Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2022 | Oct. 31, 2022 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Sep. 30, 2022 | |
Document Transition Report | false | |
Entity File Number | 0-12668 | |
Entity Registrant Name | Hills Bancorporation | |
Entity Incorporation, State or Country Code | IA | |
Entity Tax Identification Number | 42-1208067 | |
Entity Address, Address Line One | 131 MAIN STREET | |
Entity Address, City or Town | HILLS | |
Entity Address, State or Province | IA | |
Entity Address, Postal Zip Code | 52235 | |
City Area Code | 319 | |
Local Phone Number | 679-2291 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Accelerated Filer | |
Entity Smaller Reporting Company | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding (in shares) | 9,261,346 | |
Entity Central Index Key | 0000732417 | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Year Focus | 2022 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
ASSETS | ||
Cash and cash equivalents | $ 242,121 | $ 781,918 |
Investment securities available for sale at fair value (amortized cost September 30, 2022 $814,817; December 31, 2021 $549,386) | 747,553 | 551,354 |
Stock of Federal Home Loan Bank | 4,862 | 4,546 |
Loans held for sale | 2,664 | 5,716 |
Loans, net of allowance for credit losses September 30, 2022 $38,980; December 31, 2021 $35,470 | 2,907,415 | 2,625,062 |
Property and equipment, net | 33,703 | 34,290 |
Tax credit real estate investment | 9,292 | 9,815 |
Accrued interest receivable | 14,520 | 11,437 |
Deferred income taxes, net | 26,866 | 9,125 |
Goodwill | 2,500 | 2,500 |
Other assets | 8,882 | 8,799 |
Total Assets | 4,000,378 | 4,044,562 |
Liabilities | ||
Noninterest-bearing deposits | 696,137 | 633,101 |
Interest-bearing deposits | 2,819,624 | 2,900,893 |
Total deposits | 3,515,761 | 3,533,994 |
Other borrowings | 0 | 249 |
Accrued interest payable | 1,056 | 1,165 |
Allowance for credit losses on off-balance sheet credit exposures | 4,120 | 3,850 |
Other liabilities | 19,367 | 16,841 |
Total Liabilities | 3,540,304 | 3,556,099 |
Redeemable Common Stock Held by Employee Stock Ownership Plan (ESOP) | 51,011 | 50,013 |
STOCKHOLDERS' EQUITY | ||
Common stock, no par value; authorized 20,000,000 shares; issued September 30, 2022 10,348,675 shares; December 31, 2021 10,329,493 shares | 0 | 0 |
Paid in capital | 63,115 | 60,938 |
Retained earnings | 500,806 | 474,392 |
Accumulated other comprehensive (loss) income | (50,959) | 1,477 |
Treasury stock at cost (September 30, 2022 1,088,891 shares; December 31, 2021 1,029,853 shares) | (52,888) | (48,344) |
Total Stockholders' Equity | 460,074 | 488,463 |
Less maximum cash obligation related to ESOP shares | 51,011 | 50,013 |
Total Stockholders' Equity Less Maximum Cash Obligation Related to ESOP Shares | 409,063 | 438,450 |
Total Liabilities & Stockholders' Equity | $ 4,000,378 | $ 4,044,562 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
ASSETS | ||
Investment securities available for sale, amortized cost | $ 814,817 | $ 549,386 |
Loans, allowance for loan losses | $ 38,980 | $ 35,470 |
STOCKHOLDERS' EQUITY | ||
Common stock, no par value (in dollars per share) | $ 0 | $ 0 |
Common stock, authorized (in shares) | 20,000,000 | 20,000,000 |
Common stock, issued (in shares) | 10,348,675 | 10,329,493 |
Treasury stock at cost (in shares) | 1,088,891 | 1,029,853 |
CONSOLIDATED STATEMENTS OF INCO
CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Interest income: | ||||
Loans, including fees | $ 29,474 | $ 29,004 | $ 82,781 | $ 86,956 |
Investment securities: | ||||
Taxable | 2,543 | 940 | 6,120 | 2,629 |
Nontaxable | 1,036 | 963 | 3,036 | 2,880 |
Federal funds sold | 1,366 | 289 | 2,502 | 652 |
Total interest income | 34,419 | 31,196 | 94,439 | 93,117 |
Interest expense: | ||||
Deposits | 4,104 | 3,414 | 10,254 | 11,416 |
FHLB borrowings | 0 | 758 | 0 | 2,248 |
Total interest expense | 4,104 | 4,172 | 10,254 | 13,664 |
Net interest income | 30,315 | 27,024 | 84,185 | 79,453 |
Credit loss (benefit) expense | (336) | 82 | 3,270 | (4,561) |
Net interest income after credit loss (benefit) expense | 30,651 | 26,942 | 80,915 | 84,014 |
Noninterest income: | ||||
Net gain on sale of loans | 240 | 1,512 | 1,377 | 6,243 |
Other noninterest income | 164 | 89 | 814 | 647 |
Noninterest income | 6,545 | 8,244 | 20,973 | 25,264 |
Noninterest expenses: | ||||
Salaries and employee benefits | 10,818 | 10,281 | 31,990 | 31,484 |
Occupancy | 1,024 | 955 | 3,265 | 3,135 |
Furniture and equipment | 1,770 | 1,652 | 5,150 | 5,523 |
Office supplies and postage | 425 | 428 | 1,377 | 1,268 |
Advertising and business development | 586 | 496 | 1,874 | 1,480 |
Outside services | 3,491 | 3,496 | 9,407 | 9,781 |
FDIC insurance assessment | 267 | 267 | 815 | 777 |
Other noninterest expense | 650 | 623 | 1,802 | 1,668 |
Noninterest expenses | 19,031 | 18,198 | 55,680 | 55,116 |
Income before income taxes | 18,165 | 16,988 | 46,208 | 54,162 |
Income taxes | 4,425 | 3,863 | 10,490 | 12,230 |
Net income | $ 13,740 | $ 13,125 | $ 35,718 | $ 41,932 |
Earnings per share: | ||||
Basic (in dollars per share) | $ 1.48 | $ 1.41 | $ 3.85 | $ 4.50 |
Diluted (in dollars per share) | $ 1.48 | $ 1.41 | $ 3.85 | $ 4.50 |
Trust fees | ||||
Noninterest income: | ||||
Fee income | $ 2,859 | $ 3,568 | $ 9,338 | $ 9,645 |
Service charges and fees | ||||
Noninterest income: | ||||
Fee income | $ 3,282 | $ 3,075 | $ 9,444 | $ 8,729 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income | $ 13,740 | $ 13,125 | $ 35,718 | $ 41,932 |
Securities: | ||||
Net change in unrealized loss on securities available for sale | (25,983) | (1,510) | (69,232) | (6,017) |
Income taxes | 6,005 | 377 | 16,796 | 1,502 |
Other comprehensive loss on securities available for sale | (19,978) | (1,133) | (52,436) | (4,515) |
Other comprehensive loss, net of tax | (19,978) | (1,133) | (52,436) | (4,515) |
Comprehensive (loss) income | $ (6,238) | $ 11,992 | $ (16,718) | $ 37,417 |
CONSOLIDATED STATEMENTS OF STOC
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Unaudited) - USD ($) $ in Thousands | Total | Cumulative change in accounting principle (Note 1) | Balance, January 1, 2021 (as adjusted for change in accounting principle) | Paid in Capital | Paid in Capital Balance, January 1, 2021 (as adjusted for change in accounting principle) | Retained Earnings | Retained Earnings Cumulative change in accounting principle (Note 1) | Retained Earnings Balance, January 1, 2021 (as adjusted for change in accounting principle) | Accumulated Other Comprehensive Income (Loss) | Accumulated Other Comprehensive Income (Loss) Balance, January 1, 2021 (as adjusted for change in accounting principle) | Treasury Stock | Treasury Stock Balance, January 1, 2021 (as adjusted for change in accounting principle) | Maximum Cash Obligation Related to ESOP Shares | Maximum Cash Obligation Related to ESOP Shares Balance, January 1, 2021 (as adjusted for change in accounting principle) |
Beginning Balance at Dec. 31, 2020 | $ 416,076 | $ (4,751) | $ 411,325 | $ 60,233 | $ 60,233 | $ 439,831 | $ (4,751) | $ 435,080 | $ 8,782 | $ 8,782 | $ (45,441) | $ (45,441) | $ (47,329) | $ (47,329) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||||
Issuance of 1,204, 4,475, 5,957, and 34,409 shares of common stock for 3 and 9 months ended September 30, 2021 and 2022, respectively | 384 | 225 | 159 | |||||||||||
Issuance 1,725, 1,529, 5,564 and 4,963 shares of common stock under the employee stock purchase plan for 3 and 9 months ended September 30, 2021 and 2022, respectively | 320 | 320 | ||||||||||||
Unearned restricted stock compensation | 603 | 603 | ||||||||||||
Forfeiture of 2,114, 6,089, 5,869 and 10,501 shares of common stock for 3 and 9 months ended September 30, 2021 and 2022, respectively | (321) | (321) | ||||||||||||
Share-based compensation | 18 | 18 | ||||||||||||
Change related to ESOP shares | (1,502) | (1,502) | ||||||||||||
Net income | 41,932 | 41,932 | ||||||||||||
Cash dividends ($0.94 and $1.00 per share for 9 months ended September 30, 2021 and 2022, respectively) | (8,773) | (8,773) | ||||||||||||
Purchase of 19,556, 7,541, 49,136 and 68,727 shares of common stock for 3 and 9 months ended September 30, 2021 and 2022, respectively | (3,167) | (3,167) | ||||||||||||
Other comprehensive loss | (4,515) | (4,515) | ||||||||||||
Ending Balance at Sep. 30, 2021 | 436,304 | 61,078 | 468,239 | 4,267 | (48,449) | (48,831) | ||||||||
Beginning Balance at Jun. 30, 2021 | 425,377 | 60,776 | 455,114 | 5,400 | (47,187) | (48,726) | ||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||||
Issuance of 1,204, 4,475, 5,957, and 34,409 shares of common stock for 3 and 9 months ended September 30, 2021 and 2022, respectively | 80 | 48 | 32 | |||||||||||
Issuance 1,725, 1,529, 5,564 and 4,963 shares of common stock under the employee stock purchase plan for 3 and 9 months ended September 30, 2021 and 2022, respectively | 100 | 100 | ||||||||||||
Unearned restricted stock compensation | 273 | 273 | ||||||||||||
Forfeiture of 2,114, 6,089, 5,869 and 10,501 shares of common stock for 3 and 9 months ended September 30, 2021 and 2022, respectively | (125) | (125) | ||||||||||||
Share-based compensation | 6 | 6 | ||||||||||||
Change related to ESOP shares | (105) | (105) | ||||||||||||
Net income | 13,125 | 13,125 | ||||||||||||
Purchase of 19,556, 7,541, 49,136 and 68,727 shares of common stock for 3 and 9 months ended September 30, 2021 and 2022, respectively | (1,294) | (1,294) | ||||||||||||
Other comprehensive loss | (1,133) | (1,133) | ||||||||||||
Ending Balance at Sep. 30, 2021 | 436,304 | 61,078 | 468,239 | 4,267 | (48,449) | (48,831) | ||||||||
Beginning Balance at Dec. 31, 2021 | 438,450 | 60,938 | 474,392 | 1,477 | (48,344) | (50,013) | ||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||||
Issuance of 1,204, 4,475, 5,957, and 34,409 shares of common stock for 3 and 9 months ended September 30, 2021 and 2022, respectively | 2,164 | 1,897 | 267 | |||||||||||
Issuance 1,725, 1,529, 5,564 and 4,963 shares of common stock under the employee stock purchase plan for 3 and 9 months ended September 30, 2021 and 2022, respectively | 310 | 310 | ||||||||||||
Unearned restricted stock compensation | 594 | 594 | ||||||||||||
Forfeiture of 2,114, 6,089, 5,869 and 10,501 shares of common stock for 3 and 9 months ended September 30, 2021 and 2022, respectively | (642) | (642) | ||||||||||||
Share-based compensation | 18 | 18 | ||||||||||||
Change related to ESOP shares | (998) | (998) | ||||||||||||
Net income | 35,718 | 35,718 | ||||||||||||
Cash dividends ($0.94 and $1.00 per share for 9 months ended September 30, 2021 and 2022, respectively) | (9,304) | (9,304) | ||||||||||||
Purchase of 19,556, 7,541, 49,136 and 68,727 shares of common stock for 3 and 9 months ended September 30, 2021 and 2022, respectively | (4,811) | (4,811) | ||||||||||||
Other comprehensive loss | (52,436) | (52,436) | ||||||||||||
Ending Balance at Sep. 30, 2022 | 409,063 | 63,115 | 500,806 | (50,959) | (52,888) | (51,011) | ||||||||
Beginning Balance at Jun. 30, 2022 | 416,650 | 62,969 | 487,066 | (30,981) | (52,472) | (49,932) | ||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||||
Issuance of 1,204, 4,475, 5,957, and 34,409 shares of common stock for 3 and 9 months ended September 30, 2021 and 2022, respectively | 318 | 195 | 123 | |||||||||||
Issuance 1,725, 1,529, 5,564 and 4,963 shares of common stock under the employee stock purchase plan for 3 and 9 months ended September 30, 2021 and 2022, respectively | 98 | 98 | ||||||||||||
Unearned restricted stock compensation | 239 | 239 | ||||||||||||
Forfeiture of 2,114, 6,089, 5,869 and 10,501 shares of common stock for 3 and 9 months ended September 30, 2021 and 2022, respectively | (392) | (392) | ||||||||||||
Share-based compensation | 6 | 6 | ||||||||||||
Change related to ESOP shares | (1,079) | (1,079) | ||||||||||||
Net income | 13,740 | 13,740 | ||||||||||||
Purchase of 19,556, 7,541, 49,136 and 68,727 shares of common stock for 3 and 9 months ended September 30, 2021 and 2022, respectively | (539) | (539) | ||||||||||||
Other comprehensive loss | (19,978) | (19,978) | ||||||||||||
Ending Balance at Sep. 30, 2022 | $ 409,063 | $ 63,115 | $ 500,806 | $ (50,959) | $ (52,888) | $ (51,011) |
CONSOLIDATED STATEMENTS OF ST_2
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Unaudited) (Parenthetical) - $ / shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Statement of Stockholders' Equity [Abstract] | ||||
Issuance of common stock (in shares) | 4,475 | 1,204 | 34,409 | 5,957 |
Issuance of common stock purchased under the employee stock purchase plan (in shares) | 1,529 | 1,725 | 4,963 | 5,564 |
Forfeiture of shares of common stock (in shares) | 6,089 | 2,114 | 10,501 | 5,869 |
Cash dividends (in dollars per share) | $ 1 | $ 0.94 | ||
Purchase of common stock (in shares) | 7,541 | 19,556 | 68,727 | 49,136 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Cash Flows from Operating Activities | ||
Net income | $ 35,718 | $ 41,932 |
Adjustments to reconcile net income to net cash and cash equivalents provided by operating activities: | ||
Depreciation | 2,089 | 2,325 |
Credit loss expense (benefit) | 3,270 | (4,561) |
Forfeiture of common stock | (642) | (321) |
Share-based compensation | 18 | 18 |
Compensation expensed through issuance of common stock | 683 | 384 |
Provision for deferred income taxes | (944) | 738 |
Net gain on sale of other real estate owned and other repossessed assets | (57) | (25) |
Increase in accrued interest receivable | (3,083) | (255) |
Amortization of premium on investment securities, net | 724 | 872 |
Increase in other assets | (86) | (683) |
Amortization of operating lease right-of-use assets | 105 | 298 |
Increase in accrued interest payable and other liabilities | 3,011 | 5,072 |
Loans originated for sale | (100,362) | (356,975) |
Proceeds on sales of loans | 104,791 | 396,427 |
Net gain on sales of loans | (1,377) | (6,243) |
Net cash and cash equivalents provided by operating activities | 43,858 | 79,003 |
Cash Flows from Investing Activities | ||
Proceeds from maturities of investment securities available for sale | 97,891 | 76,242 |
Purchases of investment securities available for sale | (364,047) | (176,023) |
Purchases of stock of Federal Home Loan Bank | (316) | (574) |
Loans made to customers, net of collections | (285,559) | 56,533 |
Proceeds on sale of other real estate owned and other repossessed assets | 161 | 70 |
Purchases of property and equipment | (1,502) | (1,187) |
Investment in tax credit real estate | 0 | (4,183) |
Net changes from tax credit real estate investment | 523 | 836 |
Net cash and cash equivalents used in investing activities | (552,849) | (48,286) |
Cash Flows from Financing Activities | ||
Net (decrease) increase in deposits | (18,233) | 275,691 |
Net decrease in short-term borrowings | (249) | 0 |
Issuance of common stock, net of costs | 1,243 | 0 |
Stock options exercised | 238 | 0 |
Purchase of common stock | (4,811) | (3,167) |
Proceeds from the issuance of common stock through the employee stock purchase plan | 310 | 320 |
Dividends paid | (9,304) | (8,773) |
Net cash and cash equivalents (used in) provided by financing activities | (30,806) | 264,071 |
(Decrease) increase in cash and cash equivalents | (539,797) | 294,788 |
Cash and cash equivalents: | ||
Beginning of period | 781,918 | 574,310 |
End of period | 242,121 | 869,098 |
Cash payments for: | ||
Interest paid to depositors | 10,363 | 11,894 |
Interest paid on other obligations | 0 | 2,248 |
Income taxes paid | 9,178 | 6,073 |
Noncash activities: | ||
Increase in maximum cash obligation related to ESOP shares | $ 998 | $ 1,502 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2022 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Summary of Significant Accounting Policies Basis of Presentation: The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial reporting and with instructions for Form 10-Q and Regulation S-X. These financial statements include all adjustments (consisting of normal recurring accruals) which in the opinion of management are considered necessary for the fair presentation of the financial position and results of operations for the periods shown. Certain prior year amounts have been reclassified to conform to the current year presentation. The Company considers that it operates as one business segment, a commercial bank. Operating results for the nine month period ended September 30, 2022 are not necessarily indicative of the results that may be expected for the fiscal year ending December 31, 2022. For further information, refer to the consolidated financial statements and footnotes thereto included in the Form 10-K Annual Report of Hills Bancorporation and subsidiary (the “Company”) for the year ended December 31, 2021 filed with the Securities Exchange Commission on March 4, 2022. The consolidated balance sheet as of December 31, 2021, has been derived from the audited consolidated financial statements for that period. The Company evaluated subsequent events through the filing date of its quarterly report on Form 10-Q with the SEC. Accounting Estimates: The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Certain Significant Estimates: The allowance for credit losses, fair values of securities and other financial instruments, and share-based compensation expense involve certain significant estimates made by management. These estimates are reviewed by management routinely and it is reasonably possible that circumstances that exist at September 30, 2022 may change in the near-term and the effect could be material to the consolidated financial statements. Actual amounts and values as of the balance sheet dates may be materially different than the amounts and values reported due to the inherent uncertainty in the estimation process. Revenue Recognition: Accounting Standards Codification ("ASC") 606, Revenue from Contracts with Customers ("ASC 606"), establishes principles for reporting information about the nature, amount, timing and uncertainty of revenue and cash flows arising from the Company’s contracts to provide goods or services to customers. The core principle requires an entity to recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration that it expects to be entitled to receive in exchange for those goods or services recognized as performance obligations are satisfied. The majority of the Company’s revenue-generating transactions are not subject to ASC 606, including revenue generated from financial instruments, such as loans, letters of credit and investment securities. Interest income on loans and investment securities is recognized on the accrual method in accordance with written contracts. Descriptions of the Company’s revenue-generating activities that are within the scope of ASC 606 are the following: Service charges and fees on deposit accounts represent general service fees for monthly account maintenance and activity- or transaction-based fees and consist of transaction-based revenue which includes interchange income, time-based revenue (service period), item-based revenue or some other individual attribute-based revenue. Revenue is recognized when the Company’s performance obligation is completed which is generally monthly for account maintenance services or when a transaction has been completed (such as a wire transfer). Payment for such performance obligations are generally received at the time the performance obligations are satisfied. Trust income represents monthly fees due from wealth management customers as consideration for managing the customers' assets. Wealth management and trust services include custody of assets, investment management, fees for trust services and similar fiduciary activities. Revenue is recognized when our performance obligation is completed each month, which is generally the time that payment is received. A contract asset balance occurs when an entity performs a service for a customer before the customer pays consideration (resulting in a contract receivable) or before payment is due (resulting in a contract asset). A contract liability balance is an entity's obligation to transfer a service to a customer for which the entity has already received payment (or payment is due) from the customer. As of September 30, 2022, the Company did not have any significant contract balances. An entity is required to capitalize, and subsequently amortize into expense, certain incremental costs of obtaining a contract with a customer if these costs are expected to be recovered. The incremental costs of obtaining a contract are those costs that an entity incurs to obtain a contract with a customer that it would not have incurred if the contract had not been obtained (for example, sales commission). The Company utilizes the practical expedient which allows entities to immediately expense contract acquisition costs when the asset that would have resulted from capitalizing these costs would have been amortized in one year or less. The Company has not incurred or capitalized any contract acquisition costs as of September 30, 2022. Tax Credit Real Estate: Tax credit real estate represents three multi-family rental properties, three assisted living rental properties, a multi-tenant rental property for persons with disabilities, and a multi-family senior living rental property, all of which are affordable housing projects as of September 30, 2022. The Bank has a 99% or greater limited partnership interest in each limited partnership. The investment in each was completed after the projects had been developed by the general partner. On a regular basis, the Company evaluates recoverability of the carrying value of the tax credit real estate investments to determine if an allowance for credit losses is necessary. The allowance for credit losses is measured by a comparison of the carrying amount of the investments to the future undiscounted cash flows expected to be generated by the investment properties, including the low-income housing tax credits and any estimated proceeds from eventual disposition. If there is an indication of impairment, the allowance for credit losses would be established with a charge to credit loss expense. There were no indications of impairment based on management's evaluation and therefore no allowance for credit losses was determined necessary as of September 30, 2022. Depreciation expense is provided on a straight-line basis over the estimated useful life of the assets. Expenditures for normal repairs and maintenance are charged to expense as incurred. The investments in tax credit real estate are recorded for all years presented using the equity method of accounting, with the exception of the investment in the affordable housing project described below. The operations of the properties are not expected to contribute significantly to the Company’s income before income taxes. However, the properties do contribute in the form of income tax credits, which lowers the Company’s effective tax rate. Once established, the credits on each property last for ten years and are passed through from the limited partnerships to the Bank and reduces the consolidated federal tax liability of the Company. In February 2021, the Company provided construction financing and contributed capital of $4.18 million to Del Ray Ridge LP, as limited partner, which owns and operates an affordable housing property in Iowa City, Iowa. The Company accounts for the investment in this tax credit real estate using the proportional amortization method as provided for under Accounting Standards Codification (ASC) 323-740. The investment qualifies for the proportional amortization method as it meets all of the criteria under ASC 323-740-25-1. Substantially all of the projected benefits are from tax credits and other tax benefits due to the minimum buyout clause included in the partnership agreement. Adoption of Financial Accounting Standard Codification 326 (ASC 326 (CECL)): On January 1, 2021, the Company adopted ASU 2016-13 Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments , which requires the recognition of the allowance for credit losses be estimated using the current expected credit loss (CECL) methodology. The Company adopted ASC 326 using the modified retrospective method for all financial assets measured at amortized cost and off-balance sheet (OBS) credit exposures. Results for reporting periods beginning January 1, 2021 are presented under ASC 326. The Company recorded a net decrease to retained earnings of $4.75 million as of January 1, 2021 for the cumulative effect of adopting ASC 326, which includes deferred taxes of $1.58 million. The transition adjustment includes a $2.75 million increase to the Allowance for Credit Losses On Loans and the recording of a $3.58 million Allowance for Credit Losses on OBS Credit Exposures. The following table illustrates the impact of ASC 326 (amounts in thousands). January 1, 2021 As Reported Under ASC 326 Pre-ASC 326 Adoption Impact of ASC 326 Adoption Assets: Loans Allowance for credit losses on loans $ 39,816 $ 37,070 $ 2,746 Liabilities: Allowance for credit losses on off-balance sheet credit exposures $ 3,584 $ — $ 3,584 Available-for-sale debt securities and the allowance for credit losses on available-for-sale debt securities : Available-for-sale ("AFS") securities consist of debt securities not classified as trading or held to maturity. Available-for-sale securities are stated at fair value, and unrealized holding gains and losses, net of the related deferred tax effect, are reported as a separate component of stockholders' equity. There were no trading or held to maturity securities as of September 30, 2022 or 2021. Fair value measurement is based upon quoted market prices in active markets, if available. If quoted prices in active markets are not available, fair value is measured using pricing models or other model-based valuation techniques such as present value of future cash flows, which consider prepayment assumptions and other factors such as credit losses and market liquidity. Unrealized gains and losses are excluded from earnings and reported, net of tax, in other comprehensive income ("OCI"). Premiums on debt securities are amortized to the earliest call date and discounts on debt securities are accreted over the period to maturity of those securities. The method of amortization results in a constant effective yield on those securities (the interest method). Gains and losses on the sale of securities are recorded on the trade date and are determined using the specific identification method. AFS debt securities in unrealized loss positions are evaluated for impairment related to credit losses at least quarterly. For AFS debt securities, a decline in fair value due to credit loss results in recording an allowance for credit losses to the extent the fair value is less than the amortized cost basis. Declines in fair value that have not been recorded through an allowance for credit losses, such as declines due to changes in market interest rates, are recorded through other comprehensive income, net of applicable taxes. Impairment may result from credit deterioration of the issuer or collateral underlying the security. In performing an assessment of whether any decline in fair value is due to a credit loss, all relevant information is considered at the individual security level. For asset-backed securities performance indicators considered related to the underlying assets include default rates, delinquency rates, percentage of nonperforming assets, debt-to-collateral ratios, third-party guarantees, current levels of subordination, vintage, geographic concentration, analyst reports and forecasts, credit ratings and other market data. In assessing whether a credit loss exists, we compare the present value of cash flows expected to be collected from the security with the amortized cost basis of the security. If the present value of cash flows expected to be collected is less than the amortized cost basis for the security, a credit loss exists and an allowance for credit losses is recorded, limited to the amount the fair value is less than amortized cost basis. If we intend to sell a debt security or more likely than not we will be required to sell the security before recovery of its amortized cost basis, the debt security is written down to its fair value and the write down is charged against the allowance for credit losses with any incremental impairment reported in earnings. Accrued interest receivable on AFS debt securities totaled $3.31 million at September 30, 2022 and is excluded from the estimate of credit losses. Loans held for sale : Loans held for sale are stated at the lower of aggregate cost or estimated fair value. Loans are sold on a non-recourse basis with servicing released and gains and losses are recognized based on the difference between sales proceeds and the carrying value of the loan. The Company has had very few experiences of repurchasing loans previously sold into the secondary market. A specific reserve was not considered necessary based on the Company’s historical experience with repurchase activity. Loans held for investment : Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are reported at amortized cost net of the allowance for credit losses ("ACL"). Amortized cost is the principal balance outstanding, net of deferred loan fees and costs. Accrued interest receivable on loans held for investment totaled $11.21 million at September 30, 2022 and is excluded from the estimate of credit losses. Interest income is accrued on the unpaid principal balance. Nonrefundable loan fees and origination costs are deferred and recognized as a yield adjustment over the life of the related loan. The accrual of interest income on loans is discontinued when, in the opinion of management, there is reasonable doubt as to the borrower's ability to meet payments of interest or principal when they become due, which is generally when a loan is 90 days or more past due unless the loan is well secured and in the process of collection. When a loan is placed on nonaccrual status, all previously accrued and unpaid interest is reversed against interest income. Loans are returned to an accrual status when all of the principal and interest amounts contractually due are brought current and repayment of the remaining contractual principal and interest is expected. A loan may also return to accrual status if additional collateral is received from the borrower and, in the opinion of management, the financial position of the borrower indicates that there is no longer any reasonable doubt as to the collection of the amount contractually due. Payment received on nonaccrual loans are applied first to principal. Once principal is recovered, any remaining payments received are applied to interest income. The policy for charging off loans is consistent throughout all loan categories. A loan is charged off based on criteria that includes but is not limited to: delinquency status, financial condition of the entire customer credit line and underlying collateral coverage, economic or external conditions that might impact full repayment of the loan, legal issues, overdrafts, and the customer’s willingness to work with the Company. Allowance for credit losses for loans held for investment : The allowance for credit losses is an estimate of the expected losses over the remaining life of the Company's existing loans held for investment portfolio. The allowance for credit losses for loans held for investment, as reported in our consolidated balance sheet, is adjusted by a credit loss expense, which is reported in earnings, and reduced by the charge-off of loan amounts, net of recoveries. The loan loss estimation process involves procedures to appropriately consider the unique characteristics of loan portfolio segments which consist of agricultural, 1 to 4 family first and junior liens, commercial, and consumer lending. These segments are further disaggregated into loan classes, the level at which credit risk is monitored. For each of these pools, the Company generates cash flow projections at the instrument level wherein payment expectations are adjusted for estimated prepayment speed, curtailments, time to recovery, probability of default, and loss given default. The modeling of expected prepayment speeds, curtailment rates, and time to recovery are based on historical internal data. The following provides the credit quality indicators and risk elements that are most relevant and most carefully considered and monitored for each loan portfolio segment. Agricultural - Agricultural operating loans include loans made to finance agricultural production and other loans to farmers and farming operations. Agricultural loans also include mortgage loans secured by farmland. Agricultural operating loans, most of which are secured by crops and machinery, are provided to finance capital improvement and farm operations as well as acquisitions of livestock and machinery. The ability of the borrower to repay may be affected by many factors outside of the borrower’s control including adverse weather conditions, loss of livestock due to disease or other factors, declines in market prices for agricultural products and the impact of government regulations. The ultimate repayment of agricultural operating loans is dependent upon the profitable operation or management of the agricultural entity. Agricultural operating loans generally have a term of one year and may have a fixed or variable rate. Mortgage loans secured by farmland are made to individuals and businesses within the Company's trade area. The primary source of repayment is the cash flow generated by the collateral underlying the loan. The secondary repayment source would be the liquidation of the collateral. Terms for real estate loans secured by farmland range from one to ten years with an amortization period of 25 years or less. Generally, interest rates are fixed for mortgage loans secured by farmland. Key economic forecasts used in estimating expected credit losses for this segment include the Iowa unemployment rate and the Iowa real gross domestic product (GDP). 