Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2021 | Nov. 02, 2021 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Sep. 30, 2021 | |
Document Fiscal Year Focus | 2021 | |
Document Fiscal Period Focus | Q3 | |
Trading Symbol | BY | |
Entity Registrant Name | Byline Bancorp, Inc. | |
Entity Central Index Key | 0001702750 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | true | |
Entity Ex Transition Period | false | |
Entity Interactive Data Current | Yes | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Entity Current Reporting Status | Yes | |
Entity Shell Company | false | |
Entity File Number | 001-38139 | |
Entity Tax Identification Number | 36-3012593 | |
Entity Incorporation, State or Country Code | DE | |
Entity Address, Address Line One | 180 North LaSalle Street | |
Entity Address, Address Line Two | Suite 300 | |
Entity Address, City or Town | Chicago | |
Entity Address, State or Province | IL | |
Entity Address, Postal Zip Code | 60601 | |
City Area Code | 773 | |
Local Phone Number | 244-7000 | |
Entity Common Stock, Shares Outstanding | 37,711,380 | |
Title of each class | Common Stock | |
Name of each exchange on which registered | NYSE |
CONDENSED CONSOLIDATED STATEMEN
CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (UNAUDITED) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
ASSETS | ||
Cash and due from banks | $ 46,900 | $ 41,432 |
Interest bearing deposits with other banks | 95,978 | 41,988 |
Cash and cash equivalents | 142,878 | 83,420 |
Equity and other securities, at fair value | 10,299 | 8,764 |
Securities available-for-sale, at fair value | 1,427,605 | 1,447,230 |
Securities held-to-maturity, at amortized cost (fair value at September 30, 2021 -$4,033, December 31,2020 -$4,573) | 3,887 | 4,395 |
Restricted stock, at cost | 15,927 | 10,507 |
Loans held for sale | 48,372 | 7,924 |
Loans and leases: | ||
Loans and leases | 4,609,228 | 4,340,535 |
Allowance for loan and lease losses | (60,598) | (66,347) |
Net loans and leases | 4,548,630 | 4,274,188 |
Servicing assets, at fair value | 23,597 | 22,042 |
Premises and equipment, net | 76,995 | 86,728 |
Other real estate owned, net | 3,033 | 6,350 |
Goodwill and other intangible assets, net | 167,296 | 172,631 |
Bank-owned life insurance | 60,992 | 10,009 |
Deferred tax assets, net | 45,165 | 40,181 |
Accrued interest receivable and other assets | 129,775 | 216,283 |
Total assets | 6,704,451 | 6,390,652 |
LIABILITIES | ||
Non-interest-bearing demand deposits | 2,117,749 | 1,762,676 |
Interest-bearing deposits | 3,040,529 | 2,989,355 |
Total deposits | 5,158,278 | 4,752,031 |
Other borrowings | 539,119 | 647,901 |
Subordinated notes, net | 73,473 | 73,342 |
Junior subordinated debentures issued to capital trusts, net | 36,796 | 36,451 |
Accrued interest payable and other liabilities | 72,367 | 75,463 |
Total liabilities | 5,880,033 | 5,585,188 |
STOCKHOLDERS’ EQUITY | ||
Preferred stock | 10,438 | 10,438 |
Common stock | 386 | 384 |
Additional paid-in capital | 592,192 | 587,165 |
Retained earnings | 258,077 | 191,098 |
Treasury stock, at cost | (31,161) | (1,668) |
Accumulated other comprehensive income (loss), net of tax | (5,514) | 18,047 |
Total stockholders’ equity | 824,418 | 805,464 |
Total liabilities and stockholders’ equity | $ 6,704,451 | $ 6,390,652 |
Preferred shares par value | $ 0.01 | $ 0.01 |
Preferred shares authorized | 50,000 | 50,000 |
Preferred shares issued | 10,438 | 10,438 |
Preferred shares outstanding | 10,438 | 10,438 |
Common shares par value | $ 0.01 | $ 0.01 |
Common shares authorized | 150,000,000 | 150,000,000 |
Common shares issued | 39,170,541 | 38,736,540 |
Common shares outstanding | 37,690,087 | 38,618,054 |
Treasury common shares | 1,480,454 | 118,486 |
CONDENSED CONSOLIDATED STATEM_2
CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (UNAUDITED) (Parenthetical) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Statement Of Financial Position [Abstract] | ||
Securities held-to-maturity, fair value | $ 4,033 | $ 4,573 |
CONDENSED CONSOLIDATED STATEM_3
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
INTEREST AND DIVIDEND INCOME | ||||
Interest and fees on loans and leases | $ 56,291 | $ 51,036 | $ 164,423 | $ 155,347 |
Interest on securities | 5,534 | 7,070 | 17,982 | 22,616 |
Other interest and dividend income | 947 | 128 | 1,837 | 1,342 |
Total interest and dividend income | 62,772 | 58,234 | 184,242 | 179,305 |
INTEREST EXPENSE | ||||
Deposits | 986 | 2,760 | 3,465 | 14,810 |
Other borrowings | 349 | 465 | 1,333 | 2,838 |
Subordinated notes and debentures | 1,592 | 1,485 | 4,785 | 2,699 |
Total interest expense | 2,927 | 4,710 | 9,583 | 20,347 |
Net interest income | 59,845 | 53,524 | 174,659 | 158,958 |
PROVISION FOR LOAN AND LEASE LOSSES | 352 | 15,740 | 2,750 | 45,713 |
Net interest income after provision for loan and lease losses | 59,493 | 37,784 | 171,909 | 113,245 |
NON-INTEREST INCOME | ||||
Total non-interest income | 18,495 | 22,234 | 55,239 | 44,370 |
ATM and interchange fees | 1,201 | 1,028 | 3,257 | 3,089 |
Net realized gains on securities available-for-sale | 130 | 1,037 | 1,456 | 2,412 |
Change in fair value of equity securities, net | (275) | 154 | 36 | 301 |
Net gains on sales of loans | 12,761 | 12,671 | 33,350 | 23,900 |
Wealth management and trust income | 815 | 693 | 2,305 | 1,970 |
Other non-interest income | 1,302 | 990 | 4,383 | 1,946 |
NON-INTEREST EXPENSE | ||||
Salaries and employee benefits | 25,978 | 23,126 | 72,372 | 67,197 |
Occupancy and equipment expense, net | 4,982 | 5,220 | 15,617 | 16,103 |
Loan and lease related expenses | 1,175 | 2,053 | 3,629 | 4,631 |
Legal, audit and other professional fees | 2,710 | 2,390 | 7,822 | 6,802 |
Data processing | 3,108 | 2,661 | 8,710 | 8,152 |
Net loss recognized on other real estate owned and other related expenses | 42 | 349 | 1,052 | 1,324 |
Other intangible assets amortization expense | 1,738 | 1,947 | 5,335 | 5,732 |
Other non-interest expense | 4,447 | 3,941 | 11,466 | 12,460 |
Total non-interest expense | 44,180 | 41,687 | 126,003 | 122,401 |
INCOME BEFORE PROVISION FOR INCOME TAXES | 33,808 | 18,331 | 101,145 | 35,214 |
PROVISION FOR INCOME TAXES | 8,502 | 5,260 | 25,549 | 10,038 |
NET INCOME | 25,306 | 13,071 | 75,596 | 25,176 |
Dividends on preferred shares | 196 | 196 | 587 | 587 |
INCOME AVAILABLE TO COMMON STOCKHOLDERS | $ 25,110 | $ 12,875 | $ 75,009 | $ 24,589 |
EARNINGS PER COMMON SHARE | ||||
Basic | $ 0.68 | $ 0.34 | $ 1.99 | $ 0.65 |
Diluted | $ 0.66 | $ 0.34 | $ 1.95 | $ 0.64 |
Fees and Service Charges on Deposits [Member] | ||||
NON-INTEREST INCOME | ||||
Total non-interest income | $ 1,867 | $ 1,603 | $ 5,299 | $ 4,731 |
Loan Servicing Revenue [Member] | ||||
NON-INTEREST INCOME | ||||
Total non-interest income | 3,344 | 2,936 | 9,301 | 8,674 |
Loan Servicing Asset Revaluation [Member] | ||||
NON-INTEREST INCOME | ||||
Total non-interest income | $ (2,650) | $ 1,122 | $ (4,148) | $ (2,653) |
CONDENSED CONSOLIDATED STATEM_4
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Statement Of Other Comprehensive Income [Abstract] | ||||
Net income | $ 25,306 | $ 13,071 | $ 75,596 | $ 25,176 |
Securities available-for-sale | ||||
Unrealized holding gains (losses) arising during the period | (8,439) | 33 | (32,876) | 30,100 |
Reclassification adjustments for net gains included in net income | (130) | (1,037) | (1,456) | (2,412) |
Tax effect | 2,387 | 280 | 9,560 | (7,710) |
Net of tax | (6,182) | (724) | (24,772) | 19,978 |
Cash flow hedges | ||||
Unrealized holding gains arising during the period | 651 | 1,606 | ||
Reclassification adjustments for net losses included in net income | 29 | 22 | 71 | 64 |
Tax effect | (189) | (7) | (466) | (18) |
Net of tax | 491 | 15 | 1,211 | 46 |
Total other comprehensive income (loss) | (5,691) | (709) | (23,561) | 20,024 |
Comprehensive income (loss) | $ 19,615 | $ 12,362 | $ 52,035 | $ 45,200 |
CONDENSED CONSOLIDATED STATEM_5
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS EQUITY (UNAUDITED) - USD ($) $ in Thousands | Total | Preferred Stock | Common Stock | Additional Paid-In Capital | Retained Earnings | Treasury Stock | Accumulated Other Comprehensive Income (Loss) |
Beginning balance at Dec. 31, 2019 | $ 750,115 | $ 10,438 | $ 379 | $ 580,965 | $ 159,033 | $ (700) | |
Beginning balance, shares at Dec. 31, 2019 | 10,438 | 38,256,500 | |||||
Net income | 2,966 | 2,966 | |||||
Other comprehensive income (loss), net of tax | 11,048 | 11,048 | |||||
Issuance of common stock upon exercise of stock options | 677 | $ 1 | 676 | ||||
Issuance of common stock upon exercise of stock options, shares | 55,402 | ||||||
Restricted stock activity, shares | 174,036 | ||||||
Issuance of common stock in connection with employee stock purchase plan | 268 | 268 | |||||
Issuance of common stock in connection with employee stock purchase plan, shares | 15,569 | ||||||
Cash dividends declared on preferred stock | (196) | (196) | |||||
Cash dividends declared on common stock | (1,151) | (1,151) | |||||
Repurchase of common stock | (1,668) | $ (1,668) | |||||
Repurchase of common stock, shares | (118,486) | ||||||
Share-based compensation expense | 608 | 608 | |||||
Ending balance at Mar. 31, 2020 | 762,667 | $ 10,438 | $ 380 | 582,517 | 160,652 | (1,668) | 10,348 |
Ending balance, shares at Mar. 31, 2020 | 10,438 | 38,383,021 | |||||
Beginning balance at Dec. 31, 2019 | 750,115 | $ 10,438 | $ 379 | 580,965 | 159,033 | (700) | |
Beginning balance, shares at Dec. 31, 2019 | 10,438 | 38,256,500 | |||||
Net income | 25,176 | ||||||
Other comprehensive income (loss), net of tax | 20,024 | 20,024 | |||||
Ending balance at Sep. 30, 2020 | 794,696 | $ 10,438 | $ 383 | 586,057 | 180,162 | (1,668) | 19,324 |
Ending balance, shares at Sep. 30, 2020 | 10,438 | 38,568,916 | |||||
Beginning balance at Dec. 31, 2019 | 750,115 | $ 10,438 | $ 379 | 580,965 | 159,033 | (700) | |
Beginning balance, shares at Dec. 31, 2019 | 10,438 | 38,256,500 | |||||
Ending balance at Dec. 31, 2020 | 805,464 | $ 10,438 | $ 384 | 587,165 | 191,098 | (1,668) | 18,047 |
Ending balance, shares at Dec. 31, 2020 | 10,438 | 38,618,054 | |||||
Beginning balance at Mar. 31, 2020 | 762,667 | $ 10,438 | $ 380 | 582,517 | 160,652 | (1,668) | 10,348 |
Beginning balance, shares at Mar. 31, 2020 | 10,438 | 38,383,021 | |||||
Net income | 9,139 | 9,139 | |||||
Other comprehensive income (loss), net of tax | 9,685 | 9,685 | |||||
Issuance of common stock upon exercise of stock options | 56 | 56 | |||||
Issuance of common stock upon exercise of stock options, shares | 5,196 | ||||||
Restricted stock activity | $ 1 | (1) | |||||
Cash dividends declared on preferred stock | (195) | (195) | |||||
Cash dividends declared on common stock | (1,152) | (1,152) | |||||
Share-based compensation expense | 735 | 735 | |||||
Ending balance at Jun. 30, 2020 | 780,935 | $ 10,438 | $ 381 | 583,307 | 168,444 | (1,668) | 20,033 |
Ending balance, shares at Jun. 30, 2020 | 10,438 | 38,388,217 | |||||
Net income | 13,071 | 13,071 | |||||
Other comprehensive income (loss), net of tax | (709) | (709) | |||||
Issuance of common stock upon exercise of stock options | 1,815 | $ 1 | 1,814 | ||||
Issuance of common stock upon exercise of stock options, shares | 165,375 | ||||||
Restricted stock activity, shares | 5,886 | ||||||
Issuance of common stock in connection with employee stock purchase plan | 269 | $ 1 | 268 | ||||
Issuance of common stock in connection with employee stock purchase plan, shares | 21,210 | ||||||
Cash dividends declared on preferred stock | (196) | (196) | |||||
Cash dividends declared on common stock | (1,157) | (1,157) | |||||
Share-based compensation expense | 668 | 668 | |||||
Ending balance at Sep. 30, 2020 | 794,696 | $ 10,438 | $ 383 | 586,057 | 180,162 | (1,668) | 19,324 |
Ending balance, shares at Sep. 30, 2020 | 10,438 | 38,568,916 | |||||
Net income | 12,291 | 12,291 | |||||
Other comprehensive income (loss), net of tax | (1,277) | (1,277) | |||||
Issuance of common stock upon exercise of stock options | 541 | $ 1 | 540 | ||||
Issuance of common stock upon exercise of stock options, shares | 49,138 | ||||||
Cash dividends declared on preferred stock | (196) | (196) | |||||
Cash dividends declared on common stock | (1,159) | (1,159) | |||||
Share-based compensation expense | 568 | 568 | |||||
Ending balance at Dec. 31, 2020 | 805,464 | $ 10,438 | $ 384 | 587,165 | 191,098 | (1,668) | 18,047 |
Ending balance, shares at Dec. 31, 2020 | 10,438 | 38,618,054 | |||||
Net income | 21,798 | 21,798 | |||||
Other comprehensive income (loss), net of tax | (26,394) | (26,394) | |||||
Issuance of common stock upon exercise of stock options | 751 | $ 1 | 750 | ||||
Issuance of common stock upon exercise of stock options, shares | 55,908 | ||||||
Restricted stock activity | (244) | (244) | |||||
Restricted stock activity, shares | 274,739 | ||||||
Issuance of common stock in connection with employee stock purchase plan | 515 | 515 | |||||
Issuance of common stock in connection with employee stock purchase plan, shares | 25,894 | ||||||
Cash dividends declared on preferred stock | (196) | (196) | |||||
Cash dividends declared on common stock | (2,315) | (2,315) | |||||
Repurchase of common stock | (6,363) | (6,363) | |||||
Repurchase of common stock, shares | (332,744) | ||||||
Share-based compensation expense | 779 | 779 | |||||
Ending balance at Mar. 31, 2021 | 793,795 | $ 10,438 | $ 385 | 589,209 | 210,385 | (8,275) | (8,347) |
Ending balance, shares at Mar. 31, 2021 | 10,438 | 38,641,851 | |||||
Beginning balance at Dec. 31, 2020 | 805,464 | $ 10,438 | $ 384 | 587,165 | 191,098 | (1,668) | 18,047 |
Beginning balance, shares at Dec. 31, 2020 | 10,438 | 38,618,054 | |||||
Net income | 75,596 | ||||||
Other comprehensive income (loss), net of tax | (23,561) | (23,561) | |||||
Repurchase of common stock | $ (28,900) | ||||||
Repurchase of common stock, shares | (1,331,708) | ||||||
Ending balance at Sep. 30, 2021 | $ 824,418 | $ 10,438 | $ 386 | 592,192 | 258,077 | (31,161) | (5,514) |
Ending balance, shares at Sep. 30, 2021 | 10,438 | 37,690,087 | |||||
Beginning balance at Mar. 31, 2021 | 793,795 | $ 10,438 | $ 385 | 589,209 | 210,385 | (8,275) | (8,347) |
Beginning balance, shares at Mar. 31, 2021 | 10,438 | 38,641,851 | |||||
Net income | 28,492 | 28,492 | |||||
Other comprehensive income (loss), net of tax | 8,524 | 8,524 | |||||
Issuance of common stock upon exercise of stock options | 135 | 135 | |||||
Issuance of common stock upon exercise of stock options, shares | 11,031 | ||||||
Restricted stock activity | (344) | (344) | |||||
Restricted stock activity, shares | 19,166 | ||||||
Cash dividends declared on preferred stock | (195) | (195) | |||||
Cash dividends declared on common stock | (2,319) | (2,319) | |||||
Repurchase of common stock | (12,093) | (12,093) | |||||
Repurchase of common stock, shares | (538,744) | ||||||
Share-based compensation expense | 1,078 | 1,078 | |||||
Ending balance at Jun. 30, 2021 | 817,073 | $ 10,438 | $ 385 | 590,422 | 236,363 | (20,712) | 177 |
Ending balance, shares at Jun. 30, 2021 | 10,438 | 38,094,972 | |||||
Net income | 25,306 | 25,306 | |||||
Other comprehensive income (loss), net of tax | (5,691) | (5,691) | |||||
Issuance of common stock upon exercise of stock options | 283 | 283 | |||||
Issuance of common stock upon exercise of stock options, shares | 25,866 | ||||||
Restricted stock activity | (38) | $ 1 | (1) | (38) | |||
Restricted stock activity, shares | 12,879 | ||||||
Issuance of common stock in connection with employee stock purchase plan | 408 | 408 | |||||
Issuance of common stock in connection with employee stock purchase plan, shares | 16,590 | ||||||
Cash dividends declared on preferred stock | (196) | (196) | |||||
Cash dividends declared on common stock | (3,396) | (3,396) | |||||
Repurchase of common stock | $ (10,411) | (10,411) | |||||
Repurchase of common stock, shares | (460,220) | 460,220 | |||||
Share-based compensation expense | $ 1,080 | 1,080 | |||||
Ending balance at Sep. 30, 2021 | $ 824,418 | $ 10,438 | $ 386 | $ 592,192 | $ 258,077 | $ (31,161) | $ (5,514) |
Ending balance, shares at Sep. 30, 2021 | 10,438 | 37,690,087 |
CONDENSED CONSOLIDATED STATEM_6
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS EQUITY (UNAUDITED) (Parenthetical) - $ / shares | 3 Months Ended | ||||||
Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | |
Statement Of Stockholders Equity [Abstract] | |||||||
Dividends per share | $ 0.09 | $ 0.06 | $ 0.06 | $ 0.03 | $ 0.03 | $ 0.03 | $ 0.03 |
CONDENSED CONSOLIDATED STATEM_7
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net income | $ 75,596 | $ 25,176 |
Adjustments to reconcile net income to net cash from operating activities: | ||
PROVISION FOR LOAN AND LEASE LOSSES | 2,750 | 45,713 |
Impairment loss on assets held for sale | 3,981 | 747 |
Depreciation and amortization of premises and equipment | 4,603 | 4,849 |
Net amortization of securities | 6,649 | 5,445 |
Net change in fair value of equity securities, net | (36) | (301) |
Net realized gains on securities available-for-sale | (1,456) | (2,412) |
Net losses (gains) on sales and valuation adjustments of premises and equipment | (497) | 156 |
Net gains on sales of loans | (33,350) | (23,900) |
Originations of U.S. government guaranteed loans | (323,010) | (301,177) |
Proceeds from U.S. government guaranteed loans sold | 312,733 | 232,251 |
Accretion of premiums and discounts on acquired loans, net | (5,001) | (10,754) |
Net change in servicing assets | (1,555) | (1,796) |
Net losses on sales and valuation adjustments of other real estate owned | 755 | 999 |
Net amortization of other acquisition accounting adjustments | 5,261 | 5,676 |
Amortization of subordinated debt issuance cost | 131 | 41 |
Accretion of junior subordinated debentures discount | 345 | 385 |
Share-based compensation expense | 2,937 | 2,011 |
Deferred tax provision (benefit), net of valuation | 4,108 | 2,643 |
Increase in cash surrender value of bank owned life insurance | (983) | (202) |
Loss On Redemption Of Junior Subordinated Debentures | 0 | 112 |
Changes in assets and liabilities: | ||
Accrued interest receivable and other assets | 9,706 | (3,161) |
Accrued interest payable and other liabilities | (17,565) | 20,552 |
Net cash provided by operating activities | 46,102 | 3,053 |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Purchases of securities available-for-sale | (514,506) | (742,303) |
Proceeds from maturities and calls of securities available-for-sale | 37,108 | 173,581 |
Proceeds from paydowns of securities available-for-sale | 269,286 | 189,913 |
Proceeds from sales of securities available-for-sale | 280,962 | 80,509 |
Proceeds from maturities and calls of securities held-to-maturity | 500 | 0 |
Purchases of Federal Home Loan Bank stock, net | (5,420) | 12,475 |
Net change in loans and leases | (272,913) | (596,536) |
Purchases of premises and equipment | (1,762) | (4,148) |
Proceeds from sales of premises and equipment | 296 | 32 |
Proceeds from sales of assets held for sale | 4,919 | 0 |
Proceeds from sales of other real estate owned | 2,998 | 874 |
Investment in bank owned life insurance | (50,000) | 0 |
Proceeds from bank owned life insurance death benefit | 0 | 69 |
Net cash used in investing activities | (248,532) | (885,534) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Net increase in deposits | 406,321 | 662,724 |
Proceeds from short-term borrowings | 11,953,000 | 6,407,800 |
Repayments of short-term borrowings | (11,832,000) | (6,682,800) |
Proceeds from Paycheck Protection Program Liquidity Facility (PPPLF) advances | 196,679 | 449,889 |
Repayments of PPPLF advances | (412,182) | (279) |
Proceeds From Subordinated Notes | 0 | 73,258 |
Repayments of junior subordinated debentures | 0 | (1,500) |
Net decrease in securities sold under agreements to repurchase | (14,279) | (3,688) |
Dividends paid on preferred stock | (587) | (587) |
Dividends paid on common stock | (7,928) | (3,412) |
Proceeds from issuance of common stock | 1,731 | 3,085 |
Repurchases of common stock | (28,867) | (1,668) |
Net cash provided by financing activities | 261,888 | 902,822 |
NET INCREASE IN CASH AND CASH EQUIVALENTS | 59,458 | 20,341 |
CASH AND CASH EQUIVALENTS, beginning of period | 83,420 | 80,737 |
CASH AND CASH EQUIVALENTS, end of period | 142,878 | 101,078 |
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | ||
Cash paid during the period for interest | 8,901 | 21,130 |
Cash paid during the period for taxes | 25,525 | 7,697 |
SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING ACTIVITIES: | ||
Common dividend declared, not paid | $ 102 | $ 1,196 |
Basis of Presentation
Basis of Presentation | 9 Months Ended |
Sep. 30, 2021 | |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | |
Basis of Presentation | Note 1—Basis of Present ation These unaudited interim condensed consolidated financial statements include the accounts of Byline Bancorp, Inc., a Delaware corporation (the “Company,” “Byline,” “we,” “us,” “our”), a bank holding company whose principal activity is the ownership and management of its Illinois state chartered subsidiary bank, Byline Bank (the “Bank”), based in Chicago, Illinois. These unaudited interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X as promulgated by the Securities and Exchange Commission (“SEC”). In preparing these financial statements, the Company has evaluated events and transactions subsequent to September 30, 2021 for potential recognition or disclosure. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation of the financial position and results of operations for the periods presented have been included. Certain information in footnote disclosures normally included in financial statements prepared in accordance with GAAP has been condensed or omitted pursuant to the rules and regulations of the SEC and the accounting standards for interim financial statements. These financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Consolidated Financial Statements for the years ended December 31, 2020, 2019, and 2018. In accordance with the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 855, “Subsequent Events,” the Company’s management has evaluated subsequent events for potential recognition or disclosure through the date of the issuance of these condensed consolidated financial statements. The Company has one reportable segment. The Company’s chief operating decision maker evaluates the operations of the Company using consolidated information for purposes of allocating resources and assessing performance. Therefore, segments disclosures are not required. No subsequent events were identified that would have required a change to the condensed consolidated financial statements or disclosure in the notes to the condensed consolidated financial statements. Certain prior period amounts have been reclassified to conform to current period presentation. These reclassifications did not result in any changes to previously reported net income or stockholders’ equity. |
Accounting Pronouncements Recen
Accounting Pronouncements Recently Adopted or Issued | 9 Months Ended |
Sep. 30, 2021 | |
Accounting Changes And Error Corrections [Abstract] | |
Accounting Pronouncements Recently Adopted or Issued | Note 2—Accounting Pronouncements Recently Adopted or Issued The following reflect recent accounting pronouncements that have been adopted or are pending adoption by the Company. As the Company qualifies as an emerging growth company and has elected the extended transition period for complying with new or revised accounting pronouncements, it is not subject to new or revised accounting standards applicable to public companies during the extended transition period. The accounting pronouncements pending adoption below reflect effective dates for the Company as an emerging growth company with the extended transition period. Adopted Accounting Pronouncement Leases (Topic 842) — On January 1, 2021, the Company adopted ASU No. 2016-02 Leases and subsequent amendments thereto, which requires the Company to recognize most leases on the balance sheet. We adopted the standard under a modified retrospective approach as of the date of adoption and elected to apply several of the available practical expedients, including: • Carry over of historical lease determination and lease classification conclusions • Carry over of historical initial direct cost balances for existing leases • Option not to recognize right-of-use assets and lease liabilities that arise from short-term leases (i.e. lease terms of twelve months or less) • Use of hindsight in determining the lease term and right-of-use assets • Accounting for lease and non-lease components in contracts in which the Company is a lessee as a single lease component Adoption of the leasing standard resulted in the recognition of operating right-of-use assets of $ 10.5 million and operating lease liabilities of $ 11.7 million as of January 1, 2021. These amounts were determined based on the present value of remaining minimum lease payments, discounted using the Company’s incremental borrowing rate as of the date of adoption. This guidance also applies to the Company’s investment in direct financing leases, which are included in loans, but did not have a material impact. There was no material impact to the timing of expense or income recognition in the Company’s Consolidated Statements of Operations. Prior periods were not restated and continue to be presented under legacy GAAP. Refer to Note 8—Leases for further details. Issued Accounting Pronouncements Pending Adoption Financial Instruments—Credit Losses (Topic 326) —In June 2016, FASB issued ASU No. 2016‑13, Measurement of Credit Losses on Financial Instruments . Current GAAP requires an “incurred loss” methodology for recognizing credit losses that delays recognition until it is probable a loss has been incurred. The main objective of this ASU is to provide financial statement users with more decision-useful information about the expected credit losses on financial instruments and other commitments to extend credit held by a reporting entity at each reporting date. The amendments in this ASU replace the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The amendments in this ASU require a financial asset (or group of financial assets) measured at amortized cost basis to be presented at the net amount expected to be collected. The allowance for credit losses is a valuation account that is deducted from the amortized cost basis of the financial asset(s) to present the net carrying value at the amount expected to be collected on the financial asset. The measurement of expected credit losses will be based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. The amendments in this ASU broaden the information that an entity must consider in developing its expected credit loss estimate for assets measured either collectively or individually. The use of forecasted information incorporates more timely information in the estimate of expected credit loss, which will be more useful to users of the financial statements. In November 2019, FASB issued ASU No. 2019-10, Effective Dates , which delays the effective date of the ASU for entities not classified as a public business entity. Assuming the Company remains an emerging growth company, the Company anticipates adopting the standard on December 31, 2022. The Company is in the process of implementation and determining the impact that this ASU will have on the Company’s Consolidated Financial Statements. Income Taxes (Topic 740) —In December 2019, FASB issued ASU No. 2019-12, Simplifying the Accounting for Income Taxes . The amendments in the ASU simplify the accounting for income taxes by removing the following: the exception to the incremental approach for intraperiod tax allocation when there is a loss from continuing operations and income or a gain from other items; the exception to the requirement to or not to recognize a deferred tax liability for a foreign entity when it becomes an equity method investment or it becomes a subsidiary, respectively; and the exception to the general methodology for calculating income taxes in an interim period when a year-to-date loss exceeds the anticipated loss for the year. The amendments in the ASU changes current authoritative guidance by requiring the recognition of franchise tax that is partially based on income as an income-based tax and account for any incremental amount incurred as a non-income-based tax; requiring an evaluation when a step up in the tax basis of goodwill should be considered part the of business combination; specifying that it is not required to allocate the consolidated amount of current and deferred tax expense to a legal entity that is not subject to tax in its separate financial statements; and requiring that an entity reflect the effect of an enacted change in tax laws or rates in the annual effective tax rate computation in the interim period that includes the enactment date. The amendments are effective for annual periods beginning after December 15, 2021, and interim periods within annual periods beginning after December 15, 2022. Early adoption is permitted. Assuming the Company remains an emerging growth company, the new authoritative guidance will be effective for reporting periods after January 1, 2022. The Company is currently evaluating the provisions of ASU No. 2019-12 to determine the potential impact the new standard will have on the Company’s Consolidated Financial Statements. Reference Rate Reform (Topic 848) —In March 2020, FASB issued ASU No. 2020-04, Facilitation of the Effects of Reference Rate Reform on Financial Reporting and in January 2021, the FASB issued ASU No. 2021-01, Reference Rate Reform . The amendments in the ASU provide optional guidance for a limited period of time to ease the potential burden in accounting for (or recognizing the effects of) reference rate reform on financial reporting. The amendments in the ASU provide optional expedients and exceptions for applying generally accepted accounting principles to contract modifications and hedging relationships, subject to meeting certain criteria, that reference LIBOR or another reference rate expected to be discontinued. The ASU is intended to help stakeholders during the global market-wide reference rate transition period. The amendments in the ASU will be in effect for all entities as of March 12, 2020 through December 31, 2022. The Company is currently evaluating the impact of reference rate reform to determine the potential impact the new standard will have on the Company’s Consolidated Financial Statements. |
Securities
Securities | 9 Months Ended |
Sep. 30, 2021 | |
Investments Debt And Equity Securities [Abstract] | |
Securities | Note 3—Securities The following tables summarize the amortized cost and fair values of securities available-for-sale and securities held-to-maturity as of the dates shown and the corresponding amounts of gross unrealized gains and losses: September 30, 2021 Amortized Gross Gross Fair Available-for-sale U.S. Treasury Notes $ 8,487 $ 91 $ — $ 8,578 U.S. Government agencies 124,244 885 ( 1,865 ) 123,264 Obligations of states, municipalities, and 101,499 3,725 ( 164 ) 105,060 Residential mortgage-backed securities Agency 794,856 3,303 ( 12,986 ) 785,173 Non-agency 64,645 86 ( 722 ) 64,009 Commercial mortgage-backed securities Agency 237,376 3,179 ( 3,146 ) 237,409 Corporate securities 64,842 2,002 ( 17 ) 66,827 Asset-backed securities 37,203 83 ( 1 ) 37,285 Total $ 1,433,152 $ 13,354 $ ( 18,901 ) $ 1,427,605 September 30, 2021 Amortized Gross Gross Fair Held-to-maturity Obligations of states, municipalities, and $ 3,887 $ 146 $ — $ 4,033 Total $ 3,887 $ 146 $ — $ 4,033 December 31, 2020 Amortized Gross Gross Fair Available-for-sale U.S. Treasury Notes $ 23,468 $ 344 $ — $ 23,812 U.S. Government agencies 113,088 600 ( 137 ) 113,551 Obligations of states, municipalities, and 135,513 6,991 ( 85 ) 142,419 Residential mortgage-backed securities Agency 764,951 13,645 ( 205 ) 778,391 Non-agency 32,654 332 ( 5 ) 32,981 Commercial mortgage-backed securities Agency 244,496 6,046 ( 390 ) 250,152 Corporate securities 59,020 1,850 ( 102 ) 60,768 Asset-backed securities 45,255 26 ( 125 ) 45,156 Total $ 1,418,445 $ 29,834 $ ( 1,049 ) $ 1,447,230 December 31, 2020 Amortized Gross Gross Fair Held-to-maturity Obligations of states, municipalities, and political $ 4,395 $ 178 $ — $ 4,573 Total $ 4,395 $ 178 $ — $ 4,573 The Company did no t classify securities as trading during the nine months ended September 30, 2021 or during 2020. Gross unrealized losses and fair values, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position as of September 30, 2021 and December 31, 2020, are summarized as follows: Less than 12 Months 12 Months or Longer Total September 30, 2021 # of Fair Unrealized Fair Unrealized Fair Unrealized Available-for-sale U.S. Government agencies 10 $ 74,687 $ ( 1,506 ) $ 9,641 $ ( 359 ) $ 84,328 $ ( 1,865 ) Obligations of states, 7 8,097 ( 164 ) — — 8,097 ( 164 ) Residential mortgage-backed Agency 51 620,325 ( 12,626 ) 11,805 ( 360 ) 632,130 ( 12,986 ) Non-agency 5 34,310 ( 722 ) — — 34,310 ( 722 ) Commercial mortgage-backed Agency 21 75,001 ( 2,369 ) 26,823 ( 777 ) 101,824 ( 3,146 ) Corporate securities 2 5,041 ( 17 ) — — 5,041 ( 17 ) Asset-backed securities 1 4,997 ( 1 ) — — 4,997 ( 1 ) Total 97 $ 822,458 $ ( 17,405 ) $ 48,269 $ ( 1,496 ) $ 870,727 $ ( 18,901 ) Less than 12 Months 12 Months or Longer Total December 31, 2020 # of Fair Unrealized Fair Unrealized Fair Unrealized Available-for-sale U.S. Government agencies 5 $ 30,639 $ ( 137 ) $ — $ — $ 30,639 $ ( 137 ) Obligations of states, 2 210 ( 85 ) — — 210 ( 85 ) Residential mortgage-backed Agency 8 45,253 ( 198 ) 472 ( 7 ) 45,725 ( 205 ) Non-agency 2 3,963 ( 5 ) — — 3,963 ( 5 ) Commercial mortgage-backed Agency 8 55,554 ( 390 ) — — 55,554 ( 390 ) Corporate securities 6 10,916 ( 102 ) — — 10,916 ( 102 ) Asset-backed securities 6 24,436 ( 99 ) 4,952 ( 26 ) 29,388 ( 125 ) Total 37 $ 170,971 $ ( 1,016 ) $ 5,424 $ ( 33 ) $ 176,395 $ ( 1,049 ) Certain securities have fair values less than amortized cost and, therefore, contain unrealized losses. The Company evaluated the securities that had an unrealized loss for other than temporary impairment and determined all declines in value to be temporary. There were 97 securities available-for-sale with unrealized losses at September 30, 2021 . There were no securities held-to-maturity with unrealized losses at September 30, 2021. The Company anticipates full recovery of amortized cost with respect to these securities by maturity, or sooner, in the event of a more favorable market interest rate environment. The Company does not intend to sell these securities and it is not more likely than not that the Company will be required to sell them before recovery of their amortized cost basis, which may be at maturity. The proceeds from all sales of securities available-for-sale, and the associated gains and losses on sales and calls of securities, for the three and nine months ended September 30, 2021 and 2020 are listed below: For the Three Months Ended For the Nine Months Ended September 30, September 30, 2021 2020 2021 2020 Proceeds $ — $ 35,092 $ 186,850 $ 80,509 Gross gains 130 1,037 2,525 2,494 Gross losses — — 1,069 82 There were $ 130,000 and $ 1.5 million in net gains reclassified from accumulated other comprehensive income into earnings for the three and nine months ended September 30, 2021 , respectively. There were $ 1.0 million and $ 2.4 million in net gains reclassified from accumulated other comprehensive income into earnings for the three and nine months ended September 30, 2020, respectively. Securities posted as collateral were $ 361.0 million and $ 731.8 million at September 30, 2021 and December 31, 2020, respectively, of which carrying amounts of $ 361.0 million and $ 323.9 million were pledged at September 30, 2021 and December 31, 2020, respectively. At September 30, 2021 and December 31, 2020 , of those pledged, the carrying amounts of securities pledged as collateral for public fund deposits were $ 311.3 million and $ 245.1 million, respectively, and for customer repurchase agreements of $ 38.7 million and $ 64.1 million, respectively. At September 30, 2021 and December 31, 2020 , there were no securities pledged for advances from the Federal Home Loan Bank. Other securities were pledged for derivative positions, letters of credit and for purposes required or permitted by law. At September 30, 2021 and December 31, 2020 , there were no holdings of securities of any one issuer, other than the U.S. Government and its agencies, in an amount greater than 10 % of stockholders’ equity. At September 30, 2021, the amortized cost and fair value of debt securities are shown by contractual maturity. Expected maturities may differ from contractual maturities if borrowers have the right to call or prepay obligations with or without call or prepayment penalties. Securities not due at a single maturity date are shown separately. Amortized Fair Available-for-sale Due in one year or less $ 23,201 $ 23,402 Due from one to five years 26,476 27,466 Due from five to ten years 209,435 211,691 Due after ten years 77,163 78,455 Mortgage-backed securities 1,096,877 1,086,591 Total $ 1,433,152 $ 1,427,605 Held-to-maturity Due from one to five years 3,887 4,033 Total $ 3,887 $ 4,033 |
