Cover
Cover - shares | 6 Months Ended | |
Jun. 30, 2022 | Aug. 02, 2022 | |
Document Information [Line Items] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Jun. 30, 2022 | |
Document Transition Report | false | |
Entity File Number | 001-39472 | |
Entity Incorporation, State or Country Code | PA | |
Entity Tax Identification Number | 25-1450605 | |
Entity Address, Address Line One | 1 South Second Street | |
Entity Address, Address Line Two | P.O. Box 42 | |
Entity Address, City or Town | Clearfield | |
Entity Address, State or Province | PA | |
Entity Address, Postal Zip Code | 16830 | |
City Area Code | 814 | |
Local Phone Number | 765-9621 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding (in shares) | 16,860,138 | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2022 | |
Document Fiscal Period Focus | Q2 | |
Entity Registrant Name | CNB FINANCIAL CORP/PA | |
Entity Central Index Key | 0000736772 | |
Current Fiscal Year End Date | --12-31 | |
Common Stock | ||
Document Information [Line Items] | ||
Title of 12(b) Security | Common Stock, no par value | |
Trading Symbol | CCNE | |
Security Exchange Name | NASDAQ | |
Series A Preferred Stock | ||
Document Information [Line Items] | ||
Title of 12(b) Security | Depositary Shares (each representing a 1/40th interest in a share of 7.125% Series A Non-Cumulative, perpetual preferred stock) | |
Trading Symbol | CCNEP | |
Security Exchange Name | NASDAQ |
CONDENSED CONSOLIDATED BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
ASSETS | ||
Cash and due from banks | $ 61,585 | $ 42,440 |
Interest-bearing deposits with Federal Reserve | 217,776 | 684,306 |
Interest-bearing deposits with other financial institutions | 4,793 | 5,452 |
Total cash and cash equivalents | 284,154 | 732,198 |
Debt securities available-for-sale, at fair value(amortized cost of $450,904 and $698,085, respectively) | 404,407 | 697,191 |
Debt securities held-to-maturity, at amortized cost (fair value $389,933 and $0, respectively) | 413,310 | 0 |
Equity securities | 9,539 | 10,366 |
Loans held for sale | 843 | 849 |
Loans receivable | 3,909,753 | 3,634,792 |
Less: allowance for credit losses | (40,543) | (37,588) |
Net loans receivable | 3,869,210 | 3,597,204 |
FHLB and other restricted stock holdings and investments | 24,484 | 23,276 |
Premises and equipment, net | 62,990 | 61,659 |
Operating lease right-of-use assets | 25,471 | 19,928 |
Bank owned life insurance | 103,723 | 99,719 |
Mortgage servicing rights | 1,881 | 1,664 |
Goodwill | 43,749 | 43,749 |
Core deposit intangible, net | 410 | 460 |
Accrued interest receivable and other assets | 55,144 | 40,676 |
Total Assets | 5,299,315 | 5,328,939 |
LIABILITIES AND SHAREHOLDERS’ EQUITY | ||
Noninterest-bearing demand deposits | 851,172 | 792,086 |
Interest-bearing demand deposits | 1,147,376 | 1,079,336 |
Savings | 2,398,995 | 2,457,745 |
Certificates of deposit | 304,277 | 386,452 |
Total deposits | 4,701,820 | 4,715,619 |
Subordinated debentures | 20,620 | 20,620 |
Subordinated notes, net of unamortized issuance costs | 83,812 | 83,661 |
Operating lease liabilities | 26,785 | 21,159 |
Accrued interest payable and other liabilities | 42,690 | 45,033 |
Total liabilities | 4,875,727 | 4,886,092 |
Commitments and contingent liabilities | ||
Preferred stock, Series A non-cumulative perpetual, $0 par value; $1,000 liquidation preference; shares authorized 60,375; Shares issued 60,375 at June 30, 2022 and December 31, 2021 | 57,785 | 57,785 |
Common stock, no par value; 50,000,000 shares authorized; Shares issued 16,978,057 at June 30, 2022 and 16,978,057 at December 31, 2021 | 0 | 0 |
Additional paid in capital | 126,986 | 127,351 |
Retained earnings | 283,204 | 260,582 |
Treasury stock, at cost (118,471 shares at June 30, 2022 and 122,995 shares December 31, 2021) | (3,026) | (2,477) |
Accumulated other comprehensive loss | (41,361) | (394) |
Total shareholders’ equity | 423,588 | 442,847 |
Total Liabilities and Shareholders’ Equity | 5,299,315 | 5,328,939 |
PPP loans, net of deferred processing fees | ||
ASSETS | ||
Loans receivable | 2,287 | 45,203 |
Syndicated loans | ||
ASSETS | ||
Loans receivable | 153,154 | 125,761 |
Loans | ||
ASSETS | ||
Loans receivable | $ 3,754,312 | $ 3,463,828 |
CONDENSED CONSOLIDATED BALANC_2
CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) | Jun. 30, 2022 | Dec. 31, 2021 |
Statement of Financial Position [Abstract] | ||
Debt securities, available-for-sale, amortized cost | $ 450,904,000 | $ 698,085,000 |
Debt securities held-to-maturity | $ 389,933,000 | $ 0 |
Preferred stock, par value (in dollars per share) | $ 0 | $ 0 |
Preferred stock, liquidation preference | $ 1,000 | $ 1,000 |
Preferred stock, shares authorized (in shares) | 60,375 | 60,375 |
Preferred stock, shares issued (in shares) | 60,375 | 60,375 |
Common stock, shares authorized (in shares) | 50,000,000 | 50,000,000 |
Common stock, shares issued (in shares) | 16,978,057 | 16,978,057 |
Common stock, shares outstanding (in shares) | 16,978,057 | 16,978,057 |
Treasury stock, shares (in shares) | 118,471 | 122,995 |
CONDENSED CONSOLIDATED STATEMEN
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
INTEREST AND DIVIDEND INCOME: | ||||
Interest and fees on loans receivable | $ 44,666 | $ 38,895 | $ 85,816 | $ 77,303 |
Processing fees on PPP loans | 559 | 1,639 | 1,796 | 4,370 |
Securities: | ||||
Taxable | 4,254 | 2,679 | 7,868 | 5,340 |
Tax-exempt | 227 | 270 | 446 | 621 |
Dividends | 35 | 45 | 69 | 189 |
Total interest and dividend income | 49,741 | 43,528 | 95,995 | 87,823 |
INTEREST EXPENSE: | ||||
Deposits | 2,487 | 4,072 | 5,193 | 8,352 |
Finance lease liabilities | 5 | 6 | 10 | 12 |
Subordinated notes and debentures (includes $51, $62, $118 and $131 accumulated other comprehensive income reclassification for change in fair value of interest rate swap agreements, respectively) | 948 | 1,145 | 1,874 | 2,033 |
Total interest expense | 3,440 | 5,223 | 7,077 | 10,397 |
NET INTEREST INCOME | 46,301 | 38,305 | 88,918 | 77,426 |
PROVISION FOR CREDIT LOSS EXPENSE | 2,905 | 1,967 | 4,548 | 4,089 |
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSS EXPENSE | 43,396 | 36,338 | 84,370 | 73,337 |
NON-INTEREST INCOME: | ||||
Service charges on deposit accounts | 1,771 | 1,446 | 3,528 | 2,794 |
Other service charges and fees | 784 | 601 | 1,439 | 1,091 |
Wealth and asset management fees | 1,803 | 1,765 | 3,586 | 3,287 |
Net realized gains on available-for-sale securities (includes $0, $0, $651 and $0 accumulated other comprehensive income reclassifications for net realized gains on available-for-sale securities, respectively) | 0 | 0 | 651 | 0 |
Net realized and unrealized gains (losses) on equity securities | (641) | 350 | (1,035) | 470 |
Mortgage banking | 292 | 536 | 767 | 1,771 |
Bank owned life insurance | 1,390 | 504 | 2,084 | 1,444 |
Card processing and interchange income | 1,992 | 2,079 | 3,801 | 3,913 |
Other | 755 | 576 | 2,979 | 1,326 |
Total non-interest income | 8,146 | 7,857 | 17,800 | 16,096 |
NON-INTEREST EXPENSES: | ||||
Compensation and benefits | 16,771 | 13,518 | 33,759 | 28,091 |
Net occupancy expense | 3,335 | 2,935 | 6,565 | 6,204 |
Technology expense | 4,024 | 2,888 | 7,396 | 5,558 |
State and local taxes | 1,037 | 1,029 | 2,085 | 2,046 |
Legal, professional, and examination fees | 1,176 | 897 | 2,013 | 2,050 |
Advertising | 537 | 549 | 1,157 | 830 |
FDIC insurance premiums | 710 | 557 | 1,433 | 1,173 |
Dues and subscriptions | 534 | 446 | 1,134 | 899 |
Card processing and interchange expenses | 1,256 | 1,408 | 2,285 | 2,088 |
Other | 3,229 | 2,738 | 6,674 | 5,830 |
Total non-interest expenses | 32,609 | 26,965 | 64,501 | 54,769 |
INCOME BEFORE INCOME TAXES | 18,933 | 17,230 | 37,669 | 34,664 |
INCOME TAX EXPENSE (includes $(11), $(14), $113 and $(28) income tax expense from reclassification items, respectively) | 3,495 | 3,240 | 6,986 | 6,493 |
NET INCOME | 15,438 | 13,990 | 30,683 | 28,171 |
PREFERRED STOCK DIVIDENDS | 1,075 | 1,075 | 2,150 | 2,150 |
NET INCOME AVAILABLE TO COMMON STOCKHOLDERS | $ 14,363 | $ 12,915 | $ 28,533 | $ 26,021 |
PER COMMON SHARE DATA: | ||||
Basic (in dollars per share) | $ 0.85 | $ 0.76 | $ 1.69 | $ 1.54 |
Diluted (in dollars per share) | 0.85 | 0.76 | 1.69 | 1.54 |
Cash dividends per share (in dollars per share) | $ 0.175 | $ 0.170 | $ 0.350 | $ 0.340 |
CONDENSED CONSOLIDATED STATEM_2
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (unaudited) (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Income Statement [Abstract] | ||||
Accumulated other comprehensive income reclassification for change in fair value of interest rate swap agreements | $ 51 | $ 62 | $ 118 | $ 131 |
Accumulated other comprehensive income reclassifications for net realized gains on available-for-sale securities | 0 | 0 | 651 | 0 |
Income tax expense from reclassification | $ (11) | $ (14) | $ 113 | $ (28) |
CONDENSED CONSOLIDATED STATEM_3
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Statement of Comprehensive Income [Abstract] | ||||
NET INCOME | $ 15,438 | $ 13,990 | $ 30,683 | $ 28,171 |
Net change in fair value of derivative instruments: | ||||
Unrealized gain on interest rate swaps, net of tax $(18), $0, $(60) and $(8), respectively | 70 | 2 | 228 | 31 |
Reclassification adjustment for losses recognized in earnings, net of tax $(11), $(14), $(24) and $(28), respectively | 40 | 48 | 94 | 103 |
Net change in fair value of interest rate swap agreements designated as cash flow hedges | 110 | 50 | 322 | 134 |
Net change in debt securities: | ||||
Unrealized holding gains (losses) on available-for-sale securities arising during the period, net of tax of $3,866, $(518), $10,936 and $1,933, respectively | (14,546) | 1,950 | (41,146) | (7,264) |
Amortization of unrealized gains from held-to-maturity securities, net of tax of $(112), $0, $(98) and $0, respectively | 422 | 0 | 371 | 0 |
Reclassification adjustment for realized losses included in net income, net of tax of $0, $0, $137 and $0, respectively | 0 | 0 | (514) | 0 |
Unrealized gain on other securities available-for-sale | (14,124) | 1,950 | (41,289) | (7,264) |
Other comprehensive income (loss) | (14,014) | 2,000 | (40,967) | (7,130) |
COMPREHENSIVE INCOME (LOSS) | $ 1,424 | $ 15,990 | $ (10,284) | $ 21,041 |
CONDENSED CONSOLIDATED STATEM_4
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (unaudited) (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Statement of Comprehensive Income [Abstract] | ||||
Unrealized gain (loss) on interest rate swaps, tax | $ (18) | $ 0 | $ (60) | $ (8) |
Reclassification adjustment for losses recognized in earnings, tax | (11) | (14) | (24) | (28) |
Unrealized (losses) gains on other securities available for sale arising during the period, tax | 3,866 | (518) | 10,936 | 1,933 |
Amortization of unrealized gains from held-to-maturity securities, tax | (112) | 0 | (98) | 0 |
Reclassification adjustment for realized gains included in net income, tax | $ 0 | $ 0 | $ 137 | $ 0 |
CONDENSED CONSOLIDATED STATEM_5
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY (unaudited) - USD ($) $ in Thousands | Total | Preferred Stock | Additional Paid-In Capital | Retained Earnings | Treasury Stock | Accumulated Other Comprehensive Income (Loss) | Restricted Stock | Restricted Stock Treasury Stock | Performance Based Restricted Stock Awards | Performance Based Restricted Stock Awards Treasury Stock |
Beginning balance at Dec. 31, 2020 | $ 416,137 | $ 57,785 | $ 127,518 | $ 218,727 | $ (2,967) | $ 15,074 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||
Net income | 28,171 | 28,171 | ||||||||
Other comprehensive loss | (7,130) | (7,130) | ||||||||
Forfeiture of restricted stock award grants | 0 | 35 | (35) | |||||||
Restricted stock award grants | 0 | (1,228) | 1,228 | |||||||
Performance based restricted stock award grants | 0 | (262) | 262 | |||||||
Stock-based compensation expense | 812 | 812 | ||||||||
Purchase of treasury stock for the purpose of tax withholding | $ (140) | $ (140) | $ (20) | $ (20) | ||||||
Preferred cash dividend declared | (2,150) | (2,150) | ||||||||
Cash dividends declared | (5,731) | (5,731) | ||||||||
Ending balance at Jun. 30, 2021 | 429,949 | 57,785 | 126,875 | 239,017 | (1,672) | 7,944 | ||||
Beginning balance at Mar. 31, 2021 | 417,603 | 57,785 | 126,572 | 228,973 | (1,671) | 5,944 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||
Net income | 13,990 | 13,990 | ||||||||
Other comprehensive loss | 2,000 | 2,000 | ||||||||
Stock-based compensation expense | 303 | 303 | ||||||||
Purchase of treasury stock | (1) | (1) | ||||||||
Preferred cash dividend declared | (1,075) | (1,075) | ||||||||
Cash dividends declared | (2,871) | (2,871) | ||||||||
Ending balance at Jun. 30, 2021 | 429,949 | 57,785 | 126,875 | 239,017 | (1,672) | 7,944 | ||||
Beginning balance at Dec. 31, 2021 | 442,847 | 57,785 | 127,351 | 260,582 | (2,477) | (394) | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||
Net income | 30,683 | 30,683 | ||||||||
Other comprehensive loss | (40,967) | (40,967) | ||||||||
Forfeiture of restricted stock award grants | 0 | 27 | (27) | |||||||
Restricted stock award grants | 0 | (976) | 976 | |||||||
Performance based restricted stock award grants | 0 | (173) | 173 | |||||||
Stock-based compensation expense | 757 | 757 | ||||||||
Purchase of treasury stock | (1,342) | (1,342) | ||||||||
Purchase of treasury stock for the purpose of tax withholding | (203) | (203) | $ (126) | $ (126) | ||||||
Preferred cash dividend declared | (2,150) | (2,150) | ||||||||
Cash dividends declared | (5,911) | (5,911) | ||||||||
Ending balance at Jun. 30, 2022 | 423,588 | 57,785 | 126,986 | 283,204 | (3,026) | (41,361) | ||||
Beginning balance at Mar. 31, 2022 | 425,935 | 57,785 | 126,703 | 271,792 | (2,998) | (27,347) | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||
Net income | 15,438 | 15,438 | ||||||||
Other comprehensive loss | (14,014) | (14,014) | ||||||||
Forfeiture of restricted stock award grants | 0 | 27 | (27) | |||||||
Stock-based compensation expense | 256 | 256 | ||||||||
Purchase of treasury stock for the purpose of tax withholding | $ (1) | $ (1) | ||||||||
Preferred cash dividend declared | (1,075) | (1,075) | ||||||||
Cash dividends declared | (2,951) | (2,951) | ||||||||
Ending balance at Jun. 30, 2022 | $ 423,588 | $ 57,785 | $ 126,986 | $ 283,204 | $ (3,026) | $ (41,361) |
CONDENSED CONSOLIDATED STATEM_6
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY (unaudited) (Parenthetical) - $ / shares | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Forfeiture of restricted stock award grants (in shares) | 1,090 | 1,090 | 1,578 | |
Restricted stock award grants (in shares) | 56,159 | 50,106 | ||
Performance-based restricted stock award (in shares) | 11,895 | 10,587 | ||
Purchase of treasury stock (in shares) | 50,166 | |||
Cash dividends declared (in dollars per share) | $ 0.175 | $ 0.170 | $ 0.35 | $ 0.34 |
Restricted Stock | ||||
Purchase of treasury stock (in shares) | 22 | 65 | 7,568 | 6,663 |
Performance Based Restricted Stock Awards | ||||
Purchase of treasury stock (in shares) | 4,706 | 941 |
CONDENSED CONSOLIDATED STATEM_7
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net income | $ 30,683 | $ 28,171 |
Adjustments to reconcile net income to net cash provided by operations: | ||
Provision for credit loss expense | 4,548 | 4,089 |
Depreciation and amortization of premises and equipment, operating leases assets, core deposit intangible, and mortgage servicing rights | 3,483 | 3,390 |
Accretion of securities, deferred loan fees and costs, net yield and credit mark on acquired loans, and unearned income | (1,741) | (1,058) |
Net amortization of deferred costs on borrowings | 151 | 25 |
Accretion of deferred PPP processing fees | (1,796) | (4,370) |
Net realized gains on sales of available-for-sale securities | (651) | 0 |
Net realized and unrealized (gains) losses on equity securities | 1,035 | (470) |
Gain on sale of loans receivable | (930) | (1,568) |
Net losses on dispositions of premises and equipment and foreclosed assets | 40 | 245 |
Proceeds from sale of loans receivable | 17,367 | 35,912 |
Origination of loans held for sale | (23,168) | (42,030) |
Income on bank owned life insurance | (1,254) | (1,034) |
Gain on bank owned life insurance (death benefit proceeds in excess of cash surrender value) | (830) | (410) |
Restricted stock compensation expense | 757 | 812 |
Changes in: | ||
Accrued interest receivable and other assets | (13,770) | (1,592) |
Accrued interest payable, lease liabilities, and other liabilities | 7,891 | 833 |
NET CASH PROVIDED BY OPERATING ACTIVITIES | 21,815 | 20,945 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Proceeds from maturities, prepayments and calls of available-for-sale securities | 47,229 | 87,541 |
Proceeds from sales of available-for-sale securities | 22,164 | 0 |
Purchase of available-for-sale securities | (43,055) | (190,818) |
Proceeds from maturities, prepayments and calls of held-to-maturity securities | 14,707 | 0 |
Purchases of held-to-maturity securities | (213,853) | 0 |
Purchase of equity securities | (208) | (201) |
Net increase in loans receivable | (265,410) | (87,969) |
Purchase of bank owned life insurance | (2,750) | (22,000) |
Proceeds from death benefit of bank owned life insurance policies | 0 | 1,390 |
Redemption (purchase) of FHLB, other equity, and restricted equity interests | (1,208) | (460) |
Purchase of premises and equipment | (3,991) | (2,463) |
Proceeds from the sale of premises and equipment and foreclosed assets | 47 | 518 |
NET CASH USED BY INVESTING ACTIVITIES | (446,328) | (214,462) |
Net change in: | ||
Checking, money market and savings accounts | 68,376 | 355,307 |
Certificates of deposit | (82,175) | (32,286) |
Purchase of treasury stock | (1,671) | (160) |
Cash dividends paid, common stock | (5,911) | (5,731) |
Cash dividends paid, preferred stock | (2,150) | (2,150) |
Proceeds from issuance of subordinated notes, net of issuance costs | 0 | 83,516 |
NET CASH PROVIDED (USED) BY FINANCING ACTIVITIES | (23,531) | 398,496 |
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | (448,044) | 204,979 |
CASH AND CASH EQUIVALENTS, Beginning | 732,198 | 532,694 |
CASH AND CASH EQUIVALENTS, Ending | 284,154 | 737,673 |
Cash paid during the period for: | ||
Interest | 8,530 | 10,293 |
Income taxes | 6,958 | 5,582 |
SUPPLEMENTAL NONCASH DISCLOSURES: | ||
Transfers to other real estate owned | 0 | 314 |
Transfers from loans held for sale to loans held for investment | 6,352 | 7,044 |
Transfers from available-for-sale to held-to-maturity | 220,757 | 0 |
Grant of restricted stock awards from treasury stock | 976 | 1,228 |
Grant of performance based restricted stock awards from treasury stock | 173 | 262 |
Lease liabilities arising from obtaining right-of-use assets | $ 6,188 | $ 0 |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 6 Months Ended |
Jun. 30, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Nature of Operations CNB Financial Corporation (the "Corporation") is headquartered in Clearfield, Pennsylvania, and provides a full range of banking and related services through its wholly owned subsidiary, CNB Bank (the "Bank"). In addition, the Bank provides wealth and asset management services, including the administration of trusts and estates, retirement plans, and other employee benefit plans as well as a full range of wealth management services. The Bank serves individual and corporate customers and is subject to competition from other financial institutions and intermediaries with respect to these services. In addition to the Bank, the Corporation also operates a consumer discount loan and finance business through its wholly owned subsidiary, Holiday Financial Services Corporation ("Holiday"). The Corporation and its other subsidiaries are subject to examination by federal and state regulators. The Corporation’s market area is primarily concentrated in the Central and Northwest regions of the Commonwealth of Pennsylvania, the Central and Northeast regions of the state of Ohio, Western New York and Southwest Virginia. Basis of Presentation The accompanying condensed consolidated financial statements have been prepared pursuant to rules and regulations of the SEC and in compliance with U.S. generally accepted accounting principles ("GAAP"). Because this report is based on an interim period, certain information and footnote disclosures normally included in the consolidated financial statements prepared in accordance with GAAP have been condensed or omitted. In the opinion of management of the registrant, the accompanying condensed consolidated financial statements as of June 30, 2022 and for the three and six months ended June 30, 2022 and 2021 include all adjustments, consisting of only normal recurring adjustments, necessary for a fair presentation of the financial condition and the results of operations for the periods presented. The financial performance reported for the Corporation for the three and six months ended June 30, 2022 is not necessarily indicative of the results to be expected for the full year. This information should be read in conjunction with the Corporation’s Annual Report on Form 10-K for the year ended December 31, 2021 (the "2021 Form 10-K"). Certain amounts appearing in the condensed consolidated financial statements and notes thereto for prior periods have been reclassified to conform with the current presentation. The reclassifications had no effect on net income or shareholders’ equity as previously reported. Dollar amounts in tables are stated in thousands, except for per share amounts. Risks and Uncertainties The worldwide spread of COVID-19 has created significant uncertainty in the global economy. The ultimate impact of the COVID-19 pandemic and the extent to which the COVID-19 pandemic and the related government responses impact the Corporation’s business, results of operations and financial condition will depend on future developments, which are highly uncertain and difficult to predict. The Corporation's business is dependent upon the willingness and ability of its employees and customers to conduct banking and other financial transactions. If the global response to contain the COVID-19 pandemic requires further restrictive measures or is unsuccessful, the Corporation could experience a material adverse effect on its business, financial condition, results of operations and cash flows. Since the extent to which the COVID-19 pandemic impacts its operations will depend on future developments that are highly uncertain, the Corporation cannot estimate the impact on its business, financial condition or near or long-term financial or operational results with reasonable certainty. Accordingly, the Corporation is disclosing potentially material items of which it is aware. Use of Estimates To prepare financial statements in conformity with GAAP, management makes estimates and assumptions based on available information. These estimates and assumptions affect the amounts reported in the financial statements and the disclosures provided and future results could differ. Operating Segments While the Corporation monitors the revenue streams of the various products and services, operations are managed and financial performance is evaluated on a Corporation-wide basis, and operating segments are aggregated into one as operating results for all segments are similar. Accordingly, all of the financial service operations are considered by management to be aggregated in one reportable operating segment. Debt Securities Debt securities are classified as held to maturity and carried at amortized cost when management has the positive intent and ability to hold them to maturity. Debt securities are classified as available for sale when they might be sold before maturity. Securities available for sale are carried at fair value, with unrealized holding gains and losses reported in other comprehensive income, net of tax. Interest income includes amortization of purchase premium or discount. Premiums and discounts on securities are amortized on the level-yield method without anticipating prepayments, except for mortgage backed securities where prepayments are anticipated. Gains and losses on sales are recorded on the settlement date and determined using the specific identification method. The Corporation has made a policy election to exclude accrued interest from the amortized cost basis of debt securities and report accrued interest separately in accrued interest receivable and other assets in the condensed consolidated balance sheets. A debt security is placed on nonaccrual status at the time any principal or interest payments become more than 90 days delinquent or if full collection of interest or principal becomes uncertain. Accrued interest for a security placed on nonaccrual is reversed against interest income. There was no accrued interest related to debt securities reversed against interest income for the three and six months ended June 30, 2022 and 2021. |
RECENT ACCOUNTING PRONOUNCEMENT
RECENT ACCOUNTING PRONOUNCEMENTS | 6 Months Ended |
Jun. 30, 2022 | |
Accounting Changes and Error Corrections [Abstract] | |
RECENT ACCOUNTING PRONOUNCEMENTS | RECENT ACCOUNTING PRONOUNCEMENTS Accounting Standards Adopted in 2021 In August 2018, the FASB issued ASU 2018-14, "Disclosure Framework - Changes to the Disclosure Requirements for Defined Benefit Plans." ASU 2018-14 amends ASC 715-20, "Compensation - Retirement Benefits - Defined Benefit Plans - General." The amended guidance modifies the disclosure requirements for employers that sponsor defined benefit pension or other post-retirement plans by removing and adding certain disclosures for these plans. The eliminated disclosures include (a) the amounts in accumulated Other Comprehensive Income expected to be recognized in net periodic benefit costs over the next fiscal year, and (b) the effects of a one percentage point change in assumed health care cost trend rates on the net periodic benefit costs and the benefit obligation for post-retirement health care benefits. Additional disclosures include descriptions of significant gains and losses affecting the benefit obligation for the period. ASU 2018-14 was effective for the Corporation on January 1, 2021 and did not have a material impact on its consolidated financial statements and related disclosures. In December 2019, the FASB issued ASU 2019-12, "Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes." These amendments remove specific exceptions to the general principles in Topic 740 in GAAP. It eliminates the need for an organization to analyze whether the following apply in a given period: exception to the incremental approach for intraperiod tax allocation; exceptions to accounting for basis differences where there are ownership changes in foreign investments; and exception in interim period income tax accounting for year-to-date losses that exceed anticipated losses. It also improves financial statement preparers' application of income tax- related guidance and simplifies GAAP for: franchise taxes that are partially based on income; transactions with a government that result in a step up in the tax basis of goodwill; separate financial statements of legal entities that are not subject to tax; and enacts changes in tax laws in interim periods. The guidance is effective for public business entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020. Early adoption is permitted. ASU 2019-12 was effective for the Corporation on January 1, 2021 and did not have a material impact on its consolidated financial statements and related disclosures. In January 2020, the FASB issued ASU 2020-01, "Investments - Equity Securities (Topic 321), Investments - Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815) - Clarifying the Interactions between Topic 321, Topic 323, and Topic 815." ASU 2020-01 represents changes to clarify certain interactions between the guidance to account for certain equity securities under Topic 321, the guidance to account for investments under the equity method of accounting in Topic 323, and the guidance in Topic 815. These amendments improve current U.S. GAAP by reducing diversity in practice and increasing comparability of the accounting for these transactions. ASU 2020-01 was effective for the Corporation on January 1, 2021 and did not have a material impact on its consolidated financial statements and related disclosures. In October 2020, the FASB issued ASU 2020-08, "Codification Improvements to Subtopic 310-20, Receivables - Nonrefundable Fees and Other Costs." ASU 2020-08 clarifies that an entity should reevaluate whether a callable debt security is within the scope of paragraph 310-20-35-33 for each reporting period. ASU 2020-08 was effective for the Corporation on January 1, 2021 and did not have a material impact on its consolidated financial statements and related disclosures. In August 2021, FASB issued ASU 2021-06, "Presentation of Financial Statements (Topic 205), Financial Services—Depository and Lending (Topic 942), and Financial Services—Investment Companies (Topic 946)." ASU 2021-06 updates the codification to align with SEC Final Rule Releases No. 33-10786 and No. 33-10835. Specific to financial institutions, these SEC releases updated required annual statistical disclosures. The amendments in ASU 2021-06 were effective immediately. The updates to the statistical disclosures are reflected in the Corporation's Annual Report on Form 10-K for the year ended December 31, 2021, to align with this guidance. Accounting Pronouncements Pending Adoption In March 2020, the FASB issued ASU 2020-04, "Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting." ASU 2020-04 provides optional expedients and exceptions for accounting related to contracts, hedging relationships and other transactions affected by reference rate reform if certain criteria are met. ASU 2020-04 applies only to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform and do not apply to contract modifications made and hedging relationships entered into or evaluated after December 31, 2022, except for hedging relationships existing as of December 31, 2022, that an entity has elected certain optional expedients for and that are retained through the end of the hedging relationship. The amendments in this update are effective for all entities as of March 12, 2020 through December 31, 2022. The Corporation is currently evaluating the effect of the reference rate reform on its consolidated financial statements. In January 2021, the FASB issued ASU 2021-01, "Reference Rate Reform (Topic 848)." ASU 2021-01 expands and clarifies the scope of ASU No. 2020-04 to include derivatives affected by changes in interest rates used for margining, discounting, or contract price alignment, commonly referred to as the “discounting transaction.” Derivatives impacted by the discounting transaction will be eligible for certain optional expedients and exceptions related to contract modifications and hedge accounting as defined in Topic 848. The amendments in this update are effective for all entities as of March 12, 2020 through December 31, 2022. The Corporation is currently evaluating the effect of the reference rate reform on its consolidated financial statements and related disclosures. In March 2022, the FASB issued ASU No. 2022-02, "Financial Instruments – Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures." This ASU eliminates the separate recognition and measurement guidance for Troubled Debt Restructurings ("TDRs") by creditors. The elimination of the TDR guidance may be adopted prospectively for loan modifications after adoption or on a modified retrospective basis, which would also apply to loans previously modified, resulting in a cumulative effect adjustment to retained earnings in the period of adoption for changes in the allowance for credit losses. This guidance is effective for the Corporation for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years, with early adoption permitted. The Corporation is evaluating the effect that ASU 2022-02 will have on its consolidated financial statements and related disclosures. In June 2022, FASB issued ASU No. 2022-03, "Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions." In this ASU, a contractual restriction on the sale of an equity security is not considered in measuring the security's fair value. The ASU also requires certain disclosures for equity securities that are subject to contractual restrictions. This guidance is effective for the Corporation for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years, with early adoption permitted. The Corporation is evaluating the effect that ASU 2022-03 will have on its consolidated financial statements and related disclosures. |
SECURITIES
SECURITIES | 6 Months Ended |
Jun. 30, 2022 | |
Investments, Debt and Equity Securities [Abstract] | |
SECURITIES | SECURITIES Debt securities available-for-sale ("AFS") at June 30, 2022 and December 31, 2021 are as follows: June 30, 2022 December 31, 2021 Amortized Unrealized Fair Amortized Unrealized Fair Cost Gains Losses Value Cost Gains Losses Value U.S. Government sponsored entities $ 2,278 $ 0 $ (67) $ 2,211 $ 110,788 $ 2,728 $ (1,768) $ 111,748 State & political subdivisions 116,408 147 (13,046) 103,509 103,232 2,162 (1,682) 103,712 Residential & multi-family mortgage 273,603 114 (29,204) 244,513 437,021 4,127 (6,513) 434,635 Corporate notes & bonds 42,669 27 (3,616) 39,080 28,257 250 (443) 28,064 Pooled SBA 15,946 9 (861) 15,094 18,787 283 (38) 19,032 Total $ 450,904 $ 297 $ (46,794) $ 404,407 $ 698,085 $ 9,550 $ (10,444) $ 697,191 Debt securities held-to-maturity ("HTM") at June 30, 2022 and December 31, 2021 are as follows: June 30, 2022 December 31, 2021 Amortized Unrealized Fair Amortized Unrealized Fair Cost Gains Losses Value Cost Gains Losses Value U.S. Government sponsored entities $ 307,634 $ 0 $ (18,327) $ 289,307 $ 0 $ 0 $ 0 $ 0 Residential & multi-family mortgage 105,676 0 (5,050) 100,626 0 0 0 0 Total $ 413,310 $ 0 $ (23,377) $ 389,933 $ 0 $ 0 $ 0 $ 0 The Corporation elected to transfer 23 AFS securities with an aggregate fair value of $101.1 million to a classification of HTM on January 1, 2022. In accordance with FASB ASC 320-10-55-24, the transfer from AFS to HTM must be recorded at the fair value of the AFS securities at the time of transfer. The net unrealized holding gain of $373 thousand, net of tax, at the date of transfer was retained in accumulated other comprehensive income (loss), with the associated pre-tax amount retained in the carrying value of the HTM securities. Such amounts will be amortized to comprehensive income over the remaining life of the securities. The Corporation elected to transfer 51 AFS securities with an aggregate fair value of $112.6 million to a classification of HTM on April 1, 2022. The net unrealized holding loss of $6.0 million, net of tax, at the date of transfer was retained in accumulated other comprehensive income (loss), with the associated pre-tax amount retained in the carrying value of the HTM securities. Such amounts will be amortized to comprehensive income over the remaining life of the securities. Information pertaining to security sales on AFS securities is as follows: Proceeds Gross Gross Three months ended June 30, 2022 $ 0 $ 0 $ 0 Three months ended June 30, 2021 0 0 0 Six months ended June 30, 2022 22,164 651 0 Six months ended June 30, 2021 0 0 0 The tax provision related to these net realized gains was zero and $137 thousand for the three and six months ended June 30, 2022 and zero during the three and six months ended June 30, 2021, respectively. The table below illustrates the maturity distribution of debt securities at amortized cost and fair value as of June 30, 2022: Available-for-sale Held-to-maturity Amortized Fair Amortized Fair 1 year or less $ 4,854 $ 4,869 $ 5,125 $ 5,018 1 year – 5 years 34,134 33,151 232,236 221,284 5 years – 10 years 91,531 81,388 64,786 58,206 After 10 years 30,836 25,392 5,487 4,799 161,355 144,800 307,634 289,307 Residential & multi-family mortgage 273,603 244,513 105,676 100,626 Pooled SBA 15,946 15,094 0 0 Total debt securities $ 450,904 $ 404,407 $ 413,310 $ 389,933 Mortgage securities and pooled SBA securities are not due at a single date; periodic payments are received based on the payment patterns of the underlying collateral. On June 30, 2022 and December 31, 2021, securities carried at $626.0 million and $461.5 million, respectively, were pledged to secure public deposits and for other purposes as provided by law. At June 30, 2022 and December 31, 2021, there were no holdings of securities of any one issuer, other than the U.S. Government sponsored entities, in an amount greater than 10% of shareholders’ equity. The Corporation’s residential and multi-family mortgage securities are issued by government sponsored entities. AFS debt securities with unrealized losses at June 30, 2022 and December 31, 2021, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, are as follows: June 30, 2022 Less than 12 Months 12 Months or More Total Description of Securities Fair Unrealized Fair Unrealized Fair Unrealized U.S. Government sponsored entities $ 2,211 $ (67) $ 0 $ 0 $ 2,211 $ (67) State & political subdivisions 73,314 (10,174) 11,016 (2,872) 84,330 (13,046) Residential & multi-family mortgage 164,539 (17,703) 66,816 (11,501) 231,355 (29,204) Corporate notes & bonds 30,790 (3,117) 5,263 (499) 36,053 (3,616) Pooled SBA 14,647 (861) 0 0 14,647 (861) $ 285,501 $ (31,922) $ 83,095 $ (14,872) $ 368,596 $ (46,794) December 31, 2021 Less than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized U.S. Government sponsored entities $ 23,733 $ (553) $ 37,911 $ (1,215) $ 61,644 $ (1,768) State & political subdivisions 55,636 (1,399) 5,026 (283) 60,662 (1,682) Residential & multi-family mortgage 248,690 (4,837) 45,185 (1,676) 293,875 (6,513) Corporate notes & bonds 6,466 (249) 3,806 (194) 10,272 (443) Pooled SBA 4,394 (37) 127 (1) 4,521 (38) $ 338,919 $ (7,075) $ 92,055 $ (3,369) $ 430,974 $ (10,444) HTM debt securities with unrealized losses at June 30, 2022 and December 31, 2021, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, are as follows: June 30, 2022 Less than 12 Months 12 Months or More Total Description of Securities Fair Unrealized Fair Unrealized Fair Unrealized U.S. Government sponsored entities $ 241,832 $ (14,169) $ 47,475 $ (4,158) $ 289,307 $ (18,327) Residential & multi-family mortgage 75,181 (3,482) 25,445 (1,568) 100,626 (5,050) $ 317,013 $ (17,651) $ 72,920 $ (5,726) $ 389,933 $ (23,377) December 31, 2021 Less than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized U.S. Government sponsored entities $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 Residential & multi-family mortgage 0 0 0 0 0 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 At June 30, 2022 and December 31, 2021, management performed an assessment for possible impairment related to credit losses of the Corporation’s debt securities, relying on information obtained from various sources, including publicly available financial data, ratings by external agencies, brokers and other sources. Based on the results of the assessment, management believes there is no credit related impairment of these debt securities at June 30, 2022 and December 31, 2021. For the securities that comprise corporate notes and bonds and the securities that are issued by state and political subdivisions, management monitors publicly available financial information, such as filings with the Securities and Exchange Commission, in order to evaluate the securities for potential credit impairment. For financial institution issuers, management monitors information from quarterly “call” report filings that are used to generate Uniform Bank Performance Reports. All other securities that were in an unrealized loss position at the balance sheet date were reviewed by management, and issuer-specific documents were reviewed as appropriate given the following considerations; the financial condition and near-term prospects of the issuer and whether downgrades by bond rating agencies have occurred, the length of time and extent to which fair value has been less than cost, and whether management does not have the intent to sell these securities and it is likely that it will not be required to sell the securities before their anticipated recovery. As of June 30, 2022 and December 31, 2021, management concluded the debt securities described in the previous paragraphs were not impaired for reasons due to credit quality for the following reasons: • There is no indication of any significant deterioration of the creditworthiness of the institutions that issued the securities. • All contractual interest payments on the securities have been received as scheduled, and no information has come to management’s attention through the processes previously described which would lead to a conclusion that future contractual payments will not be timely received. • The unrealized losses were deemed to be temporary changes in value related to market movements in interest yields. The Corporation does not intend to sell and it is not more likely than not that it will be required to sell the securities in an unrealized loss position before recovery of its amortized cost basis. Equity securities at June 30, 2022 and December 31, 2021 are as follows: June 30, 2022 December 31, 2021 Corporate equity securities $ 6,272 $ 6,715 Mutual funds 2,591 2,566 Certificates of deposit 0 506 Corporate notes and bonds 676 579 Total $ 9,539 $ 10,366 |
