Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2020 | Apr. 27, 2020 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0001430723 | |
Entity Registrant Name | ServisFirst Bancshares, Inc. | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2020 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Mar. 31, 2020 | |
Document Transition Report | false | |
Entity File Number | 001-36452 | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 26-0734029 | |
Entity Address, Address Line One | 2500 Woodcrest Place | |
Entity Address, City or Town | Birmingham | |
Entity Address, State or Province | AL | |
Entity Address, Postal Zip Code | 35209 | |
City Area Code | 205 | |
Local Phone Number | 949-0302 | |
Title of 12(b) Security | Common stock, par value $.001 per share | |
Trading Symbol | SFBS | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 53,844,009 |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 | [1] |
ASSETS | |||
Cash and due from banks | $ 80,461 | $ 78,618 | |
Interest-bearing balances due from depository institutions | 297,943 | 451,509 | |
Federal funds sold | 306,127 | 100,473 | |
Cash and cash equivalents | 684,531 | 630,600 | |
Available for sale debt securities, at fair value | 826,782 | 759,399 | |
Held to maturity debt securities (fair value of $250 at March 31, 2020 and December 31, 2019) | 250 | 250 | |
Mortgage loans held for sale | 6,747 | 6,312 | |
Loans | 7,568,836 | 7,261,451 | |
Less allowance for loan losses | (85,414) | (76,584) | |
Loans, net | 7,483,422 | 7,184,867 | |
Premises and equipment, net | 55,992 | 56,496 | |
Accrued interest and dividends receivable | 25,314 | 26,262 | |
Deferred tax assets, net | 23,723 | 25,566 | |
Other real estate owned and repossessed assets | 7,448 | 8,178 | |
Bank owned life insurance contracts | 210,847 | 209,395 | |
Goodwill and other identifiable intangible assets | 14,111 | 14,179 | |
Other assets | 25,715 | 26,149 | |
Total assets | 9,364,882 | 8,947,653 | |
Liabilities: | |||
Noninterest-bearing | 1,925,626 | 1,749,879 | |
Interest-bearing | 5,907,029 | 5,780,554 | |
Total deposits | 7,832,655 | 7,530,433 | |
Federal funds purchased | 543,623 | 470,749 | |
Other borrowings | 64,707 | 64,703 | |
Accrued interest payable | 12,399 | 11,934 | |
Other liabilities | 29,613 | 27,152 | |
Total liabilities | 8,482,997 | 8,104,971 | |
Stockholders' equity: | |||
Preferred stock, par value $0.001 per share; 1,000,000 authorized and undesignated at March 31, 2020 and December 31, 2019 | 0 | 0 | |
Common stock, par value $0.001 per share; 100,000,000 shares authorized; 53,844,009 shares issued and outstanding at March 31, 2020, and 53,623,740 shares issued and outstanding at December 31, 2019 | 54 | 54 | |
Additional paid-in capital | 221,901 | 219,766 | |
Retained earnings | 641,980 | 616,611 | |
Accumulated other comprehensive income | 17,448 | 5,749 | |
Total stockholders' equity attributable to ServisFirst Bancshares, Inc. | 881,383 | 842,180 | |
Noncontrolling interest | 502 | 502 | |
Total stockholders' equity | 881,885 | 842,682 | |
Total liabilities and stockholders' equity | $ 9,364,882 | $ 8,947,653 | |
[1] | derived from audited financial statements. |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Held to maturity debt securities, fair value | $ 250 | $ 250 |
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized (in shares) | 1,000,000 | 1,000,000 |
Preferred stock, undesignated (in shares) | 1,000,000 | 1,000,000 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, authorized (in shares) | 100,000,000 | 100,000,000 |
Common stock, issued (in shares) | 53,844,009 | 53,623,740 |
Common stock, outstanding (in shares) | 53,844,009 | 53,623,740 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Interest and fees on loans | $ 89,385 | $ 85,524 |
Taxable securities | 5,154 | 3,746 |
Nontaxable securities | 233 | 446 |
Federal funds sold | 277 | 1,219 |
Other interest and dividends | 1,718 | 2,764 |
Total interest income | 96,767 | 93,699 |
Deposits | 16,745 | 22,145 |
Borrowed funds | 2,382 | 2,776 |
Total interest expense | 19,127 | 24,921 |
Net interest income | 77,640 | 68,778 |
Provision for loan losses | 13,584 | 4,885 |
Net interest income after provision for loan losses | 64,056 | 63,893 |
Increase in cash surrender value life insurance | 1,453 | 762 |
Other operating income | 469 | 329 |
Total noninterest income | 6,674 | 4,944 |
Salaries and employee benefits | 15,658 | 14,265 |
Equipment and occupancy | 2,400 | 2,259 |
Third party processing and other services | 3,345 | 2,411 |
Professional services | 948 | 994 |
FDIC and other regulatory assessments | 1,332 | 1,019 |
Other real estate owned | 601 | 22 |
Other operating expense | 3,636 | 4,358 |
Total noninterest expense | 27,920 | 25,328 |
Income before income taxes | 42,810 | 43,509 |
Provision for income taxes | 8,032 | 8,499 |
Net income | 34,778 | 35,010 |
Dividends on preferred stock | 0 | 0 |
Net income available to common stockholders | $ 34,778 | $ 35,010 |
Basic earnings per common share (in dollars per share) | $ 0.65 | $ 0.65 |
Diluted earnings per common share (in dollars per share) | $ 0.64 | $ 0.65 |
Deposit Account [Member] | ||
Noninterest income | $ 1,916 | $ 1,702 |
Mortgage Banking [Member] | ||
Noninterest income | 1,071 | 575 |
Credit Card [Member] | ||
Noninterest income | $ 1,765 | $ 1,576 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2020 | Dec. 31, 2019 | |
Net income | $ 34,778 | $ 35,010 |
Other comprehensive income, net of tax: | ||
Unrealized net holding gains arising during period from securities available for sale, net of tax of $3,110 and $1,002 for 2020 and 2019, respectively | 11,699 | 3,772 |
Comprehensive income | $ 46,477 | $ 38,782 |
Consolidated Statements of Co_2
Consolidated Statements of Comprehensive Income (Unaudited) (Parentheticals) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2020 | Dec. 31, 2019 | |
Unrealized holding gain (loss) from available for sale securities, tax | $ 3,110 | $ 1,002 |
Consolidated Statement of Stock
Consolidated Statement of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands | Common Stock [Member] | Preferred Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Noncontrolling Interest [Member] | Total | |
Balance (in shares) at Dec. 31, 2018 | 53,375,195 | |||||||
Balance at Dec. 31, 2018 | $ 53 | $ 0 | $ 218,521 | $ 500,868 | $ (4,741) | $ 502 | $ 715,203 | |
Common dividends declared | $ 0 | 0 | 0 | (8,025) | 0 | 0 | (8,025) | |
Issue restricted shares pursuant to stock incentives (in shares) | 2,700 | |||||||
Issue shares of common stock upon exercise of stock options (in shares) | 117,313 | |||||||
Issue shares of common stock upon exercise of stock options | $ 0 | 0 | 797 | 0 | 0 | 0 | 797 | |
Shares of common stock withheld in net settlement upon exercise of stock options | 0 | 0 | (1,453) | 0 | 0 | 0 | (1,453) | |
Stock-based compensation expense | 0 | 0 | 282 | 0 | 0 | 0 | 282 | |
Other comprehensive income, net of tax | 0 | 0 | 0 | 0 | 3,772 | 0 | 3,772 | |
Net income | $ 0 | 0 | 0 | 35,010 | 0 | 0 | 35,010 | |
Balance (in shares) at Mar. 31, 2019 | 53,495,208 | |||||||
Balance at Mar. 31, 2019 | $ 53 | 0 | 218,147 | 527,853 | (969) | 502 | 745,586 | |
Balance (in shares) at Dec. 31, 2018 | 53,375,195 | |||||||
Balance at Dec. 31, 2018 | $ 53 | 0 | 218,521 | 500,868 | (4,741) | 502 | 715,203 | |
Net income | 35,010 | |||||||
Balance (in shares) at Dec. 31, 2019 | 53,623,740 | |||||||
Balance at Dec. 31, 2019 | $ 54 | 0 | 219,766 | 616,611 | 5,749 | 502 | 842,682 | [1] |
Common dividends declared | $ 0 | 0 | 0 | (9,409) | 0 | 0 | (9,409) | |
Issue restricted shares pursuant to stock incentives (in shares) | 15,300 | |||||||
Issue shares of common stock upon exercise of stock options (in shares) | 204,969 | |||||||
Issue shares of common stock upon exercise of stock options | $ 0 | 0 | 2,261 | 0 | 0 | 0 | 2,261 | |
Shares of common stock withheld in net settlement upon exercise of stock options | 0 | 0 | (403) | 0 | 0 | 0 | (403) | |
Stock-based compensation expense | 0 | 0 | 277 | 0 | 0 | 0 | 277 | |
Other comprehensive income, net of tax | 0 | 0 | 0 | 0 | 11,699 | 0 | 11,699 | |
Net income | $ 0 | 0 | 0 | 34,778 | 0 | 0 | 34,778 | |
Balance (in shares) at Mar. 31, 2020 | 53,844,009 | |||||||
Balance at Mar. 31, 2020 | $ 54 | $ 0 | $ 221,901 | $ 641,980 | $ 17,448 | $ 502 | $ 881,885 | |
[1] | derived from audited financial statements. |
Consolidated Statement of Sto_2
Consolidated Statement of Stockholders' Equity (Unaudited) (Parentheticals) - $ / shares | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Common dividends, per share declared (in dollars per share) | $ 0.175 | $ 0.15 |
Shares withheld in net settlement upon exercise of stock options (in shares) | 11,031 | 45,187 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2019 | |
OPERATING ACTIVITIES | |||
Net income | $ 34,778 | $ 35,010 | $ 35,010 |
Adjustments to reconcile net income to net cash provided by | |||
Deferred tax (benefit) expense | (1,267) | 1,068 | |
Provision for loan losses | 13,584 | 4,885 | |
Depreciation | 921 | 917 | |
Accretion on acquired loans | 0 | (91) | |
Amortization of core deposit intangible | 68 | 68 | |
Net amortization of debt securities available for sale | 966 | 626 | |
Decrease (increase) in accrued interest and dividends receivable | 948 | (2,928) | |
Stock-based compensation expense | 277 | 282 | |
Increase in accrued interest payable | 465 | 1,095 | |
Proceeds from sale of mortgage loans held for sale | 36,308 | 15,581 | |
Originations of mortgage loans held for sale | (35,672) | (16,109) | |
Gain on sale of mortgage loans held for sale | (1,071) | (575) | |
Net (gain) loss on sale of other real estate owned and repossessed assets | (24) | 2 | |
Write down of other real estate owned and repossessed assets | 587 | 20 | |
Operating losses of tax credit partnerships | 3 | 35 | |
Increase in cash surrender value of life insurance contracts | (1,453) | (762) | |
Net change in other assets, liabilities, and other operating activities | 2,814 | 2,550 | |
Net cash provided by operating activities | 52,232 | 41,674 | |
INVESTMENT ACTIVITIES | |||
Purchase of debt securities available for sale | (80,149) | (65,507) | |
Proceeds from maturities, calls and paydowns of debt securities available for sale | 26,778 | 28,469 | |
Purchase of debt securities held to maturity | 0 | (250) | |
Investment in tax credit partnership and SBIC | (111) | 0 | |
Increase in loans | (312,426) | (129,977) | |
Purchase of premises and equipment | (417) | (759) | |
Proceeds from sale of other real estate owned and repossessed assets | 454 | 48 | |
Net cash used in investing activities | (365,871) | (167,976) | |
FINANCING ACTIVITIES | |||
Net increase in non-interest-bearing deposits | 175,747 | 15,362 | |
Net increase in interest-bearing deposits | 126,475 | 152,596 | |
Net increase in federal funds purchased | 72,874 | 84,653 | |
Proceeds from exercise of stock options | 2,261 | 797 | |
Taxes paid in net settlement of tax obligation upon exercise of stock options | (403) | (1,453) | |
Dividends paid on common stock | (9,384) | (8,019) | |
Net cash provided by financing activities | 367,570 | 243,936 | |
Net increase in cash and cash equivalents | 53,931 | 117,634 | |
Cash and cash equivalents at beginning of period | 630,600 | 681,895 | 681,895 |
Cash and cash equivalents at end of period | 684,531 | 799,529 | $ 630,600 |
Cash paid for: | |||
Interest | 18,662 | 23,826 | |
Income taxes | 400 | 1,533 | |
Income tax refund | 0 | (2) | |
NONCASH TRANSACTIONS | |||
Other real estate acquired in settlement of loans | 287 | 381 | |
Dividends declared | $ 9,409 | $ 8,025 |
Note 1 - General
Note 1 - General | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | NOTE 1 The accompanying consolidated financial statements in this report have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission, including Regulation S- X 10 not not not may 10 December 31, 2019. All reported amounts are in thousands except share and per share data. Allowance for Loan Losses The Company was prepared to fully adopt Accounting Standards Update (“ASU”) 2016 13, 326 January 1, 2020 19 March 27, 2020, 2016 13. 19 December 31, 2020, January 1, 2020. The allowance for loan losses as of March 31, 2020 19 5 |
Note 2 - Cash and Cash Equivale
Note 2 - Cash and Cash Equivalents | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Cash and Cash Equivalents Disclosure [Text Block] | NOTE 2 Cash on hand, cash items in process of collection, amounts due from banks, and federal funds sold are included in cash and cash equivalents. |
Note 3 - Earnings Per Common Sh
Note 3 - Earnings Per Common Share | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | NOTE 3 Basic earnings per common share are computed by dividing net income by the weighted average number of common shares outstanding during the period. Diluted earnings per common share include the dilutive effect of additional potential common shares issuable under stock options. Three Months Ended March 31, 2020 2019 (In Thousands, Except Shares and Per Share Data) Earnings per common share Weighted average common shares outstanding 53,704,224 53,465,091 Net income available to common stockholders $ 34,778 $ 35,010 Basic earnings per common share $ 0.65 $ 0.65 Weighted average common shares outstanding 53,704,224 53,465,091 Dilutive effects of assumed conversions and exercise of stock options and warrants 463,190 611,447 Weighted average common and dilutive potential common shares outstanding 54,167,414 54,076,538 Net income available to common stockholders $ 34,778 $ 35,010 Diluted earnings per common share $ 0.64 $ 0.65 |
