Document and Entity Information
Document and Entity Information - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Feb. 29, 2020 | Jun. 30, 2019 | |
Document Information [Line Items] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Dec. 31, 2019 | ||
Document Fiscal Year Focus | 2019 | ||
Document Fiscal Period Focus | FY | ||
Trading Symbol | EQBK | ||
Entity Registrant Name | EQUITY BANCSHARES INC | ||
Entity Central Index Key | 0001227500 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Filer Category | Accelerated Filer | ||
Entity Small Business | false | ||
Entity Emerging Growth Company | true | ||
Entity Ex Transition Period | true | ||
Entity Shell Company | false | ||
Entity Public Float | $ 391.5 | ||
Entity File Number | 001-37624 | ||
Entity Incorporation, State or Country Code | KS | ||
Entity Tax Identification Number | 72-1532188 | ||
Title of 12(b) Security | Class A Common Stock, par value $0.01 per share | ||
Security Exchange Name | NASDAQ | ||
Entity Interactive Data Current | Yes | ||
Entity Address, Address Line One | 7701 East Kellogg Drive | ||
Entity Address, Address Line Two | Suite 300 | ||
Entity Address, City or Town | Wichita | ||
Entity Address, State or Province | KS | ||
Entity Address, Postal Zip Code | 67207 | ||
City Area Code | 316 | ||
Local Phone Number | 612.6000 | ||
Document Annual Report | true | ||
Document Transition Report | false | ||
Documents Incorporated by Reference | Portions of the registrant’s Proxy Statement relating to the 2020 Annual Meeting of Stockholders, which will be filed within 120 days after December 31, 2019, are incorporated by reference into Part III of this Annual Report on Form 10-K. | ||
Class A Common Stock [Member] | |||
Document Information [Line Items] | |||
Entity Common Stock, Shares Outstanding | 15,413,630 | ||
Class B Non-Voting Common Stock [Member] | |||
Document Information [Line Items] | |||
Entity Common Stock, Shares Outstanding | 0 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
ASSETS | ||
Cash and due from banks | $ 88,973 | $ 192,735 |
Federal funds sold | 318 | 83 |
Cash and cash equivalents | 89,291 | 192,818 |
Interest-bearing time deposits in other banks | 2,498 | 4,991 |
Available-for-sale securities | 142,067 | 168,875 |
Held-to-maturity securities, fair value of $783,911 and $739,989 | 769,059 | 748,356 |
Loans held for sale | 5,933 | 2,972 |
Loans, net of allowance for loan losses of $12,232 and $11,454 | 2,544,420 | 2,563,954 |
Other real estate owned, net | 8,293 | 6,372 |
Premises and equipment, net | 84,478 | 80,442 |
Bank-owned life insurance | 75,103 | 73,105 |
Federal Reserve Bank and Federal Home Loan Bank stock | 31,137 | 29,214 |
Interest receivable | 15,738 | 17,372 |
Goodwill | 136,432 | 131,712 |
Core deposit intangibles, net | 19,907 | 21,725 |
Other | 25,222 | 19,808 |
Total assets | 3,949,578 | 4,061,716 |
Deposits | ||
Demand | 481,298 | 503,831 |
Total non-interest-bearing deposits | 481,298 | 503,831 |
Savings, NOW and money market | 1,749,048 | 1,611,710 |
Time | 833,170 | 1,007,906 |
Total interest-bearing deposits | 2,582,218 | 2,619,616 |
Total deposits | 3,063,516 | 3,123,447 |
Federal funds purchased and retail repurchase agreements | 35,708 | 50,068 |
Federal Home Loan Bank advances | 324,373 | 384,898 |
Bank stock loan | 8,990 | 15,450 |
Subordinated debentures | 14,561 | 14,260 |
Contractual obligations | 5,836 | 3,965 |
Interest payable and other liabilities | 18,534 | 13,687 |
Total liabilities | 3,471,518 | 3,605,775 |
Commitments and contingent liabilities | ||
Stockholders' equity | ||
Common stock | 174 | 173 |
Additional paid-in capital | 382,731 | 379,085 |
Retained earnings | 125,757 | 101,326 |
Accumulated other comprehensive loss | (3) | (4,867) |
Employee stock loans | (77) | (121) |
Treasury stock | (30,522) | (19,655) |
Total stockholders’ equity | 478,060 | 455,941 |
Total liabilities and stockholders’ equity | $ 3,949,578 | $ 4,061,716 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Statement Of Financial Position [Abstract] | ||||
Held-to-maturity securities, fair value | $ 783,911 | $ 739,989 | ||
Loans, allowance for loan losses | $ 12,232 | $ 11,454 | $ 8,498 | $ 6,432 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Interest and dividend income | |||
Loans, including fees | $ 149,298 | $ 137,048 | $ 85,662 |
Securities, taxable | 19,339 | 17,943 | 12,308 |
Securities, nontaxable | 4,180 | 4,089 | 3,375 |
Federal funds sold and other | 2,682 | 2,476 | 1,348 |
Total interest and dividend income | 175,499 | 161,556 | 102,693 |
Interest expense | |||
Deposits | 40,914 | 25,687 | 12,722 |
Federal funds purchased and retail repurchase agreements | 155 | 114 | 64 |
Federal Home Loan Bank advances | 6,667 | 9,039 | 2,909 |
Bank stock loan | 654 | 731 | 16 |
Subordinated debentures | 1,251 | 1,187 | 980 |
Total interest expense | 49,641 | 36,758 | 16,691 |
Net interest income | 125,858 | 124,798 | 86,002 |
Provision for loan losses | 18,354 | 3,961 | 2,953 |
Net interest income after provision for loan losses | 107,504 | 120,837 | 83,049 |
Non-interest income | |||
Increase in value of bank-owned life insurance | 1,998 | 2,199 | 1,445 |
Net gain (loss) from securities transactions | 14 | (9) | 271 |
Other | 3,606 | 2,809 | 1,903 |
Total non-interest income | 24,988 | 19,725 | 15,440 |
Non-interest expense | |||
Salaries and employee benefits | 52,122 | 48,018 | 33,960 |
Net occupancy and equipment | 8,674 | 8,126 | 6,305 |
Data processing | 10,124 | 8,094 | 4,927 |
Professional fees | 4,734 | 3,402 | 2,363 |
Advertising and business development | 3,075 | 3,002 | 2,105 |
Telecommunications | 2,079 | 1,775 | 1,191 |
FDIC insurance | 1,228 | 1,536 | 945 |
Courier and postage | 1,348 | 1,183 | 935 |
Free nationwide ATM cost | 1,680 | 1,355 | 932 |
Amortization of core deposit intangibles | 3,168 | 2,443 | 1,025 |
Loan expense | 875 | 1,005 | 993 |
Other real estate owned | 707 | (71) | 523 |
Merger expenses | 915 | 7,462 | 5,352 |
Other | 8,906 | 7,057 | 5,907 |
Total non-interest expense | 99,635 | 94,387 | 67,463 |
Income before income tax | 32,857 | 46,175 | 31,026 |
Provision for income taxes | 7,278 | 10,350 | 10,377 |
Net income and net income allocable to common stockholders | $ 25,579 | $ 35,825 | $ 20,649 |
Basic earnings per share | $ 1.64 | $ 2.33 | $ 1.66 |
Diluted earnings per share | $ 1.61 | $ 2.28 | $ 1.62 |
Service Charges and Fees [Member] | |||
Non-interest income | |||
Non-interest income | $ 8,672 | $ 7,250 | $ 5,319 |
Debit Card Income [Member] | |||
Non-interest income | |||
Non-interest income | 8,230 | 6,178 | 4,547 |
Mortgage Banking [Member] | |||
Non-interest income | |||
Non-interest income | $ 2,468 | $ 1,298 | $ 1,955 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Statement Of Income And Comprehensive Income [Abstract] | |||
Net income | $ 25,579 | $ 35,825 | $ 20,649 |
Other comprehensive income: | |||
Unrealized holding gains (losses) arising during the period on available-for-sale securities | 5,613 | (2,845) | (26) |
Amortization of unrealized losses on held-to-maturity securities | 903 | 453 | 532 |
Reclassification adjustment for net gains included in net income | 0 | 0 | (271) |
Total other comprehensive income (loss) | 6,516 | (2,392) | 235 |
Tax effect | (1,652) | 606 | (90) |
Other comprehensive income (loss), net of tax | 4,864 | (1,786) | 145 |
Comprehensive income | $ 30,443 | $ 34,039 | $ 20,794 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands | Total | Kansas Bank Corporation [Member] | Adams Dairy Bancshares, Inc. [Member] | Prairie State Bancshares, Inc. [Member] | Eastman National Bancshares, Inc. [Member] | Cache Holdings, Inc. [Member] | Common Stock [Member] | Common Stock [Member]Kansas Bank Corporation [Member] | Common Stock [Member]Adams Dairy Bancshares, Inc. [Member] | Common Stock [Member]Prairie State Bancshares, Inc. [Member] | Common Stock [Member]Eastman National Bancshares, Inc. [Member] | Common Stock [Member]Cache Holdings, Inc. [Member] | Additional Paid-In Capital [Member] | Additional Paid-In Capital [Member]Kansas Bank Corporation [Member] | Additional Paid-In Capital [Member]Adams Dairy Bancshares, Inc. [Member] | Additional Paid-In Capital [Member]Prairie State Bancshares, Inc. [Member] | Additional Paid-In Capital [Member]Eastman National Bancshares, Inc. [Member] | Additional Paid-In Capital [Member]Cache Holdings, Inc. [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Treasury Stock [Member] | Employee Stock Loans [Member] |
Beginning balance at Dec. 31, 2016 | $ 257,964 | $ 132 | $ 236,103 | $ 44,328 | $ (2,702) | $ (19,655) | $ (242) | |||||||||||||||
Beginning balance, shares at Dec. 31, 2016 | 11,680,308 | |||||||||||||||||||||
Net income | 20,649 | 20,649 | ||||||||||||||||||||
Other comprehensive income, net of tax effects | 145 | 145 | ||||||||||||||||||||
Other comprehensive income, tax rate change impact | 535 | 535 | (535) | |||||||||||||||||||
Stock based compensation | 1,100 | 1,100 | ||||||||||||||||||||
Stock based compensation, shares | 3,712 | |||||||||||||||||||||
Common stock issued upon exercise of stock options | 1,215 | $ 1 | 1,214 | |||||||||||||||||||
Common stock issued upon exercise of stock options, shares | 71,434 | |||||||||||||||||||||
Repayments on employee stock loans | 121 | 121 | ||||||||||||||||||||
Issuance of common stock in connection with the acquisition, net of issuance expenses | $ 14,913 | $ 38,809 | $ 39,228 | $ 5 | $ 11 | $ 12 | $ 14,908 | $ 38,798 | $ 39,216 | |||||||||||||
Issuance of common stock in connection with the acquisition, net of issuance expenses, shares | 479,465 | 1,179,747 | 1,190,941 | |||||||||||||||||||
Ending balance at Dec. 31, 2017 | 374,144 | $ 161 | 331,339 | 65,512 | (3,092) | (19,655) | (121) | |||||||||||||||
Ending balance, shares at Dec. 31, 2017 | 14,605,607 | |||||||||||||||||||||
Net income | 35,825 | 35,825 | ||||||||||||||||||||
Other comprehensive income, net of tax effects | (1,786) | (1,786) | ||||||||||||||||||||
Stock based compensation | 2,509 | 2,509 | ||||||||||||||||||||
Stock based compensation, shares | 1,375 | |||||||||||||||||||||
Common stock issued upon exercise of stock options | 133 | 133 | ||||||||||||||||||||
Common stock issued upon exercise of stock options, shares | 21,201 | |||||||||||||||||||||
Adoption of ASU | ASU 2016-01 [Member] | (11) | 11 | ||||||||||||||||||||
Issuance of common stock in connection with the acquisition, net of issuance expenses | $ 31,896 | $ 13,220 | $ 8 | $ 4 | $ 31,888 | $ 13,216 | ||||||||||||||||
Issuance of common stock in connection with the acquisition, net of issuance expenses, shares | 820,849 | 344,063 | ||||||||||||||||||||
Ending balance at Dec. 31, 2018 | 455,941 | $ 173 | 379,085 | 101,326 | (4,867) | (19,655) | (121) | |||||||||||||||
Ending balance, shares at Dec. 31, 2018 | 15,793,095 | |||||||||||||||||||||
Net income | 25,579 | 25,579 | ||||||||||||||||||||
Other comprehensive income, net of tax effects | 4,864 | 4,864 | ||||||||||||||||||||
Stock based compensation | 2,870 | 2,870 | ||||||||||||||||||||
Stock based compensation, shares | 9,104 | |||||||||||||||||||||
Common stock issued upon exercise of stock options | 371 | 371 | ||||||||||||||||||||
Common stock issued upon exercise of stock options, shares | 20,402 | |||||||||||||||||||||
Repayments on employee stock loans | 44 | 44 | ||||||||||||||||||||
Common stock issued understock-based incentive plan | 1 | $ 1 | ||||||||||||||||||||
Common stock issued under stock-based incentive plan, shares | 23,628 | |||||||||||||||||||||
Common stock issued under employee stock purchase plan | 405 | 405 | ||||||||||||||||||||
Common stock issued under employee stock purchase plan, share | 19,221 | |||||||||||||||||||||
Treasury stock purchases | $ (10,867) | (10,867) | ||||||||||||||||||||
Treasury stock purchases, shares | (421,016) | (421,016) | ||||||||||||||||||||
Adoption of ASU | ASU 2017-08 [Member] | $ (1,148) | (1,148) | ||||||||||||||||||||
Ending balance at Dec. 31, 2019 | $ 478,060 | $ 174 | $ 382,731 | $ 125,757 | $ (3) | $ (30,522) | $ (77) | |||||||||||||||
Ending balance, shares at Dec. 31, 2019 | 15,444,434 |
Consolidated Statements of St_2
Consolidated Statements of Stockholders' Equity (Parenthetical) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Prairie State Bancshares, Inc. [Member] | ||
Issuance expense on issuance of common stock | $ 329 | |
Eastman National Bancshares, Inc. [Member] | ||
Issuance expense on issuance of common stock | 300 | |
Cache Holdings, Inc. [Member] | ||
Issuance expense on issuance of common stock | $ 252 | |
Kansas Bank Corporation [Member] | ||
Issuance expense on issuance of common stock | $ 207 | |
Adams Dairy Bancshares, Inc. [Member] | ||
Issuance expense on issuance of common stock | $ 236 |
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 | $ 25,579 | $ 35,825 | $ 20,649 |
Adjustments to reconcile net income to net cash from operating activities: | |||
Stock-based compensation | 2,870 | 2,509 | 1,100 |
Depreciation | 3,565 | 3,130 | 2,496 |
Amortization of operating lease right-of-use asset | 629 | ||
Amortization of cloud computing implementation costs | 100 | ||
Provision for loan losses | 18,354 | 3,961 | 2,953 |
Net amortization (accretion) of purchase valuation adjustments | (4,360) | (5,586) | (4,518) |
Amortization (accretion) of premiums and discounts on securities | 5,828 | 3,062 | 2,869 |
Amortization of intangible assets | 3,218 | 2,492 | 1,070 |
Deferred income taxes | 1,563 | 3,483 | 2,621 |
Federal Home Loan Bank stock dividends | (994) | (1,402) | (760) |
Loss (gain) on sales and valuation adjustments on other real estate owned | 68 | (580) | (109) |
Net loss (gain) on sales and settlements of securities | (1) | (271) | |
Change in unrealized (gains) losses on equity securities | (14) | 11 | |
Loss (gain) on disposal of premises and equipment | (19) | (182) | (5) |
Loss (gain) on lease termination | (7) | ||
Loss (gain) on sales of foreclosed assets | 25 | (17) | 32 |
Loss (gain) on sales of loans | (2,062) | (1,072) | (1,640) |
Originations of loans held for sale | (99,686) | (48,576) | (73,961) |
Proceeds from the sale of loans held for sale | 98,787 | 48,271 | 78,077 |
Increase in the value of bank-owned life insurance | (1,998) | (2,199) | (1,445) |
Change in fair value of derivatives recognized in earnings | 308 | 271 | (14) |
Payments on operating lease payable | (760) | ||
Net change in: | |||
Interest receivable | 1,649 | (2,255) | (1,276) |
Other assets | (3,823) | (5,738) | (673) |
Interest payable and other liabilities | (299) | 1,259 | 433 |
Net cash provided by operating activities | 48,521 | 36,666 | 27,628 |
Cash flows (to) from investing activities | |||
Purchases of available-for-sale securities | (36,007) | (105,749) | |
Purchases of held-to-maturity securities | (154,573) | (150,479) | (129,016) |
Proceeds from sales, calls, pay-downs and maturities of available-for- sale securities | 30,633 | 58,739 | 102,040 |
Proceeds from calls, pay-downs and maturities of held-to-maturity securities | 129,349 | 73,098 | 58,245 |
Net change in interest-bearing time deposits in other banks | 2,493 | 2,742 | 1,242 |
Net change in loans | 8,537 | (135,500) | (125,679) |
Capitalized construction cost of other real estate owned | (56) | ||
Purchase of premises and equipment | (6,948) | (8,831) | (6,873) |
Proceeds from sale of premises and equipment | 21 | 1,254 | 9 |
Proceeds from sale of foreclosed assets | 410 | 217 | 165 |
Net redemptions (purchases) of Federal Home Loan Bank and Federal Reserve Bank stock | (928) | (1,891) | (4,276) |
Proceeds from sale of other real estate owned | 1,803 | 4,730 | 5,461 |
Purchase of bank-owned life insurance | (15,000) | ||
Proceeds from bank-owned life insurance death benefits | 347 | ||
Net cash (used in) provided by investing activities | 96,101 | (171,488) | (222,924) |
Cash flows (to) from financing activities | |||
Net increase (decrease) in deposits | (158,652) | 228,924 | 123,224 |
Net change in federal funds purchased and retail repurchase agreements | (14,360) | 12,576 | 8,177 |
Net borrowings (repayments) on Federal Home Loan Bank line of credit | (57,547) | 20,078 | 79,996 |
Principal repayments on Federal Home Loan Bank term advances | (2,954) | (1,214) | (1,300) |
Borrowings on bank stock loan | 7,209 | 22,500 | 2,500 |
Principal repayments on bank stock loan | (13,669) | (9,550) | (1,000) |
Proceeds from exercise of employee stock options | 371 | 133 | 1,215 |
Principal payments on employee stock loan | 44 | 121 | |
Proceeds from employee stock purchase plan | 405 | ||
Purchase of treasury stock | (10,867) | ||
Net change in contractual obligations | 1,871 | 1,998 | (537) |
Net cash provided by (used in) financing activities | (248,149) | 275,445 | 212,396 |
Net change in cash and cash equivalents | (103,527) | 140,623 | 17,100 |
Cash and cash equivalents, beginning of period | 192,818 | 52,195 | 35,095 |
Ending cash and cash equivalents | 89,291 | 192,818 | 52,195 |
Supplemental cash flow information: | |||
Interest paid | 48,367 | 32,667 | 15,041 |
Income taxes paid, net of refunds | 3,108 | 9,214 | 6,438 |
Supplemental noncash disclosures: | |||
Other real estate owned acquired in settlement of loans | 3,737 | 2,307 | 4,562 |
Operating leases recognized | 4,814 | ||
Prairie State Bancshares, Inc. [Member] | |||
Cash flows (to) from investing activities | |||
Net cash (paid) received from acquisition | (6,744) | ||
Supplemental noncash disclosures: | |||
Total fair value of assets acquired, net of cash | 147,247 | ||
Total fair value of liabilities acquired | 125,591 | ||
Eastman National Bancshares, Inc. [Member] | |||
Cash flows (to) from investing activities | |||
Net cash (paid) received from acquisition | (55) | 6,108 | |
Supplemental noncash disclosures: | |||
Total fair value of assets acquired, net of cash | 267,094 | ||
Total fair value of liabilities acquired | 234,337 | ||
Cache Holdings, Inc. [Member] | |||
Cash flows (to) from investing activities | |||
Net cash (paid) received from acquisition | (2,857) | ||
Supplemental noncash disclosures: | |||
Total fair value of assets acquired, net of cash | 333,140 | ||
Total fair value of liabilities acquired | $ 291,056 | ||
Kansas Bank Corporation [Member] | |||
Cash flows (to) from investing activities | |||
Net cash (paid) received from acquisition | 12,774 | ||
Supplemental noncash disclosures: | |||
Total fair value of assets acquired, net of cash | 308,225 | ||
Total fair value of liabilities acquired | 289,103 | ||
Adams Dairy Bancshares, Inc. [Member] | |||
Cash flows (to) from investing activities | |||
Net cash (paid) received from acquisition | (1,385) | ||
Supplemental noncash disclosures: | |||
Total fair value of assets acquired, net of cash | 117,010 | ||
Total fair value of liabilities acquired | 102,406 | ||
City Bank and Trust Company [Member] | |||
Cash flows (to) from investing activities | |||
Net cash (paid) received from acquisition | 8,759 | ||
Supplemental noncash disclosures: | |||
Total fair value of assets acquired, net of cash | 135,594 | ||
Total fair value of liabilities acquired | $ 144,353 | ||
MidFirst Bank [Member] | |||
Cash flows (to) from investing activities | |||
Net cash (paid) received from acquisition | 85,360 | ||
Supplemental noncash disclosures: | |||
Total fair value of assets acquired, net of cash | 13,246 | ||
Total fair value of liabilities acquired | $ 98,606 |
NATURE OF OPERATIONS AND SUMMAR
NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 12 Months Ended |
Dec. 31, 2019 | |
Accounting Policies [Abstract] | |
NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 1 – NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Nature of Operations Equity Bank is a Kansas state-chartered bank and member of the Federal Reserve (state Fed member bank jointly supervised by both the Federal Reserve Bank of Kansas City and the Office of the Kansas State Bank Commissioner). The Company is primarily engaged in providing a full range of banking, mortgage banking and financial services to individual and corporate customers generally in Arkansas, Kansas, Missouri and Oklahoma. Equity Bank competes with a variety of other financial institutions including large regional banks, community banks and thrifts as well as credit unions and other non-traditional lenders. Use of Estimates Cash Equivalents Securities Interest income includes amortization of purchase premium or discount. Premiums and discounts on securities are amortized on the level-yield basis without anticipating prepayments, except for certain securities where prepayments are anticipated. Gains and losses on sales are recorded on the trade date and determined using the specific identification method. Management evaluates securities for other-than-temporary impairment (“OTTI”) on at least a quarterly basis, and more frequently when economic or market conditions warrant such an evaluation. For securities in an unrealized loss position, management considers the extent and duration of the unrealized loss and the financial condition and near-term prospects of the issuer. Management also assesses whether it intends to sell, or it is more likely than not that it will be required to sell, a security in an unrealized loss position before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the entire difference between amortized cost and fair value is recognized as impairment through earnings. For debt securities that do not meet the aforementioned criteria, the amount of impairment is split into two components as follows: 1) OTTI related to credit loss, which must be recognized in the income statement and 2) OTTI related to other factors, which is recognized in other comprehensive income. The credit loss is defined as the difference between the present value of the cash flows expected to be collected and the amortized cost basis. All OTTI related to equity securities is recognized through earnings. Equity investments with a readily determinable fair value are measured at fair value with changes in fair value recognized in net income. The exit price concept is used when measuring the fair value of financial instruments for disclosure purposes. Loans Held for Sale Loans Purchased Credit Impaired Loans. As a part of acquisitions, the Company acquired certain loans, for which there was, at acquisition, evidence of deterioration of credit quality since origination. These purchased credit impaired loans were recorded at the acquisition date fair value, such that there is no carryover of the seller’s allowance for loan losses. After acquisition, losses are recognized by an increase in the allowance for loan losses. Such purchase credit impaired loans are accounted for individually. The Company estimates the amount and timing of expected cash flows for each loan, and the expected cash flows in excess of the amount paid are recorded as interest income over the remaining life of the loan (accretable yield). During acquisitions, if the Company expects to liquidate the loan collateral in a relatively short period of time, the Company will assign no value to accretable yield as the impact is immaterial. The excess of the loan’s contractual principal and interest over expected cash flows is not recorded (non-accretable difference). Over the life of the loan, expected cash flows continue to be estimated. If the present value of the expected cash flows is less than the carrying amount, a loss is recorded. If the present value of the expected cash flows is greater than the carrying amount, it is recognized as part of future interest income. Nonaccrual Loans. Generally, loans are designated as nonaccrual when either principal or interest payments are 90 days or more past due based on contractual terms unless the loan is well secured and in the process of collection. Consumer loans are typically charged-off no later than 180 days past due. In all cases, loans are placed on nonaccrual or charged-off at an earlier date if collection of principal or interest is considered doubtful. When a loan is placed on nonaccrual status, unpaid interest credited to income is reversed against income. Future interest income may be recorded on a cash basis after recovery of principal is reasonably assured. Nonaccrual loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured. Impaired Loans. A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect all contractual principal and interest due according to 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 on the value of the underlying collateral if the loan is collateral dependent. The Company evaluates the collectability of both principal and interest when assessing the need for a loss accrual. Factors considered by management in determining impairment include payment status, collateral value and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record and the amount of the shortfall in relation to the principal and interest owed. Troubled Debt Restructurings . In cases where a borrower experiences financial difficulties and the Company makes certain concessionary modifications to contractual terms, the loan is classified as a troubled debt restructured loan and classified as impaired. Generally, a nonaccrual loan that is a troubled debt restructuring remains on nonaccrual until such time that repayment of the remaining principal and interest is not in doubt and the borrower has a period of satisfactory repayment performance. Allowance for Loan Losses The allowance consists of specific and general components. The specific component relates to loans that are individually classified as impaired. If a loan is impaired, a portion of the allowance is allocated so that the loan is reported net at the present value of estimated future cash flows using the loan’s existing rate or at the fair value of collateral if repayment is expected solely from the sale of the collateral. Troubled debt restructurings are separately identified for impairment disclosures and are measured at the present value of estimated future cash flows using the loan’s effective rate at inception. If a troubled debt restructuring is considered to be a collateral dependent loan, the loan is reported, net, at the fair value of the collateral. For troubled debt restructurings that subsequently default, the Company determines the amount of reserve in accordance with the accounting policy for the allowance for loan losses. The general component of the allowance for loan losses covers non-impaired loans and is based on historical loss experience adjusted for current factors. The historical loss experience is determined by portfolio and class and is based on the actual loss history experienced by the Company. This actual loss experience is then adjusted by comparing current conditions to the conditions that existed during the loss history. The Company considers the changes related to (i) lending policies, (ii) economic conditions, (iii) nature and volume of the loan portfolio and class, (iv) lending staff, (v) volume and severity of past due, non-accrual and risk graded loans, (vi) loan review system, (vii) value of underlying collateral for collateral dependent loans, (viii) concentration levels and (ix) effects of other external factors. The Company considers loan performance and collateral values in assessing risk for each class in the loan portfolio, as follows: • Commercial and industrial loans are dependent on the strength of the industries of the related borrowers and the success of their businesses. Commercial and industrial loans are advanced for equipment purchases, to provide working capital or meet other financing needs of the business. These loans may be secured by accounts receivable, inventory, equipment or other business assets. Financial information is obtained from the borrower to evaluate the debt service coverage and ability to repay the loans. • Commercial real estate loans are dependent on the industries tied to these loans, as well as the local commercial real estate market. The loans are secured by real estate and typically appraisals are obtained to support the loan amount. Generally, an evaluation of the project’s cash flows is performed to evaluate the borrower’s ability to repay the loan at the time of origination and periodically updated during the life of the loan. • Residential real estate loans are affected by the local residential real estate market, the local economy and movement in interest rates. The Company evaluates the borrower’s repayment ability through a review of credit reports and debt to income ratios. Generally, appraisals are obtained to support the loan amount. • Agricultural real estate loans are real estate loans related to farmland and are affected by the value of farmland. Generally, the Company evaluates the borrower’s ability to repay based on cash flows from farming operations. • Consumer loans are dependent on the local economy. Consumer loans are generally secured by consumer assets, but may be unsecured. Typically, the Company evaluates the borrower’s repayment ability through a review of credit scores and an evaluation of debt to income ratios. • Agricultural loans are primary operating lines subject to annual farming revenues, including productivity and yield of the farm products and market pricing at the time of sale. There have been no material changes to the Company’s accounting policies related to its allowance for loan loss methodology during 2019 and 2018. Transfers of Financial Assets Bank-Owned Life Insurance Other Real Estate Owned Premises and Equipment Premises and equipment and other long-term assets are reviewed for impairment when events indicate their carrying amount may not be recoverable from future undiscounted cash flows. If impaired, the assets are recorded at fair value. Lease Obligation. The Company evaluates contracts that convey the right to control the use of identified property, plant or equipment for a period of time for consideration to determine if they are lease obligations. The Company evaluates each lease component to determine if the lease qualifies as a financing lease or as an operating lease. Leases that meet any of the following criteria are considered financing leases: (1) the lease transfers ownership of the underlying asset by the end of the lease term; (2) the lease grants the Company an option to purchase the underlying asset that the Company is reasonably certain to exercise; (3) the lease term is the major part of the remaining economic life of the underlying asset; (4) the present value of the sum of the lease payments and any residual value guaranteed by the Company that is not already reflected in lease payments equals or exceeds substantially all of the fair of the underlying asset; or (5) the underlying asset is of such a specialized nature that it is expected to have no alternative use to the lessor at the end of the lease term. If none of the financing lease criteria are met, the lease is considered an operating lease. The Company evaluates each lease to determine the lease term which will be used based on the type and use of the leased equipment and future expected changes in operations. The resulting lease term will consist of the non-cancellable period for which the Company has the right to use the underlying asset plus (1) periods covered by an option to extend the lease if the Company is reasonably certain to exercise that option; (2) periods covered by an option to terminate the lease if the Company is reasonably certain not to exercise that option; and (3) periods covered by an option to extend the lease in which exercise of the option is controlled by the lessor. The Company has certain leases that contain options to extend the lease and contain options for changes in lease payments which are evaluated by the Company to determine the recorded values for right-of-use assets and lease liability. Lease payments that are contractually known at lease inception are used by the Company for calculating the right-of-use asset and lease liability. Lease payments that vary because of facts or circumstances after the commencement date of the lease from other than passage of time are treated as variable lease payments and are recorded to lease expense in the period in which the obligation for the payments are incurred by the Company. Variable lease payments are not part of the lease payments for determining the right-of-use asset or the lease liability at the lease commencement date. The discount rate to initially determine the present value of the lease payments is based on the information available at the lease commencement date and is either the rate implicit in the lease or the Company’s incremental borrowing rate If the rate implicit in the lease is known or determinable, that rate shall be used. If that rate is not known, the Company’s incremental borrowing rate shall be used. At the January 2019, implementation of this accounting guidance, the Company’s incremental borrowing rate based on the remaining lease term was used to calculate the right-of-use assets and operating lease liabilities. Operating lease right-of-use assets and lease obligations are accounted for subsequent to initial recording by amortizing the right-of-use asset over the lease term on a straight-line method while the lease obligation is increased by the accrual of interest and decreased by subsequent lease payments. Operating lease right-of-use asset amortization and lease obligation interest are reported in non-interest expense in the Consolidated Statements of Operations. Operating lease payments and variable lease payments are reflected within cash flows from operating activities in the Consolidated Statement of Cash Flows. Financing lease right-of-use assets and lease obligations are accounted for subsequent to initial recording by amortizing the right-of-use asset similar to owned assets over the lesser of the lease term or economic life of the asset if the lease transfers ownership of the leased asset while the lease obligation is increased by the accrual of interest and decreased by subsequent lease payments. Financing lease right-of-use asset amortization is reported in non-interest expense, similar to other owned assets, and lease obligation interest accruals are reported in interest expense in the Consolidated Statements of Operations. Financing lease obligation principal payments are reflected within cash flows from financing activities and interest payments and variable lease payments are reflected with the cash flows from operating activities in the Consolidated Statements of Cash Flows. The Company evaluates lease modifications and will consider the modification a new contract if the modification grants the lessee an additional right of use not included in the original lease and the lease payments increase commensurate with the stand-alone price for the additional right-of-use asset. The Company will reallocate the remaining consideration in the contract and remeasure the lease liability using a discount rate for the lease determined at the effective date of the lease modification if the contract modification does any of the following: (1) grants the Company an additional right of use that was not included in the original contract; (2) extends or reduces the term of an existing lease; (3) fully or partially terminates an existing lease; or (4) changes the consideration in the contract only. The Company will recognize the remeasurement of the lease liability for the modification as an adjustment of the right-of-use asset when the contract modification grants additional right-of-use-assets, extends or reduces the term of the lease or changes the consideration of the lease contract. In the case of full or partial termination of the lease, the Company will decrease the carrying amount of the right-of-use-asset on a proportionate basis to the reduction in the lease liability with a gain or loss recognized for the difference between the lease liability adjustment and right of use asset adjustment. If the Company modifies an operating lease which it is the lessor and the modification is not accounted for as a separate contract, the Company will account for the modification as if it were a termination of the existing lease and the creation of a new lease that commences on the effective date of the modification as follows: • If the modified lease is classified as an operating lease, the Company will consider any prepaid or accrued lease rentals relating to the original lease as part of the lease payments for the modified lease. • If the modified lease is classified as a direct financing lease or a sales-type lease, the Company will derecognize any deferred rent liability or accrued rent asset and adjust the selling profit or loss. If the Company modifies a direct financing lease which it is the lessor and the modification is not accounted for as a separate contract, the Company will account for the modified lease as follows: • If the modified lease is classified as a direct financing lease, the Company will adjust the discount rate for the modified lease, so the initial net investment equals the carrying amount of the original lease at the modification effective date. • If the modified lease is classified as a sales-type lease, the Company shall determine the selling profit/loss on commencement date of the modified lease as the difference between the fair value of the underlying asset and net investment in the original lease prior to modification. • If the modified lease is classified as an operating lease, the carrying amount of the underlying asset shall equal the net investment in the original lease immediately before the effective date of the modification. If the Company modifies a sales-type lease which it is the lessor and the modification is not accounted for as a separate contract, the Company will account for the modified lease as follows: • If the modified lease is classified as a direct financing lease, the Company will adjust the discount rate for the modified lease, so the initial net investment of the modified lease equals the carrying amount of the original lease at the modification effective date. • If the modified lease is classified as a direct financing lease, the Company will adjust the discount rate for the modified lease, so the initial net investment equals the carrying amount of the original lease at the modification effective date. Federal Reserve Bank and Federal Home Loan Bank Stock Goodwill and Core Deposit Intangibles Credit Related Financial Instruments Derivatives An interest rate swap is an agreement between two entities to exchange cash flows in the future. The agreement sets the dates on which the cash flows will be paid and the manner in which the cash flows will be calculated. Typically, an interest rate swap transaction is used as an exchange of cash flows based on a fixed rate for cash flows based on a variable rate. In an interest rate cap agreement, a cash flow is generated if the price or interest rate of an underlying variable rises above a certain threshold price or interest rate. In an interest rate floor agreement, a cash flow is generated if the price or interest rate of an underlying variable falls below a certain threshold price or interest rate. Caps and floors are designed as protection against the interest rate on a variable rate asset or liability rising above or falling below a certain level. At the inception of a derivative contract, the Company designates the derivatives as one of three types based on the Company’s intentions and belief as to likely effectiveness as a hedge. These three types are: (1) a hedge of the fair value of a recognized asset or liability or of an unrecognized firm commitment (“fair value hedge”); (2) a hedge of a forecasted transaction or the variability of cash flows to be received or paid related to a recognized asset or liability (“cash flow hedge”); or (3) an instrument with no hedging designation (“stand-alone derivative”). For a fair value hedge, the gain or loss on the derivative, as well as the offsetting loss or gain on the hedged item, are recognized in current earnings as fair value changes. For a cash flow hedge, 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. For both types of hedges, changes in the fair value of derivatives that are not highly effective in hedging the changes in fair value or expected cash flows of the hedged item are recognized immediately in current earnings. Changes in the fair value of derivatives that do not qualify for hedge accounting are reported currently in earnings as non-interest income. Net cash settlements on derivatives that qualify for hedge accounting are recorded in interest income or interest expense, based on the item being hedged. Net cash settlements on derivatives that do not qualify for hedge accounting are reported in non-interest income. Cash flows on hedges are classified in the cash flow statement the same as the cash flows of the items being hedged unless the derivative meets the criteria to be a financing derivative. All derivatives are recognized in the consolidated balance sheet at their fair values and are reported as either derivative assets or derivative liabilities net of accrued net settlements and collateral, if any. The individual derivative amounts are netted by counterparty when the netting requirements have been met. If these netted values are positive, they are classified as an asset and, if negative, they are classified as a liability. The Company formally documents the relationship between derivatives and hedged items, as well as the risk-management objective and the strategy for undertaking hedge transactions at the inception of the hedging relationship. This documentation includes linking fair value or cash flow hedges to specific assets and liabilities on the balance sheet or to specific firm commitments or forecasted transactions. The Company also formally assesses, both at the hedge’s inception and on an ongoing basis, at least quarterly, whether the derivative instruments that are used are highly effective in offsetting changes in fair values or 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 non-interest income. When a fair value hedge is discontinued, the hedged asset or liability is no longer adjusted for changes in fair value and the existing basis adjustment is amortized or accreted over the remaining life of the asset or liability. When a cash flow hedge is discontinued but the hedged cash flows or forecasted transactions are still expected to occur, gains or losses that are accumulated in other comprehensive income are amortized into earnings over the same periods which the hedged transactions will affect earnings. The Company has entered into interest rate cap derivatives to assist with interest rate risk management. These derivatives are not designated as hedging instruments but rather as stand-alone derivatives. The fair values of stand-alone derivatives are included in other assets and other liabilities. Changes in fair value of stand-alone derivatives are recorded through earnings as non-interest income. Income Taxes On December 22, 2017, the President of the United States signed the 2017 Tax Cuts and Jobs Act (Tax Reform) which reduced the U.S. federal statutory corporate income tax rate from 35% to 21% beginning in 2018. In connection with the December 2017, enactment the Company recognized a $1,086 re-measurement of its net deferred tax assets, including a re-measurement of $535 in a net deferred tax asset related to unrealized losses on available-for-sale securities and held-to-maturity securities previously transferred from available-for-sale. Because the tax effect of variations in unrealized losses on available-for-sale securities and transferred held-to-maturity securities impact accumulated other comprehensive income, the Company had a stranded tax effect of $535 as of the date of enactment. The Company elected to early adopt ASU 2018-02 resulting in a reclassification of $535 from accumulated other comprehensive income to retained earnings in December 2017. The Company recognizes interest and/or penalties related to income tax matters in income tax expense. There were no such interest or penalties incurred in 2019, 2018 or 2017. Earnings Per Common Share Share-Based Payments Compensation expense associated with restricted stock units is based on the fair value of the units at the grant date. This compensation expense is recognized ratably over the service period stipulated in the grant agreement. Comprehensive Income Loss Contingencies Restrictions on Cash Dividend Restriction Fair Value Segment Information Reclassifications Recent Accounting Pronouncements: In February 2016, FASB issued ASU 2016-02, Leases, Leases – Targeted In June 2016, FASB issued ASU 2016-13, Financial Instruments – Credit Losses, In January 2017, the FASB issued ASU 2017-04, Intangibles-Goodwill and Other In March 2017, FASB issued ASU 2017-08, Premium Amortization on Purchased Callable Debt Securities. In August 2017, FASB issued ASU 2017-12, Derivatives and Hedging, Targeted Improvements to Accounting for Hedging Activities In August 2018, FASB issued ASU 2018-15, Intangibles-Goodwill and Other-Internal-Use Software, Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract. |
BUSINESS COMBINATIONS
BUSINESS COMBINATIONS | 12 Months Ended |
Dec. 31, 2019 | |
Business Combinations [Abstract] | |