1 to 4 Family First and Junior Liens - The 1 to 4 family first and junior liens portfolio segment is comprised of the single family and home equity loan classes, which are underwritten after evaluating a borrower's capacity to repay, credit, and collateral. Several factors are considered when assessing a borrower's capacity, including the borrower's employment, income, current debt, assets, and level of equity in the property. Credit refers to how well a borrower manages their current and prior debts as documented by a credit report that provides credit scores and the borrower's current and past information about their credit history. Collateral refers to the type and use of property, occupancy, and market value. Property appraisals are obtained to assist in evaluating collateral. Loan-to-property value and debt-to-income ratios, loan amount, and lien position are also considered in assessing whether to originate a loan. These borrowers are particularly susceptible to downturns in economic trends such as conditions that negatively affect housing prices and demand and levels of unemployment. Key economic forecasts used in estimating expected credit losses for this segment include the Iowa unemployment rate and the all-transactions house price index for Iowa. Commercial - The commercial loan portfolio segment is comprised of the commercial real estate mortgage including obligations of states and political subdivisions, multifamily residential mortgage, construction/land development and commercial and financial loan classes, whose underwriting standards consider the factors described for single family and home equity loan classes as well as others when assessing the borrower's and associated guarantors or other related party's financial position. These other factors include assessing liquidity, the level and composition of net worth, leverage, considering all other lender amounts and position, an analysis of cash expected to flow through the obligors including the outflow to other lenders, vacancies and prior experience with the borrower. This information is used to assess adequate financial capacity, profitability, and experience. Ultimate repayment of these loans is sensitive to interest rate changes, general economic conditions, liquidity, and availability of long-term financing. Key economic forecasts used in estimating expected credit losses for this segment include the Iowa unemployment rate, the all-transactions house price index for Iowa and the Iowa real GDP. Consumer Lending - The Bank offers consumer loans to individuals including personal loans and automobile loans. These consumer loans typically have shorter terms, lower balances, higher yields and higher risks of default than real estate-related loans. Consumer loans collections are dependent on the borrower's continuing financial stability and are more likely to be affected by adverse personal circumstances. Collateral for these loans generally includes automobiles, boats, recreational vehicles and real estate. However, depending on the overall financial condition of the borrower, some loans are made on an unsecured basis. The collateral securing these loans may depreciate over time, may be difficult to recover and may fluctuate in value based on condition. Key economic forecasts used in estimating expected credit losses for this segment include the Iowa unemployment rate and the Iowa real GDP. The allowance level is influenced by loan volumes, loan credit quality indicator migration or delinquency status, historic loss experience and other conditions influencing loss expectations, such as reasonable and supportable forecasts of economic conditions. The methodology for estimating the amount of expected credit losses reported in the allowance for credit losses has two basic components: first, a pooled component for estimated expected credit losses for pools of loans that share similar risk characteristics; and second, an asset-specific component involving individual loans that do not share risk characteristics with other loans and the measurement of expected credit losses for such individual loans. Depending on the nature of the pool of financial assets with similar risk characteristics, the Company uses a discounted cash flow method or remaining life method to estimate expected credit losses. Discounted cash flow method : In estimating the component of the allowance for credit losses for loans that share similar risk characteristics with other loans, such loans are segregated into loan classes. Loans are designated into loan classes based on loans pooled by product types and similar risk characteristics or areas of risk concentration. In determining the allowance for credit losses, we derive an estimated credit loss assumption from a model that categorizes loan pools based on loan type and purpose. This model calculates an expected loss percentage for each loan class by considering the probability of default, using life-of-loan analysis periods for all loan segments, and the historical severity of loss, based on the aggregate net lifetime losses incurred per loan class. The default and severity factors used to calculate the allowance for credit losses for loans that share similar risk characteristics with other loans are adjusted for differences between the historical period used to calculate historical default and loss severity rates and expected conditions over the remaining lives of the loans in the portfolio related to: (1) lending policies and procedures; (2) international, national, regional and local economic business conditions and developments that affect the collectability of the portfolio; (3) the nature and volume of the loan portfolio including the terms of the loans; (4) the experience, ability, and depth of the lending management and other relevant staff; (5) the volume and severity of past due and adversely classified or graded loans and the volume of nonaccrual loans; (6) the quality of our loan review system and (7) the value of underlying collateral for collateralized loans. Additional factors include the existence and effect of any concentrations of credit, and changes in the level of such concentrations and the effect of external factors such as competition and legal and regulatory requirements on the level of estimated credit losses in the existing portfolio. Such factors are used to adjust the historical probabilities of default and severity of loss so that they reflect management expectation of future conditions based on a reasonable and supportable forecast. The Company uses regression analysis of historical internal and peer data to determine which variables are best suited to be economic variables utilized when modeling lifetime probability of default and loss given default. This analysis also determines how expected probability of default and loss given default will react to forecasted levels of the economic variables. For all DCF models, management has determined that four quarters represents a reasonable and supportable forecast period and reverts back to a historical loss rate over twelve quarters on a straight-line basis. Other internal and external indicators of economic forecasts are also considered by management when developing the forecast metrics. Remaining life method: Expected credit losses for credit cards and overdrafts are determined through use of the remaining life method. The remaining life method utilizes average annual charge-off rates and remaining life to estimate the allowance for credit losses. This is done by estimating the amount and timing of principal payments expected to be received as payment for the balance outstanding as of the reporting period and applying those principal payments against the balance outstanding as of the reporting period along with the average annual charge-off rate until the expected payments have been fully allocated. Collateral dependent financial assets : For a loan that does not share risk characteristics with other loans, expected credit loss is measured based on net realizable value, that is, the difference between the discounted value of the expected future cash flows, based on the original effective interest rate, and the amortized cost basis of the loan. For these loans, we recognize expected credit loss equal to the amount by which the net realizable value of the loan is less than the amortized cost basis of the loan (which is net of previous charge- offs and deferred loan fees and costs), except when the loan is collateral dependent, that is, when the borrower is experiencing financial difficulty and repayment is expected to be provided substantially through the operation or sale of the collateral. In these cases, expected credit loss is measured as the difference between the amortized cost basis of the loan and the fair value of the collateral. The fair value of the collateral is adjusted for the estimated cost to sell if repayment or satisfaction of a loan is dependent on the sale (rather than only on the operation) of the collateral. The Company’s estimate of the ACL reflects losses expected over the contractual life of the assets, adjusted for estimated prepayments or curtailments. The contractual term does not consider extensions, renewals or modifications unless the Company has identified an expected troubled debt restructure (TDR). A loan that has been modified or renewed is considered a TDR when two conditions are met: 1) the borrower is experiencing financial difficulty and 2) concessions are made for the borrower's benefit that would not otherwise be considered for a borrower or transaction with similar credit risk characteristics. The Company’s ACL reflects all effects of a TDR when an individual asset is specifically identified as a reasonably expected TDR. The Company has determined that a TDR is reasonably expected no later than the point when the lender concludes that modification is the best course of action and it is at least reasonably possible that the troubled borrower will accept some form of concession from the lender to avoid a default. Reasonably expected TDRs and executed non-performing TDRs are evaluated individually to determine the required ACL. TDRs performing in accordance with their modified contractual terms for a reasonable period of time may be included in the Company’s existing pools based on the underlying risk characteristics of the loan to measure the ACL. Allowance for credit losses on off-balance sheet credit exposures, including unfunded loan commitments: The Company maintains a separate allowance for credit losses from off-balance-sheet credit exposures, including unfunded loan commitments, which is disclosed on the balance sheet. Management estimates the amount of expected losses by calculating a commitment usage factor over the contractual period for exposures that are not unconditionally cancellable by the Company and applying the loss factors used in the ACL methodology to the results of the usage calculation to estimate the liability for credit losses related to unfunded commitments for each loan type. No credit loss estimate is reported for off-balance-sheet (OBS) credit exposures that are unconditionally cancellable by the Company, such as credit card receivables, or for undrawn amounts under such arrangements that may be drawn prior to the cancellation of the arrangement. The allowance for credit losses on OBS credit exposures is adjusted as credit loss expense. Categories of OBS credit exposures correspond to the loan portfolio segments described previously. Troubled debt restructurings (“TDR loans”) : A loan is accounted for and reported as a troubled debt restructuring ("TDR") when, for economic or legal reasons, we grant a concession to a borrower experiencing financial difficulty that we would not otherwise consider. These concessions may include rate reductions, principal forgiveness, extension of maturity date and other actions intended to minimize potential losses to the Company. A restructuring that results in only an insignificant delay in payment is not considered a concession. A delay may be considered insignificant if the payments subject to the delay are insignificant relative to the unpaid principal or collateral value and the contractual amount due, or the delay in timing of the restructured payment period is insignificant relative to the frequency of payments, the debt's original contractual maturity or original expected duration. TDRs that are performing and on accrual status as of the date of the modification remain on accrual status. TDRs that are nonperforming as of the date of modification generally remain as nonaccrual until the prospect of future payments in accordance with the modified loan agreement is reasonably assured, generally demonstrated when the borrower maintains compliance with the restructured terms for a predetermined period, normally at least six months. TDRs with temporary below-market concessions remain designated as a TDR regardless of the accrual or performance status until the loan is paid off. However, if the TDR loan has been modified in a subsequent restructure with market terms and the borrower is not currently experiencing financial difficulty, then the loan is no longer classified as a TDR in the quarter following the modification. Management evaluates loans where there is a reasonable expectation at the reporting date that a troubled debt restructuring will be executed with an individual borrower for pur |
Earnings Per Share
Earnings Per Share | 9 Months Ended |
Sep. 30, 2022 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | Earnings Per Share Basic earnings per share is computed using the weighted average number of actual common shares outstanding during the period. Diluted earnings per share reflects the potential dilution that would occur from the exercise of common stock options outstanding. ESOP shares are considered outstanding for this calculation unless unearned. The computation of basic and diluted earnings per share for the periods presented is as follows: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Common shares outstanding at the beginning of the period 9,267,410 9,306,252 9,299,640 9,330,995 Weighted average number of net shares redeemed (3,569) (7,539) (24,256) (21,234) Weighted average shares outstanding (basic) 9,263,841 9,298,713 9,275,384 9,309,761 Weighted average of potential dilutive shares attributable to stock options granted, computed under the treasury stock method 676 3,731 1,935 3,605 Weighted average number of shares (diluted) 9,264,517 9,302,444 9,277,319 9,313,366 Net income (In thousands) $ 13,740 $ 13,125 $ 35,718 $ 41,932 Earnings per share: Basic $ 1.48 $ 1.41 $ 3.85 $ 4.50 Diluted $ 1.48 $ 1.41 $ 3.85 $ 4.50 |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income | 9 Months Ended |
Sep. 30, 2022 | |
Equity [Abstract] | |
Accumulated Other Comprehensive Income | Accumulated Other Comprehensive Income (Loss) The following table summarizes the balances of each component of accumulated other comprehensive (loss) income (AOCI), included in stockholders’ equity, at September 30, 2022 and December 31, 2021: September 30, 2022 December 31, 2021 (amounts in thousands) Net unrealized (loss) gain on available-for-sale securities $ (67,264) $ 1,968 Tax effect 16,305 (491) Net-of-tax amount $ (50,959) $ 1,477 |
Securities
Securities | 9 Months Ended |
Sep. 30, 2022 | |
Investments, Debt and Equity Securities [Abstract] | |
Securities | Securities The carrying values of investment securities at September 30, 2022 and December 31, 2021 are summarized in the following table (dollars in thousands): September 30, 2022 December 31, 2021 Amount Percent Amount Percent Securities available for sale U.S. Treasury $ 449,393 60.12 % $ 243,925 44.24 % Other securities (FHLB, FHLMC and FNMA) 31,577 4.22 34,467 6.25 State and political subdivisions 216,489 28.96 263,516 47.80 Mortgage-backed securities and collateralized mortgage obligations 50,094 6.70 9,446 1.71 Total securities available for sale $ 747,553 100.00 % $ 551,354 100.00 % Investment securities have been classified in the consolidated balance sheets according to management’s intent. Available-for-sale securities consist of debt securities not classified as trading or held to maturity. Available-for-sale securities are stated at fair value, and unrealized holding gains and losses, net of the related deferred tax effect, are reported as a separate component of stockholders' equity. Municipal bonds are comprised of general obligation bonds and revenue bonds issued by various municipal corporations. As of September 30, 2022 and December 31, 2021, all securities held were rated investment grade based upon external ratings where available and, where not available, based upon management knowledge of the local issuers and their financial situations. There were no trading or held to maturity securities as of September 30, 2022 or December 31, 2021. The carrying amount of available-for-sale securities, fair values and allowance for credit losses were as follows as of September 30, 2022 and December 31, 2021 (in thousands): Amortized Cost Gross Gross Allowance for Credit Losses Estimated Fair September 30, 2022 U.S. Treasury $ 477,725 $ — $ (28,332) $ — $ 449,393 Other securities (FHLB, FHLMC and FNMA) 35,279 — (3,702) — 31,577 State and political subdivisions 243,551 32 (27,094) — 216,489 Mortgage-backed securities and collateralized mortgage obligations 58,262 — (8,168) — $ 50,094 Total $ 814,817 $ 32 $ (67,296) $ — $ 747,553 December 31, 2021: U.S. Treasury $ 244,192 $ 2,011 $ (2,278) $ — $ 243,925 Other securities (FHLB, FHLMC and FNMA) 35,353 — (886) — 34,467 State and political subdivisions 260,266 4,420 (1,170) — 263,516 Mortgage-backed securities and collateralized mortgage obligations 9,575 — (129) — 9,446 Total $ 549,386 $ 6,431 $ (4,463) $ — $ 551,354 The amortized cost and estimated fair value of available-for-sale securities classified according to their contractual maturities at September 30, 2022, were as follows (in thousands) below. Expected maturities of MBS may differ from contractual maturities because the mortgages underlying the securities may be called or prepaid without any penalties. Therefore, these securities are not included in the maturity categories in the following summary. Amortized Fair Value Due in one year or less $ 70,189 $ 69,380 Due after one year through five years 534,977 500,740 Due after five years through ten years 106,929 93,201 Due over ten years 44,460 34,138 $ 756,555 $ 697,459 Mortgage-backed securities and collateralized mortgage obligations 58,262 50,094 $ 814,817 $ 747,553 As of September 30, 2022, investment securities with a carrying value of $9.02 million were pledged to collateralize other borrowings. As of September 30, 2022, there were no holdings of securities of any one issuer, other than the U.S. government and its agencies, in an amount greater than 10% of stockholders' equity. There were no sales of available-for-sale securities for the nine months ended September 30, 2022 and 2021. The following table shows the fair value, gross unrealized losses and the percentage of fair value represented by gross unrealized losses of applicable investment securities owned by the Company, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at September 30, 2022 and December 31, 2021 (in thousands): Less than 12 months 12 months or more Total September 30, 2022 # Fair Value Unrealized % # Fair Value Unrealized % # Fair Value Unrealized % U.S. Treasury 108 $ 348,659 $ (15,385) 4.41 % 45 $ 100,734 $ (12,947) 12.85 % 153 $ 449,393 $ (28,332) 6.30 % Other securities (FHLB, FHLMC and FNMA) — — — — 14 31,577 (3,702) 11.72 14 31,577 (3,702) 11.72 State and political subdivisions 627 157,266 (13,213) 8.40 224 55,661 (13,881) 24.94 851 212,927 (27,094) 12.72 Mortgage-backed securities and collateralized mortgage obligations 14 42,947 (6,369) 14.83 4 7,147 (1,799) 25.17 18 50,094 (8,168) 16.31 Total temporarily impaired securities 749 $ 548,872 $ (34,967) 6.37 % 287 $ 195,119 $ (32,329) 16.57 % 1,036 $ 743,991 $ (67,296) 9.05 % Less than 12 months 12 months or more Total December 31, 2021 # Fair Value Unrealized % # Fair Value Unrealized % # Fair Value Unrealized % U.S. Treasury 55 $ 136,867 $ (2,203) 1.61 % 1 $ 2,416 $ (75) 3.10 % 56 $ 139,283 $ (2,278) 1.64 % Other securities (FHLB, FHLMC and FNMA) 5 12,484 (303) 2.43 9 21,984 (583) 2.65 14 34,468 (886) 2.57 State and political subdivisions 231 70,542 (1,055) 1.50 14 9,248 (115) 1.24 245 79,790 (1,170) 1.47 Mortgage-backed securities and collateralized mortgage obligations 4 9,446 (129) 1.37 — — — — 4 9,446 (129) 1.37 Total temporarily impaired securities 295 $ 229,339 $ (3,690) 1.61 % 24 $ 33,648 $ (773) 2.30 % 319 $ 262,987 $ (4,463) 1.70 % The Company considered the following information in reaching the conclusion that the impairments disclosed in the table above are not attributable to credit losses. None of the unrealized losses in the above table was due to the deterioration in the credit quality of any of the issues that might result in the non-collection of contractual principal and interest. The unrealized losses are due to changes in interest rates. The Company has not recognized any unrealized loss in income because management does not have the intent to sell the securities included in the previous table. Management has concluded that it is more likely than not that the Company will not be required to sell these securities prior to recovery of the amortized cost basis. The securities are of high credit quality (investment grade credit ratings) and principal and interest payments are made timely with no payments past due as of September 30, 2022. The fair value is expected to recover as the securities approach maturity. The U.S. Treasury and other securities are issued and guaranteed by U.S. government-sponsored entities and agencies. The mortgage-backed securities and collateralized mortgage obligations have implied U.S. government guarantees of the agency |
Loans
Loans | 9 Months Ended |
Sep. 30, 2022 | |
Receivables [Abstract] | |
Loans | Loans Classes of loans are as follows: September 30, 2022 December 31, (Amounts In Thousands) Agricultural $ 98,555 $ 106,933 Commercial and financial 248,179 222,002 Real estate: Construction, 1 to 4 family residential 89,379 80,486 Construction, land development and commercial 165,431 127,021 Mortgage, farmland 248,103 232,744 Mortgage, 1 to 4 family first liens 1,060,888 909,564 Mortgage, 1 to 4 family junior liens 118,326 114,342 Mortgage, multi-family 435,666 382,792 Mortgage, commercial 397,048 401,377 Loans to individuals 35,355 32,687 Obligations of state and political subdivisions 49,191 50,285 $ 2,946,121 $ 2,660,233 Net unamortized fees and costs 274 299 $ 2,946,395 $ 2,660,532 Less allowance for credit losses 38,980 35,470 $ 2,907,415 $ 2,625,062 For the nine months ended September 30, 2022 and 2021, the Company recognized none and $5.48 million, respectively, of deferred Paycheck Protection Program (PPP) loan fees in interest income. Changes in the allowance for credit losses, the allowance for credit losses applicable to individually evaluated loans and the related loan balance of individually evaluated loans for the three and nine months ended September 30, 2022 were as follows: Three Months Ended September 30, 2022 Agricultural Commercial and Real Estate: Real Estate: Real Estate: Real Estate: Other Total (Amounts In Thousands) Allowance for credit losses: Beginning balance $ 2,265 $ 5,194 $ 2,772 $ 3,330 $ 12,233 $ 11,233 $ 1,233 $ 38,260 Charge-offs — (18) — (1) (222) — (163) (404) Recoveries 10 233 2 6 143 26 50 470 Credit loss expense (benefit) 195 (213) 690 (473) 631 (345) 169 654 Ending balance $ 2,470 $ 5,196 $ 3,464 $ 2,862 $ 12,785 $ 10,914 $ 1,289 $ 38,980 Nine Months Ended September 30, 2022 Agricultural Commercial and Real Estate: Real Estate: Real Estate: Real Estate: Other Total (Amounts In Thousands) Allowance for credit losses: Beginning balance $ 2,261 $ 4,269 $ 2,300 $ 3,433 $ 11,498 $ 10,498 $ 1,211 $ 35,470 Charge-offs (1) (309) — (21) (471) (1) (389) (1,192) Recoveries 78 445 7 296 686 76 114 1,702 Credit loss expense (benefit) 132 791 1,157 (846) 1,072 341 353 3,000 Ending balance $ 2,470 $ 5,196 $ 3,464 $ 2,862 $ 12,785 $ 10,914 $ 1,289 $ 38,980 Ending balance, individually evaluated for credit losses $ 295 $ 4 $ 55 $ — $ 42 $ 308 $ — $ 704 Ending balance, collectively evaluated for credit losses $ 2,175 $ 5,192 $ 3,409 $ 2,862 $ 12,743 $ 10,606 $ 1,289 $ 38,276 Loans: Ending balance $ 98,555 $ 248,179 $ 254,810 $ 248,103 $ 1,179,214 $ 832,714 $ 84,546 $ 2,946,121 Ending balance, individually evaluated for credit losses $ 552 $ 1,354 $ 392 $ 1,687 $ 5,637 $ 4,395 $ — $ 14,017 Ending balance, collectively evaluated for credit losses $ 98,003 $ 246,825 $ 254,418 $ 246,416 $ 1,173,577 $ 828,319 $ 84,546 $ 2,932,104 Changes in the allowance for credit losses for the three and nine months ended September 30, 2021 were as follows: Three Months Ended September 30, 2021 Agricultural Commercial and Real Estate: Real Estate: Real Estate: Real Estate: Other Total (Amounts In Thousands) Allowance for credit losses: Beginning balance $ 2,055 $ 4,802 $ 2,483 $ 4,904 $ 10,879 $ 9,707 $ 1,110 $ 35,940 Charge-offs — (14) — — (181) (255) (138) (588) Recoveries 29 431 2 — 140 23 21 646 Credit loss expense (benefit) 34 (871) (188) (241) 26 743 89 (408) Ending balance $ 2,118 $ 4,348 $ 2,297 $ 4,663 $ 10,864 $ 10,218 $ 1,082 $ 35,590 Nine Months Ended September 30, 2021 Agricultural Commercial and Real Estate: Real Estate: Real Estate: Real Estate: Other Total (Amounts In Thousands) Allowance for credit losses: Beginning balance, prior to adoption of ASC 326 $ 2,508 $ 4,885 $ 2,319 $ 4,173 $ 12,368 $ 9,415 $ 1,402 $ 37,070 Impact of adopting ASC 326 (328) 298 327 763 522 1,396 (232) 2,746 Charge-offs — (90) (3) (1) (263) (265) (234) (856) Recoveries 117 966 93 25 648 240 98 2,187 Credit loss expense (benefit) (179) (1,711) (439) (297) (2,411) (568) 48 (5,557) Ending balance $ 2,118 $ 4,348 $ 2,297 $ 4,663 $ 10,864 $ 10,218 $ 1,082 $ 35,590 Ending balance, individually evaluated for credit losses $ 3 $ 4 $ 128 $ 4 $ 59 $ 5 $ — $ 203 Ending balance, collectively evaluated for credit losses $ 2,115 $ 4,344 $ 2,169 $ 4,659 $ 10,805 $ 10,213 $ 1,082 $ 35,387 Loans: Ending balance $ 94,210 $ 228,181 $ 191,790 $ 241,650 $ 1,013,641 $ 799,855 $ 84,534 $ 2,653,861 Ending balance, individually evaluated for credit losses $ 1,426 $ 1,394 $ 1,028 $ 1,583 $ 5,566 $ 5,758 $ — $ 16,755 Ending balance, collectively evaluated for credit losses $ 92,784 $ 226,787 $ 190,762 $ 240,067 $ 1,008,075 $ 794,097 $ 84,534 $ 2,637,106 The allowance for credit losses, the allowance for credit losses applicable to individually and collectively evaluated loans and the related loan balances as of December 31, 2021: Agricultural Commercial and Financial Real Estate: Construction Real Estate: Real Estate: Real Estate: Other Total (Amounts In Thousands) 2021 Allowance for credit losses: Ending balance $ 2,261 $ 4,269 $ 2,300 $ 3,433 $ 11,498 $ 10,498 $ 1,211 $ 35,470 Ending balance, individually evaluated for credit losses $ 1 $ 189 $ 124 $ — $ 49 $ 1 $ 20 $ 384 Ending balance, collectively evaluated for credit losses $ 2,260 $ 4,080 $ 2,176 $ 3,433 $ 11,449 $ 10,497 $ 1,191 $ 35,086 Loan balances: Ending balance $ 106,933 $ 222,002 $ 207,507 $ 232,744 $ 1,023,906 $ 784,169 $ 82,972 $ 2,660,233 Ending balance, individually evaluated for credit losses $ 788 $ 2,062 $ 603 $ 1,277 $ 6,187 $ 5,696 $ 20 $ 16,633 Ending balance, collectively evaluated for credit losses $ 106,145 $ 219,940 $ 206,904 $ 231,467 $ 1,017,719 $ 778,473 $ 82,952 $ 2,643,600 Changes in the allowance for credit losses for off-balance sheet credit exposures for the three and nine months ended September 30, 2022 and 2021 were as follows: Three Months Ended September 30, 2022 Agricultural Commercial and Real Estate: Real Estate: Real Estate: Real Estate: Other Total (Amounts In Thousands) Allowance for credit losses for off-balance sheet credit exposures: Beginning balance $ 659 $ 1,776 $ 1,182 $ 115 $ 1,025 $ 300 $ 53 $ 5,110 Credit loss expense (benefit) (140) (714) 424 50 (399) (192) (19) (990) (Charge-offs), net recoveries — — — — — — — — Ending balance $ 519 $ 1,062 $ 1,606 $ 165 $ 626 $ 108 $ 34 $ 4,120 Three Months Ended September 30, 2021 Agricultural Commercial and Real Estate: Real Estate: Real Estate: Real Estate: Other Total (Amounts In Thousands) Allowance for credit losses for off-balance sheet credit exposures: Beginning balance $ 494 $ 1,529 $ 864 $ 107 $ 791 $ 275 $ 30 $ 4,090 Credit loss expense (benefit) 15 117 132 61 13 156 (4) 490 (Charge-offs), net recoveries — — — — — — — — Ending balance $ 509 $ 1,646 $ 996 $ 168 $ 804 $ 431 $ 26 $ 4,580 Nine Months Ended September 30, 2022 Agricultural Commercial and Real Estate: Real Estate: Real Estate: Real Estate: Other Total (Amounts In Thousands) Allowance for credit losses for off-balance sheet credit exposures: Beginning balance $ 383 $ 1,118 $ 849 $ 113 $ 794 $ 559 $ 34 $ 3,850 Credit loss expense (benefit) 136 (56) 757 52 (168) (451) — 270 (Charge-offs), net recoveries — — — — — — — — Ending balance $ 519 $ 1,062 $ 1,606 $ 165 $ 626 $ 108 $ 34 $ 4,120 Nine Months Ended September 30, 2021 Agricultural Commercial and Real Estate: Real Estate: Real Estate: Real Estate: Other Total (Amounts In Thousands) Allowance for credit losses for off-balance sheet credit exposures: Beginning balance, prior to adoption of ASC 326 $ — $ — $ — $ — $ — $ — $ — $ — Impact of adopting ASC 326 385 1,585 736 180 471 212 15 3,584 Credit loss expense (benefit) 124 61 260 (12) 333 219 11 996 (Charge-offs), net recoveries — — — — — — — — Ending balance $ 509 $ 1,646 $ 996 $ 168 $ 804 $ 431 $ 26 $ 4,580 The allowance for credit losses for off-balance sheet credit exposures as of December 31, 2021 were as follows: Year Ended December 31, 2021 Agricultural Commercial and Real Estate: Real Estate: Real Estate: Real Estate: Other Total (Amounts In Thousands) Ending balance $ 383 $ 1,118 $ 849 $ 113 $ 794 $ 559 $ 34 $ 3,850 Credit loss expense for off-balance sheet credit exposures is included in credit loss expense on the consolidated statement of income for the nine months ended September 30, 2022 and 2021. Management regularly reviews loans in the portfolio to assess credit quality indicators and to determine appropriate loan classification and grading in accordance with applicable bank regulations. The Company's risk rating methodology assigns risk ratings ranging from 1 to 6, where a higher rating represents higher risk. The Company differentiates its lending portfolios into loans sharing common risk characteristics for which expected credit loss is measured on a pool basis and loans not sharing common risk characteristics for which credit loss is measured individually. The below are descriptions of the credit quality indicators: Excellent – Excellent rated loans are prime quality loans covered by highly liquid collateral with generous margins or supported by superior current financial conditions reflecting substantial net worth, relative to total credit extended, and based on assets of a stable and non-speculative nature whose values can be readily verified. Identified repayment source or cash flow is abundant and assured. Loans are secured with cash, cash equivalents, or collateral with very low loan to values. The borrower would qualify for unsecured debt and guarantors provide excellent secondary support to the relationship. The borrower has a long-term relationship with Hills Bank, maintains high deposit balances and has an established payment history with Hills Bank and an established business in an established industry. Good – Good rated loans are adequately secured by readily marketable collateral or good financial condition characterized by liquidity, flexibility and sound net worth. Loans are supported by sound primary and secondary payment sources and timely and accurate financial information. The relationship is not quite as strong as a borrower that is assigned an excellent rating but still has a very strong liquidity position, low leverage, and track record of strong performance. These loans have a strong collateral position with limited risk to bank capital. The collateral will not materially lose value in a distressed liquidation. Guarantors provide additional secondary support to mitigate possible bank losses. The borrower has a long-term relationship with Hills Bank with an established track record of payments; loans with shorter remaining loan amortization; deposit