Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Feb. 21, 2020 | Jun. 30, 2019 | |
Document Information [Line Items] | |||
Entity Central Index Key | 0000835324 | ||
Entity Registrant Name | Stock Yards Bancorp, Inc. | ||
Amendment Flag | false | ||
Current Fiscal Year End Date | --12-31 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2019 | ||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Period End Date | Dec. 31, 2019 | ||
Document Transition Report | false | ||
Entity File Number | 1-13661 | ||
Entity Incorporation, State or Country Code | KY | ||
Entity Tax Identification Number | 61-1137529 | ||
Entity Address, Address Line One | 1040 East Main Street | ||
Entity Address, City or Town | Louisville | ||
Entity Address, State or Province | KY | ||
Entity Address, Postal Zip Code | 40206 | ||
City Area Code | 502 | ||
Local Phone Number | 582-2571 | ||
Title of 12(b) Security | Common stock, no par value | ||
Trading Symbol | SYBT | ||
Security Exchange Name | NASDAQ | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Small Business | false | ||
Entity Emerging Growth Company | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 756,982,663 | ||
Entity Common Stock, Shares Outstanding | 22,637,670 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 | |
Assets | |||
Cash and due from banks | $ 46,863 | $ 51,892 | |
Federal funds sold and interest bearing due from banks | 202,861 | 147,047 | |
Cash and cash equivalents | 249,724 | 198,939 | |
Mortgage loans held for sale | 8,748 | 1,675 | |
Securities available for sale (amortized cost of $469,313 in 2019 and $443,742 in 2018) | 470,738 | 436,995 | |
Federal Home Loan Bank stock, at cost | 11,316 | 10,370 | |
Loans and leases | [1] | 2,845,016 | 2,548,171 |
Allowance for loan and lease losses | 26,791 | 25,534 | |
Net loans and leases | 2,818,225 | 2,522,637 | |
Premises and equipment, net | 58,618 | 44,764 | |
Bank owned life insurance | 32,557 | 32,273 | |
Accrued interest receivable | 8,534 | 8,360 | |
Goodwill | 12,513 | 682 | |
Core deposit intangible | 2,285 | 1,057 | |
Other assets | 50,939 | 45,172 | |
Total assets | 3,724,197 | 3,302,924 | |
Liabilities | |||
Non-interest bearing | 810,475 | 711,023 | |
Interest bearing | 2,323,463 | 2,083,333 | |
Total deposits | 3,133,938 | 2,794,356 | |
Securities sold under agreements to repurchase | 31,895 | 36,094 | |
Federal funds purchased | 10,887 | 10,247 | |
Federal Home Loan Bank advances | 79,953 | 48,177 | |
Accrued interest payable | 640 | 762 | |
Other liabilities | 60,587 | 46,788 | |
Total liabilities | 3,317,900 | 2,936,424 | |
Commitments and contingent liabilities (footnote 19) | 0 | 0 | |
Stockholders’ equity | |||
Preferred stock, no par value. Authorized 1,000,000 shares; no shares issued or outstanding | 0 | 0 | |
Common stock, no par value. Authorized 40,000,000 shares; issued and outstanding 22,604,000 and 22,749,000 shares in 2019 and 2018 | 36,207 | 36,689 | |
Additional paid-in capital | 35,714 | 36,797 | |
Retained earnings | 333,699 | 298,156 | |
Accumulated other comprehensive income (loss) | 677 | (5,142) | |
Total stockholders’ equity | 406,297 | 366,500 | |
Total liabilities and stockholders’ equity | $ 3,724,197 | $ 3,302,924 | |
[1] | Total loans are presented inclusive of premiums, discounts, and net loan origination fees and costs. |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - USD ($) $ / shares in Thousands, $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Securities available for sale, amortized cost | $ 469,313 | $ 443,742 |
Preferred stock, par value (in dollars per share) | $ 0 | $ 0 |
Preferred stock, shares authorized (in shares) | 1,000,000 | 1,000,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0 | $ 0 |
Common stock, shares authorized (in shares) | 40,000,000 | 40,000,000 |
Common stock, shares issued (in shares) | 22,604,000 | 22,749,000 |
Common stock, shares outstanding (in shares) | 22,604,000 | 22,749,000 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
Interest income: | ||||
Loans and leases, including fees | $ 134,342 | $ 118,467 | $ 99,924 | |
Federal funds sold and interest bearing due from banks | 2,933 | 1,307 | 1,330 | |
Mortgage loans held for sale | 182 | 166 | 191 | |
Securities available for sale | ||||
Taxable | 9,839 | 9,001 | 8,365 | |
Tax-exempt | 469 | 832 | 1,089 | |
Total interest income | 147,765 | 129,773 | 110,899 | |
Interest expense: | ||||
Deposits | 20,560 | 13,441 | 5,975 | |
Securities sold under agreements to repurchase and other short-term borrowings | 318 | 992 | 316 | |
Federal Home Loan Bank advances | 1,640 | 924 | 955 | |
Subordinated debentures | 26 | 0 | 0 | |
Total interest expense | 22,544 | 15,357 | 7,246 | |
Net interest income | 125,221 | 114,416 | 103,653 | |
Provision for loan and lease losses | 1,000 | 2,705 | 2,550 | |
Net interest income after provision | 124,221 | 111,711 | 101,103 | |
Non-interest income: | ||||
Non-interest income | 22,643 | 21,536 | 20,505 | |
Mortgage banking income | [1] | 3,090 | 2,568 | 3,221 |
Loss on sale of securities available for sale | 0 | 0 | (232) | |
Bank owned life insurance | [1] | 1,031 | 1,129 | 1,159 |
Total non-interest income | 49,790 | 45,346 | 44,499 | |
Non-interest expenses: | ||||
Compensation | 50,319 | 46,104 | 42,581 | |
Employee benefits | 11,038 | 10,098 | 9,987 | |
Net occupancy and equipment | 8,417 | 7,653 | 7,393 | |
Technology and communication | 9,591 | 8,897 | 7,957 | |
Marketing and business development | 3,627 | 3,099 | 2,716 | |
Postage, printing and supplies | 1,652 | 1,558 | 1,475 | |
Legal and professional | 3,014 | 2,614 | 2,393 | |
FDIC insurance | 245 | 961 | 960 | |
Amortization of investments in tax credit partnerships | 1,078 | 1,237 | 7,124 | |
Capital and deposit based taxes | 3,870 | 3,325 | 3,440 | |
Other | 5,500 | 3,963 | 4,394 | |
Total non-interest expenses | 98,351 | 89,509 | 90,420 | |
Income before income tax expense | 75,660 | 67,548 | 55,182 | |
Income tax expense | 9,593 | 12,031 | 17,139 | |
Net income | $ 66,067 | $ 55,517 | $ 38,043 | |
Net income per share, basic (in dollars per share) | $ 2.92 | $ 2.45 | $ 1.69 | |
Net income per share, diluted (in dollars per share) | $ 2.89 | $ 2.42 | $ 1.66 | |
Weighted average outstanding shares: | ||||
Basic (in shares) | 22,598 | 22,619 | 22,532 | |
Diluted (in shares) | 22,865 | 22,944 | 22,983 | |
Fiduciary and Trust [Member] | ||||
Non-interest income: | ||||
Non-interest income | $ 22,643 | $ 21,536 | $ 20,505 | |
Deposit Account [Member] | ||||
Non-interest income: | ||||
Non-interest income | 5,513 | 5,759 | 6,172 | |
Credit and Debit Card [Member] | ||||
Non-interest income: | ||||
Non-interest income | 8,123 | 6,769 | 5,979 | |
Treasury Management [Member] | ||||
Non-interest income: | ||||
Non-interest income | 4,992 | 4,571 | 4,297 | |
Investment Advisory, Management and Administrative Service [Member] | ||||
Non-interest income: | ||||
Non-interest income | 1,498 | 1,677 | 1,629 | |
Product and Service, Other [Member] | ||||
Non-interest income: | ||||
Non-interest income | $ 2,900 | $ 1,337 | $ 1,769 | |
[1] | Outside of the scope of ASC 606 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Net income | $ 66,067 | $ 55,517 | $ 38,043 |
Other comprehensive income: | |||
Change in unrealized gain (loss) on AFS debt securities | 8,172 | (3,865) | (1,252) |
Change in fair value of derivatives used in cashflow hedge | (567) | 220 | 321 |
Minimum pension liability adjustment | (207) | 219 | (79) |
Reclassification adjustment for net gain (loss) on AFS debt securities recognized in earnings | 0 | 0 | 232 |
Total other comprehensive income (loss) before income tax expense | 7,398 | (3,426) | (778) |
Tax effect | 1,579 | (720) | (347) |
Total other comprehensive income (loss), net of tax | 5,819 | (2,706) | (431) |
Comprehensive income | $ 71,886 | $ 52,811 | $ 37,612 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total | |
Balance (in shares) at Dec. 31, 2016 | 22,617 | |||||
Balance at Dec. 31, 2016 | $ 36,250 | $ 26,682 | $ 252,439 | $ (1,499) | $ 313,872 | |
Net income | 0 | 0 | 38,043 | 0 | 38,043 | |
Net change in accumulated other comprehensive income | 0 | 0 | 0 | (431) | (431) | |
Stock compensation expense | $ 0 | 2,892 | 0 | 0 | 2,892 | |
Stock issued for share-based awards, net of withholdings to satisfy employee tax obligations (in shares) | 69 | |||||
Stock issued for share-based awards, net of withholdings to satisfy employee tax obligations | $ 231 | 2,500 | (5,336) | 0 | (2,605) | |
Cash dividends declared | $ 0 | 0 | (18,127) | 0 | (18,127) | |
Shares repurchased or cancelled (in shares) | (7) | |||||
Shares repurchased or cancelled | $ (24) | (150) | 174 | 0 | 0 | |
Balance (in shares) at Dec. 31, 2017 | 22,679 | |||||
Balance at Dec. 31, 2017 | $ 36,457 | 31,924 | 267,193 | (1,930) | [1] | 333,644 |
Net income | 0 | 0 | 55,517 | 0 | 55,517 | |
Net change in accumulated other comprehensive income | 0 | 0 | 0 | (2,706) | (2,706) | |
Stock compensation expense | $ 0 | 4,027 | 0 | 0 | 4,027 | |
Stock issued for share-based awards, net of withholdings to satisfy employee tax obligations (in shares) | 75 | |||||
Stock issued for share-based awards, net of withholdings to satisfy employee tax obligations | $ 249 | 987 | (3,394) | 0 | (2,158) | |
Cash dividends declared | $ 0 | 0 | (21,824) | 0 | (21,824) | |
Shares repurchased or cancelled (in shares) | (5) | |||||
Shares repurchased or cancelled | $ (17) | (141) | 158 | 0 | 0 | |
Reclassification adjustment - ASU 2018-02 | $ 0 | 0 | 506 | (506) | 0 | |
Balance (in shares) at Dec. 31, 2018 | 22,749 | |||||
Balance at Dec. 31, 2018 | $ 36,689 | 36,797 | 298,156 | (5,142) | 366,500 | |
Net income | 0 | 0 | 66,067 | 0 | 66,067 | |
Net change in accumulated other comprehensive income | 0 | 0 | 0 | 5,819 | 5,819 | |
Stock compensation expense | $ 0 | 3,578 | 0 | 0 | 3,578 | |
Stock issued for share-based awards, net of withholdings to satisfy employee tax obligations (in shares) | 116 | |||||
Stock issued for share-based awards, net of withholdings to satisfy employee tax obligations | $ 385 | 3,701 | (7,010) | 0 | (2,924) | |
Cash dividends declared | $ 0 | 0 | (23,579) | 0 | (23,579) | |
Shares repurchased or cancelled (in shares) | (2) | |||||
Shares repurchased or cancelled | $ (6) | (59) | 65 | 0 | 0 | |
Repurchase of common stock (in shares) | (259) | |||||
Repurchase of common stock | $ (861) | (8,303) | 0 | 0 | (9,164) | |
Balance (in shares) at Dec. 31, 2019 | 22,604 | |||||
Balance at Dec. 31, 2019 | $ 36,207 | $ 35,714 | $ 333,699 | $ 677 | $ 406,297 | |
[1] | December 31, 2017 AOCI component balances reflect a correction of incorrectly reported year-end balances in the Footnote titled "Other Comprehensive Income (Loss)" of the 2017 Form 10-K, which were presented as $(2,278), $234, and $(392) for securities AFS, cash flow hedges, and minimum pension liability, respectively. |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Stockholders' Equity (Parentheticals) - $ / shares | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Retained Earnings [Member] | |||
Cash dividends declared (in dollars per share) | $ 1.04 | $ 0.96 | $ 0.80 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
Operating activities: | ||||
Net income | $ 66,067 | $ 55,517 | $ 38,043 | |
Adjustments to reconcile net income to net cash provided by operating activities: | ||||
Provision for loan and lease losses | 1,000 | 2,705 | 2,550 | |
Depreciation, amortization and accretion, net | 4,880 | 5,782 | 13,640 | |
Deferred income tax (benefit) expense | (5,852) | (268) | 3,971 | |
Loss on sale of securities available for sale | 0 | 0 | 232 | |
Gain on other investment activities | 0 | (113) | (92) | |
Gain on sales of mortgage loans held for sale | (1,907) | (1,443) | (1,989) | |
Origination of mortgage loans held for sale | (108,020) | (71,807) | (97,623) | |
Proceeds from sale of mortgage loans held for sale | 102,854 | 74,539 | 99,861 | |
Bank owned life insurance income | [1] | (1,031) | (1,129) | (1,159) |
Loss on the disposal of premises and equipment | 372 | 56 | 0 | |
Loss (gain) on the sale of other real estate owned | 7 | (102) | (39) | |
Stock compensation expense | 3,578 | 4,027 | 2,892 | |
Excess tax benefits from share-based compensation arrangements | (812) | (549) | (1,463) | |
Net change in accrued interest receivable and other assets | (2,786) | (582) | (13,848) | |
Net change in accrued interest payable and other liabilities | 85 | (744) | 8,700 | |
Net cash provided by operating activities | 58,436 | 65,889 | 53,676 | |
Investing activities: | ||||
Purchases of securities available for sale | (702,441) | (768,407) | (661,086) | |
Proceeds from sales of securities available for sale | 12,427 | 0 | 421 | |
Proceeds from maturities and paydowns of securities available for sale | 678,039 | 901,512 | 652,411 | |
Purchase of Federal Home Loan Bank stock | 0 | (2,724) | (2,254) | |
Proceeds from redemption of Federal Home Loan Bank stock | 591 | 0 | 955 | |
Proceeds from redemption of acquired Federal Reserve Bank stock | 490 | 0 | 0 | |
Proceeds from redemption of interest bearing due from banks | 1,761 | 0 | 0 | |
Net change in loans | (131,734) | (137,835) | (105,867) | |
Purchases of premises and equipment | (5,098) | (7,057) | (2,786) | |
Proceeds from sales of premises and equipment | 2,907 | 230 | 0 | |
Proceeds from surrender of acquired bank owned life insurance | 3,431 | 0 | 0 | |
Proceeds from bank owned life insurance mortality benefit | 1,878 | 0 | 977 | |
Other investment activities | (2,766) | (1,184) | 92 | |
Proceeds from sales of other real estate owned | 2,028 | 3,895 | 2,432 | |
Cash for acquisition, net of cash acquired | (24,686) | 0 | 0 | |
Net cash used in investing activities | (163,173) | (11,570) | (114,705) | |
Financing activities: | ||||
Net change in deposits | 213,913 | 216,061 | 57,747 | |
Net change in securities sold under agreements to repurchase and federal funds purchased | (5,125) | (185,484) | 116,856 | |
Proceeds from Federal Home Loan Bank advances | 120,000 | 120,000 | 120,000 | |
Repayments of Federal Home Loan Bank advances | (131,726) | (121,281) | (121,617) | |
Repayment of acquired bank holding company line of credit | (2,300) | 0 | 0 | |
Redemption of acquired bank subordinated debentures | (3,609) | 0 | 0 | |
Repurchase of common stock | (11,817) | (2,004) | (2,389) | |
Share repurchases related to compensation plans | (272) | (154) | (216) | |
Cash dividends paid | (23,542) | (21,766) | (18,077) | |
Net cash provided by financing activities | 155,522 | 5,372 | 152,304 | |
Net change in cash and cash equivalents | 50,785 | 59,691 | 91,275 | |
Cash and cash equivalents at beginning of period | 198,939 | 139,248 | 47,973 | |
Cash and cash equivalents at end of period | 249,724 | 198,939 | 139,248 | |
Supplemental cash flow information: | ||||
Income tax payments, net of refunds | 13,938 | 7,227 | 15,838 | |
Cash paid for interest | 22,666 | 14,827 | 7,158 | |
Supplemental non-cash activity: | ||||
Initial recognition of right-of-use lease assets | 16,747 | 0 | 0 | |
Initial recognition operating lease liabilities | 18,067 | 0 | 0 | |
Loans purchased and not settled | 0 | 4,992 | 0 | |
Transfers from loans to real estate acquired in settlement of loans | 1,160 | 2,170 | 0 | |
Fair value of assets acquired | 204,613 | 0 | 0 | |
Cash paid in acquisition | 28,000 | 0 | 0 | |
Liabilities assumed | $ 176,613 | $ 0 | $ 0 | |
[1] | Outside of the scope of ASC 606 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation and Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | ( 1 Principles of Consolidation and Nature of Operations – none. The Bank, chartered in 1904, 42 As a result of its acquisition of KSB on May 1, 2019, June, 2019. Bancorp is divided into two reportable segments: Commercial Banking and WM&T: Commercial Banking provides a full range of loan and deposit products to individual consumers and businesses in all its markets through retail lending, mortgage banking, deposit services, online banking, mobile banking, private banking, commercial lending, treasury management services, merchant services, international banking, correspondent banking and other banking services. The Bank also offers securities brokerage services via its banking center network through an arrangement with a third WM&T provides custom-tailored financial planning, investment management, retirement planning, trust and estate services in all markets in which Bancorp operates. The magnitude of WM&T revenue distinguishes Bancorp from other community banks of similar asset size. Basis of Financial Statement Presentation and Use of Estimates – Cash Equivalents and Cash Flows – Securities – may 1 2 not 3 not not not not not “Securities Available for Sale” Accounting for Business Acquisitions — 805, Business Combinations Identifiable assets acquired, liabilities assumed, and any non-controlling interest in acquirees are generally recognized at their acquisition-date (“day-one”) fair values based on the requirements of ASC Topic 820, one one one one one may one Acquisition related costs are expensed as incurred unless those costs are related to issuing debt or equity securities used to finance the acquisition. Mortgage Loans Held for Sale – Loans – 90 not No may not no not six Loans are classified as impaired when it is probable Bancorp will be unable to collect interest and principal according to terms of the loan agreement. These loans are measured at the estimated fair value of the loans’ collateral, if applicable, or on the present value of future cash flows discounted at the loans’ effective interest rate. Impaired loans consist of loans in non-accrual status and loans accounted for as TDRs. Loans purchased in a business acquisition are accounted for using one ● ASC Topic 310 20, Non Refundable Fees and Other Costs not one ● ASC Topic 310 30, 310 30, Allowance Bancorp’s allowance methodology is driven by risk ratings, historical losses, and qualitative factors. Assumptions include many factors such as changes in borrowers’ financial condition or historical loss ratios related to certain loan portfolios which may may not Consistent with Bancorp’s methodology, the historical look-back period was extended from 32 36 first 2019 not first 2019. Bancorp’s allowance calculation includes allocations to loan portfolio segments for qualitative factors including, among other factors, local economic and business conditions, the quality and experience of lending staff and management, exceptions to lending policies, levels of and trends in past due loans and loan classifications, concentrations of credit such as collateral type, trends in portfolio growth, trends in the value of underlying collateral for collateral-dependent loans, effect of other external factors such as the national economic and business trends, and the quality and depth of the loan review function. Bancorp utilizes the sum of all allowance amounts derived as described above as the appropriate level of allowance. Changes in the criteria used in this evaluation or the availability of new information could cause the allowance to be increased or decreased in future periods. Based on this quantitative and qualitative analysis, provisions, or reductions are made to the allowance. Such provisions or reductions are reflected as a charge against or benefit to current earnings in Bancorp’s consolidated statements of income. The adequacy of the allowance is monitored by executive management and reported quarterly to the Audit Committee of the Board of Directors. This committee has approved the overall methodology. Various regulatory agencies, as an integral part of their examination process, periodically review the adequacy of Bancorp’s allowance. Such agencies may The accounting policy related to the allowance is applicable to the Commercial Banking segment of Bancorp. Premises and Equipment FHLB Stock may Goodwill and Other Intangible Assets not Bancorp has selected September 30th All goodwill is attributable to the Commercial Banking segment with the KSB portion expected to be deductible for tax purposes. Based on its assessment, Bancorp believes its goodwill balance at December 31, 2019 2018 not Other intangible assets consist of CDI assets arising from business acquisitions. CDI assets are initially measured at fair value and then amortized on an accelerated method over their estimated useful lives. Other Assets OREO is carried at the lower of cost or estimated fair value minus estimated selling costs. Any write downs to fair value at the date of acquisition are charged to the allowance. In certain situations, improvements to prepare assets for sale are capitalized if those costs increase the estimated fair value of the asset. Expenses incurred in maintaining assets, write downs to reflect subsequent declines in value, and realized gains or losses are reflected in operations and are included in non-interest income and expense. MSRs are amortized in proportion to and over the period of estimated net servicing income, considering appropriate prepayment assumptions and are evaluated quarterly for impairment by comparing the carrying value to fair value. Off Balance Sheet Financial Instruments Derivatives For derivatives designated as cash flow hedges, the effective portion of changes in fair value of the derivative is initially reported in OCI and subsequently reclassified to interest income or expense when the hedged transaction affects earnings, while the ineffective portion of changes in fair value of derivative, if any, is recognized immediately in other noninterest income. Bancorp assesses effectiveness of each hedging relationship by comparing cumulative changes in cash flows of the derivative hedging instrument with cumulative changes in cash flows of the designated hedged item or transaction. No Periodically, Bancorp enters into an interest rate swap transaction with a borrower, who desires to hedge exposure to rising interest rates, while at the same time entering into an offsetting interest rate swap, with substantially matching terms, with another approved independent counterparty. Because of matching terms of offsetting contracts and collateral provisions mitigating any non-performance risk, changes in fair value subsequent to initial recognition have an insignificant effect on earnings. Because these derivative instruments have not Bancorp had no December 31, 2019 2018. not Derivative Financial Instruments Transfers of Financial Assets — not Stock-Based Compensation — Income Taxes A tax position is recognized as a benefit only if it is “more-likely-than- not” 50% not not” no Bancorp recognizes interest and/or penalties related to income tax matters in income tax expense. Bancorp periodically invests in certain partnerships with customers that yield historic tax credits, which are accounted for using the flow through method, which approximates the equity method, and/or low-income housing tax credits as well as tax deductible losses, which are accounted for using the effective yield method for older transactions or proportional amortization method for more recent transactions. The tax benefit of these investments exceeds amortization expense associated with them, resulting in a positive impact on net income. Net Income per Share — Comprehensive Income — Loss Contingencies not Restrictions on Cash and Cash Equivalents December 31, 2019. Dividend Restrictions may Fair Value of Financial Instru ments Assets and Liabilities Measured and Reported at Fair Value” Revenue from contracts with Customers January 1, 2018, 2014 09, Revenue from Contracts with Customers 606” not not 606. 606 Segment Information 42 December 31, 2019. two Reclassifications no A ccounting Standards Updates Issued ASU. No. Topic Nature of Update Date Adopted Method of Adoption Financial Statement Impact 2016 13 Financial Instruments - Credit Losses (Topic 326 Amends guidance on reporting credit losses for assets held at amortized-cost basis and available-for-sale debt securities. January 1, 2020 Modified-retrospective approach ASU 2016 13 January 1, 2020 no December 2018 three not 2019 04 Codification Improvements to Topic 326, 815, 825, Clarifies and improves areas of guidance related to the recently issued standards on credit losses, hedging, and recognition and measurement. Based on areas amended Based on areas amended Immaterial 2019 05 Financial Instruments - Credit Losses (Topic 326 Provides the fair value option for certain instruments within the scope of Subtopic 326 20 January 1, 2020 Modified-retrospective approach Immaterial 2019 11 Financial Instruments - Credit Losses (Topic 326 Affects narrow aspects of the guidance issued in ASU 2016 13 January 1, 2020 Conformed to the adoption of ASU 2016 13 Immaterial Accounting Standards Updates Issued (continued) ASU. No. Topic Nature of Update Date Adopted Method of Adoption Financial Statement Impact 2019 01 Lease (Topic 842 Aligns fair value guidance for certain lessors with that of existing guidance (Issue 1 942, 2 3 Issue 1 2 January 1, 2020; 3 January 1, 2019 Prospectively Immaterial 2019 07 Codification Updates to SEC Sections Amends certain SEC sections within the FASB Codification to update and simplify disclosure. Upon adoption of the FASB codification NA Immaterial 2019 12 Income Taxes (Topic 7400 Includes several narrow focused simplifications. January 1, 2020 Modified-retrospective approach Immaterial Accounting Standards Updates Adopted in 2019 ASU. No. Topic Nature of Update Date Adopted Method of Adoption Financial Statement Impact 2016 02 Leases (Topic 842 Most leases are considered operating leases, which are not January 1, 2019 Modified-retrospective approach, which includes a number of optional practical expedients Bancorp adopted on January 1, 2019 not not 6 2018 10 Codification Improvements to Leases (Topic 842 Affects narrow aspects of the guidance issued in ASU 2016 02 January 1, 2019 Conformed to the adoption of ASU 2016 02 See Footnote 6 2018 11 Targeted Improvements to Leases (Topic 842 Provides an additional (and optional) transition method to adopt ASU 2016 02 not January 1, 2019 Conformed to the adoption of ASU 2016 02 Immaterial 2017 12 Derivatives and Hedging (Topic 815 The amendments in this ASU make certain targeted improvements to simplify the application of hedge accounting. January 1, 2019 Prospectively Immaterial |
Note 2 - Restrictions on Cash a
Note 2 - Restrictions on Cash and Due From Banks | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Restrictions on Cash and Due from Banks Disclosure [Text Block] | ( 2 At December 31, 2019 2018, $250,000 December 31, 2019 2018, not December 31, 2019 2018, |
Note 3 - Acquisition of KSB
Note 3 - Acquisition of KSB | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | ( 3 KSB On May 1, 2019, The following table provides a summary of the assets acquired and liabilities assumed as recorded by KSB, the previously reported preliminary fair value adjustments necessary to adjust those acquired assets and assumed liabilities to fair value, recast adjustments to those previously reported preliminary fair values, and the fair values of those assets and liabilities as recorded by Bancorp. As provided for under GAAP, management has up to 12 may May 1, 2019 As Recorded Fair Value Recast As Recorded (in thousands) by King Adjustments (1) Adjustments (1) by Bancorp Assets acquired: Cash and due from banks $ 3,316 $ — $ — $ 3,316 Interest bearing due from banks 1,761 — — 1,761 Securities available for sale 12,404 23 a — 12,427 Federal Home Loan Bank stock, at cost 1,517 — — 1,517 Federal Reserve Bank stock, at cost 490 — — 490 Loans 165,744 (1,597 ) b (118 ) b 164,029 Allowance for loan losses (1,812 ) 1,812 b — — Net loans 163,932 215 (118 ) 164,029 Premises and equipment, net 4,358 (1,328 ) c 431 c 3,461 Bank owned life insurance 3,431 — — 3,431 Core deposit intangible — 1,519 d — 1,519 Other real estate owned 325 (325 ) e — — Other assets and accrued interest receivable 867 (36 ) f — 831 Total assets acquired $ 192,401 $ 68 $ 313 $ 192,782 Liabilities assumed: Deposits Non-interest bearing $ 24,939 $ — $ — $ 24,939 Interest bearing 100,839 (252 ) g — 100,587 Total deposits 125,778 (252 ) — 125,526 Federal funds purchased 1,566 — — 1,566 Federal Home Loan Bank advances 43,718 (419 ) h — 43,299 Subordinated Note 3,609 — — 3,609 Holding Company line of credit 2,300 — — 2,300 Other liabilities and accrued interest payable 313 — — 313 Total liabilities assumed 177,284 (671 ) — 176,613 Net assets acquired $ 15,117 $ 739 $ 313 $ 16,169 Cash consideration paid (28,000 ) Goodwill $ 11,831 ( 1 Bancorp’s acquisition of KSB closed on May 1, 2019. May 1, 2019 December 31 , 2019. may Explanation of preliminary fair value adjustments: a. Reflects the fair value adjustment based on Bancorp’s evaluation of the acquired investment portfolio. b. Reflects the fair value adjustment based on Bancorp’s evaluation of the acquired loan portfolio and to eliminate KSB’s recorded allowance. c. Reflects the fair value adjustment based on Bancorp’s evaluation of the premises and equipment acquired. d. Reflects the fair value adjustment for the core deposit intangible asset recorded as a result of the acquisition. e. Reflects the fair value adjustment based upon Bancorp’s evaluation of the foreclosed real estate acquired. f. Reflects the write-off of a miscellaneous other asset. g. Reflects the fair value adjustment based on Bancorp’s evaluation of the assumed time deposits. h. Reflects the fair value adjustment based upon Bancorp’s evaluation of the assumed FHLB advances. Goodwill of approximately $12 million, which is the excess of the acquisition consideration over the fair value of net assets acquired, was recorded in the KSB acquisition as the result of expected operational synergies and other factors. This goodwill is attributable to Bancorp’s Commercial Banking segment and is expected to be deductible for tax purposes. To the extent that management revises any of the above fair value adjustments as a result of its continuing evaluation, the amount of goodwill recorded will change. Based upon the proximity to existing branch locations, Bancorp closed and ultimately sold three 2019, Prior year pro-forma financial statements are not December 31, 2019. |
Note 4 - Securities Available f
Note 4 - Securities Available for Sale | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | ( 4 All of Bancorp’s securities are classified as AFS. Amortized cost, unrealized gains and losses, and fair value of these securities follow: (in thousands) Amortized Unrealized December 31, 2019 cost Gains Losses Fair value U.S. Treasury and other U.S. government obligations $ 49,887 $ 10 $ - $ 49,897 Government sponsored enterprise obligations 208,933 1,189 (178 ) 209,944 Mortgage backed securities - government agencies 193,574 1,243 (956 ) 193,861 Obligations of states and political subdivisions 16,919 117 — 17,036 Total securities available for sale $ 469,313 $ 2,559 $ (1,134 ) $ 470,738 December 31, 2018 Government sponsored enterprise obligations $ 264,234 $ 156 $ (3,351 ) $ 261,039 Mortgage backed securities - government agencies 149,748 282 (3,753 ) 146,277 Obligations of states and political subdivisions 29,760 107 (188 ) 29,679 Total securities available for sale $ 443,742 $ 545 $ (7,292 ) $ 436,995 At December 31, 2019 2018, no one 10% There were no gains or losses on sales or calls of securities for the years ended December 31, 2019 2018. 2017, Securities acquired from KSB, totaling $12 million, were sold immediately following the acquisition with no gain or loss realized in the income statement. A summary of securities AFS by contractual maturity follows: (in thousands) Amortized cost Fair value Due within 1 year $ 129,251 $ 129,311 Due after 1 year but within 5 years 32,124 32,208 Due after 5 years but within 10 years 6,162 6,219 Due after 10 years 108,202 109,139 Mortgage backed securities - government agencies 193,574 193,861 Total securities available for sale $ 469,313 $ 470,738 Actual maturities may may Securities with a carrying value of $403 million and $355 million were pledged at December 31, 2019 2018, Securities with unrealized losses at December 31, 2019 2018, Less than 12 months 12 months or more Total (in thousands) Fair Unrealized Fair Unrealized Fair Unrealized December 31, 2019 value losses value losses value losses Government sponsored enterprise obligations $ 16,503 $ (107 ) $ 11,492 $ (71 ) $ 27,995 $ (178 ) Mortgage-backed securities - government agencies 81,664 (496 ) 32,453 (460 ) 114,117 (956 ) Total temporarily impaired securities $ 98,167 $ (603 ) $ 43,945 $ (531 ) $ 142,112 $ (1,134 ) December 31, 2018 Government sponsored enterprise obligations $ 96,740 $ (38 ) $ 149,320 $ (3,313 ) $ 246,060 $ (3,351 ) Mortgage-backed securities - government agencies 3,108 (5 ) 120,848 (3,748 ) 123,956 (3,753 ) Obligations of states and political subdivisions 814 (1 ) 17,639 (187 ) 18,453 (188 ) Total temporarily impaired securities $ 100,662 $ (44 ) $ 287,807 $ (7,248 ) $ 388,469 $ (7,292 ) Applicable dates for determining when securities are in an unrealized loss position are December 31, 2019 2018. twelve not 12 Investment securities are evaluated for OTTI on at least a quarterly basis and more frequently when economic or market conditions warrant such an evaluation to determine whether a decline in value below amortized cost is other-than-temporary. The term “other-than-temporary” is not not Unrealized losses on Bancorp’s investment securities portfolio have not December 31, 2019 2018. not not may not December 31, 2019. FHLB stock represents an investment held by Bancorp which is not September 30th. No not |
Note 5 - Loans