Loan and Lease Receivables
Loan and Lease Receivables | 9 Months Ended |
Sep. 30, 2021 | |
Receivables [Abstract] | |
Loan and Lease Receivables | Note 4—Loan and Lease Receivables Outstanding loan and lease receivables as of the dates shown were categorized as follows: September 30, December 31, 2021 2020 Commercial real estate $ 1,615,875 $ 1,416,731 Residential real estate 507,226 569,387 Construction, land development, and other land 340,428 231,602 Commercial and industrial 1,535,412 1,372,452 Paycheck Protection Program ("PPP") 275,619 527,044 Installment and other 1,396 1,942 Lease financing receivables 334,484 223,295 Total loans and leases 4,610,440 4,342,453 Net unamortized deferred fees and costs ( 5,484 ) ( 5,764 ) Initial direct costs 4,272 3,846 Allowance for loan and lease losses ( 60,598 ) ( 66,347 ) Net loans and leases $ 4,548,630 $ 4,274,188 September 30, December 31, 2021 2020 Lease financing receivables Net minimum lease payments $ 337,512 $ 234,472 Unguaranteed residual values 22,338 8,690 Unearned income ( 25,366 ) ( 19,867 ) Total lease financing receivables 334,484 223,295 Initial direct costs 4,272 3,846 Lease financial receivables before allowance for $ 338,756 $ 227,141 Total loans and leases consist of originated loans and leases, acquired impaired loans and acquired non-impaired loans and leases. At September 30, 2021 and December 31, 2020 , total loans and leases included the guaranteed amount of U.S. government guaranteed loans of $ 396.6 million and $ 635.0 million, respectively. At September 30, 2021 and December 31, 2020 , the discount on the unguaranteed portion of U.S. government guaranteed loans was $ 27.9 million and $ 28.3 million, respectively, which are included in total loans and leases. At September 30, 2021 and December 31, 2020 , installment and other loans included overdraft deposits of $ 477,000 and $ 496,000 , respectively, which were reclassified as loans. At September 30, 2021 and December 31, 2020 , loans and leases and loans held for sale pledged as security for borrowings were $ 2.0 billion and $ 2.3 billion, respectively. The minimum annual lease payments for lease financing receivables as of September 30, 2021 are summarized as follows: Minimum Lease 2021 $ 27,875 2022 110,733 2023 85,005 2024 59,682 2025 39,328 Thereafter 14,889 Total $ 337,512 Originated loans and leases represent originations excluding loans initially acquired in a business combination. However, once an acquired non-impaired loan reaches its maturity date, and is re-underwritten and renewed, it is internally classified as an originated loan. Acquired impaired loans are loans acquired from a business combination with evidence of credit quality deterioration and are accounted for under ASC Topic 310-30. Acquired non-impaired loans and leases represent loans and leases acquired from a business combination without more than insignificant evidence of credit quality deterioration and are accounted for under ASC Topic 310-20. Acquired leases and revolving loans having evidence of credit quality deterioration do not qualify to be accounted for as acquired impaired loans and are accounted for under ASC Topic 310-20. The following tables summarize the balances for each respective loan and lease category as of September 30, 2021 and December 31, 2020: September 30, 2021 Originated Acquired Acquired Total Commercial real estate $ 1,298,454 $ 84,821 $ 235,103 $ 1,618,378 Residential real estate 387,578 61,893 58,283 507,754 Construction, land development, and other land 336,460 1,746 206 338,412 Commercial and industrial 1,480,076 6,651 49,678 1,536,405 Paycheck Protection Program 268,081 — — 268,081 Installment and other 998 169 275 1,442 Lease financing receivables 331,149 — 7,607 338,756 Total loans and leases $ 4,102,796 $ 155,280 $ 351,152 $ 4,609,228 December 31, 2020 Originated Acquired Acquired Total Commercial real estate $ 1,017,587 $ 108,484 $ 295,599 $ 1,421,670 Residential real estate 414,220 78,840 79,211 572,271 Construction, land development, and other land 226,408 4,113 212 230,733 Commercial and industrial 1,276,527 10,178 82,195 1,368,900 Paycheck Protection Program 517,815 — — 517,815 Installment and other 1,267 202 536 2,005 Lease financing receivables 214,636 — 12,505 227,141 Total loans and leases $ 3,668,460 $ 201,817 $ 470,258 $ 4,340,535 Acquired impaired loans —The unpaid principal balance and carrying amount of all acquired impaired loans are summarized below. The balances do not include an allowance for loan and lease losses of $4.3 million and $ 6.5 million, at September 30, 2021 and December 31, 2020, respectively. September 30, 2021 December 31, 2020 Unpaid Carrying Unpaid Carrying Commercial real estate $ 126,738 $ 84,821 $ 154,233 $ 108,484 Residential real estate 108,560 61,893 126,086 78,840 Construction, land development, and other land 9,301 1,746 12,677 4,113 Commercial and industrial 12,115 6,651 15,925 10,178 Installment and other 866 169 917 202 Total acquired impaired loans $ 257,580 $ 155,280 $ 309,838 $ 201,817 The following table summarizes the changes in accretable yield for acquired impaired loans for the three and nine months ended September 30, 2021 and 2020: Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 Beginning balance $ 24,474 $ 31,868 $ 27,696 $ 40,009 Accretion to interest income ( 3,080 ) ( 5,763 ) ( 9,896 ) ( 15,420 ) Reclassification from nonaccretable difference, net 1,217 5,727 4,811 7,243 Ending balance $ 22,611 $ 31,832 $ 22,611 $ 31,832 Acquired non-impaired loans and leases — The unpaid principal balance and carrying value for acquired non-impaired loans and leases at September 30, 2021 and December 31, 2020 were as follows: September 30, 2021 December 31, 2020 Unpaid Carrying Unpaid Carrying Commercial real estate $ 240,271 $ 235,103 $ 302,091 $ 295,599 Residential real estate 58,858 58,283 80,104 79,211 Construction, land development, and other land 271 206 278 212 Commercial and industrial 51,468 49,678 84,608 82,195 Installment and other 286 275 553 536 Lease financing receivables 7,638 7,607 13,978 12,505 Total acquired non-impaired loans and leases $ 358,792 $ 351,152 $ 481,612 $ 470,258 |
Allowance for Loan and Lease Lo
Allowance for Loan and Lease Losses and Reserve for Unfunded Commitments | 9 Months Ended |
Sep. 30, 2021 | |
Receivables [Abstract] | |
Allowance for Loan and Leases and Reserve for Unfunded Commitments | Note 5—Allowance for Loan and Lease Losses and Reserve for Unfunded Commitments Loans and leases considered for inclusion in the allowance for loan and lease losses include acquired non-impaired loans and leases, those acquired impaired loans with credit deterioration after acquisition, and originated loans and leases. Although all acquired loans and leases are included in the following table, only those with credit deterioration subsequent to acquisition date are included in the allowance for loan and lease losses. The following tables summarize the balance and activity within the allowance for loan and lease losses, the components of the allowance for loan and lease losses in terms of loans and leases individually and collectively evaluated for impairment, and corresponding loan and lease balances by type for the three and nine months ended September 30, 2021 and 2020 are as follows: September 30, 2021 Commercial Residential Construction, Commercial Paycheck Installment Lease Total Allowance for loan and Three months ended Beginning balance $ 19,541 $ 1,364 $ 619 $ 38,284 $ — $ 9 $ 1,902 $ 61,719 Provision/(recapture) 1,108 ( 225 ) ( 61 ) ( 1,218 ) — ( 2 ) 750 352 Charge-offs ( 564 ) ( 65 ) — ( 1,456 ) — — ( 399 ) ( 2,484 ) Recoveries 287 2 — 380 — — 342 1,011 Ending balance $ 20,372 $ 1,076 $ 558 $ 35,990 $ — $ 7 $ 2,595 $ 60,598 Nine months ended Beginning balance $ 19,584 $ 2,400 $ 1,352 $ 41,183 $ — $ 15 $ 1,813 $ 66,347 Provision/(recapture) 2,891 ( 1,257 ) ( 468 ) 226 — ( 8 ) 1,366 2,750 Charge-offs ( 2,644 ) ( 76 ) ( 326 ) ( 6,172 ) — — ( 1,148 ) ( 10,366 ) Recoveries 541 9 — 753 — — 564 1,867 Ending balance $ 20,372 $ 1,076 $ 558 $ 35,990 $ — $ 7 $ 2,595 $ 60,598 Ending balance: Individually evaluated for $ 8,420 $ — $ — $ 16,142 $ — $ — $ — $ 24,562 Collectively evaluated for 9,314 723 550 18,572 — 7 2,595 31,761 Loans acquired with 2,638 353 8 1,276 — — — 4,275 Total allowance for loan $ 20,372 $ 1,076 $ 558 $ 35,990 $ — $ 7 $ 2,595 $ 60,598 September 30, 2021 Commercial Residential Construction, Commercial Paycheck Installment Lease Total Loans and leases ending balance: Individually evaluated for $ 45,563 $ 3,946 $ — $ 37,689 $ — $ — $ — $ 87,198 Collectively evaluated for 1,487,994 441,915 336,666 1,492,065 268,081 1,273 338,756 4,366,750 Loans acquired with 84,821 61,893 1,746 6,651 — 169 — 155,280 Total loans and leases $ 1,618,378 $ 507,754 $ 338,412 $ 1,536,405 $ 268,081 $ 1,442 $ 338,756 $ 4,609,228 September 30, 2020 Commercial Residential Construction, Commercial Paycheck Installment Lease Total Allowance for loan and lease losses Three months ended Beginning balance $ 14,110 $ 3,741 $ 1,491 $ 30,108 $ — $ 36 $ 1,814 $ 51,300 Provision 6,421 291 1,029 7,603 — 1 395 15,740 Charge-offs ( 1,566 ) ( 250 ) ( 701 ) ( 3,254 ) — — ( 374 ) ( 6,145 ) Recoveries 19 8 53 83 — — 200 363 Ending balance $ 18,984 $ 3,790 $ 1,872 $ 34,540 $ — $ 37 $ 2,035 $ 61,258 Nine months ended Beginning balance $ 7,965 $ 1,990 $ 610 $ 19,377 $ — $ 50 $ 1,944 $ 31,936 Provision/(recapture) 14,149 2,031 1,910 26,844 — ( 13 ) 792 45,713 Charge-offs ( 3,206 ) ( 259 ) ( 701 ) ( 12,057 ) — — ( 1,392 ) ( 17,615 ) Recoveries 76 28 53 376 — — 691 1,224 Ending balance $ 18,984 $ 3,790 $ 1,872 $ 34,540 $ — $ 37 $ 2,035 $ 61,258 Ending balance: Individually evaluated for $ 4,516 $ 77 $ — $ 10,189 $ — $ — $ — $ 14,782 Collectively evaluated for 11,825 3,413 1,685 22,450 — 37 2,035 41,445 Loans acquired with 2,643 300 187 1,901 — — — 5,031 Total allowance for loan and $ 18,984 $ 3,790 $ 1,872 $ 34,540 $ — $ 37 $ 2,035 $ 61,258 September 30, 2020 Commercial Residential Construction, Commercial Paycheck Installment Lease Total Loans and leases ending balance: Individually evaluated for $ 39,001 $ 1,636 $ — $ 37,253 $ — $ — $ — $ 77,890 Collectively evaluated for 1,191,740 547,563 234,230 1,281,067 622,191 2,929 200,089 4,079,809 Loans acquired with 117,114 84,197 4,804 10,489 — 214 — 216,818 Total loans and leases $ 1,347,855 $ 633,396 $ 239,034 $ 1,328,809 $ 622,191 $ 3,143 $ 200,089 $ 4,374,517 The Company recaptured $ 1.1 million and $ 5.7 million of the allowance for loan and lease losses for the three and nine months ended September 30, 2021 , respectively, and increased the allowance by $ 10.0 million and $ 29.3 million for the three and nine months ended September 30, 2020 , respectively. For acquired impaired loans, the Company increased the allowance for loan and lease losses by $ 405,000 and recaptured $ 2.2 million of allowance for the three and nine months ended September 30, 2021 , respectively. The Company increased the allowance for loan and lease losses by $ 295,000 and $ 2.3 million for the three and nine months ended September 30, 2020, respectively for acquired impaired loans. For loans individually evaluated for impairment, the Company recaptured $ 1.0 million of the allowance for loan and lease losses and increased the allowance by $ 602,000 for the three and nine months ended September 30, 2021 , respectively. The Company increased the allowance on loans individually evaluated for impairment by $ 768,000 and $ 4.1 million for the three and nine months ended September 30, 2020 , respectively. For loans collectively evaluated for impairment, the Company decreased the allowance for loan and lease losses by $ 498,000 and $ 4.2 million for the three and nine months ended September 30, 2021 , and increased the allowance for loan and lease losses by $ 8.9 million and $ 23.0 million for the three and nine months ended September 30, 2020, respectively. An allowance for loan and lease loss allocation has not been made for Paycheck Protection Program (“PPP”) loans as these loans are fully guaranteed by the Small Business Association ("SBA"). On a quarterly basis, the Company assesses the collectability of its government guarantee loan and lease portfolio using historical loss experience in its small business lending unit. The following tables summarize the recorded investment, unpaid principal balance, and related allowance for loans and leases considered impaired as of September 30, 2021 and December 31, 2020, which exclude acquired impaired loans. For purposes of these tables, the unpaid principal balance represents the outstanding contractual balance. Impaired loans include loans that are individually evaluated for impairment as well as troubled debt restructurings for all loan categories. The sum of non-accrual loans and loans past due 90 days still on accrual will differ from the total impaired loan amount. September 30, 2021 Recorded Unpaid Related With no related allowance recorded Commercial real estate $ 20,432 $ 25,512 $ — Residential real estate 3,850 3,901 — Commercial and industrial 14,212 15,999 — With an allowance recorded Commercial real estate 25,131 26,569 8,420 Residential real estate 96 152 — Commercial and industrial 23,477 25,614 16,142 Total impaired loans $ 87,198 $ 97,747 $ 24,562 December 31, 2020 Recorded Unpaid Related With no related allowance recorded Commercial real estate $ 32,473 $ 34,792 $ — Residential real estate 1,558 1,644 — Commercial and industrial 17,944 19,917 — With an allowance recorded Commercial real estate 13,696 14,919 5,034 Residential real estate 272 274 78 Commercial and industrial 29,412 32,018 18,848 Total impaired loans $ 95,355 $ 103,564 $ 23,960 The following tables summarize the average recorded investment and interest income recognized for loans and leases considered impaired, which excludes acquired impaired loans, for the nine months ended: September 30, 2021 Average Interest With no related allowance recorded Commercial real estate $ 28,480 $ 920 Residential real estate 2,788 109 Commercial and industrial 16,668 481 With an allowance recorded Commercial real estate 27,620 1,185 Residential real estate 207 2 Commercial and industrial 28,785 1,666 Total impaired loans $ 104,548 $ 4,363 September 30, 2020 Average Interest With no related allowance recorded Commercial real estate $ 22,511 $ 927 Residential real estate 1,615 26 Construction, land development, and other land 2,984 220 Commercial and industrial 16,991 493 With an allowance recorded Commercial real estate 13,329 526 Residential real estate 460 21 Commercial and industrial 21,352 1,078 Total impaired loans $ 79,242 $ 3,291 The following tables summarize the risk rating categories of the loans and leases considered for inclusion in the allowance for loan and lease losses calculation, excluding acquired impaired loans, as of September 30, 2021 and December 31, 2020: September 30, 2021 Commercial Residential Construction, Commercial Paycheck Installment Lease Total Pass $ 1,297,981 $ 422,843 $ 291,496 $ 1,261,335 $ 268,081 $ 1,190 $ 335,475 $ 3,878,401 Watch 143,047 16,862 37,795 196,288 — 83 264 394,339 Special Mention 48,605 3,036 7,375 30,841 — — 1,934 91,791 Substandard 43,924 3,120 — 41,290 — — 786 89,120 Doubtful — — — — — — 297 297 Loss — — — — — — — — Total $ 1,533,557 $ 445,861 $ 336,666 $ 1,529,754 $ 268,081 $ 1,273 $ 338,756 $ 4,453,948 December 31, 2020 Commercial Residential Construction, Commercial Paycheck Installment Lease Total Pass $ 1,064,623 $ 463,103 $ 180,458 $ 1,027,399 $ 517,815 $ 1,706 $ 222,818 $ 3,477,922 Watch 134,381 22,086 46,162 225,930 — 96 47 428,702 Special Mention 60,022 3,795 — 56,784 — — 2,721 123,322 Substandard 54,160 4,447 — 48,609 — 1 955 108,172 Doubtful — — — — — — 600 600 Loss — — — — — — — — Total $ 1,313,186 $ 493,431 $ 226,620 $ 1,358,722 $ 517,815 $ 1,803 $ 227,141 $ 4,138,718 The following tables summarize contractual delinquency information for acquired non-impaired and originated loans and leases by category at September 30, 2021 and December 31, 2020: September 30, 2021 30-59 Days 60-89 Greater Non- Total Current Total Commercial real estate $ 330 $ 1,426 $ — $ 17,082 $ 18,838 $ 1,514,719 $ 1,533,557 Residential real estate 1,087 — — 2,127 3,214 442,647 445,861 Construction, land development, 2,035 — — — 2,035 334,631 336,666 Commercial and industrial 1,653 594 — 14,272 16,519 1,513,235 1,529,754 Paycheck Protection Program — — — — — 268,081 268,081 Installment and other 39 — — — 39 1,234 1,273 Lease financing receivables 973 98 — 984 2,055 336,701 338,756 Total $ 6,117 $ 2,118 $ — $ 34,465 $ 42,700 $ 4,411,248 $ 4,453,948 December 31, 2020 30-59 60-89 Greater Non- Total Current Total Commercial real estate $ 1,544 $ 4,194 $ — $ 15,969 $ 21,707 $ 1,291,479 $ 1,313,186 Residential real estate 1,686 — — 1,929 3,615 489,816 493,431 Construction, land development, — — — — — 226,620 226,620 Commercial and industrial 4,521 1,290 — 21,936 27,747 1,330,975 1,358,722 Paycheck Protection Program 517,815 517,815 Installment and other 6 — — 1 7 1,796 1,803 Lease financing receivables 996 376 — 1,268 2,640 224,501 227,141 Total $ 8,753 $ 5,860 $ — $ 41,103 $ 55,716 $ 4,083,002 $ 4,138,718 Trouble debt restructurings (“TDRs”) are granted due to borrower financial difficulty and provide for a modification of loan repayment terms. TDRs are treated in the same manner as impaired loans for purposes of calculating the allowance for loan and lease losses. The tables below present TDRs by loan category as of September 30, 2021 and December 31, 2020: September 30, 2021 Number Pre- Post- Charge-offs Specific Accruing: Commercial real estate 7 $ 2,130 $ 2,130 $ — $ 209 Commercial and industrial 1 63 63 — 63 Residential real estate 2 173 173 — — Total accruing 10 2,366 2,366 — 272 Non-accruing: Commercial real estate 3 856 740 116 311 Commercial and industrial 3 1,730 1,107 623 508 Total non-accruing 6 2,586 1,847 739 819 Total troubled debt restructurings 16 $ 4,952 $ 4,213 $ 739 $ 1,091 December 31, 2020 Number Pre- Post- Charge-offs Specific Accruing: Commercial real estate 8 $ 2,187 $ 2,187 $ — $ 104 Commercial and industrial 1 78 78 — 78 Residential real estate 3 230 230 — — Total accruing 12 2,495 2,495 — 182 Non-accruing: Commercial real estate 4 1,609 1,362 247 102 Commercial and industrial 14 4,420 4,288 132 3,157 Total non-accruing 18 6,029 5,650 379 3,259 Total troubled debt restructurings 30 $ 8,524 $ 8,145 $ 379 $ 3,441 In addition, there was no commitment outstanding on troubled debt restructurings at September 30, 2021 or December 31, 2020. Loans modified as troubled debt restructurings that occurred during the three and nine months ended September 30, 2021 and 2020 were: Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 Accruing: Beginning balance $ 2,395 $ 3,151 $ 2,495 $ 1,771 Additions — 604 281 604 Net payments ( 29 ) ( 1,462 ) ( 410 ) ( 1,538 ) Net transfers from non-accrual — — — 1,456 Ending balance 2,366 2,293 2,366 2,293 Non-accruing: Beginning balance 4,441 7,449 5,650 8,800 Additions — — 673 5,633 Net payments ( 2,584 ) ( 302 ) ( 3,568 ) ( 1,688 ) Charge-offs ( 10 ) ( 852 ) ( 908 ) ( 4,994 ) Net transfers to accrual — — — ( 1,456 ) Ending balance 1,847 6,295 1,847 6,295 Total troubled debt restructurings $ 4,213 $ 8,588 $ 4,213 $ 8,588 There were no troubled debt restructurings that subsequently defaulted within twelve months of the restructure date during the three and nine months ended September 30, 2021 or 2020. At September 30, 2021 and December 31, 2020 , the reserve for unfunded commitments was $ 1.5 million and $ 1.9 million, respectively. During the three and nine months ended September 30, 2021 , there was a recapture for unfunded commitments of $ 79,000 and $ 363,000 , respectively. During the three and nine months ended September 30, 2020 , the provision for unfunded commitments was $ 519,000 and $ 1.2 million, respectively. There were no charge-offs or recoveries related to the reserve for unfunded commitments during the periods. |
Servicing Assets
Servicing Assets | 9 Months Ended |
Sep. 30, 2021 | |
Transfers And Servicing [Abstract] | |
Servicing Assets | Note 6—Servicing Assets Activity for servicing assets and the related changes in fair value for the three and nine months ended September 30, 2021 and 2020 was as follows: Three Months Ended Nine Months Ended 2021 2020 2021 2020 Beginning balance $ 24,683 $ 18,351 $ 22,042 $ 19,471 Additions, net 1,564 1,794 5,703 4,449 Changes in fair value ( 2,650 ) 1,122 ( 4,148 ) ( 2,653 ) Ending balance $ 23,597 $ 21,267 $ 23,597 $ 21,267 Loans serviced for others are not included in the Consolidated Statements of Financial Condition. The unpaid principal balances of these loans serviced for others as of September 30, 2021 and December 31, 2020 were as follows: September 30, December 31, 2021 2020 Loan portfolios serviced for: SBA guaranteed loans $ 1,471,367 $ 1,395,713 USDA guaranteed loans 143,847 135,543 Total $ 1,615,214 $ 1,531,256 Loan servicing revenue totaled $ 3.3 million and $ 2.9 million for each of the three months ended September 30, 2021 and 2020 , respectively. Loan servicing revenue totaled $ 9.3 million and $ 8.7 million for each of the nine months ended September 30, 2021 and 2020 , respectively. Loan servicing asset revaluation, which represents the changes in fair value of servicing assets, resulted in a downward valuation adjustment of $ 2.7 million and an upward valuation adjustment of $ 1.1 million for three months ended September 30, 2021 and 2020 , respectively. Loan servicing asset revaluations resulted in downward valuation adjustments of $ 4.1 million and $ 2.7 million for the nine months ended September 30, 2021 and 2020, respectively. The fair value of servicing rights is highly sensitive to changes in underlying assumptions. Changes in secondary market premiums and prepayment speed assumptions have the most significant impact on the fair value of servicing rights. Generally, as interest rates rise on variable rate loans, loan prepayments increase due to an increase in refinance activity, which may result in a decrease in the fair value of servicing assets. Measurement of fair value is limited to the conditions existing and the assumptions used as of a particular point in time, and those assumptions may change over time. Refer to Note 15—Fair Value Measurement for further details. |
Other Real Estate Owned
Other Real Estate Owned | 9 Months Ended |
Sep. 30, 2021 | |
Real Estate [Abstract] | |
Other Real Estate Owned | Note 7—Other Real Estate Owned The following table presents the change in other real estate owned (“OREO”) for the three and nine months ended September 30, 2021 and 2020: Three Months Ended Nine Months Ended 2021 2020 2021 2020 Beginning balance $ 4,417 $ 8,652 $ 6,350 $ 9,896 Net additions to OREO — 41 436 127 Proceeds from sales of OREO ( 1,498 ) ( 224 ) ( 2,998 ) ( 874 ) Gains (losses) on sales of OREO 114 ( 41 ) 133 44 Valuation adjustments — ( 278 ) ( 888 ) ( 1,043 ) Ending balance $ 3,033 $ 8,150 $ 3,033 $ 8,150 At September 30, 2021 and December 31, 2020 , the balance of real estate owned included no foreclosed residential real estate properties recorded as a result of obtaining physical possession of the property. At September 30, 2021 and December 31, 2020 , the recorded investment of consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings were in process was $ 3.1 million and $ 3.3 million, respectively. There were no internally financed sales of OREO for the three and nine months ended September 30, 2021 or 2020. |
Leases
Leases | 9 Months Ended |
Sep. 30, 2021 | |
Leases [Abstract] | |
Leases | Note 8—Leases The Company enters into leases in the normal course of business primarily for its banking facilities and branches. The Company’s operating leases have varying maturity dates through year end 2042 , some of which include renewal or termination options to extend the lease. In addition, the Company leases or subleases real estate to third parties. The Company includes lease extension and termination options in the lease term if, after considering relevant economic factors, it is reasonably certain the Company will exercise the option. In addition, the Company has elected to account for any non-lease components in its real estate leases as part of the associated lease component. The Company has also elected not to recognize leases with original lease terms of 12 months or less (short-term leases) on the Company’s balance sheet. Leases are classified at the lease commencement date. Lease expense for operating leases and short-term leases is recognized on a straight-line basis over the lease term. Right-of-use assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Right-of-use assets and lease liabilities are recognized at the lease commencement date based on the estimated present value of lease payments over the lease term. The following table summarizes the amount and balance sheet line item for our operating lease right-of-use asset and liability as of September 30, 2021: Balance Sheet Line Item September 30, 2021 Operating lease right-of-use asset Accrued interest receivable and other assets $ 11,580 Operating lease liability Accrued interest payable and other liabilities 13,744 The Company uses its incremental borrowing rate at lease commencement to calculate the present value of lease payments when the rate implicit in a lease is not known. The Company’s incremental borrowing rate is based on the FHLB regular advance rate, adjusted for the lease term and other factors. At September 30, 2021 , the weighted-average discount rate of operating leases was 0.85 % and the weighted average remaining life of operating leases was 6.0 years. The future minimum lease payments for operating leases, subsequent to September 30, 2021, as recorded on the balance sheet, are summarized as follows: Operating Lease 2021 $ 1,515 2022 3,618 2023 2,412 2024 2,194 2025 1,505 Thereafter 3,108 Total undiscounted lease payments 14,352 Less: imputed interest ( 608 ) Net lease liabilities $ 13,744 The Company’s rental expenses for the three months ended September 30, 2021 and 2020 were $ 1.2 million and $ 1.6 million, respectively. The Company’s rental expenses for the nine months ended September 30, 2021 and 2020 were $ 4.0 million and $ 4.9 million, respectively. For the three months ended September 30, 2021 and 2020 , the Company received $ 166,000 and $ 184,000 , respectively, in sublease income. For the nine months ended September 30, 2021 and 2020 , the Company received $ 479,000 and $ 549,000 , respectively, in sublease income. The total amount of minimum rentals to be received in the future on these subleases is approximately $ 1.5 million, and the leases have contractual lives extending through 2026 . In addition to the above required lease payments, the Company has contractual obligations related primarily to information technology contracts and other maintenance contracts. |
Goodwill, Core Deposit Intangib
Goodwill, Core Deposit Intangible and Other Intangible Assets | 9 Months Ended |
Sep. 30, 2021 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Goodwill, Core Deposit Intangible and Other Intangible Assets | Note 9—Goodwill, Core Deposit Intangible and Other Intangible Assets The following tables summarize the changes in the Company’s goodwill, core deposit intangible assets, and customer relationship intangible assets for the three and nine months ended September 30, 2021 and 2020: For the Three Months Ended September 30, 2021 2020 Goodwill Core Deposit Customer Relationship Goodwill Core Deposit Customer Relationship Beginning balance $ 148,353 $ 18,346 $ 2,335 $ 148,353 $ 25,459 $ 2,658 Amortization — ( 1,672 ) ( 66 ) — ( 1,825 ) ( 122 ) Ending balance $ 148,353 $ 16,674 $ 2,269 $ 148,353 $ 23,634 $ 2,536 Accumulated amortization N/A $ 38,792 $ 947 N/A $ 31,832 $ 680 Weighted average remaining N/A 5.0 Years 8.5 Years N/A 5.8 Years 9.7 Years Nine Months Ended September 30, 2021 2020 Goodwill Core Deposit Customer Relationship Goodwill Core Deposit Customer Relationship Beginning balance $ 148,353 $ 21,809 $ 2,469 $ 148,353 $ 29,111 $ 2,791 Amortization — ( 5,135 ) ( 200 ) — ( 5,477 ) ( 255 ) Ending balance $ 148,353 $ 16,674 $ 2,269 $ 148,353 $ 23,634 $ 2,536 Accumulated amortization N/A $ 38,792 $ 947 N/A $ 31,832 $ 680 Weighted average remaining N/A 5.0 Years 8.5 Years N/A 5.8 Years 9.7 Years The following table presents the estimated amortization expense for core deposit intangible and customer relationship intangible assets remaining at September 30, 2021: Estimated 2021 $ 1,737 2022 6,386 2023 4,336 2024 2,286 2025 1,721 Thereafter 2,477 Total $ 18,943 |
Income Taxes
Income Taxes | 9 Months Ended |
Sep. 30, 2021 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Note 10—Income Taxes The Company uses an estimated annual effective tax rate method in computing its interim tax provision. This effective tax rate is based on forecasted annual pre-tax income, permanent tax differences and statutory tax rates. The effective tax rate for the nine months ended September 30, 2021 and 2020 was 25.3 % and 28.5 %, respectively. The Company recorded discrete income tax benefit of $ 166,000 and a provision of $ 231,000 related to the exercise of stock options and vesting of restricted shares for the nine months ended September 30, 2021 and 2020, respectively. Net deferred tax assets increased to $ 45.2 million at September 30, 2021 compared to $ 40.2 million at December 31, 2020 primarily a result of unrealized losses on available-for-sale securities. During the second quarter 2021, Illinois Senate Bill 2017 was passed which created a temporary limitation on Net Loss Deduction ("NLD") usage. For tax years 2021, 2022, and 2023, C Corporations are limited to applying a maximum of $ 100,000 of NLD to taxable income. NLDs that are limited during these years have an extended expiration date for the years in which they are limited. The extended expiration of the Company’s NLD carryforwards are from December 31, 2026 to December 31, 2033 . |
Deposits
Deposits | 9 Months Ended |
Sep. 30, 2021 | |
Deposits [Abstract] | |
Deposits | Note 11—Deposits The composition of deposits was as follows as of September 30, 2021 and December 31, 2020: September 30, December 31, 2021 2020 Non-interest-bearing demand deposits $ 2,117,749 $ 1,762,676 Interest-bearing checking accounts 652,824 494,424 Money market demand accounts 1,057,419 1,142,709 Other savings 627,294 564,700 Time deposits (below $250,000) 553,364 600,810 Time deposits ($250,000 and above) 149,628 186,712 Total deposits $ 5,158,278 $ 4,752,031 There were no brokered deposits included in Time deposits of $ 250,000 or more at September 30, 2021 , and $ 35.0 million at December 31, 2020 , respectively. |
Other Borrowings
Other Borrowings | 9 Months Ended |
Sep. 30, 2021 | |
Debt Disclosure [Abstract] | |
Other Borrowings | Note 12—Other Borrowings The following is a summary of the Company’s other borrowings as of September 30, 2021 and December 31, 2020: September 30, December 31, 2021 2020 Paycheck Protection Program Liquidity Facility $ 156,404 $ 371,907 Federal Home Loan Bank advances 355,000 234,000 Securities sold under agreements to repurchase 27,715 41,994 Line of credit — — Total $ 539,119 $ 647,901 On April 21, 2020, the Bank entered into a Letter Agreement with the Federal Reserve Bank of Chicago that allows the Bank to access the Paycheck Protection Program Liquidity Facility (the “PPPLF”). Under the terms of the PPPLF, the Bank pledges loans originated under the PPP to the Federal Reserve Bank of Chicago as collateral for available advances under the PPPLF. Advances under the PPPLF are in an amount equal to the aggregate principal amount of PPP loans pledged by Byline Bank, carry an interest rate of 35 basis points and mature on the maturity date of the PPP loans pledged as collateral for the advance. As of September 30, 2021 , the PPPLF balance was $ 156.4 million with an interest rate of 0.35 % with various maturity dates from April 2022 to February 2026 . Byline Bank has the capacity to borrow funds from the discount window of the Federal Reserve System. As of September 30, 2021 and December 31, 2020, there were no outstanding advances under the Federal Reserve Bank discount window line. At September 30, 2021 , fixed-rate Federal Home Loan Bank (“FHLB”) advances totaled $ 355.0 million, with interest rates ranging from 0.00 % to 0.22 % and maturities ranging from November 2021 to May 2022 . Advances from the FHLB are collateralized by residential real estate loans, commercial real estate loans, and securities. The Bank’s maximum borrowing capacity is limited to 35 % of total assets. Required investment in FHLB stock is $ 4.50 for every $100 in advances. Securities sold under agreements to repurchase represent a demand deposit product offered to customers that sweep balances in excess of the FDIC insurance limit into overnight repurchase agreements. The Company pledges securities as collateral for the repurchase agreements. Refer to Note 3—Securities for additional discussion. On October 13, 2016, the Company entered into a $ 30.0 million revolving credit agreement with a correspondent bank. Through subsequent amendments, the revolving credit agreement was reduced to $ 15.0 million and the maturity of the credit facility was extended to October 9, 2020 . The amended revolving line of credit bears interest at either the London Interbank Offered Rate (“LIBOR”) plus 195 basis points or the Prime Rate minus 75 basis points, not to be less than 2.00%, based on the Company’s election, which is required to be communicated at least three business days prior to the commencement of an interest period. If the Company fails to provide timely notification, the interest rate will be Prime Rate minus 75 basis points. At September 30, 2021 and December 31, 2020 , the line of credit had no outstanding balance. On October 8, 2021, the Company extended the maturity of the credit facility to October 7, 2022 . The following table presents short-term credit lines available for use as of September 30, 2021 and December 31, 2020: September 30, December 31, 2021 2020 Federal Home Loan Bank line $ 1,910,295 $ 2,016,212 Federal Reserve Bank of Chicago discount window line 622,306 874,677 Available federal funds lines 115,000 115,000 The Company hedges interest rates on borrowed funds using interest rate swaps through which the Company receives variable amounts and pays fixed amounts. Refer to Note 16—Derivative Instruments and Hedging Activities for additional discussion. |
Subordinated Notes and Junior S
Subordinated Notes and Junior Subordinated Debentures | 9 Months Ended |
Sep. 30, 2021 | |
Debt Disclosure [Abstract] | |
