STOCK YARDS BANCORP, INC., 10-K filed on 2/26/2026
Annual Report
v3.25.4
Document And Entity Information - USD ($)
 12 Months Ended
Dec. 31, 2025
Jan. 30, 2026
Jun. 30, 2025
Document Information [Line Items]      
Document Type 10-K    
Document Annual Report true    
Document Period End Date Dec. 31, 2025    
Document Transition Report false    
Entity File Number 1-13661    
Entity Registrant Name STOCK YARDS BANCORP, INC.    
Entity Incorporation, State or Country Code KY    
Entity Tax Identification Number 61-1137529    
Entity Address, Address Line One 1040 East Main Street    
Entity Address, City or Town Louisville    
Entity Address, State or Province KY    
Entity Address, Postal Zip Code 40206    
City Area Code 502    
Local Phone Number 582-2571    
Title of 12(b) Security Common stock, no par value    
Trading Symbol SYBT    
Security Exchange Name NASDAQ    
Entity Well-known Seasoned Issuer Yes    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Filer Category Large Accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
ICFR Auditor Attestation Flag true    
Document Financial Statement Error Correction [Flag] false    
Entity Shell Company false    
Entity Public Float     $ 2,232,422,008
Entity Common Stock, Shares Outstanding (in shares)   29,478,930  
Auditor Firm ID 243    
Auditor Name BDO USA, P.C.    
Auditor Location Grand Rapids, Michigan    
Entity Central Index Key 0000835324    
Current Fiscal Year End Date --12-31    
Document Fiscal Year Focus 2025    
Document Fiscal Period Focus FY    
Amendment Flag false    
v3.25.4
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Assets    
Cash and due from banks $ 70,061 $ 78,925
Federal funds sold and interest bearing due from banks 816,315 212,095
Total cash and cash equivalents 886,376 291,020
Mortgage loans held for sale, at fair value 6,247 6,286
Available for sale debt securities (amortized cost of $801,371 in 2025 and $1,114,961 in 2024, respectively) 722,111 990,114
Held to maturity debt securities (fair value of $181,203 in 2025 and $341,357 in 2024, respectively) 198,946 370,171
Federal Home Loan Bank stock, at cost 20,717 21,603
Loans [1] 7,041,310 6,520,402
Allowance for credit losses on loans (91,867) (86,943)
Net loans 6,949,443 6,433,459
Premises and equipment, net 118,698 112,736
Premises held for sale 1,678 2,321
Bank owned life insurance 91,885 89,370
Accrued interest receivable 28,783 27,697
Goodwill 194,074 194,074
Other assets 305,006 308,750
Total assets 9,536,124 8,863,419
Liabilities    
Non-interest bearing 1,435,846 1,456,138
Interest bearing 6,355,291 5,710,263
Total deposits 7,791,137 7,166,401
Securities sold under agreements to repurchase 112,476 162,967
Federal funds purchased 7,289 6,525
Subordinated debentures 26,806 26,806
Federal Home Loan Bank advances 300,000 300,000
Accrued interest payable 1,740 1,912
Other liabilities 220,979 258,332
Total liabilities 8,460,427 7,922,943
Stockholders’ equity    
Preferred stock, no par value. Authorized 1,000,000 shares; no shares issued or outstanding 0 0
Common stock, no par value. Authorized 40,000,000 shares; issued and outstanding 29,476,000 and 29,431,000 shares in 2025 and 2024, respectively 59,090 58,939
Additional paid-in capital 402,820 395,081
Retained earnings 675,062 577,607
Accumulated other comprehensive loss (61,275) (91,151)
Total stockholders’ equity 1,075,697 940,476
Total liabilities and equity 9,536,124 8,863,419
Core Deposits [Member]    
Assets    
Intangible 6,688 8,978
Customer Lists [Member]    
Assets    
Intangible $ 5,472 $ 6,840
[1] (1) Total loans are presented inclusive of premiums, discounts and net loan origination fees and costs. 
v3.25.4
Consolidated Balance Sheets (Parentheticals) - USD ($)
$ / shares in Thousands, $ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Debt Securities, Available-for-Sale, Amortized Cost, Excluding Accrued Interest, before Allowance for Credit Loss $ 801,371 $ 1,114,961
Debt Securities, Held-to-Maturity, Fair Value $ 181,203 $ 341,357
Preferred Stock, No Par Value (in dollars per share) $ 0 $ 0
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, No Par Value (in dollars per share) $ 0 $ 0
Common Stock, Shares Authorized (in shares) 40,000,000 40,000,000
Common Stock, Shares, Issued (in shares) 29,476,000 29,431,000
Common Stock, Shares, Outstanding (in shares) 29,476,000 29,431,000
v3.25.4
Consolidated Statements of Income - USD ($)
shares in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Interest income:      
Loans, including fees $ 416,943,000 $ 369,362,000 $ 302,044,000
Federal funds sold and interest bearing due from banks 17,238,000 9,256,000 8,411,000
Mortgage loans held for sale 348,000 232,000 211,000
Federal Home Loan Bank stock 2,109,000 2,306,000 1,560,000
Investment securities:      
Taxable 29,089,000 29,896,000 32,706,000
Tax-exempt 1,862,000 1,827,000 1,764,000
Total interest income 467,589,000 412,879,000 346,696,000
Interest expense:      
Deposits 149,512,000 133,541,000 81,585,000
Securities sold under agreements to repurchase 2,411,000 3,432,000 2,087,000
Federal funds purchased and other short-term borrowings 283,000 471,000 689,000
Federal Home Loan Bank advances 13,451,000 16,444,000 12,768,000
Subordinated debentures 1,620,000 1,951,000 2,235,000
Total interest expense 167,277,000 155,839,000 99,364,000
Net interest income 300,312,000 257,040,000 247,332,000
Provision for credit losses 6,700,000 9,725,000 13,796,000
Net interest income after provision expense 293,612,000 247,315,000 233,536,000
Non-interest income:      
Mortgage banking income [1] 4,123,000 3,858,000 3,705,000
Loss on sale of securities AFS debt securities 0 0 [1] (44,000) [1]
Bank owned life insurance [1] 2,515,000 2,443,000 2,253,000
Gain on sale of premises and equipment [1] 72,000 (100,000) (30,000)
Total non-interest income 96,948,000 95,230,000 92,220,000
Non-interest expenses:      
Compensation 110,557,000 100,842,000 91,876,000
Employee benefits 21,260,000 20,268,000 18,451,000
Net occupancy and equipment 16,533,000 15,193,000 16,384,000
Technology and communication 19,295,000 19,207,000 17,318,000
Debit and credit card processing 7,613,000 7,262,000 6,481,000
Marketing and business development 7,526,000 6,924,000 5,990,000
Postage, printing and supplies 3,746,000 3,645,000 3,604,000
Legal and professional 4,215,000 4,111,000 3,958,000
FDIC insurance 4,805,000 4,539,000 3,911,000
Capital and deposit based taxes 3,415,000 2,781,000 2,476,000
Intangible amortization 3,658,000 4,485,000 4,686,000
Amortization of investments in tax credit partnerships 0 0 1,294,000
Other 9,741,000 8,922,000 11,400,000
Total non-interest expenses 212,364,000 198,179,000 187,829,000
Income before income tax expense 178,196,000 144,366,000 137,927,000
Income tax expense 38,046,000 29,827,000 30,179,000
Net income $ 140,150,000 $ 114,539,000 $ 107,748,000
Net income per share - basic (in dollars per share) $ 4.77 $ 3.91 $ 3.69
Net income per share - diluted (in dollars per share) $ 4.75 $ 3.89 $ 3.67
Weighted average outstanding shares      
Basic (in shares) 29,363 29,288 29,212
Diluted (in shares) 29,507 29,421 29,343
Fiduciary and Trust [Member]      
Non-interest income:      
Non-interest income $ 42,808,000 $ 42,843,000 $ 39,802,000
Deposit Account [Member]      
Non-interest income:      
Non-interest income 8,732,000 8,906,000 8,866,000
Credit and Debit Card [Member]      
Non-interest income:      
Non-interest income 19,873,000 20,082,000 19,438,000
Treasury Management [Member]      
Non-interest income:      
Non-interest income 11,679,000 11,064,000 10,033,000
Investment Advisory, Management and Administrative Service [Member]      
Non-interest income:      
Non-interest income 4,221,000 3,571,000 3,205,000
Product and Service, Other [Member]      
Non-interest income:      
Non-interest income $ 2,925,000 $ 2,563,000 $ 4,992,000
[1] (1) Outside of the scope of ASC 606.
v3.25.4
Consolidated Statements of Comprehensive Income (Loss) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Net income $ 140,150 $ 114,539 $ 107,748
Reclassification adjustment for loss realized on AFS debt securities (0) (0) (44)
Change in unrealized gain (loss) on AFS debt securities 45,587 (1,873) 30,342
Change in fair value of derivatives used in cash flow hedge (5,812) 4,085 (70)
Minimum pension liability adjustment 98 (77) 237
Total other comprehensive income (loss) before income tax effect 39,677 2,289 30,079
Income tax effect 9,801 642 7,341
Total other comprehensive income (loss) net of tax 29,876 1,647 22,738
Comprehensive income $ 170,026 $ 116,186 $ 130,486
v3.25.4
Consolidated Statements of Changes in Stockholders' Equity - USD ($)
shares in Thousands, $ in Thousands
Common Stock [Member]
Additional Paid-in Capital [Member]
Retained Earnings [Member]
AOCI Attributable to Parent [Member]
Total
Balance (in shares) at Dec. 31, 2022 29,259        
Balance at Dec. 31, 2022 $ 58,367 $ 377,703 $ 439,898 $ (115,536) $ 760,432
Net income 0 0 107,748 0 107,748
Other comprehensive income (loss) 0 0 0 22,738 22,738
Stock compensation expense $ 0 4,464 0 0 4,464
Stock issued for share-based awards, net of withholdings to satisfy employee tax obligations (in shares) 73        
Stock issued for share-based awards, net of withholdings to satisfy employee tax obligations $ 244 3,924 (6,863) 0 (2,695)
Cash dividends declared $ 0 0 (34,584) 0 (34,584)
Shares cancelled (in shares) (3)        
Shares cancelled $ (9) (136) 145 0 0
Shares Cancelled, Shares (in shares) 3        
Balance (in shares) at Dec. 31, 2023 29,329        
Balance at Dec. 31, 2023 $ 58,602 385,955 506,344 (92,798) 858,103
Net income 0 0 114,539 0 114,539
Other comprehensive income (loss) 0 0 0 1,647 1,647
Stock compensation expense $ 0 3,773 0 0 3,773
Stock issued for share-based awards, net of withholdings to satisfy employee tax obligations (in shares) 110        
Stock issued for share-based awards, net of withholdings to satisfy employee tax obligations $ 367 5,801 (10,385) 0 (4,217)
Cash dividends declared $ 0 0 (35,851) 0 (35,851)
Shares cancelled (in shares) (8)        
Shares cancelled $ (30) (448) 478 0 0
Reclassification adjustment - ASU 2023-02 | Accounting Standards Update 2023-02 [Member] $ 0 0 2,482 0 2,482
Shares Cancelled, Shares (in shares) 8        
Balance (in shares) at Dec. 31, 2024 29,431        
Balance at Dec. 31, 2024 $ 58,939 395,081 577,607 (91,151) 940,476
Net income 0 0 140,150 0 140,150
Other comprehensive income (loss) 0 0 0 29,876 29,876
Stock compensation expense $ 0 4,408 0 0 4,408
Stock issued for share-based awards, net of withholdings to satisfy employee tax obligations (in shares) 51        
Stock issued for share-based awards, net of withholdings to satisfy employee tax obligations $ 172 3,691 (5,954) 0 (2,091)
Cash dividends declared $ 0 0 (37,122) 0 (37,122)
Shares cancelled (in shares) (6)        
Shares cancelled $ (21) (360) 381 0 0
Shares Cancelled, Shares (in shares) 6        
Balance (in shares) at Dec. 31, 2025 29,476        
Balance at Dec. 31, 2025 $ 59,090 $ 402,820 $ 675,062 $ (61,275) $ 1,075,697
v3.25.4
Consolidated Statements of Changes in Stockholders' Equity (Parentheticals) - $ / shares
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Common Stock, Dividends, Per Share, Declared (in dollars per share) $ 1.26 $ 1.22 $ 1.18
v3.25.4
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:      
Net income $ 140,150,000 $ 114,539,000 $ 107,748,000
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for credit losses 6,700,000 9,725,000 13,796,000
Depreciation, amortization and accretion, net 7,795,000 13,354,000 21,939,000
Deferred income tax expense (benefit) (2,830,000) (3,116,000) (435,000)
Gain on sale of mortgage loans held for sale (3,293,000) (2,431,000) (1,690,000)
Origination of mortgage loans held for sale (149,329,000) (114,773,000) (105,912,000)
Proceeds from sale of mortgage loans held for sale 152,661,000 116,974,000 104,152,000
Bank owned life insurance income [1] (2,515,000) (2,443,000) (2,253,000)
Gain on the sale of premises and equipment [1] (72,000) 100,000 30,000
Loss on sale of available for sale debt securities 0 0 [1] 44,000 [1]
Gain on other real estate owned (62,000) 0 43,000
Stock compensation expense 4,408,000 3,773,000 4,464,000
Excess tax benefit from share-based compensation arrangements (604,000) (1,228,000) (644,000)
Net change in accrued interest receivable and other assets 9,832,000 (1,337,000) (3,941,000)
Net change in accrued interest payable and other liabilities 3,205,000 9,731,000 (30,638,000)
Net cash provided by operating activities 166,046,000 142,868,000 106,703,000
Cash flows from investing activities:      
Purchases of available for sale debt securities (594,552,000) (396,656,000) (6,025,000)
Proceeeds from sales of available for sale debt securities 0 0 2,412,000
Proceeds from maturities and paydowns of available for sale debt securities 913,258,000 434,765,000 144,449,000
Proceeds from maturities and paydowns of held to maturity debt securities 171,186,000 70,044,000 33,632,000
Purchases of FHLB stock (17,814,000) (33,711,000) (28,800,000)
Proceeds from redemption of FHLB stock 18,700,000 28,344,000 23,492,000
Net change in loans (520,995,000) (738,686,000) (573,599,000)
Purchases of premises and equipment (12,042,000) (9,848,000) (7,731,000)
Proceeds from sale or disposal of premises and equipment 710,000 223,000 1,732,000
Other investment activities (65,100,000) (31,532,000) (14,235,000)
Proceeds from sales of other real estate owned 147,000 0 624,000
Net cash used in investing activities (106,502,000) (677,057,000) (424,049,000)
Cash flows from financing activities:      
Net change in deposits 624,736,000 495,653,000 279,496,000
Net change in securities sold under agreements to repurchase and federal funds purchased (49,727,000) 3,649,000 23,712,000
Proceeds from FHLB advances 1,200,000,000 1,000,000,000 950,000,000
Repayments of FHLB advances (1,200,000,000) (900,000,000) (800,000,000)
Repurchase of common stock (2,091,000) (4,217,000) (2,695,000)
Cash dividends paid (37,106,000) (35,835,000) (34,575,000)
Net cash provided by financing activities 535,812,000 559,250,000 415,938,000
Net change in cash and cash equivalents 595,356,000 25,061,000 98,592,000
Beginning cash and cash equivalents 291,020,000 265,959,000 167,367,000
Ending cash and cash equivalents 886,376,000 291,020,000 265,959,000
Supplemental cash flow information:      
Interest paid 167,449,000 156,021,000 97,930,000
Income taxes paid, net of refunds 21,195,000 19,428,000 35,330,000
Cash paid for operating lease liabilities 4,409,000 4,672,000 4,063,000
Supplemental non-cash activity:      
Change in unfunded commitments in tax credit investments 22,262,000 19,012,000 165,435,000
Due to broker 0 10,447,000 0
Dividends payable to stockholders 271,000 255,000 239,000
Premises and equipment transferred to premises held for sale 0 0 871,000
Loans transferred to OREO $ 265,000 $ 0 $ 0
[1] (1) Outside of the scope of ASC 606.
v3.25.4
Award Timing Disclosure
 12 Months Ended
Dec. 31, 2025
Subsequent Event [Table]  
Award Timing MNPI Disclosure [Text Block]

Item 11. Executive Compensation.         

 

The information required by this Item is incorporated herein by reference to the discussion under the heading, “EXECUTIVE COMPENSATION AND OTHER INFORMATION – REPORT ON EXECUTIVE COMPENSATION” in Bancorp’s Proxy Statement.

 

Information regarding the Compensation Committee is incorporated herein by reference to the discussion under the heading, “TRANSACTIONS WITH MANAGEMENT AND OTHERS” in Bancorp’s Proxy Statement. The report of the Compensation Committee shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section, nor shall it be deemed soliciting material or subject to Regulation 14A of the Exchange Act or incorporated by reference in any filing under the Exchange Act or the Securities Act of 1933, except as shall be expressly set forth by specific reference in such filing.
Award Timing MNPI Considered [Flag] true
v3.25.4
Insider Trading Arrangements
 3 Months Ended 12 Months Ended
Dec. 31, 2025
Dec. 31, 2025
Trading Arrangements, by Individual [Table]    
Material Terms of Trading Arrangement [Text Block]  

Item 9B. Other Information.         

 

(b) During the three months ended December 31, 2025, no director or officer (as defined in Rule 16a-1(f) of the Exchange Act) of the Company adopted or terminated a “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1 trading arrangement,” as each term is defined in Item 408(a) of Regulation S-K.
Rule 10b5-1 Arrangement Adopted [Flag] false  
Non-Rule 10b5-1 Arrangement Adopted [Flag] false  
Rule 10b5-1 Arrangement Terminated [Flag] false  
Non-Rule 10b5-1 Arrangement Terminated [Flag] false  
v3.25.4
Insider Trading Policies and Procedures
 12 Months Ended
Dec. 31, 2025
Insider Trading Policies and Procedures [Line Items]  
Insider Trading Policies and Procedures Adopted [Flag] true
v3.25.4
Cybersecurity Risk Management and Strategy Disclosure
 12 Months Ended
Dec. 31, 2025
Cybersecurity Risk Management, Strategy, and Governance [Line Items]  
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]

Risk Management and Strategy

 

Bancorp has established an Information Security program, which is overseen by the Director of Information Security and the Information Security Officer. This role reports to the Chief Risk Officer. The Information Security program is structured upon and informed by the Center for Internet Security, which aligns with the National Institute of Standards and Technology Cybersecurity Framework. The primary objectives of the Information Security program are to protect the confidentiality, integrity and availability of our information assets, comply with applicable laws, regulations, contractual obligations and manage significant risks arising from cybersecurity threats. These processes are integrated into the institution’s overall risk management system, ensuring a unified approach to risk mitigation.

 

The Information Security program includes several key processes and functions such as access control monitoring, threat detection, vulnerability management, understanding the implications of technological changes, managing third-party relationships, and mandating employee awareness and education among other components. These activities aim to prevent avoidable errors, raise awareness, identify potential vulnerabilities, protect systems, detect security incidents and recover from any incidents that occur. These processes are continually updated and enhanced to keep pace with the evolving cybersecurity landscape.

 

To ensure effective risk management, Bancorp adopts the three lines of defense model, which consists of the following elements:

 

 

●

The first line of defense is operational management, which is responsible for implementing and maintaining the Information Security program, as well as identifying and mitigating cybersecurity risks on a day-to-day basis.
 

●

The second line of defense consists of the risk management and compliance functions, which provide oversight, guidance, and support to the first line of defense, as well as monitoring and reporting on the institution’s cybersecurity posture and performance.
 

●

The third line of defense is the internal audit function, which provides independent assurance of the effectiveness and adequacy of the Information Security program, as well as compliance with relevant policies, standards and regulations.

 

When necessary, the institution engages external assessors, consultants, and auditors with expertise in cybersecurity to evaluate and enhance its systems, policies and procedures. These external parties provide valuable insights into emerging threats and best practices, enhancing Bancorp’s ability to adapt and respond effectively. Bancorp also undergoes reoccurring regulatory examinations, and identified issues are actively tracked and monitored for remediation.

 

In addition to external entities, Bancorp has internal oversight mechanisms to identify cybersecurity risks, including those associated with its use of third-party service providers and related downstream service providers. This includes thorough due diligence during vendor selection, ongoing monitoring, setting clear contractual obligations to uphold cybersecurity standards and other interventions necessary to address risk such as those addressed in Part I Item 1A “Risk Factors.”

 

In the event of a security incident, Bancorp has developed an Incident Response Plan to guide necessary actions. The Incident Response Plan is a well-established document that is updated at least annually. It provides guidance before, during and after a confirmed or suspected security incident, outlining how to minimize the duration and damage of an incident, identifying a response team and streamlining actions to improve recovery time.

