget Sound Bancorp on January 16, 2018; Washington Banking Company on May 1, 2014; Valley Community Bancshares on July 15, 2013; Western Washington Bancorp in 2006 and North Pacific Bank in 1998. The Company’s goodwill is assigned to the Bank and is evaluated for impairment at the Bank level (reporting unit). There were no additions to goodwill during the three and six months ended June 30, 2020 and 2019. The Company performed its annual goodwill impairment test during the fourth quarter of 2019 and determined based on its Step 1 analysis that the fair value of the reporting unit exceeded the carrying value, such that the Company's goodwill was not considered impaired. Due to the deteriorating market conditions as a result of the COVID-19 pandemic, the Company determined a triggering event occurred during the quarter ended June 30, 2020 and consequently performed a quantitative assessment of goodwill as of May 31, 2020. We estimated the fair value of the reporting unit by weighting results from the market approach and the income approach. Significant assumptions inherent in the valuation methodologies for goodwill were employed and included, but were not limited to, prospective financial information, growth rates, terminal value, discount rates, and comparable multiples from publicly traded companies in our industry. Based on this quantitative test, we determined that the fair value of the reporting unit more likely than not exceeded the carrying value. Changes in the economic environment, operations of the reporting unit or other adverse events could result in future impairment charges which could have a material adverse impact on the Company’s operating results. (b) Other Intangible Assets Other intangible assets represent CDI acquired in business combinations. The useful life of the CDI was estimated to be ten years for the acquisitions of Premier Commercial Bancorp, Puget Sound Bancorp, Washington Banking Company, and Valley Community Bancshares. The following table presents the change in other intangible assets for the periods indicated: Three Months Ended Six Months Ended 2020 2019 2020 2019 (In thousands) Balance at the beginning of the period $ 15,710 $ 19,589 $ 16,613 $ 20,614 Amortization (903) (1,026) (1,806) (2,051) Balance at the end of the period $ 14,807 $ 18,563 $ 14,807 $ 18,563 |
Junior Subordinated Debentures
Junior Subordinated Debentures | 6 Months Ended |
Jun. 30, 2020 | |
Debt Disclosure [Abstract] | |
Junior Subordinated Debentures | Junior Subordinated Debentures As part of the acquisition of Washington Banking Company on May 1, 2014, the Company assumed trust preferred securities and junior subordinated debentures with a total fair value of $18.9 million at the merger date. At June 30, 2020 and December 31, 2019, the balance of the junior subordinated debentures, net of unaccreted discount, was $20.7 million and $20.6 million, respectively. The adjustable rate of the trust preferred securities at June 30, 2020 was 1.86%. The following table presents the weighted average rate of the junior subordinated debentures for the periods indicated: Three Months Ended Six Months Ended 2020 2019 2020 2019 Weighted average rate (1) 4.24 % 6.68 % 4.90 % 6.87 % (1) The weighted average rate includes the accretion of the discount established at the merger date which is amortized over the life of the trust preferred securities. (a) FHLB The FHLB functions as a member-owned cooperative providing credit for member financial institutions. At June 30, 2020, the Bank maintained a credit facility with the FHLB with available borrowing capacity of $942.8 million. At June 30, 2020 and December 31, 2019 the Bank had no FHLB advances outstanding. The following table sets forth the details of FHLB advances during the three and six months ended June 30, 2020 and 2019: Three Months Ended Six Months Ended 2020 2019 2020 2019 (In thousands) Average balance during the period $ 4,909 $ 42,101 $ 2,949 $ 22,086 Maximum month-end balance during the period $ — $ 90,700 $ — $ 90,700 Weighted average rate during the period 0.57 % 2.65 % 0.55 % 2.68 % Advances from the FHLB are collateralized by a blanket pledge on FHLB stock owned by the Bank, deposits at the FHLB, certain commercial real estate and one-to-four single family residential loans, investment securities which are obligations of or guaranteed by the United States or other assets. In accordance with the pledge agreement, the Company must maintain unencumbered collateral in an amount equal to varying percentages ranging from 100% to 160% of outstanding advances depending on the type of collateral. (b) Federal Funds Purchased The Bank maintains advance lines with Wells Fargo Bank, US Bank, The Independent Bankers Bank, Pacific Coast Bankers’ Bank and JP Morgan Chase to purchase federal funds of up to $215.0 million as of June 30, 2020. The lines generally mature annually or are reviewed annually. As of June 30, 2020 and December 31, 2019, there were no federal funds purchased. (c) Credit Facilities The Bank maintains a credit facility with the Federal Reserve Bank with available borrowing capacity of $60.3 million as of June 30, 2020. There were no borrowings outstanding as of June 30, 2020 and December 31, 2019. Any advances on the credit facility would have to be first secured by the Bank's investment securities or loans receivable. (d) PPPLF Facility The Federal Reserve established the PPPLF under Section 13(3) of the Federal Reserve Act to bolster the effectiveness of the SBA PPP, which provides relief to American workers and businesses from the impacts of COVID-19. Under the PPPLF, the Federal Reserve will supply liquidity to participating financial institutions through term financing backed by PPP loans. As of June 30, 2020, although the Bank was approved to utilize the PPPLF, the Bank had not participated in the PPPLF program. |
Securities Sold Under Agreement
Securities Sold Under Agreement to Repurchase | 6 Months Ended |
Jun. 30, 2020 | |
Disclosure of Repurchase Agreements [Abstract] | |
Securities Sold Under Agreement to Repurchase | Securities Sold Under Agreement to Repurchase The Company utilizes securities sold under agreement to repurchase with one day maturities secured by pledged investment securities available for sale as a supplement to funding sources. For additional information on the total value of investment securities pledged for securities sold under agreement to repurchase see Note (2) Investment Securities. The following table presents the Company's securities sold under agreement to repurchase obligations by class of collateral pledged at the dates indicated: June 30, December 31, (In thousands) Mortgage-backed securities and collateralized mortgage obligations: Residential $ 862 $ 8,452 Commercial 23,582 11,717 Securities sold under agreement to repurchase $ 24,444 $ 20,169 |
Other Borrowings
Other Borrowings | 6 Months Ended |
Jun. 30, 2020 | |
Debt Disclosure [Abstract] | |
Other Borrowings | Junior Subordinated Debentures As part of the acquisition of Washington Banking Company on May 1, 2014, the Company assumed trust preferred securities and junior subordinated debentures with a total fair value of $18.9 million at the merger date. At June 30, 2020 and December 31, 2019, the balance of the junior subordinated debentures, net of unaccreted discount, was $20.7 million and $20.6 million, respectively. The adjustable rate of the trust preferred securities at June 30, 2020 was 1.86%. The following table presents the weighted average rate of the junior subordinated debentures for the periods indicated: Three Months Ended Six Months Ended 2020 2019 2020 2019 Weighted average rate (1) 4.24 % 6.68 % 4.90 % 6.87 % (1) The weighted average rate includes the accretion of the discount established at the merger date which is amortized over the life of the trust preferred securities. (a) FHLB The FHLB functions as a member-owned cooperative providing credit for member financial institutions. At June 30, 2020, the Bank maintained a credit facility with the FHLB with available borrowing capacity of $942.8 million. At June 30, 2020 and December 31, 2019 the Bank had no FHLB advances outstanding. The following table sets forth the details of FHLB advances during the three and six months ended June 30, 2020 and 2019: Three Months Ended Six Months Ended 2020 2019 2020 2019 (In thousands) Average balance during the period $ 4,909 $ 42,101 $ 2,949 $ 22,086 Maximum month-end balance during the period $ — $ 90,700 $ — $ 90,700 Weighted average rate during the period 0.57 % 2.65 % 0.55 % 2.68 % Advances from the FHLB are collateralized by a blanket pledge on FHLB stock owned by the Bank, deposits at the FHLB, certain commercial real estate and one-to-four single family residential loans, investment securities which are obligations of or guaranteed by the United States or other assets. In accordance with the pledge agreement, the Company must maintain unencumbered collateral in an amount equal to varying percentages ranging from 100% to 160% of outstanding advances depending on the type of collateral. (b) Federal Funds Purchased The Bank maintains advance lines with Wells Fargo Bank, US Bank, The Independent Bankers Bank, Pacific Coast Bankers’ Bank and JP Morgan Chase to purchase federal funds of up to $215.0 million as of June 30, 2020. The lines generally mature annually or are reviewed annually. As of June 30, 2020 and December 31, 2019, there were no federal funds purchased. (c) Credit Facilities The Bank maintains a credit facility with the Federal Reserve Bank with available borrowing capacity of $60.3 million as of June 30, 2020. There were no borrowings outstanding as of June 30, 2020 and December 31, 2019. Any advances on the credit facility would have to be first secured by the Bank's investment securities or loans receivable. (d) PPPLF Facility The Federal Reserve established the PPPLF under Section 13(3) of the Federal Reserve Act to bolster the effectiveness of the SBA PPP, which provides relief to American workers and businesses from the impacts of COVID-19. Under the PPPLF, the Federal Reserve will supply liquidity to participating financial institutions through term financing backed by PPP loans. As of June 30, 2020, although the Bank was approved to utilize the PPPLF, the Bank had not participated in the PPPLF program. |
Derivative Financial Instrument
Derivative Financial Instruments | 6 Months Ended |
Jun. 30, 2020 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Financial Instruments | Derivative Financial Instruments The Company has entered into certain interest rate swap contracts that are not designated as hedging instruments. The following table presents the notional amounts and estimated fair values of interest rate derivative contracts outstanding at June 30, 2020 and December 31, 2019: June 30, 2020 December 31, 2019 Notional Amounts Estimated Fair Value Notional Amounts Estimated Fair Value (In thousands) Non-hedging interest rate derivatives Interest rate swap asset (1) $ 271,348 $ 31,618 $ 221,436 $ 8,318 Interest rate swap liability (1) 271,348 (31,618) 221,436 (8,318) (1) The estimated fair value of derivatives with customers was $31.6 million and $8.1 million as of June 30, 2020 and December 31, 2019, respectively. The estimated fair value of derivatives with third parties was $(31.6) million and $(8.1) million as of June 30, 2020 and December 31, 2019, respectively. |
Stockholders' Equity
Stockholders' Equity | 6 Months Ended |
Jun. 30, 2020 | |
Stockholders' Equity Note [Abstract] | |
Stockholders' Equity | Stockholders’ Equity (a) Earnings Per Common Share The following table illustrates the reconciliation of weighted average shares used for earnings per common share computations for the three and six months ended June 30, 2020 and 2019: Three Months Ended Six Months Ended 2020 2019 2020 2019 (In thousands) Net (loss) income: Net (loss) income $ (6,139) $ 15,984 $ 6,052 $ 32,536 Dividends and undistributed earnings allocated to participating securities (1) — (11) (3) (38) Net (loss) income allocated to common shareholders $ (6,139) $ 15,973 $ 6,049 $ 32,498 Basic: Weighted average common shares outstanding 35,899,361 36,895,625 36,128,586 36,888,601 Restricted stock awards (645) (25,466) (8,183) (40,632) Total basic weighted average common shares outstanding 35,898,716 36,870,159 36,120,403 36,847,969 Diluted: Basic weighted average common shares outstanding 35,898,716 36,870,159 36,120,403 36,847,969 Effect of potentially dilutive common shares (2) — 144,714 154,988 163,767 Total diluted weighted average common shares outstanding 35,898,716 37,014,873 36,275,391 37,011,736 (1) Represents dividends paid and undistributed earnings allocated to unvested restricted stock awards. (2) Represents the effect of the assumed exercise of stock options and vesting of restricted stock awards and units. Potential dilutive shares are excluded from the computation of earnings per share if their effect is anti-dilutive. Anti-dilution occurs when the exercise price of a stock option or the unrecognized compensation cost per share of a restricted stock award exceeds the market price of the Company’s stock. For the three and six months ended June 30, 2020, there were 258,412 and 124,904 anti-dilutive shares outstanding, respectively. For the three and six months ended June 30, 2019, there were 89,507 and 61,333 anti-dilutive shares outstanding, respectively. (b) Dividends The timing and amount of cash dividends paid on the Company's common stock depends on the Company’s earnings, capital requirements, financial condition and other relevant factors. Dividends on common stock from the Company depend substantially upon receipt of dividends from the Bank, which is the Company’s predominant source of income. The following table summarizes the dividend activity for the six months ended June 30, 2020 and calendar year 2019: Declared Cash Dividend per Share Record Date Paid Date January 23, 2019 $0.18 February 7, 2019 February 21, 2019 April 24, 2019 $0.18 May 8, 2019 May 22, 2019 July 24, 2019 $0.19 August 8, 2019 August 22, 2019 October 23, 2019 $0.19 November 7, 2019 November 21, 2019 October 23, 2019 $0.10 November 7, 2019 November 21, 2019 * January 22, 2020 $0.20 February 6, 2020 February 20, 2020 April 29, 2020 $0.20 May 13, 2020 May 27, 2020 * Denotes a special dividend. The FDIC and the Washington State Department of Financial Institutions, Division of Banks have the authority under their supervisory powers to prohibit the payment of dividends by the Bank to the Company. Additionally, current guidance from the Federal Reserve provides, among other things, that dividends per share on the Company’s common stock generally should not exceed earnings per share, measured over the previous four fiscal quarters. Current regulations allow the Company and the Bank to pay dividends on their common stock if the Company’s or the Bank’s regulatory capital would not be reduced below the statutory capital requirements set by the Federal Reserve and the FDIC. (c) Stock Repurchase Program The Company has had various stock repurchase programs since March 1999. On March 12, 2020 the Company's Board of Directors authorized the repurchase of up to 5% of the Company's outstanding common shares, or 1,799,054 shares, under the twelfth stock repurchase plan. The number, timing and price of shares repurchased will depend on business and market conditions and other factors, including opportunities to deploy the Company's capital. No shares were repurchased under the Company's stock repurchase plans during the three months ended June 30, 2020 as the Company suspended repurchases in response to the COVID-19 pandemic. During the six months ended June 30, 2020, the Company repurchased the remaining 639,922 shares available under the eleventh stock repurchase plan at a weighted average price per share of $23.95 and repurchased 155,778 shares at a weighted average share price of $20.34 under the twelfth stock repurchase plan, which is a total of 795,700 shares under both plans at a weighted average share price of $23.25. During the three and six months ended June 30, 2019, the Company repurchased 28,000 shares available under the eleventh stock repurchase plan at a weighted average price per share of $29.12. In addition to the stock repurchases under a stock repurchase plan, the Company repurchases shares to pay withholding taxes on the vesting of restricted stock awards and units. The following table provides total shares repurchased to pay withholding taxes during the periods indicated: Three Months Ended Six Months Ended 2020 2019 2020 2019 Repurchased shares to pay withholding taxes 2,046 2,175 27,928 28,029 Stock repurchase to pay withholding taxes average share price $ 18.62 $ 29.31 $ 21.56 $ 30.88 |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income (Loss) | 6 Months Ended |
Jun. 30, 2020 | |
Equity [Abstract] | |
Accumulated Other Comprehensive Income (Loss) | Accumulated Other Comprehensive Income The changes in AOCI, all of which are due to changes in the fair value of available for sale securities and are net of tax, during the three and six months ended June 30, 2020 and 2019 are as follows: Three Months Ended Six Months Ended 2020 2019 2020 2019 (In thousands) Balance of AOCI at the beginning of period $ 18,292 $ 561 $ 10,378 $ (7,455) Other comprehensive income before reclassification 8,009 9,219 16,716 17,247 Amounts reclassified from AOCI for gain on sale of investment securities included in net (loss) income (320) (26) (1,113) (38) Net current period other comprehensive income 7,689 9,193 15,603 17,209 Balance of AOCI at the end of period $ 25,981 $ 9,754 $ 25,981 $ 9,754 |
Fair Value Measurements
Fair Value Measurements | 6 Months Ended |
Jun. 30, 2020 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | Fair Value Measurements Fair value is the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. There are three levels of inputs that may be used to measure fair values: Level 1 : Valuations for assets and liabilities traded in active exchange markets, or interest in open-end mutual funds that allow the Company to sell its ownership interest back to the fund at net asset value on a daily basis. Valuations are obtained from readily available pricing sources for market transactions involving identical assets, liabilities, or funds. Level 2 : Valuations for assets and liabilities traded in less active dealer or broker markets, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or valuations using methodologies with observable inputs. Level 3 : Valuations for assets and liabilities that are derived from other valuation methodologies, such as option pricing models, discounted cash flow models and similar techniques using unobservable inputs, and not based on market exchange, dealer, or broker traded transactions. Level 3 valuations incorporate certain assumptions and projections in determining the fair value assigned to such assets or liabilities. (a) Recurring and Nonrecurring Basis The Company used the following methods and significant assumptions to measure the fair value of certain assets on a recurring and nonrecurring basis: Investment Securities Available for Sale : The fair values of all investment securities are based upon the assumptions that market participants would use in pricing the security. If available, fair values of investment securities are determined by quoted market prices (Level 1). For investment securities where quoted market prices are not available, fair values are calculated based on market prices on similar securities (Level 2). For investment securities where quoted prices or market prices of similar securities are not available, fair values are calculated by using observable and unobservable inputs such as discounted cash flows or other market indicators (Level 3). Security valuations are obtained from third party pricing services for comparable assets or liabilities. Collateral-Dependent Loans : Collateral-dependent loans are identified as part of the calculation of the ACL on loans. The fair value used to measure credit loss for this type of loan is commonly based on recent real estate appraisals which are generally obtained at least every 18 months or earlier if there are changes to risk characteristics of the underlying loan. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. Adjustments are routinely made in the appraisal process by independent appraisers to adjust for differences between the comparable sales and income data available. Such adjustments are usually significant and typically result in a Level 3 classification of the inputs for determining fair value. Non-real estate collateral may be valued using an appraisal, net book value based on 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 (Level 3). Individually evaluated loans are evaluated on a quarterly basis and their ACL on loans is adjusted accordingly. Other Real Estate Owned : Assets acquired through or instead of loan foreclosure are initially recorded at fair value less costs to sell when acquired, establishing a new cost basis. These assets are subsequently accounted for at lower of cost or fair value less costs to sell. Fair value is commonly based on recent real estate appraisals which are generally obtained at least every 18 months or earlier. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. Adjustments are routinely made in the appraisal process by independent appraisers to adjust for differences between the comparable sales and income data available. Such adjustments are usually significant and typically result in Level 3 classification of the inputs for determining fair value. Appraisals for both collateral-dependent loans and other real estate owned are performed by certified general appraisers for commercial properties or certified residential appraisers for residential properties whose qualifications and licenses have been reviewed and verified by the Company. Once received, the Company reviews the assumptions and approaches utilized in the appraisal as well as the resulting fair value in comparison with independent data sources such as recent market data or industry-wide statistics. On a quarterly basis, the Company compares the actual selling price of collateral that has been liquidated to the most recent appraised value to determine what additional adjustment should be made to the appraisal value to arrive at fair value. Derivative Financial Instruments: The Company obtains broker or dealer quotes to value its interest rate derivative contracts, which use valuation models using observable market data as of the measurement date (Level 2). The following tables summarize the balances of assets and liabilities measured at fair value on a recurring basis as of June 30, 2020 and December 31, 2019: June 30, 2020 Total Level 1 Level 2 Level 3 (In thousands) Assets Investment securities available for sale: U.S. Treasury and U.S. Government-sponsored agencies $ 52,051 $ — $ 52,051 $ — Municipal securities 193,931 — 193,931 — Mortgage-backed securities and collateralized mortgage obligations: Residential 268,984 — 268,984 — Commercial 318,341 — 318,341 — Corporate obligations 24,249 — 24,249 — Other asset-backed securities 22,371 — 22,371 — Total investment securities available for sale 879,927 — 879,927 — Equity security 112 112 — — Derivative assets - interest rate swaps 31,618 — 31,618 — Liabilities Derivative liabilities - interest rate swaps $ 31,618 $ — $ 31,618 $ — December 31, 2019 Total Level 1 Level 2 Level 3 (In thousands) Assets Investment securities available for sale: U.S. Treasury and U.S. Government-sponsored agencies $ 105,223 $ — $ 105,223 $ — Municipal securities 133,014 — 133,014 — Mortgage-backed securities and collateralized mortgage obligations: Residential 339,608 — 339,608 — Commercial 327,095 — 327,095 — Corporate obligations 24,194 — 24,194 — Other asset-backed securities 23,178 — 23,178 — Total investment securities available for sale 952,312 — 952,312 — Equity Security 148 148 — — Derivative assets - interest rate swaps 8,318 — 8,318 — Liabilities Derivative liabilities - interest rate swaps $ 8,318 $ — $ 8,318 $ — Nonrecurring Basis The Company may be required to measure certain financial assets and liabilities at fair value on a nonrecurring basis. These adjustments to fair value usually result from application of lower-of-cost-or-market accounting or write-downs of individual assets. The following tables below represent assets measured at fair value on a nonrecurring basis at June 30, 2020 and December 31, 2019 and the net losses recorded in earnings during three and six months ended June 30, 2020 and 2019: Basis (1) Fair Value at June 30, 2020 Total Level 1 Level 2 Level 3 Net Gains Net Gains (In thousands) Collateral-dependent loans: Commercial business: Commercial and industrial $ 293 $ 270 $ — $ — $ 270 $ 9 $ 3 Total assets measured at fair value on a nonrecurring basis $ 293 $ 270 $ — $ — $ 270 $ 9 $ 3 (1) Basis represents the unpaid principal balance of impaired loans. Excludes loans whose fair value was determined to be $0. Basis (1) Fair Value at December 31, 2019 Total Level 1 Level 2 Level 3 Net Gains Recorded in Earnings During the Three Months EndedJune 30, 2019 Net Gains Recorded in Earnings During the Six Months EndedJune 30, 2019 (In thousands) Impaired loans: Commercial business: Commercial and industrial $ 4,111 $ 3,380 $ — $ — $ 3,380 $ 1 $ 1 Total assets measured at fair value on a nonrecurring basis $ 4,111 $ 3,380 $ — $ — $ 3,380 $ 1 $ 1 (1) Basis represents the unpaid principal balance of impaired loans. The following tables present quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis at June 30, 2020 and December 31, 2019: June 30, 2020 Fair Valuation Unobservable Input(s) Range of Inputs; Weighted (Dollars in thousands) Collateral-dependent loans $ 270 Market approach Adjustment for differences between the comparable sales N/A (1) (1) Quantitative disclosures are not provided for collateral-dependent loans because there were no adjustments made to the appraisal or stated values during the current period. December 31, 2019 Fair Valuation Unobservable Input(s) Range of Inputs; Weighted (Dollars in thousands) Impaired loans $ 3,380 Market approach Adjustment for differences between the comparable sales 173.5% - (18.5%); 36.8% (b) Fair Value of Financial Instruments Because broadly traded markets do not exist for most of the Company’s financial instruments, the fair value calculations attempt to incorporate the effect of current market conditions at a specific time. These determinations are subjective in nature, involve uncertainties and matters of significant judgment and do not include tax ramifications; therefore, the results cannot be determined with precision, substantiated by comparison to independent markets and may not be realized in an actual sale or immediate settlement of the instruments. There may be inherent weaknesses in any calculation technique, and changes in the underlying assumptions used, including discount rates and estimates of future cash flows, could significantly affect the results. For all of these reasons, the aggregation of the fair value calculations presented herein do not represent, and should not be construed to represent, the underlying value of the Company. The following tables present the carrying value amount of the Company’s financial instruments and their corresponding estimated fair values at June 30, 2020 and December 31, 2019: June 30, 2020 Carrying Value Fair Value Fair Value Measurements Using: Level 1 Level 2 Level 3 (In thousands) Financial Assets: Cash and cash equivalents $ 415,075 $ 415,075 $ 415,075 $ — $ — Investment securities available for sale 879,927 879,927 — 879,927 — Loans held for sale 3,783 3,908 — — 3,908 Loans receivable, net 4,594,832 4,762,913 — — 4,762,913 Accrued interest receivable 17,813 17,813 10 3,887 13,916 Derivative assets - interest rate swaps 31,618 31,618 — 31,618 — Equity security 112 112 112 — — Financial Liabilities: Noninterest deposits, interest bearing demand deposits, money market accounts and savings accounts $ 5,077,086 $ 5,077,086 $ 5,077,086 $ — $ — Certificate of deposit accounts 490,647 494,093 — 494,093 — Securities sold under agreement to repurchase 24,444 24,444 24,444 — — Junior subordinated debentures 20,741 18,000 — — 18,000 Accrued interest payable 124 124 52 51 21 Derivative liabilities - interest rate swaps 31,618 31,618 — 31,618 — December 31, 2019 Carrying Value Fair Value Fair Value Measurements Using: Level 1 Level 2 Level 3 (In thousands) Financial Assets: Cash and cash equivalents $ 228,568 $ 228,568 $ 228,568 $ — $ — Investment securities available for sale 952,312 952,312 — 952,312 — Loans held for sale 5,533 5,704 — — 5,704 Loans receivable, net 3,731,708 3,791,557 — — 3,791,557 Accrued interest receivable 14,446 14,446 79 3,668 10,699 Derivative assets - interest rate swaps 8,318 8,318 — 8,318 — Equity security 148 148 148 — — Financial Liabilities: Noninterest deposits, interest bearing demand deposits, money market accounts and savings accounts $ 4,058,098 $ 4,058,098 $ 4,058,098 $ — $ — Certificate of deposit accounts 524,578 529,679 — 529,679 — Securities sold under agreement to repurchase 20,169 20,169 20,169 — — Junior subordinated debentures 20,595 20,000 — — 20,000 Accrued interest payable 199 199 95 64 40 Derivative liabilities - interest rate swaps 8,318 8,318 — 8,318 — |
Cash Requirement
Cash Requirement | 6 Months Ended |
Jun. 30, 2020 | |
Banking and Thrift [Abstract] | |
Cash Requirement | Cash RequirementThe Company is required to maintain an average reserve balance with the Federal Reserve Bank or maintain such reserve balance in the form of cash. Effective March 24, 2020 the Federal Reserve lowered the reserve ratios on transaction accounts maintained at a depository institution to zero percent. There was no required reserve balance at June 30, 2020 and a required balance of $17.1 million at December 31, 2019 was met by holding cash and maintaining an average balance with the Federal Reserve Bank. |
Commitments and Contingencies
Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2020 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies Disclosure [Text Block] | Commitments and Contingencies In the ordinary course of business, the Company may enter into various types of transactions that include commitments to extend credit that are not included in its Condensed Consolidated Financial Statements. The Company applies the same credit standards to these commitments as it uses in all its lending activities and has included these commitments in its lending risk evaluations. The majority of the commitments presented below are variable rate. Loan commitments can be either revolving or nonrevolving. The Company’s exposure to credit and market risk under commitments to extend credit is represented by the amount of these commitments. Upon CECL adoption, as described in Note (1) Description of Business, Basis of Presentation, Significant Accounting Policies and Recently Issued Accounting Pronouncements, the Company recorded an increase in the beginning ACL on unfunded commitments of $3.7 million, representing the change in methodology from an estimate of incurred losses at the balance sheet date, with an estimated probability of funding, to an estimate of losses on future utilization over the entire contractual period. The following table presents outstanding commitments to extend credit, including letters of credit, at the dates indicated: June 30, 2020 December 31, 2019 (In thousands) Commercial business: Commercial and industrial $ 644,184 $ 584,287 Owner-occupied CRE 9,611 17,193 Non-owner occupied CRE 22,296 35,573 Total commercial business 676,091 637,053 Real estate construction and land development: One-to-four family residential 63,144 75,066 Five or more family residential and commercial properties 193,650 230,343 Total real estate construction and land development 256,794 305,409 Consumer 255,477 269,898 Total outstanding commitments $ 1,188,362 $ 1,212,360 The following table details the activity in the ACL on unfunded commitments during the three and six months ended June 30, 2020 and 2019: Three Months Ended Six Months Ended June 30, June 30, June 30, June 30, (In thousands) Balance, beginning of period $ 1,990 $ 306 $ 306 $ 306 Impact of CECL Adoption — — 3,702 — Adjusted balance, beginning of period 1,990 306 4,008 306 Provision for credit losses on unfunded commitments 2,622 — 604 — Balance, end of period $ 4,612 $ 306 $ 4,612 $ 306 |
Income Taxes
Income Taxes | 6 Months Ended |
Jun. 30, 2020 | |
Income Tax Disclosure [Abstract] | |
Income Tax Disclosure [Text Block] | Income TaxesThe effective tax rate was 13.2% for the three months ended June 30, 2020 compared to an effective tax rate of 16.7% for the three months ended June 30, 2019. The effective tax rate was 5.1% for the six months ended June 30, 2020 compared to an effective tax rate of 16.5% for the six months ended June 30, 2019. The decrease in the effective tax rate for both periods was primarily due a provision in the CARES Act, which permitted the Company to recognize a benefit from net operating losses related to prior acquisitions of $1.0 million during the three months ended March 31, 2020 and secondarily due to a decrease in the pre-tax income during the three and six months ended June 30, 2020, also reflective of increasing tax-exempt investments. |
Description of Business, Basi_2
Description of Business, Basis of Presentation and Significant Accounting Policies and Recently Issued Accounting Pronouncements (Policies) | 3 Months Ended | 6 Months Ended |
Jun. 30, 2020 | Jun. 30, 2020 | |
