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OBNK Origin Bancorp

Cover

Cover - USD ($) $ in Millions12 Months Ended
Dec. 31, 2020Feb. 17, 2021Jun. 30, 2020
Cover [Abstract]
Document Type10-K
Document Annual Reporttrue
Document Period End DateDec. 31,
2020
Current Fiscal Year End Date--12-31
Document Transition Reportfalse
Entity File Number001-38487
Entity Registrant NameOrigin Bancorp, Inc.
Entity Incorporation, State or Country CodeLA
Entity Tax Identification Number72-1192928
Entity Address, Address Line One500 South Service Road East
Entity Address, City or TownRuston
Entity Address, State or ProvinceLA
Entity Address, Postal Zip Code71270
City Area Code318
Local Phone Number255-2222
Title of 12(b) SecurityCommon Stock, par value $5.00 per share
Trading SymbolOBNK
Security Exchange NameNASDAQ
Entity Well-known Seasoned IssuerYes
Entity Voluntary FilersNo
Entity Current Reporting StatusNo
Entity Interactive Data CurrentYes
Entity Filer CategoryAccelerated Filer
Entity Small Businessfalse
Entity Emerging Growth Companyfalse
ICFR Auditor Attestation Flagtrue
Entity Shell Companyfalse
Entity Public Float $ 483
Entity Common Stock, Shares Outstanding23,510,166
Documents Incorporated by ReferencePortions of the registrant's Definitive Proxy Statement for the 2021 Annual Meeting of Stockholders of Origin Bancorp, Inc. to be held on April 28, 2021, are incorporated by reference into Part III of this Annual Report on Form 10-K to the extent stated herein. Such Definitive Proxy Statement will be filed with the Securities and Exchange Commission within 120 days after the end of the registrant's fiscal year ended December 31, 2020.
Amendment Flagfalse
Document Fiscal Year Focus2020
Document Fiscal Period FocusFY
Entity CIK0001516912

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in ThousandsDec. 31, 2020Dec. 31, 2019
Assets
Cash and due from banks $ 60,544 $ 62,160
Interest-bearing deposits in banks316,670 229,358
Total cash and cash equivalents377,214 291,518
Securities:
Available for sale1,004,674 501,070
Held to maturity, net allowance for credit losses of $66 at December 31, 2020, (fair value of $41,205 and $29,523 at December 31, 2020, and December 31, 2019, respectively)38,128 28,620
Securities carried at fair value through income11,554 11,513
Total securities1,054,356 541,203
Non-marketable equity securities held in other financial institutions62,586 39,808
Loans held for sale ($136,026 and $36,977 at fair value at December 31, 2020, and December 31, 2019, respectively)191,512 64,837
Loans, net of allowance for credit losses of $86,670 and $37,520 at December 31, 2020, and December 31, 2019, respectively ($17,011 and $17,670 at fair value at December 31, 2020, and December 31, 2019, respectively)5,638,103 4,105,675
Premises and equipment, net81,763 80,457
Mortgage servicing rights13,660 20,697
Cash surrender value of bank-owned life insurance37,553 37,961
Goodwill and other intangible assets, net30,480 31,540
Accrued interest receivable and other assets141,041 110,930
Total assets7,628,268 5,324,626
Liabilities and Stockholders' Equity
Noninterest-bearing deposits1,607,564 1,077,706
Interest-bearing deposits3,478,985 2,360,096
Time deposits664,766 790,810
Total deposits5,751,315 4,228,612
Federal Home Loan Bank ("FHLB") advances and other borrowings984,608 417,190
Subordinated debentures, net157,181 9,671
Accrued expenses and other liabilities88,014 69,891
Total liabilities6,981,118 4,725,364
Commitments and contingencies0 0
Stockholders' equity:
Preferred stock, no par value, 2,000,000 shares authorized0 0
Common stock ($5.00 par value; 50,000,000 shares authorized; 23,506,312 and 23,480,945 shares issued at December 31, 2020 and 2019, respectively)117,532 117,405
Additional paid‑in capital237,341 235,623
Retained earnings266,628 239,901
Accumulated other comprehensive income25,649 6,333
Total stockholders' equity647,150 599,262
Total liabilities and stockholders' equity $ 7,628,268 $ 5,324,626

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in ThousandsDec. 31, 2020Dec. 31, 2019
Statement of Financial Position [Abstract]
Municipal securities $ 66 $ 0
Fair Value41,205
Loans held for sale136,026 36,977
Loans, allowance for credit losses86,670 37,520
Loans at fair value $ 17,011 $ 17,670
Preferred stock, shares authorized (in shares)2,000,000 2,000,000
Common stock, par value (in dollars per share) $ 5 $ 5
Common stock, shares authorized (in shares)50,000,000 50,000,000
Common stock, shares issued (in shares)23,506,312 23,480,945

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands12 Months Ended
Dec. 31, 2020Dec. 31, 2019Dec. 31, 2018
Interest and dividend income
Interest and fees on loans $ 209,114 $ 206,899 $ 169,384
Investment securities-taxable11,302 11,975 9,843
Investment securities-nontaxable5,428 3,327 4,465
Interest and dividend income on assets held in other financial institutions2,858 4,881 4,404
Total interest and dividend income228,702 227,082 188,096
Interest expense
Interest-bearing deposits27,150 44,716 29,671
FHLB advances and other borrowings5,895 8,097 4,420
Subordinated debentures4,121 557 553
Total interest expense37,166 53,370 34,644
Net interest income191,536 173,712 153,452
Provision for credit losses59,900 9,568 1,014
Net interest income after provision for credit losses131,636 164,144 152,438
Noninterest income
Mortgage banking revenue29,603 12,309 9,620
Gain (loss) on sales of securities, net580 20 (8)
(Loss) on sales and disposals of other assets, net(1,213)(333)(170)
Limited partnership investment (loss) income78 (6)823
Swap fee income2,546 2,185 927
Change in fair value of equity investments0 367 1,977
Other fee income2,253 1,490 1,811
Other income5,061 4,410 3,786
Total noninterest income64,652 46,478 41,240
Noninterest expense
Salaries and employee benefits91,105 88,974 80,487
Occupancy and equipment, net17,022 16,759 15,445
Data processing8,321 6,961 6,182
Electronic banking3,686 3,441 2,883
Communications1,767 2,098 2,028
Advertising and marketing3,710 3,808 4,275
Professional services3,975 3,577 3,269
Regulatory assessments3,826 1,694 2,457
Loan related expenses6,316 4,174 3,039
Office and operations5,624 6,674 5,881
Intangible asset amortization1,060 1,321 961
Franchise tax expense2,186 2,160 1,485
Other expenses3,337 2,433 2,844
Total noninterest expense151,935 144,074 131,236
Income before income taxes44,353 66,548 62,442
Income tax expense7,996 12,666 10,837
Net income36,357 53,882 51,605
Preferred stock dividends0 0 1,923
Net income allocated to participating stockholders0 0 1,029
Net income available to common stockholders $ 36,357 $ 53,882 $ 48,653
Basic earnings per common share (in dollars per share) $ 1.56 $ 2.30 $ 2.21
Diluted earnings per common share (in dollars per share) $ 1.55 $ 2.28 $ 2.20
Service charges and fees
Noninterest income
Revenue from contracts with customers $ 12,998 $ 13,859 $ 12,754
Insurance commission and fee income
Noninterest income
Revenue from contracts with customers $ 12,746 $ 12,177 $ 9,720

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands12 Months Ended
Dec. 31, 2020Dec. 31, 2019Dec. 31, 2018
Statement of Comprehensive Income [Abstract]
Net income $ 36,357 $ 53,882 $ 51,605
Securities available for sale and transferred securities:
Net unrealized holding gain (loss) arising during the period25,646 11,439 (5,260)
Net losses realized as a yield adjustment in interest on investment securities(10)(10)(10)
Reclassification adjustment for net (gain) loss included in net income(580)(20)8
Change in the net unrealized gain (loss) on investment securities, before tax25,056 11,409 (5,262)
Income tax benefit related to net unrealized gain (loss) arising during the period5,262 2,396 (1,105)
Change in the net unrealized gain (loss) on investment securities, net of tax19,794 9,013 (4,157)
Cash flow hedges:
Net unrealized (loss) gain arising during the period(739)(216)104
Reclassification adjustment for (loss) gain included in net income(134)37 (7)
Change in the net unrealized (loss) gain on cash flow hedges, before tax(605)(253)111
Income tax expense (benefit) related to net unrealized (loss) gain on cash flow hedges(127)(53)23
Change in the net unrealized (loss) gain on cash flow hedges, net of tax(478)(200)88
Other comprehensive income (loss), net of tax19,316 8,813 (4,069)
Comprehensive income $ 55,673 $ 62,695 $ 47,536

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in ThousandsTotalAdjustmentPreferred Stock Series SBLF[1]Preferred Stock Series DCommon StockPreferred StockPreferred Stock Series SBLFPreferred StockPreferred Stock Series DAdditional Paid-In CapitalRetained EarningsRetained EarningsAdjustmentRetained EarningsPreferred Stock Series SBLF[1]Retained EarningsPreferred Stock Series DAccumulated Other Comprehensive Income (loss)Accumulated Other Comprehensive Income (loss)AdjustmentLess: Retirement Plan-Owned Shares
Common shares outstanding, beginning balance (in shares) at Dec. 31, 201719,518,752
Stockholders' equity, beginning balance at Dec. 31, 2017 $ 420,351 $ 0 $ 97,594 $ 48,260 $ 16,998 $ 146,061 $ 145,122 $ (282) $ 1,307 $ 282 $ (34,991)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income51,605 51,605
Other comprehensive income (loss), net of tax(4,069)(4,069)
Recognition of stock compensation, net (in shares)193,913
Recognition of stock compensation, net1,998 $ 970 1,028
Termination of ESOP put option34,991 34,991
Stock issuance - Common (in shares)3,045,426
Stock issuance - Common94,676 $ 15,227 79,449
Stock issuance - RCF acquisition (in shares)66,824
Stock issuance - RCF acquisition2,706 $ 334 2,372
Redemption of preferred stock - Series SBLF(48,260)(48,260)
Conversion of preferred stock - Series D to common stock (in shares)901,644
Conversion of preferred stock - Series D to common stock0 $ 4,508 (16,998)12,490
Tax benefit of stock issuance costs641 641
Dividends declared - preferred stock $ (1,894) $ (29) $ (1,894) $ (29)
Dividends declared - common stock(2,937)(2,937)
Common shares outstanding, ending balance (in shares) at Dec. 31, 201823,726,559
Stockholders' equity, ending balance at Dec. 31, 2018 $ 549,779 321 $ 118,633 0 0 242,041 191,585 321 (2,480)0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accounting Standards Update [Extensible List]us-gaap:AccountingStandardsUpdate201602Member
Net income $ 53,882 53,882
Other comprehensive income (loss), net of tax8,813 8,813
Recognition of stock compensation, net (in shares)54,386
Recognition of stock compensation, net2,413 $ 272 2,141
Dividends declared - common stock(5,887)(5,887)
Repurchase of common stock (in shares)(300,000)
Repurchase of common stock(10,059) $ (1,500)(8,559)
Common shares outstanding, ending balance (in shares) at Dec. 31, 201923,480,945
Stockholders' equity, ending balance at Dec. 31, 2019 $ 599,262 $ (760) $ 117,405 0 0 235,623 239,901 $ (760)6,333 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accounting Standards Update [Extensible List]us-gaap:AccountingStandardsUpdate201613Member
Net income $ 36,357 36,357
Other comprehensive income (loss), net of tax19,316 19,316
Recognition of stock compensation, net (in shares)56,235
Recognition of stock compensation, net2,568 $ 281 2,287
Dividends declared - common stock $ (8,870)(8,870)
Repurchase of common stock (in shares)(30,868)(30,868)
Repurchase of common stock $ (723) $ (154)(569)
Common shares outstanding, ending balance (in shares) at Dec. 31, 202023,506,312
Stockholders' equity, ending balance at Dec. 31, 2020 $ 647,150 $ 117,532 $ 0 $ 0 $ 237,341 $ 266,628 $ 25,649 $ 0
[1]The dividend rate on the Senior Non-Cumulative Perpetual Preferred stock, Series SBLF ("SBLF preferred stock") was payable quarterly at a fixed annual rate of 9%. The Company redeemed all 48,260 shares of the SBLF preferred stock in June 2018.

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) - $ / shares1 Months Ended6 Months Ended12 Months Ended
Jun. 30, 2018Jun. 30, 2018Dec. 31, 2020Dec. 31, 2019Dec. 31, 2018
Common stock dividends declared (in dollars per share) $ 0.3775 $ 0.25 $ 0.13
Preferred Stock Series SBLF
Fixed annual rate9.00%
Shares redeemed (in shares)48,260

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands12 Months Ended
Dec. 31, 2020Dec. 31, 2019Dec. 31, 2018
Cash flows from operating activities:
Net income $ 36,357 $ 53,882 $ 51,605
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for credit losses59,900 9,568 1,014
Depreciation and amortization6,880 6,706 5,869
Net amortization on securities4,581 975 1,138
Amortization of investments in tax credit funds1,442 1,608 1,899
Net realized (gain) loss on securities sold(580)(20)8
Deferred income tax (benefit) expense(11,884)(2,596)5,637
Stock-based compensation expense2,320 2,247 1,462
Originations of mortgage loans held for sale(659,188)(353,090)(300,093)
Proceeds from mortgage loans held for sale570,349 334,958 309,153
Gain on mortgage loans held for sale, including origination of servicing rights(19,190)(6,943)(6,403)
Mortgage servicing rights valuation adjustment12,746 7,012 963
Net loss on disposals of premises and equipment72 139 75
Increase in the cash surrender value of life insurance(917)(755)(713)
Gain on equity securities without a readily determinable fair value0 (367)(1,977)
Net losses on sales and write downs of other real estate owned1,141 194 95
Other operating activities, net(3,142)8,035 8,094
Net cash provided by operating activities887 61,553 77,826
Cash flows from investing activities:
Cash paid for business combinations, net of cash acquired0 0 (6,596)
Purchases of securities available for sale(700,319)(94,544)(477,548)
Maturities, paydowns and calls of securities available for sale151,932 154,473 279,152
Proceeds from sales of securities available for sale64,702 27,766 20,877
Purchase of securities held to maturity(10,000)(10,000)0
Maturities, paydowns and calls of securities held to maturity415 541 1,018
Paydowns of securities carried at fair value452 434 414
Net sales (purchases) of non-marketable equity securities held in other financial institutions(22,401)3,386 (17,026)
Originations of mortgage warehouse loans(13,665,295)(4,306,171)(4,495,650)
Proceeds from pay-offs of mortgage warehouse loans12,855,955 4,239,381 4,542,822
Net increase in loans, excluding mortgage warehouse and loans held for sale(788,719)(290,278)(601,153)
Purchase of bank-owned life insurance0 (4,500)(4,000)
Return of capital on limited partnership investments818 503 456
Capital calls on limited partnership investments(525)(1,521)(2,838)
Purchases of premises and equipment(7,198)(11,152)(5,482)
Proceeds from sales of premises and equipment0 27 111
Proceeds from sales of other real estate owned4,451 470 516
Net cash used in investing activities(2,115,732)(291,185)(764,927)
Cash flows from financing activities:
Net increase in deposits1,522,703 445,474 271,124
Proceeds from long-term FHLB advances0 100,000 250,000
Repayments on long-term FHLB advances(1,898)(101,649)(51,342)
Proceeds from Federal Reserve Bank Paycheck Protection Program Liquidity Facility ("PPPLF")319,257 0 0
Repayments on PPPLF(319,257)0 0
Proceeds from short-term FHLB advances2,107,000 2,815,000 667,065
Repayments on short-term FHLB advances(1,557,000)(2,815,000)(567,065)
Net increase in other borrowed funds0 0 1,164
Issuance of subordinated debentures, net147,374 0 0
Net (decrease) increase in securities sold under agreements to repurchase(8,309)(23,597)4,135
Dividends paid(8,854)(5,863)(5,941)
Taxes paid related to net share settlement of equity awards0 0 (25)
Cash received from exercise of stock options248 166 559
Proceeds from issuance of common stock, net of offering expenses0 0 95,178
Redemption of Series SBLF preferred stock0 0 (48,260)
Common stock repurchased(723)(10,059)0
Net cash provided by financing activities2,200,541 404,472 616,592
Net increase (decrease) in cash and cash equivalents85,696 174,840 (70,509)
Cash and cash equivalents at beginning of year291,518 116,678 187,187
Cash and cash equivalents at end of year377,214 291,518 116,678
Interest paid36,432 53,227 34,390
Income taxes paid24,974 10,023 675
Significant non-cash transactions:
Unsettled liability for investment purchases recorded at trade date1,514 2,659 0
Real estate acquired in settlement of loans2,446 1,577 1,057
Conversion of Series D preferred stock to common stock0 0 16,998
Fair value of common stock issued in conjunction with business combination $ 0 $ 0 $ 2,706

Significant Accounting Policies

Significant Accounting Policies12 Months Ended
Dec. 31, 2020
Accounting Policies [Abstract]
Significant Accounting PoliciesNote 1 - Significant Accounting Policies Nature of Operations . Origin Bancorp, Inc. ("Company") is a financial holding company headquartered in Ruston, Louisiana. The Company's wholly owned bank subsidiary, Origin Bank ("Bank"), provides a broad range of financial services to businesses, municipalities, high net worth individuals and retail clients. The Company currently operates 44 banking centers located in Dallas/Fort Worth and Houston, Texas, North Louisiana and into Mississippi. The Company principally operates in one business segment, community banking. Basis of Presentation . The consolidated financial statements include the accounts of the Company and all other entities in which Origin Bancorp, Inc. has a controlling financial interest, including the Bank and Davison Insurance Agency, LLC ("Davison Insurance"), doing business as Thomas & Farr Agency, and Reeves, Coon and Funderburg ("RCF"). All significant intercompany balances and transactions have been eliminated in consolidation. The Company's accounting and financial reporting policies conform, in all material respects, to accounting principles generally accepted in the United States ("U.S. GAAP") and to general practices within the financial services industry. The Company has evaluated subsequent events for potential recognition and/or disclosure through the date these consolidated financial statements were issued. Reclassifications . Certain amounts previously reported have been reclassified to conform to the current presentation. Such reclassifications had no effect on prior year net income or stockholders' equity. Variable Interest Entities . The Company determines whether it has a controlling financial interest in an entity by first evaluating whether the entity is a voting interest entity or a variable interest entity ("VIE") under U.S. GAAP. Voting interest entities are entities in which the total equity investment at risk is sufficient to enable the entity to finance itself independently and provides the equity holders with the obligation to absorb losses, the right to receive residual returns and the right to make decisions about the entity's activities. The Company consolidates voting interest entities in which it has all, or at least a majority of, the voting interest. As defined in applicable accounting standards, VIEs are entities that lack one or more of the characteristics of a voting interest entity. A controlling financial interest in a VIE is present when an enterprise has both the power to direct the activities of the VIE that most significantly impact the VIE's economic performance and an obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE. The enterprise with a controlling financial interest, known as the primary beneficiary, consolidates the VIE. The Company's wholly owned subsidiaries CTB Statutory Trust I and First Louisiana Statutory Trust I are VIEs for which the Company is not the primary beneficiary. Accordingly, the accounts of these trusts are not included in the Company's consolidated financial statements. Operating Segments . Operating segments are components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision-maker in deciding how to allocate resources and in assessing performance. The Bank is the only significant subsidiary upon which management makes decisions regarding how to allocate resources and assess performance. Individual bank branches offer a group of similar services, including commercial, real estate and consumer loans, time deposits, checking and savings accounts, all with similar operating and economic characteristics. While the chief operating decision-maker monitors the revenue streams of the various products and services, operations are managed and financial performance is evaluated on a Company-wide basis. Accordingly, all of the community banking services and branch locations are considered by management to be aggregated into one reportable operating segment, community banking. Use of Estimates . The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions based on available information that affect the amounts reported in the financial statements and disclosures provided, including the accompanying notes, and actual results could differ. Material estimates that are particularly susceptible to change include the allowance for credit losses for loans and available for sale securities; fair value measurements of assets and liabilities; and income taxes. Estimates and assumptions are reviewed periodically and the effects of revisions are reflected in the Company's consolidated financial statements in the period they are deemed necessary. While management uses its best judgment, actual results could differ from those estimates. Cash and Cash Equivalents . For purposes of the statement of cash flows, the Company considers all cash on hand, demand deposits with other banks, federal funds sold and short term interest-bearing cash items with an original maturity less than 90 days to be cash equivalents. The Company maintains deposits with other financial institutions in amounts that exceed federal deposit insurance coverage. Furthermore, federal funds sold are essentially uncollateralized loans to other financial institutions. Management regularly evaluates the credit risk associated with the counterparties to these transactions and believes that the Company is not exposed to any significant credit risks on cash and cash equivalents. At December 31, 2020 and 2019 the Company had cash collateral required to be held with counterparties on certain derivative transactions as discussed in Note 12 - Derivative Financial Instruments . At December 31, 2020 and 2019 the Company had no reserve requirement for cash balances with the Federal Reserve. Securities . The Company accounts for debt and equity securities as follows: Available for Sale ("AFS") - Debt securities that will be held for indefinite periods of time, including securities that may be sold in response to changes in market interest or prepayment rates, needs for liquidity and changes in the availability of and the yield of alternative investments are classified as AFS. These assets are carried at fair value. Fair value is determined using published quotes. If quoted market prices are not available, fair values are based on other methods including, but not limited to the discounting of cash flows. Unrealized gains and losses on AFS securities are excluded from earnings and reported net of tax in accumulated other comprehensive income until realized. Please see the paragraphs under Allowance for Credit Losses referenced below in this footnote for information on the allowance for credit losses pertaining to AFS securities. Held to Maturity ("HTM") - Debt securities that management has the positive intent and ability to hold until maturity are classified as HTM and are carried at their remaining unpaid principal balance, net of unamortized premiums or unaccredited discounts. Please see the paragraphs under Allowance for Credit Losses referenced below in this footnote for information pertaining to the allowance for credit losses pertaining to HTM securities. Securities Carried at Fair Value through Income - Debt securities for which the Company has elected the fair value option for accounting are classified as securities carried at fair value through income. Management has elected the fair value option for these items to offset the corresponding change in fair value of related interest rate swap agreements. Fair value is determined using discounted cash flows and credit quality indicators. Changes in fair value are reported through the consolidated statements of income as a part of other noninterest income. Interest income on securities includes amortization of purchase premiums and discounts. Premiums and discounts on securities are generally amortized using the interest method with a constant effective yield without anticipating prepayments, except for mortgage-backed securities where prepayments are anticipated. Premiums on callable securities are amortized to their earliest call date. A security is placed on nonaccrual status if (i) principal or interest has been in default for a period of 90 days or more or (ii) full payment of principal and interest is not expected. Interest accrued but not received for a security placed on nonaccrual status is reversed against interest income. Gains and losses on sales are recorded on the trade date, are derived from the amortized cost of the security sold and are determined using the specific identification method. Prior to the adoption of ASU 2016-13, declines in the fair value of held-to-maturity and available-for-sale securities below their cost that were deemed to be other than temporary were reflected in earnings as realized losses. In estimating other-than-temporary impairment losses prior to January 1, 2020, management considered, among other things, (i) the length of time and the extent to which the fair value had been less than cost, (ii) the financial condition and near-term prospects of the issuer and (iii) the intent and our ability to retain our investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value. Non-marketable Equity Securities Held in Other Financial Institutions . Securities with limited marketability, such as stock in the Federal Reserve Bank of Dallas ("FRB") or the Federal Home Loan Bank of Dallas ("FHLB"), are carried at cost, less impairment, if any. These investments in stock do not have readily determinable fair values. The Company's remaining equity investments in other financial institutions, excluding FRB and FHLB, totaling $12.1 million at December 31, 2020 and 2019, respectively, qualify for the practicability exception under Accounting Standards Update ("ASU") 2016-01 due to having illiquid markets and are carried at cost, less impairment, plus or minus any observable price changes. The carrying value of these securities was evaluated and was determined not to be impaired for the years ended December 31, 2020, 2019 and 2018. Loans Held for Sale . Loans held for sale include mortgage loans and are carried at fair value, with unrealized gains and losses recorded in the consolidated statements of income. Forward commitments to sell mortgage loans are acquired to reduce market risk on mortgage loans in the process of origination and mortgage loans held for sale. The forward commitments acquired by the Company for mortgage loans in process of origination are mandatory forward commitments, and the Company is required to substitute another loan or to buy back the commitment if the original loan does not fund. Typically, the Company delivers the mortgage loans within a few days after the loans are funded. These commitments are derivative instruments carried at fair value. Gains and losses resulting from sales of mortgage loans are realized when the respective loans are sold to investors. Gains and losses are determined by the difference between the selling price (including the fair value of any items such as mortgage servicing rights) and the carrying amount of the loans sold. Fees received from borrowers to guarantee the funding of mortgage loans held for sale are recognized as income or expense when the loans are sold or when it becomes evident that the commitment will not be used. Loans . Loans that management has the intent and ability to hold for the foreseeable future, or until maturity or payoff, are reported at their outstanding unpaid principal balances adjusted for charge-offs, the allowance for credit losses, and any deferred fees or costs on originated loans. Interest income is accrued on the unpaid principal balance. Loan origination fees, and certain direct origination costs, are deferred and amortized as a yield adjustment over the lives of the related loans using the interest method. Late fees are recognized as income when earned, assuming collectability is reasonably assured. The Company has elected the fair value option on a small portion of its LHFI, with changes in fair value recorded in noninterest income. For these loans, the earned current contractual interest payment is recognized in interest income. Loan origination costs and fees are recognized in earnings as incurred and not deferred. Because these loans are recognized at fair value, the Company's allowance for credit losses policy does not apply to these loans. Fair value is determined using discounted cash flows and credit quality indicators. In addition to loans issued in the normal course of business, the Company considers overdrafts on customer deposit accounts to be loans and classifies these overdrafts as loans in its consolidated balance sheets. Loans are placed on nonaccrual status when management believes that the borrower's financial condition, after giving consideration to economic and business conditions and collection efforts, is such that collection of interest is doubtful, or generally when loans are 90 days or more past due. When accrual of interest is discontinued, all unpaid accrued interest is reversed. Past due status is based on contractual terms of the loan. Interest income on nonaccrual loans may be recognized to the extent cash payments are received, but payments received are usually applied to principal. Nonaccrual loans are generally returned to accrual status when principal and interest payments are less than 90 days past due, the customer has made required payments for at least six months, and the Company reasonably expects to collect all principal and interest. Allowance for Credit Losses . The allowance for loan credit losses represents the estimated losses for financial assets accounted for on an amortized cost basis. Expected losses are calculated using relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. The Company evaluates loans held for investment ("LHFI") on a pool basis with pools of loans characterized by loan type, collateral, industry, internal credit risk rating and Fair Isaac Corporation ("FICO") score. The Company applied a probability of default, loss given default loss methodology to the loan pools at January 1 and December 31, 2020. Historical loss rates for each pool are calculated based on charge-off and recovery data beginning with the second quarter of 2012. These loss rates are adjusted for differences between current period conditions, including the ongoing effects of COVID-19 on the U.S. economy, and the conditions existing during the historical loss period. Historical losses are additionally adjusted for the effects of certain economic variables forecast over a one-year period. Subsequent to the forecast effects, historical loss rates are used to estimate losses over the estimated remaining lives of the loans. The estimated remaining lives consist of the contractual lives, adjusted for estimated prepayments. Loans that exhibit characteristics different from their pool characteristics are evaluated on an individual basis. Certain of these loans are considered to be collateral dependent with the borrower experiencing financial difficulty. For these loans, the fair value of collateral practical expedient is elected whereby the allowance is calculated as the amount by which the amortized cost exceeds the fair value of collateral, less costs to sell (if applicable). Those individual loans that are not collateral dependent are evaluated based on a discounted cash flow methodology. This evaluation is inherently subjective as it requires estimates that are susceptible to significant revision as more information becomes available. Loans are charged off against the allowance for credit losses when management believes the loss is confirmed. Subsequent recoveries, if any, are credited to the allowance. Prior to the adoption of ASU 2016-13, the allowance for credit losses on loans was established through a provision for loan losses charged to expense, which represented management’s best estimate of inherent losses that had been incurred within the existing portfolio of loans. The allowance for credit losses on loans included allowance allocations calculated in accordance with ASC Topic 310, “Receivables” and allowance allocations calculated in accordance with ASC Topic 450, “Contingencies.” Delinquency statistics are updated at least monthly and are the most meaningful indicator of the credit quality of one-to-four single family residential, home equity loans and lines of credit and other consumer loans. Internal risk ratings are considered the most meaningful indicator of credit quality for commercial and industrial, construction, and commercial real estate loans. Internal risk ratings are a key factor in identifying loans that are individually evaluated for impairment and impact management's estimates of loss factors used in determining the amount of the allowance for credit losses. Internal risk ratings are updated on a regular basis. Prior to the adoption of ASC 326 on January 1, 2020, loans were reported as impaired when, based on then current information and events, it was probable that the Company would be unable to collect all amounts due in accordance with the original contractual terms of the loan agreement, including scheduled principal and interest payments. Impairment was evaluated in total for smaller-balance loans of a similar nature and on an individual loan basis for other loans. If a loan was impaired, a specific valuation allowance was allocated, if necessary, so that the loan was reported net, at the present value of estimated future cash flows using the loan’s existing rate or at the fair value of collateral if repayment was expected solely from the collateral. Interest payments on impaired loans were typically applied to principal unless collectibility of the principal amount was reasonably assured, in which case interest was recognized on a cash basis. Impaired loans, or portions thereof, were charged off when deemed uncollectible. Troubled debt restructurings ("TDRs") are loans for which the contractual terms on the loan have been modified and both of the following conditions exist: (1) the borrower is experiencing financial difficulty and (2) the restructuring constitutes a concession. Concessions could include a reduction in the interest rate on the loan, payment extensions, forgiveness of principal, forbearance or other actions intended to maximize collection. The Company assesses all loan modifications to determine whether they constitute a TDR. Certain borrowers are currently unable to meet their contractual payment obligations because of the adverse effects of COVID-19. To help mitigate these effects, loan customers may apply for a deferral of payments, or portions thereof, for up to 90 days. The CARES Act and related guidance from the federal banking agencies provide financial institutions the option to temporarily suspend requirements under GAAP related to classification of certain loan modifications as TDRs to account for the current and anticipated effects of COVID-19. The CARES Act, as amended by the Consolidated Appropriations Act, 2021, specified that COVID-19 related loan modifications executed between March 1, 2020 and the earlier of (i) 60 days after the date of termination of the national emergency declared by the President and (ii) January 1, 2022, on loans that were current as of December 31, 2019 are not TDRs. Additionally, under guidance from the federal banking agencies, other short-term modifications made on a good faith in response to COVID-19 to borrowers that were current prior to any relief are not TDRs under ASC Subtopic 310-40, “Troubled Debt Restructuring by Creditors.” These modifications include short-term (e.g., up to six months) modifications such as payment deferrals, fee waivers, extensions of repayment terms, or delays in payment that are insignificant. At December 31, 2020, the Company had 49 loans totaling $97.7 million under COVID-19 related forbearance agreements. The allowance for off-balance sheet exposures was determined using the same methodology that is applied to LHFI. Utilization rates are determined based on historical usage. Credit losses related to available for sale debt securities are recorded through an allowance for credit losses. The amount of the allowance for credit losses is limited to the amount by which fair value is below amortized cost. Discounted cash flow analysis is required for determining credit losses for available for sale securities. In determining whether or not a credit loss exists, such factors as extent of the loss, adverse conditions related to the entity, industry or geographic region, security structure, ratings and changes by a rating agency and past performance are considered. The length of time a security has been in an unrealized loss position is not a factor in determining whether a credit loss exists. The allowance for credit losses for held-to-maturity securities is calculated using a probability of default, loss given default methodology. Credit losses are estimated over the lives of the securities using historical loss rates, adjusted for current conditions and reasonable and supportable forecasts. Third party data is used for the historical loss rates and probability of default statistics. Additionally, the Company uses a weighted average of three possible economic scenarios derived from third party data which is used to calculate the forecast effect. The forecast effect is applied over the estimated lives of the securities. Premises and Equipment, net . Land is carried at cost. Buildings and improvements are stated at cost less accumulated depreciation computed using the straight-line method over the estimated useful lives of the assets, which range from 35 to 39 years. Furniture, fixtures, and equipment are stated at cost less accumulated depreciation computed using the straight-line method over the estimated useful lives of the assets, which range from three Leases. The Company adopted ASU No. 2016-02 — Leases (Topic 842) as of January 1, 2019, and recorded a $19.7 million right-of-use ("ROU") asset offset by a $19.4 million lease liability, recognizing a net after tax $321,000 cumulative effect adjustment credit to retained earnings. The Company elected the package of practical expedients, which among other things, does not require reassessment of lease classification. The Company determines if an arrangement is a lease at inception. Operating lease assets are included in accrued interest receivable and other assets, operating lease liabilities are included in accrued expenses and other liabilities in the Company's consolidated balance sheets. The Company has made an accounting policy election not to recognize short-term lease assets and liabilities (less than a 12-month term) or immaterial equipment and server space leases in its balance sheets; instead, the Company recognizes the lease expense for these leases on a straight-line basis over the life of the lease. The Company has no material finance leases. ROU assets represent the Company's right to use an underlying asset for the lease term and lease liabilities represent the Company's obligation to make lease payments arising from the lease. ROU lease assets and liabilities are recognized at the lease commencement date based on the estimated present value of lease payments over the lease term. The Company uses an estimated incremental collateralized borrowing rate, which is derived from information available at the lease commencement date and gives consideration to the applicable FHLB borrowing rates, when determining the present value of lease payments. The Company's lease terms include options to extend a lease when it is reasonably certain that the Company will exercise that option. The Company's lease agreements do not contain any residual value guarantees. All of the Company's operating long-term leases are real estate leases, which are accounted for as a single lease component. Mortgage Servicing Rights and Transfers of Financial Assets . Gains or losses on "servicing-retained" loan sale transactions generally include a component reflecting the differential between the contractual interest rate of the loan and the interest rate to be received by the investor. The present value of the estimated future profit for servicing the loans is also taken into account in determining the amount of gain or loss on the sale of these loans. For loans sold servicing-retained, the fair value of mortgage servicing rights is recorded as an asset, with their value estimated using a discounted cash flow methodology to arrive at the present value of future expected earnings from the servicing of the loans. Significant model inputs include prepayment speeds, discount rates, and servicing costs. Servicing revenues are based on a contractual percentage of the outstanding principal or a fixed amount per loan and are recorded as income when earned. Loans sold into the secondary market are considered transfers of financial assets. These transfers are accounted for as sales when control over the asset has been surrendered, which is deemed to have occurred when: an asset does not have any claims to it by the transferor or their creditors, including in bankruptcy or other receivership situations; the transferee obtains the unconditional right to pledge or exchange the asset; or the transfer does not include a repurchase provision above the limited recourse provisions of these loan sales. GNMA optional repurchase programs allow financial institutions to buy back individual delinquent mortgage loans that meet certain criteria from the securitized loan pool for which the institution provides servicing. At the servicer's option and without GNMA's prior authorization, the servicer may repurchase a delinquent loan for an amount equal to 100% of the remaining principal balance of the loan. This buy-back option is considered a conditional option until the delinquency criteria are met, at which time the option becomes unconditional. When a financial institution is deemed to have regained effective control over these loans under the unconditional buy-back option, the loans can no longer be reported as sold and must be included in the balance sheet as mortgage loans held for sale, regardless of whether the institution intends to exercise the buy-back option. These loans were recorded as mortgage loans held for sale, at the lower of cost or fair value with a corresponding liability in FHLB advances and other borrowings on the Company's consolidated balance sheets. Derivative Instruments and Hedging Activities . All derivatives are recorded on the accompanying consolidated balance sheets at fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether the Company has elected to designate a derivative in a hedging relationship and apply hedge accounting and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. Derivatives designated and qualifying as a hedge of the exposure to changes in the fair value of an asset, liability, or firm commitment attributable to a particular risk, such as interest rate risk, are considered fair value hedges. Derivatives designated and qualifying as a hedge of the exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. Hedge accounting generally provides for the matching of the timing of gain or loss recognition on the hedging instrument with the recognition of the changes in the fair value of the hedged asset or liability that are attributable to the hedged risk in a fair value hedge or the earnings effect of the hedged forecasted transactions in a cash flow hedge. During the term of a cash flow hedge contract the effective portion of changes in fair value in the derivative instrument are recorded in accumulated other comprehensive income. Changes in the fair value of derivatives to which hedge accounting does not apply are recognized immediately in earnings. Note 12 - Derivative Financial Instruments describes the derivative instruments currently used by the Company and discloses how these derivatives impact its consolidated balance sheets and statements of income. Goodwill and Other Intangible Assets . Goodwill, which represents the excess of cost over the fair value of the net assets of an acquired business, is not amortized but tested for impairment on an annual basis, which is typically October 1 for the Company, or more often if events or circumstances indicate that there may be impairment. Because of the volatile market conditions during which the Company's market value fell below book value, the Company performed a qualitative assessment of whether it was more likely than not that the fair value was less than carrying value during each quarter of 2020 including a goodwill impairment assessment performed by a third party valuation specialist during the second quarter of 2020. Based on these assessments, it was determined that the Company's fair value exceeded carrying value and no goodwill impairment was recorded during 2020. Other intangible assets, such as relationship based intangibles and core deposit intangibles, are amortized on a basis consistent with the receipt of economic benefit to us. Such assets are evaluated at least annually as to the recoverability of their carrying value for potential impairment. In the quarter following the period in which identified intangible assets become fully amortized, the fully amortized balances are removed from the gross asset and accumulated amortization amounts. Other Real Estate Owned . Other real estate owned ("OREO") represents properties acquired through foreclosure or acceptance of a deed in lieu of foreclosure on loans on which the borrowers have defaulted as to payment of principal and interest. OREO also includes bank-owned real estate which the Company is no longer utilizing and intends to sell. These properties are initially recorded at fair value, less cost to sell, at the date of foreclosure establishing a new cost basis. Fair value is determined based on third party appraisals. Any subsequent capital improvements that increase value are added to the balance of the properties. Any valuation adjustments required at the date of transfer from loans to OREO are charged to the allowance for credit losses. Any subsequent write-downs to reflect current fair value, or gains and losses on the sale of the properties are charged to noninterest income. At December 31, 2020 and 2019, the balance of OREO was $1.6 million and $4.7 million, respectively, and included as a component of other assets in the accompanying consolidated balance sheets. Overnight Repurchase Agreements with Depositors . The Company enters into agreements under which it sells securities subject to an obligation to repurchase the same or similar securities. Under these arrangements, the Company may transfer legal control over the assets but still retain effective control through an agreement that both entitles and obligates it to repurchase the assets. Securities sold under agreements to repurchase generally mature on the banking day following that on which the investment was initially sold and are treated as collateralized financing transactions which are recorded at the amounts at which the securities were sold plus accrued interest. Interest rates and maturity dates of the securities involved vary and are not intended to be matched with funds from customers. Revenue Recognition . In general, for revenue not associated with financial instruments, guarantees and lease contracts, the Company applies the following steps when recognizing revenue from contracts with customers: (i) identify the contract, (ii) identify the performance obligations, (iii) determine the transaction price, (iv) allocate the transaction price to the performance obligations and (v) recognize revenue when a performance obligation is satisfied. Our contracts with customers are generally short term in nature, typically due within one year or less or cancellable by us or our customer upon a short notice period. Performance obligations for our customer contracts are generally satisfied at a single point in time, typically when the transaction is complete, or over time. Descripti

Earnings Per Share

Earnings Per Share12 Months Ended
Dec. 31, 2020
Earnings Per Share [Abstract]
Earnings Per ShareNote 2 - Earnings Per Share (Dollars in thousands, except per share amounts) Years Ended December 31, Basic earnings per common share 2020 2019 2018 Net income $ 36,357 $ 53,882 $ 51,605 Less: Dividends to preferred stock (1) — — 1,923 Net income allocated to participating stockholders (1) (2) — — 1,029 Net income available to common stockholders (3) $ 36,357 $ 53,882 $ 48,653 Weighted average common shares outstanding 23,367,221 23,470,746 21,995,990 Basic earnings per common share (4) $ 1.56 $ 2.30 $ 2.21 Diluted earnings per common share Diluted earnings applicable to common stockholders (3) $ 36,357 $ 53,882 $ 48,819 Weighted average diluted common shares outstanding: Weighted average common shares outstanding 23,367,221 23,470,746 21,995,990 Dilutive effect of common stock options 144,731 203,319 198,439 Weighted average diluted common shares outstanding 23,511,952 23,674,065 22,194,429 Diluted earnings per common share $ 1.55 $ 2.28 $ 2.20 ____________________________ (1) Participating stockholders include those that hold certain share-based payment awards that contain nonforfeitable rights to dividends or dividend equivalents. Such shares or units are considered participating securities (i.e., nonvested restricted stock grants). Additionally, for period prior to June 30, 2018, Series D preferred stockholders were participating stockholders as those shares participate in dividends with common shares on a one for one basis. Net income allocated to participating stockholders does not include dividends paid to preferred stockholders. (2) The average participating share count for the calculation of earnings per share for the year ended December 31, 2018, includes an allocation for Series D preferred stockholders, which were converted to common stock during the quarter ended June 30, 2018. (3) Net income available to common stockholders for basic and diluted earnings per share may differ under the two-class method as a result of adding common stock equivalents for options to dilutive shares outstanding, which alters the ratio used to allocate earnings to common stockholders and participating securities for the purposes of calculating diluted earnings per share. (4) Due to the combined impact of the repurchase of common stock on the quarterly average common shares outstanding calculation compared to the impact of the repurchase of common stock on the year-to-date average common shares outstanding calculation, and the effect of rounding, the sum of the quarterly earnings per common share may not equal the year-to-date earnings per common share amount.

