Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Mar. 31, 2022 | May 02, 2022 | |
Document And Entity Information | ||
Document Type | 10-Q | |
Document Period End Date | Mar. 31, 2022 | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Entity File Number | 0-13358 | |
Entity Registrant Name | Capital City Bank Group, Inc. | |
Entity Incorporation State Country Code | FL | |
Entity Tax Identification Number | 59-2273542 | |
Address Line 1 | 217 North Monroe Street | |
Name of the City or Town | Tallahassee | |
Name of the state or province | FL | |
Code for the postal or zip code | 32301 | |
City Area Code | 850 | |
Local Phone Number | 402-7821 | |
Security 12b Title | Common Stock, Par value $0.01 | |
Trading Symbol | CCBG | |
Security Exchange Name | NASDAQ | |
Entity's Reporting Status Current | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 16,947,627 | |
Entity Central Index Key | 0000726601 | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2022 |
CONSOLIDATED STATEMENTS OF FINA
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($) | Mar. 31, 2022 | Dec. 31, 2021 |
ASSETS | ||
Cash and Due From Banks | $ 77,963,000 | $ 65,313,000 |
Federal Funds Sold and Interest Bearing Deposits | 790,465,000 | 970,041,000 |
Total Cash and Cash Equivalents | 868,428,000 | 1,035,354,000 |
Investment Securities, Available for Sale, at fair value (amortized cost of $655,927 and $660,732) | 624,361,000 | 654,611,000 |
Investment Securities, Held to Maturity (fair value of $501,277 and $339,699) | 518,678,000 | 339,601,000 |
Equity Securities | 855,000 | 861,000 |
Total Investment Securities | 1,143,894,000 | 995,073,000 |
Loans Held For Sale, at Fair Value | 50,815,000 | 52,532,000 |
Loans Held For Investment, Net of Unearned Income | 1,985,509,000 | 1,931,465,000 |
Allowance for Credit Losses | (20,756,000) | (21,606,000) |
Loans Held for Investment, Net | 1,964,753,000 | 1,909,859,000 |
Premises and Equipment, Net | 82,518,000 | 83,412,000 |
Goodwill and Other Intangibles | 93,213,000 | 93,253,000 |
Other Real Estate Owned | 17,000 | 17,000 |
Other Assets | 106,407,000 | 94,349,000 |
Total Assets | 4,310,045,000 | 4,263,849,000 |
Deposits: | ||
Noninterest Bearing Deposits | 1,704,329,000 | 1,668,912,000 |
Interest Bearing Deposits | 2,061,178,000 | 2,043,950,000 |
Total Deposits | 3,765,507,000 | 3,712,862,000 |
Short-Term Borrowings | 30,865,000 | 34,557,000 |
Subordinated Notes Payable | 52,887,000 | 52,887,000 |
Other Long-Term Borrowings | 806,000 | 884,000 |
Other Liabilities | 77,323,000 | 67,735,000 |
Total Liabilities | 3,927,388,000 | 3,868,925,000 |
Temporary Equity | 10,512,000 | 11,758,000 |
SHAREOWNERS' EQUITY | ||
Preferred Stock, $.$0.01 par value; 3,000,000 shares authorized; no shares issued and outstanding | 0 | 0 |
Common Stock, $0.01 par value; 90,000,000 shares authorized; 16,947,602 and 16,892,060 shares issued and outstanding at March 31, 2022 and December 31, 2021, respectively | 169,000 | 169,000 |
Additional Paid-In Capital | 35,188,000 | 34,423,000 |
Retained Earnings | 370,531,000 | 364,788,000 |
Accumulated Other Comprehensive Loss, net of tax | (33,743,000) | (16,214,000) |
Total Shareowners' Equity | 372,145,000 | 383,166,000 |
Total Liabilities, Temporary Equity, and Shareowners' Equity | $ 4,310,045,000 | $ 4,263,849,000 |
CONSOLIDATED STATEMENTS OF FI_2
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Parenthetical) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 |
Statement of Financial Position [Abstract] | ||
Amortized cost | $ 655,927 | $ 660,732 |
Investment securities, held to maturity, fair value | $ 501,277 | $ 339,699 |
Preferred Stock, par value (in dollar per share) | $ 0.01 | $ 0.01 |
Preferred Stock, shares authorized | 3,000,000 | 3,000,000 |
Preferred Stock, shares outstanding | 0 | 0 |
Preferred Stock, shares issued | 0 | 0 |
Common Stock, par value (in dollar per share) | $ 0.01 | $ 0.01 |
Common Stock, shares authorized | 90,000,000 | 90,000,000 |
Common Stock, shares issued | 16,947,602 | 16,892,060 |
Common Stock, shares outstanding | 16,947,602 | 16,892,060 |
CONSOLIDATED STATEMENTS OF INCO
CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
INTEREST INCOME | ||
Loans, including Fees | $ 22,133 | $ 23,350 |
Investment Securities: | ||
Taxable Securities | 2,890 | 1,863 |
Tax Exempt Securities | 6 | 20 |
Federal Funds Sold and Interest Bearing Deposits | 409 | 213 |
Total Interest Income | 25,438 | 25,446 |
INTEREST EXPENSE | ||
Deposits | 224 | 208 |
Short-Term Borrowings | 192 | 412 |
Subordinated Notes Payable | 317 | 307 |
Other Long-Term Borrowings | 9 | 21 |
Total Interest Expense | 742 | 948 |
NET INTEREST INCOME | 24,696 | 24,498 |
Provision for Credit Losses | 0 | (982) |
Net Interest Income After Provision For Credit Losses | 24,696 | 25,480 |
NONINTEREST INCOME | ||
Other | 1,848 | 1,722 |
Total Noninterest Income | 25,818 | 29,826 |
NONINTEREST EXPENSE | ||
Compensation | 24,856 | 26,064 |
Occupancy, Net | 6,093 | 5,967 |
Other Real Estate Owned, Net | 25 | (118) |
Pension Settlement | 209 | 0 |
Other | 8,050 | 8,563 |
Total Noninterest Expense | 39,233 | 40,476 |
INCOME BEFORE INCOME TAXES | 11,281 | 14,830 |
Income Tax Expense | 2,235 | 2,787 |
NET INCOME | 9,046 | 12,043 |
Income Attributable to Noncontrolling Interests | (591) | (2,537) |
NET INCOME ATTRIBUTABLE TO COMMON SHAREOWNERS | $ 8,455 | $ 9,506 |
BASIC NET INCOME PER SHARE (in dollars per shares) | $ 0.50 | $ 0.56 |
DILUTED NET INCOME PER SHARE (in dollars per shares) | $ 0.50 | $ 0.56 |
Average Basic Shares Outstanding | 16,931 | 16,838 |
Average Diluted Shares Outstanding | 16,946 | 16,862 |
Deposit fees [Member] | ||
NONINTEREST INCOME | ||
Revenue, fees and commissions | $ 5,191 | $ 4,271 |
Bank card fees [Member] | ||
NONINTEREST INCOME | ||
Revenue, fees and commissions | 3,763 | 3,618 |
Wealth Management fees [Member] | ||
NONINTEREST INCOME | ||
Revenue, fees and commissions | 6,070 | 3,090 |
Mortgage banking [Member] | ||
NONINTEREST INCOME | ||
Revenue, fees and commissions | $ 8,946 | $ 17,125 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Consolidated Statements of Comprehensive Income [Abstract] | ||
NET INCOME ATTRIBUTABLE TO COMMON SHAREOWNERS | $ 8,455 | $ 9,506 |
Other comprehensive (loss) income, before tax: | ||
Change in net unrealized (loss) gain on securities available for sale | (25,445) | (1,952) |
Change in net unrealized gain on effective cash flow derivative | 1,836 | 2,125 |
Benefit Plans: | ||
Reclassification adjustment for service cost | 0 | 24 |
Actuarial gain | 0 | 166 |
Pension Settlement | 209 | 0 |
Total Benefit Plans | 209 | 190 |
Other comprehensive (loss) income, before tax | (23,400) | 363 |
Deferred tax (benefit) expense related to other comprehensive income | (5,871) | 92 |
Other comprehensive (loss) income, net of tax | (17,529) | 271 |
TOTAL COMPREHENSIVE (LOSS) INCOME | $ (9,074) | $ 9,777 |
CONSOLIDATED STATEMENTS OF CHAN
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREOWNERS' EQUITY - USD ($) $ in Thousands | Total | Common Stock [Member] | Additional Paid-In Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive (Loss) Income, Net of Taxes [Member] | |
Balance at Dec. 31, 2020 | $ 320,837 | $ 168 | $ 32,283 | $ 332,528 | $ (44,142) | |
Balance (in shares) at Dec. 31, 2020 | 16,790,573 | |||||
Net Income attributable to common shareowners | 9,506 | $ 0 | 0 | 9,506 | 0 | |
Reclassification to Temporary Equity | [1] | (4,182) | 0 | 0 | (4,182) | 0 |
Other Comprehensive income (loss), net of tax | 271 | 0 | 0 | 0 | 271 | |
Cash Dividends ($0.1600 and $0.1500 per share) | (2,528) | 0 | 0 | (2,528) | 0 | |
Stock Based Compensation | 219 | 0 | 219 | 0 | 0 | |
Stock Compensation Plan Transactions, net | 303 | $ 1 | 302 | 0 | 0 | |
Stock Compensation Plan Transactions, net (in shares) | 61,305 | |||||
Balance at Mar. 31, 2021 | 324,426 | $ 169 | 32,804 | 335,324 | (43,871) | |
Balance, Shares at Mar. 31, 2021 | 16,851,878 | |||||
Balance at Dec. 31, 2021 | $ 383,166 | $ 169 | 34,423 | 364,788 | (16,214) | |
Balance (in shares) at Dec. 31, 2021 | 16,892,060 | |||||
Net Income attributable to common shareowners | $ 8,455 | 0 | 0 | 8,455 | 0 | |
Other Comprehensive income (loss), net of tax | (17,529) | 0 | 0 | 0 | (17,529) | |
Cash Dividends ($0.1600 and $0.1500 per share) | (2,712) | 0 | 0 | (2,712) | 0 | |
Stock Based Compensation | 245 | 0 | 245 | 0 | 0 | |
Stock Compensation Plan Transactions, net | 520 | $ 0 | 520 | 0 | 0 | |
Stock Compensation Plan Transactions, net (in shares) | 55,542 | |||||
Balance at Mar. 31, 2022 | $ 372,145 | $ 169 | $ 35,188 | $ 370,531 | $ (33,743) | |
Balance, Shares at Mar. 31, 2022 | 16,947,602 | 16,947,602 | ||||
[1] | Adjustment to redemption value for non-controlling interest in Capital City Home Loans. |
CONSOLIDATED STATEMENTS OF CH_2
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREOWNERS' EQUITY (Parenthetical) - $ / shares | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Statement of Stockholders' Equity [Abstract] | ||
Cash Dividends (in dollars per share) | $ 0.1600 | $ 0.1500 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net Income attributable to common shareowners | $ 8,455 | $ 9,506 |
Adjustments to Reconcile Net Income to Cash Provided by Operating Activities: | ||
Provision for Credit Losses | 0 | (982) |
Depreciation | 1,907 | 1,942 |
Amortization of Premiums, Discounts and Fees, net | 2,907 | 2,428 |
Amortization of Intangible Asset | 40 | 0 |
Pension Settlement | 209 | 0 |
Originations of Loans Held-for-Sale | (246,887) | (470,248) |
Proceeds From Sales of Loans Held-for-Sale | 257,550 | 519,331 |
Mortgage Banking Revenues | (8,946) | (17,125) |
Net Additions for Capitalized Mortgage Servicing Rights | 227 | 119 |
Change in Valuation Provision for Mortgage Servicing Rights | 0 | (250) |
Stock Compensation | 245 | 219 |
Net Tax Benefit From Stock-Based Compensation | (19) | (4) |
Deferred Income Taxes | (6,167) | (378) |
Net Change in Operating Leases | (27) | (41) |
Net Gain on Sales and Write-Downs of Other Real Estate Owned | 0 | (202) |
Net Decrease (Increase) in Other Assets | 1,441 | (1,370) |
Net Increase in Other Liabilities | 7,036 | 7,935 |
Net Cash Used In Investing Activities | 17,971 | 50,880 |
Securities Held to Maturity: | ||
Purchases | (194,448) | (54,382) |
Payments, Maturities, and Calls | 14,441 | 24,629 |
Securities Available for Sale: | ||
Purchases | (25,139) | (133,628) |
Proceeds from Sale or Securities | 3,365 | 0 |
Payments, Maturities, and Calls | 24,824 | 49,349 |
Purchases of Loans Held for Investment | (26,713) | (23,686) |
Net Increase in Loans Held for Investment | (28,405) | (29,437) |
Proceeds From Sales of Other Real Estate Owned | 0 | 1,084 |
Purchases of Premises and Equipment | (1,013) | (1,592) |
Noncontrolling Interest Contributions | 1,838 | 1,259 |
Net Cash Used In Investing Activities | (231,250) | (166,404) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Net Increase in Deposits | 52,645 | 140,548 |
Net Decrease in Short-Term Borrowings | (3,692) | (24,181) |
Repayment of Other Long-Term Borrowings | (78) | (1,014) |
Dividends Paid | (2,712) | (2,528) |
Issuance of Common Stock Under Purchase Plans | 190 | 33 |
Net Cash Provided By Financing Activities | 46,353 | 112,858 |
NET DECREASE IN CASH AND CASH EQUIVALENTS | (166,926) | (2,666) |
Cash and Cash Equivalents at Beginning of Period | 1,035,354 | 928,549 |
Cash and Cash Equivalents at End of Period | 868,428 | 925,883 |
Supplemental Cash Flow Disclosures: | ||
Interest Paid | 715 | 1,009 |
Income Taxes Paid | 20 | 0 |
Noncash Investing and Financing Activities: | ||
Loans Transferred to Other Real Estate Owned | $ 0 | $ 184 |
BUSINESS AND BASIS OF PRESENTAT
BUSINESS AND BASIS OF PRESENTATION | 3 Months Ended |
Mar. 31, 2022 | |
Business and Basis of Presentation [Abstract] | |
Business and Basis of Presentation | NOTE 1 – BUSINESS AND BASIS OF PRESENTATION Nature of Operations . related services to individual and corporate clients through its subsidiary, Georgia, and Alabama. government agencies and undergoes periodic examinations Basis of Presentation . and its wholly owned subsidiary, have been eliminated. The accompanying unaudited consolidated financial statements have principles for interim financial information and with the instructions to they do not include all of the information and notes required by generally accepted statements. presentation have been included. The Consolidated Statement of Financial Condition at December statements at that date, but does not include all of the information and notes complete financial statements. Company’s annual report Acquisition. April 30, 2021 , a newly formed subsidiary of CCBG, Capital City Strategic Wealth, substantially all of the assets of Strategic Wealth and insurance carrier agreements, and the assignment of all related revenues SWG principles became officers of CCSW and will continue five management services and comprehensive risk management CCBG paid $ 4.5 2.8 1.6 Accounting Standards Updates Accounting Standards Update (“ASU”) . Accounting Standards Board ("FASB") Restructurings and Vintage in ASC 310-40, "Receivables - Troubled Debt loss model introduced by ASU 2016-13, “Financial Instruments – Financial Instruments”. origination for financing receivables and net investments in leases within the Credit Losses—Measured at Amortized Cost". 15, 2022, including interim periods within those fiscal years, with early ASU 2022-02 will have on its consolidated financial statements and |
INVESTMENT SECURITIES
INVESTMENT SECURITIES | 3 Months Ended |
Mar. 31, 2022 | |
Investments Securities [Abstract] | |
Investment securities | NOTE 2 – INVESTMENT SECURITIES Investment Portfolio Composition . The following table summarizes the amortized cost and related fair value securities available-for-sale and securities held-to-maturity and the corresponding Available for Amortized Unrealized Unrealized Allowance for Fair (Dollars in Thousands) Cost Gains Losses Credit Losses Value March 31, 2022 U.S. Government Treasury $ 190,049 $ 15 $ 10,051 $ - $ 180,013 U.S. Government Agency 232,067 547 8,179 - 224,435 States and Political Subdivisions 47,107 11 3,753 (15) 43,350 Mortgage-Backed Securities (1) 91,169 15 5,121 - 86,063 Corporate Debt Securities 88,208 4 5,018 (21) 83,173 Other Securities (2) 7,327 - - - 7,327 Total $ 655,927 $ 592 $ 32,122 $ (36) $ 624,361 December 31, 2021 U.S. Government Treasury $ 190,409 $ 65 $ 2,606 $ - $ 187,868 U.S. Government Agency 238,490 1,229 2,141 - 237,578 States and Political Subdivisions 47,762 44 811 (15) 46,980 Mortgage-Backed Securities (1) 89,440 27 598 - 88,869 Corporate Debt Securities 87,537 10 1,304 (21) 86,222 Other Securities (2) 7,094 - - - 7,094 Total $ 660,732 $ 1,375 $ 7,460 $ (36) $ 654,611 Held to Maturity Amortized Unrealized Unrealized Fair (Dollars in Thousands) Cost Gains Losses Value March 31, 2022 U.S. Government Treasury $ 289,237 $ 10 $ 9,355 $ 279,892 Mortgage-Backed Securities (1) 229,441 414 8,470 221,385 Total $ 518,678 $ 424 $ 17,825 $ 501,277 December 31, 2021 U.S. Government Treasury $ 115,499 $ - $ 1,622 $ 113,877 Mortgage-Backed Securities (1) 224,102 2,819 1,099 225,822 Total $ 339,601 $ 2,819 $ 2,721 $ 339,699 (1) (2) Includes Federal Home Loan Bank and Federal Reserve Bank stock, recorded 2.3 5.1 respectively, 2.0 5.1 At March 31, 2022, the investment portfolio had $ 0.9 fair value and were not credit impaired. Securities with an amortized cost of $ 453.3 463.8 pledged to secure public deposits and for other purposes. The Bank, as a member of the Federal Home Loan Bank of Atlanta (“FHLB”), is required generally upon the balances of residential and commercial real estate loans and FHLB other securities, redemption of this stock has historically been at par value. As a member of the Federal Reserve Bank of Atlanta, the Bank is required to maintain based on a specified ratio relative to the Bank’s Investment Sales. There were sales of investment securities totaling $ 3.4 were no significant sales of investment securities for the three months ended Maturity Distribution . contractual maturity. prepay obligations. because they are