Subordinated Notes and Junior Subordinated Debentures | Note 13—Subordinated Notes and Junior Subordinated Debentures In 2020, the Company issued $ 75.0 million in fixed-to-floating subordinated notes that mature on July 1, 2030 . The subordinated notes bear a fixed interest rate of 6.00 % until July 1, 2025 and a floating interest rate equal to a benchmark rate, which is expected to be the three-month Secured Overnight Financing Rate, plus 588 basis points thereafter until maturity. The transaction resulted in debt issuance costs of approximately $ 1.7 million that will be amortized over 10 years . As of September 30, 2021 , the net liability outstanding of the subordinated notes was $ 73.5 million. The Company may, at its option, redeem the notes, in whole or in part, on a semi-annual basis beginning on July 1, 2025, subject to obtaining the prior approval of the Federal Reserve to the extent such approval is then required. The subordinated notes qualify as Tier 2 capital for regulatory capital purposes. At September 30, 2021 and December 31, 2020, the Company’s junior subordinated debentures by issuance were as follows: Name of Trust Aggregate Principal Amount September 30, 2021 Aggregate Stated Contractual Rate at September 30, 2021 Interest Rate Spread Metropolitan Statutory Trust 1 $ 35,000 $ 35,000 March 17, 2034 2.91 % Three-month 2.79 % First Evanston Bancorp Trust I 10,000 10,000 March 15, 2035 1.90 % Three-month 1.78 % Total liability, at par 45,000 45,000 Discount ( 8,204 ) ( 8,549 ) Total liability, at carrying value $ 36,796 $ 36,451 In 2004, the Company’s predecessor, Metropolitan Bank Group, Inc., issued $ 35.0 million floating rate junior subordinated debentures to Metropolitan Statutory Trust 1, which was formed for the issuance of trust preferred securities. The debentures bear interest at three-month LIBOR plus 2.79 % ( 2.91 % and 3.02 % at September 30, 2021 and December 31, 2020 , respectively). Interest is paid on a quarterly basis. The Company has the right to redeem the debentures, in whole or in part, on any interest payment date on or after March 2009. Accrued interest payable was $ 41,000 and $ 45,000 as of September 30, 2021 and December 31, 2020, respectively. As part of the First Evanston acquisition, the Company assumed the obligations to First Evanston Bancorp Trust I of $ 10.0 million in principal amount, which was formed for the issuance of trust preferred securities. Beginning on March 15, 2010, the interest rate reset to the three-month LIBOR plus 1.78 % ( 1.90 % and 2.00 % at September 30, 2021 and December 31, 2020 , respectively), which is in effect until the debentures mature in 2035. Interest is paid on a quarterly basis. The Company has the right to redeem the debentures, in whole or in part, on any interest payment date on or after March 2010. The Company has the option to defer interest payments on the debentures from time to time for a period not to exceed five consecutive years. Accrued interest payable was $ 8,000 and $ 9,000 as of September 30, 2021 and December 31, 2020, respectively. The Trusts are not consolidated with the Company. Accordingly, the Company reports the subordinated debentures held by the Trusts as liabilities. The Company owns all of the common securities of each trust. The junior subordinated debentures qualify, and are treated as, Tier 1 regulatory capital of the Company subject to regulatory limitations. The trust preferred securities issued by each trust rank equally with the common securities in right of payment, except that if an event of default under the indenture governing the notes has occurred and is continuing, the preferred securities will rank senior to the common securities in right of payment. |
Commitments and Contingent Liab
Commitments and Contingent Liabilities | 9 Months Ended |
Sep. 30, 2021 | |
Commitments And Contingencies Disclosure [Abstract] | |
Commitments and Contingent Liabilities | Note 14—Commitments and Contingent Liabilities Legal contingencies —In the ordinary course of business, the Company and Bank have various outstanding commitments and contingent liabilities that are not recognized in the accompanying consolidated financial statements. In addition, the Company may be a defendant in certain claims and legal actions arising in the ordinary course of business. In the opinion of management, after consultation with legal counsel, the ultimate disposition of these matters is currently not expected to have a material adverse effect on the Company’s Consolidated Financial Statements. Operating lease commitments —Refer to Note 8—Lease for discussion of operating lease commitments. Commitments to extend credit —The Company is party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit and standby letters of credit. Those instruments involve, to varying degrees, elements of credit and interest rate risk in excess of the amount recognized in the Consolidated Statements of Financial Condition. The contractual or notional amounts of those instruments reflect the extent of involvement the Company has in particular classes of financial instruments. The Company’s exposure to credit loss in the event of non-performance by the other party to the financial instrument for commitments to extend credit and letters of credit is represented by the contractual or notional amount of those instruments. The Company uses the same credit policies in making commitments and conditional obligations as it does for funded instruments. The Company does not anticipate any material losses as a result of the commitments and letters of credit. The following table summarizes the contract or notional amount of outstanding loan and lease commitments at September 30, 2021 and December 31, 2020: September 30, 2021 December 31, 2020 Fixed Rate Variable Rate Total Fixed Rate Variable Rate Total Commitments to extend credit $ 173,848 $ 1,520,986 $ 1,694,834 $ 106,183 $ 1,261,872 $ 1,368,055 Letters of credit 653 58,479 59,132 652 58,120 58,772 Total $ 174,501 $ 1,579,465 $ 1,753,966 $ 106,835 $ 1,319,992 $ 1,426,827 Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since many of the commitments are expected to expire without being drawn upon, the total commitment amount does not necessarily represent future cash requirements. The Company evaluates each customer’s creditworthiness on a case-by-case basis. The amount of collateral obtained, if deemed necessary by the Company upon extension of credit, is based on management’s credit evaluation of the counterparty. Collateral is primarily obtained in the form of commercial and residential real estate (including income producing commercial properties). Letters of credit are conditional commitments issued by the Company to guarantee to a third-party the performance of a customer. Those guarantees are primarily issued to support public and private borrowing arrangements, bond financing and similar transactions. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loan facilities to customers. Commitments to make loans are generally made for periods of 90 days or less. The fixed rate loan commitments have interest rates ranging from 1.25 % to 18.00 % and maturities up to 2050 . Variable rate loan commitments have interest rates ranging from 1.25 % to 8.25 % and maturities up to 2044 . |
Fair Value Measurement
Fair Value Measurement | 9 Months Ended |
Sep. 30, 2021 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurement | Note 15—Fair Value Measurement Fair value is the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. In addition, the Company has the ability to obtain fair values for markets that are not accessible. These types of inputs create the following fair value hierarchy: Level 1 —Quoted prices in active markets for identical assets or liabilities. Level 2 —Quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active and model-derived valuations whose inputs are observable or whose significant value drivers are observable. Level 3 —Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the asset or liability. Unobservable inputs are used to measure fair value to the extent that observable inputs are not available. The Company’s own data used to develop unobservable inputs may be adjusted for market considerations when reasonably available. The categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to assets and liabilities. The Company used the following methods and significant assumptions to estimate fair value for certain assets measured and carried at fair value on a recurring basis: Securities available-for-sale —The Company obtains fair value measurements from an independent pricing service. Management reviews the procedures used by the third party, including significant inputs used in the fair value calculations. The fair value measurements consider observable data that may include dealer quotes, market spreads, cash flows, the U.S. Treasury yield curve, live trading levels, trade execution data, market consensus prepayment speeds, credit information and the bond’s terms and conditions, among other things. When market quotes are not readily accessible or available, alternative approaches are utilized, such as matrix or model pricing. The Company’s methodology for pricing non-rated bonds focuses on three distinct inputs: equivalent rating, yield and other pricing terms. To determine the rating for a given non-rated municipal bond, the Company references a publicly issued bond by the same issuer if available as well as other additional key metrics to support the credit worthiness. Typically, pricing for these types of bonds would require a higher yield than a similar rated bond from the same issuer. A reduction in price is applied to the rating obtained from the comparable bond, as the Company believes if liquidated, a non-rated bond would be valued less than a similar bond with a verifiable rating. The reduction applied by the Company is one notch lower (i.e. a “AA” rating for a comparable bond would be reduced to “AA-” for the Company’s valuation). In 2021 and 2020, all of the ratings derived by the Company were “BBB” or better with and without comparable bond proxies. The fair value measurement of municipal bonds is sensitive to the rating input, as a higher rating typically results in an increased valuation. The remaining pricing inputs used in the bond valuation are observable. Based on the rating determined, the Company obtains a corresponding current market yield curve available to market participants. Other terms including coupon, maturity date, redemption price, number of coupon payments per year, and accrual method are obtained from the individual bond term sheets. Equity and other securities —The Company utilizes the same fair value measurement methodology for equity and other securities as detailed in the securities available-sale portfolio above. Servicing assets —Fair value is based on a loan-by-loan basis taking into consideration the original term to maturity, the current age of the loan and the remaining term to maturity. The valuation methodology utilized for the servicing assets begins with generating estimated future cash flows for each servicing asset, based on their unique characteristics and market-based assumptions for prepayment speeds and costs to service. The present value of the future cash flows are then calculated utilizing market-based discount rate assumptions. Derivative instruments —Interest rate derivatives are valued by a third party, using models that primarily use market observable inputs, such as yield curves, and are validated by comparison with valuations provided by the respective counterparties. Derivative financial instruments are included in other assets and other liabilities in the Consolidated Statements of Financial Condition. The following tables summarize the Company’s financial assets and liabilities that were measured at fair value on a recurring basis at September 30, 2021 and December 31, 2020: Fair Value Measurements Using September 30, 2021 Fair Value Level 1 Level 2 Level 3 Financial assets Securities available-for-sale U.S. Treasury Notes $ 8,578 $ 8,578 $ — $ — U.S. Government agencies 123,264 — 123,264 — Obligations of states, municipalities, and political 105,060 — 105,060 — Mortgage-backed securities; residential Agency 785,173 — 785,173 — Non-Agency 64,009 — 64,009 — Mortgage-backed securities; commercial Agency 237,409 — 237,409 — Corporate securities 66,827 — 66,827 — Asset-backed securities 37,285 — 37,285 — Equity and other securities, at fair value Mutual funds 4,424 4,424 — — Equity securities 5,875 — 5,189 686 Servicing assets 23,597 — — 23,597 Derivative assets 13,463 — 13,463 — Financial liabilities Derivative liabilities 12,348 — 12,348 — Fair Value Measurements Using December 31, 2020 Fair Value Level 1 Level 2 Level 3 Financial assets Securities available-for-sale U.S. Treasury Notes $ 23,812 $ 23,812 $ — $ — U.S. Government agencies 113,551 — 113,551 — Obligations of states, municipalities, and political 142,419 — 142,419 Mortgage-backed securities; residential Agency 778,391 — 778,391 — Non-Agency 32,981 — 32,981 — Mortgage-backed securities; commercial Agency 250,152 — 250,152 — Corporate securities 60,768 — 60,768 — Asset-backed securities 45,156 — 45,156 — Equity and other securities, at fair value Mutual funds 2,983 2,983 — — Equity securities 5,781 — 5,096 685 Servicing assets 22,042 — — 22,042 Derivative assets 17,149 — 17,149 — Financial liabilities Derivative liabilities 18,133 — 18,133 — The Company did no t have any transfers to or from Level 3 of the fair value hierarchy during the nine months ended September 30, 2021 and 2020. The following table presents additional information about financial assets measured at fair value on recurring basis for which the Company used significant unobservable inputs (Level 3): Nine Months Ended September 30, 2021 2020 2021 2020 Investment Securities Servicing Assets Balance, beginning of period $ 685 $ 700 $ 22,042 $ 19,471 Additions, net — — 5,703 4,449 Change in fair value 1 ( 16 ) ( 4,148 ) ( 2,653 ) Balance, end of period $ 686 $ 684 $ 23,597 $ 21,267 The following table presents additional information about the unobservable inputs used in the fair value measurements on recurring basis that were categorized within Level 3 of the fair value hierarchy as of September 30, 2021: Financial Instruments Valuation Technique Unobservable Inputs Range of Weighted Impact to Single issuer trust preferred Discounted cash flow Discount rate 3.1 % - 6.4 % 4.5 % Decrease Servicing assets Discounted cash flow Prepayment speeds 0.5 % - 31.8 % 14.3 % Decrease Discount rate ( 3.0 )% - 50.0 % 8.1 % Decrease Expected weighted 0.2 - 8.5 years 3.9 years Increase The Company used the following methods and significant assumptions to estimate fair value for certain assets measured and carried at fair value on a no n-recurring basis: Impaired loans (excluding acquired impaired loans) —Impaired loans, other than those existing on the date of a business acquisition, are primarily carried at the fair value of the underlying collateral, less estimated costs to sell, if the loan is collateral dependent. Valuations of impaired loans that are collateral dependent are supported by third party appraisals in accordance with the Bank’s credit policy. Other valuation methods include analysis of discounted cash flows, which measures the present value of expected future cash flows discounted at the loan’s effective interest rate. Impaired loans that are not collateral dependent are not material. Assets held for sale —Assets held for sale consist of former branch locations and real estate previously purchased for expansion. Assets are considered held for sale when management has approved to sell the assets following a branch closure or other events. The properties are being actively marketed and transferred to assets held for sale based on the lower of carrying value or its fair value, less estimated costs to sell. The Company records assets held for sale on the Consolidated Statements of Financial Condition within accrued interest receivable and other assets. Other real estate owned —Certain assets held within other real estate owned represent real estate or other collateral that has been adjusted to its estimated fair value, less cost to sell, as a result of transferring from the loan portfolio at the time of foreclosure or repossession and based on management’s periodic impairment evaluation. From time to time, non-recurring fair value adjustments to other real estate owned are recorded to reflect partial write-downs based on an observable market price or current appraised value of property. Adjustments to fair value based on such non-recurring transactions generally result from the application of lower-of-cost-or-market accounting or write-downs of individual assets due to impairment. The following tables summarize the Company’s assets that were measured at fair value on a non-recurring basis, excluding acquired impaired loans, as of September 30, 2021 and December 31, 2020: Fair Value Measurements Using September 30, 2021 Fair Value Level 1 Level 2 Level 3 Non-recurring Impaired loans (excluding acquired impaired loans) Commercial real estate $ 37,143 $ — $ — $ 37,143 Residential real estate 3,946 — — 3,946 Commercial and industrial 21,547 — — 21,547 Assets held for sale 10,982 — — 10,982 Other real estate owned 3,033 — — 3,033 Fair Value Measurements Using December 31, 2020 Fair Value Level 1 Level 2 Level 3 Non-recurring Impaired loans (excluding acquired impaired loans) Commercial real estate $ 41,135 $ — $ — $ 41,135 Residential real estate 1,752 — — 1,752 Commercial and industrial 28,508 — — 28,508 Assets held for sale 13,023 — — 13,023 Other real estate owned 6,350 — — 6,350 The following methods and assumptions were used by the Company in estimating fair values of other assets and liabilities for disclosure purposes: Cash and cash equivalents —For these short-term instruments, the carrying amount is a reasonable estimate of fair value. Securities held-to-maturity —The Company obtains fair value measurements from an independent pricing service. Management reviews the procedures used by the third party, including significant inputs used in the fair value calculations. The fair value measurements consider observable data that may include dealer quotes, market spreads, cash flows, the U.S. Treasury yield curve, live trading levels, trade execution data, market consensus prepayment speeds, credit information and the bond’s terms and conditions, among other things. When market quotes are not readily accessible or available, alternative approaches are utilized, such as matrix or model pricing. Restricted stock —The fair value has been determined to approximate cost. Loans held for sale— The fair value of loans held for sale are based on quoted market prices, where available, and determined by discounted estimated cash flows using interest rates approximating the Company’s current origination rates for similar loans adjusted to reflect the inherent credit risk. Loan and lease receivables, net —For certain variable rate loans that reprice frequently and with no significant changes in credit risk, fair value is estimated at carrying value. The fair value of other types of loans is estimated using an exit price notion. It is estimated by discounting future cash flows, using current rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities. Deposits —The fair value of demand deposits, savings accounts, and certain money market deposits is the amount payable on demand at the reporting date. The fair value of fixed-maturity certificates of deposit is estimated by discounting future cash flows, using rates currently offered for deposits of similar remaining maturities. Paycheck Protection Program Liquidity Facility —The carrying amount approximates fair value. Federal Home Loan Bank advances —The fair value of FHLB advances is estimated by discounting the agreements based on maturities using rates currently offered for FHLB advances of similar remaining maturities adjusted for prepayment penalties that would be incurred if the borrowings were paid off on the measurement date. Securities sold under agreements to repurchase —The carrying amount approximates fair value due to maturities of less than ninety days. Subordinated notes —The fair value is based on available market prices. Junior subordinated debentures —The fair value of junior subordinated debentures, in the form of trust preferred securities, is determined using rates currently available to the Company for debt with similar terms and remaining maturities. Accrued interest receivable and payable —The carrying amount approximates fair value. Commitments to extend credit and letters of credit —The fair values of these off-balance sheet commitments to extend credit and commercial and letters of credit are not considered practicable to estimate because of the lack of quoted market prices and the inability to estimate fair value without incurring excessive costs. The estimated fair values of financial instruments not carried at fair value and levels within the fair value hierarchy are as follows: September 30, December 31, Fair Value 2021 2020 Hierarchy Carrying Estimated Carrying Estimated Financial assets Cash and due from banks 1 $ 46,900 $ 46,900 $ 41,432 $ 41,432 Interest bearing deposits with other banks 2 95,978 95,978 41,988 41,988 Securities held-to-maturity 2 3,887 4,033 4,395 4,573 Other restricted stock 2 15,927 15,927 10,507 10,507 Loans held for sale 3 48,372 54,739 7,924 8,848 Loans and lease receivables, net (less impaired 3 4,485,994 4,478,323 4,202,793 4,205,906 Accrued interest receivable 3 18,857 18,857 20,678 20,678 Financial liabilities Non-interest-bearing deposits 2 2,117,749 2,117,749 1,762,676 1,762,676 Interest-bearing deposits 2 3,040,529 3,041,101 2,989,355 2,990,735 Accrued interest payable 2 1,687 1,687 1,478 1,478 Paycheck Protection Program Liquidity Facility 2 156,404 156,404 371,907 371,907 Federal Home Loan Bank advances 2 355,000 355,000 234,000 234,000 Securities sold under repurchase agreement 2 27,715 27,715 41,994 41,994 Subordinated notes 2 73,473 83,291 73,342 76,627 Junior subordinated debentures 3 36,796 40,777 36,451 40,543 |
Derivative Instruments and Hedg
Derivative Instruments and Hedge Activities | 9 Months Ended |
Sep. 30, 2021 | |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | |
Derivative Instruments and Hedge Activities | Note 16—Derivative Instruments and Hedge Activities As required by ASC 815, the Company records all derivatives on the balance sheet at fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether the Company has elected to designate a derivative in a hedging relationship and apply hedge accounting and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. The Company records derivative assets and derivative liabilities on the Consolidated Statements of Financial Condition within accrued interest receivable and other assets and accrued interest payable and other liabilities, respectively. The following tables present the fair value of the Company’s derivative financial instruments and classification on the Consolidated Statements of Financial Condition as of September 30, 2021 and December 31, 2020: September 30, 2021 December 31, 2020 Fair Value Fair Value Notional Other Other Notional Other Other Derivatives designated as hedging instruments Interest rate swaps designated as cash flow 400,000 $ 1,799 $ ( 192 ) $ — $ — $ — Derivatives not designated as hedging Other interest rate derivatives 458,698 11,664 ( 12,148 ) 383,410 17,149 ( 18,116 ) Other credit derivatives 7,788 — ( 8 ) 8,437 — ( 17 ) Total derivatives $ 866,486 $ 13,463 $ ( 12,348 ) $ 391,847 $ 17,149 $ ( 18,133 ) Interest rate swaps designated as cash flow hedges —Cash flow hedges of interest payments associated with certain other borrowings had notional amounts totaling $ 400.0 million as of September 30, 2021 . There were no cash flow hedges outstanding at December 31, 2020. The Company assesses the effectiveness of each hedging relationship by comparing the changes in fair value of the derivatives hedging instrument with the fair value of the designated hedged transactions. As of September 30, 2021 , the cash flow hedges aggregating $ 400.0 million in notional amounts are comprised of five forward starting pay fixed interest rate swaps, of which one for $ 100.0 million is effective in March 2022; one for $ 50.0 million is effective in September 2022; two totaling $ 200.0 million are effective in March 2023; and one for $ 50.0 million is effective May 2023. Included in other comprehensive income is the remaining balance related to previously terminated interest rate swaps designated as cash flow hedges of $ 253,000 as of September 30, 2021 and $ 304,000 as of December 31, 2020. These are amortized over the original life of the cash flow hedge. Interest recorded on these swap transactions was $ 29,000 and $ 22,000 during the three months ended September 30, 2021 , and 2020, respectively, and is reported as a component of interest expense on other borrowings. Interest recorded on these swap transactions was $ 71,000 and $ 64,000 during the nine months ended September 30, 2021, and 2020, respectively, and is reported as a component of interest expense on other borrowings. As of September 30, 2021 , the Company estimates $ 868,000 of the unrealized loss to be reclassified as an increase to interest expense during the next twelve months. The following table reflects the cash flow hedges as of September 30, 2021: Notional amounts $ 400,000 Derivative assets fair value 1,799 Derivative liabilities fair value 192 Weighted average maturity 5.2 years The weighted average pay rates of the forward swaps are 0.98 % and weighted average receive rates will be determined at the time the forward swaps become effective. The following table reflects the net gains (losses) recorded in accumulated other comprehensive income (loss) and the Consolidated Statements of Operations relating to the cash flow derivative instruments for the nine months ended: September 30, 2021 September 30, 2020 Amount of Amount of Amount of Amount of Amount of Amount of Interest rate swaps $ 1,606 $ ( 71 ) $ — $ — $ ( 64 ) $ — Derivatives not designated as hedges are not speculative and are used to manage the Company’s exposure to interest rate movements and other identified risks but do not meet the strict hedge accounting requirements and/or the Company has not elected to apply hedge accounting. Changes in the fair value of derivatives not designated in hedging relationships are recorded directly in earnings. Other interest rate derivatives —The total combined notional amount was $458.7 million as of September 30, 2021 with maturities ranging from January 2022 to September 2031 . The fair values of the interest rate derivative agreements are reflected in other assets and other liabilities with corresponding gains or losses reflected in non-interest income. During the three months ended September 30, 2021 and 2020 , there were $ 134,000 and $ 41,000 of net transaction fees, respectively, included in other non-interest income, related to these derivative instruments. During the nine months ended September 30, 2021 and 2020 , there were $ 840,000 and $ 700,000 of net transaction fees, respectively, included in other non-interest income, related to these derivative instruments. These instruments are inherently subject to market risk and credit risk. Market risk is associated with changes in interest rates and credit risk relates to the Company’s risk of loss when the counterparty to a derivative contract fails to perform according to the terms of the agreement. Market and credit risks are managed and monitored as part of the Company’s overall asset-liability management process. The credit risk related to derivatives entered into with certain qualified borrowers is managed through the Company’s loan underwriting process. The Company’s loan underwriting process also approves the Bank’s swap counterparty used to mirror the borrowers’ swap. The Company has a bilateral agreement with each swap counterparty that provides that fluctuations in derivative values are to be fully collateralized with either cash or securities. The following table reflects other interest rate derivatives as of September 30, 2021: Notional amounts $ 458,698 Derivative assets fair value 11,664 Derivative liabilities fair value 12,148 Weighted average pay rates 4.23 % Weighted average receive rates 3.03 % Weighted average maturity 5.6 years Other credit derivatives — The Company has entered into risk participation agreements with counterparty banks to assume a portion of the credit risk related to borrower transactions. The credit risk related to these other credit derivatives is managed through the Company’s loan underwriting process. The total notional amount was $ 7.8 million and $ 8.4 million as of September 30, 2021 and December 31, 2020, respectively. The fair value of the other credit derivatives are reflected in other liabilities with corresponding gains or losses reflected in non-interest income. The Company has agreements with its derivative counterparties that contain a cross-default provision under which if the Company defaults on any of its indebtedness, including default where repayment of the indebtedness has not been accelerated by the lender, then the Company could also be declared in default on its derivative obligations. The Company also has agreements with certain derivative counterparties that contain a provision where if the Company fails to maintain its status as a well or adequately capitalized institution, then the counterparty could terminate the derivative positions and the Company would be required to settle its obligations resulted in a net asset position. The following table reflects amounts included in non-interest income in the Consolidated Statements of Operations relating to derivative instruments that are not designated in a hedging relationship for the nine months ended September 30, 2021 and 2020: Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 Other interest rate derivatives $ 98 $ 113 $ 482 $ ( 627 ) Other credit derivatives 2 3 9 ( 8 ) Total $ 100 $ 116 $ 491 $ ( 635 ) The Company records interest rate derivatives subject to master netting agreements at their gross value and does not offset derivative asset and liabilities on the Consolidated Statements of Financial Condition. The table below summarizes the Company’s interest rate derivatives and offsetting positions as of: September 30, 2021 December 31, 2020 Derivative Derivative Derivative Derivative Gross amounts recognized $ 13,463 $ ( 12,348 ) $ 17,149 $ ( 18,133 ) Less: Amounts offset in the Consolidated Statements of — — — — Net amount presented in the Consolidated Statements of $ 13,463 $ ( 12,348 ) $ 17,149 $ ( 18,133 ) Gross amounts not offset in the Consolidated Statements of Offsetting derivative positions ( 1,814 ) 1,814 — — Collateral posted ( 11,649 ) 9,740 ( 17,149 ) 18,133 Net credit exposure $ — $ ( 794 ) $ — $ — As of September 30, 2021 , the fair value of derivatives in a net liability position, which includes accrued interest but excludes any adjustment for nonperformance risk, related to these agreements was $ 12.3 million. The Company has posted $ 9.7 million collateral related to these agreements as of September 30, 2021. If the Company had breached any of these provisions at September 30, 2021 , it could have been required to settle its obligations under the agreements at their termination value less offsetting positions of $ 1.8 million. For purposes of this disclosure, the amount of posted collateral by the Company and counterparties is limited to the amount offsetting the derivative asset and derivative liability. |
Share-Based Compensation
Share-Based Compensation | 9 Months Ended |
Sep. 30, 2021 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
Share-Based Compensation | Note 17 – Share-Based Compensation In June 2017, the Company adopted the 2017 Omnibus Incentive Compensation Plan (the “Omnibus Plan”) in connection with our IPO. The Omnibus Plan provides for the grant of stock options, stock appreciation rights, restricted stock, restricted stock units, dividend equivalent rights and other equity-based, equity-related or cash-based awards. A total of 1,550,000 shares of our common stock have been reserved for issuance under the Omnibus Plan. As of September 30, 2021 , there were 698,331 shares available for future grants under the Omnibus Plan. The Company primarily grants time-based restricted share awards that vest over a one to four year period, subject to continued employment. The Company also grants performance-based restricted share awards. The number of shares which may be earned under the award is dependent upon the Company’s return on average assets, weighted equally, over a three-year period, measured against a peer group consisting of publicly-traded bank holding companies. Results will be measured cumulatively at the end of the three years. Any earned shares will vest on the third anniversary of the grant date. During 2021, the Company granted 308,452 shares of restricted common stock, par value $ 0.01 per share. Of this total, 119,344 restricted shares will vest ratably over four years on each anniversary of the grant date, 109,475 restricted shares will vest ratably on the last business day of 2021, 2022 and 2023, 38,279 restricted shares will vest ratably over three years on each anniversary of the grant date, 9,141 restricted shares will cliff vest on the third anniversary of the grant date, and 130 shares have vested, all subject to continued employment. In addition, 32,083 performance-based restricted shares were included in the February 2021 grant. The number of shares which may be earned under the award is dependent upon the Company’s return on average assets, weighted equally, over a three-year period ending December 31, 2023, measured against a peer group consisting of publicly-traded bank holding companies. Results will be measured cumulatively at the end of the three years. Any earned shares will vest on the third anniversary of the grant date. The following table discloses the changes in restricted shares for the nine months ended September 30, 2021: Omnibus Plan Number of Shares Weighted Average Beginning balance, January 1, 2021 383,539 $ 18.75 Granted 308,452 19.38 Vested ( 103,187 ) 19.52 Forfeited ( 9,740 ) 20.58 Ending balance outstanding at September 30, 2021 579,064 $ 18.92 A total of 103,187 restricted shares vested during the nine months ended September 30, 2021 . A total of 113,264 restricted shares vested during the year ended December 31, 2020. The fair value of restricted shares that vested during the nine months ended September 30, 2021 was $ 2.2 million. The fair value of restricted shares that vested during the year ended December 31, 2020 was $ 1.4 million. The Company recognizes share-based compensation based on the estimated fair value of the restricted stock at the grant date. Share-based compensation expense is included in non-interest expense in the Consolidated Statements of Operations. The following table summarizes restricted stock compensation expense for the nine months ended September 30, 2021 and 2020: Nine Months Ended September 30, 2021 2020 Total share-based compensation - restricted stock $ 2,966 $ 2,019 Income tax benefit 826 562 Unrecognized compensation expense 7,840 5,566 Weighted-average amortization period remaining 2.4 years 2.4 years The fair value of the unvested restricted stock awards at September 30, 2021 was $ 14.2 million. In October 2014, the Company adopted the Byline Bancorp, Inc. Equity Incentive Plan (“BYB Plan”). The maximum number of shares available for grants under this plan was 2,476,122 shares. During 2016 and 2015, the Company granted options to purchase 212,400 and 1,634,568 shares, respectively; the Company did no t grant any stock options during 2017. In June 2017, the Board of Directors terminated the BYB Plan and no future grants can be made under this plan. Options to purchase a total of 1,344,548 shares remain outstanding under the BYB Plan at September 30, 2021. The types of stock options granted under the BYB Plan were Time Options and Performance Options. The exercise price of each option is equal to the fair value of the stock as of the date of grant. These option awards have vesting periods ranging from one to five years and have 10-year contractual terms. Stock volatility was computed as the average of the volatilities of peer group companies. All outstanding stock options were fully vested and exercisable at September 30, 2021. The fair values of the stock options were determined using the Black-Scholes-Merton model for Time Options and a Monte Carlo simulation model for Performance Options. The following table discloses the activity in shares subject to options and the weighted average exercise prices, in actual dollars, for the nine months ended September 30, 2021: BYB Plan Number of Shares Weighted Average Exercise Price Intrinsic Weighted Average Remaining Contractual Term (in Years) Beginning balance, January 1, 2021 1,390,579 $ 11.36 $ 5,724 4.4 Exercised ( 46,031 ) 13.66 $ 359 Expired — Ending balance outstanding at September 30, 2021 1,344,548 $ 11.28 $ 17,851 3.7 Exercisable at September 30, 2021 1,344,548 $ 11.28 $ 17,851 3.7 A total of 46,031 stock options were exercised during the nine months ended September 30, 2021 , proceeds of which were $ 629,000 , with a related tax benefit of $ 100,000 . A total of 19,496 stock options were exercised during the year ended December 31, 2020. During the year ended December 31, 2020, with proceeds of $ 253,000 and a related tax benefit of $ 39,000 . No stock options vested during the three or nine months ended September 30, 2021. The Company recognizes share-based compensation based on the estimated fair value of the option at the grant date. Forfeitures are estimated based upon industry standards. Share-based compensation expense is included in non-interest expense in the Consolidated Statements of Operations. The following table summarizes stock option compensation expense for the nine months ended September 30, 2021 and 2020: Nine Months Ended September 30, 2021 2020 Total share-based compensation - stock options $ — $ 7 Income tax benefit — 2 Unrecognized compensation expense - stock options — — Weighted-average amortization period remaining 0.0 years 0.0 years There was no unrecognized stock option compensation expenses as of September 30, 2021. Pursuant to the terms of the Merger Agreement, upon the Effective Time, each outstanding First Evanston Option held by a participant in the First Evanston Bancorp, Inc. Stock Incentive Plan (the “FEB Plan”) ceased to represent a right to acquire shares of First Evanston common stock and was assumed and converted automatically into a fully vested and exercisable adjusted option to purchase shares of Byline common stock (each an “Adjusted Option”). In accordance with the Merger Agreement, the number of shares of Byline common stock to which each such Adjusted Option relates is equal to the product (rounded down to the nearest whole share of Byline common stock) of: (a) the number of shares of First Evanston common stock subject to the First Evanston Option immediately prior to May 31, 2018, multiplied by (ii) 4.725 . Each Adjusted Option has an exercise price per share of Byline common stock equal to the quotient (rounded up to the nearest whole cent) of (x) the per share exercise price of such First Evanston Option immediately prior to May 31, 2018, divided by (y) 4.725 . The description of the conversion process is based on, and qualified by, the Merger Agreement. The following table discloses the activity in shares subject to options under the FEB Plan and the weighted average exercise prices, in actual dollars, for the nine months ended September 30, 2021: FEB Plan Number of Shares Weighted Average Exercise Price Intrinsic Weighted Average Remaining Contractual Term (in Years) Beginning balance, January 1, 2021 233,630 $ 11.52 $ 918 3.3 Exercised ( 46,774 ) $ 11.55 $ 313 Expired — Ending balance outstanding at September 30, 2021 186,856 $ 11.52 $ 2,437 3.3 Exercisable at September 30, 2021 186,856 $ 11.52 $ 2,437 3.3 A total of 46,774 stock options were exercised during the nine months ended September 30, 2021 , proceeds of which were $ 540,000 and a related tax benefit of $ 87,000 . A total of 255,615 stock options were exercised during the year ended December 31, 2020, proceeds of which were $ 2.8 million and a related tax benefit of $ 219,000 . No stock options vested during the three or nine months ended September 30, 2021 . |
