XML 36 R24.htm IDEA: XBRL DOCUMENT
v3.24.1.u1

CAPITAL RATIOS AND SHAREHOLDERS' EQUITY (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2024
CAPITAL RATIOS AND SHAREHOLDERS' EQUITY |
Schedule of Actual and Required Capital Ratios | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | March 31, 2024 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Minimum Regulatory | ​
​ | ​ | Actual | ​ | Capital Requirements | ​
(in thousands, except ratios) |  | Amount |  | Ratio | ​ | Amount |  | Ratio | ​
Company (consolidated) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | ​
Total capital to risk-weighted assets | ​ | $ | 456,781 | ​ | 14.36 | % | ​ | $ | 254,393 | ​ | 8.00 | %
Common equity tier 1 capital to risk-weighted assets | ​ |  | 364,168 | ​ | 11.45 | ​ | ​ |  | 143,097 | ​ | 4.50 | ​
Tier 1 capital to risk-weighted assets | ​ |  | 384,788 | ​ | 12.10 | ​ | ​ |  | 190,795 | ​ | 6.00 | ​
Tier 1 capital to average assets (leverage ratio) | ​ |  | 384,788 | ​ | 9.92 | ​ | ​ |  | 155,105 | ​ | 4.00 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Bank | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total capital to risk-weighted assets | ​ | $ | 447,860 | ​ | 14.10 | % | ​ | $ | 254,134 | ​ | 8.00 | %
Common equity tier 1 capital to risk-weighted assets | ​ |  | 415,867 | ​ | 13.09 | ​ | ​ |  | 142,950 | ​ | 4.50 | ​
Tier 1 capital to risk-weighted assets | ​ |  | 415,867 | ​ | 13.09 | ​ | ​ |  | 190,600 | ​ | 6.00 | ​
Tier 1 capital to average assets (leverage ratio) | ​ |  | 415,867 | ​ | 10.73 | ​ | ​ |  | 154,978 | ​ | 4.00 | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2023 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Minimum Regulatory | ​
​ | ​ | Actual | ​ | Capital Requirements | ​
(in thousands, except ratios) |  | Amount |  | Ratio | ​ | Amount |  | Ratio | ​
Company (consolidated) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | ​
Total capital to risk-weighted assets | ​ | $ | 450,160 | ​ | 14.24 | % | ​ | $ | 252,888 | ​ | 8.00 | %
Common equity tier 1 capital to risk-weighted assets | ​ |  | 357,574 | ​ | 11.31 | ​ | ​ |  | 142,249 | ​ | 4.50 | ​
Tier 1 capital to risk-weighted assets | ​ |  | 378,194 | ​ | 11.96 | ​ | ​ |  | 189,666 | ​ | 6.00 | ​
Tier 1 capital to average assets (leverage ratio) | ​ |  | 378,194 | ​ | 9.70 | ​ | ​ |  | 156,022 | ​ | 4.00 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Bank | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total capital to risk-weighted assets | ​ | $ | 441,278 | ​ | 13.97 | % | ​ | $ | 252,642 | ​ | 8.00 | %
Common equity tier 1 capital to risk-weighted assets | ​ |  | 409,312 | ​ | 12.96 | ​ | ​ |  | 142,111 | ​ | 4.50 | ​
Tier 1 capital to risk-weighted assets | ​ |  | 409,312 | ​ | 12.96 | ​ | ​ |  | 189,482 | ​ | 6.00 | ​
Tier 1 capital to average assets (leverage ratio) | ​ |  | 409,312 | ​ | 10.50 | ​ | ​ |  | 155,908 | ​ | 4.00 | ​
Schedule of Components of Accumulated Other Comprehensive Loss | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
(in thousands) |  | March 31, 2024 |  | December 31, 2023
Accumulated other comprehensive loss, before tax: |  | ​ |  |  | ​ |
Net unrealized loss on AFS securities | ​ | $ | (64,948) | ​ | $ | (62,351)
Net unrealized loss on hedging derivatives | ​ |  | (2,259) | ​ |  | (1,322)
Net unrealized loss on post-retirement plans | ​ |  | (1,518) | ​ |  | (1,540)
​ | ​ | ​ | ​ | ​ | ​ | ​
Income taxes related to items of accumulated other comprehensive loss: | ​ |  |  | ​ |  |
Net unrealized loss on AFS securities | ​ |  | 15,315 | ​ |  | 14,702
Net unrealized loss on hedging derivatives | ​ |  | 533 | ​ |  | 312
Net unrealized loss on post-retirement plans | ​ |  | 309 | ​ |  | 337
Accumulated other comprehensive loss | ​ | $ | (52,568) | ​ | $ | (49,862)