 

While Bancorp has not experienced any cybersecurity incidents that have materially affected its operations, it acknowledges the potential impact such risks could have on business strategy, financial condition and operational resilience. The institution remains vigilant, continuously evaluating and enhancing its cybersecurity measures to preemptively address any potential risks that could impact its operations or financial condition. This approach aligns with the institution’s commitment to maintaining the trust and security of its stakeholders in an increasingly digital world.
Cybersecurity Risk Management Processes Integrated [Flag] true
Cybersecurity Risk Management Processes Integrated [Text Block] Bancorp has established an Information Security program, which is overseen by the Director of Information Security and the Information Security Officer. This role reports to the Chief Risk Officer. The Information Security program is structured upon and informed by the Center for Internet Security, which aligns with the National Institute of Standards and Technology Cybersecurity Framework. The primary objectives of the Information Security program are to protect the confidentiality, integrity and availability of our information assets, comply with applicable laws, regulations, contractual obligations and manage significant risks arising from cybersecurity threats. These processes are integrated into the institution’s overall risk management system, ensuring a unified approach to risk mitigation.
Cybersecurity Risk Management Third Party Engaged [Flag] true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] false
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Text Block] While Bancorp has not experienced any cybersecurity incidents that have materially affected its operations, it acknowledges the potential impact such risks could have on business strategy, financial condition and operational resilience. The institution remains vigilant, continuously evaluating and enhancing its cybersecurity measures to preemptively address any potential risks that could impact its operations or financial condition. This approach aligns with the institution’s commitment to maintaining the trust and security of its stakeholders in an increasingly digital world.
Cybersecurity Risk Board of Directors Oversight [Text Block]

Governance

 

Bancorp’s Credit and Risk Committee, which includes board of director representation, maintains a robust oversight framework for evaluating and managing risks associated with cybersecurity threats. The committee convened four times during the year ended December 31, 2025 in order carry out its oversight responsibilities, engaging directly in discussions about cybersecurity risks to ensure they are comprehensively addressed within the institution’s risk management framework. This included, but was not limited to, vulnerability trends, identified or potential third-party risks, risks precipitated by technological changes, confirmed or potential security incidents, policy and procedure changes, the organization’s risk appetite, the FFIEC’s Cybersecurity Assessment Tool, conclusions from the risk assessment, audit and regulatory reports, routine quarterly and annual reporting, as well as other notable key risk indicators.

 

The entire board of directors of Bancorp is actively involved in the oversight of the institution’s cybersecurity risks. The Chair of the Credit and Risk Committee regularly reports the committee’s activities to the board of directors. In addition, management reports to the board of directors on an as-needed basis concerning high-priority information security-related topics, such as cybersecurity incidents. This ensures that the board of directors is always informed and can provide strategic direction on significant cybersecurity matters.

 

A dedicated committee, the Information Security Risk Committee, is specifically responsible for overseeing cybersecurity threats and informing the decisions of the Credit and Risk Committee. The Information Security Risk Committee, comprising individuals with diverse expertise in technology, risk management and cybersecurity, meets monthly. They discuss a range of strategic topics, including vulnerability trends, identified or potential third-party risks, risks precipitated by technological changes, confirmed or potential security incidents and other items related to the institution’s preparedness measures. The Information Security Risk Committee’s purpose is to provide strategic direction for the Information Security program and to evaluate known risks based on Bancorp’s existing controls and risk appetite.

 

Management also plays a crucial role in assessing and managing Bancorp’s cybersecurity risks. Specific roles, such as the Director of Information Security and Information Security Operations Manager, are tasked with monitoring, evaluating, and mitigating these risks in coordination with the Information Security Risk Committee. Both the Director of Information Security and Information Security Operations Manager possess relevant expertise and experience in cybersecurity, enabling them to effectively navigate and respond to emerging threats. The Director of Information Security, who holds a Bachelor’s degree in Computer Science and a Master’s degree in Information Systems Security, along with several relevant industry certifications, has been with Bancorp for five years and has additional experience working in technology outside of the organization. The Information Security Operations Manager, who also holds several relevant certifications, has been with Bancorp’s Information Security department for 21 years and brings extensive experience with technology.

 

To keep the Information Security Risk Committee and Credit and Risk Committee informed, management ensures consistent and structured reporting mechanisms are in place. They regularly update these governing bodies on the prevention, detection and mitigation of cybersecurity incidents. This reporting includes detailed insights into the institution’s cybersecurity posture, ongoing initiatives and any necessary adjustments or enhancements to existing measures.

 

The communication between management, the Information Security Risk Committee, and the Credit and Risk Committee facilitates a holistic understanding of cybersecurity risks, ensuring proactive measures are in place to safeguard Bancorp's operations, preserve its financial stability, and maintain the trust of its stakeholders.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block] Bancorp’s Credit and Risk Committee, which includes board of director representation, maintains a robust oversight framework for evaluating and managing risks associated with cybersecurity threats. The committee convened four times during the year ended December 31, 2025 in order carry out its oversight responsibilities, engaging directly in discussions about cybersecurity risks to ensure they are comprehensively addressed within the institution’s risk management framework. This included, but was not limited to, vulnerability trends, identified or potential third-party risks, risks precipitated by technological changes, confirmed or potential security incidents, policy and procedure changes, the organization’s risk appetite, the FFIEC’s Cybersecurity Assessment Tool, conclusions from the risk assessment, audit and regulatory reports, routine quarterly and annual reporting, as well as other notable key risk indicators.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block] The entire board of directors of Bancorp is actively involved in the oversight of the institution’s cybersecurity risks. The Chair of the Credit and Risk Committee regularly reports the committee’s activities to the board of directors. In addition, management reports to the board of directors on an as-needed basis concerning high-priority information security-related topics, such as cybersecurity incidents. This ensures that the board of directors is always informed and can provide strategic direction on significant cybersecurity matters.
Cybersecurity Risk Role of Management [Text Block] Management also plays a crucial role in assessing and managing Bancorp’s cybersecurity risks. Specific roles, such as the Director of Information Security and Information Security Operations Manager, are tasked with monitoring, evaluating, and mitigating these risks in coordination with the Information Security Risk Committee. Both the Director of Information Security and Information Security Operations Manager possess relevant expertise and experience in cybersecurity, enabling them to effectively navigate and respond to emerging threats. The Director of Information Security, who holds a Bachelor’s degree in Computer Science and a Master’s degree in Information Systems Security, along with several relevant industry certifications, has been with Bancorp for five years and has additional experience working in technology outside of the organization. The Information Security Operations Manager, who also holds several relevant certifications, has been with Bancorp’s Information Security department for 21 years and brings extensive experience with technology.
Cybersecurity Risk Management Positions or Committees Responsible [Flag] true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block] A dedicated committee, the Information Security Risk Committee, is specifically responsible for overseeing cybersecurity threats and informing the decisions of the Credit and Risk Committee. The Information Security Risk Committee, comprising individuals with diverse expertise in technology, risk management and cybersecurity, meets monthly. They discuss a range of strategic topics, including vulnerability trends, identified or potential third-party risks, risks precipitated by technological changes, confirmed or potential security incidents and other items related to the institution’s preparedness measures. The Information Security Risk Committee’s purpose is to provide strategic direction for the Information Security program and to evaluate known risks based on Bancorp’s existing controls and risk appetite.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block] Management also plays a crucial role in assessing and managing Bancorp’s cybersecurity risks. Specific roles, such as the Director of Information Security and Information Security Operations Manager, are tasked with monitoring, evaluating, and mitigating these risks in coordination with the Information Security Risk Committee. Both the Director of Information Security and Information Security Operations Manager possess relevant expertise and experience in cybersecurity, enabling them to effectively navigate and respond to emerging threats. The Director of Information Security, who holds a Bachelor’s degree in Computer Science and a Master’s degree in Information Systems Security, along with several relevant industry certifications, has been with Bancorp for five years and has additional experience working in technology outside of the organization. The Information Security Operations Manager, who also holds several relevant certifications, has been with Bancorp’s Information Security department for 21 years and brings extensive experience with technology.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block] To keep the Information Security Risk Committee and Credit and Risk Committee informed, management ensures consistent and structured reporting mechanisms are in place. They regularly update these governing bodies on the prevention, detection and mitigation of cybersecurity incidents. This reporting includes detailed insights into the institution’s cybersecurity posture, ongoing initiatives and any necessary adjustments or enhancements to existing measures.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] true
v3.25.4
Note 1 - Summary of Significant Accounting Policies
 12 Months Ended
Dec. 31, 2025
Notes to Financial Statements  
Significant Accounting Policies [Text Block]

(1) Summary of Significant Accounting Policies

 

Nature of Operations – Stock Yards Bancorp, Inc. (“Bancorp” or “the Company”) is a FHC headquartered in Louisville, Kentucky. The accompanying consolidated financial statements include the accounts of its wholly owned subsidiary, SYB (“the Bank”). Intercompany transactions and balances are eliminated in consolidation. The consolidated financial statements of Bancorp and its subsidiaries have been prepared in conformity with GAAP and adhere to predominant practices within the banking industry.

 

Established in 1904, SYB is a state-chartered non-member financial institution that provides services in Louisville, central, eastern and northern Kentucky, as well as the Indianapolis, Indiana and Cincinnati, Ohio metropolitan markets through 75 full service banking center locations.

 

Bancorp is divided into two reportable segments: Commercial Banking and WM&T:

 

Commercial Banking provides a full range of loan and deposit products to individual consumers and businesses in all its markets through retail lending, mortgage banking, deposit services, online banking, mobile banking, private banking, commercial lending, commercial real estate lending, leasing, treasury management services, merchant services, international banking, correspondent banking, credit card services and other banking services. The Bank also offers securities brokerage services via its banking center network through an arrangement with a third party broker-dealer in the Commercial Banking segment. 

 

WM&T provides investment management, financial & retirement planning and trust & estate services, as well as retirement plan management for businesses and corporations in all markets in which Bancorp operates. The magnitude of WM&T revenue distinguishes Bancorp from other community banks of similar asset size.

 

As a result of its acquisition of CB on March 7, 2022, Bancorp became the 100% successor owner of the following unconsolidated Delaware trust subsidiaries: Commonwealth Statutory Trust III, Commonwealth Statutory Trust IV and Commonwealth Statutory Trust V. The sole assets of the trust subsidiaries represent the proceeds of offerings loaned in exchange for subordinated debentures with similar terms to the TPS.

 

As a result of its acquisition of Kentucky Bancshares, Inc. on May 31, 2021, Bancorp became the 100% successor owner of a Nevada-based insurance captive taxed under Section 831(b) of the Internal Revenue Code. On April 10, 2023, the IRS issued a proposed regulation that would potentially classify section 831(b) captive activity as a, “listed transaction,” and possibly disallow the related tax benefits, both prospectively and retroactively. The regulation was finalized on January 10, 2025, clarifying what is considered a listed transaction or a transaction of interest. Based on the final regulations, there is no change in the status for the captive insurance structure in place previously, which Bancorp dissolved in 2023. The captive remains classified as a transaction of interest for the open tax years and there is no reserve for an uncertain tax position based on the final regulation.

 

Use of Estimates – To prepare financial statements in conformity with GAAP, management must make estimates and assumptions that require difficult, complex or subjective judgments, some of which may relate to matters that are inherently uncertain. Estimates are susceptible to material changes as a result of changes in facts and circumstances. Facts and circumstances which could affect these judgments include, but are not limited to, changes in interest rates, changes in the performance of the economy and changes in the financial condition of borrowers.

 

Bancorp’s accounting policies are fundamental to understanding management’s discussion and analysis of our results of operations and financial condition. At December 31, 2025, the accounting policy considered the most critical in preparing Bancorp’s consolidated financial statements is the determination of the ACL for loans. A detailed explanation of how Bancorp determines the ACL for loans is provided within this footnote.

 

Accounting for Business Acquisitions – Bancorp accounts for acquisitions in accordance with the acquisition method. The acquisition method requires: a) identification of the entity that obtains control of the acquiree; b) determination of the acquisition date; c) recognition and measurement of the identifiable assets acquired and liabilities assumed, and any non-controlling interest in the acquiree; and d) recognition and measurement of goodwill or bargain purchase gain.

 

Identifiable assets acquired, liabilities assumed, and any non-controlling interest in acquirees are generally recognized at their acquisition-date (“day-one”) fair values. The measurement period for day-one fair values begins on the acquisition date and ends at the earlier of: (a) the day management believes it has all the information necessary to determine day-one fair values; or (b) one year following the acquisition date. In many cases, the determination of day-one fair values requires management to make estimates about discount rates, future expected cash flows, market conditions and other future events that are highly complex and subjective in nature and subject to provisional period adjustments, which are retrospective adjustments to reflect new information existing at the acquisition date affecting day-one fair values. More specifically, these provisional period adjustments may be made, as market value data, such as valuations, are received by the Bank. Increases or decreases to day-one fair values are reflected with a corresponding increase or decrease to bargain purchase gain or goodwill.

 

Acquisition related costs are expensed as incurred unless those costs are related to issuing debt or equity securities used to finance the acquisition.

 

Cash and Cash Equivalents – Cash and cash equivalents include cash and due from banks, FFS and interest bearing due from banks as segregated in the accompanying consolidated balance sheets.

 

Mortgage Loans Held for Sale and Mortgage Banking Activities – Mortgages originated and intended for sale in the secondary market are carried at fair value, as determined by outstanding commitments from investors. Net gains on mortgage loans held for sale are recorded as a component of Mortgage banking income and represent the difference between the selling price and the carrying value of the loans sold. Substantially all of the gains or losses on the sale of loans are reported in earnings when the interest rates on loans are locked. Bancorp has elected the fair value option for mortgage loans held for sale. These loans are intended for sale and management believes that fair value is the best indicator of the resolution of these loans. For loans for which the fair value option has been elected, the Company amortizes premiums and discounts over the life of the loan and any origination fees or costs are recognized as incurred.

 

Commitments to fund mortgage loans (“interest rate lock commitments”) to be sold into the secondary market and non-exchange traded mandatory forward sales contracts (“forward contracts”) for the future delivery of these mortgage loans or the purchase of TBA securities are accounted for as free-standing derivatives. Fair values of these mortgage derivatives are estimated based on changes in mortgage interest rates from the date the Bank enters into the derivative. Generally, the Bank enters into forward contracts for the future delivery of mortgage loans or the purchase of TBA securities when interest rate lock commitments are entered into in order to hedge the change in interest rates resulting from its commitments to fund the loans. Changes in the fair values of these mortgage derivatives are included in net gains on sales of loans, which is a component of mortgage banking income on the income statement.

 

Mortgage loans held for sale are generally sold with the MSRs retained. When mortgage loans are sold with servicing retained, they are reported at the lower of amortized cost or fair value. Servicing rights are initially recorded at fair value with the income statement effect recorded as component of mortgage banking income. Fair value is based on the market prices for comparable mortgage servicing contracts when available, or alternatively, is based on a valuation model that calculates the present value of estimated future net servicing income. All classes of servicing assets are subsequently measured using the amortization method, which requires servicing rights to be amortized into mortgage banking income in proportion to, and over the period of, the estimated future net servicing income of the underlying loans. Amortization of MSRs are initially set at seven years and are periodically adjusted based on the weighted average remaining life of the underlying loans.

 

A primary factor influencing the MSR fair value is the estimated life of the underlying serviced loans. The estimated life of the serviced loans is significantly influenced by market interest rates. During a period of declining interest rates, the fair value of the MSRs generally decline due to higher expected prepayments within the portfolio. Alternatively, during a period of rising interest rates, the fair value of MSRs generally will increase, as prepayments on the underlying loans would be expected to decline.

 

Loan servicing income is reported on the income statement as a component of Mortgage banking income. Loan servicing income is recorded as loan payments are collected and includes servicing fees from investors and certain charges collected from borrowers. The fees are based on a contractual percentage of the outstanding principal, or a fixed amount per loan, and are recorded as income when earned. Late fees and ancillary fees related to loan servicing are considered nominal.

 

Debt Securities – Bancorp determines the classification of debt securities at the time of purchase. Debt securities that management has the positive intent and ability to hold to maturity are classified as held to maturity and recorded at amortized cost. Debt securities not classified as held to maturity are classified as AFS and recorded at fair value, with unrealized gains and losses excluded from earnings and reported in AOCI, net of tax.

 

Gains and losses on the sale of securities are recorded on the trade date and are determined using the specific-identification method. Amortization of premiums and discounts are recognized in interest income over the period to maturity using the interest method, except for premiums on callable debt securities, which are amortized to their earliest call date.

 

Bancorp has made a policy election to exclude accrued interest from the amortized cost basis of debt securities and reports accrued interest separately in the consolidated balance sheets. A debt security is placed on non-accrual status at the time any principal or interest payments become more than 90 days delinquent or if full collection of interest or principal becomes uncertain. Accrued interest for a security placed on non-accrual is reversed against interest income. There was no accrued interest related to AFS debt securities reversed against interest income for the years ended December 31, 2025 and 2024.

 

ACL – AFS Debt Securities – For AFS debt securities in an unrealized loss position, Bancorp evaluates the securities to determine whether the decline in the fair value below the amortized cost basis (impairment) is due to credit-related factors or non-credit related factors. Any impairment that is not credit-related is recognized in AOCI, net of tax. Credit-related impairment is recognized as an ACL for AFS debt securities on the balance sheet, limited to the amount by which the amortized cost basis exceeds the fair value, with a corresponding adjustment to earnings. Accrued interest receivable on AFS debt securities is excluded from the estimate of credit losses. Both the ACL for AFS debt securities and the adjustment to net income may be reversed if conditions change. However, if Bancorp intends to sell an impaired AFS debt security or more likely than not will be required to sell such a security before recovering its amortized cost basis, the entire impairment amount would be recognized in earnings with a corresponding adjustment to the security’s amortized cost basis. Because the security’s amortized cost basis is adjusted to fair value, there is no ACL for AFS debt securities in this situation.

 

In evaluating AFS debt securities in unrealized loss positions for impairment and the criteria regarding its intent or requirement to sell such securities, Bancorp considers the extent to which fair value is less than amortized cost, whether the securities are issued by the federal government, its agencies or its sponsored enterprises, whether downgrades by bond rating agencies have occurred, and the results of reviews of the issuers’ financial condition, among other factors. There were no credit related factors underlying unrealized losses on AFS debt securities at December 31, 2025 and December 31, 2024, therefore, no ACL for AFS securities was recorded.

 

Changes in the ACL for AFS debt securities are recorded as expense. Losses are charged against the ACL for AFS debt securities when management believes the uncollectability of an AFS debt security is confirmed or when either of the criteria regarding intent or requirement to sell is met.

 

ACL – HTM Debt Securities – Bancorp measures expected credit losses on HTM debt securities on a collective basis by major security type. Accrued interest receivable on HTM debt securities is excluded from the ACL on HTM securities. The estimate of the ACL for HTM securities considers historical credit loss information that is adjusted for current conditions and reasonable and supportable forecasts. As of both December 31, 2025 and December 31, 2024, no ACL for HTM securities was recorded.

 

FHLB Stock – Bancorp is a member institution of the FHLB. Members are required to own a certain amount of stock based on the level of borrowings and other factors and may invest in additional amounts of stock. FHLB stock is carried at cost, classified as a restricted security and annually evaluated for impairment. Because this stock is viewed as a long-term investment, impairment is based on ultimate recovery of par value. Both cash and stock dividends are recorded as interest income.

 

Loans – Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are reported at amortized cost basis, which is the unpaid principal balance outstanding, net of unearned income, deferred loan fees and costs, premiums and discounts associated with acquisition date fair value adjustments on acquired loans and any direct partial charge-offs. Bancorp has made a policy election to exclude accrued interest from the amortized cost basis of loans and report accrued interest separately from the related loan balance in the consolidated balance sheets.

 

Interest income is accrued on the unpaid principal balance. Loan origination fees, net of certain direct origination costs, are deferred and recognized in interest income over the life of the loan without anticipating prepayments.

 

Loans are considered past due or delinquent when the contractual principal and/or interest due in accordance with the terms of the loan agreement or any portion thereof remains unpaid after the due date of the scheduled payment. The accrual of interest income on loans is typically discontinued at the time the loan is 90 days delinquent unless the loan is well-secured and in process of collection, or if full collection of interest or principal becomes doubtful. Consumer loans are typically charged off no later than 120 days past due. All interest accrued but not received for a loan placed on non-accrual is reversed against interest income. Interest received on such loans is accounted for on the cash-basis or cost-recovery method, until qualifying for return to accrual. Under the cost-recovery method, interest income is not recognized until the loan balance is reduced to zero. Under the cash-basis method, interest income is recorded when the payment is received in cash. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured.

 

Acquired loans are recorded at fair value at the date of acquisition based on a DCF methodology that considers various factors including the type of loan and related collateral, classification status, fixed or variable interest rate, term of loan and whether or not the loan was amortizing, and a discount rate reflecting Bancorp’s assessment of risk inherent in the cash flow estimates. Certain larger purchased loans are individually evaluated while certain purchased loans are grouped together according to similar risk characteristics and are treated in aggregate when applying various valuation techniques. These cash flow evaluations are inherently subjective, as they require material estimates, all of which may be susceptible to significant change.

 

Loans acquired in a business combination that have experienced more-than-insignificant deterioration in credit quality since origination are considered PCD loans. At the acquisition date, an estimate of expected credit losses is made for groups of PCD loans with similar risk characteristics and individual PCD loans without similar risk characteristics. This initial ACL is allocated to individual PCD loans and added to the purchase price or acquisition date fair values to establish the initial amortized cost basis of the PCD loans. As the initial ACL is added to the purchase price, there is no credit loss expense recognized upon acquisition of a PCD loan. Any difference between the unpaid principal balance of PCD loans and the amortized cost basis is considered to relate to non-credit factors and results in a discount or premium. Discounts and premiums are recognized through interest income on a level-yield method over the life of the loans.

 

Acquired loans are determined by Bancorp to have more-than-insignificant deterioration in credit quality since origination if any of the following designations apply, listed in order of priority as follows: Loans individually analyzed by Bancorp and determined to have a collateral or cash flow deficiency resulting in a full or partial allocation for loss, loans placed on non-accrual status by the acquired institution, loans identified as modifications to borrowers experiencing financial difficulty by the acquired institution, loans that have received a partial charge off by the acquired institution, loans risk-rated below a “pass” grade by the acquired institution and any loans past due 59 days or more at the time of acquisition.

 

For acquired loans not deemed PCD at acquisition, the differences between the initial fair value and the unpaid principal balance are recognized as interest income over the lives of the related loans. For non-PCD loans, an initial ACL on loans is estimated and recorded as credit loss expense at the acquisition date.