not due at a certain maturity date. Available for Held to Maturity (Dollars in Thousands) Amortized Cost Fair Value Amortized Cost Fair Value Due in one year or less $ 36,321 $ 34,519 $ - $ - Due after one year through five years 306,432 290,613 289,237 279,892 Due after five year through ten years 62,103 56,445 - - Mortgage-Backed Securities 91,169 86,063 229,441 221,385 U.S. Government Agency 152,575 149,394 - - Equity Securities 7,327 7,327 - - Total $ 655,927 $ 624,361 $ 518,678 $ 501,277 Unrealized Losses on Investment Securities. unrealized losses aggregated by major security type and length of time in a continuous Less Than Greater Than 12 Months 12 Months Total Fair Unrealized Fair Unrealized Fair Unrealized (Dollars in Thousands) Value Losses Value Losses Value Losses March 31, 2022 Available for U.S. Government Treasury $ 117,369 $ 6,723 $ 57,638 $ 3,328 $ 175,007 $ 10,051 U.S. Government Agency 122,572 5,952 43,637 2,227 166,209 8,179 States and Political Subdivisions 42,181 3,719 444 34 42,625 3,753 Mortgage-Backed Securities 85,848 5,121 - - 85,848 5,121 Corporate Debt Securities 79,718 5,018 - - 79,718 5,018 Total 447,688 26,533 101,719 5,589 549,407 32,122 Held to Maturity U.S. Government Treasury 261,362 9,355 - - 261,362 9,355 Mortgage-Backed Securities 166,472 7,633 10,496 837 176,968 8,470 Total $ 427,834 $ 16,988 $ 10,496 $ 837 $ 438,330 $ 17,825 December 31, 2021 Available for U.S. Government Treasury $ 172,206 $ 2,606 $ - $ - $ 172,206 $ 2,606 U.S. Government Agency 127,484 1,786 17,986 355 145,470 2,141 States and Political Subdivisions 42,122 811 - - 42,122 811 Mortgage-Backed Securities 81,832 598 - - 81,832 598 Corporate Debt Securities 69,354 1,304 - - 69,354 1,304 Total $ 492,998 $ 7,105 $ 17,986 $ 355 $ 510,984 $ 7,460 Held to Maturity U.S. Government Treasury 113,877 1,622 - - 113,877 1,622 Mortgage-Backed Securities 115,015 1,099 - - 115,015 1,099 Total $ 228,892 $ 2,721 $ - $ - $ 228,892 $ 2,721 At March 31, 2022, there were 673 $ 49.9 553 Municipal securities totaled 48 72 investment securities had allowance for credit losses totaling less than $ 0.1 of these securities were attributable to changes in interest rates and not credit quality. Credit Quality Indicators The Company monitors the credit quality of its investment securities through monitoring of credit ratings. government entity or agency and are either explicitly or implicitly guaranteed long history of no credit losses on these securities indicates that the expectation even if the U.S. government were to technically default. refunded and secured by government guaranteed treasuries. assess or record expected credit losses due to the zero loss assumption. corporate securities portfolio via credit ratings securities in an unrealized loss position are evaluated to determine if the for credit loss is needed. |
LOANS HELD FOR INVESTMENT AND A
LOANS HELD FOR INVESTMENT AND ALLOWANCE FOR CREDIT LOSSES | 3 Months Ended |
Mar. 31, 2022 | |
Loans Held For Investment And Allowance For Credit Losses [Abstract] | |
Loans held for investment and allowance for credit losses | NOTE 3 – LOANS HELD FOR INVESTMENT AND ALLOWANCE Loan Portfolio Composition . (Dollars in Thousands) March 31, 2022 December 31, 2021 Commercial, Financial and Agricultural $ 230,213 $ 223,086 Real Estate – Construction 174,293 174,394 Real Estate – Commercial Mortgage 669,110 663,550 Real Estate – Residential (1) 374,712 360,021 Real Estate – Home Equity 188,174 187,821 Consumer (2) 349,007 322,593 Loans Held For Investment, Net of Unearned Income $ 1,985,509 $ 1,931,465 (1) Includes loans in process balances of $ 6.7 13.6 (2) Includes overdraft balances of $ 1.2 1.1 Net deferred loan costs, which include premiums on purchased loans, 4.4 3.9 million at December 31, 2021. Accrued interest receivable on loans which is excluded from amortized 5.8 5.3 December 31, 2021, and is reported separately in Other Assets. The Company has pledged a blanket floating lien on all 1-4 family residential mortgage and home equity loans to support available borrowing capacity at the FHLB of consumer loans, commercial loans, and construction loans to support available Atlanta. Loan Purchase and Sales . loans from Capital City Home Loans (“CCHL”), a related party. 26.3 $ 22.2 Allowance for Credit Losses . (“ACL”) has two basic components: first, an asset-specific component measurement of expected credit losses for such individual loans; and second, of loans that share similar risk characteristics. Policies in the Company’s 2021 Form The following table details the activity in the allowance for credit losses by allowance to one category of loans does not preclude its availability to Commercial, Real Estate Financial, Real Estate Commercial Real Estate Real Estate (Dollars in Thousands) Agricultural Construction Mortgage Residential Home Equity Consumer Total Three Months Ended March 31, 2022 Beginning Balance $ 2,191 $ 3,302 $ 5,810 $ 4,129 $ 2,296 $ 3,878 $ 21,606 Provision for Credit Losses (161) (714) (181) 314 (405) 1,068 (79) Charge-Offs (73) - (266) - (33) (1,402) (1,774) Recoveries 165 8 29 27 58 716 1,003 Net (Charge-Offs) Recoveries 92 8 (237) 27 25 (686) (771) Ending Balance $ 2,122 $ 2,596 $ 5,392 $ 4,470 $ 1,916 $ 4,260 $ 20,756 Three Months Ended March 31, 2021 Beginning Balance $ 2,204 $ 2,479 $ 7,029 $ 5,440 $ 3,111 $ 3,553 $ 23,816 Provision for Credit Losses (314) (225) (718) (305) (655) (95) (2,312) Charge-Offs (69) - - (6) (5) (1,056) (1,136) Recoveries 136 - 645 75 124 678 1,658 Net (Charge-Offs) Recoveries 67 - 645 69 119 (378) 522 Ending Balance $ 1,957 $ 2,254 $ 6,956 $ 5,204 $ 2,575 $ 3,080 $ 22,026 For the three months ended March 31, 2022, the allowance decreased 0.9 0.1 and net loan charge-offs of $ 0.8 1.8 reflected a provision benefit of $ 2.3 0.5 March 31, 2022 and March 31, 2021 reflected improvement in the of default. management’s estimate of probability. balance sheet credit commitments. Loan Portfolio Aging. A loan is defined as a past due loan when one full payment is past due or a contractual maturity past due (“DPD”). The following table presents the aging of the amortized cost basis in accruing 30-59 60-89 90 + Total Total Nonaccrual Total (Dollars in Thousands) DPD DPD DPD Past Due Current Loans Loans March 31, 2022 Commercial, Financial and Agricultural $ 205 $ 79 $ - $ 284 $ 229,898 $ 31 $ 230,213 Real Estate – Construction - - - - 174,293 - 174,293 Real Estate – Commercial Mortgage 502 - - 502 668,186 422 669,110 Real Estate – Residential 474 29 - 503 373,005 1,204 374,712 Real Estate – Home Equity 47 - - 47 187,283 844 188,174 Consumer 1,152 632 - 1,784 346,996 227 349,007 Total $ 2,380 $ 740 $ - $ 3,120 $ 1,979,661 $ 2,728 $ 1,985,509 December 31, 2021 Commercial, Financial and Agricultural $ 100 $ 23 $ - $ 123 $ 222,873 $ 90 $ 223,086 Real Estate – Construction - - - - 174,394 - 174,394 Real Estate – Commercial Mortgage 151 - - 151 662,795 604 663,550 Real Estate – Residential 365 151 - 516 357,408 2,097 360,021 Real Estate – Home Equity 210 - - 210 186,292 1,319 187,821 Consumer 1,964 636 - 2,600 319,781 212 322,593 Total $ 2,790 $ 810 $ - $ 3,600 $ 1,923,543 $ 4,322 $ 1,931,465 Nonaccrual Loans . management deems the collectability of the principal and/or interest to principal and interest amounts contractually due are brought current The following table presents the amortized cost basis of loans in nonaccrual by class of loans. March 31, 2022 December 31, 2021 Nonaccrual Nonaccrual Nonaccrual Nonaccrual With No With 90 + Days With No With 90 + Days (Dollars in Thousands) ACL ACL Still Accruing ACL ACL Still Accruing Commercial, Financial and Agricultural $ - $ 31 $ - $ 67 $ 23 $ - Real Estate – Construction - - - - - - Real Estate – Commercial Mortgage - 422 - - 604 - Real Estate – Residential 728 476 - 928 1,169 - Real Estate – Home Equity - 844 - 463 856 - Consumer - 227 - - 212 - Total Nonaccrual $ 728 $ 2,000 $ - $ 1,458 $ 2,864 $ - Collateral Dependent Loans. The following table presents the amortized cost basis of collateral-dependent March 31, 2022 December 31, 2021 Real Estate Non Real Estate Real Estate Non Real Estate (Dollars in Thousands) Secured Secured Secured Secured Commercial, Financial and Agricultural $ - $ - $ - $ 67 Real Estate – Construction - - - - Real Estate – Commercial Mortgage - - 455 - Real Estate – Residential 855 - 1,645 - Real Estate – Home Equity 601 - 649 - Consumer - - - - Total Collateral Dependent $ 1,456 $ - $ 2,749 $ 67 A loan is collateral dependent when the borrower is experiencing financial sale or operation of the underlying collateral. The Bank’s collateral dependent or commercial collateral types. or internal evaluations, adjusted for selling costs or other amounts to be deducted Residential Real Estate Loans In Process of Foreclosure . 0.9 and $ 0.9 Troubled 7.5 7.3 performing in accordance with the modified terms. 8.0 7.6 million were performing in accordance with modified terms. 0.3 0.3 credit loss reserves at March 31, 2022 and December 31, 2021, respectively. The modifications made to TDRs involved either an extension of the loan term, a principal or a combination thereof. no March 31, 2021, there were two 0.4 2022 and March 31, 2021, there were no within the 12 months prior to default. Credit Risk Management . procedures designed to maximize loan income within an acceptable approve these policies and procedures on a regular basis (at least annually). Reporting systems are used to monitor loan originations, loan quality, loans and potential problem loans. monitor asset quality trends and the appropriateness of credit policies. concentration risk is monitored. of risk, client concentrations, industry group, loan type, geographic of the loan portfolio are monitored and reported to the Board on a quarterly Board approved credit policies governing exposure limits and underwriting the Company’s loan portfolio Commercial, Financial, and Agricultural – Loans in this category with consideration given to underlying collateral and personal or ratio limits that require a borrower’s cash flow to be sufficient The majority of these loans are secured by the assets being financed or other business equipment. governed by established policy guidelines. Real Estate Construction – Loans in this category consist of short-term and construction/permanent loans made to individuals and investors to rehabilitation of real property. secured by the property being financed, including 1-4 family residential occupied or investment in nature. based upon estimates of costs and value associated with the completed party appraisals and evaluations. of funds for construction loans is made in relation to the progress of the project site inspections. Real Estate Commercial Mortgage – Loans in this category consists of commercial owner-occupied or investment in nature. with consideration given to underlying real estate collateral and coverage ratios and loan to value ratios specific to the property type. appraisals and evaluations. Real Estate Residential – Residential mortgage loans held in the Company’s ability to make scheduled payments with full consideration to underwriting assets, and other financial resources, credit history, residential originate sub-prime loans. Real Estate Home Equity – Home equity loans and lines are made to qualified individuals by senior or junior mortgage liens on owner-occupied favorable credit history combined established policy guidelines. Consumer Loans – This loan portfolio includes personal installment loans, lines of credit. establishes maximum debt to income ratios, minimum credit scores, and receipt of credit reports. Credit Quality Indicators . into risk categories based on relevant information about the ability of borrowers information, historical payment performance, credit documentation, factors. relationships over a predetermined amount and review of smaller balance homogenous noted below for categorizing and managing its criticized loans. and are not considered criticized. Special Mention – Loans in this category are presently protected from loss, but cause future problems. the ordinary amount of attention is warranted for these loans. Substandard – Loans in this category exhibit well-defined weaknesses that would These loans are no longer adequately protected due to well-defined borrower. Doubtful – Loans in this category have all the weaknesses inherent in a loan categorized the weaknesses make collection or liquidation in full, on the basis of questionable and improbable. Performing/Nonperforming – Loans within certain homogenous but are monitored for credit quality via the aging status of the loan and by payment is updated on an on-going basis dependent upon improvement The following table summarizes gross loans held for investment at credit risk ratings (refer to Credit Risk Management section for detail on risk rating Term Revolving (Dollars in Thousands) 2022 2021 2020 2019 2018 Prior Loans Total Commercial, Financial, Agriculture: Pass $ 22,526 $ 60,369 $ 27,910 $ 26,368 $ 18,565 $ 18,863 $ 54,707 $ 229,308 Special Mention - 100 187 268 16 24 - 595 Substandard - - 58 - 184 68 - 310 Total $ 22,526 $ 60,469 $ 28,155 $ 26,636 $ 18,765 $ 18,955 $ 54,707 $ 230,213 Real Estate - Construction: Pass $ 11,641 $ 109,459 $ 42,522 $ 8,684 $ - $ 129 $ 1,858 $ 174,293 Total $ 11,641 $ 109,459 $ 42,522 $ 8,684 $ - $ 129 $ 1,858 $ 174,293 Real Estate - Commercial Mortgage: Pass $ 50,302 $ 165,574 $ 123,213 $ 73,444 $ 73,824 $ 131,407 $ 26,092 $ 643,856 Special Mention - - 410 1,750 2,615 5,761 1,250 11,786 Substandard - 10,055 405 640 - 2,298 70 13,468 Total $ 50,302 $ 175,629 $ 124,028 $ 75,834 $ 76,439 $ 139,466 $ 27,412 $ 669,110 Real Estate - Residential: Pass $ 46,698 $ 117,058 $ 55,670 $ 34,111 $ 23,957 $ 81,162 $ 6,255 $ 364,911 Special Mention 61 - 132 18 60 570 1,348 2,189 Substandard 74 576 1,007 1,085 971 3,899 - 7,612 Total $ 46,833 $ 117,634 $ 56,809 $ 35,214 $ 24,988 $ 85,631 $ 7,603 $ 374,712 Real Estate - Home Equity: Performing $ - $ 146 $ 13 $ 255 $ 130 $ 2,191 $ 184,595 $ 187,330 Nonperforming - - - 17 - - 827 844 Total $ - $ 146 $ 13 $ 272 $ 130 $ 2,191 $ 185,422 $ 188,174 Consumer: Performing $ 61,883 $ 159,135 $ 56,232 $ 33,402 $ 22,026 $ 10,370 $ 5,731 $ 348,779 Nonperforming - 58 59 22 58 31 - 228 Total $ 61,883 $ 159,193 $ 56,291 $ 33,424 $ 22,084 $ 10,401 $ 5,731 $ 349,007 |
MORTGAGE BANKING ACTIVITIES
MORTGAGE BANKING ACTIVITIES | 3 Months Ended |
Mar. 31, 2022 | |
Mortgage Banking Activities [Abstract] | |
