falsedesktopSRCE2020-09-30000003478220000133{"tbl_sim": "https://q10k.com/tbl-sim", "search": "https://q10k.com/search"}{"q10k_tbl_0": "\t\tPage\nPART I. FINANCIAL INFORMATION\t\t\t\t\t\nItem 1.\tFinancial Statements (Unaudited)\t\n\tConsolidated Statements of Financial Condition - September 30 2020 and December 31 2019\t3\n\tConsolidated Statements of Income - three and nine months ended September 30 2020 and 2019\t4\n\tConsolidated Statements of Comprehensive Income - three and nine months ended September 30 2020 and 2019\t5\n\tConsolidated Statements of Shareholders' Equity - three and nine months ended September 30 2020 and 2019\t6\n\tConsolidated Statements of Cash Flows - nine months ended September 30 2020 and 2019\t7\n\tNotes to the Consolidated Financial Statements\t8\nItem 2.\tManagement's Discussion and Analysis of Financial Condition and Results of Operations\t31\nItem 3.\tQuantitative and Qualitative Disclosures About Market Risk\t46\nItem 4.\tControls and Procedures\t46\nPART II. OTHER INFORMATION\t\t\t\t\t\nItem 1.\tLegal Proceedings\t46\nItem 1A.\tRisk Factors\t46\nItem 2.\tUnregistered Sales of Equity Securities and Use of Proceeds\t47\nItem 3.\tDefaults Upon Senior Securities\t47\nItem 4.\tMine Safety Disclosures\t47\nItem 5.\tOther Information\t47\nItem 6.\tExhibits\t48\nSIGNATURES\t\t\t49\t\t\nEXHIBITS\t\t\t\t\t\n\tExhibit 31.1\t\n\tExhibit 31.2\t\n\tExhibit 32.1\t\n\tExhibit 32.2\t\n", "q10k_tbl_1": "\tSeptember 30 2020\tDecember 31 2019\nASSETS\t\t\nCash and due from banks\t62575\t67215\nFederal funds sold and interest bearing deposits with other banks\t91641\t16150\nInvestment securities available-for-sale\t1083427\t1040583\nOther investments\t27674\t28414\nMortgages held for sale\t20990\t20277\nLoans and leases net of unearned discount:\t\t\nCommercial and agricultural\t1681519\t1132791\nAuto and light truck\t527582\t588807\nMedium and heavy duty truck\t271248\t294824\nAircraft\t806162\t784040\nConstruction equipment\t723596\t705451\nCommercial real estate\t961550\t908177\nResidential real estate and home equity\t519881\t532003\nConsumer\t135498\t139434\nTotal loans and leases\t5627036\t5085527\nReserve for loan and lease losses\t(136817)\t(111254)\nNet loans and leases\t5490219\t4974273\nEquipment owned under operating leases net\t79703\t111684\nNet premises and equipment\t49933\t52219\nGoodwill and intangible assets\t83953\t83971\nAccrued income and other assets\t300834\t227990\nTotal assets\t7290949\t6622776\nLIABILITIES\t\t\nDeposits:\t\t\nNoninterest-bearing demand\t1720768\t1216834\nInterest-bearing deposits:\t\t\nInterest-bearing demand\t1885771\t1677200\nSavings\t992320\t814794\nTime\t1297996\t1648498\nTotal interest-bearing deposits\t4176087\t4140492\nTotal deposits\t5896855\t5357326\nShort-term borrowings:\t\t\nFederal funds purchased and securities sold under agreements to repurchase\t158834\t120459\nOther short-term borrowings\t6740\t25434\nTotal short-term borrowings\t165574\t145893\nLong-term debt and mandatorily redeemable securities\t81659\t71639\nSubordinated notes\t58764\t58764\nAccrued expenses and other liabilities\t173082\t140518\nTotal liabilities\t6375934\t5774140\nSHAREHOLDERS' EQUITY\t\t\nPreferred stock; no par value\t\t\nAuthorized 10000000 shares; none issued or outstanding\t0\t0\nCommon stock; no par value\t\t\nAuthorized 40000000 shares; issued 28205674 at September 30 2020 and December 31 2019\t436538\t436538\nRetained earnings\t497419\t463269\nCost of common stock in treasury (2652030 shares at September 30 2020 and 2696200 shares at December 31 2019)\t(75861)\t(76702)\nAccumulated other comprehensive income\t19658\t5172\nTotal shareholders' equity\t877754\t828277\nNoncontrolling interests\t37261\t20359\nTotal equity\t915015\t848636\nTotal liabilities and equity\t7290949\t6622776\n", "q10k_tbl_2": "\tThree Months Ended September 30\t\t\tNine Months Ended September 30\n\t2020\t2019\t2020\t2019\nInterest income:\t\t\t\t\nLoans and leases\t58318\t66807\t178659\t195089\nInvestment securities taxable\t4103\t5056\t14140\t15757\nInvestment securities tax-exempt\t207\t316\t703\t1054\nOther\t289\t497\t951\t1434\nTotal interest income\t62917\t72676\t194453\t213334\nInterest expense:\t\t\t\t\nDeposits\t6532\t13524\t25648\t37972\nShort-term borrowings\t83\t293\t427\t1764\nSubordinated notes\t824\t914\t2543\t2770\nLong-term debt and mandatorily redeemable securities\t610\t750\t2122\t2258\nTotal interest expense\t8049\t15481\t30740\t44764\nNet interest income\t54868\t57195\t163713\t168570\nProvision for loan and lease losses\t9303\t3717\t31031\t12882\nNet interest income after provision for loan and lease losses\t45565\t53478\t132682\t155688\nNoninterest income:\t\t\t\t\nTrust and wealth advisory\t5153\t4982\t15590\t15423\nService charges on deposit accounts\t2336\t2892\t6851\t8175\nDebit card\t4019\t3727\t10993\t10616\nMortgage banking\t6474\t1362\t12125\t3297\nInsurance commissions\t1825\t1603\t5401\t5295\nEquipment rental\t5593\t7578\t18213\t23369\nGains on investment securities available-for-sale\t0\t0\t279\t0\nOther\t2641\t3621\t8452\t9378\nTotal noninterest income\t28041\t25765\t77904\t75553\nNoninterest expense:\t\t\t\t\nSalaries and employee benefits\t25609\t24434\t74009\t71716\nNet occupancy\t2512\t2635\t7737\t7888\nFurniture and equipment\t6247\t6027\t18912\t18340\nDepreciation - leased equipment\t4694\t6198\t15263\t19122\nProfessional fees\t2041\t1603\t4741\t4907\nSupplies and communication\t1305\t1643\t4329\t4744\nFDIC and other insurance\t868\t260\t1755\t1513\nBusiness development and marketing\t923\t1844\t3403\t4471\nLoan and lease collection and repossession\t1054\t697\t2655\t2288\nOther\t1790\t1765\t5599\t4674\nTotal noninterest expense\t47043\t47106\t138403\t139663\nIncome before income taxes\t26563\t32137\t72183\t91578\nIncome tax expense\t6509\t7689\t17185\t21517\nNet income\t20054\t24448\t54998\t70061\nNet loss (income) attributable to noncontrolling interests\t4\t(10)\t(25)\t(42)\nNet income available to common shareholders\t20058\t24438\t54973\t70019\nPer common share:\t\t\t\t\nBasic net income per common share\t0.78\t0.95\t2.14\t2.72\nDiluted net income per common share\t0.78\t0.95\t2.14\t2.72\nCash dividends\t0.28\t0.27\t0.85\t0.81\nBasic weighted average common shares outstanding\t25552374\t25520035\t25538910\t25630771\nDiluted weighted average common shares outstanding\t25552374\t25520035\t25538910\t25630771\n", "q10k_tbl_3": "\tThree Months Ended September 30\t\t\tNine Months Ended September 30\n\t2020\t2019\t2020\t2019\nNet income\t20054\t24448\t54998\t70061\nOther comprehensive income:\t\t\t\t\nUnrealized (depreciation) appreciation of available-for-sale securities\t(303)\t2920\t19360\t20161\nReclassification adjustment for realized gains included in net income\t0\t0\t(279)\t0\nIncome tax effect\t73\t(703)\t(4595)\t(4855)\nOther comprehensive (loss) income net of tax\t(230)\t2217\t14486\t15306\nComprehensive