0001071236-22-000037 | 10-Q | XBRL Viewer

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Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Numerator:
Net income - basic	$ 7,392	$ 8,065
Net income - diluted	$ 7,392	$ 8,065
Denominator:
Weighted average shares outstanding - basic (in shares)	7,179,624	7,317,995
Weighted average shares outstanding - diluted (in shares)	7,198,616	7,337,151
Earnings per common share:
Basic (in dollars per share)	$ 1.03	$ 1.10
Diluted (in dollars per share)	$ 1.03	$ 1.10
Plus: Effect of Director Compensation Program
Denominator:
Effect of dilutive securities (in shares)	369	209
Plus: Effect of restricted stock
Denominator:
Effect of dilutive securities (in shares)	18,623	18,947

Deposits (Tables)

3 Months Ended

Mar. 31, 2022

Deposits [Abstract]

Summary of deposits

Deposits are summarized below:


(in thousands)	March 31, 2022		December 31, 2021
Noninterest-bearing deposits	$	1,181,136	$	1,149,672
Interest-bearing deposits:
NOW accounts	466,019		503,383
Money market accounts	747,397		733,044
Savings accounts	200,342		191,076
Time deposits less than or equal to $250,000	242,088		243,596
Time deposits greater than $250,000	90,746		89,577
Total interest-bearing deposits	1,746,592		1,760,676
Total deposits	$	2,927,728	$	2,910,348

- Definition

Tabular disclosure of type of deposit liability.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher SEC
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph (e)

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher SEC
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph (f)
-Subparagraph (2)(i)(ii)

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher SEC
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph (a)
-Subparagraph (1)

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher SEC
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph (f)
-Subparagraph (1)

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher SEC
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph (d)

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher SEC
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph (f)
-Subparagraph (2)(i)

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher SEC
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph (f)
-Subparagraph (2)(i)(iv)

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher SEC
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph (a)
-Subparagraph (5)

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher SEC
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph (f)
-Subparagraph (2)(i)(iii)

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher SEC
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph (a)
-Subparagraph (4)

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher SEC
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph (f)
-Subparagraph (2)

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher SEC
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph (c)

Reference 13: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher SEC
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph (a)
-Subparagraph (2)

Reference 14: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher SEC
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph (a)
-Subparagraph (3)

Reference 15: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher SEC
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph (a)

+ Details

Deposits - Narrative (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Deposits [Abstract]
Deposits	$ 2,927,728	$ 2,910,348

Loans and Asset Quality - Schedule of Loans Impaired (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Unpaid Principal Balance
With no related allowance recorded:	$ 4,110	$ 2,591
With allowance recorded:	947	3,619
Total impaired loans	5,057	6,210
Recorded Investment
With no related allowance recorded:	4,054	2,538
With allowance recorded:	938	3,611
Total impaired loans	4,992	6,149
Related Allowance	207	226
Average Recorded Investment
With no related allowance recorded:	3,296	3,267
With allowance recorded:	2,275	3,938
Total impaired loans	5,571	7,205
Real estate \| Commercial real estate
Unpaid Principal Balance
With no related allowance recorded:	3,535	1,599
With allowance recorded:	735	3,416
Recorded Investment
With no related allowance recorded:	3,530	1,595
With allowance recorded:	735	3,416
Related Allowance	34	68
Average Recorded Investment
With no related allowance recorded:	2,563	1,969
With allowance recorded:	2,076	2,111
Real estate \| One-to-four family residential
Unpaid Principal Balance
With no related allowance recorded:	478	483
With allowance recorded:	0	0
Recorded Investment
With no related allowance recorded:	427	434
With allowance recorded:	0	0
Related Allowance	0	0
Average Recorded Investment
With no related allowance recorded:	431	539
With allowance recorded:	0	145
Real estate \| Construction and development
Unpaid Principal Balance
With no related allowance recorded:	0	501
With allowance recorded:	0	0
Recorded Investment
With no related allowance recorded:	0	501
With allowance recorded:	0	0
Related Allowance	0	0
Average Recorded Investment
With no related allowance recorded:	250	400
With allowance recorded:	0	0
Commercial and industrial
Unpaid Principal Balance
With no related allowance recorded:	91	0
With allowance recorded:	81	85
Recorded Investment
With no related allowance recorded:	91	0
With allowance recorded:	72	77
Related Allowance	42	40
Average Recorded Investment
With no related allowance recorded:	45	355
With allowance recorded:	74	1,570
SBA PPP, net of deferred income
Unpaid Principal Balance
With no related allowance recorded:	0	0
With allowance recorded:	0	0
Recorded Investment
With no related allowance recorded:	0	0
With allowance recorded:	0	0
Related Allowance	0	0
Average Recorded Investment
With no related allowance recorded:	0	0
With allowance recorded:	0	0
Tax-exempt
Unpaid Principal Balance
With no related allowance recorded:	0	0
With allowance recorded:	0	0
Recorded Investment
With no related allowance recorded:	0	0
With allowance recorded:	0	0
Related Allowance	0	0
Average Recorded Investment
With no related allowance recorded:	0	0
With allowance recorded:	0	0
Consumer
Unpaid Principal Balance
With no related allowance recorded:	6	8
With allowance recorded:	131	118
Recorded Investment
With no related allowance recorded:	6	8
With allowance recorded:	131	118
Related Allowance	131	118
Average Recorded Investment
With no related allowance recorded:	7	4
With allowance recorded:	$ 125	$ 112

Fair Value - Unobservable Inputs Used for the Level 3 (Details) $ in Thousands	Mar. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Minimum \| Discounted appraisals \| Collateral discounts and costs to sell
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Impaired loans (percent)	0	0
Maximum \| Discounted appraisals \| Collateral discounts and costs to sell
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Impaired loans (percent)	1	1
Weighted Average Discount \| Discounted appraisals \| Collateral discounts and costs to sell
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Impaired loans (percent)	0.0414	0.0367
Nonrecurring \| Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Impaired loans	$ 4,785	$ 5,923
Foreclosed assets	$ 660	$ 660

Regulatory Capital Requirements

3 Months Ended

Mar. 31, 2022

Regulatory Capital Requirements Under Banking Regulations [Abstract]

Regulatory Capital Requirements

Red River Bank

The Bank is subject to various regulatory capital requirements administered by the FDIC. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Bank’s and the Company’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Bank must meet specific capital guidelines that involve quantitative measures of its assets, liabilities, and certain off-balance sheet items as calculated under regulatory accounting practices. The capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors.

The Bank is subject to Basel III capital guidelines. Basel III requires the Bank to maintain certain minimum ratios to meet capital adequacy requirements. In addition, a CCB was established above the minimum regulatory capital requirements. Effective January 1, 2019, the final CCB was fully phased in at 2.50%. It is management’s belief that, as of March 31, 2022, the Bank met all capital adequacy requirements under Basel III. Management expects that the capital ratios for the Bank under Basel III will continue to exceed capital adequacy requirements. The most recent notification from the FDIC (as of June 30, 2021) categorized the Bank as “well capitalized” under the regulatory framework for prompt corrective action.

Capital amounts and ratios for Red River Bank as of March 31, 2022 and December 31, 2021, are presented in the following table:


					Regulatory Requirements
	Actual				Minimum				Minimum Plus CCB
(dollars in thousands)	Amount		Ratio		Amount		Ratio		Amount		Ratio
March 31, 2022
Total Risk-Based Capital	$	313,342	16.59	%	$	151,090	8.00	%	$	198,306	10.50	%
Tier I Risk-Based Capital	$	294,098	15.57	%	$	113,318	6.00	%	$	160,534	8.50	%
Common Equity Tier I Capital	$	294,098	15.57	%	$	84,988	4.50	%	$	132,204	7.00	%
Tier I Leverage Capital	$	294,098	9.10	%	$	129,204	4.00	%	$	129,204	4.00	%

December 31, 2021
Total Risk-Based Capital	$	305,771	17.06	%	$	143,372	8.00	%	$	188,176	10.50	%
Tier I Risk-Based Capital	$	286,595	15.99	%	$	107,529	6.00	%	$	152,333	8.50	%
Common Equity Tier I Capital	$	286,595	15.99	%	$	80,647	4.50	%	$	125,451	7.00	%
Tier I Leverage Capital	$	286,595	9.23	%	$	124,241	4.00	%	$	124,241	4.00	%

Red River Bancshares, Inc.

As a general matter, bank holding companies are subject to Basel III capital adequacy requirements under applicable Federal Reserve regulations on a consolidated basis. However, bank holding companies that qualify as “small bank holding companies” under the Federal Reserve’s Small Bank Holding Company Policy Statement are exempt from the Federal Reserve’s consolidated capital adequacy guidelines at the holding company level and instead are evaluated at the bank level. In May 2018, the Economic Growth Act was enacted, and it increased the asset threshold for “small bank holding companies” from $1.0 billion to $3.0 billion. Because the Company had less than $3.0 billion in assets as of June 30, 2021, the last applicable measurement date, it is not subject to capital adequacy guidelines on a consolidated basis as of March 31, 2022. Although the minimum regulatory capital requirements are not applicable to the Company, the Company calculates these ratios for its own planning and monitoring purposes.

Capital amounts and ratios for Red River Bancshares, Inc. as of March 31, 2022 and December 31, 2021, are presented in the following table:


	Actual
(dollars in thousands)	Amount		Ratio
March 31, 2022
Total Risk-Based Capital	$	326,391	17.28	%
Tier I Risk-Based Capital	$	307,147	16.26	%
Common Equity Tier I Capital	$	307,147	16.26	%
Tier I Leverage Capital	$	307,147	9.51	%

December 31, 2021
Total Risk-Based Capital	$	319,553	17.83	%
Tier I Risk-Based Capital	$	300,377	16.76	%
Common Equity Tier I Capital	$	300,377	16.76	%
Tier I Leverage Capital	$	300,377	9.67	%

Community Bank Leverage Ratio Framework

As part of the directive under the Economic Growth Act, on September 17, 2019, the FDIC and other federal bank regulatory agencies approved the CBLR framework. This optional framework became effective January 1, 2020, and is available as an alternative to the Basel III risk-based capital framework. The CBLR framework provides for a simple measure of capital adequacy for certain community banking organizations. Specifically, depository institutions and depository institution holding companies that have less than $10.0 billion in total consolidated assets and meet other qualifying criteria, including a Tier 1 leverage ratio of greater than 9.00% (subsequently temporarily reduced to 8.00% for 2020 and 8.50% for 2021 as a COVID-19 relief measure), are considered qualifying community banking organizations and are eligible to opt into the CBLR framework and replace the applicable Basel III risk-based capital requirements.

As of March 31, 2022, the Company and the Bank qualify for the CBLR framework. Management does not intend to utilize the CBLR framework.

- Definition

The entire disclosure for regulatory capital requirement for depository and lending institutions. Institutions include, but not are not limited to, finance company, insured depository institution, bank holding company, savings and loan association holding company, bank and savings institution not federally insured, mortgage company, foreign financial institution and credit union.

+ References + Details

Subsequent Events	3 Months Ended
Subsequent Events	Mar. 31, 2022
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Equity securities are an investment in a CRA mutual fund, consisting primarily of bonds. Equity securities are carried at fair value on the consolidated balance sheets with periodic changes in value recorded through the consolidated statements of income. The fair value of equity securities was $7.5 million as of March 31, 2022, with a recognized loss of $365,000 for the three months ended March 31, 2022, compared to a fair value of $7.8 million as of December 31, 2021, with a recognized loss of $175,000 for the year ended December 31, 2021. The loss on equity securities in the first quarter of 2022 was due to a significant increase in interest rates. In April 2022, all shares invested in the mutual fund were liquidated. During the second quarter of 2022, the Company decided to reclassify a selected portion of the securities portfolio from AFS to HTM. Such reclassifications are made at fair value on the date of reclassification. The unrealized gains or losses on the date of the reclassification are retained in AOCI and in the carrying value of the HTM securities. This amount is amortized out of AOCI over the remaining life of the underlying HTM securities, and will impact the yield on those securities.