Mortgage Banking Activities | NOTE 4 – MORTGAGE BANKING ACTIVITIES The Company’s mortgage used to manage residential loan pipeline price risk, utilization of warehouse and residential mortgage servicing. Residential Mortgage Loan Production The Company originates, markets, and services conventional and conforming fixed rate residential mortgage loans are held for sale in the residential mortgage loans may be held for investment. market prices are the primary drivers of origination revenue. Residential mortgage loan commitments are generally outstanding for 30 commitment to originate a residential mortgage loan to when the closed commitments are subject to both credit and price risk. collateral requirements, which are generally accepted by the secondary fluctuations and is partially managed through forward sales of residential securities, or TBAs) or mandatory delivery commitments with investors. The unpaid principal balance of residential mortgage loans held for sale, mortgage loan commitments and forward contract sales and their related March 31, 2022 December 31, 2021 Unpaid Principal Unpaid Principal (Dollars in Thousands) Balance/Notional Fair Value Balance/Notional Fair Value Residential Mortgage Loans Held for Sale $ 49,991 $ 50,815 $ 50,733 $ 52,532 Residential Mortgage Loan Commitments ("IRLCs") (1) 99,399 1,117 51,883 1,258 Forward Sales Contracts (2) 55,000 850 48,000 (7) $ 52,782 $ 53,783 (1) Recorded in other assets at fair value (2) Recorded in other assets and other liabilities at fair value The Company had no 2022, and loans held for sale that were 30-69 days outstanding totaled $ 0.2 Mortgage banking revenue was as follows: Three Months Ended March 31, (Dollars in Thousands) 2022 2021 Net realized gains on sales of mortgage loans $ 5,136 $ 14,424 Net change in unrealized gain on mortgage loans held for sale (975) (2,031) Net change in the fair value of mortgage loan commitments (IRLCs) (141) (1,843) Net change in the fair value of forward sales contracts 857 2,263 Pair-Offs on net settlement of forward sales contracts 2,255 3,310 Mortgage servicing rights additions 632 187 Net origination fees 1,182 815 Total mortgage banking $ 8,946 $ 17,125 Residential Mortgage Servicing The Company may retain the right to service residential mortgage loans others is the primary driver of servicing revenue. The following represents a summary of mortgage servicing rights. (Dollars in Thousands) March 31, 2022 December 31, 2021 Number of residential mortgage loans serviced for others 2,224 2,106 Outstanding principal balance of residential mortgage loans serviced $ 577,297 $ 532,967 Weighted average 3.62% 3.59% Remaining contractual term (in months) 317 317 Conforming conventional loans serviced by the Company are sold to FNMA on generally the responsibility of FNMA and not the Company. GNMA, whereby the Company is insured against loss by the Federal Housing the Veterans 60 %), GNMA ( 8 %), and private investor ( 32 %). The Company had $ 1.3 2.0 Company at March 31, 2022 and December 31, 2021, respectively. has been recorded in other assets and other liabilities, respectively, three months ended March 31, 2022, the Company repurchased $ 0.4 For the three months ended March 31, 2021, the Company repurchased 1.5 with the intention to modify their terms and include the loans in new GNMA Activity in the capitalized mortgage servicing rights was as follows: Three Months Ended March 31, (Dollars in Thousands) 2022 2021 Beginning balance $ 3,774 $ 3,452 Additions due to loans sold with servicing retained 632 187 Deletions and amortization (405) (306) Valuation - 250 Ending balance $ 4,001 $ 3,583 The Company did no t record any permanent impairment losses on mortgage servicing rights for the 2022 and March 31, 2021. The key unobservable inputs used in determining the fair value of the Company’s March 31, 2022 December 31, 2021 Minimum Maximum Minimum Maximum Discount rates 10.00% 15.00% 11.00% 15.00% Annual prepayment speeds 7.12% 19.55% 11.98% 23.79% Cost of servicing (per loan) $ 60 $ 73 $ 60 $ 73 Changes in residential mortgage interest rates directly affect servicing rights. estimated loan curtailment, anticipated defaults, and other relevant factors. 10.56 % at March 31, 2022 and 15.85 % at December 31, 2021. Warehouse The Company has the following warehouse lines of credit and master repurchase March 31, 2022. Amounts (Dollars in Thousands) Outstanding $ 75 1.00% to plus 1.00% , with a floor rate of 3.25% . 0.5 6,705 $ 75 November 2022 . 2.25% , to 3.25% . 19,191 Total Warehouse $ 25,896 Warehouse 29.0 million. At March 31, 2022, the Company had residential mortgage pledged as collateral under the above warehouse lines of credit and master repurchase covenants which include certain financial requirements, including assets, and maximum debt to net worth ratio, as defined in the agreements. covenants at March 31, 2022. The Company has extended a $ 50 51 % owned subsidiary entity. transactions under this line of credit are eliminated in the Company’s total short term borrowings noted on the Consolidated Statement of December 31, 2021 and March 31, 2022 was $ 14.8 15.3 |
DERIVATIVES
DERIVATIVES | 3 Months Ended |
Mar. 31, 2022 | |
Derivatives [Abstract] | |
Derivatives | NOTE 5 – DERIVATIVES The Company enters into derivative financial instruments to manage exposures receipt or payment of future known and uncertain cash amounts, the value of derivative financial instruments are used to manage differences expected cash receipts and its known or expected cash payments principally Cash Flow Hedges of Interest Rate Risk Interest rate swaps with notional amounts totaling $ 30 debt. 2.50 % and receive a variable interest rate based on three-month LIBOR plus a weighted average margin of 1.83 %. For derivatives designated and that qualify as cash flow hedges of interest rate accumulated other comprehensive income (“AOCI”) and subsequently which the hedged transaction affects earnings. Amounts reported will be reclassified to interest expense as interest payments are made on the The following table reflects the cash flow hedges included in the consolidated Statement of Financial Notional Fair Weighted Average (Dollars in Thousands) Condition Location Amount Value March 31, 2022 Interest rate swaps related to subordinated debt Other Assets $ 30,000 $ 3,886 8.3 December 31, 2021 Interest rate swaps related to subordinated debt Other Assets $ 30,000 $ 2,050 8.5 The following table presents the net gains (losses) recorded in AOCI and the flow derivative instruments (interest rate swaps related to subordinated Amount of Gain Amount of Gain (Loss) Recognized (Loss) Reclassified (Dollars in Thousands) Category in AOCI from AOCI to Income Three months ended March 31, 2022 Interest expense $ 1,370 $ (28) Three months ended March 31, 2021 Interest expense $ 1,587 (33) The Company estimates there will be approximately $ 0.1 months. The Company had a collateral liability of $ 4.0 2.0 |
LEASES
LEASES | 3 Months Ended |
Mar. 31, 2022 | |
Leases [Abstract] | |
Leases | NOTE 6 – LEASES Operating leases in which the Company is the lessee are recorded as operating liabilities, included in other assets and liabilities, respectively, The Company’s operating 1 44 leases are not complex and do not contain residual value guarantees, variable made in applying the requirements of Topic Operating leases with an initial term of 12 months or less are not recorded on the Consolidated Statement of Financial Condition and the related lease expense is recognized on a straight-line basis over the lease term. At March 31, 2022, the operating lease ROU assets and liabilities were $ 11.7 12.3 31, 2021, ROU assets and liabilities were $ 11.5 12.2 leases or any significant lessor agreements. The table below summarizes our lease expense and other information related Three Months Ended March 31, (Dollars in Thousands) 2022 2021 Operating lease expense $ 384 $ 344 Short-term lease expense 179 140 Total lease expense $ 563 $ 484 Other information: Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 429 $ 385 Right-of-use assets obtained in exchange for new operating lease liabilities 592 75 Weighted average 24.9 25.5 Weighted average 2.0% 2.1% The table below summarizes the maturity of remaining lease liabilities: (Dollars in Thousands) March 31, 2022 2022 $ 1,581 2023 1,190 2024 1,120 2025 977 2026 875 2027 and thereafter 10,341 Total $ 16,084 Less: Interest (3,773) Present Value $ 12,311 At March 31, 2022, the Company had four additional operating lease obligations yet commenced. Three of the leases have payments totaling $ 9.3 15 years , and the fourth lease has payments totaling $ 1.4 10 years . Payments for the banking offices are expected to commence after the construction periods end, which are each expected to occur during the fourth quarter of 2022 and the first quarter of 2023. A related party is the lessor in an operating lease with the Company. 0.2 through 2024, for an aggregate remaining obligation of $ 0.5 |
EMPLOYEE BENEFIT PLANS
EMPLOYEE BENEFIT PLANS | 3 Months Ended |
Mar. 31, 2022 | |
Employee Benefit Plans [Abstract] | |
Employee benefit plans | NOTE 7 - EMPLOYEE BENEFIT PLANS The Company has a defined benefit pension plan covering substantially all full-time Supplemental Executive Retirement Plan (“SERP”) and a Supplemental executive officers. December 31, 2019. were not covered by the SERP. The components of the net periodic benefit cost for the Company's qualified Three Months Ended March 31, (Dollars in Thousands) 2022 2021 Service Cost $ 1,572 $ 1,743 Interest Cost 1,166 1,221 Expected Return on Plan Assets (2,675) (2,787) Prior Service Cost Amortization 4 4 Net Loss Amortization 428 1,691 Pension Settlement 209 - Net Periodic Benefit Cost $ 704 $ 1,872 Discount Rate Used for Benefit Cost 3.11% 2.88% Long-term Rate of Return on Assets 6.75% 6.75% The components of the net periodic benefit cost for the Company's SERP plans were as follows: Three Months Ended March 31, (Dollars in Thousands) 2022 2021 Service Cost $ 8 $ 9 Interest Cost 79 59 Prior Service Cost Amortization 69 19 Net Loss Amortization 180 198 Net Periodic Benefit Cost $ 336 $ 285 Discount Rate Used for Benefit Cost 2.80% 2.38% The service cost component of net periodic benefit cost is reflected in income. of income. |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 3 Months Ended |
Mar. 31, 2022 | |
Commitments and Contingencies [Abstract] | |
Commitments and contingencies | NOTE 8 - COMMITMENTS AND CONTINGENCIES Lending Commitments . to meet the financing needs of its clients. credit. The Company’s maximum exposure the contractual amount of those instruments. letters of credit as it does for on-balance sheet instruments. obligations were as follows: March 31, 2022 December 31, 2021 (Dollars in Thousands) Fixed Variable Total Fixed Variable Total Commitments to Extend Credit $ 200,236 $ 563,634 $ 763,870 $ 217,531 $ 505,897 $ 723,428 Standby Letters of Credit 5,020 - 5,020 5,205 - 5,205 Total $ 205,256 $ 563,634 $ 768,890 $ 222,736 $ 505,897 $ 728,633 (1) Commitments include unfunded loans, revolving Commitments to extend credit are agreements to lend to a client so long as there is no violation of contract. many of the commitments are expected to expire without being drawn represent future cash requirements. Standby letters of credit are conditional commitments issued by party. general, management does not anticipate any material losses as a result potential losses arising from such transactions are reserved for in the same manner facilities. For both on- and off-balance sheet financial instruments, the Company deemed necessary. obtained upon extension of credit is based on management’s include deposits held in financial institutions; U.S. Treasury property, plant and The allowance for credit losses for off-balance sheet credit commitments adjusted as a provision for credit loss expense and is recorded in other liabilities. allowance. Three Months Ended March 31, (Dollars in Thousands) 2022 2021 Beginning Balance $ 2,897 $ 1,644 Provision for Credit Losses 79 1,330 Ending Balance $ 2,976 $ 2,974 Other Commitments. In the normal course of business, the Company enters into lease commitments leases. See Note 6 – Leases for additional information on the maturity of the the Company has an outstanding commitment of up to $ 1.0 technology solutions for community banks. At March 31, 2022 and at December 0.1 of the commitment. Contingencies . there are no known pending claims or litigation, the outcome of which would, on the consolidated results of operations, financial position, or cash flows Indemnification Obligation . indemnify the Visa U.S.A. antitrust lawsuits challenging the practices of Visa U.S.A. network, obtained Class B shares of Visa, funded a litigation reserve for the Covered Litigation resulting in a reduction first quarter of 2011, the Company sold its remaining contract with the purchaser of the shares that requires a payment to the revisions to the conversion ratio for its Class B shares. litigation reserve is fully liquidated and at which time the aforementioned approximate $ 0.2 incurred. |
FAIR VALUE MEASUREMENTS
FAIR VALUE MEASUREMENTS | 3 Months Ended |
Mar. 31, 2022 | |
Fair Value measurements [Abstract] | |
Fair value measurements | NOTE 9 – FAIR VALUE The fair value of an asset or liability is the price that would be received to sell that asset or paid transaction occurring in the principal market (or most advantageous market in liability. approach and/or the cost approach. assumptions that market participants would use in pricing valuation inputs that gives the highest priority to quoted prices in active markets priority to unobservable inputs. ● Level 1 Inputs - Unadjusted quoted prices in active markets for identical assets or liabilities that the reporting ability to access at the measurement date . ● Level 2 Inputs - Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, or indirectly. These might or similar assets or liabilities in markets that are not active, inputs other liability (such as interest rates, volatilities, prepayment speeds, credit risks, etc.) corroborated, by market data by correlation or other means . ● Level 3 Inputs - Unobservable inputs for determining the fair values of assets or liabilities that reflect an assumptions about the assumptions that market participants would Assets and Liabilities Measured at Fair Value Securities Available for Sale. U.S. Treasury securities are reported at fair value available for sale are reported at fair value utilizing Level 2 inputs. from an independent pricing service. spreads, cash flows, the U.S. Treasury yield curve, and conditions, among other things. In general, the Company does not purchase securities that have a complicated structure. traditional investments, nearly all of which are U.S. Treasur general obligation or revenue-based municipal bonds. will validate prices supplied by the independent pricing service by compari source. Loans Held for Sale . using either quoted secondary-market prices or investor commitments. using quoted prices for a similar asset or assets, adjusted for the specific attributes of participants. Mortgage Banking Derivative Instruments. The fair values of interest rate lock commitments (“IRLCs”) are derived by valuation models incorporating market pricing for instruments with similar characteristics, investor commitment prices for best effort IRLCs which have servicing rights expected to be recorded upon sale of the loans, net estimated costs to and are therefore classified as Level 3 within the fair value hierarchy. observable market pricing for similar instruments and are therefore Interest Rate Swap. The Company’s derivative positions models generally accepted in the financial services industry and external market data providers. Fair Value . valuation represents the amount due and payable to the counterparty based upon period. At March 31, 2022, no 0.1 A summary of fair values for assets and liabilities consisted of the following: Level 1 Level 2 Level 3 Total (Dollars in Thousands) Inputs Inputs Inputs Value March 31, 2022 ASSETS: Securities Available for U.S. Government Treasury $ 180,013 $ - $ - $ 180,013 U.S. Government Agency - 224,435 - 224,435 States and Political Subdivisions - 43,350 - 43,350 Mortgage-Backed Securities - 86,063 - 86,063 Corporate Debt Securities - 83,173 - 83,173 Other Securities - 7,327 - 7,327 Loans Held for Sale - 50,815 - 50,815 Interest Rate Swap Derivative - 3,886 - 3,886 Mortgage Banking Hedge Derivative - 850 - 850 Mortgage Banking IRLC Derivative - - 1,117 1,117 Mortgage Servicing Rights - - 7,177 7,177 December 31, 2021 ASSETS: Securities Available for U.S. Government Treasury $ 187,868 $ - $ - $ 187,868 U.S. Government Agency - 237,578 - 237,578 States and Political Subdivisions - 46,980 - 46,980 Mortgage-Backed Securities - 88,869 - 88,869 Corporate Debt Securities - 86,222 - 86,222 Other Securities - 7,094 - 7,094 Loans Held for Sale - 52,532 - 52,532 Interest Rate Swap Derivative - 2,050 - 2,050 Mortgage Banking IRLC Derivative - - 1,258 1,258 Mortgage Servicing Rights - - 4,718 4,718 LIABILITIES: Mortgage Banking Hedge Derivative $ - $ 7 $ - $ 7 Mortgage Banking Activities . 4.3 and $ 13.6 15.4 10.5 three months ended March 31, 2021. inception of the IRLC to the Consolidated Statement of Financial Condition IRLCs transferred out of Level 3 represent IRLCs that were funded and moved Assets Measured at Fair Value Certain assets are measured at fair value on a non-recurring basis (i.e., the but are subject to fair value adjustments in certain circumstances). The following is a description of valuation methodologies used for assets measured Collateral Dependent Loans . costs. regulations. estimation involved in the real estate appraisal process. basis for additional impairment and adjusted accordingly. periods. 