Document and Entity Information
Document and Entity Information Document - shares | 3 Months Ended | |
Mar. 31, 2021 | Apr. 30, 2021 | |
Document and Entity Information [Abstract] | ||
Title of 12(b) Security | Common Stock, par value $.01 per share | |
Trading Symbol | BANR | |
Security Exchange Name | NASDAQ | |
Entity Registrant Name | BANNER CORPORATION | |
Entity Incorporation, State or Country Code | WA | |
Entity Tax Identification Number | 91-1691604 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Mar. 31, 2021 | |
Document Transition Report | false | |
Entity File Number | 000-26584 | |
Amendment Flag | false | |
Entity Central Index Key | 0000946673 | |
Current Fiscal Year End Date | --12-31 | |
Entity Common Stock, Shares Outstanding | 34,797,764 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Shell Company | false | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Document Fiscal Year Focus | 2021 | |
Document Fiscal Period Focus | Q1 | |
Entity Address, Address Line One | 10 South First Avenue | |
Entity Address, City or Town | Walla Walla | |
Entity Address, State or Province | WA | |
Entity Address, Postal Zip Code | 99362 | |
City Area Code | 509 | |
Local Phone Number | 527-3636 |
CONSOLIDATED STATEMENTS OF FINA
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 | |
ASSETS | |||
Cash and due from banks | $ 296,184 | $ 311,899 | |
Interest bearing deposits | 1,353,743 | 922,284 | |
Total cash and cash equivalents | 1,649,927 | 1,234,183 | |
Securities—trading | 25,039 | 24,980 | |
Securities—available-for-sale, amortized cost $2,996,902 and $2,256,189, respectively | 2,989,760 | 2,322,593 | |
Securities—held-to-maturity, net of allowance for credit losses of $98 and $94, respectively, fair value $459,595 and $448,681, respectively | 441,857 | 421,713 | |
Total securities | 3,456,656 | 2,769,286 | |
Federal Home Loan Bank (FHLB) stock | 14,001 | 16,358 | |
Loans held for sale (includes $60.0 million and $133.6 million, at fair value, respectively) | 135,263 | 243,795 | |
Loans receivable | 9,947,697 | 9,870,982 | |
Allowance for credit losses - loans | 156,054 | 167,279 | |
Net loans receivable | 9,791,643 | 9,703,703 | |
Accrued interest receivable | 49,214 | 46,617 | |
Real estate owned (REO), held for sale, net | 340 | 816 | |
Property and equipment, net | 161,268 | 164,556 | |
Goodwill | 373,121 | 373,121 | |
Other intangibles, net | 19,715 | 21,426 | |
Bank-owned life insurance (BOLI) | 191,388 | 191,830 | |
Deferred tax assets, net | 83,178 | 65,742 | |
Operating lease right-of-use assets | 56,217 | 55,367 | |
Other assets | 137,861 | 144,823 | |
Total assets | 16,119,792 | 15,031,623 | |
Deposits: | |||
Non-interest-bearing | 5,994,693 | 5,492,924 | |
Interest-bearing transaction and savings accounts | 6,647,196 | 6,159,052 | |
Interest-bearing certificates | [1] | 906,978 | 915,320 |
Total deposits | 13,548,867 | 12,567,296 | |
Advances from FHLB | 100,000 | 150,000 | |
Other borrowings | 216,260 | 184,785 | |
Subordinated notes, net | 98,290 | 98,201 | |
Junior subordinated debentures at fair value (issued in connection with Trust Preferred Securities) | 117,248 | 116,974 | |
Operating lease liabilities | 59,884 | 59,343 | |
Accrued expenses and other liabilities | 313,801 | 143,300 | |
Deferred compensation | 46,625 | 45,460 | |
Total liabilities | 14,500,975 | 13,365,359 | |
COMMITMENTS AND CONTINGENCIES (Note 12) | |||
SHAREHOLDERS’ EQUITY | |||
Preferred stock - $0.01 par value per share, 500,000 shares authorized; no shares outstanding at March 31, 2021 and December 31, 2020 | 0 | 0 | |
Retained earnings | 279,582 | 247,316 | |
Carrying value of shares held in trust for stock-based compensation plans | (7,614) | (7,636) | |
Liability for common stock issued to stock related compensation plans | 7,614 | 7,636 | |
Accumulated other comprehensive income | 12,966 | 69,069 | |
Total shareholders’ equity | 1,618,817 | 1,666,264 | |
Total liabilities and shareholders’ equity | 16,119,792 | 15,031,623 | |
Voting Common Stock [Member] | |||
SHAREHOLDERS’ EQUITY | |||
Common stock and paid in capital | 1,326,269 | 1,349,879 | |
Nonvoting Common Stock [Member] | |||
SHAREHOLDERS’ EQUITY | |||
Common stock and paid in capital | $ 0 | $ 0 | |
[1] | Certificates of deposit include $34,000 and $58,000 of acquisition premiums at March 31, 2021 and December 31, 2020, respectively. |
CONSOLIDATED STATEMENTS OF FI_2
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Parenthetical) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
ASSETS | ||
Securities—trading, amortized cost basis | $ 27,203 | $ 27,203 |
Securities—available-for-sale, amortized cost basis | 2,996,902 | 2,256,189 |
Allowance for Credit Losses | (98) | 94 |
Securities—held-to-maturity, fair value | $ 459,595 | $ 448,681 |
SHAREHOLDERS’ EQUITY | ||
Preferred Stock, Par or Stated Value Per Share | $ 0.01 | $ 0.01 |
Preferred Stock, Shares Authorized | 500,000 | 500,000 |
Preferred Stock, Shares Outstanding | 0 | 0 |
Securities—trading | $ 25,039 | $ 24,980 |
Securities—available-for-sale | 2,989,760 | 2,322,593 |
Securities—held-to-maturity, net of allowance for credit losses of $98 and $94, respectively, fair value $459,595 and $448,681, respectively | $ 441,857 | $ 421,713 |
Voting Common Stock [Member] | ||
SHAREHOLDERS’ EQUITY | ||
Common Stock, Par or Stated Value Per Share | $ 0.01 | $ 0.01 |
Common Stock, Shares Authorized | 50,000,000 | 50,000,000 |
Common Stock, Shares, Issued | 34,735,343 | 35,159,200 |
Common Stock, Shares, Outstanding | 34,735,343 | 35,159,200 |
Nonvoting Common Stock [Member] | ||
SHAREHOLDERS’ EQUITY | ||
Common Stock, Par or Stated Value Per Share | $ 0.01 | $ 0.01 |
Common Stock, Shares Authorized | 5,000,000 | 5,000,000 |
Common Stock, Shares, Issued | 0 | 0 |
Common Stock, Shares, Outstanding | 0 | 0 |
Recurring [Member] | ||
SHAREHOLDERS’ EQUITY | ||
Securities—available-for-sale | $ 2,989,760 | $ 2,322,593 |
Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
SHAREHOLDERS’ EQUITY | ||
Securities—available-for-sale | 2,989,760 | 2,322,593 |
Loans [Member] | Recurring [Member] | ||
ASSETS | ||
Loans Held-for-sale, Fair Value Disclosure | 59,993 | 133,554 |
Loans [Member] | Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
ASSETS | ||
Loans Held-for-sale, Fair Value Disclosure | $ 59,993 | $ 133,554 |
CONSOLIDATED STATEMENTS OF OPER
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
INTEREST INCOME: | ||
Loans receivable | $ 108,924 | $ 118,926 |
Mortgage-backed securities | 9,371 | 9,137 |
Securities and cash equivalents | 6,226 | 3,602 |
Total interest income | 124,521 | 131,665 |
INTEREST EXPENSE: | ||
Deposits | 3,609 | 8,750 |
FHLB advances | 934 | 2,064 |
Other borrowings | 109 | 116 |
Subordinated debt | 2,208 | 1,477 |
Total interest expense | 6,860 | 12,407 |
Net interest income | 117,661 | 119,258 |
(RECAPTURE)/PROVISION FOR CREDIT LOSSES | (9,251) | 23,470 |
Net interest income after (recapture)/provision for credit losses | 126,912 | 95,788 |
NON-INTEREST INCOME: | ||
Deposit fees and other service charges | 8,939 | 9,803 |
Mortgage banking operations | 11,440 | 10,191 |
Bank-owned life insurance (BOLI) | 1,307 | 1,050 |
Miscellaneous | 2,042 | 2,639 |
Other operating income | 23,728 | 23,683 |
Net gain on sale of securities | 485 | 78 |
Net change in valuation of financial instruments carried at fair value | 59 | (4,596) |
Total non-interest income | 24,272 | 19,165 |
NON-INTEREST EXPENSE: | ||
Salary and employee benefits | 64,819 | 59,908 |
Less capitalized loan origination costs | (9,696) | (5,806) |
Occupancy and equipment | 12,989 | 13,107 |
Information/computer data services | 6,203 | 5,810 |
Payment and card processing expenses | 4,326 | 4,240 |
Professional and legal expenses | 3,328 | 1,919 |
Advertising and marketing | 1,263 | 1,827 |
Deposit insurance expense | 1,533 | 1,635 |
State/municipal business and use taxes | 1,065 | 984 |
REO operations, net | (242) | 100 |
Amortization of core deposit intangibles | 1,711 | 2,001 |
Miscellaneous | 5,509 | 6,357 |
Noninterest Operating Expense, Before COVID-19 and Acquisition Related Costs | 92,808 | 92,082 |
COVID-19 Expenses | 148 | 239 |
Acquisition-related costs | 571 | 1,142 |
Total non-interest expense | 93,527 | 93,463 |
Income before provision for income taxes | 57,657 | 21,490 |
PROVISION FOR INCOME TAXES | 10,802 | 4,608 |
NET INCOME | $ 46,855 | $ 16,882 |
Earnings per common share: | ||
Basic | $ 1.34 | $ 0.48 |
Diluted | 1.33 | 0.47 |
Cumulative dividends declared per common share | $ 0.41 | $ 0.41 |
Weighted average number of common shares outstanding, Basic | 34,973,383 | 35,463,541 |
Weighted average number of common shares outstanding, Diluted | 35,303,483 | 35,640,463 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Statement of Comprehensive Income [Abstract] | ||
NET INCOME | $ 46,855 | $ 16,882 |
OTHER COMPREHENSIVE INCOME, NET OF INCOME TAXES: | ||
Unrealized holding (loss) gain on available-for-sale securities arising during the period | (73,107) | 42,178 |
Income tax benefit (expense) related to available-for-sale securities unrealized holding (loss) gain | 17,546 | (10,123) |
Reclassification for net gain on available-for-sale securities realized in earnings | (439) | (78) |
Income tax expense related to available-for-sale securities realized in earnings | 105 | 19 |
Changes in fair value of junior subordinated debentures related to instrument specific credit risk | (274) | 19,509 |
Income tax benefit (expense) related to junior subordinated debentures | 66 | (4,682) |
Other comprehensive (loss) income | (56,103) | 46,823 |
COMPREHENSIVE (LOSS) INCOME | $ (9,248) | $ 63,705 |
CONSOLIDATED STATEMENTS OF CHAN
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Thousands | Total | Common Stock [Member] | Common Stock and Paid in Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] |
Balance, beginning of the period at Dec. 31, 2019 | $ 1,594,034 | $ 1,373,940 | $ 186,838 | $ 33,256 | |
Balance, beginning of the period (in shares) at Dec. 31, 2019 | 35,751,576 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
New credit standard (ASC 326) - impact in year of adoption | 11,215 | 11,215 | |||
Net income | 16,882 | 16,882 | |||
Other comprehensive income, net of income tax | 46,823 | 46,823 | |||
Accrual of dividends on common stock | (14,583) | (14,583) | |||
Amortization of stock-based compensation related to restricted stock grants, net of shares surrendered | 1,534 | 1,534 | |||
Amortization of stock-based compensation related to restricted stock grants, net of shares surrendered (in shares) | (24,337) | ||||
Repurchase of common stock | (31,775) | (31,775) | |||
Repurchase of common stock (in shares) | (624,780) | ||||
Balance, end of the period at Mar. 31, 2020 | $ 1,601,700 | 1,343,699 | 177,922 | 80,079 | |
Balance, end of the period (in shares) at Mar. 31, 2020 | 35,102,459 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Cumulative dividends declared per common share | $ 0.41 | ||||
Net income | $ 23,541 | 23,541 | |||
Other comprehensive income, net of income tax | (1,520) | (1,520) | |||
Accrual of dividends on common stock | (15) | (15) | |||
Amortization of stock-based compensation related to restricted stock grants, net of shares surrendered | 1,397 | 1,397 | |||
Amortization of stock-based compensation related to restricted stock grants, net of shares surrendered (in shares) | 55,440 | ||||
Balance, end of the period at Jun. 30, 2020 | 1,625,103 | 1,345,096 | 201,448 | 78,559 | |
Balance, end of the period (in shares) at Jun. 30, 2020 | 35,157,899 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Net income | 36,548 | 36,548 | |||
Other comprehensive income, net of income tax | (2,601) | (2,601) | |||
Accrual of dividends on common stock | (15,037) | (15,037) | |||
Amortization of stock-based compensation related to restricted stock grants, net of shares surrendered | 2,516 | 2,516 | |||
Amortization of stock-based compensation related to restricted stock grants, net of shares surrendered (in shares) | 669 | ||||
Balance, end of the period at Sep. 30, 2020 | $ 1,646,529 | 1,347,612 | 222,959 | 75,958 | |
Balance, end of the period (in shares) at Sep. 30, 2020 | 35,158,568 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Cumulative dividends declared per common share | $ 0.41 | ||||
Net income | $ 38,957 | 38,957 | |||
Other comprehensive income, net of income tax | (6,889) | (6,889) | |||
Accrual of dividends on common stock | (14,600) | (14,600) | |||
Amortization of stock-based compensation related to restricted stock grants, net of shares surrendered | 2,267 | 2,267 | |||
Amortization of stock-based compensation related to restricted stock grants, net of shares surrendered (in shares) | 632 | ||||
Balance, end of the period at Dec. 31, 2020 | $ 1,666,264 | 1,349,879 | 247,316 | 69,069 | |
Balance, end of the period (in shares) at Dec. 31, 2020 | 35,159,200 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Cumulative dividends declared per common share | $ 0.41 | ||||
Net income | $ 46,855 | 46,855 | |||
Other comprehensive income, net of income tax | (56,103) | (56,103) | |||
Accrual of dividends on common stock | (14,589) | (14,589) | |||
Amortization of stock-based compensation related to restricted stock grants, net of shares surrendered | 1,714 | 1,714 | |||
Amortization of stock-based compensation related to restricted stock grants, net of shares surrendered (in shares) | 76,143 | ||||
Repurchase of common stock | (25,324) | (25,324) | |||
Repurchase of common stock (in shares) | (500,000) | ||||
Balance, end of the period at Mar. 31, 2021 | $ 1,618,817 | $ 1,326,269 | $ 279,582 | $ 12,966 | |
Balance, end of the period (in shares) at Mar. 31, 2021 | 34,735,343 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Cumulative dividends declared per common share | $ 0.41 |
CONSOLIDATED STATEMENTS OF CH_2
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | |||||
Mar. 31, 2021 | Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | |
Statement of Stockholders' Equity [Abstract] | ||||||
Cumulative dividends declared per common share | $ 0.41 | $ 0.41 | $ 0.41 | $ 0.41 | ||
New credit standard (ASC 326) - impact in year of adoption | $ (11,215) | |||||
NET INCOME | $ 46,855 | $ 38,957 | $ 36,548 | $ 23,541 | 16,882 | |
Other comprehensive income, net of income tax | (56,103) | (6,889) | (2,601) | (1,520) | 46,823 | |
Accrual of dividends on common stock | (14,589) | (14,600) | (15,037) | (15) | (14,583) | |
Amortization of stock-based compensation related to restricted stock grants, net of shares surrendered | 1,714 | 2,267 | 2,516 | 1,397 | 1,534 | |
Repurchase of common stock | (25,324) | (31,775) | ||||
Total shareholders’ equity | $ 1,618,817 | $ 1,666,264 | $ 1,646,529 | $ 1,625,103 | $ 1,601,700 | $ 1,594,034 |
Cumulative dividends declared per common share | $ 0.41 | $ 0.41 | $ 0.41 | $ 0.41 | ||
Common Stock [Member] | ||||||
Amortization of stock-based compensation related to restricted stock grants, net of shares surrendered (in shares) | 76,143 | 632 | 669 | 55,440 | (24,337) | |
Stock Repurchased and Retired During Period, Shares | (500,000) | (624,780) | ||||
Shares, Outstanding | 34,735,343 | 35,159,200 | 35,158,568 | 35,157,899 | 35,102,459 | 35,751,576 |
Common Stock and Paid in Capital [Member] | ||||||
Amortization of stock-based compensation related to restricted stock grants, net of shares surrendered | $ 1,714 | $ 2,267 | $ 2,516 | $ 1,397 | $ 1,534 | |
Repurchase of common stock | (25,324) | (31,775) | ||||
Total shareholders’ equity | 1,326,269 | 1,349,879 | 1,347,612 | 1,345,096 | 1,343,699 | $ 1,373,940 |
Retained Earnings [Member] | ||||||
New credit standard (ASC 326) - impact in year of adoption | (11,215) | |||||
NET INCOME | 46,855 | 38,957 | 36,548 | 23,541 | 16,882 | |
Accrual of dividends on common stock | (14,589) | (14,600) | (15,037) | (15) | (14,583) | |
Total shareholders’ equity | 279,582 | 247,316 | 222,959 | 201,448 | 177,922 | 186,838 |
Accumulated Other Comprehensive Income (Loss) [Member] | ||||||
Other comprehensive income, net of income tax | (56,103) | (6,889) | (2,601) | (1,520) | 46,823 | |
Total shareholders’ equity | $ 12,966 | $ 69,069 | $ 75,958 | $ 78,559 | $ 80,079 | $ 33,256 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 3 Months Ended | |||
Mar. 31, 2021 | Dec. 31, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | |
OPERATING ACTIVITIES: | ||||
Net income | $ 46,855 | $ 38,957 | $ 23,541 | $ 16,882 |
Adjustments to reconcile net income to net cash provided from operating activities: | ||||
Depreciation | 4,411 | 4,614 | ||
Deferred income/expense and capitalized servicing rights, net of amortization | (7,203) | (1,129) | ||
Amortization of core deposit intangibles | 1,711 | 2,001 | ||
Gain on sale of securities, net | (485) | (78) | ||
Net change in valuation of financial instruments carried at fair value | (59) | 4,596 | ||
(Increase) decrease in deferred taxes | 17,436 | (16,507) | ||
Increase in current taxes payable | 9,506 | 2,067 | ||
Stock-based compensation | 2,152 | 1,872 | ||
Net change in cash surrender value of BOLI | (1,002) | (1,041) | ||
Gain on sale of loans, excluding capitalized servicing rights | (9,487) | (8,363) | ||
(Gain) loss on disposal of real estate held for sale and property and equipment, net | (298) | 444 | ||
(Recapture) provision for credit losses | (9,251) | 23,470 | ||
Origination of loans held for sale | (301,393) | (296,712) | ||
Proceeds from sales of loans held for sale | 419,412 | 333,094 | ||
Net change in: | ||||
Other assets | 20,319 | (51,061) | ||
Other liabilities | 164,729 | 5,400 | ||
Net cash provided from operating activities | 322,481 | 52,563 | ||
INVESTING ACTIVITIES: | ||||
Purchases of securities—available-for-sale | (1,225,723) | (143,973) | ||
Principal repayments and maturities of securities—available-for-sale | 434,651 | 82,760 | ||
Proceeds from sales of securities—available-for-sale | 48,784 | 44,509 | ||
Purchases of securities—held-to-maturity | (31,170) | (206,155) | ||
Principal repayments and maturities of securities—held-to-maturity | 9,982 | 3,786 | ||
Purchases of equity securities | (4,750) | 0 | ||
Proceeds from sales of equity securities | 4,796 | 0 | ||
Loan originations, net of principal repayments | (77,834) | 16,646 | ||
Proceeds from sales of other loans | 8,367 | 5,751 | ||
Purchases of property and equipment | (2,334) | (3,086) | ||
Proceeds from sale of real estate held for sale and sale of other property | 1,999 | 877 | ||
Proceeds from FHLB stock repurchase program | 2,358 | 47,840 | ||
Purchase of FHLB stock | 0 | (39,745) | ||
Other | 1,418 | (72) | ||
Net cash used in investing activities | (829,456) | (190,862) | ||
FINANCING ACTIVITIES: | ||||
Increase in deposits, net | 981,571 | 400,895 | ||
Repayment of long term FHLB advances | (50,000) | 0 | ||
Repayment of overnight and short term FHLB advances, net | 0 | (203,000) | ||
Increase in other borrowings, net | 31,474 | 10,289 | ||
Cash dividends paid | (14,565) | (50,505) | ||
Taxes paid related to net share settlement of equity awards | 437 | 339 | ||
Cash paid for the repurchase of common stock | 25,324 | 31,775 | ||
Net cash provided from financing activities | 922,719 | 125,565 | ||
NET CHANGE IN CASH AND CASH EQUIVALENTS | 415,744 | (12,734) | ||
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | 1,234,183 | $ 295,001 | 307,735 | |
CASH AND CASH EQUIVALENTS, END OF PERIOD | 1,649,927 | $ 1,234,183 | 295,001 | |
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | ||||
Interest paid in cash | 5,829 | 13,014 | ||
Tax refunds received (paid) | 100 | (29) | ||
NON-CASH INVESTING AND FINANCING TRANSACTIONS: | ||||
Loans, net of discounts, specific loss allowances and unearned income, transferred to real estate owned and other repossessed assets | 0 | 1,588 | ||
Dividends Payable | $ 1,381 | $ 15,277 |
BASIS OF PRESENTATION AND SIGNI
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES | 3 Months Ended |
Mar. 31, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES | BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES The accompanying unaudited condensed consolidated financial statements include the accounts of Banner Corporation (the Company or Banner), a bank holding company incorporated in the State of Washington and its wholly-owned subsidiary, Banner Bank (the Bank). These unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (GAAP) for interim financial information and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X as promulgated by the Securities and Exchange Commission (SEC). In preparing these financial statements, the Company has evaluated events and transactions subsequent to March 31, 2021 for potential recognition or disclosure. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation of the financial position and results of operations for the periods presented have been included. Certain information and note disclosures have been condensed or omitted pursuant to the rules and regulations of the SEC and the accounting standards for interim financial statements. Certain reclassifications have been made to the 2020 Consolidated Financial Statements and/or schedules to conform to the 2021 presentation. Prior to the first quarter of 2021, the (recapture) provision for credit losses - unfunded loan commitment was recorded as non-interest expense, beginning in the first quarter of 2021 the (recapture) provision for credit losses - unfunded loan commitment is recorded as a component of the provision for credit losses. These reclassifications may have affected certain ratios for the prior periods. The effect of these reclassifications is considered immaterial. All significant intercompany transactions and balances have been eliminated. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect amounts reported in the financial statements. Various elements of the Company’s accounting policies, by their nature, are inherently subject to estimation techniques, valuation assumptions and other subjective assessments. In particular, management has identified several accounting policies that, due to the judgments, estimates and assumptions inherent in those policies, are significant to an understanding of Banner’s financial statements. These policies relate to (i) the methodology for the recognition of interest income, (ii) determination of the provision and allowance for credit losses, (iii) the valuation of financial assets and liabilities recorded at fair value (iv) the valuation of intangibles, such as goodwill, core deposit intangibles (CDI) and mortgage servicing rights, (v) the valuation of real estate held for sale, (vi) the valuation of assets acquired and liabilities assumed in business combinations and subsequent recognition of related income and expense, and (vii) the valuation or recognition of deferred tax assets and liabilities. These policies and judgments, estimates and assumptions are described in greater detail in subsequent notes to the Consolidated Financial Statements and Management’s Discussion and Analysis of Financial Condition and Results of Operations (Critical Accounting Policies) in our Annual Report on Form 10-K for the year ended December 31, 2020 filed with the SEC (2020 Form 10-K). There have been no significant changes in our application of these accounting policies during the first three months of 2021. The information included in this Form 10-Q should be read in conjunction with our 2020 Form 10-K. Interim results are not necessarily indicative of results for a full year or any other interim period. |
ACCOUNTING STANDARDS RECENTLY I
ACCOUNTING STANDARDS RECENTLY ISSUED OR ADOPTED | 3 Months Ended |
Mar. 31, 2021 | |
Accounting Changes and Error Corrections [Abstract] | |
ACCOUNTING STANDARDS RECENTLY ISSUED OR ADOPTED | ACCOUNTING STANDARDS RECENTLY ISSUED OR ADOPTED Reference Rate Reform (Topic 848) In March 2020, the Financial Accounting Standards Board (FASB) issued guidance within Accounting Standards Update (ASU) 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting , in response to the scheduled discontinuation of LIBOR on December 31, 2021. The amendments in this ASU provide optional guidance designed to provide relief from the accounting analysis and impacts that may otherwise be required for modifications to agreements (e.g., loans, debt securities, derivatives, borrowings) necessitated by reference rate reform. Since the issuance of this guidance, the publication cessation of U.S. dollar LIBOR has been extended to June 30, 2023. The following optional expedients for applying the requirements of certain Topics or Industry Subtopics in the Codification are permitted for contracts that are modified because of reference rate reform and that meet certain scope guidance: 1) modifications of contracts within the scope of Topics 310, Receivables, and 470, Debt, should be accounted for by prospectively adjusting the effective interest rate; 2) modifications of contracts within the scope of Topic 842, Leases, should be accounted for as a continuation of the existing contracts with no reassessments of the lease classification and the discount rate or remeasurements of lease payments that otherwise would be required under this Topic for modifications not accounted for as separate contracts; 3) modifications of contracts do not require an entity to reassess its original conclusion about whether that contract contains an embedded derivative that is clearly and closely related to the economic characteristics and risks of the host contract under Subtopic 815-15, Derivatives and Hedging- Embedded Derivatives; and 4) for other Topics or Industry Subtopics in the Codification, the amendments in this ASU also include a general principle that permits an entity to consider contract modifications due to reference rate reform to be an event that does not require contract remeasurement at the modification date or reassessment of a previous accounting determination. Upon adoption, an entity may make a one-time election to sell, transfer, or both sell and transfer debt securities classified as held to maturity that reference a rate affected by reference rate reform and that are classified as held to maturity before January 1, 2020. In January 2021, the FASB issued ASU 2021-01, Reference Rate Reform (Topic 848): Scope . This ASU clarifies that certain optional expedients and exceptions in Topic 848 for contract modifications and hedge accounting apply to derivatives that are affected by the discounting transition. The ASU also amends the expedients and exceptions in Topic 848 to capture the incremental consequences of the scope clarification and to tailor the existing guidance to derivative instruments affected by the discounting transition. The amendments in these ASUs are effective upon the issuance date of March 12, 2020 and once adopted will apply to contract modifications made and new hedging relationships entered into through December 31, 2022. The Company will be able to use the expedients in this guidance to manage through the transition away from LIBOR, specifically as they relate to loans and leases. The adoption of this accounting guidance is not expected to have a material impact on the Company’s Consolidated Financial Statements. |
SECURITIES
SECURITIES | 3 Months Ended |
Mar. 31, 2021 | |
Investments, Debt and Equity Securities [Abstract] | |
SECURITIES | SECURITIES The amortized cost, gross unrealized gains and losses and estimated fair value of securities at March 31, 2021 and December 31, 2020 are summarized as follows (in thousands): March 31, 2021 Amortized Cost Fair Trading: Corporate bonds $ 27,203 $ 25,039 $ 27,203 $ 25,039 March 31, 2021 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Allowance for Credit Losses Fair Available-for-Sale: U.S. Government and agency obligations $ 62,922 $ 740 $ (816) $ — $ 62,846 Municipal bonds 287,685 14,378 (1,328) — 300,735 Corporate bonds 243,428 2,290 (290) — 245,428 Mortgage-backed or related securities 2,399,117 28,710 (50,824) — 2,377,003 Asset-backed securities 3,750 — (2) — 3,748 $ 2,996,902 $ 46,118 $ (53,260) $ — $ 2,989,760 March 31, 2021 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Allowance for Credit Losses Held-to-Maturity: U.S. Government and agency obligations $ 339 $ 6 $ — $ 345 $ — Municipal bonds 381,136 17,740 (1,481) 397,395 (61) Corporate bonds 3,190 — (7) 3,183 (37) Mortgage-backed or related securities 57,290 1,668 (286) 58,672 — $ 441,955 $ 19,414 $ (1,774) $ 459,595 $ (98) December 31, 2020 Amortized Cost Fair Trading: Corporate bonds $ 27,203 $ 24,980 $ 27,203 $ 24,980 December 31, 2020 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Allowance for Credit Losses Fair Value Available-for-Sale: U.S. Government and agency obligations $ 141,668 $ 1,002 $ (935) $ — $ 141,735 Municipal bonds 283,997 19,523 (2) — 303,518 Corporate bonds 219,086 2,762 (79) — 221,769 Mortgage-backed or related securities 1,602,033 45,179 (1,060) — 1,646,152 Asset-backed securities 9,405 77 (63) — 9,419 $ 2,256,189 $ 68,543 $ (2,139) $ — $ 2,322,593 December 31, 2020 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Allowance for Credit Losses Held-to-Maturity: U.S. Government and agency obligations $ 340 $ 7 $ — $ 347 $ — Municipal bonds 370,998 24,130 (94) 395,034 (59) Corporate bonds 3,222 — (12) 3,210 (35) Mortgage-backed or related securities 47,247 2,843 — 50,090 — $ 421,807 $ 26,980 $ (106) $ 448,681 $ (94) Accrued interest receivable on held-to-maturity debt securities was $2.7 million and $3.0 million as of March 31, 2021 and December 31, 2020, respectively, and was $8.2 million and $6.9 million on available-for-sale debt securities as of March 31, 2021 and December 31, 2020, respectively. Accrued interest receivable on securities is reported in accrued interest receivable on the Consolidated Statements of Financial Condition and is excluded from the calculation of the allowance for credit losses. At March 31, 2021 and December 31, 2020, the gross unrealized losses and the fair value for securities available-for-sale aggregated by the length of time that individual securities have been in a continuous unrealized loss position were as follows (in thousands): March 31, 2021 Less Than 12 Months 12 Months or More Total Fair Unrealized Losses Fair Unrealized Losses Fair Unrealized Losses Available-for-Sale: U.S. Government and agency obligations $ 3,090 $ (10) $ 43,952 $ (806) $ 47,042 $ (816) Municipal bonds 50,710 (1,232) 8,403 (96) 59,113 (1,328) Corporate bonds 24,406 (286) 996 (4) 25,402 (290) Mortgage-backed or related securities 863,848 (34,608) 501,048 (16,216) 1,364,896 (50,824) Asset-backed securities 3,748 (2) — — 3,748 (2) $ 945,802 $ (36,138) $ 554,399 $ (17,122) $ 1,500,201 $ (53,260) December 31, 2020 Less Than 12 Months 12 Months or More Total Fair Unrealized Losses Fair Unrealized Losses Fair Unrealized Losses Available-for-Sale: U.S. Government and agency obligations $ 3,126 $ (8) $ 50,603 $ (927) $ 53,729 $ (935) Municipal bonds 495 (2) — — 495 (2) Corporate bonds 3,586 (79) — — 3,586 (79) Mortgage-backed or related securities 181,871 (1,046) 2,337 (14) 184,208 (1,060) Asset-backed securities — — 5,676 (63) 5,676 (63) $ 189,078 $ (1,135) $ 58,616 $ (1,004) $ 247,694 $ (2,139) At March 31, 2021, there were 81 securities—available-for-sale with unrealized losses, compared to 54 at December 31, 2020. Management does not believe that any individual unrealized loss as of March 31, 2021 or December 31, 2020 resulted from credit loss. The decline in fair market value of these securities was generally due to changes in interest rates and changes in market-desired spreads subsequent to their purchase. There were no sales of securities—trading during the three months ended March 31, 2021 or 2020. There were no securities—trading in a nonaccrual status at March 31, 2021 or December 31, 2020. Net unrealized holding gains of $59,000 were recognized during the three months ended March 31, 2021 compared to $4.6 million of net unrealized holding losses recognized during the three months ended March 31, 2020. The following table presents gross gains and losses on sales of securities available-for-sale (in thousands): Three Months Ended 2021 2020 Available-for-Sale: Gross Gains $ 595 $ 78 Gross Losses (110) — Balance, end of the period $ 485 $ 78 There were no securities—available-for-sale in a nonaccrual status at March 31, 2021 or December 31, 2020. There were no sales of securities—held-to-maturity during the three months ended March 31, 2021 or 2020. There were no securities—held-to-maturity in a nonaccrual status or 30 days or more past due at March 31, 2021 or December 31, 2020. There was one sale of equity securities totaling $4.8 million during the three months ended March 31, 2021 with a resulting net gain of $46,000 and no sales of equity securities during the three months ended March 31, 2020. The amortized cost and estimated fair value of securities at March 31, 2021, by contractual maturity, are shown below (in thousands). Expected maturities will differ from contractual maturities because some securities may be called or prepaid with or without call or prepayment penalties. March 31, 2021 Trading Available-for-Sale Held-to-Maturity Amortized Fair Amortized Fair Amortized Fair Maturing in one year or less $ — $ — $ 158,605 $ 158,816 $ 5,609 $ 5,671 Maturing after one year through five years — — 178,983 187,427 54,888 57,069 Maturing after five years through ten years — — 680,138 675,201 33,435 35,387 Maturing after ten years through twenty years 27,203 25,039 276,682 285,450 152,353 155,651 Maturing after twenty years — — 1,702,494 1,682,866 195,670 205,817 $ 27,203 $ 25,039 $ 2,996,902 $ 2,989,760 $ 441,955 $ 459,595 The following table presents, as of March 31, 2021, investment securities which were pledged to secure borrowings, public deposits or other obligations as permitted or required by law (in thousands): March 31, 2021 Carrying Value Amortized Cost Fair Purpose or beneficiary: State and local governments public deposits $ 206,699 $ 205,752 $ 218,842 Interest rate swap counterparties 28,385 27,749 28,550 Repurchase agreements 245,018 250,440 245,018 Other 2,588 2,588 2,648 Total pledged securities $ 482,690 $ 486,529 $ 495,058 The Company monitors the credit quality of held-to-maturity debt securities through the use of credit rating. Credit ratings are reviewed and updated quarterly. The following table summarizes the amortized cost of held-to-maturity debt securities by credit rating at March 31, 2021 and December 31, 2020 (in thousands): March 31, 2021 U.S. Government and agency obligations Municipal bonds Corporate bonds Mortgage-backed or related securities Total AAA/AA/A $ — $ 349,687 $ 500 $ — $ 350,187 Not Rated 339 31,449 2,690 57,290 91,768 $ 339 $ 381,136 $ 3,190 $ 57,290 $ 441,955 December 31, 2020 U.S. Government and agency obligations Municipal bonds Corporate bonds Mortgage-backed or related securities Total AAA/AA/A $ — $ 349,123 $ 500 $ — $ 349,623 Not Rated 340 21,875 2,722 47,247 72,184 $ 340 $ 370,998 $ 3,222 $ 47,247 $ 421,807 The following table presents the activity in the allowance for credit losses for held-to-maturity debt securities by major type for the three months ended March 31, 2021 and March 31, 2020 (in thousands): For the Three Months Ended March 31, 2021 U.S. Government and agency obligations Municipal bonds Corporate bonds Mortgage-backed or related securities Total Allowance for credit losses - securities Beginning Balance $ — $ 59 $ 35 $ — $ 94 Provision for credit losses — 2 2 — 4 Ending Balance $ — $ 61 $ 37 $ — $ 98 |
