(State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification Number) |
Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[x] | No | [ ] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[x] | No | [ ] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[x] | Accelerated filer [ ] | Non-accelerated filer [ ] | Smaller reporting company | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Emerging growth company | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). | Yes | No | [x] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
APPLICABLE ONLY TO CORPORATE ISSUERS | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Title of class: | As of October 31, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock, $.01 par value per share | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
PART I – FINANCIAL INFORMATION | |||||
Item 1 – Financial Statements. The Unaudited Condensed Consolidated Financial Statements of Banner Corporation and Subsidiaries filed as a part of the report are as follows: | |||||
Consolidated Statements of Financial Condition as of September 30, 2021 and December 31, 2020 | |||||
Consolidated Statements of Operations for the Three and Nine Months Ended September 30, 2021 and 2020 | |||||
Consolidated Statements of Comprehensive Income for the Three and Nine Months Ended September 30, 2021 and 2020 | |||||
Consolidated Statements of Changes in Shareholders’ Equity for the Three and Nine Months Ended September 30, 2021 and the Year Ended December 31, 2020 | |||||
Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2021 and 2020 | |||||
Selected Notes to the Consolidated Financial Statements | |||||
Item 2 – Management’s Discussion and Analysis of Financial Condition and Results of Operations | |||||
Executive Overview | |||||
Comparison of Financial Condition at September 30, 2021 and December 31, 2020 | |||||
Comparison of Results of Operations for the Three and Nine Months Ended September 30, 2021 and 2020 | |||||
Asset Quality | |||||
Liquidity and Capital Resources | |||||
Capital Requirements | |||||
Item 3 – Quantitative and Qualitative Disclosures About Market Risk | |||||
Market Risk and Asset/Liability Management | |||||
Sensitivity Analysis | |||||
Item 4 – Controls and Procedures | |||||
PART II – OTHER INFORMATION | |||||
Item 1 – Legal Proceedings | |||||
Item 1A – Risk Factors | |||||
Item 2 – Unregistered Sales of Equity Securities and Use of Proceeds | |||||
Item 3 – Defaults upon Senior Securities | |||||
Item 4 – Mine Safety Disclosures | |||||
Item 5 – Other Information | |||||
Item 6 – Exhibits | |||||
SIGNATURES |
ASSETS | September 30, 2021 | December 31, 2020 | |||||||||
Cash and due from banks | $ | $ | |||||||||
Interest bearing deposits | |||||||||||
Total cash and cash equivalents | |||||||||||
Securities—trading | |||||||||||
Securities—available-for-sale, amortized cost $ | |||||||||||
Securities—held-to-maturity, net of allowance for credit losses of $ | |||||||||||
Total securities | |||||||||||
Federal Home Loan Bank (FHLB) stock | |||||||||||
Securities purchased under agreements to resell | |||||||||||
Loans held for sale (includes $ | |||||||||||
Loans receivable | |||||||||||
Allowance for credit losses – loans | ( | ( | |||||||||
Net loans receivable | |||||||||||
Accrued interest receivable | |||||||||||
Real estate owned (REO), held for sale, net | |||||||||||
Property and equipment, net | |||||||||||
Goodwill | |||||||||||
Other intangibles, net | |||||||||||
Bank-owned life insurance (BOLI) | |||||||||||
Deferred tax assets, net | |||||||||||
Operating lease right-of-use assets | |||||||||||
Other assets | |||||||||||
Total assets | $ | $ | |||||||||
LIABILITIES | |||||||||||
Deposits: | |||||||||||
Non-interest-bearing | $ | $ | |||||||||
Interest-bearing transaction and savings accounts | |||||||||||
Interest-bearing certificates | |||||||||||
Total deposits | |||||||||||
Advances from FHLB | |||||||||||
Other borrowings | |||||||||||
Subordinated notes, net | |||||||||||
Junior subordinated debentures at fair value (issued in connection with Trust Preferred Securities) | |||||||||||
Operating lease liabilities | |||||||||||
Accrued expenses and other liabilities | |||||||||||
Deferred compensation | |||||||||||
Total liabilities | |||||||||||
COMMITMENTS AND CONTINGENCIES (Note 12) | |||||||||||
SHAREHOLDERS’ EQUITY | |||||||||||
Preferred stock - $ | |||||||||||
Common stock and paid in capital - $ | |||||||||||
Common stock (non-voting) and paid in capital - $ | |||||||||||
Retained earnings | |||||||||||
Carrying value of shares held in trust for stock-based compensation plans | ( | ( | |||||||||
Liability for common stock issued to stock related compensation plans | |||||||||||
Accumulated other comprehensive income | |||||||||||
Total shareholders’ equity | |||||||||||
Total liabilities and shareholders’ equity | $ | $ |
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
INTEREST INCOME: | |||||||||||||||||||||||
Loans receivable | $ | $ | $ | $ | |||||||||||||||||||
Mortgage-backed securities | |||||||||||||||||||||||
Securities and cash equivalents | |||||||||||||||||||||||
Total interest income | |||||||||||||||||||||||
INTEREST EXPENSE: | |||||||||||||||||||||||
Deposits | |||||||||||||||||||||||
FHLB advances | |||||||||||||||||||||||
Other borrowings | |||||||||||||||||||||||
Subordinated debt | |||||||||||||||||||||||
Total interest expense | |||||||||||||||||||||||
Net interest income | |||||||||||||||||||||||
(RECAPTURE)/PROVISION FOR CREDIT LOSSES | ( | ( | |||||||||||||||||||||
Net interest income after (recapture)/provision for credit losses | |||||||||||||||||||||||
NON-INTEREST INCOME: | |||||||||||||||||||||||
Deposit fees and other service charges | |||||||||||||||||||||||
Mortgage banking operations | |||||||||||||||||||||||
Bank-owned life insurance (BOLI) | |||||||||||||||||||||||
Miscellaneous | |||||||||||||||||||||||
Net gain on sale of securities | |||||||||||||||||||||||
Net change in valuation of financial instruments carried at fair value | ( | ||||||||||||||||||||||
Total non-interest income | |||||||||||||||||||||||
NON-INTEREST EXPENSE: | |||||||||||||||||||||||
Salary and employee benefits | |||||||||||||||||||||||
Less capitalized loan origination costs | ( | ( | ( | ( | |||||||||||||||||||
Occupancy and equipment | |||||||||||||||||||||||
Information/computer data services | |||||||||||||||||||||||
Payment and card processing expenses | |||||||||||||||||||||||
Professional and legal expenses | |||||||||||||||||||||||
Advertising and marketing | |||||||||||||||||||||||
Deposit insurance expense | |||||||||||||||||||||||
State/municipal business and use taxes | |||||||||||||||||||||||
REO operations, net | ( | ( | |||||||||||||||||||||
Amortization of core deposit intangibles | |||||||||||||||||||||||
Miscellaneous | |||||||||||||||||||||||
COVID-19 expenses | |||||||||||||||||||||||
Merger and acquisition - related expenses | |||||||||||||||||||||||
Total non-interest expense | |||||||||||||||||||||||
Income before provision for income taxes | |||||||||||||||||||||||
PROVISION FOR INCOME TAXES | |||||||||||||||||||||||
NET INCOME | $ | $ | $ | $ | |||||||||||||||||||
Earnings per common share: | |||||||||||||||||||||||
Basic | $ | $ | $ | $ | |||||||||||||||||||
Diluted | $ | $ | $ | $ | |||||||||||||||||||
Cumulative dividends declared per common share | $ | $ | $ | $ | |||||||||||||||||||
Weighted average number of common shares outstanding: | |||||||||||||||||||||||
Basic | |||||||||||||||||||||||
Diluted |
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
NET INCOME | $ | $ | $ | $ | |||||||||||||||||||
OTHER COMPREHENSIVE INCOME, NET OF INCOME TAXES: | |||||||||||||||||||||||
Unrealized holding (loss) gain on available-for-sale securities arising during the period | ( | ( | ( | ||||||||||||||||||||
Income tax benefit (expense) related to available-for-sale securities unrealized holding (loss) gain | ( | ||||||||||||||||||||||
Reclassification for net gain on available-for-sale securities realized in earnings | ( | ( | ( | ( | |||||||||||||||||||
Income tax expense related to available-for-sale securities realized in earnings | |||||||||||||||||||||||
Changes in fair value of junior subordinated debentures related to instrument specific credit risk | ( | ( | ( | ||||||||||||||||||||
Income tax benefit (expense) related to junior subordinated debentures | ( | ||||||||||||||||||||||
Other comprehensive (loss) income | ( | ( | ( | ||||||||||||||||||||
COMPREHENSIVE INCOME | $ | $ | $ | $ |
Common Stock and Paid in Capital | Retained Earnings | Accumulated Other Comprehensive Income | Shareholders’ Equity | ||||||||||||||||||||||||||
Shares | Amount | ||||||||||||||||||||||||||||
Balance, January 1, 2020 | $ | $ | $ | $ | |||||||||||||||||||||||||
New credit standard (Accounting Standards Codification (ASC) 326) - impact in year of adoption | ( | ( | |||||||||||||||||||||||||||
Net income | |||||||||||||||||||||||||||||
Other comprehensive income, net of income tax | |||||||||||||||||||||||||||||
Accrual of dividends on common stock ($ | ( | ( | |||||||||||||||||||||||||||
Amortization of stock-based compensation related to restricted stock grants, net of shares surrendered | ( | ||||||||||||||||||||||||||||
Repurchase of common stock | ( | ( | ( | ||||||||||||||||||||||||||
Balance, March 31, 2020 | $ | $ | $ | $ |
Common Stock and Paid in Capital | Retained Earnings | Accumulated Other Comprehensive Income | Shareholders’ Equity | ||||||||||||||||||||||||||
Shares | Amount | ||||||||||||||||||||||||||||
Balance, April 1, 2020 | $ | $ | $ | $ | |||||||||||||||||||||||||
Net income | |||||||||||||||||||||||||||||
Other comprehensive loss, net of income tax | ( | ( | |||||||||||||||||||||||||||
Adjustment to previously accrued dividends | ( | ( | |||||||||||||||||||||||||||
Amortization of stock-based compensation related to restricted stock grants, net of shares surrendered | |||||||||||||||||||||||||||||
Balance, June 30, 2020 | $ | $ | $ | $ |
Common Stock and Paid in Capital | Retained Earnings | Accumulated Other Comprehensive Income | Shareholders’ Equity | ||||||||||||||||||||||||||
Shares | Amounts | ||||||||||||||||||||||||||||
Balance, July 1, 2020 | $ | $ | $ | $ | |||||||||||||||||||||||||
Net income | |||||||||||||||||||||||||||||
Other comprehensive loss, net of income tax | ( | ( | |||||||||||||||||||||||||||
Accrual of dividends on common stock ($ | ( | ( | |||||||||||||||||||||||||||
Amortization of stock-based compensation related to restricted stock grants, net of shares surrendered | |||||||||||||||||||||||||||||
Balance, September 30, 2020 | $ | $ | $ | $ |
Common Stock and Paid in Capital | Retained Earnings | Accumulated Other Comprehensive Income | Shareholders’ Equity | ||||||||||||||||||||||||||
Shares | Amounts | ||||||||||||||||||||||||||||
Balance, October 1, 2020 | $ | $ | $ | $ | |||||||||||||||||||||||||
Net income | |||||||||||||||||||||||||||||
Other comprehensive loss, net of income tax | ( | ( | |||||||||||||||||||||||||||
Accrual of dividends on common stock ($ | ( | ( | |||||||||||||||||||||||||||
Amortization of stock-based compensation related to restricted stock grants, net of shares surrendered | |||||||||||||||||||||||||||||
Balance, December 31, 2020 | $ | $ | $ | $ |
Common Stock and Paid in Capital | Retained Earnings | Accumulated Other Comprehensive Income | Shareholders’ Equity | ||||||||||||||||||||||||||
Shares | Amount | ||||||||||||||||||||||||||||
Balance, January 1, 2021 | $ | $ | $ | $ | |||||||||||||||||||||||||
Net income | |||||||||||||||||||||||||||||
Other comprehensive loss, net of income tax | ( | ( | |||||||||||||||||||||||||||
Accrual of dividends on common stock ($ | ( | ( | |||||||||||||||||||||||||||
Amortization of stock-based compensation related to restricted stock grants, net of shares surrendered | |||||||||||||||||||||||||||||
Repurchase of common stock | ( | ( | ( | ||||||||||||||||||||||||||
Balance, March 31, 2021 | $ | $ | $ | $ |
Common Stock and Paid in Capital | Retained Earnings | Accumulated Other Comprehensive Income | Shareholders’ Equity | ||||||||||||||||||||||||||
Shares | Amount | ||||||||||||||||||||||||||||
Balance, April 1, 2021 | $ | $ | $ | $ | |||||||||||||||||||||||||
Net income | |||||||||||||||||||||||||||||
Other comprehensive income, net of income tax | |||||||||||||||||||||||||||||
Accrual of dividends on common stock ($ | ( | ( | |||||||||||||||||||||||||||
Amortization of stock-based compensation related to restricted stock grants, net of shares surrendered | ( | ( | |||||||||||||||||||||||||||
Repurchase of common stock | ( | ( | ( | ||||||||||||||||||||||||||
Balance, June 30, 2021 | $ | $ | $ | $ | |||||||||||||||||||||||||
Common Stock and Paid in Capital | Retained Earnings | Accumulated Other Comprehensive Income | Shareholders’ Equity | ||||||||||||||||||||||||||
Shares | Amount | ||||||||||||||||||||||||||||
Balance, July 1, 2021 | $ | $ | $ | $ | |||||||||||||||||||||||||
Net income | |||||||||||||||||||||||||||||
Other comprehensive loss, net of income tax | ( | ( | |||||||||||||||||||||||||||
Accrual of dividends on common stock ($ | ( | ( | |||||||||||||||||||||||||||
Amortization of stock-based compensation related to restricted stock grants, net of shares surrendered | |||||||||||||||||||||||||||||
Repurchase of common stock | ( | ( | ( | ||||||||||||||||||||||||||
Balance, September 30, 2021 | $ | $ | $ | $ | |||||||||||||||||||||||||
Nine Months Ended September 30, | |||||||||||
2021 | 2020 | ||||||||||
OPERATING ACTIVITIES: | |||||||||||
Net income | $ | $ | |||||||||
Adjustments to reconcile net income to net cash provided from operating activities: | |||||||||||
Depreciation | |||||||||||
Deferred income/expense and capitalized servicing rights, net of amortization | ( | ( | |||||||||
Amortization of core deposit intangibles | |||||||||||
Gain on sale of securities, net | ( | ( | |||||||||
Net change in valuation of financial instruments carried at fair value | ( | ||||||||||
Reinvested dividends – equity securities | ( | ||||||||||
Increase in deferred taxes | ( | ( | |||||||||
Increase in current taxes payable | |||||||||||
Stock-based compensation | |||||||||||
Net change in cash surrender value of BOLI | ( | ( | |||||||||
Gain on sale of loans, excluding capitalized servicing rights | ( | ( | |||||||||
(Gain) loss on disposal of real estate held for sale and property and equipment, net | ( | ||||||||||
(Recapture) provision for credit losses | ( | ||||||||||
Provision for losses on real estate held for sale | |||||||||||
Origination of loans held for sale | ( | ( | |||||||||
Proceeds from sales of loans held for sale | |||||||||||
Net change in: | |||||||||||
Other assets | ( | ||||||||||
Other liabilities | |||||||||||
Net cash provided from operating activities | |||||||||||
INVESTING ACTIVITIES: | |||||||||||
Purchases of securities—available-for-sale | ( | ( | |||||||||
Principal repayments and maturities of securities—available-for-sale | |||||||||||
Proceeds from sales of securities—available-for-sale | |||||||||||
Purchases of securities—held-to-maturity | ( | ( | |||||||||
Principal repayments and maturities of securities—held-to-maturity | |||||||||||
Purchases of equity securities | ( | ( | |||||||||
Proceeds from sales of equity securities | |||||||||||
Loan repayments (originations), net | ( | ||||||||||
Purchases of loans and participating interest in loans | ( | ( | |||||||||
Proceeds from sales of other loans | |||||||||||
Purchases of property and equipment | ( | ( | |||||||||
Proceeds from sale of real estate held for sale and sale of other property | |||||||||||
Proceeds from FHLB stock repurchase program | |||||||||||
Purchase of FHLB stock | ( | ||||||||||
Purchase of securities purchased under agreements to resell | ( | ||||||||||
Other | |||||||||||
Net cash used in investing activities | ( | ( | |||||||||
FINANCING ACTIVITIES: | |||||||||||
Increase in deposits, net | |||||||||||
Repayment of long term FHLB advances | ( | ||||||||||
Repayment of overnight and short term FHLB advances, net | ( | ||||||||||
Increase in other borrowings, net | |||||||||||
Net proceeds from issuance of subordinated notes | |||||||||||
Cash dividends paid | ( | ( | |||||||||
Taxes paid related to net share settlement of equity awards | ( | ( | |||||||||
Cash paid for the repurchase of common stock | ( | ( | |||||||||
Net cash provided from financing activities | |||||||||||
NET CHANGE IN CASH AND CASH EQUIVALENTS | |||||||||||
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | |||||||||||
CASH AND CASH EQUIVALENTS, END OF PERIOD | $ | $ |
Nine Months Ended September 30, | |||||||||||
2021 | 2020 | ||||||||||
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | |||||||||||
Interest paid in cash | $ | $ | |||||||||
Tax paid (refunds received) | ( | ||||||||||
NON-CASH INVESTING AND FINANCING TRANSACTIONS: | |||||||||||
Transfer of loans to real estate owned and other repossessed assets | |||||||||||
Dividends accrued but not paid until after period end | |||||||||||
September 30, 2021 | |||||||||||
Amortized Cost | Fair Value | ||||||||||
Trading: | |||||||||||
Corporate bonds | $ | $ | |||||||||
$ | $ |
September 30, 2021 | |||||||||||||||||||||||||||||
Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Allowance for Credit Losses | Fair Value | |||||||||||||||||||||||||
Available-for-Sale: | |||||||||||||||||||||||||||||
U.S. Government and agency obligations | $ | $ | $ | ( | $ | $ | |||||||||||||||||||||||
Municipal bonds | ( | ||||||||||||||||||||||||||||
Corporate bonds | ( | ||||||||||||||||||||||||||||
Mortgage-backed or related securities | ( | ||||||||||||||||||||||||||||
Asset-backed securities | |||||||||||||||||||||||||||||
$ | $ | $ | ( | $ | $ |
September 30, 2021 | |||||||||||||||||||||||||||||
Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair Value | Allowance for Credit Losses | |||||||||||||||||||||||||
Held-to-Maturity: | |||||||||||||||||||||||||||||
U.S. Government and agency obligations | $ | $ | $ | $ | $ | ||||||||||||||||||||||||
Municipal bonds | ( | ( | |||||||||||||||||||||||||||
Corporate bonds | ( | ( | |||||||||||||||||||||||||||
Mortgage-backed or related securities | ( | ||||||||||||||||||||||||||||
$ | $ | $ | ( | $ | $ | ( |
December 31, 2020 | |||||||||||
Amortized Cost | Fair Value | ||||||||||
Trading: | |||||||||||
Corporate bonds | $ | $ | |||||||||
$ | $ |
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 | $ | $ | $ | ( | $ | $ | |||||||||||||||||||||||
Municipal bonds | ( | ||||||||||||||||||||||||||||
Corporate bonds | ( | ||||||||||||||||||||||||||||
Mortgage-backed or related securities | ( | ||||||||||||||||||||||||||||
Asset-backed securities | ( | ||||||||||||||||||||||||||||
$ | $ | $ | ( | $ | $ |
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 | $ | $ | $ | $ | $ | ||||||||||||||||||||||||
Municipal bonds | ( | ( | |||||||||||||||||||||||||||
Corporate bonds | ( | ( | |||||||||||||||||||||||||||
Mortgage-backed or related securities | |||||||||||||||||||||||||||||
$ | $ | $ | ( | $ | $ | ( |
September 30, 2021 | |||||||||||||||||||||||||||||||||||
Less Than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||||||||||||
Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | ||||||||||||||||||||||||||||||
Available-for-Sale: | |||||||||||||||||||||||||||||||||||
U.S. Government and agency obligations | $ | $ | ( | $ | $ | ( | $ | $ | ( | ||||||||||||||||||||||||||
Municipal bonds | ( | ( | |||||||||||||||||||||||||||||||||
Corporate bonds | ( | ( | |||||||||||||||||||||||||||||||||
Mortgage-backed or related securities | ( | ( | ( | ||||||||||||||||||||||||||||||||
$ | $ | ( | $ | $ | ( | $ | $ | ( |
December 31, 2020 | |||||||||||||||||||||||||||||||||||
Less Than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||||||||||||
Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | ||||||||||||||||||||||||||||||
Available-for-Sale: | |||||||||||||||||||||||||||||||||||
U.S. Government and agency obligations | $ | $ | ( | $ | $ | ( | $ | $ | ( | ||||||||||||||||||||||||||
Municipal bonds | ( | ( | |||||||||||||||||||||||||||||||||
Corporate bonds | ( | ( | |||||||||||||||||||||||||||||||||
Mortgage-backed or related securities | ( | ( | ( | ||||||||||||||||||||||||||||||||
Asset-backed securities | ( | ( | |||||||||||||||||||||||||||||||||
$ | $ | ( | $ | $ | ( | $ | $ | ( |
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
Available-for-Sale: | |||||||||||||||||||||||
Gross Gains | $ | $ | $ | $ | |||||||||||||||||||
Gross Losses | ( | ( | ( | ( | |||||||||||||||||||
Balance, end of the period | $ | $ | $ | $ |
September 30, 2021 | |||||||||||||||||||||||||||||||||||
Trading | Available-for-Sale | Held-to-Maturity | |||||||||||||||||||||||||||||||||
Amortized Cost | Fair Value | Amortized Cost | Fair Value | Amortized Cost | Fair Value | ||||||||||||||||||||||||||||||
Maturing in one year or less | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||
Maturing after one year through five years | |||||||||||||||||||||||||||||||||||
Maturing after five years through ten years | |||||||||||||||||||||||||||||||||||
Maturing after ten years through twenty years | |||||||||||||||||||||||||||||||||||
Maturing after twenty years | |||||||||||||||||||||||||||||||||||
$ | $ | $ | $ | $ | $ |
September 30, 2021 | |||||||||||||||||
Carrying Value | Amortized Cost | Fair Value | |||||||||||||||
Purpose or beneficiary: | |||||||||||||||||
State and local governments public deposits | $ | $ | $ | ||||||||||||||
Interest rate swap counterparties | |||||||||||||||||
Repurchase agreements | |||||||||||||||||
Other | |||||||||||||||||
Total pledged securities | $ | $ | $ |
September 30, 2021 | |||||||||||||||||||||||||||||
U.S. Government and agency obligations | Municipal bonds | Corporate bonds | Mortgage-backed or related securities | Total | |||||||||||||||||||||||||
AAA/AA/A | $ | $ | $ | $ | $ | ||||||||||||||||||||||||
Not Rated | |||||||||||||||||||||||||||||
$ | $ | $ | $ | $ |
December 31, 2020 | |||||||||||||||||||||||||||||
U.S. Government and agency obligations | Municipal bonds | Corporate bonds | Mortgage-backed or related securities | Total | |||||||||||||||||||||||||
AAA/AA/A | $ | $ | $ | $ | $ | ||||||||||||||||||||||||
Not Rated | |||||||||||||||||||||||||||||
$ | $ | $ | $ | $ |
For the Three Months Ended September 30, 2021 | |||||||||||||||||||||||||||||
U.S. Government and agency obligations | Municipal bonds | Corporate bonds | Mortgage-backed or related securities | Total | |||||||||||||||||||||||||
Allowance for credit losses – securities | |||||||||||||||||||||||||||||
Beginning Balance | $ | $ | $ | $ | $ | ||||||||||||||||||||||||
Recapture of provision for credit losses | ( | ( | ( | ||||||||||||||||||||||||||
Ending Balance | $ | $ | $ | $ | $ | ||||||||||||||||||||||||
For the Nine Months Ended September 30, 2021 | |||||||||||||||||||||||||||||
U.S. Government and agency obligations | Municipal bonds | Corporate bonds | Mortgage-backed or related securities | Total | |||||||||||||||||||||||||
Allowance for credit losses – securities | |||||||||||||||||||||||||||||
Beginning Balance | $ | $ | $ | $ | $ | ||||||||||||||||||||||||
Provision for credit losses | |||||||||||||||||||||||||||||
Ending Balance | $ | $ | $ | $ | $ |
For the Three Months Ended September 30, 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 | |||||||||||||||||||||||||||||
(Recapture)/provision for credit losses | ( | ||||||||||||||||||||||||||||
Ending Balance | $ | $ | $ | $ | $ | ||||||||||||||||||||||||
For the Nine Months Ended September 30, 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 | |||||||||||||||||||||||||||||
Provision for credit losses | |||||||||||||||||||||||||||||
Ending Balance | $ | $ | $ | $ | $ |
September 30, 2021 | December 31, 2020 | ||||||||||||||||||||||
Amount | Percent of Total | Amount | Percent of Total | ||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||
Owner-occupied | $ | % | $ | % | |||||||||||||||||||
Investment properties | |||||||||||||||||||||||
Small balance CRE | |||||||||||||||||||||||
Multifamily real estate | |||||||||||||||||||||||
Construction, land and land development: | |||||||||||||||||||||||
Commercial construction | |||||||||||||||||||||||
Multifamily construction | |||||||||||||||||||||||
One- to four-family construction | |||||||||||||||||||||||
Land and land development | |||||||||||||||||||||||
Commercial business: | |||||||||||||||||||||||
Commercial business (1) | |||||||||||||||||||||||
Small business scored | |||||||||||||||||||||||
Agricultural business, including secured by farmland (2) | |||||||||||||||||||||||
One- to four-family residential | |||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||
Consumer—home equity revolving lines of credit | |||||||||||||||||||||||
Consumer—other | |||||||||||||||||||||||
Total loans | % | % | |||||||||||||||||||||
Less allowance for credit losses – loans | ( | ( | |||||||||||||||||||||
Net loans | $ | $ |
Three Months Ended September 30, 2020 | Nine months ended September 30, 2020 | ||||||||||||||||||||||||||||||||||
Number of Contracts | Pre-modification Outstanding Recorded Investment | Post-modification Outstanding Recorded Investment | Number of Contracts | Pre- modification Outstanding Recorded Investment | Post- modification Outstanding Recorded Investment | ||||||||||||||||||||||||||||||
Recorded Investment | |||||||||||||||||||||||||||||||||||
Commercial business: | |||||||||||||||||||||||||||||||||||
Commercial business | |||||||||||||||||||||||||||||||||||
Total | $ | $ | $ | $ |
September 30, 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 | $ | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||||||||
Special Mention | |||||||||||||||||||||||||||||||||||||||||||||||
Substandard | |||||||||||||||||||||||||||||||||||||||||||||||
Doubtful | |||||||||||||||||||||||||||||||||||||||||||||||
Loss | |||||||||||||||||||||||||||||||||||||||||||||||
Total Commercial real estate - owner occupied | $ | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||||||||
Commercial real estate - investment properties | |||||||||||||||||||||||||||||||||||||||||||||||
Risk Rating | |||||||||||||||||||||||||||||||||||||||||||||||
Pass | $ | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||||||||
Special Mention | |||||||||||||||||||||||||||||||||||||||||||||||
Substandard | |||||||||||||||||||||||||||||||||||||||||||||||
Doubtful | |||||||||||||||||||||||||||||||||||||||||||||||
Loss | |||||||||||||||||||||||||||||||||||||||||||||||
Total Commercial real estate - investment properties | $ | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||||||||
Multifamily real estate | |||||||||||||||||||||||||||||||||||||||||||||||
Risk Rating | |||||||||||||||||||||||||||||||||||||||||||||||
Pass | $ | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||||||||
Special Mention | |||||||||||||||||||||||||||||||||||||||||||||||
Substandard | |||||||||||||||||||||||||||||||||||||||||||||||
Doubtful | |||||||||||||||||||||||||||||||||||||||||||||||
Loss | |||||||||||||||||||||||||||||||||||||||||||||||
Total Multifamily real estate | $ | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||||||||
September 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||
Term Loans by Year of Origination | Revolving Loans | Total Loans | |||||||||||||||||||||||||||||||||||||||||||||
By class: | 2021 | 2020 | 2019 | 2018 | 2017 | Prior | |||||||||||||||||||||||||||||||||||||||||
Commercial construction | |||||||||||||||||||||||||||||||||||||||||||||||
Risk Rating | |||||||||||||||||||||||||||||||||||||||||||||||
Pass | $ | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||||||||
Special Mention | |||||||||||||||||||||||||||||||||||||||||||||||
Substandard | |||||||||||||||||||||||||||||||||||||||||||||||
Doubtful | |||||||||||||||||||||||||||||||||||||||||||||||
Loss | |||||||||||||||||||||||||||||||||||||||||||||||
Total Commercial construction | $ | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||||||||
Multifamily construction | |||||||||||||||||||||||||||||||||||||||||||||||
Risk Rating | |||||||||||||||||||||||||||||||||||||||||||||||
Pass | $ | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||||||||
Special Mention | |||||||||||||||||||||||||||||||||||||||||||||||
Substandard | |||||||||||||||||||||||||||||||||||||||||||||||
Doubtful | |||||||||||||||||||||||||||||||||||||||||||||||
Loss | |||||||||||||||||||||||||||||||||||||||||||||||
Total Multifamily construction | $ | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||||||||
One- to four- family construction | |||||||||||||||||||||||||||||||||||||||||||||||
Risk Rating | |||||||||||||||||||||||||||||||||||||||||||||||
Pass | $ | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||||||||
Special Mention | |||||||||||||||||||||||||||||||||||||||||||||||
Substandard | |||||||||||||||||||||||||||||||||||||||||||||||
Doubtful | |||||||||||||||||||||||||||||||||||||||||||||||
Loss | |||||||||||||||||||||||||||||||||||||||||||||||
Total One- to four- family construction | $ | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||||||||
September 30, 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 | $ | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||||||||
Special Mention | |||||||||||||||||||||||||||||||||||||||||||||||
Substandard | |||||||||||||||||||||||||||||||||||||||||||||||
Doubtful | |||||||||||||||||||||||||||||||||||||||||||||||
Loss | |||||||||||||||||||||||||||||||||||||||||||||||
Total Land and land development | $ | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||||||||
Commercial business | |||||||||||||||||||||||||||||||||||||||||||||||
Risk Rating | |||||||||||||||||||||||||||||||||||||||||||||||
Pass | $ | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||||||||
Special Mention | |||||||||||||||||||||||||||||||||||||||||||||||
Substandard | |||||||||||||||||||||||||||||||||||||||||||||||
Doubtful | |||||||||||||||||||||||||||||||||||||||||||||||
Loss | |||||||||||||||||||||||||||||||||||||||||||||||
Total Commercial business | $ | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||||||||
Agricultural business including secured by farmland | |||||||||||||||||||||||||||||||||||||||||||||||
Risk Rating | |||||||||||||||||||||||||||||||||||||||||||||||
Pass | $ | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||||||||
Special Mention | |||||||||||||||||||||||||||||||||||||||||||||||
Substandard | |||||||||||||||||||||||||||||||||||||||||||||||
Doubtful | |||||||||||||||||||||||||||||||||||||||||||||||
Loss | |||||||||||||||||||||||||||||||||||||||||||||||
Total Agricultural business including secured by farmland | $ | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||||||||
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 | $ | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||||||||
Special Mention | |||||||||||||||||||||||||||||||||||||||||||||||
Substandard | |||||||||||||||||||||||||||||||||||||||||||||||
Doubtful | |||||||||||||||||||||||||||||||||||||||||||||||
Loss | |||||||||||||||||||||||||||||||||||||||||||||||
Total Commercial real estate - owner occupied | $ | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||||||||
Commercial real estate - investment properties | |||||||||||||||||||||||||||||||||||||||||||||||
Risk Rating | |||||||||||||||||||||||||||||||||||||||||||||||
Pass | $ | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||||||||
Special Mention | |||||||||||||||||||||||||||||||||||||||||||||||
Substandard | |||||||||||||||||||||||||||||||||||||||||||||||
Doubtful | |||||||||||||||||||||||||||||||||||||||||||||||
Loss | |||||||||||||||||||||||||||||||||||||||||||||||
Total Commercial real estate - investment properties | $ | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||||||||
Multifamily real estate | |||||||||||||||||||||||||||||||||||||||||||||||
Risk Rating | |||||||||||||||||||||||||||||||||||||||||||||||
Pass | $ | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||||||||
Special Mention | |||||||||||||||||||||||||||||||||||||||||||||||
Substandard | |||||||||||||||||||||||||||||||||||||||||||||||
Doubtful | |||||||||||||||||||||||||||||||||||||||||||||||
Loss | |||||||||||||||||||||||||||||||||||||||||||||||
Total Multifamily real estate | $ | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||||||||
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 | $ | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||||||||
Special Mention | |||||||||||||||||||||||||||||||||||||||||||||||
Substandard | |||||||||||||||||||||||||||||||||||||||||||||||
Doubtful | |||||||||||||||||||||||||||||||||||||||||||||||
Loss | |||||||||||||||||||||||||||||||||||||||||||||||
Total Commercial construction | $ | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||||||||
Multifamily construction | |||||||||||||||||||||||||||||||||||||||||||||||
Risk Rating | |||||||||||||||||||||||||||||||||||||||||||||||
Pass | $ | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||||||||
Special Mention | |||||||||||||||||||||||||||||||||||||||||||||||
Substandard | |||||||||||||||||||||||||||||||||||||||||||||||
Doubtful | |||||||||||||||||||||||||||||||||||||||||||||||
Loss | |||||||||||||||||||||||||||||||||||||||||||||||
Total Multifamily construction | $ | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||||||||
One- to four- family construction | |||||||||||||||||||||||||||||||||||||||||||||||
Risk Rating | |||||||||||||||||||||||||||||||||||||||||||||||
Pass | $ | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||||||||
Special Mention | |||||||||||||||||||||||||||||||||||||||||||||||
Substandard | |||||||||||||||||||||||||||||||||||||||||||||||
Doubtful | |||||||||||||||||||||||||||||||||||||||||||||||
Loss | |||||||||||||||||||||||||||||||||||||||||||||||
Total One- to four- family construction | $ | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||||||||
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 | $ | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||||||||
Special Mention | |||||||||||||||||||||||||||||||||||||||||||||||
Substandard | |||||||||||||||||||||||||||||||||||||||||||||||
Doubtful | |||||||||||||||||||||||||||||||||||||||||||||||
Loss | |||||||||||||||||||||||||||||||||||||||||||||||
Total Land and land development | $ | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||||||||
Commercial business | |||||||||||||||||||||||||||||||||||||||||||||||
Risk Rating | |||||||||||||||||||||||||||||||||||||||||||||||
Pass | $ | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||||||||
Special Mention | |||||||||||||||||||||||||||||||||||||||||||||||
Substandard | |||||||||||||||||||||||||||||||||||||||||||||||
Doubtful | |||||||||||||||||||||||||||||||||||||||||||||||
Loss | |||||||||||||||||||||||||||||||||||||||||||||||
Total Commercial business | $ | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||||||||
Agricultural business including secured by farmland | |||||||||||||||||||||||||||||||||||||||||||||||
Risk Rating | |||||||||||||||||||||||||||||||||||||||||||||||
Pass | $ | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||||||||
Special Mention | |||||||||||||||||||||||||||||||||||||||||||||||
Substandard | |||||||||||||||||||||||||||||||||||||||||||||||
Doubtful | |||||||||||||||||||||||||||||||||||||||||||||||
Loss | |||||||||||||||||||||||||||||||||||||||||||||||
Total Agricultural business including secured by farmland | $ | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||||||||
September 30, 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 | $ | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||||||||
30-59 Days Past Due | |||||||||||||||||||||||||||||||||||||||||||||||
60-89 Days Past Due | |||||||||||||||||||||||||||||||||||||||||||||||
90 Days + Past Due | |||||||||||||||||||||||||||||||||||||||||||||||
Total small balance CRE | $ | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||||||||
Small business scored | |||||||||||||||||||||||||||||||||||||||||||||||
Past Due Category | |||||||||||||||||||||||||||||||||||||||||||||||
Current | $ | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||||||||
30-59 Days Past Due | |||||||||||||||||||||||||||||||||||||||||||||||
60-89 Days Past Due | |||||||||||||||||||||||||||||||||||||||||||||||
90 Days + Past Due | |||||||||||||||||||||||||||||||||||||||||||||||
Total small business scored | $ | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||||||||
One- to four- family residential | |||||||||||||||||||||||||||||||||||||||||||||||
Past Due Category | |||||||||||||||||||||||||||||||||||||||||||||||
Current | $ | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||||||||
30-59 Days Past Due | |||||||||||||||||||||||||||||||||||||||||||||||
60-89 Days Past Due | |||||||||||||||||||||||||||||||||||||||||||||||
90 Days + Past Due | |||||||||||||||||||||||||||||||||||||||||||||||
Total One- to four- family residential | $ | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||||||||
September 30, 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 | $ | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||||||||
30-59 Days Past Due | |||||||||||||||||||||||||||||||||||||||||||||||
60-89 Days Past Due | |||||||||||||||||||||||||||||||||||||||||||||||
90 Days + Past Due | |||||||||||||||||||||||||||||||||||||||||||||||
Total Consumer—home equity revolving lines of credit | $ | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||||||||
Consumer-other | |||||||||||||||||||||||||||||||||||||||||||||||
Past Due Category | |||||||||||||||||||||||||||||||||||||||||||||||
Current | $ | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||||||||
30-59 Days Past Due | |||||||||||||||||||||||||||||||||||||||||||||||
60-89 Days Past Due | |||||||||||||||||||||||||||||||||||||||||||||||
90 Days + Past Due | |||||||||||||||||||||||||||||||||||||||||||||||
Total Consumer-other | $ | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||||||||
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 | $ | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||||||||
30-59 Days Past Due | |||||||||||||||||||||||||||||||||||||||||||||||
60-89 Days Past Due | |||||||||||||||||||||||||||||||||||||||||||||||
90 Days + Past Due | |||||||||||||||||||||||||||||||||||||||||||||||
Total small balance CRE | $ | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||||||||
Small business scored | |||||||||||||||||||||||||||||||||||||||||||||||
Past Due Category | |||||||||||||||||||||||||||||||||||||||||||||||
Current | $ | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||||||||
30-59 Days Past Due | |||||||||||||||||||||||||||||||||||||||||||||||
60-89 Days Past Due | |||||||||||||||||||||||||||||||||||||||||||||||
90 Days + Past Due | |||||||||||||||||||||||||||||||||||||||||||||||
Total small business scored | $ | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||||||||
One- to four- family residential | |||||||||||||||||||||||||||||||||||||||||||||||
Past Due Category | |||||||||||||||||||||||||||||||||||||||||||||||
Current | $ | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||||||||
30-59 Days Past Due | |||||||||||||||||||||||||||||||||||||||||||||||
60-89 Days Past Due | |||||||||||||||||||||||||||||||||||||||||||||||
90 Days + Past Due | |||||||||||||||||||||||||||||||||||||||||||||||
Total One- to four- family residential | $ | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||||||||
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 | $ | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||||||||
30-59 Days Past Due | |||||||||||||||||||||||||||||||||||||||||||||||
60-89 Days Past Due | |||||||||||||||||||||||||||||||||||||||||||||||
90 Days + Past Due | |||||||||||||||||||||||||||||||||||||||||||||||
Total Consumer—home equity revolving lines of credit | $ | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||||||||
Consumer-other | |||||||||||||||||||||||||||||||||||||||||||||||
Past Due Category | |||||||||||||||||||||||||||||||||||||||||||||||
Current | $ | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||||||||
30-59 Days Past Due | |||||||||||||||||||||||||||||||||||||||||||||||
60-89 Days Past Due | |||||||||||||||||||||||||||||||||||||||||||||||
90 Days + Past Due | |||||||||||||||||||||||||||||||||||||||||||||||
Total Consumer-other | $ | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||||||||
September 30, 2021 | |||||||||||||||||||||||
Real Estate | Accounts Receivable | Equipment | Total | ||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||
Owner-occupied | $ | $ | $ | $ | |||||||||||||||||||
Investment properties | |||||||||||||||||||||||
Small balance CRE | |||||||||||||||||||||||
Commercial business | |||||||||||||||||||||||
Commercial business | |||||||||||||||||||||||
Small business scored | |||||||||||||||||||||||
Agricultural business, including secured by farmland | |||||||||||||||||||||||
Total | $ | $ | $ | $ |
December 31, 2020 | |||||||||||||||||||||||
Real Estate | Accounts Receivable | Equipment | Total | ||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||
Owner-occupied | $ | $ | $ | $ | |||||||||||||||||||
Investment properties | |||||||||||||||||||||||
Small balance CRE | |||||||||||||||||||||||
Land and land development | |||||||||||||||||||||||
Commercial business | |||||||||||||||||||||||
Commercial business | |||||||||||||||||||||||
Small business scored | |||||||||||||||||||||||
Agricultural business, including secured by farmland | |||||||||||||||||||||||
One- to four-family residential | |||||||||||||||||||||||
Total | $ | $ | $ | $ |
September 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
30-59 Days Past Due | 60-89 Days Past Due | 90 Days or More Past Due | Total Past Due | 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 | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||
Investment properties | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Small balance CRE | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Multifamily real estate | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Construction, land and land development: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial construction | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Multifamily construction | |||||||||||||||||||||||||||||||||||||||||||||||||||||
One- to four-family construction | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Land and land development | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial business | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial business | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Small business scored | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Agricultural business, including secured by farmland | |||||||||||||||||||||||||||||||||||||||||||||||||||||
One- to four-family residential | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer—home equity revolving lines of credit | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer—other | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | $ | $ | $ | $ | $ | $ | $ | $ |
December 31, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
30-59 Days Past Due | 60-89 Days Past Due | 90 Days or More Past Due | Total Past Due | 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 | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||
Investment properties | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Small balance CRE | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Multifamily real estate | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Construction, land and land development: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial construction | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Multifamily construction | |||||||||||||||||||||||||||||||||||||||||||||||||||||
One- to four-family construction | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Land and land development | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial business | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial business | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Small business scored | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Agricultural business, including secured by farmland | |||||||||||||||||||||||||||||||||||||||||||||||||||||
One-to four-family residential | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer secured by one- to four-family | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer—other | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | $ | $ | $ | $ | $ | $ | $ | $ |
For the Three Months Ended September 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial Real Estate | Multifamily Real Estate | Construction and Land | Commercial Business | Agricultural Business | One- to Four-Family Residential | Consumer | Unallocated | Total | |||||||||||||||||||||||||||||||||||||||||||||
Allowance for credit losses: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning balance | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||
(Recapture)/provision for credit losses | ( | ( | ( | ( | ( | ||||||||||||||||||||||||||||||||||||||||||||||||
Recoveries | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Charge-offs | ( | ( | ( | ( | |||||||||||||||||||||||||||||||||||||||||||||||||
Ending balance | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||
For the Nine Months Ended September 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial Real Estate | Multifamily Real Estate | Construction and Land | Commercial Business | Agricultural Business | One- to Four-Family Residential | Consumer | Unallocated | Total | |||||||||||||||||||||||||||||||||||||||||||||
Allowance for credit losses: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning balance | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||
Provision/(recapture) for credit losses | ( | ( | ( | ( | ( | ( | |||||||||||||||||||||||||||||||||||||||||||||||
Recoveries | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Charge-offs | ( | ( | ( | ( | ( | ||||||||||||||||||||||||||||||||||||||||||||||||
Ending balance | $ | $ | $ | $ | $ | $ | $ | $ | $ |
For the Three Months Ended September 30, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial Real Estate | Multifamily Real Estate | Construction and Land | Commercial Business | Agricultural Business | One- to Four-Family Residential | Consumer | Unallocated | Total | |||||||||||||||||||||||||||||||||||||||||||||
Allowance for credit losses: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning balance | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||
Provision/(recapture) for credit losses | ( | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Recoveries | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Charge-offs | ( | ( | ( | ( | ( | ( | |||||||||||||||||||||||||||||||||||||||||||||||
Ending balance | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||
For the Nine Months Ended September 30, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial Real Estate | Multifamily Real Estate | Construction and Land | Commercial Business | Agricultural Business | One- to Four-Family Residential | Consumer | Unallocated | Total | |||||||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning balance | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||
Impact of Adopting ASC 326 | ( | ( | ( | ( | |||||||||||||||||||||||||||||||||||||||||||||||||
Provision/(recapture) for loan losses | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Recoveries | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Charge-offs | ( | ( | ( | ( | ( | ( | ( | ( | |||||||||||||||||||||||||||||||||||||||||||||
Ending balance | $ | $ | $ | $ | $ | $ | $ | $ | $ |
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
Balance, beginning of the period | $ | $ | $ | $ | |||||||||||||||||||
Additions from loan foreclosures | |||||||||||||||||||||||
Proceeds from dispositions of REO | ( | ( | ( | ||||||||||||||||||||
Gain on sale of REO | |||||||||||||||||||||||
Valuation adjustments in the period | ( | ( | |||||||||||||||||||||
Balance, end of the period | $ | $ | $ | $ |
Goodwill | CDI | Total | |||||||||||||||
Balance, December 31, 2019 | $ | $ | $ | ||||||||||||||
Amortization | — | ( | ( | ||||||||||||||
Balance, December 31, 2020 | |||||||||||||||||
Amortization | — | ( | ( | ||||||||||||||
Balance, September 30, 2021 | $ | $ | $ |
Estimated Amortization | ||||||||
Remainder of 2021 | $ | |||||||
2022 | ||||||||
2023 | ||||||||
2024 | ||||||||
2025 | ||||||||
Thereafter | ||||||||
$ |
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
Balance, beginning of the period | $ | $ | $ | $ | |||||||||||||||||||
Additions—amounts capitalized | |||||||||||||||||||||||
Additions—through purchase | |||||||||||||||||||||||
Amortization (1) | ( | ( | ( | ( | |||||||||||||||||||
Balance, end of the period (2) | $ | $ | $ | $ |
September 30, 2021 | December 31, 2020 | ||||||||||
Non-interest-bearing accounts | $ | $ | |||||||||
Interest-bearing checking | |||||||||||
Regular savings accounts | |||||||||||
Money market accounts | |||||||||||
Total interest-bearing transaction and saving accounts | |||||||||||
Certificates of deposit: | |||||||||||
Certificates of deposit less than or equal to $250,000 | |||||||||||
Certificates of deposit greater than $250,000 | |||||||||||
Total certificates of deposit(1) | |||||||||||
Total deposits | $ | $ | |||||||||
Included in total deposits: | |||||||||||
Public fund transaction and savings accounts | $ | $ | |||||||||
Public fund interest-bearing certificates | |||||||||||
Total public deposits | $ | $ | |||||||||
September 30, 2021 | |||||||||||
Amount | Weighted Average Rate | ||||||||||
Maturing in one year or less | $ | % | |||||||||
Maturing after one year through two years | |||||||||||
Maturing after two years through three years | |||||||||||
Maturing after three years through four years | |||||||||||
Maturing after four years through five years | |||||||||||
Maturing after five years | |||||||||||
Total certificates of deposit | $ | % |
September 30, 2021 | December 31, 2020 | ||||||||||||||||||||||||||||
Level | Carrying Value | Estimated Fair Value | Carrying Value | Estimated Fair Value | |||||||||||||||||||||||||
Assets: | |||||||||||||||||||||||||||||
Cash and cash equivalents | 1 | $ | $ | $ | $ | ||||||||||||||||||||||||
Securities—trading | 3 | ||||||||||||||||||||||||||||
Securities—available-for-sale | 2 | ||||||||||||||||||||||||||||
Securities—held-to-maturity | 2 | ||||||||||||||||||||||||||||
Securities—held-to-maturity | 3 | ||||||||||||||||||||||||||||
Securities purchased under agreements to resell | 2 | ||||||||||||||||||||||||||||
Loans held for sale | 2 | ||||||||||||||||||||||||||||
Loans receivable | 3 | ||||||||||||||||||||||||||||
FHLB stock | 3 | ||||||||||||||||||||||||||||
Bank-owned life insurance | 1 | ||||||||||||||||||||||||||||
Mortgage servicing rights | 3 | ||||||||||||||||||||||||||||
Derivatives: | |||||||||||||||||||||||||||||
Interest rate swaps | 2 | ||||||||||||||||||||||||||||
Interest rate lock and forward sales commitments | 2,3 | ||||||||||||||||||||||||||||
Liabilities: | |||||||||||||||||||||||||||||
Demand, interest checking and money market accounts | 2 | ||||||||||||||||||||||||||||
Regular savings | 2 | ||||||||||||||||||||||||||||
Certificates of deposit | 2 | ||||||||||||||||||||||||||||
FHLB advances | 2 | ||||||||||||||||||||||||||||
Other borrowings | 2 | ||||||||||||||||||||||||||||
Subordinated notes, net | 2 | ||||||||||||||||||||||||||||
Junior subordinated debentures | 3 | ||||||||||||||||||||||||||||
Derivatives: | |||||||||||||||||||||||||||||
Interest rate swaps | 2 | ||||||||||||||||||||||||||||
Interest rate lock and forward sales commitments | 2 |
September 30, 2021 | |||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||||
Assets: | |||||||||||||||||||||||
Securities—trading | |||||||||||||||||||||||
Corporate bonds (Trust Preferred Securities) | $ | $ | $ | $ | |||||||||||||||||||
Securities—available-for-sale | |||||||||||||||||||||||
U.S. Government and agency obligations | |||||||||||||||||||||||
Municipal bonds | |||||||||||||||||||||||
Corporate bonds | |||||||||||||||||||||||
Mortgage-backed or related securities | |||||||||||||||||||||||
Asset-backed securities | |||||||||||||||||||||||
Loans held for sale | |||||||||||||||||||||||
Derivatives | |||||||||||||||||||||||
Interest rate swaps | |||||||||||||||||||||||
Interest rate lock and forward sales commitments | |||||||||||||||||||||||
$ | $ | $ | $ | ||||||||||||||||||||
Liabilities: | |||||||||||||||||||||||
Junior subordinated debentures | $ | $ | $ | $ | |||||||||||||||||||
Derivatives | |||||||||||||||||||||||
Interest rate swaps | |||||||||||||||||||||||
Interest rate lock and forward sales commitments | |||||||||||||||||||||||
$ | $ | $ | $ |
December 31, 2020 | |||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||||
Assets: | |||||||||||||||||||||||
Securities—trading | |||||||||||||||||||||||
Corporate bonds (Trust Preferred Securities) | $ | $ | $ | $ | |||||||||||||||||||
Securities—available-for-sale | |||||||||||||||||||||||
U.S. Government and agency obligations | |||||||||||||||||||||||
Municipal bonds | |||||||||||||||||||||||
Corporate bonds | |||||||||||||||||||||||
Mortgage-backed securities | |||||||||||||||||||||||
Asset-backed securities | |||||||||||||||||||||||
Loans held for sale | |||||||||||||||||||||||
Derivatives | |||||||||||||||||||||||
Interest rate swaps | |||||||||||||||||||||||
Interest rate lock and forward sales commitments | |||||||||||||||||||||||
$ | $ | $ | $ | ||||||||||||||||||||
Liabilities: | |||||||||||||||||||||||
Junior subordinated debentures, net of unamortized deferred issuance costs | $ | $ | $ | $ | |||||||||||||||||||
Derivatives | |||||||||||||||||||||||
Interest rate swaps | |||||||||||||||||||||||
Interest rate lock and forward sales commitments | |||||||||||||||||||||||
$ | $ | $ | $ |
Weighted Average Rate / Range | ||||||||||||||||||||||||||
Financial Instruments | Valuation Techniques | Unobservable Inputs | September 30, 2021 | December 31, 2020 | ||||||||||||||||||||||
Corporate bonds (TPS securities) | Discounted cash flows | Discount rate | % | % | ||||||||||||||||||||||
Junior subordinated debentures | Discounted cash flows | Discount rate | % | % | ||||||||||||||||||||||
Loans individually evaluated | Collateral valuations | Discount to appraised value | ||||||||||||||||||||||||
REO | Appraisals | Discount to appraised value | % | % | ||||||||||||||||||||||
Interest rate lock commitments | Pricing model | Pull-through rate | % | % |
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||||||||||||
September 30, 2021 | September 30, 2021 | ||||||||||||||||||||||||||||||||||
Level 3 Fair Value Inputs | Level 3 Fair Value Inputs | ||||||||||||||||||||||||||||||||||
TPS Securities | Borrowings—Junior Subordinated Debentures | Interest Rate Lock Commitments | TPS Securities | Borrowings— Junior Subordinated Debentures | Interest rate lock and forward sales commitments | ||||||||||||||||||||||||||||||
Beginning balance | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||
Total gains or losses recognized | |||||||||||||||||||||||||||||||||||
Assets gains (losses) | — | ( | — | ( | |||||||||||||||||||||||||||||||
Liabilities losses | — | — | — | ||||||||||||||||||||||||||||||||
Ending balance at September 30, 2021 | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||||||||||||
September 30, 2020 | September 30, 2020 | ||||||||||||||||||||||||||||||||||
Level 3 Fair Value Inputs | Level 3 Fair Value Inputs | ||||||||||||||||||||||||||||||||||
TPS Securities | Borrowings—Junior Subordinated Debentures | Interest Rate Lock Commitments | TPS Securities | Borrowings— Junior Subordinated Debentures | Interest rate lock and forward sales commitments | ||||||||||||||||||||||||||||||
Beginning balance | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||
Total gains or losses recognized | |||||||||||||||||||||||||||||||||||
Assets (losses) gains | — | ( | — | ||||||||||||||||||||||||||||||||
Liabilities gains | — | — | — | ( | — | ||||||||||||||||||||||||||||||
Ending balance at September 30, 2020 | $ | $ | $ | $ | $ | $ |
September 30, 2021 | |||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||||
Loans individually evaluated | $ | $ | $ | $ | |||||||||||||||||||
REO | |||||||||||||||||||||||
December 31, 2020 | |||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||||
Loans individually evaluated | $ | $ | $ | $ | |||||||||||||||||||
REO | |||||||||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||
Loans individually evaluated | $ | $ | ( | $ | ( | $ | ( | |||||||||||||||||||
REO | ||||||||||||||||||||||||||
Total loss from non-recurring measurements | $ | $ | ( | $ | ( | $ | ( |
September 30, 2021 | December 31, 2020 | ||||||||||
Tax credit investments | $ | $ | |||||||||
Unfunded commitments—tax credit investments |
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
Tax credits and other tax benefits recognized | $ | $ | $ | $ | |||||||||||||||||||
Tax credit amortization expense included in provision for income taxes |
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
Net income | $ | $ | $ | $ | |||||||||||||||||||
Basic weighted average shares outstanding | |||||||||||||||||||||||
Dilutive effect of unvested restricted stock | |||||||||||||||||||||||
Diluted weighted shares outstanding | |||||||||||||||||||||||
Earnings per common share | |||||||||||||||||||||||
Basic | $ | $ | $ | $ | |||||||||||||||||||
Diluted | $ | $ | $ | $ |
Contract or Notional Amount | |||||||||||
September 30, 2021 | December 31, 2020 | ||||||||||