income\t19824\t26665\t69484\t85367\nComprehensive loss (income) attributable to noncontrolling interests\t4\t(10)\t(25)\t(42)\nComprehensive income available to common shareholders\t19828\t26655\t69459\t85325\n", "q10k_tbl_4": "\tThree Months Ended\t\t\t\t\t\t\t\n\tPreferred Stock\tCommon Stock\tRetained Earnings\tCost of Common Stock in Treasury\tAccumulated Other Comprehensive Income (Loss) Net\tTotal Shareholders' Equity\tNoncontrolling Interests\tTotal Equity\nBalance at July 1 2019\t0\t436538\t431091\t(75380)\t2413\t794662\t10024\t804686\nNet income\t0\t0\t24438\t0\t0\t24438\t10\t24448\nOther comprehensive income\t0\t0\t0\t0\t2217\t2217\t0\t2217\nIssuance of 3544 common shares under stock based compensation awards\t0\t0\t91\t70\t0\t161\t0\t161\nCost of 30000 shares of common stock acquired for treasury\t0\t0\t0\t(1406)\t0\t(1406)\t0\t(1406)\nCommon stock dividend ($0.27 per share)\t0\t0\t(6905)\t0\t0\t(6905)\t0\t(6905)\nContributions from noncontrolling interests\t0\t0\t0\t0\t0\t0\t9879\t9879\nDistributions to noncontrolling interests\t0\t0\t0\t0\t0\t0\t(38)\t(38)\nBalance at September 30 2019\t0\t436538\t448715\t(76716)\t4630\t813167\t19875\t833042\nBalance at July 1 2020\t0\t436538\t484491\t(75922)\t19888\t864995\t36658\t901653\nNet income (loss)\t0\t0\t20058\t0\t0\t20058\t(4)\t20054\nOther comprehensive loss\t0\t0\t0\t0\t(230)\t(230)\t0\t(230)\nIssuance of 3289 common shares under stock based compensation awards\t0\t0\t52\t61\t0\t113\t0\t113\nCost of 0 shares of common stock acquired for treasury\t0\t0\t0\t0\t0\t0\t0\t0\nCommon stock dividend ($0.28 per share)\t0\t0\t(7182)\t0\t0\t(7182)\t0\t(7182)\nContributions from noncontrolling interests\t0\t0\t0\t0\t0\t0\t928\t928\nDistributions to noncontrolling interests\t0\t0\t0\t0\t0\t0\t(321)\t(321)\nBalance at September 30 2020\t0\t436538\t497419\t(75861)\t19658\t877754\t37261\t915015\n", "q10k_tbl_5": "\tNine Months Ended\t\t\t\t\t\t\t\n\tPreferred Stock\tCommon Stock\tRetained Earnings\tCost of Common Stock in Treasury\tAccumulated Other Comprehensive Income (Loss) Net\tTotal Shareholders' Equity\tNoncontrolling Interests\tTotal Equity\nBalance at January 1 2019\t0\t436538\t398980\t(62760)\t(10676)\t762082\t1508\t763590\nCumulative-effect adjustment\t0\t0\t(301)\t0\t0\t(301)\t0\t(301)\nBalance at January 1 2019 adjusted\t0\t436538\t398679\t(62760)\t(10676)\t761781\t1508\t763289\nNet income\t0\t0\t70019\t0\t0\t70019\t42\t70061\nOther comprehensive income\t0\t0\t0\t0\t15306\t15306\t0\t15306\nIssuance of 50815 common shares under stock based compensation awards\t0\t0\t841\t1129\t0\t1970\t0\t1970\nCost of 325787 shares of common stock acquired for treasury\t0\t0\t0\t(15085)\t0\t(15085)\t0\t(15085)\nCommon stock dividend ($0.81 per share)\t0\t0\t(20824)\t0\t0\t(20824)\t0\t(20824)\nContributions from noncontrolling interests\t0\t0\t0\t0\t0\t0\t18363\t18363\nDistributions to noncontrolling interests\t0\t0\t0\t0\t0\t0\t(38)\t(38)\nBalance at September 30 2019\t0\t436538\t448715\t(76716)\t4630\t813167\t19875\t833042\nBalance at January 1 2020\t0\t436538\t463269\t(76702)\t5172\t828277\t20359\t848636\nNet income\t0\t0\t54973\t0\t0\t54973\t25\t54998\nOther comprehensive income\t0\t0\t0\t0\t14486\t14486\t0\t14486\nIssuance of 44170 common shares under stock based compensation awards\t0\t0\t934\t841\t0\t1775\t0\t1775\nCost of 0 shares of common stock acquired for treasury\t0\t0\t0\t0\t0\t0\t0\t0\nCommon stock dividend ($0.85 per share)\t0\t0\t(21757)\t0\t0\t(21757)\t0\t(21757)\nContributions from noncontrolling interests\t0\t0\t0\t0\t0\t0\t17369\t17369\nDistributions to noncontrolling interests\t0\t0\t0\t0\t0\t0\t(492)\t(492)\nBalance at September 30 2020\t0\t436538\t497419\t(75861)\t19658\t877754\t37261\t915015\n", "q10k_tbl_6": "\tNine Months Ended September 30\t\n\t2020\t2019\nOperating activities:\t\t\nNet income\t54998\t70061\nAdjustments to reconcile net income to net cash provided by operating activities:\t\t\nProvision for loan and lease losses\t31031\t12882\nDepreciation of premises and equipment\t4255\t4412\nDepreciation of equipment owned and leased to others\t15263\t19122\nStock-based compensation\t2377\t2069\nAmortization of investment securities premiums and accretion of discounts net\t4238\t2857\nAmortization of mortgage servicing rights\t1757\t879\nMortgage servicing rights impairments\t808\t0\nAmortization of right of use assets\t2115\t2348\nDeferred income taxes\t(10509)\t(4586)\nGains on investment securities available-for-sale\t(279)\t0\nOriginations of loans held for sale net of principal collected\t(248639)\t(100903)\nProceeds from the sales of loans held for sale\t258253\t85400\nNet gain on sale of loans held for sale\t(10327)\t(1861)\nNet gain on sale of other real estate and repossessions\t(73)\t(473)\nNet gain on sale of premises and equipment\t0\t(1289)\nChange in interest receivable\t(2440)\t(1717)\nChange in interest payable\t(6271)\t5885\nChange in other assets\t2312\t7889\nChange in other liabilities\t(2906)\t8763\nOther\t1049\t1348\nNet change in operating activities\t97012\t113086\nInvesting activities:\t\t\nProceeds from sales of investment securities available-for-sale\t8403\t0\nProceeds from maturities and paydowns of investment securities available-for-sale\t301050\t128257\nPurchases of investment securities available-for-sale\t(337175)\t(153310)\nNet change in partnership investments\t(31298)\t(29823)\nNet change in other investments\t740\t0\nLoans sold or participated to others\t10722\t50140\nProceeds from principal payments on direct finance leases\t35384\t56798\nProceeds from PPP lender origination fees\t19375\t0\nNet change in loans and leases\t(615427)\t(386170)\nNet change in equipment owned under operating leases\t16691\t(3975)\nPurchases of premises and equipment\t(1988)\t(6091)\nProceeds from disposal of premises and equipment\t19\t3427\nProceeds from sales of other real estate and repossessions\t6303\t9522\nNet change in investing activities\t(587201)\t(331225)\nFinancing activities:\t\t\nNet change in demand deposits and savings accounts\t890031\t17518\nNet change in time deposits\t(350502)\t251839\nNet change in short-term borrowings\t19681\t(2193)\nProceeds from issuance of long-term debt\t10000\t0\nPayments on long-term debt\t(2710)\t(2499)\nStock issued under stock purchase plans\t39\t49\nAcquisition of treasury stock\t0\t(15085)\nNet change in noncontrolling interests\t16877\t18325\nCash dividends paid on common stock\t(22376)\t(21409)\nNet change in financing activities\t561040\t246545\nNet change in cash and cash equivalents\t70851\t28406\nCash and cash equivalents beginning of year\t83365\t99079\nCash and cash equivalents end of period\t154216\t127485\nSupplemental Information:\t\t\nNon-cash transactions:\t\t\nLoans transferred to other real estate and repossessed assets\t2969\t10740\nCommon stock matching contribution to Employee Stock Ownership and Profit Sharing Plan\t622\t300\nRight of