balances are consistent; loan payments could be made from cash reserves in the interim period; and source of income is coming from a stable industry. Satisfactory – Satisfactory rated loans are loans to borrowers of average financial means not especially vulnerable to changes in economic or other circumstances, where the major support for the extension is sufficient collateral of a marketable nature, and the primary source of repayment is seen to be clear and adequate. The borrower's financial performance is consistent, ratios and trends are positive and the primary repayment source can clearly be identified and supported with acceptable financial information. The loan relationship could be vulnerable to changes in economic or industry conditions but have the ability to absorb unexpected issues. The loan collateral coverage is considered acceptable and guarantors can provide financial support but net worth might not be as liquid as a 1 or 2 rated relationship. The borrower has an established relationship with Hills Bank. The relationship is making timely loan payments, any operating line is revolving and deposit balances are positive with limited to no overdrafts. Management and industry is considered stable. Monitor – Monitor rated loans are identified by management as warranting special attention for a variety of reasons that may bear on ultimate collectability. This may be due to adverse trends, a particular industry, loan structure, or repayment that is dependent on projections, or a one-time occurrence . The relationship l iquidity levels are minimal and the borrower’s leverage position is brought into question. The primary repayment source is showing signs of being stressed or is not proven. If the borrower performs as planned, the loan will be repaid. The collateral coverage is still considered acceptable but there might be some concern with the type of real estate securing the debt or highly dependent on chattel assets. Some loans may be better secured than others. Guarantors still provide some support but there is not an abundance of financial strength supporting the guaranty. A monitor credit may be appropriate when the borrower is experiencing rapid growth which is impacting liquidity levels and increasing debt levels. Other attributes to consider would include if the business is a start-up or newly acquired, if the relationship has significant financing relationships with other financial institutions, the quality of financial information being received, management depth of the company, and changes to the business model. The track history with Hills Bank has some deficiencies such as slow payments or some overdrafts. Special Mention – Special mention rated loans are supported by a marginal payment capacity and are marginally protected by collateral. There are identified weaknesses that if not monitored and corrected may adversely affect the Company’s credit position. A special mention credit would typically have a weakness in one of the general categories (cash flow, collateral position or payment history) but not in all categories. Potential indicators of a special mention would include past due payments, overdrafts, management issues, poor financial performance, industry issues, or the need for additional short-term borrowing. The ability to continue to make payments is in question; there are “red flags” such as past due payments, non-revolving credit lines, overdrafts, and the inability to sell assets. The borrower is experiencing delinquent taxes, legal issues, etc., obtaining financial information has become a challenge, collateral coverage is marginal at best, and the value and condition could be brought into question. Collateral document deficiencies have been noted and if not addressed, could become material. Guarantors provide minimal support for this relationship. The credit may include an action plan or follow up established in the asset quality process. There is a change in the borrower’s communication pattern. Industry issues may be impacting the relationship. Adverse credit scores or history of payment deficiencies could be noted. Substandard – Substandard loans are not adequately supported by the paying capacity of the borrower and may be inadequately collateralized. These loans have a well-defined weakness or weaknesses. Full repayment of the loan(s) according to the original terms and conditions is in question or not expected. For these loans, it is more probable than not that the Company could sustain some loss if the deficiency(ies) is not corrected. There are identified shortfalls in the primary repayment source such as carry over debt, past due payments, and overdrafts. Obtaining quality and timely financial information is a weakness. The loan is under secured with exposure that could impact bank capital. It appears the liquidation of collateral has become the repayment source. The collateral may be difficult to foreclose or have little to no value. Collateral documentation deficiencies have been noted during the review process. Guarantor(s) provide minimal to no support of the relationship. The borrower’s communication with the bank continues to decrease and the borrower is not addressing the situation. There is some concern about the borrower’s ability and willingness to repay the loans. Problems may be the result of external issues such as economic or industry related issues. The following tables present the credit quality indicators and origination years by type of loan in each category as of September 30, 2022 (amounts in thousands): Agricultural September 30, 2022 2022 2021 2020 2019 2018 Prior Revolving Loans Amortized Cost Basis Total Grade: Excellent $ 749 $ — $ 223 $ 20 $ 3 $ — $ 1,397 $ 2,392 Good 2,147 633 1,133 430 36 16 4,685 9,080 Satisfactory 12,541 4,596 2,721 1,006 1,253 65 21,559 43,741 Monitor 11,712 2,442 2,213 943 420 225 20,652 38,607 Special Mention 70 — — — — — 571 641 Substandard 750 — 288 60 176 — 2,820 4,094 Total $ 27,969 $ 7,671 $ 6,578 $ 2,459 $ 1,888 $ 306 $ 51,684 $ 98,555 Commercial and Financial September 30, 2022 2022 2021 2020 2019 2018 Prior Revolving Loans Amortized Cost Basis Total Grade: Excellent $ 1,252 $ 758 $ 554 $ — $ 202 $ — $ 4,178 $ 6,944 Good 14,265 8,648 3,110 627 134 1,148 10,092 38,024 Satisfactory 45,706 26,361 12,751 5,097 2,366 900 53,506 146,687 Monitor 13,176 9,225 6,545 1,354 702 602 19,448 51,052 Special Mention 597 350 335 161 34 — 456 1,933 Substandard 1,043 461 — 47 — — 1,988 3,539 Total $ 76,039 $ 45,803 $ 23,295 $ 7,286 $ 3,438 $ 2,650 $ 89,668 $ 248,179 Real Estate: Construction, 1 to 4 Family Residential September 30, 2022 2022 2021 2020 2019 2018 Prior Revolving Loans Amortized Cost Basis Total Grade: Excellent $ — $ — $ — $ — $ — $ — $ — $ — Good 212 1,192 — — — — 21,356 22,760 Satisfactory 2,169 3,223 — — — — 41,936 47,328 Monitor — — — — — — — — Special Mention 984 — — — — — 18,202 19,186 Substandard — 105 — — — — — 105 Total $ 3,365 $ 4,520 $ — $ — $ — $ — $ 81,494 $ 89,379 Real Estate: Construction, Land Development and Commercial September 30, 2022 2022 2021 2020 2019 2018 Prior Revolving Loans Amortized Cost Basis Total Grade: Excellent $ 375 $ — $ — $ — $ — $ 132 $ 1,292 $ 1,799 Good 2,306 584 947 — — 227 19,733 23,797 Satisfactory 15,940 12,707 1,200 1,345 254 900 59,340 91,686 Monitor — — — — — — — — Special Mention 7,784 3,391 227 6 34 72 29,350 40,864 Substandard 6,998 191 96 — — — — 7,285 Total $ 33,403 $ 16,873 $ 2,470 $ 1,351 $ 288 $ 1,331 $ 109,715 $ 165,431 Real Estate: Mortgage, Farmland September 30, 2022 2022 2021 2020 2019 2018 Prior Revolving Loans Amortized Cost Basis Total Grade: Excellent $ 3,058 $ 58 $ 282 $ 68 $ — $ 4 $ 120 $ 3,590 Good 20,914 13,439 7,917 1,626 965 3,434 5,224 53,519 Satisfactory 39,819 44,509 21,598 3,832 6,096 9,626 10,990 136,470 Monitor 26,598 5,464 6,020 3,309 891 975 3,090 46,347 Special Mention 4,185 96 208 284 — 28 — 4,801 Substandard 2,797 — — 60 336 183 — 3,376 Total $ 97,371 $ 63,566 $ 36,025 $ 9,179 $ 8,288 $ 14,250 $ 19,424 $ 248,103 Real Estate: Mortgage, 1 to 4 Family First Liens September 30, 2022 2022 2021 2020 2019 2018 Prior Revolving Loans Amortized Cost Basis Total Grade: Excellent $ 1,396 $ 453 $ 265 $ — $ 10 $ 515 $ — $ 2,639 Good 22,265 4,842 8,574 1,247 2,165 10,231 1,964 51,288 Satisfactory 290,081 204,279 141,224 53,471 49,188 132,555 13,104 883,902 Monitor 26,097 23,646 25,438 4,180 5,168 10,431 5,737 100,697 Special Mention 1,148 1,215 2,623 1,590 889 4,063 1 11,529 Substandard 414 1,916 1,798 615 1,572 4,518 — 10,833 Total $ 341,401 $ 236,351 $ 179,922 $ 61,103 $ 58,992 $ 162,313 $ 20,806 $ 1,060,888 Real Estate: Mortgage, 1 to 4 Family Junior Liens September 30, 2022 2022 2021 2020 2019 2018 Prior Revolving Loans Amortized Cost Basis Total Grade: Excellent $ — $ — $ 9 $ — $ — $ — $ 16 $ 25 Good 228 190 474 93 — 543 1,418 2,946 Satisfactory 11,891 11,245 8,129 4,667 5,073 7,806 60,297 109,108 Monitor 399 275 432 94 289 197 2,742 4,428 Special Mention 55 121 351 64 41 186 106 924 Substandard 49 57 200 100 78 29 382 895 Total $ 12,622 $ 11,888 $ 9,595 $ 5,018 $ 5,481 $ 8,761 $ 64,961 $ 118,326 Real Estate: Mortgage, Multi-Family September 30, 2022 2022 2021 2020 2019 2018 Prior Revolving Loans Amortized Cost Basis Total Grade: Excellent $ 299 $ 3,155 $ 2,644 $ — $ — $ 649 $ — $ 6,747 Good 18,318 15,669 26,865 29 — 8,821 — 69,702 Satisfactory 98,677 96,242 29,386 2,385 475 14,563 10,661 252,389 Monitor 47,748 24,592 25,899 171 — 1,340 7,078 106,828 Special Mention — — — — — — — — Substandard — — — — — — — — Total $ 165,042 $ 139,658 $ 84,794 $ 2,585 $ 475 $ 25,373 $ 17,739 $ 435,666 Real Estate: Mortgage, Commercial September 30, 2022 2022 2021 2020 2019 2018 Prior Revolving Loans Amortized Cost Basis Total Grade: Excellent $ 2,050 $ 582 $ 21,625 $ — $ — $ 1,186 $ — $ 25,443 Good 19,117 23,256 14,800 2,071 1,292 5,809 11,695 78,040 Satisfactory 51,658 63,796 40,355 10,960 8,625 17,073 18,404 210,871 Monitor 20,450 16,183 24,262 3,052 1,543 7,401 4,601 77,492 Special Mention 536 892 465 169 — 245 — 2,307 Substandard 267 362 1,848 126 194 96 2 2,895 Total $ 94,078 $ 105,071 $ 103,355 $ 16,378 $ 11,654 $ 31,810 $ 34,702 $ 397,048 Loans to Individuals September 30, 2022 2022 2021 2020 2019 2018 Prior Revolving Loans Amortized Cost Basis Total Grade: Excellent $ 58 $ — $ — $ — $ — $ — $ — $ 58 Good 22 — — 18 — — 2 42 Satisfactory 11,077 7,316 3,117 1,084 435 11,387 111 34,527 Monitor 221 202 73 16 28 — 2 542 Special Mention 65 60 6 6 1 — 1 139 Substandard 22 8 6 4 6 — 1 47 Total $ 11,465 $ 7,586 $ 3,202 $ 1,128 $ 470 $ 11,387 $ 117 $ 35,355 Obligations of State and Political Subdivisions September 30, 2022 2022 2021 2020 2019 2018 Prior Revolving Loans Amortized Cost Basis Total Grade: Excellent $ — $ — $ — $ — $ — $ 5,078 $ — $ 5,078 Good — — 1,899 — — 8,516 — 10,415 Satisfactory 2,599 844 1,975 1,523 589 14,282 8,986 30,798 Monitor — — 849 189 99 1,763 — 2,900 Special Mention — — — — — — — — Substandard — — — — — — — — Total $ 2,599 $ 844 $ 4,723 $ 1,712 $ 688 $ 29,639 $ 8,986 $ 49,191 The following table presents the credit quality indicators by type of loans in each category as of December 31, 2021 (amounts in thousands): Agricultural December 31, 2021 2021 2020 2019 2018 2017 Prior Revolving Loans Amortized Cost Basis Total Grade: Excellent $ 762 $ 213 $ 30 $ 10 $ — $ — $ 2,312 $ 3,327 Good 1,799 1,767 603 46 52 26 7,593 11,886 Satisfactory 10,335 6,404 1,476 1,770 403 66 26,285 46,739 Monitor 8,125 5,017 998 765 164 253 23,995 39,317 Special Mention 1,662 11 85 — 7 — 2,807 4,572 Substandard 592 69 203 — — — 228 1,092 Total $ 23,275 $ 13,481 $ 3,395 $ 2,591 $ 626 $ 345 $ 63,220 $ 106,933 Commercial and Financial December 31, 2021 2021 2020 2019 2018 2017 Prior Revolving Loans Amortized Cost Basis Total Grade: Excellent $ 965 $ 924 $ 4 $ 235 $ 31 $ — $ 3,391 $ 5,550 Good 13,722 5,570 1,105 1,086 276 1,494 20,709 43,962 Satisfactory 44,964 20,847 7,684 3,582 2,106 331 41,832 121,346 Monitor 18,337 8,019 3,591 1,123 297 416 13,368 45,151 Special Mention 603 525 353 70 102 4 174 1,831 Substandard 1,092 670 266 54 92 — 1,988 4,162 Total $ 79,683 $ 36,555 $ 13,003 $ 6,150 $ 2,904 $ 2,245 $ 81,462 $ 222,002 Real Estate: Construction, 1 to 4 Family Residential December 31, 2021 2021 2020 2019 2018 2017 Prior Revolving Loans Amortized Cost Basis Total Grade: Excellent $ — $ — $ — $ — $ — $ — $ — $ — Good 212 — — — — — 18,755 18,967 Satisfactory 7,457 94 — — — — 42,988 50,539 Monitor 1,307 — — — — — 9,187 10,494 Special Mention — — — — — — 374 374 Substandard 111 — — — — — 1 112 Total $ 9,087 $ 94 $ — $ — $ — $ — $ 71,305 $ 80,486 Real Estate: Construction, Land Development and Commercial December 31, 2021 2021 2020 2019 2018 2017 Prior Revolving Loans Amortized Cost Basis Total Grade: Excellent $ 5,079 $ — $ — $ — $ 143 $ 4 $ — $ 5,226 Good 3,294 1,200 — — 153 242 12,678 17,567 Satisfactory 22,907 4,354 2,356 263 1,081 21 40,048 71,030 Monitor 5,694 547 7 38 74 — 18,832 25,192 Special Mention — — — — — — — — Substandard 7,515 298 193 — — — — 8,006 Total $ 44,489 $ 6,399 $ 2,556 $ 301 $ 1,451 $ 267 $ 71,558 $ 127,021 Real Estate: Mortgage, Farmland December 31, 2021 2021 2020 2019 2018 2017 Prior Revolving Loans Amortized Cost Basis Total Grade: Excellent $ — $ 3,568 $ 124 $ 60 $ 80 $ 41 $ 134 $ 4,007 Good 17,827 14,308 2,144 2,460 5,932 3,929 3,844 50,444 Satisfactory 51,639 35,616 4,689 8,358 6,745 8,339 8,242 123,628 Monitor 8,532 16,925 5,518 3,901 2,154 4,866 5,695 47,591 Special Mention 4,031 288 — — 298 190 — 4,807 Substandard 1,283 447 291 47 — 199 — 2,267 Total $ 83,312 $ 71,152 $ 12,766 $ 14,826 $ 15,209 $ 17,564 $ 17,915 $ 232,744 Real Estate: Mortgage, 1 to 4 Family First Liens December 31, 2021 2021 2020 2019 2018 2017 Prior Revolving Loans Amortized Cost Basis Total Grade: Excellent $ 462 $ 914 $ 427 $ 19 $ 149 $ 404 $ 1 $ 2,376 Good 9,598 12,300 3,124 3,443 3,091 10,943 2,496 44,995 Satisfactory 233,412 189,247 69,037 65,201 60,906 118,608 8,443 744,854 Monitor 24,908 33,863 5,038 6,527 7,273 12,203 4,066 93,878 Special Mention 1,682 3,422 887 962 1,051 3,168 — 11,172 Substandard 1,571 1,261 1,129 1,609 576 6,142 1 12,289 Total $ 271,633 $ 241,007 $ 79,642 $ 77,761 $ 73,046 $ 151,468 $ 15,007 $ 909,564 Real Estate: Mortgage, 1 to 4 Family Junior Liens December 31, 2021 2021 2020 2019 2018 2017 Prior Revolving Loans Amortized Cost Basis Total Grade: Excellent $ — $ 13 $ — $ — $ — $ — $ 6 $ 19 Good 193 611 96 — 108 482 1,374 2,864 Satisfactory 13,684 10,116 5,854 7,309 5,230 6,053 55,496 103,742 Monitor 326 1,233 70 365 140 281 2,801 5,216 Special Mention 103 489 35 56 42 110 142 977 Substandard 77 209 79 441 74 99 545 1,524 Total $ 14,383 $ 12,671 $ 6,134 $ 8,171 $ 5,594 $ 7,025 $ 60,364 $ 114,342 Real Estate: Mortgage, Multi-Family December 31, 2021 2021 2020 2019 2018 2017 Prior Revolving Loans Amortized Cost Basis Total Grade: Excellent $ 2,539 $ 4,513 $ — $ — $ — $ 701 $ — $ 7,753 Good 16,931 35,396 1,555 — — 9,289 — 63,171 Satisfactory 107,192 69,287 13,635 2,030 1,561 14,660 14,764 223,129 Monitor 26,088 35,886 176 — 131 1,584 5,669 69,534 Special Mention 640 — 820 — — — — 1,460 Substandard 12,186 — — — — 5,559 — 17,745 Total $ 165,576 $ 145,082 $ 16,186 $ 2,030 $ 1,692 $ 31,793 $ 20,433 $ 382,792 Real Estate: Mortgage, Commercial December 31, 2021 2021 2020 2019 2018 2017 Prior Revolving Loans Amortized Cost Basis Total Grade: Excellent $ 597 $ 16,781 $ — $ — $ 3,313 $ 350 $ 1 $ 21,042 Good 20,143 36,773 2,619 1,356 3,811 7,085 9,812 81,599 Satisfactory 75,040 52,653 14,727 12,091 9,707 17,398 16,333 197,949 Monitor 18,664 49,774 3,923 2,202 3,037 8,461 3,387 89,448 Special Mention 5,791 795 303 — 554 337 — 7,780 Substandard 1,528 1,721 — 208 — 102 — 3,559 Total $ 121,763 $ 158,497 $ 21,572 $ 15,857 $ 20,422 $ 33,733 $ 29,533 $ 401,377 Loans to Individuals December 31, 2021 2021 2020 2019 2018 2017 Prior Revolving Loans Amortized Cost Basis Total Grade: Excellent $ — $ — $ — $ — $ — $ — $ — $ — Good — — 67 21 5 — 1 94 Satisfactory 12,162 5,606 2,212 967 141 10,867 57 32,012 Monitor 200 160 15 46 3 — 1 425 Special Mention 37 32 29 4 — — 1 103 Substandard 12 24 12 — 1 3 1 53 Total $ 12,411 $ 5,822 $ 2,335 $ 1,038 $ 150 $ 10,870 $ 61 $ 32,687 Obligations of State and Political Subdivisions December 31, 2021 2021 2020 2019 2018 2017 Prior Revolving Loans Amortized Cost Basis Total Grade: Excellent $ — $ — $ — $ — $ — $ 6,076 $ — $ 6,076 Good — 1,984 — — — 9,051 — 11,035 Satisfactory 1,009 2,034 1,551 706 11,557 3,634 9,400 29,891 Monitor — 933 203 249 — 1,898 — 3,283 Special Mention — — — — — — — — Substandard — — — — — — — — Total $ 1,009 $ 4,951 $ 1,754 $ 955 $ 11,557 $ 20,659 $ 9,400 $ 50,285 Past due loans as of September 30, 2022 and December 31, 2021 were as follows: 30 - 59 Days 60 - 89 Days 90 Days Total Past Current Total Accruing Loans (Amounts In Thousands) September 30, 2022 Agricultural $ 202 $ — $ — $ 202 $ 98,353 $ 98,555 $ — Commercial and financial 701 618 6 1,325 246,854 248,179 — Real estate: Construction, 1 to 4 family residential 3,428 — 105 3,533 85,846 89,379 — Construction, land development and commercial 151 56 287 494 164,937 165,431 — Mortgage, farmland 118 — 60 178 247,925 248,103 — Mortgage, 1 to 4 family first liens 842 2,423 2,253 5,518 1,055,370 1,060,888 386 Mortgage, 1 to 4 family junior liens 53 30 16 99 118,227 118,326 7 Mortgage, multi-family — — — — 435,666 435,666 — Mortgage, commercial 2,949 181 1,145 4,275 392,773 397,048 — Loans to individuals 191 45 — 236 35,119 35,355 — Obligations of state and political subdivisions — — — — 49,191 49,191 — $ 8,635 $ 3,353 $ 3,872 $ 15,860 $ 2,930,261 $ 2,946,121 $ 393 December 31, 2021 Agricultural $ 41 $ — $ 219 $ 260 $ 106,673 $ 106,933 $ 6 Commercial and financial 300 537 468 1,305 220,697 222,002 91 Real estate: Construction, 1 to 4 family residential 276 — — 276 80,210 80,486 — Construction, land development and commercial 194 66 96 356 126,665 127,021 — Mortgage, farmland 503 362 — 865 231,879 232,744 — Mortgage, 1 to 4 family first liens 5,085 864 2,481 8,430 901,134 909,564 104 Mortgage, 1 to 4 family junior liens 246 41 124 411 113,931 114,342 — Mortgage, multi-family 640 — — 640 382,152 382,792 — Mortgage, commercial 466 — 829 1,295 400,082 401,377 — Loans to individuals 177 26 5 208 32,479 32,687 — Obligations of state and political subdivisions 394 — — 394 49,891 50,285 — $ 8,322 $ 1,896 $ 4,222 $ 14,440 $ 2,645,793 $ 2,660,233 $ 201 The Company does not have a material amount of loans that are past due less than 90 days where there are serious doubts as to the ability of the borrowers to comply with the loan repayment terms. Certain nonaccrual and TDR loan information by loan type at September 30, 2022 and December 31, 2021, was as follows: September 30, 2022 December 31, 2021 Non-accrual Accruing loans TDR loans Non- Accruing loans TDR loans (Amounts In Thousands) (Amounts In Thousands) Agricultural $ — $ — $ 23 $ 221 $ 6 $ 374 Commercial and financial 678 — 675 707 91 1,085 Real estate: Construction, 1 to 4 family residential 105 — — 111 — — Construction, land development and commercial 287 — — 290 — 202 Mortgage, farmland 643 — 1,045 251 — 1,206 Mortgage, 1 to 4 family first liens 4,055 386 1,170 4,685 104 1,364 Mortgage, 1 to 4 family junior liens 178 7 19 200 — 20 Mortgage, multi-family — — 625 — — 1,460 Mortgage, commercial 1,819 — 1,952 2,026 — 2,210 Loans to individuals — — — — — — Obligations of state and political subdivisions — — — — — — $ 7,765 $ 393 $ 5,509 $ 8,491 $ 201 $ 7,921 (1) There were $3.18 million and $2.28 million of TDR loans included within nonaccrual loans as of September 30, 2022 and December 31, 2021, respectively. Loans 90 days or more past due that are still accruing interest increased $0.19 million from December 31, 2021 to September 30, 2022. As of September 30, 2022, there were four accruing loans past due 90 days or more with an average loan balance of $0.98 million. There were 6 accruing loans past due 90 days or more as of December 31, 2021 with an average loan balance of $0.03 million. The accruing loans past due 90 days or more balances are believed to be adequately collateralized and the Company expects to collect all principal and interest as contractually due under these loans. There was no interest income recognized on nonaccrual loans for the nine months ended September 30, 2022 and year ended December 31, 2021. The Company may modify the terms of a loan to maximize the collection of amounts due. Such a modification is considered a troubled debt restructuring (“TDR”). In most cases, the modification is either a reduction in interest rate, conversion to interest only payments or an extension of the maturity date. The borrower is experiencing financial difficulties or is expected to experience difficulties in the near-term, so a concessionary modification is granted to the borrower that would otherwise not be considered. TDR loans accrue interest as long as the borrower complies with the revised terms and conditions and has demonstrated repayment performance at a level commensurate with the modified terms over several payment cycles. Section 4013 of the CARES Act, “Temporary Relief From Troubled Debt Restructurings,” allows financial institutions the option to temporarily suspend certain requirements under GAAP related to TDRs for a limited period of time during the COVID-19 pandemic. As of September 30, 2022, the total amount of the eligible loans in deferral (deferral of principal and/or interest) that met the requirements set forth under the CARES Act and therefore were not considered TDRs was 16 loans, totaling $7.4 million. As of December 31, 2021, there were 16 loans, totaling $9.4 million that met the requirements and were not considered TDRs. As of September 30, 2022 and December 31, 2021, COVID-19 related payment deferrals were approximately 0.03% and 0.12% of total loans, respectively. Below is a summary of information for TDR loans as of September 30, 2022 and December 31, 2021: September 30, 2022 December 31, 2021 Number Recorded Commitments Number Recorded Commitments (Amounts In Thousands) (Amounts In Thousands) Agricultural 1 $ 23 $ 140 4 |
Leases
Leases | 9 Months Ended |
Sep. 30, 2022 | |
Leases [Abstract] | |
Leases | LeasesThe Bank leases branch offices, parking facilities and certain equipment under operating leases. The leases have remaining lease terms of 1 year to 15 years, some of which include options to extend the leases for up to 10 years, and some of which include options to terminate the leases within 1 year. As the options are reasonably certain to be exercised, they are recognized as part of the right-of-use assets and lease liabilities. For the nine months ended September 30, 2022 and 2021, total operating lease expense was $0.44 million and $0.44 million respectively, and is included in occupancy expenses in the consolidated statements of income. Included in this for the nine months ended September 30, 2022 and 2021 were $0.38 million and $0.37 million, respectively, of operating lease costs, $0.03 million and $0.03 million, respectively, of short term lease costs, and $0.03 million and $0.04 million, respectively, of variable lease costs. For the nine months ended September 30, 2022 and 2021, cash paid for amounts included in the measurement of operating lease liabilities was $0.38 million and $0.38 million, respectively. As of September 30, 2022 and December 31, 2021, operating lease right-of-use assets included in other assets was $2.21 million and $2.47 million respectively. Operating lease liabilities included in other liabilities were $2.29 million and $2.53 million as of September 30, 2022 and December 31, 2021. As of September 30, 2022 and December 31, 2021, the weighted average remaining lease term for operating leases was 9.72 years and 9.94 years, respectively, and the weighted average discount rate for operating leases was 3.52% and 3.49%, respectively. Discount rates used were determined from FHLB borrowing rates for comparable terms. As of September 30, 2022, maturities of lease liabilities were as follows: Year ending December 31: (Amounts In Thousands) 2022 (excluding the nine months ended September 30, 2022) $ 118 2023 327 2024 260 2025 263 2026 266 Thereafter 1,503 Total lease payments 2,737 Less imputed interest (446) Total operating lease liabilities $ 2,291 |
Fair Value Measurements
Fair Value Measurements | 9 Months Ended |
Sep. 30, 2022 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | Fair Value Measurements The carrying value and estimated fair values of the Company's financial instruments as of September 30, 2022 are as follows: September 30, 2022 Carrying Estimated Fair Readily Observable Company (Amounts In Thousands) Financial instrument assets: Cash and cash equivalents $ 242,121 $ 242,121 $ 242,121 $ — $ — Investment securities 747,553 747,553 449,393 298,160 — Loans held for sale 2,664 2,664 — 2,664 — Loans, net of allowance for credit losses Agricultural 96,085 96,082 — — 96,082 Commercial and financial 242,983 241,017 — — 241,017 Real estate: Construction, 1 to 4 family residential 88,388 88,854 — — 88,854 Construction, land development and commercial 162,958 160,469 — — 160,469 Mortgage, farmland 245,241 239,221 — — 239,221 Mortgage, 1 to 4 family first liens 1,051,289 1,028,672 — — 1,028,672 Mortgage, 1 to 4 family junior liens 115,414 113,961 — — 113,961 Mortgage, multi-family 431,237 423,741 — — 423,741 Mortgage, commercial 390,563 382,178 — — 382,178 Loans to individuals 34,515 33,826 — — 33,826 Obligations of state and political subdivisions 48,742 48,373 — — 48,373 Accrued interest receivable 14,520 14,520 — 14,520 — Total financial instrument assets $ 3,914,273 $ 3,863,252 $ 691,514 $ 315,344 $ 2,856,394 Financial instrument liabilities Deposits Noninterest-bearing deposits $ 696,137 $ 696,137 $ — $ 696,137 $ — Interest-bearing deposits 2,819,624 2,819,258 — 2,819,258 — Accrued interest payable 1,056 1,056 — 1,056 — Total financial instrument liabilities $ 3,516,817 $ 3,516,451 $ — $ 3,516,451 $ — Face Amount Financial instrument with off-balance sheet risk: Loan commitments $ 743,826 $ — $ — $ — $ — Letters of credit 7,026 — — — — Total financial instrument liabilities with off-balance-sheet risk $ 750,852 $ — $ — $ — $ — (1) Considered Level 1 under Accounting Standards Codification (“ASC”) Topic 820, Fair Value Measurements and Disclosures (“ASC 820”). (2) Considered Level 2 under ASC 820. (3) Considered Level 3 under ASC 820 and are based on valuation models that use significant assumptions that are not observable in an active market. The carrying value and estimated fair values of the Company's financial instruments as of December 31, 2021 are as follows: December 31, 2021 Carrying Estimated Fair Readily Observable Company (Amounts In Thousands) Financial instrument assets: Cash and cash equivalents $ 781,918 $ 781,918 $ 781,918 $ — $ — Investment securities 555,900 555,900 243,925 311,975 — Loans held for sale 5,716 5,716 — 5,716 — Loans, net of allowance for credit losses Agricultural 104,672 103,745 — — 103,745 Commercial and financial 217,733 216,466 — — 216,466 Real estate: Construction, 1 to 4 family residential 79,668 79,311 — — 79,311 Construction, land development and commercial 125,539 124,466 — — 124,466 Mortgage, farmland 229,311 228,365 — — 228,365 Mortgage, 1 to 4 family first liens 901,523 897,255 — — 897,255 Mortgage, 1 to 4 family junior liens 111,184 110,903 — — 110,903 Mortgage, multi-family 379,077 378,193 — — 378,193 Mortgage, commercial 394,594 391,950 — — 391,950 Loans to individuals 31,916 31,871 — — 31,871 Obligations of state and political subdivisions 49,845 50,155 — — 50,155 Accrued interest receivable 11,437 11,437 — 11,437 — Total financial instrument assets $ 3,980,033 $ 3,967,651 $ 1,025,843 $ 329,128 $ 2,612,680 Financial instrument liabilities: Deposits Noninterest-bearing deposits $ 633,101 $ 633,101 $ — $ 633,101 $ — Interest-bearing deposits 2,900,893 2,909,243 — 2,909,243 — Other borrowings 249 249 — 249 — Federal Home Loan Bank borrowings — — — — — Accrued interest payable 1,165 1,165 — 1,165 — Total financial instrument liabilities $ 3,535,408 $ 3,543,758 $ — $ 3,543,758 $ — Face Amount Financial instrument with off-balance sheet risk: Loan commitments $ 614,324 $ — $ — $ — $ — Letters of credit 7,179 — — — — Total financial instrument liabilities with off-balance-sheet risk $ 621,503 $ — $ — $ — $ — Considered Level 1 under ASC 820. (1) Considered Level 2 under ASC 820. (2) Considered Level 3 under ASC 820 and are based on valuation models that use significant assumptions that are not observable in an active market. Fair value of financial instruments : FASB ASC 820, Fair Value Measurements and Disclosures (“ASC 820”) provides a single definition for fair value, a framework for measuring fair value and expanded disclosures concerning fair value. Fair value is defined under ASC 820 as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The Company determines the fair market value of its financial instruments based on the fair value hierarchy established in ASC 820. There are three levels of inputs that may be used to measure fair value as follows: Level 1 Quoted prices in active markets for identical assets or liabilities. Level 2 Observable inputs other than quoted prices included within Level 1. Observable inputs include the quoted prices for similar assets or liabilities in markets that are not active and inputs other than quoted prices that are observable for the asset or liability. Level 3 Unobservable inputs supported by little or no market activity for financial instruments. Level 3 assets and liabilities include financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation. It is the Company’s policy to maximize the use of observable inputs and minimize the use of unobservable inputs when developing fair value measurements. The Company is required to use observable inputs, to the extent available, in the fair value estimation process unless that data results from forced liquidations or distressed sales. The following is a description of valuation methodologies used for assets and liabilities recorded at fair value. ASSETS Investment securities available for sale : Investment securities available for sale are recorded at fair value on a recurring basis. Fair value measurement is based upon quoted prices, if available. If a quoted price is not available, the fair value is obtained from benchmarking the security against similar securities. U.S. Treasury securities are considered Level 1 with the remaining securities considered Level 2. The pricing for investment securities is obtained from an independent source. There are no Level 3 investment securities owned by the Company. The Company obtains an understanding of the independent source’s valuation methodologies used to determine fair value by level of security. The Company validates assigned fair values on a sample basis using an additional third-party provider pricing service to determine if the fair value measurement is reasonable. Due to the nature of our investment portfolio, we do not expect significant and unusual fluctuations as fair value changes primarily relate to interest rate changes. No unusual fluctuations were identified during the nine months ended September 30, 2022. If a fluctuation requiring investigation was identified, the Company would research the change with the independent source or other available information. Individually analyzed loans under ASC 326 CECL : See Note 1 for further discussion of individually analyzed loans under CECL. A loan is considered to be non-performing when it is probable that all of the principal and interest due may not be collected according to its contractual terms. Generally, when a loan is considered non-performing, the amount of reserve is measured based on the fair value of the underlying collateral. The Company makes such measurements on all material loans deemed non-performing using the fair value of the collateral for collateral dependent loans or based on the present value of the estimated future cash flows of interest and principal discounted at the loans effective interest rate or the fair value of the loan if determinable. The fair value of collateral used by the Company is determined by obtaining an observable market price or by obtaining an appraised value from an independent, licensed or certified appraiser, using observable market data. This data includes information such as selling price of similar properties and capitalization rates of similar properties sold within the market, expected future cash flows or earnings of the subject property based on current market expectations, and other relevant factors. All appraised values are adjusted for market-related trends based on the Company's experience in sales and other appraisals of similar property types as well as estimated selling costs. These loans are considered Level 3 as the instruments used to determine fair market value require significant management judgment and estimation. Foreclosed assets : The Company does not record foreclosed assets at fair value on a recurring basis. Foreclosed assets consist mainly of other real estate owned but may include other types of assets repossessed by the Company. Foreclosed assets are adjusted to the lower of carrying value or fair value less the cost of disposal. Fair value is generally based upon independent market prices or appraised values of the collateral, and may include