LOANS RECEIVABLE AND THE ALLOWA
LOANS RECEIVABLE AND THE ALLOWANCE FOR CREDIT LOSSES | 3 Months Ended |
Mar. 31, 2021 | |
Receivables [Abstract] | |
LOANS RECEIVABLE AND THE ALLOWANCE FOR LOAN LOSSES | LOANS RECEIVABLE AND THE ALLOWANCE FOR CREDIT LOSSES - LOANS The following table presents the loans receivable at March 31, 2021 and December 31, 2020 by class (dollars in thousands). March 31, 2021 December 31, 2020 Amount Percent of Total Amount Percent of Total Commercial real estate: Owner-occupied $ 1,045,656 10.5 % $ 1,076,467 10.9 % Investment properties 1,931,805 19.4 1,955,684 19.8 Small balance CRE 639,330 6.4 573,849 5.8 Multifamily real estate 433,775 4.3 428,223 4.4 Construction, land and land development: Commercial construction 199,037 2.0 228,937 2.3 Multifamily construction 305,694 3.1 305,527 3.1 One- to four-family construction 542,840 5.5 507,810 5.1 Land and land development 266,730 2.7 248,915 2.5 Commercial business: Commercial business (1) 2,376,594 23.9 2,178,461 22.1 Small business scored 717,502 7.2 743,451 7.5 Agricultural business, including secured by farmland (2) 262,410 2.6 299,949 3.0 One- to four-family residential 655,627 6.6 717,939 7.3 Consumer: Consumer—home equity revolving lines of credit 466,132 4.7 491,812 5.0 Consumer—other 104,565 1.1 113,958 1.2 Total loans 9,947,697 100.0 % 9,870,982 100.0 % Less allowance for credit losses - loans (156,054) (167,279) Net loans $ 9,791,643 $ 9,703,703 (1) Includes $1.28 billion and $1.04 billion of U.S. Small Business Administration (SBA) Paycheck Protection Program (PPP) loans as of March 31, 2021 and December 31, 2020, respectively. (2) Includes $36.3 million of PPP loans as of March 31, 2021 and none as of December 31, 2020. Loan amounts are net of unearned loan fees in excess of unamortized costs of $35.5 million as of March 31, 2021 and $25.6 million as of December 31, 2020. Net loans include net discounts on acquired loans of $13.9 million and $16.1 million as of March 31, 2021 and December 31, 2020, respectively. Net loans does not include accrued interest receivable. Accrued interest receivable on loans was $38.2 million as of March 31, 2021 and $36.6 million as of December 31, 2020 and was reported in accrued interest receivable on the Consolidated Statements of Financial Condition. Purchased credit-deteriorated and purchased non-credit-deteriorated loans. Loans acquired in business combinations are recorded at their fair value at the acquisition date. Acquired loans are evaluated upon acquisition and classified as either purchased credit-deteriorated (PCD) or purchased non-credit-deteriorated. There were no PCD loans acquired for the three months ended March 31, 2021. Troubled Debt Restructurings. Loans are reported as TDRs when the bank grants one or more concessions to a borrower experiencing financial difficulties that it would not otherwise consider. Our TDRs have generally not involved forgiveness of amounts due, but almost always include a modification of multiple factors; the most common combination includes interest rate, payment amount and maturity date. As of March 31, 2021 and December 31, 2020, the Company had TDRs of $7.6 million and $7.9 million, respectively, and no commitments to advance additional funds related to TDRs. There were no new TDRs that occurred during the three months ended March 31, 2021. The following table presents new TDRs that occurred during the three months ended March 31, 2020 (dollars in thousands): Three months ended March 31, 2020 Number of Pre- Post- Recorded Investment Commercial business: Commercial business 2 4,796 4,796 Total 2 $ 4,796 $ 4,796 There were no TDRs which incurred a payment default within twelve months of the restructure date during the three-month periods ended March 31, 2021 and 2020. A default on a TDR results in either a transfer to nonaccrual status or a partial charge-off, or both. Credit Quality Indicators : To appropriately and effectively manage the ongoing credit quality of the Company’s loan portfolio, management has implemented a risk-rating or loan grading system for its loans. The system is a tool to evaluate portfolio asset quality throughout each applicable loan’s life as an asset of the Company. Generally, loans are risk rated on an aggregate borrower/relationship basis with individual loans sharing similar ratings. There are some instances when specific situations relating to individual loans will provide the basis for different risk ratings within the aggregate relationship. Loans are graded on a scale of 1 to 9. A description of the general characteristics of these categories is shown below: Overall Risk Rating Definitions : Risk-ratings contain both qualitative and quantitative measurements and take into account the financial strength of a borrower and the structure of the loan or lease. Consequently, the definitions are to be applied in the context of each lending transaction and judgment must also be used to determine the appropriate risk rating, as it is not unusual for a loan or lease to exhibit characteristics of more than one risk-rating category. Consideration for the final rating is centered in the borrower’s ability to repay, in a timely fashion, both principal and interest. The Company’s risk-rating and loan grading policies are reviewed and approved annually. There were no material changes in the risk-rating or loan grading system for the periods presented. Risk Ratings 1-5: Pass Credits with risk ratings of 1 to 5 meet the definition of a pass risk rating. The strength of credits vary within the pass risk ratings, ranging from a risk rated 1 being an exceptional credit to a risk rated 5 being an acceptable credit that requires a more than normal level of supervision. Risk Rating 6: Special Mention A credit with potential weaknesses that deserves management’s close attention is risk rated a 6. If left uncorrected, these potential weaknesses will result in deterioration in the capacity to repay debt. A key distinction between Special Mention and Substandard is that in a Special Mention credit, there are identified weaknesses that pose potential risk(s) to the repayment sources, versus well defined weaknesses that pose risk(s) to the repayment sources. Assets in this category are expected to be in this category no more than 9-12 months as the potential weaknesses in the credit are resolved. Risk Rating 7: Substandard A credit with well-defined weaknesses that jeopardize the ability to repay in full is risk rated a 7. These credits are inadequately protected by either the sound net worth and payment capacity of the borrower or the value of pledged collateral. These are credits with a distinct possibility of loss. Loans headed for foreclosure and/or legal action due to deterioration are rated 7 or worse. Risk Rating 8: Doubtful A credit with an extremely high probability of loss is risk rated 8. These credits have all the same critical weaknesses that are found in a substandard loan; however, the weaknesses are elevated to the point that based upon current information, collection or liquidation in full is improbable. While some loss on doubtful credits is expected, pending events may make the amount and timing of any loss indeterminable. In these situations taking the loss is inappropriate until the outcome of the pending event is clear. Risk Rating 9: Loss A credit that is considered to be currently uncollectible or of such little value that it is no longer a viable bank asset is risk rated 9. Losses should be taken in the accounting period in which the credit is determined to be uncollectible. Taking a loss does not mean that a credit has absolutely no recovery or salvage value but, rather, it is not practical or desirable to defer writing off the credit, even though partial recovery may occur in the future. The following tables present the Company’s portfolio of risk-rated loans by class and by grade as of March 31, 2021 and December 31, 2020 (in thousands). Revolving loans that are converted to term loans are treated as new originations in the table below and are presented by year of origination. Term loans that are renewed or extended for periods longer than 90 days are presented as a new origination in the year of the most recent renewal or extension. March 31, 2021 Term Loans by Year of Origination Revolving Loans Total Loans By class: 2021 2020 2019 2018 2017 Prior Commercial real estate - owner occupied Risk Rating Pass $ 39,192 $ 236,836 $ 158,294 $ 147,397 $ 98,352 $ 266,316 $ 5,455 $ 951,842 Special Mention — — 16,835 — 2,217 87 — 19,139 Substandard 45 7,096 24,526 2,329 2,311 38,368 — 74,675 Doubtful — — — — — — — — Loss — — — — — — — — Total Commercial real estate - owner occupied $ 39,237 $ 243,932 $ 199,655 $ 149,726 $ 102,880 $ 304,771 $ 5,455 $ 1,045,656 Commercial real estate - investment properties Risk Rating Pass $ 41,181 $ 238,095 $ 260,934 $ 284,975 $ 226,762 $ 711,557 $ 20,001 $ 1,783,505 Special Mention — — — — — 11,079 — 11,079 Substandard 422 28,529 11,383 20,864 36,212 39,811 — 137,221 Doubtful — — — — — — — — Loss — — — — — — — — Total Commercial real estate - investment properties $ 41,603 $ 266,624 $ 272,317 $ 305,839 $ 262,974 $ 762,447 $ 20,001 $ 1,931,805 Multifamily real estate Risk Rating Pass $ 16,005 $ 76,245 $ 71,073 $ 37,683 $ 93,037 $ 133,912 $ 2,080 $ 430,035 Special Mention — — — — — — — — Substandard — 2,312 1,428 — — — — 3,740 Doubtful — — — — — — — — Loss — — — — — — — — Total Multifamily real estate $ 16,005 $ 78,557 $ 72,501 $ 37,683 $ 93,037 $ 133,912 $ 2,080 $ 433,775 March 31, 2021 Term Loans by Year of Origination Revolving Loans Total Loans By class: 2021 2020 2019 2018 2017 Prior Commercial construction Risk Rating Pass $ 4,182 $ 94,483 $ 42,572 $ 38,566 $ 332 $ 527 $ — $ 180,662 Special Mention — — 5,967 — — — — 5,967 Substandard 3,507 — 3,938 4,865 — 98 — 12,408 Doubtful — — — — — — — — Loss — — — — — — — — Total Commercial construction $ 7,689 $ 94,483 $ 52,477 $ 43,431 $ 332 $ 625 $ — $ 199,037 Multifamily construction Risk Rating Pass $ 26,801 $ 84,144 $ 128,336 $ 51,514 $ 14,899 $ — $ — $ 305,694 Special Mention — — — — — — — — Substandard — — — — — — — — Doubtful — — — — — — — — Loss — — — — — — — — Total Multifamily construction $ 26,801 $ 84,144 $ 128,336 $ 51,514 $ 14,899 $ — $ — $ 305,694 One- to four- family construction Risk Rating Pass $ 204,174 $ 324,068 $ 10,374 $ — $ — $ — $ 3,537 $ 542,153 Special Mention — — — — — — — — Substandard 356 — 331 — — — — 687 Doubtful — — — — — — — — Loss — — — — — — — — Total One- to four- family construction $ 204,530 $ 324,068 $ 10,705 $ — $ — $ — $ 3,537 $ 542,840 March 31, 2021 Term Loans by Year of Origination Revolving Loans Total Loans By class: 2021 2020 2019 2018 2017 Prior Land and land development Risk Rating Pass $ 50,665 $ 141,075 $ 26,180 $ 12,004 $ 6,567 $ 10,249 $ 16,751 $ 263,491 Special Mention — — — — — — — — Substandard 2,869 14 28 141 187 — — 3,239 Doubtful — — — — — — — — Loss — — — — — — — — Total Land and land development $ 53,534 $ 141,089 $ 26,208 $ 12,145 $ 6,754 $ 10,249 $ 16,751 $ 266,730 Commercial business Risk Rating Pass $ 440,419 $ 1,103,935 $ 211,237 $ 191,647 $ 62,188 $ 100,296 $ 211,777 $ 2,321,499 Special Mention 75 96 3,184 — 752 104 10,487 14,698 Substandard 2,235 3,620 4,912 18,140 4,860 1,583 5,047 40,397 Doubtful — — — — — — — — Loss — — — — — — — — Total Commercial business $ 442,729 $ 1,107,651 $ 219,333 $ 209,787 $ 67,800 $ 101,983 $ 227,311 $ 2,376,594 Agricultural business including secured by farmland Risk Rating Pass $ 12,322 $ 31,316 $ 55,503 $ 29,215 $ 20,206 $ 44,027 $ 61,005 $ 253,594 Special Mention — — — — 810 — — 810 Substandard — 445 2,548 803 144 2,175 1,891 8,006 Doubtful — — — — — — — — Loss — — — — — — — — Total Agricultural business including secured by farmland $ 12,322 $ 31,761 $ 58,051 $ 30,018 $ 21,160 $ 46,202 $ 62,896 $ 262,410 December 31, 2020 Term Loans by Year of Origination Revolving Loans Total Loans By class: 2020 2019 2018 2017 2016 Prior Commercial real estate - owner occupied Risk Rating Pass $ 243,100 $ 156,838 $ 156,817 $ 122,484 $ 92,312 $ 212,792 $ 3,379 $ 987,722 Special Mention — 4,560 — 2,251 — 1,869 149 8,829 Substandard 7,923 26,914 3,040 2,516 11,731 27,792 — 79,916 Doubtful — — — — — — — — Loss — — — — — — — — Total Commercial real estate - owner occupied $ 251,023 $ 188,312 $ 159,857 $ 127,251 $ 104,043 $ 242,453 $ 3,528 $ 1,076,467 Commercial real estate - investment properties Risk Rating Pass $ 237,553 $ 262,543 $ 299,452 $ 218,018 $ 278,348 $ 502,914 $ 20,062 $ 1,818,890 Special Mention — 2,712 — — 2,730 1,856 — 7,298 Substandard 19,812 11,418 20,352 36,310 23,027 18,577 — 129,496 Doubtful — — — — — — — — Loss — — — — — — — — Total Commercial real estate - investment properties $ 257,365 $ 276,673 $ 319,804 $ 254,328 $ 304,105 $ 523,347 $ 20,062 $ 1,955,684 Multifamily real estate Risk Rating Pass $ 78,632 $ 69,825 $ 39,343 $ 93,442 $ 44,395 $ 96,863 $ 1,983 $ 424,483 Special Mention — — — — — — — — Substandard 2,312 1,428 — — — — — 3,740 Doubtful — — — — — — — — Loss — — — — — — — — Total Multifamily real estate $ 80,944 $ 71,253 $ 39,343 $ 93,442 $ 44,395 $ 96,863 $ 1,983 $ 428,223 December 31, 2020 Term Loans by Year of Origination Revolving Loans Total Loans By class: 2020 2019 2018 2017 2016 Prior Commercial construction Risk Rating Pass $ 83,506 $ 67,152 $ 41,299 $ 6,038 $ 2,158 $ 1,129 $ — $ 201,282 Special Mention — 5,963 — — — — — 5,963 Substandard 12,913 3,808 4,873 — 98 — — 21,692 Doubtful — — — — — — — — Loss — — — — — — — — Total Commercial construction $ 96,419 $ 76,923 $ 46,172 $ 6,038 $ 2,256 $ 1,129 $ — $ 228,937 Multifamily construction Risk Rating Pass $ 79,710 $ 151,141 $ 59,744 $ 14,932 $ — $ — $ — $ 305,527 Special Mention — — — — — — — — Substandard — — — — — — — — Doubtful — — — — — — — — Loss — — — — — — — — Total Multifamily construction $ 79,710 $ 151,141 $ 59,744 $ 14,932 $ — $ — $ — $ 305,527 One- to four- family construction Risk Rating Pass $ 461,294 $ 35,910 $ — $ — $ — $ — $ 7,581 $ 504,785 Special Mention 1,563 — — — — — 630 2,193 Substandard 501 331 — — — — — 832 Doubtful — — — — — — — — Loss — — — — — — — — Total One- to four- family construction $ 463,358 $ 36,241 $ — $ — $ — $ — $ 8,211 $ 507,810 December 31, 2020 Term Loans by Year of Origination Revolving Loans Total Loans By class: 2020 2019 2018 2017 2016 Prior Land and land development Risk Rating Pass $ 156,450 $ 37,397 $ 16,560 $ 6,801 $ 6,264 $ 4,840 $ 17,020 $ 245,332 Special Mention — — — — — — — — Substandard 14 30 3,047 190 — 302 — 3,583 Doubtful — — — — — — — — Loss — — — — — — — — Total Land and land development $ 156,464 $ 37,427 $ 19,607 $ 6,991 $ 6,264 $ 5,142 $ 17,020 $ 248,915 Commercial business Risk Rating Pass $ 1,243,276 $ 230,845 $ 203,051 $ 65,524 $ 38,757 $ 66,206 $ 264,741 $ 2,112,400 Special Mention 103 412 — 829 — 115 9,507 10,966 Substandard 6,624 14,413 18,569 5,224 1,320 453 8,492 55,095 Doubtful — — — — — — — — Loss — — — — — — — — Total Commercial business $ 1,250,003 $ 245,670 $ 221,620 $ 71,577 $ 40,077 $ 66,774 $ 282,740 $ 2,178,461 Agricultural business including secured by farmland Risk Rating Pass $ 32,032 $ 62,058 $ 31,381 $ 22,635 $ 22,394 $ 24,950 $ 91,660 $ 287,110 Special Mention — — — 810 — 537 — 1,347 Substandard 1,542 2,652 1,076 163 675 3,049 2,335 11,492 Doubtful — — — — — — — — Loss — — — — — — — — Total Agricultural business including secured by farmland $ 33,574 $ 64,710 $ 32,457 $ 23,608 $ 23,069 $ 28,536 $ 93,995 $ 299,949 The following tables present the Company’s portfolio of non-risk-rated loans by class and delinquency status as of March 31, 2021 and December 31, 2020 (in thousands). Revolving loans that are converted to term loans are treated as new originations in the table below and are presented by year of origination. Term loans that are renewed or extended for periods longer than 90 days are presented as a new origination in the year of the most recent renewal or extension. March 31, 2021 Term Loans by Year of Origination Revolving Loans Total Loans By class: 2021 2020 2019 2018 2017 Prior Small balance CRE Past Due Category Current $ 16,636 $ 86,223 $ 83,030 $ 89,631 $ 83,972 $ 275,125 $ 1,059 $ 635,676 30-59 Days Past Due — — — — — 895 — 895 60-89 Days Past Due — — — — — 1,978 — 1,978 90 Days + Past Due — — — — 558 223 — 781 Total small balance CRE $ 16,636 $ 86,223 $ 83,030 $ 89,631 $ 84,530 $ 278,221 $ 1,059 $ 639,330 Small business scored Past Due Category Current $ 36,376 $ 148,553 $ 134,717 $ 114,934 $ 78,944 $ 99,736 $ 100,192 $ 713,452 30-59 Days Past Due 50 17 139 694 82 357 121 1,460 60-89 Days Past Due — 755 54 89 47 — 3 948 90 Days + Past Due — 130 18 280 617 597 — 1,642 Total small business scored $ 36,426 $ 149,455 $ 134,928 $ 115,997 $ 79,690 $ 100,690 $ 100,316 $ 717,502 One- to four- family residential Past Due Category Current $ 16,134 $ 113,853 $ 80,610 $ 79,090 $ 82,592 $ 276,047 $ 2,740 $ 651,066 30-59 Days Past Due — 277 — 247 369 94 — 987 60-89 Days Past Due — — — 19 — 2 — 21 90 Days + Past Due 41 — 972 174 — 2,366 — 3,553 Total One- to four- family residential $ 16,175 $ 114,130 $ 81,582 $ 79,530 $ 82,961 $ 278,509 $ 2,740 $ 655,627 March 31, 2021 Term Loans by Year of Origination Revolving Loans Total Loans By class: 2021 2020 2019 2018 2017 Prior Consumer—home equity revolving lines of credit Past Due Category Current $ 8,652 $ 1,216 $ 3,046 $ 3,089 $ 2,484 $ 2,888 $ 442,660 $ 464,035 30-59 Days Past Due — — 64 — — 193 207 464 60-89 Days Past Due — — — — 109 — — 109 90 Days + Past Due — — 413 196 127 556 232 1,524 Total Consumer—home equity revolving lines of credit $ 8,652 $ 1,216 $ 3,523 $ 3,285 $ 2,720 $ 3,637 $ 443,099 $ 466,132 Consumer-other Past Due Category Current $ 2,738 $ 19,754 $ 11,549 $ 12,375 $ 9,931 $ 24,136 $ 23,893 $ 104,376 30-59 Days Past Due — — — 13 2 56 60 131 60-89 Days Past Due — — 27 4 — 10 17 58 90 Days + Past Due — — — — — — — — Total Consumer-other $ 2,738 $ 19,754 $ 11,576 $ 12,392 $ 9,933 $ 24,202 $ 23,970 $ 104,565 December 31, 2020 Term Loans by Year of Origination Revolving Loans Total Loans By class: 2020 2019 2018 2017 2016 Prior Small balance CRE Past Due Category Current $ 56,544 $ 80,090 $ 84,749 $ 77,637 $ 68,791 $ 202,653 $ 2,550 $ 573,014 30-59 Days Past Due — — — — — — — — 60-89 Days Past Due — — — 45 — — — 45 90 Days + Past Due — — — 567 — 223 — 790 Total small balance CRE $ 56,544 $ 80,090 $ 84,749 $ 78,249 $ 68,791 $ 202,876 $ 2,550 $ 573,849 Small business scored Past Due Category Current $ 157,161 $ 145,037 $ 126,578 $ 89,734 $ 47,909 $ 63,347 $ 109,287 $ 739,053 30-59 Days Past Due 129 62 310 723 4 1 230 1,459 60-89 Days Past Due 98 147 3 140 — 352 151 891 90 Days + Past Due 73 228 800 484 169 248 46 2,048 Total small business scored $ 157,461 $ 145,474 $ 127,691 $ 91,081 $ 48,082 $ 63,948 $ 109,714 $ 743,451 One- to four- family residential Past Due Category Current $ 105,411 $ 90,425 $ 92,232 $ 101,491 $ 60,738 $ 254,850 $ 3,164 $ 708,311 30-59 Days Past Due 1,051 — 1,302 829 — 1,438 — 4,620 60-89 Days Past Due — — 19 — — 936 — 955 90 Days + Past Due — 114 1,185 456 169 2,129 — 4,053 Total One- to four- family residential $ 106,462 $ 90,539 $ 94,738 $ 102,776 $ 60,907 $ 259,353 $ 3,164 $ 717,939 December 31, 2020 Term Loans by Year of Origination Revolving Loans Total Loans By class: 2020 2019 2018 2017 2016 Prior Consumer—home equity revolving lines of credit Past Due Category Current $ 10,522 $ 2,617 $ 2,553 $ 3,359 $ 1,372 $ 2,154 $ 466,490 $ 489,067 30-59 Days Past Due — — — — — 50 409 459 60-89 Days Past Due — 202 — — — 237 — 439 90 Days + Past Due — 312 198 564 286 255 232 1,847 Total Consumer—home equity revolving lines of credit $ 10,522 $ 3,131 $ 2,751 $ 3,923 $ 1,658 $ 2,696 $ 467,131 $ 491,812 Consumer-other Past Due Category Current $ 21,811 $ 13,377 $ 13,936 $ 11,433 $ 8,575 $ 18,802 $ 25,460 $ 113,394 30-59 Days Past Due 48 35 15 22 46 26 44 236 60-89 Days Past Due 242 — — 33 21 14 18 328 90 Days + Past Due — — — — — — — — Total Consumer-other $ 22,101 $ 13,412 $ 13,951 $ 11,488 $ 8,642 $ 18,842 $ 25,522 $ 113,958 The following tables provide the amortized cost basis of collateral-dependent loans as of March 31, 2021 and December 31, 2020 (in thousands). Our collateral dependent loans presented in the tables below have no significant concentrations by property type or location. March 31, 2021 Real Estate Accounts Receivable Equipment Inventory Total Commercial real estate: Owner-occupied $ 4,684 $ — $ — $ — $ 4,684 Investment properties 12,568 — — — 12,568 Small balance CRE 3,090 — — — 3,090 Commercial business Commercial business 557 — 73 — 630 Small business scored 43 — 47 — 90 Agricultural business, including secured by farmland 427 — 930 — 1,357 Total $ 21,369 $ — $ 1,050 $ — $ 22,419 December 31, 2020 Real Estate Accounts Receivable Equipment Inventory Total Commercial real estate: Owner-occupied $ 7,506 $ — $ — $ — $ 7,506 Investment properties 8,979 — — — 8,979 Small balance CRE 567 — — — 567 Land and land development 302 — — — 302 Commercial business Commercial business 557 — — — 557 Small business scored 44 — 47 — 91 Agricultural business, including secured by farmland 427 — 984 — 1,411 One- to four-family residential 196 — — — 196 Total $ 18,578 $ — $ 1,031 $ — $ 19,609 The following tables provide additional detail on the age analysis of the Company’s past due loans as of March 31, 2021 and December 31, 2020 (in thousands): March 31, 2021 30-59 Days 60-89 Days 90 Days or More Total Current Total Loans Non-accrual with no Allowance Total Non-accrual (1) Loans 90 Days or More Past Due and Accruing Commercial real estate: Owner-occupied $ 14,824 $ 4,687 $ 587 $ 20,098 $ 1,025,558 $ 1,045,656 $ 4,687 $ 5,416 $ — Investment properties 1 1,322 3,709 5,032 1,926,773 1,931,805 12,568 12,568 — Small balance CRE 895 1,978 781 3,654 635,676 639,330 3,086 3,631 — Multifamily real estate — — — — 433,775 433,775 — — — Construction, land and land development: Commercial construction — — 98 98 198,939 199,037 — 98 — Multifamily construction — — — — 305,694 305,694 — — — One- to four-family construction 170 — — 170 542,670 542,840 — 687 — Land and land development — — 14 14 266,716 266,730 — 201 — Commercial business Commercial business 159 558 228 945 2,375,649 2,376,594 628 1,266 — Small business scored 1,460 948 1,642 4,050 713,452 717,502 90 2,928 37 Agricultural business, including secured by farmland — — 1,536 1,536 260,874 262,410 1,357 1,536 — One- to four-family residential 987 21 3,553 4,561 651,066 655,627 — 4,456 1,524 Consumer: Consumer—home equity revolving lines of credit 464 109 1,524 2,097 464,035 466,132 — 2,234 — Consumer—other 131 58 — 189 104,376 104,565 — 10 — Total $ 19,091 $ 9,681 $ 13,672 $ 42,444 $ 9,905,253 $ 9,947,697 $ 22,416 $ 35,031 $ 1,561 December 31, 2020 30-59 Days 60-89 Days 90 Days or More Total Current Total Loans Non-accrual with no Allowance Total Non-accrual (1) Loans 90 Days or More Past Due and Accruing Commercial real estate: Owner-occupied $ — $ 182 $ 1,447 $ 1,629 $ 1,074,838 $ 1,076,467 $ 7,509 $ 8,429 $ — Investment properties — — 7,981 7,981 1,947,703 1,955,684 8,979 8,979 — Small balance CRE — 45 790 835 573,014 573,849 567 791 — Multifamily real estate — — — — 428,223 428,223 — — — Construction, land and land development: Commercial construction — — 98 98 228,839 228,937 — 98 — Multifamily construction — — — — 305,527 305,527 — — — One- to four-family construction 356 — 331 687 507,123 507,810 — 331 — Land and land development — — 317 317 248,598 248,915 302 507 — Commercial business Commercial business 3,247 31 2,088 5,366 2,173,095 2,178,461 555 1,988 889 Small business scored 1,459 891 2,048 4,398 739,053 743,451 91 3,419 136 Agricultural business, including secured by farmland 298 37 1,548 1,883 298,066 299,949 1,412 1,743 — One-to four-family residential 4,620 955 4,053 9,628 708,311 717,939 171 3,556 1,899 Consumer: Consumer secured by one- to four-family 459 439 1,847 2,745 489,067 491,812 — 2,697 130 Consumer—other 236 328 — 564 113,394 113,958 — 22 — Total $ 10,675 $ 2,908 $ 22,548 $ 36,131 $ 9,834,851 $ 9,870,982 $ 19,586 $ 32,560 $ 3,054 (1) The Company did not recognize any interest income on non-accrual loans during both the three months ended March 31, 2021 and the year ended December 31, 2020. The following tables provide the activity in the allowance for credit losses by portfolio segment for the three months ended March 31, 2021 and 2020 (in thousands): For the Three Months Ended March 31, 2021 Commercial Multifamily Construction and Land Commercial Business Agricultural Business One- to Four-Family Residential Consumer Unallocated Total Allowance for credit losses: Beginning balance $ 57,791 $ 3,893 $ 41,295 $ 35,007 $ 4,914 $ 9,913 $ 14,466 $ — $ 167,279 Provision/(recapture) for credit losses 5,359 474 (4,955) (3,786) (297) (2,038) (2,792) — (8,035) Recoveries 24 — 100 979 — 113 296 — 1,512 Charge-offs (3,763) — — (789) — — (150) — (4,702) Ending balance $ 59,411 $ 4,367 $ 36,440 $ 31,411 $ 4,617 $ 7,988 $ 11,820 $ — $ 156,054 The changes in the allowance for credit losses during the three months ended March 31, 2021 were primarily the result of the $8.0 million recapture of provision for credit losses recorded as well as the net charge offs of $3.2 million recognized during the current quarter. The recapture of provision for credit losses for the current quarter primarily reflects the decrease in loan balances, excluding the increase in PPP loans, as well as improvement in the forecasted economic indicators. For the Three Months Ended March 31, 2020 Commercial Multifamily Construction and Land Commercial Business Agricultural Business One- to Four-Family Residential Consumer Unallocated Total Allowance for credit losses: Beginning balance $ 30,591 $ 4,754 $ 22,994 $ 23,370 $ 4,120 $ 4,136 $ 8,202 $ 2,392 $ 100,559 Impact of Adopting ASC 326 (2,864) (2,204) 2,515 3,010 (351) 7,125 2,973 (2,392) 7,812 Provision/(recapture) for credit losses 1,545 321 8,708 6,447 (1,006) 539 5,159 — 21,713 Recoveries 167 — — 205 1,750 148 96 — 2,366 Charge-offs (100) (66) — (1,384) — (64) (348) — (1,962) Ending balance $ 29,339 $ 2,805 $ 34,217 $ 31,648 $ 4,513 $ 11,884 $ 16,082 $ — $ 130,488 |
GOODWILL, OTHER INTANGIBLE ASSE
GOODWILL, OTHER INTANGIBLE ASSETS AND MORTGAGE SERVICING RIGHTS | 3 Months Ended |
Mar. 31, 2021 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
GOODWILL, OTHER INTANGIBLE ASSETS AND MORTGAGE SERVICING RIGHTS | GOODWILL, OTHER INTANGIBLE ASSETS AND MORTGAGE SERVICING RIGHTS Goodwill and Other Intangible Assets: At March 31, 2021, intangible assets are comprised of goodwill and CDI acquired in business combinations. Goodwill represents the excess of the purchase consideration paid over the fair value of the assets acquired, net of the fair values of liabilities assumed in a business combination, and is not amortized but is reviewed at least annually for impairment. Banner has identified one reporting unit for purposes of evaluating goodwill for impairment. The Company completed an assessment of qualitative factors as of December 31, 2020 and as a result of the economic impact of the COVID-19 pandemic concluded further analysis was required. The Company completed a quantitative goodwill impairment test and concluded the fair value of Banner Bank, the reporting unit, exceeded the carrying value of the reporting unit including goodwill and therefore no impairment existed as of December 31, 2020. CDI represents the value of transaction-related deposits and the value of the client relationships associated with the deposits. The Company amortizes CDI assets over their estimated useful lives and reviews them at least annually for events or circumstances that could impair their value. The following table summarizes the changes in the Company’s goodwill and other intangibles for the three months ended March 31, 2021 and the year ended December 31, 2020 (in thousands): Goodwill CDI Total Balance, December 31, 2019 $ 373,121 $ 29,158 $ 402,279 Amortization — (7,732) (7,732) Balance, December 31, 2020 373,121 21,426 394,547 Amortization — (1,711) (1,711) Balance, March 31, 2021 $ 373,121 $ 19,715 $ 392,836 The following table presents the estimated amortization expense with respect to CDI as of March 31, 2021 for the periods indicated (in thousands): Estimated Amortization Remainder of 2021 $ 4,860 2022 5,317 2023 3,814 2024 2,659 2025 1,575 Thereafter 1,490 $ 19,715 Mortgage Servicing Rights: Mortgage servicing rights are reported in other assets. Mortgage servicing rights are initially recorded at fair value and are amortized in proportion to, and over the period of, the estimated future net servicing income of the underlying financial assets. Mortgage servicing rights are subsequently evaluated for impairment based upon the fair value of the rights compared to the amortized cost (remaining unamortized initial fair value). If the fair value is less than the amortized cost, a valuation allowance is created through an impairment charge, which is recognized in servicing fee income within mortgage banking operations on the Consolidated Statement of Operations. However, if the fair value is greater than the amortized cost, the amount above the amortized cost is not recognized in the carrying value. During the three months ended March 31, 2021 and 2020, the Company did not record any impairment charges or recoveries against mortgage servicing rights. The unpaid principal balance for loans which mortgage servicing rights have been recorded totaled $2.65 billion and $2.64 billion at March 31, 2021 and December 31, 2020, respectively. Custodial accounts maintained in connection with this servicing totaled $3.7 million and $3.8 million at March 31, 2021 and December 31, 2020, respectively. An analysis of our mortgage servicing rights for the three months ended March 31, 2021 and 2020 is presented below (in thousands): Three Months Ended 2021 2020 Balance, beginning of the period $ 15,223 $ 14,148 Additions—amounts capitalized 2,010 1,420 Additions—through purchase 27 63 Amortization (1) (1,853) (1,354) Balance, end of the period (2) $ 15,407 $ 14,277 (1) Amortization of mortgage servicing rights is recorded as a reduction of loan servicing income within mortgage banking operations and any unamortized balance is fully amortized if the loan repays in full. (2) There was no valuation allowance as of both March 31, 2021 and 2020. |
REAL ESTATE OWNED, NET
REAL ESTATE OWNED, NET | 3 Months Ended |
Mar. 31, 2021 | |
Real Estate [Abstract] | |
REAL ESTATE OWNED, NET | REAL ESTATE OWNED, NET The following table presents the changes in REO for the three months ended March 31, 2021 and 2020 (in thousands): Three Months Ended 2021 2020 Balance, beginning of the period $ 816 $ 814 Additions from loan foreclosures — 1,588 Proceeds from dispositions of REO (783) — Gain on sale of REO 307 — Balance, end of the period $ 340 $ 2,402 REO properties are recorded at the estimated fair value of the property, less expected selling costs, establishing a new cost basis. Subsequently, REO properties are carried at the lower of the new cost basis or updated fair market values, based on updated appraisals of the underlying properties, as received. Valuation allowances on the carrying value of REO may be recognized based on updated appraisals or on management’s authorization to reduce the selling price of a property. The Company had no foreclosed one- to four-family residential real estate properties held as REO at March 31, 2021 or December 31, 2020. The Company had $609,000 of one- to four-family residential loans in the process of foreclosure at both March 31, 2021 and December 31, 2020. |
DEPOSITS
DEPOSITS | 3 Months Ended |
Mar. 31, 2021 | |
Banking and Thrift, Other Disclosures [Abstract] | |
DEPOSITS | DEPOSITS Deposits consisted of the following at March 31, 2021 and December 31, 2020 (in thousands): March 31, 2021 December 31, 2020 Non-interest-bearing accounts $ 5,994,693 $ 5,492,924 Interest-bearing checking 1,722,085 1,569,435 Regular savings accounts 2,597,731 2,398,482 Money market accounts 2,327,380 2,191,135 Total interest-bearing transaction and saving accounts 6,647,196 6,159,052 Certificates of deposit: Certificates of deposit less than or equal to $250,000 711,424 718,256 Certificates of deposit greater than $250,000 195,554 197,064 Total certificates of deposit (1) 906,978 915,320 Total deposits $ 13,548,867 $ 12,567,296 Included in total deposits: Public fund transaction and savings accounts $ 321,042 $ 302,875 Public fund interest-bearing certificates 51,021 59,127 Total public deposits $ 372,063 $ 362,002 Total brokered deposits $ — $ — (1) Certificates of deposit include $34,000 and $58,000 of acquisition premiums at March 31, 2021 and December 31, 2020, respectively. At March 31, 2021 and December 31, 2020, the Company had certificates of deposit of $200.8 million and $203.6 million, respectively, that were equal to or greater than $250,000. Scheduled maturities and weighted average interest rates of certificates of deposit at March 31, 2021 are as follows (dollars in thousands): March 31, 2021 Amount Weighted Average Rate Maturing in one year or less $ 705,004 0.71 % Maturing after one year through two years 116,565 1.29 Maturing after two years through three years 61,618 0.81 Maturing after three years through four years 13,244 1.89 Maturing after four years through five years 8,684 0.72 Maturing after five years 1,863 0.95 Total certificates of deposit $ 906,978 0.81 % |