Stock Repurchase Program	3 Months Ended
Stock Repurchase Program	Mar. 31, 2022
Equity [Abstract]
Stock Repurchase Program	Stock Repurchase ProgramOn February 4, 2022, the Company’s Board of Directors approved the renewal of its stock repurchase program that was completed in the fourth quarter of 2021 after reaching its purchase limit. The renewed repurchase program authorizes the Company to purchase up to $5.0 million of its outstanding shares of common stock from February 4, 2022 through December 31, 2022. Repurchases may be made from time to time in the open market at prevailing prices and based on market conditions, or in privately negotiated transactions. For the three months ended March 31, 2022, the Company repurchased 4,465 shares of its common stock at an aggregate cost of $218,000. As of March 31, 2022, the Company had $4.8 million available for repurchasing its common stock under this program.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/topic&trid=2208762

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (h)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-Paragraph 14
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-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 16
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496180-112644

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-Section 50
-Paragraph 13
-Subparagraph (i)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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+ Details

Loans and Asset Quality - Summary of Current, Past Due, and Nonaccrual Loans (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Financing Receivable, Credit Quality Indicator [Line Items]
Loans held for investment	$ 1,741,026	$ 1,683,832
Nonaccrual	269	280
Current
Financing Receivable, Credit Quality Indicator [Line Items]
Loans held for investment	1,740,025	1,682,457
30-89 Days Past Due
Financing Receivable, Credit Quality Indicator [Line Items]
Loans held for investment	688	1,056
90 Days or More Past Due
Financing Receivable, Credit Quality Indicator [Line Items]
Loans held for investment	44	39
Real estate \| Commercial real estate
Financing Receivable, Credit Quality Indicator [Line Items]
Loans held for investment	723,418	670,293
Nonaccrual	48	51
Real estate \| Commercial real estate \| Current
Financing Receivable, Credit Quality Indicator [Line Items]
Loans held for investment	723,370	669,781
Real estate \| Commercial real estate \| 30-89 Days Past Due
Financing Receivable, Credit Quality Indicator [Line Items]
Loans held for investment	0	461
Real estate \| Commercial real estate \| 90 Days or More Past Due
Financing Receivable, Credit Quality Indicator [Line Items]
Loans held for investment	0	0
Real estate \| One-to-four family residential
Financing Receivable, Credit Quality Indicator [Line Items]
Loans held for investment	484,871	474,420
Nonaccrual	209	216
Real estate \| One-to-four family residential \| Current
Financing Receivable, Credit Quality Indicator [Line Items]
Loans held for investment	484,197	473,658
Real estate \| One-to-four family residential \| 30-89 Days Past Due
Financing Receivable, Credit Quality Indicator [Line Items]
Loans held for investment	465	546
Real estate \| One-to-four family residential \| 90 Days or More Past Due
Financing Receivable, Credit Quality Indicator [Line Items]
Loans held for investment	0	0
Real estate \| Construction and development
Financing Receivable, Credit Quality Indicator [Line Items]
Loans held for investment	117,526	106,339
Nonaccrual	0	0
Real estate \| Construction and development \| Current
Financing Receivable, Credit Quality Indicator [Line Items]
Loans held for investment	117,465	106,300
Real estate \| Construction and development \| 30-89 Days Past Due
Financing Receivable, Credit Quality Indicator [Line Items]
Loans held for investment	22	0
Real estate \| Construction and development \| 90 Days or More Past Due
Financing Receivable, Credit Quality Indicator [Line Items]
Loans held for investment	39	39
Commercial and industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Loans held for investment	303,556	311,373
Nonaccrual	12	13
Commercial and industrial \| Current
Financing Receivable, Credit Quality Indicator [Line Items]
Loans held for investment	303,390	311,321
Commercial and industrial \| 30-89 Days Past Due
Financing Receivable, Credit Quality Indicator [Line Items]
Loans held for investment	154	39
Commercial and industrial \| 90 Days or More Past Due
Financing Receivable, Credit Quality Indicator [Line Items]
Loans held for investment	0	0
SBA PPP, net of deferred income
Financing Receivable, Credit Quality Indicator [Line Items]
Loans held for investment	6,397	17,550
Nonaccrual	0	0
SBA PPP, net of deferred income \| Current
Financing Receivable, Credit Quality Indicator [Line Items]
Loans held for investment	6,397	17,550
SBA PPP, net of deferred income \| 30-89 Days Past Due
Financing Receivable, Credit Quality Indicator [Line Items]
Loans held for investment	0	0
SBA PPP, net of deferred income \| 90 Days or More Past Due
Financing Receivable, Credit Quality Indicator [Line Items]
Loans held for investment	0	0
Tax-exempt
Financing Receivable, Credit Quality Indicator [Line Items]
Loans held for investment	81,000	80,726
Nonaccrual	0	0
Tax-exempt \| Current
Financing Receivable, Credit Quality Indicator [Line Items]
Loans held for investment	81,000	80,726
Tax-exempt \| 30-89 Days Past Due
Financing Receivable, Credit Quality Indicator [Line Items]
Loans held for investment	0	0
Tax-exempt \| 90 Days or More Past Due
Financing Receivable, Credit Quality Indicator [Line Items]
Loans held for investment	0	0
Consumer
Financing Receivable, Credit Quality Indicator [Line Items]
Loans held for investment	24,258	23,131
Nonaccrual	0	0
Consumer \| Current
Financing Receivable, Credit Quality Indicator [Line Items]
Loans held for investment	24,206	23,121
Consumer \| 30-89 Days Past Due
Financing Receivable, Credit Quality Indicator [Line Items]
Loans held for investment	47	10
Consumer \| 90 Days or More Past Due
Financing Receivable, Credit Quality Indicator [Line Items]
Loans held for investment	$ 5	$ 0

Securities - Narrative (Details) $ in Thousands	3 Months Ended
Securities - Narrative (Details) $ in Thousands	Mar. 31, 2022 USD ($) security	Mar. 31, 2021 USD ($)	Dec. 31, 2021 USD ($)
Investments, Debt and Equity Securities [Abstract]
Securities purchased	$ 232,688	$ 123,175
Maturities, principal repayments, and calls	29,810	$ 30,822
Debt Securities, Unrealized Gain (Loss)	50,700
Accumulated unrealized loss on AFS securities	$ 55,500
Number of securities in unrealized loss positions \| security	513
Securities in a loss position as a proportion of total AFS securities (as a percent)	6.43%
Securities pledged to secure public deposits	$ 133,600		$ 118,600

Loans and Asset Quality - Schedule of Allowance of Loan Losses By Category (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance	$ 19,176	$ 17,951
Provision for Loan Losses	150	1,900
Charge-offs	(129)	(885)
Recoveries	47	210
Ending Balance	19,244	19,176
Real estate \| Commercial real estate
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance	6,749	5,798
Provision for Loan Losses	443	1,401
Charge-offs	0	(450)
Recoveries	0	0
Ending Balance	7,192	6,749
Real estate \| One-to-four family residential
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance	5,375	5,390
Provision for Loan Losses	(196)	(23)
Charge-offs	0	(10)
Recoveries	3	18
Ending Balance	5,182	5,375
Real estate \| Construction and development
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance	1,326	1,699
Provision for Loan Losses	(47)	(375)
Charge-offs	0	0
Recoveries	0	2
Ending Balance	1,279	1,326
Commercial and industrial
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance	4,440	3,631
Provision for Loan Losses	(118)	856
Charge-offs	(6)	(74)
Recoveries	4	27
Ending Balance	4,320	4,440
SBA PPP, net of deferred income
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance	25	318
Provision for Loan Losses	(16)	(293)
Charge-offs	0	0
Recoveries	0	0
Ending Balance	9	25
Tax-exempt
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance	749	680
Provision for Loan Losses	2	69
Charge-offs	0	0
Recoveries	0	0
Ending Balance	751	749
Consumer
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance	512	435
Provision for Loan Losses	82	265
Charge-offs	(123)	(351)
Recoveries	40	163
Ending Balance	$ 511	$ 512

CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - shares	Mar. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Preferred stock, shares authorized (in shares)	1,000,000	1,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, shares authorized (in shares)	30,000,000	30,000,000
Common stock, shares, issued (in shares)	7,176,365	7,180,155
Common stock, shares, outstanding (in shares)	7,176,365	7,180,155

Subsequent Events (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
Subsequent Events (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Subsequent Events [Abstract]
Equity securities, at fair value	$ 7,481	$ 7,846
Loss on equity securities	$ 365	$ 175

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (UNAUDITED) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)
Balance at the beginning of period (in shares) at Dec. 31, 2020		7,325,333
Balance in the beginning of period at Dec. 31, 2020	$ 285,478	$ 68,055	$ 1,545	$ 208,957	$ 6,921
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	8,065			8,065
Stock incentive plan	93		93
Issuance of shares of common stock as board compensation (in shares)		1,075
Issuance of shares of common stock as board compensation	56	$ 56
Repurchase of common stock under stock repurchase program (in shares)		(19,661)
Repurchase of common stock under stock repurchase program	(1,018)	$ (1,018)
Cash dividend	(511)			(511)
Other comprehensive income (loss)	(7,252)				(7,252)
Balance at the end of period (in shares) at Mar. 31, 2021		7,306,747
Balance at the end of period at Mar. 31, 2021	$ 284,911	$ 67,093	1,638	216,511	(331)
Balance at the beginning of period (in shares) at Dec. 31, 2021	7,180,155	7,180,155
Balance in the beginning of period at Dec. 31, 2021	$ 298,150	$ 60,233	1,814	239,876	(3,773)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	7,392			7,392
Stock incentive plan	63		63
Issuance of shares of common stock as board compensation (in shares)		675
Issuance of shares of common stock as board compensation	$ 35	$ 35
Repurchase of common stock under stock repurchase program (in shares)	(4,465)	(4,465)
Repurchase of common stock under stock repurchase program	$ (218)	$ (218)
Cash dividend	(502)			(502)
Other comprehensive income (loss)	$ (40,046)				(40,046)
Balance at the end of period (in shares) at Mar. 31, 2022	7,176,365	7,176,365
Balance at the end of period at Mar. 31, 2022	$ 264,874	$ 60,050	$ 1,877	$ 246,766	$ (43,819)

Earnings Per Common Share (Tables)

3 Months Ended

Mar. 31, 2022

Earnings Per Share [Abstract]

Schedule of earnings per share

The computations of basic and diluted earnings per common share for the Company were as follows:


	For the Three Months Ended March 31,
(in thousands, except share amounts)	2022		2021
Numerator:
Net income - basic	$	7,392	$	8,065
Net income - diluted	$	7,392	$	8,065

Denominator:
Weighted average shares outstanding - basic	7,179,624		7,317,995
Plus: Effect of Director Compensation Program	369		209
Plus: Effect of restricted stock	18,623		18,947
Weighted average shares outstanding - diluted	7,198,616		7,337,151

Earnings per common share:
Basic	$	1.03	$	1.10
Diluted	$	1.03	$	1.10

Securities - Schedule of Amortized Cost and Fair Value (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 866,271	$ 663,954
Gross Unrealized Gains	244	4,838
Gross Unrealized Losses	(55,711)	(9,614)
Fair Value	810,804	659,178
Mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	496,302	386,874
Gross Unrealized Gains	7	1,112
Gross Unrealized Losses	(34,821)	(8,460)
Fair Value	461,488	379,526
Municipal bonds
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	231,198	227,248
Gross Unrealized Gains	237	3,665
Gross Unrealized Losses	(18,165)	(942)
Fair Value	213,270	229,971
U.S. Treasury securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	131,508	41,770
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(2,385)	(154)
Fair Value	129,123	41,616
U.S. agency securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	7,263	8,062
Gross Unrealized Gains	0	61
Gross Unrealized Losses	(340)	(58)
Fair Value	$ 6,923	$ 8,065

Contingencies	3 Months Ended
Contingencies	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Contingencies	ContingenciesThe Company and the Bank are involved, from time to time, in various legal matters arising in the ordinary course of business. While the outcome of these claims or litigation cannot be determined at this time, in the opinion of management, neither the Company nor the Bank are involved in such legal proceedings that the resolution is expected to have a material adverse effect on the consolidated results of operations, financial condition, or cash flows.

Fair Value - Carrying Amounts and Estimated Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Financial assets:
Securities AFS	$ 810,804	$ 659,178
Equity securities	7,481	7,846
Nonmarketable equity securities	3,451	3,450
Level 1
Financial assets:
Cash and due from banks	40,137	23,143
Interest-bearing deposits in other banks	506,982	761,721
Securities AFS	0	0
Equity securities	7,481	7,846
Nonmarketable equity securities	0	0
Loans HFS	0	0
Loans HFI, net of allowance	0	0
Accrued interest receivable	0	0
Financial liabilities:
Deposits	0	0
Accrued interest payable	0	0
Level 2
Financial assets:
Cash and due from banks	0	0
Interest-bearing deposits in other banks	0	0
Securities AFS	810,804	659,178
Equity securities	0	0
Nonmarketable equity securities	3,451	3,450
Loans HFS	6,641	4,290
Loans HFI, net of allowance	0	0
Accrued interest receivable	0	0
Financial liabilities:
Deposits	2,923,564	2,911,118
Accrued interest payable	1,329	1,310
Level 3
Financial assets:
Cash and due from banks	0	0
Interest-bearing deposits in other banks	0	0
Securities AFS	0	0
Equity securities	0	0
Nonmarketable equity securities	0	0
Loans HFS	0	0
Loans HFI, net of allowance	1,722,718	1,674,900
Accrued interest receivable	6,654	6,245
Financial liabilities:
Deposits	0	0
Accrued interest payable	0	0
Carrying Amount
Financial assets:
Cash and due from banks	40,137	23,143
Interest-bearing deposits in other banks	506,982	761,721
Securities AFS	810,804	659,178
Equity securities	7,481	7,846
Nonmarketable equity securities	3,451	3,450
Loans HFS	6,641	4,290
Loans HFI, net of allowance	1,721,782	1,664,656
Accrued interest receivable	6,654	6,245
Financial liabilities:
Deposits	2,927,728	2,910,348
Accrued interest payable	1,329	1,310
Fair Value
Financial assets:
Cash and due from banks	40,137	23,143
Interest-bearing deposits in other banks	506,982	761,721
Securities AFS	810,804	659,178
Equity securities	7,481	7,846
Nonmarketable equity securities	3,451	3,450
Loans HFS	6,641	4,290
Loans HFI, net of allowance	1,722,718	1,674,900
Accrued interest receivable	6,654	6,245
Financial liabilities:
Deposits	2,923,564	2,911,118
Accrued interest payable	$ 1,329	$ 1,310

CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
ASSETS
Cash and due from banks	$ 40,137	$ 23,143
Interest-bearing deposits in other banks	506,982	761,721
Total Cash and Cash Equivalents	547,119	784,864
Securities available-for-sale, at fair value	810,804	659,178
Equity securities, at fair value	7,481	7,846
Nonmarketable equity securities	3,451	3,450
Loans held for sale	6,641	4,290
Loans held for investment	1,741,026	1,683,832
Allowance for loan losses	(19,244)	(19,176)
Premises and equipment, net	50,605	48,056
Accrued interest receivable	6,654	6,245
Bank-owned life insurance	28,233	28,061
Intangible assets	1,546	1,546
Right-of-use assets	4,506	3,743
Other assets	23,638	12,775
Total Assets	3,212,460	3,224,710
LIABILITIES
Noninterest-bearing deposits	1,181,136	1,149,672
Interest-bearing deposits	1,746,592	1,760,676
Total Deposits	2,927,728	2,910,348
Accrued interest payable	1,329	1,310
Lease liabilities	4,610	3,842
Accrued expenses and other liabilities	13,919	11,060
Total Liabilities	2,947,586	2,926,560
COMMITMENTS AND CONTINGENCIES	0	0
STOCKHOLDERS’ EQUITY
Preferred stock, no par value: Authorized - 1,000,000 shares; None Issued and Outstanding	0	0
Common stock, no par value: Authorized - 30,000,000 shares; Issued and Outstanding - 7,176,365 and 7,180,155 shares, respectively	60,050	60,233
Additional paid-in capital	1,877	1,814
Retained earnings	246,766	239,876
Accumulated other comprehensive income (loss)	(43,819)	(3,773)
Total Stockholders’ Equity	264,874	298,150
Total Liabilities and Stockholders’ Equity	$ 3,212,460	$ 3,224,710

Loans and Asset Quality - Total Loans Held for Investment by Category and Loans Held for Sale (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Financing Receivable, Allowance for Credit Loss [Line Items]
Total loans HFI	$ 1,741,026	$ 1,683,832
Total loans HFS	6,641	4,290
Real estate \| Commercial real estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Total loans HFI	723,418	670,293
Real estate \| One-to-four family residential
Financing Receivable, Allowance for Credit Loss [Line Items]
Total loans HFI	484,871	474,420
Real estate \| Construction and development
Financing Receivable, Allowance for Credit Loss [Line Items]
Total loans HFI	117,526	106,339
Commercial and industrial
Financing Receivable, Allowance for Credit Loss [Line Items]
Total loans HFI	303,556	311,373
SBA PPP, net of deferred income
Financing Receivable, Allowance for Credit Loss [Line Items]
Total loans HFI	6,397	17,550
Tax-exempt
Financing Receivable, Allowance for Credit Loss [Line Items]
Total loans HFI	81,000	80,726
Consumer
Financing Receivable, Allowance for Credit Loss [Line Items]
Total loans HFI	$ 24,258	$ 23,131

Securities (Tables)

3 Months Ended

Mar. 31, 2022

Investments, Debt and Equity Securities [Abstract]

Schedule of debt securities available for sale

The amortized cost and estimated fair values of securities AFS are summarized in the following tables:


	March 31, 2022
(in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Securities AFS:
Mortgage-backed securities	$	496,302	$	7	$	(34,821)	$	461,488
Municipal bonds	231,198		237		(18,165)		213,270
U.S. Treasury securities	131,508		—		(2,385)		129,123
U.S. agency securities	7,263		—		(340)		6,923
Total Securities AFS	$	866,271	$	244	$	(55,711)	$	810,804


	December 31, 2021
(in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Securities AFS:
Mortgage-backed securities	$	386,874	$	1,112	$	(8,460)	$	379,526
Municipal bonds	227,248		3,665		(942)		229,971
U.S. Treasury securities	41,770		—		(154)		41,616
U.S. agency securities	8,062		61		(58)		8,065
Total Securities AFS	$	663,954	$	4,838	$	(9,614)	$	659,178

Schedule of maturities of securities available for sale

The amortized cost and estimated fair value of debt securities as of March 31, 2022, by contractual maturity, are shown below. Expected maturities may differ from contractual maturities because issuers have the right to call or repay obligations with or without call or prepayment penalties.


(in thousands)	Amortized Cost		Fair Value
Within one year	$	10,395	$	10,381
After one year but within five years	158,281		155,439
After five years but within ten years	86,136		82,829
After ten years	611,459		562,155
Total	$	866,271	$	810,804

Schedule of debt securities available for sale in unrealized loss position

Information pertaining to securities with gross unrealized losses as of March 31, 2022 and December 31, 2021, aggregated by investment category and length of time that individual securities have been in a continuous loss position, is described as follows:


	Less than twelve months				Twelve months or more
(in thousands)	Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value
March 31, 2022
Securities AFS:
Mortgage-backed securities	$	(20,405)	$	338,846	$	(14,416)	$	119,990
Municipal bonds	(15,753)		158,997		(2,412)		15,870
U.S. Treasury securities	(2,385)		129,123		—		—
U.S. agency securities	(245)		6,018		(95)		905
Total Securities AFS	$	(38,788)	$	632,984	$	(16,923)	$	136,765



December 31, 2021
Securities AFS:
Mortgage-backed securities	$	(6,627)	$	282,705	$	(1,833)	$	47,171
Municipal bonds	(918)		51,333		(24)		2,577
U.S. Treasury securities	(154)		41,616		—		—
U.S. agency securities	(58)		4,913		—		—
Total Securities AFS	$	(7,757)	$	380,567	$	(1,857)	$	49,748

Schedule of realized gain (loss)

The proceeds from sales and calls of securities AFS and their gross gain (loss) for the three months ended March 31, 2022 and 2021, are shown below:


	Three Months Ended March 31,
(in thousands)	2022		2021
Proceeds (1)	$	8,074	$	64,769
Gross gain	$	39	$	442
Gross loss	$	—	$	(283)

(1)The proceeds include the gross gain and loss.

Securities

3 Months Ended

Mar. 31, 2022

Investments, Debt and Equity Securities [Abstract]

Securities

Securities held for indefinite periods of time are classified as AFS and carried at estimated fair value. Investment activity for the three months ended March 31, 2022, included $232.7 million of securities purchased and $29.8 million in maturities, principal repayments, and calls. The net unrealized loss on the securities AFS portfolio increased $50.7 million for the three months ended March 31, 2022, resulting in an unrealized loss of $55.5 million as of March 31, 2022.

The amortized cost and estimated fair values of securities AFS are summarized in the following tables:


	March 31, 2022
(in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Securities AFS:
Mortgage-backed securities	$	496,302	$	7	$	(34,821)	$	461,488
Municipal bonds	231,198		237		(18,165)		213,270
U.S. Treasury securities	131,508		—		(2,385)		129,123
U.S. agency securities	7,263		—		(340)		6,923
Total Securities AFS	$	866,271	$	244	$	(55,711)	$	810,804


	December 31, 2021
(in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Securities AFS:
Mortgage-backed securities	$	386,874	$	1,112	$	(8,460)	$	379,526
Municipal bonds	227,248		3,665		(942)		229,971
U.S. Treasury securities	41,770		—		(154)		41,616
U.S. agency securities	8,062		61		(58)		8,065
Total Securities AFS	$	663,954	$	4,838	$	(9,614)	$	659,178


(in thousands)	Amortized Cost		Fair Value
Within one year	$	10,395	$	10,381
After one year but within five years	158,281		155,439
After five years but within ten years	86,136		82,829
After ten years	611,459		562,155
Total	$	866,271	$	810,804


	Less than twelve months				Twelve months or more
(in thousands)	Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value
March 31, 2022
Securities AFS:
Mortgage-backed securities	$	(20,405)	$	338,846	$	(14,416)	$	119,990
Municipal bonds	(15,753)		158,997		(2,412)		15,870
U.S. Treasury securities	(2,385)		129,123		—		—
U.S. agency securities	(245)		6,018		(95)		905
Total Securities AFS	$	(38,788)	$	632,984	$	(16,923)	$	136,765



December 31, 2021
Securities AFS:
Mortgage-backed securities	$	(6,627)	$	282,705	$	(1,833)	$	47,171
Municipal bonds	(918)		51,333		(24)		2,577
U.S. Treasury securities	(154)		41,616		—		—
U.S. agency securities	(58)		4,913		—		—
Total Securities AFS	$	(7,757)	$	380,567	$	(1,857)	$	49,748

As of March 31, 2022, the Company held 513 securities that were in unrealized loss positions. The aggregate unrealized loss of these securities as of March 31, 2022, was 6.43% of the amortized cost basis of the total securities AFS portfolio. Management and the Asset-Liability Management Committee continually monitor the securities portfolio and are able to effectively measure and monitor the unrealized loss positions on these securities. Management does not intend to sell these securities prior to recovery, and it is more likely than not that the Company will have the ability to hold them, primarily due to adequate liquidity, until each security has recovered its cost basis. The unrealized losses on these securities have been determined by management to be a function of the movement of interest rates since the time of purchase. Based on a review of available information, including recent changes in interest rates and credit rating information, management believes the decline in fair value of these securities is temporary. The Company does not consider these securities to have OTTI.

Management evaluates securities for OTTI on at least a quarterly basis and more frequently if economic or market concerns merit such evaluation. Consideration is given to (1) the length of time and the extent to which the fair value has been less than cost; (2) the financial condition and near-term prospects of the issuer; and (3) whether the Company intends to, and it is more likely than not that it will be able to, retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value. Additionally, the Company annually performs a detailed credit review of the municipal securities owned to identify any potential credit concerns. There were no OTTI losses on debt securities related to credit losses recognized during the three months ended March 31, 2022, or the year ended December 31, 2021.

The proceeds from sales and calls of securities AFS and their gross gain (loss) for the three months ended March 31, 2022 and 2021, are shown below:


	Three Months Ended March 31,
(in thousands)	2022		2021
Proceeds (1)	$	8,074	$	64,769
Gross gain	$	39	$	442
Gross loss	$	—	$	(283)

(1)The proceeds include the gross gain and loss.

Pledged Securities

Securities with carrying values of approximately $133.6 million and $118.6 million were pledged to secure public entity deposits as of March 31, 2022 and December 31, 2021, respectively.

Deposits - Summary (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Deposits [Abstract]
Noninterest-bearing deposits	$ 1,181,136	$ 1,149,672
Interest-bearing deposits:
NOW accounts	466,019	503,383
Money market accounts	747,397	733,044
Savings accounts	200,342	191,076
Time deposits less than or equal to $250,000	242,088	243,596
Time deposits greater than $250,000	90,746	89,577
Total interest-bearing deposits	1,746,592	1,760,676
Total Deposits	$ 2,927,728	$ 2,910,348

Deposits

3 Months Ended

Mar. 31, 2022

Deposits [Abstract]

Deposits

Deposits were $2.93 billion and $2.91 billion as of March 31, 2022 and December 31, 2021, respectively. This increase was primarily a result of customers maintaining higher deposit balances, partially offset by the normal seasonal drawdowns as public entity customers distributed their year-end funds to other organizations. Deposits are summarized below:


(in thousands)	March 31, 2022		December 31, 2021
Noninterest-bearing deposits	$	1,181,136	$	1,149,672
Interest-bearing deposits:
NOW accounts	466,019		503,383
Money market accounts	747,397		733,044
Savings accounts	200,342		191,076
Time deposits less than or equal to $250,000	242,088		243,596
Time deposits greater than $250,000	90,746		89,577
Total interest-bearing deposits	1,746,592		1,760,676
Total deposits	$	2,927,728	$	2,910,348

Stock Repurchase Program (Details) - USD ($) $ in Thousands	3 Months Ended
Stock Repurchase Program (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021	Feb. 04, 2022
Equity [Abstract]
Stock repurchase program, authorized amount			$ 5,000
Stock repurchased (in shares)	4,465
Stock repurchased value	$ 218	$ 1,018
Amount available for repurchasing common stock	$ 4,800

Fair Value (Tables)

3 Months Ended

Mar. 31, 2022

Fair Value Disclosures [Abstract]

Schedule of fair value of assets measured on recurring basis

The table below presents the recorded amount of assets measured at fair value on a recurring basis:


(in thousands)	Fair Value		Level 1		Level 2		Level 3
March 31, 2022
Loans HFS	$	6,641	$	—	$	6,641	$	—
Securities AFS:
Mortgage-backed securities	$	461,488	$	—	$	461,488	$	—
Municipal bonds	$	213,270	$	—	$	213,270	$	—
U.S. Treasury securities	$	129,123	$	—	$	129,123	$	—
U.S. agency securities	$	6,923	$	—	$	6,923	$	—
Equity securities	$	7,481	$	7,481	$	—	$	—

December 31, 2021
Loans HFS	$	4,290	$	—	$	4,290	$	—
Securities AFS:
Mortgage-backed securities	$	379,526	$	—	$	379,526	$	—
Municipal bonds	$	229,971	$	—	$	229,971	$	—
U.S. Treasury securities	$	41,616	$	—	$	41,616	$	—
U.S. agency securities	$	8,065	$	—	$	8,065	$	—
Equity securities	$	7,846	$	7,846	$	—	$	—

Schedule of fair value of assets measured on nonrecurring basis

The table below presents certain impaired loans that were remeasured and reported at fair value through the allowance for loan losses based upon the fair value of the underlying collateral during the reported periods:


	For the three Months Ended
(in thousands)	March 31, 2022		March 31, 2021
Carrying value of impaired loans before allowance for loan losses	$	88	$	—
Specific allowance for loan losses	(15)		—
Fair value of impaired loans	$	73	$	—