Earnings per Share
Earnings per Share | 9 Months Ended |
Sep. 30, 2021 | |
Earnings Per Share [Abstract] | |
Earnings per Share | Note 18—Earnings per Share A reconciliation of the numerators and denominators for earnings per common share computations is presented below. Incremental shares represent outstanding stock options for which the exercise price is less than the average market price of the Company’s common stock during the periods presented. Options to purchase 1,531,404 and 1,676,371 shares of common stock were outstanding as of September 30, 2021 and 2020, respectively. There were 579,064 and 392,439 restricted stock awards outstanding at September 30, 2021 and 2020, respectively. For the three and nine months ended September 30, 2021 , no stock options outstanding were excluded from the calculation of diluted earnings per common share. For the three and nine months ended September 30, 2020, 105,657 and 50,000 stock options outstanding were excluded from the calculation of diluted earnings per common share, as their effect would have been anti-dilutive. The following represent the calculation of basic and diluted earnings per share for the periods presented: Three Months Ended Nine Months Ended 2021 2020 2021 2020 Net income $ 25,306 $ 13,071 $ 75,596 $ 25,176 Less: Dividends on preferred shares 196 196 587 587 Net income available to common stockholders $ 25,110 $ 12,875 $ 75,009 $ 24,589 Weighted-average common stock outstanding: Weighted-average common stock outstanding (basic) 37,200,778 38,057,350 37,773,350 37,973,694 Incremental shares 817,523 191,985 749,762 278,269 Weighted-average common stock outstanding (dilutive) 38,018,301 38,249,335 38,523,112 38,251,963 Basic earnings per common share $ 0.68 $ 0.34 $ 1.99 $ 0.65 Diluted earnings per common share $ 0.66 $ 0.34 $ 1.95 $ 0.64 |
Stockholders' Equity
Stockholders' Equity | 9 Months Ended |
Sep. 30, 2021 | |
Equity [Abstract] | |
Stockholders' Equity | Note 19—Stockholders’ Equity A summary of the Company’s preferred and common stock at September 30, 2021 and December 31, 2020 is as follows: September 30, December 31, 2021 2020 Series B 7.5 % fixed to floating non-cumulative Par value $ 0.01 $ 0.01 Shares authorized 50,000 50,000 Shares issued 10,438 10,438 Shares outstanding 10,438 10,438 Common stock, voting Par value $ 0.01 $ 0.01 Shares authorized 150,000,000 150,000,000 Shares issued 39,170,541 38,736,540 Shares outstanding 37,690,087 38,618,054 Treasury shares 1,480,454 118,486 During 2016, the Company authorized and issued Series B 7.50 % fixed-to-floating non-voting, noncumulative perpetual preferred stock with a liquidation preference of $1,000 per share, plus the amount of unpaid dividends, if any, which is redeemable at the Company’s option on or after March 31, 2022. Holders of Series B Preferred Stock do not have any rights to convert such stock into shares of any other class of capital stock of the Company. Holders of Series B Preferred Stock are entitled to receive a fixed dividend of 7.50 % per annum from the original issue date through December 30, 2021 , after which the dividend is paid at a floating rate of three-month LIBOR plus 5.41 % per annum. The Company Series B Preferred Stock is included in Tier 1 capital for regulatory capital purposes and is redeemable at the option of the Company at a redemption price of $1,000 per share, plus any declared and unpaid dividends (i) in whole or part on any dividend payment date on or after March 31, 2022, and (ii) in whole but not in part prior to March 31, 2022, within 90 days following a regulatory event, as defined in the Certificate of Designations of the Company Series B Preferred Stock. The Company must receive approval of the Federal Reserve Board prior to any redemption of the Company Series B Preferred Stock. For the three months ended September 30, 2021 and 2020, the Company declared and paid dividends on the Series B preferred stock of $ 196,000 . For the nine months ended September 30, 2021 and 2020, the Company declared and paid dividends on the Series B preferred stock of $ 587,000 . On December 10, 2020, the Company announced that its Board of Directors approved a stock repurchase program authorizing the purchase of up to an aggregate of 1,250,000 shares of the Company’s outstanding common stock, and on July 27, 2021, the Company's Board of Directors authorized an expansion of its current stock repurchase program. Under the extended program, the Company is authorized to repurchase an additional 1,250,000 shares of the Company's outstanding common stock. The shares may, at the discretion of management, be repurchased from time to time in open market purchases as market conditions warrant or in privately negotiated transactions. The Company is not obligated to purchase any shares under the program, and the program may be discontinued at any time. The actual timing, number and share price of shares purchased under the repurchase program will be determined by the Company at its discretion and will depend on a number of factors, including the market price of the Company’s stock, general market and economic conditions and applicable legal requirements. The shares authorized to be repurchased represent approximately 3.0 % of the Company’s outstanding common stock at September 30, 2021. The program will be in effect until December 31, 2022 unless terminated earlier. The Company purchased 460,220 shares at a cost of $ 10.4 million under this program during the three months ended September 30, 2021 . The Company purchased 1,331,708 shares at a cost of $ 28.9 million under this program during the nine months ended September 30, 2021. Repurchased shares are recorded as treasury shares on the trade date using the treasury stock method, and the cash paid is recorded as treasury stock. Treasury stock acquired is recorded at cost and is carried as a reduction of stockholders’ equity in the Consolidated Statement of Financial Condition. For the three and nine months ended September 30, 2021, cash dividends were declared and paid to stockholders of record of the Company's common stock of $ 0.09 per share and $ 0.21 per share, respectively. For the three and nine months ended September 30, 2020, cash dividends were declared and paid to stockholders of record of the Company's common stock of $ 0.03 per share and $ 0.09 per share, respectively. On October 26, 2021, the Company’s Board of Directors declared a cash dividend of $ 0.09 per share payable on November 23, 2021 to stockholders of record of the Company’s common stock as of November 9, 2021 . |
Consolidated Statements of Chan
Consolidated Statements of Changes in Accumulated Other Comprehensive Income (Loss) | 9 Months Ended |
Sep. 30, 2021 | |
Accumulated Other Comprehensive Income Loss Net Of Tax [Abstract] | |
Consolidated Statements of Changes in Accumulated Other Comprehensive Income (Loss) | Note 20—Consolidated Statements of Changes in Accumulated Other Comprehensive Income (Loss) The following table summarizes the changes in accumulated other comprehensive income (loss) for the nine months ended September 30, 2021 and 2020: (dollars in thousands) Unrealized Unrealized Gains Total Balance, January 1, 2020 $ ( 366 ) $ ( 334 ) $ ( 700 ) Other comprehensive income, net of tax 46 19,978 20,024 Balance, September 30, 2020 $ ( 320 ) $ 19,644 $ 19,324 Balance, January 1, 2021 $ ( 305 ) $ 18,352 $ 18,047 Other comprehensive income (loss), net of tax 1,211 ( 24,772 ) ( 23,561 ) Balance, September 30, 2021 $ 906 $ ( 6,420 ) $ ( 5,514 ) |
Basis of Presentation (Policies
Basis of Presentation (Policies) | 9 Months Ended |
Sep. 30, 2021 | |
Accounting Policies [Abstract] | |
Basis of Presentation | These unaudited interim condensed consolidated financial statements include the accounts of Byline Bancorp, Inc., a Delaware corporation (the “Company,” “Byline,” “we,” “us,” “our”), a bank holding company whose principal activity is the ownership and management of its Illinois state chartered subsidiary bank, Byline Bank (the “Bank”), based in Chicago, Illinois. These unaudited interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X as promulgated by the Securities and Exchange Commission (“SEC”). In preparing these financial statements, the Company has evaluated events and transactions subsequent to September 30, 2021 for potential recognition or disclosure. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation of the financial position and results of operations for the periods presented have been included. Certain information in footnote disclosures normally included in financial statements prepared in accordance with GAAP has been condensed or omitted pursuant to the rules and regulations of the SEC and the accounting standards for interim financial statements. These financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Consolidated Financial Statements for the years ended December 31, 2020, 2019, and 2018. In accordance with the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 855, “Subsequent Events,” the Company’s management has evaluated subsequent events for potential recognition or disclosure through the date of the issuance of these condensed consolidated financial statements. The Company has one reportable segment. The Company’s chief operating decision maker evaluates the operations of the Company using consolidated information for purposes of allocating resources and assessing performance. Therefore, segments disclosures are not required. No subsequent events were identified that would have required a change to the condensed consolidated financial statements or disclosure in the notes to the condensed consolidated financial statements. Certain prior period amounts have been reclassified to conform to current period presentation. These reclassifications did not result in any changes to previously reported net income or stockholders’ equity. |
Accounting Pronouncements Recently Adopted or Issued | The following reflect recent accounting pronouncements that have been adopted or are pending adoption by the Company. As the Company qualifies as an emerging growth company and has elected the extended transition period for complying with new or revised accounting pronouncements, it is not subject to new or revised accounting standards applicable to public companies during the extended transition period. The accounting pronouncements pending adoption below reflect effective dates for the Company as an emerging growth company with the extended transition period. Adopted Accounting Pronouncement Leases (Topic 842) — On January 1, 2021, the Company adopted ASU No. 2016-02 Leases and subsequent amendments thereto, which requires the Company to recognize most leases on the balance sheet. We adopted the standard under a modified retrospective approach as of the date of adoption and elected to apply several of the available practical expedients, including: • Carry over of historical lease determination and lease classification conclusions • Carry over of historical initial direct cost balances for existing leases • Option not to recognize right-of-use assets and lease liabilities that arise from short-term leases (i.e. lease terms of twelve months or less) • Use of hindsight in determining the lease term and right-of-use assets • Accounting for lease and non-lease components in contracts in which the Company is a lessee as a single lease component Adoption of the leasing standard resulted in the recognition of operating right-of-use assets of $ 10.5 million and operating lease liabilities of $ 11.7 million as of January 1, 2021. These amounts were determined based on the present value of remaining minimum lease payments, discounted using the Company’s incremental borrowing rate as of the date of adoption. This guidance also applies to the Company’s investment in direct financing leases, which are included in loans, but did not have a material impact. There was no material impact to the timing of expense or income recognition in the Company’s Consolidated Statements of Operations. Prior periods were not restated and continue to be presented under legacy GAAP. Refer to Note 8—Leases for further details. Issued Accounting Pronouncements Pending Adoption Financial Instruments—Credit Losses (Topic 326) —In June 2016, FASB issued ASU No. 2016‑13, Measurement of Credit Losses on Financial Instruments . Current GAAP requires an “incurred loss” methodology for recognizing credit losses that delays recognition until it is probable a loss has been incurred. The main objective of this ASU is to provide financial statement users with more decision-useful information about the expected credit losses on financial instruments and other commitments to extend credit held by a reporting entity at each reporting date. The amendments in this ASU replace the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The amendments in this ASU require a financial asset (or group of financial assets) measured at amortized cost basis to be presented at the net amount expected to be collected. The allowance for credit losses is a valuation account that is deducted from the amortized cost basis of the financial asset(s) to present the net carrying value at the amount expected to be collected on the financial asset. The measurement of expected credit losses will be based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. The amendments in this ASU broaden the information that an entity must consider in developing its expected credit loss estimate for assets measured either collectively or individually. The use of forecasted information incorporates more timely information in the estimate of expected credit loss, which will be more useful to users of the financial statements. In November 2019, FASB issued ASU No. 2019-10, Effective Dates , which delays the effective date of the ASU for entities not classified as a public business entity. Assuming the Company remains an emerging growth company, the Company anticipates adopting the standard on December 31, 2022. The Company is in the process of implementation and determining the impact that this ASU will have on the Company’s Consolidated Financial Statements. Income Taxes (Topic 740) —In December 2019, FASB issued ASU No. 2019-12, Simplifying the Accounting for Income Taxes . The amendments in the ASU simplify the accounting for income taxes by removing the following: the exception to the incremental approach for intraperiod tax allocation when there is a loss from continuing operations and income or a gain from other items; the exception to the requirement to or not to recognize a deferred tax liability for a foreign entity when it becomes an equity method investment or it becomes a subsidiary, respectively; and the exception to the general methodology for calculating income taxes in an interim period when a year-to-date loss exceeds the anticipated loss for the year. The amendments in the ASU changes current authoritative guidance by requiring the recognition of franchise tax that is partially based on income as an income-based tax and account for any incremental amount incurred as a non-income-based tax; requiring an evaluation when a step up in the tax basis of goodwill should be considered part the of business combination; specifying that it is not required to allocate the consolidated amount of current and deferred tax expense to a legal entity that is not subject to tax in its separate financial statements; and requiring that an entity reflect the effect of an enacted change in tax laws or rates in the annual effective tax rate computation in the interim period that includes the enactment date. The amendments are effective for annual periods beginning after December 15, 2021, and interim periods within annual periods beginning after December 15, 2022. Early adoption is permitted. Assuming the Company remains an emerging growth company, the new authoritative guidance will be effective for reporting periods after January 1, 2022. The Company is currently evaluating the provisions of ASU No. 2019-12 to determine the potential impact the new standard will have on the Company’s Consolidated Financial Statements. Reference Rate Reform (Topic 848) —In March 2020, FASB issued ASU No. 2020-04, Facilitation of the Effects of Reference Rate Reform on Financial Reporting and in January 2021, the FASB issued ASU No. 2021-01, Reference Rate Reform . The amendments in the ASU provide optional guidance for a limited period of time to ease the potential burden in accounting for (or recognizing the effects of) reference rate reform on financial reporting. The amendments in the ASU provide optional expedients and exceptions for applying generally accepted accounting principles to contract modifications and hedging relationships, subject to meeting certain criteria, that reference LIBOR or another reference rate expected to be discontinued. The ASU is intended to help stakeholders during the global market-wide reference rate transition period. The amendments in the ASU will be in effect for all entities as of March 12, 2020 through December 31, 2022. The Company is currently evaluating the impact of reference rate reform to determine the potential impact the new standard will have on the Company’s Consolidated Financial Statements. |
Securities (Tables)
Securities (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Investments Debt And Equity Securities [Abstract] | |
Summary of Amortized Cost and Fair Values of Securities Available-for-sale, and Held to Maturity | The following tables summarize the amortized cost and fair values of securities available-for-sale and securities held-to-maturity as of the dates shown and the corresponding amounts of gross unrealized gains and losses: September 30, 2021 Amortized Gross Gross Fair Available-for-sale U.S. Treasury Notes $ 8,487 $ 91 $ — $ 8,578 U.S. Government agencies 124,244 885 ( 1,865 ) 123,264 Obligations of states, municipalities, and 101,499 3,725 ( 164 ) 105,060 Residential mortgage-backed securities Agency 794,856 3,303 ( 12,986 ) 785,173 Non-agency 64,645 86 ( 722 ) 64,009 Commercial mortgage-backed securities Agency 237,376 3,179 ( 3,146 ) 237,409 Corporate securities 64,842 2,002 ( 17 ) 66,827 Asset-backed securities 37,203 83 ( 1 ) 37,285 Total $ 1,433,152 $ 13,354 $ ( 18,901 ) $ 1,427,605 September 30, 2021 Amortized Gross Gross Fair Held-to-maturity Obligations of states, municipalities, and $ 3,887 $ 146 $ — $ 4,033 Total $ 3,887 $ 146 $ — $ 4,033 December 31, 2020 Amortized Gross Gross Fair Available-for-sale U.S. Treasury Notes $ 23,468 $ 344 $ — $ 23,812 U.S. Government agencies 113,088 600 ( 137 ) 113,551 Obligations of states, municipalities, and 135,513 6,991 ( 85 ) 142,419 Residential mortgage-backed securities Agency 764,951 13,645 ( 205 ) 778,391 Non-agency 32,654 332 ( 5 ) 32,981 Commercial mortgage-backed securities Agency 244,496 6,046 ( 390 ) 250,152 Corporate securities 59,020 1,850 ( 102 ) 60,768 Asset-backed securities 45,255 26 ( 125 ) 45,156 Total $ 1,418,445 $ 29,834 $ ( 1,049 ) $ 1,447,230 December 31, 2020 Amortized Gross Gross Fair Held-to-maturity Obligations of states, municipalities, and political $ 4,395 $ 178 $ — $ 4,573 Total $ 4,395 $ 178 $ — $ 4,573 |
Summary of Gross Unrealized Losses and Fair Values, Aggregated by Investment Category and Length of Individual Securities Continuous Unrealized Loss Position Available-for-sale and Held to Maturity | Gross unrealized losses and fair values, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position as of September 30, 2021 and December 31, 2020, are summarized as follows: Less than 12 Months 12 Months or Longer Total September 30, 2021 # of Fair Unrealized Fair Unrealized Fair Unrealized Available-for-sale U.S. Government agencies 10 $ 74,687 $ ( 1,506 ) $ 9,641 $ ( 359 ) $ 84,328 $ ( 1,865 ) Obligations of states, 7 8,097 ( 164 ) — — 8,097 ( 164 ) Residential mortgage-backed Agency 51 620,325 ( 12,626 ) 11,805 ( 360 ) 632,130 ( 12,986 ) Non-agency 5 34,310 ( 722 ) — — 34,310 ( 722 ) Commercial mortgage-backed Agency 21 75,001 ( 2,369 ) 26,823 ( 777 ) 101,824 ( 3,146 ) Corporate securities 2 5,041 ( 17 ) — — 5,041 ( 17 ) Asset-backed securities 1 4,997 ( 1 ) — — 4,997 ( 1 ) Total 97 $ 822,458 $ ( 17,405 ) $ 48,269 $ ( 1,496 ) $ 870,727 $ ( 18,901 ) Less than 12 Months 12 Months or Longer Total December 31, 2020 # of Fair Unrealized Fair Unrealized Fair Unrealized Available-for-sale U.S. Government agencies 5 $ 30,639 $ ( 137 ) $ — $ — $ 30,639 $ ( 137 ) Obligations of states, 2 210 ( 85 ) — — 210 ( 85 ) Residential mortgage-backed Agency 8 45,253 ( 198 ) 472 ( 7 ) 45,725 ( 205 ) Non-agency 2 3,963 ( 5 ) — — 3,963 ( 5 ) Commercial mortgage-backed Agency 8 55,554 ( 390 ) — — 55,554 ( 390 ) Corporate securities 6 10,916 ( 102 ) — — 10,916 ( 102 ) Asset-backed securities 6 24,436 ( 99 ) 4,952 ( 26 ) 29,388 ( 125 ) Total 37 $ 170,971 $ ( 1,016 ) $ 5,424 $ ( 33 ) $ 176,395 $ ( 1,049 ) |
Summary of Proceeds From Sales of Securities Available-for-sale and Associated Gains and Losses | The proceeds from all sales of securities available-for-sale, and the associated gains and losses on sales and calls of securities, for the three and nine months ended September 30, 2021 and 2020 are listed below: For the Three Months Ended For the Nine Months Ended September 30, September 30, 2021 2020 2021 2020 Proceeds $ — $ 35,092 $ 186,850 $ 80,509 Gross gains 130 1,037 2,525 2,494 Gross losses — — 1,069 82 |
Schedule of Amortized Cost and Fair Value of Debt Securities by Contractual Maturity | At September 30, 2021, the amortized cost and fair value of debt securities are shown by contractual maturity. Expected maturities may differ from contractual maturities if borrowers have the right to call or prepay obligations with or without call or prepayment penalties. Securities not due at a single maturity date are shown separately. Amortized Fair Available-for-sale Due in one year or less $ 23,201 $ 23,402 Due from one to five years 26,476 27,466 Due from five to ten years 209,435 211,691 Due after ten years 77,163 78,455 Mortgage-backed securities 1,096,877 1,086,591 Total $ 1,433,152 $ 1,427,605 Held-to-maturity Due from one to five years 3,887 4,033 Total $ 3,887 $ 4,033 |
Loan and Lease Receivables (Tab
Loan and Lease Receivables (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Receivables [Abstract] | |
Schedule of Outstanding Loan and Lease Receivables | Outstanding loan and lease receivables as of the dates shown were categorized as follows: September 30, December 31, 2021 2020 Commercial real estate $ 1,615,875 $ 1,416,731 Residential real estate 507,226 569,387 Construction, land development, and other land 340,428 231,602 Commercial and industrial 1,535,412 1,372,452 Paycheck Protection Program ("PPP") 275,619 527,044 Installment and other 1,396 1,942 Lease financing receivables 334,484 223,295 Total loans and leases 4,610,440 4,342,453 Net unamortized deferred fees and costs ( 5,484 ) ( 5,764 ) Initial direct costs 4,272 3,846 Allowance for loan and lease losses ( 60,598 ) ( 66,347 ) Net loans and leases $ 4,548,630 $ 4,274,188 September 30, December 31, 2021 2020 Lease financing receivables Net minimum lease payments $ 337,512 $ 234,472 Unguaranteed residual values 22,338 8,690 Unearned income ( 25,366 ) ( 19,867 ) Total lease financing receivables 334,484 223,295 Initial direct costs 4,272 3,846 Lease financial receivables before allowance for $ 338,756 $ 227,141 |
Summary of Minimum Annual Lease Payments for Lease Financing Receivables | The minimum annual lease payments for lease financing receivables as of September 30, 2021 are summarized as follows: Minimum Lease 2021 $ 27,875 2022 110,733 2023 85,005 2024 59,682 2025 39,328 Thereafter 14,889 Total $ 337,512 |
Summary of Balances for Each Respective Loan and Lease Category | The following tables summarize the balances for each respective loan and lease category as of September 30, 2021 and December 31, 2020: September 30, 2021 Originated Acquired Acquired Total Commercial real estate $ 1,298,454 $ 84,821 $ 235,103 $ 1,618,378 Residential real estate 387,578 61,893 58,283 507,754 Construction, land development, and other land 336,460 1,746 206 338,412 Commercial and industrial 1,480,076 6,651 49,678 1,536,405 Paycheck Protection Program 268,081 — — 268,081 Installment and other 998 169 275 1,442 Lease financing receivables 331,149 — 7,607 338,756 Total loans and leases $ 4,102,796 $ 155,280 $ 351,152 $ 4,609,228 December 31, 2020 Originated Acquired Acquired Total Commercial real estate $ 1,017,587 $ 108,484 $ 295,599 $ 1,421,670 Residential real estate 414,220 78,840 79,211 572,271 Construction, land development, and other land 226,408 4,113 212 230,733 Commercial and industrial 1,276,527 10,178 82,195 1,368,900 Paycheck Protection Program 517,815 — — 517,815 Installment and other 1,267 202 536 2,005 Lease financing receivables 214,636 — 12,505 227,141 Total loans and leases $ 3,668,460 $ 201,817 $ 470,258 $ 4,340,535 |
Summary of Outstanding Balance and Carrying Amount of All Acquired Impaired Loans | The balances do not include an allowance for loan and lease losses of $4.3 million and $ 6.5 million, at September 30, 2021 and December 31, 2020, respectively. September 30, 2021 December 31, 2020 Unpaid Carrying Unpaid Carrying Commercial real estate $ 126,738 $ 84,821 $ 154,233 $ 108,484 Residential real estate 108,560 61,893 126,086 78,840 Construction, land development, and other land 9,301 1,746 12,677 4,113 Commercial and industrial 12,115 6,651 15,925 10,178 Installment and other 866 169 917 202 Total acquired impaired loans $ 257,580 $ 155,280 $ 309,838 $ 201,817 |
Summary of Changes in Accretable Yield for Acquired Impaired Loans | The following table summarizes the changes in accretable yield for acquired impaired loans for the three and nine months ended September 30, 2021 and 2020: Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 Beginning balance $ 24,474 $ 31,868 $ 27,696 $ 40,009 Accretion to interest income ( 3,080 ) ( 5,763 ) ( 9,896 ) ( 15,420 ) Reclassification from nonaccretable difference, net 1,217 5,727 4,811 7,243 Ending balance $ 22,611 $ 31,832 $ 22,611 $ 31,832 |
Schedule of Unpaid Principal Balance and Carrying Value for Acquired Non-Impaired Loans and Leases | The unpaid principal balance and carrying value for acquired non-impaired loans and leases at September 30, 2021 and December 31, 2020 were as follows: September 30, 2021 December 31, 2020 Unpaid Carrying Unpaid Carrying Commercial real estate $ 240,271 $ 235,103 $ 302,091 $ 295,599 Residential real estate 58,858 58,283 80,104 79,211 Construction, land development, and other land 271 206 278 212 Commercial and industrial 51,468 49,678 84,608 82,195 Installment and other 286 275 553 536 Lease financing receivables 7,638 7,607 13,978 12,505 Total acquired non-impaired loans and leases $ 358,792 $ 351,152 $ 481,612 $ 470,258 |
Allowance for Loan and Lease _2
Allowance for Loan and Lease Losses and Reserve for Unfunded Commitments (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Receivables [Abstract] | |
Allowance for Loan and Lease Losses and Reserve for Unfunded Commitments | The following tables summarize the balance and activity within the allowance for loan and lease losses, the components of the allowance for loan and lease losses in terms of loans and leases individually and collectively evaluated for impairment, and corresponding loan and lease balances by type for the three and nine months ended September 30, 2021 and 2020 are as follows: September 30, 2021 Commercial Residential Construction, Commercial Paycheck Installment Lease Total Allowance for loan and Three months ended Beginning balance $ 19,541 $ 1,364 $ 619 $ 38,284 $ — $ 9 $ 1,902 $ 61,719 Provision/(recapture) 1,108 ( 225 ) ( 61 ) ( 1,218 ) — ( 2 ) 750 352 Charge-offs ( 564 ) ( 65 ) — ( 1,456 ) — — ( 399 ) ( 2,484 ) Recoveries 287 2 — 380 — — 342 1,011 Ending balance $ 20,372 $ 1,076 $ 558 $ 35,990 $ — $ 7 $ 2,595 $ 60,598 Nine months ended Beginning balance $ 19,584 $ 2,400 $ 1,352 $ 41,183 $ — $ 15 $ 1,813 $ 66,347 Provision/(recapture) 2,891 ( 1,257 ) ( 468 ) 226 — ( 8 ) 1,366 2,750 Charge-offs ( 2,644 ) ( 76 ) ( 326 ) ( 6,172 ) — — ( 1,148 ) ( 10,366 ) Recoveries 541 9 — 753 — — 564 1,867 Ending balance $ 20,372 $ 1,076 $ 558 $ 35,990 $ — $ 7 $ 2,595 $ 60,598 Ending balance: Individually evaluated for $ 8,420 $ — $ — $ 16,142 $ — $ — $ — $ 24,562 Collectively evaluated for 9,314 723 550 18,572 — 7 2,595 31,761 Loans acquired with 2,638 353 8 1,276 — — — 4,275 Total allowance for loan $ 20,372 $ 1,076 $ 558 $ 35,990 $ — $ 7 $ 2,595 $ 60,598 September 30, 2021 Commercial Residential Construction, Commercial Paycheck Installment Lease Total Loans and leases ending balance: Individually evaluated for $ 45,563 $ 3,946 $ — $ 37,689 $ — $ — $ — $ 87,198 Collectively evaluated for 1,487,994 441,915 336,666 1,492,065 268,081 1,273 338,756 4,366,750 Loans acquired with 84,821 61,893 1,746 6,651 — 169 — 155,280 Total loans and leases $ 1,618,378 $ 507,754 $ 338,412 $ 1,536,405 $ 268,081 $ 1,442 $ 338,756 $ 4,609,228 September 30, 2020 Commercial Residential Construction, Commercial Paycheck Installment Lease Total Allowance for loan and lease losses Three months ended Beginning balance $ 14,110 $ 3,741 $ 1,491 $ 30,108 $ — $ 36 $ 1,814 $ 51,300 Provision 6,421 291 1,029 7,603 — 1 395 15,740 Charge-offs ( 1,566 ) ( 250 ) ( 701 ) ( 3,254 ) — — ( 374 ) ( 6,145 ) Recoveries 19 8 53 83 — — 200 363 Ending balance $ 18,984 $ 3,790 $ 1,872 $ 34,540 $ — $ 37 $ 2,035 $ 61,258 Nine months ended Beginning balance $ 7,965 $ 1,990 $ 610 $ 19,377 $ — $ 50 $ 1,944 $ 31,936 Provision/(recapture) 14,149 2,031 1,910 26,844 — ( 13 ) 792 45,713 Charge-offs ( 3,206 ) ( 259 ) ( 701 ) ( 12,057 ) — — ( 1,392 ) ( 17,615 ) Recoveries 76 28 53 376 — — 691 1,224 Ending balance $ 18,984 $ 3,790 $ 1,872 $ 34,540 $ — $ 37 $ 2,035 $ 61,258 Ending balance: Individually evaluated for $ 4,516 $ 77 $ — $ 10,189 $ — $ — $ — $ 14,782 Collectively evaluated for 11,825 3,413 1,685 22,450 — 37 2,035 41,445 Loans acquired with 2,643 300 187 1,901 — — — 5,031 Total allowance for loan and $ 18,984 $ 3,790 $ 1,872 $ 34,540 $ — $ 37 $ 2,035 $ 61,258 September 30, 2020 Commercial Residential Construction, Commercial Paycheck Installment Lease Total Loans and leases ending balance: Individually evaluated for $ 39,001 $ 1,636 $ — $ 37,253 $ — $ — $ — $ 77,890 Collectively evaluated for 1,191,740 547,563 234,230 1,281,067 622,191 2,929 200,089 4,079,809 Loans acquired with 117,114 84,197 4,804 10,489 — 214 — 216,818 Total loans and leases $ 1,347,855 $ 633,396 $ 239,034 $ 1,328,809 $ 622,191 $ 3,143 $ 200,089 $ 4,374,517 |
Summary of Recorded Investment, Unpaid Principal Balance, and Related Allowance for Loans and Leases Considered Impaired | The following tables summarize the recorded investment, unpaid principal balance, and related allowance for loans and leases considered impaired as of September 30, 2021 and December 31, 2020, which exclude acquired impaired loans. For purposes of these tables, the unpaid principal balance represents the outstanding contractual balance. Impaired loans include loans that are individually evaluated for impairment as well as troubled debt restructurings for all loan categories. The sum of non-accrual loans and loans past due 90 days still on accrual will differ from the total impaired loan amount. September 30, 2021 Recorded Unpaid Related With no related allowance recorded Commercial real estate $ 20,432 $ 25,512 $ — Residential real estate 3,850 3,901 — Commercial and industrial 14,212 15,999 — With an allowance recorded Commercial real estate 25,131 26,569 8,420 Residential real estate 96 152 — Commercial and industrial 23,477 25,614 16,142 Total impaired loans $ 87,198 $ 97,747 $ 24,562 December 31, 2020 Recorded Unpaid Related With no related allowance recorded Commercial real estate $ 32,473 $ 34,792 $ — Residential real estate 1,558 1,644 — Commercial and industrial 17,944 19,917 — With an allowance recorded Commercial real estate 13,696 14,919 5,034 Residential real estate 272 274 78 Commercial and industrial 29,412 32,018 18,848 Total impaired loans $ 95,355 $ 103,564 $ 23,960 |