Note 5 - Loans | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | ( 5 Composition of loans by primary loan portfolio class follows: December 31, (in thousands) 2019 2018 Commercial and industrial $ 870,511 $ 833,524 Construction and development, excluding undeveloped land(1) 213,822 225,050 Undeveloped land 46,360 30,092 Real estate mortgage: Commercial investment 736,618 588,610 Owner occupied commercial 473,783 426,373 1-4 family residential 334,358 276,017 Home equity - first lien 48,620 49,500 Home equity - junior lien 73,477 70,947 Subtotal: Real estate mortgage 1,666,856 1,411,447 Consumer 47,467 48,058 Total loans(2) $ 2,845,016 $ 2,548,171 ( 1 no ( 2 Fees and costs of originating loans are deferred at origination and amortized over the life of the loan. Loan balances reported herein include deferred loan origination fees, net of deferred loan costs. At December 31, 2019 2018, Bancorp’s credit exposure is diversified with secured and unsecured loans to individuals and businesses. No 10% Bancorp occasionally enters into loan participation agreements with other banks in the ordinary course of business to diversify credit risk. For certain sold participation loans, Bancorp has retained effective control of the loans, typically by restricting the participating institutions from pledging or selling their share of the loan without permission from Bancorp. GAAP requires the participated portion of these loans to be recorded as secured borrowings. The participated portions of these loans are included in the C&I totals above with a corresponding liability reflected in other liabilities. At December 31, 2019 2018, Loans to directors and their related interests, including loans to companies for which directors are principal owners and executive officers are presented in the following table. Years ended December 31, (in thousands) 2019 2018 Balance as of January 1 $ 52,687 $ 629 Effect of change in composition of directors and executive officers — 51,415 Repayment of term loans (184 ) — Changes in balances of revolving lines of credit (9,279 ) 643 Balance as of December 31 $ 43,224 $ 52,687 Loans totaling $0 and $500,000 to directors and executive officers were past due as of December 31, 2019 2018. The following table summarizes loans acquired in Bancorp’s May 1, 2019 December 31, 2019. May 1, 2019 Contractual Non-accretable Accretable Acquisition-day (in thousands) receivable amount amount fair value Commercial and industrial $ 8,249 $ — $ (23 ) $ 8,226 Construction and development 10,764 — 43 10,807 Raw Land 7,974 — 43 8,017 Real estate mortgage: Commercial real estate 84,219 — (456 ) 83,763 1-4 family residential 50,556 — 322 50,878 Home equity - first lien 196 — 3 199 Home equity - junior lien 679 — 5 684 Subtotal: Real estate mortgage 135,650 — (126 ) 135,524 Consumer 1,528 — (73 ) 1,455 Total loans ASC 310-20 164,165 — (136 ) 164,029 Commercial and industrial Construction and development — — — — Raw Land — — — — Real estate mortgage: Commercial real estate 1,351 (1,351 ) — — 1-4 family residential 228 (228 ) — — Home equity - first lien — — — — Home equity - junior lien — — — — Subtotal: Real estate mortgage 1,579 (1,579 ) — — Consumer — — — — Total loans ASC 310 purchased- credit-impaired loans 1,579 (1,579 ) — — Total loans $ 165,744 $ (1,579 ) $ (136 ) $ 164,029 PCI Loans The Bank acquired PCI loans on May 1, 2019 2013 310 30, Loans and Debt Securities Acquired with Deteriorated Credit Quality 12 Management utilized the following criteria in determining which loans were classified as PCI loans for its KSB acquisition: ● Loans classified by management as substandard, doubtful or loss ● Loans classified as non-accrual when acquired ● Loans past due 90 ● Loans for which management assigned a non-accretable mark The following table presents loans acquired during 2019 not December 31, (in thousands) 2019 Contractually-required principal $ 1,579 Non-accretable amount (1,579 ) Accretable amount — Carrying value of loans $ - The following table presents a rollforward of the accretable amount on all PCI loans: Years ended December 31, (in thousands) 2019 2018 Balance, beginning of period $ (69 ) $ (106 ) Transfers between non-accretable and accretable — — Net accretion into interest income on loans, including loan fees 69 37 Balance, end of period $ - $ (69 ) Credit Quality Indicators Consistent with regulatory guidance, Bancorp categorizes loans into credit 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. Pass-rated loans included all risk-rated loans other than those classified as OAEM, substandard, and doubtful, which are defined below: ● OAEM: Loans classified as OAEM have potential weaknesses requiring management's heightened attention. These potential weaknesses may ● Substandard: Loans classified as substandard are inadequately protected by the paying capacity of the obligor or of collateral pledged, if any. Loans so classified have well-defined weaknesses that jeopardize ultimate repayment of the debt. Default is a distinct possibility if the deficiencies are not ● Substandard non-performing: Loans classified as substandard non-performing have all the characteristics of substandard loans and have been placed on non-accrual status or have been accounted for as TDRs. Loans are placed on non-accrual status when prospects for recovering both principal and accrued interest are considered doubtful or when a default of principal or interest has existed for 90 ● Doubtful: Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or repayment in full, on the basis of currently existing facts, conditions and values, highly questionable and improbable. Internally assigned risk grades of loans by loan portfolio class classification category follows: (in thousands) Substandard Total December 31, 2019 Pass OAEM Substandard Non-performing Doubtful Loans Commercial and industrial $ 840,105 $ 704 $ 21,500 $ 8,202 $ — $ 870,511 Construction and development, excluding undeveloped land 213,822 — — — — 213,822 Undeveloped land 46,360 — — — — 46,360 Real estate mortgage: Commercial investment 722,747 6,459 6,275 1,137 — 736,618 Owner occupied commercial 460,981 1,375 9,050 2,377 — 473,783 1-4 family residential 332,294 1,701 122 241 — 334,358 Home equity - first lien 48,620 — — — — 48,620 Home equity - junior lien 73,273 — 17 187 — 73,477 Subtotal: Real estate mortgage 1,637,915 9,535 15,464 3,942 — 1,666,856 Consumer 47,429 — 38 — — 47,467 Total $ 2,785,631 $ 10,239 $ 37,002 $ 12,144 $ — $ 2,845,016 (in thousands) Substandard Total December 31, 2018 Pass OAEM Substandard Non-performing Doubtful Loans Commercial and industrial $ 803,073 $ 11,516 $ 18,703 $ 232 $ — $ 833,524 Construction and development, excluding undeveloped land 220,532 4,200 — 318 — 225,050 Undeveloped land 29,618 — — 474 — 30,092 Real estate mortgage: Commercial investment 586,543 1,815 15 237 — 588,610 Owner occupied commercial 411,722 9,030 4,500 1,121 — 426,373 1-4 family residential 273,537 1,544 162 774 — 276,017 Home equity - first lien 49,500 — — — — 49,500 Home equity - junior lien 70,437 249 19 242 — 70,947 Subtotal: Real estate mortgage 1,391,739 12,638 4,696 2,374 — 1,411,447 Consumer 48,058 — — — — 48,058 Total $ 2,493,020 $ 28,354 $ 23,399 $ 3,398 $ — $ 2,548,171 The following tables present the activity in the allowance by loan portfolio class: Type of loan Construction and development, Commercial excluding and undeveloped Undeveloped Real estate (in thousands) industrial land land mortgage Consumer Total Balance, January 1, 2019 $ 11,965 $ 1,760 $ 752 $ 10,681 $ 376 $ 25,534 Provision (credit) 684 (644 ) 34 1,021 (95 ) 1,000 Charge-offs (94 ) — — (38 ) (552 ) (684 ) Recoveries 267 203 — 100 371 941 Balance, December 31, 2019 $ 12,822 $ 1,319 $ 786 $ 11,764 $ 100 $ 26,791 Type of loan Construction and development, Commercial excluding and undeveloped Undeveloped Real estate (in thousands) industrial land land mortgage Consumer Total Balance, January 1, 2018 $ 11,276 $ 1,724 $ 521 $ 11,012 $ 352 $ 24,885 Provision (credit) 2,539 36 231 (261 ) 160 2,705 Charge-offs (2,404 ) — — (132 ) (476 ) (3,012 ) Recoveries 554 — — 62 340 956 Balance, December 31, 2018 $ 11,965 $ 1,760 $ 752 $ 10,681 $ 376 $ 25,534 Type of loan Construction and development, Commercial excluding and undeveloped Undeveloped Real estate (in thousands) industrial land land mortgage Consumer Total Balance, January 1, 2017 $ 10,483 $ 1,923 $ 684 $ 10,573 $ 344 $ 24,007 Provision (credit) 2,373 (199 ) (163 ) 383 156 2,550 Charge-offs (1,782 ) — — (98 ) (549 ) (2,429 ) Recoveries 202 — — 154 401 757 Balance, December 31, 2017 $ 11,276 $ 1,724 $ 521 $ 11,012 $ 352 $ 24,885 The considerations by Bancorp in computing its allowance are determined based on the various risk characteristics of each loan segment. Relevant risk characteristics are as follows: ● C&I: Loans in this category are made to businesses. Generally these loans are secured by assets of the business and repayment is expected from cash flows of the business. A decline in the strength of the business or a weakened economy and decreased consumer and/or business spending may ● C&D, excluding undeveloped land: Loans in this category primarily include owner-occupied and investment C&D loans and commercial development projects. In most cases, C&D loans require only interest to be paid during the construction period. Upon completion or stabilization, C&D loans generally convert to permanent financing in the real estate mortgage segment, requiring principal amortization. Repayment of development loans is derived from sale of lots or units. Credit risk is affected by construction delays, cost overruns, market conditions and availability of permanent financing; to the extent such permanent financing is not ● Undeveloped land: Loans in this category are secured by land acquired for development by the borrower, but for which no not ● Real estate mortgage: Loans in this category are made to and secured by owner-occupied residential real estate, owner-occupied real estate used for business purposes, and income-producing investment properties. Underlying properties are generally located in Bancorp's primary market areas. For owner occupied residential and owner-occupied CRE, repayment is dependent on financial strength of the borrower. A decline in the strength of the business, weakened economy, unemployment, decreased consumer and/or business spending and real estate prices may may ● Consumer: Loans in this category may The following table presents the recorded investment in non-accrual and loans past due 90 Past Due 90-Days-or-More Non-accrual and Still Accruing Interest (in thousands) December 31, 2019 December 31, 2018 December 31, 2019 December 31, 2018 Commercial and industrial $ 8,202 $ 192 $ — $ 12 Construction and development, excluding undeveloped land — 318 — — Undeveloped land — 474 — — Real estate mortgage: Commercial investment 740 138 396 99 Owner occupied commercial 2,278 586 — 535 1-4 family residential 123 760 104 — Home equity - first lien — — — — Home equity - junior lien 151 143 35 99 Subtotal: Real estate mortgage 3,292 1,627 535 733 Consumer — — — — Total loans $ 11,494 $ 2,611 $ 535 $ 745 In the course of working with borrowers, Bancorp may not not December 31, 2019 2018. December 31, 2019 December 31, 2018 Specific Additional Specific Additional reserve commitment reserve commitment (in thousands) Balance allocation to lend Balance allocation to lend Commercial and industrial $ 21 $ 21 $ — $ 28 $ 28 $ — 1-4 family residential 13 13 — 14 14 — Total TDRs $ 34 $ 34 $ — $ 42 $ 42 $ — Impaired loans include non-accrual loans and loans past due 90 As of December 31, 2019 1 4 December 31, 2018. The following tables present the balance in the recorded investment in loans and by portfolio loan class and based on impairment evaluation method: (in thousands) Loans Allowance December 31, 2019 Loans individually evaluated for impairment Loans collectively evaluated for impairment Loans acquired with deteriorated credit quality Total loans Loans individually evaluated for impairment Loans collectively evaluated for impairment Loans acquired with deteriorated credit quality Total allowance Commercial and industrial $ 8,223 $ 862,288 $ — $ 870,511 $ 1,150 $ 11,672 $ — $ 12,822 Construction and development, excluding undeveloped land — 213,822 — 213,822 — 1,319 — 1,319 Undeveloped land — 46,360 — 46,360 — 786 — 786 Real estate mortgage 3,307 1,663,549 — 1,666,856 13 11,751 — 11,764 Consumer — 47,467 — 47,467 — 100 — 100 Total $ 11,530 $ 2,833,486 $ — $ 2,845,016 $ 1,163 $ 25,628 $ — $ 26,791 (in thousands) Loans Allowance December 31, 2018 Loans individually evaluated for impairment Loans collectively evaluated for impairment Loans acquired with deteriorated credit quality Total loans Loans individually evaluated for impairment Loans collectively evaluated for impairment Loans acquired with deteriorated credit quality Total allowance Commercial and industrial $ 220 $ 833,304 $ — $ 833,524 $ 28 $ 11,937 $ — $ 11,965 Construction and development, excluding undeveloped land 318 224,732 — 225,050 — 1,760 — 1,760 Undeveloped land 474 29,618 — 30,092 — 752 — 752 Real estate mortgage 1,641 1,409,806 — 1,411,447 14 10,667 — 10,681 Consumer — 48,058 — 48,058 — 376 — 376 Total $ 2,653 $ 2,545,518 $ — $ 2,548,171 $ 42 $ 25,492 $ — $ 25,534 The following table’s present loans individually evaluated for impairment by loan portfolio class: As of Twelve Months Ended December 31, 2019 December 31, 2019 Unpaid Average Interest Recorded principal Related recorded income (in thousands) investment balance allowance investment recognized Impaired loans with no related allowance: Commercial and industrial $ 174 $ 174 $ — $ 166 $ — Construction and development, excluding undeveloped land — — — 64 — Undeveloped land — — — 95 — Real estate mortgage Commercial investment 741 741 — 448 — Owner occupied commercial 2,278 2,736 — 1,437 — 1-4 family residential 124 124 — 516 — Home equity - first lien — — — — — Home equity - junior lien 151 151 — 293 — Subtotal: Real estate mortgage 3,294 3,752 — 2,694 — Consumer — — — — — Subtotal $ 3,468 $ 3,926 $ — $ 3,019 $ — Impaired loans with an allowance: Commercial and industrial $ 8,049 $ 8,049 $ 1,150 $ 1,631 $ — Construction and development, excluding undeveloped land — — — — — Undeveloped land — — — — — Real estate mortgage Commercial investment — — — — — Owner occupied commercial — — — — — 1-4 family residential 13 13 13 13 — Home equity - first lien — — — — — Home equity - junior lien — — — — — Subtotal: Real estate mortgage 13 13 13 13 — Consumer — — — — — Subtotal $ 8,062 $ 8,062 $ 1,163 $ 1,644 $ — Total: Commercial and industrial $ 8,223 $ 8,223 $ 1,150 $ 1,797 $ — Construction and development, excluding undeveloped land — — — 64 — Undeveloped land — — — 95 — Real estate mortgage Commercial investment 741 741 — 448 — Owner occupied commercial 2,278 2,736 — 1,437 — 1-4 family residential 137 137 13 529 — Home equity - first lien — — — — — Home equity - junior lien 151 151 — 293 — Subtotal: Real estate mortgage 3,307 3,765 13 2,707 — Consumer — — — — — Total impaired loans $ 11,530 $ 11,988 $ 1,163 $ 4,663 $ — As of Twelve Months Ended December 31, 2018 December 31, 2018 Unpaid Average Interest Recorded principal Related recorded income (in thousands) investment balance allowance investment recognized Impaired loans with no related allowance: Commercial and industrial $ 192 $ 707 $ — $ 161 $ — Construction and development, excluding undeveloped land 318 489 — 437 — Undeveloped land 474 506 — 474 — Real estate mortgage Commercial investment 138 138 — 35 — Owner occupied commercial 586 1,023 — 1,503 — 1-4 family residential 760 760 — 1,242 — Home equity - first lien — — — — — Home equity - junior lien 143 143 — 73 — Subtotal: Real estate mortgage 1,627 2,064 — 2,853 — Consumer — — — 23 — Subtotal $ 2,611 $ 3,766 $ — $ 3,948 $ — Impaired loans with an allowance: Commercial and industrial $ 28 $ 28 $ 28 $ 1,851 $ 2 Construction and development, excluding undeveloped land — — — — — Undeveloped land — — — 24 — Real estate mortgage Commercial investment — — — — — Owner occupied commercial — — — 897 — 1-4 family residential 14 14 14 14 1 Home equity - first lien — — — — — Home equity - junior lien — — — — — Subtotal: Real estate mortgage 14 14 14 911 1 Consumer — — — — — Subtotal $ 42 $ 42 $ 42 $ 2,786 $ 3 Total: Commercial and industrial $ 220 $ 735 $ 28 $ 2,012 $ 2 Construction and development, excluding undeveloped land 318 489 — 437 — Undeveloped land 474 506 — 498 — Real estate mortgage Commercial investment 138 138 — 35 — Owner occupied commercial 586 1,023 — 2,400 — 1-4 family residential 774 774 14 1,256 1 Home equity - first lien — — — — — Home equity - junior lien 143 143 — 73 — Subtotal: Real estate mortgage 1,641 2,078 14 3,764 1 Consumer — — — 23 — Total impaired loans $ 2,653 $ 3,808 $ 42 $ 6,734 $ 3 As of Twelve Months Ended December 31, 2017 December 31, 2017 Unpaid Average Interest Recorded principal Related recorded income (in thousands) investment balance allowance investment recognized Impaired loans with no related allowance: Commercial and industrial $ 1,142 $ 2,202 $ — $ 411 $ — Construction and development, excluding undeveloped land 664 834 — 559 — Undeveloped land 474 506 — 425 — Real estate mortgage Commercial investment 52 53 — 110 — Owner occupied commercial 3,332 3,789 — 1,678 — 1-4 family residential 1,637 1,657 — 935 — Home equity - first lien — — — — — Home equity - junior lien 31 31 — 186 — Subtotal: Real estate mortgage 5,052 5,530 — 2,909 — Consumer — — — — — Subtotal $ 7,332 $ 9,072 $ — $ 4,304 $ — Impaired loans with an allowance: Commercial and industrial $ 34 $ 34 $ 34 $ 1,882 $ 78 Construction and development, excluding undeveloped land — — — — — Undeveloped land — — — 48 — Real estate mortgage Commercial investment — — — — — Owner occupied commercial — — — — — 1-4 family residential 14 14 14 5 — Home equity - first lien — — — — — Home equity - junior lien — — — — — Subtotal: Real estate mortgage 14 14 14 5 — Consumer — — — 46 — Subtotal $ 48 $ 48 $ 48 $ 1,981 $ 78 Total: Commercial and industrial $ 1,176 $ 2,236 $ 34 $ 2,293 $ 78 Construction and development, excluding undeveloped land 664 834 — 559 — Undeveloped land 474 506 — 473 — Real estate mortgage Commercial investment 52 53 — 110 — Owner occupied commercial 3,332 3,789 — 1,678 — 1-4 family residential 1,651 1,671 14 940 — Home equity - first lien — — — — — Home equity - junior lien 31 31 — 186 — Subtotal: Real estate mortgage 5,066 5,544 14 2,914 — Consumer — — — 46 — Total impaired loans $ 7,380 $ 9,120 $ 48 $ 6,285 $ 78 Differences between recorded investment amounts and unpaid principal balance amounts less related allowance are due to partial charge-offs which have occurred over the lives of certain loans. Interest paid on impaired or non-accrual loans that was used to reduce principal was $552,000, $93,000 and $338,000 in 2019, 2018 2017. 2019, 2018 2017. 2019, 2018, 2017. The following table presents the aging of the recorded investment in loans by portfolio class: 90 or More Days Past Due (in thousands) 30-59 Days 60-89 days (includes all Total Total December 31, 2019 Current Past Due Past Due non-accrual) Past Due Loans Commercial and industrial $ 861,860 $ 253 $ 194 $ 8,204 $ 8,651 $ 870,511 Construction and development, excluding undeveloped land 213,766 6 50 — 56 213,822 Undeveloped land 46,360 — — — — 46,360 Real estate mortgage: Commercial investment 735,387 94 — 1,137 1,231 736,618 Owner occupied commercial 470,951 467 86 2,279 2,832 473,783 1-4 family residential 332,718 1,368 33 239 1,640 334,358 Home equity - first lien 48,441 179 — — 179 48,620 Home equity - junior lien 72,995 196 100 186 482 73,477 Subtotal: Real estate mortgage 1,660,492 2,304 219 3,841 6,364 1,666,856 Consumer 47,379 84 4 — 88 47,467 Total $ 2,829,857 $ 2,647 $ 467 $ 12,045 $ 15,159 $ 2,845,016 90 or More Days Past Due (in thousands) 30-59 Days 60-89 days (includes all Total Total December 31, 2018 Current Past Due Past Due non-accrual) Past Due Loans Commercial and industrial $ 832,923 $ 197 $ 200 $ 204 $ 601 $ 833,524 Construction and development, excluding undeveloped land 224,732 — — 318 318 225,050 Undeveloped land 29,552 66 — 474 540 30,092 Real estate mortgage: Commercial investment 586,884 1,382 107 237 1,726 588,610 Owner occupied commercial 421,143 2,732 1,377 1,121 5,230 426,373 1-4 family residential 274,547 374 336 760 1,470 276,017 Home equity - first lien 49,321 179 — — 179 49,500 Home equity - junior lien 70,467 182 56 242 480 70,947 Subtotal: Real estate mortgage 1,402,362 4,849 1,876 2,360 9,085 1,411,447 Consumer 48,058 — — — — 48,058 Total $ 2,537,627 $ 5,112 $ 2,076 $ 3,356 $ 10,544 $ 2,548,171 |
Note 6 - Premises and Equipment
Note 6 - Premises and Equipment | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | ( 6 A summary of premises and equipment follows: December 31, (in thousands) 2019 2018 Land $ 10,241 $ 9,664 Buildings and improvements 50,809 47,726 Furniture and equipment 22,032 21,793 Construction in progress 623 1,051 Right-of-use operating lease asset 12,737 - 96,442 80,234 Accumulated depreciation and amortization (37,824 ) (35,470 ) Total premises and equipment $ 58,618 $ 44,764 Depreciation expense related to premises and equipment was $4.2 million in 2019, 2018 2017. Bancorp acquired five May 1, 2019 three 2019, The right-of-use lease asset and operating lease liability were recorded in premises and equipment and other liabilities on the consolidated balance sheet upon the adoption of ASU 2016 02, Leases first 2019. Bancorp has operating leases for various branch locations with terms remaining from three 14 five 12 not Balance sheet, income statement, and cash flow detail regarding operating leases follows: (dollars in thousands) December 31, 2019 Balance Sheet Operating lease right-of-use asset $ 12,737 Operating lease liability 14,369 Weighted average remaining lease term 9.38 Weighted average discount rate 2.46 % Maturities of lease liabilities: One year or less $ 1,964 Year 2 1,915 Year 3 1,930 Year 4 1,972 Year 5 1,781 Greater than 5 years 6,619 Total lease payments $ 16,181 Less imputed interest 1,812 Total $ 14,369 Year Ended (In thousands) December 31, 2019 Income Statement Components of lease expense: Operating lease cost $ 1,870 Variable lease cost 152 Less sublease income 54 Total lease cost $ 1,968 (In thousands) Cash flow Statement Supplemental cash flow information: Operating cash flows from operating leases $ 1,656 As of December 31, 2019 not |
Note 7 - Goodwill and Core Depo
Note 7 - Goodwill and Core Deposit Intangibles | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | ( 7 Goodwill, recorded on the acquisition date of an entity, represents $11.8 million related to the May 1, 2019 1996 12 may GAAP requires that goodwill and intangible assets with indefinite useful lives not September 30 th December 31, 2019 2018 December 31, 2019, not not not not two December 31, 2019. Changes in the carrying value of goodwill follows: December 31, (in thousands) 2019 2018 Balance at beginning of period $ 682 $ 682 Goodwill acquired 12,144 — Recast adjustments (313 ) — Impairment — — Balance at end of period $ 12,513 $ 682 Bancorp recorded CDI assets of $1.5 million and $2.5 million in association with its May 1, 2019 2013 A cquisition of KSB ” Changes in the net carrying amount of CDI assets follow: Years ended December 31, (in thousands) 2019 2018 2017 Balance, beginning of period $ 1,057 $ 1,225 $ 1,405 Additions 1,519 — — Amortized to expense (291 ) (168 ) (180 ) Balance, end of period $ 2,285 $ 1,057 $ 1,225 Future CDI amortization expense is estimated as follows: (in thousands) 2020 $ 323 2021 302 2022 295 2023 259 2024 241 Beyond 2024 865 Total future payments $ 2,285 |
Note 8 - Other Assets
Note 8 - Other Assets | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Other Assets Disclosure [Text Block] | ( 8 A summary of major components of other assets follows: December 31, (in thousands) 2019 2018 Cash surrender value of life insurance other than BOLI $ 16,145 $ 15,029 Net deferred tax asset 14,466 10,193 Investments in tax credit related ventures 6,248 4,537 Prepaid assets 2,812 3,072 Trust fee receivable 2,171 1,939 Mortgage servicing rights 1,372 1,022 Other real estate owned 493 1,018 Other 7,232 8,362 Total other assets $ 50,939 $ 45,172 Bancorp maintains life insurance policies other than BOLI in conjunction with its non-qualified defined benefit retirement and non-qualified compensation plans. MSRs, a component of other assets, are initially recognized at fair value when mortgage loans are sold with servicing retained. The MSRs are amortized in proportion to and over the period of estimated net servicing income, considering appropriate prepayment assumptions. MSRs are evaluated quarterly for impairment by comparing carrying value to fair value. Estimated fair values of MSRs at December 31, 2019 December 31, 2018 December 31, 2019 December 31, 2018. Changes in the net carrying amount of MSRs are shown in the following table. Years ended December 31, (in thousands) 2019 2018 2017 Balance, beginning of period $ 1,022 $ 875 $ 921 Additions 506 302 225 Amortized to expense (156 ) (155 ) (271 ) Balance, end of period $ 1,372 $ 1,022 $ 875 |
Note 9 - Income Taxes
Note 9 - Income Taxes | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | ( 9 Components of income tax expense (benefit) from operations were as follows: Years Ended December 31, (in thousands) 2019 2018 2017 Current income tax expense: Federal $ 14,673 $ 11,567 $ 12,622 State 772 732 546 Total current income tax expense 15,445 12,299 13,168 Deferred income tax expense (benefit) : Federal (746 ) (52 ) 3,783 State (2,872 ) (289 ) (4 ) Total deferred income tax expense (benefit) (3,618 ) (341 ) 3,779 Change in valuation allowance (2,234 ) 73 192 Total income tax expense $ 9,593 $ 12,031 $ 17,139 Components of income tax (benefit) expense recorded directly to stockholders’ equity were as follows: Years Ended December 31, (in thousands) 2019 2018 2017 Unrealized (loss) gain on securities available for sale $ 1,757 $ (812 ) $ (531 ) Reclassification adjustment for securities losses realized in income — — 81 Unrealized gain on derivatives (120 ) 46 112 Minimum pension liability adjustment (58 ) 46 (9 ) Total income tax (benefit) expense recorded directly to stockholders' equity $ 1,579 $ (720 ) $ (347 ) An analysis of the difference between statutory and ETRs from operations follows: Years Ended December 31, 2019 2018 2017 U.S. federal statutory income tax rate 21.0 % 21.0 % 35.0 % Kentucky state income tax enactments (5.2 ) — — Net deferred tax asset remeasurement — (0.5 ) 10.8 Excess tax benefits from stock-based compensation arrangements (1.0 ) (0.8 ) (2.6 ) Increase in cash surrender value of life insurance (0.9 ) (0.4 ) (1.5 ) Tax credits (1.9 ) (1.8 ) (14.4 ) Tax exempt interest income (0.3 ) (0.4 ) (1.2 ) Amortization/impairment of investments in tax credit partnerships 0.3 0.4 3.4 State income taxes, net of federal benefit 0.7 0.8 0.7 Other, net — (0.5 ) 0.9 Effective tax rate 12.7 % 17.8 % 31.1 % Currently, state income tax expense represents tax owed to the state of Indiana. Kentucky and Ohio state bank taxes are currently based on capital levels, and are recorded as other non-interest expense. In March 2019, HB354 2021. two first 2019, 2019. 2021. In April 2019, HB458 2021 second 2019, 2019. 2020. The TCJA was enacted on December 22, 2017 January 1, 2018. 2017 In December 2017, 118 not 118 not one The effects of temporary differences that gave rise to significant portions of DTAs and DTLs follows: December 31, (in thousands) 2019 2018 Deferred tax assets Allowance for loan loss $ 6,633 $ 5,567 Deferred compensation 5,758 4,703 Operating lease liability 3,427 — State net operating loss 2,550 2,201 Accrued expenses 1,486 968 Securities — 756 Investments in tax credit partnerships 655 543 Loans 501 434 Other assets 228 181 Write-downs and costs associated with other real estate owned 22 7 Total deferred tax assets 21,260 15,360 Deferred tax liabilities Property and equipment 1,054 1,154 Right-of-use operating lease asset 3,154 — Securities 748 — Loan costs 767 632 Mortgage servicing rights 299 193 Leases 266 336 Core deposit intangible 202 230 Other liabilities 183 267 Total deferred tax liabilities 6,673 2,812 Valuation allowance (121 ) (2,355 ) Net deferred tax asset $ 14,466 $ 10,193 A valuation allowance is recognized for a DTA if, based on the weight of available evidence, it is more likely than not not not December 31, 2019. Realization of DTAs associated with investment in tax credit partnerships is dependent upon generating sufficient taxable capital gain income prior to their expiration and net operating losses that will not may December 31, 2019 2018. 2020. 2039. Kentucky DTAs amounts and the related valuation allowance for Bancorp’s net operating losses were previously reported as net due to a full valuation allowance and immaterial amounts. The 2018 GAAP provides guidance on financial statement recognition and measurement of tax positions taken, or expected to be taken, in tax returns. If recognized, tax benefits would reduce tax expense and accordingly, increase net income. The amount of unrecognized tax benefits may December 31, 2019 2018, 2015. |
Note 10 - Deposits
Note 10 - Deposits | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Deposit Liabilities Disclosures [Text Block] | ( 10 ) Deposits The composition of the Bank’s deposits follows: December 31, (in thousands) 2019 2018 Non-interest bearing demand deposits $ 810,475 $ 711,023 Interest bearing deposits: Interest bearing demand 979,595 892,867 Savings 169,622 155,007 Money market 742,029 688,744 Time deposits of $250,000 or more 81,412 55,182 Other time deposits 350,805 291,533 Total time deposits(1) 432,217 346,715 Total interest bearing deposits 2,323,463 2,083,333 Total deposits $ 3,133,938 $ 2,794,356 ( 1 Includes $30 million in brokered deposits as of December 31, 2019 2018. Deposits totaling $126 million were acquired on May 1, 2019, Interest expense related to certificates of deposit and other time deposits in denominations of $250,000 December 31, 2019, 2018 2017. At December 31, 2019, (in thousands) 2020 $ 273,568 2021 129,676 2022 11,729 2023 10,049 2024 7,094 2025 and thereafter 101 Total time deposits $ 432,217 Deposits of directors and their associates, including deposits of companies for which directors are principal owners, and executive officers were $81 million and $42 million at December 31, 2019 2018, At December 31, 2019 2018, |
Note 11 - Securities Sold Under
Note 11 - Securities Sold Under Agreements to Repurchase | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Repurchase Agreements, Resale Agreements, Securities Borrowed, and Securities Loaned Disclosure [Text Block] | ( 11 SSUAR are a funding source of Bancorp and are primarily used by commercial customers in conjunction with collateralized corporate cash management accounts. Such repurchase agreements are considered financing agreements and mature within one December 31, 2019, Information regarding SSUAR follows: December 31, (Dollars in thousands) 2019 2018 Outstanding balance at end of period $ 31,895 $ 36,094 Weighted average interest rate at end of period 0.22 % 0.27 % Years Ended December 31, (dollars in thousands) 2019 2018 2017 Average outstanding balance during the period $ 38,555 $ 62,580 $ 70,187 Average interest rate during the period 0.26 % 0.25 % 0.19 % Maximum outstanding at any month end during the period $ 52,599 $ 74,725 $ 75,365 |
Note 12 - FHLB Advances
Note 12 - FHLB Advances | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Federal Home Loan Bank Advances, Disclosure [Text Block] | ( 1 2 ) FHLB Advances Bancorp had outstanding 57 separate advances totaling $80 million as of December 31, 2019, December 31, 2018. 2019 2028. Acquisition of KSB December 31, 2019, The following is a summary of the contractual maturities and average effective rates of outstanding advances: (dollars in thousands) December 31, 2019 December 31, 2018 Maturity Weighted average Weighted average Year Advance Fixed Rate Advance Fixed Rate 2020 $ 50,004 1.99 $ 1,691 2.23 2021 2,400 2.52 215 2.12 2023 456 1.00 — — 2024 2,023 2.36 2,240 2.36 2025 3,774 2.41 4,626 2.42 2026 8,156 1.96 8,185 1.99 2027 7,445 1.73 — — 2028 5,695 2.32 1,220 1.49 Total $ 79,953 2.02 % $ 18,177 2.14 % Payments based on amortization schedules over the next five (dollars in thousands) Year 2020 $ 55,680 2021 6,004 2022 3,193 2023 2,655 2024 3,122 2025 and beyond 9,299 FHLB advances are collateralized by certain CRE and residential real estate mortgage loans under a blanket mortgage collateral pledge agreement and FHLB stock. Bancorp views these advances to be an effective alternative to brokered deposits to fund loan growth. At December 31, 2019, 2018, $105 December 31, 2019 2018. |
Note 13 - Other Comprehensive I
Note 13 - Other Comprehensive Income (Loss) | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | ( 13 ) Other Comprehensive Income (Loss) The following table illustrates activity within the balances in AOCI by component, and is shown for the years ended December 31, 2019, 2018, 2017. Net unrealized Net unrealized Minimum gains (losses) gains (losses) pension on securities on cash liability (in thousands) available for sale flow hedges adjustment Total Balance, January 1, 2017 $ (1,211 ) $ (16 ) $ (272 ) $ (1,499 ) Net current period other comprehensive income (loss) (721 ) 209 (70 ) (582 ) Amounts reclassifed from AOCI 151 — — 151 Balance, December 31, 2017 (1) $ (1,781 ) $ 193 $ (342 ) $ (1,930 ) Balance, January 1, 2018 $ (1,781 ) $ 193 $ (342 ) $ (1,930 ) Net current period other comprehensive income (loss) (3,053 ) 174 173 (2,706 ) Reclassification adjustment for adoption of ASU 2018-02 (496 ) 41 (51 ) (506 ) Balance, December 31, 2018 $ (5,330 ) $ 408 $ (220 ) $ (5,142 ) Balance, January 1, 2019 $ (5,330 ) $ 408 $ (220 ) $ (5,142 ) Net current period other comprehensive income (loss) 6,415 (445 ) (151 ) 5,819 Balance, December 31, 2019 $ 1,085 $ (37 ) $ (371 ) $ 677 ( 1 December 31, 2017 the Footnote titled “Other Comprehensive Income (Loss)” of the 2017 10 or securities AFS , cash flow hedges, and minimum pension liability, respectively. The above table includes $506,000 reclassification from AOCI to retained earnings related to the adoption of ASU 2018 02 first 2018. 2018 02 2017 January 1, 2018. 2017. The following table illustrates activity within the reclassifications out of AOCI: Details of accumulated Affected line item in other comprehensive Amount reclassified from accumulated the consolidated income (loss) components other comprehensive income (loss) statements of income (in thousands) For the years ended December 31, 2019 2018 2017 Unrealized gains (losses) on securities available for sale: Realized loss on sale of securities available for sale $ — $ — $ (232 ) Loss on sale of securities Effect of income taxes — — 81 Income tax expense Reclassification, net of income taxes $ — $ — $ (151 ) |
Note 14 - Preferred Stock and C
Note 14 - Preferred Stock and Common Stock | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Preferred Stock [Text Block] | ( 14 Bancorp has a class of preferred stock (no par value; 1,000,000 shares authorized); the relative rights, preferences and other terms of the class or any series within the class will be determined by the Board of Directors prior to any issuance. None |
Note 15 - Net Income Per Share
Note 15 - Net Income Per Share | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | ( 15 The following table reflects net income (numerator) and average shares outstanding (denominator) for basic and diluted net income per share computations: Years Ended December 31 , (in thousands, except per share data) 2019 2018 2017 Net income $ 66,067 $ 55,517 $ 38,043 Weighted average shares outstanding - basic 22,598 22,619 22,532 Dilutive securities 267 325 451 Weighted average shares outstanding - diluted 22,865 22,944 22,983 Net income per share - basic $ 2.92 $ 2.45 $ 1.69 Net income per share - diluted $ 2.89 $ 2.42 $ 1.66 Certain SARs that were excluded from the EPS calculation because their impact was antidilutive follows: Years Ended December 31, (in thousands) 2019 2018 Antidilutive SARs 199 146 |
Note 16 - Employee Benefit Plan
Note 16 - Employee Benefit Plans | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Pension and Other Postretirement Benefits Disclosure [Text Block] | ( 16 Bancorp has a combined employee stock ownership and profit sharing plan. The plan is a defined contribution plan and is available to all employees meeting certain eligibility requirements. In general, for employees who work more than 1,000 2019, 2018, 2017 December 31, 2019 2018, In addition Bancorp has non-qualified plans into which directors and certain senior officers may 2019, 2018 2017. December 31, 2019 2018, Bancorp sponsors an unfunded, non-qualified, defined benefit retirement plan for three key officers (one current and two no December 31 December 31, 2019 December 31, 2018. December 31, 2019 2018. Benefits expected to be paid in each year from 2020 2024 (in thousands) 2020 $ 84 2021 — 2022 — 2023 — 2024 137 Beyond 2024 3,141 Total future payments $ 3,362 Expected benefits to be paid are based on the same assumptions used to measure Bancorp’s benefit obligation at December 31, 2019. no |
Note 17 - Stock-based Compensat