Note 4 - Securities
Note 4 - Securities | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | NOTE 4 The amortized cost and fair value of available-for-sale and held-to-maturity securities at March 31, 2020 December 31, 2019 Amortized Cost Gross Unrealized Gain Gross Unrealized Loss Fair Value March 31, 2020 (In Thousands) Available for sale debt securities U.S. Treasury Securities $ 48,956 $ 826 $ - $ 49,782 Government Agency Securities 18,188 405 - 18,593 Mortgage-backed securities 529,126 17,305 - 546,431 State and municipal securities 50,989 353 (14 ) 51,328 Corporate debt 157,496 3,652 (500 ) 160,648 Total $ 804,755 $ 22,541 $ (514 ) $ 826,782 Held to maturity debt securities State and municipal securities $ 250 $ - $ - $ 250 Total $ 250 $ - $ - $ 250 December 31, 2019 Available for sale debt securities U.S. Treasury Securities $ 48,923 $ 291 $ (4 ) $ 49,210 Government Agency Securities 18,245 143 (2 ) 18,386 Mortgage-backed securities 470,513 4,859 (1,318 ) 474,054 State and municipal securities 56,951 335 (14 ) 57,272 Corporate debt 157,549 3,098 (170 ) 160,477 Total $ 752,181 $ 8,726 $ (1,508 ) $ 759,399 Held to maturity debt securities State and municipal securities $ 250 $ - $ - $ 250 Total $ 250 $ - $ - $ 250 The amortized cost and fair value of debt securities as of March 31, 2020 December 31, 2019 may may not March 31, 2020 December 31, 2019 Amortized Cost Fair Value Amortized Cost Fair Value (In thousands) Available for sale debt securities Due within one year $ 59,924 $ 60,306 $ 58,722 $ 58,975 Due from one to five years 83,414 84,963 90,034 91,005 Due from five to ten years 130,876 133,641 129,501 131,914 Due after ten years 1,415 1,441 3,411 3,451 Mortgage-backed securities 529,126 546,431 470,513 474,054 $ 804,755 $ 826,782 $ 752,181 $ 759,399 Held to maturity debt securities Due from one to five years $ 250 $ 250 $ 250 $ 250 $ 250 $ 250 $ 250 $ 250 All mortgage-backed securities are with government-sponsored enterprises (GSEs) such as Federal National Mortgage Association, Government National Mortgage Association, Federal Home Loan Bank, and Federal Home Loan Mortgage Corporation. The following table identifies, as of March 31, 2020 December 31, 2019, 12 12 March 31, 2020, 12 not not not may not March 31, 2020. not Less Than Twelve Months Twelve Months or More Total Gross Gross Gross Unrealized Unrealized Unrealized Losses Fair Value Losses Fair Value Losses Fair Value (In Thousands) March 31, 2020 State and municipal securities $ (10 ) $ 3,582 $ (4 ) $ 721 $ (14 ) $ 4,303 Corporate debt (500 ) 15,478 - - (500 ) 15,478 Total $ (510 ) $ 19,060 $ (4 ) $ 721 $ (514 ) $ 19,781 December 31, 2019 U.S. Treasury Securities $ (4 ) $ 3,012 $ - $ - $ (4 ) $ 3,012 Government Agency Securities (2 ) 266 - - (2 ) 266 Mortgage-backed securities (1,206 ) 153,330 (112 ) 24,911 (1,318 ) 178,241 State and municipal securities (4 ) 1,900 (10 ) 2,647 (14 ) 4,547 Corporate debt (170 ) 19,981 - - (170 ) 19,981 Total $ (1,386 ) $ 178,489 $ (122 ) $ 27,558 $ (1,508 ) $ 206,047 The carrying value of investment securities pledged to secure public funds on deposit and for other purposes as required by law was $437.6 million and $389.9 million as of March 31, 2020 December 31, 2019, |
Note 5 - Loans
Note 5 - Loans | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | NOTE 5 The following table details the Company’s loans at March 31, 2020 December 31, 2019: March 31, December 31, 2020 2019 (Dollars In Thousands) Commercial, financial and agricultural $ 2,771,307 $ 2,696,210 Real estate - construction 548,578 521,392 Real estate - mortgage: Owner-occupied commercial 1,678,532 1,587,478 1-4 family mortgage 675,870 644,188 Other mortgage 1,834,137 1,747,394 Subtotal: Real estate - mortgage 4,188,539 3,979,060 Consumer 60,412 64,789 Total Loans 7,568,836 7,261,451 Less: Allowance for loan losses (85,414 ) (76,584 ) Net Loans $ 7,483,422 $ 7,184,867 Commercial, financial and agricultural 36.61 % 37.13 % Real estate - construction 7.25 % 7.18 % Real estate - mortgage: Owner-occupied commercial 22.18 % 21.86 % 1-4 family mortgage 8.93 % 8.87 % Other mortgage 24.23 % 24.07 % Subtotal: Real estate - mortgage 55.34 % 54.80 % Consumer 0.80 % 0.89 % Total Loans 100.00 % 100.00 % The credit quality of the loan portfolio is summarized no ● Pass – loans which are well protected by the current net worth and paying capacity of the obligor(s) or by the fair value, less cost to acquire and sell, of any underlying collateral. ● Special Mention – loans with potential weakness that may, not not not ● Substandard – loans that exhibit well-defined weakness or weaknesses that presently jeopardize debt repayment. These loans are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not ● Doubtful – loans that have all the weaknesses inherent in loans classified substandard, plus 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. Loans by credit quality indicator as of March 31, 2020 December 31, 2019 Special March 31, 2020 Pass Mention Substandard Doubtful Total (In Thousands) Commercial, financial and agricultural $ 2,708,845 $ 17,902 $ 44,560 $ - $ 2,771,307 Real estate - construction 542,659 4,136 1,783 - 548,578 Real estate - mortgage: Owner-occupied commercial 1,658,909 11,014 8,609 - 1,678,532 1-4 family mortgage 671,407 2,080 2,383 - 675,870 Other mortgage 1,824,825 7,557 1,755 - 1,834,137 Total real estate - mortgage 4,155,141 20,651 12,747 - 4,188,539 Consumer 60,403 - 9 - 60,412 Total $ 7,467,048 $ 42,689 $ 59,099 $ - $ 7,568,836 Special December 31, 2019 Pass Mention Substandard Doubtful Total (In Thousands) Commercial, financial and agricultural $ 2,629,487 $ 46,176 $ 20,547 $ - $ 2,696,210 Real estate - construction 512,373 4,731 4,288 - 521,392 Real estate - mortgage: Owner-occupied commercial 1,555,283 18,240 13,955 - 1,587,478 1-4 family mortgage 639,959 2,787 1,442 - 644,188 Other mortgage 1,735,869 10,018 1,507 - 1,747,394 Total real estate - mortgage 3,931,111 31,045 16,904 - 3,979,060 Consumer 64,789 - - - 64,789 Total $ 7,137,760 $ 81,952 $ 41,739 $ - $ 7,261,451 Loans by performance status as of March 31, 2020 December 31, 2019 March 31, 2020 Performing Nonperforming Total (In Thousands) Commercial, financial and agricultural $ 2,756,132 $ 15,175 $ 2,771,307 Real estate - construction 546,774 1,804 548,578 Real estate - mortgage: Owner-occupied commercial 1,668,297 10,235 1,678,532 1-4 family mortgage 674,134 1,736 675,870 Other mortgage 1,829,244 4,893 1,834,137 Total real estate - mortgage 4,171,675 16,864 4,188,539 Consumer 60,387 25 60,412 Total $ 7,534,968 $ 33,868 $ 7,568,836 December 31, 2019 Performing Nonperforming Total (In Thousands) Commercial, financial and agricultural $ 2,681,280 $ 14,930 $ 2,696,210 Real estate - construction 519,803 1,589 521,392 Real estate - mortgage: Owner-occupied commercial 1,576,652 10,826 1,587,478 1-4 family mortgage 641,875 2,313 644,188 Other mortgage 1,740,963 6,431 1,747,394 Total real estate - mortgage 3,959,490 19,570 3,979,060 Consumer 64,766 23 64,789 Total $ 7,225,339 $ 36,112 $ 7,261,451 Loans by past due status as of March 31, 2020 December 31, 2019 March 31, 2020 Past Due Status (Accruing Loans) Total Past 30-59 Days 60-89 Days 90+ Days Due Non-Accrual Current Total Loans (In Thousands) Commercial, financial and agricultural $ 1,859 $ 211 $ 45 $ 2,115 $ 15,130 $ 2,754,062 $ 2,771,307 Real estate - construction - - - - 1,804 546,774 548,578 Real estate - mortgage: Owner-occupied commercial 2,389 1,778 - 4,167 10,235 1,664,130 1,678,532 1-4 family mortgage 2,191 - - 2,191 1,736 671,943 675,870 Other mortgage - - 4,893 4,893 - 1,829,244 1,834,137 Total real estate - mortgage 4,580 1,778 4,893 11,251 11,971 4,165,317 4,188,539 Consumer 83 31 16 130 9 60,273 60,412 Total $ 6,522 $ 2,020 $ 4,954 $ 13,496 $ 28,914 $ 7,526,426 $ 7,568,836 December 31, 2019 Past Due Status (Accruing Loans) Total Past 30-59 Days 60-89 Days 90+ Days Due Non-Accrual Current Total Loans (In Thousands) Commercial, financial and agricultural $ 3,135 $ 344 $ 201 $ 3,680 $ 14,729 $ 2,677,801 $ 2,696,210 Real estate - construction 830 - - 830 1,589 518,973 521,392 Real estate - mortgage: Owner-occupied commercial 917 7,242 - 8,159 10,826 1,568,493 1,587,478 1-4 family mortgage 1,638 567 873 3,078 1,440 639,670 644,188 Other mortgage - - 4,924 4,924 1,507 1,740,963 1,747,394 Total real estate - mortgage 2,555 7,809 5,797 16,161 13,773 3,949,126 3,979,060 Consumer 35 25 23 83 - 64,706 64,789 Total $ 6,555 $ 8,178 $ 6,021 $ 20,754 $ 30,091 $ 7,210,606 $ 7,261,451 The allowance for loan losses is maintained at a level which, in management’s judgment, is adequate to absorb credit losses inherent in the loan portfolio. The amount of the allowance is based on management’s evaluation of the collectability of the loan portfolio, including the nature of the portfolio, credit concentrations, trends in historical loss experience, specific impaired loans, economic conditions, and other risks inherent in the portfolio. Allowances for impaired loans are generally determined based on collateral values or the present value of the estimated cash flows. The allowance is increased by a provision for loan losses, which is charged to expense, and reduced by charge-offs, net of recoveries. In addition, various regulatory agencies, as an integral part of their examination process, periodically review the allowance for losses on loans. Such agencies may The methodology utilized for the calculation of the allowance for loan losses is divided into four 450 310 Non-Impaired Loans. second five Impaired Loans. may may External Qualitative Factors three 19 March 31, 2020. Internal Qualitative Factors The following table presents an analysis of the allowance for loan losses by portfolio segment and changes in the allowance for loan losses for the three March 31, 2020 March 31, 2019. Commercial, financial and Real estate - Real estate - agricultural construction mortgage Consumer Total (In Thousands) Three Months Ended March 31, 2020 Allowance for loan losses: Balance at December 31, 2019 $ 43,666 $ 2,768 $ 29,653 $ 497 $ 76,584 Charge-offs (2,640 ) (454 ) (1,678 ) (58 ) (4,830 ) Recoveries 62 1 1 12 76 Provision 7,692 1,442 4,384 66 13,584 Balance at March 31, 2020 $ 48,780 $ 3,757 $ 32,360 $ 517 $ 85,414 Three Months Ended March 31, 2019 Allowance for loan losses: Balance at December 31, 2018 $ 39,016 $ 3,522 $ 25,508 $ 554 $ 68,600 Charge-offs (3,037 ) - (50 ) (218 ) (3,305 ) Recoveries 12 1 7 7 27 Provision 3,468 72 1,246 99 4,885 Balance at March 31, 2019 $ 39,459 $ 3,595 $ 26,711 $ 442 $ 70,207 As of March 31, 2020 Allowance for loan losses: Individually Evaluated for Impairment $ 8,840 $ 351 $ 931 $ - $ 10,122 Collectively Evaluated for Impairment 39,940 3,406 31,429 517 75,292 Loans: Ending Balance $ 2,771,307 $ 548,578 $ 4,188,539 $ 60,412 $ 7,568,836 Individually Evaluated for Impairment 44,868 1,834 13,815 9 60,526 Collectively Evaluated for Impairment 2,726,439 546,744 4,174,724 60,403 7,508,310 As of December 31, 2019 Allowance for loan losses: Individually Evaluated for Impairment $ 6,085 $ 86 $ 3,633 $ - $ 9,804 Collectively Evaluated for Impairment 37,581 2,682 26,020 497 66,780 Loans: Ending Balance $ 2,696,210 $ 521,392 $ 3,979,060 $ 64,789 $ 7,261,451 Individually Evaluated for Impairment 20,843 4,320 17,985 - 43,148 Collectively Evaluated for Impairment 2,675,367 517,072 3,961,075 64,789 7,218,303 The following table presents details of the Company’s impaired loans as of March 31, 2020 December 31, 2019, not March 31, 2020 For the three months ended March 31, 2020 Interest Unpaid Average Income Recorded Principal Related Recorded Recognized Investment Balance Allowance Investment in Period (In Thousands) With no allowance recorded: Commercial, financial and agricultural $ 12,360 $ 12,360 $ - $ 12,352 $ 176 Real estate - construction 30 34 - 35 - Real estate - mortgage: Owner-occupied commercial 2,195 2,291 - 2,299 33 1-4 family mortgage 717 717 - 735 1 Other mortgage 1,701 1,701 - 1,731 18 Total real estate - mortgage 4,613 4,709 - 4,765 52 Consumer 9 9 - 9 - Total with no allowance recorded 17,012 17,112 - 17,161 228 With an allowance recorded: Commercial, financial and agricultural 32,508 32,775 8,840 33,186 239 Real estate - construction 1,804 1,882 351 2,749 - Real estate - mortgage: Owner-occupied commercial 7,487 12,127 827 12,159 5 1-4 family mortgage 1,662 1,822 104 1,526 4 Other mortgage 53 53 - 156 2 Total real estate - mortgage 9,202 14,002 931 13,841 11 Consumer - - - - - Total with allowance recorded 43,514 48,659 10,122 49,776 250 Total Impaired Loans: Commercial, financial and agricultural 44,868 45,135 8,840 45,538 415 Real estate - construction 1,834 1,916 351 2,784 - Real estate - mortgage: Owner-occupied commercial 9,682 14,418 827 14,458 38 1-4 family mortgage 2,379 2,539 104 2,261 5 Other mortgage 1,754 1,754 - 1,887 20 Total real estate - mortgage 13,815 18,711 931 18,606 63 Consumer 9 9 - 9 - Total impaired loans $ 60,526 $ 65,771 $ 10,122 $ 66,937 $ 478 December 31, 2019 For the twelve months ended December 31, 2019 Interest Unpaid Average Income Recorded Principal Related Recorded Recognized Investment Balance Allowance Investment In Period (In Thousands) With no allowance recorded: Commercial, financial and agricultural $ 9,015 $ 10,563 $ - $ 11,284 $ 562 Real estate - construction 2,731 2,735 - 2,063 126 Real estate - mortgage: Owner-occupied commercial 7,150 7,246 - 7,548 618 1-4 family mortgage 287 287 - 289 2 Total real estate - mortgage 7,437 7,533 - 7,837 620 Consumer - - - - - Total with no allowance recorded 19,183 20,831 - 21,184 1,308 With an allowance recorded: Commercial, financial and agricultural 11,828 19,307 6,085 19,714 395 Real estate - construction 1,589 1,589 86 1,614 27 Real estate - mortgage: Owner-occupied commercial 7,888 11,028 2,456 13,627 301 1-4 family mortgage 1,153 1,153 176 1,157 1 Other mortgage 1,507 1,507 1,001 1,468 21 Total real estate - mortgage 10,548 13,688 3,633 16,252 323 Consumer - - - - - Total with allowance recorded 23,965 34,584 9,804 37,580 745 Total Impaired Loans: Commercial, financial and agricultural 20,843 29,870 6,085 30,998 957 Real estate - construction 4,320 4,324 86 3,677 153 Real estate - mortgage: Owner-occupied commercial 15,038 18,274 2,456 21,175 919 1-4 family mortgage 1,440 1,440 176 1,446 3 Other mortgage 1,507 1,507 1,001 1,468 21 Total real estate - mortgage 17,985 21,221 3,633 24,089 943 Total impaired loans $ 43,148 $ 55,415 $ 9,804 $ 58,764 $ 2,053 As of March 31, 2020, 19 730 five five no three not March 2020. Troubled Debt Restructurings (“TDR”) at March 31, 2020, December 31, 2019 March 31, 2019 March 31, 2020, December 31, 2019 March 31, 2019 March 31, 2020, December 31, 2019 March 31, 2019. One no three March 31, 2020. no three March 31, 2019. 