XML 27 R17.htm IDEA: XBRL DOCUMENT
v3.22.1

Commitments and Contingencies | 3 Months Ended
--- | ---
Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract] |
Commitments and Contingencies | Commitments and contingencies: Some financial instruments, such as loan commitments, credit lines, letters of credit, and overdraft protection, are issued to meet customer financing needs. These are agreements to provide credit or to support the credit of others, as long as conditions established in the contract are met, and usually have expiration dates. Commitments may expire without being used. Off-balance sheet risk of credit loss exists up to the face amount of these instruments, although material losses are not anticipated. The same credit policies are used to make such commitments as are used for loans, including obtaining collateral at exercise of the commitment.
|  | March 31, |  | December 31,
|  | 2022 |  |  | 2021 |
Commitments to extend credit, excluding interest rate lock commitments |  | $ | 3,202,550 |  |  | $ | 3,106,594 |
Letters of credit |  | 77,877 |  |  | 77,427 |
Balance at end of period |  | $ | 3,280,427 |  |  | $ | 3,184,021 |
As of March 31, 2022 and December 31, 2021, loan commitments included above with floating interest rates totaled $2.40 billion and $2.26 billion, respectively. The Company estimates expected credit losses on off-balance sheet loan commitments that are not accounted for as derivatives under the CECL methodology. When applying this methodology, the Company considers the likelihood that funding will occur, the contractual period of exposure to credit loss, the risk of loss, historical loss experience, and current conditions along with expectations of future economic conditions. The table below presents activity within the allowance for credit losses on unfunded commitments included in accrued expenses and other liabilities on the Company's consolidated balance sheets for the three months ended March 31, 2022 and 2021:
|  |  |  | Three Months Ended March 31,
|  |  |  |  | 2022 |  | 2021 |
Balance at beginning of period |  |  |  |  | $ | 14,380 |  | $ | 16,378 |
Provision for credit losses on unfunded commitments |  |  |  |  | 1,882 |  | (2,222) |
Balance at end of period |  |  |  |  | $ | 16,262 |  | $ | 14,156 |
In connection with the sale of mortgage loans to third party investors, the Company makes usual and customary representations and warranties as to the propriety of its origination activities. Occasionally, the investors require the Company to repurchase loans sold to them under the terms of the warranties. When this happens, the loans are recorded at fair value with a corresponding charge to a valuation reserve. The total principal amount of loans repurchased (or indemnified for) was $1,348 and $708 for the three months ended March 31, 2022 and 2021, respectively. The Company has established a reserve associated with loan repurchases. The following table summarizes the activity in the repurchase reserve included in accrued expenses and other liabilities on the Company's consolidated balance sheets:
|  |  |  | Three Months Ended March 31,
|  |  |  |  | 2022 |  | 2021 |  |
Balance at beginning of period |  |  |  |  | $ | 4,802 |  | $ | 5,928 |  |
Provision for loan repurchases or indemnifications |  |  |  |  | (389) |  | 440 |  |
Losses on loans repurchased or indemnified |  |  |  |  | (96) |  | (84) |  |
Balance at end of period |  |  |  |  | $ | 4,317 |  | $ | 6,284 |  |

X
- References No definition available. + Details
Name: | us-gaap_CommitmentsAndContingenciesDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for commitments and contingencies. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 450 -URI http://asc.fasb.org/topic&trid=2127136 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 440 -URI http://asc.fasb.org/topic&trid=2144648 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 954 -SubTopic 440 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6491277&loc=d3e6429-115629 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 440 -SubTopic 10 -Section 50 -Paragraph 4 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=123406679&loc=d3e25336-109308 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 440 -SubTopic 10 -Section 50 -Paragraph 4 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123406679&loc=d3e25336-109308 + Details
Name: | us-gaap_CommitmentsAndContingenciesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration