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Note 6 - Loans and the Allowance for Credit Losses (Tables)
9 Months Ended
Sep. 30, 2024
Notes Tables  
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]
  September 30, 2024  December 31, 2023 
  

(dollars in thousands)

 

Commercial

 $1,513,991  $1,578,730 

Commercial real estate

  5,735,170   5,895,545 

Commercial construction

  616,087   620,496 

Residential real estate

  250,249   256,041 

Consumer

  835   1,029 

Gross loans

  8,116,332   8,351,841 

Net deferred loan fees

  (4,356)  (6,696)

Total loans receivable

 $8,111,976  $8,345,145 
Financing Receivable, Nonaccrual [Table Text Block]
  

September 30, 2024

 
  

Nonaccrual loans with ACL

  

Nonaccrual loans without ACL

  

Total nonaccrual loans

 
  

(dollars in thousands)

 

Commercial

 $1,244  $11,449  $12,693 

Commercial real estate

  1,374   31,845   33,219 

Commercial construction

  -   2,204   2,204 

Residential real estate

  571   2,613   3,184 

Total

 $3,189  $48,111  $51,300 
  

December 31, 2023

 
  Nonaccrual loans with ACL  Nonaccrual loans without ACL  Total nonaccrual loans 
  

(dollars in thousands)

 

Commercial

 $1,763  $11,064  $12,827 

Commercial real estate

  8,013   28,179   36,192 

Residential real estate

  1,033   2,472   3,505 

Total

 $10,809  $41,715  $52,524 
Financing Receivable Origination And Risk Designation [Table Text Block]
  

Term loans amortized cost basis by origination year

       
  

2024

  

2023

  

2022

  

2021

  

2020

  

Prior

  

Revolving Loans

  

Total Gross Loans

 

Commercial

                                

Pass

 $28,025  $156,525  $194,865  $275,437  $31,253  $115,199  $654,332  $1,455,636 

Special mention

  -   -   10,854   2,675   1,527   9,600   19,142   43,798 

Substandard

  -   250   815   224   -   12,568   700   14,557 

Doubtful

  -   -   -   -   -   -   -   - 

Total commercial

 $28,025  $156,775  $206,534  $278,336  $32,780  $137,367  $674,174  $1,513,991 

YTD gross charge-offs

 $-  $-  $-  $48  $-  $256  $1,918  $2,223 
                                 

Commercial Real Estate

                                

Pass

 $165,564  $272,510  $1,527,540  $1,532,854  $351,278  $1,393,978  $386,453  $5,630,177 

Special mention

  -   -   -   -   -   64,707   -   64,707 

Substandard

  -   -   -   1,857   1,762   36,667   -   40,286 

Doubtful

  -   -   -   -   -   -   -   - 

Total commercial real estate

 $165,564  $272,510  $1,527,540  $1,534,711  $353,040  $1,495,352  $386,453  $5,735,170 

YTD gross charge-offs

 $-  $-  $-  $-  $-  $8,117  $-  $8,116 
                                 

Commercial Construction

                                

Pass

 $14,250  $200  $2,137  $9,034  $6,236  $10,500  $562,826  $605,183 

Special mention

  -   -   -   -   -   -   8,700   8,700 

Substandard

  -   -   -   -   -   -   2,204   2,204 

Doubtful

  -   -   -   -   -   -   -   - 

Total commercial construction

 $14,250  $200  $2,137  $9,034  $6,236  $10,500  $573,730  $616,087 

YTD gross charge-offs

 $-  $-  $-  $-  $-  $-  $-  $- 
                                 

Residential

                                

Pass

 $12,353  $15,022  $40,374  $21,523  $17,605  $101,765  $34,999  $243,641 

Special mention

  -   -   -   -   -   639   2,785   3,424 

Substandard

  -   -   632   531   1,175   610   236   3,184 

Doubtful

  -   -   -   -   -   -   -   - 

Total residential real estate

 $12,353  $15,022  $41,006  $22,054  $18,780  $103,014  $38,020  $250,249 

YTD gross charge-offs

 $-  $-  $-  $-  $-  $-  $-  $- 
                                 

Consumer

                                