BUSINESS COMBINATIONS | On February 8, 2019, the Company acquired the assets and assumed the deposits and certain other liabilities of two bank locations in Guymon, Oklahoma and one bank location in Cordell, Oklahoma, from MidFirst Bank, based in Oklahoma City, Oklahoma (“MidFirst”). Results of operations of these new banks were included in the Company’s results of operations beginning February 9, 2019. Acquisition-related costs associated with this acquisition were $902 ($684 on an after-tax basis) and are included in merger expense in the Company’s income statement for the year ended December 31, 2019. The fair value of consideration exchanged exceeded the recognized amounts of the identifiable net assets and resulted in goodwill of $4,720. Goodwill resulted from a combination of expected synergies including expansion into western Oklahoma with an additional three bank locations and growth opportunities. The following table summarizes the consideration paid for the MidFirst assets acquired and liabilities assumed recognized at the acquisition date. Recognized amounts of identifiable assets acquired and liabilities assumed: Cash and due from banks $ 85,360 Loans 6,507 Premises and equipment 656 Core deposit intangible 1,350 Other assets 13 Total assets acquired 93,886 Deposits 98,543 Interest payable and other liabilities 63 Total liabilities assumed 98,606 Total identifiable net assets (4,720 ) Goodwill 4,720 $ — The fair value of net assets acquired includes fair value adjustments to certain loans that were not considered impaired as of the acquisition date. The fair value adjustments were determined using discounted contractual cash flows. However, the Company believes that all contractual cash flows related to these financial instruments will be collected. As such, these loans were not considered impaired at the acquisition date and were not subject to the guidance relating to purchased credit impaired loans, which have shown evidence of credit deterioration since origination. The following table presents information about the loans acquired in the MidFirst acquisition as of the date of acquisition. Non-Credit Impaired Purchased Impaired Contractually required principal $ 6,770 $ — Non-accretable difference (expected losses) — — Cash flows expected to be collected 6,770 — Accretable yield (263 ) — Fair value of acquired loans $ 6,507 $ — The following table presents the carrying value of the loans acquired in the MidFirst acquisition by class, as of the date of acquisition. Non-Credit Impaired Purchased Credit Impaired Total Commercial real estate $ 668 $ — $ 668 Commercial and industrial 34 — 34 Residential real estate 3,271 — 3,271 Consumer 2,534 — 2,534 Fair value of acquired loans $ 6,507 $ — $ 6,507 Assuming that the MidFirst acquisition would have taken place on January 1, 2018, total combined revenue would have been $200,807 for year ended December 31, 2019 and $183,022 for year ended December 31, 2018. Net income would have been $25,216 and $33,856 at December 31, 2019 and 2018. The pro forma amounts disclosed exclude merger expense from non-interest expense, which is considered a material non-recurring adjustment. Separate revenue and earnings of the former MidFirst locations are not available subsequent to the acquisition. On August 23, 2018, the Company acquired City Bank and Trust Company (“City Bank”), which had one branch location in Guymon, Oklahoma, from Docking Bancshares, Inc. Results of operations of City Bank were included in the Company’s results of operations beginning August 24, 2018. Acquisition-related costs associated with this merger were $1,387 ($1,054 on an after-tax basis) and are included in merger expenses in the Company’s income statement for the year ended December 31, 2018. The fair value of consideration exchanged exceeded the recognized amounts of the identifiable net assets and resulted in goodwill of $5,824. Goodwill resulted from a combination of expected synergies, expansion in western Oklahoma with the addition of one branch location and growth opportunities. The following table summarizes the consideration paid for City Bank and the amounts of the assets acquired and liabilities assumed recognized at the merger date. Fair value of consideration: Cash $ 18,900 $ 18,900 Recognized amounts of identifiable assets acquired and liabilities assumed: Cash and due from banks $ 27,659 Held-to-maturity securities 44,927 Federal Reserve Bank and Federal Home Loan Bank stock 881 Loans 77,148 Premises and equipment 2,044 Core deposit intangibles 3,360 Other real estate owned 307 Other assets 1,103 Total assets acquired 157,429 Deposits 126,853 Federal Home Loan Bank advances 17,353 Interest payable and other liabilities 147 Total liabilities assumed 144,353 Total identifiable net assets 13,076 Goodwill 5,824 $ 18,900 The fair value of net assets acquired includes fair value adjustments to certain loans that were not considered purchased credit impaired as of the merger date. The fair value adjustments were determined using discounted contractual cash flows. However, the Company believes that all contractual cash flows related to these financial instruments will be collected. As such, these loans were not considered impaired at the merger date and were not subject to the guidance relating to purchased credit impaired loans, which have shown evidence of credit deterioration since origination. Cash flows associated with purchased credit impaired loans are not considered reasonably predictable and as such these loans are considered nonaccrual. The following table presents the best available information about the loans acquired in the City Bank merger as of the date of merger. Non-Credit Impaired Purchased Impaired Contractually required principal $ 74,918 $ 5,136 Non-accretable difference (expected losses) — (1,156 ) Cash flows expected to be collected 74,918 3,980 Accretable yield (1,750 ) — Fair value of acquired loans $ 73,168 $ 3,980 The following table presents the carrying value of the loans acquired in the City Bank merger by class, as of the date of merger. Non-Credit Impaired Purchased Credit Impaired Total Commercial real estate $ 17,398 $ 2,592 $ 19,990 Commercial and industrial 8,463 158 8,621 Residential real estate 26,716 798 27,514 Agricultural real estate 5,571 — 5,571 Consumer 8,905 244 9,149 Agricultural 6,115 188 6,303 Fair value of acquired loans $ 73,168 $ 3,980 $ 77,148 On May 4, 2018, the Company acquired 100% of the outstanding common shares of Kansas Bank Corporation (“KBC”), based in Liberal, Kansas. Results of operations of KBC were included in the Company’s results of operations beginning May 5, 2018. Acquisition-related costs associated with this merger were $4,360 ($3,349 on an after-tax basis) for year ended December 31, 2018, and $14 ($9 on an after-tax basis) for year ended December 31, 2017 and are included in merger expenses in the Company’s income statements. The fair value of consideration exchanged exceeded the recognized amounts of the identifiable net assets and resulted in goodwill of $14,010. Goodwill resulted from a combination of expected synergies, expansion in southwest Kansas with the addition of five branch locations, growth opportunities and increases in stock prices after the stock exchange ratios were negotiated. The following table summarizes the consideration paid for KBC and the amounts of the assets acquired and liabilities assumed recognized at the merger date. Fair value of consideration: Common Stock $ 32,103 Cash 14,918 $ 47,021 Recognized amounts of identifiable assets acquired and liabilities assumed: Cash and due from banks $ 27,899 Available-for-sale securities 22,820 Held-to-maturity securities 92,028 Federal Reserve Bank and Federal Home Loan Bank stock 475 Loans 159,359 Premises and equipment 5,835 Core deposit intangibles 8,080 Other assets 5,618 Total assets acquired 322,114 Deposits 288,352 Interest payable and other liabilities 751 Total liabilities assumed 289,103 Total identifiable net assets 33,011 Goodwill 14,010 $ 47,021 The fair value of net assets acquired includes fair value adjustments to certain loans that were not considered purchased credit impaired as of the merger date. The fair value adjustments were determined using discounted contractual cash flows. However, the Company believes that all contractual cash flows related to these financial instruments will be collected. As such, these loans were not considered impaired at the merger date and were not subject to the guidance relating to purchased credit impaired loans, which have shown evidence of credit deterioration since origination. Cash flows associated with purchased credit impaired loans are not considered reasonably predictable and as such these loans are considered nonaccrual. The following table presents the best available information about the loans acquired in the KBC merger as of the date of merger. Non-Credit Impaired Purchased Impaired Contractually required principal $ 160,526 $ 5,066 Non-accretable difference (expected losses) — (2,305 ) Cash flows expected to be collected 160,526 2,761 Accretable yield (3,928 ) — Fair value of acquired loans $ 156,598 $ 2,761 The following table presents the carrying value of the loans acquired in the KBC merger by class, as of the date of merger. Non-Credit Impaired Purchased Credit Impaired Total Commercial real estate $ 94,492 $ 1,975 $ 96,467 Commercial and industrial 18,848 622 19,470 Residential real estate 2,898 — 2,898 Agricultural real estate 22,425 — 22,425 Consumer 3,539 — 3,539 Agricultural 14,396 164 14,560 Fair value of acquired loans $ 156,598 $ 2,761 $ 159,359 Also on May 4, 2018, the Company acquired 100% of the outstanding common shares of Adams Dairy Bancshares, Inc. (“Adams”), based in Blue Springs, Missouri. Results of operations of Adams were included in the Company’s results of operations beginning May 5, 2018. Acquisition-related costs associated with this merger were $1,217 ($961 on an after-tax basis) for year ended December 31, 2018, and $4 ($2 on an after-tax basis) for year ended December 31, 2017, are included in merger expenses in the Company’s income statements. The fair value of consideration exchanged exceeded the recognized amounts of the identifiable net assets and resulted in goodwill of $8,465. Goodwill resulted from a combination of expected synergies, expansion in the Kansas City metro area with the addition of one branch location, growth opportunities and increases in stock prices after the stock exchange ratios were negotiated. The following table summarizes the consideration paid for Adams and the amounts of the assets acquired and liabilities assumed recognized at the merger date. Fair value of consideration: Common stock $ 13,456 Cash 3,960 $ 17,416 Recognized amounts of identifiable assets acquired and liabilities assumed: Cash and due from banks $ 2,812 Interest bearing time deposits in other banks 4,237 Available-for-sale securities 10,677 Held-to-maturity securities 335 Federal Reserve Bank and Federal Home Loan Bank stock 194 Loans 82,716 Premises and equipment 4,485 Bank-owned life insurance 2,869 Core deposit intangibles 1,990 Other assets 1,042 Total assets acquired 111,357 Deposits 97,124 Federal Home Loan Bank advances 1,000 Interest payable and other liabilities 4,282 Total liabilities assumed 102,406 Total identifiable net assets 8,951 Goodwill 8,465 $ 17,416 The fair value of net assets acquired includes fair value adjustments to certain loans that were not considered purchased credit impaired as of the merger date. The fair value adjustments were determined using discounted contractual cash flows. However, the Company believes that all contractual cash flows related to these financial instruments will be collected. As such, these loans were not considered impaired at the merger date and were not subject to the guidance relating to purchased credit impaired loans, which have shown evidence of credit deterioration since origination. Cash flows associated with purchased credit impaired loans are not considered reasonably predictable and as such these loans are considered nonaccrual. The following table presents the best available information about the loans acquired in the Adams merger as of the date of merger. Non-Credit Impaired Purchased Impaired Contractually required principal $ 84,225 $ 1,477 Non-accretable difference (expected losses) — (238 ) Cash flows expected to be collected 84,225 1,239 Accretable yield (2,748 ) — Fair value of acquired loans $ 81,477 $ 1,239 The following table presents the carrying value of the loans acquired in the Adams merger by class, as of the date of merger. Non-Credit Impaired Purchased Credit Impaired Total Commercial real estate $ 74,657 $ 820 $ 75,477 Commercial and industrial 1,002 419 1,421 Residential real estate 4,955 — 4,955 Consumer 863 — 863 Fair value of acquired loans $ 81,477 $ 1,239 $ 82,716 Assuming that the City Bank, KBC and Adams mergers would have taken place on January 1, 2017, total combined revenue would have been $203,860 for year ended December 31, 2018 and $147,222 for year ended December 31, 2017. Net income would have been $49,801 and $27,108 at December 31, 2018 and 2017. The pro forma amounts disclosed exclude merger expense from non-interest expense, which is considered a material non-recurring adjustment. Separate revenue and earnings of the former City Bank, KBC and Adams are not available subsequent to the business combinations. |
SECURITIES
SECURITIES | 12 Months Ended |
Dec. 31, 2019 | |
Investments Debt And Equity Securities [Abstract] | |
SECURITIES | NOTE 3 – SECURITIES The amortized cost and fair value of available-for-sale securities and the related gross unrealized gains and losses recognized in accumulated other comprehensive income were as follows. Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value December 31, 2019 Available-for-sale securities Residential mortgage-backed securities (issued by government-sponsored entities) $ 141,082 $ 1,261 $ (276 ) $ 142,067 $ 141,082 $ 1,261 $ (276 ) $ 142,067 December 31, 2018 Available-for-sale securities Residential mortgage-backed securities (issued by government-sponsored entities) $ 173,503 $ 12 $ (4,640 ) $ 168,875 $ 173,503 $ 12 $ (4,640 ) $ 168,875 The amortized cost and fair value of held-to-maturity securities and the related gross unrecognized gains and losses were as follows. Amortized Cost Gross Unrecognized Gains Gross Unrecognized Losses Fair Value December 31, 2019 Held-to-maturity securities U.S. Government-sponsored entities $ 1,991 $ 23 $ (1 ) $ 2,013 Residential mortgage-backed securities (issued by government sponsored entities) 593,236 11,272 (536 ) 603,972 Corporate 22,992 503 — 23,495 Small Business Administration loan pools 1,478 12 — 1,490 State and political subdivisions 149,362 3,604 (25 ) 152,941 $ 769,059 $ 15,414 $ (562 ) $ 783,911 December 31, 2018 Held-to-maturity securities U.S. Government-sponsored entities $ 3,873 $ 7 $ (20 ) $ 3,860 Residential mortgage-backed securities (issued by government sponsored entities) 567,766 2,354 (9,653 ) 560,467 Corporate 22,993 234 (326 ) 22,901 Small Business Administration loan pools 1,746 — (18 ) 1,728 State and political subdivisions 151,978 804 (1,749 ) 151,033 $ 748,356 $ 3,399 $ (11,766 ) $ 739,989 The tables above present unrecognized losses on held-to-maturity securities since date of designation. The fair value and amortized cost of debt securities at December 31, 2019, by contractual maturity, is shown below. Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. Securities not due at a single maturity date, primarily mortgage-backed securities, are shown separately. Available-for-Sale Held-to-Maturity Amortized Cost Fair Value Amortized Cost Fair Value Within one year $ — $ — $ 17,421 $ 17,451 One to five years — — 35,169 36,004 Five to ten years — — 51,217 52,691 After ten years — — 72,016 73,793 Mortgage-backed securities 141,082 142,067 593,236 603,972 Total debt securities $ 141,082 $ 142,067 $ 769,059 $ 783,911 The carrying value of securities pledged as collateral, to secure public deposits and for other purposes, was approximately $780,038 at December 31, 2019 and $800,744 at December 31, 2018. At year-end 2019 and 2018, there were no holdings of securities of any one issuer, other than the U.S. Government and its agencies, in an amount greater than 10% of stockholders’ equity. The following tables show gross unrealized losses and fair value aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at December 31, 2019 and 2018. Less Than 12 Months 12 Months or More Total Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss December 31, 2019 Available-for-sale securities Residential mortgage-backed (issued by government-sponsored entities) $ 2,017 $ (3 ) $ 32,466 $ (273 ) $ 34,483 $ (276 ) Total temporarily impaired securities $ 2,017 $ (3 ) $ 32,466 $ (273 ) $ 34,483 $ (276 ) December 31, 2018 Available-for-sale securities Residential mortgage-backed (issued by government-sponsored entities) $ 48,332 $ (575 ) $ 115,844 $ (4,065 ) $ 164,176 $ (4,640 ) Total temporarily impaired securities $ 48,332 $ (575 ) $ 115,844 $ (4,065 ) $ 164,176 $ (4,640 ) Less Than 12 Months 12 Months or More Total Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss December 31, 2019 Held-to-maturity securities U.S. Government-sponsored entities $ — $ — $ 999 $ (1 ) $ 999 $ (1 ) Residential mortgage-backed (issued by government-sponsored entities) 26,246 (51 ) 96,987 (639 ) 123,233 (690 ) Small Business Administration loan pools 811 (14 ) — — 811 (14 ) State and political subdivisions 1,771 (4 ) 1,354 (21 ) 3,125 (25 ) Total temporarily impaired securities $ 28,828 $ (69 ) $ 99,340 $ (661 ) $ 128,168 $ (730 ) December 31, 2018 Held-to-maturity securities U.S. Government-sponsored entities $ 1,882 $ (3 ) $ 982 $ (17 ) $ 2,864 $ (20 ) Residential mortgage-backed (issued by government-sponsored entities) 31,270 (356 ) 294,127 (10,579 ) 325,397 (10,935 ) Corporate 7,500 (326 ) 5,182 (49 ) 12,682 (375 ) Small Business Administration loan pools — — 1,728 (37 ) 1,728 (37 ) State and political subdivisions 40,415 (473 ) 45,137 (1,561 ) 85,552 (2,034 ) Total temporarily impaired securities $ 81,067 $ (1,158 ) $ 347,156 $ (12,243 ) $ 428,223 $ (13,401 ) As of December 31, 2019, the Company held 12 available-for-sale securities and 99 held-to-maturity securities in an unrealized loss position. The tables above present unrealized losses on held-to-maturity securities since the date of their purchase, independent of the impact associated with changes in cost basis upon transfer from the available-for-sale designation to the held-to-maturity designation. Unrealized losses on securities have not been recognized into income because the security issuers are of high credit quality, management does not intend to sell and it is more likely than not that the Company will not be required to sell the securities prior to their anticipated recovery, and the decline in fair value is largely due to changes in interest rates. The fair value is expected to recover as the securities approach maturity. The proceeds from sales and the associated gains and losses on available-for-sale securities reclassified from other comprehensive income to income are listed below. 2019 2018 2017 Proceeds $ — $ — $ 84,087 Gross gains — — 271 Gross losses — — — Income tax expense on net realized gains — — 103 |
LOANS AND ALLOWANCE FOR LOAN LO
LOANS AND ALLOWANCE FOR LOAN LOSSES | 12 Months Ended |
Dec. 31, 2019 | |
Receivables [Abstract] | |
Loans and Allowance for Loan Losses | NOTE 4 – LOANS AND ALLOWANCE FOR LOAN LOSSES The following table lists categories of loans at December 31, 2019 and 2018. 2019 2018 Commercial real estate $ 1,158,022 $ 1,251,992 Commercial and industrial 592,052 582,527 Residential real estate 503,439 444,540 Agricultural real estate 141,868 139,332 Consumer 68,378 62,894 Agricultural 92,893 94,123 Total loans 2,556,652 2,575,408 Allowance for loan losses (12,232 ) (11,454 ) Net loans $ 2,544,420 $ 2,563,954 During 2019 the Company purchased eight pools of residential real estate loans totaling $130,502. As of December 31, 2019 and 2018, residential real estate loans include $144,554 and $64,558 of purchased residential real estate loans. Overdraft deposit accounts are reclassified and included in consumer loans above. These accounts totaled $815 and $1,279 at December 31, 2019 and 2018. The following tables present the activity in the allowance for loan losses by class for the years ended December 31, 2019, 2018 and 2017. December 31, 2019 Commercial Real Estate Commercial and Industrial Residential Real Estate Agricultural Real Estate Consumer Agricultural Total Allowance for loan losses: Beginning balance $ 4,662 $ 2,707 $ 2,320 $ 391 $ 1,070 $ 304 $ 11,454 Provision for loan losses 1,310 14,193 941 213 1,387 310 18,354 Loans charged-off (2,178 ) (13,911 ) (1,077 ) (43 ) (1,394 ) (87 ) (18,690 ) Recoveries 125 72 492 47 359 19 1,114 Total ending allowance balance $ 3,919 $ 3,061 $ 2,676 $ 608 $ 1,422 $ 546 $ 12,232 December 31, 2018 Commercial Real Estate Commercial and Industrial Residential Real Estate Agricultural Real Estate Consumer Agricultural Total Allowance for loan losses: Beginning balance $ 2,740 $ 2,136 $ 2,262 $ 319 $ 768 $ 273 $ 8,498 Provision for loan losses 1,832 636 97 146 1,188 62 3,961 Loans charged-off (1,779 ) (118 ) (293 ) (93 ) (1,431 ) (43 ) (3,757 ) Recoveries 1,869 53 254 19 545 12 2,752 Total ending allowance balance $ 4,662 $ 2,707 $ 2,320 $ 391 $ 1,070 $ 304 $ 11,454 December 31, 2017 Commercial Real Estate Commercial and Industrial Residential Real Estate Agricultural Real Estate Consumer Agricultural Total Allowance for loan losses: Beginning balance $ 2,420 $ 1,881 $ 1,765 $ 35 $ 266 $ 65 $ 6,432 Provision for loan losses (69 ) 651 604 287 1,236 244 2,953 Loans charged-off (271 ) (431 ) (350 ) (16 ) (1,025 ) (42 ) (2,135 ) Recoveries 660 35 243 13 291 6 1,248 Total ending allowance balance $ 2,740 $ 2,136 $ 2,262 $ 319 $ 768 $ 273 $ 8,498 The following tables present the recorded investment in loans and the balance in the allowance for loan losses by portfolio and class based on impairment method as of December 31, 2019 and 2018. December 31, 2019 Commercial Real Estate Commercial and Industrial Residential Real Estate Agricultural Real Estate Consumer Agricultural Total Allowance for loan losses: Individually evaluated for impairment $ 281 $ 199 $ 303 $ 56 $ 39 $ 57 $ 935 Collectively evaluated for impairment 3,581 2,848 2,352 459 1,383 394 11,017 Purchased credit impaired loans 57 14 21 93 — 95 280 Total $ 3,919 $ 3,061 $ 2,676 $ 608 $ 1,422 $ 546 $ 12,232 Loan Balance: Individually evaluated for impairment $ 4,375 $ 16,335 $ 7,358 $ 584 $ 381 $ 518 $ 29,551 Collectively evaluated for impairment 1,145,701 570,606 493,309 135,776 67,972 90,347 2,503,711 Purchased credit impaired loans 7,946 5,111 2,772 5,508 25 2,028 23,390 Total $ 1,158,022 $ 592,052 $ 503,439 $ 141,868 $ 68,378 $ 92,893 $ 2,556,652 December 31, 2018 Commercial Real Estate Commercial and Industrial Residential Real Estate Agricultural Real Estate Consumer Agricultural Total Allowance for loan losses: Individually evaluated for impairment $ 242 $ 185 $ 391 $ 22 $ 62 $ 10 $ 912 Collectively evaluated for impairment 3,695 2,493 1,861 367 925 293 9,634 Purchased credit impaired loans 725 29 68 2 83 1 908 Total $ 4,662 $ 2,707 $ 2,320 $ 391 $ 1,070 $ 304 $ 11,454 Loan Balance: Individually evaluated for impairment $ 23,323 $ 5,020 $ 4,434 $ 856 $ 678 $ 2,252 $ 36,563 Collectively evaluated for impairment 1,215,173 571,171 437,219 133,415 61,978 89,194 2,508,150 Purchased credit impaired loans 13,496 6,336 2,887 5,061 238 2,677 30,695 Total $ 1,251,992 $ 582,527 $ 444,540 $ 139,332 $ 62,894 $ 94,123 $ 2,575,408 Excluding purchased credit impaired loans, included in the above tables is $624,747, $827,676 and $796,064 of loans purchased at a discount acquired as part of a merger and the discount associated with these loans is $8,287, $11,372 and $7,231 at December 31, 2019, 2018 and 2017. The following table presents information related to impaired loans, excluding those purchased credit impaired loans which have not deteriorated since acquisition, by class of loans as of and for the year ended December 31, 2019. December 31, 2019 Unpaid Principal Balance Recorded Investment Allowance for Loan Losses Allocated Average Recorded Investment Interest Income Recognized With no related allowance recorded: Commercial real estate $ 2,166 $ 2,150 $ — $ 6,372 $ 82 Commercial and industrial 20,152 14,832 — 4,617 11 Residential real estate 4,395 4,324 — 4,193 50 Agricultural real estate 1,610 1,533 — 1,750 — Consumer — — — 25 — Agricultural — — — 240 — Subtotal 28,323 22,839 — 17,197 143 With an allowance recorded: Commercial real estate 3,469 2,749 338 6,262 74 Commercial and industrial 1,845 1,640 213 15,150 21 Residential real estate 3,395 3,244 324 6,221 59 Agricultural real estate 1,142 1,015 149 928 2 Consumer 430 381 39 694 9 Agricultural 1,619 1,359 152 803 2 Subtotal 11,900 10,388 1,215 30,058 167 Total $ 40,223 $ 33,227 $ 1,215 $ 47,255 $ 310 The above table presents interest income for the twelve months ended December 31, 2019. Interest income recognized in the above table was substantially recognized on the cash basis. The recorded investment in loans excludes accrued interest receivable due to immateriality. The following table presents information related to impaired loans, excluding purchased credit impaired loans which have not deteriorated since acquisition, by portfolio and class of loans as of and for the year ended December 31, 2018. December 31, 2018 Unpaid Principal Balance Recorded Investment Allowance for Loan Losses Allocated Average Recorded Investment Interest Income Recognized With no related allowance recorded: Commercial real estate $ 20,940 $ 20,902 $ — $ 5,652 $ 150 Commercial and industrial 3,446 3,396 — 5,629 66 Residential real estate 533 527 — 744 20 Agricultural real estate 2,038 2,035 — 1,364 18 Consumer 61 55 — 32 2 Agricultural 756 756 — 411 18 Subtotal 27,774 27,671 — 13,832 274 With an allowance recorded: Commercial real estate 8,700 7,179 967 2,913 142 Commercial and industrial 2,255 1,911 214 1,068 53 Residential real estate 4,934 4,582 459 4,188 74 Agricultural real estate 261 242 24 429 2 Consumer 1,144 859 145 568 33 Agricultural 162 106 11 418 4 Subtotal 17,456 14,879 1,820 9,584 308 Total $ 45,230 $ 42,550 $ 1,820 $ 23,416 $ 582 The above table presents interest income for the twelve months ended December 31, 2018. Interest income recognized in the above table was substantially recognized on the cash basis. The recorded investment in loans excludes accrued interest receivable due to immateriality. The following tables present the aging of the recorded investment in past due loans as of December 31, 2019 and 2018, by portfolio and class of loans. December 31, 2019 30 – 59 Days Past Due 60 – 89 Days Past Due Greater 90 Days Past Due Still On Accrual Nonaccrual Loans Not Past Due Total Commercial real estate $ 1,191 $ 218 $ — $ 6,913 $ 1,149,700 $ 1,158,022 Commercial and industrial 74 11 — 16,906 575,061 592,052 Residential real estate 831 1,008 — 8,013 493,587 503,439 Agricultural real estate 59 78 — 4,807 136,924 141,868 Consumer 402 138 — 381 67,457 68,378 Agricultural 10 14 — 1,359 91,510 92,893 Total $ 2,567 $ 1,467 $ — $ 38,379 $ 2,514,239 $ 2,556,652 December 31, 2018 30 – 59 Days Past Due 60 – 89 Days Past Due Greater 90 Days Past Due Still On Accrual Nonaccrual Loans Not Past Due Total Commercial real estate $ 1,302 $ 259 $ — $ 12,768 $ 1,237,663 $ 1,251,992 Commercial and industrial 509 2,467 — 6,954 572,597 582,527 Residential real estate 782 2,188 18 5,257 436,295 444,540 Agricultural real estate — 30 — 4,857 134,445 139,332 Consumer 501 157 — 914 61,322 62,894 Agricultural 186 3 — 2,453 91,481 94,123 Total $ 3,280 $ 5,104 $ 18 $ 33,203 $ 2,533,803 2,575,408 Credit Quality Indicators The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information and current economic trends, among other factors. The Company analyzes loans individually by classifying the loans as to credit risk. Consumer loans are considered unclassified credits unless downgraded due to payment status or reviewed as part of a larger credit relationship. The Company uses the following definitions for risk ratings: Pass : Loans classified as pass do not have any noted weaknesses and repayment of the loan is expected. These loans are considered unclassified. Special Mention : Loans classified as special mention have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the Company’s credit position at some future date. These loans are considered classified. Substandard : Loans classified as substandard are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected. These loans are considered classified. Doubtful : Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions and values, highly questionable and improbable. These loans are considered classified. The risk category of loans by class of loans is as follows as of December 31, 2019 and 2018. December 31, 2019 Unclassified Classified Total Commercial real estate $ 1,146,696 $ 11,326 $ 1,158,022 Commercial and industrial 560,282 31,770 592,052 Residential real estate 495,418 8,021 503,439 Agricultural real estate 132,065 9,803 141,868 Consumer 67,997 381 68,378 Agricultural 88,607 4,286 92,893 Total $ 2,491,065 $ 65,587 $ 2,556,652 December 31, 2018 Unclassified Classified Total Commercial real estate $ 1,215,015 $ 36,977 $ 1,251,992 Commercial and industrial 553,045 29,482 582,527 Residential real estate 439,184 5,356 444,540 Agricultural real estate 129,285 10,047 139,332 Consumer 61,976 918 62,894 Agricultural 90,848 3,275 94,123 Total $ 2,489,353 $ 86,055 2,575,408 Purchased Credit Impaired Loans The Company has acquired loans, for which there was, at acquisition, evidence of deterioration of credit quality since origination and it was probable, at acquisition, that all contractually required payments would not be collected. The recorded investments in purchased credit impaired loans as of December 31, 2019, 2018 and 2017 were as follows. 2019 2018 2017 Contractually required principal payments $ 29,895 $ 40,772 $ 41,349 Discount (6,505 ) (10,077 ) (12,492 ) Recorded investment $ 23,390 $ 30,695 $ 28,857 The accretable yield associated with these loans was $3,127, $3,785 and $1,980 as of December 31, 2019, 2018 and 2017. The interest income recognized on these loans was $2,227, $1,096 and $1,785 for the years ended December 31, 2019, 2018 and 2017. For the year ended December 31, 2019 there was $628 reversal of provision for loan losses recorded for these loans. For the years ended December 31, 2018 and 2017 there was $714 and $194 provision for loan losses recorded for these loans. Troubled Debt Restructurings Consistent with accounting and regulatory guidance, the Company recognizes a TDR when the Company, for economic or legal reasons related to a borrower’s financial difficulties, grants a concession to the borrower that would not normally be considered. Regardless of the form of concession granted, the Company’s objective in offering a TDR is to increase the probability of repayment of the borrower’s loan. Troubled debt restructurings by class of loans are as follows as of December 31, 2019. Number of Loans Recorded Investment Impairment Recognized Commercial real estate 1 $ 1,247 $ — Commercial and industrial 1 14,261 4,994 Total troubled debt restructurings 2 $ 15,508 $ 4,994 Consistent with accounting and regulatory guidance, the Company recognizes a TDR when the Company, for economic or legal reasons related to a borrower’s financial difficulties, grants a concession to the borrower that would not normally be considered. Regardless of the form of concession granted, the Company’s objective in offering a TDR is to increase the probability of repayment of the borrower’s loan. A concession was granted on these loans in the form of either an interest rate reduction, material maturity date extension or an extension of the amortization plan to provide payment relief. These loans are included in the previous impaired loan tables, were individually assessed for impairment and a charge-off of $4,994 was subsequently recorded in commercial and industrial loans. No interest income was recognized on these loans as they were accounted for as non-accrual during the period. There are no outstanding commitments on these loans as of December 31, 2019. |
OTHER REAL ESTATE OWNED
OTHER REAL ESTATE OWNED | 12 Months Ended |
Dec. 31, 2019 | |
Banking And Thrift [Abstract] | |
OTHER REAL ESTATE OWNED | NOTE 5 – OTHER REAL ESTATE OWNED Changes in other real estate owned for the years ended December 31, 2019 and 2018 were as follows. 2019 2018 Beginning of year $ 6,372 $ 7,907 Transfers in 3,984 3,228 Acquired in acquisition — 307 Net (loss) gain on sales (10 ) (75 ) Proceeds from sales (1,803 ) (4,730 ) 8,543 6,637 Additions to valuation reserve (250 ) (265 ) Recorded investment $ 8,293 $ 6,372 Expenses related to other real estate owned for the years ended December 31, 2019, 2018 and 2017 were as follows. 2019 2018 2017 Net loss (gain) on sales $ 10 $ 75 $ (121 ) Gain on initial valuation of other real estate properties received (191 ) (920 ) — Provision for unrealized losses 250 265 12 Operating expenses, net of rental income 638 509 632 $ 707 $ (71 ) $ 523 The balance of real estate owned includes $741 of foreclosed residential real estate properties recorded as a result of obtaining physical possession of the property at December 31, 2019 and $720 at December 31, 2018. The recorded investment of consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings are in process was $2,174 at December 31, 2019 and $2,064 at December 31, 2018. |
PREMISES AND EQUIPMENT
PREMISES AND EQUIPMENT | 12 Months Ended |
Dec. 31, 2019 | |
Property Plant And Equipment [Abstract] | |
PREMISES AND EQUIPMENT | NOTE 6 – PREMISES AND EQUIPMENT Major classifications of premises and equipment, stated at cost, are as follows. 2019 2018 Land $ 17,018 $ 16,988 Buildings and improvements 68,575 62,116 Furniture, fixtures and equipment 18,207 17,217 103,800 96,321 Less: accumulated depreciation (19,322 ) (15,879 ) Premises and equipment, net $ 84,478 $ 80,442 At December 31, 2019, the Company had lease liabilities totaling $4,112 and right-of-use assets totaling $4,153 related to operating leases. Lease liabilities and right-of-use assets are reflected in other liabilities and other assets. Right-of-use asset and lease obligations by type of property are listed below. December 31, 2019 Right-of-Use Asset Lease Liability Weighted Average Lease Term in Years Weighted Average Discount Rate Operating leases Land and building leases $ 4,153 $ 4,112 16.0 2.95 % Total operating leases $ 4,153 $ 4,112 16.0 2.95 % Operating lease costs are listed below. 2019 Operating lease cost $ 726 Short-term lease cost — Variable lease cost 49 Total operating lease cost $ 775 Rent expense for the period ended December 31, 2018, prior to the adoption of ASU 2016-02, was $695. There were no sales and leaseback transactions, leverage leases, lease transactions with related parties or leases that had not yet commenced during the periods ended December 31, 2019, or 2018. A maturity analysis of operating lease liabilities and reconciliation of the undiscounted cash flows to the total operating lease liability as of December 31, 2019, is listed below. Lease payments Due in one year or less $ 660 Due after one year through two years 503 Due after two years through three years 504 Due after three years through four years 388 Due after four years through five years 214 Thereafter 3,047 Total undiscounted cash flows 5,316 Discount on cash flows (1,204 ) Total $ 4,112 |
GOODWILL AND CORE DEPOSIT INTAN
GOODWILL AND CORE DEPOSIT INTANGIBLES | 12 Months Ended |
Dec. 31, 2019 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
GOODWILL AND CORE DEPOSIT INTANGIBLES | NOTE 7 – GOODWILL AND CORE DEPOSIT INTANGIBLES The assets and liabilities acquired in business combinations are recorded at their estimated fair values at the acquisition date. The excess of the purchase price over the estimated fair value of the net assets for tax free acquisitions is recorded as goodwill, none of which is deductible for tax purposes. The excess of the purchase price over the estimated fair value of the net assets for taxable acquisitions is recorded as goodwill and is deductible for tax purposes. The carrying basis of goodwill and core deposit intangibles as of and for the years ended December 31, 2019 and 2018 were as follows. Goodwill Core Deposit Balance as of January 1, 2018 $ 104,907 $ 10,738 Acquired in acquisition 26,805 13,430 Amortization — (2,443 ) Balance as of December 31, 2018 131,712 21,725 Acquired in acquisition 4,720 1,350 Amortization — (3,168 ) Balance as of December 31, 2019 $ 136,432 $ 19,907 Estimated amortization expense for each of the following five years and thereafter is listed in the following table. Expensed in one year or less $ 3,187 Expensed after one year through two years 3,124 Expensed after two years through three years 3,061 Expensed after three years through four years 2,779 Expensed after four years through five years 2,640 Thereafter 5,116 Total $ 19,907 |
QUALIFIED AFFORDABLE HOUSING PR
QUALIFIED AFFORDABLE HOUSING PROJECT INVESTMENTS | 12 Months Ended |
Dec. 31, 2019 | |
Investments In Affordable Housing Projects [Abstract] | |
QUALIFIED AFFORDABLE HOUSING PROJECT INVESTMENTS | NOTE 8 – QUALIFIED AFFORDABLE HOUSING PROJECT INVESTMENTS The Company invests in qualified affordable housing projects. At December 31, 2019, 2018 and 2017, the balances of the investments in qualified affordable housing projects were $8,663, $6,689 and $4,604. These balances are reflected in the other assets line in the consolidated balance sheets. Total unfunded commitments related to the investments in qualified affordable housing projects totaled $5,836, $3,965 and $1,967 at December 31, 2019, 2018 and 2017. The Company expects to fulfill these commitments during the years 2020 through 2034. During the years ended December 31, 2019, 2018 and 2017, the Company recognized amortization expense of $522, $412 and $376, which was included within pretax income on the consolidated statements of income. Additionally, during the years ended December 31, 2019, 2018 and 2017, the Company recognized tax credits from its investment in affordable housing tax credits of $636, $568 and $660. |
DERIVATIVE FINANCIAL INSTRUMENT
DERIVATIVE FINANCIAL INSTRUMENTS | 12 Months Ended |
Dec. 31, 2019 | |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | |
Derivative Financial Instruments | NOTE 9 – DERIVATIVE FINANCIAL INSTRUMENTS Interest Rate Swaps Designated as Fair Value Hedges The Company periodically enters into interest rate swaps to hedge the fair value of certain commercial real estate loans. These transactions are designated as fair value hedges. In this type of transaction, the Company typically receives from the counterparty a variable-rate cash flow based on the one-month London Interbank Offered Rate (LIBOR) plus a spread to this index and pays a fixed-rate cash flow equal to the customer loan rate. At December 31, 2019, the portfolio of interest rate swaps had a weighted average maturity of 7.3 years, a weighted average pay rate of 5.19% and a weighted average rate received of 4.78%. At December 31, 2018, the portfolio of interest rate swaps had a weighted average maturity of 7.7 years, a weighted average pay rate of 4.94% and a weighted average rate received of 5.10%. Stand-Alone Derivatives The Company periodically enters into interest rate swaps with our borrowers and simultaneously enters into swaps with a counterparty with offsetting terms for the purpose of providing our borrowers long-term fixed rate loans. Neither swap is designated as a hedge and both are marked to market through earnings. At December 31, 2019, this portfolio of interest rate swaps had a weighted average maturity of 8.8 years, weighed average pay rate of 4.92% and a weighted rate received of 4.92%. At December 31, 2018, this portfolio of interest rate swaps had a weighted average maturity of 7.6 years, weighted average pay rate of 5.18% and a weighted rate received of 5.18%. In 2009, the Company purchased an interest rate cap derivative to assist with interest rate risk management. This derivative is not designated as a hedging instrument but rather as a stand-alone derivative. During 2019, the interest rate cap derivative matured. At December 31, 2018, the interest rate cap had a term of 0.9 years and a cap rate of 4.50%. Reconciliation of Derivative Fair Values and Gains/(Losses) The notional amount of a derivative contract is a factor in determining periodic interest payments or cash flows received or paid. The notional amount of derivatives serves as a level of involvement in various types of derivatives. The notional amount does not represent the Company’s overall exposure to credit or market risk, generally, the exposure is significantly smaller. The following table shows the notional balances and fair values (including net accrued interest) of the derivatives outstanding by derivative type at December 31, 2019 and December 31, 2018. December 31, 2019 December 31, 2018 Notional Amount Derivative Assets Derivative Liabilities Notional Amount Derivative Assets Derivative Liabilities Derivatives designated as hedging instruments: Interest rate swaps $ 5,797 $ 30 $ 177 $ 16,743 $ 242 $ — Total derivatives designated as hedging relationships 5,797 30 177 16,743 242 — Derivatives not designated as hedging instruments: Interest rate swaps 114,571 3,505 3,899 38,073 690 777 Interest rate caps/floors — — — 2,264 1 — Total derivatives not designated as hedging instruments 114,571 3,505 3,899 40,337 691 777 Total $ 120,368 3,535 4,076 $ 57,080 933 777 Cash collateral — (4,186 ) (531 ) (541 ) Netting adjustments 182 182 289 289 Net amount presented in balance sheet $ 3,717 $ 72 $ 691 $ 525 The following table shows net gains or losses on derivatives and hedging activities for the years ended December 31, 2019, 2018 and 2017. 2019 2018 2017 Derivatives designated as hedging instruments: Interest rate swaps $ — $ — $ — Total net gain (loss) related to fair value hedge ineffectiveness — — — Derivatives not designated as hedging instruments: Economic hedges: Interest rate swaps 307 202 — Interest rate caps/floors — — (1 ) Total net gains (losses) related to derivatives not designated as hedging instruments 307 202 (1 ) Net gains (losses) on derivatives and hedging activities $ 307 $ 202 $ (1 ) The following table shows the recorded net gains or losses on derivatives and the related hedged items in fair value hedging relationships and the impact of those derivatives on the Company’s net interest income for the years ended December 31, 2019, 2018 and 2017. December 31, 2019 Gain/(Loss) on Derivatives Gain/(Loss) on Hedged Items Net Fair Value Hedge Gain/(Loss) Effect of Derivatives on Net Interest Income Commercial real estate loans $ (387 ) $ 387 $ — $ 21 Total $ (387 ) $ 387 $ — $ 21 December 31, 2018 Gain/(Loss) on Derivatives Gain/(Loss) on Hedged Items Net Fair Value Hedge Ineffectiveness Effect of Derivatives on Net Interest Income Commercial real estate loans $ 283 $ (283 ) $ — $ (40 ) Total $ 283 $ (283 ) $ — $ (40 ) December 31, 2017 Gain/(Loss) on Derivatives Gain/(Loss) on Hedged Items Net Fair Value Hedge Ineffectiveness Effect of Derivatives on Net Interest Income Commercial real estate loans $ 12 $ (12 ) $ — $ (137 ) Total $ 12 $ (12 ) $ — $ (137 ) |
DEPOSITS
DEPOSITS | 12 Months Ended |
Dec. 31, 2019 | |
Banking And Thrift [Abstract] | |
DEPOSITS | NOTE 10 – DEPOSITS Time deposits that met or exceeded the FDIC insurance limit of $250 totaled $285,958 and $316,288 as of December 31, 2019 and 2018. At December 31, 2019 and 2018, Certificate of Deposit Account Registry Services (“CDARS”) deposits of $9,503 and $131,107 were included in the Company’s time deposit balance. Of the CDARS deposits at December 31, 2019 and 2018, $9,503 and $20,933 were reciprocal customer funds placed in the CDARS program. CDARS allows Equity Bank to break large deposits into smaller amounts and place them in a network of other CDARS banks to ensure that FDIC insurance coverage is gained on the entire deposit. Reciprocal deposits are not considered brokered deposits as long as the aggregate balance is less than the lesser of 20% of total liabilities or $5 billion and Equity Bank is well capitalized and well rated. All non-reciprocal deposits and reciprocal deposits in excess of regulatory limits are considered brokered deposits. At December 31, 2019, the scheduled maturities of time deposits are as follows. Due in one year or less $ 615,145 Due after one year through two years 122,102 Due after two years through three years 66,879 Due after three years through four years 16,213 Due after four years through five years 11,242 Thereafter 1,589 Total $ 833,170 |
BORROWINGS
BORROWINGS | 12 Months Ended |
Dec. 31, 2019 | |
Debt Disclosure [Abstract] | |
