Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2021 | Apr. 30, 2021 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0001624322 | |
Entity Registrant Name | Business First Bancshares, Inc. | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2021 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Mar. 31, 2021 | |
Document Transition Report | false | |
Entity File Number | 001-38447 | |
Entity Incorporation, State or Country Code | LA | |
Entity Tax Identification Number | 20-5340628 | |
Entity Address, Address Line One | 500 Laurel Street, Suite 101 | |
Entity Address, City or Town | Baton Rouge | |
Entity Address, State or Province | LA | |
Entity Address, Postal Zip Code | 70801 | |
City Area Code | 225 | |
Local Phone Number | 248-7600 | |
Title of 12(b) Security | Common Stock, par value $1.00 per share | |
Trading Symbol | BFST | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 20,792,597 |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Cash and Due from Banks | $ 355,257 | $ 149,131 |
Federal Funds Sold | 105,595 | 174,152 |
Securities Available for Sale, at Fair Values | 721,224 | 640,605 |
Mortgage Loans Held for Sale | 2,298 | 969 |
Loans and Lease Receivable, Net of Allowance for Loan Losses of $25,251 at March 31, 2021 and $22,024 at December 31, 2020 | 3,016,727 | 2,969,331 |
Premises and Equipment, Net | 57,931 | 58,593 |
Accrued Interest Receivable | 25,910 | 23,895 |
Other Equity Securities | 12,584 | 12,693 |
Other Real Estate Owned | 8,851 | 9,051 |
Cash Value of Life Insurance | 60,348 | 45,030 |
Deferred Taxes | 5,536 | 5,858 |
Goodwill | 53,753 | 53,862 |
Core Deposit Intangible | 9,406 | 9,734 |
Other Assets | 8,166 | 7,456 |
Total Assets | 4,443,586 | 4,160,360 |
Deposits: | ||
Noninterest Bearing | 1,186,625 | 1,164,139 |
Interest Bearing | 2,672,109 | 2,452,540 |
Total Deposits | 3,858,734 | 3,616,679 |
Securities Sold Under Agreements to Repurchase | 21,419 | 21,825 |
Short Term Borrowings | 20 | 5,020 |
Federal Home Loan Bank Borrowings | 33,073 | 43,145 |
Subordinated Debt | 77,500 | 25,000 |
Subordinated Debt - Trust Preferred Securities | 5,000 | 5,000 |
Accrued Interest Payable | 1,941 | 2,499 |
Other Liabilities | 29,198 | 25,229 |
Total Liabilities | 4,026,885 | 3,750,397 |
Commitments and Contingencies (See Note 9) | ||
Preferred Stock, No Par Value; 5,000,000 Shares Authorized | 0 | 0 |
Common Stock, $1 Par Value; 50,000,000 Shares Authorized; 20,804,753 and 20,621,437 Shares Issued and Outstanding at March 31, 2021 and December 31, 2020, respectively | 20,805 | 20,621 |
Additional Paid-in Capital | 300,282 | 299,540 |
Retained Earnings | 89,441 | 79,174 |
Accumulated Other Comprehensive Income | 6,173 | 10,628 |
Total Shareholders' Equity | 416,701 | 409,963 |
Total Liabilities and Shareholders' Equity | 4,443,586 | 4,160,360 |
Long-term Debt Excluding Federal Reserve Bank Payroll Protection Program Liquidity Facility [Member] | ||
Deposits: | ||
Long Term Borrowings | $ 0 | $ 6,000 |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Allowance for loan losses | $ 25,251 | $ 22,024 |
Preferred stock, par value (in dollars per share) | $ 0 | $ 0 |
Preferred stock, shares authorized (in shares) | 5,000,000 | 5,000,000 |
Common stock, par value (in dollars per share) | $ 1 | $ 1 |
Common stock, shares authorized (in shares) | 50,000,000 | 50,000,000 |
Common stock, shares issued (in shares) | 20,804,753 | 20,621,437 |
Common stock, shares outstanding (in shares) | 20,804,753 | 20,621,437 |
Unaudited Consolidated Statemen
Unaudited Consolidated Statements of Income - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Interest Income: | ||
Interest and Fees on Loans | $ 41,419 | $ 24,143 |
Interest and Dividends on Non-taxable Securities | 1,045 | 491 |
Interest and Dividends on Taxable Securities | 1,757 | 1,240 |
Interest on Federal Funds Sold and Due From Banks | 41 | 142 |
Total Interest Income | 44,262 | 26,016 |
Interest Expense: | ||
Interest on Deposits | 3,243 | 4,686 |
Interest on Borrowings | 718 | 1,119 |
Total Interest Expense | 3,961 | 5,805 |
Net Interest Income | 40,301 | 20,211 |
Provision for Loan Losses | 3,359 | 1,367 |
Net Interest Income after Provision for Loan Losses | 36,942 | 18,844 |
Other Income: | ||
Service Charges on Deposit Accounts | 1,567 | 931 |
Gain (Loss) on Sales of Securities | (5) | 25 |
Gain (Loss) on Sales of Loans | (21) | 177 |
Other Income | 3,542 | 1,671 |
Total Other Income | 5,083 | 2,804 |
Other Expenses: | ||
Salaries and Employee Benefits | 14,926 | 9,435 |
Occupancy and Equipment Expense | 3,717 | 1,891 |
Other Expenses | 8,320 | 5,317 |
Total Other Expenses | 26,963 | 16,643 |
Income Before Income Taxes | 15,062 | 5,005 |
Provision for Income Taxes | 2,733 | 506 |
Net Income | $ 12,329 | $ 4,499 |
Earnings Per Share: | ||
Basic (in dollars per share) | $ 0.60 | $ 0.34 |
Diluted (in dollars per share) | $ 0.59 | $ 0.34 |
Unaudited Consolidated Statem_2
Unaudited Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Consolidated Net Income | $ 12,329 | $ 4,499 |
Other Comprehensive Loss: | ||
Unrealized Loss on Investment Securities | (7,138) | (577) |
Change in the Unrealized Gain on Equity Securities | 1,493 | 0 |
Reclassification Adjustment for (Gains) Losses on Sale of AFS Included in Net Income | 5 | (25) |
Income Tax Effect | 1,185 | 126 |
Other Comprehensive Loss | (4,455) | (476) |
Consolidated Comprehensive Income | $ 7,874 | $ 4,023 |
Unaudited Consolidated Statem_3
Unaudited Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balances at at Dec. 31, 2019 | $ 13,279 | $ 212,505 | $ 56,700 | $ 2,613 | $ 285,097 |
Net Income | 0 | 0 | 4,499 | 0 | 4,499 |
Other Comprehensive Loss | 0 | 0 | 0 | (476) | (476) |
Cash Dividends Declared | 0 | 0 | (1,340) | 0 | (1,340) |
Stock Issuance | 332 | 3,029 | 0 | 0 | 3,361 |
Surrendered Shares of Options Exercised | (173) | (4,148) | 0 | 0 | (4,321) |
Stock Based Compensation Cost | 65 | 145 | 0 | 0 | 210 |
Stock Repurchase | (435) | 0 | 0 | (5,000) | |
Stock Repurchase, APIC | (4,565) | ||||
Balances at at Mar. 31, 2020 | 13,068 | 206,966 | 59,859 | 2,137 | 282,030 |
Balances at at Dec. 31, 2020 | 20,621 | 299,540 | 79,174 | 10,628 | 409,963 |
Net Income | 0 | 0 | 12,329 | 0 | 12,329 |
Other Comprehensive Loss | 0 | 0 | 0 | (4,455) | (4,455) |
Cash Dividends Declared | 0 | 0 | (2,062) | 0 | (2,062) |
Stock Issuance | 115 | 1,317 | 0 | 0 | 1,432 |
Surrendered Shares of Options Exercised | (15) | (323) | 0 | 0 | (338) |
Stock Based Compensation Cost | 116 | 379 | 0 | 0 | 495 |
Stock Repurchase | (32) | 0 | 0 | (663) | |
Stock Repurchase, APIC | (631) | ||||
Balances at at Mar. 31, 2021 | $ 20,805 | $ 300,282 | $ 89,441 | $ 6,173 | $ 416,701 |
Unaudited Consolidated Statem_4
Unaudited Consolidated Statements of Changes in Shareholders' Equity (Parentheticals) - $ / shares | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Cash dividends declared (in dollars per share) | $ 0.10 | $ 0.10 |
Unaudited Consolidated Statem_5
Unaudited Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | |
Cash Flows From Operating Activities: | |||
Consolidated Net Income | $ 12,329 | $ 4,499 | |
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities: | |||
Provision for Loan Losses | 3,359 | 1,367 | $ 11,435 |
Depreciation and Amortization | 1,030 | 378 | |
Net Accretion of Purchase Accounting Adjustments | (3,021) | (67) | |
Stock Based Compensation Cost | 495 | 210 | |
Net Amortization of Securities | 1,778 | 379 | |
(Gain) Loss on Sales of Securities | 5 | (25) | |
Income on Other Equity Securities | (66) | (749) | |
Loss on Sale of Other Real Estate Owned, Net of Writedowns | 165 | 46 | |
Increase in Cash Value of Life Insurance | (318) | (197) | |
Deferred Income Tax Expense | 1,507 | 471 | |
Changes in Assets and Liabilities: | |||
(Increase) Decrease in Accrued Interest Receivable | (2,015) | 301 | |
(Increase) Decrease in Other Assets | (601) | 238 | |
Increase (Decrease) in Accrued Interest Payable | (558) | 40 | |
Increase (Decrease) in Other Liabilities | 3,969 | (683) | |
Net Cash Provided by Operating Activities | 18,058 | 6,208 | |
Cash Flows From Investing Activities: | |||
Purchases of Securities Available for Sale | (122,981) | (21,398) | |
Proceeds from Maturities / Sales of Securities Available for Sale | 11,023 | 13,537 | |
Proceeds from Paydowns of Securities Available for Sale | 22,423 | 9,983 | |
Purchases of Other Equity Securities | (85) | 0 | |
Redemption of Other Equity Securities | 1,753 | 1,593 | |
Proceeds from Purchase of Life Insurance | (15,000) | 0 | |
Net Increase in Loans | (49,969) | (61,656) | |
Net Purchases of Premises and Equipment | (368) | (754) | |
Proceeds from Sales of Other Real Estate | 983 | 751 | |
Net Decrease in Federal Funds Sold | 68,557 | 32,237 | |
Net Cash Used in Investing Activities | (83,664) | (25,707) | |
Cash Flows From Financing Activities: | |||
Net Increase in Deposits | 242,269 | 20,798 | |
Net Decrease in Securities Sold Under Agreements to Repurchase | (406) | (53,261) | |
Net Advances (Repayments) on Federal Home Loan Bank Borrowings | (10,000) | 45,000 | |
Net Proceeds (Repayments) from Short Term Borrowings | (5,000) | 5,000 | |
Net Repayments from Long Term Borrowings | (6,000) | 0 | |
Proceeds from Issuance of Subordinated Debt | 52,500 | 0 | |
Proceeds from Issuance of Common Stock | 1,432 | 3,361 | |
Surrendered Shares of Options Exercised | (338) | (4,321) | |
Repurchase of Common Stock | (663) | (5,000) | |
Payment of Dividends on Common Stock | (2,062) | (1,340) | |
Net Cash Provided by Financing Activities | 271,732 | 10,237 | |
Net Increase (Decrease) in Cash and Cash Equivalents | 206,126 | (9,262) | |
Cash and Cash Equivalents at Beginning of Period | 149,131 | 89,371 | 89,371 |
Cash and Cash Equivalents at End of Period | 355,257 | 80,109 | $ 149,131 |
Supplemental Disclosures for Cash Flow Information: | |||
Interest on Deposits | 3,736 | 4,654 | |
Interest on Borrowings | 783 | 1,111 | |
Income Tax Payments | 0 | 0 | |
Supplemental Schedule for Noncash Investing and Financing Activities: | |||
Change in the Unrealized Loss on Securities Available for Sale | (7,133) | (602) | |
Change in the Unrealized Gain on Equity Securities | 1,493 | 0 | |
Securities Available for Sale | 1,185 | 126 | |
Transfer of Loans to Other Real Estate | $ 948 | $ 42 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation - | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | Note 1 Basis of Presentation The unaudited consolidated financial statements include the accounts of Business First Bancshares, Inc. (the “Company”) and its wholly-owned subsidiaries, b1BANK In the opinion of management, the accompanying unaudited consolidated financial statements contain all adjustments necessary to present fairly the financial results for the periods presented, and all such adjustments are of a normal recurring nature. All material intercompany transactions are eliminated. The results of operations for the interim periods are not These interim consolidated financial statements have been prepared according to the rules and regulations of the Securities and Exchange Commission and, therefore, certain information and footnote disclosures normally presented in accordance with United States (“U.S.”) generally accepted accounting principles (“GAAP”) have been omitted or abbreviated. These interim financial statements should be read in conjunction with the audited consolidated financial statements and footnote disclosures for the Company’s previously filed Form 10 December 31, 2020. COVID- 19, no 19 Smith Shellnut Wilson, LLC (“SSW”) Acquisition. On March 22, 2021, b1BANK, April 1, 2021. Preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying disclosures. These estimates are based on management’s best knowledge of current events and actions the Company may not may not may |
Note 2 - Reclassifications -
Note 2 - Reclassifications - | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Reclassifications [Text Block] | Note 2 Reclassifications Certain reclassifications may 2021. no |
Note 3 - Mergers and Acquisitio
Note 3 - Mergers and Acquisitions - | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | Note 3 Mergers and Acquisitions On May 1, 2020, January 22, 2020, May 1, 2020, b1BANK. April 30, 2020, The following table reflects the consideration paid for Pedestal’s net assets and the identifiable assets purchased and liabilities assumed at their estimated fair values as of May 1, 2020. may one Cost and Allocation of Purchase Price for Pedestal Bancshares, Inc. (Pedestal): (Dollars in thousands, except per share data) Purchase Price: Shares Issued to Pedestal Shareholders on May 1, 2020 7,614,506 Closing Stock Price on May 1, 2020 $ 12.96 Total Purchase Price $ 98,684 Net Assets Acquired: Cash and Cash Equivalents $ 106,000 Securities Available for Sale 264,517 Loans and Leases Receivable 893,295 Premises and Equipment, Net 35,983 Cash Value of Life Insurance 11,522 Core Deposit Intangible 4,211 Other Assets 19,623 Total Assets 1,335,151 Deposits 1,177,137 Borrowings 59,399 Other Liabilities 5,189 Total Liabilities 1,241,725 Net Assets Acquired 93,426 Goodwill Resulting from Merger $ 5,258 The Company has recorded approximately $10,000 and $9.6 million of acquisition-related costs within merger and conversion-related expenses and salaries and benefits for the three March 31, 2021 December 31, 2020. The following is a description of the methods used to determine the fair values of significant assets acquired and liabilities assumed presented above. Cash and Cash Equivalents: Securities Available for Sale: not not Loans and Leases Receivable: not not Core Deposit Intangible: Deposits: Borrowings: The following unaudited supplemental pro forma information is presented to reflect estimated results assuming Pedestal was acquired as of January 1, 2020 three March 31, 2020. not January 1, 2020 not For The Three Months Ended March 31, 2021 2020 (Dollars in thousands, except per share data) Interest Income $ 44,262 $ 41,935 Interest Expense 3,961 7,521 Net Interest Income 40,301 34,414 Provision for Loan Losses 3,359 1,367 Net Interest Income after Provision for Loan Losses 36,942 33,047 Noninterest Income 5,083 6,378 Noninterest Expense 26,963 24,903 Income Before Income Taxes 15,062 14,522 Income Tax Expense 2,733 2,504 Net Income $ 12,329 $ 12,018 Earnings Per Common Share Basic $ 0.60 $ 0.57 Diluted $ 0.59 $ 0.57 This pro forma information combines the historical consolidated results of operations of the Company and Pedestal for the periods presented and gives effect to the following adjustments: Fair value adjustments: three March 31, 2020 Pedestal s provision for loan losses: three March 31, 2020, not Noninterest Expense: three March 31, 2020. Provision for Income Taxes three March 31, 2020 |
Note 4 - Earnings Per Common Sh
Note 4 - Earnings Per Common Share - | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | Note 4 Earnings per Common Share Basic earnings per share (“EPS”) represents income available to common shareholders divided by the weighted average number of common shares outstanding; no may two . For The Three Months Ended March 31, 2021 2020 (Dollars in thousands, except per share data) Numerator: Net Income Available to Common Shares $ 12,329 $ 4,499 Denominator: Weighted Average Common Shares Outstanding 20,621,930 13,313,154 Dilutive Effect of Stock Options and RSAs 116,083 54,122 Weighted Average Dilutive Common Shares 20,738,013 13,367,276 Basic Earnings Per Common Share From Net Income Available to Common Shares $ 0.60 $ 0.34 Diluted Earnings Per Common Share From Net Income Available to Common Shares $ 0.59 $ 0.34 |
Note 5 - Securities -
Note 5 - Securities - | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | Note 5 Securities The amortized cost and fair values of securities available for sale as of March 31, 2021 December 31, 2020 March 31, 2021 (Dollars in thousands) Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value U.S. Treasury Securities $ 7,394 $ - $ 7 $ 7,387 U.S. Government Agencies 2,554 5 - 2,559 Corporate Securities 40,763 652 97 41,318 Mortgage-Backed Securities 355,095 5,504 2,299 358,300 Municipal Securities 308,016 4,033 2,049 310,000 Other Securities 1,310 350 - 1,660 Total Securities Available for Sale $ 715,132 $ 10,544 $ 4,452 $ 721,224 December 31, 2020 (Dollars in thousands) Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value U.S. Government Agencies $ 2,567 $ 5 $ - $ 2,572 Corporate Securities 38,738 380 5 39,113 Mortgage-Backed Securities 288,373 6,893 247 295,019 Municipal Securities 296,262 6,097 106 302,253 Other Securities 1,440 208 - 1,648 Total Securities Available for Sale $ 627,380 $ 13,583 $ 358 $ 640,605 The following tables present a summary of securities with gross unrealized losses and fair values at March 31, 2021 December 31, 2020, March 31, 2021 Less Than 12 Months 12 Months or Greater Total (Dollars in thousands) Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses U.S. Treasury Securities $ 7,387 $ 7 $ - $ - $ 7,387 $ 7 U.S. Government Agencies - - - - - - Corporate Securities 6,311 97 - - 6,311 97 Mortgage-Backed Securities 168,507 2,298 70 1 168,577 2,299 Municipal Securities 123,134 2,045 414 4 123,548 2,049 Other Securities - - - - - - Total Securities Available for Sale $ 305,339 $ 4,447 $ 484 $ 5 $ 305,823 $ 4,452 December 31, 2020 Less Than 12 Months 12 Months or Greater Total (Dollars in thousands) Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses U.S. Government Agencies $ - $ - $ - $ - $ - $ - Corporate Securities 4,995 5 - - 4,995 5 Mortgage-Backed Securities 44,680 246 17 1 44,697 247 Municipal Securities 18,421 106 - - 18,421 106 Other Securities - - - - - - Total Securities Available for Sale $ 68,096 $ 357 $ 17 $ 1 $ 68,113 $ 358 Management evaluates securities for other than temporary impairment when economic and market conditions warrant such evaluations. Consideration is given to the extent and length of time the fair value has been below cost, the reasons for the decline in value, and the Company’s intent to sell a security or whether it is more likely than not The amortized cost and fair values of securities available for sale as of March 31, 2021 may may Amortized Fair Cost Value (Dollars in thousands) Less Than One Year $ 20,345 $ 20,497 One to Five Years 132,401 134,124 Over Five to Ten Years 310,544 314,022 Over Ten Years 251,842 252,581 Total Securities Available for Sale $ 715,132 $ 721,224 |
Note 6 - Loans and the Allowanc
Note 6 - Loans and the Allowance for Loan Losses - | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Financing Receivables [Text Block] | Note 6 Loans and the Allowance for Loan Losses Loans receivable at March 31, 2021 December 31, 2020 March 31, December 31, 2021 2020 (Dollars in thousands) Real estate loans: Construction and land $ 418,234 $ 403,065 Farmland 52,861 55,883 1-4 family residential 460,907 468,650 Multi-family residential 77,390 95,707 Nonfarm nonresidential 966,416 971,603 Commercial 962,099 886,325 Consumer 104,071 110,122 Total loans held for investment 3,041,978 2,991,355 Less: Allowance for loan losses (25,251 ) (22,024 ) Net loans $ 3,016,727 $ 2,969,331 Small Business Administration (“SBA”) Paycheck Protection Program (“PPP”) loans accounted for $385.8 million and $313.9 million of the commercial loan portfolio as of March 31, 2021 December 31, 2020, March 31, 2021 December 31, 2020, The performing 1 4 March 31, 2021 December 31, 2020. Net deferred loan origination fees were $14.9 million and $10.2 million at March 31, 2021 December 31, 2020, March 31, 2021 December 31, 2020, March 31, 2021 December 31, 2020, The Bank is the lead lender on participations sold, without recourse, to other financial institutions which amounts are not March 31, 2021 December 31, 2020, March 31, 2021 December 31, 2020, The Bank grants loans and extensions of credit to individuals and a variety of businesses and corporations located in its general market areas throughout Louisiana and Texas. Management segregates the loan portfolio into portfolio segments which is defined as the level at which the Bank develops and documents a systematic method for determining its allowance for loan losses. The portfolio segments are segregated based on loan types and the underlying risk factors present in each loan type. Such risk factors are periodically reviewed by management and revised as deemed appropriate. Loans acquired in business combinations are initially recorded at fair value, which includes an estimate of credit losses expected to be realized over the remaining lives of the loans and, therefore, no not Total loans held for investment at March 31, 2021 March 31, 2021 310 30, Loans and Debt Securities Acquired with Deteriorated Credit Quality 310 30” not 310 30 Total loans held for investment at December 31, 2020 December 31, 2020 310 30 not 310 30 The following tables set forth, as of March 31, 2021 December 31, 2020, not not Allowance for Credit Losses and Recorded Investment in Loans Receivable March 31, 2021 (Dollars in thousands) Real Estate: Real Estate: Real Estate: Real Estate: Construction Real Estate: 1-4 Family Multi-family Nonfarm and Land Farmland Residential Residential Nonresidential Commercial Consumer Total Allowance for credit losses: Beginning Balance $ 3,584 $ 600 $ 3,453 $ 818 $ 7,369 $ 5,018 $ 1,182 $ 22,024 Charge-offs - - (134 ) - (20 ) (87 ) (68 ) (309 ) Recoveries - 2 23 - 98 24 30 177 Provision 343 (119 ) 465 (162 ) 395 2,524 (87 ) 3,359 Ending Balance $ 3,927 $ 483 $ 3,807 $ 656 $ 7,842 $ 7,479 $ 1,057 $ 25,251 Ending Balance: Individually evaluated for impairment $ 26 $ 3 $ 117 $ - $ 129 $ 553 $ 103 $ 931 Collectively evaluated for impairment $ 3,901 $ 480 $ 3,690 $ 656 $ 7,713 $ 6,926 $ 954 $ 24,320 Purchased Credit Impaired (1) $ - $ - $ - $ - $ - $ - $ - $ - Loans receivable: Ending Balance $ 418,234 $ 52,861 $ 460,907 $ 77,390 $ 966,416 $ 962,099 $ 104,071 $ 3,041,978 Ending Balance: Individually evaluated for impairment $ 958 $ 236 $ 3,186 $ - $ 3,905 $ 6,392 $ 312 $ 14,989 Collectively evaluated for impairment $ 416,249 $ 52,558 $ 431,898 $ 77,390 $ 934,545 $ 950,942 $ 102,175 $ 2,965,757 Purchased Credit Impaired (1) $ 1,027 $ 67 $ 25,823 $ - $ 27,966 $ 4,765 $ 1,584 $ 61,232 ( 1 December 31, 2020 (Dollars in thousands) Real Estate: Real Estate: Real Estate: Real Estate: Construction Real Estate: 1-4 Family Multi-family Nonfarm and Land Farmland Residential Residential Nonresidential Commercial Consumer Total Allowance for credit losses: Beginning balance $ 1,868 $ 229 $ 1,888 $ 226 $ 3,882 $ 3,414 $ 617 $ 12,124 Charge-offs (26 ) (2 ) (387 ) - (232 ) (849 ) (467 ) (1,963 ) Recoveries 10 - 53 - 12 203 150 428 Provision 1,732 373 1,899 592 3,707 2,250 882 11,435 Ending Balance $ 3,584 $ 600 $ 3,453 $ 818 $ 7,369 $ 5,018 $ 1,182 $ 22,024 Ending Balance: Individually evaluated for impairment $ 27 $ 93 $ 62 $ - $ 119 $ 609 $ 104 $ 1,014 Collectively evaluated for impairment $ 3,557 $ 507 $ 3,391 $ 818 $ 7,250 $ 4,409 $ 1,078 $ 21,010 Purchased Credit Impaired (1) $ - $ - $ - $ - $ - $ - $ - $ - Loans receivable: Ending Balance $ 403,065 $ 55,883 $ 468,650 $ 95,707 $ 971,603 $ 886,325 $ 110,122 $ 2,991,355 Ending Balance: Individually evaluated for impairment $ 924 $ 299 $ 2,957 $ - $ 3,525 $ 5,517 $ 335 $ 13,557 Collectively evaluated for impairment $ 401,134 $ 55,516 $ 438,240 $ 95,707 $ 939,422 $ 875,611 $ 107,908 $ 2,913,538 Purchased Credit Impaired (1) $ 1,007 $ 68 $ 27,453 $ - $ 28,656 $ 5,197 $ 1,879 $ 64,260 ( 1 Portfolio Segment Risk Factors Construction and land include loans to small-to-midsized businesses to construct owner-user properties, loans to developers of commercial real estate investment properties and residential developments and, to a lesser extent, loans to individual clients for construction of single-family homes in our market areas. Risks associated with these loans include fluctuations in the value of real estate, project completion risk and change in market trends. We are also exposed to risk based on the ability of the construction loan borrower to finance the loan or sell the property upon completion of the project, which may Farmland loans are often for investments related to agricultural businesses and may One-to- four first second 1 4 Multi-family residential loans are generally originated to provide permanent financing for multi-family residential income producing properties. Repayment of these loans primarily relies on successful rental and management of the property. Nonfarm nonresidential loans are extensions of credit secured by owner-occupied and non-owner occupied collateral. Repayment is generally relied upon from the successful operations of the property. General economic conditions may Commercial loans include general commercial and industrial, or C&I, loans, including commercial lines of credit, working capital loans, term loans, equipment financing, asset acquisition, expansion and development loans, borrowing base loans, letters of credit and other loan products, primarily in our target markets that are underwritten on the basis of the borrower’s ability to service the debt from income. Commercial loan risk is derived from the expectation that such loans generally are serviced principally from the operations of the business, and those operations may not may not Consumer loans include a variety of loans to individuals for personal, family and household purposes, including secured and unsecured installment and term loans. The risk is based on changes in the borrower’s financial condition, which could be affected by numerous factors, including divorce, job loss, illness or other personal hardship, and fluctuations in the value of the real estate or personal property securing the consumer loan, if any. Within the commercial and consumer loans are 100% Management further disaggregates the loan portfolio segments into classes of loans, which are based on the initial measurement of the loan, risk characteristics of the loan and the method for monitoring and assessing the credit risk of the loan. As of March 31, 2021 December 31, 2020, Credit Quality Indicators March 31, 2021 Pass Special Mention Substandard Doubtful Total (Dollars in thousands) Real Estate Loans: Construction and land $ 414,941 $ 809 $ 1,526 $ 958 $ 418,234 Farmland 50,933 1,625 - 303 52,861 1-4 family residential 440,800 10,074 5,343 4,690 460,907 Multi-family residential 77,055 308 27 - 77,390 Nonfarm nonresidential 944,976 11,940 3,287 6,213 966,416 Commercial 933,997 17,311 5,975 4,816 962,099 Consumer 101,881 1,255 460 475 104,071 Total $ 2,964,583 $ 43,322 $ 16,618 $ 17,455 $ 3,041,978 December 31, 2020 Pass Special Mention Substandard Doubtful Total (Dollars in thousands) Real Estate Loans: Construction and land $ 400,027 $ 912 $ 1,202 $ 924 $ 403,065 Farmland 53,874 1,642 - 367 55,883 1-4 family residential 450,702 9,290 4,913 3,745 468,650 Multi-family residential 95,359 320 28 - 95,707 Nonfarm nonresidential 949,245 12,810 3,473 6,075 971,603 Commercial 859,851 16,832 7,325 2,317 886,325 Consumer 107,449 1,970 229 474 110,122 Total $ 2,916,507 $ 43,776 $ 17,170 $ 13,902 $ 2,991,355 The above classifications follow regulatory guidelines and can generally be described as follows: ● Pass loans are of satisfactory quality. ● Special mention loans have an existing weakness that could cause future impairment, including the deterioration of financial ratios, past due status, questionable management capabilities and possible reduction in the collateral values. ● Substandard loans have an existing specific and well-defined weakness that may may ● Doubtful loans have specific weaknesses that are severe enough to make collection or liquidation in full highly questionable and improbable. As of March 31, 2021 December 31, 2020, 90 March 31, 2021 December 31, 2020, 90 The following tables provide an analysis of the aging of loans and leases as of March 31, 2021 December 31, 2020. not 90 Aged Analysis of Past Due Loans Receivable March 31, 2021 (Dollars in thousands) Recorded Greater Investment Over 30-59 Days 60-89 Days Than 90 Days Total Total Loans 90 Days Past Due Past Due Past Due Past Due Past Due Current Receivable and Still Accruing Real Estate Loans: Construction and land $ 530 $ 526 $ 1,008 $ 2,064 $ 416,170 $ 418,234 $ 73 Farmland - - 142 142 52,719 52,861 - 1-4 family residential 2,929 621 2,268 5,818 455,089 460,907 756 Multi-family residential - - - - 77,390 77,390 - Nonfarm nonresidential 846 36 2,544 3,426 962,990 966,416 418 Commercial 769 473 3,977 5,219 956,880 962,099 228 Consumer 140 60 240 440 103,631 104,071 4 Total $ 5,214 $ 1,716 $ 10,179 $ 17,109 $ 3,024,869 $ 3,041,978 $ 1,479 December 31, 2020 (Dollars in thousands) Recorded Greater Investment Over 30-59 Days 60-89 Days Than 90 Days Total Total Loans 90 Days Past Due Past Due Past Due Past Due Past Due Current Receivable and Still Accruing Real Estate Loans: Construction and land $ 874 $ 75 $ 972 $ 1,921 $ 401,144 $ 403,065 $ 72 Farmland - 11 289 300 55,583 55,883 - 1-4 family residential 3,162 1,160 1,927 6,249 462,401 468,650 603 Multi-family residential - - - - 95,707 95,707 - Nonfarm nonresidential 2,651 1,049 2,514 6,214 965,389 971,603 315 Commercial 2,618 549 1,925 5,092 881,233 886,325 511 Consumer 389 33 283 705 109,417 110,122 22 Total $ 9,694 $ 2,877 $ 7,910 $ 20,481 $ 2,970,874 $ 2,991,355 $ 1,523 The following is a summary of information pertaining to impaired loans as of March 31, 2021 December 31, 2020. three March 31, 2021 December 31, 2020, March 31, 2021 (Dollars in thousands) Unpaid Average Recorded Principal Related Recorded Investment Balance Allowance Investment With an allowance recorded: Real Estate Loans: Construction and land $ 26 $ 27 $ 26 $ 18 Farmland 19 21 3 49 1-4 family residential 518 545 117 365 Multi-family residential - - - - Nonfarm nonresidential 445 446 129 777 Other Loans: - Commercial 1,337 1,449 553 1,998 Consumer 131 153 103 124 Total $ 2,476 $ 2,641 $ 931 $ 3,331 With no allowance recorded: Real Estate Loans: Construction and land $ 932 $ 975 $ - $ 926 Farmland 217 220 - 226 1-4 family residential 2,668 3,405 - 2,813 Multi-family residential - - - - Nonfarm nonresidential 3,460 3,948 - 3,405 Other Loans: Commercial 5,055 5,091 - 4,499 Consumer 181 217 - 192 Total $ 12,513 $ 13,856 $ - $ 12,061 Total Impaired Loans: Real Estate Loans: Construction and land $ 958 $ 1,002 $ 26 $ 944 Farmland 236 241 3 275 1-4 family residential 3,186 3,950 117 3,178 Multi-family residential - - - - Nonfarm nonresidential 3,905 4,394 129 4,182 Other Loans: Commercial 6,392 6,540 553 6,497 Consumer 312 370 103 316 Total $ 14,989 $ 16,497 $ 931 $ 15,392 December 31, 2020 (Dollars in thousands) Unpaid Average Recorded Principal Related Recorded Investment Balance Allowance Investment With an allowance recorded: Real Estate Loans: Construction and land $ 27 $ 27 $ 27 $ 2 Farmland 109 112 93 27 1-4 family residential 337 361 62 361 Multi-family residential - - - - Nonfarm nonresidential 457 457 119 652 Other Loans: Commercial 2,530 2,636 609 1,655 Consumer 133 145 104 158 Total $ 3,593 $ 3,738 $ 1,014 $ 2,855 With no allowance recorded: Real Estate Loans: Construction and land $ 897 $ 939 $ - $ 520 Farmland 190 197 - 208 1-4 family residential 2,620 3,388 - 3,091 Multi-family residential - - - - Nonfarm nonresidential 3,068 3,534 - 3,325 Other Loans: Commercial 2,987 3,017 - 3,569 Consumer 202 239 - 324 Total $ 9,964 $ 11,314 $ - $ 11,037 Total Impaired Loans: Real Estate Loans: Construction and land $ 924 $ 966 $ 27 $ 522 Farmland 299 309 93 235 1-4 family residential 2,957 3,749 62 3,452 Multi-family residential - - - - Nonfarm nonresidential 3,525 3,991 119 3,977 Other Loans: Commercial 5,517 5,653 609 5,224 Consumer 335 384 104 482 Total $ 13,557 $ 15,052 $ 1,014 $ 13,892 As discussed in Note 3, May 1, 2020. $893.3 no 310 10 310 20. May 1, 2020. 310 30. The following table presents the balances acquired on May 1, 2020 310 30. Purchased Impaired Credits (Dollars in thousands) Contractually required payments $ 133,621 Non-accretable difference (expected losses) (49,828 ) Cash flows expected to be collected at acquisition 83,793 Accretable yield (9,202 ) Basis in acquired loans at acquisition $ 74,591 The following is a summary of changes in the accretable difference for loans accounted for under ASC 310 30 three March 31, 2021: Balance at December 31, 2020 $ 15,853 Transfers from non-accretable difference to accretable yield 2,333 Accretion (330 ) Changes in expected cash flows not affecting non-accretable differences (1,421 ) Balance at March 31, 2021 $ 16,435 The Bank seeks to assist customers that are experiencing financial difficulty by renegotiating loans within lending regulations and guidelines. The Bank makes loan modifications, primarily utilizing internal renegotiation programs via direct customer contact, that manage customers’ debt exposures held only by the Bank. Additionally, the Bank makes loan modifications with customers who have elected to work with external renegotiation agencies and these modifications provide solutions to customers’ entire unsecured debt structures. During the periods ended March 31, 2021 December 31, 2020, Once modified in a troubled debt restructuring, a loan is generally considered impaired until its contractual maturity. At the time of the restructuring, the loan is evaluated for an allowance for credit losses. The Bank continues to specifically reevaluate the loan in subsequent periods, regardless of the borrower’s performance under the modified terms. If a borrower subsequently defaults on the loan after it is restructured, the Bank provides an allowance for credit losses for the amount of the loan that exceeds the value of the related collateral. The following tables present informative data regarding troubled debt restructurings as of March 31, 2021 December 31, 2020. Modifications as of March 31, 2021: Pre-Modification Post-Modification Number Outstanding Outstanding of Recorded Recorded Contracts Investment Investment (Dollars in thousands) Troubled Debt Restructuring Real Estate Loans: 1-4 family residential 4 $ 268 $ 214 Nonfarm nonresidential 5 4,627 3,377 Other Loans: Commercial 7 5,150 2,644 Consumer 3 18 6 Total 19 $ 10,063 $ 6,241 Modifications as of December 31, 2020: Pre-Modification Post-Modification Number Outstanding Outstanding of Recorded Recorded Contracts Investment Investment (Dollars in thousands) Troubled Debt Restructuring Real Estate Loans: 1-4 family residential 4 $ 268 $ 215 Nonfarm nonresidential 5 4,627 4,204 Other Loans: Commercial 7 5,150 4,094 Consumer 3 18 8 Total 19 $ 10,063 $ 8,521 The Company had no troubled debt restructurings that had subsequently defaulted during the three March 31, 2021 one December 31, 2020. no three March 31, 2021, December 31, 2020, seven Through March 31, 2021, 2020. March 31, 2021, 4013 2021, none 19 March 31, 2021. Payment deferrals with an outstanding principal balance of $829.1 million had been granted as of December 31, 2020, 19 December 31, 2020, 4013 none 19 December 31, 2020. Accrued interest receivable of $8.0 million and $8.4 million was outstanding as of March 31, 2021 December 31, 2020, 19 |
Note 7 - Long Term Debt -
Note 7 - Long Term Debt - | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Long-term Debt [Text Block] | Note 7 Long Term Debt On March 26, 2021, March 31, 2026 2031. |
Note 8 - Leases -
Note 8 - Leases - | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | Note 8 Leases The Bank leases certain branch offices through non-cancelable operating leases with terms that range from one ten three March 31, 2021 2020, March 31, 2021, Future minimum lease payments under these leases are as follows: (Dollars in thousands) April 1, 2021 through March 31, 2022 $ 1,676 April 1, 2022 through March 31, 2023 2,065 April 1, 2023 through March 31, 2024 1,957 April 1, 2024 through March 31, 2025 1,759 April 1, 2025 through March 31, 2026 1,635 April 1, 2026 and Thereafter 5,232 Total Future Minimum Lease Payments 14,324 Less Imputed Interest (1,451 ) Present Value of Lease Liabilities $ 12,873 |
Note 9 - Commitments and Contin
Note 9 - Commitments and Contingencies - | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Commitments Disclosure [Text Block] | Note 9 Commitments and Contingencies In the normal course of business, the Bank is a party to financial instruments with off-balance-sheet risk to meet the financing needs of its customers. These financial instruments include commitments to extend credit and standby and commercial letters of credit which are not The Bank’s exposure to credit loss in the event of nonperformance by the other party to the financial instrument for commitments to extend credit and standby and commercial letters of credit is represented by the contractual amount of those instruments. The Bank’s policy for obtaining collateral, and the nature of such collateral, is essentially the same as that involved in making commitments to extend credit. The Bank uses the same credit policies in making such commitments and conditional obligations as it does for instruments that are included in the balance sheet. In the normal course of business, the Bank has made commitments to extend credit of approximately $715.1 million and standby and commercial letters of credit of approximately $22.4 million at March 31, 2021. In the normal course of business, the Bank is involved in various legal proceedings. In the opinion of management and counsel, the disposition or ultimate resolution of such proceedings would not |
Note 10 - Fair Value of Financi
Note 10 - Fair Value of Financial Instruments - | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 10 Fair Value of Financial Instruments Fair Value Disclosures The Company groups its financial assets and liabilities measured at fair value in three three ● Level 1 ● Level 2 ● Level 3 Recurring Basis Fair values of investment securities available for sale were primarily measured using information from a third The fair values of mortgage loans held for sale are based on commitments on hand from investors within the secondary market for loans with similar characteristics. The following tables present the balance of assets and liabilities measured on a recurring basis as of March 31, 2021 December 31, 2020. not Fair Value Level 1 Level 2 Level 3 (Dollars in thousands) March 31, 2021 Available for Sale: U.S. Treasury Securities $ 7,387 $ - $ 7,387 $ - U.S. Government Agency Securities 2,559 - 2,559 - Corporate Securities 41,318 - 24,163 17,155 Mortgage-Backed Securities 358,300 - 355,001 3,299 Municipal Securities 310,000 - 289,449 20,551 Other Securities 1,660 - 1,660 - Mortgage Loans Held for Sale 2,298 - 2,298 - Servicing Rights 2,019 - 2,019 - Total $ 725,541 $ - $ 684,536 $ 41,005 December 31, 2020 Available for Sale: U.S. Government Agency Securities $ 2,572 $ - $ 2,572 $ - Corporate Securities 39,113 - 21,959 17,154 Mortgage-Backed Securities 295,019 - 295,019 - Municipal Securities 302,253 - 274,067 28,186 Other Securities 1,648 - 1,648 - Mortgage Loans Held for Sale 969 - 969 - Servicing Rights 1,439 - 1,439 - Total $ 643,013 $ - $ 597,673 $ 45,340 Nonrecurring Basis The Company has segregated all financial assets and liabilities that are measured at fair value on a nonrecurring basis into the most appropriate level within the fair value hierarchy based on the inputs used to determine the fair value at the measurement date in the table below. The Company did not The fair value of the impaired loans is measured at the fair value of the collateral for collateral-dependent loans. Impaired loans are Level 3 may 3. Fair Value Level 1 Level 2 Level 3 (Dollars in thousands) March 31, 2021 Assets: Impaired Loans $ 18,770 $ - $ - $ 18,770 Repossessed Assets 9,474 - - 9,474 Total $ 28,244 $ - $ - $ 28,244 December 31, 2020 Assets: Impaired Loans $ 11,755 $ - $ - $ 11,755 Repossessed Assets 9,453 - - 9,453 Total $ 21,208 $ - $ - $ 21,208 The following table provides quantitative information for impaired loans measured at fair value on a nonrecurring basis using Level 3 Valuation Unobservable Discounted Range (Weighted Average) Technique Input March 31, 2021 December 31, 2020 Impaired Loans Discounted Appraisals Appraisal Adjustments 10% to 100% (17%) 10% to 100% (19%) Fair Value Financial Instruments The fair value of a financial instrument is the current amount that would be exchanged between willing parties, other than in a forced liquidation. Fair value is best determined based upon quoted market prices. However, in many instances, there are no not may not may not The following methods and assumptions were used to estimate the fair value of each class of financial instruments for which it is practicable to estimate that value: Cash and Short-Term Investments – For those short-term instruments, the carrying amount is a reasonable estimate of fair value. Securities – Fair value of securities is based on quoted market prices. If a quoted market price is not Loans – The fair value for loans is estimated using discounted cash flow analyses, with interest rates currently being offered for similar loans to borrowers with similar credit rates. Loans with similar classifications are aggregated for purposes of the calculations. The allowance for loan losses, which was used to measure the credit risk, is subtracted from loans. Cash Value of Bank-Owned Life Insurance (“BOLI”) – The carrying amount approximates its fair value. Other Equity Securities – The carrying amount approximates its fair value. Deposits – The fair value of demand deposits and certain money market deposits is the amount payable at the reporting date. The fair value of fixed-maturity certificates of deposit is estimated using discounted cash flow analyses, with interest rates currently offered for deposits of similar remaining maturities. Borrowings – The fair value of FHLB advances and other long-term borrowings is estimated using the rates currently offered for advances of similar maturities. The carrying amount of short-term borrowings maturing within ninety Commitments to Extend Credit and Standby and Commercial Letters of Credit – The fair values of commitments to extend credit and standby and commercial letters of credit do not The estimated approximate fair values of the Bank’s financial instruments as of March 31, 2021 December 31, 2020 Carrying Total Amount Fair Value Level 1 Level 2 Level 3 (Dollars in thousands) March 31, 2021 Financial Assets: Cash and Short-Term Investments $ 460,852 $ 460,852 $ 460,852 $ - $ - Securities 721,224 721,224 - 680,219 41,005 Mortgage Loans Held for Sale 2,298 2,298 - 2,298 - Loans - Net 3,016,727 3,018,067 - - 3,018,067 Servicing Rights 1,203 2,019 - 2,019 - Cash Value of BOLI 60,348 60,348 - 60,348 - Other Equity Securities 12,584 12,584 - - 12,584 Total $ 4,275,236 $ 4,277,392 $ 460,852 $ 744,884 $ 3,071,656 Financial Liabilities: Deposits $ 3,858,734 $ 3,857,245 $ - $ - $ 3,857,245 Borrowings 137,012 143,461 - 143,461 - Total $ 3,995,746 $ 4,000,706 $ - $ 143,461 $ 3,857,245 Carrying Total Amount Fair Value Level 1 Level 2 Level 3 (Dollars in thousands) December 31, 2020 Financial Assets: Cash and Short-Term Investments $ 323,283 $ 323,283 $ 323,283 $ - $ - Securities 640,605 640,605 - 595,265 45,340 Mortgage Loans Held for Sale 969 969 - 969 - Loans - Net 2,969,331 2,969,619 - - 2,969,619 Servicing Rights 1,439 1,439 1,439 - Cash Value of BOLI 45,030 45,030 - 45,030 - Other Equity Securities 12,693 12,693 - - 12,693 Total $ 3,993,350 $ 3,993,638 $ 323,283 $ 642,703 $ 3,027,652 Financial Liabilities: Deposits $ 3,616,679 $ 3,623,253 $ - $ - $ 3,623,253 Borrowings 105,990 127,171 - 127,171 - Total $ 3,722,669 $ 3,750,424 $ - $ 127,171 $ 3,623,253 |
Note 11 - Recently Issued Accou
Note 11 - Recently Issued Accounting Pronouncements - | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Accounting Standards Update and Change in Accounting Principle [Text Block] | Note 11 Recently Issued Accounting Pronouncements Accounting Standards Adopted in Current Period None Accounting Standards Not In June 2016, 2016 13, Financial Instruments Credit Losses (Topic 326 not may first October 18, 2019, January 2023 October 18, 2019. may |
Note 3 - Mergers and Acquisit_2
Note 3 - Mergers and Acquisitions - (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | Cost and Allocation of Purchase Price for Pedestal Bancshares, Inc. (Pedestal): (Dollars in thousands, except per share data) Purchase Price: Shares Issued to Pedestal Shareholders on May 1, 2020 7,614,506 Closing Stock Price on May 1, 2020 $ 12.96 Total Purchase Price $ 98,684 Net Assets Acquired: Cash and Cash Equivalents $ 106,000 Securities Available for Sale 264,517 Loans and Leases Receivable 893,295 Premises and Equipment, Net 35,983 Cash Value of Life Insurance 11,522 Core Deposit Intangible 4,211 Other Assets 19,623 Total Assets 1,335,151 Deposits 1,177,137 Borrowings 59,399 Other Liabilities 5,189 Total Liabilities 1,241,725 Net Assets Acquired 93,426 Goodwill Resulting from Merger $ 5,258 |
Business Acquisition, Pro Forma Information [Table Text Block] | For The Three Months Ended March 31, 2021 2020 (Dollars in thousands, except per share data) Interest Income $ 44,262 $ 41,935 Interest Expense 3,961 7,521 Net Interest Income 40,301 34,414 Provision for Loan Losses 3,359 1,367 Net Interest Income after Provision for Loan Losses 36,942 33,047 Noninterest Income 5,083 6,378 Noninterest Expense 26,963 24,903 Income Before Income Taxes 15,062 14,522 Income Tax Expense 2,733 2,504 Net Income $ 12,329 $ 12,018 Earnings Per Common Share Basic $ 0.60 $ 0.57 Diluted $ 0.59 $ 0.57 |
Note 4 - Earnings Per Common _2
Note 4 - Earnings Per Common Share - (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | For The Three Months Ended March 31, 2021 2020 (Dollars in thousands, except per share data) Numerator: Net Income Available to Common Shares $ 12,329 $ 4,499 Denominator: Weighted Average Common Shares Outstanding 20,621,930 13,313,154 Dilutive Effect of Stock Options and RSAs 116,083 54,122 Weighted Average Dilutive Common Shares 20,738,013 13,367,276 Basic Earnings Per Common Share From Net Income Available to Common Shares $ 0.60 $ 0.34 Diluted Earnings Per Common Share From Net Income Available to Common Shares $ 0.59 $ 0.34 |
Note 5 - Securities - (Tables)
Note 5 - Securities - (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | March 31, 2021 (Dollars in thousands) Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value U.S. Treasury Securities $ 7,394 $ - $ 7 $ 7,387 U.S. Government Agencies 2,554 5 - 2,559 Corporate Securities 40,763 652 97 41,318 Mortgage-Backed Securities 355,095 5,504 2,299 358,300 Municipal Securities 308,016 4,033 2,049 310,000 Other Securities 1,310 350 - 1,660 Total Securities Available for Sale $ 715,132 $ 10,544 $ 4,452 $ 721,224 December 31, 2020 (Dollars in thousands) Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value U.S. Government Agencies $ 2,567 $ 5 $ - $ 2,572 Corporate Securities 38,738 380 5 39,113 Mortgage-Backed Securities 288,373 6,893 247 295,019 Municipal Securities 296,262 6,097 106 302,253 Other Securities 1,440 208 - 1,648 Total Securities Available for Sale $ 627,380 $ 13,583 $ 358 $ 640,605 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Table Text Block] | March 31, 2021 Less Than 12 Months 12 Months or Greater Total (Dollars in thousands) Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses U.S. Treasury Securities $ 7,387 $ 7 $ - $ - $ 7,387 $ 7 U.S. Government Agencies - - - - - - Corporate Securities 6,311 97 - - 6,311 97 Mortgage-Backed Securities 168,507 2,298 70 1 168,577 2,299 Municipal Securities 123,134 2,045 414 4 123,548 2,049 Other Securities - - - - - - Total Securities Available for Sale $ 305,339 $ 4,447 $ 484 $ 5 $ 305,823 $ 4,452 December 31, 2020 Less Than 12 Months 12 Months or Greater Total (Dollars in thousands) Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses U.S. Government Agencies $ - $ - $ - $ - $ - $ - Corporate Securities 4,995 5 - - 4,995 5 Mortgage-Backed Securities 44,680 246 17 1 44,697 247 Municipal Securities 18,421 106 - - 18,421 106 Other Securities - - - - - - Total Securities Available for Sale $ 68,096 $ 357 $ 17 $ 1 $ 68,113 $ 358 |
Investments Classified by Contractual Maturity Date [Table Text Block] | Amortized Fair Cost Value (Dollars in thousands) Less Than One Year $ 20,345 $ 20,497 One to Five Years 132,401 134,124 Over Five to Ten Years 310,544 314,022 Over Ten Years 251,842 252,581 Total Securities Available for Sale $ 715,132 $ 721,224 |
Note 6 - Loans and the Allowa_2
Note 6 - Loans and the Allowance for Loan Losses - (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | March 31, December 31, 2021 2020 (Dollars in thousands) Real estate loans: Construction and land $ 418,234 $ 403,065 Farmland 52,861 55,883 1-4 family residential 460,907 468,650 Multi-family residential 77,390 95,707 Nonfarm nonresidential 966,416 971,603 Commercial 962,099 886,325 Consumer 104,071 110,122 Total loans held for investment 3,041,978 2,991,355 Less: Allowance for loan losses (25,251 ) (22,024 ) Net loans $ 3,016,727 $ 2,969,331 |
Financing Receivable, Allowance for Credit Loss [Table Text Block] | March 31, 2021 (Dollars in thousands) Real Estate: Real Estate: Real Estate: Real Estate: Construction Real Estate: 1-4 Family Multi-family Nonfarm and Land Farmland Residential Residential Nonresidential Commercial Consumer Total Allowance for credit losses: Beginning Balance $ 3,584 $ 600 $ 3,453 $ 818 $ 7,369 $ 5,018 $ 1,182 $ 22,024 Charge-offs - - (134 ) - (20 ) (87 ) (68 ) (309 ) Recoveries - 2 23 - 98 24 30 177 Provision 343 (119 ) 465 (162 ) 395 2,524 (87 ) 3,359 Ending Balance $ 3,927 $ 483 $ 3,807 $ 656 $ 7,842 $ 7,479 $ 1,057 $ 25,251 Ending Balance: Individually evaluated for impairment $ 26 $ 3 $ 117 $ - $ 129 $ 553 $ 103 $ 931 Collectively evaluated for impairment $ 3,901 $ 480 $ 3,690 $ 656 $ 7,713 $ 6,926 $ 954 $ 24,320 Purchased Credit Impaired (1) $ - $ - $ - $ - $ - $ - $ - $ - Loans receivable: Ending Balance $ 418,234 $ 52,861 $ 460,907 $ 77,390 $ 966,416 $ 962,099 $ 104,071 $ 3,041,978 Ending Balance: Individually evaluated for impairment $ 958 $ 236 $ 3,186 $ - $ 3,905 $ 6,392 $ 312 $ 14,989 Collectively evaluated for impairment $ 416,249 $ 52,558 $ 431,898 $ 77,390 $ 934,545 $ 950,942 $ 102,175 $ 2,965,757 Purchased Credit Impaired (1) $ 1,027 $ 67 $ 25,823 $ - $ 27,966 $ 4,765 $ 1,584 $ 61,232 December 31, 2020 (Dollars in thousands) Real Estate: Real Estate: Real Estate: Real Estate: Construction Real Estate: 1-4 Family Multi-family Nonfarm and Land Farmland Residential Residential Nonresidential Commercial Consumer Total Allowance for credit losses: Beginning balance $ 1,868 $ 229 $ 1,888 $ 226 $ 3,882 $ 3,414 $ 617 $ 12,124 Charge-offs (26 ) (2 ) (387 ) - (232 ) (849 ) (467 ) (1,963 ) Recoveries 10 - 53 - 12 203 150 428 Provision 1,732 373 1,899 592 3,707 2,250 882 11,435 Ending Balance $ 3,584 $ 600 $ 3,453 $ 818 $ 7,369 $ 5,018 $ 1,182 $ 22,024 Ending Balance: Individually evaluated for impairment $ 27 $ 93 $ 62 $ - $ 119 $ 609 $ 104 $ 1,014 Collectively evaluated for impairment $ 3,557 $ 507 $ 3,391 $ 818 $ 7,250 $ 4,409 $ 1,078 $ 21,010 Purchased Credit Impaired (1) $ - $ - $ - $ - $ - $ - $ - $ - Loans receivable: Ending Balance $ 403,065 $ 55,883 $ 468,650 $ 95,707 $ 971,603 $ 886,325 $ 110,122 $ 2,991,355 Ending Balance: Individually evaluated for impairment $ 924 $ 299 $ 2,957 $ - $ 3,525 $ 5,517 $ 335 $ 13,557 Collectively evaluated for impairment $ 401,134 $ 55,516 $ 438,240 $ 95,707 $ 939,422 $ 875,611 $ 107,908 $ 2,913,538 Purchased Credit Impaired (1) $ 1,007 $ 68 $ 27,453 $ - $ 28,656 $ 5,197 $ 1,879 $ 64,260 |
Financing Receivable Credit Quality Indicators [Table Text Block] | March 31, 2021 Pass Special Mention Substandard Doubtful Total (Dollars in thousands) Real Estate Loans: Construction and land $ 414,941 $ 809 $ 1,526 $ 958 $ 418,234 Farmland 50,933 1,625 - 303 52,861 1-4 family residential 440,800 10,074 5,343 4,690 460,907 Multi-family residential 77,055 308 27 - 77,390 Nonfarm nonresidential 944,976 11,940 3,287 6,213 966,416 Commercial 933,997 17,311 5,975 4,816 962,099 Consumer 101,881 1,255 460 475 104,071 Total $ 2,964,583 $ 43,322 $ 16,618 $ 17,455 $ 3,041,978 December 31, 2020 Pass Special Mention Substandard Doubtful Total (Dollars in thousands) Real Estate Loans: Construction and land $ 400,027 $ 912 $ 1,202 $ 924 $ 403,065 Farmland 53,874 1,642 - 367 55,883 1-4 family residential 450,702 9,290 4,913 3,745 468,650 Multi-family residential 95,359 320 28 - 95,707 Nonfarm nonresidential 949,245 12,810 3,473 6,075 971,603 Commercial 859,851 16,832 7,325 2,317 886,325 Consumer 107,449 1,970 229 474 110,122 Total $ 2,916,507 $ 43,776 $ 17,170 $ 13,902 $ 2,991,355 |
Financing Receivable, Past Due [Table Text Block] | March 31, 2021 (Dollars in thousands) Recorded Greater Investment Over 30-59 Days 60-89 Days Than 90 Days Total Total Loans 90 Days Past Due Past Due Past Due Past Due Past Due Current Receivable and Still Accruing Real Estate Loans: Construction and land $ 530 $ 526 $ 1,008 $ 2,064 $ 416,170 $ 418,234 $ 73 Farmland - - 142 142 52,719 52,861 - 1-4 family residential 2,929 621 2,268 5,818 455,089 460,907 756 Multi-family residential - - - - 77,390 77,390 - Nonfarm nonresidential 846 36 2,544 3,426 962,990 966,416 418 Commercial 769 473 3,977 5,219 956,880 962,099 228 Consumer 140 60 240 440 103,631 104,071 4 Total $ 5,214 $ 1,716 $ 10,179 $ 17,109 $ 3,024,869 $ 3,041,978 $ 1,479 December 31, 2020 (Dollars in thousands) Recorded Greater Investment Over 30-59 Days 60-89 Days Than 90 Days Total Total Loans 90 Days Past Due Past Due Past Due Past Due Past Due Current Receivable and Still Accruing Real Estate Loans: Construction and land $ 874 $ 75 $ 972 $ 1,921 $ 401,144 $ 403,065 $ 72 Farmland - 11 289 300 55,583 55,883 - 1-4 family residential 3,162 1,160 1,927 6,249 462,401 468,650 603 Multi-family residential - - - - 95,707 95,707 - Nonfarm nonresidential 2,651 1,049 2,514 6,214 965,389 971,603 315 Commercial 2,618 549 1,925 5,092 881,233 886,325 511 Consumer 389 33 283 705 109,417 110,122 22 Total $ 9,694 $ 2,877 $ 7,910 $ 20,481 $ 2,970,874 $ 2,991,355 $ 1,523 |
Impaired Financing Receivables [Table Text Block] | March 31, 2021 (Dollars in thousands) Unpaid Average Recorded Principal Related Recorded Investment Balance Allowance Investment With an allowance recorded: Real Estate Loans: Construction and land $ 26 $ 27 $ 26 $ 18 Farmland 19 21 3 49 1-4 family residential 518 545 117 365 Multi-family residential - - - - Nonfarm nonresidential 445 446 129 777 Other Loans: - Commercial 1,337 1,449 553 1,998 Consumer 131 153 103 124 Total $ 2,476 $ 2,641 $ 931 $ 3,331 With no allowance recorded: Real Estate Loans: Construction and land $ 932 $ 975 $ - $ 926 Farmland 217 220 - 226 1-4 family residential 2,668 3,405 - 2,813 Multi-family residential - - - - Nonfarm nonresidential 3,460 3,948 - 3,405 Other Loans: Commercial 5,055 5,091 - 4,499 Consumer 181 217 - 192 Total $ 12,513 $ 13,856 $ - $ 12,061 Total Impaired Loans: Real Estate Loans: Construction and land $ 958 $ 1,002 $ 26 $ 944 Farmland 236 241 3 275 1-4 family residential 3,186 3,950 117 3,178 Multi-family residential - - - - Nonfarm nonresidential 3,905 4,394 129 4,182 Other Loans: Commercial 6,392 6,540 553 6,497 Consumer 312 370 103 316 Total $ 14,989 $ 16,497 $ 931 $ 15,392 December 31, 2020 (Dollars in thousands) Unpaid Average Recorded Principal Related Recorded Investment Balance Allowance Investment With an allowance recorded: Real Estate Loans: Construction and land $ 27 $ 27 $ 27 $ 2 Farmland 109 112 93 27 1-4 family residential 337 361 62 361 Multi-family residential - - - - Nonfarm nonresidential 457 457 119 652 Other Loans: Commercial 2,530 2,636 609 1,655 Consumer 133 145 104 158 Total $ 3,593 $ 3,738 $ 1,014 $ 2,855 With no allowance recorded: Real Estate Loans: Construction and land $ 897 $ 939 $ - $ 520 Farmland 190 197 - 208 1-4 family residential 2,620 3,388 - 3,091 Multi-family residential - - - - Nonfarm nonresidential 3,068 3,534 - 3,325 Other Loans: Commercial 2,987 3,017 - 3,569 Consumer 202 239 - 324 Total $ 9,964 $ 11,314 $ - $ 11,037 Total Impaired Loans: Real Estate Loans: Construction and land $ 924 $ 966 $ 27 $ 522 Farmland 299 309 93 235 1-4 family residential 2,957 3,749 62 3,452 Multi-family residential - - - - Nonfarm nonresidential 3,525 3,991 119 3,977 Other Loans: Commercial 5,517 5,653 609 5,224 Consumer 335 384 104 482 Total $ 13,557 $ 15,052 $ 1,014 $ 13,892 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Table Text Block] | Purchased Impaired Credits (Dollars in thousands) Contractually required payments $ 133,621 Non-accretable difference (expected losses) (49,828 ) Cash flows expected to be collected at acquisition 83,793 Accretable yield (9,202 ) Basis in acquired loans at acquisition $ 74,591 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Table Text Block] | Balance at December 31, 2020 $ 15,853 Transfers from non-accretable difference to accretable yield 2,333 Accretion (330 ) Changes in expected cash flows not affecting non-accretable differences (1,421 ) Balance at March 31, 2021 $ 16,435 |
Financing Receivable, Troubled Debt Restructuring [Table Text Block] | Modifications as of March 31, 2021: Pre-Modification Post-Modification Number Outstanding Outstanding of Recorded Recorded Contracts Investment Investment (Dollars in thousands) Troubled Debt Restructuring Real Estate Loans: 1-4 family residential 4 $ 268 $ 214 Nonfarm nonresidential 5 4,627 3,377 Other Loans: Commercial 7 5,150 2,644 Consumer 3 18 6 Total 19 $ 10,063 $ 6,241 Modifications as of December 31, 2020: Pre-Modification Post-Modification Number Outstanding Outstanding of Recorded Recorded Contracts Investment Investment (Dollars in thousands) Troubled Debt Restructuring Real Estate Loans: 1-4 family residential 4 $ 268 $ 215 Nonfarm nonresidential 5 4,627 4,204 Other Loans: Commercial 7 5,150 4,094 Consumer 3 18 8 Total 19 $ 10,063 $ 8,521 |
Note 8 - Leases - (Tables)
Note 8 - Leases - (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | (Dollars in thousands) April 1, 2021 through March 31, 2022 $ 1,676 April 1, 2022 through March 31, 2023 2,065 April 1, 2023 through March 31, 2024 1,957 April 1, 2024 through March 31, 2025 1,759 April 1, 2025 through March 31, 2026 1,635 April 1, 2026 and Thereafter 5,232 Total Future Minimum Lease Payments 14,324 Less Imputed Interest (1,451 ) Present Value of Lease Liabilities $ 12,873 |
Note 10 - Fair Value of Finan_2
Note 10 - Fair Value of Financial Instruments - (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | Fair Value Level 1 Level 2 Level 3 (Dollars in thousands) March 31, 2021 Available for Sale: U.S. Treasury Securities $ 7,387 $ - $ 7,387 $ - U.S. Government Agency Securities 2,559 - 2,559 - Corporate Securities 41,318 - 24,163 17,155 Mortgage-Backed Securities 358,300 - 355,001 3,299 Municipal Securities 310,000 - 289,449 20,551 Other Securities 1,660 - 1,660 - Mortgage Loans Held for Sale 2,298 - 2,298 - Servicing Rights 2,019 - 2,019 - Total $ 725,541 $ - $ 684,536 $ 41,005 December 31, 2020 Available for Sale: U.S. Government Agency Securities $ 2,572 $ - $ 2,572 $ - Corporate Securities 39,113 - 21,959 17,154 Mortgage-Backed Securities 295,019 - 295,019 - Municipal Securities 302,253 - 274,067 28,186 Other Securities 1,648 - 1,648 - Mortgage Loans Held for Sale 969 - 969 - Servicing Rights 1,439 - 1,439 - Total $ 643,013 $ - $ 597,673 $ 45,340 |
Fair Value Measurements, Nonrecurring [Table Text Block] | Fair Value Level 1 Level 2 Level 3 (Dollars in thousands) March 31, 2021 Assets: Impaired Loans $ 18,770 $ - $ - $ 18,770 Repossessed Assets 9,474 - - 9,474 Total $ 28,244 $ - $ - $ 28,244 December 31, 2020 Assets: Impaired Loans $ 11,755 $ - $ - $ 11,755 Repossessed Assets 9,453 - - 9,453 Total $ 21,208 $ - $ - $ 21,208 |
Fair Value, by Balance Sheet Grouping [Table Text Block] | Carrying Total Amount Fair Value Level 1 Level 2 Level 3 (Dollars in thousands) March 31, 2021 Financial Assets: Cash and Short-Term Investments $ 460,852 $ 460,852 $ 460,852 $ - $ - Securities 721,224 721,224 - 680,219 41,005 Mortgage Loans Held for Sale 2,298 2,298 - 2,298 - Loans - Net 3,016,727 3,018,067 - - 3,018,067 Servicing Rights 1,203 2,019 - 2,019 - Cash Value of BOLI 60,348 60,348 - 60,348 - Other Equity Securities 12,584 12,584 - - 12,584 Total $ 4,275,236 $ 4,277,392 $ 460,852 $ 744,884 $ 3,071,656 Financial Liabilities: Deposits $ 3,858,734 $ 3,857,245 $ - $ - $ 3,857,245 Borrowings 137,012 143,461 - 143,461 - Total $ 3,995,746 $ 4,000,706 $ - $ 143,461 $ 3,857,245 Carrying Total Amount Fair Value Level 1 Level 2 Level 3 (Dollars in thousands) December 31, 2020 Financial Assets: Cash and Short-Term Investments $ 323,283 $ 323,283 $ 323,283 $ - $ - Securities 640,605 640,605 - 595,265 45,340 Mortgage Loans Held for Sale 969 969 - 969 - Loans - Net 2,969,331 2,969,619 - - 2,969,619 Servicing Rights 1,439 1,439 1,439 - Cash Value of BOLI 45,030 45,030 - 45,030 - Other Equity Securities 12,693 12,693 - - 12,693 Total $ 3,993,350 $ 3,993,638 $ 323,283 $ 642,703 $ 3,027,652 Financial Liabilities: Deposits $ 3,616,679 $ 3,623,253 $ - $ - $ 3,623,253 Borrowings 105,990 127,171 - 127,171 - Total $ 3,722,669 $ 3,750,424 $ - $ 127,171 $ 3,623,253 |
Impaired Loans [Member] | |
Notes Tables | |
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block] | Valuation Unobservable Discounted Range (Weighted Average) Technique Input March 31, 2021 December 31, 2020 Impaired Loans Discounted Appraisals Appraisal Adjustments 10% to 100% (17%) 10% to 100% (19%) |
Note 1 - Basis of Presentatio_2
Note 1 - Basis of Presentation - (Details Textual) $ in Billions | Apr. 01, 2021USD ($) |
Smith Shellnut Wilson, LLC [Member] | Subsequent Event [Member] | |
Business Combination, Off-balance Sheet Assets under Management | $ 3.5 |
Note 3 - Mergers and Acquisit_3
Note 3 - Mergers and Acquisitions - (Details Textual) - USD ($) | May 01, 2020 | Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | Apr. 30, 2020 |
Assets, Total | $ 4,443,586,000 | $ 4,160,360,000 | |||
Deposits, Total | $ 3,858,734,000 | 3,616,679,000 | |||
Core Deposits [Member] | |||||
Finite-Lived Intangible Asset, Useful Life (Year) | 10 years | ||||
Pedestal [Member] | |||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares) | 7,614,506 | ||||
Assets, Total | $ 1,400,000,000 | ||||
Loans Payable, Total | 935,800,000 | ||||
Deposits, Total | $ 1,200,000,000 | ||||
Business Combination, Acquisition Related Costs | $ 10,000 | $ 9,600,000 | |||
Business Acquisition, Pro Forma Interest Income (Expense), Net, Fair Value Adjustment | $ 2,400,000 | ||||
Business Acquisition, Pro Forma Provision for Loan and Lease Losses, Total, Adjustment | 650,000 | ||||
Business Acquisition, Pro Forma Noninterest Expense, Total | $ 26,963,000 | $ 24,903,000 | |||
Business Acquisition, Pro Forma Income Tax Expense (Benefit), Adjustment, Percent | 21.00% | ||||
Pedestal [Member] | Acquisition-related Costs [Member] | |||||
Business Acquisition, Pro Forma Noninterest Expense, Total | $ 1,200,000 |
Note 3 - Mergers and Acquisit_4
Note 3 - Mergers and Acquisitions - Schedule of Identifiable Assets Purchased and Liabilities Assumed (Details) - USD ($) $ / shares in Units, $ in Thousands | May 01, 2020 | Mar. 31, 2021 | Dec. 31, 2020 |
Net Assets Acquired: | |||
Goodwill Resulting from Merger | $ 53,753 | $ 53,862 | |
Pedestal [Member] | |||
Purchase Price: | |||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares) | 7,614,506 | ||
Closing Stock Price on May 1, 2020 (in dollars per share) | $ 12.96 | ||
Total Purchase Price | $ 98,684 | ||
Net Assets Acquired: | |||
Cash and Cash Equivalents | 106,000 | ||
Securities Available for Sale | 264,517 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables | 893,295 | ||
Premises and Equipment, Net | 35,983 | ||
Cash Value of Life Insurance | 11,522 | ||
Core Deposit Intangible | 4,211 | ||
Other Assets | 19,623 | ||
Total Assets | 1,335,151 | ||
Deposits | 1,177,137 | ||
Borrowings | 59,399 | ||
Other Liabilities | 5,189 | ||
Total Liabilities | 1,241,725 | ||
Net Assets Acquired | 93,426 | ||
Goodwill Resulting from Merger | $ 5,258 |
Note 3 - Mergers and Acquisit_5
Note 3 - Mergers and Acquisitions - Proforma Information (Details) - Pedestal [Member] - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Interest Income | $ 44,262 | $ 41,935 |
Interest Expense | 3,961 | 7,521 |
Net Interest Income | 40,301 | 34,414 |
Provision for Loan Losses | 3,359 | 1,367 |
Net Interest Income after Provision for Loan Losses | 36,942 | 33,047 |
Noninterest Income | 5,083 | 6,378 |
Business Acquisition, Pro Forma Noninterest Expense, Total | 26,963 | 24,903 |
Income Before Income Taxes | 15,062 | 14,522 |
Income Tax Expense | 2,733 | 2,504 |
Net Income | $ 12,329 | $ 12,018 |
Basic (in dollars per share) | $ 0.60 | $ 0.57 |
Diluted (in dollars per share) | $ 0.59 | $ 0.57 |
Note 4 - Earnings Per Common _3
Note 4 - Earnings Per Common Share - Basic and Diluted Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Net Income Available to Common Shares | $ 12,329 | $ 4,499 |
Weighted Average Common Shares Outstanding (in shares) | 20,621,930 | 13,313,154 |
Dilutive Effect of Stock Options and RSAs (in shares) | 116,083 | 54,122 |
Weighted Average Dilutive Common Shares (in shares) | 20,738,013 | 13,367,276 |
Basic Earnings Per Common Share From Net Income Available to Common Shares (in dollars per share) | $ 0.60 | $ 0.34 |
Diluted Earnings Per Common Share From Net Income Available to Common Shares (in dollars per share) | $ 0.59 | $ 0.34 |
Note 5 - Securities - Securitie
Note 5 - Securities - Securities Available-for-sale (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Amortized cost | $ 715,132 | $ 627,380 | |
Gross unrealized gains | 10,544 | 13,583 | |
Gross unrealized losses | 4,452 | 358 | |
Fair value | 721,224 | $ 640,605 | 640,605 |
US Treasury Securities [Member] | |||
Amortized cost | 7,394 | ||
Gross unrealized gains | 0 | ||
Gross unrealized losses | 7 | ||
Fair value | 7,387 | ||
US Government Agencies Debt Securities [Member] | |||
Amortized cost | 2,554 | 2,567 | |
Gross unrealized gains | 5 | 5 | |
Gross unrealized losses | 0 | 0 | |
Fair value | 2,559 | 2,572 | |
Corporate Debt Securities [Member] | |||
Amortized cost | 40,763 | 38,738 | |
Gross unrealized gains | 652 | 380 | |
Gross unrealized losses | 97 | 5 | |
Fair value | 41,318 | 39,113 | |
Collateralized Mortgage Backed Securities [Member] | |||
Amortized cost | 355,095 | 288,373 | |
Gross unrealized gains | 5,504 | 6,893 | |
Gross unrealized losses | 2,299 | 247 | |
Fair value | 358,300 | 295,019 | |
US States and Political Subdivisions Debt Securities [Member] | |||
Amortized cost | 308,016 | 296,262 | |
Gross unrealized gains | 4,033 | 6,097 | |
Gross unrealized losses | 2,049 | 106 | |
Fair value | 310,000 | 302,253 | |
Other Debt Obligations [Member] | |||
Amortized cost | 1,310 | 1,440 | |
Gross unrealized gains | 350 | 208 | |
Gross unrealized losses | 0 | 0 | |
Fair value | $ 1,660 | $ 1,648 |
Note 5 - Securities - Securit_2
Note 5 - Securities - Securities in a Continuous Unrealized Loss Position (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Less than 12 months, fair value | $ 305,339 | $ 68,096 |
Less than 12 months, gross unrealized losses | 4,447 | 357 |
12 months or greater, fair value | 484 | 17 |
12 months or greater, gross unrealized losses | 5 | 1 |
Total, fair value | 305,823 | 68,113 |
Total, gross unrealized losses | 4,452 | 358 |
US Treasury Securities [Member] | ||
Less than 12 months, fair value | 7,387 | |
Less than 12 months, gross unrealized losses | 7 | |
12 months or greater, fair value | 0 | |
12 months or greater, gross unrealized losses | 0 | |
Total, fair value | 7,387 | |
Total, gross unrealized losses | 7 | |
US Government Agencies Debt Securities [Member] | ||
Less than 12 months, fair value | 0 | 0 |
Less than 12 months, gross unrealized losses | 0 | 0 |
12 months or greater, fair value | 0 | 0 |
12 months or greater, gross unrealized losses | 0 | 0 |
Total, fair value | 0 | 0 |
Total, gross unrealized losses | 0 | 0 |
Corporate Debt Securities [Member] | ||
Less than 12 months, fair value | 6,311 | 4,995 |
Less than 12 months, gross unrealized losses | 97 | 5 |
12 months or greater, fair value | 0 | 0 |
12 months or greater, gross unrealized losses | 0 | 0 |
Total, fair value | 6,311 | 4,995 |
Total, gross unrealized losses | 97 | 5 |
Collateralized Mortgage Backed Securities [Member] | ||
Less than 12 months, fair value | 168,507 | 44,680 |
Less than 12 months, gross unrealized losses | 2,298 | 246 |
12 months or greater, fair value | 70 | 17 |
12 months or greater, gross unrealized losses | 1 | 1 |
Total, fair value | 168,577 | 44,697 |
Total, gross unrealized losses | 2,299 | 247 |
US States and Political Subdivisions Debt Securities [Member] | ||
Less than 12 months, fair value | 123,134 | 18,421 |
Less than 12 months, gross unrealized losses | 2,045 | 106 |