Commitments to extend credit | $ | $ | |||||||||
Standby letters of credit and financial guarantees | |||||||||||
Commitments to originate loans | |||||||||||
Risk participation agreement | |||||||||||
Derivatives also included in Note 13: | |||||||||||
Commitments to originate loans held for sale | |||||||||||
Commitments to sell loans secured by one- to four-family residential properties | |||||||||||
Commitments to sell securities related to mortgage banking activities |
Asset Derivatives | Liability Derivatives | ||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2021 | December 31, 2020 | September 30, 2021 | December 31, 2020 | ||||||||||||||||||||||||||||||||||||||||||||
Notional/ Contract Amount | Fair Value (1) | Notional/ Contract Amount | Fair Value (1) | Notional/ Contract Amount | Fair Value (2) | Notional/ Contract Amount | Fair Value (2) | ||||||||||||||||||||||||||||||||||||||||
Interest rate swaps | $ | $ | $ | $ | $ | $ | $ | $ |
Asset Derivatives | Liability Derivatives | ||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2021 | December 31, 2020 | September 30, 2021 | December 31, 2020 | ||||||||||||||||||||||||||||||||||||||||||||
Notional/ Contract Amount | Fair Value (1) | Notional/ Contract Amount | Fair Value (1) | Notional/ Contract Amount | Fair Value (2) | Notional/ Contract Amount | Fair Value (2) | ||||||||||||||||||||||||||||||||||||||||
Interest rate swaps | $ | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||||||||
Mortgage loan commitments | |||||||||||||||||||||||||||||||||||||||||||||||
Forward sales contracts | |||||||||||||||||||||||||||||||||||||||||||||||
$ | $ | $ | $ | $ | $ | $ | $ |
Location on Consolidated Statements of Operations | Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||||||||
Mortgage loan commitments | Mortgage banking operations | $ | ( | $ | $ | ( | $ | ||||||||||||||||||||||
Forward sales contracts | Mortgage banking operations | ( | |||||||||||||||||||||||||||
$ | ( | $ | $ | ( | $ |
September 30, 2021 | |||||||||||||||||||||||||||||||||||
Gross Amounts of Financial Instruments Not Offset in the Consolidated Statements of Financial Condition | |||||||||||||||||||||||||||||||||||
Gross Amounts Recognized | Amounts offset in the Statement of Financial Condition | Net Amounts in the Statement of Financial Condition | Netting Adjustment Per Applicable Master Netting Agreements | Fair Value of Financial Collateral in the Statement of Financial Condition | Net Amount | ||||||||||||||||||||||||||||||
Derivative assets | |||||||||||||||||||||||||||||||||||
Interest rate swaps | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||
$ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||
Derivative liabilities | |||||||||||||||||||||||||||||||||||
Interest rate swaps | $ | $ | — | $ | $ | $ | ( | $ | |||||||||||||||||||||||||||
$ | $ | — | $ | $ | $ | ( | $ | ||||||||||||||||||||||||||||
December 31, 2020 | |||||||||||||||||||||||||||||||||||
Gross Amounts of Financial Instruments Not Offset in the Consolidated Statements of Financial Condition | |||||||||||||||||||||||||||||||||||
Gross Amounts Recognized | Amounts offset in the Statement of Financial Condition | Net Amounts in the Statement of Financial Condition | Netting Adjustment Per Applicable Master Netting Agreements | Fair Value of Financial Collateral in the Statement of Financial Condition | Net Amount | ||||||||||||||||||||||||||||||
Derivative assets | |||||||||||||||||||||||||||||||||||
Interest rate swaps | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||
$ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||
Derivative liabilities | |||||||||||||||||||||||||||||||||||
Interest rate swaps | $ | $ | — | $ | $ | $ | ( | $ | |||||||||||||||||||||||||||
$ | $ | — | $ | $ | $ | ( | $ |
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
Deposit service charges | $ | $ | $ | $ | |||||||||||||||||||
Debit and credit card interchange fees | |||||||||||||||||||||||
Debit and credit card expense | ( | ( | ( | ( | |||||||||||||||||||
Merchant services income | |||||||||||||||||||||||
Merchant services expense | ( | ( | ( | ( | |||||||||||||||||||
Other service charges | |||||||||||||||||||||||
Total deposit fees and other service charges | $ | $ | $ | $ |
For the Three Months Ended September 30, | For the Nine Months Ended September 30, | ||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
ADJUSTED REVENUE | |||||||||||||||||||||||
Net interest income (GAAP) | $ | 130,146 | $ | 121,026 | $ | 375,361 | $ | 359,864 | |||||||||||||||
Total non-interest income | 25,334 | 28,222 | 71,942 | 75,107 | |||||||||||||||||||
Total GAAP revenue | 155,480 | 149,248 | 447,303 | 434,971 | |||||||||||||||||||
Exclude net gain on sale of securities | (56) | (644) | (618) | (815) | |||||||||||||||||||
Exclude change in valuation of financial instruments carried at fair value | (1,778) | (37) | (1,895) | 2,360 | |||||||||||||||||||
Adjusted Revenue (non-GAAP) | $ | 153,646 | $ | 148,567 | $ | 444,790 | $ | 436,516 |
For the Three Months Ended September 30, | For the Nine Months Ended September 30, | ||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
ADJUSTED EARNINGS | |||||||||||||||||||||||
Net income (GAAP) | $ | 49,884 | $ | 36,548 | $ | 151,121 | $ | 76,971 | |||||||||||||||
Exclude net gain on sale of securities | (56) | (644) | (618) | (815) | |||||||||||||||||||
Exclude change in valuation of financial instruments carried at fair value | (1,778) | (37) | (1,895) | 2,360 | |||||||||||||||||||
Exclude merger and acquisition-related costs | 10 | 5 | 660 | 1,483 | |||||||||||||||||||
Exclude COVID-19 expenses | 44 | 778 | 309 | 3,169 | |||||||||||||||||||
Exclude Banner Forward expenses | 7,592 | — | 10,447 | — | |||||||||||||||||||
Exclude related tax (benefit) expense | (1,395) | (24) | (2,137) | (1,476) | |||||||||||||||||||
Total adjusted earnings (non-GAAP) | $ | 54,301 | $ | 36,626 | $ | 157,887 | $ | 81,692 | |||||||||||||||
Diluted earnings per share (GAAP) | $ | 1.44 | $ | 1.03 | $ | 4.32 | $ | 2.17 | |||||||||||||||
Diluted adjusted earnings per share (non-GAAP) | $ | 1.57 | $ | 1.04 | $ | 4.51 | $ | 2.30 | |||||||||||||||
For the Three Months Ended September 30, | For the Nine Months Ended September 30, | ||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
ADJUSTED EFFICIENCY RATIO | |||||||||||||||||||||||
Non-interest expense (GAAP) | $ | 102,145 | $ | 90,028 | $ | 288,296 | $ | 274,033 | |||||||||||||||
Exclude merger and acquisition-related costs | (10) | (5) | (660) | (1,483) | |||||||||||||||||||
Exclude COVID-19 expenses | (44) | (778) | (309) | (3,169) | |||||||||||||||||||
Exclude Banner forward expenses | (7,592) | — | (10,447) | — | |||||||||||||||||||
Exclude CDI amortization | (1,575) | (1,864) | (4,997) | (5,867) | |||||||||||||||||||
Exclude state/municipal tax expense | (1,219) | (1,196) | (3,367) | (3,284) | |||||||||||||||||||
Exclude REO operations | (53) | 11 | 71 | (93) | |||||||||||||||||||
Adjusted non-interest expense (non-GAAP) | $ | 91,652 | $ | 86,196 | $ | 268,587 | $ | 260,137 | |||||||||||||||
Net interest income (GAAP) | $ | 130,146 | $ | 121,026 | $ | 375,361 | $ | 359,864 | |||||||||||||||
Non-interest income (GAAP) | 25,334 | 28,222 | 71,942 | 75,107 | |||||||||||||||||||
Total revenue | 155,480 | 149,248 | 447,303 | 434,971 | |||||||||||||||||||
Exclude net gain on sale of securities | (56) | (644) | (618) | (815) | |||||||||||||||||||
Exclude net change in valuation of financial instruments carried at fair value | (1,778) | (37) | (1,895) | 2,360 | |||||||||||||||||||
Adjusted revenue (non-GAAP) | $ | 153,646 | $ | 148,567 | $ | 444,790 | $ | 436,516 | |||||||||||||||
Efficiency ratio (GAAP) | 65.70 | % | 60.32 | % | 64.45 | % | 63.00 | % | |||||||||||||||
Adjusted efficiency ratio (non-GAAP) | 59.65 | % | 58.02 | % | 60.39 | % | 59.59 | % |
TANGIBLE COMMON SHAREHOLDERS’ EQUITY TO TANGIBLE ASSETS | |||||||||||||||||
September 30, 2021 | December 31, 2020 | September 30, 2020 | |||||||||||||||
Shareholders’ equity (GAAP) | $ | 1,667,119 | $ | 1,666,264 | $ | 1,646,529 | |||||||||||
Exclude goodwill and other intangible assets, net | 389,550 | 394,547 | 396,412 | ||||||||||||||
Tangible common shareholders’ equity (non-GAAP) | $ | 1,277,569 | $ | 1,271,717 | $ | 1,250,117 | |||||||||||
Total assets (GAAP) | $ | 16,637,879 | $ | 15,031,623 | $ | 14,642,075 | |||||||||||
Exclude goodwill and other intangible assets, net | 389,550 | 394,547 | 396,412 | ||||||||||||||
Total tangible assets (non-GAAP) | $ | 16,248,329 | $ | 14,637,076 | $ | 14,245,663 | |||||||||||
Common shareholders’ equity to total assets (GAAP) | 10.02 | % | 11.09 | % | 11.25 | % | |||||||||||
Tangible common shareholders’ equity to tangible assets (non-GAAP) | 7.86 | % | 8.69 | % | 8.78 | % | |||||||||||
TANGIBLE COMMON SHAREHOLDERS’ EQUITY PER SHARE | |||||||||||||||||
Tangible common shareholders’ equity (non-GAAP) | $ | 1,277,569 | $ | 1,271,717 | $ | 1,250,117 | |||||||||||
Common shares outstanding at end of period | 34,251,991 | 35,159,200 | 35,158,568 | ||||||||||||||
Common shareholders’ equity (book value) per share (GAAP) | $ | 48.67 | $ | 47.39 | $ | 46.83 | |||||||||||
Tangible common shareholders’ equity (tangible book value) per share (non-GAAP) | $ | 37.30 | $ | 36.17 | $ | 35.56 |
Percentage Change | |||||||||||||||||||||||||||||
Sep 30, 2021 | Dec 31, 2020 | Sep 30, 2020 | Prior Year End | Prior Year | |||||||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||
Owner-occupied | $ | 1,122,275 | $ | 1,076,467 | $ | 1,049,877 | 4.3 | % | 6.9 | % | |||||||||||||||||||
Investment properties | 1,980,284 | 1,955,684 | 1,991,258 | 1.3 | (0.6) | ||||||||||||||||||||||||
Small balance CRE | 601,751 | 573,849 | 597,971 | 4.9 | 0.6 | ||||||||||||||||||||||||
Multifamily real estate | 532,760 | 428,223 | 426,659 | 24.4 | 24.9 | ||||||||||||||||||||||||
Construction, land and land development: | |||||||||||||||||||||||||||||
Commercial construction | 170,205 | 228,937 | 220,285 | (25.7) | (22.7) | ||||||||||||||||||||||||
Multifamily construction | 278,184 | 305,527 | 291,105 | (8.9) | (4.4) | ||||||||||||||||||||||||
One- to four-family construction | 571,431 | 507,810 | 518,085 | 12.5 | 10.3 | ||||||||||||||||||||||||
Land and land development | 308,164 | 248,915 | 240,803 | 23.8 | 28.0 | ||||||||||||||||||||||||
Commercial business: | |||||||||||||||||||||||||||||
Commercial business | 1,039,731 | 1,133,989 | 1,193,651 | (8.3) | (12.9) | ||||||||||||||||||||||||
SBA PPP | 306,976 | 1,044,472 | 1,149,968 | (70.6) | (73.3) | ||||||||||||||||||||||||
Small business scored | 775,554 | 743,451 | 763,824 | 4.3 | 1.5 | ||||||||||||||||||||||||
Agricultural business, including secured by farmland: | |||||||||||||||||||||||||||||
Agricultural business, including secured by farmland | 284,255 | 299,949 | 326,169 | (5.2) | (12.9) | ||||||||||||||||||||||||
SBA PPP | 3,214 | — | — | nm | nm | ||||||||||||||||||||||||
One- to four-family residential | 682,368 | 717,939 | 771,431 | (5.0) | (11.5) | ||||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||||||
Consumer—home equity revolving lines of credit | 462,819 | 491,812 | 504,523 | (5.9) | (8.3) | ||||||||||||||||||||||||
Consumer—other | 98,413 | 113,958 | 118,308 | (13.6) | (16.8) | ||||||||||||||||||||||||
Total loans receivable | $ | 9,218,384 | $ | 9,870,982 | $ | 10,163,917 | (6.6) | % | (9.3) | % |
Three Months Ended | Nine months ended | ||||||||||||||||||||||
Sep 30, 2021 | Sep 30, 2020 | Sep 30, 2021 | Sep 30, 2020 | ||||||||||||||||||||
Commercial real estate | $ | 174,827 | $ | 74,400 | $ | 369,459 | $ | 262,524 | |||||||||||||||
Multifamily real estate | 26,155 | 2,664 | 84,707 | 19,219 | |||||||||||||||||||
Construction and land | 496,386 | 412,463 | 1,453,583 | 1,073,031 | |||||||||||||||||||
Commercial business: | |||||||||||||||||||||||
Commercial business | 229,859 | 128,729 | 527,766 | 495,869 | |||||||||||||||||||
SBA PPP | 907 | 24,848 | 485,077 | 1,176,018 | |||||||||||||||||||
Agricultural business | 9,223 | 16,990 | 48,936 | 64,544 | |||||||||||||||||||
One-to four- family residential | 49,594 | 32,733 | 154,411 | 88,311 | |||||||||||||||||||
Consumer | 145,102 | 132,100 | 363,848 | 326,110 | |||||||||||||||||||
Total commitment amount for loan originations (excluding loans held for sale) | $ | 1,132,053 | $ | 824,927 | $ | 3,487,787 | $ | 3,505,626 |
Sep 30, 2021 | Dec 31, 2020 | Sep 30, 2020 | Percentage Change | ||||||||||||||||||||||||||||||||
Amount | Percentage | Amount | Amount | Prior Year End | Prior Year Qtr | ||||||||||||||||||||||||||||||
Washington | $ | 4,319,008 | 46.9 | % | $ | 4,647,553 | $ | 4,767,113 | (7.1) | % | (9.4) | % | |||||||||||||||||||||||
California | 2,160,280 | 23.4 | 2,279,749 | 2,316,739 | (5.2) | (6.8) | |||||||||||||||||||||||||||||
Oregon | 1,679,452 | 18.2 | 1,792,156 | 1,858,465 | (6.3) | (9.6) | |||||||||||||||||||||||||||||
Idaho | 536,128 | 5.8 | 537,996 | 576,983 | (0.3) | (7.1) | |||||||||||||||||||||||||||||
Utah | 89,620 | 1.0 | 80,704 | 76,314 | 11.0 | 17.4 | |||||||||||||||||||||||||||||
Other | 433,896 | 4.7 | 532,824 | 568,303 | (18.6) | (23.7) | |||||||||||||||||||||||||||||
Total loans receivable | $ | 9,218,384 | 100.0 | % | $ | 9,870,982 | $ | 10,163,917 | (6.6) | % | (9.3) | % |
Percentage Change | |||||||||||||||||||||||||||||
Sep 30, 2021 | Dec 31, 2020 | Sep 30, 2020 | Prior Year End | Prior Year Quarter | |||||||||||||||||||||||||
Non-interest-bearing | $ | 6,400,864 | $ | 5,492,924 | $ | 5,412,570 | 16.5 | % | 18.3 | % | |||||||||||||||||||
Interest-bearing checking | 1,799,657 | 1,569,435 | 1,434,224 | 14.7 | 25.5 | ||||||||||||||||||||||||
Regular savings accounts | 2,773,995 | 2,398,482 | 2,332,287 | 15.7 | 18.9 | ||||||||||||||||||||||||
Money market accounts | 2,339,107 | 2,191,135 | 2,120,908 | 6.8 | 10.3 | ||||||||||||||||||||||||
Interest-bearing transaction & savings accounts | 6,912,759 | 6,159,052 | 5,887,419 | 12.2 | 17.4 | ||||||||||||||||||||||||
Total core deposits | 13,313,623 | 11,651,976 | 11,299,989 | 14.3 | 17.8 | ||||||||||||||||||||||||
Interest-bearing certificates | 851,054 | 915,320 | 915,352 | (7.0) | (7.0) | ||||||||||||||||||||||||
Total deposits | $ | 14,164,677 | $ | 12,567,296 | $ | 12,215,341 | 12.7 | % | 16.0 | % |
Sep 30, 2021 | Dec 31, 2020 | Sep 30, 2020 | Percentage Change | ||||||||||||||||||||||||||||||||
Amount | Percentage | Amount | Amount | Prior Year End | Prior Year Quarter | ||||||||||||||||||||||||||||||
Washington | $ | 7,877,919 | 55.6 | % | $ | 7,058,404 | $ | 6,820,329 | 11.6 | % | 15.5 | % | |||||||||||||||||||||||
Oregon | 3,030,109 | 21.4 | 2,604,908 | 2,486,760 | 16.3 | 21.8 | |||||||||||||||||||||||||||||
California | 2,501,521 | 17.7 | 2,237,949 | 2,254,681 | 11.8 | 10.9 | |||||||||||||||||||||||||||||
Idaho | 755,128 | 5.3 | 666,035 | 653,571 | 13.4 | 15.5 | |||||||||||||||||||||||||||||
Total deposits | $ | 14,164,677 | 100.0 | % | $ | 12,567,296 | $ | 12,215,341 | 12.7 | % | 16.0 | % |
Three Months Ended September 30, 2021 | Three Months Ended September 30, 2020 | ||||||||||||||||||||||||||||||||||
Average Balance | Interest and Dividends | Yield/ Cost (3) | Average Balance | Interest and Dividends | Yield/ Cost (3) | ||||||||||||||||||||||||||||||
Interest-earning assets: | |||||||||||||||||||||||||||||||||||
Held for sale loans | $ | 114,938 | $ | 996 | 3.44 | % | $ | 161,385 | $ | 1,535 | 3.78 | % | |||||||||||||||||||||||
Mortgage loans | 7,245,962 | 83,803 | 4.59 | 7,339,181 | 88,011 | 4.77 | |||||||||||||||||||||||||||||
Commercial/agricultural loans | 1,534,978 | 15,776 | 4.08 | 1,721,186 | 18,553 | 4.29 | |||||||||||||||||||||||||||||
SBA PPP loans | 566,515 | 15,421 | 10.80 | 1,141,105 | 7,843 | 2.73 | |||||||||||||||||||||||||||||
Consumer and other loans | 120,112 | 1,774 | 5.86 | 140,493 | 2,195 | 6.22 | |||||||||||||||||||||||||||||
Total loans(1)(3) | 9,582,505 | 117,770 | 4.88 | 10,503,350 | 118,137 | 4.47 | |||||||||||||||||||||||||||||
Mortgage-backed securities | 2,560,027 | 11,820 | 1.83 | 1,250,759 | 7,333 | 2.33 | |||||||||||||||||||||||||||||
Other securities | 1,491,035 | 7,873 | 2.09 | 884,916 | 6,036 | 2.71 | |||||||||||||||||||||||||||||
Equity securities | — | — | — | 379,483 | 186 | 0.19 | |||||||||||||||||||||||||||||
Interest-bearing deposits with banks | 1,486,839 | 586 | 0.16 | 171,894 | 123 | 0.28 | |||||||||||||||||||||||||||||
FHLB stock | 13,957 | 135 | 3.84 | 16,363 | 163 | 3.96 | |||||||||||||||||||||||||||||
Total investment securities (3) | 5,551,858 | 20,414 | 1.46 | 2,703,415 | 13,841 | 2.04 | |||||||||||||||||||||||||||||
Total interest-earning assets | 15,134,363 | 138,184 | 3.62 | 13,206,765 | 131,978 | 3.98 | |||||||||||||||||||||||||||||
Non-interest-earning assets | 1,301,383 | 1,259,816 | |||||||||||||||||||||||||||||||||
Total assets | $ | 16,435,746 | $ | 14,466,581 | |||||||||||||||||||||||||||||||
Deposits: | |||||||||||||||||||||||||||||||||||
Interest-bearing checking accounts | $ | 1,771,869 | 282 | 0.06 | $ | 1,413,085 | 321 | 0.09 | |||||||||||||||||||||||||||
Savings accounts | 2,721,028 | 458 | 0.07 | 2,251,294 | 813 | 0.14 | |||||||||||||||||||||||||||||
Money market accounts | 2,322,453 | 668 | 0.11 | 2,096,037 | 1,224 | 0.23 | |||||||||||||||||||||||||||||
Certificates of deposit | 863,971 | 1,341 | 0.62 | 966,028 | 2,821 | 1.16 | |||||||||||||||||||||||||||||
Total interest-bearing deposits | 7,679,321 | 2,749 | 0.14 | 6,726,444 | 5,179 | 0.31 | |||||||||||||||||||||||||||||
Non-interest-bearing deposits | 6,275,634 | — | — | 5,340,688 | — | — | |||||||||||||||||||||||||||||
Total deposits | 13,954,955 | 2,749 | 0.08 | 12,067,132 | 5,179 | 0.17 | |||||||||||||||||||||||||||||
Other interest-bearing liabilities: | |||||||||||||||||||||||||||||||||||
FHLB advances | 98,370 | 655 | 2.64 | 150,000 | 988 | 2.62 | |||||||||||||||||||||||||||||
Other borrowings | 252,720 | 125 | 0.20 | 177,628 | 128 | 0.29 | |||||||||||||||||||||||||||||
Subordinated debt | 247,944 | 2,193 | 3.51 | 247,944 | 2,260 | 3.63 | |||||||||||||||||||||||||||||
Total borrowings | 599,034 | 2,973 | 1.97 | 575,572 | 3,376 | 2.33 | |||||||||||||||||||||||||||||
Total funding liabilities | 14,553,989 | 5,722 | 0.16 | 12,642,704 | 8,555 | 0.27 | |||||||||||||||||||||||||||||
Other non-interest-bearing liabilities (2) | 202,918 | 193,256 | |||||||||||||||||||||||||||||||||
Total liabilities | 14,756,907 | 12,835,960 | |||||||||||||||||||||||||||||||||
Shareholders’ equity | 1,678,839 | 1,630,621 | |||||||||||||||||||||||||||||||||
Total liabilities and shareholders’ equity | $ | 16,435,746 | $ | 14,466,581 | |||||||||||||||||||||||||||||||
Net interest income/rate spread (tax equivalent) | $ | 132,462 | 3.46 | % | $ | 123,423 | 3.71 | % | |||||||||||||||||||||||||||
Net interest margin (tax equivalent) | 3.47 | % | 3.72 | % | |||||||||||||||||||||||||||||||
Reconciliation to reported net interest income: | |||||||||||||||||||||||||||||||||||
Adjustments for taxable equivalent basis | (2,316) | (2,397) | |||||||||||||||||||||||||||||||||
Net interest income and margin | $ | 130,146 | 3.41 | % | $ | 121,026 | 3.65 | % | |||||||||||||||||||||||||||
Additional Key Financial Ratios: | |||||||||||||||||||||||||||||||||||
Return on average assets | 1.20 | % | 1.01 | % | |||||||||||||||||||||||||||||||
Return on average equity | 11.79 | 8.92 | |||||||||||||||||||||||||||||||||
Average equity / average assets | 10.21 | 11.27 | |||||||||||||||||||||||||||||||||
Average interest-earning assets / average interest-bearing liabilities | 182.82 | 180.86 | |||||||||||||||||||||||||||||||||
Average interest-earning assets / average funding liabilities | 103.99 | 104.46 | |||||||||||||||||||||||||||||||||
Non-interest income / average assets | 0.61 | 0.78 | |||||||||||||||||||||||||||||||||
Non-interest expense / average assets | 2.47 | 2.48 | |||||||||||||||||||||||||||||||||
Efficiency ratio (4) | 65.70 | 60.32 | |||||||||||||||||||||||||||||||||
Adjusted efficiency ratio (5) | 59.65 | 58.02 |
Nine months ended September 30, 2021 | Nine months ended September 30, 2020 | ||||||||||||||||||||||||||||||||||
Average Balance | Interest and Dividends | Yield/ Cost (3) | Average Balance | Interest and Dividends | Yield/ Cost (3) | ||||||||||||||||||||||||||||||
Interest-earning assets: | |||||||||||||||||||||||||||||||||||
Held for sale loans | $ | 101,380 | $ | 2,465 | 3.25 | % | $ | 155,571 | $ | 4,506 | 3.87 | % | |||||||||||||||||||||||
Mortgage loans | 7,179,859 | 245,056 | 4.56 | 7,321,206 | 268,244 | 4.89 | |||||||||||||||||||||||||||||
Commercial/agricultural loans | 1,511,723 | 47,513 | 4.20 | 1,811,854 | 61,424 | 4.53 | |||||||||||||||||||||||||||||
SBA PPP loans | 958,848 | 44,009 | 6.14 | 638,380 | 13,131 | 2.75 | |||||||||||||||||||||||||||||
Consumer and other loans | 123,483 | 5,549 | 6.01 | 151,968 | 7,151 | 6.29 | |||||||||||||||||||||||||||||
Total loans(1)(3) | 9,875,293 | 344,592 | 4.67 | 10,078,979 | 354,456 | 4.70 | |||||||||||||||||||||||||||||
Mortgage-backed securities | 2,320,474 | 32,855 | 1.89 | 1,297,020 | 24,652 | 2.54 | |||||||||||||||||||||||||||||
Other securities | 1,265,056 | 21,648 | 2.29 | 710,967 | 15,205 | 2.86 | |||||||||||||||||||||||||||||
Equity securities | 574 | — | — | 165,395 | 309 | 0.25 | |||||||||||||||||||||||||||||
Interest-bearing deposits with banks | 1,221,241 | 1,224 | 0.13 | 159,065 | 688 | 0.58 | |||||||||||||||||||||||||||||
FHLB stock | 14,629 | 457 | 4.18 | 19,822 | 785 | 5.29 | |||||||||||||||||||||||||||||
Total investment securities (3) | 4,821,974 | 56,184 | 1.56 | 2,352,269 | 41,639 | 2.36 | |||||||||||||||||||||||||||||
Total interest-earning assets | 14,697,267 | 400,776 | 3.65 | 12,431,248 | 396,095 | 4.26 | |||||||||||||||||||||||||||||
Non-interest-earning assets | 1,255,512 | 1,232,997 | |||||||||||||||||||||||||||||||||
Total assets | $ | 15,952,779 | $ | 13,664,245 | |||||||||||||||||||||||||||||||
Deposits: | |||||||||||||||||||||||||||||||||||
Interest-bearing checking accounts | $ | 1,714,920 | 899 | 0.07 | $ | 1,352,369 | 1,164 | 0.11 | |||||||||||||||||||||||||||
Savings accounts | 2,611,046 | 1,433 | 0.07 | 2,133,780 | 3,566 | 0.22 | |||||||||||||||||||||||||||||
Money market accounts | 2,284,904 | 2,111 | 0.12 | 1,940,096 | 5,228 | 0.36 | |||||||||||||||||||||||||||||
Certificates of deposit | 888,502 | 4,943 | 0.74 | 1,069,145 | 10,665 | 1.33 | |||||||||||||||||||||||||||||
Total interest-bearing deposits | 7,499,372 | 9,386 | 0.17 | 6,495,390 | 20,623 | 0.42 | |||||||||||||||||||||||||||||
Non-interest-bearing deposits | 6,001,354 | — | — | 4,738,559 | — | — | |||||||||||||||||||||||||||||
Total deposits | 13,500,726 | 9,386 | 0.09 | 11,233,949 | 20,623 | 0.25 | |||||||||||||||||||||||||||||
Other interest-bearing liabilities: | |||||||||||||||||||||||||||||||||||
FHLB advances | 114,103 | 2,244 | 2.63 | 236,949 | 4,036 | 2.28 | |||||||||||||||||||||||||||||
Other borrowings | 232,142 | 358 | 0.21 | 195,977 | 482 | 0.33 | |||||||||||||||||||||||||||||
Junior subordinated debentures and subordinated notes | 247,944 | 6,605 | 3.56 | 181,886 | 4,988 | 3.66 | |||||||||||||||||||||||||||||
Total borrowings | 594,189 | 9,207 | 2.07 | 614,812 | 9,506 | 2.07 | |||||||||||||||||||||||||||||
Total funding liabilities | 14,094,915 | 18,593 | 0.18 | 11,848,761 | 30,129 | 0.34 | |||||||||||||||||||||||||||||
Other non-interest-bearing liabilities (2) | 203,349 | 197,912 | |||||||||||||||||||||||||||||||||
Total liabilities | 14,298,264 | 12,046,673 | |||||||||||||||||||||||||||||||||
Shareholders’ equity | 1,654,515 | 1,617,572 | |||||||||||||||||||||||||||||||||
Total liabilities and shareholders’ equity | $ | 15,952,779 | $ | 13,664,245 | |||||||||||||||||||||||||||||||
Net interest income/rate spread (tax equivalent) | $ | 382,183 | 3.47 | % | $ | 365,966 | 3.92 | % | |||||||||||||||||||||||||||
Net interest margin (tax equivalent) | 3.48 | % | 3.93 | % | |||||||||||||||||||||||||||||||
Reconciliation to reported net interest income: | |||||||||||||||||||||||||||||||||||
Adjustments for taxable equivalent basis | (6,822) | (6,102) | |||||||||||||||||||||||||||||||||
Net interest income and margin | $ | 375,361 | 3.41 | % | $ | 359,864 | 3.87 | % | |||||||||||||||||||||||||||
Additional Key Financial Ratios: | |||||||||||||||||||||||||||||||||||
Return on average assets | 1.27 | % | 0.75 | % | |||||||||||||||||||||||||||||||
Return on average equity | 12.21 | 6.36 | |||||||||||||||||||||||||||||||||
Average equity / average assets | 10.37 | 11.84 | |||||||||||||||||||||||||||||||||
Average interest-earning assets / average interest-bearing liabilities | 181.59 | 174.84 | |||||||||||||||||||||||||||||||||
Average interest-earning assets / average funding liabilities | 104.27 | 104.92 | |||||||||||||||||||||||||||||||||
Non-interest income / average assets | 0.60 | 0.73 | |||||||||||||||||||||||||||||||||
Non-interest expense / average assets | 2.42 | 2.68 | |||||||||||||||||||||||||||||||||
Efficiency ratio (4) | 64.45 | 63.00 | |||||||||||||||||||||||||||||||||
Adjusted efficiency ratio (5) | 60.39 | 59.59 |
ADDITIONAL FINANCIAL INFORMATION | ||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||
Quarters Ended | ||||||||||||||||||||
CHANGE IN THE | Sep 30, 2021 | June 30, 2021 | Sep 30, 2020 | |||||||||||||||||
ALLOWANCE FOR CREDIT LOSSES - LOANS | ||||||||||||||||||||
Balance, beginning of period | $ | 148,009 | $ | 156,054 | $ | 156,352 | ||||||||||||||
(Recapture)/provision for credit losses – loans | (8,850) | (8,100) | 13,641 | |||||||||||||||||
Recoveries of loans previously charged off: | ||||||||||||||||||||
Commercial real estate | 923 | 147 | 23 | |||||||||||||||||
One- to four-family residential | 19 | 20 | 94 | |||||||||||||||||
Commercial business | 230 | 321 | 246 | |||||||||||||||||
Agricultural business, including secured by farmland | 17 | 8 | — | |||||||||||||||||
Consumer | 227 | 97 | 82 | |||||||||||||||||
1,416 | 593 | 445 | ||||||||||||||||||
Loans charged off: | ||||||||||||||||||||
Commercial real estate | — | (3) | (379) | |||||||||||||||||
One- to four-family residential | — | — | (72) | |||||||||||||||||
Commercial business | (362) | (123) | (1,297) | |||||||||||||||||
Agricultural business, including secured by farmland | (179) | (2) | (492) | |||||||||||||||||
Consumer | (119) | (410) | (233) | |||||||||||||||||
(660) | (538) | (2,473) | ||||||||||||||||||
Net recoveries (charge-offs) | 756 | 55 | (2,028) | |||||||||||||||||
Balance, end of period | $ | 139,915 | $ | 148,009 | $ | 167,965 | ||||||||||||||
Net recoveries (charge-offs) / Average loans receivable | 0.008 | % | 0.001 | % | (0.019) | % |
Quarters Ended | Nine Months Ended | |||||||||||||||||||||||||
CHANGE IN THE | Sep 30, 2021 | Sep 30, 2020 | Sep 30, 2021 | Sep 30, 2020 | ||||||||||||||||||||||
ALLOWANCE FOR CREDIT LOSSES - UNFUNDED LOAN COMMITMENTS | ||||||||||||||||||||||||||
Balance, beginning of period | $ | 9,909 | $ | 10,555 | $ | 13,297 | $ | 2,716 | ||||||||||||||||||
Beginning balance adjustment for adoption of ASC 326 | — | — | — | 7,022 | ||||||||||||||||||||||
Provision/(recapture) for credit losses - unfunded loan commitments | 218 | 1,539 | (3,170) | 2,356 | ||||||||||||||||||||||
Balance, end of period | $ | 10,127 | $ | 12,094 | $ | 10,127 | $ | 12,094 |
Three months ended September 30, | Nine months ended September 30, | ||||||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | Change Amount | Change Percent | 2021 | 2020 | Change Amount | Change Percent | ||||||||||||||||||||||||||||||||||||||||
Deposit fees and other service charges | $ | 10,457 | $ | 8,742 | $ | 1,715 | 19.6 | % | $ | 29,154 | $ | 26,091 | $ | 3,063 | 11.7 | % | |||||||||||||||||||||||||||||||
Mortgage banking operations | 9,752 | 16,562 | (6,810) | (41.1) | 28,670 | 40,891 | (12,221) | (29.9) | |||||||||||||||||||||||||||||||||||||||
Bank owned life insurance | 1,245 | 1,286 | (41) | (3.2) | 3,797 | 4,653 | (856) | (18.4) | |||||||||||||||||||||||||||||||||||||||
Miscellaneous | 2,046 | 951 | 1,095 | 115.1 | 7,808 | 5,017 | 2,791 | 55.6 | |||||||||||||||||||||||||||||||||||||||
23,500 | 27,541 | (4,041) | (14.7) | 69,429 | 76,652 | (7,223) | (9.4) | ||||||||||||||||||||||||||||||||||||||||
Net gain on sale of securities | 56 | 644 | (588) | (91.3) | 618 | 815 | (197) | (24.2) | |||||||||||||||||||||||||||||||||||||||
Net change in valuation of financial instruments carried at fair value | 1,778 | 37 | 1,741 | nm | 1,895 | (2,360) | 4,255 | (180.3) | |||||||||||||||||||||||||||||||||||||||
Total non-interest income | $ | 25,334 | $ | 28,222 | $ | (2,888) | (10.2) | $ | 71,942 | $ | 75,107 | $ | (3,165) | (4.2) |
Three months ended September 30, | Nine months ended September 30, | ||||||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | Change Amount | Change Percent | 2021 | 2020 | Change Amount | Change Percent | ||||||||||||||||||||||||||||||||||||||||