2020 Pre- Post- Modification Modification Outstanding Outstanding Number of Recorded Recorded Contracts Investment Investment (In Thousands) Troubled Debt Restructurings Commercial, financial and agricultural 1 $ 350 $ 350 Real estate - construction - - - Real estate - mortgage: Owner-occupied commercial - - - 1-4 family mortgage - - - Other mortgage - - - Total real estate mortgage - - - Consumer - - - 1 $ 350 $ 350 There were no twelve twelve three March 31, 2020. two twelve three March 31, 2019. 90 |
Note 6 - Leases
Note 6 - Leases | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | NOTE 6 The Company leases space under non-cancelable operating leases for several of its banking offices and certain office equipment. The leases have remaining terms up to 9 years. At March 31, 2020, December 31, 2019 Maturities of operating lease liabilities as of March 31, 2020 March 31, 2020 (In Thousands) 2020 (remaining) $ 2,544 2021 2,688 2022 2,655 2023 2,181 2024 1,180 thereafter 2,570 Total lease payments 13,818 Less: imputed interest (1,224 ) Present value of operating lease liabilities $ 12,594 As of March 31, 2020, Operating cash flows related to leases were $852,000 and $781,000 for the three March 31, 2020 2019, Lease costs during the three March 31, 2020 2019 Three Months Ended March 31, 2020 2019 Operating lease cost $ 873 $ 840 Short-term lease cost 16 9 Variable lease cost 44 38 Sublease income (16 ) (6 ) Net lease cost $ 917 $ 881 |
Note 7 - Employee and Director
Note 7 - Employee and Director Benefits | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | NOTE 7 Stock Options At March 31, 2020, three March 31, 2020 2019, The Company’s 2009 ten The Company estimates the fair value of each stock option award using a Black-Scholes-Merton valuation model which incorporates the assumptions noted in the following table. Expected volatilities are based on an index of southeastern United States publicly traded banks. The expected term for options granted is based on the short-cut method and represents the period of time that options granted are expected to be outstanding. The risk-free rate for periods within the contractual life of the option is based on the U. S. Treasury yield curve in effect at the time of grant. 2019 Expected volatility 40.00 % Expected dividends 1.76 % Expected term (in years) 6.3 Risk-free rate 2.61 % There were no three March 31, 2020. three March 31, 2019 The following table summarizes stock option activity during the three March 31, 2020 2019: Weighted Weighted Average Average Remaining Exercise Contractual Aggregate Shares Price Term (years) Intrinsic Value (In Thousands) Three Months Ended March 31, 2020: Outstanding January 1, 2020 965,248 $ 15.19 4.9 $ 21,911 Granted - - - - Exercised (216,000 ) 10.47 3.3 4,072 Forfeited (18,000 ) 30.79 6.9 26 Outstanding March 31, 2020 731,248 17.68 5.4 $ 12,969 Exercisable March 31, 2020 210,500 $ 16.54 5.0 $ 7,146 Three Months Ended March 31, 2019: Outstanding January 1, 2019 1,238,748 $ 13.02 5.2 $ 23,355 Granted 6,000 34.09 9.8 (2 ) Exercised (162,500 ) 4.59 1.7 4,384 Forfeited - - - - Outstanding March 31, 2019 1,082,248 14.41 6.3 $ 21,318 Exercisable March 31, 2019 354,800 $ 8.40 4.0 $ 9,356 As of March 31, 2020, Restricted Stock The Company periodically grants restricted stock awards that vest upon service conditions. Dividend payments are made during the vesting period. The value of restricted stock is determined to be the current value of the Company’s stock, and this total value will be recognized as compensation expense over the vesting period. As of March 31, 2020, Shares Weighted Average Grant Date Fair Value Three Months Ended March 31, 2020: Non-vested at January 1, 2020 71,290 $ 31.53 Granted 15,300 39.45 Vested (8,376 ) 18.64 Forfeited - - Non-vested at March 31, 2020 78,214 34.46 Three Months Ended March 31, 2019: Non-vested at January 1, 2019 44,076 $ 28.94 Granted 2,700 34.09 Vested (5,200 ) 20.31 Forfeited - - Non-vested at March 31, 2019 41,576 30.35 |
Note 8 - Derivatives
Note 8 - Derivatives | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | NOTE 8 The Company has entered into agreements with secondary market investors to deliver loans on a “best efforts delivery” basis. When a rate is committed to a borrower, it is based on the best price that day and locked with the investor for the customer for a 30 not no March 31, 2020 December 31, 2019 not |
Note 9 - Recently Adopted Accou
Note 9 - Recently Adopted Accounting Pronouncements | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Accounting Standards Update and Change in Accounting Principle [Text Block] | NOTE 9 In July 2018, 2018 13, Fair Value Measurement (Topic 820 no 1 2 3 No. 2018 13 January 1, 2020. 2018 13 no |
Note 10 - Recent Accounting Pro
Note 10 - Recent Accounting Pronouncements | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Accounting Changes and Error Corrections [Text Block] | NOTE 10 In June 2016, 2016 13, Financial Instruments-Credit Losses (Topic 326 ): Measurement of Credit Losses on Financial Instruments The Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), passed by Congress and signed into law by the President on March 27, 2020, 2016 13. 19 December 31, 2020, January 1, 2020. The Company’s CECL implementation team includes leadership from Accounting, Credit Administration and Risk Management. This group works closely with a third CECL parallel comparisons were performed at March 31, 2020 19 Credit losses for loans that no one The estimation methodology for credit losses on lending-related commitments were similar to the process for estimating credit losses for loans, with the addition of a probability of draw estimate that will be applied to each commitment amount. Based upon the nature and characteristics of our securities portfolios at March 31, 2020, not In March 2020, 2020 04, Reference Rate Reform (Topic 848 March 12, 2020 December 31, 2022. |
Note 11 - Fair Value Measuremen
Note 11 - Fair Value Measurement | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | NOTE 11 Measurement of fair value under U.S. GAAP establishes a hierarchy that prioritizes observable and unobservable inputs used to measure fair value, as of the measurement date, into three Level 1: 1 Level 2: not Level 3: no 3 In determining fair value, the Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible and also considers counterparty credit risk in its assessment of fair value. Debt Securities. 1 1 not may 2 two 2 not two 3 March 31, 2020 December 31, 2019 Impaired Loans not not 820 10 3 March 31, 2020 December 31, 2019 three March 31, 2020, three March 31, 2019. Other Real Estate Owned not March 31, 2020 December 31, 2019 3 three March 31, 2020 2019, 3 There was one March 31, 2020, one December 31, 2019. One residential real estate loan for $600,000 was in the process of being foreclosed as of March 31, 2020 December 31, 2019. The following table presents the Company’s financial assets carried at fair value on a recurring basis as of March 31, 2020 December 31, 2019. no March 31, 2020 December 31, 2019. Fair Value Measurements at March 31, 2020 Using Quoted Prices in Active Markets Significant Other Significant for Identical Observable Inputs Unobservable Assets (Level 1) (Level 2) Inputs (Level 3) Total Assets Measured on a Recurring Basis: (In Thousands) Available for sale debt securities: U.S. Treasury securities $ - $ 49,782 $ - $ 49,782 Government agency securities - 18,593 - 18,593 Mortgage-backed securities - 546,431 - 546,431 State and municipal securities - 51,328 - 51,328 Corporate debt - 154,001 6,647 160,648 Total assets at fair value $ - $ 820,135 $ 6,647 $ 826,782 Fair Value Measurements at December 31, 2019 Using Quoted Prices in Active Markets Significant Other Significant for Identical Observable Inputs Unobservable Assets (Level 1) (Level 2) Inputs (Level 3) Total Assets Measured on a Recurring Basis: (In Thousands) Available for sale debt securities: U.S. Treasury securities $ - $ 49,210 $ - $ 49,210 Government agency securities - 18,386 - 18,386 Mortgage-backed securities - 474,054 - 474,054 State and municipal securities - 57,272 - 57,272 Corporate debt - 153,881 6,596 160,477 Total assets at fair value $ - $ 752,803 $ 6,596 $ 759,399 The following table presents the Company’s financial assets carried at fair value on a nonrecurring basis as of March 31, 2020 December 31, 2019. no March 31, 2020 December 31, 2019. Fair Value Measurements at March 31, 2020 Using Quoted Prices in Active Markets Significant Other Significant for Identical Observable Unobservable Assets (Level 1) Inputs (Level 2) Inputs (Level 3) Total Assets Measured on a Nonrecurring Basis: (In Thousands) Impaired loans $ - $ - $ 50,404 $ 50,404 Other real estate owned and repossessed assets - - 7,448 7,448 Total assets at fair value $ - $ - $ 57,852 $ 57,852 Fair Value Measurements at December 31, 2019 Using Quoted Prices in Active Markets Significant Other Significant for Identical Observable Unobservable Assets (Level 1) Inputs (Level 2) Inputs (Level 3) Total Assets Measured on a Nonrecurring Basis: (In Thousands) Impaired loans $ - $ - $ 33,344 $ 33,344 Other real estate owned - - 8,178 8,178 Total assets at fair value $ - $ - $ 41,522 $ 41,522 The fair value of a financial instrument is the current amount that would be exchanged in a sale between willing parties, other than in a forced liquidation. Fair value is best determined based upon quoted market prices. However, in many instances, there are no not may not may not The estimated fair values of the Company’s financial instruments not March 31, 2020 December 31, 2019 March 31, 2020 December 31, 2019 Carrying Carrying Amount Fair Value Amount Fair Value (In Thousands) Financial Assets: Level 1 inputs: Cash and cash equivalents $ 378,404 $ 378,404 $ 530,127 $ 530,127 Level 2 inputs: Federal funds sold 306,127 306,127 100,473 100,473 Mortgage loans held for sale 6,747 6,775 6,302 6,312 Level 3 Inputs: Held to maturity debt securities 250 250 250 250 Loans, net 7,433,018 7,401,907 7,151,523 7,099,198 Financial Liabilities: Level 2 inputs: Deposits $ 7,832,655 $ 7,817,647 $ 7,530,433 $ 7,534,984 Federal funds purchased 543,623 543,623 470,749 470,749 Other borrowings 64,707 64,950 64,703 65,048 |
Note 12 - Subsequent Events
Note 12 - Subsequent Events | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | NOTE 12 In light of the US and global economic crisis brought about by the COVID- 19 500 April 17, 2020, |
Note 3 - Earnings Per Common _2
Note 3 - Earnings Per Common Share (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended March 31, 2020 2019 (In Thousands, Except Shares and Per Share Data) Earnings per common share Weighted average common shares outstanding 53,704,224 53,465,091 Net income available to common stockholders $ 34,778 $ 35,010 Basic earnings per common share $ 0.65 $ 0.65 Weighted average common shares outstanding 53,704,224 53,465,091 Dilutive effects of assumed conversions and exercise of stock options and warrants 463,190 611,447 Weighted average common and dilutive potential common shares outstanding 54,167,414 54,076,538 Net income available to common stockholders $ 34,778 $ 35,010 Diluted earnings per common share $ 0.64 $ 0.65 |
Note 4 - Securities (Tables)