Pass

 $716  $26  $2  $-  $-  $-  $91  $835 

Special mention

  -   -   -   -   -   -   -   - 

Substandard

  -   -   -   -   -   -   -   - 

Doubtful

  -   -   -   -   -   -   -   - 

Total consumer

 $716  $26  $2  $-  $-  $-  $91  $835 

YTD gross charge-offs

 $-  $-  $-  $-  $-  $-  $-  $- 
                                 

Total

                                

Pass

 $220,908  $444,283  $1,764,918  $1,838,848  $406,372  $1,621,442  $1,638,701  $7,935,472 

Special mention

  -   -   10,854   2,675   1,527   74,946   30,627   120,629 

Substandard

  -   250   1,447   2,612   2,937   49,845   3,140   60,231 

Doubtful

  -   -   -   -   -   -   -   - 

Grand total

 $220,908  $444,533  $1,777,219  $1,844,135  $410,836  $1,746,233  $1,672,468  $8,116,332 

YTD gross charge-offs

 $-  $-  $-  $48  $-  $8,373  $1,918  $10,339 
  

Term loans amortized cost basis by origination year

       
  

2023

  

2022

  

2021

  

2020

  2019  

Prior

  

Revolving Loans

  

Total Gross Loans

 

Commercial

                                

Pass

 $178,582  $252,151  $265,705  $38,909  $13,726  $112,145  $684,779  $1,545,997 

Special mention

  -   10,620   -   -   562   3,417   3,199   17,798 

Substandard

  250   439   241   1   612   11,695   1,697   14,935 

Doubtful

  -   -   -   -   -   -   -   - 

Total commercial

 $178,832  $263,210  $265,946  $38,910  $14,900  $127,257  $689,675  $1,578,730 

YTD gross charge-offs

 $54  $3,397  $-  $-  $280  $11,094  $63  $14,888 
                                 

Commercial real estate

                                

Pass

 $248,660  $1,561,841  $1,585,109  $352,445  $353,391  $1,232,240  $497,588  $5,831,274 

Special mention

  -   -   -   -   -   24,202   -   24,202 

Substandard

  -   -   1,888   -   1,255   20,141   16,785   40,069 

Doubtful

  -   -   -   -   -   -   -   - 

Total commercial real estate

 $248,660  $1,561,841  $1,586,997  $352,445  $354,646  $1,276,583  $514,373  $5,895,545 

YTD gross charge-offs

 $-  $-  $-  $-  $-  $2,142  $-  $2,142 
                                 

Commercial construction

                                

Pass

 $582  $5,463  $15,645  $6,236  $-  $-  $583,870  $611,796 

Special mention

  -   -   -   -   -   -   8,700   8,700 

Substandard

  -   -   -   -   -   -   -   - 

Doubtful

  -   -   -   -   -   -   -   - 

Total commercial construction

 $582  $5,463  $15,645  $6,236  $-  $-  $592,570  $620,496 

YTD gross charge-offs

 $-  $-  $-  $-  $-  $-  $-  $- 
                                 

Residential real estate

                                

Pass

 $15,455  $42,830  $21,987  $21,704  $19,896  $91,114  $36,082  $249,068 

Special mention

  -   -   -   -   -   651   2,817   3,468 

Substandard

  -   -   555   -   -   2,144   806   3,505 

Doubtful

  -   -   -   -   -   -   -   - 

Total residential real estate

 $15,455  $42,830  $22,542  $21,704  $19,896  $93,909  $39,705  $256,041 

YTD gross charge-offs

 $-  $-  $-  $-  $-  $-  $18  $18 
                                 

Consumer

                                