Salaries and employee benefits | $ | 59,799 | $ | 61,171 | $ | (1,372) | (2.2) | % | $ | 186,553 | $ | 184,494 | $ | 2,059 | 1.1 | % | |||||||||||||||||||||||||||||||
Less capitalized loan origination costs | (8,290) | (8,517) | 227 | (2.7) | (26,754) | (25,433) | (1,321) | 5.2 | |||||||||||||||||||||||||||||||||||||||
Occupancy and equipment | 13,153 | 13,022 | 131 | 1.0 | 38,965 | 39,114 | (149) | (0.4) | |||||||||||||||||||||||||||||||||||||||
Information/computer data services | 6,110 | 6,090 | 20 | 0.3 | 17,915 | 17,984 | (69) | (0.4) | |||||||||||||||||||||||||||||||||||||||
Payment and card processing expenses | 6,181 | 4,044 | 2,137 | 52.8 | 15,482 | 12,135 | 3,347 | 27.6 | |||||||||||||||||||||||||||||||||||||||
Professional and legal expenses | 12,324 | 2,368 | 9,956 | 420.4 | 20,023 | 6,450 | 13,573 | 210.4 | |||||||||||||||||||||||||||||||||||||||
Advertising and marketing | 1,521 | 1,105 | 416 | 37.6 | 3,965 | 3,584 | 381 | 10.6 | |||||||||||||||||||||||||||||||||||||||
Deposit insurance expense | 1,469 | 1,628 | (159) | (9.8) | 4,243 | 4,968 | (725) | (14.6) | |||||||||||||||||||||||||||||||||||||||
State/municipal business and use taxes | 1,219 | 1,196 | 23 | 1.9 | 3,367 | 3,284 | 83 | 2.5 | |||||||||||||||||||||||||||||||||||||||
REO operations | 53 | (11) | 64 | (581.8) | (71) | 93 | (164) | (176.3) | |||||||||||||||||||||||||||||||||||||||
Amortization of core deposit intangibles | 1,575 | 1,864 | (289) | (15.5) | 4,997 | 5,867 | (870) | (14.8) | |||||||||||||||||||||||||||||||||||||||
Miscellaneous | 6,977 | 5,285 | 1,692 | 32.0 | 18,642 | 16,841 | 1,801 | 10.7 | |||||||||||||||||||||||||||||||||||||||
102,091 | 89,245 | 12,846 | 14.4 | 287,327 | 269,381 | 17,946 | 6.7 | ||||||||||||||||||||||||||||||||||||||||
COVID-19 expenses | 44 | 778 | (734) | (94.3) | 309 | 3,169 | (2,860) | (90.2) | |||||||||||||||||||||||||||||||||||||||
Merger and acquisition-related expenses | 10 | 5 | 5 | 100.0 | 660 | 1,483 | (823) | (55.5) | |||||||||||||||||||||||||||||||||||||||
Total non-interest expense | $ | 102,145 | $ | 90,028 | $ | 12,117 | 13.5 | % | $ | 288,296 | $ | 274,033 | $ | 14,263 | 5.2 | % |
September 30, 2021 | December 31, 2020 | September 30, 2020 | |||||||||||||||
Nonaccrual Loans: (1) | |||||||||||||||||
Secured by real estate: | |||||||||||||||||
Commercial | $ | 14,931 | $ | 18,199 | $ | 7,824 | |||||||||||
Construction and land | 354 | 936 | 937 | ||||||||||||||
One- to four-family | 3,182 | 3,556 | 2,978 | ||||||||||||||
Commercial business | 2,700 | 5,407 | 14,867 | ||||||||||||||
Agricultural business, including secured by farmland | 1,022 | 1,743 | 2,066 | ||||||||||||||
Consumer | 1,850 | 2,719 | 2,896 | ||||||||||||||
24,039 | 32,560 | 31,568 | |||||||||||||||
Loans more than 90 days delinquent, still on accrual: | |||||||||||||||||
Secured by real estate: | |||||||||||||||||
Commercial | 3,955 | — | — | ||||||||||||||
One- to four-family | 772 | 1,899 | 2,649 | ||||||||||||||
Commercial business | 61 | 1,025 | 425 | ||||||||||||||
Consumer | 34 | 130 | 181 | ||||||||||||||
4,822 | 3,054 | 3,255 | |||||||||||||||
Total non-performing loans | 28,861 | 35,614 | 34,823 | ||||||||||||||
REO, net (2) | 852 | 816 | 1,795 | ||||||||||||||
Other repossessed assets held for sale | 17 | 51 | 37 | ||||||||||||||
Total non-performing assets | $ | 29,730 | $ | 36,481 | $ | 36,655 | |||||||||||
Total non-performing loans to loans before allowance for credit losses | 0.31 | % | 0.36 | % | 0.34 | % | |||||||||||
Total non-performing loans to total assets | 0.17 | % | 0.24 | % | 0.24 | % | |||||||||||
Total non-performing assets to total assets | 0.18 | % | 0.24 | % | 0.25 | % | |||||||||||
Total nonaccrual loans to loans before allowance for credit losses | 0.26 | % | 0.33 | % | 0.31 | % | |||||||||||
Restructured loans performing under their restructured terms (3) | $ | 5,273 | $ | 6,673 | $ | 5,790 | |||||||||||
Loans 30-89 days past due and on accrual | $ | 6,911 | $ | 12,291 | $ | 18,158 |
September 30, 2021 | December 31, 2020 | September 30, 2020 | |||||||||||||||
Pass | $ | 8,956,604 | $ | 9,494,147 | $ | 9,699,098 | |||||||||||
Special Mention | 36,001 | 36,598 | 41,575 | ||||||||||||||
Substandard | 225,779 | 340,237 | 423,244 | ||||||||||||||
Total | $ | 9,218,384 | $ | 9,870,982 | $ | 10,163,917 |
Three Months Ended | Nine months ended | ||||||||||||||||||||||
Sep 30, 2021 | Sep 30, 2020 | Sep 30, 2021 | Sep 30, 2020 | ||||||||||||||||||||
Balance, beginning of period | $ | 763 | $ | 2,400 | $ | 816 | $ | 814 | |||||||||||||||
Additions from loan foreclosures | 89 | — | 512 | 1,588 | |||||||||||||||||||
Proceeds from dispositions of REO | — | (707) | (783) | (805) | |||||||||||||||||||
Gain on sale of REO | — | 120 | 307 | 216 | |||||||||||||||||||
Valuation adjustments in the period | — | (18) | — | (18) | |||||||||||||||||||
Balance, end of period | $ | 852 | $ | 1,795 | $ | 852 | $ | 1,795 |
Actual | Minimum to be Categorized as “Adequately Capitalized” | Minimum to be Categorized as “Well-Capitalized” | ||||||||||||||||||||||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Amount | |||||||||||||||||||||||||||||||||
Banner Corporation—consolidated | ||||||||||||||||||||||||||||||||||||||
Total capital to risk-weighted assets | $ | 1,635,458 | 14.71 | % | $ | 889,533 | 8.00 | % | $ | 1,111,916 | 10.00 | % | ||||||||||||||||||||||||||
Tier 1 capital to risk-weighted assets | 1,407,993 | 12.66 | 667,149 | 6.00 | 667,149 | 6.00 | ||||||||||||||||||||||||||||||||
Tier 1 leverage capital to average assets | 1,407,993 | 8.79 | 640,528 | 4.00 | n/a | n/a | ||||||||||||||||||||||||||||||||
Common equity tier 1 capital | 1,264,493 | 11.37 | 500,362 | 4.50 | n/a | n/a | ||||||||||||||||||||||||||||||||
Banner Bank | ||||||||||||||||||||||||||||||||||||||
Total capital to risk-weighted assets | 1,524,897 | 13.72 | 889,034 | 8.00 | 1,111,292 | 10.00 | ||||||||||||||||||||||||||||||||
Tier 1 capital to risk-weighted assets | 1,397,432 | 12.57 | 666,775 | 6.00 | 889,034 | 8.00 | ||||||||||||||||||||||||||||||||
Tier 1 leverage capital to average assets | 1,397,432 | 8.73 | 640,385 | 4.00 | 800,482 | 5.00 | ||||||||||||||||||||||||||||||||
Common equity tier 1 capital | 1,397,432 | 12.57 | 500,081 | 4.50 | 722,340 | 6.50 |
Estimated Increase (Decrease) in | ||||||||||||||||||||||||||||||||||||||
Change (in Basis Points) in Interest Rates (1) | Net Interest Income Next 12 Months | Net Interest Income Next 24 Months | Economic Value of Equity | |||||||||||||||||||||||||||||||||||
+400 | $ | 87,175 | 18.7 | % | $ | 204,162 | 22.1 | % | $ | (256,477) | (10.7) | % | ||||||||||||||||||||||||||
+300 | 75,127 | 16.1 | 176,495 | 19.1 | (173,602) | (7.2) | ||||||||||||||||||||||||||||||||
+200 | 56,016 | 12.0 | 132,671 | 14.3 | (80,481) | (3.4) | ||||||||||||||||||||||||||||||||
+100 | 30,740 | 6.6 | 73,833 | 8.0 | 4,991 | 0.2 | ||||||||||||||||||||||||||||||||
0 | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||
-25 | (5,892) | (1.3) | (14,677) | (1.6) | (30,725) | (1.3) | ||||||||||||||||||||||||||||||||
Within 6 Months | After 6 Months Within 1 Year | After 1 Year Within 3 Years | After 3 Years Within 5 Years | After 5 Years Within 10 Years | Over 10 Years | Total | |||||||||||||||||||||||||||||||||||
Interest-earning assets: (1) | |||||||||||||||||||||||||||||||||||||||||
Construction loans | $ | 784,648 | $ | 59,360 | $ | 114,830 | $ | 28,353 | $ | 13,380 | $ | 1,003 | $ | 1,001,574 | |||||||||||||||||||||||||||
Fixed-rate mortgage loans | 375,542 | 270,857 | 789,520 | 446,125 | 400,857 | 19,207 | 2,302,108 | ||||||||||||||||||||||||||||||||||
Adjustable-rate mortgage loans | 1,184,707 | 363,898 | 1,078,868 | 817,080 | 172,314 | 1,830 | 3,618,697 | ||||||||||||||||||||||||||||||||||
Fixed-rate mortgage-backed securities | 192,802 | 173,608 | 538,576 | 404,216 | 749,163 | 374,014 | 2,432,379 | ||||||||||||||||||||||||||||||||||
Adjustable-rate mortgage-backed securities | 398,775 | 66,051 | 21,698 | 2,607 | 7,136 | — | 496,267 | ||||||||||||||||||||||||||||||||||
Fixed-rate commercial/agricultural loans | 125,785 | 158,801 | 334,445 | 209,729 | 117,345 | 38,641 | 984,746 | ||||||||||||||||||||||||||||||||||
Adjustable-rate commercial/agricultural loans | 649,515 | 32,818 | 73,414 | 35,628 | 9,625 | — | 801,000 | ||||||||||||||||||||||||||||||||||
Consumer and other loans | 442,104 | 29,499 | 40,083 | 14,827 | 16,236 | 33,268 | 576,017 | ||||||||||||||||||||||||||||||||||
Investment securities and interest-earning deposits | 2,258,787 | 17,995 | 91,235 | 143,224 | 377,641 | 153,921 | 3,042,803 | ||||||||||||||||||||||||||||||||||
Total rate sensitive assets | 6,412,665 | 1,172,887 | 3,082,669 | 2,101,789 | 1,863,697 | 621,884 | 15,255,591 | ||||||||||||||||||||||||||||||||||
Interest-bearing liabilities: (2) | |||||||||||||||||||||||||||||||||||||||||
Regular savings | 272,979 | 175,140 | 582,937 | 432,955 | 660,351 | 649,633 | 2,773,995 | ||||||||||||||||||||||||||||||||||
Interest checking accounts | 178,653 | 72,695 | 254,751 | 208,930 | 382,201 | 702,427 | 1,799,657 | ||||||||||||||||||||||||||||||||||
Money market deposit accounts | 272,734 | 141,936 | 473,504 | 354,977 | 551,040 | 544,915 | 2,339,106 | ||||||||||||||||||||||||||||||||||
Certificates of deposit | 387,542 | 257,369 | 183,333 | 21,305 | 1,508 | — | 851,057 | ||||||||||||||||||||||||||||||||||
FHLB advances | 50,000 | — | — | — | — | — | 50,000 | ||||||||||||||||||||||||||||||||||
Subordinated notes | — | — | — | 100,000 | — | — | 100,000 | ||||||||||||||||||||||||||||||||||
Junior subordinated debentures | 147,944 | — | — | — | — | — | 147,944 | ||||||||||||||||||||||||||||||||||
Retail repurchase agreements | 247,358 | — | — | — | — | — | 247,358 | ||||||||||||||||||||||||||||||||||
Total rate sensitive liabilities | 1,557,210 | 647,140 | 1,494,525 | 1,118,167 | 1,595,100 | 1,896,975 | 8,309,117 | ||||||||||||||||||||||||||||||||||
Excess (deficiency) of interest-sensitive assets over interest-sensitive liabilities | $ | 4,855,455 | $ | 525,747 | $ | 1,588,144 | $ | 983,622 | $ | 268,597 | $ | (1,275,091) | $ | 6,946,474 | |||||||||||||||||||||||||||
Cumulative excess of interest-sensitive assets | $ | 4,855,455 | $ | 5,381,202 | $ | 6,969,346 | $ | 7,952,968 | $ | 8,221,565 | $ | 6,946,474 | $ | 6,946,474 | |||||||||||||||||||||||||||
Cumulative ratio of interest-earning assets to interest-bearing liabilities | 411.80 | % | 344.12 | % | 288.42 | % | 265.10 | % | 228.22 | % | 183.60 | % | 183.60 | % | |||||||||||||||||||||||||||
Interest sensitivity gap to total assets | 29.18 | 3.16 | 9.55 | 5.91 | 1.61 | (7.66) | 41.75 | ||||||||||||||||||||||||||||||||||
Ratio of cumulative gap to total assets | 29.18 | 32.34 | 41.89 | 47.80 | 49.41 | 41.75 | 41.75 |
Period | Total Number of Common Shares Purchased | Average Price Paid per Common Share | Total Number of Shares Purchased as Part of Publicly Announced authorization | Maximum Number of Remaining Shares that May be Purchased as Part of Publicly Announced Authorization | ||||||||||||||||||||||
July 1, 2021 - July 31, 2021 | 407 | $ | 52.53 | — | 1,007,781 | |||||||||||||||||||||
August 1, 2021 - August 31, 2021 | 300,000 | 55.50 | 300,000 | 707,781 | ||||||||||||||||||||||
September 1, 2021 - September 30, 2021 | — | — | — | 707,781 | ||||||||||||||||||||||
Total for quarter | 300,407 | 55.49 | 300,000 | 707,781 |
Exhibit | Index of Exhibits | ||||
3{a} | |||||
3{b} | |||||
3{c} | |||||
3{d} | |||||
10{a} | |||||
10{b} | |||||
10{c} | |||||
10{d} | |||||
10{e} | |||||
10{f} | |||||
10{g} | |||||
10{h} | |||||
10{i} | |||||
10{j} | |||||
31.1 | |||||
31.2 | |||||
32 | |||||
101.INS | Inline XBRL Instance Document - The instance document does not appear in the interactive data file because its XBRL tags are embedded within the XBRL document | ||||
Exhibit | Index of Exhibits | ||||
101.SCH | Inline XBRL Taxonomy Extension Schema Document | ||||
101.CAL | Inline XBRL Taxonomy Extension Calculation Linkbase Document | ||||
101.DEF | Inline XBRL Taxonomy Extension Definition Linkbase Document | ||||
101.LAB | Inline XBRL Taxonomy Extension Label Linkbase Document | ||||
101.PRE | Inline XBRL Taxonomy Extension Presentation Linkbase Document | ||||
104 | The cover page from the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2021, formatted in Inline XBRL (included in Exhibit 101) |
Banner Corporation | ||||||||
November 4, 2021 | /s/ Mark J. Grescovich | |||||||
Mark J. Grescovich | ||||||||
President and Chief Executive Officer (Principal Executive Officer) | ||||||||
November 4, 2021 | /s/ Peter J. Conner | |||||||
Peter J. Conner | ||||||||
Executive Vice President, Treasurer and Chief Financial Officer (Principal Financial and Accounting Officer) |
Level | Applicable Severance Multiplier | Applicable CIC Multiplier | ||||||
Direct Reports of CEO | 1x Base Salary | 2x Base Salary and 2x Annual Cash Incentive | ||||||
Executive Officer Level 1 (reports to an Executive) | 1x Base Salary | 1x Base Salary and 1x Annual Cash Incentive | ||||||
November 4, 2021 | /s/Mark J. Grescovich | |||||||
Mark J. Grescovich | ||||||||
Chief Executive Officer |
November 4, 2021 | /s/ Peter J. Conner | |||||||
Peter J. Conner | ||||||||
Chief Financial Officer |
November 4, 2021 | /s/ Mark J. Grescovich | |||||||
Mark J. Grescovich | ||||||||
Chief Executive Officer | ||||||||
November 4, 2021 | /s/ Peter J. Conner | |||||||
Peter J. Conner | ||||||||
Chief Financial Officer |
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Parenthetical) - USD ($) $ in Thousands |
Sep. 30, 2021 |
Dec. 31, 2020 |
---|---|---|
ASSETS | ||
Debt Securities, Available-for-sale, Amortized Cost | $ 3,443,516 | $ 2,256,189 |
Allowance for Credit Losses | (104) | 94 |
Securities—held-to-maturity, fair value | $ 466,002 | $ 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 |
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 | 34,251,991 | 35,159,200 |
Common Stock, Shares, Outstanding | 34,251,991 | 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 |
Loans [Member] | Recurring [Member] | ||
ASSETS | ||
Loans Held-for-sale, Fair Value Disclosure | $ 41,480 | $ 133,554 |
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands |
3 Months Ended | 9 Months Ended | ||
---|---|---|---|---|
Sep. 30, 2021 |
Sep. 30, 2020 |
Sep. 30, 2021 |
Sep. 30, 2020 |
|
INTEREST INCOME: | ||||
Loans receivable | $ 116,487 | $ 116,716 | $ 340,802 | $ 350,815 |
Mortgage-backed securities | 11,695 | 7,234 | 32,503 | 24,354 |
Securities and cash equivalents | 7,686 | 5,631 | 20,649 | 14,824 |
Total interest income | 135,868 | 129,581 | 393,954 | 389,993 |
INTEREST EXPENSE: | ||||
Deposits | 2,749 | 5,179 | 9,386 | 20,623 |
FHLB advances | 655 | 988 | 2,244 | 4,036 |
Other borrowings | 125 | 128 | 358 | 482 |
Subordinated debt | 2,193 | 2,260 | 6,605 | 4,988 |
Total interest expense | 5,722 | 8,555 | 18,593 | 30,129 |
Net interest income | 130,146 | 121,026 | 375,361 | 359,864 |
(RECAPTURE)/PROVISION FOR CREDIT LOSSES | (8,638) | 15,180 | (28,145) | 67,273 |
Net interest income after (recapture)/provision for credit losses | 138,784 | 105,846 | 403,506 | 292,591 |
NON-INTEREST INCOME: | ||||
Deposit fees and other service charges | 10,457 | 8,742 | 29,154 | 26,091 |
Mortgage banking operations | 9,752 | 16,562 | 28,670 | 40,891 |
Bank-owned life insurance (BOLI) | 1,245 | 1,286 | 3,797 | 4,653 |
Miscellaneous | 2,046 | 951 | 7,808 | 5,017 |
Other operating income | 23,500 | 27,541 | 69,429 | 76,652 |
Net gain on sale of securities | 56 | 644 | 618 | 815 |
Net change in valuation of financial instruments carried at fair value | 1,778 | 37 | 1,895 | (2,360) |
Total non-interest income | 25,334 | 28,222 | 71,942 | 75,107 |
NON-INTEREST EXPENSE: | ||||
Salary and employee benefits | 59,799 | 61,171 | 186,553 | 184,494 |
Less capitalized loan origination costs | (8,290) | (8,517) | (26,754) | (25,433) |
Occupancy and equipment | 13,153 | 13,022 | 38,965 | 39,114 |
Information/computer data services | 6,110 | 6,090 | 17,915 | 17,984 |
Payment and card processing expenses | 6,181 | 4,044 | 15,482 | 12,135 |
Professional and legal expenses | 12,324 | 2,368 | 20,023 | 6,450 |
Advertising and marketing | 1,521 | 1,105 | 3,965 | 3,584 |
Deposit insurance expense | 1,469 | 1,628 | 4,243 | 4,968 |
State/municipal business and use taxes | 1,219 | 1,196 | 3,367 | 3,284 |
REO operations, net | 53 | (11) | (71) | 93 |
Amortization of core deposit intangibles | 1,575 | 1,864 | 4,997 | 5,867 |
Miscellaneous | 6,977 | 5,285 | 18,642 | 16,841 |
Noninterest Operating Expense, Before COVID-19 and Acquisition Related Costs | 102,091 | 89,245 | 287,327 | 269,381 |
COVID-19 Expenses | 44 | 778 | 309 | 3,169 |
Acquisition-related costs | 10 | 5 | 660 | 1,483 |
Total non-interest expense | 102,145 | 90,028 | 288,296 | 274,033 |
Income before provision for income taxes | 61,973 | 44,040 | 187,152 | 93,665 |
PROVISION FOR INCOME TAXES | 12,089 | 7,492 | 36,031 | 16,694 |
NET INCOME | $ 49,884 | $ 36,548 | $ 151,121 | $ 76,971 |
Earnings per common share: | ||||
Basic | $ 1.45 | $ 1.04 | $ 4.35 | $ 2.18 |
Diluted | 1.44 | 1.03 | 4.32 | 2.17 |
Cumulative dividends declared per common share | $ 0.41 | $ 0.41 | $ 1.23 | $ 0.82 |
Weighted average number of common shares outstanding, Basic | 34,446,510 | 35,193,109 | 34,716,914 | 35,285,567 |
Weighted average number of common shares outstanding, Diluted | 34,669,492 | 35,316,679 | 35,012,228 | 35,524,771 |
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands |
3 Months Ended | 9 Months Ended | ||
---|---|---|---|---|
Sep. 30, 2021 |
Sep. 30, 2020 |
Sep. 30, 2021 |
Sep. 30, 2020 |
|
Statement of Comprehensive Income [Abstract] | ||||
NET INCOME | $ 49,884 | $ 36,548 | $ 151,121 | $ 76,971 |
OTHER COMPREHENSIVE INCOME, NET OF INCOME TAXES: | ||||
Unrealized holding (loss) gain on available-for-sale securities arising during the period | (23,223) | (3,090) | (62,711) | 47,000 |
Income tax benefit (expense) related to available-for-sale securities unrealized holding (loss) gain | 5,574 | 742 | 15,051 | (11,280) |
Reclassification for net gain on available-for-sale securities realized in earnings | (118) | (125) | (634) | (296) |
Income tax expense related to available-for-sale securities realized in earnings | 28 | 30 | 152 | 71 |
Changes in fair value of junior subordinated debentures related to instrument specific credit risk | (7,333) | (208) | (7,879) | 9,483 |
Income tax benefit (expense) related to junior subordinated debentures | 1,760 | 50 | 1,891 | (2,276) |
Other comprehensive (loss) income | (23,312) | (2,601) | (54,130) | 42,702 |
COMPREHENSIVE INCOME | $ 26,572 | $ 33,947 | $ 96,991 | $ 119,673 |
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 | ||||
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] | |||||
Net income | 76,971 | ||||
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 | $ 0.82 | ||||
Balance, beginning of the period at Mar. 31, 2020 | $ 1,601,700 | 1,343,699 | 177,922 | 80,079 | |
Balance, beginning of the period (in shares) at Mar. 31, 2020 | 35,102,459 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
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 | ||||
Balance, beginning of the period at Dec. 31, 2020 | $ 1,666,264 | 1,349,879 | 247,316 | 69,069 | |
Balance, beginning of the period (in shares) at Dec. 31, 2020 | 35,159,200 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Net income | 151,121 | ||||
Balance, end of the period at Sep. 30, 2021 | $ 1,667,119 | 1,297,145 | 355,035 | 14,939 | |
Balance, end of the period (in shares) at Sep. 30, 2021 | 34,251,991 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Cumulative dividends declared per common share | $ 1.23 | ||||
Balance, beginning of the period at Mar. 31, 2021 | $ 1,618,817 | 1,326,269 | 279,582 | 12,966 | |
Balance, beginning of the period (in shares) at Mar. 31, 2021 | 34,735,343 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Net income | 54,382 | 54,382 | |||
Other comprehensive income, net of income tax | 25,285 | 25,285 | |||
Accrual of dividends on common stock | (14,459) | (14,459) | |||
Amortization of stock-based compensation related to restricted stock grants, net of shares surrendered | (259) | (259) | |||
Amortization of stock-based compensation related to restricted stock grants, net of shares surrendered (in shares) | 65,545 | ||||
Repurchase of common stock | (14,555) | (14,555) | |||
Repurchase of common stock (in shares) | (250,000) | ||||
Balance, end of the period at Jun. 30, 2021 | $ 1,669,211 | 1,311,455 | 319,505 | 38,251 | |
Balance, end of the period (in shares) at Jun. 30, 2021 | 34,550,888 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Cumulative dividends declared per common share | $ 0.41 | ||||
Net income | $ 49,884 | 49,884 | |||
Other comprehensive income, net of income tax | (23,312) | (23,312) | |||
Accrual of dividends on common stock | (14,354) | (14,354) | |||
Amortization of stock-based compensation related to restricted stock grants, net of shares surrendered | 2,339 | 2,339 | |||
Amortization of stock-based compensation related to restricted stock grants, net of shares surrendered (in shares) | 1,103 | ||||
Repurchase of common stock | (16,649) | (16,649) | |||
Repurchase of common stock (in shares) | (300,000) | ||||
Balance, end of the period at Sep. 30, 2021 | $ 1,667,119 | $ 1,297,145 | $ 355,035 | $ 14,939 | |
Balance, end of the period (in shares) at Sep. 30, 2021 | 34,251,991 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Cumulative dividends declared per common share | $ 0.41 |
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Parenthetical) - USD ($) $ in Thousands |
3 Months Ended | 9 Months Ended | ||||||||
---|---|---|---|---|---|---|---|---|---|---|
Sep. 30, 2021 |
Jun. 30, 2021 |
Mar. 31, 2021 |
Dec. 31, 2020 |
Sep. 30, 2020 |
Jun. 30, 2020 |
Mar. 31, 2020 |
Sep. 30, 2021 |
Sep. 30, 2020 |
Dec. 31, 2019 |
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Statement of Stockholders' Equity [Abstract] | ||||||||||
Cumulative dividends declared per common share | $ 0.41 | $ 0.41 | $ 0.41 | $ 0.41 | $ 0.41 | $ 0.41 | $ 1.23 | $ 0.82 | ||
New credit standard (ASC 326) - impact in year of adoption | $ (11,215) | |||||||||
NET INCOME | $ 49,884 | $ 54,382 | $ 46,855 | $ 38,957 | $ 36,548 | $ 23,541 | 16,882 | $ 151,121 | $ 76,971 | |
Other comprehensive income, net of income tax | (23,312) | 25,285 | (56,103) | (6,889) | (2,601) | (1,520) | 46,823 | |||
Accrual of dividends on common stock | (14,354) | (14,459) | (14,589) | (14,600) | (15,037) | (15) | (14,583) | |||
Amortization of stock-based compensation related to restricted stock grants, net of shares surrendered | 2,339 | (259) | 1,714 | 2,267 | 2,516 | 1,397 | 1,534 | |||
Repurchase of common stock | (16,649) | (14,555) | (25,324) | (31,775) | ||||||
Total shareholders’ equity | $ 1,667,119 | $ 1,669,211 | $ 1,618,817 | $ 1,666,264 | $ 1,646,529 | $ 1,625,103 | $ 1,601,700 | $ 1,667,119 | $ 1,646,529 | $ 1,594,034 |
Cumulative dividends declared per common share | $ 0.41 | $ 0.41 | $ 0.41 | $ 0.41 | $ 0.41 | $ 0.41 | $ 1.23 | $ 0.82 | ||
Common Stock [Member] | ||||||||||
Amortization of stock-based compensation related to restricted stock grants, net of shares surrendered (in shares) | 1,103 | 65,545 | 76,143 | 632 | 669 | 55,440 | (24,337) | |||
Stock Repurchased and Retired During Period, Shares | (300,000) | (250,000) | (500,000) | (624,780) | ||||||
Shares, Outstanding | 34,251,991 | 34,550,888 | 34,735,343 | 35,159,200 | 35,158,568 | 35,157,899 | 35,102,459 | 34,251,991 | 35,158,568 | 35,751,576 |
Common Stock and Paid in Capital [Member] | ||||||||||
Amortization of stock-based compensation related to restricted stock grants, net of shares surrendered | $ 2,339 | $ (259) | $ 1,714 | $ 2,267 | $ 2,516 | $ 1,397 | $ 1,534 | |||
Repurchase of common stock | (16,649) | (14,555) | (25,324) | (31,775) | ||||||
Total shareholders’ equity | 1,297,145 | 1,311,455 | 1,326,269 | 1,349,879 | 1,347,612 | 1,345,096 | 1,343,699 | $ 1,297,145 | $ 1,347,612 | $ 1,373,940 |
Retained Earnings [Member] | ||||||||||
New credit standard (ASC 326) - impact in year of adoption | (11,215) | |||||||||
NET INCOME | 49,884 | 54,382 | 46,855 | 38,957 | 36,548 | 23,541 | 16,882 | |||
Accrual of dividends on common stock | (14,354) | (14,459) | (14,589) | (14,600) | (15,037) | (15) | (14,583) | |||
Total shareholders’ equity | 355,035 | 319,505 | 279,582 | 247,316 | 222,959 | 201,448 | 177,922 | 355,035 | 222,959 | 186,838 |
Accumulated Other Comprehensive Income (Loss) [Member] | ||||||||||
Other comprehensive income, net of income tax | (23,312) | 25,285 | (56,103) | (6,889) | (2,601) | (1,520) | 46,823 | |||
Total shareholders’ equity | $ 14,939 | $ 38,251 | $ 12,966 | $ 69,069 | $ 75,958 | $ 78,559 | $ 80,079 | $ 14,939 | $ 75,958 | $ 33,256 |
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands |
9 Months Ended | |
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Sep. 30, 2021 |
Sep. 30, 2020 |
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OPERATING ACTIVITIES: | ||
Net income | $ 151,121 | $ 76,971 |
Adjustments to reconcile net income to net cash provided from operating activities: | ||
Depreciation | 13,071 | 13,677 |
Deferred income/expense and capitalized servicing rights, net of amortization | (34,389) | (8,503) |
Amortization of core deposit intangibles | 4,997 | 5,867 |
Gain on sale of securities, net | (618) | (815) |
Net change in valuation of financial instruments carried at fair value | (1,895) | 2,360 |
Dividend Income Reinvested, Equity Securities, Operating | 0 | (255) |
Increase in deferred taxes | 4,388 | 1,279 |
Increase in current taxes payable | 499 | 1,426 |
Stock-based compensation | 7,012 | 6,893 |
Net change in cash surrender value of BOLI | (3,482) | (3,721) |
Gain on sale of loans, excluding capitalized servicing rights | (22,623) | (34,951) |
(Gain) loss on disposal of real estate held for sale and property and equipment, net | (1,452) | 496 |
(Recapture) provision for credit losses | (28,145) | 67,273 |
Real Estate Owned, Valuation Allowance, Provision Increase (Decrease) | 0 | 18 |
Origination of loans held for sale | (912,467) | (1,032,523) |
Proceeds from sales of loans held for sale | 1,115,207 | 1,091,984 |
Net change in: | ||
Other assets | 23,630 | (51,796) |
Other liabilities | 23,645 | 5,040 |
Net cash provided from operating activities | 329,723 | 138,162 |
INVESTING ACTIVITIES: | ||
Payments to Acquire Debt Securities, Available-for-sale | 2,390,756 | 608,192 |
Principal repayments and maturities of securities—available-for-sale | 1,136,965 | 311,781 |
Available-for-sale Securities, Sale Proceeds | 59,591 | 128,939 |
Purchases of securities—held-to-maturity | (52,440) | (215,780) |
Principal repayments and maturities of securities—held-to-maturity | 23,842 | 20,691 |
Purchases of equity securities | (4,750) | (1,060,000) |
Proceeds from sales of equity securities | 4,796 | 610,519 |
Loan repayments (originations), net | 660,016 | (855,936) |
Purchases of loans and participating interest in loans | (4,258) | (18) |
Proceeds from sales of other loans | 38,386 | 8,454 |
Purchases of property and equipment | (6,355) | (9,936) |
Proceeds from sale of real estate held for sale and sale of other property | 8,299 | 2,869 |
Proceeds from FHLB stock repurchase program | 4,358 | 52,164 |
Purchase of FHLB stock | 0 | (40,185) |
Payments for Securities Purchased under Agreements to Resell | (300,000) | 0 |
Other | 2,343 | 3,913 |
Net cash used in investing activities | (819,963) | (1,650,717) |
FINANCING ACTIVITIES: | ||
Increase in deposits, net | 1,597,381 | 2,166,700 |
Repayment of long term FHLB advances | (100,000) | 0 |
Repayment of overnight and short term FHLB advances, net | 0 | (300,000) |
Increase in other borrowings, net | 62,572 | 58,508 |
Proceeds from Issuance of Subordinated Long-term Debt | 0 | 98,027 |
Cash dividends paid | (43,568) | (79,655) |
Taxes paid related to net share settlement of equity awards | 3,218 | 1,447 |
Cash paid for the repurchase of common stock | 56,528 | 31,775 |
Net cash provided from financing activities | 1,456,639 | 1,910,358 |
NET CHANGE IN CASH AND CASH EQUIVALENTS | 966,399 | 397,803 |
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | 1,234,183 | 307,735 |
CASH AND CASH EQUIVALENTS, END OF PERIOD | 2,200,582 | 705,538 |
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | ||
Interest paid in cash | 17,927 | 31,817 |
Tax paid (refunds received) | 20,081 | (27,515) |
NON-CASH INVESTING AND FINANCING TRANSACTIONS: | ||
Transfer of loans to real estate owned and other repossessed assets | 512 | 1,588 |
Dividends Payable | $ 1,191 | $ 1,179 |
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES |
9 Months Ended |
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Sep. 30, 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 September 30, 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 nine 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.