LOANS RECEIVABLE AND ALLOWANCE
LOANS RECEIVABLE AND ALLOWANCE FOR CREDIT LOSSES | 6 Months Ended |
Jun. 30, 2022 | |
Receivables [Abstract] | |
LOANS RECEIVABLE AND ALLOWANCE FOR CREDIT LOSSES | LOANS RECEIVABLE AND ALLOWANCE FOR CREDIT LOSSES Total net loans receivable at June 30, 2022 and December 31, 2021 are summarized as follows: June 30, 2022 Percentage December 31, 2021 Percentage Farmland $ 31,649 0.8 % $ 23,768 0.7 % Owner-occupied, nonfarm nonresidential properties 463,922 11.9 % 434,672 12.0 % Agricultural production and other loans to farmers 1,097 0.0 % 1,379 0.0 % Commercial and Industrial 1 759,417 19.4 % 708,989 19.5 % Obligations (other than securities and leases) of states and political subdivisions 143,488 3.7 % 140,887 3.9 % Other loans 14,524 0.4 % 13,979 0.4 % Other construction loans and all land development and other land loans 341,399 8.7 % 298,869 8.2 % Multifamily (5 or more) residential properties 212,561 5.5 % 216,143 5.9 % Non-owner occupied, nonfarm nonresidential properties 734,580 18.8 % 663,062 18.2 % 1-4 Family Construction 40,990 1.0 % 37,822 1.0 % Home equity lines of credit 115,836 3.0 % 104,517 2.9 % Residential Mortgages secured by first liens 875,974 22.4 % 826,729 22.7 % Residential Mortgages secured by junior liens 62,212 1.6 % 56,689 1.6 % Other revolving credit plans 28,768 0.7 % 26,536 0.7 % Automobile 20,166 0.5 % 20,862 0.6 % Other consumer 51,765 1.3 % 49,676 1.4 % Credit cards 11,049 0.3 % 9,935 0.3 % Overdrafts 356 0.0 % 278 0.0 % Total loans receivable $ 3,909,753 100.0 % $ 3,634,792 100.0 % Less: Allowance for credit losses (40,543) (37,588) Loans receivable, net $ 3,869,210 $ 3,597,204 Net deferred loan origination fees (costs) included in the above table $ 4,513 $ 5,667 1 PPP loans, net of deferred PPP processing fees, both those disbursed in 2020 and those disbursed in 2021, are included in the Commercial and Industrial classification. The Corporation’s outstanding loans receivable and related unfunded commitments are primarily concentrated within central and northwest Pennsylvania, central and northeast Ohio, western New York and Southwestern Virginia. The Bank attempts to limit concentrations within specific industries by utilizing dollar limitations to single industries or customers, and by entering into participation agreements with third parties. Collateral requirements are established based on management’s assessment of the customer. The Corporation maintains lending policies to control the quality of the loan portfolio. These policies delegate the authority to extend loans under specific guidelines and underwriting standards. These policies are prepared by the Corporation’s management and reviewed and approved annually by the Corporation’s Board of Directors. During the second quarter of 2020, the Corporation began originating loans to qualified small businesses under the Paycheck Protection Program ("PPP") administered by the Small Business Administration (“SBA”) under the provisions of the Coronavirus Aid, Relief, and Economic Security Act. PPP loans, both those disbursed in 2020 and those disbursed in 2021, are included in the commercial and industrial classification and, as the PPP loans are fully guaranteed by the SBA, no allowance for credit losses was required recorded against the PPP loans, net of deferred PPP processing fees, outstanding of $2.3 million and $45.2 million as of June 30, 2022 and December 31, 2021, respectively. Syndicated loans, net of deferred fees and costs, are included in the commercial and industrial classification and totaled $153.2 million and $125.8 million as of June 30, 2022 and December 31, 2021, respectively. Transactions in the allowance for credit losses for the three months ended June 30, 2022 were as follows: Beginning (Charge-offs) Recoveries Provision (Benefit) for Credit Losses on Loans Receivable (1) Ending Allowance Farmland $ 186 $ 0 $ 0 $ 5 $ 191 Owner-occupied, nonfarm nonresidential properties 3,595 0 2 117 3,714 Agricultural production and other loans to farmers 10 0 0 (3) 7 Commercial and Industrial 9,090 (14) 13 466 9,555 Obligations (other than securities and leases) of states and political subdivisions 1,828 0 0 (163) 1,665 Other loans 143 0 0 24 167 Other construction loans and all land development and other land loans 2,050 0 0 278 2,328 Multifamily (5 or more) residential properties 2,236 0 0 41 2,277 Non-owner occupied, nonfarm nonresidential properties 6,411 0 0 337 6,748 1-4 Family Construction 210 0 0 26 236 Home equity lines of credit 1,181 0 2 170 1,353 Residential Mortgages secured by first liens 6,905 0 0 759 7,664 Residential Mortgages secured by junior liens 552 0 0 76 628 Other revolving credit plans 547 (19) 28 42 598 Automobile 254 (6) 0 (6) 242 Other consumer 2,569 (369) 19 485 2,704 Credit cards 103 (45) 4 48 110 Overdrafts 247 (127) 33 203 356 Total $ 38,117 $ (580) $ 101 $ 2,905 $ 40,543 (1) Excludes provision for credit losses related to unfunded commitments. Note 8, "Off-Balance Sheet Commitments and Contingencies," in the condensed consolidated financial statements provides more detail concerning the provision for credit losses related to unfunded commitments of the Corporation. Transactions in the allowance for credit losses for the six months ended June 30, 2022 were as follows: Beginning (Charge-offs) Recoveries Provision (Benefit) for Credit Losses on Loans Receivable (1) Ending Allowance Farmland $ 151 $ 0 $ 0 $ 40 $ 191 Owner-occupied, nonfarm nonresidential properties 3,339 (21) 9 387 3,714 Agricultural production and other loans to farmers 9 0 0 (2) 7 Commercial and Industrial 8,837 (85) 91 712 9,555 Obligations (other than securities and leases) of states and political subdivisions 1,649 0 0 16 1,665 Other loans 149 0 0 18 167 Other construction loans and all land development and other land loans 2,198 0 0 130 2,328 Multifamily (5 or more) residential properties 2,289 0 0 (12) 2,277 Non-owner occupied, nonfarm nonresidential properties 6,481 0 0 267 6,748 1-4 Family Construction 158 0 0 78 236 Home equity lines of credit 1,169 0 10 174 1,353 Residential Mortgages secured by first liens 6,943 (47) 12 756 7,664 Residential Mortgages secured by junior liens 546 0 0 82 628 Other revolving credit plans 528 (45) 34 81 598 Automobile 263 (13) 0 (8) 242 Other consumer 2,546 (770) 41 887 2,704 Credit cards 92 (59) 8 69 110 Overdrafts 241 (246) 74 287 356 Total $ 37,588 $ (1,286) $ 279 $ 3,962 $ 40,543 (1) Excludes provision for credit losses related to unfunded commitments. Note 8, "Off-Balance Sheet Commitments and Contingencies," in the condensed consolidated financial statements provides more detail concerning the provision for credit losses related to unfunded commitments of the Corporation. Transactions in the allowance for credit losses for the three months ended June 30, 2021 were as follows: Beginning (Charge-offs) Recoveries Provision (Benefit) for Credit Losses on Loans Receivable (1) Ending Allowance Farmland $ 224 $ 0 $ 0 $ (100) $ 124 Owner-occupied, nonfarm nonresidential properties 2,935 0 3 (58) 2,880 Agricultural production and other loans to farmers 28 0 0 (16) 12 Commercial and Industrial 6,479 (14) 15 832 7,312 Obligations (other than securities and leases) of states and political subdivisions 1,715 (250) 0 860 2,325 Other loans 73 0 0 44 117 Other construction loans and all land development and other land loans 2,006 0 0 358 2,364 Multifamily (5 or more) residential properties 2,754 0 0 (440) 2,314 Non-owner occupied, nonfarm nonresidential properties 11,326 0 0 (1,164) 10,162 1-4 Family Construction 67 0 0 43 110 Home equity lines of credit 843 0 2 184 1,029 Residential Mortgages secured by first liens 3,550 (42) 1 889 4,398 Residential Mortgages secured by junior liens 224 0 0 184 408 Other revolving credit plans 527 (17) 3 (54) 459 Automobile 182 0 3 56 241 Other consumer 2,374 (246) 47 227 2,402 Credit cards 65 (39) 3 39 68 Overdrafts 183 (107) 24 83 183 Total $ 35,555 $ (715) $ 101 $ 1,967 $ 36,908 (1) Excludes provision for credit losses related to unfunded commitments. Note 8, "Off-Balance Sheet Commitments and Contingencies," in the condensed consolidated financial statements provides more detail concerning the provision for credit losses related to unfunded commitments of the Corporation. Transactions in the allowance for credit losses for the six months ended June 30, 2021 were as follows: Beginning (Charge-offs) Recoveries Provision (Benefit) for Credit Losses on Loans Receivable (1) Ending Allowance Farmland $ 221 $ 0 $ 0 $ (97) $ 124 Owner-occupied, nonfarm nonresidential properties 3,700 (531) 5 (294) 2,880 Agricultural production and other loans to farmers 24 0 0 (12) 12 Commercial and Industrial 6,233 (70) 20 1,129 7,312 Obligations (other than securities and leases) of states and political subdivisions 998 (250) 0 1,577 2,325 Other loans 68 0 0 49 117 Other construction loans and all land development and other land loans 1,956 0 0 408 2,364 Multifamily (5 or more) residential properties 2,724 0 0 (410) 2,314 Non-owner occupied, nonfarm nonresidential properties 8,658 0 0 1,504 10,162 1-4 Family Construction 82 0 0 28 110 Home equity lines of credit 985 0 2 42 1,029 Residential Mortgages secured by first liens 4,539 (70) 32 (103) 4,398 Residential Mortgages secured by junior liens 241 0 0 167 408 Other revolving credit plans 507 (23) 5 (30) 459 Automobile 132 (5) 3 111 241 Other consumer 2,962 (561) 95 (94) 2,402 Credit cards 66 (72) 11 63 68 Overdrafts 244 (191) 79 51 183 Total $ 34,340 $ (1,773) $ 252 $ 4,089 $ 36,908 (1) Excludes provision for credit losses related to unfunded commitments. Note 8, "Off-Balance Sheet Commitments and Contingencies," in the condensed consolidated financial statements provides more detail concerning the provision for credit losses related to unfunded commitments of the Corporation. The Corporation's allowance for credit losses is influenced by loan volumes, risk rating migration, delinquency status and other conditions influencing loss expectations, such as reasonable and supportable forecasts of economic conditions. For the three and six months ended June 30, 2022, the allowance for credit losses increased due to the growth in the Corporation's loan portfolio, including growth in new market areas. This was partially offset by improvements in the Corporation's historical loss rates, as well as the impact of net charge-offs. There is still a significant amount of uncertainty related to the domestic and global economy, continued supply chain challenges, persistent inflation and the COVID-19 pandemic. Management will continue to proactively evaluate its estimate of expected credit losses as new information becomes available. Provision for credit losses was $2.9 million and $4.5 million for the three and six months ended June 30, 2022, respectively, compared to $2.0 million and $4.1 million for the three and six months ended June 30, 2021. The increase in provision for the three months ended June 30, 2022 was primarily due to the growth in commercial loans. Included in the provision for credit losses for the six months ended June 30, 2022 was $586 thousand related to the allowance for unfunded commitments compared to no accrual towards the allowance for unfunded commitments for the six months ended June 30, 2021. The following tables presents the amortized cost basis of loans receivable on nonaccrual status and loans receivable past due over 89 days still accruing as of June 30, 2022 and December 31, 2021, respectively: June 30, 2022 Nonaccrual Nonaccrual With No Allowance for Credit Loss Loans Receivable Past Due over 89 Days Still Accruing Farmland $ 938 $ 938 $ 997 Owner-occupied, nonfarm nonresidential properties 1,711 1,632 0 Commercial and Industrial 5,919 2,070 55 Other construction loans and all land development and other land loans 71 71 0 Multifamily (5 or more) residential properties 1,108 0 0 Non-owner occupied, nonfarm nonresidential properties 3,685 2,058 0 Home equity lines of credit 586 586 0 Residential Mortgages secured by first liens 4,021 3,558 5 Residential Mortgages secured by junior liens 200 200 0 Other revolving credit plans 49 49 0 Automobile 30 30 0 Other consumer 636 636 0 Credit cards 0 0 3 Total $ 18,954 $ 11,828 $ 1,060 December 31, 2021 Nonaccrual Nonaccrual With No Allowance for Credit Loss Loans Receivable Past Due over 89 Days Still Accruing Farmland $ 965 $ 965 $ 0 Owner-occupied, nonfarm nonresidential properties 850 762 0 Commercial and Industrial 7,060 1,653 8 Other construction loans and all land development and other land loans 516 77 0 Multifamily (5 or more) residential properties 1,270 5 0 Non-owner occupied, nonfarm nonresidential properties 3,771 2,143 0 Home equity lines of credit 824 824 0 Residential Mortgages secured by first liens 3,410 3,410 137 Residential Mortgages secured by junior liens 147 147 0 Other revolving credit plans 13 13 0 Automobile 36 36 0 Other consumer 558 558 0 Credit cards 0 0 23 Total $ 19,420 $ 10,593 $ 168 All payments received while on nonaccrual status are applied against the principal balance of the loan. The Corporation does not recognize interest income while a loan is on nonaccrual status. The following table presents the amortized cost basis of loans receivable that are individually evaluated and collateral-dependent by class of loans as of June 30, 2022: Real Estate Collateral Non-Real Estate Collateral Farmland $ 895 $ 0 Owner-occupied, nonfarm nonresidential properties 1,163 9 Commercial and Industrial 115 2,090 Multifamily (5 or more) residential properties 1,108 0 Non-owner occupied, nonfarm nonresidential properties 3,262 0 Residential Mortgages secured by first liens 888 0 Total $ 7,431 $ 2,099 The following table presents the amortized cost basis of loans receivable that are individually evaluated and collateral-dependent by class of loans as of December 31, 2021: Real Estate Collateral Non-Real Estate Collateral Farmland $ 920 $ 0 Owner-occupied, nonfarm nonresidential properties 194 9 Commercial and Industrial 1,488 2,351 Other construction loans and all land development and other land loans 438 0 Multifamily (5 or more) residential properties 1,265 0 Non-owner occupied, nonfarm nonresidential properties 3,378 0 Residential Mortgages secured by first liens 435 0 Total $ 8,118 $ 2,360 The following table presents the aging of the amortized cost basis in past-due loans receivable as of June 30, 2022 by class of loans: 30 - 59 60 - 89 Greater Than 89 Total Past Due Loans Receivable Not Past Due Total Farmland $ 148 $ 0 $ 997 $ 1,145 $ 30,504 $ 31,649 Owner-occupied, nonfarm nonresidential properties 63 490 876 1,429 462,493 463,922 Agricultural production and other loans to farmers 0 0 0 0 1,097 1,097 Commercial and Industrial 133 181 502 816 758,601 759,417 Obligations (other than securities and leases) of states and political subdivisions 0 0 0 0 143,488 143,488 Other loans 0 0 0 0 14,524 14,524 Other construction loans and all land development and other land loans 0 0 71 71 341,328 341,399 Multifamily (5 or more) residential properties 357 0 90 447 212,114 212,561 Non-owner occupied, nonfarm nonresidential properties 215 0 1,680 1,895 732,685 734,580 1-4 Family Construction 0 0 0 0 40,990 40,990 Home equity lines of credit 107 344 49 500 115,336 115,836 Residential Mortgages secured by first liens 1,397 467 1,300 3,164 872,810 875,974 Residential Mortgages secured by junior liens 80 41 53 174 62,038 62,212 Other revolving credit plans 44 9 23 76 28,692 28,768 Automobile 43 4 4 51 20,115 20,166 Other consumer 288 205 294 787 50,978 51,765 Credit cards 75 13 3 91 10,958 11,049 Overdrafts 0 0 0 0 356 356 Total $ 2,950 $ 1,754 $ 5,942 $ 10,646 $ 3,899,107 $ 3,909,753 The following table presents the aging of the amortized cost basis in past-due loans receivable as of December 31, 2021 by class of loans: 30 - 59 60 - 89 Greater Than 89 Total Past Due Loans Receivable Not Past Due Total Farmland $ 348 $ 0 $ 0 $ 348 $ 23,420 $ 23,768 Owner-occupied, nonfarm nonresidential properties 278 18 414 710 433,962 434,672 Agricultural production and other loans to farmers 0 0 0 0 1,379 1,379 Commercial and Industrial 377 13 333 723 708,266 708,989 Obligations (other than securities and leases) of states and political subdivisions 0 0 0 0 140,887 140,887 Other loans 0 0 0 0 13,979 13,979 Other construction loans and all land development and other land loans 0 0 77 77 298,792 298,869 Multifamily (5 or more) residential properties 0 10 209 219 215,924 216,143 Non-owner occupied, nonfarm nonresidential properties 0 0 1,792 1,792 661,270 663,062 1-4 Family Construction 0 0 0 0 37,822 37,822 Home equity lines of credit 506 50 172 728 103,789 104,517 Residential Mortgages secured by first liens 1,286 1,145 1,647 4,078 822,651 826,729 Residential Mortgages secured by junior liens 32 24 1 57 56,632 56,689 Other revolving credit plans 56 17 4 77 26,459 26,536 Automobile 45 3 23 71 20,791 20,862 Other consumer 283 158 295 736 48,940 49,676 Credit cards 26 12 23 61 9,874 9,935 Overdrafts 0 0 0 0 278 278 Total $ 3,237 $ 1,450 $ 4,990 $ 9,677 $ 3,625,115 $ 3,634,792 Troubled Debt Restructurings In order to determine whether a borrower is experiencing financial difficulty, an evaluation is performed of the probability that the borrower will be in payment default on any of its debt in the foreseeable future without a loan modification. This evaluation is performed using the Corporation’s internal underwriting policies. The Corporation has no further loan commitments to customers whose loan receivables are classified as a TDR. As of June 30, 2022 and December 31, 2021, the terms of certain loans were modified as TDRs. The modification of the terms of such loans included either or both of the following: a reduction of the stated interest rate of the loan; or an extension of the maturity date at a stated rate of interest lower than the current market rate for new debt with similar risk. The Corporation had an amortized cost in TDRs of $17.8 million and $16.6 million as of June 30, 2022 and December 31, 2021, respectively. The Corporation has allocated $2.6 million and $2.6 million of allowance for those loans as of June 30, 2022 and December 31, 2021, respectively. There were no loans modified as TDRs during the three months ended June 30, 2022. There was one loan modified as a TDR during the six months ended June 30, 2022: Six Months Ended June 30, 2022 Number of Pre-Modification Post-Modification Type of Modification Non-owner occupied, nonfarm nonresidential properties 1 $ 1,784 $ 1,784 Modify Rate and Extend Amortization Total 1 $ 1,784 $ 1,784 There was one loan modified as TDRs during the three months ended June 30, 2021. Three Months Ended June 30, 2021 Number of Pre-Modification Post-Modification Type of Modification Commercial and Industrial 1 $ 578 $ 578 Modify Payment Total 1 $ 578 $ 578 There were three loans modified as TDRs during the six months ended June 30, 2021. Six Months Ended June 30, 2021 Number of Pre-Modification Post-Modification Type of Modification Commercial and Industrial 1 $ 578 $ 578 Modify Payment Multifamily (5 or more) residential properties 1 717 717 Modify Payment Non-owner occupied, nonfarm nonresidential properties 1 1,604 1,604 Modify Payment Total 3 $ 2,899 $ 2,899 The TDRs described above increased the allowance for credit losses by an immaterial amount for the three and six months ended June 30, 2022 and 2021, respectively. A loan receivable is considered to be in payment default once it is 90 days contractually past due under the modified terms. There were no loans modified as TDRs for which there was a payment default within a twelve-month cycle following the modification during the three and six months ended June 30, 2022 and 2021, respectively. There were no principal balances forgiven in connection with the loans restructurings. Generally, nonperforming TDRs are restored to accrual status when the obligation is brought current, has performed in accordance with the contractual terms for a reasonable period of time (generally six months) and the ultimate collectability of the total contractual principal and interest is no longer in doubt. Credit Quality Indicators The Corporation categorizes loans receivable into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. The Corporation analyzes loans individually to classify the loans as to credit risk. The Corporation uses the following definitions for risk ratings: Special Mention: A loan classified as special mention has a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the Corporation’s credit position at some future date. Substandard: A loan classified as substandard is inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. The loan has a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. A substandard loan is characterized by the distinct possibility that the Corporation will sustain some loss if the deficiencies are not corrected. Doubtful: A loan classified as doubtful has all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. The following tables represent the Corporation's credit risk profile by risk rating. Loans receivable not rated as special mention, substandard, or doubtful are considered to be pass rated loans. June 30, 2022 Non-Pass Rated Pass Special Mention Substandard Doubtful Total Non-Pass Total Farmland $ 29,261 $ 1,450 $ 938 $ 0 $ 2,388 $ 31,649 Owner-occupied, nonfarm nonresidential properties 449,366 6,406 8,150 0 14,556 463,922 Agricultural production and other loans to farmers 1,097 0 0 0 0 1,097 Commercial and Industrial 740,370 6,554 11,137 1,356 19,047 759,417 Obligations (other than securities and leases) of states and political subdivisions 143,488 0 0 0 0 143,488 Other loans 14,524 0 0 0 0 14,524 Other construction loans and all land development and other land loans 339,750 1,578 71 0 1,649 341,399 Multifamily (5 or more) residential properties 211,353 100 1,108 0 1,208 212,561 Non-owner occupied, nonfarm nonresidential properties 704,941 6,610 23,029 0 29,639 734,580 Total $ 2,634,150 $ 22,698 $ 44,433 $ 1,356 $ 68,487 $ 2,702,637 December 31, 2021 Non-Pass Rated Pass Special Mention Substandard Doubtful Total Non-Pass Total Farmland $ 21,286 $ 1,514 $ 968 $ 0 $ 2,482 $ 23,768 Owner-occupied, nonfarm nonresidential properties 419,368 6,723 8,581 0 15,304 434,672 Agricultural production and other loans to farmers 1,379 0 0 0 0 1,379 Commercial and Industrial 687,010 7,946 12,654 1,379 21,979 708,989 Obligations (other than securities and leases) of states and political subdivisions 140,887 0 0 0 0 140,887 Other loans 13,979 0 0 0 0 13,979 Other construction loans and all land development and other land loans 294,103 4,221 545 0 4,766 298,869 Multifamily (5 or more) residential properties 214,772 100 1,271 0 1,371 216,143 Non-owner occupied, nonfarm nonresidential properties 631,534 9,628 21,900 0 31,528 663,062 Total $ 2,424,318 $ 30,132 $ 45,919 $ 1,379 $ 77,430 $ 2,501,748 The following tables detail the amortized cost of loans receivable, by year of origination (for term loans) and by risk grade within each portfolio segment as of June 30, 2022. The current period originations may include modifications, extensions and renewals. Term Loans Amortized Cost Basis by Origination Year 2022 2021 2020 2019 2018 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Total Farmland Risk rating Pass $ 8,911 $ 7,782 $ 1,610 $ 3,149 $ 3,497 $ 3,892 $ 420 $ 0 $ 29,261 Special mention 0 0 0 0 0 1,450 0 0 1,450 Substandard 0 388 0 0 0 550 0 0 938 Doubtful 0 0 0 0 0 0 0 0 0 Total $ 8,911 $ 8,170 $ 1,610 $ 3,149 $ 3,497 $ 5,892 $ 420 $ 0 $ 31,649 Owner-occupied, nonfarm nonresidential properties Risk rating Pass $ 67,952 $ 116,666 $ 74,850 $ 72,416 $ 26,633 $ 71,231 $ 19,618 $ 0 $ 449,366 Special mention 0 237 0 888 4,193 1,078 10 0 6,406 Substandard 0 156 386 2,044 821 4,743 0 0 8,150 Doubtful 0 0 0 0 0 0 0 0 0 Total $ 67,952 $ 117,059 $ 75,236 $ 75,348 $ 31,647 $ 77,052 $ 19,628 $ 0 $ 463,922 Agricultural production and other loans to farmers Risk rating Pass $ 129 $ 151 $ 91 $ 70 $ 192 $ 0 $ 464 $ 0 $ 1,097 Special mention 0 0 0 0 0 0 0 0 0 Substandard 0 0 0 0 0 0 0 0 0 Doubtful 0 0 0 0 0 0 0 0 0 Total $ 129 $ 151 $ 91 $ 70 $ 192 $ 0 $ 464 $ 0 $ 1,097 Commercial and Industrial Risk rating Pass $ 117,219 $ 236,523 $ 75,375 $ 21,326 $ 11,010 $ 21,573 $ 257,344 $ 0 $ 740,370 Special mention 0 0 159 431 340 183 5,441 0 6,554 Substandard 0 2,748 984 436 358 1,046 5,565 0 11,137 Doubtful (1) 0 1,356 0 0 0 0 0 0 1,356 Total $ 117,219 $ 240,627 $ 76,518 $ 22,193 $ 11,708 $ 22,802 $ 268,350 $ 0 $ 759,417 Obligations (other than securities and leases) of states and political subdivisions Risk rating Pass $ 11,108 $ 37,217 $ 16,428 $ 4,748 $ 13,747 $ 55,509 $ 4,731 $ 0 $ 143,488 Special mention 0 0 0 0 0 0 0 0 0 Substandard 0 0 0 0 0 0 0 0 0 Doubtful 0 0 0 0 0 0 0 0 0 Total $ 11,108 $ 37,217 $ 16,428 $ 4,748 $ 13,747 $ 55,509 $ 4,731 $ 0 $ 143,488 Other loans Risk rating Pass $ 2,160 $ 5,484 $ 2,505 $ 400 $ 0 $ 0 $ 3,975 $ 0 $ 14,524 Special mention 0 0 0 0 0 0 0 0 0 Substandard 0 0 0 0 0 0 0 0 0 Doubtful 0 0 0 0 0 0 0 0 0 Total $ 2,160 $ 5,484 $ 2,505 $ 400 $ 0 $ 0 $ 3,975 $ 0 $ 14,524 (1) Consists of one loan relationship that was originated in 2015 and modified in 2021. The modification met the requirements to disclose the loan relationship as a new loan during the current period. Term Loans Amortized Cost Basis by Origination Year 2022 2021 2020 2019 2018 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Total Other construction loans and all land development and other land loans Risk rating Pass $ 107,639 $ 96,680 $ 108,607 $ 7,398 $ 9,137 $ 2,063 $ 8,226 $ 0 $ 339,750 Special mention 0 1,511 0 67 0 0 0 0 1,578 Substandard 0 0 0 0 0 0 71 0 71 Doubtful 0 0 0 0 0 0 0 0 0 Total $ 107,639 $ 98,191 $ 108,607 $ 7,465 $ 9,137 $ 2,063 $ 8,297 $ 0 $ 341,399 Multifamily (5 or more) residential properties Risk rating Pass $ 38,463 $ 53,374 $ 54,210 $ 29,892 $ 6,623 $ 26,335 $ 2,456 $ 0 $ 211,353 Special mention 0 0 0 0 0 0 100 0 100 Substandard 0 0 0 661 357 90 0 0 1,108 Doubtful 0 0 0 0 0 0 0 0 0 Total $ 38,463 $ 53,374 $ 54,210 $ 30,553 $ 6,980 $ 26,425 $ 2,556 $ 0 $ 212,561 Non-owner occupied, nonfarm nonresidential properties Risk rating Pass $ 207,920 $ 164,540 $ 62,917 $ 81,646 $ 48,194 $ 131,397 $ 8,327 $ 0 $ 704,941 Special mention 0 0 0 417 518 5,224 451 0 6,610 Substandard 0 810 0 2,277 1,651 16,196 2,095 0 23,029 Doubtful 0 0 0 0 0 0 0 0 0 Total $ 207,920 $ 165,350 $ 62,917 $ 84,340 $ 50,363 $ 152,817 $ 10,873 $ 0 $ 734,580 The following tables detail the amortized cost of loans receivable, by year of origination (for term loans) and by risk grade within each portfolio segment as of December 31, 2021. The current period originations may include modifications, extensions and renewals. Term Loans Amortized Cost Basis by Origination Year 2021 2020 2019 2018 2017 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Total Farmland Risk rating Pass $ 8,203 $ 1,690 $ 3,276 $ 3,547 $ 564 $ 3,545 $ 461 $ 0 $ 21,286 Special mention 0 0 0 0 394 1,120 0 0 1,514 Substandard 388 0 0 0 48 532 0 0 968 Doubtful 0 0 0 0 0 0 0 0 0 Total $ 8,591 $ 1,690 $ 3,276 $ 3,547 $ 1,006 $ 5,197 $ 461 $ 0 $ 23,768 Owner-occupied, nonfarm nonresidential properties Risk rating Pass $ 135,095 $ 78,068 $ 78,621 $ 29,100 $ 40,677 $ 50,079 $ 7,728 $ 0 $ 419,368 Special mention 243 0 903 4,287 135 1,145 10 0 6,723 Substandard 687 416 2,190 868 250 4,152 18 0 8,581 Doubtful 0 0 0 0 0 0 0 0 0 Total $ 136,025 $ 78,484 $ 81,714 $ 34,255 $ 41,062 $ 55,376 $ 7,756 $ 0 $ 434,672 Agricultural production and other loans to farmers Risk rating Pass $ 211 $ 103 $ 76 $ 198 $ 0 $ 0 $ 791 $ 0 $ 1,379 Special mention 0 0 0 0 0 0 0 0 0 Substandard 0 0 0 0 0 0 0 0 0 Doubtful 0 0 0 0 0 0 0 0 0 Total $ 211 $ 103 $ 76 $ 198 $ 0 $ 0 $ 791 $ 0 $ 1,379 Commercial and Industrial Risk rating Pass $ 313,983 $ 84,815 $ 31,375 $ 16,577 $ 12,389 $ 6,777 $ 221,094 $ 0 $ 687,010 Special mention 0 363 793 381 82 844 5,483 0 7,946 Substandard 1,991 800 1,862 452 29 2,016 5,504 0 12,654 Doubtful (1) 1,379 0 0 0 0 0 0 0 1,379 Total $ 317,353 $ 85,978 $ 34,030 $ 17,410 $ 12,500 $ 9,637 $ 232,081 $ 0 $ 708,989 Obligations (other than securities and leases) of states and political subdivisions Risk rating Pass $ 36,853 $ 16,688 $ 8,774 $ 16,957 $ 20,071 $ 36,764 $ 4,780 $ 0 $ 140,887 Special mention 0 0 0 0 0 0 0 0 0 Substandard 0 0 0 0 0 0 0 0 0 Doubtful 0 0 0 0 0 0 0 0 0 Total $ 36,853 $ 16,688 $ 8,774 $ 16,957 $ 20,071 $ 36,764 $ 4,780 $ 0 $ 140,887 Other loans Risk rating Pass $ 5,851 $ 5,305 $ 552 $ 3 $ 0 $ 0 $ 2,268 $ 0 $ 13,979 Special mention 0 0 0 0 0 0 0 0 0 Substandard 0 0 0 0 0 0 0 0 0 Doubtful 0 0 0 0 0 0 0 0 0 Total $ 5,851 $ 5,305 $ 552 $ 3 $ 0 $ 0 $ 2,268 $ 0 $ 13,979 (1) Consists of one loan relationship that was originated in 2015 and modified in 2021. The modification met the requirements to disclose the loan relationship as a new loan during the current period. Term Loans Amortized Cost Basis by Origination Year 2021 2020 2019 2018 2017 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Total Other construction loans and all land development and other land loans Risk rating Pass $ 98,406 $ 168,372 $ 8,752 $ 11,141 $ 853 $ 898 $ 5,681 $ 0 $ 294,103 Special mention 1,500 0 650 0 2,071 0 0 0 4,221 Substandard 0 0 0 29 439 0 77 0 545 Doubtful 0 0 0 0 0 0 0 0 0 Total $ 99,906 $ 168,372 $ 9,402 $ 11,170 $ 3,363 $ 898 $ 5,758 $ 0 $ 298,869 Multifamily (5 or more) residential properties Risk rating Pass $ 74,687 $ 55,663 $ 33,436 $ 7,937 $ 27,729 $ 12,882 $ 2,438 $ 0 $ 214,772 Special mention 0 0 0 0 0 100 0 0 100 Substandard 0 6 682 379 204 0 0 0 1,271 Doubtful 0 0 0 0 0 0 0 0 0 Total $ 74,687 $ 55,669 $ 34,118 $ 8,316 $ 27,933 $ 12,982 $ 2,438 $ 0 $ 216,143 Non-owner occupied, nonfarm nonresidential properties Risk rating Pass $ 194,800 $ 125,039 $ 84,943 $ 52,233 $ 42,714 $ 123,021 $ 8,784 $ 0 $ 631,534 Special mention 0 0 428 1,004 189 5,556 2,451 0 9,628 Substandard 826 0 2,305 1,662 4,638 12,134 335 0 21,900 Doubtful 0 0 0 0 0 0 0 0 0 Total $ 195,626 $ 125,039 $ 87,676 $ 54,899 $ 47,541 $ 140,711 $ 11,570 $ 0 $ 663,062 The Corporation considers the performance of the loan portfolio and its impact on the allowance for credit losses. For 1-4 family construction, home equity lines of credit, residential mortgages secured by first liens, residential mortgages secured by junior liens, automobile, credit cards, other revolving credit plans and other consumer segments, the Corporation evaluates credit quality based on the performance status of the loan, which was previously presented, and by payment activity. Nonperforming loans include loans receivable on nonaccrual status and loans receivable past due over 89 days and still accruing interest. June 30, 2022 December 31, 2021 Performing Nonperforming Total Performing Nonperforming Total 1-4 Family Construction $ 40,990 $ 0 $ 40,990 $ 37,822 $ 0 $ 37,822 Home equity lines of credit 115,250 586 115,836 103,693 824 104,517 Residential Mortgages secured by first liens 871,948 4,026 875,974 823,182 3,547 826,729 Residential Mortgages secured by junior liens 62,012 200 62,212 56,542 147 56,689 Other revolving credit plans 28,719 49 28,768 26,523 13 26,536 Automobile 20,136 30 20,166 20,826 36 20,862 Other consumer 51,129 636 51,765 49,118 558 49,676 Total $ 1,190,184 $ 5,527 $ 1,195,711 $ 1,117,706 $ 5,125 $ 1,122,831 The following tables detail the amortized cost of loans receivable, by year of origination (for term loans) and by payment activity within each portfolio segment as of June 30, 2022. The current period originations may include modifications, extensions and renewals. Term Loans Amortized Cost Basis by Origination Year 2022 2021 2020 2019 2018 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Total 1-4 Family Construction Payment performance Performing $ 10,338 $ 22,977 $ 6,740 $ 740 $ 64 $ 0 $ 131 $ 0 $ 40,990 Nonperforming 0 0 0 0 0 0 0 0 0 Total $ 10,338 $ 22,977 $ 6,740 $ 740 $ 64 $ 0 $ 131 $ 0 $ 40,990 Home equity lines of credit Payment performance Performing $ 19,051 $ 16,290 $ 12,999 $ 8,529 $ 8,637 $ 4 |
LEASES
LEASES | 6 Months Ended |
Jun. 30, 2022 | |
Leases [Abstract] | |
LEASES | LEASES Operating lease assets represent the Corporation's right to use an underlying asset during the lease term and operating lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease assets and liabilities are recognized at lease commencement based on the present value of the remaining lease payments using a discount rate that represents our incremental borrowing rate at the lease commencement date. Operating lease cost, which is comprised of amortization of the operating lease asset and the implicit interest accreted on the operating lease liability, is recognized on a straight-line basis over the lease term, and is recorded in net occupancy expense in the condensed consolidated statements of income. The Corporation leases certain full-service branch offices, land and equipment. Leases with an initial term of twelve months or less are not recorded on the balance sheet. Most leases include one or more options to renew and the exercise of the lease renewal options are at the Corporation's sole discretion. The Corporation includes lease extension and termination options in the lease term if, after considering relevant economic factors, it is reasonably certain the Corporation will exercise the option. Certain lease agreements of the Corporation include rental payments adjusted periodically for changes in the consumer price index. Leases Classification June 30, 2022 December 31, 2021 Assets: Operating lease assets Operating lease assets $ 25,471 $ 19,928 Finance lease assets Premises and equipment, net (1) 322 358 Total leased assets $ 25,793 $ 20,286 Liabilities: Operating lease liabilities Operating lease liabilities $ 26,785 $ 21,159 Finance lease liabilities Accrued interest payable and other liabilities 426 469 Total leased liabilities $ 27,211 $ 21,628 (1) Finance lease assets are recorded net of accumulated amortization of $894 thousand as of June 30, 2022 and $858 thousand as of December 31, 2021. The components of the Corporation's net lease expense for the three and six months ended June 30, 2022 and 2021, respectively, were as follows: Three Months Ended June 30, Six Months Ended June 30, Lease Cost Classification 2022 2021 2022 2021 Operating lease cost Net occupancy expense $ 566 $ 437 $ 1,058 $ 877 Variable lease cost Net occupancy expense 17 18 30 35 Finance lease cost: Amortization of leased assets Net occupancy expense 18 18 36 36 Interest on lease liabilities Interest expense - borrowed funds 5 6 10 12 Sublease income (1) Net occupancy expense (17) (19) (33) (38) Net lease cost $ 589 $ 460 $ 1,101 $ 922 (1) Sublease income excludes rental income from owned properties. The following table sets forth future minimum rental payments under noncancellable leases with initial terms in excess of one year as of June 30, 2022: Maturity of Lease Liabilities as of June 30, 2022 Operating Leases (1) Finance Leases Total 2022 $ 1,024 $ 52 $ 1,076 2023 1,961 105 2,066 2024 1,890 105 1,995 2025 1,883 105 1,988 2026 1,854 105 1,959 After 2026 30,622 0 30,622 Total lease payments 39,234 472 39,706 Less: Interest 12,449 46 12,495 Present value of lease liabilities $ 26,785 $ 426 $ 27,211 (1) Operating lease payments include payments related to options to extend lease terms that are reasonably certain of being exercised and exclude $7.8 million of legally binding minimum lease payments for leases signed, but not yet commenced. Lease terms and discount rates related to the Corporation's lease liabilities as of June 30, 2022 and December 31, 2021 were as follows: Lease Term and Discount Rate June 30, 2022 December 31, 2021 Weighted-average remaining lease term (years) Operating leases 22.1 18.8 Finance leases 4.5 5.0 Weighted-average discount rate Operating leases 3.37 % 3.42 % Finance leases 4.49 % 4.49 % Other information related to the Corporation's lease liabilities as of June 30, 2022 and 2021, respectively, was as follows: Other Information June 30, 2022 June 30, 2021 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 581 $ 452 |
LEASES | LEASES Operating lease assets represent the Corporation's right to use an underlying asset during the lease term and operating lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease assets and liabilities are recognized at lease commencement based on the present value of the remaining lease payments using a discount rate that represents our incremental borrowing rate at the lease commencement date. Operating lease cost, which is comprised of amortization of the operating lease asset and the implicit interest accreted on the operating lease liability, is recognized on a straight-line basis over the lease term, and is recorded in net occupancy expense in the condensed consolidated statements of income. The Corporation leases certain full-service branch offices, land and equipment. Leases with an initial term of twelve months or less are not recorded on the balance sheet. Most leases include one or more options to renew and the exercise of the lease renewal options are at the Corporation's sole discretion. The Corporation includes lease extension and termination options in the lease term if, after considering relevant economic factors, it is reasonably certain the Corporation will exercise the option. Certain lease agreements of the Corporation include rental payments adjusted periodically for changes in the consumer price index. Leases Classification June 30, 2022 December 31, 2021 Assets: Operating lease assets Operating lease assets $ 25,471 $ 19,928 Finance lease assets Premises and equipment, net (1) 322 358 Total leased assets $ 25,793 $ 20,286 Liabilities: Operating lease liabilities Operating lease liabilities $ 26,785 $ 21,159 Finance lease liabilities Accrued interest payable and other liabilities 426 469 Total leased liabilities $ 27,211 $ 21,628 (1) Finance lease assets are recorded net of accumulated amortization of $894 thousand as of June 30, 2022 and $858 thousand as of December 31, 2021. The components of the Corporation's net lease expense for the three and six months ended June 30, 2022 and 2021, respectively, were as follows: Three Months Ended June 30, Six Months Ended June 30, Lease Cost Classification 2022 2021 2022 2021 Operating lease cost Net occupancy expense $ 566 $ 437 $ 1,058 $ 877 Variable lease cost Net occupancy expense 17 18 30 35 Finance lease cost: Amortization of leased assets Net occupancy expense 18 18 36 36 Interest on lease liabilities Interest expense - borrowed funds 5 6 10 12 Sublease income (1) Net occupancy expense (17) (19) (33) (38) Net lease cost $ 589 $ 460 $ 1,101 $ 922 (1) Sublease income excludes rental income from owned properties. The following table sets forth future minimum rental payments under noncancellable leases with initial terms in excess of one year as of June 30, 2022: Maturity of Lease Liabilities as of June 30, 2022 Operating Leases (1) Finance Leases Total 2022 $ 1,024 $ 52 $ 1,076 2023 1,961 105 2,066 2024 1,890 105 1,995 2025 1,883 105 1,988 2026 1,854 105 1,959 After 2026 30,622 0 30,622 Total lease payments 39,234 472 39,706 Less: Interest 12,449 46 12,495 Present value of lease liabilities $ 26,785 $ 426 $ 27,211 (1) Operating lease payments include payments related to options to extend lease terms that are reasonably certain of being exercised and exclude $7.8 million of legally binding minimum lease payments for leases signed, but not yet commenced. Lease terms and discount rates related to the Corporation's lease liabilities as of June 30, 2022 and December 31, 2021 were as follows: Lease Term and Discount Rate June 30, 2022 December 31, 2021 Weighted-average remaining lease term (years) Operating leases 22.1 18.8 Finance leases 4.5 5.0 Weighted-average discount rate Operating leases 3.37 % 3.42 % Finance leases 4.49 % 4.49 % Other information related to the Corporation's lease liabilities as of June 30, 2022 and 2021, respectively, was as follows: Other Information June 30, 2022 June 30, 2021 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 581 $ 452 |