Summary of Average Recorded Investment and Interest Income Recognized for Loans and Leases Considered Impaired | The following tables summarize the average recorded investment and interest income recognized for loans and leases considered impaired, which excludes acquired impaired loans, for the nine months ended: September 30, 2021 Average Interest With no related allowance recorded Commercial real estate $ 28,480 $ 920 Residential real estate 2,788 109 Commercial and industrial 16,668 481 With an allowance recorded Commercial real estate 27,620 1,185 Residential real estate 207 2 Commercial and industrial 28,785 1,666 Total impaired loans $ 104,548 $ 4,363 September 30, 2020 Average Interest With no related allowance recorded Commercial real estate $ 22,511 $ 927 Residential real estate 1,615 26 Construction, land development, and other land 2,984 220 Commercial and industrial 16,991 493 With an allowance recorded Commercial real estate 13,329 526 Residential real estate 460 21 Commercial and industrial 21,352 1,078 Total impaired loans $ 79,242 $ 3,291 |
Summary of Risk Rating Categories of Loans and Leases Considered for Inclusion in Allowance for Loan and Lease Losses Calculation | The following tables summarize the risk rating categories of the loans and leases considered for inclusion in the allowance for loan and lease losses calculation, excluding acquired impaired loans, as of September 30, 2021 and December 31, 2020: September 30, 2021 Commercial Residential Construction, Commercial Paycheck Installment Lease Total Pass $ 1,297,981 $ 422,843 $ 291,496 $ 1,261,335 $ 268,081 $ 1,190 $ 335,475 $ 3,878,401 Watch 143,047 16,862 37,795 196,288 — 83 264 394,339 Special Mention 48,605 3,036 7,375 30,841 — — 1,934 91,791 Substandard 43,924 3,120 — 41,290 — — 786 89,120 Doubtful — — — — — — 297 297 Loss — — — — — — — — Total $ 1,533,557 $ 445,861 $ 336,666 $ 1,529,754 $ 268,081 $ 1,273 $ 338,756 $ 4,453,948 December 31, 2020 Commercial Residential Construction, Commercial Paycheck Installment Lease Total Pass $ 1,064,623 $ 463,103 $ 180,458 $ 1,027,399 $ 517,815 $ 1,706 $ 222,818 $ 3,477,922 Watch 134,381 22,086 46,162 225,930 — 96 47 428,702 Special Mention 60,022 3,795 — 56,784 — — 2,721 123,322 Substandard 54,160 4,447 — 48,609 — 1 955 108,172 Doubtful — — — — — — 600 600 Loss — — — — — — — — Total $ 1,313,186 $ 493,431 $ 226,620 $ 1,358,722 $ 517,815 $ 1,803 $ 227,141 $ 4,138,718 |
Summary of Contractual Delinquency Information | The following tables summarize contractual delinquency information for acquired non-impaired and originated loans and leases by category at September 30, 2021 and December 31, 2020: September 30, 2021 30-59 Days 60-89 Greater Non- Total Current Total Commercial real estate $ 330 $ 1,426 $ — $ 17,082 $ 18,838 $ 1,514,719 $ 1,533,557 Residential real estate 1,087 — — 2,127 3,214 442,647 445,861 Construction, land development, 2,035 — — — 2,035 334,631 336,666 Commercial and industrial 1,653 594 — 14,272 16,519 1,513,235 1,529,754 Paycheck Protection Program — — — — — 268,081 268,081 Installment and other 39 — — — 39 1,234 1,273 Lease financing receivables 973 98 — 984 2,055 336,701 338,756 Total $ 6,117 $ 2,118 $ — $ 34,465 $ 42,700 $ 4,411,248 $ 4,453,948 December 31, 2020 30-59 60-89 Greater Non- Total Current Total Commercial real estate $ 1,544 $ 4,194 $ — $ 15,969 $ 21,707 $ 1,291,479 $ 1,313,186 Residential real estate 1,686 — — 1,929 3,615 489,816 493,431 Construction, land development, — — — — — 226,620 226,620 Commercial and industrial 4,521 1,290 — 21,936 27,747 1,330,975 1,358,722 Paycheck Protection Program 517,815 517,815 Installment and other 6 — — 1 7 1,796 1,803 Lease financing receivables 996 376 — 1,268 2,640 224,501 227,141 Total $ 8,753 $ 5,860 $ — $ 41,103 $ 55,716 $ 4,083,002 $ 4,138,718 |
Summary of TDR's by Loan Category | The tables below present TDRs by loan category as of September 30, 2021 and December 31, 2020: September 30, 2021 Number Pre- Post- Charge-offs Specific Accruing: Commercial real estate 7 $ 2,130 $ 2,130 $ — $ 209 Commercial and industrial 1 63 63 — 63 Residential real estate 2 173 173 — — Total accruing 10 2,366 2,366 — 272 Non-accruing: Commercial real estate 3 856 740 116 311 Commercial and industrial 3 1,730 1,107 623 508 Total non-accruing 6 2,586 1,847 739 819 Total troubled debt restructurings 16 $ 4,952 $ 4,213 $ 739 $ 1,091 December 31, 2020 Number Pre- Post- Charge-offs Specific Accruing: Commercial real estate 8 $ 2,187 $ 2,187 $ — $ 104 Commercial and industrial 1 78 78 — 78 Residential real estate 3 230 230 — — Total accruing 12 2,495 2,495 — 182 Non-accruing: Commercial real estate 4 1,609 1,362 247 102 Commercial and industrial 14 4,420 4,288 132 3,157 Total non-accruing 18 6,029 5,650 379 3,259 Total troubled debt restructurings 30 $ 8,524 $ 8,145 $ 379 $ 3,441 |
Summary of Loans Modified as Troubled Debt Restructurings | Loans modified as troubled debt restructurings that occurred during the three and nine months ended September 30, 2021 and 2020 were: Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 Accruing: Beginning balance $ 2,395 $ 3,151 $ 2,495 $ 1,771 Additions — 604 281 604 Net payments ( 29 ) ( 1,462 ) ( 410 ) ( 1,538 ) Net transfers from non-accrual — — — 1,456 Ending balance 2,366 2,293 2,366 2,293 Non-accruing: Beginning balance 4,441 7,449 5,650 8,800 Additions — — 673 5,633 Net payments ( 2,584 ) ( 302 ) ( 3,568 ) ( 1,688 ) Charge-offs ( 10 ) ( 852 ) ( 908 ) ( 4,994 ) Net transfers to accrual — — — ( 1,456 ) Ending balance 1,847 6,295 1,847 6,295 Total troubled debt restructurings $ 4,213 $ 8,588 $ 4,213 $ 8,588 |
Servicing Assets (Tables)
Servicing Assets (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Transfers And Servicing [Abstract] | |
Activity for Servicing Assets and Related Changes in Fair Value | Activity for servicing assets and the related changes in fair value for the three and nine months ended September 30, 2021 and 2020 was as follows: Three Months Ended Nine Months Ended 2021 2020 2021 2020 Beginning balance $ 24,683 $ 18,351 $ 22,042 $ 19,471 Additions, net 1,564 1,794 5,703 4,449 Changes in fair value ( 2,650 ) 1,122 ( 4,148 ) ( 2,653 ) Ending balance $ 23,597 $ 21,267 $ 23,597 $ 21,267 |
Unpaid Principal Balances of Loans Serviced for Others | The unpaid principal balances of these loans serviced for others as of September 30, 2021 and December 31, 2020 were as follows: September 30, December 31, 2021 2020 Loan portfolios serviced for: SBA guaranteed loans $ 1,471,367 $ 1,395,713 USDA guaranteed loans 143,847 135,543 Total $ 1,615,214 $ 1,531,256 |
Other Real Estate Owned (Tables
Other Real Estate Owned (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Real Estate [Abstract] | |
Change in Other Real Estate Owned | The following table presents the change in other real estate owned (“OREO”) for the three and nine months ended September 30, 2021 and 2020: Three Months Ended Nine Months Ended 2021 2020 2021 2020 Beginning balance $ 4,417 $ 8,652 $ 6,350 $ 9,896 Net additions to OREO — 41 436 127 Proceeds from sales of OREO ( 1,498 ) ( 224 ) ( 2,998 ) ( 874 ) Gains (losses) on sales of OREO 114 ( 41 ) 133 44 Valuation adjustments — ( 278 ) ( 888 ) ( 1,043 ) Ending balance $ 3,033 $ 8,150 $ 3,033 $ 8,150 |
Leases (Tables)
Leases (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Leases [Abstract] | |
Schedule of Operating Lease Right-of-use Asset and Liability | The following table summarizes the amount and balance sheet line item for our operating lease right-of-use asset and liability as of September 30, 2021: Balance Sheet Line Item September 30, 2021 Operating lease right-of-use asset Accrued interest receivable and other assets $ 11,580 Operating lease liability Accrued interest payable and other liabilities 13,744 |
Schedule of Future Minimum Lease Payments for Operating Leases | The future minimum lease payments for operating leases, subsequent to September 30, 2021, as recorded on the balance sheet, are summarized as follows: Operating Lease 2021 $ 1,515 2022 3,618 2023 2,412 2024 2,194 2025 1,505 Thereafter 3,108 Total undiscounted lease payments 14,352 Less: imputed interest ( 608 ) Net lease liabilities $ 13,744 |
Goodwill, Core Deposit Intang_2
Goodwill, Core Deposit Intangible and Other Intangible Assets (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Summary of Changes in Goodwill, Core Deposit Intangible Assets and Customer Relationship Intangible Assets | The following tables summarize the changes in the Company’s goodwill, core deposit intangible assets, and customer relationship intangible assets for the three and nine months ended September 30, 2021 and 2020: For the Three Months Ended September 30, 2021 2020 Goodwill Core Deposit Customer Relationship Goodwill Core Deposit Customer Relationship Beginning balance $ 148,353 $ 18,346 $ 2,335 $ 148,353 $ 25,459 $ 2,658 Amortization — ( 1,672 ) ( 66 ) — ( 1,825 ) ( 122 ) Ending balance $ 148,353 $ 16,674 $ 2,269 $ 148,353 $ 23,634 $ 2,536 Accumulated amortization N/A $ 38,792 $ 947 N/A $ 31,832 $ 680 Weighted average remaining N/A 5.0 Years 8.5 Years N/A 5.8 Years 9.7 Years Nine Months Ended September 30, 2021 2020 Goodwill Core Deposit Customer Relationship Goodwill Core Deposit Customer Relationship Beginning balance $ 148,353 $ 21,809 $ 2,469 $ 148,353 $ 29,111 $ 2,791 Amortization — ( 5,135 ) ( 200 ) — ( 5,477 ) ( 255 ) Ending balance $ 148,353 $ 16,674 $ 2,269 $ 148,353 $ 23,634 $ 2,536 Accumulated amortization N/A $ 38,792 $ 947 N/A $ 31,832 $ 680 Weighted average remaining N/A 5.0 Years 8.5 Years N/A 5.8 Years 9.7 Years |
Estimated Amortization Expense for Core Deposit Intangible and Customer Relationship Intangible Recognized | The following table presents the estimated amortization expense for core deposit intangible and customer relationship intangible assets remaining at September 30, 2021: Estimated 2021 $ 1,737 2022 6,386 2023 4,336 2024 2,286 2025 1,721 Thereafter 2,477 Total $ 18,943 |
Deposits (Tables)
Deposits (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Deposits [Abstract] | |
Composition of Deposits | The composition of deposits was as follows as of September 30, 2021 and December 31, 2020: September 30, December 31, 2021 2020 Non-interest-bearing demand deposits $ 2,117,749 $ 1,762,676 Interest-bearing checking accounts 652,824 494,424 Money market demand accounts 1,057,419 1,142,709 Other savings 627,294 564,700 Time deposits (below $250,000) 553,364 600,810 Time deposits ($250,000 and above) 149,628 186,712 Total deposits $ 5,158,278 $ 4,752,031 |
Other Borrowings (Tables)
Other Borrowings (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Debt Disclosure [Abstract] | |
Summary of Other Borrowings | The following is a summary of the Company’s other borrowings as of September 30, 2021 and December 31, 2020: September 30, December 31, 2021 2020 Paycheck Protection Program Liquidity Facility $ 156,404 $ 371,907 Federal Home Loan Bank advances 355,000 234,000 Securities sold under agreements to repurchase 27,715 41,994 Line of credit — — Total $ 539,119 $ 647,901 |
Summary of Short-term Credit Lines Available for Use | The following table presents short-term credit lines available for use as of September 30, 2021 and December 31, 2020: September 30, December 31, 2021 2020 Federal Home Loan Bank line $ 1,910,295 $ 2,016,212 Federal Reserve Bank of Chicago discount window line 622,306 874,677 Available federal funds lines 115,000 115,000 |
Subordinated Notes and Junior_2
Subordinated Notes and Junior Subordinated Debentures (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Debt Disclosure [Abstract] | |
Junior Subordinated Debentures by Issuance | At September 30, 2021 and December 31, 2020, the Company’s junior subordinated debentures by issuance were as follows: Name of Trust Aggregate Principal Amount September 30, 2021 Aggregate Stated Contractual Rate at September 30, 2021 Interest Rate Spread Metropolitan Statutory Trust 1 $ 35,000 $ 35,000 March 17, 2034 2.91 % Three-month 2.79 % First Evanston Bancorp Trust I 10,000 10,000 March 15, 2035 1.90 % Three-month 1.78 % Total liability, at par 45,000 45,000 Discount ( 8,204 ) ( 8,549 ) Total liability, at carrying value $ 36,796 $ 36,451 |
Commitments and Contingent Li_2
Commitments and Contingent Liabilities (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Commitments And Contingencies Disclosure [Abstract] | |
Summary of Contract or Notional Amount of Outstanding Loan and Lease Commitments | The following table summarizes the contract or notional amount of outstanding loan and lease commitments at September 30, 2021 and December 31, 2020: September 30, 2021 December 31, 2020 Fixed Rate Variable Rate Total Fixed Rate Variable Rate Total Commitments to extend credit $ 173,848 $ 1,520,986 $ 1,694,834 $ 106,183 $ 1,261,872 $ 1,368,055 Letters of credit 653 58,479 59,132 652 58,120 58,772 Total $ 174,501 $ 1,579,465 $ 1,753,966 $ 106,835 $ 1,319,992 $ 1,426,827 |
Fair Value Measurement (Tables)
Fair Value Measurement (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Fair Value Disclosures [Abstract] | |
Summary of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis | The following tables summarize the Company’s financial assets and liabilities that were measured at fair value on a recurring basis at September 30, 2021 and December 31, 2020: Fair Value Measurements Using September 30, 2021 Fair Value Level 1 Level 2 Level 3 Financial assets Securities available-for-sale U.S. Treasury Notes $ 8,578 $ 8,578 $ — $ — U.S. Government agencies 123,264 — 123,264 — Obligations of states, municipalities, and political 105,060 — 105,060 — Mortgage-backed securities; residential Agency 785,173 — 785,173 — Non-Agency 64,009 — 64,009 — Mortgage-backed securities; commercial Agency 237,409 — 237,409 — Corporate securities 66,827 — 66,827 — Asset-backed securities 37,285 — 37,285 — Equity and other securities, at fair value Mutual funds 4,424 4,424 — — Equity securities 5,875 — 5,189 686 Servicing assets 23,597 — — 23,597 Derivative assets 13,463 — 13,463 — Financial liabilities Derivative liabilities 12,348 — 12,348 — Fair Value Measurements Using December 31, 2020 Fair Value Level 1 Level 2 Level 3 Financial assets Securities available-for-sale U.S. Treasury Notes $ 23,812 $ 23,812 $ — $ — U.S. Government agencies 113,551 — 113,551 — Obligations of states, municipalities, and political 142,419 — 142,419 Mortgage-backed securities; residential Agency 778,391 — 778,391 — Non-Agency 32,981 — 32,981 — Mortgage-backed securities; commercial Agency 250,152 — 250,152 — Corporate securities 60,768 — 60,768 — Asset-backed securities 45,156 — 45,156 — Equity and other securities, at fair value Mutual funds 2,983 2,983 — — Equity securities 5,781 — 5,096 685 Servicing assets 22,042 — — 22,042 Derivative assets 17,149 — 17,149 — Financial liabilities Derivative liabilities 18,133 — 18,133 — |
Summary of Financial Assets Measured at Fair Value on Recurring Basis Using Significant Unobservable Inputs | The following table presents additional information about financial assets measured at fair value on recurring basis for which the Company used significant unobservable inputs (Level 3): Nine Months Ended September 30, 2021 2020 2021 2020 Investment Securities Servicing Assets Balance, beginning of period $ 685 $ 700 $ 22,042 $ 19,471 Additions, net — — 5,703 4,449 Change in fair value 1 ( 16 ) ( 4,148 ) ( 2,653 ) Balance, end of period $ 686 $ 684 $ 23,597 $ 21,267 |
Summary of Unobservable Inputs Used in the Fair Value Measurements on Recurring Basis | The following table presents additional information about the unobservable inputs used in the fair value measurements on recurring basis that were categorized within Level 3 of the fair value hierarchy as of September 30, 2021: Financial Instruments Valuation Technique Unobservable Inputs Range of Weighted Impact to Single issuer trust preferred Discounted cash flow Discount rate 3.1 % - 6.4 % 4.5 % Decrease Servicing assets Discounted cash flow Prepayment speeds 0.5 % - 31.8 % 14.3 % Decrease Discount rate ( 3.0 )% - 50.0 % 8.1 % Decrease Expected weighted 0.2 - 8.5 years 3.9 years Increase |
Summary of Assets Measured at Fair Value on Non-Recurring Basis, Excluding Acquired Impaired Loans | The following tables summarize the Company’s assets that were measured at fair value on a non-recurring basis, excluding acquired impaired loans, as of September 30, 2021 and December 31, 2020: Fair Value Measurements Using September 30, 2021 Fair Value Level 1 Level 2 Level 3 Non-recurring Impaired loans (excluding acquired impaired loans) Commercial real estate $ 37,143 $ — $ — $ 37,143 Residential real estate 3,946 — — 3,946 Commercial and industrial 21,547 — — 21,547 Assets held for sale 10,982 — — 10,982 Other real estate owned 3,033 — — 3,033 Fair Value Measurements Using December 31, 2020 Fair Value Level 1 Level 2 Level 3 Non-recurring Impaired loans (excluding acquired impaired loans) Commercial real estate $ 41,135 $ — $ — $ 41,135 Residential real estate 1,752 — — 1,752 Commercial and industrial 28,508 — — 28,508 Assets held for sale 13,023 — — 13,023 Other real estate owned 6,350 — — 6,350 |
Summary of Estimated Fair Values of Financial Instruments | The estimated fair values of financial instruments not carried at fair value and levels within the fair value hierarchy are as follows: September 30, December 31, Fair Value 2021 2020 Hierarchy Carrying Estimated Carrying Estimated Financial assets Cash and due from banks 1 $ 46,900 $ 46,900 $ 41,432 $ 41,432 Interest bearing deposits with other banks 2 95,978 95,978 41,988 41,988 Securities held-to-maturity 2 3,887 4,033 4,395 4,573 Other restricted stock 2 15,927 15,927 10,507 10,507 Loans held for sale 3 48,372 54,739 7,924 8,848 Loans and lease receivables, net (less impaired 3 4,485,994 4,478,323 4,202,793 4,205,906 Accrued interest receivable 3 18,857 18,857 20,678 20,678 Financial liabilities Non-interest-bearing deposits 2 2,117,749 2,117,749 1,762,676 1,762,676 Interest-bearing deposits 2 3,040,529 3,041,101 2,989,355 2,990,735 Accrued interest payable 2 1,687 1,687 1,478 1,478 Paycheck Protection Program Liquidity Facility 2 156,404 156,404 371,907 371,907 Federal Home Loan Bank advances 2 355,000 355,000 234,000 234,000 Securities sold under repurchase agreement 2 27,715 27,715 41,994 41,994 Subordinated notes 2 73,473 83,291 73,342 76,627 Junior subordinated debentures 3 36,796 40,777 36,451 40,543 |
Derivative Instruments and He_2
Derivative Instruments and Hedge Activities (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | |
Summary of Derivative Financial Instruments and Classification on Consolidated Statements of Financial Condition | The following tables present the fair value of the Company’s derivative financial instruments and classification on the Consolidated Statements of Financial Condition as of September 30, 2021 and December 31, 2020: September 30, 2021 December 31, 2020 Fair Value Fair Value Notional Other Other Notional Other Other Derivatives designated as hedging instruments Interest rate swaps designated as cash flow 400,000 $ 1,799 $ ( 192 ) $ — $ — $ — Derivatives not designated as hedging Other interest rate derivatives 458,698 11,664 ( 12,148 ) 383,410 17,149 ( 18,116 ) Other credit derivatives 7,788 — ( 8 ) 8,437 — ( 17 ) Total derivatives $ 866,486 $ 13,463 $ ( 12,348 ) $ 391,847 $ 17,149 $ ( 18,133 ) |
Summary of Cash Flow Hedges | The following table reflects the cash flow hedges as of September 30, 2021: Notional amounts $ 400,000 Derivative assets fair value 1,799 Derivative liabilities fair value 192 Weighted average maturity 5.2 years The weighted average pay rates of the forward swaps are 0.98 % and weighted average receive rates will be determined at the time the forward swaps become effective. |
Summary of Net Gains (Losses) Recorded in Accumulated Other Comprehensive Income (Loss) and Consolidated Statements of Operations Relating to Cash Flow Derivative Instruments | The following table reflects the net gains (losses) recorded in accumulated other comprehensive income (loss) and the Consolidated Statements of Operations relating to the cash flow derivative instruments for the nine months ended: September 30, 2021 September 30, 2020 Amount of Amount of Amount of Amount of Amount of Amount of Interest rate swaps $ 1,606 $ ( 71 ) $ — $ — $ ( 64 ) $ — |
Summary of Other Interest Rate Derivatives | The following table reflects other interest rate derivatives as of September 30, 2021: Notional amounts $ 458,698 Derivative assets fair value 11,664 Derivative liabilities fair value 12,148 Weighted average pay rates 4.23 % Weighted average receive rates 3.03 % Weighted average maturity 5.6 years |
Summary of Amounts Included in Non-Interest Income in Consolidated Statements of Operations Relating to Derivative Instruments not Designated in Hedging Relationship | The following table reflects amounts included in non-interest income in the Consolidated Statements of Operations relating to derivative instruments that are not designated in a hedging relationship for the nine months ended September 30, 2021 and 2020: Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 Other interest rate derivatives $ 98 $ 113 $ 482 $ ( 627 ) Other credit derivatives 2 3 9 ( 8 ) Total $ 100 $ 116 $ 491 $ ( 635 ) |
Summary of Company's Interest Rate Derivative and Offsetting Positions | The table below summarizes the Company’s interest rate derivatives and offsetting positions as of: September 30, 2021 December 31, 2020 Derivative Derivative Derivative Derivative Gross amounts recognized $ 13,463 $ ( 12,348 ) $ 17,149 $ ( 18,133 ) Less: Amounts offset in the Consolidated Statements of — — — — Net amount presented in the Consolidated Statements of $ 13,463 $ ( 12,348 ) $ 17,149 $ ( 18,133 ) Gross amounts not offset in the Consolidated Statements of Offsetting derivative positions ( 1,814 ) 1,814 — — Collateral posted ( 11,649 ) 9,740 ( 17,149 ) 18,133 Net credit exposure $ — $ ( 794 ) $ — $ — |
Share-Based Compensation (Table
Share-Based Compensation (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
Summary of Stock Compensation Expense | The following table summarizes stock option compensation expense for the nine months ended September 30, 2021 and 2020: Nine Months Ended September 30, 2021 2020 Total share-based compensation - stock options $ — $ 7 Income tax benefit — 2 Unrecognized compensation expense - stock options — — Weighted-average amortization period remaining 0.0 years 0.0 years |
Restricted Shares | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
Summary of Stock Compensation Expense | The following table summarizes restricted stock compensation expense for the nine months ended September 30, 2021 and 2020: Nine Months Ended September 30, 2021 2020 Total share-based compensation - restricted stock $ 2,966 $ 2,019 Income tax benefit 826 562 Unrecognized compensation expense 7,840 5,566 Weighted-average amortization period remaining 2.4 years 2.4 years |
Omnibus Plan | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
Summary of Changes in Restricted Shares | The following table discloses the changes in restricted shares for the nine months ended September 30, 2021: Omnibus Plan Number of Shares Weighted Average Beginning balance, January 1, 2021 383,539 $ 18.75 Granted 308,452 19.38 Vested ( 103,187 ) 19.52 Forfeited ( 9,740 ) 20.58 Ending balance outstanding at September 30, 2021 579,064 $ 18.92 |
BYB Plan | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
Summary of Activity in shares Subjected to Options and Weighted Average Exercise Prices | The following table discloses the activity in shares subject to options and the weighted average exercise prices, in actual dollars, for the nine months ended September 30, 2021: BYB Plan Number of Shares Weighted Average Exercise Price Intrinsic Weighted Average Remaining Contractual Term (in Years) Beginning balance, January 1, 2021 1,390,579 $ 11.36 $ 5,724 4.4 Exercised ( 46,031 ) 13.66 $ 359 Expired — Ending balance outstanding at September 30, 2021 1,344,548 $ 11.28 $ 17,851 3.7 Exercisable at September 30, 2021 1,344,548 $ 11.28 $ 17,851 3.7 |
FEB Plan | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
Summary of Activity in shares Subjected to Options and Weighted Average Exercise Prices | The following table discloses the activity in shares subject to options under the FEB Plan and the weighted average exercise prices, in actual dollars, for the nine months ended September 30, 2021: FEB Plan Number of Shares Weighted Average Exercise Price Intrinsic Weighted Average Remaining Contractual Term (in Years) Beginning balance, January 1, 2021 233,630 $ 11.52 $ 918 3.3 Exercised ( 46,774 ) $ 11.55 $ 313 Expired — Ending balance outstanding at September 30, 2021 186,856 $ 11.52 $ 2,437 3.3 Exercisable at September 30, 2021 186,856 $ 11.52 $ 2,437 3.3 |
Earnings per Share (Tables)
Earnings per Share (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Earnings Per Share [Abstract] | |
Schedule of Calculation of Basic and Diluted Earnings per Share | The following represent the calculation of basic and diluted earnings per share for the periods presented: Three Months Ended Nine Months Ended 2021 2020 2021 2020 Net income $ 25,306 $ 13,071 $ 75,596 $ 25,176 Less: Dividends on preferred shares 196 196 587 587 Net income available to common stockholders $ 25,110 $ 12,875 $ 75,009 $ 24,589 Weighted-average common stock outstanding: Weighted-average common stock outstanding (basic) 37,200,778 38,057,350 37,773,350 37,973,694 Incremental shares 817,523 191,985 749,762 278,269 Weighted-average common stock outstanding (dilutive) 38,018,301 38,249,335 38,523,112 38,251,963 Basic earnings per common share $ 0.68 $ 0.34 $ 1.99 $ 0.65 Diluted earnings per common share $ 0.66 $ 0.34 $ 1.95 $ 0.64 |
Stockholders' Equity (Tables)
Stockholders' Equity (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Equity [Abstract] | |
Summary of Preferred and Common Stock | A summary of the Company’s preferred and common stock at September 30, 2021 and December 31, 2020 is as follows: September 30, December 31, 2021 2020 Series B 7.5 % fixed to floating non-cumulative Par value $ 0.01 $ 0.01 Shares authorized 50,000 50,000 Shares issued 10,438 10,438 Shares outstanding 10,438 10,438 Common stock, voting Par value $ 0.01 $ 0.01 Shares authorized 150,000,000 150,000,000 Shares issued 39,170,541 38,736,540 Shares outstanding 37,690,087 38,618,054 Treasury shares 1,480,454 118,486 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Accumulated Other Comprehensive Income (Loss) (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Accumulated Other Comprehensive Income Loss Net Of Tax [Abstract] | |
Schedule of Consolidated Statements of Changes in Accumulated Other Comprehensive Income (Loss) | The following table summarizes the changes in accumulated other comprehensive income (loss) for the nine months ended September 30, 2021 and 2020: (dollars in thousands) Unrealized Unrealized Gains Total Balance, January 1, 2020 $ ( 366 ) $ ( 334 ) $ ( 700 ) Other comprehensive income, net of tax 46 19,978 20,024 Balance, September 30, 2020 $ ( 320 ) $ 19,644 $ 19,324 Balance, January 1, 2021 $ ( 305 ) $ 18,352 $ 18,047 Other comprehensive income (loss), net of tax 1,211 ( 24,772 ) ( 23,561 ) Balance, September 30, 2021 $ 906 $ ( 6,420 ) $ ( 5,514 ) |
Basis of Presentation - Additio
Basis of Presentation - Additional Information (Details) | 9 Months Ended |
Sep. 30, 2021Segment | |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |
Number of reportable segments | 1 |
Accounting Pronouncements Rec_2
Accounting Pronouncements Recently Adopted or Issued - Additional Information (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Jan. 01, 2021 |
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | ||
Operating lease liabilities | $ 13,744 | |
ASU No. 2016-02 | ||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | ||
Operating right-of-use assets | $ 10,500 | |
Operating lease liabilities | $ 11,700 |
Securities - Summary of Amortiz
Securities - Summary of Amortized Cost and Fair Values of Securities Available-for-sale (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Schedule Of Available For Sale Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | $ 1,433,152 | $ 1,418,445 |
Available-for-sale Securities, Gross Unrealized Gains | 13,354 | 29,834 |
Available-for-sale Securities, Gross Unrealized Losses | (18,901) | (1,049) |
Available-for-sale Securities, Fair Value | 1,427,605 | 1,447,230 |
U.S. Treasury Notes | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | 8,487 | 23,468 |
Available-for-sale Securities, Gross Unrealized Gains | 91 | 344 |
Available-for-sale Securities, Gross Unrealized Losses | 0 | 0 |
Available-for-sale Securities, Fair Value | 8,578 | 23,812 |
U.S. Government Agencies | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | 124,244 | 113,088 |
Available-for-sale Securities, Gross Unrealized Gains | 885 | 600 |
Available-for-sale Securities, Gross Unrealized Losses | (1,865) | (137) |
Available-for-sale Securities, Fair Value | 123,264 | 113,551 |
Obligations of States, Municipalities, and Political Subdivisions | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | 101,499 | 135,513 |
Available-for-sale Securities, Gross Unrealized Gains | 3,725 | 6,991 |
Available-for-sale Securities, Gross Unrealized Losses | (164) | (85) |
Available-for-sale Securities, Fair Value | 105,060 | 142,419 |
Agency, Residential Mortgage-Backed Securities | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | 794,856 | 764,951 |
Available-for-sale Securities, Gross Unrealized Gains | 3,303 | 13,645 |
Available-for-sale Securities, Gross Unrealized Losses | (12,986) | (205) |
Available-for-sale Securities, Fair Value | 785,173 | 778,391 |
Non-Agency, Residential Mortgage-Backed Securities | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | 64,645 | 32,654 |
Available-for-sale Securities, Gross Unrealized Gains | 86 | 332 |
Available-for-sale Securities, Gross Unrealized Losses | (722) | (5) |
Available-for-sale Securities, Fair Value | 64,009 | 32,981 |
Agency, Commercial Mortgage-Backed Securities | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | 237,376 | 244,496 |
Available-for-sale Securities, Gross Unrealized Gains | 3,179 | 6,046 |
Available-for-sale Securities, Gross Unrealized Losses | (3,146) | (390) |
Available-for-sale Securities, Fair Value | 237,409 | 250,152 |
Corporate Securities | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | 64,842 | 59,020 |
Available-for-sale Securities, Gross Unrealized Gains | 2,002 | 1,850 |
Available-for-sale Securities, Gross Unrealized Losses | (17) | (102) |
Available-for-sale Securities, Fair Value | 66,827 | 60,768 |
Asset-Backed Securities | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | 37,203 | 45,255 |
Available-for-sale Securities, Gross Unrealized Gains | 83 | 26 |
Available-for-sale Securities, Gross Unrealized Losses | (1) | (125) |
Available-for-sale Securities, Fair Value | $ 37,285 | $ 45,156 |
Securities - Summary of Amort_2
Securities - Summary of Amortized Cost and Fair Values of Securities Held-to-maturity (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Schedule Of Held To Maturity Securities [Line Items] | ||
Held-to-maturity Securities, Amortized Cost | $ 3,887 | $ 4,395 |
Held-to-maturity Securities, Gross Unrealized Gains | 146 | 178 |
Held-to-maturity Securities, Gross Unrealized Losses | 0 | 0 |
Held-to-maturity Securities, Fair Value | 4,033 | 4,573 |
Obligations of States, Municipalities, and Political Subdivisions | ||
Schedule Of Held To Maturity Securities [Line Items] | ||
Held-to-maturity Securities, Amortized Cost | 3,887 | 4,395 |
Held-to-maturity Securities, Gross Unrealized Gains | 146 | 178 |
Held-to-maturity Securities, Gross Unrealized Losses | 0 | 0 |
Held-to-maturity Securities, Fair Value | $ 4,033 | $ 4,573 |
Securities - Additional Informa
Securities - Additional Information (Details) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2021USD ($)Security | Sep. 30, 2020USD ($) | Sep. 30, 2021USD ($)Security | Sep. 30, 2020USD ($) | Dec. 31, 2020USD ($) | |
Schedule Of Investments [Line Items] | |||||
Trading securities | $ 0 | $ 0 | |||
Net gains reclassified from accumulated other comprehensive income earnings | 130,000 | $ 1,000,000 | 1,500,000 | $ 2,400,000 | |
Investment securities posted as collateral | 361,000,000 | 361,000,000 | $ 731,800,000 | ||
Carrying amount of securities pledged as collateral | $ 361,000,000 | $ 361,000,000 | $ 323,900,000 | ||
Minimum | |||||
Schedule Of Investments [Line Items] | |||||
Percentage of shareholders equity for which securities holdings exceeds for no issuer other than U.S. Government and agencies | 10.00% | 10.00% | 10.00% | ||
Federal Home Loan Bank Advances | |||||
Schedule Of Investments [Line Items] | |||||
Carrying amount of securities pledged as collateral | $ 0 | $ 0 | $ 0 | ||
Public Fund Deposits | |||||
Schedule Of Investments [Line Items] | |||||
Carrying amount of securities pledged as collateral | 311,300,000 | 311,300,000 | 245,100,000 | ||
Customer Repurchase Agreements | |||||
Schedule Of Investments [Line Items] | |||||
Carrying amount of securities pledged as collateral | $ 38,700,000 | $ 38,700,000 | $ 64,100,000 | ||
Available-for-sale Securities | |||||
Schedule Of Investments [Line Items] | |||||
Investment securities with unrealized losses | Security | 97 | 97 | |||
Held-to-maturity Securities | |||||
Schedule Of Investments [Line Items] | |||||
Investment securities with unrealized losses | Security | 0 | 0 |
Securities - Summary of Gross U
Securities - Summary of Gross Unrealized Losses and Fair Values, Aggregated by Investment Category and Length of Individual Securities Continuous Unrealized Loss Position Available-for-sale (Details) $ in Thousands | Sep. 30, 2021USD ($)Security | Dec. 31, 2020USD ($)Security |
Schedule Of Available For Sale Securities [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Number of Securities | Security | 97 | 37 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | $ 822,458 | $ 170,971 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Unrealized Losses | (17,405) | (1,016) |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value | 48,269 | 5,424 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Unrealized Losses | (1,496) | (33) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Total Fair Value | 870,727 | 176,395 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Total Unrealized Losses | $ (18,901) | $ (1,049) |
U.S. Government Agencies | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Number of Securities | Security | 10 | 5 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | $ 74,687 | $ 30,639 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Unrealized Losses | (1,506) | (137) |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value | 9,641 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Unrealized Losses | (359) | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Total Fair Value | 84,328 | 30,639 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Total Unrealized Losses | $ (1,865) | $ (137) |
Obligations of States, Municipalities, and Political Subdivisions | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Number of Securities | Security | 7 | 2 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | $ 8,097 | $ 210 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Unrealized Losses | (164) | (85) |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value | 0 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Unrealized Losses | 0 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Total Fair Value | 8,097 | 210 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Total Unrealized Losses | $ (164) | $ (85) |
