Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Feb. 26, 2020 | Jun. 28, 2019 | |
Document and Entity Information [Abstract] | |||
Entity Registrant Name | WEST BANCORPORATION INC | ||
Entity Central Index Key | 0001166928 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Accelerated Filer | ||
Document Type | 10-K | ||
Document Period Date | Dec. 31, 2019 | ||
Document Fiscal Year Focus | 2019 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false | ||
Entity Emerging Growth Company | false | ||
Entity Shell Company | false | ||
Entity Small Business | true | ||
Entity Common Stock, Shares Outstanding | 16,379,752 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Public Float | $ 336,940,730 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
ASSETS | ||
Cash and due from banks | $ 37,808 | $ 46,369 |
Federal funds sold | 15,482 | 1,105 |
Cash and cash equivalents | 53,290 | 47,474 |
Investment securities available for sale, at fair value | 398,578 | 453,758 |
Federal Home Loan Bank stock, at cost | 12,491 | 12,037 |
Loans | 1,941,663 | 1,721,830 |
Allowance for loan losses | (17,235) | (16,689) |
Loans, net | 1,924,428 | 1,705,141 |
Premises and equipment, net | 29,680 | 21,491 |
Accrued interest receivable | 7,134 | 7,631 |
Bank-owned life insurance | 34,893 | 34,249 |
Deferred tax assets, net | 5,361 | 6,518 |
Other assets | 7,836 | 8,269 |
Total assets | 2,473,691 | 2,296,568 |
Deposits: | ||
Noninterest-bearing demand | 380,079 | 400,530 |
Interest-bearing demand | 346,307 | 336,089 |
Savings | 996,836 | 950,501 |
Time of $250 or more | 81,871 | 55,745 |
Other time | 209,663 | 151,664 |
Total deposits | 2,014,756 | 1,894,529 |
Federal funds purchased | 2,660 | 19,985 |
Subordinated notes, net | 20,438 | 20,425 |
Federal Home Loan Bank advances, net | 179,365 | 137,878 |
Long-term debt | 22,925 | 27,040 |
Accrued expenses and other liabilities | 21,727 | 5,688 |
Total liabilities | 2,261,871 | 2,105,545 |
COMMITMENTS AND CONTINGENCIES (Note 17) | ||
STOCKHOLDERS’ EQUITY | ||
Preferred stock, $0.01 par value; authorized 50,000,000 shares; no shares issued and outstanding at December 31, 2019 and 2018 | 0 | 0 |
Common stock, no par value; authorized 50,000,000 shares; 16,379,752 and 16,295,494 shares issued and outstanding at December 31, 2019 and 2018, respectively | 3,000 | 3,000 |
Additional paid-in capital | 27,260 | 25,128 |
Retained earnings | 184,821 | 169,709 |
Accumulated other comprehensive loss | (3,261) | (6,814) |
Total stockholders’ equity | 211,820 | 191,023 |
Total liabilities and stockholders’ equity | $ 2,473,691 | $ 2,296,568 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - $ / shares | Dec. 31, 2019 | Dec. 31, 2018 |
Preferred Stock: | ||
Preferred stock, par value ($ per share) | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized | 50,000,000 | 50,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common Stock: | ||
Common stock, no par value | ||
Common stock, share authorized | 50,000,000 | 50,000,000 |
Common stock, share issued | 16,379,752 | 16,295,494 |
Common stock, shares outstanding | 16,379,752 | 16,295,494 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Interest income: | |||
Loans, including fees | $ 85,512 | $ 71,189 | $ 63,242 |
Investment securities: | |||
Taxable | 10,031 | 8,124 | 5,501 |
Tax-exempt | 2,022 | 4,993 | 3,960 |
Federal funds sold | 1,110 | 487 | 331 |
Total interest income | 98,675 | 84,793 | 73,034 |
Interest expense: | |||
Deposits | 25,214 | 17,064 | 7,622 |
Federal funds purchased | 241 | 188 | 99 |
Subordinated notes | 1,023 | 1,076 | 901 |
Federal Home Loan Bank advances | 5,130 | 3,650 | 3,836 |
Long-term debt | 637 | 757 | 519 |
Total interest expense | 32,245 | 22,735 | 12,977 |
Net interest income | 66,430 | 62,058 | 60,057 |
Provision for loan losses | 600 | (250) | 0 |
Net interest income after provision for loan losses | 65,830 | 62,308 | 60,057 |
Noninterest income: | |||
Increase in cash value of bank-owned life insurance | 644 | 631 | 652 |
Gain from bank-owned life insurance | 0 | 0 | 307 |
Realized investment securities gains (losses), net | (87) | (263) | 326 |
Other income | 1,599 | 1,241 | 1,272 |
Total noninterest income | 8,318 | 7,752 | 8,648 |
Noninterest expense: | |||
Salaries and employee benefits | 21,790 | 18,791 | 17,633 |
Occupancy | 5,355 | 4,996 | 4,406 |
Data processing | 2,735 | 2,682 | 2,677 |
FDIC insurance | 404 | 685 | 677 |
Professional fees | 814 | 840 | 1,075 |
Director fees | 993 | 1,014 | 950 |
Write-down of premises | 0 | 333 | 0 |
Other expenses | 6,315 | 5,651 | 4,849 |
Total noninterest expense | 38,406 | 34,992 | 32,267 |
Income before income taxes | 35,742 | 35,068 | 36,438 |
Income taxes | 7,052 | 6,560 | 13,368 |
Net income | $ 28,690 | $ 28,508 | $ 23,070 |
Basic earnings per common share | $ 1.75 | $ 1.75 | $ 1.42 |
Diluted earnings per common share | $ 1.74 | $ 1.74 | $ 1.41 |
Deposit accounts [Member] | |||
Noninterest income: | |||
Revenue from contract with customer | $ 2,492 | $ 2,541 | $ 2,632 |
Debit cards [Member] | |||
Noninterest income: | |||
Revenue from contract with customer | 1,644 | 1,681 | 1,754 |
Trust services [Member] | |||
Noninterest income: | |||
Revenue from contract with customer | $ 2,026 | $ 1,921 | $ 1,705 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Net income | $ 28,690 | $ 28,508 | $ 23,070 |
Total other comprehensive income (loss) | 3,553 | (4,552) | (850) |
Comprehensive income | 32,243 | 23,956 | 22,220 |
Unrealized gains losses on securities [Member] | |||
Unrealized holding gains (losses) arising during the period | 12,153 | (7,807) | (1,124) |
Unrealized gains on investment securities transferred from held to maturity to available for sale | 0 | 363 | 0 |
Less: reclassification adjustment for net (gains) losses realized in net income | 87 | 263 | (326) |
Less: other reclassification adjustment | 0 | (36) | (268) |
Income tax (expense) benefit | (3,060) | 1,806 | 653 |
Other comprehensive income on available for sale securities, net of tax | 9,180 | (5,411) | (1,065) |
Unrealized gains losses on derivatives [Member] | |||
Unrealized holding gains (losses) arising during the period | (7,355) | 1,044 | (66) |
Plus: reclassification adjustment for net (gains) losses realized in net income | (235) | 10 | 304 |
Plus: reclassification adjustment for amortization of derivative termination costs realized in interest expense | 93 | 95 | 109 |
Income tax benefit (expense) | 1,870 | (290) | (132) |
Other comprehensive income (loss) on derivatives | $ (5,627) | $ 859 | $ 215 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity - USD ($) | Total | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] |
Balance at Dec. 31, 2016 | $ 165,376,000 | $ 0 | $ 3,000,000 | $ 21,462,000 | $ 141,956,000 | $ (1,042,000) |
Common stock, shares outstanding at Dec. 31, 2016 | 16,137,999 | |||||
Stockholders' Equity [Roll Forward] | ||||||
Net income | 23,070,000 | 0 | $ 0 | 0 | 23,070,000 | 0 |
Other comprehensive income (loss), net of tax | (850,000) | 0 | 0 | 0 | 0 | (850,000) |
Cash dividends declared, common stock | (11,499,000) | 0 | 0 | 0 | (11,499,000) | 0 |
Stock-based compensation costs | 2,632,000 | 0 | 0 | 2,632,000 | 0 | 0 |
Issuance of common stock upon vesting of restricted stock units, net of shares withheld for payroll taxes, value | (631,000) | 0 | $ 0 | (631,000) | 0 | 0 |
Issuance of common stock upon vesting of restricted stock units, net of shares withheld for payroll taxes, shares | 77,673 | |||||
Balance at Dec. 31, 2017 | 178,098,000 | 0 | $ 3,000,000 | 23,463,000 | 153,527,000 | (1,892,000) |
Common stock, shares outstanding at Dec. 31, 2017 | 16,215,672 | |||||
Stockholders' Equity [Roll Forward] | ||||||
Net income | 28,508,000 | 0 | $ 0 | 0 | 28,508,000 | 0 |
Reclassification of stranded tax effects | 0 | 0 | 0 | 0 | 370,000 | (370,000) |
Other comprehensive income (loss), net of tax | (4,552,000) | 0 | 0 | 0 | 0 | (4,552,000) |
Cash dividends declared, common stock | (12,696,000) | 0 | 0 | 0 | (12,696,000) | 0 |
Stock-based compensation costs | 2,741,000 | 0 | 0 | 2,741,000 | 0 | 0 |
Issuance of common stock upon vesting of restricted stock units, net of shares withheld for payroll taxes, value | (1,076,000) | 0 | $ 0 | (1,076,000) | 0 | 0 |
Issuance of common stock upon vesting of restricted stock units, net of shares withheld for payroll taxes, shares | 79,822 | |||||
Balance at Dec. 31, 2018 | $ 191,023,000 | 0 | $ 3,000,000 | 25,128,000 | 169,709,000 | (6,814,000) |
Common stock, shares outstanding at Dec. 31, 2018 | 16,295,494 | 16,295,494 | ||||
Stockholders' Equity [Roll Forward] | ||||||
Net income | $ 28,690,000 | 0 | $ 0 | 0 | 28,690,000 | 0 |
Other comprehensive income (loss), net of tax | 3,553,000 | 0 | 0 | 0 | 0 | 3,553,000 |
Cash dividends declared, common stock | (13,578,000) | 0 | 0 | 0 | (13,578,000) | 0 |
Stock-based compensation costs | 2,993,000 | 0 | 0 | 2,993,000 | 0 | 0 |
Issuance of common stock upon vesting of restricted stock units, net of shares withheld for payroll taxes, value | (861,000) | 0 | $ 0 | (861,000) | 0 | 0 |
Issuance of common stock upon vesting of restricted stock units, net of shares withheld for payroll taxes, shares | 84,258 | |||||
Balance at Dec. 31, 2019 | $ 211,820,000 | $ 0 | $ 3,000,000 | $ 27,260,000 | $ 184,821,000 | $ (3,261,000) |
Common stock, shares outstanding at Dec. 31, 2019 | 16,379,752 | 16,379,752 |
Consolidated Statements of St_2
Consolidated Statements of Stockholders' Equity (Parentheticals) - $ / shares | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Statement of Stockholders' Equity [Abstract] | |||
Cash dividends declared per common share | $ 0.83 | $ 0.78 | $ 0.71 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Cash Flows from Operating Activities: | |||
Net income | $ 28,690 | $ 28,508 | $ 23,070 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Provision for loan losses | 600 | (250) | 0 |
Net amortization and accretion | 3,640 | 4,945 | 4,155 |
Investment securities (gains) losses, net | 87 | 263 | (326) |
Stock-based compensation | 2,993 | 2,741 | 2,632 |
Increase in cash value of bank-owned life insurance | (644) | (631) | (652) |
Gain from bank-owned life insurance | 0 | 0 | (307) |
Gain on sale of premises | (307) | 0 | 0 |
Depreciation | 1,429 | 1,408 | 1,347 |
Write-down of premises | 0 | 333 | 0 |
Deferred income taxes | (33) | (359) | 2,833 |
Change in assets and liabilities: | |||
(Increase) decrease in accrued interest receivable | 497 | (287) | (2,023) |
(Increase) decrease in other assets | (1,029) | (2,490) | 131 |
Increase (decrease) in accrued expenses and other liabilities | 1,044 | 563 | (1,503) |
Net Cash Provided by (Used in) Operating Activities | 36,967 | 34,744 | 29,357 |
Cash Flows from Investing Activities: | |||
Proceeds from sales of investment securities available for sale | 198,699 | 75,401 | 108,584 |
Proceeds from maturities and calls of investment securities | 46,755 | 45,937 | 47,781 |
Purchases of investment securities available for sale | (180,168) | (96,170) | (341,012) |
Purchases of Federal Home Loan Bank stock | (26,559) | (16,334) | (19,414) |
Proceeds from redemption of Federal Home Loan Bank stock | 26,105 | 13,471 | 21,011 |
Net increase in loans | (219,887) | (210,821) | (110,312) |
Purchases of premises and equipment | (1,048) | (210) | (1,055) |
Proceeds from sale of premises | 604 | 0 | 0 |
Proceeds of principal and earnings from bank-owned life insurance | 0 | 0 | 452 |
Net Cash Provided by (Used in) Investing Activities | (155,499) | (188,726) | (293,965) |
Cash Flows from Financing Activities: | |||
Net increase in deposits | 120,227 | 83,716 | 264,208 |
Net increase (decrease) in federal funds purchased | (17,325) | 19,440 | (9,145) |
Proceeds from long-term debt | 0 | 11,486 | 22,000 |
Proceeds from Federal Home Loan Bank advances | 40,000 | 60,000 | |
Principal payments on Federal Home Loan Bank advances | (25,000) | ||
Principal payments on long-term debt | (4,115) | (7,363) | (4,212) |
Common stock dividends paid | (13,578) | (12,696) | (11,499) |
Restricted stock units withheld for payroll taxes | (861) | (1,076) | (631) |
Net Cash Provided by (Used in) Financing Activities | 124,348 | 153,507 | 235,721 |
Net increase (decrease) in cash and cash equivalents | 5,816 | (475) | (28,887) |
Cash and Cash Equivalents: | |||
Beginning | 47,474 | 47,949 | 76,836 |
Ending | 53,290 | 47,474 | 47,949 |
Supplemental Disclosure of Cash Flow Information: | |||
Cash payments for interest | 31,492 | 22,154 | 12,520 |
Cash payments for income taxes | 5,880 | 7,312 | 9,300 |
Establishment of lease liabilities and right-of-use assets | 10,435 | 0 | 0 |
Held to maturity securities, transferred to available for sale securities, amortized cost | $ 0 | $ 45,527 | $ 0 |
Organization and Nature of Busi
Organization and Nature of Business and Summary of Significant Accounting Policies (Notes) | 12 Months Ended |
Dec. 31, 2019 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block] | Organization and Nature of Business and Summary of Significant Accounting Policies Organization and nature of business : West Bancorporation, Inc. operates in the commercial banking industry through its wholly-owned subsidiary, West Bank. West Bank is a state chartered bank and has its main office in West Des Moines, Iowa, with seven additional offices located in the Des Moines, Iowa, metropolitan area, one office located in Coralville, Iowa, and four offices located in Minnesota, in the cities of Rochester, Owatonna, Mankato and St. Cloud. As used herein, the term “Company” refers to West Bancorporation, Inc., or if the context dictates, West Bancorporation, Inc. and its subsidiary. Significant accounting policies : Accounting estimates and assumptions : The consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles (GAAP) established by the Financial Accounting Standards Board (FASB). References to GAAP issued by the FASB in these footnotes are to the FASB Accounting Standards Codification TM , sometimes referred to as the Codification or ASC. In preparing the consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses for the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term are the fair value of investment securities and derivatives, and the allowance for loan losses. Consolidation policy : The consolidated financial statements include the accounts of the Company, West Bank and West Bank’s special purpose subsidiaries (which facilitated an investment in new market tax credit activity in 2018) and WB Funding Corporation (which was liquidated in March 2018). All significant intercompany transactions and balances have been eliminated in consolidation. In addition, the Company owns an unconsolidated subsidiary, West Bancorporation Capital Trust I (the Trust), which was formed for the purpose of issuing trust preferred securities. In accordance with GAAP, the results of the Trust are recorded on the books of the Company using the equity method of accounting and are not consolidated. Segment information: An operating segment is generally defined as a component of a business for which discrete financial information is available and whose operating results are regularly reviewed by the chief operating decision-maker. As a community-oriented financial institution, substantially all of West Bank’s operations involve the delivery of loan and deposit products to customers. Management makes operating decisions and assesses performance based on an ongoing review of the community banking activities, which constitutes the Company’s only operating segment for financial reporting purposes. Comprehensive income : Comprehensive income consists of net income and other comprehensive income (OCI). OCI consists of the net change in unrealized gains and losses on the Company’s investment securities available for sale, including the noncredit-related portion of unrealized gains (losses) of other than temporarily impaired (OTTI) securities, if any, and the change in fair value of derivative instruments. OCI also includes the amortization of derivative termination costs and the amortization of unrealized gains on investment securities transferred from available for sale to held to maturity. Cash and cash equivalents and cash flows : For statement of cash flow purposes, the Company considers cash, due from banks and federal funds sold to be cash and cash equivalents. Cash inflows and outflows from loans, deposits, federal funds purchased and FHLB advances are reported on a net basis. Investment securities : Investment securities that may be sold for general liquidity needs, in response to market interest rate fluctuations, implementation of asset-liability management strategies, funding loan demand, changes in securities prepayment risk or other similar factors are classified as available for sale and reported at fair value, with unrealized gains and losses reported as a separate component of accumulated other comprehensive income (AOCI), net of deferred income taxes. Realized gains and losses on sales of investment securities are computed on a specific identification basis based on amortized cost. The amortized cost of debt securities is adjusted for accretion of discounts to maturity and amortization of premiums over the estimated average life of each security or, in the case of callable securities, through the first call date, using the effective yield method. Such amortization and accretion is included in interest income. Interest income on securities is recognized using the interest method according to the terms of the investment security. The Company evaluates each of its investment securities whose value has declined below amortized cost to determine whether the decline in fair value is OTTI. When determining whether an investment security is OTTI, management assesses the severity and duration of the decline in fair value, the length of time expected for recovery, the financial condition of the issuer and other qualitative factors, as well as whether: (a) it has the intent to sell the security, and (b) it is more likely than not that it will be required to sell the security prior to its anticipated recovery. In instances when a determination is made that an OTTI exists but management does not intend to sell the security and it is not more likely than not that it will be required to sell the security prior to its anticipated repayment or maturity, the OTTI is separated into: (a) the amount of the total OTTI related to a decrease in cash flows expected to be collected from the security (the credit loss); and (b) the amount of the total OTTI related to all other factors. The amount of the total OTTI related to the credit loss is recognized as a charge to earnings. The amount of the total OTTI related to all other factors is recognized in OCI. If the Company intends to sell or it is more likely than not that it will be required to sell a security with OTTI before recovery of its amortized cost basis, the OTTI is recognized in earnings equal to the entire difference between the investment’s amortized cost basis and its fair value at the balance sheet date. Federal Home Loan Bank stock : West Bank, as a member of the Federal Home Loan Bank (FHLB) system, is required to maintain an investment in capital stock of the FHLB in an amount equal to 0.12 percent of total assets plus 4.00 percent of outstanding advances from the FHLB and the outstanding principal balance of loans previously issued through the Mortgage Partnership Finance Program (MPF). No ready market exists for the FHLB stock, and it has no quoted market value. The Company evaluates this asset for impairment on a quarterly basis and determined there was no impairment as of December 31, 2019 . All shares of FHLB stock are issued and redeemed at par value. Loans : Loans are stated at the principal amounts outstanding, net of unamortized loan fees and costs, with interest income recognized on the interest method based upon the terms of the loan. Loan origination fees, net of certain direct origination costs, are deferred and recognized as an adjustment of the related loan yield using the interest method. Loans are reported by the portfolio segments identified and are analyzed by management on this basis. All loan policies identified below apply to all segments of the loan portfolio. Delinquencies are determined based on the payment terms of the individual loan agreements. The accrual of interest on past due and other impaired loans is generally discontinued at 90 days past due or when, in the opinion of management, the borrower may be unable to make all payments pursuant to contractual terms. Unless considered collectible, all interest accrued but not collected for loans that are placed on nonaccrual or charged off is reversed against interest income, if accrued in the current year, or charged to the allowance for loan losses, if accrued in the prior year. Generally, all payments received while a loan is on nonaccrual status are applied to the principal balance of the loan. Loans are returned to accrual status when all principal and interest amounts contractually due are brought current and future payments are reasonably assured. A loan is classified as troubled debt restructured (TDR) when the Company separately concludes that a borrower is experiencing financial difficulties and a concession is granted that would not otherwise be considered. Concessions may include a restructuring of the loan terms to alleviate the burden of the borrower’s cash requirements, such as an extension of the payment terms beyond the original maturity date or a change in the interest rate charged. TDR loans with extended payment terms are accounted for as impaired until performance is established. A change to the interest rate would change the classification of a loan to a TDR loan if the restructured loan yields a rate that is below a market rate for that of a new loan with comparable risk. TDR loans with below-market rates are considered impaired until fully collected. TDR loans may also be reported as nonaccrual or 90 days past due if they are not performing per the restructured terms. Based upon its ongoing assessment of credit quality within the loan portfolio, the Company maintains a Watch List, which includes loans classified as Doubtful, Substandard and Watch according to the Company’s classification criteria. These loans involve the anticipated potential for payment defaults or collateral inadequacies. A loan on the Watch List is considered impaired when management believes it is probable the Company will be unable to collect all contractual principal and interest payments due in accordance with the terms of the loan agreement. Impaired loans are measured based on the present value of expected future cash flows discounted at the loan’s effective interest rate or, as a practical expedient, at the loan’s observable market price or the fair value of the collateral if the loan is collateral dependent. The amount of impairment, if any, and any subsequent changes are included in the allowance for loan losses. Allowance for loan losses : The allowance for loan losses is established through a provision for loan losses charged to expense. The allowance is an amount that management believes will be adequate to absorb probable losses on existing loans based on an evaluation of the collectability of loans and prior loss experience. This evaluation also takes into consideration such factors as changes in the nature and volume of the loan portfolio, overall portfolio quality, the review of specific problem loans, and current economic conditions that may affect the borrowers’ ability to pay. Loans are charged off against the allowance for loan losses when management believes that collectability of the principal is unlikely. While management uses the best information available to make its evaluations, future adjustments to the allowance may be necessary if there are significant changes in economic conditions or the other factors relied upon. The allowance for loan losses consists of specific and general components. The specific component relates to loans that meet the definition of impaired. The general component covers the remaining loans and is based on historical loss experience adjusted for qualitative factors such as delinquency trends, loan growth, economic elements and local market conditions. These same policies are applied to all segments of loans. In addition, regulatory agencies, as integral parts of their examination processes, periodically review the Company’s allowance for loan losses, and may require the Company to make additions to the allowance based on their judgment about information available to them at the time of their examinations. Premises and equipment : Premises and equipment are stated at cost less accumulated depreciation. The straight-line method of depreciation and amortization is used for calculating expense. The estimated useful lives of premises and equipment range up to 40 years for buildings, up to 10 years for furniture and equipment, and the shorter of the estimated useful life or lease term for leasehold improvements. Other real estate owned : Real estate properties acquired through or in lieu of foreclosure are initially recorded at fair value less estimated selling cost at the date of foreclosure, establishing a new cost basis. Fair value is determined by management by obtaining appraisals or other market value information at the time of foreclosure. Any write-downs in value at the date of acquisition are charged to the allowance for loan losses. After foreclosure, valuations are periodically performed by management by obtaining updated appraisals or other market value information at least annually. Any subsequent write-downs are recorded as a charge to operations, if necessary, to reduce the carrying value of a property to the updated fair value less estimated selling cost. Net costs related to the holding of properties are included in noninterest expense. As of December 31, 2019 and 2018 , the Company had no other real estate owned. Trust assets : Assets held by West Bank in fiduciary or agency capacities, other than trust cash on deposit at West Bank, are not included in the consolidated balance sheets of the Company, as such assets are not assets of West Bank. The Company managed or administered accounts with assets totaling $359,585 as of December 31, 2019 , compared to assets totaling $300,722 as of December 31, 2018 . Bank-owned life insurance : The carrying amount of bank-owned life insurance consists of the initial premium paid, plus increases in cash value, less the carrying amount associated with any death benefit received. Death benefits paid in excess of the applicable carrying amount are recognized as income. Increases in cash value and the portion of death benefits recognized as income are exempt from income taxes. Derivatives: The Company uses derivative financial instruments, which consist of interest rate swaps, to assist in its interest rate risk management. All derivatives are measured and reported at fair value on the Company’s consolidated balance sheet as other assets or other liabilities. The Company records cash flow hedges at the inception of the derivative contract based on the Company’s intentions and belief as to likely effectiveness as a hedge. The Company documents the strategy for entering into the transactions and the method of assessing ongoing effectiveness. Cash flow hedges represent a hedge of a forecasted transaction or the variability of cash flows to be received or paid related to a recognized asset or liability. For a cash flow hedge that is effective, the gain or loss on the derivative is reported in other comprehensive income and is reclassified into earnings in the same periods during which the hedged transaction affects earnings. The changes in the fair value of derivatives that are not highly effective in hedging the changes in expected cash flows of the hedged item are recognized immediately in current earnings. All of the Company’s cash flow hedges qualify for hedge accounting and are considered highly effective. Net cash settlements on derivatives that qualify for hedge accounting are recorded in interest income or interest expense, based on the item being hedged. Cash flows on hedges are classified in the cash flow statement the same as the cash flows of the items being hedged. To determine fair value, the Company uses third party pricing models that incorporate assumptions about market conditions and risks that are current at the reporting date. The Company does not use derivative instruments for trading or speculative purposes. The Company formally assesses, both at the hedge’s inception and on an ongoing basis, whether the derivative instruments that are used are highly effective in offsetting changes in cash flows of the hedged items. The Company discontinues hedge accounting when it determines that the derivative is no longer effective in offsetting changes in the fair value or cash flows of the hedged item, the derivative is settled or terminates, a hedged forecasted transaction is no longer probable, a hedged firm commitment is no longer firm, or treatment of the derivative as a hedge is no longer appropriate or intended. When hedge accounting is discontinued, subsequent changes in fair value of the derivative are recorded as noninterest income. When a cash flow hedge is discontinued but the hedged cash flows or forecasted transactions are still expected to occur, gains or losses that were accumulated in other comprehensive income are amortized into earnings over the same periods in which the hedged transactions will affect earnings. Stock-based compensation: The Company’s equity incentive plans were approved by the stockholders as a means to attract, retain and reward selected participants. The plans are administered by the Compensation Committee of the Board of Directors. Compensation expense for stock-based awards is recognized on a straight-line basis over the vesting period, or until the participant reaches full retirement age if less than the vesting period, using the fair value of the award at the time of the grant. The restricted stock unit (RSU) participants do not have dividend rights prior to vesting, so the fair value of nonvested RSUs is equal to the fair market value of the underlying common stock at the grant date, reduced by the present value of the dividends expected to be paid on the underlying shares during the vesting period. The Company accounts for forfeitures as they occur. Deferred compensation: The West Bancorporation, Inc. Deferred Compensation Plan (the Deferred Compensation Plan) provides certain individuals with additional deferral opportunities in planning for retirement. Eligible participants, including directors and key officers of the Company, may choose to voluntarily defer receipt of a portion of their respective cash compensation. The Deferred Compensation Plan is an unfunded, nonqualified deferred compensation plan intended to conform to the requirements of Section 409A of the Internal Revenue Code. As of December 31, 2019 , no amounts have been deferred. Income taxes : The Company files a consolidated federal income tax return. Income tax expense is generally allocated as if the Company and its subsidiary file separate income tax returns. Deferred taxes are provided on an asset and liability method whereby deferred tax assets are recognized for deductible temporary differences, capital losses and net operating losses, and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax basis. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. When tax returns are filed, it is highly certain that some tax positions taken will be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the positions taken or the amount of the position that would be ultimately sustained. The benefit of a tax position is recognized in the consolidated financial statements in the period during which, based on all available evidence, management believes it is more likely than not that the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. The evaluation of a tax position taken is considered by itself and is not offset or aggregated with other positions. Tax positions that meet the more likely than not recognition threshold are measured as the largest amount of tax benefit that is more than 50 percent likely of being realized upon settlement with the applicable taxing authority. Management does not believe the Company has any material uncertain tax positions to disclose. Interest and penalties, if any, related to income taxes are recorded as other noninterest expense in the consolidated income statements in the year assessed. Revenue recognition : Revenue from deposit account-related fees, including general service fees charged for deposit account maintenance and activity and transaction-based fees charged for certain services, such as debit card, wire transfer or overdraft activities, is recognized when the performance obligation is completed, which is generally after a transaction is completed or monthly for account maintenance services. Trust services, which include periodic fees earned from trusts and investment management agency accounts, estate administration, custody accounts, individual retirement accounts, and other related services, are charged based on standard agreements or by statute and are recognized over the period of time the Company provides the contracted services. Earnings per common share : Basic earnings per common share are computed by dividing net income by the weighted average number of common shares outstanding for the period. Diluted earnings per common share reflect the potential dilution that could occur if the Company’s outstanding RSUs were vested. The dilutive effect is computed using the treasury stock method, which assumes all stock-based awards were exercised and the hypothetical proceeds from exercise were used by the Company to purchase common stock at the average market price during the period. Current accounting developments : In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842). The guidance in the update supersedes the requirements in ASC Topic 840, Leases. The guidance is intended to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet for leases with terms of more than 12 months. In July 2018, the FASB issued ASU No. 2018-11, Targeted Improvements, which amends ASC 842, Leases, to provide for an adoption option that will not require earlier periods to be restated at the adoption date. The Company adopted this guidance effective January 1, 2019. Upon adoption, the Company elected a practical expedient which allowed existing leases to retain their classification as operating leases. The Company also elected the option to account for lease and related non-lease components as a single lease component, and the option not to recognize right-of-use assets and lease liabilities arising from short-term leases (leases with terms of 12 months or less). Lease liabilities are measured at the present value of the remaining lease payments, discounted at the Company’s incremental borrowing rate. The right-of-use asset is measured at the amount of the lease liability adjusted for any cumulative prepaid or accrued rent if the lease payments are uneven throughout the lease term. Implementation of the guidance resulted in the recording of right-of-use assets, included in premises and equipment, and operating lease liabilities, included in other liabilities, on the consolidated balance sheet; however, it did not have a material impact on the Company’s other consolidated financial statements. Refer to Note 6 for additional information regarding operating leases. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326). The amendments in this update require a financial asset (or a group of financial assets) measured at amortized cost basis to be presented at the net amount expected to be collected. The allowance for credit losses is a valuation account that is deducted from the amortized cost basis of the financial assets to present the net carrying value at the amount expected to be collected on the financial assets. Under the updates, the income statement will reflect the measurement of credit losses for newly recognized financial assets, as well as the expected increases or decreases of expected credit losses that have taken place during the period. The measurement of expected credit losses is based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectibility of the reported amount of financial assets. An entity must use judgment in determining the relevant information and estimation methods that are appropriate in its circumstances. The allowance for credit losses for purchased financial assets with a more-than-insignificant amount of credit deterioration since origination that are measured at amortized cost basis is determined in a similar manner to other financial assets measured at amortized cost basis; however, the initial allowance for credit losses is added to the purchase price rather than being reported as a credit loss expense. Only subsequent changes in the allowance for credit losses are recorded as a credit loss expense for these assets. Off-balance-sheet arrangements such as commitments to extend credit, guarantees, and standby letters of credit that are not considered derivatives under ASC 815 and are not unconditionally cancellable are also within the scope of this update. Credit losses relating to available for sale debt securities should be recorded through an allowance for credit losses. In December 2019, the FASB issued ASU No. 2019-10, Financial Instruments-Credit Losses (Topic 326). This update amends the effective date of ASU No. 2016-13 for certain entities, including smaller reporting companies until fiscal years beginning after December 15, 2022, including interim periods within those fiscal periods. Early adoption is permitted. The one-time determination date for identifying as a smaller reporting company was November 15, 2019. The Company met the definition of a smaller reporting company as of this date and plans to adopt the standard with the amended effective date. The Company does not plan to early adopt this standard, but continues to work through implementation. The Company continues collecting and retaining loan and credit data and evaluating various loss estimation models. While we currently cannot reasonably estimate the impact of adopting this standard, we expect the impact will be influenced by the composition, characteristics and quality of our loan and securities portfolios, as well as the general economic conditions and forecasts as of the adoption date. In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement . The amendments in this update modify the disclosure requirements for fair value measurements by removing, modifying, or adding certain disclosures. The update is effective for interim and annual periods in fiscal years beginning after December 15, 2019, with early adoption permitted for the removed disclosures and delayed adoption until the fiscal year 2020 permitted for the new disclosures. The removed and modified disclosures will be adopted on a retrospective basis, and the new disclosures will be adopted on a prospective basis. The adoption will not have a material effect on the Company’s consolidated financial statements. In April 2019, the FASB issued ASU No. 2019-04, Codification Improvements to Financial Instruments - Credit Losses (ASC 326), Derivatives and Hedging (ASC 815), and Financial Instruments (ASC 825) . The amendments in the ASU improve the Codification by eliminating inconsistencies and providing clarifications. The amended guidance in this ASU related to the credit losses will be effective for the Company for fiscal years and interim periods beginning after December 15, 2022. The Company is currently evaluating the impact of the ASU on the Company’s consolidated financial statements. |
Earnings per Common Share (Note
Earnings per Common Share (Notes) | 12 Months Ended |
Dec. 31, 2019 | |
Earnings Per Share [Abstract] | |
Earnings Per Share [Text Block] | Earnings per Common Share The calculation of earnings per common share and diluted earnings per common share is presented below for the years ended December 31, 2019 , 2018 and 2017 . (in thousands, except per share data) 2019 2018 2017 Net income $ 28,690 $ 28,508 $ 23,070 Weighted average common shares outstanding 16,359 16,275 16,194 Weighted average effect of restricted stock units outstanding 121 125 141 Diluted weighted average common shares outstanding 16,480 16,400 16,335 Basic earnings per common share $ 1.75 $ 1.75 $ 1.42 Diluted earnings per common share $ 1.74 $ 1.74 $ 1.41 Number of anti-dilutive common stock equivalents excluded from diluted earnings per share computation 105 103 — |
Investment securities (Notes)
Investment securities (Notes) | 12 Months Ended |
Dec. 31, 2019 | |
Investments, Debt and Equity Securities [Abstract] | |
Investments in Debt and Marketable Equity Securities Disclosure [Text Block] | Investment Securities The following tables show the amortized cost, gross unrealized gains and losses and fair value of investment securities, by investment security type as of December 31, 2019 and 2018 . 2019 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Securities available for sale: State and political subdivisions $ 45,442 $ 1,736 $ — $ 47,178 Collateralized mortgage obligations (1) 180,899 1,651 (629 ) 181,921 Mortgage-backed securities (1) 73,038 225 (233 ) 73,030 Asset-backed securities (2) 17,551 66 (17 ) 17,600 Collateralized loan obligations 64,939 21 (128 ) 64,832 Corporate notes 15,300 — (1,283 ) 14,017 $ 397,169 $ 3,699 $ (2,290 ) $ 398,578 2018 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Securities available for sale: State and political subdivisions $ 152,293 $ 156 $ (3,293 ) $ 149,156 Collateralized mortgage obligations (1) 161,392 — (4,388 ) 157,004 Mortgage-backed securities (1) 64,813 — (1,435 ) 63,378 Asset-backed securities (2) 32,076 2 (175 ) 31,903 Trust preferred security 2,153 — (253 ) 1,900 Corporate notes 51,862 124 (1,569 ) 50,417 $ 464,589 $ 282 $ (11,113 ) $ 453,758 (1) All collateralized mortgage obligations and mortgage-backed securities consist of residential mortgage pass-through securities and real estate mortgage investment conduits guaranteed by FNMA, FHLMC or GNMA, and commercial mortgage pass-through securities guaranteed by the SBA. (2) Pass-through asset-backed securities guaranteed by the SBA, representing participating interests in pools of commercial working capital and equipment loans. Investment securities with an amortized cost of approximately $148,257 and $126,531 as of December 31, 2019 and 2018 , respectively, were pledged to secure access to the Federal Reserve discount window, for public fund deposits, and for other purposes as required or permitted by law or regulation. The amortized cost and fair value of investment securities available for sale as of December 31, 2019 , by contractual maturity, are shown below. Certain securities have call features that allow the issuer to call the securities prior to maturity. Expected maturities may differ from contractual maturities for collateralized mortgage obligations, mortgage-backed securities and asset-backed securities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Therefore, collateralized mortgage obligations, mortgage-backed securities and asset-backed securities are not included in the maturity categories within the following maturity summary. 2019 Amortized Cost Fair Value Due after one year through five years $ 9,938 $ 9,947 Due after five years through ten years 71,451 70,063 Due after ten years 44,292 46,017 125,681 126,027 Collateralized mortgage obligations, mortgage-backed and asset-backed securities 271,488 272,551 $ 397,169 $ 398,578 The details of the sales of investment securities for the years ended December 31, 2019 , 2018 and 2017 are summarized in the following table. 2019 2018 2017 Proceeds from sales $ 198,699 $ 75,401 $ 108,584 Gross gains on sales 1,046 101 752 Gross losses on sales 1,133 364 426 The following tables show the fair value and gross unrealized losses, aggregated by investment type and length of time that individual securities have been in a continuous loss position, as of December 31, 2019 and 2018 . 2019 Less than 12 months 12 months or longer Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Securities available for sale: Collateralized mortgage obligations $ 54,521 $ (335 ) $ 35,546 $ (294 ) $ 90,067 $ (629 ) Mortgage-backed securities 45,132 (174 ) 4,687 (59 ) 49,819 (233 ) Asset-backed securities 3,641 (4 ) 7,075 (13 ) 10,716 (17 ) Collateralized loan obligations 42,823 (128 ) — — 42,823 (128 ) Corporate notes 4,499 (501 ) 9,518 (782 ) 14,017 (1,283 ) $ 150,616 $ (1,142 ) $ 56,826 $ (1,148 ) $ 207,442 $ (2,290 ) 2018 Less than 12 months 12 months or longer Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Securities available for sale: State and political subdivisions $ 21,264 $ (221 ) $ 102,853 $ (3,072 ) $ 124,117 $ (3,293 ) Collateralized mortgage obligations 32,230 (250 ) 124,774 (4,138 ) 157,004 (4,388 ) Mortgage-backed securities 10,960 (103 ) 52,418 (1,332 ) 63,378 (1,435 ) Asset-backed securities 6,668 (31 ) 16,486 (144 ) 23,154 (175 ) Trust preferred security — — 1,900 (253 ) 1,900 (253 ) Corporate notes 19,470 (611 ) 19,041 (958 ) 38,511 (1,569 ) $ 90,592 $ (1,216 ) $ 317,472 $ (9,897 ) $ 408,064 $ (11,113 ) As of December 31, 2019 , the available for sale investment securities with unrealized losses included 27 collateralized mortgage obligations, seven mortgage-backed securities, three asset-backed securities, seven collateralized loan obligations and four corporate notes. The Company believes the unrealized losses on investment securities available for sale as of December 31, 2019 were due to market conditions, including interest rate fluctuations, rather than reduced estimated cash flows. The Company does not intend to sell these securities, does not anticipate that these securities will be required to be sold before anticipated recovery, and expects full principal and interest to be collected. Therefore, the Company does not consider these investments to have OTTI as of December 31, 2019 . |
Loans and Allowance for Loan Lo
Loans and Allowance for Loan Losses (Notes) | 12 Months Ended |
Dec. 31, 2019 | |
Loans and Allowance for Loan Losses [Abstract] | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | Loans and Allowance for Loan Losses Loans consisted of the following segments as of December 31, 2019 and 2018 . 2019 2018 Commercial $ 431,044 $ 358,763 Real estate: Construction, land and land development 264,193 245,810 1-4 family residential first mortgages 54,475 49,052 Home equity 12,380 14,469 Commercial 1,175,024 1,050,025 Consumer and other 6,787 6,211 1,943,903 1,724,330 Net unamortized fees and costs (2,240 ) (2,500 ) $ 1,941,663 $ 1,721,830 The loan portfolio included $1,331,393 and $1,142,413 of fixed-rate loans and $612,510 and $581,917 of variable-rate loans as of December 31, 2019 and 2018 , respectively. Real estate loans of approximately $910,000 and $800,000 were pledged as security for FHLB advances as of December 31, 2019 and 2018 , respectively. The Company has had, and may be expected to have in the future, banking transactions in the ordinary course of business with directors, executive officers, their immediate families, and affiliated companies in which they are principal stockholders or executive officers (commonly referred to as related parties), all of which have been originated, in the opinion of management, on the same terms, including interest rates and collateral, as those prevailing at the time for comparable transactions with unrelated parties. None of these loans are past due, on nonaccrual status or restructured to provide a reduction or deferral of interest or principal because of deterioration in the financial position of the borrower. There were no loans to a related party that the Company considered adversely classified at December 31, 2019 or 2018 . Loan transactions with related parties were as follows for the years ended December 31, 2019 and 2018 . 2019 2018 Balance, beginning of year $ 153,476 $ 165,097 New loans 4,934 9,387 Repayments (24,749 ) (21,008 ) Balance, end of year $ 133,661 $ 153,476 The following table summarizes the recorded investment in impaired loans by segment, broken down by loans with no related allowance and loans with a related allowance and the amount of that allowance as of December 31, 2019 and 2018 . December 31, 2019 December 31, 2018 Recorded Investment Unpaid Principal Balance Related Allowance Recorded Investment Unpaid Principal Balance Related Allowance With no related allowance recorded: Commercial $ 91 $ 91 $ — $ 1,014 $ 1,014 $ — Real estate: Construction, land and land development — — — — — — 1-4 family residential first mortgages 411 411 — 106 106 — Home equity 31 31 — 41 41 — Commercial 5 5 — 652 652 — Consumer and other — — — — — — 538 538 — 1,813 1,813 — With an allowance recorded: Commercial — — — 15 15 15 Real estate: Construction, land and land development — — — — — — 1-4 family residential first mortgages — — — — — — Home equity — — — — — — Commercial — — — 100 100 100 Consumer and other — — — — — — — — — 115 115 115 Total: Commercial 91 91 — 1,029 1,029 15 Real estate: Construction, land and land development — — — — — — 1-4 family residential first mortgages 411 411 — 106 106 — Home equity 31 31 — 41 41 — Commercial 5 5 — 752 752 100 Consumer and other — — — — — — Total impaired loans $ 538 $ 538 $ — $ 1,928 $ 1,928 $ 115 The balance of impaired loans was composed of loans to six and ten different borrowers, as of December 31, 2019 and 2018 , respectively. As of December 31, 2019 , $104 of total impaired loans to four of the borrowers was also considered impaired as of December 31, 2018 . The Company has no commitments to advance additional funds on any of the impaired loans. The following table summarizes the average recorded investment and interest income recognized on impaired loans by segment for the years ended December 31, 2019 , 2018 and 2017 . December 31, 2019 December 31, 2018 December 31, 2017 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized With no related allowance recorded: Commercial $ 687 $ 39 $ 738 $ — $ 19 $ — Real estate: Construction, land and land development — — — — — — 1-4 family residential first mortgages 73 6 113 — 99 — Home equity 34 2 122 6 39 2 Commercial 384 22 600 — 276 — Consumer and other — — — — — — 1,178 69 1,573 6 433 2 With an allowance recorded: Commercial 7 — 1 — 60 7 Real estate: Construction, land and land development — — — — — — 1-4 family residential first mortgages — — — — — — Home equity — — 15 — 177 1 Commercial 58 6 109 — 127 — Consumer and other — — — — — — 65 6 125 — 364 8 Total: Commercial 694 39 739 — 79 7 Real estate: Construction, land and land development — — — — — — 1-4 family residential first mortgages 73 6 113 — 99 — Home equity 34 2 137 6 216 3 Commercial 442 28 709 — 403 — Consumer and other — — — — — — Total impaired loans $ 1,243 $ 75 $ 1,698 $ 6 $ 797 $ 10 Interest income forgone on impaired loans was $25 , $96 and $47 , respectively, during the years ended December 31, 2019 , 2018 and 2017 . The following tables provide an analysis of the payment status of the recorded investment in loans as of December 31, 2019 and 2018 . December 31, 2019 30-59 Days Past Due 60-89 Days Past Due 90 Days or More Past Due Total Past Due Current Nonaccrual Loans Total Loans Commercial $ — $ — $ — $ — $ 430,953 $ 91 $ 431,044 Real estate: Construction, land and land development — — — — 264,193 — 264,193 1-4 family residential first mortgages 76 — — 76 53,988 411 54,475 Home equity — — — — 12,349 31 12,380 Commercial — 152 — 152 1,174,867 5 1,175,024 Consumer and other — — — — 6,787 — 6,787 Total $ 76 $ 152 $ — $ 228 $ 1,943,137 $ 538 $ 1,943,903 December 31, 2018 30-59 Days Past Due 60-89 Days Past Due 90 Days or More Past Due Total Past Due Current Nonaccrual Loans Total Loans Commercial $ 54 $ — $ — $ 54 $ 357,680 $ 1,029 $ 358,763 Real estate: Construction, land and land development — — — — 245,810 — 245,810 1-4 family residential first mortgages 157 — — 157 48,789 106 49,052 Home equity — — — — 14,428 41 14,469 Commercial — — — — 1,049,273 752 1,050,025 Consumer and other — — — — 6,211 — 6,211 Total $ 211 $ — $ — $ 211 $ 1,722,191 $ 1,928 $ 1,724,330 TDR loans totaled $4 and $652 as of December 31, 2019 and 2018 , respectively, and were included in the nonaccrual category. There were no loan modifications considered to be TDR that occurred during the year ended December 31, 2019 , one loan modification considered to be TDR that occurred during the year ended December 31, 2018 , and no loan modifications considered to be TDR that occurred during the year ended December 31, 2017 . The pre- and post-modification recorded investment in TDR loans that have occurred during the years ended December 31, 2019 , 2018 and 2017 , totaled $0 , $560 and $0 , respectively. The financial impact of charge-offs or specific reserves for these modified loans was immaterial. TDR loans that have been modified within the twelve months ended December 31, 2019 , 2018 and 2017 , which have subsequently had a payment default, totaled $0 , $544 and $0 , respectively. A TDR loan is considered to have a payment default when it is past due 30 days or more. The following tables show the recorded investment in loans by credit quality indicator and loan segment as of December 31, 2019 and 2018 . December 31, 2019 Pass Watch Substandard Doubtful Total Commercial $ 410,070 $ 18,680 $ 2,294 $ — $ 431,044 Real estate: Construction, land and land development 264,132 61 — — 264,193 1-4 family residential first mortgages 52,168 1,841 466 — 54,475 Home equity 12,349 — 31 — 12,380 Commercial 1,146,472 28,475 77 — 1,175,024 Consumer and other 6,787 — — — 6,787 Total $ 1,891,978 $ 49,057 $ 2,868 $ — $ 1,943,903 December 31, 2018 Pass Watch Substandard Doubtful Total Commercial $ 336,861 $ 19,886 $ 2,016 $ — $ 358,763 Real estate: Construction, land and land development 245,810 — — — 245,810 1-4 family residential first mortgages 47,923 963 166 — 49,052 Home equity 14,352 46 71 — 14,469 Commercial 1,019,256 29,063 1,706 — 1,050,025 Consumer and other 6,186 — 25 — 6,211 Total $ 1,670,388 $ 49,958 $ 3,984 $ — $ 1,724,330 All loans are subject to the assessment of a credit quality indicator. Risk ratings are assigned for each loan at the time of approval, and they change as circumstances dictate during the term of the loan. The Company utilizes a 9-point risk rating scale as shown below, with ratings 1 - 5 included in the Pass column, rating 6 included in the Watch column, ratings 7 - 8 included in the Substandard column, and rating 9 included in the Doubtful column. All loans classified as impaired that are included in the specific evaluation of the allowance for loan losses are included in the Substandard column along with all other loans with ratings of 7 - 8. Risk rating 1: The loan is secured by cash equivalent collateral. Risk rating 2: The loan is secured by properly margined marketable securities, bonds or cash surrender value of life insurance. Risk rating 3: The borrower is in strong financial condition and has strong debt service capacity. The loan is performing as agreed, and the financial characteristics and trends of the borrower exceed industry statistics. Risk rating 4: The borrower’s financial condition is satisfactory and stable. The borrower has satisfactory debt service capacity, and the loan is well secured. The loan is performing as agreed, and the financial characteristics and trends fall in line with industry statistics. Risk rating 5: The borrower’s financial condition is less than satisfactory. The loan is still generally paying as agreed, but strained cash flow may cause some slowness in payments. The collateral values adequately preclude loss on the loan. Financial characteristics and trends lag industry statistics. There may be noncompliance with loan covenants. Risk rating 6: The borrower’s financial condition is deficient. Payment delinquencies may be more common. Collateral values still protect from loss, but margins are narrow. The loan may be reliant on secondary sources of repayment, including liquidation of collateral and guarantor support. Risk rating 7: The loan is inadequately protected by the current sound worth and paying capacity of the obligor or of the collateral pledged, if any. Well-defined weaknesses exist that jeopardize the liquidation of the debt. The Company is inadequately protected by the valuation or paying capacity of the collateral pledged. If deficiencies are not corrected, there is a distinct possibility that a loss will be sustained. Risk rating 8: All the characteristics of rating 7 exist with the added condition that the loan is past due more than 90 days or there is reason to believe the Company will not receive its principal and interest according to the terms of the loan agreement. Risk rating 9: All the weaknesses inherent in risk ratings 7 and 8 exist with the added condition that collection or liquidation, on the basis of currently known facts, conditions and values, is highly questionable and improbable. A loan reaching this category would most likely be charged off. Credit quality indicators for all loans and the Company’s risk rating process are dynamic and updated on a continuous basis. Risk ratings are updated as circumstances that could affect the repayment of an individual loan are brought to management’s attention through an established monitoring process. Individual lenders initiate changes as appropriate for ratings 1 through 5, and changes for ratings 6 through 9 are initiated via communications with management. The likelihood of loss increases as the risk rating increases and is generally preceded by a loan appearing on the Watch List, which consists of all loans with a risk rating of 6 or worse. Written action plans with firm target dates for resolution of identified problems are maintained and reviewed on a quarterly basis for all segments of loans included on the Watch List. In addition to the Company’s internal credit monitoring practices and procedures, an outsourced independent credit review function is in place to further assess assigned internal risk classifications and monitor compliance with internal lending policies and procedures. In all portfolio segments, the primary risks are that a borrower’s income stream diminishes to the point that it is not able to make scheduled principal and interest payments and any collateral securing the loan declines in value. The risk of declining collateral values is present for most types of loans. Commercial loans consist primarily of loans to businesses for various purposes, including revolving lines to finance current operations, inventory and accounts receivable, and capital expenditure loans to finance equipment and other fixed assets. These loans generally have short maturities, have either adjustable or fixed interest rates, and are either unsecured or secured by inventory, accounts receivable and/or fixed assets. For commercial loans, the primary source of repayment is from the operation of the business. Real estate loans include various types of loans for which the Company holds real property as collateral, and consist of loans on commercial properties and single and multifamily residences. Real estate loans are typically structured to mature or reprice every 5 to 10 years with payments based on amortization periods up to 30 years. The majority of construction loans are to contractors and developers for construction of commercial buildings or residential real estate. These loans typically have maturities of up to 24 months. The Company’s loan policy includes minimum appraisal and other credit guidelines. Consumer loans include loans extended to individuals for household, family and other personal expenditures not secured by real estate. The majority of the Company’s consumer lending is for vehicles, consolidation of personal debts and household improvements. The repayment source for consumer loans, including 1-4 family residential mortgages and home equity loans, is typically wages. The following tables detail changes in the allowance for loan losses by segment for the years ended December 31, 2019 , 2018 and 2017 . 2019 Real Estate Commercial Construction and Land 1-4 Family Residential Home Equity Commercial Consumer and Other Total Beginning balance $ 3,508 $ 2,384 $ 250 $ 171 $ 10,301 $ 75 $ 16,689 Charge-offs (452 ) — — — — — (452 ) Recoveries 290 — 14 74 12 8 398 Provision (1) 529 (9 ) (48 ) (118 ) 252 (6 ) 600 Ending balance $ 3,875 $ 2,375 $ 216 $ 127 $ 10,565 $ 77 $ 17,235 2018 Real Estate Commercial Construction and Land 1-4 Family Residential Home Equity Commercial Consumer and Other Total Beginning balance $ 3,866 $ 2,213 $ 319 $ 186 $ 9,770 $ 76 $ 16,430 Charge-offs (208 ) — — (24 ) — (3 ) (235 ) Recoveries 673 — 18 24 13 16 744 Provision (1) (823 ) 171 (87 ) (15 ) 518 (14 ) (250 ) Ending balance $ 3,508 $ 2,384 $ 250 $ 171 $ 10,301 $ 75 $ 16,689 2017 Real Estate Commercial Construction and Land 1-4 Family Residential Home Equity Commercial Consumer and Other Total Beginning balance $ 3,881 $ 2,639 $ 317 $ 478 $ 8,697 $ 100 $ 16,112 Charge-offs (199 ) — — (176 ) — — (375 ) Recoveries 232 398 15 28 13 7 693 Provision (1) (48 ) (824 ) (13 ) (144 ) 1,060 (31 ) — Ending balance $ 3,866 $ 2,213 $ 319 $ 186 $ 9,770 $ 76 $ 16,430 (1) The negative provisions for the various segments are either related to the decline in outstanding balances in each of those portfolio segments during the time periods disclosed and/or improvement in the credit quality factors related to those portfolio segments. The following tables show a breakdown of the allowance for loan losses disaggregated on the basis of impairment analysis method by segment as of December 31, 2019 and 2018 . December 31, 2019 Real Estate Commercial Construction and Land 1-4 Family Residential Home Equity Commercial Consumer and Other Total Ending balance: Individually evaluated for impairment $ — $ — $ — $ — $ — $ — $ — Collectively evaluated for impairment 3,875 2,375 216 127 10,565 77 17,235 Total $ 3,875 $ 2,375 $ 216 $ 127 $ 10,565 $ 77 $ 17,235 December 31, 2018 Real Estate Commercial Construction and Land 1-4 Family Residential Home Equity Commercial Consumer and Other Total Ending balance: Individually evaluated for impairment $ 15 $ — $ — $ — $ 100 $ — $ 115 Collectively evaluated for impairment 3,493 2,384 250 171 10,201 75 16,574 Total $ 3,508 $ 2,384 $ 250 $ 171 $ 10,301 $ 75 $ 16,689 The following tables show the recorded investment in loans, exclusive of unamortized fees and costs, disaggregated on the basis of impairment analysis method by segment as of December 31, 2019 and 2018 . December 31, 2019 Real Estate Commercial Construction and Land 1-4 Family Residential Home Equity Commercial Consumer and Other Total Ending balance: Individually evaluated for impairment $ 91 $ — $ 411 $ 31 $ 5 $ — $ 538 Collectively evaluated for impairment 430,953 264,193 54,064 12,349 1,175,019 6,787 1,943,365 Total $ 431,044 $ 264,193 $ 54,475 $ 12,380 $ 1,175,024 $ 6,787 $ 1,943,903 December 31, 2018 Real Estate Commercial Construction and Land 1-4 Family Residential Home Equity Commercial Consumer and Other Total Ending balance: Individually evaluated for impairment $ 1,029 $ — $ 106 $ 41 $ 752 $ — $ 1,928 Collectively evaluated for impairment 357,734 245,810 48,946 14,428 1,049,273 6,211 1,722,402 Total $ 358,763 $ 245,810 $ 49,052 $ 14,469 $ 1,050,025 $ 6,211 $ 1,724,330 |
Premises and Equipment, Net (No
Premises and Equipment, Net (Notes) | 12 Months Ended |
Dec. 31, 2019 | |
Property, Plant and Equipment, Net [Abstract] | |
Property, Plant and Equipment Disclosure [Text Block] | Premises and Equipment, Net Premises and equipment consisted of the following as of December 31, 2019 and 2018 . 2019 2018 Land $ 4,176 $ 4,323 Buildings 13,834 14,120 Right-of-use assets under operating leases 8,870 — Leasehold improvements 3,963 3,941 Furniture and equipment 8,592 7,927 39,435 30,311 Accumulated depreciation (9,755 ) (8,820 ) $ 29,680 $ 21,491 |
Operating Leases Operating Leas
Operating Leases Operating Leases (Notes) | 12 Months Ended |
Dec. 31, 2019 | |
Leases [Abstract] | |
Leases of Lessee Disclosure [Text Block] | The Company leases real estate for its main office, nine branch offices and office space for operations departments under various operating lease agreements. The lease agreements have maturity dates ranging from May 2021 to February 2033, some of which include options to renew at the Company's discretion. If at lease inception, the Company considers the exercising of a renewal option to be reasonably certain, the Company will include the extended term in the measurement of the right-of-use asset and lease liability. The weighted average remaining life of the lease term used in the measurement of the operating lease liability was 7.7 years as of December 31, 2019. The discount rate used in determining the lease liability for each individual lease was the FHLB fixed advance rate which corresponded with the remaining lease term as of January 1, 2019 for leases that existed at adoption of this accounting standard and as of the lease commencement date for leases entered into subsequent to January 1, 2019. The weighted average discount rate used in the measurement of the operating lease liabilities was 3.17 percent as of December 31, 2019. Operating lease right-of-use assets are included in premises and equipment. Operating lease liabilities of $9,102 are included in other liabilities as of December 31, 2019 . Rent expense related to these leases was $1,630 , $1,540 and $1,344 , for the years ended December 31, 2019 , 2018 and 2017 , respectively. Total estimated rental commitments for the operating leases were as follows as of December 31, 2019 . 2020 $ 1,681 2021 1,627 2022 1,583 2023 1,565 2024 910 Thereafter 2,972 Total lease payments 10,338 Less: present value discount (1,236 ) Present value of lease liabilities $ 9,102 |
Deposits (Notes)
Deposits (Notes) | 12 Months Ended |
Dec. 31, 2019 | |
Deposits [Abstract] | |
Deposit Liabilities Disclosures [Text Block] | Deposits The scheduled maturities of time deposits were as follows as of December 31, 2019 . 2020 $ 252,322 2021 23,614 2022 9,081 2023 4,959 2024 1,558 $ 291,534 Short-term brokered time deposits totaled $50,000 and none as of December 31, 2019 and 2018 , respectively. Time deposits as of December 31, 2019 and 2018 , included $95,889 and $92,315 , respectively, of Certificate of Deposit Account Registry Service deposits, which is a program that coordinates, on a reciprocal basis, a network of banks to spread deposits exceeding the FDIC insurance coverage limits out to numerous institutions in order to provide insurance coverage for all participating deposits. Also included in total deposits as of December 31, 2019 and 2018 , were $95,618 and $94,203 , respectively, of Insured Cash Sweep (ICS) interest-bearing checking and $235,411 and $232,146 , respectively, of ICS money market deposits. These are also reciprocal programs providing insurance coverage for all participating deposits. |
Subordinated Notes (Notes)
Subordinated Notes (Notes) | 12 Months Ended |
Dec. 31, 2019 | |
Junior Subordinated Debenture Owed to Unconsolidated Subsidiary Trust [Abstract] | |