Pass

 $849  $83  $-  $5  $-  $-  $92  $1,029 

Special mention

  -   -   -   -   -   -   -   - 

Substandard

  -   -   -   -   -   -   -   - 

Doubtful

  -   -   -   -   -   -   -   - 

Total consumer

 $849  $83  $-  $5  $-  $-  $92  $1,029 

YTD gross charge-offs

 $-  $-  $-  $-  $-  $-  $1  $1 
                                 

Total

                                

Pass

 $444,128  $1,862,368  $1,888,446  $419,299  $387,013  $1,435,499  $1,802,411  $8,239,164 

Special mention

  -   10,620   -   -   562   28,270   14,716   54,168 

Substandard

  250   439   2,684   1   1,867   33,980   19,288   58,509 

Doubtful

  -   -   -   -   -   -   -   - 

Grand total

 $444,378  $1,873,427  $1,891,130  $419,300  $389,442  $1,497,749  $1,836,415  $8,351,841 

YTD gross charge-offs

 $54  $3,397  $-  $-  $280  $13,236  $82  $17,049 
Financing Receivable, Collateral Dependent [Table Text Block]
  

September 30, 2024

 
  Real Estate  

Other

  

Total

 
  

(dollars in thousands)

 

Commercial

 $2,369  $9,325  $11,694 

Commercial real estate

  33,219   -   33,219 

Commercial construction

  2,204   -   2,204 

Residential real estate

  2,613   -   2,613 

Total

 $40,405  $9,325  $49,730 
  

December 31, 2023

 
  Real Estate  

Other

  

Total

 
  

(dollars in thousands)

 

Commercial

 $4,949  $10,387  $15,336 

Commercial real estate

  39,986   -   39,986 

Commercial construction

  8,700   -   8,700 

Residential real estate

  5,941   -   5,941 

Total

 $59,576  $10,387  $69,963 
Financing Receivable, Past Due [Table Text Block]
  

September 30, 2024

 
  

30-59 Days Past Due

  

60-89 Days Past Due

  

90 Days or Greater Past Due and Still Accruing

  

Nonaccrual

  

Total Past Due and Nonaccrual

  

Current

  

Gross Loans

 
  

(dollars in thousands)

 

Commercial

 $5,047  $-  $-  $12,693  $17,740  $1,496,251  $1,513,991 

Commercial real estate

  -   7,870   3,165   33,219   44,254   5,690,916   5,735,170 

Commercial construction

  -   -   -   2,204   2,204   613,883   616,087 

Residential real estate

  -   -   -   3,184   3,184   247,065   250,249 

Consumer

  72   -   -   -   72   763   835 

Total

 $5,119  $7,870  $3,165  $51,300  $67,454  $8,048,878  $8,116,332 
  

December 31, 2023

 
  

30-59 Days Past Due

  

60-89 Days Past Due

  

90 Days or Greater Past Due and Still Accruing

  

Nonaccrual

  

Total Past Due and Nonaccrual

  

Current

  

Gross Loans

 
  

(dollars in thousands)

 

Commercial

 $555  $-  $-  $12,827  $13,382  $1,565,348  $1,578,730 

Commercial real estate

  527   -   -   36,192   36,719   5,858,826   5,895,545 

Commercial construction

  -   23,600   -   -   23,600   596,896   620,496 

Residential real estate

  275   226   -   3,505   4,006   252,035   256,041 

Consumer

  -   -   -   -   -   1,029   1,029 

Total

 $1,357  $23,826  $-  $52,524  $77,707  $8,274,134  $8,351,841 
Schedule of Evaluation of Impairment on Financing Receivables [Table Text Block]
  

September 30, 2024

 
  

Commercial

  Commercial real estate  

Commercial construction

  Residential real estate  

Consumer

  

Total

 
  

(dollars in thousands)

 

Allowance for credit losses - loans

                        

Individually analyzed

 $333  $1,374  $-  $-  $-  $1,707 

Collectively evaluated

  19,238   52,699   4,165   4,436   3   80,541 

Acquired with deteriorated credit quality

  246   -   -   -   -   246 

Total

 $19,817  $54,073  $4,165  $4,436  $3  $82,494 
                         

Gross loans

                        