 

The subsequent measurement of expected credit losses for all acquired loans is the same as the subsequent measurement of expected credit losses for originated loans.

 

ACL – Loans – Under the CECL model, the ACL on loans represents a valuation allowance estimated at each balance sheet date that is deducted from the loans’ amortized cost basis to represent the net amount expected to be collected on the loan portfolio.

 

Bancorp estimates the ACL on loans based on the underlying assets’ amortized cost basis, which is the amount at which the receivable is originated or acquired, adjusted for applicable accretion or amortization of premium, discount, and net deferred fees or costs, collection of payment, and partial charge-offs. In the event that collection of principal becomes uncertain, Bancorp has policies in place to reverse accrued interest in a timely manner. Therefore, Bancorp has made a policy election to exclude accrued interest from the measurement of the ACL on loans.

 

Expected credit losses are reflected in the ACL on loans through a charge to provision for credit losses on loans. When Bancorp deems all or a portion of a financial asset to be uncollectible, the appropriate amount is written-off and the ACL on loans is reduced by the same amount. Bancorp applies judgment to determine when a financial asset is deemed uncollectible; however, generally speaking, an asset will be considered uncollectible no later than when all efforts of collection have been exhausted and the collateral, if any, has been liquidated. Subsequent recoveries, if any, are credited to the ACL on loans when received.

 

Bancorp’s methodologies for estimating the ACL on loans consider available relevant information about the collectability of cash flows, including information about past events, current conditions and reasonable and supportable forecasts. The methodologies apply historical loss information, adjusted for asset-specific characteristics, economic conditions at the measurement date, and forecasts about future economic conditions expected to exist through the contractual lives of the financial assets that are reasonable and supportable to the identified pools of financial assets with similar risk characteristics for which the historical loss experience was observed. Bancorp’s methodologies may revert to historical loss information on a straight-line basis over a number of quarters when it can no longer develop reasonable and supportable forecasts.

 

Loans are predominantly segmented into loan pools that have similar risk characteristics, similar collateral types and are assumed to pose consistent risk of loss to Bancorp. Bancorp has identified the following pools of financial assets with similar risk characteristics for measuring expected credit losses:

 

Commercial Real Estate – Non-Owner Occupied – Includes investment real estate loans secured by a variety of commercial property types and purposes. The primary source of income for this loan type is typically rental income associated with the property. This category also includes apartment or multifamily residential buildings (secured by five or more dwelling units).

 

Commercial Real Estate – Owner Occupied – Includes non-farm, non-residential real estate loans for a variety of commercial property types and purposes, and is typically secured by commercial offices, industrial buildings, warehouses or retail buildings where the owner of the building occupies the property. The primary source of repayment is the cash flow from the ongoing operations and activities conducted by the party (or affiliate) who owns the property. Repayment terms vary considerably; interest rates are fixed or variable and structured for full or partial amortization of principal.

 

Commercial and Industrial – Represents loans for C&I purposes to sole proprietorships, partnerships, corporations and other business enterprises, whether secured (other than those that meet the definition of a “loan secured by real estate”) or unsecured, single payment or installment. This category includes loans originated for financing capital expenditures, loans secured by accounts receivable, inventory and other business assets such as equipment, non-real estate related construction loans in addition to non-real estate loans guaranteed by the SBA. Bancorp originates these loans for a variety of purposes across various industries. This portfolio has been segregated between term loans and revolving lines of credits based on the varied characteristics of these individual loan structures.

 

Residential Real Estate – Includes non-revolving (closed-end) first and junior lien loans secured by residential real estate primarily in Bancorp’s market areas. This portfolio has been segregated between owner occupied and non-owner occupied status, as the investment nature of the latter poses additional credit risks to Bancorp.

 

Construction and Land Development – Consists of loans to finance the ground up construction or improvement of owner occupied and non-owner occupied residential and commercial properties and loans secured by raw or improved land. The repayment of C&D loans is generally dependent upon the successful completion of the improvements by the builder for the end user, the leasing of the property, or sale of the property to a third party. Repayment of land secured loans is dependent upon the successful development and sale of the property, the sale of the land as is, or the outside cash flow of the owners to support the retirement of the debt. Bancorp’s construction loans may convert to real estate-secured loans once construction is completed or principal amortization payments begin, assuming the borrower retains financing with the Bank.

 

Home Equity Lines of Credit – Similar to residential real estate above, however these are revolving (open-ended) lines of credit.

 

Consumer – Represents loans to individuals for personal expenditures that may be secured or unsecured. This includes pre-arranged overdraft plans, secured automobile loans and other consumer-purpose loans.

 

Leases – Represents a variety of equipment leasing options to businesses.

 

Credit Cards – Represents revolving short-term loans to businesses and, to a lesser extent, consumers.

 

Bancorp measures expected credit losses for its loan portfolio segments as follows:

 

Loan Portfolio Segment

  

ACL Methodology
     

Commercial real estate - non-owner occupied

  

Discounted cash flow

Commercial real estate - owner occupied

  

Discounted cash flow

Commercial and industrial - term

  

Static pool

Commercial and industrial - line of credit

  

Static pool

Residential real estate - owner occupied

  

Discounted cash flow

Residential real estate - non-owner occupied

  

Discounted cash flow

Construction and land development

  

Static pool

Home equity lines of credit

  

Static pool

Consumer

  

Static pool

Leases

  

Static pool

Credit cards

  

Static pool

 

Discounted Cash flow Method – The DCF methodology is used to develop cash flow projections at the instrument level wherein payment expectations are adjusted for estimated prepayment speeds, curtailments, time to recovery, probability of default and loss given default. The modeling of expected prepayment speeds, curtailment rates and time to recovery are based on historical internal data.

 

Bancorp uses regression analysis on historical internal and peer data to determine suitable loss drivers to utilize when modeling lifetime probability of default and loss given default. This analysis also determines how expected probability of default and loss given default will react to forecasted levels of the loss drivers. For all loan pools utilizing the DCF method, management utilizes a forecasted unemployment rate as its primary loss driver, as this was determined to best correlate to historical losses. Management has determined that four quarters represents a reasonable and supportable forecast period with reversion back to a historical loss rate over four quarters on a straight-line basis.

 

The combination of adjustments for credit expectations (default and loss) and timing expectations (prepayment, curtailment, and time to recovery) produces an expected cash flow stream at the instrument level. Instrument effective yield is calculated, net of the impacts of prepayment assumptions, and the instrument expected cash flows are then discounted at that effective yield to produce an instrument-level NPV of expected cash flows. An ACL is established for the difference between the instrument’s NPV and amortized cost basis.

 

Static Pool Method – The static pool methodology is utilized for the loan portfolio segments that typically have shorter durations. For each of these loan segments, Bancorp applies an expected loss ratio based on historical losses adjusted as appropriate for qualitative loss factors. Qualitative loss factors are based on management's judgment of Company, market, industry or business specific data, changes in underlying loan composition of specific portfolios, trends relating to credit quality, delinquency, non-performing and adversely rated loans and reasonable and supportable forecasts of economic conditions.

 

Collateral Dependent Loans – Loans that do not share risk characteristics are evaluated on an individual basis. For collateral dependent loans where Bancorp has determined that the liquidation or foreclosure of the collateral is probable, or where the borrower is experiencing financial difficulty and Bancorp expects repayment of the financial asset to be provided substantially through the operation of the business or sale of the collateral, the ACL is measured based on the difference between the estimated fair value of the collateral and the amortized cost basis of the asset as of the measurement date. When repayment is expected to be from the operation of the collateral, expected credit losses are calculated as the amount by which the amortized cost basis of the financial asset exceeds the NPV of expected cash flows from the operation of the collateral. When repayment is expected to be generated by the sale of the collateral, expected credit losses are calculated as the amount by which the amortized cost basis of the financial asset exceeds the fair value of the underlying collateral, less estimated cost to sell. The ACL may be zero if the fair value of the collateral at the measurement date exceeds the amortized cost basis of loan. Bancorp’s estimate of the ACL reflects losses expected over the remaining contractual life of the loan and the contractual term does not consider extensions, renewals or modifications.

 

Premises and Equipment – Premises and equipment are carried at cost, less accumulated depreciation and amortization. Depreciation of premises and equipment is computed using straight-line methods over the estimated useful lives of the assets ranging from three to 40 years. Leasehold improvements are amortized on the straight-line method over terms of the related leases, including expected renewals, or over the useful lives of the improvements, whichever is shorter. Maintenance and repairs are expensed as incurred while major additions and improvements are capitalized.

 

Premises held for sale are carried at the lower of fair value or cost, less accumulated depreciation and amortization. Premises held for sale represent properties owned by Bancorp that are currently listed for sale due mainly to location overlap and/or lack of necessity stemming from acquisition-related activity.

 

Goodwill and Other Intangible Assets – Goodwill resulting from business acquisitions represents the excess of the fair value of the consideration transferred, plus the fair value of any non-controlling interests in the acquiree, over the fair value of the net assets assumed as of the acquisition date. Goodwill and intangible assets acquired in a purchase business combination and determined to have an indefinite useful life are not amortized, but tested annually for impairment or more frequently if events and circumstances exist that indicate a goodwill impairment test should be performed.

 

In 2025, Bancorp changed its goodwill impairment testing date from September 30 to October 1. The change was applied prospectively and was not material to the Company’s consolidated financial statements, as it did not delay, accelerate or avoid an impairment charge. Intangible assets with definite useful lives are amortized over their estimated useful lives to their estimated residual values. Goodwill is the only intangible asset with an indefinite life on Bancorp’s balance sheet.

 

Based on its assessment, Bancorp believes its goodwill balances at December 31, 2025 and December 31, 2024 were not impaired and are properly recorded in the consolidated financial statements.

 

Other intangible assets consist of CDI and CLI assets arising from business acquisitions. The CDI and CLI assets represent customer relationships associated with acquired deposit portfolios and WM&T businesses, respectively. CDI and CLI assets are initially measured at fair value and then amortized on an accelerated method over their estimated useful lives.

 

Other Assets – BOLI and other life insurance policies are carried at cash surrender value, which considers applicable surrender charges. Also, Bancorp maintains life insurance policies in conjunction with its non-qualified defined benefit and non-qualified compensation plans.

 

OREO is initially recorded at fair value, less estimated costs to sell, establishing a new cost basis for the asset. OREO is subsequently carried at the lower of cost or estimated fair value minus estimated selling costs. In certain situations, improvements to prepare assets for sale are capitalized if those costs increase the estimated fair value of the asset. Expenses incurred in maintaining assets, write downs to reflect subsequent declines in value, and realized gains or losses are reflected in the results of operations and are included in non-interest income and/or expense.

 

Bancorp periodically invests in certain partnerships that generate federal income tax credits. The tax benefit of these investments exceeds the amortization expense associated with them, resulting in a positive impact on net income. In addition to income tax benefits, these investments also serve as an economical means of achieving CRA goals. The investments in such partnerships are recorded in other assets on the consolidated balance sheets, while the corresponding contribution requirements are recorded in other liabilities. While contributions are made periodically over the life of the respective investments, which can be up to 10 years depending on the type of investment, the majority of contributions associated with a respective investment are made within the first few years after entering the partnership.

 

Effective January 1, 2024, Bancorp adopted ASU 2023-02, “Investments – Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method.” As a result, all of Bancorp’s investments in tax credit partnerships are now accounted for under the proportional amortization method, with related amortization expense recorded within income tax expense on the condensed consolidated income statements. Prior to 2024, Bancorp used both the effective yield and the proportional amortization methods to account for these investments, with related amortization expense recorded as a component of non-interest expenses on the condensed consolidated income statements. The adoption of this ASU resulted in a one-time $2.5 million increase in retained earnings, which was recorded at the date of adoption.

 

Off-Balance Sheet Credit Exposures – Financial instruments include off-balance sheet credit instruments, such as commitments to originate loans, commitments to fund existing loans and commercial letters of credit issued to meet customer-financing needs. Off-balance sheet refers to assets or liabilities that do not appear on a company's balance sheet. Bancorp’s exposure to credit loss in the event of non-performance by the other party to the financial instrument for off-balance sheet loan commitments is represented by the contractual amount of those instruments. Such financial instruments are recorded when they are funded.

 

Bancorp records an ACL for off-balance sheet credit exposures, unless the commitments to extend credit are unconditionally cancelable, through a charge to credit loss expense for off-balance sheet credit exposures included in provision for credit losses on Bancorp’s consolidated statements of income. The ACL for off-balance sheet credit exposures is estimated by loan portfolio segment at each balance sheet date under the current CECL model using the same methodologies as portfolio loans, taking into consideration the likelihood that funding will occur and is included in other liabilities on Bancorp’s consolidated balance sheets.

 

Derivatives – Bancorp uses derivative financial instruments, including interest rate swaps, as part of its interest rate risk management. Bancorp’s interest rate swaps are recognized as other assets and liabilities in the consolidated balance sheet at fair value. Accounting for changes in fair value of derivatives depends on the intended use of the derivative and the resulting designation. Derivatives used to hedge exposure to variability in expected future cash flows, or other types of forecasted transactions, are designated as cash flow hedges.

 

For derivatives designated as cash flow hedges, changes in fair value of the derivative are initially reported in OCI and subsequently reclassified to interest income or expense when the hedged transaction affects earnings. No component of the change in the fair value of the hedging instrument is excluded from the assessment of hedge effectiveness.

 

Periodically, Bancorp enters into an interest rate swap transaction with a borrower, who desires to hedge exposure to rising interest rates, while at the same time entering into an offsetting interest rate swap, with substantially matching terms, with another approved independent counterparty. Because of matching terms of offsetting contracts and collateral provisions mitigating any non-performance risk, changes in fair value subsequent to initial recognition have an insignificant effect on earnings. Because these derivative instruments have not been designated as hedging instruments, the derivative instruments are recognized on the consolidated balance sheet at fair value, with changes in fair value, due to changes in prevailing interest rates, recorded in other noninterest income.

 

Bancorp manages certain credit exposure from its derivative transactions by entering into master netting agreements. The relevant agreements allow for efficient closeout of transactions, liquidation and setoff of collateral against the net amount owed by the counterparty in the event of default. In connection with its derivative transactions, Bancorp may receive or pledge cash collateral with its counterparties to satisfy initial, maintenance and/or variation margin requirements. Variation margin is accounted for as collateral. Bancorp has made a policy election to present its derivative positions at fair value on a net basis when a right of offset exists, based on transactions with a single counterparty for derivative contracts that are subject to legally enforceable master netting agreements.

 

Bancorp had no fair value hedging relationships at December 31, 2025 and December 31, 2024. Bancorp does not use derivatives for trading or speculative purposes. See the footnote titled “Derivative Financial Instruments” for additional discussion.

 

Transfers of Financial Assets – Transfers of financial assets are accounted for as sales when control over the assets has been relinquished. Control over transferred assets is deemed to be surrendered when the assets have been isolated from Bancorp, the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets and Bancorp does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity. If the sale criteria are not met, the transfer is recorded as a secured borrowing in which the assets remain on the balance sheet and the proceeds from the transaction are recognized as a liability.

 

Stock-Based Compensation – For all awards, stock-based compensation expense is recognized over the period in which it is earned based on the grant-date fair value of the portion of stock-based payment awards that are ultimately expected to vest, reduced for estimated forfeitures at the time of grant. Forfeitures are estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates.

 

Income Taxes – Income tax expense is the total of the current year income tax due or refundable and the change in DTAs and DTLs. DTAs and DTLs are the expected future tax amounts for the temporary differences between carrying amounts and tax bases of assets and liabilities, computed using enacted statutory tax rates. A valuation allowance, if needed, reduces DTAs to the amount expected to be realized.

 

A tax position is recognized as a benefit only if it is “more-likely-than-not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized upon examination. For tax positions not meeting the “more-likely-than-not” test, no tax benefit is recorded.

 

Bancorp recognizes interest and/or penalties related to income tax matters in income tax expense, if any.

 

Bancorp periodically invests in certain partnerships with customers that yield historic tax credits. The tax benefit of these investments exceeds the amortization expense associated with them, resulting in a positive impact on net income. Effective January 1, 2024, Bancorp adopted ASU 2023-02, “Investments – Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method.” As a result, all of Bancorp’s investments in tax credit partnerships are now accounted for under the proportional amortization method, with related amortization expense recorded within income tax expense on the condensed consolidated income statements. Prior to 2024, Bancorp used both the effective yield and the proportional amortization methods to account for these investments, with related amortization expense recorded as a component of non-interest expenses on the condensed consolidated income statements.

 

Net Income Per Share – Basic net income per common share is determined by dividing net income by the weighted average number of shares of common stock outstanding. Diluted net income per share is determined by dividing net income by the weighted average number of shares of common stock outstanding plus the weighted average number of shares that would be issued upon exercise of dilutive options and SARs, assuming proceeds are used to repurchase shares under the treasury stock method.

 

Comprehensive Income (Loss) – Comprehensive income (loss) is defined as the change in equity (net assets) of a business enterprise during a period from transactions and other events and circumstances from outside of the Company’s control. For Bancorp, this includes net income, changes in unrealized gains and losses on AFS debt securities and cash flow hedging instruments, net of reclassification adjustments and taxes, and minimum pension liability adjustments, net of taxes.

 

Loss Contingencies – Loss contingencies, including claims and legal actions arising in the ordinary course of business, are recorded as liabilities when the likelihood of loss is probable, and an amount or range of loss can be reasonably estimated. Management does not believe there are any outstanding matters that would have a material effect on the financial statements.

 

Restrictions on Cash and Cash Equivalents – Bancorp has historically been required by the FRB to maintain average reserve balances. Effective March 26, 2020, the FRB reduced the reserve requirement ratio to 0% in response to the COVID-19 pandemic, eliminating reserve requirements for all depository institutions. The reserve requirement ratio remained at 0% as of December 31, 2025.

 

Dividend Restriction – Banking regulations require maintaining certain capital levels and may limit the dividends paid by the Bank to the Holding Company or by the Holding Company to shareholders.

 

Fair Value of Financial Instruments – Fair values of financial instruments are estimated using relevant market information and other assumptions, as disclosed in footnote titled “Assets and Liabilities Measured and Reported at Fair Value” in this section of the filing. Fair value estimates involve uncertainties and matters of significant judgment regarding interest rates, credit risk, prepayments, and other factors, especially in the absence of broad markets for particular items. Changes in assumptions or in market conditions could significantly affect such estimates.

 

Revenue from Contracts with Customers – The majority of Bancorp’s revenue comes from interest income and other sources, including loans, leases, securities, and derivatives, which are not subject to ASC 606. Bancorp’s services that fall within the scope of ASC 606 are presented within non-interest income and are recognized as revenue as Bancorp satisfies its obligation to its customer. See the footnote titled “Revenue from Contracts with Customers” for additional discussion.

 

Segment Information – Bancorp provides a broad range of financial services to individuals, corporations and others through its full service banking locations. These services include loan and deposit services, cash management services, securities brokerage activities, mortgage origination and WM&T activities. Bancorp’s operations are considered by management to be aggregated in two reportable operating segments: Commercial Banking and WM&T, as disclosed in footnote titled “Segments.”

 

Adoption of New Accounting Guidance – On January 1, 2025, Bancorp adopted ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures,” on a prospective basis. The amendments in this update provide expanded disclosures relating to the effective tax rate reconciliation and information related to income taxes paid. The adoption of this ASU did not have a material impact on Bancorp’s consolidated financial statements.

 

Accounting Standards Updates – In November 2024, the FASB issued ASU 2024-03, “Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses.” This update requires disaggregated disclosure of income statement expenses for public business entities. New financial statement disclosures are required in tabular format, disaggregating information about prescribed categories underlying any relevant income statement expense caption. The prescribed categories include, among other things, employee compensation, depreciation, and intangible asset amortization. Additionally, entities must disclose the total amount of selling expenses and, in annual reporting periods, an entity’s definition of selling expenses. ASU 2024-03 is effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. Bancorp is evaluating the impact this ASU will have on our financial statements.

 

In November 2025, the FASB issued ASU 2025-08, “Financial Instruments – Credit Losses (Topic 326): Purchased Loans.” ASU 2025-08 expands the scope of the “gross up” method, formerly applicable only to PCD assets, to include acquired non-PCD loans that meet certain criteria, now referred to as “purchased seasoned loans,” (PSLs). Under this model, an allowance for expected credit losses is recognized at acquisition, offsetting the loan’s amortized cost basis, thereby eliminating the day-one credit-loss expense previously required for non-PCD assets. PSLs are defined as non-PCD loans acquired either (i) through a business combination, or (ii) purchased more than 90 days after origination, when the acquirer was not involved in origination. ASU 2025-08 is effective, on a prospective basis for loans acquired on or after the adoption date, for interim and annual periods beginning in 2027, though early adoption is permitted. Bancorp is evaluating the impact this ASU will have on our financial statements.

 
v3.25.4
Note 2 - Cash and Due From Banks
 12 Months Ended
Dec. 31, 2025
Notes to Financial Statements  
Restrictions on Cash and Due from Banks Disclosure [Text Block]

(2) Cash and Due from Banks

 

At December 31, 2025 and 2024, Bancorp’s interest-bearing cash accounts and non-interest bearing deposits held at other financial institutions exceeded federally insured limits. Each correspondent bank’s financial performance and market rating are reviewed on a quarterly basis to ensure Bancorp maintains deposits only at highly rated institutions, providing minimal risk for those exceeding federally insured limits. Bancorp had approximately $808 million and $219 million held cumulatively at the FRB and FHLB as of December 31, 2025 and December 31, 2024, which are government-sponsored entities not insured by the FDIC. The vast majority of these balances were held at the FRB.