Subordinated Borrowings Disclosure [Text Block] | Subordinated Notes On July 18, 2003, the Company issued $20,619 in junior subordinated debentures to the Company’s subsidiary trust, West Bancorporation Capital Trust I. The junior subordinated debentures are senior to the Company’s common stock. As a result, the Company must make payments on the junior subordinated debentures (and the related trust preferred securities) before any dividends can be paid on its common stock, and, in the event of the Company’s bankruptcy, dissolution or liquidation, the holders of the debentures must be satisfied before any distribution can be made to the holders of the common stock. The Company has the right to defer distributions on the junior subordinated debentures (and the related trust preferred securities) for up to five years , during which time no dividends may be paid to holders of the Company’s common stock. The junior subordinated debentures have a 30-year term, do not require any principal amortization, and are callable at the issuer’s option. The interest rate is a variable rate based on the 3-month LIBOR plus 3.05 percent . At December 31, 2019 , the interest rate was 5.01 percent . Interest is payable quarterly , unless deferred. The Company has never deferred an interest payment. The effective cost of the junior subordinated debentures at December 31, 2019 , including amortization of issuance costs, was 5.07 percent . Holders of the trust preferred securities associated with the junior subordinated debentures have no voting rights, are unsecured, and rank junior in priority to all the Company’s indebtedness and senior to the Company’s common stock. The junior subordinated debentures are reported net of unamortized debt issuance costs of $181 and $194 as of December 31, 2019 and 2018 , respectively. The Company has an interest rate swap contract that effectively converts $20,000 of the variable-rate junior subordinated debentures to a fixed rate. See Note 11 for additional information on the interest rate swap. In addition, the junior subordinated debentures qualify as Tier 1 capital of the Company for regulatory purposes. |
Federal Home Loan Bank Advances
Federal Home Loan Bank Advances (Notes) | 12 Months Ended |
Dec. 31, 2019 | |
Advances from Federal Home Loan Banks [Abstract] | |
Federal Home Loan Bank Advances, Disclosure [Text Block] | Federal Home Loan Bank and Other Borrowings The following table presents the terms of all FHLB advances as of December 31, 2019 and 2018 . December 31, 2019 December 31, 2018 Weighted Weighted Weighted Weighted Average Average Average Average Contractual Effective Contractual Effective Balance Rate Rate (1) Balance Rate Rate (1) Fixed-rate advances maturing: 2019 $ — — — $ 60,000 2.69 % 2.69 % 2020 125,000 1.87 % 2.21 % — — — Variable-rate advances maturing: 2019 — — — 25,000 3.08 % 5.03 % 2020 55,000 2.27 % 4.46 % 55,000 3.14 % 4.85 % 180,000 1.99 % 2.90 % 140,000 2.94 % 3.97 % Discount for modification (635 ) (2,122 ) FHLB advances, net of discount $ 179,365 $ 137,878 (1) The effective interest rate includes adjustments for discount amortization and interest rate swap terms, if applicable. Variable-rate advances are long-term advances. The Company has an interest rate swap contract that effectively converts $30,000 of variable-rate advances to a fixed rate. Fixed-rate advances are short-term advances. In 2019, the Company entered into interest rate swaps related to the interest cash flows of $125,000 of rolling short-term FHLB advances. See Note 11 for additional information on interest rate swaps hedging the FHLB advances. FHLB advances totaling $80,000 were modified on December 21, 2012, to extend their terms and to convert the borrowings to a variable rate that is tied to 3-month LIBOR. In connection with these modifications, the Company paid a prepayment fee of $11,152 , which is being amortized and recognized as interest expense over the remaining terms of the advances. For the years ended December 31, 2019 , 2018 and 2017 , the Company amortized $1,486 , $1,496 and $1,496 , respectively, of interest expense related to the discount. The FHLB advances are collateralized by FHLB stock and real estate loans, as required by the FHLB’s collateral policy. West Bank had additional borrowing capacity of approximately $322,000 at the FHLB as of December 31, 2019 . As of December 31, 2019 , West Bank had arrangements that would allow it to borrow $67,000 in unsecured federal funds lines of credit at correspondent banks that are available under the correspondent banks’ normal terms. The lines have no stated expiration dates. As of December 31, 2019 , there were no amounts outstanding under these arrangements. |
Long-term debt (Notes)
Long-term debt (Notes) | 12 Months Ended |
Dec. 31, 2019 | |
Debt Instruments [Abstract] | |
Long-term Debt [Text Block] | Long-Term Debt In May 2017, the Company entered into a credit agreement with an unaffiliated commercial bank and borrowed $25,000 . The borrowing was used to make a capital injection into West Bank in May 2017. In June 2019, the Company modified the principal payment requirements of the credit agreement. Under the terms of the modification, required principal payments of $625 begin in August 2020, with the balance due in May 2022. The Company may make additional principal payments without penalty. Interest under the term note is payable quarterly. The interest rate is variable at 1.95 percent plus 30-day LIBOR , which totaled 3.64 percent as of December 31, 2019 . In the event of default, the commercial bank may accelerate payment of the loan. The outstanding balance was $11,250 and $15,250 as of December 31, 2019 and 2018 , respectively. The note is secured by 100 percent of West Bank’s stock. The property purchased for the branch office in Coralville, Iowa, was financed with a $765 , nine year variable-payment contract with a fixed interest rate of 1.25 percent . The outstanding balance on the contract was $189 and $304 as of December 31, 2019 and 2018 , respectively. In December 2018, West Bank’s special purpose subsidiary entered into a credit agreement for $11,486 . Interest is payable monthly over the term of the agreement with an interest rate of one percent . Monthly principal payments begin in January 2026 and the agreement matures in December 2048. The outstanding balance was $11,486 as of December 31, 2019 and 2018. Future required principal payments for long-term debt as of December 31, 2019 are shown in the table below. 2020 $ 1,367 2021 2,537 2022 7,535 2023 — 2024 — Thereafter 11,486 $ 22,925 |
Derivatives (Notes)
Derivatives (Notes) | 12 Months Ended |
Dec. 31, 2019 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | Derivatives The Company has entered into various interest rate swap agreements as part of its interest rate risk management strategy. The Company uses interest rate swap agreements to manage its exposure to the variability of interest payments on variable-rate and short-term borrowings and deposits due to interest rate movements. The notional amounts of the interest rate swaps do not represent amounts exchanged by the counterparties, but rather, the notional amount is used to determine, along with other terms of the derivative, the amounts to be exchanged between the counterparties. As of December 31, 2019 and 2018, the Company had interest rate swaps with total notional amounts of $335,000 and $110,000 , respectively. As of December 31, 2019, the Company had swaps with a total notional amount of $125,000 that hedge the interest payments of rolling fixed-rate one- or three-month funding consisting of FHLB advances or brokered deposits, and forward starting swaps with a total notional amount of $50,000 , which will hedge the interest payments of rolling one-month funding consisting of FHLB advances or brokered deposits, with starting dates ranging from June 2020 to September 2020. Also as of December 31, 2019, the Company had swaps with a total notional amount of $50,000 that effectively convert variable-rate FHLB advances and junior subordinated notes to fixed-rate debt, and swaps with a total notional amount of $110,000 that hedge the interest payments of certain deposit accounts. All interest rate swaps have been designated as cash flow hedges. At the inception of each hedge transaction, the Company represented that the underlying principal balance would remain outstanding throughout the hedge transaction, making it probable that sufficient interest payments would exist through the maturity date of the swaps. The cash flow hedges were determined to be fully effective during the remaining terms of the swaps. Therefore, the aggregate fair value of the swaps is recorded in other assets or other liabilities with changes in market value recorded in OCI, net of deferred taxes. See Note 18 for additional fair value information and disclosures. The amounts included in AOCI will be reclassified to interest expense should the hedge no longer be considered effective. The Company estimates there will be approximately $751 reclassified from AOCI to interest expense through December 31, 2020 . The Company will continue to assess the effectiveness of the hedges on a quarterly basis. The Company is exposed to credit risk in the event of nonperformance by the interest rate swaps’ counterparties. The Company minimizes this risk by entering into derivative contracts with only large, stable financial institutions, and the Company has not experienced, and does not expect, any losses from counterparty nonperformance on the interest rate swaps. The Company monitors counterparty risk in accordance with the provisions of FASB ASC 815. In addition, the interest rate swap agreements contain language outlining collateral-pledging requirements for each counterparty. Collateral must be posted when the market value exceeds certain threshold limits. Derivative contracts are executed with a Credit Support Annex, which is a bilateral ratings-sensitive agreement that requires collateral postings at established credit threshold levels. These agreements protect the interests of the Company and its counterparties should either party suffer a credit rating deterioration. The Company was required to pledge $6,570 and $0 of cash as collateral to the counterparties as of December 31, 2019 and 2018 , respectively. The Company’s counterparties were required to pledge $0 and $2,410 at December 31, 2019 and 2018 , respectively. Interest rate swaps, with a total notional amount of $70,000 , were terminated in prior years, subject to termination fees totaling $541 . The termination fees are being reclassified from accumulated other comprehensive income to interest expense over the remaining life of the underlying cash flows through June 2020. The table below identifies the balance sheet category and fair values of the Company’s derivative instruments designated as cash flow hedges as of December 31, 2019 and 2018 . Notional Amount Fair Value Balance Sheet Category Weighted Average Floating Rate Received Weighted Average Fixed Rate Paid Weighted Average Maturity - Years December 31, 2019 Interest rate swaps $ 215,000 $ (5,786 ) Other Liabilities 1.84 % 2.26 % 5.5 Interest rate swaps 70,000 403 Other Assets 2.62 % 2.37 % 5.2 Forward starting interest rate swaps (1) 50,000 (343 ) Other Liabilities — 1.74 % 6.1 December 31, 2018 Interest rate swaps $ 110,000 $ 1,863 Other Assets 3.22 % 2.82 % 5.7 (1)The fixed rate for forward starting swaps represents the fixed rate to be paid beginning on the scheduled start dates of the swaps. No interest payments were required related to these swaps in 2019. The following table identifies the pretax gains or losses recognized on the Company’s derivative instruments designated as cash flow hedges for the years ended December 31, 2019 , 2018 and 2017 . Amount of Pretax Gain (Loss) Recognized in OCI Reclassified from AOCI into Income Years Ended: Category Amount of Gain (Loss) December 31, 2019 $ (7,355 ) Interest Expense $ 142 December 31, 2018 $ 1,044 Interest Expense $ (105 ) December 31, 2017 $ (66 ) Interest Expense $ (413 ) |
Income Taxes (Notes)
Income Taxes (Notes) | 12 Months Ended |
Dec. 31, 2019 | |
Income Tax Disclosure [Abstract] | |
Income Tax Disclosure [Text Block] | Income Taxes The Company files income tax returns in the U.S. federal and various state jurisdictions. Income tax returns for the years 2016 through 2019 remain open to examination by federal and state taxing authorities. No material income tax related interest or penalties were recognized during the years ended December 31, 2019 , 2018 or 2017 . The following table shows the components of income taxes for the years ended December 31, 2019 , 2018 and 2017 . 2019 2018 2017 Current: Federal $ 5,112 $ 5,012 $ 8,822 State 1,973 1,907 1,713 Deferred: Federal (17 ) (277 ) 2,527 State (16 ) (82 ) 306 Income taxes $ 7,052 $ 6,560 $ 13,368 Total income taxes for the years ended December 31, 2019 and 2018 differed from the amount computed by applying the U.S. federal income tax rate of 21 percent to income before income taxes, and for the year ended December 31, 2017, total income taxes differed by the amount computed by applying the U.S. federal income tax rate of 35 percent to income before income taxes, as shown in the following table. 2019 2018 2017 Amount Percent of Pretax Income Amount Percent of Pretax Income Amount Percent of Pretax Income Computed expected tax expense $ 7,506 21.0 % $ 7,364 21.0 % $ 12,753 35.0 % State income tax expense, net of federal income tax benefit 1,543 4.3 % 1,425 4.1 % 1,146 3.2 % Tax-exempt interest income (804 ) (2.2 )% (1,390 ) (4.0 )% (2,023 ) (5.6 )% Nondeductible interest expense to own tax-exempt securities 183 0.5 % 231 0.7 % 152 0.4 % Tax-exempt increase in cash value of life insurance and gains (135 ) (0.4 )% (132 ) (0.4 )% (336 ) (0.9 )% Stock compensation (13 ) — (219 ) (0.6 )% (261 ) (0.7 )% Effect of change in federal income tax rate — — — — 2,340 6.4 % Amended tax returns — — 222 0.6 % — — Federal income tax credits (1,265 ) (3.5 )% (1,140 ) (3.3 )% (410 ) (1.1 )% Other, net 37 0.1 % 199 0.6 % 7 — Income taxes $ 7,052 19.8 % $ 6,560 18.7 % $ 13,368 36.7 % On December 22, 2017, the Tax Cuts and Jobs Act was signed into law. The Tax Cuts and Jobs Act reduced the federal corporate income tax rate from the previous maximum rate of 35 percent to 21 percent effective for 2018 and future years. The enactment of the legislation and the reduction in the federal income tax rate required a one-time reduction in net deferred tax assets and an increase in tax expense of $2,340 as shown in the table above for the year ended December 31, 2017. Net deferred tax assets consisted of the following components as of December 31, 2019 and 2018 . 2019 2018 Deferred tax assets: Allowance for loan losses $ 4,309 $ 4,172 Net unrealized losses on securities available for sale — 2,708 Net unrealized losses on interest rate swaps 1,441 — Lease liabilities 2,275 — Accrued expenses 297 346 Restricted stock unit compensation 832 704 State net operating loss carryforward 1,114 1,021 Capital loss carryforward 3 — Other 53 67 10,324 9,018 Deferred tax liabilities: Right-of-use assets 2,218 — Deferred loan costs 218 183 Net unrealized gains on securities available for sale 352 — Net unrealized gains on interest rate swaps — 429 Premises and equipment 839 694 Other 219 173 3,846 1,479 Net deferred tax assets before valuation allowance 6,478 7,539 Valuation allowance for deferred tax assets (1,117 ) (1,021 ) Net deferred tax assets $ 5,361 $ 6,518 As of December 31, 2019 , the Company had approximately $27,862 of Iowa net operating loss carryforwards available to offset future Iowa taxable income. The Company also had approximately $13 of federal and state capital loss carryforwards available to offset future capital gains. The Company has recorded a valuation allowance against the tax effect of the Iowa net operating loss carryforwards and federal and state capital loss carryforwards, as management believes it is more likely than not that such carryforwards will expire without being utilized. Iowa net operating loss carryforwards of $73 expired in 2019 and the remainder will expire thereafter. The federal and state capital loss carryforwards expire in 2022 . |
Stock Compensation Plans (Notes
Stock Compensation Plans (Notes) | 12 Months Ended |
Dec. 31, 2019 | |
Share-based Payment Arrangement [Abstract] | |
Share-based Payment Arrangement [Text Block] | Stock Compensation Plans The West Bancorporation, Inc. 2017 Equity Incentive Plan (the 2017 Plan) was approved by the stockholders in April 2017. The 2017 Plan replaced the West Bancorporation, Inc. 2012 Equity Incentive Plan (the 2012 Plan). Upon approval of the 2017 Plan, the 2012 Plan was frozen, and no new grants will be made under that plan. Outstanding awards under the 2012 Plan will continue pursuant to their terms and provisions. The 2017 Plan and the 2012 Plan are administered by the Compensation Committee of the Board of Directors, which determines the specific individuals who will be granted awards under the 2017 Plan and the type and amount of any such awards. All employees and directors of, and service providers to, the Company and its subsidiary are eligible to become participants in the 2017 Plan, except that nonemployees may not be granted incentive stock options. Under the terms of the 2017 Plan, the Company may grant a total of 800,000 shares of the Company’s common stock as nonqualified and incentive stock options, stock appreciation rights and stock awards. As of December 31, 2019 , 485,500 shares of the Company’s common stock remained available for future awards under the 2017 Plan. Under the 2017 Plan, the Company may grant RSU awards, as determined by the Compensation Committee, that vest upon the completion of future service requirements or specified performance criteria. All RSUs granted through December 31, 2019 under the 2017 and 2012 Plans were at no cost to the participants, and the participants will not be entitled to receive or accrue dividends until the RSUs have vested. Each RSU entitles the participant to receive one share of common stock on the vesting date or upon the participant’s termination due to death or disability, or upon a change in control of the Company if the RSUs are not fully assumed or if the RSUs are assumed and the participant’s employment is thereafter terminated by the Company without cause or by the participant for good reason. If a participant terminates employment prior to the end of the continuous service period other than due to death, disability or retirement, the award is forfeited. If a participant terminates service due to retirement, the RSUs will continue to vest, subject to provisions of the 2017 and 2012 Plans. The following table includes a summary of nonvested RSU activity for the years ended December 31, 2019 , 2018 and 2017 . 2019 2018 2017 Weighted Weighted Weighted Average Average Average Grant Date Grant Date Grant Date Fair Value Fair Value Fair Value (actual amounts, not in thousands) Shares Per Share Shares Per Share Shares Per Share Nonvested shares, beginning balance 354,350 $ 22.13 339,300 $ 19.55 307,268 $ 17.46 Granted 154,000 20.00 136,500 25.81 138,500 22.06 Vested (127,750 ) 21.38 (121,450 ) 19.05 (106,468 ) 16.79 Forfeited — — — — — — Nonvested shares, ending balance 380,600 $ 21.52 354,350 $ 22.13 339,300 $ 19.55 The fair value of RSU awards that vested during 2019 , 2018 and 2017 was $2,540 , $3,144 and $2,371 , respectively. Total compensation costs, including director compensation, recorded for the RSUs were $2,993 , $2,741 and $2,632 for the years ended December 31, 2019 , 2018 and 2017 , respectively. The tax benefit related to vesting of RSUs totaled $15 , $261 and $285 , respectively, for the years ended December 31, 2019 , 2018 and 2017 . As of December 31, 2019 , there was $3,947 of unrecognized compensation cost related to nonvested RSUs, and the weighted average period over which these remaining costs are expected to be recognized was approximately 1.5 years. |
Employee Savings and Stock Owne
Employee Savings and Stock Ownership Plan (Notes) | 12 Months Ended |
Dec. 31, 2019 | |
Employee Savings and Stock Ownership Plan [Abstract] | |
Compensation and Employee Benefit Plans [Text Block] | Plan The Company has a defined contribution plan covering substantially all of its employees. Matching and discretionary contributions are determined annually by the Board of Directors. The Company matched 100 percent of the first six percent of employee deferrals and made an annual discretionary contribution of four percent of eligible employee compensation for the years ended December 31, 2019 , 2018 and 2017 . Total matching and discretionary contribution expense for the years ended December 31, 2019 , 2018 and 2017 , totaled $1,107 , $1,040 and $961 , respectively. As of December 31, 2019 and 2018 , the plan held 328,881 and 306,678 shares, respectively, of the Company’s common stock. These shares are included in the computation of earnings per share. Dividends on shares held in the plan may be reinvested in Company common stock or paid in cash to the participants, at the election of the participants. |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income (Notes) | 12 Months Ended |
Dec. 31, 2019 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Comprehensive Income (Loss) Note [Text Block] | Comprehensive Income (Loss) The following table summarizes the changes in the balances of each component of AOCI, net of tax, for the years ended December 31, 2019 , 2018 and 2017 . Unrealized Accumulated Unrealized Gains Other Gains (Losses) (Losses) on Comprehensive on Securities Derivatives Income (Loss) Balance, December 31, 2016 $ (1,172 ) $ 130 $ (1,042 ) Other comprehensive loss before reclassifications (697 ) (41 ) (738 ) Amounts reclassified from accumulated other comprehensive income (368 ) 256 (112 ) Net current period other comprehensive income (loss) (1,065 ) 215 (850 ) Balance, December 31, 2017 (2,237 ) 345 (1,892 ) Transfer of securities held to maturity to securities available for sale 273 — 273 Other comprehensive income (loss) before reclassifications (5,856 ) 784 (5,072 ) Amounts reclassified from accumulated other comprehensive income 172 75 247 Net current period other comprehensive income (loss) (5,411 ) 859 (4,552 ) Reclassification of stranded tax effects (475 ) 105 (370 ) Balance, December 31, 2018 (8,123 ) 1,309 (6,814 ) Other comprehensive income (loss) before reclassifications 9,115 (5,517 ) 3,598 Amounts reclassified from accumulated other comprehensive income 65 (110 ) (45 ) Net current period other comprehensive income (loss) 9,180 (5,627 ) 3,553 Balance, December 31, 2019 $ 1,057 $ (4,318 ) $ (3,261 ) |
Regulatory Capital Requirements
Regulatory Capital Requirements (Notes) | 12 Months Ended |
Dec. 31, 2019 | |
Broker-Dealer, Net Capital Requirement, SEC Regulation [Abstract] | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | Regulatory Capital Requirements The Company and West Bank are subject to various regulatory capital requirements administered by federal and state banking agencies. Failure to meet minimum capital requirements (as shown in the following table) can result in certain mandatory and possibly additional discretionary actions by regulators which, if undertaken, could have a direct material effect on the Company’s consolidated financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company and West Bank must meet specific capital guidelines that involve quantitative measures of their assets, liabilities and certain off-balance-sheet items as calculated under regulatory requirements. The Company’s and West Bank’s capital amounts and classifications are also subject to qualitative judgments by the regulators about components, risk weightings and other factors. Management believes the Company and West Bank met all capital adequacy requirements to which they were subject as of December 31, 2019 . The Company’s and West Bank’s capital ratios are presented in the following tables as of December 31, 2019 and 2018 . Actual For Capital Adequacy Purposes For Capital Adequacy Purposes With Capital Conservation Buffer To Be Well-Capitalized Under Prompt Corrective Action Provisions Amount Ratio Amount Ratio Amount Ratio Amount Ratio As of December 31, 2019: Total Capital (to Risk-Weighted Assets) Consolidated $ 252,316 11.40 % $ 177,013 8.00 % $ 232,330 10.50 % N/A N/A West Bank 259,644 11.74 % 176,970 8.00 % 232,273 10.50 % $ 221,212 10.00 % Tier 1 Capital (to Risk-Weighted Assets) Consolidated 235,081 10.62 % 132,760 6.00 % 188,077 8.50 % N/A N/A West Bank 242,409 10.96 % 132,727 6.00 % 188,030 8.50 % 176,970 8.00 % Common Equity Tier 1 Capital (to Risk-Weighted Assets) Consolidated 215,081 9.72 % 99,570 4.50 % 154,887 7.00 % N/A N/A West Bank 242,409 10.96 % 99,546 4.50 % 154,849 7.00 % 143,788 6.50 % Tier 1 Capital (to Average Assets) Consolidated 235,081 9.53 % 98,693 4.00 % 98,693 4.00 % N/A N/A West Bank 242,409 9.83 % 98,656 4.00 % 98,656 4.00 % 123,320 5.00 % As of December 31, 2018: Total Capital (to Risk-Weighted Assets) Consolidated $ 234,526 11.50 % $ 163,213 8.00 % $ 201,466 9.875 % N/A N/A West Bank 245,962 12.07 % 163,076 8.00 % 201,297 9.875 % $ 203,845 10.00 % Tier 1 Capital (to Risk-Weighted Assets) Consolidated 217,837 10.68 % 122,410 6.00 % 160,663 7.875 % N/A N/A West Bank 229,273 11.25 % 122,307 6.00 % 160,528 7.875 % 163,076 8.00 % Common Equity Tier 1 Capital (to Risk-Weighted Assets) Consolidated 197,837 9.70 % 91,807 4.50 % 130,060 6.375 % N/A N/A West Bank 229,273 11.25 % 91,730 4.50 % 129,951 6.375 % 132,499 6.50 % Tier 1 Capital (to Average Assets) Consolidated 217,837 9.74 % 89,485 4.00 % 89,485 4.00 % N/A N/A West Bank 229,273 10.26 % 89,410 4.00 % 89,410 4.00 % 111,762 5.00 % On January 1, 2015, the Company and West Bank became subject to the rules of the Basel III Rule and related Dodd-Frank Wall Street Reform and Consumer Protection Act changes. The rules included the implementation of a capital conservation buffer that is added to the minimum requirements for capital adequacy purposes. The capital conservation buffer was subject to a three year phase-in period that began January 1, 2016 and was fully phased-in on January 1, 2019 at 2.5 percent. The required phase-in capital conservation buffer was 1.875 percent during 2018 . A banking organization with a conservation buffer of less than the required amount will be subject to limitations on capital distributions, including dividend payments and certain discretionary bonus payments to executive officers. As of December 31, 2019 , the ratios for the Company and West Bank were sufficient to meet the conservation buffer. The ability of the Company to pay dividends to its stockholders is dependent upon dividends paid by its subsidiary, West Bank. There are currently no additional restrictions on such dividends other than the general restrictions imposed on all Iowa state-chartered banks by applicable law. The Company’s tangible common equity ratio was 8.56 percent and 8.32 percent at December 31, 2019 and 2018 , respectively. The tangible common equity ratio is computed by dividing total equity less preferred stock and intangible assets by total assets less intangible assets. As of December 31, 2019 and 2018 , the Company had no intangible assets or preferred stock. |
Commitments and Contingencies (
Commitments and Contingencies (Notes) | 12 Months Ended |
Dec. 31, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies Disclosure [Text Block] | Commitments and Contingencies Required reserve balances : West Bank is required to maintain an average reserve balance with the Federal Reserve Bank, which is included in cash and due from banks. Required reserve balances were approximately $4,836 and $4,527 as of December 31, 2019 and 2018 , respectively. Financial instruments with off-balance sheet risk : The Company is party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit and standby letters of credit. These instruments involve, to varying degrees, elements of credit risk in excess of the amount recognized in the consolidated balance sheets. The Company’s exposure to credit loss in the event of nonperformance by the other party to the financial instrument for commitments to extend credit and standby letters of credit is represented by the contractual amount of those instruments. The Company uses the same credit policies in making commitments and conditional obligations that it uses for on-balance sheet instruments. Commitments to lend are subject to borrowers’ continuing compliance with existing credit agreements. The Company’s commitments consisted of the following approximate amounts as of December 31, 2019 and 2018 . 2019 2018 Commitments to extend credit $ 672,117 $ 641,581 Standby letters of credit 8,029 6,631 $ 680,146 $ 648,212 Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract and generally expire within one year. Commitments to extend credit of approximately $87,715 at December 31, 2019 , expire beyond one year. Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. The Company evaluates each customer’s creditworthiness on a case-by-case basis. The amount of collateral obtained is based on management’s credit evaluation of the party. Collateral held varies, but may include accounts receivable, inventory, equipment, and residential and commercial real estate. Standby letters of credit are conditional commitments issued by the Company to guarantee the performance of a customer to a third party and generally expire within one year. Those guarantees are primarily issued to support public and private borrowing arrangements. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loan facilities to customers. Collateral held varies as specified above and is required in instances the Company deems necessary. In the event the customer does not perform in accordance with the terms of the third-party agreement, West Bank would be required to fund the commitment. The maximum potential amount of future payments West Bank could be required to make is represented by the contractual amount for letters of credit shown in the table above. If the commitment is funded, West Bank would be entitled to seek recovery from the customer. At December 31, 2019 and 2018 , no amounts have been recorded as liabilities for West Bank’s potential obligations under these guarantees. West Bank previously executed MPF Master Commitments (Commitments) with the FHLB of Des Moines to deliver residential mortgage loans and to guarantee the payment of any realized losses that exceed the FHLB’s first loss account for mortgages delivered under the Commitments. West Bank receives credit enhancement fees from the FHLB for providing this guarantee and continuing to assist with managing the credit risk of the MPF Program residential mortgage loans. The term of the most recent Commitment was through January 16, 2015 and was not renewed. The outstanding balance of mortgage loans sold under the MPF Program was $63,409 and $78,024 at December 31, 2019 and 2018 , respectively. The Company had commitments to invest in qualified affordable housing projects totaling $2,042 and $4,421 as of December 31, 2019 and 2018 , respectively. Concentrations of credit risk : Substantially all of the Company’s loans, commitments to extend credit and standby letters of credit have been granted to customers in the Company’s market areas. The concentrations of credit by type of loan are set forth in Note 4. The distribution of commitments to extend credit approximates the distribution of loans outstanding. Standby letters of credit were granted primarily to commercial borrowers. Contingencies : Neither the Company nor West Bank is a party, and no property of these entities is subject, to any material pending legal proceedings, other than ordinary routine litigation incidental to West Bank’s business. The Company does not know of any proceeding contemplated by a governmental authority against the Company or West Bank. |
Fair Value Measurements (Notes)
Fair Value Measurements (Notes) | 12 Months Ended |
Dec. 31, 2019 | |
Fair Value Disclosures [Abstract] | |