use assets obtained in exchange for lease obligations\t253\t16006\n", "q10k_tbl_7": "(Dollars in thousands)\tAmortized Cost\tGross Unrealized Gains\tGross Unrealized Losses\tFair Value\nSeptember 30 2020\t\t\t\t\nU.S. Treasury and Federal agencies securities\t557262\t10954\t(208)\t568008\nU.S. States and political subdivisions securities\t66323\t2423\t(13)\t68733\nMortgage-backed securities - Federal agencies\t392427\t11154\t(91)\t403490\nCorporate debt securities\t40822\t1674\t0\t42496\nForeign government and other securities\t700\t0\t0\t700\nTotal debt securities available-for-sale\t1057534\t26205\t(312)\t1083427\nDecember 31 2019\t\t\t\t\nU.S. Treasury and Federal agencies securities\t524896\t2538\t(470)\t526964\nU.S. States and political subdivisions securities\t83566\t1048\t(109)\t84505\nMortgage-backed securities - Federal agencies\t372458\t3948\t(1017)\t375389\nCorporate debt securities\t52151\t890\t(16)\t53025\nForeign government and other securities\t700\t0\t0\t700\nTotal debt securities available-for-sale\t1033771\t8424\t(1612)\t1040583\n", "q10k_tbl_8": "(Dollars in thousands)\tAmortized Cost\tFair Value\nDue in one year or less\t126626\t127388\nDue after one year through five years\t454199\t468075\nDue after five years through ten years\t83702\t83903\nDue after ten years\t580\t571\nMortgage-backed securities\t392427\t403490\nTotal debt securities available-for-sale\t1057534\t1083427\n", "q10k_tbl_9": "\tLess than 12 Months\t\t\t12 months or Longer\t\t\tTotal\n(Dollars in thousands)\tFair Value\tUnrealized Losses\tFair Value\tUnrealized Losses\tFair Value\tUnrealized Losses\nSeptember 30 2020\t\t\t\t\t\t\nU.S. Treasury and Federal agencies securities\t47792\t(208)\t0\t0\t47792\t(208)\nU.S. States and political subdivisions securities\t857\t(13)\t0\t0\t857\t(13)\nMortgage-backed securities - Federal agencies\t45256\t(85)\t3245\t(6)\t48501\t(91)\nCorporate debt securities\t0\t0\t0\t0\t0\t0\nForeign government and other securities\t200\t0\t0\t0\t200\t0\nTotal debt securities available-for-sale\t94105\t(306)\t3245\t(6)\t97350\t(312)\nDecember 31 2019\t\t\t\t\t\t\nU.S. Treasury and Federal agencies securities\t87352\t(171)\t69053\t(299)\t156405\t(470)\nU.S. States and political subdivisions securities\t9283\t(107)\t1042\t(2)\t10325\t(109)\nMortgage-backed securities - Federal agencies\t81951\t(383)\t51165\t(634)\t133116\t(1017)\nCorporate debt securities\t0\t0\t8091\t(16)\t8091\t(16)\nForeign government and other securities\t0\t0\t0\t0\t0\t0\nTotal debt securities available-for-sale\t178586\t(661)\t129351\t(951)\t307937\t(1612)\n", "q10k_tbl_10": "\tThree Months Ended September 30\t\t\tNine Months Ended September 30\n(Dollars in thousands)\t2020\t2019\t2020\t2019\nGross realized gains\t0\t0\t285\t0\nGross realized losses\t0\t0\t(6)\t0\nOTTI losses\t0\t0\t0\t0\nNet realized gains (losses)\t0\t0\t279\t0\n", "q10k_tbl_11": "\tCredit Quality Grades\t\t\n(Dollars in thousands)\t1-6\t7-12\tTotal\nSeptember 30 2020\t\t\t\nCommercial and agricultural\t1617272\t64247\t1681519\nAuto and light truck\t470744\t56838\t527582\nMedium and heavy duty truck\t269070\t2178\t271248\nAircraft\t782656\t23506\t806162\nConstruction equipment\t671254\t52342\t723596\nCommercial real estate\t932782\t28768\t961550\nTotal\t4743778\t227879\t4971657\nDecember 31 2019\t\t\t\nCommercial and agricultural\t1080933\t51858\t1132791\nAuto and light truck\t569234\t19573\t588807\nMedium and heavy duty truck\t293736\t1088\t294824\nAircraft\t764564\t19476\t784040\nConstruction equipment\t668076\t37375\t705451\nCommercial real estate\t888154\t20023\t908177\nTotal\t4264697\t149393\t4414090\n*Paycheck Protection Program (PPP) loans are included in the Commercial and agricultural category in the Grades 1-6 column above.\t\t\t\t\t\t\t\t\t\n", "q10k_tbl_12": "(Dollars in thousands)\tPerforming\tNonperforming\tTotal\nSeptember 30 2020\t\t\t\nResidential real estate and home equity\t518127\t1754\t519881\nConsumer\t135074\t424\t135498\nTotal\t653201\t2178\t655379\nDecember 31 2019\t\t\t\nResidential real estate and home equity\t529557\t2446\t532003\nConsumer\t138951\t483\t139434\nTotal\t668508\t2929\t671437\n", "q10k_tbl_13": "(Dollars in thousands)\tCurrent\t30-59 Days Past Due\t60-89 Days Past Due\t90 Days or More Past Due and Accruing\tTotal Accruing Loans\tNonaccrual\tTotal Financing Receivables\nSeptember 30 2020\t\t\t\t\t\t\t\nCommercial and agricultural\t1679388\t49\t574\t0\t1680011\t1508\t1681519\nAuto and light truck\t488688\t682\t302\t0\t489672\t37910\t527582\nMedium and heavy duty truck\t270211\t93\t0\t0\t270304\t944\t271248\nAircraft\t793451\t6837\t3921\t0\t804209\t1953\t806162\nConstruction equipment\t697020\t1633\t321\t0\t698974\t24622\t723596\nCommercial real estate\t959816\t173\t0\t0\t959989\t1561\t961550\nResidential real estate and home equity\t517233\t875\t19\t80\t518207\t1674\t519881\nConsumer\t134222\t779\t73\t1\t135075\t423\t135498\nTotal\t5540029\t11121\t5210\t81\t5556441\t70595\t5627036\nDecember 31 2019\t\t\t\t\t\t\t\nCommercial and agricultural\t1131704\t118\t0\t0\t1131822\t969\t1132791\nAuto and light truck\t586212\t1268\t77\t0\t587557\t1250\t588807\nMedium and heavy duty truck\t293736\t14\t0\t0\t293750\t1074\t294824\nAircraft\t772846\t7026\t3293\t0\t783165\t875\t784040\nConstruction equipment\t702671\t819\t609\t0\t704099\t1352\t705451\nCommercial real estate\t906468\t58\t0\t0\t906526\t1651\t908177\nResidential real estate and home equity\t528844\t561\t152\t257\t529814\t2189\t532003\nConsumer\t138132\t632\t187\t54\t139005\t429\t139434\nTotal\t5060613\t10496\t4318\t311\t5075738\t9789\t5085527\n", "q10k_tbl_14": "(Dollars in thousands)\tRecorded Investment\tUnpaid Principal Balance\tRelated Reserve\nSeptember 30 2020\t\t\t\nWith no related reserve recorded:\t\t\t\nCommercial and agricultural\t768\t768\t0\nAuto and light truck\t20094\t20094\t0\nMedium and heavy duty truck\t830\t830\t0\nAircraft\t1953\t1953\t0\nConstruction equipment\t5312\t5312\t0\nCommercial real estate\t1354\t1354\t0\nResidential real estate and home equity\t0\t0\t0\nConsumer\t0\t0\t0\nTotal with no related reserve recorded\t30311\t30311\t0\nWith a reserve recorded:\t\t\t\nCommercial and agricultural\t6647\t6647\t1554\nAuto and light truck\t16980\t16980\t7517\nMedium and heavy duty truck\t114\t114\t34\nAircraft\t0\t0\t0\nConstruction equipment\t12910\t12910\t7966\nCommercial real estate\t0\t0\t0\nResidential real estate and home equity\t331\t333\t111\nConsumer\t0\t0\t0\nTotal with a reserve recorded\t36982\t36984\t17182\nTotal impaired loans\t67293\t67295\t17182\nDecember 31 2019\t\t\t\nWith no related reserve recorded:\t\t\t\nCommercial and agricultural\t218\t218\t0\nAuto and light truck\t853\t853\t0\nMedium and heavy duty truck\t1074\t1074\t0\nAircraft\t875\t875\t0\nConstruction equipment\t615\t615\t0\nCommercial real estate\t1487\t1487\t0\nResidential real estate and home equity\t0\t0\t0\nConsumer\t0\t0\t0\nTotal with no related