1.5 0.1 and $ 2.8 0.2 Other Real Estate Owned . and reported at fair value through a charge-off estimated cost to sell. conformance with banking regulations. adjustments as necessary. involved in the real estate valuation process. Mortgage Servicing Rights . upon the fair value of the rights as compared to the carrying amount. estimated prepayment speeds of the underlying mortgage loans serviced and underlying loans (predominantly loan type and note interest rate). discount rate, weighted average prepayment speed, and the cost of loan provided in Note 4 – Mortgage Banking Activities. no compared to $ 0.3 Assets and Liabilities Disclosed at Fair Value The Company is required to disclose the estimated fair value of financial instruments, practical to estimate fair value and the following is a description of valuation Cash and Short-Term The carrying amount of cash and short-term investments is used to approximate the short time frame to maturity and as such assets do not present unanticipated Securities Held to Maturity . caption “Assets and Liabilities Measured at Fair Value Loans. techniques based upon projected cash flows and estimated discount Recognition and Measurement of Financial Assets and Financial , the values reported reflect the incorporation of a liquidity discount to meet the objective of “exit price” valuation. Deposits. amounts payable on demand at the reporting date. The fair value of fixed maturity value techniques and rates currently offered for deposits of Subordinated Notes Payable. flows and estimated discount rates as well as rates being offered Short-Term projected cash flows and estimated discount rates as well as rates being offered A summary of estimated fair values of significant financial instruments consisted March 31, 2022 Carrying Level 1 Level 2 Level 3 (Dollars in Thousands) Value Inputs Inputs Inputs ASSETS: Cash $ 77,963 $ 77,963 $ - $ - Short-Term Investments 790,465 790,465 - - Investment Securities, Available 624,361 180,013 444,348 - Investment Securities, Held to Maturity 518,678 279,892 221,385 - Equity Securities (1) 855 - 855 - Loans Held for Sale 50,815 - 50,815 - Other Equity Securities (2) 2,898 - 2,898 - Interest Rate Swap Derivative 3,886 - 3,886 - Mortgage Banking Hedge Derivative 850 - 850 - Mortgage Servicing Rights 4,001 - - 7,177 Mortgage Banking IRLC Derivative 1,117 - - 1,117 Loans, Net of Allowance for Credit Losses 1,964,753 - - 1,934,570 LIABILITIES: Deposits $ 3,765,507 $ - $ 3,417,626 $ - Short-Term 30,865 - 30,865 - Subordinated Notes Payable 52,887 - 45,336 - Long-Term Borrowings 806 - 834 - December 31, 2021 Carrying Level 1 Level 2 Level 3 (Dollars in Thousands) Value Inputs Inputs Inputs ASSETS: Cash $ 65,313 $ 65,313 $ - $ - Short-Term Investments 970,041 970,041 - - Investment Securities, Available 654,611 187,868 466,743 - Investment Securities, Held to Maturity 339,601 113,877 225,822 - Equity Securities (1) 861 - 861 - Loans Held for Sale 52,532 - 52,532 - Other Equity Securities (2) 2,848 - 2,848 - Interest Rate Swap Derivative 2,050 - 2,050 - Mortgage Servicing Rights 3,774 - - 4,718 Mortgage Banking IRLC Derivative 1,258 - - 1,258 Loans, Net of Allowance for Credit Losses 1,909,859 - - 1,903,640 LIABILITIES: Deposits $ 3,712,862 $ - $ 3,713,478 $ - Short-Term 34,557 - 34,557 - Subordinated Notes Payable 52,887 - 42,609 - Long-Term Borrowings 884 - 938 - Mortgage Banking Hedge Derivative 7 - 7 - Not readily marketable securities - reflected (2) Accounted for under the equity method – not readily All non-financial instruments are excluded from the above table. aggregate fair value amounts presented do not represent the underlying |
ACCUMULATED OTHER COMPREHENSIVE
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) | 3 Months Ended |
Mar. 31, 2022 | |
Accumulated other comprehensive income (loss) [Abstract] | |
Accumulated other comprehensive income | NOTE 10 – ACCUMULATED The amounts allocated to accumulated other comprehensive income Accumulated Securities Other Available Interest Rate Retirement Comprehensive (Dollars in Thousands) Swap Plans Balance as of January 1, 2022 $ (4,588) $ 1,530 $ (13,156) $ (16,214) Other comprehensive (loss) income during the period (19,055) 1,370 156 (17,529) Balance as of March 31, 2022 $ (23,643) $ 2,900 $ (13,000) $ (33,743) Balance as of January 1, 2021 $ 2,700 $ 428 $ (47,270) $ (44,142) Other comprehensive (loss) income during the period (1,458) 1,587 142 271 Balance as of March 31, 2021 $ 1,242 $ 2,015 $ (47,128) $ (43,871) |
BUSINESS AND BASIS OF PRESENT_2
BUSINESS AND BASIS OF PRESENTATION (Policies) | 3 Months Ended |
Mar. 31, 2022 | |
Business and Basis of Presentation [Abstract] | |
Nature of Operations | Nature of Operations . related services to individual and corporate clients through its subsidiary, Georgia, and Alabama. government agencies and undergoes periodic examinations |
Basis of Presentation | Basis of Presentation . and its wholly owned subsidiary, have been eliminated. The accompanying unaudited consolidated financial statements have principles for interim financial information and with the instructions to they do not include all of the information and notes required by generally accepted statements. presentation have been included. The Consolidated Statement of Financial Condition at December statements at that date, but does not include all of the information and notes complete financial statements. Company’s annual report |
Acquisition | Acquisition. April 30, 2021 , a newly formed subsidiary of CCBG, Capital City Strategic Wealth, substantially all of the assets of Strategic Wealth and insurance carrier agreements, and the assignment of all related revenues SWG principles became officers of CCSW and will continue five management services and comprehensive risk management CCBG paid $ 4.5 2.8 1.6 |
Accounting Standards Updates | Accounting Standards Updates Accounting Standards Update (“ASU”) . Accounting Standards Board ("FASB") Restructurings and Vintage in ASC 310-40, "Receivables - Troubled Debt loss model introduced by ASU 2016-13, “Financial Instruments – Financial Instruments”. origination for financing receivables and net investments in leases within the Credit Losses—Measured at Amortized Cost". 15, 2022, including interim periods within those fiscal years, with early ASU 2022-02 will have on its consolidated financial statements and |
INVESTMENT SECURITIES (Tables)
INVESTMENT SECURITIES (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Investments Securities [Abstract] | |
Schedule of amortized cost and related market value of investment securities available-for-sale | NOTE 2 – INVESTMENT SECURITIES Investment Portfolio Composition . The following table summarizes the amortized cost and related fair value securities available-for-sale and securities held-to-maturity and the corresponding Available for Amortized Unrealized Unrealized Allowance for Fair (Dollars in Thousands) Cost Gains Losses Credit Losses Value March 31, 2022 U.S. Government Treasury $ 190,049 $ 15 $ 10,051 $ - $ 180,013 U.S. Government Agency 232,067 547 8,179 - 224,435 States and Political Subdivisions 47,107 11 3,753 (15) 43,350 Mortgage-Backed Securities (1) 91,169 15 5,121 - 86,063 Corporate Debt Securities 88,208 4 5,018 (21) 83,173 Other Securities (2) 7,327 - - - 7,327 Total $ 655,927 $ 592 $ 32,122 $ (36) $ 624,361 December 31, 2021 U.S. Government Treasury $ 190,409 $ 65 $ 2,606 $ - $ 187,868 U.S. Government Agency 238,490 1,229 2,141 - 237,578 States and Political Subdivisions 47,762 44 811 (15) 46,980 Mortgage-Backed Securities (1) 89,440 27 598 - 88,869 Corporate Debt Securities 87,537 10 1,304 (21) 86,222 Other Securities (2) 7,094 - - - 7,094 Total $ 660,732 $ 1,375 $ 7,460 $ (36) $ 654,611 Held to Maturity Amortized Unrealized Unrealized Fair (Dollars in Thousands) Cost Gains Losses Value March 31, 2022 U.S. Government Treasury $ 289,237 $ 10 $ 9,355 $ 279,892 Mortgage-Backed Securities (1) 229,441 414 8,470 221,385 Total $ 518,678 $ 424 $ 17,825 $ 501,277 December 31, 2021 U.S. Government Treasury $ 115,499 $ - $ 1,622 $ 113,877 Mortgage-Backed Securities (1) 224,102 2,819 1,099 225,822 Total $ 339,601 $ 2,819 $ 2,721 $ 339,699 (1) (2) Includes Federal Home Loan Bank and Federal Reserve Bank stock, recorded 2.3 5.1 respectively, 2.0 5.1 |
Schedule of investment securities with maturity distribution based on contractual maturities | Available for Held to Maturity (Dollars in Thousands) Amortized Cost Fair Value Amortized Cost Fair Value Due in one year or less $ 36,321 $ 34,519 $ - $ - Due after one year through five years 306,432 290,613 289,237 279,892 Due after five year through ten years 62,103 56,445 - - Mortgage-Backed Securities 91,169 86,063 229,441 221,385 U.S. Government Agency 152,575 149,394 - - Equity Securities 7,327 7,327 - - Total $ 655,927 $ 624,361 $ 518,678 $ 501,277 |
Schedule of investment securities with continuous unrealized loss position | Less Than Greater Than 12 Months 12 Months Total Fair Unrealized Fair Unrealized Fair Unrealized (Dollars in Thousands) Value Losses Value Losses Value Losses March 31, 2022 Available for U.S. Government Treasury $ 117,369 $ 6,723 $ 57,638 $ 3,328 $ 175,007 $ 10,051 U.S. Government Agency 122,572 5,952 43,637 2,227 166,209 8,179 States and Political Subdivisions 42,181 3,719 444 34 42,625 3,753 Mortgage-Backed Securities 85,848 5,121 - - 85,848 5,121 Corporate Debt Securities 79,718 5,018 - - 79,718 5,018 Total 447,688 26,533 101,719 5,589 549,407 32,122 Held to Maturity U.S. Government Treasury 261,362 9,355 - - 261,362 9,355 Mortgage-Backed Securities 166,472 7,633 10,496 837 176,968 8,470 Total $ 427,834 $ 16,988 $ 10,496 $ 837 $ 438,330 $ 17,825 December 31, 2021 Available for U.S. Government Treasury $ 172,206 $ 2,606 $ - $ - $ 172,206 $ 2,606 U.S. Government Agency 127,484 1,786 17,986 355 145,470 2,141 States and Political Subdivisions 42,122 811 - - 42,122 811 Mortgage-Backed Securities 81,832 598 - - 81,832 598 Corporate Debt Securities 69,354 1,304 - - 69,354 1,304 Total $ 492,998 $ 7,105 $ 17,986 $ 355 $ 510,984 $ 7,460 Held to Maturity U.S. Government Treasury 113,877 1,622 - - 113,877 1,622 Mortgage-Backed Securities 115,015 1,099 - - 115,015 1,099 Total $ 228,892 $ 2,721 $ - $ - $ 228,892 $ 2,721 |
LOANS HELD FOR INVESTMENT AND_2
LOANS HELD FOR INVESTMENT AND ALLOWANCE FOR CREDIT LOSSES (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Loans Held For Investment And Allowance For Credit Losses [Abstract] | |
Schedule of composition of the loan portfolio | (Dollars in Thousands) March 31, 2022 December 31, 2021 Commercial, Financial and Agricultural $ 230,213 $ 223,086 Real Estate – Construction 174,293 174,394 Real Estate – Commercial Mortgage 669,110 663,550 Real Estate – Residential (1) 374,712 360,021 Real Estate – Home Equity 188,174 187,821 Consumer (2) 349,007 322,593 Loans Held For Investment, Net of Unearned Income $ 1,985,509 $ 1,931,465 (1) Includes loans in process balances of $ 6.7 13.6 (2) Includes overdraft balances of $ 1.2 1.1 |
Schedule of activity in the allowance for loan losses by portfolio class | Commercial, Real Estate Financial, Real Estate Commercial Real Estate Real Estate (Dollars in Thousands) Agricultural Construction Mortgage Residential Home Equity Consumer Total Three Months Ended March 31, 2022 Beginning Balance $ 2,191 $ 3,302 $ 5,810 $ 4,129 $ 2,296 $ 3,878 $ 21,606 Provision for Credit Losses (161) (714) (181) 314 (405) 1,068 (79) Charge-Offs (73) - (266) - (33) (1,402) (1,774) Recoveries 165 8 29 27 58 716 1,003 Net (Charge-Offs) Recoveries 92 8 (237) 27 25 (686) (771) Ending Balance $ 2,122 $ 2,596 $ 5,392 $ 4,470 $ 1,916 $ 4,260 $ 20,756 Three Months Ended March 31, 2021 Beginning Balance $ 2,204 $ 2,479 $ 7,029 $ 5,440 $ 3,111 $ 3,553 $ 23,816 Provision for Credit Losses (314) (225) (718) (305) (655) (95) (2,312) Charge-Offs (69) - - (6) (5) (1,056) (1,136) Recoveries 136 - 645 75 124 678 1,658 Net (Charge-Offs) Recoveries 67 - 645 69 119 (378) 522 Ending Balance $ 1,957 $ 2,254 $ 6,956 $ 5,204 $ 2,575 $ 3,080 $ 22,026 |
Schedule of aging of the recorded investment in accruing past due loans by class of loans | 30-59 60-89 90 + Total Total Nonaccrual Total (Dollars in Thousands) DPD DPD DPD Past Due Current Loans Loans March 31, 2022 Commercial, Financial and Agricultural $ 205 $ 79 $ - $ 284 $ 229,898 $ 31 $ 230,213 Real Estate – Construction - - - - 174,293 - 174,293 Real Estate – Commercial Mortgage 502 - - 502 668,186 422 669,110 Real Estate – Residential 474 29 - 503 373,005 1,204 374,712 Real Estate – Home Equity 47 - - 47 187,283 844 188,174 Consumer 1,152 632 - 1,784 346,996 227 349,007 Total $ 2,380 $ 740 $ - $ 3,120 $ 1,979,661 $ 2,728 $ 1,985,509 December 31, 2021 Commercial, Financial and Agricultural $ 100 $ 23 $ - $ 123 $ 222,873 $ 90 $ 223,086 Real Estate – Construction - - - - 174,394 - 174,394 Real Estate – Commercial Mortgage 151 - - 151 662,795 604 663,550 Real Estate – Residential 365 151 - 516 357,408 2,097 360,021 Real Estate – Home Equity 210 - - 210 186,292 1,319 187,821 Consumer 1,964 636 - 2,600 319,781 212 322,593 Total $ 2,790 $ 810 $ - $ 3,600 $ 1,923,543 $ 4,322 $ 1,931,465 |
Schedule of recorded investment in nonaccrual loans and loans past due over 90 days and still on accrual by class of loans | March 31, 2022 December 31, 2021 Nonaccrual Nonaccrual Nonaccrual Nonaccrual With No With 90 + Days With No With 90 + Days (Dollars in Thousands) ACL ACL Still Accruing ACL ACL Still Accruing Commercial, Financial and Agricultural $ - $ 31 $ - $ 67 $ 23 $ - Real Estate – Construction - - - - - - Real Estate – Commercial Mortgage - 422 - - 604 - Real Estate – Residential 728 476 - 928 1,169 - Real Estate – Home Equity - 844 - 463 856 - Consumer - 227 - - 212 - Total Nonaccrual $ 728 $ 2,000 $ - $ 1,458 $ 2,864 $ - |
Amortized cost basis of collateral-dependent loans | March 31, 2022 December 31, 2021 Real Estate Non Real Estate Real Estate Non Real Estate (Dollars in Thousands) Secured Secured Secured Secured Commercial, Financial and Agricultural $ - $ - $ - $ 67 Real Estate – Construction - - - - Real Estate – Commercial Mortgage - - 455 - Real Estate – Residential 855 - 1,645 - Real Estate – Home Equity 601 - 649 - Consumer - - - - Total Collateral Dependent $ 1,456 $ - $ 2,749 $ 67 |
Summary of gross loans held for investment by years of origination | Term Revolving (Dollars in Thousands) 2022 2021 2020 2019 2018 Prior Loans Total Commercial, Financial, Agriculture: Pass $ 22,526 $ 60,369 $ 27,910 $ 26,368 $ 18,565 $ 18,863 $ 54,707 $ 229,308 Special Mention - 100 187 268 16 24 - 595 Substandard - - 58 - 184 68 - 310 Total $ 22,526 $ 60,469 $ 28,155 $ 26,636 $ 18,765 $ 18,955 $ 54,707 $ 230,213 Real Estate - Construction: Pass $ 11,641 $ 109,459 $ 42,522 $ 8,684 $ - $ 129 $ 1,858 $ 174,293 Total $ 11,641 $ 109,459 $ 42,522 $ 8,684 $ - $ 129 $ 1,858 $ 174,293 Real Estate - Commercial Mortgage: Pass $ 50,302 $ 165,574 $ 123,213 $ 73,444 $ 73,824 $ 131,407 $ 26,092 $ 643,856 Special Mention - - 410 1,750 2,615 5,761 1,250 11,786 Substandard - 10,055 405 640 - 2,298 70 13,468 Total $ 50,302 $ 175,629 $ 124,028 $ 75,834 $ 76,439 $ 139,466 $ 27,412 $ 669,110 Real Estate - Residential: Pass $ 46,698 $ 117,058 $ 55,670 $ 34,111 $ 23,957 $ 81,162 $ 6,255 $ 364,911 Special Mention 61 - 132 18 60 570 1,348 2,189 Substandard 74 576 1,007 1,085 971 3,899 - 7,612 Total $ 46,833 $ 117,634 $ 56,809 $ 35,214 $ 24,988 $ 85,631 $ 7,603 $ 374,712 Real Estate - Home Equity: Performing $ - $ 146 $ 13 $ 255 $ 130 $ 2,191 $ 184,595 $ 187,330 Nonperforming - - - 17 - - 827 844 Total $ - $ 146 $ 13 $ 272 $ 130 $ 2,191 $ 185,422 $ 188,174 Consumer: Performing $ 61,883 $ 159,135 $ 56,232 $ 33,402 $ 22,026 $ 10,370 $ 5,731 $ 348,779 Nonperforming - 58 59 22 58 31 - 228 Total $ 61,883 $ 159,193 $ 56,291 $ 33,424 $ 22,084 $ 10,401 $ 5,731 $ 349,007 |
MORTGAGE BANKING ACTIVITIES (Ta
MORTGAGE BANKING ACTIVITIES (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Mortgage Banking Activities [Abstract] | |