DEPOSITS
DEPOSITS | 6 Months Ended |
Jun. 30, 2022 | |
Deposits [Abstract] | |
DEPOSITS | DEPOSITS The following table reflects time certificates of deposit accounts included in total deposits and their remaining maturities at June 30, 2022: Time deposits maturing: 2022 $ 134,701 2023 68,882 2024 36,206 2025 38,976 2026 10,694 Thereafter 14,818 $ 304,277 Certificates of deposits of $250 thousand or more totaled $90.9 million and $116.6 million at June 30, 2022 and December 31, 2021, respectively. The Corporation had $27.4 million and $52.9 million in reciprocal ICS deposits at June 30, 2022 and December 31, 2021, respectively. |
BORROWINGS
BORROWINGS | 6 Months Ended |
Jun. 30, 2022 | |
Debt Disclosure [Abstract] | |
BORROWINGS | BORROWINGS At June 30, 2022 and December 31, 2021, the Corporation had available one $10.0 million unsecured line of credit with an unaffiliated institution. Borrowings under the line of credit bear interest at a variable rate equal to SOFR plus 2.85%. There were no borrowings under the line of credit at June 30, 2022 and December 31, 2021. FHLB Borrowings The Bank has the ability to borrow funds from the Federal Home Loan Bank ("FHLB"). The Bank maintains a $150.0 million line-of-credit (Open Repo Plus) with the FHLB which is a revolving term commitment available on an overnight basis. The term of this commitment may not exceed 364 days and it reprices daily at market rates. Under terms of a blanket collateral agreement with the FHLB, the line-of-credit and long term advances are secured by FHLB stock and the Bank pledges its single-family residential mortgage loan portfolio, certain commercial real estate loans, and certain agriculture real estate loans as security for any advances. Total loans receivable pledged to the FHLB at June 30, 2022, and December 31, 2021, were $1.4 billion and $1.3 billion, respectively. The Bank could obtain advances of up to approximately $1.0 billion from the FHLB at June 30, 2022 and $932.7 million at December 31, 2021. At June 30, 2022 and December 31, 2021, the Bank had no advances from the FHLB. At June 30, 2022 and December 31, 2021, municipal deposit letters of credit issued by the FHLB on behalf of the Bank naming applicable municipalities as beneficiaries were $15.0 million and $10.4 million, respectively. The letters of credit were utilized in place of securities pledged to the municipalities for their deposits maintained at the Bank. Other Borrowings At June 30, 2022 and December 31, 2021, the Bank had no outstanding borrowings from unaffiliated institutions under overnight borrowing agreements. Subordinated Debentures In 2007, the Corporation issued two $10.0 million floating rate trust preferred securities as part of a pooled offering of such securities. The interest rate on each offering is determined quarterly and floats based on the three-month LIBOR plus 1.55%. The all-in rate was 3.38% at June 30, 2022 and 1.75% at December 31, 2021. The Corporation issued subordinated debentures to the trusts in exchange for the proceeds of the offerings, which debentures represent the sole assets of the trusts. The subordinated debentures must be redeemed no later than 2037. The Corporation may redeem the debentures, in whole or in part, at face value at any time. The Corporation has the option to defer interest payments from time to time for a period not to exceed five Subordinated Notes In June 2021, the Corporation sold $85.0 million aggregate principal amount of its fixed-to-floating rate subordinated notes to eligible purchasers in a private offering in reliance on the exemption from the registration requirements of Section 4(a)(2) of the Securities Act and the provisions of Rule 506 of Regulation D thereunder. The notes will mature in June 2031, and initially bear interest at a fixed rate of 3.25% per annum, payable semi-annually in arrears, to, but excluding, June 15, 2026, and thereafter to, but excluding, the maturity date or earlier redemption, the interest rate will reset quarterly to an interest rate per annum equal to the then current three-month average Secured Overnight Financing Rate plus 2.58%. The net proceeds from the sale were approximately $83.5 million, after deducting offering expenses. These subordinated notes were designed to qualify as Tier 2 capital under the Federal Reserve’s capital guidelines and were given an investment grade rating of BBB- by Kroll Bond Rating Agency. The unamortized debt issuance costs were $1.2 million and $1.3 million as of June 30, 2022 and December 31, 2021, respectively. |
OFF-BALANCE SHEET COMMITMENTS A
OFF-BALANCE SHEET COMMITMENTS AND CONTINGENCIES | 6 Months Ended |
Jun. 30, 2022 | |
Fair Value Disclosures [Abstract] | |
OFF-BALANCE SHEET COMMITMENTS AND CONTINGENCIES | OFF-BALANCE SHEET COMMITMENTS AND CONTINGENCIES Financial Instruments with Off-Balance Sheet Risk Loan commitments are made to accommodate the financial needs of the Corporation’s customers commitments that result in market risk. Standby letters of credit commit the Corporation to make payments on behalf of customers when certain specified future events occur. They are primarily issued to facilitate customers’ trade transactions. Both arrangements have credit risk, essentially the same as that involved in extending loans to customers, and are subject to the Corporation’s normal credit policies. Collateral is obtained based on a credit assessment of the customer. The Corporation's maximum obligation to extend credit for loan commitments (unfunded loans and unused lines of credit) and standby letters of credit outstanding as of June 30, 2022 and December 31, 2021 were as follows: June 30, 2022 December 31, 2021 Fixed Rate Variable Rate Fixed Rate Variable Rate Commitments to make loans $ 82,054 $ 374,464 $ 94,924 $ 323,013 Unused lines of credit 17,804 679,710 13,265 663,903 Standby letters of credit 15,807 1,640 15,063 1,623 Commitments to make loans are generally made for periods of 60 days or less. Other Off-Balance Sheet Commitments The Corporation makes investments in limited partnerships, including certain small business investment corporations and low income housing partnerships. Capital contributions for investments in small business companies ("SBIC") and other limited partnerships, reported in FHLB and other restricted stock holdings and investments on the condensed consolidated balance sheet, as of June 30, 2022 and December 31, 2021 were $16.4 million and $14.5 million, respectively. Unfunded capital commitments in investments in SBIC's and other limited partnerships totaled $6.1 million and $8.0 million as of June 30, 2022 and December 31, 2021, respectively. These investments are accounted for under the equity method of accounting. The carrying value of investments in the low income housing partnerships, reported in FHLB and other restricted stock holdings and investments on the consolidated balance sheet, as of June 30, 2022 and December 31, 2021 were $4.9 million and $5.3 million, respectively. The related amortization for the three and six months ended June 30, 2022 were $197 thousand and $395 thousand, respectively, and for the three and six months ended June 30, 2021 were $189 thousand and $378 thousand, respectively. Unfunded commitments, reported in accrued interest payable and other liabilities on the condensed consolidated balance sheets, as of June 30, 2022 and December 31, 2021 were $1.4 million and $2.1 million, respectively. Allowance for Credit Losses on Unfunded Loan Commitments The Corporation maintains an allowance for credit losses on unfunded commercial lending commitments and letters of credit to provide for the risk of loss inherent in these arrangements. The allowance is computed using a methodology similar to that used to determine the allowance for credit losses for loans receivable, modified to take into account the probability of a draw-down on the commitment. The provision for credit losses on unfunded loan commitments is included in the provision for credit losses on the Corporation's condensed consolidated statements of income. The allowance for unfunded commitments is included in other liabilities in the condensed consolidated balance sheets. Note 4, "Loans Receivable and Allowance for Credit Losses," in the condensed consolidated financial statements provides more detail concerning the provision for credit losses related to the loan portfolio of the Corporation. The following table presents activity in the allowance for credit losses on unfunded loan commitments for the three and six months ended June 30, 2022 and 2021, respectively: Three Months Ended Six Months Ended June 30, June 30, 2022 2021 2022 2021 Beginning balance $ 586 $ 0 $ 0 $ 0 Provision for credit losses on unfunded loan commitments (1) 0 0 586 0 Ending balance 586 $ 0 $ 586 $ 0 (1) Excludes provision for credit losses related to the loan portfolio. Litigation The Corporation is subject to claims and lawsuits that arise primarily in the ordinary course of business. It is the opinion of management the disposition or ultimate resolution of such claims and lawsuits will not have a material adverse effect on the consolidated financial position, results of operations and cash flows of the Corporation. |
STOCK COMPENSATION
STOCK COMPENSATION | 6 Months Ended |
Jun. 30, 2022 | |
Share-Based Payment Arrangement [Abstract] | |
STOCK COMPENSATION | STOCK COMPENSATION The Corporation has a stock incentive plan, which is administered by a committee of the Board of Directors and which permits the Corporation to provide various types of stock-based compensation to its key employees, directors, and/or consultants, including time-based and performance-based shares of restricted stock. The Corporation maintains the CNB Financial Corporation 2019 Omnibus Incentive Plan (the "2019 Stock Incentive Plan"), which was approved by the Corporation’s shareholders and became effective on April 16, 2019. The 2019 Stock Incentive Plan provides for up to 507,671 shares of common stock to be awarded in the form of nonqualified options or restricted stock. For key employees, the vesting of time-based restricted stock is one-third, one-fourth, or one-fifth of the granted restricted shares per year, beginning one year after the grant date, with 100% vesting on the third, fourth or fifth anniversary of the grant date, respectively. Prior to 2018, for non-employee directors, the vesting schedule was one-third of the granted restricted shares per year, beginning one year after the grant date, with 100% vested on the third anniversary of the grant date. Beginning in 2018, stock compensation received by non-employee directors vests immediately. At June 30, 2022, there was no unrecognized compensation cost related to stock-based compensation awarded under this plan and, except for the time-based and performance-based restricted stock awards disclosed below and in previous filings, no other stock-based compensation was granted during the three and six month period ended June 30, 2022 and 2021. Compensation expense for the restricted stock awards is recognized over the requisite service period based on the fair value of the shares at the date of grant on a straight-line basis. Non-vested restricted stock awards are recorded as a reduction of additional paid-in-capital in shareholders’ equity until earned. Compensation expense resulting from time-based, performance-based and director restricted stock awards was $256 thousand and $757 thousand for the three and six months ended June 30, 2022 and $303 thousand and $812 thousand for the three and six months ended June 30, 2021. The total income tax benefit related to the recognized compensation cost of vested restricted stock awards was $54 thousand and $159 thousand for the three and six months ended June 30, 2022 and $64 thousand and $171 thousand for the three and six months ended June 30, 2021, respectively. A summary of changes in time-based unvested restricted stock awards for the three months ended June 30, 2022 follows: Shares Per Share Weighted Average Grant Date Fair Value Unvested at beginning of period 88,891 $ 20.10 Granted 0 0.00 Forfeited (1,090) 25.06 Vested (89) 25.27 Unvested at end of period 87,712 $ 20.18 A summary of changes in time-based unvested restricted stock awards for the six months ended June 30, 2022 follows: Shares Per Share Weighted Average Grant Date Fair Value Unvested at beginning of period 69,643 $ 24.18 Granted 44,369 26.71 Forfeited (1,090) 25.06 Vested (25,210) 24.78 Unvested at end of period 87,712 $ 20.18 The above tables exclude 11,790 shares in restricted stock awards that were granted at a weighted average fair value of $26.71 and immediately vested. As of June 30, 2022 and December 31, 2021, there was $1.9 million and $1.1 million of total unrecognized compensation cost related to unvested restricted stock awards, respectively. The fair value of shares vested was $2 thousand and $987 thousand during the three and six months ended June 30, 2022 and $19 thousand and $805 thousand during the three and six months ended June 30, 2021. In addition to the time-based restricted stock disclosed above, the Corporation’s Board of Directors grants performance-based restricted stock awards (“PBRSAs”) to key employees. The number of PBRSAs will depend on certain performance conditions earned over a three year period and are also subject to service-based vesting. In 2022, awards with a maximum of 13,761 shares in aggregate were granted to key employees. In 2021, awards with a maximum of 18,210 shares in aggregate were granted to key employees. In 2020, awards with a maximum of 18,100 shares in aggregate were granted to key employees. In 2021, the 2019 PBRSAs were fully earned and in 2022, 11,895 shares were fully distributed. The fair value of the shares distributed in 2022 was $318 thousand. |
EARNINGS PER COMMON SHARE
EARNINGS PER COMMON SHARE | 6 Months Ended |
Jun. 30, 2022 | |
Earnings Per Share [Abstract] | |
EARNINGS PER COMMON SHARE | EARNINGS PER COMMON SHARE Basic earnings per common share is computed by dividing net income, excluding net earnings allocated to participating securities, by the weighted average number of shares outstanding during the applicable period, excluding outstanding participating securities. Diluted earnings per common share is computed using the weighted average number of shares determined for the basic computation plus the dilutive effect of potential common shares issuable under certain stock compensation plans. For the three and six months ended June 30, 2022 and 2021, there were no outstanding stock options to include in the diluted earnings per common share calculations. Unvested share-based payment awards that contain nonforfeitable rights to dividends or dividend equivalents (whether paid or unpaid) are participating securities and are included in the computation of earnings per common share pursuant to the two-class method. The Corporation has determined that its outstanding unvested time-based stock awards are participating securities. The computation of basic and diluted earnings per common share is shown below: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Basic earnings per common share computation: Net income per condensed consolidated statements of income $ 14,363 $ 12,915 $ 28,533 $ 26,021 Net earnings allocated to participating securities (68) (47) (132) (92) Net earnings allocated to common stock $ 14,295 $ 12,868 $ 28,401 $ 25,929 Distributed earnings allocated to common stock $ 2,935 $ 2,859 $ 5,879 $ 5,718 Undistributed earnings allocated to common stock 11,360 10,009 22,522 20,211 Net earnings allocated to common stock $ 14,295 $ 12,868 $ 28,401 $ 25,929 Weighted average common shares outstanding, including shares considered participating securities 16,860 16,885 16,871 16,870 Less: Average participating securities (78) (60) (75) (58) Weighted average shares 16,782 16,825 16,796 16,812 Basic earnings per common share $ 0.85 $ 0.76 $ 1.69 $ 1.54 Diluted earnings per common share computation: Net earnings allocated to common stock $ 14,295 $ 12,868 $ 28,401 $ 25,929 Weighted average common shares outstanding for basic earnings per common share 16,782 16,825 16,796 16,812 Add: Dilutive effects of performance based-shares 33 0 33 0 Weighted average shares and dilutive potential common shares 16,815 16,825 16,829 16,812 Diluted earnings per common share $ 0.85 $ 0.76 $ 1.69 $ 1.54 |
DERIVATIVE INSTRUMENTS
DERIVATIVE INSTRUMENTS | 6 Months Ended |
Jun. 30, 2022 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
DERIVATIVE INSTRUMENTS | DERIVATIVE INSTRUMENTS On September 7, 2018, the Corporation executed an interest rate swap agreement with a 5-year term and an effective date of September 15, 2018 in order to hedge cash flows associated with $10.0 million of a subordinated trust preferred security that was issued by the Corporation during 2007 and elected cash flow hedge accounting for the agreement. The Corporation’s objective in using this derivative is to add stability to interest expense and to manage its exposure to interest rate risk. The interest rate swap involves the receipt of variable-rate amounts in exchange for fixed-rate payments from September 15, 2018 to September 15, 2023 without the exchange of the underlying notional amount. At June 30, 2022, the variable rate on the subordinated trust preferred security was 3.38% (LIBOR plus 155 basis points) and the Corporation was paying 4.53% (2.98% fixed rate plus 155 basis points). As of June 30, 2022 and December 31, 2021, no derivatives were designated as fair value hedges or hedges of net investments in foreign operations. Additionally, the Corporation does not use derivatives for trading or speculative purposes and currently does not have any derivatives that are not designated as hedges. The following tables provide information about the amounts and locations of activity related to the interest rate swaps designated as cash flow hedges within the Corporation’s condensed consolidated balance sheets and statements of income as of June 30, 2022 and December 31, 2021 and for the three and six months ended June 30, 2022 and 2021: Fair value as of Balance Sheet June 30, 2022 December 31, 2021 Interest rate contracts Accrued interest and $ 18 $ (388) For the Three Months (a) (b) (c) (d) (e) Interest rate contracts $ 110 Interest expense – $ (51) Other $ 0 For the Six Months (a) (b) (c) (d) (e) Interest rate contracts $ 322 Interest expense – $ (118) Other $ 0 For the Three Months (a) (b) (c) (d) (e) Interest rate contracts $ 50 Interest expense – $ (62) Other $ 0 For the Six Months (a) (b) (c) (d) (e) Interest rate contracts $ 134 Interest expense – $ (131) Other $ 0 (a) Amount of Gain or (Loss) Recognized in Other Comprehensive Loss on Derivative (Effective Portion), net of tax (b) Location of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Loss into Income (Effective Portion) (c) Amount of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Loss into Income (Effective Portion) (d) Location of Gain or (Loss) Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing) (e) Amount of Gain or (Loss) Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing) Amounts reported in accumulated other comprehensive income (loss) related to the interest rate swap will be reclassified to interest expense as interest payments are made on the subordinated notes and debentures. Such amounts reclassified from accumulated other comprehensive income (loss) to interest expense in the next twelve months are expected to be $115 thousand. As of June 30, 2022 and December 31, 2021, a cash collateral balance in the amount of $1.1 million and $1.1 million, respectively, was maintained with a counterparty to the interest rate swaps. These balances are included in interest-bearing deposits with other banks on the condensed consolidated balance sheets. The Corporation entered into certain interest rate swap contracts that are not designated as hedging instruments. These derivative contracts relate to transactions in which the Corporation enters into an interest rate swap with a customer while at the same time entering into an offsetting interest rate swap with another financial institution. In connection with each swap transaction, the Corporation agrees to pay interest to the customer on a notional amount at a variable interest rate and receive interest from the customer on a similar notional amount at a fixed interest rate. Concurrently, the Corporation agrees to pay another financial institution the same fixed interest rate on the same notional amount and receive the same variable interest rate on the same notional amount. The transaction allows the Corporation’s customers to effectively convert a variable rate loan to a fixed rate. Because the Corporation acts as an intermediary for its customer, changes in the fair value of the underlying derivative contracts offset each other and do not impact the Corporation’s results of operations. The Corporation pledged cash collateral to another financial institution with a balance $373 thousand as of June 30, 2022 and $3.4 million as of December 31, 2021. This balance is included in interest-bearing deposits with other banks on the condensed consolidated balance sheets. The Corporation may require its customers to post cash or securities as collateral on its program of back-to-back swaps depending upon the specific facts and circumstances surrounding each loan and individual swap. In addition, certain language is included in the International Swaps and Derivatives Association agreement and loan documents where, in default situations, the Corporation is permitted to access collateral supporting the loan relationship to recover any losses suffered on the derivative asset or liability. The Corporation may be required to post additional collateral to swap counterparties in the future in proportion to potential increases in unrealized loss positions. The following table provides information about the amounts and locations of activity related to the back-to-back interest rate swaps within the Corporation’s condensed consolidated balance sheet as of June 30, 2022 and December 31, 2021: Notional Weighted Weighted Weighted Average Fair June 30, 2022 3rd Party interest rate swaps $ 32,095 5.44 4.12 % 1 month LIBOR + 2.27% $ 441 (a) Customer interest rate swaps (32,095) 5.44 4.12 % 1 month LIBOR + 2.27% (441) (b) December 31, 2021 3rd Party interest rate swaps $ 32,768 5.8 4.12 % 1 month LIBOR + 2.27% $ 2,124 (a) Customer interest rate swaps (32,768) 5.8 4.12 % 1 month LIBOR + 2.27% (2,124) (b) (a) Reported in accrued interest receivable and other assets within the condensed consolidated balance sheets (b) Reported in accrued interest payable and other liabilities within the condensed consolidated balance sheets |
FAIR VALUE
FAIR VALUE | 6 Months Ended |
Jun. 30, 2022 | |
Fair Value Disclosures [Abstract] | |
FAIR VALUE | FAIR VALUE Fair Value Measurement Fair value is defined 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 following three levels of inputs are used to measure fair value: Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. Level 2: Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. Level 3: Significant unobservable inputs that reflect a company’s own assumptions about the assumptions that market participants would use in pricing an asset or liability. The Corporation used the following methods and significant assumptions to estimate fair value: Investment Securities : The fair values of most equity securities and debt securities AFS are determined by obtaining quoted prices on nationally recognized securities exchanges (Level 1) or matrix pricing, which is a mathematical technique widely used in the industry to value debt securities without relying exclusively on quoted prices for the specific securities but rather relying on the securities’ relationship to other benchmark quoted securities (Level 2). These models utilize the market approach with standard inputs that include, but are not limited to benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers and reference data. For certain securities that observable inputs about the specific issuer are not available, fair values are estimated using observable data from other securities presumed to be similar or other market data on other similar securities (Level 3). Loans Held for Sale : Loans held for sale are carried at the lower of cost or fair value, which is evaluated on a loan-level basis. The fair value of loans held for sale is determined using quoted prices for similar assets, adjusted for specific attributes of that loan or other observable market data, such as outstanding commitments from third party investors (Level 2). Derivatives : The fair values of derivatives are based on valuation models using observable market data as of the measurement date (Level 2). The Corporation's derivatives are traded in an over-the-counter market where quoted market prices are not always available. Therefore, the fair values of derivatives are determined using quantitative models that utilize multiple market inputs. The inputs will vary based on the type of derivative, but could include interest rates, prices and indices to generate continuous yield or pricing curves, prepayment rates, and volatility factors to value the position. The majority of market inputs are actively quoted and can be validated through external sources, including brokers, market transactions and third-party pricing services. Individually Evaluated Loans : The fair value of individually evaluated loans with specific allocations of the allowance for credit losses is generally based on recent real estate appraisals prepared by third-parties. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. Adjustments are routinely made in the appraisal process by the appraisers to adjust for differences between the comparable sales and income data available. Management also adjusts appraised values based on the length of time that has passed since the appraisal date and other factors. Such adjustments are usually significant and typically result in a Level 3 classification of the inputs for determining fair value. Non-real estate collateral may be valued using an appraisal, net book value per the borrower's financial statements, or aging reports, adjusted or discounted based on management's historical knowledge, changes in market conditions from the time of the valuation, and management's expertise and knowledge of the client and client's business, resulting in a Level 3 fair value classification. Individually evaluated loans are evaluated on a quarterly basis for additional impairment and adjusted in accordance with the allowance policy. Assets and liabilities measured at fair value on a recurring basis are as follows at June 30, 2022 and December 31, 2021: Fair Value Measurements at June 30, 2022 Using: Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Description Total (Level 1) (Level 2) (Level 3) Assets: Securities Available-For-Sale: U.S. Government sponsored entities $ 2,211 $ 0 $ 2,211 $ 0 States and political subdivisions 103,509 0 103,509 0 Residential and multi-family mortgage 244,513 0 244,513 0 Corporate notes and bonds 39,080 0 39,080 0 Pooled SBA 15,094 0 15,094 0 Total Securities Available-For-Sale $ 404,407 $ 0 $ 404,407 $ 0 Interest Rate swaps $ 441 $ 0 $ 441 $ 0 Equity Securities: Corporate equity securities $ 6,272 $ 6,272 $ 0 $ 0 Mutual funds 2,591 2,591 0 0 Corporate notes and bonds 676 676 0 0 Total Trading Securities $ 9,539 $ 9,539 $ 0 $ 0 Liabilities: Interest Rate Swaps $ (423) $ 0 $ (423) $ 0 Fair Value Measurements at December 31, 2021 Using: Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Description Total (Level 1) (Level 2) (Level 3) Assets: Securities Available-For-Sale: U.S. Government sponsored entities $ 111,748 $ 0 $ 111,748 $ 0 States and political subdivisions 103,712 0 103,712 0 Residential and multi-family mortgage 434,635 4,995 429,640 0 Corporate notes and bonds 28,064 0 28,064 0 Pooled SBA 19,032 0 19,032 0 Total Securities Available-For-Sale $ 697,191 $ 4,995 $ 692,196 $ 0 Interest Rate swaps $ 2,124 $ 0 $ 2,124 $ 0 Equity Securities: Corporate equity securities $ 6,715 $ 6,715 $ 0 $ 0 Mutual funds 2,566 2,566 0 0 Certificates of deposit 506 506 0 0 Corporate notes and bonds 579 579 0 0 Total Trading Securities $ 10,366 $ 10,366 $ 0 $ 0 Liabilities: Interest Rate Swaps $ (2,512) $ 0 $ (2,512) $ 0 The table below presents a reconciliation of the fair value of securities AFS measured on a recurring basis using significant unobservable inputs (Level 3) for the three months ended June 30, 2021: Corporate Notes and Bonds Balance, April 1, 2021 $ 2,250 Purchases 6,000 Total gains or (losses): Included in other comprehensive income (loss) 76 Settlements 0 Transfers into Level 3 1,500 Transfers out of Level 3 0 Balance, June 30, 2021 $ 9,826 The Corporation's corporate notes and bonds with a fair value of $1.5 million for the three months ended June 30, 2021 were transferred out of Level 2 and into Level 3 because of a lack of observable market data for these investments due to a decrease in the market activity for these securities. The table below presents a reconciliation of the fair value of securities AFS measured on a recurring basis using significant unobservable inputs (Level 3) for the six months ended June 30, 2021: States and Political Subdivisions Corporate Notes and Bonds Balance, January 1, 2021 $ 64 $ 0 Purchases 0 6,750 Total gains or (losses): Included in other comprehensive income (loss) 0 76 Settlements (64) 0 Transfers into Level 3 0 3,000 Transfers out of Level 3 0 0 Balance, June 30, 2021 $ 0 $ 9,826 The Corporation's corporate notes and bonds with a fair value of $3.0 million for the six months ended June 30, 2021 were transferred out of Level 3 and into Level 2 because of available observable market data for these investments. Assets and liabilities measured at fair value on a non-recurring basis are as follows at June 30, 2022 and December 31, 2021: Fair Value Measurements at June 30, 2022 Using Description Total Quoted Prices in Significant Other Significant Assets: Collateral-dependent loans receivable: Farmland $ 895 $ 0 $ 0 $ 895 Owner-occupied, nonfarm nonresidential properties 1,163 0 0 1,163 Commercial and industrial 1,723 0 0 1,723 Multifamily (5 or more) residential properties 543 0 0 543 Non-owner occupied, nonfarm nonresidential 2,746 0 0 2,746 Residential Mortgages secured by first liens 650 0 0 650 Fair Value Measurements at December 31, 2021 Using Description Total Quoted Prices in Significant Other Significant Assets: Collateral-dependent loans receivable: Farmland $ 920 $ 0 $ 0 $ 920 Owner-occupied, nonfarm nonresidential properties 194 0 0 194 Commercial and industrial 3,102 0 0 3,102 Other construction loans and all land development loans and other land loans 248 0 0 248 Multifamily (5 or more) residential properties 627 0 0 627 Non-owner occupied, nonfarm nonresidential 2,889 0 0 2,889 A loan is considered to be a collateral dependent loan when, based on current information and events, the Corporation expects repayment of the financial assets to be provided substantially through the operation or sale of the collateral and the Corporation has determined that the borrower is experiencing financial difficulty as of the measurement date. The allowance for credit losses is measured by estimating the fair value of the loan based on the present value of expected cash flows, the market price of the loan, or the underlying fair value of the loan’s collateral. For real estate loans, fair value of the loan’s collateral is determined by third-party appraisals, which are then adjusted for the estimated selling and closing costs related to liquidation of the collateral. For this asset class, the actual valuation methods (income, sales comparable, or cost) vary based on the status of the project or property. For example, land is generally based on the sales comparable method while construction is based on the income and/or sales comparable methods. The unobservable inputs may vary depending on the individual assets with no one of the three methods being the predominant approach. The Corporation reviews the third-party appraisal for appropriateness and may adjust the value downward to consider selling and closing costs. For non-real estate loans, fair value of the loan’s collateral may be determined using an appraisal, net book value per the borrower’s financial statements, or aging reports, adjusted or discounted based on management’s historical knowledge, changes in market conditions from the time of the valuation, and management’s expertise and knowledge of the client and client’s business. The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis at June 30, 2022: Fair Valuation Unobservable Inputs Range Collateral-dependent loans receivable: Farmland $ 895 Valuation of third party appraisal on underlying collateral Loss severity rates 60% (60%) Owner-occupied, nonfarm nonresidential properties 1,163 Valuation of third party appraisal on underlying collateral Loss severity rates 0%-60% (37%) Commercial and industrial 1,723 Valuation of third party appraisal on underlying collateral Loss severity rates 0%-50% (32%) Multifamily (5 or more) residential properties 543 Valuation of third party appraisal on underlying collateral Loss severity rates 0%-60% (23%) Non-owner occupied, nonfarm nonresidential 2,746 Valuation of third party appraisal on underlying collateral Loss severity rates 25%-60% (35%) Residential Mortgages secured by first liens 650 Valuation of third party appraisal on underlying collateral Loss severity rates 25%-57% (40%) The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis at December 31, 2021: Fair Valuation Unobservable Inputs Range Collateral-dependent loans receivable: Farmland $ 920 Valuation of third party appraisal on underlying collateral Loss severity rates 60% (60%) Owner-occupied, nonfarm nonresidential properties 194 Valuation of third party appraisal on underlying collateral Loss severity rates 0%-60% (57%) Commercial and industrial 3,102 Valuation of third party appraisal on underlying collateral Loss severity rates 0%-59% (42%) Other construction loans and all land development loans and other land loans 248 Valuation of third party appraisal on underlying collateral Loss severity rates 25% (25%) Multifamily (5 or more) residential properties 627 Valuation of third party appraisal on underlying collateral Loss severity rates 0%-57% (26%) Non-owner occupied, nonfarm nonresidential 2,889 Valuation of third party appraisal on underlying collateral Loss severity rates 25%-60% (34%) Fair Value of Financial Instruments The following table presents the carrying amount and fair value of financial instruments at June 30, 2022: Carrying Fair Value Measurement Using: Total Amount Level 1 Level 2 Level 3 Fair Value ASSETS Cash and cash equivalents $ 284,154 $ 284,154 $ 0 $ 0 $ 284,154 Debt securities available-for-sale 404,407 0 404,407 0 404,407 Debt securities held-to-maturity 413,310 0 389,933 0 389,933 Equity securities 9,539 9,539 0 0 9,539 Loans held for sale 843 0 846 0 846 Net loans receivable 3,869,210 0 0 3,869,617 3,869,617 FHLB and other restricted stock holdings and investments 24,484 n/a n/a n/a n/a Interest rate swaps 441 0 441 0 441 Accrued interest receivable 16,731 0 2,865 13,866 16,731 LIABILITIES Deposits $ (4,701,820) $ (4,397,542) $ (307,246) $ 0 $ (4,704,788) Subordinated debentures (20,620) 0 (14,084) 0 (14,084) Subordinated notes, net of unamortized issuance costs (83,812) 0 (83,922) 0 (83,922) Interest rate swaps (423) 0 (423) 0 (423) Accrued interest payable (567) 0 (567) 0 (567) The following table presents the carrying amount and fair value of financial instruments at December 31, 2021: Carrying Fair Value Measurement Using: Total Amount Level 1 Level 2 Level 3 Fair Value ASSETS Cash and cash equivalents $ 732,198 $ 732,198 $ 0 $ 0 $ 732,198 Debt securities available-for-sale 697,191 4,995 692,196 0 697,191 Equity securities 10,366 10,366 0 0 10,366 Loans held for sale 849 0 858 0 858 Net loans receivable 3,597,204 0 0 3,613,452 3,613,452 FHLB and other restricted stock holdings and investments 23,276 n/a n/a n/a n/a Interest rate swaps 2,124 0 2,124 0 2,124 Accrued interest receivable 15,516 16 2,171 13,329 15,516 LIABILITIES Deposits $ (4,715,619) $ (4,329,167) $ (391,850) $ 0 $ (4,721,017) Subordinated notes, net of unamortized issuance costs (104,281) 0 (92,675) 0 (92,675) Interest rate swaps (2,512) 0 (2,512) 0 (2,512) Accrued interest payable (886) 0 (886) 0 (886) While estimates of fair value are based on management’s judgment of the most appropriate factors as of the balance sheet date, there is no assurance that the estimated fair values would have been realized if the assets had been disposed of or the liabilities settled at that date, since market values may differ depending on various circumstances. The estimated fair values would also not apply to subsequent dates. The fair value of other equity interests is based on the net asset values provided by the underlying investment partnership. ASU 2015-7 removes the requirement to categorize within the fair value hierarchy all investments measured using the net asset value per share practical expedient and related disclosures. In addition, other assets and liabilities that are not financial instruments, such as premises and equipment, are not included in the disclosures. Also, non-financial assets such as, among other things, the estimated earnings power of core deposits, the earnings potential of trust accounts, the trained workforce, and customer goodwill, which typically are not recognized on the balance sheet, may have value but are not included in the fair value disclosures. |
REVENUE FROM CONTRACTS WITH CUS
REVENUE FROM CONTRACTS WITH CUSTOMERS | 6 Months Ended |
Jun. 30, 2022 | |
Revenue from Contract with Customer [Abstract] | |
REVENUE FROM CONTRACTS WITH CUSTOMERS | REVENUE FROM CONTRACTS WITH CUSTOMERS All of the Corporation’s revenue from contracts with customers in the scope of ASC 606 is recognized within Non-Interest Income. The following table presents the Corporation's Non-Interest Income by revenue stream and reportable segment for the three and six months ended June 30, 2022 and 2021. Items outside the scope of ASC 606 are noted as such. Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Non-interest Income Service charges on deposit accounts $ 1,771 $ 1,446 $ 3,528 $ 2,794 Wealth and asset management fees 1,803 1,765 3,586 3,287 Mortgage banking (1) 292 536 767 1,771 Card processing and interchange income 1,992 2,079 3,801 3,913 Net gains (losses) on sales of securities (1) 0 0 651 0 Other income 2,288 2,031 5,467 4,331 Total non-interest income $ 8,146 $ 7,857 $ 17,800 $ 16,096 (1) Not within scope of ASU 2014-9 Management determined that the primary sources of revenue emanating from interest and dividend income on loans receivable and investment securities along with non-interest revenue resulting from security gains, loan servicing, gains on the sale of loans receivable, commitment fees, fees from financial guarantees, certain credit card fees, gains (losses) on sale of other real estate owned not financed by the Corporation, is not within the scope of ASU 2014-9. The types of non-interest income within the scope of the standard that are material to the condensed consolidated financial statements are services charges on deposit accounts, wealth and asset management fee income, card processing and interchange income, and other income. Service charges on deposit accounts : The Corporation earns fees from its deposit customers for transaction-based, account maintenance, and overdraft services. Transaction-based fees, which include services such as ATM use fees, stop payment charges, statement rendering, and ACH fees, are recognized at the time the transaction is executed, as that is the point in time the Corporation fulfills the customer’s request. Account maintenance fees, which relate primarily to monthly maintenance, are earned over the course of a month, representing the period over which the Corporation satisfies the performance obligation. Overdraft fees are recognized at the point in time that the overdraft occurs. Services charges on deposits are withdrawn from the customer’s account balance. Wealth and asset management fees : The Corporation earns wealth and asset management fees from its contracts with trust and brokerage customers to manage assets for investment, and/or to transact on their accounts. These fees are primarily earned over time as the Corporation provides the contracted monthly or quarterly services and are generally assessed based on a tiered scale of the market value of assets under management at month end. Fees for these services are billed to customers on a monthly or quarterly basis and are recorded as revenue at the end of the period for which the wealth and asset management services have been performed. Other performance obligations, such as the delivery of account statements to customers, are generally considered immaterial to the overall transaction price. Card processing and interchange income : The Corporation earns interchange fees from check card and credit card transactions conducted through the Visa payment network. Interchange fees from cardholder transactions represent a percentage of the underlying transaction value and are recognized daily, concurrently with the transaction processing services provided to the cardholder. Other income : The Corporation's other income includes sources such as bank owned life insurance, changes in fair value and realized gains on sales of trading securities, certain service fees, gains (losses) on sales of fixed assets, and gains (losses) on sale of other real estate owned. The service fees are recognized in the same manner as the service charges mentioned above. While gains (losses) on the sale of other real estate owned are within the scope of ASU 2014-9 if financed by the Corporation, the Corporation does not finance the sale of transactions. The revenue on the sale is recorded upon the transfer of control of the property to the buyer and the other real estate owned asset is derecognized. |