BORROWINGS | NOTE 11 – BORROWINGS Federal funds purchased and retail repurchase agreements Federal funds purchased and retail repurchase agreements included the following at December 31, 2019 and 2018. 2019 2018 Federal funds purchased $ — $ — Retail repurchase agreements $ 35,708 $ 50,068 Securities sold under agreements to repurchase (retail repurchase agreements) consist of obligations of the Company to other parties. The obligations are secured by residential mortgage-backed securities held by the Company with a fair value of $40,412 and $51,701 at December 31, 2019 and December 31, 2018. The agreements are on a day-to-day basis and can be terminated on demand. The following table presents the borrowing usage and interest rate information for federal funds purchased and retail repurchase agreements at and for the years ended December 31, 2019 and 2018. 2019 2018 Average daily balance during the period $ 42,459 $ 43,536 Average interest rate during the period 0.36 % 0.25 % Maximum month-end balance during the period $ 45,575 $ 53,815 Weighted average interest rate at period-end 0.40 % 0.28 % Federal Home Loan Bank advances Federal Home Loan Bank advances as of December 31, 2019 and 2018 were as follows. 2019 2018 Federal Home Loan Bank line of credit advances $ 311,223 $ 368,770 Federal Home Loan Bank fixed rate term advances 13,095 16,049 Total principal outstanding 324,318 384,819 Federal Home Loan Bank fixed rate term advances, fair market value adjustments 55 79 Total Federal Home Loan Bank advances $ 324,373 $ 384,898 At December 31, 2019 and 2018, the Company had $311,223 and $368,770 drawn against its line of credit at a weighted average rate of 1.79% and 2.65%. At December 31, 2019 and 2018, the Company had undisbursed advance commitments (letters of credit) with the Federal Home Loan Bank of $38,500 and $31,451. These letters of credit were obtained in lieu of pledging securities to secure public fund deposits that are over the FDIC insurance limit. The advances, Mortgage Partnership Finance credit enhancement obligations and letters of credit were collateralized by certain qualifying loans totaling $811,394 and $951,196 at December 31, 2019 and 2018. Based on this collateral and the Company’s holdings of Federal Home Loan Bank stock, the Company was eligible to borrow an additional $448,278 and $534,627 at December 31, 2019 and 2018. Future principal repayments of the December 31, 2019 outstanding balances are as follows. Due in one year or less $ 314,211 Due after one year through two years 2,357 Due after two years through three years 2,357 Due after three years through four years 2,357 Due after four years through five years 1,857 Thereafter 1,179 Total $ 324,318 Bank stock loan On March 13, 2017, the Company entered into an agreement with an unaffiliated financial institution that provided for a maximum borrowing facility of $30,000, secured by the Company’s stock in Equity Bank. The borrowing facility was renewed on March 12, 2018, amended March 11, 2019 to provide a maximum borrowing facility of $40,000 and matures May 15, 2020. Each draw of funds on the facility will create a separate note that is repayable over a term of five years. Each note will bear interest at a variable interest rate equal to the prime rate published in the “Money Rates” section of The Wall Street Journal Bank stock loan advances as of December 31, 2019 and 2018 are listed below. December 31, 2019 Outstanding Balance Weighted Average Rate Bank stock loan $ 8,990 4.75 % December 31, 2018 Outstanding Balance Weighted Average Rate Bank stock loan $ 15,450 5.50 % Future principal repayments of the December 31, 2019 outstanding balances are as follows. Due in one year or less $ 1,774 Due after one year through two years 1,774 Due after two years through three years 1,774 Due after three years through four years 2,674 Due after four years through five years 994 Thereafter — Total $ 8,990 The terms of the borrowing facility require the Company and Equity Bank to maintain minimum capital ratios and other covenants. The Company believes it is in compliance with the terms of the borrowing facility and has not been otherwise notified of noncompliance. |
SUBORDINATED DEBENTURES
SUBORDINATED DEBENTURES | 12 Months Ended |
Dec. 31, 2019 | |
Brokers And Dealers [Abstract] | |
SUBORDINATED DEBENTURES | NOTE 12 – SUBORDINATED DEBENTURES In conjunction with the 2012 acquisition of First Community Bancshares, Inc. (FCB), the Company assumed certain subordinated debentures owed to special purpose unconsolidated subsidiaries that are controlled by the Company, FCB Capital Trust II and FCB Capital Trust III, (“CTII” and “CTIII”, respectively). On March 24, 2005, CTII, an unconsolidated subsidiary of the Company, issued $10,000 of variable rate trust preferred securities, all of which are outstanding at December 31, 2019 and 2018. The trust preferred securities issued by CTII accrue and pay distributions quarterly at three-month LIBOR plus 2.00% (3.99% at December 31, 2019 and 4.44% at December 31, 2018) on the stated liquidation amount of the trust preferred securities. As an integral part of the acquisition of FCB, the Company has guaranteed fully and unconditionally all of the obligations of CTII. The guaranty covers the quarterly distributions and payments on liquidation or redemption of the trust preferred securities. These trust preferred securities are mandatorily redeemable upon maturity on April 15, 2035 or upon earlier redemption. The Company has the right to redeem the trust preferred securities in whole or in part, on or after April 15, 2015 at a redemption price specified in the indenture plus any accrued but unpaid interest to the redemption date. The proceeds from the sale of the trust preferred securities and the issuance of $310 in common securities to FCB were used by CTII to purchase $10,310 of floating rate subordinated debentures of FCB which have the same payment terms as the trust preferred securities. On March 30, 2007, CTIII, an unconsolidated subsidiary of the Company, issued $5,000 of variable rate trust preferred securities, all of which are outstanding at December 31, 2019 and 2018. The trust preferred securities issued by CTIII accrue and pay distributions quarterly at three-month LIBOR plus 1.89% (3.78% at December 31, 2019, and 4.68% at December 31, 2018) on the stated liquidation amount of the trust preferred securities. As an integral part of the acquisition of FCB, the Company has guaranteed fully and unconditionally all of the obligations of CTIII. The guaranty covers the quarterly distributions and payments on liquidation or redemption of the trust preferred securities. These trust preferred securities are mandatorily redeemable upon maturity on June 15, 2037 or upon earlier redemption. The Company has the right to redeem the trust preferred securities in whole or in part at a redemption price specified in the indenture plus any accrued but unpaid interest to the redemption date. The proceeds from the sale of the trust preferred securities and the issuance of $155 in common securities to FCB were used by CTIII to purchase $5,155 of floating rate subordinated debentures of FCB which have the same payment terms as the trust preferred securities. In conjunction with the 2016 acquisition of Community First Bancshares, Inc. (CFBI), the Company assumed certain subordinated debentures owed to a special purpose unconsolidated subsidiary, Community First (AR) Statutory Trust I, (“CFSTI”). The trust preferred securities issued by CFSTI accrue and pay distributions quarterly at three-month LIBOR plus 3.25% (5.20% at December 31, 2019 and 6.07% at December 31, 2018) on the stated liquidation amount of the trust preferred securities. These trust preferred securities are mandatorily redeemable upon maturity on December 26, 2032 or upon earlier redemption. The common securities issued to the Company by the trusts possess sole voting rights with respect to matters involving those entities. The Company has the right to defer the payment of interest on all of its outstanding trust preferred securities. The Company has the right to declare such a deferral for up to 20 consecutive quarterly periods and deferral may only be declared as long as the Company is not then in default under the provisions of the Amended and Restated Trust Agreements. During the deferral period, interest on the indebtedness continues to accrue and the unpaid interest is compounded. As long as the deferral period continues, the Company is prohibited from: (i) declaring or paying any dividend on any of its capital stock, which would include both its common stock and the outstanding preferred stock issued to the Treasury, or (ii) making any payment on any debt security that is ranked equally with or junior to the securities issued by the trust. As a part of the acquisition of FCB, the Company recorded the debentures at an estimated fair value of $8,270. As part of the acquisition of CFBI, the Company recorded the debentures at an estimated fair value of $4,187. The initial fair value adjustments will be amortized against earnings on a prospective basis. At December 31, 2019 and 2018, the contractual balance and the unamortized fair value adjustments were as shown below. 2019 2018 Contractual balance $ 20,620 $ 20,620 Unamortized fair value adjustment (6,059 ) (6,360 ) Net book value $ 14,561 $ 14,260 Subordinated debentures are included in Tier 1 capital for purposes of determining the Company’s compliance with regulatory capital requirements. |
CONTRACTUAL OBLIGATIONS
CONTRACTUAL OBLIGATIONS | 12 Months Ended |
Dec. 31, 2019 | |
Commitments And Contingencies Disclosure [Abstract] | |
CONTRACTUAL OBLIGATIONS | NOTE 13 – CONTRACTUAL OBLIGATIONS At December 31, 2019 and 2018, the Company had contractual obligations of $5,836 and $3,965. Contractual obligations represent commitments made by the Company to make capital investments in limited-liability entities that invest in qualified affordable housing projects. The Company expects to fulfill these commitments during the years 2020 through 2034. |
STOCKHOLDERS' EQUITY
STOCKHOLDERS' EQUITY | 12 Months Ended |
Dec. 31, 2019 | |
Equity [Abstract] | |
STOCKHOLDERS' EQUITY | NOTE 14 – STOCKHOLDERS’ EQUITY Preferred Stock The Company’s articles of incorporation provide for the issuance of shares of preferred stock. There were no shares of preferred stock outstanding at December 31, 2019, 2018 or 2017. Common stock The Company’s articles of incorporation provide for the issuance of 45,000,000 shares of Class A voting common stock (“Class A common stock”) and 5,000,000 shares of Class B non-voting common stock (“Class B common stock”), both of which have a par value of $0.01 per share. At December 31, 2019 and 2018, the following table presents shares that were issued and were held in treasury or were outstanding. 2019 2018 Class A common stock – issued 17,136,493 17,244,138 Class A common stock – held in treasury (1,692,059 ) (1,271,043 ) Class A common stock – outstanding 15,444,434 15,973,095 Class B common stock – issued 234,903 234,903 Class B common stock – held in treasury (234,903 ) (234,903 ) Class B common stock – outstanding — — Treasury stock is stated at cost, determined by the first-in, first-out method. On April 18, 2019, the Company’s Board of Directors authorized the repurchase of up to 1,100,000 shares of the Company’s outstanding common stock, from time to time, beginning April 29, 2019 and concluding October 30, 2020. The repurchase program does not obligate the Company to acquire a specific dollar amount or number of shares and it may be extended, modified or discontinued at any time without notice. Under this program, during the year ended December 31, 2019, the Company repurchased a total of 421,016 shares of the Company’s outstanding common stock at an average price paid of $25.81 per share. On May 4, 2018, the Company completed its mergers with Kansas Banking Corporation (“KBC”), of Liberal, Kansas, and Adams Dairy Bancshares, Inc. (“Adams”) of Blue Springs, Missouri. There was a total of 820,849 shares of Class A common stock issued in connection with the KBC merger and 344,063 shares of Class A common stock issued in connection with the Adams merger. Restricted stock unit plan termination loans In connection with termination of the Company’s restricted stock unit plan (“RSUP”), 203,216 shares of Class A common stock were issued in May 2015 to employees with vested restricted stock units. Additional paid-in capital includes $224 of tax benefits in excess of those previously provided in connection with stock compensation expense. Also in connection with the termination of the RSUP, the Company agreed to loan electing participants an amount equal to each participant’s federal and state income tax withholding obligation associated with the stock issuance. These loans totaling $77 at December 31, 2019, are collateralized by the shares received with a maturity date of December 31, 2020, and an interest rate of 1.60%. Accumulated other comprehensive income (loss) For the years ended December 31, 2019 and 2018, accumulated other comprehensive income consisted of (i) the after-tax effect of unrealized gains (losses) on available-for-sale securities and (ii) the after-tax effect of unamortized unrealized gains (losses) on securities transferred from the available-for-sale designation to the held-to-maturity designation. During 2019, 2018 and 2017, gains of $0, $0 and $271 were reclassified from accumulated other comprehensive income to net gains on sales of and settlement of securities within the consolidated statement of income and $903, $453 and $532 of accretion expense were reclassified from accumulated other comprehensive income to taxable interest income on securities within the consolidated statement of income. Components of accumulated other comprehensive income as of December 31, 2019 and 2018 were as follows. Available -for-Sale Securities Held-to -Maturity Securities Accumulated Other Comprehensive Income December 31, 2019 Net unrealized or unamortized gains (losses) $ 985 $ (988 ) $ (3 ) Tax effect (248 ) 248 — $ 737 $ (740 ) $ (3 ) December 31, 2018 Net unrealized or unamortized gains (losses) $ (4,628 ) $ (1,891 ) $ (6,519 ) Tax effect 1,173 479 1,652 $ (3,455 ) $ (1,412 ) $ (4,867 ) |
INCOME TAXES
INCOME TAXES | 12 Months Ended |
Dec. 31, 2019 | |
Income Tax Disclosure [Abstract] | |
INCOME TAXES | NOTE 15 – INCOME TAXES Income tax expense is listed in the following table. 2019 2018 2017 Current income tax expense Federal $ 4,066 $ 4,655 $ 6,474 State 1,649 2,212 1,282 Total current income tax expense 5,715 6,867 7,756 Deferred income tax expense Federal 1,444 2,933 2,550 State 119 550 71 Total deferred income tax expense 1,563 3,483 2,621 Total income tax expense $ 7,278 $ 10,350 $ 10,377 A reconciliation of income tax expense at the U.S. federal statutory rate (21% in 2019 and 2018; 35% in 2017) to the Company’s actual income tax expense is shown below. 2019 2018 2017 Computed at the statutory rate $ 6,900 $ 9,697 $ 10,862 Increase (decrease) resulting from: State and local taxes, net of federal benefit 1,422 1,909 717 Tax-exempt interest (885 ) (844 ) (1,177 ) Non-taxable life insurance income (419 ) (462 ) (506 ) Non-deductible expenses 353 264 376 Share-based payments 18 (23 ) (335 ) Federal tax credits (636 ) (568 ) (660 ) Change in valuation allowance 396 655 187 Effect of tax reform — — 1,086 Other 129 (278 ) (173 ) Income tax expense $ 7,278 $ 10,350 $ 10,377 On December 22, 2017, Tax Reform was enacted which reduced the U.S. federal statutory income tax rate from 35% to 21% effective January 1, 2018. The Company accounted for the effects of Tax Reform in the period of enactment as required by generally accepted accounting principles using reasonable estimates based on information available in December 2017. The Company completed its accounting for the effects of Tax Reform in 2018, and no additional income tax expense was recorded. The direct impact to the 2017 financial statements was the re-measurement of the Company’s December 31, 2017, deferred tax assets and liabilities which were expected to reverse beginning in 2018. The re-measurement of the Company’s net deferred tax asset resulted in $1,086 additional income tax expense being recognized in 2017, including a $535 decrease in the net deferred tax assets related to unrealized or unamortized losses on securities. The impact of this re-measurement is included in the statutory rate reconciliation above. With the exception of the revaluation adjustment required by Tax Reform, the deferred tax effects of unrealized or unamortized gains and losses on debt securities are recorded directly to stockholders’ equity as part of other comprehensive income. Components of deferred tax assets and liabilities are shown in the table below. 2019 2018 Deferred tax assets Allowance for loan losses $ 3,076 $ 2,880 Net unrealized or unamortized losses on securities 1 1,639 Tax credit carryforwards 974 974 Accrued compensation 2,209 1,994 Net operating loss carryforwards 1,337 1,003 Other real estate owned 481 656 Acquired loans fair market value adjustments 2,560 4,058 Other 1,153 1,072 Gross deferred tax assets 11,791 14,276 Deferred tax liabilities Assumed debt fair market value adjustments 1,464 1,537 Goodwill amortization 1,871 1,492 Depreciation 3,934 3,288 Federal Home Loan Bank stock dividends 267 1,123 Core deposit intangibles 3,616 4,293 Other 981 283 Gross deferred tax liabilities 12,133 12,016 Valuation allowance (1,623 ) (1,227 ) Net deferred tax asset (liability) $ (1,965 ) $ 1,033 Deferred income tax balances reflect the effects of temporary differences between the carrying amounts of assets and liabilities and their tax basis and are stated at enacted tax rates expected to be in effect when taxes are actually paid or recovered. In 2019, the Company recognized deferred tax liabilities of $21 for temporary differences associated with the MidFirst bank acquisition. In 2018, the Company recognized deferred tax assets of $2,522 and deferred tax liabilities of $2,190 for temporary differences associated with the KBC merger and deferred tax assets of $1,134 and deferred tax liabilities of $518 for temporary differences associated with the Adams merger. Deferred tax assets of $34 were recognized in connection with the CBT merger. Federal net operating losses, acquired through previous acquisitions, totaled $196 at December 31, 2019 and will expire between 2031 and 2033. Acquired federal tax credits totaling $974 will expire between 2027 and 2033. The utilization of these net operating loss and tax credit carryforwards are not expected to be limited by internal revenue code sections 382 and 383. The Company and its subsidiaries are subject to U.S. federal income tax as well as income tax of the states of Arkansas, Kansas, Missouri, Oklahoma and Iowa. Commercial banks are not allowed to file consolidated Kansas returns with non-bank consolidated group members. The Company has unused state operating loss carryforwards of approximately $30,254 that expire between 2020 and 2029 resulting from the separate Kansas returns of the Company and SA Holdings, Inc. These operating losses, as well as certain deferred tax assets, have a full valuation allowance recorded against them resulting in a zero carrying value. In connection with a 2015 acquisition, the Company acquired Kansas net operating losses useable against Kansas bank income. At December 31, 2019, the Kansas net operating loss carryforward useable against Kansas bank income totaled $2,469 with expiration dates between 2020 and 2024. The utilization of this acquired Kansas net operating loss carryforward is expected to be limited, and a valuation allowance has been recorded against the portion which is expected to expire unused. In establishing a valuation allowance management considers whether it is more likely than not that some or all of the deferred tax assets will not be realized. The Company is no longer subject to examination by taxing authorities for years before 2016. At December 31, 2019, there were no examinations in any jurisdiction. |
REGULATORY MATTERS
REGULATORY MATTERS | 12 Months Ended |
Dec. 31, 2019 | |
Banking And Thrift [Abstract] | |
REGULATORY MATTERS | NOTE 16 – REGULATORY MATTERS Banks and bank holding companies are subject to regulatory capital requirements administered by federal banking agencies. Capital adequacy guidelines and, additionally for banks, prompt corrective action regulations, involve quantitative measures of assets, liabilities, and certain off-balance-sheet items calculated under regulatory accounting practices. Capital amounts and classifications are also subject to qualitative judgments by regulators. Failure to meet capital requirements can initiate regulatory action. The final rules implementing the Basel Committee on Banking Supervision’s capital guidelines for U.S. banks (Basel III rules) became effective for the Company on January 1, 2015, with full compliance with all of the requirements being phased in over a multi-year schedule, and fully phased in January 1, 2019. The Basel III rules also require banks to maintain a Common Equity Tier 1 capital ratio of 6.5%, a total Tier 1 capital ratio of 8%, a total capital ratio of 10% and a leverage ratio of 5% to be deemed “well capitalized” for purposes of certain rules and prompt corrective action requirements. The risk-based ratios include a “capital conservation buffer” of 2.5%. The new capital conservation buffer requirement was to be phased in beginning January 2016 at 0.625% of risk-weighted assets and increased by that amount each year until fully implemented January 2019. An institution is subject to limitations on certain activities, including payment of dividends, share repurchases and discretionary bonuses to executive officers, if its capital level is below the buffer amount. Management believes as of December 31, 2019, the Company and Bank meet all capital adequacy requirements to which they are subject. Prompt corrective action regulations provide five classifications: well capitalized, adequately capitalized, undercapitalized, significantly undercapitalized and critically undercapitalized, although these terms are not used to represent overall financial condition. If adequately capitalized, regulatory approval is required to accept brokered deposits. If undercapitalized, capital distributions are limited, as are asset growth and acquisitions and capital restoration plans are required. As of December 31, 2019, the most recent notifications from the federal regulatory agencies categorized Equity Bank as well capitalized under the regulatory framework for prompt corrective action. To be categorized as well capitalized, Equity Bank must maintain minimum total risk-based, Tier 1 risk-based and Tier 1 leverage ratios as set forth in the table. There are no conditions or events since that notification that management believes have changed Equity Bank’s category. The Company’s and Equity Bank’s capital amounts and ratios at December 31, 2019 and 2018 are presented in the tables below. Ratios provided for Equity Bancshares, Inc. represent the ratios of the Company on a consolidated basis. Actual Minimum Required for Capital Adequacy Under Basel III Phase-In Minimum Required for Capital Adequacy Under Basel III Fully Phased-In To Be Well Capitalized Under Prompt Corrective Provisions Amount Ratio Amount Ratio Amount Ratio Amount Ratio December 31, 2019 Total capital to risk weighted assets Equity Bancshares, Inc. $ 352,853 12.59 % $ 294,341 10.50 % $ 294,341 10.50 % $ N/A N/A Equity Bank 348,951 12.47 % 293,917 10.50 % 293,917 10.50 % 279,921 10.00 % Tier 1 capital to risk weighted assets Equity Bancshares, Inc. 340,621 12.15 % 238,276 8.50 % 238,276 8.50 % N/A N/A Equity Bank 336,719 12.03 % 237,933 8.50 % 237,933 8.50 % 223,937 8.00 % Common equity Tier 1 capital to risk weighted assets Equity Bancshares, Inc. 326,060 11.63 % 196,227 7.00 % 196,227 7.00 % N/A N/A Equity Bank 336,719 12.03 % 195,945 7.00 % 195,945 7.00 % 181,949 6.50 % Tier 1 leverage to average assets Equity Bancshares, Inc. 340,621 9.02 % 151,072 4.00 % 151,072 4.00 % N/A N/A Equity Bank 336,719 8.92 % 150,943 4.00 % 150,943 4.00 % 188,679 5.00 % Actual Minimum Required for Capital Adequacy Under Basel III Phase-In Minimum Required for Capital Adequacy Under Basel III Fully Phased-In To Be Well Capitalized Under Prompt Corrective Provisions Amount Ratio Amount Ratio Amount Ratio Amount Ratio December 31, 2018 Total capital to risk weighted assets Equity Bancshares, Inc. $ 337,649 11.86 % $ 281,222 9.88 % $ 299,021 10.50 % $ N/A N/A Equity Bank 338,180 11.89 % 280,845 9.88 % 298,619 10.50 % 284,400 10.00 % Tier 1 capital to risk weighted assets Equity Bancshares, Inc. 326,195 11.45 % 224,266 7.88 % 242,065 8.50 % N/A N/A Equity Bank 326,726 11.49 % 223,965 7.88 % 241,740 8.50 % 227,520 8.00 % Common equity Tier 1 capital to risk weighted assets Equity Bancshares, Inc. 311,935 10.95 % 181,548 6.38 % 199,347 7.00 % N/A N/A Equity Bank 326,726 11.49 % 181,305 6.38 % 199,080 7.00 % 184,860 6.50 % Tier 1 leverage to average assets Equity Bancshares, Inc. 326,195 8.60 % 151,731 4.00 % 151,731 4.00 % N/A N/A Equity Bank 326,726 8.62 % 151,590 4.00 % 151,590 4.00 % 189,488 5.00 % Equity Bank is subject to certain restrictions on the amount of dividends that it may declare without prior regulatory approval. |
RELATED-PARTY TRANSACTIONS
RELATED-PARTY TRANSACTIONS | 12 Months Ended |
Dec. 31, 2019 | |
Related Party Transactions [Abstract] | |
RELATED-PARTY TRANSACTIONS | NOTE 17 – RELATED PARTY TRANSACTIONS At December 31, 2019 and 2018, the Company had loans outstanding to executive officers, directors, significant stockholders, and their affiliates (related parties), in the amount of $2,030 and $2,267. Changes during 2019 are listed below. 2019 Balance at January 1, 2019 $ 2,267 New loans/advances 762 Repayments (999 ) Balance at December 31, 2019 $ 2,030 At December 31, 2019 and 2018, the Company had deposits from executive officers, directors, significant stockholders, and their affiliates (related parties), in the amount of $6,894 and $6,127. |
EMPLOYEE BENEFITS
EMPLOYEE BENEFITS | 12 Months Ended |
Dec. 31, 2019 | |
Compensation And Retirement Disclosure [Abstract] | |
EMPLOYEE BENEFITS | NOTE 18 – EMPLOYEE BENEFITS The Company has a defined contribution profit sharing plan and a retirement savings 401(k) plan covering substantially all employees. Employees may contribute up to $19 of their compensation. Contributions to the profit-sharing plan and 401(k) plan are discretionary and are determined annually by the Board of Directors. Employer contributions charged to expense for 2019, 2018 and 2017 were $826, $885 and $704. As a result of the acquisition of First Independence, the Company assumed the obligations related to First Independence’s participation in the Pentegra Defined Benefit Plan for Financial Institutions, a tax-qualified defined benefit pension plan. The Pentegra Defined Benefit Plan is treated as a multi-employer plan for accounting purposes but operates as a multiple-employer plan under the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code. As a result, certain multi-employer plan disclosures are not applicable to the Pentegra Defined Benefit Plan. Under the Pentegra Defined Benefit Plan, contributions made by a participating employer may be used to provide benefits to employees of other participating employers because assets contributed by an employer are not segregated in a separate account or restricted to provide benefits only to employees of that employer. Also, in the event a participating employer is unable to meet its contribution requirements, the required contributions for the other participating employers could increase proportionately. The Pentegra Defined Benefit Plan covered substantially all officers and employees of First Independence who began employment prior to December 31, 2009, with 54 participants retaining benefits under the plan. The Pentegra Defined Benefit Plan operates on a fiscal year from July 1 through June 30 and files one Form 5500 on behalf of all employers who participate in the plan. The Employer Identification Number is 13-5645888 and the three-digit plan number is 333. There are no collective bargaining agreements in place at the Company. The Pentegra Defined Benefit Plan’s annual valuation process includes calculating the plan’s funded status and separately calculating the funded status of each participating employer. The funded status is defined as the market value of assets divided by the funding target (100 percent of the present value of all benefit liabilities accrued at that date). As permitted by ERISA, the Pentegra Defined Benefit Plan accepts contributions for the prior plan year up to eight and a half months after the asset valuation date. As a result, the fair value of assets at the valuation date (July 1) will increase by any subsequent contributions designated for the immediately preceding plan year ended June 30. The most recent Form 5500 available for the Pentegra Defined Benefit Plan is for the year ended June 30, 2018. The following table presents the net pension cost and funded status of the Company relating to the Pentegra Defined Benefit Plan since the date of acquisition (dollar amounts in thousands). 2019 2018 Net pension cost charged to salaries and employee benefits $ 142 $ 113 Pentegra defined benefit plan funded status as of July 1 108.59 % 109.86 % Plan's funded status as of July 1 91.40 % 94.30 % Contributions paid to the plan $ 109 $ 93 The Company’s contributions to the Pentegra Defined Benefit Plan were less than 5.00% of the total contributions to the Pentegra Defined Benefit plan for the plan year ended June 30, 2018. |
SHARE-BASED PAYMENTS
SHARE-BASED PAYMENTS | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
SHARE-BASED PAYMENTS | NOTE 19 – SHARE-BASED PAYMENTS The Company’s Amended and Restated 2013 Stock Incentive Plan (the Plan) reserved 1,500,000 shares for the grant of non-qualified stock options, restricted stock units, restricted stock and unrestricted stock to its employees and directors. The Plan replaced the 2006 Non-qualified Stock Option Plan (2006 Plan). Under the 2006 Plan, there were 150,000 and 150,000 fully vested and exercisable options outstanding at December 31, 2019 and 2018. No new grants of options may be made under the 2006 Plan. The Company believes that stock-based awards better align the interests of its employees with those of its stockholders. Under the Company’s 2019 director compensation policy, the directors receive a portion of their compensation in stock. The Company recognized expense of $160 and issued 9,104 shares for the year ended December 31, 2019. For years prior to 2019, the directors could elect to receive all or a portion of their fees in cash, Company stock or non-qualified stock options. During the years ended December 31, 2018 and 2017, the Company recognized director compensation expense of $53 and $46 and issued 1,375 and 1,457 shares of Company stock pursuant to certain directors’ elections. At December 31, 2019, there were 572,745 shares available for equity awards under the Plan. Stock Option Awards The following tables summarize stock option activity for the years ended December 31, 2019 and 2018. December 31, 2019 Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term (Years) Aggregate Intrinsic Value Outstanding at beginning of year 852,556 $ 23.57 7 $ 10,044 Granted 61,019 32.43 10 — Exercised (20,402 ) (18.22 ) (6 ) — Forfeited or expired (107,415 ) (32.56 ) (9 ) — Outstanding at end of year 785,758 $ 23.17 6 $ 6,896 Fully vested and expected to vest 785,758 $ 23.17 6 $ 6,896 Exercisable at end of year 609,323 $ 20.45 5 $ 6,797 December 31, 2018 Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term (Years) Aggregate Intrinsic Value Outstanding at beginning of year 797,521 $ 22.54 8 $ 10,261 Granted 99,935 34.69 10 — Exercised (6,800 ) (19.49 ) (8 ) — Forfeited or expired (38,100 ) (31.97 ) (10 ) — Outstanding at end of year 852,556 $ 23.57 7 $ 10,044 Fully vested and expected to vest 852,556 $ 23.57 7 $ 10,044 Exercisable at end of year 565,847 $ 19.44 4 $ 8,995 The fair values of stock options granted during the years ended December 31, 2019, 2018 and 2017, were estimated to be $7.10 per share, $9.01 per share and $8.75 per share. The fair value of each option award is estimated on the date of grant using a closed form option valuation (Black-Scholes) model. Expected stock price volatility is based on the historical volatility of the SNL Bank Index. The expected term of options granted is based on the Simplified Method. The risk-free interest rate for the expected term of the option is based on the U.S. Treasury yield curve in effect at the time of the grant. The fair values of options granted were determined using the following weighted-average assumptions as of grant dates. 2019 2018 2017 Risk free rate 2.52 % 2.45 % 2.20 % Market value of stock on grant date $ 32.43 $ 34.69 $ 33.05 Expected term (in years) 5.8 6.3 6.7 Expected volatility 15.71 % 19.71 % 19.66 % Dividend rate — % — % — % Compensation expense for stock options is recognized as the options vest. Total stock option compensation cost that has been charged against income was $520, $813, and $592 for 2019, 2018 and 2017. The total income tax benefit was $131, $205 and $226. At December 31, 2019, there was $1.1 million of unrecognized compensation expense related to non-vested stock options granted under the Plan. Unrecognized compensation expense at December 31, 2019, will be recognized over a remaining weighted average period of 6 years. Restricted Stock Unit Awards A summary of changes in the Company’s non-vested RSUs for the year is shown below. Non-vested Restricted Stock Units Shares Weighted Average Grant Date Fair Value Non-vested RSUs at January 1, 2019 132,107 $ 36.78 Granted 102,995 32.01 Vested (23,628 ) 36.29 Forfeited (24,024 ) 34.14 Outstanding at end of year 187,450 $ 34.56 Compensation expense is recognized over the vesting period of the award based on the fair value of RSU awards at the grant date. The Company recognized share-based compensation attributable to RSUs of $1,991, $1,643 and $80 for the years ended December 31, 2019, 2018 and 2017. The total income tax benefit was $501, $413 and $31 for the same time periods. Unrecognized RSU compensation expense of $4.1 million at December 31, 2019, will be recognized over a remaining weighted average period of 2 years. Employee Stock Purchase Plan On January 27, 2019, the Company’s Board of Directors adopted the Equity Bancshares, Inc. 2019 Employee Stock Purchase Plan (“ESPP”) and reserved 500,000 shares of common stock for issuance. The ESPP was approved by the Company’s stockholders on April 24, 2019. The ESPP enables eligible employees to purchase the Company’s common stock at a price per share equal to 85% of the lower of the fair market value of the common stock at the beginning or end of each offering period. The first offering period began on February 15, 2019 and ended on August 14, 2019. In connection with the first offering, a total of 19,221 shares were purchased at a price of $21.07 per share. The second offering period began on August 15, 2019 and will end February 14, 2020. ESPP compensation expense of $119 was recorded during 2019. |
EARNINGS PER SHARE
EARNINGS PER SHARE | 12 Months Ended |
Dec. 31, 2019 | |
Earnings Per Share [Abstract] | |
EARNINGS PER SHARE | NOTE 20 – EARNINGS PER SHARE Earnings per share were computed as shown below. 2019 2018 2017 Basic: Net income allocable to common stockholders $ 25,579 $ 35,825 $ 20,649 Weighted average common shares outstanding 15,618,690 15,389,513 12,446,851 Weighted average vested restricted stock units 1,201 4,403 1,751 Weighted average shares 15,619,891 15,393,916 12,448,602 Basic earnings per common share $ 1.64 $ 2.33 $ 1.66 Diluted: Net income allocable to common stockholders $ 25,579 $ 35,825 $ 20,649 Weighted average common shares outstanding for: Basic earnings per common share 15,619,891 15,393,916 12,448,602 Dilutive effects of the assumed exercise of stock options 201,409 293,588 255,947 Dilutive effects of the assumed redemption of RSUs 21,839 20,882 2,635 Average shares and dilutive potential common shares 15,843,139 15,708,386 12,707,184 Diluted earnings per common share $ 1.61 $ 2.28 $ 1.62 Average outstanding stock options and RSU’s of 310,960, 26,419 and 141,891 for the years ended December 31, 2019, 2018 and 2017 were not included in the computation of diluted earnings per share because they were antidilutive. |
FAIR VALUE
FAIR VALUE | 12 Months Ended |
Dec. 31, 2019 | |
Fair Value Disclosures [Abstract] | |
FAIR VALUE | NOTE 21 – FAIR VALUE The Company uses fair value measurements to record fair value adjustments to certain assets and liabilities and to disclose the fair value of its financial instruments. Fair value is the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. For disclosure purposes, the Company groups its financial and non-financial assets and liabilities into three different levels based on the nature of the instrument and the availability and reliability of the information that is used to determine fair value. The three levels of inputs that may be used to measure fair values are defined as follows. Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. Level 2: Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. Level 3: Significant unobservable inputs that reflect a reporting entity’s own assumptions about the assumptions that market participants would use in pricing an asset or liability. Level 1 inputs are considered to be the most transparent and reliable. The Company assumes the use of the principal market to conduct a transaction of each particular asset or liability being measured and then considers the assumptions that market participants would use when pricing the asset or liability. Whenever possible, the Company first looks for quoted prices for identical assets or liabilities in active markets (Level 1 inputs) to value each asset or liability. However, when inputs from identical assets or liabilities on active markets are not available, the Company utilizes market observable data for similar assets and liabilities. The Company maximizes the use of observable inputs and limits the use of unobservable inputs to occasions when observable inputs are not available. The need to use unobservable inputs generally results from the lack of market liquidity of the actual financial instrument or of the underlying collateral. Although, in some instances, third party price indications may be available, limited trading activity can challenge the implied value of those quotations. The following is a description of the valuation methodologies used for assets and liabilities measured at fair value, as well as the general classification of each instrument under the hierarchy. Fair Value of Assets and Liabilities Measured on a Recurring Basis The fair values of available-for-sale securities are carried at fair value on a recurring basis. To the extent possible, observable quoted prices in an active market are used to determine fair value and, as such, these securities are classified as Level 1. For securities where quoted prices are not available, fair values are calculated based on market prices of similar securities, generally determined by matrix pricing, which is a mathematical technique widely used in the industry to value securities without relying exclusively on quoted prices for the specific securities but rather by relying on the securities’ relationship to other benchmark quoted securities (Level 2 inputs). The Company’s available-for-sale securities includes residential mortgage-backed securities (all of which are issued or guaranteed by government sponsored agencies) and are classified as Level 2. The fair values of derivatives are determined based on a valuation pricing model using readily available observable market parameters such as interest rate yield curves (Level 2 inputs) adjusted for credit risk attributable to the seller of the derivative. Assets and liabilities measured at fair value on a recurring basis are summarized below. December 31, 2019 (Level 1) (Level 2) (Level 3) Assets: Available-for-sale securities: Residential mortgage-backed securities (issued by government-sponsored entities) $ — $ 142,067 $ — Derivative assets: Derivative assets (included in other assets) — 3,535 — Cash collateral held by counterparty and netting adjustments 182 — — Total derivative assets 182 3,535 — Other assets: Equity securities with readily determinable fair value 489 — — Total other assets 489 — — Total assets $ 671 $ 145,602 $ — Liabilities: Derivative liabilities: Derivative liabilities (included in other liabilities) $ — $ 4,076 $ — Cash collateral held by counterparty and netting adjustments (4,004 ) — — Total derivative liabilities (4,004 ) 4,076 — Total liabilities $ (4,004 ) $ 4,076 $ — December 31, 2018 (Level 1) (Level 2) (Level 3) Assets: Available-for-sale securities: Residential mortgage-backed securities (issued by government-sponsored entities) $ — $ 168,875 $ — Derivative assets: Derivative assets (included in other assets) — 933 — Cash collateral held by counterparty and netting adjustments (242 ) — — Total derivative assets (242 ) 933 — Other assets: Equity securities with readily determinable fair value 475 — — Total other assets 475 — — Total assets $ 233 $ 169,808 $ — Liabilities: Derivative liabilities: Derivative liabilities (included in other liabilities) $ — $ 777 $ — Cash collateral held by counterparty and netting adjustments (252 ) — — Total derivative liabilities (252 ) 777 — Total liabilities $ (252 ) $ 777 $ — There were no transfers between Levels during 2019 or 2018. The Company’s policy is to recognize transfers into or out of a level as of the end of a reporting period. Fair Value of Assets and Liabilities Measured on a Non-recurring Basis Certain assets are measured at fair value on a non-recurring basis when there is evidence of impairment. The fair values of impaired loans with specific allocations of the allowance for loan losses are generally based on recent real estate appraisals of the collateral. Declines in the fair values of other real estate owned subsequent to their initial acquisitions are also based on recent real estate appraisals less selling costs. Real estate appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. Adjustments are routinely made in the appraisal process by the appraisers to adjust for differences between the comparable sales and income data available. Such adjustments are typically significant and result in a Level 3 classification of the inputs for determining fair value. Assets measured at fair value on a non-recurring basis are summarized below. December 31, 2019 (Level 1) (Level 2) (Level 3) Impaired loans: Commercial real estate $ — $ — $ 2,411 Commercial and industrial — — 15,688 Residential real estate — — 2,920 Agricultural real estate — — 866 Other — — 1,549 Other real estate owned: Commercial real estate — — 1,268 Residential real estate — — 42 December 31, 2018 (Level 1) (Level 2) (Level 3) Impaired loans: Commercial real estate $ — $ — $ 6,212 Commercial and industrial — — 1,697 Residential real estate — — 4,123 Agricultural real estate — — 218 Other — — 809 Other real estate owned: Commercial real estate — — 1,391 Residential real estate — — 97 The Company did not record any liabilities for which the fair value was measured on a non-recurring basis during the years ended December 31, 2019 and 2018. Valuations of impaired loans and other real estate owned utilize third party appraisals or broker price opinions and are classified as Level 3 due to the significant judgment involved. Appraisals may include the utilization of unobservable inputs, subjective factors and utilize quantitative data to estimate fair market value. The following table presents additional information about the unobservable inputs used in the fair value measurement of financial assets measured on a nonrecurring basis that were categorized with Level 3 of the fair value hierarchy. Fair Value Valuation Technique Unobservable Input Range (weighted average) December 31, 2019 Impaired real estate loans $ 9,173 Sales Comparison Approach Adjustments for differences between comparable sales 3% - 12% (8%) Impaired other loans $ 14,261 Multiple of Earnings Multiples of earnings for comparable entities 4.5X - 5.5X (5.0X) Impaired other real estate owned $ 1,310 Sales Comparison Approach Adjustments for differences between comparable sales 10% - 55% (32%) December 31, 2018 Impaired loans $ 13,059 Sales Comparison Approach Adjustments for differences between comparable sales 4% - 22% (13%) Measurable inputs for other real estate owned were not material for the period ended December 31, 2018. Carrying amounts and estimated fair values of financial instruments at year end were as follows as of the date indicated. December 31, 2019 Carrying Amount Estimated Fair Value Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 89,291 $ 89,291 $ 89,291 $ — $ — Interest-bearing deposits 2,498 2,498 — 2,498 — Available-for-sale securities 142,067 142,067 — 142,067 — Held-to-maturity securities 769,059 783,911 — 783,911 — Loans held for sale 5,933 5,933 — 5,933 — Loans, net of allowance for loan losses 2,544,420 2,538,209 — — 2,538,209 Federal Reserve Bank and Federal Home Loan Bank stock 31,137 N/A N/A N/A N/A Interest receivable 15,738 15,738 — 15,738 — Derivative assets 3,535 3,535 — 3,535 — Cash collateral held by derivative counterparty and netting adjustments 182 182 182 — — Total derivative assets 3,717 3,717 182 3,535 — Equity securities with readily determinable fair value 489 489 489 — — Total assets $ 3,604,349 $ 3,581,853 $ 89,962 $ 953,682 $ 2,538,209 Financial liabilities: Deposits $ 3,063,516 $ 3,070,305 $ — $ 3,070,305 $ — Federal funds purchased and retail repurchase agreements 35,708 35,708 — 35,708 — Federal Home Loan Bank advances 324,373 324,373 — 324,373 — Bank stock loan 8,990 8,990 — 8,990 — Subordinated debentures 14,561 14,561 — 14,561 — Contractual obligations 5,836 5,836 — 5,836 — Interest payable 4,454 4,454 — 4,454 — Derivative liabilities 4,076 4,076 — 4,076 — Cash collateral held by derivative counterparty and netting adjustments (4,004 ) (4,004 ) (4,004 ) — — Total derivative liabilities 72 72 (4,004 ) 4,076 — Total liabilities $ 3,457,510 $ 3,464,299 $ (4,004 ) $ 3,468,303 $ — December 31, 2018 Carrying Amount Estimated Fair Value Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 192,818 $ 192,818 $ 192,818 $ — $ — Interest-bearing deposits 4,991 4,991 — 4,991 — Available-for-sale securities 168,875 168,875 — 168,875 — Held-to-maturity securities 748,356 739,989 — 739,989 — Loans held for sale 2,972 2,972 — 2,972 — Loans, net of allowance for loan losses 2,563,954 2,565,526 — — 2,565,526 Federal Reserve Bank and Federal Home Loan Bank stock 29,214 N/A N/A N/A N/A Interest receivable 17,372 17,372 — 17,372 — Derivative assets 933 933 — 933 — Cash collateral held by derivative counterparty and netting adjustments (242 ) (242 ) (242 ) — — Total derivative assets 691 691 (242 ) 933 — Equity securities with readily determinable fair value 475 475 475 — — Total assets $ 3,729,718 $ 3,693,709 $ 193,051 $ 935,132 $ 2,565,526 Financial liabilities: Deposits $ 3,123,447 $ 3,124,654 $ — $ 3,124,654 $ — Federal funds purchased and retail repurchase agreements 50,068 50,068 — 50,068 — Federal Home Loan Bank advances 384,898 384,898 — 384,898 — Bank stock loan 15,450 15,450 — 15,450 — Subordinated debentures 14,260 14,260 — 14,260 — Contractual obligations 3,965 3,965 — 3,965 — Interest payable 3,648 3,648 — 3,648 — Derivative liabilities 777 777 — 777 — Cash collateral held by derivative counterparty and netting adjustments (252 ) (252 ) (252 ) — — Total derivative liabilities 525 525 (252 ) 777 — Total liabilities $ 3,596,261 $ 3,597,468 $ (252 ) $ 3,597,720 $ — The methods and assumptions, not previously presented, used to estimate fair values are described as follows. Cash and cash equivalents and interest-bearing deposits Held-to-maturity securities Loans held for sale Loans Federal Reserve Bank and Federal Home Loan Bank stock Interest receivable and interest payable Deposits Federal funds purchased and retail repurchase agreements Federal Home Loan Bank Advances Bank stock loan Subordinated debentures Contractual obligations The fair value of off-balance-sheet items is not considered material. |