Note 17 - Stock-based Compensation | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | ( 17 The fair value of all stock-based awards granted, net of estimated forfeitures, is recognized as compensation expense over the respective service period. At Bancorp's 2015 2015 2005 2015 2018 December 31, 2019, 2005 April 2015 2025. 2015 no S tock O ptions – December 31, 2019 2018. SAR Grants – ten Fair values of SARs are estimated at the date of grant using the Black-Scholes option pricing model, a leading formula for calculating such value. The model requires the input of assumptions, changes to which can materially affect the fair value estimate. The following assumptions were used in SAR valuations at the grant date in each year: 2019 2018 2017 Dividend yield 2.54 % 2.56 % 2.72 % Expected volatility 20.39 % 20.17 % 19.47 % Risk free interest rate 2.52 % 2.96 % 2.29 % Expected life of SARs (years) 7.2 7.0 7.0 Dividend yield and expected volatility are based on historical information for Bancorp corresponding to the expected life of SARs granted. Expected volatility is the volatility of underlying shares for the expected term calculated on a monthly basis. The risk free interest rate is the implied yield currently available on U.S. Treasury issues with a remaining term equal to the expected life of the awards. The expected life of SARs is based on actual experience of past like-term SARs. Bancorp evaluates historical exercise and post-vesting termination behavior when determining the expected life. RSA Grants five 2015, 2015 PSU Grants three January 1 first not one 2019, 2018, 2017. RSU Grants In the first 2019 2018, Bancorp utilized cash of $272,000 and $154,000 during 2019 2018 Bancorp has recognized stock-based compensation expense for SARs, RSAs, and PSUs within compensation expense, and RSUs for directors within other non-interest expense, as follows: Year Ended December 31, 2019 (in thousands) Stock Appreciation Rights Restricted Stock Awards Restricted Stock Units Performance Stock Units Total Expense $ 345 $ 1,185 $ 329 $ 1,719 $ 3,578 Deferred tax benefit (72 ) (249 ) (69 ) (361 ) (751 ) Total net expense $ 273 $ 936 $ 260 $ 1,358 $ 2,827 Year Ended December 31, 2018 (in thousands) Stock Appreciation Rights Restricted Stock Awards Restricted Stock Units Performance Stock Units Total Expense $ 379 $ 1,100 $ 248 $ 2,300 $ 4,027 Deferred tax benefit (80 ) (231 ) (52 ) (483 ) (846 ) Total net expense $ 299 $ 869 $ 196 $ 1,817 $ 3,181 Year Ended December 31, 2017 (in thousands) Stock Appreciation Rights Restricted Stock Awards Restricted Stock Units Performance Stock Units Total Expense $ 280 $ 1,032 $ 219 $ 1,361 $ 2,892 Deferred tax benefit (59 ) (216 ) (46 ) (286 ) (607 ) Total net expense $ 221 $ 816 $ 173 $ 1,075 $ 2,285 Beginning in 2017 2016 09 2017, not 2017, 2019, 2018 2017. not Detail of unrecognized stock-based compensation expense follows: (in thousands) Stock Appreciation Rights Restricted Stock Awards Restricted Stock Units Performance Stock Units Total 2020 $ 306 $ 1,035 $ 2 $ 853 $ 2,196 2021 248 816 — 462 1,526 2022 193 547 — — 740 2023 118 302 — — 420 2024 11 24 — — 35 2025 — — — — - Total estimated expense $ 876 $ 2,724 $ 2 $ 1,315 $ 4,917 The following table summarizes SARs Weighted Weighted Weighted average average Aggregate average remaining Exercise exercise intrinsic fair contractual (in thousands, except per share and years) SARs price price value (1) value life (in years) Outstanding, January 1, 2017 735 $14.02 - $33.08 $ 17.78 $ 21,443 $ 3.26 5.5 Granted 46 40.00 - 40.00 40.00 — 6.34 Exercised (77 ) 14.02 - 17.89 15.41 1,855 3.18 Forfeited — - - — — Outstanding, December 31, 2017 704 $14.02 - $40.00 $ 19.51 $ 12,923 $ 3.47 5.1 Outstanding, January 1, 2018 704 $14.02 - $40.00 $ 19.51 $ 12,923 $ 3.47 5.1 Granted 100 35.90 - 39.32 37.75 — 6.07 Exercised (73 ) 14.02 - 19.37 15.32 1,654 3.43 Forfeited — - - — — Outstanding, December 31, 2018 731 $14.02 - $40.00 $ 22.42 $ 8,422 $ 3.83 5.2 Outstanding, January 1, 2019 731 $14.02 - $40.00 $ 22.42 $ 8,422 $ 3.83 5.2 Granted 53 36.65 - 38.18 37.01 213 6.24 Exercised (143 ) 14.02 - 22.96 15.99 3,025 3.47 Forfeited — - - — — Outstanding, December 31, 2019 641 $14.02 - $40.00 $ 25.06 $ 10,250 $ 4.10 5.3 Vested and exercisable 439 $14.02 - $40.00 $ 20.53 $ 9,017 $ 3.42 4.0 Unvested 202 22.96 - 40.00 34.93 1,233 5.59 7.9 Outstanding, December 31, 2019 641 $14.02 - $40.00 $ 25.06 $ 10,250 $ 4.10 5.3 Vested during 2019 91 $19.37 - $40.00 $ 28.80 $ 1,110 $ 4.66 ( 1 - Intrinsic value for SARs is defined as the amount by which the current market price of the underlying stock exceeds the exercise or grant price. SARs outstanding by expiration year follows: (in thousands, except per share data) Expiration SARs Outstanding SARs Exercisable Weighted Average Exercise Price 2020 3 3 $ 14.02 2021 27 27 15.88 2022 108 108 15.25 2023 80 80 15.26 2024 73 73 19.37 2025 63 49 23.00 2026 88 55 25.84 2027 46 21 40.00 2028 100 23 37.75 2029 53 — 37.01 641 439 $ 25.06 The following table summarizes activity for RSAs Grant date weighted (in thousands, except per share data) RSAs average cost Unvested at January 1, 2017 145 $ 21.57 Shares awarded 29 44.85 Restrictions lapsed and shares released (47 ) 19.79 Shares forfeited (8 ) 25.18 Unvested at December 31, 2017 119 $ 27.62 Unvested at January 1, 2018 119 $ 27.62 Shares awarded 40 35.89 Restrictions lapsed and shares released (44 ) 23.62 Shares forfeited (5 ) 31.35 Unvested at December 31, 2018 110 $ 32.09 Unvested at January 1, 2019 110 $ 32.09 Shares awarded 40 34.88 Restrictions lapsed and shares released (40 ) 28.74 Shares forfeited (2 ) 35.36 Unvested at December 31, 2019 108 $ 34.31 Shares expected to be awarded for PSUs three January 1 Grant Year Vesting Period in Years Fair Value Expected Shares to be Awarded 2017 3 $ 35.66 61,893 2018 3 31.54 50,352 2019 3 32.03 43,603 Bancorp has no not December 31, 2019. Number of Shares shares to be Weighted available for issued upon average future Plan category (in thousands) exercising/vesting exercise price issuance (a) Equity compensation plans approved by security holders: Stock Appreciation Rights (b) (b) 547 Restricted Stock Awards 108 N/A (a) Restricted Stock Units 10 N/A (a) Performance Stock Units (c) N/A (a) Total shares 118 547 (a) Under the 2015 - qualified stock options, SARs, RSAs , and RSUs. (b) At December 31, 201 9 , approximately 641 ,000 SARs were outstanding at a weighted average grant price of $ 25.06 . The number of shares to be issued upon exercise will be determined based on the difference between the grant price and the market price at the date of exercise. (c) The number of shares to be issued is dependent upon Bancorp achieving certain predefined performance targets and ranges from zero 196 ,000 shares. As of December 31, 201 9 , the expected shares to be awarded are approximately 156 ,000 . |
Note 18 - Dividends
Note 18 - Dividends | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Restrictions on Dividends, Loans and Advances [Text Block] | ( 18 Bancorp’s principal source of cash revenue is dividends paid to it as the sole shareholder of the Bank. At any balance sheet date, the Bank’s regulatory dividend restriction represents the Bank’s net income of the current year plus the prior two December 31, 2019, may |
Note 19 - Commitments and Conti
Note 19 - Commitments and Contingent Liabilities | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | ( 19 As of December 31, 2019 2018, not December 31, (in thousands) 2019 2018 Commercial and industrial $ 416,195 $ 309,920 Construction and development 240,503 179,364 Home equity lines of credit 155,920 147,907 Credit cards 26,439 20,003 Overdrafts 32,715 21,751 Letters of credit 24,193 20,891 Other 40,083 33,369 Future loan commitments 236,885 101,399 Total off balance sheet commitments to extend credit $ 1,172,933 $ 834,604 Commitments to extend credit are an agreement to lend to a customer as long as collateral is available as agreed upon and there is no not may December 31, 2019 2018, Standby letters of credit are conditional commitments issued by Bancorp to guarantee the performance of a customer to a first one two Certain commercial customers require confirmation of Bancorp’s letters of credit by other banks since Bancorp does not one one six December 31, 2019, No As of December 31, 2019, not |
Note 20 - Assets and Liabilitie
Note 20 - Assets and Liabilities Measured and Reported at Fair Value | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Fair Value Measurement and Measurement Inputs, Recurring and Nonrecurring [Text Block] | ( 20 Fair value represents the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. There are three may ● Level 1: ● Level 2: not ● Level 3: not Authoritative guidance requires maximization of use of observable inputs and minimization of use of unobservable inputs in fair value measurements. Where there exists limited or no may not Bancorp’s AFS securities portfolio and interest rate swaps are recorded at fair value on a recurring basis. All AFS securities are priced using standard industry models or matrices with various assumptions such as yield curves, volatility, prepayment speeds, default rates, time value, credit rating and market prices for similar instruments. These assumptions are observable in the market place and can be derived from or supported by observable data. These measurements are classified as Level 2. Fair value measurements for interest rate swaps are based on benchmark forward yield curves and other relevant observable market data. For purposes of potential valuation adjustments to derivative positions, Bancorp evaluates the credit risk of its counterparties as well as its own credit risk. To date, Bancorp has not not 2 MSRs, impaired loans and OREO are recorded at fair value on a non-recurring basis, generally in the application of lower of cost or market adjustments or write-downs of specific assets. Carrying values of assets measured at fair value on a recurring basis follows: (in thousands) Fair value at December 31, 2019 Assets Total Level 1 Level 2 Level 3 Securities available for sale: U.S. Treasury and other U.S. government obligations $ 49,897 $ 49,897 $ — $ — Government sponsored enterprise obligations 209,944 — 209,944 — Mortgage backed securities - government agencies 193,861 — 193,861 — Obligations of states and political subdivisions 17,036 — 17,036 — Total securities available for sale 470,738 49,897 420,841 — Interest rate swaps 2,696 — 2,696 — Total assets $ 473,434 $ 49,897 $ 423,537 $ — Liabilities Interest rate swaps $ 2,767 $ — $ 2,767 $ — (in thousands) Fair value at December 31, 2018 Assets Total Level 1 Level 2 Level 3 Securities available for sale: Government sponsored enterprise obligations $ 261,039 $ — $ 261,039 $ — Mortgage backed securities - government agencies 146,277 — 146,277 — Obligations of states and political subdivisions 29,679 — 29,679 — Total securities available for sale 436,995 — 436,995 — Interest rate swaps 1,035 — 1,035 — Total assets $ 438,030 $ — $ 438,030 $ — Liabilities Interest rate swaps $ 543 $ — $ 543 $ — For the securities portfolio, Bancorp monitors the valuation technique used by pricing agencies to ascertain when transfers between levels have occurred. The nature of other assets and liabilities measured at fair value is such that transfers in and out of any level are expected to be rare. For the year ended December 31, 2019, no 1, 2, 3. Bancorp had no financial instruments classified within Level 3 December 31, 2019 2018. Discussion of assets measured at fair value on a non-recurring basis follows: MSRs 3. December 31, 2019 2018, not December 31, 2019 2018. Impaired loans 3 may may may third December 31, 2019, December 31, 2018. OREO may not 3. December 31, 2019 2018, Below are carrying values of assets measured at fair value on a non-recurring basis. Fair value at December 31, 2019 Losses (in thousands) Total Level 1 Level 2 Level 3 Recorded Impaired loans $ 7,253 $ — $ — $ 7,253 $ (20 ) Other real estate owned 493 — — 493 (70 ) Fair value at December 31, 2018 Losses (in thousands) Total Level 1 Level 2 Level 3 Recorded Impaired loans $ 925 $ — $ — $ 925 $ (514 ) Other real estate owned 239 — — 239 (32 ) For Level 3 December 31, 2019 (dollars in thousands) Fair Value Valuation Technique Unobservable Inputs Weighted Average Impaired loans - collateral dependent $ 7,253 Appraisal Appraisal discounts 60.3 % Other real estate owned 493 Appraisal Appraisal discounts 17.1 December 31, 2018 (dollars in thousands) Fair Value Valuation Technique Unobservable Inputs Weighted Average Impaired loans - collateral dependent $ 925 Appraisal Appraisal discounts 9.9 % Other real estate owned 239 Appraisal Appraisal discounts 22.0 |
Note 21 - Disclosure of Financi
Note 21 - Disclosure of Financial Instruments Not Reported at Fair Value | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | ( 21 Not GAAP requires disclosure of the fair value of financial assets and liabilities, including those financial assets and financial liabilities that are not (In thousands) Carrying December 31, 2019 amount Fair value Level 1 Level 2 Level 3 Assets Cash and cash equivalents $ 249,724 $ 249,724 $ 249,724 $ — $ — Mortgage loans held for sale 8,748 8,923 — 8,923 — Federal Home Loan Bank stock 11,316 11,316 — 11,316 — Loans, net 2,818,225 2,841,767 — — 2,841,767 Accrued interest receivable 8,534 8,534 8,534 — — Liabilities Non-interest bearing deposits $ 810,475 $ 810,475 $ 810,475 $ — $ — Transaction deposits 1,891,246 1,891,246 — 1,891,246 — Time deposits 432,217 434,927 — 434,927 — Securities sold under agreement to repurchase 31,895 31,895 — 31,895 — Federal funds purchased 10,887 10,887 — 10,887 — FHLB advances 79,953 80,906 — 80,906 — Accrued interest payable 640 640 640 — — (In thousands) Carrying December 31, 2018 amount Fair value Level 1 Level 2 Level 3 Assets Cash and cash equivalents $ 198,939 $ 198,939 $ 198,939 $ — $ — Mortgage loans held for sale 1,675 1,743 — 1,743 — Federal Home Loan Bank stock 10,370 10,370 — 10,370 — Loans, net 2,522,637 2,508,587 — — 2,508,587 Accrued interest receivable 8,360 8,360 8,360 — — Liabilities Non-interest bearing deposits $ 711,023 $ 711,023 $ 711,023 $ — $ — Transaction deposits 1,736,618 1,736,618 — 1,736,618 — Time deposits 346,715 345,273 — 345,273 — Securities sold under agreement to repurchase 36,094 36,094 — 36,094 — Federal funds purchased 10,247 10,247 — 10,247 — FHLB advances 48,177 47,227 — 47,227 — Accrued interest payable 762 762 762 — — Fair value estimates are made at a specific point in time based on relevant market information and information about financial instruments. Because no may not |
Note 22 - Derivative Financial
Note 22 - Derivative Financial Instruments | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | ( 2 2 ) Derivative Financial Instruments Periodically, Bancorp enters into interest rate swap transactions with borrowers who desire to hedge exposure to rising interest rates, while at the same time entering into an offsetting interest rate swap, with substantially matching terms, with another approved independent counterparty. These are undesignated derivative instruments and are recognized on the balance sheet at fair value. Because of matching terms of offsetting contracts and collateral provisions mitigating any non-performance risk, changes in fair value subsequent to initial recognition have an insignificant effect on earnings. Exchanges of cash flows related to undesignated interest rate swap agreements were offsetting and therefore had no Interest rate swap agreements derive their value from underlying interest rates. These transactions involve both credit and market risk. Notional amounts are amounts on which calculations, payments, and the value of the derivative are based. Notional amounts do not not Bancorp had outstanding undesignated interest rate swap contracts as follows: Receiving Paying December 31, December 31, December 31, December 31, (dollars in thousands) 2019 2018 2019 2018 Notional amount $ 99,000 $ 55,505 $ 99,000 $ 55,505 Weighted average maturity (years) 8.2 8.0 8.2 8.0 Fair value $ 2,696 $ 519 $ 2,767 $ 543 In 2015, three December 9, 2015 December 6, 2020. 2016, three December 6, 2016 December 6, 2021. The following table details Bancorp’s derivative position designated as a cash flow hedge, and the fair values: Fair value (dollars in thousands) Pay fixed December 31, Notional Maturity Receive (variable) index swap rate 2019 2018 $ 10,000 12/6/2021 US 3 Month LIBOR 1.89 % $ (45 ) $ 193 20,000 12/6/2020 US 3 Month LIBOR 1.79 (6 ) 323 $ 30,000 1.82 $ (51 ) $ 516 |
Note 23 - Regulatory Matters
Note 23 - Regulatory Matters | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | ( 23 Bancorp and the Bank are subject to capital regulations in accordance with Basel III, as administered by banking regulators. Regulatory agencies measure capital adequacy within a framework that makes capital requirements, in part, dependent on the individual risk profiles of financial institutions. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on Bancorp’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Holding Company and the Bank must meet specific capital guidelines that involve quantitative measures of Bancorp’s assets, liabilities and certain off-balance sheet items, as calculated under regulatory accounting practices. The capital amounts and classification are also subject to qualitative judgments by the regulators regarding components, risk weightings and other factors. Banking regulators have categorized the Bank as well-capitalized. For prompt corrective action, the regulations in accordance with Basel III define “well capitalized” as a 6.5% Common Equity Tier 1 1 1 1 2016 2019 January 1, 2016; January 1, 2017; January 1, 2018; January 1, 2019. Bancorp continues to exceed the regulatory requirements for all calculations. Bancorp and the Bank intend to maintain a capital position that meets or exceeds the “well-capitalized” requirements as defined by the FRB and the FDIC, in addition to the capital conservation buffer. The following table sets forth Bancorp’s and the Bank’s risk based capital amounts and ratios: (dollars in thousands) Actual Minimum for adequately capitalized Minimum for well capitalized December 31, 2019 Amount Ratio Amount Ratio Amount Ratio Total risk-based capital (1) Consolidated $ 418,460 12.85 % $ 260,448 8.00 % NA NA Bank 396,299 12.20 259,823 8.00 $ 324,778 10.00 % Common equity tier 1 risk-based capital Consolidated 391,319 12.02 146,502 4.50 NA NA Bank 369,158 11.37 146,150 4.50 211,106 6.50 Tier 1 risk-based capital (1) Consolidated 391,319 12.02 195,336 6.00 NA NA Bank 369,158 11.37 194,867 6.00 259,823 8.00 Leverage (2) Consolidated 391,319 10.60 147,733 4.00 NA NA Bank 369,158 10.67 138,392 4.00 172,990 5.00 (dollars in thousands) Actual Minimum for adequately capitalized Minimum for well capitalized December 31, 2018 Amount Ratio Amount Ratio Amount Ratio Total risk-based capital (1) Consolidated $ 396,019 13.91 % $ 227,714 8.00 % NA NA Bank 385,637 13.56 227,462 8.00 $ 284,327 10.00 % Common equity tier 1 risk-based capital Consolidated 370,135 13.00 128,089 4.50 NA NA Bank 359,753 12.65 127,947 4.50 184,813 6.50 Tier 1 risk-based capital (1) Consolidated 370,135 13.00 170,785 6.00 NA NA Bank 359,753 12.65 170,596 6.00 227,462 8.00 Leverage (2) Consolidated 370,135 11.33 130,698 4.00 NA NA Bank 359,753 11.02 130,569 4.00 163,211 5.00 ( 1 Ratio is computed in relation to risk-weighted assets . ( 2 Ratio is computed in relation to average assets . NA – Regulatory framework does not “ well capitalized ” for holding companies |
Note 24 - Stock Yards Bancorp,
Note 24 - Stock Yards Bancorp, Inc. (Parent Company Only) | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Condensed Financial Information of Parent Company Only Disclosure [Text Block] | ( 24 Condensed Balance Sheets December 31, (in thousands) 2019 2018 Assets Cash on deposit with subsidiary bank $ 14,714 $ 7,655 Investment in and receivable from subsidiaries 384,136 356,118 Other assets 7,821 3,147 Total assets $ 406,671 $ 366,920 Liabilities and stockholders' equity Other liabilities $ 374 $ 420 Total stockholders’ equity 406,297 366,500 Total liabilities and stockholders’ equity $ 406,671 $ 366,920 Condensed Statements of Income Years ended December 31, (in thousands) 2019 2018 2017 Income - dividends and interest from subsidiaries $ 72,119 $ 21,403 $ 18,160 Other income 2 12 82 Less expenses 4,935 4,818 3,255 Income before income taxes and equity in undistributed net income of subsidiary 67,186 16,597 14,987 Income tax benefit (4,683 ) (1,713 ) (1,985 ) Income before equity in undistributed net income of subsidiary 71,869 18,310 16,972 Equity in undistributed net income of subsidiary (5,802 ) 37,207 21,071 Net income $ 66,067 $ 55,517 $ 38,043 Comprehensive Income $ 71,886 $ 52,811 $ 37,612 Condensed Statements of Cash Flows Years ended December 31 (in thousands) 2019 2018 2017 Operating activities Net income $ 66,067 $ 55,517 $ 38,043 Adjustments to reconcile net income to net cash provided by operating activities: Equity in undistributed net income of subsidiaries 5,802 (37,207 ) (21,071 ) Gain on sale of fixed assets — (10 ) — Change in receivable from subsidiaries Stock compensation expense 3,578 4,027 2,892 Excess tax benefits from stock- based compensation arrangements (812 ) (549 ) (1,463 ) Depreciation, amortization and accretion, net — — 4 Proceeds from liquidation of private investment fund — — (81 ) Change in other assets (3,863 ) (1,080 ) 5,943 Change in other liabilities (81 ) 220 10 Net cash provided by operating activities 70,691 20,918 24,277 Investing activities Proceeds from sale of fixed assets — 13 — Cash for acquisition (28,000 ) — — Proceeds from liquidation of private investment fund — — 81 Net cash provided by (used in) investing activities (28,000 ) 13 81 Financing activities Repurchase of common stock (11,817 ) (2,004 ) (2,389 ) Share repurchases related to compensation plans (272 ) (154 ) (216 ) Cash dividends paid (23,543 ) (21,766 ) (18,077 ) Net cash used in financing activities (35,632 ) (23,924 ) (20,682 ) Net increase (decrease) in cash 7,059 (2,993 ) 3,676 Cash at beginning of year 7,655 10,648 6,972 Cash at end of year $ 14,714 $ 7,655 $ 10,648 |
Note 25 - Segments
Note 25 - Segments | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | ( 25 Bancorp’s principal activities include Commercial Banking and WM&T. Commercial Banking provides a full range of loan and deposit products to individual consumers and businesses. Commercial Banking also includes Bancorp’s mortgage origination and investment products sales activity. WM&T provides financial management services including investment management, trust and estate administration, and retirement plan services. Financial information for each business segment reflects that which is specifically identifiable or allocated based on an internal allocation method. Income taxes are allocated based on the effective federal income tax rate adjusted for any tax exempt activity. All tax exempt activity and provision have been allocated fully to the Commercial Banking segment. Measurement of performance of business segments is based on the management structure of Bancorp and is not not Principally, all of the net assets of Bancorp are involved in the Commercial Banking segment. Goodwill of $12.5 million, of which $682,000 relates to a bank acquisition in 1996 May 2019 Selected financial information by business segment follows: Commercial As of and for the Year ended December 31, 2019 (in thousands) Banking WM&T Total Net interest income $ 124,902 $ 319 $ 125,221 Provision for loan and leases 1,000 — 1,000 Wealth management and trust services — 22,643 22,643 All other non-interest income 27,147 — 27,147 Non-interest expenses 85,642 12,709 98,351 Income before income tax expense 65,407 10,253 75,660 Income tax expense 7,368 2,225 9,593 Net income $ 58,039 $ 8,028 $ 66,067 Total assets $ 3,720,502 $ 3,695 $ 3,724,197 Commercial As of and for the Year ended December 31, 2018 (in thousands) Banking WM&T Total Net interest income $ 114,161 $ 255 $ 114,416 Provision for loan and leases 2,705 — 2,705 Wealth management and trust services — 21,536 21,536 All other non-interest income 23,810 — 23,810 Non-interest expenses 76,963 12,546 89,509 Income before income tax expense 58,303 9,245 67,548 Income tax expense 10,025 2,006 12,031 Net income $ 48,278 $ 7,239 $ 55,517 Total assets $ 3,299,169 $ 3,755 $ 3,302,924 Commercial As of and for the Year ended December 31, 2017 (in thousands) Banking WM&T Total Net interest income $ 103,352 $ 301 $ 103,653 Provision for loan and leases 2,550 — 2,550 Wealth management and trust services — 20,505 20,505 All other non-interest income 23,994 — 23,994 Non-interest expenses 78,181 12,239 90,420 Income before income tax expense 46,615 8,567 55,182 Income tax expense 14,080 3,059 17,139 Net income $ 32,535 $ 5,508 $ 38,043 Total assets $ 3,237,656 $ 1,990 $ 3,239,646 |
Note 26 - Quarterly Operating R
Note 26 - Quarterly Operating Results (Unaudited) | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Quarterly Financial Information [Text Block] | ( 2 6 ) Quarterly Operating Results (unaudited) A summary of quarterly operating results follows: 2019 (in thousands except per share data) 4th quarter 3rd quarter 2nd quarter 1st quarter Interest income $ 37,795 $ 37,973 $ 36,968 $ 35,029 Interest expense 5,075 5,903 6,194 5,372 Net interest income 32,720 32,070 30,774 29,657 Provision for loan and lease losses - 400 - 600 Net interest income after provision 32,720 31,670 30,774 29,057 Non-interest income 13,161 13,304 12,263 11,062 Non-interest expenses 26,291 23,957 25,464 22,639 Income before income taxes 19,590 21,017 17,573 17,480 Income tax expense 2,941 3,783 1,030 1,839 Net income $ 16,649 $ 17,234 $ 16,543 $ 15,641 Basic earnings per share $ 0.74 $ 0.76 $ 0.73 $ 0.69 Diluted earnings per share $ 0.73 $ 0.76 $ 0.72 $ 0.68 2018 (in thousands except per share data) 4th quarter 3rd quarter 2nd quarter 1st quarter Interest income $ 35,004 $ 33,021 $ 32,004 $ 29,744 Interest expense 5,092 4,500 3,330 2,435 Net interest income 29,912 28,521 28,674 27,309 Provision for loan and lease losses - 735 1,235 735 Net interest income after provision 29,912 27,786 27,439 26,574 Non-interest income 11,576 11,426 11,435 10,909 Non-interest expenses 24,565 21,781 22,136 21,027 Income before income taxes 16,923 17,431 16,738 16,456 Income tax expense 2,265 3,555 3,159 3,052 Net income $ 14,658 $ 13,876 $ 13,579 $ 13,404 Basic earnings per share $ 0.65 $ 0.61 $ 0.60 $ 0.59 Diluted earnings per share $ 0.64 $ 0.60 $ 0.59 $ 0.58 2017 (in thousands except per share data) 4th quarter 3rd quarter 2nd quarter 1st quarter Interest income $ 29,098 $ 28,120 $ 27,026 $ 26,655 Interest expense 2,069 1,947 1,781 1,449 Net interest income 27,029 26,173 25,245 25,206 Provision for loan and lease losses 900 150 600 900 Net interest income after provision 26,129 26,023 24,645 24,306 Non-interest income 11,407 10,945 11,525 10,622 Non-interest expenses 27,048 21,168 21,209 20,995 Income before income taxes 10,488 15,800 14,961 13,933 Income tax expense 5,542 4,096 4,359 3,142 Net income $ 4,946 $ 11,704 $ 10,602 $ 10,791 Basic earnings per share $ 0.22 $ 0.52 $ 0.47 $ 0.48 Diluted earnings per share $ 0.22 $ 0.51 $ 0.46 $ 0.47 Note : The sum of EPS of each of the quarter may not ’ s consolidated financial statements due to rounding . |
Note 27 - Revenue From Contract
Note 27 - Revenue From Contracts With Customers | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | ( 2 7 ) Revenue from contracts with customers Bancorp adopted ASU 2014 09, Revenue from Contracts with Customers and all related amendments 606 January 1, 2018 606 606 Year Ended December 31, 2019 (in thousands) Commercial WM&T Total Wealth management and trust services $ — $ 22,643 $ 22,643 Deposit service charges 5,513 — 5,513 Debit and credit card income 8,123 — 8,123 Treasury management fees 4,992 — 4,992 Mortgage banking income(1) 3,090 — 3,090 Net investment product sales commissions and fees 1,498 — 1,498 Bank owned life insurance(1) 1,031 — 1,031 Other(2) 2,900 — 2,900 Total non-interest income $ 27,147 $ 22,643 $ 49,790 Year Ended December 31, 2018 (in thousands) Commercial WM&T Total Wealth management and trust services $ — $ 21,536 $ 21,536 Deposit service charges 5,759 — 5,759 Debit and credit card income 6,769 — 6,769 Treasury management fees 4,571 — 4,571 Mortgage banking income(1) 2,568 — 2,568 Net investment product sales commissions and fees 1,677 — 1,677 Bank owned life insurance(1) 1,129 — 1,129 Other(2) 1,337 — 1,337 Total non-interest income $ 23,810 $ 21,536 $ 45,346 Year Ended December 31, 2017 (in thousands) Commercial WM&T Total Wealth management and trust services $ — $ 20,505 $ 20,505 Deposit service charges 6,172 — 6,172 Debit and credit card income 5,979 — 5,979 Treasury management fees 4,297 — 4,297 Mortgage banking income(1) 3,221 — 3,221 Loss on sale of securities (232 ) — (232 ) Net investment product sales commissions and fees 1,629 — 1,629 Bank owned life insurance(1) 1,159 — 1,159 Other(2) 1,769 — 1,769 Total non-interest income $ 23,994 $ 20,505 $ 44,499 ( 1 606. ( 2 606, Revenue sources within the scope of ASC 606 Bancorp earns fees from its deposit customers for transactions-based, account management, and overdraft services. Transaction-based fees, which include services such as ATM use fees, stop payments fees, and ACH fees, are recognized at the time the transaction is executed as that is when the company fulfills the performance obligation. Account management fees are earned over the course of a month and charged in the month in which the services are provided. Overdraft fees are recognized at the point in time that the overdraft occurs. Deposit service charges are withdrawn from customer’s account balances. Treasury management transaction fees are recognized at the time the transaction is executed as that is when the company fulfills the performance obligation. Account management fees are earned over the course of a month and charged in the month in which the services are provided. Treasury management fees are withdrawn from customer’s account balances. WM&T provides customers fiduciary and investment management services as agreed upon in asset management contracts. The contracts require WM&T to provide a series of distinct services for which fees are earned over time. The contracts are cancellable upon demand with fees typically based upon the asset value of investments. Revenue is accrued and recognized monthly based upon month-end asset values and collected from the customer predominately in the following month except for a small percentage of fees collected quarterly. Incentive compensation related to WM&T activities is considered a cost of obtaining the contract. Contracts between WM&T and clients do not none December 31, 2019 December 31, 2018. Investment products sales commissions and fees represent the Bank’s share of transaction fees and wrap fees resulting from investment services and programs provided through an agent relationship with a third third not December 31, 2019 2018. Debit and credit card revenue primarily consists of debit and credit card interchange income. Interchange income represents fees assessed within the payment card system for acceptance of card based transactions. Interchange fees are assessed as the performance obligation is satisfied, which is at the point in time the card transaction is authorized. Revenue is collected and recognized daily through the payment network settlement process. Bancorp did not 606, nor 2019. Bancorp’s revenue on the consolidated statement of income is categorized by product type, which effectively depicts how the nature, timing, and extent of cash flows are affected by economic factors. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2019 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation and Nature of Operations – none. The Bank, chartered in 1904, 42 As a result of its acquisition of KSB on May 1, 2019, June, 2019. Bancorp is divided into two reportable segments: Commercial Banking and WM&T: Commercial Banking provides a full range of loan and deposit products to individual consumers and businesses in all its markets through retail lending, mortgage banking, deposit services, online banking, mobile banking, private banking, commercial lending, treasury management services, merchant services, international banking, correspondent banking and other banking services. The Bank also offers securities brokerage services via its banking center network through an arrangement with a third WM&T provides custom-tailored financial planning, investment management, retirement planning, trust and estate services in all markets in which Bancorp operates. The magnitude of WM&T revenue distinguishes Bancorp from other community banks of similar asset size. |
Basis of Financial Presentation and Use of Estimates [Policy Text Block] | Basis of Financial Statement Presentation and Use of Estimates – |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash Equivalents and Cash Flows – |
Investment, Policy [Policy Text Block] | Securities – may 1 2 not 3 not not not not not “Securities Available for Sale” |
Business Combinations Policy [Policy Text Block] | Accounting for Business Acquisitions — 805, Business Combinations Identifiable assets acquired, liabilities assumed, and any non-controlling interest in acquirees are generally recognized at their acquisition-date (“day-one”) fair values based on the requirements of ASC Topic 820, one one one one one may one Acquisition related costs are expensed as incurred unless those costs are related to issuing debt or equity securities used to finance the acquisition. |
Financing Receivable, Held-for-sale [Policy Text Block] | Mortgage Loans Held for Sale – |
Financing Receivable [Policy Text Block] | Loans – 90 not No may not no not six Loans are classified as impaired when it is probable Bancorp will be unable to collect interest and principal according to terms of the loan agreement. These loans are measured at the estimated fair value of the loans’ collateral, if applicable, or on the present value of future cash flows discounted at the loans’ effective interest rate. Impaired loans consist of loans in non-accrual status and loans accounted for as TDRs. Loans purchased in a business acquisition are accounted for using one ● ASC Topic 310 20, Non Refundable Fees and Other Costs not one ● ASC Topic 310 30, 310 30, |
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block] | Allowance Bancorp’s allowance methodology is driven by risk ratings, historical losses, and qualitative factors. Assumptions include many factors such as changes in borrowers’ financial condition or historical loss ratios related to certain loan portfolios which may may not Consistent with Bancorp’s methodology, the historical look-back period was extended from 32 36 first 2019 not first 2019. Bancorp’s allowance calculation includes allocations to loan portfolio segments for qualitative factors including, among other factors, local economic and business conditions, the quality and experience of lending staff and management, exceptions to lending policies, levels of and trends in past due loans and loan classifications, concentrations of credit such as collateral type, trends in portfolio growth, trends in the value of underlying collateral for collateral-dependent loans, effect of other external factors such as the national economic and business trends, and the quality and depth of the loan review function. Bancorp utilizes the sum of all allowance amounts derived as described above as the appropriate level of allowance. Changes in the criteria used in this evaluation or the availability of new information could cause the allowance to be increased or decreased in future periods. Based on this quantitative and qualitative analysis, provisions, or reductions are made to the allowance. Such provisions or reductions are reflected as a charge against or benefit to current earnings in Bancorp’s consolidated statements of income. The adequacy of the allowance is monitored by executive management and reported quarterly to the Audit Committee of the Board of Directors. This committee has approved the overall methodology. Various regulatory agencies, as an integral part of their examination process, periodically review the adequacy of Bancorp’s allowance. Such agencies may The accounting policy related to the allowance is applicable to the Commercial Banking segment of Bancorp. |
Property, Plant and Equipment, Policy [Policy Text Block] | Premises and Equipment |
Federal Home Loan Bank Stock [Policy Text Block] | FHLB Stock may |
Goodwill and Intangible Assets, Policy [Policy Text Block] | Goodwill and Other Intangible Assets not Bancorp has selected September 30th All goodwill is attributable to the Commercial Banking segment with the KSB portion expected to be deductible for tax purposes. Based on its assessment, Bancorp believes its goodwill balance at December 31, 2019 2018 not Other intangible assets consist of CDI assets arising from business acquisitions. CDI assets are initially measured at fair value and then amortized on an accelerated method over their estimated useful lives. |
Other Assets [Policy Text Block] | Other Assets OREO is carried at the lower of cost or estimated fair value minus estimated selling costs. Any write downs to fair value at the date of acquisition are charged to the allowance. In certain situations, improvements to prepare assets for sale are capitalized if those costs increase the estimated fair value of the asset. Expenses incurred in maintaining assets, write downs to reflect subsequent declines in value, and realized gains or losses are reflected in operations and are included in non-interest income and expense. MSRs are amortized in proportion to and over the period of estimated net servicing income, considering appropriate prepayment assumptions and are evaluated quarterly for impairment by comparing the carrying value to fair value. |
Off-Balance-Sheet Credit Exposure, Policy [Policy Text Block] | Off Balance Sheet Financial Instruments |
Derivatives, Policy [Policy Text Block] | Derivatives For derivatives designated as cash flow hedges, the effective portion of changes in fair value of the derivative is initially reported in OCI and subsequently reclassified to interest income or expense when the hedged transaction affects earnings, while the ineffective portion of changes in fair value of derivative, if any, is recognized immediately in other noninterest income. Bancorp assesses effectiveness of each hedging relationship by comparing cumulative changes in cash flows of the derivative hedging instrument with cumulative changes in cash flows of the designated hedged item or transaction. No Periodically, Bancorp enters into an interest rate swap transaction with a borrower, who desires to hedge exposure to rising interest rates, while at the same time entering into an offsetting interest rate swap, with substantially matching terms, with another approved independent counterparty. Because of matching terms of offsetting contracts and collateral provisions mitigating any non-performance risk, changes in fair value subsequent to initial recognition have an insignificant effect on earnings. Because these derivative instruments have not Bancorp had no December 31, 2019 2018. not Derivative Financial Instruments |
Transfers and Servicing of Financial Assets, Policy [Policy Text Block] | Transfers of Financial Assets — not |
Share-based Payment Arrangement [Policy Text Block] | Stock-Based Compensation — |