SUMMARY OF SIGNIFICANT ACCOUN_2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 6 Months Ended |
Jun. 30, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation | Basis of Presentation The accompanying condensed consolidated financial statements have been prepared pursuant to rules and regulations of the SEC and in compliance with U.S. generally accepted accounting principles ("GAAP"). Because this report is based on an interim period, certain information and footnote disclosures normally included in the consolidated financial statements prepared in accordance with GAAP have been condensed or omitted. |
Risks and Uncertainties | Risks and Uncertainties The worldwide spread of COVID-19 has created significant uncertainty in the global economy. The ultimate impact of the COVID-19 pandemic and the extent to which the COVID-19 pandemic and the related government responses impact the Corporation’s business, results of operations and financial condition will depend on future developments, which are highly uncertain and difficult to predict. The Corporation's business is dependent upon the willingness and ability of its employees and customers to conduct banking and other financial transactions. If the global response to contain the COVID-19 pandemic requires further restrictive measures or is unsuccessful, the Corporation could experience a material adverse effect on its business, financial condition, results of operations and cash flows. Since the extent to which the COVID-19 pandemic impacts its operations will depend on future developments that are highly uncertain, the Corporation cannot estimate the impact on its business, financial condition or near or long-term financial or operational results with reasonable certainty. Accordingly, the Corporation is disclosing potentially material items of which it is aware. |
Use of Estimates | Use of Estimates To prepare financial statements in conformity with GAAP, management makes estimates and assumptions based on available information. These estimates and assumptions affect the amounts reported in the financial statements and the disclosures provided and future results could differ. |
Operating Segments | Operating Segments While the Corporation monitors the revenue streams of the various products and services, operations are managed and financial performance is evaluated on a Corporation-wide basis, and operating segments are aggregated into one as operating results for all segments are similar. Accordingly, all of the financial service operations are considered by management to be aggregated in one reportable operating segment. |
Debt Securities | Debt Securities Debt securities are classified as held to maturity and carried at amortized cost when management has the positive intent and ability to hold them to maturity. Debt securities are classified as available for sale when they might be sold before maturity. Securities available for sale are carried at fair value, with unrealized holding gains and losses reported in other comprehensive income, net of tax. Interest income includes amortization of purchase premium or discount. Premiums and discounts on securities are amortized on the level-yield method without anticipating prepayments, except for mortgage backed securities where prepayments are anticipated. Gains and losses on sales are recorded on the settlement date and determined using the specific identification method. The Corporation has made a policy election to exclude accrued interest from the amortized cost basis of debt securities and report accrued interest separately in accrued interest receivable and other assets in the condensed consolidated balance sheets. A debt security is placed on nonaccrual status at the time any principal or interest payments become more than 90 days delinquent or if full collection of interest or principal becomes uncertain. Accrued interest for a security placed on nonaccrual is reversed against interest income. There was no accrued interest related to debt securities reversed against interest income for the three and six months ended June 30, 2022 and 2021. |
Accounting Pronouncements Adopted in 2021 and Accounting Pronouncements Pending Adoption | Accounting Standards Adopted in 2021 In August 2018, the FASB issued ASU 2018-14, "Disclosure Framework - Changes to the Disclosure Requirements for Defined Benefit Plans." ASU 2018-14 amends ASC 715-20, "Compensation - Retirement Benefits - Defined Benefit Plans - General." The amended guidance modifies the disclosure requirements for employers that sponsor defined benefit pension or other post-retirement plans by removing and adding certain disclosures for these plans. The eliminated disclosures include (a) the amounts in accumulated Other Comprehensive Income expected to be recognized in net periodic benefit costs over the next fiscal year, and (b) the effects of a one percentage point change in assumed health care cost trend rates on the net periodic benefit costs and the benefit obligation for post-retirement health care benefits. Additional disclosures include descriptions of significant gains and losses affecting the benefit obligation for the period. ASU 2018-14 was effective for the Corporation on January 1, 2021 and did not have a material impact on its consolidated financial statements and related disclosures. In December 2019, the FASB issued ASU 2019-12, "Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes." These amendments remove specific exceptions to the general principles in Topic 740 in GAAP. It eliminates the need for an organization to analyze whether the following apply in a given period: exception to the incremental approach for intraperiod tax allocation; exceptions to accounting for basis differences where there are ownership changes in foreign investments; and exception in interim period income tax accounting for year-to-date losses that exceed anticipated losses. It also improves financial statement preparers' application of income tax- related guidance and simplifies GAAP for: franchise taxes that are partially based on income; transactions with a government that result in a step up in the tax basis of goodwill; separate financial statements of legal entities that are not subject to tax; and enacts changes in tax laws in interim periods. The guidance is effective for public business entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020. Early adoption is permitted. ASU 2019-12 was effective for the Corporation on January 1, 2021 and did not have a material impact on its consolidated financial statements and related disclosures. In January 2020, the FASB issued ASU 2020-01, "Investments - Equity Securities (Topic 321), Investments - Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815) - Clarifying the Interactions between Topic 321, Topic 323, and Topic 815." ASU 2020-01 represents changes to clarify certain interactions between the guidance to account for certain equity securities under Topic 321, the guidance to account for investments under the equity method of accounting in Topic 323, and the guidance in Topic 815. These amendments improve current U.S. GAAP by reducing diversity in practice and increasing comparability of the accounting for these transactions. ASU 2020-01 was effective for the Corporation on January 1, 2021 and did not have a material impact on its consolidated financial statements and related disclosures. In October 2020, the FASB issued ASU 2020-08, "Codification Improvements to Subtopic 310-20, Receivables - Nonrefundable Fees and Other Costs." ASU 2020-08 clarifies that an entity should reevaluate whether a callable debt security is within the scope of paragraph 310-20-35-33 for each reporting period. ASU 2020-08 was effective for the Corporation on January 1, 2021 and did not have a material impact on its consolidated financial statements and related disclosures. In August 2021, FASB issued ASU 2021-06, "Presentation of Financial Statements (Topic 205), Financial Services—Depository and Lending (Topic 942), and Financial Services—Investment Companies (Topic 946)." ASU 2021-06 updates the codification to align with SEC Final Rule Releases No. 33-10786 and No. 33-10835. Specific to financial institutions, these SEC releases updated required annual statistical disclosures. The amendments in ASU 2021-06 were effective immediately. The updates to the statistical disclosures are reflected in the Corporation's Annual Report on Form 10-K for the year ended December 31, 2021, to align with this guidance. Accounting Pronouncements Pending Adoption In March 2020, the FASB issued ASU 2020-04, "Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting." ASU 2020-04 provides optional expedients and exceptions for accounting related to contracts, hedging relationships and other transactions affected by reference rate reform if certain criteria are met. ASU 2020-04 applies only to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform and do not apply to contract modifications made and hedging relationships entered into or evaluated after December 31, 2022, except for hedging relationships existing as of December 31, 2022, that an entity has elected certain optional expedients for and that are retained through the end of the hedging relationship. The amendments in this update are effective for all entities as of March 12, 2020 through December 31, 2022. The Corporation is currently evaluating the effect of the reference rate reform on its consolidated financial statements. In January 2021, the FASB issued ASU 2021-01, "Reference Rate Reform (Topic 848)." ASU 2021-01 expands and clarifies the scope of ASU No. 2020-04 to include derivatives affected by changes in interest rates used for margining, discounting, or contract price alignment, commonly referred to as the “discounting transaction.” Derivatives impacted by the discounting transaction will be eligible for certain optional expedients and exceptions related to contract modifications and hedge accounting as defined in Topic 848. The amendments in this update are effective for all entities as of March 12, 2020 through December 31, 2022. The Corporation is currently evaluating the effect of the reference rate reform on its consolidated financial statements and related disclosures. In March 2022, the FASB issued ASU No. 2022-02, "Financial Instruments – Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures." This ASU eliminates the separate recognition and measurement guidance for Troubled Debt Restructurings ("TDRs") by creditors. The elimination of the TDR guidance may be adopted prospectively for loan modifications after adoption or on a modified retrospective basis, which would also apply to loans previously modified, resulting in a cumulative effect adjustment to retained earnings in the period of adoption for changes in the allowance for credit losses. This guidance is effective for the Corporation for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years, with early adoption permitted. The Corporation is evaluating the effect that ASU 2022-02 will have on its consolidated financial statements and related disclosures. In June 2022, FASB issued ASU No. 2022-03, "Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions." In this ASU, a contractual restriction on the sale of an equity security is not considered in measuring the security's fair value. The ASU also requires certain disclosures for equity securities that are subject to contractual restrictions. This guidance is effective for the Corporation for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years, with early adoption permitted. The Corporation is evaluating the effect that ASU 2022-03 will have on its consolidated financial statements and related disclosures. |
SECURITIES (Tables)
SECURITIES (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Investments, Debt and Equity Securities [Abstract] | |
Securities Available for Sale | Debt securities available-for-sale ("AFS") at June 30, 2022 and December 31, 2021 are as follows: June 30, 2022 December 31, 2021 Amortized Unrealized Fair Amortized Unrealized Fair Cost Gains Losses Value Cost Gains Losses Value U.S. Government sponsored entities $ 2,278 $ 0 $ (67) $ 2,211 $ 110,788 $ 2,728 $ (1,768) $ 111,748 State & political subdivisions 116,408 147 (13,046) 103,509 103,232 2,162 (1,682) 103,712 Residential & multi-family mortgage 273,603 114 (29,204) 244,513 437,021 4,127 (6,513) 434,635 Corporate notes & bonds 42,669 27 (3,616) 39,080 28,257 250 (443) 28,064 Pooled SBA 15,946 9 (861) 15,094 18,787 283 (38) 19,032 Total $ 450,904 $ 297 $ (46,794) $ 404,407 $ 698,085 $ 9,550 $ (10,444) $ 697,191 Information pertaining to security sales on AFS securities is as follows: Proceeds Gross Gross Three months ended June 30, 2022 $ 0 $ 0 $ 0 Three months ended June 30, 2021 0 0 0 Six months ended June 30, 2022 22,164 651 0 Six months ended June 30, 2021 0 0 0 |
Schedule of Debt Securities Held-to-maturities | Debt securities held-to-maturity ("HTM") at June 30, 2022 and December 31, 2021 are as follows: June 30, 2022 December 31, 2021 Amortized Unrealized Fair Amortized Unrealized Fair Cost Gains Losses Value Cost Gains Losses Value U.S. Government sponsored entities $ 307,634 $ 0 $ (18,327) $ 289,307 $ 0 $ 0 $ 0 $ 0 Residential & multi-family mortgage 105,676 0 (5,050) 100,626 0 0 0 0 Total $ 413,310 $ 0 $ (23,377) $ 389,933 $ 0 $ 0 $ 0 $ 0 HTM debt securities with unrealized losses at June 30, 2022 and December 31, 2021, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, are as follows: June 30, 2022 Less than 12 Months 12 Months or More Total Description of Securities Fair Unrealized Fair Unrealized Fair Unrealized U.S. Government sponsored entities $ 241,832 $ (14,169) $ 47,475 $ (4,158) $ 289,307 $ (18,327) Residential & multi-family mortgage 75,181 (3,482) 25,445 (1,568) 100,626 (5,050) $ 317,013 $ (17,651) $ 72,920 $ (5,726) $ 389,933 $ (23,377) December 31, 2021 Less than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized U.S. Government sponsored entities $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 Residential & multi-family mortgage 0 0 0 0 0 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 |
Schedule of Maturity Distribution of Debt Securities at Amortized Cost and Fair Value | The table below illustrates the maturity distribution of debt securities at amortized cost and fair value as of June 30, 2022: Available-for-sale Held-to-maturity Amortized Fair Amortized Fair 1 year or less $ 4,854 $ 4,869 $ 5,125 $ 5,018 1 year – 5 years 34,134 33,151 232,236 221,284 5 years – 10 years 91,531 81,388 64,786 58,206 After 10 years 30,836 25,392 5,487 4,799 161,355 144,800 307,634 289,307 Residential & multi-family mortgage 273,603 244,513 105,676 100,626 Pooled SBA 15,946 15,094 0 0 Total debt securities $ 450,904 $ 404,407 $ 413,310 $ 389,933 |
Available-for-sale Securities with Unrealized Loss Position | AFS debt securities with unrealized losses at June 30, 2022 and December 31, 2021, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, are as follows: June 30, 2022 Less than 12 Months 12 Months or More Total Description of Securities Fair Unrealized Fair Unrealized Fair Unrealized U.S. Government sponsored entities $ 2,211 $ (67) $ 0 $ 0 $ 2,211 $ (67) State & political subdivisions 73,314 (10,174) 11,016 (2,872) 84,330 (13,046) Residential & multi-family mortgage 164,539 (17,703) 66,816 (11,501) 231,355 (29,204) Corporate notes & bonds 30,790 (3,117) 5,263 (499) 36,053 (3,616) Pooled SBA 14,647 (861) 0 0 14,647 (861) $ 285,501 $ (31,922) $ 83,095 $ (14,872) $ 368,596 $ (46,794) December 31, 2021 Less than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized U.S. Government sponsored entities $ 23,733 $ (553) $ 37,911 $ (1,215) $ 61,644 $ (1,768) State & political subdivisions 55,636 (1,399) 5,026 (283) 60,662 (1,682) Residential & multi-family mortgage 248,690 (4,837) 45,185 (1,676) 293,875 (6,513) Corporate notes & bonds 6,466 (249) 3,806 (194) 10,272 (443) Pooled SBA 4,394 (37) 127 (1) 4,521 (38) $ 338,919 $ (7,075) $ 92,055 $ (3,369) $ 430,974 $ (10,444) |
Trading Securities | Equity securities at June 30, 2022 and December 31, 2021 are as follows: June 30, 2022 December 31, 2021 Corporate equity securities $ 6,272 $ 6,715 Mutual funds 2,591 2,566 Certificates of deposit 0 506 Corporate notes and bonds 676 579 Total $ 9,539 $ 10,366 |
LOANS RECEIVABLE AND ALLOWANC_2
LOANS RECEIVABLE AND ALLOWANCE FOR CREDIT LOSSES (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Receivables [Abstract] | |
Schedule of Net Loans | Total net loans receivable at June 30, 2022 and December 31, 2021 are summarized as follows: June 30, 2022 Percentage December 31, 2021 Percentage Farmland $ 31,649 0.8 % $ 23,768 0.7 % Owner-occupied, nonfarm nonresidential properties 463,922 11.9 % 434,672 12.0 % Agricultural production and other loans to farmers 1,097 0.0 % 1,379 0.0 % Commercial and Industrial 1 759,417 19.4 % 708,989 19.5 % Obligations (other than securities and leases) of states and political subdivisions 143,488 3.7 % 140,887 3.9 % Other loans 14,524 0.4 % 13,979 0.4 % Other construction loans and all land development and other land loans 341,399 8.7 % 298,869 8.2 % Multifamily (5 or more) residential properties 212,561 5.5 % 216,143 5.9 % Non-owner occupied, nonfarm nonresidential properties 734,580 18.8 % 663,062 18.2 % 1-4 Family Construction 40,990 1.0 % 37,822 1.0 % Home equity lines of credit 115,836 3.0 % 104,517 2.9 % Residential Mortgages secured by first liens 875,974 22.4 % 826,729 22.7 % Residential Mortgages secured by junior liens 62,212 1.6 % 56,689 1.6 % Other revolving credit plans 28,768 0.7 % 26,536 0.7 % Automobile 20,166 0.5 % 20,862 0.6 % Other consumer 51,765 1.3 % 49,676 1.4 % Credit cards 11,049 0.3 % 9,935 0.3 % Overdrafts 356 0.0 % 278 0.0 % Total loans receivable $ 3,909,753 100.0 % $ 3,634,792 100.0 % Less: Allowance for credit losses (40,543) (37,588) Loans receivable, net $ 3,869,210 $ 3,597,204 Net deferred loan origination fees (costs) included in the above table $ 4,513 $ 5,667 1 PPP loans, net of deferred PPP processing fees, both those disbursed in 2020 and those disbursed in 2021, are included in the Commercial and Industrial classification. |
Allowance for Loan Losses | Transactions in the allowance for credit losses for the three months ended June 30, 2022 were as follows: Beginning (Charge-offs) Recoveries Provision (Benefit) for Credit Losses on Loans Receivable (1) Ending Allowance Farmland $ 186 $ 0 $ 0 $ 5 $ 191 Owner-occupied, nonfarm nonresidential properties 3,595 0 2 117 3,714 Agricultural production and other loans to farmers 10 0 0 (3) 7 Commercial and Industrial 9,090 (14) 13 466 9,555 Obligations (other than securities and leases) of states and political subdivisions 1,828 0 0 (163) 1,665 Other loans 143 0 0 24 167 Other construction loans and all land development and other land loans 2,050 0 0 278 2,328 Multifamily (5 or more) residential properties 2,236 0 0 41 2,277 Non-owner occupied, nonfarm nonresidential properties 6,411 0 0 337 6,748 1-4 Family Construction 210 0 0 26 236 Home equity lines of credit 1,181 0 2 170 1,353 Residential Mortgages secured by first liens 6,905 0 0 759 7,664 Residential Mortgages secured by junior liens 552 0 0 76 628 Other revolving credit plans 547 (19) 28 42 598 Automobile 254 (6) 0 (6) 242 Other consumer 2,569 (369) 19 485 2,704 Credit cards 103 (45) 4 48 110 Overdrafts 247 (127) 33 203 356 Total $ 38,117 $ (580) $ 101 $ 2,905 $ 40,543 (1) Excludes provision for credit losses related to unfunded commitments. Note 8, "Off-Balance Sheet Commitments and Contingencies," in the condensed consolidated financial statements provides more detail concerning the provision for credit losses related to unfunded commitments of the Corporation. Transactions in the allowance for credit losses for the six months ended June 30, 2022 were as follows: Beginning (Charge-offs) Recoveries Provision (Benefit) for Credit Losses on Loans Receivable (1) Ending Allowance Farmland $ 151 $ 0 $ 0 $ 40 $ 191 Owner-occupied, nonfarm nonresidential properties 3,339 (21) 9 387 3,714 Agricultural production and other loans to farmers 9 0 0 (2) 7 Commercial and Industrial 8,837 (85) 91 712 9,555 Obligations (other than securities and leases) of states and political subdivisions 1,649 0 0 16 1,665 Other loans 149 0 0 18 167 Other construction loans and all land development and other land loans 2,198 0 0 130 2,328 Multifamily (5 or more) residential properties 2,289 0 0 (12) 2,277 Non-owner occupied, nonfarm nonresidential properties 6,481 0 0 267 6,748 1-4 Family Construction 158 0 0 78 236 Home equity lines of credit 1,169 0 10 174 1,353 Residential Mortgages secured by first liens 6,943 (47) 12 756 7,664 Residential Mortgages secured by junior liens 546 0 0 82 628 Other revolving credit plans 528 (45) 34 81 598 Automobile 263 (13) 0 (8) 242 Other consumer 2,546 (770) 41 887 2,704 Credit cards 92 (59) 8 69 110 Overdrafts 241 (246) 74 287 356 Total $ 37,588 $ (1,286) $ 279 $ 3,962 $ 40,543 (1) Excludes provision for credit losses related to unfunded commitments. Note 8, "Off-Balance Sheet Commitments and Contingencies," in the condensed consolidated financial statements provides more detail concerning the provision for credit losses related to unfunded commitments of the Corporation. Transactions in the allowance for credit losses for the three months ended June 30, 2021 were as follows: Beginning (Charge-offs) Recoveries Provision (Benefit) for Credit Losses on Loans Receivable (1) Ending Allowance Farmland $ 224 $ 0 $ 0 $ (100) $ 124 Owner-occupied, nonfarm nonresidential properties 2,935 0 3 (58) 2,880 Agricultural production and other loans to farmers 28 0 0 (16) 12 Commercial and Industrial 6,479 (14) 15 832 7,312 Obligations (other than securities and leases) of states and political subdivisions 1,715 (250) 0 860 2,325 Other loans 73 0 0 44 117 Other construction loans and all land development and other land loans 2,006 0 0 358 2,364 Multifamily (5 or more) residential properties 2,754 0 0 (440) 2,314 Non-owner occupied, nonfarm nonresidential properties 11,326 0 0 (1,164) 10,162 1-4 Family Construction 67 0 0 43 110 Home equity lines of credit 843 0 2 184 1,029 Residential Mortgages secured by first liens 3,550 (42) 1 889 4,398 Residential Mortgages secured by junior liens 224 0 0 184 408 Other revolving credit plans 527 (17) 3 (54) 459 Automobile 182 0 3 56 241 Other consumer 2,374 (246) 47 227 2,402 Credit cards 65 (39) 3 39 68 Overdrafts 183 (107) 24 83 183 Total $ 35,555 $ (715) $ 101 $ 1,967 $ 36,908 (1) Excludes provision for credit losses related to unfunded commitments. Note 8, "Off-Balance Sheet Commitments and Contingencies," in the condensed consolidated financial statements provides more detail concerning the provision for credit losses related to unfunded commitments of the Corporation. Transactions in the allowance for credit losses for the six months ended June 30, 2021 were as follows: Beginning (Charge-offs) Recoveries Provision (Benefit) for Credit Losses on Loans Receivable (1) Ending Allowance Farmland $ 221 $ 0 $ 0 $ (97) $ 124 Owner-occupied, nonfarm nonresidential properties 3,700 (531) 5 (294) 2,880 Agricultural production and other loans to farmers 24 0 0 (12) 12 Commercial and Industrial 6,233 (70) 20 1,129 7,312 Obligations (other than securities and leases) of states and political subdivisions 998 (250) 0 1,577 2,325 Other loans 68 0 0 49 117 Other construction loans and all land development and other land loans 1,956 0 0 408 2,364 Multifamily (5 or more) residential properties 2,724 0 0 (410) 2,314 Non-owner occupied, nonfarm nonresidential properties 8,658 0 0 1,504 10,162 1-4 Family Construction 82 0 0 28 110 Home equity lines of credit 985 0 2 42 1,029 Residential Mortgages secured by first liens 4,539 (70) 32 (103) 4,398 Residential Mortgages secured by junior liens 241 0 0 167 408 Other revolving credit plans 507 (23) 5 (30) 459 Automobile 132 (5) 3 111 241 Other consumer 2,962 (561) 95 (94) 2,402 Credit cards 66 (72) 11 63 68 Overdrafts 244 (191) 79 51 183 Total $ 34,340 $ (1,773) $ 252 $ 4,089 $ 36,908 |
Nonaccrual Loans and Loans Receivable Past Due over 90 Days Still Accruing Interest by Class of Loans | The following tables presents the amortized cost basis of loans receivable on nonaccrual status and loans receivable past due over 89 days still accruing as of June 30, 2022 and December 31, 2021, respectively: June 30, 2022 Nonaccrual Nonaccrual With No Allowance for Credit Loss Loans Receivable Past Due over 89 Days Still Accruing Farmland $ 938 $ 938 $ 997 Owner-occupied, nonfarm nonresidential properties 1,711 1,632 0 Commercial and Industrial 5,919 2,070 55 Other construction loans and all land development and other land loans 71 71 0 Multifamily (5 or more) residential properties 1,108 0 0 Non-owner occupied, nonfarm nonresidential properties 3,685 2,058 0 Home equity lines of credit 586 586 0 Residential Mortgages secured by first liens 4,021 3,558 5 Residential Mortgages secured by junior liens 200 200 0 Other revolving credit plans 49 49 0 Automobile 30 30 0 Other consumer 636 636 0 Credit cards 0 0 3 Total $ 18,954 $ 11,828 $ 1,060 December 31, 2021 Nonaccrual Nonaccrual With No Allowance for Credit Loss Loans Receivable Past Due over 89 Days Still Accruing Farmland $ 965 $ 965 $ 0 Owner-occupied, nonfarm nonresidential properties 850 762 0 Commercial and Industrial 7,060 1,653 8 Other construction loans and all land development and other land loans 516 77 0 Multifamily (5 or more) residential properties 1,270 5 0 Non-owner occupied, nonfarm nonresidential properties 3,771 2,143 0 Home equity lines of credit 824 824 0 Residential Mortgages secured by first liens 3,410 3,410 137 Residential Mortgages secured by junior liens 147 147 0 Other revolving credit plans 13 13 0 Automobile 36 36 0 Other consumer 558 558 0 Credit cards 0 0 23 Total $ 19,420 $ 10,593 $ 168 |
Aging of Recorded Investment in Past Due Loans | The following table presents the amortized cost basis of loans receivable that are individually evaluated and collateral-dependent by class of loans as of June 30, 2022: Real Estate Collateral Non-Real Estate Collateral Farmland $ 895 $ 0 Owner-occupied, nonfarm nonresidential properties 1,163 9 Commercial and Industrial 115 2,090 Multifamily (5 or more) residential properties 1,108 0 Non-owner occupied, nonfarm nonresidential properties 3,262 0 Residential Mortgages secured by first liens 888 0 Total $ 7,431 $ 2,099 The following table presents the amortized cost basis of loans receivable that are individually evaluated and collateral-dependent by class of loans as of December 31, 2021: Real Estate Collateral Non-Real Estate Collateral Farmland $ 920 $ 0 Owner-occupied, nonfarm nonresidential properties 194 9 Commercial and Industrial 1,488 2,351 Other construction loans and all land development and other land loans 438 0 Multifamily (5 or more) residential properties 1,265 0 Non-owner occupied, nonfarm nonresidential properties 3,378 0 Residential Mortgages secured by first liens 435 0 Total $ 8,118 $ 2,360 The following table presents the aging of the amortized cost basis in past-due loans receivable as of June 30, 2022 by class of loans: 30 - 59 60 - 89 Greater Than 89 Total Past Due Loans Receivable Not Past Due Total Farmland $ 148 $ 0 $ 997 $ 1,145 $ 30,504 $ 31,649 Owner-occupied, nonfarm nonresidential properties 63 490 876 1,429 462,493 463,922 Agricultural production and other loans to farmers 0 0 0 0 1,097 1,097 Commercial and Industrial 133 181 502 816 758,601 759,417 Obligations (other than securities and leases) of states and political subdivisions 0 0 0 0 143,488 143,488 Other loans 0 0 0 0 14,524 14,524 Other construction loans and all land development and other land loans 0 0 71 71 341,328 341,399 Multifamily (5 or more) residential properties 357 0 90 447 212,114 212,561 Non-owner occupied, nonfarm nonresidential properties 215 0 1,680 1,895 732,685 734,580 1-4 Family Construction 0 0 0 0 40,990 40,990 Home equity lines of credit 107 344 49 500 115,336 115,836 Residential Mortgages secured by first liens 1,397 467 1,300 3,164 872,810 875,974 Residential Mortgages secured by junior liens 80 41 53 174 62,038 62,212 Other revolving credit plans 44 9 23 76 28,692 28,768 Automobile 43 4 4 51 20,115 20,166 Other consumer 288 205 294 787 50,978 51,765 Credit cards 75 13 3 91 10,958 11,049 Overdrafts 0 0 0 0 356 356 Total $ 2,950 $ 1,754 $ 5,942 $ 10,646 $ 3,899,107 $ 3,909,753 The following table presents the aging of the amortized cost basis in past-due loans receivable as of December 31, 2021 by class of loans: 30 - 59 60 - 89 Greater Than 89 Total Past Due Loans Receivable Not Past Due Total Farmland $ 348 $ 0 $ 0 $ 348 $ 23,420 $ 23,768 Owner-occupied, nonfarm nonresidential properties 278 18 414 710 433,962 434,672 Agricultural production and other loans to farmers 0 0 0 0 1,379 1,379 Commercial and Industrial 377 13 333 723 708,266 708,989 Obligations (other than securities and leases) of states and political subdivisions 0 0 0 0 140,887 140,887 Other loans 0 0 0 0 13,979 13,979 Other construction loans and all land development and other land loans 0 0 77 77 298,792 298,869 Multifamily (5 or more) residential properties 0 10 209 219 215,924 216,143 Non-owner occupied, nonfarm nonresidential properties 0 0 1,792 1,792 661,270 663,062 1-4 Family Construction 0 0 0 0 37,822 37,822 Home equity lines of credit 506 50 172 728 103,789 104,517 Residential Mortgages secured by first liens 1,286 1,145 1,647 4,078 822,651 826,729 Residential Mortgages secured by junior liens 32 24 1 57 56,632 56,689 Other revolving credit plans 56 17 4 77 26,459 26,536 Automobile 45 3 23 71 20,791 20,862 Other consumer 283 158 295 736 48,940 49,676 Credit cards 26 12 23 61 9,874 9,935 Overdrafts 0 0 0 0 278 278 Total $ 3,237 $ 1,450 $ 4,990 $ 9,677 $ 3,625,115 $ 3,634,792 |
Restructured in Troubled Debt | There were no loans modified as TDRs during the three months ended June 30, 2022. There was one loan modified as a TDR during the six months ended June 30, 2022: Six Months Ended June 30, 2022 Number of Pre-Modification Post-Modification Type of Modification Non-owner occupied, nonfarm nonresidential properties 1 $ 1,784 $ 1,784 Modify Rate and Extend Amortization Total 1 $ 1,784 $ 1,784 There was one loan modified as TDRs during the three months ended June 30, 2021. Three Months Ended June 30, 2021 Number of Pre-Modification Post-Modification Type of Modification Commercial and Industrial 1 $ 578 $ 578 Modify Payment Total 1 $ 578 $ 578 There were three loans modified as TDRs during the six months ended June 30, 2021. Six Months Ended June 30, 2021 Number of Pre-Modification Post-Modification Type of Modification Commercial and Industrial 1 $ 578 $ 578 Modify Payment Multifamily (5 or more) residential properties 1 717 717 Modify Payment Non-owner occupied, nonfarm nonresidential properties 1 1,604 1,604 Modify Payment Total 3 $ 2,899 $ 2,899 |
Schedule of Credit Risk Profile by Risk Rating | The following tables represent the Corporation's credit risk profile by risk rating. Loans receivable not rated as special mention, substandard, or doubtful are considered to be pass rated loans. June 30, 2022 Non-Pass Rated Pass Special Mention Substandard Doubtful Total Non-Pass Total Farmland $ 29,261 $ 1,450 $ 938 $ 0 $ 2,388 $ 31,649 Owner-occupied, nonfarm nonresidential properties 449,366 6,406 8,150 0 14,556 463,922 Agricultural production and other loans to farmers 1,097 0 0 0 0 1,097 Commercial and Industrial 740,370 6,554 11,137 1,356 19,047 759,417 Obligations (other than securities and leases) of states and political subdivisions 143,488 0 0 0 0 143,488 Other loans 14,524 0 0 0 0 14,524 Other construction loans and all land development and other land loans 339,750 1,578 71 0 1,649 341,399 Multifamily (5 or more) residential properties 211,353 100 1,108 0 1,208 212,561 Non-owner occupied, nonfarm nonresidential properties 704,941 6,610 23,029 0 29,639 734,580 Total $ 2,634,150 $ 22,698 $ 44,433 $ 1,356 $ 68,487 $ 2,702,637 December 31, 2021 Non-Pass Rated Pass Special Mention Substandard Doubtful Total Non-Pass Total Farmland $ 21,286 $ 1,514 $ 968 $ 0 $ 2,482 $ 23,768 Owner-occupied, nonfarm nonresidential properties 419,368 6,723 8,581 0 15,304 434,672 Agricultural production and other loans to farmers 1,379 0 0 0 0 1,379 Commercial and Industrial 687,010 7,946 12,654 1,379 21,979 708,989 Obligations (other than securities and leases) of states and political subdivisions 140,887 0 0 0 0 140,887 Other loans 13,979 0 0 0 0 13,979 Other construction loans and all land development and other land loans 294,103 4,221 545 0 4,766 298,869 Multifamily (5 or more) residential properties 214,772 100 1,271 0 1,371 216,143 Non-owner occupied, nonfarm nonresidential properties 631,534 9,628 21,900 0 31,528 663,062 Total $ 2,424,318 $ 30,132 $ 45,919 $ 1,379 $ 77,430 $ 2,501,748 |
Amortized Cost of Loans, by Year of Origination | The following tables detail the amortized cost of loans receivable, by year of origination (for term loans) and by risk grade within each portfolio segment as of June 30, 2022. The current period originations may include modifications, extensions and renewals. Term Loans Amortized Cost Basis by Origination Year 2022 2021 2020 2019 2018 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Total Farmland Risk rating Pass $ 8,911 $ 7,782 $ 1,610 $ 3,149 $ 3,497 $ 3,892 $ 420 $ 0 $ 29,261 Special mention 0 0 0 0 0 1,450 0 0 1,450 Substandard 0 388 0 0 0 550 0 0 938 Doubtful 0 0 0 0 0 0 0 0 0 Total $ 8,911 $ 8,170 $ 1,610 $ 3,149 $ 3,497 $ 5,892 $ 420 $ 0 $ 31,649 Owner-occupied, nonfarm nonresidential properties Risk rating Pass $ 67,952 $ 116,666 $ 74,850 $ 72,416 $ 26,633 $ 71,231 $ 19,618 $ 0 $ 449,366 Special mention 0 237 0 888 4,193 1,078 10 0 6,406 Substandard 0 156 386 2,044 821 4,743 0 0 8,150 Doubtful 0 0 0 0 0 0 0 0 0 Total $ 67,952 $ 117,059 $ 75,236 $ 75,348 $ 31,647 $ 77,052 $ 19,628 $ 0 $ 463,922 Agricultural production and other loans to farmers Risk rating Pass $ 129 $ 151 $ 91 $ 70 $ 192 $ 0 $ 464 $ 0 $ 1,097 Special mention 0 0 0 0 0 0 0 0 0 Substandard 0 0 0 0 0 0 0 0 0 Doubtful 0 0 0 0 0 0 0 0 0 Total $ 129 $ 151 $ 91 $ 70 $ 192 $ 0 $ 464 $ 0 $ 1,097 Commercial and Industrial Risk rating Pass $ 117,219 $ 236,523 $ 75,375 $ 21,326 $ 11,010 $ 21,573 $ 257,344 $ 0 $ 740,370 Special mention 0 0 159 431 340 183 5,441 0 6,554 Substandard 0 2,748 984 436 358 1,046 5,565 0 11,137 Doubtful (1) 0 1,356 0 0 0 0 0 0 1,356 Total $ 117,219 $ 240,627 $ 76,518 $ 22,193 $ 11,708 $ 22,802 $ 268,350 $ 0 $ 759,417 Obligations (other than securities and leases) of states and political subdivisions Risk rating Pass $ 11,108 $ 37,217 $ 16,428 $ 4,748 $ 13,747 $ 55,509 $ 4,731 $ 0 $ 143,488 Special mention 0 0 0 0 0 0 0 0 0 Substandard 0 0 0 0 0 0 0 0 0 Doubtful 0 0 0 0 0 0 0 0 0 Total $ 11,108 $ 37,217 $ 16,428 $ 4,748 $ 13,747 $ 55,509 $ 4,731 $ 0 $ 143,488 Other loans Risk rating Pass $ 2,160 $ 5,484 $ 2,505 $ 400 $ 0 $ 0 $ 3,975 $ 0 $ 14,524 Special mention 0 0 0 0 0 0 0 0 0 Substandard 0 0 0 0 0 0 0 0 0 Doubtful 0 0 0 0 0 0 0 0 0 Total $ 2,160 $ 5,484 $ 2,505 $ 400 $ 0 $ 0 $ 3,975 $ 0 $ 14,524 (1) Consists of one loan relationship that was originated in 2015 and modified in 2021. The modification met the requirements to disclose the loan relationship as a new loan during the current period. Term Loans Amortized Cost Basis by Origination Year 2022 2021 2020 2019 2018 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Total Other construction loans and all land development and other land loans Risk rating Pass $ 107,639 $ 96,680 $ 108,607 $ 7,398 $ 9,137 $ 2,063 $ 8,226 $ 0 $ 339,750 Special mention 0 1,511 0 67 0 0 0 0 1,578 Substandard 0 0 0 0 0 0 71 0 71 Doubtful 0 0 0 0 0 0 0 0 0 Total $ 107,639 $ 98,191 $ 108,607 $ 7,465 $ 9,137 $ 2,063 $ 8,297 $ 0 $ 341,399 Multifamily (5 or more) residential properties Risk rating Pass $ 38,463 $ 53,374 $ 54,210 $ 29,892 $ 6,623 $ 26,335 $ 2,456 $ 0 $ 211,353 Special mention 0 0 0 0 0 0 100 0 100 Substandard 0 0 0 661 357 90 0 0 1,108 Doubtful 0 0 0 0 0 0 0 0 0 Total $ 38,463 $ 53,374 $ 54,210 $ 30,553 $ 6,980 $ 26,425 $ 2,556 $ 0 $ 212,561 Non-owner occupied, nonfarm nonresidential properties Risk rating Pass $ 207,920 $ 164,540 $ 62,917 $ 81,646 $ 48,194 $ 131,397 $ 8,327 $ 0 $ 704,941 Special mention 0 0 0 417 518 5,224 451 0 6,610 Substandard 0 810 0 2,277 1,651 16,196 2,095 0 23,029 Doubtful 0 0 0 0 0 0 0 0 0 Total $ 207,920 $ 165,350 $ 62,917 $ 84,340 $ 50,363 $ 152,817 $ 10,873 $ 0 $ 734,580 The following tables detail the amortized cost of loans receivable, by year of origination (for term loans) and by risk grade within each portfolio segment as of December 31, 2021. The current period originations may include modifications, extensions and renewals. Term Loans Amortized Cost Basis by Origination Year 2021 2020 2019 2018 2017 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Total Farmland Risk rating Pass $ 8,203 $ 1,690 $ 3,276 $ 3,547 $ 564 $ 3,545 $ 461 $ 0 $ 21,286 Special mention 0 0 0 0 394 1,120 0 0 1,514 Substandard 388 0 0 0 48 532 0 0 968 Doubtful 0 0 0 0 0 0 0 0 0 Total $ 8,591 $ 1,690 $ 3,276 $ 3,547 $ 1,006 $ 5,197 $ 461 $ 0 $ 23,768 Owner-occupied, nonfarm nonresidential properties Risk rating Pass $ 135,095 $ 78,068 $ 78,621 $ 29,100 $ 40,677 $ 50,079 $ 7,728 $ 0 $ 419,368 Special mention 243 0 903 4,287 135 1,145 10 0 6,723 Substandard 687 416 2,190 868 250 4,152 18 0 8,581 Doubtful 0 0 0 0 0 0 0 0 0 Total $ 136,025 $ 78,484 $ 81,714 $ 34,255 $ 41,062 $ 55,376 $ 7,756 $ 0 $ 434,672 Agricultural production and other loans to farmers Risk rating Pass $ 211 $ 103 $ 76 $ 198 $ 0 $ 0 $ 791 $ 0 $ 1,379 Special mention 0 0 0 0 0 0 0 0 0 Substandard 0 0 0 0 0 0 0 0 0 Doubtful 0 0 0 0 0 0 0 0 0 Total $ 211 $ 103 $ 76 $ 198 $ 0 $ 0 $ 791 $ 0 $ 1,379 Commercial and Industrial Risk rating Pass $ 313,983 $ 84,815 $ 31,375 $ 16,577 $ 12,389 $ 6,777 $ 221,094 $ 0 $ 687,010 Special mention 0 363 793 381 82 844 5,483 0 7,946 Substandard 1,991 800 1,862 452 29 2,016 5,504 0 12,654 Doubtful (1) 1,379 0 0 0 0 0 0 0 1,379 Total $ 317,353 $ 85,978 $ 34,030 $ 17,410 $ 12,500 $ 9,637 $ 232,081 $ 0 $ 708,989 Obligations (other than securities and leases) of states and political subdivisions Risk rating Pass $ 36,853 $ 16,688 $ 8,774 $ 16,957 $ 20,071 $ 36,764 $ 4,780 $ 0 $ 140,887 Special mention 0 0 0 0 0 0 0 0 0 Substandard 0 0 0 0 0 0 0 0 0 Doubtful 0 0 0 0 0 0 0 0 0 Total $ 36,853 $ 16,688 $ 8,774 $ 16,957 $ 20,071 $ 36,764 $ 4,780 $ 0 $ 140,887 Other loans Risk rating Pass $ 5,851 $ 5,305 $ 552 $ 3 $ 0 $ 0 $ 2,268 $ 0 $ 13,979 Special mention 0 0 0 0 0 0 0 0 0 Substandard 0 0 0 0 0 0 0 0 0 Doubtful 0 0 0 0 0 0 0 0 0 Total $ 5,851 $ 5,305 $ 552 $ 3 $ 0 $ 0 $ 2,268 $ 0 $ 13,979 (1) Consists of one loan relationship that was originated in 2015 and modified in 2021. The modification met the requirements to disclose the loan relationship as a new loan during the current period. Term Loans Amortized Cost Basis by Origination Year 2021 2020 2019 2018 2017 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Total Other construction loans and all land development and other land loans Risk rating Pass $ 98,406 $ 168,372 $ 8,752 $ 11,141 $ 853 $ 898 $ 5,681 $ 0 $ 294,103 Special mention 1,500 0 650 0 2,071 0 0 0 4,221 Substandard 0 0 0 29 439 0 77 0 545 Doubtful 0 0 0 0 0 0 0 0 0 Total $ 99,906 $ 168,372 $ 9,402 $ 11,170 $ 3,363 $ 898 $ 5,758 $ 0 $ 298,869 Multifamily (5 or more) residential properties Risk rating Pass $ 74,687 $ 55,663 $ 33,436 $ 7,937 $ 27,729 $ 12,882 $ 2,438 $ 0 $ 214,772 Special mention 0 0 0 0 0 100 0 0 100 Substandard 0 6 682 379 204 0 0 0 1,271 Doubtful 0 0 0 0 0 0 0 0 0 Total $ 74,687 $ 55,669 $ 34,118 $ 8,316 $ 27,933 $ 12,982 $ 2,438 $ 0 $ 216,143 Non-owner occupied, nonfarm nonresidential properties Risk rating Pass $ 194,800 $ 125,039 $ 84,943 $ 52,233 $ 42,714 $ 123,021 $ 8,784 $ 0 $ 631,534 Special mention 0 0 428 1,004 189 5,556 2,451 0 9,628 Substandard 826 0 2,305 1,662 4,638 12,134 335 0 21,900 Doubtful 0 0 0 0 0 0 0 0 0 Total $ 195,626 $ 125,039 $ 87,676 $ 54,899 $ 47,541 $ 140,711 $ 11,570 $ 0 $ 663,062 The following tables detail the amortized cost of loans receivable, by year of origination (for term loans) and by payment activity within each portfolio segment as of June 30, 2022. The current period originations may include modifications, extensions and renewals. Term Loans Amortized Cost Basis by Origination Year 2022 2021 2020 2019 2018 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Total 1-4 Family Construction Payment performance Performing $ 10,338 $ 22,977 $ 6,740 $ 740 $ 64 $ 0 $ 131 $ 0 $ 40,990 Nonperforming 0 0 0 0 0 0 0 0 0 Total $ 10,338 $ 22,977 $ 6,740 $ 740 $ 64 $ 0 $ 131 $ 0 $ 40,990 Home equity lines of credit Payment performance Performing $ 19,051 $ 16,290 $ 12,999 $ 8,529 $ 8,637 $ 40,985 $ 8,759 $ 0 $ 115,250 Nonperforming 0 0 0 10 8 568 0 0 586 Total $ 19,051 $ 16,290 $ 12,999 $ 8,539 $ 8,645 $ 41,553 $ 8,759 $ 0 $ 115,836 Residential mortgages secured by first lien Payment performance Performing $ 121,438 $ 226,101 $ 165,399 $ 99,774 $ 54,696 $ 201,139 $ 3,401 $ 0 $ 871,948 Nonperforming 0 619 281 405 128 2,404 189 0 4,026 Total $ 121,438 $ 226,720 $ 165,680 $ 100,179 $ 54,824 $ 203,543 $ 3,590 $ 0 $ 875,974 Residential mortgages secured by junior liens Payment performance Performing $ 13,080 $ 18,915 $ 9,713 $ 5,919 $ 3,477 $ 10,243 $ 665 $ 0 $ 62,012 Nonperforming 0 0 0 3 0 152 45 0 200 Total $ 13,080 $ 18,915 $ 9,713 $ 5,922 $ 3,477 $ 10,395 $ 710 $ 0 $ 62,212 Other revolving credit plans Payment performance Performing $ 4,003 $ 4,197 $ 4,268 $ 3,030 $ 2,318 $ 10,903 $ 0 $ 0 $ 28,719 Nonperforming 0 0 0 5 20 24 0 0 49 Total $ 4,003 $ 4,197 $ 4,268 $ 3,035 $ 2,338 $ 10,927 $ 0 $ 0 $ 28,768 Automobile Payment performance Performing $ 4,469 $ 5,696 $ 4,080 $ 3,324 $ 1,752 $ 815 $ 0 $ 0 $ 20,136 Nonperforming 0 0 16 9 5 0 0 0 30 Total $ 4,469 $ 5,696 $ 4,096 $ 3,333 $ 1,757 $ 815 $ 0 $ 0 $ 20,166 Other consumer Payment performance Performing $ 16,282 $ 21,765 $ 7,565 $ 3,084 $ 1,005 $ 1,428 $ 0 $ 0 $ 51,129 Nonperforming 40 420 54 40 6 76 0 0 636 Total $ 16,322 $ 22,185 $ 7,619 $ 3,124 $ 1,011 $ 1,504 $ 0 $ 0 $ 51,765 The following tables detail the amortized cost of loans receivable, by year of origination (for term loans) and by payment activity within each portfolio segment as of December 31, 2021. The current period originations may include modifications, extensions and renewals. Term Loans Amortized Cost Basis by Origination Year 2021 2020 2019 2018 2017 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Total 1-4 Family Construction Payment performance Performing $ 27,539 $ 9,137 $ 857 $ 66 $ 0 $ 0 $ 223 $ 0 $ 37,822 Nonperforming 0 0 0 0 0 0 0 0 0 Total $ 27,539 $ 9,137 $ 857 $ 66 $ 0 $ 0 $ 223 $ 0 $ 37,822 Home equity lines of credit Payment performance Performing $ 14,383 $ 14,621 $ 9,564 $ 10,584 $ 6,863 $ 39,527 $ 8,151 $ 0 $ 103,693 Nonperforming 0 0 9 10 377 428 0 0 824 Total $ 14,383 $ 14,621 $ 9,573 $ 10,594 $ 7,240 $ 39,955 $ 8,151 $ 0 $ 104,517 Residential mortgages secured by first lien Payment performance Performing $ 232,606 $ 178,380 $ 111,333 $ 62,850 $ 74,136 $ 160,402 $ 3,475 $ 0 $ 823,182 Nonperforming 79 259 227 151 258 2,379 194 0 3,547 Total $ 232,685 $ 178,639 $ 111,560 $ 63,001 $ 74,394 $ 162,781 $ 3,669 $ 0 $ 826,729 Residential mortgages secured by junior liens Payment performance Performing $ 20,617 $ 11,256 $ 7,239 $ 4,407 $ 3,508 $ 9,095 $ 420 $ 0 $ 56,542 Nonperforming 0 0 0 0 84 63 0 0 147 Total $ 20,617 $ 11,256 $ 7,239 $ 4,407 $ 3,592 $ 9,158 $ 420 $ 0 $ 56,689 Other revolving credit plans Payment performance Performing $ 5,313 $ 3,596 $ 3,090 $ 2,592 $ 2,977 $ 8,955 $ 0 $ 0 $ 26,523 Nonperforming 0 0 4 4 0 5 0 0 13 Total $ 5,313 $ 3,596 $ 3,094 $ 2,596 $ 2,977 $ 8,960 $ 0 $ 0 $ 26,536 Automobile Payment performance Performing $ 7,047 $ 5,448 $ 4,668 $ 2,457 $ 682 $ 524 $ 0 $ 0 $ 20,826 Nonperforming 11 13 12 0 0 0 0 0 36 Total $ 7,058 $ 5,461 $ 4,680 $ 2,457 $ 682 $ 524 $ 0 $ 0 $ 20,862 Other consumer Payment performance Performing $ 30,423 $ 11,017 $ 4,537 $ 1,451 $ 316 $ 1,374 $ 0 $ 0 $ 49,118 Nonperforming 204 170 96 25 3 60 0 0 558 Total $ 30,627 $ 11,187 $ 4,633 $ 1,476 $ 319 $ 1,434 $ 0 $ 0 $ 49,676 June 30, 2022 December 31, 2021 Credit card Payment performance Performing $ 11,046 $ 9,912 Nonperforming 3 23 Total $ 11,049 $ 9,935 |