12 months or greater, fair value | 414 | 0 |
12 months or greater, gross unrealized losses | 4 | 0 |
Total, fair value | 123,548 | 18,421 |
Total, gross unrealized losses | 2,049 | 106 |
Other Debt Obligations [Member] | ||
Less than 12 months, fair value | 0 | 0 |
Less than 12 months, gross unrealized losses | 0 | 0 |
12 months or greater, fair value | 0 | 0 |
12 months or greater, gross unrealized losses | 0 | 0 |
Total, fair value | 0 | 0 |
Total, gross unrealized losses | $ 0 | $ 0 |
Note 5 - Securities - Securit_3
Note 5 - Securities - Securities Available-for-sale by Contractual Maturity (Details) $ in Thousands | Mar. 31, 2021USD ($) |
Less Than One Year, Amortized Cost | $ 20,345 |
Less Than One Year, Fair Value | 20,497 |
One to Five Years, Amortized Cost | 132,401 |
One to Five Years, Fair Value | 134,124 |
Over Five to Ten Years, Amortized Cost | 310,544 |
Over Five to Ten Years, Fair Value | 314,022 |
Over Ten Years, Amortized Cost | 251,842 |
Over Ten Years, Fair Value | 252,581 |
Amortized Cost | 715,132 |
Fair Value | $ 721,224 |
Note 6 - Loans and the Allowa_3
Note 6 - Loans and the Allowance for Loan Losses - (Details Textual) | May 01, 2020USD ($) | Mar. 31, 2021USD ($) | Dec. 31, 2020USD ($) | |
Loans and Leases Receivable, Deferred Income, Total | $ 14,900,000 | $ 10,200,000 | ||
Loans and Leases Receivable Reclassified from Overdraft | 763,000 | 623,000 | ||
Loans Receivable, Unpaid Principal Balance | 399,600,000 | 430,000,000 | ||
Servicing Asset, Total | 1,200,000 | 1,400,000 | ||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | [1] | 61,232,000 | 64,260,000 | |
Loans and Leases Receivable, Net of Deferred Income, Total | 3,041,978,000 | 2,991,355,000 | ||
Financing Receivable, 90 Days or More Past Due, Still Accruing | 1,479,000 | 1,523,000 | ||
Financing Receivable, Nonaccrual | 12,000,000 | 9,100,000 | ||
Impaired Financing Receivable, Interest Income, Accrual Method, Total | 60,000 | 335,000 | ||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | $ 0 | $ 34,000 | ||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 1 | |||
Financing Receivable, Modifications, Number of Contracts | 19 | 19 | ||
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 6,241,000 | $ 8,521,000 | ||
Financing Receivable Accrued Interest Receivable, Loans Deferrals | $ 8,000,000 | $ 8,400,000 | ||
COVID 19 [Member] | ||||
Financing Receivable, Number of Payment Deferrals | 2,100 | |||
Financing Receivable, Deferred Payments | $ 769,600,000 | |||
Number of Principal and Interest Payment, Deferrals Within the Deferral Period | 105 | 121 | ||
Outstanding Balance of Loans Within the Deferral Period | $ 90,500,000 | $ 98,100,000 | ||
Financing Receivable, Interest Only Deferred Payments | 84,600,000 | 94,800,000 | ||
Financing Receivable, Principal and Interest, Deferred Payments | $ 829,100,000 | |||
Modified Loans [Member] | ||||
Financing Receivable, Modifications, Number of Contracts | 7 | |||
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 4,000,000 | |||
Minden Bancorp and Richland State Bancorp [Member] | Performing Financial Instruments [Member] | ||||
Loans and Leases Receivable, Deferred Income, Total | 7,000,000 | 9,800,000 | ||
Loans Receivable, Fair Value Disclosure | 582,500,000 | 750,600,000 | ||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 61,200,000 | 64,300,000 | ||
Loans and Leases Receivable, Net of Deferred Income, Total | 528,200,000 | 696,200,000 | ||
Pedestal [Member] | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables | $ 893,295,000 | |||
Pedestal [Member] | Financial Asset Acquired and No Credit Deterioration [Member] | Loans and Leases Receivables Acquired [Member] | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables | 818,700,000 | |||
Pedestal [Member] | Financial Asset Acquired with Credit Deterioration [Member] | Loans and Leases Receivables Acquired [Member] | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables | 74,600,000 | |||
Pedestal [Member] | Performing Financial Instruments [Member] | Loans and Leases Receivables Acquired [Member] | ||||
Financing Receivable, Purchased with Credit Deterioration, Discount (Premium) | $ 11,500,000 | |||
Commercial Real Estate Portfolio Segment [Member] | SBA CARES Act Paycheck Protection Program [Member] | ||||
Loans and Leases Receivable, Gross, Total | 385,800,000 | 313,900,000 | ||
Consumer Portfolio Segment [Member] | ||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | [1] | 1,584,000 | 1,879,000 | |
Loans and Leases Receivable, Net of Deferred Income, Total | 104,071,000 | 110,122,000 | ||
Financing Receivable, 90 Days or More Past Due, Still Accruing | $ 4,000 | $ 22,000 | ||
Financing Receivable, Modifications, Number of Contracts | 3 | 3 | ||
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 6,000 | $ 8,000 | ||
Consumer Portfolio Segment [Member] | SBA CARES Act Paycheck Protection Program [Member] | ||||
Loans and Leases Receivable, Gross, Total | 105,000 | 1,600,000 | ||
Loans and Leases Receivable, Deferred Income, Total | $ 10,700,000 | $ 6,200,000 | ||
[1] | Purchased credit impaired loans are evaluated for impairment on an individual basis. |
Note 6 - Loans and the Allowa_4
Note 6 - Loans and the Allowance for Loan Losses - Loans Receivable (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Loans | $ 3,041,978 | $ 2,991,355 | |
Allowance for loan losses | (25,251) | (22,024) | $ (12,124) |
Net loans | 3,016,727 | 2,969,331 | |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | |||
Loans | 418,234 | 403,065 | |
Allowance for loan losses | (3,927) | (3,584) | (1,868) |
Commercial Real Estate Portfolio Segment [Member] | Farmland [Member] | |||
Loans | 52,861 | 55,883 | |
Allowance for loan losses | (483) | (600) | (229) |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | |||
Loans | 966,416 | 971,603 | |
Allowance for loan losses | (7,842) | (7,369) | (3,882) |
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | |||
Loans | 460,907 | 468,650 | |
Allowance for loan losses | (3,807) | (3,453) | (1,888) |
Residential Portfolio Segment [Member] | Multi-family Residential [Member] | |||
Loans | 77,390 | 95,707 | |
Allowance for loan losses | (656) | (818) | (226) |
Commercial Portfolio Segment [Member] | |||
Loans | 962,099 | 886,325 | |
Allowance for loan losses | (7,479) | (5,018) | (3,414) |
Consumer Portfolio Segment [Member] | |||
Loans | 104,071 | 110,122 | |
Allowance for loan losses | $ (1,057) | $ (1,182) | $ (617) |
Note 6 - Loans and the Allowa_5
Note 6 - Loans and the Allowance for Loan Losses - Allowance for Credit Losses and Recorded Investment in Loans Receivable (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||
Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | May 01, 2020 | ||||
Beginning Balance | $ 22,024 | $ 12,124 | $ 12,124 | ||||
Charge-offs | (309) | (1,963) | |||||
Recoveries | 177 | 428 | |||||
Provision | 3,359 | 1,367 | 11,435 | ||||
Ending Balance | 25,251 | 22,024 | |||||
Allowance for credit losses, individually evaluated for impairment | 931 | 1,014 | |||||
Allowance for credit losses, collectively evaluated for impairment | 24,320 | 21,010 | |||||
Allowance for credit losses, purchased credit impaired | 0 | [1] | 0 | [1] | $ 49,828 | ||
Loans receivable | 3,041,978 | 2,991,355 | |||||
Loans receivable, individually evaluated for impairment | 14,989 | 13,557 | |||||
Loans receivable, collectively evaluated for impairment | 2,965,757 | 2,913,538 | |||||
Loans receivable, purchased credit impaired | [1] | 61,232 | 64,260 | ||||
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | |||||||
Beginning Balance | 3,584 | 1,868 | 1,868 | ||||
Charge-offs | 0 | (26) | |||||
Recoveries | 0 | 10 | |||||
Provision | 343 | 1,732 | |||||
Ending Balance | 3,927 | 3,584 | |||||
Allowance for credit losses, individually evaluated for impairment | 26 | 27 | |||||
Allowance for credit losses, collectively evaluated for impairment | 3,901 | 3,557 | |||||
Allowance for credit losses, purchased credit impaired | [1] | 0 | 0 | ||||
Loans receivable | 418,234 | 403,065 | |||||
Loans receivable, individually evaluated for impairment | 958 | 924 | |||||
Loans receivable, collectively evaluated for impairment | 416,249 | 401,134 | |||||
Loans receivable, purchased credit impaired | [1] | 1,027 | 1,007 | ||||
Commercial Real Estate Portfolio Segment [Member] | Farmland [Member] | |||||||
Beginning Balance | 600 | 229 | 229 | ||||
Charge-offs | 0 | (2) | |||||
Recoveries | 2 | 0 | |||||
Provision | (119) | 373 | |||||
Ending Balance | 483 | 600 | |||||
Allowance for credit losses, individually evaluated for impairment | 3 | 93 | |||||
Allowance for credit losses, collectively evaluated for impairment | 480 | 507 | |||||
Allowance for credit losses, purchased credit impaired | [1] | 0 | 0 | ||||
Loans receivable | 52,861 | 55,883 | |||||
Loans receivable, individually evaluated for impairment | 236 | 299 | |||||
Loans receivable, collectively evaluated for impairment | 52,558 | 55,516 | |||||
Loans receivable, purchased credit impaired | [1] | 67 | 68 | ||||
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | |||||||
Beginning Balance | 7,369 | 3,882 | 3,882 | ||||
Charge-offs | (20) | (232) | |||||
Recoveries | 98 | 12 | |||||
Provision | 395 | 3,707 | |||||
Ending Balance | 7,842 | 7,369 | |||||
Allowance for credit losses, individually evaluated for impairment | 129 | 119 | |||||
Allowance for credit losses, collectively evaluated for impairment | 7,713 | 7,250 | |||||
Allowance for credit losses, purchased credit impaired | [1] | 0 | 0 | ||||
Loans receivable | 966,416 | 971,603 | |||||
Loans receivable, individually evaluated for impairment | 3,905 | 3,525 | |||||
Loans receivable, collectively evaluated for impairment | 934,545 | 939,422 | |||||
Loans receivable, purchased credit impaired | [1] | 27,966 | 28,656 | ||||
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | |||||||
Beginning Balance | 3,453 | 1,888 | 1,888 | ||||
Charge-offs | (134) | (387) | |||||
Recoveries | 23 | 53 | |||||
Provision | 465 | 1,899 | |||||
Ending Balance | 3,807 | 3,453 | |||||
Allowance for credit losses, individually evaluated for impairment | 117 | 62 | |||||
Allowance for credit losses, collectively evaluated for impairment | 3,690 | 3,391 | |||||
Allowance for credit losses, purchased credit impaired | [1] | 0 | 0 | ||||
Loans receivable | 460,907 | 468,650 | |||||
Loans receivable, individually evaluated for impairment | 3,186 | 2,957 | |||||
Loans receivable, collectively evaluated for impairment | 431,898 | 438,240 | |||||
Loans receivable, purchased credit impaired | [1] | 25,823 | 27,453 | ||||
Residential Portfolio Segment [Member] | Multi-family Residential [Member] | |||||||
Beginning Balance | 818 | 226 | 226 | ||||
Charge-offs | 0 | ||||||
Recoveries | 0 | 0 | |||||
Provision | (162) | 592 | |||||
Ending Balance | 656 | 818 | |||||
Allowance for credit losses, individually evaluated for impairment | 0 | 0 | |||||
Allowance for credit losses, collectively evaluated for impairment | 656 | 818 | |||||
Allowance for credit losses, purchased credit impaired | [1] | 0 | 0 | ||||
Loans receivable | 77,390 | 95,707 | |||||
Loans receivable, individually evaluated for impairment | 0 | 0 | |||||
Loans receivable, collectively evaluated for impairment | 77,390 | 95,707 | |||||
Loans receivable, purchased credit impaired | [1] | 0 | 0 | ||||
Commercial Portfolio Segment [Member] | |||||||
Beginning Balance | 5,018 | 3,414 | 3,414 | ||||
Charge-offs | (87) | (849) | |||||
Recoveries | 24 | 203 | |||||
Provision | 2,524 | 2,250 | |||||
Ending Balance | 7,479 | 5,018 | |||||
Allowance for credit losses, individually evaluated for impairment | 553 | 609 | |||||
Allowance for credit losses, collectively evaluated for impairment | 6,926 | 4,409 | |||||
Allowance for credit losses, purchased credit impaired | [1] | 0 | 0 | ||||
Loans receivable | 962,099 | 886,325 | |||||
Loans receivable, individually evaluated for impairment | 6,392 | 5,517 | |||||
Loans receivable, collectively evaluated for impairment | 950,942 | 875,611 | |||||
Loans receivable, purchased credit impaired | [1] | 4,765 | 5,197 | ||||
Consumer Portfolio Segment [Member] | |||||||
Beginning Balance | 1,182 | $ 617 | 617 | ||||
Charge-offs | (68) | (467) | |||||
Recoveries | 30 | 150 | |||||
Provision | (87) | 882 | |||||
Ending Balance | 1,057 | 1,182 | |||||
Allowance for credit losses, individually evaluated for impairment | 103 | 104 | |||||
Allowance for credit losses, collectively evaluated for impairment | 954 | 1,078 | |||||
Allowance for credit losses, purchased credit impaired | [1] | 0 | 0 | ||||
Loans receivable | 104,071 | 110,122 | |||||
Loans receivable, individually evaluated for impairment | 312 | 335 | |||||
Loans receivable, collectively evaluated for impairment | 102,175 | 107,908 | |||||
Loans receivable, purchased credit impaired | [1] | $ 1,584 | $ 1,879 | ||||
[1] | Purchased credit impaired loans are evaluated for impairment on an individual basis. |
Note 6 - Loans and the Allowa_6
Note 6 - Loans and the Allowance for Loan Losses - Credit Quality Indicators (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Loans | $ 3,041,978 | $ 2,991,355 |
Pass [Member] | ||
Loans | 2,964,583 | 2,916,507 |
Special Mention [Member] | ||
Loans | 43,322 | 43,776 |
Substandard [Member] | ||
Loans | 16,618 | 17,170 |
Doubtful [Member] | ||
Loans | 17,455 | 13,902 |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | ||
Loans | 418,234 | 403,065 |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | Pass [Member] | ||
Loans | 414,941 | 400,027 |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | Special Mention [Member] | ||
Loans | 809 | 912 |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | Substandard [Member] | ||