Description of Business | Description of BusinessThe Company is primarily engaged in the business of planning, directing and coordinating the business activities of its wholly-owned subsidiary, Heritage Bank. The Bank is headquartered in Olympia, Washington and conducts business from its 62 branch offices as of June 30, 2020 located throughout Washington State and the greater Portland, Oregon area. The Bank’s business consists primarily of commercial lending and deposit relationships with small businesses and their owners in its market areas and attracting deposits from the general public. The Bank also makes real estate construction and land development loans, consumer loans and originates first mortgage loans on residential properties primarily located in its market areas. The Bank's deposits are insured by the FDIC. | |
Basis of Presentation | Basis of Presentation The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with GAAP for interim financial information and pursuant to the rules and regulations of the SEC. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. It is recommended that these unaudited Condensed Consolidated Financial Statements and accompanying Notes be read with the audited Consolidated Financial Statements and the accompanying Notes included in the 2019 Annual Form 10-K. In management's opinion, all adjustments (consisting only of normal recurring adjustments) considered necessary for a fair presentation have been included. Operating results for the three and six months ended June 30, 2020 are not necessarily indicative of the results that may be expected for the year ending December 31, 2020. To prepare unaudited Condensed Consolidated Financial Statements in conformity with GAAP, management makes estimates and assumptions based on available information. These estimates and assumptions affect the amounts reported in the financial statements and the disclosures provided, and actual results could differ. Material estimates that are particularly susceptible to significant change relate to management's estimate of ACL on loans, management's evaluation of goodwill impairment and the fair value of financial instruments. It is reasonably possible that management's estimate of ACL on loans of $71.5 million at June 30, 2020, management's conclusion that the fair value of the reporting unit more likely than not exceeds its carrying value at June 30, 2020 as disclosed in Note (6) Goodwill and Other Intangible Assets and the estimates of fair value of financial instruments as disclosed in Note (13) Fair Value Measurements could materially change. Certain prior year amounts have been reclassified to conform to the current year’s presentation. Namely, loan receivable balances in the disclosures of Note (3) Loans Receivable and Note (4) Allowance for Credit Losses on Loans have been reclassified to conform to the current period presentation, which is net of deferred fees and costs. Reclassifications had no effect on the prior years' net income or stockholders’ equity. | |
Recently Issued Accounting Pronouncements | Significant Accounting Policies The significant accounting policies used in preparation of the Company's Condensed Consolidated Financial Statements are disclosed in the 2019 Annual Form 10-K. Other than the adoption of the new accounting standard discussed below, there have not been any material changes in the Company's significant accounting policies from those contained in the 2019 Annual Form 10-K. (d) Adoption of FASB ASU 2016-13 On January 1, 2020, the Company adopted FASB ASU 2016-13 Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments , as amended, which replaces the incurred loss methodology with an expected loss methodology that is referred to as the CECL methodology. The measurement of expected credit losses under the CECL methodology is applicable to financial assets measured at amortized cost, including loans receivable. It also applies to off-balance sheet credit exposures such as loan commitments, standby letters of credit, financial guarantees, and other similar instruments. In addition, the adoption of CECL made changes to the accounting for credit losses on investment securities available for sale. The Company adopted ASU 2016-13 using the modified retrospective method for all financial assets measured at amortized cost and unfunded commitments. The Company elected not to measure an ACL on accrued interest receivable on loans receivable or accrued interest receivable on investment securities available for sale as Company policy is to reverse interest income for uncollectible accrued interest receivable balances in a timely manner. Results for the reporting period beginning after January 1, 2020 are presented under ASU 2016-13, while prior period amounts were not restated and continue to be reported in accordance with previously applicable GAAP. The accounting policies for prior periods are included in the 2019 Form 10-K. FASB ASU 2016-13 , Financial Instruments: Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments , as amended by ASU 2018-19, ASU 2019-04, ASU 2019-05, ASU 2019-10, ASU 2019-11, and 2020-02, was originally issued in June 2016. This ASU requires financial assets measured at amortized cost basis to be presented at the net amount expected to be collected. For public business entities, this ASU is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years with early adoption permitted for fiscal years after December 15, 2018. The Company adopted ASU 2016-13 on January 1, 2020 as discussed in the Significant Accounting Policies section above. The adoption had the following impacts: Investment Securities As of December 31, 2019, the Company had no historical charge-off or recovery history and did not have any investment securities available for sale outstanding at the adoption date for which an other-than-temporary impairment was previously recorded. At the adoption date of ASU 2016-13, the unrealized losses present in the portfolio of investment securities available for sale were primarily due to decreases in market interest rates on floating rate investment securities since the purchase of the securities and the fair value of these securities was expected to recover as the securities approach their maturity dates. The basis of management’s conclusion was that at December 31, 2019, 83.5% of the investment securities were issued by or guaranteed by the United States government or its agencies, 14.0% were issued and guaranteed by State and local governments and the remainder of the portfolio was invested in at least investment-grade securities. As a result of the analysis, no ACL on investment securities available for sale was recorded upon adoption. See Note (2) Investment Securities for more information. Loan Receivable ASU 2016-13 was applied prospectively and replaced the allowance for loan losses with the ACL on loans on the Condensed Consolidated Statements of Financial Condition and replaced the related provision for loan losses with the provision for credit losses as presented on the Condensed Consolidated Statements of Operations, net of provision for credit losses on loans and unfunded commitments. The adoption was completed in a specific order beginning with the transition of PCI loans to PCD loans. The Bank elected to account for the PCD loans individually, terminating the pools of loans that were previously accounted for under ASC 310-30. First, an ACL was determined for each PCI loan. The ACL on PCI loans was added to the loans' carrying amount to establish a PCD loan at its amortized cost basis. The difference between the unpaid principal balance and the amortized cost basis of the PCD loan is a noncredit premium or discount, which will be amortized into interest income over the remaining life of the PCD loan. The PCI to PCD transition did not have an impact on beginning retained earnings; however, it did have the effect of reducing the existing allowance for PCI loans by $1.6 million under the CECL methodology as compared to ASC 310-30 methodology. Following the PCI to PCD transition, the Bank recorded a pretax increase to the ACL on loans of $3.4 million to increase the reserve to the estimated credit losses at January 1, 2020 based on its CECL methodology as part of the cumulative-effect adjustment to beginning retained earnings. The pretax increase to the ACL on loans of $3.4 million and the reduction in ACL on loans due to the PCI to PCD transition of $1.6 million resulted in a $1.8 million increase in the ACL on loans at January 1, 2020. Upon adoption, the adjusted beginning balance of the ACL on loans as a percentage of loans receivable was 1.01% as compared to 0.96% at December 31, 2019 under the prior incurred loss methodology. The PCI to PCD transition also resulted in a net discount of $4.3 million for PCD loans, or an increase in the net discount for PCD loans of $1.6 million. Following the transition, the total net discount for purchased loans increased to $10.0 million at January 1, 2020 compared to $8.4 million as of December 31, 2019. The Company accretes the net discount or premium on purchased loans to interest and fees on loans using the effective interest method. See Note (3) Loans Receivable and Note (4) Allowance for Credit Losses on Loans for more information. Unfunded Commitments ASU 2016-13 was applied prospectively and replaced the reserve for unfunded commitments with the ACL on unfunded commitments as included in accrued liabilities and other expenses on the Condensed Consolidated Statements of Financial Condition and replaced the provision for unfunded commitments with the provision for credit losses as presented on the Condensed Consolidated Statements of Operations, net of provision for credit losses on unfunded commitment and loans. Upon adoption, the Bank recorded a pretax increase in the beginning ACL on unfunded commitments of $3.7 million. See Note (15) Commitments and Contingencies for more information. Overall CECL Impact The adoption of ASU 2016-13, including the above mentioned increase to the ACL on loans of $3.4 million and the increase to the ACL on unfunded commitments of $3.7 million, resulted in a pretax cumulative-effect adjustment of $7.1 million. The impact of this adjustment to beginning retained earnings on January 1, 2020 was $5.6 million, net of tax. FASB ASU 2017-04 , Goodwill (Topic 350) , was issued in January 2017 and eliminates Step 2 from the goodwill impairment test. The ASU is effective for annual periods or any interim goodwill impairment tests beginning after December 15, 2019 using a prospective transition method and early adoption is permitted. The Company adopted the guidance on January 1, 2020. The adoption did not have a material impact on its Condensed Consolidated Financial Statements as of or for the six months ended June 30, 2020 as the Company's quantitative assessment indicated no goodwill impairment. FASB ASU 2018-13 , Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement, was issued in August 2018 and modifies the disclosure requirements on fair value measurements in Topic 820. The amendments in this ASU are effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. The Company adopted the guidance on January 1, 2020. The adoption did not have a material impact to Note (13) Fair Value Measurements in its Condensed Consolidated Financial Statements. FASB ASU 2020-03 , Codification Improvements to Financial Instruments was issued in March 2020 and revised a wide variety of topics in the Codification with the intent to make the Codification easier to understand and apply by eliminating inconsistencies and providing clarifications. The ASU was effective immediately upon its release and did not have a material impact on the Company's Condensed Consolidated Financial Statements as of or for the six months ended June 30, 2020. FASB ASU 2020-04 , Reference Rate Reform (Topic 848) was issued in March 2020 and provides optional expedients and exceptions for applying GAAP to loan and lease agreements, derivative contracts, and other transactions affected by the anticipated transition away from LIBOR toward new interest rate benchmarks. For transactions that are modified because of reference rate reform and that meet certain scope guidance (i) modifications of loan agreements should be accounted for by prospectively adjusting the effective interest rate and the modification will be considered "minor" so that any existing unamortized origination fees/costs would carry forward and continue to be amortized and (ii) modifications of lease agreements should be accounted for as a continuation of the existing agreement with no reassessments of the lease classification and the discount rate or remeasurements of lease payments that otherwise would be required for modifications not accounted for as separate contracts. ASU 2020-04 also provides numerous optional expedients for derivative accounting and is effective March 12, 2020 through December 31, 2022. An entity may elect to apply the ASU for contract modifications as of January 1, 2020, or prospectively from a date within an interim period that includes or is subsequent to March 12, 2020, up to the date that the financial statements are available to be issued. Once elected for a Topic or an Industry Subtopic within the Codification, the amendments in this ASU must be applied prospectively for all eligible contract modifications for that Topic or Industry Subtopic. The Company anticipates this ASU will simplify any modifications we execute between the selected start date (yet to be determined) and December 31, 2022 that are directly related to LIBOR transition by allowing prospective recognition of the continuation of the contract, rather than extinguishment of the old contract resulting in writing off unamortized fees/costs. The Company is evaluating the impacts of this ASU and have not yet determined whether LIBOR transition and this ASU will have material effects on its business operations and Condensed Consolidated Financial Statements. | |
Marketable Securities, Policy [Policy Text Block] | Investment Securities A debt security is placed on nonaccrual status at the time any principal or payments become more than 90 days delinquent. Interest accrued, but not received for a security placed on nonaccrual, is reversed against interest income during the period that the debt security is placed on nonaccrual status. | |
Loans Receivable and Loan Commitments Policy [Policy Text Block] | Loans Receivable Loans receivable include loans originated and indirect loans purchased by the Bank as well as loans acquired in business combinations. Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are reported at amortized cost. Amortized cost is the outstanding principal balance, net of purchased premiums and discounts, unearned discounts, and net deferred loan origination fees and costs. Accrued interest receivable for loans receivable is reported in prepaid expenses and other assets on the Condensed Consolidated Statements of Financial Condition. Purchased Loans: Loans acquired in a business combination are designated as “purchased” loans. Upon adoption of ASU 2016-13, the Bank's PCI loans were transitioned to PCD loans. The Bank elected to account for the PCD loans individually, terminating the pools of loans that were previously accounted for under ASC 310-30. Loans purchased after January 1, 2020 are recorded at their fair value at acquisition date net of an ACL on loans expected to be incurred over the life of the loan. The initial ACL on purchased loans is determined using the same methodology as originated loans. For non-PCD loans, the initial ACL is recorded to provision for credit losses expense. For PCD loans, the initial ACL is incorporated into the calculation of the fair value of net assets acquired on the merger date and the net of the PCD loan purchase price and the initial ACL becomes the initial amortized cost basis. The difference between the initial amortized cost basis and the par value of PCD loans is the noncredit discount or premium for PCD loans. The noncredit discount or premium for PCD loans and both the noncredit and credit discount or premium for non-PCD loans are accreted through the interest and fees on loans line item on the Condensed Consolidated Statements of Operations over the life of the loan using the effective interest method for non-revolving credits or the straight-line method, which approximates the effective interest method, for revolving credits. Any unrecognized discount or premium for a purchased loan that is subsequently repaid in full is recognized immediately into income. Subsequent changes to the ACL on loans for purchased loans are recorded through provision for credit losses expense. Troubled Debt Restructures : The CARES Act provided guidance around the modification of loans as a result of the COVID-19 pandemic, and outlined, among other criteria, that short-term modifications made on a good faith basis to borrowers who were current as defined by the CARES Act prior to any relief, are not TDRs. This includes short-term (e.g. six months) modifications such as payment deferrals, fee waivers, extensions of repayment terms, or other delays in payment that are insignificant. Borrowers are considered current under the CARES Act if they are less than 30 days past due on their contractual payments at the time a modification program is implemented. | |
Available-for-sale Securities [Member] | ||
Financing Receivable, Allowance for Credit Losses, Policy or Methodology Change [Policy Text Block] | Allowance for Credit Losses on Investment Securities Available for Sale Management evaluates the need for an ACL on investment securities available for sale on at least a quarterly basis, and more frequently when economic or market conditions warrant such an evaluation. For investment securities available for sale in an unrealized loss position, the Company first assesses whether it intends to sell, or it is more likely than not that it will be required to sell the security before the recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the security’s amortized cost basis is written down to fair value through income. For investment securities available for sale that do not meet the aforementioned criteria, the Company evaluates whether the decline in fair value has resulted from credit losses or other factors. In making this assessment, management considers the extent to which fair value is less than amortized cost, any changes to the rating of the security by a rating agency and adverse conditions specifically related to the security, among other factors. The credit loss is defined as the difference between the present value of the cash flows expected to be collected and the amortized cost basis. If the present value of cash flows expected to be collected is less than the amortized cost basis, a credit loss exists and an ACL on investment securities available for sale is recorded for the credit loss, limited by the amount that the fair value is less than the amortized cost basis. Any decline in fair value that has not been recorded through an ACL on investment securities available for sale is recognized in other comprehensive income. Changes in the ACL on investment securities available for sale are recorded as provision (reversal of provision) for credit losses expense. Losses are charged against the ACL when management believes the uncollectability of an investment security available for sale is confirmed or when either of the criteria regarding intent or requirement to sell is met. Accrued interest receivable on investment securities available for sale is excluded from the estimate of credit losses as interest accrued, but not received, is reversed timely in accordance with the policy for investment securities stated above. | |
Loans Receivable [Member] | ||
Financing Receivable, Allowance for Credit Losses, Policy or Methodology Change [Policy Text Block] | Allowance for Credit Losses on Loans The ACL on loans is a valuation account that is deducted from the amortized cost of loans receivable to present the net amount expected to be collected. Loans are charged against the ACL when management believes the uncollectibility of a loan balance is confirmed. Expected recoveries do not exceed the aggregate of amounts previously charged-off and expected to be charged off. Subsequent recoveries, if any, are credited to the ACL. The Bank records the changes in the ACL through earnings, as a provision for credit losses on the Condensed Consolidated Statements of Operations. Accrued interest receivable on loans receivable is excluded from the estimate of credit losses. Instead, interest accrued, but not received, is reversed timely in accordance with the policy for loans receivable. Management has adopted a historic loss, open pool CECL methodology to calculate the ACL on loans. The same methodology is applied to all loans consistent with the guidance of the accounting standard which does not require undue complexity. Under this methodology, the Company has identified segments of loans with similar risk characteristics that align with their identified loan classes. Nonaccrual loans are not considered similar to other loans; therefore, they are evaluated for allowance on an individual basis. The allowance for individually evaluated loans is calculated using either the collateral value method, which considers the likely source of repayment as the value of the collateral, less estimated costs to sell, or the net present value method, which considers the contractual principal and interest terms and estimated cash flows available from the borrower to satisfy the debt. A performing TDR loan is evaluated for allowance on a collective basis with loans with similar risk characteristics if a) it is classified as a risk rating of "Pass", b) it has paid a minimum of six months of principal and interest in accordance with the restructured terms, and c) it has not been over 30 days delinquent in the most recent six month period. If all three criteria on a performing TDR loan are not met, the loan is evaluated for allowance on an individual basis as it is not deemed to have similar characteristics of other loans in the portfolio. Nonaccrual TDR loans, including defaulted TDR loans, and TDR loans that do not meet the similar characteristics criteria, are evaluated for allowance on an individual basis as described above except that the original interest rate is used to discount the expected cash flows, not the rate specified in the restructuring. For each loan segment collectively measured, the baseline loss rates are calculated using the Bank's average quarterly historical loss information for an economic cycle. The Bank evaluates the historical period on a quarterly basis, with the assumption that economic cycles have historically lasted between 10 and 15 years. The baseline loss rates are applied to each loan's estimated cash flows over the life of the loan under the remaining life method to determine the baseline loss estimate for each loan. Estimated cash flows consider the principal and interest in accordance with the contractual term of the loan and estimated prepayments. Contractual cash flows are based on the amortized cost, as adjusted for balances guaranteed by governmental entities, such as SBA or USDA, or the unguaranteed amortized cost. The contractual term excludes expected extensions, renewals, and modifications unless either of the following applies: 1) management has a reasonable expectation at the reporting date that a TDR will be executed with an individual borrower or 2) the extension or renewal options are included in the original or modified contract at the reporting date and are not unconditionally cancellable by the Company. Prepayments are established for each segment based on rolling historical averages for the segments, which management believes is an accurate representation of future prepayment activity. Management reviews the adequacy of the prepayment period assumption on a quarterly basis. The CECL methodology includes consideration of the forecasted direction of the economic and business environment and its likely impact to the estimated allowance as compared to the historical losses over the reasonable and supportable time frame. Economic forecast models for the current period are uploaded to the model, which targets 16 forecasted macroeconomic factors, such as unemployment rate, GDP, housing price index, commercial real estate price index, disposable income growth, mortgage rates, and certain rate indices. Each of the forecasted segments is impacted by a mix of these macroeconomic factors. Further, each of the macroeconomic factors is utilized differently by segment, including the application of lagged factors and various transformations such as percent change year over year. The macroeconomic sensitive model is developed for each segment given the current and forecasted conditions, and a macroeconomic multiplier is calculated for each forecast period considering the forecasted losses as compared to the long-term average actual losses of the dataset. The impact of those macroeconomic factors to each segment, both positive or negative, using the reasonable and supportable period, are added to the calculated baseline loss rate. After the reasonable and supportable period, forecasted loss rates revert to historical baseline loss levels over the predetermined reversion period on a straight-lined basis. The Bank also considers other qualitative risk factors to adjust the estimated ACL calculated by the above mentioned model. The Bank will have a bias for minimal factors unless internal or external factors outside those considered in its historical losses or macroeconomic forecast indicate otherwise. The Bank will establish metrics to estimate the qualitative risk factor by segment based on the identified risk. In general, management's estimate of the ACL on loans uses relevant available information, from internal and external sources, relating to past events, current conditions, and reasonable and supportable forecasts. The ACL on loans evaluation is inherently subjective as it requires estimates that are susceptible to significant revision as more information becomes available. While management utilizes its best judgment and information available to recognize losses on loans, future additions to the allowance may be necessary based on further declines in local and national economic conditions. In addition, various regulatory agencies, as an integral part of their examination process, periodically review the Bank’s ACL on loans. Such agencies may require the Bank to make adjustments to the allowance based on their judgments about information available to them at the time of their examinations. The Company believes the ACL on loans is appropriate given all of the above considerations. | |
Unfunded Loan Commitment [Member] | ||
Financing Receivable, Allowance for Credit Losses, Policy or Methodology Change [Policy Text Block] | Allowance for Credit Losses on Unfunded Commitments The Bank estimates expected credit losses on unfunded, off-balance sheet commitments over the contractual period in which the Bank is exposed to credit risk from a contractual obligation to extend credit, unless the obligation is unconditionally cancellable by the Company. The Bank has determined that no allowance is necessary for its credit card portfolio as it has the ability to unconditionally cancel the available lines of credit. The allowance methodology for unfunded commitments is similar to the ACL on loans, but additionally includes an estimate of the future utilization of the commitment as determined by historical commitment utilizations and the Bank's estimates of future utilizations given current economic forecasts. The credit risks associated with the unfunded commitments are consistent with the risks outlined for each loan class under the ACL for loans. The ACL for unfunded commitments is recognized in accrued expenses and other liabilities on the Condensed Consolidated Statements of Financial Condition and is adjusted as a provision (reversal of provision) for credit losses on the Condensed Consolidated Statements of Operations. Provision for Credit Losses The provision for credit losses as presented in the Company's Condensed Consolidated Statements of Operations includes the provision for credit losses on loans and the provision for credit losses on unfunded commitments. |
Investment Securities (Tables)
Investment Securities (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Investments, Debt and Equity Securities [Abstract] | |
Schedule of securities available for sale | The following tables present the amortized cost and fair value of investment securities available for sale at the dates indicated and the corresponding amounts of gross unrealized gains and losses recognized in accumulated other comprehensive income (loss): June 30, 2020 Amortized Gross Gross Fair (In thousands) U.S. Treasury and U.S. Government-sponsored agencies $ 50,791 $ 1,396 $ (136) $ 52,051 Municipal securities 183,296 10,972 (337) 193,931 Mortgage-backed securities and collateralized mortgage obligations: Residential 260,944 8,286 (246) 268,984 Commercial 305,041 13,602 (302) 318,341 Corporate obligations 23,922 335 (8) 24,249 Other asset-backed securities (1) 22,845 94 (568) 22,371 Total $ 846,839 $ 34,685 $ (1,597) $ 879,927 (1) Issued and guaranteed by U.S. Government-sponsored agencies. December 31, 2019 Amortized Gross Gross Fair (In thousands) U.S. Treasury and U.S. Government-sponsored agencies $ 104,709 $ 598 $ (84) $ 105,223 Municipal securities 128,183 4,933 (102) 133,014 Mortgage-backed securities and collateralized mortgage obligations: Residential 336,929 3,184 (505) 339,608 Commercial 322,169 5,575 (649) 327,095 Corporate obligations 23,893 316 (15) 24,194 Other asset-backed securities (1) 23,277 54 (153) 23,178 Total $ 939,160 $ 14,660 $ (1,508) $ 952,312 (1) Issued and guaranteed by U.S. Government-sponsored agencies. |
Schedule of maturities of investment securities | The amortized cost and fair value of investment securities available for sale at June 30, 2020, by contractual maturity, are set forth below. Actual maturities may differ from contractual maturities because certain borrowers have the right to call or prepay obligations with or without call or prepayment penalties. Amortized Cost Fair Value (In thousands) Due in one year or less $ 47,246 $ 47,813 Due after one year through five years 146,626 151,911 Due after five years through ten years 217,935 228,844 Due after ten years 435,032 451,359 Total $ 846,839 $ 879,927 |
Schedule of fair value and unrealized losses of available for sale investment securities | The following tables show the gross unrealized losses and fair value of the Company's investment securities available for sale, for which an ACL has not been recorded, aggregated by investment category and length of time that the individual securities have been in continuous unrealized loss positions as of June 30, 2020 and December 31, 2019: June 30, 2020 Less than 12 Months 12 Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized (In thousands) U.S. Treasury and U.S. Government-sponsored agencies $ 5,865 $ (136) $ — $ — $ 5,865 $ (136) Municipal securities 10,386 (337) — — 10,386 (337) Mortgage-backed securities and collateralized mortgage obligations: Residential 2,243 (1) 27,278 (245) 29,521 (246) Commercial 5,792 (16) 21,538 (286) 27,330 (302) Corporate obligations — — 1,992 (8) 1,992 (8) Other asset-backed securities (1) 16,917 (538) 1,476 (30) 18,393 (568) Total $ 41,203 $ (1,028) $ 52,284 $ (569) $ 93,487 $ (1,597) (1) Issued and guaranteed by U.S. Government-sponsored agencies. December 31, 2019 Less than 12 Months 12 Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized (In thousands) U.S. Treasury and U.S. Government-sponsored agencies $ 45,999 $ (84) $ — $ — $ 45,999 $ (84) Municipal securities 13,761 (102) — — 13,761 (102) Mortgage-backed securities and collateralized mortgage obligations: Residential 14,272 (66) 60,232 (439) 74,504 (505) Commercial 56,263 (177) 43,623 (472) 99,886 (649) Corporate obligations 998 (2) 1,987 (13) 2,985 (15) Other asset-backed securities (1) 14,383 (127) 1,609 (26) 15,992 (153) Total $ 145,676 $ (558) $ 107,451 $ (950) $ 253,127 $ (1,508) (1) Issued and guaranteed by U.S. Government-sponsored agencies. |
Schedule of realized gains and losses on sale of securities available for sale | The following table presents the gross realized gains and losses on the sale of securities available for sale for the three and six months ended June 30, 2020 and 2019: Three Months Ended Six Months Ended 2020 2019 2020 2019 (In thousands) Gross realized gains $ 414 $ 187 $ 1,442 $ 276 Gross realized losses (5) (154) (19) (228) Net realized gains $ 409 $ 33 $ 1,423 $ 48 |
Scheduled of amortized cost and fair value of securities pledged as collateral | The following table summarizes the amortized cost and fair value of investment securities available for sale that are pledged as collateral for the following obligations at June 30, 2020 and December 31, 2019: June 30, 2020 December 31, 2019 Amortized Fair Amortized Fair (In thousands) Washington and Oregon state public deposits $ 188,233 $ 196,117 $ 187,700 $ 190,773 Securities sold under agreement to repurchase 29,323 29,765 22,156 22,294 Other securities pledged 33,583 34,697 19,333 19,850 Total $ 251,139 $ 260,579 $ 229,189 $ 232,917 |
Loans Receivable (Tables)
Loans Receivable (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Loans and Leases Receivable Disclosure [Abstract] | |