Residential Mortgage Loan Production | March 31, 2022 December 31, 2021 Unpaid Principal Unpaid Principal (Dollars in Thousands) Balance/Notional Fair Value Balance/Notional Fair Value Residential Mortgage Loans Held for Sale $ 49,991 $ 50,815 $ 50,733 $ 52,532 Residential Mortgage Loan Commitments ("IRLCs") (1) 99,399 1,117 51,883 1,258 Forward Sales Contracts (2) 55,000 850 48,000 (7) $ 52,782 $ 53,783 (1) Recorded in other assets at fair value (2) Recorded in other assets and other liabilities at fair value |
Mortgage banking revenue | Three Months Ended March 31, (Dollars in Thousands) 2022 2021 Net realized gains on sales of mortgage loans $ 5,136 $ 14,424 Net change in unrealized gain on mortgage loans held for sale (975) (2,031) Net change in the fair value of mortgage loan commitments (IRLCs) (141) (1,843) Net change in the fair value of forward sales contracts 857 2,263 Pair-Offs on net settlement of forward sales contracts 2,255 3,310 Mortgage servicing rights additions 632 187 Net origination fees 1,182 815 Total mortgage banking $ 8,946 $ 17,125 |
Summary of mortgage servicing rights | (Dollars in Thousands) March 31, 2022 December 31, 2021 Number of residential mortgage loans serviced for others 2,224 2,106 Outstanding principal balance of residential mortgage loans serviced $ 577,297 $ 532,967 Weighted average 3.62% 3.59% Remaining contractual term (in months) 317 317 |
Summary of mortgage servicing rights | Three Months Ended March 31, (Dollars in Thousands) 2022 2021 Beginning balance $ 3,774 $ 3,452 Additions due to loans sold with servicing retained 632 187 Deletions and amortization (405) (306) Valuation - 250 Ending balance $ 4,001 $ 3,583 |
Key unobservable inputs used in determining the fair value of mortgage servicing rights | March 31, 2022 December 31, 2021 Minimum Maximum Minimum Maximum Discount rates 10.00% 15.00% 11.00% 15.00% Annual prepayment speeds 7.12% 19.55% 11.98% 23.79% Cost of servicing (per loan) $ 60 $ 73 $ 60 $ 73 |
Warehouse Line Borrowings | Amounts (Dollars in Thousands) Outstanding $ 75 1.00% to plus 1.00% , with a floor rate of 3.25% . 0.5 6,705 $ 75 November 2022 . 2.25% , to 3.25% . 19,191 Total Warehouse $ 25,896 |
DERIVATIVES (Tables)
DERIVATIVES (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Derivatives [Abstract] | |
Cash flow hedges included in the Consolidated Statement of Financial Condition | Statement of Financial Notional Fair Weighted Average (Dollars in Thousands) Condition Location Amount Value March 31, 2022 Interest rate swaps related to subordinated debt Other Assets $ 30,000 $ 3,886 8.3 December 31, 2021 Interest rate swaps related to subordinated debt Other Assets $ 30,000 $ 2,050 8.5 |
Net gains (losses) recorded in accumulated other comprehensive income | Amount of Gain Amount of Gain (Loss) Recognized (Loss) Reclassified (Dollars in Thousands) Category in AOCI from AOCI to Income Three months ended March 31, 2022 Interest expense $ 1,370 $ (28) Three months ended March 31, 2021 Interest expense $ 1,587 (33) |
LEASES (Tables)
LEASES (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Leases [Abstract] | |
Summary of lease expense and other information related to operating leases | Three Months Ended March 31, (Dollars in Thousands) 2022 2021 Operating lease expense $ 384 $ 344 Short-term lease expense 179 140 Total lease expense $ 563 $ 484 Other information: Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 429 $ 385 Right-of-use assets obtained in exchange for new operating lease liabilities 592 75 Weighted average 24.9 25.5 Weighted average 2.0% 2.1% |
Summary of maturity of remaining lease liabilities | The table below summarizes the maturity of remaining lease liabilities: (Dollars in Thousands) March 31, 2022 2022 $ 1,581 2023 1,190 2024 1,120 2025 977 2026 875 2027 and thereafter 10,341 Total $ 16,084 Less: Interest (3,773) Present Value $ 12,311 |
EMPLOYEE BENEFIT PLANS (Tables)
EMPLOYEE BENEFIT PLANS (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Defined Benefit Plan Disclosure [Line Items] | |
Schedule of Components of Net Periodic Benefit Cost | Three Months Ended March 31, (Dollars in Thousands) 2022 2021 Service Cost $ 1,572 $ 1,743 Interest Cost 1,166 1,221 Expected Return on Plan Assets (2,675) (2,787) Prior Service Cost Amortization 4 4 Net Loss Amortization 428 1,691 Pension Settlement 209 - Net Periodic Benefit Cost $ 704 $ 1,872 Discount Rate Used for Benefit Cost 3.11% 2.88% Long-term Rate of Return on Assets 6.75% 6.75% |
Supplemental Executive Retirement Plan [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Schedule of Components of Net Periodic Benefit Cost | The components of the net periodic benefit cost for the Company's SERP plans were as follows: Three Months Ended March 31, (Dollars in Thousands) 2022 2021 Service Cost $ 8 $ 9 Interest Cost 79 59 Prior Service Cost Amortization 69 19 Net Loss Amortization 180 198 Net Periodic Benefit Cost $ 336 $ 285 Discount Rate Used for Benefit Cost 2.80% 2.38% |
COMMITMENTS AND CONTINGENCIES (
COMMITMENTS AND CONTINGENCIES (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Commitments and Contingencies [Abstract] | |
Schedule of amounts associated with the entities off-balance sheet obligations | March 31, 2022 December 31, 2021 (Dollars in Thousands) Fixed Variable Total Fixed Variable Total Commitments to Extend Credit $ 200,236 $ 563,634 $ 763,870 $ 217,531 $ 505,897 $ 723,428 Standby Letters of Credit 5,020 - 5,020 5,205 - 5,205 Total $ 205,256 $ 563,634 $ 768,890 $ 222,736 $ 505,897 $ 728,633 (1) Commitments include unfunded loans, revolving |
Allowance for credit losses for off-balance sheet credit commitments | Three Months Ended March 31, (Dollars in Thousands) 2022 2021 Beginning Balance $ 2,897 $ 1,644 Provision for Credit Losses 79 1,330 Ending Balance $ 2,976 $ 2,974 |
FAIR VALUE MEASUREMENTS (Tables
FAIR VALUE MEASUREMENTS (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Fair Value measurements [Abstract] | |
Schedule of financial assets and financial liabilities measured at fair value on a recurring basis | Level 1 Level 2 Level 3 Total (Dollars in Thousands) Inputs Inputs Inputs Value March 31, 2022 ASSETS: Securities Available for U.S. Government Treasury $ 180,013 $ - $ - $ 180,013 U.S. Government Agency - 224,435 - 224,435 States and Political Subdivisions - 43,350 - 43,350 Mortgage-Backed Securities - 86,063 - 86,063 Corporate Debt Securities - 83,173 - 83,173 Other Securities - 7,327 - 7,327 Loans Held for Sale - 50,815 - 50,815 Interest Rate Swap Derivative - 3,886 - 3,886 Mortgage Banking Hedge Derivative - 850 - 850 Mortgage Banking IRLC Derivative - - 1,117 1,117 Mortgage Servicing Rights - - 7,177 7,177 December 31, 2021 ASSETS: Securities Available for U.S. Government Treasury $ 187,868 $ - $ - $ 187,868 U.S. Government Agency - 237,578 - 237,578 States and Political Subdivisions - 46,980 - 46,980 Mortgage-Backed Securities - 88,869 - 88,869 Corporate Debt Securities - 86,222 - 86,222 Other Securities - 7,094 - 7,094 Loans Held for Sale - 52,532 - 52,532 Interest Rate Swap Derivative - 2,050 - 2,050 Mortgage Banking IRLC Derivative - - 1,258 1,258 Mortgage Servicing Rights - - 4,718 4,718 LIABILITIES: Mortgage Banking Hedge Derivative $ - $ 7 $ - $ 7 |
Schedule of financial instruments with estimated fair values | March 31, 2022 Carrying Level 1 Level 2 Level 3 (Dollars in Thousands) Value Inputs Inputs Inputs ASSETS: Cash $ 77,963 $ 77,963 $ - $ - Short-Term Investments 790,465 790,465 - - Investment Securities, Available 624,361 180,013 444,348 - Investment Securities, Held to Maturity 518,678 279,892 221,385 - Equity Securities (1) 855 - 855 - Loans Held for Sale 50,815 - 50,815 - Other Equity Securities (2) 2,898 - 2,898 - Interest Rate Swap Derivative 3,886 - 3,886 - Mortgage Banking Hedge Derivative 850 - 850 - Mortgage Servicing Rights 4,001 - - 7,177 Mortgage Banking IRLC Derivative 1,117 - - 1,117 Loans, Net of Allowance for Credit Losses 1,964,753 - - 1,934,570 LIABILITIES: Deposits $ 3,765,507 $ - $ 3,417,626 $ - Short-Term 30,865 - 30,865 - Subordinated Notes Payable 52,887 - 45,336 - Long-Term Borrowings 806 - 834 - December 31, 2021 Carrying Level 1 Level 2 Level 3 (Dollars in Thousands) Value Inputs Inputs Inputs ASSETS: Cash $ 65,313 $ 65,313 $ - $ - Short-Term Investments 970,041 970,041 - - Investment Securities, Available 654,611 187,868 466,743 - Investment Securities, Held to Maturity 339,601 113,877 225,822 - Equity Securities (1) 861 - 861 - Loans Held for Sale 52,532 - 52,532 - Other Equity Securities (2) 2,848 - 2,848 - Interest Rate Swap Derivative 2,050 - 2,050 - Mortgage Servicing Rights 3,774 - - 4,718 Mortgage Banking IRLC Derivative 1,258 - - 1,258 Loans, Net of Allowance for Credit Losses 1,909,859 - - 1,903,640 LIABILITIES: Deposits $ 3,712,862 $ - $ 3,713,478 $ - Short-Term 34,557 - 34,557 - Subordinated Notes Payable 52,887 - 42,609 - Long-Term Borrowings 884 - 938 - Mortgage Banking Hedge Derivative 7 - 7 - Not readily marketable securities - reflected (2) Accounted for under the equity method – not readily |
ACCUMULATED OTHER COMPREHENSI_2
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Accumulated other comprehensive income (loss) [Abstract] | |
Schedule of activity in accumulated other comprehensive loss, net of tax | Accumulated Securities Other Available Interest Rate Retirement Comprehensive (Dollars in Thousands) Swap Plans Balance as of January 1, 2022 $ (4,588) $ 1,530 $ (13,156) $ (16,214) Other comprehensive (loss) income during the period (19,055) 1,370 156 (17,529) Balance as of March 31, 2022 $ (23,643) $ 2,900 $ (13,000) $ (33,743) Balance as of January 1, 2021 $ 2,700 $ 428 $ (47,270) $ (44,142) Other comprehensive (loss) income during the period (1,458) 1,587 142 271 Balance as of March 31, 2021 $ 1,242 $ 2,015 $ (47,128) $ (43,871) |
BUSINESS AND BASIS OF PRESENT_3
BUSINESS AND BASIS OF PRESENTATION - Narrative (Details) - Strategic Wealth Group, LLC [Member] $ in Millions | Apr. 30, 2021USD ($)BankingOffices | Mar. 31, 2022 |
Business Acquisition [Line Items] | ||
Business Acquisition, Effective Date of Acquisition | Apr. 30, 2021 | |
Payments to Acquire Businesses, Gross | $ 4.5 | |
Intangible asset acquired | 1.6 | |
Goodwill acquired | $ 2.8 | |
Number of offices acquired | BankingOffices | 5 |
INVESTMENT SECURITIES (Investme
INVESTMENT SECURITIES (Investment Portfolio Composition) (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 |
Available-for-sale | ||
Amortized cost | $ 655,927 | $ 660,732 |
Unrealized Gains | 592 | 1,375 |
Unrealized Losses | 32,122 | 7,460 |
Allowance for Credit Losses | (36) | (36) |
Fair Value | 624,361 | 654,611 |
Federal Home Loan Bank | 2,300 | 2,000 |
Federal Reserve Bank stock | 5,100 | 5,100 |
Held to Maturity | ||
Amortized Cost | 518,678 | 339,601 |
Unrealized Gains | 424 | 2,819 |
Unrealized Losses | 17,825 | 2,721 |
Fair Value | 501,277 | 339,699 |
U.S. Government Treasury [Member] | ||
Available-for-sale | ||
Amortized cost | 190,049 | 190,409 |
Unrealized Gains | 15 | 65 |
Unrealized Losses | 10,051 | 2,606 |
Allowance for Credit Losses | 0 | 0 |
Fair Value | 180,013 | 187,868 |
Held to Maturity | ||
Amortized Cost | 289,237 | 115,499 |
Unrealized Gains | 10 | 0 |
Unrealized Losses | 9,355 | 1,622 |
Fair Value | 279,892 | 113,877 |
U.S. Government Agency [Member] | ||
Available-for-sale | ||
Amortized cost | 232,067 | 238,490 |
Unrealized Gains | 547 | 1,229 |
Unrealized Losses | 8,179 | 2,141 |
Allowance for Credit Losses | 0 | 0 |
Fair Value | 224,435 | 237,578 |
States and Political Subdivisions [Member] | ||
Available-for-sale | ||
Amortized cost | 47,107 | 47,762 |
Unrealized Gains | 11 | 44 |
Unrealized Losses | 3,753 | 811 |
Allowance for Credit Losses | (15) | (15) |
Fair Value | 43,350 | 46,980 |
Mortgage-Backed Securities [Member] | ||
Available-for-sale | ||
Amortized cost | 91,169 | 89,440 |
Unrealized Gains | 15 | 27 |
Unrealized Losses | 5,121 | 598 |
Allowance for Credit Losses | 0 | 0 |
Fair Value | 86,063 | 88,869 |
Held to Maturity | ||
Amortized Cost | 229,441 | 224,102 |
Unrealized Gains | 414 | 2,819 |
Unrealized Losses | 8,470 | 1,099 |
Fair Value | 221,385 | 225,822 |
Corporate Debt Securities [Member] | ||
Available-for-sale | ||
Amortized cost | 88,208 | 87,537 |
Unrealized Gains | 4 | 10 |
Unrealized Losses | 5,018 | 1,304 |
Allowance for Credit Losses | (21) | (21) |
Fair Value | 83,173 | 86,222 |
Other Securities [Member] | ||
Available-for-sale | ||
Amortized cost | 7,327 | 7,094 |
Unrealized Gains | 0 | 0 |
Unrealized Losses | 0 | 0 |
Allowance for Credit Losses | 0 | 0 |
Fair Value | $ 7,327 | $ 7,094 |
INVESTMENT SECURITIES (Maturity
INVESTMENT SECURITIES (Maturity Distribution) (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 |
Amortized Cost | ||
Due in one year or less | $ 36,321 | |
Due after one through five years | 306,432 | |
Due after five year through ten years | 62,103 | |
Total Amortized cost | 655,927 | $ 660,732 |
Market Value | ||
Due in one year or less | 34,519 | |
Due after one through five years | 290,613 | |
Due after five year through ten years | 56,445 | |
Fair Value | 624,361 | 654,611 |
Amortized Cost | ||
Due in one year or less | 0 | |
Due after one through five years | 289,237 | |
Due after five year through ten years | 0 | |
Total Investment Securities | 518,678 | 339,601 |
Fair Value | ||
Due in one year or less | 0 | |
Due after five year through ten years | 279,892 | |
Due after five year through ten years | 0 | |
Fair Value | 501,277 | 339,699 |
Mortgage-Backed Securities [Member] | ||
Amortized Cost | ||
Due without single maturity date | 91,169 | |
Total Amortized cost | 91,169 | 89,440 |
Market Value | ||
Due without single maturity date | 86,063 | |
Fair Value | 86,063 | 88,869 |
Amortized Cost | ||
Due without single maturity date | 229,441 | |
Total Investment Securities | 229,441 | 224,102 |
Fair Value | ||
Due without single maturity date | 221,385 | |
Fair Value | 221,385 | 225,822 |
U.S. Government Agency [Member] | ||
Amortized Cost | ||
Due without single maturity date | 152,575 | |
Total Amortized cost | 232,067 | 238,490 |
Market Value | ||
Due without single maturity date | 149,394 | |
Fair Value | 224,435 | $ 237,578 |
Amortized Cost | ||
Due without single maturity date | 0 | |
Fair Value | ||
Due without single maturity date | 0 | |
Equity Securities [Member] | ||
Amortized Cost | ||
Due without single maturity date | 7,327 | |
Market Value | ||
Due without single maturity date | 7,327 | |
Amortized Cost | ||
Due without single maturity date | 0 | |
Fair Value | ||
Due without single maturity date | $ 0 |
INVESTMENT SECURITIES (Unrealiz
INVESTMENT SECURITIES (Unrealized Losses on Investment Securities) (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 |
Available-for-sale securities | ||
Less Than 12 Months, Fair Value | $ 447,688 | $ 492,998 |
Less Than 12 Months, Unrealized Losses | 26,533 | 7,105 |
Greater Than 12 Months, Fair Value | 101,719 | 17,986 |
Greater Than 12 Months, Unrealized Losses | 5,589 | 355 |
Total Fair Value | 549,407 | 510,984 |
Total Unrealized Losses | 32,122 | 7,460 |
Held-to-maturity, Debt Securities | ||
Less Than 12 Months, Fair Value | 427,834 | 228,892 |
Less Than 12 Months, Unrealized Losses | 16,988 | 2,721 |
Greater Than 12 Months, Fair Value | 10,496 | 0 |
Greater Than 12 Months, Unrealized Losses | 837 | 0 |
Total Fair Value | 438,330 | 228,892 |
Total Unrealized Losses | 17,825 | 2,721 |
U.S. Government Treasury [Member] | ||
Available-for-sale securities | ||
Less Than 12 Months, Fair Value | 117,369 | 172,206 |
Less Than 12 Months, Unrealized Losses | 6,723 | 2,606 |
Greater Than 12 Months, Fair Value | 57,638 | 0 |
Greater Than 12 Months, Unrealized Losses | 3,328 | 0 |
Total Fair Value | 175,007 | 172,206 |
Total Unrealized Losses | 10,051 | 2,606 |
Held-to-maturity, Debt Securities | ||
Less Than 12 Months, Fair Value | 261,362 | 113,877 |
Less Than 12 Months, Unrealized Losses | 9,355 | 1,622 |
Greater Than 12 Months, Fair Value | 0 | 0 |
Greater Than 12 Months, Unrealized Losses | 0 | 0 |
Total Fair Value | 261,362 | 113,877 |
Total Unrealized Losses | 9,355 | 1,622 |
U.S. Government Agency [Member] | ||
Available-for-sale securities | ||
Less Than 12 Months, Fair Value | 122,572 | 127,484 |