Individually analyzed

 $12,027  $33,219  $2,204  $2,613  $-  $50,063 

Collectively evaluated

  1,501,509   5,701,951   613,883   247,636   835   8,065,814 

Acquired with deteriorated credit quality

  455   -   -   -   -   455 

Total

 $1,513,991  $5,735,170  $616,087  $250,249  $835  $8,116,332 
  

December 31, 2023

 
  

Commercial

  

Commercial real estate

  

Commercial construction

  

Residential real estate

  

Consumer

  

Total

 
  

(dollars in thousands)

 

Allowance for credit losses - loans

                        

Individually analyzed

 $-  $941  $-  $-  $-  $941 

Collectively evaluated

  20,215   51,337   4,739   4,320   5   80,616 

Acquired with deteriorated credit quality

  417   -   -   -   -   417 

Total

 $20,632  $52,278  $4,739  $4,320  $5  $81,974 
                         

Gross loans

                        

Individually analyzed

 $15,336  $39,986  $8,700  $5,941  $-  $69,963 

Collectively evaluated

  1,562,910   5,855,559   611,796   250,100   1,029   8,281,394 

Acquired with deteriorated credit quality

  484   -   -   -   -   484 

Total

 $1,578,730  $5,895,545  $620,496  $256,041  $1,029  $8,351,841 
Financing Receivable, Allowance for Credit Loss [Table Text Block]
  

Three Months Ended September 30, 2024

 
  

Commercial

  

Commercial real estate

  

Commercial construction

  

Residential real estate

  

Consumer

  

Total

 
  

(dollars in thousands)

 

Balance as of June 30, 2024

 $20,020  $53,098  $4,472  $4,484  $3  $82,077 

Charge-offs

  (1,923)  (1,636)  -   -   -   (3,559)

Recoveries

  22   31   -   -   -   53 

Provision for (reversal of) credit losses - loans

  1,698   2,580   (307)  (48)  -   3,923 

Balance as of September 30, 2024

 $19,817  $54,073  $4,165  $4,436  $3  $82,494 
  

Nine Months Ended September 30, 2024

 
  

Commercial

  

Commercial real estate

  

Commercial construction

  

Residential real estate

  

Consumer

  

Total

 
  

(dollars in thousands)

 

Balance as of December 31, 2023

 $20,632  $52,278  $4,739  $4,320  $5  $81,974 

Charge-offs

  (2,223)  (8,116)  -   -   -   (10,339)

Recoveries

  369   31   -   -   -   400 

Provision for (reversal of) credit losses - loans

  1,039   9,880   (574)  116   (2)  10,459 

Balance as of September 30, 2024

 $19,817  $54,073  $4,165  $4,436  $3  $82,494 
  

Three Months Ended September 30, 2023

 
  

Commercial

  

Commercial real estate

  

Commercial construction

  

Residential real estate

  

Consumer

  

Total

 
  

(dollars in thousands)

 

Balance as of June 30, 2023

 $29,326  $52,509  $3,546  $3,819  $5  $89,205 

Charge-offs

  (2,250)  (237)  -   -   -   (2,487)

Recoveries

  -   -   -   1   7   8 

Provision for (reversal of) credit losses - loans

  775   461   363   (88)  (7)  1,504 

Balance as of September 30, 2023

 $27,851  $52,733  $3,909  $3,732  $5  $88,230 
  

Nine Months Ended September 30, 2023

 
  

Commercial

  

Commercial real estate

  

Commercial construction

  

Residential real estate

  

Consumer

  

Total

 
  

(dollars in thousands)

 

Balance as of December 31, 2022

 $28,903  $53,742  $3,718  $4,143  $7  $90,513 

Charge-offs

  (6,117)  (1,954)  -   (18)  -   (8,089)