Recorded Investment in Residential, Consumer and Credit Card Loans Based on Payment Activity | The Corporation considers the performance of the loan portfolio and its impact on the allowance for credit losses. For 1-4 family construction, home equity lines of credit, residential mortgages secured by first liens, residential mortgages secured by junior liens, automobile, credit cards, other revolving credit plans and other consumer segments, the Corporation evaluates credit quality based on the performance status of the loan, which was previously presented, and by payment activity. Nonperforming loans include loans receivable on nonaccrual status and loans receivable past due over 89 days and still accruing interest. June 30, 2022 December 31, 2021 Performing Nonperforming Total Performing Nonperforming Total 1-4 Family Construction $ 40,990 $ 0 $ 40,990 $ 37,822 $ 0 $ 37,822 Home equity lines of credit 115,250 586 115,836 103,693 824 104,517 Residential Mortgages secured by first liens 871,948 4,026 875,974 823,182 3,547 826,729 Residential Mortgages secured by junior liens 62,012 200 62,212 56,542 147 56,689 Other revolving credit plans 28,719 49 28,768 26,523 13 26,536 Automobile 20,136 30 20,166 20,826 36 20,862 Other consumer 51,129 636 51,765 49,118 558 49,676 Total $ 1,190,184 $ 5,527 $ 1,195,711 $ 1,117,706 $ 5,125 $ 1,122,831 |
Summary of Holiday's Loan Portfolio Included in Consumer and Residential Loans | Holiday’s loan portfolio, included in other consumer loans above, is summarized as follows at June 30, 2022 and December 31, 2021: June 30, 2022 December 31, 2021 Gross other consumer $ 30,058 $ 29,227 Less: other consumer unearned discounts (5,762) (5,716) Total other consumer loans, net of unearned discounts $ 24,296 $ 23,511 |
LEASES (Tables)
LEASES (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Leases [Abstract] | |
Schedule Of Operating And Finance Lease Liabilities | Leases Classification June 30, 2022 December 31, 2021 Assets: Operating lease assets Operating lease assets $ 25,471 $ 19,928 Finance lease assets Premises and equipment, net (1) 322 358 Total leased assets $ 25,793 $ 20,286 Liabilities: Operating lease liabilities Operating lease liabilities $ 26,785 $ 21,159 Finance lease liabilities Accrued interest payable and other liabilities 426 469 Total leased liabilities $ 27,211 $ 21,628 (1) Finance lease assets are recorded net of accumulated amortization of $894 thousand as of June 30, 2022 and $858 thousand as of December 31, 2021. |
Schedule Of Lease Cost | The components of the Corporation's net lease expense for the three and six months ended June 30, 2022 and 2021, respectively, were as follows: Three Months Ended June 30, Six Months Ended June 30, Lease Cost Classification 2022 2021 2022 2021 Operating lease cost Net occupancy expense $ 566 $ 437 $ 1,058 $ 877 Variable lease cost Net occupancy expense 17 18 30 35 Finance lease cost: Amortization of leased assets Net occupancy expense 18 18 36 36 Interest on lease liabilities Interest expense - borrowed funds 5 6 10 12 Sublease income (1) Net occupancy expense (17) (19) (33) (38) Net lease cost $ 589 $ 460 $ 1,101 $ 922 (1) Sublease income excludes rental income from owned properties. |
Finance Lease, Liability, Maturity | The following table sets forth future minimum rental payments under noncancellable leases with initial terms in excess of one year as of June 30, 2022: Maturity of Lease Liabilities as of June 30, 2022 Operating Leases (1) Finance Leases Total 2022 $ 1,024 $ 52 $ 1,076 2023 1,961 105 2,066 2024 1,890 105 1,995 2025 1,883 105 1,988 2026 1,854 105 1,959 After 2026 30,622 0 30,622 Total lease payments 39,234 472 39,706 Less: Interest 12,449 46 12,495 Present value of lease liabilities $ 26,785 $ 426 $ 27,211 (1) Operating lease payments include payments related to options to extend lease terms that are reasonably certain of being exercised and exclude $7.8 million of legally binding minimum lease payments for leases signed, but not yet commenced. |
Summary of Minimum Annual Rental Commitments Under Operating Lease | The following table sets forth future minimum rental payments under noncancellable leases with initial terms in excess of one year as of June 30, 2022: Maturity of Lease Liabilities as of June 30, 2022 Operating Leases (1) Finance Leases Total 2022 $ 1,024 $ 52 $ 1,076 2023 1,961 105 2,066 2024 1,890 105 1,995 2025 1,883 105 1,988 2026 1,854 105 1,959 After 2026 30,622 0 30,622 Total lease payments 39,234 472 39,706 Less: Interest 12,449 46 12,495 Present value of lease liabilities $ 26,785 $ 426 $ 27,211 (1) Operating lease payments include payments related to options to extend lease terms that are reasonably certain of being exercised and exclude $7.8 million of legally binding minimum lease payments for leases signed, but not yet commenced. |
Schedule of Weighted Average Lease Term and Discount Rate | Lease terms and discount rates related to the Corporation's lease liabilities as of June 30, 2022 and December 31, 2021 were as follows: Lease Term and Discount Rate June 30, 2022 December 31, 2021 Weighted-average remaining lease term (years) Operating leases 22.1 18.8 Finance leases 4.5 5.0 Weighted-average discount rate Operating leases 3.37 % 3.42 % Finance leases 4.49 % 4.49 % Other information related to the Corporation's lease liabilities as of June 30, 2022 and 2021, respectively, was as follows: Other Information June 30, 2022 June 30, 2021 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 581 $ 452 |
DEPOSITS (Tables)
DEPOSITS (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Deposits [Abstract] | |
Summary of Time Certificates of Deposit Accounts Included in Total Deposits and Their Remaining Maturities | The following table reflects time certificates of deposit accounts included in total deposits and their remaining maturities at June 30, 2022: Time deposits maturing: 2022 $ 134,701 2023 68,882 2024 36,206 2025 38,976 2026 10,694 Thereafter 14,818 $ 304,277 |
OFF-BALANCE SHEET COMMITMENTS_2
OFF-BALANCE SHEET COMMITMENTS AND CONTINGENCIES (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Fair Value Disclosures [Abstract] | |
Schedule of Off-Balance Sheet Risks | The Corporation's maximum obligation to extend credit for loan commitments (unfunded loans and unused lines of credit) and standby letters of credit outstanding as of June 30, 2022 and December 31, 2021 were as follows: June 30, 2022 December 31, 2021 Fixed Rate Variable Rate Fixed Rate Variable Rate Commitments to make loans $ 82,054 $ 374,464 $ 94,924 $ 323,013 Unused lines of credit 17,804 679,710 13,265 663,903 Standby letters of credit 15,807 1,640 15,063 1,623 |
Allowance For Credit Losses | The following table presents activity in the allowance for credit losses on unfunded loan commitments for the three and six months ended June 30, 2022 and 2021, respectively: Three Months Ended Six Months Ended June 30, June 30, 2022 2021 2022 2021 Beginning balance $ 586 $ 0 $ 0 $ 0 Provision for credit losses on unfunded loan commitments (1) 0 0 586 0 Ending balance 586 $ 0 $ 586 $ 0 (1) Excludes provision for credit losses related to the loan portfolio. |
STOCK COMPENSATION (Tables)
STOCK COMPENSATION (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Share-Based Payment Arrangement [Abstract] | |
Summary of Changes in Unvested Restricted Stock Awards | A summary of changes in time-based unvested restricted stock awards for the three months ended June 30, 2022 follows: Shares Per Share Weighted Average Grant Date Fair Value Unvested at beginning of period 88,891 $ 20.10 Granted 0 0.00 Forfeited (1,090) 25.06 Vested (89) 25.27 Unvested at end of period 87,712 $ 20.18 A summary of changes in time-based unvested restricted stock awards for the six months ended June 30, 2022 follows: Shares Per Share Weighted Average Grant Date Fair Value Unvested at beginning of period 69,643 $ 24.18 Granted 44,369 26.71 Forfeited (1,090) 25.06 Vested (25,210) 24.78 Unvested at end of period 87,712 $ 20.18 |
EARNINGS PER COMMON SHARE (Tabl
EARNINGS PER COMMON SHARE (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Earnings Per Share [Abstract] | |
Computation of Basic and Diluted Earnings Per Share | The computation of basic and diluted earnings per common share is shown below: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Basic earnings per common share computation: Net income per condensed consolidated statements of income $ 14,363 $ 12,915 $ 28,533 $ 26,021 Net earnings allocated to participating securities (68) (47) (132) (92) Net earnings allocated to common stock $ 14,295 $ 12,868 $ 28,401 $ 25,929 Distributed earnings allocated to common stock $ 2,935 $ 2,859 $ 5,879 $ 5,718 Undistributed earnings allocated to common stock 11,360 10,009 22,522 20,211 Net earnings allocated to common stock $ 14,295 $ 12,868 $ 28,401 $ 25,929 Weighted average common shares outstanding, including shares considered participating securities 16,860 16,885 16,871 16,870 Less: Average participating securities (78) (60) (75) (58) Weighted average shares 16,782 16,825 16,796 16,812 Basic earnings per common share $ 0.85 $ 0.76 $ 1.69 $ 1.54 Diluted earnings per common share computation: Net earnings allocated to common stock $ 14,295 $ 12,868 $ 28,401 $ 25,929 Weighted average common shares outstanding for basic earnings per common share 16,782 16,825 16,796 16,812 Add: Dilutive effects of performance based-shares 33 0 33 0 Weighted average shares and dilutive potential common shares 16,815 16,825 16,829 16,812 Diluted earnings per common share $ 0.85 $ 0.76 $ 1.69 $ 1.54 |
DERIVATIVE INSTRUMENTS (Tables)
DERIVATIVE INSTRUMENTS (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Amounts and Locations of Activity Related to Interest Rate Swaps Designated as Cash Flow Hedges Within Corporation's Consolidated Balance Sheet and Statement of Income | The following tables provide information about the amounts and locations of activity related to the interest rate swaps designated as cash flow hedges within the Corporation’s condensed consolidated balance sheets and statements of income as of June 30, 2022 and December 31, 2021 and for the three and six months ended June 30, 2022 and 2021: Fair value as of Balance Sheet June 30, 2022 December 31, 2021 Interest rate contracts Accrued interest and $ 18 $ (388) For the Three Months (a) (b) (c) (d) (e) Interest rate contracts $ 110 Interest expense – $ (51) Other $ 0 For the Six Months (a) (b) (c) (d) (e) Interest rate contracts $ 322 Interest expense – $ (118) Other $ 0 For the Three Months (a) (b) (c) (d) (e) Interest rate contracts $ 50 Interest expense – $ (62) Other $ 0 For the Six Months (a) (b) (c) (d) (e) Interest rate contracts $ 134 Interest expense – $ (131) Other $ 0 (a) Amount of Gain or (Loss) Recognized in Other Comprehensive Loss on Derivative (Effective Portion), net of tax (b) Location of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Loss into Income (Effective Portion) (c) Amount of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Loss into Income (Effective Portion) (d) Location of Gain or (Loss) Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing) (e) Amount of Gain or (Loss) Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing) |
Amounts and Locations of Activity Related to Back-to-back Interest Rate Swaps Within Corporation's Consolidated Balance Sheet | The following table provides information about the amounts and locations of activity related to the back-to-back interest rate swaps within the Corporation’s condensed consolidated balance sheet as of June 30, 2022 and December 31, 2021: Notional Weighted Weighted Weighted Average Fair June 30, 2022 3rd Party interest rate swaps $ 32,095 5.44 4.12 % 1 month LIBOR + 2.27% $ 441 (a) Customer interest rate swaps (32,095) 5.44 4.12 % 1 month LIBOR + 2.27% (441) (b) December 31, 2021 3rd Party interest rate swaps $ 32,768 5.8 4.12 % 1 month LIBOR + 2.27% $ 2,124 (a) Customer interest rate swaps (32,768) 5.8 4.12 % 1 month LIBOR + 2.27% (2,124) (b) (a) Reported in accrued interest receivable and other assets within the condensed consolidated balance sheets (b) Reported in accrued interest payable and other liabilities within the condensed consolidated balance sheets |
FAIR VALUE (Tables)
FAIR VALUE (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Fair Value Disclosures [Abstract] | |
Assets and Liabilities Measured at Fair Value on Recurring Basis | Assets and liabilities measured at fair value on a recurring basis are as follows at June 30, 2022 and December 31, 2021: Fair Value Measurements at June 30, 2022 Using: Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Description Total (Level 1) (Level 2) (Level 3) Assets: Securities Available-For-Sale: U.S. Government sponsored entities $ 2,211 $ 0 $ 2,211 $ 0 States and political subdivisions 103,509 0 103,509 0 Residential and multi-family mortgage 244,513 0 244,513 0 Corporate notes and bonds 39,080 0 39,080 0 Pooled SBA 15,094 0 15,094 0 Total Securities Available-For-Sale $ 404,407 $ 0 $ 404,407 $ 0 Interest Rate swaps $ 441 $ 0 $ 441 $ 0 Equity Securities: Corporate equity securities $ 6,272 $ 6,272 $ 0 $ 0 Mutual funds 2,591 2,591 0 0 Corporate notes and bonds 676 676 0 0 Total Trading Securities $ 9,539 $ 9,539 $ 0 $ 0 Liabilities: Interest Rate Swaps $ (423) $ 0 $ (423) $ 0 Fair Value Measurements at December 31, 2021 Using: Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Description Total (Level 1) (Level 2) (Level 3) Assets: Securities Available-For-Sale: U.S. Government sponsored entities $ 111,748 $ 0 $ 111,748 $ 0 States and political subdivisions 103,712 0 103,712 0 Residential and multi-family mortgage 434,635 4,995 429,640 0 Corporate notes and bonds 28,064 0 28,064 0 Pooled SBA 19,032 0 19,032 0 Total Securities Available-For-Sale $ 697,191 $ 4,995 $ 692,196 $ 0 Interest Rate swaps $ 2,124 $ 0 $ 2,124 $ 0 Equity Securities: Corporate equity securities $ 6,715 $ 6,715 $ 0 $ 0 Mutual funds 2,566 2,566 0 0 Certificates of deposit 506 506 0 0 Corporate notes and bonds 579 579 0 0 Total Trading Securities $ 10,366 $ 10,366 $ 0 $ 0 Liabilities: Interest Rate Swaps $ (2,512) $ 0 $ (2,512) $ 0 |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation | The table below presents a reconciliation of the fair value of securities AFS measured on a recurring basis using significant unobservable inputs (Level 3) for the three months ended June 30, 2021: Corporate Notes and Bonds Balance, April 1, 2021 $ 2,250 Purchases 6,000 Total gains or (losses): Included in other comprehensive income (loss) 76 Settlements 0 Transfers into Level 3 1,500 Transfers out of Level 3 0 Balance, June 30, 2021 $ 9,826 The table below presents a reconciliation of the fair value of securities AFS measured on a recurring basis using significant unobservable inputs (Level 3) for the six months ended June 30, 2021: States and Political Subdivisions Corporate Notes and Bonds Balance, January 1, 2021 $ 64 $ 0 Purchases 0 6,750 Total gains or (losses): Included in other comprehensive income (loss) 0 76 Settlements (64) 0 Transfers into Level 3 0 3,000 Transfers out of Level 3 0 0 Balance, June 30, 2021 $ 0 $ 9,826 |
Assets and Liabilities Measured at Fair Value on Non-recurring Basis | Assets and liabilities measured at fair value on a non-recurring basis are as follows at June 30, 2022 and December 31, 2021: Fair Value Measurements at June 30, 2022 Using Description Total Quoted Prices in Significant Other Significant Assets: Collateral-dependent loans receivable: Farmland $ 895 $ 0 $ 0 $ 895 Owner-occupied, nonfarm nonresidential properties 1,163 0 0 1,163 Commercial and industrial 1,723 0 0 1,723 Multifamily (5 or more) residential properties 543 0 0 543 Non-owner occupied, nonfarm nonresidential 2,746 0 0 2,746 Residential Mortgages secured by first liens 650 0 0 650 Fair Value Measurements at December 31, 2021 Using Description Total Quoted Prices in Significant Other Significant Assets: Collateral-dependent loans receivable: Farmland $ 920 $ 0 $ 0 $ 920 Owner-occupied, nonfarm nonresidential properties 194 0 0 194 Commercial and industrial 3,102 0 0 3,102 Other construction loans and all land development loans and other land loans 248 0 0 248 Multifamily (5 or more) residential properties 627 0 0 627 Non-owner occupied, nonfarm nonresidential 2,889 0 0 2,889 |
Quantitative Information about Level 3 Fair Value Measurements for Financial Instruments Measured at Fair Value on Non Recurring Basis | The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis at June 30, 2022: Fair Valuation Unobservable Inputs Range Collateral-dependent loans receivable: Farmland $ 895 Valuation of third party appraisal on underlying collateral Loss severity rates 60% (60%) Owner-occupied, nonfarm nonresidential properties 1,163 Valuation of third party appraisal on underlying collateral Loss severity rates 0%-60% (37%) Commercial and industrial 1,723 Valuation of third party appraisal on underlying collateral Loss severity rates 0%-50% (32%) Multifamily (5 or more) residential properties 543 Valuation of third party appraisal on underlying collateral Loss severity rates 0%-60% (23%) Non-owner occupied, nonfarm nonresidential 2,746 Valuation of third party appraisal on underlying collateral Loss severity rates 25%-60% (35%) Residential Mortgages secured by first liens 650 Valuation of third party appraisal on underlying collateral Loss severity rates 25%-57% (40%) The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis at December 31, 2021: Fair Valuation Unobservable Inputs Range Collateral-dependent loans receivable: Farmland $ 920 Valuation of third party appraisal on underlying collateral Loss severity rates 60% (60%) Owner-occupied, nonfarm nonresidential properties 194 Valuation of third party appraisal on underlying collateral Loss severity rates 0%-60% (57%) Commercial and industrial 3,102 Valuation of third party appraisal on underlying collateral Loss severity rates 0%-59% (42%) Other construction loans and all land development loans and other land loans 248 Valuation of third party appraisal on underlying collateral Loss severity rates 25% (25%) Multifamily (5 or more) residential properties 627 Valuation of third party appraisal on underlying collateral Loss severity rates 0%-57% (26%) Non-owner occupied, nonfarm nonresidential 2,889 Valuation of third party appraisal on underlying collateral Loss severity rates 25%-60% (34%) |
Carrying Amount and Fair Value of Financial Instruments | The following table presents the carrying amount and fair value of financial instruments at June 30, 2022: Carrying Fair Value Measurement Using: Total Amount Level 1 Level 2 Level 3 Fair Value ASSETS Cash and cash equivalents $ 284,154 $ 284,154 $ 0 $ 0 $ 284,154 Debt securities available-for-sale 404,407 0 404,407 0 404,407 Debt securities held-to-maturity 413,310 0 389,933 0 389,933 Equity securities 9,539 9,539 0 0 9,539 Loans held for sale 843 0 846 0 846 Net loans receivable 3,869,210 0 0 3,869,617 3,869,617 FHLB and other restricted stock holdings and investments 24,484 n/a n/a n/a n/a Interest rate swaps 441 0 441 0 441 Accrued interest receivable 16,731 0 2,865 13,866 16,731 LIABILITIES Deposits $ (4,701,820) $ (4,397,542) $ (307,246) $ 0 $ (4,704,788) Subordinated debentures (20,620) 0 (14,084) 0 (14,084) Subordinated notes, net of unamortized issuance costs (83,812) 0 (83,922) 0 (83,922) Interest rate swaps (423) 0 (423) 0 (423) Accrued interest payable (567) 0 (567) 0 (567) The following table presents the carrying amount and fair value of financial instruments at December 31, 2021: Carrying Fair Value Measurement Using: Total Amount Level 1 Level 2 Level 3 Fair Value ASSETS Cash and cash equivalents $ 732,198 $ 732,198 $ 0 $ 0 $ 732,198 Debt securities available-for-sale 697,191 4,995 692,196 0 697,191 Equity securities 10,366 10,366 0 0 10,366 Loans held for sale 849 0 858 0 858 Net loans receivable 3,597,204 0 0 3,613,452 3,613,452 FHLB and other restricted stock holdings and investments 23,276 n/a n/a n/a n/a Interest rate swaps 2,124 0 2,124 0 2,124 Accrued interest receivable 15,516 16 2,171 13,329 15,516 LIABILITIES Deposits $ (4,715,619) $ (4,329,167) $ (391,850) $ 0 $ (4,721,017) Subordinated notes, net of unamortized issuance costs (104,281) 0 (92,675) 0 (92,675) Interest rate swaps (2,512) 0 (2,512) 0 (2,512) Accrued interest payable (886) 0 (886) 0 (886) |
REVENUE FROM CONTRACTS WITH C_2
REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Revenue from Contract with Customer [Abstract] | |
Disaggregation of Revenue Derived From Contracts With Customers | The following table presents the Corporation's Non-Interest Income by revenue stream and reportable segment for the three and six months ended June 30, 2022 and 2021. Items outside the scope of ASC 606 are noted as such. Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Non-interest Income Service charges on deposit accounts $ 1,771 $ 1,446 $ 3,528 $ 2,794 Wealth and asset management fees 1,803 1,765 3,586 3,287 Mortgage banking (1) 292 536 767 1,771 Card processing and interchange income 1,992 2,079 3,801 3,913 Net gains (losses) on sales of securities (1) 0 0 651 0 Other income 2,288 2,031 5,467 4,331 Total non-interest income $ 8,146 $ 7,857 $ 17,800 $ 16,096 (1) Not within scope of ASU 2014-9 |
SUMMARY OF SIGNIFICANT ACCOUN_3
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) | 6 Months Ended |
Jun. 30, 2022 Segment | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Number of reportable segments | 1 |
SECURITIES - Securities Availab
SECURITIES - Securities Available for Sale (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Debt Securities, Available-for-sale [Line Items] | ||
Total debt securities | $ 450,904 | $ 698,085 |
Unrealized Gains | 297 | 9,550 |
Unrealized Losses | (46,794) | (10,444) |
Debt securities available-for-sale | 404,407 | 697,191 |
U.S. Government sponsored entities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Total debt securities | 2,278 | 110,788 |
Unrealized Gains | 0 | 2,728 |
Unrealized Losses | (67) | (1,768) |
Debt securities available-for-sale | 2,211 | 111,748 |
States and political subdivisions | ||
Debt Securities, Available-for-sale [Line Items] | ||
Total debt securities | 116,408 | 103,232 |
Unrealized Gains | 147 | 2,162 |
Unrealized Losses | (13,046) | (1,682) |
Debt securities available-for-sale | 103,509 | 103,712 |
Residential & multi-family mortgage | ||
Debt Securities, Available-for-sale [Line Items] | ||
Total debt securities | 273,603 | 437,021 |
Unrealized Gains | 114 | 4,127 |
Unrealized Losses | (29,204) | (6,513) |
Debt securities available-for-sale | 244,513 | 434,635 |
Corporate notes and bonds | ||
Debt Securities, Available-for-sale [Line Items] | ||
Total debt securities | 42,669 | 28,257 |
Unrealized Gains | 27 | 250 |
Unrealized Losses | (3,616) | (443) |
Debt securities available-for-sale | 39,080 | 28,064 |
Pooled SBA | ||
Debt Securities, Available-for-sale [Line Items] | ||
Total debt securities | 15,946 | 18,787 |
Unrealized Gains | 9 | 283 |
Unrealized Losses | (861) | (38) |
Debt securities available-for-sale | $ 15,094 | $ 19,032 |
SECURITIES - Securities Held-to
SECURITIES - Securities Held-to-Maturities (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized cost | $ 413,310 | $ 0 |
Unrealized Gains | 0 | 0 |
Unrealized Losses | (23,377) | 0 |
Debt securities held-to-maturity | 389,933 | 0 |
U.S. Government sponsored entities | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized cost | 307,634 | 0 |
Unrealized Gains | 0 | 0 |
Unrealized Losses | (18,327) | 0 |
Debt securities held-to-maturity | 289,307 | 0 |
Residential & multi-family mortgage | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized cost | 105,676 | 0 |
Unrealized Gains | 0 | 0 |
Unrealized Losses | (5,050) | 0 |
Debt securities held-to-maturity | $ 100,626 | $ 0 |
SECURITIES - Narrative (Details
SECURITIES - Narrative (Details) $ in Thousands | 3 Months Ended | 6 Months Ended | |||||
Apr. 01, 2022 USD ($) security | Jan. 01, 2022 USD ($) security | Jun. 30, 2022 USD ($) security | Jun. 30, 2021 USD ($) | Jun. 30, 2022 USD ($) security | Jun. 30, 2021 USD ($) | Dec. 31, 2021 USD ($) security | |
Debt and Equity Securities, FV-NI [Line Items] | |||||||
Number of securities transferred | security | 51 | 23 | |||||
Transfer of debt securities, fair value | $ 112,600 | $ 101,100 | |||||
Net unrealized holding gain (loss) | $ (6,000) | $ 373 | |||||
Reclassification adjustment for realized gains included in net income, tax | $ 0 | $ 0 | $ 137 | $ 0 | |||
Number of securities holdings | security | 0 | 0 | 0 | ||||
Shareholders equity, percentage | 10% | 10% | 10% | ||||
Collateral Pledged | |||||||
Debt and Equity Securities, FV-NI [Line Items] | |||||||
Securities pledged to public deposits | $ 626,000 | $ 626,000 | $ 461,500 |
SECURITIES - Information Pertai
SECURITIES - Information Pertaining to Security Sales (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Investments, Debt and Equity Securities [Abstract] | ||||
Proceeds | $ 0 | $ 0 | $ 22,164 | $ 0 |
Gross Gains | 0 | 0 | 651 | 0 |
Gross Losses | $ 0 | $ 0 | $ 0 | $ 0 |
SECURITIES - Schedule of Contra
SECURITIES - Schedule of Contractual Maturity of Securities Available for Sale, Excluding Equity Securities (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Amortized Cost | ||
1 year or less | $ 4,854 | |
1 year – 5 years | 34,134 | |
5 years – 10 years | 91,531 | |
After 10 years | 30,836 | |
Total, Amortized Cost | 161,355 | |
Total debt securities | 450,904 | $ 698,085 |
Fair Value | ||
1 year or less | 4,869 | |
1 year – 5 years | 33,151 | |
5 years – 10 years | 81,388 | |
After 10 years | 25,392 | |
Total, Fair Value | 144,800 | |
Total debt securities | 404,407 | 697,191 |
Amortized Cost | ||
1 year or less | 5,125 | |
1 year – 5 years | 232,236 | |
5 years – 10 years | 64,786 | |
After 10 years | 5,487 | |
Total, Amortized Cost | 307,634 | |
Total debt securities | 413,310 | 0 |
Fair Value | ||
1 year or less | 5,018 | |
1 year – 5 years | 221,284 | |
5 years – 10 years | 58,206 | |
After 10 years | 4,799 | |
Total, Fair Value | 289,307 | |
Total debt securities | 389,933 | 0 |
Residential & multi-family mortgage | ||
Amortized Cost | ||
Mortgage & asset backed securities, Amortized Cost | 273,603 | |
Total debt securities | 273,603 | 437,021 |
Fair Value | ||
Mortgage & asset backed securities, Fair Value | 244,513 | |
Total debt securities | 244,513 | 434,635 |
Amortized Cost | ||
Mortgage & asset backed securities, Amortized Cost | 105,676 | |
Fair Value | ||
Mortgage & asset backed securities, Fair Value | 100,626 | |
Total debt securities | 100,626 | 0 |
Pooled SBA | ||
Amortized Cost | ||
Mortgage & asset backed securities, Amortized Cost | 15,946 | |
Total debt securities | 15,946 | 18,787 |
Fair Value | ||
Mortgage & asset backed securities, Fair Value | 15,094 | |
Total debt securities | 15,094 | $ 19,032 |
Amortized Cost | ||
Mortgage & asset backed securities, Amortized Cost | 0 | |
Fair Value | ||
Mortgage & asset backed securities, Fair Value | $ 0 |
SECURITIES - Securities with Un
SECURITIES - Securities with Unrealized Loss Position (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Less than 12 Months | ||
Fair Value | $ 285,501 | $ 338,919 |
Unrealized Loss | (31,922) | (7,075) |
12 Months or More | ||
Fair Value | 83,095 | 92,055 |
Unrealized Loss | (14,872) | (3,369) |
Fair Value | 368,596 | 430,974 |
Unrealized Loss | (46,794) | (10,444) |
U.S. Government sponsored entities | ||
Less than 12 Months | ||
Fair Value | 2,211 | 23,733 |
Unrealized Loss | (67) | (553) |
12 Months or More | ||
Fair Value | 0 | 37,911 |
Unrealized Loss | 0 | (1,215) |
Fair Value | 2,211 | 61,644 |
Unrealized Loss | (67) | (1,768) |
States and political subdivisions | ||
Less than 12 Months | ||
Fair Value | 73,314 | 55,636 |
Unrealized Loss | (10,174) | (1,399) |
12 Months or More | ||
Fair Value | 11,016 | 5,026 |
Unrealized Loss | (2,872) | (283) |
Fair Value | 84,330 | 60,662 |
Unrealized Loss | (13,046) | (1,682) |
Residential & multi-family mortgage | ||
Less than 12 Months | ||
Fair Value | 164,539 | 248,690 |
Unrealized Loss | (17,703) | (4,837) |
12 Months or More | ||
Fair Value | 66,816 | 45,185 |
Unrealized Loss | (11,501) | (1,676) |
Fair Value | 231,355 | 293,875 |
Unrealized Loss | (29,204) | (6,513) |
Corporate notes and bonds | ||
Less than 12 Months | ||
Fair Value | 30,790 | 6,466 |
Unrealized Loss | (3,117) | (249) |
12 Months or More | ||
Fair Value | 5,263 | 3,806 |
Unrealized Loss | (499) | (194) |
Fair Value | 36,053 | 10,272 |
Unrealized Loss | (3,616) | (443) |
Pooled SBA | ||
Less than 12 Months | ||
Fair Value | 14,647 | 4,394 |
Unrealized Loss | (861) | (37) |
12 Months or More | ||
Fair Value | 0 | 127 |
Unrealized Loss | 0 | (1) |
Fair Value | 14,647 | 4,521 |
Unrealized Loss | $ (861) | $ (38) |
SECURITIES - Held-to-maturity D
SECURITIES - Held-to-maturity Debt Securities with Unrealized Loss Position (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Less than 12 Months | ||
Fair Value | $ 317,013 | $ 0 |
Unrealized Loss | (17,651) | 0 |
12 Months or More | ||
Fair Value | 72,920 | 0 |
Unrealized Loss | (5,726) | 0 |
Fair Value | 389,933 | 0 |
Unrealized Loss | (23,377) | 0 |
U.S. Government sponsored entities | ||
Less than 12 Months | ||
Fair Value | 241,832 | 0 |
Unrealized Loss | (14,169) | 0 |
12 Months or More | ||
Fair Value | 47,475 | 0 |
Unrealized Loss | (4,158) | 0 |
Fair Value | 289,307 | 0 |
Unrealized Loss | (18,327) | 0 |
Residential & multi-family mortgage | ||
Less than 12 Months | ||
Fair Value | 75,181 | 0 |
Unrealized Loss | (3,482) | 0 |
12 Months or More | ||
Fair Value | 25,445 | 0 |
Unrealized Loss | (1,568) | 0 |
Fair Value | 100,626 | 0 |
Unrealized Loss | $ (5,050) | $ 0 |
SECURITIES - Trading Securities
SECURITIES - Trading Securities (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Debt and Equity Securities, FV-NI [Line Items] | ||
Equity securities | $ 9,539 | $ 10,366 |
Corporate equity securities | ||
Debt and Equity Securities, FV-NI [Line Items] | ||
Equity securities | 6,272 | 6,715 |
Mutual funds | ||
Debt and Equity Securities, FV-NI [Line Items] | ||
Equity securities | 2,591 | 2,566 |
Certificates of deposit | ||
Debt and Equity Securities, FV-NI [Line Items] | ||
Equity securities | 0 | 506 |
Corporate notes and bonds | ||
Debt and Equity Securities, FV-NI [Line Items] | ||
Equity securities | $ 676 | $ 579 |
LOANS RECEIVABLE AND ALLOWANC_3
LOANS RECEIVABLE AND ALLOWANCE FOR CREDIT LOSSES - Schedule of Net Loans (Details) $ in Thousands | Jun. 30, 2022 USD ($) | Mar. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Jun. 30, 2021 USD ($) | Mar. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) |
Loan Portfolio By Loan Grade [Line Items] | ||||||
Loans receivable | $ 3,909,753 | $ 3,634,792 | ||||
Less: allowance for credit losses | (40,543) | $ (38,117) | (37,588) | $ (36,908) | $ (35,555) | $ (34,340) |
Net loans receivable | 3,869,210 | 3,597,204 | ||||
Net deferred loan origination fees (costs) included in the above table | $ 4,513 | $ 5,667 | ||||
Percentage of Total | 1 | 1 | ||||
Farmland | ||||||
Loan Portfolio By Loan Grade [Line Items] | ||||||
Loans receivable | $ 31,649 | $ 23,768 | ||||
Less: allowance for credit losses | $ (191) | (186) | $ (151) | (124) | (224) | (221) |
Percentage of Total | 0.008 | 0.007 | ||||
Owner-occupied, nonfarm nonresidential properties | ||||||
Loan Portfolio By Loan Grade [Line Items] | ||||||
Loans receivable | $ 463,922 | $ 434,672 | ||||
Less: allowance for credit losses | $ (3,714) | (3,595) | $ (3,339) | (2,880) | (2,935) | (3,700) |
Percentage of Total | 0.119 | 0.120 | ||||
Agricultural production and other loans to farmers | ||||||
Loan Portfolio By Loan Grade [Line Items] | ||||||
Loans receivable | $ 1,097 | $ 1,379 | ||||
Less: allowance for credit losses | $ (7) | (10) | $ (9) | (12) | (28) | (24) |
Percentage of Total | 0 | 0 | ||||
Commercial and Industrial | ||||||
Loan Portfolio By Loan Grade [Line Items] | ||||||
Loans receivable | $ 759,417 | $ 708,989 | ||||
Less: allowance for credit losses | $ (9,555) | (9,090) | $ (8,837) | (7,312) | (6,479) | (6,233) |
Percentage of Total | 0.194 | 0.195 | ||||
Obligations (other than securities and leases) of states and political subdivisions | ||||||
Loan Portfolio By Loan Grade [Line Items] | ||||||
Loans receivable | $ 143,488 | $ 140,887 | ||||
Less: allowance for credit losses | $ (1,665) | (1,828) | $ (1,649) | (2,325) | (1,715) | (998) |
Percentage of Total | 0.037 | 0.039 | ||||
Other loans | ||||||
Loan Portfolio By Loan Grade [Line Items] | ||||||
Loans receivable | $ 14,524 | $ 13,979 | ||||
Less: allowance for credit losses | $ (167) | (143) | $ (149) | (117) | (73) | (68) |
Percentage of Total | 0.004 | 0.004 | ||||
Other construction loans and all land development and other land loans | ||||||
Loan Portfolio By Loan Grade [Line Items] | ||||||
Loans receivable | $ 341,399 | $ 298,869 | ||||
Less: allowance for credit losses | $ (2,328) | (2,050) | $ (2,198) | (2,364) | (2,006) | (1,956) |
Percentage of Total | 0.087 | 0.082 | ||||
Multifamily (5 or more) residential properties | ||||||
Loan Portfolio By Loan Grade [Line Items] | ||||||
Loans receivable | $ 212,561 | $ 216,143 | ||||
Less: allowance for credit losses | $ (2,277) | (2,236) | $ (2,289) | (2,314) | (2,754) | (2,724) |
Percentage of Total | 0.055 | 0.059 | ||||
Non-owner occupied, nonfarm nonresidential properties | ||||||
Loan Portfolio By Loan Grade [Line Items] | ||||||
Loans receivable | $ 734,580 | $ 663,062 | ||||
Less: allowance for credit losses | $ (6,748) | (6,411) | $ (6,481) | (10,162) | (11,326) | (8,658) |
Percentage of Total | 0.188 | 0.182 | ||||
1-4 Family Construction | ||||||
Loan Portfolio By Loan Grade [Line Items] | ||||||
Loans receivable | $ 40,990 | $ 37,822 | ||||
Less: allowance for credit losses | $ (236) | (210) | $ (158) | (110) | (67) | (82) |
Percentage of Total | 0.010 | 0.010 | ||||
Home equity lines of credit | ||||||
Loan Portfolio By Loan Grade [Line Items] | ||||||
Loans receivable | $ 115,836 | $ 104,517 | ||||
Less: allowance for credit losses | $ (1,353) | (1,181) | $ (1,169) | (1,029) | (843) | (985) |
Percentage of Total | 0.030 | 0.029 | ||||
Residential Mortgages secured by first liens | ||||||
Loan Portfolio By Loan Grade [Line Items] | ||||||
Loans receivable | $ 875,974 | $ 826,729 | ||||
Less: allowance for credit losses | $ (7,664) | (6,905) | $ (6,943) | (4,398) | (3,550) | (4,539) |
Percentage of Total | 0.224 | 0.227 | ||||
Residential Mortgages secured by junior liens | ||||||
Loan Portfolio By Loan Grade [Line Items] | ||||||
Loans receivable | $ 62,212 | $ 56,689 | ||||
Less: allowance for credit losses | $ (628) | (552) | $ (546) | (408) | (224) | (241) |
Percentage of Total | 0.016 | 0.016 | ||||
Other revolving credit plans | ||||||
Loan Portfolio By Loan Grade [Line Items] | ||||||
Loans receivable | $ 28,768 | $ 26,536 | ||||
Less: allowance for credit losses | $ (598) | (547) | $ (528) | (459) | (527) | (507) |
Percentage of Total | 0.007 | 0.007 | ||||
Automobile | ||||||
Loan Portfolio By Loan Grade [Line Items] | ||||||
Loans receivable | $ 20,166 | $ 20,862 | ||||
Less: allowance for credit losses | $ (242) | (254) | $ (263) | (241) | (182) | (132) |
Percentage of Total | 0.005 | 0.006 | ||||
Other consumer | ||||||
Loan Portfolio By Loan Grade [Line Items] | ||||||
Loans receivable | $ 51,765 | $ 49,676 | ||||
Less: allowance for credit losses | $ (2,704) | (2,569) | $ (2,546) | (2,402) | (2,374) | (2,962) |
Percentage of Total | 0.013 | 0.014 | ||||
Credit cards | ||||||
Loan Portfolio By Loan Grade [Line Items] | ||||||
Loans receivable | $ 11,049 | $ 9,935 | ||||
Less: allowance for credit losses | $ (110) | (103) | $ (92) | (68) | (65) | (66) |