 

Bancorp has historically been required to maintain an average reserve balance in cash or with the FRB relating to customer deposits. However, effective March 26, 2020, the FRB reduced the requirement ratio to 0% in response to the COVID-19 pandemic, eliminating the reserve requirements for all depository institutions. The reserve requirement remained at 0% as of December 31, 2025.

 
v3.25.4
Note 3 - Investment Securities
 12 Months Ended
Dec. 31, 2025
Notes to Financial Statements  
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]

(3) Investment Securities

 

AFS Debt Securities

 

The following table summarizes the amortized cost, unrealized gains and losses, and fair value of Bancorp’s AFS debt securities portfolio:

 

(in thousands)

  

Amortized

   

Unrealized

          
December 31, 2025   cost    

Gains

    

Losses

     Fair value  
                                 

Government sponsored enterprise obligations

   $ 75,459     $ 97     $ (2,737 )   $ 72,819  

Mortgage backed securities

     602,261       322       (67,576 )     535,007  

Obligations of states and political subdivisions

     123,083       10       (9,339 )     113,754  

Other

     568       -       (37 )     531  

Total available for sale debt securities

   $ 801,371     $ 429     $ (79,689 )   $ 722,111  
                                 

December 31, 2024

                                
                                 

U.S. Treasury and other U.S. Government obligations

   $ 198,182     $ 33     $ -     $ 198,215  

Government sponsored enterprise obligations

     88,895       110       (4,847 )     84,158  

Mortgage backed securities

     696,767       -       (105,790 )     590,977  

Obligations of states and political subdivisions

     128,431       1       (14,198 )     114,234  

Other

     2,686       -       (156 )     2,530  

Total available for sale debt securities

   $ 1,114,961     $ 144     $ (124,991 )   $ 990,114  

 

HTM Debt Securities

 

The following table summarizes the amortized cost, unrecognized gains and losses, and fair value of Bancorp’s HTM debt securities portfolio:

 

(in thousands)

  

Carrying

    

Unrecognized

          
December 31, 2025   value    

Gains

    

Losses

     Fair value  
                                 

U.S. Treasury and other U.S. Government obligations

   $ 1,994     $ -     $ (12 )   $ 1,982  

Government sponsored enterprise obligations

     22,957       -       (1,112 )     21,845  

Mortgage backed securities

     173,995       5       (16,624 )     157,376  

Total held to maturity debt securities

   $ 198,946     $ 5     $ (17,748 )   $ 181,203  
                                 

December 31, 2024

                                

U.S. Treasury and other U.S. Government obligations

   $ 153,850     $ -     $ (741 )   $ 153,109  

Government sponsored enterprise obligations

     25,395       -       (2,034 )     23,361  

Mortgage backed securities

     190,926       2       (26,041 )     164,887  

Total held to maturity debt securities

   $ 370,171     $ 2     $ (28,816 )   $ 341,357  

 

All investment securities classified as HTM by Bancorp as of December 31, 2025 and December 31, 2024 are obligations of the U.S. Government and/or are issued by government-sponsored enterprises and have an explicit government guarantee or have a credit rating on par with the U.S. government and are generally considered risk-free. Therefore, no ACL was recorded for Bancorp’s HTM securities as of December 31, 2025 and December 31, 2024. Further, as of December 31, 2025 and December 31, 2024, none of Bancorp’s HTM securities were on non-accrual or in past due status.

 

Debt Securities by Contractual Maturity

 

A summary of AFS and HTM debt securities by contractual maturity as of December 31, 2025 follows:

 

   

AFS Debt Securities

    

HTM Debt Securities

  

(in thousands)

  

Amortized cost

    

Fair value

    

Carrying value

    

Fair value

  
                                 

Due within one year

   $ 9,972     $ 9,926     $ 2,691     $ 2,675  

Due after one year but within five years

     33,386       32,533       213       212  

Due after five years but within 10 years

     93,880       85,256       21,661       20,560  

Due after 10 years

     61,872       59,389       386       380  

Mortgage backed securities

     602,261       535,007       173,995       157,376  

Total

   $ 801,371     $ 722,111     $ 198,946     $ 181,203  

 

Actual maturities may differ from contractual maturities because some issuers have the right to call or prepay obligations with or without prepayment penalties. The investment portfolio includes MBS, which are guaranteed by agencies such as FHLMC, FNMA and GNMA. These securities differ from traditional debt securities primarily in that they may have uncertain principal payment dates and are priced based on estimated prepayment rates on the underlying collateral.

 

Accrued interest on the investment securities portfolio (AFS and HTM) totaled $4 million and $5 million at December 31, 2025 and 2024, respectively, and was included in the consolidated balance sheets.

 

No gains or losses on sales or calls of securities were recorded for the year ended December 31, 2025 nor December 31, 2024. As a result of the dissolution of the Captive during the fourth quarter of 2023, a loss totaling $44,000 on the sale of AFS treasury securities held by the Captive was recorded for the year ended December 31, 2023.

 

Securities with a carrying value of $707 million and $852 million were pledged at December 31, 2025 and 2024, respectively, to secure accounts of commercial depositors in cash management accounts, public deposits and uninsured cash balances for WM&T accounts.

 

Based on an evaluation of available information including security type, counterparty credit quality, past events, current conditions, and reasonable and supportable forecasts that are relevant to collectability, Bancorp has concluded that it expects to receive all contractual cash flows from each security held in its AFS and HTM debt securities portfolio. As such, no allowance or impairment was recorded with respect to investment securities as of December 31, 2025.

 

Unrealized and Unrecognized Loss Analysis on Debt Securities

 

Debt securities with unrealized and unrecognized losses at December 31, 2025 and December 31, 2024, aggregated by investment category and length of time securities have been in a continuous unrealized/unrecognized loss position follows:

 

   

AFS Debt Securities

  
   

Less than 12 months

    

12 months or more

    

Total

  

(in thousands)

  

Fair

    

Unrealized

    

Fair

    

Unrealized

    

Fair

    

Unrealized

  

December 31, 2025

  

value

    

losses

    

value

    

losses

    

value

    

losses

  
                                                 

Government sponsored enterprise obligations

   $ -     $ -     $ 69,880     $ (2,737 )   $ 69,880     $ (2,737 )

Mortgage backed securities

     -       -       507,041       (67,576 )     507,041       (67,576 )

Obligations of states and political subdivisions

     1,446       (4 )     91,609       (9,335 )     93,055       (9,339 )

Other

     -       -       531       (37 )     531       (37 )

Total AFS debt securities

   $ 1,446     $ (4 )   $ 669,061     $ (79,685 )   $ 670,507     $ (79,689 )
                                                 

December 31, 2024

                                                
                                                 

Government sponsored enterprise obligations

   $ 5,801     $ (49 )   $ 74,478     $ (4,798 )   $ 80,279     $ (4,847 )

Mortgage backed securities

     23,159       (579 )     567,818       (105,211 )     590,977       (105,790 )

Obligations of states and political subdivisions

     9,181       (164 )     101,407       (14,034 )     110,588       (14,198 )

Other

     -       -       2,530       (156 )     2,530       (156 )

Total AFS debt securities

   $ 38,141     $ (792 )   $ 746,233     $ (124,199 )   $ 784,374     $ (124,991 )

 

 

   

HTM Debt Securities

  
   

Less than 12 months

    

12 months or more

    

Total

  

(in thousands)

  

Fair

    

Unrecognized

    

Fair

    

Unrecognized

    

Fair

    

Unrecognized

  

December 31, 2025

  

value

    

losses

    

value

    

losses

    

value

    

losses

  
                                                 

U.S. Treasury and other U.S. Government obligations

 

   $ -     $ -     $ 1,982     $ (12 )   $ 1,982     $ (12 )

Government sponsored enterprise obligations

     -       -       21,649       (1,112 )     21,649       (1,112 )

Mortgage backed securities

     -       -       156,877       (16,624 )     156,877       (16,624 )

Total HTM debt securities

   $ -     $ -     $ 180,508     $ (17,748 )   $ 180,508     $ (17,748 )
                                                 

December 31, 2024

                                                
                                                 

U.S. Treasury and other U.S. Government obligations

   $ -     $ -     $ 153,109     $ (741 )   $ 153,109     $ (741 )

Government sponsored enterprise obligations

     396       (6 )     22,965       (2,028 )     23,361       (2,034 )

Mortgage backed securities

     -       -       164,724       (26,041 )     164,724       (26,041 )

Total HTM debt securities

   $ 396     $ (6 )   $ 340,798     $ (28,810 )   $ 341,194     $ (28,816 )

 

Applicable dates for determining when securities are in an unrealized loss position are December 31, 2025 and 2024, respectively. As such, it is possible that a security had a market value lower than its amortized cost on other days during the past 12 months, but is not in the “Less than 12 months” category in the preceding table.

 

In evaluating debt securities in unrealized and unrecognized loss positions for impairment and the criteria regarding its intent or requirement to sell such securities, Bancorp considers the extent to which fair value is less than amortized cost, whether the securities are issued by the federal government or its agencies, whether downgrades by bond rating agencies have occurred, and the results of reviews of the issuers’ financial condition, among other factors. Unrealized and unrecognized losses on Bancorp’s investment securities portfolio have not been recognized as an expense because the securities are of high credit quality, and the decline in fair values is attributable to changes in the prevailing interest rate environment since the purchase date. Fair value is expected to recover as securities reach maturity and/or the interest rate environment returns to conditions similar to when these securities were purchased. These investments consisted of 402 and 488 separate investment positions as of December 31, 2025 and December 31, 2024, respectively.

 
v3.25.4
Note 4 - Loans and ACL on Loans
 12 Months Ended
Dec. 31, 2025
Notes to Financial Statements  
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]

(4) Loans and ACL for Loans

 

Composition of loans by class follows:

 

December 31, (in thousands)

  

2025

    

2024

  
                 

Commercial real estate - non-owner occupied

   $ 1,915,252     $ 1,835,935  

Commercial real estate - owner occupied

     1,121,896       1,002,853  

Total commercial real estate

     3,037,148       2,838,788  
                 

Commercial and industrial - term

     897,576       884,399  

Commercial and industrial - lines of credit

     611,913       554,255  

Total commercial and industrial

     1,509,489       1,438,654  
                 

Residential real estate - owner occupied

     881,865       805,080  

Residential real estate - non-owner occupied

     391,216       382,744  

Total residential real estate

     1,273,081       1,187,824  
                 

Construction and land development

     751,897       623,005  

Home equity lines of credit

     285,115       247,433  

Consumer

     142,425       144,644  

Leases

     16,912       15,514  

Credit cards

     25,243       24,540  

Total loans (1)

   $ 7,041,310     $ 6,520,402  

 

(1) Total loans are presented inclusive of premiums, discounts and net loan origination fees and costs. 

 

 

Fees and costs of originating loans are deferred at origination and amortized over the life of the loan. At both December 31, 2025 and 2024, net deferred loan origination fees exceeded deferred loan origination costs, resulting in a net reduction of loan balances totaling $3 million.

 

Bancorp’s credit exposure is diversified with secured and unsecured loans to individuals and businesses. No specific industry concentration exceeds 10% of loans outstanding. While Bancorp has a diversified loan portfolio, a customer’s ability to honor contracts is somewhat dependent upon the economic stability and/or industry in which that customer does business. Loans outstanding and related unfunded commitments are primarily concentrated within Bancorp’s current market areas, which encompass Louisville, central, eastern and northern Kentucky, as well as the Indianapolis, Indiana and Cincinnati, Ohio metropolitan markets.

 

Bancorp occasionally enters into loan participation agreements with other banks in the ordinary course of business to diversify credit risk. For certain sold participation loans, Bancorp has retained effective control of the loans, typically by restricting the participating institutions from pledging or selling their share of the loan without permission from Bancorp. The participated portion of these loans are recorded as secured borrowings. The participated portions of these loans are included in the C&I totals above with a corresponding liability reflected in other liabilities. At both December 31, 2025 and 2024, the total participated portions of loans of this nature totaled $2 million.

 

Accrued interest on loans, which is excluded from the amortized cost of loans, totaled $25 million and $23 million at December 31, 2025 and 2024, respectively, and was included in the consolidated balance sheets.

 

Loans with carrying amounts of $3.78 billion and $3.48 billion were pledged to secure FHLB borrowing capacity at December 31, 2025 and December 31, 2024, respectively.

 

In the ordinary course of business, Bancorp has granted loans to certain related interests, including directors, executive officers and their affiliates (collectively referred to as “related parties”). Such loans are made on substantially the same terms as those for comparable transactions and at interest rates prevailing at the time of the transactions, and do not present other unfavorable features.

 

Loans to directors and their related interests, including loans to companies for which directors are principal owners and executive officers are presented in the following table:

 

Years ended December 31, (in thousands)

  

2025

     2024  

Balance at beginning of period

   $ 97,103     $ 62,412  

Effect of change in composition of related interests

     16,484       22,111  

New term loans

     -       16,255  

Repayment of term loans

     (8,541 )     (10,612 )

Changes in balances of revolving lines of credit

     (1,384 )     6,937  

Balance at end of period

   $ 103,662     $ 97,103  

 

ACL for Loans

 

Fluctuations in the ACL for loans during the year ended December 31, 2025 were the result of loan growth, changes in the forecasted unemployment forecast, a decrease in specific reserves and annual CECL model updates in addition to net charge offs. The table below reflects activity in the ACL related to loans:

 

(in thousands)

Year ended December 31, 2025

   Beginning

Balance

    

Provision for

Credit Losses

on Loans

    

Charge-offs

    

Recoveries

    

Ending

Balance

  
                                         

Commercial real estate - non-owner occupied

   $ 13,935     $ (181 )   $ -     $ 25     $ 13,779  

Commercial real estate - owner occupied

     10,192       3,028       (137 )     17       13,100  

Total commercial real estate

     24,127       2,847       (137 )     42       26,879  
                                         

Commercial and industrial - term

     21,284       (1,173 )     (738 )     1,748       21,121  

Commercial and industrial - lines of credit

     6,496       1,114       (287 )     -       7,323  

Total commercial and industrial

     27,780       (59 )     (1,025 )     1,748       28,444  
                                         

Residential real estate - owner occupied

     14,468       682       (308 )     72       14,914  

Residential real estate - non-owner occupied

     5,154       (713 )     (156 )     2       4,287  

Total residential real estate

     19,622       (31 )     (464 )     74       19,201  
                                         

Construction and land development

     10,981       1,335       -       -       12,316  

Home equity lines of credit

     1,277       171       (10 )     1       1,439  

Consumer

     2,531       1,007       (1,103 )     489       2,924  

Leases

     370       154       -       -       524  

Credit cards

     255       126       (303 )     62       140  

Total

   $ 86,943     $ 5,550     $ (3,042 )   $ 2,416     $ 91,867  

 

(in thousands)

Year ended December 31, 2024

  

Beginning

Balance

    

Provision for

Credit Losses

on Loans

    

Charge-offs

    

Recoveries

    

Ending

Balance

  
                                         

Commercial real estate - non-owner occupied

   $ 22,133     $ (8,217 )   $ -     $ 19     $ 13,935  

Commercial real estate - owner occupied

     11,667       (1,568 )     -       93       10,192  

Total commercial real estate

     33,800       (9,785 )     -       112       24,127  
                                         

Commercial and industrial - term

     14,359       7,264       (748 )     409       21,284  

Commercial and industrial - lines of credit

     6,495       90       (555 )     466       6,496  

Total commercial and industrial

     20,854       7,354       (1,303 )     875       27,780  
                                         

Residential real estate - owner occupied

     9,316       5,481       (356 )     27       14,468  

Residential real estate - non-owner occupied

     4,282       865       -       7       5,154  

Total residential real estate

     13,598       6,346       (356 )     34       19,622  
                                         

Construction and land development

     7,593       3,388       -       -       10,981  

Home equity lines of credit

     1,660       (283 )     (107 )     7       1,277  

Consumer

     1,407       1,424       (785 )     485       2,531  

Leases

     220       150       -       -       370  

Credit cards

     242       206       (225 )     32       255  

Total

   $ 79,374     $ 8,800     $ (2,776 )   $ 1,545     $ 86,943  

 

 

(in thousands)

Year ended December 31, 2023

   Beginning

Balance

    

Provision for

Credit Losses

on Loans

    

Charge-offs

    

Recoveries

    

Ending

Balance

  
                                         

Commercial real estate - non-owner occupied

   $ 22,641     $ (599 )   $ -     $ 91     $ 22,133  

Commercial real estate - owner occupied

     10,827       831       -       9       11,667  

Total commercial real estate

     33,468       232       -       100       33,800  
                                         

Commercial and industrial - term

     12,991       3,607       (2,298 )     59       14,359  

Commercial and industrial - lines of credit

     6,389       3,582       (3,633 )     157       6,495  

Total commercial and industrial

     19,380       7,189       (5,931 )     216       20,854  
                                         

Residential real estate - owner occupied

     6,717       2,597       (43 )     45       9,316  

Residential real estate - non-owner occupied

     3,597       683       -       2       4,282  

Total residential real estate

     10,314       3,280       (43 )     47       13,598  
                                         

Construction and land development

     7,186       407       -       -       7,593  

Home equity lines of credit

     1,613       59       (12 )     -       1,660  

Consumer

     1,158       628       (865 )     486       1,407  

Leases

     201       19       -       -       220  

Credit cards

     211       657       (661 )     35       242  

Total

   $ 73,531     $ 12,471     $ (7,512 )   $ 884     $ 79,374  

 

The following tables present the amortized cost basis of non-performing loans and the amortized cost basis of loans on non-accrual status for which there was no related ACL losses:

 

   

Non-accrual Loans

            

Past Due 90-Days-

  

(in thousands)

  

With No

   

Total

    

or-More and Still

  

December 31, 2025

  

Recorded ACL

    

Non-accrual

    

Accruing Interest

  
                         

Commercial real estate - non-owner occupied

   $ -     $ 283     $ 72  

Commercial real estate - owner occupied

     —       2,449       219  

Total commercial real estate

     —       2,732       291  
                         

Commercial and industrial - term

     348       819       —  

Commercial and industrial - lines of credit

     —       182       —  

Total commercial and industrial

     348       1,001       —  
                         

Residential real estate - owner occupied

     400       7,349       158  

Residential real estate - non-owner occupied

     324       1,173       —  

Total residential real estate

     724       8,522       158  
                         

Construction and land development

     —       —       —  

Home equity lines of credit

     —       —       —  

Consumer

     20       278       —  

Leases

     —       —       —  

Credit cards

     —       52       —  

Total

   $ 1,092     $ 12,585     $ 449  

 

 

   

Non-accrual Loans

            

Past Due 90-Days-

  

(in thousands)

  

With No

   

Total

    

or-More and Still

  

December 31, 2024

  

Recorded ACL

    

Non-accrual

    

Accruing Interest

  
                         

Commercial real estate - non-owner occupied

   $ 4,409     $ 5,221     $ —  

Commercial real estate - owner occupied

     434       1,231       73  

Total commercial real estate

     4,843       6,452       73  
                         

Commercial and industrial - term

     3,828       4,903       95  

Commercial and industrial - lines of credit

     —       —       19  

Total commercial and industrial

     3,828       4,903       114  
                         

Residential real estate - owner occupied

     371       7,168       —  

Residential real estate - non-owner occupied

     —       2,451       39  

Total residential real estate

     371       9,619       39  
                         

Construction and land development

     —       311       —  

Home equity lines of credit

     —       70       91  

Consumer

     —       372       —  

Leases

     —       —       —  

Credit cards

     —       —       170  

Total

   $ 9,042     $ 21,727     $ 487  

 

For the years ended December 31, 2025 and 2024, the amount of accrued interest income previously recorded as revenue and subsequently reversed due to the change in accrual status was nominal.

 

For the years ended December 31, 2025 and 2024, no interest income was recognized on loans on non-accrual status.

 

The following table presents the amortized cost basis and ACL allocated for collateral dependent loans, which are individually evaluated to determine expected credit losses:

 

(in thousands)

December 31, 2025

  

Real Estate

    

Accounts

Receivable /

Equipment

    

Other

    

Total

    

ACL

Allocation

  
                                         

Commercial real estate - non-owner occupied

   $ 6,809     $ -     $ -     $ 6,809     $ 887  

Commercial real estate - owner occupied

     4,302       -       -       4,302       755  

Total commercial real estate

     11,111       -       -       11,111       1,642  
                                         

Commercial and industrial - term

     877       97       46       1,020       405  

Commercial and industrial - lines of credit

     289       -       382       671       306  

Total commercial and industrial

     1,166       97       428       1,691       711  
                                         

Residential real estate - owner occupied

     6,376       -       -       6,376       1,464  

Residential real estate - non-owner occupied

     1,608       -       -       1,608       470  

Total residential real estate

     7,984       -       -       7,984       1,934  
                                         

Construction and land development

     -       -       -       -       -  

Home equity lines of credit

     -       -       -       -       -  

Consumer

     -       -       272       272       -  

Leases

     -       -       -       -       -  

Credit cards

     -       -       -       -       -  

Total collateral dependent loans

   $ 20,261     $ 97     $ 700     $ 21,058     $ 4,287  

 

 

(in thousands)

December 31, 2024

  

Real Estate

    

Accounts

Receivable /

Equipment

    

Other

    

Total

    

ACL

Allocation

  
                                         

Commercial real estate - non-owner occupied

   $ 11,699     $ -     $ -     $ 11,699     $ 1,075  

Commercial real estate - owner occupied

     3,547       -       -       3,547       764  

Total commercial real estate

     15,246       -       -       15,246       1,839  
                                         

Commercial and industrial - term

     740       4,062       76       4,878       516  

Commercial and industrial - lines of credit

     349       200       -       549       139  

Total commercial and industrial

     1,089       4,262       76       5,427       655  
                                         

Residential real estate - owner occupied

     6,514       -       -       6,514       448  

Residential real estate - non-owner occupied

     2,974       -       -       2,974       852  

Total residential real estate

     9,488       -       -       9,488       1,300  
                                         

Construction and land development

     311       -       -       311       20  

Home equity lines of credit

     70       -       -       70       -  

Consumer

     -       -       356       356       34  

Leases

     -       -       -       -       -  

Credit cards

     -       -       -       -       -  

Total collateral dependent loans

   $ 26,204     $ 4,262     $ 432     $ 30,898     $ 3,848  

 

There have been no significant changes to the types of collateral securing Bancorp’s collateral dependent loans.