Financing Receivable Credit Quality Indicators [Table Text Block] | The amortized cost of loans receivable, net of ACL at June 30, 2020 and December 31, 2019 consisted of the following portfolio segments and classes: June 30, December 31, (In thousands) Commercial business: Commercial and industrial $ 793,217 $ 852,220 SBA PPP 856,490 — Owner-occupied commercial real estate 838,303 805,234 Non-owner occupied commercial real estate 1,351,775 1,288,779 Total commercial business 3,839,785 2,946,233 One-to-four family residential 132,546 131,660 Real estate construction and land development: One-to-four family residential 108,821 104,296 Five or more family residential and commercial properties 197,163 170,350 Total real estate construction and land development 305,984 274,646 Consumer 388,018 415,340 Loans receivable 4,666,333 3,767,879 Allowance for credit losses on loans (71,501) (36,171) Loans receivable, net $ 4,594,832 $ 3,731,708 The following table presents the amortized cost of loans receivable by risk grade as of June 30, 2020: Term Loans 2020 2019 2018 2017 2016 Prior Revolving Loans Revolving Loans Converted to Term Loans (1) Loans Receivable (In thousands) Commercial business: Commercial and industrial Pass $ 60,290 $ 152,475 $ 86,904 $ 59,048 $ 49,096 $ 123,041 $ 176,396 $ 3,654 $ 710,904 SM 2,071 3,232 3,128 1,268 1,876 1,872 14,830 42 28,319 SS 1,859 11,198 4,555 8,278 2,286 12,732 9,227 3,859 53,994 Total 64,220 166,905 94,587 68,594 53,258 137,645 200,453 7,555 793,217 SBA PPP Pass 856,490 — — — — — — — 856,490 Owner-occupied CRE Pass 46,237 157,457 105,974 89,912 84,671 306,133 — 1,051 791,435 SM — — — 9,836 1,461 12,691 — — 23,988 SS — — 117 4,686 3,380 14,697 — — 22,880 Total 46,237 157,457 106,091 104,434 89,512 333,521 — 1,051 838,303 Non-owner-occupied CRE Pass 93,518 163,318 151,550 193,928 284,553 449,656 — — 1,336,523 SM — — — — 6,214 1,939 — — 8,153 SS — — 65 — — 7,034 — — 7,099 Total 93,518 163,318 151,615 193,928 290,767 458,629 — — 1,351,775 Total commercial business Pass 1,056,535 473,250 344,428 342,888 418,320 878,830 176,396 4,705 3,695,352 SM 2,071 3,232 3,128 11,104 9,551 16,502 14,830 42 60,460 SS 1,859 11,198 4,737 12,964 5,666 34,463 9,227 3,859 83,973 Total 1,060,465 487,680 352,293 366,956 433,537 929,795 200,453 8,606 3,839,785 One-to-four family residential Pass 19,960 42,790 19,958 15,334 9,304 24,507 — — 131,853 SS — — — 61 124 508 — — 693 Total 19,960 42,790 19,958 15,395 9,428 25,015 — — 132,546 Real estate construction and land development: One-to-four family residential Pass 17,955 75,844 8,366 2,229 971 1,705 — — 107,070 SS — — — 1,751 — — — — 1,751 Total 17,955 75,844 8,366 3,980 971 1,705 — — 108,821 Five or more family residential and commercial properties Pass 16,898 107,857 61,589 6,993 797 2,536 — — 196,670 SM — — — — — 38 — — 38 SS — — — — — 455 — — 455 Total 16,898 107,857 61,589 6,993 797 3,029 — — 197,163 Total real estate and land development Pass 34,853 183,701 69,955 9,222 1,768 4,241 — — 303,740 SM — — — — — 38 — — 38 SS — — — 1,751 — 455 — — 2,206 Total 34,853 183,701 69,955 10,973 1,768 4,734 — — 305,984 Term Loans 2020 2019 2018 2017 2016 Prior Revolving Loans Revolving Loans Converted to Term Loans (1) Loans Receivable (In thousands) Consumer Pass 36,752 95,262 67,245 40,617 19,622 30,448 94,162 230 384,338 SS 20 257 486 492 471 1,520 430 4 3,680 Total 36,772 95,519 67,731 41,109 20,093 31,968 94,592 234 388,018 Loans receivable Pass 1,148,100 795,003 501,586 408,061 449,014 938,026 270,558 4,935 4,515,283 SM 2,071 3,232 3,128 11,104 9,551 16,540 14,830 42 60,498 SS 1,879 11,455 5,223 15,268 6,261 36,946 9,657 3,863 90,552 Total $ 1,152,050 $ 809,690 $ 509,937 $ 434,433 $ 464,826 $ 991,512 $ 295,045 $ 8,840 $ 4,666,333 (1) Represents loans receivable balance at June 30, 2020 which was converted from a revolving loan to an amortizing loan during the six months ended June 30, 2020. The following table presents the amortized cost of loans receivable by credit quality indicator as of December 31, 2019 in accordance with disclosure requirements prior to CECL Adoption: December 31, 2019 Pass Special Mention Substandard Doubtful/Loss Total (In thousands) Commercial business: Commercial and industrial $ 771,559 $ 16,340 $ 64,321 $ — $ 852,220 Owner-occupied CRE 765,411 24,659 15,164 — 805,234 Non-owner occupied CRE 1,274,513 5,662 8,604 — 1,288,779 Total commercial business 2,811,483 46,661 88,089 — 2,946,233 One-to-four family residential 130,818 — 842 — 131,660 Real estate construction and land development: One-to-four family residential 101,973 1,516 807 — 104,296 Five or more family residential and commercial properties 169,668 682 — — 170,350 Total real estate construction and land development 271,641 2,198 807 — 274,646 Consumer 411,141 — 3,675 524 415,340 Loans receivable $ 3,625,083 $ 48,859 $ 93,413 $ 524 $ 3,767,879 |
Schedule of nonaccrual loans | The following table presents the amortized cost of nonaccrual loans for the dates indicated: June 30, 2020 December 31, Nonaccrual with No ACL Nonaccrual with ACL Total Nonaccrual (1) Nonaccrual (2) (In thousands) Commercial business: Commercial and industrial $ 23,359 $ 2,458 $ 25,817 $ 33,544 Owner-occupied CRE 3,042 724 3,766 4,714 Non-owner occupied CRE 3,799 — 3,799 6,062 Total commercial business 30,200 3,182 33,382 44,320 One-to-four family residential 16 144 160 19 Consumer — 86 86 186 Total $ 30,216 $ 3,412 $ 33,628 $ 44,525 (1) Includes $429,000 of PCI loans which were converted to PCD loans and classified as nonaccrual on January 1, 2020 as part of CECL Adoption. (2) Presentation of December 31, 2019 balances is in accordance with disclosure requirements prior to CECL Adoption. The following table presents the reversal of interest income on loans due to the write-off of accrued interest receivable upon the initial classification of loans as nonaccrual loans and the interest income recognized due to payment in full of previously classified nonaccrual loans during the following period: Three Months Ended Three Months Ended Interest Income Reversed Interest Income Recognized Interest Income Reversed Interest Income Recognized (In thousands) Commercial business: Commercial and industrial $ — $ 89 $ (35) $ 11 Owner-occupied CRE — 14 (1) 39 Non-owner occupied CRE — 22 — — Total commercial business — 125 (36) 50 Real estate construction and land development: One-to-four family residential — — — 23 Consumer — 37 — — Total $ — $ 162 $ (36) $ 73 Six Months Ended Six months ended Interest Income Reversed Interest Income Recognized Interest Income Reversed Interest Income Recognized (in thousands) Commercial business: Commercial and industrial $ (16) $ 308 $ (56) $ 60 Owner-occupied CRE — 60 — 46 Non-owner occupied CRE — 67 (34) — Total commercial business (16) 435 (90) 106 Real estate construction and land development: One-to-four family residential — — (3) 23 Consumer — 47 — 6 Total $ (16) $ 482 $ (93) $ 135 |
Financing Receivable, Past Due [Table Text Block] | The amortized cost of past due loans as of June 30, 2020 were as follows: June 30, 2020 30-89 Days 90 Days or Total Past Current Loan Receivable (In thousands) Commercial business: Commercial and industrial $ 4,273 $ 5,300 $ 9,573 $ 783,644 $ 793,217 SBA PPP — — — 856,490 856,490 Owner-occupied CRE 46 441 487 837,816 838,303 Non-owner occupied CRE — 111 111 1,351,664 1,351,775 Total commercial business 4,319 5,852 10,171 3,829,614 3,839,785 One-to-four family residential 140 — 140 132,406 132,546 Real estate construction and land development: One-to-four family residential — — — 108,821 108,821 Five or more family residential and commercial properties — — — 197,163 197,163 Total real estate construction and land development — — — 305,984 305,984 Consumer 687 4 691 387,327 388,018 Total $ 5,146 $ 5,856 $ 11,002 $ 4,655,331 $ 4,666,333 The following table presents the amortized cost of past due loans as of December 31, 2019 in accordance with disclosure requirements prior to CECL Adoption: December 31, 2019 30-89 Days 90 Days or Total Past Current Total PCI Loans Loan Receivable (In thousands) Commercial business: Commercial and industrial $ 10,479 $ 6,772 $ 17,251 $ 832,601 $ 849,852 $ 2,368 $ 852,220 Owner-occupied CRE 607 806 1,413 798,907 800,320 4,914 805,234 Non-owner occupied CRE 554 1,843 2,397 1,280,891 1,283,288 5,491 1,288,779 Total commercial business 11,640 9,421 21,061 2,912,399 2,933,460 12,773 2,946,233 One-to-four family residential 797 — 797 127,288 128,085 3,575 131,660 Real estate construction and land development: One-to-four family residential 1,516 — 1,516 102,780 104,296 — 104,296 Five or more family residential and commercial properties — — — 170,350 170,350 — 170,350 Total real estate construction and land development 1,516 — 1,516 273,130 274,646 — 274,646 Consumer 2,071 — 2,071 411,507 413,578 1,762 415,340 Total $ 16,024 $ 9,421 $ 25,445 $ 3,724,324 $ 3,749,769 $ 18,110 $ 3,767,879 |
Loans and Lease Receivable Collateral for Secured Borrowings [Table Text Block] | The types of collateral securing individually evaluated loans for ACL on loans, and for which the repayment was expected to be provided substantially through the operation or sale of the collateral as of June 30, 2020, were as follows: Loans receivable (1) at June 30, 2020 CRE Farmland Single Family Residence Equipment or Accounts Receivable Total (In thousands) Commercial business: Commercial and industrial $ 2,013 $ 19,617 $ 1,394 $ 1,788 $ 24,812 Owner-occupied CRE 3,042 — — — 3,042 Non-owner occupied CRE 5,215 — — — 5,215 Total commercial business 10,270 19,617 1,394 1,788 33,069 One-to-four family residential — — 16 — 16 Real estate construction and land development: One-to-four family residential — — 1,751 — 1,751 Total $ 10,270 $ 19,617 $ 3,161 $ 1,788 $ 34,836 (1) Balances represent the amortized cost of loans receivable at date indicated. If multiple collateral secured the loan, the entire loan receivable balance is presented in the primary collateral category, which generally represents the majority of the collateral balance. |
Impaired Financing Receivables [Table Text Block] | Impaired loans include nonaccrual loans, performing TDR loans, and other loans with a specific valuation allowance, excluding PCI loans. The amortized cost of impaired loans as of December 31, 2019 are set forth in the following table: December 31, 2019 Amortized Cost With Amortized Cost With Total Unpaid Related (In thousands) Commercial business: Commercial and industrial $ 30,179 $ 13,629 $ 43,808 $ 45,585 $ 1,372 Owner-occupied CRE 3,921 2,415 6,336 6,764 426 Non-owner occupied CRE 5,309 1,015 6,324 6,458 146 Total commercial business 39,409 17,059 56,468 58,807 1,944 One-to-four family residential — 215 215 223 56 Real estate construction and land development: One-to-four family residential 237 — 237 237 — Consumer — 561 561 570 143 Total $ 39,646 $ 17,835 $ 57,481 $ 59,837 $ 2,143 The average amortized cost of impaired loans for the three and six months ended June 30, 2019 are set forth in the following table: Three Months Ended Six Months Ended (In thousands) Commercial business: Commercial and industrial $ 25,215 $ 24,422 Owner-occupied CRE 6,178 6,058 Non-owner occupied CRE 8,221 7,506 Total commercial business 39,614 37,986 One-to-four family residential 248 259 Real estate construction and land development: One-to-four family residential 858 872 Consumer 613 584 Total $ 41,333 $ 39,701 |
Recorded investment balance and related allowance for loan losses of accruing and non-accruing TDRs | The amortized cost and related ACL on loans of performing and nonaccrual TDR loans as of June 30, 2020 and December 31, 2019 were as follows: June 30, 2020 December 31, 2019 Performing Nonaccrual Performing Nonaccrual (In thousands) TDR loans $ 20,687 $ 20,907 $ 14,469 $ 26,338 ACL on TDR loans 1,624 371 1,259 218 |
Loans Receivable | Loans that were modified as TDR loans during the three and six months ended June 30, 2020 and 2019 are set forth in the following tables: Three months ended June 30, 2020 2019 Number of Amortized Cost (1) Number of Amortized Cost (1) (Dollars in thousands) Commercial business: Commercial and industrial 31 $ 11,849 14 $ 8,626 Owner-occupied CRE 4 1,657 1 710 Non-owner occupied CRE 2 398 2 3,554 Total commercial business 37 13,904 17 12,890 Real estate construction and land development: One-to-four family residential 4 1,751 — — Consumer 9 82 3 53 Total 50 $ 15,737 20 $ 12,943 Six Months Ended June 30, 2020 2019 Number of Contracts (2) Amortized Cost (1) (2) Number of Contracts (2) Amortized Cost (1) (2) (Dollars in thousands) Commercial business: Commercial and industrial 36 $ 13,893 20 $ 18,061 Owner-occupied CRE 6 3,067 3 1,628 Non-owner occupied CRE 3 2,143 3 5,642 Total commercial business 45 19,103 26 25,331 Real estate construction and land development: One-to-four family residential 4 1,751 1 560 Consumer 14 173 8 166 Total TDR loans 63 $ 21,027 35 $ 26,057 (1) Includes subsequent payments after modifications and reflects the balance as of period end. As the Bank did not forgive any principal or interest balance as part of the loan modifications, the Bank’s amortized cost in each loan at the date of modification (pre-modification) did not change as a result of the modification (post-modification). (2) Number of contracts and outstanding principal balance represent loans which have balances as of period end as certain loans may have been paid-down or charged-off during the six months ended June 30, 2020 and 2019. |
Troubled debt restructuring loans, subsequently defaulted | Loans that were modified during the previous twelve months that subsequently defaulted during the three and six months ended June 30, 2020 and 2019 are set forth in the following tables: Three months ended June 30, 2020 2019 Number of Amortized Cost Number of Amortized Cost (Dollars in thousands) Commercial business: Commercial and industrial 2 $ 302 6 $ 1,278 Owner-occupied CRE 1 445 1 399 Non-owner occupied CRE 1 280 — — Total commercial business 4 $ 1,027 7 $ 1,677 Real estate construction and land development: One-to-four family residential — — 1 560 Total 4 $ 1,027 8 $ 2,237 Six Months Ended June 30, 2020 2019 Number of Contracts (1) Amortized Cost (1) Number of Contracts (1) Amortized Cost (1) (Dollars in thousands) Commercial business: Commercial and industrial 4 $ 2,155 6 $ 1,278 Owner-occupied CRE 1 445 2 1,109 Non-owner occupied CRE 2 398 1 586 Total commercial business 7 2,998 9 2,973 Real estate construction and land development: One-to-four family residential — — 1 560 Total 7 $ 2,998 10 $ 3,533 |
Purchased impaired loans | The following table reflects the outstanding principal balance and recorded investment of PCI loans at December 31, 2019: December 31, 2019 Outstanding Principal Recorded Investment (In thousands) Commercial business: Commercial and industrial $ 4,439 $ 2,368 Owner-occupied CRE 4,925 4,914 Non-owner occupied CRE 7,028 5,491 Total commercial business 16,392 12,773 One-to-four family residential 3,095 3,575 Consumer 1,463 1,762 Gross PCI loans $ 20,950 $ 18,110 |
Schedule of Impaired Purchased Loans Accretable Yield [Table Text Block] | The following table summarizes the accretable yield on the PCI loans for the three and six months ended June 30, 2019: Three Months Ended Six Months Ended (In thousands) Balance at the beginning of the period $ 8,460 $ 9,493 Accretion (513) (1,094) Disposal and other (198) (650) Reclassification from nonaccretable difference 823 823 Balance at the end of the period $ 8,572 $ 8,572 |
Troubled debt restructurings on financing receivables | Loans that were modified as TDR loans during the three and six months ended June 30, 2020 and 2019 are set forth in the following tables: Three months ended June 30, 2020 2019 Number of Amortized Cost (1) Number of Amortized Cost (1) (Dollars in thousands) Commercial business: Commercial and industrial 31 $ 11,849 14 $ 8,626 Owner-occupied CRE 4 1,657 1 710 Non-owner occupied CRE 2 398 2 3,554 Total commercial business 37 13,904 17 12,890 Real estate construction and land development: One-to-four family residential 4 1,751 — — Consumer 9 82 3 53 Total 50 $ 15,737 20 $ 12,943 Six Months Ended June 30, 2020 2019 Number of Contracts (2) Amortized Cost (1) (2) Number of Contracts (2) Amortized Cost (1) (2) (Dollars in thousands) Commercial business: Commercial and industrial 36 $ 13,893 20 $ 18,061 Owner-occupied CRE 6 3,067 3 1,628 Non-owner occupied CRE 3 2,143 3 5,642 Total commercial business 45 19,103 26 25,331 Real estate construction and land development: One-to-four family residential 4 1,751 1 560 Consumer 14 173 8 166 Total TDR loans 63 $ 21,027 35 $ 26,057 (1) Includes subsequent payments after modifications and reflects the balance as of period end. As the Bank did not forgive any principal or interest balance as part of the loan modifications, the Bank’s amortized cost in each loan at the date of modification (pre-modification) did not change as a result of the modification (post-modification). (2) Number of contracts and outstanding principal balance represent loans which have balances as of period end as certain loans may have been paid-down or charged-off during the six months ended June 30, 2020 and 2019. |
Allowance for Loan Losses (Tabl
Allowance for Loan Losses (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Receivables [Abstract] | |
Schedule of changes in allowance for loan losses | The following tables detail the activity in the ACL on loans disaggregated by segment and class for the three and six months ended June 30, 2020: Three Months Ended June 30, 2020 Beginning Balance Charge-offs Recoveries Provision for Credit Losses Ending Balance (In thousands) Commercial business: Commercial and industrial $ 13,900 $ (1,824) $ 69 $ 17,628 $ 29,773 SBA PPP — — — — — Owner-occupied CRE 6,216 — 2 3,785 10,003 Non-owner occupied CRE 7,750 — — 2,916 10,666 Total commercial business 27,866 (1,824) 71 24,329 50,442 One-to-four family residential 3,026 — — (803) 2,223 Real estate construction and land development: One-to-four family residential 864 — 7 (304) 567 Five or more family residential and commercial properties 11,444 — — (2,887) 8,557 Total real estate construction and land development 12,308 — 7 (3,191) 9,124 Consumer 4,340 (431) 197 5,606 9,712 Total $ 47,540 $ (2,255) $ 275 $ 25,941 $ 71,501 Six Months Ended June 30, 2020 Balance at Beginning Impact of CECL Adoption Beginning Balance, as Adjusted Charge-offs Recoveries Provision for Credit Losses Ending Balance (In thousands) Commercial business: Commercial and industrial $ 11,739 $ (1,348) $ 10,391 $ (2,911) $ 1,126 $ 21,167 $ 29,773 SBA PPP — — — — — — — Owner-occupied CRE 4,512 452 4,964 (135) 14 5,160 10,003 Non-owner occupied CRE 7,682 (2,039) 5,643 — — 5,023 10,666 Total commercial business 23,933 (2,935) 20,998 (3,046) 1,140 31,350 50,442 One-to-four family residential 1,458 1,471 2,929 — 3 (709) 2,223 Real estate construction and land development: One-to-four family residential 1,455 (571) 884 — 21 (338) 567 Five or more family residential and commercial properties 1,605 7,240 8,845 — — (288) 8,557 Total real estate construction and land development 3,060 6,669 9,729 — 21 (626) 9,124 Consumer 6,821 (2,484) 4,337 (806) 291 5,890 9,712 Unallocated 899 (899) — — — Total $ 36,171 $ 1,822 $ 37,993 $ (3,852) $ 1,455 $ 35,905 $ 71,501 The following tables detail activity in the allowance for loan losses disaggregated by segment and class for the three and six months ended June 30, 2019 under the incurred loss methodology, including the ASC 310-30 methodology for PCI loans: Three Months Ended June 30, 2019 Beginning Balance Charge-offs Recoveries Provision for Loan Losses Ending Balance (In thousands) Commercial business: Commercial and industrial $ 11,755 $ (774) $ 62 $ 950 $ 11,993 Owner-occupied CRE 5,256 — — (190) 5,066 Non-owner occupied CRE 7,825 — — 239 8,064 Total commercial business 24,836 (774) 62 999 25,123 One-to-four family residential 1,247 (15) — 113 1,345 Real estate construction and land development: One-to-four family residential 1,422 — 7 42 1,471 Five or more family residential and commercial properties 995 — — 65 1,060 Total real estate construction and land development 2,417 — 7 107 2,531 Consumer 6,480 (566) 130 496 6,540 Unallocated 1,172 — — (348) 824 Total $ 36,152 $ (1,355) $ 199 $ 1,367 $ 36,363 Six Months Ended June 30, 2019 Beginning Balance Charge-offs Recoveries Provision for Loan Losses Ending Balance (In thousands) Commercial business: Commercial and industrial $ 11,343 $ (877) $ 69 $ 1,458 $ 11,993 Owner-occupied CRE 4,898 — 3 165 5,066 Non-owner occupied CRE 7,470 — 149 445 8,064 Total commercial business 23,711 (877) 221 2,068 25,123 One-to-four family residential 1,203 (30) — 172 1,345 Real estate construction and land development: One-to-four family residential 1,240 — 625 (394) 1,471 Five or more family residential and commercial properties 954 — — 106 1,060 Total real estate construction and land development 2,194 — 625 (288) 2,531 Consumer 6,581 (1,152) 247 864 6,540 Unallocated 1,353 — — (529) 824 Total $ 35,042 $ (2,059) $ 1,093 $ 2,287 $ 36,363 The following table details the allowance for loan losses disaggregated on the basis of the Company's impairment method as of December 31, 2019 under the incurred loss methodology, including the ASC 310-30 methodology for PCI loans: Loans Individually Evaluated for Impairment Loans Collectively Evaluated for Impairment PCI Loans Total Allowance for Loan Losses (In thousands) Commercial business: Commercial and industrial $ 1,372 $ 9,772 $ 595 $ 11,739 Owner-occupied CRE 426 3,558 528 4,512 Non-owner occupied CRE 146 7,064 472 7,682 Total commercial business 1,944 20,394 1,595 23,933 One-to-four family residential 56 1,316 86 1,458 Real estate construction and land development: One-to-four family residential — 1,296 159 1,455 Five or more family residential and commercial properties — 1,527 78 1,605 Total real estate construction and land development — 2,823 237 3,060 Consumer 143 6,327 351 6,821 Unallocated — 899 — 899 Total $ 2,143 $ 31,759 $ 2,269 $ 36,171 |
Schedule of loan receivables on the basis of impairment method | The following table details the amortized cost of the loan receivables disaggregated on the basis of the Company’s impairment method as of December 31, 2019 under the incurred loss methodology, including the ASC 310-30 methodology for PCI loans: Loans Individually Evaluated for Impairment Loans Collectively Evaluated for Impairment PCI Loans Loans Receivable (In thousands) Commercial business: Commercial and industrial $ 43,808 $ 806,044 $ 2,368 $ 852,220 Owner-occupied CRE 6,336 793,984 4,914 805,234 Non-owner occupied CRE 6,324 1,276,964 5,491 1,288,779 Total commercial business 56,468 2,876,992 12,773 2,946,233 One-to-four family residential 215 127,870 3,575 131,660 Real estate construction and land development: One-to-four family residential 237 104,059 — 104,296 Five or more family residential and commercial properties — 170,350 — 170,350 Total real estate construction and land development 237 274,409 — 274,646 Consumer 561 413,017 1,762 415,340 Total $ 57,481 $ 3,692,288 $ 18,110 $ 3,767,879 |
Schedule of Impaired Purchased Loans Accretable Yield [Table Text Block] | The following table summarizes the accretable yield on the PCI loans for the three and six months ended June 30, 2019: Three Months Ended Six Months Ended (In thousands) Balance at the beginning of the period $ 8,460 $ 9,493 Accretion (513) (1,094) Disposal and other (198) (650) Reclassification from nonaccretable difference 823 823 Balance at the end of the period $ 8,572 $ 8,572 |
Other Real Estate Owned (Tables
Other Real Estate Owned (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Real Estate [Abstract] | |
Changes in other real estate owned | Changes in other real estate owned during the three and six months ended June 30, 2020 and 2019 were as follows: Three Months Ended Six Months Ended 2020 2019 2020 2019 (In thousands) Balance at the beginning of the period $ 841 $ 1,904 $ 841 $ 1,983 Additions — — 270 — Proceeds from dispositions (1,024) (350) (1,290) (429) Gain (loss) on sales, net 183 (279) 179 (279) Valuation adjustment — (51) — (51) Balance at the end of the period $ — $ 1,224 $ — $ 1,224 |
Goodwill and Other Intangible_2
Goodwill and Other Intangible Assets (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Change in other intangible assets | The following table presents the change in other intangible assets for the periods indicated: Three Months Ended Six Months Ended 2020 2019 2020 2019 (In thousands) Balance at the beginning of the period $ 15,710 $ 19,589 $ 16,613 $ 20,614 Amortization (903) (1,026) (1,806) (2,051) Balance at the end of the period $ 14,807 $ 18,563 $ 14,807 $ 18,563 |
Junior Subordinated Debentures
Junior Subordinated Debentures (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Debt Disclosure [Abstract] | |
Schedule of weighted average rate of junior subordinated debentures | The following table presents the weighted average rate of the junior subordinated debentures for the periods indicated: Three Months Ended Six Months Ended 2020 2019 2020 2019 Weighted average rate (1) 4.24 % 6.68 % 4.90 % 6.87 % (1) The weighted average rate includes the accretion of the discount established at the merger date which is amortized over the life of the trust preferred securities. |
Securities Sold Under Agreeme_2
Securities Sold Under Agreement to Repurchase (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Disclosure of Repurchase Agreements [Abstract] | |
Repurchase agreement obligations by class of collateral pledged | The following table presents the Company's securities sold under agreement to repurchase obligations by class of collateral pledged at the dates indicated: June 30, December 31, (In thousands) Mortgage-backed securities and collateralized mortgage obligations: Residential $ 862 $ 8,452 Commercial 23,582 11,717 Securities sold under agreement to repurchase $ 24,444 $ 20,169 |
Other Borrowings (Tables)
Other Borrowings (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Debt Disclosure [Abstract] | |
Schedule of FHLB advances | The following table sets forth the details of FHLB advances during the three and six months ended June 30, 2020 and 2019: Three Months Ended Six Months Ended 2020 2019 2020 2019 (In thousands) Average balance during the period $ 4,909 $ 42,101 $ 2,949 $ 22,086 Maximum month-end balance during the period $ — $ 90,700 $ — $ 90,700 Weighted average rate during the period 0.57 % 2.65 % 0.55 % 2.68 % |
Derivative Financial Instrume_2
Derivative Financial Instruments (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Schedule of notional amounts and estimated fair values of interest rate derivative contracts | The following table presents the notional amounts and estimated fair values of interest rate derivative contracts outstanding at June 30, 2020 and December 31, 2019: June 30, 2020 December 31, 2019 Notional Amounts Estimated Fair Value Notional Amounts Estimated Fair Value (In thousands) Non-hedging interest rate derivatives Interest rate swap asset (1) $ 271,348 $ 31,618 $ 221,436 $ 8,318 Interest rate swap liability (1) 271,348 (31,618) 221,436 (8,318) (1) The estimated fair value of derivatives with customers was $31.6 million and $8.1 million as of June 30, 2020 and December 31, 2019, respectively. The estimated fair value of derivatives with third parties was $(31.6) million and $(8.1) million as of June 30, 2020 and December 31, 2019, respectively. |
Stockholders' Equity (Tables)
Stockholders' Equity (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Stockholders' Equity Note [Abstract] | |
Schedule of earnings per share reconciliation | The following table illustrates the reconciliation of weighted average shares used for earnings per common share computations for the three and six months ended June 30, 2020 and 2019: Three Months Ended Six Months Ended 2020 2019 2020 2019 (In thousands) Net (loss) income: Net (loss) income $ (6,139) $ 15,984 $ 6,052 $ 32,536 Dividends and undistributed earnings allocated to participating securities (1) — (11) (3) (38) Net (loss) income allocated to common shareholders $ (6,139) $ 15,973 $ 6,049 $ 32,498 Basic: Weighted average common shares outstanding 35,899,361 36,895,625 36,128,586 36,888,601 Restricted stock awards (645) (25,466) (8,183) (40,632) Total basic weighted average common shares outstanding 35,898,716 36,870,159 36,120,403 36,847,969 Diluted: Basic weighted average common shares outstanding 35,898,716 36,870,159 36,120,403 36,847,969 Effect of potentially dilutive common shares (2) — 144,714 154,988 163,767 Total diluted weighted average common shares outstanding 35,898,716 37,014,873 36,275,391 37,011,736 (1) Represents dividends paid and undistributed earnings allocated to unvested restricted stock awards. (2) Represents the effect of the assumed exercise of stock options and vesting of restricted stock awards and units. |
Schedule of dividends activity | The following table summarizes the dividend activity for the six months ended June 30, 2020 and calendar year 2019: Declared Cash Dividend per Share Record Date Paid Date January 23, 2019 $0.18 February 7, 2019 February 21, 2019 April 24, 2019 $0.18 May 8, 2019 May 22, 2019 July 24, 2019 $0.19 August 8, 2019 August 22, 2019 October 23, 2019 $0.19 November 7, 2019 November 21, 2019 October 23, 2019 $0.10 November 7, 2019 November 21, 2019 * January 22, 2020 $0.20 February 6, 2020 February 20, 2020 April 29, 2020 $0.20 May 13, 2020 May 27, 2020 * Denotes a special dividend. |
Schedule of repurchased shares | The following table provides total shares repurchased to pay withholding taxes during the periods indicated: Three Months Ended Six Months Ended 2020 2019 2020 2019 Repurchased shares to pay withholding taxes 2,046 2,175 27,928 28,029 Stock repurchase to pay withholding taxes average share price $ 18.62 $ 29.31 $ 21.56 $ 30.88 |
Accumulated Other Comprehensi_2
Accumulated Other Comprehensive Income (Loss) (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Equity [Abstract] | |
Changes in accumulated other comprehensive (loss) income (AOCI) by component | The changes in AOCI, all of which are due to changes in the fair value of available for sale securities and are net of tax, during the three and six months ended June 30, 2020 and 2019 are as follows: Three Months Ended Six Months Ended 2020 2019 2020 2019 (In thousands) Balance of AOCI at the beginning of period $ 18,292 $ 561 $ 10,378 $ (7,455) Other comprehensive income before reclassification 8,009 9,219 16,716 17,247 Amounts reclassified from AOCI for gain on sale of investment securities included in net (loss) income (320) (26) (1,113) (38) Net current period other comprehensive income 7,689 9,193 15,603 17,209 Balance of AOCI at the end of period $ 25,981 $ 9,754 $ 25,981 $ 9,754 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Fair Value Disclosures [Abstract] | |
Fair value measurements of assets on a recurring basis | The following tables summarize the balances of assets and liabilities measured at fair value on a recurring basis as of June 30, 2020 and December 31, 2019: June 30, 2020 Total Level 1 Level 2 Level 3 (In thousands) Assets Investment securities available for sale: U.S. Treasury and U.S. Government-sponsored agencies $ 52,051 $ — $ 52,051 $ — Municipal securities 193,931 — 193,931 — Mortgage-backed securities and collateralized mortgage obligations: Residential 268,984 — 268,984 — Commercial 318,341 — 318,341 — Corporate obligations 24,249 — 24,249 — Other asset-backed securities 22,371 — 22,371 — Total investment securities available for sale 879,927 — 879,927 — Equity security 112 112 — — Derivative assets - interest rate swaps 31,618 — 31,618 — Liabilities Derivative liabilities - interest rate swaps $ 31,618 $ — $ 31,618 $ — December 31, 2019 Total Level 1 Level 2 Level 3 (In thousands) Assets Investment securities available for sale: U.S. Treasury and U.S. Government-sponsored agencies $ 105,223 $ — $ 105,223 $ — Municipal securities 133,014 — 133,014 — Mortgage-backed securities and collateralized mortgage obligations: Residential 339,608 — 339,608 — Commercial 327,095 — 327,095 — Corporate obligations 24,194 — 24,194 — Other asset-backed securities 23,178 — 23,178 — Total investment securities available for sale 952,312 — 952,312 — Equity Security 148 148 — — Derivative assets - interest rate swaps 8,318 — 8,318 — Liabilities Derivative liabilities - interest rate swaps $ 8,318 $ — $ 8,318 $ — |
Fair value measurements of assets on a nonrecurring basis | The following tables below represent assets measured at fair value on a nonrecurring basis at June 30, 2020 and December 31, 2019 and the net losses recorded in earnings during three and six months ended June 30, 2020 and 2019: Basis (1) Fair Value at June 30, 2020 Total Level 1 Level 2 Level 3 Net Gains Net Gains (In thousands) Collateral-dependent loans: Commercial business: Commercial and industrial $ 293 $ 270 $ — $ — $ 270 $ 9 $ 3 Total assets measured at fair value on a nonrecurring basis $ 293 $ 270 $ — $ — $ 270 $ 9 $ 3 (1) Basis represents the unpaid principal balance of impaired loans. Excludes loans whose fair value was determined to be $0. Basis (1) Fair Value at December 31, 2019 Total Level 1 Level 2 Level 3 Net Gains Recorded in Earnings During the Three Months EndedJune 30, 2019 Net Gains Recorded in Earnings During the Six Months EndedJune 30, 2019 (In thousands) Impaired loans: Commercial business: Commercial and industrial $ 4,111 $ 3,380 $ — $ — $ 3,380 $ 1 $ 1 Total assets measured at fair value on a nonrecurring basis $ 4,111 $ 3,380 $ — $ — $ 3,380 $ 1 $ 1 (1) Basis represents the unpaid principal balance of impaired loans. |
Fair value measurements for financial instruments measured at fair value on a non-recurring basis | The following tables present quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis at June 30, 2020 and December 31, 2019: June 30, 2020 Fair Valuation Unobservable Input(s) Range of Inputs; Weighted (Dollars in thousands) Collateral-dependent loans $ 270 Market approach Adjustment for differences between the comparable sales N/A (1) (1) Quantitative disclosures are not provided for collateral-dependent loans because there were no adjustments made to the appraisal or stated values during the current period. December 31, 2019 Fair Valuation Unobservable Input(s) Range of Inputs; Weighted (Dollars in thousands) Impaired loans $ 3,380 Market approach Adjustment for differences between the comparable sales 173.5% - (18.5%); 36.8% |