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ACCOUNTING STANDARDS RECENTLY ISSUED OR ADOPTED |
9 Months Ended |
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Sep. 30, 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.
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SECURITIES |
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Investments, Debt and Equity Securities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
SECURITIES | SECURITIES The amortized cost, gross unrealized gains and losses and estimated fair value of securities at September 30, 2021 and December 31, 2020 are summarized as follows (in thousands):
Accrued interest receivable on held-to-maturity debt securities was $2.7 million and $3.0 million as of September 30, 2021 and December 31, 2020, respectively, and was $9.3 million and $6.9 million on available-for-sale debt securities as of September 30, 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 September 30, 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):
At September 30, 2021, there were 84 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 September 30, 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 nine months ended September 30, 2021 or 2020. There were no securities—trading in a nonaccrual status at September 30, 2021 or December 31, 2020. Net unrealized holding gains of $1.9 million were recognized during the nine months ended September 30, 2021 compared to $2.4 million of net unrealized holding losses recognized during the nine months ended September 30, 2020. The following table presents gross gains and losses on sales of securities available-for-sale (in thousands):
There were no securities—available-for-sale in a nonaccrual status at September 30, 2021 or December 31, 2020. During the nine months ended September 30, 2021, we sold one held-to-maturity security with a resulting net gain of $3,000 and had partial calls of securities that resulted in a net loss of $65,000. There were no sales of securities—held-to-maturity during the nine months ended September 30, 2020. There were no securities—held-to-maturity in a nonaccrual status or 30 days or more past due at September 30, 2021 or December 31, 2020. During the nine months ended September 30, 2021, we sold a $4.8 million equity security with a resulting net gain of $46,000. There were no sales of equity securities during the nine months ended September 30, 2020. During the nine months ended September 30, 2020, the Company sold Visa Class B stock with a net gain of $519,000. The stock was previously carried at a zero-cost basis due to transfer restrictions and uncertainty of litigation. The amortized cost and estimated fair value of securities at September 30, 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.
The following table presents, as of September 30, 2021, investment securities which were pledged to secure borrowings, public deposits or other obligations as permitted or required by law (in thousands):
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 Company’s non-rated held-to-maturity debt securities are primarily United States government sponsored enterprise debentures carrying minimal to no credit risk. The balance is local municipal debt from within the Company’s geographic footprint and is monitored through quarterly or annual financial review. This municipal debt is predominately essential service or unlimited general obligation backed debt. The following table summarizes the amortized cost of held-to-maturity debt securities by credit rating at September 30, 2021 and December 31, 2020 (in thousands):
The following table presents the activity in the allowance for credit losses for held-to-maturity debt securities by major type for the three and nine months ended September 30, 2021 and September 30, 2020 (in thousands):
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LOANS RECEIVABLE AND THE ALLOWANCE FOR CREDIT LOSSES |
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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 September 30, 2021 and December 31, 2020 by class (dollars in thousands).
(1) Includes $307.0 million and $1.04 billion of U.S. Small Business Administration (SBA) Paycheck Protection Program (PPP) loans as of September 30, 2021 and December 31, 2020, respectively. (2) Includes $3.2 million of SBA PPP loans as of September 30, 2021 and none as of December 31, 2020. Loan amounts are net of unearned loan fees in excess of unamortized costs of $12.2 million as of September 30, 2021 and $25.6 million as of December 31, 2020. Net loans include net discounts on acquired loans of $11.5 million and $16.1 million as of September 30, 2021 and December 31, 2020, respectively. Net loans does not include accrued interest receivable. Accrued interest receivable on loans was $31.5 million as of September 30, 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 during the nine months ended September 30, 2021. Troubled Debt Restructurings. Loans are reported as troubled debt restructures (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 September 30, 2021 and December 31, 2020, the Company had TDRs of $5.6 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 nine months ended September 30, 2021. The following table presents new TDRs that occurred during the three and nine months ended September 30, 2020 (dollars in thousands):
There were no TDRs which incurred a payment default within twelve months of the restructure date during the three and nine-month periods ended September 30, 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 September 30, 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.
The following tables present the Company’s portfolio of non-risk-rated loans by class and delinquency status as of September 30, 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.
The following tables provide the amortized cost basis of collateral-dependent loans as of September 30, 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.
The following tables provide additional detail on the age analysis of the Company’s past due loans as of September 30, 2021 and December 31, 2020 (in thousands):
(1) The Company did not recognize any interest income on non-accrual loans during the three or nine months ended September 30, 2021 or the year ended December 31, 2020. The following tables provide the activity in the allowance for credit losses by portfolio segment for the three and nine months ended September 30, 2021 and 2020 (in thousands):
The changes in the allowance for credit losses - loans during the three and nine months ended September 30, 2021 were primarily the result of the $8.9 million recapture of provision for credit losses - loans recorded during the current quarter and the $25.0 million recapture of provision recorded during the nine months ended September 30, 2021. The change in allowance for credit losses - loans during the nine months ended September 30, 2021 was also impacted by net charge offs of $2.4 million recognized during the period. The recapture of provision for credit losses - loans for the current quarter and the nine months ended September 30, 2021 primarily reflects improvement in the forecasted economic indicators used to calculate the allowance for credit losses - loans and a decrease in adversely classified loans.
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GOODWILL, OTHER INTANGIBLE ASSETS AND MORTGAGE SERVICING RIGHTS |
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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 September 30, 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 nine months ended September 30, 2021 and the year ended December 31, 2020 (in thousands):
The following table presents the estimated amortization expense with respect to CDI as of September 30, 2021 for the periods indicated (in thousands):
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 and nine months ended September 30, 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 $2.68 billion and $2.64 billion at September 30, 2021 and December 31, 2020, respectively. Custodial accounts maintained in connection with this servicing totaled $3.1 million and $3.8 million at September 30, 2021 and December 31, 2020, respectively. An analysis of our mortgage servicing rights for the three and nine months ended September 30, 2021 and 2020 is presented below (in thousands):
(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 September 30, 2021 and 2020.
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REAL ESTATE OWNED, NET |
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Real Estate [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
REAL ESTATE OWNED, NET | REAL ESTATE OWNED, NET The following table presents the changes in REO for the three and nine months ended September 30, 2021 and 2020 (in thousands):
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DEPOSITS |
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DEPOSITS | DEPOSITS Deposits consisted of the following at September 30, 2021 and December 31, 2020 (in thousands):
(1) Certificates of deposit include $2,000 and $58,000 of acquisition discounts at September 30, 2021 and December 31, 2020, respectively. At September 30, 2021 and December 31, 2020, the Company had certificates of deposit of $191.5 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 September 30, 2021 are as follows (dollars in thousands):
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FAIR VALUE OF FINANCIAL INSTRUMENTS |
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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 September 30, 2021 and December 31, 2020, whether or not measured at fair value in the Consolidated Statements of Financial Condition (dollars in thousands):
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 September 30, 2021 and December 31, 2020 (in thousands):
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 September 30, 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 September 30, 2021 and December 31, 2020:
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 September 30, 2021, or the passage of time, will result in negative fair value adjustments. At September 30, 2021, the discount rate utilized was based on a credit spread of 350 basis points and three-month LIBOR of 13 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 and nine months ended September 30, 2021 and 2020 (in thousands):
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 September 30, 2021 and December 31, 2020 (in thousands):
The following table presents the losses resulting from non-recurring fair value adjustments for the three and nine months ended September 30, 2021 and 2020 (in thousands):
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.
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INCOME TAXES AND DEFERRED TAXES |
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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 September 30, 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 September 30, 2021 and December 31, 2020 (in thousands):
The following table presents other information related to the Company’s tax credit investments for the three and nine months ended September 30, 2021 and 2020 (in thousands):
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CALCULATION OF WEIGHTED AVERAGE SHARES OUTSTANDING FOR EARNINGS PER SHARE (EPS) |
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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 and nine months ended September 30, 2021 and 2020 (in thousands, except shares and per share data):
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STOCK-BASED COMPENSATION PLANS |
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Sep. 30, 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 September 30, 2021, 302,167 restricted stock shares and 406,689 restricted stock units have been granted under the 2014 Plan of which 2,152 restricted stock shares and 113,906 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 September 30, 2021, 481,361 restricted stock units have been granted under the 2018 Plan of which 394,416 restricted stock units are unvested. The expense associated with all restricted stock grants (including restricted stock shares and restricted stock units) was $2.4 million and $7.0 million for the three and nine month periods ended September 30, 2021 and was $2.5 million and $6.9 million for the three and nine month periods ended September 30, 2020, respectively. Unrecognized compensation expense for these awards as of September 30, 2021 was $13.3 million and will be amortized over the next 31 months.
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COMMITMENTS AND CONTINGENCIES |
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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):
In addition to the commitments disclosed in the table above, the Company is committed to funding its’ unfunded tax credit investments (see Note 9, Income Taxes). During 2019, the Company entered into an agreement to invest $10 million in a limited partnership. The Company had funded $5.5 million of the commitment, with $4.5 million of the commitment remaining to be funded at September 30, 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 September 30, 2021 the Company had funded $555,000 of the commitment, with $3.9 million of the commitment remaining to be funded. During the third quarter of 2021, the Company entered into an agreement to invest $3.0 million in an additional limited partnership. At September 30, 2021 the Company had funded $900,000 of the commitment with $2.1 million of the commitment remaining to be funded. 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 September 30, 2021 and December 31, 2020 was $10.1 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 and nine months ended September 30, 2021 or September 30, 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 September 30, 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.
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DERIVATIVES AND HEDGING |
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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 September 30, 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):
(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 September 30, 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):
(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 $177,000 at September 30, 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 and nine months ended September 30, 2021 and 2020 were as follows (in thousands):
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 September 30, 2021 or December 31, 2020, it could have been required to settle its obligations under the agreements at the termination value. As of September 30, 2021 and December 31, 2020, the termination value of derivatives in a net liability position related to these agreements was $29.2 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 $50.8 million and $47.1 million as of September 30, 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 September 30, 2021 and December 31, 2020, the variation margin adjustment was a negative adjustment of $10.3 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 September 30, 2021 and December 31, 2020 (in thousands):
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REVENUE FROM CONTRACTS WITH CUSTOMERS |
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Revenue from Contract with Customer [Text Block] | REVENUE FROM CONTRACTS WITH CLIENTS Disaggregation of Revenue: Deposit fees and other service charges for the three and nine months ended September 30, 2021 and 2020 are summarized as follows (in thousands):
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.
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BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Policies) |
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Sep. 30, 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 September 30, 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 nine 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.
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SECURITIES (Tables) |
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Sep. 30, 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 September 30, 2021 and December 31, 2020 are summarized as follows (in thousands):
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Schedule of Securities with Continuous Loss Position | At September 30, 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):
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Schedule of Realized Gain (Loss) | The following table presents gross gains and losses on sales of securities available-for-sale (in thousands):
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Schedule of Securities by Contractual Maturity Date | The amortized cost and estimated fair value of securities at September 30, 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.
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Schedule of Pledged Securities | The following table presents, as of September 30, 2021, investment securities which were pledged to secure borrowings, public deposits or other obligations as permitted or required by law (in thousands):
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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 Company’s non-rated held-to-maturity debt securities are primarily United States government sponsored enterprise debentures carrying minimal to no credit risk. The balance is local municipal debt from within the Company’s geographic footprint and is monitored through quarterly or annual financial review. This municipal debt is predominately essential service or unlimited general obligation backed debt. The following table summarizes the amortized cost of held-to-maturity debt securities by credit rating at September 30, 2021 and December 31, 2020 (in thousands):
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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 and nine months ended September 30, 2021 and September 30, 2020 (in thousands):
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LOANS RECEIVABLE AND THE ALLOWANCE FOR CREDIT LOSSES (Tables) |
3 Months Ended | 9 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2021 |
Sep. 30, 2021 |
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Receivables [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Loans Receivable, Including Loans Held for Sale | at September 30, 2021 and December 31, 2020 by class (dollars in thousands).
(1) Includes $307.0 million and $1.04 billion of U.S. Small Business Administration (SBA) Paycheck Protection Program (PPP) loans as of September 30, 2021 and December 31, 2020, respectively. (2) Includes $3.2 million of SBA PPP loans as of September 30, 2021 and none as of December 31, 2020. Loan amounts are net of unearned loan fees in excess of unamortized costs of $12.2 million as of September 30, 2021 and $25.6 million as of December 31, 2020. Net loans include net discounts on acquired loans of $11.5 million and $16.1 million as of September 30, 2021 and December 31, 2020, respectively.
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Schedule of Troubled Debt Restructurings | The following table presents new TDRs that occurred during the three and nine months ended September 30, 2020 (dollars in thousands):
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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 September 30, 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.
The following tables present the Company’s portfolio of non-risk-rated loans by class and delinquency status as of September 30, 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.
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Loans, Collateral Dependent [Table Text Block] | The following tables provide the amortized cost basis of collateral-dependent loans as of September 30, 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.
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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 September 30, 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.
The following tables provide additional detail on the age analysis of the Company’s past due loans as of September 30, 2021 and December 31, 2020 (in thousands):
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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 and nine months ended September 30, 2021 and 2020 (in thousands):
The changes in the allowance for credit losses - loans during the three and nine months ended September 30, 2021 were primarily the result of the $8.9 million recapture of provision for credit losses - loans recorded during the current quarter and the $25.0 million recapture of provision recorded during the nine months ended September 30, 2021. The change in allowance for credit losses - loans during the nine months ended September 30, 2021 was also impacted by net charge offs of $2.4 million recognized during the period. The recapture of provision for credit losses - loans for the current quarter and the nine months ended September 30, 2021 primarily reflects improvement in the forecasted economic indicators used to calculate the allowance for credit losses - loans and a decrease in adversely classified loans.
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GOODWILL, OTHER INTANGIBLE ASSETS AND MORTGAGE SERVICING RIGHTS (Tables) |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 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 nine months ended September 30, 2021 and the year ended December 31, 2020 (in thousands):
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Schedule of Estimated Annual Amortization Expense | The following table presents the estimated amortization expense with respect to CDI as of September 30, 2021 for the periods indicated (in thousands):
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Schedule of Servicing Assets at Amortized Value | An analysis of our mortgage servicing rights for the three and nine months ended September 30, 2021 and 2020 is presented below (in thousands):
(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 September 30, 2021 and 2020.
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REAL ESTATE OWNED, NET (Tables) |
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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 and nine months ended September 30, 2021 and 2020 (in thousands):
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DEPOSITS (Tables) |
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Banking and Thrift, Other Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Deposit Liabilities | Deposits consisted of the following at September 30, 2021 and December 31, 2020 (in thousands):
(1) Certificates of deposit include $2,000 and $58,000 of acquisition discounts at September 30, 2021 and December 31, 2020, respectively.
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Maturities of Certificates of Deposit | Scheduled maturities and weighted average interest rates of certificates of deposit at September 30, 2021 are as follows (dollars in thousands):
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FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables) |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 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 September 30, 2021 and December 31, 2020, whether or not measured at fair value in the Consolidated Statements of Financial Condition (dollars in thousands):
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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 September 30, 2021 and December 31, 2020 (in thousands):
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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 September 30, 2021 and December 31, 2020:
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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 and nine months ended September 30, 2021 and 2020 (in thousands):
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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 September 30, 2021 and December 31, 2020 (in thousands):
The following table presents the losses resulting from non-recurring fair value adjustments for the three and nine months ended September 30, 2021 and 2020 (in thousands):
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INCOME TAXES AND DEFERRED TAXES INCOME TAXES AND DEFERRED TAXES (Tables) |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 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 September 30, 2021 and December 31, 2020 (in thousands):
The following table presents other information related to the Company’s tax credit investments for the three and nine months ended September 30, 2021 and 2020 (in thousands):
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CALCULATION OF WEIGHTED AVERAGE SHARES OUTSTANDING FOR EARNINGS PER SHARE (EPS) (Tables) |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 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 and nine months ended September 30, 2021 and 2020 (in thousands, except shares and per share data):
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COMMITMENTS AND CONTINGENCIES (Tables) |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 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):
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DERIVATIVES AND HEDGING (Tables) |
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Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Derivatives Designated in Hedge Relationships | As of September 30, 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):
(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.