Schedule of inputs used for the Level 3 fair value measurement

The unobservable inputs used for the Level 3 fair value measurements on a nonrecurring basis were as follows:

(dollars in thousands)

Fair Value

Valuation Technique

Unobservable Input

Discount Ranges

Weighted Average Discount

March 31, 2022

Impaired loans

4,785

Discounted appraisals

Collateral discounts and costs to sell

0% - 100%

4.14%

Foreclosed assets

660

Discounted appraisals

Collateral discounts and costs to sell

N/A

December 31, 2021

Impaired loans

5,923

Discounted appraisals

Collateral discounts and costs to sell

0% - 100%

3.67%

Foreclosed assets

660

Discounted appraisals

Collateral discounts and costs to sell

N/A

Schedule of carrying amounts and estimated fair values of financial instruments

The carrying amounts and estimated fair values of financial instruments as of March 31, 2022 and December 31, 2021, were as follows:


(in thousands)	Carrying Amount		Fair Value		Level 1		Level 2		Level 3
March 31, 2022
Financial assets:
Cash and due from banks	$	40,137	$	40,137	$	40,137	$	—	$	—
Interest-bearing deposits in other banks	506,982		506,982		506,982		—		—
Securities AFS	810,804		810,804		—		810,804		—
Equity securities	7,481		7,481		7,481		—		—
Nonmarketable equity securities	3,451		3,451		—		3,451		—
Loans HFS	6,641		6,641		—		6,641		—
Loans HFI, net of allowance	1,721,782		1,722,718		—		—		1,722,718
Accrued interest receivable	6,654		6,654		—		—		6,654
Financial liabilities:
Deposits	2,927,728		2,923,564		—		2,923,564		—
Accrued interest payable	1,329		1,329		—		1,329		—

December 31, 2021
Financial assets:
Cash and due from banks	$	23,143	$	23,143	$	23,143	$	—	$	—
Interest-bearing deposits in other banks	761,721		761,721		761,721		—		—
Securities AFS	659,178		659,178		—		659,178		—
Equity securities	7,846		7,846		7,846		—		—
Nonmarketable equity securities	3,450		3,450		—		3,450		—
Loans HFS	4,290		4,290		—		4,290		—
Loans HFI, net of allowance	1,664,656		1,674,900		—		—		1,674,900
Accrued interest receivable	6,245		6,245		—		—		6,245
Financial liabilities:
Deposits	2,910,348		2,911,118		—		2,911,118		—


Accrued interest payable	1,310		1,310		—		1,310		—

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (UNAUDITED) (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Stockholders' Equity [Abstract]
Cash dividends (in dollars per share)	$ 0.07	$ 0.07

Fair Value

3 Months Ended

Mar. 31, 2022

Fair Value Disclosures [Abstract]

Fair Value

The Company uses fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. The fair value of a financial instrument is 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.

Fair Value Disclosure

Securities AFS, loans HFS, and equity securities are recorded at fair value on a recurring basis. Additionally, the Company may be required to record at fair value other assets on a nonrecurring basis, such as impaired loans, foreclosed assets, and other certain assets. The nonrecurring fair value adjustments typically involve application of lower of cost or market accounting or write-downs of individual assets.

ASC 820, Fair Value Measurements and Disclosures indicates that assets and liabilities are recorded at fair value according to a fair value hierarchy comprised of three levels:

•Level 1 pricing represents quotes on the exact financial instrument that is traded in active markets. Quoted prices on actively traded equities, for example, are in this category.

•Level 2 pricing is derived from observable data including market spreads, current and projected rates, prepayment data, and credit quality. The valuation may be based on quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data.

•Level 3 pricing is derived without the use of observable data. In such cases, mark-to-model strategies are typically employed. Often, these types of instruments have no active market, possess unique characteristics, and are thinly traded.

The Company used the following methods and significant assumptions to estimate fair value:

Investment Securities and Equity Securities: The fair values for marketable securities are determined by quoted market prices, if available (Level 1). For securities where quoted prices are not available, fair values are calculated based on market prices of similar securities (Level 2). For securities where quoted prices or market prices of similar securities are not available, fair values are calculated using discounted cash flows or other market indicators (Level 3).

Loans HFS: Residential mortgage loans originated and held for sale are carried at the lower of cost or estimated fair value on an individual basis. The fair values of mortgage loans HFS are based on commitments on hand from investors within the secondary market for loans with similar characteristics. As such, the fair value adjustments for mortgage loans HFS are recurring Level 2.

Loans HFI: The Company does not record loans HFI at fair value on a recurring basis. However, from time to time, a loan may be considered impaired and an allowance for loan losses may be established. Loans for which it is probable that payment of interest and principal will not be made in accordance with the contractual terms of the loan agreement are considered impaired. Once a loan is identified as individually impaired, management measures impairment using estimated fair value methodologies. The fair value of impaired loans is estimated using one of several methods, including collateral value, market value of similar debt, enterprise value, liquidation value, and discounted cash flows. When the fair value of the collateral is based on an observable market price or a current appraised value, the Company considers the impaired loan as nonrecurring Level 2. When an appraised value is not available or management determines the fair value of the collateral is further impaired below the appraised value and there is no observable market price, the Company considers the impaired loan as nonrecurring Level 3.

Foreclosed Assets: Foreclosed assets, consisting of properties obtained through foreclosure or in satisfaction of loans, are reported at fair value, determined on the basis of current appraisals, comparable sales, and other estimates of value obtained principally from independent sources, adjusted for estimated selling costs (Level 2). However, foreclosed assets are considered Level 3 in the fair value hierarchy because management has qualitatively applied a discount due to the size, supply of inventory, and the incremental discounts applied to the appraisals. Management also considers other factors, including changes in absorption rates, length of time the property has been on the market, and anticipated sales values, which have resulted in adjustments to the collateral value estimates indicated in certain appraisals.

Fair Value of Assets Measured on a Recurring Basis

The table below presents the recorded amount of assets measured at fair value on a recurring basis:


(in thousands)	Fair Value		Level 1		Level 2		Level 3
March 31, 2022
Loans HFS	$	6,641	$	—	$	6,641	$	—
Securities AFS:
Mortgage-backed securities	$	461,488	$	—	$	461,488	$	—
Municipal bonds	$	213,270	$	—	$	213,270	$	—
U.S. Treasury securities	$	129,123	$	—	$	129,123	$	—
U.S. agency securities	$	6,923	$	—	$	6,923	$	—
Equity securities	$	7,481	$	7,481	$	—	$	—

December 31, 2021
Loans HFS	$	4,290	$	—	$	4,290	$	—
Securities AFS:
Mortgage-backed securities	$	379,526	$	—	$	379,526	$	—
Municipal bonds	$	229,971	$	—	$	229,971	$	—
U.S. Treasury securities	$	41,616	$	—	$	41,616	$	—
U.S. agency securities	$	8,065	$	—	$	8,065	$	—
Equity securities	$	7,846	$	7,846	$	—	$	—

There were no transfers between Level 1, 2, or 3 for the three months ended March 31, 2022 and the year ended December 31, 2021.

Fair Value of Assets and Liabilities Measured on a Nonrecurring Basis

Financial Assets and Financial Liabilities: Certain financial assets and financial liabilities are measured at fair value on a nonrecurring basis and are subject to fair value adjustments in certain circumstances. Financial assets measured at fair value on a nonrecurring basis include certain impaired collateral dependent loans reported at fair value of the underlying collateral if repayment is expected solely from the collateral. Prior to foreclosure of these loans, fair value of the collateral is estimated using Level 3 inputs based on customized discounting criteria.


	For the three Months Ended
(in thousands)	March 31, 2022		March 31, 2021
Carrying value of impaired loans before allowance for loan losses	$	88	$	—
Specific allowance for loan losses	(15)		—
Fair value of impaired loans	$	73	$	—

The Company had no financial liabilities measured at fair value on a nonrecurring basis for the three months ended March 31, 2022 and March 31, 2021.

Nonfinancial Assets and Liabilities: Certain nonfinancial assets and nonfinancial liabilities are measured at fair value on a nonrecurring basis. These include certain foreclosed assets, which are remeasured and reported at fair value through a charge-off to the allowance for loan losses upon initial recognition as a foreclosed asset. Subsequent to their initial recognition, certain foreclosed assets are remeasured at fair value through an adjustment included in other noninterest income. The fair value of foreclosed assets is estimated using Level 3 inputs based on customized discounting criteria less estimated selling costs.

There were no foreclosed assets that were remeasured at initial recognition for the three months ended March 31, 2022 and March 31, 2021.

There were no foreclosed assets that were remeasured subsequent to initial recognition for the three months ended March 31, 2022 and March 31, 2021.

The Company had no nonfinancial liabilities measured at fair value on a nonrecurring basis for the three months ended March 31, 2022 and March 31, 2021.

The unobservable inputs used for the Level 3 fair value measurements on a nonrecurring basis were as follows:

(dollars in thousands)

Fair Value

Valuation Technique

Unobservable Input

Discount Ranges

Weighted Average Discount

March 31, 2022

Impaired loans

4,785

Discounted appraisals

Collateral discounts and costs to sell

0% - 100%

4.14%

Foreclosed assets

660

Discounted appraisals

Collateral discounts and costs to sell

N/A

December 31, 2021

Impaired loans

5,923

Discounted appraisals

Collateral discounts and costs to sell

0% - 100%

3.67%

Foreclosed assets

660

Discounted appraisals

Collateral discounts and costs to sell

N/A

Fair Value of Financial Instruments

The carrying amounts and estimated fair values of financial instruments as of March 31, 2022 and December 31, 2021, were as follows:


(in thousands)	Carrying Amount		Fair Value		Level 1		Level 2		Level 3
March 31, 2022
Financial assets:
Cash and due from banks	$	40,137	$	40,137	$	40,137	$	—	$	—
Interest-bearing deposits in other banks	506,982		506,982		506,982		—		—
Securities AFS	810,804		810,804		—		810,804		—
Equity securities	7,481		7,481		7,481		—		—
Nonmarketable equity securities	3,451		3,451		—		3,451		—
Loans HFS	6,641		6,641		—		6,641		—
Loans HFI, net of allowance	1,721,782		1,722,718		—		—		1,722,718
Accrued interest receivable	6,654		6,654		—		—		6,654
Financial liabilities:
Deposits	2,927,728		2,923,564		—		2,923,564		—
Accrued interest payable	1,329		1,329		—		1,329		—

December 31, 2021
Financial assets:
Cash and due from banks	$	23,143	$	23,143	$	23,143	$	—	$	—
Interest-bearing deposits in other banks	761,721		761,721		761,721		—		—
Securities AFS	659,178		659,178		—		659,178		—
Equity securities	7,846		7,846		7,846		—		—
Nonmarketable equity securities	3,450		3,450		—		3,450		—
Loans HFS	4,290		4,290		—		4,290		—
Loans HFI, net of allowance	1,664,656		1,674,900		—		—		1,674,900
Accrued interest receivable	6,245		6,245		—		—		6,245
Financial liabilities:
Deposits	2,910,348		2,911,118		—		2,911,118		—


Accrued interest payable	1,310		1,310		—		1,310		—

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Earnings Per Common Share

3 Months Ended

Mar. 31, 2022

Earnings Per Share [Abstract]

Earnings Per Common Share

Earnings Per Common ShareBasic EPS is computed by dividing net income available to common stockholders by the weighted average number of common shares outstanding during the period, after giving retroactive effect to stock splits. Diluted EPS includes accrued but unissued shares relating to the Director Compensation Program and restricted stock determined using the treasury stock method. The dilutive EPS calculation assumes all outstanding stock options to purchase common stock have been exercised at the beginning of the year, and the pro forma proceeds from the exercised options and restricted stock are used to purchase common stock at the average fair market valuation price.