Income Tax, Policy [Policy Text Block] | Income Taxes A tax position is recognized as a benefit only if it is “more-likely-than- not” 50% not not” no Bancorp recognizes interest and/or penalties related to income tax matters in income tax expense. Bancorp periodically invests in certain partnerships with customers that yield historic tax credits, which are accounted for using the flow through method, which approximates the equity method, and/or low-income housing tax credits as well as tax deductible losses, which are accounted for using the effective yield method for older transactions or proportional amortization method for more recent transactions. The tax benefit of these investments exceeds amortization expense associated with them, resulting in a positive impact on net income. |
Earnings Per Share, Policy [Policy Text Block] | Net Income per Share — |
Comprehensive Income, Policy [Policy Text Block] | Comprehensive Income — |
Loss Contingency [Policy Text Block] | Loss Contingencies not |
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block] | Restrictions on Cash and Cash Equivalents December 31, 2019. |
Policyholders' Dividend [Policy Text Block] | Dividend Restrictions may |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair Value of Financial Instru ments Assets and Liabilities Measured and Reported at Fair Value” |
Revenue [Policy Text Block] | Revenue from contracts with Customers January 1, 2018, 2014 09, Revenue from Contracts with Customers 606” not not 606. 606 |
Segment Reporting, Policy [Policy Text Block] | Segment Information 42 December 31, 2019. two |
Reclassification, Policy [Policy Text Block] | Reclassifications no |
New Accounting Pronouncements, Policy [Policy Text Block] | A ccounting Standards Updates Issued ASU. No. Topic Nature of Update Date Adopted Method of Adoption Financial Statement Impact 2016 13 Financial Instruments - Credit Losses (Topic 326 Amends guidance on reporting credit losses for assets held at amortized-cost basis and available-for-sale debt securities. January 1, 2020 Modified-retrospective approach ASU 2016 13 January 1, 2020 no December 2018 three not 2019 04 Codification Improvements to Topic 326, 815, 825, Clarifies and improves areas of guidance related to the recently issued standards on credit losses, hedging, and recognition and measurement. Based on areas amended Based on areas amended Immaterial 2019 05 Financial Instruments - Credit Losses (Topic 326 Provides the fair value option for certain instruments within the scope of Subtopic 326 20 January 1, 2020 Modified-retrospective approach Immaterial 2019 11 Financial Instruments - Credit Losses (Topic 326 Affects narrow aspects of the guidance issued in ASU 2016 13 January 1, 2020 Conformed to the adoption of ASU 2016 13 Immaterial Accounting Standards Updates Issued (continued) ASU. No. Topic Nature of Update Date Adopted Method of Adoption Financial Statement Impact 2019 01 Lease (Topic 842 Aligns fair value guidance for certain lessors with that of existing guidance (Issue 1 942, 2 3 Issue 1 2 January 1, 2020; 3 January 1, 2019 Prospectively Immaterial 2019 07 Codification Updates to SEC Sections Amends certain SEC sections within the FASB Codification to update and simplify disclosure. Upon adoption of the FASB codification NA Immaterial 2019 12 Income Taxes (Topic 7400 Includes several narrow focused simplifications. January 1, 2020 Modified-retrospective approach Immaterial Accounting Standards Updates Adopted in 2019 ASU. No. Topic Nature of Update Date Adopted Method of Adoption Financial Statement Impact 2016 02 Leases (Topic 842 Most leases are considered operating leases, which are not January 1, 2019 Modified-retrospective approach, which includes a number of optional practical expedients Bancorp adopted on January 1, 2019 not not 6 2018 10 Codification Improvements to Leases (Topic 842 Affects narrow aspects of the guidance issued in ASU 2016 02 January 1, 2019 Conformed to the adoption of ASU 2016 02 See Footnote 6 2018 11 Targeted Improvements to Leases (Topic 842 Provides an additional (and optional) transition method to adopt ASU 2016 02 not January 1, 2019 Conformed to the adoption of ASU 2016 02 Immaterial 2017 12 Derivatives and Hedging (Topic 815 The amendments in this ASU make certain targeted improvements to simplify the application of hedge accounting. January 1, 2019 Prospectively Immaterial |
Note 3 - Acquisition of KSB (Ta
Note 3 - Acquisition of KSB (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | May 1, 2019 As Recorded Fair Value Recast As Recorded (in thousands) by King Adjustments (1) Adjustments (1) by Bancorp Assets acquired: Cash and due from banks $ 3,316 $ — $ — $ 3,316 Interest bearing due from banks 1,761 — — 1,761 Securities available for sale 12,404 23 a — 12,427 Federal Home Loan Bank stock, at cost 1,517 — — 1,517 Federal Reserve Bank stock, at cost 490 — — 490 Loans 165,744 (1,597 ) b (118 ) b 164,029 Allowance for loan losses (1,812 ) 1,812 b — — Net loans 163,932 215 (118 ) 164,029 Premises and equipment, net 4,358 (1,328 ) c 431 c 3,461 Bank owned life insurance 3,431 — — 3,431 Core deposit intangible — 1,519 d — 1,519 Other real estate owned 325 (325 ) e — — Other assets and accrued interest receivable 867 (36 ) f — 831 Total assets acquired $ 192,401 $ 68 $ 313 $ 192,782 Liabilities assumed: Deposits Non-interest bearing $ 24,939 $ — $ — $ 24,939 Interest bearing 100,839 (252 ) g — 100,587 Total deposits 125,778 (252 ) — 125,526 Federal funds purchased 1,566 — — 1,566 Federal Home Loan Bank advances 43,718 (419 ) h — 43,299 Subordinated Note 3,609 — — 3,609 Holding Company line of credit 2,300 — — 2,300 Other liabilities and accrued interest payable 313 — — 313 Total liabilities assumed 177,284 (671 ) — 176,613 Net assets acquired $ 15,117 $ 739 $ 313 $ 16,169 Cash consideration paid (28,000 ) Goodwill $ 11,831 |
Note 4 - Securities Available_2
Note 4 - Securities Available for Sale (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | (in thousands) Amortized Unrealized December 31, 2019 cost Gains Losses Fair value U.S. Treasury and other U.S. government obligations $ 49,887 $ 10 $ - $ 49,897 Government sponsored enterprise obligations 208,933 1,189 (178 ) 209,944 Mortgage backed securities - government agencies 193,574 1,243 (956 ) 193,861 Obligations of states and political subdivisions 16,919 117 — 17,036 Total securities available for sale $ 469,313 $ 2,559 $ (1,134 ) $ 470,738 December 31, 2018 Government sponsored enterprise obligations $ 264,234 $ 156 $ (3,351 ) $ 261,039 Mortgage backed securities - government agencies 149,748 282 (3,753 ) 146,277 Obligations of states and political subdivisions 29,760 107 (188 ) 29,679 Total securities available for sale $ 443,742 $ 545 $ (7,292 ) $ 436,995 |
Investments Classified by Contractual Maturity Date [Table Text Block] | (in thousands) Amortized cost Fair value Due within 1 year $ 129,251 $ 129,311 Due after 1 year but within 5 years 32,124 32,208 Due after 5 years but within 10 years 6,162 6,219 Due after 10 years 108,202 109,139 Mortgage backed securities - government agencies 193,574 193,861 Total securities available for sale $ 469,313 $ 470,738 |
Schedule of Unrealized Loss on Investments [Table Text Block] | Less than 12 months 12 months or more Total (in thousands) Fair Unrealized Fair Unrealized Fair Unrealized December 31, 2019 value losses value losses value losses Government sponsored enterprise obligations $ 16,503 $ (107 ) $ 11,492 $ (71 ) $ 27,995 $ (178 ) Mortgage-backed securities - government agencies 81,664 (496 ) 32,453 (460 ) 114,117 (956 ) Total temporarily impaired securities $ 98,167 $ (603 ) $ 43,945 $ (531 ) $ 142,112 $ (1,134 ) December 31, 2018 Government sponsored enterprise obligations $ 96,740 $ (38 ) $ 149,320 $ (3,313 ) $ 246,060 $ (3,351 ) Mortgage-backed securities - government agencies 3,108 (5 ) 120,848 (3,748 ) 123,956 (3,753 ) Obligations of states and political subdivisions 814 (1 ) 17,639 (187 ) 18,453 (188 ) Total temporarily impaired securities $ 100,662 $ (44 ) $ 287,807 $ (7,248 ) $ 388,469 $ (7,292 ) |
Note 5 - Loans (Tables)
Note 5 - Loans (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | December 31, (in thousands) 2019 2018 Commercial and industrial $ 870,511 $ 833,524 Construction and development, excluding undeveloped land(1) 213,822 225,050 Undeveloped land 46,360 30,092 Real estate mortgage: Commercial investment 736,618 588,610 Owner occupied commercial 473,783 426,373 1-4 family residential 334,358 276,017 Home equity - first lien 48,620 49,500 Home equity - junior lien 73,477 70,947 Subtotal: Real estate mortgage 1,666,856 1,411,447 Consumer 47,467 48,058 Total loans(2) $ 2,845,016 $ 2,548,171 |
Schedule of Loans and Leases Receivable, Related Parties [Table Text Block] | Years ended December 31, (in thousands) 2019 2018 Balance as of January 1 $ 52,687 $ 629 Effect of change in composition of directors and executive officers — 51,415 Repayment of term loans (184 ) — Changes in balances of revolving lines of credit (9,279 ) 643 Balance as of December 31 $ 43,224 $ 52,687 |
Schedule of Loans and Leases Receivable Outstanding Balances and Related Carrying Amounts for PCI Loans [Table Text Block] | December 31, (in thousands) 2019 Contractually-required principal $ 1,579 Non-accretable amount (1,579 ) Accretable amount — Carrying value of loans $ - |
Schedule of Loans and Leases Receivable Rollforward of the Accretable Amount on PCI Loans [Table Text Block] | Years ended December 31, (in thousands) 2019 2018 Balance, beginning of period $ (69 ) $ (106 ) Transfers between non-accretable and accretable — — Net accretion into interest income on loans, including loan fees 69 37 Balance, end of period $ - $ (69 ) |
Financing Receivable Credit Quality Indicators [Table Text Block] | (in thousands) Substandard Total December 31, 2019 Pass OAEM Substandard Non-performing Doubtful Loans Commercial and industrial $ 840,105 $ 704 $ 21,500 $ 8,202 $ — $ 870,511 Construction and development, excluding undeveloped land 213,822 — — — — 213,822 Undeveloped land 46,360 — — — — 46,360 Real estate mortgage: Commercial investment 722,747 6,459 6,275 1,137 — 736,618 Owner occupied commercial 460,981 1,375 9,050 2,377 — 473,783 1-4 family residential 332,294 1,701 122 241 — 334,358 Home equity - first lien 48,620 — — — — 48,620 Home equity - junior lien 73,273 — 17 187 — 73,477 Subtotal: Real estate mortgage 1,637,915 9,535 15,464 3,942 — 1,666,856 Consumer 47,429 — 38 — — 47,467 Total $ 2,785,631 $ 10,239 $ 37,002 $ 12,144 $ — $ 2,845,016 (in thousands) Substandard Total December 31, 2018 Pass OAEM Substandard Non-performing Doubtful Loans Commercial and industrial $ 803,073 $ 11,516 $ 18,703 $ 232 $ — $ 833,524 Construction and development, excluding undeveloped land 220,532 4,200 — 318 — 225,050 Undeveloped land 29,618 — — 474 — 30,092 Real estate mortgage: Commercial investment 586,543 1,815 15 237 — 588,610 Owner occupied commercial 411,722 9,030 4,500 1,121 — 426,373 1-4 family residential 273,537 1,544 162 774 — 276,017 Home equity - first lien 49,500 — — — — 49,500 Home equity - junior lien 70,437 249 19 242 — 70,947 Subtotal: Real estate mortgage 1,391,739 12,638 4,696 2,374 — 1,411,447 Consumer 48,058 — — — — 48,058 Total $ 2,493,020 $ 28,354 $ 23,399 $ 3,398 $ — $ 2,548,171 |
Financing Receivable, Allowance for Credit Loss [Table Text Block] | Type of loan Construction and development, Commercial excluding and undeveloped Undeveloped Real estate (in thousands) industrial land land mortgage Consumer Total Balance, January 1, 2019 $ 11,965 $ 1,760 $ 752 $ 10,681 $ 376 $ 25,534 Provision (credit) 684 (644 ) 34 1,021 (95 ) 1,000 Charge-offs (94 ) — — (38 ) (552 ) (684 ) Recoveries 267 203 — 100 371 941 Balance, December 31, 2019 $ 12,822 $ 1,319 $ 786 $ 11,764 $ 100 $ 26,791 Type of loan Construction and development, Commercial excluding and undeveloped Undeveloped Real estate (in thousands) industrial land land mortgage Consumer Total Balance, January 1, 2018 $ 11,276 $ 1,724 $ 521 $ 11,012 $ 352 $ 24,885 Provision (credit) 2,539 36 231 (261 ) 160 2,705 Charge-offs (2,404 ) — — (132 ) (476 ) (3,012 ) Recoveries 554 — — 62 340 956 Balance, December 31, 2018 $ 11,965 $ 1,760 $ 752 $ 10,681 $ 376 $ 25,534 Type of loan Construction and development, Commercial excluding and undeveloped Undeveloped Real estate (in thousands) industrial land land mortgage Consumer Total Balance, January 1, 2017 $ 10,483 $ 1,923 $ 684 $ 10,573 $ 344 $ 24,007 Provision (credit) 2,373 (199 ) (163 ) 383 156 2,550 Charge-offs (1,782 ) — — (98 ) (549 ) (2,429 ) Recoveries 202 — — 154 401 757 Balance, December 31, 2017 $ 11,276 $ 1,724 $ 521 $ 11,012 $ 352 $ 24,885 (in thousands) Loans Allowance December 31, 2019 Loans individually evaluated for impairment Loans collectively evaluated for impairment Loans acquired with deteriorated credit quality Total loans Loans individually evaluated for impairment Loans collectively evaluated for impairment Loans acquired with deteriorated credit quality Total allowance Commercial and industrial $ 8,223 $ 862,288 $ — $ 870,511 $ 1,150 $ 11,672 $ — $ 12,822 Construction and development, excluding undeveloped land — 213,822 — 213,822 — 1,319 — 1,319 Undeveloped land — 46,360 — 46,360 — 786 — 786 Real estate mortgage 3,307 1,663,549 — 1,666,856 13 11,751 — 11,764 Consumer — 47,467 — 47,467 — 100 — 100 Total $ 11,530 $ 2,833,486 $ — $ 2,845,016 $ 1,163 $ 25,628 $ — $ 26,791 (in thousands) Loans Allowance December 31, 2018 Loans individually evaluated for impairment Loans collectively evaluated for impairment Loans acquired with deteriorated credit quality Total loans Loans individually evaluated for impairment Loans collectively evaluated for impairment Loans acquired with deteriorated credit quality Total allowance Commercial and industrial $ 220 $ 833,304 $ — $ 833,524 $ 28 $ 11,937 $ — $ 11,965 Construction and development, excluding undeveloped land 318 224,732 — 225,050 — 1,760 — 1,760 Undeveloped land 474 29,618 — 30,092 — 752 — 752 Real estate mortgage 1,641 1,409,806 — 1,411,447 14 10,667 — 10,681 Consumer — 48,058 — 48,058 — 376 — 376 Total $ 2,653 $ 2,545,518 $ — $ 2,548,171 $ 42 $ 25,492 $ — $ 25,534 |
Financing Receivable, Nonaccrual [Table Text Block] | Past Due 90-Days-or-More Non-accrual and Still Accruing Interest (in thousands) December 31, 2019 December 31, 2018 December 31, 2019 December 31, 2018 Commercial and industrial $ 8,202 $ 192 $ — $ 12 Construction and development, excluding undeveloped land — 318 — — Undeveloped land — 474 — — Real estate mortgage: Commercial investment 740 138 396 99 Owner occupied commercial 2,278 586 — 535 1-4 family residential 123 760 104 — Home equity - first lien — — — — Home equity - junior lien 151 143 35 99 Subtotal: Real estate mortgage 3,292 1,627 535 733 Consumer — — — — Total loans $ 11,494 $ 2,611 $ 535 $ 745 |
Financing Receivable, Troubled Debt Restructuring [Table Text Block] | December 31, 2019 December 31, 2018 Specific Additional Specific Additional reserve commitment reserve commitment (in thousands) Balance allocation to lend Balance allocation to lend Commercial and industrial $ 21 $ 21 $ — $ 28 $ 28 $ — 1-4 family residential 13 13 — 14 14 — Total TDRs $ 34 $ 34 $ — $ 42 $ 42 $ — |
Impaired Financing Receivables [Table Text Block] | As of Twelve Months Ended December 31, 2019 December 31, 2019 Unpaid Average Interest Recorded principal Related recorded income (in thousands) investment balance allowance investment recognized Impaired loans with no related allowance: Commercial and industrial $ 174 $ 174 $ — $ 166 $ — Construction and development, excluding undeveloped land — — — 64 — Undeveloped land — — — 95 — Real estate mortgage Commercial investment 741 741 — 448 — Owner occupied commercial 2,278 2,736 — 1,437 — 1-4 family residential 124 124 — 516 — Home equity - first lien — — — — — Home equity - junior lien 151 151 — 293 — Subtotal: Real estate mortgage 3,294 3,752 — 2,694 — Consumer — — — — — Subtotal $ 3,468 $ 3,926 $ — $ 3,019 $ — Impaired loans with an allowance: Commercial and industrial $ 8,049 $ 8,049 $ 1,150 $ 1,631 $ — Construction and development, excluding undeveloped land — — — — — Undeveloped land — — — — — Real estate mortgage Commercial investment — — — — — Owner occupied commercial — — — — — 1-4 family residential 13 13 13 13 — Home equity - first lien — — — — — Home equity - junior lien — — — — — Subtotal: Real estate mortgage 13 13 13 13 — Consumer — — — — — Subtotal $ 8,062 $ 8,062 $ 1,163 $ 1,644 $ — Total: Commercial and industrial $ 8,223 $ 8,223 $ 1,150 $ 1,797 $ — Construction and development, excluding undeveloped land — — — 64 — Undeveloped land — — — 95 — Real estate mortgage Commercial investment 741 741 — 448 — Owner occupied commercial 2,278 2,736 — 1,437 — 1-4 family residential 137 137 13 529 — Home equity - first lien — — — — — Home equity - junior lien 151 151 — 293 — Subtotal: Real estate mortgage 3,307 3,765 13 2,707 — Consumer — — — — — Total impaired loans $ 11,530 $ 11,988 $ 1,163 $ 4,663 $ — As of Twelve Months Ended December 31, 2018 December 31, 2018 Unpaid Average Interest Recorded principal Related recorded income (in thousands) investment balance allowance investment recognized Impaired loans with no related allowance: Commercial and industrial $ 192 $ 707 $ — $ 161 $ — Construction and development, excluding undeveloped land 318 489 — 437 — Undeveloped land 474 506 — 474 — Real estate mortgage Commercial investment 138 138 — 35 — Owner occupied commercial 586 1,023 — 1,503 — 1-4 family residential 760 760 — 1,242 — Home equity - first lien — — — — — Home equity - junior lien 143 143 — 73 — Subtotal: Real estate mortgage 1,627 2,064 — 2,853 — Consumer — — — 23 — Subtotal $ 2,611 $ 3,766 $ — $ 3,948 $ — Impaired loans with an allowance: Commercial and industrial $ 28 $ 28 $ 28 $ 1,851 $ 2 Construction and development, excluding undeveloped land — — — — — Undeveloped land — — — 24 — Real estate mortgage Commercial investment — — — — — Owner occupied commercial — — — 897 — 1-4 family residential 14 14 14 14 1 Home equity - first lien — — — — — Home equity - junior lien — — — — — Subtotal: Real estate mortgage 14 14 14 911 1 Consumer — — — — — Subtotal $ 42 $ 42 $ 42 $ 2,786 $ 3 Total: Commercial and industrial $ 220 $ 735 $ 28 $ 2,012 $ 2 Construction and development, excluding undeveloped land 318 489 — 437 — Undeveloped land 474 506 — 498 — Real estate mortgage Commercial investment 138 138 — 35 — Owner occupied commercial 586 1,023 — 2,400 — 1-4 family residential 774 774 14 1,256 1 Home equity - first lien — — — — — Home equity - junior lien 143 143 — 73 — Subtotal: Real estate mortgage 1,641 2,078 14 3,764 1 Consumer — — — 23 — Total impaired loans $ 2,653 $ 3,808 $ 42 $ 6,734 $ 3 As of Twelve Months Ended December 31, 2017 December 31, 2017 Unpaid Average Interest Recorded principal Related recorded income (in thousands) investment balance allowance investment recognized Impaired loans with no related allowance: Commercial and industrial $ 1,142 $ 2,202 $ — $ 411 $ — Construction and development, excluding undeveloped land 664 834 — 559 — Undeveloped land 474 506 — 425 — Real estate mortgage Commercial investment 52 53 — 110 — Owner occupied commercial 3,332 3,789 — 1,678 — 1-4 family residential 1,637 1,657 — 935 — Home equity - first lien — — — — — Home equity - junior lien 31 31 — 186 — Subtotal: Real estate mortgage 5,052 5,530 — 2,909 — Consumer — — — — — Subtotal $ 7,332 $ 9,072 $ — $ 4,304 $ — Impaired loans with an allowance: Commercial and industrial $ 34 $ 34 $ 34 $ 1,882 $ 78 Construction and development, excluding undeveloped land — — — — — Undeveloped land — — — 48 — Real estate mortgage Commercial investment — — — — — Owner occupied commercial — — — — — 1-4 family residential 14 14 14 5 — Home equity - first lien — — — — — Home equity - junior lien — — — — — Subtotal: Real estate mortgage 14 14 14 5 — Consumer — — — 46 — Subtotal $ 48 $ 48 $ 48 $ 1,981 $ 78 Total: Commercial and industrial $ 1,176 $ 2,236 $ 34 $ 2,293 $ 78 Construction and development, excluding undeveloped land 664 834 — 559 — Undeveloped land 474 506 — 473 — Real estate mortgage Commercial investment 52 53 — 110 — Owner occupied commercial 3,332 3,789 — 1,678 — 1-4 family residential 1,651 1,671 14 940 — Home equity - first lien — — — — — Home equity - junior lien 31 31 — 186 — Subtotal: Real estate mortgage 5,066 5,544 14 2,914 — Consumer — — — 46 — Total impaired loans $ 7,380 $ 9,120 $ 48 $ 6,285 $ 78 |
Financing Receivable, Past Due [Table Text Block] | 90 or More Days Past Due (in thousands) 30-59 Days 60-89 days (includes all Total Total December 31, 2019 Current Past Due Past Due non-accrual) Past Due Loans Commercial and industrial $ 861,860 $ 253 $ 194 $ 8,204 $ 8,651 $ 870,511 Construction and development, excluding undeveloped land 213,766 6 50 — 56 213,822 Undeveloped land 46,360 — — — — 46,360 Real estate mortgage: Commercial investment 735,387 94 — 1,137 1,231 736,618 Owner occupied commercial 470,951 467 86 2,279 2,832 473,783 1-4 family residential 332,718 1,368 33 239 1,640 334,358 Home equity - first lien 48,441 179 — — 179 48,620 Home equity - junior lien 72,995 196 100 186 482 73,477 Subtotal: Real estate mortgage 1,660,492 2,304 219 3,841 6,364 1,666,856 Consumer 47,379 84 4 — 88 47,467 Total $ 2,829,857 $ 2,647 $ 467 $ 12,045 $ 15,159 $ 2,845,016 90 or More Days Past Due (in thousands) 30-59 Days 60-89 days (includes all Total Total December 31, 2018 Current Past Due Past Due non-accrual) Past Due Loans Commercial and industrial $ 832,923 $ 197 $ 200 $ 204 $ 601 $ 833,524 Construction and development, excluding undeveloped land 224,732 — — 318 318 225,050 Undeveloped land 29,552 66 — 474 540 30,092 Real estate mortgage: Commercial investment 586,884 1,382 107 237 1,726 588,610 Owner occupied commercial 421,143 2,732 1,377 1,121 5,230 426,373 1-4 family residential 274,547 374 336 760 1,470 276,017 Home equity - first lien 49,321 179 — — 179 49,500 Home equity - junior lien 70,467 182 56 242 480 70,947 Subtotal: Real estate mortgage 1,402,362 4,849 1,876 2,360 9,085 1,411,447 Consumer 48,058 — — — — 48,058 Total $ 2,537,627 $ 5,112 $ 2,076 $ 3,356 $ 10,544 $ 2,548,171 |
King Bancorp Inc. [Member] | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | May 1, 2019 Contractual Non-accretable Accretable Acquisition-day (in thousands) receivable amount amount fair value Commercial and industrial $ 8,249 $ — $ (23 ) $ 8,226 Construction and development 10,764 — 43 10,807 Raw Land 7,974 — 43 8,017 Real estate mortgage: Commercial real estate 84,219 — (456 ) 83,763 1-4 family residential 50,556 — 322 50,878 Home equity - first lien 196 — 3 199 Home equity - junior lien 679 — 5 684 Subtotal: Real estate mortgage 135,650 — (126 ) 135,524 Consumer 1,528 — (73 ) 1,455 Total loans ASC 310-20 164,165 — (136 ) 164,029 Commercial and industrial Construction and development — — — — Raw Land — — — — Real estate mortgage: Commercial real estate 1,351 (1,351 ) — — 1-4 family residential 228 (228 ) — — Home equity - first lien — — — — Home equity - junior lien — — — — Subtotal: Real estate mortgage 1,579 (1,579 ) — — Consumer — — — — Total loans ASC 310 purchased- credit-impaired loans 1,579 (1,579 ) — — Total loans $ 165,744 $ (1,579 ) $ (136 ) $ 164,029 |
Note 6 - Premises and Equipme_2
Note 6 - Premises and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | December 31, (in thousands) 2019 2018 Land $ 10,241 $ 9,664 Buildings and improvements 50,809 47,726 Furniture and equipment 22,032 21,793 Construction in progress 623 1,051 Right-of-use operating lease asset 12,737 - 96,442 80,234 Accumulated depreciation and amortization (37,824 ) (35,470 ) Total premises and equipment $ 58,618 $ 44,764 |
Detail Regarding Operating Leases of Lessee [Table Text Block] | (dollars in thousands) December 31, 2019 Balance Sheet Operating lease right-of-use asset $ 12,737 Operating lease liability 14,369 Weighted average remaining lease term 9.38 Weighted average discount rate 2.46 % Maturities of lease liabilities: One year or less $ 1,964 Year 2 1,915 Year 3 1,930 Year 4 1,972 Year 5 1,781 Greater than 5 years 6,619 Total lease payments $ 16,181 Less imputed interest 1,812 Total $ 14,369 Year Ended (In thousands) December 31, 2019 Income Statement Components of lease expense: Operating lease cost $ 1,870 Variable lease cost 152 Less sublease income 54 Total lease cost $ 1,968 (In thousands) Cash flow Statement Supplemental cash flow information: Operating cash flows from operating leases $ 1,656 |
Note 7 - Goodwill and Core De_2
Note 7 - Goodwill and Core Deposit Intangibles (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Goodwill [Table Text Block] | December 31, (in thousands) 2019 2018 Balance at beginning of period $ 682 $ 682 Goodwill acquired 12,144 — Recast adjustments (313 ) — Impairment — — Balance at end of period $ 12,513 $ 682 |
Finite-lived Intangible Assets Amortization Expense [Table Text Block] | Years ended December 31, (in thousands) 2019 2018 2017 Balance, beginning of period $ 1,057 $ 1,225 $ 1,405 Additions 1,519 — — Amortized to expense (291 ) (168 ) (180 ) Balance, end of period $ 2,285 $ 1,057 $ 1,225 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | (in thousands) 2020 $ 323 2021 302 2022 295 2023 259 2024 241 Beyond 2024 865 Total future payments $ 2,285 |
Note 8 - Other Assets (Tables)
Note 8 - Other Assets (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Other Assets [Table Text Block] | December 31, (in thousands) 2019 2018 Cash surrender value of life insurance other than BOLI $ 16,145 $ 15,029 Net deferred tax asset 14,466 10,193 Investments in tax credit related ventures 6,248 4,537 Prepaid assets 2,812 3,072 Trust fee receivable 2,171 1,939 Mortgage servicing rights 1,372 1,022 Other real estate owned 493 1,018 Other 7,232 8,362 Total other assets $ 50,939 $ 45,172 |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | Years ended December 31, (in thousands) 2019 2018 2017 Balance, beginning of period $ 1,022 $ 875 $ 921 Additions 506 302 225 Amortized to expense (156 ) (155 ) (271 ) Balance, end of period $ 1,372 $ 1,022 $ 875 |
Note 9 - Income Taxes (Tables)
Note 9 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Years Ended December 31, (in thousands) 2019 2018 2017 Current income tax expense: Federal $ 14,673 $ 11,567 $ 12,622 State 772 732 546 Total current income tax expense 15,445 12,299 13,168 Deferred income tax expense (benefit) : Federal (746 ) (52 ) 3,783 State (2,872 ) (289 ) (4 ) Total deferred income tax expense (benefit) (3,618 ) (341 ) 3,779 Change in valuation allowance (2,234 ) 73 192 Total income tax expense $ 9,593 $ 12,031 $ 17,139 |
Schedule of Income Tax Expense Benefit, Recorded Directly to Stockholders Equity [Table Text Block] | Years Ended December 31, (in thousands) 2019 2018 2017 Unrealized (loss) gain on securities available for sale $ 1,757 $ (812 ) $ (531 ) Reclassification adjustment for securities losses realized in income — — 81 Unrealized gain on derivatives (120 ) 46 112 Minimum pension liability adjustment (58 ) 46 (9 ) Total income tax (benefit) expense recorded directly to stockholders' equity $ 1,579 $ (720 ) $ (347 ) |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Years Ended December 31, 2019 2018 2017 U.S. federal statutory income tax rate 21.0 % 21.0 % 35.0 % Kentucky state income tax enactments (5.2 ) — — Net deferred tax asset remeasurement — (0.5 ) 10.8 Excess tax benefits from stock-based compensation arrangements (1.0 ) (0.8 ) (2.6 ) Increase in cash surrender value of life insurance (0.9 ) (0.4 ) (1.5 ) Tax credits (1.9 ) (1.8 ) (14.4 ) Tax exempt interest income (0.3 ) (0.4 ) (1.2 ) Amortization/impairment of investments in tax credit partnerships 0.3 0.4 3.4 State income taxes, net of federal benefit 0.7 0.8 0.7 Other, net — (0.5 ) 0.9 Effective tax rate 12.7 % 17.8 % 31.1 % |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | December 31, (in thousands) 2019 2018 Deferred tax assets Allowance for loan loss $ 6,633 $ 5,567 Deferred compensation 5,758 4,703 Operating lease liability 3,427 — State net operating loss 2,550 2,201 Accrued expenses 1,486 968 Securities — 756 Investments in tax credit partnerships 655 543 Loans 501 434 Other assets 228 181 Write-downs and costs associated with other real estate owned 22 7 Total deferred tax assets 21,260 15,360 Deferred tax liabilities Property and equipment 1,054 1,154 Right-of-use operating lease asset 3,154 — Securities 748 — Loan costs 767 632 Mortgage servicing rights 299 193 Leases 266 336 Core deposit intangible 202 230 Other liabilities 183 267 Total deferred tax liabilities 6,673 2,812 Valuation allowance (121 ) (2,355 ) Net deferred tax asset $ 14,466 $ 10,193 |
Note 10 - Deposits (Tables)
Note 10 - Deposits (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Deposit Liabilities, Type [Table Text Block] | December 31, (in thousands) 2019 2018 Non-interest bearing demand deposits $ 810,475 $ 711,023 Interest bearing deposits: Interest bearing demand 979,595 892,867 Savings 169,622 155,007 Money market 742,029 688,744 Time deposits of $250,000 or more 81,412 55,182 Other time deposits 350,805 291,533 Total time deposits(1) 432,217 346,715 Total interest bearing deposits 2,323,463 2,083,333 Total deposits $ 3,133,938 $ 2,794,356 |
Time Deposit Maturities [Table Text Block] | (in thousands) 2020 $ 273,568 2021 129,676 2022 11,729 2023 10,049 2024 7,094 2025 and thereafter 101 Total time deposits $ 432,217 |
Note 11 - Securities Sold Und_2
Note 11 - Securities Sold Under Agreements to Repurchase (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Short-term Debt [Table Text Block] | December 31, (Dollars in thousands) 2019 2018 Outstanding balance at end of period $ 31,895 $ 36,094 Weighted average interest rate at end of period 0.22 % 0.27 % Years Ended December 31, (dollars in thousands) 2019 2018 2017 Average outstanding balance during the period $ 38,555 $ 62,580 $ 70,187 Average interest rate during the period 0.26 % 0.25 % 0.19 % Maximum outstanding at any month end during the period $ 52,599 $ 74,725 $ 75,365 |
Note 12 - FHLB Advances (Tables
Note 12 - FHLB Advances (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Maturities and Average Effective Interest Rates of Federal Home Loan Bank Advances Disclosure [Table Text Block] | (dollars in thousands) December 31, 2019 December 31, 2018 Maturity Weighted average Weighted average Year Advance Fixed Rate Advance Fixed Rate 2020 $ 50,004 1.99 $ 1,691 2.23 2021 2,400 2.52 215 2.12 2023 456 1.00 — — 2024 2,023 2.36 2,240 2.36 2025 3,774 2.41 4,626 2.42 2026 8,156 1.96 8,185 1.99 2027 7,445 1.73 — — 2028 5,695 2.32 1,220 1.49 Total $ 79,953 2.02 % $ 18,177 2.14 % |
Federal Home Loan Bank, Advances [Table Text Block] | (dollars in thousands) Year 2020 $ 55,680 2021 6,004 2022 3,193 2023 2,655 2024 3,122 2025 and beyond 9,299 |
Note 13 - Other Comprehensive_2
Note 13 - Other Comprehensive Income (Loss) (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Net unrealized Net unrealized Minimum gains (losses) gains (losses) pension on securities on cash liability (in thousands) available for sale flow hedges adjustment Total Balance, January 1, 2017 $ (1,211 ) $ (16 ) $ (272 ) $ (1,499 ) Net current period other comprehensive income (loss) (721 ) 209 (70 ) (582 ) Amounts reclassifed from AOCI 151 — — 151 Balance, December 31, 2017 (1) $ (1,781 ) $ 193 $ (342 ) $ (1,930 ) Balance, January 1, 2018 $ (1,781 ) $ 193 $ (342 ) $ (1,930 ) Net current period other comprehensive income (loss) (3,053 ) 174 173 (2,706 ) Reclassification adjustment for adoption of ASU 2018-02 (496 ) 41 (51 ) (506 ) Balance, December 31, 2018 $ (5,330 ) $ 408 $ (220 ) $ (5,142 ) Balance, January 1, 2019 $ (5,330 ) $ 408 $ (220 ) $ (5,142 ) Net current period other comprehensive income (loss) 6,415 (445 ) (151 ) 5,819 Balance, December 31, 2019 $ 1,085 $ (37 ) $ (371 ) $ 677 |
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | Details of accumulated Affected line item in other comprehensive Amount reclassified from accumulated the consolidated income (loss) components other comprehensive income (loss) statements of income (in thousands) For the years ended December 31, 2019 2018 2017 Unrealized gains (losses) on securities available for sale: Realized loss on sale of securities available for sale $ — $ — $ (232 ) Loss on sale of securities Effect of income taxes — — 81 Income tax expense Reclassification, net of income taxes $ — $ — $ (151 ) |
Note 15 - Net Income Per Share
Note 15 - Net Income Per Share (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Years Ended December 31 , (in thousands, except per share data) 2019 2018 2017 Net income $ 66,067 $ 55,517 $ 38,043 Weighted average shares outstanding - basic 22,598 22,619 22,532 Dilutive securities 267 325 451 Weighted average shares outstanding - diluted 22,865 22,944 22,983 Net income per share - basic $ 2.92 $ 2.45 $ 1.69 Net income per share - diluted $ 2.89 $ 2.42 $ 1.66 |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | Years Ended December 31, (in thousands) 2019 2018 Antidilutive SARs 199 146 |
Note 16 - Employee Benefit Pl_2
Note 16 - Employee Benefit Plans (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Expected Benefit Payments [Table Text Block] | (in thousands) 2020 $ 84 2021 — 2022 — 2023 — 2024 137 Beyond 2024 3,141 Total future payments $ 3,362 |
Note 17 - Stock-based Compens_2
Note 17 - Stock-based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Share-based Compensation Arrangement by Share-based Payment Award Fair Value Assumptions and Methodology [Table Text Block] | 2019 2018 2017 Dividend yield 2.54 % 2.56 % 2.72 % Expected volatility 20.39 % 20.17 % 19.47 % Risk free interest rate 2.52 % 2.96 % 2.29 % Expected life of SARs (years) 7.2 7.0 7.0 |
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | Year Ended December 31, 2019 (in thousands) Stock Appreciation Rights Restricted Stock Awards Restricted Stock Units Performance Stock Units Total Expense $ 345 $ 1,185 $ 329 $ 1,719 $ 3,578 Deferred tax benefit (72 ) (249 ) (69 ) (361 ) (751 ) Total net expense $ 273 $ 936 $ 260 $ 1,358 $ 2,827 Year Ended December 31, 2018 (in thousands) Stock Appreciation Rights Restricted Stock Awards Restricted Stock Units Performance Stock Units Total Expense $ 379 $ 1,100 $ 248 $ 2,300 $ 4,027 Deferred tax benefit (80 ) (231 ) (52 ) (483 ) (846 ) Total net expense $ 299 $ 869 $ 196 $ 1,817 $ 3,181 Year Ended December 31, 2017 (in thousands) Stock Appreciation Rights Restricted Stock Awards Restricted Stock Units Performance Stock Units Total Expense $ 280 $ 1,032 $ 219 $ 1,361 $ 2,892 Deferred tax benefit (59 ) (216 ) (46 ) (286 ) (607 ) Total net expense $ 221 $ 816 $ 173 $ 1,075 $ 2,285 |
Share-based Payment Arrangement, Nonvested Award, Cost [Table Text Block] | (in thousands) Stock Appreciation Rights Restricted Stock Awards Restricted Stock Units Performance Stock Units Total 2020 $ 306 $ 1,035 $ 2 $ 853 $ 2,196 2021 248 816 — 462 1,526 2022 193 547 — — 740 2023 118 302 — — 420 2024 11 24 — — 35 2025 — — — — - Total estimated expense $ 876 $ 2,724 $ 2 $ 1,315 $ 4,917 |
Share-based Payment Arrangement, Option and Stock Appreciation Rights, Activity [Table Text Block] | Weighted Weighted Weighted average average Aggregate average remaining Exercise exercise intrinsic fair contractual (in thousands, except per share and years) SARs price price value (1) value life (in years) Outstanding, January 1, 2017 735 $14.02 - $33.08 $ 17.78 $ 21,443 $ 3.26 5.5 Granted 46 40.00 - 40.00 40.00 — 6.34 Exercised (77 ) 14.02 - 17.89 15.41 1,855 3.18 Forfeited — - - — — Outstanding, December 31, 2017 704 $14.02 - $40.00 $ 19.51 $ 12,923 $ 3.47 5.1 Outstanding, January 1, 2018 704 $14.02 - $40.00 $ 19.51 $ 12,923 $ 3.47 5.1 Granted 100 35.90 - 39.32 37.75 — 6.07 Exercised (73 ) 14.02 - 19.37 15.32 1,654 3.43 Forfeited — - - — — Outstanding, December 31, 2018 731 $14.02 - $40.00 $ 22.42 $ 8,422 $ 3.83 5.2 Outstanding, January 1, 2019 731 $14.02 - $40.00 $ 22.42 $ 8,422 $ 3.83 5.2 Granted 53 36.65 - 38.18 37.01 213 6.24 Exercised (143 ) 14.02 - 22.96 15.99 3,025 3.47 Forfeited — - - — — Outstanding, December 31, 2019 641 $14.02 - $40.00 $ 25.06 $ 10,250 $ 4.10 5.3 Vested and exercisable 439 $14.02 - $40.00 $ 20.53 $ 9,017 $ 3.42 4.0 Unvested 202 22.96 - 40.00 34.93 1,233 5.59 7.9 Outstanding, December 31, 2019 641 $14.02 - $40.00 $ 25.06 $ 10,250 $ 4.10 5.3 Vested during 2019 91 $19.37 - $40.00 $ 28.80 $ 1,110 $ 4.66 |
Schedule of Share-based Compensation, Stock Options and Stock Appreciation Rights, Award Expiration Period [Table Text Block] | (in thousands, except per share data) Expiration SARs Outstanding SARs Exercisable Weighted Average Exercise Price 2020 3 3 $ 14.02 2021 27 27 15.88 2022 108 108 15.25 2023 80 80 15.26 2024 73 73 19.37 2025 63 49 23.00 2026 88 55 25.84 2027 46 21 40.00 2028 100 23 37.75 2029 53 — 37.01 641 439 $ 25.06 |