 

The following tables present the aging of contractually past due loans by portfolio class:

 

(in thousands)

          

30-59 days

    

60-89 days

    

90 or more

    

Total Past

    

Total

  

December 31, 2025

  

Current

    

Past Due

    

Past Due

    

days Past Due

    

Due Loans

    

Loans

  
                                                 

Commercial real estate - non-owner occupied

   $ 1,912,951     $ 2,042     $ 151     $ 108     $ 2,301     $ 1,915,252  

Commercial real estate - owner occupied

     1,120,790       383       —       723       1,106       1,121,896  

Total commercial real estate

     3,033,741       2,425       151       831       3,407       3,037,148  
                                                 

Commercial and industrial - term

     896,911       71       84       510       665       897,576  

Commercial and industrial - lines of credit

     611,757       156       —       —       156       611,913  

Total commercial and industrial

     1,508,668       227       84       510       821       1,509,489  
                                                 

Residential real estate - owner occupied

     862,509       8,514       4,137       6,705       19,356       881,865  

Residential real estate - non-owner occupied

     390,148       103       151       814       1,068       391,216  

Total residential real estate

     1,252,657       8,617       4,288       7,519       20,424       1,273,081  
                                                 

Construction and land development

     751,897       —       —       —       -       751,897  

Home equity lines of credit

     284,707       369       39       —       408       285,115  

Consumer

     141,352       445       350       278       1,073       142,425  

Leases

     16,912       —       —       —       —       16,912  

Credit cards

     24,970       187       34       52       273       25,243  

Total

   $ 7,014,904     $ 12,270     $ 4,946     $ 9,190     $ 26,406     $ 7,041,310  

 

 

(in thousands)

          

30-59 days

    

60-89 days

    

90 or more

    

Total Past

    

Total

  

December 31, 2024

  

Current

    

Past Due

    

Past Due

    

days Past Due

    

Due Loans

    

Loans

  
                                                 

Commercial real estate - non-owner occupied

   $ 1,831,135     $ 168     $ 4,410     $ 222     $ 4,800     $ 1,835,935  

Commercial real estate - owner occupied

     1,001,351       648       715       139       1,502       1,002,853  

Total commercial real estate

     2,832,486       816       5,125       361       6,302       2,838,788  
                                                 

Commercial and industrial - term

     879,597       103       2,740       1,959       4,802       884,399  

Commercial and industrial - lines of credit

     552,655       59       1,522       19       1,600       554,255  

Total commercial and industrial

     1,432,252       162       4,262       1,978       6,402       1,438,654  
                                                 

Residential real estate - owner occupied

     789,286       7,737       3,176       4,881       15,794       805,080  

Residential real estate - non-owner occupied

     381,177       628       56       883       1,567       382,744  

Total residential real estate

     1,170,463       8,365       3,232       5,764       17,361       1,187,824  
                                                 

Construction and land development

     622,614       391       —       —       391       623,005  

Home equity lines of credit

     246,700       424       194       115       733       247,433  

Consumer

     143,796       470       69       309       848       144,644  

Leases

     15,514       —       —       —       —       15,514  

Credit cards

     24,122       220       27       171       418       24,540  

Total

   $ 6,487,947     $ 10,848     $ 12,909     $ 8,698     $ 32,455     $ 6,520,402  

 

Loan Risk Ratings

 

Consistent with regulatory guidance, Bancorp categorizes loans into credit risk rating categories based on relevant information about the ability of borrowers to service their debt such as current financial information, historical payment experience, credit documentation, public information and current economic trends. Pass-rated loans include all risk-rated loans other than those classified as OAEM, substandard, and doubtful, which are defined below:

 

OAEM – Loans classified as OAEM have potential weaknesses requiring management's heightened attention. These potential weaknesses may result in deterioration of repayment prospects for the loan or of Bancorp's credit position at some future date.

 

Substandard – Loans classified as substandard are inadequately protected by the paying capacity of the obligor or of collateral pledged, if any. Loans so classified have well-defined weaknesses that jeopardize ultimate repayment of the debt. Default is a distinct possibility if the deficiencies are not corrected.

 

Substandard non-performing – Loans classified as substandard non-performing have all the characteristics of substandard loans and have been placed on non-accrual status. Loans are usually placed on non-accrual status when prospects for recovering both principal and accrued interest are considered doubtful or when a default of principal or interest has existed for 90 days or more.

 

Doubtful – Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or repayment in full, on the basis of currently existing facts, conditions and values, highly questionable and improbable. A loan is typically charged off once it is classified as doubtful.

 

Management considers the guidance in ASC 310-20 when determining whether a modification, extension, or renewal of loan constitutes a current period origination. Current period renewals of credit are re-underwritten at the point of renewal and considered current period originations for purposes of the table below. Bancorp has elected not to disclose revolving loans that have converted to term loans, as activity relating to this disclosure, which is included in the tables is currently immaterial to Bancorp’s loan portfolio and is expected to be in the future.

 

As of December 31, 2025, the risk rating of loans based on year of origination was as follows:

 

                                                   

Revolving

         
                                                    loans          

(in thousands)

  

Term Loans Amortized Cost Basis by Origination Year

     amortized          

December 31, 2025

  

2025

    

2024

    

2023

    

2022

    

2021

    

Prior

     cost basis    

Total

  
                                                                 

Commercial real estate - non-owner occupied:

                                                                

Risk rating

                                                                

Pass

   $ 473,903     $ 308,918     $ 322,311     $ 304,074     $ 234,941     $ 198,207     $ 21,473     $ 1,863,827  

OAEM

     16,521       2,271       11,620       2,240       7,638       5,945       -       46,235  

Substandard

     138       -       1,219       595       2,747       208       -       4,907  

Substandard non-performing

     -       151       -       -       -       132       -       283  

Doubtful

     -       -       -       -       -       -       -       -  

Total Commercial real estate non-owner occupied

   $ 490,562     $ 311,340     $ 335,150     $ 306,909     $ 245,326     $ 204,492     $ 21,473     $ 1,915,252  

Current period gross charge offs

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

Commercial real estate - owner occupied:

                                                                

Risk rating

                                                                

Pass

   $ 206,283     $ 143,496     $ 173,577     $ 165,211     $ 167,487     $ 210,266     $ 16,784     $ 1,083,104  

OAEM

     1,613       4,308       1,774       4,632       1,264       5,225       -       18,816  

Substandard

     5,279       2,156       3,896       3,140       2,861       195       -       17,527  

Substandard non-performing

     1,184       240       -       158       714       153       -       2,449  

Doubtful

     -       -       -       -       -       -       -       -  

Total Commercial real estate owner occupied

   $ 214,359     $ 150,200     $ 179,247     $ 173,141     $ 172,326     $ 215,839     $ 16,784     $ 1,121,896  

Current period gross charge offs

   $ -     $ (99 )   $ -     $ (38 )   $ -     $ -     $ -     $ (137 )
                                                                 

Commercial and industrial - term:

                                                                

Risk rating

                                                                

Pass

   $ 264,366     $ 239,708     $ 129,940     $ 127,077     $ 84,782     $ 38,764     $ -     $ 884,637  

OAEM

     341       7,853       392       1,020       -       -       -       9,606  

Substandard

     -       -       82       1,162       1,238       32       -       2,514  

Substandard non-performing

     198       15       46       9       -       551       -       819  

Doubtful

     -       -       -       -       -       -       -       -  

Total Commercial and industrial - term

   $ 264,905     $ 247,576     $ 130,460     $ 129,268     $ 86,020     $ 39,347     $ -     $ 897,576  

Current period gross charge offs

   $ -     $ (350 )   $ (328 )   $ (56 )   $ (4 )   $ -     $ -     $ (738 )
                                                                 

Commercial and industrial - lines of credit

                                                                

Risk rating

                                                                

Pass

   $ 62,731     $ 77,599     $ 5,292     $ 586     $ 1,852     $ 1,905     $ 425,487     $ 575,452  

OAEM

     485       2,258       -       -       -       -       13,955       16,698  

Substandard

     -       -       -       -       -       -       19,581       19,581  

Substandard non-performing

     182       -       -       -       -       -       -       182  

Doubtful

     -       -       -       -       -       -       -       -  

Total Commercial and industrial - lines of credit

   $ 63,398     $ 79,857     $ 5,292     $ 586     $ 1,852     $ 1,905     $ 459,023     $ 611,913  

Current period gross charge offs

   $ -     $ -     $ -     $ -     $ -     $ -     $ (287 )   $ (287 )

 

                                                    Revolving          
                                                    loans          

(in thousands)

  

Term Loans Amortized Cost Basis by Origination Year

     amortized          

December 31, 2025

  

2025

    

2024

    

2023

    

2022

    

2021

    

Prior

     cost basis    

Total

  
                                                                 

Residential real estate - owner occupied

                                                                

Risk rating

                                                                

Pass

   $ 166,712     $ 147,066     $ 136,367     $ 152,065     $ 140,120     $ 131,827     $ -     $ 874,157  

OAEM

     151       -       -       -       77       -       -       228  

Substandard

     -       -       -       10       -       121       -       131  

Substandard non-performing

     602       1,459       2,676       1,956       -       656       -       7,349  

Doubtful

     -       -       -       -       -       -       -       -  

Total Residential real estate - owner occupied

   $ 167,465     $ 148,525     $ 139,043     $ 154,031     $ 140,197     $ 132,604     $ -     $ 881,865  

Current period gross charge offs

   $ (25 )   $ -     $ (252 )   $ -     $ (26 )   $ (5 )   $ -     $ (308 )
                                                                 

Residential real estate - non-owner occupied

                                                                

Risk rating

                                                                

Pass

   $ 79,805     $ 66,030     $ 54,464     $ 64,198     $ 61,721     $ 63,348     $ -     $ 389,566  

OAEM

     -       -       -       -       -       163       -       163  

Substandard

     -       -       208       -       -       106       -       314  

Substandard non-performing

     -       -       878       159       -       136       -       1,173  

Doubtful

     -       -       -       -       -       -       -       -  

Total Residential real estate - non-owner occupied

   $ 79,805     $ 66,030     $ 55,550     $ 64,357     $ 61,721     $ 63,753     $ -     $ 391,216  

Current period gross charge offs

   $ -     $ (150 )   $ (3 )   $ -     $ -     $ (3 )   $ -     $ (156 )
                                                                 

Construction and land development

                                                                

Risk rating

                                                                

Pass

   $ 253,687     $ 254,341     $ 182,016     $ 44,909     $ 3,095     $ 1,687     $ 12,162     $ 751,897  

OAEM

     -       -       -       -       -       -       -       -  

Substandard

     -       -       -       -       -       -       -       -  

Substandard non-performing

     -       -       -       -       -       -       -       -  

Doubtful

     -       -       -       -       -       -       -       -  

Total Construction and land development

   $ 253,687     $ 254,341     $ 182,016     $ 44,909     $ 3,095     $ 1,687     $ 12,162     $ 751,897  

Current period gross charge offs

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

Home equity lines of credit

                                                                

Risk rating

                                                                

Pass

   $ -     $ -     $ -     $ -     $ -     $ -     $ 284,064     $ 284,064  

OAEM

     -       -       -       -       -       -       -       -  

Substandard

     -       -       -       -       -       -       1,051       1,051  

Substandard non-performing

     -       -       -       -       -       -       -       -  

Doubtful

     -       -       -       -       -       -       -       -  

Total Home equity lines of credit

   $ -     $ -     $ -     $ -     $ -     $ -     $ 285,115     $ 285,115  

Current period gross charge offs

   $ -     $ -     $ -     $ -     $ -     $ -     $ (10 )   $ (10 )
                                                                 

Consumer

                                                                

Risk rating

                                                                

Pass

   $ 27,560     $ 13,948     $ 9,927     $ 8,561     $ 3,838     $ 650     $ 77,663     $ 142,147  

OAEM

     -       -       -       -       -       -       -       -  

Substandard

     -       -       -       -       -       -       -       -  

Substandard non-performing

     21       126       110       12       -       9       -       278  

Doubtful

     -       -       -       -       -       -       -       -  

Total Consumer

   $ 27,581     $ 14,074     $ 10,037     $ 8,573     $ 3,838     $ 659     $ 77,663     $ 142,425  

Current period gross charge offs

   $ (857 )   $ (72 )   $ (97 )   $ (36 )   $ (5 )   $ (36 )   $ -     $ (1,103 )

 

                                                    Revolving          
                                                    loans          

(in thousands)

  

Term Loans Amortized Cost Basis by Origination Year

     amortized          

December 31, 2025

  

2025

    

2024

    

2023

    

2022

    

2021

    

Prior

     cost basis    

Total

  
                                                                 

Leases

                                                                

Risk rating

                                                                

Pass

   $ 6,848     $ 3,880     $ 3,831     $ 1,014     $ 836     $ 137     $ -     $ 16,546  

OAEM

     -       -       -       -       -       -       -       -  

Substandard

     -       -       -       366       -       -       -       366  

Substandard non-performing

     -       -       -       -       -       -       -       -  

Doubtful

     -       -       -       -       -       -       -       -  

Total Leases

   $ 6,848     $ 3,880     $ 3,831     $ 1,380     $ 836     $ 137     $ -     $ 16,912  

Current period gross charge offs

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

Credit cards

                                                                

Risk rating

                                                                

Pass

   $ -     $ -     $ -     $ -     $ -     $ -     $ 25,191     $ 25,191  

OAEM

     -       -       -       -       -       -       -       -  

Substandard

     -       -       -       -       -       -       -       -  

Substandard non-performing

     -       -       -       -       -       -       52       52  

Doubtful

     -       -       -       -       -       -       -       -  

Total Credit cards

   $ -     $ -     $ -     $ -     $ -     $ -     $ 25,243     $ 25,243  

Current period gross charge offs

   $ -     $ -     $ -     $ -     $ -     $ -     $ (303 )   $ (303 )
                                                                 

Total loans

                                                                

Risk rating

                                                                

Pass

   $ 1,541,895     $ 1,254,986     $ 1,017,725     $ 867,695     $ 698,672     $ 646,791     $ 862,824     $ 6,890,588  

OAEM

     19,111       16,690       13,786       7,892       8,979       11,333       13,955       91,746  

Substandard

     5,417       2,156       5,405       5,273       6,846       662       20,632       46,391  

Substandard non-performing

     2,187       1,991       3,710       2,294       714       1,637       52       12,585  

Doubtful

     -       -       -       -       -       -       -       -  

Total Loans

   $ 1,568,610     $ 1,275,823     $ 1,040,626     $ 883,154     $ 715,211     $ 660,423     $ 897,463     $ 7,041,310  

Current period gross charge offs

   $ (882 )   $ (671 )   $ (680 )   $ (130 )   $ (35 )   $ (44 )   $ (600 )   $ (3,042 )

 

As of December 31, 2024, the risk rating of loans based on year of origination was as follows:

 

                                                   

Revolving

         
                                                    loans          

(in thousands)

  

Term Loans Amortized Cost Basis by Origination Year

     amortized          

December 31, 2024

  

2024

    

2023

    

2022

    

2021

    

2020

    

Prior

     cost basis    

Total

  
                                                                 

Commercial real estate - non-owner occupied:

                                                                

Risk rating

                                                                

Pass

   $ 416,310     $ 293,890     $ 402,081     $ 291,741     $ 199,039     $ 157,303     $ 28,584     $ 1,788,948  

OAEM

     10,480       1,533       -       10,709       1,664       13,191       -       37,577  

Substandard

     1,546       -       2,320       -       -       225       98       4,189  

Substandard non-performing

     269       -       -       -       -       4,952       -       5,221  

Doubtful

     -       -       -       -       -       -       -       -  

Total Commercial real estate non-owner occupied

   $ 428,605     $ 295,423     $ 404,401     $ 302,450     $ 200,703     $ 175,671     $ 28,682     $ 1,835,935  

Current period gross charge offs

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

Commercial real estate - owner occupied:

                                                                

Risk rating

                                                                

Pass

   $ 133,404     $ 163,452     $ 172,933     $ 174,638     $ 156,955     $ 139,919     $ 22,012     $ 963,313  

OAEM

     6,292       273       1,145       1,856       715       3,385       -       13,666  

Substandard

     7,192       9,923       3,656       3,643       -       229       -       24,643  

Substandard non-performing

     434       -       -       731       66       -       -       1,231  

Doubtful

     -       -       -       -       -       -       -       -  

Total Commercial real estate owner occupied

   $ 147,322     $ 173,648     $ 177,734     $ 180,868     $ 157,736     $ 143,533     $ 22,012     $ 1,002,853  

Current period gross charge offs

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

Commercial and industrial - term:

                                                                

Risk rating

                                                                

Pass

   $ 312,854     $ 173,383     $ 198,754     $ 120,056     $ 34,013     $ 30,903     $ -     $ 869,963  

OAEM

     2,679       1,813       833       104       28       -       -       5,457  

Substandard

     496       311       -       3,036       10       223       -       4,076  

Substandard non-performing

     3,822       349       343       -       302       87       -       4,903  

Doubtful

     -       -       -       -       -       -       -       -  

Total Commercial and industrial - term

   $ 319,851     $ 175,856     $ 199,930     $ 123,196     $ 34,353     $ 31,213     $ -     $ 884,399  

Current period gross charge offs

   $ (414 )   $ (250 )   $ (6 )   $ (78 )   $ -     $ -     $ -     $ (748 )
                                                                 

Commercial and industrial - lines of credit

                                                                

Risk rating

                                                                

Pass

   $ 119,206     $ 11,181     $ 3,967     $ 2,553     $ 295     $ 2,654     $ 372,866     $ 512,722  

OAEM

     7,448       -       -       -       -       -       10,750       18,198  

Substandard

     -       -       -       -       -       -       23,335       23,335  

Substandard non-performing

     -       -       -       -       -       -       -       -  

Doubtful

     -       -       -       -       -       -       -       -  

Total Commercial and industrial - lines of credit

   $ 126,654     $ 11,181     $ 3,967     $ 2,553     $ 295     $ 2,654     $ 406,951     $ 554,255  

Current period gross charge offs

   $ -     $ -     $ (555 )   $ -     $ -     $ -     $ -     $ (555 )

 

                                                    Revolving          
                                                    loans          

(in thousands)

  

Term Loans Amortized Cost Basis by Origination Year

     amortized          

December 31, 2024

  

2024

    

2023

    

2022

    

2021

    

2020

    

Prior

     cost basis    

Total

  
                                                                 

Residential real estate - owner occupied

                                                                

Risk rating

                                                                

Pass

   $ 161,257     $ 154,799     $ 166,127     $ 159,449     $ 77,516     $ 78,169     $ -     $ 797,317  

OAEM

     158       -       -       83       -       -       -       241  

Substandard

     -       -       12       -       -       342       -       354  

Substandard non-performing

     1,028       3,737       1,400       320       9       674       -       7,168  

Doubtful

     -       -       -       -       -       -       -       -  

Total Residential real estate - owner occupied

   $ 162,443     $ 158,536     $ 167,539     $ 159,852     $ 77,525     $ 79,185     $ -     $ 805,080  

Current period gross charge offs

   $ -     $ (349 )   $ -     $ -     $ -     $ (7 )   $ -     $ (356 )
                                                                 

Residential real estate - non-owner occupied

                                                                

Risk rating

                                                                

Pass

   $ 80,717     $ 66,330     $ 72,580     $ 70,585     $ 41,874     $ 47,578     $ -     $ 379,664  

OAEM

     -       -       -       -       -       514       -       514  

Substandard

     -       -       -       -       -       115       -       115  

Substandard non-performing

     739       1,332       214       17       -       149       -       2,451  

Doubtful

     -       -       -       -       -       -       -       -  

Total Residential real estate - non-owner occupied

   $ 81,456     $ 67,662     $ 72,794     $ 70,602     $ 41,874     $ 48,356     $ -     $ 382,744  

Current period gross charge offs

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

Construction and land development

                                                                

Risk rating

                                                                

Pass

   $ 237,785     $ 234,782     $ 115,429     $ 8,381     $ 1,273     $ 3,569     $ 15,420     $ 616,639  

OAEM

     3,680       1,376       -       -       -       -       -       5,056  

Substandard

     -       -       -       -       -       -       999       999  

Substandard non-performing

     311       -       -       -       -       -       -       311  

Doubtful

     -       -       -       -       -       -       -       -  

Total Construction and land development

   $ 241,776     $ 236,158     $ 115,429     $ 8,381     $ 1,273     $ 3,569     $ 16,419     $ 623,005  

Current period gross charge offs

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

Home equity lines of credit

                                                                

Risk rating

                                                                

Pass

   $ -     $ -     $ -     $ -     $ -     $ -     $ 246,336     $ 246,336  

OAEM

     -       -       -       -       -       -       -       -  

Substandard

     -       -       -       -       -       -       1,027       1,027  

Substandard non-performing

     -       -       -       -       -       -       70       70  

Doubtful

     -       -       -       -       -       -       -       -  

Total Home equity lines of credit

   $ -     $ -     $ -     $ -     $ -     $ -     $ 247,433     $ 247,433  

Current period gross charge offs

   $ -     $ -     $ -     $ -     $ -     $ -     $ (107 )   $ (107 )
                                                                 