The computations of basic and diluted earnings per common share for the Company were as follows:


	For the Three Months Ended March 31,
(in thousands, except share amounts)	2022		2021
Numerator:
Net income - basic	$	7,392	$	8,065
Net income - diluted	$	7,392	$	8,065

Denominator:
Weighted average shares outstanding - basic	7,179,624		7,317,995
Plus: Effect of Director Compensation Program	369		209
Plus: Effect of restricted stock	18,623		18,947
Weighted average shares outstanding - diluted	7,198,616		7,337,151

Earnings per common share:
Basic	$	1.03	$	1.10
Diluted	$	1.03	$	1.10

Loans and Asset Quality

3 Months Ended

Mar. 31, 2022

Receivables [Abstract]

Loans and Asset Quality

Loans

Loans HFI by category and loans HFS are summarized below:



(in thousands)	March 31, 2022		December 31, 2021
Real estate:
Commercial real estate	$	723,418	$	670,293
One-to-four family residential	484,871		474,420
Construction and development	117,526		106,339
Commercial and industrial	303,556		311,373
SBA PPP, net of deferred income	6,397		17,550
Tax-exempt	81,000		80,726
Consumer	24,258		23,131
Total loans HFI	$	1,741,026	$	1,683,832
Total loans HFS	$	6,641	$	4,290

Allowance for Loan Losses

The following table summarizes the activity in the allowance for loan losses by category for the three months ended March 31, 2022:


(in thousands)	Beginning Balance December 31, 2021		Provision for Loan Losses		Charge-offs		Recoveries		Ending Balance March 31, 2022
Real estate:
Commercial real estate	$	6,749	$	443	$	—	$	—	$	7,192
One-to-four family residential	5,375		(196)		—		3		5,182
Construction and development	1,326		(47)		—		—		1,279
Commercial and industrial	4,440		(118)		(6)		4		4,320
SBA PPP, net of deferred income	25		(16)		—		—		9
Tax-exempt	749		2		—		—		751
Consumer	512		82		(123)		40		511
Total allowance for loan losses	$	19,176	$	150	$	(129)	$	47	$	19,244

The following table summarizes the activity in the allowance for loan losses by category for the twelve months ended December 31, 2021:


(in thousands)	Beginning Balance December 31, 2020		Provision for Loan Losses		Charge-offs		Recoveries		Ending Balance December 31, 2021
Real estate:
Commercial real estate	$	5,798	$	1,401	$	(450)	$	—	$	6,749
One-to-four family residential	5,390		(23)		(10)		18		5,375
Construction and development	1,699		(375)		—		2		1,326
Commercial and industrial	3,631		856		(74)		27		4,440
SBA PPP, net of deferred income	318		(293)		—		—		25
Tax-exempt	680		69		—		—		749
Consumer	435		265		(351)		163		512
Total allowance for loan losses	$	17,951	$	1,900	$	(885)	$	210	$	19,176

The balance in the allowance for loan losses and the related recorded investment in loans by category as of March 31, 2022, are as follows:


(in thousands)	Individually Evaluated for Impairment		Collectively Evaluated for Impairment		Acquired with Deteriorated Credit Quality		Total
Allowance for loan losses:
Real estate:
Commercial real estate	$	34	$	7,158	$	—	$	7,192
One-to-four family residential	—		5,182		—		5,182
Construction and development	—		1,279		—		1,279
Commercial and industrial	42		4,278		—		4,320
SBA PPP, net of deferred income	—		9		—		9
Tax-exempt	—		751		—		751
Consumer	131		380		—		511
Total allowance for loan losses	$	207	$	19,037	$	—	$	19,244

Loans:
Real estate:
Commercial real estate	$	4,265	$	719,153	$	—	$	723,418
One-to-four family residential	427		484,444		—		484,871
Construction and development	—		117,526		—		117,526
Commercial and industrial	163		303,393		—		303,556
SBA PPP, net of deferred income	—		6,397		—		6,397
Tax-exempt	—		81,000		—		81,000
Consumer	137		24,121		—		24,258
Total loans HFI	$	4,992	$	1,736,034	$	—	$	1,741,026

The balance in the allowance for loan losses and the related recorded investment in loans by category as of December 31, 2021, are as follows:


(in thousands)	Individually Evaluated for Impairment		Collectively Evaluated for Impairment		Acquired with Deteriorated Credit Quality		Total
Allowance for loan losses:
Real estate:
Commercial real estate	$	68	$	6,681	$	—	$	6,749
One-to-four family residential	—		5,375		—		5,375
Construction and development	—		1,326		—		1,326
Commercial and industrial	40		4,400		—		4,440
SBA PPP, net of deferred income	—		25		—		25
Tax-exempt	—		749		—		749
Consumer	118		394		—		512
Total allowance for loan losses	$	226	$	18,950	$	—	$	19,176

Loans:
Real estate:
Commercial real estate	$	5,011	$	665,282	$	—	$	670,293
One-to-four family residential	434		473,986		—		474,420
Construction and development	501		105,838		—		106,339
Commercial and industrial	77		311,296		—		311,373
SBA PPP, net of deferred income	—		17,550		—		17,550
Tax-exempt	—		80,726		—		80,726
Consumer	126		23,005		—		23,131
Total loans HFI	$	6,149	$	1,677,683	$	—	$	1,683,832

Past Due and Nonaccrual Loans

A summary of current, past due, and nonaccrual loans as of March 31, 2022, is as follows:


	Accruing
(in thousands)	Current		30-89 Days Past Due		90 Days or More Past Due		Nonaccrual		Total Loans
Real estate:
Commercial real estate	$	723,370	$	—	$	—	$	48	$	723,418
One-to-four family residential	484,197		465		—		209		484,871
Construction and development	117,465		22		39		—		117,526
Commercial and industrial	303,390		154		—		12		303,556
SBA PPP, net of deferred income	6,397		—		—		—		6,397
Tax-exempt	81,000		—		—		—		81,000
Consumer	24,206		47		5		—		24,258
Total loans HFI	$	1,740,025	$	688	$	44	$	269	$	1,741,026

A summary of current, past due, and nonaccrual loans as of December 31, 2021, is as follows:


	Accruing
(in thousands)	Current		30-89 Days Past Due		90 Days or More Past Due		Nonaccrual		Total Loans
Real estate:
Commercial real estate	$	669,781	$	461	$	—	$	51	$	670,293
One-to-four family residential	473,658		546		—		216		474,420
Construction and development	106,300		—		39		—		106,339
Commercial and industrial	311,321		39		—		13		311,373
SBA PPP, net of deferred income	17,550		—		—		—		17,550
Tax-exempt	80,726		—		—		—		80,726
Consumer	23,121		10		—		—		23,131
Total loans HFI	$	1,682,457	$	1,056	$	39	$	280	$	1,683,832

Impaired Loans

Impaired loans include TDRs and performing and nonperforming loans. Information pertaining to impaired loans as of March 31, 2022, is as follows:


(in thousands)	Unpaid Principal Balance		Recorded Investment		Related Allowance		Average Recorded Investment
With no related allowance recorded:
Real estate:
Commercial real estate	$	3,535	$	3,530	$	—	$	2,563
One-to-four family residential	478		427		—		431
Construction and development	—		—		—		250
Commercial and industrial	91		91		—		45
SBA PPP, net of deferred income	—		—		—		—
Tax-exempt	—		—		—		—
Consumer	6		6		—		7
Total with no related allowance	4,110		4,054		—		3,296
With allowance recorded:
Real estate:
Commercial real estate	735		735		34		2,076
One-to-four family residential	—		—		—		—
Construction and development	—		—		—		—
Commercial and industrial	81		72		42		74
SBA PPP, net of deferred income	—		—		—		—
Tax-exempt	—		—		—		—
Consumer	131		131		131		125
Total with related allowance	947		938		207		2,275
Total impaired loans	$	5,057	$	4,992	$	207	$	5,571

Information pertaining to impaired loans as of December 31, 2021, is as follows:


(in thousands)	Unpaid Principal Balance		Recorded Investment		Related Allowance		Average Recorded Investment
With no related allowance recorded:
Real estate:
Commercial real estate	$	1,599	$	1,595	$	—	$	1,969
One-to-four family residential	483		434		—		539
Construction and development	501		501		—		400
Commercial and industrial	—		—		—		355
SBA PPP, net of deferred income	—		—		—		—
Tax-exempt	—		—		—		—
Consumer	8		8		—		4
Total with no related allowance	2,591		2,538		—		3,267
With allowance recorded:
Real estate:
Commercial real estate	3,416		3,416		68		2,111
One-to-four family residential	—		—		—		145
Construction and development	—		—		—		—
Commercial and industrial	85		77		40		1,570
SBA PPP, net of deferred income	—		—		—		—
Tax-exempt	—		—		—		—
Consumer	118		118		118		112
Total with related allowance	3,619		3,611		226		3,938
Total impaired loans	$	6,210	$	6,149	$	226	$	7,205

The interest income recognized on impaired loans for the three months ended March 31, 2022 and March 31, 2021, was $54,000 and $65,000, respectively.

Troubled Debt Restructurings

The restructuring of a loan is considered a TDR if the borrower is experiencing financial difficulties and the bank has granted a concession. Concessions grant terms to the borrower that would not be offered for new debt with similar risk characteristics. Concessions typically include interest rate reductions or below market interest rates, revising amortization schedules to defer principal and interest payments, and other changes necessary to provide payment relief to the borrower and minimize the risk of loss. There were no unfunded commitments to extend credit related to these loans as of March 31, 2022 or December 31, 2021.

A summary of current, past due, and nonaccrual TDR loans as of March 31, 2022, is as follows:


(dollars in thousands)	Current		30-89 Days Past Due		90 Days or More Past Due		Nonaccrual(1)		Total TDRs
Real estate:
Commercial real estate	$	3,598	$	—	$	—	$	—	$	3,598
One-to-four family residential	285		—		—		—		285
Construction and development	—		—		—		—		—
Commercial and industrial	—		—		—		—		—
SBA PPP, net of deferred income	—		—		—		—		—
Tax-exempt	—		—		—		—		—
Consumer	17		—		—		—		17
Total	$	3,900	$	—	$	—	$	—	$	3,900
Number of TDR loans	11		—		—		1		12

(1)This loan has a contractual obligation to the Company despite carrying a zero balance.

A summary of current, past due, and nonaccrual TDR loans as of December 31, 2021, is as follows:


(dollars in thousands)	Current		30-89 Days Past Due		90 Days or More Past Due		Nonaccrual(1)		Total TDRs
Real estate:
Commercial real estate	$	3,634	$	—	$	—	$	—	$	3,634
One-to-four family residential	289		—		—		—		289
Construction and development	—		—		—		—		—
Commercial and industrial	—		—		—		—		—
SBA PPP, net of deferred income	—		—		—		—		—
Tax-exempt	—		—		—		—		—
Consumer	21		—		—		—		21
Total	$	3,944	$	—	$	—	$	—	$	3,944
Number of TDR loans	11		—		—		1		12

(1)This loan has a contractual obligation to the Company despite carrying a zero balance.

There were no loans modified as TDRs during the three months ended March 31, 2022 and March 31, 2021. Additionally, there were no defaults on loans during the three months ended March 31, 2022 or March 31, 2021, that had been modified as a TDR during the prior twelve months.

Credit Quality Indicators

Loans are categorized based on the degree of risk inherent in the credit and the ability of the borrower to service the debt. A description of the general characteristics of the Bank’s risk rating grades follows:

Pass - These loans are of satisfactory quality and do not require a more severe classification.

Special Mention - This category includes loans with potential weaknesses that deserve management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan.

Substandard - Loans in this category have well-defined weaknesses that jeopardize normal repayment of principal and interest.

Doubtful - Loans in this category have well-defined weaknesses that make full collection improbable.

Loss - Loans classified in this category are considered uncollectible and charged-off to the allowance for loan losses.

The following table summarizes loans by risk rating as of March 31, 2022:


(in thousands)	Pass		Special Mention		Substandard		Doubtful		Loss		Total
Real estate:
Commercial real estate	$	719,993	$	489	$	2,936	$	—	$	—	$	723,418
One-to-four family residential	483,971		316		584		—		—		484,871
Construction and development	117,526		—		—		—		—		117,526
Commercial and industrial	298,078		2,678		2,800		—		—		303,556
SBA PPP, net of deferred income	6,397		—		—		—		—		6,397
Tax-exempt	81,000		—		—		—		—		81,000
Consumer	24,119		17		122		—		—		24,258
Total loans HFI	$	1,731,084	$	3,500	$	6,442	$	—	$	—	$	1,741,026

The following table summarizes loans by risk rating as of December 31, 2021:


(in thousands)	Pass		Special Mention		Substandard		Doubtful		Loss		Total
Real estate:
Commercial real estate	$	666,838	$	499	$	2,956	$	—	$	—	$	670,293
One-to-four family residential	473,638		321		461		—		—		474,420
Construction and development	105,838		—		501		—		—		106,339
Commercial and industrial	306,925		1,551		2,897		—		—		311,373
SBA PPP, net of deferred income	17,550		—		—		—		—		17,550
Tax-exempt	80,726		—		—		—		—		80,726
Consumer	23,003		21		107		—		—		23,131
Total loans HFI	$	1,674,518	$	2,392	$	6,922	$	—	$	—	$	1,683,832

Commitments to Extend Credit

Commitments to extend credit are agreements to lend to a customer if all conditions of the commitment have been met. Commitments generally have fixed expiration dates or other termination clauses and may require the payment of a fee. Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. The Company evaluates each customer’s creditworthiness on a case-by-case basis. The amount of collateral obtained, if it is deemed necessary by the Company upon extension of credit, is based on management’s evaluation of the customer’s ability to repay. As of March 31, 2022, unfunded loan commitments totaled approximately $356.4 million. As of December 31, 2021, unfunded loan commitments totaled approximately $357.9 million.

Standby letters of credit are conditional commitments issued by the Company to guarantee the performance of a customer to a third party. Those guarantees are primarily issued to support public and private borrowing arrangements, including commercial paper, bond financing, and similar transactions. As of March 31, 2022, commitments under standby letters of credit totaled approximately $13.9 million. As of December 31, 2021, commitments under standby letters of credit totaled approximately $12.5 million. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loan facilities to customers.

