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Summary of Significant Accounting Policies (Tables) | 12 Months Ended
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Dec. 31, 2022
Accounting Policies [Abstract] |
Schedule of Useful Lives for Premises and Equipment | The ranges of estimated useful lives for the principal classes of assets are as follows:
Premises and Equipment |  | Useful Lives
Buildings |  | 25 years
Furniture, fixtures and equipment, and building improvements |  | 3 to 7 years
Leasehold improvements |  | Term of lease or useful life, whichever is shorter
Schedule of New Accounting Pronouncements Adopted and Recent Accounting Pronouncements | Accounting Pronouncements Adopted in 2022
Standard | Required Date of Adoption | Description | Effect on Financial Statements |  |  |
ASU 2020-06, Debt — Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging — Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity | Effective for fiscal years beginning after December 15, 2021. | ASU 2020-06 simplifies the accounting for convertible instruments and its application of the derivatives scope exception for contracts in its own equity by (1) eliminating accounting models for convertible financial instruments with cash conversion and beneficial conversion features, (2) removing certain required settlement conditions for a contract in an entity’s own equity to qualify for the derivative scope exception, and (3) simplifying the method used for computing EPS. | The Company adopted this standard on January 1, 2022. The adoption of this guidance did not have an impact on the Company’s Consolidated Financial Statements. |  |  |
ASU 2021-04, Earnings Per Share (Topic 260), Debt — Modification and Extinguishments (Subtopic 470-50), Compensation — Stock Compensation (Topic 718), and Derivatives and Hedging — Contracts in Entity’s Own Equity (Subtopic 815-40): Issuer’s Accounting for Certain Modification or Exchange of Freestanding Equity-Classified Written Call Options | Effective for fiscal years beginning after December 15, 2021. | ASU 2021-04 provides clarification and reduces diversity in an issuer’s accounting for modifications or exchanges of freestanding equity-classified written call options (for example, warrants) that remain equity classified after modification or exchange. | The Company adopted this standard on January 1, 2022. The adoption of this guidance did not have an impact on the Company’s Consolidated Financial Statements. |  |  |
ASU 2021-05, Lessors — Certain Leases with Variable Lease Payments | Effective for fiscal years beginning after December 15, 2021. | ASU 2021-05 requires lessors to classify leases as operating leases if they have variable lease payments that do not depend on an index or rate and would have selling losses if they were classified as sales-type or direct financing leases. | The Company adopted this standard on January 1, 2022. The adoption of this guidance did not have an impact on the Company’s Consolidated Financial Statements. |  |  |
ASU 2021-10, Government Assistance (Topic 832) — Disclosures by Business Entities about Government Assistance | Effective for fiscal years beginning after December 15, 2021. | ASU 2021-10 increases the transparency of government assistance including the disclosure of (1) the types of assistance, (2) an entity’s accounting for the assistance, and (3) the effect of the assistance on an entity’s financial statements. | The Company adopted this standard on January 1, 2022. The adoption of this guidance did not have an impact on the Company’s Consolidated Financial Statements. |  |  |
ASU 2022-06, Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848 | Effective for all entities from the date of issuance on December 21, 2022. | ASU 2022-06 extends the sunset date of ASC Topic 848, “Reference Rate Reform” from December 31, 2022 to December 31, 2024, after which entities will no longer be permitted to apply the relief in Topic 848. | The Company adopted this guidance upon issuance of the ASU 2022-06. The adoption of this guidance has not and is currently not expected to have a material impact on the Company’s Financial Statements. The Company continues to evaluate transactions or contract modifications occurring as a result of reference rate reform and determine whether to apply the optional guidance on an ongoing basis. |  |  |
Accounting Pronouncements Adopted in 2023
Standard | Required Date of Adoption | Description | Effect on Financial Statements
ASU 2022-02, Financial Instruments - Credit Losses (Topic 326): Troubled Debt Restructurings and the Vintage Disclosures | January 1, 2023 | ASU 2022-02 eliminates the troubled debt restructuring (“TDRs”) accounting model for creditors and instead requires companies to apply the loan refinancing and restructuring guidance to determine whether a modification made to a borrower results in a new loan or a continuation of an existing loan. In addition, companies are no longer required to use a discounted cash flow method to measure the allowance for credit losses for certain TDRs and instead allows for the use of an expected loss approach for all loans. The guidance also introduces new disclosure requirements related to restructuring of financing receivables made to borrowers experiencing financial difficulty, and amends vintage disclosures to require current-period gross write-off by year of origination. The guidance should be applied on a prospective basis except for amendments related to recognition and measurement of TDRs, where a modified retrospective transition method is optional. | The Company adopted ASU 2022-02 using a prospective basis except for the guidance related to the recognition and measurement of TDRs, where it was adopted on a modified retrospective transition method. The adoption of this guidance did not have a material impact on the Company’s Consolidated Financial Statements.

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- Definition Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229 + Details
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