Note 4 - Securities (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Unrealized Gain (Loss) on Investments [Table Text Block] | Amortized Cost Gross Unrealized Gain Gross Unrealized Loss Fair Value March 31, 2020 (In Thousands) Available for sale debt securities U.S. Treasury Securities $ 48,956 $ 826 $ - $ 49,782 Government Agency Securities 18,188 405 - 18,593 Mortgage-backed securities 529,126 17,305 - 546,431 State and municipal securities 50,989 353 (14 ) 51,328 Corporate debt 157,496 3,652 (500 ) 160,648 Total $ 804,755 $ 22,541 $ (514 ) $ 826,782 Held to maturity debt securities State and municipal securities $ 250 $ - $ - $ 250 Total $ 250 $ - $ - $ 250 December 31, 2019 Available for sale debt securities U.S. Treasury Securities $ 48,923 $ 291 $ (4 ) $ 49,210 Government Agency Securities 18,245 143 (2 ) 18,386 Mortgage-backed securities 470,513 4,859 (1,318 ) 474,054 State and municipal securities 56,951 335 (14 ) 57,272 Corporate debt 157,549 3,098 (170 ) 160,477 Total $ 752,181 $ 8,726 $ (1,508 ) $ 759,399 Held to maturity debt securities State and municipal securities $ 250 $ - $ - $ 250 Total $ 250 $ - $ - $ 250 |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | March 31, 2020 December 31, 2019 Amortized Cost Fair Value Amortized Cost Fair Value (In thousands) Available for sale debt securities Due within one year $ 59,924 $ 60,306 $ 58,722 $ 58,975 Due from one to five years 83,414 84,963 90,034 91,005 Due from five to ten years 130,876 133,641 129,501 131,914 Due after ten years 1,415 1,441 3,411 3,451 Mortgage-backed securities 529,126 546,431 470,513 474,054 $ 804,755 $ 826,782 $ 752,181 $ 759,399 Held to maturity debt securities Due from one to five years $ 250 $ 250 $ 250 $ 250 $ 250 $ 250 $ 250 $ 250 |
Gain (Loss) on Securities [Table Text Block] | Less Than Twelve Months Twelve Months or More Total Gross Gross Gross Unrealized Unrealized Unrealized Losses Fair Value Losses Fair Value Losses Fair Value (In Thousands) March 31, 2020 State and municipal securities $ (10 ) $ 3,582 $ (4 ) $ 721 $ (14 ) $ 4,303 Corporate debt (500 ) 15,478 - - (500 ) 15,478 Total $ (510 ) $ 19,060 $ (4 ) $ 721 $ (514 ) $ 19,781 December 31, 2019 U.S. Treasury Securities $ (4 ) $ 3,012 $ - $ - $ (4 ) $ 3,012 Government Agency Securities (2 ) 266 - - (2 ) 266 Mortgage-backed securities (1,206 ) 153,330 (112 ) 24,911 (1,318 ) 178,241 State and municipal securities (4 ) 1,900 (10 ) 2,647 (14 ) 4,547 Corporate debt (170 ) 19,981 - - (170 ) 19,981 Total $ (1,386 ) $ 178,489 $ (122 ) $ 27,558 $ (1,508 ) $ 206,047 |
Note 5 - Loans (Tables)
Note 5 - Loans (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | March 31, December 31, 2020 2019 (Dollars In Thousands) Commercial, financial and agricultural $ 2,771,307 $ 2,696,210 Real estate - construction 548,578 521,392 Real estate - mortgage: Owner-occupied commercial 1,678,532 1,587,478 1-4 family mortgage 675,870 644,188 Other mortgage 1,834,137 1,747,394 Subtotal: Real estate - mortgage 4,188,539 3,979,060 Consumer 60,412 64,789 Total Loans 7,568,836 7,261,451 Less: Allowance for loan losses (85,414 ) (76,584 ) Net Loans $ 7,483,422 $ 7,184,867 Commercial, financial and agricultural 36.61 % 37.13 % Real estate - construction 7.25 % 7.18 % Real estate - mortgage: Owner-occupied commercial 22.18 % 21.86 % 1-4 family mortgage 8.93 % 8.87 % Other mortgage 24.23 % 24.07 % Subtotal: Real estate - mortgage 55.34 % 54.80 % Consumer 0.80 % 0.89 % Total Loans 100.00 % 100.00 % |
Financing Receivable Credit Quality Indicators [Table Text Block] | Special March 31, 2020 Pass Mention Substandard Doubtful Total (In Thousands) Commercial, financial and agricultural $ 2,708,845 $ 17,902 $ 44,560 $ - $ 2,771,307 Real estate - construction 542,659 4,136 1,783 - 548,578 Real estate - mortgage: Owner-occupied commercial 1,658,909 11,014 8,609 - 1,678,532 1-4 family mortgage 671,407 2,080 2,383 - 675,870 Other mortgage 1,824,825 7,557 1,755 - 1,834,137 Total real estate - mortgage 4,155,141 20,651 12,747 - 4,188,539 Consumer 60,403 - 9 - 60,412 Total $ 7,467,048 $ 42,689 $ 59,099 $ - $ 7,568,836 Special December 31, 2019 Pass Mention Substandard Doubtful Total (In Thousands) Commercial, financial and agricultural $ 2,629,487 $ 46,176 $ 20,547 $ - $ 2,696,210 Real estate - construction 512,373 4,731 4,288 - 521,392 Real estate - mortgage: Owner-occupied commercial 1,555,283 18,240 13,955 - 1,587,478 1-4 family mortgage 639,959 2,787 1,442 - 644,188 Other mortgage 1,735,869 10,018 1,507 - 1,747,394 Total real estate - mortgage 3,931,111 31,045 16,904 - 3,979,060 Consumer 64,789 - - - 64,789 Total $ 7,137,760 $ 81,952 $ 41,739 $ - $ 7,261,451 |
Financing Receivable, Credit Substitute, Credit Quality Indicator [Table Text Block] | March 31, 2020 Performing Nonperforming Total (In Thousands) Commercial, financial and agricultural $ 2,756,132 $ 15,175 $ 2,771,307 Real estate - construction 546,774 1,804 548,578 Real estate - mortgage: Owner-occupied commercial 1,668,297 10,235 1,678,532 1-4 family mortgage 674,134 1,736 675,870 Other mortgage 1,829,244 4,893 1,834,137 Total real estate - mortgage 4,171,675 16,864 4,188,539 Consumer 60,387 25 60,412 Total $ 7,534,968 $ 33,868 $ 7,568,836 December 31, 2019 Performing Nonperforming Total (In Thousands) Commercial, financial and agricultural $ 2,681,280 $ 14,930 $ 2,696,210 Real estate - construction 519,803 1,589 521,392 Real estate - mortgage: Owner-occupied commercial 1,576,652 10,826 1,587,478 1-4 family mortgage 641,875 2,313 644,188 Other mortgage 1,740,963 6,431 1,747,394 Total real estate - mortgage 3,959,490 19,570 3,979,060 Consumer 64,766 23 64,789 Total $ 7,225,339 $ 36,112 $ 7,261,451 |
Financing Receivable, Past Due [Table Text Block] | March 31, 2020 Past Due Status (Accruing Loans) Total Past 30-59 Days 60-89 Days 90+ Days Due Non-Accrual Current Total Loans (In Thousands) Commercial, financial and agricultural $ 1,859 $ 211 $ 45 $ 2,115 $ 15,130 $ 2,754,062 $ 2,771,307 Real estate - construction - - - - 1,804 546,774 548,578 Real estate - mortgage: Owner-occupied commercial 2,389 1,778 - 4,167 10,235 1,664,130 1,678,532 1-4 family mortgage 2,191 - - 2,191 1,736 671,943 675,870 Other mortgage - - 4,893 4,893 - 1,829,244 1,834,137 Total real estate - mortgage 4,580 1,778 4,893 11,251 11,971 4,165,317 4,188,539 Consumer 83 31 16 130 9 60,273 60,412 Total $ 6,522 $ 2,020 $ 4,954 $ 13,496 $ 28,914 $ 7,526,426 $ 7,568,836 December 31, 2019 Past Due Status (Accruing Loans) Total Past 30-59 Days 60-89 Days 90+ Days Due Non-Accrual Current Total Loans (In Thousands) Commercial, financial and agricultural $ 3,135 $ 344 $ 201 $ 3,680 $ 14,729 $ 2,677,801 $ 2,696,210 Real estate - construction 830 - - 830 1,589 518,973 521,392 Real estate - mortgage: Owner-occupied commercial 917 7,242 - 8,159 10,826 1,568,493 1,587,478 1-4 family mortgage 1,638 567 873 3,078 1,440 639,670 644,188 Other mortgage - - 4,924 4,924 1,507 1,740,963 1,747,394 Total real estate - mortgage 2,555 7,809 5,797 16,161 13,773 3,949,126 3,979,060 Consumer 35 25 23 83 - 64,706 64,789 Total $ 6,555 $ 8,178 $ 6,021 $ 20,754 $ 30,091 $ 7,210,606 $ 7,261,451 |
Financing Receivable, Allowance for Credit Loss [Table Text Block] | Commercial, financial and Real estate - Real estate - agricultural construction mortgage Consumer Total (In Thousands) Three Months Ended March 31, 2020 Allowance for loan losses: Balance at December 31, 2019 $ 43,666 $ 2,768 $ 29,653 $ 497 $ 76,584 Charge-offs (2,640 ) (454 ) (1,678 ) (58 ) (4,830 ) Recoveries 62 1 1 12 76 Provision 7,692 1,442 4,384 66 13,584 Balance at March 31, 2020 $ 48,780 $ 3,757 $ 32,360 $ 517 $ 85,414 Three Months Ended March 31, 2019 Allowance for loan losses: Balance at December 31, 2018 $ 39,016 $ 3,522 $ 25,508 $ 554 $ 68,600 Charge-offs (3,037 ) - (50 ) (218 ) (3,305 ) Recoveries 12 1 7 7 27 Provision 3,468 72 1,246 99 4,885 Balance at March 31, 2019 $ 39,459 $ 3,595 $ 26,711 $ 442 $ 70,207 As of March 31, 2020 Allowance for loan losses: Individually Evaluated for Impairment $ 8,840 $ 351 $ 931 $ - $ 10,122 Collectively Evaluated for Impairment 39,940 3,406 31,429 517 75,292 Loans: Ending Balance $ 2,771,307 $ 548,578 $ 4,188,539 $ 60,412 $ 7,568,836 Individually Evaluated for Impairment 44,868 1,834 13,815 9 60,526 Collectively Evaluated for Impairment 2,726,439 546,744 4,174,724 60,403 7,508,310 As of December 31, 2019 Allowance for loan losses: Individually Evaluated for Impairment $ 6,085 $ 86 $ 3,633 $ - $ 9,804 Collectively Evaluated for Impairment 37,581 2,682 26,020 497 66,780 Loans: Ending Balance $ 2,696,210 $ 521,392 $ 3,979,060 $ 64,789 $ 7,261,451 Individually Evaluated for Impairment 20,843 4,320 17,985 - 43,148 Collectively Evaluated for Impairment 2,675,367 517,072 3,961,075 64,789 7,218,303 |
Impaired Financing Receivables [Table Text Block] | March 31, 2020 For the three months ended March 31, 2020 Interest Unpaid Average Income Recorded Principal Related Recorded Recognized Investment Balance Allowance Investment in Period (In Thousands) With no allowance recorded: Commercial, financial and agricultural $ 12,360 $ 12,360 $ - $ 12,352 $ 176 Real estate - construction 30 34 - 35 - Real estate - mortgage: Owner-occupied commercial 2,195 2,291 - 2,299 33 1-4 family mortgage 717 717 - 735 1 Other mortgage 1,701 1,701 - 1,731 18 Total real estate - mortgage 4,613 4,709 - 4,765 52 Consumer 9 9 - 9 - Total with no allowance recorded 17,012 17,112 - 17,161 228 With an allowance recorded: Commercial, financial and agricultural 32,508 32,775 8,840 33,186 239 Real estate - construction 1,804 1,882 351 2,749 - Real estate - mortgage: Owner-occupied commercial 7,487 12,127 827 12,159 5 1-4 family mortgage 1,662 1,822 104 1,526 4 Other mortgage 53 53 - 156 2 Total real estate - mortgage 9,202 14,002 931 13,841 11 Consumer - - - - - Total with allowance recorded 43,514 48,659 10,122 49,776 250 Total Impaired Loans: Commercial, financial and agricultural 44,868 45,135 8,840 45,538 415 Real estate - construction 1,834 1,916 351 2,784 - Real estate - mortgage: Owner-occupied commercial 9,682 14,418 827 14,458 38 1-4 family mortgage 2,379 2,539 104 2,261 5 Other mortgage 1,754 1,754 - 1,887 20 Total real estate - mortgage 13,815 18,711 931 18,606 63 Consumer 9 9 - 9 - Total impaired loans $ 60,526 $ 65,771 $ 10,122 $ 66,937 $ 478 December 31, 2019 For the twelve months ended December 31, 2019 Interest Unpaid Average Income Recorded Principal Related Recorded Recognized Investment Balance Allowance Investment In Period (In Thousands) With no allowance recorded: Commercial, financial and agricultural $ 9,015 $ 10,563 $ - $ 11,284 $ 562 Real estate - construction 2,731 2,735 - 2,063 126 Real estate - mortgage: Owner-occupied commercial 7,150 7,246 - 7,548 618 1-4 family mortgage 287 287 - 289 2 Total real estate - mortgage 7,437 7,533 - 7,837 620 Consumer - - - - - Total with no allowance recorded 19,183 20,831 - 21,184 1,308 With an allowance recorded: Commercial, financial and agricultural 11,828 19,307 6,085 19,714 395 Real estate - construction 1,589 1,589 86 1,614 27 Real estate - mortgage: Owner-occupied commercial 7,888 11,028 2,456 13,627 301 1-4 family mortgage 1,153 1,153 176 1,157 1 Other mortgage 1,507 1,507 1,001 1,468 21 Total real estate - mortgage 10,548 13,688 3,633 16,252 323 Consumer - - - - - Total with allowance recorded 23,965 34,584 9,804 37,580 745 Total Impaired Loans: Commercial, financial and agricultural 20,843 29,870 6,085 30,998 957 Real estate - construction 4,320 4,324 86 3,677 153 Real estate - mortgage: Owner-occupied commercial 15,038 18,274 2,456 21,175 919 1-4 family mortgage 1,440 1,440 176 1,446 3 Other mortgage 1,507 1,507 1,001 1,468 21 Total real estate - mortgage 17,985 21,221 3,633 24,089 943 Total impaired loans $ 43,148 $ 55,415 $ 9,804 $ 58,764 $ 2,053 |
Financing Receivable, Troubled Debt Restructuring [Table Text Block] | 2020 Pre- Post- Modification Modification Outstanding Outstanding Number of Recorded Recorded Contracts Investment Investment (In Thousands) Troubled Debt Restructurings Commercial, financial and agricultural 1 $ 350 $ 350 Real estate - construction - - - Real estate - mortgage: Owner-occupied commercial - - - 1-4 family mortgage - - - Other mortgage - - - Total real estate mortgage - - - Consumer - - - 1 $ 350 $ 350 |
Note 6 - Leases (Tables)
Note 6 - Leases (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | March 31, 2020 (In Thousands) 2020 (remaining) $ 2,544 2021 2,688 2022 2,655 2023 2,181 2024 1,180 thereafter 2,570 Total lease payments 13,818 Less: imputed interest (1,224 ) Present value of operating lease liabilities $ 12,594 |
Lease, Cost [Table Text Block] | Three Months Ended March 31, 2020 2019 Operating lease cost $ 873 $ 840 Short-term lease cost 16 9 Variable lease cost 44 38 Sublease income (16 ) (6 ) Net lease cost $ 917 $ 881 |
Note 7 - Employee and Directo_2
