Commitments and Contingent Liabilities

12 Months Ended

Dec. 31, 2020

Commitments And Contingencies Disclosure [Abstract]

6.	Commitments and Contingent Liabilities

Loan Commitments

Loan commitments are made to accommodate the financial needs of the Bank’s customers. Standby letters of credit commit the Company to make payments on behalf of customers when certain specified future events occur. They primarily are issued to facilitate customers’ trade transactions.

Both arrangements have credit risk, essentially the same as that involved in extending loans to customers, and are subject to the Company’s normal credit policies. Collateral (e.g., securities, receivables, inventory and equipment) is obtained based on management’s credit assessment of the customer.

The Company’s maximum obligation to extend credit for loan commitments (unfunded loans and unused lines of credit) and standby letters of credit outstanding on December 31 was as follows (in thousands):

	2020				2019
	Fixed Rate		Variable Rate		Fixed Rate		Variable Rate
Commitments to make loans	$	409,813	$	292,290	$	55,013	$	123,798
Unused lines of credit		74,364		844,106		7,625		425,484
Standby letters of credit		—		22,250		—		14,215
Total	$	484,177	$	1,158,646	$	62,638	$	563,497

Commitments to make loans are generally made for periods of 60 days or less. The fixed rate loan commitments at December 31, 2020, had interest rates ranging from 0.00% to 25.00% and maturities ranging from less than one year to 37 years.