Fair Value Disclosures [Text Block] | Fair Value Measurements Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants in the market in which the reporting entity transacts business. The Company’s balance sheet contains investment securities available for sale and derivative instruments that are recorded at fair value on a recurring basis. The three-level valuation hierarchy for disclosure of fair value is as follows: Level 1 uses quoted market prices in active markets for identical assets or liabilities. Level 2 uses observable market-based inputs or unobservable inputs that are corroborated by market data. Level 3 uses unobservable inputs that are not corroborated by market data. The Company’s policy is to recognize transfers between Levels at the end of each reporting period, if applicable. There were no transfers between Levels of the fair value hierarchy during 2019 or 2018 . The following is a description of valuation methodologies used for financial assets and liabilities recorded at fair value on a recurring basis. Investment securities available for sale: When available, quoted market prices are used to determine the fair value of investment securities (Level 1). If quoted market prices are not available, the Company determines fair value based on various sources and may apply matrix pricing with observable prices for similar bonds where a price for the identical bond is not observable (Level 2). The fair values of these securities are determined by pricing models that consider observable market data such as interest rate volatilities, LIBOR yield curve, credit spreads, prices from market makers and live trading systems. For the corporate bond portfolio, the Company has elected to use a matrix pricing model as a practical expedient to individual quoted market prices. Generally, management obtains the fair value of investment securities at the end of each reporting period via a third-party pricing service. Management reviewed the valuation process used by the third party and believed that process was valid. On a quarterly basis, management corroborates the fair values of a randomly selected sample of investment securities by obtaining pricing from an independent source and compares the two sets of fair values. Any significant variances are reviewed and investigated. For a sample of securities, the fair values are further validated by management, by obtaining details of the inputs used by the pricing service. Those inputs were independently tested, and management concluded the fair values were consistent with GAAP requirements and the investment securities were properly classified in the fair value hierarchy. Derivative instruments: The Company’s derivative instruments consist of interest rate swaps, which are accounted for as cash flow hedges. The Company’s derivative positions are classified within Level 2 of the fair value hierarchy and are valued using models generally accepted in the financial services industry and that use actively quoted or observable market input values from external market data providers and/or nonbinding broker-dealer quotations. The fair value of the derivatives are determined using discounted cash flow models. These models’ key assumptions include the contractual terms of the respective contract along with significant observable inputs, including interest rates, yield curves, nonperformance risk and volatility. The following tables present the balances of financial assets and liabilities measured at fair value on a recurring basis by level as of December 31, 2019 and 2018 . 2019 Description Total Level 1 Level 2 Level 3 Financial assets: Investment securities available for sale: State and political subdivisions $ 47,178 $ — $ 47,178 $ — Collateralized mortgage obligations 181,921 — 181,921 — Mortgage-backed securities 73,030 — 73,030 — Asset-backed securities 17,600 — 17,600 — Collateralized loan obligations 64,832 — 64,832 — Corporate notes 14,017 — 14,017 — Derivative instrument, interest rate swaps 403 — 403 — Financial liabilities: Derivative instrument, interest rate swap $ 6,129 $ — $ 6,129 $ — 2018 Description Total Level 1 Level 2 Level 3 Financial assets: Investment securities available for sale: State and political subdivisions $ 149,156 $ — $ 149,156 $ — Collateralized mortgage obligations 157,004 — 157,004 — Mortgage-backed securities 63,378 — 63,378 — Asset-backed securities 31,903 — 31,903 — Trust preferred security 1,900 — 1,900 — Corporate notes 50,417 — 50,417 — Derivative instrument, interest rate swap 1,863 — 1,863 — Certain assets are measured at fair value on a nonrecurring basis. That is, they are subject to fair value adjustments in certain circumstances (for example, when there is evidence of impairment). As of December 31, 2019 , there were no impaired loans that had a fair value adjustment. As of December 31, 2018 , impaired loans with a fair value adjustment had a net book value of $0 . Impaired loans are classified within Level 3 of the fair value hierarchy and are evaluated and valued at the lower of cost or fair value when the loan is identified as impaired. Fair value is measured based on the value of the collateral securing these loans. The types of collateral vary widely and could include accounts receivable, inventory, a variety of equipment and real estate. Evaluations of the underlying assets are completed for each impaired loan with a specific reserve. Collateral evaluations are reviewed and discounted as appropriate based on knowledge of the specific type of collateral. In the case of real estate, an independent appraisal may be obtained. Types of discounts considered included aging of receivables, condition of the collateral, potential market for the collateral and estimated disposal costs. These discounts will vary from loan to loan and may be discounted based on management’s opinions concerning market developments or the client’s business. GAAP requires disclosure of the fair value of financial assets and liabilities, including those that are not measured and reported at fair value on a recurring or nonrecurring basis. The following table presents the carrying amounts and approximate fair values of financial assets and liabilities as of December 31, 2019 and 2018 . 2019 2018 Fair Value Hierarchy Level Carrying Amount Approximate Fair Value Carrying Amount Approximate Fair Value Financial assets: Cash and due from banks Level 1 $ 37,808 $ 37,808 $ 46,369 $ 46,369 Federal funds sold Level 1 15,482 15,482 1,105 1,105 Investment securities available for sale Level 2 398,578 398,578 453,758 453,758 Federal Home Loan Bank stock Level 1 12,491 12,491 12,037 12,037 Loans, net Level 2 1,924,428 1,941,208 1,705,141 1,688,700 Accrued interest receivable Level 1 7,134 7,134 7,631 7,631 Interest rate swaps Level 2 403 403 1,863 1,863 Financial liabilities: Deposits Level 2 $ 2,014,756 $ 2,015,427 $ 1,894,529 $ 1,893,621 Federal funds purchased Level 1 2,660 2,660 19,985 19,985 Subordinated notes, net Level 2 20,438 18,568 20,425 15,498 Federal Home Loan Bank advances, net Level 2 179,365 179,365 137,878 137,878 Long-term debt, net Level 2 22,925 22,910 27,040 27,000 Accrued interest payable Level 1 2,070 2,070 1,317 1,317 Interest rate swap Level 2 6,129 6,129 — — Off-balance-sheet financial instruments: Commitments to extend credit Level 3 — — — — Standby letters of credit Level 3 — — — — |
West Bancorporation, Inc. (Pare
West Bancorporation, Inc. (Parent Company Only) Condensed Financial Statements (Notes) | 12 Months Ended |
Dec. 31, 2019 | |
Condensed Financial Information Disclosure [Abstract] | |
Condensed Financial Information of Parent Company Only Disclosure [Text Block] | West Bancorporation, Inc. (Parent Company Only) Condensed Financial Statements Balance Sheets December 31, 2019 and 2018 2019 2018 ASSETS Cash $ 4,122 $ 3,951 Investment in West Bank 239,147 221,559 Investment in West Bancorporation Capital Trust I 619 619 Other assets 6 1,232 Total assets $ 243,894 $ 227,361 LIABILITIES AND STOCKHOLDERS’ EQUITY LIABILITIES Accrued expenses and other liabilities $ 386 $ 663 Subordinated notes, net 20,438 20,425 Long-term debt 11,250 15,250 Total liabilities 32,074 36,338 STOCKHOLDERS’ EQUITY Preferred stock — — Common stock 3,000 3,000 Additional paid-in capital 27,260 25,128 Retained earnings 184,821 169,709 Accumulated other comprehensive loss (3,261 ) (6,814 ) Total stockholders’ equity 211,820 191,023 Total liabilities and stockholders’ equity $ 243,894 $ 227,361 Statements of Income Years Ended December 31, 2019, 2018 and 2017 2019 2018 2017 Operating income: Equity in net income of West Bank $ 30,205 $ 30,282 $ 23,933 Equity in net income of West Bancorporation Capital Trust I 35 33 27 Intercompany rental income — — 333 Other rental income — — 21 Total operating income 30,240 30,315 24,314 Operating expenses: Interest on subordinated notes 1,022 1,076 901 Interest on long-term debt 519 750 517 Occupancy — — 187 Other expenses 498 530 602 Total operating expenses 2,039 2,356 2,207 Income before income taxes 28,201 27,959 22,107 Income tax benefits (489 ) (549 ) (963 ) Net income $ 28,690 $ 28,508 $ 23,070 Statements of Cash Flows Years Ended December 31, 2019, 2018 and 2017 2019 2018 2017 Cash Flows from Operating Activities: Net income $ 28,690 $ 28,508 $ 23,070 Adjustments to reconcile net income to net cash provided by operating activities: Equity in net income of West Bank (30,205 ) (30,282 ) (23,933 ) Equity in net income of West Bancorporation Capital Trust I (35 ) (33 ) (27 ) Dividends received from West Bank 19,200 22,300 16,800 Dividends received from West Bancorporation Capital Trust I 35 33 27 Amortization 13 13 17 Depreciation — — 178 Deferred income taxes 43 — (240 ) Change in assets and liabilities: Decrease in other assets 28 107 50 Increase (decrease) in accrued expenses and other liabilities (20 ) 25 (549 ) Net cash provided by operating activities 17,749 20,671 15,393 Cash Flows from Investing Activities: Proceeds from sales of premises — — 18,032 Purchases of premises — — (16 ) Capital contribution to West Bank — — (40,000 ) Net cash used in investing activities — — (21,984 ) Cash Flows from Financing Activities: Proceeds from long-term debt — — 22,000 Principal payments on long-term debt (4,000 ) (7,250 ) (4,629 ) Common stock cash dividends (13,578 ) (12,696 ) (11,499 ) Net cash provided by (used in) financing activities (17,578 ) (19,946 ) 5,872 Net increase (decrease) in cash 171 725 (719 ) Cash: Beginning 3,951 3,226 3,945 Ending $ 4,122 $ 3,951 $ 3,226 |
Selected Quarterly Financial Da
Selected Quarterly Financial Data (unaudited) (Notes) | 12 Months Ended |
Dec. 31, 2019 | |
Selected Quarterly Financial Information [Abstract] | |
Quarterly Financial Information [Text Block] | Selected Quarterly Financial Data (unaudited) 2019 Three months ended March 31 June 30 September 30 December 31 Interest income $ 23,651 $ 24,335 $ 25,612 $ 25,077 Interest expense 7,762 8,297 8,496 7,690 Net interest income 15,889 16,038 17,116 17,387 Provision for loan losses — — 300 300 Net interest income after provision for loan losses 15,889 16,038 16,816 17,087 Noninterest income 2,119 1,999 2,158 2,042 Noninterest expense 9,544 9,750 9,536 9,576 Income before income taxes 8,464 8,287 9,438 9,553 Income taxes 1,565 1,629 1,912 1,946 Net income $ 6,899 $ 6,658 $ 7,526 $ 7,607 Basic earnings per common share $ 0.42 $ 0.41 $ 0.46 $ 0.46 Diluted earnings per common share $ 0.42 $ 0.41 $ 0.46 $ 0.46 2018 Three months ended March 31 June 30 September 30 December 31 Interest income $ 19,730 $ 20,537 $ 21,920 $ 22,606 Interest expense 4,314 5,238 6,233 6,950 Net interest income 15,416 15,299 15,687 15,656 Provision for loan losses 150 — (400 ) — Net interest income after provision for loan losses 15,266 15,299 16,087 15,656 Noninterest income 1,913 2,023 2,114 1,702 Noninterest expense 8,287 8,958 8,561 9,186 Income before income taxes 8,892 8,364 9,640 8,172 Income taxes 1,508 1,600 2,507 945 Net income $ 7,384 $ 6,764 $ 7,133 $ 7,227 Basic earnings per common share $ 0.46 $ 0.42 $ 0.44 $ 0.44 Diluted earnings per common share $ 0.45 $ 0.41 $ 0.43 $ 0.44 |
Organization and Nature of Bu_2
Organization and Nature of Business and Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2019 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Use of Estimates, Policy [Policy Text Block] | Accounting estimates and assumptions : The consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles (GAAP) established by the Financial Accounting Standards Board (FASB). References to GAAP issued by the FASB in these footnotes are to the FASB Accounting Standards Codification TM , sometimes referred to as the Codification or ASC. In preparing the consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses for the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term are the fair value of investment securities and derivatives, and the allowance for loan losses. |
Consolidation, Policy [Policy Text Block] | Consolidation policy : The consolidated financial statements include the accounts of the Company, West Bank and West Bank’s special purpose subsidiaries (which facilitated an investment in new market tax credit activity in 2018) and WB Funding Corporation (which was liquidated in March 2018). All significant intercompany transactions and balances have been eliminated in consolidation. In addition, the Company owns an unconsolidated subsidiary, West Bancorporation Capital Trust I (the Trust), which was formed for the purpose of issuing trust preferred securities. In accordance with GAAP, the results of the Trust are recorded on the books of the Company using the equity method of accounting and are not consolidated. |
Segment Reporting, Policy [Policy Text Block] | Segment information: An operating segment is generally defined as a component of a business for which discrete financial information is available and whose operating results are regularly reviewed by the chief operating decision-maker. As a community-oriented financial institution, substantially all of West Bank’s operations involve the delivery of loan and deposit products to customers. Management makes operating decisions and assesses performance based on an ongoing review of the community banking activities, which constitutes the Company’s only operating segment for financial reporting purposes. |
Comprehensive Income, Policy [Policy Text Block] | Comprehensive income : Comprehensive income consists of net income and other comprehensive income (OCI). OCI consists of the net change in unrealized gains and losses on the Company’s investment securities available for sale, including the noncredit-related portion of unrealized gains (losses) of other than temporarily impaired (OTTI) securities, if any, and the change in fair value of derivative instruments. OCI also includes the amortization of derivative termination costs and the amortization of unrealized gains on investment securities transferred from available for sale to held to maturity. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and cash equivalents and cash flows : For statement of cash flow purposes, the Company considers cash, due from banks and federal funds sold to be cash and cash equivalents. Cash inflows and outflows from loans, deposits, federal funds purchased and FHLB advances are reported on a net basis. |
Investment Securities, Policy [Policy Text Block] | Investment securities : Investment securities that may be sold for general liquidity needs, in response to market interest rate fluctuations, implementation of asset-liability management strategies, funding loan demand, changes in securities prepayment risk or other similar factors are classified as available for sale and reported at fair value, with unrealized gains and losses reported as a separate component of accumulated other comprehensive income (AOCI), net of deferred income taxes. Realized gains and losses on sales of investment securities are computed on a specific identification basis based on amortized cost. The amortized cost of debt securities is adjusted for accretion of discounts to maturity and amortization of premiums over the estimated average life of each security or, in the case of callable securities, through the first call date, using the effective yield method. Such amortization and accretion is included in interest income. Interest income on securities is recognized using the interest method according to the terms of the investment security. The Company evaluates each of its investment securities whose value has declined below amortized cost to determine whether the decline in fair value is OTTI. When determining whether an investment security is OTTI, management assesses the severity and duration of the decline in fair value, the length of time expected for recovery, the financial condition of the issuer and other qualitative factors, as well as whether: (a) it has the intent to sell the security, and (b) it is more likely than not that it will be required to sell the security prior to its anticipated recovery. In instances when a determination is made that an OTTI exists but management does not intend to sell the security and it is not more likely than not that it will be required to sell the security prior to its anticipated repayment or maturity, the OTTI is separated into: (a) the amount of the total OTTI related to a decrease in cash flows expected to be collected from the security (the credit loss); and (b) the amount of the total OTTI related to all other factors. The amount of the total OTTI related to the credit loss is recognized as a charge to earnings. The amount of the total OTTI related to all other factors is recognized in OCI. If the Company intends to sell or it is more likely than not that it will be required to sell a security with OTTI before recovery of its amortized cost basis, the OTTI is recognized in earnings equal to the entire difference between the investment’s amortized cost basis and its fair value at the balance sheet date. |
Federal Home Loan Bank Stock [Policy Text Block] | Federal Home Loan Bank stock : West Bank, as a member of the Federal Home Loan Bank (FHLB) system, is required to maintain an investment in capital stock of the FHLB in an amount equal to 0.12 percent of total assets plus 4.00 percent of outstanding advances from the FHLB and the outstanding principal balance of loans previously issued through the Mortgage Partnership Finance Program (MPF). No ready market exists for the FHLB stock, and it has no quoted market value. The Company evaluates this asset for impairment on a quarterly basis and determined there was no impairment as of December 31, 2019 . All shares of FHLB stock are issued and redeemed at par value. |
Loans and Leases Receivable, Fee and Interest Income [Policy Text Block] | Loans : Loans are stated at the principal amounts outstanding, net of unamortized loan fees and costs, with interest income recognized on the interest method based upon the terms of the loan. Loan origination fees, net of certain direct origination costs, are deferred and recognized as an adjustment of the related loan yield using the interest method. |
Loans and Leases Receivable, Nonaccrual Loan and Lease Status, Policy [Policy Text Block] | Delinquencies are determined based on the payment terms of the individual loan agreements. The accrual of interest on past due and other impaired loans is generally discontinued at 90 days past due or when, in the opinion of management, the borrower may be unable to make all payments pursuant to contractual terms. Unless considered collectible, all interest accrued but not collected for loans that are placed on nonaccrual or charged off is reversed against interest income, if accrued in the current year, or charged to the allowance for loan losses, if accrued in the prior year. Generally, all payments received while a loan is on nonaccrual status are applied to the principal balance of the loan. Loans are returned to accrual status when all principal and interest amounts contractually due are brought current and future payments are reasonably assured. |
Loans and Leases Receivable, Troubled Debt Restructuring [Policy Text Block] | A loan is classified as troubled debt restructured (TDR) when the Company separately concludes that a borrower is experiencing financial difficulties and a concession is granted that would not otherwise be considered. Concessions may include a restructuring of the loan terms to alleviate the burden of the borrower’s cash requirements, such as an extension of the payment terms beyond the original maturity date or a change in the interest rate charged. TDR loans with extended payment terms are accounted for as impaired until performance is established. A change to the interest rate would change the classification of a loan to a TDR loan if the restructured loan yields a rate that is below a market rate for that of a new loan with comparable risk. TDR loans with below-market rates are considered impaired until fully collected. TDR loans may also be reported as nonaccrual or 90 days past due if they are not performing per the restructured terms. |
Impaired Financing Receivable, Policy [Policy Text Block] | Based upon its ongoing assessment of credit quality within the loan portfolio, the Company maintains a Watch List, which includes loans classified as Doubtful, Substandard and Watch according to the Company’s classification criteria. These loans involve the anticipated potential for payment defaults or collateral inadequacies. A loan on the Watch List is considered impaired when management believes it is probable the Company will be unable to collect all contractual principal and interest payments due in accordance with the terms of the loan agreement. Impaired loans are measured based on the present value of expected future cash flows discounted at the loan’s effective interest rate or, as a practical expedient, at the loan’s observable market price or the fair value of the collateral if the loan is collateral dependent. The amount of impairment, if any, and any subsequent changes are included in the allowance for loan losses. |
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block] | Allowance for loan losses : The allowance for loan losses is established through a provision for loan losses charged to expense. The allowance is an amount that management believes will be adequate to absorb probable losses on existing loans based on an evaluation of the collectability of loans and prior loss experience. This evaluation also takes into consideration such factors as changes in the nature and volume of the loan portfolio, overall portfolio quality, the review of specific problem loans, and current economic conditions that may affect the borrowers’ ability to pay. Loans are charged off against the allowance for loan losses when management believes that collectability of the principal is unlikely. While management uses the best information available to make its evaluations, future adjustments to the allowance may be necessary if there are significant changes in economic conditions or the other factors relied upon. The allowance for loan losses consists of specific and general components. The specific component relates to loans that meet the definition of impaired. The general component covers the remaining loans and is based on historical loss experience adjusted for qualitative factors such as delinquency trends, loan growth, economic elements and local market conditions. These same policies are applied to all segments of loans. In addition, regulatory agencies, as integral parts of their examination processes, periodically review the Company’s allowance for loan losses, and may require the Company to make additions to the allowance based on their judgment about information available to them at the time of their examinations. |
Property, Plant and Equipment, Policy [Policy Text Block] | Premises and equipment : Premises and equipment are stated at cost less accumulated depreciation. The straight-line method of depreciation and amortization is used for calculating expense. The estimated useful lives of premises and equipment range up to 40 years for buildings, up to 10 years for furniture and equipment, and the shorter of the estimated useful life or lease term for leasehold improvements. |
Loans and Leases Receivable, Real Estate Acquired Through Foreclosure [Policy Text Block] | Other real estate owned : Real estate properties acquired through or in lieu of foreclosure are initially recorded at fair value less estimated selling cost at the date of foreclosure, establishing a new cost basis. Fair value is determined by management by obtaining appraisals or other market value information at the time of foreclosure. Any write-downs in value at the date of acquisition are charged to the allowance for loan losses. After foreclosure, valuations are periodically performed by management by obtaining updated appraisals or other market value information at least annually. Any subsequent write-downs are recorded as a charge to operations, if necessary, to reduce the carrying value of a property to the updated fair value less estimated selling cost. Net costs related to the holding of properties are included in noninterest expense. |
Trust Assets Policy [Policy Text Block] | Trust assets : Assets held by West Bank in fiduciary or agency capacities, other than trust cash on deposit at West Bank, are not included in the consolidated balance sheets of the Company, as such assets are not assets of West Bank. |
Bank-Owned Life Insurance [Policy Text Block] | Bank-owned life insurance : The carrying amount of bank-owned life insurance consists of the initial premium paid, plus increases in cash value, less the carrying amount associated with any death benefit received. Death benefits paid in excess of the applicable carrying amount are recognized as income. Increases in cash value and the portion of death benefits recognized as income are exempt from income taxes. |
Derivatives, Policy [Policy Text Block] | Derivatives: The Company uses derivative financial instruments, which consist of interest rate swaps, to assist in its interest rate risk management. All derivatives are measured and reported at fair value on the Company’s consolidated balance sheet as other assets or other liabilities. The Company records cash flow hedges at the inception of the derivative contract based on the Company’s intentions and belief as to likely effectiveness as a hedge. The Company documents the strategy for entering into the transactions and the method of assessing ongoing effectiveness. Cash flow hedges represent a hedge of a forecasted transaction or the variability of cash flows to be received or paid related to a recognized asset or liability. For a cash flow hedge that is effective, the gain or loss on the derivative is reported in other comprehensive income and is reclassified into earnings in the same periods during which the hedged transaction affects earnings. The changes in the fair value of derivatives that are not highly effective in hedging the changes in expected cash flows of the hedged item are recognized immediately in current earnings. All of the Company’s cash flow hedges qualify for hedge accounting and are considered highly effective. Net cash settlements on derivatives that qualify for hedge accounting are recorded in interest income or interest expense, based on the item being hedged. Cash flows on hedges are classified in the cash flow statement the same as the cash flows of the items being hedged. To determine fair value, the Company uses third party pricing models that incorporate assumptions about market conditions and risks that are current at the reporting date. The Company does not use derivative instruments for trading or speculative purposes. The Company formally assesses, both at the hedge’s inception and on an ongoing basis, whether the derivative instruments that are used are highly effective in offsetting changes in cash flows of the hedged items. The Company discontinues hedge accounting when it determines that the derivative is no longer effective in offsetting changes in the fair value or cash flows of the hedged item, the derivative is settled or terminates, a hedged forecasted transaction is no longer probable, a hedged firm commitment is no longer firm, or treatment of the derivative as a hedge is no longer appropriate or intended. When hedge accounting is discontinued, subsequent changes in fair value of the derivative are recorded as noninterest income. When a cash flow hedge is discontinued but the hedged cash flows or forecasted transactions are still expected to occur, gains or losses that were accumulated in other comprehensive income are amortized into earnings over the same periods in which the hedged transactions will affect earnings. |
Share-based Payment Arrangement [Policy Text Block] | Stock-based compensation: The Company’s equity incentive plans were approved by the stockholders as a means to attract, retain and reward selected participants. The plans are administered by the Compensation Committee of the Board of Directors. Compensation expense for stock-based awards is recognized on a straight-line basis over the vesting period, or until the participant reaches full retirement age if less than the vesting period, using the fair value of the award at the time of the grant. The restricted stock unit (RSU) participants do not have dividend rights prior to vesting, so the fair value of nonvested RSUs is equal to the fair market value of the underlying common stock at the grant date, reduced by the present value of the dividends expected to be paid on the underlying shares during the vesting period. The Company accounts for forfeitures as they occur. |
Deferred compensation [Policy Text Block] | Deferred compensation: The West Bancorporation, Inc. Deferred Compensation Plan (the Deferred Compensation Plan) provides certain individuals with additional deferral opportunities in planning for retirement. Eligible participants, including directors and key officers of the Company, may choose to voluntarily defer receipt of a portion of their respective cash compensation. The Deferred Compensation Plan is an unfunded, nonqualified deferred compensation plan intended to conform to the requirements of Section 409A of the Internal Revenue Code. |
Income Tax, Policy [Policy Text Block] | Income taxes : The Company files a consolidated federal income tax return. Income tax expense is generally allocated as if the Company and its subsidiary file separate income tax returns. Deferred taxes are provided on an asset and liability method whereby deferred tax assets are recognized for deductible temporary differences, capital losses and net operating losses, and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax basis. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. When tax returns are filed, it is highly certain that some tax positions taken will be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the positions taken or the amount of the position that would be ultimately sustained. The benefit of a tax position is recognized in the consolidated financial statements in the period during which, based on all available evidence, management believes it is more likely than not that the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. The evaluation of a tax position taken is considered by itself and is not offset or aggregated with other positions. Tax positions that meet the more likely than not recognition threshold are measured as the largest amount of tax benefit that is more than 50 percent likely of being realized upon settlement with the applicable taxing authority. Management does not believe the Company has any material uncertain tax positions to disclose. Interest and penalties, if any, related to income taxes are recorded as other noninterest expense in the consolidated income statements in the year assessed. |
Revenue Recognition Accounting Policy, Gross and Net Revenue Disclosure [Policy Text Block] | Revenue recognition : Revenue from deposit account-related fees, including general service fees charged for deposit account maintenance and activity and transaction-based fees charged for certain services, such as debit card, wire transfer or overdraft activities, is recognized when the performance obligation is completed, which is generally after a transaction is completed or monthly for account maintenance services. Trust services, which include periodic fees earned from trusts and investment management agency accounts, estate administration, custody accounts, individual retirement accounts, and other related services, are charged based on standard agreements or by statute and are recognized over the period of time the Company provides the contracted services. |
Earnings Per Share, Policy [Policy Text Block] | Earnings per common share : Basic earnings per common share are computed by dividing net income by the weighted average number of common shares outstanding for the period. Diluted earnings per common share reflect the potential dilution that could occur if the Company’s outstanding RSUs were vested. The dilutive effect is computed using the treasury stock method, which assumes all stock-based awards were exercised and the hypothetical proceeds from exercise were used by the Company to purchase common stock at the average market price during the period. |
New Accounting Pronouncements, Policy [Policy Text Block] | Current accounting developments : In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842). The guidance in the update supersedes the requirements in ASC Topic 840, Leases. The guidance is intended to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet for leases with terms of more than 12 months. In July 2018, the FASB issued ASU No. 2018-11, Targeted Improvements, which amends ASC 842, Leases, to provide for an adoption option that will not require earlier periods to be restated at the adoption date. The Company adopted this guidance effective January 1, 2019. Upon adoption, the Company elected a practical expedient which allowed existing leases to retain their classification as operating leases. The Company also elected the option to account for lease and related non-lease components as a single lease component, and the option not to recognize right-of-use assets and lease liabilities arising from short-term leases (leases with terms of 12 months or less). Lease liabilities are measured at the present value of the remaining lease payments, discounted at the Company’s incremental borrowing rate. The right-of-use asset is measured at the amount of the lease liability adjusted for any cumulative prepaid or accrued rent if the lease payments are uneven throughout the lease term. Implementation of the guidance resulted in the recording of right-of-use assets, included in premises and equipment, and operating lease liabilities, included in other liabilities, on the consolidated balance sheet; however, it did not have a material impact on the Company’s other consolidated financial statements. Refer to Note 6 for additional information regarding operating leases. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326). The amendments in this update require a financial asset (or a group of financial assets) measured at amortized cost basis to be presented at the net amount expected to be collected. The allowance for credit losses is a valuation account that is deducted from the amortized cost basis of the financial assets to present the net carrying value at the amount expected to be collected on the financial assets. Under the updates, the income statement will reflect the measurement of credit losses for newly recognized financial assets, as well as the expected increases or decreases of expected credit losses that have taken place during the period. The measurement of expected credit losses is based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectibility of the reported amount of financial assets. An entity must use judgment in determining the relevant information and estimation methods that are appropriate in its circumstances. The allowance for credit losses for purchased financial assets with a more-than-insignificant amount of credit deterioration since origination that are measured at amortized cost basis is determined in a similar manner to other financial assets measured at amortized cost basis; however, the initial allowance for credit losses is added to the purchase price rather than being reported as a credit loss expense. Only subsequent changes in the allowance for credit losses are recorded as a credit loss expense for these assets. Off-balance-sheet arrangements such as commitments to extend credit, guarantees, and standby letters of credit that are not considered derivatives under ASC 815 and are not unconditionally cancellable are also within the scope of this update. Credit losses relating to available for sale debt securities should be recorded through an allowance for credit losses. In December 2019, the FASB issued ASU No. 2019-10, Financial Instruments-Credit Losses (Topic 326). This update amends the effective date of ASU No. 2016-13 for certain entities, including smaller reporting companies until fiscal years beginning after December 15, 2022, including interim periods within those fiscal periods. Early adoption is permitted. The one-time determination date for identifying as a smaller reporting company was November 15, 2019. The Company met the definition of a smaller reporting company as of this date and plans to adopt the standard with the amended effective date. The Company does not plan to early adopt this standard, but continues to work through implementation. The Company continues collecting and retaining loan and credit data and evaluating various loss estimation models. While we currently cannot reasonably estimate the impact of adopting this standard, we expect the impact will be influenced by the composition, characteristics and quality of our loan and securities portfolios, as well as the general economic conditions and forecasts as of the adoption date. In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement . The amendments in this update modify the disclosure requirements for fair value measurements by removing, modifying, or adding certain disclosures. The update is effective for interim and annual periods in fiscal years beginning after December 15, 2019, with early adoption permitted for the removed disclosures and delayed adoption until the fiscal year 2020 permitted for the new disclosures. The removed and modified disclosures will be adopted on a retrospective basis, and the new disclosures will be adopted on a prospective basis. The adoption will not have a material effect on the Company’s consolidated financial statements. In April 2019, the FASB issued ASU No. 2019-04, Codification Improvements to Financial Instruments - Credit Losses (ASC 326), Derivatives and Hedging (ASC 815), and Financial Instruments (ASC 825) . The amendments in the ASU improve the Codification by eliminating inconsistencies and providing clarifications. The amended guidance in this ASU related to the credit losses will be effective for the Company for fiscal years and interim periods beginning after December 15, 2022. The Company is currently evaluating the impact of the ASU on the Company’s consolidated financial statements. |