Consumer

                                                                

Risk rating

                                                                

Pass

   $ 22,895     $ 18,200     $ 12,822     $ 6,294     $ 1,095     $ 1,023     $ 81,943     $ 144,272  

OAEM

     -       -       -       -       -       -       -       -  

Substandard

     -       -       -       -       -       -       -       -  

Substandard non-performing

     135       113       66       13       17       28       -       372  

Doubtful

     -       -       -       -       -       -       -       -  

Total Consumer

   $ 23,030     $ 18,313     $ 12,888     $ 6,307     $ 1,112     $ 1,051     $ 81,943     $ 144,644  

Current period gross charge offs

   $ (640 )   $ (19 )   $ (12 )   $ (41 )   $ (9 )   $ (45 )   $ (19 )   $ (785 )

 

 

                                                  

Revolving

         
                                                    loans          

(in thousands)

  

Term Loans Amortized Cost Basis by Origination Year

     amortized          

December 31, 2024

  

2024

    

2023

    

2022

    

2021

    

2020

    

Prior

     cost basis    

Total

  
                                                                 

Leases

                                                                

Risk rating

                                                                

Pass

   $ 4,935     $ 5,439     $ 1,864     $ 1,462     $ 597     $ 3     $ -     $ 14,300  

OAEM

     -       -       -       -       -       -       -       -  

Substandard

     31       -       586       536       61       -       -       1,214  

Substandard non-performing

     -       -       -       -       -       -       -       -  

Doubtful

     -       -       -       -       -       -       -       -  

Total Leases

   $ 4,966     $ 5,439     $ 2,450     $ 1,998     $ 658     $ 3     $ -     $ 15,514  

Current period gross charge offs

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

Credit cards

                                                                

Risk rating

                                                                

Pass

   $ -     $ -     $ -     $ -     $ -     $ -     $ 24,540     $ 24,540  

OAEM

     -       -       -       -       -       -       -       -  

Substandard

     -       -       -       -       -       -       -       -  

Substandard non-performing

     -       -       -       -       -       -       -       -  

Doubtful

     -       -       -       -       -       -       -       -  

Total Credit cards

   $ -     $ -     $ -     $ -     $ -     $ -     $ 24,540     $ 24,540  

Current period gross charge offs

   $ -     $ -     $ -     $ -     $ -     $ -     $ (225 )   $ (225 )
                                                                 

Total loans

                                                                

Risk rating

                                                                

Pass

   $ 1,489,363     $ 1,121,456     $ 1,146,557     $ 835,159     $ 512,657     $ 461,121     $ 791,701     $ 6,358,014  

OAEM

     30,737       4,995       1,978       12,752       2,407       17,090       10,750       80,709  

Substandard

     9,265       10,234       6,574       7,215       71       1,134       25,459       59,952  

Substandard non-performing

     6,738       5,531       2,023       1,081       394       5,890       70       21,727  

Doubtful

     -       -       -       -       -       -       -       -  

Total Loans

   $ 1,536,103     $ 1,142,216     $ 1,157,132     $ 856,207     $ 515,529     $ 485,235     $ 827,980     $ 6,520,402  

Current period gross charge offs

   $ (1,054 )   $ (618 )   $ (573 )   $ (119 )   $ (9 )   $ (52 )   $ (351 )   $ (2,776 )

 

For certain loan classes, such as credit cards, credit quality is evaluated based on the aging status of the loan, which was previously presented, and by payment activity. The following table presents the recorded investment in credit cards based on payment activity:

 

(in thousands)

                

December 31,

  

2025

    

2024

  
                 

Credit cards

                

Performing

   $ 25,191     $ 24,370  

Non-performing

     52       170  

Total credit cards

   $ 25,243     $ 24,540  

 

Bancorp had $1 million and $569,000, respectively, in residential real estate loans for which formal foreclosure proceedings were in process at December 31, 2025 and December 31, 2024.

 

Modifications to Borrowers Experiencing Financial Difficulty

 

During the years ended December 31, 2025 and 2024, there were no modifications made to loans for borrowers experiencing financial difficulty and there were no payment defaults of existing modified loans within 12 months following modification. Default is determined at 90 days or more past due, charge off, or foreclosure.

 
v3.25.4
Note 5 - Premises and Equipment and Premises Held for Sale
 12 Months Ended
Dec. 31, 2025
Notes to Financial Statements  
Property, Plant and Equipment Disclosure [Text Block]

(5) Premises & Equipment and Premises Held for Sale

 

A summary of premises and equipment follows:

 

December 31, (in thousands)

  

2025

    

2024

  
                 

Land

   $ 25,202     $ 22,360  

Buildings and improvements

     77,535       73,369  

Furniture and equipment

     25,924       25,358  

Construction in progress

     3,656       5,079  

Right-of-use operating lease asset

     31,241       29,695  

Total

     163,558       155,861  

Accumulated depreciation and amortization

     (44,860 )     (43,125 )

Total premises and equipment

   $ 118,698     $ 112,736  

 

Depreciation expense related to premises and equipment was $6.2 million in 2025, $6.6 million in 2024 and $7.7 million in 2023, respectively.

 

Premises and equipment are presented on the consolidated balance sheets net of related depreciation on the respective assets as well as fair value adjustments associated with purchase accounting. As of December 31, 2025, Bancorp’s branch network consists of 75 locations throughout Louisville, central, eastern and northern, Kentucky, as well as the Indianapolis, Indiana and Cincinnati, Ohio markets.

 

In addition to the premises and equipment detailed above, premises held for sale totaling $1.7 million was also recorded on Bancorp’s consolidated balance sheets as of December 31, 2025, which consists of three vacant parcels of land and one former branch location. As of December 31, 2024, premises held for sale totaled $2.3 million, the decrease during 2025 resulting from the sale of a former administrative building related to a prior acquisition.

 

Bancorp has operating leases (land and building) for various locations with terms ranging from approximately six months to 20 years, several of which include options to extend the leases in five-year increments. Options reasonably expected to be exercised are included in determination of the right-of-use asset. Bancorp elected to use a practical expedient to expense short-term lease obligations associated with leases with original terms of 12 months or less. Bancorp elected not to separate non-lease components from lease components for its operating leases. The right-of-use lease asset and operating lease liability are recorded in premises and equipment and other liabilities on the consolidated balance sheet.

 

Balance sheet, income statement, and cash flow detail regarding operating leases follows:

 

December 31, (dollars in thousands)

  

2025

    

2024

  
                 

Balance Sheet

                

Operating lease right-of-use asset

   $ 31,241     $ 29,695  

Operating lease liability

     32,971       31,194  
                 

Weighted average remaining lease term (years)

     10.2       10.8  

Weighted average discount rate

     3.65 %     3.69 %
                 

Maturities of lease liabilities:

                

2026

   $ 4,131     $ 3,955  

2027

     4,149       3,869  

2028

     4,198       3,881  

2029

     4,129       3,924  

2030

     3,974       3,794  

Greater than five years

     19,347       19,120  

Total lease payments

   $ 39,928     $ 38,543  

Less imputed interest

     (6,957 )     (7,349 )

Total

   $ 32,971     $ 31,194  

 

Years ended December 31, (in thousands)

  

2025

    

2024

    

2023

  
                         

Income Statement

                        

Components of lease expense:

                        

Operating lease cost

   $ 4,230     $ 4,241     $ 3,338  

Variable lease cost

     383       345       313  

Less sublease income

     (96 )     (102 )     (101 )

Total lease cost

   $ 4,517     $ 4,484     $ 3,550  

 

Years ended December 31, (in thousands)

  

2025

    

2024

    

2023

  
                         

Cash flow Statement

                        

Supplemental cash flow information:

                        

Operating cash flows from operating leases

   $ 4,409     $ 4,672     $ 4,063  

 

As of December 31, 2025, Bancorp had entered into one land lease agreement that had yet to commence.

 
v3.25.4
Note 6 - Goodwill
 12 Months Ended
Dec. 31, 2025
Notes to Financial Statements  
Goodwill and Intangible Assets Disclosure [Text Block]

(6) Goodwill

 

As of December 31, 2025 and 2024, goodwill totaled $194 million, of which $172 million was allocated to the commercial banking segment and $22 million was allocated to the WM&T segment.

 

Goodwill, as recognized at the time of acquisition for each respective acquisition, is included in the table below:

 

December 31, (in thousands)

  

2025

    

2024

  

Commonwealth Bancshares (2022)

   $ 58,244     $ 58,244  

Kentucky Bancshares (2021)

     123,317       123,317  

King Southern Bancorp (2019)

     11,831       11,831  

Austin State Bank (1996)

     682       682  

Total

   $ 194,074     $ 194,074  

 

Note: The acquisition of The Bank Oldham County in 2013 resulted in a bargain purchase gain.

 

Goodwill and intangible assets with indefinite useful lives are not amortized, but instead be tested for impairment at least annually. Impairment exists when a reporting unit’s carrying value of goodwill exceeds its fair value. In 2025, Bancorp changed its annual goodwill impairment testing date from September 30 to October 1 of each year, or more often as circumstances dictate. The change was applied prospectively and was not material to the Company’s consolidated financial statements, as it did not delay, accelerate or avoid an impairment charge.

 

At September 30, 2025 and October 1, 2025, Bancorp elected to perform a qualitative assessment to determine if it was more-likely-than-not that the fair value of the reporting units exceeded their carrying value, including goodwill. The qualitative assessments indicated that it was not more-likely-than-not that the carrying value of the reporting units exceeded their fair value.

 

There were no changes to the carrying value of goodwill for the years ended December 31, 2025, 2024, nor 2023.

 
v3.25.4
Note 7 - Core Deposit and Customer List Intangible Assets
 12 Months Ended
Dec. 31, 2025
Notes to Financial Statements  
Intangible Assets Disclosure [Text Block]

(7) Core Deposit and Customer List Intangible Assets

 

Bancorp’s CDIs had a gross carrying amount of $18.7 million and accumulated amortization of $12 million, resulting in a net carrying amount of $6.7 million for the year ended December 31, 2025.

 

Changes in the net carrying amount of CDIs follows:

 

Years ended December 31, (in thousands)

  

2025

    

2024

    

2023

  
                         

Balance at beginning of period

   $ 8,978     $ 11,944     $ 14,958  

Added from acquisition

     —       —       —  

Provisional period adjustment

     —       —       —  

Amortized to expense

     (2,290 )     (2,966 )     (3,014 )

Balance at end of period

   $ 6,688     $ 8,978     $ 11,944  

 

Bancorp’s CLIs had a gross carrying amount of $11.9 million and accumulated amortization of $6.4 million, resulting in a net carrying amount of $5.5 million for the year ended December 31, 2025.

 

Changes in the carrying amount of the CLI follows:

 

Year ended December 31, (in thousands)

  

2025

    

2024

    

2023

  

Balance at beginning of period

   $ 6,840     $ 8,360     $ 10,032  

Added from acquisition

     —       —       —  

Disposition of LFA

     —       —       —  

Amortized to expense

     (1,368 )     (1,520 )     (1,672 )

Balance at end of period

   $ 5,472     $ 6,840     $ 8,360  

 

Future CDI and CLI amortization expense is estimated as follows:

 

(in thousands)

  

CDI

    

CLI

  

2026

     1,980       1,216  

2027

     1,668       1,064  

2028

     1,311       912  

2029

     888       760  

2030

     576       608  

Thereafter

     265       912  

Total future expense

   $ 6,688     $ 5,472  

 
v3.25.4
Note 8 - Other Assets
 12 Months Ended
Dec. 31, 2025
Notes to Financial Statements  
Other Assets Disclosure [Text Block]

(8) Other Assets

 

A summary of the major components of other assets follows:

 

December 31,  (in thousands)

  

2025

    

2024

  
                 

Cash surrender value of life insurance other than BOLI

   $ 22,156     $ 19,895  

Net deferred tax asset

     44,667       51,646  

Investments in tax credit partnerships

     194,643       185,424  

Derivative assets

     4,501       12,437  

Prepaid assets

     8,818       6,369  

WM&T fees receivable

     5,253       4,523  

Mortgage servicing rights

     10,189       11,333  

Other real estate owned

     190       10  

Other

     14,589       17,113  

Total other assets

   $ 305,006     $ 308,750  

 

Bancorp maintains life insurance policies other than BOLI in conjunction with its non-qualified defined benefit retirement and non-qualified compensation plans.

 

Bancorp periodically invests in certain partnerships that generate federal income tax credits. The tax benefit of these investments exceeds the amortization expense associated with them, resulting in a positive impact on net income. In addition to income tax benefits, these investments also serve as an economical means of achieving CRA goals. The investments in such partnerships are recorded in other assets on the consolidated balance sheets, while the corresponding contribution requirements are recorded in other liabilities. While contributions are made periodically over the life of the respective investments, which can be up to 10 years depending on the type of investment, the majority of contributions associated with a respective investment are made within the first few years after entering the partnership. For additional information, see the footnote titled “Income Taxes.”

 

Bancorp enters into interest rate swap transactions with borrowers who desire to hedge exposure to rising interest rates, while at the same time entering into an offsetting interest rate swap, with substantially matching terms, with another approved independent counterparty. These are undesignated derivative instruments and are recognized on the balance sheet at fair value. For additional information, see the footnote titled “Derivative Financial Instruments.”

 

For additional information related to MSRs, see the footnote titled “Mortgage Banking Activities.”

 
v3.25.4
Note 9 - Income Taxes
 12 Months Ended
Dec. 31, 2025
Notes to Financial Statements  
Income Tax Disclosure [Text Block]

(9) Income Taxes

 

Pre-tax income is entirely related to domestic activities, as Bancorp has no foreign operations.

 

Components of income tax expense from continuing operations follows:

 

Years Ended December 31, (in thousands)

  

2025

    

2024

    

2023

  

Current income tax expense:

                        

Federal

   $ 33,894     $ 27,377     $ 25,360  

State

     6,982       5,566       5,254  

Total current income tax expense

     40,876       32,943       30,614  
                         

Deferred income tax expense (benefit):

                        

Federal

     (2,396 )     (2,681 )     (977 )

State

     (434 )     (435 )     542  

Total deferred income tax expense (benefit)

     (2,830 )     (3,116 )     (435 )

Total income tax expense

   $ 38,046     $ 29,827     $ 30,179  

 

Bancorp did not have any income tax expense (benefit) in foreign jurisdictions.

 

Components of income tax (benefit) expense recorded directly to stockholders’ equity were as follows:

 

Years Ended December 31, (in thousands)

  

2025

    

2024

    

2023

  

Unrealized gain (loss) on securities available for sale

   $ 11,222     $ (359 )   $ 7,416  

Unrealized gain (loss) on derivatives

     (24 )     983       (58 )

Minimum pension liability adjustment

     (1,397 )     18       (17 )

Total income tax (benefit) expense recorded directly to stockholders' equity

   $ 9,801     $ 642     $ 7,341  

 

An analysis of the difference between statutory rates and ETRs from operations in accordance with the adoption of ASU 2023-09 follows:

 

   

2025

  

(dollars in thousands)

  

Amount

    

Percent

  

U.S. federal statutory income tax rate

   $ 37,421       21.00 %

State income taxes, net of federal benefit (1)

     5,173       2.90  

Tax credits (2):

                

Low income housing tax credits

     (2,402 )     (1.35 )

Historic rehabilitation tax credits

     (570 )     (0.32 )

Non-taxable or non-deductible items:

                

Changes in cash surrender value of life insurance

     (944 )     (0.53 )

Tax-exempt interest income

     (555 )     (0.31 )

Other:

                

Stock-based compensation

     (602 )     (0.34 )

Other

     525       0.30  

Effective tax rate

   $ 38,046       21.35 %

 

(1) State taxes in Kentucky made up the majority (greater than 50%) of the tax effect in this category.

(2) The disclosures in this category are reflected net of proportional amortization and other tax benefits.

 

An analysis of the difference between statutory and ETRs from operations prior to the adoption of ASU 2023-09 follows:

 

Years Ended December 31,

  

2024

    

2023

  

U.S. federal statutory income tax rate

     21.00 %     21.00 %

State income taxes, net of federal benefit

     2.75       3.27  

Excess tax benefits from stock-based compensation arrangements

     (0.76 )     (0.31 )

Change in cash surrender value of life insurance

     (0.61 )     (0.64 )

Tax credits

     (1.54 )     (0.54 )

Tax exempt interest income

     (0.43 )     (0.50 )

Non-deductible merger expenses

     -       -  

Insurance captive

     -       (0.20 )

Amortization of investment in tax credit partnerships

     -       0.20  

Other, net

     0.25       (0.40 )

Effective tax rate

     20.66 %     21.88 %

 

Current state income tax expense for 2025, 2024 and 2023 represents tax owed to the states of Kentucky, Indiana and Illinois. Ohio state taxes are based on capital levels and are recorded as other non-interest expense.

 

On April 10, 2023, the IRS issued a proposed regulation that would potentially classify section 831(b) captive activity as a “listed transaction,” and disallow the related tax benefits, both prospectively and retroactively. The regulation was finalized in January 2025 and its impact is being evaluated by management. Bancorp elected not to renew the insurance captive effective August 2023 and it was dissolved as of December 31, 2023.

 

Income taxes paid were as follows:

 

Years Ended December 31, (in thousands)

  

2025

  

Federal income taxes

   $ 15,855  

State and local income taxes:

        

Kentucky

     4,120  

Indiana

     1,145  

Illinois

     75  

Total income taxes paid

   $ 21,195  

 

GAAP provides guidance on financial statement recognition and measurement of tax positions taken, or expected to be taken, in tax returns. If recognized, tax benefits would reduce tax expense and accordingly, increase net income. The amount of unrecognized tax benefits may increase or decrease in the future for various reasons including adding amounts for current year tax positions, expiration of open income tax returns due to statutes of limitation, changes in management’s judgment about the level of uncertainty, status of examination, litigation and legislative activity and addition or elimination of uncertain tax positions. As of December 31, 2025 and December 31, 2024, the gross amount of unrecognized tax benefits was immaterial to Bancorp’s consolidated financial statements. Federal income tax returns are subject to examination for the years after 2021 and state income tax returns are subject to examination for the years after 2020.

 

The effects of temporary differences that gave rise to significant portions of DTAs and DTLs follows:

 

December 31, (in thousands)

  

2025

    

2024

  

Deferred tax assets:

                

Investment securities

   $ 19,149     $ 30,308  

Allowance for credit losses

     22,556       21,373  

Deferred compensation

     7,158       6,605  

Operating lease liability

     8,016       7,580  

Acquired loan fair value adjustments

     2,056       2,500  

Accrued expenses

     4,905       3,905  

Interest rate swaps

     471       -  

Write-downs and costs associated with OREO

     -       27  

Deferred PPP loan fees

     -       9  

Total deferred tax assets

     64,311       72,307  
                 

Deferred tax liabilities:

                

Right-of-use operating lease asset

     7,670       7,300  

Mortgage servicing rights

     2,502       2,786  

Core deposit intangibles

     1,435       1,975  

Customer list intangible

     1,343       1,681  

Property and equipment

     2,341       2,143  

Other liabilities

     2,249       1,897  

Investments in tax credit partnerships

     338       227  

Loan costs

     1,758       1,599  

Interest rate swaps

     -       925  

Leases

     8       128  

Total deferred tax liabilities

     19,644       20,661  

Net deferred tax asset

   $ 44,667     $ 51,646  

 

A valuation allowance is recognized for a DTA if, based on the weight of available evidence, it is more likely than not that some portion of the entire DTA will not be realized. Ultimate realization of DTAs is dependent upon generation of future taxable income during periods in which those temporary differences become deductible. Management considers scheduled reversal of DTLs, projected future taxable income and tax planning strategies in making this assessment. Based upon the level of historical taxable income and projection for future taxable income over periods which the temporary differences resulting in remaining DTAs are deductible, management believes it is more likely than not that Bancorp will realize the benefits of these deductible differences at December 31, 2025.

 

Realization of DTAs/DTLs associated with investment in tax credit partnerships is dependent upon generating sufficient taxable capital gain income prior to their expiration. No valuation allowance was recorded as of both December 31, 2025 and 2024 based on management’s estimate of the temporary deductible differences that may expire prior to their utilization.

 

Bancorp periodically invests in certain partnerships that generate federal income tax credits. The tax benefit of these investments exceeds the amortization expense associated with them, resulting in a positive impact on net income. In addition to income tax benefits, these investments also serve as an economical means of achieving CRA goals. The investments in such partnerships are recorded in other assets on the consolidated balance sheets, while the corresponding contribution requirements are recorded in other liabilities. While contributions are made periodically over the life of the respective investments, which can be up to 10 years depending on the type of investment, the majority of contributions associated with a respective investment are made within the first few years after entering the partnership.

 

Bancorp’s investments in tax credit partnerships, including the related unfunded contributions, totaled $195 million and $185 million as of December 31, 2025 and December 31, 2024, respectively, and are included in other assets on the condensed consolidated balance sheets.

 

As of December 31, 2025, Bancorp’s expected payments for unfunded contributions related to investments in tax credit partnerships, which are accrued and included in other liabilities on the consolidated balance sheets, were as follows:

 

(dollars in thousands)

  

December 31, 2025

  

2026

   $ 56,727  

2027

     35,531  

2028

     3,183  

2029

     1,510  

2030

     1,764  

Thereafter

     6,516  

Total unfunded contributions

   $ 105,231  

 

Effective January 1, 2024, Bancorp adopted ASU 2023-02, “Investments – Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method.” As a result, all of Bancorp’s investments in tax credit partnerships are now accounted for under the proportional amortization method, with related amortization expense recorded within income tax expense on the condensed consolidated income statements. Prior to 2024, Bancorp used both the effective yield and the proportional amortization methods to account for these investments, with related amortization expense recorded as a component of non-interest expenses on the condensed consolidated income statements.