Percentage of Total | 0.003 | 0.003 | ||||
Overdrafts | ||||||
Loan Portfolio By Loan Grade [Line Items] | ||||||
Loans receivable | $ 356 | $ 278 | ||||
Less: allowance for credit losses | $ (356) | $ (247) | $ (241) | $ (183) | $ (183) | $ (244) |
Percentage of Total | 0 | 0 |
LOANS RECEIVABLE AND ALLOWANC_4
LOANS RECEIVABLE AND ALLOWANCE FOR CREDIT LOSSES - Additional Information (Details) | 3 Months Ended | 6 Months Ended | ||||||
Jun. 30, 2022 USD ($) loan | Jun. 30, 2021 USD ($) loan | Jun. 30, 2022 USD ($) loan | Jun. 30, 2021 USD ($) loan | Mar. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Mar. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | |
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||||||
Allowance for credit loss | $ 40,543,000 | $ 36,908,000 | $ 40,543,000 | $ 36,908,000 | $ 38,117,000 | $ 37,588,000 | $ 35,555,000 | $ 34,340,000 |
Loans receivable | 3,909,753,000 | 3,909,753,000 | 3,634,792,000 | |||||
Provision for credit loss expense | 2,905,000 | 1,967,000 | 4,548,000 | 4,089,000 | ||||
Allowance for unfunded commitments | 0 | $ 0 | 586,000 | $ 0 | ||||
Amortized cost in troubled debt restructurings | 17,800,000 | 17,800,000 | 16,600,000 | |||||
Financing receivable, troubled debt restructuring, allowance for loans | $ 2,600,000 | $ 2,600,000 | 2,600,000 | |||||
Financing receivable, modifications, number of contracts | loan | 0 | 1 | 1 | 3 | ||||
Minimum period to be considered for loan to have defaulted | 90 days | |||||||
Loans modified as troubled debt restructuring with subsequent defaults | loan | 0 | 0 | 0 | 0 | ||||
Principal balances forgiven in connection with loan restructuring | $ 0 | $ 0 | $ 0 | $ 0 | ||||
PPP loans, net of deferred processing fees | ||||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||||||
Loans receivable | 2,287,000 | 2,287,000 | 45,203,000 | |||||
Syndicated loans | ||||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||||||
Loans receivable | 153,154,000 | 153,154,000 | 125,761,000 | |||||
Commercial and Industrial | ||||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||||||
Allowance for credit loss | 9,555,000 | $ 7,312,000 | 9,555,000 | $ 7,312,000 | $ 9,090,000 | 8,837,000 | $ 6,479,000 | $ 6,233,000 |
Loans receivable | 759,417,000 | 759,417,000 | 708,989,000 | |||||
Financing receivable, modifications, number of contracts | loan | 1 | 1 | ||||||
Commercial and Industrial | PPP loans, net of deferred processing fees | ||||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||||||
Allowance for credit loss | 0 | 0 | 0 | |||||
Loans receivable | 2,300,000 | 2,300,000 | 45,200,000 | |||||
Commercial and Industrial | Syndicated loans | ||||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||||||
Loans receivable | $ 153,200,000 | $ 153,200,000 | $ 125,800,000 |
LOANS RECEIVABLE AND ALLOWANC_5
LOANS RECEIVABLE AND ALLOWANCE FOR CREDIT LOSSES - Allowance for Loan Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning Allowance | $ 38,117 | $ 35,555 | $ 37,588 | $ 34,340 |
(Charge-offs) | (580) | (715) | (1,286) | (1,773) |
Recoveries | 101 | 101 | 279 | 252 |
PROVISION FOR CREDIT LOSS EXPENSE | 2,905 | 1,967 | 3,962 | 4,089 |
Ending Allowance | 40,543 | 36,908 | 40,543 | 36,908 |
Farmland | ||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning Allowance | 186 | 224 | 151 | 221 |
(Charge-offs) | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
PROVISION FOR CREDIT LOSS EXPENSE | 5 | (100) | 40 | (97) |
Ending Allowance | 191 | 124 | 191 | 124 |
Owner-occupied, nonfarm nonresidential properties | ||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning Allowance | 3,595 | 2,935 | 3,339 | 3,700 |
(Charge-offs) | 0 | 0 | (21) | (531) |
Recoveries | 2 | 3 | 9 | 5 |
PROVISION FOR CREDIT LOSS EXPENSE | 117 | (58) | 387 | (294) |
Ending Allowance | 3,714 | 2,880 | 3,714 | 2,880 |
Agricultural production and other loans to farmers | ||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning Allowance | 10 | 28 | 9 | 24 |
(Charge-offs) | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
PROVISION FOR CREDIT LOSS EXPENSE | (3) | (16) | (2) | (12) |
Ending Allowance | 7 | 12 | 7 | 12 |
Commercial and Industrial | ||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning Allowance | 9,090 | 6,479 | 8,837 | 6,233 |
(Charge-offs) | (14) | (14) | (85) | (70) |
Recoveries | 13 | 15 | 91 | 20 |
PROVISION FOR CREDIT LOSS EXPENSE | 466 | 832 | 712 | 1,129 |
Ending Allowance | 9,555 | 7,312 | 9,555 | 7,312 |
Obligations (other than securities and leases) of states and political subdivisions | ||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning Allowance | 1,828 | 1,715 | 1,649 | 998 |
(Charge-offs) | 0 | (250) | 0 | (250) |
Recoveries | 0 | 0 | 0 | 0 |
PROVISION FOR CREDIT LOSS EXPENSE | (163) | 860 | 16 | 1,577 |
Ending Allowance | 1,665 | 2,325 | 1,665 | 2,325 |
Other loans | ||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning Allowance | 143 | 73 | 149 | 68 |
(Charge-offs) | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
PROVISION FOR CREDIT LOSS EXPENSE | 24 | 44 | 18 | 49 |
Ending Allowance | 167 | 117 | 167 | 117 |
Other construction loans and all land development and other land loans | ||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning Allowance | 2,050 | 2,006 | 2,198 | 1,956 |
(Charge-offs) | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
PROVISION FOR CREDIT LOSS EXPENSE | 278 | 358 | 130 | 408 |
Ending Allowance | 2,328 | 2,364 | 2,328 | 2,364 |
Multifamily (5 or more) residential properties | ||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning Allowance | 2,236 | 2,754 | 2,289 | 2,724 |
(Charge-offs) | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
PROVISION FOR CREDIT LOSS EXPENSE | 41 | (440) | (12) | (410) |
Ending Allowance | 2,277 | 2,314 | 2,277 | 2,314 |
Non-owner occupied, nonfarm nonresidential properties | ||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning Allowance | 6,411 | 11,326 | 6,481 | 8,658 |
(Charge-offs) | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
PROVISION FOR CREDIT LOSS EXPENSE | 337 | (1,164) | 267 | 1,504 |
Ending Allowance | 6,748 | 10,162 | 6,748 | 10,162 |
1-4 Family Construction | ||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning Allowance | 210 | 67 | 158 | 82 |
(Charge-offs) | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
PROVISION FOR CREDIT LOSS EXPENSE | 26 | 43 | 78 | 28 |
Ending Allowance | 236 | 110 | 236 | 110 |
Home equity lines of credit | ||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning Allowance | 1,181 | 843 | 1,169 | 985 |
(Charge-offs) | 0 | 0 | 0 | 0 |
Recoveries | 2 | 2 | 10 | 2 |
PROVISION FOR CREDIT LOSS EXPENSE | 170 | 184 | 174 | 42 |
Ending Allowance | 1,353 | 1,029 | 1,353 | 1,029 |
Residential Mortgages secured by first liens | ||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning Allowance | 6,905 | 3,550 | 6,943 | 4,539 |
(Charge-offs) | 0 | (42) | (47) | (70) |
Recoveries | 0 | 1 | 12 | 32 |
PROVISION FOR CREDIT LOSS EXPENSE | 759 | 889 | 756 | (103) |
Ending Allowance | 7,664 | 4,398 | 7,664 | 4,398 |
Residential Mortgages secured by junior liens | ||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning Allowance | 552 | 224 | 546 | 241 |
(Charge-offs) | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
PROVISION FOR CREDIT LOSS EXPENSE | 76 | 184 | 82 | 167 |
Ending Allowance | 628 | 408 | 628 | 408 |
Other revolving credit plans | ||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning Allowance | 547 | 527 | 528 | 507 |
(Charge-offs) | (19) | (17) | (45) | (23) |
Recoveries | 28 | 3 | 34 | 5 |
PROVISION FOR CREDIT LOSS EXPENSE | 42 | (54) | 81 | (30) |
Ending Allowance | 598 | 459 | 598 | 459 |
Automobile | ||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning Allowance | 254 | 182 | 263 | 132 |
(Charge-offs) | (6) | 0 | (13) | (5) |
Recoveries | 0 | 3 | 0 | 3 |
PROVISION FOR CREDIT LOSS EXPENSE | (6) | 56 | (8) | 111 |
Ending Allowance | 242 | 241 | 242 | 241 |
Other consumer | ||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning Allowance | 2,569 | 2,374 | 2,546 | 2,962 |
(Charge-offs) | (369) | (246) | (770) | (561) |
Recoveries | 19 | 47 | 41 | 95 |
PROVISION FOR CREDIT LOSS EXPENSE | 485 | 227 | 887 | (94) |
Ending Allowance | 2,704 | 2,402 | 2,704 | 2,402 |
Credit cards | ||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning Allowance | 103 | 65 | 92 | 66 |
(Charge-offs) | (45) | (39) | (59) | (72) |
Recoveries | 4 | 3 | 8 | 11 |
PROVISION FOR CREDIT LOSS EXPENSE | 48 | 39 | 69 | 63 |
Ending Allowance | 110 | 68 | 110 | 68 |
Overdrafts | ||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning Allowance | 247 | 183 | 241 | 244 |
(Charge-offs) | (127) | (107) | (246) | (191) |
Recoveries | 33 | 24 | 74 | 79 |
PROVISION FOR CREDIT LOSS EXPENSE | 203 | 83 | 287 | 51 |
Ending Allowance | $ 356 | $ 183 | $ 356 | $ 183 |
LOANS RECEIVABLE AND ALLOWANC_6
LOANS RECEIVABLE AND ALLOWANCE FOR CREDIT LOSSES - Nonaccrual Loans and Loans Receivable Past Due over 89 Days Still Accruing Interest by Class of Loans (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Financing Receivable, Past Due [Line Items] | ||
Nonaccrual | $ 18,954 | $ 19,420 |
Nonaccrual With No Allowance for Credit Loss | 11,828 | 10,593 |
Loans Receivable Past Due over 89 Days Still Accruing | 1,060 | 168 |
Farmland | ||
Financing Receivable, Past Due [Line Items] | ||
Nonaccrual | 938 | 965 |
Nonaccrual With No Allowance for Credit Loss | 938 | 965 |
Loans Receivable Past Due over 89 Days Still Accruing | 997 | 0 |
Owner-occupied, nonfarm nonresidential properties | ||
Financing Receivable, Past Due [Line Items] | ||
Nonaccrual | 1,711 | 850 |
Nonaccrual With No Allowance for Credit Loss | 1,632 | 762 |
Loans Receivable Past Due over 89 Days Still Accruing | 0 | 0 |
Commercial and Industrial | ||
Financing Receivable, Past Due [Line Items] | ||
Nonaccrual | 5,919 | 7,060 |
Nonaccrual With No Allowance for Credit Loss | 2,070 | 1,653 |
Loans Receivable Past Due over 89 Days Still Accruing | 55 | 8 |
Other construction loans and all land development and other land loans | ||
Financing Receivable, Past Due [Line Items] | ||
Nonaccrual | 71 | 516 |
Nonaccrual With No Allowance for Credit Loss | 71 | 77 |
Loans Receivable Past Due over 89 Days Still Accruing | 0 | 0 |
Multifamily (5 or more) residential properties | ||
Financing Receivable, Past Due [Line Items] | ||
Nonaccrual | 1,108 | 1,270 |
Nonaccrual With No Allowance for Credit Loss | 0 | 5 |
Loans Receivable Past Due over 89 Days Still Accruing | 0 | 0 |
Non-owner occupied, nonfarm nonresidential properties | ||
Financing Receivable, Past Due [Line Items] | ||
Nonaccrual | 3,685 | 3,771 |
Nonaccrual With No Allowance for Credit Loss | 2,058 | 2,143 |
Loans Receivable Past Due over 89 Days Still Accruing | 0 | 0 |
Home equity lines of credit | ||
Financing Receivable, Past Due [Line Items] | ||
Nonaccrual | 586 | 824 |
Nonaccrual With No Allowance for Credit Loss | 586 | 824 |
Loans Receivable Past Due over 89 Days Still Accruing | 0 | 0 |
Residential Mortgages secured by first liens | ||
Financing Receivable, Past Due [Line Items] | ||
Nonaccrual | 4,021 | 3,410 |
Nonaccrual With No Allowance for Credit Loss | 3,558 | 3,410 |
Loans Receivable Past Due over 89 Days Still Accruing | 5 | 137 |
Residential Mortgages secured by junior liens | ||
Financing Receivable, Past Due [Line Items] | ||
Nonaccrual | 200 | 147 |
Nonaccrual With No Allowance for Credit Loss | 200 | 147 |
Loans Receivable Past Due over 89 Days Still Accruing | 0 | 0 |
Other revolving credit plans | ||
Financing Receivable, Past Due [Line Items] | ||
Nonaccrual | 49 | 13 |
Nonaccrual With No Allowance for Credit Loss | 49 | 13 |
Loans Receivable Past Due over 89 Days Still Accruing | 0 | 0 |
Automobile | ||
Financing Receivable, Past Due [Line Items] | ||
Nonaccrual | 30 | 36 |
Nonaccrual With No Allowance for Credit Loss | 30 | 36 |
Loans Receivable Past Due over 89 Days Still Accruing | 0 | 0 |
Other consumer | ||
Financing Receivable, Past Due [Line Items] | ||
Nonaccrual | 636 | 558 |
Nonaccrual With No Allowance for Credit Loss | 636 | 558 |
Loans Receivable Past Due over 89 Days Still Accruing | 0 | 0 |
Credit cards | ||
Financing Receivable, Past Due [Line Items] | ||
Nonaccrual | 0 | 0 |
Nonaccrual With No Allowance for Credit Loss | 0 | 0 |
Loans Receivable Past Due over 89 Days Still Accruing | $ 3 | $ 23 |
LOANS RECEIVABLE AND ALLOWANC_7
LOANS RECEIVABLE AND ALLOWANCE FOR CREDIT LOSSES - Amortized Cost Basis of Collateral-Dependent Loans (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Real Estate Collateral | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Amortized cost basis of collateral-dependent loans | $ 7,431 | $ 8,118 |
Non-Real Estate Collateral | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Amortized cost basis of collateral-dependent loans | 2,099 | 2,360 |
Farmland | Real Estate Collateral | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Amortized cost basis of collateral-dependent loans | 895 | 920 |
Farmland | Non-Real Estate Collateral | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Amortized cost basis of collateral-dependent loans | 0 | 0 |
Owner-occupied, nonfarm nonresidential properties | Real Estate Collateral | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Amortized cost basis of collateral-dependent loans | 1,163 | 194 |
Owner-occupied, nonfarm nonresidential properties | Non-Real Estate Collateral | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Amortized cost basis of collateral-dependent loans | 9 | 9 |
Commercial and Industrial | Real Estate Collateral | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Amortized cost basis of collateral-dependent loans | 115 | 1,488 |
Commercial and Industrial | Non-Real Estate Collateral | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Amortized cost basis of collateral-dependent loans | 2,090 | 2,351 |
Other construction loans and all land development and other land loans | Real Estate Collateral | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Amortized cost basis of collateral-dependent loans | 438 | |
Other construction loans and all land development and other land loans | Non-Real Estate Collateral | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Amortized cost basis of collateral-dependent loans | 0 | |
Multifamily (5 or more) residential properties | Real Estate Collateral | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Amortized cost basis of collateral-dependent loans | 1,108 | 1,265 |
Multifamily (5 or more) residential properties | Non-Real Estate Collateral | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Amortized cost basis of collateral-dependent loans | 0 | 0 |
Non-owner occupied, nonfarm nonresidential properties | Real Estate Collateral | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Amortized cost basis of collateral-dependent loans | 3,262 | 3,378 |
Non-owner occupied, nonfarm nonresidential properties | Non-Real Estate Collateral | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Amortized cost basis of collateral-dependent loans | 0 | 0 |
Residential Mortgages secured by first liens | Real Estate Collateral | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Amortized cost basis of collateral-dependent loans | 888 | 435 |
Residential Mortgages secured by first liens | Non-Real Estate Collateral | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Amortized cost basis of collateral-dependent loans | $ 0 | $ 0 |
LOANS RECEIVABLE AND ALLOWANC_8
LOANS RECEIVABLE AND ALLOWANCE FOR CREDIT LOSSES - Aging of Recorded Investment in Past Due Loans (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | $ 3,909,753 | $ 3,634,792 |
30 - 59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 2,950 | 3,237 |
60 - 89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 1,754 | 1,450 |
Greater Than 89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 5,942 | 4,990 |
Total Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 10,646 | 9,677 |
Loans Receivable Not Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 3,899,107 | 3,625,115 |
Farmland | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 31,649 | 23,768 |
Farmland | 30 - 59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 148 | 348 |
Farmland | 60 - 89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 0 | 0 |
Farmland | Greater Than 89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 997 | 0 |
Farmland | Total Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 1,145 | 348 |
Farmland | Loans Receivable Not Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 30,504 | 23,420 |
Owner-occupied, nonfarm nonresidential properties | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 463,922 | 434,672 |
Owner-occupied, nonfarm nonresidential properties | 30 - 59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 63 | 278 |
Owner-occupied, nonfarm nonresidential properties | 60 - 89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 490 | 18 |
Owner-occupied, nonfarm nonresidential properties | Greater Than 89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 876 | 414 |
Owner-occupied, nonfarm nonresidential properties | Total Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 1,429 | 710 |
Owner-occupied, nonfarm nonresidential properties | Loans Receivable Not Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 462,493 | 433,962 |
Agricultural production and other loans to farmers | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 1,097 | 1,379 |
Agricultural production and other loans to farmers | 30 - 59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 0 | 0 |
Agricultural production and other loans to farmers | 60 - 89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 0 | 0 |
Agricultural production and other loans to farmers | Greater Than 89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 0 | 0 |
Agricultural production and other loans to farmers | Total Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 0 | 0 |
Agricultural production and other loans to farmers | Loans Receivable Not Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 1,097 | 1,379 |
Commercial and Industrial | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 759,417 | 708,989 |
Commercial and Industrial | 30 - 59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 133 | 377 |
Commercial and Industrial | 60 - 89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 181 | 13 |
Commercial and Industrial | Greater Than 89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 502 | 333 |
Commercial and Industrial | Total Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 816 | 723 |
Commercial and Industrial | Loans Receivable Not Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 758,601 | 708,266 |
Obligations (other than securities and leases) of states and political subdivisions | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 143,488 | 140,887 |
Obligations (other than securities and leases) of states and political subdivisions | 30 - 59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 0 | 0 |
Obligations (other than securities and leases) of states and political subdivisions | 60 - 89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 0 | 0 |
Obligations (other than securities and leases) of states and political subdivisions | Greater Than 89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 0 | 0 |
Obligations (other than securities and leases) of states and political subdivisions | Total Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 0 | 0 |
Obligations (other than securities and leases) of states and political subdivisions | Loans Receivable Not Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 143,488 | 140,887 |
Other loans | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 14,524 | 13,979 |
Other loans | 30 - 59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 0 | 0 |
Other loans | 60 - 89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 0 | 0 |
Other loans | Greater Than 89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 0 | 0 |
Other loans | Total Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 0 | 0 |
Other loans | Loans Receivable Not Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 14,524 | 13,979 |
Other construction loans and all land development and other land loans | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 341,399 | 298,869 |
Other construction loans and all land development and other land loans | 30 - 59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 0 | 0 |
Other construction loans and all land development and other land loans | 60 - 89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 0 | 0 |
Other construction loans and all land development and other land loans | Greater Than 89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 71 | 77 |
Other construction loans and all land development and other land loans | Total Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 71 | 77 |
Other construction loans and all land development and other land loans | Loans Receivable Not Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 341,328 | 298,792 |
Multifamily (5 or more) residential properties | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 212,561 | 216,143 |
Multifamily (5 or more) residential properties | 30 - 59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 357 | 0 |
Multifamily (5 or more) residential properties | 60 - 89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 0 | 10 |
Multifamily (5 or more) residential properties | Greater Than 89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 90 | 209 |
Multifamily (5 or more) residential properties | Total Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 447 | 219 |
Multifamily (5 or more) residential properties | Loans Receivable Not Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 212,114 | 215,924 |
Non-owner occupied, nonfarm nonresidential properties | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 734,580 | 663,062 |
Non-owner occupied, nonfarm nonresidential properties | 30 - 59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 215 | 0 |
Non-owner occupied, nonfarm nonresidential properties | 60 - 89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 0 | 0 |
Non-owner occupied, nonfarm nonresidential properties | Greater Than 89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 1,680 | 1,792 |
Non-owner occupied, nonfarm nonresidential properties | Total Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 1,895 | 1,792 |
Non-owner occupied, nonfarm nonresidential properties | Loans Receivable Not Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 732,685 | 661,270 |
1-4 Family Construction | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 40,990 | 37,822 |
1-4 Family Construction | 30 - 59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 0 | 0 |
1-4 Family Construction | 60 - 89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 0 | 0 |
1-4 Family Construction | Greater Than 89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 0 | 0 |
1-4 Family Construction | Total Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 0 | 0 |
1-4 Family Construction | Loans Receivable Not Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 40,990 | 37,822 |
Home equity lines of credit | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 115,836 | 104,517 |
Home equity lines of credit | 30 - 59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 107 | 506 |
Home equity lines of credit | 60 - 89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 344 | 50 |
Home equity lines of credit | Greater Than 89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 49 | 172 |
Home equity lines of credit | Total Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 500 | 728 |
Home equity lines of credit | Loans Receivable Not Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 115,336 | 103,789 |
Residential Mortgages secured by first liens | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 875,974 | 826,729 |
Residential Mortgages secured by first liens | 30 - 59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 1,397 | 1,286 |
Residential Mortgages secured by first liens | 60 - 89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 467 | 1,145 |
Residential Mortgages secured by first liens | Greater Than 89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 1,300 | 1,647 |
Residential Mortgages secured by first liens | Total Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 3,164 | 4,078 |
Residential Mortgages secured by first liens | Loans Receivable Not Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 872,810 | 822,651 |
Residential Mortgages secured by junior liens | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 62,212 | 56,689 |
Residential Mortgages secured by junior liens | 30 - 59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 80 | 32 |
Residential Mortgages secured by junior liens | 60 - 89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 41 | 24 |
Residential Mortgages secured by junior liens | Greater Than 89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 53 | 1 |
Residential Mortgages secured by junior liens | Total Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 174 | 57 |
Residential Mortgages secured by junior liens | Loans Receivable Not Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 62,038 | 56,632 |
Other revolving credit plans | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 28,768 | 26,536 |
Other revolving credit plans | 30 - 59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 44 | 56 |
Other revolving credit plans | 60 - 89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 9 | 17 |
Other revolving credit plans | Greater Than 89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 23 | 4 |
Other revolving credit plans | Total Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 76 | 77 |
Other revolving credit plans | Loans Receivable Not Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 28,692 | 26,459 |
Automobile | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 20,166 | 20,862 |
Automobile | 30 - 59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 43 | 45 |
Automobile | 60 - 89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 4 | 3 |
Automobile | Greater Than 89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 4 | 23 |
Automobile | Total Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 51 | 71 |
Automobile | Loans Receivable Not Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 20,115 | 20,791 |
Other consumer | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 51,765 | 49,676 |
Other consumer | 30 - 59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 288 | 283 |
Other consumer | 60 - 89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 205 | 158 |
Other consumer | Greater Than 89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 294 | 295 |
Other consumer | Total Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 787 | 736 |
Other consumer | Loans Receivable Not Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 50,978 | 48,940 |
Credit cards | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 11,049 | 9,935 |
Credit cards | 30 - 59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 75 | 26 |
Credit cards | 60 - 89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 13 | 12 |
Credit cards | Greater Than 89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 3 | 23 |
Credit cards | Total Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 91 | 61 |
Credit cards | Loans Receivable Not Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 10,958 | 9,874 |
Overdrafts | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 356 | 278 |
Overdrafts | 30 - 59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 0 | 0 |
Overdrafts | 60 - 89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 0 | 0 |
Overdrafts | Greater Than 89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 0 | 0 |
Overdrafts | Total Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | 0 | 0 |
Overdrafts | Loans Receivable Not Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans receivable | $ 356 | $ 278 |
LOANS RECEIVABLE AND ALLOWANC_9
LOANS RECEIVABLE AND ALLOWANCE FOR CREDIT LOSSES - Restructured in Troubled Debt (Details) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 loan | Jun. 30, 2021 USD ($) loan | Jun. 30, 2022 USD ($) loan | Jun. 30, 2021 USD ($) loan | |
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Number of Loans | loan | 0 | 1 | 1 | 3 |
Pre-Modification Outstanding Recorded Investment | $ 578 | $ 1,784 | $ 2,899 | |
Post-Modification Outstanding Recorded Investment | $ 578 | $ 1,784 | $ 2,899 | |
Commercial and Industrial | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Number of Loans | loan | 1 | 1 | ||
Pre-Modification Outstanding Recorded Investment | $ 578 | $ 578 | ||
Post-Modification Outstanding Recorded Investment | $ 578 | $ 578 | ||
Multifamily (5 or more) residential properties | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Number of Loans | loan | 1 | |||
Pre-Modification Outstanding Recorded Investment | $ 717 | |||
Post-Modification Outstanding Recorded Investment | $ 717 | |||
Non-owner occupied, nonfarm nonresidential properties | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Number of Loans | loan | 1 | 1 | ||
Pre-Modification Outstanding Recorded Investment | $ 1,784 | $ 1,604 | ||
Post-Modification Outstanding Recorded Investment | $ 1,784 | $ 1,604 |
LOANS RECEIVABLE AND ALLOWAN_10
LOANS RECEIVABLE AND ALLOWANCE FOR CREDIT LOSSES - Schedule of Credit Risk Profile By Risk Rating (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | $ 3,909,753 | $ 3,634,792 |
Pass | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 2,634,150 | 2,424,318 |
Special Mention | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 22,698 | 30,132 |
Substandard | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 44,433 | 45,919 |
Doubtful | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 1,356 | 1,379 |
Total Non-Pass | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 68,487 | 77,430 |
Total | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 2,702,637 | 2,501,748 |
Farmland | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 31,649 | 23,768 |
Farmland | Pass | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 29,261 | 21,286 |
Farmland | Special Mention | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 1,450 | 1,514 |
Farmland | Substandard | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 938 | 968 |
Farmland | Doubtful | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 0 | 0 |
Farmland | Total Non-Pass | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 2,388 | 2,482 |
Farmland | Total | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 31,649 | 23,768 |
Owner-occupied, nonfarm nonresidential properties | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 463,922 | 434,672 |
Owner-occupied, nonfarm nonresidential properties | Pass | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 449,366 | 419,368 |
Owner-occupied, nonfarm nonresidential properties | Special Mention | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 6,406 | 6,723 |
Owner-occupied, nonfarm nonresidential properties | Substandard | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 8,150 | 8,581 |
Owner-occupied, nonfarm nonresidential properties | Doubtful | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 0 | 0 |
Owner-occupied, nonfarm nonresidential properties | Total Non-Pass | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 14,556 | 15,304 |
Owner-occupied, nonfarm nonresidential properties | Total | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 463,922 | 434,672 |
Agricultural production and other loans to farmers | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 1,097 | 1,379 |
Agricultural production and other loans to farmers | Pass | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 1,097 | 1,379 |
Agricultural production and other loans to farmers | Special Mention | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 0 | 0 |
Agricultural production and other loans to farmers | Substandard | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 0 | 0 |
Agricultural production and other loans to farmers | Doubtful | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 0 | 0 |
Agricultural production and other loans to farmers | Total Non-Pass | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 0 | 0 |
Agricultural production and other loans to farmers | Total | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 1,097 | 1,379 |
Commercial and Industrial | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 759,417 | 708,989 |
Commercial and Industrial | Pass | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 740,370 | 687,010 |
Commercial and Industrial | Special Mention | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 6,554 | 7,946 |
Commercial and Industrial | Substandard | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 11,137 | 12,654 |
Commercial and Industrial | Doubtful | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 1,356 | 1,379 |
Commercial and Industrial | Total Non-Pass | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 19,047 | 21,979 |
Commercial and Industrial | Total | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 759,417 | 708,989 |
Obligations (other than securities and leases) of states and political subdivisions | Pass | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 140,887 | |
Obligations (other than securities and leases) of states and political subdivisions | Special Mention | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 0 | |
Obligations (other than securities and leases) of states and political subdivisions | Substandard | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 0 | |
Obligations (other than securities and leases) of states and political subdivisions | Doubtful | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 0 | |
Obligations (other than securities and leases) of states and political subdivisions | Total Non-Pass | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 0 | 0 |
Obligations (other than securities and leases) of states and political subdivisions | Total | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 143,488 | 140,887 |
Other loans | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 14,524 | 13,979 |
Other loans | Pass | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 14,524 | 13,979 |
Other loans | Special Mention | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 0 | 0 |
Other loans | Substandard | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 0 | 0 |
Other loans | Doubtful | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 0 | 0 |
Other loans | Total Non-Pass | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 0 | 0 |
Other loans | Total | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 14,524 | 13,979 |
Other construction loans and all land development and other land loans | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 341,399 | 298,869 |
Other construction loans and all land development and other land loans | Pass | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 339,750 | 294,103 |
Other construction loans and all land development and other land loans | Special Mention | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 1,578 | 4,221 |
Other construction loans and all land development and other land loans | Substandard | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 71 | 545 |
Other construction loans and all land development and other land loans | Doubtful | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 0 | 0 |
Other construction loans and all land development and other land loans | Total Non-Pass | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 1,649 | 4,766 |
Other construction loans and all land development and other land loans | Total | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 341,399 | 298,869 |
Multifamily (5 or more) residential properties | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 212,561 | 216,143 |
Multifamily (5 or more) residential properties | Pass | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 211,353 | 214,772 |
Multifamily (5 or more) residential properties | Special Mention | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 100 | 100 |
Multifamily (5 or more) residential properties | Substandard | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 1,108 | 1,271 |
Multifamily (5 or more) residential properties | Doubtful | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 0 | 0 |
Multifamily (5 or more) residential properties | Total Non-Pass | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 1,208 | 1,371 |
Multifamily (5 or more) residential properties | Total | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 212,561 | 216,143 |
Non-owner occupied, nonfarm nonresidential properties | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 734,580 | 663,062 |
Non-owner occupied, nonfarm nonresidential properties | Pass | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 704,941 | 631,534 |
Non-owner occupied, nonfarm nonresidential properties | Special Mention | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 6,610 | 9,628 |
Non-owner occupied, nonfarm nonresidential properties | Substandard | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 23,029 | 21,900 |
Non-owner occupied, nonfarm nonresidential properties | Doubtful | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 0 | 0 |
Non-owner occupied, nonfarm nonresidential properties | Total Non-Pass | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 29,639 | 31,528 |
Non-owner occupied, nonfarm nonresidential properties | Total | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 734,580 | 663,062 |
Obligations (other than securities and leases) of states and political subdivisions | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 143,488 | 140,887 |
Obligations (other than securities and leases) of states and political subdivisions | Pass | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 143,488 | 140,887 |
Obligations (other than securities and leases) of states and political subdivisions | Special Mention | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 0 | 0 |
Obligations (other than securities and leases) of states and political subdivisions | Substandard | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 0 | 0 |
Obligations (other than securities and leases) of states and political subdivisions | Doubtful | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | $ 0 | $ 0 |
LOANS RECEIVABLE AND ALLOWAN_11
LOANS RECEIVABLE AND ALLOWANCE FOR CREDIT LOSSES - Risk Rating (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Total | $ 3,909,753 | $ 3,634,792 |
Pass | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Total | 2,634,150 | 2,424,318 |
Special mention | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Total | 22,698 | 30,132 |
Substandard | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Total | 44,433 | 45,919 |
Doubtful | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Total | 1,356 | 1,379 |
Farmland | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Current fiscal year | 8,911 | 8,591 |
One fiscal year before current year | 8,170 | 1,690 |
Two fiscal years before current year | 1,610 | 3,276 |
Three fiscal years before current year | 3,149 | 3,547 |
Four fiscal years before current year | 3,497 | 1,006 |
More than four fiscal years before current year | 5,892 | 5,197 |
Revolving Loans Amortized Cost Basis | 420 | 461 |
Revolving Loans Converted to Term | 0 | 0 |
Total | 31,649 | 23,768 |
Farmland | Pass | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Current fiscal year | 8,911 | 8,203 |
One fiscal year before current year | 7,782 | 1,690 |
Two fiscal years before current year | 1,610 | 3,276 |
Three fiscal years before current year | 3,149 | 3,547 |
Four fiscal years before current year | 3,497 | 564 |
More than four fiscal years before current year | 3,892 | 3,545 |
Revolving Loans Amortized Cost Basis | 420 | 461 |
Revolving Loans Converted to Term | 0 | 0 |
Total | 29,261 | 21,286 |
Farmland | Special mention | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Current fiscal year | 0 | 0 |
One fiscal year before current year | 0 | 0 |
Two fiscal years before current year | 0 | 0 |
Three fiscal years before current year | 0 | 0 |
Four fiscal years before current year | 0 | 394 |
More than four fiscal years before current year | 1,450 | 1,120 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term | 0 | 0 |
Total | 1,450 | 1,514 |