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Schedule of Derivatives Not Designated in Hedge Relationships | As of September 30, 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):
(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 $177,000 at September 30, 2021 and $231,000 at December 31, 2020), which are included in Loans receivable. (2)Included in Accrued expenses and other liabilities on the Consolidated Statements of Financial Condition. Gains (losses) recognized in income on derivatives not designated in hedge relationships for the three and nine months ended September 30, 2021 and 2020 were as follows (in thousands):
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Offsetting Assets and Liabilities | as of September 30, 2021 and December 31, 2020 (in thousands):
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REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables) |
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Revenue from Contract with Customer [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disaggregation of Revenue [Table Text Block] | Deposit fees and other service charges for the three and nine months ended September 30, 2021 and 2020 are summarized as follows (in thousands):
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SECURITIES (Schedule of Securities) (Details) - USD ($) |
Sep. 30, 2021 |
Jun. 30, 2021 |
Dec. 31, 2020 |
Sep. 30, 2020 |
Jun. 30, 2020 |
Dec. 31, 2019 |
---|---|---|---|---|---|---|
Schedule of Securities [Line Items] | ||||||
Debt Securities, Trading, Amortized Cost | $ 27,203,000 | $ 27,203,000 | ||||
Securities—trading | 26,875,000 | 24,980,000 | ||||
Debt Securities, Available-for-sale, Amortized Cost, Total | 3,443,516,000 | 2,256,189,000 | ||||
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 45,393,000 | 68,543,000 | ||||
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | 42,334,000 | 2,139,000 | ||||
Debt Securities, Available-for-sale | 3,446,575,000 | 2,322,593,000 | ||||
Held-to-maturity Securities, Amortized Cost | 447,812,000 | 421,807,000 | ||||
Held-to-maturity Securities, Gross Unrealized Gains | 20,390,000 | 26,980,000 | ||||
Held-to-maturity Securities, Gross Unrealized Losses | 2,200,000 | 106,000 | ||||
Securities—held-to-maturity | 466,002,000 | 448,681,000 | ||||
Debt Securities, Held-to-maturity, Allowance for Credit Loss | 104,000 | (94,000) | ||||
debt securities, held-to-maturity, accrued interest receivable | 2,700,000 | 3,000,000 | ||||
Debt Securities, Available-for-Sale, Accrued Interest Receivable | 9,300,000 | 6,900,000 | ||||
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 0 | 0 | ||||
U.S. Government and agency obligations | ||||||
Schedule of Securities [Line Items] | ||||||
Debt Securities, Available-for-sale, Amortized Cost, Total | 180,585,000 | 141,668,000 | ||||
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 1,067,000 | 1,002,000 | ||||
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | 600,000 | 935,000 | ||||
Debt Securities, Available-for-sale | 181,052,000 | 141,735,000 | ||||
Held-to-maturity Securities, Amortized Cost | 317,000 | 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 | 323,000 | 347,000 | ||||
Debt Securities, Held-to-maturity, Allowance for Credit Loss | 0 | $ 0 | 0 | $ 0 | $ 0 | $ 0 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 0 | 0 | ||||
Municipal bonds | ||||||
Schedule of Securities [Line Items] | ||||||
Debt Securities, Available-for-sale, Amortized Cost, Total | 296,784,000 | 283,997,000 | ||||
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 14,395,000 | 19,523,000 | ||||
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | 788,000 | 2,000 | ||||
Debt Securities, Available-for-sale | 310,391,000 | 303,518,000 | ||||
Held-to-maturity Securities, Amortized Cost | 391,583,000 | 370,998,000 | ||||
Held-to-maturity Securities, Gross Unrealized Gains | 18,716,000 | 24,130,000 | ||||
Held-to-maturity Securities, Gross Unrealized Losses | 2,188,000 | 94,000 | ||||
Securities—held-to-maturity | 408,111,000 | 395,034,000 | ||||
Debt Securities, Held-to-maturity, Allowance for Credit Loss | 63,000 | 64,000 | 59,000 | 60,000 | 61,000 | 0 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 0 | 0 | ||||
Corporate bonds | ||||||
Schedule of Securities [Line Items] | ||||||
Debt Securities, Trading, Amortized Cost | 27,203,000 | 27,203,000 | ||||
Securities—trading | 26,875,000 | 24,980,000 | ||||
Debt Securities, Available-for-sale, Amortized Cost, Total | 160,404,000 | 219,086,000 | ||||
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 3,903,000 | 2,762,000 | ||||
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | 63,000 | 79,000 | ||||
Debt Securities, Available-for-sale | 164,244,000 | 221,769,000 | ||||
Held-to-maturity Securities, Amortized Cost | 3,124,000 | 3,222,000 | ||||
Held-to-maturity Securities, Gross Unrealized Gains | 0 | 0 | ||||
Held-to-maturity Securities, Gross Unrealized Losses | 2,000 | 12,000 | ||||
Securities—held-to-maturity | 3,122,000 | 3,210,000 | ||||
Debt Securities, Held-to-maturity, Allowance for Credit Loss | 41,000 | 46,000 | 35,000 | 42,000 | 41,000 | 0 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 0 | 0 | ||||
Mortgage-backed or related securities | ||||||
Schedule of Securities [Line Items] | ||||||
Debt Securities, Available-for-sale, Amortized Cost, Total | 2,599,229,000 | 1,602,033,000 | ||||
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 25,918,000 | 45,179,000 | ||||
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | 40,883,000 | 1,060,000 | ||||
Debt Securities, Available-for-sale | 2,584,264,000 | 1,646,152,000 | ||||
Held-to-maturity Securities, Amortized Cost | 52,788,000 | 47,247,000 | ||||
Held-to-maturity Securities, Gross Unrealized Gains | 1,668,000 | 2,843,000 | ||||
Held-to-maturity Securities, Gross Unrealized Losses | 10,000 | 0 | ||||
Securities—held-to-maturity | 54,446,000 | 50,090,000 | ||||
Debt Securities, Held-to-maturity, Allowance for Credit Loss | 0 | $ 0 | 0 | $ 0 | $ 0 | $ 0 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 0 | 0 | ||||
Asset-backed securities | ||||||
Schedule of Securities [Line Items] | ||||||
Debt Securities, Available-for-sale, Amortized Cost, Total | 206,514,000 | 9,405,000 | ||||
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 110,000 | 77,000 | ||||
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | 0 | 63,000 | ||||
Debt Securities, Available-for-sale | 206,624,000 | 9,419,000 | ||||
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | $ 0 | $ 0 |
SECURITIES (Securities with Continuous Loss Position) (Details) $ in Thousands |
Sep. 30, 2021
USD ($)
numberOfSecurities
|
Dec. 31, 2020
USD ($)
numberOfSecurities
|
---|---|---|
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | $ 1,611,688 | $ 189,078 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 88,017 | 58,616 |
Debt Securities, Available-for-sale, Unrealized Loss Position | 1,699,705 | 247,694 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 40,591 | 1,135 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 1,743 | 1,004 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | $ 42,334 | $ 2,139 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | numberOfSecurities | 84 | 54 |
U.S. Government and agency obligations | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | $ 40,115 | $ 3,126 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 33,447 | 50,603 |
Debt Securities, Available-for-sale, Unrealized Loss Position | 73,562 | 53,729 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 39 | 8 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 561 | 927 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | 600 | 935 |
Municipal bonds | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 60,522 | 495 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 0 | 0 |
Debt Securities, Available-for-sale, Unrealized Loss Position | 60,522 | 495 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 788 | 2 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | 0 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | 788 | 2 |
Corporate bonds | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 7,937 | 3,586 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 0 | 0 |
Debt Securities, Available-for-sale, Unrealized Loss Position | 7,937 | 3,586 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 63 | 79 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | 0 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | 63 | 79 |
Mortgage-backed or related securities | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 1,503,114 | 181,871 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 54,570 | 2,337 |
Debt Securities, Available-for-sale, Unrealized Loss Position | 1,557,684 | 184,208 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 39,701 | 1,046 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 1,182 | 14 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | $ 40,883 | 1,060 |
Asset-backed securities | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 0 | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 5,676 | |
Debt Securities, Available-for-sale, Unrealized Loss Position | 5,676 | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 63 | |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | $ 63 |
SECURITIES (Available-for-Sale Securities, Gross Gains and Losses on Sale) (Details) - USD ($) $ in Thousands |
3 Months Ended | 9 Months Ended | ||
---|---|---|---|---|
Sep. 30, 2021 |
Sep. 30, 2020 |
Sep. 30, 2021 |
Sep. 30, 2020 |
|
Gain (Loss) on Securities [Line Items] | ||||
Debt Securities, Available-for-sale, Realized Gain | $ 140 | $ 557 | $ 766 | $ 729 |
Debt Securities, Available-for-sale, Realized Loss | 22 | 432 | 132 | 433 |
Debt Securities, Available-for-sale, Realized Gain (Loss) | $ 118 | $ 125 | $ 634 | $ 296 |
SECURITIES (Securities Debt Maturities) (Details) - USD ($) $ in Thousands |
Sep. 30, 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 | |
Debt Securities, Trading, 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 | 26,875 | |
Trading Securities, Fair Value, Maturing after twenty years | 0 | |
Trading Securities, Fair Value | 26,875 | 24,980 |
Available-for-sale Securities, Amortized Cost, Maturing in one year or less | 59,150 | |
Available-for-sale Securities, Amortized Cost, Maturing after one year through five years | 173,666 | |
Available-for-sale Securities, Amortized Cost, Maturing after five years through ten years | 845,638 | |
Available-for-sale Securities, Amortized Cost, Maturing after ten years through twenty years | 502,832 | |
Available-for-sale Securities, Amortized Cost, Maturing after twenty years | 1,862,230 | |
Debt Securities, Available-for-sale, Amortized Cost, Total | 3,443,516 | 2,256,189 |
Available-for-sale Securities, Fair Value, Maturing in one year or less | 59,360 | |
Available-for-sale Securities, Fair Value, Maturing after one year through five years | 181,152 | |
Available-for-sale Securities, Fair Value, Maturing after five years through ten years | 847,708 | |
Available-for-sale Securities, Fair Value, Maturing after ten years through twenty years | 514,271 | |
Available-for-sale Securities, Fair Value, Maturing after twenty years | 1,844,084 | |
Debt Securities, Available-for-sale | 3,446,575 | 2,322,593 |
Held-to-maturity Securities, Amortized Cost, Maturing in one year or less | 5,444 | |
Held-to-maturity Securities, Amortized Cost, Maturing after one year through five years | 59,705 | |
Held-to-maturity Securities, Amortized Cost, Maturing after five years through ten years | 21,961 | |
Held-to-maturity Securities, Amortized Cost, Maturing after ten years through twenty years | 164,303 | |
Held-to-maturity Securities, Amortized Cost, Maturing after twenty years | 196,399 | |
Held-to-maturity Securities, Amortized Cost | 447,812 | 421,807 |
Held-to-maturity Securities, Fair Value, Maturing in one year or less | 5,471 | |
Held-to-maturity Securities, Fair Value, Maturing after one year through five years | 62,039 | |
Held-to-maturity Securities, Fair Value, Maturing after five years through ten years | 23,312 | |
Held-to-maturity Securities, Fair Value, Maturing after ten years through twenty years | 168,315 | |
Held-to-maturity Securities, Fair Value, Maturing after twenty years | 206,865 | |
Debt Securities, Held-to-maturity, Fair Value | $ 466,002 | $ 448,681 |
SECURITIES (Securities Pledged) (Details) $ in Thousands |
Sep. 30, 2021
USD ($)
|
---|---|
Pledged Financial Instruments, Not Separately Reported, Securities [Abstract] | |
Securities pledged for State and Local Government Public Deposits, Carrying Value | $ 202,085 |
Securities pledged for Interest Rate Swap Counterparties, Carrying Value | 27,275 |
Securities pledged for Repurchase Agreements, Carrying Value | 278,087 |
Pledged Financial Instruments, Not Separately Reported, Interest-bearing Deposits for Other Debt Facilities | 2,549 |
Total pledged securities, Carrying Value | 509,996 |
Securities pledged for State and Local Government public deposits, Amortized Cost | 201,456 |
Securities pledged for Interest Rate Swap Counterparties, Amortized Cost | 26,642 |
Securities pledged for Repurchase Agreements, Amortized Cost | 285,068 |
Pledged Financial Instruments, Not Separately Reported, Interest-bearing Deposits for Other Debt Facilities, Amortized Cost | 2,549 |
Total pledged securities, Amortized Cost | 515,715 |
Securities pledged for State and Local Government Public Deposits, Fair Value | 213,687 |
Securities pledged for Interest Rate Swap Counterparties, Fair Value | 27,402 |
Securities pledged for Retail Repurchase Agreements, Fair Value | 278,087 |
Pledged Financial Instruments, Not Separately Reported, Interest-bearing Deposits for Other Debt Facilities, Fair Value | 2,597 |
Total pledged securities, Fair Value | $ 521,773 |
SECURITIES (Textual) (Details) |
9 Months Ended | ||
---|---|---|---|
Sep. 30, 2021
USD ($)
numberOfSecurities
numberOfSalesOfSecurities
|
Sep. 30, 2020
USD ($)
numberOfSalesOfSecurities
numberOfSecurities
|
Dec. 31, 2020
numberOfSecurities
|
|
Investments, Debt and Equity Securities [Abstract] | |||
Trading Securities, Number of Securities on Nonaccrual Status | 0 | 0 | |
Debt Securities, Available-for-sale [Abstract] | |||
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 84 | 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 | 1 | 1 | |
Held-to-maturity Securities, Number of Securities in Nonaccrual Status | 0 | 0 | |
Trading Securities, Number of Securities Sold | 0 | 0 | |
Debt Securities, Trading, Unrealized Gain | $ | $ 1,900,000 | ||
Debt Securities, Trading, Unrealized Loss | $ | $ 2,400,000 | ||
Proceeds from Sale of Equity Securities, FV-NI | $ | 4,800,000 | ||
Equity Securities, FV-NI, Realized Gain (Loss) | $ | $ 46,000 |
SECURITIES (Debt Securities, Held-to-Maturity, Credit Rating) (Details) - USD ($) $ in Thousands |
Sep. 30, 2021 |
Dec. 31, 2020 |
---|---|---|
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Debt securities, held-to-maturity | $ 447,812 | $ 421,807 |
U.S. Government and agency obligations | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Debt securities, held-to-maturity | 317 | 340 |
Municipal bonds | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Debt securities, held-to-maturity | 391,583 | 370,998 |
Corporate bonds | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Debt securities, held-to-maturity | 3,124 | 3,222 |
Mortgage-backed or related securities | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Debt securities, held-to-maturity | 52,788 | 47,247 |
Standard & Poor's, AAA to A Rating | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Debt securities, held-to-maturity | 376,365 | 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 | 375,865 | 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 | 71,447 | 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 | 317 | 340 |
Standard & Poor's, Not Rated | Municipal bonds | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Debt securities, held-to-maturity | 15,718 | 21,875 |
Standard & Poor's, Not Rated | Corporate bonds | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Debt securities, held-to-maturity | 2,624 | 2,722 |
Standard & Poor's, Not Rated | Mortgage-backed or related securities | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Debt securities, held-to-maturity | $ 52,788 | $ 47,247 |
SECURITIES (Debt Securities, Held-to-Maturity, Allowance for Credit Loss) (Details) - USD ($) $ in Thousands |
3 Months Ended | 9 Months Ended | |||
---|---|---|---|---|---|
Sep. 30, 2021 |
Sep. 30, 2020 |
Mar. 31, 2020 |
Sep. 30, 2021 |
Sep. 30, 2020 |
|
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Roll Forward] | |||||
Beginning Balance | $ (94) | ||||
Debt Securities, Held-to-maturity, Allowance for Credit Loss | $ 104 | 104 | |||
New credit standard (ASC 326) - impact in year of adoption | $ 11,215 | ||||
Ending Balance | 104 | 104 | |||
U.S. Government and agency obligations | |||||
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Roll Forward] | |||||
Beginning Balance | 0 | $ 0 | 0 | 0 | $ 0 |
Debt Securities, Held-to-maturity, Allowance for Credit Loss | 0 | 0 | 0 | 0 | |
New credit standard (ASC 326) - impact in year of adoption | 0 | 0 | |||
Recapture of provision for credit losses | 0 | 0 | 0 | 0 | |
Ending Balance | 0 | 0 | 0 | 0 | |
Municipal bonds | |||||
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Roll Forward] | |||||
Beginning Balance | 64 | 61 | 0 | 59 | 0 |
Debt Securities, Held-to-maturity, Allowance for Credit Loss | 63 | 60 | 63 | 60 | |
New credit standard (ASC 326) - impact in year of adoption | 0 | 28 | |||
Recapture of provision for credit losses | (1) | (1) | 4 | 32 | |
Ending Balance | 63 | 60 | 63 | 60 | |
Corporate bonds | |||||
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Roll Forward] | |||||
Beginning Balance | 46 | 41 | 0 | 35 | 0 |
Debt Securities, Held-to-maturity, Allowance for Credit Loss | 41 | 42 | 41 | 42 | |
New credit standard (ASC 326) - impact in year of adoption | 0 | 35 | |||
Recapture of provision for credit losses | (5) | 1 | 6 | 7 | |
Ending Balance | 41 | 42 | 41 | 42 | |
Mortgage-backed or related securities | |||||
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Roll Forward] | |||||
Beginning Balance | 0 | 0 | 0 | 0 | 0 |
Debt Securities, Held-to-maturity, Allowance for Credit Loss | 0 | 0 | 0 | 0 | |
New credit standard (ASC 326) - impact in year of adoption | 0 | 0 | |||
Recapture of provision for credit losses | 0 | 0 | 0 | 0 | |
Ending Balance | 0 | 0 | 0 | 0 | |
Held-to-maturity Securities | |||||
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Roll Forward] | |||||
Beginning Balance | (110) | 102 | $ 0 | 94 | 0 |
Debt Securities, Held-to-maturity, Allowance for Credit Loss | 104 | 102 | 104 | 102 | |
New credit standard (ASC 326) - impact in year of adoption | 0 | 63 | |||
Recapture of provision for credit losses | (6) | 0 | 10 | 39 | |
Ending Balance | $ 104 | $ 102 | $ 104 | $ 102 |
LOANS RECEIVABLE AND THE ALLOWANCE FOR CREDIT LOSSES (Loans by Type) (Details) - USD ($) $ in Thousands |
Sep. 30, 2021 |
Jun. 30, 2021 |
Dec. 31, 2020 |
Sep. 30, 2020 |
Jun. 30, 2020 |
Dec. 31, 2019 |
---|---|---|---|---|---|---|
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans receivable | $ 9,218,384 | $ 9,870,982 | ||||
Allowance for credit losses - loans | (139,915) | $ (148,009) | (167,279) | $ (167,965) | $ (156,352) | $ (100,559) |
Net loans | $ 9,078,469 | 9,703,703 | ||||
Percent of total loans | 100.00% | |||||
Unearned loan fees in excess of unamortized costs | $ 12,200 | 25,600 | ||||
Discount on acquired loans, net | 11,500 | 16,100 | ||||
Financing Receivable, Accrued Interest, before Allowance for Credit Loss | 31,500 | 36,600 | ||||
Financing Receivable, Troubled Debt Restructuring | 5,600 | 7,900 | ||||
Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans receivable | 9,870,982 | |||||
Allowance for credit losses - loans | (167,279) | |||||
Net loans | $ 9,703,703 | |||||
Percent of total loans | 100.00% | |||||
Commerical real estate - owner-occupied [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans receivable | $ 1,122,275 | $ 1,076,467 | ||||
Percent of total loans | 12.20% | |||||
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 | |||||
Percent of total loans | 10.90% | |||||
Commercial real estate - investment properties | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans receivable | $ 1,980,284 | $ 1,955,684 | ||||
Percent of total loans | 21.50% | |||||
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 | |||||
Percent of total loans | 19.80% | |||||
Small Balance Commercial Real Estate Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans receivable | $ 601,751 | |||||
Percent of total loans | 6.50% | |||||
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 | |||||
Percent of total loans | 5.80% | |||||
Multifamily Real Estate | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans receivable | $ 532,760 | $ 428,223 | ||||
Allowance for credit losses - loans | $ (6,657) | (5,807) | (3,893) | (3,256) | (3,504) | (4,754) |
Percent of total loans | 5.80% | |||||
Multifamily Real Estate | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans receivable | $ 428,223 | |||||
Percent of total loans | 4.40% | |||||
Commercial construction | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans receivable | $ 170,205 | $ 228,937 | ||||
Percent of total loans | 1.80% | |||||
Commercial construction | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans receivable | $ 228,937 | |||||
Percent of total loans | 2.30% | |||||
Multifamily construction | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans receivable | $ 278,184 | $ 305,527 | ||||
Percent of total loans | 3.00% | |||||
Multifamily construction | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans receivable | $ 305,527 | |||||
Percent of total loans | 3.10% | |||||
One- to four- family construction | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans receivable | $ 571,431 | $ 507,810 | ||||
Percent of total loans | 6.20% | |||||
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 | |||||
Percent of total loans | 5.10% | |||||
Land and Land Development Type [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans receivable | $ 308,164 | |||||
Percent of total loans | 3.40% | |||||
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 | |||||
Percent of total loans | 2.50% | |||||
Land and land development - residential [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans receivable | $ 308,164 | $ 248,915 | ||||
Commercial Business | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans receivable | 1,346,707 | 2,178,461 | ||||
Allowance for credit losses - loans | $ (26,873) | (30,830) | (35,007) | (35,369) | (33,870) | (23,370) |
Percent of total loans | 14.60% | |||||
Loans And LeasesReceivable Gross Carrying Amount, SBA Paycheck Protection Program | $ 307,000 | 1,040,000 | ||||
Commercial Business | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans receivable | $ 2,178,461 | |||||
Percent of total loans | 22.10% | |||||
Small business scored | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans receivable | $ 775,554 | $ 743,451 | ||||
Percent of total loans | 8.40% | |||||
Small business scored | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans receivable | $ 743,451 | |||||
Percent of total loans | 7.50% | |||||
Agricultural business, including secured by farmland | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans receivable | $ 287,469 | $ 299,949 | ||||
Allowance for credit losses - loans | $ (3,177) | (3,256) | (4,914) | (5,051) | (4,517) | (4,120) |
Percent of total loans | 3.10% | |||||
Loans And LeasesReceivable Gross Carrying Amount, SBA Paycheck Protection Program | $ 3,200 | 0 | ||||
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 | |||||
Percent of total loans | 3.00% | |||||
One- to four-family residential [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans receivable | 682,368 | $ 717,939 | ||||
Allowance for credit losses - loans | $ (9,460) | $ (9,800) | (9,913) | $ (12,868) | $ (12,746) | $ (4,136) |
Percent of total loans | 7.40% | |||||
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 | |||||
Percent of total loans | 7.30% | |||||
Consumer secured by one- to four-family [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans receivable | $ 462,819 | $ 491,812 | ||||
Percent of total loans | 5.00% | |||||
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 | |||||
Percent of total loans | 5.00% | |||||
Consumer-other | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans receivable | $ 98,413 | $ 113,958 | ||||
Percent of total loans | 1.10% | |||||
Consumer-other | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans receivable | $ 113,958 | |||||
Percent of total loans | 1.20% |
LOANS RECEIVABLE AND THE ALLOWANCE FOR CREDIT LOSSES (Troubled Debt Restructuring) (Details) $ in Thousands |
3 Months Ended | 9 Months Ended | ||
---|---|---|---|---|
Sep. 30, 2021
USD ($)
|
Sep. 30, 2020
USD ($)
contract
|
Sep. 30, 2021
USD ($)
|
Sep. 30, 2020
USD ($)
contract
|
|
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Commitments to advance funds related to TDRs, maximum additional amounts | $ 0 | $ 0 | ||
Number of Contracts | contract | 0 | 2 | ||
Pre-modification Outstanding Recorded Investment | $ 0 | $ 4,796 | ||
Post-modification Outstanding Recorded Investment | 0 | 4,796 | ||
TDRs Which Incurred a Payment Default | $ 0 | $ 0 | $ 0 | $ 0 |
Commercial Business | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Number of Contracts | contract | 0 | 2 | ||
Pre-modification Outstanding Recorded Investment | $ 0 | $ 4,796 | ||
Post-modification Outstanding Recorded Investment | $ 0 | $ 4,796 |
LOANS RECEIVABLE AND THE ALLOWANCE FOR CREDIT LOSSES (Newly Restructured Loans) (Details) $ in Millions |
3 Months Ended | 9 Months Ended | |
---|---|---|---|
Sep. 30, 2020
contract
|
Sep. 30, 2020
contract
|
Sep. 30, 2021
USD ($)
|
|
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||
Commitments to advance funds related to TDRs, maximum additional amounts | $ | $ 0.0 | ||
Number of Contracts | contract | 0 | 2 |
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 | 9 Months Ended | ||
---|---|---|---|---|
Sep. 30, 2021 |
Sep. 30, 2020 |
Sep. 30, 2021 |
Sep. 30, 2020 |
|
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
TDRs Which Incurred a Payment Default | $ 0 | $ 0 | $ 0 | $ 0 |
LOANS RECEIVABLE AND THE ALLOWANCE FOR CREDIT LOSSES (Risk-Rated and Non-Risk Rated Loans by Grade and Other Characteristic) (Details) - USD ($) $ in Thousands |
Sep. 30, 2021 |
Dec. 31, 2020 |
---|---|---|
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | $ 9,218,384 | $ 9,870,982 |
Owner-occupied | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 216,464 | 251,023 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 227,782 | 188,312 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 170,922 | 159,857 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 126,339 | 127,251 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 97,402 | 104,043 |
Prior | 271,909 | 242,453 |
Revolving Loans | 11,457 | 3,528 |
Total Loans | 1,122,275 | 1,076,467 |
Loans receivable | 1,122,275 | 1,076,467 |
Commercial real estate - investment properties | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 288,767 | 257,365 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 236,744 | 276,673 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 271,532 | 319,804 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 267,420 | 254,328 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 238,283 | 304,105 |
Prior | 657,812 | 523,347 |
Revolving Loans | 19,726 | 20,062 |
Total Loans | 1,980,284 | 1,955,684 |
Loans receivable | 1,980,284 | 1,955,684 |
Small balance CRE | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 48,428 | 56,544 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 80,778 | 80,090 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 74,482 | 84,749 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 85,597 | 78,249 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 73,371 | 68,791 |
Prior | 238,551 | 202,876 |
Revolving Loans | 544 | 2,550 |
Total Loans | 601,751 | 573,849 |
Loans receivable | 601,751 | 573,849 |
Multifamily Real Estate | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 134,404 | 80,944 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 81,730 | 71,253 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 72,766 | 39,343 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 37,285 | 93,442 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 92,151 | 44,395 |
Prior | 111,907 | 96,863 |
Revolving Loans | 2,517 | 1,983 |
Total Loans | 532,760 | 428,223 |
Loans receivable | 532,760 | 428,223 |
Commercial construction | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 52,372 | 96,419 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 52,593 | 76,923 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 28,717 | 46,172 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 35,904 | 6,038 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 2,256 |
Prior | 619 | 1,129 |
Revolving Loans | 0 | 0 |
Total Loans | 170,205 | 228,937 |
Loans receivable | 170,205 | 228,937 |
Multifamily construction | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 59,818 | 79,710 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 117,033 | 151,141 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 86,493 | 59,744 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 14,840 | 14,932 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 |
Prior | 0 | 0 |
Revolving Loans | 0 | 0 |
Total Loans | 278,184 | 305,527 |
Loans receivable | 278,184 | 305,527 |
One- to four- family construction | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 466,258 | 463,358 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 103,197 | 36,241 |
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 | 85 | 0 |
Revolving Loans | 1,560 | 8,211 |
Total Loans | 571,431 | 507,810 |
Loans receivable | 571,431 | 507,810 |
Land and land development | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 308,164 | 248,915 |
Commercial Business | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 350,468 | 1,250,003 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 276,995 | 245,670 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 198,823 | 221,620 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 137,300 | 71,577 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 52,768 | 40,077 |
Prior | 83,987 | 66,774 |
Revolving Loans | 246,366 | 282,740 |
Total Loans | 1,346,707 | 2,178,461 |
Loans receivable | 1,346,707 | 2,178,461 |
Small business scored | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 176,262 | 157,461 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 134,558 | 145,474 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 119,736 | 127,691 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 93,047 | 91,081 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 63,543 | 48,082 |
Prior | 79,861 | 63,948 |
Revolving Loans | 108,547 | 109,714 |
Total Loans | 775,554 | 743,451 |
Loans receivable | 775,554 | 743,451 |
Agricultural business, including secured by farmland | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 26,643 | 33,574 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 28,091 | 64,710 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 54,167 | 32,457 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 28,583 | 23,608 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 15,842 | 23,069 |
Prior | 39,007 | 28,536 |
Revolving Loans | 95,136 | 93,995 |
Total Loans | 287,469 | 299,949 |
Loans receivable | 287,469 | 299,949 |
One- to four- family residential | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 157,577 | 106,462 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 109,811 | 90,539 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 65,469 | 94,738 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 59,001 | 102,776 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 64,017 | 60,907 |
Prior | 224,742 | 259,353 |
Revolving Loans | 1,751 | 3,164 |
Total Loans | 682,368 | 717,939 |
Loans receivable | 682,368 | 717,939 |
Consumer—home equity revolving lines of credit | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 7,044 | 10,522 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 1,190 | 3,131 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 2,018 | 2,751 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 1,965 | 3,923 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 2,368 | 1,658 |
Prior | 3,514 | 2,696 |
Revolving Loans | 444,720 | 467,131 |
Total Loans | 462,819 | 491,812 |
Consumer secured by one- to four-family | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans receivable | 462,819 | 491,812 |
Consumer-other | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 13,927 | 22,101 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 15,361 | 13,412 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 9,443 | 13,951 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 9,606 | 11,488 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 6,944 | 8,642 |
Prior | 18,672 | 18,842 |
Revolving Loans | 24,460 | 25,522 |
Total Loans | 98,413 | 113,958 |
Land and land development | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 152,321 | 156,464 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 112,775 | 37,427 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 19,234 | 19,607 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 9,189 | 6,991 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 4,218 | 6,264 |
Prior | 8,309 | 5,142 |
Revolving Loans | 2,118 | 17,020 |
Total Loans | 308,164 | 248,915 |
Pass | Owner-occupied | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 202,187 | 243,100 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 227,782 | 156,838 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 154,951 | 156,817 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 126,339 | 122,484 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 92,197 | 92,312 |
Prior | 232,653 | 212,792 |
Revolving Loans | 11,457 | 3,379 |
Total Loans | 1,047,566 | 987,722 |