Off-Balance-Sheet Credit Exposure, Policy [Policy Text Block] | Financial instruments with off-balance sheet risk : The Company is party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit and standby letters of credit. These instruments involve, to varying degrees, elements of credit risk in excess of the amount recognized in the consolidated balance sheets. The Company’s exposure to credit loss in the event of nonperformance by the other party to the financial instrument for commitments to extend credit and standby letters of credit is represented by the contractual amount of those instruments. The Company uses the same credit policies in making commitments and conditional obligations that it uses for on-balance sheet instruments. Commitments to lend are subject to borrowers’ continuing compliance with existing credit agreements. |
Fair Value Measurement, Policy [Policy Text Block] | Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants in the market in which the reporting entity transacts business. The Company’s balance sheet contains investment securities available for sale and derivative instruments that are recorded at fair value on a recurring basis. The three-level valuation hierarchy for disclosure of fair value is as follows: Level 1 uses quoted market prices in active markets for identical assets or liabilities. Level 2 uses observable market-based inputs or unobservable inputs that are corroborated by market data. Level 3 uses unobservable inputs that are not corroborated by market data. The Company’s policy is to recognize transfers between Levels at the end of each reporting period, if applicable. There were no transfers between Levels of the fair value hierarchy during 2019 or 2018 . The following is a description of valuation methodologies used for financial assets and liabilities recorded at fair value on a recurring basis. Investment securities available for sale: When available, quoted market prices are used to determine the fair value of investment securities (Level 1). If quoted market prices are not available, the Company determines fair value based on various sources and may apply matrix pricing with observable prices for similar bonds where a price for the identical bond is not observable (Level 2). The fair values of these securities are determined by pricing models that consider observable market data such as interest rate volatilities, LIBOR yield curve, credit spreads, prices from market makers and live trading systems. For the corporate bond portfolio, the Company has elected to use a matrix pricing model as a practical expedient to individual quoted market prices. Generally, management obtains the fair value of investment securities at the end of each reporting period via a third-party pricing service. Management reviewed the valuation process used by the third party and believed that process was valid. On a quarterly basis, management corroborates the fair values of a randomly selected sample of investment securities by obtaining pricing from an independent source and compares the two sets of fair values. Any significant variances are reviewed and investigated. For a sample of securities, the fair values are further validated by management, by obtaining details of the inputs used by the pricing service. Those inputs were independently tested, and management concluded the fair values were consistent with GAAP requirements and the investment securities were properly classified in the fair value hierarchy. Derivative instruments: The Company’s derivative instruments consist of interest rate swaps, which are accounted for as cash flow hedges. The Company’s derivative positions are classified within Level 2 of the fair value hierarchy and are valued using models generally accepted in the financial services industry and that use actively quoted or observable market input values from external market data providers and/or nonbinding broker-dealer quotations. The fair value of the derivatives are determined using discounted cash flow models. These models’ key assumptions include the contractual terms of the respective contract along with significant observable inputs, including interest rates, yield curves, nonperformance risk and volatility. |
Fair Value Transfer, Policy [Policy Text Block] | The Company’s policy is to recognize transfers between Levels at the end of each reporting period, if applicable. |
Fair Value of Financial Instruments, Policy [Policy Text Block] | GAAP requires disclosure of the fair value of financial assets and liabilities, including those that are not measured and reported at fair value on a recurring or nonrecurring basis. |
Earnings per Common Share (Tabl
Earnings per Common Share (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | The calculation of earnings per common share and diluted earnings per common share is presented below for the years ended December 31, 2019 , 2018 and 2017 . (in thousands, except per share data) 2019 2018 2017 Net income $ 28,690 $ 28,508 $ 23,070 Weighted average common shares outstanding 16,359 16,275 16,194 Weighted average effect of restricted stock units outstanding 121 125 141 Diluted weighted average common shares outstanding 16,480 16,400 16,335 Basic earnings per common share $ 1.75 $ 1.75 $ 1.42 Diluted earnings per common share $ 1.74 $ 1.74 $ 1.41 Number of anti-dilutive common stock equivalents excluded from diluted earnings per share computation 105 103 — |
Investment securities (Tables)
Investment securities (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Investments, Debt and Equity Securities [Abstract] | |
Unrealized Gain (Loss) on Investments [Table Text Block] | The following tables show the amortized cost, gross unrealized gains and losses and fair value of investment securities, by investment security type as of December 31, 2019 and 2018 . 2019 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Securities available for sale: State and political subdivisions $ 45,442 $ 1,736 $ — $ 47,178 Collateralized mortgage obligations (1) 180,899 1,651 (629 ) 181,921 Mortgage-backed securities (1) 73,038 225 (233 ) 73,030 Asset-backed securities (2) 17,551 66 (17 ) 17,600 Collateralized loan obligations 64,939 21 (128 ) 64,832 Corporate notes 15,300 — (1,283 ) 14,017 $ 397,169 $ 3,699 $ (2,290 ) $ 398,578 2018 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Securities available for sale: State and political subdivisions $ 152,293 $ 156 $ (3,293 ) $ 149,156 Collateralized mortgage obligations (1) 161,392 — (4,388 ) 157,004 Mortgage-backed securities (1) 64,813 — (1,435 ) 63,378 Asset-backed securities (2) 32,076 2 (175 ) 31,903 Trust preferred security 2,153 — (253 ) 1,900 Corporate notes 51,862 124 (1,569 ) 50,417 $ 464,589 $ 282 $ (11,113 ) $ 453,758 (1) All collateralized mortgage obligations and mortgage-backed securities consist of residential mortgage pass-through securities and real estate mortgage investment conduits guaranteed by FNMA, FHLMC or GNMA, and commercial mortgage pass-through securities guaranteed by the SBA. (2) Pass-through asset-backed securities guaranteed by the SBA, representing participating interests in pools of commercial working capital and equipment loans. |
Investments Classified by Contractual Maturity Date [Table Text Block] | The amortized cost and fair value of investment securities available for sale as of December 31, 2019 , by contractual maturity, are shown below. Certain securities have call features that allow the issuer to call the securities prior to maturity. Expected maturities may differ from contractual maturities for collateralized mortgage obligations, mortgage-backed securities and asset-backed securities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Therefore, collateralized mortgage obligations, mortgage-backed securities and asset-backed securities are not included in the maturity categories within the following maturity summary. 2019 Amortized Cost Fair Value Due after one year through five years $ 9,938 $ 9,947 Due after five years through ten years 71,451 70,063 Due after ten years 44,292 46,017 125,681 126,027 Collateralized mortgage obligations, mortgage-backed and asset-backed securities 271,488 272,551 $ 397,169 $ 398,578 |
Schedule of Realized Gain (Loss) [Table Text Block] | The details of the sales of investment securities for the years ended December 31, 2019 , 2018 and 2017 are summarized in the following table. 2019 2018 2017 Proceeds from sales $ 198,699 $ 75,401 $ 108,584 Gross gains on sales 1,046 101 752 Gross losses on sales 1,133 364 426 |
Schedule of Unrealized Loss on Investments [Table Text Block] | The following tables show the fair value and gross unrealized losses, aggregated by investment type and length of time that individual securities have been in a continuous loss position, as of December 31, 2019 and 2018 . 2019 Less than 12 months 12 months or longer Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Securities available for sale: Collateralized mortgage obligations $ 54,521 $ (335 ) $ 35,546 $ (294 ) $ 90,067 $ (629 ) Mortgage-backed securities 45,132 (174 ) 4,687 (59 ) 49,819 (233 ) Asset-backed securities 3,641 (4 ) 7,075 (13 ) 10,716 (17 ) Collateralized loan obligations 42,823 (128 ) — — 42,823 (128 ) Corporate notes 4,499 (501 ) 9,518 (782 ) 14,017 (1,283 ) $ 150,616 $ (1,142 ) $ 56,826 $ (1,148 ) $ 207,442 $ (2,290 ) 2018 Less than 12 months 12 months or longer Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Securities available for sale: State and political subdivisions $ 21,264 $ (221 ) $ 102,853 $ (3,072 ) $ 124,117 $ (3,293 ) Collateralized mortgage obligations 32,230 (250 ) 124,774 (4,138 ) 157,004 (4,388 ) Mortgage-backed securities 10,960 (103 ) 52,418 (1,332 ) 63,378 (1,435 ) Asset-backed securities 6,668 (31 ) 16,486 (144 ) 23,154 (175 ) Trust preferred security — — 1,900 (253 ) 1,900 (253 ) Corporate notes 19,470 (611 ) 19,041 (958 ) 38,511 (1,569 ) $ 90,592 $ (1,216 ) $ 317,472 $ (9,897 ) $ 408,064 $ (11,113 ) |
Loans and Allowance for Loan _2
Loans and Allowance for Loan Losses (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Loans and Allowance for Loan Losses [Abstract] | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | Loans consisted of the following segments as of December 31, 2019 and 2018 . 2019 2018 Commercial $ 431,044 $ 358,763 Real estate: Construction, land and land development 264,193 245,810 1-4 family residential first mortgages 54,475 49,052 Home equity 12,380 14,469 Commercial 1,175,024 1,050,025 Consumer and other 6,787 6,211 1,943,903 1,724,330 Net unamortized fees and costs (2,240 ) (2,500 ) $ 1,941,663 $ 1,721,830 |
Schedule of Loan Transactions with Related Parties [Table Text Block] | Loan transactions with related parties were as follows for the years ended December 31, 2019 and 2018 . 2019 2018 Balance, beginning of year $ 153,476 $ 165,097 New loans 4,934 9,387 Repayments (24,749 ) (21,008 ) Balance, end of year $ 133,661 $ 153,476 |
Schedule of Impaired Loans With and Without an Allowance [Table Text Block] | The following table summarizes the recorded investment in impaired loans by segment, broken down by loans with no related allowance and loans with a related allowance and the amount of that allowance as of December 31, 2019 and 2018 . December 31, 2019 December 31, 2018 Recorded Investment Unpaid Principal Balance Related Allowance Recorded Investment Unpaid Principal Balance Related Allowance With no related allowance recorded: Commercial $ 91 $ 91 $ — $ 1,014 $ 1,014 $ — Real estate: Construction, land and land development — — — — — — 1-4 family residential first mortgages 411 411 — 106 106 — Home equity 31 31 — 41 41 — Commercial 5 5 — 652 652 — Consumer and other — — — — — — 538 538 — 1,813 1,813 — With an allowance recorded: Commercial — — — 15 15 15 Real estate: Construction, land and land development — — — — — — 1-4 family residential first mortgages — — — — — — Home equity — — — — — — Commercial — — — 100 100 100 Consumer and other — — — — — — — — — 115 115 115 Total: Commercial 91 91 — 1,029 1,029 15 Real estate: Construction, land and land development — — — — — — 1-4 family residential first mortgages 411 411 — 106 106 — Home equity 31 31 — 41 41 — Commercial 5 5 — 752 752 100 Consumer and other — — — — — — Total impaired loans $ 538 $ 538 $ — $ 1,928 $ 1,928 $ 115 The balance of impaired loans was composed of loans to six and ten different borrowers, as of December 31, 2019 and 2018 , respectively. As of December 31, 2019 , $104 of total impaired loans to four of the borrowers was also considered impaired as of December 31, 2018 . The Company has no commitments to advance additional funds on any of the impaired loans. The following table summarizes the average recorded investment and interest income recognized on impaired loans by segment for the years ended December 31, 2019 , 2018 and 2017 . December 31, 2019 December 31, 2018 December 31, 2017 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized With no related allowance recorded: Commercial $ 687 $ 39 $ 738 $ — $ 19 $ — Real estate: Construction, land and land development — — — — — — 1-4 family residential first mortgages 73 6 113 — 99 — Home equity 34 2 122 6 39 2 Commercial 384 22 600 — 276 — Consumer and other — — — — — — 1,178 69 1,573 6 433 2 With an allowance recorded: Commercial 7 — 1 — 60 7 Real estate: Construction, land and land development — — — — — — 1-4 family residential first mortgages — — — — — — Home equity — — 15 — 177 1 Commercial 58 6 109 — 127 — Consumer and other — — — — — — 65 6 125 — 364 8 Total: Commercial 694 39 739 — 79 7 Real estate: Construction, land and land development — — — — — — 1-4 family residential first mortgages 73 6 113 — 99 — Home equity 34 2 137 6 216 3 Commercial 442 28 709 — 403 — Consumer and other — — — — — — Total impaired loans $ 1,243 $ 75 $ 1,698 $ 6 $ 797 $ 10 |
Past Due Loans [Table Text Block] | The following tables provide an analysis of the payment status of the recorded investment in loans as of December 31, 2019 and 2018 . December 31, 2019 30-59 Days Past Due 60-89 Days Past Due 90 Days or More Past Due Total Past Due Current Nonaccrual Loans Total Loans Commercial $ — $ — $ — $ — $ 430,953 $ 91 $ 431,044 Real estate: Construction, land and land development — — — — 264,193 — 264,193 1-4 family residential first mortgages 76 — — 76 53,988 411 54,475 Home equity — — — — 12,349 31 12,380 Commercial — 152 — 152 1,174,867 5 1,175,024 Consumer and other — — — — 6,787 — 6,787 Total $ 76 $ 152 $ — $ 228 $ 1,943,137 $ 538 $ 1,943,903 December 31, 2018 30-59 Days Past Due 60-89 Days Past Due 90 Days or More Past Due Total Past Due Current Nonaccrual Loans Total Loans Commercial $ 54 $ — $ — $ 54 $ 357,680 $ 1,029 $ 358,763 Real estate: Construction, land and land development — — — — 245,810 — 245,810 1-4 family residential first mortgages 157 — — 157 48,789 106 49,052 Home equity — — — — 14,428 41 14,469 Commercial — — — — 1,049,273 752 1,050,025 Consumer and other — — — — 6,211 — 6,211 Total $ 211 $ — $ — $ 211 $ 1,722,191 $ 1,928 $ 1,724,330 |
Financing Receivable, Troubled Debt Restructuring [Table Text Block] | TDR loans totaled $4 and $652 as of December 31, 2019 and 2018 , respectively, and were included in the nonaccrual category. There were no loan modifications considered to be TDR that occurred during the year ended December 31, 2019 , one loan modification considered to be TDR that occurred during the year ended December 31, 2018 , and no loan modifications considered to be TDR that occurred during the year ended December 31, 2017 . The pre- and post-modification recorded investment in TDR loans that have occurred during the years ended December 31, 2019 , 2018 and 2017 , totaled $0 , $560 and $0 , respectively. The financial impact of charge-offs or specific reserves for these modified loans was immaterial. TDR loans that have been modified within the twelve months ended December 31, 2019 , 2018 and 2017 , which have subsequently had a payment default, totaled $0 , $544 and $0 , respectively. A TDR loan is considered to have a payment default when it is past due 30 days or more. |
Financing Receivable Credit Quality Indicators [Table Text Block] | The following tables show the recorded investment in loans by credit quality indicator and loan segment as of December 31, 2019 and 2018 . December 31, 2019 Pass Watch Substandard Doubtful Total Commercial $ 410,070 $ 18,680 $ 2,294 $ — $ 431,044 Real estate: Construction, land and land development 264,132 61 — — 264,193 1-4 family residential first mortgages 52,168 1,841 466 — 54,475 Home equity 12,349 — 31 — 12,380 Commercial 1,146,472 28,475 77 — 1,175,024 Consumer and other 6,787 — — — 6,787 Total $ 1,891,978 $ 49,057 $ 2,868 $ — $ 1,943,903 December 31, 2018 Pass Watch Substandard Doubtful Total Commercial $ 336,861 $ 19,886 $ 2,016 $ — $ 358,763 Real estate: Construction, land and land development 245,810 — — — 245,810 1-4 family residential first mortgages 47,923 963 166 — 49,052 Home equity 14,352 46 71 — 14,469 Commercial 1,019,256 29,063 1,706 — 1,050,025 Consumer and other 6,186 — 25 — 6,211 Total $ 1,670,388 $ 49,958 $ 3,984 $ — $ 1,724,330 |
Financing Receivable, Allowance for Credit Loss [Table Text Block] | The following tables detail changes in the allowance for loan losses by segment for the years ended December 31, 2019 , 2018 and 2017 . 2019 Real Estate Commercial Construction and Land 1-4 Family Residential Home Equity Commercial Consumer and Other Total Beginning balance $ 3,508 $ 2,384 $ 250 $ 171 $ 10,301 $ 75 $ 16,689 Charge-offs (452 ) — — — — — (452 ) Recoveries 290 — 14 74 12 8 398 Provision (1) 529 (9 ) (48 ) (118 ) 252 (6 ) 600 Ending balance $ 3,875 $ 2,375 $ 216 $ 127 $ 10,565 $ 77 $ 17,235 2018 Real Estate Commercial Construction and Land 1-4 Family Residential Home Equity Commercial Consumer and Other Total Beginning balance $ 3,866 $ 2,213 $ 319 $ 186 $ 9,770 $ 76 $ 16,430 Charge-offs (208 ) — — (24 ) — (3 ) (235 ) Recoveries 673 — 18 24 13 16 744 Provision (1) (823 ) 171 (87 ) (15 ) 518 (14 ) (250 ) Ending balance $ 3,508 $ 2,384 $ 250 $ 171 $ 10,301 $ 75 $ 16,689 2017 Real Estate Commercial Construction and Land 1-4 Family Residential Home Equity Commercial Consumer and Other Total Beginning balance $ 3,881 $ 2,639 $ 317 $ 478 $ 8,697 $ 100 $ 16,112 Charge-offs (199 ) — — (176 ) — — (375 ) Recoveries 232 398 15 28 13 7 693 Provision (1) (48 ) (824 ) (13 ) (144 ) 1,060 (31 ) — Ending balance $ 3,866 $ 2,213 $ 319 $ 186 $ 9,770 $ 76 $ 16,430 (1) The negative provisions for the various segments are either related to the decline in outstanding balances in each of those portfolio segments during the time periods disclosed and/or improvement in the credit quality factors related to those portfolio segments. |
Allowance for Loan Loss by Impairment Method [Table Text Block] | The following tables show a breakdown of the allowance for loan losses disaggregated on the basis of impairment analysis method by segment as of December 31, 2019 and 2018 . December 31, 2019 Real Estate Commercial Construction and Land 1-4 Family Residential Home Equity Commercial Consumer and Other Total Ending balance: Individually evaluated for impairment $ — $ — $ — $ — $ — $ — $ — Collectively evaluated for impairment 3,875 2,375 216 127 10,565 77 17,235 Total $ 3,875 $ 2,375 $ 216 $ 127 $ 10,565 $ 77 $ 17,235 December 31, 2018 Real Estate Commercial Construction and Land 1-4 Family Residential Home Equity Commercial Consumer and Other Total Ending balance: Individually evaluated for impairment $ 15 $ — $ — $ — $ 100 $ — $ 115 Collectively evaluated for impairment 3,493 2,384 250 171 10,201 75 16,574 Total $ 3,508 $ 2,384 $ 250 $ 171 $ 10,301 $ 75 $ 16,689 |
Loans by Impairment Method [Table Text Block] | The following tables show the recorded investment in loans, exclusive of unamortized fees and costs, disaggregated on the basis of impairment analysis method by segment as of December 31, 2019 and 2018 . December 31, 2019 Real Estate Commercial Construction and Land 1-4 Family Residential Home Equity Commercial Consumer and Other Total Ending balance: Individually evaluated for impairment $ 91 $ — $ 411 $ 31 $ 5 $ — $ 538 Collectively evaluated for impairment 430,953 264,193 54,064 12,349 1,175,019 6,787 1,943,365 Total $ 431,044 $ 264,193 $ 54,475 $ 12,380 $ 1,175,024 $ 6,787 $ 1,943,903 December 31, 2018 Real Estate Commercial Construction and Land 1-4 Family Residential Home Equity Commercial Consumer and Other Total Ending balance: Individually evaluated for impairment $ 1,029 $ — $ 106 $ 41 $ 752 $ — $ 1,928 Collectively evaluated for impairment 357,734 245,810 48,946 14,428 1,049,273 6,211 1,722,402 Total $ 358,763 $ 245,810 $ 49,052 $ 14,469 $ 1,050,025 $ 6,211 $ 1,724,330 |
Premises and Equipment, Net (Ta
Premises and Equipment, Net (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Property, Plant and Equipment, Net [Abstract] | |
Property, Plant and Equipment [Table Text Block] | Premises and equipment consisted of the following as of December 31, 2019 and 2018 . 2019 2018 Land $ 4,176 $ 4,323 Buildings 13,834 14,120 Right-of-use assets under operating leases 8,870 — Leasehold improvements 3,963 3,941 Furniture and equipment 8,592 7,927 39,435 30,311 Accumulated depreciation (9,755 ) (8,820 ) $ 29,680 $ 21,491 |
Operating Leases Operating Le_2
Operating Leases Operating Leases (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Leases [Abstract] | |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | Total estimated rental commitments for the operating leases were as follows as of December 31, 2019 . 2020 $ 1,681 2021 1,627 2022 1,583 2023 1,565 2024 910 Thereafter 2,972 Total lease payments 10,338 Less: present value discount (1,236 ) Present value of lease liabilities $ 9,102 |
Deposits (Tables)
Deposits (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Deposits [Abstract] | |
Schedule of Maturities of Time Deposits [Table Text Block] | The scheduled maturities of time deposits were as follows as of December 31, 2019 . 2020 $ 252,322 2021 23,614 2022 9,081 2023 4,959 2024 1,558 $ 291,534 |
Federal Home Loan Bank Advanc_2
Federal Home Loan Bank Advances (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Advances from Federal Home Loan Banks [Abstract] | |
Federal Home Loan Bank Advances Maturities Summary [Table Text Block] | The following table presents the terms of all FHLB advances as of December 31, 2019 and 2018 . December 31, 2019 December 31, 2018 Weighted Weighted Weighted Weighted Average Average Average Average Contractual Effective Contractual Effective Balance Rate Rate (1) Balance Rate Rate (1) Fixed-rate advances maturing: 2019 $ — — — $ 60,000 2.69 % 2.69 % 2020 125,000 1.87 % 2.21 % — — — Variable-rate advances maturing: 2019 — — — 25,000 3.08 % 5.03 % 2020 55,000 2.27 % 4.46 % 55,000 3.14 % 4.85 % 180,000 1.99 % 2.90 % 140,000 2.94 % 3.97 % Discount for modification (635 ) (2,122 ) FHLB advances, net of discount $ 179,365 $ 137,878 (1) The effective interest rate includes adjustments for discount amortization and interest rate swap terms, if applicable. |
Long-term debt (Tables)
Long-term debt (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Debt Instruments [Abstract] | |
Schedule of Maturities of Long-term Debt [Table Text Block] | Future required principal payments for long-term debt as of December 31, 2019 are shown in the table below. 2020 $ 1,367 2021 2,537 2022 7,535 2023 — 2024 — Thereafter 11,486 $ 22,925 |
Derivatives (Tables)
Derivatives (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] | The table below identifies the balance sheet category and fair values of the Company’s derivative instruments designated as cash flow hedges as of December 31, 2019 and 2018 . Notional Amount Fair Value Balance Sheet Category Weighted Average Floating Rate Received Weighted Average Fixed Rate Paid Weighted Average Maturity - Years December 31, 2019 Interest rate swaps $ 215,000 $ (5,786 ) Other Liabilities 1.84 % 2.26 % 5.5 Interest rate swaps 70,000 403 Other Assets 2.62 % 2.37 % 5.2 Forward starting interest rate swaps (1) 50,000 (343 ) Other Liabilities — 1.74 % 6.1 December 31, 2018 Interest rate swaps $ 110,000 $ 1,863 Other Assets 3.22 % 2.82 % 5.7 |
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance [Table Text Block] | The following table identifies the pretax gains or losses recognized on the Company’s derivative instruments designated as cash flow hedges for the years ended December 31, 2019 , 2018 and 2017 . Amount of Pretax Gain (Loss) Recognized in OCI Reclassified from AOCI into Income Years Ended: Category Amount of Gain (Loss) December 31, 2019 $ (7,355 ) Interest Expense $ 142 December 31, 2018 $ 1,044 Interest Expense $ (105 ) December 31, 2017 $ (66 ) Interest Expense $ (413 ) |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Income Tax Disclosure [Abstract] | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | The following table shows the components of income taxes for the years ended December 31, 2019 , 2018 and 2017 . 2019 2018 2017 Current: Federal $ 5,112 $ 5,012 $ 8,822 State 1,973 1,907 1,713 Deferred: Federal (17 ) (277 ) 2,527 State (16 ) (82 ) 306 Income taxes $ 7,052 $ 6,560 $ 13,368 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Total income taxes for the years ended December 31, 2019 and 2018 differed from the amount computed by applying the U.S. federal income tax rate of 21 percent to income before income taxes, and for the year ended December 31, 2017, total income taxes differed by the amount computed by applying the U.S. federal income tax rate of 35 percent to income before income taxes, as shown in the following table. 2019 2018 2017 Amount Percent of Pretax Income Amount Percent of Pretax Income Amount Percent of Pretax Income Computed expected tax expense $ 7,506 21.0 % $ 7,364 21.0 % $ 12,753 35.0 % State income tax expense, net of federal income tax benefit 1,543 4.3 % 1,425 4.1 % 1,146 3.2 % Tax-exempt interest income (804 ) (2.2 )% (1,390 ) (4.0 )% (2,023 ) (5.6 )% Nondeductible interest expense to own tax-exempt securities 183 0.5 % 231 0.7 % 152 0.4 % Tax-exempt increase in cash value of life insurance and gains (135 ) (0.4 )% (132 ) (0.4 )% (336 ) (0.9 )% Stock compensation (13 ) — (219 ) (0.6 )% (261 ) (0.7 )% Effect of change in federal income tax rate — — — — 2,340 6.4 % Amended tax returns — — 222 0.6 % — — Federal income tax credits (1,265 ) (3.5 )% (1,140 ) (3.3 )% (410 ) (1.1 )% Other, net 37 0.1 % 199 0.6 % 7 — Income taxes $ 7,052 19.8 % $ 6,560 18.7 % $ 13,368 36.7 % |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | Net deferred tax assets consisted of the following components as of December 31, 2019 and 2018 . 2019 2018 Deferred tax assets: Allowance for loan losses $ 4,309 $ 4,172 Net unrealized losses on securities available for sale — 2,708 Net unrealized losses on interest rate swaps 1,441 — Lease liabilities 2,275 — Accrued expenses 297 346 Restricted stock unit compensation 832 704 State net operating loss carryforward 1,114 1,021 Capital loss carryforward 3 — Other 53 67 10,324 9,018 Deferred tax liabilities: Right-of-use assets 2,218 — Deferred loan costs 218 183 Net unrealized gains on securities available for sale 352 — Net unrealized gains on interest rate swaps — 429 Premises and equipment 839 694 Other 219 173 3,846 1,479 Net deferred tax assets before valuation allowance 6,478 7,539 Valuation allowance for deferred tax assets (1,117 ) (1,021 ) Net deferred tax assets $ 5,361 $ 6,518 |
Stock Compensation Plans (Table
Stock Compensation Plans (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Share-based Payment Arrangement [Abstract] | |
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block] | The following table includes a summary of nonvested RSU activity for the years ended December 31, 2019 , 2018 and 2017 . 2019 2018 2017 Weighted Weighted Weighted Average Average Average Grant Date Grant Date Grant Date Fair Value Fair Value Fair Value (actual amounts, not in thousands) Shares Per Share Shares Per Share Shares Per Share Nonvested shares, beginning balance 354,350 $ 22.13 339,300 $ 19.55 307,268 $ 17.46 Granted 154,000 20.00 136,500 25.81 138,500 22.06 Vested (127,750 ) 21.38 (121,450 ) 19.05 (106,468 ) 16.79 Forfeited — — — — — — Nonvested shares, ending balance 380,600 $ 21.52 354,350 $ 22.13 339,300 $ 19.55 |
Accumulated Other Comprehensi_2
Accumulated Other Comprehensive Income (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Note 15. Accumulated Other Comprehensive Income (Loss) The following table summarizes the changes in the balances of each component of AOCI, net of tax, for the years ended December 31, 2019 , 2018 and 2017 . Unrealized Accumulated Unrealized Gains Other Gains (Losses) (Losses) on Comprehensive on Securities Derivatives Income (Loss) Balance, December 31, 2016 $ (1,172 ) $ 130 $ (1,042 ) Other comprehensive loss before reclassifications (697 ) (41 ) (738 ) Amounts reclassified from accumulated other comprehensive income (368 ) 256 (112 ) Net current period other comprehensive income (loss) (1,065 ) 215 (850 ) Balance, December 31, 2017 (2,237 ) 345 (1,892 ) Transfer of securities held to maturity to securities available for sale 273 — 273 Other comprehensive income (loss) before reclassifications (5,856 ) 784 (5,072 ) Amounts reclassified from accumulated other comprehensive income 172 75 247 Net current period other comprehensive income (loss) (5,411 ) 859 (4,552 ) Reclassification of stranded tax effects (475 ) 105 (370 ) Balance, December 31, 2018 (8,123 ) 1,309 (6,814 ) Other comprehensive income (loss) before reclassifications 9,115 (5,517 ) 3,598 Amounts reclassified from accumulated other comprehensive income 65 (110 ) (45 ) Net current period other comprehensive income (loss) 9,180 (5,627 ) 3,553 Balance, December 31, 2019 $ 1,057 $ (4,318 ) $ (3,261 ) |
Regulatory Capital Requiremen_2
Regulatory Capital Requirements (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Broker-Dealer, Net Capital Requirement, SEC Regulation [Abstract] | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | as of December 31, 2019 and 2018 . Actual For Capital Adequacy Purposes For Capital Adequacy Purposes With Capital Conservation Buffer To Be Well-Capitalized Under Prompt Corrective Action Provisions Amount Ratio Amount Ratio Amount Ratio Amount Ratio As of December 31, 2019: Total Capital (to Risk-Weighted Assets) Consolidated $ 252,316 11.40 % $ 177,013 8.00 % $ 232,330 10.50 % N/A N/A West Bank 259,644 11.74 % 176,970 8.00 % 232,273 10.50 % $ 221,212 10.00 % Tier 1 Capital (to Risk-Weighted Assets) Consolidated 235,081 10.62 % 132,760 6.00 % 188,077 8.50 % N/A N/A West Bank 242,409 10.96 % 132,727 6.00 % 188,030 8.50 % 176,970 8.00 % Common Equity Tier 1 Capital (to Risk-Weighted Assets) Consolidated 215,081 9.72 % 99,570 4.50 % 154,887 7.00 % N/A N/A West Bank 242,409 10.96 % 99,546 4.50 % 154,849 7.00 % 143,788 6.50 % Tier 1 Capital (to Average Assets) Consolidated 235,081 9.53 % 98,693 4.00 % 98,693 4.00 % N/A N/A West Bank 242,409 9.83 % 98,656 4.00 % 98,656 4.00 % 123,320 5.00 % As of December 31, 2018: Total Capital (to Risk-Weighted Assets) Consolidated $ 234,526 11.50 % $ 163,213 8.00 % $ 201,466 9.875 % N/A N/A West Bank 245,962 12.07 % 163,076 8.00 % 201,297 9.875 % $ 203,845 10.00 % Tier 1 Capital (to Risk-Weighted Assets) Consolidated 217,837 10.68 % 122,410 6.00 % 160,663 7.875 % N/A N/A West Bank 229,273 11.25 % 122,307 6.00 % 160,528 7.875 % 163,076 8.00 % Common Equity Tier 1 Capital (to Risk-Weighted Assets) Consolidated 197,837 9.70 % 91,807 4.50 % 130,060 6.375 % N/A N/A West Bank 229,273 11.25 % 91,730 4.50 % 129,951 6.375 % 132,499 6.50 % Tier 1 Capital (to Average Assets) Consolidated 217,837 9.74 % 89,485 4.00 % 89,485 4.00 % N/A N/A West Bank 229,273 10.26 % 89,410 4.00 % 89,410 4.00 % 111,762 5.00 % |
Commitments and Contingencies_2
Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