Schedule of Nonvested Share Activity [Table Text Block] | Grant date weighted (in thousands, except per share data) RSAs average cost Unvested at January 1, 2017 145 $ 21.57 Shares awarded 29 44.85 Restrictions lapsed and shares released (47 ) 19.79 Shares forfeited (8 ) 25.18 Unvested at December 31, 2017 119 $ 27.62 Unvested at January 1, 2018 119 $ 27.62 Shares awarded 40 35.89 Restrictions lapsed and shares released (44 ) 23.62 Shares forfeited (5 ) 31.35 Unvested at December 31, 2018 110 $ 32.09 Unvested at January 1, 2019 110 $ 32.09 Shares awarded 40 34.88 Restrictions lapsed and shares released (40 ) 28.74 Shares forfeited (2 ) 35.36 Unvested at December 31, 2019 108 $ 34.31 |
Share-based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block] | Grant Year Vesting Period in Years Fair Value Expected Shares to be Awarded 2017 3 $ 35.66 61,893 2018 3 31.54 50,352 2019 3 32.03 43,603 |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares to be Issued Upon Exercise and Remaining Shares Available for Future Issuance [Table Text Block] | Number of Shares shares to be Weighted available for issued upon average future Plan category (in thousands) exercising/vesting exercise price issuance (a) Equity compensation plans approved by security holders: Stock Appreciation Rights (b) (b) 547 Restricted Stock Awards 108 N/A (a) Restricted Stock Units 10 N/A (a) Performance Stock Units (c) N/A (a) Total shares 118 547 |
Note 19 - Commitments and Con_2
Note 19 - Commitments and Contingent Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Off Balance Sheet Commitments to Extend Credit [Table Text Block] | December 31, (in thousands) 2019 2018 Commercial and industrial $ 416,195 $ 309,920 Construction and development 240,503 179,364 Home equity lines of credit 155,920 147,907 Credit cards 26,439 20,003 Overdrafts 32,715 21,751 Letters of credit 24,193 20,891 Other 40,083 33,369 Future loan commitments 236,885 101,399 Total off balance sheet commitments to extend credit $ 1,172,933 $ 834,604 |
Note 20 - Assets and Liabilit_2
Note 20 - Assets and Liabilities Measured and Reported at Fair Value (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | (in thousands) Fair value at December 31, 2019 Assets Total Level 1 Level 2 Level 3 Securities available for sale: U.S. Treasury and other U.S. government obligations $ 49,897 $ 49,897 $ — $ — Government sponsored enterprise obligations 209,944 — 209,944 — Mortgage backed securities - government agencies 193,861 — 193,861 — Obligations of states and political subdivisions 17,036 — 17,036 — Total securities available for sale 470,738 49,897 420,841 — Interest rate swaps 2,696 — 2,696 — Total assets $ 473,434 $ 49,897 $ 423,537 $ — Liabilities Interest rate swaps $ 2,767 $ — $ 2,767 $ — (in thousands) Fair value at December 31, 2018 Assets Total Level 1 Level 2 Level 3 Securities available for sale: Government sponsored enterprise obligations $ 261,039 $ — $ 261,039 $ — Mortgage backed securities - government agencies 146,277 — 146,277 — Obligations of states and political subdivisions 29,679 — 29,679 — Total securities available for sale 436,995 — 436,995 — Interest rate swaps 1,035 — 1,035 — Total assets $ 438,030 $ — $ 438,030 $ — Liabilities Interest rate swaps $ 543 $ — $ 543 $ — |
Fair Value Measurements, Nonrecurring [Table Text Block] | Fair value at December 31, 2019 Losses (in thousands) Total Level 1 Level 2 Level 3 Recorded Impaired loans $ 7,253 $ — $ — $ 7,253 $ (20 ) Other real estate owned 493 — — 493 (70 ) Fair value at December 31, 2018 Losses (in thousands) Total Level 1 Level 2 Level 3 Recorded Impaired loans $ 925 $ — $ — $ 925 $ (514 ) Other real estate owned 239 — — 239 (32 ) |
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block] | December 31, 2019 (dollars in thousands) Fair Value Valuation Technique Unobservable Inputs Weighted Average Impaired loans - collateral dependent $ 7,253 Appraisal Appraisal discounts 60.3 % Other real estate owned 493 Appraisal Appraisal discounts 17.1 December 31, 2018 (dollars in thousands) Fair Value Valuation Technique Unobservable Inputs Weighted Average Impaired loans - collateral dependent $ 925 Appraisal Appraisal discounts 9.9 % Other real estate owned 239 Appraisal Appraisal discounts 22.0 |
Note 21 - Disclosure of Finan_2
Note 21 - Disclosure of Financial Instruments Not Reported at Fair Value (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Fair Value, by Balance Sheet Grouping [Table Text Block] | (In thousands) Carrying December 31, 2019 amount Fair value Level 1 Level 2 Level 3 Assets Cash and cash equivalents $ 249,724 $ 249,724 $ 249,724 $ — $ — Mortgage loans held for sale 8,748 8,923 — 8,923 — Federal Home Loan Bank stock 11,316 11,316 — 11,316 — Loans, net 2,818,225 2,841,767 — — 2,841,767 Accrued interest receivable 8,534 8,534 8,534 — — Liabilities Non-interest bearing deposits $ 810,475 $ 810,475 $ 810,475 $ — $ — Transaction deposits 1,891,246 1,891,246 — 1,891,246 — Time deposits 432,217 434,927 — 434,927 — Securities sold under agreement to repurchase 31,895 31,895 — 31,895 — Federal funds purchased 10,887 10,887 — 10,887 — FHLB advances 79,953 80,906 — 80,906 — Accrued interest payable 640 640 640 — — (In thousands) Carrying December 31, 2018 amount Fair value Level 1 Level 2 Level 3 Assets Cash and cash equivalents $ 198,939 $ 198,939 $ 198,939 $ — $ — Mortgage loans held for sale 1,675 1,743 — 1,743 — Federal Home Loan Bank stock 10,370 10,370 — 10,370 — Loans, net 2,522,637 2,508,587 — — 2,508,587 Accrued interest receivable 8,360 8,360 8,360 — — Liabilities Non-interest bearing deposits $ 711,023 $ 711,023 $ 711,023 $ — $ — Transaction deposits 1,736,618 1,736,618 — 1,736,618 — Time deposits 346,715 345,273 — 345,273 — Securities sold under agreement to repurchase 36,094 36,094 — 36,094 — Federal funds purchased 10,247 10,247 — 10,247 — FHLB advances 48,177 47,227 — 47,227 — Accrued interest payable 762 762 762 — — |
Note 22 - Derivative Financia_2
Note 22 - Derivative Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Designated as Hedging Instrument [Member] | |
Notes Tables | |
Schedule of Interest Rate Derivatives [Table Text Block] | Fair value (dollars in thousands) Pay fixed December 31, Notional Maturity Receive (variable) index swap rate 2019 2018 $ 10,000 12/6/2021 US 3 Month LIBOR 1.89 % $ (45 ) $ 193 20,000 12/6/2020 US 3 Month LIBOR 1.79 (6 ) 323 $ 30,000 1.82 $ (51 ) $ 516 |
Not Designated as Hedging Instrument [Member] | |
Notes Tables | |
Schedule of Interest Rate Derivatives [Table Text Block] | Receiving Paying December 31, December 31, December 31, December 31, (dollars in thousands) 2019 2018 2019 2018 Notional amount $ 99,000 $ 55,505 $ 99,000 $ 55,505 Weighted average maturity (years) 8.2 8.0 8.2 8.0 Fair value $ 2,696 $ 519 $ 2,767 $ 543 |
Note 23 - Regulatory Matters (T
Note 23 - Regulatory Matters (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | (dollars in thousands) Actual Minimum for adequately capitalized Minimum for well capitalized December 31, 2019 Amount Ratio Amount Ratio Amount Ratio Total risk-based capital (1) Consolidated $ 418,460 12.85 % $ 260,448 8.00 % NA NA Bank 396,299 12.20 259,823 8.00 $ 324,778 10.00 % Common equity tier 1 risk-based capital Consolidated 391,319 12.02 146,502 4.50 NA NA Bank 369,158 11.37 146,150 4.50 211,106 6.50 Tier 1 risk-based capital (1) Consolidated 391,319 12.02 195,336 6.00 NA NA Bank 369,158 11.37 194,867 6.00 259,823 8.00 Leverage (2) Consolidated 391,319 10.60 147,733 4.00 NA NA Bank 369,158 10.67 138,392 4.00 172,990 5.00 (dollars in thousands) Actual Minimum for adequately capitalized Minimum for well capitalized December 31, 2018 Amount Ratio Amount Ratio Amount Ratio Total risk-based capital (1) Consolidated $ 396,019 13.91 % $ 227,714 8.00 % NA NA Bank 385,637 13.56 227,462 8.00 $ 284,327 10.00 % Common equity tier 1 risk-based capital Consolidated 370,135 13.00 128,089 4.50 NA NA Bank 359,753 12.65 127,947 4.50 184,813 6.50 Tier 1 risk-based capital (1) Consolidated 370,135 13.00 170,785 6.00 NA NA Bank 359,753 12.65 170,596 6.00 227,462 8.00 Leverage (2) Consolidated 370,135 11.33 130,698 4.00 NA NA Bank 359,753 11.02 130,569 4.00 163,211 5.00 |
Note 24 - Stock Yards Bancorp_2
Note 24 - Stock Yards Bancorp, Inc. (Parent Company Only) (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Condensed Balance Sheet [Table Text Block] | Condensed Balance Sheets December 31, (in thousands) 2019 2018 Assets Cash on deposit with subsidiary bank $ 14,714 $ 7,655 Investment in and receivable from subsidiaries 384,136 356,118 Other assets 7,821 3,147 Total assets $ 406,671 $ 366,920 Liabilities and stockholders' equity Other liabilities $ 374 $ 420 Total stockholders’ equity 406,297 366,500 Total liabilities and stockholders’ equity $ 406,671 $ 366,920 |
Condensed Income Statement [Table Text Block] | Condensed Statements of Income Years ended December 31, (in thousands) 2019 2018 2017 Income - dividends and interest from subsidiaries $ 72,119 $ 21,403 $ 18,160 Other income 2 12 82 Less expenses 4,935 4,818 3,255 Income before income taxes and equity in undistributed net income of subsidiary 67,186 16,597 14,987 Income tax benefit (4,683 ) (1,713 ) (1,985 ) Income before equity in undistributed net income of subsidiary 71,869 18,310 16,972 Equity in undistributed net income of subsidiary (5,802 ) 37,207 21,071 Net income $ 66,067 $ 55,517 $ 38,043 Comprehensive Income $ 71,886 $ 52,811 $ 37,612 |
Condensed Cash Flow Statement [Table Text Block] | Condensed Statements of Cash Flows Years ended December 31 (in thousands) 2019 2018 2017 Operating activities Net income $ 66,067 $ 55,517 $ 38,043 Adjustments to reconcile net income to net cash provided by operating activities: Equity in undistributed net income of subsidiaries 5,802 (37,207 ) (21,071 ) Gain on sale of fixed assets — (10 ) — Change in receivable from subsidiaries Stock compensation expense 3,578 4,027 2,892 Excess tax benefits from stock- based compensation arrangements (812 ) (549 ) (1,463 ) Depreciation, amortization and accretion, net — — 4 Proceeds from liquidation of private investment fund — — (81 ) Change in other assets (3,863 ) (1,080 ) 5,943 Change in other liabilities (81 ) 220 10 Net cash provided by operating activities 70,691 20,918 24,277 Investing activities Proceeds from sale of fixed assets — 13 — Cash for acquisition (28,000 ) — — Proceeds from liquidation of private investment fund — — 81 Net cash provided by (used in) investing activities (28,000 ) 13 81 Financing activities Repurchase of common stock (11,817 ) (2,004 ) (2,389 ) Share repurchases related to compensation plans (272 ) (154 ) (216 ) Cash dividends paid (23,543 ) (21,766 ) (18,077 ) Net cash used in financing activities (35,632 ) (23,924 ) (20,682 ) Net increase (decrease) in cash 7,059 (2,993 ) 3,676 Cash at beginning of year 7,655 10,648 6,972 Cash at end of year $ 14,714 $ 7,655 $ 10,648 |
Note 25 - Segments (Tables)
Note 25 - Segments (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Commercial As of and for the Year ended December 31, 2019 (in thousands) Banking WM&T Total Net interest income $ 124,902 $ 319 $ 125,221 Provision for loan and leases 1,000 — 1,000 Wealth management and trust services — 22,643 22,643 All other non-interest income 27,147 — 27,147 Non-interest expenses 85,642 12,709 98,351 Income before income tax expense 65,407 10,253 75,660 Income tax expense 7,368 2,225 9,593 Net income $ 58,039 $ 8,028 $ 66,067 Total assets $ 3,720,502 $ 3,695 $ 3,724,197 Commercial As of and for the Year ended December 31, 2018 (in thousands) Banking WM&T Total Net interest income $ 114,161 $ 255 $ 114,416 Provision for loan and leases 2,705 — 2,705 Wealth management and trust services — 21,536 21,536 All other non-interest income 23,810 — 23,810 Non-interest expenses 76,963 12,546 89,509 Income before income tax expense 58,303 9,245 67,548 Income tax expense 10,025 2,006 12,031 Net income $ 48,278 $ 7,239 $ 55,517 Total assets $ 3,299,169 $ 3,755 $ 3,302,924 Commercial As of and for the Year ended December 31, 2017 (in thousands) Banking WM&T Total Net interest income $ 103,352 $ 301 $ 103,653 Provision for loan and leases 2,550 — 2,550 Wealth management and trust services — 20,505 20,505 All other non-interest income 23,994 — 23,994 Non-interest expenses 78,181 12,239 90,420 Income before income tax expense 46,615 8,567 55,182 Income tax expense 14,080 3,059 17,139 Net income $ 32,535 $ 5,508 $ 38,043 Total assets $ 3,237,656 $ 1,990 $ 3,239,646 |
Note 26 - Quarterly Operating_2
Note 26 - Quarterly Operating Results (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Quarterly Financial Information [Table Text Block] | 2019 (in thousands except per share data) 4th quarter 3rd quarter 2nd quarter 1st quarter Interest income $ 37,795 $ 37,973 $ 36,968 $ 35,029 Interest expense 5,075 5,903 6,194 5,372 Net interest income 32,720 32,070 30,774 29,657 Provision for loan and lease losses - 400 - 600 Net interest income after provision 32,720 31,670 30,774 29,057 Non-interest income 13,161 13,304 12,263 11,062 Non-interest expenses 26,291 23,957 25,464 22,639 Income before income taxes 19,590 21,017 17,573 17,480 Income tax expense 2,941 3,783 1,030 1,839 Net income $ 16,649 $ 17,234 $ 16,543 $ 15,641 Basic earnings per share $ 0.74 $ 0.76 $ 0.73 $ 0.69 Diluted earnings per share $ 0.73 $ 0.76 $ 0.72 $ 0.68 2018 (in thousands except per share data) 4th quarter 3rd quarter 2nd quarter 1st quarter Interest income $ 35,004 $ 33,021 $ 32,004 $ 29,744 Interest expense 5,092 4,500 3,330 2,435 Net interest income 29,912 28,521 28,674 27,309 Provision for loan and lease losses - 735 1,235 735 Net interest income after provision 29,912 27,786 27,439 26,574 Non-interest income 11,576 11,426 11,435 10,909 Non-interest expenses 24,565 21,781 22,136 21,027 Income before income taxes 16,923 17,431 16,738 16,456 Income tax expense 2,265 3,555 3,159 3,052 Net income $ 14,658 $ 13,876 $ 13,579 $ 13,404 Basic earnings per share $ 0.65 $ 0.61 $ 0.60 $ 0.59 Diluted earnings per share $ 0.64 $ 0.60 $ 0.59 $ 0.58 2017 (in thousands except per share data) 4th quarter 3rd quarter 2nd quarter 1st quarter Interest income $ 29,098 $ 28,120 $ 27,026 $ 26,655 Interest expense 2,069 1,947 1,781 1,449 Net interest income 27,029 26,173 25,245 25,206 Provision for loan and lease losses 900 150 600 900 Net interest income after provision 26,129 26,023 24,645 24,306 Non-interest income 11,407 10,945 11,525 10,622 Non-interest expenses 27,048 21,168 21,209 20,995 Income before income taxes 10,488 15,800 14,961 13,933 Income tax expense 5,542 4,096 4,359 3,142 Net income $ 4,946 $ 11,704 $ 10,602 $ 10,791 Basic earnings per share $ 0.22 $ 0.52 $ 0.47 $ 0.48 Diluted earnings per share $ 0.22 $ 0.51 $ 0.46 $ 0.47 |
Note 27 - Revenue From Contra_2
Note 27 - Revenue From Contracts With Customers (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Year Ended December 31, 2019 (in thousands) Commercial WM&T Total Wealth management and trust services $ — $ 22,643 $ 22,643 Deposit service charges 5,513 — 5,513 Debit and credit card income 8,123 — 8,123 Treasury management fees 4,992 — 4,992 Mortgage banking income(1) 3,090 — 3,090 Net investment product sales commissions and fees 1,498 — 1,498 Bank owned life insurance(1) 1,031 — 1,031 Other(2) 2,900 — 2,900 Total non-interest income $ 27,147 $ 22,643 $ 49,790 Year Ended December 31, 2018 (in thousands) Commercial WM&T Total Wealth management and trust services $ — $ 21,536 $ 21,536 Deposit service charges 5,759 — 5,759 Debit and credit card income 6,769 — 6,769 Treasury management fees 4,571 — 4,571 Mortgage banking income(1) 2,568 — 2,568 Net investment product sales commissions and fees 1,677 — 1,677 Bank owned life insurance(1) 1,129 — 1,129 Other(2) 1,337 — 1,337 Total non-interest income $ 23,810 $ 21,536 $ 45,346 Year Ended December 31, 2017 (in thousands) Commercial WM&T Total Wealth management and trust services $ — $ 20,505 $ 20,505 Deposit service charges 6,172 — 6,172 Debit and credit card income 5,979 — 5,979 Treasury management fees 4,297 — 4,297 Mortgage banking income(1) 3,221 — 3,221 Loss on sale of securities (232 ) — (232 ) Net investment product sales commissions and fees 1,629 — 1,629 Bank owned life insurance(1) 1,159 — 1,159 Other(2) 1,769 — 1,769 Total non-interest income $ 23,994 $ 20,505 $ 44,499 |
Note 1 - Basis of Presentatio_2
Note 1 - Basis of Presentation and Summary of Significant Accounting Policies (Details Textual) $ in Thousands | 1 Months Ended | 3 Months Ended | 12 Months Ended | |||||
Jun. 30, 2019USD ($) | Mar. 31, 2019USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Jan. 01, 2020USD ($) | May 01, 2019 | Jan. 01, 2019USD ($) | |
Repayments of Subordinated Debt, Total | $ 3,609 | $ 0 | $ 0 | |||||
Number of Operating Segments | 2 | |||||||
Allowance for Loan and Lease Losses, Period Increase (Decrease), Total | $ 2,000 | |||||||
Cash Reserve Deposit Required and Made | $ 11,000 | |||||||
Operating Lease, Right-of-Use Asset | $ 12,737 | $ 0 | ||||||
Accounting Standards Update 2016-02 [Member] | ||||||||
Operating Lease, Right-of-Use Asset | $ 17,000 | |||||||
Operating Lease, Liability, Total | $ 18,000 | |||||||
Minimum [Member] | ||||||||
Property, Plant and Equipment, Useful Life | 3 years | |||||||
Minimum [Member] | Accounting Standards Update 2016-13 [Member] | Subsequent Event [Member] | ||||||||
Debt Securities, Available-for-sale, Allowance for Credit Loss, Ending Balance | $ 7,500 | |||||||
Maximum [Member] | ||||||||
Property, Plant and Equipment, Useful Life | 40 years | |||||||
Maximum [Member] | Accounting Standards Update 2016-13 [Member] | Subsequent Event [Member] | ||||||||
Debt Securities, Available-for-sale, Allowance for Credit Loss, Ending Balance | $ 8,500 | |||||||
Subordinated Notes Assumed in the king Acquisition [Member] | ||||||||
Repayments of Subordinated Debt, Total | $ 4,000 | |||||||
KBST [Member] | ||||||||
Noncontrolling Interest, Ownership Percentage by Parent | 100.00% |
Note 2 - Restrictions on Cash_2
Note 2 - Restrictions on Cash and Due From Banks (Details Textual) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Cash, Uninsured Amount | $ 89 | $ 1 |
Federal Home Loan Bank Stock and Federal Reserve Bank Stock, Total | 113 | 143 |
Restricted Cash and Cash Equivalents, Total | $ 11 | $ 9 |
Note 3 - Acquisition of KSB (De
Note 3 - Acquisition of KSB (Details Textual) - USD ($) $ in Thousands | May 01, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Goodwill, Ending Balance | $ 12,513 | $ 682 | $ 682 | |
King Bancorp Inc. [Member] | ||||
Payments to Acquire Businesses, Gross | $ 28,000 | |||
Goodwill, Ending Balance | $ 11,831 | 12,000 | ||
Business Acquisition, Pro Forma Revenue | $ 4,000 |
Note 3 - Acquisition of KSB - S
Note 3 - Acquisition of KSB - Summary of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands | May 01, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Goodwill, Ending Balance | $ 12,513 | $ 682 | $ 682 | ||
King Bancorp Inc. [Member] | |||||
Securities available for sale | $ 12,427 | ||||
Federal Home Loan Bank stock, at cost | 1,517 | ||||
Federal Reserve Bank stock, at cost | 490 | ||||
Loans | 164,029 | ||||
Allowance for loan losses | 0 | ||||
Net loans | 164,029 | ||||
Premises and equipment, net | 3,461 | ||||
Bank owned life insurance | 3,431 | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 1,519 | ||||
Other real estate owned | 0 | ||||
Other assets and accrued interest receivable | 831 | ||||
Total assets acquired | 192,782 | ||||
Non-interest bearing | 24,939 | ||||
Interest bearing | [1],[2] | 100,587 | |||
Total deposits | 125,526 | ||||
Federal funds purchased | 1,566 | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Federal Home Loan Bank Advances | 43,299 | 43,000 | |||
Other liabilities and accrued interest payable | 313 | ||||
Total liabilities assumed | 176,613 | ||||
Net assets acquired | 16,169 | ||||
Cash consideration paid | (28,000) | ||||
Goodwill, Ending Balance | 11,831 | $ 12,000 | |||
King Bancorp Inc. [Member] | Subordinated Debt [Member] | |||||
Long-term debt | 3,609 | ||||
King Bancorp Inc. [Member] | Line of Credit [Member] | |||||
Long-term debt | 2,300 | ||||
King Bancorp Inc. [Member] | As Recorded By Acquiree [Member] | |||||
Securities available for sale | 12,404 | ||||
Federal Home Loan Bank stock, at cost | 1,517 | ||||
Federal Reserve Bank stock, at cost | 490 | ||||
Loans | 165,744 | ||||
Allowance for loan losses | (1,812) | ||||
Net loans | 163,932 | ||||
Premises and equipment, net | 4,358 | ||||
Bank owned life insurance | 3,431 | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 0 | ||||
Other real estate owned | 325 | ||||
Other assets and accrued interest receivable | 867 | ||||
Total assets acquired | 192,401 | ||||
Non-interest bearing | 24,939 | ||||
Interest bearing | [1],[2] | 100,839 | |||
Total deposits | 125,778 | ||||
Federal funds purchased | 1,566 | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Federal Home Loan Bank Advances | 43,718 | ||||
Other liabilities and accrued interest payable | 313 | ||||
Total liabilities assumed | 177,284 | ||||
Net assets acquired | 15,117 | ||||
King Bancorp Inc. [Member] | As Recorded By Acquiree [Member] | Subordinated Debt [Member] | |||||
Long-term debt | 3,609 | ||||
King Bancorp Inc. [Member] | As Recorded By Acquiree [Member] | Line of Credit [Member] | |||||
Long-term debt | 2,300 | ||||
King Bancorp Inc. [Member] | As Adjusted By Acuirer [Member] | |||||
Securities available for sale | [1],[3] | 23 | |||
Federal Home Loan Bank stock, at cost | [1] | 0 | |||
Federal Reserve Bank stock, at cost | [1] | 0 | |||
Loans | [1],[4] | (1,597) | |||
Allowance for loan losses | [1],[4] | 1,812 | |||
Net loans | [1] | 215 | |||
Premises and equipment, net | [1],[5] | (1,328) | |||
Bank owned life insurance | [1] | 0 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | [1],[6] | 1,519 | |||
Other real estate owned | [1],[7] | (325) | |||
Other assets and accrued interest receivable | [1],[8] | (36) | |||
Total assets acquired | [1] | 68 | |||
Non-interest bearing | [1] | 0 | |||
Interest bearing | [1],[2] | (252) | |||
Total deposits | (252) | ||||
Federal funds purchased | [1] | 0 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Federal Home Loan Bank Advances | [1],[9] | (419) | |||
Other liabilities and accrued interest payable | [1] | 0 | |||
Total liabilities assumed | [1] | (671) | |||
Net assets acquired | [1] | 739 | |||
King Bancorp Inc. [Member] | As Adjusted By Acuirer [Member] | Subordinated Debt [Member] | |||||
Long-term debt | [1] | 0 | |||
King Bancorp Inc. [Member] | As Adjusted By Acuirer [Member] | Line of Credit [Member] | |||||
Long-term debt | [1] | 0 | |||
King Bancorp Inc. [Member] | Recast Adjustment [Member] | |||||
Securities available for sale | 0 | ||||
Federal Home Loan Bank stock, at cost | 0 | ||||
Federal Reserve Bank stock, at cost | 0 | ||||
Loans | [4] | (118) | |||
Allowance for loan losses | 0 | ||||
Net loans | (118) | ||||
Premises and equipment, net | [5] | 431 | |||
Bank owned life insurance | 0 | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 0 | ||||
Other real estate owned | 0 | ||||
Other assets and accrued interest receivable | 0 | ||||
Total assets acquired | 313 | ||||
Non-interest bearing | 0 | ||||
Interest bearing | [1],[2] | 0 | |||
Total deposits | 0 | ||||
Federal funds purchased | 0 | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Federal Home Loan Bank Advances | 0 | ||||
Other liabilities and accrued interest payable | 0 | ||||
Total liabilities assumed | 0 | ||||
Net assets acquired | 313 | ||||
King Bancorp Inc. [Member] | Recast Adjustment [Member] | Subordinated Debt [Member] | |||||
Long-term debt | 0 | ||||
King Bancorp Inc. [Member] | Recast Adjustment [Member] | Line of Credit [Member] | |||||
Long-term debt | 0 | ||||
King Bancorp Inc. [Member] | Cash [Member] | |||||
Cash and equivalents | 3,316 | ||||
King Bancorp Inc. [Member] | Cash [Member] | As Recorded By Acquiree [Member] | |||||
Cash and equivalents | 3,316 | ||||
King Bancorp Inc. [Member] | Cash [Member] | As Adjusted By Acuirer [Member] | |||||
Cash and equivalents | [1] | 0 | |||
King Bancorp Inc. [Member] | Cash [Member] | Recast Adjustment [Member] | |||||
Cash and equivalents | 0 | ||||
King Bancorp Inc. [Member] | Interest-bearing Deposits [Member] | |||||
Cash and equivalents | 1,761 | ||||
King Bancorp Inc. [Member] | Interest-bearing Deposits [Member] | As Recorded By Acquiree [Member] | |||||
Cash and equivalents | 1,761 | ||||
King Bancorp Inc. [Member] | Interest-bearing Deposits [Member] | As Adjusted By Acuirer [Member] | |||||
Cash and equivalents | [1] | 0 | |||
King Bancorp Inc. [Member] | Interest-bearing Deposits [Member] | Recast Adjustment [Member] | |||||
Cash and equivalents | $ 0 | ||||
[1] | Bancorp's acquisition of KSB closed on May 1, 2019. The fair value adjustments reported are preliminary estimates based on information obtained subsequent to May 1, 2019 and through December 31, 2019. Management is continuing to evaluate each of its estimates and may provide additional recast adjustments in future periods based on this continuing evaluation. To the extent that additional recast adjustments are posted in future periods, the resultant fair values and the amount of goodwill recorded by Bancorp will change. | ||||
[2] | Reflects the fair value adjustment based on the Bancorp's evaluation of the assumed time deposits. | ||||
[3] | Reflects the fair value adjustment based on Bancorp's evaluation of the acquired investment portfolio. | ||||
[4] | Reflects the fair value adjustment based on Bancorp's evaluation of the acquired loan portfolio and to eliminate KSB's recorded allowance. | ||||
[5] | Reflects the fair value adjustment based on Bancorp's evaluation of the premises and equipment acquired. | ||||
[6] | Reflects the fair value adjustment for the core deposit intangible asset recorded as a result of the acquisition. | ||||
[7] | Reflects the fair value adjustment based upon Bancorp's evaluation of the foreclosed real estate acquired. | ||||
[8] | Reflects the write-off of a miscellaneous other asset. | ||||
[9] | Reflects the fair value adjustment based upon Bancorp's evaluation of the assumed FHLB advances. |
Note 4 - Securities Available_3
Note 4 - Securities Available for Sale (Details Textual) | May 01, 2019USD ($) | Sep. 30, 2017USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) |
Available-for-sale Securities, Gross Realized Gain (Loss), Total | $ 31,000 | $ 0 | $ 0 | $ (263,000) | |
Proceeds from Sale of Debt Securities, Available-for-sale | $ 12,000,000 | ||||
Debt Securities, Available-for-sale, Realized Gain (Loss), Total | $ 0 | ||||
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 54 | 117 | |||
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net, Total | $ 0 | ||||
Equity Securities without Readily Determinable Fair Value, Impairment Loss, Cumulative Amount | 0 | ||||
Collateral Pledged [Member] | |||||
Debt Securities, Available-for-sale, Restricted | $ 403,000,000 | $ 355,000,000 |
Note 4 - Securities Available_4
Note 4 - Securities Available for Sale - Available-for-sale Securities (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Securities available for sale, amortized cost | $ 469,313 | $ 443,742 |
Securities available-for-sale, unrealized gains | 2,559 | 545 |
Securities available-for-sale, unrealized losses | (1,134) | (7,292) |
Securities available-for-sale, fair value | 470,738 | 436,995 |
US Treasury Securities [Member] | ||
Securities available for sale, amortized cost | 49,887 | |
Securities available-for-sale, unrealized gains | 10 | |
Securities available-for-sale, unrealized losses | 0 | |
Securities available-for-sale, fair value | 49,897 | |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Securities available for sale, amortized cost | 208,933 | 264,234 |
Securities available-for-sale, unrealized gains | 1,189 | 156 |
Securities available-for-sale, unrealized losses | (178) | (3,351) |
Securities available-for-sale, fair value | 209,944 | 261,039 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Securities available for sale, amortized cost | 193,574 | 149,748 |
Securities available-for-sale, unrealized gains | 1,243 | 282 |
Securities available-for-sale, unrealized losses | (956) | (3,753) |
Securities available-for-sale, fair value | 193,861 | 146,277 |
US States and Political Subdivisions Debt Securities [Member] | ||
Securities available for sale, amortized cost | 16,919 | 29,760 |
Securities available-for-sale, unrealized gains | 117 | 107 |
Securities available-for-sale, unrealized losses | 0 | (188) |
Securities available-for-sale, fair value | $ 17,036 | $ 29,679 |
Note 4 - Securities Available_5
Note 4 - Securities Available for Sale - Available-for-sale Securities by Contractual Maturity (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Due within 1 year, amortized cost | $ 129,251 | |
Due within 1 year, fair value | 129,311 | |
Due after 1 but within 5 years, amortized cost | 32,124 | |
Due after 1 but within 5 years, fair value | 32,208 | |
Due after 5 but within 10 years, amortized cost | 6,162 | |
Due after 5 but within 10 years, fair value | 6,219 | |
Due after 10 years, amortized cost | 108,202 | |
Due after 10 years, fair value | 109,139 | |
Mortgage-backed securities – government agencies, amortized cost | 193,574 | |
Mortgage-backed securities – government agencies, fair value | 193,861 | |
Total securities available-for-sale, amortized cost | 469,313 | $ 443,742 |
Total securities available-for-sale, fair value | $ 470,738 | $ 436,995 |
Note 4 - Securities Available_6
Note 4 - Securities Available for Sale - Securities With Unrealized Losses (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Sep. 30, 2019 | Dec. 31, 2018 |
Securities available-for-sale, less than 12 months, fair value | $ 98,167 | $ 100,662 | |
Securities available-for-sale, less than 12 months, unrealized losses | (603) | (44) | |
Securities available-for-sale, 12 months or more, fair value | 43,945 | 287,807 | |
Securities available-for-sale, 12 months or more, unrealized losses | (531) | (7,248) | |
Securities available-for-sale, fair value | 142,112 | 388,469 | |
Securities available-for-sale, unrealized losses | (1,134) | (7,292) | |
US Government-sponsored Enterprises Debt Securities [Member] | |||
Securities available-for-sale, less than 12 months, fair value | 16,503 | 96,740 | |
Securities available-for-sale, less than 12 months, unrealized losses | (107) | (38) | |
Securities available-for-sale, 12 months or more, fair value | 11,492 | 149,320 | |
Securities available-for-sale, 12 months or more, unrealized losses | (71) | (3,313) | |
Securities available-for-sale, fair value | 27,995 | 246,060 | |
Securities available-for-sale, unrealized losses | (178) | (3,351) | |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | |||
Securities available-for-sale, less than 12 months, fair value | 81,664 | 3,108 | |
Securities available-for-sale, less than 12 months, unrealized losses | (496) | (5) | |
Securities available-for-sale, 12 months or more, fair value | 32,453 | 120,848 | |
Securities available-for-sale, 12 months or more, unrealized losses | (460) | (3,748) | |
Securities available-for-sale, fair value | 114,117 | 123,956 | |
Securities available-for-sale, unrealized losses | $ (956) | $ (3,753) | |
US States and Political Subdivisions Debt Securities [Member] | |||
Securities available-for-sale, less than 12 months, fair value | $ 814 | ||
Securities available-for-sale, less than 12 months, unrealized losses | (1) | ||
Securities available-for-sale, 12 months or more, fair value | 17,639 | ||
Securities available-for-sale, 12 months or more, unrealized losses | (187) | ||
Securities available-for-sale, fair value | 18,453 | ||
Securities available-for-sale, unrealized losses | $ (188) |
Note 5 - Loans (Details Textual
Note 5 - Loans (Details Textual) Pure in Thousands | 12 Months Ended | ||
Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | |
Loans and Leases Receivable, Deferred Expense Income | $ 564,000 | $ 592,000 | |
Loans and Leases Receivable, Collateral for Secured Borrowings | 8,000,000 | 11,000,000 | |
Financing Receivable, Past Due | $ 15,159,000 | $ 10,544,000 | |
Financing Receivable, Modifications, Number of Contracts | 0 | 0 | |
Mortgage Loans in Process of Foreclosure, Amount | $ 239,000 | $ 528,000 | |
Impaired or Nonaccrual Financing Receivable, Interest Received Used to Reduce Principal | 552,000 | 93,000 | $ 338,000 |
Loans and Leases Receivable, Impaired, Interest Lost on Nonaccrual Loans | 491,000 | 391,000 | 159,000 |
Impaired Financing Receivable, Interest Income, Cash Basis Method, Total | $ 0 | $ 0 | $ 0 |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 0 | 0 | |
Directors and Executive Officers [Member] | |||
Financing Receivable, Past Due | $ 0 | $ 500,000 |
Note 5 - Loans - Loans by Loan
Note 5 - Loans - Loans by Loan Portfolio Class (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 | |
Loans | [1] | $ 2,845,016 | $ 2,548,171 |
Commercial and Industrial Portfolio Segment [Member] | |||
Loans | 870,511 | 833,524 | |
Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | |||
Loans | [2] | 213,822 | 225,050 |
Undevelopment Land Portfolio Segment [Member] | |||
Loans | 46,360 | 30,092 | |
Real Estate Mortgage Portfolio Segment [Member] | |||
Loans | 1,666,856 | 1,411,447 | |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Investment [Member] | |||
Loans | 736,618 | 588,610 | |
Real Estate Mortgage Portfolio Segment [Member] | Owner Occupied Commercial [Member] | |||
Loans | 473,783 | 426,373 | |
Real Estate Mortgage Portfolio Segment [Member] | One to Four Family Residential [Member] | |||
Loans | 334,358 | 276,017 | |
Real Estate Mortgage Portfolio Segment [Member] | Home Equity First Lien [Member] | |||
Loans | 48,620 | 49,500 | |
Real Estate Mortgage Portfolio Segment [Member] | Home Equity Junior Lien [Member] | |||
Loans | 73,477 | 70,947 | |
Consumer Portfolio Segment [Member] | |||
Loans | $ 47,467 | $ 48,058 | |
[1] | Total loans are presented inclusive of premiums, discounts, and net loan origination fees and costs. | ||
[2] | Consists of land acquired for development by the borrower, but for which no development has yet taken place. |
Note 5 - Loans - Loans to Direc
Note 5 - Loans - Loans to Directors and Their Associates (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Loans and leases receivable, balance | $ 52,687 | $ 629 |
Effect of change in composition of directors and executive officers | 0 | 51,415 |
Repayment of term loans | (184) | 0 |
Changes in balances of revolving lines of credit | (9,279) | 643 |
Loans and leases receivable, balance | $ 43,224 | $ 52,687 |
Note 5 - Loans - Loans Acquired
Note 5 - Loans - Loans Acquired in King Acquisition (Details) - USD ($) $ in Thousands | May 01, 2019 | Dec. 31, 2019 | Dec. 31, 2018 |
Non-accretable amount | $ 0 | $ 0 | |
King Bancorp Inc. [Member] | |||
Contractual receivable | $ 165,744 | ||
Non-accretable amount | (1,579) | ||
Accretable amount | (136) | ||
Acquisition-day Fair Value | 164,029 | ||
King Bancorp Inc. [Member] | Financial Asset Acquired and No Credit Deterioration [Member] | |||
Contractual receivable | 164,165 | ||
Non-accretable amount | 0 | ||
Accretable amount | (136) | ||
Acquisition-day Fair Value | 164,029 | ||
King Bancorp Inc. [Member] | Financial Asset Acquired with Credit Deterioration [Member] | |||
Contractual receivable | 1,579 | ||
Non-accretable amount | (1,579) | ||
Accretable amount | 0 | ||
Acquisition-day Fair Value | 0 | ||
Commercial and Industrial Portfolio Segment [Member] | King Bancorp Inc. [Member] | Financial Asset Acquired and No Credit Deterioration [Member] | |||
Contractual receivable | 8,249 | ||
Non-accretable amount | 0 | ||
Accretable amount | (23) | ||
Acquisition-day Fair Value | 8,226 | ||
Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | King Bancorp Inc. [Member] | Financial Asset Acquired and No Credit Deterioration [Member] | |||
Contractual receivable | 10,764 | ||
Non-accretable amount | 0 | ||
Accretable amount | 43 | ||
Acquisition-day Fair Value | 10,807 | ||
Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | King Bancorp Inc. [Member] | Financial Asset Acquired with Credit Deterioration [Member] | |||
Contractual receivable | 0 | ||
Non-accretable amount | 0 | ||
Accretable amount | 0 | ||
Acquisition-day Fair Value | 0 | ||
Undevelopment Land Portfolio Segment [Member] | King Bancorp Inc. [Member] | Financial Asset Acquired and No Credit Deterioration [Member] | |||
Contractual receivable | 7,974 | ||
Non-accretable amount | 0 | ||
Accretable amount | 43 | ||
Acquisition-day Fair Value | 8,017 | ||
Undevelopment Land Portfolio Segment [Member] | King Bancorp Inc. [Member] | Financial Asset Acquired with Credit Deterioration [Member] | |||
Contractual receivable | 0 | ||
Non-accretable amount | 0 | ||
Accretable amount | 0 | ||
Acquisition-day Fair Value | 0 | ||
Real Estate Mortgage Portfolio Segment [Member] | King Bancorp Inc. [Member] | Financial Asset Acquired and No Credit Deterioration [Member] | |||