FAIR VALUE OF FINANCIAL INSTRUM
FAIR VALUE OF FINANCIAL INSTRUMENTS | 3 Months Ended |
Mar. 31, 2021 | |
Fair Value Disclosures [Abstract] | |
FAIR VALUE ACCOUNTING AND MEASUREMENT | FAIR VALUE OF FINANCIAL INSTRUMENTS The following table presents estimated fair values of the Company’s financial instruments as of March 31, 2021 and December 31, 2020, whether or not measured at fair value in the Consolidated Statements of Financial Condition (dollars in thousands): March 31, 2021 December 31, 2020 Level Carrying Estimated Carrying Estimated Assets: Cash and cash equivalents 1 $ 1,649,927 $ 1,649,927 $ 1,234,183 $ 1,234,183 Securities—trading 3 25,039 25,039 24,980 24,980 Securities—available-for-sale 2 2,989,760 2,989,760 2,322,593 2,322,593 Securities—held-to-maturity 2 418,871 436,484 410,038 436,882 Securities—held-to-maturity 3 23,084 23,111 11,769 11,799 Loans held for sale 2 135,263 136,873 243,795 245,667 Loans receivable 3 9,947,697 9,967,242 9,870,982 9,810,293 FHLB stock 3 14,001 14,001 16,358 16,358 Bank-owned life insurance 1 191,388 191,388 191,830 191,830 Mortgage servicing rights 3 15,407 21,176 15,223 18,084 Derivatives: Interest rate swaps 2 25,246 25,246 39,066 39,066 Interest rate lock and forward sales commitments 2,3 6,186 6,186 5,641 5,641 Liabilities: Demand, interest checking and money market accounts 2 10,044,158 10,044,158 9,253,494 9,253,494 Regular savings 2 2,597,731 2,597,731 2,398,482 2,398,482 Certificates of deposit 2 906,978 910,069 915,320 919,920 FHLB advances 2 100,000 101,908 150,000 152,779 Other borrowings 2 216,260 216,260 184,785 184,785 Subordinated notes, net 3 98,290 98,290 98,201 98,201 Junior subordinated debentures 3 117,248 117,248 116,974 116,974 Derivatives: Interest rate swaps 2 17,923 17,923 22,336 22,336 Interest rate lock and forward sales commitments 2 85 85 1,755 1,755 The Company measures and discloses certain assets and liabilities at fair value. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (that is, not a forced liquidation or distressed sale). GAAP establishes a consistent framework for measuring fair value and disclosure requirements about fair value measurements. Among other things, the accounting standard requires the reporting entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company’s estimates for market assumptions. These two types of inputs create the following fair value hierarchy: • Level 1 – Quoted prices in active markets for identical instruments. An active market is a market in which transactions occur with sufficient frequency and volume to provide pricing information on an ongoing basis. A quoted price in an active market provides the most reliable evidence of fair value and shall be used to measure fair value whenever available. • Level 2 – Observable inputs other than Level 1 including quoted prices in active markets for similar instruments, quoted prices in less active markets for identical or similar instruments, or other observable inputs that can be corroborated by observable market data. • Level 3 – Unobservable inputs supported by little or no market activity for financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation; also includes observable inputs from non-binding single dealer quotes not corroborated by observable market data. In developing Level 3 measurements, management incorporates whatever market data might be available and uses discounted cash flow models where appropriate. These calculations include projections of future cash flows, including appropriate default and loss assumptions, and market-based discount rates The estimated fair value amounts of financial instruments have been determined by the Company using available market information and appropriate valuation methodologies. However, considerable judgment is required to interpret data to develop the estimates of fair value. Accordingly, the estimates presented herein are not necessarily indicative of the amounts the Company could realize at a future date. The use of different market assumptions and/or estimation methodologies may have a material effect on the estimated fair value amounts. In addition, reasonable comparability between financial institutions may not be likely due to the wide range of permitted valuation techniques and numerous estimates that must be made given the absence of active secondary markets for many of the financial instruments. This lack of uniform valuation methodologies also introduces a greater degree of subjectivity to these estimated fair values. Transfers between levels of the fair value hierarchy are deemed to occur at the end of the reporting period. Items Measured at Fair Value on a Recurring Basis: The following tables present financial assets and liabilities measured at fair value on a recurring basis and the level within the fair value hierarchy of the fair value measurements for those assets and liabilities as of March 31, 2021 and December 31, 2020 (in thousands): March 31, 2021 Level 1 Level 2 Level 3 Total Assets: Securities—trading Corporate bonds (Trust Preferred Securities) $ — $ — $ 25,039 $ 25,039 Securities—available-for-sale U.S. Government and agency obligations — 62,846 — 62,846 Municipal bonds — 300,735 — 300,735 Corporate bonds — 245,428 — 245,428 Mortgage-backed or related securities — 2,377,003 — 2,377,003 Asset-backed securities — 3,748 — 3,748 — 2,989,760 — 2,989,760 Loans held for sale — 59,993 — 59,993 Derivatives Interest rate swaps — 25,246 — 25,246 Interest rate lock and forward sales commitments — 3,249 2,937 6,186 $ — $ 3,078,248 $ 27,976 $ 3,106,224 Liabilities: Junior subordinated debentures $ — $ — $ 117,248 $ 117,248 Derivatives Interest rate swaps — 17,923 — 17,923 Interest rate lock and forward sales commitments — 85 — 85 $ — $ 18,008 $ 117,248 $ 135,256 December 31, 2020 Level 1 Level 2 Level 3 Total Assets: Securities—trading Corporate bonds (Trust Preferred Securities) $ — $ — $ 24,980 $ 24,980 Securities—available-for-sale U.S. Government and agency obligations — 141,735 — 141,735 Municipal bonds — 303,518 — 303,518 Corporate bonds — 221,769 — 221,769 Mortgage-backed securities — 1,646,152 — 1,646,152 Asset-backed securities — 9,419 — 9,419 — 2,322,593 — 2,322,593 Loans held for sale — 133,554 — 133,554 Derivatives Interest rate swaps — 39,066 — 39,066 Interest rate lock and forward sales commitments — 420 5,221 5,641 $ — $ 2,495,633 $ 30,201 $ 2,525,834 Liabilities: Junior subordinated debentures, net of unamortized deferred issuance costs $ — $ — $ 116,974 $ 116,974 Derivatives Interest rate swaps — 22,336 — 22,336 Interest rate lock and forward sales commitments — 1,755 — 1,755 $ — $ 24,091 $ 116,974 $ 141,065 The following methods were used to estimate the fair value of each class of financial instruments above: Securities: The estimated fair values of investment securities and mortgaged-backed securities are priced using current active market quotes, if available, which are considered Level 1 measurements. For most of the portfolio, matrix pricing based on the securities’ relationship to other benchmark quoted prices is used to establish the fair value. These measurements are considered Level 2. Due to the continued limited activity in the trust preferred markets that have limited the observability of market spreads for some of the Company’s TPS securities, management has classified these securities as a Level 3 fair value measure. Management periodically reviews the pricing information received from third-party pricing services and tests those prices against other sources to validate the reported fair values. Loans Held for Sale: Fair values for residential mortgage loans held for sale are determined by comparing actual loan rates to current secondary market prices for similar loans. Fair values for multifamily loans held for sale are calculated based on discounted cash flows using as a discount rate a combination of market spreads for similar loan types added to selected index rates. Mortgage Servicing Rights: Fair values are estimated based on an independent dealer analysis of discounted cash flows. The evaluation utilizes assumptions market participants would use in determining fair value including prepayment speeds, delinquency and foreclosure rates, the discount rate, servicing costs, and the timing of cash flows. The mortgage servicing portfolio is stratified by loan type and fair value estimates are adjusted up or down based on the serviced loan interest rates versus current rates on new loan originations since the most recent independent analysis. Junior Subordinated Debentures: The fair value of junior subordinated debentures is estimated using an income approach technique. The significant inputs included in the estimation of fair value are the credit risk adjusted spread and three month LIBOR. The credit risk adjusted spread represents the nonperformance risk of the liability. The Company utilizes an external valuation firm to validate the reasonableness of the credit risk adjusted spread used to determine the fair value. The junior subordinated debentures are carried at fair value which represents the estimated amount that would be paid to transfer these liabilities in an orderly transaction amongst market participants. Due to inactivity in the trust preferred markets that have limited the observability of market spreads, management has classified this as a Level 3 fair value measure. Derivatives: Derivatives include interest rate swap agreements, interest rate lock commitments to originate loans held for sale and forward sales contracts to sell loans and securities related to mortgage banking activities. Fair values for these instruments, which generally change as a result of changes in the level of market interest rates, are estimated based on dealer quotes and secondary market sources. Off-Balance Sheet Items: Off-balance sheet financial instruments include unfunded commitments to extend credit, including standby letters of credit, and commitments to purchase investment securities. The fair value of these instruments is not considered to be material. Limitations: The fair value estimates presented herein are based on pertinent information available to management as of March 31, 2021 and December 31, 2020. The factors used in the fair values estimates are subject to change subsequent to the dates the fair value estimates are completed, therefore, current estimates of fair value may differ significantly from the amounts presented herein. Assets and Liabilities Measured at Fair Value Using Significant Unobservable Inputs (Level 3): The following table provides a description of the valuation technique, unobservable inputs, and qualitative information about the unobservable inputs for certain of the Company’s assets and liabilities classified as Level 3 and measured at fair value on a recurring and non-recurring basis at March 31, 2021 and December 31, 2020: Weighted Average Rate / Range Financial Instruments Valuation Techniques Unobservable Inputs March 31, 2021 December 31, 2020 Corporate bonds (TPS securities) Discounted cash flows Discount rate 4.19 % 4.24 % Junior subordinated debentures Discounted cash flows Discount rate 4.19 % 4.24 % Loans individually evaluated Collateral valuations Discount to appraised value 8.5% to 20.0% 0.0% to 20.0% REO Appraisals Discount to appraised value 68.35 % 51.86 % Interest rate lock commitments Pricing model Pull-through rate 89.15 % 86.35 % TPS securities : Management believes that the credit risk-adjusted spread used to develop the discount rate utilized in the fair value measurement of TPS securities is indicative of the risk premium a willing market participant would require under current market conditions for instruments with similar contractual rates and terms and conditions and issuers with similar credit risk profiles and with similar expected probability of default. Management attributes the change in fair value of these instruments, compared to their par value, primarily to perceived general market adjustments to the risk premiums for these types of assets subsequent to their issuance. Junior subordinated debentures : Similar to the TPS securities discussed above, management believes that the credit risk-adjusted spread utilized in the fair value measurement of the junior subordinated debentures is indicative of the risk premium a willing market participant would require under current market conditions for an issuer with Banner’s credit risk profile. Management attributes the change in fair value of the junior subordinated debentures, compared to their par value, primarily to perceived general market adjustments to the risk premiums for these types of liabilities subsequent to their issuance. Future contractions in the risk adjusted spread relative to the spread currently utilized to measure the Company’s junior subordinated debentures at fair value as of March 31, 2021, or the passage of time, will result in negative fair value adjustments. At March 31, 2021, the discount rate utilized was based on a credit spread of 400 basis points and three-month LIBOR of 19 basis points. Interest rate lock commitments: The fair value of the interest rate lock commitments is based on secondary market sources adjusted for an estimated pull-through rate. The pull-through rate is based on historical loan closing rates for similar interest rate lock commitments. An increase or decrease in the pull-through rate would have a corresponding, positive or negative fair value adjustment. The following tables provide a reconciliation of the assets and liabilities measured at fair value using significant unobservable inputs (Level 3) on a recurring basis during the three months ended March 31, 2021 and 2020 (in thousands): Three Months Ended March 31, 2021 Level 3 Fair Value Inputs TPS Securities Borrowings—Junior Subordinated Debentures Interest Rate Lock Commitments Beginning balance $ 24,980 $ 116,974 $ 5,221 Total gains or losses recognized Assets gains (losses) 59 — (2,284) Liabilities losses — 274 — Ending balance at March 31, 2021 $ 25,039 $ 117,248 $ 2,937 Three Months Ended March 31, 2020 Level 3 Fair Value Inputs TPS Securities Borrowings—Junior Subordinated Debentures Interest Rate Lock Commitments Beginning balance $ 25,636 $ 119,304 $ 791 Total gains or losses recognized Assets (losses) gains (4,596) — 1,726 Liabilities gains — (19,509) — Ending balance at March 31, 2020 $ 21,040 $ 99,795 $ 2,517 Interest income and dividends from the TPS securities are recorded as a component of interest income. Interest expense related to the junior subordinated debentures is measured based on contractual interest rates and reported in interest expense. The change in fair value of the junior subordinated debentures, which represents changes in instrument specific credit risk, is recorded in other comprehensive income. See Note 13, Derivatives and Hedging, for detail on gains and losses on Level 3 interest rate lock commitments. Items Measured at Fair Value on a Non-recurring Basis: The following tables present financial assets measured at fair value on a non-recurring basis and the level within the fair value hierarchy of the fair value measurements for those assets as of March 31, 2021 and December 31, 2020 (in thousands): March 31, 2021 Level 1 Level 2 Level 3 Total Loans individually evaluated $ — $ — $ 627 $ 627 REO — — 340 340 December 31, 2020 Level 1 Level 2 Level 3 Total Loans individually evaluated $ — $ — $ 3,482 $ 3,482 REO — — 816 816 The following table presents the losses resulting from non-recurring fair value adjustments for the three months ended March 31, 2021 and 2020 (in thousands): Three Months Ended March 31, 2021 2020 Loans individually evaluated $ 302 $ — REO — — Total loss from non-recurring measurements $ 302 $ — Loans individually evaluated : Expected credit losses for loans evaluated individually are measured based on the present value of expected future cash flows discounted at the loan’s original effective interest rate or when the Bank determines that foreclosure is probable, the expected credit loss is measured based on the fair value of the collateral as of the reporting date, less estimated selling costs, as applicable. As a practical expedient, the Bank measures the expected credit loss for a loan using the fair value of the collateral, if repayment is expected to be provided substantially through the operation or sale of the collateral when the borrower is experiencing financial difficulty based on the Bank’s assessment as of the reporting date. In both cases, if the fair value of the collateral is less than the amortized cost basis of the loan, the Bank will recognize an allowance as the difference between the fair value of the collateral, less costs to sell (if applicable), at the reporting date and the amortized cost basis of the loan. If the fair value of the collateral exceeds the amortized cost basis of the loan, any expected recovery added to the amortized cost basis will be limited to the amount previously charged-off by the subsequent changes in the expected credit losses for loans evaluated individually are included within the provision for credit losses in the same manner in which the expected credit loss initially was recognized or as a reduction in the provision that would otherwise be reported. REO : The Company records REO (acquired through a lending relationship) at fair value on a non-recurring basis. Fair value adjustments on REO are based on updated real estate appraisals which are based on current market conditions. All REO properties are recorded at the lower of the estimated fair value of the real estate, less expected selling costs, or the carrying amount of the defaulted loans. From time to time, non-recurring fair value adjustments to REO are recorded to reflect partial write-downs based on an observable market price or current appraised value of property. Banner considers any valuation inputs related to REO to be Level 3 inputs. The individual carrying values of these assets are reviewed for impairment at least annually and any additional impairment charges are expensed to operations. |
INCOME TAXES AND DEFERRED TAXES
INCOME TAXES AND DEFERRED TAXES | 3 Months Ended |
Mar. 31, 2021 | |
Income Tax Disclosure [Abstract] | |
INCOME TAXES AND DEFERRED TAXES | INCOME TAXES AND DEFERRED TAXES The Company files a consolidated income tax return including all of its wholly-owned subsidiaries on a calendar year basis. Income taxes are accounted for using the asset and liability method. Under this method, a deferred tax asset or liability is determined based on the enacted tax rates which will be in effect when the differences between the financial statement carrying amounts and tax basis of existing assets and liabilities are expected to be reported in the Company’s income tax returns. The effect on deferred taxes of a change in tax rates is recognized in income in the period of change. A valuation allowance is recognized as a reduction to deferred tax assets when management determines it is more likely than not that deferred tax assets will not be available to offset future income tax liabilities. Accounting standards for income taxes prescribe a recognition threshold and measurement process for financial statement recognition and measurement of uncertain tax positions taken or expected to be taken in a tax return, and also provide guidance on the de-recognition of previously recorded benefits and their classification, as well as the proper recording of interest and penalties, accounting in interim periods, disclosures and transition. The Company periodically reviews its income tax positions based on tax laws and regulations and financial reporting considerations, and records adjustments as appropriate. This review takes into consideration the status of current taxing authorities’ examinations of the Company’s tax returns, recent positions taken by the taxing authorities on similar transactions, if any, and the overall tax environment. As of March 31, 2021, the Company has recognized $450,000 of unrecognized tax benefits for uncertain tax positions. The Company does not anticipate that there are additional uncertain tax positions or that any uncertain tax position which has not been recognized would materially affect the effective tax rate if recognized. The Company’s policy is to recognize interest and penalties on unrecognized tax benefits in the income tax expense. The Company files consolidated income tax returns in the U.S. federal jurisdiction and in the Oregon, California, Utah, Idaho and Montana state jurisdictions. Tax credit investments: The Company invests in low income housing tax credit funds that are designed to generate a return primarily through the realization of federal tax credits. The Company accounts for these investments by amortizing the cost of tax credit investments over the life of the investment using a proportional amortization method and tax credit investment amortization expense is a component of the provision for income taxes. The following table presents the balances of the Company’s tax credit investments and related unfunded commitments at March 31, 2021 and December 31, 2020 (in thousands): March 31, 2021 December 31, 2020 Tax credit investments $ 32,613 $ 33,528 Unfunded commitments—tax credit investments 15,383 18,306 The following table presents other information related to the Company’s tax credit investments for the three months ended March 31, 2021 and 2020 (in thousands): Three Months Ended March 31, 2021 2020 Tax credits and other tax benefits recognized $ 1,068 $ 1,007 Tax credit amortization expense included in provision for income taxes 915 809 |
CALCULATION OF WEIGHTED AVERAGE
CALCULATION OF WEIGHTED AVERAGE SHARES OUTSTANDING FOR EARNINGS PER SHARE (EPS) | 3 Months Ended |
Mar. 31, 2021 | |
Earnings Per Share [Abstract] | |
CALCULATION OF WEIGHTED AVERAGE SHARES OUTSTANDING FOR EARNINGS PER SHARE (EPS) | CALCULATION OF WEIGHTED AVERAGE SHARES OUTSTANDING FOR EARNINGS PER SHARE (EPS) The following table reconciles basic to diluted weighted average shares outstanding used to calculate earnings per share data for the three months ended March 31, 2021 and 2020 (in thousands, except shares and per share data): Three Months Ended 2021 2020 Net income $ 46,855 $ 16,882 Basic weighted average shares outstanding 34,973,383 35,463,541 Dilutive effect of unvested restricted stock 330,100 176,922 Diluted weighted shares outstanding 35,303,483 35,640,463 Earnings per common share Basic $ 1.34 $ 0.48 Diluted $ 1.33 $ 0.47 |
STOCK-BASED COMPENSATION PLANS
STOCK-BASED COMPENSATION PLANS | 3 Months Ended |
Mar. 31, 2021 | |
Share-based Payment Arrangement [Abstract] | |
STOCK-BASED COMPENSATION PLANS AND STOCK OPTIONS | STOCK-BASED COMPENSATION PLANS The Company operates the following stock-based compensation plans as approved by its shareholders: • 2014 Omnibus Incentive Plan (the 2014 Plan). • 2018 Omnibus Incentive Plan (the 2018 Plan). The purpose of these plans is to promote the success and enhance the value of the Company by providing a means for attracting and retaining highly skilled employees, officers and directors of Banner Corporation and its affiliates and linking their personal interests with those of the Company’s shareholders. Under these plans the Company currently has outstanding restricted stock share grants and restricted stock unit grants. 2014 Omnibus Incentive Plan The 2014 Plan was approved by shareholders on April 22, 2014. The 2014 Plan provides for the grant of incentive stock options, non-qualified stock options, stock appreciation rights, restricted stock, restricted stock units, performance shares, performance units, other stock-based awards and other cash awards, and provides for vesting requirements which may include time-based or performance-based conditions. The Company reserved 900,000 shares of its common stock for issuance under the 2014 Plan in connection with the exercise of awards. As of March 31, 2021, 300,015 restricted stock shares and 403,440 restricted stock units have been granted under the 2014 Plan of which 3,884 restricted stock shares and 148,093 restricted stock units are unvested. 2018 Omnibus Incentive Plan The 2018 Plan was approved by shareholders on April 24, 2018. The 2018 Plan provides for the grant of incentive stock options, non-qualified stock options, stock appreciation rights, restricted stock, restricted stock units, performance shares, performance units, other stock-based awards and other cash awards, and provides for vesting requirements which may include time-based or performance-based conditions. The Company reserved 900,000 shares of common stock for issuance under the 2018 Plan in connection with the exercise of awards. As of March 31, 2021, 503,955 restricted stock units have been granted under the 2018 Plan of which 417,555 restricted stock units are unvested. |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 3 Months Ended |
Mar. 31, 2021 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITMENTS AND CONTINGENCIES | COMMITMENTS AND CONTINGENCIES Financial Instruments with Off-Balance-Sheet Risk — The Company has financial instruments with off-balance-sheet risk generated in the normal course of business to meet the financing needs of our clients. These financial instruments include commitments to extend credit, commitments related to standby letters of credit, commitments to originate loans, commitments to sell loans, commitments to buy and sell securities. These instruments involve, to varying degrees, elements of credit and interest rate risk similar to the risk involved in on-balance-sheet items recognized in our Consolidated Statements of Financial Condition. Our exposure to credit loss in the event of nonperformance by the other party to the financial instrument from commitments to extend credit and standby letters of credit is represented by the contractual notional amount of those instruments. We use the same credit policies in making commitments and conditional obligations as for on-balance-sheet instruments. Outstanding commitments for which no asset or liability for the notional amount has been recorded consisted of the following at the dates indicated (in thousands): Contract or Notional Amount March 31, 2021 December 31, 2020 Commitments to extend credit $ 3,357,135 $ 3,207,072 Standby letters of credit and financial guarantees 21,493 18,415 Commitments to originate loans 134,759 101,426 Risk participation agreement 40,789 40,949 Derivatives also included in Note 14: Commitments to originate loans held for sale 165,236 169,653 Commitments to sell loans secured by one- to four-family residential properties 82,963 79,414 Commitments to sell securities related to mortgage banking activities 199,500 204,000 In addition to the commitments disclosed in the table above, the Company is committed to funding its’ unfunded tax credit investments (see Note 10, Income Taxes). During 2019, the Company entered into an agreement to invest $10 million in a limited partnership. The Company had funded $4.2 million of the commitment, with $5.8 million of the commitment remaining to be funded at March 31, 2021, compared to $2.8 million of the commitment funded, with $7.2 million to be funded at December 31, 2020. During the first quarter of 2021, the Company entered into an agreement to invest $4.5 million in another limited partnership. At March 31, 2021 the Company had not invested any funds pursuant to this commitment. Commitments to extend credit are agreements to lend to a client, as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Many of the commitments may expire without being drawn upon; therefore, the total commitment amounts do not necessarily represent future cash requirements. Each client’s creditworthiness is evaluated on a case-by-case basis. The amount of collateral obtained, if deemed necessary upon extension of credit, is based on management’s credit evaluation of the client. The type of collateral held varies, but may include accounts receivable, inventory, property, plant and equipment, and income producing commercial properties. The Company’s allowance for credit losses - unfunded loan commitments at March 31, 2021 and December 31, 2020 was $12.1 million and $13.3 million, respectively. Standby letters of credit are conditional commitments issued to guarantee a client’s performance or payment to a third party. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loan facilities to clients. Banner Bank has a risk participation agreement under which Banner Bank guarantees the financial performance of a borrower on the participated portion of an interest rate swap on a loan. Interest rates on residential one- to four-family mortgage loan applications are typically rate locked (committed) to clients during the application stage for periods ranging from 30 to 60 days, the most typical period being 45 days. Traditionally, these loan applications with rate lock commitments had the pricing for the sale of these loans locked with various qualified investors under a best-efforts delivery program at or near the time the interest rate is locked with the client. Banner Bank then attempts to deliver these loans before their rate locks expired. This arrangement generally required delivery of the loans prior to the expiration of the rate lock. Delays in funding the loans would require a lock extension. The cost of a lock extension at times was borne by the client and at times by Banner Bank. These lock extension costs have not had a material impact to the Company’s operations. For mandatory delivery commitments the Company enters into forward commitments at specific prices and settlement dates to deliver either: (1) residential mortgage loans for purchase by secondary market investors (i.e., Freddie Mac or Fannie Mae), or (2) mortgage-backed securities to broker/dealers. The purpose of these forward commitments is to offset the movement in interest rates between the execution of its residential mortgage rate lock commitments with borrowers and the sale of those loans to the secondary market investor. There were no counterparty default losses on forward contracts during the three months ended March 31, 2021 or March 31, 2020. Market risk with respect to forward contracts arises principally from changes in the value of contractual positions due to changes in interest rates. The Company limits its exposure to market risk by monitoring differences between commitments to clients and forward contracts with market investors and securities broker/dealers. In the event the Company has forward delivery contract commitments in excess of available mortgage loans, the transaction is completed by either paying or receiving a fee to or from the investor or broker/dealer equal to the increase or decrease in the market value of the forward contract. In the normal course of business, the Company and/or its subsidiaries have various legal proceedings and other contingent matters outstanding. These proceedings and the associated legal claims are often contested and the outcome of individual matters is not always predictable. These claims and counter-claims typically arise during the course of collection efforts on problem loans or with respect to action to enforce liens on properties in which the Bank holds a security interest. Based upon the information known to management at this time, the Company and the Bank are not a party to any legal proceedings that management believes would have a material adverse effect on the results of operations or consolidated financial position at March 31, 2021. In connection with certain asset sales, the Bank typically makes representations and warranties about the underlying assets conforming to specified guidelines. If the underlying assets do not conform to the specifications, the Bank may have an obligation to repurchase the assets or indemnify the purchaser against any loss. The Bank believes that the potential for material loss under these arrangements is remote. Accordingly, the fair value of such obligations is not material. |
DERIVATIVES AND HEDGING
DERIVATIVES AND HEDGING | 3 Months Ended |
Mar. 31, 2021 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