a marketability discount as deemed necessary by management based on its experience with similar types of real estate. The value of foreclosed assets is evaluated periodically as a nonrecurring fair value adjustment. Foreclosed assets are classified as Level 3. Off-balance sheet instruments : Fair values for outstanding letters of credit are based on fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements and the counterparties' credit standing. The fair value of the outstanding letters of credit is not significant. Unfunded loan commitments are not valued since the loans are generally priced at market at the time of funding (Level 2). Assets and Liabilities Recorded at Fair Value on a Recurring Basis The table below represents the balances of assets and liabilities measured at fair value on a recurring basis: September 30, 2022 Readily Observable Company Total at Fair Securities available for sale (Amounts In Thousands) U.S. Treasury $ 449,393 $ — $ — $ 449,393 State and political subdivisions — 216,489 — 216,489 Mortgage-backed securities and collateralized mortgage obligations — 50,094 — 50,094 Other securities (FHLB, FHLMC and FNMA) — 31,577 — 31,577 Total $ 449,393 $ 298,160 $ — $ 747,553 December 31, 2021 Readily Observable Company Total at Fair Securities available for sale (Amounts In Thousands) U.S. Treasury $ 243,925 $ — $ — $ 243,925 State and political subdivisions — 263,516 — 263,516 Mortgage-backed securities and collateralized mortgage obligations — 9,446 — 9,446 Other securities (FHLB, FHLMC and FNMA) — 34,467 — 34,467 Total $ 243,925 $ 307,429 $ — $ 551,354 (1) Considered Level 1 under ASC 820. (2) Considered Level 2 under ASC 820. (3) Considered Level 3 under ASC 820 and are based on valuation models that use significant assumptions that are not observable in an active market. There were no transfers between Levels 1, 2 or 3 during the nine months ended September 30, 2022 and the year ended December 31, 2021. Assets and Liabilities Recorded at Fair Value on a Nonrecurring Basis The Company is required to measure certain assets at fair value on a nonrecurring basis in accordance with GAAP. These adjustments to fair value usually result from application of lower-of-cost-or-market accounting or write-downs of individual assets. The valuation methodologies used to measure these fair value adjustments are described above. The following tables present the Company’s assets that are measured at fair value on a nonrecurring basis. September 30, 2022 Three Months Ended September 30, 2022 Nine Months Ended September 30, 2022 Readily Observable Company Total at Total Losses Total Losses (Amounts in Thousands) Loans (4) Agricultural $ — $ — $ 55 $ 55 $ — $ — Commercial and financial — — 1,280 1,280 — 225 Real Estate: — Construction, 1 to 4 family residential — — 50 50 — — Construction, land development and commercial — — 287 287 — — Mortgage, farmland — — 1,687 1,687 — 104 Mortgage, 1 to 4 family first liens — — 5,158 5,158 153 243 Mortgage, 1 to 4 family junior liens — — 194 194 — 5 Mortgage, multi-family — — 625 625 — — Mortgage, commercial — — 3,408 3,408 — — Loans to individuals — — — — — — Foreclosed assets (5) — — — — — — Total $ — $ — $ 12,744 $ 12,744 $ 153 $ 577 (1) Considered Level 1 under ASC 820. (2) Considered Level 2 under ASC 820. (3) Considered Level 3 under ASC 820 and are based on valuation models that use significant assumptions that are not observable in an active market. (4) Represents carrying value and related write-downs of loans for which adjustments are based on the value of the collateral. The carrying value of loans fully-charged off is zero. (5) Represents the fair value and related losses of foreclosed real estate and other collateral owned that were measured at fair value subsequent to their initial classification as foreclosed assets. Assets and Liabilities Recorded at Fair Value on a Nonrecurring Basis (continued) December 31, 2021 Year Ended December 31, 2021 Readily Observable Company Total at Fair Total Losses (Amounts in Thousands) Loans (4) Agricultural $ — $ — $ 399 $ 399 $ — Commercial and financial — — 1,527 1,527 — Real Estate: Construction, 1 to 4 family residential — — 383 383 — Construction, land development and commercial — — 96 96 — Mortgage, farmland — — 1,114 1,114 — Mortgage, 1 to 4 family first liens — — 5,902 5,902 212 Mortgage, 1 to 4 family junior liens — — 202 202 9 Mortgage, multi-family — — 1,460 1,460 — Mortgage, commercial — — 4,176 4,176 255 Loans to individuals — — — — — Foreclosed assets (5) — — — — — Total $ — $ — $ 15,259 $ 15,259 $ 476 (1) Considered Level 1 under ASC 820. (2) Considered Level 2 under ASC 820. (3) Considered Level 3 under ASC 820 and are based on valuation models that use significant assumptions that are not observable in an active market. (4) Represents carrying value and related write-downs of loans for which adjustments are based on the value of the collateral. The carrying value of loans fully-charged off is zero. (5) Represents the fair value and related losses of foreclosed real estate and other collateral owned that were measured at fair value subsequent to their initial classification as foreclosed assets. |
Stock Repurchase Program
Stock Repurchase Program | 9 Months Ended |
Sep. 30, 2022 | |
Equity [Abstract] | |
Stock Repurchase Program | Stock Repurchase ProgramOn July 26, 2005, the Company’s Board of Directors authorized a program to repurchase up to a total of 1,500,000 shares of the Company’s common stock (the “2005 Stock Repurchase Program”). On August 9, 2022, the Company’s Board of Directors authorized the expansion of the 2005 Stock Repurchase Program to allow an additional 750,000 shares for repurchase and the continuation through December 31, 2027. The Company expects the purchases pursuant to the 2005 Stock Repurchase Program to be made from time to time in private transactions at a price equal to the most recent quarterly independent appraisal of the shares of the Company’s common stock and with the Board reviewing the overall results of the 2005 Stock Repurchase Program on a quarterly basis. All purchases made pursuant to the 2005 Stock Repurchase Program since its inception have been made on that basis. The amount and timing of stock repurchases will be based on various factors, such as the Board’s assessment of the Company’s capital structure and liquidity, the amount of interest shown by shareholders in selling shares of stock to the Company at their appraised value, and applicable regulatory, legal and accounting factors. The Company has purchased 1,473,471 shares of its common stock in privately negotiated transactions from August 1, 2005 through September 30, 2022. Of these 1,473,471 shares, 7,541 shares were purchased during the quarter ended September 30, 2022, at an average price per share of $71.47. |
Commitments and Contingencies
Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Commitments and Contingencies Concentrations of credit risk : The Bank’s loans, commitments to extend credit, unused lines of credit and outstanding letters of credit have been granted to customers within the Bank's market area. Investments in securities issued by state and political subdivisions within the state of Iowa totaled approximately $76.68 million. The concentrations of credit by type of loan are set forth in Note 5 to the Consolidated Financial Statements. Outstanding letters of credit were granted primarily to commercial borrowers. Although the Bank has a diversified loan portfolio, a substantial portion of its debtors' ability to honor their contracts is dependent upon the economic conditions in Johnson, Linn and Washington Counties, Iowa. Contingencies : In the normal course of business, the Company and its subsidiaries are subject to pending and threatened legal actions, some of which seek substantial relief or damages. While the ultimate outcome of such legal proceedings cannot be predicted with certainty, after reviewing pending and threatened litigation with counsel, management believes at this time that the outcome of such litigation will not have a material adverse effect on the Company’s business, financial conditions, or results of operations. Financial instruments with off-balance sheet risk : The Bank is a party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit, credit card participations and standby letters of credit. These instruments involve, to varying degrees, elements of credit risk in excess of the amount recognized in the consolidated balance sheets. The Bank’s exposure to credit loss in the event of nonperformance by the other party to the financial instrument for commitments to extend credit, credit card participations and standby letters of credit is represented by the contractual amount of those instruments. The Bank uses the same credit policies in making commitments and conditional obligations as it does for on-balance sheet instruments. A summary of the Bank’s commitments at September 30, 2022 and December 31, 2021 is as follows: September 30, 2022 December 31, 2021 (Amounts In Thousands) Firm loan commitments and unused portion of lines of credit: Home equity loans $ 86,255 $ 78,961 Credit cards 65,321 65,913 Commercial, real estate and home construction 240,536 170,539 Commercial lines and real estate purchase loans 351,714 298,911 Outstanding letters of credit 7,026 7,179 |
Income Taxes
Income Taxes | 9 Months Ended |
Sep. 30, 2022 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Income TaxesFederal income tax expense for the nine months ended September 30, 2022 and 2021 was computed using the consolidated effective federal tax rate. The Company also recognized income tax expense pertaining to state franchise taxes payable individually by the subsidiary bank. The Company files a consolidated tax return for federal purposes and separate tax returns for State of Iowa purposes. The tax years ended December 31, 2021, 2020, and 2019 remain subject to examination by the Internal Revenue Service. For state tax purposes, the tax years ended December 31, 2021, 2020, and 2019 remain open for examination. There were no material unrecognized tax benefits at September 30, 2022 and December 31, 2021 and therefore no interest or penalties on unrecognized tax benefits has been recorded. As of September 30, 2022, the Company does not anticipate any significant increase in unrecognized tax benefits during the twelve-month period ending September 30, 2023. In the quarter ended September 30, 2022, the Company's income tax expense included a one-time increase in state income tax expense related to the 2022 enactment of changes in the Iowa bank franchise tax rates. This legislation reduces the Iowa bank franchise tax rate applied to apportioned income for 2023 and future years and required the Company to reduce net deferred tax assets and caused the one-time increase in 2022 tax expense. Income taxes as a percentage of income before taxes were 22.70% for the nine months ended September 30, 2022 and 22.58% for the same period in 2021. Excluding the one-time state tax expense, the income taxes as a percentage of income before taxes for the nine months ended September 30, 2022 would have been 22.10%. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2022 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation: The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial reporting and with instructions for Form 10-Q and Regulation S-X. These financial statements include all adjustments (consisting of normal recurring accruals) which in the opinion of management are considered necessary for the fair presentation of the financial position and results of operations for the periods shown. Certain prior year amounts have been reclassified to conform to the current year presentation. The Company considers that it operates as one business segment, a commercial bank. |
Revenue Recognition | Revenue Recognition: Accounting Standards Codification ("ASC") 606, Revenue from Contracts with Customers ("ASC 606"), establishes principles for reporting information about the nature, amount, timing and uncertainty of revenue and cash flows arising from the Company’s contracts to provide goods or services to customers. The core principle requires an entity to recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration that it expects to be entitled to receive in exchange for those goods or services recognized as performance obligations are satisfied. The majority of the Company’s revenue-generating transactions are not subject to ASC 606, including revenue generated from financial instruments, such as loans, letters of credit and investment securities. Interest income on loans and investment securities is recognized on the accrual method in accordance with written contracts. Descriptions of the Company’s revenue-generating activities that are within the scope of ASC 606 are the following: Service charges and fees on deposit accounts represent general service fees for monthly account maintenance and activity- or transaction-based fees and consist of transaction-based revenue which includes interchange income, time-based revenue (service period), item-based revenue or some other individual attribute-based revenue. Revenue is recognized when the Company’s performance obligation is completed which is generally monthly for account maintenance services or when a transaction has been completed (such as a wire transfer). Payment for such performance obligations are generally received at the time the performance obligations are satisfied. Trust income represents monthly fees due from wealth management customers as consideration for managing the customers' assets. Wealth management and trust services include custody of assets, investment management, fees for trust services and similar fiduciary activities. Revenue is recognized when our performance obligation is completed each month, which is generally the time that payment is received. A contract asset balance occurs when an entity performs a service for a customer before the customer pays consideration (resulting in a contract receivable) or before payment is due (resulting in a contract asset). A contract liability balance is an entity's obligation to transfer a service to a customer for which the entity has already received payment (or payment is due) from the customer. As of September 30, 2022, the Company did not have any significant contract balances. |
Effect of New Financial Accounting Standards | Effect of New Financial Accounting Standards: In May 2021, the FASB issued ASU 2021-04, Earnings Per Share (Topic 260), Debt-Modifications and Extinguishments (Subtopic 470-50), Compensation-Stock Compensation (Topic 718), and Derivatives and Hedging-Contracts in Entity's Own Equity (Subtopic 815-40), Issuer's Accounting for Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options . The amendments in this ASU affect entities that issue freestanding written call options that are classified in equity. Specifically, the amendments affect those entities when a freestanding equity-classified written call option is modified or exchanged and remains equity classified after the modification or exchange. An entity should recognize the effect of a modification or an exchange of a freestanding equity-classified written call option to compensate for goods or services in accordance with the guidance in Topic 718, Compensation-Stock Compensation. The amendments in this ASU are effective for all entities for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. An entity should apply the amendments prospectively to modifications or exchanges occurring on or after the effective date of the amendments. The adoption of the ASU by the Company on January 1, 2022 did not have a material impact on the financial statements. In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 815) Accounting for Contract Assets and Contract Liabilities from Contracts with Customers . The amendments in this Update require that an entity (acquirer) recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with Topic 606. At the acquisition date, an acquirer should account for the related revenue contracts in accordance with Topic 606 as if it had originated the contracts. To achieve this, an acquirer may assess how the acquiree applied Topic 606 to determine what to record for the acquired revenue contracts. The amendments in this ASU are effective for all entities for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. An entity should apply the amendments prospectively to business combinations occurring on or after the effective date of the amendments. The Company is in the process of evaluating the impact of this ASU on the financial statements. In March 2022, the FASB issued ASU 2022-02, Financial Instruments - Credit Losses (Topic 326) Troubled Debt Restructurings and Vintage Disclosures . The FASB issued these amendments to eliminate accounting guidance for TDRs by creditors in Subtopic 310-40, Receivables-Troubled Debt Restructurings by Creditors , while enhancing disclosure requirements for certain loan refinancings and restructurings by creditors when a borrower is experiencing financial difficulty, and to require that an entity disclose current-period gross writeoffs by year of origination for financing receivables and net investments in leases within the scope of Subtopic 326-20, Financial Instruments-Credit Losses-Measured at Amortized Cost . The amendments in this Update are effective for fiscal years beginning after December 15, 2022, including interim periods within |
Earnings Per Share | Earnings Per ShareBasic earnings per share is computed using the weighted average number of actual common shares outstanding during the period. Diluted earnings per share reflects the potential dilution that would occur from the exercise of common stock options outstanding. ESOP shares are considered outstanding for this calculation unless unearned. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies Summary of Significant Accounting Policies (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Accounting Policies [Abstract] | |
Schedule of Impact of ASC 326 | The following table illustrates the impact of ASC 326 (amounts in thousands). January 1, 2021 As Reported Under ASC 326 Pre-ASC 326 Adoption Impact of ASC 326 Adoption Assets: Loans Allowance for credit losses on loans $ 39,816 $ 37,070 $ 2,746 Liabilities: Allowance for credit losses on off-balance sheet credit exposures $ 3,584 $ — $ 3,584 |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Earnings Per Share [Abstract] | |
Schedule of computation of basic and diluted earnings per share | The computation of basic and diluted earnings per share for the periods presented is as follows: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Common shares outstanding at the beginning of the period 9,267,410 9,306,252 9,299,640 9,330,995 Weighted average number of net shares redeemed (3,569) (7,539) (24,256) (21,234) Weighted average shares outstanding (basic) 9,263,841 9,298,713 9,275,384 9,309,761 Weighted average of potential dilutive shares attributable to stock options granted, computed under the treasury stock method 676 3,731 1,935 3,605 Weighted average number of shares (diluted) 9,264,517 9,302,444 9,277,319 9,313,366 Net income (In thousands) $ 13,740 $ 13,125 $ 35,718 $ 41,932 Earnings per share: Basic $ 1.48 $ 1.41 $ 3.85 $ 4.50 Diluted $ 1.48 $ 1.41 $ 3.85 $ 4.50 |
Accumulated Other Comprehensi_2
Accumulated Other Comprehensive Income (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Equity [Abstract] | |
Components of accumulated other comprehensive (loss) income (AOCI) | The following table summarizes the balances of each component of accumulated other comprehensive (loss) income (AOCI), included in stockholders’ equity, at September 30, 2022 and December 31, 2021: September 30, 2022 December 31, 2021 (amounts in thousands) Net unrealized (loss) gain on available-for-sale securities $ (67,264) $ 1,968 Tax effect 16,305 (491) Net-of-tax amount $ (50,959) $ 1,477 |
Securities (Tables)
Securities (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Investments, Debt and Equity Securities [Abstract] | |
Carrying values of investment securities | The carrying values of investment securities at September 30, 2022 and December 31, 2021 are summarized in the following table (dollars in thousands): September 30, 2022 December 31, 2021 Amount Percent Amount Percent Securities available for sale U.S. Treasury $ 449,393 60.12 % $ 243,925 44.24 % Other securities (FHLB, FHLMC and FNMA) 31,577 4.22 34,467 6.25 State and political subdivisions 216,489 28.96 263,516 47.80 Mortgage-backed securities and collateralized mortgage obligations 50,094 6.70 9,446 1.71 Total securities available for sale $ 747,553 100.00 % $ 551,354 100.00 % |
Carrying amount of available-for-sale securities and approximate fair values | The carrying amount of available-for-sale securities, fair values and allowance for credit losses were as follows as of September 30, 2022 and December 31, 2021 (in thousands): Amortized Cost Gross Gross Allowance for Credit Losses Estimated Fair September 30, 2022 U.S. Treasury $ 477,725 $ — $ (28,332) $ — $ 449,393 Other securities (FHLB, FHLMC and FNMA) 35,279 — (3,702) — 31,577 State and political subdivisions 243,551 32 (27,094) — 216,489 Mortgage-backed securities and collateralized mortgage obligations 58,262 — (8,168) — $ 50,094 Total $ 814,817 $ 32 $ (67,296) $ — $ 747,553 December 31, 2021: U.S. Treasury $ 244,192 $ 2,011 $ (2,278) $ — $ 243,925 Other securities (FHLB, FHLMC and FNMA) 35,353 — (886) — 34,467 State and political subdivisions 260,266 4,420 (1,170) — 263,516 Mortgage-backed securities and collateralized mortgage obligations 9,575 — (129) — 9,446 Total $ 549,386 $ 6,431 $ (4,463) $ — $ 551,354 |
Available-for-sale securities classified as per contractual maturities | The amortized cost and estimated fair value of available-for-sale securities classified according to their contractual maturities at September 30, 2022, were as follows (in thousands) below. Expected maturities of MBS may differ from contractual maturities because the mortgages underlying the securities may be called or prepaid without any penalties. Therefore, these securities are not included in the maturity categories in the following summary. Amortized Fair Value Due in one year or less $ 70,189 $ 69,380 Due after one year through five years 534,977 500,740 Due after five years through ten years 106,929 93,201 Due over ten years 44,460 34,138 $ 756,555 $ 697,459 Mortgage-backed securities and collateralized mortgage obligations 58,262 50,094 $ 814,817 $ 747,553 |
Available-for-sale securities, continuous unrealized loss position, fair value | The following table shows the fair value, gross unrealized losses and the percentage of fair value represented by gross unrealized losses of applicable investment securities owned by the Company, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at September 30, 2022 and December 31, 2021 (in thousands): Less than 12 months 12 months or more Total September 30, 2022 # Fair Value Unrealized % # Fair Value Unrealized % # Fair Value Unrealized % U.S. Treasury 108 $ 348,659 $ (15,385) 4.41 % 45 $ 100,734 $ (12,947) 12.85 % 153 $ 449,393 $ (28,332) 6.30 % Other securities (FHLB, FHLMC and FNMA) — — — — 14 31,577 (3,702) 11.72 14 31,577 (3,702) 11.72 State and political subdivisions 627 157,266 (13,213) 8.40 224 55,661 (13,881) 24.94 851 212,927 (27,094) 12.72 Mortgage-backed securities and collateralized mortgage obligations 14 42,947 (6,369) 14.83 4 7,147 (1,799) 25.17 18 50,094 (8,168) 16.31 Total temporarily impaired securities 749 $ 548,872 $ (34,967) 6.37 % 287 $ 195,119 $ (32,329) 16.57 % 1,036 $ 743,991 $ (67,296) 9.05 % Less than 12 months 12 months or more Total December 31, 2021 # Fair Value Unrealized % # Fair Value Unrealized % # Fair Value Unrealized % U.S. Treasury 55 $ 136,867 $ (2,203) 1.61 % 1 $ 2,416 $ (75) 3.10 % 56 $ 139,283 $ (2,278) 1.64 % Other securities (FHLB, FHLMC and FNMA) 5 12,484 (303) 2.43 9 21,984 (583) 2.65 14 34,468 (886) 2.57 State and political subdivisions 231 70,542 (1,055) 1.50 14 9,248 (115) 1.24 245 79,790 (1,170) 1.47 Mortgage-backed securities and collateralized mortgage obligations 4 9,446 (129) 1.37 — — — — 4 9,446 (129) 1.37 Total temporarily impaired securities 295 $ 229,339 $ (3,690) 1.61 % 24 $ 33,648 $ (773) 2.30 % 319 $ 262,987 $ (4,463) 1.70 % |
Loans (Tables)
Loans (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Receivables [Abstract] | |
Schedule of classes of loans | Classes of loans are as follows: September 30, 2022 December 31, (Amounts In Thousands) Agricultural $ 98,555 $ 106,933 Commercial and financial 248,179 222,002 Real estate: Construction, 1 to 4 family residential 89,379 80,486 Construction, land development and commercial 165,431 127,021 Mortgage, farmland 248,103 232,744 Mortgage, 1 to 4 family first liens 1,060,888 909,564 Mortgage, 1 to 4 family junior liens 118,326 114,342 Mortgage, multi-family 435,666 382,792 Mortgage, commercial 397,048 401,377 Loans to individuals 35,355 32,687 Obligations of state and political subdivisions 49,191 50,285 $ 2,946,121 $ 2,660,233 Net unamortized fees and costs 274 299 $ 2,946,395 $ 2,660,532 Less allowance for credit losses 38,980 35,470 $ 2,907,415 $ 2,625,062 |
Schedule of changes in allowance for loan losses | Changes in the allowance for credit losses, the allowance for credit losses applicable to individually evaluated loans and the related loan balance of individually evaluated loans for the three and nine months ended September 30, 2022 were as follows: Three Months Ended September 30, 2022 Agricultural Commercial and Real Estate: Real Estate: Real Estate: Real Estate: Other Total (Amounts In Thousands) Allowance for credit losses: Beginning balance $ 2,265 $ 5,194 $ 2,772 $ 3,330 $ 12,233 $ 11,233 $ 1,233 $ 38,260 Charge-offs — (18) — (1) (222) — (163) (404) Recoveries 10 233 2 6 143 26 50 470 Credit loss expense (benefit) 195 (213) 690 (473) 631 (345) 169 654 Ending balance $ 2,470 $ 5,196 $ 3,464 $ 2,862 $ 12,785 $ 10,914 $ 1,289 $ 38,980 Nine Months Ended September 30, 2022 Agricultural Commercial and Real Estate: Real Estate: Real Estate: Real Estate: Other Total (Amounts In Thousands) Allowance for credit losses: Beginning balance $ 2,261 $ 4,269 $ 2,300 $ 3,433 $ 11,498 $ 10,498 $ 1,211 $ 35,470 Charge-offs (1) (309) — (21) (471) (1) (389) (1,192) Recoveries 78 445 7 296 686 76 114 1,702 Credit loss expense (benefit) 132 791 1,157 (846) 1,072 341 353 3,000 Ending balance $ 2,470 $ 5,196 $ 3,464 $ 2,862 $ 12,785 $ 10,914 $ 1,289 $ 38,980 Ending balance, individually evaluated for credit losses $ 295 $ 4 $ 55 $ — $ 42 $ 308 $ — $ 704 Ending balance, collectively evaluated for credit losses $ 2,175 $ 5,192 $ 3,409 $ 2,862 $ 12,743 $ 10,606 $ 1,289 $ 38,276 Loans: Ending balance $ 98,555 $ 248,179 $ 254,810 $ 248,103 $ 1,179,214 $ 832,714 $ 84,546 $ 2,946,121 Ending balance, individually evaluated for credit losses $ 552 $ 1,354 $ 392 $ 1,687 $ 5,637 $ 4,395 $ — $ 14,017 Ending balance, collectively evaluated for credit losses $ 98,003 $ 246,825 $ 254,418 $ 246,416 $ 1,173,577 $ 828,319 $ 84,546 $ 2,932,104 Changes in the allowance for credit losses for the three and nine months ended September 30, 2021 were as follows: Three Months Ended September 30, 2021 Agricultural Commercial and Real Estate: Real Estate: Real Estate: Real Estate: Other Total (Amounts In Thousands) Allowance for credit losses: Beginning balance $ 2,055 $ 4,802 $ 2,483 $ 4,904 $ 10,879 $ 9,707 $ 1,110 $ 35,940 Charge-offs — (14) — — (181) (255) (138) (588) Recoveries 29 431 2 — 140 23 21 646 Credit loss expense (benefit) 34 (871) (188) (241) 26 743 89 (408) Ending balance $ 2,118 $ 4,348 $ 2,297 $ 4,663 $ 10,864 $ 10,218 $ 1,082 $ 35,590 Nine Months Ended September 30, 2021 Agricultural Commercial and Real Estate: Real Estate: Real Estate: Real Estate: Other Total (Amounts In Thousands) Allowance for credit losses: Beginning balance, prior to adoption of ASC 326 $ 2,508 $ 4,885 $ 2,319 $ 4,173 $ 12,368 $ 9,415 $ 1,402 $ 37,070 Impact of adopting ASC 326 (328) 298 327 763 522 1,396 (232) 2,746 Charge-offs — (90) (3) (1) (263) (265) (234) (856) Recoveries 117 966 93 25 648 240 98 2,187 Credit loss expense (benefit) (179) (1,711) (439) (297) (2,411) (568) 48 (5,557) Ending balance $ 2,118 $ 4,348 $ 2,297 $ 4,663 $ 10,864 $ 10,218 $ 1,082 $ 35,590 Ending balance, individually evaluated for credit losses $ 3 $ 4 $ 128 $ 4 $ 59 $ 5 $ — $ 203 Ending balance, collectively evaluated for credit losses $ 2,115 $ 4,344 $ 2,169 $ 4,659 $ 10,805 $ 10,213 $ 1,082 $ 35,387 Loans: Ending balance $ 94,210 $ 228,181 $ 191,790 $ 241,650 $ 1,013,641 $ 799,855 $ 84,534 $ 2,653,861 Ending balance, individually evaluated for credit losses $ 1,426 $ 1,394 $ 1,028 $ 1,583 $ 5,566 $ 5,758 $ — $ 16,755 Ending balance, collectively evaluated for credit losses $ 92,784 $ 226,787 $ 190,762 $ 240,067 $ 1,008,075 $ 794,097 $ 84,534 $ 2,637,106 The allowance for credit losses, the allowance for credit losses applicable to individually and collectively evaluated loans and the related loan balances as of December 31, 2021: Agricultural Commercial and Financial Real Estate: Construction Real Estate: Real Estate: Real Estate: Other Total (Amounts In Thousands) 2021 Allowance for credit losses: Ending balance $ 2,261 $ 4,269 $ 2,300 $ 3,433 $ 11,498 $ 10,498 $ 1,211 $ 35,470 Ending balance, individually evaluated for credit losses $ 1 $ 189 $ 124 $ — $ 49 $ 1 $ 20 $ 384 Ending balance, collectively evaluated for credit losses $ 2,260 $ 4,080 $ 2,176 $ 3,433 $ 11,449 $ 10,497 $ 1,191 $ 35,086 Loan balances: Ending balance $ 106,933 $ 222,002 $ 207,507 $ 232,744 $ 1,023,906 $ 784,169 $ 82,972 $ 2,660,233 Ending balance, individually evaluated for credit losses $ 788 $ 2,062 $ 603 $ 1,277 $ 6,187 $ 5,696 $ 20 $ 16,633 Ending balance, collectively evaluated for credit losses $ 106,145 $ 219,940 $ 206,904 $ 231,467 $ 1,017,719 $ 778,473 $ 82,952 $ 2,643,600 The following table presents the amortized cost basis of collateral dependent loans, by the primary collateral type, which are individually evaluated to determine expected credit losses, and the related ACL allocated to these loans: Primary Type of Collateral Real Estate Accounts Receivable Equipment Other Total ACL Allocation (Amounts In Thousands) September 30, 2022 Agricultural $ 552 $ — $ — $ — $ 552 $ 295 Commercial and financial 1,271 — 83 — 1,354 4 Real estate: Construction, 1 to 4 family residential 105 — — — 105 55 Construction, land development and commercial 287 — — — 287 — Mortgage, farmland 1,507 — 180 — 1,687 — Mortgage, 1 to 4 family first liens 5,433 — — — 5,433 40 Mortgage, 1 to 4 family junior liens 204 — — — 204 2 Mortgage, multi-family 625 — — — 625 — Mortgage, commercial 3,770 — — — 3,770 308 Loans to individuals — — — — — — Obligations of state and political subdivisions — — — — — — $ 13,754 $ — $ 263 $ — $ 14,017 $ 704 Primary Type of Collateral Real Estate Accounts Receivable Equipment Other Total ACL Allocation (Amounts In Thousands) December 31, 2021 Agricultural $ 734 $ — $ 54 $ — $ 788 $ 1 Commercial and financial 1,951 — 111 — 2,062 189 Real estate: Construction, 1 to 4 family residential 111 — — — 111 111 Construction, land development and commercial 492 — — — 492 13 Mortgage, farmland 1,277 — — — 1,277 — Mortgage, 1 to 4 family first liens 5,967 — — — 5,967 31 Mortgage, 1 to 4 family junior liens 220 — — — 220 18 Mortgage, multi-family 1,460 — — — 1,460 — Mortgage, commercial 4,236 — — — 4,236 1 Loans to individuals 20 — — — 20 20 Obligations of state and political subdivisions — — — — — — $ 16,468 $ — $ 165 $ — $ 16,633 $ 384 |
Schedule of allowance for credit losses for off-balance sheet credit exposure | Changes in the allowance for credit losses for off-balance sheet credit exposures for the three and nine months ended September 30, 2022 and 2021 were as follows: Three Months Ended September 30, 2022 Agricultural Commercial and Real Estate: Real Estate: Real Estate: Real Estate: Other Total (Amounts In Thousands) Allowance for credit losses for off-balance sheet credit exposures: Beginning balance $ 659 $ 1,776 $ 1,182 $ 115 $ 1,025 $ 300 $ 53 $ 5,110 Credit loss expense (benefit) (140) (714) 424 50 (399) (192) (19) (990) (Charge-offs), net recoveries — — — — — — — — Ending balance $ 519 $ 1,062 $ 1,606 $ 165 $ 626 $ 108 $ 34 $ 4,120 Three Months Ended September 30, 2021 Agricultural Commercial and Real Estate: Real Estate: Real Estate: Real Estate: Other Total (Amounts In Thousands) Allowance for credit losses for off-balance sheet credit exposures: Beginning balance $ 494 $ 1,529 $ 864 $ 107 $ 791 $ 275 $ 30 $ 4,090 Credit loss expense (benefit) 15 117 132 61 13 156 (4) 490 (Charge-offs), net recoveries — — — — — — — — Ending balance $ 509 $ 1,646 $ 996 $ 168 $ 804 $ 431 $ 26 $ 4,580 Nine Months Ended September 30, 2022 Agricultural Commercial and Real Estate: Real Estate: Real Estate: Real Estate: Other Total (Amounts In Thousands) Allowance for credit losses for off-balance sheet credit exposures: Beginning balance $ 383 $ 1,118 $ 849 $ 113 $ 794 $ 559 $ 34 $ 3,850 Credit loss expense (benefit) 136 (56) 757 52 (168) (451) — 270 (Charge-offs), net recoveries — — — — — — — — Ending balance $ 519 $ 1,062 $ 1,606 $ 165 $ 626 $ 108 $ 34 $ 4,120 Nine Months Ended September 30, 2021 Agricultural Commercial and Real Estate: Real Estate: Real Estate: Real Estate: Other Total (Amounts In Thousands) Allowance for credit losses for off-balance sheet credit exposures: Beginning balance, prior to adoption of ASC 326 $ — $ — $ — $ — $ — $ — $ — $ — Impact of adopting ASC 326 385 1,585 736 180 471 212 15 3,584 Credit loss expense (benefit) 124 61 260 (12) 333 219 11 996 (Charge-offs), net recoveries — — — — — — — — Ending balance $ 509 $ 1,646 $ 996 $ 168 $ 804 $ 431 $ 26 $ 4,580 The allowance for credit losses for off-balance sheet credit exposures as of December 31, 2021 were as follows: Year Ended December 31, 2021 Agricultural Commercial and Real Estate: Real Estate: Real Estate: Real Estate: Other Total (Amounts In Thousands) Ending balance $ 383 $ 1,118 $ 849 $ 113 $ 794 $ 559 $ 34 $ 3,850 |