Pass | Commercial real estate - investment properties | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 286,605 | 237,553 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 227,093 | 262,543 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 266,240 | 299,452 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 246,056 | 218,018 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 227,915 | 278,348 |
Prior | 612,438 | 502,914 |
Revolving Loans | 19,726 | 20,062 |
Total Loans | 1,886,073 | 1,818,890 |
Pass | Multifamily Real Estate | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 134,404 | 78,632 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 79,418 | 69,825 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 71,346 | 39,343 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 37,285 | 93,442 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 92,151 | 44,395 |
Prior | 109,993 | 96,863 |
Revolving Loans | 2,517 | 1,983 |
Total Loans | 527,114 | 424,483 |
Pass | Commercial construction | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 48,100 | 83,506 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 52,593 | 67,152 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 24,682 | 41,299 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 31,084 | 6,038 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 2,158 |
Prior | 521 | 1,129 |
Revolving Loans | 0 | 0 |
Total Loans | 156,980 | 201,282 |
Pass | Multifamily construction | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 59,818 | 79,710 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 112,147 | 151,141 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 86,493 | 59,744 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 14,840 | 14,932 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 |
Prior | 0 | 0 |
Revolving Loans | 0 | 0 |
Total Loans | 273,298 | 305,527 |
Pass | One- to four- family construction | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 466,258 | 461,294 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 103,197 | 35,910 |
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 | 85 | 0 |
Revolving Loans | 1,560 | 7,581 |
Total Loans | 571,431 | 504,785 |
Pass | Commercial Business | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 348,123 | 1,243,276 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 274,487 | 230,845 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 197,462 | 203,051 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 127,281 | 65,524 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 48,760 | 38,757 |
Prior | 83,084 | 66,206 |
Revolving Loans | 231,186 | 264,741 |
Total Loans | 1,310,383 | 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 | 26,643 | 32,032 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 27,645 | 62,058 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 51,961 | 31,381 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 28,073 | 22,635 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 15,698 | 22,394 |
Prior | 37,116 | 24,950 |
Revolving Loans | 93,390 | 91,660 |
Total Loans | 280,526 | 287,110 |
Pass | Land and land development | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 149,447 | 156,450 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 112,761 | 37,397 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 18,967 | 16,560 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 9,189 | 6,801 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 4,218 | 6,264 |
Prior | 8,174 | 4,840 |
Revolving Loans | 2,118 | 17,020 |
Total Loans | 304,874 | 245,332 |
Special Mention | Owner-occupied | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 12,309 | 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 | 2,201 | 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 | 2,147 | 0 |
Prior | 3,384 | 1,869 |
Revolving Loans | 0 | 149 |
Total Loans | 20,041 | 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 | 4,167 | 0 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 2,730 |
Prior | 0 | 1,856 |
Revolving Loans | 0 | 0 |
Total Loans | 4,167 | 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 | 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 | 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 | 68 | 103 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 86 | 412 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 271 | 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 | 690 | 0 |
Prior | 11 | 115 |
Revolving Loans | 10,667 | 9,507 |
Total Loans | 11,793 | 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 | 0 | 0 |
Prior | 0 | 537 |
Revolving Loans | 0 | 0 |
Total Loans | 0 | 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 | 1,968 | 7,923 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 26,914 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 13,770 | 3,040 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 2,516 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 3,058 | 11,731 |
Prior | 35,872 | 27,792 |
Revolving Loans | 0 | 0 |
Total Loans | 54,668 | 79,916 |
Substandard | Commercial real estate - investment properties | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 2,162 | 19,812 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 9,651 | 11,418 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 5,292 | 20,352 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 17,197 | 36,310 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 10,368 | 23,027 |
Prior | 45,374 | 18,577 |
Revolving Loans | 0 | 0 |
Total Loans | 90,044 | 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 | 1,420 | 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 | 1,914 | 0 |
Revolving Loans | 0 | 0 |
Total Loans | 5,646 | 3,740 |
Substandard | Commercial construction | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 4,272 | 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 | 4,035 | 4,873 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 4,820 | 0 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 98 |
Prior | 98 | 0 |
Revolving Loans | 0 | 0 |
Total Loans | 13,225 | 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 | 4,886 | 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 | 4,886 | 0 |
Substandard | One- to four- family construction | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 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 | 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 | 832 |
Substandard | Commercial Business | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 2,277 | 6,624 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 2,422 | 14,413 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 1,090 | 18,569 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 10,019 | 5,224 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 3,318 | 1,320 |
Prior | 892 | 453 |
Revolving Loans | 4,513 | 8,492 |
Total Loans | 24,531 | 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 | 446 | 2,652 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 2,206 | 1,076 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 510 | 163 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 144 | 675 |
Prior | 1,891 | 3,049 |
Revolving Loans | 1,746 | 2,335 |
Total Loans | 6,943 | 11,492 |
Substandard | Land and land development | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 2,874 | 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 | 267 | 3,047 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 190 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 |
Prior | 135 | 302 |
Revolving Loans | 0 | 0 |
Total Loans | 3,290 | 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 | 48,385 | 56,544 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 80,778 | 80,090 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 74,482 | 84,749 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 85,597 | 77,637 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 73,371 | 68,791 |
Prior | 238,549 | 202,653 |
Revolving Loans | 544 | 2,550 |
Total Loans | 601,706 | 573,014 |
Current | Small business scored | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 176,262 | 157,161 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 134,418 | 145,037 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 119,587 | 126,578 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 92,657 | 89,734 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 63,168 | 47,909 |
Prior | 79,568 | 63,347 |
Revolving Loans | 108,154 | 109,287 |
Total Loans | 773,814 | 739,053 |
Current | One- to four- family residential | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 157,577 | 105,411 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 109,535 | 90,425 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 65,469 | 92,232 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 58,832 | 101,491 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 64,017 | 60,738 |
Prior | 223,601 | 254,850 |
Revolving Loans | 1,751 | 3,164 |
Total Loans | 680,782 | 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 | 7,044 | 10,522 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 1,125 | 2,617 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 1,711 | 2,553 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 1,772 | 3,359 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 2,089 | 1,372 |
Prior | 3,007 | 2,154 |
Revolving Loans | 444,348 | 466,490 |
Total Loans | 461,096 | 489,067 |
Current | Consumer-other | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 13,921 | 21,811 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 15,239 | 13,377 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 9,426 | 13,936 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 9,524 | 11,433 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 6,917 | 8,575 |
Prior | 18,640 | 18,802 |
Revolving Loans | 24,394 | 25,460 |
Total Loans | 98,061 | 113,394 |
30-59 Days Past Due | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Total Loans | 6,772 | 10,675 |
30-59 Days Past Due | Owner-occupied | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Total Loans | 0 | 0 |
30-59 Days Past Due | Commercial real estate - investment properties | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Total Loans | 0 | 0 |
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 | 2 | 0 |
Revolving Loans | 0 | 0 |
Total Loans | 2 | 0 |
30-59 Days Past Due | Multifamily Real Estate | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Total Loans | 0 | 0 |
30-59 Days Past Due | Commercial construction | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Total Loans | 0 | 0 |
30-59 Days Past Due | Multifamily construction | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Total Loans | 4,886 | 0 |
30-59 Days Past Due | One- to four- family construction | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Total Loans | 0 | 356 |
30-59 Days Past Due | Land and land development | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Total Loans | 0 | 0 |
30-59 Days Past Due | Commercial Business | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Total Loans | 117 | 3,247 |
30-59 Days Past Due | Small business scored | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 129 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 132 | 62 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 10 | 310 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 128 | 723 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 14 | 4 |
Prior | 50 | 1 |
Revolving Loans | 172 | 230 |
Total Loans | 506 | 1,459 |
30-59 Days Past Due | Agricultural business, including secured by farmland | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Total Loans | 0 | 298 |
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 | 0 | 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 | 0 | 829 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 |
Prior | 107 | 1,438 |
Revolving Loans | 0 | 0 |
Total Loans | 107 | 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 | 65 | 0 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 110 | 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 | 100 | 0 |
Prior | 385 | 50 |
Revolving Loans | 180 | 409 |
Total Loans | 840 | 459 |
30-59 Days Past Due | Consumer secured by one- to four-family | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Total Loans | 840 | 459 |
30-59 Days Past Due | Consumer-other | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 5 | 48 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 118 | 35 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 17 | 15 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 79 | 22 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 20 | 46 |
Prior | 26 | 26 |
Revolving Loans | 49 | 44 |
Total Loans | 314 | 236 |
60-89 Days Past Due | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Total Loans | 1,187 | 2,908 |
60-89 Days Past Due | Owner-occupied | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Total Loans | 0 | 182 |
60-89 Days Past Due | Commercial real estate - investment properties | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Total Loans | 0 | 0 |
60-89 Days Past Due | Small balance CRE | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 43 | 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 | 0 | 0 |
Revolving Loans | 0 | 0 |
Total Loans | 43 | 45 |
60-89 Days Past Due | Multifamily Real Estate | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Total Loans | 342 | 0 |
60-89 Days Past Due | Commercial construction | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Total Loans | 0 | 0 |
60-89 Days Past Due | Multifamily construction | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Total Loans | 0 | 0 |
60-89 Days Past Due | One- to four- family construction | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Total Loans | 0 | 0 |
60-89 Days Past Due | Land and land development | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Total Loans | 0 | 0 |
60-89 Days Past Due | Commercial Business | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Total Loans | 167 | 31 |
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 | 0 | 147 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 3 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 142 | 140 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 26 | 0 |
Prior | 0 | 352 |
Revolving Loans | 160 | 151 |
Total Loans | 328 | 891 |
60-89 Days Past Due | Agricultural business, including secured by farmland | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Total Loans | 0 | 37 |
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 | 0 | 0 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 |
Prior | 109 | 936 |
Revolving Loans | 0 | 0 |
Total Loans | 109 | 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 | 71 | 0 |
Prior | 91 | 237 |
Revolving Loans | 2 | 0 |
Total Loans | 164 | 439 |
60-89 Days Past Due | Consumer secured by one- to four-family | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Total Loans | 164 | 439 |
60-89 Days Past Due | Consumer-other | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year | 1 | 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 | 0 | 0 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 3 | 33 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 7 | 21 |
Prior | 6 | 14 |
Revolving Loans | 17 | 18 |
Total Loans | 34 | 328 |
90 Days Past Due | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Total Loans | 10,660 | 22,548 |
90 Days Past Due | Owner-occupied | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Total Loans | 495 | 1,447 |
90 Days Past Due | Commercial real estate - investment properties | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Total Loans | 5,185 | 7,981 |
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 | 0 | 0 |
Prior | 0 | 223 |
Revolving Loans | 0 | 0 |
Total Loans | 0 | 790 |
90 Days Past Due | Multifamily Real Estate | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Total Loans | 0 | 0 |
90 Days Past Due | Commercial construction | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Total Loans | 98 | 98 |
90 Days Past Due | Multifamily construction | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Total Loans | 0 | 0 |
90 Days Past Due | One- to four- family construction | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Total Loans | 0 | 331 |
90 Days Past Due | Land and land development | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Total Loans | 14 | 317 |
90 Days Past Due | Commercial Business | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Total Loans | 847 | 2,088 |
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 | 8 | 228 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 139 | 800 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 120 | 484 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 335 | 169 |
Prior | 243 | 248 |
Revolving Loans | 61 | 46 |
Total Loans | 906 | 2,048 |
90 Days Past Due | Agricultural business, including secured by farmland | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Total Loans | 1,022 | 1,548 |
90 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 | 276 | 114 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 1,185 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 169 | 456 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 169 |
Prior | 925 | 2,129 |
Revolving Loans | 0 | 0 |
Total Loans | 1,370 | 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 | 197 | 198 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 193 | 564 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 108 | 286 |
Prior | 31 | 255 |
Revolving Loans | 190 | 232 |
Total Loans | 719 | 1,847 |
90 Days Past Due | Consumer secured by one- to four-family | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Total Loans | 719 | 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 | 4 | 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 | $ 4 | $ 0 |
LOANS RECEIVABLE AND THE ALLOWANCE FOR CREDIT LOSSES (Collateral Secured) (Details) - USD ($) $ in Thousands |
Sep. 30, 2021 |
Dec. 31, 2020 |
---|---|---|
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | $ 15,797 | $ 19,609 |
Real Estate Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 14,444 | 18,578 |
Accounts Receivable [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 659 | 0 |
Equipment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 694 | 1,031 |
Owner-occupied | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 3,949 | 7,506 |
Owner-occupied | Real Estate Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 3,949 | 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 |
Commercial real estate - investment properties | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 7,468 | 8,979 |
Commercial real estate - investment properties | Real Estate Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 7,468 | 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 |
Small balance CRE | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 2,452 | 567 |
Small balance CRE | Real Estate Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 2,452 | 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 |
Land and land development—residential | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 302 | |
Land and land development—residential | Real Estate Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 302 | |
Land and land development—residential | Accounts Receivable [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 0 | |
Land and land development—residential | Equipment [Member] | ||
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 | 822 | 557 |
Commercial Business | Real Estate Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 107 | 557 |
Commercial Business | Accounts Receivable [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 659 | 0 |
Commercial Business | Equipment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 56 | 0 |
Small business scored | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 85 | 91 |
Small business scored | Real Estate Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 41 | 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 | 44 | 47 |
Agricultural Business | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateral Dependent Loans, Amortized Cost | 1,021 | 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 | $ 594 | 984 |
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 |
LOANS RECEIVABLE AND THE ALLOWANCE FOR CREDIT LOSSES (Age Analysis of Company's Past Due Loans) (Details) - USD ($) $ in Thousands |
Sep. 30, 2021 |
Dec. 31, 2020 |
---|---|---|
Financing Receivable, Past Due [Line Items] | ||
Total loans | $ 9,218,384 | $ 9,870,982 |
Non-accrual with no Allowance | 15,784 | 19,586 |
Nonaccrual loans | 24,039 | 32,560 |
Loans 90 days or more past due and still accruing | 4,822 | 3,054 |
Commerical real estate - owner-occupied [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans | 1,122,275 | 1,076,467 |
Non-accrual with no Allowance | 3,952 | 7,509 |
Nonaccrual loans | 4,535 | 8,429 |
Loans 90 days or more past due and still accruing | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss | 1,122,275 | 1,076,467 |
Commercial real estate - investment properties | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans | 1,980,284 | 1,955,684 |
Non-accrual with no Allowance | 7,468 | 8,979 |
Nonaccrual loans | 7,620 | 8,979 |
Loans 90 days or more past due and still accruing | 3,955 | 0 |
Financing Receivable, before Allowance for Credit Loss | 1,980,284 | 1,955,684 |
Small balance CRE | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans | 601,751 | 573,849 |
Non-accrual with no Allowance | 2,440 | 567 |
Nonaccrual loans | 2,776 | 791 |
Loans 90 days or more past due and still accruing | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss | 601,751 | 573,849 |
Multifamily Real Estate | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans | 532,760 | 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 |
Financing Receivable, before Allowance for Credit Loss | 532,760 | 428,223 |
Commercial construction | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans | 170,205 | 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 |
Financing Receivable, before Allowance for Credit Loss | 170,205 | 228,937 |
Multifamily construction | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans | 278,184 | 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 |
Financing Receivable, before Allowance for Credit Loss | 278,184 | 305,527 |
One- to four- family construction | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans | 571,431 | 507,810 |
Non-accrual with no Allowance | 0 | 0 |
Nonaccrual loans | 0 | 331 |
Loans 90 days or more past due and still accruing | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss | 571,431 | 507,810 |
Land and land development - residential [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans | 308,164 | 248,915 |
Non-accrual with no Allowance | 0 | 302 |
Nonaccrual loans | 256 | 507 |
Loans 90 days or more past due and still accruing | 0 | 0 |
Commercial Business | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans | 1,346,707 | 2,178,461 |
Non-accrual with no Allowance | 820 | 555 |
Nonaccrual loans | 1,326 | 1,988 |
Loans 90 days or more past due and still accruing | 0 | 889 |
Financing Receivable, before Allowance for Credit Loss | 1,346,707 | 2,178,461 |
Small business scored | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans | 775,554 | 743,451 |
Non-accrual with no Allowance | 83 | 91 |
Nonaccrual loans | 1,374 | 3,419 |
Loans 90 days or more past due and still accruing | 61 | 136 |
Financing Receivable, before Allowance for Credit Loss | 775,554 | 743,451 |
Agricultural business, including secured by farmland | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans | 287,469 | 299,949 |
Non-accrual with no Allowance | 1,021 | 1,412 |
Nonaccrual loans | 1,022 | 1,743 |
Loans 90 days or more past due and still accruing | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss | 287,469 | 299,949 |
One- to four-family residential [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans | 682,368 | 717,939 |
Non-accrual with no Allowance | 0 | 171 |
Nonaccrual loans | 3,182 | 3,556 |
Loans 90 days or more past due and still accruing | 772 | 1,899 |
Financing Receivable, before Allowance for Credit Loss | 682,368 | 717,939 |
Consumer secured by one- to four-family [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans | 462,819 | 491,812 |
Non-accrual with no Allowance | 0 | 0 |
Nonaccrual loans | 1,831 | 2,697 |
Loans 90 days or more past due and still accruing | 30 | 130 |
Consumer-other | ||
Financing Receivable, Past Due [Line Items] | ||
Total loans | 98,413 | 113,958 |
Non-accrual with no Allowance | 0 | 0 |
Nonaccrual loans | 19 | 22 |
Loans 90 days or more past due and still accruing | 4 | 0 |
30 to 59 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 6,772 | 10,675 |
30 to 59 Days Past Due [Member] | Commerical real estate - owner-occupied [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 |
30 to 59 Days Past Due [Member] | Commercial real estate - investment properties | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 |
30 to 59 Days Past Due [Member] | Small balance CRE | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 2 | 0 |
30 to 59 Days Past Due [Member] | Multifamily Real Estate | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 |
30 to 59 Days Past Due [Member] | Commercial construction | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 |
30 to 59 Days Past Due [Member] | Multifamily construction | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 4,886 | 0 |
30 to 59 Days Past Due [Member] | One- to four- family construction | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | 356 |
30 to 59 Days Past Due [Member] | Land and land development - residential [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 |
30 to 59 Days Past Due [Member] | Commercial Business | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 117 | 3,247 |
30 to 59 Days Past Due [Member] | Small business scored | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 506 | 1,459 |
30 to 59 Days Past Due [Member] | Agricultural business, including secured by farmland | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | 298 |
30 to 59 Days Past Due [Member] | One- to four-family residential [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 107 | 4,620 |
30 to 59 Days Past Due [Member] | Consumer secured by one- to four-family [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 840 | 459 |
30 to 59 Days Past Due [Member] | Consumer-other | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 314 | 236 |
60 to 89 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 1,187 | 2,908 |
60 to 89 Days Past Due [Member] | Commerical real estate - owner-occupied [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | 182 |
60 to 89 Days Past Due [Member] | Commercial real estate - investment properties | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 |
60 to 89 Days Past Due [Member] | Small balance CRE | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 43 | 45 |
60 to 89 Days Past Due [Member] | Multifamily Real Estate | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 342 | 0 |
60 to 89 Days Past Due [Member] | Commercial construction | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 |
60 to 89 Days Past Due [Member] | Multifamily construction | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 |
60 to 89 Days Past Due [Member] | One- to four- family construction | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 |
60 to 89 Days Past Due [Member] | Land and land development - residential [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 |
60 to 89 Days Past Due [Member] | Commercial Business | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 167 | 31 |
60 to 89 Days Past Due [Member] | Small business scored | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 328 | 891 |
60 to 89 Days Past Due [Member] | Agricultural business, including secured by farmland | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | 37 |
60 to 89 Days Past Due [Member] | One- to four-family residential [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 109 | 955 |
60 to 89 Days Past Due [Member] | Consumer secured by one- to four-family [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 164 | 439 |
60 to 89 Days Past Due [Member] | Consumer-other | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 34 | 328 |
90 Days or More Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 10,660 | 22,548 |
90 Days or More Past Due [Member] | Commerical real estate - owner-occupied [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 495 | 1,447 |
90 Days or More Past Due [Member] | Commercial real estate - investment properties | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 5,185 | 7,981 |
90 Days or More Past Due [Member] | Small balance CRE | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | 790 |
90 Days or More Past Due [Member] | Multifamily Real Estate | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 |
90 Days or More Past Due [Member] | Commercial construction | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 98 | 98 |
90 Days or More Past Due [Member] | Multifamily construction | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 |
90 Days or More Past Due [Member] | One- to four- family construction | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | 331 |
90 Days or More Past Due [Member] | Land and land development - residential [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 14 | 317 |
90 Days or More Past Due [Member] | Commercial Business | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 847 | 2,088 |
90 Days or More Past Due [Member] | Small business scored | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 906 | 2,048 |
90 Days or More Past Due [Member] | Agricultural business, including secured by farmland | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 1,022 | 1,548 |
90 Days or More Past Due [Member] | One- to four-family residential [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 1,370 | 4,053 |
90 Days or More Past Due [Member] | Consumer secured by one- to four-family [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 719 | 1,847 |
90 Days or More Past Due [Member] | Consumer-other | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 4 | 0 |
Financial Asset, Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 18,619 | 36,131 |
Financial Asset, Past Due | Commerical real estate - owner-occupied [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 495 | 1,629 |
Financial Asset, Past Due | Commercial real estate - investment properties | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 5,185 | 7,981 |
Financial Asset, Past Due | Small balance CRE | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 45 | 835 |
Financial Asset, Past Due | Multifamily Real Estate | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 342 | 0 |
Financial Asset, Past Due | Commercial construction | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 98 | 98 |
Financial Asset, Past Due | Multifamily construction | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 4,886 | 0 |
Financial Asset, Past Due | One- to four- family construction | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | 687 |
Financial Asset, Past Due | Land and land development - residential [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 14 | 317 |
Financial Asset, Past Due | Commercial Business | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 1,131 | 5,366 |
Financial Asset, Past Due | Small business scored | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 1,740 | 4,398 |
Financial Asset, Past Due | Agricultural business, including secured by farmland | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 1,022 | 1,883 |
Financial Asset, Past Due | One- to four-family residential [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 1,586 | 9,628 |
Financial Asset, Past Due | Consumer secured by one- to four-family [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 1,723 | 2,745 |
Financial Asset, Past Due | Consumer-other | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 352 | 564 |
Financial Asset, Not Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 9,199,765 | 9,834,851 |
Financial Asset, Not Past Due | Commerical real estate - owner-occupied [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 1,121,780 | 1,074,838 |
Financial Asset, Not Past Due | Commercial real estate - investment properties | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 1,975,099 | 1,947,703 |
Financial Asset, Not Past Due | Small balance CRE | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 601,706 | 573,014 |
Financial Asset, Not Past Due | Multifamily Real Estate | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 532,418 | 428,223 |
Financial Asset, Not Past Due | Commercial construction | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 170,107 | 228,839 |
Financial Asset, Not Past Due | Multifamily construction | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 273,298 | 305,527 |
Financial Asset, Not Past Due | One- to four- family construction | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 571,431 | 507,123 |
Financial Asset, Not Past Due | Land and land development - residential [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 308,150 | 248,598 |
Financial Asset, Not Past Due | Commercial Business | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 1,345,576 | 2,173,095 |
Financial Asset, Not Past Due | Small business scored | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 773,814 | 739,053 |
Financial Asset, Not Past Due | Agricultural business, including secured by farmland | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 286,447 | 298,066 |
Financial Asset, Not Past Due | One- to four-family residential [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 680,782 | 708,311 |
Financial Asset, Not Past Due | Consumer secured by one- to four-family [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 461,096 | 489,067 |
Financial Asset, Not Past Due | Consumer-other | ||
Financing Receivable, Past Due [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | $ 98,061 | $ 113,394 |
LOANS RECEIVABLE AND THE ALLOWANCE FOR CREDIT LOSSES (Allowance for Loan Losses) (Details) - USD ($) $ in Thousands |
3 Months Ended | 9 Months Ended | |||
---|---|---|---|---|---|
Sep. 30, 2021 |
Jun. 30, 2021 |
Sep. 30, 2020 |
Sep. 30, 2021 |