DERIVATIVES AND HEDGING | DERIVATIVES AND HEDGING The Company, through its Banner Bank subsidiary, is party to various derivative instruments that are used for asset and liability management and client financing needs. Derivative instruments are contracts between two or more parties that have a notional amount and an underlying variable, require no net investment and allow for the net settlement of positions. The notional amount serves as the basis for the payment provision of the contract and takes the form of units, such as shares or dollars. The underlying variable represents a specified interest rate, index, or other component. The interaction between the notional amount and the underlying variable determines the number of units to be exchanged between the parties and influences the market value of the derivative contract. The Company obtains dealer quotations to value its derivative contracts. The Company’s predominant derivative and hedging activities involve interest rate swaps related to certain term loans and forward sales contracts associated with mortgage banking activities. Generally, these instruments help the Company manage exposure to market risk and meet client financing needs. Market risk represents the possibility that economic value or net interest income will be adversely affected by fluctuations in external factors such as market-driven interest rates and prices or other economic factors. Derivatives Designated in Hedge Relationships The Company’s fixed-rate loans result in exposure to losses in value or net interest income as interest rates change. The risk management objective for hedging fixed-rate loans is to effectively convert the fixed-rate received to a floating rate. The Company has hedged exposure to changes in the fair value of certain fixed-rate loans through the use of interest rate swaps. For a qualifying fair value hedge, changes in the value of the derivatives are recognized in current period earnings along with the corresponding changes in the fair value of the designated hedged item attributable to the risk being hedged. Under a prior program, clients received fixed interest rate commercial loans and Banner Bank subsequently hedged that fixed-rate loan by entering into an interest rate swap with a dealer counterparty. Banner Bank receives fixed-rate payments from the clients on the loans and makes similar fixed-rate payments to the dealer counterparty on the swaps in exchange for variable-rate payments based on the one-month LIBOR index. Some of these interest rate swaps are designated as fair value hedges. Through application of the “short cut method of accounting,” there is an assumption that the hedges are effective. Banner Bank discontinued originating interest rate swaps under this program in 2008. As of March 31, 2021 and December 31, 2020, the notional values or contractual amounts and fair values of the Company’s derivatives designated in hedge relationships were as follows (in thousands): Asset Derivatives Liability Derivatives March 31, 2021 December 31, 2020 March 31, 2021 December 31, 2020 Notional/ Fair Value (1) Notional/ Fair Value (1) Notional/ Fair Value (2) Notional/ Fair Value (2) Interest rate swaps $ 248 $ 5 $ 338 $ 9 $ 248 $ 5 $ 338 $ 9 (1) Included in Loans receivable on the Consolidated Statements of Financial Condition. (2) Included in Accrued expenses and other liabilities on the Consolidated Statements of Financial Condition. Derivatives Not Designated in Hedge Relationships Interest Rate Swaps: Banner Bank uses an interest rate swap program for commercial loan clients that provides the client with a variable-rate loan and enters into an interest rate swap in which the client receives a variable-rate payment in exchange for a fixed-rate payment. The Bank offsets its risk exposure by entering into an offsetting interest rate swap with a dealer counterparty for the same notional amount and length of term as the client interest rate swap providing the dealer counterparty with a fixed-rate payment in exchange for a variable-rate payment. These swaps do not qualify as designated hedges; therefore, each swap is accounted for as a free standing derivative. Mortgage Banking: The Company sells originated one- to four-family mortgage loans into the secondary mortgage loan markets. During the period of loan origination and prior to the sale of the loans in the secondary market, the Company has exposure to movements in interest rates associated with written interest rate lock commitments with potential borrowers to originate one- to four-family loans that are intended to be sold and for closed one- to four-family mortgage loans held for sale, for which fair value accounting has been elected, that are awaiting sale and delivery into the secondary market. The Company economically hedges the risk of changing interest rates associated with these mortgage loan commitments by entering into forward sales contracts to sell one- to four-family mortgage loans or mortgage-backed securities to broker/dealers at specific prices and dates. As of March 31, 2021 and December 31, 2020, the notional values or contractual amounts and fair values of the Company’s derivatives not designated in hedge relationships were as follows (in thousands): Asset Derivatives Liability Derivatives March 31, 2021 December 31, 2020 March 31, 2021 December 31, 2020 Notional/ Fair Value (1) Notional/ Fair Value (1) Notional/ Fair Value (2) Notional/ Fair Value (2) Interest rate swaps $ 458,118 $ 25,241 $ 451,760 $ 39,057 $ 458,118 $ 17,918 $ 451,760 $ 22,327 Mortgage loan commitments 139,668 2,937 140,390 5,221 62,267 85 72,511 199 Forward sales contracts 282,463 3,249 79,414 420 — — 204,000 1,556 $ 880,249 $ 31,427 $ 671,564 $ 44,698 $ 520,385 $ 18,003 $ 728,271 $ 24,082 (1) Included in Other assets on the Consolidated Statements of Financial Condition, with the exception of certain interest swaps and mortgage loan commitments (with a fair value of $246,000 at March 31, 2021 and $231,000 at December 31, 2020), which are included in Loans receivable. (2) Included in Accrued expenses and other liabilities on the Consolidated Statements of Financial Condition. Gains (losses) recognized in income on derivatives not designated in hedge relationships for the three months ended March 31, 2021 and 2020 were as follows (in thousands): Location on Consolidated Three Months Ended 2021 2020 Mortgage loan commitments Mortgage banking operations $ (2,284) $ 1,726 Forward sales contracts Mortgage banking operations 3,011 (3,068) $ 727 $ (1,342) The Company is exposed to credit-related losses in the event of nonperformance by the counterparty to these agreements. Credit risk of the financial contract is controlled through the credit approval, limits, and monitoring procedures and management does not expect the counterparties to fail their obligations. In connection with the interest rate swaps between Banner Bank and the dealer counterparties, the agreements contain a provision where if Banner Bank fails to maintain its status as a well/adequately capitalized institution, then the counterparty could terminate the derivative positions and Banner Bank would be required to settle its obligations. Similarly, Banner Bank could be required to settle its obligations under certain of its agreements if specific regulatory events occur, such as a publicly issued prompt corrective action directive, cease and desist order, or a capital maintenance agreement that required Banner Bank to maintain a specific capital level. If Banner Bank had breached any of these provisions at March 31, 2021 or December 31, 2020, it could have been required to settle its obligations under the agreements at the termination value. As of March 31, 2021 and December 31, 2020, the termination value of derivatives in a net liability position related to these agreements was $24.1 million and $48.6 million, respectively. The Company generally posts collateral against derivative liabilities in the form of cash, government agency-issued bonds, mortgage-backed securities, or commercial mortgage-backed securities. Collateral posted against derivative liabilities was $55.7 million and $47.1 million as of March 31, 2021 and December 31, 2020, respectively. Derivative assets and liabilities are recorded at fair value on the balance sheet. Master netting agreements allow the Company to settle all derivative contracts held with a single counterparty on a net basis and to offset net derivative positions with related collateral where applicable. In addition, some of interest rate swap derivatives between Banner Bank and the dealer counterparties are cleared through central clearing houses. These clearing houses characterize the variation margin payments as settlements of the derivative’s market exposure and not as collateral. The variation margin is treated as an adjustment to our cash collateral, as well as a corresponding adjustment to our derivative liability. As of March 31, 2021 and December 31, 2020, the variation margin adjustment was a negative adjustment of $6.0 million and $16.9 million, respectively. The following tables present additional information related to the Company’s derivative contracts, by type of financial instrument, as of March 31, 2021 and December 31, 2020 (in thousands): March 31, 2021 Gross Amounts of Financial Instruments Not Offset in the Consolidated Statements of Financial Condition Gross Amounts Recognized Amounts offset Net Amounts Netting Adjustment Per Applicable Master Netting Agreements Fair Value Net Amount Derivative assets Interest rate swaps $ 25,246 $ — $ 25,246 $ — $ — $ 25,246 $ 25,246 $ — $ 25,246 $ — $ — $ 25,246 Derivative liabilities Interest rate swaps $ 23,877 $ (5,954) $ 17,923 $ — $ (12,881) $ 5,042 $ 23,877 $ (5,954) $ 17,923 $ — $ (12,881) $ 5,042 December 31, 2020 Gross Amounts of Financial Instruments Not Offset in the Consolidated Statements of Financial Condition Gross Amounts Recognized Amounts offset Net Amounts Netting Adjustment Per Applicable Master Netting Agreements Fair Value Net Amount Derivative assets Interest rate swaps $ 39,066 $ — $ 39,066 $ — $ — $ 39,066 $ 39,066 $ — $ 39,066 $ — $ — $ 39,066 Derivative liabilities Interest rate swaps $ 39,204 $ (16,868) $ 22,336 $ — $ (22,220) $ 116 $ 39,204 $ (16,868) $ 22,336 $ — $ (22,220) $ 116 |
REVENUE FROM CONTRACTS WITH CUS
REVENUE FROM CONTRACTS WITH CUSTOMERS | 3 Months Ended |
Mar. 31, 2021 | |
Revenue from Contract with Customer [Abstract] | |
Revenue from Contract with Customer [Text Block] | REVENUE FROM CONTRACTS WITH CLIENTS Disaggregation of Revenue: Deposit fees and other service charges for the three months ended March 31, 2021 and 2020 are summarized as follows (in thousands): Three Months Ended 2021 2020 Deposit service charges $ 4,113 $ 4,832 Debit and credit card interchange fees 5,290 4,884 Debit and credit card expense (2,520) (1,932) Merchant services income 3,142 3,002 Merchant services expense (2,532) (2,436) Other service charges 1,446 1,453 Total deposit fees and other service charges $ 8,939 $ 9,803 Deposit fees and other service charges Deposit fees and other service charges include transaction and non-transaction based deposit fees. Transaction based fees on deposit accounts are charged to deposit clients for specific services provided to the client. These fees include such items as wire fees, official check fees, and overdraft fees. These are contract specific to each individual transaction and do not extend beyond the individual transaction. The performance obligation is completed and the fees are recognized at the time the specific transactional service is provided to the client. Non-transactional deposit fees are typically monthly account maintenance fees charged on deposit accounts. These are day-to-day contracts that can be canceled by either party without notice. The performance obligation is satisfied and the fees are recognized on a monthly basis after the service period is completed. Debit and credit card interchange income and expenses Debit and credit card interchange income represent fees earned when a debit or credit card issued by the Bank is used to purchase goods or services at a merchant. The merchant’s bank pays the Bank a default interchange rate set by MasterCard on a transaction by transaction basis. The merchant acquiring bank can stop accepting the Bank’s cards at any time and the Bank can stop further use of cards issued by them at any time. The performance obligation is satisfied and the fees are earned when the cost of the transaction is charged to the Bank’s cardholders’ card. Direct expenses associated with the credit and debit card are recorded as a net reduction against the interchange income. Merchant services income Merchant services income represents fees earned by the Bank for card payment services provided to its merchant clients. The Bank has a contract with a third party to provide card payment services to the Bank’s merchants that contract for those services. The third party provider has contracts with the Bank’s merchants to provide the card payment services. The Bank does not have a direct contractual relationship with its merchants for these services. The Bank sets the rates for the services provided by the third party. The third party provider passes the payments made by the Bank’s merchants through to the Bank. The Bank, in turn, pays the third party provider for the services it provides to the Bank’s merchants. These payments to the third party provider are recorded as expenses as a net reduction against fee income. In addition, a portion of the payment received by the Bank represents interchange fees which are passed through to the card issuing bank. Income is primarily earned based on the dollar volume and number of transactions processed. The performance obligation is satisfied and the related fee is earned when each payment is accepted by the processing network. |
BASIS OF PRESENTATION AND SIG_2
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Policies) | 3 Months Ended |
Mar. 31, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Accounting | The accompanying unaudited condensed consolidated financial statements include the accounts of Banner Corporation (the Company or Banner), a bank holding company incorporated in the State of Washington and its wholly-owned subsidiary, Banner Bank (the Bank). These unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (GAAP) for interim financial information and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X as promulgated by the Securities and Exchange Commission (SEC). In preparing these financial statements, the Company has evaluated events and transactions subsequent to March 31, 2021 for potential recognition or disclosure. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation of the financial position and results of operations for the periods presented have been included. Certain information and note disclosures have been condensed or omitted pursuant to the rules and regulations of the SEC and the accounting standards for interim financial statements. Certain reclassifications have been made to the 2020 Consolidated Financial Statements and/or schedules to conform to the 2021 presentation. Prior to the first quarter of 2021, the (recapture) provision for credit losses - unfunded loan commitment was recorded as non-interest expense, beginning in the first quarter of 2021 the (recapture) provision for credit losses - unfunded loan commitment is recorded as a component of the provision for credit losses. These reclassifications may have affected certain ratios for the prior periods. The effect of these reclassifications is considered immaterial. All significant intercompany transactions and balances have been eliminated. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect amounts reported in the financial statements. Various elements of the Company’s accounting policies, by their nature, are inherently subject to estimation techniques, valuation assumptions and other subjective assessments. In particular, management has identified several accounting policies that, due to the judgments, estimates and assumptions inherent in those policies, are significant to an understanding of Banner’s financial statements. These policies relate to (i) the methodology for the recognition of interest income, (ii) determination of the provision and allowance for credit losses, (iii) the valuation of financial assets and liabilities recorded at fair value (iv) the valuation of intangibles, such as goodwill, core deposit intangibles (CDI) and mortgage servicing rights, (v) the valuation of real estate held for sale, (vi) the valuation of assets acquired and liabilities assumed in business combinations and subsequent recognition of related income and expense, and (vii) the valuation or recognition of deferred tax assets and liabilities. These policies and judgments, estimates and assumptions are described in greater detail in subsequent notes to the Consolidated Financial Statements and Management’s Discussion and Analysis of Financial Condition and Results of Operations (Critical Accounting Policies) in our Annual Report on Form 10-K for the year ended December 31, 2020 filed with the SEC (2020 Form 10-K). There have been no significant changes in our application of these accounting policies during the first three months of 2021. The information included in this Form 10-Q should be read in conjunction with our 2020 Form 10-K. Interim results are not necessarily indicative of results for a full year or any other interim period. |
SECURITIES (Tables)
SECURITIES (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Investments, Debt and Equity Securities [Abstract] | |
Schedule of Securities | The amortized cost, gross unrealized gains and losses and estimated fair value of securities at March 31, 2021 and December 31, 2020 are summarized as follows (in thousands): March 31, 2021 Amortized Cost Fair Trading: Corporate bonds $ 27,203 $ 25,039 $ 27,203 $ 25,039 March 31, 2021 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Allowance for Credit Losses Fair Available-for-Sale: U.S. Government and agency obligations $ 62,922 $ 740 $ (816) $ — $ 62,846 Municipal bonds 287,685 14,378 (1,328) — 300,735 Corporate bonds 243,428 2,290 (290) — 245,428 Mortgage-backed or related securities 2,399,117 28,710 (50,824) — 2,377,003 Asset-backed securities 3,750 — (2) — 3,748 $ 2,996,902 $ 46,118 $ (53,260) $ — $ 2,989,760 March 31, 2021 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Allowance for Credit Losses Held-to-Maturity: U.S. Government and agency obligations $ 339 $ 6 $ — $ 345 $ — Municipal bonds 381,136 17,740 (1,481) 397,395 (61) Corporate bonds 3,190 — (7) 3,183 (37) Mortgage-backed or related securities 57,290 1,668 (286) 58,672 — $ 441,955 $ 19,414 $ (1,774) $ 459,595 $ (98) December 31, 2020 Amortized Cost Fair Trading: Corporate bonds $ 27,203 $ 24,980 $ 27,203 $ 24,980 December 31, 2020 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Allowance for Credit Losses Fair Value Available-for-Sale: U.S. Government and agency obligations $ 141,668 $ 1,002 $ (935) $ — $ 141,735 Municipal bonds 283,997 19,523 (2) — 303,518 Corporate bonds 219,086 2,762 (79) — 221,769 Mortgage-backed or related securities 1,602,033 45,179 (1,060) — 1,646,152 Asset-backed securities 9,405 77 (63) — 9,419 $ 2,256,189 $ 68,543 $ (2,139) $ — $ 2,322,593 December 31, 2020 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Allowance for Credit Losses Held-to-Maturity: U.S. Government and agency obligations $ 340 $ 7 $ — $ 347 $ — Municipal bonds 370,998 24,130 (94) 395,034 (59) Corporate bonds 3,222 — (12) 3,210 (35) Mortgage-backed or related securities 47,247 2,843 — 50,090 — $ 421,807 $ 26,980 $ (106) $ 448,681 $ (94) |
Schedule of Securities with Continuous Loss Position | At March 31, 2021 and December 31, 2020, the gross unrealized losses and the fair value for securities available-for-sale aggregated by the length of time that individual securities have been in a continuous unrealized loss position were as follows (in thousands): March 31, 2021 Less Than 12 Months 12 Months or More Total Fair Unrealized Losses Fair Unrealized Losses Fair Unrealized Losses Available-for-Sale: U.S. Government and agency obligations $ 3,090 $ (10) $ 43,952 $ (806) $ 47,042 $ (816) Municipal bonds 50,710 (1,232) 8,403 (96) 59,113 (1,328) Corporate bonds 24,406 (286) 996 (4) 25,402 (290) Mortgage-backed or related securities 863,848 (34,608) 501,048 (16,216) 1,364,896 (50,824) Asset-backed securities 3,748 (2) — — 3,748 (2) $ 945,802 $ (36,138) $ 554,399 $ (17,122) $ 1,500,201 $ (53,260) December 31, 2020 Less Than 12 Months 12 Months or More Total Fair Unrealized Losses Fair Unrealized Losses Fair Unrealized Losses Available-for-Sale: U.S. Government and agency obligations $ 3,126 $ (8) $ 50,603 $ (927) $ 53,729 $ (935) Municipal bonds 495 (2) — — 495 (2) Corporate bonds 3,586 (79) — — 3,586 (79) Mortgage-backed or related securities 181,871 (1,046) 2,337 (14) 184,208 (1,060) Asset-backed securities — — 5,676 (63) 5,676 (63) $ 189,078 $ (1,135) $ 58,616 $ (1,004) $ 247,694 $ (2,139) |
Schedule of Realized Gain (Loss) | The following table presents gross gains and losses on sales of securities available-for-sale (in thousands): Three Months Ended 2021 2020 Available-for-Sale: Gross Gains $ 595 $ 78 Gross Losses (110) — Balance, end of the period $ 485 $ 78 |
Schedule of Securities by Contractual Maturity Date | The amortized cost and estimated fair value of securities at March 31, 2021, by contractual maturity, are shown below (in thousands). Expected maturities will differ from contractual maturities because some securities may be called or prepaid with or without call or prepayment penalties. March 31, 2021 Trading Available-for-Sale Held-to-Maturity Amortized Fair Amortized Fair Amortized Fair Maturing in one year or less $ — $ — $ 158,605 $ 158,816 $ 5,609 $ 5,671 Maturing after one year through five years — — 178,983 187,427 54,888 57,069 Maturing after five years through ten years — — 680,138 675,201 33,435 35,387 Maturing after ten years through twenty years 27,203 25,039 276,682 285,450 152,353 155,651 Maturing after twenty years — — 1,702,494 1,682,866 195,670 205,817 $ 27,203 $ 25,039 $ 2,996,902 $ 2,989,760 $ 441,955 $ 459,595 |
Schedule of Pledged Securities | The following table presents, as of March 31, 2021, investment securities which were pledged to secure borrowings, public deposits or other obligations as permitted or required by law (in thousands): March 31, 2021 Carrying Value Amortized Cost Fair Purpose or beneficiary: State and local governments public deposits $ 206,699 $ 205,752 $ 218,842 Interest rate swap counterparties 28,385 27,749 28,550 Repurchase agreements 245,018 250,440 245,018 Other 2,588 2,588 2,648 Total pledged securities $ 482,690 $ 486,529 $ 495,058 |
Debt Instrument, Credit Rating | The Company monitors the credit quality of held-to-maturity debt securities through the use of credit rating. Credit ratings are reviewed and updated quarterly. The following table summarizes the amortized cost of held-to-maturity debt securities by credit rating at March 31, 2021 and December 31, 2020 (in thousands): March 31, 2021 U.S. Government and agency obligations Municipal bonds Corporate bonds Mortgage-backed or related securities Total AAA/AA/A $ — $ 349,687 $ 500 $ — $ 350,187 Not Rated 339 31,449 2,690 57,290 91,768 $ 339 $ 381,136 $ 3,190 $ 57,290 $ 441,955 December 31, 2020 U.S. Government and agency obligations Municipal bonds Corporate bonds Mortgage-backed or related securities Total AAA/AA/A $ — $ 349,123 $ 500 $ — $ 349,623 Not Rated 340 21,875 2,722 47,247 72,184 $ 340 $ 370,998 $ 3,222 $ 47,247 $ 421,807 |
Debt Securities, Held-to-maturity, Allowance for Credit Loss | The following table presents the activity in the allowance for credit losses for held-to-maturity debt securities by major type for the three months ended March 31, 2021 and March 31, 2020 (in thousands): For the Three Months Ended March 31, 2021 U.S. Government and agency obligations Municipal bonds Corporate bonds Mortgage-backed or related securities Total Allowance for credit losses - securities Beginning Balance $ — $ 59 $ 35 $ — $ 94 Provision for credit losses — 2 2 — 4 Ending Balance $ — $ 61 $ 37 $ — $ 98 For the Three Months Ended March 31, 2020 U.S. Government and agency obligations Municipal bonds Corporate bonds Mortgage-backed or related securities Total Allowance for credit losses - securities Beginning Balance $ — $ — $ — $ — $ — Impact of adopting ASC 326 — 28 35 — 63 Provision for credit losses — 33 2 — 35 Ending Balance $ — $ 61 $ 37 $ — $ 98 |
LOANS RECEIVABLE AND THE ALLO_2
LOANS RECEIVABLE AND THE ALLOWANCE FOR CREDIT LOSSES (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Receivables [Abstract] | |
Schedule of Loans Receivable, Including Loans Held for Sale | at March 31, 2021 and December 31, 2020 by class (dollars in thousands). March 31, 2021 December 31, 2020 Amount Percent of Total Amount Percent of Total Commercial real estate: Owner-occupied $ 1,045,656 10.5 % $ 1,076,467 10.9 % Investment properties 1,931,805 19.4 1,955,684 19.8 Small balance CRE 639,330 6.4 573,849 5.8 Multifamily real estate 433,775 4.3 428,223 4.4 Construction, land and land development: Commercial construction 199,037 2.0 228,937 2.3 Multifamily construction 305,694 3.1 305,527 3.1 One- to four-family construction 542,840 5.5 507,810 5.1 Land and land development 266,730 2.7 248,915 2.5 Commercial business: Commercial business (1) 2,376,594 23.9 2,178,461 22.1 Small business scored 717,502 7.2 743,451 7.5 Agricultural business, including secured by farmland (2) 262,410 2.6 299,949 3.0 One- to four-family residential 655,627 6.6 717,939 7.3 Consumer: Consumer—home equity revolving lines of credit 466,132 4.7 491,812 5.0 Consumer—other 104,565 1.1 113,958 1.2 Total loans 9,947,697 100.0 % 9,870,982 100.0 % Less allowance for credit losses - loans (156,054) (167,279) Net loans $ 9,791,643 $ 9,703,703 (1) Includes $1.28 billion and $1.04 billion of U.S. Small Business Administration (SBA) Paycheck Protection Program (PPP) loans as of March 31, 2021 and December 31, 2020, respectively. (2) Includes $36.3 million of PPP loans as of March 31, 2021 and none as of December 31, 2020. |
Schedule of Troubled Debt Restructurings | The following table presents new TDRs that occurred during the three months ended March 31, 2020 (dollars in thousands): Three months ended March 31, 2020 Number of Pre- Post- Recorded Investment Commercial business: Commercial business 2 4,796 4,796 Total 2 $ 4,796 $ 4,796 |
Schedule of Risk-Rated Loans and Non-Risk Rated Loans by Grade and Other Characteristics | The following tables present the Company’s portfolio of risk-rated loans by class and by grade as of March 31, 2021 and December 31, 2020 (in thousands). Revolving loans that are converted to term loans are treated as new originations in the table below and are presented by year of origination. Term loans that are renewed or extended for periods longer than 90 days are presented as a new origination in the year of the most recent renewal or extension. March 31, 2021 Term Loans by Year of Origination Revolving Loans Total Loans By class: 2021 2020 2019 2018 2017 Prior Commercial real estate - owner occupied Risk Rating Pass $ 39,192 $ 236,836 $ 158,294 $ 147,397 $ 98,352 $ 266,316 $ 5,455 $ 951,842 Special Mention — — 16,835 — 2,217 87 — 19,139 Substandard 45 7,096 24,526 2,329 2,311 38,368 — 74,675 Doubtful — — — — — — — — Loss — — — — — — — — Total Commercial real estate - owner occupied $ 39,237 $ 243,932 $ 199,655 $ 149,726 $ 102,880 $ 304,771 $ 5,455 $ 1,045,656 Commercial real estate - investment properties Risk Rating Pass $ 41,181 $ 238,095 $ 260,934 $ 284,975 $ 226,762 $ 711,557 $ 20,001 $ 1,783,505 Special Mention — — — — — 11,079 — 11,079 Substandard 422 28,529 11,383 20,864 36,212 39,811 — 137,221 Doubtful — — — — — — — — Loss — — — — — — — — Total Commercial real estate - investment properties $ 41,603 $ 266,624 $ 272,317 $ 305,839 $ 262,974 $ 762,447 $ 20,001 $ 1,931,805 Multifamily real estate Risk Rating Pass $ 16,005 $ 76,245 $ 71,073 $ 37,683 $ 93,037 $ 133,912 $ 2,080 $ 430,035 Special Mention — — — — — — — — Substandard — 2,312 1,428 — — — — 3,740 Doubtful — — — — — — — — Loss — — — — — — — — Total Multifamily real estate $ 16,005 $ 78,557 $ 72,501 $ 37,683 $ 93,037 $ 133,912 $ 2,080 $ 433,775 March 31, 2021 Term Loans by Year of Origination Revolving Loans Total Loans By class: 2021 2020 2019 2018 2017 Prior Commercial construction Risk Rating Pass $ 4,182 $ 94,483 $ 42,572 $ 38,566 $ 332 $ 527 $ — $ 180,662 Special Mention — — 5,967 — — — — 5,967 Substandard 3,507 — 3,938 4,865 — 98 — 12,408 Doubtful — — — — — — — — Loss — — — — — — — — Total Commercial construction $ 7,689 $ 94,483 $ 52,477 $ 43,431 $ 332 $ 625 $ — $ 199,037 Multifamily construction Risk Rating Pass $ 26,801 $ 84,144 $ 128,336 $ 51,514 $ 14,899 $ — $ — $ 305,694 Special Mention — — — — — — — — Substandard — — — — — — — — Doubtful — — — — — — — — Loss — — — — — — — — Total Multifamily construction $ 26,801 $ 84,144 $ 128,336 $ 51,514 $ 14,899 $ — $ — $ 305,694 One- to four- family construction Risk Rating Pass $ 204,174 $ 324,068 $ 10,374 $ — $ — $ — $ 3,537 $ 542,153 Special Mention — — — — — — — — Substandard 356 — 331 — — — — 687 Doubtful — — — — — — — — Loss — — — — — — — — Total One- to four- family construction $ 204,530 $ 324,068 $ 10,705 $ — $ — $ — $ 3,537 $ 542,840 March 31, 2021 Term Loans by Year of Origination Revolving Loans Total Loans By class: 2021 2020 2019 2018 2017 Prior Land and land development Risk Rating Pass $ 50,665 $ 141,075 $ 26,180 $ 12,004 $ 6,567 $ 10,249 $ 16,751 $ 263,491 Special Mention — — — — — — — — Substandard 2,869 14 28 141 187 — — 3,239 Doubtful — — — — — — — — Loss — — — — — — — — Total Land and land development $ 53,534 $ 141,089 $ 26,208 $ 12,145 $ 6,754 $ 10,249 $ 16,751 $ 266,730 Commercial business Risk Rating Pass $ 440,419 $ 1,103,935 $ 211,237 $ 191,647 $ 62,188 $ 100,296 $ 211,777 $ 2,321,499 Special Mention 75 96 3,184 — 752 104 10,487 14,698 Substandard 2,235 3,620 4,912 18,140 4,860 1,583 5,047 40,397 Doubtful — — — — — — — — Loss — — — — — — — — Total Commercial business $ 442,729 $ 1,107,651 $ 219,333 $ 209,787 $ 67,800 $ 101,983 $ 227,311 $ 2,376,594 Agricultural business including secured by farmland Risk Rating Pass $ 12,322 $ 31,316 $ 55,503 $ 29,215 $ 20,206 $ 44,027 $ 61,005 $ 253,594 Special Mention — — — — 810 — — 810 Substandard — 445 2,548 803 144 2,175 1,891 8,006 Doubtful — — — — — — — — Loss — — — — — — — — Total Agricultural business including secured by farmland $ 12,322 $ 31,761 $ 58,051 $ 30,018 $ 21,160 $ 46,202 $ 62,896 $ 262,410 December 31, 2020 Term Loans by Year of Origination Revolving Loans Total Loans By class: 2020 2019 2018 2017 2016 Prior Commercial real estate - owner occupied Risk Rating Pass $ 243,100 $ 156,838 $ 156,817 $ 122,484 $ 92,312 $ 212,792 $ 3,379 $ 987,722 Special Mention — 4,560 — 2,251 — 1,869 149 8,829 Substandard 7,923 26,914 3,040 2,516 11,731 27,792 — 79,916 Doubtful — — — — — — — — Loss — — — — — — — — Total Commercial real estate - owner occupied $ 251,023 $ 188,312 $ 159,857 $ 127,251 $ 104,043 $ 242,453 $ 3,528 $ 1,076,467 Commercial real estate - investment properties Risk Rating Pass $ 237,553 $ 262,543 $ 299,452 $ 218,018 $ 278,348 $ 502,914 $ 20,062 $ 1,818,890 Special Mention — 2,712 — — 2,730 1,856 — 7,298 Substandard 19,812 11,418 20,352 36,310 23,027 18,577 — 129,496 Doubtful — — — — — — — — Loss — — — — — — — — Total Commercial real estate - investment properties $ 257,365 $ 276,673 $ 319,804 $ 254,328 $ 304,105 $ 523,347 $ 20,062 $ 1,955,684 Multifamily real estate Risk Rating Pass $ 78,632 $ 69,825 $ 39,343 $ 93,442 $ 44,395 $ 96,863 $ 1,983 $ 424,483 Special Mention — — — — — — — — Substandard 2,312 1,428 — — — — — 3,740 Doubtful — — — — — — — — Loss — — — — — — — — Total Multifamily real estate $ 80,944 $ 71,253 $ 39,343 $ 93,442 $ 44,395 $ 96,863 $ 1,983 $ 428,223 December 31, 2020 Term Loans by Year of Origination Revolving Loans Total Loans By class: 2020 2019 2018 2017 2016 Prior Commercial construction Risk Rating Pass $ 83,506 $ 67,152 $ 41,299 $ 6,038 $ 2,158 $ 1,129 $ — $ 201,282 Special Mention — 5,963 — — — — — 5,963 Substandard 12,913 3,808 4,873 — 98 — — 21,692 Doubtful — — — — — — — — Loss — — — — — — — — Total Commercial construction $ 96,419 $ 76,923 $ 46,172 $ 6,038 $ 2,256 $ 1,129 $ — $ 228,937 Multifamily construction Risk Rating Pass $ 79,710 $ 151,141 $ 59,744 $ 14,932 $ — $ — $ — $ 305,527 Special Mention — — — — — — — — Substandard — — — — — — — — Doubtful — — — — — — — — Loss — — — — — — — — Total Multifamily construction $ 79,710 $ 151,141 $ 59,744 $ 14,932 $ — $ — $ — $ 305,527 One- to four- family construction Risk Rating Pass $ 461,294 $ 35,910 $ — $ — $ — $ — $ 7,581 $ 504,785 Special Mention 1,563 — — — — — 630 2,193 Substandard 501 331 — — — — — 832 Doubtful — — — — — — — — Loss — — — — — — — — Total One- to four- family construction $ 463,358 $ 36,241 $ — $ — $ — $ — $ 8,211 $ 507,810 December 31, 2020 Term Loans by Year of Origination Revolving Loans Total Loans By class: 2020 2019 2018 2017 2016 Prior Land and land development Risk Rating Pass $ 156,450 $ 37,397 $ 16,560 $ 6,801 $ 6,264 $ 4,840 $ 17,020 $ 245,332 Special Mention — — — — — — — — Substandard 14 30 3,047 190 — 302 — 3,583 Doubtful — — — — — — — — Loss — — — — — — — — Total Land and land development $ 156,464 $ 37,427 $ 19,607 $ 6,991 $ 6,264 $ 5,142 $ 17,020 $ 248,915 Commercial business Risk Rating Pass $ 1,243,276 $ 230,845 $ 203,051 $ 65,524 $ 38,757 $ 66,206 $ 264,741 $ 2,112,400 Special Mention 103 412 — 829 — 115 9,507 10,966 Substandard 6,624 14,413 18,569 5,224 1,320 453 8,492 55,095 Doubtful — — — — — — — — Loss — — — — — — — — Total Commercial business $ 1,250,003 $ 245,670 $ 221,620 $ 71,577 $ 40,077 $ 66,774 $ 282,740 $ 2,178,461 Agricultural business including secured by farmland Risk Rating Pass $ 32,032 $ 62,058 $ 31,381 $ 22,635 $ 22,394 $ 24,950 $ 91,660 $ 287,110 Special Mention — — — 810 — 537 — 1,347 Substandard 1,542 2,652 1,076 163 675 3,049 2,335 11,492 Doubtful — — — — — — — — Loss — — — — — — — — Total Agricultural business including secured by farmland $ 33,574 $ 64,710 $ 32,457 $ 23,608 $ 23,069 $ 28,536 $ 93,995 $ 299,949 The following tables present the Company’s portfolio of non-risk-rated loans by class and delinquency status as of March 31, 2021 and December 31, 2020 (in thousands). Revolving loans that are converted to term loans are treated as new originations in the table below and are presented by year of origination. Term loans that are renewed or extended for periods longer than 90 days are presented as a new origination in the year of the most recent renewal or extension. March 31, 2021 Term Loans by Year of Origination Revolving Loans Total Loans By class: 2021 2020 2019 2018 2017 Prior Small balance CRE Past Due Category Current $ 16,636 $ 86,223 $ 83,030 $ 89,631 $ 83,972 $ 275,125 $ 1,059 $ 635,676 30-59 Days Past Due — — — — — 895 — 895 60-89 Days Past Due — — — — — 1,978 — 1,978 90 Days + Past Due — — — — 558 223 — 781 Total small balance CRE $ 16,636 $ 86,223 $ 83,030 $ 89,631 $ 84,530 $ 278,221 $ 1,059 $ 639,330 Small business scored Past Due Category Current $ 36,376 $ 148,553 $ 134,717 $ 114,934 $ 78,944 $ 99,736 $ 100,192 $ 713,452 30-59 Days Past Due 50 17 139 694 82 357 121 1,460 60-89 Days Past Due — 755 54 89 47 — 3 948 90 Days + Past Due — 130 18 280 617 597 — 1,642 Total small business scored $ 36,426 $ 149,455 $ 134,928 $ 115,997 $ 79,690 $ 100,690 $ 100,316 $ 717,502 One- to four- family residential Past Due Category Current $ 16,134 $ 113,853 $ 80,610 $ 79,090 $ 82,592 $ 276,047 $ 2,740 $ 651,066 30-59 Days Past Due — 277 — 247 369 94 — 987 60-89 Days Past Due — — — 19 — 2 — 21 90 Days + Past Due 41 — 972 174 — 2,366 — 3,553 Total One- to four- family residential $ 16,175 $ 114,130 $ 81,582 $ 79,530 $ 82,961 $ 278,509 $ 2,740 $ 655,627 March 31, 2021 Term Loans by Year of Origination Revolving Loans Total Loans By class: 2021 2020 2019 2018 2017 Prior Consumer—home equity revolving lines of credit Past Due Category Current $ 8,652 $ 1,216 $ 3,046 $ 3,089 $ 2,484 $ 2,888 $ 442,660 $ 464,035 30-59 Days Past Due — — 64 — — 193 207 464 60-89 Days Past Due — — — — 109 — — 109 90 Days + Past Due — — 413 196 127 556 232 1,524 Total Consumer—home equity revolving lines of credit $ 8,652 $ 1,216 $ 3,523 $ 3,285 $ 2,720 $ 3,637 $ 443,099 $ 466,132 Consumer-other Past Due Category Current $ 2,738 $ 19,754 $ 11,549 $ 12,375 $ 9,931 $ 24,136 $ 23,893 $ 104,376 30-59 Days Past Due — — — 13 2 56 60 131 60-89 Days Past Due — — 27 4 — 10 17 58 90 Days + Past Due — — — — — — — — Total Consumer-other $ 2,738 $ 19,754 $ 11,576 $ 12,392 $ 9,933 $ 24,202 $ 23,970 $ 104,565 December 31, 2020 Term Loans by Year of Origination Revolving Loans Total Loans By class: 2020 2019 2018 2017 2016 Prior Small balance CRE Past Due Category Current $ 56,544 $ 80,090 $ 84,749 $ 77,637 $ 68,791 $ 202,653 $ 2,550 $ 573,014 30-59 Days Past Due — — — — — — — — 60-89 Days Past Due — — — 45 — — — 45 90 Days + Past Due — — — 567 — 223 — 790 Total small balance CRE $ 56,544 $ 80,090 $ 84,749 $ 78,249 $ 68,791 $ 202,876 $ 2,550 $ 573,849 Small business scored Past Due Category Current $ 157,161 $ 145,037 $ 126,578 $ 89,734 $ 47,909 $ 63,347 $ 109,287 $ 739,053 30-59 Days Past Due 129 62 310 723 4 1 230 1,459 60-89 Days Past Due 98 147 3 140 — 352 151 891 90 Days + Past Due 73 228 800 484 169 248 46 2,048 Total small business scored $ 157,461 $ 145,474 $ 127,691 $ 91,081 $ 48,082 $ 63,948 $ 109,714 $ 743,451 One- to four- family residential Past Due Category Current $ 105,411 $ 90,425 $ 92,232 $ 101,491 $ 60,738 $ 254,850 $ 3,164 $ 708,311 30-59 Days Past Due 1,051 — 1,302 829 — 1,438 — 4,620 60-89 Days Past Due — — 19 — — 936 — 955 90 Days + Past Due — 114 1,185 456 169 2,129 — 4,053 Total One- to four- family residential $ 106,462 $ 90,539 $ 94,738 $ 102,776 $ 60,907 $ 259,353 $ 3,164 $ 717,939 December 31, 2020 Term Loans by Year of Origination Revolving Loans Total Loans By class: 2020 2019 2018 2017 2016 Prior Consumer—home equity revolving lines of credit Past Due Category Current $ 10,522 $ 2,617 $ 2,553 $ 3,359 $ 1,372 $ 2,154 $ 466,490 $ 489,067 30-59 Days Past Due — — — — — 50 409 459 60-89 Days Past Due — 202 — — — 237 — 439 90 Days + Past Due — 312 198 564 286 255 232 1,847 Total Consumer—home equity revolving lines of credit $ 10,522 $ 3,131 $ 2,751 $ 3,923 $ 1,658 $ 2,696 $ 467,131 $ 491,812 Consumer-other Past Due Category Current $ 21,811 $ 13,377 $ 13,936 $ 11,433 $ 8,575 $ 18,802 $ 25,460 $ 113,394 30-59 Days Past Due 48 35 15 22 46 26 44 236 60-89 Days Past Due 242 — — 33 21 14 18 328 90 Days + Past Due — — — — — — — — Total Consumer-other $ 22,101 $ 13,412 $ 13,951 $ 11,488 $ 8,642 $ 18,842 $ 25,522 $ 113,958 |