Loans | 1,526 | 1,202 |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | Doubtful [Member] | ||
Loans | 958 | 924 |
Commercial Real Estate Portfolio Segment [Member] | Farmland [Member] | ||
Loans | 52,861 | 55,883 |
Commercial Real Estate Portfolio Segment [Member] | Farmland [Member] | Pass [Member] | ||
Loans | 50,933 | 53,874 |
Commercial Real Estate Portfolio Segment [Member] | Farmland [Member] | Special Mention [Member] | ||
Loans | 1,625 | 1,642 |
Commercial Real Estate Portfolio Segment [Member] | Farmland [Member] | Substandard [Member] | ||
Loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Farmland [Member] | Doubtful [Member] | ||
Loans | 303 | 367 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | ||
Loans | 966,416 | 971,603 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | Pass [Member] | ||
Loans | 944,976 | 949,245 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | Special Mention [Member] | ||
Loans | 11,940 | 12,810 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | Substandard [Member] | ||
Loans | 3,287 | 3,473 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | Doubtful [Member] | ||
Loans | 6,213 | 6,075 |
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | ||
Loans | 460,907 | 468,650 |
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | Pass [Member] | ||
Loans | 440,800 | 450,702 |
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | Special Mention [Member] | ||
Loans | 10,074 | 9,290 |
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | Substandard [Member] | ||
Loans | 5,343 | 4,913 |
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | Doubtful [Member] | ||
Loans | 4,690 | 3,745 |
Residential Portfolio Segment [Member] | Multi-family Residential [Member] | ||
Loans | 77,390 | 95,707 |
Residential Portfolio Segment [Member] | Multi-family Residential [Member] | Pass [Member] | ||
Loans | 77,055 | 95,359 |
Residential Portfolio Segment [Member] | Multi-family Residential [Member] | Special Mention [Member] | ||
Loans | 308 | 320 |
Residential Portfolio Segment [Member] | Multi-family Residential [Member] | Substandard [Member] | ||
Loans | 27 | 28 |
Residential Portfolio Segment [Member] | Multi-family Residential [Member] | Doubtful [Member] | ||
Loans | 0 | 0 |
Commercial Portfolio Segment [Member] | ||
Loans | 962,099 | 886,325 |
Commercial Portfolio Segment [Member] | Pass [Member] | ||
Loans | 933,997 | 859,851 |
Commercial Portfolio Segment [Member] | Special Mention [Member] | ||
Loans | 17,311 | 16,832 |
Commercial Portfolio Segment [Member] | Substandard [Member] | ||
Loans | 5,975 | 7,325 |
Commercial Portfolio Segment [Member] | Doubtful [Member] | ||
Loans | 4,816 | 2,317 |
Consumer Portfolio Segment [Member] | ||
Loans | 104,071 | 110,122 |
Consumer Portfolio Segment [Member] | Pass [Member] | ||
Loans | 101,881 | 107,449 |
Consumer Portfolio Segment [Member] | Special Mention [Member] | ||
Loans | 1,255 | 1,970 |
Consumer Portfolio Segment [Member] | Substandard [Member] | ||
Loans | 460 | 229 |
Consumer Portfolio Segment [Member] | Doubtful [Member] | ||
Loans | $ 475 | $ 474 |
Note 6 - Loans and the Allowa_7
Note 6 - Loans and the Allowance for Loan Losses - Past Due Loans Receivable (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Past due | $ 17,109 | $ 20,481 |
Current | 3,024,869 | 2,970,874 |
Loans | 3,041,978 | 2,991,355 |
Recorded investment over 90 days past due and still accruing | 1,479 | 1,523 |
Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due | 5,214 | 9,694 |
Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due | 1,716 | 2,877 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due | 10,179 | 7,910 |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | ||
Past due | 2,064 | 1,921 |
Current | 416,170 | 401,144 |
Loans | 418,234 | 403,065 |
Recorded investment over 90 days past due and still accruing | 73 | 72 |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due | 530 | 874 |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due | 526 | 75 |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due | 1,008 | 972 |
Commercial Real Estate Portfolio Segment [Member] | Farmland [Member] | ||
Past due | 142 | 300 |
Current | 52,719 | 55,583 |
Loans | 52,861 | 55,883 |
Recorded investment over 90 days past due and still accruing | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Farmland [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Farmland [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due | 0 | 11 |
Commercial Real Estate Portfolio Segment [Member] | Farmland [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due | 142 | 289 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | ||
Past due | 3,426 | 6,214 |
Current | 962,990 | 965,389 |
Loans | 966,416 | 971,603 |
Recorded investment over 90 days past due and still accruing | 418 | 315 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due | 846 | 2,651 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due | 36 | 1,049 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due | 2,544 | 2,514 |
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | ||
Past due | 5,818 | 6,249 |
Current | 455,089 | 462,401 |
Loans | 460,907 | 468,650 |
Recorded investment over 90 days past due and still accruing | 756 | 603 |
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due | 2,929 | 3,162 |
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due | 621 | 1,160 |
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due | 2,268 | 1,927 |
Residential Portfolio Segment [Member] | Multi-family Residential [Member] | ||
Past due | 0 | 0 |
Current | 77,390 | 95,707 |
Loans | 77,390 | 95,707 |
Recorded investment over 90 days past due and still accruing | 0 | 0 |
Residential Portfolio Segment [Member] | Multi-family Residential [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due | 0 | 0 |
Residential Portfolio Segment [Member] | Multi-family Residential [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due | 0 | 0 |
Residential Portfolio Segment [Member] | Multi-family Residential [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due | 0 | 0 |
Commercial Portfolio Segment [Member] | ||
Past due | 5,219 | 5,092 |
Current | 956,880 | 881,233 |
Loans | 962,099 | 886,325 |
Recorded investment over 90 days past due and still accruing | 228 | 511 |
Commercial Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due | 769 | 2,618 |
Commercial Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due | 473 | 549 |
Commercial Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due | 3,977 | 1,925 |
Consumer Portfolio Segment [Member] | ||
Past due | 440 | 705 |
Current | 103,631 | 109,417 |
Loans | 104,071 | 110,122 |
Recorded investment over 90 days past due and still accruing | 4 | 22 |
Consumer Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due | 140 | 389 |
Consumer Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due | 60 | 33 |
Consumer Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due | $ 240 | $ 283 |
Note 6 - Loans and the Allowa_8
Note 6 - Loans and the Allowance for Loan Losses - Impaired Loans (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2021 | Dec. 31, 2020 | |
Recorded investment, with an allowance recorded | $ 2,476 | $ 3,593 |
Unpaid principal balance, with an allowance recorded | 2,641 | 3,738 |
Related allowance | 931 | 1,014 |
Average recorded investment, with an allowance recorded | 3,331 | 2,855 |
Recorded investment, with no allowance recorded | 12,513 | 9,964 |
Unpaid principal balance, with no allowance recorded | 13,856 | 11,314 |
Average recorded investment, with no allowance recorded | 12,061 | 11,037 |
Recorded investment | 14,989 | 13,557 |
Unpaid principal balance | 16,497 | 15,052 |
Average recorded investment | 15,392 | 13,892 |
Commercial Real Estate Portfolio Segment [Member] | ||
Related allowance | 553 | 609 |
Recorded investment | 6,392 | 5,517 |
Unpaid principal balance | 6,540 | 5,653 |
Average recorded investment | 6,497 | 5,224 |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land [Member] | ||
Recorded investment, with an allowance recorded | 26 | 27 |
Unpaid principal balance, with an allowance recorded | 27 | 27 |
Related allowance | 26 | 27 |
Average recorded investment, with an allowance recorded | 18 | 2 |
Recorded investment, with no allowance recorded | 932 | 897 |
Unpaid principal balance, with no allowance recorded | 975 | 939 |
Average recorded investment, with no allowance recorded | 926 | 520 |
Recorded investment | 958 | 924 |
Unpaid principal balance | 1,002 | 966 |
Average recorded investment | 944 | 522 |
Commercial Real Estate Portfolio Segment [Member] | Farmland [Member] | ||
Recorded investment, with an allowance recorded | 19 | 109 |
Unpaid principal balance, with an allowance recorded | 21 | 112 |
Related allowance | 3 | 93 |
Average recorded investment, with an allowance recorded | 49 | 27 |
Recorded investment, with no allowance recorded | 217 | 190 |
Unpaid principal balance, with no allowance recorded | 220 | 197 |
Average recorded investment, with no allowance recorded | 226 | 208 |
Recorded investment | 236 | 299 |
Unpaid principal balance | 241 | 309 |
Average recorded investment | 275 | 235 |
Commercial Real Estate Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | ||
Recorded investment, with an allowance recorded | 518 | 337 |
Unpaid principal balance, with an allowance recorded | 545 | 361 |
Related allowance | 117 | 62 |
Average recorded investment, with an allowance recorded | 365 | 361 |
Recorded investment, with no allowance recorded | 2,668 | 2,620 |
Unpaid principal balance, with no allowance recorded | 3,405 | 3,388 |
Average recorded investment, with no allowance recorded | 2,813 | 3,091 |
Recorded investment | 3,186 | 2,957 |
Unpaid principal balance | 3,950 | 3,749 |
Average recorded investment | 3,178 | 3,452 |
Commercial Real Estate Portfolio Segment [Member] | Multi-family Residential [Member] | ||
Recorded investment, with an allowance recorded | 0 | 0 |
Unpaid principal balance, with an allowance recorded | 0 | 0 |
Related allowance | 0 | 0 |
Average recorded investment, with an allowance recorded | 0 | 0 |
Recorded investment, with no allowance recorded | 0 | 0 |
Unpaid principal balance, with no allowance recorded | 0 | 0 |
Average recorded investment, with no allowance recorded | 0 | 0 |
Recorded investment | 0 | 0 |
Unpaid principal balance | 0 | 0 |
Average recorded investment | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | ||
Recorded investment, with an allowance recorded | 445 | 457 |
Unpaid principal balance, with an allowance recorded | 446 | 457 |
Related allowance | 129 | 119 |
Average recorded investment, with an allowance recorded | 777 | 652 |
Recorded investment, with no allowance recorded | 3,460 | 3,068 |
Unpaid principal balance, with no allowance recorded | 3,948 | 3,534 |
Average recorded investment, with no allowance recorded | 3,405 | 3,325 |
Recorded investment | 3,905 | 3,525 |
Unpaid principal balance | 4,394 | 3,991 |
Average recorded investment | 4,182 | 3,977 |
Commercial Portfolio Segment [Member] | ||
Recorded investment, with an allowance recorded | 1,337 | 2,530 |
Unpaid principal balance, with an allowance recorded | 1,449 | 2,636 |
Related allowance | 553 | 609 |
Average recorded investment, with an allowance recorded | 1,998 | 1,655 |
Recorded investment, with no allowance recorded | 5,055 | 2,987 |
Unpaid principal balance, with no allowance recorded | 5,091 | 3,017 |
Average recorded investment, with no allowance recorded | 4,499 | 3,569 |
Consumer Portfolio Segment [Member] | ||
Recorded investment, with an allowance recorded | 131 | 133 |
Unpaid principal balance, with an allowance recorded | 153 | 145 |
Related allowance | 103 | 104 |
Average recorded investment, with an allowance recorded | 124 | 158 |
Recorded investment, with no allowance recorded | 181 | 202 |
Unpaid principal balance, with no allowance recorded | 217 | 239 |
Average recorded investment, with no allowance recorded | 192 | 324 |
Recorded investment | 312 | 335 |
Unpaid principal balance | 370 | 384 |
Average recorded investment | $ 316 | $ 482 |
Note 6 - Loans and the Allowa_9
Note 6 - Loans and the Allowance for Loan Losses - Loans Acquired (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 | May 01, 2020 | ||
Contractually required payments | $ 133,621 | ||||
Non-accretable difference (expected losses) | $ 0 | [1] | $ 0 | [1] | (49,828) |
Cash flows expected to be collected at acquisition | 83,793 | ||||
Accretable yield | $ 16,435 | $ 15,853 | (9,202) | ||
Basis in acquired loans at acquisition | $ 74,591 | ||||
[1] | Purchased credit impaired loans are evaluated for impairment on an individual basis. |
Note 6 - Loans and the Allow_10
Note 6 - Loans and the Allowance for Loan Losses - Changes in Accretable Difference for Loans (Details) $ in Thousands | 3 Months Ended |
Mar. 31, 2021USD ($) | |
Accretable Yield, Balance | $ 15,853 |
Transfers from non-accretable difference to accretable yield | 2,333 |
Accretion | (330) |
Changes in expected cash flows not affecting non-accretable differences | (1,421) |
Accretable Yield, Balance | $ 16,435 |
Note 6 - Loans and the Allow_11
Note 6 - Loans and the Allowance for Loan Losses - Troubled Debt Restructurings (Details) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2021USD ($) | Dec. 31, 2020USD ($) | |
Number of contracts | 19 | 19 |
Pre-modification outstanding recorded investment | $ 10,063 | $ 10,063 |
Post-modification outstanding recorded investment | $ 6,241 | $ 8,521 |
Residential Portfolio Segment [Member] | Real Estate Residential One- to Four-Family [Member] | ||
Number of contracts | 4 | 4 |
Pre-modification outstanding recorded investment | $ 268 | $ 268 |
Post-modification outstanding recorded investment | $ 214 | $ 215 |
Residential Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | ||