reserve recorded\t5122\t5122\t0\nWith a reserve recorded:\t\t\t\nCommercial and agricultural\t10366\t10366\t3003\nAuto and light truck\t278\t278\t30\nMedium and heavy duty truck\t0\t0\t0\nAircraft\t0\t0\t0\nConstruction equipment\t736\t736\t75\nCommercial real estate\t0\t0\t0\nResidential real estate and home equity\t337\t339\t117\nConsumer\t0\t0\t0\nTotal with a reserve recorded\t11717\t11719\t3225\nTotal impaired loans\t16839\t16841\t3225\n", "q10k_tbl_15": "\tThree Months Ended September 30\t\t\t\t\t\t\tNine Months Ended September 30\t\n\t2020\t\t\t2019\t\t\t2020\t\t2019\n(Dollars in thousands)\tAverage Recorded Investment\tInterest Income\tAverage Recorded Investment\tInterest Income\tAverage Recorded Investment\tInterest Income\tAverage Recorded Investment\tInterest Income\nCommercial and agricultural\t8989\t1\t5177\t68\t7393\t139\t4026\t81\nAuto and light truck\t32369\t0\t1793\t0\t14632\t0\t3196\t0\nMedium and heavy duty truck\t985\t0\t0\t0\t1011\t0\t205\t0\nAircraft\t1957\t0\t593\t0\t2015\t0\t2542\t0\nConstruction equipment\t15543\t0\t1838\t0\t12541\t4\t1728\t0\nCommercial real estate\t1306\t0\t1595\t0\t1235\t0\t1763\t0\nResidential real estate and home equity\t332\t4\t340\t4\t334\t11\t341\t14\nConsumer\t0\t0\t0\t0\t0\t0\t0\t0\nTotal\t61481\t5\t11336\t72\t39161\t154\t13801\t95\n", "q10k_tbl_16": "(Dollars in thousands)\tSeptember 30 2020\tDecember 31 2019\nPerforming TDRs\t331\t10238\nNonperforming TDRs\t14503\t486\nTotal TDRs\t14834\t10724\n", "q10k_tbl_17": "(Dollars in thousands)\tCommercial and agricultural\tAuto and light truck\tMedium and heavy duty truck\tAircraft\tConstruction equipment\tCommercial real estate\tResidential real estate and home equity\tConsumer\tTotal\nSeptember 30 2020\t\t\t\t\t\t\t\t\t\nBalance beginning of period\t29007\t17371\t4649\t31101\t23872\t19936\t3821\t1526\t131283\nCharge-offs\t182\t4382\t0\t0\t21\t36\t61\t210\t4892\nRecoveries\t231\t263\t0\t191\t347\t15\t1\t75\t1123\nNet charge-offs (recoveries)\t(49)\t4119\t0\t(191)\t(326)\t21\t60\t135\t3769\nProvision (recovery of provision)\t(3986)\t11997\t(192)\t953\t(1395)\t1834\t(29)\t121\t9303\nBalance end of period\t25070\t25249\t4457\t32245\t22803\t21749\t3732\t1512\t136817\nSeptember 30 2019\t\t\t\t\t\t\t\t\t\nBalance beginning of period\t19052\t16341\t4671\t31918\t12284\t15757\t3518\t1370\t104911\nCharge-offs\t83\t61\t0\t65\t19\t0\t4\t705\t937\nRecoveries\t438\t57\t0\t614\t17\t6\t40\t78\t1250\nNet charge-offs (recoveries)\t(355)\t4\t0\t(549)\t2\t(6)\t(36)\t627\t(313)\nProvision (recovery of provision)\t2823\t(610)\t(87)\t(429)\t370\t970\t12\t668\t3717\nBalance end of period\t22230\t15727\t4584\t32038\t12652\t16733\t3566\t1411\t108941\n", "q10k_tbl_18": "(Dollars in thousands)\tCommercial and agricultural loans\tAuto and light truck\tMedium and heavy duty truck\tAircraft\tConstruction equipment\tCommercial real estate\tResidential real estate and home equity\tConsumer loans\tTotal\nSeptember 30 2020\t\t\t\t\t\t\t\t\t\nBalance beginning of period\t23671\t14400\t4612\t31058\t14120\t18350\t3609\t1434\t111254\nCharge-offs\t753\t4416\t0\t840\t1582\t37\t74\t640\t8342\nRecoveries\t533\t403\t0\t694\t937\t43\t31\t233\t2874\nNet charge-offs (recoveries)\t220\t4013\t0\t146\t645\t(6)\t43\t407\t5468\nProvision (recovery of provision)\t1619\t14862\t(155)\t1333\t9328\t3393\t166\t485\t31031\nBalance end of period\t25070\t25249\t4457\t32245\t22803\t21749\t3732\t1512\t136817\nSeptember 30 2019\t\t\t\t\t\t\t\t\t\nBalance beginning of period\t17063\t14689\t4303\t33047\t10922\t15705\t3425\t1315\t100469\nCharge-offs\t171\t527\t1132\t3066\t215\t0\t25\t1268\t6404\nRecoveries\t500\t86\t0\t916\t136\t66\t46\t244\t1994\nNet charge-offs (recoveries)\t(329)\t441\t1132\t2150\t79\t(66)\t(21)\t1024\t4410\nProvision (recovery of provision)\t4838\t1479\t1413\t1141\t1809\t962\t120\t1120\t12882\nBalance end of period\t22230\t15727\t4584\t32038\t12652\t16733\t3566\t1411\t108941\n", "q10k_tbl_19": "(Dollars in thousands)\tCommercial and agricultural loans\tAuto and light truck\tMedium and heavy duty truck\tAircraft\tConstruction equipment\tCommercial real estate\tResidential real estate and home equity\tConsumer loans\tTotal\nSeptember 30 2020\t\t\t\t\t\t\t\t\t\nReserve for loan and lease losses\t\t\t\t\t\t\t\t\t\nEnding balance individually evaluated for impairment\t1554\t7517\t34\t0\t7966\t0\t111\t0\t17182\nEnding balance collectively evaluated for impairment\t23516\t17732\t4423\t32245\t14837\t21749\t3621\t1512\t119635\nTotal reserve for loan and lease losses\t25070\t25249\t4457\t32245\t22803\t21749\t3732\t1512\t136817\nRecorded investment in loans\t\t\t\t\t\t\t\t\t\nEnding balance individually evaluated for impairment\t7415\t37074\t944\t1953\t18222\t1354\t331\t0\t67293\nEnding balance collectively evaluated for impairment\t1674104\t490508\t270304\t804209\t705374\t960196\t519550\t135498\t5559743\nTotal recorded investment in loans\t1681519\t527582\t271248\t806162\t723596\t961550\t519881\t135498\t5627036\nDecember 31 2019\t\t\t\t\t\t\t\t\t\nReserve for loan and lease losses\t\t\t\t\t\t\t\t\t\nEnding balance individually evaluated for impairment\t3003\t30\t0\t0\t75\t0\t117\t0\t3225\nEnding balance collectively evaluated for impairment\t20668\t14370\t4612\t31058\t14045\t18350\t3492\t1434\t108029\nTotal reserve for loan and lease losses\t23671\t14400\t4612\t31058\t14120\t18350\t3609\t1434\t111254\nRecorded investment in loans\t\t\t\t\t\t\t\t\t\nEnding balance individually evaluated for impairment\t10584\t1131\t1074\t875\t1351\t1487\t337\t0\t16839\nEnding balance collectively evaluated for impairment\t1122207\t587676\t293750\t783165\t704100\t906690\t531666\t139434\t5068688\nTotal recorded investment in loans\t1132791\t588807\t294824\t784040\t705451\t908177\t532003\t139434\t5085527\n", "q10k_tbl_20": "\tThree Months Ended September 30\t\t\tNine Months Ended September 30\n(Dollars in thousands)\t2020\t2019\t2020\t2019\nDirect finance leases:\t\t\t\t\nInterest income on lease receivable\t1880\t2280\t6310\t8699\nOperating leases:\t\t\t\t\nIncome related to lease payments\t5593\t7578\t18213\t23369\nDepreciation expense\t4694\t6198\t15263\t19122\n", "q10k_tbl_21": "\tThree Months Ended September 30\t\t\tNine Months Ended September 30\n(Dollars in thousands)\t2020\t2019\t2020\t2019\nMortgage servicing rights:\t\t\t\t\nBalance at beginning of period\t4294\t4141\t4200\t4283\nAdditions\t897\t318\t2094\t703\nAmortization\t(654)\t(352)\t(1757)\t(879)\nSales\t0\t0\t0\t0\nCarrying value before valuation allowance at end of period\t4537\t4107\t4537\t4107\nValuation allowance:\t\t\t\t\nBalance at beginning of period\t(546)\t0\t0\t0\nImpairment charges\t(262)\t0\t(808)\t0\nBalance at end of period\t(808)\t0\t(808)\t0\nNet carrying value of mortgage servicing rights at end of period\t3729\t4107\t3729\t4107\nFair value of mortgage servicing rights at end of period\t4000\t5722\t4000\t5722\n", "q10k_tbl_22": "(Dollars in thousands)\tSeptember 30 2020\tDecember 