COMMITMENTS AND CREDIT RISK
COMMITMENTS AND CREDIT RISK | 12 Months Ended |
Dec. 31, 2019 | |
Commitments And Contingencies Disclosure [Abstract] | |
COMMITMENTS AND CREDIT RISK | NOTE 22 – COMMITMENTS AND CREDIT RISK The Company extends credit for commercial real estate mortgages, residential mortgages, working capital financing and loans to businesses and consumers. Commitments to Originate Loans and Available Lines of Credit: Commitments to originate loans and available lines of credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments and lines of credit generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since a portion of the commitments and lines of credit may expire without being drawn upon, the total commitment and lines of credit amounts do not necessarily represent future cash requirements. Each customer’s creditworthiness is evaluated on a case-by-case basis. The amount of collateral obtained, if deemed necessary, is based on management’s credit evaluation of the counterparty. Collateral held varies, but may include accounts receivable, inventory, property, plant and equipment, commercial real estate, and residential real estate. Mortgage loans in the process of origination represent amounts that the Company plans to fund within a normal period of 60 to 90 days and are intended for sale to investors in the secondary market. The contractual amounts of commitments to originate loans and available lines of credit as of December 31, 2019 and 2018 were as follows. December 31, 2019 December 31, 2018 Fixed Rate Variable Rate Fixed Rate Variable Rate Commitments to make loans $ 41,916 $ 141,685 $ 29,543 $ 171,857 Mortgage loans in the process of origination 9,200 2,473 6,785 2,860 Unused lines of credit 95,866 150,749 92,225 167,218 At December 31, 2019, the fixed rate loan commitments have interest rates ranging from 3.75% to 8.09% and maturities ranging from 1 month to 84 months. Standby Letters of Credit: Standby letters of credit are irrevocable commitments issued by the Company to guarantee the performance of a customer to a third party once specified pre-conditions are met. Financial standby letters of credit are primarily issued to support public and private borrowing arrangements, including commercial paper, bond financing, and similar transactions. Performance standby letters of credit are issued to guarantee performance of certain customers under non-financial contractual obligations. The credit risk involved in issuing standby letters of credit is essentially the same as that involved in extending loans to customers. The contractual amounts of standby letters of credit as of December 31, 2019 and 2018 are listed below. December 31, 2019 December 31, 2018 Fixed Rate Variable Rate Fixed Rate Variable Rate Standby letters of credit $ 2,877 $ 3,352 $ 4,474 $ 2,716 |
LEGAL MATTERS
LEGAL MATTERS | 12 Months Ended |
Dec. 31, 2019 | |
Commitments And Contingencies Disclosure [Abstract] | |
LEGAL MATTERS | NOTE 23 – LEGAL MATTERS The Company is party to various matters of litigation in the ordinary course of business. The Company periodically reviews all outstanding pending or threatened legal proceedings and determines if such matters will have an adverse effect on the business, financial condition or results of operations or cash flows. A loss contingency is recorded when the outcome is probable and reasonably able to be estimated. The following loss contingencies have been identified by the Company as reasonably possible to result in an unfavorable outcome for the Company or the Bank. Equity Bank is a party to a February 3, 2015, lawsuit filed against it by CitiMortgage, Inc. (“Citi”). The lawsuit involves an alleged breach of contract related to loan repurchase obligations and damages of $2,700 plus pre-judgment and post-judgment interest. In January 2018, judgment was entered by the court dismissing Citi’s claims with regard to six loans and holding Equity Bank liable with regard to six loans. A loss contingency of $477 was recorded at December 31, 2017, in connection with this case. Subsequently Citi appealed the court’s decision. On November 6, 2019, the Eighth Circuit Court of Appeals issued a decision affirming the trial court’s findings dismissing Citi’s claims with regard to six loans and holding Equity Bank liable with regard to six loans. Citi unsuccessfully sought en banc review of the portion of the Court’s ruling in Equity’s favor. As a result of the Eighth Circuit’s ruling, Equity Bank will be required to satisfy the total judgement of $1,474, but shall be entitled to a reassignment of loans in which there is existing collateral. At the time of this January 2018 judgment, Citi held four loans with collateral having a total balance of $1,129; however, at this time, the Company does not have access to more recent loan information, such as, loan balance, loan status or collateral value to reassess the loss contingency that was recorded at December 31, 2017. Except for the above-mentioned lawsuit and settlement, there have been no other claims for potential repurchase or indemnification demands regarding mortgage loans originated by Equity Bank and sold to investors. However, the Company believes there is possible risk it may face similar demands based on comparable demands loan aggregators are facing from their investors, including Government Sponsored Entities such as Freddie Mac and Fannie Mae and/or settlement agreements loan aggregators have entered into with those investors. The amount of potential loss and outcome of such possible litigation, if it were commenced, is uncertain and the Company would vigorously contest any claims. On May 13, 2019, a purported stockholder of the Company filed a putative securities class action lawsuit in federal court in the Southern District of New York against the Company and certain of its executive officers. On August 16, 2019, the court appointed lead plaintiffs and on October 15, 2019, the plaintiffs filed an amended complaint on behalf of a putative class of persons who purchased Company securities between April 20, 2018, and April 23, 2019. Plaintiffs allege that the Company made materially misleading statements about the Company’s financial results, business, operations and prospects starting on April 20, 2018, that these statements caused the Company’s securities to be overvalued and that the “truth” came out on January 24, 2019, when the Company disclosed that a credit relationship was downgraded and further on April 22, 2019, when the Company disclosed a $14,500 provision for loan loss against that credit relationship. On December 6, 2019, the Company filed a motion to dismiss which remains pending before the court. The Company believes that the lawsuit is without merit and it intends to vigorously defend against all claims asserted. At this time, the Company is unable to reasonably estimate the outcome of this litigation. |
REVENUE RECOGNITION
REVENUE RECOGNITION | 12 Months Ended |
Dec. 31, 2019 | |
Revenue From Contract With Customer [Abstract] | |
REVENUE RECOGNITION | NOTE 24 – REVENUE RECOGNITION The majority of the Company’s revenues come from interest income on financial instruments, including loans, leases, securities and derivatives, which are outside the scope of ASC 606. The Company’s services that fall within the scope of ASC 606 are presented with non-interest income and are recognized as revenue as the Company satisfies its obligation to the customer. Services within the scope of ASC 606 include service charges and fees on deposits, debit card income, investment referral income, insurance sales commissions and other non-interest income related to loans and deposits. Except for gains or losses from the sale of other real estate owned, all of the Company’s revenue from contracts with customers within the scope of ASC 606 is recognized in non-interest income. The following table presents the Company’s sources of non-interest income for the years ended December 31, 2019, and 2018. 2019 2018 Non-interest income Service charges and fees $ 8,672 $ 7,250 Debit card income 8,230 6,178 Mortgage banking (a) 2,468 1,298 Increase in bank-owned life insurance (a) 1,998 2,199 Net gain (loss) from securities transactions (a) 14 (9 ) Other Investment referral income 590 395 Trust income 243 81 Insurance sales commissions 177 245 Recovery on zero-basis purchased loans (a) 143 420 Income from equity method investments (a) 26 7 Other non-interest income related to loans and deposits 2,340 1,612 Other non-interest income not related to loans and deposits(a) 87 49 Total other non-interest income 3,606 2,809 Total $ 24,988 $ 19,725 (a) A description of the Company’s revenue streams accounted for under ASC 606 follows. Service Charges and Fees The company earns fees from its deposit customers for transaction-based, account maintenance and overdraft services. Transaction-based fees, which include services such as stop payment charges, statement rendering and ACH fees, are recognized at the time the transaction is executed as that is the point in time the Company fulfills the customer’s request. Account maintenance fees, which relate primarily to monthly maintenance, are earned over the course of a month, representing the period over which the Company satisfies the performance obligation. Overdraft fees are recognized at the point in time that the overdraft occurs. Service charges on deposits are collected through withdrawal from the customer’s account balance. Debit Card Income The Company earns debit card income from cardholder transactions conducted through payment processors. Debit card income from cardholder transactions represent a percentage of the underlying transaction value and are recognized concurrently with the transaction processing services provided to the cardholder. Investment Referral Income Investment referral services are offered through an unaffiliated registered broker-dealer and investment advisor. Investment referral income consists of transaction-based fees (i.e., trade commissions) and account fees (i.e., custodial fees). The service obligation for transaction-based fees relates to processing of individual transactions and is considered earned at the time the transaction occurs. The Company currently records this income when payment is received and at each month end for current-month transactions. Account fees are considered earned over the period for which the fees relate. These fees are received during the first month of each quarter and represent advance payment for the current quarter. These fees are amortized ratably over the three months during the quarter. Therefore, all account-based fees are currently recorded as performance obligations are satisfied. Trust Income Trust income includes fees from asset management, custody, recordkeeping, investment advisory and administration services. Revenue is recognized at the time the services are performed and may be based on either the fair value of the account or the services provided. Insurance Sales Commissions Insurance commissions are received based on contracts with insurance companies which provide for a percentage of premiums to be paid to the Company in exchange for placement of policies with customers. The commissions generally relate to a period of one year or less. Under certain contracts, the Company may also assist with the claims processing, but this performance obligation is considered insignificant compared to the initial placement of the policy. As such, the performance obligation is considered to have been substantially satisfied at the time of policy placement. While this indicates that all related revenue would be appropriately accrued at policy inception, in some cases recognition occurs over the policy period if received in installments from the insurance company. In no cases would this deferral extend beyond 12 months and the effect is considered immaterial compared to recognition at the time of policy placement. The Company also receives commissions based on renewals of policies previously placed. However, additional work is required to process the renewals, resulting in future performance obligations to earn the related revenues. In addition, the occurrence of such renewals is not certain as initial policies are generally for one year or less and the fees earned are not determined until the time of renewal, based on underwriting at that time. As such, the Company has determined that accrual of income for future renewals is not appropriate. Other non-interest Income Other non-interest income related to loans and deposits is earned when the specific transaction is processed, similar to service charges and fees. Gain of Loss on Sale of Other Real Estate Gain or loss on sale of other real estate is reported in non-interest expense and is netted with other real estate expenses. The Company records a gain or loss from the sale of other real estate when control of the property transfers to the buyer, which generally occurs at the time of an executed deed. When the Company finances the sale of other real estate to the buyer, the Company assesses whether the buyer is committed to perform their obligation under the contract and whether collectability of the transaction price is probable. Once these criteria are met, the other real estate is derecognized and the gain or loss on sale is recorded upon the transfer of control of the property to the buyer. In determining the gain or loss on the sale, the Company adjusts the transaction price and related gain or loss on sale if a significant financing component is present. As a result, the Company has concluded that ASC 606 will affect the decision to recognize or defer gains on sales of other real estate in circumstances where the Company has financed the sale. |
CONDENSED FINANCIAL INFORMATION
CONDENSED FINANCIAL INFORMATION (PARENT COMPANY ONLY) | 12 Months Ended |
Dec. 31, 2019 | |
Condensed Financial Information Of Parent Company Only Disclosure [Abstract] | |
CONDENSED FINANCIAL INFORMATION (PARENT COMPANY ONLY) | NOTE 25 – CONDENSED FINANCIAL INFORMATION (PARENT COMPANY ONLY) Presented below is the condensed financial information as to financial position, results of operations and cash flows of the Parent Company. CONDENSED BALANCE SHEET 2019 2018 ASSETS Cash and due from banks $ 2,991 $ 1,540 Investment in Equity Bank 489,261 470,902 Investment in EBAC 3,837 3,262 Other assets 7,908 10,490 Total assets $ 503,997 $ 486,194 LIABILITIES AND STOCKHOLDERS’ EQUITY Liabilities $ 25,937 $ 30,253 Stockholders’ equity 478,060 455,941 Total liabilities and stockholders’ equity $ 503,997 $ 486,194 CONDENSED STATEMENT OF INCOME 2019 2018 2017 Dividends from Equity Bank $ 23,000 $ 30,500 $ 17,250 Other income 4 3 26 Total income 23,004 30,503 17,276 Expenses Interest expense 1,905 1,918 996 Other expenses 2,254 3,358 3,018 Total expenses 4,159 5,276 4,014 Income (loss) before income tax and equity in undistributed income of subsidiaries 18,845 25,227 13,262 Income tax benefit 1,081 1,025 2,017 Income (loss) before equity in undistributed income (loss) of subsidiaries 19,926 26,252 15,279 Equity in undistributed income (loss) of Equity Bank 5,978 9,681 5,370 Equity in undistributed income (loss) of EBAC (325 ) (108 ) — Net income and net income allocable to common stockholders $ 25,579 $ 35,825 $ 20,649 CONDENSED STATEMENT OF CASH FLOWS 2019 2018 2017 Cash flows from operating activities Net income $ 25,579 $ 35,825 $ 20,649 Adjustments to reconcile net income to net cash from operating activities: Stock based compensation 2,870 2,509 1,100 Equity in undistributed (income) loss of Equity Bank (5,978 ) (9,681 ) (5,370 ) Equity in undistributed (income) loss of EBAC 325 108 — Net amortization of purchase valuation adjustments 301 292 284 Net change in: Other assets (4,092 ) (4,092 ) (1,331 ) Interest payable and other liabilities (147 ) (50 ) (1,419 ) Net cash from (to) operating activities 18,858 24,911 13,913 Cash flows (to) from investing activities Proceeds from sale of other real estate owned — — 267 Purchase stock of Prairie, net of holding company cash acquired — — (12,510 ) Purchase stock of Eastman, net of holding company cash acquired — (55 ) (7,813 ) Purchase stock of Cache, net of holding company cash acquired — — (13,103 ) Purchase stock of KBC, net of holding company cash acquired — (14,151 ) — Purchase stock of Adams, net of holding company cash acquired — (4,179 ) — Purchase assets of City Bank, net of liabilities assumed — (18,900 ) Purchase of investment in EBAC (900 ) (3,370 ) — Net cash (used in) investing activities (900 ) (40,655 ) (33,159 ) Cash flows (to) from financing activities Borrowings on bank stock loan 7,209 22,500 2,500 Principal payments on bank stock loan (13,669 ) (9,550 ) (1,000 ) Proceeds from exercise of employee stock options 371 133 1,215 Principal payments on employee stock loan 44 — 121 Proceeds from employee stock purchase plan 405 — — Purchase of treasury stock (10,867 ) — — Net cash provided by (used in) financing activities (16,507 ) 13,083 2,836 Net change in cash and cash equivalents 1,451 (2,661 ) (16,410 ) Cash and cash equivalents, beginning of period 1,540 4,201 20,611 Ending cash and cash equivalents $ 2,991 $ 1,540 $ 4,201 |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 12 Months Ended |
Dec. 31, 2019 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | NOTE 26 – SUBSEQUENT EVENTS On January 31, 2020, the Company submitted a notice of proposed branch closing with the Federal Reserve for three locations. At their December meeting, our Board of Directors voted to close these branches and to move the loans, deposits and property that would not be sold with the building to other branches that will remain open in the markets of the branches being closed. At the present time, the Company does not have an active program in place to locate a buyer, these properties are not listed with a realtor and they are not being actively marketed. |
NATURE OF OPERATIONS AND SUMM_2
NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 12 Months Ended |
Dec. 31, 2019 | |
Accounting Policies [Abstract] | |
Nature of Operations | Nature of Operations Equity Bank is a Kansas state-chartered bank and member of the Federal Reserve (state Fed member bank jointly supervised by both the Federal Reserve Bank of Kansas City and the Office of the Kansas State Bank Commissioner). The Company is primarily engaged in providing a full range of banking, mortgage banking and financial services to individual and corporate customers generally in Arkansas, Kansas, Missouri and Oklahoma. Equity Bank competes with a variety of other financial institutions including large regional banks, community banks and thrifts as well as credit unions and other non-traditional lenders. |
Use of Estimates | Use of Estimates |
Cash Equivalents | Cash Equivalents |
Securities | Securities Interest income includes amortization of purchase premium or discount. Premiums and discounts on securities are amortized on the level-yield basis without anticipating prepayments, except for certain securities where prepayments are anticipated. Gains and losses on sales are recorded on the trade date and determined using the specific identification method. Management evaluates securities for other-than-temporary impairment (“OTTI”) on at least a quarterly basis, and more frequently when economic or market conditions warrant such an evaluation. For securities in an unrealized loss position, management considers the extent and duration of the unrealized loss and the financial condition and near-term prospects of the issuer. Management also assesses whether it intends to sell, or it is more likely than not that it will be required to sell, a security in an unrealized loss position before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the entire difference between amortized cost and fair value is recognized as impairment through earnings. For debt securities that do not meet the aforementioned criteria, the amount of impairment is split into two components as follows: 1) OTTI related to credit loss, which must be recognized in the income statement and 2) OTTI related to other factors, which is recognized in other comprehensive income. The credit loss is defined as the difference between the present value of the cash flows expected to be collected and the amortized cost basis. All OTTI related to equity securities is recognized through earnings. Equity investments with a readily determinable fair value are measured at fair value with changes in fair value recognized in net income. The exit price concept is used when measuring the fair value of financial instruments for disclosure purposes. |
Loans Held for Sale | Loans Held for Sale |
Loans | Loans Purchased Credit Impaired Loans. As a part of acquisitions, the Company acquired certain loans, for which there was, at acquisition, evidence of deterioration of credit quality since origination. These purchased credit impaired loans were recorded at the acquisition date fair value, such that there is no carryover of the seller’s allowance for loan losses. After acquisition, losses are recognized by an increase in the allowance for loan losses. Such purchase credit impaired loans are accounted for individually. The Company estimates the amount and timing of expected cash flows for each loan, and the expected cash flows in excess of the amount paid are recorded as interest income over the remaining life of the loan (accretable yield). During acquisitions, if the Company expects to liquidate the loan collateral in a relatively short period of time, the Company will assign no value to accretable yield as the impact is immaterial. The excess of the loan’s contractual principal and interest over expected cash flows is not recorded (non-accretable difference). Over the life of the loan, expected cash flows continue to be estimated. If the present value of the expected cash flows is less than the carrying amount, a loss is recorded. If the present value of the expected cash flows is greater than the carrying amount, it is recognized as part of future interest income. Nonaccrual Loans. Generally, loans are designated as nonaccrual when either principal or interest payments are 90 days or more past due based on contractual terms unless the loan is well secured and in the process of collection. Consumer loans are typically charged-off no later than 180 days past due. In all cases, loans are placed on nonaccrual or charged-off at an earlier date if collection of principal or interest is considered doubtful. When a loan is placed on nonaccrual status, unpaid interest credited to income is reversed against income. Future interest income may be recorded on a cash basis after recovery of principal is reasonably assured. Nonaccrual loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured. Impaired Loans. A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect all contractual principal and interest due according to 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 on the value of the underlying collateral if the loan is collateral dependent. The Company evaluates the collectability of both principal and interest when assessing the need for a loss accrual. Factors considered by management in determining impairment include payment status, collateral value and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record and the amount of the shortfall in relation to the principal and interest owed. Troubled Debt Restructurings . In cases where a borrower experiences financial difficulties and the Company makes certain concessionary modifications to contractual terms, the loan is classified as a troubled debt restructured loan and classified as impaired. Generally, a nonaccrual loan that is a troubled debt restructuring remains on nonaccrual until such time that repayment of the remaining principal and interest is not in doubt and the borrower has a period of satisfactory repayment performance. |
Allowance for Loan Losses | Allowance for Loan Losses The allowance consists of specific and general components. The specific component relates to loans that are individually classified as impaired. If a loan is impaired, a portion of the allowance is allocated so that the loan is reported net at the present value of estimated future cash flows using the loan’s existing rate or at the fair value of collateral if repayment is expected solely from the sale of the collateral. Troubled debt restructurings are separately identified for impairment disclosures and are measured at the present value of estimated future cash flows using the loan’s effective rate at inception. If a troubled debt restructuring is considered to be a collateral dependent loan, the loan is reported, net, at the fair value of the collateral. For troubled debt restructurings that subsequently default, the Company determines the amount of reserve in accordance with the accounting policy for the allowance for loan losses. The general component of the allowance for loan losses covers non-impaired loans and is based on historical loss experience adjusted for current factors. The historical loss experience is determined by portfolio and class and is based on the actual loss history experienced by the Company. This actual loss experience is then adjusted by comparing current conditions to the conditions that existed during the loss history. The Company considers the changes related to (i) lending policies, (ii) economic conditions, (iii) nature and volume of the loan portfolio and class, (iv) lending staff, (v) volume and severity of past due, non-accrual and risk graded loans, (vi) loan review system, (vii) value of underlying collateral for collateral dependent loans, (viii) concentration levels and (ix) effects of other external factors. The Company considers loan performance and collateral values in assessing risk for each class in the loan portfolio, as follows: • Commercial and industrial loans are dependent on the strength of the industries of the related borrowers and the success of their businesses. Commercial and industrial loans are advanced for equipment purchases, to provide working capital or meet other financing needs of the business. These loans may be secured by accounts receivable, inventory, equipment or other business assets. Financial information is obtained from the borrower to evaluate the debt service coverage and ability to repay the loans. • Commercial real estate loans are dependent on the industries tied to these loans, as well as the local commercial real estate market. The loans are secured by real estate and typically appraisals are obtained to support the loan amount. Generally, an evaluation of the project’s cash flows is performed to evaluate the borrower’s ability to repay the loan at the time of origination and periodically updated during the life of the loan. • Residential real estate loans are affected by the local residential real estate market, the local economy and movement in interest rates. The Company evaluates the borrower’s repayment ability through a review of credit reports and debt to income ratios. Generally, appraisals are obtained to support the loan amount. • Agricultural real estate loans are real estate loans related to farmland and are affected by the value of farmland. Generally, the Company evaluates the borrower’s ability to repay based on cash flows from farming operations. • Consumer loans are dependent on the local economy. Consumer loans are generally secured by consumer assets, but may be unsecured. Typically, the Company evaluates the borrower’s repayment ability through a review of credit scores and an evaluation of debt to income ratios. • Agricultural loans are primary operating lines subject to annual farming revenues, including productivity and yield of the farm products and market pricing at the time of sale. There have been no material changes to the Company’s accounting policies related to its allowance for loan loss methodology during 2019 and 2018. |
Transfers of Financial Assets | Transfers of Financial Assets |
Bank Owned Life Insurance | Bank-Owned Life Insurance |
Other Real Estate Owned | Other Real Estate Owned |
Premises and Equipment | Premises and Equipment Premises and equipment and other long-term assets are reviewed for impairment when events indicate their carrying amount may not be recoverable from future undiscounted cash flows. If impaired, the assets are recorded at fair value. Lease Obligation. The Company evaluates contracts that convey the right to control the use of identified property, plant or equipment for a period of time for consideration to determine if they are lease obligations. The Company evaluates each lease component to determine if the lease qualifies as a financing lease or as an operating lease. Leases that meet any of the following criteria are considered financing leases: (1) the lease transfers ownership of the underlying asset by the end of the lease term; (2) the lease grants the Company an option to purchase the underlying asset that the Company is reasonably certain to exercise; (3) the lease term is the major part of the remaining economic life of the underlying asset; (4) the present value of the sum of the lease payments and any residual value guaranteed by the Company that is not already reflected in lease payments equals or exceeds substantially all of the fair of the underlying asset; or (5) the underlying asset is of such a specialized nature that it is expected to have no alternative use to the lessor at the end of the lease term. If none of the financing lease criteria are met, the lease is considered an operating lease. The Company evaluates each lease to determine the lease term which will be used based on the type and use of the leased equipment and future expected changes in operations. The resulting lease term will consist of the non-cancellable period for which the Company has the right to use the underlying asset plus (1) periods covered by an option to extend the lease if the Company is reasonably certain to exercise that option; (2) periods covered by an option to terminate the lease if the Company is reasonably certain not to exercise that option; and (3) periods covered by an option to extend the lease in which exercise of the option is controlled by the lessor. The Company has certain leases that contain options to extend the lease and contain options for changes in lease payments which are evaluated by the Company to determine the recorded values for right-of-use assets and lease liability. Lease payments that are contractually known at lease inception are used by the Company for calculating the right-of-use asset and lease liability. Lease payments that vary because of facts or circumstances after the commencement date of the lease from other than passage of time are treated as variable lease payments and are recorded to lease expense in the period in which the obligation for the payments are incurred by the Company. Variable lease payments are not part of the lease payments for determining the right-of-use asset or the lease liability at the lease commencement date. The discount rate to initially determine the present value of the lease payments is based on the information available at the lease commencement date and is either the rate implicit in the lease or the Company’s incremental borrowing rate If the rate implicit in the lease is known or determinable, that rate shall be used. If that rate is not known, the Company’s incremental borrowing rate shall be used. At the January 2019, implementation of this accounting guidance, the Company’s incremental borrowing rate based on the remaining lease term was used to calculate the right-of-use assets and operating lease liabilities. Operating lease right-of-use assets and lease obligations are accounted for subsequent to initial recording by amortizing the right-of-use asset over the lease term on a straight-line method while the lease obligation is increased by the accrual of interest and decreased by subsequent lease payments. Operating lease right-of-use asset amortization and lease obligation interest are reported in non-interest expense in the Consolidated Statements of Operations. Operating lease payments and variable lease payments are reflected within cash flows from operating activities in the Consolidated Statement of Cash Flows. Financing lease right-of-use assets and lease obligations are accounted for subsequent to initial recording by amortizing the right-of-use asset similar to owned assets over the lesser of the lease term or economic life of the asset if the lease transfers ownership of the leased asset while the lease obligation is increased by the accrual of interest and decreased by subsequent lease payments. Financing lease right-of-use asset amortization is reported in non-interest expense, similar to other owned assets, and lease obligation interest accruals are reported in interest expense in the Consolidated Statements of Operations. Financing lease obligation principal payments are reflected within cash flows from financing activities and interest payments and variable lease payments are reflected with the cash flows from operating activities in the Consolidated Statements of Cash Flows. The Company evaluates lease modifications and will consider the modification a new contract if the modification grants the lessee an additional right of use not included in the original lease and the lease payments increase commensurate with the stand-alone price for the additional right-of-use asset. The Company will reallocate the remaining consideration in the contract and remeasure the lease liability using a discount rate for the lease determined at the effective date of the lease modification if the contract modification does any of the following: (1) grants the Company an additional right of use that was not included in the original contract; (2) extends or reduces the term of an existing lease; (3) fully or partially terminates an existing lease; or (4) changes the consideration in the contract only. The Company will recognize the remeasurement of the lease liability for the modification as an adjustment of the right-of-use asset when the contract modification grants additional right-of-use-assets, extends or reduces the term of the lease or changes the consideration of the lease contract. In the case of full or partial termination of the lease, the Company will decrease the carrying amount of the right-of-use-asset on a proportionate basis to the reduction in the lease liability with a gain or loss recognized for the difference between the lease liability adjustment and right of use asset adjustment. If the Company modifies an operating lease which it is the lessor and the modification is not accounted for as a separate contract, the Company will account for the modification as if it were a termination of the existing lease and the creation of a new lease that commences on the effective date of the modification as follows: • If the modified lease is classified as an operating lease, the Company will consider any prepaid or accrued lease rentals relating to the original lease as part of the lease payments for the modified lease. • If the modified lease is classified as a direct financing lease or a sales-type lease, the Company will derecognize any deferred rent liability or accrued rent asset and adjust the selling profit or loss. If the Company modifies a direct financing lease which it is the lessor and the modification is not accounted for as a separate contract, the Company will account for the modified lease as follows: • If the modified lease is classified as a direct financing lease, the Company will adjust the discount rate for the modified lease, so the initial net investment equals the carrying amount of the original lease at the modification effective date. • If the modified lease is classified as a sales-type lease, the Company shall determine the selling profit/loss on commencement date of the modified lease as the difference between the fair value of the underlying asset and net investment in the original lease prior to modification. • If the modified lease is classified as an operating lease, the carrying amount of the underlying asset shall equal the net investment in the original lease immediately before the effective date of the modification. If the Company modifies a sales-type lease which it is the lessor and the modification is not accounted for as a separate contract, the Company will account for the modified lease as follows: • If the modified lease is classified as a direct financing lease, the Company will adjust the discount rate for the modified lease, so the initial net investment of the modified lease equals the carrying amount of the original lease at the modification effective date. • If the modified lease is classified as a direct financing lease, the Company will adjust the discount rate for the modified lease, so the initial net investment equals the carrying amount of the original lease at the modification effective date. |
Federal Reserve Bank and Federal Home Loan Bank Stock | Federal Reserve Bank and Federal Home Loan Bank Stock |
Goodwill and Core Deposit Intangibles | Goodwill and Core Deposit Intangibles |
Credit Related Financial Instruments | Credit Related Financial Instruments |
Derivatives | Derivatives An interest rate swap is an agreement between two entities to exchange cash flows in the future. The agreement sets the dates on which the cash flows will be paid and the manner in which the cash flows will be calculated. Typically, an interest rate swap transaction is used as an exchange of cash flows based on a fixed rate for cash flows based on a variable rate. In an interest rate cap agreement, a cash flow is generated if the price or interest rate of an underlying variable rises above a certain threshold price or interest rate. In an interest rate floor agreement, a cash flow is generated if the price or interest rate of an underlying variable falls below a certain threshold price or interest rate. Caps and floors are designed as protection against the interest rate on a variable rate asset or liability rising above or falling below a certain level. At the inception of a derivative contract, the Company designates the derivatives as one of three types based on the Company’s intentions and belief as to likely effectiveness as a hedge. These three types are: (1) a hedge of the fair value of a recognized asset or liability or of an unrecognized firm commitment (“fair value hedge”); (2) a hedge of a forecasted transaction or the variability of cash flows to be received or paid related to a recognized asset or liability (“cash flow hedge”); or (3) an instrument with no hedging designation (“stand-alone derivative”). For a fair value hedge, the gain or loss on the derivative, as well as the offsetting loss or gain on the hedged item, are recognized in current earnings as fair value changes. For a cash flow hedge, 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. For both types of hedges, changes in the fair value of derivatives that are not highly effective in hedging the changes in fair value or expected cash flows of the hedged item are recognized immediately in current earnings. Changes in the fair value of derivatives that do not qualify for hedge accounting are reported currently in earnings as non-interest income. Net cash settlements on derivatives that qualify for hedge accounting are recorded in interest income or interest expense, based on the item being hedged. Net cash settlements on derivatives that do not qualify for hedge accounting are reported in non-interest income. Cash flows on hedges are classified in the cash flow statement the same as the cash flows of the items being hedged unless the derivative meets the criteria to be a financing derivative. All derivatives are recognized in the consolidated balance sheet at their fair values and are reported as either derivative assets or derivative liabilities net of accrued net settlements and collateral, if any. The individual derivative amounts are netted by counterparty when the netting requirements have been met. If these netted values are positive, they are classified as an asset and, if negative, they are classified as a liability. The Company formally documents the relationship between derivatives and hedged items, as well as the risk-management objective and the strategy for undertaking hedge transactions at the inception of the hedging relationship. This documentation includes linking fair value or cash flow hedges to specific assets and liabilities on the balance sheet or to specific firm commitments or forecasted transactions. The Company also formally assesses, both at the hedge’s inception and on an ongoing basis, at least quarterly, whether the derivative instruments that are used are highly effective in offsetting changes in fair values or 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 non-interest income. When a fair value hedge is discontinued, the hedged asset or liability is no longer adjusted for changes in fair value and the existing basis adjustment is amortized or accreted over the remaining life of the asset or liability. When a cash flow hedge is discontinued but the hedged cash flows or forecasted transactions are still expected to occur, gains or losses that are accumulated in other comprehensive income are amortized into earnings over the same periods which the hedged transactions will affect earnings. The Company has entered into interest rate cap derivatives to assist with interest rate risk management. These derivatives are not designated as hedging instruments but rather as stand-alone derivatives. The fair values of stand-alone derivatives are included in other assets and other liabilities. Changes in fair value of stand-alone derivatives are recorded through earnings as non-interest income. |
Income Taxes | Income Taxes On December 22, 2017, the President of the United States signed the 2017 Tax Cuts and Jobs Act (Tax Reform) which reduced the U.S. federal statutory corporate income tax rate from 35% to 21% beginning in 2018. In connection with the December 2017, enactment the Company recognized a $1,086 re-measurement of its net deferred tax assets, including a re-measurement of $535 in a net deferred tax asset related to unrealized losses on available-for-sale securities and held-to-maturity securities previously transferred from available-for-sale. Because the tax effect of variations in unrealized losses on available-for-sale securities and transferred held-to-maturity securities impact accumulated other comprehensive income, the Company had a stranded tax effect of $535 as of the date of enactment. The Company elected to early adopt ASU 2018-02 resulting in a reclassification of $535 from accumulated other comprehensive income to retained earnings in December 2017. The Company recognizes interest and/or penalties related to income tax matters in income tax expense. There were no such interest or penalties incurred in 2019, 2018 or 2017. |
Earnings Per Common Share | Earnings Per Common Share |
Share-Based Payments | Share-Based Payments Compensation expense associated with restricted stock units is based on the fair value of the units at the grant date. This compensation expense is recognized ratably over the service period stipulated in the grant agreement. |
Comprehensive Income | Comprehensive Income |
Loss Contingencies | Loss Contingencies |
Restrictions on Cash | Restrictions on Cash |
Dividend Restriction | Dividend Restriction |
Fair Value | Fair Value |
Segment Information | Segment Information |
Reclassifications | Reclassifications |
Recent Accounting Pronouncements | Recent Accounting Pronouncements: In February 2016, FASB issued ASU 2016-02, Leases, Leases – Targeted In June 2016, FASB issued ASU 2016-13, Financial Instruments – Credit Losses, In January 2017, the FASB issued ASU 2017-04, Intangibles-Goodwill and Other In March 2017, FASB issued ASU 2017-08, Premium Amortization on Purchased Callable Debt Securities. In August 2017, FASB issued ASU 2017-12, Derivatives and Hedging, Targeted Improvements to Accounting for Hedging Activities In August 2018, FASB issued ASU 2018-15, Intangibles-Goodwill and Other-Internal-Use Software, Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract. |