Schedule of Components of Other Comprehensive Income (Loss) | The following table presents the components of other comprehensive income (loss) for the three months ended March 31, 2024 and 2023: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(in thousands) |  | Before Tax |  | Tax Effect |  | Net of Tax
Three Months Ended March 31, 2024 |  | ​ |  |  | ​ |  |  | ​ |
Net unrealized loss on AFS securities: |  | ​ |  |  | ​ |  |  | ​ |
Net unrealized loss arising during the period | ​ | $ | (2,597) | ​ | $ | 613 | ​ | $ | (1,984)
Less: reclassification adjustment for gains (losses) realized in net income | ​ |  | — | ​ |  | — | ​ |  | —
Net unrealized loss on AFS securities | ​ |  | (2,597) | ​ |  | 613 | ​ |  | (1,984)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net unrealized loss on hedging derivatives: | ​ |  |  | ​ |  |  | ​ |  | ​
Net unrealized loss arising during the period | ​ |  | (937) | ​ |  | 221 | ​ |  | (716)
Less: reclassification adjustment for gains (losses) realized in net income | ​ |  | — | ​ |  | — | ​ |  | —
Net unrealized loss on cash flow hedging derivatives | ​ |  | (937) | ​ |  | 221 | ​ |  | (716)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net unrealized loss on post-retirement plans: | ​ |  |  | ​ |  |  | ​ |  | ​
Net unrealized loss arising during the period | ​ |  | 22 | ​ |  | (28) | ​ |  | (6)
Less: reclassification adjustment for gains (losses) realized in net income | ​ |  | — | ​ |  | — | ​ |  | —
Net unrealized loss on post-retirement plans | ​ |  | 22 | ​ |  | (28) | ​ |  | (6)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Other comprehensive loss | ​ | $ | (3,512) | ​ | $ | 806 | ​ | $ | (2,706)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Three Months Ended March 31, 2023 | ​ |  |  | ​ |  |  | ​ |  |
Net unrealized loss on AFS securities: | ​ |  |  | ​ |  |  | ​ |  |
Net unrealized loss arising during the period | ​ | $ | 6,040 | ​ | $ | (1,414) | ​ | $ | 4,626
Less: reclassification adjustment for gains (losses) realized in net income | ​ |  | 34 | ​ |  | (8) | ​ |  | 26
Net unrealized loss on AFS securities | ​ |  | 6,006 | ​ |  | (1,406) | ​ |  | 4,600
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net unrealized loss on hedging derivatives: | ​ |  |  | ​ |  |  | ​ |  | ​
Net unrealized loss arising during the period | ​ |  | 767 | ​ |  | (178) | ​ |  | 589
Less: reclassification adjustment for gains (losses) realized in net income | ​ |  | — | ​ |  | — | ​ |  | —
Net unrealized loss on cash flow hedging derivatives | ​ |  | 767 | ​ |  | (178) | ​ |  | 589
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net unrealized loss on post-retirement plans: | ​ |  |  | ​ |  |  | ​ |  | ​
Net unrealized loss arising during the period | ​ |  | — | ​ |  | — | ​ |  | —
Less: reclassification adjustment for gains (losses) realized in net income | ​ |  | — | ​ |  | — | ​ |  | —
Net unrealized loss on post-retirement plans | ​ |  | — | ​ |  | — | ​ |  | —
Other comprehensive income | ​ | $ | 6,773 | ​ | $ | (1,584) | ​ | $ | 5,189
​
Schedule of Changes in Components of Accumulated Other Comprehensive Income (Loss) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​
​ |  | Net unrealized |  | Net gain (loss) on |  | Net unrealized |  | ​ | ​
​ | ​ | gain (loss) | ​ | effective cash | ​ | loss | ​ | ​ | ​
​ | ​ | on AFS | ​ | flow hedging | ​ | on pension | ​ | ​ | ​
(in thousands) | ​ | Securities | ​ | derivatives | ​ | plans | ​ | Total
Three Months Ended March 31, 2024 | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | ​
Balance at beginning of period | ​ | $ | (47,649) | ​ | $ | (1,010) | ​ | $ | (1,203) | ​ | $ | (49,862)
Other comprehensive gain before reclassifications | ​ |  | (1,984) | ​ |  | (716) | ​ |  | (6) | ​ |  | (2,706)
Less: amounts reclassified from accumulated other comprehensive income | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | —
Total other comprehensive income | ​ |  | (1,984) | ​ |  | (716) | ​ |  | (6) | ​ |  | (2,706)