Schedule of credit quality indicators by type of loans | The following table presents the credit quality indicators by type of loans in each category as of December 31, 2021 (amounts in thousands): Agricultural December 31, 2021 2021 2020 2019 2018 2017 Prior Revolving Loans Amortized Cost Basis Total Grade: Excellent $ 762 $ 213 $ 30 $ 10 $ — $ — $ 2,312 $ 3,327 Good 1,799 1,767 603 46 52 26 7,593 11,886 Satisfactory 10,335 6,404 1,476 1,770 403 66 26,285 46,739 Monitor 8,125 5,017 998 765 164 253 23,995 39,317 Special Mention 1,662 11 85 — 7 — 2,807 4,572 Substandard 592 69 203 — — — 228 1,092 Total $ 23,275 $ 13,481 $ 3,395 $ 2,591 $ 626 $ 345 $ 63,220 $ 106,933 Commercial and Financial December 31, 2021 2021 2020 2019 2018 2017 Prior Revolving Loans Amortized Cost Basis Total Grade: Excellent $ 965 $ 924 $ 4 $ 235 $ 31 $ — $ 3,391 $ 5,550 Good 13,722 5,570 1,105 1,086 276 1,494 20,709 43,962 Satisfactory 44,964 20,847 7,684 3,582 2,106 331 41,832 121,346 Monitor 18,337 8,019 3,591 1,123 297 416 13,368 45,151 Special Mention 603 525 353 70 102 4 174 1,831 Substandard 1,092 670 266 54 92 — 1,988 4,162 Total $ 79,683 $ 36,555 $ 13,003 $ 6,150 $ 2,904 $ 2,245 $ 81,462 $ 222,002 Real Estate: Construction, 1 to 4 Family Residential December 31, 2021 2021 2020 2019 2018 2017 Prior Revolving Loans Amortized Cost Basis Total Grade: Excellent $ — $ — $ — $ — $ — $ — $ — $ — Good 212 — — — — — 18,755 18,967 Satisfactory 7,457 94 — — — — 42,988 50,539 Monitor 1,307 — — — — — 9,187 10,494 Special Mention — — — — — — 374 374 Substandard 111 — — — — — 1 112 Total $ 9,087 $ 94 $ — $ — $ — $ — $ 71,305 $ 80,486 Real Estate: Construction, Land Development and Commercial December 31, 2021 2021 2020 2019 2018 2017 Prior Revolving Loans Amortized Cost Basis Total Grade: Excellent $ 5,079 $ — $ — $ — $ 143 $ 4 $ — $ 5,226 Good 3,294 1,200 — — 153 242 12,678 17,567 Satisfactory 22,907 4,354 2,356 263 1,081 21 40,048 71,030 Monitor 5,694 547 7 38 74 — 18,832 25,192 Special Mention — — — — — — — — Substandard 7,515 298 193 — — — — 8,006 Total $ 44,489 $ 6,399 $ 2,556 $ 301 $ 1,451 $ 267 $ 71,558 $ 127,021 Real Estate: Mortgage, Farmland December 31, 2021 2021 2020 2019 2018 2017 Prior Revolving Loans Amortized Cost Basis Total Grade: Excellent $ — $ 3,568 $ 124 $ 60 $ 80 $ 41 $ 134 $ 4,007 Good 17,827 14,308 2,144 2,460 5,932 3,929 3,844 50,444 Satisfactory 51,639 35,616 4,689 8,358 6,745 8,339 8,242 123,628 Monitor 8,532 16,925 5,518 3,901 2,154 4,866 5,695 47,591 Special Mention 4,031 288 — — 298 190 — 4,807 Substandard 1,283 447 291 47 — 199 — 2,267 Total $ 83,312 $ 71,152 $ 12,766 $ 14,826 $ 15,209 $ 17,564 $ 17,915 $ 232,744 Real Estate: Mortgage, 1 to 4 Family First Liens December 31, 2021 2021 2020 2019 2018 2017 Prior Revolving Loans Amortized Cost Basis Total Grade: Excellent $ 462 $ 914 $ 427 $ 19 $ 149 $ 404 $ 1 $ 2,376 Good 9,598 12,300 3,124 3,443 3,091 10,943 2,496 44,995 Satisfactory 233,412 189,247 69,037 65,201 60,906 118,608 8,443 744,854 Monitor 24,908 33,863 5,038 6,527 7,273 12,203 4,066 93,878 Special Mention 1,682 3,422 887 962 1,051 3,168 — 11,172 Substandard 1,571 1,261 1,129 1,609 576 6,142 1 12,289 Total $ 271,633 $ 241,007 $ 79,642 $ 77,761 $ 73,046 $ 151,468 $ 15,007 $ 909,564 Real Estate: Mortgage, 1 to 4 Family Junior Liens December 31, 2021 2021 2020 2019 2018 2017 Prior Revolving Loans Amortized Cost Basis Total Grade: Excellent $ — $ 13 $ — $ — $ — $ — $ 6 $ 19 Good 193 611 96 — 108 482 1,374 2,864 Satisfactory 13,684 10,116 5,854 7,309 5,230 6,053 55,496 103,742 Monitor 326 1,233 70 365 140 281 2,801 5,216 Special Mention 103 489 35 56 42 110 142 977 Substandard 77 209 79 441 74 99 545 1,524 Total $ 14,383 $ 12,671 $ 6,134 $ 8,171 $ 5,594 $ 7,025 $ 60,364 $ 114,342 Real Estate: Mortgage, Multi-Family December 31, 2021 2021 2020 2019 2018 2017 Prior Revolving Loans Amortized Cost Basis Total Grade: Excellent $ 2,539 $ 4,513 $ — $ — $ — $ 701 $ — $ 7,753 Good 16,931 35,396 1,555 — — 9,289 — 63,171 Satisfactory 107,192 69,287 13,635 2,030 1,561 14,660 14,764 223,129 Monitor 26,088 35,886 176 — 131 1,584 5,669 69,534 Special Mention 640 — 820 — — — — 1,460 Substandard 12,186 — — — — 5,559 — 17,745 Total $ 165,576 $ 145,082 $ 16,186 $ 2,030 $ 1,692 $ 31,793 $ 20,433 $ 382,792 Real Estate: Mortgage, Commercial December 31, 2021 2021 2020 2019 2018 2017 Prior Revolving Loans Amortized Cost Basis Total Grade: Excellent $ 597 $ 16,781 $ — $ — $ 3,313 $ 350 $ 1 $ 21,042 Good 20,143 36,773 2,619 1,356 3,811 7,085 9,812 81,599 Satisfactory 75,040 52,653 14,727 12,091 9,707 17,398 16,333 197,949 Monitor 18,664 49,774 3,923 2,202 3,037 8,461 3,387 89,448 Special Mention 5,791 795 303 — 554 337 — 7,780 Substandard 1,528 1,721 — 208 — 102 — 3,559 Total $ 121,763 $ 158,497 $ 21,572 $ 15,857 $ 20,422 $ 33,733 $ 29,533 $ 401,377 Loans to Individuals December 31, 2021 2021 2020 2019 2018 2017 Prior Revolving Loans Amortized Cost Basis Total Grade: Excellent $ — $ — $ — $ — $ — $ — $ — $ — Good — — 67 21 5 — 1 94 Satisfactory 12,162 5,606 2,212 967 141 10,867 57 32,012 Monitor 200 160 15 46 3 — 1 425 Special Mention 37 32 29 4 — — 1 103 Substandard 12 24 12 — 1 3 1 53 Total $ 12,411 $ 5,822 $ 2,335 $ 1,038 $ 150 $ 10,870 $ 61 $ 32,687 Obligations of State and Political Subdivisions December 31, 2021 2021 2020 2019 2018 2017 Prior Revolving Loans Amortized Cost Basis Total Grade: Excellent $ — $ — $ — $ — $ — $ 6,076 $ — $ 6,076 Good — 1,984 — — — 9,051 — 11,035 Satisfactory 1,009 2,034 1,551 706 11,557 3,634 9,400 29,891 Monitor — 933 203 249 — 1,898 — 3,283 Special Mention — — — — — — — — Substandard — — — — — — — — Total $ 1,009 $ 4,951 $ 1,754 $ 955 $ 11,557 $ 20,659 $ 9,400 $ 50,285 |
Schedule of past due loans | Past due loans as of September 30, 2022 and December 31, 2021 were as follows: 30 - 59 Days 60 - 89 Days 90 Days Total Past Current Total Accruing Loans (Amounts In Thousands) September 30, 2022 Agricultural $ 202 $ — $ — $ 202 $ 98,353 $ 98,555 $ — Commercial and financial 701 618 6 1,325 246,854 248,179 — Real estate: Construction, 1 to 4 family residential 3,428 — 105 3,533 85,846 89,379 — Construction, land development and commercial 151 56 287 494 164,937 165,431 — Mortgage, farmland 118 — 60 178 247,925 248,103 — Mortgage, 1 to 4 family first liens 842 2,423 2,253 5,518 1,055,370 1,060,888 386 Mortgage, 1 to 4 family junior liens 53 30 16 99 118,227 118,326 7 Mortgage, multi-family — — — — 435,666 435,666 — Mortgage, commercial 2,949 181 1,145 4,275 392,773 397,048 — Loans to individuals 191 45 — 236 35,119 35,355 — Obligations of state and political subdivisions — — — — 49,191 49,191 — $ 8,635 $ 3,353 $ 3,872 $ 15,860 $ 2,930,261 $ 2,946,121 $ 393 December 31, 2021 Agricultural $ 41 $ — $ 219 $ 260 $ 106,673 $ 106,933 $ 6 Commercial and financial 300 537 468 1,305 220,697 222,002 91 Real estate: Construction, 1 to 4 family residential 276 — — 276 80,210 80,486 — Construction, land development and commercial 194 66 96 356 126,665 127,021 — Mortgage, farmland 503 362 — 865 231,879 232,744 — Mortgage, 1 to 4 family first liens 5,085 864 2,481 8,430 901,134 909,564 104 Mortgage, 1 to 4 family junior liens 246 41 124 411 113,931 114,342 — Mortgage, multi-family 640 — — 640 382,152 382,792 — Mortgage, commercial 466 — 829 1,295 400,082 401,377 — Loans to individuals 177 26 5 208 32,479 32,687 — Obligations of state and political subdivisions 394 — — 394 49,891 50,285 — $ 8,322 $ 1,896 $ 4,222 $ 14,440 $ 2,645,793 $ 2,660,233 $ 201 |
Schedule of impaired loan information | Certain nonaccrual and TDR loan information by loan type at September 30, 2022 and December 31, 2021, was as follows: September 30, 2022 December 31, 2021 Non-accrual Accruing loans TDR loans Non- Accruing loans TDR loans (Amounts In Thousands) (Amounts In Thousands) Agricultural $ — $ — $ 23 $ 221 $ 6 $ 374 Commercial and financial 678 — 675 707 91 1,085 Real estate: Construction, 1 to 4 family residential 105 — — 111 — — Construction, land development and commercial 287 — — 290 — 202 Mortgage, farmland 643 — 1,045 251 — 1,206 Mortgage, 1 to 4 family first liens 4,055 386 1,170 4,685 104 1,364 Mortgage, 1 to 4 family junior liens 178 7 19 200 — 20 Mortgage, multi-family — — 625 — — 1,460 Mortgage, commercial 1,819 — 1,952 2,026 — 2,210 Loans to individuals — — — — — — Obligations of state and political subdivisions — — — — — — $ 7,765 $ 393 $ 5,509 $ 8,491 $ 201 $ 7,921 (1) There were $3.18 million and $2.28 million of TDR loans included within nonaccrual loans as of September 30, 2022 and December 31, 2021, respectively. |
Schedule of information for TDR loans | Below is a summary of information for TDR loans as of September 30, 2022 and December 31, 2021: September 30, 2022 December 31, 2021 Number Recorded Commitments Number Recorded Commitments (Amounts In Thousands) (Amounts In Thousands) Agricultural 1 $ 23 $ 140 4 $ 586 $ — Commercial and financial 11 1,324 50 12 1,116 60 Real estate: Construction, 1 to 4 family residential 1 105 — — — — Construction, land development and commercial 1 191 — 1 202 — Mortgage, farmland 4 1,584 — 5 1,409 — Mortgage, 1 to 4 family first liens 8 1,170 — 14 1,441 — Mortgage, 1 to 4 family junior liens 1 19 — 1 20 — Mortgage, multi-family 1 625 — 2 1,460 — Mortgage, commercial 11 3,644 — 11 3,963 — Loans to individuals — — — — — — Obligations of state and political subdivisions — — — — — — 39 $ 8,685 $ 190 50 $ 10,197 $ 60 The following is a summary of TDR loans that were modified during the three and nine months ended September 30, 2022: Three Months Ended September 30, 2022 Nine Months Ended September 30, 2022 Number Pre-modification Post-modification Number Pre-modification Post-modification (Amounts In Thousands) (Amounts In Thousands) Agricultural — $ — $ — — $ — $ — Commercial and financial — — — 1 371 371 Real estate: Construction, 1 to 4 family residential — — — 1 105 105 Construction, land development and commercial — — — 1 191 191 Mortgage, farmland — — — 2 1,021 1,021 Mortgage, 1 to 4 family first lien — — — — — — Mortgage, 1 to 4 family junior liens — — — — — — Mortgage, multi-family — — — — — — Mortgage, commercial — — — 1 274 274 Loans to individuals — — — — — — Obligations of state and political subdivisions — — — — — — — $ — $ — 6 $ 1,962 $ 1,962 |
Leases (Tables)
Leases (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Leases [Abstract] | |
Maturities of lease liabilities, Topic 842 | As of September 30, 2022, maturities of lease liabilities were as follows: Year ending December 31: (Amounts In Thousands) 2022 (excluding the nine months ended September 30, 2022) $ 118 2023 327 2024 260 2025 263 2026 266 Thereafter 1,503 Total lease payments 2,737 Less imputed interest (446) Total operating lease liabilities $ 2,291 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Fair Value Disclosures [Abstract] | |
Carrying value and estimated fair values of entity's financial instruments | The carrying value and estimated fair values of the Company's financial instruments as of September 30, 2022 are as follows: September 30, 2022 Carrying Estimated Fair Readily Observable Company (Amounts In Thousands) Financial instrument assets: Cash and cash equivalents $ 242,121 $ 242,121 $ 242,121 $ — $ — Investment securities 747,553 747,553 449,393 298,160 — Loans held for sale 2,664 2,664 — 2,664 — Loans, net of allowance for credit losses Agricultural 96,085 96,082 — — 96,082 Commercial and financial 242,983 241,017 — — 241,017 Real estate: Construction, 1 to 4 family residential 88,388 88,854 — — 88,854 Construction, land development and commercial 162,958 160,469 — — 160,469 Mortgage, farmland 245,241 239,221 — — 239,221 Mortgage, 1 to 4 family first liens 1,051,289 1,028,672 — — 1,028,672 Mortgage, 1 to 4 family junior liens 115,414 113,961 — — 113,961 Mortgage, multi-family 431,237 423,741 — — 423,741 Mortgage, commercial 390,563 382,178 — — 382,178 Loans to individuals 34,515 33,826 — — 33,826 Obligations of state and political subdivisions 48,742 48,373 — — 48,373 Accrued interest receivable 14,520 14,520 — 14,520 — Total financial instrument assets $ 3,914,273 $ 3,863,252 $ 691,514 $ 315,344 $ 2,856,394 Financial instrument liabilities Deposits Noninterest-bearing deposits $ 696,137 $ 696,137 $ — $ 696,137 $ — Interest-bearing deposits 2,819,624 2,819,258 — 2,819,258 — Accrued interest payable 1,056 1,056 — 1,056 — Total financial instrument liabilities $ 3,516,817 $ 3,516,451 $ — $ 3,516,451 $ — Face Amount Financial instrument with off-balance sheet risk: Loan commitments $ 743,826 $ — $ — $ — $ — Letters of credit 7,026 — — — — Total financial instrument liabilities with off-balance-sheet risk $ 750,852 $ — $ — $ — $ — (1) Considered Level 1 under Accounting Standards Codification (“ASC”) Topic 820, Fair Value Measurements and Disclosures (“ASC 820”). (2) Considered Level 2 under ASC 820. (3) Considered Level 3 under ASC 820 and are based on valuation models that use significant assumptions that are not observable in an active market. The carrying value and estimated fair values of the Company's financial instruments as of December 31, 2021 are as follows: December 31, 2021 Carrying Estimated Fair Readily Observable Company (Amounts In Thousands) Financial instrument assets: Cash and cash equivalents $ 781,918 $ 781,918 $ 781,918 $ — $ — Investment securities 555,900 555,900 243,925 311,975 — Loans held for sale 5,716 5,716 — 5,716 — Loans, net of allowance for credit losses Agricultural 104,672 103,745 — — 103,745 Commercial and financial 217,733 216,466 — — 216,466 Real estate: Construction, 1 to 4 family residential 79,668 79,311 — — 79,311 Construction, land development and commercial 125,539 124,466 — — 124,466 Mortgage, farmland 229,311 228,365 — — 228,365 Mortgage, 1 to 4 family first liens 901,523 897,255 — — 897,255 Mortgage, 1 to 4 family junior liens 111,184 110,903 — — 110,903 Mortgage, multi-family 379,077 378,193 — — 378,193 Mortgage, commercial 394,594 391,950 — — 391,950 Loans to individuals 31,916 31,871 — — 31,871 Obligations of state and political subdivisions 49,845 50,155 — — 50,155 Accrued interest receivable 11,437 11,437 — 11,437 — Total financial instrument assets $ 3,980,033 $ 3,967,651 $ 1,025,843 $ 329,128 $ 2,612,680 Financial instrument liabilities: Deposits Noninterest-bearing deposits $ 633,101 $ 633,101 $ — $ 633,101 $ — Interest-bearing deposits 2,900,893 2,909,243 — 2,909,243 — Other borrowings 249 249 — 249 — Federal Home Loan Bank borrowings — — — — — Accrued interest payable 1,165 1,165 — 1,165 — Total financial instrument liabilities $ 3,535,408 $ 3,543,758 $ — $ 3,543,758 $ — Face Amount Financial instrument with off-balance sheet risk: Loan commitments $ 614,324 $ — $ — $ — $ — Letters of credit 7,179 — — — — Total financial instrument liabilities with off-balance-sheet risk $ 621,503 $ — $ — $ — $ — Considered Level 1 under ASC 820. (1) Considered Level 2 under ASC 820. (2) Considered Level 3 under ASC 820 and are based on valuation models that use significant assumptions that are not observable in an active market. |
Schedule of assets and liabilities measured at fair value on a recurring basis | The table below represents the balances of assets and liabilities measured at fair value on a recurring basis: September 30, 2022 Readily Observable Company Total at Fair Securities available for sale (Amounts In Thousands) U.S. Treasury $ 449,393 $ — $ — $ 449,393 State and political subdivisions — 216,489 — 216,489 Mortgage-backed securities and collateralized mortgage obligations — 50,094 — 50,094 Other securities (FHLB, FHLMC and FNMA) — 31,577 — 31,577 Total $ 449,393 $ 298,160 $ — $ 747,553 December 31, 2021 Readily Observable Company Total at Fair Securities available for sale (Amounts In Thousands) U.S. Treasury $ 243,925 $ — $ — $ 243,925 State and political subdivisions — 263,516 — 263,516 Mortgage-backed securities and collateralized mortgage obligations — 9,446 — 9,446 Other securities (FHLB, FHLMC and FNMA) — 34,467 — 34,467 Total $ 243,925 $ 307,429 $ — $ 551,354 (1) Considered Level 1 under ASC 820. (2) Considered Level 2 under ASC 820. (3) Considered Level 3 under ASC 820 and are based on valuation models that use significant assumptions that are not observable in an active market. |
Schedule of assets measured at fair value on a nonrecurring basis | The following tables present the Company’s assets that are measured at fair value on a nonrecurring basis. September 30, 2022 Three Months Ended September 30, 2022 Nine Months Ended September 30, 2022 Readily Observable Company Total at Total Losses Total Losses (Amounts in Thousands) Loans (4) Agricultural $ — $ — $ 55 $ 55 $ — $ — Commercial and financial — — 1,280 1,280 — 225 Real Estate: — Construction, 1 to 4 family residential — — 50 50 — — Construction, land development and commercial — — 287 287 — — Mortgage, farmland — — 1,687 1,687 — 104 Mortgage, 1 to 4 family first liens — — 5,158 5,158 153 243 Mortgage, 1 to 4 family junior liens — — 194 194 — 5 Mortgage, multi-family — — 625 625 — — Mortgage, commercial — — 3,408 3,408 — — Loans to individuals — — — — — — Foreclosed assets (5) — — — — — — Total $ — $ — $ 12,744 $ 12,744 $ 153 $ 577 (1) Considered Level 1 under ASC 820. (2) Considered Level 2 under ASC 820. (3) Considered Level 3 under ASC 820 and are based on valuation models that use significant assumptions that are not observable in an active market. (4) Represents carrying value and related write-downs of loans for which adjustments are based on the value of the collateral. The carrying value of loans fully-charged off is zero. (5) Represents the fair value and related losses of foreclosed real estate and other collateral owned that were measured at fair value subsequent to their initial classification as foreclosed assets. Assets and Liabilities Recorded at Fair Value on a Nonrecurring Basis (continued) December 31, 2021 Year Ended December 31, 2021 Readily Observable Company Total at Fair Total Losses (Amounts in Thousands) Loans (4) Agricultural $ — $ — $ 399 $ 399 $ — Commercial and financial — — 1,527 1,527 — Real Estate: Construction, 1 to 4 family residential — — 383 383 — Construction, land development and commercial — — 96 96 — Mortgage, farmland — — 1,114 1,114 — Mortgage, 1 to 4 family first liens — — 5,902 5,902 212 Mortgage, 1 to 4 family junior liens — — 202 202 9 Mortgage, multi-family — — 1,460 1,460 — Mortgage, commercial — — 4,176 4,176 255 Loans to individuals — — — — — Foreclosed assets (5) — — — — — Total $ — $ — $ 15,259 $ 15,259 $ 476 (1) Considered Level 1 under ASC 820. (2) Considered Level 2 under ASC 820. (3) Considered Level 3 under ASC 820 and are based on valuation models that use significant assumptions that are not observable in an active market. (4) Represents carrying value and related write-downs of loans for which adjustments are based on the value of the collateral. The carrying value of loans fully-charged off is zero. (5) Represents the fair value and related losses of foreclosed real estate and other collateral owned that were measured at fair value subsequent to their initial classification as foreclosed assets. |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of banks commitments | A summary of the Bank’s commitments at September 30, 2022 and December 31, 2021 is as follows: September 30, 2022 December 31, 2021 (Amounts In Thousands) Firm loan commitments and unused portion of lines of credit: Home equity loans $ 86,255 $ 78,961 Credit cards 65,321 65,913 Commercial, real estate and home construction 240,536 170,539 Commercial lines and real estate purchase loans 351,714 298,911 Outstanding letters of credit 7,026 7,179 |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies (Details) $ in Thousands | 9 Months Ended | |||||||
Sep. 30, 2022 USD ($) property segment | Jun. 30, 2022 USD ($) | Dec. 31, 2021 USD ($) | Sep. 30, 2021 USD ($) | Jun. 30, 2021 USD ($) | Feb. 28, 2021 USD ($) | Jan. 01, 2021 USD ($) | Dec. 31, 2020 USD ($) | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||||
Accrued interest receivable on AFS debt securities | $ 3,310 | |||||||
Net decrease to retained earnings | 409,063 | $ 416,650 | $ 438,450 | $ 436,304 | $ 425,377 | $ 416,076 | ||
Accrued interest receivable | $ 14,520 | 11,437 | ||||||
Number of operating segments | segment | 1 | |||||||
Number of multi family rental properties | property | 3 | |||||||
Number of assisted living rental properties | property | 3 | |||||||
Duration of tax credit of each property | 10 years | |||||||
Limited partnership, capital contribution | $ 4,180 | |||||||
Operating lease, right-of-use asset | $ 2,210 | 2,470 | ||||||
ACL Allocation | 38,980 | 38,260 | 35,470 | 35,590 | 35,940 | $ 37,070 | 37,070 | |
Impact of adopting ASC 326 | 4,120 | 5,110 | 3,850 | 4,580 | 4,090 | 0 | 0 | |
Loans Held For Investment | ||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||||
Accrued interest receivable | $ 11,210 | |||||||
Each Limited Partnership | ||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||||
Ownership interest in each limited partnership (or greater) | 99% | |||||||
As Reported Under ASC 326 | ||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||||
Net decrease to retained earnings | 411,325 | |||||||
ACL Allocation | 39,816 | |||||||
Impact of adopting ASC 326 | 3,584 | |||||||
Impact of ASC 326 Adoption | ||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||||
Net decrease to retained earnings | (4,751) | |||||||
ACL Allocation | 2,746 | 2,746 | ||||||
Impact of adopting ASC 326 | 3,584 | 3,584 | ||||||
Deferred income taxes, net | 1,580 | |||||||
Retained Earnings | ||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||||
Net decrease to retained earnings | $ 500,806 | $ 487,066 | $ 474,392 | $ 468,239 | $ 455,114 | 439,831 | ||
Retained Earnings | As Reported Under ASC 326 | ||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||||
Net decrease to retained earnings | 435,080 | |||||||
Retained Earnings | Impact of ASC 326 Adoption | ||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||||
Net decrease to retained earnings | $ 4,750 | $ (4,751) |
Earnings Per Share (Details)
Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | Jun. 30, 2022 | Dec. 31, 2021 | Jun. 30, 2021 | Dec. 31, 2020 | |
Summary of computation of basic and diluted earnings per share [Abstract] | ||||||||
Common shares outstanding at the beginning of the period (shares) | 9,267,410 | 9,299,640 | 9,306,252 | 9,330,995 | ||||
Weighted average number of net shares (redeemed) issued (shares) | (3,569) | (7,539) | (24,256) | (21,234) | ||||
Weighted average shares outstanding (basic) (shares) | 9,263,841 | 9,298,713 | 9,275,384 | 9,309,761 | ||||
Weighted average of potential dilutive shares attributable to stock options granted, computed under the treasury stock method (shares) | 676 | 3,731 | 1,935 | 3,605 | ||||
Weighted average number of shares (diluted) (shares) | 9,264,517 | 9,302,444 | 9,277,319 | 9,313,366 | ||||
Net income (In thousands) | $ 13,740 | $ 13,125 | $ 35,718 | $ 41,932 | ||||
Earnings per share: | ||||||||
Basic (in dollars per share) | $ 1.48 | $ 1.41 | $ 3.85 | $ 4.50 | ||||
Diluted (in dollars per share) | $ 1.48 | $ 1.41 | $ 3.85 | $ 4.50 |
Accumulated Other Comprehensi_3
Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2022 | Dec. 31, 2021 | |
Accumulated Other Comprehensive Income Loss [Line Items] | ||
Tax effect | $ 16,305 | $ (491) |
Net-of-tax amount | (50,959) | 1,477 |
Net unrealized loss on available-for-sale securities [Member] | ||
Accumulated Other Comprehensive Income Loss [Line Items] | ||
Net unrealized gain (loss) | $ (67,264) | $ 1,968 |
Securities (Details)
Securities (Details) | 9 Months Ended | ||
Sep. 30, 2022 USD ($) security | Sep. 30, 2021 USD ($) | Dec. 31, 2021 USD ($) security | |
Securities available for sale | |||
Securities available for sale, Percent | 100% | 100% | |
Available-for-sale Securities Reconciliation [Abstract] | |||
Amortized Cost | $ 814,817,000 | $ 549,386,000 | |
Gross Unrealized Gains | 32,000 | 6,431,000 | |
Gross Unrealized (Losses) | (67,296,000) | (4,463,000) | |
Allowance for Credit Losses | 0 | 0 | |
Amortized Cost | |||
Due in one year or less | 70,189,000 | ||
Due after one year through five years | 534,977,000 | ||
Due after five years through ten years | 106,929,000 | ||
Due over ten years | 44,460,000 | ||
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Amortized Cost, Total | 756,555,000 | ||
Fair Value | |||
Due in one year or less | 69,380,000 | ||
Due after one year through five years | 500,740,000 | ||
Due after five years through ten years | 93,201,000 | ||
Due over ten years | 34,138,000 | ||
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value, Total | 697,459,000 | ||
Carrying value of investment securities pledged to collateralize short-term borrowings | 747,553,000 | $ 551,354,000 | |
Debt Securities, Available-for-sale, Realized Gain (Loss) [Abstract] | |||
Sales, available for sale securities | $ 0 | $ 0 | |
Less than 12 months | |||
Number of securities | security | 749 | 295 | |
Fair Value | $ 548,872,000 | $ 229,339,000 | |
Unrealized Loss | $ (34,967,000) | $ (3,690,000) | |
Percentage | 6.37% | 1.61% | |
12 months or more | |||
Number of securities | security | 287 | 24 | |
Fair Value | $ 195,119,000 | $ 33,648,000 | |
Unrealized Loss | $ (32,329,000) | $ (773,000) | |
Percentage | 16.57% | 2.30% | |
Total | |||
Number of securities | security | 1,036 | 319 | |
Fair Value | $ 743,991,000 | $ 262,987,000 | |
Unrealized Loss | $ (67,296,000) | $ (4,463,000) | |
Percentage | 9.05% | 1.70% | |
Collateralized Securities [Member] | |||
Fair Value | |||
Carrying value of investment securities pledged to collateralize short-term borrowings | $ 9,020,000 | ||
U.S. Treasury [Member] | |||
Securities available for sale | |||
Securities available for sale, Percent | 60.12% | 44.24% | |
Available-for-sale Securities Reconciliation [Abstract] | |||
Amortized Cost | $ 477,725,000 | $ 244,192,000 | |
Gross Unrealized Gains | 0 | 2,011,000 | |
Gross Unrealized (Losses) | (28,332,000) | (2,278,000) | |
Allowance for Credit Losses | 0 | 0 | |
Fair Value | |||
Carrying value of investment securities pledged to collateralize short-term borrowings | $ 449,393,000 | $ 243,925,000 | |
Less than 12 months | |||
Number of securities | security | 108 | 55 | |
Fair Value | $ 348,659,000 | $ 136,867,000 | |
Unrealized Loss | $ (15,385,000) | $ (2,203,000) | |
Percentage | 4.41% | 1.61% | |
12 months or more | |||
Number of securities | security | 45 | 1 | |
Fair Value | $ 100,734,000 | $ 2,416,000 | |
Unrealized Loss | $ (12,947,000) | $ (75,000) | |
Percentage | 12.85% | 3.10% | |
Total | |||
Number of securities | security | 153 | 56 | |
Fair Value | $ 449,393,000 | $ 139,283,000 | |
Unrealized Loss | $ (28,332,000) | $ (2,278,000) | |
Percentage | 6.30% | 1.64% | |
Other securities [Member] | |||
Securities available for sale | |||
Securities available for sale, Percent | 4.22% | 6.25% | |
Available-for-sale Securities Reconciliation [Abstract] | |||
Amortized Cost | $ 35,279,000 | $ 35,353,000 | |
Gross Unrealized Gains | 0 | 0 | |
Gross Unrealized (Losses) | (3,702,000) | (886,000) | |
Allowance for Credit Losses | 0 | 0 | |
Fair Value | |||
Carrying value of investment securities pledged to collateralize short-term borrowings | $ 31,577,000 | $ 34,467,000 | |
Less than 12 months | |||
Number of securities | security | 0 | 5 | |
Fair Value | $ 0 | $ 12,484,000 | |
Unrealized Loss | $ 0 | $ (303,000) | |
Percentage | 0% | 2.43% | |
12 months or more | |||
Number of securities | security | 14 | 9 | |
Fair Value | $ 31,577,000 | $ 21,984,000 | |
Unrealized Loss | $ (3,702,000) | $ (583,000) | |
Percentage | 11.72% | 2.65% | |
Total | |||
Number of securities | security | 14 | 14 | |
Fair Value | $ 31,577,000 | $ 34,468,000 | |
Unrealized Loss | $ (3,702,000) | $ (886,000) | |
Percentage | 11.72% | 2.57% | |
State and political subdivisions [Member] | |||
Securities available for sale | |||
Securities available for sale, Percent | 28.96% | 47.80% | |
Available-for-sale Securities Reconciliation [Abstract] | |||
Amortized Cost | $ 243,551,000 | $ 260,266,000 | |
Gross Unrealized Gains | 32,000 | 4,420,000 | |
Gross Unrealized (Losses) | (27,094,000) | (1,170,000) | |
Allowance for Credit Losses | 0 | 0 | |
Fair Value | |||
Carrying value of investment securities pledged to collateralize short-term borrowings | $ 216,489,000 | $ 263,516,000 | |
Less than 12 months | |||
Number of securities | security | 627 | 231 | |
Fair Value | $ 157,266,000 | $ 70,542,000 | |
Unrealized Loss | $ (13,213,000) | $ (1,055,000) | |
Percentage | 8.40% | 1.50% | |
12 months or more | |||
Number of securities | security | 224 | 14 | |
Fair Value | $ 55,661,000 | $ 9,248,000 | |
Unrealized Loss | $ (13,881,000) | $ (115,000) | |
Percentage | 24.94% | 1.24% | |
Total | |||
Number of securities | security | 851 | 245 | |
Fair Value | $ 212,927,000 | $ 79,790,000 | |
Unrealized Loss | $ (27,094,000) | $ (1,170,000) | |
Percentage | 12.72% | 1.47% | |
Mortgage Backed Securities, Other | |||
Securities available for sale | |||
Securities available for sale, Percent | 6.70% | 1.71% | |
Available-for-sale Securities Reconciliation [Abstract] | |||
Amortized Cost | $ 58,262,000 | $ 9,575,000 | |
Gross Unrealized Gains | 0 | 0 | |
Gross Unrealized (Losses) | (8,168,000) | (129,000) | |
Allowance for Credit Losses | 0 | 0 | |
Amortized Cost | |||
Mortgage-backed securities and collateralized mortgage obligations, Amortized Cost | 58,262,000 | ||
Fair Value | |||
Mortgage-backed securities and collateralized mortgage obligations. Fair Value | 50,094,000 | ||
Carrying value of investment securities pledged to collateralize short-term borrowings | $ 50,094,000 | $ 9,446,000 | |
Less than 12 months | |||
Number of securities | security | 14 | 4 | |
Fair Value | $ 42,947,000 | $ 9,446,000 | |
Unrealized Loss | $ (6,369,000) | $ (129,000) | |
Percentage | 14.83% | 1.37% | |
12 months or more | |||
Number of securities | security | 4 | 0 | |
Fair Value | $ 7,147,000 | $ 0 | |
Unrealized Loss | $ (1,799,000) | $ 0 | |
Percentage | 25.17% | 0% | |
Total | |||
Number of securities | security | 18 | 4 | |
Fair Value | $ 50,094,000 | $ 9,446,000 | |
Unrealized Loss | $ (8,168,000) | $ (129,000) | |
Percentage | 16.31% | 1.37% |
Loans (Details)
Loans (Details) - USD ($) | 9 Months Ended | ||||||
Sep. 30, 2022 | Sep. 30, 2021 | Jun. 30, 2022 | Dec. 31, 2021 | Jun. 30, 2021 | Jan. 01, 2021 | Dec. 31, 2020 | |
Summary of classes of loans (abstract) | |||||||
Total Loans Receivable | $ 2,946,121,000 | $ 2,653,861,000 | $ 2,660,233,000 | ||||
Net unamortized fees and costs | 274,000 | 299,000 | |||||
Total | 2,946,395,000 | 2,660,532,000 | |||||
Less allowance for credit losses and loan losses | 38,980,000 | 35,590,000 | $ 38,260,000 | 35,470,000 | $ 35,940,000 | $ 37,070,000 | $ 37,070,000 |
Loans and receivable, net | 2,907,415,000 | 2,625,062,000 | |||||
Financing receivable, allowance for credit loss, change due to economic factors | 1,090,000 | ||||||
Financing Receivable, Allowance for Credit Losses, change due to loan volume | 3,340,000 | ||||||
Financing Receivable, Allowance for Credit Losses, change in prepayment and curtailment rates | 350,000 | ||||||
Impact of ASC 326 Adoption | |||||||
Summary of classes of loans (abstract) | |||||||
Less allowance for credit losses and loan losses | $ 2,746,000 | 2,746,000 | |||||
Agricultural | |||||||
Summary of classes of loans (abstract) | |||||||
Total Loans Receivable | 98,555,000 | 94,210,000 | 106,933,000 | ||||
Total | 98,555,000 | 106,933,000 | |||||
Less allowance for credit losses and loan losses | 2,470,000 | 2,118,000 | 2,265,000 | 2,261,000 | 2,055,000 | 2,508,000 | |
Agricultural | Impact of ASC 326 Adoption | |||||||
Summary of classes of loans (abstract) | |||||||
Less allowance for credit losses and loan losses | (328,000) | ||||||
Commercial and Financial | |||||||
Summary of classes of loans (abstract) | |||||||
Total Loans Receivable | 248,179,000 | 228,181,000 | 222,002,000 | ||||
Total | 248,179,000 | 222,002,000 | |||||
Less allowance for credit losses and loan losses | 5,196,000 | 4,348,000 | 5,194,000 | 4,269,000 | 4,802,000 | 4,885,000 | |
Commercial and Financial | Impact of ASC 326 Adoption | |||||||
Summary of classes of loans (abstract) | |||||||
Less allowance for credit losses and loan losses | 298,000 | ||||||
Commercial and Financial | Small Business Administration SBA, CARES Act, Paycheck Protection Program | |||||||
Summary of classes of loans (abstract) | |||||||
Interest and fee income, Loans and Leases, PPP Loan fees recognized in income | 0 | 5,480,000 | |||||