Number of contracts | 5 | 5 |
Pre-modification outstanding recorded investment | $ 4,627 | $ 4,627 |
Post-modification outstanding recorded investment | $ 3,377 | $ 4,204 |
Commercial Portfolio Segment [Member] | ||
Number of contracts | 7 | 7 |
Pre-modification outstanding recorded investment | $ 5,150 | $ 5,150 |
Post-modification outstanding recorded investment | $ 2,644 | $ 4,094 |
Consumer Portfolio Segment [Member] | ||
Number of contracts | 3 | 3 |
Pre-modification outstanding recorded investment | $ 18 | $ 18 |
Post-modification outstanding recorded investment | $ 6 | $ 8 |
Note 7 - Long Term Debt - (Deta
Note 7 - Long Term Debt - (Details Textual) - Subordinated Debt [Member] $ in Millions | Mar. 26, 2021USD ($) |
Debt Instrument, Face Amount | $ 52.5 |
Debt Instrument, Interest Rate, Stated Percentage | 4.25% |
Base Rate [Member] | |
Debt Instrument, Basis Spread on Variable Rate | 3.54% |
Note 8 - Leases - (Details Text
Note 8 - Leases - (Details Textual) - USD ($) | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Operating Lease, Expense | $ 747,000 | $ 693,000 |
Operating Lease, Weighted Average Remaining Lease Term (Year) | 7 years 7 months 6 days | |
Operating Lease, Weighted Average Discount Rate, Percent | 2.86% | |
Minimum [Member] | ||
Lessee, Operating Lease, Term of Contract (Year) | 1 year | |
Maximum [Member] | ||
Lessee, Operating Lease, Term of Contract (Year) | 10 years |
Note 8 - Leases - Future Minimu
Note 8 - Leases - Future Minimum Lease Payments (Details) $ in Thousands | Mar. 31, 2021USD ($) |
April 1, 2021 through March 31, 2022 | $ 1,676 |
April 1, 2022 through March 31, 2023 | 2,065 |
April 1, 2023 through March 31, 2024 | 1,957 |
April 1, 2024 through March 31, 2025 | 1,759 |
April 1, 2025 through March 31, 2026 | 1,635 |
April 1, 2026 and Thereafter | 5,232 |
Total Future Minimum Lease Payments | 14,324 |
Less Imputed Interest | (1,451) |
Other Liabilities [Member] | |
Present Value of Lease Liabilities | $ 12,873 |
Note 9 - Commitments and Cont_2
Note 9 - Commitments and Contingencies - (Details Textual) $ in Millions | Mar. 31, 2021USD ($) |
Standby Letters of Credit [Member] | |
Contractual Obligation, Total | $ 22.4 |
Commitments to Extend Credit [Member] | |
Contractual Obligation, Total | $ 715.1 |
Note 10 - Fair Value of Finan_3
Note 10 - Fair Value of Financial Instruments - (Details Textual) $ in Thousands | Mar. 31, 2021USD ($) | Dec. 31, 2020USD ($) |
Fair Value, Recurring [Member] | ||
Financial and Nonfinancial Liabilities, Fair Value Disclosure | $ 0 | $ 0 |
Fair Value, Nonrecurring [Member] | ||
Financial and Nonfinancial Liabilities, Fair Value Disclosure | $ 0 | |
Fair Value, Nonrecurring [Member] | Measurement Input, Cost to Sell [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Other Real Estate Owned, Measurement Input | 0.10 |
Note 10 - Fair Value of Finan_4
Note 10 - Fair Value of Financial Instruments - Assets and Liabilities Measured On a Recurring Basis (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Securities Available for Sale, at Fair Values | $ 721,224 | $ 640,605 | $ 640,605 |
Securities available for sale | 721,224 | 640,605 | 640,605 |
US Treasury Securities [Member] | |||
Securities Available for Sale, at Fair Values | 7,387 | ||
Securities available for sale | 7,387 | ||
US Government Agencies Debt Securities [Member] | |||
Securities Available for Sale, at Fair Values | 2,559 | 2,572 | |
Securities available for sale | 2,559 | 2,572 | |
Corporate Debt Securities [Member] | |||
Securities Available for Sale, at Fair Values | 41,318 | 39,113 | |
Securities available for sale | 41,318 | 39,113 | |
Collateralized Mortgage Backed Securities [Member] | |||
Securities Available for Sale, at Fair Values | 358,300 | 295,019 | |
Securities available for sale | 358,300 | 295,019 | |
US States and Political Subdivisions Debt Securities [Member] | |||
Securities Available for Sale, at Fair Values | 310,000 | 302,253 | |
Securities available for sale | 310,000 | 302,253 | |
Other Debt Obligations [Member] | |||
Securities Available for Sale, at Fair Values | 1,660 | 1,648 | |
Securities available for sale | 1,660 | $ 1,648 | |
Fair Value, Recurring [Member] | |||
Mortgage Loans Held for Sale | 2,298 | 969 | |
Servicing Rights | 2,019 | 1,439 | |
Total | 725,541 | 643,013 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Mortgage Loans Held for Sale | 0 | 0 | |
Servicing Rights | 0 | 0 | |
Total | 0 | 0 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Mortgage Loans Held for Sale | 2,298 | 969 | |
Servicing Rights | 2,019 | 1,439 | |
Total | 684,536 | 597,673 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Mortgage Loans Held for Sale | 0 | 0 | |
Servicing Rights | 0 | 0 | |
Total | 41,005 | 45,340 | |
Fair Value, Recurring [Member] | US Treasury Securities [Member] | |||
Securities Available for Sale, at Fair Values | 7,387 | ||
Securities available for sale | 7,387 | ||
Fair Value, Recurring [Member] | US Treasury Securities [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Securities Available for Sale, at Fair Values | 0 | ||
Securities available for sale | 0 | ||
Fair Value, Recurring [Member] | US Treasury Securities [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Securities Available for Sale, at Fair Values | 7,387 | ||
Securities available for sale | 7,387 | ||
Fair Value, Recurring [Member] | US Treasury Securities [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Securities Available for Sale, at Fair Values | 0 | ||
Securities available for sale | 0 | ||
Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | |||
Securities Available for Sale, at Fair Values | 2,559 | 2,572 | |
Securities available for sale | 2,559 | 2,572 | |
Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Securities Available for Sale, at Fair Values | 0 | 0 | |
Securities available for sale | 0 | 0 | |
Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Securities Available for Sale, at Fair Values | 2,559 | 2,572 | |
Securities available for sale | 2,559 | 2,572 | |
Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Securities Available for Sale, at Fair Values | 0 | 0 | |
Securities available for sale | 0 | 0 | |
Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | |||
Securities Available for Sale, at Fair Values | 41,318 | 39,113 | |
Securities available for sale | 41,318 | 39,113 | |
Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Securities Available for Sale, at Fair Values | 0 | 0 | |
Securities available for sale | 0 | 0 | |
Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Securities Available for Sale, at Fair Values | 24,163 | 21,959 | |
Securities available for sale | 24,163 | 21,959 | |
Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Securities Available for Sale, at Fair Values | 17,155 | 17,154 | |
Securities available for sale | 17,155 | 17,154 | |
Fair Value, Recurring [Member] | Collateralized Mortgage Backed Securities [Member] | |||
Securities Available for Sale, at Fair Values | 358,300 | 295,019 | |
Securities available for sale | 358,300 | 295,019 | |
Fair Value, Recurring [Member] | Collateralized Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Securities Available for Sale, at Fair Values | 0 | 0 | |
Securities available for sale | 0 | 0 | |
Fair Value, Recurring [Member] | Collateralized Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Securities Available for Sale, at Fair Values | 355,001 | 295,019 | |
Securities available for sale | 355,001 | 295,019 | |
Fair Value, Recurring [Member] | Collateralized Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Securities Available for Sale, at Fair Values | 3,299 | 0 | |
Securities available for sale | 3,299 | 0 | |
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | |||
Securities Available for Sale, at Fair Values | 310,000 | 302,253 | |
Securities available for sale | 310,000 | 302,253 | |
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Securities Available for Sale, at Fair Values | 0 | 0 | |
Securities available for sale | 0 | 0 | |
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Securities Available for Sale, at Fair Values | 289,449 | 274,067 | |
Securities available for sale | 289,449 | 274,067 | |
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Securities Available for Sale, at Fair Values | 20,551 | 28,186 | |
Securities available for sale | 20,551 | 28,186 | |
Fair Value, Recurring [Member] | Other Debt Obligations [Member] | |||
Securities Available for Sale, at Fair Values | 1,660 | 1,648 | |
Securities available for sale | 1,660 | 1,648 | |
Fair Value, Recurring [Member] | Other Debt Obligations [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Securities Available for Sale, at Fair Values | 0 | 0 | |
Securities available for sale | 0 | 0 | |
Fair Value, Recurring [Member] | Other Debt Obligations [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Securities Available for Sale, at Fair Values | 1,660 | 1,648 | |
Securities available for sale | 1,660 | 1,648 | |
Fair Value, Recurring [Member] | Other Debt Obligations [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Securities Available for Sale, at Fair Values | 0 | 0 | |
Securities available for sale | $ 0 | $ 0 |
Note 10 - Fair Value of Finan_5
Note 10 - Fair Value of Financial Instruments - Assets Measured on a Nonrecurring Basis (Details) - Fair Value, Nonrecurring [Member] - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Assets measured on a nonrecurring basis | $ 28,244 | $ 21,208 |
Fair Value, Inputs, Level 1 [Member] | ||
Assets measured on a nonrecurring basis | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Assets measured on a nonrecurring basis | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | ||
Assets measured on a nonrecurring basis | 28,244 | 21,208 |
Impaired Loans [Member] | ||
Assets measured on a nonrecurring basis | 18,770 | 11,755 |
Impaired Loans [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets measured on a nonrecurring basis | 0 | 0 |
Impaired Loans [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets measured on a nonrecurring basis | 0 | 0 |
Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets measured on a nonrecurring basis | 18,770 | 11,755 |
Repossessed Assets [Member] | ||
Assets measured on a nonrecurring basis | 9,474 | 9,453 |
Repossessed Assets [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets measured on a nonrecurring basis | 0 | 0 |
Repossessed Assets [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets measured on a nonrecurring basis | 0 | 0 |
Repossessed Assets [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets measured on a nonrecurring basis | $ 9,474 | $ 9,453 |
Note 10 - Fair Value of Finan_6
Note 10 - Fair Value of Financial Instruments - Quantitative Information for Impaired Loans Measured at Fair Value (Details) - Fair Value, Nonrecurring [Member] - Fair Value, Inputs, Level 3 [Member] - Measurement Input, Discount Rate [Member] - Valuation Technique, Discounted Appraisals [Member] | Mar. 31, 2021 | Dec. 31, 2020 |
Minimum [Member] | ||
Impaired Loans | 0.10 | 0.10 |
Maximum [Member] | ||
Impaired Loans | 1 | 1 |
Weighted Average [Member] | ||
Impaired Loans | 0.17 | 0.19 |
Note 10 - Fair Value of Finan_7
Note 10 - Fair Value of Financial Instruments - Estimated Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Financial Assets: | ||
Other Equity Securities | $ 12,584 | $ 12,693 |
Reported Value Measurement [Member] | ||
Financial Assets: | ||
Cash and Short-Term Investments | 460,852 | 323,283 |
Securities | 721,224 | 640,605 |
Mortgage Loans Held for Sale | 2,298 | 969 |
Loans - Net | 3,016,727 | 2,969,331 |
Servicing Rights | 1,203 | 1,439 |
Cash Value of BOLI | 60,348 | 45,030 |
Other Equity Securities | 12,584 | 12,693 |
Total | 4,275,236 | 3,993,350 |
Financial Liabilities: | ||
Deposits | 3,858,734 | 3,616,679 |
Borrowings | 137,012 | 105,990 |
Total | 3,995,746 | 3,722,669 |
Estimate of Fair Value Measurement [Member] | ||
Financial Assets: | ||
Cash and Short-Term Investments | 460,852 | 323,283 |
Securities | 721,224 | 640,605 |
Mortgage Loans Held for Sale | 2,298 | 969 |
Loans - Net | 3,018,067 | 2,969,619 |
Servicing Rights | 2,019 | 1,439 |
Cash Value of BOLI | 60,348 | 45,030 |
Other Equity Securities | 12,584 | 12,693 |
Total | 4,277,392 | 3,993,638 |
Financial Liabilities: | ||
Deposits | 3,857,245 | 3,623,253 |
Borrowings | 143,461 | 127,171 |
Total | 4,000,706 | 3,750,424 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Financial Assets: | ||
Cash and Short-Term Investments | 460,852 | 323,283 |
Securities | 0 | 0 |
Mortgage Loans Held for Sale | 0 | 0 |
Loans - Net | 0 | 0 |
Servicing Rights | 0 | |
Cash Value of BOLI | 0 | 0 |
Other Equity Securities | 0 | 0 |
Total | 460,852 | 323,283 |
Financial Liabilities: | ||
Deposits | 0 | 0 |
Borrowings | 0 | 0 |
Total | 0 | 0 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Financial Assets: | ||
Cash and Short-Term Investments | 0 | 0 |
Securities | 680,219 | 595,265 |
Mortgage Loans Held for Sale | 2,298 | 969 |
Loans - Net | 0 | 0 |
Servicing Rights | 2,019 | 1,439 |
Cash Value of BOLI | 60,348 | 45,030 |
Other Equity Securities | 0 | 0 |
Total | 744,884 | 642,703 |
Financial Liabilities: | ||
Deposits | 0 | 0 |
Borrowings | 143,461 | 127,171 |
Total | 143,461 | 127,171 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Financial Assets: | ||
Cash and Short-Term Investments | 0 | 0 |
Securities | 41,005 | 45,340 |
Mortgage Loans Held for Sale | 0 | 0 |
Loans - Net | 3,018,067 | 2,969,619 |
Servicing Rights | 0 | 0 |
Cash Value of BOLI | 0 | 0 |
Other Equity Securities | 12,584 | 12,693 |
Total | 3,071,656 | 3,027,652 |
Financial Liabilities: | ||
Deposits | 3,857,245 | 3,623,253 |
Borrowings | 0 | 0 |
Total | $ 3,857,245 | $ 3,623,253 |