Agency, Residential Mortgage-Backed Securities | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Number of Securities | Security | 51 | 8 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | $ 620,325 | $ 45,253 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Unrealized Losses | (12,626) | (198) |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value | 11,805 | 472 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Unrealized Losses | (360) | (7) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Total Fair Value | 632,130 | 45,725 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Total Unrealized Losses | $ (12,986) | $ (205) |
Non-Agency, Residential Mortgage-Backed Securities | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Number of Securities | Security | 5 | 2 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | $ 34,310 | $ 3,963 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Unrealized Losses | (722) | (5) |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value | 0 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Unrealized Losses | 0 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Total Fair Value | 34,310 | 3,963 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Total Unrealized Losses | $ (722) | $ (5) |
Agency, Commercial Mortgage-Backed Securities | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Number of Securities | Security | 21 | 8 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | $ 75,001 | $ 55,554 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Unrealized Losses | (2,369) | (390) |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value | 26,823 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Unrealized Losses | (777) | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Total Fair Value | 101,824 | 55,554 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Total Unrealized Losses | $ (3,146) | $ (390) |
Corporate Securities | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Number of Securities | Security | 2 | 6 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | $ 5,041 | $ 10,916 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Unrealized Losses | (17) | (102) |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value | 0 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Unrealized Losses | 0 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Total Fair Value | 5,041 | 10,916 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Total Unrealized Losses | $ (17) | $ (102) |
Asset-Backed Securities | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Number of Securities | Security | 1 | 6 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | $ 4,997 | $ 24,436 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Unrealized Losses | (1) | (99) |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value | 0 | 4,952 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Unrealized Losses | 0 | (26) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Total Fair Value | 4,997 | 29,388 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Total Unrealized Losses | $ (1) | $ (125) |
Securities - Summary of Proceed
Securities - Summary of Proceeds From Sales of Securities Available-for-sale and Associated Gains and Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Available For Sale Securities Gross Realized Gain Loss [Abstract] | ||||
Proceeds | $ 0 | $ 35,092 | $ 186,850 | $ 80,509 |
Gross gains | 130 | 1,037 | 2,525 | 2,494 |
Gross losses | $ 0 | $ 0 | $ 1,069 | $ 82 |
Securities - Schedule of Amorti
Securities - Schedule of Amortized Cost and Fair Value of Debt Securities by Contractual Maturity (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Available-for-sale Securities Debt Maturities, Amortized Cost [Abstract] | ||
Available-for-sale Securities, Due in one year or less, Amortized Cost | $ 23,201 | |
Available-for-sale Securities, Due from one to five years, Amortized Cost | 26,476 | |
Available-for-sale Securities, Due from five to ten years, Amortized Cost | 209,435 | |
Available-for-sale Securities, Due after ten years, Amortized Cost | 77,163 | |
Available-for-sale Securities, Amortized Cost | 1,433,152 | $ 1,418,445 |
Held-to-maturity Securities Debt Maturities, Amortized Cost [Abstract] | ||
Held-to-maturity Securities, Due from one to five years, Amortized Cost | 3,887 | |
Held-to-maturity Securities, Amortized Cost | 3,887 | 4,395 |
Available-for-sale Securities Debt Maturities, Fair Value [Abstract] | ||
Available-for-sale Securities, Due in one year or less, Fair Value | 23,402 | |
Available-for-sale Securities, Due from one to five years, Fair Value | 27,466 | |
Available-for-sale Securities, Due from five to ten years, Fair Value | 211,691 | |
Available-for-sale Securities, Due after ten years, Fair Value | 78,455 | |
Available-for-sale Securities, Fair Value, Total | 1,427,605 | 1,447,230 |
Held-to-maturity Securities Debt Maturities, Fair Value [Abstract] | ||
Held-to-maturity Securities, Due from one to five years, Fair Value | 4,033 | |
Held-to-maturity securities, Fair Value, Total | 4,033 | $ 4,573 |
Mortgage-Backed Securities | ||
Available-for-sale Securities Debt Maturities, Amortized Cost [Abstract] | ||
Available-for-sale Securities, Not due at single maturity, Amortized Cost | 1,096,877 | |
Available-for-sale Securities Debt Maturities, Fair Value [Abstract] | ||
Available-for-sale Securities, Not due at single maturity, Fair Value | $ 1,086,591 |
Loan and Lease Receivables - Sc
Loan and Lease Receivables - Schedule of Outstanding Loan and Lease Receivables (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Jun. 30, 2021 | Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Dec. 31, 2019 |
Accounts Notes And Loans Receivable [Line Items] | ||||||
Total loans and leases | $ 4,610,440 | $ 4,342,453 | ||||
Net unamortized deferred fees and costs | (5,484) | (5,764) | ||||
Initial direct costs | 4,272 | 3,846 | ||||
Allowance for loan and lease losses | (60,598) | $ (61,719) | (66,347) | $ (61,258) | $ (51,300) | $ (31,936) |
Net loans and leases | 4,548,630 | 4,274,188 | ||||
Net minimum lease payments | 337,512 | 234,472 | ||||
Unguaranteed residual values | 22,338 | 8,690 | ||||
Unearned income | (25,366) | (19,867) | ||||
Total lease financing receivables | 334,484 | 223,295 | ||||
Initial direct costs | 4,272 | 3,846 | ||||
Lease financial receivables before allowance for lease losses | 338,756 | 227,141 | ||||
Commercial Real Estate | ||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||
Total loans and leases | 1,615,875 | 1,416,731 | ||||
Allowance for loan and lease losses | (20,372) | (19,541) | (19,584) | (18,984) | (14,110) | (7,965) |
Residential Real Estate | ||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||
Total loans and leases | 507,226 | 569,387 | ||||
Allowance for loan and lease losses | (1,076) | (1,364) | (2,400) | (3,790) | (3,741) | (1,990) |
Construction, Land Development, and Other Land | ||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||
Total loans and leases | 340,428 | 231,602 | ||||
Allowance for loan and lease losses | (558) | (619) | (1,352) | (1,872) | (1,491) | (610) |
Commercial and Industrial | ||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||
Total loans and leases | 1,535,412 | 1,372,452 | ||||
Allowance for loan and lease losses | (35,990) | (38,284) | (41,183) | (34,540) | (30,108) | (19,377) |
Paycheck Protection Program | ||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||
Total loans and leases | 275,619 | 527,044 | ||||
Allowance for loan and lease losses | 0 | 0 | 0 | 0 | 0 | 0 |
Installment and Other | ||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||
Total loans and leases | 1,396 | 1,942 | ||||
Allowance for loan and lease losses | (7) | (9) | (15) | (37) | (36) | (50) |
Lease Financing Receivables | ||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||
Total loans and leases | 334,484 | 223,295 | ||||
Allowance for loan and lease losses | $ (2,595) | $ (1,902) | $ (1,813) | $ (2,035) | $ (1,814) | $ (1,944) |
Loan and Lease Receivables - Ad
Loan and Lease Receivables - Additional Information (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Jun. 30, 2021 | Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Dec. 31, 2019 |
Accounts Notes And Loans Receivable [Line Items] | ||||||
Total loans and leases | $ 4,610,440 | $ 4,342,453 | ||||
Loans held for sale pledged as security for borrowings | 2,000,000 | 2,300,000 | ||||
Allowance for loan and lease losses | 60,598 | $ 61,719 | 66,347 | $ 61,258 | $ 51,300 | $ 31,936 |
Acquired Impaired Loans | ||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||
Allowance for loan and lease losses | 6,500 | |||||
Installment and Other | ||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||
Total loans and leases | 1,396 | 1,942 | ||||
Overdraft deposits reclassified as loans | 477,000 | 496,000,000 | ||||
Allowance for loan and lease losses | 7 | $ 9 | 15 | $ 37 | $ 36 | $ 50 |
U.S. Government Guaranteed Loans | ||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||
Total loans and leases | 396,600 | 635,000 | ||||
Discount on the unguaranteed portion of government guaranteed loans | $ 27,900 | $ 28,300 |
Loan and Lease Receivables - Su
Loan and Lease Receivables - Summary of Minimum Annual Lease Payments for Lease Financing Receivables (Details) $ in Thousands | Sep. 30, 2021USD ($) |
Receivables [Abstract] | |
2021 | $ 27,875 |
2022 | 110,733 |
2023 | 85,005 |
2024 | 59,682 |
2025 | 39,328 |
Thereafter | 14,889 |
Total | $ 337,512 |
Loan and Lease Receivables - _2
Loan and Lease Receivables - Summary of Balances for Each Respective Loan and Lease Category (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 | Sep. 30, 2020 |
Accounts Notes And Loans Receivable [Line Items] | |||
Total loans and leases | $ 4,609,228 | $ 4,340,535 | $ 4,374,517 |
Originated | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total loans and leases | 4,102,796 | 3,668,460 | |
Acquired Impaired | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total loans and leases | 155,280 | 201,817 | |
Acquired Non-Impaired | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total loans and leases | 351,152 | 470,258 | |
Commercial Real Estate | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total loans and leases | 1,618,378 | 1,421,670 | 1,347,855 |
Commercial Real Estate | Originated | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total loans and leases | 1,298,454 | 1,017,587 | |
Commercial Real Estate | Acquired Impaired | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total loans and leases | 84,821 | 108,484 | |
Commercial Real Estate | Acquired Non-Impaired | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total loans and leases | 235,103 | 295,599 | |
Residential Real Estate | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total loans and leases | 507,754 | 572,271 | 633,396 |
Residential Real Estate | Originated | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total loans and leases | 387,578 | 414,220 | |
Residential Real Estate | Acquired Impaired | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total loans and leases | 61,893 | 78,840 | |
Residential Real Estate | Acquired Non-Impaired | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total loans and leases | 58,283 | 79,211 | |
Construction, Land Development, and Other Land | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total loans and leases | 338,412 | 230,733 | 239,034 |
Construction, Land Development, and Other Land | Originated | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total loans and leases | 336,460 | 226,408 | |
Construction, Land Development, and Other Land | Acquired Impaired | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total loans and leases | 1,746 | 4,113 | |
Construction, Land Development, and Other Land | Acquired Non-Impaired | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total loans and leases | 206 | 212 | |
Commercial and Industrial | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total loans and leases | 1,536,405 | 1,368,900 | 1,328,809 |
Commercial and Industrial | Originated | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total loans and leases | 1,480,076 | 1,276,527 | |
Commercial and Industrial | Acquired Impaired | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total loans and leases | 6,651 | 10,178 | |
Commercial and Industrial | Acquired Non-Impaired | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total loans and leases | 49,678 | 82,195 | |
Paycheck Protection Program | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total loans and leases | 268,081 | 517,815 | 622,191 |
Paycheck Protection Program | Originated | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total loans and leases | 268,081 | 517,815 | |
Paycheck Protection Program | Acquired Impaired | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total loans and leases | 0 | 0 | |
Paycheck Protection Program | Acquired Non-Impaired | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total loans and leases | 0 | 0 | |
Installment and Other | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total loans and leases | 1,442 | 2,005 | 3,143 |
Installment and Other | Originated | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total loans and leases | 998 | 1,267 | |
Installment and Other | Acquired Impaired | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total loans and leases | 169 | 202 | |
Installment and Other | Acquired Non-Impaired | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total loans and leases | 275 | 536 | |
Lease Financing Receivables | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total loans and leases | 338,756 | 227,141 | $ 200,089 |
Lease Financing Receivables | Originated | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total loans and leases | 331,149 | 214,636 | |
Lease Financing Receivables | Acquired Impaired | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total loans and leases | 0 | 0 | |
Lease Financing Receivables | Acquired Non-Impaired | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total loans and leases | $ 7,607 | $ 12,505 |
Loan and Lease Receivables - _3
Loan and Lease Receivables - Summary of Outstanding Balance and Carrying Amount of All Acquired Impaired Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Acquired Impaired Loans | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Unpaid Principal Balance | $ 257,580 | $ 309,838 |
Carrying Value | 155,280 | 201,817 |
Commercial Real Estate | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Unpaid Principal Balance | 126,738 | 154,233 |
Carrying Value | 84,821 | 108,484 |
Residential Real Estate | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Unpaid Principal Balance | 108,560 | 126,086 |
Carrying Value | 61,893 | 78,840 |
Construction, Land Development, and Other Land | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Unpaid Principal Balance | 9,301 | 12,677 |
Carrying Value | 1,746 | 4,113 |
Commercial and Industrial | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Unpaid Principal Balance | 12,115 | 15,925 |
Carrying Value | 6,651 | 10,178 |
Installment and Other | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Unpaid Principal Balance | 866 | 917 |
Carrying Value | $ 169 | $ 202 |
Loan and Lease Receivables - _4
Loan and Lease Receivables - Summary of Changes in Accretable Yield for Acquired Impaired Loans (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Receivables [Abstract] | ||||
Beginning balance | $ 24,474 | $ 31,868 | $ 27,696 | $ 40,009 |
Accretion to interest income | (3,080) | (5,763) | (9,896) | (15,420) |
Reclassification from nonaccretable difference, net | 1,217 | 5,727 | 4,811 | 7,243 |
Ending balance | $ 22,611 | $ 31,832 | $ 22,611 | $ 31,832 |
Loan and Lease Receivables - _5
Loan and Lease Receivables - Schedule of Unpaid Principal Balance and Carrying Value for Acquired Non-impaired Loans and Leases (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 | Sep. 30, 2020 |
Accounts Notes And Loans Receivable [Line Items] | |||
Loans and leases | $ 4,609,228 | $ 4,340,535 | $ 4,374,517 |
Acquired Non-impaired Loans and Leases | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Unpaid Principal Balance | 358,792 | 481,612 | |
Loans and leases | 351,152 | 470,258 | |
Commercial Real Estate | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Loans and leases | 1,618,378 | 1,421,670 | 1,347,855 |
Commercial Real Estate | Acquired Non-impaired Loans and Leases | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Unpaid Principal Balance | 240,271 | 302,091 | |
Loans and leases | 235,103 | 295,599 | |
Residential Real Estate | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Loans and leases | 507,754 | 572,271 | 633,396 |
Residential Real Estate | Acquired Non-impaired Loans and Leases | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Unpaid Principal Balance | 58,858 | 80,104 | |
Loans and leases | 58,283 | 79,211 | |
Construction, Land Development, and Other Land | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Loans and leases | 338,412 | 230,733 | 239,034 |
Construction, Land Development, and Other Land | Acquired Non-impaired Loans and Leases | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Unpaid Principal Balance | 271 | 278 | |
Loans and leases | 206 | 212 | |
Commercial and Industrial | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Loans and leases | 1,536,405 | 1,368,900 | 1,328,809 |
Commercial and Industrial | Acquired Non-impaired Loans and Leases | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Unpaid Principal Balance | 51,468 | 84,608 | |
Loans and leases | 49,678 | 82,195 | |
Installment and Other | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Loans and leases | 1,442 | 2,005 | 3,143 |
Installment and Other | Acquired Non-impaired Loans and Leases | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Unpaid Principal Balance | 286 | 553 | |
Loans and leases | 275 | 536 | |
Lease Financing Receivables | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Loans and leases | 338,756 | 227,141 | $ 200,089 |
Lease Financing Receivables | Acquired Non-impaired Loans and Leases | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Unpaid Principal Balance | 7,638 | 13,978 | |
Loans and leases | $ 7,607 | $ 12,505 |
Allowance for Loan and Lease _3
Allowance for Loan and Lease Losses and Reserve for Unfunded Commitments - Summary of Allowance for Loan and Lease Losses and Corresponding Loan and Lease Balances (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | |
Financing Receivable Allowance For Credit Losses [Line Items] | |||||
Beginning balance | $ 61,719 | $ 51,300 | $ 66,347 | $ 31,936 | |
Provisions (recapture) | 352 | 15,740 | 2,750 | 45,713 | |
Charge-offs | 2,484 | 6,145 | 10,366 | 17,615 | |
Recoveries | 1,011 | 363 | 1,867 | 1,224 | |
Ending balance | 60,598 | 61,258 | 60,598 | 61,258 | |
Individually evaluated for impairment | 24,562 | 14,782 | 24,562 | 14,782 | |
Collectively evaluated for impairment | 31,761 | 41,445 | 31,761 | 41,445 | |
Allowance for loan and lease losses | 60,598 | 61,258 | 60,598 | 61,258 | $ 66,347 |
Individually evaluated for impairment | 87,198 | 77,890 | 87,198 | 77,890 | |
Collectively evaluated for impairment | 4,366,750 | 4,079,809 | 4,366,750 | 4,079,809 | |
Total loans and leases | 4,609,228 | 4,374,517 | 4,609,228 | 4,374,517 | 4,340,535 |
Loans Acquired with Deteriorated Credit Quality | |||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||
Loans acquired with deteriorated credit quality | 4,275 | 5,031 | 4,275 | 5,031 | |
Loans acquired with deteriorated credit quality | 155,280 | 216,818 | 155,280 | 216,818 | |
Commercial Real Estate | |||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||
Beginning balance | 19,541 | 14,110 | 19,584 | 7,965 | |
Provisions (recapture) | (1,108) | 6,421 | 2,891 | 14,149 | |
Charge-offs | 564 | 1,566 | 2,644 | 3,206 | |
Recoveries | 287 | 19 | 541 | 76 | |
Ending balance | 20,372 | 18,984 | 20,372 | 18,984 | |
Individually evaluated for impairment | 8,420 | 4,516 | 8,420 | 4,516 | |
Collectively evaluated for impairment | 9,314 | 11,825 | 9,314 | 11,825 | |
Allowance for loan and lease losses | 20,372 | 18,984 | 20,372 | 18,984 | 19,584 |
Individually evaluated for impairment | 45,563 | 39,001 | 45,563 | 39,001 | |
Collectively evaluated for impairment | 1,487,994 | 1,191,740 | 1,487,994 | 1,191,740 | |
Total loans and leases | 1,618,378 | 1,347,855 | 1,618,378 | 1,347,855 | 1,421,670 |
Commercial Real Estate | Loans Acquired with Deteriorated Credit Quality | |||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||
Loans acquired with deteriorated credit quality | 2,638 | 2,643 | 2,638 | 2,643 | |
Loans acquired with deteriorated credit quality | 84,821 | 117,114 | 84,821 | 117,114 | |
Residential Real Estate | |||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||
Beginning balance | 1,364 | 3,741 | 2,400 | 1,990 | |
Provisions (recapture) | (225) | 291 | (1,257) | 2,031 | |
Charge-offs | (65) | 250 | 76 | 259 | |
Recoveries | 2 | 8 | 9 | 28 | |
Ending balance | 1,076 | 3,790 | 1,076 | 3,790 | |
Individually evaluated for impairment | 0 | 77 | 0 | 77 | |
Collectively evaluated for impairment | 723 | 3,413 | 723 | 3,413 | |
Allowance for loan and lease losses | 1,076 | 3,790 | 1,076 | 3,790 | 2,400 |
Individually evaluated for impairment | 3,946 | 1,636 | 3,946 | 1,636 | |
Collectively evaluated for impairment | 441,915 | 547,563 | 441,915 | 547,563 | |
Total loans and leases | 507,754 | 633,396 | 507,754 | 633,396 | 572,271 |
Residential Real Estate | Loans Acquired with Deteriorated Credit Quality | |||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||
Loans acquired with deteriorated credit quality | 353 | 300 | 353 | 300 | |
Loans acquired with deteriorated credit quality | 61,893 | 84,197 | 61,893 | 84,197 | |
Construction, Land Development, and Other Land | |||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||
Beginning balance | 619 | 1,491 | 1,352 | 610 | |
Provisions (recapture) | (61) | 1,029 | (468) | 1,910 | |
Charge-offs | 0 | (701) | 326 | (701) | |
Recoveries | 0 | 53 | 0 | 53 | |
Ending balance | 558 | 1,872 | 558 | 1,872 | |
Individually evaluated for impairment | 0 | 0 | 0 | 0 | |
Collectively evaluated for impairment | 550 | 1,685 | 550 | 1,685 | |
Allowance for loan and lease losses | 558 | 1,872 | 558 | 1,872 | 1,352 |
Individually evaluated for impairment | 0 | 0 | 0 | 0 | |
Collectively evaluated for impairment | 336,666 | 234,230 | 336,666 | 234,230 | |
Total loans and leases | 338,412 | 239,034 | 338,412 | 239,034 | 230,733 |
Construction, Land Development, and Other Land | Loans Acquired with Deteriorated Credit Quality | |||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||
Loans acquired with deteriorated credit quality | 8 | 187 | 8 | 187 | |
Loans acquired with deteriorated credit quality | 1,746 | 4,804 | 1,746 | 4,804 | |
Commercial and Industrial | |||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||
Beginning balance | 38,284 | 30,108 | 41,183 | 19,377 | |
Provisions (recapture) | (1,218) | 7,603 | 226 | 26,844 | |
Charge-offs | 1,456 | 3,254 | 6,172 | 12,057 | |
Recoveries | 380 | 83 | 753 | 376 | |
Ending balance | 35,990 | 34,540 | 35,990 | 34,540 | |
Individually evaluated for impairment | 16,142 | 10,189 | 16,142 | 10,189 | |
Collectively evaluated for impairment | 18,572 | 22,450 | 18,572 | 22,450 | |
Allowance for loan and lease losses | 35,990 | 34,540 | 35,990 | 34,540 | 41,183 |
Individually evaluated for impairment | 37,689 | 37,253 | 37,689 | 37,253 | |
Collectively evaluated for impairment | 1,492,065 | 1,281,067 | 1,492,065 | 1,281,067 | |
Total loans and leases | 1,536,405 | 1,328,809 | 1,536,405 | 1,328,809 | 1,368,900 |
Commercial and Industrial | Loans Acquired with Deteriorated Credit Quality | |||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||
Loans acquired with deteriorated credit quality | 1,276 | 1,901 | 1,276 | 1,901 | |
Loans acquired with deteriorated credit quality | 6,651 | 10,489 | 6,651 | 10,489 | |
Paycheck Protection Program | |||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||
Beginning balance | 0 | 0 | 0 | 0 | |
Provisions (recapture) | 0 | 0 | 0 | 0 | |
Charge-offs | 0 | 0 | 0 | 0 | |
Recoveries | 0 | 0 | 0 | 0 | |
Ending balance | 0 | 0 | 0 | 0 | |
Individually evaluated for impairment | 0 | 0 | 0 | 0 | |
Collectively evaluated for impairment | 0 | 0 | 0 | 0 | |
Allowance for loan and lease losses | 0 | 0 | 0 | 0 | 0 |
Individually evaluated for impairment | 0 | 0 | 0 | 0 | |
Collectively evaluated for impairment | 268,081 | 622,191 | 268,081 | 622,191 | |
Total loans and leases | 268,081 | 622,191 | 268,081 | 622,191 | 517,815 |
Paycheck Protection Program | Loans Acquired with Deteriorated Credit Quality | |||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||
Loans acquired with deteriorated credit quality | 0 | 0 | 0 | 0 | |
Loans acquired with deteriorated credit quality | 0 | 0 | 0 | 0 | |
Installment and Other | |||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||
Beginning balance | 9 | 36 | 15 | 50 | |
Provisions (recapture) | (2) | (1) | (8) | (13) | |
Charge-offs | 0 | 0 | 0 | 0 | |
Recoveries | 0 | 0 | 0 | 0 | |
Ending balance | 7 | 37 | 7 | 37 | |
Individually evaluated for impairment | 0 | 0 | 0 | 0 | |
Collectively evaluated for impairment | 7 | 37 | 7 | 37 | |
Allowance for loan and lease losses | 7 | 37 | 7 | 37 | 15 |
Individually evaluated for impairment | 0 | 0 | 0 | 0 | |
Collectively evaluated for impairment | 1,273 | 2,929 | 1,273 | 2,929 | |
Total loans and leases | 1,442 | 3,143 | 1,442 | 3,143 | 2,005 |
Installment and Other | Loans Acquired with Deteriorated Credit Quality | |||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||
Loans acquired with deteriorated credit quality | 0 | 0 | 0 | 0 | |
Loans acquired with deteriorated credit quality | 169 | 214 | 169 | 214 | |
Lease Financing Receivables | |||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||
Beginning balance | 1,902 | 1,814 | 1,813 | 1,944 | |
Provisions (recapture) | 750 | 395 | 1,366 | 792 | |
Charge-offs | 399 | 374 | 1,148 | 1,392 | |
Recoveries | 342 | 200 | 564 | 691 | |
Ending balance | 2,595 | 2,035 | 2,595 | 2,035 | |
Individually evaluated for impairment | 0 | 0 | 0 | 0 | |
Collectively evaluated for impairment | 2,595 | 2,035 | 2,595 | 2,035 | |
Allowance for loan and lease losses | 2,595 | 2,035 | 2,595 | 2,035 | 1,813 |
Individually evaluated for impairment | 0 | 0 | 0 | 0 | |
Collectively evaluated for impairment | 338,756 | 200,089 | 338,756 | 200,089 | |
Total loans and leases | 338,756 | 200,089 | 338,756 | 200,089 | $ 227,141 |
Lease Financing Receivables | Loans Acquired with Deteriorated Credit Quality | |||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||
Loans acquired with deteriorated credit quality | 0 | 0 | 0 | 0 | |
Loans acquired with deteriorated credit quality | $ 0 | $ 0 | $ 0 | $ 0 |
Allowance for Loan and Lease _4
Allowance for Loan and Lease Losses and Reserve for Unfunded Commitments - Additional Information (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | |
Loans And Leases Receivable Disclosure [Line Items] | |||||
Increase (Recaptured) in allowance for loan and lease losses | $ (1,100,000) | $ 10,000,000 | $ (5,700,000) | $ 29,300,000 | |
Commitments outstanding on troubled debt restructurings | 0 | 0 | $ 0 | ||
Recorded investment in troubled debt restructurings that subsequently defaulted within twelve months | 0 | 0 | 0 | 0 | |
Reserve for unfunded commitments | 1,500,000 | 1,500,000 | $ 1,900,000 | ||
Provisions for (credits to) unfunded commitments | 79,000 | 519,000 | 363,000 | 1,200,000 | |
Charge-offs or recoveries related to reserve for unfunded commitments | 0 | 0 | |||
Acquired Impaired Loans | |||||
Loans And Leases Receivable Disclosure [Line Items] | |||||
Increase (Recaptured) in allowance for loan and lease losses | 405,000 | 295,000 | 2,200,000 | 2,300,000 | |
Individually Evaluated For Impairment | |||||
Loans And Leases Receivable Disclosure [Line Items] | |||||
Increase (Recaptured) in allowance for loan and lease losses | (1,000,000) | 768,000 | 602,000 | 4,100,000 | |
Collectively Evaluated For Impairment | |||||
Loans And Leases Receivable Disclosure [Line Items] | |||||
Increase (Recaptured) in allowance for loan and lease losses | $ (498,000) | $ 8,900,000 | $ (4,200,000) | $ 23,000,000 |
Allowance for Loan and Lease _5
Allowance for Loan and Lease Losses and Reserve for Unfunded Commitments - Summary of Recorded Investment, Unpaid Principal Balance, and Related Allowance for Loans and Leases Considered Impaired (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Financing Receivable Impaired [Line Items] | ||
Recorded Investment | $ 95,355 | |
Unpaid Principal Balance | 103,564 | |
Related Allowance | 23,960 | |
Loans Excluding Acquired Impaired Loans | ||
Financing Receivable Impaired [Line Items] | ||
Recorded Investment | $ 87,198 | |
Unpaid Principal Balance | 97,747 | |
Related Allowance | 24,562 | |
Loans Excluding Acquired Impaired Loans | Commercial Real Estate | ||
Financing Receivable Impaired [Line Items] | ||
Recorded Investment, With no related allowance recorded | 20,432 | 32,473 |
Recorded Investment, With an allowance recorded | 25,131 | 13,696 |
Unpaid Principal Balance, With no related allowance recorded | 25,512 | 34,792 |
Unpaid Principal Balance, With an allowance recorded | 26,569 | 14,919 |
Related Allowance | 8,420 | 5,034 |
Loans Excluding Acquired Impaired Loans | Residential Real Estate | ||
Financing Receivable Impaired [Line Items] | ||
Recorded Investment, With no related allowance recorded | 3,850 | 1,558 |
Recorded Investment, With an allowance recorded | 96 | 272 |
Unpaid Principal Balance, With no related allowance recorded | 3,901 | 1,644 |
Unpaid Principal Balance, With an allowance recorded | 152 | 274 |
Related Allowance | 0 | 78 |
Loans Excluding Acquired Impaired Loans | Commercial and Industrial | ||
Financing Receivable Impaired [Line Items] | ||
Recorded Investment, With no related allowance recorded | 14,212 | 17,944 |
Recorded Investment, With an allowance recorded | 23,477 | 29,412 |
Unpaid Principal Balance, With no related allowance recorded | 15,999 | 19,917 |
Unpaid Principal Balance, With an allowance recorded | 25,614 | 32,018 |
Related Allowance | $ 16,142 | $ 18,848 |
Allowance for Loan and Lease _6
Allowance for Loan and Lease Losses and Reserve for Unfunded Commitments - Summary of Average Recorded Investment and Interest Income Recognized for Loans and Leases Considered Impaired (Details) - Loans Excluding Acquired Impaired Loans - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Financing Receivable Impaired [Line Items] | ||
Average Recorded Investment | $ 104,548 | $ 79,242 |
Interest Income Recognized | 4,363 | 3,291 |
Commercial Real Estate | ||
Financing Receivable Impaired [Line Items] | ||
Average Recorded Investment, With no related allowance recorded | 28,480 | 22,511 |
Average Recorded Investment, With an allowance recorded | 27,620 | 13,329 |
Interest Income Recognized, With no related allowance recorded | 920 | 927 |
Interest Income Recognized, With an allowance recorded | 1,185 | 526 |
Residential Real Estate | ||
Financing Receivable Impaired [Line Items] | ||
Average Recorded Investment, With no related allowance recorded | 2,788 | 1,615 |
Average Recorded Investment, With an allowance recorded | 207 | 460 |
Interest Income Recognized, With no related allowance recorded | 109 | 26 |
Interest Income Recognized, With an allowance recorded | 2 | 21 |
Commercial and Industrial | ||
Financing Receivable Impaired [Line Items] | ||
Average Recorded Investment, With no related allowance recorded | 16,668 | 16,991 |
Average Recorded Investment, With an allowance recorded | 28,785 | 21,352 |
Interest Income Recognized, With no related allowance recorded | 481 | 493 |
Interest Income Recognized, With an allowance recorded | $ 1,666 | 1,078 |
Construction, Land Development, and Other Land | ||
Financing Receivable Impaired [Line Items] | ||
Average Recorded Investment, With no related allowance recorded | 2,984 | |
Interest Income Recognized, With no related allowance recorded | $ 220 |
Allowance for Loan and Lease _7
Allowance for Loan and Lease Losses and Reserve for Unfunded Commitments - Summary of Risk Rating Categories of Loans and Leases Considered for Inclusion in Allowance for Loan and Lease Losses Calculation (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 | Sep. 30, 2020 |
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | $ 4,609,228 | $ 4,340,535 | $ 4,374,517 |
Commercial Real Estate | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 1,618,378 | 1,421,670 | 1,347,855 |
Residential Real Estate | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 507,754 | 572,271 | 633,396 |
Construction, Land Development, and Other Land | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 338,412 | 230,733 | 239,034 |
Commercial and Industrial | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 1,536,405 | 1,368,900 | 1,328,809 |
Paycheck Protection Program | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 268,081 | 517,815 | 622,191 |
Installment and Other | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 1,442 | 2,005 | 3,143 |
Lease Financing Receivables | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 338,756 | 227,141 | $ 200,089 |
Loans Excluding Acquired Impaired Loans | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 4,453,948 | 4,138,718 | |
Loans Excluding Acquired Impaired Loans | Commercial Real Estate | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 1,533,557 | 1,313,186 | |
Loans Excluding Acquired Impaired Loans | Residential Real Estate | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 445,861 | 493,431 | |
Loans Excluding Acquired Impaired Loans | Construction, Land Development, and Other Land | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 336,666 | 226,620 | |
Loans Excluding Acquired Impaired Loans | Commercial and Industrial | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 1,529,754 | 1,358,722 | |
Loans Excluding Acquired Impaired Loans | Paycheck Protection Program | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 268,081 | 517,815 | |
Loans Excluding Acquired Impaired Loans | Installment and Other | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 1,273 | 1,803 | |
Loans Excluding Acquired Impaired Loans | Lease Financing Receivables | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 338,756 | 227,141 | |
Loans Excluding Acquired Impaired Loans | Pass | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 3,878,401 | 3,477,922 | |
Loans Excluding Acquired Impaired Loans | Pass | Commercial Real Estate | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 1,297,981 | 1,064,623 | |
Loans Excluding Acquired Impaired Loans | Pass | Residential Real Estate | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 422,843 | 463,103 | |
Loans Excluding Acquired Impaired Loans | Pass | Construction, Land Development, and Other Land | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 291,496 | 180,458 | |
Loans Excluding Acquired Impaired Loans | Pass | Commercial and Industrial | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 1,261,335 | 1,027,399 | |
Loans Excluding Acquired Impaired Loans | Pass | Paycheck Protection Program | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 268,081 | 517,815 | |
Loans Excluding Acquired Impaired Loans | Pass | Installment and Other | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 1,190 | 1,706 | |
Loans Excluding Acquired Impaired Loans | Pass | Lease Financing Receivables | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 335,475 | 222,818 | |
Loans Excluding Acquired Impaired Loans | Watch | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 394,339 | 428,702 | |
Loans Excluding Acquired Impaired Loans | Watch | Commercial Real Estate | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 143,047 | 134,381 | |
Loans Excluding Acquired Impaired Loans | Watch | Residential Real Estate | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 16,862 | 22,086 | |
Loans Excluding Acquired Impaired Loans | Watch | Construction, Land Development, and Other Land | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 37,795 | 46,162 | |