Real Estate Construction One to Four Family Residential [Member] | |||||||
Summary of classes of loans (abstract) | |||||||
Total Loans Receivable | 89,379,000 | 80,486,000 | |||||
Total | 89,379,000 | 80,486,000 | |||||
Real Estate: Construction, land development and commercial [Member] | |||||||
Summary of classes of loans (abstract) | |||||||
Total Loans Receivable | 165,431,000 | 127,021,000 | |||||
Total | 165,431,000 | 127,021,000 | |||||
Real Estate: Mortgage, farmland | |||||||
Summary of classes of loans (abstract) | |||||||
Total Loans Receivable | 248,103,000 | 241,650,000 | 232,744,000 | ||||
Total | 248,103,000 | 232,744,000 | |||||
Less allowance for credit losses and loan losses | 2,862,000 | $ 4,663,000 | $ 3,330,000 | 3,433,000 | $ 4,904,000 | 4,173,000 | |
Real Estate: Mortgage, farmland | Impact of ASC 326 Adoption | |||||||
Summary of classes of loans (abstract) | |||||||
Less allowance for credit losses and loan losses | $ 763,000 | ||||||
Real Estate: Mortgage, 1 to 4 family first liens [Member] | |||||||
Summary of classes of loans (abstract) | |||||||
Total Loans Receivable | 1,060,888,000 | 909,564,000 | |||||
Total | 1,060,888,000 | 909,564,000 | |||||
Real Estate: Mortgage, 1 to 4 family junior liens [Member] | |||||||
Summary of classes of loans (abstract) | |||||||
Total Loans Receivable | 118,326,000 | 114,342,000 | |||||
Total | 118,326,000 | 114,342,000 | |||||
Real Estate: Mortgage, multi-family [Member] | |||||||
Summary of classes of loans (abstract) | |||||||
Total Loans Receivable | 435,666,000 | 382,792,000 | |||||
Total | 435,666,000 | 382,792,000 | |||||
Real Estate: Mortgage, commercial [Member] | |||||||
Summary of classes of loans (abstract) | |||||||
Total Loans Receivable | 397,048,000 | 401,377,000 | |||||
Total | 397,048,000 | 401,377,000 | |||||
Loans to individuals [Member] | |||||||
Summary of classes of loans (abstract) | |||||||
Total Loans Receivable | 35,355,000 | 32,687,000 | |||||
Total | 35,355,000 | 32,687,000 | |||||
Obligations of state and political subdivisions [Member] | |||||||
Summary of classes of loans (abstract) | |||||||
Total Loans Receivable | 49,191,000 | 50,285,000 | |||||
Total | $ 49,191,000 | $ 50,285,000 |
Loans, Allowance For Credit Los
Loans, Allowance For Credit Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2021 | Jan. 01, 2021 | |
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||||
Beginning balance | $ 38,260 | $ 35,940 | $ 35,470 | $ 37,070 | ||
Charge-offs | (404) | (588) | (1,192) | (856) | ||
Recoveries | 470 | 646 | 1,702 | 2,187 | ||
Provision | 654 | (408) | 3,000 | (5,557) | ||
Ending balance | 38,980 | 35,590 | 38,980 | 35,590 | ||
Ending balance, individually evaluated for credit losses | 704 | 203 | 704 | 203 | $ 384 | |
Ending balance, collectively evaluated for credit losses | 38,276 | 35,387 | 38,276 | 35,387 | 35,086 | |
Loan balances: | ||||||
Total Loans Receivable | 2,946,121 | 2,653,861 | 2,946,121 | 2,653,861 | 2,660,233 | |
Ending balance, individually evaluated for credit losses | 14,017 | 16,755 | 14,017 | 16,755 | 16,633 | |
Ending balance, collectively evaluated for credit losses | 2,932,104 | 2,637,106 | 2,932,104 | 2,637,106 | 2,643,600 | |
Off-Balance Sheet, Credit Loss, Liability [Roll Forward] | ||||||
Beginning balance | 5,110 | 4,090 | 3,850 | 0 | ||
Impact of adopting ASC 326 | 4,120 | 4,580 | 4,120 | 4,580 | 3,850 | $ 0 |
Credit loss expense (benefit) | (990) | 490 | 270 | 996 | ||
(Charge-offs), net recoveries | 0 | 0 | 0 | 0 | ||
Ending balance | 4,120 | 4,580 | 4,120 | 4,580 | ||
Impact of ASC 326 Adoption | ||||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||||
Beginning balance | 2,746 | |||||
Off-Balance Sheet, Credit Loss, Liability [Roll Forward] | ||||||
Beginning balance | 3,584 | |||||
Impact of adopting ASC 326 | $ 3,584 | |||||
Agricultural | ||||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||||
Beginning balance | 2,265 | 2,055 | 2,261 | 2,508 | ||
Charge-offs | 0 | 0 | (1) | 0 | ||
Recoveries | 10 | 29 | 78 | 117 | ||
Provision | 195 | 34 | 132 | (179) | ||
Ending balance | 2,470 | 2,118 | 2,470 | 2,118 | ||
Ending balance, individually evaluated for credit losses | 295 | 3 | 295 | 3 | 1 | |
Ending balance, collectively evaluated for credit losses | 2,175 | 2,115 | 2,175 | 2,115 | 2,260 | |
Loan balances: | ||||||
Total Loans Receivable | 98,555 | 94,210 | 98,555 | 94,210 | 106,933 | |
Ending balance, individually evaluated for credit losses | 552 | 1,426 | 552 | 1,426 | 788 | |
Ending balance, collectively evaluated for credit losses | 98,003 | 92,784 | 98,003 | 92,784 | 106,145 | |
Off-Balance Sheet, Credit Loss, Liability [Roll Forward] | ||||||
Beginning balance | 659 | 494 | 383 | 0 | ||
Impact of adopting ASC 326 | 519 | 509 | 519 | 509 | 383 | |
Credit loss expense (benefit) | (140) | 15 | 136 | 124 | ||
(Charge-offs), net recoveries | 0 | 0 | 0 | 0 | ||
Ending balance | 519 | 509 | 519 | 509 | ||
Agricultural | Impact of ASC 326 Adoption | ||||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||||
Beginning balance | (328) | |||||
Off-Balance Sheet, Credit Loss, Liability [Roll Forward] | ||||||
Beginning balance | 385 | |||||
Impact of adopting ASC 326 | ||||||
Commercial and Financial | ||||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||||
Beginning balance | 5,194 | 4,802 | 4,269 | 4,885 | ||
Charge-offs | (18) | (14) | (309) | (90) | ||
Recoveries | 233 | 431 | 445 | 966 | ||
Provision | (213) | (871) | 791 | (1,711) | ||
Ending balance | 5,196 | 4,348 | 5,196 | 4,348 | ||
Ending balance, individually evaluated for credit losses | 4 | 4 | 4 | 4 | 189 | |
Ending balance, collectively evaluated for credit losses | 5,192 | 4,344 | 5,192 | 4,344 | 4,080 | |
Loan balances: | ||||||
Total Loans Receivable | 248,179 | 228,181 | 248,179 | 228,181 | 222,002 | |
Ending balance, individually evaluated for credit losses | 1,354 | 1,394 | 1,354 | 1,394 | 2,062 | |
Ending balance, collectively evaluated for credit losses | 246,825 | 226,787 | 246,825 | 226,787 | 219,940 | |
Off-Balance Sheet, Credit Loss, Liability [Roll Forward] | ||||||
Beginning balance | 1,776 | 1,529 | 1,118 | 0 | ||
Impact of adopting ASC 326 | 1,062 | 1,646 | 1,062 | 1,646 | 1,118 | |
Credit loss expense (benefit) | (714) | 117 | (56) | 61 | ||
(Charge-offs), net recoveries | 0 | 0 | 0 | 0 | ||
Ending balance | 1,062 | 1,646 | 1,062 | 1,646 | ||
Commercial and Financial | Impact of ASC 326 Adoption | ||||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||||
Beginning balance | 298 | |||||
Off-Balance Sheet, Credit Loss, Liability [Roll Forward] | ||||||
Beginning balance | 1,585 | |||||
Impact of adopting ASC 326 | ||||||
Real Estate: Construction and land development | ||||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||||
Beginning balance | 2,772 | 2,483 | 2,300 | 2,319 | ||
Charge-offs | 0 | 0 | 0 | (3) | ||
Recoveries | 2 | 2 | 7 | 93 | ||
Provision | 690 | (188) | 1,157 | (439) | ||
Ending balance | 3,464 | 2,297 | 3,464 | 2,297 | ||
Ending balance, individually evaluated for credit losses | 55 | 128 | 55 | 128 | 124 | |
Ending balance, collectively evaluated for credit losses | 3,409 | 2,169 | 3,409 | 2,169 | 2,176 | |
Loan balances: | ||||||
Total Loans Receivable | 254,810 | 191,790 | 254,810 | 191,790 | 207,507 | |
Ending balance, individually evaluated for credit losses | 392 | 1,028 | 392 | 1,028 | 603 | |
Ending balance, collectively evaluated for credit losses | 254,418 | 190,762 | 254,418 | 190,762 | 206,904 | |
Off-Balance Sheet, Credit Loss, Liability [Roll Forward] | ||||||
Beginning balance | 1,182 | 864 | 849 | 0 | ||
Impact of adopting ASC 326 | 1,606 | 996 | 1,606 | 996 | 849 | |
Credit loss expense (benefit) | 424 | 132 | 757 | 260 | ||
(Charge-offs), net recoveries | 0 | 0 | 0 | 0 | ||
Ending balance | 1,606 | 996 | 1,606 | 996 | ||
Real Estate: Construction and land development | Impact of ASC 326 Adoption | ||||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||||
Beginning balance | 327 | |||||
Off-Balance Sheet, Credit Loss, Liability [Roll Forward] | ||||||
Beginning balance | 736 | |||||
Impact of adopting ASC 326 | ||||||
Real Estate: Mortgage, farmland | ||||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||||
Beginning balance | 3,330 | 4,904 | 3,433 | 4,173 | ||
Charge-offs | (1) | 0 | (21) | (1) | ||
Recoveries | 6 | 0 | 296 | 25 | ||
Provision | (473) | (241) | (846) | (297) | ||
Ending balance | 2,862 | 4,663 | 2,862 | 4,663 | ||
Ending balance, individually evaluated for credit losses | 0 | 4 | 0 | 4 | 0 | |
Ending balance, collectively evaluated for credit losses | 2,862 | 4,659 | 2,862 | 4,659 | 3,433 | |
Loan balances: | ||||||
Total Loans Receivable | 248,103 | 241,650 | 248,103 | 241,650 | 232,744 | |
Ending balance, individually evaluated for credit losses | 1,687 | 1,583 | 1,687 | 1,583 | 1,277 | |
Ending balance, collectively evaluated for credit losses | 246,416 | 240,067 | 246,416 | 240,067 | 231,467 | |
Off-Balance Sheet, Credit Loss, Liability [Roll Forward] | ||||||
Beginning balance | 115 | 107 | 113 | 0 | ||
Impact of adopting ASC 326 | 165 | 168 | 165 | 168 | 113 | |
Credit loss expense (benefit) | 50 | 61 | 52 | (12) | ||
(Charge-offs), net recoveries | 0 | 0 | 0 | 0 | ||
Ending balance | 165 | 168 | 165 | 168 | ||
Real Estate: Mortgage, farmland | Impact of ASC 326 Adoption | ||||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||||
Beginning balance | 763 | |||||
Off-Balance Sheet, Credit Loss, Liability [Roll Forward] | ||||||
Beginning balance | 180 | |||||
Impact of adopting ASC 326 | ||||||
Real Estate: Mortgage, 1 to 4 family | ||||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||||
Beginning balance | 12,233 | 10,879 | 11,498 | 12,368 | ||
Charge-offs | (222) | (181) | (471) | (263) | ||
Recoveries | 143 | 140 | 686 | 648 | ||
Provision | 631 | 26 | 1,072 | (2,411) | ||
Ending balance | 12,785 | 10,864 | 12,785 | 10,864 | ||
Ending balance, individually evaluated for credit losses | 42 | 59 | 42 | 59 | 49 | |
Ending balance, collectively evaluated for credit losses | 12,743 | 10,805 | 12,743 | 10,805 | 11,449 | |
Loan balances: | ||||||
Total Loans Receivable | 1,179,214 | 1,013,641 | 1,179,214 | 1,013,641 | 1,023,906 | |
Ending balance, individually evaluated for credit losses | 5,637 | 5,566 | 5,637 | 5,566 | 6,187 | |
Ending balance, collectively evaluated for credit losses | 1,173,577 | 1,008,075 | 1,173,577 | 1,008,075 | 1,017,719 | |
Off-Balance Sheet, Credit Loss, Liability [Roll Forward] | ||||||
Beginning balance | 1,025 | 791 | 794 | 0 | ||
Impact of adopting ASC 326 | 626 | 804 | 626 | 804 | 794 | |
Credit loss expense (benefit) | (399) | 13 | (168) | 333 | ||
(Charge-offs), net recoveries | 0 | 0 | 0 | 0 | ||
Ending balance | 626 | 804 | 626 | 804 | ||
Real Estate: Mortgage, 1 to 4 family | Impact of ASC 326 Adoption | ||||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||||
Beginning balance | 522 | |||||
Off-Balance Sheet, Credit Loss, Liability [Roll Forward] | ||||||
Beginning balance | 471 | |||||
Impact of adopting ASC 326 | ||||||
Real Estate: Mortgage, multi-family and commercial | ||||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||||
Beginning balance | 11,233 | 9,707 | 10,498 | 9,415 | ||
Charge-offs | 0 | (255) | (1) | (265) | ||
Recoveries | 26 | 23 | 76 | 240 | ||
Provision | (345) | 743 | 341 | (568) | ||
Ending balance | 10,914 | 10,218 | 10,914 | 10,218 | ||
Ending balance, individually evaluated for credit losses | 308 | 5 | 308 | 5 | 1 | |
Ending balance, collectively evaluated for credit losses | 10,606 | 10,213 | 10,606 | 10,213 | 10,497 | |
Loan balances: | ||||||
Total Loans Receivable | 832,714 | 799,855 | 832,714 | 799,855 | 784,169 | |
Ending balance, individually evaluated for credit losses | 4,395 | 5,758 | 4,395 | 5,758 | 5,696 | |
Ending balance, collectively evaluated for credit losses | 828,319 | 794,097 | 828,319 | 794,097 | 778,473 | |
Off-Balance Sheet, Credit Loss, Liability [Roll Forward] | ||||||
Beginning balance | 300 | 275 | 559 | 0 | ||
Impact of adopting ASC 326 | 108 | 431 | 108 | 431 | 559 | |
Credit loss expense (benefit) | (192) | 156 | (451) | 219 | ||
(Charge-offs), net recoveries | 0 | 0 | 0 | 0 | ||
Ending balance | 108 | 431 | 108 | 431 | ||
Real Estate: Mortgage, multi-family and commercial | Impact of ASC 326 Adoption | ||||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||||
Beginning balance | 1,396 | |||||
Off-Balance Sheet, Credit Loss, Liability [Roll Forward] | ||||||
Beginning balance | 212 | |||||
Impact of adopting ASC 326 | ||||||
Other | ||||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||||
Beginning balance | 1,233 | 1,110 | 1,211 | 1,402 | ||
Charge-offs | (163) | (138) | (389) | (234) | ||
Recoveries | 50 | 21 | 114 | 98 | ||
Provision | 169 | 89 | 353 | 48 | ||
Ending balance | 1,289 | 1,082 | 1,289 | 1,082 | ||
Ending balance, individually evaluated for credit losses | 0 | 0 | 0 | 0 | 20 | |
Ending balance, collectively evaluated for credit losses | 1,289 | 1,082 | 1,289 | 1,082 | 1,191 | |
Loan balances: | ||||||
Total Loans Receivable | 84,546 | 84,534 | 84,546 | 84,534 | 82,972 | |
Ending balance, individually evaluated for credit losses | 0 | 0 | 0 | 0 | 20 | |
Ending balance, collectively evaluated for credit losses | 84,546 | 84,534 | 84,546 | 84,534 | 82,952 | |
Off-Balance Sheet, Credit Loss, Liability [Roll Forward] | ||||||
Beginning balance | 53 | 30 | 34 | 0 | ||
Impact of adopting ASC 326 | 34 | 26 | 34 | 26 | $ 34 | |
Credit loss expense (benefit) | (19) | (4) | 0 | 11 | ||
(Charge-offs), net recoveries | 0 | 0 | 0 | 0 | ||
Ending balance | $ 34 | $ 26 | $ 34 | 26 | ||
Other | Impact of ASC 326 Adoption | ||||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||||
Beginning balance | (232) | |||||
Off-Balance Sheet, Credit Loss, Liability [Roll Forward] | ||||||
Beginning balance | $ 15 | |||||
Impact of adopting ASC 326 |
Loans, Credit Quality Indicator
Loans, Credit Quality Indicators (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 | Sep. 30, 2021 |
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Total Loans Receivable | $ 2,946,121 | $ 2,660,233 | $ 2,653,861 |
Summary of credit quality indicators by type of loans [Abstract] | |||
Total | 2,946,395 | 2,660,532 | |
Agricultural | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Total Loans Receivable | 98,555 | 106,933 | 94,210 |
Summary of credit quality indicators by type of loans [Abstract] | |||
2020 | 27,969 | 23,275 | |
2019 | 7,671 | 13,481 | |
2018 | 6,578 | 3,395 | |
2017 | 2,459 | 2,591 | |
2016 | 1,888 | 626 | |
Prior | 306 | 345 | |
Revolving Loans Amortized Cost Basis | 51,684 | 63,220 | |
Total | 98,555 | 106,933 | |
Commercial and Financial | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Total Loans Receivable | 248,179 | 222,002 | 228,181 |
Summary of credit quality indicators by type of loans [Abstract] | |||
2020 | 76,039 | 79,683 | |
2019 | 45,803 | 36,555 | |
2018 | 23,295 | 13,003 | |
2017 | 7,286 | 6,150 | |
2016 | 3,438 | 2,904 | |
Prior | 2,650 | 2,245 | |
Revolving Loans Amortized Cost Basis | 89,668 | 81,462 | |
Total | 248,179 | 222,002 | |
Real Estate Construction One to Four Family Residential [Member] | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Total Loans Receivable | 89,379 | 80,486 | |
Summary of credit quality indicators by type of loans [Abstract] | |||
2020 | 3,365 | 9,087 | |
2019 | 4,520 | 94 | |
2018 | 0 | 0 | |
2017 | 0 | 0 | |
2016 | 0 | 0 | |
Prior | 0 | 0 | |
Revolving Loans Amortized Cost Basis | 81,494 | 71,305 | |
Total | 89,379 | 80,486 | |
Real Estate: Construction, land development and commercial [Member] | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Total Loans Receivable | 165,431 | 127,021 | |
Summary of credit quality indicators by type of loans [Abstract] | |||
2020 | 33,403 | 44,489 | |
2019 | 16,873 | 6,399 | |
2018 | 2,470 | 2,556 | |
2017 | 1,351 | 301 | |
2016 | 288 | 1,451 | |
Prior | 1,331 | 267 | |
Revolving Loans Amortized Cost Basis | 109,715 | 71,558 | |
Total | 165,431 | 127,021 | |
Real Estate: Mortgage, farmland | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Total Loans Receivable | 248,103 | 232,744 | $ 241,650 |
Summary of credit quality indicators by type of loans [Abstract] | |||
2020 | 97,371 | 83,312 | |
2019 | 63,566 | 71,152 | |
2018 | 36,025 | 12,766 | |
2017 | 9,179 | 14,826 | |
2016 | 8,288 | 15,209 | |
Prior | 14,250 | 17,564 | |
Revolving Loans Amortized Cost Basis | 19,424 | 17,915 | |
Total | 248,103 | 232,744 | |
Real Estate: Mortgage, 1 to 4 family first liens [Member] | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Total Loans Receivable | 1,060,888 | 909,564 | |
Summary of credit quality indicators by type of loans [Abstract] | |||
2020 | 341,401 | 271,633 | |
2019 | 236,351 | 241,007 | |
2018 | 179,922 | 79,642 | |
2017 | 61,103 | 77,761 | |
2016 | 58,992 | 73,046 | |
Prior | 162,313 | 151,468 | |
Revolving Loans Amortized Cost Basis | 20,806 | 15,007 | |
Total | 1,060,888 | 909,564 | |
Real Estate: Mortgage, 1 to 4 family junior liens [Member] | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Total Loans Receivable | 118,326 | 114,342 | |
Summary of credit quality indicators by type of loans [Abstract] | |||
2020 | 12,622 | 14,383 | |
2019 | 11,888 | 12,671 | |
2018 | 9,595 | 6,134 | |
2017 | 5,018 | 8,171 | |
2016 | 5,481 | 5,594 | |
Prior | 8,761 | 7,025 | |
Revolving Loans Amortized Cost Basis | 64,961 | 60,364 | |
Total | 118,326 | 114,342 | |
Real Estate: Mortgage, multi-family [Member] | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Total Loans Receivable | 435,666 | 382,792 | |
Summary of credit quality indicators by type of loans [Abstract] | |||
2020 | 165,042 | 165,576 | |
2019 | 139,658 | 145,082 | |
2018 | 84,794 | 16,186 | |
2017 | 2,585 | 2,030 | |
2016 | 475 | 1,692 | |
Prior | 25,373 | 31,793 | |
Revolving Loans Amortized Cost Basis | 17,739 | 20,433 | |
Total | 435,666 | 382,792 | |
Real Estate: Mortgage, commercial [Member] | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Total Loans Receivable | 397,048 | 401,377 | |
Summary of credit quality indicators by type of loans [Abstract] | |||
2020 | 94,078 | 121,763 | |
2019 | 105,071 | 158,497 | |
2018 | 103,355 | 21,572 | |
2017 | 16,378 | 15,857 | |
2016 | 11,654 | 20,422 | |
Prior | 31,810 | 33,733 | |
Revolving Loans Amortized Cost Basis | 34,702 | 29,533 | |
Total | 397,048 | 401,377 | |
Loans to individuals [Member] | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Total Loans Receivable | 35,355 | 32,687 | |
Summary of credit quality indicators by type of loans [Abstract] | |||
2020 | 11,465 | 12,411 | |
2019 | 7,586 | 5,822 | |
2018 | 3,202 | 2,335 | |
2017 | 1,128 | 1,038 | |
2016 | 470 | 150 | |
Prior | 11,387 | 10,870 | |
Revolving Loans Amortized Cost Basis | 117 | 61 | |
Total | 35,355 | 32,687 | |
Obligations of state and political subdivisions [Member] | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||
Total Loans Receivable | 49,191 | 50,285 | |
Summary of credit quality indicators by type of loans [Abstract] | |||
2020 | 2,599 | 1,009 | |
2019 | 844 | 4,951 | |
2018 | 4,723 | 1,754 | |
2017 | 1,712 | 955 | |
2016 | 688 | 11,557 | |
Prior | 29,639 | 20,659 | |
Revolving Loans Amortized Cost Basis | 8,986 | 9,400 | |
Total | 49,191 | 50,285 | |
Excellent [Member] | Agricultural | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
2020 | 749 | 762 | |
2019 | 0 | 213 | |
2018 | 223 | 30 | |
2017 | 20 | 10 | |
2016 | 3 | 0 | |
Prior | 0 | 0 | |
Revolving Loans Amortized Cost Basis | 1,397 | 2,312 | |
Total | 2,392 | 3,327 | |
Excellent [Member] | Commercial and Financial | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
2020 | 1,252 | 965 | |
2019 | 758 | 924 | |
2018 | 554 | 4 | |
2017 | 0 | 235 | |
2016 | 202 | 31 | |
Prior | 0 | 0 | |
Revolving Loans Amortized Cost Basis | 4,178 | 3,391 | |
Total | 6,944 | 5,550 | |
Excellent [Member] | Real Estate Construction One to Four Family Residential [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
2020 | 0 | 0 | |
2019 | 0 | 0 | |
2018 | 0 | 0 | |
2017 | 0 | 0 | |
2016 | 0 | 0 | |
Prior | 0 | 0 | |
Revolving Loans Amortized Cost Basis | 0 | 0 | |
Total | 0 | 0 | |
Excellent [Member] | Real Estate: Construction, land development and commercial [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
2020 | 375 | 5,079 | |
2019 | 0 | 0 | |
2018 | 0 | 0 | |
2017 | 0 | 0 | |
2016 | 0 | 143 | |
Prior | 132 | 4 | |
Revolving Loans Amortized Cost Basis | 1,292 | 0 | |
Total | 1,799 | 5,226 | |
Excellent [Member] | Real Estate: Mortgage, farmland | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
2020 | 3,058 | 0 | |
2019 | 58 | 3,568 | |
2018 | 282 | 124 | |
2017 | 68 | 60 | |
2016 | 0 | 80 | |
Prior | 4 | 41 | |
Revolving Loans Amortized Cost Basis | 120 | 134 | |
Total | 3,590 | 4,007 | |
Excellent [Member] | Real Estate: Mortgage, 1 to 4 family first liens [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
2020 | 1,396 | 462 | |
2019 | 453 | 914 | |
2018 | 265 | 427 | |
2017 | 0 | 19 | |
2016 | 10 | 149 | |
Prior | 515 | 404 | |
Revolving Loans Amortized Cost Basis | 0 | 1 | |
Total | 2,639 | 2,376 | |
Excellent [Member] | Real Estate: Mortgage, 1 to 4 family junior liens [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
2020 | 0 | 0 | |
2019 | 0 | 13 | |
2018 | 9 | 0 | |
2017 | 0 | 0 | |
2016 | 0 | 0 | |
Prior | 0 | 0 | |
Revolving Loans Amortized Cost Basis | 16 | 6 | |
Total | 25 | 19 | |
Excellent [Member] | Real Estate: Mortgage, multi-family [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
2020 | 299 | 2,539 | |
2019 | 3,155 | 4,513 | |
2018 | 2,644 | 0 | |
2017 | 0 | 0 | |
2016 | 0 | 0 | |
Prior | 649 | 701 | |
Revolving Loans Amortized Cost Basis | 0 | 0 | |
Total | 6,747 | 7,753 | |
Excellent [Member] | Real Estate: Mortgage, commercial [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
2020 | 2,050 | 597 | |
2019 | 582 | 16,781 | |
2018 | 21,625 | 0 | |
2017 | 0 | 0 | |
2016 | 0 | 3,313 | |
Prior | 1,186 | 350 | |
Revolving Loans Amortized Cost Basis | 0 | 1 | |
Total | 25,443 | 21,042 | |
Excellent [Member] | Loans to individuals [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
2020 | 58 | 0 | |
2019 | 0 | 0 | |
2018 | 0 | 0 | |
2017 | 0 | 0 | |
2016 | 0 | 0 | |
Prior | 0 | 0 | |
Revolving Loans Amortized Cost Basis | 0 | 0 | |
Total | 58 | 0 | |
Excellent [Member] | Obligations of state and political subdivisions [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
2020 | 0 | 0 | |
2019 | 0 | 0 | |
2018 | 0 | 0 | |
2017 | 0 | 0 | |
2016 | 0 | 0 | |
Prior | 5,078 | 6,076 | |
Revolving Loans Amortized Cost Basis | 0 | 0 | |
Total | 5,078 | 6,076 | |
Good [Member] | Agricultural | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
2020 | 2,147 | 1,799 | |
2019 | 633 | 1,767 | |
2018 | 1,133 | 603 | |
2017 | 430 | 46 | |
2016 | 36 | 52 | |
Prior | 16 | 26 | |
Revolving Loans Amortized Cost Basis | 4,685 | 7,593 | |
Total | 9,080 | 11,886 | |
Good [Member] | Commercial and Financial | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
2020 | 14,265 | 13,722 | |
2019 | 8,648 | 5,570 | |
2018 | 3,110 | 1,105 | |
2017 | 627 | 1,086 | |
2016 | 134 | 276 | |
Prior | 1,148 | 1,494 | |
Revolving Loans Amortized Cost Basis | 10,092 | 20,709 | |
Total | 38,024 | 43,962 | |
Good [Member] | Real Estate Construction One to Four Family Residential [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
2020 | 212 | 212 | |
2019 | 1,192 | 0 | |
2018 | 0 | 0 | |
2017 | 0 | 0 | |
2016 | 0 | 0 | |
Prior | 0 | 0 | |
Revolving Loans Amortized Cost Basis | 21,356 | 18,755 | |
Total | 22,760 | 18,967 | |
Good [Member] | Real Estate: Construction, land development and commercial [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
2020 | 2,306 | 3,294 | |
2019 | 584 | 1,200 | |
2018 | 947 | 0 | |
2017 | 0 | 0 | |
2016 | 0 | 153 | |
Prior | 227 | 242 | |
Revolving Loans Amortized Cost Basis | 19,733 | 12,678 | |
Total | 23,797 | 17,567 | |
Good [Member] | Real Estate: Mortgage, farmland | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
2020 | 20,914 | 17,827 | |
2019 | 13,439 | 14,308 | |
2018 | 7,917 | 2,144 | |
2017 | 1,626 | 2,460 | |
2016 | 965 | 5,932 | |
Prior | 3,434 | 3,929 | |
Revolving Loans Amortized Cost Basis | 5,224 | 3,844 | |
Total | 53,519 | 50,444 | |
Good [Member] | Real Estate: Mortgage, 1 to 4 family first liens [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
2020 | 22,265 | 9,598 | |
2019 | 4,842 | 12,300 | |
2018 | 8,574 | 3,124 | |
2017 | 1,247 | 3,443 | |
2016 | 2,165 | 3,091 | |
Prior | 10,231 | 10,943 | |
Revolving Loans Amortized Cost Basis | 1,964 | 2,496 | |
Total | 51,288 | 44,995 | |
Good [Member] | Real Estate: Mortgage, 1 to 4 family junior liens [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
2020 | 228 | 193 | |
2019 | 190 | 611 | |
2018 | 474 | 96 | |
2017 | 93 | 0 | |
2016 | 0 | 108 | |
Prior | 543 | 482 | |
Revolving Loans Amortized Cost Basis | 1,418 | 1,374 | |
Total | 2,946 | 2,864 | |
Good [Member] | Real Estate: Mortgage, multi-family [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
2020 | 18,318 | 16,931 | |
2019 | 15,669 | 35,396 | |
2018 | 26,865 | 1,555 | |
2017 | 29 | 0 | |
2016 | 0 | 0 | |
Prior | 8,821 | 9,289 | |
Revolving Loans Amortized Cost Basis | 0 | 0 | |
Total | 69,702 | 63,171 | |
Good [Member] | Real Estate: Mortgage, commercial [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
2020 | 19,117 | 20,143 | |
2019 | 23,256 | 36,773 | |
2018 | 14,800 | 2,619 | |
2017 | 2,071 | 1,356 | |
2016 | 1,292 | 3,811 | |
Prior | 5,809 | 7,085 | |
Revolving Loans Amortized Cost Basis | 11,695 | 9,812 | |
Total | 78,040 | 81,599 | |
Good [Member] | Loans to individuals [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
2020 | 22 | 0 | |
2019 | 0 | 0 | |
2018 | 0 | 67 | |
2017 | 18 | 21 | |
2016 | 0 | 5 | |
Prior | 0 | 0 | |
Revolving Loans Amortized Cost Basis | 2 | 1 | |
Total | 42 | 94 | |
Good [Member] | Obligations of state and political subdivisions [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
2020 | 0 | 0 | |
2019 | 0 | 1,984 | |
2018 | 1,899 | 0 | |
2017 | 0 | 0 | |
2016 | 0 | 0 | |
Prior | 8,516 | 9,051 | |
Revolving Loans Amortized Cost Basis | 0 | 0 | |
Total | 10,415 | 11,035 | |
Satisfactory [Member] | Agricultural | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
2020 | 12,541 | 10,335 | |
2019 | 4,596 | 6,404 | |
2018 | 2,721 | 1,476 | |
2017 | 1,006 | 1,770 | |
2016 | 1,253 | 403 | |
Prior | 65 | 66 | |
Revolving Loans Amortized Cost Basis | 21,559 | 26,285 | |
Total | 43,741 | 46,739 | |
Satisfactory [Member] | Commercial and Financial | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
2020 | 45,706 | 44,964 | |
2019 | 26,361 | 20,847 | |
2018 | 12,751 | 7,684 | |
2017 | 5,097 | 3,582 | |
2016 | 2,366 | 2,106 | |
Prior | 900 | 331 | |
Revolving Loans Amortized Cost Basis | 53,506 | 41,832 | |
Total | 146,687 | 121,346 | |
Satisfactory [Member] | Real Estate Construction One to Four Family Residential [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
2020 | 2,169 | 7,457 | |
2019 | 3,223 | 94 | |
2018 | 0 | 0 | |
2017 | 0 | 0 | |
2016 | 0 | 0 | |
Prior | 0 | 0 | |
Revolving Loans Amortized Cost Basis | 41,936 | 42,988 | |
Total | 47,328 | 50,539 | |
Satisfactory [Member] | Real Estate: Construction, land development and commercial [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
2020 | 15,940 | 22,907 | |
2019 | 12,707 | 4,354 | |
2018 | 1,200 | 2,356 | |
2017 | 1,345 | 263 | |
2016 | 254 | 1,081 | |
Prior | 900 | 21 | |
Revolving Loans Amortized Cost Basis | 59,340 | 40,048 | |
Total | 91,686 | 71,030 | |
Satisfactory [Member] | Real Estate: Mortgage, farmland | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
2020 | 39,819 | 51,639 | |
2019 | 44,509 | 35,616 | |
2018 | 21,598 | 4,689 | |
2017 | 3,832 | 8,358 | |
2016 | 6,096 | 6,745 | |
Prior | 9,626 | 8,339 | |
Revolving Loans Amortized Cost Basis | 10,990 | 8,242 | |
Total | 136,470 | 123,628 | |
Satisfactory [Member] | Real Estate: Mortgage, 1 to 4 family first liens [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
2020 | 290,081 | 233,412 | |
2019 | 204,279 | 189,247 | |
2018 | 141,224 | 69,037 | |
2017 | 53,471 | 65,201 | |
2016 | 49,188 | 60,906 | |
Prior | 132,555 | 118,608 | |
Revolving Loans Amortized Cost Basis | 13,104 | 8,443 | |
Total | 883,902 | 744,854 | |
Satisfactory [Member] | Real Estate: Mortgage, 1 to 4 family junior liens [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
2020 | 11,891 | 13,684 | |
2019 | 11,245 | 10,116 | |
2018 | 8,129 | 5,854 | |
2017 | 4,667 | 7,309 | |
2016 | 5,073 | 5,230 | |
Prior | 7,806 | 6,053 | |
Revolving Loans Amortized Cost Basis | 60,297 | 55,496 | |
Total | 109,108 | 103,742 | |
Satisfactory [Member] | Real Estate: Mortgage, multi-family [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
2020 | 98,677 | 107,192 | |
2019 | 96,242 | 69,287 | |
2018 | 29,386 | 13,635 | |
2017 | 2,385 | 2,030 | |
2016 | 475 | 1,561 | |
Prior | 14,563 | 14,660 | |
Revolving Loans Amortized Cost Basis | 10,661 | 14,764 | |
Total | 252,389 | 223,129 | |
Satisfactory [Member] | Real Estate: Mortgage, commercial [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
2020 | 51,658 | 75,040 | |
2019 | 63,796 | 52,653 | |
2018 | 40,355 | 14,727 | |
2017 | 10,960 | 12,091 | |
2016 | 8,625 | 9,707 | |
Prior | 17,073 | 17,398 | |
Revolving Loans Amortized Cost Basis | 18,404 | 16,333 | |
Total | 210,871 | 197,949 | |
Satisfactory [Member] | Loans to individuals [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
2020 | 11,077 | 12,162 | |
2019 | 7,316 | 5,606 | |
2018 | 3,117 | 2,212 | |
2017 | 1,084 | 967 | |
2016 | 435 | 141 | |
Prior | 11,387 | 10,867 | |
Revolving Loans Amortized Cost Basis | 111 | 57 | |
Total | 34,527 | 32,012 | |
Satisfactory [Member] | Obligations of state and political subdivisions [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
2020 | 2,599 | 1,009 | |
2019 | 844 | 2,034 | |
2018 | 1,975 | 1,551 | |
2017 | 1,523 | 706 | |
2016 | 589 | 11,557 | |
Prior | 14,282 | 3,634 | |
Revolving Loans Amortized Cost Basis | 8,986 | 9,400 | |
Total | 30,798 | 29,891 | |
Monitor [Member] | Agricultural | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
2020 | 11,712 | 8,125 | |
2019 | 2,442 | 5,017 | |
2018 | 2,213 | 998 | |
2017 | 943 | 765 | |
2016 | 420 | 164 | |
Prior | 225 | 253 | |
Revolving Loans Amortized Cost Basis | 20,652 | 23,995 | |
Total | 38,607 | 39,317 | |
Monitor [Member] | Commercial and Financial | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
2020 | 13,176 | 18,337 | |
2019 | 9,225 | 8,019 | |
2018 | 6,545 | 3,591 | |
2017 | 1,354 | 1,123 | |
2016 | 702 | 297 | |
Prior | 602 | 416 | |
Revolving Loans Amortized Cost Basis | 19,448 | 13,368 | |
Total | 51,052 | 45,151 | |
Monitor [Member] | Real Estate Construction One to Four Family Residential [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
2020 | 0 | 1,307 | |
2019 | 0 | 0 | |
2018 | 0 | 0 | |
2017 | 0 | 0 | |
2016 | 0 | 0 | |
Prior | 0 | 0 | |
Revolving Loans Amortized Cost Basis | 0 | 9,187 | |
Total | 0 | 10,494 | |
Monitor [Member] | Real Estate: Construction, land development and commercial [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
2020 | 0 | 5,694 | |
2019 | 0 | 547 | |
2018 | 0 | 7 | |
2017 | 0 | 38 | |
2016 | 0 | 74 | |
Prior | 0 | 0 | |
Revolving Loans Amortized Cost Basis | 0 | 18,832 | |
Total | 0 | 25,192 | |
Monitor [Member] | Real Estate: Mortgage, farmland | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
2020 | 26,598 | 8,532 | |
2019 | 5,464 | 16,925 | |
2018 | 6,020 | 5,518 | |
2017 | 3,309 | 3,901 | |
2016 | 891 | 2,154 | |
Prior | 975 | 4,866 | |
Revolving Loans Amortized Cost Basis | 3,090 | 5,695 | |
Total | 46,347 | 47,591 | |
Monitor [Member] | Real Estate: Mortgage, 1 to 4 family first liens [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
2020 | 26,097 | 24,908 | |
2019 | 23,646 | 33,863 | |
2018 | 25,438 | 5,038 | |
2017 | 4,180 | 6,527 | |
2016 | 5,168 | 7,273 | |
Prior | 10,431 | 12,203 | |
Revolving Loans Amortized Cost Basis | 5,737 | 4,066 | |
Total | 100,697 | 93,878 | |
Monitor [Member] | Real Estate: Mortgage, 1 to 4 family junior liens [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
2020 | 399 | 326 | |
2019 | 275 | 1,233 | |
2018 | 432 | 70 | |
2017 | 94 | 365 | |
2016 | 289 | 140 | |
Prior | 197 | 281 | |
Revolving Loans Amortized Cost Basis | 2,742 | 2,801 | |
Total | 4,428 | 5,216 | |
Monitor [Member] | Real Estate: Mortgage, multi-family [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
2020 | 47,748 | 26,088 | |
2019 | 24,592 | 35,886 | |
2018 | 25,899 | 176 | |
2017 | 171 | 0 | |
2016 | 0 | 131 | |
Prior | 1,340 | 1,584 | |
Revolving Loans Amortized Cost Basis | 7,078 | 5,669 | |
Total | 106,828 | 69,534 | |
Monitor [Member] | Real Estate: Mortgage, commercial [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
2020 | 20,450 | 18,664 | |
2019 | 16,183 | 49,774 | |
2018 | 24,262 | 3,923 | |
2017 | 3,052 | 2,202 | |
2016 | 1,543 | 3,037 | |
Prior | 7,401 | 8,461 | |
Revolving Loans Amortized Cost Basis | 4,601 | 3,387 | |
Total | 77,492 | 89,448 | |
Monitor [Member] | Loans to individuals [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
2020 | 221 | 200 | |
2019 | 202 | 160 | |
2018 | 73 | 15 | |
2017 | 16 | 46 | |
2016 | 28 | 3 | |
Prior | 0 | 0 | |
Revolving Loans Amortized Cost Basis | 2 | 1 | |
Total | 542 | 425 | |
Monitor [Member] | Obligations of state and political subdivisions [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