Less Than 12 Months, Unrealized Losses | 5,952 | 1,786 |
Greater Than 12 Months, Fair Value | 43,637 | 17,986 |
Greater Than 12 Months, Unrealized Losses | 2,227 | 355 |
Total Fair Value | 166,209 | 145,470 |
Total Unrealized Losses | 8,179 | 2,141 |
States and Political Subdivisions [Member] | ||
Available-for-sale securities | ||
Less Than 12 Months, Fair Value | 42,181 | 42,122 |
Less Than 12 Months, Unrealized Losses | 3,719 | 811 |
Greater Than 12 Months, Fair Value | 444 | 0 |
Greater Than 12 Months, Unrealized Losses | 34 | 0 |
Total Fair Value | 42,625 | 42,122 |
Total Unrealized Losses | 3,753 | 811 |
Mortgage-Backed Securities [Member] | ||
Available-for-sale securities | ||
Less Than 12 Months, Fair Value | 85,848 | 81,832 |
Less Than 12 Months, Unrealized Losses | 5,121 | 598 |
Greater Than 12 Months, Fair Value | 0 | 0 |
Greater Than 12 Months, Unrealized Losses | 0 | 0 |
Total Fair Value | 85,848 | 81,832 |
Total Unrealized Losses | 5,121 | 598 |
Held-to-maturity, Debt Securities | ||
Less Than 12 Months, Fair Value | 166,472 | 115,015 |
Less Than 12 Months, Unrealized Losses | 7,633 | 1,099 |
Greater Than 12 Months, Fair Value | 10,496 | 0 |
Greater Than 12 Months, Unrealized Losses | 837 | 0 |
Total Fair Value | 176,968 | 115,015 |
Total Unrealized Losses | 8,470 | 1,099 |
Corporate Debt Securities [Member] | ||
Available-for-sale securities | ||
Less Than 12 Months, Fair Value | 79,718 | 69,354 |
Less Than 12 Months, Unrealized Losses | 5,018 | 1,304 |
Greater Than 12 Months, Fair Value | 0 | 0 |
Greater Than 12 Months, Unrealized Losses | 0 | 0 |
Total Fair Value | 79,718 | 69,354 |
Total Unrealized Losses | $ 5,018 | $ 1,304 |
INVESTMENT SECURITIES (Narrativ
INVESTMENT SECURITIES (Narrative) (Details) $ in Thousands | 3 Months Ended | |||
Mar. 31, 2022USD ($)Investment_Positions | Mar. 31, 2021USD ($) | Dec. 31, 2021USD ($) | Dec. 31, 2020USD ($) | |
Schedule of Available-for-sale Securities [Line Items] | ||||
Available-for-sale Securities and Held-to-maturity investments in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Total | Investment_Positions | 673 | |||
Available-for-sale Securities and Held-To-Maturity, Continuous Unrealized Loss Position Fair Value, Total | $ 49,900 | |||
Financing Receivable, Allowance for Credit Loss | 20,756 | $ 22,026 | $ 21,606 | $ 23,816 |
Securities pledged to secure public deposits | 453,300 | 463,800 | ||
Equity Securities | 855 | $ 861 | ||
Sales of investment securities | 3,365 | $ 0 | ||
AFS and HTM [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Financing Receivable, Allowance for Credit Loss | $ 100 | |||
U.S. Government Agency [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Available-for-sale Securities and Held-to-maturity investments in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Total | Investment_Positions | 553 | |||
Corporate debt and asset backed securities [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Available-for-sale Securities and Held-to-maturity investments in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Total | Investment_Positions | 72 | |||
Municipal securities [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Available-for-sale Securities and Held-to-maturity investments in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Total | Investment_Positions | 48 |
LOANS HELD FOR INVESTMENT AND_3
LOANS HELD FOR INVESTMENT AND ALLOWANCE FOR CREDIT LOSSES (Portfolio Composition) (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 |
Loan Portfolio Composition | ||
Loans Held For Investment, Net of Unearned Income | $ 1,985,509 | $ 1,931,465 |
Commercial, Financial and Agricultural [Member] | ||
Loan Portfolio Composition | ||
Loans Held For Investment, Net of Unearned Income | 230,213 | 223,086 |
Real Estate - Construction [Member] | ||
Loan Portfolio Composition | ||
Loans Held For Investment, Net of Unearned Income | 174,293 | 174,394 |
Real Estate - Commercial Mortgage [Member] | ||
Loan Portfolio Composition | ||
Loans Held For Investment, Net of Unearned Income | 669,110 | 663,550 |
Real Estate - Residential [Member] | ||
Loan Portfolio Composition | ||
Loans Held For Investment, Net of Unearned Income | 374,712 | 360,021 |
Loans in Process with outstanding balances | 6,700 | 13,600 |
Real Estate - Home Equity [Member] | ||
Loan Portfolio Composition | ||
Loans Held For Investment, Net of Unearned Income | 188,174 | 187,821 |
Consumer [Member] | ||
Loan Portfolio Composition | ||
Loans Held For Investment, Net of Unearned Income | 349,007 | 322,593 |
Overdraft Balances | $ 1,200 | $ 1,100 |
LOANS HELD FOR INVESTMENT AND_4
LOANS HELD FOR INVESTMENT AND ALLOWANCE FOR CREDIT LOSSES (Activity in the allowance for credit losses) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||
Beginning Balance | $ 21,606 | $ 23,816 |
Provision for Credit Losses | (79) | (2,312) |
Charge-Offs | (1,774) | (1,136) |
Recoveries | 1,003 | 1,658 |
Net (Charge-Offs) Recoveries | (771) | 522 |
Ending Balance | 20,756 | 22,026 |
Commercial, Financial and Agricultural [Member] | ||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||
Beginning Balance | 2,191 | 2,204 |
Provision for Credit Losses | (161) | (314) |
Charge-Offs | (73) | (69) |
Recoveries | 165 | 136 |
Net (Charge-Offs) Recoveries | 92 | 67 |
Ending Balance | 2,122 | 1,957 |
Real Estate - Construction [Member] | ||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||
Beginning Balance | 3,302 | 2,479 |
Provision for Credit Losses | (714) | (225) |
Charge-Offs | 0 | 0 |
Recoveries | 8 | 0 |
Net (Charge-Offs) Recoveries | 8 | 0 |
Ending Balance | 2,596 | 2,254 |
Real Estate - Commercial Mortgage [Member] | ||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||
Beginning Balance | 5,810 | 7,029 |
Provision for Credit Losses | (181) | (718) |
Charge-Offs | (266) | 0 |
Recoveries | 29 | 645 |
Net (Charge-Offs) Recoveries | (237) | 645 |
Ending Balance | 5,392 | 6,956 |
Real Estate - Residential [Member] | ||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||
Beginning Balance | 4,129 | 5,440 |
Provision for Credit Losses | 314 | (305) |
Charge-Offs | 0 | (6) |
Recoveries | 27 | 75 |
Net (Charge-Offs) Recoveries | 27 | 69 |
Ending Balance | 4,470 | 5,204 |
Real Estate - Home Equity [Member] | ||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||
Beginning Balance | 2,296 | 3,111 |
Provision for Credit Losses | (405) | (655) |
Charge-Offs | (33) | (5) |
Recoveries | 58 | 124 |
Net (Charge-Offs) Recoveries | 25 | 119 |
Ending Balance | 1,916 | 2,575 |
Consumer [Member] | ||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||
Beginning Balance | 3,878 | 3,553 |
Provision for Credit Losses | 1,068 | (95) |
Charge-Offs | (1,402) | (1,056) |
Recoveries | 716 | 678 |
Net (Charge-Offs) Recoveries | (686) | (378) |
Ending Balance | $ 4,260 | $ 3,080 |
LOANS HELD FOR INVESTMENT AND_5
LOANS HELD FOR INVESTMENT AND ALLOWANCE FOR CREDIT LOSSES (Loan Portfolio Aging) (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans | $ 2,728 | $ 4,322 |
Total Loans | 1,985,509 | 1,931,465 |
Total Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 3,120 | 3,600 |
Total Current [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 1,979,661 | 1,923,543 |
30-59 DPD [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 2,380 | 2,790 |
60-89 DPD [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 740 | 810 |
90 +DPD [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 0 | 0 |
Commercial, Financial and Agricultural [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 230,213 | |
Nonaccrual loans | 31 | 90 |
Total Loans | 230,213 | 223,086 |
Commercial, Financial and Agricultural [Member] | Total Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 284 | 123 |
Commercial, Financial and Agricultural [Member] | Total Current [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 229,898 | 222,873 |
Commercial, Financial and Agricultural [Member] | 30-59 DPD [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 205 | 100 |
Commercial, Financial and Agricultural [Member] | 60-89 DPD [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 79 | 23 |
Commercial, Financial and Agricultural [Member] | 90 +DPD [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 0 | 0 |
Real Estate - Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 174,293 | |
Nonaccrual loans | 0 | 0 |
Total Loans | 174,293 | 174,394 |
Real Estate - Construction [Member] | Total Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 0 | 0 |
Real Estate - Construction [Member] | Total Current [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 174,293 | 174,394 |
Real Estate - Construction [Member] | 30-59 DPD [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 0 | 0 |
Real Estate - Construction [Member] | 60-89 DPD [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 0 | 0 |
Real Estate - Construction [Member] | 90 +DPD [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 0 | 0 |
Real Estate - Commercial Mortgage [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 669,110 | |
Nonaccrual loans | 422 | 604 |
Total Loans | 669,110 | 663,550 |
Real Estate - Commercial Mortgage [Member] | Total Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 502 | 151 |
Real Estate - Commercial Mortgage [Member] | Total Current [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 668,186 | 662,795 |
Real Estate - Commercial Mortgage [Member] | 30-59 DPD [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 502 | 151 |
Real Estate - Commercial Mortgage [Member] | 60-89 DPD [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 0 | 0 |
Real Estate - Commercial Mortgage [Member] | 90 +DPD [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 0 | 0 |
Real Estate - Residential [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 374,712 | |
Nonaccrual loans | 1,204 | 2,097 |
Total Loans | 374,712 | 360,021 |
Real Estate - Residential [Member] | Total Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 503 | 516 |
Real Estate - Residential [Member] | Total Current [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 373,005 | 357,408 |
Real Estate - Residential [Member] | 30-59 DPD [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 474 | 365 |
Real Estate - Residential [Member] | 60-89 DPD [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 29 | 151 |
Real Estate - Residential [Member] | 90 +DPD [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 0 | 0 |
Real Estate - Home Equity [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 188,174 | |
Nonaccrual loans | 844 | 1,319 |
Total Loans | 188,174 | 187,821 |
Real Estate - Home Equity [Member] | Total Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 47 | 210 |
Real Estate - Home Equity [Member] | Total Current [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 187,283 | 186,292 |
Real Estate - Home Equity [Member] | 30-59 DPD [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 47 | 210 |
Real Estate - Home Equity [Member] | 60-89 DPD [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 0 | 0 |
Real Estate - Home Equity [Member] | 90 +DPD [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 0 | 0 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 349,007 | |
Nonaccrual loans | 227 | 212 |
Total Loans | 349,007 | 322,593 |
Consumer [Member] | Total Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 1,784 | 2,600 |
Consumer [Member] | Total Current [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 346,996 | 319,781 |
Consumer [Member] | 30-59 DPD [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 1,152 | 1,964 |
Consumer [Member] | 60-89 DPD [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | 632 | 636 |
Consumer [Member] | 90 +DPD [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable | $ 0 | $ 0 |
LOANS HELD FOR INVESTMENT AND_6
LOANS HELD FOR INVESTMENT AND ALLOWANCE FOR CREDIT LOSSES (Recorded Investment In Nonaccrual and Past Due Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual, with ACL | $ 728 | $ 1,458 |
Nonaccrual With No ACL | 2,000 | 2,864 |
90+ Days Still Accruing | 0 | 0 |
Commercial, Financial and Agricultural [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual, with ACL | 0 | 67 |
Nonaccrual With No ACL | 31 | 23 |
90+ Days Still Accruing | 0 | 0 |
Real Estate - Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual, with ACL | 0 | 0 |
Nonaccrual With No ACL | 0 | 0 |
90+ Days Still Accruing | 0 | 0 |
Real Estate - Commercial Mortgage [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual, with ACL | 0 | 0 |
Nonaccrual With No ACL | 422 | 604 |
90+ Days Still Accruing | 0 | 0 |
Real Estate - Residential [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual, with ACL | 728 | 928 |
Nonaccrual With No ACL | 476 | 1,169 |
90+ Days Still Accruing | 0 | 0 |
Real Estate - Home Equity [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual, with ACL | 0 | 463 |
Nonaccrual With No ACL | 844 | 856 |
90+ Days Still Accruing | 0 | 0 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual, with ACL | 0 | 0 |
Nonaccrual With No ACL | 227 | 212 |
90+ Days Still Accruing | $ 0 | $ 0 |
LOANS HELD FOR INVESTMENT AND_7
LOANS HELD FOR INVESTMENT AND ALLOWANCE FOR CREDIT LOSSES (Collateral-dependent loans) (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 |
Asset Pledged as Collateral [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Financing Receivable | $ 2,800 | $ 1,500 |
Real estate secured [Member] | Asset Pledged as Collateral [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Financing Receivable | 1,456 | 2,749 |
Non real estate secured [Member] | Asset Pledged as Collateral [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Financing Receivable | 0 | 67 |
Commercial, Financial and Agricultural [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Financing Receivable | 230,213 | |
Commercial, Financial and Agricultural [Member] | Real estate secured [Member] | Asset Pledged as Collateral [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Financing Receivable | 0 | 0 |
Commercial, Financial and Agricultural [Member] | Non real estate secured [Member] | Asset Pledged as Collateral [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Financing Receivable | 0 | 67 |
Real Estate - Construction [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Financing Receivable | 174,293 | |
Real Estate - Construction [Member] | Real estate secured [Member] | Asset Pledged as Collateral [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Financing Receivable | 0 | 0 |
Real Estate - Construction [Member] | Non real estate secured [Member] | Asset Pledged as Collateral [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Financing Receivable | 0 | 0 |
Real Estate - Commercial Mortgage [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Financing Receivable | 669,110 | |
Real Estate - Commercial Mortgage [Member] | Real estate secured [Member] | Asset Pledged as Collateral [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Financing Receivable | 0 | 455 |
Real Estate - Commercial Mortgage [Member] | Non real estate secured [Member] | Asset Pledged as Collateral [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Financing Receivable | 0 | 0 |
Real Estate - Residential [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Financing Receivable | 374,712 | |
Real Estate - Residential [Member] | Real estate secured [Member] | Asset Pledged as Collateral [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Financing Receivable | 855 | 1,645 |
Real Estate - Residential [Member] | Non real estate secured [Member] | Asset Pledged as Collateral [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Financing Receivable | 0 | 0 |
Real Estate - Home Equity [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Financing Receivable | 188,174 | |
Real Estate - Home Equity [Member] | Real estate secured [Member] | Asset Pledged as Collateral [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Financing Receivable | 601 | 649 |
Real Estate - Home Equity [Member] | Non real estate secured [Member] | Asset Pledged as Collateral [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Financing Receivable | 0 | 0 |