Farmland | Substandard | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Current fiscal year | 0 | 388 |
One fiscal year before current year | 388 | 0 |
Two fiscal years before current year | 0 | 0 |
Three fiscal years before current year | 0 | 0 |
Four fiscal years before current year | 0 | 48 |
More than four fiscal years before current year | 550 | 532 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term | 0 | 0 |
Total | 938 | 968 |
Farmland | Doubtful | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Current fiscal year | 0 | 0 |
One fiscal year before current year | 0 | 0 |
Two fiscal years before current year | 0 | 0 |
Three fiscal years before current year | 0 | 0 |
Four fiscal years before current year | 0 | 0 |
More than four fiscal years before current year | 0 | 0 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term | 0 | 0 |
Total | 0 | 0 |
Owner-occupied, nonfarm nonresidential properties | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Current fiscal year | 67,952 | 136,025 |
One fiscal year before current year | 117,059 | 78,484 |
Two fiscal years before current year | 75,236 | 81,714 |
Three fiscal years before current year | 75,348 | 34,255 |
Four fiscal years before current year | 31,647 | 41,062 |
More than four fiscal years before current year | 77,052 | 55,376 |
Revolving Loans Amortized Cost Basis | 19,628 | 7,756 |
Revolving Loans Converted to Term | 0 | 0 |
Total | 463,922 | 434,672 |
Owner-occupied, nonfarm nonresidential properties | Pass | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Current fiscal year | 67,952 | 135,095 |
One fiscal year before current year | 116,666 | 78,068 |
Two fiscal years before current year | 74,850 | 78,621 |
Three fiscal years before current year | 72,416 | 29,100 |
Four fiscal years before current year | 26,633 | 40,677 |
More than four fiscal years before current year | 71,231 | 50,079 |
Revolving Loans Amortized Cost Basis | 19,618 | 7,728 |
Revolving Loans Converted to Term | 0 | 0 |
Total | 449,366 | 419,368 |
Owner-occupied, nonfarm nonresidential properties | Special mention | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Current fiscal year | 0 | 243 |
One fiscal year before current year | 237 | 0 |
Two fiscal years before current year | 0 | 903 |
Three fiscal years before current year | 888 | 4,287 |
Four fiscal years before current year | 4,193 | 135 |
More than four fiscal years before current year | 1,078 | 1,145 |
Revolving Loans Amortized Cost Basis | 10 | 10 |
Revolving Loans Converted to Term | 0 | 0 |
Total | 6,406 | 6,723 |
Owner-occupied, nonfarm nonresidential properties | Substandard | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Current fiscal year | 0 | 687 |
One fiscal year before current year | 156 | 416 |
Two fiscal years before current year | 386 | 2,190 |
Three fiscal years before current year | 2,044 | 868 |
Four fiscal years before current year | 821 | 250 |
More than four fiscal years before current year | 4,743 | 4,152 |
Revolving Loans Amortized Cost Basis | 0 | 18 |
Revolving Loans Converted to Term | 0 | 0 |
Total | 8,150 | 8,581 |
Owner-occupied, nonfarm nonresidential properties | Doubtful | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Current fiscal year | 0 | 0 |
One fiscal year before current year | 0 | 0 |
Two fiscal years before current year | 0 | 0 |
Three fiscal years before current year | 0 | 0 |
Four fiscal years before current year | 0 | 0 |
More than four fiscal years before current year | 0 | 0 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term | 0 | 0 |
Total | 0 | 0 |
Agricultural production and other loans to farmers | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Current fiscal year | 129 | 211 |
One fiscal year before current year | 151 | 103 |
Two fiscal years before current year | 91 | 76 |
Three fiscal years before current year | 70 | 198 |
Four fiscal years before current year | 192 | 0 |
More than four fiscal years before current year | 0 | 0 |
Revolving Loans Amortized Cost Basis | 464 | 791 |
Revolving Loans Converted to Term | 0 | 0 |
Total | 1,097 | 1,379 |
Agricultural production and other loans to farmers | Pass | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Current fiscal year | 129 | 211 |
One fiscal year before current year | 151 | 103 |
Two fiscal years before current year | 91 | 76 |
Three fiscal years before current year | 70 | 198 |
Four fiscal years before current year | 192 | 0 |
More than four fiscal years before current year | 0 | 0 |
Revolving Loans Amortized Cost Basis | 464 | 791 |
Revolving Loans Converted to Term | 0 | 0 |
Total | 1,097 | 1,379 |
Agricultural production and other loans to farmers | Special mention | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Current fiscal year | 0 | 0 |
One fiscal year before current year | 0 | 0 |
Two fiscal years before current year | 0 | 0 |
Three fiscal years before current year | 0 | 0 |
Four fiscal years before current year | 0 | 0 |
More than four fiscal years before current year | 0 | 0 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term | 0 | 0 |
Total | 0 | 0 |
Agricultural production and other loans to farmers | Substandard | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Current fiscal year | 0 | 0 |
One fiscal year before current year | 0 | 0 |
Two fiscal years before current year | 0 | 0 |
Three fiscal years before current year | 0 | 0 |
Four fiscal years before current year | 0 | 0 |
More than four fiscal years before current year | 0 | 0 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term | 0 | 0 |
Total | 0 | 0 |
Agricultural production and other loans to farmers | Doubtful | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Current fiscal year | 0 | 0 |
One fiscal year before current year | 0 | 0 |
Two fiscal years before current year | 0 | 0 |
Three fiscal years before current year | 0 | 0 |
Four fiscal years before current year | 0 | 0 |
More than four fiscal years before current year | 0 | 0 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term | 0 | 0 |
Total | 0 | 0 |
Commercial and Industrial | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Current fiscal year | 117,219 | 317,353 |
One fiscal year before current year | 240,627 | 85,978 |
Two fiscal years before current year | 76,518 | 34,030 |
Three fiscal years before current year | 22,193 | 17,410 |
Four fiscal years before current year | 11,708 | 12,500 |
More than four fiscal years before current year | 22,802 | 9,637 |
Revolving Loans Amortized Cost Basis | 268,350 | 232,081 |
Revolving Loans Converted to Term | 0 | 0 |
Total | 759,417 | 708,989 |
Commercial and Industrial | Pass | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Current fiscal year | 117,219 | 313,983 |
One fiscal year before current year | 236,523 | 84,815 |
Two fiscal years before current year | 75,375 | 31,375 |
Three fiscal years before current year | 21,326 | 16,577 |
Four fiscal years before current year | 11,010 | 12,389 |
More than four fiscal years before current year | 21,573 | 6,777 |
Revolving Loans Amortized Cost Basis | 257,344 | 221,094 |
Revolving Loans Converted to Term | 0 | 0 |
Total | 740,370 | 687,010 |
Commercial and Industrial | Special mention | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Current fiscal year | 0 | 0 |
One fiscal year before current year | 0 | 363 |
Two fiscal years before current year | 159 | 793 |
Three fiscal years before current year | 431 | 381 |
Four fiscal years before current year | 340 | 82 |
More than four fiscal years before current year | 183 | 844 |
Revolving Loans Amortized Cost Basis | 5,441 | 5,483 |
Revolving Loans Converted to Term | 0 | 0 |
Total | 6,554 | 7,946 |
Commercial and Industrial | Substandard | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Current fiscal year | 0 | 1,991 |
One fiscal year before current year | 2,748 | 800 |
Two fiscal years before current year | 984 | 1,862 |
Three fiscal years before current year | 436 | 452 |
Four fiscal years before current year | 358 | 29 |
More than four fiscal years before current year | 1,046 | 2,016 |
Revolving Loans Amortized Cost Basis | 5,565 | 5,504 |
Revolving Loans Converted to Term | 0 | 0 |
Total | 11,137 | 12,654 |
Commercial and Industrial | Doubtful | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Current fiscal year | 0 | 1,379 |
One fiscal year before current year | 1,356 | 0 |
Two fiscal years before current year | 0 | 0 |
Three fiscal years before current year | 0 | 0 |
Four fiscal years before current year | 0 | 0 |
More than four fiscal years before current year | 0 | 0 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term | 0 | 0 |
Total | 1,356 | 1,379 |
Obligations (other than securities and leases) of states and political subdivisions | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Current fiscal year | 11,108 | 36,853 |
One fiscal year before current year | 37,217 | 16,688 |
Two fiscal years before current year | 16,428 | 8,774 |
Three fiscal years before current year | 4,748 | 16,957 |
Four fiscal years before current year | 13,747 | 20,071 |
More than four fiscal years before current year | 55,509 | 36,764 |
Revolving Loans Amortized Cost Basis | 4,731 | 4,780 |
Revolving Loans Converted to Term | 0 | 0 |
Total | 143,488 | 140,887 |
Obligations (other than securities and leases) of states and political subdivisions | Pass | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Current fiscal year | 11,108 | 36,853 |
One fiscal year before current year | 37,217 | 16,688 |
Two fiscal years before current year | 16,428 | 8,774 |
Three fiscal years before current year | 4,748 | 16,957 |
Four fiscal years before current year | 13,747 | 20,071 |
More than four fiscal years before current year | 55,509 | 36,764 |
Revolving Loans Amortized Cost Basis | 4,731 | 4,780 |
Revolving Loans Converted to Term | 0 | 0 |
Total | 143,488 | 140,887 |
Obligations (other than securities and leases) of states and political subdivisions | Special mention | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Current fiscal year | 0 | 0 |
One fiscal year before current year | 0 | 0 |
Two fiscal years before current year | 0 | 0 |
Three fiscal years before current year | 0 | 0 |
Four fiscal years before current year | 0 | 0 |
More than four fiscal years before current year | 0 | 0 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term | 0 | 0 |
Total | 0 | 0 |
Obligations (other than securities and leases) of states and political subdivisions | Substandard | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Current fiscal year | 0 | 0 |
One fiscal year before current year | 0 | 0 |
Two fiscal years before current year | 0 | 0 |
Three fiscal years before current year | 0 | 0 |
Four fiscal years before current year | 0 | 0 |
More than four fiscal years before current year | 0 | 0 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term | 0 | 0 |
Total | 0 | 0 |
Obligations (other than securities and leases) of states and political subdivisions | Doubtful | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Current fiscal year | 0 | 0 |
One fiscal year before current year | 0 | 0 |
Two fiscal years before current year | 0 | 0 |
Three fiscal years before current year | 0 | 0 |
Four fiscal years before current year | 0 | 0 |
More than four fiscal years before current year | 0 | 0 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term | 0 | 0 |
Total | 0 | 0 |
Other loans | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Current fiscal year | 2,160 | 5,851 |
One fiscal year before current year | 5,484 | 5,305 |
Two fiscal years before current year | 2,505 | 552 |
Three fiscal years before current year | 400 | 3 |
Four fiscal years before current year | 0 | 0 |
More than four fiscal years before current year | 0 | 0 |
Revolving Loans Amortized Cost Basis | 3,975 | 2,268 |
Revolving Loans Converted to Term | 0 | 0 |
Total | 14,524 | 13,979 |
Other loans | Pass | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Current fiscal year | 2,160 | 5,851 |
One fiscal year before current year | 5,484 | 5,305 |
Two fiscal years before current year | 2,505 | 552 |
Three fiscal years before current year | 400 | 3 |
Four fiscal years before current year | 0 | 0 |
More than four fiscal years before current year | 0 | 0 |
Revolving Loans Amortized Cost Basis | 3,975 | 2,268 |
Revolving Loans Converted to Term | 0 | 0 |
Total | 14,524 | 13,979 |
Other loans | Special mention | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Current fiscal year | 0 | 0 |
One fiscal year before current year | 0 | 0 |
Two fiscal years before current year | 0 | 0 |
Three fiscal years before current year | 0 | 0 |
Four fiscal years before current year | 0 | 0 |
More than four fiscal years before current year | 0 | 0 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term | 0 | 0 |
Total | 0 | 0 |
Other loans | Substandard | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Current fiscal year | 0 | 0 |
One fiscal year before current year | 0 | 0 |
Two fiscal years before current year | 0 | 0 |
Three fiscal years before current year | 0 | 0 |
Four fiscal years before current year | 0 | 0 |
More than four fiscal years before current year | 0 | 0 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term | 0 | 0 |
Total | 0 | 0 |
Other loans | Doubtful | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Current fiscal year | 0 | 0 |
One fiscal year before current year | 0 | 0 |
Two fiscal years before current year | 0 | 0 |
Three fiscal years before current year | 0 | 0 |
Four fiscal years before current year | 0 | 0 |
More than four fiscal years before current year | 0 | 0 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term | 0 | 0 |
Total | 0 | 0 |
Other construction loans and all land development and other land loans | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Current fiscal year | 107,639 | 99,906 |
One fiscal year before current year | 98,191 | 168,372 |
Two fiscal years before current year | 108,607 | 9,402 |
Three fiscal years before current year | 7,465 | 11,170 |
Four fiscal years before current year | 9,137 | 3,363 |
More than four fiscal years before current year | 2,063 | 898 |
Revolving Loans Amortized Cost Basis | 8,297 | 5,758 |
Revolving Loans Converted to Term | 0 | 0 |
Total | 341,399 | 298,869 |
Other construction loans and all land development and other land loans | Pass | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Current fiscal year | 107,639 | 98,406 |
One fiscal year before current year | 96,680 | 168,372 |
Two fiscal years before current year | 108,607 | 8,752 |
Three fiscal years before current year | 7,398 | 11,141 |
Four fiscal years before current year | 9,137 | 853 |
More than four fiscal years before current year | 2,063 | 898 |
Revolving Loans Amortized Cost Basis | 8,226 | 5,681 |
Revolving Loans Converted to Term | 0 | 0 |
Total | 339,750 | 294,103 |
Other construction loans and all land development and other land loans | Special mention | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Current fiscal year | 0 | 1,500 |
One fiscal year before current year | 1,511 | 0 |
Two fiscal years before current year | 0 | 650 |
Three fiscal years before current year | 67 | 0 |
Four fiscal years before current year | 0 | 2,071 |
More than four fiscal years before current year | 0 | 0 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term | 0 | 0 |
Total | 1,578 | 4,221 |
Other construction loans and all land development and other land loans | Substandard | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Current fiscal year | 0 | 0 |
One fiscal year before current year | 0 | 0 |
Two fiscal years before current year | 0 | 0 |
Three fiscal years before current year | 0 | 29 |
Four fiscal years before current year | 0 | 439 |
More than four fiscal years before current year | 0 | 0 |
Revolving Loans Amortized Cost Basis | 71 | 77 |
Revolving Loans Converted to Term | 0 | 0 |
Total | 71 | 545 |
Other construction loans and all land development and other land loans | Doubtful | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Current fiscal year | 0 | 0 |
One fiscal year before current year | 0 | 0 |
Two fiscal years before current year | 0 | 0 |
Three fiscal years before current year | 0 | 0 |
Four fiscal years before current year | 0 | 0 |
More than four fiscal years before current year | 0 | 0 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term | 0 | 0 |
Total | 0 | 0 |
Multifamily (5 or more) residential properties | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Current fiscal year | 38,463 | 74,687 |
One fiscal year before current year | 53,374 | 55,669 |
Two fiscal years before current year | 54,210 | 34,118 |
Three fiscal years before current year | 30,553 | 8,316 |
Four fiscal years before current year | 6,980 | 27,933 |
More than four fiscal years before current year | 26,425 | 12,982 |
Revolving Loans Amortized Cost Basis | 2,556 | 2,438 |
Revolving Loans Converted to Term | 0 | 0 |
Total | 212,561 | 216,143 |
Multifamily (5 or more) residential properties | Pass | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Current fiscal year | 38,463 | 74,687 |
One fiscal year before current year | 53,374 | 55,663 |
Two fiscal years before current year | 54,210 | 33,436 |
Three fiscal years before current year | 29,892 | 7,937 |
Four fiscal years before current year | 6,623 | 27,729 |
More than four fiscal years before current year | 26,335 | 12,882 |
Revolving Loans Amortized Cost Basis | 2,456 | 2,438 |
Revolving Loans Converted to Term | 0 | 0 |
Total | 211,353 | 214,772 |
Multifamily (5 or more) residential properties | Special mention | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Current fiscal year | 0 | 0 |
One fiscal year before current year | 0 | 0 |
Two fiscal years before current year | 0 | 0 |
Three fiscal years before current year | 0 | 0 |
Four fiscal years before current year | 0 | 0 |
More than four fiscal years before current year | 0 | 100 |
Revolving Loans Amortized Cost Basis | 100 | 0 |
Revolving Loans Converted to Term | 0 | 0 |
Total | 100 | 100 |
Multifamily (5 or more) residential properties | Substandard | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Current fiscal year | 0 | 0 |
One fiscal year before current year | 0 | 6 |
Two fiscal years before current year | 0 | 682 |
Three fiscal years before current year | 661 | 379 |
Four fiscal years before current year | 357 | 204 |
More than four fiscal years before current year | 90 | 0 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term | 0 | 0 |
Total | 1,108 | 1,271 |
Multifamily (5 or more) residential properties | Doubtful | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Current fiscal year | 0 | 0 |
One fiscal year before current year | 0 | 0 |
Two fiscal years before current year | 0 | 0 |
Three fiscal years before current year | 0 | 0 |
Four fiscal years before current year | 0 | 0 |
More than four fiscal years before current year | 0 | 0 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term | 0 | 0 |
Total | 0 | 0 |
Non-owner occupied, nonfarm nonresidential properties | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Current fiscal year | 207,920 | 195,626 |
One fiscal year before current year | 165,350 | 125,039 |
Two fiscal years before current year | 62,917 | 87,676 |
Three fiscal years before current year | 84,340 | 54,899 |
Four fiscal years before current year | 50,363 | 47,541 |
More than four fiscal years before current year | 152,817 | 140,711 |
Revolving Loans Amortized Cost Basis | 10,873 | 11,570 |
Revolving Loans Converted to Term | 0 | 0 |
Total | 734,580 | 663,062 |
Non-owner occupied, nonfarm nonresidential properties | Pass | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Current fiscal year | 207,920 | 194,800 |
One fiscal year before current year | 164,540 | 125,039 |
Two fiscal years before current year | 62,917 | 84,943 |
Three fiscal years before current year | 81,646 | 52,233 |
Four fiscal years before current year | 48,194 | 42,714 |
More than four fiscal years before current year | 131,397 | 123,021 |
Revolving Loans Amortized Cost Basis | 8,327 | 8,784 |
Revolving Loans Converted to Term | 0 | 0 |
Total | 704,941 | 631,534 |
Non-owner occupied, nonfarm nonresidential properties | Special mention | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Current fiscal year | 0 | 0 |
One fiscal year before current year | 0 | 0 |
Two fiscal years before current year | 0 | 428 |
Three fiscal years before current year | 417 | 1,004 |
Four fiscal years before current year | 518 | 189 |
More than four fiscal years before current year | 5,224 | 5,556 |
Revolving Loans Amortized Cost Basis | 451 | 2,451 |
Revolving Loans Converted to Term | 0 | 0 |
Total | 6,610 | 9,628 |
Non-owner occupied, nonfarm nonresidential properties | Substandard | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Current fiscal year | 0 | 826 |
One fiscal year before current year | 810 | 0 |
Two fiscal years before current year | 0 | 2,305 |
Three fiscal years before current year | 2,277 | 1,662 |
Four fiscal years before current year | 1,651 | 4,638 |
More than four fiscal years before current year | 16,196 | 12,134 |
Revolving Loans Amortized Cost Basis | 2,095 | 335 |
Revolving Loans Converted to Term | 0 | 0 |
Total | 23,029 | 21,900 |
Non-owner occupied, nonfarm nonresidential properties | Doubtful | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Current fiscal year | 0 | 0 |
One fiscal year before current year | 0 | 0 |
Two fiscal years before current year | 0 | 0 |
Three fiscal years before current year | 0 | 0 |
Four fiscal years before current year | 0 | 0 |
More than four fiscal years before current year | 0 | 0 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term | 0 | 0 |
Total | $ 0 | $ 0 |
LOANS RECEIVABLE AND ALLOWAN_12
LOANS RECEIVABLE AND ALLOWANCE FOR CREDIT LOSSES - Recorded Investment in Residential, Consumer and Credit Card Loans Based on Payment Activity (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Net loans receivable | $ 3,869,210 | $ 3,597,204 |
Loans receivable | 3,909,753 | 3,634,792 |
1-4 Family Construction | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 40,990 | 37,822 |
Home equity lines of credit | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 115,836 | 104,517 |
Residential Mortgages secured by first liens | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 875,974 | 826,729 |
Residential Mortgages secured by junior liens | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 62,212 | 56,689 |
Other revolving credit plans | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 28,768 | 26,536 |
Automobile | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 20,166 | 20,862 |
Other consumer | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 51,765 | 49,676 |
Performing | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Net loans receivable | 1,190,184 | 1,117,706 |
Loans receivable | 1,190,184 | 1,117,706 |
Performing | 1-4 Family Construction | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Net loans receivable | 37,822 | |
Loans receivable | 40,990 | 37,822 |
Performing | Home equity lines of credit | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Net loans receivable | 103,693 | |
Loans receivable | 115,250 | 103,693 |
Performing | Residential Mortgages secured by first liens | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Net loans receivable | 823,182 | |
Loans receivable | 871,948 | 823,182 |
Performing | Residential Mortgages secured by junior liens | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Net loans receivable | 56,542 | |
Loans receivable | 62,012 | 56,542 |
Performing | Other revolving credit plans | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Net loans receivable | 26,523 | |
Loans receivable | 28,719 | 26,523 |
Performing | Automobile | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Net loans receivable | 20,826 | |
Loans receivable | 20,136 | 20,826 |
Performing | Other consumer | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Net loans receivable | 49,118 | |
Loans receivable | 51,129 | 49,118 |
Nonperforming | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Net loans receivable | 5,527 | 5,125 |
Loans receivable | 5,527 | 5,125 |
Nonperforming | 1-4 Family Construction | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Net loans receivable | 0 | |
Loans receivable | 0 | 0 |
Nonperforming | Home equity lines of credit | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Net loans receivable | 824 | |
Loans receivable | 586 | 824 |
Nonperforming | Residential Mortgages secured by first liens | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Net loans receivable | 3,547 | |
Loans receivable | 4,026 | 3,547 |
Nonperforming | Residential Mortgages secured by junior liens | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Net loans receivable | 147 | |
Loans receivable | 200 | 147 |
Nonperforming | Other revolving credit plans | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Net loans receivable | 13 | |
Loans receivable | 49 | 13 |
Nonperforming | Automobile | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Net loans receivable | 36 | |
Loans receivable | 30 | 36 |
Nonperforming | Other consumer | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Net loans receivable | 558 | |
Loans receivable | 636 | 558 |
Total | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Net loans receivable | 1,195,711 | 1,122,831 |
Loans receivable | 1,195,711 | 1,122,831 |
Total | 1-4 Family Construction | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Net loans receivable | 40,990 | 37,822 |
Loans receivable | 40,990 | 37,822 |
Total | Home equity lines of credit | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Net loans receivable | 115,836 | 104,517 |
Loans receivable | 115,836 | 104,517 |
Total | Residential Mortgages secured by first liens | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Net loans receivable | 875,974 | 826,729 |
Loans receivable | 875,974 | 826,729 |
Total | Residential Mortgages secured by junior liens | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Net loans receivable | 62,212 | 56,689 |
Loans receivable | 62,212 | 56,689 |
Total | Other revolving credit plans | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Net loans receivable | 28,768 | 26,536 |
Loans receivable | 28,768 | 26,536 |
Total | Automobile | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Net loans receivable | 20,166 | 20,862 |
Loans receivable | 20,166 | 20,862 |
Total | Other consumer | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Net loans receivable | 51,765 | 49,676 |
Loans receivable | $ 51,765 | $ 49,676 |
LOANS RECEIVABLE AND ALLOWAN_13
LOANS RECEIVABLE AND ALLOWANCE FOR CREDIT LOSSES - Nonperforming Loans (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Total | $ 3,909,753 | $ 3,634,792 |
1-4 Family Construction | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Current fiscal year | 10,338 | 27,539 |
One fiscal year before current year | 22,977 | 9,137 |
Two fiscal years before current year | 6,740 | 857 |
Three fiscal years before current year | 740 | 66 |
Four fiscal years before current year | 64 | 0 |
More than four fiscal years before current year | 0 | 0 |
Revolving Loans Amortized Cost Basis | 131 | 223 |
Revolving Loans Converted to Term | 0 | 0 |
Total | 40,990 | 37,822 |
Home equity lines of credit | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Current fiscal year | 19,051 | 14,383 |
One fiscal year before current year | 16,290 | 14,621 |
Two fiscal years before current year | 12,999 | 9,573 |
Three fiscal years before current year | 8,539 | 10,594 |
Four fiscal years before current year | 8,645 | 7,240 |
More than four fiscal years before current year | 41,553 | 39,955 |
Revolving Loans Amortized Cost Basis | 8,759 | 8,151 |
Revolving Loans Converted to Term | 0 | 0 |
Total | 115,836 | 104,517 |
Residential Mortgages secured by first liens | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Current fiscal year | 121,438 | 232,685 |
One fiscal year before current year | 226,720 | 178,639 |
Two fiscal years before current year | 165,680 | 111,560 |
Three fiscal years before current year | 100,179 | 63,001 |
Four fiscal years before current year | 54,824 | 74,394 |
More than four fiscal years before current year | 203,543 | 162,781 |
Revolving Loans Amortized Cost Basis | 3,590 | 3,669 |
Revolving Loans Converted to Term | 0 | 0 |
Total | 875,974 | 826,729 |
Residential Mortgages secured by junior liens | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Current fiscal year | 13,080 | 20,617 |
One fiscal year before current year | 18,915 | 11,256 |
Two fiscal years before current year | 9,713 | 7,239 |
Three fiscal years before current year | 5,922 | 4,407 |
Four fiscal years before current year | 3,477 | 3,592 |
More than four fiscal years before current year | 10,395 | 9,158 |
Revolving Loans Amortized Cost Basis | 710 | 420 |
Revolving Loans Converted to Term | 0 | 0 |
Total | 62,212 | 56,689 |
Other revolving credit plans | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Current fiscal year | 4,003 | 5,313 |
One fiscal year before current year | 4,197 | 3,596 |
Two fiscal years before current year | 4,268 | 3,094 |
Three fiscal years before current year | 3,035 | 2,596 |
Four fiscal years before current year | 2,338 | 2,977 |
More than four fiscal years before current year | 10,927 | 8,960 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term | 0 | 0 |
Total | 28,768 | 26,536 |
Automobile | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Current fiscal year | 4,469 | 7,058 |
One fiscal year before current year | 5,696 | 5,461 |
Two fiscal years before current year | 4,096 | 4,680 |
Three fiscal years before current year | 3,333 | 2,457 |
Four fiscal years before current year | 1,757 | 682 |
More than four fiscal years before current year | 815 | 524 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term | 0 | 0 |
Total | 20,166 | 20,862 |
Other consumer | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Current fiscal year | 16,322 | 30,627 |
One fiscal year before current year | 22,185 | 11,187 |
Two fiscal years before current year | 7,619 | 4,633 |
Three fiscal years before current year | 3,124 | 1,476 |
Four fiscal years before current year | 1,011 | 319 |
More than four fiscal years before current year | 1,504 | 1,434 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term | 0 | 0 |
Total | 51,765 | 49,676 |
Performing | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Total | 1,190,184 | 1,117,706 |
Performing | 1-4 Family Construction | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Current fiscal year | 10,338 | 27,539 |
One fiscal year before current year | 22,977 | 9,137 |
Two fiscal years before current year | 6,740 | 857 |
Three fiscal years before current year | 740 | 66 |
Four fiscal years before current year | 64 | 0 |
More than four fiscal years before current year | 0 | 0 |
Revolving Loans Amortized Cost Basis | 131 | 223 |
Revolving Loans Converted to Term | 0 | 0 |
Total | 40,990 | 37,822 |
Performing | Home equity lines of credit | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Current fiscal year | 19,051 | 14,383 |
One fiscal year before current year | 16,290 | 14,621 |
Two fiscal years before current year | 12,999 | 9,564 |
Three fiscal years before current year | 8,529 | 10,584 |
Four fiscal years before current year | 8,637 | 6,863 |
More than four fiscal years before current year | 40,985 | 39,527 |
Revolving Loans Amortized Cost Basis | 8,759 | 8,151 |
Revolving Loans Converted to Term | 0 | 0 |
Total | 115,250 | 103,693 |
Performing | Residential Mortgages secured by first liens | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Current fiscal year | 121,438 | 232,606 |
One fiscal year before current year | 226,101 | 178,380 |
Two fiscal years before current year | 165,399 | 111,333 |
Three fiscal years before current year | 99,774 | 62,850 |
Four fiscal years before current year | 54,696 | 74,136 |
More than four fiscal years before current year | 201,139 | 160,402 |
Revolving Loans Amortized Cost Basis | 3,401 | 3,475 |
Revolving Loans Converted to Term | 0 | 0 |
Total | 871,948 | 823,182 |
Performing | Residential Mortgages secured by junior liens | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Current fiscal year | 13,080 | 20,617 |
One fiscal year before current year | 18,915 | 11,256 |
Two fiscal years before current year | 9,713 | 7,239 |
Three fiscal years before current year | 5,919 | 4,407 |
Four fiscal years before current year | 3,477 | 3,508 |
More than four fiscal years before current year | 10,243 | 9,095 |
Revolving Loans Amortized Cost Basis | 665 | 420 |
Revolving Loans Converted to Term | 0 | 0 |
Total | 62,012 | 56,542 |
Performing | Other revolving credit plans | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Current fiscal year | 4,003 | 5,313 |
One fiscal year before current year | 4,197 | 3,596 |
Two fiscal years before current year | 4,268 | 3,090 |
Three fiscal years before current year | 3,030 | 2,592 |
Four fiscal years before current year | 2,318 | 2,977 |
More than four fiscal years before current year | 10,903 | 8,955 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term | 0 | 0 |
Total | 28,719 | 26,523 |
Performing | Automobile | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Current fiscal year | 4,469 | 7,047 |
One fiscal year before current year | 5,696 | 5,448 |
Two fiscal years before current year | 4,080 | 4,668 |
Three fiscal years before current year | 3,324 | 2,457 |
Four fiscal years before current year | 1,752 | 682 |
More than four fiscal years before current year | 815 | 524 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term | 0 | 0 |
Total | 20,136 | 20,826 |
Performing | Other consumer | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Current fiscal year | 16,282 | 30,423 |
One fiscal year before current year | 21,765 | 11,017 |
Two fiscal years before current year | 7,565 | 4,537 |
Three fiscal years before current year | 3,084 | 1,451 |
Four fiscal years before current year | 1,005 | 316 |
More than four fiscal years before current year | 1,428 | 1,374 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term | 0 | 0 |
Total | 51,129 | 49,118 |
Nonperforming | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Total | 5,527 | 5,125 |
Nonperforming | 1-4 Family Construction | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Current fiscal year | 0 | 0 |
One fiscal year before current year | 0 | 0 |
Two fiscal years before current year | 0 | 0 |
Three fiscal years before current year | 0 | 0 |
Four fiscal years before current year | 0 | 0 |
More than four fiscal years before current year | 0 | 0 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term | 0 | 0 |
Total | 0 | 0 |
Nonperforming | Home equity lines of credit | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Current fiscal year | 0 | 0 |
One fiscal year before current year | 0 | 0 |
Two fiscal years before current year | 0 | 9 |
Three fiscal years before current year | 10 | 10 |
Four fiscal years before current year | 8 | 377 |
More than four fiscal years before current year | 568 | 428 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term | 0 | 0 |
Total | 586 | 824 |
Nonperforming | Residential Mortgages secured by first liens | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Current fiscal year | 0 | 79 |
One fiscal year before current year | 619 | 259 |
Two fiscal years before current year | 281 | 227 |
Three fiscal years before current year | 405 | 151 |
Four fiscal years before current year | 128 | 258 |
More than four fiscal years before current year | 2,404 | 2,379 |
Revolving Loans Amortized Cost Basis | 189 | 194 |
Revolving Loans Converted to Term | 0 | 0 |
Total | 4,026 | 3,547 |
Nonperforming | Residential Mortgages secured by junior liens | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Current fiscal year | 0 | 0 |
One fiscal year before current year | 0 | 0 |
Two fiscal years before current year | 0 | 0 |
Three fiscal years before current year | 3 | 0 |
Four fiscal years before current year | 0 | 84 |
More than four fiscal years before current year | 152 | 63 |
Revolving Loans Amortized Cost Basis | 45 | 0 |
Revolving Loans Converted to Term | 0 | 0 |
Total | 200 | 147 |
Nonperforming | Other revolving credit plans | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Current fiscal year | 0 | 0 |
One fiscal year before current year | 0 | 0 |
Two fiscal years before current year | 0 | 4 |
Three fiscal years before current year | 5 | 4 |
Four fiscal years before current year | 20 | 0 |
More than four fiscal years before current year | 24 | 5 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term | 0 | 0 |
Total | 49 | 13 |
Nonperforming | Automobile | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Current fiscal year | 0 | 11 |
One fiscal year before current year | 0 | 13 |
Two fiscal years before current year | 16 | 12 |
Three fiscal years before current year | 9 | 0 |
Four fiscal years before current year | 5 | 0 |
More than four fiscal years before current year | 0 | 0 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term | 0 | 0 |
Total | 30 | 36 |
Nonperforming | Other consumer | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Current fiscal year | 40 | 204 |
One fiscal year before current year | 420 | 170 |
Two fiscal years before current year | 54 | 96 |
Three fiscal years before current year | 40 | 25 |
Four fiscal years before current year | 6 | 3 |
More than four fiscal years before current year | 76 | 60 |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term | 0 | 0 |
Total | $ 636 | $ 558 |
LOANS RECEIVABLE AND ALLOWAN_14
LOANS RECEIVABLE AND ALLOWANCE FOR CREDIT LOSSES - Recorded Investment in Residential, Consumer and Credit Card Loans Based on Payment Activity (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Net loans receivable | $ 3,869,210 | $ 3,597,204 |
Credit Card Consumer | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Net loans receivable | 11,049 | 9,935 |
Performing | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Net loans receivable | 1,190,184 | 1,117,706 |
Performing | Credit Card Consumer | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Net loans receivable | 11,046 | 9,912 |
Nonperforming | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Net loans receivable | 5,527 | 5,125 |
Nonperforming | Credit Card Consumer | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Net loans receivable | $ 3 | $ 23 |
LOANS RECEIVABLE AND ALLOWAN_15
LOANS RECEIVABLE AND ALLOWANCE FOR CREDIT LOSSES - Summary of Holiday's Loan Portfolio (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | $ 3,909,753 | $ 3,634,792 |
Net loans receivable | 3,869,210 | 3,597,204 |
Other consumer | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 51,765 | 49,676 |
Holiday Financial Services Corporation | Other consumer | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 30,058 | 29,227 |
Less: other consumer unearned discounts | (5,762) | (5,716) |
Net loans receivable | $ 24,296 | $ 23,511 |
LEASES - Additional Information
LEASES - Additional Information (Details) | Jun. 30, 2022 renewal |
Leases [Abstract] | |
Number of renewal options (at least) | 1 |
LEASES - Schedule of Operating
LEASES - Schedule of Operating and Finance Lease Liabilities (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Assets: | ||
Operating lease assets | $ 25,471 | $ 19,928 |
Finance lease assets | 322 | 358 |
Total leased assets | 25,793 | 20,286 |
Liabilities: | ||
Operating lease liabilities | 26,785 | 21,159 |
Finance lease liabilities | 426 | 469 |
Total leased liabilities | 27,211 | 21,628 |
Finance lease, net of accumulated amortization | $ 894 | $ 858 |
Premises and equipment, net | Premises and equipment, net | Premises and equipment, net |
Accrued interest payable and other liabilities | Accrued interest payable and other liabilities | Accrued interest payable and other liabilities |
LEASES - Schedule of Lease Cost
LEASES - Schedule of Lease Cost (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Leases [Abstract] | ||||
Operating lease cost | $ 566 | $ 437 | $ 1,058 | $ 877 |
Variable lease cost | 17 | 18 | 30 | 35 |
Finance lease cost: | ||||
Amortization of leased assets | 18 | 18 | 36 | 36 |
Finance lease liabilities | 5 | 6 | 10 | 12 |
Sublease income | (17) | (19) | (33) | (38) |
Net lease cost | $ 589 | $ 460 | $ 1,101 | $ 922 |
LEASES - Schedule of Maturity o
LEASES - Schedule of Maturity of Lease Liabilities (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Operating Leases | ||
2022 | $ 1,024 | |
2023 | 1,961 | |
2024 | 1,890 | |
2025 | 1,883 | |
2026 | 1,854 | |
After 2026 | 30,622 | |
Total lease payments | 39,234 | |