31 2019\nAmounts of commitments:\t\t\nLoan commitments to extend credit\t1121554\t1095054\nStandby letters of credit\t25231\t27549\nCommercial and similar letters of credit\t3526\t2332\n", "q10k_tbl_23": "\t\tAsset derivatives\t\t\tLiability derivatives\n(Dollars in thousands)\tNotional or contractual amount\tStatement of Financial Condition classification\tFair value\tStatement of Financial Condition classification\tFair value\nSeptember 30 2020\t\t\t\t\t\nInterest rate swap contracts\t1139493\tOther assets\t53027\tOther liabilities\t53988\nLoan commitments\t51834\tMortgages held for sale\t2477\tN/A\t0\nForward contracts - mortgage loan\t57187\tN/A\t0\tMortgages held for sale\t75\nTotal\t1248514\t\t55504\t\t54063\nDecember 31 2019\t\t\t\t\t\nInterest rate swap contracts\t1074809\tOther assets\t21975\tOther liabilities\t22352\nLoan commitments\t9950\tMortgages held for sale\t185\tN/A\t0\nForward contracts - mortgage loan\t23632\tN/A\t0\tMortgages held for sale\t38\nTotal\t1108391\t\t22160\t\t22390\n", "q10k_tbl_24": "\t\tGain (loss)\t\t\t\n\t\tThree Months Ended September 30\t\t\tNine Months Ended September 30\n(Dollars in thousands)\tStatement of Income classification\t2020\t2019\t2020\t2019\nInterest rate swap contracts\tOther expense\t50\t(129)\t(583)\t(378)\nInterest rate swap contracts\tOther income\t23\t272\t560\t1056\nLoan commitments\tMortgage banking\t1406\t(6)\t2292\t86\nForward contracts - mortgage loan\tMortgage banking\t26\t157\t(37)\t118\nTotal\t\t1505\t294\t2232\t882\n", "q10k_tbl_25": "\t\t\t\tGross Amounts Not Offset in the Statement of Financial Condition\t\t\n(Dollars in thousands)\tGross Amounts of Recognized Assets\tGross Amounts Offset in the Statement of Financial Condition\tNet Amounts of Assets Presented in the Statement of Financial Condition\tFinancial Instruments\tCash Collateral Received\tNet Amount\nSeptember 30 2020\t\t\t\t\t\t\nInterest rate swaps\t57457\t4430\t53027\t0\t0\t53027\nDecember 31 2019\t\t\t\t\t\t\nInterest rate swaps\t22279\t304\t21975\t0\t0\t21975\n", "q10k_tbl_26": "\t\t\t\tGross Amounts Not Offset in the Statement of Financial Condition\t\t\n(Dollars in thousands)\tGross Amounts of Recognized Liabilities\tGross Amounts Offset in the Statement of Financial Condition\tNet Amounts of Liabilities Presented in the Statement of Financial Condition\tFinancial Instruments\tCash Collateral Pledged\tNet Amount\nSeptember 30 2020\t\t\t\t\t\t\nInterest rate swaps\t58418\t4430\t53988\t53891\t0\t97\nRepurchase agreements\t158834\t0\t158834\t158834\t0\t0\nTotal\t217252\t4430\t212822\t212725\t0\t97\nDecember 31 2019\t\t\t\t\t\t\nInterest rate swaps\t22656\t304\t22352\t23482\t0\t(1130)\nRepurchase agreements\t120459\t0\t120459\t120459\t0\t0\nTotal\t143115\t304\t142811\t143941\t0\t(1130)\n", "q10k_tbl_27": "(Dollars in thousands)\tSeptember 30 2020\tDecember 31 2019\nInvestment carrying amount\t47719\t19843\nUnfunded capital and other commitments\t41409\t17420\nMaximum exposure to loss\t43329\t37904\n", "q10k_tbl_28": "(Dollars in thousands)\tAmount of Subordinated Notes\tInterest Rate\tMaturity Date\nJune 2007 issuance (1)\t41238\t7.22%\t6/15/2037\nAugust 2007 issuance (2)\t17526\t1.73%\t9/15/2037\nTotal\t58764\t\t\n", "q10k_tbl_29": "\tThree Months Ended September 30\t\t\tNine Months Ended September 30\n(Dollars in thousands - except per share amounts)\t2020\t2019\t2020\t2019\nDistributed earnings allocated to common stock\t7166\t6895\t21714\t20791\nUndistributed earnings allocated to common stock\t12755\t17402\t32941\t48827\nNet earnings allocated to common stock\t19921\t24297\t54655\t69618\nNet earnings allocated to participating securities\t137\t141\t318\t401\nNet income allocated to common stock and participating securities\t20058\t24438\t54973\t70019\nWeighted average shares outstanding for basic earnings per common share\t25552374\t25520035\t25538910\t25630771\nDilutive effect of stock compensation\t0\t0\t0\t0\nWeighted average shares outstanding for diluted earnings per common share\t25552374\t25520035\t25538910\t25630771\nBasic earnings per common share\t0.78\t0.95\t2.14\t2.72\nDiluted earnings per common share\t0.78\t0.95\t2.14\t2.72\n", "q10k_tbl_30": "\tThree Months Ended September 30\t\t\tNine Months Ended September 30\t\tAffected Line Item in the Statements of Income\n(Dollars in thousands)\t2020\t2019\t2020\t2019\t\nRealized gains included in net income\t0\t0\t279\t0\tGains on investment securities available-for-sale\n\t0\t0\t279\t0\tIncome before income taxes\nTax effect\t0\t0\t(65)\t0\tIncome tax expense\nNet of tax\t0\t0\t214\t0\tNet income\n", "q10k_tbl_31": "(Dollars in thousands)\tFair value carrying amount\tAggregate unpaid principal\tExcess of fair value carrying amount over (under) unpaid principal\t\nSeptember 30 2020\t\t\t\t\nMortgages held for sale reported at fair value\t20990\t17618\t3372\t(1)\nDecember 31 2019\t\t\t\t\nMortgages held for sale reported at fair value\t20277\t19890\t387\t(1)\n", "q10k_tbl_32": "(Dollars in thousands)\tLevel 1\tLevel 2\tLevel 3\tTotal\nSeptember 30 2020\t\t\t\t\nAssets:\t\t\t\t\nInvestment securities available-for-sale:\t\t\t\t\nU.S. Treasury and Federal agencies securities\t76298\t491710\t0\t568008\nU.S. States and political subdivisions securities\t0\t65468\t3265\t68733\nMortgage-backed securities - Federal agencies\t0\t403490\t0\t403490\nCorporate debt securities\t0\t42496\t0\t42496\nForeign government and other securities\t0\t700\t0\t700\nTotal debt securities available-for-sale\t76298\t1003864\t3265\t1083427\nMortgages held for sale\t0\t20990\t0\t20990\nAccrued income and other assets (interest rate swap agreements)\t0\t53027\t0\t53027\nTotal\t76298\t1077881\t3265\t1157444\nLiabilities:\t\t\t\t\nAccrued expenses and other liabilities (interest rate swap agreements)\t0\t53988\t0\t53988\nTotal\t0\t53988\t0\t53988\nDecember 31 2019\t\t\t\t\nAssets:\t\t\t\t\nInvestment securities available-for-sale:\t\t\t\t\nU.S. Treasury and Federal agencies securities\t80393\t446571\t0\t526964\nU.S. States and political subdivisions securities\t0\t82213\t2292\t84505\nMortgage-backed securities - Federal agencies\t0\t375389\t0\t375389\nCorporate debt securities\t0\t53025\t0\t53025\nForeign government and other securities\t0\t700\t0\t700\nTotal debt securities available-for-sale\t80393\t957898\t2292\t1040583\nMortgages held for sale\t0\t20277\t0\t20277\nAccrued income and other assets (interest rate swap agreements)\t0\t21975\t0\t21975\nTotal\t80393\t1000150\t2292\t1082835\nLiabilities:\t\t\t\t\nAccrued expenses and other liabilities (interest rate swap agreements)\t0\t22352\t0\t22352\nTotal\t0\t22352\t0\t22352\n", "q10k_tbl_33": "(Dollars in thousands)\tU.S. States and political subdivisions securities\nBeginning balance July 1 2020\t3179\nTotal gains or losses (realized/unrealized):\t\nIncluded in earnings\t0\nIncluded in other comprehensive income\t166\nPurchases\t0\nIssuances\t0\nSales\t0\nSettlements\t0\nMaturities\t(80)\nTransfers