Contractual receivable | 135,650 | ||
Non-accretable amount | 0 | ||
Accretable amount | (126) | ||
Acquisition-day Fair Value | 135,524 | ||
Real Estate Mortgage Portfolio Segment [Member] | King Bancorp Inc. [Member] | Financial Asset Acquired and No Credit Deterioration [Member] | Commercial Real Estate [Member] | |||
Contractual receivable | 84,219 | ||
Non-accretable amount | 0 | ||
Accretable amount | (456) | ||
Acquisition-day Fair Value | 83,763 | ||
Real Estate Mortgage Portfolio Segment [Member] | King Bancorp Inc. [Member] | Financial Asset Acquired and No Credit Deterioration [Member] | One to Four Family Residential [Member] | |||
Contractual receivable | 50,556 | ||
Non-accretable amount | 0 | ||
Accretable amount | 322 | ||
Acquisition-day Fair Value | 50,878 | ||
Real Estate Mortgage Portfolio Segment [Member] | King Bancorp Inc. [Member] | Financial Asset Acquired and No Credit Deterioration [Member] | Home Equity First Lien [Member] | |||
Contractual receivable | 196 | ||
Non-accretable amount | 0 | ||
Accretable amount | 3 | ||
Acquisition-day Fair Value | 199 | ||
Real Estate Mortgage Portfolio Segment [Member] | King Bancorp Inc. [Member] | Financial Asset Acquired and No Credit Deterioration [Member] | Home Equity Junior Lien [Member] | |||
Contractual receivable | 679 | ||
Non-accretable amount | 0 | ||
Accretable amount | 5 | ||
Acquisition-day Fair Value | 684 | ||
Real Estate Mortgage Portfolio Segment [Member] | King Bancorp Inc. [Member] | Financial Asset Acquired with Credit Deterioration [Member] | |||
Contractual receivable | 1,579 | ||
Non-accretable amount | (1,579) | ||
Accretable amount | 0 | ||
Acquisition-day Fair Value | 0 | ||
Real Estate Mortgage Portfolio Segment [Member] | King Bancorp Inc. [Member] | Financial Asset Acquired with Credit Deterioration [Member] | Commercial Real Estate [Member] | |||
Contractual receivable | 1,351 | ||
Non-accretable amount | (1,351) | ||
Accretable amount | 0 | ||
Acquisition-day Fair Value | 0 | ||
Real Estate Mortgage Portfolio Segment [Member] | King Bancorp Inc. [Member] | Financial Asset Acquired with Credit Deterioration [Member] | One to Four Family Residential [Member] | |||
Contractual receivable | 228 | ||
Non-accretable amount | (228) | ||
Accretable amount | 0 | ||
Acquisition-day Fair Value | 0 | ||
Real Estate Mortgage Portfolio Segment [Member] | King Bancorp Inc. [Member] | Financial Asset Acquired with Credit Deterioration [Member] | Home Equity First Lien [Member] | |||
Contractual receivable | 0 | ||
Non-accretable amount | 0 | ||
Accretable amount | 0 | ||
Acquisition-day Fair Value | 0 | ||
Real Estate Mortgage Portfolio Segment [Member] | King Bancorp Inc. [Member] | Financial Asset Acquired with Credit Deterioration [Member] | Home Equity Junior Lien [Member] | |||
Contractual receivable | 0 | ||
Non-accretable amount | 0 | ||
Accretable amount | 0 | ||
Acquisition-day Fair Value | 0 | ||
Consumer Portfolio Segment [Member] | King Bancorp Inc. [Member] | Financial Asset Acquired and No Credit Deterioration [Member] | |||
Contractual receivable | 1,528 | ||
Non-accretable amount | 0 | ||
Accretable amount | (73) | ||
Acquisition-day Fair Value | 1,455 | ||
Consumer Portfolio Segment [Member] | King Bancorp Inc. [Member] | Financial Asset Acquired with Credit Deterioration [Member] | |||
Contractual receivable | 0 | ||
Non-accretable amount | 0 | ||
Accretable amount | 0 | ||
Acquisition-day Fair Value | $ 0 |
Note 5 - Loans - Reconciliation
Note 5 - Loans - Reconciliation of PCI Loans (Details) $ in Thousands | Dec. 31, 2019USD ($) |
Contractually-required principal | $ 1,579 |
Non-accretable amount | (1,579) |
Accretable amount | 0 |
Carrying value of loans | $ 0 |
Note 5 - Loans - Accretable Amo
Note 5 - Loans - Accretable Amount on PCI Loans (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Balance, beginning of period | $ (69) | $ (106) |
Transfers between non-accretable and accretable | 0 | 0 |
Net accretion into interest income on loans, including loan fees | 69 | 37 |
Balance, end of period | $ 0 | $ (69) |
Note 5 - Loans - Internally Ass
Note 5 - Loans - Internally Assigned Risk Grades of Loans (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 | |
Loans | [1] | $ 2,845,016 | $ 2,548,171 |
Commercial and Industrial Portfolio Segment [Member] | |||
Loans | 870,511 | 833,524 | |
Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | |||
Loans | [2] | 213,822 | 225,050 |
Undevelopment Land Portfolio Segment [Member] | |||
Loans | 46,360 | 30,092 | |
Real Estate Mortgage Portfolio Segment [Member] | |||
Loans | 1,666,856 | 1,411,447 | |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Investment [Member] | |||
Loans | 736,618 | 588,610 | |
Real Estate Mortgage Portfolio Segment [Member] | Owner Occupied Commercial [Member] | |||
Loans | 473,783 | 426,373 | |
Real Estate Mortgage Portfolio Segment [Member] | One to Four Family Residential [Member] | |||
Loans | 334,358 | 276,017 | |
Real Estate Mortgage Portfolio Segment [Member] | Home Equity First Lien [Member] | |||
Loans | 48,620 | 49,500 | |
Real Estate Mortgage Portfolio Segment [Member] | Home Equity Junior Lien [Member] | |||
Loans | 73,477 | 70,947 | |
Consumer Portfolio Segment [Member] | |||
Loans | 47,467 | 48,058 | |
Pass [Member] | |||
Loans | 2,785,631 | 2,493,020 | |
Pass [Member] | Commercial and Industrial Portfolio Segment [Member] | |||
Loans | 840,105 | 803,073 | |
Pass [Member] | Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | |||
Loans | 213,822 | 220,532 | |
Pass [Member] | Undevelopment Land Portfolio Segment [Member] | |||
Loans | 46,360 | 29,618 | |
Pass [Member] | Real Estate Mortgage Portfolio Segment [Member] | |||
Loans | 1,637,915 | 1,391,739 | |
Pass [Member] | Real Estate Mortgage Portfolio Segment [Member] | Commercial Investment [Member] | |||
Loans | 722,747 | 586,543 | |
Pass [Member] | Real Estate Mortgage Portfolio Segment [Member] | Owner Occupied Commercial [Member] | |||
Loans | 460,981 | 411,722 | |
Pass [Member] | Real Estate Mortgage Portfolio Segment [Member] | One to Four Family Residential [Member] | |||
Loans | 332,294 | 273,537 | |
Pass [Member] | Real Estate Mortgage Portfolio Segment [Member] | Home Equity First Lien [Member] | |||
Loans | 48,620 | 49,500 | |
Pass [Member] | Real Estate Mortgage Portfolio Segment [Member] | Home Equity Junior Lien [Member] | |||
Loans | 73,273 | 70,437 | |
Pass [Member] | Consumer Portfolio Segment [Member] | |||
Loans | 47,429 | 48,058 | |
Special Mention [Member] | |||
Loans | 10,239 | 28,354 | |
Special Mention [Member] | Commercial and Industrial Portfolio Segment [Member] | |||
Loans | 704 | 11,516 | |
Special Mention [Member] | Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | |||
Loans | 0 | 4,200 | |
Special Mention [Member] | Undevelopment Land Portfolio Segment [Member] | |||
Loans | 0 | 0 | |
Special Mention [Member] | Real Estate Mortgage Portfolio Segment [Member] | |||
Loans | 9,535 | 12,638 | |
Special Mention [Member] | Real Estate Mortgage Portfolio Segment [Member] | Commercial Investment [Member] | |||
Loans | 6,459 | 1,815 | |
Special Mention [Member] | Real Estate Mortgage Portfolio Segment [Member] | Owner Occupied Commercial [Member] | |||
Loans | 1,375 | 9,030 | |
Special Mention [Member] | Real Estate Mortgage Portfolio Segment [Member] | One to Four Family Residential [Member] | |||
Loans | 1,701 | 1,544 | |
Special Mention [Member] | Real Estate Mortgage Portfolio Segment [Member] | Home Equity First Lien [Member] | |||
Loans | 0 | 0 | |
Special Mention [Member] | Real Estate Mortgage Portfolio Segment [Member] | Home Equity Junior Lien [Member] | |||
Loans | 0 | 249 | |
Special Mention [Member] | Consumer Portfolio Segment [Member] | |||
Loans | 0 | 0 | |
Substandard [Member] | Performing Financial Instruments [Member] | |||
Loans | 37,002 | 23,399 | |
Substandard [Member] | Nonperforming Financial Instruments [Member] | |||
Loans | 12,144 | 3,398 | |
Substandard [Member] | Commercial and Industrial Portfolio Segment [Member] | Performing Financial Instruments [Member] | |||
Loans | 21,500 | 18,703 | |
Substandard [Member] | Commercial and Industrial Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | |||
Loans | 8,202 | 232 | |
Substandard [Member] | Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | Performing Financial Instruments [Member] | |||
Loans | 0 | 0 | |
Substandard [Member] | Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | |||
Loans | 0 | 318 | |
Substandard [Member] | Undevelopment Land Portfolio Segment [Member] | Performing Financial Instruments [Member] | |||
Loans | 0 | 0 | |
Substandard [Member] | Undevelopment Land Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | |||
Loans | 0 | 474 | |
Substandard [Member] | Real Estate Mortgage Portfolio Segment [Member] | Performing Financial Instruments [Member] | |||
Loans | 15,464 | 4,696 | |
Substandard [Member] | Real Estate Mortgage Portfolio Segment [Member] | Performing Financial Instruments [Member] | Commercial Investment [Member] | |||
Loans | 6,275 | 15 | |
Substandard [Member] | Real Estate Mortgage Portfolio Segment [Member] | Performing Financial Instruments [Member] | Owner Occupied Commercial [Member] | |||
Loans | 9,050 | 4,500 | |
Substandard [Member] | Real Estate Mortgage Portfolio Segment [Member] | Performing Financial Instruments [Member] | One to Four Family Residential [Member] | |||
Loans | 122 | 162 | |
Substandard [Member] | Real Estate Mortgage Portfolio Segment [Member] | Performing Financial Instruments [Member] | Home Equity First Lien [Member] | |||
Loans | 0 | 0 | |
Substandard [Member] | Real Estate Mortgage Portfolio Segment [Member] | Performing Financial Instruments [Member] | Home Equity Junior Lien [Member] | |||
Loans | 17 | 19 | |
Substandard [Member] | Real Estate Mortgage Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | |||
Loans | 3,942 | 2,374 | |
Substandard [Member] | Real Estate Mortgage Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Commercial Investment [Member] | |||
Loans | 1,137 | 237 | |
Substandard [Member] | Real Estate Mortgage Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Owner Occupied Commercial [Member] | |||
Loans | 2,377 | 1,121 | |
Substandard [Member] | Real Estate Mortgage Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | One to Four Family Residential [Member] | |||
Loans | 241 | 774 | |
Substandard [Member] | Real Estate Mortgage Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Home Equity First Lien [Member] | |||
Loans | 0 | 0 | |
Substandard [Member] | Real Estate Mortgage Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Home Equity Junior Lien [Member] | |||
Loans | 187 | 242 | |
Substandard [Member] | Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | |||
Loans | 38 | 0 | |
Substandard [Member] | Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | |||
Loans | 0 | 0 | |
Doubtful [Member] | |||
Loans | 0 | 0 | |
Doubtful [Member] | Commercial and Industrial Portfolio Segment [Member] | |||
Loans | 0 | 0 | |
Doubtful [Member] | Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | |||
Loans | 0 | 0 | |
Doubtful [Member] | Undevelopment Land Portfolio Segment [Member] | |||
Loans | 0 | 0 | |
Doubtful [Member] | Real Estate Mortgage Portfolio Segment [Member] | |||
Loans | 0 | 0 | |
Doubtful [Member] | Real Estate Mortgage Portfolio Segment [Member] | Commercial Investment [Member] | |||
Loans | 0 | 0 | |
Doubtful [Member] | Real Estate Mortgage Portfolio Segment [Member] | Owner Occupied Commercial [Member] | |||
Loans | 0 | 0 | |
Doubtful [Member] | Real Estate Mortgage Portfolio Segment [Member] | One to Four Family Residential [Member] | |||
Loans | 0 | 0 | |
Doubtful [Member] | Real Estate Mortgage Portfolio Segment [Member] | Home Equity First Lien [Member] | |||
Loans | 0 | 0 | |
Doubtful [Member] | Real Estate Mortgage Portfolio Segment [Member] | Home Equity Junior Lien [Member] | |||
Loans | 0 | 0 | |
Doubtful [Member] | Consumer Portfolio Segment [Member] | |||
Loans | $ 0 | $ 0 | |
[1] | Total loans are presented inclusive of premiums, discounts, and net loan origination fees and costs. | ||
[2] | Consists of land acquired for development by the borrower, but for which no development has yet taken place. |
Note 5 - Loans - Allowance for
Note 5 - Loans - Allowance for Loan Losses by Portfolio Segment and Based on Impairment Evaluation Method (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2019 | Dec. 31, 2018 | ||
Balance | $ 25,534 | $ 24,885 | $ 24,007 | $ 25,534 | $ 24,885 | $ 24,007 | ||||||||||||
Provision for loan and lease losses | $ 0 | $ 400 | $ 0 | 600 | $ 0 | $ 735 | $ 1,235 | 735 | $ 900 | $ 150 | $ 600 | 900 | 1,000 | 2,705 | 2,550 | |||
Charge-offs | (684) | (3,012) | (2,429) | |||||||||||||||
Recoveries | 941 | 956 | 757 | |||||||||||||||
Balance | 26,791 | 25,534 | 24,885 | 26,791 | 25,534 | 24,885 | ||||||||||||
Loans individually evaluated for impairment | $ 11,530 | $ 2,653 | ||||||||||||||||
Loans collectively evaluated for impairment | 2,833,486 | 2,545,518 | ||||||||||||||||
Loans | [1] | 2,845,016 | 2,548,171 | |||||||||||||||
Allowance for loans individually evaluated for impairment | 1,163 | 42 | ||||||||||||||||
Allowance for loans collectively evaluated for impairment | 25,628 | 25,492 | ||||||||||||||||
Allowance for loan losses | 26,791 | 25,534 | 25,534 | 24,885 | 24,885 | 24,007 | 25,534 | 24,885 | 24,007 | 26,791 | 25,534 | |||||||
Financial Asset Acquired with Credit Deterioration [Member] | ||||||||||||||||||
Balance | 0 | 0 | ||||||||||||||||
Balance | 0 | 0 | 0 | 0 | ||||||||||||||
Loans | 0 | 0 | ||||||||||||||||
Allowance for loan losses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||
Commercial and Industrial Portfolio Segment [Member] | ||||||||||||||||||
Balance | 11,965 | 11,276 | 10,483 | 11,965 | 11,276 | 10,483 | ||||||||||||
Provision for loan and lease losses | 684 | 2,539 | 2,373 | |||||||||||||||
Charge-offs | (94) | (2,404) | (1,782) | |||||||||||||||
Recoveries | 267 | 554 | 202 | |||||||||||||||
Balance | 12,822 | 11,965 | 11,276 | 12,822 | 11,965 | 11,276 | ||||||||||||
Loans individually evaluated for impairment | 8,223 | 220 | ||||||||||||||||
Loans collectively evaluated for impairment | 862,288 | 833,304 | ||||||||||||||||
Loans | 870,511 | 833,524 | ||||||||||||||||
Allowance for loans individually evaluated for impairment | 1,150 | 28 | ||||||||||||||||
Allowance for loans collectively evaluated for impairment | 11,672 | 11,937 | ||||||||||||||||
Allowance for loan losses | 12,822 | 11,965 | 11,965 | 11,276 | 11,276 | 10,483 | 12,822 | 11,276 | 10,483 | 12,822 | 11,965 | |||||||
Commercial and Industrial Portfolio Segment [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||||||||||||||||||
Balance | 0 | 0 | ||||||||||||||||
Balance | 0 | 0 | 0 | 0 | ||||||||||||||
Loans | 0 | 0 | ||||||||||||||||
Allowance for loan losses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||
Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | ||||||||||||||||||
Balance | 1,760 | 1,724 | 1,923 | 1,760 | 1,724 | 1,923 | ||||||||||||
Provision for loan and lease losses | (644) | 36 | (199) | |||||||||||||||
Charge-offs | 0 | 0 | 0 | |||||||||||||||
Recoveries | 203 | 0 | 0 | |||||||||||||||
Balance | 1,319 | 1,760 | 1,724 | 1,319 | 1,760 | 1,724 | ||||||||||||
Loans individually evaluated for impairment | 0 | 318 | ||||||||||||||||
Loans collectively evaluated for impairment | 213,822 | 224,732 | ||||||||||||||||
Loans | [2] | 213,822 | 225,050 | |||||||||||||||
Allowance for loans individually evaluated for impairment | 0 | 0 | ||||||||||||||||
Allowance for loans collectively evaluated for impairment | 1,319 | 1,760 | ||||||||||||||||
Allowance for loan losses | 1,319 | 1,760 | 1,760 | 1,724 | 1,724 | 1,923 | 1,319 | 1,724 | 1,923 | 1,319 | 1,760 | |||||||
Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||||||||||||||||||
Balance | 0 | 0 | ||||||||||||||||
Balance | 0 | 0 | 0 | 0 | ||||||||||||||
Loans | 0 | 0 | ||||||||||||||||
Allowance for loan losses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||
Undevelopment Land Portfolio Segment [Member] | ||||||||||||||||||
Balance | 752 | 521 | 684 | 752 | 521 | 684 | ||||||||||||
Provision for loan and lease losses | 34 | 231 | (163) | |||||||||||||||
Charge-offs | 0 | 0 | 0 | |||||||||||||||
Recoveries | 0 | 0 | 0 | |||||||||||||||
Balance | 786 | 752 | 521 | 786 | 752 | 521 | ||||||||||||
Loans individually evaluated for impairment | 0 | 474 | ||||||||||||||||
Loans collectively evaluated for impairment | 46,360 | 29,618 | ||||||||||||||||
Loans | 46,360 | 30,092 | ||||||||||||||||
Allowance for loans individually evaluated for impairment | 0 | 0 | ||||||||||||||||
Allowance for loans collectively evaluated for impairment | 786 | 752 | ||||||||||||||||
Allowance for loan losses | 786 | 752 | 752 | 521 | 521 | 684 | 786 | 521 | 684 | 786 | 752 | |||||||
Undevelopment Land Portfolio Segment [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||||||||||||||||||
Balance | 0 | 0 | ||||||||||||||||
Balance | 0 | 0 | 0 | 0 | ||||||||||||||
Loans | 0 | 0 | ||||||||||||||||
Allowance for loan losses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||
Real Estate Mortgage Portfolio Segment [Member] | ||||||||||||||||||
Balance | 10,681 | 11,012 | 10,573 | 10,681 | 11,012 | 10,573 | ||||||||||||
Provision for loan and lease losses | 1,021 | (261) | 383 | |||||||||||||||
Charge-offs | (38) | (132) | (98) | |||||||||||||||
Recoveries | 100 | 62 | 154 | |||||||||||||||
Balance | 11,764 | 10,681 | 11,012 | 11,764 | 10,681 | 11,012 | ||||||||||||
Loans individually evaluated for impairment | 3,307 | 1,641 | ||||||||||||||||
Loans collectively evaluated for impairment | 1,663,549 | 1,409,806 | ||||||||||||||||
Loans | 1,666,856 | 1,411,447 | ||||||||||||||||
Allowance for loans individually evaluated for impairment | 13 | 14 | ||||||||||||||||
Allowance for loans collectively evaluated for impairment | 11,751 | 10,667 | ||||||||||||||||
Allowance for loan losses | 11,764 | 10,681 | 10,681 | 11,012 | 11,012 | 10,573 | 11,764 | 11,012 | 10,573 | 11,764 | 10,681 | |||||||
Real Estate Mortgage Portfolio Segment [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||||||||||||||||||
Balance | 0 | 0 | ||||||||||||||||
Balance | 0 | 0 | 0 | 0 | ||||||||||||||
Loans | 0 | 0 | ||||||||||||||||
Allowance for loan losses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||
Consumer Portfolio Segment [Member] | ||||||||||||||||||
Balance | 376 | 352 | 344 | 376 | 352 | 344 | ||||||||||||
Provision for loan and lease losses | (95) | 160 | 156 | |||||||||||||||
Charge-offs | (552) | (476) | (549) | |||||||||||||||
Recoveries | 371 | 340 | 401 | |||||||||||||||
Balance | 100 | 376 | 352 | 100 | 376 | 352 | ||||||||||||
Loans individually evaluated for impairment | 0 | 0 | ||||||||||||||||
Loans collectively evaluated for impairment | 47,467 | 48,058 | ||||||||||||||||
Loans | 47,467 | 48,058 | ||||||||||||||||
Allowance for loans individually evaluated for impairment | 0 | 0 | ||||||||||||||||
Allowance for loans collectively evaluated for impairment | 100 | 376 | ||||||||||||||||
Allowance for loan losses | 100 | 376 | 376 | $ 352 | $ 352 | $ 344 | 100 | 352 | $ 344 | 100 | 376 | |||||||
Consumer Portfolio Segment [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||||||||||||||||||
Balance | 0 | 0 | ||||||||||||||||
Balance | 0 | 0 | 0 | 0 | ||||||||||||||
Loans | 0 | 0 | ||||||||||||||||
Allowance for loan losses | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | |||||||||||
[1] | Total loans are presented inclusive of premiums, discounts, and net loan origination fees and costs. | |||||||||||||||||
[2] | Consists of land acquired for development by the borrower, but for which no development has yet taken place. |
Note 5 - Loans - Non-accrual Lo
Note 5 - Loans - Non-accrual Loans (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Non-accrual loans | $ 11,494 | $ 2,611 |
Past Due 90-Days-or-More and Still Accruing Interest | 535 | 745 |
Commercial and Industrial Portfolio Segment [Member] | ||
Non-accrual loans | 8,202 | 192 |
Past Due 90-Days-or-More and Still Accruing Interest | 0 | 12 |
Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | ||
Non-accrual loans | 0 | 318 |
Past Due 90-Days-or-More and Still Accruing Interest | 0 | 0 |
Undevelopment Land Portfolio Segment [Member] | ||
Non-accrual loans | 0 | 474 |
Past Due 90-Days-or-More and Still Accruing Interest | 0 | 0 |
Real Estate Mortgage Portfolio Segment [Member] | ||
Non-accrual loans | 3,292 | 1,627 |
Past Due 90-Days-or-More and Still Accruing Interest | 535 | 733 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Investment [Member] | ||
Non-accrual loans | 740 | 138 |
Past Due 90-Days-or-More and Still Accruing Interest | 396 | 99 |
Real Estate Mortgage Portfolio Segment [Member] | Owner Occupied Commercial [Member] | ||
Non-accrual loans | 2,278 | 586 |
Past Due 90-Days-or-More and Still Accruing Interest | 0 | 535 |
Real Estate Mortgage Portfolio Segment [Member] | One to Four Family Residential [Member] | ||
Non-accrual loans | 123 | 760 |
Past Due 90-Days-or-More and Still Accruing Interest | 104 | 0 |
Real Estate Mortgage Portfolio Segment [Member] | Home Equity First Lien [Member] | ||
Non-accrual loans | 0 | 0 |
Past Due 90-Days-or-More and Still Accruing Interest | 0 | 0 |
Real Estate Mortgage Portfolio Segment [Member] | Home Equity Junior Lien [Member] | ||
Non-accrual loans | 151 | 143 |
Past Due 90-Days-or-More and Still Accruing Interest | 35 | 99 |
Consumer Portfolio Segment [Member] | ||
Non-accrual loans | 0 | 0 |
Past Due 90-Days-or-More and Still Accruing Interest | $ 0 | $ 0 |
Note 5 - Loans - Outstanding TD
Note 5 - Loans - Outstanding TDRs (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Balance | $ 34 | $ 42 |
Specific Reserve Allocation | 34 | 42 |
Additional Commitment to Lend | 0 | 0 |
Commercial and Industrial Loans [Member] | ||
Balance | 21 | 28 |
Specific Reserve Allocation | 21 | 28 |
Additional Commitment to Lend | 0 | 0 |
One to Four Family Residential [Member] | ||
Balance | 13 | 14 |
Specific Reserve Allocation | 13 | 14 |
Additional Commitment to Lend | $ 0 | $ 0 |
Note 5 - Loans - Loans Individu
Note 5 - Loans - Loans Individually Evaluated for Impairment (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Loans with no related allowance recorded, recorded investment | $ 3,468 | $ 2,611 | $ 7,332 |
Loans with no related allowance recorded, unpaid principal balance | 3,926 | 3,766 | 9,072 |
Loans with no related allowance recorded, average recorded investment | 3,019 | 3,948 | 4,304 |
Loans with no related allowance recorded, interest income recognized | 0 | 0 | 0 |
Loans with an allowance recorded, recorded investment | 8,062 | 42 | 48 |
Loans with an allowance recorded, unpaid principal balance | 8,062 | 42 | 48 |
Related allowance | 1,163 | 42 | 48 |
Loans with an allowance recorded, average recorded investment | 1,644 | 2,786 | 1,981 |
Loans with an allowance recorded, interest income recognized | 0 | 3 | 78 |
Recorded investment | 11,530 | 2,653 | 7,380 |
Unpaid principal balance | 11,988 | 3,808 | 9,120 |
Average recorded investment | 4,663 | 6,734 | 6,285 |
Interest income recognized | 0 | 3 | 78 |
Commercial and Industrial Portfolio Segment [Member] | |||
Loans with no related allowance recorded, recorded investment | 174 | 192 | 1,142 |
Loans with no related allowance recorded, unpaid principal balance | 174 | 707 | 2,202 |
Loans with no related allowance recorded, average recorded investment | 166 | 161 | 411 |
Loans with no related allowance recorded, interest income recognized | 0 | 0 | 0 |
Loans with an allowance recorded, recorded investment | 8,049 | 28 | 34 |
Loans with an allowance recorded, unpaid principal balance | 8,049 | 28 | 34 |
Related allowance | 1,150 | 28 | 34 |
Loans with an allowance recorded, average recorded investment | 1,631 | 1,851 | 1,882 |
Loans with an allowance recorded, interest income recognized | 0 | 2 | 78 |
Recorded investment | 8,223 | 220 | 1,176 |
Unpaid principal balance | 8,223 | 735 | 2,236 |
Average recorded investment | 1,797 | 2,012 | 2,293 |
Interest income recognized | 0 | 2 | 78 |
Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | |||
Loans with no related allowance recorded, recorded investment | 0 | 318 | 664 |
Loans with no related allowance recorded, unpaid principal balance | 0 | 489 | 834 |
Loans with no related allowance recorded, average recorded investment | 64 | 437 | 559 |
Loans with no related allowance recorded, interest income recognized | 0 | 0 | 0 |
Loans with an allowance recorded, recorded investment | 0 | 0 | 0 |
Loans with an allowance recorded, unpaid principal balance | 0 | 0 | 0 |
Related allowance | 0 | 0 | 0 |
Loans with an allowance recorded, average recorded investment | 0 | 0 | 0 |
Loans with an allowance recorded, interest income recognized | 0 | 0 | 0 |
Recorded investment | 0 | 318 | 664 |
Unpaid principal balance | 0 | 489 | 834 |
Average recorded investment | 64 | 437 | 559 |
Interest income recognized | 0 | 0 | 0 |
Undevelopment Land Portfolio Segment [Member] | |||
Loans with no related allowance recorded, recorded investment | 0 | 474 | 474 |
Loans with no related allowance recorded, unpaid principal balance | 0 | 506 | 506 |
Loans with no related allowance recorded, average recorded investment | 95 | 474 | 425 |
Loans with no related allowance recorded, interest income recognized | 0 | 0 | 0 |
Loans with an allowance recorded, recorded investment | 0 | 0 | 0 |
Loans with an allowance recorded, unpaid principal balance | 0 | 0 | 0 |
Related allowance | 0 | 0 | 0 |
Loans with an allowance recorded, average recorded investment | 0 | 24 | 48 |
Loans with an allowance recorded, interest income recognized | 0 | 0 | 0 |
Recorded investment | 0 | 474 | 474 |
Unpaid principal balance | 0 | 506 | 506 |
Average recorded investment | 95 | 498 | 473 |
Interest income recognized | 0 | 0 | 0 |
Real Estate Mortgage Portfolio Segment [Member] | |||
Loans with no related allowance recorded, recorded investment | 3,294 | 1,627 | 5,052 |
Loans with no related allowance recorded, unpaid principal balance | 3,752 | 2,064 | 5,530 |
Loans with no related allowance recorded, average recorded investment | 2,694 | 2,853 | 2,909 |
Loans with no related allowance recorded, interest income recognized | 0 | 0 | 0 |
Loans with an allowance recorded, recorded investment | 13 | 14 | 14 |
Loans with an allowance recorded, unpaid principal balance | 13 | 14 | 14 |
Related allowance | 13 | 14 | 14 |
Loans with an allowance recorded, average recorded investment | 13 | 911 | 5 |
Loans with an allowance recorded, interest income recognized | 0 | 1 | 0 |
Recorded investment | 3,307 | 1,641 | 5,066 |
Unpaid principal balance | 3,765 | 2,078 | 5,544 |
Average recorded investment | 2,707 | 3,764 | 2,914 |
Interest income recognized | 0 | 1 | 0 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Investment [Member] | |||
Loans with no related allowance recorded, recorded investment | 741 | 138 | 52 |
Loans with no related allowance recorded, unpaid principal balance | 741 | 138 | 53 |
Loans with no related allowance recorded, average recorded investment | 448 | 35 | 110 |
Loans with no related allowance recorded, interest income recognized | 0 | 0 | 0 |
Loans with an allowance recorded, recorded investment | 0 | 0 | 0 |
Loans with an allowance recorded, unpaid principal balance | 0 | 0 | 0 |
Related allowance | 0 | 0 | 0 |
Loans with an allowance recorded, average recorded investment | 0 | 0 | 0 |
Loans with an allowance recorded, interest income recognized | 0 | 0 | 0 |
Recorded investment | 741 | 138 | 52 |
Unpaid principal balance | 741 | 138 | 53 |
Average recorded investment | 448 | 35 | 110 |
Interest income recognized | 0 | 0 | 0 |
Real Estate Mortgage Portfolio Segment [Member] | Owner Occupied Commercial [Member] | |||
Loans with no related allowance recorded, recorded investment | 2,278 | 586 | 3,332 |
Loans with no related allowance recorded, unpaid principal balance | 2,736 | 1,023 | 3,789 |
Loans with no related allowance recorded, average recorded investment | 1,437 | 1,503 | 1,678 |
Loans with no related allowance recorded, interest income recognized | 0 | 0 | 0 |
Loans with an allowance recorded, recorded investment | 0 | 0 | 0 |
Loans with an allowance recorded, unpaid principal balance | 0 | 0 | 0 |
Related allowance | 0 | 0 | 0 |
Loans with an allowance recorded, average recorded investment | 0 | 897 | 0 |
Loans with an allowance recorded, interest income recognized | 0 | 0 | 0 |
Recorded investment | 2,278 | 586 | 3,332 |
Unpaid principal balance | 2,736 | 1,023 | 3,789 |
Average recorded investment | 1,437 | 2,400 | 1,678 |
Interest income recognized | 0 | 0 | 0 |
Real Estate Mortgage Portfolio Segment [Member] | One to Four Family Residential [Member] | |||
Loans with no related allowance recorded, recorded investment | 124 | 760 | 1,637 |
Loans with no related allowance recorded, unpaid principal balance | 124 | 760 | 1,657 |
Loans with no related allowance recorded, average recorded investment | 516 | 1,242 | 935 |
Loans with no related allowance recorded, interest income recognized | 0 | 0 | 0 |
Loans with an allowance recorded, recorded investment | 13 | 14 | 14 |
Loans with an allowance recorded, unpaid principal balance | 13 | 14 | 14 |
Related allowance | 13 | 14 | 14 |
Loans with an allowance recorded, average recorded investment | 13 | 14 | 5 |
Loans with an allowance recorded, interest income recognized | 0 | 1 | 0 |
Recorded investment | 137 | 774 | 1,651 |
Unpaid principal balance | 137 | 774 | 1,671 |
Average recorded investment | 529 | 1,256 | 940 |
Interest income recognized | 0 | 1 | 0 |
Real Estate Mortgage Portfolio Segment [Member] | Home Equity First Lien [Member] | |||
Loans with no related allowance recorded, recorded investment | 0 | 0 | 0 |
Loans with no related allowance recorded, unpaid principal balance | 0 | 0 | 0 |
Loans with no related allowance recorded, average recorded investment | 0 | 0 | 0 |
Loans with no related allowance recorded, interest income recognized | 0 | 0 | 0 |
Loans with an allowance recorded, recorded investment | 0 | 0 | 0 |
Loans with an allowance recorded, unpaid principal balance | 0 | 0 | 0 |
Related allowance | 0 | 0 | 0 |
Loans with an allowance recorded, average recorded investment | 0 | 0 | 0 |
Loans with an allowance recorded, interest income recognized | 0 | 0 | 0 |
Recorded investment | 0 | 0 | 0 |
Unpaid principal balance | 0 | 0 | 0 |
Average recorded investment | 0 | 0 | 0 |
Interest income recognized | 0 | 0 | 0 |
Real Estate Mortgage Portfolio Segment [Member] | Home Equity Junior Lien [Member] | |||
Loans with no related allowance recorded, recorded investment | 151 | 143 | 31 |
Loans with no related allowance recorded, unpaid principal balance | 151 | 143 | 31 |
Loans with no related allowance recorded, average recorded investment | 293 | 73 | 186 |
Loans with no related allowance recorded, interest income recognized | 0 | 0 | 0 |
Loans with an allowance recorded, recorded investment | 0 | 0 | 0 |
Loans with an allowance recorded, unpaid principal balance | 0 | 0 | 0 |
Related allowance | 0 | 0 | 0 |
Loans with an allowance recorded, average recorded investment | 0 | 0 | 0 |
Loans with an allowance recorded, interest income recognized | 0 | 0 | 0 |
Recorded investment | 151 | 143 | 31 |
Unpaid principal balance | 151 | 143 | 31 |
Average recorded investment | 293 | 73 | 186 |
Interest income recognized | 0 | 0 | 0 |
Consumer Portfolio Segment [Member] | |||
Loans with no related allowance recorded, recorded investment | 0 | 0 | 0 |
Loans with no related allowance recorded, unpaid principal balance | 0 | 0 | 0 |
Loans with no related allowance recorded, average recorded investment | 0 | 23 | 0 |
Loans with no related allowance recorded, interest income recognized | 0 | 0 | 0 |
Loans with an allowance recorded, recorded investment | 0 | 0 | 0 |
Loans with an allowance recorded, unpaid principal balance | 0 | 0 | 0 |
Related allowance | 0 | 0 | 0 |
Loans with an allowance recorded, average recorded investment | 0 | 0 | 46 |
Loans with an allowance recorded, interest income recognized | 0 | 0 | 0 |
Recorded investment | 0 | 0 | 0 |
Unpaid principal balance | 0 | 0 | 0 |
Average recorded investment | 0 | 23 | 46 |
Interest income recognized | $ 0 | $ 0 | $ 0 |
Note 5 - Loans - Aging of the R
Note 5 - Loans - Aging of the Recorded Investment in Loans (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 | |
Current | $ 2,829,857 | $ 2,537,627 | |
Past due | 15,159 | 10,544 | |
Loans | [1] | 2,845,016 | 2,548,171 |
Financial Asset, 30 to 59 Days Past Due [Member] | |||
Past due | 2,647 | 5,112 | |
Financial Asset, 60 to 89 Days Past Due [Member] | |||
Past due | 467 | 2,076 | |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Past due | 12,045 | 3,356 | |
Commercial and Industrial Portfolio Segment [Member] | |||
Current | 861,860 | 832,923 | |
Past due | 8,651 | 601 | |
Loans | 870,511 | 833,524 | |
Commercial and Industrial Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | |||
Past due | 253 | 197 | |
Commercial and Industrial Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | |||
Past due | 194 | 200 | |
Commercial and Industrial Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Past due | 8,204 | 204 | |
Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | |||
Current | 213,766 | 224,732 | |
Past due | 56 | 318 | |
Loans | [2] | 213,822 | 225,050 |
Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | |||
Past due | 6 | 0 | |
Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | |||
Past due | 50 | 0 | |
Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Past due | 0 | 318 | |
Undevelopment Land Portfolio Segment [Member] | |||
Current | 46,360 | 29,552 | |
Past due | 0 | 540 | |
Loans | 46,360 | 30,092 | |
Undevelopment Land Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | |||
Past due | 0 | 66 | |
Undevelopment Land Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | |||
Past due | 0 | 0 | |
Undevelopment Land Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Past due | 0 | 474 | |
Real Estate Mortgage Portfolio Segment [Member] | |||
Current | 1,660,492 | 1,402,362 | |
Past due | 6,364 | 9,085 | |
Loans | 1,666,856 | 1,411,447 | |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Investment [Member] | |||
Current | 735,387 | 586,884 | |
Past due | 1,231 | 1,726 | |
Loans | 736,618 | 588,610 | |
Real Estate Mortgage Portfolio Segment [Member] | Owner Occupied Commercial [Member] | |||
Current | 470,951 | 421,143 | |
Past due | 2,832 | 5,230 | |
Loans | 473,783 | 426,373 | |
Real Estate Mortgage Portfolio Segment [Member] | One to Four Family Residential [Member] | |||
Current | 332,718 | 274,547 | |
Past due | 1,640 | 1,470 | |
Loans | 334,358 | 276,017 | |
Real Estate Mortgage Portfolio Segment [Member] | Home Equity First Lien [Member] | |||
Current | 48,441 | 49,321 | |
Past due | 179 | 179 | |
Loans | 48,620 | 49,500 | |
Real Estate Mortgage Portfolio Segment [Member] | Home Equity Junior Lien [Member] | |||
Current | 72,995 | 70,467 | |
Past due | 482 | 480 | |
Loans | 73,477 | 70,947 | |
Real Estate Mortgage Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | |||
Past due | 2,304 | 4,849 | |
Real Estate Mortgage Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Commercial Investment [Member] | |||
Past due | 94 | 1,382 | |
Real Estate Mortgage Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Owner Occupied Commercial [Member] | |||
Past due | 467 | 2,732 | |
Real Estate Mortgage Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | One to Four Family Residential [Member] | |||
Past due | 1,368 | 374 | |
Real Estate Mortgage Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Home Equity First Lien [Member] | |||
Past due | 179 | 179 | |
Real Estate Mortgage Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Home Equity Junior Lien [Member] | |||
Past due | 196 | 182 | |
Real Estate Mortgage Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | |||
Past due | 219 | 1,876 | |
Real Estate Mortgage Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Commercial Investment [Member] | |||
Past due | 0 | 107 | |
Real Estate Mortgage Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Owner Occupied Commercial [Member] | |||
Past due | 86 | 1,377 | |
Real Estate Mortgage Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | One to Four Family Residential [Member] | |||
Past due | 33 | 336 | |
Real Estate Mortgage Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Home Equity First Lien [Member] | |||
Past due | 0 | 0 | |
Real Estate Mortgage Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Home Equity Junior Lien [Member] | |||
Past due | 100 | 56 | |
Real Estate Mortgage Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Past due | 3,841 | 2,360 | |
Real Estate Mortgage Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial Investment [Member] | |||
Past due | 1,137 | 237 | |