Note 7 - Employee and Director Benefits (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | 2019 Expected volatility 40.00 % Expected dividends 1.76 % Expected term (in years) 6.3 Risk-free rate 2.61 % |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | Weighted Weighted Average Average Remaining Exercise Contractual Aggregate Shares Price Term (years) Intrinsic Value (In Thousands) Three Months Ended March 31, 2020: Outstanding January 1, 2020 965,248 $ 15.19 4.9 $ 21,911 Granted - - - - Exercised (216,000 ) 10.47 3.3 4,072 Forfeited (18,000 ) 30.79 6.9 26 Outstanding March 31, 2020 731,248 17.68 5.4 $ 12,969 Exercisable March 31, 2020 210,500 $ 16.54 5.0 $ 7,146 Three Months Ended March 31, 2019: Outstanding January 1, 2019 1,238,748 $ 13.02 5.2 $ 23,355 Granted 6,000 34.09 9.8 (2 ) Exercised (162,500 ) 4.59 1.7 4,384 Forfeited - - - - Outstanding March 31, 2019 1,082,248 14.41 6.3 $ 21,318 Exercisable March 31, 2019 354,800 $ 8.40 4.0 $ 9,356 |
Nonvested Restricted Stock Shares Activity [Table Text Block] | Shares Weighted Average Grant Date Fair Value Three Months Ended March 31, 2020: Non-vested at January 1, 2020 71,290 $ 31.53 Granted 15,300 39.45 Vested (8,376 ) 18.64 Forfeited - - Non-vested at March 31, 2020 78,214 34.46 Three Months Ended March 31, 2019: Non-vested at January 1, 2019 44,076 $ 28.94 Granted 2,700 34.09 Vested (5,200 ) 20.31 Forfeited - - Non-vested at March 31, 2019 41,576 30.35 |
Note 11 - Fair Value Measurem_2
Note 11 - Fair Value Measurement (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Fair Value Measurements at March 31, 2020 Using Quoted Prices in Active Markets Significant Other Significant for Identical Observable Inputs Unobservable Assets (Level 1) (Level 2) Inputs (Level 3) Total Assets Measured on a Recurring Basis: (In Thousands) Available for sale debt securities: U.S. Treasury securities $ - $ 49,782 $ - $ 49,782 Government agency securities - 18,593 - 18,593 Mortgage-backed securities - 546,431 - 546,431 State and municipal securities - 51,328 - 51,328 Corporate debt - 154,001 6,647 160,648 Total assets at fair value $ - $ 820,135 $ 6,647 $ 826,782 Fair Value Measurements at December 31, 2019 Using Quoted Prices in Active Markets Significant Other Significant for Identical Observable Inputs Unobservable Assets (Level 1) (Level 2) Inputs (Level 3) Total Assets Measured on a Recurring Basis: (In Thousands) Available for sale debt securities: U.S. Treasury securities $ - $ 49,210 $ - $ 49,210 Government agency securities - 18,386 - 18,386 Mortgage-backed securities - 474,054 - 474,054 State and municipal securities - 57,272 - 57,272 Corporate debt - 153,881 6,596 160,477 Total assets at fair value $ - $ 752,803 $ 6,596 $ 759,399 |
Fair Value Measurements, Nonrecurring [Table Text Block] | Fair Value Measurements at March 31, 2020 Using Quoted Prices in Active Markets Significant Other Significant for Identical Observable Unobservable Assets (Level 1) Inputs (Level 2) Inputs (Level 3) Total Assets Measured on a Nonrecurring Basis: (In Thousands) Impaired loans $ - $ - $ 50,404 $ 50,404 Other real estate owned and repossessed assets - - 7,448 7,448 Total assets at fair value $ - $ - $ 57,852 $ 57,852 Fair Value Measurements at December 31, 2019 Using Quoted Prices in Active Markets Significant Other Significant for Identical Observable Unobservable Assets (Level 1) Inputs (Level 2) Inputs (Level 3) Total Assets Measured on a Nonrecurring Basis: (In Thousands) Impaired loans $ - $ - $ 33,344 $ 33,344 Other real estate owned - - 8,178 8,178 Total assets at fair value $ - $ - $ 41,522 $ 41,522 |
Fair Value, by Balance Sheet Grouping [Table Text Block] | March 31, 2020 December 31, 2019 Carrying Carrying Amount Fair Value Amount Fair Value (In Thousands) Financial Assets: Level 1 inputs: Cash and cash equivalents $ 378,404 $ 378,404 $ 530,127 $ 530,127 Level 2 inputs: Federal funds sold 306,127 306,127 100,473 100,473 Mortgage loans held for sale 6,747 6,775 6,302 6,312 Level 3 Inputs: Held to maturity debt securities 250 250 250 250 Loans, net 7,433,018 7,401,907 7,151,523 7,099,198 Financial Liabilities: Level 2 inputs: Deposits $ 7,832,655 $ 7,817,647 $ 7,530,433 $ 7,534,984 Federal funds purchased 543,623 543,623 470,749 470,749 Other borrowings 64,707 64,950 64,703 65,048 |
Note 3 - Earnings Per Common _3
Note 3 - Earnings Per Common Share - Summary of Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Weighted average common shares outstanding (in shares) | 53,704,224 | 53,465,091 |
Net income available to common stockholders | $ 34,778 | $ 35,010 |
Basic earnings per common share (in dollars per share) | $ 0.65 | $ 0.65 |
Dilutive effects of assumed conversions and exercise of stock options and warrants (in shares) | 463,190 | 611,447 |
Weighted average common and dilutive potential common shares outstanding (in shares) | 54,167,414 | 54,076,538 |
Net income available to common stockholders | $ 34,778 | $ 35,010 |
Diluted earnings per common share (in dollars per share) | $ 0.64 | $ 0.65 |
Note 4 - Securities (Details Te
Note 4 - Securities (Details Textual) $ in Millions | Mar. 31, 2020USD ($) | Dec. 31, 2019USD ($) |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Number of Positions | 4 | |
Available for Sale Securities Debt Securities, Number of Positions | 678 | |
Pledged Financial Instruments, Not Separately Reported, Securities, Total | $ 437.6 | $ 389.9 |
Note 4 - Securities - Amortized
Note 4 - Securities - Amortized Cost and Fair Value of Available-for-sale and Held-to-maturity Securities (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 | |
Available for sale, amortized cost | $ 804,755 | $ 752,181 | |
Available for sale, gross unrealized gain | 22,541 | 8,726 | |
Available for sale, gross unrealized loss | (514) | (1,508) | |
Available for sale, fair value | 826,782 | 759,399 | [1] |
Held to maturity, amortized cost | 250 | 250 | |
Held to maturity, gross unrealized gain | 0 | 0 | |
Held to maturity, gross unrealized loss | 0 | 0 | |
Held to maturity debt securities, fair value | 250 | 250 | |
US Treasury Securities [Member] | |||
Available for sale, amortized cost | 48,956 | 48,923 | |
Available for sale, gross unrealized gain | 826 | 291 | |
Available for sale, gross unrealized loss | 0 | (4) | |
Available for sale, fair value | 49,782 | 49,210 | |
US Government Agencies Debt Securities [Member] | |||
Available for sale, amortized cost | 18,188 | 18,245 | |
Available for sale, gross unrealized gain | 405 | 143 | |
Available for sale, gross unrealized loss | 0 | (2) | |
Available for sale, fair value | 18,593 | 18,386 | |
Collateralized Mortgage Backed Securities [Member] | |||
Available for sale, amortized cost | 529,126 | 470,513 | |
Available for sale, gross unrealized gain | 17,305 | 4,859 | |
Available for sale, gross unrealized loss | 0 | (1,318) | |
Available for sale, fair value | 546,431 | 474,054 | |
US States and Political Subdivisions Debt Securities [Member] | |||
Available for sale, amortized cost | 50,989 | 56,951 | |
Available for sale, gross unrealized gain | 353 | 335 | |
Available for sale, gross unrealized loss | (14) | (14) | |
Available for sale, fair value | 51,328 | 57,272 | |
Held to maturity, amortized cost | 250 | 250 | |
Held to maturity, gross unrealized gain | 0 | 0 | |
Held to maturity, gross unrealized loss | 0 | 0 | |
Held to maturity debt securities, fair value | 250 | 250 | |
Corporate Debt Securities [Member] | |||
Available for sale, amortized cost | 157,496 | 157,549 | |
Available for sale, gross unrealized gain | 3,652 | 3,098 | |
Available for sale, gross unrealized loss | (500) | (170) | |
Available for sale, fair value | $ 160,648 | $ 160,477 | |
[1] | derived from audited financial statements. |
Note 4 - Securities - Amortiz_2
Note 4 - Securities - Amortized Cost and Fair Value of Contractual Securities (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 | |
Due within one year, amortized cost | $ 59,924 | $ 58,722 | |
Due within one year, fair value | 60,306 | 58,975 | |
Due from one to five years, amortized cost | 83,414 | 90,034 | |
Due from one to five years, fair value | 84,963 | 91,005 | |
Due from five to ten years, amortized cost | 130,876 | 129,501 | |
Due from five to ten years, fair value | 133,641 | 131,914 | |
Due after ten years, amortized cost | 1,415 | 3,411 | |
Due after ten years, fair value | 1,441 | 3,451 | |
Mortgage-backed securities, amortized cost | 529,126 | 470,513 | |
Mortgage-backed securities, fair value | 546,431 | 474,054 | |
Available for sale, amortized cost | 804,755 | 752,181 | |
Available for sale, fair value | 826,782 | 759,399 | [1] |
Due from one to five years, amortized cost | 250 | 250 | |
Due from one to five years, fair value | 250 | 250 | |
Held to maturity, amortized cost | 250 | 250 | [1] |
Held to maturity debt securities, fair value | $ 250 | $ 250 | |
[1] | derived from audited financial statements. |
Note 4 - Securities - Investmen
Note 4 - Securities - Investment Securities Continuous Unrealized Loss Position (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Less Than Twelve Months, Gross Unrealized Losses | $ (510) | $ (1,386) |
Less Than Twelve Months, Fair Value | 19,060 | 178,489 |
Twelve Months or More, Gross Unrealized Losses | (4) | (122) |
Twelve Months or More, Fair Value | 721 | 27,558 |
Total, Gross Unrealized Losses | (514) | (1,508) |
Total, Fair Value | 19,781 | 206,047 |
US States and Political Subdivisions Debt Securities [Member] | ||
Less Than Twelve Months, Gross Unrealized Losses | (10) | (4) |
Less Than Twelve Months, Fair Value | 3,582 | 1,900 |
Twelve Months or More, Gross Unrealized Losses | (4) | (10) |
Twelve Months or More, Fair Value | 721 | 2,647 |
Total, Gross Unrealized Losses | (14) | (14) |
Total, Fair Value | 4,303 | 4,547 |
Corporate Debt Securities [Member] | ||
Less Than Twelve Months, Gross Unrealized Losses | (500) | (170) |
Less Than Twelve Months, Fair Value | 15,478 | 19,981 |
Twelve Months or More, Gross Unrealized Losses | 0 | 0 |
Twelve Months or More, Fair Value | 0 | 0 |
Total, Gross Unrealized Losses | (500) | (170) |
Total, Fair Value | $ 15,478 | 19,981 |
US Treasury Securities [Member] | ||
Less Than Twelve Months, Gross Unrealized Losses | (4) | |
Less Than Twelve Months, Fair Value | 3,012 | |
Twelve Months or More, Gross Unrealized Losses | 0 | |
Twelve Months or More, Fair Value | 0 | |
Total, Gross Unrealized Losses | (4) | |
Total, Fair Value | 3,012 | |
US Government Agencies Debt Securities [Member] | ||
Less Than Twelve Months, Gross Unrealized Losses | (2) | |
Less Than Twelve Months, Fair Value | 266 | |
Twelve Months or More, Gross Unrealized Losses | 0 | |
Twelve Months or More, Fair Value | 0 | |
Total, Gross Unrealized Losses | (2) | |
Total, Fair Value | 266 | |
Collateralized Mortgage Backed Securities [Member] | ||
Less Than Twelve Months, Gross Unrealized Losses | (1,206) | |
Less Than Twelve Months, Fair Value | 153,330 | |
Twelve Months or More, Gross Unrealized Losses | (112) | |
Twelve Months or More, Fair Value | 24,911 | |
Total, Gross Unrealized Losses | (1,318) | |
Total, Fair Value | $ 178,241 |
Note 5 - Loans (Details Textual
Note 5 - Loans (Details Textual) | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2020USD ($) | Mar. 31, 2019USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | ||
Provision for Loan and Lease Losses, Total | $ 85,414,000 | $ 70,207,000 | $ 76,584,000 | [1] | $ 68,600,000 |
Financing Receivable, Number of Payment Deferrals | 730 | ||||
Financing Receivable, Payment Deferral, Recorded Investment | $ 574,700,000 | ||||
Financing Receivable, Troubled Debt Restructuring | 2,400,000 | 12,300,000 | 3,300,000 | ||
Financing Receivable, Modifications, Recorded Investment, Accruing Interest | 2,400,000 | 2,700,000 | 3,300,000 | ||
Financing Receivables, Impaired, Troubled Debt Restructuring, Write-down | $ 223,000 | $ 2,600,000 | $ 929,000 | ||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 0 | ||||
Financing Receivable, Modifications, Number of Contracts | 1 | ||||
Commercial Portfolio Segment [Member] | |||||
Financing Receivable, Troubled Debt Restructuring | $ 350,000 | ||||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 2 | ||||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | $ 325,000 | ||||
Financing Receivable, Modifications, Number of Contracts | 1 | ||||
Principal Only Deferrals [Member] | |||||
Financing Receivable, Number of Payment Deferrals | 720 | ||||
Financing Receivable, Payment Deferral, Recorded Investment | $ 547,800,000 | ||||
Interest Only Deferral [Member] | |||||
Financing Receivable, Number of Payment Deferrals | 5 | ||||
Financing Receivable, Payment Deferral, Recorded Investment | $ 18,300,000 | ||||
Principal and Interest Deferrals [Member] | |||||
Financing Receivable, Number of Payment Deferrals | 5 | ||||
Financing Receivable, Payment Deferral, Recorded Investment | $ 8,600,000 | ||||
COVID-19 [Member] | |||||
Provision for Loan and Lease Losses, Total | $ 6,700,000 | ||||
[1] | derived from audited financial statements. |
Note 5 - Loans - Summary of Loa
Note 5 - Loans - Summary of Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | |
Financing receivable, gross | $ 7,568,836 | $ 7,261,451 | |||
Less: Allowance for loan losses | (85,414) | (76,584) | [1] | $ (70,207) | $ (68,600) |
Net Loans | $ 7,483,422 | $ 7,184,867 | [1] | ||
Financing receivable, gross percentage | 100.00% | 100.00% | |||
Commercial Real Estate Portfolio Segment [Member] | |||||
Financing receivable, gross | $ 2,771,307 | $ 2,696,210 | |||
Less: Allowance for loan losses | $ (48,780) | $ (43,666) | (39,459) | (39,016) | |