Schedule of carrying value and fair value of financial instruments | The following tables present the carrying value amount of the Company’s financial instruments and their corresponding estimated fair values at June 30, 2020 and December 31, 2019: June 30, 2020 Carrying Value Fair Value Fair Value Measurements Using: Level 1 Level 2 Level 3 (In thousands) Financial Assets: Cash and cash equivalents $ 415,075 $ 415,075 $ 415,075 $ — $ — Investment securities available for sale 879,927 879,927 — 879,927 — Loans held for sale 3,783 3,908 — — 3,908 Loans receivable, net 4,594,832 4,762,913 — — 4,762,913 Accrued interest receivable 17,813 17,813 10 3,887 13,916 Derivative assets - interest rate swaps 31,618 31,618 — 31,618 — Equity security 112 112 112 — — Financial Liabilities: Noninterest deposits, interest bearing demand deposits, money market accounts and savings accounts $ 5,077,086 $ 5,077,086 $ 5,077,086 $ — $ — Certificate of deposit accounts 490,647 494,093 — 494,093 — Securities sold under agreement to repurchase 24,444 24,444 24,444 — — Junior subordinated debentures 20,741 18,000 — — 18,000 Accrued interest payable 124 124 52 51 21 Derivative liabilities - interest rate swaps 31,618 31,618 — 31,618 — December 31, 2019 Carrying Value Fair Value Fair Value Measurements Using: Level 1 Level 2 Level 3 (In thousands) Financial Assets: Cash and cash equivalents $ 228,568 $ 228,568 $ 228,568 $ — $ — Investment securities available for sale 952,312 952,312 — 952,312 — Loans held for sale 5,533 5,704 — — 5,704 Loans receivable, net 3,731,708 3,791,557 — — 3,791,557 Accrued interest receivable 14,446 14,446 79 3,668 10,699 Derivative assets - interest rate swaps 8,318 8,318 — 8,318 — Equity security 148 148 148 — — Financial Liabilities: Noninterest deposits, interest bearing demand deposits, money market accounts and savings accounts $ 4,058,098 $ 4,058,098 $ 4,058,098 $ — $ — Certificate of deposit accounts 524,578 529,679 — 529,679 — Securities sold under agreement to repurchase 20,169 20,169 20,169 — — Junior subordinated debentures 20,595 20,000 — — 20,000 Accrued interest payable 199 199 95 64 40 Derivative liabilities - interest rate swaps 8,318 8,318 — 8,318 — |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Outstanding Commitments to Extend Credit and Letters of Credit [Table Text Block] | The following table presents outstanding commitments to extend credit, including letters of credit, at the dates indicated: June 30, 2020 December 31, 2019 (In thousands) Commercial business: Commercial and industrial $ 644,184 $ 584,287 Owner-occupied CRE 9,611 17,193 Non-owner occupied CRE 22,296 35,573 Total commercial business 676,091 637,053 Real estate construction and land development: One-to-four family residential 63,144 75,066 Five or more family residential and commercial properties 193,650 230,343 Total real estate construction and land development 256,794 305,409 Consumer 255,477 269,898 Total outstanding commitments $ 1,188,362 $ 1,212,360 |
Schedule of changes in allowance for loan losses | The following tables detail the activity in the ACL on loans disaggregated by segment and class for the three and six months ended June 30, 2020: Three Months Ended June 30, 2020 Beginning Balance Charge-offs Recoveries Provision for Credit Losses Ending Balance (In thousands) Commercial business: Commercial and industrial $ 13,900 $ (1,824) $ 69 $ 17,628 $ 29,773 SBA PPP — — — — — Owner-occupied CRE 6,216 — 2 3,785 10,003 Non-owner occupied CRE 7,750 — — 2,916 10,666 Total commercial business 27,866 (1,824) 71 24,329 50,442 One-to-four family residential 3,026 — — (803) 2,223 Real estate construction and land development: One-to-four family residential 864 — 7 (304) 567 Five or more family residential and commercial properties 11,444 — — (2,887) 8,557 Total real estate construction and land development 12,308 — 7 (3,191) 9,124 Consumer 4,340 (431) 197 5,606 9,712 Total $ 47,540 $ (2,255) $ 275 $ 25,941 $ 71,501 Six Months Ended June 30, 2020 Balance at Beginning Impact of CECL Adoption Beginning Balance, as Adjusted Charge-offs Recoveries Provision for Credit Losses Ending Balance (In thousands) Commercial business: Commercial and industrial $ 11,739 $ (1,348) $ 10,391 $ (2,911) $ 1,126 $ 21,167 $ 29,773 SBA PPP — — — — — — — Owner-occupied CRE 4,512 452 4,964 (135) 14 5,160 10,003 Non-owner occupied CRE 7,682 (2,039) 5,643 — — 5,023 10,666 Total commercial business 23,933 (2,935) 20,998 (3,046) 1,140 31,350 50,442 One-to-four family residential 1,458 1,471 2,929 — 3 (709) 2,223 Real estate construction and land development: One-to-four family residential 1,455 (571) 884 — 21 (338) 567 Five or more family residential and commercial properties 1,605 7,240 8,845 — — (288) 8,557 Total real estate construction and land development 3,060 6,669 9,729 — 21 (626) 9,124 Consumer 6,821 (2,484) 4,337 (806) 291 5,890 9,712 Unallocated 899 (899) — — — Total $ 36,171 $ 1,822 $ 37,993 $ (3,852) $ 1,455 $ 35,905 $ 71,501 The following tables detail activity in the allowance for loan losses disaggregated by segment and class for the three and six months ended June 30, 2019 under the incurred loss methodology, including the ASC 310-30 methodology for PCI loans: Three Months Ended June 30, 2019 Beginning Balance Charge-offs Recoveries Provision for Loan Losses Ending Balance (In thousands) Commercial business: Commercial and industrial $ 11,755 $ (774) $ 62 $ 950 $ 11,993 Owner-occupied CRE 5,256 — — (190) 5,066 Non-owner occupied CRE 7,825 — — 239 8,064 Total commercial business 24,836 (774) 62 999 25,123 One-to-four family residential 1,247 (15) — 113 1,345 Real estate construction and land development: One-to-four family residential 1,422 — 7 42 1,471 Five or more family residential and commercial properties 995 — — 65 1,060 Total real estate construction and land development 2,417 — 7 107 2,531 Consumer 6,480 (566) 130 496 6,540 Unallocated 1,172 — — (348) 824 Total $ 36,152 $ (1,355) $ 199 $ 1,367 $ 36,363 Six Months Ended June 30, 2019 Beginning Balance Charge-offs Recoveries Provision for Loan Losses Ending Balance (In thousands) Commercial business: Commercial and industrial $ 11,343 $ (877) $ 69 $ 1,458 $ 11,993 Owner-occupied CRE 4,898 — 3 165 5,066 Non-owner occupied CRE 7,470 — 149 445 8,064 Total commercial business 23,711 (877) 221 2,068 25,123 One-to-four family residential 1,203 (30) — 172 1,345 Real estate construction and land development: One-to-four family residential 1,240 — 625 (394) 1,471 Five or more family residential and commercial properties 954 — — 106 1,060 Total real estate construction and land development 2,194 — 625 (288) 2,531 Consumer 6,581 (1,152) 247 864 6,540 Unallocated 1,353 — — (529) 824 Total $ 35,042 $ (2,059) $ 1,093 $ 2,287 $ 36,363 The following table details the allowance for loan losses disaggregated on the basis of the Company's impairment method as of December 31, 2019 under the incurred loss methodology, including the ASC 310-30 methodology for PCI loans: Loans Individually Evaluated for Impairment Loans Collectively Evaluated for Impairment PCI Loans Total Allowance for Loan Losses (In thousands) Commercial business: Commercial and industrial $ 1,372 $ 9,772 $ 595 $ 11,739 Owner-occupied CRE 426 3,558 528 4,512 Non-owner occupied CRE 146 7,064 472 7,682 Total commercial business 1,944 20,394 1,595 23,933 One-to-four family residential 56 1,316 86 1,458 Real estate construction and land development: One-to-four family residential — 1,296 159 1,455 Five or more family residential and commercial properties — 1,527 78 1,605 Total real estate construction and land development — 2,823 237 3,060 Consumer 143 6,327 351 6,821 Unallocated — 899 — 899 Total $ 2,143 $ 31,759 $ 2,269 $ 36,171 |
Unused Commitments to Extend Credit [Member] | |
Schedule of changes in allowance for loan losses | The following table details the activity in the ACL on unfunded commitments during the three and six months ended June 30, 2020 and 2019: Three Months Ended Six Months Ended June 30, June 30, June 30, June 30, (In thousands) Balance, beginning of period $ 1,990 $ 306 $ 306 $ 306 Impact of CECL Adoption — — 3,702 — Adjusted balance, beginning of period 1,990 306 4,008 306 Provision for credit losses on unfunded commitments 2,622 — 604 — Balance, end of period $ 4,612 $ 306 $ 4,612 $ 306 |
Description of Business, Basi_3
Description of Business, Basis of Presentation and Significant Accounting Policies and Recently Issued Accounting Pronouncements - Description of Business (Details) $ in Thousands | Jun. 30, 2020USD ($)bank | Jan. 01, 2020USD ($) | Jan. 01, 2019USD ($) |
Business Description and Basis of Presentation [Line Items] | |||
Allowance for credit losses on loans | $ 71,501 | ||
Cumulative Effect of New Accounting Principle in Period of Adoption | $ (5,615) | $ (399) | |
Total Allowance for Credit Losses [Member] | |||
Business Description and Basis of Presentation [Line Items] | |||
Cumulative Effect of New Accounting Principle in Period of Adoption | 3,400 | ||
Accounting Standards Update 2016-13 [Member] | |||
Business Description and Basis of Presentation [Line Items] | |||
Allowance for credit losses on loans | 1,800 | ||
Cumulative Effect of New Accounting Principle in Period of Adoption | $ 5,600 | ||
Heritage Bank | |||
Business Description and Basis of Presentation [Line Items] | |||
Number of branches operating | bank | 62 |
Description of Business, Basi_4
Description of Business, Basis of Presentation and Significant Accounting Policies and Recently Issued Accounting Pronouncements - Recently Issued Accounting Pronouncements (Details) $ in Thousands | Jan. 01, 2020USD ($) | Jun. 30, 2020USD ($)bank | Jun. 30, 2020USD ($)bank | Jun. 30, 2019USD ($) | Dec. 31, 2019 | Mar. 31, 2020USD ($) | Mar. 31, 2019USD ($) | Jan. 01, 2019USD ($) |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||||
Provision for Loan, Lease, and Other Losses | $ 28,563 | $ 36,509 | $ 2,287 | |||||
Allowance for credit losses on loans | $ 71,501 | 71,501 | ||||||
Accumulated Credit Losses, Increase (Decrease), Percentage to Loans Receivable | 1.01% | (0.96%) | ||||||
Financing Receivable, Purchase, Discount (Premium) | $ 10,000 | $ 8,400 | ||||||
Effects of implementation of accounting change related to operating leases | (5,615) | $ (399) | ||||||
Heritage Bank [Member] | ||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||||
Number of Branches Operating | bank | 62 | 62 | ||||||
Accounting Standards Update 2016-13 [Member] | ||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||||
Allowance for credit losses on loans | 1,800 | |||||||
Financing Receivable, Allowance for Credit Loss, Purchased with Credit Deterioration, Increase | 1,600 | |||||||
Financing Receivable, Purchased with Credit Deterioration, Discount (Premium) | 4,300 | |||||||
Effects of implementation of accounting change related to operating leases | 5,600 | |||||||
Purchase Credit Impaired Loans [Member] | ||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||||
Provision for Loan, Lease, and Other Losses | 1,600 | |||||||
Unused Commitments to Extend Credit [Member] | ||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||||
Provision for Loan, Lease, and Other Losses | $ 3,700 | |||||||
Total Allowance for Credit Losses [Member] | ||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||||
Allowance for credit losses on loans | $ 71,501 | $ 71,501 | ||||||
UNITED STATES | ||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||||
Debt Securities, Available-for-sale, Issuance Percent | 83.50% | |||||||
State and Local Jurisdiction | ||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||||
Debt Securities, Available-for-sale, Issuance Percent | 14.00% | |||||||
Unused Commitments to Extend Credit and Total Accumulated Allowance Credit Losses [Member] | Accounting Standards Update 2016-13 [Member] | ||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||||
Effects of implementation of accounting change related to operating leases | 7,100 | |||||||
Total Allowance for Credit Losses [Member] | ||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||||
Effects of implementation of accounting change related to operating leases | 3,400 | |||||||
Unused Commitments to Extend Credit [Member] | ||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||||
Effects of implementation of accounting change related to operating leases | $ 3,702 | $ 0 | $ 0 | $ 0 |
Investment Securities - Amortiz
Investment Securities - Amortized Cost, Gross Unrealized Gains and Losses and Fair Values (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Investment Holdings [Line Items] | ||
Amortized Cost | $ 846,839 | $ 939,160 |
Gross Unrealized Gains | 34,685 | 14,660 |
Gross Unrealized Losses | (1,597) | (1,508) |
Fair Value | 879,927 | 952,312 |
U.S. Treasury and U.S. Government-sponsored agencies | ||
Investment Holdings [Line Items] | ||
Amortized Cost | 50,791 | 104,709 |
Gross Unrealized Gains | 1,396 | 598 |
Gross Unrealized Losses | (136) | (84) |
Fair Value | 52,051 | 105,223 |
Municipal securities | ||
Investment Holdings [Line Items] | ||
Amortized Cost | 183,296 | 128,183 |
Gross Unrealized Gains | 10,972 | 4,933 |
Gross Unrealized Losses | (337) | (102) |
Fair Value | 193,931 | 133,014 |
Residential | ||
Investment Holdings [Line Items] | ||
Amortized Cost | 260,944 | 336,929 |
Gross Unrealized Gains | 8,286 | 3,184 |
Gross Unrealized Losses | (246) | (505) |
Fair Value | 339,608 | |
Commercial | ||
Investment Holdings [Line Items] | ||
Amortized Cost | 305,041 | 322,169 |
Gross Unrealized Gains | 13,602 | 5,575 |
Gross Unrealized Losses | (302) | (649) |
Fair Value | 327,095 | |
Corporate obligations | ||
Investment Holdings [Line Items] | ||
Amortized Cost | 23,922 | 23,893 |
Gross Unrealized Gains | 335 | 316 |
Gross Unrealized Losses | (8) | (15) |
Fair Value | 24,194 | |
Other asset-backed securities | ||
Investment Holdings [Line Items] | ||
Amortized Cost | 22,845 | 23,277 |
Gross Unrealized Gains | 94 | 54 |
Gross Unrealized Losses | $ (568) | (153) |
Fair Value | $ 23,178 |
Investment Securities - Textual
Investment Securities - Textual (Details) - USD ($) | 3 Months Ended | 6 Months Ended | |
Jun. 30, 2020 | Jun. 30, 2020 | Dec. 31, 2019 | |
Amortized Cost | $ 251,139,000 | $ 251,139,000 | $ 229,189,000 |
Fair Value | 260,579,000 | 260,579,000 | 232,917,000 |
Allowance for credit losses on loans | 71,501,000 | 71,501,000 | |
Accrued Investment Income Receivable | 3,900,000 | 3,900,000 | 3,700,000 |
Securities classified as trading | 0 | 0 | 0 |
Available-for-sale Securities [Member] | |||
Provision for Other Credit Losses | 0 | 0 | |
Allowance for credit losses on loans | 0 | 0 | 0 |
Repurchase Agreements [Member] | |||
Amortized Cost | 29,323,000 | 29,323,000 | 22,156,000 |
Fair Value | 29,765,000 | 29,765,000 | 22,294,000 |
Washington and Oregon State to Secure Public Deposits [Member] | |||
Amortized Cost | 188,233,000 | 188,233,000 | 187,700,000 |
Fair Value | 196,117,000 | 196,117,000 | 190,773,000 |
Other securities pledged | |||
Amortized Cost | 33,583,000 | 33,583,000 | 19,333,000 |
Fair Value | $ 34,697,000 | $ 34,697,000 | $ 19,850,000 |
Investment Securities - Contrac
Investment Securities - Contractual Maturities (Details) $ in Thousands | Jun. 30, 2020USD ($) | Dec. 31, 2019USD ($) |
Amortized Cost | ||
Due in one year or less | $ 47,246 | |
Due after one year through five years | 146,626 | |
Due after five years through ten years | 217,935 | |
Due after ten years | 435,032 | |
Amortized Cost | 846,839 | $ 939,160 |
Fair Value | ||
Due in one year or less | 47,813 | |
Due after one year through five years | 151,911 | |
Due after five years through ten years | 228,844 | |
Due after ten years | 451,359 | |
Fair Value | $ 879,927 | $ 952,312 |
Concentration Risk Percentage Greater than Ten Percent | 0 | 0 |
Investment Securities - Unreali
Investment Securities - Unrealized Losses (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Fair Value | ||
Less than 12 Months | $ 41,203 | $ 145,676 |
12 Months or Longer | 52,284 | 107,451 |
Total | 93,487 | 253,127 |
Unrealized Losses | ||
Less than 12 Months | (1,028) | (558) |
12 Months or Longer | (569) | (950) |
Total | (1,597) | (1,508) |
U.S. Treasury and U.S. Government-sponsored agencies | ||
Fair Value | ||
Less than 12 Months | 5,865 | 45,999 |
12 Months or Longer | 0 | 0 |
Total | 5,865 | 45,999 |
Unrealized Losses | ||
Less than 12 Months | (136) | (84) |
12 Months or Longer | 0 | 0 |
Total | (136) | (84) |
Municipal securities | ||
Fair Value | ||
Less than 12 Months | 10,386 | 13,761 |
12 Months or Longer | 0 | 0 |
Total | 10,386 | 13,761 |
Unrealized Losses | ||
Less than 12 Months | (337) | (102) |
12 Months or Longer | 0 | 0 |
Total | (337) | (102) |
Residential | ||
Fair Value | ||
Less than 12 Months | 2,243 | 14,272 |
12 Months or Longer | 27,278 | 60,232 |
Total | 29,521 | 74,504 |
Unrealized Losses | ||
Less than 12 Months | (1) | (66) |
12 Months or Longer | (245) | (439) |
Total | (246) | (505) |
Commercial | ||
Fair Value | ||
Less than 12 Months | 5,792 | 56,263 |
12 Months or Longer | 21,538 | 43,623 |
Total | 27,330 | 99,886 |
Unrealized Losses | ||
Less than 12 Months | (16) | (177) |
12 Months or Longer | (286) | (472) |
Total | (302) | (649) |
Corporate obligations | ||
Fair Value | ||
Less than 12 Months | 0 | 998 |
12 Months or Longer | 1,992 | 1,987 |
Total | 1,992 | 2,985 |
Unrealized Losses | ||
Less than 12 Months | 0 | (2) |
12 Months or Longer | (8) | (13) |
Total | (8) | (15) |
Other asset-backed securities | ||
Fair Value | ||
Less than 12 Months | 16,917 | 14,383 |
12 Months or Longer | 1,476 | 1,609 |
Total | 18,393 | 15,992 |
Unrealized Losses | ||
Less than 12 Months | (538) | (127) |
12 Months or Longer | (30) | (26) |
Total | $ (568) | $ (153) |
Investment Securities - Realize
Investment Securities - Realized Gains and Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Investments, Debt and Equity Securities [Abstract] | ||||
Gross realized gains | $ 414 | $ 187 | $ 1,442 | $ 276 |
Gross realized losses | (5) | (154) | (19) | (228) |
Net realized gains | $ 409 | $ 33 | $ 1,423 | $ 48 |
Investment Securities - Amort_2
Investment Securities - Amortized Cost and Fair Value (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Scheduled of amortized cost and fair value of securities pledged as collateral | ||
Amortized Cost | $ 251,139 | $ 229,189 |
Fair Value | 260,579 | 232,917 |
Other securities pledged | ||
Scheduled of amortized cost and fair value of securities pledged as collateral | ||
Amortized Cost | 33,583 | 19,333 |
Fair Value | 34,697 | 19,850 |
Washington and Oregon State to Secure Public Deposits [Member] | ||
Scheduled of amortized cost and fair value of securities pledged as collateral | ||
Amortized Cost | 188,233 | 187,700 |
Fair Value | 196,117 | 190,773 |
Repurchase Agreements [Member] | ||
Scheduled of amortized cost and fair value of securities pledged as collateral | ||
Amortized Cost | 29,323 | 22,156 |
Fair Value | $ 29,765 | $ 22,294 |
Loans Receivable - Loan Origina
Loans Receivable - Loan Origination/Risk Management (Details) $ in Thousands | 6 Months Ended | 12 Months Ended | |||||
Jun. 30, 2020USD ($)segment | Dec. 31, 2019USD ($) | Mar. 31, 2020USD ($) | Jan. 01, 2020USD ($) | Jun. 30, 2019USD ($) | Mar. 31, 2019USD ($) | Dec. 31, 2018USD ($) | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Accrued interest receivable | $ 17,813 | $ 14,446 | |||||
Number of loan segments | segment | 4 | ||||||
Loans receivable | $ 4,666,333 | 3,767,879 | |||||
Allowance for credit losses on loans | 71,501 | ||||||
Loans and Leases Receivable, Allowance | 36,171 | $ 47,540 | $ 37,993 | $ 36,363 | $ 36,152 | $ 35,042 | |
Loans and Leases Receivable, Net Amount | $ 4,594,832 | $ 3,731,708 | |||||
Concentration Risk Percentage Greater than Ten Percent | 0 | 0 | |||||
Concentration Risk, Percentage | 10.00% | 10.00% | |||||
Loans Receivable [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Accrued interest receivable | $ 13,900 | $ 10,700 | |||||
Commercial Portfolio Segment [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans receivable | 3,839,785 | 2,946,233 | |||||
Allowance for credit losses on loans | 50,442 | ||||||
Loans and Leases Receivable, Allowance | 23,933 | 27,866 | 20,998 | 25,123 | 24,836 | 23,711 | |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans receivable | 793,217 | 852,220 | |||||
Allowance for credit losses on loans | 29,773 | ||||||
Loans and Leases Receivable, Allowance | 11,739 | 13,900 | 10,391 | 11,993 | 11,755 | 11,343 | |
Commercial Portfolio Segment [Member] | Owner Occupied Commercial Real Estate [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans receivable | 838,303 | 805,234 | |||||
Allowance for credit losses on loans | 10,003 | ||||||
Loans and Leases Receivable, Allowance | 4,512 | 6,216 | 4,964 | 5,066 | 5,256 | 4,898 | |
Commercial Portfolio Segment [Member] | Non Owner Occupied Commercial Real Estate [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans receivable | 1,351,775 | 1,288,779 | |||||
Allowance for credit losses on loans | 10,666 | ||||||
Loans and Leases Receivable, Allowance | 7,682 | 7,750 | 5,643 | 8,064 | 7,825 | 7,470 | |
Commercial Portfolio Segment [Member] | Paycheck Protection Program | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans receivable | 856,490 | 0 | |||||
Allowance for credit losses on loans | $ 0 | ||||||
Loans and Leases Receivable, Allowance | 0 | 0 | 0 | ||||
Commercial Portfolio Segment [Member] | SBA PPP Loans [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Interest rate (as a percent) | 1.00% | ||||||
Unamortized net deferred fees | $ 25,300 | ||||||
Loans receivable | $ 856,490 | ||||||
Commercial Portfolio Segment [Member] | SBA PPP Loans [Member] | Minimum | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Maturity of loans | 2 years | ||||||
Commercial Portfolio Segment [Member] | SBA PPP Loans [Member] | Maximum | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Maturity of loans | 5 years | ||||||
Residential Portfolio Segment [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans receivable | $ 132,546 | 131,660 | |||||
Allowance for credit losses on loans | 2,223 | ||||||
Loans and Leases Receivable, Allowance | 1,458 | 3,026 | 2,929 | 1,345 | 1,247 | 1,203 | |
Real Estate Construction and Land Development | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans receivable | 305,984 | 274,646 | |||||
Allowance for credit losses on loans | 9,124 | ||||||
Loans and Leases Receivable, Allowance | 3,060 | 12,308 | 9,729 | 2,531 | 2,417 | 2,194 | |
Real Estate Construction and Land Development | One-to-four Family Real Estate Construction | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans receivable | 108,821 | 104,296 | |||||
Allowance for credit losses on loans | 567 | ||||||
Loans and Leases Receivable, Allowance | 1,455 | 864 | 884 | 1,471 | 1,422 | 1,240 | |
Real Estate Construction and Land Development | Five or More Family Residential and Commercial Properties [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans receivable | 197,163 | 170,350 | |||||
Allowance for credit losses on loans | 8,557 | ||||||
Loans and Leases Receivable, Allowance | 1,605 | 11,444 | 8,845 | 1,060 | 995 | 954 | |
Consumer Portfolio Segment [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans receivable | 388,018 | 415,340 | |||||
Allowance for credit losses on loans | $ 9,712 | ||||||
Loans and Leases Receivable, Allowance | $ 6,821 | $ 4,340 | $ 4,337 | $ 6,540 | $ 6,480 | $ 6,581 |
Loans Receivable - Concentratio
Loans Receivable - Concentrations of Credit (Details) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2020 | Dec. 31, 2019 | |
Receivables [Abstract] | ||
Concentration of loans greater than 10% | 0 | 0 |
Percentage of concentrations of loans in any industry (in excess of 10%) (percent) | 10.00% | 10.00% |
Loans Receivable - Credit Quali
Loans Receivable - Credit Quality Indicators (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans and Leases Receivable, Collateral for Secured Borrowings | $ 34,836 | |
Pass | $ 3,625,083 | |
OAEM | 48,859 | |
Substandard | 93,413 | |
2017 | 524 | |
Financing Receivable, Originated in Current Fiscal Year | 1,152,050 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 809,690 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 509,937 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 434,433 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 464,826 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 991,512 | |
Financing Receivable, Revolving | 295,045 | |
Financing Receivable revolving converted to Term Loans | 8,840 | |
Loans and Leases Receivable, Gross | 4,666,333 | 3,767,879 |
Total | 4,666,333 | 3,767,879 |
Potential problem loans receivable | 100,600 | 87,800 |
Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans and Leases Receivable, Collateral for Secured Borrowings | 33,069 | |
Pass | 2,811,483 | |
OAEM | 46,661 | |
Substandard | 88,089 | |
2017 | 0 | |
Financing Receivable, Originated in Current Fiscal Year | 1,060,465 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 487,680 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 352,293 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 366,956 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 433,537 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 929,795 | |
Financing Receivable, Revolving | 200,453 | |
Financing Receivable revolving converted to Term Loans | 8,606 | |
Loans and Leases Receivable, Gross | 3,839,785 | 2,946,233 |
Total | 3,839,785 | 2,946,233 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans and Leases Receivable, Collateral for Secured Borrowings | 24,812 | |
Pass | 771,559 | |
OAEM | 16,340 | |
Substandard | 64,321 | |
2017 | 0 | |
Financing Receivable, Originated in Current Fiscal Year | 64,220 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 166,905 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 94,587 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 68,594 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 53,258 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 137,645 | |
Financing Receivable, Revolving | 200,453 | |
Financing Receivable revolving converted to Term Loans | 7,555 | |
Loans and Leases Receivable, Gross | 793,217 | 852,220 |
Total | 793,217 | 852,220 |
Commercial Portfolio Segment [Member] | Owner Occupied Commercial Real Estate [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans and Leases Receivable, Collateral for Secured Borrowings | 3,042 | |
Pass | 765,411 | |
OAEM | 24,659 | |
Substandard | 15,164 | |
2017 | 0 | |
Financing Receivable, Originated in Current Fiscal Year | 46,237 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 157,457 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 106,091 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 104,434 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 89,512 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 333,521 | |
Financing Receivable, Revolving | 0 | |
Financing Receivable revolving converted to Term Loans | 1,051 | |
Loans and Leases Receivable, Gross | 838,303 | 805,234 |
Total | 838,303 | 805,234 |
Commercial Portfolio Segment [Member] | Non Owner Occupied Commercial Real Estate [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans and Leases Receivable, Collateral for Secured Borrowings | 5,215 | |
Pass | 1,274,513 | |
OAEM | 5,662 | |
Substandard | 8,604 | |
2017 | 0 | |
Financing Receivable, Originated in Current Fiscal Year | 93,518 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 163,318 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 151,615 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 193,928 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 290,767 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 458,629 | |
Financing Receivable, Revolving | 0 | |
Financing Receivable revolving converted to Term Loans | 0 | |
Loans and Leases Receivable, Gross | 1,351,775 | 1,288,779 |
Total | 1,351,775 | 1,288,779 |
Commercial Portfolio Segment [Member] | Paycheck Protection Program | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Total | 856,490 | 0 |
Consumer Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Pass | 411,141 | |
OAEM | 0 | |
Substandard | 3,675 | |
2017 | 524 | |
Financing Receivable, Originated in Current Fiscal Year | 36,772 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 95,519 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 67,731 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 41,109 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 20,093 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 31,968 | |
Financing Receivable, Revolving | 94,592 | |
Financing Receivable revolving converted to Term Loans | 234 | |
Loans and Leases Receivable, Gross | 388,018 | 415,340 |
Total | 388,018 | 415,340 |
Residential Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans and Leases Receivable, Collateral for Secured Borrowings | 16 | |
Pass | 130,818 | |
OAEM | 0 | |
Substandard | 842 | |
2017 | 0 | |
Financing Receivable, Originated in Current Fiscal Year | 19,960 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 42,790 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 19,958 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 15,395 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 9,428 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 25,015 | |
Financing Receivable, Revolving | 0 | |
Financing Receivable revolving converted to Term Loans | 0 | |
Loans and Leases Receivable, Gross | 132,546 | 131,660 |
Total | 132,546 | 131,660 |
Real Estate Construction and Land Development [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Pass | 271,641 | |
OAEM | 2,198 | |
Substandard | 807 | |
2017 | 0 | |
Financing Receivable, Originated in Current Fiscal Year | 34,853 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 183,701 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 69,955 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 10,973 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 1,768 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 4,734 | |
Financing Receivable, Revolving | 0 | |
Financing Receivable revolving converted to Term Loans | 0 | |
Loans and Leases Receivable, Gross | 305,984 | 274,646 |
Total | 305,984 | 274,646 |
Real Estate Construction and Land Development [Member] | One to Four Family Real Estate Construction [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans and Leases Receivable, Collateral for Secured Borrowings | 1,751 | |
Pass | 101,973 | |
OAEM | 1,516 | |
Substandard | 807 | |
2017 | 0 | |
Financing Receivable, Originated in Current Fiscal Year | 17,955 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 75,844 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 8,366 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 3,980 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 971 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 1,705 | |
Financing Receivable, Revolving | 0 | |
Financing Receivable revolving converted to Term Loans | 0 | |
Loans and Leases Receivable, Gross | 108,821 | 104,296 |
Total | 108,821 | 104,296 |
Real Estate Construction and Land Development [Member] | Five or More Family Residential and Commercial Properties [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Pass | 169,668 | |
OAEM | 682 | |
Substandard | 0 | |
2017 | 0 | |
Financing Receivable, Originated in Current Fiscal Year | 16,898 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 107,857 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 61,589 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 6,993 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 797 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 3,029 | |
Financing Receivable, Revolving | 0 | |
Financing Receivable revolving converted to Term Loans | 0 | |
Loans and Leases Receivable, Gross | 197,163 | 170,350 |
Total | 197,163 | $ 170,350 |
Pass [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 1,148,100 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 795,003 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 501,586 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 408,061 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 449,014 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 938,026 | |
Financing Receivable, Revolving | 270,558 | |
Financing Receivable revolving converted to Term Loans | 4,935 | |
Loans and Leases Receivable, Gross | 4,515,283 | |
Pass [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 1,056,535 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 473,250 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 344,428 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 342,888 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 418,320 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 878,830 | |
Financing Receivable, Revolving | 176,396 | |
Financing Receivable revolving converted to Term Loans | 4,705 | |
Loans and Leases Receivable, Gross | 3,695,352 | |
Pass [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 60,290 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 152,475 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 86,904 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 59,048 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 49,096 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 123,041 | |
Financing Receivable, Revolving | 176,396 | |
Financing Receivable revolving converted to Term Loans | 3,654 | |
Loans and Leases Receivable, Gross | 710,904 | |
Pass [Member] | Commercial Portfolio Segment [Member] | Owner Occupied Commercial Real Estate [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 46,237 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 157,457 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 105,974 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 89,912 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 84,671 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 306,133 | |
Financing Receivable, Revolving | 0 | |
Financing Receivable revolving converted to Term Loans | 1,051 | |
Loans and Leases Receivable, Gross | 791,435 | |