Securities

Securities12 Months Ended
Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]
SecuritiesNote 3 - Securities The following table is a summary of the amortized cost and estimated fair value, including gross unrealized gains and losses, of available for sale, held to maturity and securities carried at fair value through income for the dates indicated: (Dollars in thousands) December 31, 2020 Amortized Gross Gross Fair Allowance for Credit Losses Net Carrying Amount Available for sale: State and municipal securities $ 420,559 $ 21,884 $ (258) $ 442,185 $ — $ 442,185 Corporate bonds 64,313 1,762 (137) 65,938 — 65,938 U.S. government and agency securities 851 3 (5) 849 — 849 Commercial mortgage-backed securities 10,814 266 — 11,080 — 11,080 Residential mortgage-backed securities 207,742 7,441 (232) 214,951 — 214,951 Residential collateralized mortgage obligations 193,865 1,739 (261) 195,343 — 195,343 Asset-backed securities 73,451 877 — 74,328 — 74,328 Total $ 971,595 $ 33,972 $ (893) $ 1,004,674 $ — $ 1,004,674 Held to maturity: State and municipal securities $ 38,194 $ 3,011 $ — $ 41,205 $ (66) $ 38,128 Securities carried at fair value through income: State and municipal securities (1) $ 10,618 $ — $ — $ 11,554 $ — $ 11,554 December 31, 2019 Available for sale: State and municipal securities $ 96,180 $ 3,039 $ (35) $ 99,184 $ — $ 99,184 Corporate bonds 16,037 780 — 16,817 — 16,817 U.S. government and agency securities 5,063 183 (8) 5,238 — 5,238 Commercial mortgage-backed securities 11,882 262 — 12,144 — 12,144 Residential mortgage-backed securities 204,650 3,105 (249) 207,506 — 207,506 Commercial collateralized mortgage obligations 4,321 73 — 4,394 — 4,394 Residential collateralized mortgage obligations 154,925 1,186 (324) 155,787 — 155,787 Total $ 493,058 $ 8,628 $ (616) $ 501,070 $ — $ 501,070 Held to maturity: State and municipal securities $ 28,620 $ 903 $ — $ 29,523 $ — $ 28,620 Securities carried at fair value through income: State and municipal securities (1) $ 11,070 $ — $ — $ 11,513 $ — $ 11,513 ____________________________ (1) Securities carried at fair value through income have no unrealized gains or losses at the balance sheet date as all changes in value have been recognized in the consolidated statements of income. See Note 5 - Fair Value of Financial Instruments for more information. Securities with unrealized losses at December 31, 2020 and 2019, aggregated by investment category and those individual securities that have been in a continuous unrealized loss position for less than 12 months, and for 12 months or more, were as follows. (Dollars in thousands) Less than 12 Months 12 Months or More Total December 31, 2020 Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss Available for sale: State and municipal securities $ 21,979 $ (258) $ — $ — $ 21,979 $ (258) Corporate bonds 30,513 (137) — — 30,513 (137) U.S. government and agency securities — — 568 (5) 568 (5) Residential mortgage-backed securities 23,178 (232) — — 23,178 (232) Residential collateralized mortgage obligations 43,911 (261) — — 43,911 (261) Total $ 119,581 $ (888) $ 568 $ (5) $ 120,149 $ (893) Held to maturity: State and municipal securities $ — $ — $ — $ — $ — $ — December 31, 2019 Available for sale: State and municipal securities $ 6,996 $ (35) $ — $ — $ 6,996 $ (35) Corporate bonds — — — — — — U.S. government and agency securities — — 663 (8) 663 (8) Residential mortgage-backed securities 29,184 (151) 14,917 (98) 44,101 (249) Residential collateralized mortgage obligations 20,266 (118) 24,275 (206) 44,541 (324) Total $ 56,446 $ (304) $ 39,855 $ (312) $ 96,301 $ (616) Held to maturity: State and municipal securities $ — $ — $ — $ — $ — $ — Management evaluates available for sale debt securities in unrealized loss positions to determine whether the impairment is due to credit-related factors or noncredit-related factors. Consideration is given to (1) the extent to which the fair value is less than cost, (2) the financial condition and near-term prospects of the issuer, and (3) the intent and ability of the Company to retain its investment in the security for a period of time sufficient to allow for any anticipated recovery in fair value. At December 31, 2020, the Company had 44 available for sale debt securities in an unrealized loss position without an allowance for credit losses. Management does not have the intent to sell any of these securities and believes that it is more likely than not that the Company will not have to sell any such securities before a recovery of cost. The fair value is expected to recover as the securities approach their maturity date or repricing date or if market yields for such investments decline. Accordingly, at December 31, 2020, management believes that the unrealized losses detailed in the previous table are due to noncredit-related factors, including changes in interest rates and other market conditions, and therefore no losses have been recognized in the Company’s consolidated statements of income. The following table presents the activity in the allowance for credit losses for held-to-maturity debt securities. (Dollars in thousands) Municipal Securities Allowance for credit losses: Year Ended December 31,2020 Balance at January 1, 2020 $ — Impact of adopting ASC 326 96 Credit loss benefit (30) Balance at December 31, 2020 $ 66 Accrued interest of $5.4 million was not included in the calculation of the allowance at December 31, 2020. There were no past due held-to-maturity securities at December 31, 2020. No held-to-maturity securities were in nonaccrual status at December 31, 2020, or placed into nonaccrual status during the year ended December 31, 2020. Proceeds from sales of securities available for sale and gross gains for the years ended December 31, 2020, 2019 and 2018. December 31, (Dollars in thousands) 2020 2019 2018 Proceeds from sales $ 64,702 $ 27,766 $ 20,877 Gross realized gains 774 161 381 Gross realized losses (194) (141) (389) The following table presents the amortized cost and fair value of securities available for sale and held to maturity at December 31, 2020, grouped by contractual maturity. Mortgage-backed securities and collateralized mortgage obligations, which do not have contractual payments due at a single maturity date, are shown separately. Actual maturities for mortgage-backed securities, collateralized mortgage obligations and asset-backed securities will differ from contractual maturities as a result of prepayments made on the underlying mortgages. (Dollars in thousands) Held to Maturity Available for Sale December 31, 2020 Amortized Cost Fair Value Amortized Cost Fair Value Due in one year or less $ 12,999 $ 13,068 $ 3,210 $ 3,237 Due after one year through five years — — 47,500 51,572 Due after five years through ten years 25,195 28,137 111,383 115,206 Due after ten years — — 323,630 338,957 Commercial mortgage-backed securities — — 10,814 11,080 Residential mortgage-backed securities — — 207,742 214,951 Residential collateralized mortgage obligations — — 193,865 195,343 Asset-backed securities — — 73,451 74,328 Total $ 38,194 $ 41,205 $ 971,595 $ 1,004,674 The following table presents carrying amounts of securities pledged as collateral for deposits and repurchase agreements for the period ends presented. December 31, (Dollars in thousands) 2020 2019 Carrying value of securities pledged to secure public deposits $ 289,537 $ 285,552 Carrying value of securities pledged to repurchase agreements 10,982 20,356

Loans

Loans12 Months Ended
Dec. 31, 2020
Receivables [Abstract]
LoansNote 4 - Loans Loans consist of the following: December 31, (Dollars in thousands) 2020 2019 Loans held for sale $ 191,512 $ 64,837 LHFI: Loans secured by real estate: Commercial real estate $ 1,370,928 $ 1,279,177 Construction/land/land development 531,860 517,688 Residential real estate 885,120 689,555 Total real estate 2,787,908 2,486,420 Commercial and industrial (1) 1,817,862 1,343,475 Mortgage warehouse lines of credit 1,084,001 274,659 Consumer 17,991 20,971 Total loans accounted for at amortized cost 5,707,762 4,125,525 Loans accounted for at fair value 17,011 17,670 Total LHFI (2) 5,724,773 4,143,195 Less: Allowance for loan losses 86,670 37,520 LHFI, net $ 5,638,103 $ 4,105,675 ____________________________ (1) Includes $546.5 million of PPP loans at December 31, 2020. No PPP loans were outstanding at December 31, 2019. (2) Includes net deferred loan fees of $13.7 million and $3.6 million at December 31, 2020, and December 31, 2019, respectively. Origination of PPP loans contributed $9.6 million of the increase in net deferred loan fees during the year. Included in total LHFI were $17.0 million and $17.7 million of commercial real estate loans for which the fair value option was elected at December 31, 2020 and 2019, respectively. The Company mitigates the interest rate component of fair value risk on loans at fair value by entering into derivative interest rate contracts. See Note 5 - Fair Value of Financial Instruments for more information on loans for which the fair value option has been elected. The Company has been a participating lender in the PPP. At December 31, 2020, there were approximately $546.5 million in PPP loans outstanding included in the Company’s commercial and industrial loan portfolio, net of $9.6 million in net deferred loan fees. PPP loans have a maximum maturity of two years and earn interest at 1%. PPP loans are fully guaranteed by the U.S. government and can be forgiven by the SBA if the borrower uses the proceeds to pay specified expenses. The Company believes that the majority of our PPP loans will ultimately be forgiven by the SBA in accordance with the terms of the program. Credit quality indicators. As part of the Company's commitment to manage the credit quality of its loan portfolio, management annually updates and evaluates certain credit quality indicators, which include but are not limited to (i) weighted-average risk rating of the loan portfolio, (ii) net charge-offs, (iii) level of non-performing loans, (iv) level of classified loans (defined as substandard, doubtful and loss), and (v) the general economic conditions in the states in which the Company operates. The Company maintains an internal risk rating system where ratings are assigned to individual loans based on assessed risk. Loan risk ratings are the primary indicator of credit quality for the loan portfolio and are continually evaluated to ensure they are appropriate based on currently available information. The following is a summary description of the Company's internal risk ratings: • Pass (1-6) Loans within this risk rating are further categorized as follows: Minimal risk (1) Well-collateralized by cash equivalent instruments held by the Bank. Moderate risk (2) Borrowers with excellent asset quality and liquidity. Borrowers' capitalization and liquidity exceed industry norms. Borrowers in this category have significant levels of liquid assets and have a low level of leverage. Better than average risk (3) Borrowers with strong financial strength and excellent liquidity that consistently demonstrate strong operating performance. Borrowers in this category generally have a sizable net worth that can be converted into liquid assets within 12 months. Average risk (4) Borrowers with sound credit quality and financial performance, including liquidity. Borrowers are supported by sufficient cash flow coverage generated through operations across the full business cycle. Marginally acceptable risk (5) Loans generally meet minimum requirements for an acceptable loan in accordance with lending policy, but possess one or more attributes that cause the overall risk profile to be higher than the majority of newly approved loans. Watch (6) A passing loan with one or more factors that identify a potential weakness in the overall ability of the borrower to repay the loan. These weaknesses are generally mitigated by other factors that reduce the risk of delinquency or loss. • Special Mention (7) This grade is intended to be temporary and includes borrowers whose credit quality have deteriorated and is at risk of further decline. • Substandard (8) This grade includes "Substandard" loans under regulatory guidelines. Substandard loans exhibit a well-defined weakness that jeopardizes debt repayment in accordance with contractual agreements, even though the loan may be performing. These obligations are characterized by the distinct possibility that a loss may be incurred if these weaknesses are not corrected and repayment may be dependent upon collateral liquidation or secondary source of repayment. • Doubtful (9) This grade includes "Doubtful" loans under regulatory guidelines. Such loans are placed on nonaccrual status and repayment may be dependent upon collateral with no readily determinable valuation or valuations that are highly subjective in nature. Repayment for these loans is considered improbable based on currently existing facts and circumstances. • Loss (0) This grade includes "Loss" loans under regulatory guidelines. Loss loans are charged-off or written down when repayment is not expected. In connection with the review of the loan portfolio, the Company considers risk elements attributable to particular loan types or categories in assessing the quality of individual loans. The list of loans to be reviewed for possible individual evaluation consists of nonaccrual commercial loans over $100,000 with direct exposure, unsecured loans over 90 days past due, commercial loans classified substandard or worse over $100,000 with direct exposure, TDRs, consumer loans greater than $100,000 with a FICO score under 625, loans greater than $100,000 in which the borrower has filed bankruptcy, and all loans 180 days or more past due. Loans under $50,000 will be evaluated collectively in designated pools unless a loss exposure has been identified. Some additional risk elements considered by loan type include: • for commercial real estate loans, the debt service coverage ratio, operating results of the owner in the case of owner occupied properties, the loan to value ratio, the age and condition of the collateral and the volatility of income, property value and future operating results typical of properties of that type; • for construction, land and land development loans, the perceived feasibility of the project, including the ability to sell developed lots or improvements constructed for resale or the ability to lease property constructed for lease, the quality and nature of contracts for presale or prelease, if any, experience and ability of the developer and loan to value ratio; • for residential mortgage loans, the borrower's ability to repay the loan, including a consideration of the debt to income ratio and employment and income stability, the loan-to-value ratio, and the age, condition and marketability of the collateral; and • for commercial and industrial loans, the debt service coverage ratio (income from the business in excess of operating expenses compared to loan repayment requirements), the operating results of the commercial, industrial or professional enterprise, the borrower's business, professional and financial ability and expertise, the specific risks and volatility of income and operating results typical for businesses in that category and the value, nature and marketability of collateral. The following table reflects recorded investments in loans by credit quality indicator and origination year at December 31, 2020, excluding loans held for sale and loans accounted for at fair value. The Company had an immaterial amount of revolving loans converted to term loans at December 31, 2020. Term Loans Amortized Cost Basis by Origination Year (Dollars in thousands) 2020 2019 2018 2017 2016 Prior Revolving Loans Amortized Cost Basis Total Commercial real estate: (1) Pass $ 393,317 $ 290,394 $ 312,051 $ 154,445 $ 46,132 $ 106,994 $ 18,419 $ 1,321,752 Special mention 824 113 2,410 20,691 — 1,656 2,145 27,839 Classified 2,806 1,678 6,704 6,586 1,476 1,093 994 21,337 Total commercial real estate loans $ 396,947 $ 292,185 $ 321,165 $ 181,722 $ 47,608 $ 109,743 $ 21,558 $ 1,370,928 Current period gross charge-offs $ — $ — $ — $ 3,622 $ 199 $ 1,103 $ — $ 4,924 Current period gross recoveries — — — — — 19 — 19 Current period net charge-offs $ — $ — $ — $ 3,622 $ 199 $ 1,084 $ — $ 4,905 (1) Excludes $17.0 million of commercial real estate loans at fair value, which are not included in the loss estimation methodology due to the fair value option election. Construction/land/land development: Pass $ 189,311 $ 150,281 $ 138,000 $ 12,907 $ 1,812 $ 1,157 $ 18,892 $ 512,360 Special mention 323 10,421 135 1,003 — — — 11,882 Classified — 1,811 726 1,507 143 168 3,263 7,618 Total construction/land/land development loans $ 189,634 $ 162,513 $ 138,861 $ 15,417 $ 1,955 $ 1,325 $ 22,155 $ 531,860 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — Current period gross recoveries — — — — — 1 — 1 Current period net charge-offs (recoveries) $ — $ — $ — $ — $ — $ (1) $ — $ (1) Residential real estate: Pass $ 367,652 $ 143,368 $ 103,450 $ 102,272 $ 41,522 $ 50,094 $ 53,854 $ 862,212 Special mention 188 — 29 1,875 9,287 803 — 12,182 Classified 1,857 2,403 2,982 511 1,344 1,533 96 10,726 Total residential real estate loans $ 369,697 $ 145,771 $ 106,461 $ 104,658 $ 52,153 $ 52,430 $ 53,950 $ 885,120 Current period gross charge-offs $ 94 $ 271 $ — $ 283 $ — $ 44 $ — $ 692 Current period gross recoveries — — — — — 202 — 202 Current period net charge-offs (recoveries) $ 94 $ 271 $ — $ 283 $ — $ (158) $ — $ 490 Term Loans Amortized Cost Basis by Origination Year (Dollars in thousands) 2020 2019 2018 2017 2016 Prior Revolving Loans Amortized Cost Basis Total Commercial and industrial: Pass $ 851,780 $ 153,722 $ 110,092 $ 29,413 $ 9,927 $ 26,964 $ 511,220 $ 1,693,118 Special mention 4,860 2,059 26,438 423 — 14,843 8,077 56,700 Classified 5,436 12,250 5,859 5,450 5,950 6,707 26,392 68,044 Total commercial and industrial loans $ 862,076 $ 168,031 $ 142,389 $ 35,286 $ 15,877 $ 48,514 $ 545,689 $ 1,817,862 Current period gross charge-offs $ 189 $ 204 $ 87 $ 121 $ 3,228 $ 469 $ 2,404 $ 6,702 Current period gross recoveries — 42 20 81 185 112 582 1,022 Current period net charge-offs $ 189 $ 162 $ 67 $ 40 $ 3,043 $ 357 $ 1,822 $ 5,680 Mortgage Warehouse Lines of Credit: Pass $ — $ — $ — $ — $ — $ — $ 1,084,001 $ 1,084,001 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — Current period gross recoveries — — — — — — — — Current period net charge-offs $ — $ — $ — $ — $ — $ — $ — $ — Consumer: Pass $ 6,702 $ 3,318 $ 1,578 $ 203 $ 116 $ 83 $ 5,935 $ 17,935 Classified 28 8 — — 6 1 13 56 Total consumer loans $ 6,730 $ 3,326 $ 1,578 $ 203 $ 122 $ 84 $ 5,948 $ 17,991 Current period gross charge-offs $ — $ 39 $ 23 $ 8 $ — $ 4 $ 2 $ 76 Current period gross recoveries — — 1 7 5 7 4 24 Current period net charge-offs (recoveries) $ — $ 39 $ 22 $ 1 $ (5) $ (3) $ (2) $ 52 The recorded investment in loans by credit quality indicator at December 31, 2019, excluding loans held for sale, were as follows: December 31, 2019 (Dollars in thousands) Pass Special Mention Substandard Doubtful Loss Total Loans secured by real estate: Commercial real estate $ 1,269,493 $ 12,479 $ 14,875 $ — $ — $ 1,296,847 Construction/land/land development 512,901 149 4,638 — — 517,688 Residential real estate 680,046 1,558 7,951 — — 689,555 Total real estate 2,462,440 14,186 27,464 — — 2,504,090 Commercial and industrial 1,277,564 28,478 37,433 — — 1,343,475 Mortgage warehouse lines of credit 274,659 — — — — 274,659 Consumer 20,808 — 163 — — 20,971 Total LHFI $ 4,035,471 $ 42,664 $ 65,060 $ — $ — $ 4,143,195 The following tables present the Company's loan portfolio aging analysis at the dates indicated: December 31, 2020 (Dollars in thousands) 30-59 Days Past Due 60-89 Days Past Due Loans Past Due 90 Days or More Total Past Due Current Loans Total Loans Receivable Accruing Loans 90 or More Days Past Due Loans secured by real estate: Commercial real estate (1) $ 1,072 $ — $ 3,172 $ 4,244 $ 1,383,695 $ 1,387,939 $ — Construction/land/land development 369 1 2,328 2,698 529,162 531,860 — Residential real estate 3,774 134 364 4,272 880,848 885,120 — Total real estate 5,215 135 5,864 11,214 2,793,705 2,804,919 — Commercial and industrial 703 1,097 12,625 14,425 1,803,437 1,817,862 — Mortgage warehouse lines of credit — — — — 1,084,001 1,084,001 — Consumer 113 9 2 124 17,867 17,991 — Total LHFI $ 6,031 $ 1,241 $ 18,491 $ 25,763 $ 5,699,010 $ 5,724,773 $ — ____________________________ (1) Includes $17.0 million of commercial real estate loans at fair value December 31, 2019 (Dollars in thousands) 30-59 Days Past Due 60-89 Days Past Due Loans Past Due 90 Days or More Total Past Due Current Loans Total Loans Receivable Accruing Loans 90 or More Days Past Due Loans secured by real estate: Commercial real estate $ 917 $ — $ 5,891 $ 6,808 $ 1,290,039 $ 1,296,847 $ — Construction/land/land development 3,569 133 56 3,758 513,930 517,688 — Residential real estate 2,174 1,918 913 5,005 684,550 689,555 — Total real estate 6,660 2,051 6,860 15,571 2,488,519 2,504,090 — Commercial and industrial 1,588 1,037 11,545 14,170 1,329,305 1,343,475 — Mortgage warehouse lines of credit — — — — 274,659 274,659 — Consumer 164 35 40 239 20,732 20,971 — Total LHFI $ 8,412 $ 3,123 $ 18,445 $ 29,980 $ 4,113,215 $ 4,143,195 $ — ____________________________ (1) Includes $17.7 million of commercial real estate loans at fair value The following tables detail activity in the allowance for loan credit losses by portfolio segment. Accrued interest of $20.3 million was not included in the book value for the purposes of calculating the allowance at December 31, 2020. Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other categories. Year Ended December 31, 2020 (Dollars in thousands) Beginning Balance Impact of Adopting ASC 326 Charge-offs Recoveries Provision (1) Ending Balance Loans secured by real estate: Commercial real estate $ 10,013 $ (5,052) $ 4,924 $ 19 $ 15,374 $ 15,430 Construction/land/land development 3,711 1,141 — 1 3,338 8,191 Residential real estate 6,332 (2,526) 692 202 6,102 9,418 Commercial and industrial 16,960 7,296 6,702 1,022 33,281 51,857 Mortgage warehouse lines of credit 262 29 — — 565 856 Consumer 242 360 76 24 368 918 Total $ 37,520 $ 1,248 $ 12,394 $ 1,268 $ 59,028 $ 86,670 ____________________________ (1) The $59.9 million provision for credit losses on the consolidated statements of income includes a $59.0 million net loan loss provision, a $902,000 provision for off-balance sheet commitments and a $30,000 release of provision for held to maturity credit loss for the year ended December 31, 2020. Year Ended December 31, 2019 (Dollars in thousands) Beginning Balance Charge-offs Recoveries Provision (Benefit) (1) Ending Balance Loans secured by real estate: Commercial real estate $ 8,999 $ 1,420 $ 341 $ 2,093 $ 10,013 Construction/land/land development 3,331 38 40 378 3,711 Residential real estate 5,705 265 185 707 6,332 Commercial and industrial 15,616 8,231 3,627 5,948 16,960 Mortgage warehouse lines of credit 316 29 — (25) 262 Consumer 236 148 48 106 242 Total $ 34,203 $ 10,131 $ 4,241 $ 9,207 $ 37,520 ____________________________ (1) The $9.6 million provision for credit losses on the consolidated statements of income includes a $9.2 million net loan loss provision and a $361,000 provision for off-balance sheet commitments for the year ended December 31, 2019. Year Ended December 31, 2018 (Dollars in thousands) Beginning Balance Charge-offs Recoveries Provision (Benefit) (1) Ending Balance Loans secured by real estate: Commercial real estate $ 8,998 $ 1,300 $ 226 $ 1,075 $ 8,999 Construction/land/land development 2,950 228 6 603 3,331 Residential real estate 5,807 407 133 172 5,705 Commercial and industrial 18,831 5,068 2,206 (353) 15,616 Mortgage warehouse lines of credit 214 — — 102 316 Consumer 283 121 92 (18) 236 Total $ 37,083 $ 7,124 $ 2,663 $ 1,581 $ 34,203 ____________________________ (1) The $1.0 million provision for credit losses on the consolidated statements of income includes a $1.6 million loan loss provision and a $567,000 release of provision for off-balance sheet commitments for the year ended December 31, 2018. The provision for loan credit losses for the year ended December 31, 2020, was driven by the continuing uncertainty related to the ongoing economic impact and duration of the current COVID-19 pandemic. Based upon the requirements of CECL, economic forecasts are essential for estimating the life of loan losses. The increased risk, as reflected in current and forecast adjustments, resulted in approximately $39.8 million in provision expense in total collective reserves, of which $27.5 million was related to qualitative factor changes, across the Company’s risk pools for the year ended December 31, 2020. An additional $8.1 million in provision expense was due to the current and forecast effects of individually evaluated loans. There were four significant loan charge-offs during year ended December 31, 2020, totaling $6.6 million reflecting two loan relationships. The following table shows the recorded investment in loans by loss estimation methodology at December 31, 2020. December 31, 2020 Collectively Evaluated Individually Evaluated (Dollars in thousands) Probability of Default Fair Value of Collateral Discounted Cash Flow Total Loans secured by real estate: Commercial real estate (1) $ 1,365,284 $ 3,173 $ 2,471 $ 1,370,928 Construction/land/land development 528,894 2,621 345 531,860 Residential real estate 879,015 2,009 4,096 885,120 Commercial and industrial 1,804,049 3,152 10,661 1,817,862 Mortgage warehouse lines of credit 1,084,001 — — 1,084,001 Consumer 17,991 — — 17,991 Total $ 5,679,234 $ 10,955 $ 17,573 $ 5,707,762 ____________________________ (1) Excludes $17.0 million of commercial real estate loans at fair value, which are not included in the loss estimation methodology due to the fair value option election. The following table shows the allowance for loan credit losses by loss estimation methodology at December 31, 2020. December 31, 2020 Collectively Evaluated Individually Evaluated (Dollars in thousands) Probability of Default Fair Value of Collateral Discounted Cash Flow Total Loans secured by real estate: Commercial real estate $ 14,896 $ 525 $ 9 $ 15,430 Construction/land/land development 8,062 128 1 8,191 Residential real estate 8,983 — 435 9,418 Commercial and industrial 44,714 1,707 5,436 51,857 Mortgage warehouse lines of credit 856 — — 856 Consumer 918 — — 918 Total $ 78,429 $ 2,360 $ 5,881 $ 86,670 The following tables present the balance of loans receivable by method of impairment evaluation at the dates indicated: December 31, 2019 (Dollars in thousands) Loans secured by real estate: Period End Allowance Allocated to Loans Individually Evaluated for Impairment Period End Allowance Allocated to Loans Collectively Evaluated for Impairment Period End Loan Balance Individually Evaluated for Impairment Period End Loan Balance Collectively Evaluated for Impairment (1) Commercial real estate $ 3 $ 10,010 $ 7,446 $ 1,271,731 Construction/land/land development 3 3,708 4,329 513,359 Residential real estate 21 6,311 4,937 684,618 Commercial and industrial 168 16,792 15,662 1,327,813 Mortgage warehouse lines of credit — 262 — 274,659 Consumer 4 238 100 20,871 Total $ 199 $ 37,321 $ 32,474 $ 4,093,051 ____________________________ (1) Excludes $17.7 million of commercial real estate loans at fair value, which are not evaluated for impairment due to the fair value option election. See Note 5 - Fair Value of Financial Instruments for more information. The following table presents impaired loans at the dates indicated. No mortgage warehouse lines of credit were impaired at December 31, 2019. December 31, 2019 (Dollars in thousands) Loans secured by real estate: Unpaid Contractual Principal Balance Recorded Investment with no Allowance Recorded Investment with an Allowance Total Recorded Investment Allocation of Allowance for Loan Losses Commercial real estate $ 10,788 $ 7,375 $ 71 $ 7,446 $ 3 Construction/land/land development 4,692 4,256 73 4,329 3 Residential real estate 5,846 4,407 530 4,937 21 Total real estate 21,326 16,038 674 16,712 27 Commercial and industrial 22,857 14,385 1,277 15,662 168 Consumer 110 — 100 100 4 Total impaired loans $ 44,293 $ 30,423 $ 2,051 $ 32,474 $ 199 Note that the Company is not using the collateral maintenance agreement practical expedient. All fair value of collateral is real estate related. Collateral-dependent loans consist primarily of commercial real estate and commercial and industrial loans. These loans are individually evaluated when foreclosure is probable or when the repayment of the loan is expected to be provided substantially through the operation or sale of the underlying collateral. Loan balances are charged down to the underlying collateral value when they are deemed uncollectible. Nonaccrual LHFI were as follows: December 31, 2020 2019 (Dollars in thousands) Nonaccrual With No Allowance for Credit Loss Nonaccrual Nonaccrual Loans secured by real estate: Commercial real estate $ 1,053 $ 3,704 $ 6,994 Construction/land/land development 1,319 2,962 4,337 Residential real estate 2,436 6,530 5,132 Total real estate 4,808 13,196 16,463 Commercial and industrial 82 12,897 14,520 Consumer — 56 163 Total nonaccrual loans $ 4,890 $ 26,149 $ 31,146 All interest accrued but not received for loans placed on nonaccrual status is reversed against interest income. Subsequent receipts on nonaccrual loans are recorded as a reduction of principal, and interest income is recorded only after principal recovery is reasonably assured. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured. At December 31, 2020, the Company had no funding commitments the terms of which have been modified in TDRs. For the years ended December 31, 2020, 2019 and 2018, gross interest income that would have been recorded had the nonaccruing loans been current in accordance with their original terms was $1.5 million, $1.5 million and $1.4 million, respectively. No interest income was recorded on these loans while they were considered nonaccrual during the years ended December 31, 2020, 2019 or 2018. The Company elects the fair value option for recording residential mortgage loans held for sale, as well as certain commercial real estate in accordance with U.S. GAAP. The Company had $681,000 of nonaccrual mortgage loans held for sale that were recorded using the fair value option election at December 31, 2020, compared to $927,000 at December 31, 2019. There were no nonaccrual LHFI that were recorded using the fair value option election at December 31, 2020, or December 31, 2019. Certain borrowers are currently unable to meet their contractual payment obligations because of the adverse effects of COVID-19. To help mitigate these effects, loan customers may apply for a deferral of payments, or portions thereof, for up to 90 days. The CARES Act and related guidance from the federal banking agencies provide financial institutions the option to temporarily suspend requirements under GAAP related to classification of certain loan modifications as TDRs to account for the current and anticipated effects of COVID-19. The CARES Act, as amended by the Consolidated Appropriations Act, 2021, specified that COVID-19 related loan modifications executed between March 1, 2020 and the earlier of (i) 60 days after the date of termination of the national emergency declared by the President and (ii) January 1, 2022, on loans that were current as of December 31, 2019 are not TDRs. Additionally, under guidance from the federal banking agencies, other short-term modifications made on a good faith basis in response to COVID-19 to borrowers that were current prior to any relief are not TDRs under ASC Subtopic 310-40, “Troubled Debt Restructuring by Creditors.” These modifications include short-term (e.g., up to six months) modifications such as payment deferrals, fee waivers, extensions of repayment terms, or delays in payment that are insignificant. At December 31, 2020, the Company had 49 loans totaling $97.7 million under COVID-19 related forbearance agreements that were not treated as TDRs pursuant to the CARES Act and interagency guidance. Loans classified as TDRs, excluding the impact of forbearances granted due to COVID-19, were as follows: (Dollars in thousands) December 31, TDRs 2020 2019 Nonaccrual TDRs $ 5,671 $ 6,609 Performing TDRs 3,314 1,843 Total $ 8,985 $ 8,452 The tables below summarize loans classified as TDR's by loan and concession type. Year Ended December 31, 2020 (Dollars in thousands) Number of Loans Restructured Pre-Modification Recorded Balance Term Concessions Interest Rate Concessions Combination of Term and Rate Concessions Total Modifications Loans secured by real estate: Commercial real estate 2 $ 1,696 $ 1,694 $ — $ — $ 1,694 Residential real estate 5 1,212 — 177 877 1,054 Total real estate 7 2,908 1,694 177 877 2,748 Commercial and industrial 5 217 193 — — 193 Consumer 1 2 — — 2 2 Total 13 $ 3,127 $ 1,887 $ 177 $ 879 $ 2,943 Year Ended December 31, 2019 (Dollars in thousands) Number of Loans Restructured Pre-Modification Recorded Balance Term Concessions Interest Rate Concessions Combination of Term and Rate Concessions Total Modifications Loans secured by real estate: Construction/land/land development 1 $ 361 $ — $ — $ 343 $ 343 Residential real estate 2 2,516 — — 2,410 2,410 Total real estate 3 2,877 — — 2,753 2,753 Commercial and industrial 5 1,314 852 — — 852 Consumer 1 11 9 — — 9 Total 9 $ 4,202 $ 861 $ — $ 2,753 $ 3,614 Year Ended December 31, 2018 (Dollars in thousands) Number of Loans Restructured Pre-Modification Recorded Balance Term Concessions Interest Rate Concessions Combination of Term and Rate Concessions Total Modifications Loans secured by real estate: Commercial real estate 1 $ 252 $ 150 $ — $ — $ 150 Residential real estate 6 428 48 19 331 398 Total real estate 7 680 198 19 331 548 Commercial and industrial 3 198 180 — 14 194 Consumer 1 33 — — 29 29 Total 11 $ 911 $ 378 $ 19 $ 374 $ 771