Consumer [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Financing Receivable | 349,007 | |
Consumer [Member] | Real estate secured [Member] | Asset Pledged as Collateral [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Financing Receivable | 0 | 0 |
Consumer [Member] | Non real estate secured [Member] | Asset Pledged as Collateral [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Financing Receivable | $ 0 | $ 0 |
LOANS HELD FOR INVESTMENT AND_8
LOANS HELD FOR INVESTMENT AND ALLOWANCE FOR CREDIT LOSSES (Loans held for investment by years of origination) (Details) $ in Thousands | Mar. 31, 2022USD ($) |
Commercial, Financial and Agricultural [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2022 | $ 22,526 |
2021 | 60,469 |
2020 | 28,155 |
2019 | 26,636 |
2018 | 18,765 |
Prior | 18,955 |
Revolving Loans | 54,707 |
Total | 230,213 |
Real Estate - Construction [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2022 | 11,641 |
2021 | 109,459 |
2020 | 42,522 |
2019 | 8,684 |
2018 | 0 |
Prior | 129 |
Revolving Loans | 1,858 |
Total | 174,293 |
Real Estate - Commercial Mortgage [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2022 | 50,302 |
2021 | 175,629 |
2020 | 124,028 |
2019 | 75,834 |
2018 | 76,439 |
Prior | 139,466 |
Revolving Loans | 27,412 |
Total | 669,110 |
Real Estate - Residential [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2022 | 46,833 |
2021 | 117,634 |
2020 | 56,809 |
2019 | 35,214 |
2018 | 24,988 |
Prior | 85,631 |
Revolving Loans | 7,603 |
Total | 374,712 |
Real Estate - Home Equity [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2022 | 0 |
2021 | 146 |
2020 | 13 |
2019 | 272 |
2018 | 130 |
Prior | 2,191 |
Revolving Loans | 185,422 |
Total | 188,174 |
Real Estate - Home Equity [Member] | Performing Financial Instruments [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2022 | 0 |
2021 | 146 |
2020 | 13 |
2019 | 255 |
2018 | 130 |
Prior | 2,191 |
Revolving Loans | 184,595 |
Total | 187,330 |
Real Estate - Home Equity [Member] | Nonperforming Financial Instruments [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2022 | 0 |
2021 | 0 |
2020 | 0 |
2019 | 17 |
2018 | 0 |
Prior | 0 |
Revolving Loans | 827 |
Total | 844 |
Consumer [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2022 | 61,883 |
2021 | 159,193 |
2020 | 56,291 |
2019 | 33,424 |
2018 | 22,084 |
Prior | 10,401 |
Revolving Loans | 5,731 |
Total | 349,007 |
Consumer [Member] | Performing Financial Instruments [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2022 | 61,883 |
2021 | 159,135 |
2020 | 56,232 |
2019 | 33,402 |
2018 | 22,026 |
Prior | 10,370 |
Revolving Loans | 5,731 |
Total | 348,779 |
Consumer [Member] | Nonperforming Financial Instruments [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2022 | 0 |
2021 | 58 |
2020 | 59 |
2019 | 22 |
2018 | 58 |
Prior | 31 |
Revolving Loans | 0 |
Total | 228 |
Pass [Member] | Commercial, Financial and Agricultural [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2022 | 22,526 |
2021 | 60,369 |
2020 | 27,910 |
2019 | 26,368 |
2018 | 18,565 |
Prior | 18,863 |
Revolving Loans | 54,707 |
Total | 229,308 |
Pass [Member] | Real Estate - Construction [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2022 | 11,641 |
2021 | 109,459 |
2020 | 42,522 |
2019 | 8,684 |
2018 | 0 |
Prior | 129 |
Revolving Loans | 1,858 |
Total | 174,293 |
Pass [Member] | Real Estate - Commercial Mortgage [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2022 | 50,302 |
2021 | 165,574 |
2020 | 123,213 |
2019 | 73,444 |
2018 | 73,824 |
Prior | 131,407 |
Revolving Loans | 26,092 |
Total | 643,856 |
Pass [Member] | Real Estate - Residential [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2022 | 46,698 |
2021 | 117,058 |
2020 | 55,670 |
2019 | 34,111 |
2018 | 23,957 |
Prior | 81,162 |
Revolving Loans | 6,255 |
Total | 364,911 |
Special Mention [Member] | Commercial, Financial and Agricultural [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2022 | 0 |
2021 | 100 |
2020 | 187 |
2019 | 268 |
2018 | 16 |
Prior | 24 |
Revolving Loans | 0 |
Total | 595 |
Special Mention [Member] | Real Estate - Commercial Mortgage [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2022 | 0 |
2021 | 0 |
2020 | 410 |
2019 | 1,750 |
2018 | 2,615 |
Prior | 5,761 |
Revolving Loans | 1,250 |
Total | 11,786 |
Special Mention [Member] | Real Estate - Residential [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2022 | 61 |
2021 | 0 |
2020 | 132 |
2019 | 18 |
2018 | 60 |
Prior | 570 |
Revolving Loans | 1,348 |
Total | 2,189 |
Substandard [Member] | Commercial, Financial and Agricultural [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2022 | 0 |
2021 | 0 |
2020 | 58 |
2019 | 0 |
2018 | 184 |
Prior | 68 |
Revolving Loans | 0 |
Total | 310 |
Substandard [Member] | Real Estate - Commercial Mortgage [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2022 | 0 |
2021 | 10,055 |
2020 | 405 |
2019 | 640 |
2018 | 0 |
Prior | 2,298 |
Revolving Loans | 70 |
Total | 13,468 |
Substandard [Member] | Real Estate - Residential [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2022 | 74 |
2021 | 576 |
2020 | 1,007 |
2019 | 1,085 |
2018 | 971 |
Prior | 3,899 |
Revolving Loans | 0 |
Total | $ 7,612 |
LOANS HELD FOR INVESTMENT AND_9
LOANS HELD FOR INVESTMENT AND ALLOWANCE FOR CREDIT LOSSES, (Narratives) (Details) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2022USD ($)Contracts | Mar. 31, 2021USD ($)Contracts | Dec. 31, 2021USD ($) | |
Provision for Credit Losses | $ (79) | $ (2,312) | |
Net loan charge-offs | 771 | (522) | |
Change in financing receivable allowance | (900) | $ (1,800) | |
Accrued interest receivable | 5,800 | $ 5,300 | |
TDRs | 7,500 | 8,000 | |
TDRs performing in accordance with modified terms | 7,300 | 7,600 | |
Estimated loan loss reserves | 300 | 300 | |
Real estate loans for which formal foreclosure proceedings were in process | $ 900 | 900 | |
Number of Contracts | Contracts | 0 | 2 | |
Number of loan contracts classified as TDRs | Contracts | 0 | 0 | |
Loan modified with a recorded investment | $ 400 | ||
Loans and Leases Receivable net deferred costs | $ 4,400 | $ 3,900 | |
CCHL [Member] | |||
Payments to Purchase Mortgage Loans Held-for-sale | $ 26,300 | $ 22,200 |
MORTGAGE BANKING ACTIVITIES (Un
MORTGAGE BANKING ACTIVITIES (Unpaid principal balance of residential mortgage loans) (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 |
Other Assets | $ 106,407 | $ 94,349 |
Other Liabilities | 77,323 | 67,735 |
Loans Held For Sale, at Fair Value | 50,815 | 52,532 |
Residential Mortgage [Member] | ||
Loans Held for Sale | 49,991 | 50,733 |
Loans Held For Sale, at Fair Value | 50,815 | 52,532 |
Fair Value | 52,782 | 53,783 |
Residential Mortgage [Member] | Loan Commitments (IRLCs) [Member] | ||
Other Assets | 99,399 | 51,883 |
Other AssetsFair Value | 1,117 | 1,258 |
Residential Mortgage [Member] | Forward Sales Contracts [Member] | ||
Other Liabilities | 55,000 | 48,000 |
Other AssetsFair Value | $ 850 | |
Other Liabilities at Fair Value | $ (7) |
MORTGAGE BANKING ACTIVITIES (Mo
MORTGAGE BANKING ACTIVITIES (Mortgage banking revenue) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Mortgage Servicing Rights Additions | $ 632 | |
Mortgage banking [Member] | ||
Net Realized Gains on Sales of Mortgage Loans | 5,136 | $ 14,424 |
Net Change in Unrealized Gain on Mortgage Loans Held for Sale | (975) | (2,031) |
Net Change in the Fair Value of Mortgage Loan Commitments (IRLCs) | (141) | (1,843) |
Net Change in the Fair Value of Forward Sales Contracts | 857 | 2,263 |
Pair-Offs on Net Settlement of Forward Sales Contracts | 2,255 | 3,310 |
Mortgage Servicing Rights Additions | 632 | 187 |
Net orignination fees | 1,182 | 815 |
Total mortgage banking revenues | $ 8,946 | $ 17,125 |
MORTGAGE BANKING ACTIVITIES (Su
MORTGAGE BANKING ACTIVITIES (Summary of mortgage servicing rights) (Details) - Residential Mortgage [Member] $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2022USD ($)Contracts | Dec. 31, 2021USD ($)Contracts | |
Servicing Assets at Fair Value [Line Items] | ||
Number of residential mortgage loans serviced for others | Contracts | 2,224 | 2,106 |
Outstanding principal balance of residential mortgage loans serviced for others | $ | $ 577,297 | $ 532,967 |
Weighted average interest rate | 3.62% | 3.59% |
Remaining contractual term (in months) | 317 months | 317 months |
MORTGAGE BANKING ACTIVITIES (Ca
MORTGAGE BANKING ACTIVITIES (Capitalized mortgage servicing rights) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Servicing Asset at Fair Value, Amount [Roll Forward | ||
Beginning Balance | $ 3,774 | $ 3,452 |
Additions due to loans sold with servicing retained | 632 | 187 |
Deletions and amortization | (405) | (306) |
Valuation Provision (temporary impairment) | 0 | 250 |
Ending Balance | $ 4,001 | $ 3,583 |
MORTGAGE BANKING ACTIVITIES (Ke
MORTGAGE BANKING ACTIVITIES (Key unobservable inputs used in determining the fair value) (Details) - $ / LoanContracts | 3 Months Ended | 12 Months Ended |
Mar. 31, 2022 | Dec. 31, 2021 | |
Maximum [Member] | ||
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value [Abstract] | ||
Discount rates | 15.00% | 15.00% |
Annual prepayment speeds | 19.55% | 23.79% |
Cost of servicing (per loan) | 73 | 73 |
Minimum [Member] | ||
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value [Abstract] | ||
Discount rates | 10.00% | 11.00% |
Annual prepayment speeds | 7.12% | 11.98% |
Cost of servicing (per loan) | 60 | 60 |
MORTGAGE BANKING ACTIVITIES (Wa
MORTGAGE BANKING ACTIVITIES (Warehouse Line Borrowings) (Details) - Warehouse Line Borrowings [Member] - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2022 | Dec. 31, 2021 | |
Short-term Debt [Line Items] | ||
Line of credit outstanding | $ 25,896 | $ 29,000 |
Master Repurchase Agreement [Member] | ||
Short-term Debt [Line Items] | ||
Line of Credit Facility, Maximum Borrowing Capacity | $ 75,000 | |
Debt Instrument, Description of Variable Rate Basis | Interest is at the Prime rate minus 1.00% to plus 1.00% | |
Floor rate | 3.25% | |
Line of credit outstanding | $ 6,705 | |
Cash pledge deposit | $ 500 | |
Master Repurchase Agreement [Member] | Maximum [Member] | ||
Short-term Debt [Line Items] | ||
Debt Instrument, Basis Spread on Variable Rate | 1.00% | |
Master Repurchase Agreement [Member] | Minimum [Member] | ||
Short-term Debt [Line Items] | ||
Debt Instrument, Basis Spread on Variable Rate | 1.00% | |
Line of credit expiring November 2022 | ||
Short-term Debt [Line Items] | ||
Line of Credit Facility, Maximum Borrowing Capacity | $ 75,000 | |
Debt Instrument, Description of Variable Rate Basis | Interest is at the SOFR plus 2.25%, to 3.25% | |
Line of credit outstanding | $ 19,191 | |
Line of Credit Facility, Expiration Date | Nov. 30, 2022 | |
Line of credit expiring November 2022 | Maximum [Member] | ||
Short-term Debt [Line Items] | ||
Debt Instrument, Basis Spread on Variable Rate | 3.25% | |
Line of credit expiring November 2022 | Minimum [Member] | ||
Short-term Debt [Line Items] | ||
Debt Instrument, Basis Spread on Variable Rate | 2.25% |
MORTGAGE BANKING ACTIVITIES (Na
MORTGAGE BANKING ACTIVITIES (Narrative) (Details) - USD ($) | 3 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Dec. 31, 2021 | |
Mortgage Banking Activities [Abstract] | |||
Residential mortgage loans held for sale that were 90 days or more outstanding | $ 0 | ||
Residential mortgage loans held for sale 30 to 60 days outstanding | $ 200,000 | ||
Percentage of FNMA loan type of total loans serviced | 60.00% | ||
Percentage of GNMA loan type of total loans serviced | 8.00% | ||
Percentage of Private Investor loan type of total loans serviced | 32.00% | ||
Weighted average prepayment speed | 10.56% | 15.85% | |
Warehouse lines of credit extended to CCHL | $ 50,000,000 | ||
Balance of lines of credit receivable from CCHL | 15,300,000 | $ 14,800,000 | |
Mortgage Servicing Rights (MSR) Impairment (Recovery) | 0 | $ 0 | |
Warehouse Agreement Borrowings [Member] | |||
Servicing Asset at Amortized Cost [Line Items] | |||
Line of credit outstanding | $ 25,896,000 | 29,000,000 | |
CCHL Subsidiary [Member] | |||
Servicing Asset at Amortized Cost [Line Items] | |||
Interest in CCHL subsidiary entity | 51.00% | ||
Government National Mortgage Association (GNMA) [Member] | Delinquent or defaulted mortgage loans [Member] | |||
Servicing Asset at Amortized Cost [Line Items] | |||
Servicing Asset at Amortized Cost | $ 1,300,000 | $ 2,000,000 | |
Payments to Acquire Mortgage Servicing Rights (MSR) | $ 400,000 | $ 1,500,000 |
DERIVATIVES (Cash flow hedges i
DERIVATIVES (Cash flow hedges included in the Consolidated Statement of Financial Condition) (Details) - Interest rate swaps related to subordinated debt [Member] - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2022 | Dec. 31, 2021 | |
Derivatives, Fair Value [Line Items] | ||
Notional Amount | $ 30,000 | $ 30,000 |
Fair Value | $ 3,886 | $ 2,050 |
Weighted average rate paid (fixed) | 2.50% | |
Weighted average maturity years | 8 years 3 months 18 days | 8 years 6 months |
LIBOR plus a weighted average margin | 1.83% |
DERIVATIVES (Net gains (losses)
DERIVATIVES (Net gains (losses) recorded in accumulated other comprehensive income) (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Dec. 31, 2021 | |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||
Collateral liability | $ 4,000 | $ 2,000 | |
Interest rate product [Member] | |||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||
Amount of Gain (Loss) Recognized in AOCI | 1,370 | $ 1,587 | |
Amount of Gain (Loss) Reclassified from AOCI to Income | (28) | $ (33) | |
Interest Rate Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net | $ 100 |
LEASES (Narrative) (Details)
LEASES (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2022 | Dec. 31, 2021 | |
Lesse lease description [Line Items] | ||
Lesse operating lease description | Operating leases with an initial term of 12 months or less are not recorded on the Consolidated Statement of Financial Condition and the related lease expense is recognized on a straight-line basis over the lease term. | |
Operating lease right of use asset | $ 11,700 | $ 11,500 |
Present Value of Lease liability | $ 12,311 | $ 12,200 |
Lessee, Operating Lease, Lease Not yet Commenced, Description | Payments for the banking offices are expected to commence after the construction periods end, which are each expected to occur during the fourth quarter of 2022 and the first quarter of 2023. | |
Total lease payments | $ 16,084 | |
Three Lease Arrangements [Member] | ||
Lesse lease description [Line Items] | ||
Lessee operating lease term of contract | 15 years | |
Total lease payments | $ 9,300 | |
Fourth Lease Arrangement [Member] | ||
Lesse lease description [Line Items] | ||
Lessee operating lease term of contract | 10 years | |
Total lease payments | $ 1,400 | |
Lease payment transaction [Member] | ||
Lesse lease description [Line Items] | ||
Present Value of Lease liability | 500 | |
Operating lease, minimum annual payment | $ 200 | |
Minimum [Member] | ||
Lesse lease description [Line Items] | ||
Remaining lease terms | 1 year | |
Maximum [Member] | ||
Lesse lease description [Line Items] | ||
Remaining lease terms | 44 years |
LEASES (Lease expense and other
LEASES (Lease expense and other information related to operating leases) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Lease expenses: | ||
Operating lease expense | $ 384 | $ 344 |
Short term lease expense | 179 | 140 |
Total lease expense | 563 | 484 |
Other information [Abstract] | ||
Operating cash flows from operating leases | 429 | 385 |
Right-of-use assets obtained in exchange for new operating lease liabilities | $ 592 | $ 75 |
Weighted-average remaining lease term - operating leases (in years) | 24 years 10 months 24 days | 25 years 6 months |
Weighted-average discount rate - operating leases | 2.00% | 2.10% |
LEASES (Maturity of remaining l
LEASES (Maturity of remaining lease liabilities) (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 |
Summary of the maturity of remaining lease liabilities: | ||
2022 | $ 1,581 | |