Sep. 30, 2020 |
|
Financing Receivable, Allowance for Loan Losses [Roll Forward] | |||||
Allowance for loan losses, Beginning balance | $ 148,009 | $ 156,352 | $ 167,279 | $ 100,559 | |
(Recapture)/provision for credit losses | (8,850) | 13,641 | (24,985) | 64,878 | |
Recoveries | 1,416 | 445 | 3,521 | 3,453 | |
Charge-offs | (660) | (2,473) | (5,900) | (8,737) | |
Allowance for loan losses, Ending balance | 139,915 | $ 148,009 | 167,965 | 139,915 | 167,965 |
Impact of Adopting ASC 326 | |||||
Financing Receivable, Allowance for Loan Losses [Roll Forward] | |||||
(Recapture)/provision for credit losses | 7,812 | ||||
Commercial Real Estate | |||||
Financing Receivable, Allowance for Loan Losses [Roll Forward] | |||||
Allowance for loan losses, Beginning balance | 60,349 | 53,166 | 57,791 | 30,591 | |
(Recapture)/provision for credit losses | (4,057) | 6,895 | 2,096 | 32,213 | |
Recoveries | 923 | 23 | 1,094 | 244 | |
Charge-offs | 0 | (379) | (3,766) | (479) | |
Allowance for loan losses, Ending balance | 57,215 | 60,349 | 59,705 | 57,215 | 59,705 |
Commercial Real Estate | Impact of Adopting ASC 326 | |||||
Financing Receivable, Allowance for Loan Losses [Roll Forward] | |||||
(Recapture)/provision for credit losses | (2,864) | ||||
Multifamily Real Estate | |||||
Financing Receivable, Allowance for Loan Losses [Roll Forward] | |||||
Allowance for loan losses, Beginning balance | 5,807 | 3,504 | 3,893 | 4,754 | |
(Recapture)/provision for credit losses | 850 | (248) | 2,764 | 772 | |
Recoveries | 0 | 0 | 0 | 0 | |
Charge-offs | 0 | 0 | 0 | (66) | |
Allowance for loan losses, Ending balance | 6,657 | 5,807 | 3,256 | 6,657 | 3,256 |
Multifamily Real Estate | Impact of Adopting ASC 326 | |||||
Financing Receivable, Allowance for Loan Losses [Roll Forward] | |||||
(Recapture)/provision for credit losses | (2,204) | ||||
Construction and Land | |||||
Financing Receivable, Allowance for Loan Losses [Roll Forward] | |||||
Allowance for loan losses, Beginning balance | 30,899 | 36,916 | 41,295 | 22,994 | |
(Recapture)/provision for credit losses | (1,557) | 2,561 | (12,053) | 13,963 | |
Recoveries | 0 | 0 | 100 | 105 | |
Charge-offs | 0 | 0 | 0 | (100) | |
Allowance for loan losses, Ending balance | 29,342 | 30,899 | 39,477 | 29,342 | 39,477 |
Construction and Land | Impact of Adopting ASC 326 | |||||
Financing Receivable, Allowance for Loan Losses [Roll Forward] | |||||
(Recapture)/provision for credit losses | 2,515 | ||||
Commercial Business | |||||
Financing Receivable, Allowance for Loan Losses [Roll Forward] | |||||
Allowance for loan losses, Beginning balance | 30,830 | 33,870 | 35,007 | 23,370 | |
(Recapture)/provision for credit losses | (3,825) | 2,550 | (8,390) | 14,402 | |
Recoveries | 230 | 246 | 1,530 | 821 | |
Charge-offs | (362) | (1,297) | (1,274) | (6,234) | |
Allowance for loan losses, Ending balance | 26,873 | 30,830 | 35,369 | 26,873 | 35,369 |
Commercial Business | Impact of Adopting ASC 326 | |||||
Financing Receivable, Allowance for Loan Losses [Roll Forward] | |||||
(Recapture)/provision for credit losses | 3,010 | ||||
Agricultural Business | |||||
Financing Receivable, Allowance for Loan Losses [Roll Forward] | |||||
Allowance for loan losses, Beginning balance | 3,256 | 4,517 | 4,914 | 4,120 | |
(Recapture)/provision for credit losses | 83 | 1,026 | (1,581) | 64 | |
Recoveries | 17 | 0 | 25 | 1,772 | |
Charge-offs | (179) | (492) | (181) | (554) | |
Allowance for loan losses, Ending balance | 3,177 | 3,256 | 5,051 | 3,177 | 5,051 |
Agricultural Business | Impact of Adopting ASC 326 | |||||
Financing Receivable, Allowance for Loan Losses [Roll Forward] | |||||
(Recapture)/provision for credit losses | (351) | ||||
One- to Four-Family Residential | |||||
Financing Receivable, Allowance for Loan Losses [Roll Forward] | |||||
Allowance for loan losses, Beginning balance | 9,800 | 12,746 | 9,913 | 4,136 | |
(Recapture)/provision for credit losses | (359) | 100 | (605) | 1,470 | |
Recoveries | 19 | 94 | 152 | 273 | |
Charge-offs | 0 | (72) | 0 | (136) | |
Allowance for loan losses, Ending balance | 9,460 | 9,800 | 12,868 | 9,460 | 12,868 |
One- to Four-Family Residential | Impact of Adopting ASC 326 | |||||
Financing Receivable, Allowance for Loan Losses [Roll Forward] | |||||
(Recapture)/provision for credit losses | 7,125 | ||||
Consumer | |||||
Financing Receivable, Allowance for Loan Losses [Roll Forward] | |||||
Allowance for loan losses, Beginning balance | 7,068 | 11,633 | 14,466 | 8,202 | |
(Recapture)/provision for credit losses | 15 | 757 | (7,216) | 1,994 | |
Recoveries | 227 | 82 | 620 | 238 | |
Charge-offs | (119) | (233) | (679) | (1,168) | |
Allowance for loan losses, Ending balance | 7,191 | 7,068 | 12,239 | 7,191 | 12,239 |
Consumer | Impact of Adopting ASC 326 | |||||
Financing Receivable, Allowance for Loan Losses [Roll Forward] | |||||
(Recapture)/provision for credit losses | 2,973 | ||||
Unallocated | |||||
Financing Receivable, Allowance for Loan Losses [Roll Forward] | |||||
Allowance for loan losses, Beginning balance | 0 | 0 | 0 | 2,392 | |
(Recapture)/provision for credit losses | 0 | 0 | 0 | 0 | |
Recoveries | 0 | 0 | 0 | 0 | |
Charge-offs | 0 | 0 | 0 | 0 | |
Allowance for loan losses, Ending balance | $ 0 | 0 | $ 0 | $ 0 | $ 0 |
Unallocated | Impact of Adopting ASC 326 | |||||
Financing Receivable, Allowance for Loan Losses [Roll Forward] | |||||
(Recapture)/provision for credit losses | $ (2,392) |
GOODWILL, OTHER INTANGIBLE ASSETS AND MORTGAGE SERVICING RIGHTS (Finite-Lived Intangible Assets) (Details) - USD ($) $ in Thousands |
9 Months Ended | 12 Months Ended |
---|---|---|
Sep. 30, 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 | (4,997) | (7,732) |
Goodwill and other intangibles, net, end of period | 389,550 | 394,547 |
Core Deposit Intangibles [Member] | ||
Finite-lived Intangible Assets [Roll Forward] | ||
Finite lived assets Balance, beginning of period | 21,426 | 29,158 |
Amortization | (4,997) | (7,732) |
Finite lived assets Balance, end of period | $ 16,429 | $ 21,426 |
GOODWILL, OTHER INTANGIBLE ASSETS AND MORTGAGE SERVICING RIGHTS (Estimated Annual Amortization Expense) (Details) - Core Deposit Intangibles [Member] - USD ($) $ in Thousands |
Sep. 30, 2021 |
Dec. 31, 2020 |
Dec. 31, 2019 |
---|---|---|---|
Finite-Lived Intangible Assets [Line Items] | |||
Remainder of 2017 | $ 1,574 | ||
2018 | 5,317 | ||
2019 | 3,814 | ||
2020 | 2,659 | ||
2021 | 1,575 | ||
Thereafter | 1,490 | ||
Finite lived assets, net | $ 16,429 | $ 21,426 | $ 29,158 |
GOODWILL, OTHER INTANGIBLE ASSETS AND MORTGAGE SERVICING RIGHTS (Mortgage Servicing Rights) (Details) - USD ($) $ in Thousands |
3 Months Ended | 9 Months Ended | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Sep. 30, 2021 |
Sep. 30, 2020 |
Sep. 30, 2021 |
Sep. 30, 2020 |
Dec. 31, 2020 |
|||||||
Servicing Asset at Amortized Value, Balance [Roll Forward] | |||||||||||
Additions—through purchase | $ 53 | $ 40 | $ 121 | $ 141 | |||||||
Servicing Contracts [Member] | |||||||||||
Morgage Servicing Rights at Amortized Value [Line Items] | |||||||||||
Loans Serviced For Others | 2,680,000 | 2,680,000 | $ 2,640,000 | ||||||||
Custodial Accounts | 3,100 | 3,100 | $ 3,800 | ||||||||
Servicing Asset at Amortized Value, Balance [Roll Forward] | |||||||||||
Balance, net of valuation allowance, beginning of the period | 15,612 | 14,424 | 15,223 | 14,148 | |||||||
Additions—amounts capitalized | 1,621 | 2,426 | 5,418 | 6,030 | |||||||
Amortization | (1,533) | [1] | (2,075) | [1] | (5,009) | (5,504) | |||||
Balance, net of valuation allowance, end of the period | [2] | 15,753 | $ 14,815 | 15,753 | $ 14,815 | ||||||
Valuation allowance, end of period | $ 0 | $ 0 | |||||||||
|
REAL ESTATE OWNED, NET (REO Rollforward) (Details) - USD ($) $ in Thousands |
3 Months Ended | 9 Months Ended | ||
---|---|---|---|---|
Sep. 30, 2021 |
Sep. 30, 2020 |
Sep. 30, 2021 |
Sep. 30, 2020 |
|
Real Estate Owned [Roll Forward] | ||||
Balance, beginning of the period | $ 763 | $ 2,400 | $ 816 | $ 814 |
Additions from loan foreclosures | 89 | 0 | 512 | 1,588 |
Proceeds from Sale of Other Real Estate | 0 | 707 | 783 | 805 |
Gains (Losses) on Sales of Other Real Estate | 0 | (120) | (307) | (216) |
Real Estate Owned, Valuation Allowance, Period Increase (Decrease) | 0 | (18) | 0 | (18) |
Balance, end of the period | $ 852 | $ 1,795 | $ 852 | $ 1,795 |
REAL ESTATE OWNED, NET REAL ESTATE OWNED, NET (Textual) (Details) - USD ($) |
Sep. 30, 2021 |
Jun. 30, 2021 |
Dec. 31, 2020 |
Sep. 30, 2020 |
Jun. 30, 2020 |
Dec. 31, 2019 |
---|---|---|---|---|---|---|
Real Estate Owned [Line Items] | ||||||
Real Estate Owned | $ 852,000 | $ 763,000 | $ 816,000 | $ 1,795,000 | $ 2,400,000 | $ 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) (Details) - USD ($) |
Sep. 30, 2021 |
Dec. 31, 2020 |
||
---|---|---|---|---|
Deposits: | ||||
Non-interest-bearing accounts | $ 6,400,864,000 | $ 5,492,924,000 | ||
Interest-bearing checking | 1,799,657,000 | 1,569,435,000 | ||
Regular savings accounts | 2,773,995,000 | 2,398,482,000 | ||
Money market accounts | 2,339,107,000 | 2,191,135,000 | ||
Total interest-bearing transaction and saving accounts | 6,912,759,000 | 6,159,052,000 | ||
Certificates of deposit less than or equal to $250,000 | 663,592,000 | 718,256,000 | ||
Certificates of deposit greater than $250,000 | 187,462,000 | 197,064,000 | ||
Total certificates of deposit | [1] | 851,054,000 | 915,320,000 | |
Total deposits | 14,164,677,000 | 12,567,296,000 | ||
Included in total deposits: | ||||
Public fund transaction and savings accounts | 354,821,000 | 302,875,000 | ||
Public fund interest-bearing certificates | 40,851,000 | 59,127,000 | ||
Total public deposits | 395,672,000 | 362,002,000 | ||
CD acquisition premium | $ 2,000 | $ 58,000 | ||
|
DEPOSITS DEPOSITS (Maturities and Weighted Average Interest Rates of Certificates of Deposit) (Details) - USD ($) $ in Thousands |
Sep. 30, 2021 |
Dec. 31, 2020 |
||
---|---|---|---|---|
Maturities of Time Deposits [Abstract] | ||||
Maturing in one year or less | $ 644,909 | |||
Maturing after one year through two years | 130,384 | |||
Maturing after two years through three years | 52,948 | |||
Maturing after three years through four years | 11,044 | |||
Maturing after four years through five years | 10,261 | |||
Maturing after five years | 1,508 | |||
Total certificates of deposit | [1] | $ 851,054 | $ 915,320 | |
Weighted Average Rate [Abstract] | ||||
Maturing in one year or less | 0.49% | |||
Maturing after one year through two years | 0.80% | |||
Maturing after two years through three years | 0.78% | |||
Maturing after three years through four years | 1.27% | |||
Maturing after four years through five years | 0.42% | |||
Maturing after five years | 0.88% | |||
Total certificates of deposit | 0.57% | |||
|
DEPOSITS DEPOSITS (Textual) (Details) - USD ($) $ in Millions |
Sep. 30, 2021 |
Dec. 31, 2020 |
---|---|---|
Banking and Thrift, Other Disclosures [Abstract] | ||
Time Deposits, at or Above FDIC Insurance Limit | $ 191.5 | $ 203.6 |
FAIR VALUE OF FINANCIAL INSTRUMENTS (Fair Value By Balance Sheet Location) (Details) - USD ($) $ in Thousands |
Sep. 30, 2021 |
Dec. 31, 2020 |
---|---|---|
Assets: | ||
Securities—trading | $ 26,875 | $ 24,980 |
Debt Securities, Available-for-sale | 3,446,575 | 2,322,593 |
Securities—held-to-maturity | 466,002 | 448,681 |
Securities purchased under agreements to resell | 300,000 | 0 |
Liabilities: | ||
FHLB advances at fair value | 50,000 | 150,000 |
Subordinated notes, net | 98,472 | 98,201 |
Carrying Value | ||
Assets: | ||
Cash and cash equivalents | 2,200,582 | 1,234,183 |
Securities—trading | 26,875 | 24,980 |
Debt Securities, Available-for-sale | 3,446,575 | 2,322,593 |
Securities purchased under agreements to resell | 300,000 | 0 |
Loans receivable held for sale | 63,678 | 243,795 |
Loans receivable | 9,218,384 | 9,870,982 |
FHLB stock | 12,000 | 16,358 |
Bank-owned life insurance | 192,950 | 191,830 |
Mortgage servicing rights | 15,753 | 15,223 |
Liabilities: | ||
Demand, interest checking and money market accounts | 10,539,628 | 9,253,494 |
Regular savings | 2,773,995 | 2,398,482 |
Certificates of deposit | 851,054 | 915,320 |
FHLB advances at fair value | 50,000 | 150,000 |
Other borrowings | 247,358 | 184,785 |
Subordinated notes, net | 98,201 | |
Junior subordinated debentures at fair value | 124,853 | 116,974 |
Estimated Fair Value | ||
Assets: | ||
Cash and cash equivalents | 2,200,582 | 1,234,183 |
Securities—trading | 26,875 | 24,980 |
Debt Securities, Available-for-sale | 3,446,575 | 2,322,593 |
Securities purchased under agreements to resell | 300,000 | 0 |
Loans receivable held for sale | 64,245 | 245,667 |
Loans receivable | 9,271,840 | 9,810,293 |
FHLB stock | 12,000 | 16,358 |
Bank-owned life insurance | 192,950 | 191,830 |
Mortgage servicing rights | 22,814 | 18,084 |
Liabilities: | ||
Demand, interest checking and money market accounts | 10,539,628 | 9,253,494 |
Regular savings | 2,773,995 | 2,398,482 |
Certificates of deposit | 851,780 | 919,920 |
FHLB advances at fair value | 50,629 | 152,779 |
Other borrowings | 247,358 | 184,785 |
Subordinated notes, net | 105,875 | 98,201 |
Junior subordinated debentures at fair value | 124,853 | 116,974 |
Interest rate swaps [Member] | Carrying Value | ||
Assets: | ||
Derivatives: | 25,627 | 39,066 |
Liabilities: | ||
Derivatives: | 15,550 | 22,336 |
Interest rate swaps [Member] | Estimated Fair Value | ||
Assets: | ||
Derivatives: | 25,627 | 39,066 |
Liabilities: | ||
Derivatives: | 15,550 | 22,336 |
Interest Rate Forward Sales Commitments [Member] | Carrying Value | ||
Assets: | ||
Derivatives: | 2,309 | 5,641 |
Liabilities: | ||
Derivatives: | 136 | 1,755 |
Interest Rate Forward Sales Commitments [Member] | Estimated Fair Value | ||
Assets: | ||
Derivatives: | 2,309 | 5,641 |
Liabilities: | ||
Derivatives: | 136 | 1,755 |
Fair Value, Inputs, Level 2 [Member] | Carrying Value | ||
Assets: | ||
Securities—held-to-maturity | 445,499 | 410,038 |
Fair Value, Inputs, Level 2 [Member] | Estimated Fair Value | ||
Assets: | ||
Securities—held-to-maturity | 463,913 | 436,882 |
Fair Value, Inputs, Level 3 [Member] | Carrying Value | ||
Assets: | ||
Securities—held-to-maturity | 2,313 | 11,769 |
Fair Value, Inputs, Level 3 [Member] | Estimated Fair Value | ||
Assets: | ||
Securities—held-to-maturity | $ 2,089 | $ 11,799 |
FAIR VALUE OF FINANCIAL INSTRUMENTS (Assets and Liabilities Measured on a Recurring Basis) (Details) - USD ($) $ in Thousands |
Sep. 30, 2021 |
Jun. 30, 2021 |
Dec. 31, 2020 |
Sep. 30, 2020 |
Jun. 30, 2020 |
Dec. 31, 2019 |
---|---|---|---|---|---|---|
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Securities—trading | $ 26,875 | $ 24,980 | ||||
Debt Securities, Available-for-sale | 3,446,575 | 2,322,593 | ||||
Advances from FHLB | 50,000 | 150,000 | ||||
Recurring [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Debt Securities, Available-for-sale | 3,446,575 | 2,322,593 | ||||
Total assets | 3,542,866 | 2,525,834 | ||||
Junior subordinated debentures net of unamortized deferred issuance costs at fair value | 124,853 | 116,974 | ||||
Total liabilities | 140,539 | 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 | 2,309 | 39,066 | ||||
Derivative liabilities | 136 | 22,336 | ||||
Recurring [Member] | Interest rate swaps [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Derivative assets | 25,627 | 5,641 | ||||
Derivative liabilities | 15,550 | 1,755 | ||||
Recurring [Member] | U.S. Government and agency obligations [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Debt Securities, Available-for-sale | 181,052 | 141,735 | ||||
Recurring [Member] | Municipal bonds | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Debt Securities, Available-for-sale | 310,391 | 303,518 | ||||
Recurring [Member] | Corporate bonds | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Debt Securities, Available-for-sale | 164,244 | 221,769 | ||||
Recurring [Member] | TPS and TRUP CDOs [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Securities—trading | 26,875 | 24,980 | ||||
Recurring [Member] | Mortgage-backed securities [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Debt Securities, Available-for-sale | 2,584,264 | 1,646,152 | ||||
Recurring [Member] | Asset-backed securities | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Debt Securities, Available-for-sale | 206,624 | 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 | 41,480 | 133,554 | ||||
Recurring [Member] | Level 1 [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Debt 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] | ||||||
Debt 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] | ||||||
Debt 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] | ||||||
Debt 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] | ||||||
Debt 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] | ||||||
Debt 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] | ||||||
Debt Securities, Available-for-sale | 3,446,575 | 2,322,593 | ||||
Total assets | 3,514,596 | 2,495,633 | ||||
Junior subordinated debentures net of unamortized deferred issuance costs at fair value | 0 | 0 | ||||
Total liabilities | 15,686 | 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 | 914 | 39,066 | ||||
Derivative liabilities | 136 | 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 | 25,627 | 420 | ||||
Derivative liabilities | 15,550 | 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] | ||||||
Debt Securities, Available-for-sale | 181,052 | 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] | ||||||
Debt Securities, Available-for-sale | 310,391 | 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] | ||||||
Debt Securities, Available-for-sale | 164,244 | 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] | ||||||
Debt Securities, Available-for-sale | 2,584,264 | 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] | ||||||
Debt Securities, Available-for-sale | 206,624 | 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 | 41,480 | 133,554 | ||||
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Debt Securities, Available-for-sale | 0 | 0 | ||||
Total assets | 28,270 | 30,201 | ||||
Junior subordinated debentures net of unamortized deferred issuance costs at fair value | 124,853 | 116,974 | ||||
Total liabilities | 124,853 | 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 | 1,395 | 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 | $ 2,574 | 5,221 | $ 8,454 | $ 5,816 | $ 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] | ||||||
Debt 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] | ||||||
Debt 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] | ||||||
Debt 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 | 26,875 | 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] | ||||||
Debt 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] | ||||||
Debt 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 INSTRUMENTS (Valuation Technique) (Details) - Fair Value, Inputs, Level 3 [Member] |
9 Months Ended | 12 Months Ended |
---|---|---|
Sep. 30, 2021 |
Dec. 31, 2020 |
|
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 | 3.63% | 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 | 60.91% | 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 | 86.43% | |
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 INSTRUMENTS (Unobservable Inputs Reconciliation) (Details) - USD ($) $ in Thousands |
3 Months Ended | 9 Months Ended | ||||||
---|---|---|---|---|---|---|---|---|
Sep. 30, 2021 |
Sep. 30, 2020 |
Sep. 30, 2021 |
Sep. 30, 2020 |
Jun. 30, 2021 |
Dec. 31, 2020 |
Jun. 30, 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 | $ 25,627 | $ 25,627 | $ 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 | (1,179) | $ 2,638 | (3,826) | $ 7,663 | ||||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||||||
Derivative assets | 0 | 8,454 | 0 | 8,454 | $ 2,574 | $ 5,221 | $ 5,816 | $ 791 |
Junior Subordinated Debt [Member] | ||||||||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||||||
Beginning balance | 117,520 | 109,613 | 116,974 | 119,304 | ||||
Liabilities (gains) losses | 7,333 | 208 | 7,879 | (9,483) | ||||
Ending balance | 124,853 | 109,821 | 124,853 | 109,821 | ||||
TPS Securities [Member] | ||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||||||
Beginning balance | 25,097 | 23,239 | ||||||
Assets gains (losses), including OTTI | 1,778 | 37 | ||||||
Ending balance | 26,875 | 23,276 | 26,875 | 23,276 | ||||
TPS and TRUP CDOs [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 | 1,895 | (2,360) | ||||||
Ending balance | $ 26,875 | $ 23,276 | $ 26,875 | $ 23,276 |
FAIR VALUE OF FINANCIAL INSTRUMENTS (Assets Measured on Nonrecurring Basis) (Details) - Nonrecurring [Member] - USD ($) $ in Thousands |
3 Months Ended | 9 Months Ended | |||
---|---|---|---|---|---|
Sep. 30, 2021 |
Sep. 30, 2020 |
Sep. 30, 2021 |
Sep. 30, 2020 |
Dec. 31, 2020 |
|
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Impaired loans | $ (3,054) | $ (3,054) | $ (3,482) | ||
REO | 852 | 852 | 816 | ||
Level 1 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Impaired loans | 0 | 0 | 0 | ||
REO | 0 | 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 | 0 | ||
REO | 0 | 0 | 0 | ||
Fair Value, Inputs, Level 3 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Impaired loans | (3,054) | (3,054) | (3,482) | ||
REO | 852 | 852 | $ 816 | ||
Gains (losses) resulting from nonrecurring fair value adjustments | 0 | $ (492) | (303) | $ (2,492) | |
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 | 0 | (492) | (303) | (2,492) | |
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 | $ 0 | $ 0 |
INCOME TAXES AND DEFERRED TAXES INCOME TAXES AND DEFERRED TAXES (Details) - USD ($) $ in Thousands |
3 Months Ended | 9 Months Ended | |||
---|---|---|---|---|---|
Sep. 30, 2021 |
Sep. 30, 2020 |
Sep. 30, 2021 |
Sep. 30, 2020 |
Dec. 31, 2020 |
|
Income Tax Disclosure [Abstract] | |||||
Tax credit investments | $ 47,783 | $ 47,783 | $ 33,528 | ||
Unfunded commitments—tax credit investments | 22,915 | 22,915 | $ 18,306 | ||
Tax credits and other tax benefits recognized | 1,114 | $ 981 | 3,341 | $ 2,943 | |
Tax credit amortization expense included in provision for income taxes | 915 | $ 849 | 2,745 | $ 2,507 | |
Unrecognized Tax Benefits | $ 450 | $ 450 |
CALCULATION OF WEIGHTED AVERAGE SHARES OUTSTANDING FOR EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands |
3 Months Ended | 9 Months Ended | |||||||
---|---|---|---|---|---|---|---|---|---|
Sep. 30, 2021 |
Jun. 30, 2021 |
Mar. 31, 2021 |
Dec. 31, 2020 |
Sep. 30, 2020 |
Jun. 30, 2020 |
Mar. 31, 2020 |
Sep. 30, 2021 |
Sep. 30, 2020 |
|
Earnings Per Share [Abstract] | |||||||||
Net income | $ 49,884 | $ 54,382 | $ 46,855 | $ 38,957 | $ 36,548 | $ 23,541 | $ 16,882 | $ 151,121 | $ 76,971 |
Basic weighted average shares outstanding | 34,446,510 | 35,193,109 | 34,716,914 | 35,285,567 | |||||
Dilutive effect of unvested restricted stock | 222,982 | 123,570 | 295,314 | 239,204 | |||||
Diluted weighted shares outstanding | 34,669,492 | 35,316,679 | 35,012,228 | 35,524,771 | |||||
Earnings per common share | |||||||||
Basic | $ 1.45 | $ 1.04 | $ 4.35 | $ 2.18 | |||||
Diluted | $ 1.44 | $ 1.03 | $ 4.32 | $ 2.17 |
STOCK-BASED COMPENSATION PLANS (Details) - USD ($) $ in Millions |
3 Months Ended | 9 Months Ended | 38 Months Ended | 86 Months Ended | ||||
---|---|---|---|---|---|---|---|---|
Sep. 30, 2021 |
Sep. 30, 2020 |
Sep. 30, 2021 |
Sep. 30, 2020 |
Jun. 30, 2021 |
Jun. 30, 2021 |
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 | $ 2.4 | $ 2.5 | $ 7.0 | $ 6.9 | ||||
Compensation Cost Not yet Recognized | $ 13.3 | $ 13.3 | ||||||
Compensation Cost Not yet Recognized, Period for Recognition | 31 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 | 302,167 | |||||||
Restricted stock grants, shares vested | 2,152 | |||||||
2014 Omnibus Incentive Plan [Member] | Restricted Stock Units (RSUs) [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Restricted stock granted | 406,689 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares | 113,906 | |||||||
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 | 481,361 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 394,416 | 394,416 |
COMMITMENTS AND CONTINGENCIES (Commitments Without Recorded Liability) (Details) - USD ($) |
3 Months Ended | 9 Months Ended | |||
---|---|---|---|---|---|
Sep. 30, 2021 |
Sep. 30, 2020 |
Sep. 30, 2021 |
Sep. 30, 2020 |
Dec. 31, 2020 |
|
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||||
Reserve for Unfunded Loan Commitments | $ 10,100,000 | $ 10,100,000 | $ 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 | 3,443,004,000 | $ 3,443,004,000 | 3,207,072,000 | ||
Financial Standby Letter of Credit [Member] | |||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||||
Contract or Notional Amount | 20,987,000 | 20,987,000 | 18,415,000 | ||
Loan Origination Commitments [Member] | |||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||||
Contract or Notional Amount | 106,989,000 | 106,989,000 | 101,426,000 | ||
Risk Participation Agreement [Member] | |||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||||
Contract or Notional Amount | 40,325,000 | 40,325,000 | 40,949,000 | ||
Loans Held for Sale Origination Commitments [Member] | |||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||||
Contract or Notional Amount | 139,578,000 | 139,578,000 | 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 | 55,641,000 | 55,641,000 | 79,414,000 | ||
Counterparty default losses on forward contracts | 0 | $ 0 | 0 | $ 0 | |
Commitments to Sell Mortgage Backed Securities [Member] | |||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||||
Contract or Notional Amount | 142,500,000 | 142,500,000 | 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 | 5,500,000 | 5,500,000 | 2,800,000 | ||
Other Commitments [Line Items] | |||||
Other Commitment | 5,500,000 | 5,500,000 | 2,800,000 | ||
Other Commitment, 2021 Agreement | 555,000 | 555,000 | |||
Other Commitment, 2021 Agreement | 555,000 | 555,000 | |||
Amount unfunded out of a total commitment to invest [Member] | |||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||||
Other Commitment | 4,500,000 | 4,500,000 | 7,200,000 | ||
Other Commitments [Line Items] | |||||
Other Commitment | 4,500,000 | 4,500,000 | $ 7,200,000 | ||
Other Commitment, 2021 Agreement | 3,900,000 | 3,900,000 | |||
Other Commitment, 2021 Agreement | 3,900,000 | 3,900,000 | |||
Commitments | |||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||||
Other Commitment | 4,500,000 | 4,500,000 | |||
Other Commitments [Line Items] | |||||
Other Commitment | $ 4,500,000 | $ 4,500,000 |
DERIVATIVES AND HEDGING (Derivatives Designated as Hedging, by Balance Sheet Location) (Details) - USD ($) $ in Thousands |
Sep. 30, 2021 |
Dec. 31, 2020 |
---|---|---|
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives, Fair Value | $ 25,627 | $ 39,066 |
Liability Derivatives, Fair Value | 15,550 | 22,336 |
Interest rate swaps [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives, Fair Value | 25,627 | 39,066 |
Liability Derivatives, Fair Value | 15,550 | 22,336 |
Interest rate swaps [Member] | Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives, Notional/Contract Amount | 63 | 338 |
Liability Derivatives, Notional/Contract Amount | 63 | 338 |
Interest rate swaps [Member] | Designated as Hedging Instrument [Member] | Loans Receivable [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives, Fair Value | 1 | 9 |
Interest rate swaps [Member] | Designated as Hedging Instrument [Member] | Other liabilities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Liability Derivatives, Fair Value | $ 1 | $ 9 |
DERIVATIVES AND HEDGING (Derivatives Not Designated as Hedging, by Balance Sheet Location) (Details) - USD ($) $ in Thousands |
Sep. 30, 2021 |
Dec. 31, 2020 |
---|---|---|
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives, Fair Value | $ 25,627 | $ 39,066 |
Liability Derivatives, Fair Value | 15,550 | 22,336 |
Interest rate swaps [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives, Fair Value | 25,627 | 39,066 |
Liability Derivatives, Fair Value | 15,550 | 22,336 |
Not Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives, Notional/Contract Amount | 765,764 | 671,564 |
Liability Derivatives, Notional/Contract Amount | 556,133 | 728,271 |
Not Designated as Hedging Instrument [Member] | Other assets [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives, Fair Value | 27,935 | 44,698 |
Not Designated as Hedging Instrument [Member] | Other liabilities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Liability Derivatives, Fair Value | 15,685 | 24,082 |
Not Designated as Hedging Instrument [Member] | Interest rate swaps [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives, Notional/Contract Amount | 481,637 | 451,760 |
Liability Derivatives, Notional/Contract Amount | 481,637 | 451,760 |
Not Designated as Hedging Instrument [Member] | Interest rate swaps [Member] | Other assets [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives, Fair Value | 25,626 | 39,057 |
Not Designated as Hedging Instrument [Member] | Interest rate swaps [Member] | Loans Receivable [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives, Fair Value | 177 | 231 |
Not Designated as Hedging Instrument [Member] | Interest rate swaps [Member] | Other liabilities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Liability Derivatives, Fair Value | 15,549 | 22,327 |
Not Designated as Hedging Instrument [Member] | Mortgage loan commitments [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives, Notional/Contract Amount | 109,986 | 140,390 |
Liability Derivatives, Notional/Contract Amount | 50,496 | 72,511 |
Not Designated as Hedging Instrument [Member] | Mortgage loan commitments [Member] | Other assets [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives, Fair Value | 1,395 | 5,221 |
Not Designated as Hedging Instrument [Member] | Mortgage loan commitments [Member] | Other liabilities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Liability Derivatives, Fair Value | 49 | 199 |
Not Designated as Hedging Instrument [Member] | Forward Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives, Notional/Contract Amount | 174,141 | 79,414 |
Liability Derivatives, Notional/Contract Amount | 24,000 | 204,000 |
Not Designated as Hedging Instrument [Member] | Forward Contracts [Member] | Other assets [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives, Fair Value | 914 | 420 |
Not Designated as Hedging Instrument [Member] | Forward Contracts [Member] | Other liabilities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Liability Derivatives, Fair Value | $ 87 | $ 1,556 |
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 | 9 Months Ended | ||
---|---|---|---|---|
Sep. 30, 2021 |
Sep. 30, 2020 |
Sep. 30, 2021 |
Sep. 30, 2020 |
|
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain (loss) recognized in income, net | $ (314) | $ 2,897 | $ (1,822) | $ 6,885 |
Mortgage loan commitments [Member] | Mortgage banking operations [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain (loss) recognized in income, net | (1,179) | 2,639 | (3,826) | 7,664 |
Forward sales contracts [Member] | Mortgage banking operations [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain (loss) recognized in income, net | $ 865 | $ 258 | $ 2,004 | $ (779) |
DERIVATIVES AND HEDGING (Narrative) (Details) - USD ($) $ in Millions |
Sep. 30, 2021 |
Dec. 31, 2020 |
---|---|---|
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||
Derivative net liability position | $ 29.2 | $ 48.6 |
Collateral posted | 50.8 | 47.1 |
Offsetting Assets and Liabilities [Line Items] | ||
Derivative Liabilities, Amounts offset in the Statement of Financial Condition | $ (10.3) | |
Interest rate swaps [Member] | ||
Offsetting Assets and Liabilities [Line Items] | ||
Derivative Liabilities, Amounts offset in the Statement of Financial Condition | $ (16.9) |
DERIVATIVES AND HEDGING (Derivative Offsetting) (Details) - USD ($) $ in Thousands |
Sep. 30, 2021 |
Dec. 31, 2020 |
---|---|---|
Offsetting Derivative Assets [Abstract] | ||
Derivative Assets, Gross Amounts Recognized | $ 25,627 | $ 39,066 |
Derivative Assets, Amounts offsett in the Statement of Financial Condition | 0 | 0 |
Derivative Assets, Net Amounts in the Statement of Financial Condition | 25,627 | 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 | 25,627 | 39,066 |
Offsetting Derivative Liabilities [Abstract] | ||
Derivative Liabilities, Gross Amounts Recognized | 15,550 | 22,336 |
Derivative Liabilities, Amounts offset in the Statement of Financial Condition | (10,300) | |
Derivative Liabilities, Net Amounts of the Statement of Financial Condition | 15,550 | 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 | (12,446) | (22,220) |
Derivative Liabilities, Net Amount | 3,104 | 116 |
Interest rate swaps [Member] | ||
Offsetting Derivative Assets [Abstract] | ||
Derivative Assets, Gross Amounts Recognized | 25,627 | 39,066 |
Derivative Assets, Amounts offsett in the Statement of Financial Condition | 0 | 0 |
Derivative Assets, Net Amounts in the Statement of Financial Condition | 25,627 | 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 | 25,627 | 39,066 |
Offsetting Derivative Liabilities [Abstract] | ||
Derivative Liabilities, Gross Amounts Recognized | 15,550 | 22,336 |
Derivative Liabilities, Amounts offset in the Statement of Financial Condition | (16,900) | |
Derivative Liabilities, Net Amounts of the Statement of Financial Condition | 15,550 | 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 | (12,446) | (22,220) |
Derivative Liabilities, Net Amount | $ 3,104 | $ 116 |
REVENUE FROM CONTRACTS WITH CUSTOMERS (Details) - USD ($) $ in Thousands |
3 Months Ended | 9 Months Ended | ||
---|---|---|---|---|
Sep. 30, 2021 |
Sep. 30, 2020 |
Sep. 30, 2021 |
Sep. 30, 2020 |
|
Disaggregation of Revenue [Line Items] | ||||
Debit and credit card interchange fees | $ 6,032 | $ 5,207 | $ 17,265 | $ 14,762 |
Debit and credit card expense | 2,655 | 2,134 | (7,819) | (6,272) |
Merchant services expense | 3,439 | 2,839 | (8,964) | (7,378) |
Other service charges | 1,152 | 1,020 | 3,801 | 3,458 |
Total deposit fees and other service charges | 10,457 | 8,742 | 29,154 | 26,091 |
Deposit service charges | ||||
Disaggregation of Revenue [Line Items] | ||||
Deposit service charges | 5,128 | 3,904 | 13,735 | 12,269 |
Merchant services income | ||||
Disaggregation of Revenue [Line Items] | ||||
Deposit service charges | $ 4,239 | $ 3,584 | $ 11,136 | $ 9,252 |
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