Fair Value of Financial Instrum

Fair Value of Financial Instruments12 Months Ended
Dec. 31, 2020
Fair Value Disclosures [Abstract]
Fair Value of Financial InstrumentsNote 5 - Fair Value of Financial Instruments Fair value is the exchange price that is expected to be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Certain assets and liabilities are recorded in the Company's consolidated financial statements at fair value. Some are recorded on a recurring basis and some on a non-recurring basis. The Company utilizes fair value measurement to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. The determination of fair values of financial instruments often requires the use of estimates. In cases where quoted market values in an active market are not available, the Company utilizes valuation techniques that are consistent with the market approach, the income approach and/or the cost approach to estimate the fair values of its financial instruments. Such valuation techniques are consistently applied. A hierarchy for fair value has been established which categorizes the valuation techniques into three levels used to measure fair value. The three levels are as follows: Level 1 - Fair value is based on unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 - Fair value is based on significant other observable inputs that are generally determined based on a single price for each financial instrument provided to the Company by an unrelated third-party pricing service and is based on one or more of the following: • Quoted prices for similar, but not identical, assets or liabilities in active markets; • Quoted prices for identical or similar assets or liabilities in markets that are not active; • Inputs other than quoted prices that are observable, such as interest rate and yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates; • Other inputs derived from or corroborated by observable market inputs. Level 3 - Prices or valuation techniques that require inputs that are both significant and unobservable in the market. These instruments are valued using the best information available, some of which is internally developed, and reflects the Company's own assumptions about the risk premiums that market participants would generally require and the assumptions they would use. There were no transfers between fair value reporting levels for any period presented. Fair Values of Assets and Liabilities Recorded on a Recurring Basis The following tables summarize financial assets and financial liabilities recorded at fair value on a recurring basis at December 31, 2020 and 2019, segregated by the level of valuation inputs within the fair value hierarchy utilized to measure fair value. There were no changes in the valuation techniques during 2020 or 2019. December 31, 2020 (Dollars in thousands) Level 1 Level 2 Level 3 Total State and municipal securities $ — $ 398,120 $ 44,065 $ 442,185 Corporate bonds — 65,938 — 65,938 U.S. government agency securities — 849 — 849 Commercial mortgage-backed securities — 11,080 — 11,080 Residential mortgage-backed securities — 214,951 — 214,951 Residential collateralized mortgage obligations — 195,343 — 195,343 Asset-backed securities — 74,328 — 74,328 Securities available for sale — 960,609 44,065 1,004,674 Securities carried at fair value through income — — 11,554 11,554 Loans held for sale — 136,026 — 136,026 Loans at fair value — — 17,011 17,011 Mortgage servicing rights — — 13,660 13,660 Other assets - derivatives — 23,694 — 23,694 Total recurring fair value measurements - assets $ — $ 1,120,329 $ 86,290 $ 1,206,619 Other liabilities - derivatives $ — $ (23,020) $ — $ (23,020) Total recurring fair value measurements - liabilities $ — $ (23,020) $ — $ (23,020) December 31, 2019 (Dollars in thousands) Level 1 Level 2 Level 3 Total State and municipal securities $ — $ 61,011 $ 38,173 $ 99,184 Corporate bonds — 16,817 — 16,817 U.S. government agency securities — 5,238 — 5,238 Commercial mortgage-backed securities — 12,144 — 12,144 Residential mortgage-backed securities — 207,506 — 207,506 Commercial collateralized mortgage obligations — 4,394 — 4,394 Residential collateralized mortgage obligations — 155,787 — 155,787 Securities available for sale — 462,897 38,173 501,070 Securities carried at fair value through income — — 11,513 11,513 Loans held for sale — 36,977 — 36,977 Loans at fair value — — 17,670 17,670 Mortgage servicing rights — — 20,697 20,697 Other assets - derivatives — 9,384 — 9,384 Total recurring fair value measurements - assets $ — $ 509,258 $ 88,053 $ 597,311 Other liabilities - derivatives $ — $ (9,488) $ — $ (9,488) Total recurring fair value measurements - liabilities $ — $ (9,488) $ — $ (9,488) The changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the years ended December 31, 2020 and 2019, are summarized as follows: (Dollars in thousands) Loans at Fair Value MSRs Securities Available for Sale Securities at Fair Value Through Income Balance at January 1, 2020 $ 17,670 $ 20,697 $ 38,173 $ 11,513 Gain (loss) recognized in earnings: Mortgage banking revenue (1) — (12,746) — — Other noninterest income (53) — — 493 Gain recognized in AOCI — — 1,575 — Purchases, issuances, sales and settlements: Originations — 5,709 — — Purchases — — 6,478 — Sales — — (140) — Settlements (606) — (2,021) (452) Balance at December 31, 2020 $ 17,011 $ 13,660 $ 44,065 $ 11,554 Balance at January 1, 2019 $ 18,571 $ 25,114 $ 39,361 $ 11,361 Losses recognized in earnings: Mortgage banking revenue (1) — (7,012) — — Other noninterest income 124 — — 586 Loss recognized in AOCI — — 1,673 — Purchases, issuances, sales, and settlements: Originations — 2,595 — — Sales — — (2,861) — Settlements (1,025) — — (434) Balance at December 31, 2019 $ 17,670 $ 20,697 $ 38,173 $ 11,513 ____________________________ (1) Total mortgage banking revenue includes changes in fair value due to market changes and run-off. The Company obtains fair value measurements for loans at fair value, securities available for sale and securities at fair value through income from an independent pricing service, therefore, quantitative unobservable inputs are unknown. The following methodologies were used to measure the fair value of financial assets and liabilities valued on a recurring basis: Securities Available for Sale Securities classified as available for sale are reported at fair value utilizing Level 1, Level 2 or Level 3 inputs. For Level 2 securities, the Company obtains fair value measurements from an independent pricing service. The fair value measurements consider observable data that may include dealer quotes, market spreads, cash flows, the U.S. Treasury yield curve, live trading levels, market consensus prepayment speeds, credit information and the security's terms and conditions, among other things. In order to ensure the fair values are consistent with Accounting Standards Codification ("ASC") 820, Fair Value Measurements and Disclosures , the Company periodically checks the fair value by comparing them to another pricing source, such as Bloomberg LP. The third-party pricing service is subject to an annual review of internal controls in accordance with the Statement on Standards for Attestation Engagements No. 16, which was made available to the Company. In certain cases where Level 2 inputs are not available, securities are classified within Level 3 of the hierarchy. Mortgage Servicing Rights ("MSR") The carrying amounts of the MSRs equal fair value and are valued using a discounted cash flow valuation technique. The significant assumptions used to value MSRs were as follows: December 31, 2020 December 31, 2019 Range Weighted Average (1) Weighted Average (1) Prepayment speeds 11.82% - 37.95% 22.08 % 12.46 % Discount rates 7.83 - 9.09 8.27 9.55 __________________________ (1) The weighted average was calculated with reference to the principle balance of the underlying mortgages. In recent years, there have been significant market-driven fluctuations in the assumptions listed above. Loans with higher average coupon rates have a greater likelihood of prepayment during the current interest rate environment, while loans with lower average coupon rates have a lower likelihood of prepayment. The decline in rates during the year ended December 31, 2020, has caused an increase in our weighted average prepayment speed assumptions used in the MSR valuation. These fluctuations can be rapid and may continue to be significant. Therefore, estimating these assumptions within ranges that market participants would use in determining the fair value of MSRs requires significant management judgment. Derivatives Fair values for interest rate swap agreements are based upon the amounts that would be required to settle the contracts. Fair values for derivative loan commitments and forward loan sale commitments are based on fair values of the underlying mortgage loans and the probability of such commitments being exercised. Significant management judgment and estimation is required in determining these fair value measurements. Fair Values of Assets Recorded on a Recurring Basis for which the Fair Value Option has been Elected Certain assets are measured at fair value on a recurring basis due to the Company's election to adopt fair value accounting treatment for those assets. This election allows for a more effective offset of the changes in fair values of the assets and the derivative instruments used to economically hedge them without the burden of complying with the requirements for hedge accounting under ASC 815, Derivatives and Hedging. For assets for which the fair value has been elected, the earned current contractual interest payment is recognized in interest income, loan origination costs and fees on fair value option loans are recognized in earnings as incurred and not deferred. At December 31, 2020 and 2019, there were no gains or losses recorded attributable to changes in instrument-specific credit risk. The following tables summarize the difference between the fair value and the unpaid principal balance for financial instruments for which the fair value option has been elected: December 31, 2020 (Dollars in thousands) Aggregate Fair Value Aggregate Unpaid Principal Balance Difference Loans held for sale (1) $ 136,026 $ 129,955 $ 6,071 Commercial real estate LHFI (2) 17,011 16,760 251 Securities carried at fair value through income 11,554 10,618 936 Total $ 164,591 $ 157,333 $ 7,258 ____________________________ (1) $681,000 of loans held for sale were designated as nonaccrual or 90 days or more past due at December 31, 2020. Of this balance, $473,000 was guaranteed by U.S. Government agencies. (2) There were no commercial real estate loans for which the fair value had been elected that were designated as nonaccrual or 90 days or more past due at December 31, 2020. December 31, 2019 (Dollars in thousands) Aggregate Fair Value Aggregate Unpaid Principal Balance Difference Loans held for sale (1) $ 36,977 $ 36,037 $ 940 Commercial real estate LHFI (2) 17,670 17,366 304 Securities carried at fair value through income 11,513 11,070 443 Total $ 66,160 $ 64,473 $ 1,687 ____________________________ (1) A total of $927,000 of loans held for sale were designated as nonaccrual or 90 days or more past due at December 31, 2019. Of this balance, $709,000 was guaranteed by U.S. Government agencies. (2) There were no commercial real estate loans for which the fair value had been elected that were designated as nonaccrual or 90 days or more past due at December 31, 2019. Changes in the fair value of assets for which the Company elected the fair value option are classified in the consolidated statement of income line items reflected in the following table: (Dollars in thousands) Years Ended December 31, Changes in fair value included in noninterest income: 2020 2019 2018 Mortgage banking revenue $ 5,131 $ 550 $ (163) Other income: Loans at fair value held for investment (53) 124 (389) Securities carried at fair value through income 493 586 (258) Total impact on other income 440 710 (647) Total fair value option impact on noninterest income (1) $ 5,571 $ 1,260 $ (810) ____________________________ (1) The fair value option impact on noninterest income is offset by the derivative gain/loss recognized in noninterest income. Please see Note 9 - Mortgage Banking for more detail. The following methodologies were used to measure the fair value of financial assets valued on a recurring basis for which the fair value option was elected: Securities at Fair Value through Income Securities carried at fair value through income are valued using a discounted cash flow with a credit spread applied to each instrument based on the credit worthiness of each issuer. Credit spreads ranged from 83 to 227 basis points at both December 31, 2020 and 2019. The Company believes the fair value approximates an exit price. Loans Held for Sale Fair values for loans held for sale are established using anticipated sale prices for loans allocated to a sale commitment, and those unallocated to a commitment are valued based on the interest rate and term for similar loans allocated. The Company believes the fair value approximates an exit price. LHFI For LHFI for which the fair value option has been elected, fair values are calculated using a discounted cash flow model with inputs including observable interest rate curves and unobservable credit adjustment spreads based on credit risk inherent in the loan. Credit spreads ranged from 290 to 413 basis points at both December 31, 2020 and 2019. The Company believes the fair value approximates an exit price. Fair Value of Assets Recorded on a Nonrecurring Basis Equity Securities without Readily Determinable Fair Values Equity securities without readily determinable fair values totaled $62.6 million and $39.8 million, at December 31, 2020 and 2019, respectively, and are shown on the face of the consolidated balance sheets. The majority of the Company's equity investments qualify for the practical expedient allowed for equity securities without a readily determinable fair value, such that the Company has elected to carry these securities at cost adjusted for any observable transactions during the period, less any impairment. To date, no impairment has been recorded on the Company's investments in equity securities that do not have readily determinable fair values. Government National Mortgage Association Repurchase Asset The Company recorded $55.5 million and $27.9 million, respectively, at December 31, 2020 and 2019, for Government National Mortgage Association ("GNMA") repurchase assets included in mortgage loans held for sale on the consolidated balance sheets. The assets are valued at the lower of cost or market and, where market is lower than cost, valued using anticipated sale prices for loans allocated to a sale commitment, and those unallocated to a commitment are valued based on the interest rate and term for similar loans allocated. The Company believes the fair value approximates an exit price. Please see Note 9 - Mortgage Banking for more information on the GNMA repurchase asset. Collateral Dependent Loans with Credit Losses Loans for which it is probable that the Company will not collect all principal and interest due according to contractual terms are measured to determine if any credit loss exists. Allowable methods for determining the amount of credit loss includes estimating the fair value using the fair value of the collateral for collateral-dependent loans. If the loan is identified as collateral-dependent, the fair value method of measuring the amount of credit loss is utilized. This method requires obtaining a current independent appraisal of the collateral and applying a discount factor to the value. Loans that have experienced a credit loss that are collateral-dependent are classified within Level 3 of the fair value hierarchy when the credit loss is determined using the fair value method. The fair value of loans that have experienced a credit loss with specific allocated losses was approximately $12.3 million and $1.9 million at December 31, 2020, and December 31, 2019, respectively. Non-Financial Assets Foreclosed assets held for sale are the only non-financial assets valued on a non-recurring basis that are initially recorded by the Company at fair value, less estimated costs to sell. At foreclosure, if the fair value, less estimated costs to sell, of the real estate acquired is less than the Company's recorded investment in the related loan, a write-down is recognized through a charge to the allowance for loan credit losses. Additionally, valuations are periodically performed by management and any subsequent reduction in value is recognized by a charge to income. The carrying value and fair value of foreclosed assets held for sale is estimated using Level 3 inputs based on observable market data and was $1.6 million and $4.7 million at December 31, 2020 and 2019, respectively. At December 31, 2020, the Company had no residential mortgage loans in the process of foreclosure. Fair Values of Financial Instruments Not Recorded at Fair Value Loans The estimated fair value approximates carrying value for variable-rate loans that reprice frequently and with no significant change in credit risk. The fair value of fixed-rate loans and variable-rate loans which reprice on an infrequent basis is estimated by discounting future cash flows using exit level pricing, which combines the current interest rates at which similar loans with similar terms would be made to borrowers of similar credit quality and an estimated additional rate to reflect a liquidity premium. An overall valuation adjustment is made for specific credit risks as well as general portfolio credit risk. Deposits The estimated fair value approximates carrying value for demand deposits. The fair value of fixed-rate deposit liabilities with defined maturities is estimated by discounting future cash flows using the interest rates currently available for funding from the FHLB. The estimated fair value of deposits does not take into account the value of our long-term relationships with depositors, commonly known as core deposit intangibles, which are separate intangible assets, and not considered financial instruments. Nonetheless, the Company would likely realize a core deposit premium if the deposit portfolio were sold in the principal market for such deposits. Borrowed Funds The estimated fair value approximates carrying value for short-term borrowings. The fair value of long-term fixed-rate and fixed-to-floating-rate borrowings is estimated using quoted market prices, if available, or by discounting future cash flows using current interest rates for similar financial instruments. The estimated fair value approximates carrying value for variable-rate junior subordinated debentures that reprice quarterly. The carrying value and estimated fair values of financial instruments not recorded at fair value are as follows: (Dollars in thousands) December 31, Financial assets: 2020 2019 Level 1 inputs: Carrying Estimated Carrying Estimated Cash and cash equivalents $ 377,214 $ 377,214 $ 291,518 $ 291,518 Level 2 inputs: Non-marketable equity securities held in other financial institutions 62,586 62,586 39,808 39,808 Accrued interest and loan fees receivable 27,146 27,146 16,430 16,430 Level 3 inputs: Securities held to maturity 38,128 41,205 28,620 29,523 LHFI, net (1) 5,621,092 5,802,744 4,088,005 3,940,347 Financial liabilities: Level 2 inputs: Deposits 5,751,315 5,756,312 4,228,612 4,081,430 FHLB advances and other borrowings 984,608 991,943 417,190 425,318 Subordinated debentures 157,181 156,395 9,671 10,717 Accrued interest payable 3,556 3,556 2,822 2,822 ____________________________ (1) Does not include loans for which the fair value option had been elected at December 31, 2020 or 2019, as these loans are carried at fair value on a recurring basis.

Premises and Equipment

Premises and Equipment12 Months Ended
Dec. 31, 2020
Property, Plant and Equipment [Abstract]
Premises and EquipmentNote 6 - Premises and Equipment Major classifications of premises and equipment are summarized below: December 31, (Dollars in thousands) 2020 2019 Land, buildings and improvements $ 85,108 $ 83,161 Furniture, fixtures and equipment 28,599 27,911 Leasehold improvements 16,715 15,790 Construction in process 1,142 407 Total premises and equipment 131,564 127,269 Accumulated depreciation (49,801) (46,812) Premises and equipment, net $ 81,763 $ 80,457

Leases

Leases12 Months Ended
Dec. 31, 2020
Leases [Abstract]
LeasesNote 7 - Leases The Company leases certain real estate, as well as certain equipment, under non-cancelable operating leases that expire at various dates through 2038. The balance sheet details and components of the Company's lease expense were as follows: (Dollars in thousands) December 31, 2020 December 31, 2019 Operating lease right of use assets (included in Accrued interest receivable and other assets) $ 21,667 $ 24,013 Operating lease liabilities (included in Accrued expenses and other liabilities) 23,445 25,810 Finance lease liabilities (included in Accrued expenses and other liabilities) 3,148 248 Weighted average remaining lease term (years) - operating leases 9.22 9.58 Weighted average discount rate - operating leases 3.44 % 3.49 % Years Ended (Dollars in thousands) December 31, 2020 December 31, 2019 Lease expense: Operating lease expense $ 4,680 $ 4,716 Other lease expense 265 245 Total lease expense $ 4,945 $ 4,961 Right of use assets obtained in exchange for new operating lease liabilities $ 1,338 $ 1,256 Total lease expense was $4.4 million for the year ended December 31, 2018. Maturities of operating lease liabilities at December 31, 2020, were as follows: December 31, 2020 Year 1 $ 4,330 Year 2 4,064 Year 3 3,638 Year 4 2,584 Year 5 2,040 Year 6 and thereafter 11,165 Total lease payments 27,821 Less: Imputed interest 4,376 Total lease obligations $ 23,445 Supplemental cash flow related to leases was as follows: Year Ended December 31, 2020 December 31, 2019 Cash paid for operating leases $ 4,791 $ 4,796

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets12 Months Ended
Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible AssetsNote 8 - Goodwill and Other Intangible Assets There were no changes to the carrying amount of the Company's goodwill during the years ended December 31, 2020 and 2019. The components of the Company's goodwill and other intangible assets are as follows: (Dollars in thousands) December 31, 2020 Gross Accumulated Amortization Net Goodwill $ 26,741 $ — $ 26,741 Other intangible assets: Core deposit intangibles 1,260 (1,192) 68 Relationship based intangibles 7,304 (3,648) 3,656 Tradename 186 (171) 15 Non-compete 270 (270) — Total $ 35,761 $ (5,281) $ 30,480 December 31, 2019 Goodwill $ 26,741 $ — $ 26,741 Other intangible assets: Core deposit intangibles 1,260 (1,091) 169 Relationship based intangibles 7,304 (2,781) 4,523 Tradename 186 (124) 62 Non-compete 270 (225) 45 Total $ 35,761 $ (4,221) $ 31,540 Amortization expense on other intangible assets totaled $1.1 million, $1.3 million and $961,000 for the years ended December 31, 2020, 2019 and 2018, respectively, and was included as a component of other noninterest expense in the consolidated statements of income. Estimated future amortization expense for intangible assets remaining at December 31, 2020, was as follows: (Dollars in thousands) Years Ended December 31, 2021 $ 844 2022 689 2023 582 2024 488 2025 393 Thereafter 743 Total $ 3,739

Mortgage Banking

Mortgage Banking12 Months Ended
Dec. 31, 2020
Mortgage Banking [Abstract]
Mortgage BankingNote 9 - Mortgage Banking The following table presents the Company's revenue from mortgage banking operations: (Dollars in thousands) Years Ended December 31, Mortgage banking revenue 2020 2019 2018 Origination $ 1,880 $ 1,000 $ 854 Gain on sale of loans held for sale 19,190 6,943 6,403 Servicing 6,116 6,547 7,081 Total gross mortgage revenue 27,186 14,490 14,338 Mortgage HFS and pipeline fair value adjustment 7,351 979 (725) MSR valuation adjustment, net of amortization (12,746) (7,012) (963) MSR hedge impact 7,812 3,852 (3,030) Mortgage banking revenue $ 29,603 $ 12,309 $ 9,620 Management uses mortgage-backed securities to mitigate the impact of changes in fair value of MSRs. See Note 12 - Derivative Financial Instruments for further information. Mortgage Servicing Rights Activity in MSRs was as follows: Years Ended December 31, (Dollars in thousands) 2020 2019 2018 Balance at beginning of period $ 20,697 $ 25,114 $ 24,182 Addition of servicing rights 5,709 2,595 1,895 Valuation adjustment, net of amortization (12,746) (7,012) (963) Balance at end of period $ 13,660 $ 20,697 $ 25,114 The Company receives annual servicing fee income approximating 0.28% of the outstanding balance of the underlying loans. In connection with the Company's activities as a servicer of mortgage loans, the investors and the securitization trusts have no recourse to the Company's assets for failure of debtors to pay when due. The Company is potentially subject to losses in its loan servicing portfolio due to loan foreclosures. The Company has obligations to either repurchase the outstanding principal balance of a loan or make the purchaser whole for the economic benefits of a loan if it is determined that the loan sold violated representations or warranties made by the Company and/or the borrower at the time of the sale, which the Company refers to as mortgage loan servicing putback expenses. Such representations and warranties typically include those made regarding loans that had missing or insufficient file documentation and/or loans obtained through fraud by borrowers or other third parties. Putback claims may be made until the loan is paid in full. When a putback claim is received, the Company evaluates the claim and takes appropriate actions based on the nature of the claim. The Company is required by Federal National Mortgage Association and Federal Home Loan Mortgage Corporation to provide a response to putback claims within 60 days of the date of receipt. The Company incurred $82,000 in mortgage loan servicing putback reserve expense for the year ended December 31, 2020, and $33,000 for the year ended December 31, 2019. The Company incurred no mortgage loan servicing putback reserve expense for the year ended December 31, 2018. At December 31, 2020 and 2019, the reserve for mortgage loan servicing putback expenses totaled $311,000 and $229,000, respectively. There is inherent uncertainty in reasonably estimating the requirement for reserves against future mortgage loan servicing putback expenses. Future putback expenses depend on many subjective factors, including the review procedures of the purchasers and the potential refinance activity on loans sold with servicing released and the subsequent consequences under the representations and warranties.

Deposits

Deposits12 Months Ended
Dec. 31, 2020
Deposits [Abstract]
DepositsNote 10 - Deposits Deposit balances are summarized as follows: December 31, (Dollars in thousands) 2020 2019 Noninterest-bearing demand $ 1,607,564 $ 1,077,706 Interest bearing demand 1,052,639 776,037 Money market 1,789,914 1,277,053 Brokered 431,180 152,556 Savings 205,252 154,450 Time deposits 664,766 790,810 Total Deposits $ 5,751,315 $ 4,228,612 Municipal deposits totaled $689.3 million and $423.8 million at December 31, 2020 and 2019, respectively. Included in time deposits at December 31, 2020 and 2019, are $271.3 million and $319.1 million, respectively, of time deposits in denominations of $250,000 or more. Maturities of time deposits, at December 31, 2020, are as follows: (Dollars in thousands) Years Ended December 31, 2021 $ 497,516 2022 103,156 2023 31,272 2024 25,025 2025 7,797 Total $ 664,766 At December 31, 2020 and 2019, overdrawn deposits of $462,000 and $1.1 million, respectively, were reclassified as unsecured loans.

Borrowings

Borrowings12 Months Ended
Dec. 31, 2020
Debt Disclosure [Abstract]
BorrowingsNote 11 - Borrowings Borrowed funds are summarized as follows: December 31, (Dollars in thousands) 2020 2019 Overnight repurchase agreements with depositors $ 8,408 $ 16,717 Short-term FHLB advances 650,000 100,000 GNMA repurchase liability 55,485 27,860 Long-term FHLB advances 270,715 272,613 Total FHLB advances and other borrowings $ 984,608 $ 417,190 Subordinated debentures, net $ 157,181 $ 9,671 Additional details of certain FHLB advances are as follows: (Dollars in thousands) Amount Interest Rate Maturity Date At December 31, 2020: Short-term FHLB advance, fixed rate $ 650,000 0.10 % 1/4/2021 Long-term FHLB advance, callable quarterly, fixed rate 250,000 1.65 8/23/2033 At December 31, 2019: Short-term FHLB advance, fixed rate 100,000 1.35 1/2/2020 Long-term FHLB advance, callable quarterly, fixed rate 250,000 1.65 8/23/2033 Short-Term Borrowings The Company had unsecured lines of credit for the purchase of federal funds in the amount of $190.0 million and $180.0 million at December 31, 2020 and 2019, respectively. The Company also had a $75.0 million secured repurchase line of credit at December 31, 2020 and 2019. There were no amounts outstanding on these lines at either date. It is customary for the financial institutions granting the unsecured lines of credit to require a minimum amount of cash be held on deposit at that institution. Amounts required to be held on deposit are typically $250,000 or less, and the Company has complied with all compensating balance requirements to allow utilization of these lines of credit. Securities sold under agreements to repurchase consist of the Company's obligations to other parties and mature on a daily basis. These obligations to other parties carried a daily average interest rate of 0.22% and 1.20% for the years ended December 31, 2020 and 2019, respectively. Long-Term Borrowings Interest rates for FHLB long-term advances outstanding at both December 31, 2020 and 2019, ranged from 1.65% to 5.72%, respectively. These advances are all fixed rate and are subject to restrictions or penalties in the event of prepayment. Scheduled maturities of long-term advances from the FHLB at December 31, 2020, are as follows: (Dollars in thousands) Years Ended December 31, 2021 $ 1,090 2022 2,404 2023 4,043 2024 3,020 2025 1,641 Thereafter (1) 258,517 Total $ 270,715 __________________________ (1) Includes a FHLB advances totaling $250.0 million callable quarterly with a final maturity in 2033, carrying a rate of 1.65%. Security for all indebtedness and outstanding commitments to the FHLB consists of a blanket floating lien on all of the Company's first mortgage loans, commercial real estate and other real estate loans, as well as the Company's investment in capital stock of the FHLB and deposit accounts at the FHLB. The net amounts available under the blanket floating lien at December 31, 2020 and 2019, were $456.9 million and $601.9 million, respectively. Additionally, at December 31, 2020 and December 31, 2019, the Company had the availability to borrow $793.2 million and $855.1 million, respectively, from the discount window at the Federal Reserve Bank of Dallas, with $999.7 million and $1.09 billion in commercial and industrial loans pledged as collateral, respectively. There were no borrowings against this line at December 31, 2020 or 2019. Holding Company Line of Credit During 2018, the Company entered into a Loan Agreement (the "Loan Agreement") with NexBank SSB ("Lender") pursuant to which the Lender will make one or more revolving credit loans of up to $50 million at any time that the Company may use for working capital and general corporate purposes. The principal amounts borrowed under the Loan Agreement will bear interest at a variable rate equal to the applicable one-month LIBOR rate plus 3.25%. The line of credit available to the Company under the Loan Agreement expires on October 5, 2021, or such date of the acceleration of the obligation pursuant to the Loan Agreement, at which time all amounts borrowed, together with applicable interest, fees and other amounts owed by the Company shall be due and payable. There were no outstanding revolving credit loans under the Loan Agreement at December 31, 2020 or 2019. Subordinated Debentures In February 2020, Origin Bank completed an offering of $70.0 million in aggregate principal amount of 4.25% fixed-to-floating rate subordinated notes due 2030 (the “Notes”) to certain investors in a transaction exempt from registration under Section 3(a)(2) of the Securities Act of 1933, as amended. The Notes initially bear interest at a fixed annual rate of 4.25%, payable semi-annually in arrears, to but excluding February 15, 2025. From and including February 15, 2025, to but excluding the maturity date or early redemption date, the interest rate will equal the three-month LIBOR rate (provided, that in the event the three-month LIBOR is less than zero, the three-month LIBOR will be deemed to be zero) plus 282 basis points, payable quarterly in arrears. Origin Bank is entitled to redeem the Notes, in whole or in part, on or after February 15, 2025, and to redeem the Notes at any time in whole upon certain other specified events. The Notes qualify as Tier 2 capital for regulatory capital purposes for Origin Bank. In October 2020, the Company completed of an offering of $80.0 million in aggregate principal amount of 4.50% fixed-to-floating rate subordinated notes due 2030 (the “4.50% Notes”). The 4.50% Notes bear a fixed interest rate of 4.50% payable semi-annually in arrears, to but excluding November 1, 2025. From and including November 1, 2025, to but excluding the maturity date or earlier redemption date, the 4.50% Notes bear a floating interest rate expected to equal the three-month term Secured Overnight Financing Rate plus 432 basis points, payable quarterly in arrears. The Company may redeem the 4.50% Notes at any time upon certain specified events or in whole or in part on or after November 1, 2025. The 4.50% Notes qualify as Tier 2 capital for regulatory capital purposes for the Company and $51.0 million was transferred to Origin Bank during the fourth quarter of 2020, which qualifies as Tier 1 capital for regulatory capital purposes for the Bank. The 4.50% Notes provided net proceeds to the Company of approximately $78.6 million. The Company has two wholly-owned, unconsolidated subsidiary grantor trusts that were established for the purpose of issuing trust preferred securities. The trust preferred securities accrue and pay distributions periodically at specified annual rates as provided in each trust agreement. The trusts used the net proceeds from each of the offerings to purchase a like amount of junior subordinated debentures (the "debentures") of the Company. The debentures are the sole assets of the trusts. The Company's obligations under the debentures and related documents, taken together, constitute a full and unconditional guarantee by the Company of the obligations of the trusts. The trust preferred securities are mandatorily redeemable upon maturity of the debentures and can be currently redeemed by the Company in whole or in part, at a redemption price specified in the indentures plus any accrued but unpaid interest to the redemption date. Due to the extended maturity date of the trust preferred securities, they are included in Tier I capital for regulatory purposes, subject to certain limitations. The following table is a summary of the terms of the current junior subordinated debentures at December 31, 2020: (Dollars in thousands) Issuance Trust Issuance Date Maturity Date Amount Outstanding Rate Type Current Rate Maximum Rate CTB Statutory Trust I 07/2001 07/2031 $ 6,702 Variable (1) 3.51 % 12.50 % First Louisiana Statutory Trust I 09/2006 12/2036 4,124 Variable (2) 2.02 16.00 $ 10,826 ____________________________ (1) The trust preferred securities reprice quarterly based on the three-month LIBOR plus 3.30%, with the last reprice date on October 29, 2020. (2) The trust preferred securities reprice quarterly based on the three-month LIBOR plus 1.80%, with the last reprice date on December 11, 2020. The balance of the junior subordinated debentures outstanding varies from the amounts carried on the consolidated balance sheets due to the remaining purchase discount of $1.1 million and $1.2 million, at December 31, 2020, and December 31, 2019, respectively, which was established at the time of issuance and is being amortized over the remaining life of the securities using the interest method.

Derivative Financial Instrument

Derivative Financial Instruments12 Months Ended
Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial InstrumentsNote 12 - Derivative Financial Instruments Risk Management Objective of Using Derivatives The Company enters into derivative financial instruments to manage risks related to differences in the amount, timing, and duration of the Company's known or expected cash receipts and its known or expected cash payments, as well as to manage changes in fair values of some assets which are marked at fair value through the consolidated statement of income on a recurring basis. Cash Flow Hedges of Interest Rate Risk The Company is a party to an interest rate swap agreement under which the Company receives interest at a variable rate and pays at a fixed rate. The derivative instrument represented by this swap agreement is designated as a cash flow hedge of the Company's forecasted variable cash flows under a variable-rate term borrowing agreement. During the term of the swap agreement, the effective portion of changes in the fair value of the derivative instrument are recorded in accumulated other comprehensive income and subsequently reclassified into earnings in the periods that the hedged forecasted variable-rate interest payments affected earnings. There was no ineffective portion of the change in fair value of the derivative recognized directly in earnings. The entire swap fair value will be reclassified into earnings before the expiration date of the swap agreement. Derivatives Not Designated as Hedges Customer interest rate derivative program The Company offers certain derivatives products, primarily interest rate swaps, directly to qualified commercial banking customers to facilitate their risk management strategies. In some instances, the Company acts only as an intermediary, simultaneously entering into offsetting agreements with unrelated financial institutions, thereby mitigating its net risk exposure resulting from such transactions without significantly impacting its results of operations. Because the interest rate derivatives associated with this program do not meet hedge accounting requirements, changes in the fair value of both the customer derivatives and any offsetting derivatives are recognized directly in earnings as a component of noninterest income. From time to time, the Company shares in credit risk on interest rate swap arrangements, by entering into risk participation agreements with syndication partners. These are accounted for at fair value and disclosed as risk participation derivatives. Mortgage banking derivatives The Company enters into certain derivative agreements as part of its mortgage banking and related risk management activities. These agreements include interest rate lock commitments on prospective residential mortgage loans and forward commitments to sell these loans to investors on a mandatory delivery basis. The Company also economically hedges the value of MSRs by entering into a series of commitments to purchase mortgage-backed securities in the future. Fair Values of Derivative Instruments on the Balance Sheet The following tables disclose the fair value of derivative instruments in the Company's balance sheets at December 31, 2020 and 2019, as well as the effect of these derivative instruments on the Company's consolidated statements of income for the years ended December 31, 2020, 2019 and 2018: Notional Amounts (1) Fair Values (Dollars in thousands) December 31, December 31, Derivatives designated as cash flow hedging instruments: 2020 2019 2020 2019 Interest rate swaps included in other (liabilities) $ 21,000 $ 10,500 $ (706) $ (101) Derivatives not designated as hedging instruments: Interest rate swaps included in other assets $ 326,542 $ 217,633 $ 20,207 $ 8,425 Interest rate swaps included in other liabilities 347,096 246,397 (21,321) (9,278) Risk participation derivative included in accrued expenses and other liabilities on the consolidated balance sheets 63,374 — (18) — Forward commitments to purchase mortgage-backed securities included in other (liabilities) assets 107,000 200,000 (317) 242 Forward commitments to sell residential mortgage loans included in other liabilities 107,200 60,600 (658) (109) Interest rate-lock commitments on residential mortgage loans included in other assets 79,554 37,382 3,487 717 $ 1,030,766 $ 762,012 $ 1,380 $ (3) ____________________________ (1) Notional or contractual amounts, which represent the extent of involvement in the derivatives market, are used to determine the contractual cash flows required in accordance with the terms of the agreement. These amounts are typically not exchanged, significantly exceed amounts subject to credit or market risk and are not reflected in the consolidated balance sheets. The weighted-average rates paid and received for interest rate swaps at December 31, 2020 and 2019, were as follows: Weighted-Average Interest Rate December 31, 2020 2019 Interest rate swaps: Paid Received Paid Received Cash flow hedges 4.81 % 2.94 % 4.81 % 4.64 % Non-hedging interest rate swaps - financial institution counterparties 4.18 2.48 4.93 4.13 Non-hedging interest rate swaps - customer counterparties 2.52 4.19 4.18 4.93 Gains and losses recognized on derivative instruments not designated as hedging instruments are as follows: (Dollars in thousands) Years Ended December 31, Derivatives not designated as hedging instruments: 2020 2019 2018 Amount of gain (loss) recognized in mortgage banking revenue (1) $ 4,081 $ 3,079 $ (2,450) Amount of (loss) gain recognized in other non-interest income (307) (530) 584 ____________________________ (1) Gains and losses on these instruments are largely offset by market fluctuations in mortgage servicing rights. See Note 9 - Mortgage Banking for more information on components of mortgage banking revenue. Some interest rate swaps included in other assets were subject to a master netting arrangement with the counterparty in all years presented and could be offset against some amounts included in interest rate swaps included in other liabilities. The Company has chosen not to net these exposures in the consolidated balance sheets, and any impact of netting these amounts would not be significant.