Loans, Collateral Dependent [Table Text Block] | The following tables provide the amortized cost basis of collateral-dependent loans as of March 31, 2021 and December 31, 2020 (in thousands). Our collateral dependent loans presented in the tables below have no significant concentrations by property type or location. March 31, 2021 Real Estate Accounts Receivable Equipment Inventory Total Commercial real estate: Owner-occupied $ 4,684 $ — $ — $ — $ 4,684 Investment properties 12,568 — — — 12,568 Small balance CRE 3,090 — — — 3,090 Commercial business Commercial business 557 — 73 — 630 Small business scored 43 — 47 — 90 Agricultural business, including secured by farmland 427 — 930 — 1,357 Total $ 21,369 $ — $ 1,050 $ — $ 22,419 |
Schedule of Age Analysis of the Company's Past Due Loans | The following tables present the Company’s portfolio of non-risk-rated loans by class and delinquency status as of March 31, 2021 and December 31, 2020 (in thousands). Revolving loans that are converted to term loans are treated as new originations in the table below and are presented by year of origination. Term loans that are renewed or extended for periods longer than 90 days are presented as a new origination in the year of the most recent renewal or extension. March 31, 2021 Term Loans by Year of Origination Revolving Loans Total Loans By class: 2021 2020 2019 2018 2017 Prior Small balance CRE Past Due Category Current $ 16,636 $ 86,223 $ 83,030 $ 89,631 $ 83,972 $ 275,125 $ 1,059 $ 635,676 30-59 Days Past Due — — — — — 895 — 895 60-89 Days Past Due — — — — — 1,978 — 1,978 90 Days + Past Due — — — — 558 223 — 781 Total small balance CRE $ 16,636 $ 86,223 $ 83,030 $ 89,631 $ 84,530 $ 278,221 $ 1,059 $ 639,330 Small business scored Past Due Category Current $ 36,376 $ 148,553 $ 134,717 $ 114,934 $ 78,944 $ 99,736 $ 100,192 $ 713,452 30-59 Days Past Due 50 17 139 694 82 357 121 1,460 60-89 Days Past Due — 755 54 89 47 — 3 948 90 Days + Past Due — 130 18 280 617 597 — 1,642 Total small business scored $ 36,426 $ 149,455 $ 134,928 $ 115,997 $ 79,690 $ 100,690 $ 100,316 $ 717,502 One- to four- family residential Past Due Category Current $ 16,134 $ 113,853 $ 80,610 $ 79,090 $ 82,592 $ 276,047 $ 2,740 $ 651,066 30-59 Days Past Due — 277 — 247 369 94 — 987 60-89 Days Past Due — — — 19 — 2 — 21 90 Days + Past Due 41 — 972 174 — 2,366 — 3,553 Total One- to four- family residential $ 16,175 $ 114,130 $ 81,582 $ 79,530 $ 82,961 $ 278,509 $ 2,740 $ 655,627 March 31, 2021 Term Loans by Year of Origination Revolving Loans Total Loans By class: 2021 2020 2019 2018 2017 Prior Consumer—home equity revolving lines of credit Past Due Category Current $ 8,652 $ 1,216 $ 3,046 $ 3,089 $ 2,484 $ 2,888 $ 442,660 $ 464,035 30-59 Days Past Due — — 64 — — 193 207 464 60-89 Days Past Due — — — — 109 — — 109 90 Days + Past Due — — 413 196 127 556 232 1,524 Total Consumer—home equity revolving lines of credit $ 8,652 $ 1,216 $ 3,523 $ 3,285 $ 2,720 $ 3,637 $ 443,099 $ 466,132 Consumer-other Past Due Category Current $ 2,738 $ 19,754 $ 11,549 $ 12,375 $ 9,931 $ 24,136 $ 23,893 $ 104,376 30-59 Days Past Due — — — 13 2 56 60 131 60-89 Days Past Due — — 27 4 — 10 17 58 90 Days + Past Due — — — — — — — — Total Consumer-other $ 2,738 $ 19,754 $ 11,576 $ 12,392 $ 9,933 $ 24,202 $ 23,970 $ 104,565 The following tables provide additional detail on the age analysis of the Company’s past due loans as of March 31, 2021 and December 31, 2020 (in thousands): March 31, 2021 30-59 Days 60-89 Days 90 Days or More Total Current Total Loans Non-accrual with no Allowance Total Non-accrual (1) Loans 90 Days or More Past Due and Accruing Commercial real estate: Owner-occupied $ 14,824 $ 4,687 $ 587 $ 20,098 $ 1,025,558 $ 1,045,656 $ 4,687 $ 5,416 $ — Investment properties 1 1,322 3,709 5,032 1,926,773 1,931,805 12,568 12,568 — Small balance CRE 895 1,978 781 3,654 635,676 639,330 3,086 3,631 — Multifamily real estate — — — — 433,775 433,775 — — — Construction, land and land development: Commercial construction — — 98 98 198,939 199,037 — 98 — Multifamily construction — — — — 305,694 305,694 — — — One- to four-family construction 170 — — 170 542,670 542,840 — 687 — Land and land development — — 14 14 266,716 266,730 — 201 — Commercial business Commercial business 159 558 228 945 2,375,649 2,376,594 628 1,266 — Small business scored 1,460 948 1,642 4,050 713,452 717,502 90 2,928 37 Agricultural business, including secured by farmland — — 1,536 1,536 260,874 262,410 1,357 1,536 — One- to four-family residential 987 21 3,553 4,561 651,066 655,627 — 4,456 1,524 Consumer: Consumer—home equity revolving lines of credit 464 109 1,524 2,097 464,035 466,132 — 2,234 — Consumer—other 131 58 — 189 104,376 104,565 — 10 — Total $ 19,091 $ 9,681 $ 13,672 $ 42,444 $ 9,905,253 $ 9,947,697 $ 22,416 $ 35,031 $ 1,561 December 31, 2020 30-59 Days 60-89 Days 90 Days or More Total Current Total Loans Non-accrual with no Allowance Total Non-accrual (1) Loans 90 Days or More Past Due and Accruing Commercial real estate: Owner-occupied $ — $ 182 $ 1,447 $ 1,629 $ 1,074,838 $ 1,076,467 $ 7,509 $ 8,429 $ — Investment properties — — 7,981 7,981 1,947,703 1,955,684 8,979 8,979 — Small balance CRE — 45 790 835 573,014 573,849 567 791 — Multifamily real estate — — — — 428,223 428,223 — — — Construction, land and land development: Commercial construction — — 98 98 228,839 228,937 — 98 — Multifamily construction — — — — 305,527 305,527 — — — One- to four-family construction 356 — 331 687 507,123 507,810 — 331 — Land and land development — — 317 317 248,598 248,915 302 507 — Commercial business Commercial business 3,247 31 2,088 5,366 2,173,095 2,178,461 555 1,988 889 Small business scored 1,459 891 2,048 4,398 739,053 743,451 91 3,419 136 Agricultural business, including secured by farmland 298 37 1,548 1,883 298,066 299,949 1,412 1,743 — One-to four-family residential 4,620 955 4,053 9,628 708,311 717,939 171 3,556 1,899 Consumer: Consumer secured by one- to four-family 459 439 1,847 2,745 489,067 491,812 — 2,697 130 Consumer—other 236 328 — 564 113,394 113,958 — 22 — Total $ 10,675 $ 2,908 $ 22,548 $ 36,131 $ 9,834,851 $ 9,870,982 $ 19,586 $ 32,560 $ 3,054 |
Allowance for Credit Losses on Financing Receivables | The following tables provide the activity in the allowance for credit losses by portfolio segment for the three months ended March 31, 2021 and 2020 (in thousands): For the Three Months Ended March 31, 2021 Commercial Multifamily Construction and Land Commercial Business Agricultural Business One- to Four-Family Residential Consumer Unallocated Total Allowance for credit losses: Beginning balance $ 57,791 $ 3,893 $ 41,295 $ 35,007 $ 4,914 $ 9,913 $ 14,466 $ — $ 167,279 Provision/(recapture) for credit losses 5,359 474 (4,955) (3,786) (297) (2,038) (2,792) — (8,035) Recoveries 24 — 100 979 — 113 296 — 1,512 Charge-offs (3,763) — — (789) — — (150) — (4,702) Ending balance $ 59,411 $ 4,367 $ 36,440 $ 31,411 $ 4,617 $ 7,988 $ 11,820 $ — $ 156,054 The changes in the allowance for credit losses during the three months ended March 31, 2021 were primarily the result of the $8.0 million recapture of provision for credit losses recorded as well as the net charge offs of $3.2 million recognized during the current quarter. The recapture of provision for credit losses for the current quarter primarily reflects the decrease in loan balances, excluding the increase in PPP loans, as well as improvement in the forecasted economic indicators. For the Three Months Ended March 31, 2020 Commercial Multifamily Construction and Land Commercial Business Agricultural Business One- to Four-Family Residential Consumer Unallocated Total Allowance for credit losses: Beginning balance $ 30,591 $ 4,754 $ 22,994 $ 23,370 $ 4,120 $ 4,136 $ 8,202 $ 2,392 $ 100,559 Impact of Adopting ASC 326 (2,864) (2,204) 2,515 3,010 (351) 7,125 2,973 (2,392) 7,812 Provision/(recapture) for credit losses 1,545 321 8,708 6,447 (1,006) 539 5,159 — 21,713 Recoveries 167 — — 205 1,750 148 96 — 2,366 Charge-offs (100) (66) — (1,384) — (64) (348) — (1,962) Ending balance $ 29,339 $ 2,805 $ 34,217 $ 31,648 $ 4,513 $ 11,884 $ 16,082 $ — $ 130,488 |
GOODWILL, OTHER INTANGIBLE AS_2
GOODWILL, OTHER INTANGIBLE ASSETS AND MORTGAGE SERVICING RIGHTS (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Changes in Goodwill and Intangible Assets | The following table summarizes the changes in the Company’s goodwill and other intangibles for the three months ended March 31, 2021 and the year ended December 31, 2020 (in thousands): Goodwill CDI Total Balance, December 31, 2019 $ 373,121 $ 29,158 $ 402,279 Amortization — (7,732) (7,732) Balance, December 31, 2020 373,121 21,426 394,547 Amortization — (1,711) (1,711) Balance, March 31, 2021 $ 373,121 $ 19,715 $ 392,836 |
Schedule of Estimated Annual Amortization Expense | The following table presents the estimated amortization expense with respect to CDI as of March 31, 2021 for the periods indicated (in thousands): Estimated Amortization Remainder of 2021 $ 4,860 2022 5,317 2023 3,814 2024 2,659 2025 1,575 Thereafter 1,490 $ 19,715 |
Schedule of Servicing Assets at Amortized Value | An analysis of our mortgage servicing rights for the three months ended March 31, 2021 and 2020 is presented below (in thousands): Three Months Ended 2021 2020 Balance, beginning of the period $ 15,223 $ 14,148 Additions—amounts capitalized 2,010 1,420 Additions—through purchase 27 63 Amortization (1) (1,853) (1,354) Balance, end of the period (2) $ 15,407 $ 14,277 (1) Amortization of mortgage servicing rights is recorded as a reduction of loan servicing income within mortgage banking operations and any unamortized balance is fully amortized if the loan repays in full. (2) There was no valuation allowance as of both March 31, 2021 and 2020. |
REAL ESTATE OWNED, NET (Tables)
REAL ESTATE OWNED, NET (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Real Estate [Abstract] | |
Schedule of Changes in Real Estate Owned, Net of Valuation Adjustments | The following table presents the changes in REO for the three months ended March 31, 2021 and 2020 (in thousands): Three Months Ended 2021 2020 Balance, beginning of the period $ 816 $ 814 Additions from loan foreclosures — 1,588 Proceeds from dispositions of REO (783) — Gain on sale of REO 307 — Balance, end of the period $ 340 $ 2,402 |
DEPOSITS (Tables)
DEPOSITS (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Banking and Thrift, Other Disclosures [Abstract] | |
Schedule of Deposit Liabilities | Deposits consisted of the following at March 31, 2021 and December 31, 2020 (in thousands): March 31, 2021 December 31, 2020 Non-interest-bearing accounts $ 5,994,693 $ 5,492,924 Interest-bearing checking 1,722,085 1,569,435 Regular savings accounts 2,597,731 2,398,482 Money market accounts 2,327,380 2,191,135 Total interest-bearing transaction and saving accounts 6,647,196 6,159,052 Certificates of deposit: Certificates of deposit less than or equal to $250,000 711,424 718,256 Certificates of deposit greater than $250,000 195,554 197,064 Total certificates of deposit (1) 906,978 915,320 Total deposits $ 13,548,867 $ 12,567,296 Included in total deposits: Public fund transaction and savings accounts $ 321,042 $ 302,875 Public fund interest-bearing certificates 51,021 59,127 Total public deposits $ 372,063 $ 362,002 Total brokered deposits $ — $ — (1) Certificates of deposit include $34,000 and $58,000 of acquisition premiums at March 31, 2021 and December 31, 2020, respectively. |
Maturities of Certificates of Deposit | Scheduled maturities and weighted average interest rates of certificates of deposit at March 31, 2021 are as follows (dollars in thousands): March 31, 2021 Amount Weighted Average Rate Maturing in one year or less $ 705,004 0.71 % Maturing after one year through two years 116,565 1.29 Maturing after two years through three years 61,618 0.81 Maturing after three years through four years 13,244 1.89 Maturing after four years through five years 8,684 0.72 Maturing after five years 1,863 0.95 Total certificates of deposit $ 906,978 0.81 % |
FAIR VALUE OF FINANCIAL INSTR_2
FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Fair Value Disclosures [Abstract] | |
Schedule of Fair Value of Financial Instruments, by Balance Sheet Grouping | The following table presents estimated fair values of the Company’s financial instruments as of March 31, 2021 and December 31, 2020, whether or not measured at fair value in the Consolidated Statements of Financial Condition (dollars in thousands): March 31, 2021 December 31, 2020 Level Carrying Estimated Carrying Estimated Assets: Cash and cash equivalents 1 $ 1,649,927 $ 1,649,927 $ 1,234,183 $ 1,234,183 Securities—trading 3 25,039 25,039 24,980 24,980 Securities—available-for-sale 2 2,989,760 2,989,760 2,322,593 2,322,593 Securities—held-to-maturity 2 418,871 436,484 410,038 436,882 Securities—held-to-maturity 3 23,084 23,111 11,769 11,799 Loans held for sale 2 135,263 136,873 243,795 245,667 Loans receivable 3 9,947,697 9,967,242 9,870,982 9,810,293 FHLB stock 3 14,001 14,001 16,358 16,358 Bank-owned life insurance 1 191,388 191,388 191,830 191,830 Mortgage servicing rights 3 15,407 21,176 15,223 18,084 Derivatives: Interest rate swaps 2 25,246 25,246 39,066 39,066 Interest rate lock and forward sales commitments 2,3 6,186 6,186 5,641 5,641 Liabilities: Demand, interest checking and money market accounts 2 10,044,158 10,044,158 9,253,494 9,253,494 Regular savings 2 2,597,731 2,597,731 2,398,482 2,398,482 Certificates of deposit 2 906,978 910,069 915,320 919,920 FHLB advances 2 100,000 101,908 150,000 152,779 Other borrowings 2 216,260 216,260 184,785 184,785 Subordinated notes, net 3 98,290 98,290 98,201 98,201 Junior subordinated debentures 3 117,248 117,248 116,974 116,974 Derivatives: Interest rate swaps 2 17,923 17,923 22,336 22,336 Interest rate lock and forward sales commitments 2 85 85 1,755 1,755 |
Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis | The following tables present financial assets and liabilities measured at fair value on a recurring basis and the level within the fair value hierarchy of the fair value measurements for those assets and liabilities as of March 31, 2021 and December 31, 2020 (in thousands): March 31, 2021 Level 1 Level 2 Level 3 Total Assets: Securities—trading Corporate bonds (Trust Preferred Securities) $ — $ — $ 25,039 $ 25,039 Securities—available-for-sale U.S. Government and agency obligations — 62,846 — 62,846 Municipal bonds — 300,735 — 300,735 Corporate bonds — 245,428 — 245,428 Mortgage-backed or related securities — 2,377,003 — 2,377,003 Asset-backed securities — 3,748 — 3,748 — 2,989,760 — 2,989,760 Loans held for sale — 59,993 — 59,993 Derivatives Interest rate swaps — 25,246 — 25,246 Interest rate lock and forward sales commitments — 3,249 2,937 6,186 $ — $ 3,078,248 $ 27,976 $ 3,106,224 Liabilities: Junior subordinated debentures $ — $ — $ 117,248 $ 117,248 Derivatives Interest rate swaps — 17,923 — 17,923 Interest rate lock and forward sales commitments — 85 — 85 $ — $ 18,008 $ 117,248 $ 135,256 December 31, 2020 Level 1 Level 2 Level 3 Total Assets: Securities—trading Corporate bonds (Trust Preferred Securities) $ — $ — $ 24,980 $ 24,980 Securities—available-for-sale U.S. Government and agency obligations — 141,735 — 141,735 Municipal bonds — 303,518 — 303,518 Corporate bonds — 221,769 — 221,769 Mortgage-backed securities — 1,646,152 — 1,646,152 Asset-backed securities — 9,419 — 9,419 — 2,322,593 — 2,322,593 Loans held for sale — 133,554 — 133,554 Derivatives Interest rate swaps — 39,066 — 39,066 Interest rate lock and forward sales commitments — 420 5,221 5,641 $ — $ 2,495,633 $ 30,201 $ 2,525,834 Liabilities: Junior subordinated debentures, net of unamortized deferred issuance costs $ — $ — $ 116,974 $ 116,974 Derivatives Interest rate swaps — 22,336 — 22,336 Interest rate lock and forward sales commitments — 1,755 — 1,755 $ — $ 24,091 $ 116,974 $ 141,065 |
Schedule of Valuation Technique, Unobservable Input, and Qualitative Information for Unobservable Inputs | The following table provides a description of the valuation technique, unobservable inputs, and qualitative information about the unobservable inputs for certain of the Company’s assets and liabilities classified as Level 3 and measured at fair value on a recurring and non-recurring basis at March 31, 2021 and December 31, 2020: Weighted Average Rate / Range Financial Instruments Valuation Techniques Unobservable Inputs March 31, 2021 December 31, 2020 Corporate bonds (TPS securities) Discounted cash flows Discount rate 4.19 % 4.24 % Junior subordinated debentures Discounted cash flows Discount rate 4.19 % 4.24 % Loans individually evaluated Collateral valuations Discount to appraised value 8.5% to 20.0% 0.0% to 20.0% REO Appraisals Discount to appraised value 68.35 % 51.86 % Interest rate lock commitments Pricing model Pull-through rate 89.15 % 86.35 % |
Schedule of Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation | The following tables provide a reconciliation of the assets and liabilities measured at fair value using significant unobservable inputs (Level 3) on a recurring basis during the three months ended March 31, 2021 and 2020 (in thousands): Three Months Ended March 31, 2021 Level 3 Fair Value Inputs TPS Securities Borrowings—Junior Subordinated Debentures Interest Rate Lock Commitments Beginning balance $ 24,980 $ 116,974 $ 5,221 Total gains or losses recognized Assets gains (losses) 59 — (2,284) Liabilities losses — 274 — Ending balance at March 31, 2021 $ 25,039 $ 117,248 $ 2,937 Three Months Ended March 31, 2020 Level 3 Fair Value Inputs TPS Securities Borrowings—Junior Subordinated Debentures Interest Rate Lock Commitments Beginning balance $ 25,636 $ 119,304 $ 791 Total gains or losses recognized Assets (losses) gains (4,596) — 1,726 Liabilities gains — (19,509) — Ending balance at March 31, 2020 $ 21,040 $ 99,795 $ 2,517 |
Schedule of Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis | The following tables present financial assets measured at fair value on a non-recurring basis and the level within the fair value hierarchy of the fair value measurements for those assets as of March 31, 2021 and December 31, 2020 (in thousands): March 31, 2021 Level 1 Level 2 Level 3 Total Loans individually evaluated $ — $ — $ 627 $ 627 REO — — 340 340 December 31, 2020 Level 1 Level 2 Level 3 Total Loans individually evaluated $ — $ — $ 3,482 $ 3,482 REO — — 816 816 The following table presents the losses resulting from non-recurring fair value adjustments for the three months ended March 31, 2021 and 2020 (in thousands): Three Months Ended March 31, 2021 2020 Loans individually evaluated $ 302 $ — REO — — Total loss from non-recurring measurements $ 302 $ — |
INCOME TAXES AND DEFERRED TAX_2
INCOME TAXES AND DEFERRED TAXES INCOME TAXES AND DEFERRED TAXES (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Income Tax Disclosure [Abstract] | |
Schedule of Components of Income Tax Expense (Benefit) | The following table presents the balances of the Company’s tax credit investments and related unfunded commitments at March 31, 2021 and December 31, 2020 (in thousands): March 31, 2021 December 31, 2020 Tax credit investments $ 32,613 $ 33,528 Unfunded commitments—tax credit investments 15,383 18,306 The following table presents other information related to the Company’s tax credit investments for the three months ended March 31, 2021 and 2020 (in thousands): Three Months Ended March 31, 2021 2020 Tax credits and other tax benefits recognized $ 1,068 $ 1,007 Tax credit amortization expense included in provision for income taxes 915 809 |
CALCULATION OF WEIGHTED AVERA_2
CALCULATION OF WEIGHTED AVERAGE SHARES OUTSTANDING FOR EARNINGS PER SHARE (EPS) (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Earnings Per Share [Abstract] | |
Schedule of Basic and Diluted Weighted Shares Outstanding | The following table reconciles basic to diluted weighted average shares outstanding used to calculate earnings per share data for the three months ended March 31, 2021 and 2020 (in thousands, except shares and per share data): Three Months Ended 2021 2020 Net income $ 46,855 $ 16,882 Basic weighted average shares outstanding 34,973,383 35,463,541 Dilutive effect of unvested restricted stock 330,100 176,922 Diluted weighted shares outstanding 35,303,483 35,640,463 Earnings per common share Basic $ 1.34 $ 0.48 Diluted $ 1.33 $ 0.47 |
COMMITMENTS AND CONTINGENCIES (
COMMITMENTS AND CONTINGENCIES (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of Financial Instruments With Off-Balance-Sheet Risks | Outstanding commitments for which no asset or liability for the notional amount has been recorded consisted of the following at the dates indicated (in thousands): Contract or Notional Amount March 31, 2021 December 31, 2020 Commitments to extend credit $ 3,357,135 $ 3,207,072 Standby letters of credit and financial guarantees 21,493 18,415 Commitments to originate loans 134,759 101,426 Risk participation agreement 40,789 40,949 Derivatives also included in Note 14: Commitments to originate loans held for sale 165,236 169,653 Commitments to sell loans secured by one- to four-family residential properties 82,963 79,414 Commitments to sell securities related to mortgage banking activities 199,500 204,000 |
DERIVATIVES AND HEDGING (Tables
DERIVATIVES AND HEDGING (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Schedule of Derivatives Designated in Hedge Relationships | As of March 31, 2021 and December 31, 2020, the notional values or contractual amounts and fair values of the Company’s derivatives designated in hedge relationships were as follows (in thousands): Asset Derivatives Liability Derivatives March 31, 2021 December 31, 2020 March 31, 2021 December 31, 2020 Notional/ Fair Value (1) Notional/ Fair Value (1) Notional/ Fair Value (2) Notional/ Fair Value (2) Interest rate swaps $ 248 $ 5 $ 338 $ 9 $ 248 $ 5 $ 338 $ 9 (1) Included in Loans receivable on the Consolidated Statements of Financial Condition. (2) Included in Accrued expenses and other liabilities on the Consolidated Statements of Financial Condition. |
Schedule of Derivatives Not Designated in Hedge Relationships | As of March 31, 2021 and December 31, 2020, the notional values or contractual amounts and fair values of the Company’s derivatives not designated in hedge relationships were as follows (in thousands): Asset Derivatives Liability Derivatives March 31, 2021 December 31, 2020 March 31, 2021 December 31, 2020 Notional/ Fair Value (1) Notional/ Fair Value (1) Notional/ Fair Value (2) Notional/ Fair Value (2) Interest rate swaps $ 458,118 $ 25,241 $ 451,760 $ 39,057 $ 458,118 $ 17,918 $ 451,760 $ 22,327 Mortgage loan commitments 139,668 2,937 140,390 5,221 62,267 85 72,511 199 Forward sales contracts 282,463 3,249 79,414 420 — — 204,000 1,556 $ 880,249 $ 31,427 $ 671,564 $ 44,698 $ 520,385 $ 18,003 $ 728,271 $ 24,082 (1) Included in Other assets on the Consolidated Statements of Financial Condition, with the exception of certain interest swaps and mortgage loan commitments (with a fair value of $246,000 at March 31, 2021 and $231,000 at December 31, 2020), which are included in Loans receivable. (2) Included in Accrued expenses and other liabilities on the Consolidated Statements of Financial Condition. Gains (losses) recognized in income on derivatives not designated in hedge relationships for the three months ended March 31, 2021 and 2020 were as follows (in thousands): Location on Consolidated Three Months Ended 2021 2020 Mortgage loan commitments Mortgage banking operations $ (2,284) $ 1,726 Forward sales contracts Mortgage banking operations 3,011 (3,068) $ 727 $ (1,342) |
Offsetting Assets and Liabilities | as of March 31, 2021 and December 31, 2020 (in thousands): March 31, 2021 Gross Amounts of Financial Instruments Not Offset in the Consolidated Statements of Financial Condition Gross Amounts Recognized Amounts offset Net Amounts Netting Adjustment Per Applicable Master Netting Agreements Fair Value Net Amount Derivative assets Interest rate swaps $ 25,246 $ — $ 25,246 $ — $ — $ 25,246 $ 25,246 $ — $ 25,246 $ — $ — $ 25,246 Derivative liabilities Interest rate swaps $ 23,877 $ (5,954) $ 17,923 $ — $ (12,881) $ 5,042 $ 23,877 $ (5,954) $ 17,923 $ — $ (12,881) $ 5,042 December 31, 2020 Gross Amounts of Financial Instruments Not Offset in the Consolidated Statements of Financial Condition Gross Amounts Recognized Amounts offset Net Amounts Netting Adjustment Per Applicable Master Netting Agreements Fair Value Net Amount Derivative assets Interest rate swaps $ 39,066 $ — $ 39,066 $ — $ — $ 39,066 $ 39,066 $ — $ 39,066 $ — $ — $ 39,066 Derivative liabilities Interest rate swaps $ 39,204 $ (16,868) $ 22,336 $ — $ (22,220) $ 116 $ 39,204 $ (16,868) $ 22,336 $ — $ (22,220) $ 116 |
REVENUE FROM CONTRACTS WITH C_2
REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Revenue from Contract with Customer [Abstract] | |
Disaggregation of Revenue [Table Text Block] | Deposit fees and other service charges for the three months ended March 31, 2021 and 2020 are summarized as follows (in thousands): Three Months Ended 2021 2020 Deposit service charges $ 4,113 $ 4,832 Debit and credit card interchange fees 5,290 4,884 Debit and credit card expense (2,520) (1,932) Merchant services income 3,142 3,002 Merchant services expense (2,532) (2,436) Other service charges 1,446 1,453 Total deposit fees and other service charges $ 8,939 $ 9,803 |
SECURITIES (Schedule of Securit
SECURITIES (Schedule of Securities) (Details) - USD ($) | 3 Months Ended | |||
Mar. 31, 2021 | Dec. 31, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | |
Schedule of Securities [Line Items] | ||||
Securities—trading, Amortized Cost | $ 27,203,000 | $ 27,203,000 | ||
Securities—trading | 25,039,000 | 24,980,000 | ||
Available-for-sale Securities, Amortized Cost | 2,996,902,000 | 2,256,189,000 | ||
Available-for-sale Securities, Gross Unrealized Gains | 46,118,000 | 68,543,000 | ||
Available-for-sale Securities, Gross Unrealized Losses | (53,260,000) | (2,139,000) | ||
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 0 | 0 | ||
Securities—available-for-sale | 2,989,760,000 | 2,322,593,000 | ||
Held-to-maturity Securities, Amortized Cost | 441,955,000 | 421,807,000 | ||
Held-to-maturity Securities, Gross Unrealized Gains | 19,414,000 | 26,980,000 | ||
Held-to-maturity Securities, Gross Unrealized Losses | 1,774,000 | 106,000 | ||
Securities—held-to-maturity | 459,595,000 | 448,681,000 | ||
Debt Securities, Held-to-maturity, Allowance for Credit Loss | 98,000 | (94,000) | ||
debt securities, held-to-maturity, accrued interest receivable | 2,700,000 | 3,000,000 | ||
Debt Securities, Available-for-Sale, Accrued Interest Receivable | 8,200,000 | 6,900,000 | ||
Trading Securities, Unrealized Holding Gain | 59,000 | |||
U.S. Government and agency obligations | ||||
Schedule of Securities [Line Items] | ||||
Available-for-sale Securities, Amortized Cost | 62,922,000 | 141,668,000 | ||
Available-for-sale Securities, Gross Unrealized Gains | 740,000 | 1,002,000 | ||
Available-for-sale Securities, Gross Unrealized Losses | (816,000) | (935,000) | ||
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 0 | 0 | ||
Securities—available-for-sale | 62,846,000 | 141,735,000 | ||
Held-to-maturity Securities, Amortized Cost | 339,000 | 340,000 | ||
Held-to-maturity Securities, Gross Unrealized Gains | 6,000 | 7,000 | ||
Held-to-maturity Securities, Gross Unrealized Losses | 0 | 0 | ||
Securities—held-to-maturity | 345,000 | 347,000 | ||
Debt Securities, Held-to-maturity, Allowance for Credit Loss | 0 | 0 | $ 0 | $ 0 |
Municipal bonds | ||||
Schedule of Securities [Line Items] | ||||
Available-for-sale Securities, Amortized Cost | 287,685,000 | 283,997,000 | ||
Available-for-sale Securities, Gross Unrealized Gains | 14,378,000 | 19,523,000 | ||
Available-for-sale Securities, Gross Unrealized Losses | (1,328,000) | (2,000) | ||
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 0 | 0 | ||
Securities—available-for-sale | 300,735,000 | 303,518,000 | ||
Held-to-maturity Securities, Amortized Cost | 381,136,000 | 370,998,000 | ||
Held-to-maturity Securities, Gross Unrealized Gains | 17,740,000 | 24,130,000 | ||
Held-to-maturity Securities, Gross Unrealized Losses | 1,481,000 | 94,000 | ||
Securities—held-to-maturity | 397,395,000 | 395,034,000 | ||
Debt Securities, Held-to-maturity, Allowance for Credit Loss | 61,000 | 59,000 | 61,000 | 0 |
Corporate bonds | ||||
Schedule of Securities [Line Items] | ||||
Securities—trading, Amortized Cost | 27,203,000 | 27,203,000 | ||
Securities—trading | 25,039,000 | 24,980,000 | ||
Available-for-sale Securities, Amortized Cost | 243,428,000 | 219,086,000 | ||
Available-for-sale Securities, Gross Unrealized Gains | 2,290,000 | 2,762,000 | ||
Available-for-sale Securities, Gross Unrealized Losses | (290,000) | (79,000) | ||
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 0 | 0 | ||
Securities—available-for-sale | 245,428,000 | 221,769,000 | ||
Held-to-maturity Securities, Amortized Cost | 3,190,000 | 3,222,000 | ||
Held-to-maturity Securities, Gross Unrealized Gains | 0 | 0 | ||
Held-to-maturity Securities, Gross Unrealized Losses | 7,000 | 12,000 | ||
Securities—held-to-maturity | 3,183,000 | 3,210,000 | ||
Debt Securities, Held-to-maturity, Allowance for Credit Loss | 37,000 | 35,000 | 37,000 | 0 |
Mortgage-backed or related securities | ||||
Schedule of Securities [Line Items] | ||||
Available-for-sale Securities, Amortized Cost | 2,399,117,000 | 1,602,033,000 | ||
Available-for-sale Securities, Gross Unrealized Gains | 28,710,000 | 45,179,000 | ||
Available-for-sale Securities, Gross Unrealized Losses | (50,824,000) | (1,060,000) | ||
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 0 | 0 | ||
Securities—available-for-sale | 2,377,003,000 | 1,646,152,000 | ||
Held-to-maturity Securities, Amortized Cost | 57,290,000 | 47,247,000 | ||
Held-to-maturity Securities, Gross Unrealized Gains | 1,668,000 | 2,843,000 | ||
Held-to-maturity Securities, Gross Unrealized Losses | 286,000 | 0 | ||
Securities—held-to-maturity | 58,672,000 | 50,090,000 | ||
Debt Securities, Held-to-maturity, Allowance for Credit Loss | 0 | 0 | $ 0 | $ 0 |
Asset-backed securities | ||||
Schedule of Securities [Line Items] | ||||
Available-for-sale Securities, Amortized Cost | 3,750,000 | 9,405,000 | ||
Available-for-sale Securities, Gross Unrealized Gains | 0 | 77,000 | ||