2023 | 1,190 | |
2024 | 1,120 | |
2025 | 977 | |
2026 | 875 | |
2027 and thereafter | 10,341 | |
Total | 16,084 | |
Less: Interest | (3,773) | |
Present Value of Lease Liabilities | $ 12,311 | $ 12,200 |
EMPLOYEE BENEFIT PLANS (Compone
EMPLOYEE BENEFIT PLANS (Components of the net periodic benefit cost) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Components of Net Periodic Benefit Costs: | ||
Pension Settlement | $ 209 | $ 0 |
Defined Benefit Pension Plan [Member] | ||
Components of Net Periodic Benefit Costs: | ||
Service Cost | 1,572 | 1,743 |
Interest Cost | 1,166 | 1,221 |
Expected Return on Plan Assets | (2,675) | (2,787) |
Prior Service Cost Amortization | 4 | 4 |
Net Loss Amortization | 428 | 1,691 |
Pension Settlement | 209 | 0 |
Net Periodic Benefit Cost | $ 704 | $ 1,872 |
Discount Rate Used for Benefit Cost | 3.11% | 2.88% |
Long-Term Rate of Return on Assets | 6.75% | 6.75% |
Supplemental Executive Retirement Plan [Member] | ||
Components of Net Periodic Benefit Costs: | ||
Service Cost | $ 8 | $ 9 |
Interest Cost | 79 | 59 |
Prior Service Cost Amortization | 69 | 19 |
Net Loss Amortization | 180 | 198 |
Net Periodic Benefit Cost | $ 336 | $ 285 |
Discount Rate Used for Benefit Cost | 2.80% | 2.38% |
COMMITMENTS AND CONTINGENCIES_2
COMMITMENTS AND CONTINGENCIES (Company's off-balance sheet obligations) (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 |
Loss Contingencies [Line Items] | ||
Fixed | $ 205,256 | $ 222,736 |
Variable | 563,634 | 505,897 |
Total | 768,890 | 728,633 |
Commitments to Extend Credit [Member] | ||
Loss Contingencies [Line Items] | ||
Fixed | 200,236 | 217,531 |
Variable | 563,634 | 505,897 |
Total | 763,870 | 723,428 |
Standby Letters of Credit [Member] | ||
Loss Contingencies [Line Items] | ||
Fixed | 5,020 | 5,205 |
Variable | 0 | 0 |
Total | $ 5,020 | $ 5,205 |
COMMITMENTS AND CONTINGENCIES_3
COMMITMENTS AND CONTINGENCIES (Allowance for credit losses for off-balance sheet credit commitments) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Beginning Balance | $ 2,897 | $ 1,644 |
Provision for Credit Losses | 79 | 1,330 |
Ending Balance | $ 2,976 | $ 2,974 |
COMMITMENTS AND CONTINGENCIES N
COMMITMENTS AND CONTINGENCIES Narratives (Details) $ in Millions | 3 Months Ended |
Mar. 31, 2022USD ($) | |
Loss Contingencies [Line Items] | |
Loss Contingency Quarterly Accrual Payments until settled | $ 0.2 |
BankTech Ventures [Member] | |
Other Commitments [Line Items] | |
Other Commitment | 1 |
General Partners' Contributed Capital | $ 0.1 |
FAIR VALUE MEASUREMENTS (Summar
FAIR VALUE MEASUREMENTS (Summary of fair values for assets and liabilities) (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 |
Mortgage Servicing Rights [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | $ 4,718 | |
Level 1 Inputs [Member] | Mortgage Servicing Rights [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 0 | |
Level 2, Inputs [Member] | Mortgage Servicing Rights [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 0 | |
Level 3, Inputs [Member] | Mortgage Servicing Rights [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 4,718 | |
Fair Value, Measurements, Recurring [Member] | Interest Rate Swap Derivative [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | $ 3,886 | 2,050 |
Fair Value, Measurements, Recurring [Member] | Mortgage Banking Hedge Derivative [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 850 | |
LIABILITIES: | ||
Financial Liabilities Fair Value Disclosure | 7 | |
Fair Value, Measurements, Recurring [Member] | Mortgage Banking IRLC Derivative [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 1,117 | 1,258 |
Fair Value, Measurements, Recurring [Member] | Loans held for sale [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 50,815 | 52,532 |
Fair Value, Measurements, Recurring [Member] | Mortgage Servicing Rights [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 7,177 | |
Fair Value, Measurements, Recurring [Member] | U.S. Government Treasury [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 180,013 | 187,868 |
Fair Value, Measurements, Recurring [Member] | U.S. Government Agency [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 224,435 | 237,578 |
Fair Value, Measurements, Recurring [Member] | States and Political Subdivisions [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 43,350 | 46,980 |
Fair Value, Measurements, Recurring [Member] | Mortgage-Backed Securities [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 86,063 | 88,869 |
Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 83,173 | 86,222 |
Fair Value, Measurements, Recurring [Member] | Other Securities [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 7,327 | 7,094 |
Fair Value, Measurements, Recurring [Member] | Level 1 Inputs [Member] | Interest Rate Swap Derivative [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Level 1 Inputs [Member] | Mortgage Banking Hedge Derivative [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 0 | |
LIABILITIES: | ||
Financial Liabilities Fair Value Disclosure | 0 | |
Fair Value, Measurements, Recurring [Member] | Level 1 Inputs [Member] | Mortgage Banking IRLC Derivative [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Level 1 Inputs [Member] | Loans held for sale [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Level 1 Inputs [Member] | Mortgage Servicing Rights [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 0 | |
Fair Value, Measurements, Recurring [Member] | Level 1 Inputs [Member] | U.S. Government Treasury [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 180,013 | 187,868 |
Fair Value, Measurements, Recurring [Member] | Level 1 Inputs [Member] | U.S. Government Agency [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Level 1 Inputs [Member] | States and Political Subdivisions [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Level 1 Inputs [Member] | Mortgage-Backed Securities [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Level 1 Inputs [Member] | Corporate Debt Securities [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Level 1 Inputs [Member] | Other Securities [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Level 2, Inputs [Member] | Interest Rate Swap Derivative [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 3,886 | 2,050 |
Fair Value, Measurements, Recurring [Member] | Level 2, Inputs [Member] | Mortgage Banking Hedge Derivative [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 850 | |
LIABILITIES: | ||
Financial Liabilities Fair Value Disclosure | 7 | |
Fair Value, Measurements, Recurring [Member] | Level 2, Inputs [Member] | Mortgage Banking IRLC Derivative [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Level 2, Inputs [Member] | Loans held for sale [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 50,815 | 52,532 |
Fair Value, Measurements, Recurring [Member] | Level 2, Inputs [Member] | Mortgage Servicing Rights [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 0 | |
Fair Value, Measurements, Recurring [Member] | Level 2, Inputs [Member] | U.S. Government Treasury [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Level 2, Inputs [Member] | U.S. Government Agency [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 224,435 | 237,578 |
Fair Value, Measurements, Recurring [Member] | Level 2, Inputs [Member] | States and Political Subdivisions [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 43,350 | 46,980 |
Fair Value, Measurements, Recurring [Member] | Level 2, Inputs [Member] | Mortgage-Backed Securities [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 86,063 | 88,869 |
Fair Value, Measurements, Recurring [Member] | Level 2, Inputs [Member] | Corporate Debt Securities [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 83,173 | 86,222 |
Fair Value, Measurements, Recurring [Member] | Level 2, Inputs [Member] | Other Securities [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 7,327 | 7,094 |
Fair Value, Measurements, Recurring [Member] | Level 3, Inputs [Member] | Interest Rate Swap Derivative [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Level 3, Inputs [Member] | Mortgage Banking Hedge Derivative [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 0 | |
LIABILITIES: | ||
Financial Liabilities Fair Value Disclosure | 0 | |
Fair Value, Measurements, Recurring [Member] | Level 3, Inputs [Member] | Mortgage Banking IRLC Derivative [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 1,117 | 1,258 |
Fair Value, Measurements, Recurring [Member] | Level 3, Inputs [Member] | Loans held for sale [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Level 3, Inputs [Member] | Mortgage Servicing Rights [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 7,177 | |
Fair Value, Measurements, Recurring [Member] | Level 3, Inputs [Member] | U.S. Government Treasury [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Level 3, Inputs [Member] | U.S. Government Agency [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Level 3, Inputs [Member] | States and Political Subdivisions [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Level 3, Inputs [Member] | Mortgage-Backed Securities [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Level 3, Inputs [Member] | Corporate Debt Securities [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Level 3, Inputs [Member] | Other Securities [Member] | ||
ASSETS: | ||
Assets, Fair Value Disclosure | $ 0 | $ 0 |
FAIR VALUE MEASUREMENTS (Financ
FAIR VALUE MEASUREMENTS (Financial Instruments) (Details) - USD ($) | Mar. 31, 2022 | Dec. 31, 2021 | Mar. 31, 2021 | Dec. 31, 2020 |
ASSETS: | ||||
Investment Securities, Available for Sale | $ 624,361,000 | $ 654,611,000 | ||
Investment securities, held to maturity, fair value | 501,277,000 | 339,699,000 | ||
Equity Securities | 855,000 | 861,000 | ||
Loans Held for Sale | 50,815,000 | 52,532,000 | ||
Mortgage Servicing Rights | 4,001,000 | 3,774,000 | $ 3,583,000 | $ 3,452,000 |
Loans, Net of Allowance for Credit Losses | 1,964,753,000 | 1,909,859,000 | ||
Fair value inputs, Level 1 [Member] | ||||
ASSETS: | ||||
Cash | 77,963,000 | 65,313,000 | ||
Short-Term Investments | 790,465,000 | 970,041,000 | ||
Investment Securities, Available for Sale | 180,013,000 | 187,868,000 | ||
Investment Securities, Held to Maturity | 279,892,000 | 113,877,000 | ||
Equity Securities | 0 | 0 | ||
Loans Held for Sale | 0 | 0 | ||
Other Equity Securities | 0 | 0 | ||
Interest Rate Swap Derivative | 0 | 0 | ||
Mortgage Servicing Rights | 0 | 0 | ||
Loans, Net of Allowance for Credit Losses | 0 | 0 | ||
LIABILITIES: | ||||
Deposits | 0 | 0 | ||
Short-Term Borrowings | 0 | 0 | ||
Subordinated Notes Payable | 0 | 0 | ||
Long-Term Borrowings | 0 | 0 | ||
Fair value inputs, Level 1 [Member] | Mortgage Banking Hedge Derivative [Member] | ||||
ASSETS: | ||||
Derivative Assets | 0 | |||
LIABILITIES: | ||||
Mortgage Banking Derivative Liability | 0 | |||
Fair value inputs, Level 1 [Member] | Mortgage Banking IRLC Derivative [Member] | ||||
ASSETS: | ||||
Derivative Assets | 0 | 0 | ||
Fair Value, Inputs, Level 2 [Member] | ||||
ASSETS: | ||||
Cash | 0 | 0 | ||
Short-Term Investments | 0 | 0 | ||
Investment Securities, Available for Sale | 444,348,000 | 466,743,000 | ||
Investment Securities, Held to Maturity | 221,385,000 | 225,822,000 | ||
Equity Securities | 855,000 | 861,000 | ||
Loans Held for Sale | 50,815,000 | 52,532,000 | ||
Other Equity Securities | 2,898,000 | 2,848,000 | ||
Interest Rate Swap Derivative | 3,886,000 | 2,050,000 | ||
Mortgage Servicing Rights | 0 | 0 | ||
Loans, Net of Allowance for Credit Losses | 0 | 0 | ||
LIABILITIES: | ||||
Deposits | 3,417,626,000 | 3,713,478,000 | ||
Short-Term Borrowings | 30,865,000 | 34,557,000 | ||
Subordinated Notes Payable | 45,336,000 | 42,609,000 | ||
Long-Term Borrowings | 834,000 | 938,000 | ||
Fair Value, Inputs, Level 2 [Member] | Mortgage Banking Hedge Derivative [Member] | ||||
ASSETS: | ||||
Derivative Assets | 850,000 | |||
LIABILITIES: | ||||
Mortgage Banking Derivative Liability | 7,000 | |||
Fair Value, Inputs, Level 2 [Member] | Mortgage Banking IRLC Derivative [Member] | ||||
ASSETS: | ||||
Derivative Assets | 0 | 0 | ||
Fair Value, Inputs, Level 3 [Member] | ||||
ASSETS: | ||||
Cash | 0 | 0 | ||
Short-Term Investments | 0 | 0 | ||
Investment Securities, Available for Sale | 0 | 0 | ||
Investment Securities, Held to Maturity | 0 | 0 | ||
Equity Securities | 0 | 0 | ||
Loans Held for Sale | 0 | 0 | ||
Other Equity Securities | 0 | 0 | ||
Interest Rate Swap Derivative | 0 | 0 | ||
Mortgage Servicing Rights | 7,177,000 | 4,718,000 | ||
Loans, Net of Allowance for Credit Losses | 1,934,570,000 | 1,903,640,000 | ||
LIABILITIES: | ||||
Deposits | 0 | 0 | ||
Short-Term Borrowings | 0 | 0 | ||
Subordinated Notes Payable | 0 | 0 | ||
Long-Term Borrowings | 0 | 0 | ||
Fair Value, Inputs, Level 3 [Member] | Mortgage Banking Hedge Derivative [Member] | ||||
ASSETS: | ||||
Derivative Assets | 0 | |||
LIABILITIES: | ||||
Mortgage Banking Derivative Liability | 0 | |||
Fair Value, Inputs, Level 3 [Member] | Mortgage Banking IRLC Derivative [Member] | ||||
ASSETS: | ||||
Derivative Assets | 1,117,000 | 1,258,000 | ||
Carrying (Reported) Amount, Fair Value Disclosure [Member] | ||||
ASSETS: | ||||
Cash | 77,963,000 | 65,313,000 | ||
Short-Term Investments | 790,465,000 | 970,041,000 | ||
Investment Securities, Available for Sale | 624,361,000 | 654,611,000 | ||
Investment Securities, Held to Maturity | 518,678,000 | 339,601,000 | ||
Equity Securities | 855,000 | 861,000 | ||
Loans Held for Sale | 50,815,000 | 52,532,000 | ||
Other Equity Securities | 2,898,000 | 2,848,000 | ||
Interest Rate Swap Derivative | 3,886,000 | 2,050,000 | ||
Mortgage Servicing Rights | 4,001,000 | 3,774,000 | ||
Loans, Net of Allowance for Credit Losses | 1,964,753,000 | 1,909,859,000 | ||
LIABILITIES: | ||||
Deposits | 3,765,507,000 | 3,712,862,000 | ||
Short-Term Borrowings | 30,865,000 | 34,557,000 | ||
Subordinated Notes Payable | 52,887,000 | 52,887,000 | ||
Long-Term Borrowings | 806,000 | 884,000 | ||
Carrying (Reported) Amount, Fair Value Disclosure [Member] | Mortgage Banking Hedge Derivative [Member] | ||||
ASSETS: | ||||
Derivative Assets | 850,000 | |||
LIABILITIES: | ||||
Mortgage Banking Derivative Liability | 7,000 | |||
Carrying (Reported) Amount, Fair Value Disclosure [Member] | Mortgage Banking IRLC Derivative [Member] | ||||
ASSETS: | ||||
Derivative Assets | $ 1,117,000 | $ 1,258,000 |
FAIR VALUE MEASUREMENTS (Narrat
FAIR VALUE MEASUREMENTS (Narratives) (Details) - USD ($) | 3 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Dec. 31, 2021 | |
Fair Value measurements [Abstract] | |||
Level 3 issuances | $ 4,300,000 | $ 15,400,000 | |
Level 3 transfers | 13,600,000 | $ 10,500,000 | |
Valuation allowance | 100,000 | $ 200,000 | |
valuation allowance for loan servicing rights | 0 | 300,000 | |
Asset Pledged as Collateral [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Financing Receivable | 2,800,000 | 1,500,000 | |
Fair Value Swap [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Notional Amount | $ 0 | $ 100,000 |
ACCUMULATED OTHER COMPREHENSI_3
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Activity in accumulated other comprehensive loss, net of tax | ||
Balance, Begining | $ (16,214) | $ (44,142) |
Other comprehensive (loss) income during the period | (17,529) | 271 |
Balance, Ending | (33,743) | (43,871) |
Interest Rate Swap [Member] | ||
Activity in accumulated other comprehensive loss, net of tax | ||
Balance, Begining | 1,530 | 428 |
Other comprehensive (loss) income during the period | 1,370 | 1,587 |
Balance, Ending | 2,900 | 2,015 |
Securities Available for Sale [Member] | ||
Activity in accumulated other comprehensive loss, net of tax | ||
Balance, Begining | (4,588) | 2,700 |
Other comprehensive (loss) income during the period | (19,055) | (1,458) |
Balance, Ending | (23,643) | 1,242 |
Retirement Plans [Member] | ||
Activity in accumulated other comprehensive loss, net of tax | ||
Balance, Begining | (13,156) | (47,270) |
Other comprehensive (loss) income during the period | 156 | 142 |
Balance, Ending | $ (13,000) | $ (47,128) |