Stock and Incentive Compensatio

Stock and Incentive Compensation Plans12 Months Ended
Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Stock and Incentive Compensation PlansNote 13 - Stock and Incentive Compensation Plans The Company has granted, and currently has outstanding, stock and incentive compensation awards subject to the provisions of the Company's 2012 Stock Incentive Plan ("2012 Plan"). Additionally, awards have been issued prior to the establishment of the 2012 Plan, some of which were still outstanding at December 31, 2020. The 2012 Plan is designed to provide flexibility to the Company regarding its ability to motivate, attract and retain the services of key officers, employees and directors. The 2012 Plan allows the Company to make grants of incentive stock options, non-qualified stock options, stock appreciation rights, restricted stock awards, restricted stock units, dividend equivalent rights, performance unit awards or any combination thereof. At December 31, 2020, the maximum number of shares of the Company's common stock available for issuance under the 2012 Plan was 921,248 shares. Share-based compensation cost charged to income for the years ended December 31, 2020, 2019 and 2018, is presented below. There was no stock option expense for any of the periods shown. Years Ended December 31, (Dollars in thousands) 2020 2019 2018 Restricted stock $ 2,320 $ 2,247 $ 1,462 Related tax benefits recognized in net income 487 472 307 Restricted Stock Grants The Company's restricted stock grants are time-vested awards and are granted to the Company's Board of Directors, executives and senior management team. The service period in which time-vested awards are earned ranges from one The following table summarizes the Company's time-vested award activity: Years Ended December 31, 2020 2019 2018 Shares Weighted Average Grant-Date Fair Value Shares Weighted Average Grant-Date Fair Value Shares Weighted Average Grant-Date Fair Value Nonvested shares, January 1, 149,449 $ 35.15 174,407 $ 35.01 61,293 $ 24.61 Granted 30,638 20.14 37,641 32.77 151,324 37.51 Vested (72,325) 33.88 (59,344) 33.50 (36,209) 27.70 Forfeited (4,403) 37.11 (3,255) 30.21 (2,001) 37.47 Nonvested shares, December 31, 103,359 31.51 149,449 35.15 174,407 35.01 During the years ended December 31, 2020 and 2019, no shares were retired by the Company upon vesting of restricted stock awards. During the year ended December 31, 2018, award recipients surrendered and the Company retired 910 shares to cover taxes owed upon the vesting of restricted stock awards. At December 31, 2020, there was $2.3 million of total unrecognized compensation cost related to nonvested restricted shares awarded under the 2012 Plan. That cost is expected to be recognized over a weighted average period of 1.9 years. Stock Option Grants The Company issues common stock options to select officers and employees through individual agreements and as a result of obligations assumed in association with certain business combinations. As a result, both incentive and nonqualified stock options have been issued and may be issued in the future. The exercise price of each option varies by agreement and is based on either the fair value of the stock at the date of the grant in circumstances where option grants occurred or based on the previously committed exercise price in the case of options acquired through merger. No outstanding stock option has a term that exceeds twenty years, and all of the outstanding options are fully vested. The Company recognizes compensation cost for stock option grants over the required service period based upon the grant date fair-value, which is established using a Black-Scholes valuation model. The Black-Scholes valuation model uses assumptions of risk-free interest rate, expected term of stock options, expected stock price volatility and expected dividends. Forfeitures are recognized as they occur. The table below summarizes the status of the Company's stock options and changes during the years ended December 31, 2020, 2019 and 2018. (Dollars in thousands, except per share amounts) Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term Aggregate Intrinsic Value Outstanding at January 1, 2018 319,500 $ 10.65 7.07 $ 4,840 Exercised (45,500) 12.29 — — Outstanding at December 31, 2018 274,000 10.38 6.75 6,493 Exercised (20,000) 8.25 — — Outstanding at December 31, 2019 254,000 10.55 5.81 6,932 Exercised (30,000) 8.25 — — Outstanding at December 31, 2020 224,000 $ 10.86 4.92 $ 3,789 Exercisable at December 31, 2020 224,000 $ 10.86 4.92 $ 3,789

Employee Retirement Plan

Employee Retirement Plan12 Months Ended
Dec. 31, 2020
Retirement Benefits [Abstract]
Employee Retirement PlanNote 14 - Employee Retirement Plan Defined Contribution Retirement Plan The Company maintains the Origin Bancorp, Inc. Employee Retirement Plan ("Retirement Plan") that is a defined contribution benefit plan, that allows contributions under section 401(k) of the Internal Revenue Code. The Retirement Plan covers substantially all employees who meet certain other requirements and employment classification criteria. Under the provisions of the Retirement Plan, the Company may make discretionary matching contributions on a percentage, not to exceed 6%, of a participant's elective deferrals. Any percentage(s) determined by the Company shall apply to all eligible persons for the entire plan year. Historically, the Company has matched 50% of the first 6% of eligible compensation deferred by a participant. Eligible compensation includes salaries, wages, overtime and bonuses, and excludes expense reimbursements and fringe benefits. In addition, the Company may make additional discretionary contributions out of current or accumulated net profit. Matching contributions are invested as directed by the participant. The total of the Company's contributions may not exceed limitations set forth in the Retirement Plan document or the maximum deductible under the Internal Revenue Code. Although it has not expressed any intention to do so, the Company has the right to terminate the Retirement Plan at any time. The total expense related to the Retirement Plan, including optional contributions, was $2.0 million, $1.8 million and $1.6 million for the years ended December 31, 2020, 2019 and 2018, respectively. Other Benefit Plans The Company has established non-qualified defined benefit plans for some of its key executives for which deferred compensation liabilities are recorded as a component of accrued expenses and other liabilities in the accompanying consolidated balance sheets. The deferred compensation liability was $11.3 million and $9.8 million at December 31, 2020 and 2019, respectively. The expense recorded for the deferred compensation plan totaled $1.9 million, $1.2 million, and $1.1 million for the years ended December 31, 2020, 2019 and 2018, respectively.

Income Taxes

Income Taxes12 Months Ended
Dec. 31, 2020
Income Tax Disclosure [Abstract]
Income TaxesNote 15 - Income Taxes The provision for income taxes is as follows: (Dollars in thousands) Years Ended December 31, Federal income taxes: 2020 2019 2018 Current $ 18,157 $ 14,232 $ 4,562 Deferred (11,545) (2,513) 5,658 State income taxes: Current 1,723 1,030 638 Deferred (339) (83) (21) Income tax expense $ 7,996 $ 12,666 $ 10,837 A reconciliation of income tax expense at the statutory rate to the Company's actual income tax expense is below: Years Ended December 31, 2020 2019 2018 (Dollars in thousands) Amount % Amount % Amount % Income taxes computed at statutory rate $ 9,314 21.00 % $ 13,975 21.00 % $ 13,113 21.00 % Tax exempt revenue, net of nondeductible interest (878) (1.98) (644) (0.97) (907) (1.45) Low-income housing tax credits, net of amortization (511) (1.15) (514) (0.77) (691) (1.11) Other tax credits, net of add-backs (1,218) (2.75) (1,218) (1.83) (1,218) (1.95) Bank-owned life insurance income (259) (0.58) (158) (0.24) (150) (0.24) State income taxes, net of federal benefit 1,033 2.35 730 1.10 469 0.75 Stock-based compensation 181 0.41 (100) (0.15) (252) (0.40) Deferred tax write-down for enacted tax rate changes — — — — 231 0.37 Nondeductible expense 257 0.58 413 0.62 337 0.53 Other 77 0.16 182 0.27 (95) (0.15) Total income tax expense $ 7,996 18.04 % $ 12,666 19.03 % $ 10,837 17.35 % Significant components of deferred tax assets and liabilities are as follows: (Dollars in thousands) December 31, Deferred tax assets: 2020 2019 Credit loss allowances $ 19,315 $ 8,557 Deferred compensation and share-based compensation 4,504 3,698 Net operating loss carryforwards 1,240 1,245 Other 1,064 1,441 Gross deferred tax assets 26,123 14,941 Valuation allowance (994) (970) Deferred tax assets net of valuation allowance $ 25,129 $ 13,971 Deferred tax liabilities: Basis difference in premises and equipment $ 3,089 $ 2,669 Intangible assets 118 157 Mortgage servicing rights 2,951 4,472 Other 146 152 Gross deferred tax liabilities 6,304 7,450 Net deferred tax asset $ 18,825 $ 6,521 At December 31, 2020, the Company has $3.6 million in Federal gross net operating loss carryforwards acquired in previous business combinations expiring between 2022 and 2028, and $11.1 million in state net operating losses. Due to limitations on the amounts of these losses that can be recognized annually, the Company has determined that it is more likely than not that some of these net operating loss carryforwards will expire unused, and has established a $994,000 valuation allowance related to these carryforwards. The Company files a consolidated income tax return in the U.S. federal jurisdiction and various states. With few exceptions, the Company is no longer subject to income tax examinations by tax authorities in these taxing jurisdictions for the years before 2017.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income12 Months Ended
Dec. 31, 2020
Equity [Abstract]
Accumulated Other Comprehensive IncomeNote 16 - Accumulated Other Comprehensive Income Accumulated other comprehensive income ("AOCI") includes the after-tax change in unrealized gains and losses on AFS securities and cash flow hedging activities. (Dollars in thousands) Unrealized Gains (Losses) on AFS Securities Unrealized Gains (Losses) on Cash Flow Hedges Accumulated Other Comprehensive Income Balance at January 1, 2018 $ 1,280 $ 27 $ 1,307 Net change (4,157) 88 (4,069) Reclassification of tax effects related to the adoption of ASU 2018-02 (1) : Current (293) 17 (276) Deferred 569 (11) 558 Balance at January 1, 2019 (2,601) 121 (2,480) Net change 9,013 (200) 8,813 Balance at December 31, 2019 6,412 (79) 6,333 Net change 19,794 (478) 19,316 Balance at December 31, 2020 $ 26,206 $ (557) $ 25,649 ____________________________ (1) During the first quarter of 2018, the Company adopted ASU 2018-02. The ASU was issued by the FASB in February 2018, to address the issue of other comprehensive income or loss that became stranded in AOCI as a result of the re-measurement of an entity's deferred income tax assets and liabilities following the reduction of the U.S. federal corporate tax rate from 35% to 21% pursuant to the enactment of the Tax Cuts and Jobs Act in December 2017. The Company also had certain current tax amounts stranded in AOCI that resulted from a tax accounting election to tax net gains and losses on AFS securities and cash flow hedges as current items beginning in 2016. The Company reclassifies the taxes from AOCI to earnings as the individual securities and hedges are realized. Due to the change in corporate tax rates, the Company had certain net gains and losses taxed at the 35% rate reflected in AOCI. As these transactions are realized over time, they will flow through income tax expense at the 21% rate. Rather than adjusting income tax expense for the difference as each of these securities and instruments are realized, the Company elected to adjust the difference (stranded tax effect) to retained earnings, consistent with the treatment of the deferred tax adjustment.

Capital and Regulatory Matters

Capital and Regulatory Matters12 Months Ended
Dec. 31, 2020
Banking Regulation [Abstract]
Capital and Regulatory MattersNote 17 - Capital and Regulatory Matters The Company (on a consolidated basis) and the Bank are subject to various regulatory capital requirements administered by federal and state banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company's consolidated financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company and the Bank must meet specific capital guidelines that involve quantitative measures of assets, liabilities and certain off-balance sheet items as calculated under regulatory accounting practices. The capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings and other factors. The Company is subject to the Basel III regulatory capital framework ("Basel III Capital Rules"), which includes a 2.5% capital conservation buffer effective for the Company as of January 1, 2019. The capital conservation buffer is designed to absorb losses during periods of economic stress and requires increased capital levels for the purpose of capital distributions and other payments. Failure to meet the full amount of the buffer will result in restrictions on the Company's ability to make capital distributions, which includes dividend payments and stock repurchases and to pay discretionary bonuses to executive officers. Quantitative measures established by regulation to ensure capital adequacy require the Company and the Bank to maintain minimum amounts and ratios (set forth in the table below) of total, common equity Tier 1 capital, Tier 1 capital, Tier 1 capital, and total capital (as defined in the regulations) to risk-weighted assets (as defined), and of Tier 1 capital (as defined) to average assets (as defined). Management believes, at December 31, 2020 and 2019, that the Company and the Bank met all capital adequacy requirements to which they are subject, including the capital buffer requirement. At December 31, 2020 and 2019, the Bank's capital ratios exceeded those levels necessary to be categorized as "well capitalized" under the regulatory framework for prompt corrective action. To be categorized as "well capitalized," the Bank must maintain minimum total risk based, common equity Tier 1 capital, Tier 1 risk based and Tier 1 leverage ratios as set forth in the table below. A final rule adopted by the federal banking agencies in February 2019 provides banking organizations with the option to phase in, over a three-year period, the adverse day-one regulatory capital effects of the adoption of CECL. In addition, on March 27, 2020, the federal banking agencies issued an interim final rule that gives banking organizations that implement CECL before the end of 2020 the option to delay for two years CECL’s adverse effects on regulatory capital. Origin elected to adopt CECL in the first quarter of 2020 and exercised the option to delay the estimated impact of the adoption of CECL on our regulatory capital for two years (from January 2020 through December 31, 2021), which resulted in a 19 basis point benefit to the common equity Tier 1 capital to risk-weighted assets capital ratio at December 31, 2020. The two-year delay will be followed by the three-year transition period of CECL's initial impact on our regulatory capital (from January 1, 2022 through December 31, 2024). The actual capital amounts and ratios of the Company and Bank at December 31, 2020 and 2019, are presented in the following table: (Dollars in thousands) December 31, 2020 Actual Minimum Capital Required - Basel III To be Well Capitalized Under Prompt Corrective Action Provisions Common Equity Tier 1 Capital to Risk-Weighted Assets Amount Ratio Amount Ratio Amount Ratio Origin Bancorp, Inc. $ 604,306 9.95 % $ 425,012 7.00 % N/A N/A Origin Bank 637,863 10.53 424,010 7.00 $ 393,724 6.50 % Tier 1 Capital to Risk-Weighted Assets Origin Bancorp, Inc. 613,682 10.11 516,107 8.50 N/A N/A Origin Bank 637,863 10.53 514,870 8.50 484,583 8.00 Total Capital to Risk-Weighted Assets Origin Bancorp, Inc. 837,058 13.79 637,539 10.50 N/A N/A Origin Bank 782,503 12.92 636,019 10.50 605,732 10.00 Leverage Ratio Origin Bancorp, Inc. 613,682 8.62 284,771 4.00 N/A N/A Origin Bank 637,863 8.99 283,842 4.00 354,802 5.00 December 31, 2019 Common Equity Tier 1 Capital to Risk-Weighted Assets Origin Bancorp, Inc. 561,630 11.74 334,785 7.00 N/A N/A Origin Bank 551,060 11.55 333,924 7.00 310,072 6.50 Tier 1 Capital to Risk-Weighted Assets Origin Bancorp, Inc. 570,975 11.94 406,524 8.50 N/A N/A Origin Bank 551,060 11.55 405,479 8.50 381,627 8.00 Total Capital to Risk-Weighted Assets Origin Bancorp, Inc. 610,305 12.76 502,175 10.50 N/A N/A Origin Bank 590,390 12.38 500,888 10.50 477,037 10.00 Leverage Ratio Origin Bancorp, Inc. 570,975 10.91 209,298 4.00 N/A N/A Origin Bank 551,060 10.56 208,774 4.00 260,968 5.00 In the ordinary course of business, the Company depends on dividends from the Bank to provide funds for the payment of dividends to stockholders and to provide for other cash requirements. Banking regulations may limit the amount of dividends that may be paid. Approval by regulatory authorities is required if the effect of dividends declared would cause the regulatory capital of the Bank to fall below specified minimum levels. Approval is also required if dividends declared and paid exceed the Bank's year-to-date net income combined with the retained net income for the preceding year, which was $60.8 million at December 31, 2020. Stock Repurchases In three transactions in March 2020, the Company repurchased a total of 30,868 shares of its common stock pursuant to its stock buyback program at an average price per share of $23.44 for an aggregate purchase price of $723,000. Prior to 2020, the Company had repurchased cumulatively $10.1 million of shares under the stock buyback program, and as of December 31, 2020, the Company's board of directors has approved approximately $29.2 million remaining shares to be purchased under the program.

Commitments and Contingencies

Commitments and Contingencies12 Months Ended
Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and ContingenciesNote 18 - Commitments and Contingencies Credit Related Commitments In the normal course of business, the Company enters into financial instruments, such as commitments to extend credit and letters of credit, to meet the financing needs of its customers. Such instruments are not reflected in the accompanying consolidated financial statements until they are funded, although they expose the Company to varying degrees of credit risk and interest rate risk in much the same way as funded loans. Commitments to extend credit include revolving commercial credit lines, nonrevolving loan commitments issued mainly to finance the acquisition and development or construction of real property or equipment, and credit card and personal credit lines. The availability of funds under commercial credit lines and loan commitments generally depends on whether the borrower continues to meet credit standards established in the underlying contract and has not violated other contractual conditions. Loan commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee by the borrower. Credit card and personal credit lines are generally subject to cancellation if the borrower's credit quality deteriorates. A number of commercial and personal credit lines are used only partially or, in some cases, not at all before they expire, and the total commitment amounts do not necessarily represent future cash requirements of the Company. A substantial majority of the letters of credit are standby agreements that obligate the Company to fulfill a customer's financial commitments to a third party if the customer is unable to perform. The Company issues standby letters of credit primarily to provide credit enhancement to its customers' other commercial or public financing arrangements and to help them demonstrate financial capacity to vendors of essential goods and services. The contract amounts of these instruments reflect the Company's exposure to credit risk. The Company undertakes the same credit evaluation in making loan commitments and assuming conditional obligations as it does for on-balance sheet instruments and may require collateral or other credit support. These off-balance sheet financial instruments are summarized below: December 31, (Dollars in thousands) 2020 2019 Commitments to extend credit $ 1,341,501 $ 1,374,055 Standby letters of credit 42,911 39,344 In addition to the above, the Company guarantees the credit card debt of certain customers to the merchant bank that issues the credit cards. These guarantees are in place for as long as the guaranteed credit card is open. At December 31, 2020 and 2019, these credit card guarantees totaled $200,000 and $489,000, respectively. This amount represents the maximum potential amount of future payments under the guarantee for which the Company would be responsible in the event of customer non-payment. At December 31, 2020, the Company held 35 unfunded letters of credit from the FHLB totaling $527.4 million with expiration dates ranging from January 20, 2021, to November 4, 2022. At December 31, 2019, the Company held 21 unfunded letters of credit from the FHLB totaling $241.3 million with expiration dates ranging from January 15, 2020, to February 25, 2021. Management establishes an asset-specific allowance for certain lending-related commitments and computes a formula-based allowance for performing consumer and commercial lending-related commitments. These are computed using a methodology similar to that used for the commercial loan portfolio, modified for expected maturities and probabilities of drawdown. The reserve for lending-related commitments was $2.3 million and $1.8 million at December 31, 2020 and 2019, respectively, and is included in other liabilities in the accompanying consolidated balance sheets. Loss Contingencies From time to time the Company is also party to various legal actions arising in the ordinary course of business. At this time, management does not expect that loss contingencies, if any, arising from any such proceedings, either individually or in the aggregate, would have a material adverse effect on the consolidated financial position or liquidity of the Company.

Related Party Transactions

Related Party Transactions12 Months Ended
Dec. 31, 2020
Related Party Transactions [Abstract]
Related Party TransactionsNote 19 - Related Party Transactions Loans to executive officers, directors, and their affiliates at December 31, 2020 and 2019, were as follows: (Dollars in thousands) 2020 2019 Balance, beginning of year $ 1,093 $ 1,328 Advances 1,092 450 Principal repayments (793) (495) Effect of changes in composition of related parties — (190) Balance, end of year $ 1,392 $ 1,093 Commitments to extend credit $ 2,702 $ 2,212 None of the above loans were considered non-performing or potential problem loans. These loans were made in the ordinary course of business and on substantially the same terms, including interest rates and collateral, as those prevailing at the time for comparable transactions with other unaffiliated persons and do not involve more than normal risk of collectability. Deposits from related parties held by the Company at December 31, 2020 and 2019, amounted to $30.4 million and $27.0 million, respectively.

Condensed Parent Company Only F

Condensed Parent Company Only Financial Statements12 Months Ended
Dec. 31, 2020
Condensed Financial Information Disclosure [Abstract]
Condensed Parent Company Only Financial StatementsNote 20 - Condensed Parent Company Only Financial Statements Financial statements of Origin Bancorp, Inc. (parent company only) are as follows: (Dollars in thousands) December 31, Condensed Balance Sheets 2020 2019 Assets Cash and cash equivalents $ 42,908 $ 5,909 Investment in affiliates/subsidiaries 684,410 593,079 Other assets 10,198 10,531 Total assets $ 737,516 $ 609,519 Liabilities and Stockholders' Equity Subordinated debentures, net $ 88,258 $ 9,671 Accrued expenses and other liabilities 2,108 586 Total liabilities 90,366 10,257 Stockholders' Equity Common stock 117,532 117,405 Additional paid‑in capital 237,341 235,623 Retained earnings 266,628 239,901 Accumulated other comprehensive income 25,649 6,333 Total stockholders' equity 647,150 599,262 Total liabilities and stockholders' equity $ 737,516 $ 609,519 (Dollars in thousands) Years Ended December 31, Condensed Statements of Income 2020 2019 2018 Income: Dividends from subsidiaries $ 17,250 $ 17,500 $ 4,500 Other 12 470 2,052 Total income 17,262 17,970 6,552 Expenses: Interest expense 1,333 563 553 Salaries and employee benefits 214 728 658 Other 1,182 1,565 1,462 Total expenses 2,729 2,856 2,673 Income before income taxes and equity in undistributed net income of subsidiaries 14,533 15,114 3,879 Income tax benefit 549 502 84 Income before equity in undistributed net income of subsidiaries 15,082 15,616 3,963 Equity in undistributed net income of subsidiaries 21,275 38,266 47,642 Net income $ 36,357 $ 53,882 $ 51,605 (Dollars in thousands) Years Ended December 31, Condensed Statements of Cash Flows 2020 2019 2018 Cash flows from operating activities: Net income $ 36,357 $ 53,882 $ 51,605 Adjustments to reconcile net income to net cash provided by operating activities: Deferred income taxes (1) 9 9 Equity in undistributed net income of subsidiaries (21,275) (38,266) (47,642) Amortization of subordinated debentures discount 58 28 25 Other, net 3,633 130 (2,187) Net cash provided by operating activities 18,772 15,783 1,810 Cash flows from investing activities: Capital contributed to subsidiaries (51,000) — (45,794) Net purchases of non-marketable equity securities held in other financial institutions — — (2,213) Net cash used in investing activities (51,000) — (48,007) Cash flows from financing activities: Dividends paid (8,854) (5,863) (5,941) Taxes paid related to net share settlement of equity awards — — (23) Cash received on exercise of stock options 248 166 559 Proceeds from issuance of subordinated debentures 78,556 — — Proceeds from issuance of common stock — — 95,178 Payment to repurchase preferred stock — — (48,260) Payment to repurchase common stock (723) (10,059) — Net cash provided by (used by) financing activities 69,227 (15,756) 41,513 Net increase (decrease) in cash and cash equivalents 36,999 27 (4,684) Cash and cash equivalents at beginning of year 5,909 5,882 10,566 Cash and cash equivalents at end of year $ 42,908 $ 5,909 $ 5,882