2020 | 0 | 0 | |
2019 | 0 | 933 | |
2018 | 849 | 203 | |
2017 | 189 | 249 | |
2016 | 99 | 0 | |
Prior | 1,763 | 1,898 | |
Revolving Loans Amortized Cost Basis | 0 | 0 | |
Total | 2,900 | 3,283 | |
Special Mention [Member] | Agricultural | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
2020 | 70 | 1,662 | |
2019 | 0 | 11 | |
2018 | 0 | 85 | |
2017 | 0 | 0 | |
2016 | 0 | 7 | |
Prior | 0 | 0 | |
Revolving Loans Amortized Cost Basis | 571 | 2,807 | |
Total | 641 | 4,572 | |
Special Mention [Member] | Commercial and Financial | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
2020 | 597 | 603 | |
2019 | 350 | 525 | |
2018 | 335 | 353 | |
2017 | 161 | 70 | |
2016 | 34 | 102 | |
Prior | 0 | 4 | |
Revolving Loans Amortized Cost Basis | 456 | 174 | |
Total | 1,933 | 1,831 | |
Special Mention [Member] | Real Estate Construction One to Four Family Residential [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
2020 | 984 | 0 | |
2019 | 0 | 0 | |
2018 | 0 | 0 | |
2017 | 0 | 0 | |
2016 | 0 | 0 | |
Prior | 0 | 0 | |
Revolving Loans Amortized Cost Basis | 18,202 | 374 | |
Total | 19,186 | 374 | |
Special Mention [Member] | Real Estate: Construction, land development and commercial [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
2020 | 7,784 | 0 | |
2019 | 3,391 | 0 | |
2018 | 227 | 0 | |
2017 | 6 | 0 | |
2016 | 34 | 0 | |
Prior | 72 | 0 | |
Revolving Loans Amortized Cost Basis | 29,350 | 0 | |
Total | 40,864 | 0 | |
Special Mention [Member] | Real Estate: Mortgage, farmland | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
2020 | 4,185 | 4,031 | |
2019 | 96 | 288 | |
2018 | 208 | 0 | |
2017 | 284 | 0 | |
2016 | 0 | 298 | |
Prior | 28 | 190 | |
Revolving Loans Amortized Cost Basis | 0 | 0 | |
Total | 4,801 | 4,807 | |
Special Mention [Member] | Real Estate: Mortgage, 1 to 4 family first liens [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
2020 | 1,148 | 1,682 | |
2019 | 1,215 | 3,422 | |
2018 | 2,623 | 887 | |
2017 | 1,590 | 962 | |
2016 | 889 | 1,051 | |
Prior | 4,063 | 3,168 | |
Revolving Loans Amortized Cost Basis | 1 | 0 | |
Total | 11,529 | 11,172 | |
Special Mention [Member] | Real Estate: Mortgage, 1 to 4 family junior liens [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
2020 | 55 | 103 | |
2019 | 121 | 489 | |
2018 | 351 | 35 | |
2017 | 64 | 56 | |
2016 | 41 | 42 | |
Prior | 186 | 110 | |
Revolving Loans Amortized Cost Basis | 106 | 142 | |
Total | 924 | 977 | |
Special Mention [Member] | Real Estate: Mortgage, multi-family [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
2020 | 0 | 640 | |
2019 | 0 | 0 | |
2018 | 0 | 820 | |
2017 | 0 | 0 | |
2016 | 0 | 0 | |
Prior | 0 | 0 | |
Revolving Loans Amortized Cost Basis | 0 | 0 | |
Total | 0 | 1,460 | |
Special Mention [Member] | Real Estate: Mortgage, commercial [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
2020 | 536 | 5,791 | |
2019 | 892 | 795 | |
2018 | 465 | 303 | |
2017 | 169 | 0 | |
2016 | 0 | 554 | |
Prior | 245 | 337 | |
Revolving Loans Amortized Cost Basis | 0 | 0 | |
Total | 2,307 | 7,780 | |
Special Mention [Member] | Loans to individuals [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
2020 | 65 | 37 | |
2019 | 60 | 32 | |
2018 | 6 | 29 | |
2017 | 6 | 4 | |
2016 | 1 | 0 | |
Prior | 0 | 0 | |
Revolving Loans Amortized Cost Basis | 1 | 1 | |
Total | 139 | 103 | |
Special Mention [Member] | Obligations of state and political subdivisions [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
2020 | 0 | 0 | |
2019 | 0 | 0 | |
2018 | 0 | 0 | |
2017 | 0 | 0 | |
2016 | 0 | 0 | |
Prior | 0 | 0 | |
Revolving Loans Amortized Cost Basis | 0 | 0 | |
Total | 0 | 0 | |
Substandard [Member] | Agricultural | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
2020 | 750 | 592 | |
2019 | 0 | 69 | |
2018 | 288 | 203 | |
2017 | 60 | 0 | |
2016 | 176 | 0 | |
Prior | 0 | 0 | |
Revolving Loans Amortized Cost Basis | 2,820 | 228 | |
Total | 4,094 | 1,092 | |
Substandard [Member] | Commercial and Financial | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
2020 | 1,043 | 1,092 | |
2019 | 461 | 670 | |
2018 | 0 | 266 | |
2017 | 47 | 54 | |
2016 | 0 | 92 | |
Prior | 0 | 0 | |
Revolving Loans Amortized Cost Basis | 1,988 | 1,988 | |
Total | 3,539 | 4,162 | |
Substandard [Member] | Real Estate Construction One to Four Family Residential [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
2020 | 0 | 111 | |
2019 | 105 | 0 | |
2018 | 0 | 0 | |
2017 | 0 | 0 | |
2016 | 0 | 0 | |
Prior | 0 | 0 | |
Revolving Loans Amortized Cost Basis | 0 | 1 | |
Total | 105 | 112 | |
Substandard [Member] | Real Estate: Construction, land development and commercial [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
2020 | 6,998 | 7,515 | |
2019 | 191 | 298 | |
2018 | 96 | 193 | |
2017 | 0 | 0 | |
2016 | 0 | 0 | |
Prior | 0 | 0 | |
Revolving Loans Amortized Cost Basis | 0 | 0 | |
Total | 7,285 | 8,006 | |
Substandard [Member] | Real Estate: Mortgage, farmland | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
2020 | 2,797 | 1,283 | |
2019 | 0 | 447 | |
2018 | 0 | 291 | |
2017 | 60 | 47 | |
2016 | 336 | 0 | |
Prior | 183 | 199 | |
Revolving Loans Amortized Cost Basis | 0 | 0 | |
Total | 3,376 | 2,267 | |
Substandard [Member] | Real Estate: Mortgage, 1 to 4 family first liens [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
2020 | 414 | 1,571 | |
2019 | 1,916 | 1,261 | |
2018 | 1,798 | 1,129 | |
2017 | 615 | 1,609 | |
2016 | 1,572 | 576 | |
Prior | 4,518 | 6,142 | |
Revolving Loans Amortized Cost Basis | 0 | 1 | |
Total | 10,833 | 12,289 | |
Substandard [Member] | Real Estate: Mortgage, 1 to 4 family junior liens [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
2020 | 49 | 77 | |
2019 | 57 | 209 | |
2018 | 200 | 79 | |
2017 | 100 | 441 | |
2016 | 78 | 74 | |
Prior | 29 | 99 | |
Revolving Loans Amortized Cost Basis | 382 | 545 | |
Total | 895 | 1,524 | |
Substandard [Member] | Real Estate: Mortgage, multi-family [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
2020 | 0 | 12,186 | |
2019 | 0 | 0 | |
2018 | 0 | 0 | |
2017 | 0 | 0 | |
2016 | 0 | 0 | |
Prior | 0 | 5,559 | |
Revolving Loans Amortized Cost Basis | 0 | 0 | |
Total | 0 | 17,745 | |
Substandard [Member] | Real Estate: Mortgage, commercial [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
2020 | 267 | 1,528 | |
2019 | 362 | 1,721 | |
2018 | 1,848 | 0 | |
2017 | 126 | 208 | |
2016 | 194 | 0 | |
Prior | 96 | 102 | |
Revolving Loans Amortized Cost Basis | 2 | 0 | |
Total | 2,895 | 3,559 | |
Substandard [Member] | Loans to individuals [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
2020 | 22 | 12 | |
2019 | 8 | 24 | |
2018 | 6 | 12 | |
2017 | 4 | 0 | |
2016 | 6 | 1 | |
Prior | 0 | 3 | |
Revolving Loans Amortized Cost Basis | 1 | 1 | |
Total | 47 | 53 | |
Substandard [Member] | Obligations of state and political subdivisions [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
2020 | 0 | 0 | |
2019 | 0 | 0 | |
2018 | 0 | 0 | |
2017 | 0 | 0 | |
2016 | 0 | 0 | |
Prior | 0 | 0 | |
Revolving Loans Amortized Cost Basis | 0 | 0 | |
Total | $ 0 | $ 0 |
Loans, Past Due Receivables (De
Loans, Past Due Receivables (Details) $ in Thousands | Sep. 30, 2022 USD ($) | Dec. 31, 2021 USD ($) | Sep. 30, 2021 USD ($) |
Financing Receivable, Past Due [Line Items] | |||
Number of accruing loans past due 90 days or more | 4 | 6 | |
Schedule of past due loans [Abstract] | |||
Financing Receivable, before Allowance for Credit Loss | $ 2,946,395 | $ 2,660,532 | |
Total Loans Receivable | 2,946,121 | 2,660,233 | $ 2,653,861 |
Accruing Loans Past Due 90 Days or More | 393 | 201 | |
Agricultural | |||
Schedule of past due loans [Abstract] | |||
Financing Receivable, before Allowance for Credit Loss | 98,555 | 106,933 | |
Total Loans Receivable | 98,555 | 106,933 | 94,210 |
Accruing Loans Past Due 90 Days or More | 0 | 6 | |
Commercial and Financial | |||
Schedule of past due loans [Abstract] | |||
Financing Receivable, before Allowance for Credit Loss | 248,179 | 222,002 | |
Total Loans Receivable | 248,179 | 222,002 | 228,181 |
Accruing Loans Past Due 90 Days or More | 0 | 91 | |
Real Estate Construction One to Four Family Residential [Member] | |||
Schedule of past due loans [Abstract] | |||
Financing Receivable, before Allowance for Credit Loss | 89,379 | 80,486 | |
Total Loans Receivable | 89,379 | 80,486 | |
Accruing Loans Past Due 90 Days or More | 0 | 0 | |
Real Estate: Construction, land development and commercial [Member] | |||
Schedule of past due loans [Abstract] | |||
Financing Receivable, before Allowance for Credit Loss | 165,431 | 127,021 | |
Total Loans Receivable | 165,431 | 127,021 | |
Accruing Loans Past Due 90 Days or More | 0 | 0 | |
Real Estate: Mortgage, farmland | |||
Schedule of past due loans [Abstract] | |||
Financing Receivable, before Allowance for Credit Loss | 248,103 | 232,744 | |
Total Loans Receivable | 248,103 | 232,744 | $ 241,650 |
Accruing Loans Past Due 90 Days or More | 0 | 0 | |
Real Estate: Mortgage, 1 to 4 family first liens [Member] | |||
Schedule of past due loans [Abstract] | |||
Financing Receivable, before Allowance for Credit Loss | 1,060,888 | 909,564 | |
Total Loans Receivable | 1,060,888 | 909,564 | |
Accruing Loans Past Due 90 Days or More | 386 | 104 | |
Real Estate: Mortgage, 1 to 4 family junior liens [Member] | |||
Schedule of past due loans [Abstract] | |||
Financing Receivable, before Allowance for Credit Loss | 118,326 | 114,342 | |
Total Loans Receivable | 118,326 | 114,342 | |
Accruing Loans Past Due 90 Days or More | 7 | 0 | |
Real Estate: Mortgage, multi-family [Member] | |||
Schedule of past due loans [Abstract] | |||
Financing Receivable, before Allowance for Credit Loss | 435,666 | 382,792 | |
Total Loans Receivable | 435,666 | 382,792 | |
Accruing Loans Past Due 90 Days or More | 0 | 0 | |
Real Estate: Mortgage, commercial [Member] | |||
Schedule of past due loans [Abstract] | |||
Financing Receivable, before Allowance for Credit Loss | 397,048 | 401,377 | |
Total Loans Receivable | 397,048 | 401,377 | |
Accruing Loans Past Due 90 Days or More | 0 | 0 | |
Loans to individuals [Member] | |||
Schedule of past due loans [Abstract] | |||
Financing Receivable, before Allowance for Credit Loss | 35,355 | 32,687 | |
Total Loans Receivable | 35,355 | 32,687 | |
Accruing Loans Past Due 90 Days or More | 0 | 0 | |
State and political subdivisions [Member] | |||
Schedule of past due loans [Abstract] | |||
Financing Receivable, before Allowance for Credit Loss | 49,191 | 50,285 | |
Total Loans Receivable | 49,191 | 50,285 | |
Accruing Loans Past Due 90 Days or More | 0 | 0 | |
30 - 59 Days Past Due [Member] | |||
Schedule of past due loans [Abstract] | |||
Financing Receivable, before Allowance for Credit Loss | 8,635 | 8,322 | |
30 - 59 Days Past Due [Member] | Agricultural | |||
Schedule of past due loans [Abstract] | |||
Financing Receivable, before Allowance for Credit Loss | 202 | 41 | |
30 - 59 Days Past Due [Member] | Commercial and Financial | |||
Schedule of past due loans [Abstract] | |||
Financing Receivable, before Allowance for Credit Loss | 701 | 300 | |
30 - 59 Days Past Due [Member] | Real Estate Construction One to Four Family Residential [Member] | |||
Schedule of past due loans [Abstract] | |||
Financing Receivable, before Allowance for Credit Loss | 3,428 | 276 | |
30 - 59 Days Past Due [Member] | Real Estate: Construction, land development and commercial [Member] | |||
Schedule of past due loans [Abstract] | |||
Financing Receivable, before Allowance for Credit Loss | 151 | 194 | |
30 - 59 Days Past Due [Member] | Real Estate: Mortgage, farmland | |||
Schedule of past due loans [Abstract] | |||
Financing Receivable, before Allowance for Credit Loss | 118 | 503 | |
30 - 59 Days Past Due [Member] | Real Estate: Mortgage, 1 to 4 family first liens [Member] | |||
Schedule of past due loans [Abstract] | |||
Financing Receivable, before Allowance for Credit Loss | 842 | 5,085 | |
30 - 59 Days Past Due [Member] | Real Estate: Mortgage, 1 to 4 family junior liens [Member] | |||
Schedule of past due loans [Abstract] | |||
Financing Receivable, before Allowance for Credit Loss | 53 | 246 | |
30 - 59 Days Past Due [Member] | Real Estate: Mortgage, multi-family [Member] | |||
Schedule of past due loans [Abstract] | |||
Financing Receivable, before Allowance for Credit Loss | 0 | 640 | |
30 - 59 Days Past Due [Member] | Real Estate: Mortgage, commercial [Member] | |||
Schedule of past due loans [Abstract] | |||
Financing Receivable, before Allowance for Credit Loss | 2,949 | 466 | |
30 - 59 Days Past Due [Member] | Loans to individuals [Member] | |||
Schedule of past due loans [Abstract] | |||
Financing Receivable, before Allowance for Credit Loss | 191 | 177 | |
30 - 59 Days Past Due [Member] | State and political subdivisions [Member] | |||
Schedule of past due loans [Abstract] | |||
Financing Receivable, before Allowance for Credit Loss | 0 | 394 | |
60 - 89 Days Past Due [Member] | |||
Schedule of past due loans [Abstract] | |||
Financing Receivable, before Allowance for Credit Loss | 3,353 | 1,896 | |
60 - 89 Days Past Due [Member] | Agricultural | |||
Schedule of past due loans [Abstract] | |||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 | |
60 - 89 Days Past Due [Member] | Commercial and Financial | |||
Schedule of past due loans [Abstract] | |||
Financing Receivable, before Allowance for Credit Loss | 618 | 537 | |
60 - 89 Days Past Due [Member] | Real Estate Construction One to Four Family Residential [Member] | |||
Schedule of past due loans [Abstract] | |||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 | |
60 - 89 Days Past Due [Member] | Real Estate: Construction, land development and commercial [Member] | |||
Schedule of past due loans [Abstract] | |||
Financing Receivable, before Allowance for Credit Loss | 56 | 66 | |
60 - 89 Days Past Due [Member] | Real Estate: Mortgage, farmland | |||
Schedule of past due loans [Abstract] | |||
Financing Receivable, before Allowance for Credit Loss | 0 | 362 | |
60 - 89 Days Past Due [Member] | Real Estate: Mortgage, 1 to 4 family first liens [Member] | |||
Schedule of past due loans [Abstract] | |||
Financing Receivable, before Allowance for Credit Loss | 2,423 | 864 | |
60 - 89 Days Past Due [Member] | Real Estate: Mortgage, 1 to 4 family junior liens [Member] | |||
Schedule of past due loans [Abstract] | |||
Financing Receivable, before Allowance for Credit Loss | 30 | 41 | |
60 - 89 Days Past Due [Member] | Real Estate: Mortgage, multi-family [Member] | |||
Schedule of past due loans [Abstract] | |||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 | |
60 - 89 Days Past Due [Member] | Real Estate: Mortgage, commercial [Member] | |||
Schedule of past due loans [Abstract] | |||
Financing Receivable, before Allowance for Credit Loss | 181 | 0 | |
60 - 89 Days Past Due [Member] | Loans to individuals [Member] | |||
Schedule of past due loans [Abstract] | |||
Financing Receivable, before Allowance for Credit Loss | 45 | 26 | |
60 - 89 Days Past Due [Member] | State and political subdivisions [Member] | |||
Schedule of past due loans [Abstract] | |||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 | |
90 Days or More Past Due [Member] | |||
Schedule of past due loans [Abstract] | |||
Financing Receivable, before Allowance for Credit Loss | 3,872 | 4,222 | |
90 Days or More Past Due [Member] | Agricultural | |||
Schedule of past due loans [Abstract] | |||
Financing Receivable, before Allowance for Credit Loss | 0 | 219 | |
90 Days or More Past Due [Member] | Commercial and Financial | |||
Schedule of past due loans [Abstract] | |||
Financing Receivable, before Allowance for Credit Loss | 6 | 468 | |
90 Days or More Past Due [Member] | Real Estate Construction One to Four Family Residential [Member] | |||
Schedule of past due loans [Abstract] | |||
Financing Receivable, before Allowance for Credit Loss | 105 | 0 | |
90 Days or More Past Due [Member] | Real Estate: Construction, land development and commercial [Member] | |||
Schedule of past due loans [Abstract] | |||
Financing Receivable, before Allowance for Credit Loss | 287 | 96 | |
90 Days or More Past Due [Member] | Real Estate: Mortgage, farmland | |||
Schedule of past due loans [Abstract] | |||
Financing Receivable, before Allowance for Credit Loss | 60 | 0 | |
90 Days or More Past Due [Member] | Real Estate: Mortgage, 1 to 4 family first liens [Member] | |||
Schedule of past due loans [Abstract] | |||
Financing Receivable, before Allowance for Credit Loss | 2,253 | 2,481 | |
90 Days or More Past Due [Member] | Real Estate: Mortgage, 1 to 4 family junior liens [Member] | |||
Schedule of past due loans [Abstract] | |||
Financing Receivable, before Allowance for Credit Loss | 16 | 124 | |
90 Days or More Past Due [Member] | Real Estate: Mortgage, multi-family [Member] | |||
Schedule of past due loans [Abstract] | |||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 | |
90 Days or More Past Due [Member] | Real Estate: Mortgage, commercial [Member] | |||
Schedule of past due loans [Abstract] | |||
Financing Receivable, before Allowance for Credit Loss | 1,145 | 829 | |
90 Days or More Past Due [Member] | Loans to individuals [Member] | |||
Schedule of past due loans [Abstract] | |||
Financing Receivable, before Allowance for Credit Loss | 0 | 5 | |
90 Days or More Past Due [Member] | State and political subdivisions [Member] | |||
Schedule of past due loans [Abstract] | |||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 | |
Financial Asset, Past Due | |||
Schedule of past due loans [Abstract] | |||
Financing Receivable, before Allowance for Credit Loss | 15,860 | 14,440 | |
Financial Asset, Past Due | Agricultural | |||
Schedule of past due loans [Abstract] | |||
Financing Receivable, before Allowance for Credit Loss | 202 | 260 | |
Financial Asset, Past Due | Commercial and Financial | |||
Schedule of past due loans [Abstract] | |||
Financing Receivable, before Allowance for Credit Loss | 1,325 | 1,305 | |
Financial Asset, Past Due | Real Estate Construction One to Four Family Residential [Member] | |||
Schedule of past due loans [Abstract] | |||
Financing Receivable, before Allowance for Credit Loss | 3,533 | 276 | |
Financial Asset, Past Due | Real Estate: Construction, land development and commercial [Member] | |||
Schedule of past due loans [Abstract] | |||
Financing Receivable, before Allowance for Credit Loss | 494 | 356 | |
Financial Asset, Past Due | Real Estate: Mortgage, farmland | |||
Schedule of past due loans [Abstract] | |||
Financing Receivable, before Allowance for Credit Loss | 178 | 865 | |
Financial Asset, Past Due | Real Estate: Mortgage, 1 to 4 family first liens [Member] | |||
Schedule of past due loans [Abstract] | |||
Financing Receivable, before Allowance for Credit Loss | 5,518 | 8,430 | |
Financial Asset, Past Due | Real Estate: Mortgage, 1 to 4 family junior liens [Member] | |||
Schedule of past due loans [Abstract] | |||
Financing Receivable, before Allowance for Credit Loss | 99 | 411 | |
Financial Asset, Past Due | Real Estate: Mortgage, multi-family [Member] | |||
Schedule of past due loans [Abstract] | |||
Financing Receivable, before Allowance for Credit Loss | 0 | 640 | |
Financial Asset, Past Due | Real Estate: Mortgage, commercial [Member] | |||
Schedule of past due loans [Abstract] | |||
Financing Receivable, before Allowance for Credit Loss | 4,275 | 1,295 | |
Financial Asset, Past Due | Loans to individuals [Member] | |||
Schedule of past due loans [Abstract] | |||
Financing Receivable, before Allowance for Credit Loss | 236 | 208 | |
Financial Asset, Past Due | State and political subdivisions [Member] | |||
Schedule of past due loans [Abstract] | |||
Financing Receivable, before Allowance for Credit Loss | 0 | 394 | |
Financial Asset, Not Past Due | |||
Schedule of past due loans [Abstract] | |||
Financing Receivable, before Allowance for Credit Loss | 2,930,261 | 2,645,793 | |
Financial Asset, Not Past Due | Agricultural | |||
Schedule of past due loans [Abstract] | |||
Financing Receivable, before Allowance for Credit Loss | 98,353 | 106,673 | |
Financial Asset, Not Past Due | Commercial and Financial | |||
Schedule of past due loans [Abstract] | |||
Financing Receivable, before Allowance for Credit Loss | 246,854 | 220,697 | |
Financial Asset, Not Past Due | Real Estate Construction One to Four Family Residential [Member] | |||
Schedule of past due loans [Abstract] | |||
Financing Receivable, before Allowance for Credit Loss | 85,846 | 80,210 | |
Financial Asset, Not Past Due | Real Estate: Construction, land development and commercial [Member] | |||
Schedule of past due loans [Abstract] | |||
Financing Receivable, before Allowance for Credit Loss | 164,937 | 126,665 | |
Financial Asset, Not Past Due | Real Estate: Mortgage, farmland | |||
Schedule of past due loans [Abstract] | |||
Financing Receivable, before Allowance for Credit Loss | 247,925 | 231,879 | |
Financial Asset, Not Past Due | Real Estate: Mortgage, 1 to 4 family first liens [Member] | |||
Schedule of past due loans [Abstract] | |||
Financing Receivable, before Allowance for Credit Loss | 1,055,370 | 901,134 | |
Financial Asset, Not Past Due | Real Estate: Mortgage, 1 to 4 family junior liens [Member] | |||
Schedule of past due loans [Abstract] | |||
Financing Receivable, before Allowance for Credit Loss | 118,227 | 113,931 | |
Financial Asset, Not Past Due | Real Estate: Mortgage, multi-family [Member] | |||
Schedule of past due loans [Abstract] | |||
Financing Receivable, before Allowance for Credit Loss | 435,666 | 382,152 | |
Financial Asset, Not Past Due | Real Estate: Mortgage, commercial [Member] | |||
Schedule of past due loans [Abstract] | |||
Financing Receivable, before Allowance for Credit Loss | 392,773 | 400,082 | |
Financial Asset, Not Past Due | Loans to individuals [Member] | |||
Schedule of past due loans [Abstract] | |||
Financing Receivable, before Allowance for Credit Loss | 35,119 | 32,479 | |
Financial Asset, Not Past Due | State and political subdivisions [Member] | |||
Schedule of past due loans [Abstract] | |||
Financing Receivable, before Allowance for Credit Loss | $ 49,191 | $ 49,891 |
Loans, Impaired Financing Recei
Loans, Impaired Financing Receivable Loan Type (Details) $ in Thousands | 9 Months Ended | |
Sep. 30, 2022 USD ($) | Dec. 31, 2021 USD ($) | |
Summary of certain impaired loan information [Abstract] | ||
Non-accrual loans | $ 7,765 | $ 8,491 |
Accruing loans past due 90 days or more | 393 | 201 |
TDR loans | 5,509 | $ 7,921 |
Decrease accruing loans past due 90 days or more | $ 190 | |
Number of accruing loans past due 90 days or more | 4 | 6 |
Average 90 days or more past due loan balance | $ 980 | $ 30 |
Agricultural | ||
Summary of certain impaired loan information [Abstract] | ||
Non-accrual loans | 0 | 221 |
Accruing loans past due 90 days or more | 0 | 6 |
TDR loans | 23 | 374 |
Commercial and financial [Member] | ||
Summary of certain impaired loan information [Abstract] | ||
Non-accrual loans | 678 | 707 |
Accruing loans past due 90 days or more | 0 | 91 |
TDR loans | 675 | 1,085 |
Real Estate Construction One to Four Family Residential [Member] | ||
Summary of certain impaired loan information [Abstract] | ||
Non-accrual loans | 105 | 111 |
Accruing loans past due 90 days or more | 0 | 0 |
TDR loans | 0 | 0 |
Real Estate: Construction, land development and commercial [Member] | ||
Summary of certain impaired loan information [Abstract] | ||
Non-accrual loans | 287 | 290 |
Accruing loans past due 90 days or more | 0 | 0 |
TDR loans | 0 | 202 |
Real Estate: Mortgage, farmland | ||
Summary of certain impaired loan information [Abstract] | ||
Non-accrual loans | 643 | 251 |
Accruing loans past due 90 days or more | 0 | 0 |
TDR loans | 1,045 | 1,206 |
Real Estate: Mortgage, 1 to 4 family first liens [Member] | ||
Summary of certain impaired loan information [Abstract] | ||
Non-accrual loans | 4,055 | 4,685 |
Accruing loans past due 90 days or more | 386 | 104 |
TDR loans | 1,170 | 1,364 |
Real Estate: Mortgage, 1 to 4 family junior liens [Member] | ||
Summary of certain impaired loan information [Abstract] | ||
Non-accrual loans | 178 | 200 |
Accruing loans past due 90 days or more | 7 | 0 |
TDR loans | 19 | 20 |
Real Estate: Mortgage, multi-family [Member] | ||
Summary of certain impaired loan information [Abstract] | ||
Non-accrual loans | 0 | 0 |
Accruing loans past due 90 days or more | 0 | 0 |
TDR loans | 625 | 1,460 |
Real Estate: Mortgage, commercial [Member] | ||
Summary of certain impaired loan information [Abstract] | ||
Non-accrual loans | 1,819 | 2,026 |
Accruing loans past due 90 days or more | 0 | 0 |
TDR loans | 1,952 | 2,210 |
Loans to individuals [Member] | ||
Summary of certain impaired loan information [Abstract] | ||
Non-accrual loans | 0 | 0 |
Accruing loans past due 90 days or more | 0 | 0 |
TDR loans | 0 | 0 |
Troubled Debt Restructuring [Member] | ||
Summary of certain impaired loan information [Abstract] | ||
TDR Loans included within nonaccrual loans | 3,180 | 2,280 |
Obligations of state and political subdivisions [Member] | ||
Summary of certain impaired loan information [Abstract] | ||
Non-accrual loans | 0 | 0 |
Accruing loans past due 90 days or more | 0 | 0 |
TDR loans | $ 0 | $ 0 |
Loans, Troubled Debt Restructur
Loans, Troubled Debt Restructuring (Details) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended |
Sep. 30, 2022 USD ($) contract | Sep. 30, 2022 USD ($) contract loan | Dec. 31, 2021 USD ($) contract loan | |
Summary of information for TDR loans [Abstract] | |||
Number of contracts | contract | 39 | 50 | |
Recorded investment | $ 8,685 | $ 8,685 | $ 10,197 |
Commitments outstanding | $ 190 | $ 190 | 60 |
Summary of troubled debt restructuring loans were modified [Abstract] | |||
Number of contracts | contract | 0 | 6 | |
Pre-modification recorded investment | $ 0 | $ 1,962 | |
Post-modification recorded investment | 0 | 1,962 | |
Allowance for TDR loans | 360 | 360 | |
Commitments to lend additional borrowings | $ 190 | $ 190 | $ 60 |
Number of TDR loans default payment | loan | 0 | 0 | |
COVID-19 Related | |||
Summary of troubled debt restructuring loans were modified [Abstract] | |||
Financing Receivable, Modifications, Principal Deferred, Number Of Loans | loan | 16 | 16 | |
Financing Receivable, Modifications, Principal Deferred | $ 7,400 | $ 9,400 | |
Financing Receivable, Modifications, Payment Deferrals At Period End, Total Loans, Percent | 0.03% | 0.03% | 0.12% |
Agricultural | |||
Summary of information for TDR loans [Abstract] | |||
Number of contracts | contract | 1 | 4 | |
Recorded investment | $ 23 | $ 23 | $ 586 |
Commitments outstanding | $ 140 | $ 140 | $ 0 |
Summary of troubled debt restructuring loans were modified [Abstract] | |||
Number of contracts | contract | 0 | 0 | |
Pre-modification recorded investment | $ 0 | $ 0 | |
Post-modification recorded investment | 0 | $ 0 | |
Commercial and Financial | |||
Summary of information for TDR loans [Abstract] | |||
Number of contracts | contract | 11 | 12 | |
Recorded investment | 1,324 | $ 1,324 | $ 1,116 |
Commitments outstanding | $ 50 | $ 50 | $ 60 |
Summary of troubled debt restructuring loans were modified [Abstract] | |||
Number of contracts | contract | 0 | 1 | |
Pre-modification recorded investment | $ 0 | $ 371 | |
Post-modification recorded investment | 0 | $ 371 | |
Real Estate Construction One to Four Family Residential [Member] | |||
Summary of information for TDR loans [Abstract] | |||
Number of contracts | contract | 1 | 0 | |
Recorded investment | 105 | $ 105 | $ 0 |
Commitments outstanding | $ 0 | $ 0 | $ 0 |
Summary of troubled debt restructuring loans were modified [Abstract] | |||
Number of contracts | contract | 0 | 1 | |
Pre-modification recorded investment | $ 0 | $ 105 | |
Post-modification recorded investment | 0 | $ 105 | |
Real Estate: Construction, land development and commercial [Member] | |||
Summary of information for TDR loans [Abstract] | |||
Number of contracts | contract | 1 | 1 | |
Recorded investment | 191 | $ 191 | $ 202 |
Commitments outstanding | $ 0 | $ 0 | $ 0 |
Summary of troubled debt restructuring loans were modified [Abstract] | |||
Number of contracts | contract | 0 | 1 | |
Pre-modification recorded investment | $ 0 | $ 191 | |
Post-modification recorded investment | 0 | $ 191 | |
Real Estate: Mortgage, farmland | |||
Summary of information for TDR loans [Abstract] | |||
Number of contracts | contract | 4 | 5 | |
Recorded investment | 1,584 | $ 1,584 | $ 1,409 |
Commitments outstanding | $ 0 | $ 0 | $ 0 |
Summary of troubled debt restructuring loans were modified [Abstract] | |||
Number of contracts | contract | 0 | 2 | |
Pre-modification recorded investment | $ 0 | $ 1,021 | |
Post-modification recorded investment | 0 | $ 1,021 | |
Real Estate: Mortgage, 1 to 4 family first liens [Member] | |||
Summary of information for TDR loans [Abstract] | |||
Number of contracts | contract | 8 | 14 | |
Recorded investment | 1,170 | $ 1,170 | $ 1,441 |
Commitments outstanding | $ 0 | $ 0 | $ 0 |
Summary of troubled debt restructuring loans were modified [Abstract] | |||
Number of contracts | contract | 0 | 0 | |
Pre-modification recorded investment | $ 0 | $ 0 | |
Post-modification recorded investment | 0 | $ 0 | |
Real Estate: Mortgage, 1 to 4 family junior liens [Member] | |||
Summary of information for TDR loans [Abstract] | |||
Number of contracts | contract | 1 | 1 | |
Recorded investment | 19 | $ 19 | $ 20 |
Commitments outstanding | $ 0 | $ 0 | $ 0 |
Summary of troubled debt restructuring loans were modified [Abstract] | |||
Number of contracts | contract | 0 | 0 | |
Pre-modification recorded investment | $ 0 | $ 0 | |
Post-modification recorded investment | 0 | $ 0 | |
Real Estate: Mortgage, multi-family [Member] | |||
Summary of information for TDR loans [Abstract] | |||
Number of contracts | contract | 1 | 2 | |
Recorded investment | 625 | $ 625 | $ 1,460 |
Commitments outstanding | $ 0 | $ 0 | $ 0 |
Summary of troubled debt restructuring loans were modified [Abstract] | |||
Number of contracts | contract | 0 | 0 | |
Pre-modification recorded investment | $ 0 | $ 0 | |
Post-modification recorded investment | 0 | $ 0 | |
Real Estate: Mortgage, commercial [Member] | |||
Summary of information for TDR loans [Abstract] | |||
Number of contracts | contract | 11 | 11 | |
Recorded investment | 3,644 | $ 3,644 | $ 3,963 |
Commitments outstanding | $ 0 | $ 0 | $ 0 |
Summary of troubled debt restructuring loans were modified [Abstract] | |||
Number of contracts | contract | 0 | 1 | |
Pre-modification recorded investment | $ 0 | $ 274 | |
Post-modification recorded investment | 0 | $ 274 | |
Loans to individuals [Member] | |||
Summary of information for TDR loans [Abstract] | |||
Number of contracts | contract | 0 | 0 | |
Recorded investment | 0 | $ 0 | $ 0 |
Commitments outstanding | $ 0 | $ 0 | $ 0 |
Summary of troubled debt restructuring loans were modified [Abstract] | |||
Number of contracts | contract | 0 | 0 | |
Pre-modification recorded investment | $ 0 | $ 0 | |
Post-modification recorded investment | 0 | $ 0 | |
Obligations of state and political subdivisions [Member] | |||
Summary of information for TDR loans [Abstract] | |||
Number of contracts | contract | 0 | 0 | |
Recorded investment | 0 | $ 0 | $ 0 |
Commitments outstanding | $ 0 | $ 0 | $ 0 |
Summary of troubled debt restructuring loans were modified [Abstract] | |||
Number of contracts | contract | 0 | 0 | |
Pre-modification recorded investment | $ 0 | $ 0 | |
Post-modification recorded investment | $ 0 | $ 0 |
Loans, Collateral Dependent Loa
Loans, Collateral Dependent Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Jun. 30, 2022 | Dec. 31, 2021 | Sep. 30, 2021 | Jun. 30, 2021 | Jan. 01, 2021 | Dec. 31, 2020 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, before Allowance for Credit Loss | $ 2,946,395 | $ 2,660,532 | |||||
ACL Allocation | 38,980 | $ 38,260 | 35,470 | $ 35,590 | $ 35,940 | $ 37,070 | $ 37,070 |
Real Estate [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, before Allowance for Credit Loss | 13,754,000 | 16,468,000 | |||||
Accounts Receivable [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 | |||||
Equipment [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, before Allowance for Credit Loss | 263,000 | 165,000 | |||||
Other Collateral [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 | |||||
Total [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, before Allowance for Credit Loss | 14,017,000 | 16,633,000 | |||||
ACL Allocation | 704,000 | 384,000 | |||||
Agricultural | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, before Allowance for Credit Loss | 98,555 | 106,933 | |||||
ACL Allocation | 2,470 | 2,265 | 2,261 | 2,118 | 2,055 | 2,508 | |
Agricultural | Real Estate [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, before Allowance for Credit Loss | 552,000 | 734,000 | |||||
Agricultural | Accounts Receivable [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 | |||||
Agricultural | Equipment [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, before Allowance for Credit Loss | 0 | 54,000 | |||||
Agricultural | Other Collateral [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 | |||||
Agricultural | Total [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, before Allowance for Credit Loss | 552,000 | 788,000 | |||||
ACL Allocation | 295,000 | 1,000 | |||||