Pass [Member] | Commercial Portfolio Segment [Member] | Non Owner Occupied Commercial Real Estate [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 93,518 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 163,318 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 151,550 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 193,928 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 284,553 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 449,656 | |
Financing Receivable, Revolving | 0 | |
Financing Receivable revolving converted to Term Loans | 0 | |
Loans and Leases Receivable, Gross | 1,336,523 | |
Pass [Member] | Commercial Portfolio Segment [Member] | Paycheck Protection Program | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 856,490 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | |
Financing Receivable, Revolving | 0 | |
Financing Receivable revolving converted to Term Loans | 0 | |
Loans and Leases Receivable, Gross | 856,490 | |
Pass [Member] | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 36,752 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 95,262 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 67,245 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 40,617 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 19,622 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 30,448 | |
Financing Receivable, Revolving | 94,162 | |
Financing Receivable revolving converted to Term Loans | 230 | |
Loans and Leases Receivable, Gross | 384,338 | |
Pass [Member] | Residential Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 19,960 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 42,790 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 19,958 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 15,334 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 9,304 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 24,507 | |
Financing Receivable, Revolving | 0 | |
Financing Receivable revolving converted to Term Loans | 0 | |
Loans and Leases Receivable, Gross | 131,853 | |
Pass [Member] | Real Estate Construction and Land Development [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 34,853 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 183,701 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 69,955 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 9,222 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 1,768 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 4,241 | |
Financing Receivable, Revolving | 0 | |
Financing Receivable revolving converted to Term Loans | 0 | |
Loans and Leases Receivable, Gross | 303,740 | |
Pass [Member] | Real Estate Construction and Land Development [Member] | One to Four Family Real Estate Construction [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 17,955 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 75,844 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 8,366 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 2,229 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 971 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 1,705 | |
Financing Receivable, Revolving | 0 | |
Financing Receivable revolving converted to Term Loans | 0 | |
Loans and Leases Receivable, Gross | 107,070 | |
Pass [Member] | Real Estate Construction and Land Development [Member] | Five or More Family Residential and Commercial Properties [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 16,898 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 107,857 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 61,589 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 6,993 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 797 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 2,536 | |
Financing Receivable, Revolving | 0 | |
Financing Receivable revolving converted to Term Loans | 0 | |
Loans and Leases Receivable, Gross | 196,670 | |
Special Mention [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 2,071 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 3,232 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 3,128 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 11,104 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 9,551 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 16,540 | |
Financing Receivable, Revolving | 14,830 | |
Financing Receivable revolving converted to Term Loans | 42 | |
Loans and Leases Receivable, Gross | 60,498 | |
Special Mention [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 2,071 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 3,232 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 3,128 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 11,104 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 9,551 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 16,502 | |
Financing Receivable, Revolving | 14,830 | |
Financing Receivable revolving converted to Term Loans | 42 | |
Loans and Leases Receivable, Gross | 60,460 | |
Special Mention [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 2,071 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 3,232 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 3,128 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 1,268 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 1,876 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 1,872 | |
Financing Receivable, Revolving | 14,830 | |
Financing Receivable revolving converted to Term Loans | 42 | |
Loans and Leases Receivable, Gross | 28,319 | |
Special Mention [Member] | Commercial Portfolio Segment [Member] | Owner Occupied Commercial Real Estate [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 9,836 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 1,461 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 12,691 | |
Financing Receivable, Revolving | 0 | |
Financing Receivable revolving converted to Term Loans | 0 | |
Loans and Leases Receivable, Gross | 23,988 | |
Special Mention [Member] | Commercial Portfolio Segment [Member] | Non Owner Occupied Commercial Real Estate [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 6,214 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 1,939 | |
Financing Receivable, Revolving | 0 | |
Financing Receivable revolving converted to Term Loans | 0 | |
Loans and Leases Receivable, Gross | 8,153 | |
Special Mention [Member] | Real Estate Construction and Land Development [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 38 | |
Financing Receivable, Revolving | 0 | |
Financing Receivable revolving converted to Term Loans | 0 | |
Loans and Leases Receivable, Gross | 38 | |
Special Mention [Member] | Real Estate Construction and Land Development [Member] | Five or More Family Residential and Commercial Properties [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 38 | |
Financing Receivable, Revolving | 0 | |
Financing Receivable revolving converted to Term Loans | 0 | |
Loans and Leases Receivable, Gross | 38 | |
Substandard [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 1,879 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 11,455 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 5,223 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 15,268 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 6,261 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 36,946 | |
Financing Receivable, Revolving | 9,657 | |
Financing Receivable revolving converted to Term Loans | 3,863 | |
Loans and Leases Receivable, Gross | 90,552 | |
Substandard [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 1,859 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 11,198 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 4,737 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 12,964 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 5,666 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 34,463 | |
Financing Receivable, Revolving | 9,227 | |
Financing Receivable revolving converted to Term Loans | 3,859 | |
Loans and Leases Receivable, Gross | 83,973 | |
Substandard [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 1,859 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 11,198 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 4,555 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 8,278 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 2,286 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 12,732 | |
Financing Receivable, Revolving | 9,227 | |
Financing Receivable revolving converted to Term Loans | 3,859 | |
Loans and Leases Receivable, Gross | 53,994 | |
Substandard [Member] | Commercial Portfolio Segment [Member] | Owner Occupied Commercial Real Estate [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 117 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 4,686 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 3,380 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 14,697 | |
Financing Receivable, Revolving | 0 | |
Financing Receivable revolving converted to Term Loans | 0 | |
Loans and Leases Receivable, Gross | 22,880 | |
Substandard [Member] | Commercial Portfolio Segment [Member] | Non Owner Occupied Commercial Real Estate [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 65 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 7,034 | |
Financing Receivable, Revolving | 0 | |
Financing Receivable revolving converted to Term Loans | 0 | |
Loans and Leases Receivable, Gross | 7,099 | |
Substandard [Member] | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 20 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 257 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 486 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 492 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 471 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 1,520 | |
Financing Receivable, Revolving | 430 | |
Financing Receivable revolving converted to Term Loans | 4 | |
Loans and Leases Receivable, Gross | 3,680 | |
Substandard [Member] | Residential Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 61 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 124 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 508 | |
Financing Receivable, Revolving | 0 | |
Financing Receivable revolving converted to Term Loans | 0 | |
Loans and Leases Receivable, Gross | 693 | |
Substandard [Member] | Real Estate Construction and Land Development [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 1,751 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 455 | |
Financing Receivable, Revolving | 0 | |
Financing Receivable revolving converted to Term Loans | 0 | |
Loans and Leases Receivable, Gross | 2,206 | |
Substandard [Member] | Real Estate Construction and Land Development [Member] | One to Four Family Real Estate Construction [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 1,751 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | |
Financing Receivable, Revolving | 0 | |
Financing Receivable revolving converted to Term Loans | 0 | |
Loans and Leases Receivable, Gross | 1,751 | |
Substandard [Member] | Real Estate Construction and Land Development [Member] | Five or More Family Residential and Commercial Properties [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 455 | |
Financing Receivable, Revolving | 0 | |
Financing Receivable revolving converted to Term Loans | 0 | |
Loans and Leases Receivable, Gross | 455 | |
Real Estate [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans and Leases Receivable, Collateral for Secured Borrowings | 10,270 | |
Real Estate [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans and Leases Receivable, Collateral for Secured Borrowings | 10,270 | |
Real Estate [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans and Leases Receivable, Collateral for Secured Borrowings | 2,013 | |
Real Estate [Member] | Commercial Portfolio Segment [Member] | Owner Occupied Commercial Real Estate [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans and Leases Receivable, Collateral for Secured Borrowings | 3,042 | |
Real Estate [Member] | Commercial Portfolio Segment [Member] | Non Owner Occupied Commercial Real Estate [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans and Leases Receivable, Collateral for Secured Borrowings | 5,215 | |
Real Estate [Member] | Residential Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans and Leases Receivable, Collateral for Secured Borrowings | 0 | |
Real Estate [Member] | Real Estate Construction and Land Development [Member] | One to Four Family Real Estate Construction [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans and Leases Receivable, Collateral for Secured Borrowings | 0 | |
Farmland [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans and Leases Receivable, Collateral for Secured Borrowings | 19,617 | |
Farmland [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans and Leases Receivable, Collateral for Secured Borrowings | 19,617 | |
Farmland [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans and Leases Receivable, Collateral for Secured Borrowings | 19,617 | |
Farmland [Member] | Commercial Portfolio Segment [Member] | Owner Occupied Commercial Real Estate [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans and Leases Receivable, Collateral for Secured Borrowings | 0 | |
Farmland [Member] | Commercial Portfolio Segment [Member] | Non Owner Occupied Commercial Real Estate [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans and Leases Receivable, Collateral for Secured Borrowings | 0 | |
Farmland [Member] | Residential Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans and Leases Receivable, Collateral for Secured Borrowings | 0 | |
Farmland [Member] | Real Estate Construction and Land Development [Member] | One to Four Family Real Estate Construction [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans and Leases Receivable, Collateral for Secured Borrowings | 0 | |
Single Family [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans and Leases Receivable, Collateral for Secured Borrowings | 3,161 | |
Single Family [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans and Leases Receivable, Collateral for Secured Borrowings | 1,394 | |
Single Family [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans and Leases Receivable, Collateral for Secured Borrowings | 1,394 | |
Single Family [Member] | Commercial Portfolio Segment [Member] | Owner Occupied Commercial Real Estate [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans and Leases Receivable, Collateral for Secured Borrowings | 0 | |
Single Family [Member] | Commercial Portfolio Segment [Member] | Non Owner Occupied Commercial Real Estate [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans and Leases Receivable, Collateral for Secured Borrowings | 0 | |
Single Family [Member] | Residential Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans and Leases Receivable, Collateral for Secured Borrowings | 16 | |
Single Family [Member] | Real Estate Construction and Land Development [Member] | One to Four Family Real Estate Construction [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans and Leases Receivable, Collateral for Secured Borrowings | 1,751 | |
Equipment or Accounts Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans and Leases Receivable, Collateral for Secured Borrowings | 1,788 | |
Equipment or Accounts Receivable [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans and Leases Receivable, Collateral for Secured Borrowings | 1,788 | |
Equipment or Accounts Receivable [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans and Leases Receivable, Collateral for Secured Borrowings | 1,788 | |
Equipment or Accounts Receivable [Member] | Commercial Portfolio Segment [Member] | Owner Occupied Commercial Real Estate [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans and Leases Receivable, Collateral for Secured Borrowings | 0 | |
Equipment or Accounts Receivable [Member] | Commercial Portfolio Segment [Member] | Non Owner Occupied Commercial Real Estate [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans and Leases Receivable, Collateral for Secured Borrowings | 0 | |
Equipment or Accounts Receivable [Member] | Residential Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans and Leases Receivable, Collateral for Secured Borrowings | 0 | |
Equipment or Accounts Receivable [Member] | Real Estate Construction and Land Development [Member] | One to Four Family Real Estate Construction [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans and Leases Receivable, Collateral for Secured Borrowings | $ 0 |
Loans Receivable - Nonaccrual L
Loans Receivable - Nonaccrual Loans (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | Dec. 31, 2019 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Gross nonaccrual loans | $ 33,628 | $ 33,628 | $ 44,525 | ||
Financing Receivable, Nonaccrual, No Allowance | 30,216 | 30,216 | |||
Financing Receivable, Nonaccrual, with Allowance | 3,412 | 3,412 | |||
Impaired Financing Receivable, Related Allowance | 2,143 | ||||
Financing Receivable, Originated in Current Fiscal Year | 1,152,050 | 1,152,050 | |||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 809,690 | 809,690 | |||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 509,937 | 509,937 | |||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 434,433 | 434,433 | |||
Pass [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Originated in Current Fiscal Year | 1,148,100 | 1,148,100 | |||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 795,003 | 795,003 | |||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 501,586 | 501,586 | |||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 408,061 | 408,061 | |||
Special Mention [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Originated in Current Fiscal Year | 2,071 | 2,071 | |||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 3,232 | 3,232 | |||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 3,128 | 3,128 | |||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 11,104 | 11,104 | |||
Substandard [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Originated in Current Fiscal Year | 1,879 | 1,879 | |||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 11,455 | 11,455 | |||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 5,223 | 5,223 | |||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 15,268 | 15,268 | |||
Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Gross nonaccrual loans | 33,382 | 33,382 | 44,320 | ||
Financing Receivable, Nonaccrual, No Allowance | 30,200 | 30,200 | |||
Financing Receivable, Nonaccrual, with Allowance | 3,182 | 3,182 | |||
Impaired Financing Receivable, Related Allowance | 1,944 | ||||
Financing Receivable, Originated in Current Fiscal Year | 1,060,465 | 1,060,465 | |||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 487,680 | 487,680 | |||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 352,293 | 352,293 | |||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 366,956 | 366,956 | |||
Commercial Portfolio Segment [Member] | Pass [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Originated in Current Fiscal Year | 1,056,535 | 1,056,535 | |||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 473,250 | 473,250 | |||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 344,428 | 344,428 | |||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 342,888 | 342,888 | |||
Commercial Portfolio Segment [Member] | Special Mention [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Originated in Current Fiscal Year | 2,071 | 2,071 | |||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 3,232 | 3,232 | |||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 3,128 | 3,128 | |||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 11,104 | 11,104 | |||
Commercial Portfolio Segment [Member] | Substandard [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Originated in Current Fiscal Year | 1,859 | 1,859 | |||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 11,198 | 11,198 | |||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 4,737 | 4,737 | |||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 12,964 | 12,964 | |||
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Gross nonaccrual loans | 25,817 | 25,817 | 33,544 | ||
Financing Receivable, Nonaccrual, No Allowance | 23,359 | 23,359 | |||
Financing Receivable, Nonaccrual, with Allowance | 2,458 | 2,458 | |||
Impaired Financing Receivable, Related Allowance | 1,372 | ||||
Financing Receivable, Originated in Current Fiscal Year | 64,220 | 64,220 | |||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 166,905 | 166,905 | |||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 94,587 | 94,587 | |||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 68,594 | 68,594 | |||
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Pass [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Originated in Current Fiscal Year | 60,290 | 60,290 | |||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 152,475 | 152,475 | |||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 86,904 | 86,904 | |||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 59,048 | 59,048 | |||
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Special Mention [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Originated in Current Fiscal Year | 2,071 | 2,071 | |||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 3,232 | 3,232 | |||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 3,128 | 3,128 | |||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 1,268 | 1,268 | |||
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Substandard [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Originated in Current Fiscal Year | 1,859 | 1,859 | |||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 11,198 | 11,198 | |||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 4,555 | 4,555 | |||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 8,278 | 8,278 | |||
Commercial Portfolio Segment [Member] | Owner Occupied Commercial Real Estate [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Gross nonaccrual loans | 3,766 | 3,766 | 4,714 | ||
Financing Receivable, Nonaccrual, No Allowance | 3,042 | 3,042 | |||
Financing Receivable, Nonaccrual, with Allowance | 724 | 724 | |||
Impaired Financing Receivable, Related Allowance | 426 | ||||
Financing Receivable, Originated in Current Fiscal Year | 46,237 | 46,237 | |||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 157,457 | 157,457 | |||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 106,091 | 106,091 | |||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 104,434 | 104,434 | |||
Commercial Portfolio Segment [Member] | Owner Occupied Commercial Real Estate [Member] | Pass [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Originated in Current Fiscal Year | 46,237 | 46,237 | |||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 157,457 | 157,457 | |||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 105,974 | 105,974 | |||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 89,912 | 89,912 | |||
Commercial Portfolio Segment [Member] | Owner Occupied Commercial Real Estate [Member] | Special Mention [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 | |||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 | |||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 9,836 | 9,836 | |||
Commercial Portfolio Segment [Member] | Owner Occupied Commercial Real Estate [Member] | Substandard [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 | |||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 117 | 117 | |||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 4,686 | 4,686 | |||
Commercial Portfolio Segment [Member] | Non Owner Occupied Commercial Real Estate [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Gross nonaccrual loans | 3,799 | 3,799 | 6,062 | ||
Financing Receivable, Nonaccrual, No Allowance | 3,799 | 3,799 | |||
Financing Receivable, Nonaccrual, with Allowance | 0 | 0 | |||
Impaired Financing Receivable, Related Allowance | 146 | ||||
Financing Receivable, Originated in Current Fiscal Year | 93,518 | 93,518 | |||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 163,318 | 163,318 | |||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 151,615 | 151,615 | |||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 193,928 | 193,928 | |||
Commercial Portfolio Segment [Member] | Non Owner Occupied Commercial Real Estate [Member] | Pass [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Originated in Current Fiscal Year | 93,518 | 93,518 | |||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 163,318 | 163,318 | |||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 151,550 | 151,550 | |||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 193,928 | 193,928 | |||
Commercial Portfolio Segment [Member] | Non Owner Occupied Commercial Real Estate [Member] | Special Mention [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 | |||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 | |||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 | |||
Commercial Portfolio Segment [Member] | Non Owner Occupied Commercial Real Estate [Member] | Substandard [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 | |||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 65 | 65 | |||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 | |||
Residential Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Gross nonaccrual loans | 160 | 160 | 19 | ||
Financing Receivable, Nonaccrual, No Allowance | 16 | 16 | |||
Financing Receivable, Nonaccrual, with Allowance | 144 | 144 | |||
Impaired Financing Receivable, Related Allowance | 56 | ||||
Financing Receivable, Originated in Current Fiscal Year | 19,960 | 19,960 | |||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 42,790 | 42,790 | |||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 19,958 | 19,958 | |||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 15,395 | 15,395 | |||
Residential Portfolio Segment [Member] | Pass [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Originated in Current Fiscal Year | 19,960 | 19,960 | |||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 42,790 | 42,790 | |||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 19,958 | 19,958 | |||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 15,334 | 15,334 | |||
Residential Portfolio Segment [Member] | Substandard [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 | |||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 | |||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 61 | 61 | |||
Real Estate Construction and Land Development | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Originated in Current Fiscal Year | 34,853 | 34,853 | |||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 183,701 | 183,701 | |||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 69,955 | 69,955 | |||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 10,973 | 10,973 | |||
Real Estate Construction and Land Development | Pass [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Originated in Current Fiscal Year | 34,853 | 34,853 | |||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 183,701 | 183,701 | |||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 69,955 | 69,955 | |||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 9,222 | 9,222 | |||
Real Estate Construction and Land Development | Special Mention [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 | |||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 | |||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 | |||
Real Estate Construction and Land Development | Substandard [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 | |||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 | |||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 1,751 | 1,751 | |||
Real Estate Construction and Land Development | One-to-four Family Real Estate Construction | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Impaired Financing Receivable, Related Allowance | 0 | ||||
Financing Receivable, Originated in Current Fiscal Year | 17,955 | 17,955 | |||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 75,844 | 75,844 | |||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 8,366 | 8,366 | |||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 3,980 | 3,980 | |||
Real Estate Construction and Land Development | One-to-four Family Real Estate Construction | Pass [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Originated in Current Fiscal Year | 17,955 | 17,955 | |||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 75,844 | 75,844 | |||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 8,366 | 8,366 | |||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 2,229 | 2,229 | |||
Real Estate Construction and Land Development | One-to-four Family Real Estate Construction | Substandard [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 | |||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 | |||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 1,751 | 1,751 | |||
Real Estate Construction and Land Development | Five or More Family Residential and Commercial Properties [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Originated in Current Fiscal Year | 16,898 | 16,898 | |||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 107,857 | 107,857 | |||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 61,589 | 61,589 | |||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 6,993 | 6,993 | |||
Real Estate Construction and Land Development | Five or More Family Residential and Commercial Properties [Member] | Pass [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Originated in Current Fiscal Year | 16,898 | 16,898 | |||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 107,857 | 107,857 | |||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 61,589 | 61,589 | |||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 6,993 | 6,993 | |||
Real Estate Construction and Land Development | Five or More Family Residential and Commercial Properties [Member] | Special Mention [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 | |||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 | |||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 | |||
Real Estate Construction and Land Development | Five or More Family Residential and Commercial Properties [Member] | Substandard [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 | |||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 | |||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 | |||
Consumer Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Gross nonaccrual loans | 86 | 86 | 186 | ||
Financing Receivable, Nonaccrual, No Allowance | 0 | 0 | |||
Financing Receivable, Nonaccrual, with Allowance | 86 | 86 | |||
Impaired Financing Receivable, Related Allowance | $ 143 | ||||
Financing Receivable, Originated in Current Fiscal Year | 36,772 | 36,772 | |||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 95,519 | 95,519 | |||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 67,731 | 67,731 | |||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 41,109 | 41,109 | |||
Consumer Portfolio Segment [Member] | Pass [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Originated in Current Fiscal Year | 36,752 | 36,752 | |||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 95,262 | 95,262 | |||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 67,245 | 67,245 | |||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 40,617 | 40,617 | |||
Consumer Portfolio Segment [Member] | Substandard [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Originated in Current Fiscal Year | 20 | 20 | |||
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 257 | 257 | |||
Financing Receivable, Originated Two Years before Latest Fiscal Year | 486 | 486 | |||
Financing Receivable, Originated Three Years before Latest Fiscal Year | 492 | 492 | |||
Nonaccrual [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Purchased with Credit Deterioration, Discount (Premium) | 429 | ||||
Nonaccrual [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Impaired Financing Receivable, Interest Income, Accrual Method | 162 | $ 73 | 482 | $ 135 | |
Impaired Financing Receivable Interest Income Reversal Accrual Method | 0 | (36) | (16) | (93) | |
Nonaccrual [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Impaired Financing Receivable, Interest Income, Accrual Method | 125 | 50 | 435 | 106 | |
Impaired Financing Receivable Interest Income Reversal Accrual Method | 0 | (36) | (16) | (90) | |
Nonaccrual [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Impaired Financing Receivable, Interest Income, Accrual Method | 89 | 11 | 308 | 60 | |
Impaired Financing Receivable Interest Income Reversal Accrual Method | 0 | (35) | (16) | (56) | |
Nonaccrual [Member] | Commercial Portfolio Segment [Member] | Owner Occupied Commercial Real Estate [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Impaired Financing Receivable, Interest Income, Accrual Method | 14 | 39 | 60 | 46 | |
Impaired Financing Receivable Interest Income Reversal Accrual Method | 0 | (1) | 0 | 0 | |
Nonaccrual [Member] | Commercial Portfolio Segment [Member] | Non Owner Occupied Commercial Real Estate [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Impaired Financing Receivable, Interest Income, Accrual Method | 22 | 0 | 67 | 0 | |
Impaired Financing Receivable Interest Income Reversal Accrual Method | 0 | 0 | 0 | (34) | |
Nonaccrual [Member] | Real Estate Construction and Land Development | One-to-four Family Real Estate Construction | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Impaired Financing Receivable, Interest Income, Accrual Method | 0 | 23 | 0 | 23 | |
Impaired Financing Receivable Interest Income Reversal Accrual Method | 0 | 0 | 0 | (3) | |
Nonaccrual [Member] | Consumer Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Impaired Financing Receivable, Interest Income, Accrual Method | 37 | 0 | 47 | 6 | |
Impaired Financing Receivable Interest Income Reversal Accrual Method | 0 | $ 0 | 0 | $ 0 | |
Troubled Debt Restructured Loans [Member] | Modified during the quarter [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Impaired Financing Receivable, Related Allowance | $ 1,600 | $ 1,600 |