Revenue Recognition | The majority of the Company’s revenues come from interest income on financial instruments, including loans, leases, securities and derivatives, which are outside the scope of ASC 606. The Company’s services that fall within the scope of ASC 606 are presented with non-interest income and are recognized as revenue as the Company satisfies its obligation to the customer. Services within the scope of ASC 606 include service charges and fees on deposits, debit card income, investment referral income, insurance sales commissions and other non-interest income related to loans and deposits. Except for gains or losses from the sale of other real estate owned, all of the Company’s revenue from contracts with customers within the scope of ASC 606 is recognized in non-interest income. The following table presents the Company’s sources of non-interest income for the years ended December 31, 2019, and 2018. 2019 2018 Non-interest income Service charges and fees $ 8,672 $ 7,250 Debit card income 8,230 6,178 Mortgage banking (a) 2,468 1,298 Increase in bank-owned life insurance (a) 1,998 2,199 Net gain (loss) from securities transactions (a) 14 (9 ) Other Investment referral income 590 395 Trust income 243 81 Insurance sales commissions 177 245 Recovery on zero-basis purchased loans (a) 143 420 Income from equity method investments (a) 26 7 Other non-interest income related to loans and deposits 2,340 1,612 Other non-interest income not related to loans and deposits(a) 87 49 Total other non-interest income 3,606 2,809 Total $ 24,988 $ 19,725 (a) A description of the Company’s revenue streams accounted for under ASC 606 follows. Service Charges and Fees The company earns fees from its deposit customers for transaction-based, account maintenance and overdraft services. Transaction-based fees, which include services such as stop payment charges, statement rendering and ACH fees, are recognized at the time the transaction is executed as that is the point in time the Company fulfills the customer’s request. Account maintenance fees, which relate primarily to monthly maintenance, are earned over the course of a month, representing the period over which the Company satisfies the performance obligation. Overdraft fees are recognized at the point in time that the overdraft occurs. Service charges on deposits are collected through withdrawal from the customer’s account balance. Debit Card Income The Company earns debit card income from cardholder transactions conducted through payment processors. Debit card income from cardholder transactions represent a percentage of the underlying transaction value and are recognized concurrently with the transaction processing services provided to the cardholder. Investment Referral Income Investment referral services are offered through an unaffiliated registered broker-dealer and investment advisor. Investment referral income consists of transaction-based fees (i.e., trade commissions) and account fees (i.e., custodial fees). The service obligation for transaction-based fees relates to processing of individual transactions and is considered earned at the time the transaction occurs. The Company currently records this income when payment is received and at each month end for current-month transactions. Account fees are considered earned over the period for which the fees relate. These fees are received during the first month of each quarter and represent advance payment for the current quarter. These fees are amortized ratably over the three months during the quarter. Therefore, all account-based fees are currently recorded as performance obligations are satisfied. Trust Income Trust income includes fees from asset management, custody, recordkeeping, investment advisory and administration services. Revenue is recognized at the time the services are performed and may be based on either the fair value of the account or the services provided. Insurance Sales Commissions Insurance commissions are received based on contracts with insurance companies which provide for a percentage of premiums to be paid to the Company in exchange for placement of policies with customers. The commissions generally relate to a period of one year or less. Under certain contracts, the Company may also assist with the claims processing, but this performance obligation is considered insignificant compared to the initial placement of the policy. As such, the performance obligation is considered to have been substantially satisfied at the time of policy placement. While this indicates that all related revenue would be appropriately accrued at policy inception, in some cases recognition occurs over the policy period if received in installments from the insurance company. In no cases would this deferral extend beyond 12 months and the effect is considered immaterial compared to recognition at the time of policy placement. The Company also receives commissions based on renewals of policies previously placed. However, additional work is required to process the renewals, resulting in future performance obligations to earn the related revenues. In addition, the occurrence of such renewals is not certain as initial policies are generally for one year or less and the fees earned are not determined until the time of renewal, based on underwriting at that time. As such, the Company has determined that accrual of income for future renewals is not appropriate. Other non-interest Income Other non-interest income related to loans and deposits is earned when the specific transaction is processed, similar to service charges and fees. Gain of Loss on Sale of Other Real Estate Gain or loss on sale of other real estate is reported in non-interest expense and is netted with other real estate expenses. The Company records a gain or loss from the sale of other real estate when control of the property transfers to the buyer, which generally occurs at the time of an executed deed. When the Company finances the sale of other real estate to the buyer, the Company assesses whether the buyer is committed to perform their obligation under the contract and whether collectability of the transaction price is probable. Once these criteria are met, the other real estate is derecognized and the gain or loss on sale is recorded upon the transfer of control of the property to the buyer. In determining the gain or loss on the sale, the Company adjusts the transaction price and related gain or loss on sale if a significant financing component is present. As a result, the Company has concluded that ASC 606 will affect the decision to recognize or defer gains on sales of other real estate in circumstances where the Company has financed the sale. |
BUSINESS COMBINATIONS (Tables)
BUSINESS COMBINATIONS (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
MidFirst Bank [Member] | |
Business Acquisition [Line Items] | |
Summary of the Consideration Paid and the Amounts of the Assets Acquired and Liabilities Assumed Recognized at the Merger/Acquisition Date | The following table summarizes the consideration paid for the MidFirst assets acquired and liabilities assumed recognized at the acquisition date. Recognized amounts of identifiable assets acquired and liabilities assumed: Cash and due from banks $ 85,360 Loans 6,507 Premises and equipment 656 Core deposit intangible 1,350 Other assets 13 Total assets acquired 93,886 Deposits 98,543 Interest payable and other liabilities 63 Total liabilities assumed 98,606 Total identifiable net assets (4,720 ) Goodwill 4,720 $ — |
Schedule Of Acquisitions By Acquisition At Merger | The following table presents information about the loans acquired in the MidFirst acquisition as of the date of acquisition. Non-Credit Impaired Purchased Impaired Contractually required principal $ 6,770 $ — Non-accretable difference (expected losses) — — Cash flows expected to be collected 6,770 — Accretable yield (263 ) — Fair value of acquired loans $ 6,507 $ — |
Schedule Of Carrying Amounts Of Purchased Loans At Merger/Acquisition | The following table presents the carrying value of the loans acquired in the MidFirst acquisition by class, as of the date of acquisition. Non-Credit Impaired Purchased Credit Impaired Total Commercial real estate $ 668 $ — $ 668 Commercial and industrial 34 — 34 Residential real estate 3,271 — 3,271 Consumer 2,534 — 2,534 Fair value of acquired loans $ 6,507 $ — $ 6,507 |
City Bank and Trust Company [Member] | |
Business Acquisition [Line Items] | |
Summary of the Consideration Paid and the Amounts of the Assets Acquired and Liabilities Assumed Recognized at the Merger/Acquisition Date | The following table summarizes the consideration paid for City Bank and the amounts of the assets acquired and liabilities assumed recognized at the merger date. Fair value of consideration: Cash $ 18,900 $ 18,900 Recognized amounts of identifiable assets acquired and liabilities assumed: Cash and due from banks $ 27,659 Held-to-maturity securities 44,927 Federal Reserve Bank and Federal Home Loan Bank stock 881 Loans 77,148 Premises and equipment 2,044 Core deposit intangibles 3,360 Other real estate owned 307 Other assets 1,103 Total assets acquired 157,429 Deposits 126,853 Federal Home Loan Bank advances 17,353 Interest payable and other liabilities 147 Total liabilities assumed 144,353 Total identifiable net assets 13,076 Goodwill 5,824 $ 18,900 |
Schedule Of Acquisitions By Acquisition At Merger | The following table presents the best available information about the loans acquired in the City Bank merger as of the date of merger. Non-Credit Impaired Purchased Impaired Contractually required principal $ 74,918 $ 5,136 Non-accretable difference (expected losses) — (1,156 ) Cash flows expected to be collected 74,918 3,980 Accretable yield (1,750 ) — Fair value of acquired loans $ 73,168 $ 3,980 |
Schedule Of Carrying Amounts Of Purchased Loans At Merger/Acquisition | The following table presents the carrying value of the loans acquired in the City Bank merger by class, as of the date of merger. Non-Credit Impaired Purchased Credit Impaired Total Commercial real estate $ 17,398 $ 2,592 $ 19,990 Commercial and industrial 8,463 158 8,621 Residential real estate 26,716 798 27,514 Agricultural real estate 5,571 — 5,571 Consumer 8,905 244 9,149 Agricultural 6,115 188 6,303 Fair value of acquired loans $ 73,168 $ 3,980 $ 77,148 |
Kansas Bank Corporation [Member] | |
Business Acquisition [Line Items] | |
Summary of the Consideration Paid and the Amounts of the Assets Acquired and Liabilities Assumed Recognized at the Merger/Acquisition Date | The following table summarizes the consideration paid for KBC and the amounts of the assets acquired and liabilities assumed recognized at the merger date. Fair value of consideration: Common Stock $ 32,103 Cash 14,918 $ 47,021 Recognized amounts of identifiable assets acquired and liabilities assumed: Cash and due from banks $ 27,899 Available-for-sale securities 22,820 Held-to-maturity securities 92,028 Federal Reserve Bank and Federal Home Loan Bank stock 475 Loans 159,359 Premises and equipment 5,835 Core deposit intangibles 8,080 Other assets 5,618 Total assets acquired 322,114 Deposits 288,352 Interest payable and other liabilities 751 Total liabilities assumed 289,103 Total identifiable net assets 33,011 Goodwill 14,010 $ 47,021 |
Schedule Of Acquisitions By Acquisition At Merger | The following table presents the best available information about the loans acquired in the KBC merger as of the date of merger. Non-Credit Impaired Purchased Impaired Contractually required principal $ 160,526 $ 5,066 Non-accretable difference (expected losses) — (2,305 ) Cash flows expected to be collected 160,526 2,761 Accretable yield (3,928 ) — Fair value of acquired loans $ 156,598 $ 2,761 |
Schedule Of Carrying Amounts Of Purchased Loans At Merger/Acquisition | The following table presents the carrying value of the loans acquired in the KBC merger by class, as of the date of merger. Non-Credit Impaired Purchased Credit Impaired Total Commercial real estate $ 94,492 $ 1,975 $ 96,467 Commercial and industrial 18,848 622 19,470 Residential real estate 2,898 — 2,898 Agricultural real estate 22,425 — 22,425 Consumer 3,539 — 3,539 Agricultural 14,396 164 14,560 Fair value of acquired loans $ 156,598 $ 2,761 $ 159,359 |
Adams Dairy Bancshares, Inc. [Member] | |
Business Acquisition [Line Items] | |
Summary of the Consideration Paid and the Amounts of the Assets Acquired and Liabilities Assumed Recognized at the Merger/Acquisition Date | The following table summarizes the consideration paid for Adams and the amounts of the assets acquired and liabilities assumed recognized at the merger date. Fair value of consideration: Common stock $ 13,456 Cash 3,960 $ 17,416 Recognized amounts of identifiable assets acquired and liabilities assumed: Cash and due from banks $ 2,812 Interest bearing time deposits in other banks 4,237 Available-for-sale securities 10,677 Held-to-maturity securities 335 Federal Reserve Bank and Federal Home Loan Bank stock 194 Loans 82,716 Premises and equipment 4,485 Bank-owned life insurance 2,869 Core deposit intangibles 1,990 Other assets 1,042 Total assets acquired 111,357 Deposits 97,124 Federal Home Loan Bank advances 1,000 Interest payable and other liabilities 4,282 Total liabilities assumed 102,406 Total identifiable net assets 8,951 Goodwill 8,465 $ 17,416 |
Schedule Of Acquisitions By Acquisition At Merger | The following table presents the best available information about the loans acquired in the Adams merger as of the date of merger. Non-Credit Impaired Purchased Impaired Contractually required principal $ 84,225 $ 1,477 Non-accretable difference (expected losses) — (238 ) Cash flows expected to be collected 84,225 1,239 Accretable yield (2,748 ) — Fair value of acquired loans $ 81,477 $ 1,239 |
Schedule Of Carrying Amounts Of Purchased Loans At Merger/Acquisition | The following table presents the carrying value of the loans acquired in the Adams merger by class, as of the date of merger. Non-Credit Impaired Purchased Credit Impaired Total Commercial real estate $ 74,657 $ 820 $ 75,477 Commercial and industrial 1,002 419 1,421 Residential real estate 4,955 — 4,955 Consumer 863 — 863 Fair value of acquired loans $ 81,477 $ 1,239 $ 82,716 |
SECURITIES (Tables)
SECURITIES (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Amortized Cost and Fair Value of Securities Available-for-Sale | The amortized cost and fair value of available-for-sale securities and the related gross unrealized gains and losses recognized in accumulated other comprehensive income were as follows. Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value December 31, 2019 Available-for-sale securities Residential mortgage-backed securities (issued by government-sponsored entities) $ 141,082 $ 1,261 $ (276 ) $ 142,067 $ 141,082 $ 1,261 $ (276 ) $ 142,067 December 31, 2018 Available-for-sale securities Residential mortgage-backed securities (issued by government-sponsored entities) $ 173,503 $ 12 $ (4,640 ) $ 168,875 $ 173,503 $ 12 $ (4,640 ) $ 168,875 |
Amortized Cost and Fair Value of Securities Held-to-Maturity | The amortized cost and fair value of held-to-maturity securities and the related gross unrecognized gains and losses were as follows. Amortized Cost Gross Unrecognized Gains Gross Unrecognized Losses Fair Value December 31, 2019 Held-to-maturity securities U.S. Government-sponsored entities $ 1,991 $ 23 $ (1 ) $ 2,013 Residential mortgage-backed securities (issued by government sponsored entities) 593,236 11,272 (536 ) 603,972 Corporate 22,992 503 — 23,495 Small Business Administration loan pools 1,478 12 — 1,490 State and political subdivisions 149,362 3,604 (25 ) 152,941 $ 769,059 $ 15,414 $ (562 ) $ 783,911 December 31, 2018 Held-to-maturity securities U.S. Government-sponsored entities $ 3,873 $ 7 $ (20 ) $ 3,860 Residential mortgage-backed securities (issued by government sponsored entities) 567,766 2,354 (9,653 ) 560,467 Corporate 22,993 234 (326 ) 22,901 Small Business Administration loan pools 1,746 — (18 ) 1,728 State and political subdivisions 151,978 804 (1,749 ) 151,033 $ 748,356 $ 3,399 $ (11,766 ) $ 739,989 |
Fair Value and Amortized Cost of Debt Securities by Contractual Maturity | The fair value and amortized cost of debt securities at December 31, 2019, by contractual maturity, is shown below. Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. Securities not due at a single maturity date, primarily mortgage-backed securities, are shown separately. Available-for-Sale Held-to-Maturity Amortized Cost Fair Value Amortized Cost Fair Value Within one year $ — $ — $ 17,421 $ 17,451 One to five years — — 35,169 36,004 Five to ten years — — 51,217 52,691 After ten years — — 72,016 73,793 Mortgage-backed securities 141,082 142,067 593,236 603,972 Total debt securities $ 141,082 $ 142,067 $ 769,059 $ 783,911 |
Proceeds from Sales and Associated Gains and Losses Reclassified from Other comprehensive Income to Income | The proceeds from sales and the associated gains and losses on available-for-sale securities reclassified from other comprehensive income to income are listed below. 2019 2018 2017 Proceeds $ — $ — $ 84,087 Gross gains — — 271 Gross losses — — — Income tax expense on net realized gains — — 103 |
Available for Sale Securities [Member] | |
Summary of Gross Unrealized Losses and Fair Value of Securities | The following tables show gross unrealized losses and fair value aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at December 31, 2019 and 2018. Less Than 12 Months 12 Months or More Total Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss December 31, 2019 Available-for-sale securities Residential mortgage-backed (issued by government-sponsored entities) $ 2,017 $ (3 ) $ 32,466 $ (273 ) $ 34,483 $ (276 ) Total temporarily impaired securities $ 2,017 $ (3 ) $ 32,466 $ (273 ) $ 34,483 $ (276 ) December 31, 2018 Available-for-sale securities Residential mortgage-backed (issued by government-sponsored entities) $ 48,332 $ (575 ) $ 115,844 $ (4,065 ) $ 164,176 $ (4,640 ) Total temporarily impaired securities $ 48,332 $ (575 ) $ 115,844 $ (4,065 ) $ 164,176 $ (4,640 ) |
Held to Maturity Securities [Member] | |
Summary of Gross Unrealized Losses and Fair Value of Securities | Less Than 12 Months 12 Months or More Total Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss December 31, 2019 Held-to-maturity securities U.S. Government-sponsored entities $ — $ — $ 999 $ (1 ) $ 999 $ (1 ) Residential mortgage-backed (issued by government-sponsored entities) 26,246 (51 ) 96,987 (639 ) 123,233 (690 ) Small Business Administration loan pools 811 (14 ) — — 811 (14 ) State and political subdivisions 1,771 (4 ) 1,354 (21 ) 3,125 (25 ) Total temporarily impaired securities $ 28,828 $ (69 ) $ 99,340 $ (661 ) $ 128,168 $ (730 ) December 31, 2018 Held-to-maturity securities U.S. Government-sponsored entities $ 1,882 $ (3 ) $ 982 $ (17 ) $ 2,864 $ (20 ) Residential mortgage-backed (issued by government-sponsored entities) 31,270 (356 ) 294,127 (10,579 ) 325,397 (10,935 ) Corporate 7,500 (326 ) 5,182 (49 ) 12,682 (375 ) Small Business Administration loan pools — — 1,728 (37 ) 1,728 (37 ) State and political subdivisions 40,415 (473 ) 45,137 (1,561 ) 85,552 (2,034 ) Total temporarily impaired securities $ 81,067 $ (1,158 ) $ 347,156 $ (12,243 ) $ 428,223 $ (13,401 ) |
LOANS AND ALLOWANCE FOR LOAN _2
LOANS AND ALLOWANCE FOR LOAN LOSSES (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Receivables [Abstract] | |
Categories of Loans | The following table lists categories of loans at December 31, 2019 and 2018. 2019 2018 Commercial real estate $ 1,158,022 $ 1,251,992 Commercial and industrial 592,052 582,527 Residential real estate 503,439 444,540 Agricultural real estate 141,868 139,332 Consumer 68,378 62,894 Agricultural 92,893 94,123 Total loans 2,556,652 2,575,408 Allowance for loan losses (12,232 ) (11,454 ) Net loans $ 2,544,420 $ 2,563,954 |
Schedule of Allowance for Loan Losses by Portfolio Segment Allowance | The following tables present the activity in the allowance for loan losses by class for the years ended December 31, 2019, 2018 and 2017. December 31, 2019 Commercial Real Estate Commercial and Industrial Residential Real Estate Agricultural Real Estate Consumer Agricultural Total Allowance for loan losses: Beginning balance $ 4,662 $ 2,707 $ 2,320 $ 391 $ 1,070 $ 304 $ 11,454 Provision for loan losses 1,310 14,193 941 213 1,387 310 18,354 Loans charged-off (2,178 ) (13,911 ) (1,077 ) (43 ) (1,394 ) (87 ) (18,690 ) Recoveries 125 72 492 47 359 19 1,114 Total ending allowance balance $ 3,919 $ 3,061 $ 2,676 $ 608 $ 1,422 $ 546 $ 12,232 December 31, 2018 Commercial Real Estate Commercial and Industrial Residential Real Estate Agricultural Real Estate Consumer Agricultural Total Allowance for loan losses: Beginning balance $ 2,740 $ 2,136 $ 2,262 $ 319 $ 768 $ 273 $ 8,498 Provision for loan losses 1,832 636 97 146 1,188 62 3,961 Loans charged-off (1,779 ) (118 ) (293 ) (93 ) (1,431 ) (43 ) (3,757 ) Recoveries 1,869 53 254 19 545 12 2,752 Total ending allowance balance $ 4,662 $ 2,707 $ 2,320 $ 391 $ 1,070 $ 304 $ 11,454 December 31, 2017 Commercial Real Estate Commercial and Industrial Residential Real Estate Agricultural Real Estate Consumer Agricultural Total Allowance for loan losses: Beginning balance $ 2,420 $ 1,881 $ 1,765 $ 35 $ 266 $ 65 $ 6,432 Provision for loan losses (69 ) 651 604 287 1,236 244 2,953 Loans charged-off (271 ) (431 ) (350 ) (16 ) (1,025 ) (42 ) (2,135 ) Recoveries 660 35 243 13 291 6 1,248 Total ending allowance balance $ 2,740 $ 2,136 $ 2,262 $ 319 $ 768 $ 273 $ 8,498 |
Schedule of Loans Evaluated for Impairment | The following tables present the recorded investment in loans and the balance in the allowance for loan losses by portfolio and class based on impairment method as of December 31, 2019 and 2018. December 31, 2019 Commercial Real Estate Commercial and Industrial Residential Real Estate Agricultural Real Estate Consumer Agricultural Total Allowance for loan losses: Individually evaluated for impairment $ 281 $ 199 $ 303 $ 56 $ 39 $ 57 $ 935 Collectively evaluated for impairment 3,581 2,848 2,352 459 1,383 394 11,017 Purchased credit impaired loans 57 14 21 93 — 95 280 Total $ 3,919 $ 3,061 $ 2,676 $ 608 $ 1,422 $ 546 $ 12,232 Loan Balance: Individually evaluated for impairment $ 4,375 $ 16,335 $ 7,358 $ 584 $ 381 $ 518 $ 29,551 Collectively evaluated for impairment 1,145,701 570,606 493,309 135,776 67,972 90,347 2,503,711 Purchased credit impaired loans 7,946 5,111 2,772 5,508 25 2,028 23,390 Total $ 1,158,022 $ 592,052 $ 503,439 $ 141,868 $ 68,378 $ 92,893 $ 2,556,652 December 31, 2018 Commercial Real Estate Commercial and Industrial Residential Real Estate Agricultural Real Estate Consumer Agricultural Total Allowance for loan losses: Individually evaluated for impairment $ 242 $ 185 $ 391 $ 22 $ 62 $ 10 $ 912 Collectively evaluated for impairment 3,695 2,493 1,861 367 925 293 9,634 Purchased credit impaired loans 725 29 68 2 83 1 908 Total $ 4,662 $ 2,707 $ 2,320 $ 391 $ 1,070 $ 304 $ 11,454 Loan Balance: Individually evaluated for impairment $ 23,323 $ 5,020 $ 4,434 $ 856 $ 678 $ 2,252 $ 36,563 Collectively evaluated for impairment 1,215,173 571,171 437,219 133,415 61,978 89,194 2,508,150 Purchased credit impaired loans 13,496 6,336 2,887 5,061 238 2,677 30,695 Total $ 1,251,992 $ 582,527 $ 444,540 $ 139,332 $ 62,894 $ 94,123 $ 2,575,408 |
Impaired Loans, Segregated by Class of Loans | The following table presents information related to impaired loans, excluding those purchased credit impaired loans which have not deteriorated since acquisition, by class of loans as of and for the year ended December 31, 2019. December 31, 2019 Unpaid Principal Balance Recorded Investment Allowance for Loan Losses Allocated Average Recorded Investment Interest Income Recognized With no related allowance recorded: Commercial real estate $ 2,166 $ 2,150 $ — $ 6,372 $ 82 Commercial and industrial 20,152 14,832 — 4,617 11 Residential real estate 4,395 4,324 — 4,193 50 Agricultural real estate 1,610 1,533 — 1,750 — Consumer — — — 25 — Agricultural — — — 240 — Subtotal 28,323 22,839 — 17,197 143 With an allowance recorded: Commercial real estate 3,469 2,749 338 6,262 74 Commercial and industrial 1,845 1,640 213 15,150 21 Residential real estate 3,395 3,244 324 6,221 59 Agricultural real estate 1,142 1,015 149 928 2 Consumer 430 381 39 694 9 Agricultural 1,619 1,359 152 803 2 Subtotal 11,900 10,388 1,215 30,058 167 Total $ 40,223 $ 33,227 $ 1,215 $ 47,255 $ 310 The above table presents interest income for the twelve months ended December 31, 2019. Interest income recognized in the above table was substantially recognized on the cash basis. The recorded investment in loans excludes accrued interest receivable due to immateriality. The following table presents information related to impaired loans, excluding purchased credit impaired loans which have not deteriorated since acquisition, by portfolio and class of loans as of and for the year ended December 31, 2018. December 31, 2018 Unpaid Principal Balance Recorded Investment Allowance for Loan Losses Allocated Average Recorded Investment Interest Income Recognized With no related allowance recorded: Commercial real estate $ 20,940 $ 20,902 $ — $ 5,652 $ 150 Commercial and industrial 3,446 3,396 — 5,629 66 Residential real estate 533 527 — 744 20 Agricultural real estate 2,038 2,035 — 1,364 18 Consumer 61 55 — 32 2 Agricultural 756 756 — 411 18 Subtotal 27,774 27,671 — 13,832 274 With an allowance recorded: Commercial real estate 8,700 7,179 967 2,913 142 Commercial and industrial 2,255 1,911 214 1,068 53 Residential real estate 4,934 4,582 459 4,188 74 Agricultural real estate 261 242 24 429 2 Consumer 1,144 859 145 568 33 Agricultural 162 106 11 418 4 Subtotal 17,456 14,879 1,820 9,584 308 Total $ 45,230 $ 42,550 $ 1,820 $ 23,416 $ 582 |
Schedule of Aging of Recorded Investment in Past Due Loans by Segment and Class of Loans | The following tables present the aging of the recorded investment in past due loans as of December 31, 2019 and 2018, by portfolio and class of loans. December 31, 2019 30 – 59 Days Past Due 60 – 89 Days Past Due Greater 90 Days Past Due Still On Accrual Nonaccrual Loans Not Past Due Total Commercial real estate $ 1,191 $ 218 $ — $ 6,913 $ 1,149,700 $ 1,158,022 Commercial and industrial 74 11 — 16,906 575,061 592,052 Residential real estate 831 1,008 — 8,013 493,587 503,439 Agricultural real estate 59 78 — 4,807 136,924 141,868 Consumer 402 138 — 381 67,457 68,378 Agricultural 10 14 — 1,359 91,510 92,893 Total $ 2,567 $ 1,467 $ — $ 38,379 $ 2,514,239 $ 2,556,652 December 31, 2018 30 – 59 Days Past Due 60 – 89 Days Past Due Greater 90 Days Past Due Still On Accrual Nonaccrual Loans Not Past Due Total Commercial real estate $ 1,302 $ 259 $ — $ 12,768 $ 1,237,663 $ 1,251,992 Commercial and industrial 509 2,467 — 6,954 572,597 582,527 Residential real estate 782 2,188 18 5,257 436,295 444,540 Agricultural real estate — 30 — 4,857 134,445 139,332 Consumer 501 157 — 914 61,322 62,894 Agricultural 186 3 — 2,453 91,481 94,123 Total $ 3,280 $ 5,104 $ 18 $ 33,203 $ 2,533,803 2,575,408 |
Summary of Risk Category of Loans by Class of Loans | The risk category of loans by class of loans is as follows as of December 31, 2019 and 2018. December 31, 2019 Unclassified Classified Total Commercial real estate $ 1,146,696 $ 11,326 $ 1,158,022 Commercial and industrial 560,282 31,770 592,052 Residential real estate 495,418 8,021 503,439 Agricultural real estate 132,065 9,803 141,868 Consumer 67,997 381 68,378 Agricultural 88,607 4,286 92,893 Total $ 2,491,065 $ 65,587 $ 2,556,652 December 31, 2018 Unclassified Classified Total Commercial real estate $ 1,215,015 $ 36,977 $ 1,251,992 Commercial and industrial 553,045 29,482 582,527 Residential real estate 439,184 5,356 444,540 Agricultural real estate 129,285 10,047 139,332 Consumer 61,976 918 62,894 Agricultural 90,848 3,275 94,123 Total $ 2,489,353 $ 86,055 2,575,408 |
Schedule of Recorded Investments in Purchase Credit Impaired Loans | . The recorded investments in purchased credit impaired loans as of December 31, 2019, 2018 and 2017 were as follows. 2019 2018 2017 Contractually required principal payments $ 29,895 $ 40,772 $ 41,349 Discount (6,505 ) (10,077 ) (12,492 ) Recorded investment $ 23,390 $ 30,695 $ 28,857 |
Schedule of Troubled Debt Restructurings by Class of Loans | Troubled debt restructurings by class of loans are as follows as of December 31, 2019. Number of Loans Recorded Investment Impairment Recognized Commercial real estate 1 $ 1,247 $ — Commercial and industrial 1 14,261 4,994 Total troubled debt restructurings 2 $ 15,508 $ 4,994 |
OTHER REAL ESTATE OWNED (Tables
OTHER REAL ESTATE OWNED (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Banking And Thrift [Abstract] | |
Schedule for Changes in Other Real Estate Owned | Changes in other real estate owned for the years ended December 31, 2019 and 2018 were as follows. 2019 2018 Beginning of year $ 6,372 $ 7,907 Transfers in 3,984 3,228 Acquired in acquisition — 307 Net (loss) gain on sales (10 ) (75 ) Proceeds from sales (1,803 ) (4,730 ) 8,543 6,637 Additions to valuation reserve (250 ) (265 ) Recorded investment $ 8,293 $ 6,372 |
Summary of Other Real Estate Owned Expense | Expenses related to other real estate owned for the years ended December 31, 2019, 2018 and 2017 were as follows. 2019 2018 2017 Net loss (gain) on sales $ 10 $ 75 $ (121 ) Gain on initial valuation of other real estate properties received (191 ) (920 ) — Provision for unrealized losses 250 265 12 Operating expenses, net of rental income 638 509 632 $ 707 $ (71 ) $ 523 |
PREMISES AND EQUIPMENT (Tables)
PREMISES AND EQUIPMENT (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Property Plant And Equipment [Abstract] | |
Schedule of Premises and Equipment | Major classifications of premises and equipment, stated at cost, are as follows. 2019 2018 Land $ 17,018 $ 16,988 Buildings and improvements 68,575 62,116 Furniture, fixtures and equipment 18,207 17,217 103,800 96,321 Less: accumulated depreciation (19,322 ) (15,879 ) Premises and equipment, net $ 84,478 $ 80,442 |
Schedule of Right-of-use Asset and Lease Obligations by Type of Property | Right-of-use asset and lease obligations by type of property are listed below. December 31, 2019 Right-of-Use Asset Lease Liability Weighted Average Lease Term in Years Weighted Average Discount Rate Operating leases Land and building leases $ 4,153 $ 4,112 16.0 2.95 % Total operating leases $ 4,153 $ 4,112 16.0 2.95 % |
Schedule of Operating Lease Costs | Operating lease costs are listed below. 2019 Operating lease cost $ 726 Short-term lease cost — Variable lease cost 49 Total operating lease cost $ 775 |
Schedule of Maturity Analysis of Operating Lease Liabilities and Reconciliation of Undiscounted Cash Flows to Total Operating Lease Liability | A maturity analysis of operating lease liabilities and reconciliation of the undiscounted cash flows to the total operating lease liability as of December 31, 2019, is listed below. Lease payments Due in one year or less $ 660 Due after one year through two years 503 Due after two years through three years 504 Due after three years through four years 388 Due after four years through five years 214 Thereafter 3,047 Total undiscounted cash flows 5,316 Discount on cash flows (1,204 ) Total $ 4,112 |
GOODWILL AND CORE DEPOSIT INT_2
GOODWILL AND CORE DEPOSIT INTANGIBLES (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Schedule of Intangible Assets and Goodwill | The carrying basis of goodwill and core deposit intangibles as of and for the years ended December 31, 2019 and 2018 were as follows. Goodwill Core Deposit Balance as of January 1, 2018 $ 104,907 $ 10,738 Acquired in acquisition 26,805 13,430 Amortization — (2,443 ) Balance as of December 31, 2018 131,712 21,725 Acquired in acquisition 4,720 1,350 Amortization — (3,168 ) Balance as of December 31, 2019 $ 136,432 $ 19,907 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense | Estimated amortization expense for each of the following five years and thereafter is listed in the following table. Expensed in one year or less $ 3,187 Expensed after one year through two years 3,124 Expensed after two years through three years 3,061 Expensed after three years through four years 2,779 Expensed after four years through five years 2,640 Thereafter 5,116 Total $ 19,907 |
DERIVATIVE FINANCIAL INSTRUME_2
DERIVATIVE FINANCIAL INSTRUMENTS (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | |
Summary of Notional Balance and Fair Values of Derivatives Outstanding | The following table shows the notional balances and fair values (including net accrued interest) of the derivatives outstanding by derivative type at December 31, 2019 and December 31, 2018. December 31, 2019 December 31, 2018 Notional Amount Derivative Assets Derivative Liabilities Notional Amount Derivative Assets Derivative Liabilities Derivatives designated as hedging instruments: Interest rate swaps $ 5,797 $ 30 $ 177 $ 16,743 $ 242 $ — Total derivatives designated as hedging relationships 5,797 30 177 16,743 242 — Derivatives not designated as hedging instruments: Interest rate swaps 114,571 3,505 3,899 38,073 690 777 Interest rate caps/floors — — — 2,264 1 — Total derivatives not designated as hedging instruments 114,571 3,505 3,899 40,337 691 777 Total $ 120,368 3,535 4,076 $ 57,080 933 777 Cash collateral — (4,186 ) (531 ) (541 ) Netting adjustments 182 182 289 289 Net amount presented in balance sheet $ 3,717 $ 72 $ 691 $ 525 |
Summary of Net Gains or Losses on Derivatives and Hedging Activities | The following table shows net gains or losses on derivatives and hedging activities for the years ended December 31, 2019, 2018 and 2017. 2019 2018 2017 Derivatives designated as hedging instruments: Interest rate swaps $ — $ — $ — Total net gain (loss) related to fair value hedge ineffectiveness — — — Derivatives not designated as hedging instruments: Economic hedges: Interest rate swaps 307 202 — Interest rate caps/floors — — (1 ) Total net gains (losses) related to derivatives not designated as hedging instruments 307 202 (1 ) Net gains (losses) on derivatives and hedging activities $ 307 $ 202 $ (1 ) |
Summary of Recorded Net Gains or Losses on Derivatives and Related Hedged Items in Fair Value Hedging Relationships | The following table shows the recorded net gains or losses on derivatives and the related hedged items in fair value hedging relationships and the impact of those derivatives on the Company’s net interest income for the years ended December 31, 2019, 2018 and 2017. December 31, 2019 Gain/(Loss) on Derivatives Gain/(Loss) on Hedged Items Net Fair Value Hedge Gain/(Loss) Effect of Derivatives on Net Interest Income Commercial real estate loans $ (387 ) $ 387 $ — $ 21 Total $ (387 ) $ 387 $ — $ 21 December 31, 2018 Gain/(Loss) on Derivatives Gain/(Loss) on Hedged Items Net Fair Value Hedge Ineffectiveness Effect of Derivatives on Net Interest Income Commercial real estate loans $ 283 $ (283 ) $ — $ (40 ) Total $ 283 $ (283 ) $ — $ (40 ) December 31, 2017 Gain/(Loss) on Derivatives Gain/(Loss) on Hedged Items Net Fair Value Hedge Ineffectiveness Effect of Derivatives on Net Interest Income Commercial real estate loans $ 12 $ (12 ) $ — $ (137 ) Total $ 12 $ (12 ) $ — $ (137 ) |
DEPOSITS (Tables)
DEPOSITS (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Banking And Thrift [Abstract] | |
Summary of Scheduled Maturities of Time Deposits | At December 31, 2019, the scheduled maturities of time deposits are as follows. Due in one year or less $ 615,145 Due after one year through two years 122,102 Due after two years through three years 66,879 Due after three years through four years 16,213 Due after four years through five years 11,242 Thereafter 1,589 Total $ 833,170 |
BORROWINGS (Tables)
BORROWINGS (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Schedule of Federal Funds Purchased and Retail Repurchase Agreements | Federal funds purchased and retail repurchase agreements included the following at December 31, 2019 and 2018. 2019 2018 Federal funds purchased $ — $ — Retail repurchase agreements $ 35,708 $ 50,068 |
Average Daily Balance and Interest Rate of Federal Funds Purchased and Retail Repurchase Agreements | The following table presents the borrowing usage and interest rate information for federal funds purchased and retail repurchase agreements at and for the years ended December 31, 2019 and 2018. 2019 2018 Average daily balance during the period $ 42,459 $ 43,536 Average interest rate during the period 0.36 % 0.25 % Maximum month-end balance during the period $ 45,575 $ 53,815 Weighted average interest rate at period-end 0.40 % 0.28 % |
Summary of Federal Home Loan Bank Advances | Federal Home Loan Bank advances as of December 31, 2019 and 2018 were as follows. 2019 2018 Federal Home Loan Bank line of credit advances $ 311,223 $ 368,770 Federal Home Loan Bank fixed rate term advances 13,095 16,049 Total principal outstanding 324,318 384,819 Federal Home Loan Bank fixed rate term advances, fair market value adjustments 55 79 Total Federal Home Loan Bank advances $ 324,373 $ 384,898 |
Schedule of Bank Stock Loan Advances | Bank stock loan advances as of December 31, 2019 and 2018 are listed below. December 31, 2019 Outstanding Balance Weighted Average Rate Bank stock loan $ 8,990 4.75 % December 31, 2018 Outstanding Balance Weighted Average Rate Bank stock loan $ 15,450 5.50 % |
Federal Home Loan Bank Advances [Member] | |
Summary of Future Principal Repayments | Future principal repayments of the December 31, 2019 outstanding balances are as follows. Due in one year or less $ 314,211 Due after one year through two years 2,357 Due after two years through three years 2,357 Due after three years through four years 2,357 Due after four years through five years 1,857 Thereafter 1,179 Total $ 324,318 |
Bank Stock Loan [Member] | |
Summary of Future Principal Repayments | Future principal repayments of the December 31, 2019 outstanding balances are as follows. Due in one year or less $ 1,774 Due after one year through two years 1,774 Due after two years through three years 1,774 Due after three years through four years 2,674 Due after four years through five years 994 Thereafter — Total $ 8,990 |
SUBORDINATED DEBENTURES (Tables
SUBORDINATED DEBENTURES (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Brokers And Dealers [Abstract] | |
Summary of Contractual Balance and Unamortized Fair Value Adjustments | At December 31, 2019 and 2018, the contractual balance and the unamortized fair value adjustments were as shown below. 2019 2018 Contractual balance $ 20,620 $ 20,620 Unamortized fair value adjustment (6,059 ) (6,360 ) Net book value $ 14,561 $ 14,260 |
STOCKHOLDERS' EQUITY (Tables)
STOCKHOLDERS' EQUITY (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Equity [Abstract] | |
Summary of Shares Issued and Held in Treasury or Outstanding | At December 31, 2019 and 2018, the following table presents shares that were issued and were held in treasury or were outstanding. 2019 2018 Class A common stock – issued 17,136,493 17,244,138 Class A common stock – held in treasury (1,692,059 ) (1,271,043 ) Class A common stock – outstanding 15,444,434 15,973,095 Class B common stock – issued 234,903 234,903 Class B common stock – held in treasury (234,903 ) (234,903 ) Class B common stock – outstanding — — |
Components of Accumulated Other Comprehensive Income | Components of accumulated other comprehensive income as of December 31, 2019 and 2018 were as follows. Available -for-Sale Securities Held-to -Maturity Securities Accumulated Other Comprehensive Income December 31, 2019 Net unrealized or unamortized gains (losses) $ 985 $ (988 ) $ (3 ) Tax effect (248 ) 248 — $ 737 $ (740 ) $ (3 ) December 31, 2018 Net unrealized or unamortized gains (losses) $ (4,628 ) $ (1,891 ) $ (6,519 ) Tax effect 1,173 479 1,652 $ (3,455 ) $ (1,412 ) $ (4,867 ) |
INCOME TAXES (Tables)
INCOME TAXES (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Income Tax Disclosure [Abstract] | |
Schedule of Components of Income Tax Expense | Income tax expense is listed in the following table. 2019 2018 2017 Current income tax expense Federal $ 4,066 $ 4,655 $ 6,474 State 1,649 2,212 1,282 Total current income tax expense 5,715 6,867 7,756 Deferred income tax expense Federal 1,444 2,933 2,550 State 119 550 71 Total deferred income tax expense 1,563 3,483 2,621 Total income tax expense $ 7,278 $ 10,350 $ 10,377 |
Schedule of Effective Income Tax Rate Reconciliation | A reconciliation of income tax expense at the U.S. federal statutory rate (21% in 2019 and 2018; 35% in 2017) to the Company’s actual income tax expense is shown below. 2019 2018 2017 Computed at the statutory rate $ 6,900 $ 9,697 $ 10,862 Increase (decrease) resulting from: State and local taxes, net of federal benefit 1,422 1,909 717 Tax-exempt interest (885 ) (844 ) (1,177 ) Non-taxable life insurance income (419 ) (462 ) (506 ) Non-deductible expenses 353 264 376 Share-based payments 18 (23 ) (335 ) Federal tax credits (636 ) (568 ) (660 ) Change in valuation allowance 396 655 187 Effect of tax reform — — 1,086 Other 129 (278 ) (173 ) Income tax expense $ 7,278 $ 10,350 $ 10,377 |
Components of Deferred Tax Assets and Liabilities | Components of deferred tax assets and liabilities are shown in the table below. 2019 2018 Deferred tax assets Allowance for loan losses $ 3,076 $ 2,880 Net unrealized or unamortized losses on securities 1 1,639 Tax credit carryforwards 974 974 Accrued compensation 2,209 1,994 Net operating loss carryforwards 1,337 1,003 Other real estate owned 481 656 Acquired loans fair market value adjustments 2,560 4,058 Other 1,153 1,072 Gross deferred tax assets 11,791 14,276 Deferred tax liabilities Assumed debt fair market value adjustments 1,464 1,537 Goodwill amortization 1,871 1,492 Depreciation 3,934 3,288 Federal Home Loan Bank stock dividends 267 1,123 Core deposit intangibles 3,616 4,293 Other 981 283 Gross deferred tax liabilities 12,133 12,016 Valuation allowance (1,623 ) (1,227 ) Net deferred tax asset (liability) $ (1,965 ) $ 1,033 |
REGULATORY MATTERS (Tables)
REGULATORY MATTERS (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Banking And Thrift [Abstract] | |
Summary of Company's and Equity Bank's Capital Amounts and Ratios | The Company’s and Equity Bank’s capital amounts and ratios at December 31, 2019 and 2018 are presented in the tables below. Ratios provided for Equity Bancshares, Inc. represent the ratios of the Company on a consolidated basis. Actual Minimum Required for Capital Adequacy Under Basel III Phase-In Minimum Required for Capital Adequacy Under Basel III Fully Phased-In To Be Well Capitalized Under Prompt Corrective Provisions Amount Ratio Amount Ratio Amount Ratio Amount Ratio December 31, 2019 Total capital to risk weighted assets Equity Bancshares, Inc. $ 352,853 12.59 % $ 294,341 10.50 % $ 294,341 10.50 % $ N/A N/A Equity Bank 348,951 12.47 % 293,917 10.50 % 293,917 10.50 % 279,921 10.00 % Tier 1 capital to risk weighted assets Equity Bancshares, Inc. 340,621 12.15 % 238,276 8.50 % 238,276 8.50 % N/A N/A Equity Bank 336,719 12.03 % 237,933 8.50 % 237,933 8.50 % 223,937 8.00 % Common equity Tier 1 capital to risk weighted assets Equity Bancshares, Inc. 326,060 11.63 % 196,227 7.00 % 196,227 7.00 % N/A N/A Equity Bank 336,719 12.03 % 195,945 7.00 % 195,945 7.00 % 181,949 6.50 % Tier 1 leverage to average assets Equity Bancshares, Inc. 340,621 9.02 % 151,072 4.00 % 151,072 4.00 % N/A N/A Equity Bank 336,719 8.92 % 150,943 4.00 % 150,943 4.00 % 188,679 5.00 % Actual Minimum Required for Capital Adequacy Under Basel III Phase-In Minimum Required for Capital Adequacy Under Basel III Fully Phased-In To Be Well Capitalized Under Prompt Corrective Provisions Amount Ratio Amount Ratio Amount Ratio Amount Ratio December 31, 2018 Total capital to risk weighted assets Equity Bancshares, Inc. $ 337,649 11.86 % $ 281,222 9.88 % $ 299,021 10.50 % $ N/A N/A Equity Bank 338,180 11.89 % 280,845 9.88 % 298,619 10.50 % 284,400 10.00 % Tier 1 capital to risk weighted assets Equity Bancshares, Inc. 326,195 11.45 % 224,266 7.88 % 242,065 8.50 % N/A N/A Equity Bank 326,726 11.49 % 223,965 7.88 % 241,740 8.50 % 227,520 8.00 % Common equity Tier 1 capital to risk weighted assets Equity Bancshares, Inc. 311,935 10.95 % 181,548 6.38 % 199,347 7.00 % N/A N/A Equity Bank 326,726 11.49 % 181,305 6.38 % 199,080 7.00 % 184,860 6.50 % Tier 1 leverage to average assets Equity Bancshares, Inc. 326,195 8.60 % 151,731 4.00 % 151,731 4.00 % N/A N/A Equity Bank 326,726 8.62 % 151,590 4.00 % 151,590 4.00 % 189,488 5.00 % |
RELATED-PARTY TRANSACTIONS (Tab
RELATED-PARTY TRANSACTIONS (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Related Party Transactions [Abstract] | |
Changes in Loans Outstanding to Related Parties | At December 31, 2019 and 2018, the Company had loans outstanding to executive officers, directors, significant stockholders, and their affiliates (related parties), in the amount of $2,030 and $2,267. Changes during 2019 are listed below. 2019 Balance at January 1, 2019 $ 2,267 New loans/advances 762 Repayments (999 ) Balance at December 31, 2019 $ 2,030 |
EMPLOYEE BENEFITS (Tables)
EMPLOYEE BENEFITS (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Compensation And Retirement Disclosure [Abstract] | |
Schedule of Net Pension Cost and Funded Status | The following table presents the net pension cost and funded status of the Company relating to the Pentegra Defined Benefit Plan since the date of acquisition (dollar amounts in thousands). 2019 2018 Net pension cost charged to salaries and employee benefits $ 142 $ 113 Pentegra defined benefit plan funded status as of July 1 108.59 % 109.86 % Plan's funded status as of July 1 91.40 % 94.30 % Contributions paid to the plan $ 109 $ 93 |
SHARE-BASED PAYMENTS (Tables)
SHARE-BASED PAYMENTS (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
Summary of Stock Option Activity | The following tables summarize stock option activity for the years ended December 31, 2019 and 2018. December 31, 2019 Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term (Years) Aggregate Intrinsic Value Outstanding at beginning of year 852,556 $ 23.57 7 $ 10,044 Granted 61,019 32.43 10 — Exercised (20,402 ) (18.22 ) (6 ) — Forfeited or expired (107,415 ) (32.56 ) (9 ) — Outstanding at end of year 785,758 $ 23.17 6 $ 6,896 Fully vested and expected to vest 785,758 $ 23.17 6 $ 6,896 Exercisable at end of year 609,323 $ 20.45 5 $ 6,797 December 31, 2018 Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term (Years) Aggregate Intrinsic Value Outstanding at beginning of year 797,521 $ 22.54 8 $ 10,261 Granted 99,935 34.69 10 — Exercised (6,800 ) (19.49 ) (8 ) — Forfeited or expired (38,100 ) (31.97 ) (10 ) — Outstanding at end of year 852,556 $ 23.57 7 $ 10,044 Fully vested and expected to vest 852,556 $ 23.57 7 $ 10,044 Exercisable at end of year 565,847 $ 19.44 4 $ 8,995 |
Schedule of Fair Values of Options Granted | The fair values of options granted were determined using the following weighted-average assumptions as of grant dates. 2019 2018 2017 Risk free rate 2.52 % 2.45 % 2.20 % Market value of stock on grant date $ 32.43 $ 34.69 $ 33.05 Expected term (in years) 5.8 6.3 6.7 Expected volatility 15.71 % 19.71 % 19.66 % Dividend rate — % — % — % |
Summary of Changes in Company's Non-vested RSUs | A summary of changes in the Company’s non-vested RSUs for the year is shown below. Non-vested Restricted Stock Units Shares Weighted Average Grant Date Fair Value Non-vested RSUs at January 1, 2019 132,107 $ 36.78 Granted 102,995 32.01 Vested (23,628 ) 36.29 Forfeited (24,024 ) 34.14 Outstanding at end of year 187,450 $ 34.56 |
EARNINGS PER SHARE (Tables)
EARNINGS PER SHARE (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Earnings Per Share [Abstract] | |