Available-for-sale Securities, Gross Unrealized Losses | (2,000) | (63,000) | ||
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 0 | 0 | ||
Securities—available-for-sale | $ 3,748,000 | $ 9,419,000 |
SECURITIES (Securities with Con
SECURITIES (Securities with Continuous Loss Position) (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Schedule of Held-to-maturity Securities [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | $ 945,802 | $ 189,078 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (36,138) | (1,135) |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value | 554,399 | 58,616 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (17,122) | (1,004) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 1,500,201 | 247,694 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss, Total | 53,260 | 2,139 |
U.S. Government and agency obligations | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | 3,090 | 3,126 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (10) | (8) |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value | 43,952 | 50,603 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (806) | (927) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 47,042 | 53,729 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss, Total | 816 | 935 |
Municipal bonds | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | 50,710 | 495 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (1,232) | (2) |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value | 8,403 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (96) | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 59,113 | 495 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss, Total | 1,328 | 2 |
Corporate bonds | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | 24,406 | 3,586 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (286) | (79) |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value | 996 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (4) | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 25,402 | 3,586 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss, Total | 290 | 79 |
Mortgage-backed or related securities | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | 863,848 | 181,871 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (34,608) | (1,046) |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value | 501,048 | 2,337 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (16,216) | (14) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 1,364,896 | 184,208 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss, Total | 50,824 | 1,060 |
Asset-backed securities | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | 3,748 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (2) | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value | 0 | 5,676 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | (63) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 3,748 | 5,676 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss, Total | $ 2 | $ 63 |
SECURITIES (Available-for-Sale
SECURITIES (Available-for-Sale Securities, Gross Gains and Losses on Sale) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Gain (Loss) on Securities [Line Items] | ||
Available-for-sale Securities, Gross Realized Gains | $ 595 | $ 78 |
Available-for-sale Securities, Gross Realized Losses | (110) | 0 |
Available-for-sale Securities, Gross Realized Gain (Loss) | $ 485 | $ 78 |
SECURITIES (Securities Debt Mat
SECURITIES (Securities Debt Maturities) (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Investments, Debt and Equity Securities [Abstract] | ||
Trading Securities, Amortized Cost, Maturing in one year or less | $ 0 | |
Trading Securities, Amortized Cost, Maturing after one year through five years | 0 | |
Trading Securities, Amortized Cost, Maturing after five years through ten years | 0 | |
Trading Securities, Amortized Cost, Maturing after ten years through twenty years | 27,203 | |
Trading Securities, Amortized Cost, Maturing after twenty years | 0 | |
Trading Securities, Amortized Cost | 27,203 | $ 27,203 |
Trading Securities, Fair Value, Maturing in one year or less | 0 | |
Trading Securities, Fair Value, Maturing after one year through five years | 0 | |
Trading Securities, Fair Value, Maturing after five years through ten years | 0 | |
Trading Securities, Fair Value, Maturing after ten years through twenty years | 25,039 | |
Trading Securities, Fair Value, Maturing after twenty years | 0 | |
Trading Securities, Fair Value | 25,039 | 24,980 |
Available-for-sale Securities, Amortized Cost, Maturing in one year or less | 158,605 | |
Available-for-sale Securities, Amortized Cost, Maturing after one year through five years | 178,983 | |
Available-for-sale Securities, Amortized Cost, Maturing after five years through ten years | 680,138 | |
Available-for-sale Securities, Amortized Cost, Maturing after ten years through twenty years | 276,682 | |
Available-for-sale Securities, Amortized Cost, Maturing after twenty years | 1,702,494 | |
Available-for-sale Securities, Amortized Cost | 2,996,902 | 2,256,189 |
Available-for-sale Securities, Fair Value, Maturing in one year or less | 158,816 | |
Available-for-sale Securities, Fair Value, Maturing after one year through five years | 187,427 | |
Available-for-sale Securities, Fair Value, Maturing after five years through ten years | 675,201 | |
Available-for-sale Securities, Fair Value, Maturing after ten years through twenty years | 285,450 | |
Available-for-sale Securities, Fair Value, Maturing after twenty years | 1,682,866 | |
Available-for-sale Securities, Fair Value | 2,989,760 | 2,322,593 |
Held-to-maturity Securities, Amortized Cost, Maturing in one year or less | 5,609 | |
Held-to-maturity Securities, Amortized Cost, Maturing after one year through five years | 54,888 | |
Held-to-maturity Securities, Amortized Cost, Maturing after five years through ten years | 33,435 | |
Held-to-maturity Securities, Amortized Cost, Maturing after ten years through twenty years | 152,353 | |
Held-to-maturity Securities, Amortized Cost, Maturing after twenty years | 195,670 | |
Held-to-maturity Securities, Amortized Cost | 441,955 | 421,807 |
Held-to-maturity Securities, Fair Value, Maturing in one year or less | 5,671 | |
Held-to-maturity Securities, Fair Value, Maturing after one year through five years | 57,069 | |
Held-to-maturity Securities, Fair Value, Maturing after five years through ten years | 35,387 | |
Held-to-maturity Securities, Fair Value, Maturing after ten years through twenty years | 155,651 | |
Held-to-maturity Securities, Fair Value, Maturing after twenty years | 205,817 | |
Debt Securities, Held-to-maturity, Fair Value | $ 459,595 | $ 448,681 |
SECURITIES (Securities Pledged)
SECURITIES (Securities Pledged) (Details) $ in Thousands | Mar. 31, 2021USD ($) |
Pledged Financial Instruments, Not Separately Reported, Securities [Abstract] | |
Securities pledged for State and Local Government Public Deposits, Carrying Value | $ 206,699 |
Securities pledged for Interest Rate Swap Counterparties, Carrying Value | 28,385 |
Securities pledged for Repurchase Agreements, Carrying Value | 245,018 |
Pledged Financial Instruments, Not Separately Reported, Interest-bearing Deposits for Other Debt Facilities | 2,588 |
Total pledged securities, Carrying Value | 482,690 |
Securities pledged for State and Local Government public deposits, Amortized Cost | 205,752 |
Securities pledged for Interest Rate Swap Counterparties, Amortized Cost | 27,749 |
Securities pledged for Repurchase Agreements, Amortized Cost | 250,440 |
Pledged Financial Instruments, Not Separately Reported, Interest-bearing Deposits for Other Debt Facilities, Amortized Cost | 2,588 |
Total pledged securities, Amortized Cost | 486,529 |
Securities pledged for State and Local Government Public Deposits, Fair Value | 218,842 |
Securities pledged for Interest Rate Swap Counterparties, Fair Value | 28,550 |
Securities pledged for Retail Repurchase Agreements, Fair Value | 245,018 |
Pledged Financial Instruments, Not Separately Reported, Interest-bearing Deposits for Other Debt Facilities, Fair Value | 2,648 |
Total pledged securities, Fair Value | $ 495,058 |
SECURITIES (Textual) (Details)
SECURITIES (Textual) (Details) | 3 Months Ended | ||
Mar. 31, 2021USD ($)numberOfSecuritiesnumberOfSalesOfSecurities | Mar. 31, 2020USD ($)numberOfSalesOfSecuritiesnumberOfSecurities | Dec. 31, 2020numberOfSecurities | |
Investments, Debt and Equity Securities [Abstract] | |||
Trading Securities, Number of Securities on Nonaccrual Status | 0 | 0 | |
Trading Securities, Unrealized Holding Loss | $ | $ (4,600,000) | ||
Trading Securities, Unrealized Holding Gain | $ | $ 59,000 | ||
Debt Securities, Available-for-sale [Abstract] | |||
Available-for-sale Securities, Number of Securities in Unrealized Loss Position | 81 | 54 | |
Available-for-sale Securities, Number of Securities in Nonaccrual Status | 0 | 0 | |
Held-to-maturity Securities [Abstract] | |||
Held-to-maturity Securities, Number of Securities Sold | numberOfSalesOfSecurities | 0 | 0 | |
Held-to-maturity Securities, Number of Securities in Nonaccrual Status | 0 | 0 | |
Trading Securities, Number of Securities Sold | 0 | 0 | |
Trading Securities, Unrealized Holding Loss | $ | $ 4,600,000 |
SECURITIES (Debt Securities, He
SECURITIES (Debt Securities, Held-to-Maturity, Credit Rating) (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Debt securities, held-to-maturity | $ 441,955 | $ 421,807 |
U.S. Government and agency obligations | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Debt securities, held-to-maturity | 339 | 340 |
Municipal bonds | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Debt securities, held-to-maturity | 381,136 | 370,998 |
Corporate bonds | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Debt securities, held-to-maturity | 3,190 | 3,222 |
Mortgage-backed or related securities | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Debt securities, held-to-maturity | 57,290 | 47,247 |
Standard & Poor's, AAA to A Rating | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Debt securities, held-to-maturity | 350,187 | 349,623 |
Standard & Poor's, AAA to A Rating | U.S. Government and agency obligations | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Debt securities, held-to-maturity | 0 | 0 |
Standard & Poor's, AAA to A Rating | Municipal bonds | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Debt securities, held-to-maturity | 349,687 | 349,123 |
Standard & Poor's, AAA to A Rating | Corporate bonds | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Debt securities, held-to-maturity | 500 | 500 |
Standard & Poor's, AAA to A Rating | Mortgage-backed or related securities | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Debt securities, held-to-maturity | 0 | 0 |
Standard & Poor's, Not Rated | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Debt securities, held-to-maturity | 91,768 | 72,184 |
Standard & Poor's, Not Rated | U.S. Government and agency obligations | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Debt securities, held-to-maturity | 339 | 340 |
Standard & Poor's, Not Rated | Municipal bonds | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Debt securities, held-to-maturity | 31,449 | 21,875 |
Standard & Poor's, Not Rated | Corporate bonds | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Debt securities, held-to-maturity | 2,690 | 2,722 |
Standard & Poor's, Not Rated | Mortgage-backed or related securities | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Debt securities, held-to-maturity | $ 57,290 | $ 47,247 |
SECURITIES (Debt Securities, _2
SECURITIES (Debt Securities, Held-to-Maturity, Allowance for Credit Loss) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Roll Forward] | ||
Beginning Balance | $ (94) | |
Debt Securities, Held-to-maturity, Allowance for Credit Loss | (94) | |
New credit standard (ASC 326) - impact in year of adoption | $ 11,215 | |
Ending Balance | 98 | |
U.S. Government and agency obligations | ||
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Roll Forward] | ||
Beginning Balance | 0 | 0 |
Debt Securities, Held-to-maturity, Allowance for Credit Loss | 0 | 0 |
New credit standard (ASC 326) - impact in year of adoption | 0 | |
Provision for credit losses | 0 | 0 |
Ending Balance | 0 | 0 |
Municipal bonds | ||
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Roll Forward] | ||
Beginning Balance | 59 | 0 |
Debt Securities, Held-to-maturity, Allowance for Credit Loss | 59 | 61 |
New credit standard (ASC 326) - impact in year of adoption | 28 | |
Provision for credit losses | 2 | 33 |
Ending Balance | 61 | 61 |
Corporate bonds | ||
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Roll Forward] | ||
Beginning Balance | 35 | 0 |
Debt Securities, Held-to-maturity, Allowance for Credit Loss | 35 | 37 |
New credit standard (ASC 326) - impact in year of adoption | 35 | |
Provision for credit losses | 2 | 2 |
Ending Balance | 37 | 37 |
Mortgage-backed or related securities | ||
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Roll Forward] | ||
Beginning Balance | 0 | 0 |
Debt Securities, Held-to-maturity, Allowance for Credit Loss | 0 | 0 |
New credit standard (ASC 326) - impact in year of adoption | 0 | |
Provision for credit losses | 0 | 0 |
Ending Balance | 0 | 0 |
Held-to-maturity Securities | ||
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Roll Forward] | ||
Beginning Balance | (94) | 0 |
Debt Securities, Held-to-maturity, Allowance for Credit Loss | 98 | 98 |
New credit standard (ASC 326) - impact in year of adoption | 63 | |
Provision for credit losses | 4 | 35 |
Ending Balance | $ 98 | $ 98 |
LOANS RECEIVABLE AND THE ALLO_3
LOANS RECEIVABLE AND THE ALLOWANCE FOR CREDIT LOSSES (Loans by Type) (Details) - USD ($) | Mar. 31, 2021 | Dec. 31, 2020 | Mar. 31, 2020 | Dec. 31, 2019 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans receivable | $ 9,947,697,000 | $ 9,870,982,000 | ||
Allowance for credit losses - loans | (156,054,000) | (167,279,000) | $ (130,488,000) | $ (100,559,000) |
Net loans | $ 9,791,643,000 | 9,703,703,000 | ||
Percent of total loans | 100.00% | |||
Unearned loan fees in excess of unamortized costs | $ 35,500,000 | 25,600,000 | ||
Discount on acquired loans, net | 13,900,000 | 16,100,000 | ||
Financing Receivable, Accrued Interest, before Allowance for Credit Loss | 38,200,000 | 36.6 | ||
Financing Receivable, Troubled Debt Restructuring | 7,600,000 | 7,900,000 | ||
Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans receivable | 9,870,982,000 | |||
Allowance for credit losses - loans | (167,279,000) | |||
Net loans | $ 9,703,703,000 | |||
Percent of total loans | 100.00% | |||
Commerical real estate - owner-occupied [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans receivable | $ 1,045,656,000 | $ 1,076,467,000 | ||
Percent of total loans | 10.50% | |||
Commerical real estate - owner-occupied [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans receivable | $ 1,076,467,000 | |||
Percent of total loans | 10.90% | |||
Commercial real estate - investment properties | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans receivable | $ 1,931,805,000 | $ 1,955,684,000 | ||
Percent of total loans | 19.40% | |||
Commercial real estate - investment properties | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans receivable | $ 1,955,684,000 | |||
Percent of total loans | 19.80% | |||
Small Balance Commercial Real Estate Loans [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans receivable | $ 639,330,000 | |||
Percent of total loans | 6.40% | |||
Small Balance Commercial Real Estate Loans [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans receivable | $ 573,849,000 | |||
Percent of total loans | 5.80% | |||
Multifamily Real Estate | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans receivable | $ 433,775,000 | $ 428,223,000 | ||
Allowance for credit losses - loans | $ (4,367,000) | (3,893,000) | (2,805,000) | (4,754,000) |
Percent of total loans | 4.30% | |||
Multifamily Real Estate | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans receivable | $ 428,223,000 | |||
Percent of total loans | 4.40% | |||
Commercial construction | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans receivable | $ 199,037,000 | $ 228,937,000 | ||
Percent of total loans | 2.00% | |||
Commercial construction | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans receivable | $ 228,937,000 | |||
Percent of total loans | 2.30% | |||
Multifamily construction | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans receivable | $ 305,694,000 | $ 305,527,000 | ||
Percent of total loans | 3.10% | |||
Multifamily construction | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans receivable | $ 305,527,000 | |||
Percent of total loans | 3.10% | |||
One- to four- family construction | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans receivable | $ 542,840,000 | $ 507,810,000 | ||
Percent of total loans | 5.50% | |||
One- to four- family construction | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans receivable | $ 507,810,000 | |||
Percent of total loans | 5.10% | |||
Land and Land Development Type [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans receivable | $ 266,730,000 | |||
Percent of total loans | 2.70% | |||
Land and Land Development Type [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans receivable | $ 248,915,000 | |||
Percent of total loans | 2.50% | |||
Land and land development - residential [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans receivable | $ 266,730,000 | $ 248,915,000 | ||
Commercial Business | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans receivable | 2,376,594,000 | 2,178,461,000 | ||
Allowance for credit losses - loans | $ (31,411,000) | (35,007,000) | (31,648,000) | (23,370,000) |
Percent of total loans | 23.90% | |||
Commercial Business | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans receivable | $ 2,178,461,000 | |||
Percent of total loans | 22.10% | |||
Small business scored | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans receivable | $ 717,502,000 | $ 743,451,000 | ||
Percent of total loans | 7.20% | |||
Small business scored | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans receivable | $ 743,451,000 | |||
Percent of total loans | 7.50% | |||
Agricultural business, including secured by farmland | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans receivable | $ 262,410,000 | $ 299,949,000 | ||
Allowance for credit losses - loans | $ (4,617,000) | (4,914,000) | (4,513,000) | (4,120,000) |
Percent of total loans | 2.60% | |||
Agricultural business, including secured by farmland | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans receivable | $ 299,949,000 | |||
Percent of total loans | 3.00% | |||
One- to four-family residential [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans receivable | $ 655,627,000 | $ 717,939,000 | ||
Allowance for credit losses - loans | $ (7,988,000) | (9,913,000) | $ (11,884,000) | $ (4,136,000) |
Percent of total loans | 6.60% | |||
One- to four-family residential [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans receivable | $ 717,939,000 | |||
Percent of total loans | 7.30% | |||
Consumer secured by one- to four-family [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans receivable | $ 466,132,000 | $ 491,812,000 | ||
Percent of total loans | 4.70% | |||
Consumer secured by one- to four-family [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans receivable | $ 491,812,000 | |||
Percent of total loans | 5.00% | |||
Consumer Loan [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans receivable | $ 104,565,000 | $ 113,958,000 | ||
Percent of total loans | 1.10% | |||
Consumer Loan [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans receivable | $ 113,958,000 | |||
Percent of total loans | 1.20% |
LOANS RECEIVABLE AND THE ALLO_4
LOANS RECEIVABLE AND THE ALLOWANCE FOR CREDIT LOSSES (Troubled Debt Restructuring) (Details) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021USD ($) | Mar. 31, 2020USD ($)contract | |
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Commitments to advance funds related to TDRs, maximum additional amounts | $ 0 | |
Number of Contracts | contract | 2 | |
Pre-modification Outstanding Recorded Investment | $ 4,796 | |
Post-modification Outstanding Recorded Investment | 4,796 | |
TDRs Which Incurred a Payment Default | $ 0 | $ 0 |
Commercial Business | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Number of Contracts | contract | 2 | |
Pre-modification Outstanding Recorded Investment | $ 4,796 | |
Post-modification Outstanding Recorded Investment | $ 4,796 |
LOANS RECEIVABLE AND THE ALLO_5
LOANS RECEIVABLE AND THE ALLOWANCE FOR CREDIT LOSSES (Newly Restructured Loans) (Details) $ in Millions | 3 Months Ended | |
Mar. 31, 2020contract | Mar. 31, 2021USD ($) | |
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Commitments to advance funds related to TDRs, maximum additional amounts | $ | $ 0 | |
Number of Contracts | contract | 2 |
LOANS RECEIVABLE AND THE ALLO_6
LOANS RECEIVABLE AND THE ALLOWANCE FOR CREDIT LOSSES LOANS RECEIVABLE AND THE ALLOWANCE FOR CREDIT LOSSES (Troubled Debt Restructuring Which Incurred Payment Default) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
TDRs Which Incurred a Payment Default | $ 0 | $ 0 |
LOANS RECEIVABLE AND THE ALLO_7
LOANS RECEIVABLE AND THE ALLOWANCE FOR CREDIT LOSSES (Risk-Rated and Non-Risk Rated Loans by Grade and Other Characteristic) (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | $ 9,947,697 | $ 9,870,982 |
Owner-occupied | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 39,237 | 251,023 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 243,932 | 188,312 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 199,655 | 159,857 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 149,726 | 127,251 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 102,880 | 104,043 |
Prior | 304,771 | 242,453 |
Revolving Loans | 5,455 | 3,528 |
Total Loans | 1,045,656 | 1,076,467 |
Loans receivable | 1,045,656 | 1,076,467 |
Commercial real estate - investment properties | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 41,603 | 257,365 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 266,624 | 276,673 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 272,317 | 319,804 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 305,839 | 254,328 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 262,974 | 304,105 |
Prior | 762,447 | 523,347 |
Revolving Loans | 20,001 | 20,062 |
Total Loans | 1,931,805 | 1,955,684 |
Loans receivable | 1,931,805 | 1,955,684 |
Small balance CRE | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 16,636 | 56,544 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 86,223 | 80,090 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 83,030 | 84,749 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 89,631 | 78,249 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 84,530 | 68,791 |
Prior | 278,221 | 202,876 |
Revolving Loans | 1,059 | 2,550 |
Total Loans | 639,330 | 573,849 |
Loans receivable | 639,330 | 573,849 |
Multifamily Real Estate | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 16,005 | 80,944 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 78,557 | 71,253 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 72,501 | 39,343 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 37,683 | 93,442 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 93,037 | 44,395 |
Prior | 133,912 | 96,863 |
Revolving Loans | 2,080 | 1,983 |
Total Loans | 433,775 | 428,223 |
Loans receivable | 433,775 | 428,223 |
Commercial construction | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 7,689 | 96,419 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 94,483 | 76,923 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 52,477 | 46,172 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 43,431 | 6,038 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 332 | 2,256 |
Prior | 625 | 1,129 |
Revolving Loans | 0 | 0 |
Total Loans | 199,037 | 228,937 |
Loans receivable | 199,037 | 228,937 |
Multifamily construction | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 26,801 | 79,710 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 84,144 | 151,141 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 128,336 | 59,744 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 51,514 | 14,932 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 14,899 | 0 |
Prior | 0 | 0 |
Revolving Loans | 0 | 0 |
Total Loans | 305,694 | 305,527 |
Loans receivable | 305,694 | 305,527 |
One- to four- family construction | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 204,530 | 463,358 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 324,068 | 36,241 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 10,705 | 0 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 |
Prior | 0 | 0 |
Revolving Loans | 3,537 | 8,211 |
Total Loans | 542,840 | 507,810 |
Loans receivable | 542,840 | 507,810 |
Land and land development | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 266,730 | 248,915 |
Commercial Business | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 442,729 | 1,250,003 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 1,107,651 | 245,670 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 219,333 | 221,620 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 209,787 | 71,577 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 67,800 | 40,077 |
Prior | 101,983 | 66,774 |
Revolving Loans | 227,311 | 282,740 |
Total Loans | 2,376,594 | 2,178,461 |
Loans receivable | 2,376,594 | 2,178,461 |
Small business scored | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 36,426 | 157,461 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 149,455 | 145,474 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 134,928 | 127,691 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 115,997 | 91,081 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 79,690 | 48,082 |
Prior | 100,690 | 63,948 |
Revolving Loans | 100,316 | 109,714 |
Total Loans | 717,502 | 743,451 |
Loans receivable | 717,502 | 743,451 |
Agricultural business, including secured by farmland | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 12,322 | 33,574 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 31,761 | 64,710 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 58,051 | 32,457 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 30,018 | 23,608 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 21,160 | 23,069 |
Prior | 46,202 | 28,536 |
Revolving Loans | 62,896 | 93,995 |
Total Loans | 262,410 | 299,949 |
Loans receivable | 262,410 | 299,949 |
One- to four- family residential | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 16,175 | 106,462 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 114,130 | 90,539 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 81,582 | 94,738 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 79,530 | 102,776 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 82,961 | 60,907 |
Prior | 278,509 | 259,353 |
Revolving Loans | 2,740 | 3,164 |
Total Loans | 655,627 | 717,939 |
Loans receivable | 655,627 | 717,939 |
Consumer—home equity revolving lines of credit | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 8,652 | 10,522 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 1,216 | 3,131 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 3,523 | 2,751 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 3,285 | 3,923 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 2,720 | 1,658 |
Prior | 3,637 | 2,696 |
Revolving Loans | 443,099 | 467,131 |
Total Loans | 466,132 | 491,812 |
Consumer secured by one- to four-family | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 466,132 | 491,812 |
Consumer-other | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 2,738 | 22,101 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 19,754 | 13,412 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 11,576 | 13,951 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 12,392 | 11,488 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 9,933 | 8,642 |
Prior | 24,202 | 18,842 |
Revolving Loans | 23,970 | 25,522 |
Total Loans | 104,565 | 113,958 |
Land and land development | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 53,534 | 156,464 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 141,089 | 37,427 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 26,208 | 19,607 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 12,145 | 6,991 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 6,754 | 6,264 |
Prior | 10,249 | 5,142 |
Revolving Loans | 16,751 | 17,020 |
Total Loans | 266,730 | 248,915 |
Pass | Owner-occupied | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 39,192 | 243,100 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 236,836 | 156,838 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 158,294 | 156,817 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 147,397 | 122,484 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 98,352 | 92,312 |
Prior | 266,316 | 212,792 |
Revolving Loans | 5,455 | 3,379 |
Total Loans | 951,842 | 987,722 |
Pass | Commercial real estate - investment properties | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 41,181 | 237,553 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 238,095 | 262,543 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 260,934 | 299,452 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 284,975 | 218,018 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 226,762 | 278,348 |
Prior | 711,557 | 502,914 |
Revolving Loans | 20,001 | 20,062 |
Total Loans | 1,783,505 | 1,818,890 |
Pass | Multifamily Real Estate | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 16,005 | 78,632 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 76,245 | 69,825 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 71,073 | 39,343 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 37,683 | 93,442 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 93,037 | 44,395 |
Prior | 133,912 | 96,863 |
Revolving Loans | 2,080 | 1,983 |
Total Loans | 430,035 | 424,483 |
Pass | Commercial construction | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 4,182 | 83,506 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 94,483 | 67,152 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 42,572 | 41,299 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 38,566 | 6,038 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 332 | 2,158 |
Prior | 527 | 1,129 |
Revolving Loans | 0 | 0 |
Total Loans | 180,662 | 201,282 |
Pass | Multifamily construction | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 26,801 | 79,710 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 84,144 | 151,141 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 128,336 | 59,744 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 51,514 | 14,932 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 14,899 | 0 |
Prior | 0 | 0 |
Revolving Loans | 0 | 0 |
Total Loans | 305,694 | 305,527 |
Pass | One- to four- family construction | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 204,174 | 461,294 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 324,068 | 35,910 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 10,374 | 0 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 |
Prior | 0 | 0 |
Revolving Loans | 3,537 | 7,581 |
Total Loans | 542,153 | 504,785 |
Pass | Commercial Business | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 440,419 | 1,243,276 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 1,103,935 | 230,845 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 211,237 | 203,051 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 191,647 | 65,524 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 62,188 | 38,757 |
Prior | 100,296 | 66,206 |
Revolving Loans | 211,777 | 264,741 |
Total Loans | 2,321,499 | 2,112,400 |
Pass | Agricultural business, including secured by farmland | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 12,322 | 32,032 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 31,316 | 62,058 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 55,503 | 31,381 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 29,215 | 22,635 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 20,206 | 22,394 |
Prior | 44,027 | 24,950 |
Revolving Loans | 61,005 | 91,660 |
Total Loans | 253,594 | 287,110 |
Pass | Land and land development | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 50,665 | 156,450 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 141,075 | 37,397 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 26,180 | 16,560 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 12,004 | 6,801 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 6,567 | 6,264 |
Prior | 10,249 | 4,840 |
Revolving Loans | 16,751 | 17,020 |
Total Loans | 263,491 | 245,332 |
Special Mention | Owner-occupied | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 4,560 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 16,835 | 0 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 2,251 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 2,217 | 0 |
Prior | 87 | 1,869 |
Revolving Loans | 0 | 149 |
Total Loans | 19,139 | 8,829 |
Special Mention | Commercial real estate - investment properties | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 2,712 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 2,730 |
Prior | 11,079 | 1,856 |
Revolving Loans | 0 | 0 |
Total Loans | 11,079 | 7,298 |
Special Mention | Multifamily Real Estate | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 |
Prior | 0 | 0 |
Revolving Loans | 0 | 0 |
Total Loans | 0 | 0 |
Special Mention | Commercial construction | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 5,963 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 5,967 | 0 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 |
Prior | 0 | 0 |