Less: Interest | 12,449 | |
Operating lease liabilities | 26,785 | $ 21,159 |
Finance Leases | ||
2022 | 52 | |
2023 | 105 | |
2024 | 105 | |
2025 | 105 | |
2026 | 105 | |
After 2026 | 0 | |
Total lease payments | 472 | |
Less: Interest | 46 | |
Present value of lease liabilities | 426 | $ 469 |
Total | ||
2022 | 1,076 | |
2023 | 2,066 | |
2024 | 1,995 | |
2025 | 1,988 | |
2026 | 1,959 | |
After 2026 | 30,622 | |
Total lease payments | 39,706 | |
Less: Interest | 12,495 | |
Present value of lease liabilities | 27,211 | |
Minimum payments lease | $ 7,800 |
LEASES - Schedule of Weighted A
LEASES - Schedule of Weighted Average Lease Term and Discount Rate (Details) | Jun. 30, 2022 | Dec. 31, 2021 |
Weighted-average remaining lease term (years) | ||
Operating leases | 22 years 1 month 6 days | 18 years 9 months 18 days |
Finance leases | 4 years 6 months | 5 years |
Weighted-average discount rate | ||
Operating leases | 3.37% | 3.42% |
Finance leases | 4.49% | 4.49% |
LEASES - Other Information (Det
LEASES - Other Information (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Leases [Abstract] | ||
Operating cash flows from operating leases | $ 581 | $ 452 |
DEPOSITS - Summary of Deposit M
DEPOSITS - Summary of Deposit Maturities (Details) $ in Thousands | Jun. 30, 2022 USD ($) |
Deposits [Abstract] | |
2022 | $ 134,701 |
2023 | 68,882 |
2024 | 36,206 |
2025 | 38,976 |
2026 | 10,694 |
Thereafter | 14,818 |
Total | $ 304,277 |
DEPOSITS - Additional Informati
DEPOSITS - Additional Information (Details) - USD ($) $ in Millions | Jun. 30, 2022 | Dec. 31, 2021 |
Deposits [Abstract] | ||
Certificates of deposit of $250 thousand or more | $ 90.9 | $ 116.6 |
Brokered deposits | $ 27.4 | $ 52.9 |
BORROWINGS (Details)
BORROWINGS (Details) | 1 Months Ended | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2021 USD ($) | Jun. 30, 2022 USD ($) agreement | Dec. 31, 2021 USD ($) agreement | Dec. 31, 2007 USD ($) security | |
Debt Instrument [Line Items] | ||||
Federal home loan balance | $ 150,000,000 | |||
Prepayments of the FHLB borrowings | 1,400,000,000 | $ 1,300,000,000 | ||
Remaining borrowing capacity | 1,000,000,000 | 932,700,000 | ||
Advances from the FHLB | 0 | 0 | ||
Naming applicable municipalities as beneficiaries | 15,000,000 | 10,400,000 | ||
Unamortized debt issuance costs | $ 1,200,000 | $ 1,300,000 | ||
Subordinated Debt | ||||
Debt Instrument [Line Items] | ||||
Number of preferred trust securities | security | 2 | |||
Floating rate trust preferred securities | $ 10,000,000 | |||
Effective percentage | 3.38% | 1.75% | ||
Trust preferred securities, interest payment deferment period | 5 years | |||
Subordinated Debt | LIBOR | ||||
Debt Instrument [Line Items] | ||||
Line of credit, basis spread on variable rate | 1.55% | |||
Notes Maturing In June 2031 | Subordinated Debt | ||||
Debt Instrument [Line Items] | ||||
Floating rate trust preferred securities | $ 85,000,000 | |||
Interest rate, percentage | 3.25% | |||
Proceeds from issuance of subordinated notes, net of issuance costs | $ 83,500,000 | |||
Notes Maturing In June 2031 | Subordinated Debt | SOFR | ||||
Debt Instrument [Line Items] | ||||
Line of credit, basis spread on variable rate | 2.58% | |||
Line of Credit | Unsecured Debt | ||||
Debt Instrument [Line Items] | ||||
Number of unsecured lines of credit issued | agreement | 1 | 1 | ||
Pledge on certain loan amount | $ 10,000,000 | $ 10,000,000 | ||
Line of credit, outstanding amount | $ 0 | 0 | ||
Line of Credit | Unsecured Debt | SOFR | ||||
Debt Instrument [Line Items] | ||||
Line of credit, basis spread on variable rate | 285% | |||
Line of Credit | Overnight Borrowing Agreements | ||||
Debt Instrument [Line Items] | ||||
Line of credit, outstanding amount | $ 0 | $ 0 |
OFF-BALANCE SHEET COMMITMENTS_3
OFF-BALANCE SHEET COMMITMENTS AND CONTINGENCIES - Schedule of Off-Balance Sheet Risks (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Commitments to make loans | Fixed Rate | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Off-balance sheet risks, amount, liability | $ 82,054 | $ 94,924 |
Commitments to make loans | Variable Rate | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Off-balance sheet risks, amount, liability | 374,464 | 323,013 |
Unused lines of credit | Fixed Rate | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Off-balance sheet risks, amount, liability | 17,804 | 13,265 |
Unused lines of credit | Variable Rate | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Off-balance sheet risks, amount, liability | 679,710 | 663,903 |
Standby letters of credit | Fixed Rate | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Off-balance sheet risks, amount, liability | 15,807 | 15,063 |
Standby letters of credit | Variable Rate | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Off-balance sheet risks, amount, liability | $ 1,640 | $ 1,623 |
OFF-BALANCE SHEET COMMITMENTS_4
OFF-BALANCE SHEET COMMITMENTS AND CONTINGENCIES - Additional Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||||
Amortization | $ 197 | $ 189 | $ 395 | $ 378 | |
Capital Contributions, Small Business Investment Corporation | |||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||||
Capital contributions | 16,400 | $ 14,500 | |||
Small Business Investment Corporations | |||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||||
Capital contributions | 6,100 | 8,000 | |||
Capital Contributions, Low Income Housing Partnerships | |||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||||
Capital contributions | 4,900 | 5,300 | |||
Low Income Housing Partnerships | |||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||||
Capital contributions | $ 1,400 | $ 2,100 |
OFF-BALANCE SHEET COMMITMENTS_5
OFF-BALANCE SHEET COMMITMENTS AND CONTINGENCIES - Allowance for Credit Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Off-Balance-Sheet, Credit Loss, Liability [Roll Forward] | ||||
Beginning balance | $ 586 | $ 0 | $ 0 | $ 0 |
Provision for credit losses on unfunded loan commitments | 0 | 0 | 586 | 0 |
Ending balance | $ 586 | $ 0 | $ 586 | $ 0 |
STOCK COMPENSATION - Additional
STOCK COMPENSATION - Additional Information (Details) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | Dec. 31, 2020 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Number of nonqualified options or restricted stock for key employees and independent director (in shares) | 507,671 | 507,671 | ||||
Unrecognized compensation cost related to nonvested stock options granted | $ 0 | $ 0 | ||||
Shares, granted (in shares) | 0 | 0 | 0 | 0 | ||
Compensation expense | $ 256,000 | $ 303,000 | $ 757,000 | $ 812,000 | ||
Fair value of shares vesting during period | 2,000 | 19,000 | $ 987,000 | 805,000 | ||
Tranche One | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Stock incentive plan, vesting per year | 33% | |||||
Tranche Two | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Stock incentive plan, vesting per year | 25% | |||||
Tranche Three | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Stock incentive plan, vesting per year | 20% | |||||
Restricted Stock Units (RSUs) | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Income tax benefit from share-based compensation | $ 54,000 | $ 64,000 | $ 159,000 | $ 171,000 | ||
Granted (in shares) | 0 | 44,369 | ||||
Weighted average grant (in dollars per share) | $ 0 | $ 26.71 | ||||
Unrecognized compensation cost related to nonvested restricted stock | $ 1,900,000 | $ 1,900,000 | $ 1,100,000 | |||
Shares vested (in shares) | 89 | 25,210 | ||||
Performance Based Restricted Stock Awards | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Fair value of shares vesting during period | $ 318,000 | |||||
Shares vested (in shares) | 11,895 | |||||
Performance Based Restricted Stock Awards | Maximum | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Shares, granted (in shares) | 13,761 | 18,210 | 18,100 | |||
Award vesting period | 3 years | |||||
Restricted Stock | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Granted (in shares) | 11,790 | |||||
Weighted average grant (in dollars per share) | $ 26.71 | |||||
Key Employees | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Starting period of vesting of stock based award | 1 year | |||||
Aggregate percentage of stock based awards to be matured | 100% | |||||
Independent Directors | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Starting period of vesting of stock based award | 1 year | |||||
Aggregate percentage of stock based awards to be matured | 100% |
STOCK COMPENSATION - Summary of
STOCK COMPENSATION - Summary of Changes in Unvested Restricted Stock Awards (Details) - Restricted Stock Units (RSUs) - $ / shares | 3 Months Ended | 6 Months Ended |
Jun. 30, 2022 | Jun. 30, 2022 | |
Shares | ||
Unvested at beginning of period (in shares) | 88,891 | 69,643 |
Granted (in shares) | 0 | 44,369 |
Forfeited (in shares) | (1,090) | (1,090) |
Vested (in shares) | (89) | (25,210) |
Unvested at end of period (in shares) | 87,712 | 87,712 |
Per Share Weighted Average Grant Date Fair Value | ||
Unvested at beginning of period (in dollars per share) | $ 20.10 | $ 24.18 |
Granted (in dollars per share) | 0 | 26.71 |
Forfeited (in dollars per shares) | 25.06 | 25.06 |
Vested (in dollars per share) | 25.27 | 24.78 |
Unvested at end of period (in dollars per share) | $ 20.18 | $ 20.18 |
EARNINGS PER COMMON SHARE - Add
EARNINGS PER COMMON SHARE - Additional Information (Details) - shares | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Earnings Per Share [Abstract] | ||||
Antidilutive shares excluded from the diluted earnings per share calculations (in shares) | 0 | 0 | 0 | 0 |
EARNINGS PER COMMON SHARE - Com
EARNINGS PER COMMON SHARE - Computation of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Basic earnings per common share computation: | ||||
Net income per condensed consolidated statements of income | $ 14,363 | $ 12,915 | $ 28,533 | $ 26,021 |
Net earnings allocated to participating securities | (68) | (47) | (132) | (92) |
Net earnings allocated to common stock | $ 14,295 | $ 12,868 | $ 28,401 | $ 25,929 |
Weighted average common shares outstanding, including shares considered participating securities (in shares) | 16,860 | 16,885 | 16,871 | 16,870 |
Less: Average participating securities (in shares) | (78) | (60) | (75) | (58) |
Weighted average shares (in shares) | 16,782 | 16,825 | 16,796 | 16,812 |
Basic earnings per common share (in dollar per share) | $ 0.85 | $ 0.76 | $ 1.69 | $ 1.54 |
Diluted earnings per common share computation: | ||||
Net earnings allocated to common stock | $ 14,295 | $ 12,868 | $ 28,401 | $ 25,929 |
Weighted average common shares outstanding for basic earnings per common share (in shares) | 16,782 | 16,825 | 16,796 | 16,812 |
Add: Dilutive effects of performance based-shares (in shares) | 33 | 0 | 33 | 0 |
Weighted average shares and dilutive potential common shares (in shares) | 16,815 | 16,825 | 16,829 | 16,812 |
Diluted earnings per common share (in dollar per share) | $ 0.85 | $ 0.76 | $ 1.69 | $ 1.54 |
Distributed earnings allocated to common stock | ||||
Basic earnings per common share computation: | ||||
Net earnings allocated to common stock | $ 2,935 | $ 2,859 | $ 5,879 | $ 5,718 |
Undistributed earnings allocated to common stock | ||||
Basic earnings per common share computation: | ||||
Net earnings allocated to common stock | $ 11,360 | $ 10,009 | $ 22,522 | $ 20,211 |
DERIVATIVE INSTRUMENTS - Additi
DERIVATIVE INSTRUMENTS - Additional Information (Details) - USD ($) | 6 Months Ended | ||
Sep. 07, 2018 | Jun. 30, 2022 | Dec. 31, 2021 | |
Schedule Of Loans And Allowance For Loan By Class Individually And Collectively Evaluated For Impairment [Line Items] | |||
Derivatives designated as fair value hedges | $ 0 | $ 0 | |
Accumulated other comprehensive loss estimated | 115,000 | ||
Collateral amount for counterparty interest rate swap | $ 1,100,000 | 1,100,000 | |
2.98% Fixed Rate Plus 155 Basis Points | |||
Schedule Of Loans And Allowance For Loan By Class Individually And Collectively Evaluated For Impairment [Line Items] | |||
Interest rate being paid by the corporation | 4.53% | ||
Interest Rate Swaps | |||
Schedule Of Loans And Allowance For Loan By Class Individually And Collectively Evaluated For Impairment [Line Items] | |||
Cash collateral pledged | $ 373,000 | $ 3,400,000 | |
Unsecured Debt | |||
Schedule Of Loans And Allowance For Loan By Class Individually And Collectively Evaluated For Impairment [Line Items] | |||
Term of contract | 5 years | ||
Cash flow hedges | $ 10,000,000 | ||
Unsecured Debt | LIBOR Plus 155 Basis Points | |||
Schedule Of Loans And Allowance For Loan By Class Individually And Collectively Evaluated For Impairment [Line Items] | |||
Variable interest rate on subordinate debt | 3.38% | ||
Unsecured Debt | 2.98% Fixed Rate Plus 155 Basis Points | |||
Schedule Of Loans And Allowance For Loan By Class Individually And Collectively Evaluated For Impairment [Line Items] | |||
Weighted average fixed Rate | 2.98% | ||
Unsecured Debt | LIBOR | LIBOR Plus 155 Basis Points | |||
Schedule Of Loans And Allowance For Loan By Class Individually And Collectively Evaluated For Impairment [Line Items] | |||
Basis spread on variable rate | 1.55% | ||
Unsecured Debt | LIBOR | 2.98% Fixed Rate Plus 155 Basis Points | |||
Schedule Of Loans And Allowance For Loan By Class Individually And Collectively Evaluated For Impairment [Line Items] | |||
Basis spread on variable rate | 1.55% |
DERIVATIVE INSTRUMENTS - Amount
DERIVATIVE INSTRUMENTS - Amounts and Locations of Activity Related to Interest Rate Swaps Designated as Cash Flow Hedges within Corporation's Consolidated Balance Sheet and Statement of Income (Details) - Interest Rate Swaps - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | |
Derivative [Line Items] | |||||
Interest rate contracts | $ 110 | $ 50 | $ 322 | $ 134 | |
Accrued interest and other liabilities | |||||
Derivative [Line Items] | |||||
Accrued interest and other liabilities | 18 | 18 | $ (388) | ||
Interest expense – subordinated notes and debentures | |||||
Derivative [Line Items] | |||||
Other income | (51) | (62) | (118) | (131) | |
Other income | |||||
Derivative [Line Items] | |||||
Other income | $ 0 | $ 0 | $ 0 | $ 0 |
DERIVATIVE INSTRUMENTS - Amou_2
DERIVATIVE INSTRUMENTS - Amounts and Locations of Activity Related to Back-to-Back Interest Rate Swaps within Corporation's Consolidated Balance Sheet (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2022 | Dec. 31, 2021 | |
3rd Party interest rate swaps | ||
Schedule Of Loans And Allowance For Loan By Class Individually And Collectively Evaluated For Impairment [Line Items] | ||
Notional Amount | $ 32,095 | $ 32,768 |
Weighted Average Maturity (in years) | 5 years 5 months 8 days | 5 years 9 months 18 days |
Weighted Average Fixed Rate | 4.12% | 4.12% |
Fair Value | $ 441 | $ 2,124 |
Customer interest rate swaps | ||
Schedule Of Loans And Allowance For Loan By Class Individually And Collectively Evaluated For Impairment [Line Items] | ||
Derivative Liability, Notional Amount | $ (32,095) | $ (32,768) |
Weighted Average Maturity (in years) | 5 years 5 months 8 days | 5 years 9 months 18 days |
Weighted Average Fixed Rate | 4.12% | 4.12% |
Fair Value | $ (441) | $ (2,124) |
LIBOR | 3rd Party interest rate swaps | ||
Schedule Of Loans And Allowance For Loan By Class Individually And Collectively Evaluated For Impairment [Line Items] | ||
Basis spread on variable rate | 2.27% | 2.27% |
LIBOR | Customer interest rate swaps | ||
Schedule Of Loans And Allowance For Loan By Class Individually And Collectively Evaluated For Impairment [Line Items] | ||
Basis spread on variable rate | 2.27% | 2.27% |
FAIR VALUE - Assets and Liabili
FAIR VALUE - Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Securities Available-For-Sale: | ||
Total Securities Available-For-Sale | $ 404,407 | $ 697,191 |
Fair Value Measurement on Recurring Basis | ||
Securities Available-For-Sale: | ||
Total Securities Available-For-Sale | 404,407 | 697,191 |
Interest Rate swaps | 441 | 2,124 |
Equity Securities: | ||
Total Trading Securities | 9,539 | 10,366 |
Liabilities: | ||
Interest Rate Swaps | (423) | (2,512) |
Fair Value Measurement on Recurring Basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | ||
Securities Available-For-Sale: | ||
Total Securities Available-For-Sale | 0 | 4,995 |
Interest Rate swaps | 0 | 0 |
Equity Securities: | ||
Total Trading Securities | 9,539 | 10,366 |
Liabilities: | ||
Interest Rate Swaps | 0 | 0 |
Fair Value Measurement on Recurring Basis | Significant Other Observable Inputs (Level 2) | ||
Securities Available-For-Sale: | ||
Total Securities Available-For-Sale | 404,407 | 692,196 |
Interest Rate swaps | 441 | 2,124 |
Equity Securities: | ||
Total Trading Securities | 0 | 0 |
Liabilities: | ||
Interest Rate Swaps | (423) | (2,512) |
Fair Value Measurement on Recurring Basis | Significant Unobservable Inputs (Level 3) | ||
Securities Available-For-Sale: | ||
Total Securities Available-For-Sale | 0 | 0 |
Interest Rate swaps | 0 | 0 |
Equity Securities: | ||
Total Trading Securities | 0 | 0 |
Liabilities: | ||
Interest Rate Swaps | 0 | 0 |
U.S. Government sponsored entities | ||
Securities Available-For-Sale: | ||
Total Securities Available-For-Sale | 2,211 | 111,748 |
U.S. Government sponsored entities | Fair Value Measurement on Recurring Basis | ||
Securities Available-For-Sale: | ||
Total Securities Available-For-Sale | 2,211 | 111,748 |
U.S. Government sponsored entities | Fair Value Measurement on Recurring Basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | ||
Securities Available-For-Sale: | ||
Total Securities Available-For-Sale | 0 | 0 |
U.S. Government sponsored entities | Fair Value Measurement on Recurring Basis | Significant Other Observable Inputs (Level 2) | ||
Securities Available-For-Sale: | ||
Total Securities Available-For-Sale | 2,211 | 111,748 |
U.S. Government sponsored entities | Fair Value Measurement on Recurring Basis | Significant Unobservable Inputs (Level 3) | ||
Securities Available-For-Sale: | ||
Total Securities Available-For-Sale | 0 | 0 |
States and political subdivisions | ||
Securities Available-For-Sale: | ||
Total Securities Available-For-Sale | 103,509 | 103,712 |
States and political subdivisions | Fair Value Measurement on Recurring Basis | ||
Securities Available-For-Sale: | ||
Total Securities Available-For-Sale | 103,509 | 103,712 |
States and political subdivisions | Fair Value Measurement on Recurring Basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | ||
Securities Available-For-Sale: | ||
Total Securities Available-For-Sale | 0 | 0 |
States and political subdivisions | Fair Value Measurement on Recurring Basis | Significant Other Observable Inputs (Level 2) | ||
Securities Available-For-Sale: | ||
Total Securities Available-For-Sale | 103,509 | 103,712 |
States and political subdivisions | Fair Value Measurement on Recurring Basis | Significant Unobservable Inputs (Level 3) | ||
Securities Available-For-Sale: | ||
Total Securities Available-For-Sale | 0 | 0 |
Residential and multi-family mortgage | ||
Securities Available-For-Sale: | ||
Total Securities Available-For-Sale | 244,513 | 434,635 |
Residential and multi-family mortgage | Fair Value Measurement on Recurring Basis | ||
Securities Available-For-Sale: | ||
Total Securities Available-For-Sale | 244,513 | 434,635 |
Residential and multi-family mortgage | Fair Value Measurement on Recurring Basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | ||
Securities Available-For-Sale: | ||
Total Securities Available-For-Sale | 0 | 4,995 |
Residential and multi-family mortgage | Fair Value Measurement on Recurring Basis | Significant Other Observable Inputs (Level 2) | ||
Securities Available-For-Sale: | ||
Total Securities Available-For-Sale | 244,513 | 429,640 |
Residential and multi-family mortgage | Fair Value Measurement on Recurring Basis | Significant Unobservable Inputs (Level 3) | ||
Securities Available-For-Sale: | ||
Total Securities Available-For-Sale | 0 | 0 |
Corporate notes and bonds | Fair Value Measurement on Recurring Basis | ||
Securities Available-For-Sale: | ||
Total Securities Available-For-Sale | 39,080 | 28,064 |
Corporate notes and bonds | Fair Value Measurement on Recurring Basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | ||
Securities Available-For-Sale: | ||
Total Securities Available-For-Sale | 0 | 0 |
Corporate notes and bonds | Fair Value Measurement on Recurring Basis | Significant Other Observable Inputs (Level 2) | ||
Securities Available-For-Sale: | ||
Total Securities Available-For-Sale | 39,080 | 28,064 |
Corporate notes and bonds | Fair Value Measurement on Recurring Basis | Significant Unobservable Inputs (Level 3) | ||
Securities Available-For-Sale: | ||
Total Securities Available-For-Sale | 0 | 0 |
Pooled SBA | ||
Securities Available-For-Sale: | ||
Total Securities Available-For-Sale | 15,094 | 19,032 |
Pooled SBA | Fair Value Measurement on Recurring Basis | ||
Securities Available-For-Sale: | ||
Total Securities Available-For-Sale | 15,094 | 19,032 |
Pooled SBA | Fair Value Measurement on Recurring Basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | ||
Securities Available-For-Sale: | ||
Total Securities Available-For-Sale | 0 | 0 |
Pooled SBA | Fair Value Measurement on Recurring Basis | Significant Other Observable Inputs (Level 2) | ||
Securities Available-For-Sale: | ||
Total Securities Available-For-Sale | 15,094 | 19,032 |
Pooled SBA | Fair Value Measurement on Recurring Basis | Significant Unobservable Inputs (Level 3) | ||
Securities Available-For-Sale: | ||
Total Securities Available-For-Sale | 0 | 0 |
Corporate equity securities | Fair Value Measurement on Recurring Basis | ||
Equity Securities: | ||
Total Trading Securities | 6,272 | 6,715 |
Corporate equity securities | Fair Value Measurement on Recurring Basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | ||
Equity Securities: | ||
Total Trading Securities | 6,272 | 6,715 |
Corporate equity securities | Fair Value Measurement on Recurring Basis | Significant Other Observable Inputs (Level 2) | ||
Equity Securities: | ||
Total Trading Securities | 0 | 0 |
Corporate equity securities | Fair Value Measurement on Recurring Basis | Significant Unobservable Inputs (Level 3) | ||
Equity Securities: | ||
Total Trading Securities | 0 | 0 |
Mutual funds | Fair Value Measurement on Recurring Basis | ||
Equity Securities: | ||
Total Trading Securities | 2,591 | 2,566 |
Mutual funds | Fair Value Measurement on Recurring Basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | ||
Equity Securities: | ||
Total Trading Securities | 2,591 | 2,566 |
Mutual funds | Fair Value Measurement on Recurring Basis | Significant Other Observable Inputs (Level 2) | ||
Equity Securities: | ||
Total Trading Securities | 0 | 0 |
Mutual funds | Fair Value Measurement on Recurring Basis | Significant Unobservable Inputs (Level 3) | ||
Equity Securities: | ||
Total Trading Securities | 0 | 0 |
Certificates of deposit | Fair Value Measurement on Recurring Basis | ||
Equity Securities: | ||
Total Trading Securities | 506 | |
Certificates of deposit | Fair Value Measurement on Recurring Basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | ||
Equity Securities: | ||
Total Trading Securities | 506 | |
Certificates of deposit | Fair Value Measurement on Recurring Basis | Significant Other Observable Inputs (Level 2) | ||
Equity Securities: | ||
Total Trading Securities | 0 | |
Certificates of deposit | Fair Value Measurement on Recurring Basis | Significant Unobservable Inputs (Level 3) | ||
Equity Securities: | ||
Total Trading Securities | 0 | |
Corporate notes and bonds | ||
Securities Available-For-Sale: | ||
Total Securities Available-For-Sale | 39,080 | 28,064 |
Corporate notes and bonds | Fair Value Measurement on Recurring Basis | ||
Equity Securities: | ||
Total Trading Securities | 676 | 579 |
Corporate notes and bonds | Fair Value Measurement on Recurring Basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | ||
Equity Securities: | ||
Total Trading Securities | 676 | 579 |
Corporate notes and bonds | Fair Value Measurement on Recurring Basis | Significant Other Observable Inputs (Level 2) | ||
Equity Securities: | ||
Total Trading Securities | 0 | 0 |
Corporate notes and bonds | Fair Value Measurement on Recurring Basis | Significant Unobservable Inputs (Level 3) | ||
Equity Securities: | ||
Total Trading Securities | $ 0 | $ 0 |
FAIR VALUE - Securities Availab
FAIR VALUE - Securities Available for Sale Measured at Fair Value on Recurring Basis Using Significant Unobservable Inputs (Level 3) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended |
Jun. 30, 2021 | Jun. 30, 2021 | |
States and Political Subdivisions | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Beginning Balance | $ 64 | |
Purchases | 0 | |
Total gains or (losses): | ||
Included in other comprehensive income (loss) | 0 | |
Settlements | (64) | |
Transfers into Level 3 | 0 | |
Transfers out of Level 3 | 0 | |
Ending Balance | $ 0 | 0 |
Corporate Notes and Bonds | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Beginning Balance | 2,250 | 0 |
Purchases | 6,000 | 6,750 |
Total gains or (losses): | ||
Included in other comprehensive income (loss) | 76 | 76 |
Settlements | 0 | 0 |
Transfers into Level 3 | 1,500 | 3,000 |
Transfers out of Level 3 | 0 | 0 |
Ending Balance | $ 9,826 | $ 9,826 |
FAIR VALUE - Assets and Liabi_2
FAIR VALUE - Assets and Liabilities Measured at Fair Value on Non-Recurring Basis (Details) - Fair Value, Measurements, Nonrecurring - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Farmland | ||
Impaired Loans [Abstract] | ||
Obligations (other than securities and leases) of states and political subdivisions | $ 895 | $ 920 |
Farmland | Quoted Prices in Active Markets for Identical Assets (Level 1) | ||
Impaired Loans [Abstract] | ||
Obligations (other than securities and leases) of states and political subdivisions | 0 | 0 |
Farmland | Significant Other Observable Inputs (Level 2) | ||
Impaired Loans [Abstract] | ||
Obligations (other than securities and leases) of states and political subdivisions | 0 | 0 |
Farmland | Significant Unobservable Inputs (Level 3) | ||
Impaired Loans [Abstract] | ||
Obligations (other than securities and leases) of states and political subdivisions | 895 | 920 |
Owner-occupied, nonfarm nonresidential properties | ||
Impaired Loans [Abstract] | ||
Obligations (other than securities and leases) of states and political subdivisions | 1,163 | 194 |
Owner-occupied, nonfarm nonresidential properties | Quoted Prices in Active Markets for Identical Assets (Level 1) | ||
Impaired Loans [Abstract] | ||
Obligations (other than securities and leases) of states and political subdivisions | 0 | 0 |
Owner-occupied, nonfarm nonresidential properties | Significant Other Observable Inputs (Level 2) | ||
Impaired Loans [Abstract] | ||
Obligations (other than securities and leases) of states and political subdivisions | 0 | 0 |
Owner-occupied, nonfarm nonresidential properties | Significant Unobservable Inputs (Level 3) | ||
Impaired Loans [Abstract] | ||
Obligations (other than securities and leases) of states and political subdivisions | 1,163 | 194 |
Commercial and Industrial | ||
Impaired Loans [Abstract] | ||
Obligations (other than securities and leases) of states and political subdivisions | 1,723 | 3,102 |
Commercial and Industrial | Quoted Prices in Active Markets for Identical Assets (Level 1) | ||
Impaired Loans [Abstract] | ||
Obligations (other than securities and leases) of states and political subdivisions | 0 | 0 |
Commercial and Industrial | Significant Other Observable Inputs (Level 2) | ||
Impaired Loans [Abstract] | ||
Obligations (other than securities and leases) of states and political subdivisions | 0 | 0 |
Commercial and Industrial | Significant Unobservable Inputs (Level 3) | ||
Impaired Loans [Abstract] | ||
Obligations (other than securities and leases) of states and political subdivisions | 1,723 | 3,102 |
Multifamily (5 or more) residential properties | ||
Impaired Loans [Abstract] | ||
Obligations (other than securities and leases) of states and political subdivisions | 543 | 627 |
Multifamily (5 or more) residential properties | Quoted Prices in Active Markets for Identical Assets (Level 1) | ||
Impaired Loans [Abstract] | ||
Obligations (other than securities and leases) of states and political subdivisions | 0 | 0 |
Multifamily (5 or more) residential properties | Significant Other Observable Inputs (Level 2) | ||
Impaired Loans [Abstract] | ||
Obligations (other than securities and leases) of states and political subdivisions | 0 | 0 |
Multifamily (5 or more) residential properties | Significant Unobservable Inputs (Level 3) | ||
Impaired Loans [Abstract] | ||
Obligations (other than securities and leases) of states and political subdivisions | 543 | 627 |
Non-owner occupied, nonfarm nonresidential properties | ||
Impaired Loans [Abstract] | ||
Obligations (other than securities and leases) of states and political subdivisions | 2,746 | 2,889 |
Non-owner occupied, nonfarm nonresidential properties | Quoted Prices in Active Markets for Identical Assets (Level 1) | ||
Impaired Loans [Abstract] | ||
Obligations (other than securities and leases) of states and political subdivisions | 0 | 0 |
Non-owner occupied, nonfarm nonresidential properties | Significant Other Observable Inputs (Level 2) | ||
Impaired Loans [Abstract] | ||
Obligations (other than securities and leases) of states and political subdivisions | 0 | 0 |
Non-owner occupied, nonfarm nonresidential properties | Significant Unobservable Inputs (Level 3) | ||
Impaired Loans [Abstract] | ||
Obligations (other than securities and leases) of states and political subdivisions | 2,746 | 2,889 |
Residential Mortgages secured by first liens | ||
Impaired Loans [Abstract] | ||
Obligations (other than securities and leases) of states and political subdivisions | 650 | |
Residential Mortgages secured by first liens | Quoted Prices in Active Markets for Identical Assets (Level 1) | ||
Impaired Loans [Abstract] | ||
Obligations (other than securities and leases) of states and political subdivisions | 0 | |
Residential Mortgages secured by first liens | Significant Other Observable Inputs (Level 2) | ||
Impaired Loans [Abstract] | ||
Obligations (other than securities and leases) of states and political subdivisions | 0 | |
Residential Mortgages secured by first liens | Significant Unobservable Inputs (Level 3) | ||
Impaired Loans [Abstract] | ||
Obligations (other than securities and leases) of states and political subdivisions | $ 650 | |
Other construction loans and all land development and other land loans | ||
Impaired Loans [Abstract] | ||
Obligations (other than securities and leases) of states and political subdivisions | 248 | |
Other construction loans and all land development and other land loans | Quoted Prices in Active Markets for Identical Assets (Level 1) | ||
Impaired Loans [Abstract] | ||
Obligations (other than securities and leases) of states and political subdivisions | 0 | |
Other construction loans and all land development and other land loans | Significant Other Observable Inputs (Level 2) | ||
Impaired Loans [Abstract] | ||
Obligations (other than securities and leases) of states and political subdivisions | 0 | |
Other construction loans and all land development and other land loans | Significant Unobservable Inputs (Level 3) | ||
Impaired Loans [Abstract] | ||
Obligations (other than securities and leases) of states and political subdivisions | $ 248 |
FAIR VALUE - Quantitative Infor
FAIR VALUE - Quantitative Information about Level 3 Fair Value Measurements for Financial Instruments Measured at Fair Value on Non Recurring Basis (Details) - Fair Value, Measurements, Nonrecurring - Significant Unobservable Inputs (Level 3) $ in Thousands | Jun. 30, 2022 USD ($) | Dec. 31, 2021 USD ($) |
Farmland | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value | $ 895 | $ 920 |
Farmland | Minimum | Measurement Input, Loss Severity | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Valuation technique | 0.60 | |
Farmland | Maximum | Measurement Input, Loss Severity | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Valuation technique | 0.60 | |
Farmland | Weighted Average | Measurement Input, Loss Severity | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Valuation technique | 0.60 | 0.60 |
Owner-occupied, nonfarm nonresidential properties | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value | $ 1,163 | $ 194 |
Owner-occupied, nonfarm nonresidential properties | Minimum | Measurement Input, Loss Severity | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Valuation technique | 0 | 0 |
Owner-occupied, nonfarm nonresidential properties | Maximum | Measurement Input, Loss Severity | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Valuation technique | 0.60 | 0.60 |
Owner-occupied, nonfarm nonresidential properties | Weighted Average | Measurement Input, Loss Severity | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Valuation technique | 0.37 | 0.57 |
Commercial and Industrial | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value | $ 1,723 | $ 3,102 |
Commercial and Industrial | Minimum | Measurement Input, Loss Severity | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Valuation technique | 0 | 0 |
Commercial and Industrial | Maximum | Measurement Input, Loss Severity | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Valuation technique | 0.50 | 0.59 |
Commercial and Industrial | Weighted Average | Measurement Input, Loss Severity | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Valuation technique | 0.32 | 0.42 |
Multifamily (5 or more) residential properties | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value | $ 543 | $ 627 |
Multifamily (5 or more) residential properties | Minimum | Measurement Input, Loss Severity | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Valuation technique | 0 | 0 |
Multifamily (5 or more) residential properties | Maximum | Measurement Input, Loss Severity | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Valuation technique | 0.60 | 0.57 |
Multifamily (5 or more) residential properties | Weighted Average | Measurement Input, Loss Severity | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Valuation technique | 0.23 | 0.26 |
Non-owner occupied, nonfarm nonresidential properties | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value | $ 2,746 | $ 2,889 |
Non-owner occupied, nonfarm nonresidential properties | Minimum | Measurement Input, Loss Severity | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Valuation technique | 0.25 | 0.25 |
Non-owner occupied, nonfarm nonresidential properties | Maximum | Measurement Input, Loss Severity | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Valuation technique | 0.60 | 0.60 |
Non-owner occupied, nonfarm nonresidential properties | Weighted Average | Measurement Input, Loss Severity | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Valuation technique | 0.35 | 0.34 |
Residential Mortgages secured by first liens | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value | $ 650 | |
Residential Mortgages secured by first liens | Minimum | Measurement Input, Loss Severity | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Valuation technique | 0.25 | |
Residential Mortgages secured by first liens | Maximum | Measurement Input, Loss Severity | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Valuation technique | 0.57 | |
Residential Mortgages secured by first liens | Weighted Average | Measurement Input, Loss Severity | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Valuation technique | 0.40 | |
Other construction loans and all land development and other land loans | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value | $ 248 | |
Other construction loans and all land development and other land loans | Minimum | Measurement Input, Loss Severity | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Valuation technique | 0.25 | |
Other construction loans and all land development and other land loans | Weighted Average | Measurement Input, Loss Severity | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Valuation technique | 0.25 |
FAIR VALUE - Carrying Amount an
FAIR VALUE - Carrying Amount and Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
ASSETS | ||
Debt securities available-for-sale | $ 404,407 | $ 697,191 |
Debt securities held-to-maturity | 389,933 | 0 |
Carrying Amount | ||
ASSETS | ||
Cash and cash equivalents | 284,154 | 732,198 |
Debt securities available-for-sale | 404,407 | 697,191 |
Debt securities held-to-maturity | 413,310 | |
Equity securities | 9,539 | 10,366 |
Loans held for sale | 843 | 849 |
Net loans receivable | 3,869,210 | 3,597,204 |
FHLB and other restricted stock holdings and investments | 24,484 | 23,276 |
Interest rate swaps | 441 | 2,124 |
Accrued interest receivable | 16,731 | 15,516 |
LIABILITIES | ||
Deposits | (4,701,820) | (4,715,619) |
Subordinated debentures | (20,620) | |
Subordinated notes, net of unamortized issuance costs | (83,812) | (104,281) |
Interest rate swaps | (423) | (2,512) |
Accrued interest payable | (567) | (886) |
Total Fair Value | ||
ASSETS | ||
Cash and cash equivalents | 284,154 | 732,198 |
Debt securities available-for-sale | 404,407 | 697,191 |
Debt securities held-to-maturity | 389,933 | |
Equity securities | 9,539 | 10,366 |
Loans held for sale | 846 | 858 |
Net loans receivable | 3,869,617 | 3,613,452 |
Interest rate swaps | 441 | 2,124 |
Accrued interest receivable | 16,731 | 15,516 |
LIABILITIES | ||
Deposits | (4,704,788) | (4,721,017) |
Subordinated debentures | (14,084) | |
Subordinated notes, net of unamortized issuance costs | (83,922) | (92,675) |
Interest rate swaps | (423) | (2,512) |
Accrued interest payable | (567) | (886) |
Quoted Prices in Active Markets for Identical Assets (Level 1) | Total Fair Value | ||
ASSETS | ||
Cash and cash equivalents | 284,154 | 732,198 |
Debt securities available-for-sale | 0 | 4,995 |
Debt securities held-to-maturity | 0 | |
Equity securities | 9,539 | 10,366 |
Loans held for sale | 0 | 0 |
Net loans receivable | 0 | 0 |
Interest rate swaps | 0 | 0 |
Accrued interest receivable | 0 | 16 |
LIABILITIES | ||
Deposits | (4,397,542) | (4,329,167) |
Subordinated debentures | 0 | |
Subordinated notes, net of unamortized issuance costs | 0 | 0 |
Interest rate swaps | 0 | 0 |
Accrued interest payable | 0 | 0 |
Significant Other Observable Inputs (Level 2) | Total Fair Value | ||
ASSETS | ||
Cash and cash equivalents | 0 | 0 |
Debt securities available-for-sale | 404,407 | 692,196 |
Debt securities held-to-maturity | 389,933 | |
Equity securities | 0 | 0 |
Loans held for sale | 846 | 858 |
Net loans receivable | 0 | 0 |
Interest rate swaps | 441 | 2,124 |
Accrued interest receivable | 2,865 | 2,171 |
LIABILITIES | ||
Deposits | (307,246) | (391,850) |
Subordinated debentures | (14,084) | |
Subordinated notes, net of unamortized issuance costs | (83,922) | (92,675) |
Interest rate swaps | (423) | (2,512) |
Accrued interest payable | (567) | (886) |
Significant Unobservable Inputs (Level 3) | Total Fair Value | ||
ASSETS | ||
Cash and cash equivalents | 0 | 0 |
Debt securities available-for-sale | 0 | 0 |
Debt securities held-to-maturity | 0 | |
Equity securities | 0 | 0 |
Loans held for sale | 0 | 0 |
Net loans receivable | 3,869,617 | 3,613,452 |
Interest rate swaps | 0 | 0 |
Accrued interest receivable | 13,866 | 13,329 |
LIABILITIES | ||
Deposits | 0 | 0 |
Subordinated debentures | 0 | |
Subordinated notes, net of unamortized issuance costs | 0 | 0 |
Interest rate swaps | 0 | 0 |
Accrued interest payable | $ 0 | $ 0 |
REVENUE FROM CONTRACTS WITH C_3
REVENUE FROM CONTRACTS WITH CUSTOMERS - Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Non-interest Income | ||||
Service charges on deposit accounts | $ 1,771 | $ 1,446 | $ 3,528 | $ 2,794 |
Wealth and asset management fees | 1,803 | 1,765 | 3,586 | 3,287 |
Mortgage banking | 292 | 536 | 767 | 1,771 |
Card processing and interchange income | 1,992 | 2,079 | 3,801 | 3,913 |
Net gains (losses) on sales of securities | 0 | 0 | 651 | 0 |
Other income | 2,288 | 2,031 | 5,467 | 4,331 |
Total non-interest income | $ 8,146 | $ 7,857 | $ 17,800 | $ 16,096 |
Uncategorized Items - ccne-2022
Label | Element | Value |
Transfers From Loans Held For Investment To Loans Held For Sale | ccne_TransfersFromLoansHeldForInvestmentToLoansHeldForSale | $ 1,798,000 |
Transfers From Loans Held For Investment To Loans Held For Sale | ccne_TransfersFromLoansHeldForInvestmentToLoansHeldForSale | 0 |
Restricted Stock Award, Forfeitures | us-gaap_RestrictedStockAwardForfeitures | 27,000 |
Restricted Stock Award, Forfeitures | us-gaap_RestrictedStockAwardForfeitures | $ 0 |