Summary of Earnings Per Share | Earnings per share were computed as shown below. 2019 2018 2017 Basic: Net income allocable to common stockholders $ 25,579 $ 35,825 $ 20,649 Weighted average common shares outstanding 15,618,690 15,389,513 12,446,851 Weighted average vested restricted stock units 1,201 4,403 1,751 Weighted average shares 15,619,891 15,393,916 12,448,602 Basic earnings per common share $ 1.64 $ 2.33 $ 1.66 Diluted: Net income allocable to common stockholders $ 25,579 $ 35,825 $ 20,649 Weighted average common shares outstanding for: Basic earnings per common share 15,619,891 15,393,916 12,448,602 Dilutive effects of the assumed exercise of stock options 201,409 293,588 255,947 Dilutive effects of the assumed redemption of RSUs 21,839 20,882 2,635 Average shares and dilutive potential common shares 15,843,139 15,708,386 12,707,184 Diluted earnings per common share $ 1.61 $ 2.28 $ 1.62 |
FAIR VALUE (Tables)
FAIR VALUE (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Fair Value Disclosures [Abstract] | |
Assets and Liabilities Measured at Fair Value on Recurring Basis | Assets and liabilities measured at fair value on a recurring basis are summarized below. December 31, 2019 (Level 1) (Level 2) (Level 3) Assets: Available-for-sale securities: Residential mortgage-backed securities (issued by government-sponsored entities) $ — $ 142,067 $ — Derivative assets: Derivative assets (included in other assets) — 3,535 — Cash collateral held by counterparty and netting adjustments 182 — — Total derivative assets 182 3,535 — Other assets: Equity securities with readily determinable fair value 489 — — Total other assets 489 — — Total assets $ 671 $ 145,602 $ — Liabilities: Derivative liabilities: Derivative liabilities (included in other liabilities) $ — $ 4,076 $ — Cash collateral held by counterparty and netting adjustments (4,004 ) — — Total derivative liabilities (4,004 ) 4,076 — Total liabilities $ (4,004 ) $ 4,076 $ — December 31, 2018 (Level 1) (Level 2) (Level 3) Assets: Available-for-sale securities: Residential mortgage-backed securities (issued by government-sponsored entities) $ — $ 168,875 $ — Derivative assets: Derivative assets (included in other assets) — 933 — Cash collateral held by counterparty and netting adjustments (242 ) — — Total derivative assets (242 ) 933 — Other assets: Equity securities with readily determinable fair value 475 — — Total other assets 475 — — Total assets $ 233 $ 169,808 $ — Liabilities: Derivative liabilities: Derivative liabilities (included in other liabilities) $ — $ 777 $ — Cash collateral held by counterparty and netting adjustments (252 ) — — Total derivative liabilities (252 ) 777 — Total liabilities $ (252 ) $ 777 $ — |
Summary of Assets Measured at Fair Value on Non-recurring Basis | Assets measured at fair value on a non-recurring basis are summarized below. December 31, 2019 (Level 1) (Level 2) (Level 3) Impaired loans: Commercial real estate $ — $ — $ 2,411 Commercial and industrial — — 15,688 Residential real estate — — 2,920 Agricultural real estate — — 866 Other — — 1,549 Other real estate owned: Commercial real estate — — 1,268 Residential real estate — — 42 December 31, 2018 (Level 1) (Level 2) (Level 3) Impaired loans: Commercial real estate $ — $ — $ 6,212 Commercial and industrial — — 1,697 Residential real estate — — 4,123 Agricultural real estate — — 218 Other — — 809 Other real estate owned: Commercial real estate — — 1,391 Residential real estate — — 97 |
Summary of Additional Information about Unobservable Inputs Used in Fair Value Measurement | The following table presents additional information about the unobservable inputs used in the fair value measurement of financial assets measured on a nonrecurring basis that were categorized with Level 3 of the fair value hierarchy. Fair Value Valuation Technique Unobservable Input Range (weighted average) December 31, 2019 Impaired real estate loans $ 9,173 Sales Comparison Approach Adjustments for differences between comparable sales 3% - 12% (8%) Impaired other loans $ 14,261 Multiple of Earnings Multiples of earnings for comparable entities 4.5X - 5.5X (5.0X) Impaired other real estate owned $ 1,310 Sales Comparison Approach Adjustments for differences between comparable sales 10% - 55% (32%) December 31, 2018 Impaired loans $ 13,059 Sales Comparison Approach Adjustments for differences between comparable sales 4% - 22% (13%) |
Carrying Amounts and Estimated Fair Values of Financial Instrument | Carrying amounts and estimated fair values of financial instruments at year end were as follows as of the date indicated. December 31, 2019 Carrying Amount Estimated Fair Value Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 89,291 $ 89,291 $ 89,291 $ — $ — Interest-bearing deposits 2,498 2,498 — 2,498 — Available-for-sale securities 142,067 142,067 — 142,067 — Held-to-maturity securities 769,059 783,911 — 783,911 — Loans held for sale 5,933 5,933 — 5,933 — Loans, net of allowance for loan losses 2,544,420 2,538,209 — — 2,538,209 Federal Reserve Bank and Federal Home Loan Bank stock 31,137 N/A N/A N/A N/A Interest receivable 15,738 15,738 — 15,738 — Derivative assets 3,535 3,535 — 3,535 — Cash collateral held by derivative counterparty and netting adjustments 182 182 182 — — Total derivative assets 3,717 3,717 182 3,535 — Equity securities with readily determinable fair value 489 489 489 — — Total assets $ 3,604,349 $ 3,581,853 $ 89,962 $ 953,682 $ 2,538,209 Financial liabilities: Deposits $ 3,063,516 $ 3,070,305 $ — $ 3,070,305 $ — Federal funds purchased and retail repurchase agreements 35,708 35,708 — 35,708 — Federal Home Loan Bank advances 324,373 324,373 — 324,373 — Bank stock loan 8,990 8,990 — 8,990 — Subordinated debentures 14,561 14,561 — 14,561 — Contractual obligations 5,836 5,836 — 5,836 — Interest payable 4,454 4,454 — 4,454 — Derivative liabilities 4,076 4,076 — 4,076 — Cash collateral held by derivative counterparty and netting adjustments (4,004 ) (4,004 ) (4,004 ) — — Total derivative liabilities 72 72 (4,004 ) 4,076 — Total liabilities $ 3,457,510 $ 3,464,299 $ (4,004 ) $ 3,468,303 $ — December 31, 2018 Carrying Amount Estimated Fair Value Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 192,818 $ 192,818 $ 192,818 $ — $ — Interest-bearing deposits 4,991 4,991 — 4,991 — Available-for-sale securities 168,875 168,875 — 168,875 — Held-to-maturity securities 748,356 739,989 — 739,989 — Loans held for sale 2,972 2,972 — 2,972 — Loans, net of allowance for loan losses 2,563,954 2,565,526 — — 2,565,526 Federal Reserve Bank and Federal Home Loan Bank stock 29,214 N/A N/A N/A N/A Interest receivable 17,372 17,372 — 17,372 — Derivative assets 933 933 — 933 — Cash collateral held by derivative counterparty and netting adjustments (242 ) (242 ) (242 ) — — Total derivative assets 691 691 (242 ) 933 — Equity securities with readily determinable fair value 475 475 475 — — Total assets $ 3,729,718 $ 3,693,709 $ 193,051 $ 935,132 $ 2,565,526 Financial liabilities: Deposits $ 3,123,447 $ 3,124,654 $ — $ 3,124,654 $ — Federal funds purchased and retail repurchase agreements 50,068 50,068 — 50,068 — Federal Home Loan Bank advances 384,898 384,898 — 384,898 — Bank stock loan 15,450 15,450 — 15,450 — Subordinated debentures 14,260 14,260 — 14,260 — Contractual obligations 3,965 3,965 — 3,965 — Interest payable 3,648 3,648 — 3,648 — Derivative liabilities 777 777 — 777 — Cash collateral held by derivative counterparty and netting adjustments (252 ) (252 ) (252 ) — — Total derivative liabilities 525 525 (252 ) 777 — Total liabilities $ 3,596,261 $ 3,597,468 $ (252 ) $ 3,597,720 $ — |
COMMITMENTS AND CREDIT RISK (Ta
COMMITMENTS AND CREDIT RISK (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Commitments And Contingencies Disclosure [Abstract] | |
Summary of Contractual Amounts of Commitments and Standby Letters of Credit to Originate Loans and Available Lines of Credit | The contractual amounts of commitments to originate loans and available lines of credit as of December 31, 2019 and 2018 were as follows. December 31, 2019 December 31, 2018 Fixed Rate Variable Rate Fixed Rate Variable Rate Commitments to make loans $ 41,916 $ 141,685 $ 29,543 $ 171,857 Mortgage loans in the process of origination 9,200 2,473 6,785 2,860 Unused lines of credit 95,866 150,749 92,225 167,218 December 31, 2019 December 31, 2018 Fixed Rate Variable Rate Fixed Rate Variable Rate Standby letters of credit $ 2,877 $ 3,352 $ 4,474 $ 2,716 |
REVENUE RECOGNITION (Tables)
REVENUE RECOGNITION (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Accounting Standards Update 2014-09 [Member] | |
Disaggregation Of Revenue [Line Items] | |
Summary of Company's Source of Non-interest Income | Except for gains or losses from the sale of other real estate owned, all of the Company’s revenue from contracts with customers within the scope of ASC 606 is recognized in non-interest income. The following table presents the Company’s sources of non-interest income for the years ended December 31, 2019, and 2018. 2019 2018 Non-interest income Service charges and fees $ 8,672 $ 7,250 Debit card income 8,230 6,178 Mortgage banking (a) 2,468 1,298 Increase in bank-owned life insurance (a) 1,998 2,199 Net gain (loss) from securities transactions (a) 14 (9 ) Other Investment referral income 590 395 Trust income 243 81 Insurance sales commissions 177 245 Recovery on zero-basis purchased loans (a) 143 420 Income from equity method investments (a) 26 7 Other non-interest income related to loans and deposits 2,340 1,612 Other non-interest income not related to loans and deposits(a) 87 49 Total other non-interest income 3,606 2,809 Total $ 24,988 $ 19,725 (a) |
CONDENSED FINANCIAL INFORMATI_2
CONDENSED FINANCIAL INFORMATION (PARENT COMPANY ONLY) (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Condensed Financial Information Of Parent Company Only Disclosure [Abstract] | |
Condensed Balance Sheet | CONDENSED BALANCE SHEET 2019 2018 ASSETS Cash and due from banks $ 2,991 $ 1,540 Investment in Equity Bank 489,261 470,902 Investment in EBAC 3,837 3,262 Other assets 7,908 10,490 Total assets $ 503,997 $ 486,194 LIABILITIES AND STOCKHOLDERS’ EQUITY Liabilities $ 25,937 $ 30,253 Stockholders’ equity 478,060 455,941 Total liabilities and stockholders’ equity $ 503,997 $ 486,194 |
Condensed Statement of Income | CONDENSED STATEMENT OF INCOME 2019 2018 2017 Dividends from Equity Bank $ 23,000 $ 30,500 $ 17,250 Other income 4 3 26 Total income 23,004 30,503 17,276 Expenses Interest expense 1,905 1,918 996 Other expenses 2,254 3,358 3,018 Total expenses 4,159 5,276 4,014 Income (loss) before income tax and equity in undistributed income of subsidiaries 18,845 25,227 13,262 Income tax benefit 1,081 1,025 2,017 Income (loss) before equity in undistributed income (loss) of subsidiaries 19,926 26,252 15,279 Equity in undistributed income (loss) of Equity Bank 5,978 9,681 5,370 Equity in undistributed income (loss) of EBAC (325 ) (108 ) — Net income and net income allocable to common stockholders $ 25,579 $ 35,825 $ 20,649 |
Condensed Statement of Cash Flows | CONDENSED STATEMENT OF CASH FLOWS 2019 2018 2017 Cash flows from operating activities Net income $ 25,579 $ 35,825 $ 20,649 Adjustments to reconcile net income to net cash from operating activities: Stock based compensation 2,870 2,509 1,100 Equity in undistributed (income) loss of Equity Bank (5,978 ) (9,681 ) (5,370 ) Equity in undistributed (income) loss of EBAC 325 108 — Net amortization of purchase valuation adjustments 301 292 284 Net change in: Other assets (4,092 ) (4,092 ) (1,331 ) Interest payable and other liabilities (147 ) (50 ) (1,419 ) Net cash from (to) operating activities 18,858 24,911 13,913 Cash flows (to) from investing activities Proceeds from sale of other real estate owned — — 267 Purchase stock of Prairie, net of holding company cash acquired — — (12,510 ) Purchase stock of Eastman, net of holding company cash acquired — (55 ) (7,813 ) Purchase stock of Cache, net of holding company cash acquired — — (13,103 ) Purchase stock of KBC, net of holding company cash acquired — (14,151 ) — Purchase stock of Adams, net of holding company cash acquired — (4,179 ) — Purchase assets of City Bank, net of liabilities assumed — (18,900 ) Purchase of investment in EBAC (900 ) (3,370 ) — Net cash (used in) investing activities (900 ) (40,655 ) (33,159 ) Cash flows (to) from financing activities Borrowings on bank stock loan 7,209 22,500 2,500 Principal payments on bank stock loan (13,669 ) (9,550 ) (1,000 ) Proceeds from exercise of employee stock options 371 133 1,215 Principal payments on employee stock loan 44 — 121 Proceeds from employee stock purchase plan 405 — — Purchase of treasury stock (10,867 ) — — Net cash provided by (used in) financing activities (16,507 ) 13,083 2,836 Net change in cash and cash equivalents 1,451 (2,661 ) (16,410 ) Cash and cash equivalents, beginning of period 1,540 4,201 20,611 Ending cash and cash equivalents $ 2,991 $ 1,540 $ 4,201 |
Nature of Operations and Summ_3
Nature of Operations and Summary of Significant Accounting Policies - Additional Information (Detail) | 12 Months Ended | ||
Dec. 31, 2019USD ($)Entity | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | |
Organization Consolidation And Presentation Of Financial Statements Disclosure And Significant Accounting Policies [Line Items] | |||
Number of entities | Entity | 2 | ||
Federal Statutory Income Tax Rate | 21.00% | 21.00% | 35.00% |
Tax Cuts and Jobs Act of 2017, Re-measured net deferred tax assets | $ 1,086,000 | ||
Tax Cuts and Jobs Act of 2017, Re-measured net deferred tax assets relating to unrealized losses on securities | 535,000 | ||
Tax Cuts and Jobs Act of 2017, Stranded Tax Effect | 535,000 | ||
Tax Cuts and Jobs Act of 2017, Reclassification from AOCI to Retained Earnings | 535,000 | ||
Interest or penalties incurred | $ 0 | $ 0 | 0 |
Operating lease, right-of-use asset | 4,153,000 | ||
Operating lease liabilities | 4,112,000 | ||
Retained Earnings [Member] | |||
Organization Consolidation And Presentation Of Financial Statements Disclosure And Significant Accounting Policies [Line Items] | |||
Tax Cuts and Jobs Act of 2017, Reclassification from AOCI to Retained Earnings | $ 535,000 | ||
ASU 2016-02 [Member] | |||
Organization Consolidation And Presentation Of Financial Statements Disclosure And Significant Accounting Policies [Line Items] | |||
Operating lease, right-of-use asset | 3,251,000 | ||
Operating lease liabilities | 3,251,000 | ||
ASU 2017-08 [Member] | Amortized Cost of Investment Securities [Member] | |||
Organization Consolidation And Presentation Of Financial Statements Disclosure And Significant Accounting Policies [Line Items] | |||
Reduction in the amortized cost of investment securities leads to reduction of retained earnings and net of deferred taxes | 1,385,000 | ||
ASU 2017-08 [Member] | Retained Earnings [Member] | |||
Organization Consolidation And Presentation Of Financial Statements Disclosure And Significant Accounting Policies [Line Items] | |||
Reduction in the amortized cost of investment securities leads to reduction of retained earnings and net of deferred taxes | 1,148,000 | ||
ASU 2017-08 [Member] | Deferred Taxes [Member] | |||
Organization Consolidation And Presentation Of Financial Statements Disclosure And Significant Accounting Policies [Line Items] | |||
Reduction in the amortized cost of investment securities leads to reduction of retained earnings and net of deferred taxes | $ 237,000 | ||
ASU 2018-15 [Member] | |||
Organization Consolidation And Presentation Of Financial Statements Disclosure And Significant Accounting Policies [Line Items] | |||
Capitalizing of implementation costs | $ 311,000 | ||
Minimum [Member] | Core Deposits [Member] | |||
Organization Consolidation And Presentation Of Financial Statements Disclosure And Significant Accounting Policies [Line Items] | |||
Estimated useful lives of core deposits | 7 years | ||
Maximum [Member] | Core Deposits [Member] | |||
Organization Consolidation And Presentation Of Financial Statements Disclosure And Significant Accounting Policies [Line Items] | |||
Estimated useful lives of core deposits | 10 years | ||
Buildings and Improvements [Member] | |||
Organization Consolidation And Presentation Of Financial Statements Disclosure And Significant Accounting Policies [Line Items] | |||
Estimated useful lives | 39 years | ||
Furniture and Fixtures [Member] | Minimum [Member] | |||
Organization Consolidation And Presentation Of Financial Statements Disclosure And Significant Accounting Policies [Line Items] | |||
Estimated useful lives | 4 years | ||
Furniture and Fixtures [Member] | Maximum [Member] | |||
Organization Consolidation And Presentation Of Financial Statements Disclosure And Significant Accounting Policies [Line Items] | |||
Estimated useful lives | 7 years | ||
Equipment [Member] | Minimum [Member] | |||
Organization Consolidation And Presentation Of Financial Statements Disclosure And Significant Accounting Policies [Line Items] | |||
Estimated useful lives | 4 years | ||
Equipment [Member] | Maximum [Member] | |||
Organization Consolidation And Presentation Of Financial Statements Disclosure And Significant Accounting Policies [Line Items] | |||
Estimated useful lives | 7 years |
Business Combinations - Additio
Business Combinations - Additional Information (Detail) $ in Thousands | 12 Months Ended | |||||
Dec. 31, 2019USD ($)Branch | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Feb. 08, 2019USD ($)Branch | Aug. 23, 2018Branch | May 04, 2018USD ($) | |
Business Acquisition [Line Items] | ||||||
Goodwill | $ 136,432 | $ 131,712 | $ 104,907 | |||
MidFirst Bank [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Acquisition-related costs | 902 | |||||
Acquisition-related costs after tax | 684 | |||||
Goodwill | $ 4,720 | $ 4,720 | ||||
Number of branches acquired | Branch | 3 | |||||
Total combined revenue | $ 200,807 | 183,022 | ||||
Net income | 25,216 | 33,856 | ||||
MidFirst Bank [Member] | Guymon, Oklahoma [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Number of branches | Branch | 2 | |||||
MidFirst Bank [Member] | Cordell, Oklahoma [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Number of branches | Branch | 1 | |||||
City Bank and Trust Company [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Number of branches | Branch | 1 | |||||
Acquisition-related costs | 1,387 | |||||
Acquisition-related costs after tax | 1,054 | |||||
Goodwill | $ 5,824 | $ 5,824 | ||||
Number of branches acquired | Branch | 1 | |||||
Kansas Bank Corporation [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Acquisition-related costs | 4,360 | 14 | ||||
Acquisition-related costs after tax | 3,349 | 9 | ||||
Goodwill | $ 14,010 | $ 14,010 | ||||
Number of branches acquired | Branch | 5 | |||||
Voting interest acquired | 100.00% | |||||
Adams Dairy Bancshares, Inc. [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Acquisition-related costs | 1,217 | 4 | ||||
Acquisition-related costs after tax | 961 | 2 | ||||
Goodwill | $ 8,465 | $ 8,465 | ||||
Number of branches acquired | Branch | 1 | |||||
Voting interest acquired | 100.00% | |||||
City Bank, KBC and Adams mergers [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Total combined revenue | 203,860 | 147,222 | ||||
Net income | $ 49,801 | $ 27,108 |
Business Combinations - Summary
Business Combinations - Summary of the Consideration Paid and the Amounts of Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Thousands | Feb. 08, 2019 | May 04, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Recognized amounts of identifiable assets acquired and liabilities assumed: | |||||
Goodwill | $ 136,432 | $ 131,712 | $ 104,907 | ||
MidFirst Bank [Member] | |||||
Recognized amounts of identifiable assets acquired and liabilities assumed: | |||||
Cash and due from banks | $ 85,360 | ||||
Loans | 6,507 | ||||
Premises and equipment | 656 | ||||
Core deposit intangibles | 1,350 | ||||
Other assets | 13 | ||||
Total assets acquired | 93,886 | ||||
Deposits | 98,543 | ||||
Interest payable and other liabilities | 63 | ||||
Total liabilities assumed | 98,606 | ||||
Total identifiable net assets | (4,720) | ||||
Goodwill | 4,720 | 4,720 | |||
City Bank and Trust Company [Member] | |||||
Fair value of consideration | |||||
Cash | 18,900 | ||||
Fair value consideration | 18,900 | ||||
Recognized amounts of identifiable assets acquired and liabilities assumed: | |||||
Cash and due from banks | 27,659 | ||||
Federal Reserve Bank and Federal Home Loan Bank stock | 881 | ||||
Loans | 77,148 | ||||
Premises and equipment | 2,044 | ||||
Core deposit intangibles | 3,360 | ||||
Other real estate owned | 307 | ||||
Other assets | 1,103 | ||||
Total assets acquired | 157,429 | ||||
Deposits | 126,853 | ||||
Federal Home Loan Bank advances | 17,353 | ||||
Interest payable and other liabilities | 147 | ||||
Total liabilities assumed | 144,353 | ||||
Total identifiable net assets | 13,076 | ||||
Goodwill | 5,824 | 5,824 | |||
Total | 18,900 | ||||
City Bank and Trust Company [Member] | Held to Maturity Securities [Member] | |||||
Recognized amounts of identifiable assets acquired and liabilities assumed: | |||||
Held-to maturity/Available-for-sale securities | $ 44,927 | ||||
Kansas Bank Corporation [Member] | |||||
Fair value of consideration | |||||
Common stock | $ 32,103 | ||||
Cash | 14,918 | ||||
Fair value consideration | 47,021 | ||||
Recognized amounts of identifiable assets acquired and liabilities assumed: | |||||
Cash and due from banks | 27,899 | ||||
Federal Reserve Bank and Federal Home Loan Bank stock | 475 | ||||
Loans | 159,359 | ||||
Premises and equipment | 5,835 | ||||
Core deposit intangibles | 8,080 | ||||
Other assets | 5,618 | ||||
Total assets acquired | 322,114 | ||||
Deposits | 288,352 | ||||
Interest payable and other liabilities | 751 | ||||
Total liabilities assumed | 289,103 | ||||
Total identifiable net assets | 33,011 | ||||
Goodwill | 14,010 | 14,010 | |||
Total | 47,021 | ||||
Kansas Bank Corporation [Member] | Available for Sale Securities [Member] | |||||
Recognized amounts of identifiable assets acquired and liabilities assumed: | |||||
Held-to maturity/Available-for-sale securities | 22,820 | ||||
Kansas Bank Corporation [Member] | Held to Maturity Securities [Member] | |||||
Recognized amounts of identifiable assets acquired and liabilities assumed: | |||||
Held-to maturity/Available-for-sale securities | 92,028 | ||||
Adams Dairy Bancshares, Inc. [Member] | |||||
Fair value of consideration | |||||
Common stock | 13,456 | ||||
Cash | 3,960 | ||||
Fair value consideration | 17,416 | ||||
Recognized amounts of identifiable assets acquired and liabilities assumed: | |||||
Cash and due from banks | 2,812 | ||||
Interest bearing time deposits in other banks | 4,237 | ||||
Federal Reserve Bank and Federal Home Loan Bank stock | 194 | ||||
Loans | 82,716 | ||||
Premises and equipment | 4,485 | ||||
Bank-owned life insurance | 2,869 | ||||
Core deposit intangibles | 1,990 | ||||
Other assets | 1,042 | ||||
Total assets acquired | 111,357 | ||||
Deposits | 97,124 | ||||
Federal Home Loan Bank advances | 1,000 | ||||
Interest payable and other liabilities | 4,282 | ||||
Total liabilities assumed | 102,406 | ||||
Total identifiable net assets | 8,951 | ||||
Goodwill | 8,465 | $ 8,465 | |||
Total | 17,416 | ||||
Adams Dairy Bancshares, Inc. [Member] | Available for Sale Securities [Member] | |||||
Recognized amounts of identifiable assets acquired and liabilities assumed: | |||||
Held-to maturity/Available-for-sale securities | 10,677 | ||||
Adams Dairy Bancshares, Inc. [Member] | Held to Maturity Securities [Member] | |||||
Recognized amounts of identifiable assets acquired and liabilities assumed: | |||||
Held-to maturity/Available-for-sale securities | $ 335 |
Business Combinations - Informa
Business Combinations - Information about Loans Acquired (Detail) - USD ($) $ in Thousands | Feb. 08, 2019 | May 04, 2018 |
MidFirst Bank [Member] | ||
Business Acquisition [Line Items] | ||
Fair value of acquired loans | $ 6,507 | |
MidFirst Bank [Member] | Non Credit Impaired Loans [Member] | ||
Business Acquisition [Line Items] | ||
Contractually required principal | 6,770 | |
Cash flows expected to be collected | 6,770 | |
Accretable yield | (263) | |
Fair value of acquired loans | 6,507 | |
City Bank and Trust Company [Member] | ||
Business Acquisition [Line Items] | ||
Fair value of acquired loans | 77,148 | |
City Bank and Trust Company [Member] | Non Credit Impaired Loans [Member] | ||
Business Acquisition [Line Items] | ||
Contractually required principal | 74,918 | |
Cash flows expected to be collected | 74,918 | |
Accretable yield | (1,750) | |
Fair value of acquired loans | 73,168 | |
City Bank and Trust Company [Member] | Purchase Credit Impaired Loans [Member] | ||
Business Acquisition [Line Items] | ||
Contractually required principal | 5,136 | |
Non-accretable difference (expected losses) | (1,156) | |
Cash flows expected to be collected | 3,980 | |
Fair value of acquired loans | $ 3,980 | |
Kansas Bank Corporation [Member] | ||
Business Acquisition [Line Items] | ||
Fair value of acquired loans | $ 159,359 | |
Kansas Bank Corporation [Member] | Non Credit Impaired Loans [Member] | ||
Business Acquisition [Line Items] | ||
Contractually required principal | 160,526 | |
Cash flows expected to be collected | 160,526 | |
Accretable yield | (3,928) | |
Fair value of acquired loans | 156,598 | |
Kansas Bank Corporation [Member] | Purchase Credit Impaired Loans [Member] | ||
Business Acquisition [Line Items] | ||
Contractually required principal | 5,066 | |
Non-accretable difference (expected losses) | (2,305) | |
Cash flows expected to be collected | 2,761 | |
Fair value of acquired loans | 2,761 | |
Adams Dairy Bancshares, Inc. [Member] | ||
Business Acquisition [Line Items] | ||
Fair value of acquired loans | 82,716 | |
Adams Dairy Bancshares, Inc. [Member] | Non Credit Impaired Loans [Member] | ||
Business Acquisition [Line Items] | ||
Contractually required principal | 84,225 | |
Cash flows expected to be collected | 84,225 | |
Accretable yield | (2,748) | |
Fair value of acquired loans | 81,477 | |
Adams Dairy Bancshares, Inc. [Member] | Purchase Credit Impaired Loans [Member] | ||
Business Acquisition [Line Items] | ||
Contractually required principal | 1,477 | |
Non-accretable difference (expected losses) | (238) | |
Cash flows expected to be collected | 1,239 | |
Fair value of acquired loans | $ 1,239 |
Business Combinations - Carryin
Business Combinations - Carrying Value of Loans Acquired (Detail) - USD ($) $ in Thousands | Feb. 08, 2019 | May 04, 2018 |
MidFirst Bank [Member] | ||
Business Acquisition [Line Items] | ||
Fair value of acquired loans | $ 6,507 | |
MidFirst Bank [Member] | Commercial Real Estate [Member] | ||
Business Acquisition [Line Items] | ||
Fair value of acquired loans | 668 | |
MidFirst Bank [Member] | Commercial and Industrial [Member] | ||
Business Acquisition [Line Items] | ||
Fair value of acquired loans | 34 | |
MidFirst Bank [Member] | Residential Real Estate [Member] | ||
Business Acquisition [Line Items] | ||
Fair value of acquired loans | 3,271 | |
MidFirst Bank [Member] | Consumer [Member] | ||
Business Acquisition [Line Items] | ||
Fair value of acquired loans | 2,534 | |
MidFirst Bank [Member] | Non Credit Impaired Loans [Member] | ||
Business Acquisition [Line Items] | ||
Fair value of acquired loans | 6,507 | |
MidFirst Bank [Member] | Non Credit Impaired Loans [Member] | Commercial Real Estate [Member] | ||
Business Acquisition [Line Items] | ||
Fair value of acquired loans | 668 | |
MidFirst Bank [Member] | Non Credit Impaired Loans [Member] | Commercial and Industrial [Member] | ||
Business Acquisition [Line Items] | ||
Fair value of acquired loans | 34 | |
MidFirst Bank [Member] | Non Credit Impaired Loans [Member] | Residential Real Estate [Member] | ||
Business Acquisition [Line Items] | ||
Fair value of acquired loans | 3,271 | |
MidFirst Bank [Member] | Non Credit Impaired Loans [Member] | Consumer [Member] | ||
Business Acquisition [Line Items] | ||
Fair value of acquired loans | 2,534 | |
City Bank and Trust Company [Member] | ||
Business Acquisition [Line Items] | ||
Fair value of acquired loans | 77,148 | |
City Bank and Trust Company [Member] | Commercial Real Estate [Member] | ||
Business Acquisition [Line Items] | ||
Fair value of acquired loans | 19,990 | |
City Bank and Trust Company [Member] | Commercial and Industrial [Member] | ||
Business Acquisition [Line Items] | ||
Fair value of acquired loans | 8,621 | |
City Bank and Trust Company [Member] | Residential Real Estate [Member] | ||
Business Acquisition [Line Items] | ||
Fair value of acquired loans | 27,514 | |
City Bank and Trust Company [Member] | Consumer [Member] | ||
Business Acquisition [Line Items] | ||
Fair value of acquired loans | 9,149 | |
City Bank and Trust Company [Member] | Agricultural Real Estate [Member] | ||
Business Acquisition [Line Items] | ||
Fair value of acquired loans | 5,571 | |
City Bank and Trust Company [Member] | Agricultural [Member] | ||
Business Acquisition [Line Items] | ||
Fair value of acquired loans | 6,303 | |
City Bank and Trust Company [Member] | Non Credit Impaired Loans [Member] | ||
Business Acquisition [Line Items] | ||
Fair value of acquired loans | 73,168 | |
City Bank and Trust Company [Member] | Non Credit Impaired Loans [Member] | Commercial Real Estate [Member] | ||
Business Acquisition [Line Items] | ||
Fair value of acquired loans | 17,398 | |
City Bank and Trust Company [Member] | Non Credit Impaired Loans [Member] | Commercial and Industrial [Member] | ||
Business Acquisition [Line Items] | ||
Fair value of acquired loans | 8,463 | |
City Bank and Trust Company [Member] | Non Credit Impaired Loans [Member] | Residential Real Estate [Member] | ||
Business Acquisition [Line Items] | ||
Fair value of acquired loans | 26,716 | |
City Bank and Trust Company [Member] | Non Credit Impaired Loans [Member] | Consumer [Member] | ||
Business Acquisition [Line Items] | ||
Fair value of acquired loans | 8,905 | |
City Bank and Trust Company [Member] | Non Credit Impaired Loans [Member] | Agricultural Real Estate [Member] | ||
Business Acquisition [Line Items] | ||
Fair value of acquired loans | 5,571 | |
City Bank and Trust Company [Member] | Non Credit Impaired Loans [Member] | Agricultural [Member] | ||
Business Acquisition [Line Items] | ||
Fair value of acquired loans | 6,115 | |
City Bank and Trust Company [Member] | Purchase Credit Impaired Loans [Member] | ||
Business Acquisition [Line Items] | ||
Fair value of acquired loans | 3,980 | |
City Bank and Trust Company [Member] | Purchase Credit Impaired Loans [Member] | Commercial Real Estate [Member] | ||
Business Acquisition [Line Items] | ||
Fair value of acquired loans | 2,592 | |
City Bank and Trust Company [Member] | Purchase Credit Impaired Loans [Member] | Commercial and Industrial [Member] | ||
Business Acquisition [Line Items] | ||
Fair value of acquired loans | 158 | |
City Bank and Trust Company [Member] | Purchase Credit Impaired Loans [Member] | Residential Real Estate [Member] | ||
Business Acquisition [Line Items] | ||
Fair value of acquired loans | 798 | |
City Bank and Trust Company [Member] | Purchase Credit Impaired Loans [Member] | Consumer [Member] | ||
Business Acquisition [Line Items] | ||
Fair value of acquired loans | 244 | |
City Bank and Trust Company [Member] | Purchase Credit Impaired Loans [Member] | Agricultural [Member] | ||
Business Acquisition [Line Items] | ||
Fair value of acquired loans | $ 188 | |
Kansas Bank Corporation [Member] | ||
Business Acquisition [Line Items] | ||
Fair value of acquired loans | $ 159,359 | |
Kansas Bank Corporation [Member] | Commercial Real Estate [Member] | ||
Business Acquisition [Line Items] | ||
Fair value of acquired loans | 96,467 | |
Kansas Bank Corporation [Member] | Commercial and Industrial [Member] | ||
Business Acquisition [Line Items] | ||
Fair value of acquired loans | 19,470 | |
Kansas Bank Corporation [Member] | Residential Real Estate [Member] | ||
Business Acquisition [Line Items] | ||
Fair value of acquired loans | 2,898 | |
Kansas Bank Corporation [Member] | Consumer [Member] | ||
Business Acquisition [Line Items] | ||
Fair value of acquired loans | 3,539 | |
Kansas Bank Corporation [Member] | Agricultural Real Estate [Member] | ||
Business Acquisition [Line Items] | ||
Fair value of acquired loans | 22,425 | |
Kansas Bank Corporation [Member] | Agricultural [Member] | ||
Business Acquisition [Line Items] | ||
Fair value of acquired loans | 14,560 | |
Kansas Bank Corporation [Member] | Non Credit Impaired Loans [Member] | ||
Business Acquisition [Line Items] | ||
Fair value of acquired loans | 156,598 | |
Kansas Bank Corporation [Member] | Non Credit Impaired Loans [Member] | Commercial Real Estate [Member] | ||
Business Acquisition [Line Items] | ||
Fair value of acquired loans | 94,492 | |
Kansas Bank Corporation [Member] | Non Credit Impaired Loans [Member] | Commercial and Industrial [Member] | ||
Business Acquisition [Line Items] | ||
Fair value of acquired loans | 18,848 | |
Kansas Bank Corporation [Member] | Non Credit Impaired Loans [Member] | Residential Real Estate [Member] | ||
Business Acquisition [Line Items] | ||
Fair value of acquired loans | 2,898 | |
Kansas Bank Corporation [Member] | Non Credit Impaired Loans [Member] | Consumer [Member] | ||
Business Acquisition [Line Items] | ||
Fair value of acquired loans | 3,539 | |
Kansas Bank Corporation [Member] | Non Credit Impaired Loans [Member] | Agricultural Real Estate [Member] | ||
Business Acquisition [Line Items] | ||
Fair value of acquired loans | 22,425 | |
Kansas Bank Corporation [Member] | Non Credit Impaired Loans [Member] | Agricultural [Member] | ||
Business Acquisition [Line Items] | ||
Fair value of acquired loans | 14,396 | |
Kansas Bank Corporation [Member] | Purchase Credit Impaired Loans [Member] | ||
Business Acquisition [Line Items] | ||
Fair value of acquired loans | 2,761 | |
Kansas Bank Corporation [Member] | Purchase Credit Impaired Loans [Member] | Commercial Real Estate [Member] | ||
Business Acquisition [Line Items] | ||
Fair value of acquired loans | 1,975 | |
Kansas Bank Corporation [Member] | Purchase Credit Impaired Loans [Member] | Commercial and Industrial [Member] | ||
Business Acquisition [Line Items] | ||
Fair value of acquired loans | 622 | |
Kansas Bank Corporation [Member] | Purchase Credit Impaired Loans [Member] | Agricultural [Member] | ||
Business Acquisition [Line Items] | ||
Fair value of acquired loans | 164 | |
Adams Dairy Bancshares, Inc. [Member] | ||
Business Acquisition [Line Items] | ||
Fair value of acquired loans | 82,716 | |
Adams Dairy Bancshares, Inc. [Member] | Commercial Real Estate [Member] | ||
Business Acquisition [Line Items] | ||
Fair value of acquired loans | 75,477 | |
Adams Dairy Bancshares, Inc. [Member] | Commercial and Industrial [Member] | ||
Business Acquisition [Line Items] | ||
Fair value of acquired loans | 1,421 | |
Adams Dairy Bancshares, Inc. [Member] | Residential Real Estate [Member] | ||
Business Acquisition [Line Items] | ||
Fair value of acquired loans | 4,955 | |
Adams Dairy Bancshares, Inc. [Member] | Consumer [Member] | ||
Business Acquisition [Line Items] | ||
Fair value of acquired loans | 863 | |
Adams Dairy Bancshares, Inc. [Member] | Non Credit Impaired Loans [Member] | ||
Business Acquisition [Line Items] | ||
Fair value of acquired loans | 81,477 | |
Adams Dairy Bancshares, Inc. [Member] | Non Credit Impaired Loans [Member] | Commercial Real Estate [Member] | ||
Business Acquisition [Line Items] | ||
Fair value of acquired loans | 74,657 | |
Adams Dairy Bancshares, Inc. [Member] | Non Credit Impaired Loans [Member] | Commercial and Industrial [Member] | ||
Business Acquisition [Line Items] | ||
Fair value of acquired loans | 1,002 | |
Adams Dairy Bancshares, Inc. [Member] | Non Credit Impaired Loans [Member] | Residential Real Estate [Member] | ||
Business Acquisition [Line Items] | ||
Fair value of acquired loans | 4,955 | |
Adams Dairy Bancshares, Inc. [Member] | Non Credit Impaired Loans [Member] | Consumer [Member] | ||
Business Acquisition [Line Items] | ||
Fair value of acquired loans | 863 | |
Adams Dairy Bancshares, Inc. [Member] | Purchase Credit Impaired Loans [Member] | ||
Business Acquisition [Line Items] | ||
Fair value of acquired loans | 1,239 | |
Adams Dairy Bancshares, Inc. [Member] | Purchase Credit Impaired Loans [Member] | Commercial Real Estate [Member] | ||
Business Acquisition [Line Items] | ||
Fair value of acquired loans | 820 | |
Adams Dairy Bancshares, Inc. [Member] | Purchase Credit Impaired Loans [Member] | Commercial and Industrial [Member] | ||
Business Acquisition [Line Items] | ||
Fair value of acquired loans | $ 419 |
Securities - Amortized Cost and
Securities - Amortized Cost and Fair Value of Securities Available-for-Sale (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Schedule Of Available For Sale Securities [Line Items] | ||
Available-for-Sale, Amortized Cost | $ 141,082 | $ 173,503 |
Available-for-Sale, Gross Unrealized Gains | 1,261 | 12 |
Available-for-Sale, Gross Unrealized Losses | (276) | (4,640) |
Available-for-Sale, Fair Value | 142,067 | 168,875 |
Residential Mortgage-Backed Securities (Issued by Government-Sponsored Entities) [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Available-for-Sale, Amortized Cost | 141,082 | 173,503 |
Available-for-Sale, Gross Unrealized Gains | 1,261 | 12 |
Available-for-Sale, Gross Unrealized Losses | (276) | (4,640) |
Available-for-Sale, Fair Value | $ 142,067 | $ 168,875 |
Securities - Amortized Cost a_2
Securities - Amortized Cost and Fair Value of Securities Held-to-Maturity (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Schedule Of Held To Maturity Securities [Line Items] | ||
Held-to-Maturity, Amortized Cost | $ 769,059 | $ 748,356 |
Held-to-Maturity, Gross Unrecognized Gains | 15,414 | 3,399 |
Held-to-Maturity, Gross Unrecognized Losses | (562) | (11,766) |
Held-to-Maturity, Fair Value | 783,911 | 739,989 |
U.S. Government Sponsored Entities [Member] | ||
Schedule Of Held To Maturity Securities [Line Items] | ||
Held-to-Maturity, Amortized Cost | 1,991 | 3,873 |
Held-to-Maturity, Gross Unrecognized Gains | 23 | 7 |
Held-to-Maturity, Gross Unrecognized Losses | (1) | (20) |
Held-to-Maturity, Fair Value | 2,013 | 3,860 |
Residential Mortgage-Backed Securities (Issued by Government-Sponsored Entities) [Member] | ||
Schedule Of Held To Maturity Securities [Line Items] | ||
Held-to-Maturity, Amortized Cost | 593,236 | 567,766 |
Held-to-Maturity, Gross Unrecognized Gains | 11,272 | 2,354 |
Held-to-Maturity, Gross Unrecognized Losses | (536) | (9,653) |
Held-to-Maturity, Fair Value | 603,972 | 560,467 |
Corporate [Member] | ||
Schedule Of Held To Maturity Securities [Line Items] | ||
Held-to-Maturity, Amortized Cost | 22,992 | 22,993 |
Held-to-Maturity, Gross Unrecognized Gains | 503 | 234 |
Held-to-Maturity, Gross Unrecognized Losses | (326) | |
Held-to-Maturity, Fair Value | 23,495 | 22,901 |
Small Business Administration Loan Pools [Member] | ||
Schedule Of Held To Maturity Securities [Line Items] | ||
Held-to-Maturity, Amortized Cost | 1,478 | 1,746 |
Held-to-Maturity, Gross Unrecognized Gains | 12 | |
Held-to-Maturity, Gross Unrecognized Losses | (18) | |
Held-to-Maturity, Fair Value | 1,490 | 1,728 |
State and Political Subdivisions [Member] | ||
Schedule Of Held To Maturity Securities [Line Items] | ||
Held-to-Maturity, Amortized Cost | 149,362 | 151,978 |
Held-to-Maturity, Gross Unrecognized Gains | 3,604 | 804 |
Held-to-Maturity, Gross Unrecognized Losses | (25) | (1,749) |
Held-to-Maturity, Fair Value | $ 152,941 | $ 151,033 |
Securities - Fair Value and Amo
Securities - Fair Value and Amortized Cost of Debt Securities by Contractual Maturity (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Investments Debt And Equity Securities [Abstract] | ||
Available-for-Sale, Amortized Cost, Mortgage-backed securities | $ 141,082 | |
Available-for-Sale, Amortized Cost | 141,082 | $ 173,503 |
Available-for-Sale, Fair Value, Mortgage-backed securities | 142,067 | |
Available-for-Sale, Fair Value, Total debt securities | 142,067 | 168,875 |
Held-to-Maturity, Amortized Cost, Within one year | 17,421 | |
Held-to-Maturity, Amortized Cost, One to five years | 35,169 | |
Held-to-Maturity, Amortized Cost, Five to ten years | 51,217 | |
Held-to-Maturity, Amortized Cost, After ten years | 72,016 | |
Held-to-Maturity, Amortized Cost, Mortgage-backed securities | 593,236 | |
Held-to-Maturity, Amortized Cost | 769,059 | 748,356 |
Held-to-Maturity, Fair Value, Within one year | 17,451 | |
Held-to-Maturity, Fair Value, One to five years | 36,004 | |
Held-to-Maturity, Fair Value, Five to ten years | 52,691 | |
Held-to-Maturity, Fair Value, After ten years | 73,793 | |
Held-to-Maturity, Fair Value, Mortgage-backed securities | 603,972 | |
Held-to-Maturity, Fair Value, Total debt securities | $ 783,911 | $ 739,989 |
Securities - Additional Informa
Securities - Additional Information (Detail) $ in Thousands | Dec. 31, 2019USD ($)Security | Dec. 31, 2018USD ($)Security |
Investments Debt And Equity Securities [Abstract] | ||
Carrying value of securities pledged as collateral | $ | $ 780,038 | $ 800,744 |
Number of securities of single issuer with book value greater than ten percent of stockholders equity | 0 | 0 |
Number of unrealized loss position, available-for-sale securities | 12 | |
Number of unrealized loss position, held-to-maturity securities | 99 |
Securities - Summary of Gross U
Securities - Summary of Gross Unrealized Losses and Fair Value of Securities (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Schedule Of Available For Sale Securities [Line Items] | ||
Total temporarily impaired securities, Available-for-sale securities, Less Than 12 Months, Fair Value | $ 2,017 | $ 48,332 |
Total temporarily impaired securities, Available-for-sale securities, Less Than 12 Months, Unrealized Loss | (3) | (575) |
Total temporarily impaired securities, Available-for-sale securities, 12 Months or More, Fair Value | 32,466 | 115,844 |
Total temporarily impaired securities, Available-for-sale securities, 12 Months or More, Unrealized Loss | (273) | (4,065) |
Total temporarily impaired securities, Available-for-sale securities, Fair Value | 34,483 | 164,176 |
Total temporarily impaired securities, Available-for-sale securities, Unrealized Loss | (276) | (4,640) |
Total temporarily impaired securities, Held-to-maturity securities, Less Than 12 Months, Fair Value | 28,828 | 81,067 |
Total temporarily impaired securities, Held-to-maturity securities, Less Than 12 Months, Unrealized Loss | (69) | (1,158) |
Total temporarily impaired securities, Held-to-maturity securities, 12 Months or More, Fair Value | 99,340 | 347,156 |
Total temporarily impaired securities, Held-to-maturity securities, 12 Months or More, Unrealized Loss | (661) | (12,243) |
Total temporarily impaired securities, Held-to-maturity securities, Fair Value | 128,168 | 428,223 |
Total temporarily impaired securities, Held-to-maturity securities, Unrealized Loss | (730) | (13,401) |
Residential Mortgage-Backed Securities (Issued by Government-Sponsored Entities) [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Total temporarily impaired securities, Available-for-sale securities, Less Than 12 Months, Fair Value | 2,017 | 48,332 |
Total temporarily impaired securities, Available-for-sale securities, Less Than 12 Months, Unrealized Loss | (3) | (575) |
Total temporarily impaired securities, Available-for-sale securities, 12 Months or More, Fair Value | 32,466 | 115,844 |
Total temporarily impaired securities, Available-for-sale securities, 12 Months or More, Unrealized Loss | (273) | (4,065) |
Total temporarily impaired securities, Available-for-sale securities, Fair Value | 34,483 | 164,176 |
Total temporarily impaired securities, Available-for-sale securities, Unrealized Loss | (276) | (4,640) |
Total temporarily impaired securities, Held-to-maturity securities, Less Than 12 Months, Fair Value | 26,246 | 31,270 |
Total temporarily impaired securities, Held-to-maturity securities, Less Than 12 Months, Unrealized Loss | (51) | (356) |
Total temporarily impaired securities, Held-to-maturity securities, 12 Months or More, Fair Value | 96,987 | 294,127 |
Total temporarily impaired securities, Held-to-maturity securities, 12 Months or More, Unrealized Loss | (639) | (10,579) |
Total temporarily impaired securities, Held-to-maturity securities, Fair Value | 123,233 | 325,397 |
Total temporarily impaired securities, Held-to-maturity securities, Unrealized Loss | (690) | (10,935) |
U.S. Government Sponsored Entities [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Total temporarily impaired securities, Held-to-maturity securities, Less Than 12 Months, Fair Value | 1,882 | |
Total temporarily impaired securities, Held-to-maturity securities, Less Than 12 Months, Unrealized Loss | (3) | |
Total temporarily impaired securities, Held-to-maturity securities, 12 Months or More, Fair Value | 999 | 982 |
Total temporarily impaired securities, Held-to-maturity securities, 12 Months or More, Unrealized Loss | (1) | (17) |
Total temporarily impaired securities, Held-to-maturity securities, Fair Value | 999 | 2,864 |
Total temporarily impaired securities, Held-to-maturity securities, Unrealized Loss | (1) | (20) |
Small Business Administration Loan Pools [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Total temporarily impaired securities, Held-to-maturity securities, Less Than 12 Months, Fair Value | 811 | |
Total temporarily impaired securities, Held-to-maturity securities, Less Than 12 Months, Unrealized Loss | (14) | |
Total temporarily impaired securities, Held-to-maturity securities, 12 Months or More, Fair Value | 1,728 | |
Total temporarily impaired securities, Held-to-maturity securities, 12 Months or More, Unrealized Loss | (37) | |
Total temporarily impaired securities, Held-to-maturity securities, Fair Value | 811 | 1,728 |
Total temporarily impaired securities, Held-to-maturity securities, Unrealized Loss | (14) | (37) |
State and Political Subdivisions [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Total temporarily impaired securities, Held-to-maturity securities, Less Than 12 Months, Fair Value | 1,771 | 40,415 |