Summary Of Outstanding Commitments To Extend Credit And Letters Of Credit [Table Text Block] | The Company’s commitments consisted of the following approximate amounts as of December 31, 2019 and 2018 . 2019 2018 Commitments to extend credit $ 672,117 $ 641,581 Standby letters of credit 8,029 6,631 $ 680,146 $ 648,212 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Fair Value Disclosures [Abstract] | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | The following tables present the balances of financial assets and liabilities measured at fair value on a recurring basis by level as of December 31, 2019 and 2018 . 2019 Description Total Level 1 Level 2 Level 3 Financial assets: Investment securities available for sale: State and political subdivisions $ 47,178 $ — $ 47,178 $ — Collateralized mortgage obligations 181,921 — 181,921 — Mortgage-backed securities 73,030 — 73,030 — Asset-backed securities 17,600 — 17,600 — Collateralized loan obligations 64,832 — 64,832 — Corporate notes 14,017 — 14,017 — Derivative instrument, interest rate swaps 403 — 403 — Financial liabilities: Derivative instrument, interest rate swap $ 6,129 $ — $ 6,129 $ — 2018 Description Total Level 1 Level 2 Level 3 Financial assets: Investment securities available for sale: State and political subdivisions $ 149,156 $ — $ 149,156 $ — Collateralized mortgage obligations 157,004 — 157,004 — Mortgage-backed securities 63,378 — 63,378 — Asset-backed securities 31,903 — 31,903 — Trust preferred security 1,900 — 1,900 — Corporate notes 50,417 — 50,417 — Derivative instrument, interest rate swap 1,863 — 1,863 — |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | Certain assets are measured at fair value on a nonrecurring basis. That is, they are subject to fair value adjustments in certain circumstances (for example, when there is evidence of impairment). As of December 31, 2019 , there were no impaired loans that had a fair value adjustment. As of December 31, 2018 , impaired loans with a fair value adjustment had a net book value of $0 . |
Fair Value, by Balance Sheet Grouping [Table Text Block] | The following table presents the carrying amounts and approximate fair values of financial assets and liabilities as of December 31, 2019 and 2018 . 2019 2018 Fair Value Hierarchy Level Carrying Amount Approximate Fair Value Carrying Amount Approximate Fair Value Financial assets: Cash and due from banks Level 1 $ 37,808 $ 37,808 $ 46,369 $ 46,369 Federal funds sold Level 1 15,482 15,482 1,105 1,105 Investment securities available for sale Level 2 398,578 398,578 453,758 453,758 Federal Home Loan Bank stock Level 1 12,491 12,491 12,037 12,037 Loans, net Level 2 1,924,428 1,941,208 1,705,141 1,688,700 Accrued interest receivable Level 1 7,134 7,134 7,631 7,631 Interest rate swaps Level 2 403 403 1,863 1,863 Financial liabilities: Deposits Level 2 $ 2,014,756 $ 2,015,427 $ 1,894,529 $ 1,893,621 Federal funds purchased Level 1 2,660 2,660 19,985 19,985 Subordinated notes, net Level 2 20,438 18,568 20,425 15,498 Federal Home Loan Bank advances, net Level 2 179,365 179,365 137,878 137,878 Long-term debt, net Level 2 22,925 22,910 27,040 27,000 Accrued interest payable Level 1 2,070 2,070 1,317 1,317 Interest rate swap Level 2 6,129 6,129 — — Off-balance-sheet financial instruments: Commitments to extend credit Level 3 — — — — Standby letters of credit Level 3 — — — — |
West Bancorporation, Inc. (Pa_2
West Bancorporation, Inc. (Parent Company Only) Condensed Financial Statements (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Condensed Financial Information Disclosure [Abstract] | |
Schedule of Condensed Balance Sheet [Table Text Block] | Balance Sheets December 31, 2019 and 2018 2019 2018 ASSETS Cash $ 4,122 $ 3,951 Investment in West Bank 239,147 221,559 Investment in West Bancorporation Capital Trust I 619 619 Other assets 6 1,232 Total assets $ 243,894 $ 227,361 LIABILITIES AND STOCKHOLDERS’ EQUITY LIABILITIES Accrued expenses and other liabilities $ 386 $ 663 Subordinated notes, net 20,438 20,425 Long-term debt 11,250 15,250 Total liabilities 32,074 36,338 STOCKHOLDERS’ EQUITY Preferred stock — — Common stock 3,000 3,000 Additional paid-in capital 27,260 25,128 Retained earnings 184,821 169,709 Accumulated other comprehensive loss (3,261 ) (6,814 ) Total stockholders’ equity 211,820 191,023 Total liabilities and stockholders’ equity $ 243,894 $ 227,361 |
Schedule of Condensed Income Statement [Table Text Block] | Statements of Income Years Ended December 31, 2019, 2018 and 2017 2019 2018 2017 Operating income: Equity in net income of West Bank $ 30,205 $ 30,282 $ 23,933 Equity in net income of West Bancorporation Capital Trust I 35 33 27 Intercompany rental income — — 333 Other rental income — — 21 Total operating income 30,240 30,315 24,314 Operating expenses: Interest on subordinated notes 1,022 1,076 901 Interest on long-term debt 519 750 517 Occupancy — — 187 Other expenses 498 530 602 Total operating expenses 2,039 2,356 2,207 Income before income taxes 28,201 27,959 22,107 Income tax benefits (489 ) (549 ) (963 ) Net income $ 28,690 $ 28,508 $ 23,070 |
Schedule of Condensed Cash Flow Statement [Table Text Block] | Statements of Cash Flows Years Ended December 31, 2019, 2018 and 2017 2019 2018 2017 Cash Flows from Operating Activities: Net income $ 28,690 $ 28,508 $ 23,070 Adjustments to reconcile net income to net cash provided by operating activities: Equity in net income of West Bank (30,205 ) (30,282 ) (23,933 ) Equity in net income of West Bancorporation Capital Trust I (35 ) (33 ) (27 ) Dividends received from West Bank 19,200 22,300 16,800 Dividends received from West Bancorporation Capital Trust I 35 33 27 Amortization 13 13 17 Depreciation — — 178 Deferred income taxes 43 — (240 ) Change in assets and liabilities: Decrease in other assets 28 107 50 Increase (decrease) in accrued expenses and other liabilities (20 ) 25 (549 ) Net cash provided by operating activities 17,749 20,671 15,393 Cash Flows from Investing Activities: Proceeds from sales of premises — — 18,032 Purchases of premises — — (16 ) Capital contribution to West Bank — — (40,000 ) Net cash used in investing activities — — (21,984 ) Cash Flows from Financing Activities: Proceeds from long-term debt — — 22,000 Principal payments on long-term debt (4,000 ) (7,250 ) (4,629 ) Common stock cash dividends (13,578 ) (12,696 ) (11,499 ) Net cash provided by (used in) financing activities (17,578 ) (19,946 ) 5,872 Net increase (decrease) in cash 171 725 (719 ) Cash: Beginning 3,951 3,226 3,945 Ending $ 4,122 $ 3,951 $ 3,226 |
Selected Quarterly Financial _2
Selected Quarterly Financial Data (unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Selected Quarterly Financial Information [Abstract] | |
Schedule of Quarterly Financial Information [Table Text Block] | 2019 Three months ended March 31 June 30 September 30 December 31 Interest income $ 23,651 $ 24,335 $ 25,612 $ 25,077 Interest expense 7,762 8,297 8,496 7,690 Net interest income 15,889 16,038 17,116 17,387 Provision for loan losses — — 300 300 Net interest income after provision for loan losses 15,889 16,038 16,816 17,087 Noninterest income 2,119 1,999 2,158 2,042 Noninterest expense 9,544 9,750 9,536 9,576 Income before income taxes 8,464 8,287 9,438 9,553 Income taxes 1,565 1,629 1,912 1,946 Net income $ 6,899 $ 6,658 $ 7,526 $ 7,607 Basic earnings per common share $ 0.42 $ 0.41 $ 0.46 $ 0.46 Diluted earnings per common share $ 0.42 $ 0.41 $ 0.46 $ 0.46 2018 Three months ended March 31 June 30 September 30 December 31 Interest income $ 19,730 $ 20,537 $ 21,920 $ 22,606 Interest expense 4,314 5,238 6,233 6,950 Net interest income 15,416 15,299 15,687 15,656 Provision for loan losses 150 — (400 ) — Net interest income after provision for loan losses 15,266 15,299 16,087 15,656 Noninterest income 1,913 2,023 2,114 1,702 Noninterest expense 8,287 8,958 8,561 9,186 Income before income taxes 8,892 8,364 9,640 8,172 Income taxes 1,508 1,600 2,507 945 Net income $ 7,384 $ 6,764 $ 7,133 $ 7,227 Basic earnings per common share $ 0.46 $ 0.42 $ 0.44 $ 0.44 Diluted earnings per common share $ 0.45 $ 0.41 $ 0.43 $ 0.44 |
Organization and Nature of Bu_3
Organization and Nature of Business and Summary of Significant Accounting Policies (Branches) (Details) | Dec. 31, 2019Bank_branches |
Des Moines, Iowa metropolitan area branches, excluding main [Member] | |
Number of bank branches by location [Line Items] | |
Number of bank branches | 7 |
Coralville, Iowa [Member] | |
Number of bank branches by location [Line Items] | |
Number of bank branches | 1 |
Rochester, Minnesota [Member] | |
Number of bank branches by location [Line Items] | |
Number of bank branches | 4 |
Organization and Nature of Bu_4
Organization and Nature of Business and Summary of Significant Accounting Policies (FHLB stock) (Details) - Federal Home Loan Bank stock [Member] | Dec. 31, 2019USD ($) |
Schedule of Cost-method Investments [Line Items] (Deprecated 2018-01-31) | |
Federal Home Loan Bank stock, percent of total assets required | 0.12% |
Federal Home Loan Bank stock, percent of outstanding advances required | 4.00% |
Quoted market value | $ 0 |
Organization and Nature of Bu_5
Organization and Nature of Business and Summary of Significant Accounting Policies (Useful Lives) (Details) - Maximum [Member] | 12 Months Ended |
Dec. 31, 2019 | |
Buildings [Member] | |
Premises and equipment [Line Items] | |
Premises and equipment, useful life | 40 years |
Furniture and equipment [Member] | |
Premises and equipment [Line Items] | |
Premises and equipment, useful life | 10 years |
Organization and Nature of Bu_6
Organization and Nature of Business and Summary of Significant Accounting Policies (OREO) (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Other real estate owned, included in other assets | $ 0 | $ 0 |
Organization and Nature of Bu_7
Organization and Nature of Business and Summary of Significant Accounting Policies (Trust assets) (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Trust assets | $ 359,585 | $ 300,722 |
Earnings per Common Share (Deta
Earnings per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Earnings Per Share [Abstract] | |||||||||||
Net income | $ 7,607 | $ 7,526 | $ 6,658 | $ 6,899 | $ 7,227 | $ 7,133 | $ 6,764 | $ 7,384 | $ 28,690 | $ 28,508 | $ 23,070 |
Weighted average common shares outstanding (shares) | 16,359 | 16,275 | 16,194 | ||||||||
Weighted average effect of restricted stock units outstanding (shares) | 121 | 125 | 141 | ||||||||
Diluted weighted average common shares outstanding (shares) | 16,480 | 16,400 | 16,335 | ||||||||
Basic earnings per common share | $ 0.46 | $ 0.46 | $ 0.41 | $ 0.42 | $ 0.44 | $ 0.44 | $ 0.42 | $ 0.46 | $ 1.75 | $ 1.75 | $ 1.42 |
Diluted earnings per common share | $ 0.46 | $ 0.46 | $ 0.41 | $ 0.42 | $ 0.44 | $ 0.43 | $ 0.41 | $ 0.45 | $ 1.74 | $ 1.74 | $ 1.41 |
Number of anti-dilutive common stock equivalents excluded from diluted earnings per share computation | 105 | 103 | 0 |
Investment Securities Available
Investment Securities Available-for-Sale by Security Type (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Debt Securities, Available-for-sale [Line Items] | ||
Investment securities available for sale, amortized cost | $ 397,169 | $ 464,589 |
Investment securities available for sale, gross unrealized gains | 3,699 | 282 |
Investment securities available for sale, gross unrealized losses | (2,290) | (11,113) |
Investment securities available for sale | 398,578 | 453,758 |
State and political subdivisions [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Investment securities available for sale, amortized cost | 45,442 | 152,293 |
Investment securities available for sale, gross unrealized gains | 1,736 | 156 |
Investment securities available for sale, gross unrealized losses | 0 | (3,293) |
Investment securities available for sale | 47,178 | 149,156 |
Collateralized mortgage obligations [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Investment securities available for sale, amortized cost | 180,899 | 161,392 |
Investment securities available for sale, gross unrealized gains | 1,651 | 0 |
Investment securities available for sale, gross unrealized losses | (629) | (4,388) |
Investment securities available for sale | 181,921 | 157,004 |
Mortgage-backed securities [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Investment securities available for sale, amortized cost | 73,038 | 64,813 |
Investment securities available for sale, gross unrealized gains | 225 | 0 |
Investment securities available for sale, gross unrealized losses | (233) | (1,435) |
Investment securities available for sale | 73,030 | 63,378 |
Asset-backed securities [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Investment securities available for sale, amortized cost | 17,551 | 32,076 |
Investment securities available for sale, gross unrealized gains | 66 | 2 |
Investment securities available for sale, gross unrealized losses | (17) | (175) |
Investment securities available for sale | 17,600 | 31,903 |
Collateralized Loan Obligations [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Investment securities available for sale, amortized cost | 64,939 | |
Investment securities available for sale, gross unrealized gains | 21 | |
Investment securities available for sale, gross unrealized losses | (128) | |
Investment securities available for sale | 64,832 | |
Trust preferred security [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Investment securities available for sale, amortized cost | 2,153 | |
Investment securities available for sale, gross unrealized gains | 0 | |
Investment securities available for sale, gross unrealized losses | (253) | |
Investment securities available for sale | 1,900 | |
Corporate notes [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Investment securities available for sale, amortized cost | 15,300 | 51,862 |
Investment securities available for sale, gross unrealized gains | 0 | 124 |
Investment securities available for sale, gross unrealized losses | (1,283) | (1,569) |
Investment securities available for sale | $ 14,017 | $ 50,417 |
Investment Securities Contractu
Investment Securities Contractual Maturity (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Investment Securities Available for Sale, Debt Maturities, Amortized Cost Basis, Fiscal Year Maturity [Abstract] | ||
Due after one year through five years, amortized cost | $ 9,938 | |
Due after five years through ten years, amortized cost | 71,451 | |
Due after ten years, amortized cost | 44,292 | |
Subtotal before securities without single maturities, amortized cost | 125,681 | |
Collateralized mortgage obligations, mortgage-backed and asset-backed securities, amortized cost | 271,488 | |
Investment securities available for sale, amortized cost | 397,169 | $ 464,589 |
Investment Securities Available for Sale, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract] | ||
Due after one year through five years, fair value | 9,947 | |
Due after five years through ten years, fair value | 70,063 | |
Due after ten years, fair value | 46,017 | |
Subtotal before securities without single maturities, fair value | 126,027 | |
Collateralized mortgage obligations, mortgage-backed and asset-backed securities, fair value | 272,551 | |
Investment securities available for sale, fair value | $ 398,578 | $ 453,758 |
Investment Securities Detail of
Investment Securities Detail of Sale of Securities (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Debt Securities, Available-for-sale [Abstract] | |||
Proceeds from sales | $ 198,699 | $ 75,401 | $ 108,584 |
Gross gains on sales | 1,046 | 101 | 752 |
Gross losses on sales | $ 1,133 | $ 364 | $ 426 |
Investment Securities Gross Unr
Investment Securities Gross Unrealized Losses - AFS (Details) $ in Thousands | Dec. 31, 2019USD ($)securities | Dec. 31, 2018USD ($) |
Debt Securities, Available-for-sale [Line Items] | ||
Investment securities available for sale, continuous unrealized loss position, less than 12 months, fair value | $ 150,616 | $ 90,592 |
Investment securities available for sale, continuous unrealized loss position, less than 12 months, gross unrealized losses | (1,142) | (1,216) |
Investment securities available for sale, continuous unrealized loss position, 12 months or longer, fair value | 56,826 | 317,472 |
Investment securities available for sale, continuous unrealized loss position, 12 months or longer, gross unrealized losses | (1,148) | (9,897) |
Investment securities available for sale, total, continuous unrealized loss position, fair value | 207,442 | 408,064 |
Investment securities available for sale, total, continuous unrealized loss position, gross unrealized losses | (2,290) | (11,113) |
State and political subdivisions [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Investment securities available for sale, continuous unrealized loss position, less than 12 months, fair value | 21,264 | |
Investment securities available for sale, continuous unrealized loss position, less than 12 months, gross unrealized losses | (221) | |
Investment securities available for sale, continuous unrealized loss position, 12 months or longer, fair value | 102,853 | |
Investment securities available for sale, continuous unrealized loss position, 12 months or longer, gross unrealized losses | (3,072) | |
Investment securities available for sale, total, continuous unrealized loss position, fair value | 124,117 | |
Investment securities available for sale, total, continuous unrealized loss position, gross unrealized losses | (3,293) | |
Collateralized mortgage obligations [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Investment securities available for sale, continuous unrealized loss position, less than 12 months, fair value | 54,521 | 32,230 |
Investment securities available for sale, continuous unrealized loss position, less than 12 months, gross unrealized losses | (335) | (250) |
Investment securities available for sale, continuous unrealized loss position, 12 months or longer, fair value | 35,546 | 124,774 |
Investment securities available for sale, continuous unrealized loss position, 12 months or longer, gross unrealized losses | (294) | (4,138) |
Investment securities available for sale, total, continuous unrealized loss position, fair value | 90,067 | 157,004 |
Investment securities available for sale, total, continuous unrealized loss position, gross unrealized losses | $ (629) | (4,388) |
Investment securities available for sale in unrealized loss positions, qualitative disclosure, number of positions | securities | 27 | |
Mortgage-backed securities [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Investment securities available for sale, continuous unrealized loss position, less than 12 months, fair value | $ 45,132 | 10,960 |
Investment securities available for sale, continuous unrealized loss position, less than 12 months, gross unrealized losses | (174) | (103) |
Investment securities available for sale, continuous unrealized loss position, 12 months or longer, fair value | 4,687 | 52,418 |
Investment securities available for sale, continuous unrealized loss position, 12 months or longer, gross unrealized losses | (59) | (1,332) |
Investment securities available for sale, total, continuous unrealized loss position, fair value | 49,819 | 63,378 |
Investment securities available for sale, total, continuous unrealized loss position, gross unrealized losses | $ (233) | (1,435) |
Investment securities available for sale in unrealized loss positions, qualitative disclosure, number of positions | securities | 7 | |
Asset-backed securities [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Investment securities available for sale, continuous unrealized loss position, less than 12 months, fair value | $ 3,641 | 6,668 |
Investment securities available for sale, continuous unrealized loss position, less than 12 months, gross unrealized losses | (4) | (31) |
Investment securities available for sale, continuous unrealized loss position, 12 months or longer, fair value | 7,075 | 16,486 |
Investment securities available for sale, continuous unrealized loss position, 12 months or longer, gross unrealized losses | (13) | (144) |
Investment securities available for sale, total, continuous unrealized loss position, fair value | 10,716 | 23,154 |
Investment securities available for sale, total, continuous unrealized loss position, gross unrealized losses | $ (17) | (175) |
Investment securities available for sale in unrealized loss positions, qualitative disclosure, number of positions | securities | 3 | |
Collateralized Loan Obligations [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Investment securities available for sale, continuous unrealized loss position, less than 12 months, fair value | $ 42,823 | |
Investment securities available for sale, continuous unrealized loss position, less than 12 months, gross unrealized losses | (128) | |
Investment securities available for sale, continuous unrealized loss position, 12 months or longer, fair value | 0 | |
Investment securities available for sale, continuous unrealized loss position, 12 months or longer, gross unrealized losses | 0 | |
Investment securities available for sale, total, continuous unrealized loss position, fair value | 42,823 | |
Investment securities available for sale, total, continuous unrealized loss position, gross unrealized losses | $ (128) | |
Investment securities available for sale in unrealized loss positions, qualitative disclosure, number of positions | securities | 7 | |
Trust preferred security [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Investment securities available for sale, continuous unrealized loss position, less than 12 months, fair value | 0 | |
Investment securities available for sale, continuous unrealized loss position, less than 12 months, gross unrealized losses | 0 | |
Investment securities available for sale, continuous unrealized loss position, 12 months or longer, fair value | 1,900 | |
Investment securities available for sale, continuous unrealized loss position, 12 months or longer, gross unrealized losses | (253) | |
Investment securities available for sale, total, continuous unrealized loss position, fair value | 1,900 | |
Investment securities available for sale, total, continuous unrealized loss position, gross unrealized losses | (253) | |
Corporate notes [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Investment securities available for sale, continuous unrealized loss position, less than 12 months, fair value | $ 4,499 | 19,470 |
Investment securities available for sale, continuous unrealized loss position, less than 12 months, gross unrealized losses | (501) | (611) |
Investment securities available for sale, continuous unrealized loss position, 12 months or longer, fair value | 9,518 | 19,041 |
Investment securities available for sale, continuous unrealized loss position, 12 months or longer, gross unrealized losses | (782) | (958) |
Investment securities available for sale, total, continuous unrealized loss position, fair value | 14,017 | 38,511 |
Investment securities available for sale, total, continuous unrealized loss position, gross unrealized losses | $ (1,283) | $ (1,569) |
Investment securities available for sale in unrealized loss positions, qualitative disclosure, number of positions | securities | 4 |
Investment Securities Other Nar
Investment Securities Other Narratives (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Investments, Debt and Equity Securities [Abstract] | ||
Securities pledged as collateral at amortized cost | $ 148,257 | $ 126,531 |
Loans and Allowance for Loan _3
Loans and Allowance for Loan Losses Schedule of Loans (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Loans Receivable [Line Items] | ||
Loans | $ 1,943,903 | $ 1,724,330 |
Net unamortized fees and costs | (2,240) | (2,500) |
Loans, net of unamortized fees and costs | 1,941,663 | 1,721,830 |
Loans with fixed rates of interest | 1,331,393 | 1,142,413 |
Loans with variable rates of interest | 612,510 | 581,917 |
Commercial [Member] | ||
Loans Receivable [Line Items] | ||
Loans | 431,044 | 358,763 |
Real Estate [Member] | ||
Loans Receivable [Line Items] | ||
Loans pledged as collateral | 910,000 | 800,000 |
Construction, land and land development [Member] | ||
Loans Receivable [Line Items] | ||
Loans | 264,193 | 245,810 |
1-4 family residential first mortgages [Member] | ||
Loans Receivable [Line Items] | ||
Loans | 54,475 | 49,052 |
Home equity [Member] | ||
Loans Receivable [Line Items] | ||
Loans | 12,380 | 14,469 |
Commercial real estate [Member] | ||
Loans Receivable [Line Items] | ||
Loans | 1,175,024 | 1,050,025 |
Consumer and other [Member] | ||
Loans Receivable [Line Items] | ||
Loans | $ 6,787 | $ 6,211 |
Loans and Allowance for Loan _4
Loans and Allowance for Loan Losses Schedule of Loan Transactions with Related Parties (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Loans and Leases Receivable, Related Parties [Roll Forward] | ||
Related party loans, due from related party, beginning of year | $ 153,476 | $ 165,097 |
Related party loans, new loans | 4,934 | 9,387 |
Related party loans, repayments | (24,749) | (21,008) |
Related party loans, due from related party, end of year | $ 133,661 | $ 153,476 |
Loans and Allowance for Loan _5
Loans and Allowance for Loan Losses Schedule of Impaired Loans With and Without an Allowance (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Loans, Impaired [Line Items] | |||
Impaired loans, with no related allowance, recorded investment | $ 538 | $ 1,813 | |
Impaired loans, with no related allowance, unpaid principal balance | 538 | 1,813 | |
Impaired loans, with related allowance, recorded investment | 0 | 115 | |
Impaired loans, with related allowance, unpaid principal balance | 0 | 115 | |
Impaired loans, recorded investment | 538 | 1,928 | |
Impaired loans, unpaid principal balance | 538 | 1,928 | |
Impaired loans, related allowance | 0 | 115 | |
Impaired loans, with no related allowance, average recorded investment | 1,178 | 1,573 | $ 433 |
Impaired loans, with no related allowance, interest income, accrual method | 69 | 6 | 2 |
Impaired loans, with related allowance, average recorded investment | 65 | 125 | 364 |
Impaired loans, with related allowance, interest income, accrual method | 6 | 0 | 8 |
Impaired loans, average recorded investment | 1,243 | 1,698 | 797 |
Impaired loans, interest income, accrual method | 75 | 6 | 10 |
Impaired loans, interest lost on nonaccrual loans | 25 | 96 | 47 |
Commercial [Member] | |||
Loans, Impaired [Line Items] | |||
Impaired loans, with no related allowance, recorded investment | 91 | 1,014 | |
Impaired loans, with no related allowance, unpaid principal balance | 91 | 1,014 | |
Impaired loans, with related allowance, recorded investment | 0 | 15 | |
Impaired loans, with related allowance, unpaid principal balance | 0 | 15 | |
Impaired loans, recorded investment | 91 | 1,029 | |
Impaired loans, unpaid principal balance | 91 | 1,029 | |
Impaired loans, related allowance | 0 | 15 | |
Impaired loans, with no related allowance, average recorded investment | 687 | 738 | 19 |
Impaired loans, with no related allowance, interest income, accrual method | 39 | 0 | 0 |
Impaired loans, with related allowance, average recorded investment | 7 | 1 | 60 |
Impaired loans, with related allowance, interest income, accrual method | 0 | 0 | 7 |
Impaired loans, average recorded investment | 694 | 739 | 79 |
Impaired loans, interest income, accrual method | 39 | 0 | 7 |
Construction, land and land development [Member] | |||
Loans, Impaired [Line Items] | |||
Impaired loans, with no related allowance, recorded investment | 0 | 0 | |
Impaired loans, with no related allowance, unpaid principal balance | 0 | 0 | |
Impaired loans, with related allowance, recorded investment | 0 | 0 | |
Impaired loans, with related allowance, unpaid principal balance | 0 | 0 | |
Impaired loans, recorded investment | 0 | 0 | |
Impaired loans, unpaid principal balance | 0 | 0 | |
Impaired loans, related allowance | 0 | 0 | |
Impaired loans, with no related allowance, average recorded investment | 0 | 0 | 0 |
Impaired loans, with no related allowance, interest income, accrual method | 0 | 0 | 0 |
Impaired loans, with related allowance, average recorded investment | 0 | 0 | 0 |
Impaired loans, with related allowance, interest income, accrual method | 0 | 0 | 0 |
Impaired loans, average recorded investment | 0 | 0 | 0 |
Impaired loans, interest income, accrual method | 0 | 0 | 0 |
1-4 family residential first mortgages [Member] | |||
Loans, Impaired [Line Items] | |||
Impaired loans, with no related allowance, recorded investment | 411 | 106 | |
Impaired loans, with no related allowance, unpaid principal balance | 411 | 106 | |
Impaired loans, with related allowance, recorded investment | 0 | 0 | |
Impaired loans, with related allowance, unpaid principal balance | 0 | 0 | |
Impaired loans, recorded investment | 411 | 106 | |
Impaired loans, unpaid principal balance | 411 | 106 | |
Impaired loans, related allowance | 0 | 0 | |
Impaired loans, with no related allowance, average recorded investment | 73 | 113 | 99 |
Impaired loans, with no related allowance, interest income, accrual method | 6 | 0 | 0 |
Impaired loans, with related allowance, average recorded investment | 0 | 0 | 0 |
Impaired loans, with related allowance, interest income, accrual method | 0 | 0 | 0 |
Impaired loans, average recorded investment | 73 | 113 | 99 |
Impaired loans, interest income, accrual method | 6 | 0 | 0 |
Home equity [Member] | |||
Loans, Impaired [Line Items] | |||
Impaired loans, with no related allowance, recorded investment | 31 | 41 | |
Impaired loans, with no related allowance, unpaid principal balance | 31 | 41 | |
Impaired loans, with related allowance, recorded investment | 0 | 0 | |
Impaired loans, with related allowance, unpaid principal balance | 0 | 0 | |
Impaired loans, recorded investment | 31 | 41 | |
Impaired loans, unpaid principal balance | 31 | 41 | |
Impaired loans, related allowance | 0 | 0 | |
Impaired loans, with no related allowance, average recorded investment | 34 | 122 | 39 |
Impaired loans, with no related allowance, interest income, accrual method | 2 | 6 | 2 |
Impaired loans, with related allowance, average recorded investment | 0 | 15 | 177 |
Impaired loans, with related allowance, interest income, accrual method | 0 | 0 | 1 |
Impaired loans, average recorded investment | 34 | 137 | 216 |
Impaired loans, interest income, accrual method | 2 | 6 | 3 |
Commercial real estate [Member] | |||
Loans, Impaired [Line Items] | |||
Impaired loans, with no related allowance, recorded investment | 5 | 652 | |
Impaired loans, with no related allowance, unpaid principal balance | 5 | 652 | |
Impaired loans, with related allowance, recorded investment | 0 | 100 | |
Impaired loans, with related allowance, unpaid principal balance | 0 | 100 | |
Impaired loans, recorded investment | 5 | 752 | |
Impaired loans, unpaid principal balance | 5 | 752 | |
Impaired loans, related allowance | 0 | 100 | |
Impaired loans, with no related allowance, average recorded investment | 384 | 600 | 276 |
Impaired loans, with no related allowance, interest income, accrual method | 22 | 0 | 0 |
Impaired loans, with related allowance, average recorded investment | 58 | 109 | 127 |
Impaired loans, with related allowance, interest income, accrual method | 6 | 0 | 0 |
Impaired loans, average recorded investment | 442 | 709 | 403 |
Impaired loans, interest income, accrual method | 28 | 0 | 0 |
Consumer and other [Member] | |||
Loans, Impaired [Line Items] | |||
Impaired loans, with no related allowance, recorded investment | 0 | 0 | |
Impaired loans, with no related allowance, unpaid principal balance | 0 | 0 | |
Impaired loans, with related allowance, recorded investment | 0 | 0 | |
Impaired loans, with related allowance, unpaid principal balance | 0 | 0 | |
Impaired loans, recorded investment | 0 | 0 | |
Impaired loans, unpaid principal balance | 0 | 0 | |
Impaired loans, related allowance | 0 | 0 | |
Impaired loans, with no related allowance, average recorded investment | 0 | 0 | 0 |
Impaired loans, with no related allowance, interest income, accrual method | 0 | 0 | 0 |
Impaired loans, with related allowance, average recorded investment | 0 | 0 | 0 |
Impaired loans, with related allowance, interest income, accrual method | 0 | 0 | 0 |
Impaired loans, average recorded investment | 0 | 0 | 0 |
Impaired loans, interest income, accrual method | $ 0 | $ 0 | $ 0 |
Loans and Allowance for Loan _6
Loans and Allowance for Loan Losses Impaired Loans (Details) $ in Thousands | Dec. 31, 2019USD ($)Borrowers | Dec. 31, 2018Borrowers |
Loans and Allowance for Loan Losses [Abstract] | ||
Impaired loans, number of borrowers | Borrowers | 6 | 10 |
Impaired loans also impaired at end of prior year, number of borrowers | Borrowers | 4 | |
Impaired loans also impaired at end of prior year | $ | $ 104 | |
Impaired loans, commitment to lend | $ | $ 0 |
Loans and Allowance for Loan _7
Loans and Allowance for Loan Losses Schedule of Past Due Loans (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Loans, Recorded Investment, Past Due [Line Items] | ||
Loans, recorded investment, past due | $ 228 | $ 211 |
Loans, recorded investment, current | 1,943,137 | 1,722,191 |
Loans, recorded investment, nonaccrual status | 538 | 1,928 |
Loans | 1,943,903 | 1,724,330 |
Commercial [Member] | ||
Loans, Recorded Investment, Past Due [Line Items] | ||
Loans, recorded investment, past due | 0 | 54 |
Loans, recorded investment, current | 430,953 | 357,680 |
Loans, recorded investment, nonaccrual status | 91 | 1,029 |
Loans | 431,044 | 358,763 |
Construction, land and land development [Member] | ||
Loans, Recorded Investment, Past Due [Line Items] | ||
Loans, recorded investment, past due | 0 | 0 |
Loans, recorded investment, current | 264,193 | 245,810 |
Loans, recorded investment, nonaccrual status | 0 | 0 |
Loans | 264,193 | 245,810 |
1-4 family residential first mortgages [Member] | ||
Loans, Recorded Investment, Past Due [Line Items] | ||
Loans, recorded investment, past due | 76 | 157 |
Loans, recorded investment, current | 53,988 | 48,789 |
Loans, recorded investment, nonaccrual status | 411 | 106 |
Loans | 54,475 | 49,052 |