Financing receivable, gross percentage | 36.61% | 37.13% | |||
Real Estate Portfolio Segment[Member] | |||||
Financing receivable, gross | $ 4,188,539 | $ 3,979,060 | |||
Financing receivable, gross percentage | 55.34% | 54.80% | |||
Real Estate Portfolio Segment[Member] | Construction Loans [Member] | |||||
Financing receivable, gross | $ 548,578 | $ 521,392 | |||
Less: Allowance for loan losses | $ (3,757) | $ (2,768) | (3,595) | (3,522) | |
Financing receivable, gross percentage | 7.25% | 7.18% | |||
Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | |||||
Financing receivable, gross | $ 1,678,532 | $ 1,587,478 | |||
Financing receivable, gross percentage | 22.18% | 21.86% | |||
Real Estate Portfolio Segment[Member] | One to Four Family [Member] | |||||
Financing receivable, gross | $ 675,870 | $ 644,188 | |||
Financing receivable, gross percentage | 8.93% | 8.87% | |||
Real Estate Portfolio Segment[Member] | Other Mortgages [Member] | |||||
Financing receivable, gross | $ 1,834,137 | $ 1,747,394 | |||
Financing receivable, gross percentage | 24.23% | 24.07% | |||
Consumer Portfolio Segment [Member] | |||||
Financing receivable, gross | $ 60,412 | $ 64,789 | |||
Less: Allowance for loan losses | $ (517) | $ (497) | $ (442) | $ (554) | |
Financing receivable, gross percentage | 0.80% | 0.89% | |||
[1] | derived from audited financial statements. |
Note 5 - Loans - Loans by Credi
Note 5 - Loans - Loans by Credit Quality Indicator (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Financing receivable, gross | $ 7,568,836 | $ 7,261,451 |
Pass [Member] | ||
Financing receivable, gross | 7,467,048 | 7,137,760 |
Special Mention [Member] | ||
Financing receivable, gross | 42,689 | 81,952 |
Substandard [Member] | ||
Financing receivable, gross | 59,099 | 41,739 |
Doubtful [Member] | ||
Financing receivable, gross | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | ||
Financing receivable, gross | 2,771,307 | 2,696,210 |
Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | ||
Financing receivable, gross | 2,708,845 | 2,629,487 |
Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member] | ||
Financing receivable, gross | 17,902 | 46,176 |
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | ||
Financing receivable, gross | 44,560 | 20,547 |
Commercial Real Estate Portfolio Segment [Member] | Doubtful [Member] | ||
Financing receivable, gross | 0 | 0 |
Real Estate Portfolio Segment[Member] | ||
Financing receivable, gross | 4,188,539 | 3,979,060 |
Real Estate Portfolio Segment[Member] | Construction Loans [Member] | ||
Financing receivable, gross | 548,578 | 521,392 |
Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | ||
Financing receivable, gross | 1,678,532 | 1,587,478 |
Real Estate Portfolio Segment[Member] | One to Four Family [Member] | ||
Financing receivable, gross | 675,870 | 644,188 |
Real Estate Portfolio Segment[Member] | Other Mortgages [Member] | ||
Financing receivable, gross | 1,834,137 | 1,747,394 |
Real Estate Portfolio Segment[Member] | Pass [Member] | ||
Financing receivable, gross | 4,155,141 | 3,931,111 |
Real Estate Portfolio Segment[Member] | Pass [Member] | Construction Loans [Member] | ||
Financing receivable, gross | 542,659 | 512,373 |
Real Estate Portfolio Segment[Member] | Pass [Member] | Owner Occupied Commercial [Member] | ||
Financing receivable, gross | 1,658,909 | 1,555,283 |
Real Estate Portfolio Segment[Member] | Pass [Member] | One to Four Family [Member] | ||
Financing receivable, gross | 671,407 | 639,959 |
Real Estate Portfolio Segment[Member] | Pass [Member] | Other Mortgages [Member] | ||
Financing receivable, gross | 1,824,825 | 1,735,869 |
Real Estate Portfolio Segment[Member] | Special Mention [Member] | ||
Financing receivable, gross | 20,651 | 31,045 |
Real Estate Portfolio Segment[Member] | Special Mention [Member] | Construction Loans [Member] | ||
Financing receivable, gross | 4,136 | 4,731 |
Real Estate Portfolio Segment[Member] | Special Mention [Member] | Owner Occupied Commercial [Member] | ||
Financing receivable, gross | 11,014 | 18,240 |
Real Estate Portfolio Segment[Member] | Special Mention [Member] | One to Four Family [Member] | ||
Financing receivable, gross | 2,080 | 2,787 |
Real Estate Portfolio Segment[Member] | Special Mention [Member] | Other Mortgages [Member] | ||
Financing receivable, gross | 7,557 | 10,018 |
Real Estate Portfolio Segment[Member] | Substandard [Member] | ||
Financing receivable, gross | 12,747 | 16,904 |
Real Estate Portfolio Segment[Member] | Substandard [Member] | Construction Loans [Member] | ||
Financing receivable, gross | 1,783 | 4,288 |
Real Estate Portfolio Segment[Member] | Substandard [Member] | Owner Occupied Commercial [Member] | ||
Financing receivable, gross | 8,609 | 13,955 |
Real Estate Portfolio Segment[Member] | Substandard [Member] | One to Four Family [Member] | ||
Financing receivable, gross | 2,383 | 1,442 |
Real Estate Portfolio Segment[Member] | Substandard [Member] | Other Mortgages [Member] | ||
Financing receivable, gross | 1,755 | 1,507 |
Real Estate Portfolio Segment[Member] | Doubtful [Member] | ||
Financing receivable, gross | 0 | 0 |
Real Estate Portfolio Segment[Member] | Doubtful [Member] | Construction Loans [Member] | ||
Financing receivable, gross | 0 | 0 |
Real Estate Portfolio Segment[Member] | Doubtful [Member] | Owner Occupied Commercial [Member] | ||
Financing receivable, gross | 0 | 0 |
Real Estate Portfolio Segment[Member] | Doubtful [Member] | One to Four Family [Member] | ||
Financing receivable, gross | 0 | 0 |
Real Estate Portfolio Segment[Member] | Doubtful [Member] | Other Mortgages [Member] | ||
Financing receivable, gross | 0 | 0 |
Consumer Portfolio Segment [Member] | ||
Financing receivable, gross | 60,412 | 64,789 |
Consumer Portfolio Segment [Member] | Pass [Member] | ||
Financing receivable, gross | 60,403 | 64,789 |
Consumer Portfolio Segment [Member] | Special Mention [Member] | ||
Financing receivable, gross | 0 | 0 |
Consumer Portfolio Segment [Member] | Substandard [Member] | ||
Financing receivable, gross | 9 | 0 |
Consumer Portfolio Segment [Member] | Doubtful [Member] | ||
Financing receivable, gross | $ 0 | $ 0 |
Note 5 - Loans - Loans by Perfo
Note 5 - Loans - Loans by Performance Status (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Financing receivable, gross | $ 7,568,836 | $ 7,261,451 |
Performing Financial Instruments [Member] | ||
Financing receivable, gross | 7,534,968 | 7,225,339 |
Nonperforming Financial Instruments [Member] | ||
Financing receivable, gross | 33,868 | 36,112 |
Commercial Real Estate Portfolio Segment [Member] | ||
Financing receivable, gross | 2,771,307 | 2,696,210 |
Commercial Real Estate Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Financing receivable, gross | 2,756,132 | 2,681,280 |
Commercial Real Estate Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Financing receivable, gross | 15,175 | 14,930 |
Real Estate Portfolio Segment[Member] | ||
Financing receivable, gross | 4,188,539 | 3,979,060 |
Real Estate Portfolio Segment[Member] | Construction Loans [Member] | ||
Financing receivable, gross | 548,578 | 521,392 |
Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | ||
Financing receivable, gross | 1,678,532 | 1,587,478 |
Real Estate Portfolio Segment[Member] | One to Four Family [Member] | ||
Financing receivable, gross | 675,870 | 644,188 |
Real Estate Portfolio Segment[Member] | Other Mortgages [Member] | ||
Financing receivable, gross | 1,834,137 | 1,747,394 |
Real Estate Portfolio Segment[Member] | Performing Financial Instruments [Member] | ||
Financing receivable, gross | 4,171,675 | 3,959,490 |
Real Estate Portfolio Segment[Member] | Performing Financial Instruments [Member] | Construction Loans [Member] | ||
Financing receivable, gross | 546,774 | 519,803 |
Real Estate Portfolio Segment[Member] | Performing Financial Instruments [Member] | Owner Occupied Commercial [Member] | ||
Financing receivable, gross | 1,668,297 | 1,576,652 |
Real Estate Portfolio Segment[Member] | Performing Financial Instruments [Member] | One to Four Family [Member] | ||
Financing receivable, gross | 674,134 | 641,875 |
Real Estate Portfolio Segment[Member] | Performing Financial Instruments [Member] | Other Mortgages [Member] | ||
Financing receivable, gross | 1,829,244 | 1,740,963 |
Real Estate Portfolio Segment[Member] | Nonperforming Financial Instruments [Member] | ||
Financing receivable, gross | 16,864 | 19,570 |
Real Estate Portfolio Segment[Member] | Nonperforming Financial Instruments [Member] | Construction Loans [Member] | ||
Financing receivable, gross | 1,804 | 1,589 |
Real Estate Portfolio Segment[Member] | Nonperforming Financial Instruments [Member] | Owner Occupied Commercial [Member] | ||
Financing receivable, gross | 10,235 | 10,826 |
Real Estate Portfolio Segment[Member] | Nonperforming Financial Instruments [Member] | One to Four Family [Member] | ||
Financing receivable, gross | 1,736 | 2,313 |
Real Estate Portfolio Segment[Member] | Nonperforming Financial Instruments [Member] | Other Mortgages [Member] | ||
Financing receivable, gross | 4,893 | 6,431 |
Consumer Portfolio Segment [Member] | ||
Financing receivable, gross | 60,412 | 64,789 |
Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Financing receivable, gross | 60,387 | 64,766 |
Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Financing receivable, gross | $ 25 | $ 23 |
Note 5 - Loans - Loans Categori
Note 5 - Loans - Loans Categorized by Past Due Status (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 | |
Accrual loans, past due | $ 13,496 | $ 20,754 | |
Non-accrual | 28,914 | 30,091 | |
Current | 7,526,426 | 7,210,606 | |
Total loans | 7,568,836 | 7,261,451 | [1] |
Financial Asset, 30 to 59 Days Past Due [Member] | |||
Accrual loans, past due | 6,522 | 6,555 | |
Financial Asset, 60 to 89 Days Past Due [Member] | |||
Accrual loans, past due | 2,020 | 8,178 | |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Accrual loans, past due | 4,954 | 6,021 | |
Commercial Real Estate Portfolio Segment [Member] | |||
Accrual loans, past due | 2,115 | 3,680 | |
Non-accrual | 15,130 | 14,729 | |
Current | 2,754,062 | 2,677,801 | |
Total loans | 2,771,307 | 2,696,210 | |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | |||
Accrual loans, past due | 1,859 | 3,135 | |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | |||
Accrual loans, past due | 211 | 344 | |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Accrual loans, past due | 45 | 201 | |
Real Estate Portfolio Segment[Member] | |||
Accrual loans, past due | 11,251 | 16,161 | |
Non-accrual | 11,971 | 13,773 | |
Current | 4,165,317 | 3,949,126 | |
Total loans | 4,188,539 | 3,979,060 | |
Real Estate Portfolio Segment[Member] | Construction Loans [Member] | |||
Accrual loans, past due | 0 | 830 | |
Non-accrual | 1,804 | 1,589 | |
Current | 546,774 | 518,973 | |
Total loans | 548,578 | 521,392 | |
Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | |||
Accrual loans, past due | 4,167 | 8,159 | |
Non-accrual | 10,235 | 10,826 | |
Current | 1,664,130 | 1,568,493 | |
Total loans | 1,678,532 | 1,587,478 | |
Real Estate Portfolio Segment[Member] | One to Four Family [Member] | |||
Accrual loans, past due | 2,191 | 3,078 | |
Non-accrual | 1,736 | 1,440 | |
Current | 671,943 | 639,670 | |
Total loans | 675,870 | 644,188 | |
Real Estate Portfolio Segment[Member] | Other Mortgages [Member] | |||
Accrual loans, past due | 4,893 | 4,924 | |
Non-accrual | 0 | 1,507 | |
Current | 1,829,244 | 1,740,963 | |
Total loans | 1,834,137 | 1,747,394 | |
Real Estate Portfolio Segment[Member] | Financial Asset, 30 to 59 Days Past Due [Member] | |||
Accrual loans, past due | 4,580 | 2,555 | |
Real Estate Portfolio Segment[Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Construction Loans [Member] | |||
Accrual loans, past due | 0 | 830 | |
Real Estate Portfolio Segment[Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Owner Occupied Commercial [Member] | |||
Accrual loans, past due | 2,389 | 917 | |
Real Estate Portfolio Segment[Member] | Financial Asset, 30 to 59 Days Past Due [Member] | One to Four Family [Member] | |||
Accrual loans, past due | 2,191 | 1,638 | |
Real Estate Portfolio Segment[Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Other Mortgages [Member] | |||
Accrual loans, past due | 0 | 0 | |
Real Estate Portfolio Segment[Member] | Financial Asset, 60 to 89 Days Past Due [Member] | |||
Accrual loans, past due | 1,778 | 7,809 | |
Real Estate Portfolio Segment[Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Construction Loans [Member] | |||
Accrual loans, past due | 0 | 0 | |
Real Estate Portfolio Segment[Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Owner Occupied Commercial [Member] | |||
Accrual loans, past due | 1,778 | 7,242 | |
Real Estate Portfolio Segment[Member] | Financial Asset, 60 to 89 Days Past Due [Member] | One to Four Family [Member] | |||
Accrual loans, past due | 0 | 567 | |
Real Estate Portfolio Segment[Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Other Mortgages [Member] | |||
Accrual loans, past due | 0 | 0 | |
Real Estate Portfolio Segment[Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Accrual loans, past due | 4,893 | 5,797 | |