Total temporarily impaired securities, Held-to-maturity securities, Less Than 12 Months, Unrealized Loss | (4) | (473) |
Total temporarily impaired securities, Held-to-maturity securities, 12 Months or More, Fair Value | 1,354 | 45,137 |
Total temporarily impaired securities, Held-to-maturity securities, 12 Months or More, Unrealized Loss | (21) | (1,561) |
Total temporarily impaired securities, Held-to-maturity securities, Fair Value | 3,125 | 85,552 |
Total temporarily impaired securities, Held-to-maturity securities, Unrealized Loss | $ (25) | (2,034) |
Corporate [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Total temporarily impaired securities, Held-to-maturity securities, Less Than 12 Months, Fair Value | 7,500 | |
Total temporarily impaired securities, Held-to-maturity securities, Less Than 12 Months, Unrealized Loss | (326) | |
Total temporarily impaired securities, Held-to-maturity securities, 12 Months or More, Fair Value | 5,182 | |
Total temporarily impaired securities, Held-to-maturity securities, 12 Months or More, Unrealized Loss | (49) | |
Total temporarily impaired securities, Held-to-maturity securities, Fair Value | 12,682 | |
Total temporarily impaired securities, Held-to-maturity securities, Unrealized Loss | $ (375) |
Securities - Proceeds from Sale
Securities - Proceeds from Sales and Associated Gains and Losses Reclassified from Other comprehensive Income to Income (Detail) $ in Thousands | 12 Months Ended |
Dec. 31, 2017USD ($) | |
Investments Debt And Equity Securities [Abstract] | |
Proceeds | $ 84,087 |
Gross gains | 271 |
Income tax expense on net realized gains | $ 103 |
Loans and Allowance for Loan _3
Loans and Allowance for Loan Losses - Categories of Loans (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Accounts Notes And Loans Receivable [Line Items] | ||||
Total loans | $ 2,556,652 | $ 2,575,408 | ||
Allowance for loan losses | (12,232) | (11,454) | $ (8,498) | $ (6,432) |
Net loans | 2,544,420 | 2,563,954 | ||
Commercial Real Estate [Member] | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Total loans | 1,158,022 | 1,251,992 | ||
Allowance for loan losses | (3,919) | (4,662) | (2,740) | (2,420) |
Commercial and Industrial [Member] | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Total loans | 592,052 | 582,527 | ||
Allowance for loan losses | (3,061) | (2,707) | (2,136) | (1,881) |
Residential Real Estate [Member] | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Total loans | 503,439 | 444,540 | ||
Allowance for loan losses | (2,676) | (2,320) | (2,262) | (1,765) |
Agricultural Real Estate [Member] | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Total loans | 141,868 | 139,332 | ||
Allowance for loan losses | (608) | (391) | (319) | (35) |
Consumer [Member] | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Total loans | 68,378 | 62,894 | ||
Allowance for loan losses | (1,422) | (1,070) | (768) | (266) |
Agricultural [Member] | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Total loans | 92,893 | 94,123 | ||
Allowance for loan losses | $ (546) | $ (304) | $ (273) | $ (65) |
Loans and Allowance for Loan _4
Loans and Allowance for Loan Losses - Additional Information (Detail) | Apr. 22, 2019USD ($) | Dec. 31, 2019USD ($)Pool | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) |
Accounts Notes And Loans Receivable [Line Items] | ||||
Loans | $ 2,544,420,000 | $ 2,563,954,000 | ||
Loans purchased at discount | 624,747,000 | 827,676,000 | $ 796,064,000 | |
Discount associated with loans purchased | 8,287,000 | 11,372,000 | 7,231,000 | |
Provision for loan losses | $ 14,500,000 | 18,354,000 | 3,961,000 | 2,953,000 |
Trouble debt restructurings, Impairment recognized | 4,994,000 | |||
Interest income recognized | 0 | |||
Outstanding commitments on loans | 0 | |||
Consumer Loans [Member] | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Over-draft deposit accounts | 815,000 | 1,279,000 | ||
Purchased Credit Impaired Loans [Member] | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Accretable yield | 3,127,000 | 3,785,000 | 1,980,000 | |
Interest income recognized | 2,227,000 | 1,096,000 | 1,785,000 | |
Provision for loan losses | 628,000 | 714,000 | $ 194,000 | |
Residential Real Estate Loan Pools [Member] | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Loans | 144,554,000 | $ 64,558,000 | ||
Payments to acquire loans | $ 130,502,000 | |||
Purchased pools of residential real estate | Pool | 8 |
Loans and Allowance for Loan _5
Loans and Allowance for Loan Losses - Schedule of Allowance for Loan Losses by Portfolio Segment Allowance (Detail) - USD ($) $ in Thousands | Apr. 22, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Allowance for Loan Losses, Beginning Balance | $ 11,454 | $ 8,498 | $ 6,432 | |
Provision for loan losses | $ 14,500 | 18,354 | 3,961 | 2,953 |
Loans charged-off | (18,690) | (3,757) | (2,135) | |
Recoveries | 1,114 | 2,752 | 1,248 | |
Allowance for Loan Losses, Ending Balance | 12,232 | 11,454 | 8,498 | |
Commercial Real Estate [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Allowance for Loan Losses, Beginning Balance | 4,662 | 2,740 | 2,420 | |
Provision for loan losses | 1,310 | 1,832 | (69) | |
Loans charged-off | (2,178) | (1,779) | (271) | |
Recoveries | 125 | 1,869 | 660 | |
Allowance for Loan Losses, Ending Balance | 3,919 | 4,662 | 2,740 | |
Commercial and Industrial [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Allowance for Loan Losses, Beginning Balance | 2,707 | 2,136 | 1,881 | |
Provision for loan losses | 14,193 | 636 | 651 | |
Loans charged-off | (13,911) | (118) | (431) | |
Recoveries | 72 | 53 | 35 | |
Allowance for Loan Losses, Ending Balance | 3,061 | 2,707 | 2,136 | |
Residential Real Estate [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Allowance for Loan Losses, Beginning Balance | 2,320 | 2,262 | 1,765 | |
Provision for loan losses | 941 | 97 | 604 | |
Loans charged-off | (1,077) | (293) | (350) | |
Recoveries | 492 | 254 | 243 | |
Allowance for Loan Losses, Ending Balance | 2,676 | 2,320 | 2,262 | |
Agricultural Real Estate [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Allowance for Loan Losses, Beginning Balance | 391 | 319 | 35 | |
Provision for loan losses | 213 | 146 | 287 | |
Loans charged-off | (43) | (93) | (16) | |
Recoveries | 47 | 19 | 13 | |
Allowance for Loan Losses, Ending Balance | 608 | 391 | 319 | |
Consumer [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Allowance for Loan Losses, Beginning Balance | 1,070 | 768 | 266 | |
Provision for loan losses | 1,387 | 1,188 | 1,236 | |
Loans charged-off | (1,394) | (1,431) | (1,025) | |
Recoveries | 359 | 545 | 291 | |
Allowance for Loan Losses, Ending Balance | 1,422 | 1,070 | 768 | |
Agricultural [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Allowance for Loan Losses, Beginning Balance | 304 | 273 | 65 | |
Provision for loan losses | 310 | 62 | 244 | |
Loans charged-off | (87) | (43) | (42) | |
Recoveries | 19 | 12 | 6 | |
Allowance for Loan Losses, Ending Balance | $ 546 | $ 304 | $ 273 |
Loans and Allowance for Loan _6
Loans and Allowance for Loan Losses - Schedule of Loans Evaluated for Impairment (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Financing Receivable Impaired [Line Items] | ||||
Individually evaluated for impairment, Allowance for loan losses | $ 935 | $ 912 | ||
Collectively evaluated for impairment, Allowance for loan losses | 11,017 | 9,634 | ||
Purchased credit impaired loans, Allowance for loan losses | 280 | 908 | ||
Total Allowance for Loan Losses | 12,232 | 11,454 | $ 8,498 | $ 6,432 |
Individually evaluated for impairment | 29,551 | 36,563 | ||
Collectively evaluated for impairment | 2,503,711 | 2,508,150 | ||
Purchased credit impaired loans | 23,390 | 30,695 | ||
Total Loans | 2,556,652 | 2,575,408 | ||
Commercial Real Estate [Member] | ||||
Financing Receivable Impaired [Line Items] | ||||
Individually evaluated for impairment, Allowance for loan losses | 281 | 242 | ||
Collectively evaluated for impairment, Allowance for loan losses | 3,581 | 3,695 | ||
Purchased credit impaired loans, Allowance for loan losses | 57 | 725 | ||
Total Allowance for Loan Losses | 3,919 | 4,662 | 2,740 | 2,420 |
Individually evaluated for impairment | 4,375 | 23,323 | ||
Collectively evaluated for impairment | 1,145,701 | 1,215,173 | ||
Purchased credit impaired loans | 7,946 | 13,496 | ||
Total Loans | 1,158,022 | 1,251,992 | ||
Commercial and Industrial [Member] | ||||
Financing Receivable Impaired [Line Items] | ||||
Individually evaluated for impairment, Allowance for loan losses | 199 | 185 | ||
Collectively evaluated for impairment, Allowance for loan losses | 2,848 | 2,493 | ||
Purchased credit impaired loans, Allowance for loan losses | 14 | 29 | ||
Total Allowance for Loan Losses | 3,061 | 2,707 | 2,136 | 1,881 |
Individually evaluated for impairment | 16,335 | 5,020 | ||
Collectively evaluated for impairment | 570,606 | 571,171 | ||
Purchased credit impaired loans | 5,111 | 6,336 | ||
Total Loans | 592,052 | 582,527 | ||
Residential Real Estate [Member] | ||||
Financing Receivable Impaired [Line Items] | ||||
Individually evaluated for impairment, Allowance for loan losses | 303 | 391 | ||
Collectively evaluated for impairment, Allowance for loan losses | 2,352 | 1,861 | ||
Purchased credit impaired loans, Allowance for loan losses | 21 | 68 | ||
Total Allowance for Loan Losses | 2,676 | 2,320 | 2,262 | 1,765 |
Individually evaluated for impairment | 7,358 | 4,434 | ||
Collectively evaluated for impairment | 493,309 | 437,219 | ||
Purchased credit impaired loans | 2,772 | 2,887 | ||
Total Loans | 503,439 | 444,540 | ||
Agricultural Real Estate [Member] | ||||
Financing Receivable Impaired [Line Items] | ||||
Individually evaluated for impairment, Allowance for loan losses | 56 | 22 | ||
Collectively evaluated for impairment, Allowance for loan losses | 459 | 367 | ||
Purchased credit impaired loans, Allowance for loan losses | 93 | 2 | ||
Total Allowance for Loan Losses | 608 | 391 | 319 | 35 |
Individually evaluated for impairment | 584 | 856 | ||
Collectively evaluated for impairment | 135,776 | 133,415 | ||
Purchased credit impaired loans | 5,508 | 5,061 | ||
Total Loans | 141,868 | 139,332 | ||
Consumer [Member] | ||||
Financing Receivable Impaired [Line Items] | ||||
Individually evaluated for impairment, Allowance for loan losses | 39 | 62 | ||
Collectively evaluated for impairment, Allowance for loan losses | 1,383 | 925 | ||
Purchased credit impaired loans, Allowance for loan losses | 83 | |||
Total Allowance for Loan Losses | 1,422 | 1,070 | 768 | 266 |
Individually evaluated for impairment | 381 | 678 | ||
Collectively evaluated for impairment | 67,972 | 61,978 | ||
Purchased credit impaired loans | 25 | 238 | ||
Total Loans | 68,378 | 62,894 | ||
Agricultural [Member] | ||||
Financing Receivable Impaired [Line Items] | ||||
Individually evaluated for impairment, Allowance for loan losses | 57 | 10 | ||
Collectively evaluated for impairment, Allowance for loan losses | 394 | 293 | ||
Purchased credit impaired loans, Allowance for loan losses | 95 | 1 | ||
Total Allowance for Loan Losses | 546 | 304 | $ 273 | $ 65 |
Individually evaluated for impairment | 518 | 2,252 | ||
Collectively evaluated for impairment | 90,347 | 89,194 | ||
Purchased credit impaired loans | 2,028 | 2,677 | ||
Total Loans | $ 92,893 | $ 94,123 |
Loans and Allowance for Loan _7
Loans and Allowance for Loan Losses - Impaired Loans, Segregated by Class of Loans (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Financing Receivable Impaired [Line Items] | ||
With no related allowance recorded, Unpaid Principal Balance | $ 28,323 | $ 27,774 |
With no related allowance recorded, Recorded Investment | 22,839 | 27,671 |
With no related allowance recorded, Average Recorded Investment | 17,197 | 13,832 |
With no related allowance recorded, Interest Income Recognized | 143 | 274 |
With an allowance recorded, Unpaid Principal Balance | 11,900 | 17,456 |
With an allowance recorded, Recorded Investment | 10,388 | 14,879 |
Allowance for Loan Losses Allocated | 1,215 | 1,820 |
With an allowance recorded, Average Recorded Investment | 30,058 | 9,584 |
With an allowance recorded, Interest Income Recognized | 167 | 308 |
Unpaid Principal Balance | 40,223 | 45,230 |
Recorded Investment | 33,227 | 42,550 |
Average Recorded Investment | 47,255 | 23,416 |
Interest Income Recognized | 310 | 582 |
Commercial Real Estate [Member] | ||
Financing Receivable Impaired [Line Items] | ||
With no related allowance recorded, Unpaid Principal Balance | 2,166 | 20,940 |
With no related allowance recorded, Recorded Investment | 2,150 | 20,902 |
With no related allowance recorded, Average Recorded Investment | 6,372 | 5,652 |
With no related allowance recorded, Interest Income Recognized | 82 | 150 |
With an allowance recorded, Unpaid Principal Balance | 3,469 | 8,700 |
With an allowance recorded, Recorded Investment | 2,749 | 7,179 |
Allowance for Loan Losses Allocated | 338 | 967 |
With an allowance recorded, Average Recorded Investment | 6,262 | 2,913 |
With an allowance recorded, Interest Income Recognized | 74 | 142 |
Commercial and Industrial [Member] | ||
Financing Receivable Impaired [Line Items] | ||
With no related allowance recorded, Unpaid Principal Balance | 20,152 | 3,446 |
With no related allowance recorded, Recorded Investment | 14,832 | 3,396 |
With no related allowance recorded, Average Recorded Investment | 4,617 | 5,629 |
With no related allowance recorded, Interest Income Recognized | 11 | 66 |
With an allowance recorded, Unpaid Principal Balance | 1,845 | 2,255 |
With an allowance recorded, Recorded Investment | 1,640 | 1,911 |
Allowance for Loan Losses Allocated | 213 | 214 |
With an allowance recorded, Average Recorded Investment | 15,150 | 1,068 |
With an allowance recorded, Interest Income Recognized | 21 | 53 |
Residential Real Estate [Member] | ||
Financing Receivable Impaired [Line Items] | ||
With no related allowance recorded, Unpaid Principal Balance | 4,395 | 533 |
With no related allowance recorded, Recorded Investment | 4,324 | 527 |
With no related allowance recorded, Average Recorded Investment | 4,193 | 744 |
With no related allowance recorded, Interest Income Recognized | 50 | 20 |
With an allowance recorded, Unpaid Principal Balance | 3,395 | 4,934 |
With an allowance recorded, Recorded Investment | 3,244 | 4,582 |
Allowance for Loan Losses Allocated | 324 | 459 |
With an allowance recorded, Average Recorded Investment | 6,221 | 4,188 |
With an allowance recorded, Interest Income Recognized | 59 | 74 |
Agricultural Real Estate [Member] | ||
Financing Receivable Impaired [Line Items] | ||
With no related allowance recorded, Unpaid Principal Balance | 1,610 | 2,038 |
With no related allowance recorded, Recorded Investment | 1,533 | 2,035 |
With no related allowance recorded, Average Recorded Investment | 1,750 | 1,364 |
With no related allowance recorded, Interest Income Recognized | 18 | |
With an allowance recorded, Unpaid Principal Balance | 1,142 | 261 |
With an allowance recorded, Recorded Investment | 1,015 | 242 |
Allowance for Loan Losses Allocated | 149 | 24 |
With an allowance recorded, Average Recorded Investment | 928 | 429 |
With an allowance recorded, Interest Income Recognized | 2 | 2 |
Consumer [Member] | ||
Financing Receivable Impaired [Line Items] | ||
With no related allowance recorded, Unpaid Principal Balance | 61 | |
With no related allowance recorded, Recorded Investment | 55 | |
With no related allowance recorded, Average Recorded Investment | 25 | 32 |
With no related allowance recorded, Interest Income Recognized | 2 | |
With an allowance recorded, Unpaid Principal Balance | 430 | 1,144 |
With an allowance recorded, Recorded Investment | 381 | 859 |
Allowance for Loan Losses Allocated | 39 | 145 |
With an allowance recorded, Average Recorded Investment | 694 | 568 |
With an allowance recorded, Interest Income Recognized | 9 | 33 |
Agricultural [Member] | ||
Financing Receivable Impaired [Line Items] | ||
With no related allowance recorded, Unpaid Principal Balance | 756 | |
With no related allowance recorded, Recorded Investment | 756 | |
With no related allowance recorded, Average Recorded Investment | 240 | 411 |
With no related allowance recorded, Interest Income Recognized | 18 | |
With an allowance recorded, Unpaid Principal Balance | 1,619 | 162 |
With an allowance recorded, Recorded Investment | 1,359 | 106 |
Allowance for Loan Losses Allocated | 152 | 11 |
With an allowance recorded, Average Recorded Investment | 803 | 418 |
With an allowance recorded, Interest Income Recognized | $ 2 | $ 4 |
Loans and Allowance for Loan _8
Loans and Allowance for Loan Losses - Schedule of Aging of Recorded Investment in Past Due Loans by Segment and Class of Loans (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Greater Than 90 Days Past Due Still On Accrual | $ 18 | |
Nonaccrual | $ 38,379 | 33,203 |
Loans Not Past Due | 2,514,239 | 2,533,803 |
Total Loans | 2,556,652 | 2,575,408 |
30 to 59 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing Receivables, Past Due | 2,567 | 3,280 |
60 to 89 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing Receivables, Past Due | 1,467 | 5,104 |
Commercial Real Estate [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Nonaccrual | 6,913 | 12,768 |
Loans Not Past Due | 1,149,700 | 1,237,663 |
Total Loans | 1,158,022 | 1,251,992 |
Commercial Real Estate [Member] | 30 to 59 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing Receivables, Past Due | 1,191 | 1,302 |
Commercial Real Estate [Member] | 60 to 89 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing Receivables, Past Due | 218 | 259 |
Commercial and Industrial [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Nonaccrual | 16,906 | 6,954 |
Loans Not Past Due | 575,061 | 572,597 |
Total Loans | 592,052 | 582,527 |
Commercial and Industrial [Member] | 30 to 59 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing Receivables, Past Due | 74 | 509 |
Commercial and Industrial [Member] | 60 to 89 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing Receivables, Past Due | 11 | 2,467 |
Residential Real Estate [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Greater Than 90 Days Past Due Still On Accrual | 18 | |
Nonaccrual | 8,013 | 5,257 |
Loans Not Past Due | 493,587 | 436,295 |
Total Loans | 503,439 | 444,540 |
Residential Real Estate [Member] | 30 to 59 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing Receivables, Past Due | 831 | 782 |
Residential Real Estate [Member] | 60 to 89 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing Receivables, Past Due | 1,008 | 2,188 |
Agricultural Real Estate [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Nonaccrual | 4,807 | 4,857 |
Loans Not Past Due | 136,924 | 134,445 |
Total Loans | 141,868 | 139,332 |
Agricultural Real Estate [Member] | 30 to 59 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing Receivables, Past Due | 59 | |
Agricultural Real Estate [Member] | 60 to 89 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing Receivables, Past Due | 78 | 30 |
Consumer [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Nonaccrual | 381 | 914 |
Loans Not Past Due | 67,457 | 61,322 |
Total Loans | 68,378 | 62,894 |
Consumer [Member] | 30 to 59 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing Receivables, Past Due | 402 | 501 |
Consumer [Member] | 60 to 89 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing Receivables, Past Due | 138 | 157 |
Agricultural [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Nonaccrual | 1,359 | 2,453 |
Loans Not Past Due | 91,510 | 91,481 |
Total Loans | 92,893 | 94,123 |
Agricultural [Member] | 30 to 59 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing Receivables, Past Due | 10 | 186 |
Agricultural [Member] | 60 to 89 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing Receivables, Past Due | $ 14 | $ 3 |
Loans and Allowance for Loan _9
Loans and Allowance for Loan Losses - Schedule of Risk Category of Loans by Class of Loans (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | $ 2,556,652 | $ 2,575,408 |
Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 2,491,065 | 2,489,353 |
Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 65,587 | 86,055 |
Commercial Real Estate [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 1,158,022 | 1,251,992 |
Commercial Real Estate [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 1,146,696 | 1,215,015 |
Commercial Real Estate [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 11,326 | 36,977 |
Commercial and Industrial [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 592,052 | 582,527 |
Commercial and Industrial [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 560,282 | 553,045 |
Commercial and Industrial [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 31,770 | 29,482 |
Residential Real Estate [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 503,439 | 444,540 |
Residential Real Estate [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 495,418 | 439,184 |
Residential Real Estate [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 8,021 | 5,356 |
Agricultural Real Estate [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 141,868 | 139,332 |
Agricultural Real Estate [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 132,065 | 129,285 |
Agricultural Real Estate [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 9,803 | 10,047 |
Consumer [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 68,378 | 62,894 |
Consumer [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 67,997 | 61,976 |
Consumer [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 381 | 918 |
Agricultural [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 92,893 | 94,123 |
Agricultural [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 88,607 | 90,848 |
Agricultural [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | $ 4,286 | $ 3,275 |
Loans and Allowance for Loan_10
Loans and Allowance for Loan Losses - Schedule of Recorded Investments in Purchase Credit Impaired Loans (Detail) - Purchased Credit Impaired Loans [Member] - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Acquired During Period [Line Items] | |||
Contractually required principal payments | $ 29,895 | $ 40,772 | $ 41,349 |
Discount | (6,505) | (10,077) | (12,492) |
Recorded investment | $ 23,390 | $ 30,695 | $ 28,857 |
Loans and Allowance for Loan_11
Loans and Allowance for Loan Losses - Schedule of Troubled Debt Restructurings by Class of Loans (Detail) $ in Thousands | 12 Months Ended |
Dec. 31, 2019USD ($)Loan | |
Financing Receivable Impaired [Line Items] | |
Trouble debt restructurings, Number of loans | Loan | 2 |
Trouble debt restructurings, Recorded investment | $ 15,508 |
Trouble debt restructurings, Impairment recognized | $ 4,994 |
Commercial Real Estate [Member] | |
Financing Receivable Impaired [Line Items] | |
Trouble debt restructurings, Number of loans | Loan | 1 |
Trouble debt restructurings, Recorded investment | $ 1,247 |
Commercial and Industrial [Member] | |
Financing Receivable Impaired [Line Items] | |
Trouble debt restructurings, Number of loans | Loan | 1 |
Trouble debt restructurings, Recorded investment | $ 14,261 |
Trouble debt restructurings, Impairment recognized | $ 4,994 |
Other Real Estate Owned - Sched
Other Real Estate Owned - Schedule for Changes in Other Real Estate Owned (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Real Estate [Abstract] | |||
Beginning of year | $ 6,372 | $ 7,907 | |
Transfers in | 3,984 | 3,228 | |
Acquired in acquisition | 307 | ||
Net (loss) gain on sales | (10) | (75) | $ 121 |
Proceeds from sales | (1,803) | (4,730) | (5,461) |
Other real estate | 8,543 | 6,637 | |
Additions to valuation reserve | (250) | (265) | |
Recorded investment | $ 8,293 | $ 6,372 | $ 7,907 |
Other Real Estate Owned - Summa
Other Real Estate Owned - Summary of Other Real Estate Owned Expense (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Real Estate [Abstract] | |||
Net loss (gain) on sales | $ 10 | $ 75 | $ (121) |
Gain on initial valuation of other real estate properties received | (191) | (920) | |
Provision for unrealized losses | 250 | 265 | 12 |
Operating expenses, net of rental income | 638 | 509 | 632 |
Other real estate owned | $ 707 | $ (71) | $ 523 |
Other Real Estate Owned - Addit
Other Real Estate Owned - Additional Information (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Real Estate [Abstract] | ||
Residential Real Estate Foreclosed Assets | $ 741 | $ 720 |
Mortgage Loans in Process of Foreclosure, Amount | $ 2,174 | $ 2,064 |
Premises and Equipment - Schedu
Premises and Equipment - Schedule of Premises and Equipment (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Property, Plant and Equipment [Line Items] | ||
Premises and equipment, gross | $ 103,800 | $ 96,321 |
Less: accumulated depreciation | (19,322) | (15,879) |
Premises and equipment, net | 84,478 | 80,442 |
Land [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Premises and equipment, gross | 17,018 | 16,988 |
Buildings and Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Premises and equipment, gross | 68,575 | 62,116 |
Furniture Fixtures and Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Premises and equipment, gross | $ 18,207 | $ 17,217 |
Premises and Equipment - Additi
Premises and Equipment - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Property Plant And Equipment [Abstract] | ||
Operating lease liabilities | $ 4,112 | |
Operating lease, right-of-use asset | $ 4,153 | |
Operating lease, rent expense | $ 695 | |
Sales-type lease, lease not yet commenced description | There were no sales and leaseback transactions, leverage leases, lease transactions with related parties or leases that had not yet commenced during the periods ended December 31, 2019, or 2018. |
Premises and Equipment - Sche_2
Premises and Equipment - Schedule of Right-of-use Asset and Lease Obligations by Type of Property (Detail) $ in Thousands | Dec. 31, 2019USD ($) |
Property, Plant and Equipment [Line Items] | |
Right-of-Use Asset | $ 4,153 |
Lease Liability | $ 4,112 |
Weighted Average Lease Term in Years | 16 years |
Weighted Average Discount Rate | 2.95% |
Land and Building Leases [Member] | |
Property, Plant and Equipment [Line Items] | |
Right-of-Use Asset | $ 4,153 |
Lease Liability | $ 4,112 |
Weighted Average Lease Term in Years | 16 years |
Weighted Average Discount Rate | 2.95% |
Premises and Equipment - Sche_3
Premises and Equipment - Schedule of Operating Lease Costs (Detail) $ in Thousands | 12 Months Ended |
Dec. 31, 2019USD ($) | |
Property Plant And Equipment [Abstract] | |
Operating lease cost | $ 726 |
Variable lease cost | 49 |
Total operating lease cost | $ 775 |
Premises and Equipment - Sche_4
Premises and Equipment - Schedule of Maturity Analysis of Operating Lease Liabilities and Reconciliation of Undiscounted Cash Flows to Total Operating Lease Liability (Detail) $ in Thousands | Dec. 31, 2019USD ($) |
Property Plant And Equipment [Abstract] | |
Due in one year or less | $ 660 |
Due after one year through two years | 503 |
Due after two years through three years | 504 |
Due after three years through four years | 388 |
Due after four years through five years | 214 |
Thereafter | 3,047 |
Total undiscounted cash flows | 5,316 |
Discount on cash flows | (1,204) |
Total | $ 4,112 |
Goodwill and Core Deposit Int_3
Goodwill and Core Deposit Intangibles - Schedule of Intangible Assets and Goodwill (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Finite-Lived Intangible Assets [Line Items] | |||
Goodwill, Beginning balance | $ 131,712 | $ 104,907 | |
Acquired in acquisition | 4,720 | 26,805 | |
Goodwill, Ending balance | 136,432 | 131,712 | $ 104,907 |
Beginning Balance | 21,725 | ||
Amortization | (3,168) | (2,443) | (1,025) |
Ending Balance | 19,907 | 21,725 | |
Core Deposits [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Beginning Balance | 21,725 | 10,738 | |
Acquired in acquisition | 1,350 | 13,430 | |
Amortization | (3,168) | (2,443) | |
Ending Balance | $ 19,907 | $ 21,725 | $ 10,738 |
Goodwill and Core Deposit Int_4
Goodwill and Core Deposit Intangibles - Schedule of Finite-Lived Intangible Assets, Future Amortization Expense (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Goodwill And Intangible Assets Disclosure [Abstract] | ||
Expensed in one year or less | $ 3,187 | |
Expensed after one year through two years | 3,124 | |
Expensed after two years through three years | 3,061 | |
Expensed after three years through four years | 2,779 | |
Expensed after four years through five years | 2,640 | |
Thereafter | 5,116 | |
Total | $ 19,907 | $ 21,725 |
Qualified Affordable Housing _2
Qualified Affordable Housing Project Investments- Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Schedule Of Investments [Abstract] | |||
Investment in qualified affordable housing projects | $ 8,663 | $ 6,689 | $ 4,604 |
Unfunded Commitment in qualified affordable housing projects | $ 5,836 | 3,965 | 1,967 |
Commitments expected to be fulfill | The Company expects to fulfill these commitments during the years 2020 through 2034. | ||
Amortization expense for qualified affordable housing project investments | $ 522 | 412 | 376 |
Tax credits from investment in affordable housing | $ 636 | $ 568 | $ 660 |
Derivative Financial Instrume_3
Derivative Financial Instruments - Additional Information (Detail) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Not Designated as Hedging Instrument [Member] | ||
Derivative [Line Items] | ||
Derivative, cap interest rate | 4.50% | |
Interest Rate Swaps [Member] | Not Designated as Hedging Instrument [Member] | ||
Derivative [Line Items] | ||
Weighted average maturity period | 8 years 9 months 18 days | 7 years 7 months 6 days |
Weighted average pay rate | 4.92% | 5.18% |
Weighted average receive rate | 4.92% | 5.18% |
Interest Rate Swaps [Member] | Fair Value Hedging [Member] | Designated as Hedging Instrument [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||
Derivative [Line Items] | ||
Weighted average maturity period | 7 years 3 months 18 days | 7 years 8 months 12 days |
Weighted average pay rate | 5.19% | 4.94% |
Weighted average receive rate | 4.78% | 5.10% |
Interest Rate Caps [Member] | Not Designated as Hedging Instrument [Member] | ||
Derivative [Line Items] | ||
Weighted average maturity period | 10 months 24 days |
Derivative Financial Instrume_4
Derivative Financial Instruments - Summary of Notional Balance and Fair Values of Derivatives Outstanding (Detail) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Derivatives, Fair Value [Line Items] | ||
Notional Amount | $ 120,368,000 | $ 57,080,000 |
Derivative Assets | 3,535,000 | 933,000 |
Derivative Liabilities | 4,076,000 | 777,000 |
Cash collateral, Derivative Assets | (531,000) | |
Cash collateral, Derivative Liabilities | (4,186,000) | (541,000) |
Netting adjustments, Derivative Assets | 182,000 | 289,000 |
Netting adjustments, Derivative Liabilities | 182,000 | 289,000 |
Net amount presented in balance sheet, Derivative Assets | 3,717,000 | 691,000 |
Net amount presented in balance sheet, Derivative Liabilities | 72,000 | 525,000 |
Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional Amount | 5,797,000 | 16,743,000 |
Derivative Assets | 30,000 | 242,000 |
Derivative Liabilities | 177,000 | |
Designated as Hedging Instrument [Member] | Interest Rate Swaps [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional Amount | 5,797,000 | 16,743,000 |
Derivative Assets | 30,000 | 242,000 |
Derivative Liabilities | 177,000 | |
Not Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional Amount | 114,571,000 | 40,337,000 |
Derivative Assets | 3,505,000 | 691,000 |
Derivative Liabilities | 3,899,000 | 777,000 |
Not Designated as Hedging Instrument [Member] | Interest Rate Swaps [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional Amount | 114,571,000 | 38,073,000 |
Derivative Assets | 3,505,000 | 690,000 |
Derivative Liabilities | $ 3,899,000 | 777,000 |
Not Designated as Hedging Instrument [Member] | Interest Rate Caps/Floors [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional Amount | 2,264,000 | |
Derivative Assets | $ 1,000 |
Derivative Financial Instrume_5
Derivative Financial Instruments - Summary of Net Gains or Losses on Derivatives and Hedging Activities (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Derivatives designated as hedging instruments: | |||
Total net gain (loss) related to fair value hedge ineffectiveness | $ 0 | $ 0 | $ 0 |
Derivatives not designated as hedging instruments: | |||
Total net gains (losses) related to derivatives not designated as hedging instruments | 307 | 202 | (1) |
Net gains (losses) on derivatives and hedging activities | 307 | 202 | (1) |
Interest Rate Swaps [Member] | |||
Derivatives designated as hedging instruments: | |||
Total net gain (loss) related to fair value hedge ineffectiveness | 0 | 0 | 0 |
Derivatives not designated as hedging instruments: | |||
Total net gains (losses) related to derivatives not designated as hedging instruments | $ 307 | $ 202 | |
Interest Rate Caps/Floors [Member] | |||
Derivatives not designated as hedging instruments: | |||
Total net gains (losses) related to derivatives not designated as hedging instruments | $ (1) |
Derivative Financial Instrume_6
Derivative Financial Instruments - Summary of Recorded Net Gains or Losses on Derivatives and Related Hedged Items in Fair Value Hedging Relationships (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Derivative Instruments, Gain (Loss) [Line Items] | |||
Net Fair Value Hedge Ineffectiveness | $ 0 | $ 0 | $ 0 |
Fair Value Hedging [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gain/(Loss) on Derivatives | (387) | 283 | 12 |
Gain/(Loss) on Hedged Items | 387 | (283) | (12) |
Net Fair Value Hedge Ineffectiveness | 0 | 0 | 0 |
Effect of Derivatives on Net Interest Income | 21 | (40) | (137) |
Fair Value Hedging [Member] | Commercial Real Estate [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gain/(Loss) on Derivatives | (387) | 283 | 12 |
Gain/(Loss) on Hedged Items | 387 | (283) | (12) |
Net Fair Value Hedge Ineffectiveness | 0 | 0 | 0 |
Effect of Derivatives on Net Interest Income | $ 21 | $ (40) | $ (137) |
Deposits - Additional Informati
Deposits - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Time Deposits [Line Items] | ||
Total time deposits that met or exceeded the FDIC insurance limit of $250,000 | $ 285,958 | $ 316,288 |
CDARS deposits included in time deposit balance | 9,503 | 131,107 |
Reciprocal Deposits [Member] | ||
Time Deposits [Line Items] | ||
Reciprocal customer funds placed in the CDARS program | $ 9,503 | $ 20,933 |
Reciprocal deposits, description | Reciprocal deposits are not considered brokered deposits as long as the aggregate balance is less than the lesser of 20% of total liabilities or $5 billion and Equity Bank is well capitalized and well rated. All non-reciprocal deposits and reciprocal deposits in excess of regulatory limits are considered brokered deposits. | |
Interest bearing domestic deposit, certificates of deposits | $ 5,000,000 | |
Reciprocal Deposits [Member] | Minimum [Member] | ||
Time Deposits [Line Items] | ||
Percentage of interest bearing domestic certificates of deposit liabilities to total liabilities | 20.00% |
Deposits - Summary of Scheduled
Deposits - Summary of Scheduled Maturities of Time Deposits (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Banking And Thrift [Abstract] | ||
Due in one year or less | $ 615,145 | |
Due after one year through two years | 122,102 | |
Due after two years through three years | 66,879 | |
Due after three years through four years | 16,213 | |
Due after four years through five years | 11,242 | |
Thereafter | 1,589 | |
Total | $ 833,170 | $ 1,007,906 |
Borrowings - Schedule of Federa
Borrowings - Schedule of Federal Funds Purchased and Retail Repurchase Agreements (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Federal Funds Purchased And Securities Sold Under Agreements To Repurchase [Abstract] | ||
Federal funds purchased | $ 0 | $ 0 |
Retail repurchase agreements | $ 35,708 | $ 50,068 |
Borrowings - Additional Informa
Borrowings - Additional Information (Detail) - USD ($) | Mar. 13, 2017 | Dec. 31, 2019 | Dec. 31, 2018 | Mar. 12, 2018 |
Debt Instrument [Line Items] | ||||
Drawing against Federal Home Loan Bank advances | $ 324,373,000 | $ 384,898,000 | ||
Line of credit facility maximum borrowing capacity | $ 30,000,000 | $ 40,000,000 | ||
Debt Instrument, Maturity Date | May 15, 2020 | |||
Debt Instrument, Term | 5 years | |||
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage | 0.20% | |||
Federal Home Loan Bank Line of Credit Advances [Member] | ||||
Debt Instrument [Line Items] | ||||
Drawing against Federal Home Loan Bank advances | $ 311,223,000 | $ 368,770,000 | ||
Weighted average interest rate on drawings | 1.79% | 2.65% | ||
Federal Home Loan Bank Advances [Member] | ||||
Debt Instrument [Line Items] | ||||
Letter of credit | $ 38,500,000 | $ 31,451,000 | ||
Line of credit facility maximum borrowing capacity | 811,394,000 | 951,196,000 | ||
Line of credit facility additional borrowing capacity | 448,278,000 | 534,627,000 | ||
Residential Mortgage-Backed Securities (Issued by Government-Sponsored Entities) [Member] | ||||
Debt Instrument [Line Items] | ||||
Residential mortgage-backed securities, fair value | $ 40,412,000 | $ 51,701,000 |
Borrowings - Schedule of Borrow
Borrowings - Schedule of Borrowing Usage and Interest Rate (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Debt Disclosure [Abstract] | ||
Average daily balance during the period | $ 42,459 | $ 43,536 |
Average interest rate during the period | 0.36% | 0.25% |
Maximum month-end balance during the period | $ 45,575 | $ 53,815 |
Weighted average interest rate at period-end | 0.40% | 0.28% |
Borrowings - Summary of Federal
Borrowings - Summary of Federal Home Loan Bank Advances (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Federal Home Loan Bank Advances [Line Items] | ||
Total Federal Home Loan Bank advances | $ 324,373 | $ 384,898 |
Federal Home Loan Bank Line of Credit Advances [Member] | ||
Federal Home Loan Bank Advances [Line Items] | ||
Total Federal Home Loan Bank advances | 311,223 | 368,770 |
Federal Home Loan Bank Fixed Rate Term Advances [Member] | ||
Federal Home Loan Bank Advances [Line Items] | ||
Total Federal Home Loan Bank advances | 13,095 | 16,049 |
Total Principal Outstanding [Member] | ||
Federal Home Loan Bank Advances [Line Items] | ||
Total Federal Home Loan Bank advances | 324,318 | 384,819 |
Federal Home Loan Bank Fixed Rate Term Advances, Fair Market Value Adjustments [Member] | ||
Federal Home Loan Bank Advances [Line Items] | ||
Total Federal Home Loan Bank advances | $ 55 | $ 79 |
Borrowings - Schedule of Future
Borrowings - Schedule of Future Principal Repayments (Detail) $ in Thousands | Dec. 31, 2019USD ($) |
Federal Home Loan Bank Advances [Member] | |
Debt Instrument Redemption [Line Items] | |
Due in one year or less | $ 314,211 |
Due after one year through two years | 2,357 |
Due after two years through three years | 2,357 |
Due after three years through four years | 2,357 |
Due after four years through five years | 1,857 |
Thereafter | 1,179 |
Total | 324,318 |
Bank Stock Loan [Member] | |
Debt Instrument Redemption [Line Items] | |
Due in one year or less | 1,774 |
Due after one year through two years | 1,774 |
Due after two years through three years | 1,774 |
Due after three years through four years | 2,674 |
Due after four years through five years | 994 |
Total | $ 8,990 |
Borrowings - Schedule of Bank S
Borrowings - Schedule of Bank Stock Loan Advances (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Debt Instrument Redemption [Line Items] | ||
Bank stock loan | $ 8,990 | $ 15,450 |
Bank Stock Loan [Member] | ||
Debt Instrument Redemption [Line Items] | ||
Bank stock loan | $ 8,990 | $ 15,450 |
Bank stock loan, Weighted Average Rate | 4.75% | 5.50% |
Subordinated Debentures - Addit
Subordinated Debentures - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Subordinated Borrowing [Line Items] | ||
Maturity date of trust preferred securities | May 15, 2020 | |
Floating rate subordinated debentures | $ 14,561 | $ 14,260 |
Estimated fair value of debentures | 8,270 | |
Community First Bancshares, Inc. [Member] | ||
Subordinated Borrowing [Line Items] | ||
Estimated fair value of debentures | 4,187 | |
Trust Preferred Securities [Member] | FCB Capital Trust II [Member] | ||
Subordinated Borrowing [Line Items] | ||
Variable rate trust preferred securities | $ 10,000 | $ 10,000 |
Quarterly distributions, trust preferred securities | Three-month LIBOR plus 2.00% | |
LIBOR plus rate, percentage | 2.00% | |
Interest rate on trust preferred securities | 3.99% | 4.44% |
Maturity date of trust preferred securities | Apr. 15, 2035 | |
Proceeds from the sale of the trust preferred securities and the issuance of common securities | $ 310 | |
Floating rate subordinated debentures | 10,310 | |
Trust Preferred Securities [Member] | FCB Capital Trust III [Member] | ||
Subordinated Borrowing [Line Items] | ||
Variable rate trust preferred securities | $ 5,000 | $ 5,000 |
Quarterly distributions, trust preferred securities | Three-month LIBOR plus 1.89% | |
LIBOR plus rate, percentage | 1.89% | |
Interest rate on trust preferred securities | 3.78% | 4.68% |
Maturity date of trust preferred securities | Jun. 15, 2037 | |
Proceeds from the sale of the trust preferred securities and the issuance of common securities | $ 155 | |
Floating rate subordinated debentures | $ 5,155 | |
Trust Preferred Securities [Member] | Community First Statutory Trust I [Member] | Community First Bancshares, Inc. [Member] | ||
Subordinated Borrowing [Line Items] | ||
Quarterly distributions, trust preferred securities | Three-month LIBOR plus 3.25% | |
LIBOR plus rate, percentage | 3.25% | |
Interest rate on trust preferred securities | 5.20% | 6.07% |
Maturity date of trust preferred securities | Dec. 26, 2032 |
Subordinated Debentures - Summa
Subordinated Debentures - Summary of Contractual Balance and Unamortized Fair Value Adjustments (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Brokers And Dealers [Abstract] | ||
Contractual balance | $ 20,620 | $ 20,620 |
Unamortized fair value adjustment | (6,059) | (6,360) |
Net book value | $ 14,561 | $ 14,260 |
Contractual Obligations - Addit
Contractual Obligations - Additional Information (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Commitments And Contingencies Disclosure [Abstract] | ||
Contractual obligation | $ 5,836 | $ 3,965 |
Stockholders' Equity - Addition
Stockholders' Equity - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands | May 04, 2018 | May 31, 2015 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2015 | Apr. 18, 2019 |
Class of Stock [Line Items] | |||||||
Preferred Stock, shares outstanding | 0 | 0 | 0 | ||||
Repurchase of shares | 421,016 | ||||||
Outstanding common stock at an average price paid per Share | $ 25.81 | ||||||
Tax benefit in connection with stock compensation expense | $ 224 | ||||||
Employee stock loan amount | $ 77 | $ 121 | |||||
Employee stock loan maturity date | Dec. 31, 2020 | ||||||
Employee stock loan interest rate | 1.60% | ||||||
Reclassification adjustment for net gains included in net income | $ 0 | 0 | $ 271 | ||||
Reclassification adjustment of accretion expense to taxable interest income on securities | $ 903 | $ 453 | $ 532 | ||||
Maximum [Member] | |||||||
Class of Stock [Line Items] | |||||||
Number of shares authorized to be repurchased | 1,100,000 | ||||||
Class A Common Stock [Member] | |||||||
Class of Stock [Line Items] | |||||||
Number of common stock shares authorized | 45,000,000 | ||||||
Shares issued, par value | $ 0.01 | ||||||
Shares issued to employees | 203,216 | ||||||
Class A Common Stock [Member] | Kansas Bank Corporation [Member] | |||||||
Class of Stock [Line Items] | |||||||
Stock Issued in connection with merger | 820,849 | ||||||
Class A Common Stock [Member] | Adams Dairy Bancshares, Inc. [Member] | |||||||
Class of Stock [Line Items] | |||||||
Stock Issued in connection with merger | 344,063 | ||||||
Class B Common Stock [Member] | |||||||
Class of Stock [Line Items] | |||||||
Number of common stock shares authorized | 5,000,000 | ||||||
Shares issued, par value | $ 0.01 |
Stockholders' Equity - Summary
Stockholders' Equity - Summary of Shares Issued and Held in Treasury or Outstanding (Detail) - shares | Dec. 31, 2019 | Dec. 31, 2018 |
Class A Common Stock [Member] | ||
Class of Stock [Line Items] | ||
Common stock - issued | 17,136,493 | 17,244,138 |
Common stock - held in treasury | (1,692,059) | (1,271,043) |
Common stock - outstanding | 15,444,434 | 15,973,095 |
Class B Common Stock [Member] | ||
Class of Stock [Line Items] | ||
Common stock - issued | 234,903 | 234,903 |
Common stock - held in treasury | (234,903) | (234,903) |
Common stock - outstanding | 0 | 0 |
Stockholders' Equity - Componen
Stockholders' Equity - Components of Accumulated Other Comprehensive Income (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Total | $ (3) | $ (4,867) |
Accumulated Net Unrealized Investment Gain (Losses) [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Net unrealized or unamortized gains (losses) | (3) | (6,519) |
Tax effect | 1,652 | |
Available for Sale Securities [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Total | 737 | (3,455) |
Available for Sale Securities [Member] | Accumulated Net Unrealized Investment Gain (Losses) [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Net unrealized or unamortized gains (losses) | 985 | (4,628) |
Tax effect | (248) | 1,173 |
Held to Maturity Securities [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Total | (740) | (1,412) |
Held to Maturity Securities [Member] | Accumulated Net Unrealized Investment Gain (Losses) [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Net unrealized or unamortized gains (losses) | (988) | (1,891) |
Tax effect | $ 248 | $ 479 |
Income Taxes - Schedule of Comp
Income Taxes - Schedule of Components of Income Tax Expense (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Current income tax expense | |||
Federal | $ 4,066 | $ 4,655 | $ 6,474 |
State | 1,649 | 2,212 | 1,282 |