Real Estate Mortgage Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Owner Occupied Commercial [Member] | |||
Past due | 2,279 | 1,121 | |
Real Estate Mortgage Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | One to Four Family Residential [Member] | |||
Past due | 239 | 760 | |
Real Estate Mortgage Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Home Equity First Lien [Member] | |||
Past due | 0 | 0 | |
Real Estate Mortgage Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Home Equity Junior Lien [Member] | |||
Past due | 186 | 242 | |
Consumer Portfolio Segment [Member] | |||
Current | 47,379 | 48,058 | |
Past due | 88 | 0 | |
Loans | 47,467 | 48,058 | |
Consumer Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | |||
Past due | 84 | 0 | |
Consumer Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | |||
Past due | 4 | 0 | |
Consumer Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Past due | $ 0 | $ 0 | |
[1] | Total loans are presented inclusive of premiums, discounts, and net loan origination fees and costs. | ||
[2] | Consists of land acquired for development by the borrower, but for which no development has yet taken place. |
Note 6 - Premises and Equipme_3
Note 6 - Premises and Equipment (Details Textual) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Depreciation, Total | $ 4.2 | $ 3.7 | $ 3.5 |
Note 6 - Premises and Equipme_4
Note 6 - Premises and Equipment - Summary of Premises and Equipment (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Premises and equipment, gross | $ 96,442 | $ 80,234 |
Right-of-use operating lease asset | 12,737 | 0 |
Accumulated depreciation and amortization | (37,824) | (35,470) |
Total premises and equipment | 58,618 | 44,764 |
Land [Member] | ||
Premises and equipment, gross | 10,241 | 9,664 |
Building and Building Improvements [Member] | ||
Premises and equipment, gross | 50,809 | 47,726 |
Furniture and Equipment [Member] | ||
Premises and equipment, gross | 22,032 | 21,793 |
Construction in Progress [Member] | ||
Premises and equipment, gross | $ 623 | $ 1,051 |
Note 6 - Premises and Equipme_5
Note 6 - Premises and Equipment- Balance Sheet, Income Statement, and Cash Flow Detail Regarding Operating Leases (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Right-of-use operating lease asset | $ 12,737 | $ 0 |
Weighted average remaining lease term (Year) | 9 years 4 months 17 days | |
Weighted average discount rate | 2.46% | |
One year or less | $ 1,964 | |
Year 2 | 1,915 | |
Year 3 | 1,930 | |
Year 4 | 1,972 | |
Year 5 | 1,781 | |
Greater than 5 years | 6,619 | |
Total lease payments | 16,181 | |
Less imputed interest | 1,812 | |
Operating lease cost | 1,870 | |
Variable lease cost | 152 | |
Less sublease income | 54 | |
Total lease cost | 1,968 | |
Operating cash flows from operating leases | 1,656 | |
Other Liabilities [Member] | ||
Operating lease liability | $ 14,369 |
Note 7 - Goodwill and Core De_3
Note 7 - Goodwill and Core Deposit Intangibles (Details Textual) - USD ($) | Dec. 31, 2019 | May 01, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2013 | Dec. 31, 1996 |
Goodwill, Ending Balance | $ 12,513,000 | $ 682,000 | $ 682,000 | |||
King Bancorp Inc. [Member] | ||||||
Goodwill, Ending Balance | $ 12,000,000 | $ 11,831,000 | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 1,519,000 | |||||
King Bancorp Inc. [Member] | Core Deposits [Member] | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | $ 1,500,000 | |||||
Indiana Bank [Member] | Commercial Banking [Member] | ||||||
Goodwill, Ending Balance | $ 682,000 | |||||
THE BANCorp [Member] | Core Deposits [Member] | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | $ 2,500,000 |
Note 7 - Goodwill and Core De_4
Note 7 - Goodwill and Core Deposit Intangibles - Carrying Value of Goodwill (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Balance at beginning of period | $ 682 | $ 682 |
Goodwill acquired | 12,144 | 0 |
Recast adjustments | (313) | 0 |
Impairment | 0 | 0 |
Balance at end of period | $ 12,513 | $ 682 |
Note 7 - Goodwill and Core De_5
Note 7 - Goodwill and Core Deposit Intangibles - Changes in the Net Carrying Amount of Core Deposit Intangibles (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Balance, beginning of period | $ 1,057 | ||
Balance, end of period | 2,285 | $ 1,057 | |
Core Deposits [Member] | |||
Balance, beginning of period | 1,057 | 1,225 | $ 1,405 |
Finite-lived Intangible Assets Acquired | 1,519 | 0 | 0 |
Amortized to expense | (291) | (168) | (180) |
Balance, end of period | $ 2,285 | $ 1,057 | $ 1,225 |
Note 7 - Goodwill and Core De_6
Note 7 - Goodwill and Core Deposit Intangibles - Future Amortization Expense (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Total future payments | $ 2,285 | $ 1,057 | ||
Core Deposits [Member] | ||||
2020 | 323 | |||
2021 | 302 | |||
2022 | 295 | |||
2023 | 259 | |||
2024 | 241 | |||
Beyond 2024 | 865 | |||
Total future payments | $ 2,285 | $ 1,057 | $ 1,225 | $ 1,405 |
Note 8 - Other Assets (Details
Note 8 - Other Assets (Details Textual) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Servicing Asset at Fair Value, Amount, Ending Balance | $ 3 | $ 4 |
Principal Amount Outstanding on Loans Managed and Securitized, Total | $ 327 | $ 328 |
Note 8 - Other Assets - Summary
Note 8 - Other Assets - Summary of Major Components of Other Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Cash surrender value of life insurance other than BOLI | $ 16,145 | $ 15,029 | ||
Net deferred tax asset | 14,466 | 10,193 | ||
Investments in tax credit related ventures | 6,248 | 4,537 | ||
Prepaid assets | 2,812 | 3,072 | ||
Trust fee receivable | 2,171 | 1,939 | ||
Mortgage servicing rights | 1,372 | 1,022 | $ 875 | $ 921 |
Other real estate owned | 493 | 1,018 | ||
Other | 7,232 | 8,362 | ||
Total other assets | $ 50,939 | $ 45,172 |
Note 8 - Other Assets - Changes
Note 8 - Other Assets - Changes in the Net Carrying Amount of MSRs (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Balance, beginning of period | $ 1,022 | $ 875 | $ 921 |
Additions | 506 | 302 | 225 |
Amortized to expense | (156) | (155) | (271) |
Balance, end of period | $ 1,372 | $ 1,022 | $ 875 |
Note 9 - Income Taxes (Details
Note 9 - Income Taxes (Details Textual) - USD ($) | 1 Months Ended | 3 Months Ended | 12 Months Ended | |||||
Apr. 30, 2019 | Mar. 31, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Jan. 01, 2021 | |
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability | $ 2,700,000 | $ (1,200,000) | ||||||
Income Tax Expense (Benefit), Continuing Operations, Adjustment to Per Diluted Share | $ 0.12 | $ 0.06 | ||||||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | 21.00% | 35.00% | |||||
Tax Cuts and Jobs Act, Income Tax Expense (Benefit), Total | $ 5,900,000 | |||||||
Deferred Tax Assets, Valuation Allowance, Total | $ 121,000 | $ 2,355,000 | ||||||
Operating Loss Carryforwards, Total | $ 64,700,000 | |||||||
Open Tax Year | 2016 2017 2018 2019 | |||||||
Forecast [Member] | ||||||||
Unrecognized Deferred Tax Asset that Would Impact Income Tax Expense (Benefit) | $ 200,000 | |||||||
State and Local Jurisdiction [Member] | Kentucky Department of Revenue [Member] | ||||||||
Franchise Tax as Percent of Net Capital | 1.10% | |||||||
Average Franchise Tax Over Two Year-end Periods | $ 2,500,000 | |||||||
State Corporate Income Tax as Percent of Earnings Before Income Tax Expense | 50.00% | 5.00% |
Note 9 - Income Taxes - Compone
Note 9 - Income Taxes - Components of Income Tax Expense (Benefit) from Operations (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Current income tax expense: | |||||||||||||||
Federal | $ 14,673 | $ 11,567 | $ 12,622 | ||||||||||||
State | 772 | 732 | 546 | ||||||||||||
Total current income tax expense | 15,445 | 12,299 | 13,168 | ||||||||||||
Deferred income tax expense (benefit) : | |||||||||||||||
Federal | (746) | (52) | 3,783 | ||||||||||||
State | (2,872) | (289) | (4) | ||||||||||||
Total deferred income tax expense (benefit) | (3,618) | (341) | 3,779 | ||||||||||||
Change in valuation allowance | (2,234) | 73 | 192 | ||||||||||||
Total income tax expense | $ 2,941 | $ 3,783 | $ 1,030 | $ 1,839 | $ 2,265 | $ 3,555 | $ 3,159 | $ 3,052 | $ 5,542 | $ 4,096 | $ 4,359 | $ 3,142 | $ 9,593 | $ 12,031 | $ 17,139 |
Note 9 - Income Taxes - Compo_2
Note 9 - Income Taxes - Components of Income Tax (Benefit) Expense Recorded Directly to Stockholders' Equity (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Unrealized (loss) gain on securities available for sale | $ 1,757 | $ (812) | $ (531) |
Reclassification adjustment for securities losses realized in income | 0 | 0 | 81 |
Unrealized gain on derivatives | (120) | 46 | 112 |
Minimum pension liability adjustment | (58) | 46 | (9) |
Total income tax (benefit) expense recorded directly to stockholders' equity | $ 1,579 | $ (720) | $ (347) |
Note 9 - Income Taxes - Differe
Note 9 - Income Taxes - Difference Between Statutory and Effective Tax Rates (Details) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
U.S. federal statutory income tax rate | 21.00% | 21.00% | 35.00% |
Kentucky state income tax enactments | (5.20%) | 0.00% | 0.00% |
Net deferred tax asset remeasurement | 0.00% | (0.50%) | 10.80% |
Excess tax benefits from stock-based compensation arrangements | (1.00%) | (0.80%) | (2.60%) |
Increase in cash surrender value of life insurance | (0.90%) | (0.40%) | (1.50%) |
Tax credits | (1.90%) | (1.80%) | (14.40%) |
Tax exempt interest income | (0.30%) | (0.40%) | (1.20%) |
Amortization/impairment of investments in tax credit partnerships | 0.30% | 0.40% | 3.40% |
State income taxes, net of federal benefit | 0.70% | 0.80% | 0.70% |
Other, net | 0.00% | (0.50%) | 0.90% |
Effective tax rate | 12.70% | 17.80% | 31.10% |
Note 9 - Income Taxes - Deferre
Note 9 - Income Taxes - Deferred Tax Assets and Deferred Tax Liabilities (Details) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Allowance for loan loss | $ 6,633,000 | $ 5,567,000 |
Deferred compensation | 5,758,000 | 4,703,000 |
Operating lease liability | 3,427,000 | 0 |
State net operating loss | 2,550,000 | 2,201,000 |
Accrued expenses | 1,486,000 | 968,000 |
Securities | 0 | 756,000 |
Investments in tax credit partnerships | 655,000 | 543,000 |
Loans | 501,000 | 434,000 |
Other assets | 228,000 | 181,000 |
Write-downs and costs associated with other real estate owned | 22,000 | 7,000 |
Total deferred tax assets | 21,260,000 | 15,360,000 |
Property and equipment | 1,054,000 | 1,154,000 |
Right-of-use operating lease asset | 3,154,000 | 0 |
Securities | 748,000 | 0 |
Loan costs | 767,000 | 632,000 |
Mortgage servicing rights | 299,000 | 193,000 |
Leases | 266,000 | 336,000 |
Core deposit intangible | 202,000 | 230,000 |
Other liabilities | 183,000 | 267,000 |
Total deferred tax liabilities | 6,673,000 | 2,812,000 |
Valuation allowance | (121,000) | (2,355,000) |
Net deferred tax asset | $ 14,466,000 | $ 10,193,000 |
Note 10 - Deposits (Details Tex
Note 10 - Deposits (Details Textual) - USD ($) | May 01, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Interest-bearing Domestic Deposit, Brokered | $ 30,000,000 | $ 30,000,000 | ||
Interest Expense, Time Deposits, 250,000 or More | 1,300,000 | 431,000 | $ 161,000 | |
Related Party Deposit Liabilities | 81,000,000 | 42,000,000 | ||
Deposit Liabilities Reclassified as Loans Receivable | $ 692,000 | $ 886,000 | ||
King Bancorp Inc. [Member] | ||||
Finite-lived Intangible Assets Acquired | $ 126,000,000 |
Note 10 - Deposits - Compositio
Note 10 - Deposits - Composition of Deposits (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 | |
Non-interest bearing demand deposits | $ 810,475 | $ 711,023 | |
Interest bearing demand | 979,595 | 892,867 | |
Savings | 169,622 | 155,007 | |
Money market | 742,029 | 688,744 | |
Time deposits of $250,000 or more | 81,412 | 55,182 | |
Other time deposits | 350,805 | 291,533 | |
Total time deposits | [1] | 432,217 | 346,715 |
Total interest bearing deposits | 2,323,463 | 2,083,333 | |
Total deposits | $ 3,133,938 | $ 2,794,356 | |
[1] | Includes $30 million in brokered deposits as of December 31, 2019 and 2018. |
Note 10 - Deposits - Maturities
Note 10 - Deposits - Maturities of Time Deposits (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 | |
2020 | $ 273,568 | ||
2021 | 129,676 | ||
2022 | 11,729 | ||
2023 | 10,049 | ||
2024 | 7,094 | ||
2025 and thereafter | 101 | ||
Total time deposits | [1] | $ 432,217 | $ 346,715 |
[1] | Includes $30 million in brokered deposits as of December 31, 2019 and 2018. |
Note 11 - Securities Sold Und_3
Note 11 - Securities Sold Under Agreements to Repurchase - Securities Sold Under Agreements to Repurchase (Details) - Securities Sold under Agreements to Repurchase [Member] - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Outstanding balance at end of period | $ 31,895 | $ 36,094 | |
Weighted average interest rate at end of period | 0.22% | 0.27% | |
Average outstanding balance during the period | $ 38,555 | $ 62,580 | $ 70,187 |
Average interest rate during the period | 0.26% | 0.25% | 0.19% |
Maximum outstanding at any month end during the period | $ 52,599 | $ 74,725 | $ 75,365 |
Note 12 - FHLB Advances (Detail
Note 12 - FHLB Advances (Details Textual) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | May 01, 2019USD ($) | |
Federal Home Loan Bank, Number of Separate Advances | 57 | 14 | |
Advances from Federal Home Loan Banks, Total | $ 79,953 | $ 48,177 | |
Federal Home Loan Bank, Number of Separate Advances Principal Due at Maturity | 15 | ||
Advances From Federal Home Loan Banks, Principal Due at Maturity | $ 50,000 | ||
Federal Home Loan Bank, Advances, General Debt Obligations, Maximum Amount Available | 599,000 | 537,000 | |
Correspondent Banks [Member] | |||
Federal Funds Corresponding Banks Maximum Amount Available | $ 105,000 | $ 105,000 | |
King Bancorp Inc. [Member] | |||
Federal Home Loan Bank, Number of Separate Advances | 46 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Federal Home Loan Bank Advances | $ 43,000 | $ 43,299 |
Note 12 - FHLB Advances - Contr
Note 12 - FHLB Advances - Contractual Maturities and Average Effective Rates of Outstanding Advances (Details) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
2021 | $ 6,004,000 | |
2022 | 3,193,000 | |
2023 | 2,655,000 | |
Advances from Federal Home Loan Banks, Total | 79,953,000 | $ 48,177,000 |
Federal Home Loan Bank Advances Outstanding [Member] | ||
2021 | $ 50,004,000 | |
Fixed rate, 2020 | 1.99% | |
2022 | $ 2,400,000 | $ 1,691,000 |
Fixed rate, 2020 | 2.52% | 2.23% |
2023 | $ 215,000 | |
Fixed rate, 2021 | 2.12% | |
Advance, 2023 | $ 456,000 | $ 0 |
Fixed rate, 2023 | 1.00% | 0.00% |
Advance, 2024 | $ 2,023,000 | |
Fixed rate, 2024 | 2.36% | |
Advance, 2024 | $ 3,774,000 | $ 2,240,000 |
Fixed rate, 2024 | 2.41% | 2.36% |
Advance, 2025 | $ 8,156,000 | $ 4,626,000 |
Fixed rate, 2025 | 1.96% | 2.42% |
Advance, 2026 | $ 7,445,000 | $ 8,185,000 |
Fixed rate, 2026 | 1.73% | 1.99% |
Advance, 2027 | $ 5,695,000 | $ 0 |
Fixed rate, 2027 | 2.32% | 0.00% |
Advance, 2028 | $ 1,220,000 | |
Fixed rate, 2028 | 1.49% | |
Advances from Federal Home Loan Banks, Total | $ 79,953,000 | $ 18,177,000 |
Fixed rate | 2.02% | 2.14% |
Note 12 - FHLB Advances - Futur
Note 12 - FHLB Advances - Future Minimum Payments (Details) $ in Thousands | Dec. 31, 2019USD ($) |
2020 | $ 55,680 |
2021 | 6,004 |
2022 | 3,193 |
2023 | 2,655 |
2024 | 3,122 |
2025 and beyond | $ 9,299 |
Note 13 - Other Comprehensive_3
Note 13 - Other Comprehensive Income (Loss) (Details Textual) - USD ($) | 3 Months Ended | 12 Months Ended | ||||
Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
Stockholders' Equity Attributable to Parent, Ending Balance | $ 406,297,000 | $ 366,500,000 | $ 333,644,000 | $ 313,872,000 | ||
Tax Cuts and Jobs Act, Reclassification from AOCI to Retained Earnings, Tax Effect | $ 0 | |||||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | 21.00% | 35.00% | |||
Accounting Standards Update 2018-02 [Member] | ||||||
Tax Cuts and Jobs Act, Reclassification from AOCI to Retained Earnings, Tax Effect | $ (506,000) | |||||
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member] | ||||||
Stockholders' Equity Attributable to Parent, Ending Balance | $ 1,085,000 | $ (5,330,000) | $ (1,781,000) | [1] | (1,211,000) | |
Tax Cuts and Jobs Act, Reclassification from AOCI to Retained Earnings, Tax Effect | (496,000) | |||||
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member] | ||||||
Stockholders' Equity Attributable to Parent, Ending Balance | (37,000) | 408,000 | 193,000 | [1] | (16,000) | |
Tax Cuts and Jobs Act, Reclassification from AOCI to Retained Earnings, Tax Effect | 41,000 | |||||
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | ||||||
Stockholders' Equity Attributable to Parent, Ending Balance | $ (371,000) | (220,000) | (342,000) | [1] | $ (272,000) | |
Tax Cuts and Jobs Act, Reclassification from AOCI to Retained Earnings, Tax Effect | $ (51,000) | |||||
Previously Reported [Member] | AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member] | ||||||
Stockholders' Equity Attributable to Parent, Ending Balance | (2,278,000) | |||||
Previously Reported [Member] | Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member] | ||||||
Stockholders' Equity Attributable to Parent, Ending Balance | 234,000 | |||||
Previously Reported [Member] | Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | ||||||
Stockholders' Equity Attributable to Parent, Ending Balance | $ (392,000) | |||||
[1] | December 31, 2017 AOCI component balances reflect a correction of incorrectly reported year-end balances in the Footnote titled "Other Comprehensive Income (Loss)" of the 2017 Form 10-K, which were presented as $(2,278), $234, and $(392) for securities AFS, cash flow hedges, and minimum pension liability, respectively. |
Note 13 - Other Comprehensive_4
Note 13 - Other Comprehensive Income (Loss) - Accumulated Other Comprehensive Income (Loss) by Component (Details) - USD ($) $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |||
Balance | $ 366,500 | $ 333,644 | $ 313,872 | ||
Balance | 406,297 | 366,500 | 333,644 | ||
Net current period other comprehensive income (loss) | 5,819 | (2,706) | (431) | ||
Reclassification adjustment - ASU 2018-02 | 0 | ||||
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member] | |||||
Balance | (5,330) | (1,781) | [1] | (1,211) | |
Net current period other comprehensive income gain (loss) | (721) | ||||
Amounts reclassifed from AOCI | 151 | ||||
Balance | 1,085 | (5,330) | (1,781) | [1] | |
Net current period other comprehensive income (loss) | 6,415 | (3,053) | |||
Reclassification adjustment - ASU 2018-02 | (496) | ||||
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member] | |||||
Balance | 408 | 193 | [1] | (16) | |
Net current period other comprehensive income gain (loss) | 209 | ||||
Amounts reclassifed from AOCI | 0 | ||||
Balance | (37) | 408 | 193 | [1] | |
Net current period other comprehensive income (loss) | (445) | 174 | |||
Reclassification adjustment - ASU 2018-02 | 41 | ||||
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | |||||
Balance | (220) | (342) | [1] | (272) | |
Net current period other comprehensive income gain (loss) | (70) | ||||
Amounts reclassifed from AOCI | 0 | ||||
Balance | (371) | (220) | (342) | [1] | |
Net current period other comprehensive income (loss) | (151) | 173 | |||
Reclassification adjustment - ASU 2018-02 | (51) | ||||
AOCI Attributable to Parent [Member] | |||||
Balance | (5,142) | (1,930) | [1] | (1,499) | |
Net current period other comprehensive income gain (loss) | (582) | ||||
Amounts reclassifed from AOCI | 151 | ||||
Balance | 677 | (5,142) | (1,930) | [1] | |
Net current period other comprehensive income (loss) | $ 5,819 | (2,706) | $ (431) | ||
Reclassification adjustment - ASU 2018-02 | $ (506) | ||||
[1] | December 31, 2017 AOCI component balances reflect a correction of incorrectly reported year-end balances in the Footnote titled "Other Comprehensive Income (Loss)" of the 2017 Form 10-K, which were presented as $(2,278), $234, and $(392) for securities AFS, cash flow hedges, and minimum pension liability, respectively. |
Note 13 - Other Comprehensive_5
Note 13 - Other Comprehensive Income (Loss) - Reclassifications Out of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Income tax expense | $ 2,941 | $ 3,783 | $ 1,030 | $ 1,839 | $ 2,265 | $ 3,555 | $ 3,159 | $ 3,052 | $ 5,542 | $ 4,096 | $ 4,359 | $ 3,142 | $ 9,593 | $ 12,031 | $ 17,139 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | |||||||||||||||
Income tax expense | 0 | 0 | 81 | ||||||||||||
Reclassification, net of income taxes | 0 | 0 | (151) | ||||||||||||
Reclassification out of Accumulated Other Comprehensive Income [Member] | AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member] | |||||||||||||||
Realized loss on sale of securities available for sale | $ 0 | $ 0 | $ (232) |
Note 14 - Preferred Stock and_2
Note 14 - Preferred Stock and Common Stock (Details Textual) - $ / shares $ / shares in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Preferred Stock, No Par Value | $ 0 | $ 0 |
Preferred Stock, Shares Authorized | 1,000,000 | 1,000,000 |
Preferred Stock, Shares Issued, Total | 0 | 0 |
Note 15 - Net Income Per Shar_2
Note 15 - Net Income Per Share - Basic and Diluted Net Income Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Net income | $ 16,649 | $ 17,234 | $ 16,543 | $ 15,641 | $ 14,658 | $ 13,876 | $ 13,579 | $ 13,404 | $ 4,946 | $ 11,704 | $ 10,602 | $ 10,791 | $ 66,067 | $ 55,517 | $ 38,043 |
Weighted average shares outstanding - basic (in shares) | 22,598 | 22,619 | 22,532 | ||||||||||||
Dilutive securities (in shares) | 267 | 325 | 451 | ||||||||||||
Weighted average shares outstanding - diluted (in shares) | 22,865 | 22,944 | 22,983 | ||||||||||||
Net income per share, basic (in dollars per share) | $ 0.74 | $ 0.76 | $ 0.73 | $ 0.69 | $ 0.65 | $ 0.61 | $ 0.60 | $ 0.59 | $ 0.22 | $ 0.52 | $ 0.47 | $ 0.48 | $ 2.92 | $ 2.45 | $ 1.69 |
Net income per share, diluted (in dollars per share) | $ 0.73 | $ 0.76 | $ 0.72 | $ 0.68 | $ 0.64 | $ 0.60 | $ 0.59 | $ 0.58 | $ 0.22 | $ 0.51 | $ 0.46 | $ 0.47 | $ 2.89 | $ 2.42 | $ 1.66 |
Note 15 - Net Income Per Shar_3
Note 15 - Net Income Per Share - Antidiutive SARs (Details) - shares shares in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Stock Appreciation Rights (SARs) [Member] | ||
Antidilutive SARs (in shares) | 199 | 146 |
Note 16 - Employee Benefit Pl_3
Note 16 - Employee Benefit Plans (Details Textual) | 12 Months Ended | |||
Dec. 31, 2019USD ($)shares | Dec. 31, 2019USD ($)shares | Dec. 31, 2018USD ($)shares | Dec. 31, 2017USD ($) | |
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 6.00% | |||
Defined Benefit Plan, Employer Additional Contribution of Stock, Percent | 2.00% | |||
Defined Contribution Plan, Cost | $ 2,600,000 | $ 2,200,000 | $ 2,000,000 | |
Defined Contribution Plan, Shares, Held in Employee Stock Ownership and Profit Sharing Plan | shares | 508,000 | 508,000 | 568,000 | |
Deferred Compensation Arrangement with Individual, Contributions by Employer | $ 241,000 | $ 250,000 | $ 232,000 | |
Deferred Compensation Arrangement with Individual, Recorded Liability | $ 10,100,000 | 10,100,000 | $ 8,600,000 | |
Defined Benefit Plan, Number of Employees Covered | 3 | |||
Defined Benefit Plan, Number of Retired Employees Covered | 1 | |||
Deferred Compensation Arrangement with Individual, Requisite Service Period | 25 years | |||
Defined Benefit Plan, Accumulated Benefit Obligation | $ 2,300,000 | $ 2,300,000 | $ 2,100,000 |
Note 16 - Employee Benefit Pl_4
Note 16 - Employee Benefit Plans - Benefits Expected to Be Paid (Details) $ in Thousands | Dec. 31, 2019USD ($) |
2020 | $ 84 |
2021 | 0 |
2022 | 0 |
2023 | 0 |
2024 | 137 |
Beyond 2024 | 3,141 |
Total future payments | $ 3,362 |
Note 17 - Stock-based Compens_3
Note 17 - Stock-based Compensation (Details Textual) - USD ($) | 3 Months Ended | 12 Months Ended | |||||
Mar. 31, 2019 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized | 500,000 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 547,000 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance | 0 | 0 | |||||
Proceeds (Used for) and Received from Settlement of Stock Awards | $ 272,000 | $ 154,000 | |||||
Share-based Payment Arrangement, Expense, Tax Benefit | $ 751,000 | 846,000 | $ 607,000 | ||||
Common Stock, Capital Shares Reserved for Future Issuance | 118,000 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expected Shares to be Awarded | 156,000 | ||||||
Accounting Standards Update 2016-09 [Member] | |||||||
Share-based Payment Arrangement, Expense, Tax Benefit | $ 812,000 | $ 549,000 | $ 1,500,000 | ||||
Stock Appreciation Rights (SARs) [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | [1] | 547,000 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 53,000 | 100,000 | 46,000 | ||||
Share-based Payment Arrangement, Expense, Tax Benefit | $ 72,000 | $ 80,000 | $ 59,000 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Outstanding, Exercise Price | $ 25.06 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number, Ending Balance | 641,000 | ||||||
Stock Appreciation Rights (SARs) [Member] | Minimum [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Outstanding, Exercise Price | $ 14.02 | $ 14.02 | $ 14.02 | $ 14.02 | |||
Stock Appreciation Rights (SARs) [Member] | Maximum [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Outstanding, Exercise Price | $ 40 | $ 40 | $ 40 | $ 33.08 | |||
Stock Appreciation Rights (SARs) [Member] | Share-based Payment Arrangement, Tranche One [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 20.00% | ||||||
Restricted Stock [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 5 years | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 40,000 | 40,000 | 29,000 | ||||
Share-based Payment Arrangement, Expense, Tax Benefit | $ 249,000 | $ 231,000 | $ 216,000 | ||||
Common Stock, Capital Shares Reserved for Future Issuance | 108,000 | ||||||
Performance Shares [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | ||||||
Sharebased Compensation Arrangement by Share-based Payment Award Post Vesting Holding Period | 1 year | ||||||
Share-based Compensation Arrangement by Share-based Payment Award Liquidity Discount | 4.10% | 4.30% | 5.10% | ||||
Share-based Payment Arrangement, Expense, Tax Benefit | $ 361,000 | $ 483,000 | $ 286,000 | ||||
Performance Shares [Member] | Minimum [Member] | |||||||
Common Stock, Capital Shares Reserved for Future Issuance | 0 | ||||||
Performance Shares [Member] | Maximum [Member] | |||||||
Common Stock, Capital Shares Reserved for Future Issuance | 196,000 | ||||||
Restricted Stock Units (RSUs) [Member] | |||||||
Share-based Payment Arrangement, Expense, Tax Benefit | $ 69,000 | $ 52,000 | $ 46,000 | ||||
Common Stock, Capital Shares Reserved for Future Issuance | 10,000 | ||||||
Restricted Stock Units (RSUs) [Member] | Director [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 12 months | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 9,834 | 6,525 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Fair Value Granted | $ 330,000 | $ 247,000 | |||||
[1] | Under the 2015 Omnibus Equity Compensation Plan, shares of stock are authorized for issuance as incentive and non-qualified stock options, SARs, RSAs, and RSUs. |
Note 17 - Stock-based Compens_4
Note 17 - Stock-based Compensation - Fair Value Assumptions (Details) - Stock Appreciation Rights (SARs) [Member] | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Dividend yield | 2.54% | 2.56% | 2.72% |
Expected volatility | 20.39% | 20.17% | 19.47% |
Risk free interest rate | 2.52% | 2.96% | 2.29% |
Expected life of SARs (Year) | 7 years 2 months 12 days | 7 years | 7 years |
Note 17 - Stock-based Compens_5
Note 17 - Stock-based Compensation - Stock-based Compensation Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Expense | $ 3,578 | $ 4,027 | $ 2,892 |
Deferred tax benefit | (751) | (846) | (607) |
Total net expense | 2,827 | 3,181 | 2,285 |
Stock Appreciation Rights (SARs) [Member] | |||
Expense | 345 | 379 | 280 |
Deferred tax benefit | (72) | (80) | (59) |
Total net expense | 273 | 299 | 221 |
Restricted Stock [Member] | |||
Expense | 1,185 | 1,100 | 1,032 |
Deferred tax benefit | (249) | (231) | (216) |
Total net expense | 936 | 869 | 816 |
Restricted Stock Units (RSUs) [Member] | |||
Expense | 329 | 248 | 219 |
Deferred tax benefit | (69) | (52) | (46) |
Total net expense | 260 | 196 | 173 |
Performance Shares [Member] | |||
Expense | 1,719 | 2,300 | 1,361 |
Deferred tax benefit | (361) | (483) | (286) |
Total net expense | $ 1,358 | $ 1,817 | $ 1,075 |
Note 17 - Stock-based Compens_6
Note 17 - Stock-based Compensation - Unrecognized Stock-based Compensation Expense (Details) $ in Thousands | Dec. 31, 2019USD ($) |
2020 | $ 2,196 |
2021 | 1,526 |
2022 | 740 |
2023 | 420 |
2024 | 35 |
2025 | 0 |
Total estimated expense | 4,917 |
Stock Appreciation Rights (SARs) [Member] | |
2020 | 306 |
2021 | 248 |
2022 | 193 |
2023 | 118 |
2024 | 11 |
2025 | 0 |
Total estimated expense | 876 |
Restricted Stock [Member] | |
2020 | 1,035 |
2021 | 816 |
2022 | 547 |
2023 | 302 |
2024 | 24 |
2025 | 0 |
Total estimated expense | 2,724 |
Restricted Stock Units (RSUs) [Member] | |
2020 | 2 |
2021 | 0 |
2022 | 0 |
2023 | 0 |
2024 | 0 |
2025 | 0 |
Total estimated expense | 2 |
Performance Shares [Member] | |
2020 | 853 |
2021 | 462 |
2022 | 0 |
2023 | 0 |
2024 | 0 |
2025 | 0 |
Total estimated expense | $ 1,315 |
Note 17 - Stock-based Compens_7
Note 17 - Stock-based Compensation - SARs Activity (Details) - Stock Appreciation Rights (SARs) [Member] - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
Unvested (in shares) | 731 | 704 | 735 | ||
Outstanding, aggregate intrinsic value | [1] | $ 8,422 | $ 12,923 | $ 21,443 | |
Unvested, grant date weighted average cost (in dollars per share) | $ 3.83 | $ 3.47 | $ 3.26 | ||
Outstanding, weighted average remaining contractual life (Year) | 5 years 3 months 18 days | 5 years 2 months 12 days | 5 years 1 month 6 days | 5 years 6 months | |
Awarded (in shares) | 53 | 100 | 46 | ||
Granted, aggregate intrinsic value | [1] | $ 213 | $ 0 | $ 0 | |
Fair value at grant date (in dollars per share) | $ 6.24 | $ 6.07 | $ 6.34 | ||
Exercised (in shares) | (143) | (73) | (77) | ||
Exercised, aggregate intrinsic value | [1] | $ 3,025 | $ 1,654 | $ 1,855 | |
Exercised weighted average fair value (in dollars per share) | $ 3.47 | $ 3.43 | $ 3.18 | ||
Forfeited, exercise price (in dollars per share) | $ 0 | $ 0 | $ 0 | ||
Forfeited (in shares) | 0 | 0 | |||
Unvested (in shares) | 641 | 731 | 704 | 735 | |
Outstanding, exercise price (in dollars per share) | $ 25.06 | ||||
Outstanding, aggregate intrinsic value | [1] | $ 10,250 | $ 8,422 | $ 12,923 | $ 21,443 |
Unvested, grant date weighted average cost (in dollars per share) | $ 4.10 | $ 3.83 | $ 3.47 | $ 3.26 | |
Vested and exercisable (in shares) | 439 | ||||
Vested and exercisable, aggregate intrinsic value | [1] | $ 9,017 | |||
Vested and exercisable, weighted average fair value (in dollars per share) | $ 3.42 | ||||
Vested and exercisable, weighted average remaining contractual life (Year) | 4 years | ||||
Unvested (in shares) | 202 | ||||
Unvested, aggregate intrinsic value | [1] | $ 1,233 | |||
Unvested, weighted average fair value (in dollars per share) | $ 5.59 | ||||
Unvested, weighted average remaining contractual life (Year) | 7 years 10 months 24 days | ||||
Vested during 2019 (in shares) | 91 | ||||
Vested, aggregate intrinsic value | [1] | $ 1,110 | |||
Vested, weighted average fair value (in dollars per share) | $ 4.66 | ||||
Minimum [Member] | |||||
Outstanding, exercise price (in dollars per share) | 14.02 | 14.02 | 14.02 | ||
Granted, exercise price (in dollars per share) | 36.65 | 35.90 | 40 | ||
Exercised, exercise price (in dollars per share) | 14.02 | 14.02 | 14.02 | ||
Outstanding, exercise price (in dollars per share) | 14.02 | 14.02 | 14.02 | 14.02 | |
Vested and exercisable, exercise price (in dollars per share) | 14.02 | ||||
Unvested, exercise price (in dollars per share) | 22.96 | ||||
Vested, exercise price (in dollars per share) | 19.37 | ||||
Maximum [Member] | |||||
Outstanding, exercise price (in dollars per share) | 40 | 40 | 33.08 | ||
Granted, exercise price (in dollars per share) | 38.18 | 39.32 | 40 | ||
Exercised, exercise price (in dollars per share) | 22.96 | 19.37 | 17.89 | ||
Outstanding, exercise price (in dollars per share) | 40 | 40 | 40 | 33.08 | |
Vested and exercisable, exercise price (in dollars per share) | 40 | ||||
Unvested, exercise price (in dollars per share) | 40 | ||||
Vested, exercise price (in dollars per share) | 40 | ||||
Weighted Average [Member] | |||||
Outstanding, exercise price (in dollars per share) | 22.42 | 19.51 | 17.78 | ||
Granted, exercise price (in dollars per share) | 37.01 | 37.75 | 40 | ||
Exercised, exercise price (in dollars per share) | 15.99 | 15.32 | 15.41 | ||
Forfeited, exercise price (in dollars per share) | 0 | 0 | 0 | ||
Outstanding, exercise price (in dollars per share) | 25.06 | $ 22.42 | $ 19.51 | $ 17.78 | |
Vested and exercisable, exercise price (in dollars per share) | 20.53 | ||||
Unvested, exercise price (in dollars per share) | 34.93 | ||||
Vested, exercise price (in dollars per share) | $ 28.80 | ||||
[1] | Intrinsic value for SARs is defined as the amount by which the current market price of the underlying stock exceeds the exercise or grant price. |
Note 17 - Stock-based Compens_8
Note 17 - Stock-based Compensation - Options and SARS Outstanding (Details) shares in Thousands | Dec. 31, 2019$ / sharesshares |
Number of SARs outstanding (in shares) | 641 |
SARs exercisable (in shares) | 439 |
Weighted average exercise price of SARs outstanding (in dollars per share) | $ / shares | $ 25.06 |
Stock Options and Stock Appreciation Rights SARs Expiring in 2020 [Member] | |
Number of SARs outstanding (in shares) | 3 |
SARs exercisable (in shares) | 3 |
Weighted average exercise price of SARs outstanding (in dollars per share) | $ / shares | $ 14.02 |
Stock Options and Stock Appreciation Rights SARs Expiring in 2021 [Member] | |
Number of SARs outstanding (in shares) | 27 |
SARs exercisable (in shares) | 27 |
Weighted average exercise price of SARs outstanding (in dollars per share) | $ / shares | $ 15.88 |
Stock Options and Stock Appreciation Rights SARs Expiring in 2022 [Member] | |
Number of SARs outstanding (in shares) | 108 |
SARs exercisable (in shares) | 108 |
Weighted average exercise price of SARs outstanding (in dollars per share) | $ / shares | $ 15.25 |
Stock Options and Stock Appreciation Rights SARs Expiring in 2023 [Member] | |
Number of SARs outstanding (in shares) | 80 |
SARs exercisable (in shares) | 80 |
Weighted average exercise price of SARs outstanding (in dollars per share) | $ / shares | $ 15.26 |
Stock Options and Stock Appreciation Rights SARs Expiring in 2024 [Member] | |
Number of SARs outstanding (in shares) | 73 |
SARs exercisable (in shares) | 73 |
Weighted average exercise price of SARs outstanding (in dollars per share) | $ / shares | $ 19.37 |
Stock Options and Stock Appreciation Rights SARs Expiring in 2025 [Member] | |
Number of SARs outstanding (in shares) | 63 |
SARs exercisable (in shares) | 49 |
Weighted average exercise price of SARs outstanding (in dollars per share) | $ / shares | $ 23 |
Stock Options and Stock Appreciation Rights SARs Expiring in 2026 [Member] | |
Number of SARs outstanding (in shares) | 88 |
SARs exercisable (in shares) | 55 |
Weighted average exercise price of SARs outstanding (in dollars per share) | $ / shares | $ 25.84 |
Stock Appreciation Rights SARs Expiring in 2027 [Member] | |
Number of SARs outstanding (in shares) | 46 |
SARs exercisable (in shares) | 21 |
Weighted average exercise price of SARs outstanding (in dollars per share) | $ / shares | $ 40 |
Stock Appreciation Rights SARs Expiring in 2028 [Member] | |
Number of SARs outstanding (in shares) | 100 |
SARs exercisable (in shares) | 23 |
Weighted average exercise price of SARs outstanding (in dollars per share) | $ / shares | $ 37.75 |
Stock Appreciation Rights SARs Expiring in 2029 [Member] | |
Number of SARs outstanding (in shares) | 53 |
SARs exercisable (in shares) | 0 |
Weighted average exercise price of SARs outstanding (in dollars per share) | $ / shares | $ 37.01 |
Note 17 - Stock-based Compens_9
Note 17 - Stock-based Compensation - Restricted Stock (Details) - Restricted Stock [Member] - $ / shares shares in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Unvested (in shares) | 110 | 119 | 145 |
Unvested, grant date weighted average cost (in dollars per share) | $ 32.09 | $ 27.62 | $ 21.57 |
Awarded (in shares) | 40 | 40 | 29 |
Fair value at grant date (in dollars per share) | $ 34.88 | $ 35.89 | $ 44.85 |
Restrictions lapsed and shares released (in shares) | (40) | (44) | (47) |
Restrictions lapsed and shares released, grant date weighted average cost (in dollars per share) | $ 28.74 | $ 23.62 | $ 19.79 |