Real Estate Portfolio Segment[Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Construction Loans [Member] | |||
Accrual loans, past due | 0 | 0 | |
Real Estate Portfolio Segment[Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Owner Occupied Commercial [Member] | |||
Accrual loans, past due | 0 | 0 | |
Real Estate Portfolio Segment[Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | One to Four Family [Member] | |||
Accrual loans, past due | 0 | 873 | |
Real Estate Portfolio Segment[Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Other Mortgages [Member] | |||
Accrual loans, past due | 4,893 | 4,924 | |
Consumer Portfolio Segment [Member] | |||
Accrual loans, past due | 130 | 83 | |
Non-accrual | 9 | 0 | |
Current | 60,273 | 64,706 | |
Total loans | 60,412 | 64,789 | |
Consumer Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | |||
Accrual loans, past due | 83 | 35 | |
Consumer Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | |||
Accrual loans, past due | 31 | 25 | |
Consumer Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Accrual loans, past due | $ 16 | $ 23 | |
[1] | derived from audited financial statements. |
Note 5 - Loans - Analysis of Al
Note 5 - Loans - Analysis of Allowance for Loans Losses by Portfolio Segment (Details) - USD ($) $ in Thousands | 3 Months Ended | ||||
Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2019 | |||
Balance, beginning of period | $ 76,584 | [1] | $ 68,600 | ||
Charge-offs | (4,830) | (3,305) | |||
Recoveries | 76 | 27 | |||
Provision | 13,584 | 4,885 | |||
Balance, end of period | 85,414 | 70,207 | |||
Individually Evaluated for Impairment | 10,122 | $ 9,804 | |||
Collectively Evaluated for Impairment | 75,292 | 66,780 | |||
Loans | 7,568,836 | 7,261,451 | [1] | ||
Individually Evaluated for Impairment | 60,526 | 43,148 | |||
Collectively Evaluated for Impairment | 7,508,310 | 7,218,303 | |||
Commercial Real Estate Portfolio Segment [Member] | |||||
Balance, beginning of period | 43,666 | 39,016 | |||
Charge-offs | (2,640) | (3,037) | |||
Recoveries | 62 | 12 | |||
Provision | 7,692 | 3,468 | |||
Balance, end of period | 48,780 | 39,459 | |||
Individually Evaluated for Impairment | 8,840 | 6,085 | |||
Collectively Evaluated for Impairment | 39,940 | 37,581 | |||
Loans | 2,771,307 | 2,696,210 | |||
Individually Evaluated for Impairment | 44,868 | 20,843 | |||
Collectively Evaluated for Impairment | 2,726,439 | 2,675,367 | |||
Real Estate Portfolio Segment[Member] | |||||
Loans | 4,188,539 | 3,979,060 | |||
Real Estate Portfolio Segment[Member] | Construction Loans [Member] | |||||
Balance, beginning of period | 2,768 | 3,522 | |||
Charge-offs | (454) | 0 | |||
Recoveries | 1 | 1 | |||
Provision | 1,442 | 72 | |||
Balance, end of period | 3,757 | 3,595 | |||
Individually Evaluated for Impairment | 351 | 86 | |||
Collectively Evaluated for Impairment | 3,406 | 2,682 | |||
Loans | 548,578 | 521,392 | |||
Individually Evaluated for Impairment | 1,834 | 4,320 | |||
Collectively Evaluated for Impairment | 546,744 | 517,072 | |||
Real Estate Portfolio Segment[Member] | Real Estate Loan [Member] | |||||
Balance, beginning of period | 29,653 | 25,508 | |||
Charge-offs | (1,678) | (50) | |||
Recoveries | 1 | 7 | |||
Provision | 4,384 | 1,246 | |||
Balance, end of period | 32,360 | 26,711 | |||
Individually Evaluated for Impairment | 931 | 3,633 | |||
Collectively Evaluated for Impairment | 31,429 | 26,020 | |||
Loans | 4,188,539 | 3,979,060 | |||
Individually Evaluated for Impairment | 13,815 | 17,985 | |||
Collectively Evaluated for Impairment | 4,174,724 | 3,961,075 | |||
Consumer Portfolio Segment [Member] | |||||
Balance, beginning of period | 497 | 554 | |||
Charge-offs | (58) | (218) | |||
Recoveries | 12 | 7 | |||
Provision | 66 | 99 | |||
Balance, end of period | 517 | $ 442 | |||
Individually Evaluated for Impairment | 0 | 0 | |||
Collectively Evaluated for Impairment | 517 | 497 | |||
Loans | 60,412 | 64,789 | |||
Individually Evaluated for Impairment | 9 | 0 | |||
Collectively Evaluated for Impairment | $ 60,403 | $ 64,789 | |||
[1] | derived from audited financial statements. |
Note 5 - Loans - Summary of Imp
Note 5 - Loans - Summary of Impaired Loans (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2020 | Dec. 31, 2019 | |
Recorded investment, with no allowance | $ 17,012 | $ 19,183 |
Unpaid principal balance, with no allowance | 17,112 | 20,831 |
Average recorded investment, with no allowance | 17,161 | 21,184 |
Interest income recognized in period, with no allowance | 228 | 1,308 |
Recorded investment, with an allowance | 43,514 | 23,965 |
Unpaid principal balance, with an allowance | 48,659 | 34,584 |
Related allowance | 10,122 | 9,804 |
Average recorded investment, with an allowance | 49,776 | 37,580 |
Interest income recognized in period, with an allowance | 250 | 745 |
Recorded investment | 60,526 | 43,148 |
Unpaid principal balance | 65,771 | 55,415 |
Average recorded investment | 66,937 | 58,764 |
Interest income recognized in period | 478 | 2,053 |
Commercial Real Estate Portfolio Segment [Member] | ||
Recorded investment, with no allowance | 12,360 | 9,015 |
Unpaid principal balance, with no allowance | 12,360 | 10,563 |
Average recorded investment, with no allowance | 12,352 | 11,284 |
Interest income recognized in period, with no allowance | 176 | 562 |
Recorded investment, with an allowance | 32,508 | 11,828 |
Unpaid principal balance, with an allowance | 32,775 | 19,307 |
Related allowance | 8,840 | 6,085 |
Average recorded investment, with an allowance | 33,186 | 19,714 |
Interest income recognized in period, with an allowance | 239 | 395 |
Recorded investment | 44,868 | 20,843 |
Unpaid principal balance | 45,135 | 29,870 |
Average recorded investment | 45,538 | 30,998 |
Interest income recognized in period | 415 | 957 |
Real Estate Portfolio Segment[Member] | ||
Recorded investment, with no allowance | 4,613 | 7,437 |
Unpaid principal balance, with no allowance | 4,709 | 7,533 |
Average recorded investment, with no allowance | 4,765 | 7,837 |
Interest income recognized in period, with no allowance | 52 | 620 |
Recorded investment, with an allowance | 9,202 | 10,548 |
Unpaid principal balance, with an allowance | 14,002 | 13,688 |
Related allowance | 931 | 3,633 |
Average recorded investment, with an allowance | 13,841 | 16,252 |
Interest income recognized in period, with an allowance | 11 | 323 |
Recorded investment | 13,815 | 17,985 |
Unpaid principal balance | 18,711 | 21,221 |
Average recorded investment | 18,606 | 24,089 |
Interest income recognized in period | 63 | 943 |
Real Estate Portfolio Segment[Member] | Construction Loans [Member] | ||
Recorded investment, with no allowance | 30 | 2,731 |
Unpaid principal balance, with no allowance | 34 | 2,735 |
Average recorded investment, with no allowance | 35 | 2,063 |
Interest income recognized in period, with no allowance | 0 | 126 |
Recorded investment, with an allowance | 1,804 | 1,589 |
Unpaid principal balance, with an allowance | 1,882 | 1,589 |
Related allowance | 351 | 86 |
Average recorded investment, with an allowance | 2,749 | 1,614 |
Interest income recognized in period, with an allowance | 0 | 27 |
Recorded investment | 1,834 | 4,320 |
Unpaid principal balance | 1,916 | 4,324 |
Average recorded investment | 2,784 | 3,677 |
Interest income recognized in period | 0 | 153 |
Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | ||
Recorded investment, with no allowance | 2,195 | 7,150 |
Unpaid principal balance, with no allowance | 2,291 | 7,246 |
Average recorded investment, with no allowance | 2,299 | 7,548 |
Interest income recognized in period, with no allowance | 33 | 618 |
Recorded investment, with an allowance | 7,487 | 7,888 |
Unpaid principal balance, with an allowance | 12,127 | 11,028 |
Related allowance | 827 | 2,456 |
Average recorded investment, with an allowance | 12,159 | 13,627 |
Interest income recognized in period, with an allowance | 5 | 301 |
Recorded investment | 9,682 | 15,038 |
Unpaid principal balance | 14,418 | 18,274 |
Average recorded investment | 14,458 | 21,175 |
Interest income recognized in period | 38 | 919 |
Real Estate Portfolio Segment[Member] | One to Four Family [Member] | ||
Recorded investment, with no allowance | 717 | 287 |
Unpaid principal balance, with no allowance | 717 | 287 |
Average recorded investment, with no allowance | 735 | 289 |
Interest income recognized in period, with no allowance | 1 | 2 |
Recorded investment, with an allowance | 1,662 | 1,153 |
Unpaid principal balance, with an allowance | 1,822 | 1,153 |
Related allowance | 104 | 176 |
Average recorded investment, with an allowance | 1,526 | 1,157 |
Interest income recognized in period, with an allowance | 4 | 1 |
Recorded investment | 2,379 | 1,440 |
Unpaid principal balance | 2,539 | 1,440 |
Average recorded investment | 2,261 | 1,446 |
Interest income recognized in period | 5 | 3 |
Real Estate Portfolio Segment[Member] | Other Mortgages [Member] | ||
Recorded investment, with no allowance | 1,701 | 1,507 |
Unpaid principal balance, with no allowance | 1,701 | 1,507 |
Average recorded investment, with no allowance | 1,731 | 1,468 |
Interest income recognized in period, with no allowance | 18 | 21 |
Recorded investment, with an allowance | 53 | 1,507 |
Unpaid principal balance, with an allowance | 53 | 1,507 |
Related allowance | 0 | 1,001 |
Average recorded investment, with an allowance | 156 | 1,468 |
Interest income recognized in period, with an allowance | 2 | 21 |
Recorded investment | 1,754 | |
Unpaid principal balance | 1,754 | |
Average recorded investment | 1,887 | |
Interest income recognized in period | 20 | |
Consumer Portfolio Segment [Member] | ||
Recorded investment, with no allowance | 9 | 0 |
Unpaid principal balance, with no allowance | 9 | 0 |
Average recorded investment, with no allowance | 9 | 0 |
Interest income recognized in period, with no allowance | 0 | 0 |
Recorded investment, with an allowance | 0 | 0 |
Unpaid principal balance, with an allowance | 0 | 0 |
Related allowance | 0 | 0 |
Average recorded investment, with an allowance | 0 | 0 |
Interest income recognized in period, with an allowance | 0 | $ 0 |
Recorded investment | 9 | |
Unpaid principal balance | 9 | |
Average recorded investment | 9 | |
Interest income recognized in period | $ 0 |
Note 5 - Loans - Troubled Debt
Note 5 - Loans - Troubled Debt Restructurings (Details) $ in Thousands | 3 Months Ended |
Mar. 31, 2020USD ($) | |
Number of Contracts | 1 |
Post- Modification Outstanding Recorded Investment | $ 350 |
Pre- Modification Outstanding Recorded Investment | $ 350 |
Commercial Real Estate Portfolio Segment [Member] | |
Number of Contracts | 1 |
Post- Modification Outstanding Recorded Investment | $ 350 |
Pre- Modification Outstanding Recorded Investment | $ 350 |
Real Estate Portfolio Segment[Member] | |
Number of Contracts | 0 |
Post- Modification Outstanding Recorded Investment | $ 0 |
Pre- Modification Outstanding Recorded Investment | $ 0 |
Real Estate Portfolio Segment[Member] | Construction Loans [Member] | |
Number of Contracts | 0 |
Post- Modification Outstanding Recorded Investment | $ 0 |
Pre- Modification Outstanding Recorded Investment | $ 0 |
Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | |
Number of Contracts | 0 |
Post- Modification Outstanding Recorded Investment | $ 0 |
Pre- Modification Outstanding Recorded Investment | $ 0 |
Real Estate Portfolio Segment[Member] | One to Four Family [Member] | |
Number of Contracts | 0 |
Post- Modification Outstanding Recorded Investment | $ 0 |
Pre- Modification Outstanding Recorded Investment | $ 0 |
Real Estate Portfolio Segment[Member] | Other Mortgages [Member] | |
Number of Contracts | 0 |
Post- Modification Outstanding Recorded Investment | $ 0 |
Pre- Modification Outstanding Recorded Investment | $ 0 |
Consumer Portfolio Segment [Member] | |
Number of Contracts | 0 |
Post- Modification Outstanding Recorded Investment | $ 0 |
Pre- Modification Outstanding Recorded Investment | $ 0 |
Note 6 - Leases (Details Textua
Note 6 - Leases (Details Textual) - USD ($) | 3 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2019 | |
Lessee, Operating Lease, Remaining Lease Term (Year) | 9 years | ||
Operating Lease, Right-of-Use Asset | $ 12,500,000 | $ 12,300,000 | |
Operating Lease, Liability, Total | $ 12,594,000 | $ 13,400,000 | |
Operating Lease, Weighted Average Remaining Lease Term (Year) | 5 years 3 months 18 days | ||
Operating Lease, Weighted Average Discount Rate, Percent | 3.19% | ||
Operating Lease, Payments | $ 852,000 | $ 781,000 |
Note 6 - Leases - Maturities of
Note 6 - Leases - Maturities of Operating Lease Liabilities (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
2020 (remaining) | $ 2,544 | |
2021 | 2,688 | |
2022 | 2,655 | |
2023 | 2,181 | |
2024 | 1,180 | |
thereafter | 2,570 | |
Total lease payments | 13,818 | |
Less: imputed interest | (1,224) | |
Present value of operating lease liabilities | $ 12,594 | $ 13,400 |
Note 6 - Leases - Lease Costs (
Note 6 - Leases - Lease Costs (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Operating lease cost | $ 873 | $ 840 |
Short-term lease cost | 16 | 9 |
Variable lease cost | 44 | 38 |
Sublease income | (16) | (6) |