Balance at end of period | ​ | $ | (49,633) | ​ | $ | (1,726) | ​ | $ | (1,209) | ​ | $ | (52,568)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Three Months Ended March 31, 2023 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Balance at beginning of period | ​ | $ | (55,246) | ​ | $ | (1,794) | ​ | $ | (1,300) | ​ | $ | (58,340)
Other comprehensive loss before reclassifications | ​ |  | 4,626 | ​ |  | 589 | ​ |  | — | ​ |  | 5,215
Less: amounts reclassified from accumulated other comprehensive income | ​ |  | 26 | ​ |  | — | ​ |  | — | ​ |  | 26
Total other comprehensive loss | ​ |  | 4,600 | ​ |  | 589 | ​ |  | — | ​ |  | 5,189
Balance at end of period | ​ | $ | (50,646) | ​ | $ | (1,205) | ​ | $ | (1,300) | ​ | $ | (53,151)
​
Reclassification out of Accumulated Other Comprehensive Income (Loss) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended March 31, | ​ | ​ | Affected Line Item where
(in thousands) |  | 2024 |  | 2023 |  |  | Net Income is Presented
Net realized gains on AFS securities: | ​ |  | ​ | ​ |  | ​ | ​ | ​ |
Before tax | ​ | $ | — | ​ | $ | 34 | ​ |  | Non-interest income
Tax effect | ​ |  | — | ​ |  | (8) | ​ |  | Tax expense
Total reclassifications for the period | ​ | $ | — | ​ | $ | 26 | ​ | ​ | ​
​

X
- Definition Tabular disclosure of information about items reclassified out of accumulated other comprehensive income (loss). + References No definition available. + Details
Name: | us-gaap_ReclassificationOutOfAccumulatedOtherComprehensiveIncomeTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of accumulated other comprehensive income (loss). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 14A -Publisher FASB -URI https://asc.fasb.org//1943274/2147482790/220-10-45-14A Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 830 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481674/830-30-50-1 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 830 -SubTopic 30 -Name Accounting Standards Codification -Section 45 -Paragraph 20 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481694/830-30-45-20 + Details
Name: | us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the net gain (loss) and net prior service cost or credit recognized in other comprehensive income (loss) for the period for pension plans and/or other employee benefit plans, and reclassification adjustments of other comprehensive income (loss) for the period, as those amounts, including amortization of the net transition asset or obligation, are recognized as components of net periodic benefit cost. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (i) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480506/715-20-50-1 + Details
Name: | us-gaap_ScheduleOfAmountsRecognizedInOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the capital amounts and ratios as of the balance sheet date, indicating whether the entity or entities are in compliance with regulatory capital requirements, by entity. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480696/942-505-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 1B -Publisher FASB -URI https://asc.fasb.org//1943274/2147480696/942-505-50-1B + Details
Name: | us-gaap_ScheduleOfComplianceWithRegulatoryCapitalRequirementsUnderBankingRegulationsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of components of comprehensive income (loss). Includes, but is not limited to, foreign currency translation adjustments, foreign currency transactions designated as economic hedges of a net investment in foreign entity, gain (loss) and prior service cost (credit) for pension plans and other postretirement benefit plans. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 1 -Section 45 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482790/220-10-45-1 + Details
Name: | us-gaap_ScheduleOfComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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