Regulatory Capital Requirements - Schedule of Regulatory Requirements (Details) $ in Thousands	Mar. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Red River Bank
Total Risk-Based Capital
Actual Amount	$ 313,342	$ 305,771
Actual Ratio (percent)	0.1659	0.1706
Regulatory Requirements, Minimum, Amount	$ 151,090	$ 143,372
Regulatory Requirements, Minimum, Ratio (percent)	0.0800	0.0800
Regulatory Requirements, Minimum Plus CCB, Amount	$ 198,306	$ 188,176
Regulatory Requirements, Minimum Plus CCB, Ratio (percent)	0.1050	0.1050
Tier I Risk-Based Capital
Actual Amount	$ 294,098	$ 286,595
Actual Ratio (percent)	0.1557	0.1599
Regulatory Requirements, Minimum, Amount	$ 113,318	$ 107,529
Regulatory Requirements, Minimum, Ratio (percent)	0.0600	0.0600
Regulatory Requirements, Minimum Plus CCB, Amount	$ 160,534	$ 152,333
Regulatory Requirements, Minimum Plus CCB, Ratio (percent)	0.0850	0.0850
Common Equity Tier I Capital
Actual Amount	$ 294,098	$ 286,595
Actual Ratio (percent)	0.1557	0.1599
Regulatory Requirements, Minimum, Amount	$ 84,988	$ 80,647
Regulatory Requirements, Minimum, Ratio (percent)	0.0450	0.0450
Regulatory Requirements, Minimum Plus CCB, Amount	$ 132,204	$ 125,451
Regulatory Requirements, Minimum Plus CCB, Ratio (percent)	0.0700	0.0700
Tier I Leverage Capital
Actual Amount	$ 294,098	$ 286,595
Actual Ratio (percent)	0.0910	0.0923
Regulatory Requirements, Minimum, Amount	$ 129,204	$ 124,241
Regulatory Requirements, Minimum, Ratio (percent)	0.0400	0.0400
Regulatory Requirements, Minimum Plus CCB, Amount	$ 129,204	$ 124,241
Regulatory Requirements, Minimum Plus CCB, Ratio (percent)	0.0400	0.0400
Red River Bancshares, Inc.
Total Risk-Based Capital
Actual Amount	$ 326,391	$ 319,553
Actual Ratio (percent)	0.1728	0.1783
Tier I Risk-Based Capital
Actual Amount	$ 307,147	$ 300,377
Actual Ratio (percent)	0.1626	0.1676
Common Equity Tier I Capital
Actual Amount	$ 307,147	$ 300,377
Actual Ratio (percent)	0.1626	0.1676
Tier I Leverage Capital
Actual Amount	$ 307,147	$ 300,377
Actual Ratio (percent)	0.0951	0.0967

Regulatory Capital Requirements (Tables)

3 Months Ended

Mar. 31, 2022

Regulatory Capital Requirements Under Banking Regulations [Abstract]

Schedule of compliance with regulatory capital requirements under banking regulations

Capital amounts and ratios for Red River Bank as of March 31, 2022 and December 31, 2021, are presented in the following table:


					Regulatory Requirements
	Actual				Minimum				Minimum Plus CCB
(dollars in thousands)	Amount		Ratio		Amount		Ratio		Amount		Ratio
March 31, 2022
Total Risk-Based Capital	$	313,342	16.59	%	$	151,090	8.00	%	$	198,306	10.50	%
Tier I Risk-Based Capital	$	294,098	15.57	%	$	113,318	6.00	%	$	160,534	8.50	%
Common Equity Tier I Capital	$	294,098	15.57	%	$	84,988	4.50	%	$	132,204	7.00	%
Tier I Leverage Capital	$	294,098	9.10	%	$	129,204	4.00	%	$	129,204	4.00	%

December 31, 2021
Total Risk-Based Capital	$	305,771	17.06	%	$	143,372	8.00	%	$	188,176	10.50	%
Tier I Risk-Based Capital	$	286,595	15.99	%	$	107,529	6.00	%	$	152,333	8.50	%
Common Equity Tier I Capital	$	286,595	15.99	%	$	80,647	4.50	%	$	125,451	7.00	%
Tier I Leverage Capital	$	286,595	9.23	%	$	124,241	4.00	%	$	124,241	4.00	%

Capital amounts and ratios for Red River Bancshares, Inc. as of March 31, 2022 and December 31, 2021, are presented in the following table:


	Actual
(dollars in thousands)	Amount		Ratio
March 31, 2022
Total Risk-Based Capital	$	326,391	17.28	%
Tier I Risk-Based Capital	$	307,147	16.26	%
Common Equity Tier I Capital	$	307,147	16.26	%
Tier I Leverage Capital	$	307,147	9.51	%

December 31, 2021
Total Risk-Based Capital	$	319,553	17.83	%
Tier I Risk-Based Capital	$	300,377	16.76	%
Common Equity Tier I Capital	$	300,377	16.76	%
Tier I Leverage Capital	$	300,377	9.67	%

Summary of Significant Accounting Policies (Policies)	3 Months Ended
Summary of Significant Accounting Policies (Policies)	Mar. 31, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of PresentationThe accompanying unaudited consolidated financial statements of the Company were prepared in accordance with GAAP for interim financial information, general practices within the financial services industry, and instructions for Form 10-Q and Regulation S-X. Accordingly, these interim financial statements do not include all of the information or footnotes required by GAAP for annual financial statements. However, in the opinion of management, all adjustments (consisting of normal recurring adjustments) necessary for a fair presentation of the financial statements have been included. The results of operations for the interim periods disclosed herein are not necessarily indicative of the results that may be expected for the entire fiscal year. These statements should be read in conjunction with the Company’s audited consolidated financial statements and notes thereto for the year ended December 31, 2021, included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021.
Reclassification	Certain prior period amounts have been reclassified to conform to the current period presentation. These changes in presentation did not have a material impact on the Company’s financial condition or results of operations.
Critical Accounting Policies and Estimates	Critical Accounting Policies and Estimates There were no material changes or developments during the reporting period with respect to methodologies the Company uses when applying critical accounting policies and developing critical accounting estimates as disclosed in Note 1 of the notes to the audited consolidated financial statements for the year ended December 31, 2021, that were included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021. In preparing the financial statements, the Company is required to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. The financial statements reflect all adjustments that are, in the opinion of management, necessary for a fair statement of the Company’s financial condition, results of operations, comprehensive income, changes in stockholders’ equity, and cash flows for the interim period presented. These adjustments are of a normal recurring nature and include appropriate estimated provisions.
Accounting Standards Adopted in 2022 and Recent Accounting Pronouncements	Accounting Standards Adopted in 2022 ASU No. 2021-05, Leases (Topic 842): Lessors - Certain Leases with Variable Lease Payments. The guidance issued in this update addressed lessors’ concerns by amending the lease classification requirements. The amendments in this update address an issue related to a lessor’s accounting for certain leases with variable lease payments. Lessors should classify and account for a lease with variable lease payments that do not depend on a reference index or a rate as an operating lease if two criteria are met. Those criteria are that the lease would have been classified as a sales-type lease or a direct financing lease in accordance with GAAP, and that the lessor would have otherwise recognized a day-one loss. ASU 2021-05 was adopted as of January 1, 2022, and did not have a material impact on the Company’s consolidated financial statements. Recent Accounting Pronouncements ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. ASU 2016-13 sets forth the CECL model requiring the Company to measure all expected credit losses for financial instruments held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. ASU 2016-13 requires enhanced disclosures related to the significant estimates and judgments used in estimating credit losses. In addition, the update amends the accounting for credit losses on AFS securities. As an SEC registrant with smaller reporting company filing status as determined on June 30, 2019, CECL is effective for the Company on January 1, 2023. The Company continues to evaluate the impact of this ASU on the consolidated financial statements and disclosures. In that regard, the Company has formed a cross-functional working group and is currently working through an implementation plan. The implementation plan includes an assessment of data, model development and documentation, documentation of processes, and implementation of a third-party vendor solution to assist in the adoption of ASU 2016-13. ASU No. 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. The amendments in this update address how to determine whether a contract liability is recognized by the acquirer in a business combination. The amendment also resolves the inconsistency of post-acquisition revenue recognition by providing specific guidance on how to recognize and measure acquired contract assets and contract liabilities from revenue contracts in a business combination. This update is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. This standard will be adopted by the Company on January 1, 2023. The adoption of this guidance is not expected to have a material impact on the Company’s consolidated financial statements. ASU No. 2022-02 Financial Instruments – Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures. The guidance issued in this update eliminates the accounting guidance for TDRs by creditors in Subtopic 310-40, Receivables – Troubled Debt Restructurings by Creditors, but also enhances the disclosure requirements for certain loan refinancings and restructurings by creditors when a borrower is experiencing financial difficulty. The guidance requires that an entity disclose current-period gross write-offs by year of origination for financing receivables and net investments in leases within the scope of Subtopic 326-20, Financial Instruments – Credit Losses – Measured at Amortized Cost. This standard is effective for the Company on January 1, 2023. The adoption of this guidance is not expected to have a material impact on the Company’s consolidated financial statements.

Securities - Schedule of Proceeds from Sale Of Securities AFS and Their Gains (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Proceeds	$ 8,074	$ 64,769
Gross gain	39	442
Gross loss	$ 0	$ (283)

Fair Value - Assets Measured on Recurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	$ 810,804	$ 659,178
Equity securities, at fair value	7,481	7,846
Mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	461,488	379,526
Municipal bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	213,270	229,971
U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	129,123	41,616
U.S. agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	6,923	8,065
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans HFS	0	0
Securities AFS	0	0
Equity securities, at fair value	7,481	7,846
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans HFS	6,641	4,290
Securities AFS	810,804	659,178
Equity securities, at fair value	0	0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans HFS	0	0
Securities AFS	0	0
Equity securities, at fair value	0	0
Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans HFS	6,641	4,290
Equity securities, at fair value	7,481	7,846
Recurring \| Mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	461,488	379,526
Recurring \| Municipal bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	213,270	229,971
Recurring \| U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	129,123	41,616
Recurring \| U.S. agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	6,923	8,065
Recurring \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans HFS	0	0
Equity securities, at fair value	7,481	7,846
Recurring \| Level 1 \| Mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	0	0
Recurring \| Level 1 \| Municipal bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	0	0
Recurring \| Level 1 \| U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	0	0
Recurring \| Level 1 \| U.S. agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	0	0
Recurring \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans HFS	6,641	4,290
Equity securities, at fair value	0	0
Recurring \| Level 2 \| Mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	461,488	379,526
Recurring \| Level 2 \| Municipal bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	213,270	229,971
Recurring \| Level 2 \| U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	129,123	41,616
Recurring \| Level 2 \| U.S. agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	6,923	8,065
Recurring \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans HFS	0	0
Equity securities, at fair value	0	0
Recurring \| Level 3 \| Mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	0	0
Recurring \| Level 3 \| Municipal bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	0	0
Recurring \| Level 3 \| U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	0	0
Recurring \| Level 3 \| U.S. agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	$ 0	$ 0

Summary of Significant Accounting Policies	3 Months Ended
Summary of Significant Accounting Policies	Mar. 31, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation The accompanying unaudited consolidated financial statements of the Company were prepared in accordance with GAAP for interim financial information, general practices within the financial services industry, and instructions for Form 10-Q and Regulation S-X. Accordingly, these interim financial statements do not include all of the information or footnotes required by GAAP for annual financial statements. However, in the opinion of management, all adjustments (consisting of normal recurring adjustments) necessary for a fair presentation of the financial statements have been included. The results of operations for the interim periods disclosed herein are not necessarily indicative of the results that may be expected for the entire fiscal year. These statements should be read in conjunction with the Company’s audited consolidated financial statements and notes thereto for the year ended December 31, 2021, included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021. Certain prior period amounts have been reclassified to conform to the current period presentation. These changes in presentation did not have a material impact on the Company’s financial condition or results of operations. Critical Accounting Policies and Estimates There were no material changes or developments during the reporting period with respect to methodologies the Company uses when applying critical accounting policies and developing critical accounting estimates as disclosed in Note 1 of the notes to the audited consolidated financial statements for the year ended December 31, 2021, that were included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021. In preparing the financial statements, the Company is required to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. The financial statements reflect all adjustments that are, in the opinion of management, necessary for a fair statement of the Company’s financial condition, results of operations, comprehensive income, changes in stockholders’ equity, and cash flows for the interim period presented. These adjustments are of a normal recurring nature and include appropriate estimated provisions. Accounting Standards Adopted in 2022 ASU No. 2021-05, Leases (Topic 842): Lessors - Certain Leases with Variable Lease Payments. The guidance issued in this update addressed lessors’ concerns by amending the lease classification requirements. The amendments in this update address an issue related to a lessor’s accounting for certain leases with variable lease payments. Lessors should classify and account for a lease with variable lease payments that do not depend on a reference index or a rate as an operating lease if two criteria are met. Those criteria are that the lease would have been classified as a sales-type lease or a direct financing lease in accordance with GAAP, and that the lessor would have otherwise recognized a day-one loss. ASU 2021-05 was adopted as of January 1, 2022, and did not have a material impact on the Company’s consolidated financial statements. Recent Accounting Pronouncements ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. ASU 2016-13 sets forth the CECL model requiring the Company to measure all expected credit losses for financial instruments held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. ASU 2016-13 requires enhanced disclosures related to the significant estimates and judgments used in estimating credit losses. In addition, the update amends the accounting for credit losses on AFS securities. As an SEC registrant with smaller reporting company filing status as determined on June 30, 2019, CECL is effective for the Company on January 1, 2023. The Company continues to evaluate the impact of this ASU on the consolidated financial statements and disclosures. In that regard, the Company has formed a cross-functional working group and is currently working through an implementation plan. The implementation plan includes an assessment of data, model development and documentation, documentation of processes, and implementation of a third-party vendor solution to assist in the adoption of ASU 2016-13. ASU No. 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. The amendments in this update address how to determine whether a contract liability is recognized by the acquirer in a business combination. The amendment also resolves the inconsistency of post-acquisition revenue recognition by providing specific guidance on how to recognize and measure acquired contract assets and contract liabilities from revenue contracts in a business combination. This update is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. This standard will be adopted by the Company on January 1, 2023. The adoption of this guidance is not expected to have a material impact on the Company’s consolidated financial statements. ASU No. 2022-02 Financial Instruments – Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures. The guidance issued in this update eliminates the accounting guidance for TDRs by creditors in Subtopic 310-40, Receivables – Troubled Debt Restructurings by Creditors, but also enhances the disclosure requirements for certain loan refinancings and restructurings by creditors when a borrower is experiencing financial difficulty. The guidance requires that an entity disclose current-period gross write-offs by year of origination for financing receivables and net investments in leases within the scope of Subtopic 326-20, Financial Instruments – Credit Losses – Measured at Amortized Cost. This standard is effective for the Company on January 1, 2023. The adoption of this guidance is not expected to have a material impact on the Company’s consolidated financial statements.

CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
INTEREST AND DIVIDEND INCOME
Interest and fees on loans	$ 16,770	$ 17,165
Interest on securities	2,962	1,890
Interest on federal funds sold	25	22
Interest on deposits in other banks	251	100
Dividends on stock	1	1
Total Interest and Dividend Income	20,009	19,178
INTEREST EXPENSE
Interest on deposits	1,281	1,587
Total Interest Expense	1,281	1,587
Net Interest Income	18,728	17,591
Provision for loan losses	150	1,450
Net Interest Income After Provision for Loan Losses	18,578	16,141
NONINTEREST INCOME
Service charges on deposit accounts	1,308	1,059
Debit card income, net	936	1,046
Mortgage loan income	1,127	2,882
Brokerage income	775	834
Loan and deposit income	371	473
Bank-owned life insurance income	172	133
Gain (Loss) on equity securities	(365)	(70)
Gain (Loss) on sale and call of securities	39	159
SBIC income	20	241
Other income (loss)	19	18
Total Noninterest Income	4,402	6,775
OPERATING EXPENSES
Personnel expenses	8,452	8,021
Occupancy and equipment expenses	1,492	1,278
Technology expenses	771	665
Advertising	219	183
Other business development expenses	303	299
Data processing expense	316	385
Other taxes	636	525
Loan and deposit expenses	130	255
Legal and professional expenses	418	368
Regulatory assessment expenses	250	201
Other operating expenses	1,075	983
Total Operating Expenses	14,062	13,163
Income Before Income Tax Expense	8,918	9,753
Income tax expense	1,526	1,688
Net Income	$ 7,392	$ 8,065
EARNINGS PER SHARE
Basic (in dollars per share)	$ 1.03	$ 1.10
Diluted (in dollars per share)	$ 1.03	$ 1.10

Loans and Asset Quality (Tables)

3 Months Ended

Mar. 31, 2022

Receivables [Abstract]

Schedule of loans information

Loans HFI by category and loans HFS are summarized below:



(in thousands)	March 31, 2022		December 31, 2021
Real estate:
Commercial real estate	$	723,418	$	670,293
One-to-four family residential	484,871		474,420
Construction and development	117,526		106,339
Commercial and industrial	303,556		311,373
SBA PPP, net of deferred income	6,397		17,550
Tax-exempt	81,000		80,726
Consumer	24,258		23,131
Total loans HFI	$	1,741,026	$	1,683,832
Total loans HFS	$	6,641	$	4,290

Schedule of allowance for credit losses

The following table summarizes the activity in the allowance for loan losses by category for the three months ended March 31, 2022:


(in thousands)	Beginning Balance December 31, 2021		Provision for Loan Losses		Charge-offs		Recoveries		Ending Balance March 31, 2022
Real estate:
Commercial real estate	$	6,749	$	443	$	—	$	—	$	7,192
One-to-four family residential	5,375		(196)		—		3		5,182
Construction and development	1,326		(47)		—		—		1,279
Commercial and industrial	4,440		(118)		(6)		4		4,320
SBA PPP, net of deferred income	25		(16)		—		—		9
Tax-exempt	749		2		—		—		751
Consumer	512		82		(123)		40		511
Total allowance for loan losses	$	19,176	$	150	$	(129)	$	47	$	19,244

The following table summarizes the activity in the allowance for loan losses by category for the twelve months ended December 31, 2021:


(in thousands)	Beginning Balance December 31, 2020		Provision for Loan Losses		Charge-offs		Recoveries		Ending Balance December 31, 2021
Real estate:
Commercial real estate	$	5,798	$	1,401	$	(450)	$	—	$	6,749
One-to-four family residential	5,390		(23)		(10)		18		5,375
Construction and development	1,699		(375)		—		2		1,326
Commercial and industrial	3,631		856		(74)		27		4,440
SBA PPP, net of deferred income	318		(293)		—		—		25
Tax-exempt	680		69		—		—		749
Consumer	435		265		(351)		163		512
Total allowance for loan losses	$	17,951	$	1,900	$	(885)	$	210	$	19,176

The balance in the allowance for loan losses and the related recorded investment in loans by category as of March 31, 2022, are as follows:


(in thousands)	Individually Evaluated for Impairment		Collectively Evaluated for Impairment		Acquired with Deteriorated Credit Quality		Total
Allowance for loan losses:
Real estate:
Commercial real estate	$	34	$	7,158	$	—	$	7,192
One-to-four family residential	—		5,182		—		5,182
Construction and development	—		1,279		—		1,279
Commercial and industrial	42		4,278		—		4,320
SBA PPP, net of deferred income	—		9		—		9
Tax-exempt	—		751		—		751
Consumer	131		380		—		511
Total allowance for loan losses	$	207	$	19,037	$	—	$	19,244

Loans:
Real estate:
Commercial real estate	$	4,265	$	719,153	$	—	$	723,418
One-to-four family residential	427		484,444		—		484,871
Construction and development	—		117,526		—		117,526
Commercial and industrial	163		303,393		—		303,556
SBA PPP, net of deferred income	—		6,397		—		6,397
Tax-exempt	—		81,000		—		81,000
Consumer	137		24,121		—		24,258
Total loans HFI	$	4,992	$	1,736,034	$	—	$	1,741,026

The balance in the allowance for loan losses and the related recorded investment in loans by category as of December 31, 2021, are as follows:


(in thousands)	Individually Evaluated for Impairment		Collectively Evaluated for Impairment		Acquired with Deteriorated Credit Quality		Total
Allowance for loan losses:
Real estate:
Commercial real estate	$	68	$	6,681	$	—	$	6,749
One-to-four family residential	—		5,375		—		5,375
Construction and development	—		1,326		—		1,326
Commercial and industrial	40		4,400		—		4,440
SBA PPP, net of deferred income	—		25		—		25
Tax-exempt	—		749		—		749
Consumer	118		394		—		512
Total allowance for loan losses	$	226	$	18,950	$	—	$	19,176

Loans:
Real estate:
Commercial real estate	$	5,011	$	665,282	$	—	$	670,293
One-to-four family residential	434		473,986		—		474,420
Construction and development	501		105,838		—		106,339
Commercial and industrial	77		311,296		—		311,373
SBA PPP, net of deferred income	—		17,550		—		17,550
Tax-exempt	—		80,726		—		80,726
Consumer	126		23,005		—		23,131
Total loans HFI	$	6,149	$	1,677,683	$	—	$	1,683,832

Schedule of financing receivable past due

A summary of current, past due, and nonaccrual loans as of March 31, 2022, is as follows:


	Accruing
(in thousands)	Current		30-89 Days Past Due		90 Days or More Past Due		Nonaccrual		Total Loans
Real estate:
Commercial real estate	$	723,370	$	—	$	—	$	48	$	723,418
One-to-four family residential	484,197		465		—		209		484,871
Construction and development	117,465		22		39		—		117,526
Commercial and industrial	303,390		154		—		12		303,556
SBA PPP, net of deferred income	6,397		—		—		—		6,397
Tax-exempt	81,000		—		—		—		81,000
Consumer	24,206		47		5		—		24,258
Total loans HFI	$	1,740,025	$	688	$	44	$	269	$	1,741,026

A summary of current, past due, and nonaccrual loans as of December 31, 2021, is as follows:


	Accruing
(in thousands)	Current		30-89 Days Past Due		90 Days or More Past Due		Nonaccrual		Total Loans
Real estate:
Commercial real estate	$	669,781	$	461	$	—	$	51	$	670,293
One-to-four family residential	473,658		546		—		216		474,420
Construction and development	106,300		—		39		—		106,339
Commercial and industrial	311,321		39		—		13		311,373
SBA PPP, net of deferred income	17,550		—		—		—		17,550
Tax-exempt	80,726		—		—		—		80,726
Consumer	23,121		10		—		—		23,131
Total loans HFI	$	1,682,457	$	1,056	$	39	$	280	$	1,683,832

Schedule of impaired financing receivable

Information pertaining to impaired loans as of March 31, 2022, is as follows:


(in thousands)	Unpaid Principal Balance		Recorded Investment		Related Allowance		Average Recorded Investment
With no related allowance recorded:
Real estate:
Commercial real estate	$	3,535	$	3,530	$	—	$	2,563
One-to-four family residential	478		427		—		431
Construction and development	—		—		—		250
Commercial and industrial	91		91		—		45
SBA PPP, net of deferred income	—		—		—		—
Tax-exempt	—		—		—		—
Consumer	6		6		—		7
Total with no related allowance	4,110		4,054		—		3,296
With allowance recorded:
Real estate:
Commercial real estate	735		735		34		2,076
One-to-four family residential	—		—		—		—
Construction and development	—		—		—		—
Commercial and industrial	81		72		42		74
SBA PPP, net of deferred income	—		—		—		—
Tax-exempt	—		—		—		—
Consumer	131		131		131		125
Total with related allowance	947		938		207		2,275
Total impaired loans	$	5,057	$	4,992	$	207	$	5,571

Information pertaining to impaired loans as of December 31, 2021, is as follows:


(in thousands)	Unpaid Principal Balance		Recorded Investment		Related Allowance		Average Recorded Investment
With no related allowance recorded:
Real estate:
Commercial real estate	$	1,599	$	1,595	$	—	$	1,969
One-to-four family residential	483		434		—		539
Construction and development	501		501		—		400
Commercial and industrial	—		—		—		355
SBA PPP, net of deferred income	—		—		—		—
Tax-exempt	—		—		—		—
Consumer	8		8		—		4
Total with no related allowance	2,591		2,538		—		3,267
With allowance recorded:
Real estate:
Commercial real estate	3,416		3,416		68		2,111
One-to-four family residential	—		—		—		145
Construction and development	—		—		—		—
Commercial and industrial	85		77		40		1,570
SBA PPP, net of deferred income	—		—		—		—
Tax-exempt	—		—		—		—
Consumer	118		118		118		112
Total with related allowance	3,619		3,611		226		3,938
Total impaired loans	$	6,210	$	6,149	$	226	$	7,205

Schedule of TDRs

A summary of current, past due, and nonaccrual TDR loans as of March 31, 2022, is as follows:


(dollars in thousands)	Current		30-89 Days Past Due		90 Days or More Past Due		Nonaccrual(1)		Total TDRs
Real estate:
Commercial real estate	$	3,598	$	—	$	—	$	—	$	3,598
One-to-four family residential	285		—		—		—		285
Construction and development	—		—		—		—		—
Commercial and industrial	—		—		—		—		—
SBA PPP, net of deferred income	—		—		—		—		—
Tax-exempt	—		—		—		—		—
Consumer	17		—		—		—		17
Total	$	3,900	$	—	$	—	$	—	$	3,900
Number of TDR loans	11		—		—		1		12

(1)This loan has a contractual obligation to the Company despite carrying a zero balance.

A summary of current, past due, and nonaccrual TDR loans as of December 31, 2021, is as follows:


(dollars in thousands)	Current		30-89 Days Past Due		90 Days or More Past Due		Nonaccrual(1)		Total TDRs
Real estate:
Commercial real estate	$	3,634	$	—	$	—	$	—	$	3,634
One-to-four family residential	289		—		—		—		289
Construction and development	—		—		—		—		—
Commercial and industrial	—		—		—		—		—
SBA PPP, net of deferred income	—		—		—		—		—
Tax-exempt	—		—		—		—		—
Consumer	21		—		—		—		21
Total	$	3,944	$	—	$	—	$	—	$	3,944
Number of TDR loans	11		—		—		1		12

(1)This loan has a contractual obligation to the Company despite carrying a zero balance.