Home equity [Member] | ||
Loans, Recorded Investment, Past Due [Line Items] | ||
Loans, recorded investment, past due | 0 | 0 |
Loans, recorded investment, current | 12,349 | 14,428 |
Loans, recorded investment, nonaccrual status | 31 | 41 |
Loans | 12,380 | 14,469 |
Commercial real estate [Member] | ||
Loans, Recorded Investment, Past Due [Line Items] | ||
Loans, recorded investment, past due | 152 | 0 |
Loans, recorded investment, current | 1,174,867 | 1,049,273 |
Loans, recorded investment, nonaccrual status | 5 | 752 |
Loans | 1,175,024 | 1,050,025 |
Consumer and other [Member] | ||
Loans, Recorded Investment, Past Due [Line Items] | ||
Loans, recorded investment, past due | 0 | 0 |
Loans, recorded investment, current | 6,787 | 6,211 |
Loans, recorded investment, nonaccrual status | 0 | 0 |
Loans | 6,787 | 6,211 |
Loans, 30 to 59 days past due [Member] | ||
Loans, Recorded Investment, Past Due [Line Items] | ||
Loans, recorded investment, past due | 76 | 211 |
Loans, 30 to 59 days past due [Member] | Commercial [Member] | ||
Loans, Recorded Investment, Past Due [Line Items] | ||
Loans, recorded investment, past due | 0 | 54 |
Loans, 30 to 59 days past due [Member] | Construction, land and land development [Member] | ||
Loans, Recorded Investment, Past Due [Line Items] | ||
Loans, recorded investment, past due | 0 | 0 |
Loans, 30 to 59 days past due [Member] | 1-4 family residential first mortgages [Member] | ||
Loans, Recorded Investment, Past Due [Line Items] | ||
Loans, recorded investment, past due | 76 | 157 |
Loans, 30 to 59 days past due [Member] | Home equity [Member] | ||
Loans, Recorded Investment, Past Due [Line Items] | ||
Loans, recorded investment, past due | 0 | 0 |
Loans, 30 to 59 days past due [Member] | Commercial real estate [Member] | ||
Loans, Recorded Investment, Past Due [Line Items] | ||
Loans, recorded investment, past due | 0 | 0 |
Loans, 30 to 59 days past due [Member] | Consumer and other [Member] | ||
Loans, Recorded Investment, Past Due [Line Items] | ||
Loans, recorded investment, past due | 0 | 0 |
Loans, 60 to 89 days past due [Member] | ||
Loans, Recorded Investment, Past Due [Line Items] | ||
Loans, recorded investment, past due | 152 | 0 |
Loans, 60 to 89 days past due [Member] | Commercial [Member] | ||
Loans, Recorded Investment, Past Due [Line Items] | ||
Loans, recorded investment, past due | 0 | 0 |
Loans, 60 to 89 days past due [Member] | Construction, land and land development [Member] | ||
Loans, Recorded Investment, Past Due [Line Items] | ||
Loans, recorded investment, past due | 0 | 0 |
Loans, 60 to 89 days past due [Member] | 1-4 family residential first mortgages [Member] | ||
Loans, Recorded Investment, Past Due [Line Items] | ||
Loans, recorded investment, past due | 0 | 0 |
Loans, 60 to 89 days past due [Member] | Home equity [Member] | ||
Loans, Recorded Investment, Past Due [Line Items] | ||
Loans, recorded investment, past due | 0 | 0 |
Loans, 60 to 89 days past due [Member] | Commercial real estate [Member] | ||
Loans, Recorded Investment, Past Due [Line Items] | ||
Loans, recorded investment, past due | 152 | 0 |
Loans, 60 to 89 days past due [Member] | Consumer and other [Member] | ||
Loans, Recorded Investment, Past Due [Line Items] | ||
Loans, recorded investment, past due | 0 | 0 |
Loans, 90 or more days past due [Member] | ||
Loans, Recorded Investment, Past Due [Line Items] | ||
Loans, recorded investment, past due | 0 | 0 |
Loans, 90 or more days past due [Member] | Commercial [Member] | ||
Loans, Recorded Investment, Past Due [Line Items] | ||
Loans, recorded investment, past due | 0 | 0 |
Loans, 90 or more days past due [Member] | Construction, land and land development [Member] | ||
Loans, Recorded Investment, Past Due [Line Items] | ||
Loans, recorded investment, past due | 0 | 0 |
Loans, 90 or more days past due [Member] | 1-4 family residential first mortgages [Member] | ||
Loans, Recorded Investment, Past Due [Line Items] | ||
Loans, recorded investment, past due | 0 | 0 |
Loans, 90 or more days past due [Member] | Home equity [Member] | ||
Loans, Recorded Investment, Past Due [Line Items] | ||
Loans, recorded investment, past due | 0 | 0 |
Loans, 90 or more days past due [Member] | Commercial real estate [Member] | ||
Loans, Recorded Investment, Past Due [Line Items] | ||
Loans, recorded investment, past due | 0 | 0 |
Loans, 90 or more days past due [Member] | Consumer and other [Member] | ||
Loans, Recorded Investment, Past Due [Line Items] | ||
Loans, recorded investment, past due | $ 0 | $ 0 |
Loans and Allowance for Loan _8
Loans and Allowance for Loan Losses Schedule of Troubled Debt Restructured Loans (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Loans and Allowance for Loan Losses [Abstract] | ||
Troubled debt restructured loans included in nonaccrual | $ 4 | $ 652 |
Troubled debt restructured loans | $ 4 | $ 652 |
Loans and Allowance for Loan _9
Loans and Allowance for Loan Losses Schedule of Troubled Debt Restructured Loan Modifications (Details) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019USD ($)loans | Dec. 31, 2018USD ($)loans | Dec. 31, 2017USD ($)loans | |
Loans and Allowance for Loan Losses [Abstract] | |||
Troubled debt restructured loan modifications, pre-modification recorded investment | $ 0 | $ 560 | $ 0 |
Troubled debt restructured loan modifications, post-modification recorded investment | $ 0 | $ 560 | $ 0 |
Troubled debt restructured loan modifications, number | loans | 0 | 1 | 0 |
Loans and Allowance for Loan_10
Loans and Allowance for Loan Losses Schedule of Troubled Debt Restructured Loans that Subsequently Defaulted (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Loans and Allowance for Loan Losses [Abstract] | |||
Troubled debt restructured loans, subsequent default, recorded investment | $ 0 | $ 544 | $ 0 |
Loans and Allowance for Loan_11
Loans and Allowance for Loan Losses Schedule of Loans by Credit Quality Indicator (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Loans, Recorded Investment [Line Items] | ||
Loans | $ 1,943,903 | $ 1,724,330 |
Commercial [Member] | ||
Loans, Recorded Investment [Line Items] | ||
Loans | 431,044 | 358,763 |
Construction, land and land development [Member] | ||
Loans, Recorded Investment [Line Items] | ||
Loans | 264,193 | 245,810 |
1-4 family residential first mortgages [Member] | ||
Loans, Recorded Investment [Line Items] | ||
Loans | 54,475 | 49,052 |
Home Equity Loan [Member] | ||
Loans, Recorded Investment [Line Items] | ||
Loans | 12,380 | 14,469 |
Commercial real estate [Member] | ||
Loans, Recorded Investment [Line Items] | ||
Loans | 1,175,024 | 1,050,025 |
Consumer and other [Member] | ||
Loans, Recorded Investment [Line Items] | ||
Loans | 6,787 | 6,211 |
Pass [Member] | ||
Loans, Recorded Investment [Line Items] | ||
Loans | 1,891,978 | 1,670,388 |
Pass [Member] | Commercial [Member] | ||
Loans, Recorded Investment [Line Items] | ||
Loans | 410,070 | 336,861 |
Pass [Member] | Construction, land and land development [Member] | ||
Loans, Recorded Investment [Line Items] | ||
Loans | 264,132 | 245,810 |
Pass [Member] | 1-4 family residential first mortgages [Member] | ||
Loans, Recorded Investment [Line Items] | ||
Loans | 52,168 | 47,923 |
Pass [Member] | Home Equity Loan [Member] | ||
Loans, Recorded Investment [Line Items] | ||
Loans | 12,349 | 14,352 |
Pass [Member] | Commercial real estate [Member] | ||
Loans, Recorded Investment [Line Items] | ||
Loans | 1,146,472 | 1,019,256 |
Pass [Member] | Consumer and other [Member] | ||
Loans, Recorded Investment [Line Items] | ||
Loans | 6,787 | 6,186 |
Watch [Member] | ||
Loans, Recorded Investment [Line Items] | ||
Loans | 49,057 | 49,958 |
Watch [Member] | Commercial [Member] | ||
Loans, Recorded Investment [Line Items] | ||
Loans | 18,680 | 19,886 |
Watch [Member] | Construction, land and land development [Member] | ||
Loans, Recorded Investment [Line Items] | ||
Loans | 61 | 0 |
Watch [Member] | 1-4 family residential first mortgages [Member] | ||
Loans, Recorded Investment [Line Items] | ||
Loans | 1,841 | 963 |
Watch [Member] | Home Equity Loan [Member] | ||
Loans, Recorded Investment [Line Items] | ||
Loans | 0 | 46 |
Watch [Member] | Commercial real estate [Member] | ||
Loans, Recorded Investment [Line Items] | ||
Loans | 28,475 | 29,063 |
Watch [Member] | Consumer and other [Member] | ||
Loans, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Substandard [Member] | ||
Loans, Recorded Investment [Line Items] | ||
Loans | 2,868 | 3,984 |
Substandard [Member] | Commercial [Member] | ||
Loans, Recorded Investment [Line Items] | ||
Loans | 2,294 | 2,016 |
Substandard [Member] | Construction, land and land development [Member] | ||
Loans, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Substandard [Member] | 1-4 family residential first mortgages [Member] | ||
Loans, Recorded Investment [Line Items] | ||
Loans | 466 | 166 |
Substandard [Member] | Home Equity Loan [Member] | ||
Loans, Recorded Investment [Line Items] | ||
Loans | 31 | 71 |
Substandard [Member] | Commercial real estate [Member] | ||
Loans, Recorded Investment [Line Items] | ||
Loans | 77 | 1,706 |
Substandard [Member] | Consumer and other [Member] | ||
Loans, Recorded Investment [Line Items] | ||
Loans | 0 | 25 |
Doubtful [Member] | ||
Loans, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Doubtful [Member] | Commercial [Member] | ||
Loans, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Doubtful [Member] | Construction, land and land development [Member] | ||
Loans, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Doubtful [Member] | 1-4 family residential first mortgages [Member] | ||
Loans, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Doubtful [Member] | Home Equity Loan [Member] | ||
Loans, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Doubtful [Member] | Commercial real estate [Member] | ||
Loans, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Doubtful [Member] | Consumer and other [Member] | ||
Loans, Recorded Investment [Line Items] | ||
Loans | $ 0 | $ 0 |
Loans and Allowance for Loan_12
Loans and Allowance for Loan Losses Schedule of Allowance for Loan Loss Activity (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Allowance for Loan Losses [Roll Forward] | |||||||||||
Allowance for loan losses, beginning balance | $ 16,689 | $ 16,430 | $ 16,689 | $ 16,430 | $ 16,112 | ||||||
Charge-offs | (452) | (235) | (375) | ||||||||
Recoveries | 398 | 744 | 693 | ||||||||
Provision for loan losses | $ 300 | $ 300 | $ 0 | 0 | $ 0 | $ (400) | $ 0 | 150 | 600 | (250) | 0 |
Allowance for loan losses, ending balance | 17,235 | 16,689 | 17,235 | 16,689 | 16,430 | ||||||
Commercial [Member] | |||||||||||
Allowance for Loan Losses [Roll Forward] | |||||||||||
Allowance for loan losses, beginning balance | 3,508 | 3,866 | 3,508 | 3,866 | 3,881 | ||||||
Charge-offs | (452) | (208) | (199) | ||||||||
Recoveries | 290 | 673 | 232 | ||||||||
Provision for loan losses | 529 | (823) | (48) | ||||||||
Allowance for loan losses, ending balance | 3,875 | 3,508 | 3,875 | 3,508 | 3,866 | ||||||
Construction, land and land development [Member] | |||||||||||
Allowance for Loan Losses [Roll Forward] | |||||||||||
Allowance for loan losses, beginning balance | 2,384 | 2,213 | 2,384 | 2,213 | 2,639 | ||||||
Charge-offs | 0 | 0 | 0 | ||||||||
Recoveries | 0 | 0 | 398 | ||||||||
Provision for loan losses | (9) | 171 | (824) | ||||||||
Allowance for loan losses, ending balance | 2,375 | 2,384 | 2,375 | 2,384 | 2,213 | ||||||
1-4 family residential first mortgages [Member] | |||||||||||
Allowance for Loan Losses [Roll Forward] | |||||||||||
Allowance for loan losses, beginning balance | 250 | 319 | 250 | 319 | 317 | ||||||
Charge-offs | 0 | 0 | 0 | ||||||||
Recoveries | 14 | 18 | 15 | ||||||||
Provision for loan losses | (48) | (87) | (13) | ||||||||
Allowance for loan losses, ending balance | 216 | 250 | 216 | 250 | 319 | ||||||
Home equity [Member] | |||||||||||
Allowance for Loan Losses [Roll Forward] | |||||||||||
Allowance for loan losses, beginning balance | 171 | 186 | 171 | 186 | 478 | ||||||
Charge-offs | 0 | (24) | (176) | ||||||||
Recoveries | 74 | 24 | 28 | ||||||||
Provision for loan losses | (118) | (15) | (144) | ||||||||
Allowance for loan losses, ending balance | 127 | 171 | 127 | 171 | 186 | ||||||
Commercial real estate [Member] | |||||||||||
Allowance for Loan Losses [Roll Forward] | |||||||||||
Allowance for loan losses, beginning balance | 10,301 | 9,770 | 10,301 | 9,770 | 8,697 | ||||||
Charge-offs | 0 | 0 | 0 | ||||||||
Recoveries | 12 | 13 | 13 | ||||||||
Provision for loan losses | 252 | 518 | 1,060 | ||||||||
Allowance for loan losses, ending balance | 10,565 | 10,301 | 10,565 | 10,301 | 9,770 | ||||||
Consumer and other [Member] | |||||||||||
Allowance for Loan Losses [Roll Forward] | |||||||||||
Allowance for loan losses, beginning balance | $ 75 | $ 76 | 75 | 76 | 100 | ||||||
Charge-offs | 0 | (3) | 0 | ||||||||
Recoveries | 8 | 16 | 7 | ||||||||
Provision for loan losses | (6) | (14) | (31) | ||||||||
Allowance for loan losses, ending balance | $ 77 | $ 75 | $ 77 | $ 75 | $ 76 |
Loans and Allowance for Loan_13
Loans and Allowance for Loan Losses Schedule of Allowance for Loan Losses Based on Impairment Method (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Loans, Allowance for Credit Losses [Line Items] | ||
Allowance for loan losses, individually evaluated for impairment | $ 0 | $ 115 |
Allowance for loan losses, collectively evaluated for impairment | 17,235 | 16,574 |
Allowance for loan losses | 17,235 | 16,689 |
Commercial [Member] | ||
Loans, Allowance for Credit Losses [Line Items] | ||
Allowance for loan losses, individually evaluated for impairment | 0 | 15 |
Allowance for loan losses, collectively evaluated for impairment | 3,875 | 3,493 |
Allowance for loan losses | 3,875 | 3,508 |
Construction, land and land development [Member] | ||
Loans, Allowance for Credit Losses [Line Items] | ||
Allowance for loan losses, individually evaluated for impairment | 0 | 0 |
Allowance for loan losses, collectively evaluated for impairment | 2,375 | 2,384 |
Allowance for loan losses | 2,375 | 2,384 |
1-4 family residential first mortgages [Member] | ||
Loans, Allowance for Credit Losses [Line Items] | ||
Allowance for loan losses, individually evaluated for impairment | 0 | 0 |
Allowance for loan losses, collectively evaluated for impairment | 216 | 250 |
Allowance for loan losses | 216 | 250 |
Home equity [Member] | ||
Loans, Allowance for Credit Losses [Line Items] | ||
Allowance for loan losses, individually evaluated for impairment | 0 | 0 |
Allowance for loan losses, collectively evaluated for impairment | 127 | 171 |
Allowance for loan losses | 127 | 171 |
Commercial real estate [Member] | ||
Loans, Allowance for Credit Losses [Line Items] | ||
Allowance for loan losses, individually evaluated for impairment | 0 | 100 |
Allowance for loan losses, collectively evaluated for impairment | 10,565 | 10,201 |
Allowance for loan losses | 10,565 | 10,301 |
Consumer and other [Member] | ||
Loans, Allowance for Credit Losses [Line Items] | ||
Allowance for loan losses, individually evaluated for impairment | 0 | 0 |
Allowance for loan losses, collectively evaluated for impairment | 77 | 75 |
Allowance for loan losses | $ 77 | $ 75 |
Loans and Allowance for Loan_14
Loans and Allowance for Loan Losses Schedule of Loans by Impairment Method (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Loans, Allowance for Credit Losses [Line Items] | ||
Loans, individually evaluated for impairment | $ 538 | $ 1,928 |
Loans, collectively evaluated for impairment | 1,943,365 | 1,722,402 |
Loans | 1,943,903 | 1,724,330 |
Commercial [Member] | ||
Loans, Allowance for Credit Losses [Line Items] | ||
Loans, individually evaluated for impairment | 91 | 1,029 |
Loans, collectively evaluated for impairment | 430,953 | 357,734 |
Loans | 431,044 | 358,763 |
Construction, land and land development [Member] | ||
Loans, Allowance for Credit Losses [Line Items] | ||
Loans, individually evaluated for impairment | 0 | 0 |
Loans, collectively evaluated for impairment | 264,193 | 245,810 |
Loans | 264,193 | 245,810 |
1-4 family residential first mortgages [Member] | ||
Loans, Allowance for Credit Losses [Line Items] | ||
Loans, individually evaluated for impairment | 411 | 106 |
Loans, collectively evaluated for impairment | 54,064 | 48,946 |
Loans | 54,475 | 49,052 |
Home equity [Member] | ||
Loans, Allowance for Credit Losses [Line Items] | ||
Loans, individually evaluated for impairment | 31 | 41 |
Loans, collectively evaluated for impairment | 12,349 | 14,428 |
Loans | 12,380 | 14,469 |
Commercial real estate [Member] | ||
Loans, Allowance for Credit Losses [Line Items] | ||
Loans, individually evaluated for impairment | 5 | 752 |
Loans, collectively evaluated for impairment | 1,175,019 | 1,049,273 |
Loans | 1,175,024 | 1,050,025 |
Consumer and other [Member] | ||
Loans, Allowance for Credit Losses [Line Items] | ||
Loans, individually evaluated for impairment | 0 | 0 |
Loans, collectively evaluated for impairment | 6,787 | 6,211 |
Loans | $ 6,787 | $ 6,211 |
Premises and Equipment, Net (De
Premises and Equipment, Net (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Premises and equipment [Line Items] | ||
Premises and equipment, gross | $ 39,435 | $ 30,311 |
Accumulated depreciation | (9,755) | (8,820) |
Premises and equipment, net | 29,680 | 21,491 |
Land [Member] | ||
Premises and equipment [Line Items] | ||
Premises and equipment, gross | 4,176 | 4,323 |
Buildings [Member] | ||
Premises and equipment [Line Items] | ||
Premises and equipment, gross | 13,834 | 14,120 |
Lease Agreements [Member] | ||
Premises and equipment [Line Items] | ||
Premises and equipment, gross | 8,870 | 0 |
Leasehold improvements [Member] | ||
Premises and equipment [Line Items] | ||
Premises and equipment, gross | 3,963 | 3,941 |
Furniture and equipment [Member] | ||
Premises and equipment [Line Items] | ||
Premises and equipment, gross | $ 8,592 | $ 7,927 |
Operating Leases Operating Le_3
Operating Leases Operating Leases Narrative (Details) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019USD ($)Bank_branches | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | |
Leases [Abstract] | |||
Number of bank branches with leased real estate | Bank_branches | 9 | ||
Operating Lease, Weighted Average Remaining Lease Term | 7 years 8 months 5 days | ||
Operating Lease, Weighted Average Discount Rate, Percent | 3.17% | ||
Operating Lease, Liability | $ 9,102 | ||
Operating Lease, Expense | $ 1,630 | $ 1,540 | $ 1,344 |
Operating Leases Schedule of op
Operating Leases Schedule of operating lease payments (Details) $ in Thousands | Dec. 31, 2019USD ($) |
Leases [Abstract] | |
Lessee, Operating Lease, Liability, Payments, Due Next Twelve Months | $ 1,681 |
Lessee, Operating Lease, Liability, Payments, Due Year Two | 1,627 |
Lessee, Operating Lease, Liability, Payments, Due Year Three | 1,583 |
Lessee, Operating Lease, Liability, Payments, Due Year Four | 1,565 |
Lessee, Operating Lease, Liability, Payments, Due Year Five | 910 |
Lessee, Operating Lease, Liability, Payments, Due after Year Five | 2,972 |
Lessee, Operating Lease, Liability, Payments, Due | 10,338 |
Operating lease discount effect | (1,236) |
Operating Lease, Liability, Current | $ 9,102 |
Deposits Deposits (Details)
Deposits Deposits (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Time Deposits [Line Items] | ||
Time deposit maturities, 2020 | $ 252,322 | |
Time deposit maturities, 2021 | 23,614 | |
Time deposit maturities, 2022 | 9,081 | |
Time deposit maturities, 2023 | 4,959 | |
Time deposit maturities, 2024 | 1,558 | |
Time deposits, total | 291,534 | |
Interest-bearing brokered deposits | 50,000 | $ 0 |
CDARS deposits | 95,889 | 92,315 |
ICS checking deposits | 95,618 | 94,203 |
ICS money market deposits | $ 235,411 | $ 232,146 |
Subordinated Notes (Details)
Subordinated Notes (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Jul. 18, 2003 | |
Debt Instrument [Line Items] | |||
Subordinated notes, gross | $ 20,438,000 | $ 20,425,000 | |
Subordinated debt [Member] | |||
Debt Instrument [Line Items] | |||
Subordinated notes, gross | $ 20,619,000 | ||
Deferral period option, junior subordinated debentures | 5 years | ||
Dividends allowed, deferral of subordinated debt | $ 0 | ||
Term of security maturity | 30 years | ||
Debt instrument, variable interest rate period end | 5.01% | ||
Debt instrument, frequency of periodic payment | quarterly | ||
Debt instrument, interest rate, effective percentage | 5.07% | ||
Debt instrument, unamortized discount and debt issuance costs | $ 181,000 | $ 194,000 | |
Subordinated debt with an interest rate swap contract | $ 20,000,000 | ||
London Interbank Offered Rate (LIBOR) [Member] | Subordinated debt [Member] | |||
Debt Instrument [Line Items] | |||
Debt instrument, description of variable rate basis | 3-month LIBOR | ||
Debt instrument, basis spread on variable rate | 3.05% |
Federal Home Loan Bank Advanc_3
Federal Home Loan Bank Advances, Maturities Summary (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Federal Home Loan Bank Advances Maturities Summary [Line Items] | ||
Federal Home Loan Bank, advances, fixed rate, maturing in the next 12 months | $ 125,000 | $ 60,000 |
Federal Home Loan Bank, advances, floating rate, maturing in the next 12 months | 55,000 | 25,000 |
Federal Home Loan Bank, advances, fixed rate, maturing after year one | 0 | |
Federal Home Loan Bank, advances, floating rate, maturing after one year | 55,000 | |
Federal Home Loan Bank, advances, gross | 180,000 | 140,000 |
Federal Home Loan Bank, advances, discount | (635) | (2,122) |
Federal Home Loan Bank advances, net | $ 179,365 | $ 137,878 |
Federal Home Loan Bank, advances, weighted average interest rate | 1.99% | 2.94% |
Federal Home Loan Bank, advances, weighted average effective interest rate | 2.90% | 3.97% |
Fixed Rate FHLB Advances [Domain] | ||
Federal Home Loan Bank Advances Maturities Summary [Line Items] | ||
Federal Home Loan Bank, advances, weighted average interest rate, maturing in the next 12 months | 1.87% | 2.69% |
Federal Home Loan Bank, advances, weighted average interest rate, maturing in year two | 0.00% | |
Federal Home Loan Bank, advances, weighted average effective interest rate, maturing in the next 12 months | 2.21% | 2.69% |
Federal Home Loan Bank, advances, weighted average interest rate, maturing in year two | 0.00% | |
Variable Rate FHLB Advances[Domain] | ||
Federal Home Loan Bank Advances Maturities Summary [Line Items] | ||
Federal Home Loan Bank, advances, weighted average interest rate, maturing in the next 12 months | 2.27% | 3.08% |
Federal Home Loan Bank, advances, weighted average interest rate, maturing in year two | 3.14% | |
Federal Home Loan Bank, advances, weighted average effective interest rate, maturing in the next 12 months | 4.46% | 5.03% |
Federal Home Loan Bank, advances, weighted average interest rate, maturing in year two | 4.85% |
Federal Home Loan Bank Advanc_4
Federal Home Loan Bank Advances (Other Narratives) (Details) - USD ($) | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 21, 2012 | |
Line of Credit Facility [Line Items] | ||||
Federal Home Loan Bank advances, modified | $ 80,000,000 | |||
Debt instrument, unamortized prepayment discount, gross | $ 11,152,000 | |||
Amortization of debt prepayment discount | $ 1,486,000 | $ 1,496,000 | $ 1,496,000 | |
Additional borrowing capacity, Federal Home Loan Bank advances | 322,000,000 | |||
Federal funds lines of credit at correspondent banks [Member] | ||||
Line of Credit Facility [Line Items] | ||||
Amount outstanding, line of credit | 0 | |||
Federal funds lines of credit at correspondent banks [Member] | Unsecured debt [Member] | ||||
Line of Credit Facility [Line Items] | ||||
Maximum borrowing capacity, line of credit | 67,000,000 | |||
Maturity date September 21, 2020 [Member] | ||||
Line of Credit Facility [Line Items] | ||||
Federal Loan Home Bank advances with an interest rate swap contract | 30,000,000 | |||
Notional of swaps hedging rolling funding [Member] | ||||
Line of Credit Facility [Line Items] | ||||
Federal Loan Home Bank advances with an interest rate swap contract | $ 125,000,000 |
Long-term debt (Details)
Long-term debt (Details) - USD ($) | Dec. 21, 2018 | May 25, 2017 | Jun. 30, 2013 | Dec. 31, 2019 | Dec. 31, 2018 |
Secured debt [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt instrument, face amount | $ 25,000,000 | ||||
Debt instrument, periodic payment, principal | $ 625,000 | ||||
Debt instrument, gross | $ 11,250,000 | $ 15,250,000 | |||
Secured debt [Member] | London Interbank Offered Rate (LIBOR) [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt instrument, basis spread on variable rate | 1.95% | ||||
Debt instrument, description of variable rate basis | 30-day LIBOR | ||||
Debt instrument, interest rate, effective percentage | 3.64% | ||||
Contract payable [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt instrument, face amount | $ 765,000 | ||||
Debt instrument, term | 9 years | ||||
Debt instrument, gross | $ 189,000 | $ 304,000 | |||
Debt instrument, interest rate, stated percentage | 1.25% | ||||
Special purpose subsidiary debt [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Maturity Date | Dec. 31, 2048 | ||||
Debt instrument, face amount | $ 11,486,000 | ||||
Debt instrument, frequency of periodic payment | monthly | ||||
Debt instrument, gross | $ 11,486,000 | ||||
Debt instrument, interest rate, stated percentage | 1.00% |
Long-term debt Maturities of lo
Long-term debt Maturities of long-term debt (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Long-term Debt, Unclassified [Abstract] | ||
Long-term debt, maturities, repayments of principal in next twelve months | $ 1,367 | |
Long-term debt, maturities, repayments of principal in year two | 2,537 | |
Long-term debt, maturities, repayments of principal in year three | 7,535 | |
Long-term debt, maturities, repayments of principal in year four | 0 | |
Long-term debt, maturities, repayments of principal in year five | 0 | |
Long-term debt, maturities, repayments of principal after year five | 11,486 | |
Long-term debt | $ 22,925 | $ 27,040 |
Derivatives (Details)
Derivatives (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2015 | |
Interest Rate Swap [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Cash pledged as collateral | $ 6,570 | $ 0 | ||
Interest Rate Swap [Member] | Counterparties [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Cash pledged as collateral | 0 | $ 2,410 | ||
Cash flow hedging [Member] | Notional amount of swaps hedging money market deposits [Member] | Designated as hedging instrument [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative, notional amount | 110,000 | |||
Cash flow hedging [Member] | Notional of swaps hedging rolling funding [Member] | Designated as hedging instrument [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative, notional amount | $ 125,000 | |||
Cash flow hedging [Member] | Forward-starting interest rate swaps [Member] | Designated as hedging instrument [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative, average variable interest rate | 0.00% | |||
Derivative, average fixed interest rate | 1.74% | |||
Derivative, average remaining maturity | 6 years 1 month 10 days | |||
Derivative, notional amount | $ 50,000 | |||
Cash flow hedging [Member] | Forward-starting interest rate swaps [Member] | Designated as hedging instrument [Member] | Other Liabilities [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Interest rate cash flow hedge liability at fair value | (343) | |||
Cash flow hedging [Member] | Swaps hedging FHLB advances and subordinated notes [Domain] | Designated as hedging instrument [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative, notional amount | 50,000 | |||
Cash flow hedging [Member] | Terminated interest rate swap [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative termination fee paid | $ 541 | |||
Cash flow hedging [Member] | Terminated interest rate swap [Member] | Designated as hedging instrument [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative, notional amount | $ 70,000 | |||
Cash flow hedging [Member] | Interest Rate Swap [Member] | Designated as hedging instrument [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative, average variable interest rate | 3.22% | |||
Derivative, average fixed interest rate | 2.82% | |||
Derivative, average remaining maturity | 5 years 8 months 12 days | |||
Derivative, notional amount | 335,000 | $ 110,000 | ||
Cash flow hedging [Member] | Interest Rate Swap [Member] | Designated as hedging instrument [Member] | Other assets [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Interest rate cash flow hedge asset at fair value | $ 403 | $ 1,863 | ||
Derivative, average variable interest rate | 2.62% | |||
Derivative, average fixed interest rate | 2.37% | |||
Derivative, average remaining maturity | 5 years 2 months | |||
Derivative, notional amount | $ 70,000 | |||
Cash flow hedging [Member] | Interest Rate Swap [Member] | Designated as hedging instrument [Member] | Other Liabilities [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Interest rate cash flow hedge liability at fair value | $ (5,786) | |||
Derivative, average variable interest rate | 1.84% | |||
Derivative, average fixed interest rate | 2.26% | |||
Derivative, average remaining maturity | 5 years 6 months | |||
Derivative, notional amount | $ 215,000 | |||
Scenario, forecast [Member] | Cash flow hedging [Member] | Interest Rate Swap [Member] | Designated as hedging instrument [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative instruments, gain (loss) reclassification from accumulated OCI to income, estimated net amount to be transferred | $ 751 |
Derivatives Pre-Tax Losses (Det
Derivatives Pre-Tax Losses (Details) - Designated as hedging instrument [Member] - Interest rate swap [Member] - Cash flow hedging [Member] - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Derivative Instruments, Gain (Loss) [Line Items] | |||
Unrealized holding gains (losses) arising during the period | $ (7,355) | $ 1,044 | $ (66) |
Interest expense [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gain (loss) reclassified from accumulated OCI into income, effective portion, net | $ 142 | $ (105) | $ (413) |
Income Taxes Schedule of Compon
Income Taxes Schedule of Components of Income Tax Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Income Tax Disclosure [Abstract] | |||||||||||
Current federal income tax expense | $ 5,112 | $ 5,012 | $ 8,822 | ||||||||
Current state income tax expense | 1,973 | 1,907 | 1,713 | ||||||||
Deferred federal income tax expense | (17) | (277) | 2,527 | ||||||||
Deferred state income tax expense | (16) | (82) | 306 | ||||||||
Income tax expense | $ 1,946 | $ 1,912 | $ 1,629 | $ 1,565 | $ 945 | $ 2,507 | $ 1,600 | $ 1,508 | $ 7,052 | $ 6,560 | $ 13,368 |
Income Taxes Schedule of Effect
Income Taxes Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Income Tax Disclosure [Abstract] | |||||||||||
Income tax reconciliation, income tax expense, at federal statutory income tax rate, amount | $ 7,506 | $ 7,364 | $ 12,753 | ||||||||
Effective income tax rate reconciliation, at federal statutory income tax rate, percent | 21.00% | 21.00% | 35.00% | ||||||||
Income tax reconciliation, state income taxes, amount | $ 1,543 | $ 1,425 | $ 1,146 | ||||||||
Effective income tax rate reconciliation, state income taxes, percent | 4.30% | 4.10% | 3.20% | ||||||||
Income tax reconciliation, tax exempt interest income, amount | $ (804) | $ (1,390) | $ (2,023) | ||||||||
Effective income rate tax reconciliation, tax exempt interest income, percent | (2.20%) | (4.00%) | (5.60%) | ||||||||
Income tax reconciliation, nondeductible interest expense to own tax-exempts, amount | $ 183 | $ 231 | $ 152 | ||||||||
Effective income tax rate reconciliation, nondeductible interest expense to own tax-exempts, percent | 0.50% | 0.70% | 0.40% | ||||||||
Income tax reconciliation, tax-exempt increase in cash value of life insurance and gains, amount | $ (135) | $ (132) | $ (336) | ||||||||
Effective income tax rate reconciliation, tax-exempt increase in cash value of life insurance and gains, percent | (0.40%) | (0.40%) | (0.90%) | ||||||||
Income tax reconciliation, stock compensation, amount | $ (13) | $ (219) | $ (261) | ||||||||
Effective income tax reconciliation, stock compensation, percent | (0.00%) | (0.60%) | (0.70%) | ||||||||
Income tax reconciliation, change in enacted tax rate, amount | $ 0 | $ 0 | $ 2,340 | ||||||||
Effective income tax rate reconciliation,change in enacted rate, percent | 0.00% | 0.00% | 6.40% | ||||||||
Income tax reconciliation, amended tax returns, amount | $ 0 | $ 222 | $ 0 | ||||||||
Effective income tax reconciliation, amended tax returns, percent | 0.00% | 0.60% | 0.00% | ||||||||
Income tax reconciliation, federal income tax credits, amount | $ (1,265) | $ (1,140) | $ (410) | ||||||||
Effective income tax rate reconciliation, federal income tax credits, percent | (3.50%) | (3.30%) | (1.10%) | ||||||||
Income tax reconciliation, other adjustments, amount | $ 37 | $ 199 | $ 7 | ||||||||
Effective income tax rate reconciliation, other adjustments, percent | 0.10% | 0.60% | 0.00% | ||||||||
Income tax expense | $ 1,946 | $ 1,912 | $ 1,629 | $ 1,565 | $ 945 | $ 2,507 | $ 1,600 | $ 1,508 | $ 7,052 | $ 6,560 | $ 13,368 |
Effective income tax rate | 19.80% | 18.70% | 36.70% |
Income Taxes Schedule of Deferr
Income Taxes Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Income Tax Disclosure [Abstract] | ||
Deferred tax assets, allowance for loan losses | $ 4,309 | $ 4,172 |
Deferred tax assets, unrealized losses on securities available for sale | 0 | 2,708 |
Deferred tax assets, unrealized losses on interest rate swaps | 1,441 | 0 |
Deferred tax assets, lease liabilities | 2,275 | 0 |
Deferred tax assets, accrued expenses | 297 | 346 |
Deferred tax assets, restricted stock unit compensation | 832 | 704 |
Deferred tax assets, state net operating loss carryforward | 1,114 | 1,021 |
Deferred tax assets, capital loss carryforwards | 3 | 0 |
Deferred tax assets, other | 53 | 67 |