into Level 3\t0\nTransfers out of Level 3\t0\nEnding balance September 30 2020\t3265\nBeginning balance July 1 2019\t5061\nTotal gains or losses (realized/unrealized):\t\nIncluded in earnings\t0\nIncluded in other comprehensive income\t(12)\nPurchases\t0\nIssuances\t0\nSales\t0\nSettlements\t0\nMaturities\t(80)\nTransfers into Level 3\t0\nTransfers out of Level 3\t0\nEnding balance September 30 2019\t4969\n", "q10k_tbl_34": "(Dollars in thousands)\tFair Value\tValuation Methodology\tUnobservable Inputs\tRange of Inputs\tWeighted Average\nSeptember 30 2020\t\t\t\t\t\nDebt securities available-for sale\t\t\t\t\t\nDirect placement municipal securities\t3265\tDiscounted cash flows\tCredit spread assumption\t1.12% - 2.52%\t1.47%\nDecember 31 2019\t\t\t\t\t\nDebt securities available-for sale\t\t\t\t\t\nDirect placement municipal securities\t2292\tDiscounted cash flows\tCredit spread assumption\t0.12% - 2.85%\t\n", "q10k_tbl_35": "(Dollars in thousands)\tLevel 1\tLevel 2\tLevel 3\tTotal\nSeptember 30 2020\t\t\t\t\nImpaired loans - collateral based\t0\t0\t19802\t19802\nAccrued income and other assets (mortgage servicing rights)\t0\t0\t3729\t3729\nAccrued income and other assets (repossessions)\t0\t0\t4639\t4639\nAccrued income and other assets (other real estate)\t0\t0\t303\t303\nTotal\t0\t0\t28473\t28473\nDecember 31 2019\t\t\t\t\nImpaired loans - collateral based\t0\t0\t8492\t8492\nAccrued income and other assets (mortgage servicing rights)\t0\t0\t4200\t4200\nAccrued income and other assets (repossessions)\t0\t0\t8623\t8623\nAccrued income and other assets (other real estate)\t0\t0\t522\t522\nTotal\t0\t0\t21837\t21837\n", "q10k_tbl_36": "(Dollars in thousands)\tCarrying Value\tFair Value\tValuation Methodology\tUnobservable Inputs\tRange of Inputs\tWeighted Average\nSeptember 30 2020\t\t\t\t\t\t\nImpaired loans\t19802\t19802\tCollateral based measurements including appraisals trade publications and auction values\tDiscount for lack of marketability and current conditions\t0% - 90%\t28%\nMortgage servicing rights\t3729\t4000\tDiscounted cash flows\tConstant prepayment rate (CPR)\t15.3% - 24.7%\t21.7%\n\t\t\t\tDiscount rate\t8.4% - 11.2%\t8.6%\nRepossessions\t4639\t4898\tAppraisals trade publications and auction values\tDiscount for lack of marketability\t3% - 16%\t5%\nOther real estate\t303\t324\tAppraisals\tDiscount for lack of marketability\t0% - 6%\t6%\nDecember 31 2019\t\t\t\t\t\t\nImpaired loans\t8492\t8492\tCollateral based measurements including appraisals trade publications and auction values\tDiscount for lack of marketability and current conditions\t0% - 90%\t\nMortgage servicing rights\t4200\t5986\tDiscounted cash flows\tConstant prepayment rate (CPR)\t10.2% - 28.1%\t\n\t\t\t\tDiscount rate\t9.3% - 12.1%\t\nRepossessions\t8623\t9211\tAppraisals trade publications and auction values\tDiscount for lack of marketability\t3% - 25%\t\nOther real estate\t522\t564\tAppraisals\tDiscount for lack of marketability\t0% - 11%\t\n", "q10k_tbl_37": "(Dollars in thousands)\tCarrying or Contract Value\tFair Value\tLevel 1\tLevel 2\tLevel 3\nSeptember 30 2020\t\t\t\t\t\nAssets:\t\t\t\t\t\nCash and due from banks\t62575\t62575\t62575\t0\t0\nFederal funds sold and interest bearing deposits with other banks\t91641\t91641\t91641\t0\t0\nInvestment securities available-for-sale\t1083427\t1083427\t76298\t1003864\t3265\nOther investments\t27674\t27674\t27674\t0\t0\nMortgages held for sale\t20990\t20990\t0\t20990\t0\nLoans and leases net of reserve for loan and lease losses\t5490219\t5568395\t0\t0\t5568395\nMortgage servicing rights\t3729\t4000\t0\t0\t4000\nAccrued interest receivable\t21565\t21565\t0\t21565\t0\nInterest rate swaps\t53027\t53027\t0\t53027\t0\nLiabilities:\t\t\t\t\t\nDeposits\t5896855\t5909192\t4598859\t1310333\t0\nShort-term borrowings\t165574\t165574\t159822\t5752\t0\nLong-term debt and mandatorily redeemable securities\t81659\t82894\t0\t82894\t0\nSubordinated notes\t58764\t57617\t0\t57617\t0\nAccrued interest payable\t7647\t7647\t0\t7647\t0\nInterest rate swaps\t53988\t53988\t0\t53988\t0\nOff-balance-sheet instruments *\t0\t289\t0\t289\t0\nDecember 31 2019\t\t\t\t\t\nAssets:\t\t\t\t\t\nCash and due from banks\t67215\t67215\t67215\t0\t0\nFederal funds sold and interest bearing deposits with other banks\t16150\t16150\t16150\t0\t0\nInvestment securities available-for-sale\t1040583\t1040583\t80393\t957898\t2292\nOther investments\t28414\t28414\t28414\t0\t0\nMortgages held for sale\t20277\t20277\t0\t20277\t0\nLoans and leases net of reserve for loan and lease losses\t4974273\t4992684\t0\t0\t4992684\nMortgage servicing rights\t4200\t5986\t0\t0\t5986\nAccrued interest receivable\t19125\t19125\t0\t19125\t0\nInterest rate swaps\t21975\t21975\t0\t21975\t0\nLiabilities:\t\t\t\t\t\nDeposits\t5357326\t5362633\t3708828\t1653805\t0\nShort-term borrowings\t145893\t145893\t120891\t25002\t0\nLong-term debt and mandatorily redeemable securities\t71639\t71084\t0\t71084\t0\nSubordinated notes\t58764\t61469\t0\t61469\t0\nAccrued interest payable\t13918\t13918\t0\t13918\t0\nInterest rate swaps\t22352\t22352\t0\t22352\t0\nOff-balance-sheet instruments *\t0\t281\t0\t281\t0\n", "q10k_tbl_38": "(Dollars in thousands)\tSeptember 30 2020\tDecember 31 2019\nAccrued income and other assets:\t\t\nBank owned life insurance cash surrender value\t69938\t68774\nOperating lease right of use assets\t22261\t24147\nAccrued interest receivable\t21565\t19125\nMortgage servicing rights\t3729\t4200\nOther real estate\t303\t522\nRepossessions\t4639\t8623\nPartnership investments carrying amount\t100265\t61083\nAll other assets\t78134\t41516\nTotal accrued income and other assets\t300834\t227990\n", "q10k_tbl_39": "\tCOVID-19 Related Loan and Lease Modifications\t\n(Dollars in millions)\tJune 30 2020\tSeptember 30 2020\nAuto and light truck rental\t224\t22\nSpecialty vehicle(1)\t75\t23\nMedium and heavy duty truck\t87\t5\nAircraft\t93\t13\nConstruction\t139\t0\nCommercial\t210\t63\nResidential real estate and home equity\t4\t0\nConsumer\t8\t0\nTotal loans and leases\t840\t126\n(1) Includes buses step vans and funeral cars.\t\t\t\t\t\n", "q10k_tbl_40": "(Dollars in millions)\tPrincipal Only Deferrals\tPrincipal and Interest Deferrals\tTotal Modifications in Deferment\tAdditional Modifications Expected(1)\tTotal Modifications\tRecorded Investment at September 30 2020\tTotal Modifications as a % of September 30 2020 Balance\nAuto and light truck rental\t21\t1\t22\t16\t38\t379\t10%\nSpecialty vehicle(2)\t11\t12\t23\t23\t46\t149\t31%\nMedium and heavy duty truck\t5\t0\t5\t0\t5\t271\t2%\nAircraft\t13\t0\t13\t6\t19\t806\t2%\nConstruction\t0\t0\t0\t1\t1\t724\t-%\nCommercial\t5\t58\t63\t23\t86\t2643\t3%\nResidential real estate and home equity\t0\t0\t0\t0\t0\t520\t-%\nConsumer\t0\t0\t0\t0\t0\t135\t-%\nTotal loans and leases\t55\t71\t126\t69\t195\t5627\t3%\nPPP loans net of unearned discount(3)\t0\t0\t0\t0\t0\t581\t-%\nTotal loans and leases less PPP loans\t55\t71\t126\t69\t195\t5046\t4%\n(1) Represents modifications which ended deferment during September 2020 and are in the process of receiving or expected to receive an extension.