Net lease cost | $ 917 | $ 881 |
Note 7 - Employee and Directo_3
Note 7 - Employee and Director Benefits (Details Textual) - USD ($) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2014 | |
Share-based Payment Arrangement, Expense | $ 276,000 | $ 282,000 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ 12.20 | ||
Share-based Payment Arrangement, Option [Member] | |||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 1,100,000 | ||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 1 year 8 months 12 days | ||
Restricted Stock [Member] | |||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 1,800,000 | ||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 3 years | ||
The 2009 Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 5,550,000 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year) | 10 years |
Note 7 - Employee and Directo_4
Note 7 - Employee and Director Benefits - Assumptions Used to Estimate Fair Value of Stock Option Awards (Details) - Share-based Payment Arrangement, Option [Member] | 3 Months Ended |
Mar. 31, 2020 | |
Expected volatility | 40.00% |
Expected dividends | 1.76% |
Expected term (Year) | 6 years 3 months 18 days |
Risk-free rate | 2.61% |
Note 7 - Employee and Directo_5
Note 7 - Employee and Director Benefits - Summary of Stock Option Activity (Details) - Share-based Payment Arrangement, Option [Member] - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | |
Outstanding, shares (in shares) | 965,248 | 1,238,748 | 1,238,748 | |
Outstanding, weighted average exercise price (in dollars per share) | $ 15.19 | $ 13.02 | $ 13.02 | |
Outstanding, weighted average remaining contractual term (Year) | 5 years 4 months 24 days | 6 years 3 months 18 days | 4 years 10 months 24 days | 5 years 2 months 12 days |
Outstanding, aggregate intrinsic value | $ 12,969 | $ 21,318 | $ 21,911 | $ 23,355 |
Granted (in shares) | 0 | 6,000 | ||
Granted, weighted average exercise price (in dollars per share) | $ 0 | $ 34.09 | ||
Granted, aggregate intrinsic value | $ 0 | $ (2) | ||
Exercised (in shares) | (216,000) | (162,500) | ||
Exercised, weighted average exercise price (in dollars per share) | $ 10.47 | $ 4.59 | ||
Exercised, weighted average remaining contractual term (Year) | 3 years 3 months 18 days | 1 year 8 months 12 days | ||
Exercised, aggregate intrinsic value | $ 4,072 | $ 4,384 | ||
Forfeited (in shares) | (18,000) | 0 | ||
Forfeited, weighted average exercise price (in dollars per share) | $ 30.79 | $ 0 | ||
Forfeited, weighted average remaining contractual term (Year) | 6 years 10 months 24 days | |||
Forfeited, aggregate intrinsic value | $ 26 | $ 0 | ||
Exercisable, shares (in shares) | 210,500 | 354,800 | ||
Exercisable, weighted average exercise price (in dollars per share) | $ 16.54 | $ 8.40 | ||
Exercisable, weighted average remaining contractual term (Year) | 5 years | 4 years | ||
Exercisable, aggregate intrinsic value | $ 7,146 | $ 9,356 | ||
Granted, weighted average remaining contractual term (Year) | 9 years 9 months 18 days | |||
Outstanding, shares (in shares) | 731,248 | 1,082,248 | 965,248 | 1,238,748 |
Outstanding, weighted average exercise price (in dollars per share) | $ 17.68 | $ 14.41 | $ 15.19 | $ 13.02 |
Note 7 - Employee and Directo_6
Note 7 - Employee and Director Benefits - Summary of Restricted Stock Activity (Details) - Restricted Stock [Member] - $ / shares | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Non-vested, shares (in shares) | 71,290 | 44,076 |
Non-vested, weighted average grant date fair value (in dollars per share) | $ 31.53 | $ 28.94 |
Granted, shares (in shares) | 15,300 | 2,700 |
Granted, weighted average grant date fair value (in dollars per share) | $ 39.45 | $ 34.09 |
Vested, shares (in shares) | (8,376) | (5,200) |
Vested, weighted average grant date fair value (in dollars per share) | $ 18.64 | $ 20.31 |
Forfeited, shares (in shares) | 0 | 0 |
Forfeited, weighted average grant date fair value (in dollars per share) | $ 0 | $ 0 |
Non-vested, shares (in shares) | 78,214 | 41,576 |
Non-vested, weighted average grant date fair value (in dollars per share) | $ 34.46 | $ 30.35 |
Note 10 - Recent Accounting P_2
Note 10 - Recent Accounting Pronouncements (Details Textual) | 3 Months Ended |
Mar. 31, 2020 | |
Increase in Allowance for Loan Losses, Percent | 10.00% |
Note 11 - Fair Value Measurem_3
Note 11 - Fair Value Measurement (Details Textual) | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2020USD ($) | Mar. 31, 2019USD ($) | Dec. 31, 2019USD ($) | ||
Debt Securities, Available-for-sale, Total | $ 826,782,000 | $ 759,399,000 | [1] | |
Asset Impairment Charges, Total | 5,000,000 | $ 1,900,000 | ||
Real Estate Owned, Amount of Loss at Acquisition | 563,000 | $ 22,000 | ||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Foreclosure | 287,000 | 103,000 | ||
Mortgage Loans in Process of Foreclosure, Amount | 600,000 | 287,000 | ||
Liabilities, Total | 8,482,997,000 | 8,104,971,000 | [1] | |
Fair Value, Recurring [Member] | ||||
Debt Securities, Available-for-sale, Total | 826,782,000 | 759,399,000 | ||
Liabilities, Total | 0 | 0 | ||
Fair Value, Nonrecurring [Member] | ||||
Liabilities, Total | $ 0 | $ 0 | ||
Minimum [Member] | ||||
Impaired Loans, Fair Value Adjustment, Percent | 0.00% | 0.00% | ||
Real Estate Owned, Fair Value Adjustment, Percent | 5.00% | 5.00% | ||
Weighted Average [Member] | ||||
Impaired Loans, Fair Value Adjustment, Percent | 16.60% | 5.60% | ||
Real Estate Owned, Fair Value Adjustment, Percent | 7.80% | 8.00% | ||
Maximum [Member] | ||||
Impaired Loans, Fair Value Adjustment, Percent | 50.00% | 30.00% | ||
Real Estate Owned, Fair Value Adjustment, Percent | 10.00% | 10.00% | ||
Corporate Debt Securities [Member] | ||||
Number of Available-for-sale Debt Securities Acquired | 2 | |||
Debt Securities, Available-for-sale, Total | $ 160,648,000 | $ 160,477,000 | ||
Corporate Debt Securities [Member] | Fair Value, Recurring [Member] | ||||
Debt Securities, Available-for-sale, Total | 160,648,000 | 160,477,000 | ||
Corporate Debt Securities [Member] | Minimum [Member] | ||||
Debt Securities, Available-for-sale, Total | 94,574,400 | 98,783,600 | ||
Corporate Debt Securities [Member] | Weighted Average [Member] | ||||
Debt Securities, Available-for-sale, Total | 106,777,500 | 112,230,500 | ||
Corporate Debt Securities [Member] | Maximum [Member] | ||||
Debt Securities, Available-for-sale, Total | $ 102,386,500 | $ 102,264,800 | ||
[1] | derived from audited financial statements. |
Note 11 - Fair Value Measurem_4
Note 11 - Fair Value Measurement - Financial Assets and Financial Liabilities Carried at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 | |
Debt Securities, Available-for-sale, Total | $ 826,782 | $ 759,399 | [1] |
US Treasury Securities [Member] | |||
Debt Securities, Available-for-sale, Total | 49,782 | 49,210 | |
US Government Agencies Debt Securities [Member] | |||
Debt Securities, Available-for-sale, Total | 18,593 | 18,386 | |
Collateralized Mortgage Backed Securities [Member] | |||
Debt Securities, Available-for-sale, Total | 546,431 | 474,054 | |
US States and Political Subdivisions Debt Securities [Member] | |||
Debt Securities, Available-for-sale, Total | 51,328 | 57,272 | |
Corporate Debt Securities [Member] | |||
Debt Securities, Available-for-sale, Total | 160,648 | 160,477 | |
Fair Value, Recurring [Member] | |||
Debt Securities, Available-for-sale, Total | 826,782 | 759,399 | |
Fair Value, Recurring [Member] | US Treasury Securities [Member] | |||
Debt Securities, Available-for-sale, Total | 49,782 | 49,210 | |
Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | |||
Debt Securities, Available-for-sale, Total | 18,593 | 18,386 | |
Fair Value, Recurring [Member] | Collateralized Mortgage Backed Securities [Member] | |||
Debt Securities, Available-for-sale, Total | 546,431 | 474,054 | |
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | |||
Debt Securities, Available-for-sale, Total | 51,328 | 57,272 | |
Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | |||
Debt Securities, Available-for-sale, Total | 160,648 | 160,477 | |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member] | |||
Debt Securities, Available-for-sale, Total | 0 | 0 | |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member] | US Treasury Securities [Member] | |||
Debt Securities, Available-for-sale, Total | 0 | 0 | |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | |||
Debt Securities, Available-for-sale, Total | 0 | 0 | |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member] | Collateralized Mortgage Backed Securities [Member] | |||
Debt Securities, Available-for-sale, Total | 0 | 0 | |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | |||
Debt Securities, Available-for-sale, Total | 0 | 0 | |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | |||
Debt Securities, Available-for-sale, Total | 0 | 0 | |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | |||
Debt Securities, Available-for-sale, Total | 820,135 | 752,803 | |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | US Treasury Securities [Member] | |||
Debt Securities, Available-for-sale, Total | 49,782 | 49,210 | |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | |||
Debt Securities, Available-for-sale, Total | 18,593 | 18,386 | |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | Collateralized Mortgage Backed Securities [Member] | |||
Debt Securities, Available-for-sale, Total | 546,431 | 474,054 | |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | |||
Debt Securities, Available-for-sale, Total | 51,328 | 57,272 | |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | |||
Debt Securities, Available-for-sale, Total | 154,001 | 153,881 | |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member] | |||
Debt Securities, Available-for-sale, Total | 6,647 | 6,596 | |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member] | US Treasury Securities [Member] | |||
Debt Securities, Available-for-sale, Total | 0 | 0 | |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | |||
Debt Securities, Available-for-sale, Total | 0 | 0 | |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member] | Collateralized Mortgage Backed Securities [Member] | |||
Debt Securities, Available-for-sale, Total | 0 | 0 | |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | |||
Debt Securities, Available-for-sale, Total | 0 | 0 | |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | |||
Debt Securities, Available-for-sale, Total | $ 6,647 | $ 6,596 | |
[1] | derived from audited financial statements. |
Note 11 - Fair Value Measurem_5
Note 11 - Fair Value Measurement - Carrying Amount and Estimated Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Impaired loans | $ 50,404 | $ 33,344 |
Other real estate owned and repossessed assets | 7,448 | 8,178 |
Total assets at fair value | 57,852 | 41,522 |
Fair Value, Inputs, Level 1 [Member] | ||
Impaired loans | 0 | 0 |
Other real estate owned and repossessed assets | 0 | 0 |
Total assets at fair value | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Impaired loans | 0 | 0 |
Other real estate owned and repossessed assets | 0 | 0 |
Total assets at fair value | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | ||
Impaired loans | 50,404 | 33,344 |
Other real estate owned and repossessed assets | 7,448 | 8,178 |
Total assets at fair value | $ 57,852 | $ 41,522 |
Note 11 - Fair Value Measurem_6
Note 11 - Fair Value Measurement - Financial Assets and Liabilities Carried at Fair Value on Recurring Basis or Nonrecurring Basis (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 | |
Cash and cash equivalents | $ 80,461 | $ 78,618 | [1] |
Federal funds sold | 306,127 | 100,473 | [1] |
Mortgage loans held for sale | 6,747 | 6,312 | [1] |
Held to maturity debt securities | 250 | 250 | |
Net Loans | 7,483,422 | 7,184,867 | [1] |
Federal funds purchased | 543,623 | 470,749 | [1] |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Cash and cash equivalents | 378,404 | 530,127 | |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Federal funds sold | 306,127 | 100,473 | |
Mortgage loans held for sale | 6,747 | 6,302 | |
Deposits | 7,832,655 | 7,530,433 | |
Federal funds purchased | 543,623 | 470,749 | |
Other borrowings | 64,707 | 64,703 | |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Held to maturity debt securities | 250 | 250 | |
Net Loans | 7,433,018 | 7,151,523 | |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Cash and cash equivalents | 378,404 | 530,127 | |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Federal funds sold | 306,127 | 100,473 | |
Mortgage loans held for sale | 6,775 | 6,312 | |
Deposits | 7,817,647 | 7,534,984 | |
Federal funds purchased | 543,623 | 470,749 | |
Other borrowings | 64,950 | 65,048 | |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Held to maturity debt securities | 250 | 250 | |
Net Loans | $ 7,401,907 | $ 7,099,198 | |
[1] | derived from audited financial statements. |
Note 12 - Subsequent Events (De
Note 12 - Subsequent Events (Details Textual) - Subsequent Event [Member] $ in Millions | Apr. 17, 2020USD ($) |
Number of Loans Funded, Payroll Protection Plan | 3,525 |
Amount of Loans Funded, Payment Protection Plan | $ 920.3 |