Forfeited (in shares) | (2) | (5) | (8) |
Shares forfeited, grant date weighted average cost (in dollars per share) | $ 35.36 | $ 31.35 | $ 25.18 |
Unvested (in shares) | 108 | 110 | 119 |
Unvested, grant date weighted average cost (in dollars per share) | $ 34.31 | $ 32.09 | $ 27.62 |
Note 17 - Stock-based Compen_10
Note 17 - Stock-based Compensation - Performance-based Restricted Stock Units (Details) - $ / shares | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Expected shares to be awarded (in shares) | 547,000 | ||
Performance Shares [Member] | |||
Vesting period (Year) | 3 years | ||
Performance Shares [Member] | Executive Officer [Member] | |||
Vesting period (Year) | 3 years | 3 years | 3 years |
Fair value at grant date (in dollars per share) | $ 32.03 | $ 31.54 | $ 35.66 |
Expected shares to be awarded (in shares) | 43,603 | 50,352 | 61,893 |
Note 17 - Share-based Compensat
Note 17 - Share-based Compensation - Number of Shares to Be Issued Upon Exercise of Outstanding Stock-based Awards (Details) | Dec. 31, 2019shares | |
Expected shares to be awarded (in shares) | 547,000 | |
Number of shares to be issued upon exercise (in shares) | 118,000 | |
Stock Appreciation Rights (SARs) [Member] | ||
Expected shares to be awarded (in shares) | 547,000 | [1] |
Restricted Stock [Member] | ||
Number of shares to be issued upon exercise (in shares) | 108,000 | |
Restricted Stock Units (RSUs) [Member] | ||
Number of shares to be issued upon exercise (in shares) | 10,000 | |
[1] | Under the 2015 Omnibus Equity Compensation Plan, shares of stock are authorized for issuance as incentive and non-qualified stock options, SARs, RSAs, and RSUs. |
Note 18 - Dividends (Details Te
Note 18 - Dividends (Details Textual) $ in Millions | 12 Months Ended |
Dec. 31, 2019USD ($) | |
Regulatory Dividend Restrictions, Period Considered for Deduction of Dividend Already Paid for, Net Income | 2 years |
Statutory Accounting Practices, Statutory Amount Available for Dividend Payments without Regulatory Approval | $ 52 |
Note 19 - Commitments and Con_3
Note 19 - Commitments and Contingent Liabilities (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Loss Contingency Accrual, Ending Balance | $ 350,000 | $ 350,000 |
Standby Letters of Credit [Member] | Minimum [Member] | ||
Guarantee Obligations, Agreement Term | 1 year | |
Standby Letters of Credit [Member] | Maximum [Member] | ||
Guarantee Obligations, Agreement Term | 2 years | |
Performance Guarantee [Member] | ||
Guarantee Obligation, Estimated Payment Under Default on Contract | $ 2,600,000 |
Note 19 - Commitments and Con_4
Note 19 - Commitments and Contingent Liabilities - Off Balance Sheet Commitments to Extend Credit (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Off balance sheet commitments to extend credit | $ 1,172,933 | $ 834,604 |
Commercial and Industrial Loans [Member] | ||
Off balance sheet commitments to extend credit | 416,195 | 309,920 |
Construction and Development [Member] | ||
Off balance sheet commitments to extend credit | 240,503 | 179,364 |
Home Equity Loans [Member] | ||
Off balance sheet commitments to extend credit | 155,920 | 147,907 |
Credit Cards [Member] | ||
Off balance sheet commitments to extend credit | 26,439 | 20,003 |
Overdrafts [Member] | ||
Off balance sheet commitments to extend credit | 32,715 | 21,751 |
Letters of Credit [Member] | ||
Off balance sheet commitments to extend credit | 24,193 | 20,891 |
Other Off Balance Sheet Commitments [Member] | ||
Off balance sheet commitments to extend credit | 40,083 | 33,369 |
Future Loan Commitments [Member] | ||
Off balance sheet commitments to extend credit | $ 236,885 | $ 101,399 |
Note 20 - Assets and Liabilit_3
Note 20 - Assets and Liabilities Measured and Reported at Fair Value (Details Textual) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Impaired Financing Receivable, Related Allowance | $ 1,163,000 | $ 42,000 | $ 48,000 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 8,062,000 | 42,000 | $ 48,000 |
Other Real Estate, Foreclosed Assets, and Repossessed Assets, Total | 493,000 | 1,000,000 | |
Impaired Loans [Member] | Appraisal Discount Method [Member] | |||
Assets, Fair Value Disclosure | 7,300,000 | 925,000 | |
Impaired Financing Receivable, Related Allowance | 1,200,000 | 42,000 | |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 8,400,000 | 967,000 | |
Mortgage Servicing Rights [Member] | |||
Impaired Financing Receivable, Related Allowance | 0 | 0 | |
Fair Value, Recurring [Member] | |||
Assets, Fair Value Disclosure | 473,434,000 | 438,030,000 | |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member] | |||
Assets, Fair Value Disclosure | 0 | 0 | |
Financial and Nonfinancial Liabilities, Fair Value Disclosure | $ 0 | $ 0 |
Note 20 - Assets and Liabilit_4
Note 20 - Assets and Liabilities Measured and Reported at Fair Value - Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Securities available-for-sale | $ 470,738 | $ 436,995 |
Securities available for sale (amortized cost of $469,313 in 2019 and $443,742 in 2018) | 470,738 | 436,995 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Securities available-for-sale | 209,944 | 261,039 |
Securities available for sale (amortized cost of $469,313 in 2019 and $443,742 in 2018) | 209,944 | 261,039 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Securities available-for-sale | 193,861 | 146,277 |
Securities available for sale (amortized cost of $469,313 in 2019 and $443,742 in 2018) | 193,861 | 146,277 |
US States and Political Subdivisions Debt Securities [Member] | ||
Securities available-for-sale | 17,036 | 29,679 |
Securities available for sale (amortized cost of $469,313 in 2019 and $443,742 in 2018) | 17,036 | 29,679 |
Fair Value, Recurring [Member] | ||
Securities available-for-sale | 470,738 | 436,995 |
Securities available for sale (amortized cost of $469,313 in 2019 and $443,742 in 2018) | 470,738 | 436,995 |
Interest rate swaps | 2,696 | 1,035 |
Total assets | 473,434 | 438,030 |
Interest rate swaps | 2,767 | 543 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available-for-sale | 49,897 | 0 |
Securities available for sale (amortized cost of $469,313 in 2019 and $443,742 in 2018) | 49,897 | 0 |
Interest rate swaps | 0 | 0 |
Total assets | 49,897 | 0 |
Interest rate swaps | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available-for-sale | 420,841 | 436,995 |
Securities available for sale (amortized cost of $469,313 in 2019 and $443,742 in 2018) | 420,841 | 436,995 |
Interest rate swaps | 2,696 | 1,035 |
Total assets | 423,537 | 438,030 |
Interest rate swaps | 2,767 | 543 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available-for-sale | 0 | 0 |
Securities available for sale (amortized cost of $469,313 in 2019 and $443,742 in 2018) | 0 | 0 |
Interest rate swaps | 0 | 0 |
Total assets | 0 | 0 |
Interest rate swaps | 0 | 0 |
Fair Value, Recurring [Member] | US Treasury and Government [Member] | ||
Securities available-for-sale | 49,897 | |
Securities available for sale (amortized cost of $469,313 in 2019 and $443,742 in 2018) | 49,897 | |
Fair Value, Recurring [Member] | US Treasury and Government [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available-for-sale | 49,897 | |
Securities available for sale (amortized cost of $469,313 in 2019 and $443,742 in 2018) | 49,897 | |
Fair Value, Recurring [Member] | US Treasury and Government [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available-for-sale | 0 | |
Securities available for sale (amortized cost of $469,313 in 2019 and $443,742 in 2018) | 0 | |
Fair Value, Recurring [Member] | US Treasury and Government [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available-for-sale | 0 | |
Securities available for sale (amortized cost of $469,313 in 2019 and $443,742 in 2018) | 0 | |
Fair Value, Recurring [Member] | US Government-sponsored Enterprises Debt Securities [Member] | ||
Securities available-for-sale | 209,944 | 261,039 |
Securities available for sale (amortized cost of $469,313 in 2019 and $443,742 in 2018) | 209,944 | 261,039 |
Fair Value, Recurring [Member] | US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available-for-sale | 0 | 0 |
Securities available for sale (amortized cost of $469,313 in 2019 and $443,742 in 2018) | 0 | 0 |
Fair Value, Recurring [Member] | US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available-for-sale | 209,944 | 261,039 |
Securities available for sale (amortized cost of $469,313 in 2019 and $443,742 in 2018) | 209,944 | 261,039 |
Fair Value, Recurring [Member] | US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available-for-sale | 0 | 0 |
Securities available for sale (amortized cost of $469,313 in 2019 and $443,742 in 2018) | 0 | 0 |
Fair Value, Recurring [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Securities available-for-sale | 193,861 | 146,277 |
Securities available for sale (amortized cost of $469,313 in 2019 and $443,742 in 2018) | 193,861 | 146,277 |
Fair Value, Recurring [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available-for-sale | 0 | 0 |
Securities available for sale (amortized cost of $469,313 in 2019 and $443,742 in 2018) | 0 | 0 |
Fair Value, Recurring [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available-for-sale | 193,861 | 146,277 |
Securities available for sale (amortized cost of $469,313 in 2019 and $443,742 in 2018) | 193,861 | 146,277 |
Fair Value, Recurring [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available-for-sale | 0 | 0 |
Securities available for sale (amortized cost of $469,313 in 2019 and $443,742 in 2018) | 0 | 0 |
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Securities available-for-sale | 17,036 | 29,679 |
Securities available for sale (amortized cost of $469,313 in 2019 and $443,742 in 2018) | 17,036 | 29,679 |
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available-for-sale | 0 | 0 |
Securities available for sale (amortized cost of $469,313 in 2019 and $443,742 in 2018) | 0 | 0 |
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available-for-sale | 17,036 | 29,679 |
Securities available for sale (amortized cost of $469,313 in 2019 and $443,742 in 2018) | 17,036 | 29,679 |
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available-for-sale | 0 | 0 |
Securities available for sale (amortized cost of $469,313 in 2019 and $443,742 in 2018) | $ 0 | $ 0 |
Note 20 - Assets and Liabilit_5
Note 20 - Assets and Liabilities Measured and Reported at Fair Value - Assets Measured at Fair Value on a Non-recurring Basis (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Other real estate owned | $ (7) | $ 102 | $ 39 |
Fair Value, Nonrecurring [Member] | |||
Impaired loans | 7,253 | 925 | |
Impaired loans | (20) | (514) | |
Other real estate owned | 493 | 239 | |
Other real estate owned | (70) | (32) | |
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Impaired loans | 0 | 0 | |
Other real estate owned | 0 | 0 | |
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Impaired loans | 0 | 0 | |
Other real estate owned | 0 | 0 | |
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Impaired loans | 7,253 | 925 | |
Other real estate owned | $ 493 | $ 239 |
Note 20 - Assets and Liabilit_6
Note 20 - Assets and Liabilities Measured and Reported at Fair Value - Significant Unobservable Inputs (Details) - Impaired Loans [Member] - Fair Value, Inputs, Level 3 [Member] - Appraisal Discount Method [Member] $ in Thousands | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) |
Impaired loans - collateral dependent, fair value | $ 7,253 | $ 925 |
Other real estate owned | $ 493 | $ 239 |
Weighted Average [Member] | ||
Impaired loans - collateral dependent, weighted average of input | 0.603 | 0.099 |
Other real estate owned - collateral dependent, weighted average of input | 0.171 | 0.220 |
Note 21 - Disclosure of Finan_3
Note 21 - Disclosure of Financial Instruments Not Reported at Fair Value - Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 | |
Cash and cash equivalents | $ 249,724 | $ 198,939 | |
Accrued interest receivable | 8,534 | 8,360 | |
Non-interest bearing | 810,475 | 711,023 | |
Time deposits | [1] | 432,217 | 346,715 |
Accrued interest payable | 640 | 762 | |
Reported Value Measurement [Member] | |||
Cash and cash equivalents | 249,724 | 198,939 | |
Mortgage loans held for sale | 8,748 | 1,675 | |
Federal Home Loan Bank stock | 11,316 | 10,370 | |
Loans, net | 2,818,225 | 2,522,637 | |
Accrued interest receivable | 8,534 | 8,360 | |
Non-interest bearing | 810,475 | 711,023 | |
Transaction deposits | 1,891,246 | 1,736,618 | |
Time deposits | 432,217 | 346,715 | |
Securities sold under agreement to repurchase | 31,895 | 36,094 | |
Federal funds purchased | 10,887 | 10,247 | |
FHLB advances | 79,953 | 48,177 | |
Accrued interest payable | 640 | 762 | |
Estimate of Fair Value Measurement [Member] | |||
Cash and cash equivalents | 249,724 | 198,939 | |
Mortgage loans held for sale | 8,923 | 1,743 | |
Federal Home Loan Bank stock | 11,316 | 10,370 | |
Loans, net | 2,841,767 | 2,508,587 | |
Accrued interest receivable | 8,534 | 8,360 | |
Non-interest bearing | 810,475 | 711,023 | |
Transaction deposits | 1,891,246 | 1,736,618 | |
Time deposits | 434,927 | 345,273 | |
Securities sold under agreement to repurchase | 31,895 | 36,094 | |
Federal funds purchased | 10,887 | 10,247 | |
FHLB advances | 80,906 | 47,227 | |
Accrued interest payable | 640 | 762 | |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Cash and cash equivalents | 249,724 | 198,939 | |
Mortgage loans held for sale | 0 | 0 | |
Federal Home Loan Bank stock | 0 | 0 | |
Loans, net | 0 | 0 | |
Accrued interest receivable | 8,534 | 8,360 | |
Non-interest bearing | 810,475 | 711,023 | |
Transaction deposits | 0 | 0 | |
Time deposits | 0 | 0 | |
Securities sold under agreement to repurchase | 0 | 0 | |
Federal funds purchased | 0 | 0 | |
FHLB advances | 0 | 0 | |
Accrued interest payable | 640 | 762 | |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Cash and cash equivalents | 0 | 0 | |
Mortgage loans held for sale | 8,923 | 1,743 | |
Federal Home Loan Bank stock | 11,316 | 10,370 | |
Loans, net | 0 | 0 | |
Accrued interest receivable | 0 | 0 | |
Non-interest bearing | 0 | 0 | |
Transaction deposits | 1,891,246 | 1,736,618 | |
Time deposits | 434,927 | 345,273 | |
Securities sold under agreement to repurchase | 31,895 | 36,094 | |
Federal funds purchased | 10,887 | 10,247 | |
FHLB advances | 80,906 | 47,227 | |
Accrued interest payable | 0 | 0 | |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Cash and cash equivalents | 0 | 0 | |
Mortgage loans held for sale | 0 | 0 | |
Federal Home Loan Bank stock | 0 | 0 | |
Loans, net | 2,841,767 | 2,508,587 | |
Accrued interest receivable | 0 | 0 | |
Non-interest bearing | 0 | 0 | |
Transaction deposits | 0 | 0 | |
Time deposits | 0 | 0 | |
Securities sold under agreement to repurchase | 0 | 0 | |
Federal funds purchased | 0 | 0 | |
FHLB advances | 0 | 0 | |
Accrued interest payable | $ 0 | $ 0 | |
[1] | Includes $30 million in brokered deposits as of December 31, 2019 and 2018. |
Note 22 - Derivative Financia_3
Note 22 - Derivative Financial Instruments (Details Textual) - Cash Flow Hedging [Member] - Designated as Hedging Instrument [Member] - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 |
Interest Rate Swap, Maturing December 6, 2020 [Member] | ||
Derivative Liability, Notional Amount | $ 20 | |
Interest Rate Swap, Maturing December 6, 2021 [Member] | ||
Derivative Liability, Notional Amount | $ 10 |
Note 22 - Derivative Financia_4
Note 22 - Derivative Financial Instruments - Outstanding Undesignated Interest Rate Swap Contracts (Details) - Not Designated as Hedging Instrument [Member] - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Receiving [Member] | ||
Notional amount | $ 99,000 | $ 55,505 |
Weighted average maturity (Year) | 8 years 2 months 12 days | 8 years |
Fair value | $ 2,696 | $ 519 |
Paying [Member] | ||
Notional amount | $ 99,000 | $ 55,505 |
Weighted average maturity (Year) | 8 years 2 months 12 days | 8 years |
Fair value | $ 2,767 | $ 543 |
Note 22 - Derivative Financia_5
Note 22 - Derivative Financial Instruments - Derivative Position Designated As a Cash Flow Hedge (Details) - Designated as Hedging Instrument [Member] - Cash Flow Hedging [Member] - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Notional amount | $ 30,000 | |
Pay fixed swap rate | 1.82% | |
Fair value | $ (51) | $ 516 |
Interest Rate Swap, Maturing December 6, 2021 [Member] | ||
Notional amount | $ 10,000 | |
Receive (variable index) | US 3 Month LIBOR | |
Pay fixed swap rate | 1.89% | |
Fair value | $ (45) | 193 |
Interest Rate Swap, Maturing December 6, 2020 [Member] | ||
Notional amount | $ 20,000 | |
Receive (variable index) | US 3 Month LIBOR | |
Pay fixed swap rate | 1.79% | |
Fair value | $ (6) | $ 323 |
Note 23 - Regulatory Matters (D
Note 23 - Regulatory Matters (Details Textual) | Dec. 31, 2019 | Jan. 01, 2019 | Dec. 31, 2018 | Jan. 01, 2018 | Jan. 01, 2017 | Jan. 01, 2016 | |
Capital Conservation Buffer | 2.50% | 1.875% | 1.25% | 0.625% | |||
Subsidiaries [Member] | |||||||
Common Equity Tier One Risk Based Capital, Required to Be Well Capitalized to Risk Weighted Assets | 6.50% | 6.50% | |||||
Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets | [1] | 8.00% | 8.00% | ||||
Capital Required to be Well Capitalized to Risk Weighted Assets | [1] | 10.00% | 10.00% | ||||
Tier One Leverage Capital Required to be Well Capitalized to Average Assets | [2] | 5.00% | 5.00% | ||||
[1] | Ratio is computed in relation to risk-weighted assets. | ||||||
[2] | Ratio is computed in relation to average assets. |
Note 23 - Regulatory Matters -
Note 23 - Regulatory Matters - Risk Based Capital Amounts and Ratios (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 | |
Total risk-based capital, actual amount | [1] | $ 418,460 | $ 396,019 |
Total risk-based capital, actual ratio | [1] | 12.85% | 13.91% |
Total risk-based capital, minimum for adequately capitalized amount | [1] | $ 260,448 | $ 227,714 |
Total risk-based capital, minimum for adequately capitalized ratio | [1] | 8.00% | 8.00% |
Common Equity Tier 1 risk-based capital, actual amount | $ 391,319 | $ 370,135 | |
Common Equity Tier 1 risk-based capital, actual ratio | 12.02% | 13.00% | |
Common Equity Tier 1 risk-based capital, minimum for adequately capitalized amount | $ 146,502 | $ 128,089 | |
Common Equity Tier 1 risk-based capital, minimum for adequately capitalized ratio | 4.50% | 4.50% | |
Tier 1 risk-based capital, actual amount | [1] | $ 391,319 | $ 370,135 |
Tier 1 risk-based capital, actual ratio | [1] | 12.02% | 13.00% |
Tier 1 risk-based capital, minimum for adequately capitalized amount | [1] | $ 195,336 | $ 170,785 |
Tier 1 risk-based capital, minimum for adequately capitalized ratio | [1] | 6.00% | 6.00% |
Leverage, actual amount | [2] | $ 391,319 | $ 370,135 |
Leverage, actual ratio | [2] | 10.60% | 11.33% |
Leverage, minimum for adequately capitalized amount | [2] | $ 147,733 | $ 130,698 |
Leverage, minimum for adequately capitalized ratio | [2] | 4.00% | 4.00% |
Subsidiaries [Member] | |||
Total risk-based capital, actual amount | [1] | $ 396,299 | $ 385,637 |
Total risk-based capital, actual ratio | [1] | 12.20% | 13.56% |
Total risk-based capital, minimum for adequately capitalized amount | [1] | $ 259,823 | $ 227,462 |
Total risk-based capital, minimum for adequately capitalized ratio | [1] | 8.00% | 8.00% |
Total risk-based capital, minimum for well capitalized amount | [1] | $ 324,778 | $ 284,327 |
Total risk-based capital, minimum for well capitalized ratio | [1] | 10.00% | 10.00% |
Common Equity Tier 1 risk-based capital, actual amount | $ 369,158 | $ 359,753 | |
Common Equity Tier 1 risk-based capital, actual ratio | 11.37% | 12.65% | |
Common Equity Tier 1 risk-based capital, minimum for adequately capitalized amount | $ 146,150 | $ 127,947 | |
Common Equity Tier 1 risk-based capital, minimum for adequately capitalized ratio | 4.50% | 4.50% | |
Common Equity Tier 1 risk-based capital, minimum for well capitalized amount | $ 211,106 | $ 184,813 | |
Common Equity Tier 1 risk-based capital, minimum for well capitalized ratio | 6.50% | 6.50% | |
Tier 1 risk-based capital, actual amount | [1] | $ 369,158 | $ 359,753 |
Tier 1 risk-based capital, actual ratio | [1] | 11.37% | 12.65% |
Tier 1 risk-based capital, minimum for adequately capitalized amount | [1] | $ 194,867 | $ 170,596 |
Tier 1 risk-based capital, minimum for adequately capitalized ratio | [1] | 6.00% | 6.00% |
Tier 1 risk-based capital, minimum for well capitalized amount | [1] | $ 259,823 | $ 227,462 |
Tier 1 risk-based capital, minimum for well capitalized ratio | [1] | 8.00% | 8.00% |
Leverage, actual amount | [2] | $ 369,158 | $ 359,753 |
Leverage, actual ratio | [2] | 10.67% | 11.02% |
Leverage, minimum for adequately capitalized amount | [2] | $ 138,392 | $ 130,569 |
Leverage, minimum for adequately capitalized ratio | [2] | 4.00% | 4.00% |
Leverage, minimum for well capitalized amount | [2] | $ 172,990 | $ 163,211 |
Leverage, minimum for well capitalized ratio | [2] | 5.00% | 5.00% |
[1] | Ratio is computed in relation to risk-weighted assets. | ||
[2] | Ratio is computed in relation to average assets. |
Note 24 - Stock Yards Bancorp_3
Note 24 - Stock Yards Bancorp, Inc. (Parent Company Only) - Condensed Balance Sheets (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Assets | ||||
Cash on deposit with subsidiary bank | $ 46,863 | $ 51,892 | ||
Other assets | 50,939 | 45,172 | ||
Total assets | 3,724,197 | 3,302,924 | $ 3,239,646 | |
Liabilities and stockholders' equity | ||||
Other liabilities | 60,587 | 46,788 | ||
Stockholders' Equity Attributable to Parent, Ending Balance | 406,297 | 366,500 | $ 333,644 | $ 313,872 |
Total liabilities and stockholders’ equity | 3,724,197 | 3,302,924 | ||
Parent Company [Member] | ||||
Assets | ||||
Cash on deposit with subsidiary bank | 14,714 | 7,655 | ||
Investment in and receivable from subsidiaries | 384,136 | 356,118 | ||
Other assets | 7,821 | 3,147 | ||
Total assets | 406,671 | 366,920 | ||
Liabilities and stockholders' equity | ||||
Other liabilities | 374 | 420 | ||
Stockholders' Equity Attributable to Parent, Ending Balance | 406,297 | 366,500 | ||
Total liabilities and stockholders’ equity | $ 406,671 | $ 366,920 |
Note 24 - Stock Yards Bancorp_4
Note 24 - Stock Yards Bancorp, Inc. (Parent Company Only) - Condensed Statements of Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Income before income taxes and equity in undistributed net income of subsidiary | $ 19,590 | $ 21,017 | $ 17,573 | $ 17,480 | $ 16,923 | $ 17,431 | $ 16,738 | $ 16,456 | $ 10,488 | $ 15,800 | $ 14,961 | $ 13,933 | $ 75,660 | $ 67,548 | $ 55,182 |
Income tax benefit | 2,941 | 3,783 | 1,030 | 1,839 | 2,265 | 3,555 | 3,159 | 3,052 | 5,542 | 4,096 | 4,359 | 3,142 | 9,593 | 12,031 | 17,139 |
Net income | $ 16,649 | $ 17,234 | $ 16,543 | $ 15,641 | $ 14,658 | $ 13,876 | $ 13,579 | $ 13,404 | $ 4,946 | $ 11,704 | $ 10,602 | $ 10,791 | 66,067 | 55,517 | 38,043 |
Comprehensive Income | 71,886 | 52,811 | 37,612 | ||||||||||||
Parent Company [Member] | |||||||||||||||
Income - dividends and interest from subsidiaries | 72,119 | 21,403 | 18,160 | ||||||||||||
Other income | 2 | 12 | 82 | ||||||||||||
Less expenses | 4,935 | 4,818 | 3,255 | ||||||||||||
Income before income taxes and equity in undistributed net income of subsidiary | 67,186 | 16,597 | 14,987 | ||||||||||||
Income tax benefit | (4,683) | (1,713) | (1,985) | ||||||||||||
Income before equity in undistributed net income of subsidiary | 71,869 | 18,310 | 16,972 | ||||||||||||
Equity in undistributed net income of subsidiary | (5,802) | 37,207 | 21,071 | ||||||||||||
Net income | 66,067 | 55,517 | 38,043 | ||||||||||||
Comprehensive Income | $ 71,886 | $ 52,811 | $ 37,612 |
Note 24 - Stock Yards Bancorp_5
Note 24 - Stock Yards Bancorp, Inc. (Parent Company Only) - Condensed Statements of Cash Flows (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Operating activities: | |||||||||||||||
Net income | $ 16,649 | $ 17,234 | $ 16,543 | $ 15,641 | $ 14,658 | $ 13,876 | $ 13,579 | $ 13,404 | $ 4,946 | $ 11,704 | $ 10,602 | $ 10,791 | $ 66,067 | $ 55,517 | $ 38,043 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||||||
Loss on the disposal of premises and equipment | 372 | 56 | 0 | ||||||||||||
Stock compensation expense | 3,578 | 4,027 | 2,892 | ||||||||||||
Excess tax benefits from stock- based compensation arrangements | (812) | (549) | (1,463) | ||||||||||||
Depreciation, amortization and accretion, net | 4,880 | 5,782 | 13,640 | ||||||||||||
Proceeds from liquidation of private investment fund | 0 | (113) | (92) | ||||||||||||
Net cash provided by operating activities | 58,436 | 65,889 | 53,676 | ||||||||||||
Investing activities: | |||||||||||||||
Proceeds from sale of fixed assets | 2,907 | 230 | 0 | ||||||||||||
Cash for acquisition, net of cash acquired | (24,686) | 0 | 0 | ||||||||||||
Net cash provided by (used in) investing activities | (163,173) | (11,570) | (114,705) | ||||||||||||
Financing activities: | |||||||||||||||
Repurchase of common stock | (11,817) | (2,004) | (2,389) | ||||||||||||
Share repurchases related to compensation plans | (272) | (154) | (216) | ||||||||||||
Cash dividends paid | (23,542) | (21,766) | (18,077) | ||||||||||||
Net cash used in financing activities | 155,522 | 5,372 | 152,304 | ||||||||||||
Net increase (decrease) in cash | 50,785 | 59,691 | 91,275 | ||||||||||||
Cash and cash equivalents at beginning of period | 198,939 | 139,248 | 47,973 | 198,939 | 139,248 | 47,973 | |||||||||
Cash and cash equivalents at end of period | 249,724 | 198,939 | 139,248 | 249,724 | 198,939 | 139,248 | |||||||||
Parent Company [Member] | |||||||||||||||
Operating activities: | |||||||||||||||
Net income | 66,067 | 55,517 | 38,043 | ||||||||||||
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||||||
Equity in undistributed net income of subsidiaries | 5,802 | (37,207) | (21,071) | ||||||||||||
Loss on the disposal of premises and equipment | 0 | (10) | 0 | ||||||||||||
Stock compensation expense | 3,578 | 4,027 | 2,892 | ||||||||||||
Excess tax benefits from stock- based compensation arrangements | (812) | (549) | (1,463) | ||||||||||||
Depreciation, amortization and accretion, net | 0 | 0 | 4 | ||||||||||||
Proceeds from liquidation of private investment fund | 0 | 0 | (81) | ||||||||||||
Change in other assets | (3,863) | (1,080) | 5,943 | ||||||||||||
Change in other liabilities | (81) | 220 | 10 | ||||||||||||
Net cash provided by operating activities | 70,691 | 20,918 | 24,277 | ||||||||||||
Investing activities: | |||||||||||||||
Proceeds from sale of fixed assets | 0 | 13 | 0 | ||||||||||||
Cash for acquisition, net of cash acquired | (28,000) | 0 | 0 | ||||||||||||
Proceeds from liquidation of private investment fund | 0 | 0 | 81 | ||||||||||||
Net cash provided by (used in) investing activities | (28,000) | 13 | 81 | ||||||||||||
Financing activities: | |||||||||||||||
Repurchase of common stock | (11,817) | (2,004) | (2,389) | ||||||||||||
Share repurchases related to compensation plans | (272) | (154) | (216) | ||||||||||||
Cash dividends paid | (23,543) | (21,766) | (18,077) | ||||||||||||
Net cash used in financing activities | (35,632) | (23,924) | (20,682) | ||||||||||||
Net increase (decrease) in cash | 7,059 | (2,993) | 3,676 | ||||||||||||
Cash and cash equivalents at beginning of period | $ 7,655 | $ 10,648 | $ 6,972 | 7,655 | 10,648 | 6,972 | |||||||||
Cash and cash equivalents at end of period | $ 14,714 | $ 7,655 | $ 10,648 | $ 14,714 | $ 7,655 | $ 10,648 |
Note 25 - Segments (Details Tex
Note 25 - Segments (Details Textual) - USD ($) | Dec. 31, 2019 | May 01, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 1996 |
Goodwill, Ending Balance | $ 12,513,000 | $ 682,000 | $ 682,000 | ||
King Bancorp Inc. [Member] | |||||
Goodwill, Ending Balance | 12,000,000 | $ 11,831,000 | |||
Commercial Banking [Member] | Indiana Bank [Member] | |||||
Goodwill, Ending Balance | $ 682,000 | ||||
Commercial Banking [Member] | Operating Segments [Member] | |||||
Goodwill, Ending Balance | $ 12,500,000 | ||||
Commercial Banking [Member] | Operating Segments [Member] | Indiana Bank [Member] | |||||
Goodwill, Ending Balance | $ 682,000 | ||||
Commercial Banking [Member] | Operating Segments [Member] | King Bancorp Inc. [Member] | |||||
Goodwill, Ending Balance | $ 11,800,000 |
Note 25 - Segments - Financial
Note 25 - Segments - Financial Information by Business Segment (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Net interest income | $ 32,720 | $ 32,070 | $ 30,774 | $ 29,657 | $ 29,912 | $ 28,521 | $ 28,674 | $ 27,309 | $ 27,029 | $ 26,173 | $ 25,245 | $ 25,206 | $ 125,221 | $ 114,416 | $ 103,653 |
Provision for loan and leases | 0 | 400 | 0 | 600 | 0 | 735 | 1,235 | 735 | 900 | 150 | 600 | 900 | 1,000 | 2,705 | 2,550 |
Non-interest income | 22,643 | 21,536 | 20,505 | ||||||||||||
All other non-interest income | 27,147 | 23,810 | 23,994 | ||||||||||||
Non-interest expenses | 26,291 | 23,957 | 25,464 | 22,639 | 24,565 | 21,781 | 22,136 | 21,027 | 27,048 | 21,168 | 21,209 | 20,995 | 98,351 | 89,509 | 90,420 |
Income before income tax expense | 19,590 | 21,017 | 17,573 | 17,480 | 16,923 | 17,431 | 16,738 | 16,456 | 10,488 | 15,800 | 14,961 | 13,933 | 75,660 | 67,548 | 55,182 |
Income tax expense | 2,941 | 3,783 | 1,030 | 1,839 | 2,265 | 3,555 | 3,159 | 3,052 | 5,542 | 4,096 | 4,359 | 3,142 | 9,593 | 12,031 | 17,139 |
Net income | 16,649 | $ 17,234 | $ 16,543 | $ 15,641 | 14,658 | $ 13,876 | $ 13,579 | $ 13,404 | 4,946 | $ 11,704 | $ 10,602 | $ 10,791 | 66,067 | 55,517 | 38,043 |
Total assets | 3,724,197 | 3,302,924 | 3,239,646 | 3,724,197 | 3,302,924 | 3,239,646 | |||||||||
Commercial Banking [Member] | |||||||||||||||
Net interest income | 124,902 | 114,161 | 103,352 | ||||||||||||
Provision for loan and leases | 1,000 | 2,705 | 2,550 | ||||||||||||
Non-interest income | 0 | 0 | 0 | ||||||||||||
All other non-interest income | 27,147 | 23,810 | 23,994 | ||||||||||||
Non-interest expenses | 85,642 | 76,963 | 78,181 | ||||||||||||
Income before income tax expense | 65,407 | 58,303 | 46,615 | ||||||||||||
Income tax expense | 7,368 | 10,025 | 14,080 | ||||||||||||
Net income | 58,039 | 48,278 | 32,535 | ||||||||||||
Total assets | 3,720,502 | 3,299,169 | 3,237,656 | 3,720,502 | 3,299,169 | 3,237,656 | |||||||||
Investment Management and Trust [Member] | |||||||||||||||
Net interest income | 319 | 255 | 301 | ||||||||||||
Provision for loan and leases | 0 | 0 | 0 | ||||||||||||
Non-interest income | 22,643 | 21,536 | 20,505 | ||||||||||||
All other non-interest income | 0 | 0 | 0 | ||||||||||||
Non-interest expenses | 12,709 | 12,546 | 12,239 | ||||||||||||
Income before income tax expense | 10,253 | 9,245 | 8,567 | ||||||||||||
Income tax expense | 2,225 | 2,006 | 3,059 | ||||||||||||
Net income | 8,028 | 7,239 | 5,508 | ||||||||||||
Total assets | $ 3,695 | $ 3,755 | $ 1,990 | $ 3,695 | $ 3,755 | $ 1,990 |
Note 26 - Quarterly Operating_3
Note 26 - Quarterly Operating Results (Unaudited) - Quarterly Operating Results (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Interest income | $ 37,795 | $ 37,973 | $ 36,968 | $ 35,029 | $ 35,004 | $ 33,021 | $ 32,004 | $ 29,744 | $ 29,098 | $ 28,120 | $ 27,026 | $ 26,655 | $ 147,765 | $ 129,773 | $ 110,899 |
Interest expense | 5,075 | 5,903 | 6,194 | 5,372 | 5,092 | 4,500 | 3,330 | 2,435 | 2,069 | 1,947 | 1,781 | 1,449 | 22,544 | 15,357 | 7,246 |
Net interest income | 32,720 | 32,070 | 30,774 | 29,657 | 29,912 | 28,521 | 28,674 | 27,309 | 27,029 | 26,173 | 25,245 | 25,206 | 125,221 | 114,416 | 103,653 |
Provision for loan and lease losses | 0 | 400 | 0 | 600 | 0 | 735 | 1,235 | 735 | 900 | 150 | 600 | 900 | 1,000 | 2,705 | 2,550 |
Net interest income after provision | 32,720 | 31,670 | 30,774 | 29,057 | 29,912 | 27,786 | 27,439 | 26,574 | 26,129 | 26,023 | 24,645 | 24,306 | 124,221 | 111,711 | 101,103 |
Non-interest income | 13,161 | 13,304 | 12,263 | 11,062 | 11,576 | 11,426 | 11,435 | 10,909 | 11,407 | 10,945 | 11,525 | 10,622 | 49,790 | 45,346 | 44,499 |
Non-interest expenses | 26,291 | 23,957 | 25,464 | 22,639 | 24,565 | 21,781 | 22,136 | 21,027 | 27,048 | 21,168 | 21,209 | 20,995 | 98,351 | 89,509 | 90,420 |
Income before income taxes and equity in undistributed net income of subsidiary | 19,590 | 21,017 | 17,573 | 17,480 | 16,923 | 17,431 | 16,738 | 16,456 | 10,488 | 15,800 | 14,961 | 13,933 | 75,660 | 67,548 | 55,182 |
Income tax benefit | 2,941 | 3,783 | 1,030 | 1,839 | 2,265 | 3,555 | 3,159 | 3,052 | 5,542 | 4,096 | 4,359 | 3,142 | 9,593 | 12,031 | 17,139 |
Net income | $ 16,649 | $ 17,234 | $ 16,543 | $ 15,641 | $ 14,658 | $ 13,876 | $ 13,579 | $ 13,404 | $ 4,946 | $ 11,704 | $ 10,602 | $ 10,791 | $ 66,067 | $ 55,517 | $ 38,043 |
Basic earnings per share (in dollars per share) | $ 0.74 | $ 0.76 | $ 0.73 | $ 0.69 | $ 0.65 | $ 0.61 | $ 0.60 | $ 0.59 | $ 0.22 | $ 0.52 | $ 0.47 | $ 0.48 | $ 2.92 | $ 2.45 | $ 1.69 |
Diluted earnings per share (in dollars per share) | $ 0.73 | $ 0.76 | $ 0.72 | $ 0.68 | $ 0.64 | $ 0.60 | $ 0.59 | $ 0.58 | $ 0.22 | $ 0.51 | $ 0.46 | $ 0.47 | $ 2.89 | $ 2.42 | $ 1.66 |
Note 27 - Revenue From Contra_3
Note 27 - Revenue From Contracts With Customers (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Trading Activity Charges Reducing Product Sales Commissions and Fees | $ 516,000 | $ 544,000 |
Contract with Customer, Asset, after Allowance for Credit Loss, Total | 0 | |
Contract with Customer, Liability, Total | 0 | |
Fiduciary and Trust [Member] | ||
Accrued Fees and Other Revenue Receivable | $ 2,100,000 | $ 1,900,000 |
Note 27 - Revenue From Contra_4
Note 27 - Revenue From Contracts With Customers - Revenue by Operating Segment (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
Non-interest income | $ 22,643 | $ 21,536 | $ 20,505 | |||||||||||||
Mortgage banking income | [1] | 3,090 | 2,568 | 3,221 | ||||||||||||
Bank owned life insurance | [1] | 1,031 | 1,129 | 1,159 | ||||||||||||
Other | [2] | 2,900 | 1,337 | 1,769 | ||||||||||||
Non-interest income | $ 13,161 | $ 13,304 | $ 12,263 | $ 11,062 | $ 11,576 | $ 11,426 | $ 11,435 | $ 10,909 | $ 11,407 | $ 10,945 | $ 11,525 | $ 10,622 | 49,790 | 45,346 | 44,499 | |
Loss on sale of securities | 0 | 0 | (232) | |||||||||||||
Commercial Banking [Member] | ||||||||||||||||
Non-interest income | 0 | 0 | 0 | |||||||||||||
Mortgage banking income | [1] | 3,090 | 2,568 | 3,221 | ||||||||||||
Bank owned life insurance | [1] | 1,031 | 1,129 | 1,159 | ||||||||||||
Other | [2] | 2,900 | 1,337 | 1,769 | ||||||||||||
Non-interest income | 27,147 | 23,810 | 23,994 | |||||||||||||
Loss on sale of securities | (232) | |||||||||||||||
WM&T [Member] | ||||||||||||||||
Mortgage banking income | [1] | 0 | 0 | 0 | ||||||||||||
Bank owned life insurance | [1] | 0 | 0 | 0 | ||||||||||||
Other | [2] | 0 | 0 | 0 | ||||||||||||
Non-interest income | 22,643 | 21,536 | 20,505 | |||||||||||||
Loss on sale of securities | 0 | |||||||||||||||
Fiduciary and Trust [Member] | ||||||||||||||||
Non-interest income | 22,643 | 21,536 | 20,505 | |||||||||||||
Fiduciary and Trust [Member] | Commercial Banking [Member] | ||||||||||||||||
Non-interest income | 0 | 0 | 0 | |||||||||||||
Fiduciary and Trust [Member] | WM&T [Member] | ||||||||||||||||
Non-interest income | 22,643 | 21,536 | 20,505 | |||||||||||||
Deposit Account [Member] | ||||||||||||||||
Non-interest income | 5,513 | 5,759 | 6,172 | |||||||||||||
Deposit Account [Member] | Commercial Banking [Member] | ||||||||||||||||
Non-interest income | 5,513 | 5,759 | 6,172 | |||||||||||||
Deposit Account [Member] | WM&T [Member] | ||||||||||||||||
Non-interest income | 0 | 0 | 0 | |||||||||||||
Credit and Debit Card [Member] | ||||||||||||||||
Non-interest income | 8,123 | 6,769 | 5,979 | |||||||||||||
Credit and Debit Card [Member] | Commercial Banking [Member] | ||||||||||||||||
Non-interest income | 8,123 | 6,769 | 5,979 | |||||||||||||
Credit and Debit Card [Member] | WM&T [Member] | ||||||||||||||||
Non-interest income | 0 | 0 | 0 | |||||||||||||
Treasury Management [Member] | ||||||||||||||||
Non-interest income | 4,992 | 4,571 | 4,297 | |||||||||||||
Treasury Management [Member] | Commercial Banking [Member] | ||||||||||||||||
Non-interest income | 4,992 | 4,571 | 4,297 | |||||||||||||
Treasury Management [Member] | WM&T [Member] | ||||||||||||||||
Non-interest income | 0 | 0 | 0 | |||||||||||||
Product Sales Commissions and Fees [Member] | ||||||||||||||||
Non-interest income | 1,498 | 1,677 | 1,629 | |||||||||||||
Product Sales Commissions and Fees [Member] | Commercial Banking [Member] | ||||||||||||||||
Non-interest income | 1,498 | 1,677 | 1,629 | |||||||||||||
Product Sales Commissions and Fees [Member] | WM&T [Member] | ||||||||||||||||
Non-interest income | $ 0 | $ 0 | $ 0 | |||||||||||||
[1] | Outside of the scope of ASC 606 | |||||||||||||||
[2] | Outside of the scope of ASC 606, with the exception of safe deposit fees which were nominal for all periods. |