Loans Receivable - Past Due Loa
Loans Receivable - Past Due Loans (Details) - USD ($) | Jun. 30, 2020 | Dec. 31, 2019 | Jun. 30, 2019 |
Financing Receivable, Past Due [Line Items] | |||
Total Past Due | $ 11,002,000 | ||
Current | 4,655,331,000 | ||
Total | 4,666,333,000 | $ 3,767,879,000 | |
Certain Loans and Debt Securities Acquired in Transfer, with Related Allowance for Credit Losses Due to Subsequent Impairment | 18,110,000 | ||
90 days or more and still accruing | 0 | $ 0 | |
Financing Receivables, 30 to 89 Days Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Total Past Due | 5,146,000 | ||
90 Days or Greater | |||
Financing Receivable, Past Due [Line Items] | |||
Total Past Due | 5,856,000 | ||
Commercial Portfolio Segment [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Total Past Due | 10,171,000 | 21,061,000 | |
Current | 3,829,614,000 | 2,912,399,000 | |
Loan and Lease Receivable, Gross excluding Purchase Credit Impaired Loans | 2,933,460,000 | ||
Total | 3,839,785,000 | 2,946,233,000 | |
Certain Loans and Debt Securities Acquired in Transfer, with Related Allowance for Credit Losses Due to Subsequent Impairment | 12,773,000 | ||
Commercial Portfolio Segment [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Total Past Due | 4,319,000 | 11,640,000 | |
Commercial Portfolio Segment [Member] | 90 Days or Greater | |||
Financing Receivable, Past Due [Line Items] | |||
Total Past Due | 5,852,000 | 9,421,000 | |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Total Past Due | 9,573,000 | 17,251,000 | |
Current | 783,644,000 | 832,601,000 | |
Loan and Lease Receivable, Gross excluding Purchase Credit Impaired Loans | 849,852,000 | ||
Total | 793,217,000 | 852,220,000 | |
Certain Loans and Debt Securities Acquired in Transfer, with Related Allowance for Credit Losses Due to Subsequent Impairment | 2,368,000 | ||
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Total Past Due | 4,273,000 | 10,479,000 | |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | 90 Days or Greater | |||
Financing Receivable, Past Due [Line Items] | |||
Total Past Due | 5,300,000 | 6,772,000 | |
Commercial Portfolio Segment [Member] | SBA PPP Loans [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Total Past Due | 0 | ||
Current | 856,490,000 | ||
Total | 856,490,000 | ||
Commercial Portfolio Segment [Member] | SBA PPP Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Total Past Due | 0 | ||
Commercial Portfolio Segment [Member] | SBA PPP Loans [Member] | 90 Days or Greater | |||
Financing Receivable, Past Due [Line Items] | |||
Total Past Due | 0 | ||
Commercial Portfolio Segment [Member] | Owner Occupied Commercial Real Estate [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Total Past Due | 487,000 | 1,413,000 | |
Current | 837,816,000 | 798,907,000 | |
Loan and Lease Receivable, Gross excluding Purchase Credit Impaired Loans | 800,320,000 | ||
Total | 838,303,000 | 805,234,000 | |
Certain Loans and Debt Securities Acquired in Transfer, with Related Allowance for Credit Losses Due to Subsequent Impairment | 4,914,000 | ||
Commercial Portfolio Segment [Member] | Owner Occupied Commercial Real Estate [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Total Past Due | 46,000 | 607,000 | |
Commercial Portfolio Segment [Member] | Owner Occupied Commercial Real Estate [Member] | 90 Days or Greater | |||
Financing Receivable, Past Due [Line Items] | |||
Total Past Due | 441,000 | 806,000 | |
Commercial Portfolio Segment [Member] | Non Owner Occupied Commercial Real Estate [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Total Past Due | 111,000 | 2,397,000 | |
Current | 1,351,664,000 | 1,280,891,000 | |
Loan and Lease Receivable, Gross excluding Purchase Credit Impaired Loans | 1,283,288,000 | ||
Total | 1,351,775,000 | 1,288,779,000 | |
Certain Loans and Debt Securities Acquired in Transfer, with Related Allowance for Credit Losses Due to Subsequent Impairment | 5,491,000 | ||
Commercial Portfolio Segment [Member] | Non Owner Occupied Commercial Real Estate [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Total Past Due | 0 | 554,000 | |
Commercial Portfolio Segment [Member] | Non Owner Occupied Commercial Real Estate [Member] | 90 Days or Greater | |||
Financing Receivable, Past Due [Line Items] | |||
Total Past Due | 111,000 | 1,843,000 | |
Residential Portfolio Segment [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Total Past Due | 140,000 | 797,000 | |
Current | 132,406,000 | 127,288,000 | |
Loan and Lease Receivable, Gross excluding Purchase Credit Impaired Loans | 128,085,000 | ||
Total | 132,546,000 | 131,660,000 | |
Certain Loans and Debt Securities Acquired in Transfer, with Related Allowance for Credit Losses Due to Subsequent Impairment | 3,575,000 | ||
Residential Portfolio Segment [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Total Past Due | 140,000 | 797,000 | |
Residential Portfolio Segment [Member] | 90 Days or Greater | |||
Financing Receivable, Past Due [Line Items] | |||
Total Past Due | 0 | 0 | |
Real Estate Construction and Land Development | |||
Financing Receivable, Past Due [Line Items] | |||
Total Past Due | 0 | 1,516,000 | |
Current | 305,984,000 | 273,130,000 | |
Loan and Lease Receivable, Gross excluding Purchase Credit Impaired Loans | 274,646,000 | ||
Total | 305,984,000 | 274,646,000 | |
Certain Loans and Debt Securities Acquired in Transfer, with Related Allowance for Credit Losses Due to Subsequent Impairment | 0 | ||
Real Estate Construction and Land Development | Financing Receivables, 30 to 89 Days Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Total Past Due | 0 | 1,516,000 | |
Real Estate Construction and Land Development | 90 Days or Greater | |||
Financing Receivable, Past Due [Line Items] | |||
Total Past Due | 0 | 0 | |
Real Estate Construction and Land Development | One-to-four Family Real Estate Construction | |||
Financing Receivable, Past Due [Line Items] | |||
Total Past Due | 0 | 1,516,000 | |
Current | 108,821,000 | 102,780,000 | |
Loan and Lease Receivable, Gross excluding Purchase Credit Impaired Loans | 104,296,000 | ||
Total | 108,821,000 | 104,296,000 | |
Certain Loans and Debt Securities Acquired in Transfer, with Related Allowance for Credit Losses Due to Subsequent Impairment | 0 | ||
Real Estate Construction and Land Development | One-to-four Family Real Estate Construction | Financing Receivables, 30 to 89 Days Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Total Past Due | 0 | 1,516,000 | |
Real Estate Construction and Land Development | One-to-four Family Real Estate Construction | 90 Days or Greater | |||
Financing Receivable, Past Due [Line Items] | |||
Total Past Due | 0 | 0 | |
Real Estate Construction and Land Development | Five or More Family Residential and Commercial Properties [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Total Past Due | 0 | 0 | |
Current | 197,163,000 | 170,350,000 | |
Loan and Lease Receivable, Gross excluding Purchase Credit Impaired Loans | 170,350,000 | ||
Total | 197,163,000 | 170,350,000 | |
Certain Loans and Debt Securities Acquired in Transfer, with Related Allowance for Credit Losses Due to Subsequent Impairment | 0 | ||
Real Estate Construction and Land Development | Five or More Family Residential and Commercial Properties [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Total Past Due | 0 | 0 | |
Real Estate Construction and Land Development | Five or More Family Residential and Commercial Properties [Member] | 90 Days or Greater | |||
Financing Receivable, Past Due [Line Items] | |||
Total Past Due | 0 | 0 | |
Consumer Portfolio Segment [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Total Past Due | 691,000 | 2,071,000 | |
Current | 387,327,000 | 411,507,000 | |
Loan and Lease Receivable, Gross excluding Purchase Credit Impaired Loans | 413,578,000 | ||
Total | 388,018,000 | 415,340,000 | |
Certain Loans and Debt Securities Acquired in Transfer, with Related Allowance for Credit Losses Due to Subsequent Impairment | 1,762,000 | ||
Consumer Portfolio Segment [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Total Past Due | 687,000 | 2,071,000 | |
Consumer Portfolio Segment [Member] | 90 Days or Greater | |||
Financing Receivable, Past Due [Line Items] | |||
Total Past Due | $ 4,000 | 0 | |
Loans Receivable Excluding PCI Loans [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Total Past Due | 25,445,000 | ||
Current | 3,724,324,000 | ||
Loan and Lease Receivable, Gross excluding Purchase Credit Impaired Loans | 3,749,769,000 | ||
Loans Receivable Excluding PCI Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Total Past Due | 16,024,000 | ||
Loans Receivable Excluding PCI Loans [Member] | 90 Days or Greater | |||
Financing Receivable, Past Due [Line Items] | |||
Total Past Due | $ 9,421,000 |
Loans Receivable - Impaired Loa
Loans Receivable - Impaired Loans (Details) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | Dec. 31, 2019 | |
Financing Receivable, Impaired [Line Items] | |||||
Recorded Investment With No Specific Valuation Allowance | $ 39,646,000 | ||||
Recorded Investment With Specific Valuation Allowance | 17,835,000 | ||||
Total Amortized Cost | 57,481,000 | ||||
Unpaid Contractual Principal Balance | 59,837,000 | ||||
Related Specific Valuation Allowance | 2,143,000 | ||||
Average recorded investment on impaired loans | $ 41,333,000 | $ 39,701,000 | |||
Nonaccrual [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Interest income recognized on impaired loans | $ 162,000 | 73,000 | $ 482,000 | 135,000 | |
Restructured Performing [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Interest income recognized on impaired loans | 274,000 | 397,000 | 882,000 | 698,000 | |
Commercial Portfolio Segment [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Recorded Investment With No Specific Valuation Allowance | 39,409,000 | ||||
Recorded Investment With Specific Valuation Allowance | 17,059,000 | ||||
Total Amortized Cost | 56,468,000 | ||||
Unpaid Contractual Principal Balance | 58,807,000 | ||||
Related Specific Valuation Allowance | 1,944,000 | ||||
Average recorded investment on impaired loans | 39,614,000 | 37,986,000 | |||
Commercial Portfolio Segment [Member] | Nonaccrual [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Interest income recognized on impaired loans | 125,000 | 50,000 | 435,000 | 106,000 | |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Recorded Investment With No Specific Valuation Allowance | 30,179,000 | ||||
Recorded Investment With Specific Valuation Allowance | 13,629,000 | ||||
Total Amortized Cost | 43,808,000 | ||||
Unpaid Contractual Principal Balance | 45,585,000 | ||||
Related Specific Valuation Allowance | 1,372,000 | ||||
Average recorded investment on impaired loans | 25,215,000 | 24,422,000 | |||
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Nonaccrual [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Interest income recognized on impaired loans | 89,000 | 11,000 | 308,000 | 60,000 | |
Commercial Portfolio Segment [Member] | Owner Occupied Commercial Real Estate [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Recorded Investment With No Specific Valuation Allowance | 3,921,000 | ||||
Recorded Investment With Specific Valuation Allowance | 2,415,000 | ||||
Total Amortized Cost | 6,336,000 | ||||
Unpaid Contractual Principal Balance | 6,764,000 | ||||
Related Specific Valuation Allowance | 426,000 | ||||
Average recorded investment on impaired loans | 6,178,000 | 6,058,000 | |||
Commercial Portfolio Segment [Member] | Owner Occupied Commercial Real Estate [Member] | Nonaccrual [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Interest income recognized on impaired loans | 14,000 | 39,000 | 60,000 | 46,000 | |
Commercial Portfolio Segment [Member] | Non Owner Occupied Commercial Real Estate [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Recorded Investment With No Specific Valuation Allowance | 5,309,000 | ||||
Recorded Investment With Specific Valuation Allowance | 1,015,000 | ||||
Total Amortized Cost | 6,324,000 | ||||
Unpaid Contractual Principal Balance | 6,458,000 | ||||
Related Specific Valuation Allowance | 146,000 | ||||
Average recorded investment on impaired loans | 8,221,000 | 7,506,000 | |||
Commercial Portfolio Segment [Member] | Non Owner Occupied Commercial Real Estate [Member] | Nonaccrual [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Interest income recognized on impaired loans | 22,000 | 0 | 67,000 | 0 | |
Residential Portfolio Segment [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Recorded Investment With No Specific Valuation Allowance | 0 | ||||
Recorded Investment With Specific Valuation Allowance | 215,000 | ||||
Total Amortized Cost | 215,000 | ||||
Unpaid Contractual Principal Balance | 223,000 | ||||
Related Specific Valuation Allowance | 56,000 | ||||
Average recorded investment on impaired loans | 248,000 | 259,000 | |||
Real Estate Construction and Land Development | One-to-four Family Real Estate Construction | |||||
Financing Receivable, Impaired [Line Items] | |||||
Recorded Investment With No Specific Valuation Allowance | 237,000 | ||||
Recorded Investment With Specific Valuation Allowance | 0 | ||||
Total Amortized Cost | 237,000 | ||||
Unpaid Contractual Principal Balance | 237,000 | ||||
Related Specific Valuation Allowance | 0 | ||||
Average recorded investment on impaired loans | 858,000 | 872,000 | |||
Real Estate Construction and Land Development | One-to-four Family Real Estate Construction | Nonaccrual [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Interest income recognized on impaired loans | 0 | 23,000 | 0 | 23,000 | |
Consumer Portfolio Segment [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Recorded Investment With No Specific Valuation Allowance | 0 | ||||
Recorded Investment With Specific Valuation Allowance | 561,000 | ||||
Total Amortized Cost | 561,000 | ||||
Unpaid Contractual Principal Balance | 570,000 | ||||
Related Specific Valuation Allowance | $ 143,000 | ||||
Average recorded investment on impaired loans | 613,000 | 584,000 | |||
Consumer Portfolio Segment [Member] | Nonaccrual [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Interest income recognized on impaired loans | $ 37,000 | $ 0 | $ 47,000 | $ 6,000 |
Loans Receivable - TDR Loans, R
Loans Receivable - TDR Loans, Recorded Investment and Allowance (Details) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2020USD ($)contract | Jun. 30, 2019contract | Jun. 30, 2020USD ($)contract | Jun. 30, 2019contract | Dec. 31, 2019USD ($) | |
Receivables [Abstract] | |||||
Financing Receivable, Modifications, Number of Contracts | contract | 34 | 12 | 37 | 20 | |
Performing TDRs, TDR loans | $ 20,687 | $ 20,687 | $ 14,469 | ||
Nonaccrual TDRs, TDR loans | 20,907 | 20,907 | 26,338 | ||
Performing TDRs, Allowance for loan losses on TDR loans | 1,259 | ||||
Nonaccrual TDRs, Allowance for loan losses on TDR loans | 218 | ||||
Allowance for Loan Credit Losses on Financing Receivable Modifications Accruing Recorded Investment | 1,624 | 1,624 | |||
Allowance for Loan Credit Losses on Financing Receivable Modifications Non Accruing Recorded Investment | 371 | 371 | |||
Unfunded commitments related to credits classified as TDRs | $ 2,600 | $ 2,600 | $ 736 |
Loans Receivable - Modified TDR
Loans Receivable - Modified TDRs (Details) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2020USD ($)contract | Jun. 30, 2019USD ($)contractContract | Jun. 30, 2020USD ($)contract | Jun. 30, 2019USD ($)contractContract | Dec. 31, 2019USD ($) | |
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||
Allowance for Loan Losses on Financing Receivable Modifications Accruing Recorded Investment | $ 1,259,000 | ||||
Allowance for Loan Losses on Financing Receivable Modifications Non Accruing Recorded Investment | 218,000 | ||||
Loans Modified as Troubled Debt Restructurings [Abstract] | |||||
Number of Contracts | contract | 34 | 12 | 37 | 20 | |
Related Specific Valuation Allowance | 2,143,000 | ||||
Commercial Portfolio Segment [Member] | |||||
Loans Modified as Troubled Debt Restructurings [Abstract] | |||||
Related Specific Valuation Allowance | 1,944,000 | ||||
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |||||
Loans Modified as Troubled Debt Restructurings [Abstract] | |||||
Related Specific Valuation Allowance | 1,372,000 | ||||
Commercial Portfolio Segment [Member] | Owner Occupied Commercial Real Estate [Member] | |||||
Loans Modified as Troubled Debt Restructurings [Abstract] | |||||
Related Specific Valuation Allowance | 426,000 | ||||
Commercial Portfolio Segment [Member] | Non Owner Occupied Commercial Real Estate [Member] | |||||
Loans Modified as Troubled Debt Restructurings [Abstract] | |||||
Related Specific Valuation Allowance | 146,000 | ||||
Real Estate Construction and Land Development | One-to-four Family Real Estate Construction | |||||
Loans Modified as Troubled Debt Restructurings [Abstract] | |||||
Related Specific Valuation Allowance | 0 | ||||
Consumer Portfolio Segment [Member] | |||||
Loans Modified as Troubled Debt Restructurings [Abstract] | |||||
Related Specific Valuation Allowance | $ 143,000 | ||||
Troubled Debt Restructured Loans | |||||
Loans Modified as Troubled Debt Restructurings [Abstract] | |||||
Number of Contracts | contract | 50 | 20 | 63 | 35 | |
Outstanding Principal Balance | $ 15,737,000 | $ 12,943,000 | $ 21,027,000 | $ 26,057,000 | |
Number of contracts modified | contract | 4 | 8 | 7 | 10 | |
Troubled Debt Restructured Loans | Finance Receivable Modified Subsequent Default | |||||
Loans Modified as Troubled Debt Restructurings [Abstract] | |||||
Related Specific Valuation Allowance | $ 494,000 | $ 304,000 | $ 494,000 | $ 304,000 | |
Troubled Debt Restructured Loans | Commercial Portfolio Segment [Member] | |||||
Loans Modified as Troubled Debt Restructurings [Abstract] | |||||
Number of Contracts | contract | 37 | 17 | 45 | 26 | |
Outstanding Principal Balance | $ 13,904,000 | $ 12,890,000 | $ 19,103,000 | $ 25,331,000 | |
Number of contracts modified | contract | 4 | 7 | 7 | 9 | |
Troubled Debt Restructured Loans | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |||||
Loans Modified as Troubled Debt Restructurings [Abstract] | |||||
Number of Contracts | contract | 31 | 14 | 36 | 20 | |
Outstanding Principal Balance | $ 11,849,000 | $ 8,626,000 | $ 13,893,000 | $ 18,061,000 | |
Number of contracts modified | contract | 2 | 6 | 4 | 6 | |
Troubled Debt Restructured Loans | Commercial Portfolio Segment [Member] | Owner Occupied Commercial Real Estate [Member] | |||||
Loans Modified as Troubled Debt Restructurings [Abstract] | |||||
Number of Contracts | contract | 4 | 1 | 6 | 3 | |
Outstanding Principal Balance | $ 1,657,000 | $ 710,000 | $ 3,067,000 | $ 1,628,000 | |
Number of contracts modified | 1 | 1 | 1 | 2 | |
Troubled Debt Restructured Loans | Commercial Portfolio Segment [Member] | Non Owner Occupied Commercial Real Estate [Member] | |||||
Loans Modified as Troubled Debt Restructurings [Abstract] | |||||
Number of Contracts | contract | 2 | 2 | 3 | 3 | |
Outstanding Principal Balance | $ 398,000 | $ 3,554,000 | $ 2,143,000 | $ 5,642,000 | |
Number of contracts modified | contract | 1 | 0 | 2 | 1 | |
Troubled Debt Restructured Loans | Real Estate Construction and Land Development | One-to-four Family Real Estate Construction | |||||
Loans Modified as Troubled Debt Restructurings [Abstract] | |||||
Number of Contracts | contract | 4 | 0 | 4 | 1 | |
Outstanding Principal Balance | $ 1,751,000 | $ 0 | $ 1,751,000 | $ 560,000 | |
Number of contracts modified | contract | 0 | 1 | 0 | 1 | |
Troubled Debt Restructured Loans | Consumer Portfolio Segment [Member] | |||||
Loans Modified as Troubled Debt Restructurings [Abstract] | |||||
Number of Contracts | contract | 9 | 3 | 14 | 8 | |
Outstanding Principal Balance | $ 82,000 | $ 53,000 | $ 173,000 | $ 166,000 | |
Restructured Performing [Member] | |||||
Loans Modified as Troubled Debt Restructurings [Abstract] | |||||
Impaired Financing Receivable, Interest Income, Accrual Method | $ 274,000 | $ 397,000 | $ 882,000 | $ 698,000 |
Loans Receivable - TDRs Subsequ
Loans Receivable - TDRs Subsequently Defaulted (Details) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2020USD ($)contract | Jun. 30, 2019USD ($)contractContract | Jun. 30, 2020USD ($)contract | Jun. 30, 2019USD ($)contractContract | Dec. 31, 2019USD ($) | |
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||
Financing Receivable, Modifications, Number of Contracts | contract | 34 | 12 | 37 | 20 | |
Related Specific Valuation Allowance | $ 2,143,000 | ||||
Commercial Portfolio Segment [Member] | |||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||
Related Specific Valuation Allowance | 1,944,000 | ||||
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||
Related Specific Valuation Allowance | 1,372,000 | ||||
Commercial Portfolio Segment [Member] | Owner Occupied Commercial Real Estate [Member] | |||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||
Related Specific Valuation Allowance | 426,000 | ||||
Commercial Portfolio Segment [Member] | Non Owner Occupied Commercial Real Estate [Member] | |||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||
Related Specific Valuation Allowance | 146,000 | ||||
Real Estate Construction and Land Development | One-to-four Family Real Estate Construction | |||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||
Related Specific Valuation Allowance | 0 | ||||
Consumer Portfolio Segment [Member] | |||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||
Related Specific Valuation Allowance | $ 143,000 | ||||
Troubled Debt Restructured Loans | |||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 15,737,000 | $ 12,943,000 | $ 21,027,000 | $ 26,057,000 | |
Financing Receivable, Modifications, Number of Contracts | contract | 50 | 20 | 63 | 35 | |
Number of Contracts | contract | 4 | 8 | 7 | 10 | |
Amortized Cost | $ 1,027,000 | $ 2,237,000 | $ 2,998,000 | $ 3,533,000 | |
Troubled Debt Restructured Loans | Commercial Portfolio Segment [Member] | |||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 13,904,000 | $ 12,890,000 | $ 19,103,000 | $ 25,331,000 | |
Financing Receivable, Modifications, Number of Contracts | contract | 37 | 17 | 45 | 26 | |
Number of Contracts | contract | 4 | 7 | 7 | 9 | |
Amortized Cost | $ 1,027,000 | $ 1,677,000 | $ 2,998,000 | $ 2,973,000 | |
Troubled Debt Restructured Loans | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 11,849,000 | $ 8,626,000 | $ 13,893,000 | $ 18,061,000 | |
Financing Receivable, Modifications, Number of Contracts | contract | 31 | 14 | 36 | 20 | |
Number of Contracts | contract | 2 | 6 | 4 | 6 | |
Amortized Cost | $ 302,000 | $ 1,278,000 | $ 2,155,000 | $ 1,278,000 | |
Troubled Debt Restructured Loans | Commercial Portfolio Segment [Member] | Owner Occupied Commercial Real Estate [Member] | |||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 1,657,000 | $ 710,000 | $ 3,067,000 | $ 1,628,000 | |
Financing Receivable, Modifications, Number of Contracts | contract | 4 | 1 | 6 | 3 | |
Number of Contracts | 1 | 1 | 1 | 2 | |
Amortized Cost | $ 445,000 | $ 399,000 | $ 445,000 | $ 1,109,000 | |
Troubled Debt Restructured Loans | Commercial Portfolio Segment [Member] | Non Owner Occupied Commercial Real Estate [Member] | |||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 398,000 | $ 3,554,000 | $ 2,143,000 | $ 5,642,000 | |
Financing Receivable, Modifications, Number of Contracts | contract | 2 | 2 | 3 | 3 | |
Number of Contracts | contract | 1 | 0 | 2 | 1 | |
Amortized Cost | $ 280,000 | $ 0 | $ 398,000 | $ 586,000 | |
Troubled Debt Restructured Loans | Real Estate Construction and Land Development | One-to-four Family Real Estate Construction | |||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 1,751,000 | $ 0 | $ 1,751,000 | $ 560,000 | |
Financing Receivable, Modifications, Number of Contracts | contract | 4 | 0 | 4 | 1 | |
Number of Contracts | contract | 0 | 1 | 0 | 1 | |
Amortized Cost | $ 0 | $ 560,000 | $ 0 | $ 560,000 | |
Troubled Debt Restructured Loans | Consumer Portfolio Segment [Member] | |||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 82,000 | $ 53,000 | $ 173,000 | $ 166,000 | |
Financing Receivable, Modifications, Number of Contracts | contract | 9 | 3 | 14 | 8 | |
Restructured Performing [Member] | |||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||
Impaired Financing Receivable, Interest Income, Accrual Method | $ 274,000 | $ 397,000 | $ 882,000 | $ 698,000 | |
Finance Receivable Modified Subsequent Default | Troubled Debt Restructured Loans | |||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||
Related Specific Valuation Allowance | $ 494,000 | $ 304,000 | $ 494,000 | $ 304,000 |
Loans Receivable - Purchased Cr
Loans Receivable - Purchased Credit Impaired Loans (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2019 | Jun. 30, 2019 | Dec. 31, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | |
Financing Receivable, Impaired [Line Items] | |||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | $ 39,646 | ||||
Outstanding Principal | 20,950 | ||||
Certain Loans and Debt Securities Acquired in Transfer, with Related Allowance for Credit Losses Due to Subsequent Impairment | 18,110 | ||||
Recorded Investment | 18,110 | ||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 17,835 | ||||
Impaired Financing Receivable, Recorded Investment | 57,481 | ||||
Impaired Financing Receivable, Unpaid Principal Balance | 59,837 | ||||
Impaired Financing Receivable, Related Allowance | 2,143 | ||||
Purchase Credit Impaired Loans [Member] [Domain] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield | $ 8,572 | $ 8,572 | $ 8,460 | $ 9,493 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield, Accretion | 513 | 1,094 | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield, Disposals of Loans | $ 198 | $ 650 | |||
Commercial Portfolio Segment [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 39,409 | ||||
Outstanding Principal | 16,392 | ||||
Certain Loans and Debt Securities Acquired in Transfer, with Related Allowance for Credit Losses Due to Subsequent Impairment | 12,773 | ||||
Recorded Investment | 12,773 | ||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 17,059 | ||||
Impaired Financing Receivable, Recorded Investment | 56,468 | ||||
Impaired Financing Receivable, Unpaid Principal Balance | 58,807 | ||||
Impaired Financing Receivable, Related Allowance | 1,944 | ||||
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 30,179 | ||||
Outstanding Principal | 4,439 | ||||
Certain Loans and Debt Securities Acquired in Transfer, with Related Allowance for Credit Losses Due to Subsequent Impairment | 2,368 | ||||
Recorded Investment | 2,368 | ||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 13,629 | ||||
Impaired Financing Receivable, Recorded Investment | 43,808 | ||||
Impaired Financing Receivable, Unpaid Principal Balance | 45,585 | ||||
Impaired Financing Receivable, Related Allowance | 1,372 | ||||
Commercial Portfolio Segment [Member] | Owner Occupied Commercial Real Estate [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 3,921 | ||||
Outstanding Principal | 4,925 | ||||
Certain Loans and Debt Securities Acquired in Transfer, with Related Allowance for Credit Losses Due to Subsequent Impairment | 4,914 | ||||
Recorded Investment | 4,914 | ||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 2,415 | ||||
Impaired Financing Receivable, Recorded Investment | 6,336 | ||||
Impaired Financing Receivable, Unpaid Principal Balance | 6,764 | ||||
Impaired Financing Receivable, Related Allowance | 426 | ||||
Commercial Portfolio Segment [Member] | Non Owner Occupied Commercial Real Estate [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 5,309 | ||||
Outstanding Principal | 7,028 | ||||
Certain Loans and Debt Securities Acquired in Transfer, with Related Allowance for Credit Losses Due to Subsequent Impairment | 5,491 | ||||
Recorded Investment | 5,491 | ||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 1,015 | ||||
Impaired Financing Receivable, Recorded Investment | 6,324 | ||||
Impaired Financing Receivable, Unpaid Principal Balance | 6,458 | ||||
Impaired Financing Receivable, Related Allowance | 146 | ||||
Residential Portfolio Segment [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 0 | ||||
Outstanding Principal | 3,095 | ||||
Certain Loans and Debt Securities Acquired in Transfer, with Related Allowance for Credit Losses Due to Subsequent Impairment | 3,575 | ||||
Recorded Investment | 3,575 | ||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 215 | ||||
Impaired Financing Receivable, Recorded Investment | 215 | ||||
Impaired Financing Receivable, Unpaid Principal Balance | 223 | ||||
Impaired Financing Receivable, Related Allowance | 56 | ||||
Real Estate Construction and Land Development | |||||
Financing Receivable, Impaired [Line Items] | |||||
Certain Loans and Debt Securities Acquired in Transfer, with Related Allowance for Credit Losses Due to Subsequent Impairment | 0 | ||||
Recorded Investment | 0 | ||||
Real Estate Construction and Land Development | One-to-four Family Real Estate Construction | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 237 | ||||
Certain Loans and Debt Securities Acquired in Transfer, with Related Allowance for Credit Losses Due to Subsequent Impairment | 0 | ||||
Recorded Investment | 0 | ||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 0 | ||||
Impaired Financing Receivable, Recorded Investment | 237 | ||||
Impaired Financing Receivable, Unpaid Principal Balance | 237 | ||||
Impaired Financing Receivable, Related Allowance | 0 | ||||
Real Estate Construction and Land Development | Five or More Family Residential and Commercial Properties [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Certain Loans and Debt Securities Acquired in Transfer, with Related Allowance for Credit Losses Due to Subsequent Impairment | 0 | ||||
Recorded Investment | 0 | ||||
Consumer Portfolio Segment [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 0 | ||||
Outstanding Principal | 1,463 | ||||
Certain Loans and Debt Securities Acquired in Transfer, with Related Allowance for Credit Losses Due to Subsequent Impairment | 1,762 | ||||
Recorded Investment | 1,762 | ||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 561 | ||||
Impaired Financing Receivable, Recorded Investment | 561 | ||||
Impaired Financing Receivable, Unpaid Principal Balance | 570 | ||||
Impaired Financing Receivable, Related Allowance | $ 143 |
Loans Receivable - Change in Ac
Loans Receivable - Change in Accretable Yield (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended |
Jun. 30, 2019 | Jun. 30, 2019 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Impaired Financing Receivable, Average Recorded Investment | $ 41,333 | $ 39,701 |
PCI Loans | ||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | ||
Balance at the beginning of the period | 8,460 | 9,493 |
Accretion | (513) | (1,094) |
Disposal and other | (198) | (650) |
Reclassification from nonaccretable difference | 823 | 823 |
Balance at the end of the period | 8,572 | 8,572 |
Commercial Portfolio Segment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Impaired Financing Receivable, Average Recorded Investment | 39,614 | 37,986 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Impaired Financing Receivable, Average Recorded Investment | 25,215 | 24,422 |
Commercial Portfolio Segment [Member] | Owner Occupied Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Impaired Financing Receivable, Average Recorded Investment | 6,178 | 6,058 |
Commercial Portfolio Segment [Member] | Non Owner Occupied Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Impaired Financing Receivable, Average Recorded Investment | 8,221 | 7,506 |
Residential Portfolio Segment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Impaired Financing Receivable, Average Recorded Investment | 248 | 259 |
Real Estate Construction and Land Development [Member] | One to Four Family Real Estate Construction [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Impaired Financing Receivable, Average Recorded Investment | 858 | 872 |
Consumer Portfolio Segment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Impaired Financing Receivable, Average Recorded Investment | $ 613 | $ 584 |
Loans Receivable - Collateral D
Loans Receivable - Collateral Dependent (Details) $ in Thousands | Jun. 30, 2020USD ($) |
Financial Instruments Owned and Pledged as Collateral [Line Items] | |
Loans and Leases Receivable, Collateral for Secured Borrowings | $ 34,836 |
Commercial Portfolio Segment [Member] | |
Financial Instruments Owned and Pledged as Collateral [Line Items] | |
Loans and Leases Receivable, Collateral for Secured Borrowings | 33,069 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |
Financial Instruments Owned and Pledged as Collateral [Line Items] | |
Loans and Leases Receivable, Collateral for Secured Borrowings | 24,812 |
Commercial Portfolio Segment [Member] | Owner Occupied Commercial Real Estate [Member] | |
Financial Instruments Owned and Pledged as Collateral [Line Items] | |
Loans and Leases Receivable, Collateral for Secured Borrowings | 3,042 |
Commercial Portfolio Segment [Member] | Non Owner Occupied Commercial Real Estate [Member] | |
Financial Instruments Owned and Pledged as Collateral [Line Items] | |
Loans and Leases Receivable, Collateral for Secured Borrowings | 5,215 |
Residential Portfolio Segment [Member] | |
Financial Instruments Owned and Pledged as Collateral [Line Items] | |
Loans and Leases Receivable, Collateral for Secured Borrowings | 16 |
Real Estate Construction and Land Development [Member] | One to Four Family Real Estate Construction [Member] | |
Financial Instruments Owned and Pledged as Collateral [Line Items] | |
Loans and Leases Receivable, Collateral for Secured Borrowings | 1,751 |
Real Estate [Member] | |
Financial Instruments Owned and Pledged as Collateral [Line Items] | |