\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\n(2) Includes buses step vans and funeral cars.\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\n(3) PPP loan balances are located within the Commercial category above.\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\n", "q10k_tbl_41": "\tFirst Modification\t\t\t\t\tSecond Modification\t\t\t\tThird Modification\n(Dollars in millions)\tExpired\tIn Deferment\tTotal\tExpired\tIn Deferment(1)\tTotal\tExpired\tIn Deferment(1)\tTotal\nAuto and light truck rental\t255\t18\t273\t61\t4\t65\t0\t16\t16\nSpecialty vehicle(2)\t88\t0\t88\t55\t16\t71\t0\t30\t30\nMedium and heavy duty truck\t89\t0\t89\t0\t5\t5\t0\t0\t0\nAircraft\t97\t0\t97\t11\t19\t30\t0\t0\t0\nConstruction\t144\t0\t144\t8\t0\t8\t0\t1\t1\nCommercial\t185\t55\t240\t19\t25\t44\t0\t6\t6\nResidential real estate and home equity\t7\t0\t7\t2\t0\t2\t0\t0\t0\nConsumer\t9\t0\t9\t0\t0\t0\t0\t0\t0\nTotal loans and leases\t874\t73\t947\t156\t69\t225\t0\t53\t53\n(1) Includes modifications which ended deferment during September 2020 and are in the process of receiving or expected to receive an extension.\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\n(2) Includes buses step vans and funeral cars.\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\n", "q10k_tbl_42": "\tNumber of Loans\t of Loans (000's)\tAverage Loan Size\nPhase One\t2024\t520583\t257000\nPhase Two\t1516\t76868\t51000\nTotal\t3540\t597451\t169000\n", "q10k_tbl_43": "\tActual\t\t\tMinimum Capital Adequacy\t\t\tMinimum Capital Adequacy with Capital Buffer\t\tTo Be Well Capitalized Under Prompt Corrective Action Provisions\n(Dollars in thousands)\tAmount\tRatio\tAmount\tRatio\tAmount\tRatio\tAmount\tRatio\nTotal Capital (to Risk-Weighted Assets):\t\t\t\t\t\t\t\t\n1st Source Corporation\t948891\t15.74%\t482133\t8.00%\t632800\t10.50%\t602667\t10.00%\n1st Source Bank\t859135\t14.24\t482677\t8.00\t633514\t10.50\t603347\t10.00\nTier 1 Capital (to Risk-Weighted Assets):\t\t\t\t\t\t\t\t\n1st Source Corporation\t872755\t14.48\t361600\t6.00\t512267\t8.50\t482133\t8.00\n1st Source Bank\t782915\t12.98\t362008\t6.00\t512845\t8.50\t482677\t8.00\nCommon Equity Tier 1 Capital (to Risk-Weighted Assets):\t\t\t\t\t\t\t\t\n1st Source Corporation\t778494\t12.92\t271200\t4.50\t421867\t7.00\t391733\t6.50\n1st Source Bank\t745654\t12.36\t271506\t4.50\t422343\t7.00\t392175\t6.50\nTier 1 Capital (to Average Assets):\t\t\t\t\t\t\t\t\n1st Source Corporation\t872755\t12.14\t287593\t4.00\tN/A\tN/A\t359492\t5.00\n1st Source Bank\t782915\t10.89\t287573\t4.00\tN/A\tN/A\t359467\t5.00\n", "q10k_tbl_44": "\t\t\t\t\t\tThree Months Ended\t\t\t\t\n\tSeptember 30 2020\t\t\t\t\tJune 30 2020\t\t\t\tSeptember 30 2019\n(Dollars in thousands)\tAverage Balance\tInterest Income/Expense\tYield/ Rate\tAverage Balance\tInterest Income/Expense\tYield/ Rate\tAverage Balance\tInterest Income/Expense\tYield/ Rate\nASSETS\t\t\t\t\t\t\t\t\t\nInvestment securities available-for-sale:\t\t\t\t\t\t\t\t\t\nTaxable\t1012703\t4103\t1.61%\t995776\t4487\t1.81%\t959104\t5056\t2.09%\nTax exempt(1)\t45077\t257\t2.26%\t49534\t286\t2.32%\t65146\t388\t2.36%\nMortgages held for sale\t26327\t186\t2.81%\t27016\t198\t2.95%\t19888\t190\t3.79%\nLoans and leases net of unearned discount(1)\t5669615\t58210\t4.08%\t5565160\t58700\t4.24%\t5091358\t66712\t5.20%\nOther investments\t87998\t289\t1.31%\t89525\t316\t1.42%\t54768\t497\t3.60%\nTotal earning assets(1)\t6841720\t63045\t3.67%\t6727011\t63987\t3.83%\t6190264\t72843\t4.67%\nCash and due from banks\t72474\t\t\t73523\t\t\t66046\t\t\nReserve for loan and lease losses\t(134824)\t\t\t(124186)\t\t\t(106559)\t\t\nOther assets\t502172\t\t\t509058\t\t\t471129\t\t\nTotal assets\t7281542\t\t\t7185406\t\t\t6620880\t\t\nLIABILITIES AND SHAREHOLDERS' EQUITY\t\t\t\t\t\t\t\t\t\nInterest-bearing deposits\t4225299\t6532\t0.62%\t4248478\t8265\t0.78%\t4174746\t13524\t1.29%\nShort-term borrowings\t187912\t83\t0.18%\t191411\t90\t0.19%\t188562\t293\t0.62%\nSubordinated notes\t58764\t824\t5.58%\t58764\t835\t5.71%\t58764\t914\t6.17%\nLong-term debt and mandatorily redeemable securities\t81528\t610\t2.98%\t81766\t659\t3.24%\t71304\t750\t4.17%\nTotal interest-bearing liabilities\t4553503\t8049\t0.70%\t4580419\t9849\t0.86%\t4493376\t15481\t1.37%\nNoninterest-bearing deposits\t1664135\t\t\t1562100\t\t\t1188645\t\t\nOther liabilities\t149978\t\t\t151281\t\t\t119125\t\t\nShareholders' equity\t876992\t\t\t862209\t\t\t809279\t\t\nNoncontrolling interests\t36934\t\t\t29397\t\t\t10455\t\t\nTotal liabilities and equity\t7281542\t\t\t7185406\t\t\t6620880\t\t\nLess: Fully tax-equivalent adjustments\t\t(128)\t\t\t(137)\t\t\t(167)\t\nNet interest income/margin (GAAP-derived)(1)\t\t54868\t3.19%\t\t54001\t3.23%\t\t57195\t3.67%\nFully tax-equivalent adjustments\t\t128\t\t\t137\t\t\t167\t\nNet interest income/margin - FTE(1)\t\t54996\t3.20%\t\t54138\t3.24%\t\t57362\t3.68%\n(1) See \"Reconciliation of Non-GAAP Financial Measures\" at the end of this section for additional information on this performance measure/ratio.\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\n", "q10k_tbl_45": "\tNine Months Ended\t\t\t\t\t\n\tSeptember 30 2020\t\t\t\t\tSeptember 30 2019\n(Dollars in thousands)\tAverage Balance\tInterest Income/Expense\tYield/ Rate\tAverage Balance\tInterest Income/Expense\tYield/ Rate\nASSETS\t\t\t\t\t\t\nInvestment securities available-for-sale:\t\t\t\t\t\t\nTaxable\t994035\t14140\t1.90%\t932779\t15757\t2.26%\nTax exempt(1)\t50590\t868\t2.29%\t71684\t1297\t2.42%\nMortgages held for sale\t21563\t480\t2.97%\t13616\t418\t4.10%\nLoans and leases net of unearned discount(1)\t5445213\t178430\t4.38%\t4984498\t194954\t5.23%\nOther investments\t73050\t951\t1.74%\t50109\t1434\t3.83%\nTotal earning assets(1)\t6584451\t194869\t3.95%\t6052686\t213860\t4.72%\nCash and due from banks\t70475\t\t\t65801\t\t\nReserve for loan and lease losses\t(123790)\t\t\t(103699)\t\t\nOther assets\t495820\t\t\t452759\t\t\nTotal assets\t7026956\t\t\t6467547\t\t\nLIABILITIES AND SHAREHOLDERS' EQUITY\t\t\t\t\t\t\nInterest-bearing deposits\t4183502\t25648\t0.82%\t4083140\t37972\t1.24%\nShort-term borrowings\t193934\t427\t0.29%\t213551\t1764\t1.10%\nSubordinated notes\t58764\t2543\t5.78%\t58764\t2770\t6.30%\nLong-term debt and mandatorily redeemable securities\t80427\t2122\t3.52%\t71034\t2258\t4.25%\nTotal interest-bearing liabilities\t4516627\t30740\t0.91%\t4426489\t44764\t1.35%\nNoninterest-bearing deposits\t1474807\t\t\t1147195\t\t\nOther liabilities\t144393\t\t\t97096\t\t\nShareholders' equity\t861366\t\t\t791438\t\t\nNoncontrolling interests\t29763\t\t\t5329\t\t\nTotal liabilities and equity\t7026956\t\t\t6467547\t\t\nLess: Fully tax-equivalent adjustments\t\t(416)\t\t\t(526)\t\nNet interest income/margin (GAAP-derived)(1)\t\t163713\t3.32%\t\t168570\t3.72%\nFully tax-equivalent adjustments\t\t416\t\t\t526\t\nNet interest income/margin - FTE(1)\t\t164129\t3.33%\t\t169096\t3.74%\n(1) See \"Reconciliation of Non-GAAP Financial Measures\" at the end of this section for additional information on this performance measure/ratio.