 

The following table presents tax credits and other tax benefits recognized in addition to amortization expense related to Bancorp’s investment in tax credit partnerships:

 

December 31, (in thousands)

  

2025

    

2024

    

2023

  

Proportional amortization method:

                        

Tax credits and other tax benefits recognized

   $ 18,530     $ 12,390     $ 417  

Amortization expense in provision for income taxes

     13,703       9,268       3,295  

Amortization expense in other non-interest expense

     -       -       1,294  
                         

Effective yield method:

                        

Tax credits and other tax benefits recognized

   $ -     $ -     $ 1,598  

Amortization expense in provision for income taxes

     -       -       -  

Amortization expense in other non-interest expense

     -       -       -  

 

There were no impairment losses related to Bancorp’s investments in tax credit partnerships during the years ended December 31, 2025 and 2024.

 
v3.25.4
Note 10 - Deposits
 12 Months Ended
Dec. 31, 2025
Notes to Financial Statements  
Deposit Liabilities Disclosures [Text Block]

(10) Deposits

 

The composition of deposits follows:

 

December 31, (in thousands)

  

2025

    

2024

  
                 

Non-interest bearing demand deposits

   $ 1,435,846     $ 1,456,138  
                 

Interest bearing deposits:

                

Interest bearing demand

     2,886,406       2,649,142  

Savings

     420,382       419,355  

Money market

     1,311,969       1,403,978  
                 

Time deposit accounts of $250,000 or more

     567,404       365,024  

Other time deposits

     1,169,130       872,764  

Total time deposits

     1,736,534       1,237,788  
                 

Total interest bearing deposits

     6,355,291       5,710,263  

Total deposits

   $ 7,791,137     $ 7,166,401  

 

Interest expense related to time deposits in denominations of $250,000 or more was $17.5 million, $9.5 million and $5.1 million for the years ended December 31, 2025, 2024 and 2023, respectively.

 

At December 31, 2025, the scheduled maturities of all time deposits were as follows:

 

(in thousands)

        

2026

   $ 1,590,373  

2027

     131,589  

2028

     6,921  

2029

     4,649  

2030

     3,002  

Total time deposits

   $ 1,736,534  

 

Deposits of directors and their associates, including deposits of companies for which directors are principal owners, and executive officers totaled $71 million and $58 million at December 31, 2025 and 2024, respectively. Such deposits are made during the ordinary course of business, on substantially the same terms as those for comparable transactions and at interest rates prevailing at the time of the transaction, and do not present other unfavorable terms.

 

At December 31, 2025 and 2024, Bancorp had $1.6 million and $1.5 million of deposit accounts in overdraft status and thus have been reclassified to loans on the accompanying consolidated balance sheets.

 
v3.25.4
Note 11 - Securities Sold Under Agreements to Repurchase
 12 Months Ended
Dec. 31, 2025
Notes to Financial Statements  
Repurchase Agreements, Resale Agreements, Securities Borrowed, and Securities Loaned Disclosure [Text Block]

(11) Securities Sold Under Agreements to Repurchase

 

SSUAR represent a funding source of Bancorp and are used by commercial customers in conjunction with collateralized corporate cash management accounts. Such repurchase agreements are considered financing agreements and mature within one business day from the transaction date. Bancorp’s repurchase agreements are subject to underlying agreements with master netting or similar arrangements, which provide for the right of setoff in the event of default or in the event of bankruptcy of either party to the transactions. Bancorp reports its repurchase agreements to these arrangements on a gross basis. At December 31, 2025, all of these financing arrangements had overnight maturities and Bancorp pledged government-sponsored agency obligations and government-sponsored enterprise mortgage-backed securities with a fair value of $129 million as collateral for these arrangements. The lender agrees to resell substantially the same securities to Bancorp at the maturity of the repurchase agreement.

 

Information regarding SSUAR follows:

 

December 31, (dollars in thousands)

  

2025

    

2024

  

Outstanding balance at end of period

   $ 112,476     $ 162,967  

Weighted average interest rate at end of period

     1.80

%

     2.10

%

 

Years Ended December 31, (dollars in thousands)

  

2025

    

2024

    

2023

  
                         

Average outstanding balance during the period

   $ 118,987     $ 154,387     $ 123,111  

Average interest rate during the period

     2.03

%

     2.22

%

     1.70 %

Maximum outstanding at any month end during the period

   $ 151,483     $ 179,428     $ 152,991  

  
v3.25.4
Note 12 - Subordinated Debentures
 12 Months Ended
Dec. 31, 2025
Notes to Financial Statements  
Debt Disclosure [Text Block]

(12) Subordinated Debentures

 

As a result of its acquisition of Commonwealth Bancshares, Inc. on March 7, 2022, Bancorp became the 100% successor owner of the following unconsolidated trust subsidiaries: Commonwealth Statutory Trust III, Commonwealth Statutory Trust IV and Commonwealth Statutory Trust V. The sole assets of the trust subsidiaries represent the proceeds of offerings loaned in exchange for subordinated debentures with similar terms to the TPS. The TPS are treated as part of Tier I Capital. The subordinated notes and related interest expense are included in Bancorp’s consolidated financial statements. The subordinated notes are currently redeemable at Bancorp’s option on a quarterly basis. The carrying values of the subordinated notes were adjusted to fair value at acquisition date. The related discounts on the subordinated notes are amortized and recognized as a component of interest expense in Bancorp’s consolidated financial statements. Bancorp chose not to redeem the subordinated notes on January 1, 2026 and carried the notes at the costs noted below at December 31, 2025.

 

(dollars in thousands)

  

Face Value

    

Carrying

Value

  

Origination

Date

  

Maturity

Date

  

Indexed Interest

Rate
                           

Commonwealth Statutory Trust III

   $ 3,093     $ 3,093  

12/19/2003

  

1/7/2034

  

SOFR + 2.85%

Commonwealth Statutory Trust IV

     12,372       12,372  

12/15/2005

  

12/30/2035

  

SOFR + 1.35%

Commonwealth Statutory Trust V

     11,341       11,341  

6/28/2007

  

9/15/2037

  

SOFR + 1.40%

Total

   $ 26,806     $ 26,806            

 
v3.25.4
Note 13 - FHLB Advances and Other Borrowings
 12 Months Ended
Dec. 31, 2025
Notes to Financial Statements  
Federal Home Loan Bank Advances, Disclosure [Text Block]

(13) FHLB Advances and Other Borrowings

 

FHLB advances outstanding at December 31, 2025 consist of a rolling $300 million three-month advance that matures in February 2026, which Bancorp utilizes in conjunction with interest rate swaps in an effort to hedge cash flows. FHLB advances outstanding at December 31, 2024 consisted of a rolling $300 million three-month advance that matured in February 2025, which was also utilized in conjunction with the previously mentioned interest rate swaps.

 

For the year ended December 31, 2025, gross proceeds and repayments related to FHLB advances totaled $1.73 billion and $1.73 billion, respectively. Net proceeds and repayments related to FHLB advances (excluding those with maturities of 90 days or less) totaled $1.2 billion and $1.2 billion for the year ended December 31, 2025, respectively. For the year ended December 31, 2024, gross proceeds and repayments related to FHLB advances totaled $2.80 billion and $2.70 billion, respectively. Net proceeds and repayments related to FHLB advances (excluding those with maturities of 90 days or less) totaled $1 billion and $900 million for the year ended December 31, 2024, respectively.

 

Information regarding FHLB advances follows. The average interest rate information provided includes the benefit associated with the related interest rate swaps:

 

December 31, (dollars in thousands)

  

2025

    

2024

  

Outstanding balance at end of period

   $ 300,000     $ 300,000  

Weighted average interest rate at end of period

     3.85

%

     3.77

%

 

FHLB advances are collateralized by certain CRE and residential real estate mortgage loans under blanket mortgage collateral pledge agreements. Bancorp views these advances as an effective lower-costing alternative to brokered deposits to fund loan growth. At December 31, 2025 and December 31, 2024, the amount of available credit from the FHLB totaled $1.47 billion and $1.25 billion, respectively.

 

Bancorp also had $80 million in FFP lines available from correspondent banks at both December 31, 2025 and December 31, 2024, respectively. There were no outstanding balances associated with these lines as of both December 31, 2025 and December 31, 2024.

 
v3.25.4
Note 14 - Accumulated Other Comprehensive Income (Loss)
 12 Months Ended
Dec. 31, 2025
Notes to Financial Statements  
Comprehensive Income (Loss) Note [Text Block]

(14) Accumulated Other Comprehensive Income (Loss)

 

The following table illustrates activity within the balances in AOCI by component:

 

   

Net unrealized

    

Net unrealized

    

Minimum

          
   

gains (losses)

    

gains (losses)

    

pension

          
   

on AFS

    

on cash

    

liability

          

(in thousands)

  

debt securities

    

flow hedges

    

adjustment

    

Total

  
                                 

Balance, January 1, 2023

   $ (115,648 )   $ -     $ 112     $ (115,536 )

Net current period other comprehensive income (loss)

     22,970       (179 )     (53 )     22,738  

Balance, December 31, 2023

   $ (92,678 )   $ (179 )   $ 59     $ (92,798 )
                                 

Balance, January 1, 2024

   $ (92,678 )   $ (179 )   $ 59     $ (92,798 )

Net current period other comprehensive income (loss)

     (1,512 )     3,101       58       1,647  

Balance, December 31, 2024

   $ (94,190 )   $ 2,922     $ 117     $ (91,151 )
                                 

Balance, January 1, 2025

   $ (94,190 )   $ 2,922     $ 117     $ (91,151 )

Net current period other comprehensive income (loss)

     34,365       (4,415 )     (74 )     29,876  

Balance, December 31, 2025

   $ (59,825 )   $ (1,493 )   $ 43     $ (61,275 )

 
v3.25.4
Note 15 - Preferred Stock
 12 Months Ended
Dec. 31, 2025
Notes to Financial Statements  
Preferred Stock [Text Block]

(15) Preferred Stock

 

Bancorp has one class of preferred stock (no par value; 1,000,000 shares authorized); the relative rights, preferences and other terms of the class or any series within the class will be determined by the Board of Directors prior to any issuance. None of this stock has been issued to date.
v3.25.4
Note 16 - Net Income Per Share
 12 Months Ended
Dec. 31, 2025
Notes to Financial Statements  
Earnings Per Share [Text Block]

(16) Net Income per Share

 

The following table reflects net income (numerator) and average shares outstanding (denominator) for basic and diluted net income per share computations:

 

(in thousands, except per share data)

                        

Years Ended December 31,

  

2025

    

2024

    

2023

  
                         

Net income available to stockholders

   $ 140,150     $ 114,539     $ 107,748  
                         

Weighted average shares outstanding - basic

     29,363       29,288       29,212  

Dilutive shares

     144       133       131  

Weighted average shares outstanding - diluted

     29,507       29,421       29,343  
                         

Net income per share - basic

   $ 4.77     $ 3.91     $ 3.69  

Net income per share - diluted

   $ 4.75     $ 3.89     $ 3.67  

 

Certain SARs that were excluded from the EPS calculation because their impact was antidilutive follows:

 

Years Ended December 31, (shares in thousands)

  

2025

    

2024

    

2023

  

Antidilutive SARs

     31       96       94  

 
v3.25.4
Note 17 - Employee Benefit Plans
 12 Months Ended
Dec. 31, 2025
Notes to Financial Statements  
Retirement Benefits [Text Block]

(17) Employee Benefit Plans

 

Bancorp has a combined employee stock ownership and defined contribution plan. The plan is available to all employees meeting certain eligibility requirements. In general, for employees who work more than 1,000 hours per year, Bancorp matches employee contributions up to 6% of the employee’s salary and contributes an amount of Bancorp stock equal to 2% of the employee’s salary. Employer matching expenses related to contributions to the plan for 2025, 2024, and 2023 were $5.3 million, $5.1 million and $4.5 million and are recorded on the consolidated statements of income within employee benefits. Employee and employer contributions are made in accordance with the terms of the plan. As of December 31, 2025 and 2024, the KSOP held 391,000 and 405,000 shares of Bancorp stock, respectively.

 

In addition, Bancorp has non-qualified plans into which directors and certain senior officers may defer director fees or salary/incentives. Bancorp matched certain executives’ deferrals into the senior officers’ plan amounting to approximately $262,000, $323,000 and $296,000 in 2025, 2024 and 2023, respectively. At December 31, 2025 and 2024, the amounts included in other liabilities in the consolidated financial statements for this plan totaled $14 million and $12 million, respectively. The total was comprised primarily of participants’ contributions and represented the fair value of mutual fund investments directed by plan participants.

 

Bancorp sponsors an unfunded, non-qualified, defined benefit retirement plan for two retired officers and has no plans to increase the number of or the benefits to participants. All participants are fully vested based on 25 years of service. Bancorp uses a December 31 measurement date for this plan. The accumulated benefit obligation for the plan included in other liabilities in the consolidated financial statements was $2.3 million as of both December 31, 2025 and 2024, respectively. Actuarially determined pension costs are expensed and accrued over the service period and benefits are paid from Bancorp’s assets. Bancorp maintains life insurance policies, for which it is the beneficiary, for defined benefit plan participants and certain former executives. Income from these policies serves to offset costs of benefits. The liability for Bancorp’s plan met the benefit obligation as of December 31, 2025 and 2024. Net periodic benefit cost was immaterial for all periods.

 

Benefits expected to be paid in future periods follows:

 

(in thousands)

        

2026

   $ 219  

2027

     219  

2028

     219  

2029

     219  

2030

     219  

2031 and thereafter

     653  

Total future payments

   $ 1,748  

 

Expected benefits to be paid are based on the same assumptions used to measure Bancorp’s benefit obligation at December 31, 2025. There are no obligations for other post-retirement or post-employment benefits.

 
v3.25.4
Note 18 - Stock-based Compensation
 12 Months Ended
Dec. 31, 2025
Notes to Financial Statements  
Share-Based Payment Arrangement [Text Block]

(18) Stock-Based Compensation

 

At Bancorp's 2015 Annual Meeting of Shareholders, shareholders approved the 2015 Omnibus Equity Compensation Plan and authorized the shares available from the expiring 2005 plan for future awards under the 2015 plan. In 2018, shareholders approved an additional 500,000 shares for issuance under the plan. Shareholders approved an additional 1 million shares for issuance under the plan at Bancorp’s 2024 Annual Meeting of Shareholders on April 25, 2024. As of December 31, 2025, there were 1 million shares available for future awards. The 2015 Stock Incentive Plan has no defined expiration date.

 

SAR Grants – SARs granted have a vesting schedule of 20% per year and expire ten years after the grant date unless forfeited due to termination of employment.

 

Fair values of SARs are estimated at the date of grant using the Black-Scholes option pricing model, a leading formula for calculating such value. The model requires the input of assumptions, changes to which can materially affect the fair value estimate. The following assumptions were used in SAR valuations at the grant date in each year:

 

   

2025

    

2024

    

2023

  
                         

Dividend yield

     2.26 %     2.29 %     2.24 %

Expected volatility

     29.29 %     28.43 %     27.20 %

Risk free interest rate

     4.42 %     4.16 %     3.84 %

Expected life (in years)

     7.8       7.1       7.1  

 

Dividend yield and expected volatility are based on historical information for Bancorp corresponding to the expected life of SARs granted. Expected volatility is the volatility of underlying shares for the expected term calculated on a monthly basis. The risk free interest rate is the implied yield currently available on U.S. Treasury issues with a remaining term equal to the expected life of the awards. The expected life of SARs is based on historic experience of past like-term SARs. Bancorp evaluates historical exercise and post-vesting termination behavior when determining the expected life.

 

RSA Grants – RSAs granted to officers vest equally over a period of five years on each grant’s anniversary date. There is no performance-based requirement necessary for vesting. The fair value of RSAs is equal to the market value of the shares on the date of grant.

 

PSU Grants – PSUs vest based upon service and a three-year performance period, which begins January 1 of the first year of the performance period. Because grantees are not entitled to dividend payments during the performance period, the fair value of these PSUs is estimated based upon the market value of the underlying shares on the date of grant, adjusted for non-payment of dividends. PSUs require a one year post-vesting holding period and the fair value of such grants incorporates a liquidity discount related to the holding period of 5.5%, 5.8% and 5.2% for 2025, 2024 and 2023, respectively.

 

RSU Grants – RSUs are only granted to non-employee directors, are time-based and vest 12 months after grant date. Because grantees are entitled to deferred dividend payments at the end of the vesting period, the fair value of the RSUs equals market value of underlying shares on the date of grant.

 

In the first quarters of 2025 and 2024, Bancorp awarded 7,670 and 9,550 RSUs to non-employee directors of Bancorp with a grant date fair value of $539,000 and $500,000, respectively.

 

Bancorp utilized cash of $344,000 and $203,000 during 2025 and 2024, respectively, for the purchase of shares upon the vesting of RSUs.

 

Bancorp has recognized stock-based compensation expense for SARs, RSAs, and PSUs within compensation expense, and RSUs for directors within other non-interest expense, as follows:

 

   

Year Ended December 31, 2025

  

(in thousands)

  

Stock

Appreciation

Rights

    

Restricted

Stock Awards

    

Restricted

Stock Units

    

Performance

Stock Units

    

Total

  
                                         

Expense

   $ 443     $ 1,914     $ 512     $ 1,539     $ 4,408  

Deferred tax benefit

     (93 )     (402 )     (107 )     (323 )     (925 )

Total net expense

   $ 350     $ 1,512     $ 405     $ 1,216     $ 3,483  

 

   

Year Ended December 31, 2024

  

(in thousands)

  

Stock

Appreciation

Rights

    

Restricted

Stock Awards

    

Restricted

Stock Units

    

Performance

Stock Units

    

Total

  
                                         

Expense

   $ 284     $ 1,699     $ 501     $ 1,289     $ 3,773  

Deferred tax benefit

     (60 )     (357 )     (105 )     (271 )     (793 )

Total net expense

   $ 224     $ 1,342     $ 396     $ 1,018     $ 2,980  

 

   

Year Ended December 31, 2023

  

(in thousands)

  

Stock

Appreciation

Rights

    

Restricted

Stock Awards

    

Restricted

Stock Units

    

Performance

Stock Units

    

Total

  
                                         

Expense

   $ 492     $ 1,599     $ 519     $ 1,854     $ 4,464  

Deferred tax benefit

     (104 )     (336 )     (109 )     (390 )     (939 )

Total net expense

   $ 388     $ 1,263     $ 410     $ 1,464     $ 3,525  

 

Detail of unrecognized stock-based compensation expense to be recognized in the future follows:

 

(in thousands)

Year Ended

  

Stock

Appreciation

Rights

    

Restricted

Stock Awards

    

Restricted

Stock Units

    

Performance

Stock Units

    

Total

  
                                         

2026

   $ 410     $ 1,703     $ 1     $ 1,209     $ 3,323  

2027

     340       1,412       —       1,209       2,961  

2028

     250       1,024       —       —       1,274  

2029

     135       657       —       —       792  

2030

     16       109       —       —       125  

Total estimated expense

   $ 1,151     $ 4,905     $ 1     $ 2,418     $ 8,475  

 

The following table summarizes SARs activity and related information:

 

                                           

Weighted

  
                   

Weighted

            

Weighted

    

average

  
                   

average

    

Aggregate

    

average

    

remaining

  
           

Exercise

    

exercise

    

intrinsic

    

fair

    

contractual

  

(in thousands, except per share and years)

  

SARs

    

price

    

price

    

value(1)

    

value

    

life (in years)

  
                                                 

Outstanding, January 1, 2023

     435    

 

 $19.37 - $74.92     $ 35.60     $ 12,784     $ 6.02       5.1  

Granted

     29       60.76 - 60.76       60.76       —       16.81          

Exercised

     (24 )     19.37 - 19.37       19.37       681       3.58          

Forfeited

     —       —       —       —       —          

Outstanding, December 31, 2023

     440    

 

 $19.44 - $74.92     $ 38.11     $ 6,297     $ 6.86       4.7  
                                                 

Outstanding, January 1, 2024

     440    

 

 $19.44 - $74.92     $ 38.11     $ 6,297     $ 6.86       4.7  

Granted

     42       47.95 - 54.92       49.20       —       13.75          

Exercised

     (142 )     22.96 - 40.00       28.74       5,617       4.51          

Forfeited

     —       —       —       —       —          

Outstanding, December 31, 2024

     340    

 

 $25.76 - $74.92     $ 43.41     $ 9,774     $ 8.69       5.3  
                                                 

Outstanding, January 1, 2025

     340    

 

 $25.76 - $74.92     $ 43.41     $ 9,774     $ 8.69       5.3  

Granted

     26       67.85 - 75.21       74.93       —       23.63          

Exercised

     (28 )     25.76 - 40.00       29.67       1,332       4.32          

Forfeited

     —       —       —       —       —          

Outstanding, December 31, 2025

     338    

 

 $35.90 - $75.21     $ 46.98     $ 6,354     $ 10.21       5.0  
                                                 

Vested and exercisable

     245    

 

 $35.90 - $74.92     $ 42.30     $ 5,565     $ 7.78       3.9  

Unvested

     93       47.17 - 75.21       59.32       789       16.61       3.2  

Outstanding, December 31, 2025

     338    

 

 $35.90 - $75.21     $ 46.98     $ 6,354     $ 10.21       5.0  
                                                 

Vested in the current year

     33    

 

 $36.65 - $74.92     $ 49.39     $ 519     $ 11.30          

 

(1) - Aggregate intrinsic value for SARs is defined as the amount by which the current market price of the underlying stock exceeds the exercise or grant price.