Summary of Quarterly Financial

Summary of Quarterly Financial Statements (Unaudited)12 Months Ended
Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract]
Summary of Quarterly Financial Statements (Unaudited)Note 21 - Summary of Quarterly Financial Statements (Unaudited) The following tables present selected unaudited data from the Company's condensed consolidated quarterly statements of income for the quarterly periods within the years ended December 31, 2020 and 2019: Quarters Ended - 2020 (Dollars in thousands) December 31 September 30 June 30 March 31 Total interest income $ 59,422 $ 58,800 $ 55,464 $ 55,016 Total interest expense 7,603 8,183 9,174 12,206 Net interest income 51,819 50,617 46,290 42,810 Provision for credit losses 6,333 13,633 21,403 18,531 Net interest income after provision for credit losses 45,486 36,984 24,887 24,279 Non-interest income, exclusive of gain on sales of securities, net 15,156 17,750 19,076 12,090 Gain on sales of securities, net 225 301 — 54 Non-interest expense 38,884 38,734 38,220 36,097 Income before income taxes 21,983 16,301 5,743 326 Income tax expense 4,431 3,206 786 (427) Net income $ 17,552 $ 13,095 $ 4,957 $ 753 Basic earnings per common share (1) $ 0.75 $ 0.56 $ 0.21 $ 0.03 Diluted earnings per common share (1) 0.75 0.56 0.21 0.03 ____________________________ (1) Due to the combined impact of the repurchase of common stock on the quarterly average common shares outstanding calculation compared to the impact of the repurchase of common stock on the year-to-date average common shares outstanding calculation, and the effect of rounding, the sum of the quarterly earnings per common share will not equal the year-to-date earnings per common share amount. Quarters Ended - 2019 (Dollars in thousands) December 31 September 30 June 30 March 31 Total interest income $ 56,719 $ 58,806 $ 57,063 $ 54,494 Total interest expense 12,624 14,184 14,094 12,468 Net interest income 44,095 44,622 42,969 42,026 Provision for credit losses 2,377 4,201 1,985 1,005 Net interest income after provision for credit losses 41,718 40,421 40,984 41,021 Non-interest income, exclusive of gain on sales of securities, net 10,818 12,860 11,176 11,604 Gain on sales of securities, net — 20 — — Non-interest expense 36,534 35,064 37,095 35,381 Income before income taxes 16,002 18,237 15,065 17,244 Income tax expense 3,175 3,620 2,782 3,089 Net income 12,827 14,617 12,283 14,155 Basic earnings per common share (1) $ 0.55 $ 0.62 $ 0.52 $ 0.60 Diluted earnings per common share (1) 0.55 0.62 0.52 0.60 ____________________________ (1) Due to the combined impact of the repurchase of common stock on the quarterly average common shares outstanding calculation compared to the impact of the repurchase of common stock on the year-to-date average common shares outstanding calculation, and the effect of rounding, the sum of the quarterly earnings per common share will not equal the year-to-date earnings per common share amount.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)12 Months Ended
Dec. 31, 2020
Accounting Policies [Abstract]
Basis of PresentationBasis of Presentation . The consolidated financial statements include the accounts of the Company and all other entities in which Origin Bancorp, Inc. has a controlling financial interest, including the Bank and Davison Insurance Agency, LLC ("Davison Insurance"), doing business as Thomas & Farr Agency, and Reeves, Coon and Funderburg ("RCF"). All significant intercompany balances and transactions have been eliminated in consolidation. The Company's accounting and financial reporting policies conform, in all material respects, to accounting principles generally accepted in the United States ("U.S. GAAP") and to general practices within the financial services industry. The Company has evaluated subsequent events for potential recognition and/or disclosure through the date these consolidated financial statements were issued.
ReclassificationsReclassifications . Certain amounts previously reported have been reclassified to conform to the current presentation. Such reclassifications had no effect on prior year net income or stockholders' equity.
Variable Interest EntitiesVariable Interest Entities . The Company determines whether it has a controlling financial interest in an entity by first evaluating whether the entity is a voting interest entity or a variable interest entity ("VIE") under U.S. GAAP. Voting interest entities are entities in which the total equity investment at risk is sufficient to enable the entity to finance itself independently and provides the equity holders with the obligation to absorb losses, the right to receive residual returns and the right to make decisions about the entity's activities. The Company consolidates voting interest entities in which it has all, or at least a majority of, the voting interest. As defined in applicable accounting standards, VIEs are entities that lack one or more of the characteristics of a voting interest entity. A controlling financial interest in a VIE is present when an enterprise has both the power to direct the activities of the VIE that most significantly impact the VIE's economic performance and an obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE. The enterprise with a controlling financial interest, known as the primary beneficiary, consolidates the VIE. The Company's wholly owned subsidiaries CTB Statutory Trust I and First Louisiana Statutory Trust I are VIEs for which the Company is not the primary beneficiary. Accordingly, the accounts of these trusts are not included in the Company's consolidated financial statements.
Operating SegmentsOperating Segments . Operating segments are components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision-maker in deciding how to allocate resources and in assessing performance. The Bank is the only significant subsidiary upon which management makes decisions regarding how to allocate resources and assess performance. Individual bank branches offer a group of similar services, including commercial, real estate and consumer loans, time deposits, checking and savings accounts, all with similar operating and economic characteristics. While the chief operating decision-maker monitors the revenue streams of the various products and services, operations are managed and financial performance is evaluated on a Company-wide basis. Accordingly, all of the community banking services and branch locations are considered by management to be aggregated into one reportable operating segment, community banking.
Use of EstimatesUse of Estimates . The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions based on available information that affect the amounts reported in the financial statements and disclosures provided, including the accompanying notes, and actual results could differ. Material estimates that are particularly susceptible to change include the allowance for credit losses for loans and available for sale securities; fair value measurements of assets and liabilities; and income taxes. Estimates and assumptions are reviewed periodically and the effects of revisions are reflected in the Company's consolidated financial statements in the period they are deemed necessary. While management uses its best judgment, actual results could differ from those estimates.
Cash and Cash EquivalentsCash and Cash Equivalents . For purposes of the statement of cash flows, the Company considers all cash on hand, demand deposits with other banks, federal funds sold and short term interest-bearing cash items with an original maturity less than 90 days to be cash equivalents. The Company maintains deposits with other financial institutions in amounts that exceed federal deposit insurance coverage. Furthermore, federal funds sold are essentially uncollateralized loans to other financial institutions. Management regularly evaluates the credit risk associated with the counterparties to these transactions and believes that the Company is not exposed to any significant credit risks on cash and cash equivalents.
SecuritiesSecurities . The Company accounts for debt and equity securities as follows: Available for Sale ("AFS") - Debt securities that will be held for indefinite periods of time, including securities that may be sold in response to changes in market interest or prepayment rates, needs for liquidity and changes in the availability of and the yield of alternative investments are classified as AFS. These assets are carried at fair value. Fair value is determined using published quotes. If quoted market prices are not available, fair values are based on other methods including, but not limited to the discounting of cash flows. Unrealized gains and losses on AFS securities are excluded from earnings and reported net of tax in accumulated other comprehensive income until realized. Please see the paragraphs under Allowance for Credit Losses referenced below in this footnote for information on the allowance for credit losses pertaining to AFS securities. Held to Maturity ("HTM") - Debt securities that management has the positive intent and ability to hold until maturity are classified as HTM and are carried at their remaining unpaid principal balance, net of unamortized premiums or unaccredited discounts. Please see the paragraphs under Allowance for Credit Losses referenced below in this footnote for information pertaining to the allowance for credit losses pertaining to HTM securities. Securities Carried at Fair Value through Income - Debt securities for which the Company has elected the fair value option for accounting are classified as securities carried at fair value through income. Management has elected the fair value option for these items to offset the corresponding change in fair value of related interest rate swap agreements. Fair value is determined using discounted cash flows and credit quality indicators. Changes in fair value are reported through the consolidated statements of income as a part of other noninterest income. Interest income on securities includes amortization of purchase premiums and discounts. Premiums and discounts on securities are generally amortized using the interest method with a constant effective yield without anticipating prepayments, except for mortgage-backed securities where prepayments are anticipated. Premiums on callable securities are amortized to their earliest call date. A security is placed on nonaccrual status if (i) principal or interest has been in default for a period of 90 days or more or (ii) full payment of principal and interest is not expected. Interest accrued but not received for a security placed on nonaccrual status is reversed against interest income. Gains and losses on sales are recorded on the trade date, are derived from the amortized cost of the security sold and are determined using the specific identification method. Prior to the adoption of ASU 2016-13, declines in the fair value of held-to-maturity and available-for-sale securities below their cost that were deemed to be other than temporary were reflected in earnings as realized losses. In estimating other-than-temporary impairment losses prior to January 1, 2020, management considered, among other things, (i) the length of time and the extent to which the fair value had been less than cost, (ii) the financial condition and near-term prospects of the issuer and (iii) the intent and our ability to retain our investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value.
Non-marketable Equity Securities Held in Other Financial InstitutionsNon-marketable Equity Securities Held in Other Financial Institutions .
Loans Held For SaleLoans Held for Sale . Loans held for sale include mortgage loans and are carried at fair value, with unrealized gains and losses recorded in the consolidated statements of income. Forward commitments to sell mortgage loans are acquired to reduce market risk on mortgage loans in the process of origination and mortgage loans held for sale. The forward commitments acquired by the Company for mortgage loans in process of origination are mandatory forward commitments, and the Company is required to substitute another loan or to buy back the commitment if the original loan does not fund. Typically, the Company delivers the mortgage loans within a few days after the loans are funded. These commitments are derivative instruments carried at fair value.
LoansLoans . Loans that management has the intent and ability to hold for the foreseeable future, or until maturity or payoff, are reported at their outstanding unpaid principal balances adjusted for charge-offs, the allowance for credit losses, and any deferred fees or costs on originated loans. Interest income is accrued on the unpaid principal balance. Loan origination fees, and certain direct origination costs, are deferred and amortized as a yield adjustment over the lives of the related loans using the interest method. Late fees are recognized as income when earned, assuming collectability is reasonably assured. The Company has elected the fair value option on a small portion of its LHFI, with changes in fair value recorded in noninterest income. For these loans, the earned current contractual interest payment is recognized in interest income. Loan origination costs and fees are recognized in earnings as incurred and not deferred. Because these loans are recognized at fair value, the Company's allowance for credit losses policy does not apply to these loans. Fair value is determined using discounted cash flows and credit quality indicators. In addition to loans issued in the normal course of business, the Company considers overdrafts on customer deposit accounts to be loans and classifies these overdrafts as loans in its consolidated balance sheets. Loans are placed on nonaccrual status when management believes that the borrower's financial condition, after giving consideration to economic and business conditions and collection efforts, is such that collection of interest is doubtful, or generally when loans are 90 days or more past due. When accrual of interest is discontinued, all unpaid accrued interest is reversed. Past due status is based on contractual terms of the loan. Interest income on nonaccrual loans may be recognized to the extent cash payments are received, but payments received are usually applied to principal. Nonaccrual loans are generally returned to accrual status when principal and interest payments are less than 90 days past due, the customer has made required payments for at least six months, and the Company reasonably expects to collect all principal and interest.
Allowance for Loan LossesAllowance for Credit Losses . The allowance for loan credit losses represents the estimated losses for financial assets accounted for on an amortized cost basis. Expected losses are calculated using relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. The Company evaluates loans held for investment ("LHFI") on a pool basis with pools of loans characterized by loan type, collateral, industry, internal credit risk rating and Fair Isaac Corporation ("FICO") score. The Company applied a probability of default, loss given default loss methodology to the loan pools at January 1 and December 31, 2020. Historical loss rates for each pool are calculated based on charge-off and recovery data beginning with the second quarter of 2012. These loss rates are adjusted for differences between current period conditions, including the ongoing effects of COVID-19 on the U.S. economy, and the conditions existing during the historical loss period. Historical losses are additionally adjusted for the effects of certain economic variables forecast over a one-year period. Subsequent to the forecast effects, historical loss rates are used to estimate losses over the estimated remaining lives of the loans. The estimated remaining lives consist of the contractual lives, adjusted for estimated prepayments. Loans that exhibit characteristics different from their pool characteristics are evaluated on an individual basis. Certain of these loans are considered to be collateral dependent with the borrower experiencing financial difficulty. For these loans, the fair value of collateral practical expedient is elected whereby the allowance is calculated as the amount by which the amortized cost exceeds the fair value of collateral, less costs to sell (if applicable). Those individual loans that are not collateral dependent are evaluated based on a discounted cash flow methodology. This evaluation is inherently subjective as it requires estimates that are susceptible to significant revision as more information becomes available. Loans are charged off against the allowance for credit losses when management believes the loss is confirmed. Subsequent recoveries, if any, are credited to the allowance. Prior to the adoption of ASU 2016-13, the allowance for credit losses on loans was established through a provision for loan losses charged to expense, which represented management’s best estimate of inherent losses that had been incurred within the existing portfolio of loans. The allowance for credit losses on loans included allowance allocations calculated in accordance with ASC Topic 310, “Receivables” and allowance allocations calculated in accordance with ASC Topic 450, “Contingencies.” Delinquency statistics are updated at least monthly and are the most meaningful indicator of the credit quality of one-to-four single family residential, home equity loans and lines of credit and other consumer loans. Internal risk ratings are considered the most meaningful indicator of credit quality for commercial and industrial, construction, and commercial real estate loans. Internal risk ratings are a key factor in identifying loans that are individually evaluated for impairment and impact management's estimates of loss factors used in determining the amount of the allowance for credit losses. Internal risk ratings are updated on a regular basis. Prior to the adoption of ASC 326 on January 1, 2020, loans were reported as impaired when, based on then current information and events, it was probable that the Company would be unable to collect all amounts due in accordance with the original contractual terms of the loan agreement, including scheduled principal and interest payments. Impairment was evaluated in total for smaller-balance loans of a similar nature and on an individual loan basis for other loans. If a loan was impaired, a specific valuation allowance was allocated, if necessary, so that the loan was reported net, at the present value of estimated future cash flows using the loan’s existing rate or at the fair value of collateral if repayment was expected solely from the collateral. Interest payments on impaired loans were typically applied to principal unless collectibility of the principal amount was reasonably assured, in which case interest was recognized on a cash basis. Impaired loans, or portions thereof, were charged off when deemed uncollectible. Troubled debt restructurings ("TDRs") are loans for which the contractual terms on the loan have been modified and both of the following conditions exist: (1) the borrower is experiencing financial difficulty and (2) the restructuring constitutes a concession. Concessions could include a reduction in the interest rate on the loan, payment extensions, forgiveness of principal, forbearance or other actions intended to maximize collection. The Company assesses all loan modifications to determine whether they constitute a TDR. Certain borrowers are currently unable to meet their contractual payment obligations because of the adverse effects of COVID-19. To help mitigate these effects, loan customers may apply for a deferral of payments, or portions thereof, for up to 90 days. The CARES Act and related guidance from the federal banking agencies provide financial institutions the option to temporarily suspend requirements under GAAP related to classification of certain loan modifications as TDRs to account for the current and anticipated effects of COVID-19. The CARES Act, as amended by the Consolidated Appropriations Act, 2021, specified that COVID-19 related loan modifications executed between March 1, 2020 and the earlier of (i) 60 days after the date of termination of the national emergency declared by the President and (ii) January 1, 2022, on loans that were current as of December 31, 2019 are not TDRs. Additionally, under guidance from the federal banking agencies, other short-term modifications made on a good faith in response to COVID-19 to borrowers that were current prior to any relief are not TDRs under ASC Subtopic 310-40, “Troubled Debt Restructuring by Creditors.” These modifications include short-term (e.g., up to six months) modifications such as payment deferrals, fee waivers, extensions of repayment terms, or delays in payment that are insignificant. At December 31, 2020, the Company had 49 loans totaling $97.7 million under COVID-19 related forbearance agreements. The allowance for off-balance sheet exposures was determined using the same methodology that is applied to LHFI. Utilization rates are determined based on historical usage. Credit losses related to available for sale debt securities are recorded through an allowance for credit losses. The amount of the allowance for credit losses is limited to the amount by which fair value is below amortized cost. Discounted cash flow analysis is required for determining credit losses for available for sale securities. In determining whether or not a credit loss exists, such factors as extent of the loss, adverse conditions related to the entity, industry or geographic region, security structure, ratings and changes by a rating agency and past performance are considered. The length of time a security has been in an unrealized loss position is not a factor in determining whether a credit loss exists. The allowance for credit losses for held-to-maturity securities is calculated using a probability of default, loss given default methodology. Credit losses are estimated over the lives of the securities using historical loss rates, adjusted for current conditions and reasonable and supportable forecasts. Third party data is used for the historical loss rates and probability of default statistics. Additionally, the Company uses a weighted average of three possible economic scenarios derived from third party data which is used to calculate the forecast effect. The forecast effect is applied over the estimated lives of the securities.
Premises and Equipment, netPremises and Equipment, net . Land is carried at cost. Buildings and improvements are stated at cost less accumulated depreciation computed using the straight-line method over the estimated useful lives of the assets, which range from 35 to 39 years. Furniture, fixtures, and equipment are stated at cost less accumulated depreciation computed using the straight-line method over the estimated useful lives of the assets, which range from three
LeasesLeases. The Company adopted ASU No. 2016-02 — Leases (Topic 842) as of January 1, 2019, and recorded a $19.7 million right-of-use ("ROU") asset offset by a $19.4 million lease liability, recognizing a net after tax $321,000 cumulative effect adjustment credit to retained earnings. The Company elected the package of practical expedients, which among other things, does not require reassessment of lease classification. The Company determines if an arrangement is a lease at inception. Operating lease assets are included in accrued interest receivable and other assets, operating lease liabilities are included in accrued expenses and other liabilities in the Company's consolidated balance sheets. The Company has made an accounting policy election not to recognize short-term lease assets and liabilities (less than a 12-month term) or immaterial equipment and server space leases in its balance sheets; instead, the Company recognizes the lease expense for these leases on a straight-line basis over the life of the lease. The Company has no material finance leases. ROU assets represent the Company's right to use an underlying asset for the lease term and lease liabilities represent the Company's obligation to make lease payments arising from the lease. ROU lease assets and liabilities are recognized at the lease commencement date based on the estimated present value of lease payments over the lease term. The Company uses an estimated incremental collateralized borrowing rate, which is derived from information available at the lease commencement date and gives consideration to the applicable FHLB borrowing rates, when determining the present value of lease payments. The Company's lease terms include options to extend a lease when it is reasonably certain that the Company will exercise that option. The Company's lease agreements do not contain any residual value guarantees. All of the Company's operating long-term leases are real estate leases, which are accounted for as a single lease component.
Mortgage Servicing Rights and Transfers of Financial AssetsMortgage Servicing Rights and Transfers of Financial Assets . Gains or losses on "servicing-retained" loan sale transactions generally include a component reflecting the differential between the contractual interest rate of the loan and the interest rate to be received by the investor. The present value of the estimated future profit for servicing the loans is also taken into account in determining the amount of gain or loss on the sale of these loans. For loans sold servicing-retained, the fair value of mortgage servicing rights is recorded as an asset, with their value estimated using a discounted cash flow methodology to arrive at the present value of future expected earnings from the servicing of the loans. Significant model inputs include prepayment speeds, discount rates, and servicing costs. Servicing revenues are based on a contractual percentage of the outstanding principal or a fixed amount per loan and are recorded as income when earned. Loans sold into the secondary market are considered transfers of financial assets. These transfers are accounted for as sales when control over the asset has been surrendered, which is deemed to have occurred when: an asset does not have any claims to it by the transferor or their creditors, including in bankruptcy or other receivership situations; the transferee obtains the unconditional right to pledge or exchange the asset; or the transfer does not include a repurchase provision above the limited recourse provisions of these loan sales. GNMA optional repurchase programs allow financial institutions to buy back individual delinquent mortgage loans that meet certain criteria from the securitized loan pool for which the institution provides servicing. At the servicer's option and without GNMA's prior authorization, the servicer may repurchase a delinquent loan for an amount equal to 100% of the remaining principal balance of the loan. This buy-back option is considered a conditional option until the delinquency criteria are met, at which time the option becomes unconditional. When a financial institution is deemed to have regained effective control over these loans under the unconditional buy-back option, the loans can no longer be reported as sold and must be included in the balance sheet as mortgage loans held for sale, regardless of whether the institution intends to exercise the buy-back option. These loans were recorded as mortgage loans held for sale, at the lower of cost or fair value with a corresponding liability in FHLB advances and other borrowings on the Company's consolidated balance sheets.
Derivative Instruments and Hedging ActivitiesDerivative Instruments and Hedging Activities . Risk Management Objective of Using Derivatives The Company enters into derivative financial instruments to manage risks related to differences in the amount, timing, and duration of the Company's known or expected cash receipts and its known or expected cash payments, as well as to manage changes in fair values of some assets which are marked at fair value through the consolidated statement of income on a recurring basis. Cash Flow Hedges of Interest Rate Risk The Company is a party to an interest rate swap agreement under which the Company receives interest at a variable rate and pays at a fixed rate. The derivative instrument represented by this swap agreement is designated as a cash flow hedge of the Company's forecasted variable cash flows under a variable-rate term borrowing agreement. During the term of the swap agreement, the effective portion of changes in the fair value of the derivative instrument are recorded in accumulated other comprehensive income and subsequently reclassified into earnings in the periods that the hedged forecasted variable-rate interest payments affected earnings. There was no ineffective portion of the change in fair value of the derivative recognized directly in earnings. The entire swap fair value will be reclassified into earnings before the expiration date of the swap agreement. Derivatives Not Designated as Hedges Customer interest rate derivative program The Company offers certain derivatives products, primarily interest rate swaps, directly to qualified commercial banking customers to facilitate their risk management strategies. In some instances, the Company acts only as an intermediary, simultaneously entering into offsetting agreements with unrelated financial institutions, thereby mitigating its net risk exposure resulting from such transactions without significantly impacting its results of operations. Because the interest rate derivatives associated with this program do not meet hedge accounting requirements, changes in the fair value of both the customer derivatives and any offsetting derivatives are recognized directly in earnings as a component of noninterest income. From time to time, the Company shares in credit risk on interest rate swap arrangements, by entering into risk participation agreements with syndication partners. These are accounted for at fair value and disclosed as risk participation derivatives. Mortgage banking derivatives The Company enters into certain derivative agreements as part of its mortgage banking and related risk management activities. These agreements include interest rate lock commitments on prospective residential mortgage loans and forward commitments to sell these loans to investors on a mandatory delivery basis. The Company also economically hedges the value of MSRs by entering into a series of commitments to purchase mortgage-backed securities in the future.
Goodwill and Other Intangible AssetsGoodwill and Other Intangible Assets . Goodwill, which represents the excess of cost over the fair value of the net assets of an acquired business, is not amortized but tested for impairment on an annual basis, which is typically October 1 for the Company, or more often if events or circumstances indicate that there may be impairment. Because of the volatile market conditions during which the Company's market value fell below book value, the Company performed a qualitative assessment of whether it was more likely than not that the fair value was less than carrying value during each quarter of 2020 including a goodwill impairment assessment performed by a third party valuation specialist during the second quarter of 2020. Based on these assessments, it was determined that the Company's fair value exceeded carrying value and no goodwill impairment was recorded during 2020. Other intangible assets, such as relationship based intangibles and core deposit intangibles, are amortized on a basis consistent with the receipt of economic benefit to us. Such assets are evaluated at least annually as to the recoverability of their carrying value for potential impairment. In the quarter following the period in which identified intangible assets become fully amortized, the fully amortized balances are removed from the gross asset and accumulated amortization amounts.
Other Real Estate OwnedOther Real Estate Owned .
Overnight Repurchase Agreements with DepositorsOvernight Repurchase Agreements with Depositors . The Company enters into agreements under which it sells securities subject to an obligation to repurchase the same or similar securities. Under these arrangements, the Company may transfer legal control over the assets but still retain effective control through an agreement that both entitles and obligates it to repurchase the assets. Securities sold under agreements to repurchase generally mature on the banking day following that on which the investment was initially sold and are treated as collateralized financing transactions which are recorded at the amounts at which the securities were sold plus accrued interest. Interest rates and maturity dates of the securities involved vary and are not intended to be matched with funds from customers.
Revenue RecognitionRevenue Recognition . In general, for revenue not associated with financial instruments, guarantees and lease contracts, the Company applies the following steps when recognizing revenue from contracts with customers: (i) identify the contract, (ii) identify the performance obligations, (iii) determine the transaction price, (iv) allocate the transaction price to the performance obligations and (v) recognize revenue when a performance obligation is satisfied. Our contracts with customers are generally short term in nature, typically due within one year or less or cancellable by us or our customer upon a short notice period. Performance obligations for our customer contracts are generally satisfied at a single point in time, typically when the transaction is complete, or over time. Descriptions of the Company's revenue generating activities that are within the scope of Topic 606 are described below. Service charges and fees on deposit accounts Service charges and fees on deposit accounts are primarily comprised of maintenance fees, service fees, stop payment and insufficient funds fees. The Company's performance obligation for service fees or other fees covering a period of time are generally satisfied, and related revenue recognized, over the period in which the service is provided. The Company's performance obligations for transactional-based fees are generally satisfied, and related revenue recognized, at a point in time. Insurance commission and fee income The Company earns commission income through production on behalf of insurance carriers and also earns fee income by providing complementary services such as collection of premiums. In most instances the Company considers the performance obligation to be complete at the time the service was rendered. Credit card interchange income The Company records credit card interchange income at a point in time as card transactions occur. The Company's performance obligation for these transactions is deemed to have occurred upon completion of each transaction. The amounts are included as a component of other income in the consolidated statements of income. Gain or loss on sale of other assets and OREO In the normal course of business, the Company recognizes the sale on other assets and OREO, along with any gain or loss, when control of the property transfers to the buyer through an executed contractual agreement. The transaction price is fixed, and on occasion the Company will finance a portion of the purchase price of the transferred asset.
Mortgage Banking RevenueMortgage Banking Revenue . This revenue category primarily reflects the Company's mortgage production, sales and mortgage servicing revenue, including fees and income derived from mortgages originated with the intent to sell; mortgage sales and servicing; and the impact of risk management activities associated with the mortgage pipeline and mortgage servicing rights ("MSRs"). This revenue category also includes gains and losses on sales and changes in fair value for mortgage loans originated with the intent to sell and measured at fair value under the fair value option. Changes in the fair value of MSRs are reported in mortgage banking revenue. Net interest income from mortgage loans is recorded in interest income.
Income TaxesIncome Taxes . Income tax expense is the total of the current year income tax due or refundable and the change in deferred tax assets and liabilities. Deferred tax assets and liabilities are the expected future tax amounts for the temporary differences between carrying amounts and tax bases of assets and liabilities, computed using enacted tax rates. A valuation allowance, if needed, reduces deferred tax assets to the amount expected to be realized. A tax position is recognized as a benefit only if it is "more likely than not" that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the "more likely than not" test, no tax benefit is recorded. The Company did not have any amount accrued with respect to uncertainty in income taxes at December 31, 2020 and 2019.
Stock-Based CompensationStock-Based Compensation .
Other InvestmentsOther Investments . The Company accounts for investments in limited partnerships, limited liability companies ("LLCs"), and other privately held companies using either the equity method of accounting or at amortized cost net of impairments and observable price changes. The accounting treatment depends upon the Company's percentage ownership or degree of management influence. Under the equity method of accounting, the Company records its initial investment at cost. Subsequently, the carrying amount of the investment is increased or decreased to reflect its share of income or loss of the investee. The Company's recognition of earnings or losses from an equity method investment is based on its ownership percentage in the investee and the investee's earnings for the reporting period, and is recorded on a one-quarter lag. All of the Company's investments in limited partnerships, LLCs, and other companies are privately held, and their fair values are not readily available. Management evaluates the investments in investees for impairment based on the investee's ability to generate cash through its operations or obtain alternative financing, and other subjective factors. There are inherent risks associated with investments in such companies, which may result in volatility in the consolidated statements of income in future periods.
Investments in Tax Credit EntitiesInvestments in Tax Credit Entities . As part of its Community Reinvestment Act responsibilities and due to their favorable economic characteristics, the Company invests in tax credit-motivated projects primarily in the markets it serves. These projects are directed at tax credits issued under Low-Income Housing Tax Credits. The Company generates returns on tax credit motivated projects through the receipt of federal, and if applicable, state tax credits. The federal tax credits are recorded as an offset to the income tax provision in the year that they are earned under federal income tax law – over 10 to 15 years beginning in the year in which rental activity commences. These credits, if not used in the tax return for the year of origination, can be carried forward for 20 years. The Company invests in a tax credit entity, usually an LLC, which owns the real estate. The Company receives a nonvoting interest in the entity that must be retained during the compliance period for the credits (15 years for Low-Income Housing Tax Credit programs). Control of the tax credit entity rests in the 0.1% interest general partner, who has the power and authority to make decisions that impact economic performance of the project and is required to oversee and manage the project. Due to the lack of any voting, economic, or managerial control, and due to the contractual reduction in the investment, the Company accounts for its investment by amortizing the investment, beginning at the issuance of the certificate of occupancy of the project, over the compliance period, as management believes any potential residual value in the real estate will have limited value. Amortization is included as a component of income tax expense.
Earnings Per ShareEarnings Per Share . Basic and diluted earnings per common share for the years ended December 31, 2020 and 2019, are calculated using the treasury method. Under the treasury method, basic earnings per share is calculated as net income divided by the weighted average number of common shares outstanding during the period. Diluted earnings per share includes the dilutive effect of additional potential common shares issuable under stock options and restricted stock awards. Basic and diluted earnings per common share for year ended December 31, 2018, was calculated using the two-class method. The two-class method is an earnings allocation formula that determines earnings per share for each share of common stock and participating securities according to dividends declared (distributed earnings) and participation rights in undistributed earnings. Distributed and undistributed earnings were allocated between common and participating security stockholders based on their respective rights to receive dividends. Share-based payment awards that contain nonforfeitable rights to dividends or dividend equivalents were considered participating securities (e.g., restricted stock grants). Preferred stock that receives dividends based on dividends paid on common stock was also considered a participating security (e.g., Series D preferred stock). Net income attributable to common stockholders was then divided by the weighted average number of common shares outstanding during the period, net of participating securities.
Effect of Recently Adopted Accounting Standards and Effect of Newly Issued But Not Yet Effective Accounting StandardsEffect of Recently Adopted Accounting Standards ASU No. 2019-10, Financial Instruments —Credit Losses (Topic 326), the impact of this ASU alleviates step 2 of the goodwill impairment test. Implementation of this ASU became effective for the Company on January 1, 2020, and did not materially impact the consolidated financial statements or disclosures. ASU No. 2018-15, Intangibles, Goodwill and Other, Internal Use Software - (Topic 350-40): Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). Accordingly, the amendments require an entity (customer) in a hosting arrangement that is a service contract to follow the guidance in Subtopic 350-40 to determine which implementation costs to capitalize as an asset related to the service contract and which costs to expense. The amendments also require the entity (customer) to expense the capitalized implementation costs of a hosting arrangement that is a service contract over the term of the hosting arrangement, which includes reasonably certain renewals. For public business entities that file reports with the Securities and Exchange Commission ("SEC"), the amendments in the update are effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years, early adoption is permitted. The Company prospectively adopted ASU 2018-15 effective October 1, 2018. As a result of this implementation, capitalized costs relating to internal use software totaled $455,000 at December 31, 2018, and are expensed over the useful life of the contract rather than expensed as incurred. The asset is reflected on the consolidated balance sheets in accrued interest receivable and other assets and the related amortization expense is reflected in data processing expense on the consolidated statements of income. ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments; ASU No. 2018-19, Codification Improvements to Topic 326, Financial Instruments - Credit Losses; ASU 2019-04, Codification Improvements to Topic 326, Financial Instruments - Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments; ASU 2019-05, Financial Instruments - Credit Losses (Topic 326): Targeted Transition Relief; ASU 2019-11, Codification Improvements to Topic 326, Financial Instruments - Credit Losses; collectively, the "ASUs". These ASUs introduce and amend ASC Topic 326, Financial Instruments - Credit Losses and amend guidance on reporting credit losses for assets held at amortized cost basis and available for sale debt securities. For assets held at amortized cost basis, Topic 326 eliminates the current incurred loss approach and, instead, requires an entity to reflect its current estimate of all expected credit losses. The allowance for credit losses is a valuation account that is deducted from the amortized cost basis of the financial assets to present the net amount expected to be collected. This guidance also changes the accounting for purchased loans and securities with credit deterioration. Topic 326 also applies to off-balance sheet exposures such as unfunded loan commitments, letters of credit and other financial guarantees. Expected credit losses related to off-balance sheet exposures will be presented as a liability rather than as an allowance. Please see the paragraphs under Allowance for Credit Losses referenced above in this footnote for additional information on the determination of the allowance for credit losses as required by these ASUs. The Company made the following policy elections related to the adoption of the guidance in Topic 326: • Accrued interest will be written off against interest income when financial assets are placed into nonaccrual status. Therefore, accrued interest will be excluded from the amortized cost basis for purposes of calculating the allowance for credit losses. Accrued interest receivable is presented with other assets in a separate line item in the consolidated balance sheet. • The fair value of collateral practical expedient has been elected on certain loans, in determining the allowance for credit losses, for which the repayment is expected to be provided substantially through the operation or sale of the collateral when the borrower is experiencing financial difficulty. • For credit loss estimates calculated using a discounted cash flow approach, the entire change in present value is reported in credit loss expense rather than being attributed to interest income. The adoption of ASC Topic 326 was recorded on it's original effective date as a cumulative effect adjustment to retained earnings at January 1, 2020, and is shown below. (Dollars in thousands) December 31, 2019 Balance Transition Adjustment January 1, 2020 LHFI: Loans secured by real estate: Commercial real estate $ 10,013 $ (5,052) $ 4,961 Construction/land/land development 3,711 1,141 4,852 Residential real estate 6,332 (2,526) 3,806 Total real estate 20,056 (6,437) 13,619 Commercial and industrial 16,960 7,296 24,256 Mortgage warehouse lines of credit 262 29 291 Consumer 242 360 602 Total allowance for loan credit losses $ 37,520 $ 1,248 $ 38,768 Reserve for off-balance sheet exposures $ 1,810 $ (381) $ 1,429 Held-to-Maturity Securities: Municipal securities $ — $ 96 $ 96 ASU No. 2018-13, Fair Value Measurement - (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement modifies the disclosure requirements on fair value measurements in Topic 820. The amendments in this update remove disclosures that no longer are considered cost beneficial, modify/clarify the specific requirements of certain disclosures, and add disclosure requirements identified as relevant. ASU 2018-13 became effective for us on January 1, 2020, and did not have a significant impact on our financial statements. Effect of Newly Issued But Not Yet Effective Accounting Standards ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes. ASU 2019-12 simplifies the accounting for income taxes by eliminating some exceptions to the general approach in Accounting Standards Codification (ASC) 740, Income Taxes. It also clarifies certain aspects of the existing guidance to promote more consistent application, among other things. The amendments in the update are effective for fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. Implementation of this ASU is not expected to materially impact the consolidated financial statements or disclosures.
Fair Value of Financial InstrumentsFair value is the exchange price that is expected to be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Certain assets and liabilities are recorded in the Company's consolidated financial statements at fair value. Some are recorded on a recurring basis and some on a non-recurring basis. The Company utilizes fair value measurement to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. The determination of fair values of financial instruments often requires the use of estimates. In cases where quoted market values in an active market are not available, the Company utilizes valuation techniques that are consistent with the market approach, the income approach and/or the cost approach to estimate the fair values of its financial instruments. Such valuation techniques are consistently applied. A hierarchy for fair value has been established which categorizes the valuation techniques into three levels used to measure fair value. The three levels are as follows: Level 1 - Fair value is based on unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 - Fair value is based on significant other observable inputs that are generally determined based on a single price for each financial instrument provided to the Company by an unrelated third-party pricing service and is based on one or more of the following: • Quoted prices for similar, but not identical, assets or liabilities in active markets; • Quoted prices for identical or similar assets or liabilities in markets that are not active; • Inputs other than quoted prices that are observable, such as interest rate and yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates; • Other inputs derived from or corroborated by observable market inputs. Level 3 - Prices or valuation techniques that require inputs that are both significant and unobservable in the market. These instruments are valued using the best information available, some of which is internally developed, and reflects the Company's own assumptions about the risk premiums that market participants would generally require and the assumptions they would use. Securities Available for Sale Securities classified as available for sale are reported at fair value utilizing Level 1, Level 2 or Level 3 inputs. For Level 2 securities, the Company obtains fair value measurements from an independent pricing service. The fair value measurements consider observable data that may include dealer quotes, market spreads, cash flows, the U.S. Treasury yield curve, live trading levels, market consensus prepayment speeds, credit information and the security's terms and conditions, among other things. In order to ensure the fair values are consistent with Accounting Standards Codification ("ASC") 820, Fair Value Measurements and Disclosures , the Company periodically checks the fair value by comparing them to another pricing source, such as Bloomberg LP. The third-party pricing service is subject to an annual review of internal controls in accordance with the Statement on Standards for Attestation Engagements No. 16, which was made available to the Company. In certain cases where Level 2 inputs are not available, securities are classified within Level 3 of the hierarchy. Derivatives Fair values for interest rate swap agreements are based upon the amounts that would be required to settle the contracts. Fair values for derivative loan commitments and forward loan sale commitments are based on fair values of the underlying mortgage loans and the probability of such commitments being exercised. Significant management judgment and estimation is required in determining these fair value measurements. Fair Values of Assets Recorded on a Recurring Basis for which the Fair Value Option has been Elected Certain assets are measured at fair value on a recurring basis due to the Company's election to adopt fair value accounting treatment for those assets. This election allows for a more effective offset of the changes in fair values of the assets and the derivative instruments used to economically hedge them without the burden of complying with the requirements for hedge accounting under ASC 815, Derivatives and Hedging. The following methodologies were used to measure the fair value of financial assets valued on a recurring basis for which the fair value option was elected: Securities at Fair Value through Income Securities carried at fair value through income are valued using a discounted cash flow with a credit spread applied to each instrument based on the credit worthiness of each issuer. Credit spreads ranged from 83 to 227 basis points at both December 31, 2020 and 2019. The Company believes the fair value approximates an exit price. Loans Held for Sale Fair values for loans held for sale are established using anticipated sale prices for loans allocated to a sale commitment, and those unallocated to a commitment are valued based on the interest rate and term for similar loans allocated. The Company believes the fair value approximates an exit price. LHFI For LHFI for which the fair value option has been elected, fair values are calculated using a discounted cash flow model with inputs including observable interest rate curves and unobservable credit adjustment spreads based on credit risk inherent in the loan. Credit spreads ranged from 290 to 413 basis points at both December 31, 2020 and 2019. The Company believes the fair value approximates an exit price. Fair Value of Assets Recorded on a Nonrecurring Basis Equity Securities without Readily Determinable Fair Values Equity securities without readily determinable fair values totaled $62.6 million and $39.8 million, at December 31, 2020 and 2019, respectively, and are shown on the face of the consolidated balance sheets. The majority of the Company's equity investments qualify for the practical expedient allowed for equity securities without a readily determinable fair value, such that the Company has elected to carry these securities at cost adjusted for any observable transactions during the period, less any impairment. To date, no impairment has been recorded on the Company's investments in equity securities that do not have readily determinable fair values. Government National Mortgage Association Repurchase Asset The Company recorded $55.5 million and $27.9 million, respectively, at December 31, 2020 and 2019, for Government National Mortgage Association ("GNMA") repurchase assets included in mortgage loans held for sale on the consolidated balance sheets. The assets are valued at the lower of cost or market and, where market is lower than cost, valued using anticipated sale prices for loans allocated to a sale commitment, and those unallocated to a commitment are valued based on the interest rate and term for similar loans allocated. The Company believes the fair value approximates an exit price. Please see Note 9 - Mortgage Banking for more information on the GNMA repurchase asset. Collateral Dependent Loans with Credit Losses Loans for which it is probable that the Company will not collect all principal and interest due according to contractual terms are measured to determine if any credit loss exists. Allowable methods for determining the amount of credit loss includes estimating the fair value using the fair value of the collateral for collateral-dependent loans. If the loan is identified as collateral-dependent, the fair value method of measuring the amount of credit loss is utilized. This method requires obtaining a current independent appraisal of the collateral and applying a discount factor to the value. Loans that have experienced a credit loss that are collateral-dependent are classified within Level 3 of the fair value hierarchy when the credit loss is determined using the fair value method. The fair value of loans that have experienced a credit loss with specific allocated losses was approximately $12.3 million and $1.9 million at December 31, 2020, and December 31, 2019, respectively. Non-Financial Assets

Significant Accounting Polici_3

Significant Accounting Policies (Tables)12 Months Ended
Dec. 31, 2020
Accounting Policies [Abstract]
Adjustment Recorded as a Result of the Adoption of ASC Topic 326The adoption of ASC Topic 326 was recorded on it's original effective date as a cumulative effect adjustment to retained earnings at January 1, 2020, and is shown below. (Dollars in thousands) December 31, 2019 Balance Transition Adjustment January 1, 2020 LHFI: Loans secured by real estate: Commercial real estate $ 10,013 $ (5,052) $ 4,961 Construction/land/land development 3,711 1,141 4,852 Residential real estate 6,332 (2,526) 3,806 Total real estate 20,056 (6,437) 13,619 Commercial and industrial 16,960 7,296 24,256 Mortgage warehouse lines of credit 262 29 291 Consumer 242 360 602 Total allowance for loan credit losses $ 37,520 $ 1,248 $ 38,768 Reserve for off-balance sheet exposures $ 1,810 $ (381) $ 1,429 Held-to-Maturity Securities: Municipal securities $ — $ 96 $ 96

Earnings Per Share (Tables)

Earnings Per Share (Tables)12 Months Ended
Dec. 31, 2020
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted(Dollars in thousands, except per share amounts) Years Ended December 31, Basic earnings per common share 2020 2019 2018 Net income $ 36,357 $ 53,882 $ 51,605 Less: Dividends to preferred stock (1) — — 1,923 Net income allocated to participating stockholders (1) (2) — — 1,029 Net income available to common stockholders (3) $ 36,357 $ 53,882 $ 48,653 Weighted average common shares outstanding 23,367,221 23,470,746 21,995,990 Basic earnings per common share (4) $ 1.56 $ 2.30 $ 2.21 Diluted earnings per common share Diluted earnings applicable to common stockholders (3) $ 36,357 $ 53,882 $ 48,819 Weighted average diluted common shares outstanding: Weighted average common shares outstanding 23,367,221 23,470,746 21,995,990 Dilutive effect of common stock options 144,731 203,319 198,439 Weighted average diluted common shares outstanding 23,511,952 23,674,065 22,194,429 Diluted earnings per common share $ 1.55 $ 2.28 $ 2.20 ____________________________ (1) Participating stockholders include those that hold certain share-based payment awards that contain nonforfeitable rights to dividends or dividend equivalents. Such shares or units are considered participating securities (i.e., nonvested restricted stock grants). Additionally, for period prior to June 30, 2018, Series D preferred stockholders were participating stockholders as those shares participate in dividends with common shares on a one for one basis. Net income allocated to participating stockholders does not include dividends paid to preferred stockholders. (2) The average participating share count for the calculation of earnings per share for the year ended December 31, 2018, includes an allocation for Series D preferred stockholders, which were converted to common stock during the quarter ended June 30, 2018. (3) Net income available to common stockholders for basic and diluted earnings per share may differ under the two-class method as a result of adding common stock equivalents for options to dilutive shares outstanding, which alters the ratio used to allocate earnings to common stockholders and participating securities for the purposes of calculating diluted earnings per share. (4) Due to the combined impact of the repurchase of common stock on the quarterly average common shares outstanding calculation compared to the impact of the repurchase of common stock on the year-to-date average common shares outstanding calculation, and the effect of rounding, the sum of the quarterly earnings per common share may not equal the year-to-date earnings per common share amount.

Securities (Tables)

Securities (Tables)12 Months Ended
Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Summary of Amortized Cost and Estimated Fair Value of SecuritiesThe following table is a summary of the amortized cost and estimated fair value, including gross unrealized gains and losses, of available for sale, held to maturity and securities carried at fair value through income for the dates indicated: (Dollars in thousands) December 31, 2020 Amortized Gross Gross Fair Allowance for Credit Losses Net Carrying Amount Available for sale: State and municipal securities $ 420,559 $ 21,884 $ (258) $ 442,185 $ — $ 442,185 Corporate bonds 64,313 1,762 (137) 65,938 — 65,938 U.S. government and agency securities 851 3 (5) 849 — 849 Commercial mortgage-backed securities 10,814 266 — 11,080 — 11,080 Residential mortgage-backed securities 207,742 7,441 (232) 214,951 — 214,951 Residential collateralized mortgage obligations 193,865 1,739 (261) 195,343 — 195,343 Asset-backed securities 73,451 877 — 74,328 — 74,328 Total $ 971,595 $ 33,972 $ (893) $ 1,004,674 $ — $ 1,004,674 Held to maturity: State and municipal securities $ 38,194 $ 3,011 $ — $ 41,205 $ (66) $ 38,128 Securities carried at fair value through income: State and municipal securities (1) $ 10,618 $ — $ — $ 11,554 $ — $ 11,554 December 31, 2019 Available for sale: State and municipal securities $ 96,180 $ 3,039 $ (35) $ 99,184 $ — $ 99,184 Corporate bonds 16,037 780 — 16,817 — 16,817 U.S. government and agency securities 5,063 183 (8) 5,238 — 5,238 Commercial mortgage-backed securities 11,882 262 — 12,144 — 12,144 Residential mortgage-backed securities 204,650 3,105 (249) 207,506 — 207,506 Commercial collateralized mortgage obligations 4,321 73 — 4,394 — 4,394 Residential collateralized mortgage obligations 154,925 1,186 (324) 155,787 — 155,787 Total $ 493,058 $ 8,628 $ (616) $ 501,070 $ — $ 501,070 Held to maturity: State and municipal securities $ 28,620 $ 903 $ — $ 29,523 $ — $ 28,620 Securities carried at fair value through income: State and municipal securities (1) $ 11,070 $ — $ — $ 11,513 $ — $ 11,513 ____________________________ (1) Securities carried at fair value through income have no unrealized gains or losses at the balance sheet date as all changes in value have been recognized in the consolidated statements of income. See Note 5 - Fair Value of Financial Instruments for more information.
Schedule of Securities with Unrealized LossSecurities with unrealized losses at December 31, 2020 and 2019, aggregated by investment category and those individual securities that have been in a continuous unrealized loss position for less than 12 months, and for 12 months or more, were as follows. (Dollars in thousands) Less than 12 Months 12 Months or More Total December 31, 2020 Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss Available for sale: State and municipal securities $ 21,979 $ (258) $ — $ — $ 21,979 $ (258) Corporate bonds 30,513 (137) — — 30,513 (137) U.S. government and agency securities — — 568 (5) 568 (5) Residential mortgage-backed securities 23,178 (232) — — 23,178 (232) Residential collateralized mortgage obligations 43,911 (261) — — 43,911 (261) Total $ 119,581 $ (888) $ 568 $ (5) $ 120,149 $ (893) Held to maturity: State and municipal securities $ — $ — $ — $ — $ — $ — December 31, 2019 Available for sale: State and municipal securities $ 6,996 $ (35) $ — $ — $ 6,996 $ (35) Corporate bonds — — — — — — U.S. government and agency securities — — 663 (8) 663 (8) Residential mortgage-backed securities 29,184 (151) 14,917 (98) 44,101 (249) Residential collateralized mortgage obligations 20,266 (118) 24,275 (206) 44,541 (324) Total $ 56,446 $ (304) $ 39,855 $ (312) $ 96,301 $ (616) Held to maturity: State and municipal securities $ — $ — $ — $ — $ — $ —
Schedule of Allowance for Credit Losses for Held -to -Maturity SecuritiesThe following table presents the activity in the allowance for credit losses for held-to-maturity debt securities. (Dollars in thousands) Municipal Securities Allowance for credit losses: Year Ended December 31,2020 Balance at January 1, 2020 $ — Impact of adopting ASC 326 96 Credit loss benefit (30) Balance at December 31, 2020 $ 66
Proceeds from Sales of Securities Available for Sale and Gross GainsProceeds from sales of securities available for sale and gross gains for the years ended December 31, 2020, 2019 and 2018. December 31, (Dollars in thousands) 2020 2019 2018 Proceeds from sales $ 64,702 $ 27,766 $ 20,877 Gross realized gains 774 161 381 Gross realized losses (194) (141) (389)
Securities Classified by Contractual MaturityThe following table presents the amortized cost and fair value of securities available for sale and held to maturity at December 31, 2020, grouped by contractual maturity. Mortgage-backed securities and collateralized mortgage obligations, which do not have contractual payments due at a single maturity date, are shown separately. Actual maturities for mortgage-backed securities, collateralized mortgage obligations and asset-backed securities will differ from contractual maturities as a result of prepayments made on the underlying mortgages. (Dollars in thousands) Held to Maturity Available for Sale December 31, 2020 Amortized Cost Fair Value Amortized Cost Fair Value Due in one year or less $ 12,999 $ 13,068 $ 3,210 $ 3,237 Due after one year through five years — — 47,500 51,572 Due after five years through ten years 25,195 28,137 111,383 115,206 Due after ten years — — 323,630 338,957 Commercial mortgage-backed securities — — 10,814 11,080 Residential mortgage-backed securities — — 207,742 214,951 Residential collateralized mortgage obligations — — 193,865 195,343 Asset-backed securities — — 73,451 74,328 Total $ 38,194 $ 41,205 $ 971,595 $ 1,004,674
Securities Pledged as CollateralThe following table presents carrying amounts of securities pledged as collateral for deposits and repurchase agreements for the period ends presented. December 31, (Dollars in thousands) 2020 2019 Carrying value of securities pledged to secure public deposits $ 289,537 $ 285,552 Carrying value of securities pledged to repurchase agreements 10,982 20,356

Loans (Tables)

Loans (Tables)12 Months Ended
Dec. 31, 2020
Receivables [Abstract]
Schedule of LoansLoans consist of the following: December 31, (Dollars in thousands) 2020 2019 Loans held for sale $ 191,512 $ 64,837 LHFI: Loans secured by real estate: Commercial real estate $ 1,370,928 $ 1,279,177 Construction/land/land development 531,860 517,688 Residential real estate 885,120 689,555 Total real estate 2,787,908 2,486,420 Commercial and industrial (1) 1,817,862 1,343,475 Mortgage warehouse lines of credit 1,084,001 274,659 Consumer 17,991 20,971 Total loans accounted for at amortized cost 5,707,762 4,125,525 Loans accounted for at fair value 17,011 17,670 Total LHFI (2) 5,724,773 4,143,195 Less: Allowance for loan losses 86,670 37,520 LHFI, net $ 5,638,103 $ 4,105,675 ____________________________ (1) Includes $546.5 million of PPP loans at December 31, 2020. No PPP loans were outstanding at December 31, 2019. (2) Includes net deferred loan fees of $13.7 million and $3.6 million at December 31, 2020, and December 31, 2019, respectively. Origination of PPP loans contributed $9.6 million of the increase in net deferred loan fees during the year.
Recorded Investment in Loans by Credit Quality IndicatorThe following is a summary description of the Company's internal risk ratings: • Pass (1-6) Loans within this risk rating are further categorized as follows: Minimal risk (1) Well-collateralized by cash equivalent instruments held by the Bank. Moderate risk (2) Borrowers with excellent asset quality and liquidity. Borrowers' capitalization and liquidity exceed industry norms. Borrowers in this category have significant levels of liquid assets and have a low level of leverage. Better than average risk (3) Borrowers with strong financial strength and excellent liquidity that consistently demonstrate strong operating performance. Borrowers in this category generally have a sizable net worth that can be converted into liquid assets within 12 months. Average risk (4) Borrowers with sound credit quality and financial performance, including liquidity. Borrowers are supported by sufficient cash flow coverage generated through operations across the full business cycle. Marginally acceptable risk (5) Loans generally meet minimum requirements for an acceptable loan in accordance with lending policy, but possess one or more attributes that cause the overall risk profile to be higher than the majority of newly approved loans. Watch (6) A passing loan with one or more factors that identify a potential weakness in the overall ability of the borrower to repay the loan. These weaknesses are generally mitigated by other factors that reduce the risk of delinquency or loss. • Special Mention (7) This grade is intended to be temporary and includes borrowers whose credit quality have deteriorated and is at risk of further decline. • Substandard (8) This grade includes "Substandard" loans under regulatory guidelines. Substandard loans exhibit a well-defined weakness that jeopardizes debt repayment in accordance with contractual agreements, even though the loan may be performing. These obligations are characterized by the distinct possibility that a loss may be incurred if these weaknesses are not corrected and repayment may be dependent upon collateral liquidation or secondary source of repayment. • Doubtful (9) This grade includes "Doubtful" loans under regulatory guidelines. Such loans are placed on nonaccrual status and repayment may be dependent upon collateral with no readily determinable valuation or valuations that are highly subjective in nature. Repayment for these loans is considered improbable based on currently existing facts and circumstances. • Loss (0) This grade includes "Loss" loans under regulatory guidelines. Loss loans are charged-off or written down when repayment is not expected. In connection with the review of the loan portfolio, the Company considers risk elements attributable to particular loan types or categories in assessing the quality of individual loans. The list of loans to be reviewed for possible individual evaluation consists of nonaccrual commercial loans over $100,000 with direct exposure, unsecured loans over 90 days past due, commercial loans classified substandard or worse over $100,000 with direct exposure, TDRs, consumer loans greater than $100,000 with a FICO score under 625, loans greater than $100,000 in which the borrower has filed bankruptcy, and all loans 180 days or more past due. Loans under $50,000 will be evaluated collectively in designated pools unless a loss exposure has been identified. Some additional risk elements considered by loan type include: • for commercial real estate loans, the debt service coverage ratio, operating results of the owner in the case of owner occupied properties, the loan to value ratio, the age and condition of the collateral and the volatility of income, property value and future operating results typical of properties of that type; • for construction, land and land development loans, the perceived feasibility of the project, including the ability to sell developed lots or improvements constructed for resale or the ability to lease property constructed for lease, the quality and nature of contracts for presale or prelease, if any, experience and ability of the developer and loan to value ratio; • for residential mortgage loans, the borrower's ability to repay the loan, including a consideration of the debt to income ratio and employment and income stability, the loan-to-value ratio, and the age, condition and marketability of the collateral; and • for commercial and industrial loans, the debt service coverage ratio (income from the business in excess of operating expenses compared to loan repayment requirements), the operating results of the commercial, industrial or professional enterprise, the borrower's business, professional and financial ability and expertise, the specific risks and volatility of income and operating results typical for businesses in that category and the value, nature and marketability of collateral. The following table reflects recorded investments in loans by credit quality indicator and origination year at December 31, 2020, excluding loans held for sale and loans accounted for at fair value. The Company had an immaterial amount of revolving loans converted to term loans at December 31, 2020. Term Loans Amortized Cost Basis by Origination Year (Dollars in thousands) 2020 2019 2018 2017 2016 Prior Revolving Loans Amortized Cost Basis Total Commercial real estate: (1) Pass $ 393,317 $ 290,394 $ 312,051 $ 154,445 $ 46,132 $ 106,994 $ 18,419 $ 1,321,752 Special mention 824 113 2,410 20,691 — 1,656 2,145 27,839 Classified 2,806 1,678 6,704 6,586 1,476 1,093 994 21,337 Total commercial real estate loans $ 396,947 $ 292,185 $ 321,165 $ 181,722 $ 47,608 $ 109,743 $ 21,558 $ 1,370,928 Current period gross charge-offs $ — $ — $ — $ 3,622 $ 199 $ 1,103 $ — $ 4,924 Current period gross recoveries — — — — — 19 — 19 Current period net charge-offs $ — $ — $ — $ 3,622 $ 199 $ 1,084 $ — $ 4,905 (1) Excludes $17.0 million of commercial real estate loans at fair value, which are not included in the loss estimation methodology due to the fair value option election. Construction/land/land development: Pass $ 189,311 $ 150,281 $ 138,000 $ 12,907 $ 1,812 $ 1,157 $ 18,892 $ 512,360 Special mention 323 10,421 135 1,003 — — — 11,882 Classified — 1,811 726 1,507 143 168 3,263 7,618 Total construction/land/land development loans $ 189,634 $ 162,513 $ 138,861 $ 15,417 $ 1,955 $ 1,325 $ 22,155 $ 531,860 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — Current period gross recoveries — — — — — 1 — 1 Current period net charge-offs (recoveries) $ — $ — $ — $ — $ — $ (1) $ — $ (1) Residential real estate: Pass $ 367,652 $ 143,368 $ 103,450 $ 102,272 $ 41,522 $ 50,094 $ 53,854 $ 862,212 Special mention 188 — 29 1,875 9,287 803 — 12,182 Classified 1,857 2,403 2,982 511 1,344 1,533 96 10,726 Total residential real estate loans $ 369,697 $ 145,771 $ 106,461 $ 104,658 $ 52,153 $ 52,430 $ 53,950 $ 885,120 Current period gross charge-offs $ 94 $ 271 $ — $ 283 $ — $ 44 $ — $ 692 Current period gross recoveries — — — — — 202 — 202 Current period net charge-offs (recoveries) $ 94 $ 271 $ — $ 283 $ — $ (158) $ — $ 490 Term Loans Amortized Cost Basis by Origination Year (Dollars in thousands) 2020 2019 2018 2017 2016 Prior Revolving Loans Amortized Cost Basis Total Commercial and industrial: Pass $ 851,780 $ 153,722 $ 110,092 $ 29,413 $ 9,927 $ 26,964 $ 511,220 $ 1,693,118 Special mention 4,860 2,059 26,438 423 — 14,843 8,077 56,700 Classified 5,436 12,250 5,859 5,450 5,950 6,707 26,392 68,044 Total commercial and industrial loans $ 862,076 $ 168,031 $ 142,389 $ 35,286 $ 15,877 $ 48,514 $ 545,689 $ 1,817,862 Current period gross charge-offs $ 189 $ 204 $ 87 $ 121 $ 3,228 $ 469 $ 2,404 $ 6,702 Current period gross recoveries — 42 20 81 185 112 582 1,022 Current period net charge-offs $ 189 $ 162 $ 67 $ 40 $ 3,043 $ 357 $ 1,822 $ 5,680 Mortgage Warehouse Lines of Credit: Pass $ — $ — $ — $ — $ — $ — $ 1,084,001 $ 1,084,001 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — Current period gross recoveries — — — — — — — — Current period net charge-offs $ — $ — $ — $ — $ — $ — $ — $ — Consumer: Pass $ 6,702 $ 3,318 $ 1,578 $ 203 $ 116 $ 83 $ 5,935 $ 17,935 Classified 28 8 — — 6 1 13 56 Total consumer loans $ 6,730 $ 3,326 $ 1,578 $ 203 $ 122 $ 84 $ 5,948 $ 17,991 Current period gross charge-offs $ — $ 39 $ 23 $ 8 $ — $ 4 $ 2 $ 76 Current period gross recoveries — — 1 7 5 7 4 24 Current period net charge-offs (recoveries) $ — $ 39 $ 22 $ 1 $ (5) $ (3) $ (2) $ 52 The recorded investment in loans by credit quality indicator at December 31, 2019, excluding loans held for sale, were as follows: December 31, 2019 (Dollars in thousands) Pass Special Mention Substandard Doubtful Loss Total Loans secured by real estate: Commercial real estate $ 1,269,493 $ 12,479 $ 14,875 $ — $ — $ 1,296,847 Construction/land/land development 512,901 149 4,638 — — 517,688 Residential real estate 680,046 1,558 7,951 — — 689,555 Total real estate 2,462,440 14,186 27,464 — — 2,504,090 Commercial and industrial 1,277,564 28,478 37,433 — — 1,343,475 Mortgage warehouse lines of credit 274,659 — — — — 274,659 Consumer 20,808 — 163 — — 20,971 Total LHFI $ 4,035,471 $ 42,664 $ 65,060 $ — $ — $ 4,143,195
Loan Portfolio Aging AnalysisThe following tables present the Company's loan portfolio aging analysis at the dates indicated: December 31, 2020 (Dollars in thousands) 30-59 Days Past Due 60-89 Days Past Due Loans Past Due 90 Days or More Total Past Due Current Loans Total Loans Receivable Accruing Loans 90 or More Days Past Due Loans secured by real estate: Commercial real estate (1) $ 1,072 $ — $ 3,172 $ 4,244 $ 1,383,695 $ 1,387,939 $ — Construction/land/land development 369 1 2,328 2,698 529,162 531,860 — Residential real estate 3,774 134 364 4,272 880,848 885,120 — Total real estate 5,215 135 5,864 11,214 2,793,705 2,804,919 — Commercial and industrial 703 1,097 12,625 14,425 1,803,437 1,817,862 — Mortgage warehouse lines of credit — — — — 1,084,001 1,084,001 — Consumer 113 9 2 124 17,867 17,991 — Total LHFI $ 6,031 $ 1,241 $ 18,491 $ 25,763 $ 5,699,010 $ 5,724,773 $ — ____________________________ (1) Includes $17.0 million of commercial real estate loans at fair value December 31, 2019 (Dollars in thousands) 30-59 Days Past Due 60-89 Days Past Due Loans Past Due 90 Days or More Total Past Due Current Loans Total Loans Receivable Accruing Loans 90 or More Days Past Due Loans secured by real estate: Commercial real estate $ 917 $ — $ 5,891 $ 6,808 $ 1,290,039 $ 1,296,847 $ — Construction/land/land development 3,569 133 56 3,758 513,930 517,688 — Residential real estate 2,174 1,918 913 5,005 684,550 689,555 — Total real estate 6,660 2,051 6,860 15,571 2,488,519 2,504,090 — Commercial and industrial 1,588 1,037 11,545 14,170 1,329,305 1,343,475 — Mortgage warehouse lines of credit — — — — 274,659 274,659 — Consumer 164 35 40 239 20,732 20,971 — Total LHFI $ 8,412 $ 3,123 $ 18,445 $ 29,980 $ 4,113,215 $ 4,143,195 $ — ____________________________ (1) Includes $17.7 million of commercial real estate loans at fair value
Allowance for Loan Losses by Portfolio SegmentThe following tables detail activity in the allowance for loan credit losses by portfolio segment. Accrued interest of $20.3 million was not included in the book value for the purposes of calculating the allowance at December 31, 2020. Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other categories. Year Ended December 31, 2020 (Dollars in thousands) Beginning Balance Impact of Adopting ASC 326 Charge-offs Recoveries Provision (1) Ending Balance Loans secured by real estate: Commercial real estate $ 10,013 $ (5,052) $ 4,924 $ 19 $ 15,374 $ 15,430 Construction/land/land development 3,711 1,141 — 1 3,338 8,191 Residential real estate 6,332 (2,526) 692 202 6,102 9,418 Commercial and industrial 16,960 7,296 6,702 1,022 33,281 51,857 Mortgage warehouse lines of credit 262 29 — — 565 856 Consumer 242 360 76 24 368 918 Total $ 37,520 $ 1,248 $ 12,394 $ 1,268 $ 59,028 $ 86,670 ____________________________ (1) The $59.9 million provision for credit losses on the consolidated statements of income includes a $59.0 million net loan loss provision, a $902,000 provision for off-balance sheet commitments and a $30,000 release of provision for held to maturity credit loss for the year ended December 31, 2020. Year Ended December 31, 2019 (Dollars in thousands) Beginning Balance Charge-offs Recoveries Provision (Benefit) (1) Ending Balance Loans secured by real estate: Commercial real estate $ 8,999 $ 1,420 $ 341 $ 2,093 $ 10,013 Construction/land/land development 3,331 38 40 378 3,711 Residential real estate 5,705 265 185 707 6,332 Commercial and industrial 15,616 8,231 3,627 5,948 16,960 Mortgage warehouse lines of credit 316 29 — (25) 262 Consumer 236 148 48 106 242 Total $ 34,203 $ 10,131 $ 4,241 $ 9,207 $ 37,520 ____________________________ (1) The $9.6 million provision for credit losses on the consolidated statements of income includes a $9.2 million net loan loss provision and a $361,000 provision for off-balance sheet commitments for the year ended December 31, 2019. Year Ended December 31, 2018 (Dollars in thousands) Beginning Balance Charge-offs Recoveries Provision (Benefit) (1) Ending Balance Loans secured by real estate: Commercial real estate $ 8,998 $ 1,300 $ 226 $ 1,075 $ 8,999 Construction/land/land development 2,950 228 6 603 3,331 Residential real estate 5,807 407 133 172 5,705 Commercial and industrial 18,831 5,068 2,206 (353) 15,616 Mortgage warehouse lines of credit 214 — — 102 316 Consumer 283 121 92 (18) 236 Total $ 37,083 $ 7,124 $ 2,663 $ 1,581 $ 34,203 ____________________________ (1) The $1.0 million provision for credit losses on the consolidated statements of income includes a $1.6 million loan loss provision and a $567,000 release of provision for off-balance sheet commitments for the year ended December 31, 2018. The following table shows the recorded investment in loans by loss estimation methodology at December 31, 2020. December 31, 2020 Collectively Evaluated Individually Evaluated (Dollars in thousands) Probability of Default Fair Value of Collateral Discounted Cash Flow Total Loans secured by real estate: Commercial real estate (1) $ 1,365,284 $ 3,173 $ 2,471 $ 1,370,928 Construction/land/land development 528,894 2,621 345 531,860 Residential real estate 879,015 2,009 4,096 885,120 Commercial and industrial 1,804,049 3,152 10,661 1,817,862 Mortgage warehouse lines of credit 1,084,001 — — 1,084,001 Consumer 17,991 — — 17,991 Total $ 5,679,234 $ 10,955 $ 17,573 $ 5,707,762 ____________________________ (1) Excludes $17.0 million of commercial real estate loans at fair value, which are not included in the loss estimation methodology due to the fair value option election. The following table shows the allowance for loan credit losses by loss estimation methodology at December 31, 2020. December 31, 2020 Collectively Evaluated Individually Evaluated (Dollars in thousands) Probability of Default Fair Value of Collateral Discounted Cash Flow Total Loans secured by real estate: Commercial real estate $ 14,896 $ 525 $ 9 $ 15,430 Construction/land/land development 8,062 128 1 8,191 Residential real estate 8,983 — 435 9,418 Commercial and industrial 44,714 1,707 5,436 51,857 Mortgage warehouse lines of credit 856 — — 856 Consumer 918 — — 918 Total $ 78,429 $ 2,360 $ 5,881 $ 86,670
Loans Receivable by Method of Impairment EvaluationThe following tables present the balance of loans receivable by method of impairment evaluation at the dates indicated: December 31, 2019 (Dollars in thousands) Loans secured by real estate: Period End Allowance Allocated to Loans Individually Evaluated for Impairment Period End Allowance Allocated to Loans Collectively Evaluated for Impairment Period End Loan Balance Individually Evaluated for Impairment Period End Loan Balance Collectively Evaluated for Impairment (1) Commercial real estate $ 3 $ 10,010 $ 7,446 $ 1,271,731 Construction/land/land development 3 3,708 4,329 513,359 Residential real estate 21 6,311 4,937 684,618 Commercial and industrial 168 16,792 15,662 1,327,813 Mortgage warehouse lines of credit — 262 — 274,659 Consumer 4 238 100 20,871 Total $ 199 $ 37,321 $ 32,474 $ 4,093,051 ____________________________ (1) Excludes $17.7 million of commercial real estate loans at fair value, which are not evaluated for impairment due to the fair value option election. See Note 5 - Fair Value of Financial Instruments for more information.
Impaired LoansThe following table presents impaired loans at the dates indicated. No mortgage warehouse lines of credit were impaired at December 31, 2019. December 31, 2019 (Dollars in thousands) Loans secured by real estate: Unpaid Contractual Principal Balance Recorded Investment with no Allowance Recorded Investment with an Allowance Total Recorded Investment Allocation of Allowance for Loan Losses Commercial real estate $ 10,788 $ 7,375 $ 71 $ 7,446 $ 3 Construction/land/land development 4,692 4,256 73 4,329 3 Residential real estate 5,846 4,407 530 4,937 21 Total real estate 21,326 16,038 674 16,712 27 Commercial and industrial 22,857 14,385 1,277 15,662 168 Consumer 110 — 100 100 4 Total impaired loans $ 44,293 $ 30,423 $ 2,051 $ 32,474 $ 199 Note that the Company is not using the collateral maintenance agreement practical expedient. All fair value of collateral is real estate related. Collateral-dependent loans consist primarily of commercial real estate and commercial and industrial loans. These loans are individually evaluated when foreclosure is probable or when the repayment of the loan is expected to be provided substantially through the operation or sale of the underlying collateral. Loan balances are charged down to the underlying collateral value when they are deemed uncollectible.
Non-performing (Nonaccrual) Loans Held for InvestmentNonaccrual LHFI were as follows: December 31, 2020 2019 (Dollars in thousands) Nonaccrual With No Allowance for Credit Loss Nonaccrual Nonaccrual Loans secured by real estate: Commercial real estate $ 1,053 $ 3,704 $ 6,994 Construction/land/land development 1,319 2,962 4,337 Residential real estate 2,436 6,530 5,132 Total real estate 4,808 13,196 16,463 Commercial and industrial 82 12,897 14,520 Consumer — 56 163 Total nonaccrual loans $ 4,890 $ 26,149 $ 31,146
Loans Classified as Troubled Debt Restructurings (TDRs)Loans classified as TDRs, excluding the impact of forbearances granted due to COVID-19, were as follows: (Dollars in thousands) December 31, TDRs 2020 2019 Nonaccrual TDRs $ 5,671 $ 6,609 Performing TDRs 3,314 1,843 Total $ 8,985 $ 8,452 The tables below summarize loans classified as TDR's by loan and concession type. Year Ended December 31, 2020 (Dollars in thousands) Number of Loans Restructured Pre-Modification Recorded Balance Term Concessions Interest Rate Concessions Combination of Term and Rate Concessions Total Modifications Loans secured by real estate: Commercial real estate 2 $ 1,696 $ 1,694 $ — $ — $ 1,694 Residential real estate 5 1,212 — 177 877 1,054 Total real estate 7 2,908 1,694 177 877 2,748 Commercial and industrial 5 217 193 — — 193 Consumer 1 2 — — 2 2 Total 13 $ 3,127 $ 1,887 $ 177 $ 879 $ 2,943 Year Ended December 31, 2019 (Dollars in thousands) Number of Loans Restructured Pre-Modification Recorded Balance Term Concessions Interest Rate Concessions Combination of Term and Rate Concessions Total Modifications Loans secured by real estate: Construction/land/land development 1 $ 361 $ — $ — $ 343 $ 343 Residential real estate 2 2,516 — — 2,410 2,410 Total real estate 3 2,877 — — 2,753 2,753 Commercial and industrial 5 1,314 852 — — 852 Consumer 1 11 9 — — 9 Total 9 $ 4,202 $ 861 $ — $ 2,753 $ 3,614 Year Ended December 31, 2018 (Dollars in thousands) Number of Loans Restructured Pre-Modification Recorded Balance Term Concessions Interest Rate Concessions Combination of Term and Rate Concessions Total Modifications Loans secured by real estate: Commercial real estate 1 $ 252 $ 150 $ — $ — $ 150 Residential real estate 6 428 48 19 331 398 Total real estate 7 680 198 19 331 548 Commercial and industrial 3 198 180 — 14 194 Consumer 1 33 — — 29 29 Total 11 $ 911 $ 378 $ 19 $ 374 $ 771

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)12 Months Ended
Dec. 31, 2020
Fair Value Disclosures [Abstract]
Fair Value of Assets and Liabilities Recorded on a Recurring BasisThe following tables summarize financial assets and financial liabilities recorded at fair value on a recurring basis at December 31, 2020 and 2019, segregated by the level of valuation inputs within the fair value hierarchy utilized to measure fair value. There were no changes in the valuation techniques during 2020 or 2019. December 31, 2020 (Dollars in thousands) Level 1 Level 2 Level 3 Total State and municipal securities $ — $ 398,120 $ 44,065 $ 442,185 Corporate bonds — 65,938 — 65,938 U.S. government agency securities — 849 — 849 Commercial mortgage-backed securities — 11,080 — 11,080 Residential mortgage-backed securities — 214,951 — 214,951 Residential collateralized mortgage obligations — 195,343 — 195,343 Asset-backed securities — 74,328 — 74,328 Securities available for sale — 960,609 44,065 1,004,674 Securities carried at fair value through income — — 11,554 11,554 Loans held for sale — 136,026 — 136,026 Loans at fair value — — 17,011 17,011 Mortgage servicing rights — — 13,660 13,660 Other assets - derivatives — 23,694 — 23,694 Total recurring fair value measurements - assets $ — $ 1,120,329 $ 86,290 $ 1,206,619 Other liabilities - derivatives $ — $ (23,020) $ — $ (23,020) Total recurring fair value measurements - liabilities $ — $ (23,020) $ — $ (23,020) December 31, 2019 (Dollars in thousands) Level 1 Level 2 Level 3 Total State and municipal securities $ — $ 61,011 $ 38,173 $ 99,184 Corporate bonds — 16,817 — 16,817 U.S. government agency securities — 5,238 — 5,238 Commercial mortgage-backed securities — 12,144 — 12,144 Residential mortgage-backed securities — 207,506 — 207,506 Commercial collateralized mortgage obligations — 4,394 — 4,394 Residential collateralized mortgage obligations — 155,787 — 155,787 Securities available for sale — 462,897 38,173 501,070 Securities carried at fair value through income — — 11,513 11,513 Loans held for sale — 36,977 — 36,977 Loans at fair value — — 17,670 17,670 Mortgage servicing rights — — 20,697 20,697 Other assets - derivatives — 9,384 — 9,384 Total recurring fair value measurements - assets $ — $ 509,258 $ 88,053 $ 597,311 Other liabilities - derivatives $ — $ (9,488) $ — $ (9,488) Total recurring fair value measurements - liabilities $ — $ (9,488) $ — $ (9,488)
Changes in Level 3 Assets and Liabilities Measured at Fair Value on a Recurring BasisThe changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the years ended December 31, 2020 and 2019, are summarized as follows: (Dollars in thousands) Loans at Fair Value MSRs Securities Available for Sale Securities at Fair Value Through Income Balance at January 1, 2020 $ 17,670 $ 20,697 $ 38,173 $ 11,513 Gain (loss) recognized in earnings: Mortgage banking revenue (1) — (12,746) — — Other noninterest income (53) — — 493 Gain recognized in AOCI — — 1,575 — Purchases, issuances, sales and settlements: Originations — 5,709 — — Purchases — — 6,478 — Sales — — (140) — Settlements (606) — (2,021) (452) Balance at December 31, 2020 $ 17,011 $ 13,660 $ 44,065 $ 11,554 Balance at January 1, 2019 $ 18,571 $ 25,114 $ 39,361 $ 11,361 Losses recognized in earnings: Mortgage banking revenue (1) — (7,012) — — Other noninterest income 124 — — 586 Loss recognized in AOCI — — 1,673 — Purchases, issuances, sales, and settlements: Originations — 2,595 — — Sales — — (2,861) — Settlements (1,025) — — (434) Balance at December 31, 2019 $ 17,670 $ 20,697 $ 38,173 $ 11,513 ____________________________ (1) Total mortgage banking revenue includes changes in fair value due to market changes and run-off.
Significant Assumptions Used to Value Mortgage Servicing RightsThe significant assumptions used to value MSRs were as follows: December 31, 2020 December 31, 2019 Range Weighted Average (1) Weighted Average (1) Prepayment speeds 11.82% - 37.95% 22.08 % 12.46 % Discount rates 7.83 - 9.09 8.27 9.55 __________________________ (1) The weighted average was calculated with reference to the principle balance of the underlying mortgages.
Difference Between Fair Value and the Unpaid Principal Balance for Financial Instruments for which the Fair Value Option has been Elected and Classification in Income StatementThe following tables summarize the difference between the fair value and the unpaid principal balance for financial instruments for which the fair value option has been elected: December 31, 2020 (Dollars in thousands) Aggregate Fair Value Aggregate Unpaid Principal Balance Difference Loans held for sale (1) $ 136,026 $ 129,955 $ 6,071 Commercial real estate LHFI (2) 17,011 16,760 251 Securities carried at fair value through income 11,554 10,618 936 Total $ 164,591 $ 157,333 $ 7,258 ____________________________ (1) $681,000 of loans held for sale were designated as nonaccrual or 90 days or more past due at December 31, 2020. Of this balance, $473,000 was guaranteed by U.S. Government agencies. (2) There were no commercial real estate loans for which the fair value had been elected that were designated as nonaccrual or 90 days or more past due at December 31, 2020. December 31, 2019 (Dollars in thousands) Aggregate Fair Value Aggregate Unpaid Principal Balance Difference Loans held for sale (1) $ 36,977 $ 36,037 $ 940 Commercial real estate LHFI (2) 17,670 17,366 304 Securities carried at fair value through income 11,513 11,070 443 Total $ 66,160 $ 64,473 $ 1,687 ____________________________ (1) A total of $927,000 of loans held for sale were designated as nonaccrual or 90 days or more past due at December 31, 2019. Of this balance, $709,000 was guaranteed by U.S. Government agencies. (2) There were no commercial real estate loans for which the fair value had been elected that were designated as nonaccrual or 90 days or more past due at December 31, 2019. Changes in the fair value of assets for which the Company elected the fair value option are classified in the consolidated statement of income line items reflected in the following table: (Dollars in thousands) Years Ended December 31, Changes in fair value included in noninterest income: 2020 2019 2018 Mortgage banking revenue $ 5,131 $ 550 $ (163) Other income: Loans at fair value held for investment (53) 124 (389) Securities carried at fair value through income 493 586 (258) Total impact on other income 440 710 (647) Total fair value option impact on noninterest income (1) $ 5,571 $ 1,260 $ (810) ____________________________ (1) The fair value option impact on noninterest income is offset by the derivative gain/loss recognized in noninterest income. Please see Note 9 - Mortgage Banking for more detail.
Carrying Value and Estimated Fair Value of Financial Instruments Not Measured at Fair ValueThe carrying value and estimated fair values of financial instruments not recorded at fair value are as follows: (Dollars in thousands) December 31, Financial assets: 2020 2019 Level 1 inputs: Carrying Estimated Carrying Estimated Cash and cash equivalents $ 377,214 $ 377,214 $ 291,518 $ 291,518 Level 2 inputs: Non-marketable equity securities held in other financial institutions 62,586 62,586 39,808 39,808 Accrued interest and loan fees receivable 27,146 27,146 16,430 16,430 Level 3 inputs: Securities held to maturity 38,128 41,205 28,620 29,523 LHFI, net (1) 5,621,092 5,802,744 4,088,005 3,940,347 Financial liabilities: Level 2 inputs: Deposits 5,751,315 5,756,312 4,228,612 4,081,430 FHLB advances and other borrowings 984,608 991,943 417,190 425,318 Subordinated debentures 157,181 156,395 9,671 10,717 Accrued interest payable 3,556 3,556 2,822 2,822 ____________________________ (1) Does not include loans for which the fair value option had been elected at December 31, 2020 or 2019, as these loans are carried at fair value on a recurring basis.

Premises and Equipment (Tables)

Premises and Equipment (Tables)12 Months Ended
Dec. 31, 2020
Property, Plant and Equipment [Abstract]
Major Classifications of Premises and EquipmentMajor classifications of premises and equipment are summarized below: December 31, (Dollars in thousands) 2020 2019 Land, buildings and improvements $ 85,108 $ 83,161 Furniture, fixtures and equipment 28,599 27,911 Leasehold improvements 16,715 15,790 Construction in process 1,142 407 Total premises and equipment 131,564 127,269 Accumulated depreciation (49,801) (46,812) Premises and equipment, net $ 81,763 $ 80,457

Leases (Tables)

Leases (Tables)12 Months Ended
Dec. 31, 2020
Leases [Abstract]
Balance Sheet DetailsThe balance sheet details and components of the Company's lease expense were as follows: (Dollars in thousands) December 31, 2020 December 31, 2019 Operating lease right of use assets (included in Accrued interest receivable and other assets) $ 21,667 $ 24,013 Operating lease liabilities (included in Accrued expenses and other liabilities) 23,445 25,810 Finance lease liabilities (included in Accrued expenses and other liabilities) 3,148 248 Weighted average remaining lease term (years) - operating leases 9.22 9.58 Weighted average discount rate - operating leases 3.44 % 3.49 %
Components of Lease Expense and Supplemental Cash Flow Related to LeasesYears Ended (Dollars in thousands) December 31, 2020 December 31, 2019 Lease expense: Operating lease expense $ 4,680 $ 4,716 Other lease expense 265 245 Total lease expense $ 4,945 $ 4,961 Right of use assets obtained in exchange for new operating lease liabilities $ 1,338 $ 1,256 Supplemental cash flow related to leases was as follows: Year Ended December 31, 2020 December 31, 2019 Cash paid for operating leases $ 4,791 $ 4,796
Maturities of Operating Lease LiabilitiesMaturities of operating lease liabilities at December 31, 2020, were as follows: December 31, 2020 Year 1 $ 4,330 Year 2 4,064 Year 3 3,638 Year 4 2,584 Year 5 2,040 Year 6 and thereafter 11,165 Total lease payments 27,821 Less: Imputed interest 4,376 Total lease obligations $ 23,445

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)12 Months Ended
Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Components of Goodwill and Other Intangible AssetsThe components of the Company's goodwill and other intangible assets are as follows: (Dollars in thousands) December 31, 2020 Gross Accumulated Amortization Net Goodwill $ 26,741 $ — $ 26,741 Other intangible assets: Core deposit intangibles 1,260 (1,192) 68 Relationship based intangibles 7,304 (3,648) 3,656 Tradename 186 (171) 15 Non-compete 270 (270) — Total $ 35,761 $ (5,281) $ 30,480 December 31, 2019 Goodwill $ 26,741 $ — $ 26,741 Other intangible assets: Core deposit intangibles 1,260 (1,091) 169 Relationship based intangibles 7,304 (2,781) 4,523 Tradename 186 (124) 62 Non-compete 270 (225) 45 Total $ 35,761 $ (4,221) $ 31,540
Estimated Future Amortization Expense for Intangible AssetsEstimated future amortization expense for intangible assets remaining at December 31, 2020, was as follows: (Dollars in thousands) Years Ended December 31, 2021 $ 844 2022 689 2023 582 2024 488 2025 393 Thereafter 743 Total $ 3,739

Mortgage Banking (Tables)

Mortgage Banking (Tables)12 Months Ended
Dec. 31, 2020
Mortgage Banking [Abstract]
Mortgage Banking OperationsThe following table presents the Company's revenue from mortgage banking operations: (Dollars in thousands) Years Ended December 31, Mortgage banking revenue 2020 2019 2018 Origination $ 1,880 $ 1,000 $ 854 Gain on sale of loans held for sale 19,190 6,943 6,403 Servicing 6,116 6,547 7,081 Total gross mortgage revenue 27,186 14,490 14,338 Mortgage HFS and pipeline fair value adjustment 7,351 979 (725) MSR valuation adjustment, net of amortization (12,746) (7,012) (963) MSR hedge impact 7,812 3,852 (3,030) Mortgage banking revenue $ 29,603 $ 12,309 $ 9,620
Schedule of Activity in Mortgages Servicing Rights (MSRs)Activity in MSRs was as follows: Years Ended December 31, (Dollars in thousands) 2020 2019 2018 Balance at beginning of period $ 20,697 $ 25,114 $ 24,182 Addition of servicing rights 5,709 2,595 1,895 Valuation adjustment, net of amortization (12,746) (7,012) (963) Balance at end of period $ 13,660 $ 20,697 $ 25,114

Deposits (Tables)

Deposits (Tables)12 Months Ended
Dec. 31, 2020
Deposits [Abstract]
Summary of Deposit BalancesDeposit balances are summarized as follows: December 31, (Dollars in thousands) 2020 2019 Noninterest-bearing demand $ 1,607,564 $ 1,077,706 Interest bearing demand 1,052,639 776,037 Money market 1,789,914 1,277,053 Brokered 431,180 152,556 Savings 205,252 154,450 Time deposits 664,766 790,810 Total Deposits $ 5,751,315 $ 4,228,612
Maturities of Time DepositsMaturities of time deposits, at December 31, 2020, are as follows: (Dollars in thousands) Years Ended December 31, 2021 $ 497,516 2022 103,156 2023 31,272 2024 25,025 2025 7,797 Total $ 664,766

Borrowings (Tables)

Borrowings (Tables)12 Months Ended
Dec. 31, 2020
Debt Disclosure [Abstract]
Summary of Borrowed FundsBorrowed funds are summarized as follows: December 31, (Dollars in thousands) 2020 2019 Overnight repurchase agreements with depositors $ 8,408 $ 16,717 Short-term FHLB advances 650,000 100,000 GNMA repurchase liability 55,485 27,860 Long-term FHLB advances 270,715 272,613 Total FHLB advances and other borrowings $ 984,608 $ 417,190 Subordinated debentures, net $ 157,181 $ 9,671 Additional details of certain FHLB advances are as follows: (Dollars in thousands) Amount Interest Rate Maturity Date At December 31, 2020: Short-term FHLB advance, fixed rate $ 650,000 0.10 % 1/4/2021 Long-term FHLB advance, callable quarterly, fixed rate 250,000 1.65 8/23/2033 At December 31, 2019: Short-term FHLB advance, fixed rate 100,000 1.35 1/2/2020 Long-term FHLB advance, callable quarterly, fixed rate 250,000 1.65 8/23/2033
Schedule of Maturities of Long-term AdvancesScheduled maturities of long-term advances from the FHLB at December 31, 2020, are as follows: (Dollars in thousands) Years Ended December 31, 2021 $ 1,090 2022 2,404 2023 4,043 2024 3,020 2025 1,641 Thereafter (1) 258,517 Total $ 270,715 __________________________ (1) Includes a FHLB advances totaling $250.0 million callable quarterly with a final maturity in 2033, carrying a rate of 1.65%.
Summary of Terms of Current DebenturesThe following table is a summary of the terms of the current junior subordinated debentures at December 31, 2020: (Dollars in thousands) Issuance Trust Issuance Date Maturity Date Amount Outstanding Rate Type Current Rate Maximum Rate CTB Statutory Trust I 07/2001 07/2031 $ 6,702 Variable (1) 3.51 % 12.50 % First Louisiana Statutory Trust I 09/2006 12/2036 4,124 Variable (2) 2.02 16.00 $ 10,826 ____________________________ (1) The trust preferred securities reprice quarterly based on the three-month LIBOR plus 3.30%, with the last reprice date on October 29, 2020. (2) The trust preferred securities reprice quarterly based on the three-month LIBOR plus 1.80%, with the last reprice date on December 11, 2020.