\t\t\t\t\t\t\t\t\t\n", "q10k_tbl_46": "\t\tThree Months Ended\t\t\t\t\t\tNine Months Ended\n(Dollars in thousands)\t\t\tSeptember 30 2020\tJune 30 2020\tSeptember 30 2019\t\tSeptember 30 2020\tSeptember 30 2019\nCalculation of Net Interest Margin\t\t\t\t\t\t\t\t\n(A)\tInterest income (GAAP)\t62917\t63850\t72676\t\t194453\t213334\n\tFully tax-equivalent adjustments:\t\t\t\t\t\t\n(B)\t- Loans and leases\t78\t83\t95\t\t251\t283\n(C)\t- Tax-exempt investment securities\t50\t54\t72\t\t165\t243\n(D)\tInterest income - FTE (A+B+C)\t63045\t63987\t72843\t\t194869\t213860\n(E)\tInterest expense (GAAP)\t8049\t9849\t15481\t\t30740\t44764\n(F)\tNet interest income (GAAP) (A-E)\t54868\t54001\t57195\t\t163713\t168570\n(G)\tNet interest income - FTE (D-E)\t54996\t54138\t57362\t\t164129\t169096\n(H)\tAnnualization factor\t3.978\t4.022\t3.967\t\t1.336\t1.337\n(I)\tTotal earning assets\t6841720\t6727011\t6190264\t\t6584451\t6052686\n\tNet interest margin (GAAP-derived) (F*H)/I\t3.19%\t3.23%\t3.67%\t\t3.32%\t3.72%\n\tNet interest margin - FTE (G*H)/I\t3.20%\t3.24%\t3.68%\t\t3.33%\t3.74%\n", "q10k_tbl_47": "(Dollars in thousands)\tSeptember 30 2020\tDecember 31 2019\tSeptember 30 2019\nLoans and leases past due 90 days or more\t81\t309\t311\nNonaccrual loans and leases\t70595\t9789\t10188\nOther real estate\t303\t522\t629\nRepossessions\t4639\t8623\t6610\nEquipment owned under operating leases\t136\t0\t0\nTotal nonperforming assets\t75754\t19243\t17738\n", "q10k_tbl_48": "(Dollars in thousands)\tSeptember 30 2020\tDecember 31 2019\tSeptember 30 2019\nCommercial and agricultural\t0\t0\t0\nAuto and light truck\t714\t1865\t2153\nMedium and heavy duty truck\t0\t0\t0\nAircraft\t3750\t6707\t4400\nConstruction equipment\t152\t35\t0\nCommercial real estate\t303\t303\t303\nResidential real estate and home equity\t0\t219\t326\nConsumer\t23\t16\t57\nTotal\t4942\t9145\t7239\n", "q10k_tbl_49": "\tThree Months Ended September 30\t\t\t\t\t\t\tNine Months Ended September 30\n(Dollars in thousands)\t2020\t2019\t Change\t% Change\t2020\t2019\t Change\t% Change\nNoninterest income:\t\t\t\t\t\t\t\t\nTrust and wealth advisory\t5153\t4982\t171\t3.43%\t15590\t15423\t167\t1.08%\nService charges on deposit accounts\t2336\t2892\t(556)\t(19.23)%\t6851\t8175\t(1324)\t(16.20)%\nDebit card\t4019\t3727\t292\t7.83%\t10993\t10616\t377\t3.55%\nMortgage banking\t6474\t1362\t5112\tNM\t12125\t3297\t8828\tNM\nInsurance commissions\t1825\t1603\t222\t13.85%\t5401\t5295\t106\t2.00%\nEquipment rental\t5593\t7578\t(1985)\t(26.19)%\t18213\t23369\t(5156)\t(22.06)%\nGains on investment securities available-for-sale\t0\t0\t0\tNM\t279\t0\t279\tNM\nOther\t2641\t3621\t(980)\t(27.06)%\t8452\t9378\t(926)\t(9.87)%\nTotal noninterest income\t28041\t25765\t2276\t8.83%\t77904\t75553\t2351\t3.11%\n", "q10k_tbl_50": "\tThree Months Ended September 30\t\t\t\t\t\t\tNine Months Ended September 30\n(Dollars in thousands)\t2020\t2019\t Change\t% Change\t2020\t2019\t Change\t% Change\nNoninterest expense:\t\t\t\t\t\t\t\t\nSalaries and employee benefits\t25609\t24434\t1175\t4.81%\t74009\t71716\t2293\t3.20%\nNet occupancy\t2512\t2635\t(123)\t(4.67)%\t7737\t7888\t(151)\t(1.91)%\nFurniture and equipment\t6247\t6027\t220\t3.65%\t18912\t18340\t572\t3.12%\nDepreciation - leased equipment\t4694\t6198\t(1504)\t(24.27)%\t15263\t19122\t(3859)\t(20.18)%\nProfessional fees\t2041\t1603\t438\t27.32%\t4741\t4907\t(166)\t(3.38)%\nSupplies and communication\t1305\t1643\t(338)\t(20.57)%\t4329\t4744\t(415)\t(8.75)%\nFDIC and other insurance\t868\t260\t608\tNM\t1755\t1513\t242\t15.99%\nBusiness development and marketing\t923\t1844\t(921)\t(49.95)%\t3403\t4471\t(1068)\t(23.89)%\nLoan and lease collection and repossession\t1054\t697\t357\t51.22%\t2655\t2288\t367\t16.04%\nOther\t1790\t1765\t25\t1.42%\t5599\t4674\t925\t19.79%\nTotal noninterest expense\t47043\t47106\t(63)\t(0.13)%\t138403\t139663\t(1260)\t(0.90)%\n", "q10k_tbl_51": "Period\tTotal Number of Shares Purchased\tAverage Price Paid Per Share\tTotal Number of Shares Purchased as Part of Publicly Announced Plans or Programs*\tMaximum Number (or Approximate Dollar Value) of Shares that may yet be Purchased Under the Plans or Programs\nJuly 01 - 31 2020\t0\t0\t0\t859374\nAugust 01 - 31 2020\t0\t0\t0\t859374\nSeptember 01 - 30 2020\t0\t0\t0\t859374\n", "q10k_tbl_52": "31.1\tCertification of Chief Executive Officer required by Rule 13a-14(a).\n31.2\tCertification of Chief Financial Officer required by Rule 13a-14(a).\n32.1\tCertification pursuant to 18 U.S.C. Section 1350 of Chief Executive Officer.\n32.2\tCertification pursuant to 18 U.S.C. Section 1350 of Chief Financial Officer.\n101.INS\tXBRL Instance Document - The instance document does not appear in the interactive data file because its XBRL tags are embedded within the Inline XBRL document.\n101.SCH\tXBRL Taxonomy Extension Schema Document\n101.CAL\tXBRL Taxonomy Extension Calculation Linkbase Document\n101.LAB\tXBRL Taxonomy Extension Labels Linkbase Document\n101.PRE\tXBRL Taxonomy Extension Presentation Linkbase Document\n101.DEF\tXBRL Taxonomy Extension Definition Linkbase Document\n104\tCover Page Interactive Data File (embedded within the Inline XBRL document and included in Exhibit 101)\n"}{"bs": "q10k_tbl_1", "is": "q10k_tbl_2", "cf": "q10k_tbl_6"}None
☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended September 30, 2020
OR
☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from to
Commission file number 0-6233
1st Source Corporation
(Exact name of registrant as specified in its charter)
Indiana
35-1068133
(State or other jurisdiction of incorporation or organization)
(I.R.S. Employer Identification No.)
100 North Michigan Street
South Bend,
IN
46601
(Address of principal executive offices)
(Zip Code)
(574) 235-2000
(Registrant’s telephone number, including area code)
Not Applicable
(Former name, former address and former fiscal year, if changed since last report)
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
Common Stock - without par value
SRCE
The NASDAQ Stock Market LLC
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. xYeso No
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). xYeso No
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated filer
x
Accelerated filer
☐
Non-accelerated filer
☐
Smaller reporting company
☐
Emerging growth company
☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section13(a) of the Exchange Act. ☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). ☐ Yes x No
Number of shares of common stock outstanding as of October 16, 2020 — 25,553,644 shares