Revolving Loans | 0 | 0 |
Total Loans | 5,967 | 5,963 |
Special Mention | Multifamily construction | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 |
Prior | 0 | 0 |
Revolving Loans | 0 | 0 |
Total Loans | 0 | 0 |
Special Mention | One- to four- family construction | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 1,563 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 |
Prior | 0 | 0 |
Revolving Loans | 0 | 630 |
Total Loans | 0 | 2,193 |
Special Mention | Commercial Business | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 75 | 103 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 96 | 412 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 3,184 | 0 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 829 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 752 | 0 |
Prior | 104 | 115 |
Revolving Loans | 10,487 | 9,507 |
Total Loans | 14,698 | 10,966 |
Special Mention | Agricultural business, including secured by farmland | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 810 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 810 | 0 |
Prior | 0 | 537 |
Revolving Loans | 0 | 0 |
Total Loans | 810 | 1,347 |
Special Mention | Land and land development | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 |
Prior | 0 | 0 |
Revolving Loans | 0 | 0 |
Total Loans | 0 | 0 |
Substandard | Owner-occupied | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 45 | 7,923 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 7,096 | 26,914 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 24,526 | 3,040 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 2,329 | 2,516 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 2,311 | 11,731 |
Prior | 38,368 | 27,792 |
Revolving Loans | 0 | 0 |
Total Loans | 74,675 | 79,916 |
Substandard | Commercial real estate - investment properties | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 422 | 19,812 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 28,529 | 11,418 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 11,383 | 20,352 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 20,864 | 36,310 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 36,212 | 23,027 |
Prior | 39,811 | 18,577 |
Revolving Loans | 0 | 0 |
Total Loans | 137,221 | 129,496 |
Substandard | Multifamily Real Estate | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 2,312 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 2,312 | 1,428 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 1,428 | 0 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 |
Prior | 0 | 0 |
Revolving Loans | 0 | 0 |
Total Loans | 3,740 | 3,740 |
Substandard | Commercial construction | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 3,507 | 12,913 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 3,808 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 3,938 | 4,873 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 4,865 | 0 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 98 |
Prior | 98 | 0 |
Revolving Loans | 0 | 0 |
Total Loans | 12,408 | 21,692 |
Substandard | Multifamily construction | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 |
Prior | 0 | 0 |
Revolving Loans | 0 | 0 |
Total Loans | 0 | 0 |
Substandard | One- to four- family construction | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 356 | 501 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 331 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 331 | 0 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 |
Prior | 0 | 0 |
Revolving Loans | 0 | 0 |
Total Loans | 687 | 832 |
Substandard | Commercial Business | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 2,235 | 6,624 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 3,620 | 14,413 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 4,912 | 18,569 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 18,140 | 5,224 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 4,860 | 1,320 |
Prior | 1,583 | 453 |
Revolving Loans | 5,047 | 8,492 |
Total Loans | 40,397 | 55,095 |
Substandard | Agricultural business, including secured by farmland | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 1,542 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 445 | 2,652 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 2,548 | 1,076 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 803 | 163 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 144 | 675 |
Prior | 2,175 | 3,049 |
Revolving Loans | 1,891 | 2,335 |
Total Loans | 8,006 | 11,492 |
Substandard | Land and land development | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 2,869 | 14 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 14 | 30 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 28 | 3,047 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 141 | 190 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 187 | 0 |
Prior | 0 | 302 |
Revolving Loans | 0 | 0 |
Total Loans | 3,239 | 3,583 |
Doubtful | Owner-occupied | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 |
Prior | 0 | 0 |
Revolving Loans | 0 | 0 |
Total Loans | 0 | 0 |
Doubtful | Commercial real estate - investment properties | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 |
Prior | 0 | 0 |
Revolving Loans | 0 | 0 |
Total Loans | 0 | 0 |
Doubtful | Multifamily Real Estate | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 |
Prior | 0 | 0 |
Revolving Loans | 0 | 0 |
Total Loans | 0 | 0 |
Doubtful | Commercial construction | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 |
Prior | 0 | 0 |
Revolving Loans | 0 | 0 |
Total Loans | 0 | 0 |
Doubtful | Multifamily construction | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 |
Prior | 0 | 0 |
Revolving Loans | 0 | 0 |
Total Loans | 0 | 0 |
Doubtful | One- to four- family construction | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 |
Prior | 0 | 0 |
Revolving Loans | 0 | 0 |
Total Loans | 0 | 0 |
Doubtful | Commercial Business | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 |
Prior | 0 | 0 |
Revolving Loans | 0 | 0 |
Total Loans | 0 | 0 |
Doubtful | Agricultural business, including secured by farmland | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 |
Prior | 0 | 0 |
Revolving Loans | 0 | 0 |
Total Loans | 0 | 0 |
Doubtful | Land and land development | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 |
Prior | 0 | 0 |
Revolving Loans | 0 | 0 |
Total Loans | 0 | 0 |
Loss | Owner-occupied | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 |
Prior | 0 | 0 |
Revolving Loans | 0 | 0 |
Total Loans | 0 | 0 |
Loss | Commercial real estate - investment properties | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 |
Prior | 0 | 0 |
Revolving Loans | 0 | 0 |
Total Loans | 0 | 0 |
Loss | Multifamily Real Estate | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 |
Prior | 0 | 0 |
Revolving Loans | 0 | 0 |
Total Loans | 0 | 0 |
Loss | Commercial construction | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 |
Prior | 0 | 0 |
Revolving Loans | 0 | 0 |
Total Loans | 0 | 0 |
Loss | Multifamily construction | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 |
Prior | 0 | 0 |
Revolving Loans | 0 | 0 |
Total Loans | 0 | 0 |
Loss | One- to four- family construction | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 |
Prior | 0 | 0 |
Revolving Loans | 0 | 0 |
Total Loans | 0 | 0 |
Loss | Commercial Business | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 |
Prior | 0 | 0 |
Revolving Loans | 0 | 0 |
Total Loans | 0 | 0 |
Loss | Agricultural business, including secured by farmland | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 |
Prior | 0 | 0 |
Revolving Loans | 0 | 0 |
Total Loans | 0 | 0 |
Loss | Land and land development | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 |
Prior | 0 | 0 |
Revolving Loans | 0 | 0 |
Total Loans | 0 | 0 |
Current | Small balance CRE | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 16,636 | 56,544 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 86,223 | 80,090 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 83,030 | 84,749 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 89,631 | 77,637 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 83,972 | 68,791 |
Prior | 275,125 | 202,653 |
Revolving Loans | 1,059 | 2,550 |
Total Loans | 635,676 | 573,014 |
Current | Small business scored | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 36,376 | 157,161 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 148,553 | 145,037 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 134,717 | 126,578 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 114,934 | 89,734 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 78,944 | 47,909 |
Prior | 99,736 | 63,347 |
Revolving Loans | 100,192 | 109,287 |
Total Loans | 713,452 | 739,053 |
Current | One- to four- family residential | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 16,134 | 105,411 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 113,853 | 90,425 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 80,610 | 92,232 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 79,090 | 101,491 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 82,592 | 60,738 |
Prior | 276,047 | 254,850 |
Revolving Loans | 2,740 | 3,164 |
Total Loans | 651,066 | 708,311 |
Current | Consumer—home equity revolving lines of credit | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 8,652 | 10,522 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 1,216 | 2,617 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 3,046 | 2,553 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 3,089 | 3,359 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 2,484 | 1,372 |
Prior | 2,888 | 2,154 |
Revolving Loans | 442,660 | 466,490 |
Total Loans | 464,035 | 489,067 |
Current | Consumer-other | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 2,738 | 21,811 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 19,754 | 13,377 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 11,549 | 13,936 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 12,375 | 11,433 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 9,931 | 8,575 |
Prior | 24,136 | 18,802 |
Revolving Loans | 23,893 | 25,460 |
Total Loans | 104,376 | 113,394 |
30-59 Days Past Due | Small balance CRE | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 |
Prior | 895 | 0 |
Revolving Loans | 0 | 0 |
Total Loans | 895 | 0 |
30-59 Days Past Due | Small business scored | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 50 | 129 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 17 | 62 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 139 | 310 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 694 | 723 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 82 | 4 |
Prior | 357 | 1 |
Revolving Loans | 121 | 230 |
Total Loans | 1,460 | 1,459 |
30-59 Days Past Due | One- to four- family residential | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 1,051 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 277 | 0 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 1,302 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 247 | 829 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 369 | 0 |
Prior | 94 | 1,438 |
Revolving Loans | 0 | 0 |
Total Loans | 987 | 4,620 |
30-59 Days Past Due | Consumer—home equity revolving lines of credit | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 64 | 0 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 |
Prior | 193 | 50 |
Revolving Loans | 207 | 409 |
Total Loans | 464 | 459 |
30-59 Days Past Due | Consumer-other | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 48 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 35 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 15 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 13 | 22 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 2 | 46 |
Prior | 56 | 26 |
Revolving Loans | 60 | 44 |
Total Loans | 131 | 236 |
60-89 Days Past Due | Small balance CRE | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 45 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 |
Prior | 1,978 | 0 |
Revolving Loans | 0 | 0 |
Total Loans | 1,978 | 45 |
60-89 Days Past Due | Small business scored | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 98 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 755 | 147 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 54 | 3 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 89 | 140 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 47 | 0 |
Prior | 0 | 352 |
Revolving Loans | 3 | 151 |
Total Loans | 948 | 891 |
60-89 Days Past Due | One- to four- family residential | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 19 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 19 | 0 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 |
Prior | 2 | 936 |
Revolving Loans | 0 | 0 |
Total Loans | 21 | 955 |
60-89 Days Past Due | Consumer—home equity revolving lines of credit | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 202 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 109 | 0 |
Prior | 0 | 237 |
Revolving Loans | 0 | 0 |
Total Loans | 109 | 439 |
60-89 Days Past Due | Consumer-other | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 242 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 27 | 0 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 4 | 33 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 21 |
Prior | 10 | 14 |
Revolving Loans | 17 | 18 |
Total Loans | 58 | 328 |
90 Days Past Due | Small balance CRE | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 567 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 558 | 0 |
Prior | 223 | 223 |
Revolving Loans | 0 | 0 |
Total Loans | 781 | 790 |
90 Days Past Due | Small business scored | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 73 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 130 | 228 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 18 | 800 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 280 | 484 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 617 | 169 |
Prior | 597 | 248 |
Revolving Loans | 0 | 46 |
Total Loans | 1,642 | 2,048 |
90 Days Past Due | One- to four- family residential | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 41 | 0 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 114 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 972 | 1,185 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 174 | 456 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 169 |
Prior | 2,366 | 2,129 |
Revolving Loans | 0 | 0 |
Total Loans | 3,553 | 4,053 |
90 Days Past Due | Consumer—home equity revolving lines of credit | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 312 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 413 | 198 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 196 | 564 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 127 | 286 |
Prior | 556 | 255 |
Revolving Loans | 232 | 232 |
Total Loans | 1,524 | 1,847 |
90 Days Past Due | Consumer-other | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 |
Prior | 0 | 0 |
Revolving Loans | 0 | 0 |
Total Loans | $ 0 | $ 0 |
LOANS RECEIVABLE AND THE ALLO_8
LOANS RECEIVABLE AND THE ALLOWANCE FOR CREDIT LOSSES (Collateral Secured) (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | $ 22,419 | $ 19,609 |
Real Estate Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 21,369 | 18,578 |
Accounts Receivable [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 0 | 0 |
Equipment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 1,050 | 1,031 |
Inventories | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 0 | 0 |
Owner-occupied | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 4,684 | 7,506 |
Owner-occupied | Real Estate Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 4,684 | 7,506 |
Owner-occupied | Accounts Receivable [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 0 | 0 |
Owner-occupied | Equipment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 0 | 0 |
Owner-occupied | Inventories | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 0 | 0 |
Commercial real estate - investment properties | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 12,568 | 8,979 |
Commercial real estate - investment properties | Real Estate Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 12,568 | 8,979 |
Commercial real estate - investment properties | Accounts Receivable [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 0 | 0 |
Commercial real estate - investment properties | Equipment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 0 | 0 |
Commercial real estate - investment properties | Inventories | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 0 | 0 |
Small balance CRE | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 3,090 | 567 |
Small balance CRE | Real Estate Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 3,090 | 567 |
Small balance CRE | Accounts Receivable [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 0 | 0 |
Small balance CRE | Equipment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 0 | 0 |
Small balance CRE | Inventories | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 0 | 0 |
Residential Land and Land Development [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 302 | |
Residential Land and Land Development [Member] | Real Estate Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 302 | |
Residential Land and Land Development [Member] | Accounts Receivable [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 0 | |
Residential Land and Land Development [Member] | Equipment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 0 | |
Residential Land and Land Development [Member] | Inventories | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 0 | |
Commercial Business | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 630 | 557 |
Commercial Business | Real Estate Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 557 | 557 |
Commercial Business | Accounts Receivable [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 0 | 0 |
Commercial Business | Equipment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 73 | 0 |
Commercial Business | Inventories | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 0 | 0 |
Small business scored | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 90 | 91 |
Small business scored | Real Estate Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 43 | 44 |
Small business scored | Accounts Receivable [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 0 | 0 |
Small business scored | Equipment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 47 | 47 |
Small business scored | Inventories | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 0 | 0 |
Agricultural Business | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 1,357 | 1,411 |
Agricultural Business | Real Estate Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 427 | 427 |
Agricultural Business | Accounts Receivable [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 0 | 0 |
Agricultural Business | Equipment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 930 | 984 |
Agricultural Business | Inventories | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | $ 0 | 0 |
One- to Four-Family Residential | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 196 | |
One- to Four-Family Residential | Real Estate Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 196 | |
One- to Four-Family Residential | Accounts Receivable [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 0 | |
One- to Four-Family Residential | Equipment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 0 | |
One- to Four-Family Residential | Inventories | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | $ 0 |
LOANS RECEIVABLE AND THE ALLO_9
LOANS RECEIVABLE AND THE ALLOWANCE FOR CREDIT LOSSES (Age Analysis of Company's Past Due Loans) (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Financing Receivable, Past Due [Line Items] | ||
Past Due | $ 42,444 | $ 36,131 |
Current | 9,905,253 | 9,834,851 |
Total loans | 9,947,697 | 9,870,982 |
Non-accrual with no Allowance | 22,416 | 19,586 |
Nonaccrual loans | 35,031 | 32,560 |
Loans 90 days or more past due and still accruing | 1,561 | 3,054 |
Commerical real estate - owner-occupied [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 20,098 | 1,629 |
Current | 1,025,558 | 1,074,838 |
Total loans | 1,045,656 | 1,076,467 |
Non-accrual with no Allowance | 4,687 | 7,509 |
Nonaccrual loans | 5,416 | 8,429 |
Loans 90 days or more past due and still accruing | 0 | 0 |
Commercial real estate - investment properties | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 5,032 | 7,981 |
Current | 1,926,773 | 1,947,703 |
Total loans | 1,931,805 | 1,955,684 |
Non-accrual with no Allowance | 12,568 | 8,979 |
Nonaccrual loans | 12,568 | 8,979 |
Loans 90 days or more past due and still accruing | 0 | 0 |
Small balance CRE | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 3,654 | 835 |
Current | 635,676 | 573,014 |
Total loans | 639,330 | 573,849 |
Non-accrual with no Allowance | 3,086 | 567 |
Nonaccrual loans | 3,631 | 791 |
Loans 90 days or more past due and still accruing | 0 | 0 |
Multifamily Real Estate | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 0 | 0 |
Current | 433,775 | 428,223 |
Total loans | 433,775 | 428,223 |
Non-accrual with no Allowance | 0 | 0 |
Nonaccrual loans | 0 | 0 |
Loans 90 days or more past due and still accruing | 0 | 0 |
Commercial construction | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 98 | 98 |
Current | 198,939 | 228,839 |
Total loans | 199,037 | 228,937 |
Non-accrual with no Allowance | 0 | 0 |
Nonaccrual loans | 98 | 98 |
Loans 90 days or more past due and still accruing | 0 | 0 |
Multifamily construction | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 0 | 0 |
Current | 305,694 | 305,527 |
Total loans | 305,694 | 305,527 |
Non-accrual with no Allowance | 0 | 0 |
Nonaccrual loans | 0 | 0 |
Loans 90 days or more past due and still accruing | 0 | 0 |
One- to four- family construction | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 170 | 687 |
Current | 542,670 | 507,123 |
Total loans | 542,840 | 507,810 |
Non-accrual with no Allowance | 0 | 0 |
Nonaccrual loans | 687 | 331 |
Loans 90 days or more past due and still accruing | 0 | 0 |
Land and land development - residential [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 14 | 317 |
Current | 266,716 | 248,598 |
Total loans | 266,730 | 248,915 |
Non-accrual with no Allowance | 0 | 302 |
Nonaccrual loans | 201 | 507 |
Loans 90 days or more past due and still accruing | 0 | 0 |
Commercial Business | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 945 | 5,366 |
Current | 2,375,649 | 2,173,095 |
Total loans | 2,376,594 | 2,178,461 |
Non-accrual with no Allowance | 628 | 555 |
Nonaccrual loans | 1,266 | 1,988 |
Loans 90 days or more past due and still accruing | 0 | 889 |
Small business scored | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 4,050 | 4,398 |
Current | 713,452 | 739,053 |
Total loans | 717,502 | 743,451 |
Non-accrual with no Allowance | 90 | 91 |
Nonaccrual loans | 2,928 | 3,419 |
Loans 90 days or more past due and still accruing | 37 | 136 |
Agricultural business, including secured by farmland | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 1,536 | 1,883 |
Current | 260,874 | 298,066 |
Total loans | 262,410 | 299,949 |
Non-accrual with no Allowance | 1,357 | 1,412 |
Nonaccrual loans | 1,536 | 1,743 |
Loans 90 days or more past due and still accruing | 0 | 0 |
One- to four-family residential [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 4,561 | 9,628 |
Current | 651,066 | 708,311 |
Total loans | 655,627 | 717,939 |
Non-accrual with no Allowance | 0 | 171 |
Nonaccrual loans | 4,456 | 3,556 |
Loans 90 days or more past due and still accruing | 1,524 | 1,899 |
Consumer secured by one- to four-family [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 2,097 | 2,745 |
Current | 464,035 | 489,067 |
Total loans | 466,132 | 491,812 |
Non-accrual with no Allowance | 0 | 0 |
Nonaccrual loans | 2,234 | 2,697 |
Loans 90 days or more past due and still accruing | 0 | 130 |
Consumer Loan [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 189 | 564 |
Current | 104,376 | 113,394 |
Total loans | 104,565 | 113,958 |
Non-accrual with no Allowance | 0 | 0 |
Nonaccrual loans | 10 | 22 |
Loans 90 days or more past due and still accruing | 0 | 0 |
30 to 59 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 19,091 | 10,675 |
30 to 59 Days Past Due [Member] | Commerical real estate - owner-occupied [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 14,824 | 0 |
30 to 59 Days Past Due [Member] | Commercial real estate - investment properties | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 1 | 0 |
30 to 59 Days Past Due [Member] | Small balance CRE | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 895 | 0 |
30 to 59 Days Past Due [Member] | Multifamily Real Estate | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 0 | 0 |
30 to 59 Days Past Due [Member] | Commercial construction | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 0 | 0 |
30 to 59 Days Past Due [Member] | Multifamily construction | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 0 | 0 |
30 to 59 Days Past Due [Member] | One- to four- family construction | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 170 | 356 |
30 to 59 Days Past Due [Member] | Land and land development - residential [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 0 | 0 |
30 to 59 Days Past Due [Member] | Commercial Business | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 159 | 3,247 |
30 to 59 Days Past Due [Member] | Small business scored | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 1,460 | 1,459 |
30 to 59 Days Past Due [Member] | Agricultural business, including secured by farmland | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 0 | 298 |
30 to 59 Days Past Due [Member] | One- to four-family residential [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 987 | 4,620 |
30 to 59 Days Past Due [Member] | Consumer secured by one- to four-family [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 464 | 459 |
30 to 59 Days Past Due [Member] | Consumer Loan [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 131 | 236 |
60 to 89 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 9,681 | 2,908 |
60 to 89 Days Past Due [Member] | Commerical real estate - owner-occupied [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 4,687 | 182 |
60 to 89 Days Past Due [Member] | Commercial real estate - investment properties | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 1,322 | 0 |
60 to 89 Days Past Due [Member] | Small balance CRE | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 1,978 | 45 |
60 to 89 Days Past Due [Member] | Multifamily Real Estate | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 0 | 0 |
60 to 89 Days Past Due [Member] | Commercial construction | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 0 | 0 |
60 to 89 Days Past Due [Member] | Multifamily construction | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 0 | 0 |
60 to 89 Days Past Due [Member] | One- to four- family construction | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 0 | 0 |
60 to 89 Days Past Due [Member] | Land and land development - residential [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 0 | 0 |
60 to 89 Days Past Due [Member] | Commercial Business | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 558 | 31 |
60 to 89 Days Past Due [Member] | Small business scored | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 948 | 891 |
60 to 89 Days Past Due [Member] | Agricultural business, including secured by farmland | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 0 | 37 |
60 to 89 Days Past Due [Member] | One- to four-family residential [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 21 | 955 |
60 to 89 Days Past Due [Member] | Consumer secured by one- to four-family [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 109 | 439 |
60 to 89 Days Past Due [Member] | Consumer Loan [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 58 | 328 |
90 Days or More Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 13,672 | 22,548 |
90 Days or More Past Due [Member] | Commerical real estate - owner-occupied [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 587 | 1,447 |
90 Days or More Past Due [Member] | Commercial real estate - investment properties | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 3,709 | 7,981 |
90 Days or More Past Due [Member] | Small balance CRE | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 781 | 790 |
90 Days or More Past Due [Member] | Multifamily Real Estate | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 0 | 0 |
90 Days or More Past Due [Member] | Commercial construction | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 98 | 98 |
90 Days or More Past Due [Member] | Multifamily construction | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 0 | 0 |
90 Days or More Past Due [Member] | One- to four- family construction | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 0 | 331 |
90 Days or More Past Due [Member] | Land and land development - residential [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 14 | 317 |
90 Days or More Past Due [Member] | Commercial Business | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 228 | 2,088 |
90 Days or More Past Due [Member] | Small business scored | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 1,642 | 2,048 |
90 Days or More Past Due [Member] | Agricultural business, including secured by farmland | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 1,536 | 1,548 |
90 Days or More Past Due [Member] | One- to four-family residential [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 3,553 | 4,053 |
90 Days or More Past Due [Member] | Consumer secured by one- to four-family [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 1,524 | 1,847 |
90 Days or More Past Due [Member] | Consumer Loan [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | $ 0 | $ 0 |
LOANS RECEIVABLE AND THE ALL_10
LOANS RECEIVABLE AND THE ALLOWANCE FOR CREDIT LOSSES (Allowance for Loan Losses) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Financing Receivable, Allowance for Loan Losses [Roll Forward] | ||
Allowance for loan losses, Beginning balance | $ 167,279 | $ 100,559 |
Provision/(recapture) for credit losses | (8,035) | 21,713 |
Recoveries | 1,512 | 2,366 |
Charge-offs | (4,702) | (1,962) |
Allowance for loan losses, Ending balance | 156,054 | 130,488 |
Impact of Adopting ASC 326 | ||
Financing Receivable, Allowance for Loan Losses [Roll Forward] | ||
Allowance for loan losses, Beginning balance | 7,812 | |
Commercial Real Estate | ||
Financing Receivable, Allowance for Loan Losses [Roll Forward] | ||
Allowance for loan losses, Beginning balance | 57,791 | 30,591 |
Provision/(recapture) for credit losses | 5,359 | 1,545 |
Recoveries | 24 | 167 |
Charge-offs | (3,763) | (100) |
Allowance for loan losses, Ending balance | 59,411 | 29,339 |
Commercial Real Estate | Impact of Adopting ASC 326 | ||
Financing Receivable, Allowance for Loan Losses [Roll Forward] | ||
Allowance for loan losses, Beginning balance | (2,864) | |
Multifamily Real Estate | ||
Financing Receivable, Allowance for Loan Losses [Roll Forward] | ||
Allowance for loan losses, Beginning balance | 3,893 | 4,754 |
Provision/(recapture) for credit losses | 474 | 321 |
Recoveries | 0 | 0 |
Charge-offs | 0 | (66) |
Allowance for loan losses, Ending balance | 4,367 | 2,805 |
Multifamily Real Estate | Impact of Adopting ASC 326 | ||
Financing Receivable, Allowance for Loan Losses [Roll Forward] | ||
Allowance for loan losses, Beginning balance | (2,204) | |
Construction and Land | ||
Financing Receivable, Allowance for Loan Losses [Roll Forward] | ||
Allowance for loan losses, Beginning balance | 41,295 | 22,994 |
Provision/(recapture) for credit losses | (4,955) | 8,708 |
Recoveries | 100 | 0 |
Charge-offs | 0 | 0 |
Allowance for loan losses, Ending balance | 36,440 | 34,217 |
Construction and Land | Impact of Adopting ASC 326 | ||
Financing Receivable, Allowance for Loan Losses [Roll Forward] | ||
Allowance for loan losses, Beginning balance | 2,515 | |
Commercial Business | ||
Financing Receivable, Allowance for Loan Losses [Roll Forward] | ||
Allowance for loan losses, Beginning balance | 35,007 | 23,370 |
Provision/(recapture) for credit losses | (3,786) | 6,447 |
Recoveries | 979 | 205 |
Charge-offs | (789) | (1,384) |
Allowance for loan losses, Ending balance | 31,411 | 31,648 |
Commercial Business | Impact of Adopting ASC 326 | ||
Financing Receivable, Allowance for Loan Losses [Roll Forward] | ||
Allowance for loan losses, Beginning balance | 3,010 | |
Agricultural Business | ||
Financing Receivable, Allowance for Loan Losses [Roll Forward] | ||
Allowance for loan losses, Beginning balance | 4,914 | 4,120 |
Provision/(recapture) for credit losses | (297) | 1,006 |
Recoveries | 0 | 1,750 |
Charge-offs | 0 | 0 |
Allowance for loan losses, Ending balance | 4,617 | 4,513 |
Agricultural Business | Impact of Adopting ASC 326 | ||
Financing Receivable, Allowance for Loan Losses [Roll Forward] | ||
Allowance for loan losses, Beginning balance | (351) | |
One- to Four-Family Residential | ||
Financing Receivable, Allowance for Loan Losses [Roll Forward] | ||
Allowance for loan losses, Beginning balance | 9,913 | 4,136 |
Provision/(recapture) for credit losses | (2,038) | 539 |
Recoveries | 113 | 148 |
Charge-offs | 0 | (64) |
Allowance for loan losses, Ending balance | 7,988 | 11,884 |
One- to Four-Family Residential | Impact of Adopting ASC 326 | ||
Financing Receivable, Allowance for Loan Losses [Roll Forward] | ||
Allowance for loan losses, Beginning balance | 7,125 | |
Consumer | ||
Financing Receivable, Allowance for Loan Losses [Roll Forward] | ||
Allowance for loan losses, Beginning balance | 14,466 | 8,202 |