Loans and Leases Receivable, Collateral for Secured Borrowings | 10,270 |
Real Estate [Member] | Commercial Portfolio Segment [Member] | |
Financial Instruments Owned and Pledged as Collateral [Line Items] | |
Loans and Leases Receivable, Collateral for Secured Borrowings | 10,270 |
Real Estate [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |
Financial Instruments Owned and Pledged as Collateral [Line Items] | |
Loans and Leases Receivable, Collateral for Secured Borrowings | 2,013 |
Real Estate [Member] | Commercial Portfolio Segment [Member] | Owner Occupied Commercial Real Estate [Member] | |
Financial Instruments Owned and Pledged as Collateral [Line Items] | |
Loans and Leases Receivable, Collateral for Secured Borrowings | 3,042 |
Real Estate [Member] | Commercial Portfolio Segment [Member] | Non Owner Occupied Commercial Real Estate [Member] | |
Financial Instruments Owned and Pledged as Collateral [Line Items] | |
Loans and Leases Receivable, Collateral for Secured Borrowings | 5,215 |
Real Estate [Member] | Residential Portfolio Segment [Member] | |
Financial Instruments Owned and Pledged as Collateral [Line Items] | |
Loans and Leases Receivable, Collateral for Secured Borrowings | 0 |
Real Estate [Member] | Real Estate Construction and Land Development [Member] | One to Four Family Real Estate Construction [Member] | |
Financial Instruments Owned and Pledged as Collateral [Line Items] | |
Loans and Leases Receivable, Collateral for Secured Borrowings | 0 |
Farmland [Member] | |
Financial Instruments Owned and Pledged as Collateral [Line Items] | |
Loans and Leases Receivable, Collateral for Secured Borrowings | 19,617 |
Farmland [Member] | Commercial Portfolio Segment [Member] | |
Financial Instruments Owned and Pledged as Collateral [Line Items] | |
Loans and Leases Receivable, Collateral for Secured Borrowings | 19,617 |
Farmland [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |
Financial Instruments Owned and Pledged as Collateral [Line Items] | |
Loans and Leases Receivable, Collateral for Secured Borrowings | 19,617 |
Farmland [Member] | Commercial Portfolio Segment [Member] | Owner Occupied Commercial Real Estate [Member] | |
Financial Instruments Owned and Pledged as Collateral [Line Items] | |
Loans and Leases Receivable, Collateral for Secured Borrowings | 0 |
Farmland [Member] | Commercial Portfolio Segment [Member] | Non Owner Occupied Commercial Real Estate [Member] | |
Financial Instruments Owned and Pledged as Collateral [Line Items] | |
Loans and Leases Receivable, Collateral for Secured Borrowings | 0 |
Farmland [Member] | Residential Portfolio Segment [Member] | |
Financial Instruments Owned and Pledged as Collateral [Line Items] | |
Loans and Leases Receivable, Collateral for Secured Borrowings | 0 |
Farmland [Member] | Real Estate Construction and Land Development [Member] | One to Four Family Real Estate Construction [Member] | |
Financial Instruments Owned and Pledged as Collateral [Line Items] | |
Loans and Leases Receivable, Collateral for Secured Borrowings | 0 |
Single Family [Member] | |
Financial Instruments Owned and Pledged as Collateral [Line Items] | |
Loans and Leases Receivable, Collateral for Secured Borrowings | 3,161 |
Single Family [Member] | Commercial Portfolio Segment [Member] | |
Financial Instruments Owned and Pledged as Collateral [Line Items] | |
Loans and Leases Receivable, Collateral for Secured Borrowings | 1,394 |
Single Family [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |
Financial Instruments Owned and Pledged as Collateral [Line Items] | |
Loans and Leases Receivable, Collateral for Secured Borrowings | 1,394 |
Single Family [Member] | Commercial Portfolio Segment [Member] | Owner Occupied Commercial Real Estate [Member] | |
Financial Instruments Owned and Pledged as Collateral [Line Items] | |
Loans and Leases Receivable, Collateral for Secured Borrowings | 0 |
Single Family [Member] | Commercial Portfolio Segment [Member] | Non Owner Occupied Commercial Real Estate [Member] | |
Financial Instruments Owned and Pledged as Collateral [Line Items] | |
Loans and Leases Receivable, Collateral for Secured Borrowings | 0 |
Single Family [Member] | Residential Portfolio Segment [Member] | |
Financial Instruments Owned and Pledged as Collateral [Line Items] | |
Loans and Leases Receivable, Collateral for Secured Borrowings | 16 |
Single Family [Member] | Real Estate Construction and Land Development [Member] | One to Four Family Real Estate Construction [Member] | |
Financial Instruments Owned and Pledged as Collateral [Line Items] | |
Loans and Leases Receivable, Collateral for Secured Borrowings | 1,751 |
Equipment or Accounts Receivable [Member] | |
Financial Instruments Owned and Pledged as Collateral [Line Items] | |
Loans and Leases Receivable, Collateral for Secured Borrowings | 1,788 |
Equipment or Accounts Receivable [Member] | Commercial Portfolio Segment [Member] | |
Financial Instruments Owned and Pledged as Collateral [Line Items] | |
Loans and Leases Receivable, Collateral for Secured Borrowings | 1,788 |
Equipment or Accounts Receivable [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |
Financial Instruments Owned and Pledged as Collateral [Line Items] | |
Loans and Leases Receivable, Collateral for Secured Borrowings | 1,788 |
Equipment or Accounts Receivable [Member] | Commercial Portfolio Segment [Member] | Owner Occupied Commercial Real Estate [Member] | |
Financial Instruments Owned and Pledged as Collateral [Line Items] | |
Loans and Leases Receivable, Collateral for Secured Borrowings | 0 |
Equipment or Accounts Receivable [Member] | Commercial Portfolio Segment [Member] | Non Owner Occupied Commercial Real Estate [Member] | |
Financial Instruments Owned and Pledged as Collateral [Line Items] | |
Loans and Leases Receivable, Collateral for Secured Borrowings | 0 |
Equipment or Accounts Receivable [Member] | Residential Portfolio Segment [Member] | |
Financial Instruments Owned and Pledged as Collateral [Line Items] | |
Loans and Leases Receivable, Collateral for Secured Borrowings | 0 |
Equipment or Accounts Receivable [Member] | Real Estate Construction and Land Development [Member] | One to Four Family Real Estate Construction [Member] | |
Financial Instruments Owned and Pledged as Collateral [Line Items] | |
Loans and Leases Receivable, Collateral for Secured Borrowings | $ 0 |
Allowance for Loan Losses - Sum
Allowance for Loan Losses - Summary of Changes in Loan Allowance (Details) - USD ($) $ in Thousands | Jan. 01, 2023 | Jan. 01, 2021 | Jan. 01, 2020 | Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, Allowance for Credit Losses, Effect of Change in Method | $ 1,822 | ||||||
Financing Receivable, Allowance for Credit Loss, Writeoff | $ (2,255) | $ (3,852) | |||||
Schedule of changes in allowance for loan losses | |||||||
Beginning Balance | 36,171 | 47,540 | $ 36,152 | 36,171 | $ 35,042 | ||
Recoveries | (275) | (1,455) | |||||
Recoveries | 199 | 1,093 | |||||
Provision for Credit Losses | 25,941 | 1,367 | 35,905 | 2,287 | |||
Ending Balance | 37,993 | 36,363 | 36,363 | ||||
Allowance for credit losses on loans | 71,501 | 71,501 | |||||
Loans and Leases Receivable, Collateral for Secured Borrowings | 34,836 | 34,836 | |||||
Allowance for Loan and Lease Losses, Write-offs | (1,355) | (2,059) | |||||
Financing Receivable, Allowance for Credit Loss, Writeoff Net | 2,400 | ||||||
Real Estate [Member] | |||||||
Schedule of changes in allowance for loan losses | |||||||
Loans and Leases Receivable, Collateral for Secured Borrowings | 10,270 | 10,270 | |||||
Commercial and Industrial [Member] | |||||||
Schedule of changes in allowance for loan losses | |||||||
Financing Receivable, Allowance for Credit Loss, Writeoff Net | 1,700 | ||||||
Commercial Portfolio Segment [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, Allowance for Credit Losses, Effect of Change in Method | (2,935) | ||||||
Financing Receivable, Allowance for Credit Loss, Writeoff | (1,824) | (3,046) | |||||
Schedule of changes in allowance for loan losses | |||||||
Beginning Balance | 23,933 | 27,866 | 24,836 | 23,933 | 23,711 | ||
Recoveries | (71) | (1,140) | |||||
Recoveries | 62 | 221 | |||||
Provision for Credit Losses | 24,329 | 999 | 31,350 | 2,068 | |||
Ending Balance | 20,998 | 25,123 | 25,123 | ||||
Allowance for credit losses on loans | 50,442 | 50,442 | |||||
Loans and Leases Receivable, Collateral for Secured Borrowings | 33,069 | 33,069 | |||||
Allowance for Loan and Lease Losses, Write-offs | (774) | (877) | |||||
Financing Receivable, Allowance for Credit Loss, Writeoff Net | 963 | ||||||
Commercial Portfolio Segment [Member] | Real Estate [Member] | |||||||
Schedule of changes in allowance for loan losses | |||||||
Loans and Leases Receivable, Collateral for Secured Borrowings | 10,270 | 10,270 | |||||
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, Allowance for Credit Losses, Effect of Change in Method | (1,348) | ||||||
Financing Receivable, Allowance for Credit Loss, Writeoff | (1,824) | (2,911) | |||||
Schedule of changes in allowance for loan losses | |||||||
Beginning Balance | 11,739 | 13,900 | 11,755 | 11,739 | 11,343 | ||
Recoveries | (69) | (1,126) | |||||
Recoveries | 62 | 69 | |||||
Provision for Credit Losses | 17,628 | 950 | 21,167 | 1,458 | |||
Ending Balance | 10,391 | 11,993 | 11,993 | ||||
Allowance for credit losses on loans | 29,773 | 29,773 | |||||
Loans and Leases Receivable, Collateral for Secured Borrowings | 24,812 | 24,812 | |||||
Allowance for Loan and Lease Losses, Write-offs | (774) | (877) | |||||
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Real Estate [Member] | |||||||
Schedule of changes in allowance for loan losses | |||||||
Loans and Leases Receivable, Collateral for Secured Borrowings | 2,013 | 2,013 | |||||
Commercial Portfolio Segment [Member] | Owner Occupied Commercial Real Estate [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, Allowance for Credit Losses, Effect of Change in Method | 452 | ||||||
Financing Receivable, Allowance for Credit Loss, Writeoff | 0 | (135) | |||||
Schedule of changes in allowance for loan losses | |||||||
Beginning Balance | 4,512 | 6,216 | 5,256 | 4,512 | 4,898 | ||
Recoveries | (2) | (14) | |||||
Recoveries | 0 | 3 | |||||
Provision for Credit Losses | 3,785 | (190) | 5,160 | 165 | |||
Ending Balance | 4,964 | 5,066 | 5,066 | ||||
Allowance for credit losses on loans | 10,003 | 10,003 | |||||
Loans and Leases Receivable, Collateral for Secured Borrowings | 3,042 | 3,042 | |||||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | |||||
Commercial Portfolio Segment [Member] | Owner Occupied Commercial Real Estate [Member] | Real Estate [Member] | |||||||
Schedule of changes in allowance for loan losses | |||||||
Loans and Leases Receivable, Collateral for Secured Borrowings | 3,042 | 3,042 | |||||
Commercial Portfolio Segment [Member] | Non Owner Occupied Commercial Real Estate [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, Allowance for Credit Losses, Effect of Change in Method | (2,039) | ||||||
Financing Receivable, Allowance for Credit Loss, Writeoff | 0 | 0 | |||||
Schedule of changes in allowance for loan losses | |||||||
Beginning Balance | 7,682 | 7,750 | 7,825 | 7,682 | 7,470 | ||
Recoveries | 0 | 0 | |||||
Recoveries | 0 | 149 | |||||
Provision for Credit Losses | 2,916 | 239 | 5,023 | 445 | |||
Ending Balance | 5,643 | 8,064 | 8,064 | ||||
Allowance for credit losses on loans | 10,666 | 10,666 | |||||
Loans and Leases Receivable, Collateral for Secured Borrowings | 5,215 | 5,215 | |||||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | |||||
Commercial Portfolio Segment [Member] | Non Owner Occupied Commercial Real Estate [Member] | Real Estate [Member] | |||||||
Schedule of changes in allowance for loan losses | |||||||
Loans and Leases Receivable, Collateral for Secured Borrowings | 5,215 | 5,215 | |||||
Commercial Portfolio Segment [Member] | Paycheck Protection Program | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, Allowance for Credit Losses, Effect of Change in Method | 0 | ||||||
Financing Receivable, Allowance for Credit Loss, Writeoff | 0 | 0 | |||||
Schedule of changes in allowance for loan losses | |||||||
Beginning Balance | 0 | 0 | 0 | ||||
Recoveries | 0 | 0 | |||||
Provision for Credit Losses | 0 | 0 | |||||
Ending Balance | 0 | ||||||
Allowance for credit losses on loans | 0 | 0 | |||||
Residential Portfolio Segment [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, Allowance for Credit Losses, Effect of Change in Method | 1,471 | ||||||
Financing Receivable, Allowance for Credit Loss, Writeoff | 0 | 0 | |||||
Schedule of changes in allowance for loan losses | |||||||
Beginning Balance | 1,458 | 3,026 | 1,247 | 1,458 | 1,203 | ||
Recoveries | 0 | (3) | |||||
Recoveries | 0 | 0 | |||||
Provision for Credit Losses | (803) | 113 | (709) | 172 | |||
Ending Balance | 2,929 | 1,345 | 1,345 | ||||
Allowance for credit losses on loans | 2,223 | 2,223 | |||||
Loans and Leases Receivable, Collateral for Secured Borrowings | 16 | 16 | |||||
Allowance for Loan and Lease Losses, Write-offs | (15) | (30) | |||||
Residential Portfolio Segment [Member] | Real Estate [Member] | |||||||
Schedule of changes in allowance for loan losses | |||||||
Loans and Leases Receivable, Collateral for Secured Borrowings | 0 | 0 | |||||
Real Estate Construction and Land Development | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, Allowance for Credit Losses, Effect of Change in Method | 6,669 | ||||||
Financing Receivable, Allowance for Credit Loss, Writeoff | 0 | 0 | |||||
Schedule of changes in allowance for loan losses | |||||||
Beginning Balance | 3,060 | 12,308 | 2,417 | 3,060 | 2,194 | ||
Recoveries | (7) | (21) | |||||
Recoveries | 7 | 625 | |||||
Provision for Credit Losses | (3,191) | 107 | (626) | (288) | |||
Ending Balance | 9,729 | 2,531 | 2,531 | ||||
Allowance for credit losses on loans | 9,124 | 9,124 | |||||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | |||||
Real Estate Construction and Land Development | One-to-four Family Real Estate Construction | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, Allowance for Credit Losses, Effect of Change in Method | (571) | ||||||
Financing Receivable, Allowance for Credit Loss, Writeoff | 0 | 0 | |||||
Schedule of changes in allowance for loan losses | |||||||
Beginning Balance | 1,455 | 864 | 1,422 | 1,455 | 1,240 | ||
Recoveries | (7) | (21) | |||||
Recoveries | 7 | 625 | |||||
Provision for Credit Losses | (304) | 42 | (338) | (394) | |||
Ending Balance | 884 | 1,471 | 1,471 | ||||
Allowance for credit losses on loans | 567 | 567 | |||||
Loans and Leases Receivable, Collateral for Secured Borrowings | 1,751 | 1,751 | |||||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | |||||
Real Estate Construction and Land Development | One-to-four Family Real Estate Construction | Real Estate [Member] | |||||||
Schedule of changes in allowance for loan losses | |||||||
Loans and Leases Receivable, Collateral for Secured Borrowings | 0 | 0 | |||||
Real Estate Construction and Land Development | Five or More Family Residential and Commercial Properties [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, Allowance for Credit Losses, Effect of Change in Method | 7,240 | ||||||
Financing Receivable, Allowance for Credit Loss, Writeoff | 0 | 0 | |||||
Schedule of changes in allowance for loan losses | |||||||
Beginning Balance | 1,605 | 11,444 | 995 | 1,605 | 954 | ||
Recoveries | 0 | 0 | |||||
Recoveries | 0 | 0 | |||||
Provision for Credit Losses | (2,887) | 65 | (288) | 106 | |||
Ending Balance | 8,845 | 1,060 | 1,060 | ||||
Allowance for credit losses on loans | 8,557 | 8,557 | |||||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | |||||
Consumer Portfolio Segment [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, Allowance for Credit Losses, Effect of Change in Method | (2,484) | ||||||
Financing Receivable, Allowance for Credit Loss, Writeoff | (431) | (806) | |||||
Schedule of changes in allowance for loan losses | |||||||
Beginning Balance | 6,821 | 4,340 | 6,480 | 6,821 | 6,581 | ||
Recoveries | (197) | (291) | |||||
Recoveries | 130 | 247 | |||||
Provision for Credit Losses | 5,606 | 496 | 5,890 | 864 | |||
Ending Balance | 4,337 | 6,540 | 6,540 | ||||
Allowance for credit losses on loans | 9,712 | 9,712 | |||||
Allowance for Loan and Lease Losses, Write-offs | (566) | (1,152) | |||||
Financing Receivable, Allowance for Credit Loss, Writeoff Net | 806 | ||||||
Unallocated | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, Allowance for Credit Losses, Effect of Change in Method | (899) | ||||||
Financing Receivable, Allowance for Credit Loss, Writeoff | |||||||
Schedule of changes in allowance for loan losses | |||||||
Beginning Balance | 899 | 1,172 | 899 | 1,353 | |||
Recoveries | |||||||
Recoveries | 0 | 0 | |||||
Provision for Credit Losses | (348) | 0 | (529) | ||||
Ending Balance | $ 0 | 824 | 824 | ||||
Allowance for credit losses on loans | 0 | 0 | |||||
Allowance for Loan and Lease Losses, Write-offs | $ 0 | $ 0 | |||||
Total Allowance for Credit Losses [Member] | |||||||
Schedule of changes in allowance for loan losses | |||||||
Allowance for credit losses on loans | $ 71,501 | $ 71,501 | |||||
Unemployment Rate [Member] | |||||||
Schedule of changes in allowance for loan losses | |||||||
Current Expected Credit Losses Model Valuation Input | 1300.00% | ||||||
Unemployment Rate [Member] | Forecast [Member] | |||||||
Schedule of changes in allowance for loan losses | |||||||
Current Expected Credit Losses Model Valuation Input | 500.00% | ||||||
COVID-19 [Member] | |||||||
Schedule of changes in allowance for loan losses | |||||||
Current Expected Credit Losses Model Valuation Input | 610.00% | ||||||
COVID-19 [Member] | Forecast [Member] | |||||||
Schedule of changes in allowance for loan losses | |||||||
Current Expected Credit Losses Model Valuation Input | 630.00% |
Allowance for Loan Losses - Act
Allowance for Loan Losses - Activity in Allowance for Losses Disaggregated on Basis of Impairment (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||||||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | Mar. 31, 2020 | Jan. 01, 2020 | Dec. 31, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||||
Financing Receivable, Allowance for Credit Loss, Writeoff | $ 2,255 | $ 3,852 | |||||||
Impaired Financing Receivable, Recorded Investment | $ 57,481 | ||||||||
Schedule of allowance for loan losses on the basis of impairment method | |||||||||
Loans Individually Evaluated for Impairment | 2,143 | ||||||||
Loans Collectively Evaluated for Impairment | 31,759 | ||||||||
PCI Loans | 2,269 | ||||||||
Total Allowance for Credit Losses | $ 36,363 | $ 36,363 | $ 47,540 | $ 37,993 | 36,171 | $ 36,152 | $ 35,042 | ||
Financing Receivable, Allowance for Credit Loss, Recovery | 275 | 1,455 | |||||||
Financing Receivable, Allowance for Credit Loss, Writeoff Net | 2,400 | ||||||||
Allowance for Loan and Lease Losses, Write-offs | (1,355) | (2,059) | |||||||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 199 | 1,093 | |||||||
Provision for credit losses | 25,941 | 1,367 | 35,905 | 2,287 | |||||
Commercial and Industrial [Member] | |||||||||
Schedule of allowance for loan losses on the basis of impairment method | |||||||||
Financing Receivable, Allowance for Credit Loss, Writeoff Net | 1,700 | ||||||||
Commercial Portfolio Segment [Member] | |||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||||
Financing Receivable, Allowance for Credit Loss, Writeoff | 1,824 | 3,046 | |||||||
Impaired Financing Receivable, Recorded Investment | 56,468 | ||||||||
Schedule of allowance for loan losses on the basis of impairment method | |||||||||
Loans Individually Evaluated for Impairment | 1,944 | ||||||||
Loans Collectively Evaluated for Impairment | 20,394 | ||||||||
PCI Loans | 1,595 | ||||||||
Total Allowance for Credit Losses | 25,123 | 25,123 | 27,866 | 20,998 | 23,933 | 24,836 | 23,711 | ||
Financing Receivable, Allowance for Credit Loss, Recovery | 71 | 1,140 | |||||||
Financing Receivable, Allowance for Credit Loss, Writeoff Net | 963 | ||||||||
Allowance for Loan and Lease Losses, Write-offs | (774) | (877) | |||||||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 62 | 221 | |||||||
Provision for credit losses | 24,329 | 999 | 31,350 | 2,068 | |||||
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||||
Financing Receivable, Allowance for Credit Loss, Writeoff | 1,824 | 2,911 | |||||||
Impaired Financing Receivable, Recorded Investment | 43,808 | ||||||||
Schedule of allowance for loan losses on the basis of impairment method | |||||||||
Loans Individually Evaluated for Impairment | 1,372 | ||||||||
Loans Collectively Evaluated for Impairment | 9,772 | ||||||||
PCI Loans | 595 | ||||||||
Total Allowance for Credit Losses | 11,993 | 11,993 | 13,900 | 10,391 | 11,739 | 11,755 | 11,343 | ||
Financing Receivable, Allowance for Credit Loss, Recovery | 69 | 1,126 | |||||||
Allowance for Loan and Lease Losses, Write-offs | (774) | (877) | |||||||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 62 | 69 | |||||||
Provision for credit losses | 17,628 | 950 | 21,167 | 1,458 | |||||
Commercial Portfolio Segment [Member] | Owner Occupied Commercial Real Estate [Member] | |||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||||
Financing Receivable, Allowance for Credit Loss, Writeoff | 0 | 135 | |||||||
Impaired Financing Receivable, Recorded Investment | 6,336 | ||||||||
Schedule of allowance for loan losses on the basis of impairment method | |||||||||
Loans Individually Evaluated for Impairment | 426 | ||||||||
Loans Collectively Evaluated for Impairment | 3,558 | ||||||||
PCI Loans | 528 | ||||||||
Total Allowance for Credit Losses | 5,066 | 5,066 | 6,216 | 4,964 | 4,512 | 5,256 | 4,898 | ||
Financing Receivable, Allowance for Credit Loss, Recovery | 2 | 14 | |||||||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | |||||||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | 3 | |||||||
Provision for credit losses | 3,785 | (190) | 5,160 | 165 | |||||
Commercial Portfolio Segment [Member] | Non Owner Occupied Commercial Real Estate [Member] | |||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||||
Financing Receivable, Allowance for Credit Loss, Writeoff | 0 | 0 | |||||||
Impaired Financing Receivable, Recorded Investment | 6,324 | ||||||||
Schedule of allowance for loan losses on the basis of impairment method | |||||||||
Loans Individually Evaluated for Impairment | 146 | ||||||||
Loans Collectively Evaluated for Impairment | 7,064 | ||||||||
PCI Loans | 472 | ||||||||
Total Allowance for Credit Losses | 8,064 | 8,064 | 7,750 | 5,643 | 7,682 | 7,825 | 7,470 | ||
Financing Receivable, Allowance for Credit Loss, Recovery | 0 | 0 | |||||||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | |||||||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | 149 | |||||||
Provision for credit losses | 2,916 | 239 | 5,023 | 445 | |||||
Residential Portfolio Segment [Member] | |||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||||
Financing Receivable, Allowance for Credit Loss, Writeoff | 0 | 0 | |||||||
Impaired Financing Receivable, Recorded Investment | 215 | ||||||||
Schedule of allowance for loan losses on the basis of impairment method | |||||||||
Loans Individually Evaluated for Impairment | 56 | ||||||||
Loans Collectively Evaluated for Impairment | 1,316 | ||||||||
PCI Loans | 86 | ||||||||
Total Allowance for Credit Losses | 1,345 | 1,345 | 3,026 | 2,929 | 1,458 | 1,247 | 1,203 | ||
Financing Receivable, Allowance for Credit Loss, Recovery | 0 | 3 | |||||||
Allowance for Loan and Lease Losses, Write-offs | (15) | (30) | |||||||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | 0 | |||||||
Provision for credit losses | (803) | 113 | (709) | 172 | |||||
Real Estate Construction and Land Development | |||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||||
Financing Receivable, Allowance for Credit Loss, Writeoff | 0 | 0 | |||||||
Schedule of allowance for loan losses on the basis of impairment method | |||||||||
Loans Individually Evaluated for Impairment | 0 | ||||||||
Loans Collectively Evaluated for Impairment | 2,823 | ||||||||
PCI Loans | 237 | ||||||||
Total Allowance for Credit Losses | 2,531 | 2,531 | 12,308 | 9,729 | 3,060 | 2,417 | 2,194 | ||
Financing Receivable, Allowance for Credit Loss, Recovery | 7 | 21 | |||||||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | |||||||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 7 | 625 | |||||||
Provision for credit losses | (3,191) | 107 | (626) | (288) | |||||
Real Estate Construction and Land Development | One-to-four Family Real Estate Construction | |||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||||
Financing Receivable, Allowance for Credit Loss, Writeoff | 0 | 0 | |||||||
Impaired Financing Receivable, Recorded Investment | 237 | ||||||||
Schedule of allowance for loan losses on the basis of impairment method | |||||||||
Loans Individually Evaluated for Impairment | 0 | ||||||||
Loans Collectively Evaluated for Impairment | 1,296 | ||||||||
PCI Loans | 159 | ||||||||
Total Allowance for Credit Losses | 1,471 | 1,471 | 864 | 884 | 1,455 | 1,422 | 1,240 | ||
Financing Receivable, Allowance for Credit Loss, Recovery | 7 | 21 | |||||||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | |||||||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 7 | 625 | |||||||
Provision for credit losses | (304) | 42 | (338) | (394) | |||||
Real Estate Construction and Land Development | Five or More Family Residential and Commercial Properties [Member] | |||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||||
Financing Receivable, Allowance for Credit Loss, Writeoff | 0 | 0 | |||||||
Schedule of allowance for loan losses on the basis of impairment method | |||||||||
Loans Individually Evaluated for Impairment | 0 | ||||||||
Loans Collectively Evaluated for Impairment | 1,527 | ||||||||
PCI Loans | 78 | ||||||||
Total Allowance for Credit Losses | 1,060 | 1,060 | 11,444 | 8,845 | 1,605 | 995 | 954 | ||
Financing Receivable, Allowance for Credit Loss, Recovery | 0 | 0 | |||||||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | |||||||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | 0 | |||||||
Provision for credit losses | (2,887) | 65 | (288) | 106 | |||||
Consumer Portfolio Segment [Member] | |||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||||
Financing Receivable, Allowance for Credit Loss, Writeoff | 431 | 806 | |||||||
Impaired Financing Receivable, Recorded Investment | 561 | ||||||||
Schedule of allowance for loan losses on the basis of impairment method | |||||||||
Loans Individually Evaluated for Impairment | 143 | ||||||||
Loans Collectively Evaluated for Impairment | 6,327 | ||||||||
PCI Loans | 351 | ||||||||
Total Allowance for Credit Losses | 6,540 | 6,540 | $ 4,340 | 4,337 | 6,821 | 6,480 | 6,581 | ||
Financing Receivable, Allowance for Credit Loss, Recovery | 197 | 291 | |||||||
Financing Receivable, Allowance for Credit Loss, Writeoff Net | 806 | ||||||||
Allowance for Loan and Lease Losses, Write-offs | (566) | (1,152) | |||||||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 130 | 247 | |||||||
Provision for credit losses | $ 5,606 | 496 | 5,890 | 864 | |||||
Unallocated | |||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||||
Financing Receivable, Allowance for Credit Loss, Writeoff | |||||||||
Schedule of allowance for loan losses on the basis of impairment method | |||||||||
Loans Individually Evaluated for Impairment | 0 | ||||||||
Loans Collectively Evaluated for Impairment | 899 | ||||||||
PCI Loans | 0 | ||||||||
Total Allowance for Credit Losses | 824 | 824 | $ 0 | $ 899 | $ 1,172 | $ 1,353 | |||
Financing Receivable, Allowance for Credit Loss, Recovery | |||||||||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | |||||||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | 0 | |||||||
Provision for credit losses | $ (348) | $ 0 | $ (529) |
Allowance for Loan Losses - Rec
Allowance for Loan Losses - Recorded Investment Disaggregated on Basis of Impairment (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||||||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | Mar. 31, 2020 | Jan. 01, 2020 | Dec. 31, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||||
Loans and Leases Receivable, Allowance | $ 36,363 | $ 36,363 | $ 47,540 | $ 37,993 | $ 36,171 | $ 36,152 | $ 35,042 | ||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 2,143 | ||||||||
Financing Receivable, Individually Evaluated for Impairment | 57,481 | ||||||||
Impaired Financing Receivable, Recorded Investment | 57,481 | ||||||||
Schedule of loan receivables on the basis of impairment method | |||||||||
Loans Collectively Evaluated for Impairment | 3,692,288 | ||||||||
Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Carrying Amount | 18,110 | ||||||||
Total Gross Loans Receivable | $ 4,666,333 | $ 4,666,333 | 3,767,879 | ||||||
Allowance for Loan and Lease Losses, Write-offs | 1,355 | 2,059 | |||||||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 199 | 1,093 | |||||||
Provision for credit losses | 25,941 | 1,367 | 35,905 | 2,287 | |||||
Commercial Portfolio Segment [Member] | |||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||||
Loans and Leases Receivable, Allowance | 25,123 | 25,123 | 27,866 | 20,998 | 23,933 | 24,836 | 23,711 | ||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 1,944 | ||||||||
Financing Receivable, Individually Evaluated for Impairment | 56,468 | ||||||||
Impaired Financing Receivable, Recorded Investment | 56,468 | ||||||||
Schedule of loan receivables on the basis of impairment method | |||||||||
Loans Collectively Evaluated for Impairment | 2,876,992 | ||||||||
Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Carrying Amount | 12,773 | ||||||||
Total Gross Loans Receivable | 3,839,785 | 3,839,785 | 2,946,233 | ||||||
Allowance for Loan and Lease Losses, Write-offs | 774 | 877 | |||||||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 62 | 221 | |||||||
Provision for credit losses | 24,329 | 999 | 31,350 | 2,068 | |||||
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||||
Loans and Leases Receivable, Allowance | 11,993 | 11,993 | 13,900 | 10,391 | 11,739 | 11,755 | 11,343 | ||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 1,372 | ||||||||
Financing Receivable, Individually Evaluated for Impairment | 43,808 | ||||||||
Impaired Financing Receivable, Recorded Investment | 43,808 | ||||||||
Schedule of loan receivables on the basis of impairment method | |||||||||
Loans Collectively Evaluated for Impairment | 806,044 | ||||||||
Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Carrying Amount | 2,368 | ||||||||
Total Gross Loans Receivable | 793,217 | 793,217 | 852,220 | ||||||
Allowance for Loan and Lease Losses, Write-offs | 774 | 877 | |||||||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 62 | 69 | |||||||
Provision for credit losses | 17,628 | 950 | 21,167 | 1,458 | |||||
Commercial Portfolio Segment [Member] | Owner Occupied Commercial Real Estate [Member] | |||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||||
Loans and Leases Receivable, Allowance | 5,066 | 5,066 | 6,216 | 4,964 | 4,512 | 5,256 | 4,898 | ||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 426 | ||||||||
Financing Receivable, Individually Evaluated for Impairment | 6,336 | ||||||||
Impaired Financing Receivable, Recorded Investment | 6,336 | ||||||||
Schedule of loan receivables on the basis of impairment method | |||||||||
Loans Collectively Evaluated for Impairment | 793,984 | ||||||||
Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Carrying Amount | 4,914 | ||||||||
Total Gross Loans Receivable | 838,303 | 838,303 | 805,234 | ||||||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | |||||||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | 3 | |||||||
Provision for credit losses | 3,785 | (190) | 5,160 | 165 | |||||
Commercial Portfolio Segment [Member] | Non Owner Occupied Commercial Real Estate [Member] | |||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||||
Loans and Leases Receivable, Allowance | 8,064 | 8,064 | 7,750 | 5,643 | 7,682 | 7,825 | 7,470 | ||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 146 | ||||||||
Financing Receivable, Individually Evaluated for Impairment | 6,324 | ||||||||
Impaired Financing Receivable, Recorded Investment | 6,324 | ||||||||
Schedule of loan receivables on the basis of impairment method | |||||||||
Loans Collectively Evaluated for Impairment | 1,276,964 | ||||||||
Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Carrying Amount | 5,491 | ||||||||
Total Gross Loans Receivable | 1,351,775 | 1,351,775 | 1,288,779 | ||||||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | |||||||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | 149 | |||||||
Provision for credit losses | 2,916 | 239 | 5,023 | 445 | |||||
Residential Portfolio Segment [Member] | |||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||||
Loans and Leases Receivable, Allowance | 1,345 | 1,345 | 3,026 | 2,929 | 1,458 | 1,247 | 1,203 | ||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 56 | ||||||||
Financing Receivable, Individually Evaluated for Impairment | 215 | ||||||||
Impaired Financing Receivable, Recorded Investment | 215 | ||||||||
Schedule of loan receivables on the basis of impairment method | |||||||||
Loans Collectively Evaluated for Impairment | 127,870 | ||||||||
Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Carrying Amount | 3,575 | ||||||||
Total Gross Loans Receivable | 132,546 | 132,546 | 131,660 | ||||||
Allowance for Loan and Lease Losses, Write-offs | 15 | 30 | |||||||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | 0 | |||||||
Provision for credit losses | (803) | 113 | (709) | 172 | |||||
Real Estate Construction and Land Development | |||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||||
Loans and Leases Receivable, Allowance | 2,531 | 2,531 | 12,308 | 9,729 | 3,060 | 2,417 | 2,194 | ||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 0 | ||||||||