Total current income tax expense | 5,715 | 6,867 | 7,756 |
Deferred income tax expense | |||
Federal | 1,444 | 2,933 | 2,550 |
State | 119 | 550 | 71 |
Total deferred income tax expense | 1,563 | 3,483 | 2,621 |
Total income tax expense | $ 7,278 | $ 10,350 | $ 10,377 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Income Tax [Line Items] | |||
Federal Statutory Income Tax Rate | 21.00% | 21.00% | 35.00% |
Tax Cuts and Jobs Act of 2017 change in tax rate income tax expense (benefit) | $ 1,086,000 | ||
Tax cuts and jobs act of 2017 additional income tax expense | $ 0 | ||
Decrease in net deferred tax assets related to unrealized or unamortized losses on securities | $ 535,000 | ||
Deferred tax liabilities | $ 12,133,000 | 12,016,000 | |
Acquired federal net operating losses | 196,000 | ||
Acquired federal tax credits | 974,000 | ||
MidFirst Bank [Member] | |||
Income Tax [Line Items] | |||
Deferred tax liabilities | $ 21,000 | ||
Kansas Bank Corporation [Member] | |||
Income Tax [Line Items] | |||
Deferred tax liabilities | 2,190,000 | ||
Deferred tax assets | 2,522,000 | ||
Adams Dairy Bancshares, Inc. [Member] | |||
Income Tax [Line Items] | |||
Deferred tax liabilities | 518,000 | ||
Deferred tax assets | 1,134,000 | ||
City Bank and Trust Company [Member] | |||
Income Tax [Line Items] | |||
Deferred tax assets | $ 34,000 | ||
Domestic Tax Authority [Member] | |||
Income Tax [Line Items] | |||
Operating loss carry forwards, expiration date | Between 2031 and 2033 | ||
Tax credits, expiration date | Between 2027 and 2033 | ||
State and Local Jurisdiction [Member] | Kansas [Member] | |||
Income Tax [Line Items] | |||
Operating loss carry forwards, expiration date | between 2020 and 2029 | ||
Operating loss carryforwards | $ 30,254,000 | ||
State and Local Jurisdiction [Member] | First Independence Corporation and Subsidiary [Member] | Kansas [Member] | |||
Income Tax [Line Items] | |||
Operating loss carry forwards, expiration date | between 2020 and 2024 | ||
Operating loss carryforwards | $ 2,469,000 |
Income Taxes - Schedule of Effe
Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Income Tax Disclosure [Abstract] | |||
Computed at the statutory rate | $ 6,900 | $ 9,697 | $ 10,862 |
Increase (decrease) resulting from: | |||
State and local taxes, net of federal benefit | 1,422 | 1,909 | 717 |
Tax-exempt interest | (885) | (844) | (1,177) |
Non-taxable life insurance income | (419) | (462) | (506) |
Non-deductible expenses | 353 | 264 | 376 |
Share-based payments | 18 | (23) | (335) |
Federal tax credits | (636) | (568) | (660) |
Change in valuation allowance | 396 | 655 | 187 |
Effect of tax reform | 1,086 | ||
Other | 129 | (278) | (173) |
Total income tax expense | $ 7,278 | $ 10,350 | $ 10,377 |
Income Taxes - Components of De
Income Taxes - Components of Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Deferred tax assets | ||
Allowance for loan losses | $ 3,076 | $ 2,880 |
Net unrealized or unamortized losses on securities | 1 | 1,639 |
Tax credit carryforwards | 974 | 974 |
Accrued compensation | 2,209 | 1,994 |
Net operating loss carryforwards | 1,337 | 1,003 |
Other real estate owned | 481 | 656 |
Acquired loans fair market value adjustments | 2,560 | 4,058 |
Other | 1,153 | 1,072 |
Gross deferred tax assets | 11,791 | 14,276 |
Deferred tax liabilities | ||
Assumed debt fair market value adjustments | 1,464 | 1,537 |
Goodwill amortization | 1,871 | 1,492 |
Depreciation | 3,934 | 3,288 |
Federal Home Loan Bank stock dividends | 267 | 1,123 |
Core deposit intangibles | 3,616 | 4,293 |
Other | 981 | 283 |
Gross deferred tax liabilities | 12,133 | 12,016 |
Valuation allowance | (1,623) | (1,227) |
Net deferred tax asset (liability) | $ (1,965) | |
Net deferred tax asset (liability) | $ 1,033 |
Regulatory Matters - Additional
Regulatory Matters - Additional Information (Detail) | 1 Months Ended | |
Jan. 31, 2016 | Dec. 31, 2019 | |
Regulated Operations [Abstract] | ||
CET1 capital ratio to be well capitalized under rules and prompt corrective provisions | 6.50% | |
Total Tier 1 capital ratio to be well capitalized under rules and prompt corrective provisions | 8.00% | |
Total capital ratio to be well capitalized under rules and prompt corrective provisions | 10.00% | |
Leverage ratio to be well capitalized under rules and prompt corrective provisions | 5.00% | |
Capital conservation buffer desired rate | 2.50% | |
Capital conservation buffer yearly increase | 0.625% |
Regulatory Matters - Summary of
Regulatory Matters - Summary of Company's and Equity Bank's Capital Amounts and Ratios (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Total capital to risk weighted assets, To Be Well Capitalized Under Prompt Corrective Provisions, Actual Ratio | 10.00% | |
Tier 1 capital to risk weighted assets, To Be Well Capitalized Under Prompt Corrective Provisions, Actual Ratio | 8.00% | |
Common equity Tier 1 capital to risk weighted assets, To Be Well Capitalized Under Prompt Corrective Provisions, Actual Ratio | 6.50% | |
Tier 1 leverage to average assets, To Be Well Capitalized Under Prompt Corrective Provisions, Actual Ratio | 5.00% | |
Equity Bancshares, Inc. [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Total capital to risk weighted assets, Actual Amount | $ 352,853 | $ 337,649 |
Total capital to risk weighted assets, Actual Ratio | 12.59% | 11.86% |
Tier 1 capital to risk weighted assets, Actual Amount | $ 340,621 | $ 326,195 |
Tier 1 capital to risk weighted assets, Actual Ratio | 12.15% | 11.45% |
Common equity Tier 1 capital to risk weighted assets, Actual Amount | $ 326,060 | $ 311,935 |
Common equity Tier 1 capital to risk weighted assets, Actual Ratio | 11.63% | 10.95% |
Tier 1 leverage to average assets, Actual Amount | $ 340,621 | $ 326,195 |
Tier 1 leverage to average assets, Actual Ratio | 9.02% | 8.60% |
Equity Bank [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Total capital to risk weighted assets, Actual Amount | $ 348,951 | $ 338,180 |
Total capital to risk weighted assets, Actual Ratio | 12.47% | 11.89% |
Total capital to risk weighted assets, Minimum Required for Capital Adequacy Purposes, Actual Amount | $ 279,921 | $ 284,400 |
Total capital to risk weighted assets, To Be Well Capitalized Under Prompt Corrective Provisions, Actual Ratio | 10.00% | 10.00% |
Tier 1 capital to risk weighted assets, Actual Amount | $ 336,719 | $ 326,726 |
Tier 1 capital to risk weighted assets, Actual Ratio | 12.03% | 11.49% |
Tier 1 capital to risk weighted assets, To Be Well Capitalized Under Prompt Corrective Provisions, Actual Amount | $ 223,937 | $ 227,520 |
Tier 1 capital to risk weighted assets, To Be Well Capitalized Under Prompt Corrective Provisions, Actual Ratio | 8.00% | 8.00% |
Common equity Tier 1 capital to risk weighted assets, Actual Amount | $ 336,719 | $ 326,726 |
Common equity Tier 1 capital to risk weighted assets, Actual Ratio | 12.03% | 11.49% |
Common equity Tier 1 capital to risk weighted assets, To Be Well Capitalized Under Prompt Corrective Provisions, Actual Amount | $ 181,949 | $ 184,860 |
Common equity Tier 1 capital to risk weighted assets, To Be Well Capitalized Under Prompt Corrective Provisions, Actual Ratio | 6.50% | 6.50% |
Tier 1 leverage to average assets, Actual Amount | $ 336,719 | $ 326,726 |
Tier 1 leverage to average assets, Actual Ratio | 8.92% | 8.62% |
Tier 1 leverage to average assets, To Be Well Capitalized Under Prompt Corrective Provisions, Actual Amount | $ 188,679 | $ 189,488 |
Tier 1 leverage to average assets, To Be Well Capitalized Under Prompt Corrective Provisions, Actual Ratio | 5.00% | 5.00% |
Basel III Phase-In [Member] | Equity Bancshares, Inc. [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Total capital to risk weighted assets, Minimum Required for Capital Adequacy Purposes, Actual Amount | $ 294,341 | $ 281,222 |
Total capital to risk weighted assets, Minimum Required for Capital Adequacy Purposes, Actual Ratio | 10.50% | 9.88% |
Tier 1 capital to risk weighted assets, Minimum Required for Capital Adequacy Purposes, Actual Amount | $ 238,276 | $ 224,266 |
Tier 1 capital to risk weighted assets, Minimum Required for Capital Adequacy Purposes, Actual Ratio | 8.50% | 7.88% |
Common equity Tier 1 capital to risk weighted assets, Minimum Required for Capital Adequacy Purposes, Actual Amount | $ 196,227 | $ 181,548 |
Common equity Tier 1 capital to risk weighted assets, Minimum Required for Capital Adequacy Purposes, Actual Ratio | 7.00% | 6.38% |
Tier 1 leverage to average assets, Minimum Required for Capital Adequacy Purposes, Actual Amount | $ 151,072 | $ 151,731 |
Tier 1 leverage to average assets, Minimum Required for Capital Adequacy Purposes, Actual Ratio | 4.00% | 4.00% |
Basel III Phase-In [Member] | Equity Bank [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Total capital to risk weighted assets, Minimum Required for Capital Adequacy Purposes, Actual Amount | $ 293,917 | $ 280,845 |
Total capital to risk weighted assets, Minimum Required for Capital Adequacy Purposes, Actual Ratio | 10.50% | 9.88% |
Tier 1 capital to risk weighted assets, Minimum Required for Capital Adequacy Purposes, Actual Amount | $ 237,933 | $ 223,965 |
Tier 1 capital to risk weighted assets, Minimum Required for Capital Adequacy Purposes, Actual Ratio | 8.50% | 7.88% |
Common equity Tier 1 capital to risk weighted assets, Minimum Required for Capital Adequacy Purposes, Actual Amount | $ 195,945 | $ 181,305 |
Common equity Tier 1 capital to risk weighted assets, Minimum Required for Capital Adequacy Purposes, Actual Ratio | 7.00% | 6.38% |
Tier 1 leverage to average assets, Minimum Required for Capital Adequacy Purposes, Actual Amount | $ 150,943 | $ 151,590 |
Tier 1 leverage to average assets, Minimum Required for Capital Adequacy Purposes, Actual Ratio | 4.00% | 4.00% |
Basel III Fully Phased-In [Member] | Equity Bancshares, Inc. [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Total capital to risk weighted assets, Minimum Required for Capital Adequacy Purposes, Actual Ratio | 10.50% | 10.50% |
Total capital to risk weighted assets, Minimum Required for Capital Adequacy Purposes, Actual Amount | $ 294,341 | $ 299,021 |
Tier 1 capital to risk weighted assets, Minimum Required for Capital Adequacy Purposes, Actual Amount | $ 238,276 | $ 242,065 |
Tier 1 capital to risk weighted assets, Minimum Required for Capital Adequacy Purposes, Actual Ratio | 8.50% | 8.50% |
Common equity Tier 1 capital to risk weighted assets, Minimum Required for Capital Adequacy Purposes, Actual Amount | $ 196,227 | $ 199,347 |
Common equity Tier 1 capital to risk weighted assets, Minimum Required for Capital Adequacy Purposes, Actual Ratio | 7.00% | 7.00% |
Tier 1 leverage to average assets, Minimum Required for Capital Adequacy Purposes, Actual Amount | $ 151,072 | $ 151,731 |
Tier 1 leverage to average assets, Minimum Required for Capital Adequacy Purposes, Actual Ratio | 4.00% | 4.00% |
Basel III Fully Phased-In [Member] | Equity Bank [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Total capital to risk weighted assets, Minimum Required for Capital Adequacy Purposes, Actual Ratio | 10.50% | 10.50% |
Total capital to risk weighted assets, Minimum Required for Capital Adequacy Purposes, Actual Amount | $ 293,917 | $ 298,619 |
Tier 1 capital to risk weighted assets, Minimum Required for Capital Adequacy Purposes, Actual Amount | $ 237,933 | $ 241,740 |
Tier 1 capital to risk weighted assets, Minimum Required for Capital Adequacy Purposes, Actual Ratio | 8.50% | 8.50% |
Common equity Tier 1 capital to risk weighted assets, Minimum Required for Capital Adequacy Purposes, Actual Amount | $ 195,945 | $ 199,080 |
Common equity Tier 1 capital to risk weighted assets, Minimum Required for Capital Adequacy Purposes, Actual Ratio | 7.00% | 7.00% |
Tier 1 leverage to average assets, Minimum Required for Capital Adequacy Purposes, Actual Amount | $ 150,943 | $ 151,590 |
Tier 1 leverage to average assets, Minimum Required for Capital Adequacy Purposes, Actual Ratio | 4.00% | 4.00% |
Related-Party Transactions - Ad
Related-Party Transactions - Additional Information (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Related Party Transactions [Abstract] | ||
Loans outstanding to related parties | $ 2,030 | $ 2,267 |
Deposits from related parties | $ 6,894 | $ 6,127 |
Related-Party Transactions - Ch
Related-Party Transactions - Changes in Loans Outstanding to Related Parties (Detail) $ in Thousands | 12 Months Ended |
Dec. 31, 2019USD ($) | |
Related Party Transactions [Abstract] | |
Beginning balance | $ 2,267 |
New loans/advances | 762 |
Repayments | (999) |
Ending balance | $ 2,030 |
Employee Benefits - Additional
Employee Benefits - Additional Information (Detail) | 12 Months Ended | ||
Dec. 31, 2019USD ($)ParticipantAgreement | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | |
Defined Benefit Plan Disclosure [Line Items] | |||
Employer Identification Number | 72-1532188 | ||
Pentegra Defined Benefit Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Employer Identification Number | 13-5645888 | ||
Plan number | 333 | ||
Number of collective bargaining agreements | Agreement | 0 | ||
Pentegra Defined Benefit Plan [Member] | Maximum [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Percentage of contributions to plan | 5.00% | ||
Pentegra Defined Benefit Plan [Member] | First Independence Corporation and Subsidiary [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Number of participants retaining benefits under the plan | Participant | 54 | ||
Defined Contribution Profit Sharing Plan And Retirement Savings 401 (k) Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Maximum contributions employees may contribute | $ 19,000 | ||
Employer contributions charged to expense | $ 826,000 | $ 885,000 | $ 704,000 |
Employee Benefits - Schedule of
Employee Benefits - Schedule of Net Pension Cost and Funded Status (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Schedule Of Net Pension Cost And Funded Status [Line Items] | ||
Net pension cost charged to salaries and employee benefits | $ 142 | $ 113 |
Pentegra defined benefit plan funded status as of July 1 | 108.59% | 109.86% |
Contributions paid to the plan | $ 109 | $ 93 |
Plan's Funded Status [Member] | ||
Schedule Of Net Pension Cost And Funded Status [Line Items] | ||
Pentegra defined benefit plan funded status as of July 1 | 91.40% | 94.30% |
Share-Based Payments - Addition
Share-Based Payments - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands | Jan. 27, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Tax benefit in connection with stock compensation expense | $ 224 | |||||
Stock-based compensation | $ 2,870 | $ 2,509 | $ 1,100 | |||
Amended and Restated 2013 Stock Incentive Plan [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Share-based compensation arrangement by share-based payment award, number of shares reserved | 1,500,000 | |||||
Stock issued during period share-based compensation, value | 9,104 | 1,375 | 1,457 | |||
Options, Granted | 61,019 | 99,935 | ||||
Fair values of stock options granted | $ 7.10 | $ 9.01 | $ 8.75 | |||
Amended and Restated 2013 Stock Incentive Plan [Member] | Stock Options [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Stock based compensation expense | $ 520 | $ 813 | $ 592 | |||
Tax benefit in connection with stock compensation expense | 131 | 205 | $ 226 | |||
Unrecognized compensation expense related to non-vested stock options | $ 1,100 | |||||
Unrecognized compensation expense not yet recognized, period for recognition | 6 years | |||||
Amended and Restated 2013 Stock Incentive Plan [Member] | Directors [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Stock based compensation expense | $ 160 | $ 53 | 46 | |||
Stock Option 2006 Plan [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Options, Vested and Exercisable | 150,000 | 150,000 | ||||
Options, Granted | 0 | 0 | ||||
Shares available for equity awards | 572,745 | |||||
Restricted Stock Unit Plan [Member] | Restricted Stock Units (RSUs) [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Stock based compensation expense | $ 1,991 | $ 1,643 | 80 | |||
Tax benefit in connection with stock compensation expense | $ 501 | 413 | $ 31 | |||
Unrecognized compensation expense related to non-vested stock options | $ 4,100 | |||||
Unrecognized compensation expense not yet recognized, period for recognition | 2 years | |||||
Share-based compensation arrangement by share-based payment award, award vesting period | 10 days | |||||
2019 ESPP [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Common stock reserved for future issuance | 500,000 | |||||
Common stock issued under employee stock purchase plan, share | 19,221 | |||||
Shares issued, price per share | $ 21.07 | |||||
First offering period, start date | Feb. 15, 2019 | |||||
First offering period ,end date | Aug. 14, 2019 | |||||
Second offering period, start date | Aug. 15, 2019 | |||||
Second offering period ,end date | Feb. 14, 2020 | |||||
Percentage of common stock price per share equal to lower of fair market value of common stock | 85.00% | |||||
Stock-based compensation | $ 119 |
Share-Based Payments - Summary
Share-Based Payments - Summary of Stock Option Activity (Detail) - Amended and Restated 2013 Stock Incentive Plan [Member] - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Options, Outstanding at beginning of year | 852,556 | 797,521 | |
Options, Granted | 61,019 | 99,935 | |
Options, Exercised | (20,402) | (6,800) | |
Options, Forfeited or expired | (107,415) | (38,100) | |
Options, Outstanding at end of year | 785,758 | 852,556 | 797,521 |
Options, Fully vested and expected to vest | 785,758 | 852,556 | |
Options, Exercisable at end of year | 609,323 | 565,847 | |
Weighted Average Exercise Price, Outstanding at beginning of year | $ 23.57 | $ 22.54 | |
Weighted Average Exercise Price, Granted | 32.43 | 34.69 | |
Weighted Average Exercise Price, Exercised | (18.22) | (19.49) | |
Weighted Average Exercise Price, Forfeited or expired | (32.56) | (31.97) | |
Weighted Average Exercise Price, Outstanding at end of year | 23.17 | 23.57 | $ 22.54 |
Weighted Average Exercise Price, Fully vested and expected to vest | 23.17 | 23.57 | |
Weighted Average Exercise Price, Exercisable at end of year | $ 20.45 | $ 19.44 | |
Weighted Average Remaining Contractual Term, Outstanding | 6 years | 7 years | 8 years |
Weighted Average Remaining Contractual Term, Granted | 10 years | 10 years | |
Weighted Average Remaining Contractual Term, Exercised | 6 years | 8 years | |
Weighted Average Remaining Contractual Term, Forfeited or expired | 9 years | 10 years | |
Weighted Average Remaining Contractual Term, Fully vested and expected to vest | 6 years | 7 years | |
Weighted Average Remaining Contractual Term, Exercisable at end of year | 5 years | 4 years | |
Aggregate Intrinsic Value, Outstanding at beginning of year | $ 6,896 | $ 10,044 | $ 10,261 |
Aggregate Intrinsic Value, Fully vested and expected to vest | 6,896 | 10,044 | |
Aggregate Intrinsic Value, Exercisable at end of year | $ 6,797 | $ 8,995 |
Share-Based Payments - Schedule
Share-Based Payments - Schedule of Fair Values of Options Granted (Detail) - Amended and Restated 2013 Stock Incentive Plan [Member] - Stock Options [Member] - $ / shares | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Risk free rate | 2.52% | 2.45% | 2.20% |
Market value of stock on grant date | $ 32.43 | $ 34.69 | $ 33.05 |
Expected term (in years) | 5 years 9 months 18 days | 6 years 3 months 18 days | 6 years 8 months 12 days |
Expected volatility | 15.71% | 19.71% | 19.66% |
Share-Based Payments - Summar_2
Share-Based Payments - Summary of Changes in Company's Non-vested RSUs (Detail) - Restricted Stock Units (RSUs) [Member] | 12 Months Ended |
Dec. 31, 2019$ / sharesshares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Non-vested Restricted Stock Units, Outstanding at beginning of year | shares | 132,107 |
Non-vested Restricted Stock Units, Granted | shares | 102,995 |
Non-vested Restricted Stock Units, Vested | shares | (23,628) |
Non-vested Restricted Stock Units, Forfeited | shares | (24,024) |
Non-vested Restricted Stock Units, Outstanding at end of year | shares | 187,450 |
Weighted Average Grant Date Fair Value, Outstanding at beginning of year | $ / shares | $ 36.78 |
Weighted Average Grant Date Fair Value, Granted | $ / shares | 32.01 |
Weighted Average Grant Date Fair Value, Vested | $ / shares | 36.29 |
Weighted Average Grant Date Fair Value, Forfeited | $ / shares | 34.14 |
Weighted Average Grant Date Fair Value, Outstanding at end of year | $ / shares | $ 34.56 |
Earnings Per Share - Summary of
Earnings Per Share - Summary of Earnings Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Basic: | |||
Net income allocable to common stockholders | $ 25,579 | $ 35,825 | $ 20,649 |
Weighted average common shares outstanding | 15,618,690 | 15,389,513 | 12,446,851 |
Weighted average vested restricted stock units | 1,201 | 4,403 | 1,751 |
Weighted average shares | 15,619,891 | 15,393,916 | 12,448,602 |
Basic earnings per common share | $ 1.64 | $ 2.33 | $ 1.66 |
Diluted: | |||
Net income allocable to common stockholders | $ 25,579 | $ 35,825 | $ 20,649 |
Weighted average common shares outstanding for: | |||
Basic earnings per common share | 15,619,891 | 15,393,916 | 12,448,602 |
Dilutive effects of the assumed exercise of stock options | 201,409 | 293,588 | 255,947 |
Dilutive effects of the assumed redemption of RSUs | 21,839 | 20,882 | 2,635 |
Average shares and dilutive potential common shares | 15,843,139 | 15,708,386 | 12,707,184 |
Diluted earnings per common share | $ 1.61 | $ 2.28 | $ 1.62 |
Earnings Per Share - Additional
Earnings Per Share - Additional Information (Detail) - shares | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Stock Options [Member] | Restricted Stock Units (RSUs) [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Average outstanding stock options, antidilutive | 310,960 | 26,419 | 141,891 |
Fair Value - Assets and Liabili
Fair Value - Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Fair Value Of Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Available for sale securities | $ 142,067 | $ 168,875 |
Cash collateral held by counterparty and netting adjustments | 182 | 289 |
Residential Mortgage-Backed Securities (Issued by Government-Sponsored Entities) [Member] | ||
Fair Value Of Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Available for sale securities | 142,067 | 168,875 |
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | ||
Fair Value Of Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Derivative assets | 182 | (242) |
Cash collateral held by counterparty and netting adjustments | 182 | (242) |
Equity securities with readily determinable fair value | 489 | 475 |
Total other assets | 489 | 475 |
Total assets | 671 | 233 |
Derivative liabilities | (4,004) | (252) |
Cash collateral held by counterparty and netting adjustments | (4,004) | (252) |
Total liabilities | (4,004) | (252) |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||
Fair Value Of Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Derivative assets | 3,535 | 933 |
Total assets | 145,602 | 169,808 |
Derivative liabilities | 4,076 | 777 |
Total liabilities | 4,076 | 777 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Other Assets [Member] | ||
Fair Value Of Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Derivative assets | 3,535 | 933 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Other Liabilities [Member] | ||
Fair Value Of Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Derivative liabilities | 4,076 | 777 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Residential Mortgage-Backed Securities (Issued by Government-Sponsored Entities) [Member] | ||
Fair Value Of Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Available for sale securities | $ 142,067 | $ 168,875 |
Fair Value - Additional Informa
Fair Value - Additional Information (Detail) - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Fair value, level transfers, Amount | $ 0 | $ 0 |
Assets Measured at Fair Value on a Non-recurring Basis [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Liabilities measured at fair value on a non-recurring basis | $ 0 | $ 0 |
Fair Value - Summary of Assets
Fair Value - Summary of Assets Measured at Fair Value on Non-recurring Basis (Detail) - Assets Measured at Fair Value on a Non-recurring Basis [Member] - Level 3 [Member] - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Impaired Loans [Member] | ||
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ||
Assets measured at fair value on non-recurring basis | $ 13,059 | |
Impaired Loans [Member] | Commercial Real Estate [Member] | ||
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ||
Assets measured at fair value on non-recurring basis | $ 2,411 | 6,212 |
Impaired Loans [Member] | Commercial and Industrial [Member] | ||
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ||
Assets measured at fair value on non-recurring basis | 15,688 | 1,697 |
Impaired Loans [Member] | Residential Real Estate [Member] | ||
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ||
Assets measured at fair value on non-recurring basis | 2,920 | 4,123 |
Impaired Loans [Member] | Agricultural Real Estate [Member] | ||
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ||
Assets measured at fair value on non-recurring basis | 866 | 218 |
Impaired Loans [Member] | Other [Member] | ||
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ||
Assets measured at fair value on non-recurring basis | 1,549 | 809 |
Other Real Estate Owned [Member] | Commercial Real Estate [Member] | ||
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ||
Assets measured at fair value on non-recurring basis | 1,268 | 1,391 |
Other Real Estate Owned [Member] | Residential Real Estate [Member] | ||
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ||
Assets measured at fair value on non-recurring basis | $ 42 | $ 97 |
Fair Value - Summary of Additio
Fair Value - Summary of Additional Information about Unobservable Inputs Used in Fair Value Measurement (Detail) - Fair Value, Measurements, Nonrecurring [Member] - Level 3 [Member] $ in Thousands | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) |
Impaired Real Estate Loans [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value | $ 9,173 | |
Alternative Investment Valuation Technique Extensible List | eqbk:SalesComparisonApproachMember | |
Impaired Real Estate Loans [Member] | Minimum [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Range | 0.03 | |
Impaired Real Estate Loans [Member] | Maximum [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Range | 0.12 | |
Impaired Real Estate Loans [Member] | Weighted Average [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Range | 0.08 | |
Impaired Other Loans [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value | $ 14,261 | |
Alternative Investment Valuation Technique Extensible List | eqbk:MultipleOfEarningsMember | |
Impaired Other Loans [Member] | Minimum [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Range | 0.045 | |
Impaired Other Loans [Member] | Maximum [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Range | 0.055 | |
Impaired Other Loans [Member] | Weighted Average [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Range | 0.050 | |
Impaired Other Real Estate Owned [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value | $ 1,310 | |
Alternative Investment Valuation Technique Extensible List | eqbk:SalesComparisonApproachMember | |
Impaired Other Real Estate Owned [Member] | Minimum [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Range | 0.10 | |
Impaired Other Real Estate Owned [Member] | Maximum [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Range | 0.55 | |
Impaired Other Real Estate Owned [Member] | Weighted Average [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Range | 0.32 | |
Impaired Loans [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value | $ 13,059 | |
Alternative Investment Valuation Technique Extensible List | eqbk:SalesComparisonApproachMember | |
Impaired Loans [Member] | Minimum [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Range | 0.04 | |
Impaired Loans [Member] | Maximum [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Range | 0.22 | |
Impaired Loans [Member] | Weighted Average [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Range | 0.13 |
Fair Value - Carrying Amounts a
Fair Value - Carrying Amounts and Estimated Fair Values of Financial Instrument (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | $ 89,291 | $ 192,818 |
Interest-bearing deposits | 2,498 | 4,991 |
Available-for-sale securities | 142,067 | 168,875 |
Held-to-maturity securities | 769,059 | 748,356 |
Loans held for sale | 5,933 | 2,972 |
Loans, net of allowance for loan losses | 2,544,420 | 2,563,954 |
Federal Reserve Bank and Federal Home Loan Bank stock | 31,137 | 29,214 |
Interest receivable | 15,738 | 17,372 |
Derivative assets | 3,535 | 933 |
Total assets | 3,949,578 | 4,061,716 |
Deposits | 3,063,516 | 3,123,447 |
Federal funds purchased and retail repurchase agreements | 35,708 | 50,068 |
Federal Home Loan Bank advances | 324,373 | 384,898 |
Bank stock loan | 8,990 | 15,450 |
Subordinated debentures | 14,561 | 14,260 |
Contractual obligations | 5,836 | 3,965 |
Derivative Liabilities | 4,076 | 777 |
Total liabilities | 3,471,518 | 3,605,775 |
Carrying Amount [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 89,291 | 192,818 |
Interest-bearing deposits | 2,498 | 4,991 |
Available-for-sale securities | 142,067 | 168,875 |
Held-to-maturity securities | 769,059 | 748,356 |
Loans held for sale | 5,933 | 2,972 |
Loans, net of allowance for loan losses | 2,544,420 | 2,563,954 |
Federal Reserve Bank and Federal Home Loan Bank stock | 31,137 | 29,214 |
Interest receivable | 15,738 | 17,372 |
Derivative assets | 3,535 | 933 |
Cash collateral held by derivative counterparty and netting adjustments | 182 | (242) |
Total derivative assets | 3,717 | 691 |
Equity securities with readily determinable fair value | 489 | 475 |
Total assets | 3,604,349 | 3,729,718 |
Deposits | 3,063,516 | 3,123,447 |
Federal funds purchased and retail repurchase agreements | 35,708 | 50,068 |
Federal Home Loan Bank advances | 324,373 | 384,898 |
Bank stock loan | 8,990 | 15,450 |
Subordinated debentures | 14,561 | 14,260 |
Contractual obligations | 5,836 | 3,965 |
Interest payable | 4,454 | 3,648 |
Derivative Liabilities | 4,076 | 777 |
Cash collateral held by derivative counterparty and netting adjustments | (4,004) | (252) |
Total derivative liabilities | 72 | 525 |
Total liabilities | 3,457,510 | 3,596,261 |
Estimated Fair Value [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 89,291 | 192,818 |
Interest-bearing deposits | 2,498 | 4,991 |
Available-for-sale securities | 142,067 | 168,875 |
Held-to-maturity securities | 783,911 | 739,989 |
Loans held for sale | 5,933 | 2,972 |
Loans, net of allowance for loan losses | 2,538,209 | 2,565,526 |
Interest receivable | 15,738 | 17,372 |
Derivative assets | 3,535 | 933 |
Cash collateral held by derivative counterparty and netting adjustments | 182 | (242) |
Total derivative assets | 3,717 | 691 |
Equity securities with readily determinable fair value | 489 | 475 |
Deposits | 3,070,305 | 3,124,654 |
Federal funds purchased and retail repurchase agreements | 35,708 | 50,068 |
Federal Home Loan Bank advances | 324,373 | 384,898 |
Bank stock loan | 8,990 | 15,450 |
Subordinated debentures | 14,561 | 14,260 |
Contractual obligations | 5,836 | 3,965 |
Interest payable | 4,454 | 3,648 |
Derivative Liabilities | 4,076 | 777 |
Cash collateral held by derivative counterparty and netting adjustments | (4,004) | (252) |
Total derivative liabilities | 72 | 525 |
Total liabilities | 3,464,299 | 3,597,468 |
Estimated Fair Value [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 89,291 | 192,818 |
Cash collateral held by derivative counterparty and netting adjustments | 182 | (242) |
Total derivative assets | 182 | (242) |
Equity securities with readily determinable fair value | 489 | 475 |
Cash collateral held by derivative counterparty and netting adjustments | (4,004) | (252) |
Total derivative liabilities | (4,004) | (252) |
Estimated Fair Value [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Interest-bearing deposits | 2,498 | 4,991 |
Available-for-sale securities | 142,067 | 168,875 |
Held-to-maturity securities | 783,911 | 739,989 |
Loans held for sale | 5,933 | 2,972 |
Interest receivable | 15,738 | 17,372 |
Derivative assets | 3,535 | 933 |
Total derivative assets | 3,535 | 933 |
Deposits | 3,070,305 | 3,124,654 |
Federal funds purchased and retail repurchase agreements | 35,708 | 50,068 |
Federal Home Loan Bank advances | 324,373 | 384,898 |
Bank stock loan | 8,990 | 15,450 |
Subordinated debentures | 14,561 | 14,260 |
Contractual obligations | 5,836 | 3,965 |
Interest payable | 4,454 | 3,648 |
Derivative Liabilities | 4,076 | 777 |
Total derivative liabilities | 4,076 | 777 |
Total liabilities | 3,468,303 | 3,597,720 |
Estimated Fair Value [Member] | Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans, net of allowance for loan losses | 2,538,209 | 2,565,526 |
Estimated Fair Value [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total assets | 3,581,853 | 3,693,709 |
Estimated Fair Value [Member] | Fair Value, Measurements, Nonrecurring [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total assets | 89,962 | 193,051 |
Estimated Fair Value [Member] | Fair Value, Measurements, Nonrecurring [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total assets | 953,682 | 935,132 |
Estimated Fair Value [Member] | Fair Value, Measurements, Nonrecurring [Member] | Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total assets | $ 2,538,209 | $ 2,565,526 |
Commitments and Credit Risk - S
Commitments and Credit Risk - Summary of Contractual Amounts of Commitments and Standby Letters of Credit to Originate Loans and Available Lines of Credit (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Standby Letters of Credit [Member] | ||
Commitments And Contingencies [Line Items] | ||
Loans commitments, Fixed Rate | $ 2,877 | $ 4,474 |
Loans commitments, Variable Rate | 3,352 | 2,716 |
Commitments to Make Loans [Member] | ||
Commitments And Contingencies [Line Items] | ||
Loans commitments, Fixed Rate | 41,916 | 29,543 |
Loans commitments, Variable Rate | 141,685 | 171,857 |
Mortgage Loans in the Process of Origination [Member] | ||
Commitments And Contingencies [Line Items] | ||
Loans commitments, Fixed Rate | 9,200 | 6,785 |
Loans commitments, Variable Rate | 2,473 | 2,860 |
Unused Lines of Credit [Member] | ||
Commitments And Contingencies [Line Items] | ||
Loans commitments, Fixed Rate | 95,866 | 92,225 |
Loans commitments, Variable Rate | $ 150,749 | $ 167,218 |
Commitments and Credit Risk - A
Commitments and Credit Risk - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2019 | |
Minimum [Member] | |
Commitments And Contingencies [Line Items] | |
Fixed interest rate loan commitments | 3.75% |
Fixed interest rate loan commitments maturity period | 1 month |
Maximum [Member] | |
Commitments And Contingencies [Line Items] | |
Fixed interest rate loan commitments | 8.09% |
Fixed interest rate loan commitments maturity period | 84 months |
Legal Matters - Additional Info
Legal Matters - Additional Information (Detail) - USD ($) $ in Thousands | Nov. 06, 2019 | Apr. 22, 2019 | Jan. 01, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Loss Contingencies [Line Items] | ||||||
Loss contingency damages value | $ 1,474 | |||||
Provision for loan losses | $ 14,500 | $ 18,354 | $ 3,961 | $ 2,953 | ||
Citi Mortgage, Inc [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Loss contingency damages value | $ 1,129 | |||||
Obligation to Repurchase Receivables Sold | Citi Mortgage, Inc [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Loss contingency damages value | $ 2,700 | |||||
Loss contingency, date of dismissal | Jan. 31, 2018 | |||||
Loss contingency recorded | $ 477 |
Revenue Recognition - Summary o
Revenue Recognition - Summary of Company's Source of Non-interest Income (Detail) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
Non-interest income | ||||
Increase in bank-owned life insurance | $ 1,998 | $ 2,199 | $ 1,445 | |
Net gain (loss) from securities transactions | 14 | (9) | 271 | |
Other | ||||
Total non-interest income | 24,988 | 19,725 | 15,440 | |
Service Charges and Fees [Member] | ||||
Non-interest income | ||||
Non-interest income | 8,672 | 7,250 | 5,319 | |
Other | ||||
Non-interest income | 8,672 | 7,250 | 5,319 | |
Debit Card Income [Member] | ||||
Non-interest income | ||||
Non-interest income | 8,230 | 6,178 | 4,547 | |
Other | ||||
Non-interest income | 8,230 | 6,178 | 4,547 | |
Mortgage Banking [Member] | ||||
Non-interest income | ||||
Non-interest income | 2,468 | 1,298 | 1,955 | |
Non-interest income | [1] | 2,468 | 1,298 | |
Other | ||||
Non-interest income | 2,468 | 1,298 | $ 1,955 | |
Accounting Standards Update 2014-09 [Member] | ||||
Non-interest income | ||||
Increase in bank-owned life insurance | [1] | 1,998 | 2,199 | |
Net gain (loss) from securities transactions | [1] | 14 | (9) | |
Other | ||||
Recovery on zero-basis purchased loans(a) | [1] | 143 | 420 | |
Income from equity method investments(a) | [1] | 26 | 7 | |
Other non-interest income not related to loans and deposits(a) | [1] | 87 | 49 | |
Total other non-interest income | 3,606 | 2,809 | ||
Total non-interest income | 24,988 | 19,725 | ||
Accounting Standards Update 2014-09 [Member] | Service Charges and Fees [Member] | ||||
Non-interest income | ||||
Non-interest income | 8,672 | 7,250 | ||
Other | ||||
Non-interest income | 8,672 | 7,250 | ||
Accounting Standards Update 2014-09 [Member] | Debit Card Income [Member] | ||||
Non-interest income | ||||
Non-interest income | 8,230 | 6,178 | ||
Other | ||||
Non-interest income | 8,230 | 6,178 | ||
Accounting Standards Update 2014-09 [Member] | Investment Referral Income [Member] | ||||
Non-interest income | ||||
Non-interest income | 590 | 395 | ||
Other | ||||
Non-interest income | 590 | 395 | ||
Accounting Standards Update 2014-09 [Member] | Trust Income [Member] | ||||
Non-interest income | ||||
Non-interest income | 243 | 81 | ||
Other | ||||
Non-interest income | 243 | 81 | ||
Accounting Standards Update 2014-09 [Member] | Insurance Sales Commissions [Member] | ||||
Non-interest income | ||||
Non-interest income | 177 | 245 | ||
Other | ||||
Non-interest income | 177 | 245 | ||
Accounting Standards Update 2014-09 [Member] | Other Non Interest Income Related To Loans and Deposits [Member] | ||||
Non-interest income | ||||
Non-interest income | 2,340 | 1,612 | ||
Other | ||||
Non-interest income | $ 2,340 | $ 1,612 | ||
[1] | (a) Not within the scope of ASC 606 |
Condensed Financial Informati_3
Condensed Financial Information (Parent Company Only) - Condensed Balance Sheet (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
ASSETS | ||||
Cash and due from banks | $ 88,973 | $ 192,735 | ||
Other assets | 25,222 | 19,808 | ||
Total assets | 3,949,578 | 4,061,716 | ||
LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||
Liabilities | 3,471,518 | 3,605,775 | ||
Stockholders' equity | 478,060 | 455,941 | $ 374,144 | $ 257,964 |
Total liabilities and stockholders’ equity | 3,949,578 | 4,061,716 | ||
Equity Bancshares, Inc. [Member] | ||||
ASSETS | ||||
Cash and due from banks | 2,991 | 1,540 | ||
Investment | 489,261 | 470,902 | ||
Other assets | 7,908 | 10,490 | ||
Total assets | 503,997 | 486,194 | ||
LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||
Liabilities | 25,937 | 30,253 | ||
Stockholders' equity | 478,060 | 455,941 | ||
Total liabilities and stockholders’ equity | 503,997 | 486,194 | ||
Equity Bancshares, Inc. [Member] | EBAC [Member] | ||||
ASSETS | ||||
Investment | $ 3,837 | $ 3,262 |
Condensed Financial Informati_4
Condensed Financial Information (Parent Company Only) - Condensed Statement of Income (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Expenses | |||
Interest expense | $ 49,641 | $ 36,758 | $ 16,691 |
Net income and net income allocable to common stockholders | 25,579 | 35,825 | 20,649 |
Equity Bancshares, Inc. [Member] | |||
Condensed Income Statements, Captions [Line Items] | |||
Dividends from Equity Bank | 23,000 | 30,500 | 17,250 |
Other income | 4 | 3 | 26 |
Total income | 23,004 | 30,503 | 17,276 |
Expenses | |||
Interest expense | 1,905 | 1,918 | 996 |
Other expenses | 2,254 | 3,358 | 3,018 |
Total expenses | 4,159 | 5,276 | 4,014 |
Income (loss) before income tax and equity in undistributed income of subsidiaries | 18,845 | 25,227 | 13,262 |
Income tax benefit | 1,081 | 1,025 | 2,017 |
Income (loss) before equity in undistributed income (loss) of subsidiaries | 19,926 | 26,252 | 15,279 |
Equity in undistributed income (loss) | 5,978 | 9,681 | 5,370 |
Net income and net income allocable to common stockholders | 25,579 | 35,825 | $ 20,649 |
Equity Bancshares, Inc. [Member] | EBAC [Member] | |||
Expenses | |||
Equity in undistributed income (loss) | $ (325) | $ (108) |
Condensed Financial Informati_5
Condensed Financial Information (Parent Company Only) - Condensed Statement of Cash Flows (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Cash flows from operating activities | |||
Net income | $ 25,579 | $ 35,825 | $ 20,649 |
Adjustments to reconcile net income to net cash from operating activities: | |||
Stock based compensation | 2,870 | 2,509 | 1,100 |
Net amortization of purchase valuation adjustments | (4,360) | (5,586) | (4,518) |
Net change in: | |||
Other assets | (3,823) | (5,738) | (673) |
Interest payable and other liabilities | (299) | 1,259 | 433 |
Net cash provided by operating activities | 48,521 | 36,666 | 27,628 |
Cash flows (to) from investing activities | |||
Proceeds from sale of other real estate owned | 1,803 | 4,730 | 5,461 |
Net cash (used in) provided by investing activities | 96,101 | (171,488) | (222,924) |
Cash flows (to) from financing activities | |||
Borrowings on bank stock loan | 7,209 | 22,500 | 2,500 |
Principal repayments on bank stock loan | (13,669) | (9,550) | (1,000) |
Proceeds from exercise of employee stock options | 371 | 133 | 1,215 |
Principal payments on employee stock loan | 44 | 121 | |
Proceeds from employee stock purchase plan | 405 | ||
Net cash provided by (used in) financing activities | (248,149) | 275,445 | 212,396 |
Net change in cash and cash equivalents | (103,527) | 140,623 | 17,100 |
Cash and cash equivalents, beginning of period | 192,818 | 52,195 | 35,095 |
Ending cash and cash equivalents | 89,291 | 192,818 | 52,195 |
Equity Bancshares, Inc. [Member] | |||
Cash flows from operating activities | |||
Net income | 25,579 | 35,825 | 20,649 |
Adjustments to reconcile net income to net cash from operating activities: | |||
Stock based compensation | 2,870 | 2,509 | 1,100 |
Equity in undistributed (income) loss | (5,978) | (9,681) | (5,370) |
Net amortization of purchase valuation adjustments | 301 | 292 | 284 |
Net change in: | |||
Other assets | (4,092) | (4,092) | (1,331) |
Interest payable and other liabilities | (147) | (50) | (1,419) |
Net cash provided by operating activities | 18,858 | 24,911 | 13,913 |
Cash flows (to) from investing activities | |||
Proceeds from sale of other real estate owned | 267 | ||
Net cash (used in) provided by investing activities | (900) | (40,655) | (33,159) |
Cash flows (to) from financing activities | |||
Borrowings on bank stock loan | 7,209 | 22,500 | 2,500 |
Principal repayments on bank stock loan | (13,669) | (9,550) | (1,000) |
Proceeds from exercise of employee stock options | 371 | 133 | 1,215 |
Principal payments on employee stock loan | 44 | 121 | |
Proceeds from employee stock purchase plan | 405 | ||
Purchase of treasury stock | (10,867) | ||
Net cash provided by (used in) financing activities | (16,507) | 13,083 | 2,836 |
Net change in cash and cash equivalents | 1,451 | (2,661) | (16,410) |
Cash and cash equivalents, beginning of period | 1,540 | 4,201 | 20,611 |
Ending cash and cash equivalents | 2,991 | 1,540 | 4,201 |
EBAC [Member] | Equity Bancshares, Inc. [Member] | |||
Adjustments to reconcile net income to net cash from operating activities: | |||
Equity in undistributed (income) loss | 325 | 108 | |
Cash flows (to) from investing activities | |||
Net cash paid for acquisition | $ (900) | (3,370) | |
Prairie State Bancshares, Inc. [Member] | |||
Cash flows (to) from investing activities | |||
Net cash paid for acquisition | (6,744) | ||
Prairie State Bancshares, Inc. [Member] | Equity Bancshares, Inc. [Member] | |||
Cash flows (to) from investing activities | |||
Net cash paid for acquisition | (12,510) | ||
Eastman National Bancshares, Inc. [Member] | |||
Cash flows (to) from investing activities | |||
Net cash paid for acquisition | (55) | 6,108 | |
Eastman National Bancshares, Inc. [Member] | Equity Bancshares, Inc. [Member] | |||
Cash flows (to) from investing activities | |||
Net cash paid for acquisition | (55) | (7,813) | |
Cache Holdings, Inc. [Member] | |||
Cash flows (to) from investing activities | |||
Net cash paid for acquisition | (2,857) | ||
Cache Holdings, Inc. [Member] | Equity Bancshares, Inc. [Member] | |||
Cash flows (to) from investing activities | |||
Net cash paid for acquisition | $ (13,103) | ||
Kansas Bank Corporation [Member] | |||
Cash flows (to) from investing activities | |||
Net cash paid for acquisition | 12,774 | ||
Kansas Bank Corporation [Member] | Equity Bancshares, Inc. [Member] | |||
Cash flows (to) from investing activities | |||
Net cash paid for acquisition | (14,151) | ||
Adams Dairy Bancshares, Inc. [Member] | |||
Cash flows (to) from investing activities | |||
Net cash paid for acquisition | (1,385) | ||
Adams Dairy Bancshares, Inc. [Member] | Equity Bancshares, Inc. [Member] | |||
Cash flows (to) from investing activities | |||
Net cash paid for acquisition | (4,179) | ||
City Bank and Trust Company [Member] | |||
Cash flows (to) from investing activities | |||
Net cash paid for acquisition | 8,759 | ||
City Bank and Trust Company [Member] | Equity Bancshares, Inc. [Member] | |||
Cash flows (to) from investing activities | |||
Net cash paid for acquisition | $ (18,900) |