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)12 Months Ended
Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair Values of Derivative Instruments on the Balance SheetThe following tables disclose the fair value of derivative instruments in the Company's balance sheets at December 31, 2020 and 2019, as well as the effect of these derivative instruments on the Company's consolidated statements of income for the years ended December 31, 2020, 2019 and 2018: Notional Amounts (1) Fair Values (Dollars in thousands) December 31, December 31, Derivatives designated as cash flow hedging instruments: 2020 2019 2020 2019 Interest rate swaps included in other (liabilities) $ 21,000 $ 10,500 $ (706) $ (101) Derivatives not designated as hedging instruments: Interest rate swaps included in other assets $ 326,542 $ 217,633 $ 20,207 $ 8,425 Interest rate swaps included in other liabilities 347,096 246,397 (21,321) (9,278) Risk participation derivative included in accrued expenses and other liabilities on the consolidated balance sheets 63,374 — (18) — Forward commitments to purchase mortgage-backed securities included in other (liabilities) assets 107,000 200,000 (317) 242 Forward commitments to sell residential mortgage loans included in other liabilities 107,200 60,600 (658) (109) Interest rate-lock commitments on residential mortgage loans included in other assets 79,554 37,382 3,487 717 $ 1,030,766 $ 762,012 $ 1,380 $ (3) ____________________________ (1) Notional or contractual amounts, which represent the extent of involvement in the derivatives market, are used to determine the contractual cash flows required in accordance with the terms of the agreement. These amounts are typically not exchanged, significantly exceed amounts subject to credit or market risk and are not reflected in the consolidated balance sheets.
Weighted-average Rates Paid and Received for Interest Rate SwapsThe weighted-average rates paid and received for interest rate swaps at December 31, 2020 and 2019, were as follows: Weighted-Average Interest Rate December 31, 2020 2019 Interest rate swaps: Paid Received Paid Received Cash flow hedges 4.81 % 2.94 % 4.81 % 4.64 % Non-hedging interest rate swaps - financial institution counterparties 4.18 2.48 4.93 4.13 Non-hedging interest rate swaps - customer counterparties 2.52 4.19 4.18 4.93
Gains and Losses Recognized on Derivative Instruments Not Designated as Hedging InstrumentsGains and losses recognized on derivative instruments not designated as hedging instruments are as follows: (Dollars in thousands) Years Ended December 31, Derivatives not designated as hedging instruments: 2020 2019 2018 Amount of gain (loss) recognized in mortgage banking revenue (1) $ 4,081 $ 3,079 $ (2,450) Amount of (loss) gain recognized in other non-interest income (307) (530) 584 ____________________________ (1) Gains and losses on these instruments are largely offset by market fluctuations in mortgage servicing rights. See Note 9 - Mortgage Banking for more information on components of mortgage banking revenue.

Stock and Incentive Compensat_2

Stock and Incentive Compensation Plans (Tables)12 Months Ended
Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Share-Based Compensation Cost Charged to IncomeShare-based compensation cost charged to income for the years ended December 31, 2020, 2019 and 2018, is presented below. There was no stock option expense for any of the periods shown. Years Ended December 31, (Dollars in thousands) 2020 2019 2018 Restricted stock $ 2,320 $ 2,247 $ 1,462 Related tax benefits recognized in net income 487 472 307
Time-Vested Award ActivityThe following table summarizes the Company's time-vested award activity: Years Ended December 31, 2020 2019 2018 Shares Weighted Average Grant-Date Fair Value Shares Weighted Average Grant-Date Fair Value Shares Weighted Average Grant-Date Fair Value Nonvested shares, January 1, 149,449 $ 35.15 174,407 $ 35.01 61,293 $ 24.61 Granted 30,638 20.14 37,641 32.77 151,324 37.51 Vested (72,325) 33.88 (59,344) 33.50 (36,209) 27.70 Forfeited (4,403) 37.11 (3,255) 30.21 (2,001) 37.47 Nonvested shares, December 31, 103,359 31.51 149,449 35.15 174,407 35.01
Stock Option ActivityThe table below summarizes the status of the Company's stock options and changes during the years ended December 31, 2020, 2019 and 2018. (Dollars in thousands, except per share amounts) Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term Aggregate Intrinsic Value Outstanding at January 1, 2018 319,500 $ 10.65 7.07 $ 4,840 Exercised (45,500) 12.29 — — Outstanding at December 31, 2018 274,000 10.38 6.75 6,493 Exercised (20,000) 8.25 — — Outstanding at December 31, 2019 254,000 10.55 5.81 6,932 Exercised (30,000) 8.25 — — Outstanding at December 31, 2020 224,000 $ 10.86 4.92 $ 3,789 Exercisable at December 31, 2020 224,000 $ 10.86 4.92 $ 3,789

Income Taxes (Tables)

Income Taxes (Tables)12 Months Ended
Dec. 31, 2020
Income Tax Disclosure [Abstract]
Schedule of Provision for Income TaxesThe provision for income taxes is as follows: (Dollars in thousands) Years Ended December 31, Federal income taxes: 2020 2019 2018 Current $ 18,157 $ 14,232 $ 4,562 Deferred (11,545) (2,513) 5,658 State income taxes: Current 1,723 1,030 638 Deferred (339) (83) (21) Income tax expense $ 7,996 $ 12,666 $ 10,837
Reconciliation of Income Tax ExpenseA reconciliation of income tax expense at the statutory rate to the Company's actual income tax expense is below: Years Ended December 31, 2020 2019 2018 (Dollars in thousands) Amount % Amount % Amount % Income taxes computed at statutory rate $ 9,314 21.00 % $ 13,975 21.00 % $ 13,113 21.00 % Tax exempt revenue, net of nondeductible interest (878) (1.98) (644) (0.97) (907) (1.45) Low-income housing tax credits, net of amortization (511) (1.15) (514) (0.77) (691) (1.11) Other tax credits, net of add-backs (1,218) (2.75) (1,218) (1.83) (1,218) (1.95) Bank-owned life insurance income (259) (0.58) (158) (0.24) (150) (0.24) State income taxes, net of federal benefit 1,033 2.35 730 1.10 469 0.75 Stock-based compensation 181 0.41 (100) (0.15) (252) (0.40) Deferred tax write-down for enacted tax rate changes — — — — 231 0.37 Nondeductible expense 257 0.58 413 0.62 337 0.53 Other 77 0.16 182 0.27 (95) (0.15) Total income tax expense $ 7,996 18.04 % $ 12,666 19.03 % $ 10,837 17.35 %
Significant Components of Deferred Tax Assets and LiabilitiesSignificant components of deferred tax assets and liabilities are as follows: (Dollars in thousands) December 31, Deferred tax assets: 2020 2019 Credit loss allowances $ 19,315 $ 8,557 Deferred compensation and share-based compensation 4,504 3,698 Net operating loss carryforwards 1,240 1,245 Other 1,064 1,441 Gross deferred tax assets 26,123 14,941 Valuation allowance (994) (970) Deferred tax assets net of valuation allowance $ 25,129 $ 13,971 Deferred tax liabilities: Basis difference in premises and equipment $ 3,089 $ 2,669 Intangible assets 118 157 Mortgage servicing rights 2,951 4,472 Other 146 152 Gross deferred tax liabilities 6,304 7,450 Net deferred tax asset $ 18,825 $ 6,521

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Tables)12 Months Ended
Dec. 31, 2020
Equity [Abstract]
Schedule of Accumulated Other Comprehensive IncomeAccumulated other comprehensive income ("AOCI") includes the after-tax change in unrealized gains and losses on AFS securities and cash flow hedging activities. (Dollars in thousands) Unrealized Gains (Losses) on AFS Securities Unrealized Gains (Losses) on Cash Flow Hedges Accumulated Other Comprehensive Income Balance at January 1, 2018 $ 1,280 $ 27 $ 1,307 Net change (4,157) 88 (4,069) Reclassification of tax effects related to the adoption of ASU 2018-02 (1) : Current (293) 17 (276) Deferred 569 (11) 558 Balance at January 1, 2019 (2,601) 121 (2,480) Net change 9,013 (200) 8,813 Balance at December 31, 2019 6,412 (79) 6,333 Net change 19,794 (478) 19,316 Balance at December 31, 2020 $ 26,206 $ (557) $ 25,649 ____________________________ (1) During the first quarter of 2018, the Company adopted ASU 2018-02. The ASU was issued by the FASB in February 2018, to address the issue of other comprehensive income or loss that became stranded in AOCI as a result of the re-measurement of an entity's deferred income tax assets and liabilities following the reduction of the U.S. federal corporate tax rate from 35% to 21% pursuant to the enactment of the Tax Cuts and Jobs Act in December 2017. The Company also had certain current tax amounts stranded in AOCI that resulted from a tax accounting election to tax net gains and losses on AFS securities and cash flow hedges as current items beginning in 2016. The Company reclassifies the taxes from AOCI to earnings as the individual securities and hedges are realized. Due to the change in corporate tax rates, the Company had certain net gains and losses taxed at the 35% rate reflected in AOCI. As these transactions are realized over time, they will flow through income tax expense at the 21% rate. Rather than adjusting income tax expense for the difference as each of these securities and instruments are realized, the Company elected to adjust the difference (stranded tax effect) to retained earnings, consistent with the treatment of the deferred tax adjustment.

Capital and Regulatory Matters

Capital and Regulatory Matters (Tables)12 Months Ended
Dec. 31, 2020
Banking Regulation [Abstract]
Actual Capital Amounts and RatiosThe actual capital amounts and ratios of the Company and Bank at December 31, 2020 and 2019, are presented in the following table: (Dollars in thousands) December 31, 2020 Actual Minimum Capital Required - Basel III To be Well Capitalized Under Prompt Corrective Action Provisions Common Equity Tier 1 Capital to Risk-Weighted Assets Amount Ratio Amount Ratio Amount Ratio Origin Bancorp, Inc. $ 604,306 9.95 % $ 425,012 7.00 % N/A N/A Origin Bank 637,863 10.53 424,010 7.00 $ 393,724 6.50 % Tier 1 Capital to Risk-Weighted Assets Origin Bancorp, Inc. 613,682 10.11 516,107 8.50 N/A N/A Origin Bank 637,863 10.53 514,870 8.50 484,583 8.00 Total Capital to Risk-Weighted Assets Origin Bancorp, Inc. 837,058 13.79 637,539 10.50 N/A N/A Origin Bank 782,503 12.92 636,019 10.50 605,732 10.00 Leverage Ratio Origin Bancorp, Inc. 613,682 8.62 284,771 4.00 N/A N/A Origin Bank 637,863 8.99 283,842 4.00 354,802 5.00 December 31, 2019 Common Equity Tier 1 Capital to Risk-Weighted Assets Origin Bancorp, Inc. 561,630 11.74 334,785 7.00 N/A N/A Origin Bank 551,060 11.55 333,924 7.00 310,072 6.50 Tier 1 Capital to Risk-Weighted Assets Origin Bancorp, Inc. 570,975 11.94 406,524 8.50 N/A N/A Origin Bank 551,060 11.55 405,479 8.50 381,627 8.00 Total Capital to Risk-Weighted Assets Origin Bancorp, Inc. 610,305 12.76 502,175 10.50 N/A N/A Origin Bank 590,390 12.38 500,888 10.50 477,037 10.00 Leverage Ratio Origin Bancorp, Inc. 570,975 10.91 209,298 4.00 N/A N/A Origin Bank 551,060 10.56 208,774 4.00 260,968 5.00

Commitments and Contingencies (

Commitments and Contingencies (Tables)12 Months Ended
Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Off-Balance Sheet Financial InstrumentsThese off-balance sheet financial instruments are summarized below: December 31, (Dollars in thousands) 2020 2019 Commitments to extend credit $ 1,341,501 $ 1,374,055 Standby letters of credit 42,911 39,344

Related Party Transactions (Tab

Related Party Transactions (Tables)12 Months Ended
Dec. 31, 2020
Related Party Transactions [Abstract]
Loans to Executive Officers, Directors, and Their AffiliatesLoans to executive officers, directors, and their affiliates at December 31, 2020 and 2019, were as follows: (Dollars in thousands) 2020 2019 Balance, beginning of year $ 1,093 $ 1,328 Advances 1,092 450 Principal repayments (793) (495) Effect of changes in composition of related parties — (190) Balance, end of year $ 1,392 $ 1,093 Commitments to extend credit $ 2,702 $ 2,212

Condensed Parent Company Only_2

Condensed Parent Company Only Financial Statements (Tables)12 Months Ended
Dec. 31, 2020
Condensed Financial Information Disclosure [Abstract]
Condensed Balance SheetsFinancial statements of Origin Bancorp, Inc. (parent company only) are as follows: (Dollars in thousands) December 31, Condensed Balance Sheets 2020 2019 Assets Cash and cash equivalents $ 42,908 $ 5,909 Investment in affiliates/subsidiaries 684,410 593,079 Other assets 10,198 10,531 Total assets $ 737,516 $ 609,519 Liabilities and Stockholders' Equity Subordinated debentures, net $ 88,258 $ 9,671 Accrued expenses and other liabilities 2,108 586 Total liabilities 90,366 10,257 Stockholders' Equity Common stock 117,532 117,405 Additional paid‑in capital 237,341 235,623 Retained earnings 266,628 239,901 Accumulated other comprehensive income 25,649 6,333 Total stockholders' equity 647,150 599,262 Total liabilities and stockholders' equity $ 737,516 $ 609,519
Condensed Statements of Income(Dollars in thousands) Years Ended December 31, Condensed Statements of Income 2020 2019 2018 Income: Dividends from subsidiaries $ 17,250 $ 17,500 $ 4,500 Other 12 470 2,052 Total income 17,262 17,970 6,552 Expenses: Interest expense 1,333 563 553 Salaries and employee benefits 214 728 658 Other 1,182 1,565 1,462 Total expenses 2,729 2,856 2,673 Income before income taxes and equity in undistributed net income of subsidiaries 14,533 15,114 3,879 Income tax benefit 549 502 84 Income before equity in undistributed net income of subsidiaries 15,082 15,616 3,963 Equity in undistributed net income of subsidiaries 21,275 38,266 47,642 Net income $ 36,357 $ 53,882 $ 51,605
Condensed Statements of Cash Flows(Dollars in thousands) Years Ended December 31, Condensed Statements of Cash Flows 2020 2019 2018 Cash flows from operating activities: Net income $ 36,357 $ 53,882 $ 51,605 Adjustments to reconcile net income to net cash provided by operating activities: Deferred income taxes (1) 9 9 Equity in undistributed net income of subsidiaries (21,275) (38,266) (47,642) Amortization of subordinated debentures discount 58 28 25 Other, net 3,633 130 (2,187) Net cash provided by operating activities 18,772 15,783 1,810 Cash flows from investing activities: Capital contributed to subsidiaries (51,000) — (45,794) Net purchases of non-marketable equity securities held in other financial institutions — — (2,213) Net cash used in investing activities (51,000) — (48,007) Cash flows from financing activities: Dividends paid (8,854) (5,863) (5,941) Taxes paid related to net share settlement of equity awards — — (23) Cash received on exercise of stock options 248 166 559 Proceeds from issuance of subordinated debentures 78,556 — — Proceeds from issuance of common stock — — 95,178 Payment to repurchase preferred stock — — (48,260) Payment to repurchase common stock (723) (10,059) — Net cash provided by (used by) financing activities 69,227 (15,756) 41,513 Net increase (decrease) in cash and cash equivalents 36,999 27 (4,684) Cash and cash equivalents at beginning of year 5,909 5,882 10,566 Cash and cash equivalents at end of year $ 42,908 $ 5,909 $ 5,882

Summary of Quarterly Financia_2

Summary of Quarterly Financial Statements (Unaudited) (Tables)12 Months Ended
Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract]
Selected Unaudited DataThe following tables present selected unaudited data from the Company's condensed consolidated quarterly statements of income for the quarterly periods within the years ended December 31, 2020 and 2019: Quarters Ended - 2020 (Dollars in thousands) December 31 September 30 June 30 March 31 Total interest income $ 59,422 $ 58,800 $ 55,464 $ 55,016 Total interest expense 7,603 8,183 9,174 12,206 Net interest income 51,819 50,617 46,290 42,810 Provision for credit losses 6,333 13,633 21,403 18,531 Net interest income after provision for credit losses 45,486 36,984 24,887 24,279 Non-interest income, exclusive of gain on sales of securities, net 15,156 17,750 19,076 12,090 Gain on sales of securities, net 225 301 — 54 Non-interest expense 38,884 38,734 38,220 36,097 Income before income taxes 21,983 16,301 5,743 326 Income tax expense 4,431 3,206 786 (427) Net income $ 17,552 $ 13,095 $ 4,957 $ 753 Basic earnings per common share (1) $ 0.75 $ 0.56 $ 0.21 $ 0.03 Diluted earnings per common share (1) 0.75 0.56 0.21 0.03 ____________________________ (1) Due to the combined impact of the repurchase of common stock on the quarterly average common shares outstanding calculation compared to the impact of the repurchase of common stock on the year-to-date average common shares outstanding calculation, and the effect of rounding, the sum of the quarterly earnings per common share will not equal the year-to-date earnings per common share amount. Quarters Ended - 2019 (Dollars in thousands) December 31 September 30 June 30 March 31 Total interest income $ 56,719 $ 58,806 $ 57,063 $ 54,494 Total interest expense 12,624 14,184 14,094 12,468 Net interest income 44,095 44,622 42,969 42,026 Provision for credit losses 2,377 4,201 1,985 1,005 Net interest income after provision for credit losses 41,718 40,421 40,984 41,021 Non-interest income, exclusive of gain on sales of securities, net 10,818 12,860 11,176 11,604 Gain on sales of securities, net — 20 — — Non-interest expense 36,534 35,064 37,095 35,381 Income before income taxes 16,002 18,237 15,065 17,244 Income tax expense 3,175 3,620 2,782 3,089 Net income 12,827 14,617 12,283 14,155 Basic earnings per common share (1) $ 0.55 $ 0.62 $ 0.52 $ 0.60 Diluted earnings per common share (1) 0.55 0.62 0.52 0.60 ____________________________ (1) Due to the combined impact of the repurchase of common stock on the quarterly average common shares outstanding calculation compared to the impact of the repurchase of common stock on the year-to-date average common shares outstanding calculation, and the effect of rounding, the sum of the quarterly earnings per common share will not equal the year-to-date earnings per common share amount.

Significant Accounting Polici_4

Significant Accounting Policies (Details)12 Months Ended
Dec. 31, 2020USD ($)loansegmentcenterDec. 31, 2019USD ($)Dec. 31, 2018USD ($)Jan. 01, 2019USD ($)
Accounting Policies [Abstract]
Number of banking centers | center44
Number of segments | segment1
Equity investments $ 12,100,000 $ 12,100,000
Number of loans in COVID-19 related forbearance | loan49
Loans in COVID-19 related forbearance $ 97,700,000
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Right of use asset21,667,000 24,013,000
Lease liability23,445,000 25,810,000
Reclassification to retained earnings266,628,000 239,901,000
OREO1,600,000 4,700,000
Penalties and related interest0 0 $ 0
Investments in limited partnerships, LLCs and other privately held companies15,700,000 16,000,000
Investments in tax credit entities $ 7,600,000 $ 9,000,000
Tax Credit Entity
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
General partner ownership interest0.10%
ASU No. 2018-15
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Capitalized costs relating to internal use software $ 455,000
Buildings and improvements | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives35 years
Buildings and improvements | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives39 years
Furniture, fixtures and equipment | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives3 years
Furniture, fixtures and equipment | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives7 years
ASU No. 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Right of use asset $ 19,700,000
Lease liability19,400,000
ASU No. 2016-02 | Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reclassification to retained earnings $ 321,000

Significant Accounting Polici_5

Significant Accounting Policies - Cumulative Effect Adjustment to Retained Earnings (Details) - USD ($) $ in ThousandsDec. 31, 2020Jan. 01, 2020Dec. 31, 2019Dec. 31, 2018Dec. 31, 2017
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for loan losses $ 86,670 $ 37,520 $ 34,203 $ 37,083
Reserve for off-balance sheet exposures1,810
Municipal securities66 0
Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for loan losses $ 1,248 1,248
Reserve for off-balance sheet exposures(381)
Municipal securities96 96
Cumulative Effect, Period of Adoption, Adjusted Balance
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for loan losses38,768
Reserve for off-balance sheet exposures1,429
Municipal securities96
Real estate
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for loan losses20,056
Real estate | Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for loan losses(6,437)
Real estate | Cumulative Effect, Period of Adoption, Adjusted Balance
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for loan losses13,619
Real estate | Commercial real estate
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for loan losses15,430 10,013 8,999 8,998
Real estate | Commercial real estate | Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for loan losses(5,052)(5,052)
Real estate | Commercial real estate | Cumulative Effect, Period of Adoption, Adjusted Balance
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for loan losses4,961
Real estate | Construction/land/land development
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for loan losses8,191 3,711 3,331 2,950
Real estate | Construction/land/land development | Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for loan losses1,141 1,141
Real estate | Construction/land/land development | Cumulative Effect, Period of Adoption, Adjusted Balance
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for loan losses4,852
Real estate | Residential real estate
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for loan losses9,418 6,332 5,705 5,807
Real estate | Residential real estate | Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for loan losses(2,526)(2,526)
Real estate | Residential real estate | Cumulative Effect, Period of Adoption, Adjusted Balance
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for loan losses3,806
Commercial and industrial
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for loan losses51,857 16,960 15,616 18,831
Commercial and industrial | Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for loan losses7,296 7,296
Commercial and industrial | Cumulative Effect, Period of Adoption, Adjusted Balance
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for loan losses24,256
Mortgage warehouse lines of credit
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for loan losses856 262 316 214
Mortgage warehouse lines of credit | Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for loan losses29 29
Mortgage warehouse lines of credit | Cumulative Effect, Period of Adoption, Adjusted Balance
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for loan losses291
Consumer
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for loan losses $ 918 242 $ 236 $ 283
Consumer | Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for loan losses360 $ 360
Consumer | Cumulative Effect, Period of Adoption, Adjusted Balance
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for loan losses $ 602

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands3 Months Ended12 Months Ended
Dec. 31, 2020Sep. 30, 2020Jun. 30, 2020Mar. 31, 2020Dec. 31, 2019Sep. 30, 2019Jun. 30, 2019Mar. 31, 2019Dec. 31, 2020Dec. 31, 2019Dec. 31, 2018
Basic earnings per common share
Net income $ 17,552 $ 13,095 $ 4,957 $ 753 $ 12,827 $ 14,617 $ 12,283 $ 14,155 $ 36,357 $ 53,882 $ 51,605
Less: Dividends to preferred stock0 0 1,923
Net income allocated to participating stockholders0 0 1,029
Net income available to common stockholders $ 36,357 $ 53,882 $ 48,653
Weighted average common shares outstanding (in shares)23,367,221 23,470,746 21,995,990
Basic earnings per common share (in dollars per share) $ 0.75 $ 0.56 $ 0.21 $ 0.03 $ 0.55 $ 0.62 $ 0.52 $ 0.60 $ 1.56 $ 2.30 $ 2.21
Diluted earnings per common share
Diluted earnings applicable to common stockholders $ 36,357 $ 53,882 $ 48,819
Weighted average diluted common shares outstanding:
Weighted average common shares outstanding (in shares)23,367,221 23,470,746 21,995,990
Dilutive effect of common stock options (in shares)144,731 203,319 198,439
Weighted average diluted common shares outstanding (in shares)23,511,952 23,674,065 22,194,429
Diluted earnings per common share (in dollars per share) $ 0.75 $ 0.56 $ 0.21 $ 0.03 $ 0.55 $ 0.62 $ 0.52 $ 0.60 $ 1.55 $ 2.28 $ 2.20

Securities - Amortized Cost and

Securities - Amortized Cost and Estimated Fair Value of Securities (Details) - USD ($) $ in ThousandsDec. 31, 2020Dec. 31, 2019
Available for sale:
Available for sale, amortized cost $ 971,595 $ 493,058
Available for sale, gross unrealized gains33,972 8,628
Available for sale, gross unrealized losses(893)(616)
Available for sale, fair value1,004,674 501,070
Available for sale, allowance for credit losses0 0
Available-for-sale, net carrying amount1,004,674 501,070
Held to maturity:
Held to maturity, amortized cost38,194
Held to maturity, allowance for credit losses41,205
Held to maturity, allowance for credit losses(66)0
Held to maturity, net carrying amount38,128 28,620
Securities carried at fair value through income:
Securities carried at fair value through income, fair value11,554 11,513
State and municipal securities
Available for sale:
Available for sale, amortized cost420,559 96,180
Available for sale, gross unrealized gains21,884 3,039
Available for sale, gross unrealized losses(258)(35)
Available for sale, fair value442,185 99,184
Available for sale, allowance for credit losses0 0
Available-for-sale, net carrying amount442,185 99,184
Held to maturity:
Held to maturity, amortized cost38,194 28,620
Held to maturity, gross unrealized gains3,011 903
Held to maturity, gross unrealized losses0 0
Held to maturity, allowance for credit losses41,205 29,523
Held to maturity, allowance for credit losses(66)0
Held to maturity, net carrying amount38,128 28,620
Securities carried at fair value through income:
Securities carried at fair value through income, amortized cost10,618 11,070
Securities carried at fair value through income, fair value11,554 11,513
Securities carried at fair value through income, net carrying amount11,554 11,513
Corporate bonds
Available for sale:
Available for sale, amortized cost64,313 16,037
Available for sale, gross unrealized gains1,762 780
Available for sale, gross unrealized losses(137)0
Available for sale, fair value65,938 16,817
Available for sale, allowance for credit losses0 0
Available-for-sale, net carrying amount65,938 16,817
U.S. government and agency securities
Available for sale:
Available for sale, amortized cost851 5,063
Available for sale, gross unrealized gains3 183
Available for sale, gross unrealized losses(5)(8)
Available for sale, fair value849 5,238
Available for sale, allowance for credit losses0 0
Available-for-sale, net carrying amount849 5,238
Commercial mortgage-backed securities
Available for sale:
Available for sale, amortized cost10,814 11,882
Available for sale, gross unrealized gains266 262
Available for sale, gross unrealized losses0 0
Available for sale, fair value11,080 12,144
Available for sale, allowance for credit losses0 0
Available-for-sale, net carrying amount11,080 12,144
Residential mortgage-backed securities
Available for sale:
Available for sale, amortized cost207,742 204,650
Available for sale, gross unrealized gains7,441 3,105
Available for sale, gross unrealized losses(232)(249)
Available for sale, fair value214,951 207,506
Available for sale, allowance for credit losses0 0
Available-for-sale, net carrying amount214,951 207,506
Commercial collateralized mortgage obligations
Available for sale:
Available for sale, amortized cost4,321
Available for sale, gross unrealized gains73
Available for sale, gross unrealized losses0
Available for sale, fair value4,394
Available for sale, allowance for credit losses0
Available-for-sale, net carrying amount4,394
Residential collateralized mortgage obligations
Available for sale:
Available for sale, amortized cost193,865 154,925
Available for sale, gross unrealized gains1,739 1,186
Available for sale, gross unrealized losses(261)(324)
Available for sale, fair value195,343 155,787
Available for sale, allowance for credit losses0 0
Available-for-sale, net carrying amount195,343 $ 155,787
Asset-backed securities
Available for sale:
Available for sale, amortized cost73,451
Available for sale, gross unrealized gains877
Available for sale, gross unrealized losses0
Available for sale, fair value74,328
Available for sale, allowance for credit losses0
Available-for-sale, net carrying amount $ 74,328

Securities - Unrealized Losses

Securities - Unrealized Losses (Details) - USD ($) $ in ThousandsDec. 31, 2020Dec. 31, 2019
Fair Value
Less than 12 Months $ 119,581 $ 56,446
12 Months or More568 39,855
Total120,149 96,301
Unrealized Loss
Less than 12 Months(888)(304)
12 Months or More(5)(312)
Total(893)(616)
State and municipal securities
Fair Value
Less than 12 Months21,979 6,996
12 Months or More0 0
Total21,979 6,996
Unrealized Loss
Less than 12 Months(258)(35)
12 Months or More0 0
Total(258)(35)
Fair Value
Less than 12 Months0 0
12 Months or More0 0
Total0 0
Unrealized Loss
Less than 12 Months0 0
12 Months or More0 0
Total0 0
Corporate bonds
Fair Value
Less than 12 Months30,513 0
12 Months or More0 0
Total30,513 0
Unrealized Loss
Less than 12 Months(137)0
12 Months or More0 0
Total(137)0
U.S. government and agency securities
Fair Value
Less than 12 Months0 0
12 Months or More568 663
Total568 663
Unrealized Loss
Less than 12 Months0 0
12 Months or More(5)(8)
Total(5)(8)
Residential mortgage-backed securities
Fair Value
Less than 12 Months23,178 29,184
12 Months or More0 14,917
Total23,178 44,101
Unrealized Loss
Less than 12 Months(232)(151)
12 Months or More0 (98)
Total(232)(249)
Residential collateralized mortgage obligations
Fair Value
Less than 12 Months43,911 20,266
12 Months or More0 24,275
Total43,911 44,541
Unrealized Loss
Less than 12 Months(261)(118)
12 Months or More0 (206)
Total $ (261) $ (324)

Securities - Narrative (Details

Securities - Narrative (Details)Dec. 31, 2020USD ($)loan
Investments, Debt and Equity Securities [Abstract]
Number of securities in an unrealized loss positions (in security) | loan44
Held-to-maturity securities, accrued interest $ 5,400,000
Held-to-maturity securities past due0
Held-to-maturity securities, nonaccrual status $ 0

Securities -Allowance for Credi

Securities -Allowance for Credit Losses for Held -to - Maturity Securities (Details) - USD ($) $ in Thousands12 Months Ended
Dec. 31, 2020Jan. 01, 2020
Allowance for credit losses:
Beginning Balance $ 0
Impact of adopting ASC 3260
Credit loss benefit(30)
Ending Balance66
Adjustment
Allowance for credit losses:
Beginning Balance96
Impact of adopting ASC 326 $ 96 $ 96

Securities - Proceeds from Sale

Securities - Proceeds from Sales of Securities Available for Sale and Gross Gains (Details) - USD ($) $ in Thousands12 Months Ended
Dec. 31, 2020Dec. 31, 2019Dec. 31, 2018
Investments, Debt and Equity Securities [Abstract]
Proceeds from sales $ 64,702 $ 27,766 $ 20,877
Gross realized gains774 161 381
Gross realized losses $ (194) $ (141) $ (389)

Securities - Contractual Maturi

Securities - Contractual Maturities (Details) - USD ($) $ in ThousandsDec. 31, 2020Dec. 31, 2019
Amortized Cost
Due in one year or less $ 12,999
Due after one year through five years0
Due after five years through ten years25,195
Due after ten years0
Held to maturity, amortized cost38,194
Fair Value
Due in one year or less13,068
Due after one year through five years0
Due after five years through ten years28,137
Due after ten years0
Held to maturity, fair value41,205
Amortized Cost
Due in one year or less3,210
Due after one year through five years47,500
Due after five years through ten years111,383
Due after ten years323,630
Available for sale, amortized cost971,595 $ 493,058
Fair Value
Due in one year or less3,237
Due after one year through five years51,572
Due after five years through ten years115,206
Due after ten years338,957
Available for sale, fair value1,004,674 501,070
Commercial mortgage-backed securities
Amortized Cost
Without single maturity date0
Fair Value
Without single maturity date0
Amortized Cost
Without single maturity date10,814
Available for sale, amortized cost10,814 11,882
Fair Value
Without single maturity date11,080
Available for sale, fair value11,080 12,144
Residential mortgage-backed securities
Amortized Cost
Without single maturity date0
Fair Value
Without single maturity date0
Amortized Cost
Without single maturity date207,742
Available for sale, amortized cost207,742 204,650
Fair Value
Without single maturity date214,951
Available for sale, fair value214,951 207,506
Residential collateralized mortgage obligations
Amortized Cost
Without single maturity date0
Fair Value
Without single maturity date0
Amortized Cost
Without single maturity date193,865
Available for sale, amortized cost193,865 154,925
Fair Value
Without single maturity date195,343
Available for sale, fair value195,343 $ 155,787
Asset-backed securities
Amortized Cost
Without single maturity date0
Fair Value
Without single maturity date0
Amortized Cost
Without single maturity date73,451
Available for sale, amortized cost73,451
Fair Value
Without single maturity date74,328
Available for sale, fair value $ 74,328

Securities - Securities Pledged

Securities - Securities Pledged as Collateral (Details) - USD ($) $ in ThousandsDec. 31, 2020Dec. 31, 2019
Carrying value of securities pledged to secure public deposits
Schedule of Held-to-maturity Securities [Line Items]
Securities pledged as collateral $ 289,537 $ 285,552
Carrying value of securities pledged to repurchase agreements
Schedule of Held-to-maturity Securities [Line Items]
Securities pledged as collateral $ 10,982 $ 20,356

Loans - Schedule of Loans (Deta

Loans - Schedule of Loans (Details) - USD ($)Dec. 31, 2020Dec. 31, 2019Dec. 31, 2018Dec. 31, 2017
Loans and Leases Receivable Disclosure [Line Items]
Loans held for sale $ 191,512,000 $ 64,837,000
Total5,707,762,000 4,125,525,000
Loans at fair value17,011,000 17,670,000
Total Loans Receivable5,724,773,000 4,143,195,000
Less: Allowance for loan losses86,670,000 37,520,000 $ 34,203,000 $ 37,083,000
LHFI, net5,638,103,000 4,105,675,000
Net deferred loan fees13,700,000 3,600,000
Paycheck Protection Program
Loans and Leases Receivable Disclosure [Line Items]
Total546,500,000 0
Net deferred loan fees9,600,000
Real estate
Loans and Leases Receivable Disclosure [Line Items]
Total2,787,908,000 2,486,420,000
Total Loans Receivable2,804,919,000 2,504,090,000
Less: Allowance for loan losses20,056,000
Real estate | Commercial real estate
Loans and Leases Receivable Disclosure [Line Items]
Total1,370,928,000 1,279,177,000
Loans at fair value17,000,000 17,700,000
Total Loans Receivable1,387,939,000 1,296,847,000
Less: Allowance for loan losses15,430,000 10,013,000 8,999,000 8,998,000
Real estate | Construction/land/land development
Loans and Leases Receivable Disclosure [Line Items]
Total531,860,000 517,688,000
Total Loans Receivable531,860,000 517,688,000
Less: Allowance for loan losses8,191,000 3,711,000 3,331,000 2,950,000
Real estate | Residential real estate
Loans and Leases Receivable Disclosure [Line Items]
Total885,120,000 689,555,000
Total Loans Receivable885,120,000 689,555,000
Less: Allowance for loan losses9,418,000 6,332,000 5,705,000 5,807,000
Commercial and industrial
Loans and Leases Receivable Disclosure [Line Items]
Total1,817,862,000 1,343,475,000
Total Loans Receivable1,817,862,000 1,343,475,000
Less: Allowance for loan losses51,857,000 16,960,000 15,616,000 18,831,000
Mortgage warehouse lines of credit
Loans and Leases Receivable Disclosure [Line Items]
Total1,084,001,000 274,659,000
Total Loans Receivable274,659,000
Less: Allowance for loan losses856,000 262,000 316,000 214,000
Consumer
Loans and Leases Receivable Disclosure [Line Items]
Total17,991,000 20,971,000
Total Loans Receivable17,991,000 20,971,000
Less: Allowance for loan losses $ 918,000 $ 242,000 $ 236,000 $ 283,000

Loans - Narrative (Details)

Loans - Narrative (Details)12 Months Ended
Dec. 31, 2020USD ($)loanDec. 31, 2019USD ($)loanDec. 31, 2018USD ($)loan
Loans and Leases Receivable Disclosure [Line Items]
Loans held for investment at fair value $ 17,011,000 $ 17,670,000
Total5,707,762,000 4,125,525,000
Net deferred loan fees13,700,000 3,600,000
Provision expense in total collective reserves39,800,000
Provision expense as a result of COVID-1927,500,000
Provision expense as a result of COVID-19 due to effects of individually evaluated loans $ 8,100,000
Number of significant loan write-offs | loan4
Nonaccrual mortgage loans held for sale recorded at fair value $ 681,000 $ 927,000
Number of loans in COVID-19 related forbearance | loan49
Loans in COVID-19 related forbearance $ 97,700,000
Number of loans that defaulted | loan0 2 0
Paycheck Protection Program
Loans and Leases Receivable Disclosure [Line Items]
Total $ 546,500,000 $ 0
Net deferred loan fees9,600,000
Nonperforming Financial Instruments
Loans and Leases Receivable Disclosure [Line Items]
Gross interest income that would have been recorded1,500,000 1,500,000 $ 1,400,000
Interest income0 0 $ 0
Outstanding principal balance117,000
Real estate
Loans and Leases Receivable Disclosure [Line Items]
Total2,787,908,000 2,486,420,000
Real estate | Commercial real estate
Loans and Leases Receivable Disclosure [Line Items]
Loans held for investment at fair value17,000,000 17,700,000
Total1,370,928,000 1,279,177,000
Commercial Portfolio Segment
Loans and Leases Receivable Disclosure [Line Items]
Total1,817,862,000 $ 1,343,475,000
Charge-off as a result of COVID-19 $ 6,600,000