Schedule of financing receivable by credit risk

The following table summarizes loans by risk rating as of March 31, 2022:


(in thousands)	Pass		Special Mention		Substandard		Doubtful		Loss		Total
Real estate:
Commercial real estate	$	719,993	$	489	$	2,936	$	—	$	—	$	723,418
One-to-four family residential	483,971		316		584		—		—		484,871
Construction and development	117,526		—		—		—		—		117,526
Commercial and industrial	298,078		2,678		2,800		—		—		303,556
SBA PPP, net of deferred income	6,397		—		—		—		—		6,397
Tax-exempt	81,000		—		—		—		—		81,000
Consumer	24,119		17		122		—		—		24,258
Total loans HFI	$	1,731,084	$	3,500	$	6,442	$	—	$	—	$	1,741,026

The following table summarizes loans by risk rating as of December 31, 2021:


(in thousands)	Pass		Special Mention		Substandard		Doubtful		Loss		Total
Real estate:
Commercial real estate	$	666,838	$	499	$	2,956	$	—	$	—	$	670,293
One-to-four family residential	473,638		321		461		—		—		474,420
Construction and development	105,838		—		501		—		—		106,339
Commercial and industrial	306,925		1,551		2,897		—		—		311,373
SBA PPP, net of deferred income	17,550		—		—		—		—		17,550
Tax-exempt	80,726		—		—		—		—		80,726
Consumer	23,003		21		107		—		—		23,131
Total loans HFI	$	1,674,518	$	2,392	$	6,922	$	—	$	—	$	1,683,832

Loans and Asset Quality - Schedule of Allowance for Loan Losses and the Related Recorded Investment in Loans by Category (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Allowance for loan losses:
Individually Evaluated for Impairment	$ 207	$ 226
Collectively Evaluated for Impairment	19,037	18,950
Loans and Leases Receivable, Allowance	19,244	19,176	$ 17,951
Loans:
Individually Evaluated for Impairment	4,992	6,149
Collectively Evaluated for Impairment	1,736,034	1,677,683
Loans held for investment	1,741,026	1,683,832
Acquired with Deteriorated Credit Quality
Allowance for loan losses:
Loans and Leases Receivable, Allowance	0	0
Loans:
Loans held for investment	0	0
Real estate \| Commercial real estate
Allowance for loan losses:
Individually Evaluated for Impairment	34	68
Collectively Evaluated for Impairment	7,158	6,681
Loans and Leases Receivable, Allowance	7,192	6,749	5,798
Loans:
Individually Evaluated for Impairment	4,265	5,011
Collectively Evaluated for Impairment	719,153	665,282
Loans held for investment	723,418	670,293
Real estate \| Commercial real estate \| Acquired with Deteriorated Credit Quality
Allowance for loan losses:
Loans and Leases Receivable, Allowance	0	0
Loans:
Loans held for investment	0	0
Real estate \| One-to-four family residential
Allowance for loan losses:
Individually Evaluated for Impairment	0	0
Collectively Evaluated for Impairment	5,182	5,375
Loans and Leases Receivable, Allowance	5,182	5,375	5,390
Loans:
Individually Evaluated for Impairment	427	434
Collectively Evaluated for Impairment	484,444	473,986
Loans held for investment	484,871	474,420
Real estate \| One-to-four family residential \| Acquired with Deteriorated Credit Quality
Allowance for loan losses:
Loans and Leases Receivable, Allowance	0	0
Loans:
Loans held for investment	0	0
Real estate \| Construction and development
Allowance for loan losses:
Individually Evaluated for Impairment	0	0
Collectively Evaluated for Impairment	1,279	1,326
Loans and Leases Receivable, Allowance	1,279	1,326	1,699
Loans:
Individually Evaluated for Impairment	0	501
Collectively Evaluated for Impairment	117,526	105,838
Loans held for investment	117,526	106,339
Real estate \| Construction and development \| Acquired with Deteriorated Credit Quality
Allowance for loan losses:
Loans and Leases Receivable, Allowance	0	0
Loans:
Loans held for investment	0	0
Commercial and industrial
Allowance for loan losses:
Individually Evaluated for Impairment	42	40
Collectively Evaluated for Impairment	4,278	4,400
Loans and Leases Receivable, Allowance	4,320	4,440	3,631
Loans:
Individually Evaluated for Impairment	163	77
Collectively Evaluated for Impairment	303,393	311,296
Loans held for investment	303,556	311,373
Commercial and industrial \| Acquired with Deteriorated Credit Quality
Allowance for loan losses:
Loans and Leases Receivable, Allowance	0	0
Loans:
Loans held for investment	0	0
SBA PPP, net of deferred income
Allowance for loan losses:
Individually Evaluated for Impairment	0	0
Collectively Evaluated for Impairment	9	25
Loans and Leases Receivable, Allowance	9	25	318
Loans:
Individually Evaluated for Impairment	0	0
Collectively Evaluated for Impairment	6,397	17,550
Loans held for investment	6,397	17,550
SBA PPP, net of deferred income \| Acquired with Deteriorated Credit Quality
Allowance for loan losses:
Loans and Leases Receivable, Allowance	0	0
Loans:
Loans held for investment	0	0
Tax-exempt
Allowance for loan losses:
Individually Evaluated for Impairment	0	0
Collectively Evaluated for Impairment	751	749
Loans and Leases Receivable, Allowance	751	749	680
Loans:
Individually Evaluated for Impairment	0	0
Collectively Evaluated for Impairment	81,000	80,726
Loans held for investment	81,000	80,726
Tax-exempt \| Acquired with Deteriorated Credit Quality
Allowance for loan losses:
Loans and Leases Receivable, Allowance	0	0
Loans:
Loans held for investment	0	0
Consumer
Allowance for loan losses:
Individually Evaluated for Impairment	131	118
Collectively Evaluated for Impairment	380	394
Loans and Leases Receivable, Allowance	511	512	$ 435
Loans:
Individually Evaluated for Impairment	137	126
Collectively Evaluated for Impairment	24,121	23,005
Loans held for investment	24,258	23,131
Consumer \| Acquired with Deteriorated Credit Quality
Allowance for loan losses:
Loans and Leases Receivable, Allowance	0	0
Loans:
Loans held for investment	$ 0	$ 0

Loans and Asset Quality - Summary of Current, Past Due, and Nonaccrual TDR Loans (Details)			3 Months Ended
	Sep. 30, 2021 loan	Dec. 31, 2020 loan	Mar. 31, 2022 USD ($) loan	Mar. 31, 2021 loan	Dec. 31, 2021 USD ($)
TDR
Current			$ 3,900,000		$ 3,944,000
Nonaccrual			0		0
Total TDRs			$ 3,900,000		3,944,000
Number of TDR loans
Current \| loan	11	11
Nonaccrual(1) \| loan	1	1
Total TDRs \| loan	12	12	0	0
30-89 Days Past Due
TDR
Past Due			$ 0		0
Number of TDR loans
Past Due \| loan	0	0
90 Days or More Past Due
TDR
Past Due			0		0
Number of TDR loans
Past Due \| loan	0	0
Real estate \| Commercial real estate
TDR
Current			3,598,000		3,634,000
Nonaccrual			0		0
Total TDRs			3,598,000		3,634,000
Real estate \| Commercial real estate \| 30-89 Days Past Due
TDR
Past Due			0		0
Real estate \| Commercial real estate \| 90 Days or More Past Due
TDR
Past Due			0		0
Real estate \| One-to-four family residential
TDR
Current			285,000		289,000
Nonaccrual			0		0
Total TDRs			285,000		289,000
Real estate \| One-to-four family residential \| 30-89 Days Past Due
TDR
Past Due			0		0
Real estate \| One-to-four family residential \| 90 Days or More Past Due
TDR
Past Due			0		0
Real estate \| Construction and development
TDR
Current			0		0
Nonaccrual			0		0
Total TDRs			0		0
Real estate \| Construction and development \| 30-89 Days Past Due
TDR
Past Due			0		0
Real estate \| Construction and development \| 90 Days or More Past Due
TDR
Past Due			0		0
Commercial and industrial
TDR
Current			0		0
Nonaccrual			0		0
Total TDRs			0		0
Commercial and industrial \| 30-89 Days Past Due
TDR
Past Due			0		0
Commercial and industrial \| 90 Days or More Past Due
TDR
Past Due			0		0
SBA PPP, net of deferred income
TDR
Current			0		0
Nonaccrual			0		0
Total TDRs			0		0
SBA PPP, net of deferred income \| 30-89 Days Past Due
TDR
Past Due			0		0
SBA PPP, net of deferred income \| 90 Days or More Past Due
TDR
Past Due			0		0
Tax-exempt
TDR
Current			0		0
Nonaccrual			0		0
Total TDRs			0		0
Tax-exempt \| 30-89 Days Past Due
TDR
Past Due			0		0
Tax-exempt \| 90 Days or More Past Due
TDR
Past Due			0		0
Consumer
TDR
Current			17,000		21,000
Nonaccrual			0		0
Total TDRs			17,000		21,000
Consumer \| 30-89 Days Past Due
TDR
Past Due			0		0
Consumer \| 90 Days or More Past Due
TDR
Past Due			$ 0		$ 0

Fair Value - Assets Measured on Nonrecurring Basis (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Specific allowance for loan losses	$ (150)		$ (1,900)
Remeasured Loans \| Nonrecurring \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying value of impaired loans before allowance for loan losses	88	$ 0
Specific allowance for loan losses	(15)	0
Fair value of impaired loans	$ 73	$ 0

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 7,392	$ 8,065
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation	502	464
Amortization	164	150
Share-based compensation earned	63	93
Share-based board compensation earned	20	12
(Gain) Loss on other assets owned	26	7
Net (accretion) amortization on securities AFS	600	827
(Gain) Loss on sale and call of securities	(39)	(159)
Provision for loan losses	150	1,450
Deferred income tax (benefit) expense	(200)	(561)
Net (increase) decrease in loans HFS	(2,351)	10,667
Net (increase) decrease in accrued interest receivable	(409)	420
Net (increase) decrease in BOLI	(172)	(133)
Net increase (decrease) in accrued interest payable	19	(75)
Net increase (decrease) in accrued income taxes payable	1,802	2,265
Other operating activities, net	1,260	563
Net cash provided by (used in) operating activities	8,827	24,055
Activity in securities AFS:
Sales	0	64,769
Maturities, principal repayments, and calls	29,810	30,822
Purchases	(232,688)	(123,175)
Purchase of nonmarketable equity securities	(1)	0
Net (increase) decrease in loans HFI	(57,276)	(13,664)
Proceeds from sales of foreclosed assets	0	96
Purchases of premises and equipment	(3,077)	(490)
Net cash provided by (used in) investing activities	(263,232)	(41,642)
CASH FLOWS FROM FINANCING ACTIVITIES
Net increase (decrease) in deposits	17,380	174,915
Repurchase of common stock	(218)	(1,018)
Cash dividends	(502)	(511)
Net cash provided by (used in) financing activities	16,660	173,386
Net change in cash and cash equivalents	(237,745)	155,799
Cash and cash equivalents - beginning of period	784,864	447,201
Cash and cash equivalents - end of period	547,119	603,000
Cash paid during the year for:
Interest	$ 1,263	$ 1,662

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 7,392	$ 8,065
Other comprehensive income (loss):
Unrealized net gain (loss) on securities arising during period	(50,652)	(9,021)
Tax effect	10,637	1,895
(Gain) Loss on sale and call of securities included in net income	(39)	(159)
Tax effect	8	33
Total other comprehensive income (loss)	(40,046)	(7,252)
Comprehensive Income (Loss)	$ (32,654)	$ 813

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22595-107794

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(18))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123482062&loc=SL123482106-238011

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=124431353&loc=SL124452729-227067

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
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+ Details

Loans and Asset Quality - Narrative (Details)			3 Months Ended
Loans and Asset Quality - Narrative (Details)	Sep. 30, 2021 loan	Dec. 31, 2020 USD ($) loan	Mar. 31, 2022 USD ($) loan	Mar. 31, 2021 USD ($) loan	Dec. 31, 2021 USD ($)
Financing Receivable, Troubled Debt Restructuring [Line Items]
Interest income on impaired loans			$ 54,000	$ 65,000
Increase for allowance for loan losses		$ 17,951,000	$ 19,244,000		$ 19,176,000
Loans modified as TDRs \| loan	12	12	0	0
Defaults on loans			$ 0	$ 0
Unfunded Loan Commitment
Financing Receivable, Troubled Debt Restructuring [Line Items]
Other commitments			356,400,000		357,900,000
Standby Letters of Credit
Financing Receivable, Troubled Debt Restructuring [Line Items]
Other commitments			$ 13,900,000		$ 12,500,000

- Definition

Amount of allowance for credit loss on financing receivable. Excludes allowance for financing receivable covered under loss sharing agreement.

+ References + Details

Securities - Schedule of Securities With Gross Unrealized Losses (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Less than twelve months
Gross Unrealized Losses	$ (38,788)	$ (7,757)
Fair Value	632,984	380,567
Twelve months or more
Gross Unrealized Losses	(16,923)	(1,857)
Fair Value	136,765	49,748
Mortgage-backed securities
Less than twelve months
Gross Unrealized Losses	(20,405)	(6,627)
Fair Value	338,846	282,705
Twelve months or more
Gross Unrealized Losses	(14,416)	(1,833)
Fair Value	119,990	47,171
Municipal bonds
Less than twelve months
Gross Unrealized Losses	(15,753)	(918)
Fair Value	158,997	51,333
Twelve months or more
Gross Unrealized Losses	(2,412)	(24)
Fair Value	15,870	2,577
U.S. Treasury securities
Less than twelve months
Gross Unrealized Losses	(2,385)	(154)
Fair Value	129,123	41,616
Twelve months or more
Gross Unrealized Losses	0	0
Fair Value	0	0
U.S. agency securities
Less than twelve months
Gross Unrealized Losses	(245)	(58)
Fair Value	6,018	4,913
Twelve months or more
Gross Unrealized Losses	(95)	0
Fair Value	$ 905	$ 0

Securities - Schedule of AFS Debt Securities, By Maturity Date (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Amortized Cost
Within one year	$ 10,395
After one year but within five years	158,281
After five years but within ten years	86,136
After ten years	611,459
Amortized Cost	866,271	$ 663,954
Fair Value
Within one year	10,381
After one year but within five years	155,439
After five years but within ten years	82,829
After ten years	562,155
Fair Value	$ 810,804