Loans Excluding Acquired Impaired Loans | Watch | Commercial and Industrial | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 196,288 | 225,930 | |
Loans Excluding Acquired Impaired Loans | Watch | Paycheck Protection Program | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 0 | 0 | |
Loans Excluding Acquired Impaired Loans | Watch | Installment and Other | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 83 | 96 | |
Loans Excluding Acquired Impaired Loans | Watch | Lease Financing Receivables | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 264 | 47 | |
Loans Excluding Acquired Impaired Loans | Special Mention | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 91,791 | 123,322 | |
Loans Excluding Acquired Impaired Loans | Special Mention | Commercial Real Estate | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 48,605 | 60,022 | |
Loans Excluding Acquired Impaired Loans | Special Mention | Residential Real Estate | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 3,036 | 3,795 | |
Loans Excluding Acquired Impaired Loans | Special Mention | Construction, Land Development, and Other Land | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 7,375 | 0 | |
Loans Excluding Acquired Impaired Loans | Special Mention | Commercial and Industrial | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 30,841 | 56,784 | |
Loans Excluding Acquired Impaired Loans | Special Mention | Paycheck Protection Program | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 0 | 0 | |
Loans Excluding Acquired Impaired Loans | Special Mention | Installment and Other | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 0 | 0 | |
Loans Excluding Acquired Impaired Loans | Special Mention | Lease Financing Receivables | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 1,934 | 2,721 | |
Loans Excluding Acquired Impaired Loans | Substandard | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 89,120 | 108,172 | |
Loans Excluding Acquired Impaired Loans | Substandard | Commercial Real Estate | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 43,924 | 54,160 | |
Loans Excluding Acquired Impaired Loans | Substandard | Residential Real Estate | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 3,120 | 4,447 | |
Loans Excluding Acquired Impaired Loans | Substandard | Construction, Land Development, and Other Land | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 0 | 0 | |
Loans Excluding Acquired Impaired Loans | Substandard | Commercial and Industrial | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 41,290 | 48,609 | |
Loans Excluding Acquired Impaired Loans | Substandard | Paycheck Protection Program | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 0 | 0 | |
Loans Excluding Acquired Impaired Loans | Substandard | Installment and Other | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 0 | 1 | |
Loans Excluding Acquired Impaired Loans | Substandard | Lease Financing Receivables | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 786 | 955 | |
Loans Excluding Acquired Impaired Loans | Doubtful | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 297 | 600 | |
Loans Excluding Acquired Impaired Loans | Doubtful | Commercial Real Estate | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 0 | 0 | |
Loans Excluding Acquired Impaired Loans | Doubtful | Residential Real Estate | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 0 | 0 | |
Loans Excluding Acquired Impaired Loans | Doubtful | Construction, Land Development, and Other Land | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 0 | 0 | |
Loans Excluding Acquired Impaired Loans | Doubtful | Commercial and Industrial | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 0 | 0 | |
Loans Excluding Acquired Impaired Loans | Doubtful | Paycheck Protection Program | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 0 | 0 | |
Loans Excluding Acquired Impaired Loans | Doubtful | Installment and Other | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 0 | 0 | |
Loans Excluding Acquired Impaired Loans | Doubtful | Lease Financing Receivables | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 297 | 600 | |
Loans Excluding Acquired Impaired Loans | Loss | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 0 | ||
Loans Excluding Acquired Impaired Loans | Loss | Commercial Real Estate | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 0 | 0 | |
Loans Excluding Acquired Impaired Loans | Loss | Residential Real Estate | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 0 | 0 | |
Loans Excluding Acquired Impaired Loans | Loss | Construction, Land Development, and Other Land | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 0 | 0 | |
Loans Excluding Acquired Impaired Loans | Loss | Commercial and Industrial | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 0 | 0 | |
Loans Excluding Acquired Impaired Loans | Loss | Paycheck Protection Program | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 0 | 0 | |
Loans Excluding Acquired Impaired Loans | Loss | Installment and Other | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | $ 0 | 0 | |
Loans Excluding Acquired Impaired Loans | Loss | Lease Financing Receivables | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | $ 0 |
Allowance for Loan and Lease _8
Allowance for Loan and Lease Losses and Reserve for Unfunded Commitments - Summary of Contractual Delinquency Information (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 | Sep. 30, 2020 |
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total loans and leases | $ 4,609,228 | $ 4,340,535 | $ 4,374,517 |
Commercial Real Estate | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total loans and leases | 1,618,378 | 1,421,670 | 1,347,855 |
Residential Real Estate | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total loans and leases | 507,754 | 572,271 | 633,396 |
Construction, Land Development, and Other Land | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total loans and leases | 338,412 | 230,733 | 239,034 |
Commercial and Industrial | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total loans and leases | 1,536,405 | 1,368,900 | 1,328,809 |
Paycheck Protection Program | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total loans and leases | 268,081 | 517,815 | 622,191 |
Installment and Other | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total loans and leases | 1,442 | 2,005 | 3,143 |
Lease Financing Receivables | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total loans and leases | 338,756 | 227,141 | $ 200,089 |
Acquired Non-Impaired and Originated Loans | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 42,700 | 55,716 | |
Non-accrual | 34,465 | 41,103 | |
Current | 4,411,248 | 4,083,002 | |
Total loans and leases | 4,453,948 | 4,138,718 | |
Acquired Non-Impaired and Originated Loans | 30-59 Days Past Due | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 6,117 | 8,753 | |
Acquired Non-Impaired and Originated Loans | 60-89 Days Past Due | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 2,118 | 5,860 | |
Acquired Non-Impaired and Originated Loans | Greater than 90 Days and Accruing | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 0 | 0 | |
Acquired Non-Impaired and Originated Loans | Commercial Real Estate | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 18,838 | 21,707 | |
Non-accrual | 17,082 | 15,969 | |
Current | 1,514,719 | 1,291,479 | |
Total loans and leases | 1,533,557 | 1,313,186 | |
Acquired Non-Impaired and Originated Loans | Commercial Real Estate | 30-59 Days Past Due | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 330 | 1,544 | |
Acquired Non-Impaired and Originated Loans | Commercial Real Estate | 60-89 Days Past Due | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 1,426 | 4,194 | |
Acquired Non-Impaired and Originated Loans | Commercial Real Estate | Greater than 90 Days and Accruing | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 0 | 0 | |
Acquired Non-Impaired and Originated Loans | Residential Real Estate | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 3,214 | 3,615 | |
Non-accrual | 2,127 | 1,929 | |
Current | 442,647 | 489,816 | |
Total loans and leases | 445,861 | 493,431 | |
Acquired Non-Impaired and Originated Loans | Residential Real Estate | 30-59 Days Past Due | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 1,087 | 1,686 | |
Acquired Non-Impaired and Originated Loans | Residential Real Estate | 60-89 Days Past Due | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 0 | ||
Acquired Non-Impaired and Originated Loans | Residential Real Estate | Greater than 90 Days and Accruing | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 0 | 0 | |
Acquired Non-Impaired and Originated Loans | Construction, Land Development, and Other Land | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 2,035 | 0 | |
Non-accrual | 0 | 0 | |
Current | 334,631 | 226,620 | |
Total loans and leases | 336,666 | 226,620 | |
Acquired Non-Impaired and Originated Loans | Construction, Land Development, and Other Land | 30-59 Days Past Due | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 2,035 | 0 | |
Acquired Non-Impaired and Originated Loans | Construction, Land Development, and Other Land | 60-89 Days Past Due | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 0 | 0 | |
Acquired Non-Impaired and Originated Loans | Construction, Land Development, and Other Land | Greater than 90 Days and Accruing | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 0 | 0 | |
Acquired Non-Impaired and Originated Loans | Commercial and Industrial | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 16,519 | 27,747 | |
Non-accrual | 14,272 | 21,936 | |
Current | 1,513,235 | 1,330,975 | |
Total loans and leases | 1,529,754 | 1,358,722 | |
Acquired Non-Impaired and Originated Loans | Commercial and Industrial | 30-59 Days Past Due | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 1,653 | 4,521 | |
Acquired Non-Impaired and Originated Loans | Commercial and Industrial | 60-89 Days Past Due | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 594 | 1,290 | |
Acquired Non-Impaired and Originated Loans | Commercial and Industrial | Greater than 90 Days and Accruing | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 0 | 0 | |
Acquired Non-Impaired and Originated Loans | Paycheck Protection Program | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 0 | ||
Non-accrual | 0 | ||
Current | 268,081 | 517,815 | |
Total loans and leases | 268,081 | 517,815 | |
Acquired Non-Impaired and Originated Loans | Paycheck Protection Program | 30-59 Days Past Due | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 0 | ||
Acquired Non-Impaired and Originated Loans | Paycheck Protection Program | 60-89 Days Past Due | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 0 | ||
Acquired Non-Impaired and Originated Loans | Paycheck Protection Program | Greater than 90 Days and Accruing | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 0 | ||
Acquired Non-Impaired and Originated Loans | Installment and Other | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 39 | 7 | |
Non-accrual | 0 | 1 | |
Current | 1,234 | 1,796 | |
Total loans and leases | 1,273 | 1,803 | |
Acquired Non-Impaired and Originated Loans | Installment and Other | 30-59 Days Past Due | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 39 | 6 | |
Acquired Non-Impaired and Originated Loans | Installment and Other | 60-89 Days Past Due | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 0 | 0 | |
Acquired Non-Impaired and Originated Loans | Installment and Other | Greater than 90 Days and Accruing | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 0 | 0 | |
Acquired Non-Impaired and Originated Loans | Lease Financing Receivables | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 2,055 | 2,640 | |
Non-accrual | 984 | 1,268 | |
Current | 336,701 | 224,501 | |
Total loans and leases | 338,756 | 227,141 | |
Acquired Non-Impaired and Originated Loans | Lease Financing Receivables | 30-59 Days Past Due | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 973 | 996 | |
Acquired Non-Impaired and Originated Loans | Lease Financing Receivables | 60-89 Days Past Due | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 98 | 376 | |
Acquired Non-Impaired and Originated Loans | Lease Financing Receivables | Greater than 90 Days and Accruing | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | $ 0 | $ 0 |
Allowance for Loan and Lease _9
Allowance for Loan and Lease Losses and Reserve for Unfunded Commitments - Summary of TDR's by Loan Category (Details) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021USD ($)Loan | Dec. 31, 2020USD ($)Loan | |
Financing Receivable Modifications [Line Items] | ||
Number of Loans | Loan | 16 | 30 |
Pre-Modification Outstanding Recorded Investment | $ 8,524 | |
Post-Modification Outstanding Recorded Investment | $ 4,213 | 8,145 |
Charge-offs | 739 | 379 |
Specific Reserves | $ 1,091 | $ 3,441 |
Accruing | ||
Financing Receivable Modifications [Line Items] | ||
Number of Loans | Loan | 10 | 12 |
Pre-Modification Outstanding Recorded Investment | $ 2,366 | $ 2,495 |
Post-Modification Outstanding Recorded Investment | 2,366 | 2,495 |
Specific Reserves | $ 272 | $ 182 |
Non-accruing | ||
Financing Receivable Modifications [Line Items] | ||
Number of Loans | Loan | 6 | 18 |
Pre-Modification Outstanding Recorded Investment | $ 2,586 | $ 6,029 |
Post-Modification Outstanding Recorded Investment | 1,847 | 5,650 |
Charge-offs | 739 | 379 |
Specific Reserves | 819 | $ 3,259 |
Commercial Real Estate | ||
Financing Receivable Modifications [Line Items] | ||
Pre-Modification Outstanding Recorded Investment | $ 4,952 | |
Commercial Real Estate | Accruing | ||
Financing Receivable Modifications [Line Items] | ||
Number of Loans | Loan | 7 | 8 |
Pre-Modification Outstanding Recorded Investment | $ 2,130 | $ 2,187 |
Post-Modification Outstanding Recorded Investment | 2,130 | 2,187 |
Specific Reserves | $ 209 | $ 104 |
Commercial Real Estate | Non-accruing | ||
Financing Receivable Modifications [Line Items] | ||
Number of Loans | Loan | 3 | 4 |
Pre-Modification Outstanding Recorded Investment | $ 856 | $ 1,609 |
Post-Modification Outstanding Recorded Investment | 740 | 1,362 |
Charge-offs | 116 | 247 |
Specific Reserves | $ 311 | $ 102 |
Commercial and Industrial | Accruing | ||
Financing Receivable Modifications [Line Items] | ||
Number of Loans | Loan | 1 | 1 |
Pre-Modification Outstanding Recorded Investment | $ 63 | $ 78 |
Post-Modification Outstanding Recorded Investment | 63 | 78 |
Specific Reserves | $ 63 | $ 78 |
Commercial and Industrial | Non-accruing | ||
Financing Receivable Modifications [Line Items] | ||
Number of Loans | Loan | 3 | 14 |
Pre-Modification Outstanding Recorded Investment | $ 1,730 | $ 4,420 |
Post-Modification Outstanding Recorded Investment | 1,107 | 4,288 |
Charge-offs | 623 | 132 |
Specific Reserves | $ 508 | $ 3,157 |
Residential Real Estate | Accruing | ||
Financing Receivable Modifications [Line Items] | ||
Number of Loans | Loan | 2 | 3 |
Pre-Modification Outstanding Recorded Investment | $ 173 | $ 230 |
Post-Modification Outstanding Recorded Investment | 173 | 230 |
Specific Reserves | $ 0 | $ 0 |
Allowance for Loan and Lease_10
Allowance for Loan and Lease Losses and Reserve for Unfunded Commitments - Summary of Loans Modified as Troubled Debt Restructurings (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Receivables [Abstract] | ||||
Beginning balance | $ 2,395 | $ 3,151 | $ 2,495 | $ 1,771 |
Additions | 0 | 604 | 281 | 604 |
Net payments | (29) | (1,462) | (410) | (1,538) |
Net transfers from non-accrual | 0 | 0 | 0 | 1,456 |
Ending balance | 2,366 | 2,293 | 2,366 | 2,293 |
Beginning balance | 4,441 | 7,449 | 5,650 | 8,800 |
Additions | 0 | 0 | 673 | 5,633 |
Net payments | (2,584) | (302) | (3,568) | (1,688) |
Charge-offs | (10) | (852) | (908) | (4,994) |
Net transfers to accrual | 0 | 0 | 0 | (1,456) |
Ending balance | 1,847 | 6,295 | 1,847 | 6,295 |
Total troubled debt restructurings | $ 4,213 | $ 8,588 | $ 4,213 | $ 8,588 |
Servicing Assets - Activity for
Servicing Assets - Activity for Servicing Assets and Related Changes in Fair Value (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Transfers And Servicing [Abstract] | ||||
Beginning balance | $ 24,683 | $ 18,351 | $ 22,042 | $ 19,471 |
Additions, net | 1,564 | 1,794 | 5,703 | 4,449 |
Changes in fair value | (2,650) | 1,122 | (4,148) | (2,653) |
Ending balance | $ 23,597 | $ 21,267 | $ 23,597 | $ 21,267 |
Servicing Assets - Unpaid Princ
Servicing Assets - Unpaid Principal Balances of Loans Serviced for Others (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Loan portfolios serviced for: | ||
Unpaid principal balances of loans serviced | $ 1,615,214 | $ 1,531,256 |
SBA guaranteed loans | ||
Loan portfolios serviced for: | ||
Unpaid principal balances of loans serviced | 1,471,367 | 1,395,713 |
USDA guaranteed loans | ||
Loan portfolios serviced for: | ||
Unpaid principal balances of loans serviced | $ 143,847 | $ 135,543 |
Servicing Assets - Additional I
Servicing Assets - Additional Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Accounts Notes And Loans Receivable [Line Items] | ||||
Changes in fair value of servicing assets | $ (2,650) | $ 1,122 | $ (4,148) | $ (2,653) |
Loan Servicing Revenue [Member] | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Fair value of servicing assets | $ 3,300 | $ 2,900 | $ 9,300 | $ 8,700 |
Other Real Estate Owned - Chang
Other Real Estate Owned - Change in Other Real Estate Owned (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Real Estate [Abstract] | ||||
Other real estate owned, beginning balance | $ 4,417 | $ 8,652 | $ 6,350 | $ 9,896 |
Net additions to OREO | 0 | 41 | 436 | 127 |
Proceeds from sales of OREO | (1,498) | (224) | (2,998) | (874) |
Gains on sales of OREO | 114 | (41) | 133 | 44 |
Valuation adjustments | 0 | (278) | (888) | (1,043) |
Other real estate owned, ending balance | $ 3,033 | $ 8,150 | $ 3,033 | $ 8,150 |
Other Real Estate Owned - Addit
Other Real Estate Owned - Additional Information (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Jun. 30, 2021 | Dec. 31, 2020 | Jun. 30, 2020 | Dec. 31, 2019 | |
Real Estate [Line Items] | ||||||||
Foreclosed real estate properties recorded as result of obtaining physical possession of property | $ 3,033,000 | $ 8,150,000 | $ 3,033,000 | $ 8,150,000 | $ 4,417,000 | $ 6,350,000 | $ 8,652,000 | $ 9,896,000 |
Residential consumer mortgage loans in process of foreclosure | 3,100,000 | 3,100,000 | 3,300,000 | |||||
Proceeds from sale of internally financed sales of OREO | 0 | $ 0 | 0 | $ 0 | ||||
Residential Real Estate | ||||||||
Real Estate [Line Items] | ||||||||
Foreclosed real estate properties recorded as result of obtaining physical possession of property | $ 0 | $ 0 | $ 0 |
Leases - Additional Information
Leases - Additional Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Leases [Abstract] | ||||
Lessor, Operating Lease Maturity Year | 2042 | |||
Weighted-average discount rate of operating leases | 0.85% | 0.85% | ||
Weighted average remaining life of operating leases | 6 years | 6 years | ||
Rental expenses | $ 1,200 | $ 1,600 | $ 4,000 | $ 4,900 |
Sublease Income | 166,000 | $ 184,000 | 479,000 | $ 549,000 |
Minimum rental to be received in future on subleases | $ 1,500 | $ 1,500 | ||
Sublease contract maturity year | 2026 |
Leases - Schedule of Operating
Leases - Schedule of Operating Lease Right-of-use Asset and Liability (Details) $ in Thousands | Sep. 30, 2021USD ($) |
Lessee Lease Description [Line Items] | |
Operating lease liabilities | $ 13,744 |
Accrued Interest Receivable and Other Assets | |
Lessee Lease Description [Line Items] | |
Operating right-of-use assets | 11,580 |
Accrued Interest Payable and Other Liabilities | |
Lessee Lease Description [Line Items] | |
Operating lease liabilities | $ 13,744 |
Leases - Schedule of Future Min
Leases - Schedule of Future Minimum Lease Payments for Operating Leases (Details) $ in Thousands | Sep. 30, 2021USD ($) |
Leases [Abstract] | |
2021 | $ 1,515 |
2022 | 3,618 |
2023 | 2,412 |
2024 | 2,194 |
2025 | 1,505 |
Thereafter | 3,108 |
Total undiscounted lease payments | 14,352 |
Less: imputed interest | (608) |
Net lease liabilities | $ 13,744 |
Goodwill, Core Deposit Intang_3
Goodwill, Core Deposit Intangible and Other Intangible Assets - Summary of Changes in Goodwill, Core Deposit Intangible Assets and Customer Relationship Intangible Assets (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Schedule Of Goodwill And Intangible Assets [Line Items] | ||||
Beginning balance, Goodwill | $ 148,353 | $ 148,353 | $ 148,353 | $ 148,353 |
Ending balance, Goodwill | 148,353 | 148,353 | 148,353 | 148,353 |
Amortization | (1,738) | (1,947) | (5,335) | (5,732) |
Core Deposits | ||||
Schedule Of Goodwill And Intangible Assets [Line Items] | ||||
Ending balance, Goodwill | 16,674 | 16,674 | ||
Beginning balance | 18,346 | 25,459 | 21,809 | 29,111 |
Amortization | (1,672) | (1,825) | (5,135) | (5,477) |
Ending balance | 16,674 | 23,634 | 16,674 | 23,634 |
Accumulated amortization | $ 38,792 | $ 31,832 | $ 38,792 | $ 31,832 |
Weighted average remaining amortization period | 5 years | 5 years 9 months 18 days | 5 years | 5 years 9 months 18 days |
Customer Relationships | ||||
Schedule Of Goodwill And Intangible Assets [Line Items] | ||||
Beginning balance | $ 2,335 | $ 2,658 | $ 2,469 | $ 2,791 |
Amortization | (66) | (122) | (200) | (255) |
Ending balance | 2,269 | 2,536 | 2,269 | 2,536 |
Accumulated amortization | $ 947 | $ 680 | $ 947 | $ 680 |
Weighted average remaining amortization period | 8 years 6 months | 9 years 8 months 12 days | 8 years 6 months | 9 years 8 months 12 days |
Goodwill, Core Deposit Intang_4
Goodwill, Core Deposit Intangible and Other Intangible Assets - Estimated Amortization Expense for Core Deposit Intangible and Customer Relationship Intangible Recognized (Details) $ in Thousands | Sep. 30, 2021USD ($) |
Goodwill And Intangible Assets Disclosure [Abstract] | |
2021 | $ 1,737 |
2022 | 6,386 |
2023 | 4,336 |
2024 | 2,286 |
2025 | 1,721 |
Thereafter | 2,477 |
Total | $ 18,943 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Details) - USD ($) | 9 Months Ended | ||||
Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2020 | |
Operating Loss Carryforwards [Line Items] | |||||
Effective tax rate | 25.30% | 28.50% | |||
Net income tax provision related to exercise of stock options | $ 166,000 | ||||
Net income tax benefit related to vesting of restricted shares | $ 231,000 | ||||
Deferred tax assets, net | 45,200,000 | $ 40,200,000 | |||
State and Local Jurisdiction | |||||
Operating Loss Carryforwards [Line Items] | |||||
Net operating loss carryforwards | $ 100,000 | ||||
Operating Loss Carryforwards Expiration Term | Dec. 31, 2033 | ||||
State and Local Jurisdiction | Forecast | |||||
Operating Loss Carryforwards [Line Items] | |||||
Net operating loss carryforwards | $ 100,000 | $ 100,000 |
Deposits - Composition of Depos
Deposits - Composition of Deposits (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Deposits [Abstract] | ||
Non-interest-bearing demand deposits | $ 2,117,749 | $ 1,762,676 |
Interest-bearing checking accounts | 652,824 | 494,424 |
Money market demand accounts | 1,057,419 | 1,142,709 |
Other savings | 627,294 | 564,700 |
Time deposits (below $250,000) | 553,364 | 600,810 |
Time deposits ($250,000 and above) | 149,628 | 186,712 |
Total deposits | $ 5,158,278 | $ 4,752,031 |
Deposits - Additional Informati
Deposits - Additional Information (Details) - USD ($) | Sep. 30, 2021 | Dec. 31, 2020 |
Deposits [Abstract] | ||
Time deposits | $ 250,000,000 | $ 35,000,000 |
Brokered deposits | $ 0 | $ 0 |
Other Borrowings - Summary of O
Other Borrowings - Summary of Other Borrowings (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Debt Disclosure [Abstract] | ||
Paycheck Protection Program Liquidity Facility | $ 156,404 | $ 371,907 |
Federal Home Loan Bank advances | 355,000 | 234,000 |
Securities sold under agreements to repurchase | 27,715 | 41,994 |
Line of credit | ||
Total | $ 539,119 | $ 647,901 |
Other Borrowings - Additional I
Other Borrowings - Additional Information (Details) - USD ($) | Oct. 08, 2021 | Apr. 21, 2020 | Oct. 10, 2019 | Sep. 30, 2021 | Dec. 31, 2020 | Oct. 13, 2016 |
Line Of Credit Facility [Line Items] | ||||||
Paycheck protection program liquidity facility | $ 156,404,000 | $ 371,907,000 | ||||
Federal Reserve Bank discount window borrowing | 0 | 0 | ||||
Federal Home Loan Bank advances | $ 355,000,000 | 234,000,000 | ||||
Federal home loan bank advances maximum borrowing capacity as percentage of total assets | 35.00% | |||||
Federal home loan bank, required investment conversion ratio | 4.50 | |||||
Line of credit facility, amount | ||||||
Minimum | ||||||
Line Of Credit Facility [Line Items] | ||||||
Federal home loan bank advances, Fixed interest rate | 0.00% | |||||
Federal home loan bank fixed rate advances, maturity date | 2021-11 | |||||
Maximum | ||||||
Line Of Credit Facility [Line Items] | ||||||
Federal home loan bank advances, Fixed interest rate | 22.00% | |||||
Federal home loan bank fixed rate advances, maturity date | 2022-05 | |||||
Federal Reserve Bank of Chicago Discount Window Line | ||||||
Line Of Credit Facility [Line Items] | ||||||
Paycheck protection program liquidity facility | $ 156,400,000 | |||||
Debt instrument, interest rate | 0.35% | |||||
Federal Reserve Bank of Chicago Discount Window Line | Minimum | ||||||
Line Of Credit Facility [Line Items] | ||||||
Line of credit facility, maturity month and year | 2022-04 | |||||
Federal Reserve Bank of Chicago Discount Window Line | Maximum | ||||||
Line Of Credit Facility [Line Items] | ||||||
Line of credit facility, maturity month and year | 2026-02 | |||||
Federal Reserve Bank of Chicago Discount Window Line | Letter Agreement | ||||||
Line Of Credit Facility [Line Items] | ||||||
Interest rate spread | 0.35% | |||||
Correspondent Bank | Credit agreement | Ridgestone | ||||||
Line Of Credit Facility [Line Items] | ||||||
Line of credit facility, amount | $ 30,000,000 | |||||
Correspondent Bank | Fourth Amendment Revolving Credit Agreement | Ridgestone | ||||||
Line Of Credit Facility [Line Items] | ||||||
Line of credit facility, amount | $ 15,000,000 | $ 0 | $ 0 | |||
Line of credit facility, extended maturity date | Oct. 7, 2022 | Oct. 9, 2020 | ||||
Line of credit facility, interest rate terms | The amended revolving line of credit bears interest at either the London Interbank Offered Rate (“LIBOR”) plus 195 basis points or the Prime Rate minus 75 basis points, not to be less than 2.00%, based on the Company’s election, which is required to be communicated at least three business days prior to the commencement of an interest period. If the Company fails to provide timely notification, the interest rate will be Prime Rate minus 75 basis points. At September 30, 2021 and December 31, 2020, the line of credit had no outstanding balance. | |||||
Correspondent Bank | Amended Credit Agreement | Ridgestone | LIBOR Rate | ||||||
Line Of Credit Facility [Line Items] | ||||||
Interest rate spread | 1.95% | |||||
Correspondent Bank | Amended Credit Agreement | Ridgestone | Prime Rate | ||||||
Line Of Credit Facility [Line Items] | ||||||
Interest rate spread | 0.75% |
Other Borrowings - Summary of S
Other Borrowings - Summary of Short-term Credit Lines Available for Use (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Federal Home Loan Bank Line | ||
Debt Instrument [Line Items] | ||
Short-term credit lines available for use | $ 1,910,295 | $ 2,016,212 |
Federal Reserve Bank of Chicago Discount Window Line | ||
Debt Instrument [Line Items] | ||
Short-term credit lines available for use | 622,306 | 874,677 |
Available Federal Funds Line | ||
Debt Instrument [Line Items] | ||
Short-term credit lines available for use | $ 115,000 | $ 115,000 |
Subordinated Notes and Junior_3
Subordinated Notes and Junior Subordinated Debentures - Additional Information (Details) - USD ($) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
Debt Instrument [Line Items] | ||
Principal amount | $ 45,000,000 | $ 45,000,000 |
Fixed-To-Floating Subordinate Notes Mature on July 1, 2030 | Subordinated Notes | ||
Debt Instrument [Line Items] | ||
Debt instrument, face amount | $ 75,000,000 | |
Debt instrument, interest rate | 6.00% | |
Debt instrument, maturity date | Jul. 1, 2030 | |
Debt instrument, redemption, description | As of September 30, 2021, the net liability outstanding of the subordinated notes was $73.5 million. The Company may, at its option, redeem the notes, in whole or in part, on a semi-annual basis beginning on July 1, 2025, subject to obtaining the prior approval of the Federal Reserve to the extent such approval is then required. | |
Debt issuance costs | $ 1,700,000 | |
Debt issuance costs, amortization period | 10 years | |
Net liability outstanding of subordinated notes | $ 73,500,000 | |
Fixed-To-Floating Subordinate Notes Mature on July 1, 2030 | Subordinated Notes | Three-Month Secured Overnight Financing Rate Plus 588 Basis Points | ||
Debt Instrument [Line Items] | ||
Debt instrument, description of variable rate basis | The subordinated notes bear a fixed interest rate of 6.00% until July 1, 2025 and a floating interest rate equal to a benchmark rate, which is expected to be the three-month Secured Overnight Financing Rate, plus 588 basis points thereafter until maturity. | |
Metropolitan Statutory Trust 1 | ||
Debt Instrument [Line Items] | ||
Principal amount | $ 35,000,000 | $ 35,000,000 |
Metropolitan Statutory Trust 1 | Junior Subordinated Debentures | ||
Debt Instrument [Line Items] | ||
Debt instrument, maturity date | Mar. 17, 2034 | |
Contractual rate | 2.91% | 3.02% |
Accrued interest payable | $ 41,000 | $ 45,000 |
Metropolitan Statutory Trust 1 | Junior Subordinated Debentures | Three-month LIBOR | ||
Debt Instrument [Line Items] | ||
Debt instrument, description of variable rate basis | Three-monthLIBOR + 2.79% | |
Interest rate spread | 2.79% | 2.79% |
First Evanston Bancorp Trust I | ||
Debt Instrument [Line Items] | ||
Principal amount | $ 10,000,000 | $ 10,000,000 |
First Evanston Bancorp Trust I | Junior Subordinated Debentures | ||
Debt Instrument [Line Items] | ||
Debt instrument, maturity date | Mar. 15, 2035 | |
Contractual rate | 1.90% | 2.00% |
Accrued interest payable | $ 8,000 | $ 9,000 |
First Evanston Bancorp Trust I | Junior Subordinated Debentures | Three-month LIBOR | ||
Debt Instrument [Line Items] | ||
Debt instrument, description of variable rate basis | Three-monthLIBOR + 1.78% | |
Interest rate spread | 1.78% | 1.78% |
Subordinated Notes and Junior_4
Subordinated Notes and Junior Subordinated Debentures - Junior Subordinated Debentures by Issuance (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
Shares Subject To Mandatory Redemption By Settlement Terms [Line Items] | ||
Total liability, at par | $ 45,000 | $ 45,000 |
Total liability, at carrying value | 36,796 | 36,451 |
Metropolitan Statutory Trust 1 | ||
Shares Subject To Mandatory Redemption By Settlement Terms [Line Items] | ||
Total liability, at par | 35,000 | 35,000 |
First Evanston Bancorp Trust I | ||
Shares Subject To Mandatory Redemption By Settlement Terms [Line Items] | ||
Total liability, at par | 10,000 | 10,000 |
Junior Subordinated Debentures | ||
Shares Subject To Mandatory Redemption By Settlement Terms [Line Items] | ||
Discount | $ (8,204) | $ (8,549) |
Junior Subordinated Debentures | Metropolitan Statutory Trust 1 | ||
Shares Subject To Mandatory Redemption By Settlement Terms [Line Items] | ||
Stated Maturity | Mar. 17, 2034 | |
Contractual Rate | 2.91% | 3.02% |
Junior Subordinated Debentures | Metropolitan Statutory Trust 1 | Three-month LIBOR | ||
Shares Subject To Mandatory Redemption By Settlement Terms [Line Items] | ||
Interest Rate Spread, Description | Three-monthLIBOR + 2.79% | |
Interest Rate Spread | 2.79% | 2.79% |
Junior Subordinated Debentures | First Evanston Bancorp Trust I | ||
Shares Subject To Mandatory Redemption By Settlement Terms [Line Items] | ||
Stated Maturity | Mar. 15, 2035 | |
Contractual Rate | 1.90% | 2.00% |
Junior Subordinated Debentures | First Evanston Bancorp Trust I | Three-month LIBOR | ||
Shares Subject To Mandatory Redemption By Settlement Terms [Line Items] | ||
Interest Rate Spread, Description | Three-monthLIBOR + 1.78% | |
Interest Rate Spread | 1.78% | 1.78% |
Commitments and Contingent Li_3
Commitments and Contingent Liabilities - Summary of Contract or Notional Amount of Outstanding Loan and Lease Commitments (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
Commitments And Contingencies Liabilities [Line Items] | ||
Fixed Rate | $ 174,501 | $ 106,835 |
Variable Rate | 1,579,465 | 1,319,992 |
Total | 1,753,966 | 1,426,827 |
Commitments to Extend Credit | ||
Commitments And Contingencies Liabilities [Line Items] | ||
Fixed Rate | 173,848 | 106,183 |
Variable Rate | 1,520,986 | 1,261,872 |
Total | 1,694,834 | 1,368,055 |
Letters of Credit | ||
Commitments And Contingencies Liabilities [Line Items] | ||
Fixed Rate | 653 | 652 |
Variable Rate | 58,479 | 58,120 |
Total | $ 59,132 | $ 58,772 |
Commitments and Contingent Li_4
Commitments and Contingent Liabilities - Additional Information (Details) | 9 Months Ended |
Sep. 30, 2021 | |
Commitments And Contingencies Liabilities [Line Items] | |
Fixed rate loan commitments maturity year | 2050 |
Variable rate loan commitments maturity year | 2044 |
Maximum | |
Commitments And Contingencies Liabilities [Line Items] | |
Commitments to make loans period | 90 days |
Loan commitments fixed interest rate | 18.00% |
Loan commitments variable interest rate | 8.25% |
Minimum | |
Commitments And Contingencies Liabilities [Line Items] | |
Loan commitments fixed interest rate | 1.25% |
Loan commitments variable interest rate | 1.25% |
Fair Value Measurement - Summar
Fair Value Measurement - Summary of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Jun. 30, 2021 | Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Dec. 31, 2019 |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||
Securities available-for-sale, at fair value | $ 1,427,605 | $ 1,447,230 | ||||
Equity and other securities, at fair value | 10,299 | 8,764 | ||||
Servicing assets, at fair value | 23,597 | $ 24,683 | 22,042 | $ 21,267 | $ 18,351 | $ 19,471 |
Derivative assets | 13,463 | 17,149 | ||||
Derivative liabilities | 12,348 | 18,133 | ||||
U.S. Treasury Notes | ||||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||
Securities available-for-sale, at fair value | 8,578 | 23,812 | ||||
U.S. Government Agencies | ||||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||
Securities available-for-sale, at fair value | 123,264 | 113,551 | ||||
Obligations of States, Municipalities, and Political Subdivisions | ||||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||
Securities available-for-sale, at fair value | 105,060 | 142,419 | ||||
Corporate Securities | ||||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||
Securities available-for-sale, at fair value | 66,827 | 60,768 | ||||
Asset-Backed Securities | ||||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||
Securities available-for-sale, at fair value | 37,285 | 45,156 | ||||
Fair Value, Measurements, Recurring | ||||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||
Servicing assets, at fair value | 23,597 | 22,042 | ||||
Derivative assets | 13,463 | 17,149 | ||||
Derivative liabilities | 12,348 | 18,133 | ||||
Fair Value, Measurements, Recurring | U.S. Treasury Notes | ||||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||
Securities available-for-sale, at fair value | 8,578 | 23,812 | ||||
Fair Value, Measurements, Recurring | U.S. Government Agencies | ||||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||
Securities available-for-sale, at fair value | 123,264 | 113,551 | ||||
Fair Value, Measurements, Recurring | Obligations of States, Municipalities, and Political Subdivisions | ||||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||