Commercial and Financial | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, before Allowance for Credit Loss | 248,179 | 222,002 | |||||
ACL Allocation | 5,196 | 5,194 | 4,269 | 4,348 | 4,802 | 4,885 | |
Commercial and Financial | Real Estate [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, before Allowance for Credit Loss | 1,271,000 | 1,951,000 | |||||
Commercial and Financial | Accounts Receivable [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 | |||||
Commercial and Financial | Equipment [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, before Allowance for Credit Loss | 83,000 | 111,000 | |||||
Commercial and Financial | Other Collateral [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 | |||||
Commercial and Financial | Total [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, before Allowance for Credit Loss | 1,354,000 | 2,062,000 | |||||
ACL Allocation | 4,000 | 189,000 | |||||
Real Estate Construction One to Four Family Residential [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, before Allowance for Credit Loss | 89,379 | 80,486 | |||||
Real Estate Construction One to Four Family Residential [Member] | Real Estate [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, before Allowance for Credit Loss | 105,000 | 111,000 | |||||
Real Estate Construction One to Four Family Residential [Member] | Accounts Receivable [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 | |||||
Real Estate Construction One to Four Family Residential [Member] | Equipment [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 | |||||
Real Estate Construction One to Four Family Residential [Member] | Other Collateral [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 | |||||
Real Estate Construction One to Four Family Residential [Member] | Total [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, before Allowance for Credit Loss | 105,000 | 111,000 | |||||
ACL Allocation | 55,000 | 111,000 | |||||
Real Estate: Construction, land development and commercial [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, before Allowance for Credit Loss | 165,431 | 127,021 | |||||
Real Estate: Construction, land development and commercial [Member] | Real Estate [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, before Allowance for Credit Loss | 287,000 | 492,000 | |||||
Real Estate: Construction, land development and commercial [Member] | Accounts Receivable [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 | |||||
Real Estate: Construction, land development and commercial [Member] | Equipment [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 | |||||
Real Estate: Construction, land development and commercial [Member] | Other Collateral [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 | |||||
Real Estate: Construction, land development and commercial [Member] | Total [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, before Allowance for Credit Loss | 287,000 | 492,000 | |||||
ACL Allocation | 0 | 13,000 | |||||
Real Estate: Mortgage, farmland | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, before Allowance for Credit Loss | 248,103 | 232,744 | |||||
ACL Allocation | 2,862 | $ 3,330 | 3,433 | $ 4,663 | $ 4,904 | $ 4,173 | |
Real Estate: Mortgage, farmland | Real Estate [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, before Allowance for Credit Loss | 1,507,000 | 1,277,000 | |||||
Real Estate: Mortgage, farmland | Accounts Receivable [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 | |||||
Real Estate: Mortgage, farmland | Equipment [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, before Allowance for Credit Loss | 180,000 | 0 | |||||
Real Estate: Mortgage, farmland | Other Collateral [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 | |||||
Real Estate: Mortgage, farmland | Total [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, before Allowance for Credit Loss | 1,687,000 | 1,277,000 | |||||
ACL Allocation | 0 | 0 | |||||
Real Estate: Mortgage, 1 to 4 family first liens [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, before Allowance for Credit Loss | 1,060,888 | 909,564 | |||||
Real Estate: Mortgage, 1 to 4 family first liens [Member] | Real Estate [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, before Allowance for Credit Loss | 5,433,000 | 5,967,000 | |||||
Real Estate: Mortgage, 1 to 4 family first liens [Member] | Accounts Receivable [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 | |||||
Real Estate: Mortgage, 1 to 4 family first liens [Member] | Equipment [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 | |||||
Real Estate: Mortgage, 1 to 4 family first liens [Member] | Other Collateral [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 | |||||
Real Estate: Mortgage, 1 to 4 family first liens [Member] | Total [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, before Allowance for Credit Loss | 5,433,000 | 5,967,000 | |||||
ACL Allocation | 40,000 | 31,000 | |||||
Real Estate: Mortgage, 1 to 4 family junior liens [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, before Allowance for Credit Loss | 118,326 | 114,342 | |||||
Real Estate: Mortgage, 1 to 4 family junior liens [Member] | Real Estate [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, before Allowance for Credit Loss | 204,000 | 220,000 | |||||
Real Estate: Mortgage, 1 to 4 family junior liens [Member] | Accounts Receivable [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 | |||||
Real Estate: Mortgage, 1 to 4 family junior liens [Member] | Equipment [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 | |||||
Real Estate: Mortgage, 1 to 4 family junior liens [Member] | Other Collateral [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 | |||||
Real Estate: Mortgage, 1 to 4 family junior liens [Member] | Total [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, before Allowance for Credit Loss | 204,000 | 220,000 | |||||
ACL Allocation | 2,000 | 18,000 | |||||
Real Estate: Mortgage, multi-family [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, before Allowance for Credit Loss | 435,666 | 382,792 | |||||
Real Estate: Mortgage, multi-family [Member] | Real Estate [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, before Allowance for Credit Loss | 625,000 | 1,460,000 | |||||
Real Estate: Mortgage, multi-family [Member] | Accounts Receivable [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 | |||||
Real Estate: Mortgage, multi-family [Member] | Equipment [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 | |||||
Real Estate: Mortgage, multi-family [Member] | Other Collateral [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 | |||||
Real Estate: Mortgage, multi-family [Member] | Total [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, before Allowance for Credit Loss | 625,000 | 1,460,000 | |||||
ACL Allocation | 0 | 0 | |||||
Real Estate: Mortgage, commercial [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, before Allowance for Credit Loss | 397,048 | 401,377 | |||||
Real Estate: Mortgage, commercial [Member] | Real Estate [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, before Allowance for Credit Loss | 3,770,000 | 4,236,000 | |||||
Real Estate: Mortgage, commercial [Member] | Accounts Receivable [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 | |||||
Real Estate: Mortgage, commercial [Member] | Equipment [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 | |||||
Real Estate: Mortgage, commercial [Member] | Other Collateral [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 | |||||
Real Estate: Mortgage, commercial [Member] | Total [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, before Allowance for Credit Loss | 3,770,000 | 4,236,000 | |||||
ACL Allocation | 308,000 | 1,000 | |||||
Loans to individuals [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, before Allowance for Credit Loss | 35,355 | 32,687 | |||||
Loans to individuals [Member] | Real Estate [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, before Allowance for Credit Loss | 0 | 20,000 | |||||
Loans to individuals [Member] | Accounts Receivable [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 | |||||
Loans to individuals [Member] | Equipment [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 | |||||
Loans to individuals [Member] | Other Collateral [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 | |||||
Loans to individuals [Member] | Total [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, before Allowance for Credit Loss | 0 | 20,000 | |||||
ACL Allocation | 0 | 20,000 | |||||
Obligations of state and political subdivisions [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, before Allowance for Credit Loss | 49,191 | 50,285 | |||||
Obligations of state and political subdivisions [Member] | Real Estate [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 | |||||
Obligations of state and political subdivisions [Member] | Accounts Receivable [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 | |||||
Obligations of state and political subdivisions [Member] | Equipment [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 | |||||
Obligations of state and political subdivisions [Member] | Other Collateral [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 | |||||
Obligations of state and political subdivisions [Member] | Total [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 | |||||
ACL Allocation | $ 0 | $ 0 |
Loans, Impaired Financing Rec_2
Loans, Impaired Financing Receivables Activity (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2022 | Dec. 31, 2021 | |
Summary of Information regarding impaired loans [Abstract] | ||
Decrease in impaired loans | $ 2,620 | |
Percentages of impaired loans to loans held for investment (in hundredths) | 0.48% | 0.63% |
Decrease in TDR loans | $ 1,510 | |
Decrease in nonaccrual loans | 730 | |
Increase (Decrease) accruing loans past days or more financing receivable unpaid principal balance | $ 190 | |
Prior period within which impairment is being measured | 1 year | |
Number of period within which average appraisals obtained | 1 month | |
Financing Receivable, Allowance for Credit Losses, change due to individually analyzed loans reserve | $ 340 | |
Financing Receivable, Allowance for Credit Losses, change due to qualitative factors | $ 570 |
Leases (Details)
Leases (Details) - USD ($) $ in Thousands | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2021 | |
Lessee, Lease, Description [Line Items] | |||
Operating lease, renewal term | 10 years | ||
Operating lease, option to termination term | 1 year | ||
Operating lease expense | $ 440 | $ 440 | |
Operating lease cost | 380 | 370 | |
Short-term lease cost | 30 | 30 | |
Variable lease cost | 30 | 40 | |
Operating lease payments | 380 | $ 380 | |
Operating lease, right-of-use asset | 2,210 | $ 2,470 | |
Total operating lease liabilities | $ 2,291 | $ 2,530 | |
Weighted average remaining lease term | 9 years 8 months 19 days | 9 years 11 months 8 days | |
Weighted average discount rate | 3.52% | 3.49% | |
Minimum [Member] | |||
Lessee, Lease, Description [Line Items] | |||
Operating lease, term | 1 year | ||
Maximum [Member] | |||
Lessee, Lease, Description [Line Items] | |||
Operating lease, term | 15 years |
Leases - Minimum Future Rental
Leases - Minimum Future Rental Commitments, Topic 842 (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Leases [Abstract] | ||
2022 (excluding the nine months ended September 30, 2022) | $ 118 | |
2023 | 327 | |
2024 | 260 | |
2025 | 263 | |
2026 | 266 | |
Thereafter | 1,503 | |
Total lease payments | 2,737 | |
Less imputed interest | (446) | |
Total operating lease liabilities | $ 2,291 | $ 2,530 |
Fair Value Measurements (Detail
Fair Value Measurements (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Deposits | ||
Other borrowings | $ 0 | $ 249 |
Readily Available Market Prices [Member] | ||
Financial instrument assets: | ||
Cash and cash equivalents | 242,121 | 781,918 |
Investment securities | 449,393 | 243,925 |
Loans held for sale | 0 | 0 |
Loans, net of allowance for credit losses | ||
Agricultural | 0 | 0 |
Commercial and financial | 0 | 0 |
Real estate: | ||
Construction, 1 to 4 family residential | 0 | 0 |
Construction, land development and commercial | 0 | 0 |
Mortgage, farmland | 0 | 0 |
Mortgage, 1 to 4 family first liens | 0 | 0 |
Mortgage, 1 to 4 family junior liens | 0 | 0 |
Mortgage, multi-family | 0 | 0 |
Mortgage, commercial | 0 | 0 |
Loans to individuals | 0 | 0 |
Obligations of state and political subdivisions | 0 | 0 |
Accrued interest receivable | 0 | 0 |
Total financial instrument assets | 691,514 | 1,025,843 |
Deposits | ||
Noninterest-bearing deposits | 0 | 0 |
Interest-bearing deposits | 0 | 0 |
Other borrowings | 0 | |
Federal Home Loan Bank borrowings | 0 | |
Accrued interest payable | 0 | 0 |
Total financial instrument liabilities | 0 | 0 |
Financial instrument with off-balance sheet risk: | ||
Loan commitments | 0 | 0 |
Letters of credit | 0 | 0 |
Total financial instrument liabilities with off-balance-sheet risk | 0 | 0 |
Observable Market Prices [Member] | ||
Financial instrument assets: | ||
Cash and cash equivalents | 0 | 0 |
Investment securities | 298,160 | 311,975 |
Loans held for sale | 2,664 | 5,716 |
Loans, net of allowance for credit losses | ||
Agricultural | 0 | 0 |
Commercial and financial | 0 | 0 |
Real estate: | ||
Construction, 1 to 4 family residential | 0 | 0 |
Construction, land development and commercial | 0 | 0 |
Mortgage, farmland | 0 | 0 |
Mortgage, 1 to 4 family first liens | 0 | 0 |
Mortgage, 1 to 4 family junior liens | 0 | 0 |
Mortgage, multi-family | 0 | 0 |
Mortgage, commercial | 0 | 0 |
Loans to individuals | 0 | 0 |
Obligations of state and political subdivisions | 0 | 0 |
Accrued interest receivable | 14,520 | 11,437 |
Total financial instrument assets | 315,344 | 329,128 |
Deposits | ||
Noninterest-bearing deposits | 696,137 | 633,101 |
Interest-bearing deposits | 2,819,258 | 2,909,243 |
Other borrowings | 249 | |
Federal Home Loan Bank borrowings | 0 | |
Accrued interest payable | 1,056 | 1,165 |
Total financial instrument liabilities | 3,516,451 | 3,543,758 |
Financial instrument with off-balance sheet risk: | ||
Loan commitments | 0 | 0 |
Letters of credit | 0 | 0 |
Total financial instrument liabilities with off-balance-sheet risk | 0 | 0 |
Company Determined Market Prices [Member] | ||
Financial instrument assets: | ||
Cash and cash equivalents | 0 | 0 |
Investment securities | 0 | 0 |
Loans held for sale | 0 | 0 |
Loans, net of allowance for credit losses | ||
Agricultural | 96,082 | 103,745 |
Commercial and financial | 241,017 | 216,466 |
Real estate: | ||
Construction, 1 to 4 family residential | 88,854 | 79,311 |
Construction, land development and commercial | 160,469 | 124,466 |
Mortgage, farmland | 239,221 | 228,365 |
Mortgage, 1 to 4 family first liens | 1,028,672 | 897,255 |
Mortgage, 1 to 4 family junior liens | 113,961 | 110,903 |
Mortgage, multi-family | 423,741 | 378,193 |
Mortgage, commercial | 382,178 | 391,950 |
Loans to individuals | 33,826 | 31,871 |
Obligations of state and political subdivisions | 48,373 | 50,155 |
Accrued interest receivable | 0 | 0 |
Total financial instrument assets | 2,856,394 | 2,612,680 |
Deposits | ||
Noninterest-bearing deposits | 0 | 0 |
Interest-bearing deposits | 0 | 0 |
Other borrowings | 0 | |
Federal Home Loan Bank borrowings | 0 | |
Accrued interest payable | 0 | 0 |
Total financial instrument liabilities | 0 | 0 |
Financial instrument with off-balance sheet risk: | ||
Loan commitments | 0 | 0 |
Letters of credit | 0 | 0 |
Total financial instrument liabilities with off-balance-sheet risk | 0 | 0 |
Carrying Amount [Member] | ||
Financial instrument assets: | ||
Cash and cash equivalents | 242,121 | 781,918 |
Investment securities | 747,553 | 555,900 |
Loans held for sale | 2,664 | 5,716 |
Loans, net of allowance for credit losses | ||
Agricultural | 96,085 | 104,672 |
Commercial and financial | 242,983 | 217,733 |
Real estate: | ||
Construction, 1 to 4 family residential | 88,388 | 79,668 |
Construction, land development and commercial | 162,958 | 125,539 |
Mortgage, farmland | 245,241 | 229,311 |
Mortgage, 1 to 4 family first liens | 1,051,289 | 901,523 |
Mortgage, 1 to 4 family junior liens | 115,414 | 111,184 |
Mortgage, multi-family | 431,237 | 379,077 |
Mortgage, commercial | 390,563 | 394,594 |
Loans to individuals | 34,515 | 31,916 |
Obligations of state and political subdivisions | 48,742 | 49,845 |
Accrued interest receivable | 14,520 | 11,437 |
Total financial instrument assets | 3,914,273 | 3,980,033 |
Deposits | ||
Noninterest-bearing deposits | 696,137 | 633,101 |
Interest-bearing deposits | 2,819,624 | 2,900,893 |
Other borrowings | 249 | |
Federal Home Loan Bank borrowings | 0 | |
Accrued interest payable | 1,056 | 1,165 |
Total financial instrument liabilities | 3,516,817 | 3,535,408 |
Financial instrument with off-balance sheet risk: | ||
Loan commitments | 743,826 | 614,324 |
Letters of credit | 7,026 | 7,179 |
Total financial instrument liabilities with off-balance-sheet risk | 750,852 | 621,503 |
Estimated Fair Value [Member] | ||
Financial instrument assets: | ||
Cash and cash equivalents | 242,121 | 781,918 |
Investment securities | 747,553 | 555,900 |
Loans held for sale | 2,664 | 5,716 |
Loans, net of allowance for credit losses | ||
Agricultural | 96,082 | 103,745 |
Commercial and financial | 241,017 | 216,466 |
Real estate: | ||
Construction, 1 to 4 family residential | 88,854 | 79,311 |
Construction, land development and commercial | 160,469 | 124,466 |
Mortgage, farmland | 239,221 | 228,365 |
Mortgage, 1 to 4 family first liens | 1,028,672 | 897,255 |
Mortgage, 1 to 4 family junior liens | 113,961 | 110,903 |
Mortgage, multi-family | 423,741 | 378,193 |
Mortgage, commercial | 382,178 | 391,950 |
Loans to individuals | 33,826 | 31,871 |
Obligations of state and political subdivisions | 48,373 | 50,155 |
Accrued interest receivable | 14,520 | 11,437 |
Total financial instrument assets | 3,863,252 | 3,967,651 |
Deposits | ||
Noninterest-bearing deposits | 696,137 | 633,101 |
Interest-bearing deposits | 2,819,258 | 2,909,243 |
Other borrowings | 249 | |
Federal Home Loan Bank borrowings | 0 | |
Accrued interest payable | 1,056 | 1,165 |
Total financial instrument liabilities | 3,516,451 | 3,543,758 |
Financial instrument with off-balance sheet risk: | ||
Loan commitments | 0 | 0 |
Letters of credit | 0 | 0 |
Total financial instrument liabilities with off-balance-sheet risk | $ 0 | $ 0 |
Fair Value Measurements, Assets
Fair Value Measurements, Assets and Liabilities Recurring Basis (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Summary of assets and liabilities measured at fair value on a recurring basis [Abstract] | ||
Securities available for sale | $ 747,553 | $ 551,354 |
U.S. Treasury [Member] | ||
Summary of assets and liabilities measured at fair value on a recurring basis [Abstract] | ||
Securities available for sale | 449,393 | 243,925 |
State and political subdivisions [Member] | ||
Summary of assets and liabilities measured at fair value on a recurring basis [Abstract] | ||
Securities available for sale | 216,489 | 263,516 |
Mortgage Backed Securities, Other | ||
Summary of assets and liabilities measured at fair value on a recurring basis [Abstract] | ||
Securities available for sale | 50,094 | 9,446 |
Readily Available Market Prices [Member] | ||
Summary of assets and liabilities measured at fair value on a recurring basis [Abstract] | ||
Total | 691,514 | 1,025,843 |
Observable Market Prices [Member] | ||
Summary of assets and liabilities measured at fair value on a recurring basis [Abstract] | ||
Total | 315,344 | 329,128 |
Company Determined Market Prices [Member] | ||
Summary of assets and liabilities measured at fair value on a recurring basis [Abstract] | ||
Total | 2,856,394 | 2,612,680 |
Recurring Basis [Member] | ||
Summary of assets and liabilities measured at fair value on a recurring basis [Abstract] | ||
Total | 747,553 | 551,354 |
Recurring Basis [Member] | U.S. Treasury [Member] | ||
Summary of assets and liabilities measured at fair value on a recurring basis [Abstract] | ||
Securities available for sale | 449,393 | 243,925 |
Recurring Basis [Member] | State and political subdivisions [Member] | ||
Summary of assets and liabilities measured at fair value on a recurring basis [Abstract] | ||
Securities available for sale | 216,489 | 263,516 |
Recurring Basis [Member] | Mortgage Backed Securities, Other | ||
Summary of assets and liabilities measured at fair value on a recurring basis [Abstract] | ||
Securities available for sale | 50,094 | 9,446 |
Recurring Basis [Member] | Other securities (FHLB, FHLMC and FNMA) [Member] | ||
Summary of assets and liabilities measured at fair value on a recurring basis [Abstract] | ||
Securities available for sale | 31,577 | 34,467 |
Recurring Basis [Member] | Readily Available Market Prices [Member] | ||
Summary of assets and liabilities measured at fair value on a recurring basis [Abstract] | ||
Total | 449,393 | 243,925 |
Recurring Basis [Member] | Readily Available Market Prices [Member] | U.S. Treasury [Member] | ||
Summary of assets and liabilities measured at fair value on a recurring basis [Abstract] | ||
Securities available for sale | 449,393 | 243,925 |
Recurring Basis [Member] | Readily Available Market Prices [Member] | State and political subdivisions [Member] | ||
Summary of assets and liabilities measured at fair value on a recurring basis [Abstract] | ||
Securities available for sale | 0 | 0 |
Recurring Basis [Member] | Readily Available Market Prices [Member] | Mortgage Backed Securities, Other | ||
Summary of assets and liabilities measured at fair value on a recurring basis [Abstract] | ||
Securities available for sale | 0 | 0 |
Recurring Basis [Member] | Readily Available Market Prices [Member] | Other securities (FHLB, FHLMC and FNMA) [Member] | ||
Summary of assets and liabilities measured at fair value on a recurring basis [Abstract] | ||
Securities available for sale | 0 | 0 |
Recurring Basis [Member] | Observable Market Prices [Member] | ||
Summary of assets and liabilities measured at fair value on a recurring basis [Abstract] | ||
Total | 298,160 | 307,429 |
Recurring Basis [Member] | Observable Market Prices [Member] | U.S. Treasury [Member] | ||
Summary of assets and liabilities measured at fair value on a recurring basis [Abstract] | ||
Securities available for sale | 0 | 0 |
Recurring Basis [Member] | Observable Market Prices [Member] | State and political subdivisions [Member] | ||
Summary of assets and liabilities measured at fair value on a recurring basis [Abstract] | ||
Securities available for sale | 216,489 | 263,516 |
Recurring Basis [Member] | Observable Market Prices [Member] | Mortgage Backed Securities, Other | ||
Summary of assets and liabilities measured at fair value on a recurring basis [Abstract] | ||
Securities available for sale | 50,094 | 9,446 |
Recurring Basis [Member] | Observable Market Prices [Member] | Other securities (FHLB, FHLMC and FNMA) [Member] | ||
Summary of assets and liabilities measured at fair value on a recurring basis [Abstract] | ||
Securities available for sale | 31,577 | 34,467 |
Recurring Basis [Member] | Company Determined Market Prices [Member] | ||
Summary of assets and liabilities measured at fair value on a recurring basis [Abstract] | ||
Total | 0 | 0 |
Recurring Basis [Member] | Company Determined Market Prices [Member] | U.S. Treasury [Member] | ||
Summary of assets and liabilities measured at fair value on a recurring basis [Abstract] | ||
Securities available for sale | 0 | 0 |
Recurring Basis [Member] | Company Determined Market Prices [Member] | State and political subdivisions [Member] | ||
Summary of assets and liabilities measured at fair value on a recurring basis [Abstract] | ||
Securities available for sale | 0 | 0 |
Recurring Basis [Member] | Company Determined Market Prices [Member] | Mortgage Backed Securities, Other | ||
Summary of assets and liabilities measured at fair value on a recurring basis [Abstract] | ||
Securities available for sale | 0 | 0 |
Recurring Basis [Member] | Company Determined Market Prices [Member] | Other securities (FHLB, FHLMC and FNMA) [Member] | ||
Summary of assets and liabilities measured at fair value on a recurring basis [Abstract] | ||
Securities available for sale | $ 0 | $ 0 |
Fair Value Measurements, Asse_2
Fair Value Measurements, Assets and Liabilities on a Nonrecurring Basis (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended |
Sep. 30, 2022 | Sep. 30, 2022 | Dec. 31, 2021 | |
Readily Available Market Prices [Member] | |||
Loans, net of allowance for credit losses | |||
Agricultural | $ 0 | $ 0 | $ 0 |
Commercial and financial | 0 | 0 | 0 |
Real Estate [Abstract] | |||
Construction, land development and commercial | 0 | 0 | 0 |
Mortgage, farmland | 0 | 0 | 0 |
Mortgage, 1 to 4 family first liens | 0 | 0 | 0 |
Mortgage, 1 to 4 family junior liens | 0 | 0 | 0 |
Mortgage, multi-family | 0 | 0 | 0 |
Mortgage, commercial | 0 | 0 | 0 |
Loans to individuals | 0 | 0 | 0 |
Total financial instrument assets | 691,514 | 691,514 | 1,025,843 |
Observable Market Prices [Member] | |||
Loans, net of allowance for credit losses | |||
Agricultural | 0 | 0 | 0 |
Commercial and financial | 0 | 0 | 0 |
Real Estate [Abstract] | |||
Construction, land development and commercial | 0 | 0 | 0 |
Mortgage, farmland | 0 | 0 | 0 |
Mortgage, 1 to 4 family first liens | 0 | 0 | 0 |
Mortgage, 1 to 4 family junior liens | 0 | 0 | 0 |
Mortgage, multi-family | 0 | 0 | 0 |
Mortgage, commercial | 0 | 0 | 0 |
Loans to individuals | 0 | 0 | 0 |
Total financial instrument assets | 315,344 | 315,344 | 329,128 |
Company Determined Market Prices [Member] | |||
Loans, net of allowance for credit losses | |||
Agricultural | 96,082 | 96,082 | 103,745 |
Commercial and financial | 241,017 | 241,017 | 216,466 |
Real Estate [Abstract] | |||
Construction, land development and commercial | 160,469 | 160,469 | 124,466 |
Mortgage, farmland | 239,221 | 239,221 | 228,365 |
Mortgage, 1 to 4 family first liens | 1,028,672 | 1,028,672 | 897,255 |
Mortgage, 1 to 4 family junior liens | 113,961 | 113,961 | 110,903 |
Mortgage, multi-family | 423,741 | 423,741 | 378,193 |
Mortgage, commercial | 382,178 | 382,178 | 391,950 |
Loans to individuals | 33,826 | 33,826 | 31,871 |
Total financial instrument assets | 2,856,394 | 2,856,394 | 2,612,680 |
Nonrecurring Basis [Member] | |||
Loans, net of allowance for credit losses | |||
Agricultural | 55 | 55 | 399 |
Commercial and financial | 1,280 | 1,280 | 1,527 |
Real Estate [Abstract] | |||
Construction, 1 to 4 family residential | 50 | 50 | 383 |
Construction, land development and commercial | 287 | 287 | 96 |
Mortgage, farmland | 1,687 | 1,687 | 1,114 |
Mortgage, 1 to 4 family first liens | 5,158 | 5,158 | 5,902 |
Mortgage, 1 to 4 family junior liens | 194 | 194 | 202 |
Mortgage, multi-family | 625 | 625 | 1,460 |
Mortgage, commercial | 3,408 | 3,408 | 4,176 |
Loans to individuals | 0 | 0 | 0 |
Foreclosed assets | 0 | 0 | 0 |
Total financial instrument assets | 12,744 | 12,744 | 15,259 |
Total Losses | 153 | 577 | 476 |
Nonrecurring Basis [Member] | Agricultural | |||
Real Estate [Abstract] | |||
Total Losses | 0 | 0 | 0 |
Nonrecurring Basis [Member] | Commercial and Financial | |||
Real Estate [Abstract] | |||
Total Losses | 0 | 225 | 0 |
Nonrecurring Basis [Member] | Real Estate Construction One to Four Family Residential [Member] | |||
Real Estate [Abstract] | |||
Total Losses | 0 | 0 | 0 |
Nonrecurring Basis [Member] | Real Estate: Construction, land development and commercial [Member] | |||
Real Estate [Abstract] | |||
Total Losses | 0 | 0 | 0 |
Nonrecurring Basis [Member] | Real Estate: Mortgage, farmland | |||
Real Estate [Abstract] | |||
Total Losses | 0 | 104 | 0 |
Nonrecurring Basis [Member] | Real Estate: Mortgage, 1 to 4 family first liens [Member] | |||
Real Estate [Abstract] | |||
Total Losses | 153 | 243 | 212 |
Nonrecurring Basis [Member] | Real Estate: Mortgage, 1 to 4 family junior liens [Member] | |||
Real Estate [Abstract] | |||
Total Losses | 0 | 5 | 9 |
Nonrecurring Basis [Member] | Real Estate: Mortgage, multi-family [Member] | |||
Real Estate [Abstract] | |||
Total Losses | 0 | 0 | 0 |
Nonrecurring Basis [Member] | Real Estate: Mortgage, commercial [Member] | |||
Real Estate [Abstract] | |||
Total Losses | 0 | 0 | 255 |
Nonrecurring Basis [Member] | Loans to individuals [Member] | |||
Real Estate [Abstract] | |||
Total Losses | 0 | 0 | 0 |
Nonrecurring Basis [Member] | Foreclosed assets [Member] | |||
Real Estate [Abstract] | |||
Total Losses | 0 | 0 | 0 |
Nonrecurring Basis [Member] | Readily Available Market Prices [Member] | |||
Loans, net of allowance for credit losses | |||
Agricultural | 0 | 0 | 0 |
Commercial and financial | 0 | 0 | 0 |
Real Estate [Abstract] | |||
Construction, 1 to 4 family residential | 0 | 0 | 0 |
Construction, land development and commercial | 0 | 0 | 0 |
Mortgage, farmland | 0 | 0 | 0 |
Mortgage, 1 to 4 family first liens | 0 | 0 | 0 |
Mortgage, 1 to 4 family junior liens | 0 | 0 | 0 |
Mortgage, multi-family | 0 | 0 | 0 |
Mortgage, commercial | 0 | 0 | 0 |
Loans to individuals | 0 | 0 | 0 |
Foreclosed assets | 0 | 0 | 0 |
Total financial instrument assets | 0 | 0 | 0 |
Nonrecurring Basis [Member] | Observable Market Prices [Member] | |||
Loans, net of allowance for credit losses | |||
Agricultural | 0 | 0 | 0 |
Commercial and financial | 0 | 0 | 0 |
Real Estate [Abstract] | |||
Construction, 1 to 4 family residential | 0 | 0 | 0 |
Construction, land development and commercial | 0 | 0 | 0 |
Mortgage, farmland | 0 | 0 | 0 |
Mortgage, 1 to 4 family first liens | 0 | 0 | 0 |
Mortgage, 1 to 4 family junior liens | 0 | 0 | 0 |
Mortgage, multi-family | 0 | 0 | 0 |
Mortgage, commercial | 0 | 0 | 0 |
Loans to individuals | 0 | 0 | 0 |
Foreclosed assets | 0 | 0 | 0 |
Total financial instrument assets | 0 | 0 | 0 |
Nonrecurring Basis [Member] | Company Determined Market Prices [Member] | |||
Loans, net of allowance for credit losses | |||
Agricultural | 55 | 55 | 399 |
Commercial and financial | 1,280 | 1,280 | 1,527 |
Real Estate [Abstract] | |||
Construction, 1 to 4 family residential | 50 | 50 | 383 |
Construction, land development and commercial | 287 | 287 | 96 |
Mortgage, farmland | 1,687 | 1,687 | 1,114 |
Mortgage, 1 to 4 family first liens | 5,158 | 5,158 | 5,902 |
Mortgage, 1 to 4 family junior liens | 194 | 194 | 202 |
Mortgage, multi-family | 625 | 625 | 1,460 |
Mortgage, commercial | 3,408 | 3,408 | 4,176 |
Loans to individuals | 0 | 0 | 0 |
Foreclosed assets | 0 | 0 | 0 |
Total financial instrument assets | $ 12,744 | $ 12,744 | $ 15,259 |
Stock Repurchase Program (Detai
Stock Repurchase Program (Details) - $ / shares | 3 Months Ended | 9 Months Ended | 206 Months Ended | ||||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Aug. 09, 2022 | Jul. 26, 2005 | |
Equity [Abstract] | |||||||
Maximum number of share authorized to repurchase under the program (in shares) | 1,500,000 | ||||||
Number of additional share authorized to repurchase under the program (in shares) | 750,000 | ||||||
Common stock purchased during the period (in shares) | 7,541 | 19,556 | 68,727 | 49,136 | 1,473,471 | ||
Average price per share (in dollars per share) | $ 71.47 |
Commitments and Contingencies_2
Commitments and Contingencies (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
State and political subdivisions [Member] | ||
Concentration Risk [Line Items] | ||
Investment in securities issued by state and political subdivisions within the state of Iowa | $ 76,680 | |
Home equity loans [Member] | ||
Firm loan commitments and unused portion of lines of credit [Abstract] | ||
Total financial instrument liabilities with off-balance-sheet risk | 86,255 | $ 78,961 |
Credit cards [Member] | ||
Firm loan commitments and unused portion of lines of credit [Abstract] | ||
Total financial instrument liabilities with off-balance-sheet risk | 65,321 | 65,913 |
Commercial, real estate and home construction [Member] | ||
Firm loan commitments and unused portion of lines of credit [Abstract] | ||
Total financial instrument liabilities with off-balance-sheet risk | 240,536 | 170,539 |
Commercial lines and real estate purchase loans [Member] | ||
Firm loan commitments and unused portion of lines of credit [Abstract] | ||
Total financial instrument liabilities with off-balance-sheet risk | 351,714 | 298,911 |
Outstanding letters of credit [Member] | ||
Firm loan commitments and unused portion of lines of credit [Abstract] | ||
Total financial instrument liabilities with off-balance-sheet risk | $ 7,026 | $ 7,179 |
Income Taxes (Details)
Income Taxes (Details) - USD ($) | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2021 | |
Income Tax Examination [Line Items] | |||
Unrecognized tax benefits | $ 0 | $ 0 | |
Interest or penalties on unrecognized tax benefits | 0 | $ 0 | |
Increase in unrecognized tax benefits is reasonably possible | $ 0 | ||
Effective tax rate | 22.70% | 22.58% | |
Effective tax rate, excluding one-time state tax expense | 22.10% | ||
Internal Revenue Service (IRS) [Member] | |||
Income Tax Examination [Line Items] | |||
Income tax examination, years under examination | December 31, 2021, 2020, and 2019 | ||
State and Local Jurisdiction [Member] | |||
Income Tax Examination [Line Items] | |||
Income tax examination, years under examination | December 31, 2021, 2020, and 2019 |