Recoveries

  9   -   -   69   7   85 

Provision for (reversal of) credit losses - loans

  5,056   945   191   (462)  (9)  5,721 

Balance as of September 30, 2023

 $27,851  $52,733  $3,909  $3,732  $5  $88,230 
Financing Receivable, Modified [Table Text Block]
  

Three Months Ended

 
  

September 30, 2024

 
  

Term Extension

  

Payment Deferral

  

Interest Rate Reduction

  

Total

  

% of Portfolio Loan Segment

 
  

(dollars in thousands)

     

Commercial

 $6,491  $-  $-  $6,491   0.43%

Commercial real estate

  -   -   63,804   63,804   1.11%

Total

 $6,491  $-  $63,804  $70,295   0.97%
  

Nine Months Ended

 
  

September 30, 2024

 
  

Term Extension

  

Payment Deferral

  

Interest Rate Reduction

  

Total

  

% of Portfolio Loan Segment

 
  

(dollars in thousands)

     

Commercial

 $17,641  $126  $-  $17,767   1.17%

Commercial real estate

  -   -   63,804   63,804   1.11%

Residential real estate

  1,417   -   -   1,417   0.57%

Total

 $19,058  $126  $63,804  $82,988   1.11%
  

Three Months Ended

 
  

September 30, 2023

 
  

Term Extension

  

Payment Deferral

  

Interest Rate Reduction

  

Total

  

% of Portfolio Loan Segment

 
  

(dollars in thousands)

     

Commercial

 $-  $-  $-  $-   0.00%

Commercial real estate

  211         211   0.00%

Total

 $211  $-  $-  $211   0.00%
  

Nine Months Ended

 
  

September 30, 2023

 
  

Term Extension

  

Payment Deferral

  

Interest Rate Reduction

  

Total

  

% of Portfolio Loan Segment

 
  

(dollars in thousands)

     

Commercial

 $44  $-  $-  $44   0.00%

Commercial real estate

  211   -   -   211   0.00%

Total

 $255  $-  $-  $255   0.00%
Financing Receivable, Modified, Past Due [Table Text Block]
  

September 30, 2024

 
  

Current

  

30-89 Days Past Due

  

90 Days or Greater Past Due and Still Accruing

 
  

(dollars in thousands)

 

Commercial

 $28,084  $-  $- 

Commercial real estate

  71,285   -   - 

Residential real estate

  1,417   -   - 

Total

 $100,786  $-  $- 
Schedule of Allowance for Credit Losses on Unfunded Commitments [Table Text Block]
  

Three Months Ended

  

Three Months Ended

 
  

September 30,

  

September 30,

 
  

2024

  

2023

 
  

(dollars in thousands)

 

Balance at beginning of period

 $2,775  $2,819 

Reversal of allowance for credit losses - unfunded commitments

  (123)  (4)

Balance at end of period

 $2,652  $2,815 
  

Nine Months Ended

  

Nine Months Ended

 
  

September 30,

  

September 30,

 
  

2024

  

2023

 
  

(dollars in thousands)

 

Balance at beginning of period

 $2,811  $3,036 

Reversal of allowance for credit losses - unfunded commitments

  (159)  (221)

Balance at end of period

 $2,652  $2,815 
Schedule of Provision for (Reversal of) Credit Losses [Table Text Block]
  

Three Months Ended

  

Three Months Ended

 
  

September 30,

  

September 30,

 
  

2024

  

2023

 
  

(dollars in thousands)

 

Provision for credit losses – loans

 $3,923  $1,504 

Reversal of credit losses - unfunded commitments

  (123)  (4)

Provision for credit losses

 $3,800  $1,500 
  

Nine Months Ended

  

Nine Months Ended

 
  

September 30,

  

September 30,

 
  

2024

  

2023

 
  

(dollars in thousands)

 

Provision for credit losses – loans

 $10,459  $5,721 

Reversal of credit losses - unfunded commitments

  (159)  (221)

Provision for credit losses

 $10,300  $5,500