Securities available-for-sale, at fair value | 105,060 | 142,419 | ||||
Fair Value, Measurements, Recurring | Mortgage-Backed Securities; Residential | Agency | ||||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||
Securities available-for-sale, at fair value | 785,173 | 778,391 | ||||
Fair Value, Measurements, Recurring | Mortgage-Backed Securities; Residential | Non-Agency | ||||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||
Securities available-for-sale, at fair value | 64,009 | 32,981 | ||||
Fair Value, Measurements, Recurring | Mortgage-Backed Securities; Commercial | Agency | ||||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||
Securities available-for-sale, at fair value | 237,409 | 250,152 | ||||
Fair Value, Measurements, Recurring | Corporate Securities | ||||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||
Securities available-for-sale, at fair value | 66,827 | 60,768 | ||||
Fair Value, Measurements, Recurring | Asset-Backed Securities | ||||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||
Securities available-for-sale, at fair value | 37,285 | 45,156 | ||||
Fair Value, Measurements, Recurring | Mutual Funds | ||||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||
Equity and other securities, at fair value | 4,424 | 2,983 | ||||
Fair Value, Measurements, Recurring | Equity Securities | ||||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||
Equity and other securities, at fair value | 5,875 | 5,781 | ||||
Fair Value, Measurements, Recurring | Level 1 | U.S. Treasury Notes | ||||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||
Securities available-for-sale, at fair value | 8,578 | 23,812 | ||||
Fair Value, Measurements, Recurring | Level 1 | Mutual Funds | ||||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||
Equity and other securities, at fair value | 4,424 | 2,983 | ||||
Fair Value, Measurements, Recurring | Level 2 | ||||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||
Derivative assets | 13,463 | 17,149 | ||||
Derivative liabilities | 12,348 | 18,133 | ||||
Fair Value, Measurements, Recurring | Level 2 | U.S. Government Agencies | ||||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||
Securities available-for-sale, at fair value | 123,264 | 113,551 | ||||
Fair Value, Measurements, Recurring | Level 2 | Obligations of States, Municipalities, and Political Subdivisions | ||||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||
Securities available-for-sale, at fair value | 105,060 | 142,419 | ||||
Fair Value, Measurements, Recurring | Level 2 | Mortgage-Backed Securities; Residential | Agency | ||||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||
Securities available-for-sale, at fair value | 785,173 | 778,391 | ||||
Fair Value, Measurements, Recurring | Level 2 | Mortgage-Backed Securities; Residential | Non-Agency | ||||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||
Securities available-for-sale, at fair value | 64,009 | 32,981 | ||||
Fair Value, Measurements, Recurring | Level 2 | Mortgage-Backed Securities; Commercial | Agency | ||||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||
Securities available-for-sale, at fair value | 237,409 | 250,152 | ||||
Fair Value, Measurements, Recurring | Level 2 | Corporate Securities | ||||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||
Securities available-for-sale, at fair value | 66,827 | 60,768 | ||||
Fair Value, Measurements, Recurring | Level 2 | Asset-Backed Securities | ||||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||
Securities available-for-sale, at fair value | 37,285 | 45,156 | ||||
Fair Value, Measurements, Recurring | Level 2 | Equity Securities | ||||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||
Equity and other securities, at fair value | 5,189 | 5,096 | ||||
Fair Value, Measurements, Recurring | Level 3 | ||||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||
Servicing assets, at fair value | 23,597 | 22,042 | ||||
Fair Value, Measurements, Recurring | Level 3 | Equity Securities | ||||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||||
Equity and other securities, at fair value | $ 686 | $ 685 |
Fair Value Measurement - Additi
Fair Value Measurement - Additional Information (Details) - USD ($) | Sep. 30, 2021 | Sep. 30, 2020 |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Abstract] | ||
Fair value, assets, to or from level 3 transfers, amount | $ 0 | $ 0 |
Fair value, liabilities, to or from level 3 transfers, amount | 0 | 0 |
Fair value, equity, to or from level 3 transfers, amount | $ 0 | $ 0 |
Fair Value Measurement - Summ_2
Fair Value Measurement - Summary of Financial Assets Measured at Fair Value on Recurring Basis Using Significant Unobservable Inputs (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Investment Securities | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Balance, beginning of period | $ 685 | $ 700 |
Additions, net | 0 | 0 |
Change in fair value | 1 | (16) |
Balance, end of period | 686 | 684 |
Servicing Assets | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Balance, beginning of period | 22,042 | 19,471 |
Additions, net | 5,703 | 4,449 |
Change in fair value | (4,148) | (2,653) |
Balance, end of period | $ 23,597 | $ 21,267 |
Fair Value Measurement - Summ_3
Fair Value Measurement - Summary of Unobservable Inputs Used in the Fair Value Measurements on Recurring Basis (Details) - Fair Value, Measurements, Recurring - Level 3 | 9 Months Ended |
Sep. 30, 2021 | |
Single Issuer Trust Preferred | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |
Impact to Valuation from an Increased or Higher Input Value | Decrease |
Debt Instrument, Valuation Technique [Extensible List] | us-gaap:ValuationTechniqueDiscountedCashFlowMember |
Single Issuer Trust Preferred | Minimum | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |
Unobservable Inputs | 0.031 |
Single Issuer Trust Preferred | Maximum | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |
Unobservable Inputs | 0.064 |
Single Issuer Trust Preferred | Weighted Average | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |
Unobservable Inputs | 0.045 |
Servicing Assets | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |
Servicing Asset, Valuation Technique [Extensible List] | us-gaap:ValuationTechniqueDiscountedCashFlowMember |
Servicing Assets | Prepayment Speeds | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |
Impact to Valuation from an Increased or Higher Input Value | Decrease |
Servicing Assets | Prepayment Speeds | Minimum | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |
Unobservable Inputs | 0.005 |
Servicing Assets | Prepayment Speeds | Maximum | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |
Unobservable Inputs | 0.318 |
Servicing Assets | Prepayment Speeds | Weighted Average | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |
Unobservable Inputs | 0.143 |
Servicing Assets | Discount Rate | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |
Impact to Valuation from an Increased or Higher Input Value | Decrease |
Servicing Assets | Discount Rate | Minimum | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |
Unobservable Inputs | 0.030 |
Servicing Assets | Discount Rate | Maximum | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |
Unobservable Inputs | 0.500 |
Servicing Assets | Discount Rate | Weighted Average | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |
Unobservable Inputs | 0.081 |
Servicing Assets | Expected Weighted Average Loan life | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |
Impact to Valuation from an Increased or Higher Input Value | Increase |
Servicing Assets | Expected Weighted Average Loan life | Minimum | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |
Expected weighted average loan life | 2 months 12 days |
Servicing Assets | Expected Weighted Average Loan life | Maximum | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |
Expected weighted average loan life | 8 years 6 months |
Servicing Assets | Expected Weighted Average Loan life | Weighted Average | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |
Expected weighted average loan life | 3 years 10 months 24 days |
Fair Value Measurement - Summ_4
Fair Value Measurement - Summary of Assets Measured at Fair Value on Non-Recurring Basis, Excluding Acquired Impaired Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Commercial Real Estate | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Assets, Fair Value | $ 37,143 | $ 41,135 |
Residential Real Estate | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Assets, Fair Value | 3,946 | 1,752 |
Commercial and Industrial | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Assets, Fair Value | 21,547 | 28,508 |
Other Real Estate Owned | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Assets, Fair Value | 3,033 | 6,350 |
Assets Held For Sale | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Assets, Fair Value | 10,982 | 13,023 |
Level 3 | Commercial Real Estate | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Assets, Fair Value | 37,143 | 41,135 |
Level 3 | Residential Real Estate | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Assets, Fair Value | 3,946 | 1,752 |
Level 3 | Commercial and Industrial | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Assets, Fair Value | 21,547 | 28,508 |
Level 3 | Other Real Estate Owned | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Assets, Fair Value | 3,033 | 6,350 |
Level 3 | Assets Held For Sale | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Assets, Fair Value | $ 10,982 | $ 13,023 |
Fair Value Measurement - Summ_5
Fair Value Measurement - Summary of Estimated Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Financial assets | ||
Cash and due from banks | $ 46,900 | $ 41,432 |
Interest bearing deposits with other banks | 95,978 | 41,988 |
Securities held-to-maturity, fair value | 4,033 | 4,573 |
Restricted stock, at cost | 15,927 | 10,507 |
Loans held for sale | 48,372 | 7,924 |
Loans and lease receivables, net (less impaired loans at fair value | 4,548,630 | 4,274,188 |
Financial liabilities | ||
Paycheck Protection Program Liquidity Facility | 156,404 | 371,907 |
Federal Home Loan Bank advances | 355,000 | 234,000 |
Securities sold under agreements to repurchase | 27,715 | 41,994 |
Subordinated notes, net | 73,473 | 73,342 |
Junior subordinated debentures issued to capital trusts, net | 36,796 | 36,451 |
Level 1 | Carrying Amount | ||
Financial assets | ||
Cash and due from banks | 46,900 | 41,432 |
Level 1 | Estimate of Fair Value Measurement | ||
Financial assets | ||
Cash and due from banks | 46,900 | 41,432 |
Level 2 | Carrying Amount | ||
Financial assets | ||
Interest bearing deposits with other banks | 95,978 | 41,988 |
Securities held-to-maturity, fair value | 3,887 | 4,395 |
Restricted stock, at cost | 15,927 | 10,507 |
Financial liabilities | ||
Non-interest-bearing deposits | 2,117,749 | 1,762,676 |
Interest-bearing deposits | 3,040,529 | 2,989,355 |
Accrued interest payable | 1,687 | 1,478 |
Paycheck Protection Program Liquidity Facility | 156,404 | 371,907 |
Federal Home Loan Bank advances | 355,000 | 234,000 |
Securities sold under agreements to repurchase | 27,715 | 41,994 |
Subordinated notes, net | 73,473 | 73,342 |
Level 2 | Estimate of Fair Value Measurement | ||
Financial assets | ||
Interest bearing deposits with other banks | 95,978 | 41,988 |
Securities held-to-maturity, fair value | 4,033 | 4,573 |
Restricted stock, at cost | 15,927 | 10,507 |
Financial liabilities | ||
Non-interest-bearing deposits | 2,117,749 | 1,762,676 |
Interest-bearing deposits | 3,041,101 | 2,990,735 |
Accrued interest payable | 1,687 | 1,478 |
Paycheck Protection Program Liquidity Facility | 156,404 | 371,907 |
Federal Home Loan Bank advances | 355,000 | 234,000 |
Securities sold under agreements to repurchase | 27,715 | 41,994 |
Subordinated notes, net | 83,291 | 76,627 |
Level 3 | Carrying Amount | ||
Financial assets | ||
Loans held for sale | 48,372 | 7,924 |
Loans and lease receivables, net (less impaired loans at fair value | 4,485,994 | 4,202,793 |
Accrued interest receivable | 18,857 | 20,678 |
Financial liabilities | ||
Junior subordinated debentures issued to capital trusts, net | 36,796 | 36,451 |
Level 3 | Estimate of Fair Value Measurement | ||
Financial assets | ||
Loans held for sale | 54,739 | 8,848 |
Loans and lease receivables, net (less impaired loans at fair value | 4,478,323 | 4,205,906 |
Accrued interest receivable | 18,857 | 20,678 |
Financial liabilities | ||
Junior subordinated debentures issued to capital trusts, net | $ 40,777 | $ 40,543 |
Derivative Instruments and He_3
Derivative Instruments and Hedge Activities - Summary of Derivative Financial Instruments and Classification on Consolidated Statements of Financial Condition (Details) - USD ($) | Sep. 30, 2021 | Dec. 31, 2020 |
Derivatives Fair Value [Line Items] | ||
Notional Amount | $ 866,486,000 | $ 391,847,000 |
Other Assets | 13,463,000 | 17,149,000 |
Other Liabilities | (12,348,000) | (18,133,000) |
Cash Flow Hedging | ||
Derivatives Fair Value [Line Items] | ||
Notional Amount | 400,000,000 | |
Other Assets | 1,799,000 | |
Other Liabilities | (192,000) | |
Other Interest Rate Derivatives | ||
Derivatives Fair Value [Line Items] | ||
Notional Amount | 458,698,000 | |
Other Assets | 11,664,000 | |
Other Liabilities | (12,148,000) | |
Derivatives Designated as Hedging Instruments | Interest Rate Swaps | Cash Flow Hedging | ||
Derivatives Fair Value [Line Items] | ||
Notional Amount | 400,000,000 | 0 |
Other Assets | 1,799,000 | 0 |
Other Liabilities | 192,000 | 0 |
Derivatives Not Designated As Hedging Instruments | Other Credit Derivatives | ||
Derivatives Fair Value [Line Items] | ||
Notional Amount | 7,788,000 | 8,437,000 |
Other Assets | 0 | 0 |
Other Liabilities | 8,000 | 17,000 |
Derivatives Not Designated As Hedging Instruments | Other Interest Rate Derivatives | ||
Derivatives Fair Value [Line Items] | ||
Notional Amount | 458,698,000 | 383,410,000 |
Other Assets | 11,664,000 | 17,149,000 |
Other Liabilities | $ 12,148,000 | $ 18,116,000 |
Derivative Instruments and He_4
Derivative Instruments and Hedge Activities - Additional Information (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | |
Derivative [Line Items] | |||||
Derivative notional amount | $ 866,486,000 | $ 866,486,000 | $ 391,847,000 | ||
Interest recorded | 349,000 | $ 465,000 | 1,333,000 | $ 2,838,000 | |
Unrealized gain (loss) to be reclassified as an decrease to interest expense during the next twelve months | 868,000 | 868,000 | |||
Fair value of derivatives net liability position | 12,300,000 | 12,300,000 | |||
Collateral amount posted | 9,700,000 | 9,700,000 | |||
Offsetting derivative positions | 1,814,000 | 1,814,000 | |||
Interest Rate Swap | |||||
Derivative [Line Items] | |||||
Interest recorded | 29,000 | 22,000 | 71,000 | 64,000 | |
Other Interest Rate Derivatives | |||||
Derivative [Line Items] | |||||
Derivative notional amount | $ 458,698,000 | $ 458,698,000 | |||
Weighted average pay rates | 4.23% | 4.23% | |||
Derivative maturity date, start year | 2022-01 | ||||
Derivative maturity date, end year | 2031-09 | ||||
Derivative instruments transaction fees | $ 134,000 | $ 41,000 | $ 840,000 | $ 700,000 | |
Other Credit Derivatives | |||||
Derivative [Line Items] | |||||
Derivative notional amount | 7,800,000 | 7,800,000 | 8,400,000 | ||
Cash Flow Hedging | |||||
Derivative [Line Items] | |||||
Derivative notional amount | $ 400,000,000 | $ 400,000,000 | |||
Weighted average pay rates | 0.98% | 0.98% | |||
Designated as Hedging Instrument | Cash Flow Hedging | Interest Rate Swap | |||||
Derivative [Line Items] | |||||
Derivative notional amount | $ 400,000,000 | $ 400,000,000 | 0 | ||
Remaining balance in other comprehensive income | 253,000 | 253,000 | $ 304,000 | ||
Designated as Hedging Instrument | Cash Flow Hedging | Fixed Interest Rate Swaps Effective in March 2022 | |||||
Derivative [Line Items] | |||||
Derivative notional amount | 100,000,000 | 100,000,000 | |||
Designated as Hedging Instrument | Cash Flow Hedging | Fixed Interest Rate Swaps Effective in September 2022 | |||||
Derivative [Line Items] | |||||
Derivative notional amount | 50,000,000 | 50,000,000 | |||
Designated as Hedging Instrument | Cash Flow Hedging | Fixed Interest Rate Swaps Effective in March 2023 | |||||
Derivative [Line Items] | |||||
Derivative notional amount | 200,000,000 | 200,000,000 | |||
Designated as Hedging Instrument | Cash Flow Hedging | Fixed Interest Rate Swaps Effective in May 2023 | |||||
Derivative [Line Items] | |||||
Derivative notional amount | $ 50,000,000 | $ 50,000,000 |
Derivative Instruments and He_5
Derivative Instruments and Hedge Activities - Summary of Cash Flow Hedges (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2021 | Dec. 31, 2020 | |
Derivative [Line Items] | ||
Notional Amount | $ 866,486 | $ 391,847 |
Gross amounts recognized | 13,463 | 17,149 |
Derivative liabilities fair value | 12,348 | $ 18,133 |
Cash Flow Hedges | ||
Derivative [Line Items] | ||
Notional Amount | 400,000 | |
Gross amounts recognized | 1,799 | |
Derivative liabilities fair value | $ 192 | |
Weighted average pay rates | 0.98% | |
Weighted average maturity | 5 years 2 months 12 days |
Derivative Instruments and He_6
Derivative Instruments and Hedge Activities - Summary of Net Gains (Losses) Recorded in Accumulated Other Comprehensive Income (Loss) and Consolidated Statements of Operations (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2021 | Sep. 30, 2020 | |
Derivative [Line Items] | |||
Amount of Loss Recognized in OCI | $ 651 | $ 1,606 | |
Interest Rate Swap | |||
Derivative [Line Items] | |||
Amount of Loss Recognized in OCI | 1,606 | ||
Amount of Loss Reclassified from OCI to Income as an Increase to Interest Expense | (71) | (64) | |
Amount of Gain (Loss) Recognized in Other Non-Interest Income |
Derivative Instruments and He_7
Derivative Instruments and Hedge Activities - Summary of Other Interest Rate Derivatives (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2021 | Dec. 31, 2020 | |
Derivative [Line Items] | ||
Notional Amount | $ 866,486 | $ 391,847 |
Gross amounts recognized | 13,463 | 17,149 |
Derivative liabilities fair value | (12,348) | $ (18,133) |
Other Interest Rate Derivatives | ||
Derivative [Line Items] | ||
Notional Amount | 458,698 | |
Gross amounts recognized | 11,664 | |
Derivative liabilities fair value | $ (12,148) | |
Weighted average pay rates | 4.23% | |
Weighted average receive rates | 3.03% | |
Weighted average maturity | 5 years 7 months 6 days |
Derivative Instruments and He_8
Derivative Instruments and Hedge Activities - Summary of Amounts Included in Non-Interest Income in Consolidated Statements of Operations (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Derivative [Line Items] | ||||
Amounts relating to derivative instruments, not designated in hedging relationship | $ 100 | $ 116 | $ 491 | $ (635) |
Other Credit Derivatives | ||||
Derivative [Line Items] | ||||
Amounts relating to derivative instruments, not designated in hedging relationship | 2 | 3 | 9 | (8) |
Other Interest Rate Derivatives | ||||
Derivative [Line Items] | ||||
Amounts relating to derivative instruments, not designated in hedging relationship | $ 98 | $ 113 | $ 482 | $ (627) |
Derivative Instruments and He_9
Derivative Instruments and Hedge Activities - Summary of Company's Interest Rate Derivative and Offsetting Positions (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | ||
Gross amounts recognized | $ 13,463 | $ 17,149 |
Less: Amounts offset in the Consolidated Statements of Financial Condition | ||
Net amount presented in the Consolidated Statements of Financial Condition | 13,463 | 17,149 |
Gross amounts not offset in the Consolidated Statements of Financial Condition | ||
Offsetting derivative positions | (1,814) | |
Collateral posted | (11,649) | (17,149) |
Net credit exposure | ||
Derivative liabilities fair value | (12,348) | (18,133) |
Less: Amounts offset in the Consolidated Statements of Financial Condition | ||
Net amount presented in the Consolidated Statements of Financial Condition | (12,348) | (18,133) |
Gross amounts not offset in the Consolidated Statements of Financial Condition | ||
Offsetting derivative positions | 1,814 | |
Collateral posted | 9,740 | 18,133 |
Net credit exposure | $ (794) |
Share-Based Compensation - Addi
Share-Based Compensation - Additional Information (Details) - USD ($) | 1 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||||
Feb. 28, 2021 | Oct. 30, 2014 | Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Sep. 30, 2021 | Dec. 31, 2020 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Jun. 30, 2017 | Oct. 31, 2014 | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||||||||||||||
Common stock, voting par value | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.01 | ||||||||||||
Unrecognized stock option compensation expenses | $ 0 | $ 0 | $ 0 | |||||||||||||
Common Stock | ||||||||||||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||||||||||||||
Stock Issued During Period Shares Stock Options Exercised | 25,866 | 11,031 | 55,908 | 49,138 | 165,375 | 5,196 | 55,402 | |||||||||
Restricted Shares | ||||||||||||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||||||||||||||
Unrecognized stock option compensation expenses | $ 7,840,000 | $ 5,566,000 | $ 7,840,000 | |||||||||||||
Omnibus Plan | ||||||||||||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||||||||||||||
Number of common stock reserved for issuance | 1,550,000 | |||||||||||||||
Number of common shares available for future grants | 698,331 | 698,331 | ||||||||||||||
Omnibus Plan | Restricted Shares | ||||||||||||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||||||||||||||
Shares of restricted voting common stock granted | 308,452 | |||||||||||||||
Restricted shares vested | 103,187 | 113,264 | ||||||||||||||
Fair value of restricted shares, vested | $ 2,200,000 | $ 1,400,000 | ||||||||||||||
Fair value of unvested restricted stock awards | $ 14,200 | $ 14,200 | ||||||||||||||
Omnibus Plan | Restricted Shares | Common Stock | ||||||||||||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||||||||||||||
Shares of restricted voting common stock granted | 308,452 | |||||||||||||||
Common stock, voting par value | $ 0.01 | $ 0.01 | ||||||||||||||
Restricted shares vested | 130 | |||||||||||||||
Omnibus Plan | Restricted Shares | Common Stock | Each Anniversary of Grant Date Over Four Years | ||||||||||||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||||||||||||||
Shares vest on grant date | 119,344 | |||||||||||||||
Award vesting period | 4 years | |||||||||||||||
Omnibus Plan | Restricted Shares | Common Stock | Last Business Day of Grant Vest Over Three Years | ||||||||||||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||||||||||||||
Shares vest on grant date | 109,475 | |||||||||||||||
Omnibus Plan | Restricted Shares | Common Stock | Each Anniversary of Grant Date Vest Over Three Years | ||||||||||||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||||||||||||||
Shares vest on grant date | 38,279 | |||||||||||||||
Award vesting period | 3 years | |||||||||||||||
Omnibus Plan | Restricted Shares | Common Stock | Third Anniversary of Grant Date | ||||||||||||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||||||||||||||
Shares vest on grant date | 9,141 | |||||||||||||||
Omnibus Plan | Performance-based Restricted Shares | ||||||||||||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||||||||||||||
Shares of restricted voting common stock granted | 32,083 | 103,187 | ||||||||||||||
Period for number of shares earned under return on average assets | 3 years | |||||||||||||||
BYB Plan | ||||||||||||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||||||||||||||
Number of common shares available for future grants | 0 | |||||||||||||||
Number of options granted | 0 | 212,400 | 1,634,568 | |||||||||||||
Number of shares outstanding | 1,344,548 | 1,390,579 | 1,344,548 | 1,390,579 | ||||||||||||
Stock Issued During Period Shares Stock Options Exercised | 46,031 | 19,496 | ||||||||||||||
Proceeds from the exercise of stock options | $ 629,000,000 | $ 253,000,000 | ||||||||||||||
Tax benefit from exercise of stock options | $ 100,000,000 | $ 39,000,000 | ||||||||||||||
Options vested | 0 | |||||||||||||||
BYB Plan | Maximum | ||||||||||||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||||||||||||||
Number of common shares available for future grants | 2,476,122 | |||||||||||||||
BYB Plan | Time Options Grants | ||||||||||||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||||||||||||||
Award contractual term | 10 years | |||||||||||||||
BYB Plan | Time Options Grants | Maximum | ||||||||||||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||||||||||||||
Award vesting period | 5 years | |||||||||||||||
BYB Plan | Time Options Grants | Minimum | ||||||||||||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||||||||||||||
Award vesting period | 1 year | |||||||||||||||
BYB Plan | Performance Options Grants | ||||||||||||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||||||||||||||
Award contractual term | 10 years | |||||||||||||||
BYB Plan | Performance Options Grants | Maximum | ||||||||||||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||||||||||||||
Award vesting period | 5 years | |||||||||||||||
BYB Plan | Performance Options Grants | Minimum | ||||||||||||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||||||||||||||
Award vesting period | 1 year | |||||||||||||||
FEB Plan | ||||||||||||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||||||||||||||
Number of shares outstanding | 186,856 | 233,630 | 186,856 | 233,630 | ||||||||||||
Stock Issued During Period Shares Stock Options Exercised | 46,774 | 255,615 | ||||||||||||||
Proceeds from the exercise of stock options | $ 540,000,000 | $ 2,800,000 | ||||||||||||||
Tax benefit from exercise of stock options | $ 87,000,000 | $ 219,000,000 | ||||||||||||||
Options vested | 0 | 0 | ||||||||||||||
Conversion calculation percentage | 4.725% | 4.725% |
Share-Based Compensation - Summ
Share-Based Compensation - Summary of Changes in Restricted Shares (Details) - Omnibus Plan - Restricted Shares - $ / shares | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||
Number of shares, beginning balance | 383,539 | |
Number of shares, granted | 308,452 | |
Number of shares, vested | (103,187) | (113,264) |
Number of shares, forfeited | (9,740) | |
Number of shares, ending balance | 579,064 | 383,539 |
Weighted average grant date fair value, beginning balance | $ 18.75 | |
Weighted average grant date fair value, granted | 19.38 | |
Weighted average grant date fair value, vested | 19.52 | |
Weighted average grant date fair value, forfeited | 20.58 | |
Weighted average grant date fair value, ending balance | $ 18.92 | $ 18.75 |
Share-Based Compensation - Su_2
Share-Based Compensation - Summary of Stock Compensation Expense (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items] | ||
Total share-based compensation (benefit) - stock options | $ 0 | $ 7 |
Income tax benefit (expense) | 0 | 2 |
Unrecognized compensation expense | $ 0 | $ 0 |
Weighted-average amortization period remaining | 0 years | 0 years |
Restricted Shares | ||
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items] | ||
Total share-based compensation - restricted stock | $ 2,966 | $ 2,019 |
Income tax benefit | 826 | 562 |
Unrecognized compensation expense | $ 7,840 | $ 5,566 |
Weighted-average amortization period remaining | 2 years 4 months 24 days | 2 years 4 months 24 days |
Share-Based Compensation - Su_3
Share-Based Compensation - Summary Activity in shares Subjected to Options and Weighted Average Exercise Prices (Details) $ / shares in Units, $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021USD ($)$ / sharesshares | Dec. 31, 2020USD ($)$ / sharesshares | |
BYB Plan | ||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||
Number of Shares, Beginning balance | 1,390,579 | |
Number of Shares, Exercised | (46,031) | (19,496) |
Number of Shares, Expired | 0 | |
Number of Shares, Ending balance | 1,344,548 | 1,390,579 |
Number of Shares, Exercisable | 1,344,548 | |
Weighted Average Exercise Price, Beginning balance | $ / shares | $ 11.36 | |
Weighted Average Exercise Price, Exercised | $ / shares | 13.66 | |
Weighted Average Exercise Price, Ending balance | $ / shares | 11.28 | $ 11.36 |
Weighted Average Exercise Price, Exercisable | $ / shares | $ 11.28 | |
Intrinsic Value, Beginning balance | $ | $ 5,724 | |
Intrinsic Value, Exercised | $ | 359 | |
Intrinsic Value, Ending balance | $ | 17,851 | $ 5,724 |
Intrinsic Value, Exercisable | $ | $ 17,851 | |
Weighted Average Remaining Contractual Term (in Years) | 3 years 8 months 12 days | 4 years 4 months 24 days |
Weighted Average Remaining Contractual Term (in Years), Exercisable | 3 years 8 months 12 days | |
FEB Plan | ||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||
Number of Shares, Beginning balance | 233,630 | |
Number of Shares, Exercised | (46,774) | (255,615) |
Number of Shares, Expired | 0 | |
Number of Shares, Ending balance | 186,856 | 233,630 |
Number of Shares, Exercisable | 186,856 | |
Weighted Average Exercise Price, Beginning balance | $ / shares | $ 11.52 | |
Weighted Average Exercise Price, Exercised | $ / shares | 11.55 | |
Weighted Average Exercise Price, Ending balance | $ / shares | 11.52 | $ 11.52 |
Weighted Average Exercise Price, Exercisable | $ / shares | $ 11.52 | |
Intrinsic Value, Beginning balance | $ | $ 918 | |
Intrinsic Value, Exercised | $ | 313 | |
Intrinsic Value, Ending balance | $ | 2,437 | $ 918 |
Intrinsic Value, Exercisable | $ | $ 2,437 | |
Weighted Average Remaining Contractual Term (in Years) | 3 years 3 months 18 days | 3 years 3 months 18 days |
Weighted Average Remaining Contractual Term (in Years), Exercisable | 3 years 3 months 18 days |
Earnings per Share - Additional
Earnings per Share - Additional Information (Details) - shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Earnings Per Share Basic [Line Items] | ||||
Shares outstanding | 37,200,778 | 38,057,350 | 37,773,350 | 37,973,694 |
Common Stock | ||||
Earnings Per Share Basic [Line Items] | ||||
Shares outstanding | 1,531,404 | 1,676,371 | ||
Restricted Stock Award | ||||
Earnings Per Share Basic [Line Items] | ||||
Shares outstanding | 579,064 | 392,439 | ||
Stock Options | ||||
Earnings Per Share Basic [Line Items] | ||||
Shares outstanding | 0 | 105,657 | 0 | 50,000 |
Earnings per Share - Schedule o
Earnings per Share - Schedule of Calculation of Basic and Diluted Earnings per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | 9 Months Ended | |||||||
Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2021 | Sep. 30, 2021 | Sep. 30, 2020 | |
Earnings Per Share [Abstract] | ||||||||||
Net income | $ 25,306 | $ 28,492 | $ 21,798 | $ 12,291 | $ 13,071 | $ 9,139 | $ 2,966 | $ 75,596 | $ 25,176 | |
Dividends on preferred shares | 196 | 196 | 587 | 587 | ||||||
INCOME AVAILABLE TO COMMON STOCKHOLDERS | $ 25,110 | $ 12,875 | $ 75,009 | $ 24,589 | ||||||
Weighted-average common stock outstanding: | ||||||||||
Weighted-average common stock outstanding (basic) | 37,200,778 | 38,057,350 | 37,773,350 | 37,973,694 | ||||||
Incremental shares | 817,523 | 191,985 | 749,762 | 278,269 | ||||||
Weighted-average common stock outstanding (dilutive) | 38,018,301 | 38,249,335 | 38,523,112 | 38,251,963 | ||||||
Basic earnings per common share | $ 0.68 | $ 0.34 | $ 1.99 | $ 0.65 | ||||||
Diluted earnings per common share | $ 0.66 | $ 0.34 | $ 1.95 | $ 1.95 | $ 0.64 |
Stockholders' Equity - Summary
Stockholders' Equity - Summary of Preferred and Common Stock (Details) - $ / shares | Sep. 30, 2021 | Dec. 31, 2020 |
Class Of Stock [Line Items] | ||
Shares authorized | 50,000 | 50,000 |
Shares issued | 10,438 | 10,438 |
Shares outstanding | 10,438 | 10,438 |
Common stock, voting par value | $ 0.01 | $ 0.01 |
Common stock, voting shares authorized | 150,000,000 | 150,000,000 |
Common stock, voting shares issued | 39,170,541 | 38,736,540 |
Shares outstanding | 37,690,087 | 38,618,054 |
Treasury common shares | 1,480,454 | 118,486 |
Series B 7.5% Fixed to Floating Non-Cumulative Perpetual Preferred Stock | ||
Class Of Stock [Line Items] | ||
Par value | $ 0.01 | $ 0.01 |
Shares authorized | 50,000 | 50,000 |
Shares issued | 10,438 | 10,438 |
Shares outstanding | 10,438 | 10,438 |
Stockholders' Equity - Summar_2
Stockholders' Equity - Summary of Preferred and Common Stock (Parenthetical) (Details) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
Series B 7.5% Fixed to Floating Non-Cumulative Perpetual Preferred Stock | ||
Class Of Stock [Line Items] | ||
Preferred stock, dividend rate, percentage | 7.50% | 7.50% |
Stockholders' Equity - Addition
Stockholders' Equity - Additional Information (Details) - USD ($) | Oct. 26, 2021 | Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Sep. 30, 2020 | Mar. 31, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2016 | Jul. 27, 2021 | Dec. 10, 2020 |
Class Of Stock [Line Items] | |||||||||||
Dividends declared and paid | $ 587,000 | $ 587,000 | |||||||||
Aggregate number of shares authorized to repurchase | 1,250,000 | 1,250,000 | |||||||||
Approximate percentage of shares authorized to be repurchased | 3.00% | 3.00% | |||||||||
Number of shares purchased | 460,220 | 1,331,708 | |||||||||
Value of shares purchased | $ 10,411,000 | $ 12,093,000 | $ 6,363,000 | $ 1,668,000 | $ 28,900,000 | ||||||
Common stock, cash dividends paid | $ 0.09 | $ 0.03 | $ 0.21 | $ 0.09 | |||||||
Series B Preferred Stock | |||||||||||
Class Of Stock [Line Items] | |||||||||||
Preferred stock, dividend rate, percentage | 7.50% | ||||||||||
Preferred stock fixed dividend close date | Dec. 30, 2021 | ||||||||||
Dividends declared and paid | $ 196,000 | $ 196,000 | $ 587,000 | $ 587,000 | |||||||
Series B Preferred Stock | Three-month LIBOR | |||||||||||
Class Of Stock [Line Items] | |||||||||||
Preferred stock, dividend rate, percentage | 5.41% | ||||||||||
Subsequent Event | |||||||||||
Class Of Stock [Line Items] | |||||||||||
Cash dividend declared | $ 0.09 | ||||||||||
Dividend payable date | Nov. 23, 2021 | ||||||||||
Dividends record date | Nov. 9, 2021 | ||||||||||
Cash dividend declared | $ 0.09 |
Consolidated Statements of Ch_3
Consolidated Statements of Change in Accumulated Other Comprehensive Income (Loss) - Schedule of Consolidated Statements of Changes in Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||||||
Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Accumulated Other Comprehensive Income Loss [Line Items] | |||||||||
Beginning balance | $ 817,073 | $ 793,795 | $ 805,464 | $ 794,696 | $ 780,935 | $ 762,667 | $ 750,115 | $ 805,464 | $ 750,115 |
Other comprehensive income (loss), net of tax | (5,691) | 8,524 | (26,394) | (1,277) | (709) | 9,685 | 11,048 | (23,561) | 20,024 |
Ending balance | 824,418 | 817,073 | 793,795 | 805,464 | 794,696 | 780,935 | 762,667 | 824,418 | 794,696 |
Unrealized Gains (Losses) on Cash Flow Hedges | |||||||||
Accumulated Other Comprehensive Income Loss [Line Items] | |||||||||
Beginning balance | (305) | (320) | (366) | (305) | (366) | ||||
Other comprehensive income (loss), net of tax | 1,211 | 46 | |||||||
Ending balance | 906 | (305) | (320) | 906 | (320) | ||||
Unrealized Gains (Losses) on Available-for-Sale Securities | |||||||||
Accumulated Other Comprehensive Income Loss [Line Items] | |||||||||
Beginning balance | 18,352 | 19,644 | (334) | 18,352 | (334) | ||||
Other comprehensive income (loss), net of tax | (24,772) | 19,978 | |||||||
Ending balance | (6,420) | 18,352 | 19,644 | (6,420) | 19,644 | ||||
Accumulated Other Comprehensive Income (Loss) | |||||||||
Accumulated Other Comprehensive Income Loss [Line Items] | |||||||||
Beginning balance | 177 | (8,347) | 18,047 | 19,324 | 20,033 | 10,348 | (700) | 18,047 | (700) |
Other comprehensive income (loss), net of tax | (5,691) | 8,524 | (26,394) | (1,277) | (709) | 9,685 | 11,048 | (23,561) | 20,024 |
Ending balance | $ (5,514) | $ 177 | $ (8,347) | $ 18,047 | $ 19,324 | $ 20,033 | $ 10,348 | $ (5,514) | $ 19,324 |