Deferred tax assets, gross | 10,324 | 9,018 |
Deferred tax liabilities, right-of-use assets | 2,218 | 0 |
Deferred tax liabilities, deferred loan costs | 218 | 183 |
Deferred tax liabilities, unrealized gains on securities | 352 | 0 |
Deferred tax liabilities, net unrealized gains on interest rate swaps | 0 | 429 |
Deferred tax liabilities, premises and equipment | 839 | 694 |
Deferred tax liabilities, other | 219 | 173 |
Deferred tax liabilities, gross | 3,846 | 1,479 |
Deferred tax assets, net, before valuation allowance | 6,478 | 7,539 |
Valuation allowance | (1,117) | (1,021) |
Deferred tax assets, net | $ 5,361 | $ 6,518 |
Income Taxes Schedule of Operat
Income Taxes Schedule of Operating Loss Carryforwards (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2019USD ($) | |
Operating Loss Carryforwards [Line Items] | |
State net operating loss carryforwards | $ 27,862 |
Federal and State Capital Loss Carryforward | $ 13 |
Minimum [Member] | |
Operating Loss Carryforwards [Line Items] | |
State net operating loss carryforwards, expiration dates | Dec. 31, 2019 |
Maximum [Member] | |
Operating Loss Carryforwards [Line Items] | |
Capital loss carryforwards, expiration date | Dec. 31, 2022 |
Expired in Prior 12 Months [Domain] | |
Operating Loss Carryforwards [Line Items] | |
State net operating loss carryforwards | $ 73 |
Income Taxes Schedule of Penalt
Income Taxes Schedule of Penalties and Interest (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Income Tax Disclosure [Abstract] | |||
Material income tax interest and penalties recognized | $ 0 | $ 0 | $ 0 |
Stock Compensation Plans Restri
Stock Compensation Plans Restricted Stock Unit Activity (Details) - Restricted stock units (RSUs) [Member] - Common stock [Member] - $ / shares | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | |||
Stock compensation plan, restricted stock, outstanding beginning of period (number of shares) | 354,350 | 339,300 | 307,268 |
Stock compensation plan, restricted stock, grants in period (number of shares) | 154,000 | 136,500 | 138,500 |
Stock compensation plan, restricted stock, vested in period (number of shares) | (127,750) | (121,450) | (106,468) |
Stock compensation plan, restricted stock, forfeited in period (number of shares) | 0 | 0 | 0 |
Stock compensation plan, restricted stock, outstanding end of period (number of shares) | 380,600 | 354,350 | 339,300 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract] | |||
Stock compensation plan, restricted stock, outstanding beginning of period, weighted average grant date fair value ($ per share) | $ 22.13 | $ 19.55 | $ 17.46 |
Stock compensation plan, restricted stock, grants in period, weighted average grant date fair value ($ per share) | 20 | 25.81 | 22.06 |
Stock compensation plan, restricted stock, vested in period, weighted average grant date fair value ($ per share) | 21.38 | 19.05 | 16.79 |
Stock compensation plan, restricted stock, forfeitures, weighted average grant date fair value ($ per share) | 0 | 0 | 0 |
Stock compensation plan, restricted stock, outstanding end of period, weighted average grand date fair value ($ per share) | $ 21.52 | $ 22.13 | $ 19.55 |
Stock Compensation Plans Narrat
Stock Compensation Plans Narratives (Details) - Common stock [Member] - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Restricted stock units (RSUs) [Member] | |||
Stock compensation plan [Line Items] | |||
Restricted stock unit employee expense | $ 0 | ||
Shares of common stock per restricted stock unit | 1 | ||
Stock compensation plan, restricted stock, vested in period, fair value | $ 2,540 | $ 3,144 | $ 2,371 |
Stock compensation expense | 2,993 | 2,741 | 2,632 |
Stock compensation plan, tax benefit from compensation expense | 15 | $ 261 | $ 285 |
Stock compensation plan, restricted stock, nonvested awards, compensation not yet recognized | $ 3,947 | ||
Stock compensation plan, restricted stock, outstanding, weighted average remaining contractual terms | 1 year 6 months | ||
West Bancorporation, Inc. 2017 Equity Incentive Plan [Member] | |||
Stock compensation plan [Line Items] | |||
Stock compensation plan, restricted stock, number of shares authorized | 800,000 | ||
Stock compensation plan, restricted stock, number of shares available for grant | 485,500 |
Employee Savings and Stock Ow_2
Employee Savings and Stock Ownership Plan (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Defined Contribution Plan Disclosure [Line Items] | |||
Defined contribution plan, employer discretionary contribution percent | 4.00% | 4.00% | 4.00% |
Expense, defined contribution plan, employer contributions | $ 1,107 | $ 1,040 | $ 961 |
Shares held in employee stock ownership plan, allocated | 328,881 | 306,678 | |
One Hundred Percent Matching Percentage [Member] | |||
Defined Contribution Plan Disclosure [Line Items] | |||
Defined contribution plan, employer matching contribution, percent | 6.00% | 6.00% | 6.00% |
Changes in Accumulated Other Co
Changes in Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Accumulated other comprehensive income (loss), balance beg of period | $ (6,814) | ||
Other comprehensive income (loss), net of tax | 3,553 | $ (4,552) | $ (850) |
Accumulated other comprehensive income (loss), balance end of period | (3,261) | (6,814) | |
Accumulated Other Comprehensive Income (Loss) [Member] | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Accumulated other comprehensive income (loss), balance beg of period | (6,814) | (1,892) | (1,042) |
Other comprehensive income (loss), transfers from held-to-maturity to available-for-sale securities, net of tax | 273 | ||
Other comprehensive income (loss), before reclassifications, net of tax | 3,598 | (5,072) | (738) |
Amounts reclassified from accumulated other comprehensive income, current period, net of tax | (45) | 247 | (112) |
Other comprehensive income (loss), net of tax | 3,553 | (4,552) | (850) |
Other comprehensive income (loss), reclassification of stranded tax effects | (370) | ||
Accumulated other comprehensive income (loss), balance end of period | (3,261) | (6,814) | (1,892) |
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member] | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Accumulated other comprehensive income (loss), balance beg of period | (8,123) | (2,237) | (1,172) |
Other comprehensive income (loss), transfers from held-to-maturity to available-for-sale securities, net of tax | 273 | ||
Other comprehensive income (loss), before reclassifications, net of tax | 9,115 | (5,856) | (697) |
Amounts reclassified from accumulated other comprehensive income, current period, net of tax | 65 | 172 | (368) |
Other comprehensive income (loss), net of tax | 9,180 | (5,411) | (1,065) |
Other comprehensive income (loss), reclassification of stranded tax effects | (475) | ||
Accumulated other comprehensive income (loss), balance end of period | 1,057 | (8,123) | (2,237) |
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Accumulated other comprehensive income (loss), balance beg of period | 1,309 | 345 | 130 |
Other comprehensive income (loss), transfers from held-to-maturity to available-for-sale securities, net of tax | 0 | ||
Other comprehensive income (loss), before reclassifications, net of tax | (5,517) | 784 | (41) |
Amounts reclassified from accumulated other comprehensive income, current period, net of tax | (110) | 75 | 256 |
Other comprehensive income (loss), net of tax | (5,627) | 859 | 215 |
Other comprehensive income (loss), reclassification of stranded tax effects | 105 | ||
Accumulated other comprehensive income (loss), balance end of period | $ (4,318) | $ 1,309 | $ 345 |
Regulatory Capital Requiremen_3
Regulatory Capital Requirements (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Capital | $ 252,316 | $ 234,526 |
Capital to risk weighted assets | 11.40% | 11.50% |
Capital required for capital adequacy | $ 177,013 | $ 163,213 |
Capital required for capital adequacy to risk-weighted assets | 8.00% | 8.00% |
Capital required for capital adequacy with capital conservation buffer | $ 232,330 | $ 201,466 |
Capital required for capital adequacy with capital conservation buffer to risk-weighted assets | 10.50% | 9.875% |
Tier one risk based capital | $ 235,081 | $ 217,837 |
Tier one risk based capital to risk-weighted assets | 10.62% | 10.68% |
Tier one risk based capital required for capital adequacy | $ 132,760 | $ 122,410 |
Tier one risk based capital required for capital adequacy to risk-weighted assets | 6.00% | 6.00% |
Tier one risk based capital required for capital adequacy with capital conservation buffer | $ 188,077 | $ 160,663 |
Tier one risk based capital required for capital adequacy with capital conservation buffer to risk-weighted assets | 8.50% | 7.875% |
Common equity tier one capital | $ 215,081 | $ 197,837 |
Common equity tier one capital to risk-weighted assets | 9.72% | 9.70% |
Common equity tier one capital required for capital adequacy | $ 99,570 | $ 91,807 |
Common equity tier one capital required for capital adequacy to risk-weighted assets | 4.50% | 4.50% |
Common equity tier one capital required for capital adequacy with capital conservation buffer | $ 154,887 | $ 130,060 |
Common equity tier one capital required for capital adequacy with capital conservation buffer to risk-weighted assets | 7.00% | 6.375% |
Tier one leverage capital | $ 235,081 | $ 217,837 |
Tier one leverage capital to average assets | 9.53% | 9.74% |
Tier one leverage capital required for capital adequacy | $ 98,693 | $ 89,485 |
Tier one leverage capital required for capital adequacy to average assets | 4.00% | 4.00% |
Tier one leverage capital required for capital adequacy with capital conservation buffer | $ 98,693 | $ 89,485 |
Tier one leverage capital required for capital adequacy with capital conservation buffer to average assets | 4.00% | 4.00% |
Tangible capital to tangible assets | 8.56% | 8.32% |
Intangible assets | $ 0 | $ 0 |
Preferred stock, shares outstanding | 0 | 0 |
West Bank [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Capital | $ 259,644 | $ 245,962 |
Capital to risk weighted assets | 11.74% | 12.07% |
Capital required for capital adequacy | $ 176,970 | $ 163,076 |
Capital required for capital adequacy to risk-weighted assets | 8.00% | 8.00% |
Capital required for capital adequacy with capital conservation buffer | $ 232,273 | $ 201,297 |
Capital required for capital adequacy with capital conservation buffer to risk-weighted assets | 10.50% | 9.875% |
Capital required to be well-capitalized | $ 221,212 | $ 203,845 |
Capital required to be well-capitalized to risk-weighted assets | 10.00% | 10.00% |
Tier one risk based capital | $ 242,409 | $ 229,273 |
Tier one risk based capital to risk-weighted assets | 10.96% | 11.25% |
Tier one risk based capital required for capital adequacy | $ 132,727 | $ 122,307 |
Tier one risk based capital required for capital adequacy to risk-weighted assets | 6.00% | 6.00% |
Tier one risk based capital required for capital adequacy with capital conservation buffer | $ 188,030 | $ 160,528 |
Tier one risk based capital required for capital adequacy with capital conservation buffer to risk-weighted assets | 8.50% | 7.875% |
Tier one risk based capital required to be well-capitalized | $ 176,970 | $ 163,076 |
Tier one risk based capital required to be well-capitalized to risk-weighted assets | 8.00% | 8.00% |
Common equity tier one capital | $ 242,409 | $ 229,273 |
Common equity tier one capital to risk-weighted assets | 10.96% | 11.25% |
Common equity tier one capital required for capital adequacy | $ 99,546 | $ 91,730 |
Common equity tier one capital required for capital adequacy to risk-weighted assets | 4.50% | 4.50% |
Common equity tier one capital required for capital adequacy with capital conservation buffer | $ 154,849 | $ 129,951 |
Common equity tier one capital required for capital adequacy with capital conservation buffer to risk-weighted assets | 7.00% | 6.375% |
Common equity tier one capital required to be well-capitalized | $ 143,788 | $ 132,499 |
Common equity tier one capital required to be well-capitalized to risk-weighted assets | 6.50% | 6.50% |
Tier one leverage capital | $ 242,409 | $ 229,273 |
Tier one leverage capital to average assets | 9.83% | 10.26% |
Tier one leverage capital required for capital adequacy | $ 98,656 | $ 89,410 |
Tier one leverage capital required for capital adequacy to average assets | 4.00% | 4.00% |
Tier one leverage capital required for capital adequacy with capital conservation buffer | $ 98,656 | $ 89,410 |
Tier one leverage capital required for capital adequacy with capital conservation buffer to average assets | 4.00% | 4.00% |
Tier one leverage capital required to be well-capitalized | $ 123,320 | $ 111,762 |
Tier one leverage capital required to be well-capitalized to average assets | 5.00% | 5.00% |
Commitments and Contingencies R
Commitments and Contingencies Required Reserve Balances (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Subsidiaries [Member] | ||
Restricted Cash and Cash Equivalents Items [Line Items] | ||
Required cash reserve balances, Federal Reserve Bank | $ 4,836 | $ 4,527 |
Commitments and Contingencies C
Commitments and Contingencies Commitments (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Loan commitments | $ 680,146 | $ 648,212 |
Commitments to extend credit [Member] | ||
Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Loan commitments | 672,117 | 641,581 |
Standby letters of credit [Member] | ||
Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Loan commitments | 8,029 | $ 6,631 |
Commitments to extend credit, expiration after one year [Member] | Commitments to extend credit [Member] | ||
Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Loan commitments | $ 87,715 |
Commitments and Contingencies O
Commitments and Contingencies Other Narratives (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Loss Contingencies [Line Items] | ||
FHLB MPF program remaining outstanding balance of loans sold | $ 63,409 | $ 78,024 |
Standby letters of credit [Member] | ||
Loss Contingencies [Line Items] | ||
Guarantor obligations, current carrying value | $ 0 | $ 0 |
Commitments and Contingencies_3
Commitments and Contingencies Contractual commitments (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Affordable Housing Project Investment [Member] | ||
Long-term Purchase Commitment [Line Items] | ||
Contractual obligation | $ 2,042 | $ 4,421 |
Fair Value Measurements Recurri
Fair Value Measurements Recurring Basis by Level (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Investment securities available for sale | $ 398,578 | $ 453,758 |
Fair value, inputs, level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Investment securities available for sale | 398,578 | 453,758 |
Interest rate swaps, derivative asset | 403 | 1,863 |
Interest rate swaps, derivative liability | 6,129 | 0 |
Fair value, measurements, recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Interest rate swaps, derivative asset | 403 | 1,863 |
Interest rate swaps, derivative liability | 6,129 | |
Fair value, measurements, recurring [Member] | Fair value, inputs, level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Interest rate swaps, derivative asset | 0 | 0 |
Interest rate swaps, derivative liability | 0 | |
Fair value, measurements, recurring [Member] | Fair value, inputs, level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Interest rate swaps, derivative asset | 403 | 1,863 |
Interest rate swaps, derivative liability | 6,129 | |
Fair value, measurements, recurring [Member] | Fair value, inputs, level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Interest rate swaps, derivative asset | 0 | 0 |
Interest rate swaps, derivative liability | 0 | |
State and political subdivisions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Investment securities available for sale | 47,178 | 149,156 |
State and political subdivisions [Member] | Fair value, measurements, recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Investment securities available for sale | 47,178 | 149,156 |
State and political subdivisions [Member] | Fair value, measurements, recurring [Member] | Fair value, inputs, level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Investment securities available for sale | 0 | 0 |
State and political subdivisions [Member] | Fair value, measurements, recurring [Member] | Fair value, inputs, level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Investment securities available for sale | 47,178 | 149,156 |
State and political subdivisions [Member] | Fair value, measurements, recurring [Member] | Fair value, inputs, level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Investment securities available for sale | 0 | 0 |
Collateralized mortgage obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Investment securities available for sale | 181,921 | 157,004 |
Collateralized mortgage obligations [Member] | Fair value, measurements, recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Investment securities available for sale | 181,921 | 157,004 |
Collateralized mortgage obligations [Member] | Fair value, measurements, recurring [Member] | Fair value, inputs, level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Investment securities available for sale | 0 | 0 |
Collateralized mortgage obligations [Member] | Fair value, measurements, recurring [Member] | Fair value, inputs, level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Investment securities available for sale | 181,921 | 157,004 |
Collateralized mortgage obligations [Member] | Fair value, measurements, recurring [Member] | Fair value, inputs, level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Investment securities available for sale | 0 | 0 |
Mortgage-backed securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Investment securities available for sale | 73,030 | 63,378 |
Mortgage-backed securities [Member] | Fair value, measurements, recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Investment securities available for sale | 73,030 | 63,378 |
Mortgage-backed securities [Member] | Fair value, measurements, recurring [Member] | Fair value, inputs, level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Investment securities available for sale | 0 | 0 |
Mortgage-backed securities [Member] | Fair value, measurements, recurring [Member] | Fair value, inputs, level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Investment securities available for sale | 73,030 | 63,378 |
Mortgage-backed securities [Member] | Fair value, measurements, recurring [Member] | Fair value, inputs, level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Investment securities available for sale | 0 | 0 |
Asset-backed securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Investment securities available for sale | 17,600 | 31,903 |
Asset-backed securities [Member] | Fair value, measurements, recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Investment securities available for sale | 17,600 | 31,903 |
Asset-backed securities [Member] | Fair value, measurements, recurring [Member] | Fair value, inputs, level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Investment securities available for sale | 0 | 0 |
Asset-backed securities [Member] | Fair value, measurements, recurring [Member] | Fair value, inputs, level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Investment securities available for sale | 17,600 | 31,903 |
Asset-backed securities [Member] | Fair value, measurements, recurring [Member] | Fair value, inputs, level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Investment securities available for sale | 0 | 0 |
Trust preferred security [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Investment securities available for sale | 1,900 | |
Trust preferred security [Member] | Fair value, measurements, recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Investment securities available for sale | 1,900 | |
Trust preferred security [Member] | Fair value, measurements, recurring [Member] | Fair value, inputs, level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Investment securities available for sale | 0 | |
Trust preferred security [Member] | Fair value, measurements, recurring [Member] | Fair value, inputs, level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Investment securities available for sale | 1,900 | |
Trust preferred security [Member] | Fair value, measurements, recurring [Member] | Fair value, inputs, level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Investment securities available for sale | 0 | |
Collateralized Loan Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Investment securities available for sale | 64,832 | |
Collateralized Loan Obligations [Member] | Fair value, measurements, recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Investment securities available for sale | 64,832 | |
Collateralized Loan Obligations [Member] | Fair value, measurements, recurring [Member] | Fair value, inputs, level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Investment securities available for sale | 0 | |
Collateralized Loan Obligations [Member] | Fair value, measurements, recurring [Member] | Fair value, inputs, level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Investment securities available for sale | 64,832 | |
Collateralized Loan Obligations [Member] | Fair value, measurements, recurring [Member] | Fair value, inputs, level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Investment securities available for sale | 0 | |
Corporate notes [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Investment securities available for sale | 14,017 | 50,417 |
Corporate notes [Member] | Fair value, measurements, recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Investment securities available for sale | 14,017 | 50,417 |
Corporate notes [Member] | Fair value, measurements, recurring [Member] | Fair value, inputs, level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Investment securities available for sale | 0 | 0 |
Corporate notes [Member] | Fair value, measurements, recurring [Member] | Fair value, inputs, level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Investment securities available for sale | 14,017 | 50,417 |
Corporate notes [Member] | Fair value, measurements, recurring [Member] | Fair value, inputs, level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Investment securities available for sale | $ 0 | $ 0 |
Fair Value Measurements Nonrecu
Fair Value Measurements Nonrecurring Basis by Level (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Fair Value, measurements, nonrecurring [Member] | Fair value, inputs, level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items] | ||
Collateral dependent impaired loans | $ 0 | $ 0 |
Fair Value Measurements Carryin
Fair Value Measurements Carrying Amounts and Fair Values (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and due from banks | $ 37,808 | $ 46,369 |
Federal funds sold | 15,482 | 1,105 |
Investment securities available for sale | 398,578 | 453,758 |
Federal Home Loan Bank stock | 12,491 | 12,037 |
Loans, net | 1,924,428 | 1,705,141 |
Accrued interest receivable | 7,134 | 7,631 |
Deposits | 2,014,756 | 1,894,529 |
Federal funds purchased | 2,660 | 19,985 |
Federal Home Loan Bank advances, net of discount | 179,365 | 137,878 |
Long-term debt | 22,925 | 27,040 |
Fair value, inputs, level 1 [Member] | Reported Value Measurement [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and due from banks | 37,808 | 46,369 |
Federal funds sold | 15,482 | 1,105 |
Federal Home Loan Bank stock | 12,491 | 12,037 |
Accrued interest receivable | 7,134 | 7,631 |
Federal funds purchased | 2,660 | 19,985 |
Accrued interest payable | 2,070 | 1,317 |
Fair value, inputs, level 1 [Member] | Estimate of fair value, fair value disclosure [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and due from banks | 37,808 | 46,369 |
Federal funds sold | 15,482 | 1,105 |
Federal Home Loan Bank stock | 12,491 | 12,037 |
Accrued interest receivable | 7,134 | 7,631 |
Federal funds purchased | 2,660 | 19,985 |
Accrued interest payable | 2,070 | 1,317 |
Fair value, inputs, level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment securities available for sale | 398,578 | 453,758 |
Interest rate swaps, derivative asset | 403 | 1,863 |
Interest rate swaps, derivative liability | 6,129 | 0 |
Fair value, inputs, level 2 [Member] | Reported Value Measurement [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment securities available for sale | 398,578 | 453,758 |
Loans, net | 1,924,428 | 1,705,141 |
Interest rate swaps, derivative asset | 403 | 1,863 |
Deposits | 2,014,756 | 1,894,529 |
Subordinated notes, net | 20,438 | 20,425 |
Federal Home Loan Bank advances, net of discount | 179,365 | 137,878 |
Long-term debt | 22,925 | 27,040 |
Interest rate swaps, derivative liability | 6,129 | 0 |
Fair value, inputs, level 2 [Member] | Estimate of fair value, fair value disclosure [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans, net | 1,941,208 | 1,688,700 |
Deposits | 2,015,427 | 1,893,621 |
Subordinated notes, net | 18,568 | 15,498 |
Federal Home Loan Bank advances, net of discount | 179,365 | 137,878 |
Long-term debt | 22,910 | 27,000 |
Standby letters of credit [Member] | Fair value, inputs, level 3 [Member] | Reported Value Measurement [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Standby letters of credit | 0 | 0 |
Standby letters of credit [Member] | Fair value, inputs, level 3 [Member] | Estimate of fair value, fair value disclosure [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Standby letters of credit | 0 | 0 |
Commitments to extend credit [Member] | Fair value, inputs, level 3 [Member] | Reported Value Measurement [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Standby letters of credit | 0 | 0 |
Commitments to extend credit [Member] | Fair value, inputs, level 3 [Member] | Estimate of fair value, fair value disclosure [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Standby letters of credit | $ 0 | $ 0 |
Fair Value Measurements Narrati
Fair Value Measurements Narratives (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Fair value, measurements, recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Transfers between levels, fair value disclosure | $ 0 | $ 0 |
Condensed Balance Sheets - Pare
Condensed Balance Sheets - Parent Company Only (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
ASSETS | ||||
Other assets | $ 7,836 | $ 8,269 | ||
Total assets | 2,473,691 | 2,296,568 | ||
LIABILITIES | ||||
Accrued expenses and other liabilities | 21,727 | 5,688 | ||
Long-term debt | 22,925 | 27,040 | ||
Total liabilities | 2,261,871 | 2,105,545 | ||
STOCKHOLDERS’ EQUITY | ||||
Preferred stock | 0 | 0 | ||
Common stock | 3,000 | 3,000 | ||
Additional paid-in capital | 27,260 | 25,128 | ||
Retained earnings | 184,821 | 169,709 | ||
Accumulated other comprehensive income (loss) | (3,261) | (6,814) | ||
Total stockholders’ equity | 211,820 | 191,023 | $ 178,098 | $ 165,376 |
Total liabilities and stockholders’ equity | 2,473,691 | 2,296,568 | ||
Parent Company [Member] | ||||
ASSETS | ||||
Cash | 4,122 | 3,951 | $ 3,226 | $ 3,945 |
Investment in West Bank | 239,147 | 221,559 | ||
Investment in West Bancorporation Capital Trust I | 619 | 619 | ||
Other assets | 6 | 1,232 | ||
Total assets | 243,894 | 227,361 | ||
LIABILITIES | ||||
Accrued expenses and other liabilities | 386 | 663 | ||
Subordinated notes, net | 20,438 | 20,425 | ||
Long-term debt | 11,250 | 15,250 | ||
Total liabilities | 32,074 | 36,338 | ||
STOCKHOLDERS’ EQUITY | ||||
Preferred stock | 0 | 0 | ||
Common stock | 3,000 | 3,000 | ||
Additional paid-in capital | 27,260 | 25,128 | ||
Retained earnings | 184,821 | 169,709 | ||
Accumulated other comprehensive income (loss) | (3,261) | (6,814) | ||
Total stockholders’ equity | 211,820 | 191,023 | ||
Total liabilities and stockholders’ equity | $ 243,894 | $ 227,361 |
Condensed Statements of Income-
Condensed Statements of Income- Parent Company Only (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Operating Expenses [Abstract] | |||||||||||
Interest on subordinated notes | $ 1,023 | $ 1,076 | $ 901 | ||||||||
Interest on long-term debt | 637 | 757 | 519 | ||||||||
Occupancy | 5,355 | 4,996 | 4,406 | ||||||||
Income tax benefits | $ 1,946 | $ 1,912 | $ 1,629 | $ 1,565 | $ 945 | $ 2,507 | $ 1,600 | $ 1,508 | 7,052 | 6,560 | 13,368 |
Net income | $ 7,607 | $ 7,526 | $ 6,658 | $ 6,899 | $ 7,227 | $ 7,133 | $ 6,764 | $ 7,384 | 28,690 | 28,508 | 23,070 |
Parent Company [Member] | |||||||||||
Operating Income | |||||||||||
Equity in net income of West Bank | 30,205 | 30,282 | 23,933 | ||||||||
Equity in net income of West Bancorporation Capital Trust I | 35 | 33 | 27 | ||||||||
Intercompany rental income | 0 | 0 | 333 | ||||||||
Other rental income | 0 | 0 | 21 | ||||||||
Total operating income | 30,240 | 30,315 | 24,314 | ||||||||
Operating Expenses [Abstract] | |||||||||||
Interest on subordinated notes | 1,022 | 1,076 | 901 | ||||||||
Interest on long-term debt | 519 | 750 | 517 | ||||||||
Occupancy | 0 | 0 | 187 | ||||||||
Other expenses | 498 | 530 | 602 | ||||||||
Total operating expenses | 2,039 | 2,356 | 2,207 | ||||||||
Income before income taxes | 28,201 | 27,959 | 22,107 | ||||||||
Income tax benefits | (489) | (549) | (963) | ||||||||
Net income | $ 28,690 | $ 28,508 | $ 23,070 |
Condensed Statements of Cash Fl
Condensed Statements of Cash Flows - Parent Company Only (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Cash Flows from Operating Activities: | |||||||||||
Net income | $ 7,607 | $ 7,526 | $ 6,658 | $ 6,899 | $ 7,227 | $ 7,133 | $ 6,764 | $ 7,384 | $ 28,690 | $ 28,508 | $ 23,070 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
Depreciation | 1,429 | 1,408 | 1,347 | ||||||||
Deferred income tax (benefits) | (33) | (359) | 2,833 | ||||||||
Change in assets and liabilities: | |||||||||||
(Increase) decrease in other assets | (1,029) | (2,490) | 131 | ||||||||
Increase (decrease) in accrued expenses and other liabilities | 1,044 | 563 | (1,503) | ||||||||
Net Cash Provided by (Used in) Operating Activities | 36,967 | 34,744 | 29,357 | ||||||||
Cash Flows from Investing Activities: | |||||||||||
Purchases of premises | (1,048) | (210) | (1,055) | ||||||||
Net Cash Provided by (Used in) Investing Activities | (155,499) | (188,726) | (293,965) | ||||||||
Proceeds from long-term debt | 0 | 11,486 | 22,000 | ||||||||
Cash Flows from Financing Activities: | |||||||||||
Principal payments on long-term debt | (4,115) | (7,363) | (4,212) | ||||||||
Common stock cash dividends | (13,578) | (12,696) | (11,499) | ||||||||
Net Cash Provided by (Used in) Financing Activities | 124,348 | 153,507 | 235,721 | ||||||||
Parent Company [Member] | |||||||||||
Cash Flows from Operating Activities: | |||||||||||
Net income | 28,690 | 28,508 | 23,070 | ||||||||
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
Equity in net income of West Bank | (30,205) | (30,282) | (23,933) | ||||||||
Equity in net income of West Bancorporation Capital Trust I | (35) | (33) | (27) | ||||||||
Dividends received from West Bank | 19,200 | 22,300 | 16,800 | ||||||||
Dividends received from West Bancorporation Capital Trust I | 35 | 33 | 27 | ||||||||
Amortization | 13 | 13 | 17 | ||||||||
Depreciation | 0 | 0 | 178 | ||||||||
Deferred income tax (benefits) | 43 | 0 | (240) | ||||||||
Change in assets and liabilities: | |||||||||||
(Increase) decrease in other assets | 28 | 107 | 50 | ||||||||
Increase (decrease) in accrued expenses and other liabilities | (20) | 25 | (549) | ||||||||
Net Cash Provided by (Used in) Operating Activities | 17,749 | 20,671 | 15,393 | ||||||||
Cash Flows from Investing Activities: | |||||||||||
Proceeds from sales of premises | 0 | 0 | 18,032 | ||||||||
Purchases of premises | 0 | 0 | (16) | ||||||||
Capital contribution to West Bank | 0 | 0 | (40,000) | ||||||||
Net Cash Provided by (Used in) Investing Activities | 0 | 0 | (21,984) | ||||||||
Proceeds from long-term debt | 0 | 0 | 22,000 | ||||||||
Cash Flows from Financing Activities: | |||||||||||
Principal payments on long-term debt | (4,000) | (7,250) | (4,629) | ||||||||
Common stock cash dividends | (13,578) | (12,696) | (11,499) | ||||||||
Net Cash Provided by (Used in) Financing Activities | (17,578) | (19,946) | 5,872 | ||||||||
Net increase (decrease) in cash | 171 | 725 | (719) | ||||||||
Cash: | |||||||||||
Beginning | $ 3,951 | $ 3,226 | 3,951 | 3,226 | 3,945 | ||||||
Ending | $ 4,122 | $ 3,951 | $ 4,122 | $ 3,951 | $ 3,226 |
Selected Quarterly Financial _3
Selected Quarterly Financial Data (unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Selected Quarterly Financial Information [Abstract] | |||||||||||
Interest income | $ 25,077 | $ 25,612 | $ 24,335 | $ 23,651 | $ 22,606 | $ 21,920 | $ 20,537 | $ 19,730 | $ 98,675 | $ 84,793 | $ 73,034 |
Interest expense | 7,690 | 8,496 | 8,297 | 7,762 | 6,950 | 6,233 | 5,238 | 4,314 | 32,245 | 22,735 | 12,977 |
Net interest income | 17,387 | 17,116 | 16,038 | 15,889 | 15,656 | 15,687 | 15,299 | 15,416 | 66,430 | 62,058 | 60,057 |
Provision for loan losses | 300 | 300 | 0 | 0 | 0 | (400) | 0 | 150 | 600 | (250) | 0 |
Net interest income after provision for loan losses | 17,087 | 16,816 | 16,038 | 15,889 | 15,656 | 16,087 | 15,299 | 15,266 | 65,830 | 62,308 | 60,057 |
Noninterest income | 2,042 | 2,158 | 1,999 | 2,119 | 1,702 | 2,114 | 2,023 | 1,913 | 8,318 | 7,752 | 8,648 |
Noninterest expense | 9,576 | 9,536 | 9,750 | 9,544 | 9,186 | 8,561 | 8,958 | 8,287 | 38,406 | 34,992 | 32,267 |
Income before income taxes | 9,553 | 9,438 | 8,287 | 8,464 | 8,172 | 9,640 | 8,364 | 8,892 | 35,742 | 35,068 | 36,438 |
Income taxes | 1,946 | 1,912 | 1,629 | 1,565 | 945 | 2,507 | 1,600 | 1,508 | 7,052 | 6,560 | 13,368 |
Net income | $ 7,607 | $ 7,526 | $ 6,658 | $ 6,899 | $ 7,227 | $ 7,133 | $ 6,764 | $ 7,384 | $ 28,690 | $ 28,508 | $ 23,070 |
Basic earnings per common share | $ 0.46 | $ 0.46 | $ 0.41 | $ 0.42 | $ 0.44 | $ 0.44 | $ 0.42 | $ 0.46 | $ 1.75 | $ 1.75 | $ 1.42 |
Diluted earnings per common share | $ 0.46 | $ 0.46 | $ 0.41 | $ 0.42 | $ 0.44 | $ 0.43 | $ 0.41 | $ 0.45 | $ 1.74 | $ 1.74 | $ 1.41 |