Financing Receivable, Individually Evaluated for Impairment | 237 | ||||||||
Schedule of loan receivables on the basis of impairment method | |||||||||
Loans Collectively Evaluated for Impairment | 274,409 | ||||||||
Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Carrying Amount | 0 | ||||||||
Total Gross Loans Receivable | 305,984 | 305,984 | 274,646 | ||||||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | |||||||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 7 | 625 | |||||||
Provision for credit losses | (3,191) | 107 | (626) | (288) | |||||
Real Estate Construction and Land Development | One-to-four Family Real Estate Construction | |||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||||
Loans and Leases Receivable, Allowance | 1,471 | 1,471 | 864 | 884 | 1,455 | 1,422 | 1,240 | ||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 0 | ||||||||
Financing Receivable, Individually Evaluated for Impairment | 237 | ||||||||
Impaired Financing Receivable, Recorded Investment | 237 | ||||||||
Schedule of loan receivables on the basis of impairment method | |||||||||
Loans Collectively Evaluated for Impairment | 104,059 | ||||||||
Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Carrying Amount | 0 | ||||||||
Total Gross Loans Receivable | 108,821 | 108,821 | 104,296 | ||||||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | |||||||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 7 | 625 | |||||||
Provision for credit losses | (304) | 42 | (338) | (394) | |||||
Real Estate Construction and Land Development | Five or More Family Residential and Commercial Properties [Member] | |||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||||
Loans and Leases Receivable, Allowance | 1,060 | 1,060 | 11,444 | 8,845 | 1,605 | 995 | 954 | ||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 0 | ||||||||
Financing Receivable, Individually Evaluated for Impairment | 0 | ||||||||
Schedule of loan receivables on the basis of impairment method | |||||||||
Loans Collectively Evaluated for Impairment | 170,350 | ||||||||
Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Carrying Amount | 0 | ||||||||
Total Gross Loans Receivable | 197,163 | 197,163 | 170,350 | ||||||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | |||||||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | 0 | |||||||
Provision for credit losses | (2,887) | 65 | (288) | 106 | |||||
Consumer Portfolio Segment [Member] | |||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||||
Loans and Leases Receivable, Allowance | 6,540 | 6,540 | $ 4,340 | 4,337 | 6,821 | 6,480 | 6,581 | ||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 143 | ||||||||
Financing Receivable, Individually Evaluated for Impairment | 561 | ||||||||
Impaired Financing Receivable, Recorded Investment | 561 | ||||||||
Schedule of loan receivables on the basis of impairment method | |||||||||
Loans Collectively Evaluated for Impairment | 413,017 | ||||||||
Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Carrying Amount | 1,762 | ||||||||
Total Gross Loans Receivable | 388,018 | 388,018 | 415,340 | ||||||
Allowance for Loan and Lease Losses, Write-offs | 566 | 1,152 | |||||||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 130 | 247 | |||||||
Provision for credit losses | $ 5,606 | 496 | 5,890 | 864 | |||||
Unallocated | |||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||||
Loans and Leases Receivable, Allowance | 824 | 824 | $ 0 | 899 | $ 1,172 | $ 1,353 | |||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | $ 0 | ||||||||
Schedule of loan receivables on the basis of impairment method | |||||||||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | |||||||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | 0 | |||||||
Provision for credit losses | $ (348) | $ 0 | $ (529) |
Other Real Estate Owned (Detail
Other Real Estate Owned (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Changes in other real estate owned | ||||
Balance at the beginning of the period | $ 841 | $ 1,904 | $ 841 | $ 1,983 |
Additions | 0 | 0 | 270 | 0 |
Proceeds from dispositions | (1,024) | (350) | (1,290) | (429) |
Gain (loss) on sales, net | 183 | (279) | 179 | (279) |
Balance at the end of the period | 0 | 1,224 | 0 | 1,224 |
Other Real Estate, Valuation Adjustments | 0 | $ (51) | 0 | $ (51) |
Other Real Estate, Foreclosed Assets, and Repossessed Assets | $ 0 | $ 0 |
Goodwill and Other Intangible_3
Goodwill and Other Intangible Assets - Change in Goodwill (Details) | 6 Months Ended |
Jun. 30, 2020USD ($) | |
Goodwill [Roll Forward] | |
Balance at the beginning of the period | $ 240,939,000 |
Balance at the end of the period | 240,939,000 |
Goodwill, Impairment Loss | $ 0 |
Goodwill and Other Intangible_4
Goodwill and Other Intangible Assets - Other Intangible Assets, Textual (Details) - Core Deposits | 6 Months Ended |
Jun. 30, 2020 | |
Premier Commercial Bancorp | |
Finite-Lived Intangible Assets [Line Items] | |
Useful life | 10 years |
Puget Sound Bancorp | |
Finite-Lived Intangible Assets [Line Items] | |
Useful life | 10 years |
Washington Banking Company | |
Finite-Lived Intangible Assets [Line Items] | |
Useful life | 10 years |
Valley Community Bancshares | |
Finite-Lived Intangible Assets [Line Items] | |
Useful life | 10 years |
Goodwill and Other Intangible_5
Goodwill and Other Intangible Assets - Change in Other Intangible Assets (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Finite-lived Intangible Assets [Roll Forward] | ||||
Balance at the beginning of the period | $ 15,710 | $ 19,589 | $ 16,613 | $ 20,614 |
Amortization | (903) | (1,026) | (1,806) | (2,051) |
Balance at the end of the period | $ 14,807 | $ 18,563 | $ 14,807 | $ 18,563 |
Junior Subordinated Debenture_2
Junior Subordinated Debentures (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | Dec. 31, 2019 | May 01, 2014 | |
Debt Instrument [Line Items] | ||||||
Junior subordinated debentures | $ 20,741 | $ 20,741 | $ 20,595 | |||
Adjustable rate of trust preferred securities | 1.86% | 1.86% | ||||
Junior Subordinated Debentures | ||||||
Debt Instrument [Line Items] | ||||||
Weighted average rate | 4.24% | 6.68% | 4.90% | 6.87% | ||
Washington Banking | ||||||
Debt Instrument [Line Items] | ||||||
Assumed trust preferred securities and junior subordinated debentures, fair value | $ 18,900 |
Securities Sold Under Agreeme_3
Securities Sold Under Agreement to Repurchase (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | Dec. 31, 2019 | |
Disclosure of Repurchase Agreements [Abstract] | |||||
Repurchase agreements, maturity period | 1 day | ||||
Financial Instruments Owned and Pledged as Collateral [Line Items] | |||||
Repurchase agreement obligations | $ 24,444 | $ 24,444 | $ 20,169 | ||
Average balance during the period | 4,909 | $ 42,101 | 2,949 | $ 22,086 | |
Maximum month-end balance during the period | $ 0 | $ 90,700 | $ 0 | $ 90,700 | |
Weighted average rate during the period | 0.57% | 2.65% | 0.55% | 2.68% | |
Residential | |||||
Financial Instruments Owned and Pledged as Collateral [Line Items] | |||||
Repurchase agreement obligations | $ 862 | $ 862 | 8,452 | ||
Commercial | |||||
Financial Instruments Owned and Pledged as Collateral [Line Items] | |||||
Repurchase agreement obligations | $ 23,582 | $ 23,582 | $ 11,717 |
Other Borrowings - Textual (Det
Other Borrowings - Textual (Details) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | Dec. 31, 2019 | |
Federal Home Loan Bank, Advances [Line Items] | |||||
Average balance during the period | $ 4,909,000 | $ 42,101,000 | $ 2,949,000 | $ 22,086,000 | |
Maximum month-end balance during the period | $ 0 | $ 90,700,000 | $ 0 | $ 90,700,000 | |
Weighted average rate during the period | 0.57% | 2.65% | 0.55% | 2.68% | |
Credit facility with the FHLB | $ 942,800,000 | $ 942,800,000 | $ 942,800,000 | ||
FHLB advances outstanding | 0 | 0 | 0 | ||
Maximum federal funds purchases | 215,000,000 | ||||
Federal funds purchased | 0 | 0 | 0 | ||
Federal Reserve Bank Advances | |||||
Federal Home Loan Bank, Advances [Line Items] | |||||
Credit facility with the Federal Reserve Bank of San Francisco | 60,300,000 | 60,300,000 | |||
Borrowings outstanding | 0 | 0 | $ 0 | ||
PPPLF Facility [Member] | |||||
Federal Home Loan Bank, Advances [Line Items] | |||||
Borrowings outstanding | $ 0 | $ 0 | |||
Minimum | |||||
Federal Home Loan Bank, Advances [Line Items] | |||||
Unencumbered collateral in amount equal to varying percentages | 100.00% | ||||
Maximum | |||||
Federal Home Loan Bank, Advances [Line Items] | |||||
Unencumbered collateral in amount equal to varying percentages | 160.00% |
Other Borrowings - Federal Fund
Other Borrowings - Federal Funds Purchased (Details) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | Dec. 31, 2019 | |
Debt Disclosure [Abstract] | |||||
Federal Funds Purchased | $ 0 | $ 0 | $ 0 | ||
Average balance during the period | 4,909,000 | $ 42,101,000 | 2,949,000 | $ 22,086,000 | |
Maximum month-end balance during the period | $ 0 | $ 90,700,000 | $ 0 | $ 90,700,000 | |
Weighted average rate during the period | 0.57% | 2.65% | 0.55% | 2.68% |
Derivative Financial Instrume_3
Derivative Financial Instruments (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Customers | ||
Derivative Asset | ||
Estimated Fair Value | $ 31,600 | |
Derivative Liability | ||
Estimated Fair Value | $ 8,100 | |
Third Parties | ||
Derivative Asset | ||
Estimated Fair Value | (8,100) | |
Derivative Liability | ||
Estimated Fair Value | (31,600) | |
Interest rate swap | ||
Derivative Asset | ||
Estimated Fair Value | 31,618 | |
Derivative Liability | ||
Estimated Fair Value | 31,618 | |
Interest rate swap | Non-hedging interest rate derivatives | ||
Derivative Asset | ||
Notional Amounts | 271,348 | 221,436 |
Estimated Fair Value | 8,318 | |
Derivative Liability | ||
Notional Amounts | $ 271,348 | 221,436 |
Estimated Fair Value | $ 8,318 |
Stockholders' Equity - Reconcil
Stockholders' Equity - Reconciliation of Weighted Average Shares (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Stockholders' Equity Note [Abstract] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 258,412 | 89,507 | 124,904 | 61,333 |
Net (loss) income: | ||||
Net (loss) income | $ (6,139) | $ 15,984 | $ 6,052 | $ 32,536 |
Dividends and undistributed earnings allocated to participating securities (1) | 0 | (11) | (3) | (38) |
Net (loss) income allocated to common shareholders | $ (6,139) | $ 15,973 | $ 6,049 | $ 32,498 |
Basic: | ||||
Weighted average common shares outstanding (in shares) | 35,899,361 | 36,895,625 | 36,128,586 | 36,888,601 |
Less: Restricted stock awards (in shares) | (645) | (25,466) | (8,183) | (40,632) |
Total basic weighted average common shares outstanding (in shares) | 35,898,716 | 36,870,159 | 36,120,403 | 36,847,969 |
Diluted: | ||||
Basic weighted average common shares outstanding (in shares) | 35,898,716 | 36,870,159 | 36,120,403 | 36,847,969 |
Effect of potentially dilutive common shares (in shares) | 0 | 144,714 | 154,988 | 163,767 |
Total diluted weighted average common shares outstanding (in shares) | 35,898,716 | 37,014,873 | 36,275,391 | 37,011,736 |
Stockholders' Equity - Dividend
Stockholders' Equity - Dividends (Details) - $ / shares | Apr. 29, 2020 | Jan. 22, 2020 | Oct. 23, 2019 | Jul. 24, 2019 | Apr. 24, 2019 | Jan. 23, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 |
Dividends Payable [Line Items] | ||||||||||
Declared | Apr. 29, 2020 | Jan. 22, 2020 | Oct. 23, 2019 | Jul. 24, 2019 | Apr. 24, 2019 | Jan. 23, 2019 | ||||
Cash Dividend per Share (in usd per share) | $ 0.20 | $ 0.20 | $ 0.19 | $ 0.19 | $ 0.18 | $ 0.18 | $ 0.20 | $ 0.18 | $ 0.40 | $ 0.36 |
Record Date | May 13, 2020 | Feb. 6, 2020 | Nov. 7, 2019 | Aug. 8, 2019 | May 8, 2019 | Feb. 7, 2019 | ||||
Paid Date | May 27, 2020 | Feb. 20, 2020 | Nov. 21, 2019 | Aug. 22, 2019 | May 22, 2019 | Feb. 21, 2019 | ||||
Special Dividend | ||||||||||
Dividends Payable [Line Items] | ||||||||||
Declared | Oct. 23, 2019 | |||||||||
Cash Dividend per Share (in usd per share) | $ 0.10 | |||||||||
Record Date | Nov. 7, 2019 | |||||||||
Paid Date | Nov. 21, 2019 |
Stockholders' Equity - Stock Re
Stockholders' Equity - Stock Repurchase Program (Details) - $ / shares | Mar. 12, 2020 | Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | Mar. 16, 2020 |
Class of Stock [Line Items] | ||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 258,412 | 89,507 | 124,904 | 61,333 | ||
Stockholders Equity (Textual) [Abstract] | ||||||
Total Stock Repurchased During Period, Shares | 795,700 | |||||
Total Treasury Stock Acquired, Average Cost Per Share | $ 23.25 | |||||
Eleventh Stock Repurchase Plan | ||||||
Stockholders Equity (Textual) [Abstract] | ||||||
Number of shares repurchased (in shares) | 28,000 | 639,922 | 28,000 | |||
Withholding taxes average price per share (in usd per share) | $ 29.12 | $ 23.95 | $ 29.12 | |||
Twelfth Stock Repurchase Plan [Member] [Member] [Domain] | ||||||
Stockholders Equity (Textual) [Abstract] | ||||||
Outstanding share percent | 5.00% | |||||
Outstanding common shares in the plan (in shares) | 1,799,054 | |||||
Number of shares repurchased (in shares) | 155,778 | |||||
Withholding taxes average price per share (in usd per share) | $ 20.34 |
Stockholders' Equity - Shares R
Stockholders' Equity - Shares Repurchased (Details) - Shares Related to Withholding Taxes on the Vesting of Restricted Stock - $ / shares | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Equity, Class of Treasury Stock [Line Items] | ||||
Repurchased shares to pay withholding taxes (in shares) | 2,046 | 2,175 | 27,928 | 28,029 |
Stock repurchase to pay withholding taxes average share price (in usd per share) | $ 18.62 | $ 29.31 | $ 21.56 | $ 30.88 |
Accumulated Other Comprehensi_3
Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | Jan. 01, 2020 | Jan. 01, 2019 | |
Increase (Decrease) in Accumulated Other Comprehensive (Loss) Income [Roll Forward] | ||||||
Beginning balance | $ 798,438 | $ 778,191 | $ 809,311 | $ 760,723 | ||
Other comprehensive income | 7,689 | 9,193 | 15,603 | 17,209 | ||
Effects of implementation of accounting change related to operating leases | $ (5,615) | $ (399) | ||||
Ending balance | 793,652 | 796,625 | 793,652 | 796,625 | ||
Accumulated other comprehensive income (loss), net | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Other Comprehensive Income (Loss), Securities, Available-for-Sale, Unrealized Holding Gain (Loss) Arising During Period, after Tax | 8,009 | 9,219 | 16,716 | 17,247 | ||
Increase (Decrease) in Accumulated Other Comprehensive (Loss) Income [Roll Forward] | ||||||
Beginning balance | 18,292 | 561 | 10,378 | (7,455) | ||
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax | 320 | 26 | 1,113 | 38 | ||
Other comprehensive income | 7,689 | 9,193 | 15,603 | 17,209 | ||
Effects of implementation of accounting change related to operating leases | 0 | 0 | $ 0 | |||
Ending balance | $ 25,981 | $ 9,754 | $ 25,981 | $ 9,754 |
Fair Value Measurements - Fair
Fair Value Measurements - Fair Value Measurement on Recurring Basis (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||||||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | Mar. 31, 2020 | Jan. 01, 2020 | Dec. 31, 2019 | Mar. 31, 2019 | Jan. 01, 2019 | Dec. 31, 2018 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||||||
Total investment securities available for sale | $ 879,927 | $ 879,927 | $ 952,312 | |||||||
Other comprehensive income (loss), net of tax | (7,689) | $ (9,193) | (15,603) | $ (17,209) | ||||||
Cumulative Effect of New Accounting Principle in Period of Adoption | $ (5,615) | $ (399) | ||||||||
Stockholders' Equity Attributable to Parent | 793,652 | 796,625 | 793,652 | 796,625 | $ 798,438 | 809,311 | $ 778,191 | $ 760,723 | ||
AOCI Attributable to Parent [Member] | ||||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||||||
Other comprehensive income (loss), net of tax | (7,689) | (9,193) | (15,603) | (17,209) | ||||||
Cumulative Effect of New Accounting Principle in Period of Adoption | 0 | 0 | $ 0 | |||||||
Stockholders' Equity Attributable to Parent | 25,981 | $ 9,754 | 25,981 | $ 9,754 | $ 18,292 | 10,378 | $ 561 | $ (7,455) | ||
U.S. Treasury and U.S. Government-sponsored agencies | ||||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||||||
Total investment securities available for sale | 52,051 | 52,051 | 105,223 | |||||||
Municipal securities | ||||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||||||
Total investment securities available for sale | 193,931 | 193,931 | 133,014 | |||||||
Residential | ||||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||||||
Total investment securities available for sale | 339,608 | |||||||||
Commercial | ||||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||||||
Total investment securities available for sale | 327,095 | |||||||||
Corporate obligations | ||||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||||||
Total investment securities available for sale | 24,194 | |||||||||
Other asset-backed securities | ||||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||||||
Total investment securities available for sale | 23,178 | |||||||||
Level 2 | Residential | ||||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||||||
Total investment securities available for sale | 268,984 | 268,984 | ||||||||
Level 2 | Commercial | ||||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||||||
Total investment securities available for sale | 318,341 | 318,341 | ||||||||
Level 2 | Corporate obligations | ||||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||||||
Total investment securities available for sale | 24,249 | 24,249 | ||||||||
Level 2 | Other asset-backed securities | ||||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||||||
Total investment securities available for sale | 22,371 | 22,371 | ||||||||
Recurring | ||||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||||||
Total investment securities available for sale | 952,312 | |||||||||
Equity security | 112 | 112 | 148 | |||||||
Recurring | U.S. Treasury and U.S. Government-sponsored agencies | ||||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||||||
Total investment securities available for sale | 52,051 | 52,051 | 105,223 | |||||||
Recurring | Municipal securities | ||||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||||||
Total investment securities available for sale | 193,931 | 193,931 | 133,014 | |||||||
Recurring | Residential | ||||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||||||
Total investment securities available for sale | 268,984 | 268,984 | 339,608 | |||||||
Recurring | Commercial | ||||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||||||
Total investment securities available for sale | 318,341 | 318,341 | 327,095 | |||||||
Recurring | Corporate obligations | ||||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||||||
Total investment securities available for sale | 24,249 | 24,249 | 24,194 | |||||||
Recurring | Other asset-backed securities | ||||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||||||
Total investment securities available for sale | 22,371 | 22,371 | 23,178 | |||||||
Recurring | Interest rate swap | ||||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||||||
Derivative assets - interest rate swaps | 31,618 | 31,618 | 8,318 | |||||||
Derivative liabilities - interest rate swaps | 31,618 | 31,618 | 8,318 | |||||||
Recurring | Level 1 | ||||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||||||
Total investment securities available for sale | 0 | |||||||||
Equity security | 112 | 112 | 148 | |||||||
Recurring | Level 1 | U.S. Treasury and U.S. Government-sponsored agencies | ||||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||||||
Total investment securities available for sale | 0 | 0 | 0 | |||||||
Recurring | Level 1 | Municipal securities | ||||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||||||
Total investment securities available for sale | 0 | 0 | 0 | |||||||
Recurring | Level 1 | Residential | ||||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||||||
Total investment securities available for sale | 0 | 0 | 0 | |||||||
Recurring | Level 1 | Commercial | ||||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||||||
Total investment securities available for sale | 0 | 0 | 0 | |||||||
Recurring | Level 1 | Corporate obligations | ||||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||||||
Total investment securities available for sale | 0 | 0 | 0 | |||||||
Recurring | Level 1 | Other asset-backed securities | ||||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||||||
Total investment securities available for sale | 0 | 0 | 0 | |||||||
Recurring | Level 1 | Interest rate swap | ||||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||||||
Derivative assets - interest rate swaps | 0 | 0 | 0 | |||||||
Derivative liabilities - interest rate swaps | 0 | 0 | 0 | |||||||
Recurring | Level 2 | ||||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||||||
Total investment securities available for sale | 952,312 | |||||||||
Equity security | 0 | 0 | 0 | |||||||
Recurring | Level 2 | U.S. Treasury and U.S. Government-sponsored agencies | ||||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||||||
Total investment securities available for sale | 52,051 | 52,051 | 105,223 | |||||||
Recurring | Level 2 | Municipal securities | ||||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||||||
Total investment securities available for sale | 193,931 | 193,931 | 133,014 | |||||||
Recurring | Level 2 | Residential | ||||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||||||
Total investment securities available for sale | 339,608 | |||||||||
Recurring | Level 2 | Commercial | ||||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||||||
Total investment securities available for sale | 327,095 | |||||||||
Recurring | Level 2 | Corporate obligations | ||||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||||||
Total investment securities available for sale | 24,194 | |||||||||
Recurring | Level 2 | Other asset-backed securities | ||||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||||||
Total investment securities available for sale | 23,178 | |||||||||
Recurring | Level 2 | Interest rate swap | ||||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||||||
Derivative assets - interest rate swaps | 31,618 | 31,618 | 8,318 | |||||||
Derivative liabilities - interest rate swaps | 31,618 | 31,618 | 8,318 | |||||||
Recurring | Level 3 | ||||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||||||
Total investment securities available for sale | 0 | |||||||||
Investment securities available for sale | 0 | 0 | ||||||||
Equity security | 0 | 0 | 0 | |||||||
Recurring | Level 3 | U.S. Treasury and U.S. Government-sponsored agencies | ||||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||||||
Total investment securities available for sale | 0 | 0 | 0 | |||||||
Recurring | Level 3 | Municipal securities | ||||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||||||
Total investment securities available for sale | 0 | 0 | 0 | |||||||
Recurring | Level 3 | Residential | ||||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||||||
Total investment securities available for sale | 0 | 0 | 0 | |||||||
Recurring | Level 3 | Commercial | ||||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||||||
Total investment securities available for sale | 0 | 0 | 0 | |||||||
Recurring | Level 3 | Corporate obligations | ||||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||||||
Total investment securities available for sale | 0 | 0 | 0 | |||||||
Recurring | Level 3 | Other asset-backed securities | ||||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||||||
Total investment securities available for sale | 0 | 0 | 0 | |||||||
Recurring | Level 3 | Interest rate swap | ||||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||||||
Derivative assets - interest rate swaps | 0 | 0 | 0 | |||||||
Derivative liabilities - interest rate swaps | $ 0 | $ 0 | $ 0 |
Fair Value Measurements - Fai_2
Fair Value Measurements - Fair Value Measurement on Nonrecurring Basis (Details) - Nonrecurring - Impaired Loans - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | Dec. 31, 2019 | |
Fair value measurements of assets on a nonrecurring basis | |||||
Basis | $ 293 | $ 293 | $ 4,111 | ||
Fair Value | 270 | 270 | 3,380 | ||
Net Losses (Gains) Recorded in Earnings | 9 | $ 1 | 3 | $ 1 | |
Level 1 | |||||
Fair value measurements of assets on a nonrecurring basis | |||||
Fair Value | 0 | 0 | 0 | ||
Level 2 | |||||
Fair value measurements of assets on a nonrecurring basis | |||||
Fair Value | 0 | 0 | 0 | ||
Level 3 | |||||
Fair value measurements of assets on a nonrecurring basis | |||||
Fair Value | 270 | 270 | 3,380 | ||
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |||||
Fair value measurements of assets on a nonrecurring basis | |||||
Basis | 293 | 293 | 4,111 | ||
Fair Value | 270 | 270 | 3,380 | ||
Net Losses (Gains) Recorded in Earnings | 9 | $ 1 | 3 | $ 1 | |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Level 1 | |||||
Fair value measurements of assets on a nonrecurring basis | |||||
Fair Value | 0 | 0 | 0 | ||
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Level 2 | |||||
Fair value measurements of assets on a nonrecurring basis | |||||
Fair Value | 0 | 0 | 0 | ||
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Level 3 | |||||
Fair value measurements of assets on a nonrecurring basis | |||||
Fair Value | $ 270 | $ 270 | $ 3,380 |
Fair Value Measurements - Quant
Fair Value Measurements - Quantitative Information, Level 3 (Details) - Nonrecurring - Impaired Loans $ in Thousands | Jun. 30, 2020USD ($) | Dec. 31, 2019USD ($) |
Fair value measurements for financial instruments measured at fair value on a non-recurring basis | ||
Collateral-dependent loans | $ 270 | $ 3,380 |
Level 3 | ||
Fair value measurements for financial instruments measured at fair value on a non-recurring basis | ||
Collateral-dependent loans | $ 270 | $ 3,380 |
Level 3 | Minimum | Comparability Adjustment | ||
Fair value measurements for financial instruments measured at fair value on a non-recurring basis | ||
Range of Inputs | (18.5) | |
Level 3 | Maximum | Comparability Adjustment | ||
Fair value measurements for financial instruments measured at fair value on a non-recurring basis | ||
Range of Inputs | 173.5 | |
Level 3 | Weighted Average | Comparability Adjustment | ||
Fair value measurements for financial instruments measured at fair value on a non-recurring basis | ||
Range of Inputs | 36.8 |
Fair Value Measurements - Carry
Fair Value Measurements - Carrying Value and Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Carrying Value | ||
Financial Assets: | ||
Cash and cash equivalents | $ 415,075 | $ 228,568 |
Investment securities available for sale | 879,927 | 952,312 |
Loans held for sale | 3,783 | 5,533 |
Loans receivable, net | 4,594,832 | 3,731,708 |
Accrued interest receivable | 17,813 | 14,446 |
Derivative assets - interest rate swaps | 31,618 | 8,318 |
Equity security | 112 | 148 |
Financial Liabilities: | ||
Noninterest deposits, interest bearing demand deposits, money market accounts and savings accounts | 5,077,086 | 4,058,098 |
Certificate of deposit accounts | 490,647 | 524,578 |
Securities sold under agreement to repurchase | 24,444 | 20,169 |
Junior subordinated debentures | 20,741 | 20,595 |
Accrued interest payable | 124 | 199 |
Derivative liabilities - interest rate swaps | 31,618 | 8,318 |
Fair Value | ||
Financial Assets: | ||
Cash and cash equivalents | 415,075 | 228,568 |
Investment securities available for sale | 879,927 | 952,312 |
Loans held for sale | 3,908 | 5,704 |
Loans receivable, net | 4,762,913 | 3,791,557 |
Accrued interest receivable | 17,813 | 14,446 |
Derivative assets - interest rate swaps | 31,618 | 8,318 |
Equity security | 112 | 148 |
Financial Liabilities: | ||
Noninterest deposits, interest bearing demand deposits, money market accounts and savings accounts | 5,077,086 | 4,058,098 |
Certificate of deposit accounts | 494,093 | 529,679 |
Securities sold under agreement to repurchase | 24,444 | 20,169 |
Junior subordinated debentures | 18,000 | 20,000 |
Accrued interest payable | 124 | 199 |
Derivative liabilities - interest rate swaps | 31,618 | 8,318 |
Fair Value | Level 1 | ||
Financial Assets: | ||
Cash and cash equivalents | 415,075 | 228,568 |
Investment securities available for sale | 0 | 0 |
Loans held for sale | 0 | 0 |
Loans receivable, net | 0 | 0 |
Accrued interest receivable | 10 | 79 |
Derivative assets - interest rate swaps | 0 | 0 |
Equity security | 148 | |
Financial Liabilities: | ||
Noninterest deposits, interest bearing demand deposits, money market accounts and savings accounts | 5,077,086 | 4,058,098 |
Certificate of deposit accounts | 0 | 0 |
Securities sold under agreement to repurchase | 24,444 | 20,169 |
Junior subordinated debentures | 0 | 0 |
Accrued interest payable | 52 | 95 |
Derivative liabilities - interest rate swaps | 0 | 0 |
Fair Value | Level 2 | ||
Financial Assets: | ||
Cash and cash equivalents | 0 | 0 |
Investment securities available for sale | 879,927 | 952,312 |
Loans held for sale | 0 | 0 |
Loans receivable, net | 0 | 0 |
Accrued interest receivable | 3,887 | 3,668 |
Derivative assets - interest rate swaps | 31,618 | 8,318 |
Equity security | 0 | 0 |
Financial Liabilities: | ||
Noninterest deposits, interest bearing demand deposits, money market accounts and savings accounts | 0 | 0 |
Certificate of deposit accounts | 494,093 | 529,679 |
Securities sold under agreement to repurchase | 0 | 0 |
Junior subordinated debentures | 0 | 0 |
Accrued interest payable | 51 | 64 |
Derivative liabilities - interest rate swaps | 31,618 | 8,318 |
Fair Value | Level 3 | ||
Financial Assets: | ||
Cash and cash equivalents | 0 | 0 |
Investment securities available for sale | 0 | 0 |
Loans held for sale | 3,908 | 5,704 |
Loans receivable, net | 4,762,913 | 3,791,557 |
Accrued interest receivable | 13,916 | 10,699 |
Derivative assets - interest rate swaps | 0 | 0 |
Equity security | 0 | 0 |
Financial Liabilities: | ||
Noninterest deposits, interest bearing demand deposits, money market accounts and savings accounts | 0 | 0 |
Certificate of deposit accounts | 0 | 0 |
Securities sold under agreement to repurchase | 0 | 0 |
Junior subordinated debentures | 18,000 | 20,000 |
Accrued interest payable | 21 | 40 |
Derivative liabilities - interest rate swaps | $ 0 | $ 0 |
Cash Requirement (Details)
Cash Requirement (Details) - USD ($) $ in Millions | Jun. 30, 2020 | Dec. 31, 2019 |
Banking and Thrift [Abstract] | ||
Required reserve balance | $ 0 | $ 17.1 |
Commitments and Contingencies_2
Commitments and Contingencies (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||||||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | Mar. 31, 2020 | Jan. 01, 2020 | Dec. 31, 2019 | Mar. 31, 2019 | Jan. 01, 2019 | Dec. 31, 2018 | |
Other Commitments [Line Items] | ||||||||||
Provision for Loan, Lease, and Other Losses | $ 28,563 | $ 36,509 | $ 2,287 | |||||||
Unused Commitments to Extend Credit | 1,188,362 | 1,188,362 | $ 1,212,360 | |||||||
Cumulative Effect of New Accounting Principle in Period of Adoption | $ (5,615) | $ (399) | ||||||||
Unused Commitments to Extend Credit [Member] | ||||||||||
Other Commitments [Line Items] | ||||||||||
Provision for Loan, Lease, and Other Losses | 3,700 | |||||||||
Commercial Portfolio Segment [Member] | ||||||||||
Other Commitments [Line Items] | ||||||||||
Unused Commitments to Extend Credit | 676,091 | 676,091 | 637,053 | |||||||
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||||||||||
Other Commitments [Line Items] | ||||||||||
Unused Commitments to Extend Credit | 644,184 | 644,184 | 584,287 | |||||||
Commercial Portfolio Segment [Member] | Non Owner Occupied Commercial Real Estate [Member] | ||||||||||
Other Commitments [Line Items] | ||||||||||
Unused Commitments to Extend Credit | 22,296 | 22,296 | 35,573 | |||||||
Commercial Portfolio Segment [Member] | Owner Occupied Commercial Real Estate [Member] | ||||||||||
Other Commitments [Line Items] | ||||||||||
Unused Commitments to Extend Credit | 9,611 | 9,611 | 17,193 | |||||||
Real Estate Construction and Land Development [Member] | ||||||||||
Other Commitments [Line Items] | ||||||||||
Unused Commitments to Extend Credit | 256,794 | 256,794 | 305,409 | |||||||
Real Estate Construction and Land Development [Member] | One to Four Family Real Estate Construction [Member] | ||||||||||
Other Commitments [Line Items] | ||||||||||
Unused Commitments to Extend Credit | 63,144 | 63,144 | 75,066 | |||||||
Real Estate Construction and Land Development [Member] | Five or More Family Residential and Commercial Properties [Member] | ||||||||||
Other Commitments [Line Items] | ||||||||||
Unused Commitments to Extend Credit | 193,650 | 193,650 | 230,343 | |||||||
Consumer Portfolio Segment [Member] | ||||||||||
Other Commitments [Line Items] | ||||||||||
Unused Commitments to Extend Credit | 255,477 | 255,477 | 269,898 | |||||||
Unused Commitments to Extend Credit [Member] | ||||||||||
Other Commitments [Line Items] | ||||||||||
Accounts Receivable, Allowance for Credit Loss | 4,612 | $ 306 | 4,612 | 306 | $ 1,990 | 4,008 | $ 306 | $ 306 | 306 | $ 306 |
Provision for Other Credit Losses | $ 2,622 | $ 0 | $ 604 | $ 0 | ||||||
Cumulative Effect of New Accounting Principle in Period of Adoption | $ 0 | $ 3,702 | $ 0 | $ 0 |
Income Taxes (Details)
Income Taxes (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | Mar. 31, 2020 | |
Income Tax Disclosure [Abstract] | |||||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 13.20% | 16.70% | 5.10% | 16.50% | |
Recognized Tax Benefit | $ 1 |
Uncategorized Items - hfwa-2020
Label | Element | Value |
Retained Earnings [Member] | ||
Cumulative Effect of New Accounting Principle in Period of Adoption | us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption | $ (399,000) |
Cumulative Effect of New Accounting Principle in Period of Adoption | us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption | $ (5,615,000) |