Loans - Loans by Credit Quality

Loans - Loans by Credit Quality Indicator (Details) - USD ($) $ in Thousands12 Months Ended
Dec. 31, 2020Dec. 31, 2019Dec. 31, 2018
Financing Receivable, Credit Quality Indicator [Line Items]
Total $ 5,707,762 $ 4,125,525
Total Loans Receivable5,724,773 4,143,195
Charge-offs12,394 10,131 $ 7,124
Total, Current period gross recoveries1,268 4,241 2,663
Loans at fair value17,011 17,670
Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans Receivable4,035,471
Special mention
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans Receivable42,664
Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans Receivable65,060
Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans Receivable0
Loss
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans Receivable0
Real estate
Financing Receivable, Credit Quality Indicator [Line Items]
Total2,787,908 2,486,420
Total Loans Receivable2,804,919 2,504,090
Real estate | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans Receivable2,462,440
Real estate | Special mention
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans Receivable14,186
Real estate | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans Receivable27,464
Real estate | Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans Receivable0
Real estate | Loss
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans Receivable0
Real estate | Commercial real estate
Financing Receivable, Credit Quality Indicator [Line Items]
2020396,947
2019292,185
2018321,165
2017181,722
201647,608
Prior109,743
Revolving Loans Amortized Cost Basis21,558
Total1,370,928 1,279,177
Total Loans Receivable1,387,939 1,296,847
Charge-offs4,924 1,420 1,300
2020, Current period gross charge-offs0
2019, Current period gross charge-offs0
2018, Current period gross charge-offs0
2017, Current period gross charge-offs3,622
2016, Current period gross charge-offs199
Prior, Current period gross charge-offs1,103
Revolving Loans Amortized Cost Basis, Current period gross charge-offs0
2020, Current period gross recoveries0
2019, Current period gross recoveries0
2018, Current period gross recoveries0
2017, Current period gross recoveries0
2016, Current period gross recoveries0
Prior, Current period gross recoveries19
Revolving Loans Amortized Cost Basis, Current period gross recoveries0
Total, Current period gross recoveries19 341 226
2020, Current period net charge-offs0
2019, Current period net charge-offs0
2018, Current period net charge-offs0
2017, Current period net charge-offs3,622
2016, Current period net charge-offs199
Prior, Current period net charge-offs1,084
Revolving Loans Amortized Cost Basis, Current period net charge-offs0
Total, Current period net charge-offs4,905
Loans at fair value17,000 17,700
Real estate | Commercial real estate | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2020393,317
2019290,394
2018312,051
2017154,445
201646,132
Prior106,994
Revolving Loans Amortized Cost Basis18,419
Total1,321,752
Total Loans Receivable1,269,493
Real estate | Commercial real estate | Special mention
Financing Receivable, Credit Quality Indicator [Line Items]
2020824
2019113
20182,410
201720,691
20160
Prior1,656
Revolving Loans Amortized Cost Basis2,145
Total27,839
Total Loans Receivable12,479
Real estate | Commercial real estate | Classified
Financing Receivable, Credit Quality Indicator [Line Items]
20202,806
20191,678
20186,704
20176,586
20161,476
Prior1,093
Revolving Loans Amortized Cost Basis994
Total21,337
Real estate | Commercial real estate | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans Receivable14,875
Real estate | Commercial real estate | Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans Receivable0
Real estate | Commercial real estate | Loss
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans Receivable0
Real estate | Construction/land/land development
Financing Receivable, Credit Quality Indicator [Line Items]
2020189,634
2019162,513
2018138,861
201715,417
20161,955
Prior1,325
Revolving Loans Amortized Cost Basis22,155
Total531,860 517,688
Total Loans Receivable531,860 517,688
Charge-offs0 38 228
2020, Current period gross charge-offs0
2019, Current period gross charge-offs0
2018, Current period gross charge-offs0
2017, Current period gross charge-offs0
2016, Current period gross charge-offs0
Prior, Current period gross charge-offs0
Revolving Loans Amortized Cost Basis, Current period gross charge-offs0
2020, Current period gross recoveries0
2019, Current period gross recoveries0
2018, Current period gross recoveries0
2017, Current period gross recoveries0
2016, Current period gross recoveries0
Prior, Current period gross recoveries1
Revolving Loans Amortized Cost Basis, Current period gross recoveries0
Total, Current period gross recoveries1 40 6
2020, Current period net charge-offs0
2019, Current period net charge-offs0
2018, Current period net charge-offs0
2017, Current period net charge-offs0
2016, Current period net charge-offs0
Prior, Current period net charge-offs(1)
Revolving Loans Amortized Cost Basis, Current period net charge-offs0
Total, Current period net charge-offs(1)
Real estate | Construction/land/land development | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2020189,311
2019150,281
2018138,000
201712,907
20161,812
Prior1,157
Revolving Loans Amortized Cost Basis18,892
Total Loans Receivable512,360 512,901
Real estate | Construction/land/land development | Special mention
Financing Receivable, Credit Quality Indicator [Line Items]
2020323
201910,421
2018135
20171,003
20160
Prior0
Revolving Loans Amortized Cost Basis0
Total Loans Receivable11,882 149
Real estate | Construction/land/land development | Classified
Financing Receivable, Credit Quality Indicator [Line Items]
20200
20191,811
2018726
20171,507
2016143
Prior168
Revolving Loans Amortized Cost Basis3,263
Total Loans Receivable7,618
Real estate | Construction/land/land development | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans Receivable4,638
Real estate | Construction/land/land development | Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans Receivable0
Real estate | Construction/land/land development | Loss
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans Receivable0
Real estate | Residential real estate
Financing Receivable, Credit Quality Indicator [Line Items]
2020369,697
2019145,771
2018106,461
2017104,658
201652,153
Prior52,430
Revolving Loans Amortized Cost Basis53,950
Total885,120 689,555
Total Loans Receivable885,120 689,555
Charge-offs692 265 407
2020, Current period gross charge-offs94
2019, Current period gross charge-offs271
2018, Current period gross charge-offs0
2017, Current period gross charge-offs283
2016, Current period gross charge-offs0
Prior, Current period gross charge-offs44
Revolving Loans Amortized Cost Basis, Current period gross charge-offs0
2020, Current period gross recoveries0
2019, Current period gross recoveries0
2018, Current period gross recoveries0
2017, Current period gross recoveries0
2016, Current period gross recoveries0
Prior, Current period gross recoveries202
Revolving Loans Amortized Cost Basis, Current period gross recoveries0
Total, Current period gross recoveries202 185 133
2020, Current period net charge-offs94
2019, Current period net charge-offs271
2018, Current period net charge-offs0
2017, Current period net charge-offs283
2016, Current period net charge-offs0
Prior, Current period net charge-offs(158)
Revolving Loans Amortized Cost Basis, Current period net charge-offs0
Total, Current period net charge-offs490
Real estate | Residential real estate | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2020367,652
2019143,368
2018103,450
2017102,272
201641,522
Prior50,094
Revolving Loans Amortized Cost Basis53,854
Total Loans Receivable862,212 680,046
Real estate | Residential real estate | Special mention
Financing Receivable, Credit Quality Indicator [Line Items]
2020188
20190
201829
20171,875
20169,287
Prior803
Revolving Loans Amortized Cost Basis0
Total Loans Receivable12,182 1,558
Real estate | Residential real estate | Classified
Financing Receivable, Credit Quality Indicator [Line Items]
20201,857
20192,403
20182,982
2017511
20161,344
Prior1,533
Revolving Loans Amortized Cost Basis96
Total Loans Receivable10,726
Real estate | Residential real estate | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans Receivable7,951
Real estate | Residential real estate | Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans Receivable0
Real estate | Residential real estate | Loss
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans Receivable0
Commercial and industrial
Financing Receivable, Credit Quality Indicator [Line Items]
2020862,076
2019168,031
2018142,389
201735,286
201615,877
Prior48,514
Revolving Loans Amortized Cost Basis545,689
Total1,817,862 1,343,475
Total Loans Receivable1,817,862 1,343,475
Charge-offs6,702 8,231 5,068
2020, Current period gross charge-offs189
2019, Current period gross charge-offs204
2018, Current period gross charge-offs87
2017, Current period gross charge-offs121
2016, Current period gross charge-offs3,228
Prior, Current period gross charge-offs469
Revolving Loans Amortized Cost Basis, Current period gross charge-offs2,404
2020, Current period gross recoveries0
2019, Current period gross recoveries42
2018, Current period gross recoveries20
2017, Current period gross recoveries81
2016, Current period gross recoveries185
Prior, Current period gross recoveries112
Revolving Loans Amortized Cost Basis, Current period gross recoveries582
Total, Current period gross recoveries1,022 3,627 2,206
2020, Current period net charge-offs189
2019, Current period net charge-offs162
2018, Current period net charge-offs67
2017, Current period net charge-offs40
2016, Current period net charge-offs3,043
Prior, Current period net charge-offs357
Revolving Loans Amortized Cost Basis, Current period net charge-offs1,822
Total, Current period net charge-offs5,680
Commercial and industrial | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2020851,780
2019153,722
2018110,092
201729,413
20169,927
Prior26,964
Revolving Loans Amortized Cost Basis511,220
Total Loans Receivable1,693,118 1,277,564
Commercial and industrial | Special mention
Financing Receivable, Credit Quality Indicator [Line Items]
20204,860
20192,059
201826,438
2017423
20160
Prior14,843
Revolving Loans Amortized Cost Basis8,077
Total Loans Receivable56,700 28,478
Commercial and industrial | Classified
Financing Receivable, Credit Quality Indicator [Line Items]
20205,436
201912,250
20185,859
20175,450
20165,950
Prior6,707
Revolving Loans Amortized Cost Basis26,392
Total Loans Receivable68,044
Commercial and industrial | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans Receivable37,433
Commercial and industrial | Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans Receivable0
Commercial and industrial | Loss
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans Receivable0
Mortgage warehouse lines of credit
Financing Receivable, Credit Quality Indicator [Line Items]
Total1,084,001 274,659
Total Loans Receivable274,659
Charge-offs0 29 0
2020, Current period gross charge-offs0
2019, Current period gross charge-offs0
2018, Current period gross charge-offs0
2017, Current period gross charge-offs0
2016, Current period gross charge-offs0
Prior, Current period gross charge-offs0
Revolving Loans Amortized Cost Basis, Current period gross charge-offs0
2020, Current period gross recoveries0
2019, Current period gross recoveries0
2018, Current period gross recoveries0
2017, Current period gross recoveries0
2016, Current period gross recoveries0
Prior, Current period gross recoveries0
Revolving Loans Amortized Cost Basis, Current period gross recoveries0
Total, Current period gross recoveries0 0 0
2020, Current period net charge-offs0
2019, Current period net charge-offs0
2018, Current period net charge-offs0
2017, Current period net charge-offs0
2016, Current period net charge-offs0
Prior, Current period net charge-offs0
Revolving Loans Amortized Cost Basis, Current period net charge-offs0
Total, Current period net charge-offs0
Mortgage warehouse lines of credit | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
20200
20190
20180
20170
20160
Prior0
Revolving Loans Amortized Cost Basis1,084,001
Total Loans Receivable1,084,001 274,659
Mortgage warehouse lines of credit | Special mention
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans Receivable0
Mortgage warehouse lines of credit | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans Receivable0
Mortgage warehouse lines of credit | Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans Receivable0
Mortgage warehouse lines of credit | Loss
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans Receivable0
Consumer
Financing Receivable, Credit Quality Indicator [Line Items]
20206,730
20193,326
20181,578
2017203
2016122
Prior84
Revolving Loans Amortized Cost Basis5,948
Total17,991 20,971
Total Loans Receivable17,991 20,971
Charge-offs76 148 121
2020, Current period gross charge-offs0
2019, Current period gross charge-offs39
2018, Current period gross charge-offs23
2017, Current period gross charge-offs8
2016, Current period gross charge-offs0
Prior, Current period gross charge-offs4
Revolving Loans Amortized Cost Basis, Current period gross charge-offs2
2020, Current period gross recoveries0
2019, Current period gross recoveries0
2018, Current period gross recoveries1
2017, Current period gross recoveries7
2016, Current period gross recoveries5
Prior, Current period gross recoveries7
Revolving Loans Amortized Cost Basis, Current period gross recoveries4
Total, Current period gross recoveries24 48 $ 92
2020, Current period net charge-offs0
2019, Current period net charge-offs39
2018, Current period net charge-offs22
2017, Current period net charge-offs1
2016, Current period net charge-offs(5)
Prior, Current period net charge-offs(3)
Revolving Loans Amortized Cost Basis, Current period net charge-offs(2)
Total, Current period net charge-offs52
Consumer | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
20206,702
20193,318
20181,578
2017203
2016116
Prior83
Revolving Loans Amortized Cost Basis5,935
Total Loans Receivable17,935 20,808
Consumer | Special mention
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans Receivable0
Consumer | Classified
Financing Receivable, Credit Quality Indicator [Line Items]
202028
20198
20180
20170
20166
Prior1
Revolving Loans Amortized Cost Basis13
Total Loans Receivable $ 56
Consumer | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans Receivable163
Consumer | Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans Receivable0
Consumer | Loss
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans Receivable $ 0

Loans - Loan Portfolio Aging An

Loans - Loan Portfolio Aging Analysis (Details) - USD ($) $ in ThousandsDec. 31, 2020Dec. 31, 2019
Financing Receivable, Past Due [Line Items]
Total Past Due $ 25,763 $ 29,980
Current Loans5,699,010 4,113,215
Total Loans Receivable5,724,773 4,143,195
Accruing Loans 90 or More Days Past Due0 0
30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Past Due6,031 8,412
60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Past Due1,241 3,123
Loans Past Due 90 Days or More
Financing Receivable, Past Due [Line Items]
Total Past Due18,491 18,445
Real estate
Financing Receivable, Past Due [Line Items]
Total Past Due11,214 15,571
Current Loans2,793,705 2,488,519
Total Loans Receivable2,804,919 2,504,090
Accruing Loans 90 or More Days Past Due0 0
Real estate | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Past Due5,215 6,660
Real estate | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Past Due135 2,051
Real estate | Loans Past Due 90 Days or More
Financing Receivable, Past Due [Line Items]
Total Past Due5,864 6,860
Real estate | Commercial real estate
Financing Receivable, Past Due [Line Items]
Total Past Due4,244 6,808
Current Loans1,383,695 1,290,039
Total Loans Receivable1,387,939 1,296,847
Accruing Loans 90 or More Days Past Due0 0
Real estate | Commercial real estate | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Past Due1,072 917
Real estate | Commercial real estate | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Past Due0 0
Real estate | Commercial real estate | Loans Past Due 90 Days or More
Financing Receivable, Past Due [Line Items]
Total Past Due3,172 5,891
Real estate | Construction/land/land development
Financing Receivable, Past Due [Line Items]
Total Past Due2,698 3,758
Current Loans529,162 513,930
Total Loans Receivable531,860 517,688
Accruing Loans 90 or More Days Past Due0 0
Real estate | Construction/land/land development | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Past Due369 3,569
Real estate | Construction/land/land development | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Past Due1 133
Real estate | Construction/land/land development | Loans Past Due 90 Days or More
Financing Receivable, Past Due [Line Items]
Total Past Due2,328 56
Real estate | Residential real estate
Financing Receivable, Past Due [Line Items]
Total Past Due4,272 5,005
Current Loans880,848 684,550
Total Loans Receivable885,120 689,555
Accruing Loans 90 or More Days Past Due0 0
Real estate | Residential real estate | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Past Due3,774 2,174
Real estate | Residential real estate | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Past Due134 1,918
Real estate | Residential real estate | Loans Past Due 90 Days or More
Financing Receivable, Past Due [Line Items]
Total Past Due364 913
Commercial and industrial
Financing Receivable, Past Due [Line Items]
Total Past Due14,425 14,170
Current Loans1,803,437 1,329,305
Total Loans Receivable1,817,862 1,343,475
Accruing Loans 90 or More Days Past Due0 0
Commercial and industrial | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Past Due703 1,588
Commercial and industrial | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Past Due1,097 1,037
Commercial and industrial | Loans Past Due 90 Days or More
Financing Receivable, Past Due [Line Items]
Total Past Due12,625 11,545
Mortgage warehouse lines of credit
Financing Receivable, Past Due [Line Items]
Total Past Due0 0
Current Loans1,084,001 274,659
Total Loans Receivable274,659
Accruing Loans 90 or More Days Past Due0 0
Mortgage warehouse lines of credit | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Past Due0 0
Mortgage warehouse lines of credit | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Past Due0 0
Mortgage warehouse lines of credit | Loans Past Due 90 Days or More
Financing Receivable, Past Due [Line Items]
Total Past Due0 0
Consumer
Financing Receivable, Past Due [Line Items]
Total Past Due124 239
Current Loans17,867 20,732
Total Loans Receivable17,991 20,971
Accruing Loans 90 or More Days Past Due0 0
Consumer | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Past Due113 164
Consumer | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Past Due9 35
Consumer | Loans Past Due 90 Days or More
Financing Receivable, Past Due [Line Items]
Total Past Due $ 2 $ 40

Loans - Allowance for Loan Loss

Loans - Allowance for Loan Losses by Portfolio Segment (Details) - USD ($) $ in Thousands12 Months Ended
Dec. 31, 2020Dec. 31, 2019Dec. 31, 2018
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance $ 37,520 $ 34,203 $ 37,083
Charge-offs12,394 10,131 7,124
Recoveries1,268 4,241 2,663
Provision (Benefit)59,028 9,207 1,581
Ending balance86,670 37,520 34,203
Accrued interest20,300
Provision for credit losses59,900 9,600 1,000
Provision (release) for off-balance sheet commitments902 361 (567)
Credit loss benefit(30)
Adjustment
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance1,248
Ending balance1,248
Real estate
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance20,056
Ending balance20,056
Real estate | Commercial real estate
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance10,013 8,999 8,998
Charge-offs4,924 1,420 1,300
Recoveries19 341 226
Provision (Benefit)15,374 2,093 1,075
Ending balance15,430 10,013 8,999
Real estate | Commercial real estate | Adjustment
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance(5,052)
Ending balance(5,052)
Real estate | Construction/land/land development
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance3,711 3,331 2,950
Charge-offs0 38 228
Recoveries1 40 6
Provision (Benefit)3,338 378 603
Ending balance8,191 3,711 3,331
Real estate | Construction/land/land development | Adjustment
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance1,141
Ending balance1,141
Real estate | Residential real estate
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance6,332 5,705 5,807
Charge-offs692 265 407
Recoveries202 185 133
Provision (Benefit)6,102 707 172
Ending balance9,418 6,332 5,705
Real estate | Residential real estate | Adjustment
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance(2,526)
Ending balance(2,526)
Commercial and industrial
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance16,960 15,616 18,831
Charge-offs6,702 8,231 5,068
Recoveries1,022 3,627 2,206
Provision (Benefit)33,281 5,948 (353)
Ending balance51,857 16,960 15,616
Commercial and industrial | Adjustment
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance7,296
Ending balance7,296
Mortgage warehouse lines of credit
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance262 316 214
Charge-offs0 29 0
Recoveries0 0 0
Provision (Benefit)565 (25)102
Ending balance856 262 316
Mortgage warehouse lines of credit | Adjustment
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance29
Ending balance29
Consumer
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance242 236 283
Charge-offs76 148 121
Recoveries24 48 92
Provision (Benefit)368 106 (18)
Ending balance918 242 $ 236
Consumer | Adjustment
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance $ 360
Ending balance $ 360

Loans - Recorded Investment in

Loans - Recorded Investment in Loans and Allowance for Credit Losses by Loss Estimation Methodology (Details) - USD ($) $ in ThousandsDec. 31, 2020Dec. 31, 2019Dec. 31, 2018Dec. 31, 2017
Financing Receivable, Allowance for Credit Loss [Line Items]
Loan balance collectively evaluated $ 37,321
Loan Balance Individually Evaluated199
Less: Allowance for loan losses $ 86,670 37,520 $ 34,203 $ 37,083
Collectively Evaluated, Probability of Default4,093,051
Loan Balance Individually Evaluated32,474
Total5,707,762 4,125,525
Probability of Default
Financing Receivable, Allowance for Credit Loss [Line Items]
Loan balance collectively evaluated78,429
Collectively Evaluated, Probability of Default5,679,234
Fair Value of Collateral
Financing Receivable, Allowance for Credit Loss [Line Items]
Loan Balance Individually Evaluated2,360
Loan Balance Individually Evaluated10,955
Discounted Cash Flow
Financing Receivable, Allowance for Credit Loss [Line Items]
Loan Balance Individually Evaluated5,881
Loan Balance Individually Evaluated17,573
Real estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Less: Allowance for loan losses20,056
Total2,787,908 2,486,420
Real estate | Commercial real estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Loan balance collectively evaluated10,010
Loan Balance Individually Evaluated3
Less: Allowance for loan losses15,430 10,013 8,999 8,998
Collectively Evaluated, Probability of Default1,271,731
Loan Balance Individually Evaluated7,446
Total1,370,928 1,279,177
Real estate | Commercial real estate | Probability of Default
Financing Receivable, Allowance for Credit Loss [Line Items]
Loan balance collectively evaluated14,896
Collectively Evaluated, Probability of Default1,365,284
Real estate | Commercial real estate | Fair Value of Collateral
Financing Receivable, Allowance for Credit Loss [Line Items]
Loan Balance Individually Evaluated525
Loan Balance Individually Evaluated3,173
Real estate | Commercial real estate | Discounted Cash Flow
Financing Receivable, Allowance for Credit Loss [Line Items]
Loan Balance Individually Evaluated9
Loan Balance Individually Evaluated2,471
Real estate | Construction/land/land development
Financing Receivable, Allowance for Credit Loss [Line Items]
Loan balance collectively evaluated3,708
Loan Balance Individually Evaluated3
Less: Allowance for loan losses8,191 3,711 3,331 2,950
Collectively Evaluated, Probability of Default513,359
Loan Balance Individually Evaluated4,329
Total531,860 517,688
Real estate | Construction/land/land development | Probability of Default
Financing Receivable, Allowance for Credit Loss [Line Items]
Loan balance collectively evaluated8,062
Collectively Evaluated, Probability of Default528,894
Real estate | Construction/land/land development | Fair Value of Collateral
Financing Receivable, Allowance for Credit Loss [Line Items]
Loan Balance Individually Evaluated128
Loan Balance Individually Evaluated2,621
Real estate | Construction/land/land development | Discounted Cash Flow
Financing Receivable, Allowance for Credit Loss [Line Items]
Loan Balance Individually Evaluated1
Loan Balance Individually Evaluated345
Real estate | Residential real estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Loan balance collectively evaluated6,311
Loan Balance Individually Evaluated21
Less: Allowance for loan losses9,418 6,332 5,705 5,807
Collectively Evaluated, Probability of Default684,618
Loan Balance Individually Evaluated4,937
Total885,120 689,555
Real estate | Residential real estate | Probability of Default
Financing Receivable, Allowance for Credit Loss [Line Items]
Loan balance collectively evaluated8,983
Collectively Evaluated, Probability of Default879,015
Real estate | Residential real estate | Fair Value of Collateral
Financing Receivable, Allowance for Credit Loss [Line Items]
Loan Balance Individually Evaluated0
Loan Balance Individually Evaluated2,009
Real estate | Residential real estate | Discounted Cash Flow
Financing Receivable, Allowance for Credit Loss [Line Items]
Loan Balance Individually Evaluated435
Loan Balance Individually Evaluated4,096
Commercial and industrial
Financing Receivable, Allowance for Credit Loss [Line Items]
Loan balance collectively evaluated16,792
Loan Balance Individually Evaluated168
Less: Allowance for loan losses51,857 16,960 15,616 18,831
Collectively Evaluated, Probability of Default1,327,813
Loan Balance Individually Evaluated15,662
Total1,817,862 1,343,475
Commercial and industrial | Probability of Default
Financing Receivable, Allowance for Credit Loss [Line Items]
Loan balance collectively evaluated44,714
Collectively Evaluated, Probability of Default1,804,049
Commercial and industrial | Fair Value of Collateral
Financing Receivable, Allowance for Credit Loss [Line Items]
Loan Balance Individually Evaluated1,707
Loan Balance Individually Evaluated3,152
Commercial and industrial | Discounted Cash Flow
Financing Receivable, Allowance for Credit Loss [Line Items]
Loan Balance Individually Evaluated5,436
Loan Balance Individually Evaluated10,661
Mortgage warehouse lines of credit
Financing Receivable, Allowance for Credit Loss [Line Items]
Loan balance collectively evaluated262
Loan Balance Individually Evaluated0
Less: Allowance for loan losses856 262 316 214
Collectively Evaluated, Probability of Default274,659
Loan Balance Individually Evaluated0
Total1,084,001 274,659
Mortgage warehouse lines of credit | Probability of Default
Financing Receivable, Allowance for Credit Loss [Line Items]
Loan balance collectively evaluated856
Collectively Evaluated, Probability of Default1,084,001
Mortgage warehouse lines of credit | Fair Value of Collateral
Financing Receivable, Allowance for Credit Loss [Line Items]
Loan Balance Individually Evaluated0
Loan Balance Individually Evaluated0
Mortgage warehouse lines of credit | Discounted Cash Flow
Financing Receivable, Allowance for Credit Loss [Line Items]
Loan Balance Individually Evaluated0
Loan Balance Individually Evaluated0
Consumer
Financing Receivable, Allowance for Credit Loss [Line Items]
Loan balance collectively evaluated238
Loan Balance Individually Evaluated4
Less: Allowance for loan losses918 242 $ 236 $ 283
Collectively Evaluated, Probability of Default20,871
Loan Balance Individually Evaluated100
Total17,991 $ 20,971
Consumer | Probability of Default
Financing Receivable, Allowance for Credit Loss [Line Items]
Loan balance collectively evaluated918
Collectively Evaluated, Probability of Default17,991
Consumer | Fair Value of Collateral
Financing Receivable, Allowance for Credit Loss [Line Items]
Loan Balance Individually Evaluated0
Loan Balance Individually Evaluated0
Consumer | Discounted Cash Flow
Financing Receivable, Allowance for Credit Loss [Line Items]
Loan Balance Individually Evaluated0
Loan Balance Individually Evaluated $ 0

Loans - Impaired Loans Evaluate

Loans - Impaired Loans Evaluated Individually and Collectively (Details) - USD ($) $ in ThousandsDec. 31, 2020Dec. 31, 2019
Financing Receivable, Allowance for Credit Loss [Line Items]
Period End Allowance Allocated to Loans Individually Evaluated for Impairment $ 199
Period End Allowance Allocated to Loans Collectively Evaluated for Impairment37,321
Period End Loan Balance Individually Evaluated for Impairment32,474
Period End Loan Balance Collectively Evaluated for Impairment4,093,051
Loans held for investment at fair value $ 17,011 17,670
Real estate | Commercial real estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Period End Allowance Allocated to Loans Individually Evaluated for Impairment3
Period End Allowance Allocated to Loans Collectively Evaluated for Impairment10,010
Period End Loan Balance Individually Evaluated for Impairment7,446
Period End Loan Balance Collectively Evaluated for Impairment1,271,731
Loans held for investment at fair value $ 17,000 17,700
Real estate | Construction/land/land development
Financing Receivable, Allowance for Credit Loss [Line Items]
Period End Allowance Allocated to Loans Individually Evaluated for Impairment3
Period End Allowance Allocated to Loans Collectively Evaluated for Impairment3,708
Period End Loan Balance Individually Evaluated for Impairment4,329
Period End Loan Balance Collectively Evaluated for Impairment513,359
Real estate | Residential real estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Period End Allowance Allocated to Loans Individually Evaluated for Impairment21
Period End Allowance Allocated to Loans Collectively Evaluated for Impairment6,311
Period End Loan Balance Individually Evaluated for Impairment4,937
Period End Loan Balance Collectively Evaluated for Impairment684,618
Commercial and industrial
Financing Receivable, Allowance for Credit Loss [Line Items]
Period End Allowance Allocated to Loans Individually Evaluated for Impairment168
Period End Allowance Allocated to Loans Collectively Evaluated for Impairment16,792
Period End Loan Balance Individually Evaluated for Impairment15,662
Period End Loan Balance Collectively Evaluated for Impairment1,327,813
Mortgage warehouse lines of credit
Financing Receivable, Allowance for Credit Loss [Line Items]
Period End Allowance Allocated to Loans Individually Evaluated for Impairment0
Period End Allowance Allocated to Loans Collectively Evaluated for Impairment262
Period End Loan Balance Individually Evaluated for Impairment0
Period End Loan Balance Collectively Evaluated for Impairment274,659
Consumer
Financing Receivable, Allowance for Credit Loss [Line Items]
Period End Allowance Allocated to Loans Individually Evaluated for Impairment4
Period End Allowance Allocated to Loans Collectively Evaluated for Impairment238
Period End Loan Balance Individually Evaluated for Impairment100
Period End Loan Balance Collectively Evaluated for Impairment $ 20,871

Loans - Impaired Loans (Details

Loans - Impaired Loans (Details) $ in ThousandsDec. 31, 2019USD ($)
Financing Receivable, Impaired [Line Items]
Unpaid Contractual Principal Balance $ 44,293
Recorded Investment with no Allowance30,423
Recorded Investment with an Allowance2,051
Total Recorded Investment32,474
Allocation of Allowance for Loan Losses199
Real estate
Financing Receivable, Impaired [Line Items]
Unpaid Contractual Principal Balance21,326
Recorded Investment with no Allowance16,038
Recorded Investment with an Allowance674
Total Recorded Investment16,712
Allocation of Allowance for Loan Losses27
Real estate | Commercial real estate
Financing Receivable, Impaired [Line Items]
Unpaid Contractual Principal Balance10,788
Recorded Investment with no Allowance7,375
Recorded Investment with an Allowance71
Total Recorded Investment7,446
Allocation of Allowance for Loan Losses3
Real estate | Construction/land/land development
Financing Receivable, Impaired [Line Items]
Unpaid Contractual Principal Balance4,692
Recorded Investment with no Allowance4,256
Recorded Investment with an Allowance73
Total Recorded Investment4,329
Allocation of Allowance for Loan Losses3
Real estate | Residential real estate
Financing Receivable, Impaired [Line Items]
Unpaid Contractual Principal Balance5,846
Recorded Investment with no Allowance4,407
Recorded Investment with an Allowance530
Total Recorded Investment4,937
Allocation of Allowance for Loan Losses21
Commercial and industrial
Financing Receivable, Impaired [Line Items]
Unpaid Contractual Principal Balance22,857
Recorded Investment with no Allowance14,385
Recorded Investment with an Allowance1,277
Total Recorded Investment15,662
Allocation of Allowance for Loan Losses168
Consumer
Financing Receivable, Impaired [Line Items]
Unpaid Contractual Principal Balance110
Recorded Investment with no Allowance0
Recorded Investment with an Allowance100
Total Recorded Investment100
Allocation of Allowance for Loan Losses $ 4

Loans - Non Performing (Nonaccr

Loans - Non Performing (Nonaccrual) Loans Held For Investment (Details) - USD ($) $ in ThousandsDec. 31, 2020Dec. 31, 2019
Financing Receivable, Credit Quality Indicator [Line Items]
Nonaccrual With No Allowance for Credit Loss $ 4,890
Nonaccrual26,149 $ 31,146
Real estate
Financing Receivable, Credit Quality Indicator [Line Items]
Nonaccrual With No Allowance for Credit Loss4,808
Nonaccrual13,196 16,463
Real estate | Commercial real estate
Financing Receivable, Credit Quality Indicator [Line Items]
Nonaccrual With No Allowance for Credit Loss1,053
Nonaccrual3,704 6,994
Real estate | Construction/land/land development
Financing Receivable, Credit Quality Indicator [Line Items]
Nonaccrual With No Allowance for Credit Loss1,319
Nonaccrual2,962 4,337
Real estate | Residential real estate
Financing Receivable, Credit Quality Indicator [Line Items]
Nonaccrual With No Allowance for Credit Loss2,436
Nonaccrual6,530 5,132
Commercial and industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Nonaccrual With No Allowance for Credit Loss82
Nonaccrual12,897 14,520
Consumer
Financing Receivable, Credit Quality Indicator [Line Items]
Nonaccrual With No Allowance for Credit Loss0
Nonaccrual $ 56 $ 163

Loans - Troubled Debt Restructu

Loans - Troubled Debt Restructurings (Details) - USD ($) $ in ThousandsDec. 31, 2020Dec. 31, 2019
Financing Receivable, Troubled Debt Restructuring [Line Items]
Loans classified as troubled debt restructurings $ 8,985 $ 8,452
Nonaccrual TDRs
Financing Receivable, Troubled Debt Restructuring [Line Items]
Loans classified as troubled debt restructurings5,671 6,609
Performing TDRs
Financing Receivable, Troubled Debt Restructuring [Line Items]
Loans classified as troubled debt restructurings $ 3,314 $ 1,843

Loans - Pre-Modification Balanc

Loans - Pre-Modification Balances of TDR (Details) - Nonperforming Financial Instruments $ in Thousands12 Months Ended
Dec. 31, 2020USD ($)loanDec. 31, 2019USD ($)loanDec. 31, 2018USD ($)loan
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Loans Restructured | loan13 9 11
Pre-Modification Recorded Balance $ 3,127 $ 4,202 $ 911
Total Modifications $ 2,943 $ 3,614 $ 771
Real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Loans Restructured | loan7 3 7
Pre-Modification Recorded Balance $ 2,908 $ 2,877 $ 680
Total Modifications $ 2,748 $ 2,753 $ 548
Real estate | Commercial real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Loans Restructured | loan2 1
Pre-Modification Recorded Balance $ 1,696 $ 252
Total Modifications $ 1,694 $ 150
Real estate | Construction/land/land development
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Loans Restructured | loan1
Pre-Modification Recorded Balance $ 361
Total Modifications $ 343
Real estate | Residential real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Loans Restructured | loan5 2 6
Pre-Modification Recorded Balance $ 1,212 $ 2,516 $ 428
Total Modifications $ 1,054 $ 2,410 $ 398
Commercial and industrial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Loans Restructured | loan5 5 3
Pre-Modification Recorded Balance $ 217 $ 1,314 $ 198
Total Modifications $ 193 $ 852 $ 194
Consumer
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Loans Restructured | loan1 1 1
Pre-Modification Recorded Balance $ 2 $ 11 $ 33
Total Modifications2 9 29
Term Concessions
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Modifications1,887 861 378
Term Concessions | Real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Modifications1,694 0 198
Term Concessions | Real estate | Commercial real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Modifications1,694 150
Term Concessions | Real estate | Construction/land/land development
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Modifications0
Term Concessions | Real estate | Residential real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Modifications0 0 48
Term Concessions | Commercial and industrial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Modifications193 852 180
Term Concessions | Consumer
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Modifications0 9 0
Interest Rate Concessions
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Modifications177 0 19
Interest Rate Concessions | Real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Modifications177 0 19
Interest Rate Concessions | Real estate | Commercial real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Modifications0 0
Interest Rate Concessions | Real estate | Construction/land/land development
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Modifications0
Interest Rate Concessions | Real estate | Residential real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Modifications177 0 19
Interest Rate Concessions | Commercial and industrial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Modifications0 0 0
Interest Rate Concessions | Consumer
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Modifications0 0 0
Combination of Term and Rate Concessions
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Modifications879 2,753 374
Combination of Term and Rate Concessions | Real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Modifications877 2,753 331
Combination of Term and Rate Concessions | Real estate | Commercial real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Modifications0 0
Combination of Term and Rate Concessions | Real estate | Construction/land/land development
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Modifications343
Combination of Term and Rate Concessions | Real estate | Residential real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Modifications877 2,410 331
Combination of Term and Rate Concessions | Commercial and industrial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Modifications0 0 14
Combination of Term and Rate Concessions | Consumer
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Modifications $ 2 $ 0 $ 29

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Fair Value of Assets and Liabilities Recorded on a Recurring Basis (Details) - USD ($) $ in ThousandsDec. 31, 2020Dec. 31, 2019Dec. 31, 2018Dec. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale $ 1,004,674 $ 501,070
Securities carried at fair value through income11,554 11,513
Loans held for sale136,026 36,977
Loans at fair value17,011 17,670
Mortgage servicing rights13,660 20,697 $ 25,114 $ 24,182
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale1,004,674 501,070
Securities carried at fair value through income11,554 11,513
Loans held for sale136,026 36,977
Loans at fair value17,011 17,670
Mortgage servicing rights13,660 20,697
Other assets - derivatives23,694 9,384
Total recurring fair value measurements - assets1,206,619 597,311
Other liabilities - derivatives(23,020)(9,488)
Total recurring fair value measurements - liabilities(23,020)(9,488)
Fair Value, Measurements, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale0 0
Securities carried at fair value through income0 0