Provision/(recapture) for credit losses | (2,792) | 5,159 |
Recoveries | 296 | 96 |
Charge-offs | (150) | (348) |
Allowance for loan losses, Ending balance | 11,820 | 16,082 |
Consumer | Impact of Adopting ASC 326 | ||
Financing Receivable, Allowance for Loan Losses [Roll Forward] | ||
Allowance for loan losses, Beginning balance | 2,973 | |
Unallocated | ||
Financing Receivable, Allowance for Loan Losses [Roll Forward] | ||
Allowance for loan losses, Beginning balance | 0 | 2,392 |
Provision/(recapture) for credit losses | 0 | 0 |
Recoveries | 0 | 0 |
Charge-offs | 0 | 0 |
Allowance for loan losses, Ending balance | $ 0 | 0 |
Unallocated | Impact of Adopting ASC 326 | ||
Financing Receivable, Allowance for Loan Losses [Roll Forward] | ||
Allowance for loan losses, Beginning balance | $ (2,392) |
GOODWILL, OTHER INTANGIBLE AS_3
GOODWILL, OTHER INTANGIBLE ASSETS AND MORTGAGE SERVICING RIGHTS (Finite-Lived Intangible Assets) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2021 | Dec. 31, 2020 | |
Goodwill [Roll Forward] | ||
Goodwill, beginning of period | $ 373,121 | $ 373,121 |
Goodwill, end of period | 373,121 | 373,121 |
Finite-lived Intangible Assets [Roll Forward] | ||
Goodwill and other intangibles, net, beginning of period | 394,547 | 402,279 |
Amortization | (1,711) | (7,732) |
Goodwill and other intangibles, net, end of period | 392,836 | 394,547 |
Core Deposit Intangibles [Member] | ||
Finite-lived Intangible Assets [Roll Forward] | ||
Finite lived assets Balance, beginning of period | 21,426 | 29,158 |
Amortization | (1,711) | (7,732) |
Finite lived assets Balance, end of period | $ 19,715 | $ 21,426 |
GOODWILL, OTHER INTANGIBLE AS_4
GOODWILL, OTHER INTANGIBLE ASSETS AND MORTGAGE SERVICING RIGHTS (Estimated Annual Amortization Expense) (Details) - Core Deposit Intangibles [Member] - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Finite-Lived Intangible Assets [Line Items] | |||
Remainder of 2017 | $ 4,860 | ||
2018 | 5,317 | ||
2019 | 3,814 | ||
2020 | 2,659 | ||
2021 | 1,575 | ||
Thereafter | 1,490 | ||
Finite lived assets, net | $ 19,715 | $ 21,426 | $ 29,158 |
GOODWILL, OTHER INTANGIBLE AS_5
GOODWILL, OTHER INTANGIBLE ASSETS AND MORTGAGE SERVICING RIGHTS (Mortgage Servicing Rights) (Details) - USD ($) $ in Thousands | 3 Months Ended | |||
Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | ||
Servicing Asset at Amortized Value, Balance [Roll Forward] | ||||
Servicing Asset at Amortized Cost, Additions, Acquisitions | $ 27 | $ 63 | ||
Servicing Contracts [Member] | ||||
Morgage Servicing Rights at Amortized Value [Line Items] | ||||
Loans Serviced For Others | 2,650,000 | $ 2,640,000 | ||
Custodial Accounts | 3,700 | $ 3,800 | ||
Servicing Asset at Amortized Value, Balance [Roll Forward] | ||||
Balance, net of valuation allowance, beginning of the period | 15,223 | 14,148 | ||
Additions—amounts capitalized | 2,010 | 1,420 | ||
Amortization | [1] | (1,853) | (1,354) | |
Balance, net of valuation allowance, end of the period | [2] | 15,407 | $ 14,277 | |
Valuation allowance, end of period | $ 0 | |||
[1] | Amortization of mortgage servicing rights is recorded as a reduction of loan servicing income within mortgage banking operations and any unamortized balance is fully amortized if the loan repays in full. | |||
[2] | There was no valuation allowance as of both March 31, 2021 and 2020. |
REAL ESTATE OWNED, NET (REO Rol
REAL ESTATE OWNED, NET (REO Rollforward) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Real Estate Owned [Roll Forward] | ||
Balance, beginning of the period | $ 816 | $ 814 |
Additions from loan foreclosures | 0 | 1,588 |
Proceeds from Sale of Other Real Estate | 783 | 0 |
Gains (Losses) on Sales of Other Real Estate | (307) | 0 |
Balance, end of the period | $ 340 | $ 2,402 |
REAL ESTATE OWNED, NET REAL EST
REAL ESTATE OWNED, NET REAL ESTATE OWNED, NET (Textual) (Details) - USD ($) | Mar. 31, 2021 | Dec. 31, 2020 | Mar. 31, 2020 | Dec. 31, 2019 |
Real Estate Owned [Line Items] | ||||
Real Estate Owned | $ 340,000 | $ 816,000 | $ 2,402,000 | $ 814,000 |
Mortgage Loans in Process of Foreclosure, Amount | 609,000 | |||
One- to four-family residential [Member] | ||||
Real Estate Owned [Line Items] | ||||
Real Estate Owned | $ 0 |
DEPOSITS (Deposit Liabilities)
DEPOSITS (Deposit Liabilities) (Details) - USD ($) | Mar. 31, 2021 | Dec. 31, 2020 | |
Deposits: | |||
Non-interest-bearing accounts | $ 5,994,693,000 | $ 5,492,924,000 | |
Interest-bearing checking | 1,722,085,000 | 1,569,435,000 | |
Regular savings accounts | 2,597,731,000 | 2,398,482,000 | |
Money market accounts | 2,327,380,000 | 2,191,135,000 | |
Total interest-bearing transaction and saving accounts | 6,647,196,000 | 6,159,052,000 | |
Certificates of deposit less than or equal to $250,000 | 711,424,000 | 718,256,000 | |
Certificates of deposit greater than $250,000 | 195,554,000 | 197,064,000 | |
Total certificates of deposit | [1] | 906,978,000 | 915,320,000 |
Total deposits | 13,548,867,000 | 12,567,296,000 | |
Included in total deposits: | |||
Public fund transaction and savings accounts | 321,042,000 | 302,875,000 | |
Public fund interest-bearing certificates | 51,021,000 | 59,127,000 | |
Total public deposits | 372,063,000 | 362,002,000 | |
Total brokered deposits | 0 | 0 | |
CD acquisition premium | $ 34,000 | $ 58,000 | |
[1] | Certificates of deposit include $34,000 and $58,000 of acquisition premiums at March 31, 2021 and December 31, 2020, respectively. |
DEPOSITS DEPOSITS (Maturities a
DEPOSITS DEPOSITS (Maturities and Weighted Average Interest Rates of Certificates of Deposit) (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 | |
Maturities of Time Deposits [Abstract] | |||
Maturing in one year or less | $ 705,004 | ||
Maturing after one year through two years | 116,565 | ||
Maturing after two years through three years | 61,618 | ||
Maturing after three years through four years | 13,244 | ||
Maturing after four years through five years | 8,684 | ||
Maturing after five years | 1,863 | ||
Total certificates of deposit | [1] | $ 906,978 | $ 915,320 |
Weighted Average Rate [Abstract] | |||
Maturing in one year or less | 0.71% | ||
Maturing after one year through two years | 1.29% | ||
Maturing after two years through three years | 0.81% | ||
Maturing after three years through four years | 1.89% | ||
Maturing after four years through five years | 0.72% | ||
Maturing after five years | 0.95% | ||
Total certificates of deposit | 0.81% | ||
[1] | Certificates of deposit include $34,000 and $58,000 of acquisition premiums at March 31, 2021 and December 31, 2020, respectively. |
DEPOSITS DEPOSITS (Textual) (De
DEPOSITS DEPOSITS (Textual) (Details) - USD ($) $ in Millions | Mar. 31, 2021 | Dec. 31, 2020 |
Banking and Thrift, Other Disclosures [Abstract] | ||
Time Deposits, at or Above FDIC Insurance Limit | $ 200.8 | $ 203.6 |
FAIR VALUE OF FINANCIAL INSTR_3
FAIR VALUE OF FINANCIAL INSTRUMENTS (Fair Value By Balance Sheet Location) (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Assets: | ||
Securities—trading | $ 25,039 | $ 24,980 |
Securities—available-for-sale | 2,989,760 | 2,322,593 |
Securities—held-to-maturity | 459,595 | 448,681 |
Liabilities: | ||
FHLB advances at fair value | 100,000 | 150,000 |
Subordinated notes, net | 98,290 | 98,201 |
Carrying Value | ||
Assets: | ||
Cash and cash equivalents | 1,649,927 | 1,234,183 |
Securities—trading | 25,039 | 24,980 |
Securities—available-for-sale | 2,989,760 | 2,322,593 |
Loans receivable held for sale | 135,263 | 243,795 |
Loans receivable | 9,947,697 | 9,870,982 |
FHLB stock | 14,001 | 16,358 |
Bank-owned life insurance | 191,388 | 191,830 |
Mortgage servicing rights | 15,407 | 15,223 |
Liabilities: | ||
Demand, interest checking and money market accounts | 10,044,158 | 9,253,494 |
Regular savings | 2,597,731 | 2,398,482 |
Certificates of deposit | 906,978 | 915,320 |
FHLB advances at fair value | 100,000 | 150,000 |
Other borrowings | 216,260 | 184,785 |
Subordinated notes, net | 98,201 | |
Junior subordinated debentures at fair value | 117,248 | 116,974 |
Estimated Fair Value | ||
Assets: | ||
Cash and cash equivalents | 1,649,927 | 1,234,183 |
Securities—trading | 25,039 | 24,980 |
Securities—available-for-sale | 2,989,760 | 2,322,593 |
Loans receivable held for sale | 136,873 | 245,667 |
Loans receivable | 9,967,242 | 9,810,293 |
FHLB stock | 14,001 | 16,358 |
Bank-owned life insurance | 191,388 | 191,830 |
Mortgage servicing rights | 21,176 | 18,084 |
Liabilities: | ||
Demand, interest checking and money market accounts | 10,044,158 | 9,253,494 |
Regular savings | 2,597,731 | 2,398,482 |
Certificates of deposit | 910,069 | 919,920 |
FHLB advances at fair value | 101,908 | 152,779 |
Other borrowings | 216,260 | 184,785 |
Subordinated notes, net | 98,290 | 98,201 |
Junior subordinated debentures at fair value | 117,248 | 116,974 |
Interest rate swaps [Member] | Carrying Value | ||
Assets: | ||
Derivatives: | 25,246 | 39,066 |
Liabilities: | ||
Derivatives: | 17,923 | 22,336 |
Interest rate swaps [Member] | Estimated Fair Value | ||
Assets: | ||
Derivatives: | 25,246 | 39,066 |
Liabilities: | ||
Derivatives: | 17,923 | 22,336 |
Interest Rate Forward Sales Commitments [Member] | Carrying Value | ||
Assets: | ||
Derivatives: | 6,186 | 5,641 |
Liabilities: | ||
Derivatives: | 85 | 1,755 |
Interest Rate Forward Sales Commitments [Member] | Estimated Fair Value | ||
Assets: | ||
Derivatives: | 6,186 | 5,641 |
Liabilities: | ||
Derivatives: | 85 | 1,755 |
Fair Value, Inputs, Level 2 [Member] | Carrying Value | ||
Assets: | ||
Securities—held-to-maturity | 418,871 | 410,038 |
Fair Value, Inputs, Level 2 [Member] | Estimated Fair Value | ||
Assets: | ||
Securities—held-to-maturity | 436,484 | 436,882 |
Fair Value, Inputs, Level 3 [Member] | Carrying Value | ||
Assets: | ||
Securities—held-to-maturity | 23,084 | 11,769 |
Fair Value, Inputs, Level 3 [Member] | Estimated Fair Value | ||
Assets: | ||
Securities—held-to-maturity | $ 23,111 | $ 11,799 |
FAIR VALUE OF FINANCIAL INSTR_4
FAIR VALUE OF FINANCIAL INSTRUMENTS (Assets and Liabilities Measured on a Recurring Basis) (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 | Mar. 31, 2020 | Dec. 31, 2019 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities—trading | $ 25,039 | $ 24,980 | ||
Securities—available-for-sale | 2,989,760 | 2,322,593 | ||
Advances from FHLB | 100,000 | 150,000 | ||
Recurring [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities—available-for-sale | 2,989,760 | 2,322,593 | ||
Total assets | 3,106,224 | 2,525,834 | ||
Junior subordinated debentures net of unamortized deferred issuance costs at fair value | 117,248 | 116,974 | ||
Total liabilities | 135,256 | 141,065 | ||
Recurring [Member] | Interest rate lock and forward sale commitments [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Derivative assets | 6,186 | 39,066 | ||
Derivative liabilities | 85 | 22,336 | ||
Recurring [Member] | Interest rate swaps [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Derivative assets | 25,246 | 5,641 | ||
Derivative liabilities | 17,923 | 1,755 | ||
Recurring [Member] | U.S. Government and agency obligations [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities—available-for-sale | 62,846 | 141,735 | ||
Recurring [Member] | Municipal bonds | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities—available-for-sale | 300,735 | 303,518 | ||
Recurring [Member] | Corporate bonds | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities—available-for-sale | 245,428 | 221,769 | ||
Recurring [Member] | TPS and TRUP CDOs [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities—trading | 25,039 | 24,980 | ||
Recurring [Member] | Mortgage-backed securities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities—available-for-sale | 2,377,003 | 1,646,152 | ||
Recurring [Member] | Asset-backed securities | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities—available-for-sale | 3,748 | 9,419 | ||
Recurring [Member] | Loans [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Loans Held-for-sale, Fair Value Disclosure | 59,993 | 133,554 | ||
Recurring [Member] | Level 1 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities—available-for-sale | 0 | 0 | ||
Total assets | 0 | 0 | ||
Junior subordinated debentures net of unamortized deferred issuance costs at fair value | 0 | 0 | ||
Total liabilities | 0 | 0 | ||
Recurring [Member] | Level 1 [Member] | Interest rate lock and forward sale commitments [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Derivative assets | 0 | 0 | ||
Derivative liabilities | 0 | 0 | ||
Recurring [Member] | Level 1 [Member] | Interest rate swaps [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Derivative assets | 0 | 0 | ||
Derivative liabilities | 0 | 0 | ||
Recurring [Member] | Level 1 [Member] | U.S. Government and agency obligations [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities—available-for-sale | 0 | 0 | ||
Recurring [Member] | Level 1 [Member] | Municipal bonds | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities—available-for-sale | 0 | 0 | ||
Recurring [Member] | Level 1 [Member] | Corporate bonds | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities—available-for-sale | 0 | 0 | ||
Recurring [Member] | Level 1 [Member] | TPS and TRUP CDOs [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities—trading | 0 | 0 | ||
Recurring [Member] | Level 1 [Member] | Mortgage-backed securities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities—available-for-sale | 0 | 0 | ||
Recurring [Member] | Level 1 [Member] | Asset-backed securities | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities—available-for-sale | 0 | 0 | ||
Recurring [Member] | Level 1 [Member] | Loans [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Loans Held-for-sale, Fair Value Disclosure | 0 | 0 | ||
Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities—available-for-sale | 2,989,760 | 2,322,593 | ||
Total assets | 3,078,248 | 2,495,633 | ||
Junior subordinated debentures net of unamortized deferred issuance costs at fair value | 0 | 0 | ||
Total liabilities | 18,008 | 24,091 | ||
Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Interest rate lock and forward sale commitments [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Derivative assets | 3,249 | 39,066 | ||
Derivative liabilities | 85 | 22,336 | ||
Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Interest rate swaps [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Derivative assets | 25,246 | 420 | ||
Derivative liabilities | 17,923 | 1,755 | ||
Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | U.S. Government and agency obligations [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities—available-for-sale | 62,846 | 141,735 | ||
Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Municipal bonds | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities—available-for-sale | 300,735 | 303,518 | ||
Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Corporate bonds | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities—available-for-sale | 245,428 | 221,769 | ||
Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | TPS and TRUP CDOs [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities—trading | 0 | 0 | ||
Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Mortgage-backed securities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities—available-for-sale | 2,377,003 | 1,646,152 | ||
Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Asset-backed securities | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities—available-for-sale | 3,748 | 9,419 | ||
Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Loans [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Loans Held-for-sale, Fair Value Disclosure | 59,993 | 133,554 | ||
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities—available-for-sale | 0 | 0 | ||
Total assets | 27,976 | 30,201 | ||
Junior subordinated debentures net of unamortized deferred issuance costs at fair value | 117,248 | 116,974 | ||
Total liabilities | 117,248 | 116,974 | ||
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Interest rate lock and forward sale commitments [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Derivative assets | 2,937 | 0 | ||
Derivative liabilities | 0 | 0 | ||
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Interest rate swaps [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Derivative assets | 0 | 5,221 | $ 2,517 | $ 791 |
Derivative liabilities | 0 | 0 | ||
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | U.S. Government and agency obligations [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities—available-for-sale | 0 | 0 | ||
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Municipal bonds | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities—available-for-sale | 0 | 0 | ||
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Corporate bonds | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities—available-for-sale | 0 | 0 | ||
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | TPS and TRUP CDOs [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities—trading | 25,039 | 24,980 | ||
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Mortgage-backed securities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities—available-for-sale | 0 | 0 | ||
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Asset-backed securities | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities—available-for-sale | 0 | 0 | ||
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Loans [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Loans Held-for-sale, Fair Value Disclosure | $ 0 | $ 0 |
FAIR VALUE OF FINANCIAL INSTR_5
FAIR VALUE OF FINANCIAL INSTRUMENTS (Valuation Technique) (Details) - Fair Value, Inputs, Level 3 [Member] | 3 Months Ended | 12 Months Ended |
Mar. 31, 2021 | Dec. 31, 2020 | |
Junior Subordinated Debt [Member] | Discounted cash flows [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Fair Value Inputs, Discount Rate, Description of Variable Rate Basis | three month LIBOR | |
Corporate Bonds (TPS securities) [Member] | Weighted Average [Member] | Discounted cash flows [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Fair Value Input, Discount Rate | 4.19% | 4.24% |
Impaired Loans [Member] | Minimum [Member] | discount to appraised value [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
fair value inputs, discount to appraised value | 8.50% | 0.00% |
Impaired Loans [Member] | Maximum [Member] | discount to appraised value [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
fair value inputs, discount to appraised value | 20.00% | 20.00% |
Real Estate Owned [Member] | Weighted Average [Member] | discount to appraised value [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
fair value inputs, discount to appraised value | 68.35% | 51.86% |
Interest Rate Lock Commitments [Member] | Weighted Average [Member] | Valuation, Pricing Model [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Fair Value Input, Pull-Through Rate | 89.15% | |
Servicing Contracts [Member] | Weighted Average [Member] | Discounted cash flows [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Fair Value Input, Pull-Through Rate | 86.35% |
FAIR VALUE OF FINANCIAL INSTR_6
FAIR VALUE OF FINANCIAL INSTRUMENTS (Unobservable Inputs Reconciliation) (Details) - USD ($) $ in Thousands | 3 Months Ended | |||
Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | |
Interest rate swaps [Member] | Recurring [Member] | ||||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Derivative assets | $ 25,246 | $ 5,641 | ||
Interest rate swaps [Member] | Fair Value, Inputs, Level 3 [Member] | Recurring [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Assets gains (losses), including OTTI | (2,284) | $ 1,726 | ||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Derivative assets | 0 | 2,517 | $ 5,221 | $ 791 |
Junior Subordinated Debt [Member] | ||||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning balance | 116,974 | 119,304 | ||
Liabilities (gains) losses | 274 | (19,509) | ||
Ending balance | 117,248 | 99,795 | ||
TPS Securities [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning balance | 24,980 | 25,636 | ||
Assets gains (losses), including OTTI | 59 | (4,596) | ||
Ending balance | $ 25,039 | $ 21,040 |
FAIR VALUE OF FINANCIAL INSTR_7
FAIR VALUE OF FINANCIAL INSTRUMENTS (Assets Measured on Nonrecurring Basis) (Details) - Nonrecurring [Member] - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired loans | $ (627) | $ (3,482) | |
REO | 340 | 816 | |
Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired loans | 0 | 0 | |
REO | 0 | 0 | |
Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired loans | 0 | 0 | |
REO | 0 | 0 | |
Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired loans | (627) | (3,482) | |
REO | 340 | $ 816 | |
Gains (losses) resulting from nonrecurring fair value adjustments | 302 | $ 0 | |
Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Gains (losses) resulting from nonrecurring fair value adjustments | 302 | 0 | |
Real Estate [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Gains (losses) resulting from nonrecurring fair value adjustments | $ 0 | $ 0 |
INCOME TAXES AND DEFERRED TAX_3
INCOME TAXES AND DEFERRED TAXES INCOME TAXES AND DEFERRED TAXES (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | |
Income Tax Disclosure [Abstract] | |||
Tax credit investments | $ 32,613 | $ 33,528 | |
Unfunded commitments—tax credit investments | 15,383 | $ 18,306 | |
Tax credits and other tax benefits recognized | 1,068 | $ 1,007 | |
Tax credit amortization expense included in provision for income taxes | $ 915 | $ 809 |
CALCULATION OF WEIGHTED AVERA_3
CALCULATION OF WEIGHTED AVERAGE SHARES OUTSTANDING FOR EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | ||||
Mar. 31, 2021 | Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | |
Earnings Per Share [Abstract] | |||||
Net income | $ 46,855 | $ 38,957 | $ 36,548 | $ 23,541 | $ 16,882 |
Basic weighted average shares outstanding | 34,973,383 | 35,463,541 | |||
Dilutive effect of unvested restricted stock | 330,100 | 176,922 | |||
Diluted weighted shares outstanding | 35,303,483 | 35,640,463 | |||
Earnings per common share | |||||
Basic | $ 1.34 | $ 0.48 | |||
Diluted | $ 1.33 | $ 0.47 |
STOCK-BASED COMPENSATION PLANS
STOCK-BASED COMPENSATION PLANS (Details) - USD ($) $ in Millions | 3 Months Ended | 29 Months Ended | 62 Months Ended | 77 Months Ended | |||
Mar. 31, 2021 | Mar. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2019 | Sep. 30, 2020 | Apr. 24, 2018 | Apr. 22, 2014 | |
Restricted Stock Shares [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Share-based Compensation Expense | $ 2.2 | $ 1.9 | |||||
Compensation Cost Not yet Recognized | $ 18.5 | ||||||
Compensation Cost Not yet Recognized, Period for Recognition | 36 months | ||||||
2014 Omnibus Incentive Plan [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Number of Shares Authorized | 900,000 | ||||||
2014 Omnibus Incentive Plan [Member] | Restricted Stock Shares [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Restricted stock granted | 300,015 | ||||||
Restricted stock grants, shares vested | 3,884 | ||||||
2014 Omnibus Incentive Plan [Member] | Restricted Stock Units (RSUs) [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Restricted stock granted | 403,440 | ||||||
Restricted stock grants, shares vested | 148,093 | ||||||
2018 Omnibus Incentive Plan [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Number of Shares Authorized | 900,000 | ||||||
2018 Omnibus Incentive Plan [Member] | Restricted Stock Units (RSUs) [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Restricted stock granted | 503,955 |
COMMITMENTS AND CONTINGENCIES_2
COMMITMENTS AND CONTINGENCIES (Commitments Without Recorded Liability) (Details) - USD ($) | 3 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Reserve for Unfunded Loan Commitments | $ 12,100,000 | $ 13,300,000 | |
Mortgage loan applications, day interest rate is locked | 45 days | ||
Minimum [Member] | |||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Mortgage loan applications, day interest rate is locked | 30 days | ||
Maximum [Member] | |||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Mortgage loan applications, day interest rate is locked | 60 days | ||
Commitments to Extend Credit [Member] | |||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Contract or Notional Amount | $ 3,357,135,000 | 3,207,072,000 | |
Financial Standby Letter of Credit [Member] | |||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Contract or Notional Amount | 21,493,000 | 18,415,000 | |
Loan Origination Commitments [Member] | |||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Contract or Notional Amount | 134,759,000 | 101,426,000 | |
Risk Participation Agreement [Member] | |||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Contract or Notional Amount | 40,789,000 | 40,949,000 | |
Loans Held for Sale Origination Commitments [Member] | |||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Contract or Notional Amount | 165,236,000 | 169,653,000 | |
Commitments to Sell Loans Secured by one to four Residential Properties [Member] | |||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Contract or Notional Amount | 82,963,000 | 79,414,000 | |
Counterparty default losses on forward contracts | 0 | $ 0 | |
Commitments to Sell Mortgage Backed Securities [Member] | |||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Contract or Notional Amount | 199,500,000 | 204,000,000 | |
Amount funded out of a total commitment to invest [Member] | |||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Other Commitment | 4,200,000 | 2,800,000 | |
Amount unfunded out of a total commitment to invest [Member] | |||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Other Commitment | $ 5,800,000 | $ 7,200,000 |
DERIVATIVES AND HEDGING (Deriva
DERIVATIVES AND HEDGING (Derivatives Designated as Hedging, by Balance Sheet Location) (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives, Fair Value | $ 25,246 | $ 39,066 |
Liability Derivatives, Fair Value | 23,877 | 39,204 |
Interest rate swaps [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives, Fair Value | 25,246 | 39,066 |
Liability Derivatives, Fair Value | 23,877 | 39,204 |
Interest rate swaps [Member] | Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives, Notional/Contract Amount | 248 | 338 |
Liability Derivatives, Notional/Contract Amount | 248 | 338 |
Interest rate swaps [Member] | Designated as Hedging Instrument [Member] | Loans Receivable [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives, Fair Value | 5 | 9 |
Interest rate swaps [Member] | Designated as Hedging Instrument [Member] | Other liabilities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Liability Derivatives, Fair Value | $ 5 | $ 9 |
DERIVATIVES AND HEDGING (Deri_2
DERIVATIVES AND HEDGING (Derivatives Not Designated as Hedging, by Balance Sheet Location) (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives, Fair Value | $ 25,246 | $ 39,066 |
Liability Derivatives, Fair Value | 23,877 | 39,204 |
Interest rate swaps [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives, Fair Value | 25,246 | 39,066 |
Liability Derivatives, Fair Value | 23,877 | 39,204 |
Not Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives, Notional/Contract Amount | 880,249 | 671,564 |
Liability Derivatives, Notional/Contract Amount | 520,385 | 728,271 |
Not Designated as Hedging Instrument [Member] | Other assets [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives, Fair Value | 31,427 | 44,698 |
Not Designated as Hedging Instrument [Member] | Other liabilities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Liability Derivatives, Fair Value | 18,003 | 24,082 |
Not Designated as Hedging Instrument [Member] | Interest rate swaps [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives, Notional/Contract Amount | 458,118 | 451,760 |
Liability Derivatives, Notional/Contract Amount | 458,118 | 451,760 |
Not Designated as Hedging Instrument [Member] | Interest rate swaps [Member] | Other assets [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives, Fair Value | 25,241 | 39,057 |
Not Designated as Hedging Instrument [Member] | Interest rate swaps [Member] | Loans Receivable [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives, Fair Value | 246 | 231 |
Not Designated as Hedging Instrument [Member] | Interest rate swaps [Member] | Other liabilities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Liability Derivatives, Fair Value | 17,918 | 22,327 |
Not Designated as Hedging Instrument [Member] | Mortgage loan commitments [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives, Notional/Contract Amount | 139,668 | 140,390 |
Liability Derivatives, Notional/Contract Amount | 62,267 | 72,511 |
Not Designated as Hedging Instrument [Member] | Mortgage loan commitments [Member] | Other assets [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives, Fair Value | 2,937 | 5,221 |
Not Designated as Hedging Instrument [Member] | Mortgage loan commitments [Member] | Other liabilities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Liability Derivatives, Fair Value | 85 | 199 |
Not Designated as Hedging Instrument [Member] | Forward Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives, Notional/Contract Amount | 282,463 | 79,414 |
Liability Derivatives, Notional/Contract Amount | 0 | 204,000 |
Not Designated as Hedging Instrument [Member] | Forward Contracts [Member] | Other assets [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives, Fair Value | 3,249 | 420 |
Not Designated as Hedging Instrument [Member] | Forward Contracts [Member] | Other liabilities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Liability Derivatives, Fair Value | $ 0 | $ 1,556 |
DERIVATIVES AND HEDGING (Gain (
DERIVATIVES AND HEDGING (Gain (Loss) On Derivatives Not Designated in Hedging Relationship) (Details) - Not Designated as Hedging Instrument [Member] - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gain (loss) recognized in income, net | $ 727 | $ (1,342) |
Mortgage loan commitments [Member] | Mortgage banking operations [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gain (loss) recognized in income, net | (2,284) | 1,726 |
Forward sales contracts [Member] | Mortgage banking operations [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gain (loss) recognized in income, net | $ 3,011 | $ (3,068) |
DERIVATIVES AND HEDGING (Narrat
DERIVATIVES AND HEDGING (Narrative) (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||
Derivative net liability position | $ 24,100 | $ 48,600 |
Collateral posted | 55,700 | 47,100 |
Offsetting Assets and Liabilities [Line Items] | ||
Derivative Liabilities, Amounts offset in the Statement of Financial Condition | (5,954) | (16,868) |
Interest rate swaps [Member] | ||
Offsetting Assets and Liabilities [Line Items] | ||
Derivative Liabilities, Amounts offset in the Statement of Financial Condition | $ (5,954) | $ (16,868) |
DERIVATIVES AND HEDGING (Deri_3
DERIVATIVES AND HEDGING (Derivative Offsetting) (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Offsetting Derivative Assets [Abstract] | ||
Derivative Assets, Gross Amounts Recognized | $ 25,246 | $ 39,066 |
Derivative Assets, Amounts offsett in the Statement of Financial Condition | 0 | 0 |
Derivative Assets, Net Amounts in the Statement of Financial Condition | 25,246 | 39,066 |
Derivative Assets, Netting Adjustment Per Applicable Master Netting Agreements | 0 | 0 |
Derivative Assets, Fair Value of Financial Collateral in the Statement of Financial Condiation | 0 | 0 |
Derivative Assets, Net Amount | 25,246 | 39,066 |
Offsetting Derivative Liabilities [Abstract] | ||
Derivative Liabilities, Gross Amounts Recognized | 23,877 | 39,204 |
Derivative Liabilities, Amounts offset in the Statement of Financial Condition | (5,954) | (16,868) |
Derivative Liabilities, Net Amounts of the Statement of Financial Condition | 17,923 | 22,336 |
Derivative Liabilities, Net Adjustment Per Applicable Master Netting Agreements | 0 | 0 |
Derivative Liabilities, Fair Value of Financial Collateral in the Statement of Financial Condition | (12,881) | (22,220) |
Derivative Liabilities, Net Amount | 5,042 | 116 |
Interest rate swaps [Member] | ||
Offsetting Derivative Assets [Abstract] | ||
Derivative Assets, Gross Amounts Recognized | 25,246 | 39,066 |
Derivative Assets, Amounts offsett in the Statement of Financial Condition | 0 | 0 |
Derivative Assets, Net Amounts in the Statement of Financial Condition | 25,246 | 39,066 |
Derivative Assets, Netting Adjustment Per Applicable Master Netting Agreements | 0 | 0 |
Derivative Assets, Fair Value of Financial Collateral in the Statement of Financial Condiation | 0 | 0 |
Derivative Assets, Net Amount | 25,246 | 39,066 |
Offsetting Derivative Liabilities [Abstract] | ||
Derivative Liabilities, Gross Amounts Recognized | 23,877 | 39,204 |
Derivative Liabilities, Amounts offset in the Statement of Financial Condition | (5,954) | (16,868) |
Derivative Liabilities, Net Amounts of the Statement of Financial Condition | 17,923 | 22,336 |
Derivative Liabilities, Net Adjustment Per Applicable Master Netting Agreements | 0 | 0 |
Derivative Liabilities, Fair Value of Financial Collateral in the Statement of Financial Condition | (12,881) | (22,220) |
Derivative Liabilities, Net Amount | $ 5,042 | $ 116 |
REVENUE FROM CONTRACTS WITH C_3
REVENUE FROM CONTRACTS WITH CUSTOMERS (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Disaggregation of Revenue [Line Items] | ||
Debit and credit card interchange fees | $ 5,290 | $ 4,884 |
Debit and credit card expense | 2,520 | 1,932 |
Merchant services expense | 2,532 | 2,436 |
Other service charges | 1,446 | 1,453 |
Total deposit fees and other service charges | 8,939 | 9,803 |
Deposit service charges | ||
Disaggregation of Revenue [Line Items] | ||
Deposit service charges | 4,113 | 4,832 |
Merchant services income | ||
Disaggregation of Revenue [Line Items] | ||
Deposit service charges | $ 3,142 | $ 3,002 |