 

SARs outstanding and exercisable by expiration year and weighted average exercise price follows:

 

(in thousands, except per share data)

                  

Expiration Year

  

SARs

outstanding

    

SARs vested and

exercisable

    

Weighted average

exercise price

  

2026

     -       -     $ -  

2027

     16       16       40.00  

2028

     68       68       38.10  

2029

     47       47       37.06  

2030

     46       46       37.30  

2031

     31       25       50.50  

2032

     34       22       55.45  

2033

     29       13       60.76  

2034

     41       8       49.20  

2035

     26       -       79.93  
      338       245     $ 46.98  

 

The following table summarizes activity for RSAs:

 

           

Weighted

  
           

average cost

  

(in thousands, except per share data)

  

RSAs

    

at grant date

  
                 

Unvested at January 1, 2023

     96     $ 47.26  

Shares awarded

     38       63.04  

Restrictions lapsed and shares vested

     (33 )     43.77  

Shares canceled

     (3 )     53.38  

Unvested at December 31, 2023

     98     $ 54.23  
                 

Unvested at January 1, 2024

     98     $ 54.23  

Shares awarded

     46       52.06  

Restrictions lapsed and shares vested

     (33 )     49.49  

Shares canceled

     (9 )     53.10  

Unvested at December 31, 2024

     102     $ 54.92  
                 

Unvested at January 1, 2025

     102     $ 54.92  

Shares awarded

     42       75.34  

Restrictions lapsed and shares vested

     (32 )     51.92  

Shares canceled

     (6 )     61.89  

Unvested at December 31, 2025

     106     $ 62.49  

 

Shares currently expected to be awarded for PSUs granted to executive officers of Bancorp, the three-year performance period, which began January 1 of the award year, are as follows:

 

Grant

Year

  

Vesting

Period in

Years

    

Fair Value

    

Shares Expected

to be Awarded

  

2023

     3     $ 54.33       18,762  

2024

     3       41.84       49,957  

2025

     3       67.61       53,254  

 

All Bancorp equity compensation plans have been approved by shareholders. The following table provides detail of the number of shares to be issued upon exercise of outstanding stock-based awards and remaining shares available for future issuance under Bancorp’s equity compensation plan as of December 31, 2025:

 

   

Number of

            

Shares

  
   

shares to be

    

Weighted

    

available for

  
   

issued upon

    

average

    

future

  

Plan category (in thousands)

  

exercising/vesting

    

exercise price

    

issuance (a)

  
                         

Equity compensation plans approved by security holders:

                        

Stock Appreciation Rights

  

(b)

    

(b)

       953  

Restricted Stock Awards

     106       N/A    

(a)

  

Restricted Stock Units

     7       N/A    

(a)

  

Performance Stock Units

  

(c)

       N/A    

(a)

  

Total shares

     113               953  

 

(a)

Under the 2015 Omnibus Equity Compensation Plan, shares of stock are authorized for issuance as incentive and non-qualified stock options, SARs, RSAs, and RSUs.

 

(b)

At December 31, 2025, approximately 338 SARs were outstanding at a weighted average grant price of $46.98. The number of shares to be issued upon exercise will be determined based on the difference between the grant price and the market price at the date of exercise.

 

(c)

The number of shares to be issued is dependent upon Bancorp achieving certain predefined performance targets and ranges from zero shares to approximately 220 shares. As of December 31, 2025, shares expected to be awarded totaled approximately 122.
v3.25.4
Note 19 - Dividends
 12 Months Ended
Dec. 31, 2025
Notes to Financial Statements  
Restrictions on Dividends, Loans and Advances [Text Block]

(19) Dividends

 

Bancorp’s principal source of cash revenue is dividends paid to it as the sole shareholder of the Bank. At any balance sheet date, the Bank’s regulatory dividend restriction represents the Bank’s net income of the current year plus the prior two years less any dividends paid for the same time period. At December 31, 2025, the Bank may pay an amount equal to $263 million in dividends to Bancorp without regulatory approval subject to ongoing capital requirements of the Bank.

 
v3.25.4
Note 20 - Commitments and Contingent Liabilities
 12 Months Ended
Dec. 31, 2025
Notes to Financial Statements  
Commitments and Contingencies Disclosure [Text Block]

(20) Commitments and Contingent Liabilities

 

As of December 31, 2025 and 2024, Bancorp had various commitments outstanding that arose in the normal course of business which are properly not reflected in the consolidated financial statements. Total off-balance sheet commitments to extend credit follows:

 

December 31, (in thousands)

  

2025

    

2024

  

Commercial and industrial

   $ 811,568     $ 876,503  

Construction and development

     639,190       566,045  

Home equity

     429,070       403,461  

Credit cards

     90,673       92,060  

Overdrafts

     54,863       58,078  

Standby letters of credit

     28,410       30,472  

Other

     99,462       86,010  

Future loan commitments

     177,135       325,613  

Total off balance sheet commitments to extend credit

   $ 2,330,371     $ 2,438,242  

 

Most commitments to extend credit are an agreement to lend to a customer either unsecured or secured, as long as collateral is available as agreed upon and there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses. Since some of the commitments are expected to expire without being drawn upon, the total commitment amounts do not represent future cash requirements. Bancorp uses the same credit and collateral policies in making commitments and conditional guarantees as for on-balance sheet instruments. Bancorp evaluates each customer’s creditworthiness on a case-by-case basis. The amount of collateral obtained is based on management’s credit evaluation of the customer. Collateral held varies but may include accounts receivable, inventory, securities, equipment and real estate. However, should the commitments be drawn upon and should our customers default on their resulting obligation to us, our maximum exposure to credit loss, without consideration of collateral, is represented by the contractual amount of those instruments.

 

The ACL for off balance sheet credit exposures, which is separate from the ACL for loans and recorded in other liabilities on the consolidated balance sheets, was $7.9 million and $6.8 million as of December 31, 2025 and December 31, 2024, respectively. Provision expense for off balance sheet credit exposures of $1.2 million was recorded for the year ended December 31, 2025, driven largely by an increase in estimated future utilization within the C&D portfolio. Provision expense for off balance sheet credit exposures of $925,000 and $1.3 million was recorded the years ended December 31, 2024 and December 31, 2023, respectively.

 

Standby letters of credit are conditional commitments issued by Bancorp to guarantee the performance of a customer to a first party beneficiary. Those guarantees are primarily issued to support commercial transactions. Standby letters of credit generally have maturities of one to two years.

 

Certain commercial customers require confirmation of Bancorp’s letters of credit by other banks since Bancorp does not have a rating by a national rating agency. Terms of the agreements range from one month to a year with certain agreements requiring between one and six months’ notice to cancel. If an event of default on all contracts had occurred at December 31, 2025, Bancorp would have been required to make payments of approximately $4.3 million, which is the maximum amount payable under those contracts. No payments have ever been required because of default on these contracts. These agreements are normally secured by collateral acceptable to Bancorp, which limits credit risk associated with the agreements.

 

Bancorp periodically invests in certain partnerships that generate federal income tax credits, which result in contribution commitments. Such commitments are recorded in other liabilities on the consolidated balance sheets. While contributions are made periodically over the life of the respective investments, which can be up to 10 years depending on the type of investment, the majority of contributions associated with a respective investment are made within the first few years after entering the partnership. Bancorp invested in several larger tax credit partnerships during 2023, which served as an economical means of fulfilling CRA goals. As of December 31, 2025, tax credit contribution commitments of $105 million were recorded in other liabilities on the consolidated balance sheets.

 

As of December 31, 2025, in the normal course of business, there were pending legal actions and proceedings in which claims for damages are asserted. Management, after discussion with legal counsel, believes the ultimate result of these legal actions and proceedings will not have a material adverse effect on the consolidated financial position or results of operations of Bancorp.
v3.25.4
Note 21 - Assets and Liabilities Measured and Reported at Fair Value
 12 Months Ended
Dec. 31, 2025
Notes to Financial Statements  
Fair Value Measurement and Measurement Inputs, Recurring and Nonrecurring [Text Block]

(21) Assets and Liabilities Measured and Reported at Fair Value

 

Fair value represents the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. There are three levels of inputs that may be used to measure fair values:

 

Level 1 – Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date.

 

Level 2 – Significant other observable inputs other than Level 1 prices such as 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 – Significant unobservable inputs that reflect a company’s own assumptions about the assumptions that market participants would use in pricing an asset or liability.

 

Bancorp maximizes of use of observable inputs and minimizes the use of unobservable inputs in fair value measurements. Where there exists limited or no observable market data, Bancorp derives its own estimates by generally considering characteristics of the asset/liability, the current economic and competitive environment and other factors. For this reason, results cannot be determined with precision and may not be realized on an actual sale or immediate settlement of the asset or liability.

 

Bancorp used the following methods and significant assumptions to estimate fair value of each type of financial instrument:

 

AFS debt securities - Except for Bancorp’s U.S Treasury securities, the fair value of AFS debt securities is typically determined by matrix pricing, which is a mathematical technique used widely in the industry to value debt securities without relying exclusively on quoted prices for the specific securities, but rather by relying on the securities’ relationship to other benchmark quoted securities (Level 2 inputs). Bancorp’s U.S. Treasury and other U.S. Government obligation securities are based on quoted market prices (Level 1 inputs).

 

Mortgage loans held for sale - The fair value of mortgage loans held for sale is determined using quoted secondary market prices (Level 2 inputs).

 

Mortgage banking derivatives – Mortgage banking derivatives used in the ordinary course of business consist primarily of interest rate lock loan commitments and mandatory forward sales contracts. The fair value of Bancorp’s derivative instruments is primarily measured by obtaining pricing from broker-dealers recognized to be market participants. The pricing is derived from observable market inputs that can generally be verified and do not typically involve significant judgment by Bancorp (Level 2 inputs).

 

Interest rate swap agreements – Interest rate swaps are valued using valuations received from the relevant dealer counterparty. These valuations consider multiple observable market inputs, including interest rate yield curves, time value and volatility factors (Level 2 inputs).

 

Carrying values of assets measured at fair value on a recurring basis follows:

 

   

Fair Value Measurements Using:

    

Total

  

December 31, 2025 (in thousands)

  

Level 1

    

Level 2

    

Level 3

    

Fair Value

  

Assets:

                                

Available for sale debt securities:

                                

Government sponsored enterprise obligations

   $ —     $ 72,819     $ —     $ 72,819  

Mortgage backed securities

     —       535,007       —       535,007  

Obligations of states and political subdivisions

     —       113,754       —       113,754  

Other

     —       531       —       531  

Total available for sale debt securities

   $ —       722,111       —       722,111  
                                 

Mortgage loans held for sale

     —       6,247       —       6,247  

Rate lock loan commitments

     —       333       —       333  

Interest rate swap assets

     —       4,501       —       4,501  

Total assets

   $ —     $ 733,192     $ —     $ 733,192  
                                 

Liabilities:

                                

Interest rate swap liabilities

   $ —     $ 6,319     $ —     $ 6,319  

Mandatory forward contracts

     —       49       —       49  

Total liabilities

   $ —     $ 6,368     $ —     $ 6,368  

 

   

Fair Value Measurements Using:

    

Total

  

December 31, 2024 (in thousands)

  

Level 1

    

Level 2

    

Level 3

    

Fair Value

  

Assets:

                                

Available for sale debt securities:

                                

U.S. Treasury and other U.S. Government obligations

   $ 198,215     $ —     $ —     $ 198,215  

Government sponsored enterprise obligations

     —       84,158       —       84,158  

Mortgage backed securities

     —       590,977       —       590,977  

Obligations of states and political subdivisions

     —       114,234       —       114,234  

Other

     —       2,530       —       2,530  

Total available for sale debt securities

     198,215       791,899       —       990,114  
                                 

Mortgage loans held for sale

     —       6,286       —       6,286  

Rate lock loan commitments

     —       255       —       255  

Mandatory forward contracts

     —       56       —       56  

Interest rate swap assets

     —       12,437       —       12,437  

Total assets

   $ 198,215     $ 810,933     $ —     $ 1,009,148  
                                 

Liabilities:

                                

Interest rate swap liabilities

   $ —     $ 8,589     $ —     $ 8,589  

 

Bancorp had no financial instruments classified within Level 3 of the valuation hierarchy for assets and liabilities measured at fair value on a recurring basis at December 31, 2025 or 2024. There were no transfers into or out of Level 3 of the fair value hierarchy during 2025 or 2024. 

 

Discussion of assets measured at fair value on a non-recurring basis follows:

 

Collateral dependent loans – For collateral-dependent loans where Bancorp has determined that the liquidation or foreclosure of the collateral is probable, or where the borrower is experiencing financial difficulty and the Company expects repayment of the loan to be provided substantially through the operation or sale of the collateral, the ACL is measured based on the difference between the estimated fair value of the collateral and the amortized cost basis of the loan as of the measurement date. For real estate loans, fair value of the loan’s collateral is determined by third party or internal appraisals, which are then adjusted for the estimated selling and closing costs related to liquidation of the collateral. For this asset class, the actual valuation methods (income, comparable sales, or cost) vary based on the status of the project or property. The unobservable inputs may vary depending on the individual assets with no one of the three methods being the predominant approach. Bancorp reviews the third party appraisal for appropriateness and adjusts the value to consider selling and closing costs, which typically range from 8% to 10% of the appraised value. For non-real estate loans, fair value of the loan’s collateral may be determined using an appraisal, net book value per the borrower’s financial statements, or aging reports, adjusted or discounted based on management’s historical knowledge, changes in market conditions from the time of the valuation and management’s expertise or knowledge of the client and client’s business.

 

OREO – Bancorp obtains the valuation of OREO with material balances from third party appraisers. For this asset class, the actual valuation methods (income, sales comparable, or cost) vary based on the status of the project or property. The unobservable inputs may vary depending on the individual assets with no one of the three methods being the predominant approach. Bancorp reviews the appraisal for appropriateness and adjusts the value to consider selling and closing costs, which typically range from 8% to 10% of the appraised value.

 

Below are carrying values of assets measured at fair value on a non-recurring basis:

 

(in thousands)

  

Fair Value Measurement Using:

          

December 31, 2025

  

Level 1

    

Level 2

    

Level 3

    

Total Fair Value

  
                                 

Collateral dependent loans

   $ —     $ —     $ 14,684     $ 14,684  

Other real estate owned

     —       —       190       190  

 

(in thousands)

  

Fair Value Measurement Using:

          

December 31, 2024

  

Level 1

    

Level 2

    

Level 3

    

Total Fair Value

  
                                 

Collateral dependent loans

   $ —     $ —     $ 12,227     $ 12,227  

 

(in thousands)

  

Fair Value Measurement Using:

          

December 31, 2023

  

Level 1

    

Level 2

    

Level 3

    

Total Fair Value

  
                                 

Collateral dependent loans

   $ —     $ —     $ 13,561     $ 13,561  

Other real estate owned

     —       —       10       10  

 

There were no liabilities measured at fair value on a non-recurring basis at December 31, 2025 and December 31, 2024.

 

For Level 3 assets measured at fair value on a non-recurring basis, the significant unobservable inputs used in the fair value measurements are presented below:

 

   

December 31, 2025

  

(dollars in thousands)

  

Fair Value

  

Valuation Technique

  

Unobservable Inputs

  

Weighted Average

Discount

  
                       

Collateral dependent loans

   $ 14,684  

Appraisal

  

Appraisal discounts

     22.6

%

Other real estate owned

     190  

Appraisal

  

Appraisal discounts

     15.4  

 

   

December 31, 2024

  

(dollars in thousands)

  

Fair Value

  

Valuation Technique

 

 Unobservable Inputs  

Weighted Average

Discount

  
                       

Collateral dependent loans

   $ 12,227  

Appraisal

 

 Appraisal discounts     15.7

%

 
v3.25.4
Note 22 - Disclosure of Financial Instruments Not Reported at Fair Value
 12 Months Ended
Dec. 31, 2025
Notes to Financial Statements  
Fair Value Disclosures [Text Block]

(22) Disclosure of Financial Instruments Not Reported at Fair Value

 

GAAP requires disclosure of the fair value of financial assets and liabilities, including those financial assets and financial liabilities that are not measured and reported at fair value on a recurring basis or nonrecurring basis. The estimated fair values of Bancorp’s financial instruments not measured at fair value on a recurring or non-recurring basis follows:

 

   

Carrying

            

Fair Value Measurements Using:

  

December 31, 2025 (in thousands)

  

amount

    

Fair value

    

Level 1

    

Level 2

    

Level 3

  
                                         

Assets

                                        

Cash and cash equivalents

   $ 886,376     $ 886,376     $ 886,376     $ —     $ —  

HTM debt securities

     198,946       181,203       1,982       179,221       —  

Federal Home Loan Bank stock

     20,717       20,717       —       20,717       —  

Loans, net

     6,949,443       6,872,537       —       —       6,872,537  

Accrued interest receivable

     28,783       28,783       28,783       —       —  
                                         

Liabilities

                                        

Non-interest bearing deposits

   $ 1,435,846     $ 1,435,846     $ 1,435,846     $ —     $ —  

Transaction deposits

     4,618,757       4,618,757       —       4,618,757       —  

Time deposits

     1,736,534       1,740,161       —       1,740,161       —  

Securities sold under agreement to repurchase

     112,476       112,476       —       112,476       —  

Federal funds purchased

     7,289       7,289       —       7,289       —  

Subordinated debentures

     26,806       26,547       —       26,547       —  

FHLB advances

     300,000       297,101       —       297,101       —  

Accrued interest payable

     1,740       1,740       1,740       —       —  

 

   

Carrying

            

Fair Value Measurements Using:

  

December 31, 2024 (in thousands)

  

Amount

    

Fair Value

    

Level 1

    

Level 2

    

Level 3

  
                                         

Assets

                                        

Cash and cash equivalents

   $ 291,020     $ 291,020     $ 291,020     $ —     $ —  

HTM debt securities

     370,171       341,357       153,108       188,249       —  

Federal Home Loan Bank stock

     21,603       21,603       —       21,603       —  

Loans, net

     6,433,459       6,256,752       —       —       6,256,752  

Accrued interest receivable

     27,697       27,697       27,697       —       —  
                                         

Liabilities

                                        

Non-interest bearing deposits

   $ 1,456,138     $ 1,456,138     $ 1,456,138     $ —     $ —  

Transaction deposits

     4,472,475       4,472,475       —       4,472,475       —  

Time deposits

     1,237,788       1,236,463       —       1,236,463       —  

Securities sold under agreement to repurchase

     162,967       162,967       —       162,967       —  

Federal funds purchased

     6,525       6,525       —       6,525       —  

Subordinated debentures

     26,806       26,346       —       26,346       —  

FHLB advances

     300,000       294,848       —       294,848       —  

Accrued interest payable

     1,912       1,912       1,912       —       —  

 

Fair value estimates are made at a specific point in time based on relevant market information and information about financial instruments. Because no market exists for a significant portion of Bancorp’s financial instruments, fair value estimates are based on judgments regarding future expected loss experience, current economic conditions, risk characteristics of various financial instruments and other factors. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and therefore cannot be determined with precision. Therefore, calculated fair value estimates in many instances cannot be substantiated by comparison to independent markets and, in many cases, may not be realizable in a current sale of the instrument. Changes in assumptions could significantly impact estimates.

 
v3.25.4
Note 23 - Mortgage Banking Activities
 12 Months Ended
Dec. 31, 2025
Notes to Financial Statements  
Regulatory Capital Requirements for Mortgage Companies Disclosure [Text Block]

(23) Mortgage Banking Activities

 

Mortgage banking activities primarily include residential mortgage originations and servicing.

 

Activity for mortgage loans held for sale, at fair value, was as follows:

 

Years ended December 31, (in thousands)

  

2025

    

2024

    

2023

  

Balance, beginning of period:

   $ 6,286     $ 6,056     $ 2,606  

Origination of mortgage loans held for sale

     149,329       114,773       105,912  

Loans held for sale acquired

     —       —       —  

Proceeds from the sale of mortgage loans held for sale

     (152,661 )     (116,974 )     (104,152 )

Net gain realized on sale of mortgage loans held for sale

     3,293       2,431       1,690  

Balance, end of period

   $ 6,247     $ 6,286     $ 6,056  

 

The following table represents the components of Mortgage banking income:

 

Years ended December 31, (in thousands)

  

2025

    

2024

    

2023

  
                         

Net gain realized on sale of mortgage loans held for sale

   $ 3,293     $ 2,431     $ 1,690  

Net change in fair value recognized on loans held for sale

     50       (4 )     33  

Net change in fair value recognized on rate lock loan commitments

     110       41       23  

Net change in fair value recognized on forward contracts

     (458 )     219       150  

Net gain recognized

     2,995       2,687       1,896  
                         

Net loan servicing income

     3,066       3,455       4,387  

Amortization of mortgage servicing rights

     (2,386 )     (2,726 )     (2,961 )

Change in mortgage servicing rights valuation allowance

     -       -       -  

Net servicing income recognized

     680       729       1,426  
                         

Other mortgage banking income

     448       442       383  

Total mortgage banking income

   $ 4,123     $ 3,858     $ 3,705  

 

Activity for capitalized mortgage servicing rights was as follows:

 

Years ended December 31, (in thousands)

  

2025

    

2024

    

2023

  

Balance, beginning of period

   $ 11,333     $ 13,082     $ 15,219  

Additions for mortgage loans sold

     1,242       977       824  

Amortization

     (2,386 )     (2,726 )     (2,961 )

Impairment

     —       —       —  

Balance, end of period

   $ 10,189     $ 11,333     $ 13,082  

 

MSRs, a component of other assets, are initially recognized at fair value when mortgage loans are sold with servicing retained. The MSRs are amortized in proportion to and over the period of estimated net servicing income, considering appropriate prepayment assumptions. MSRs are evaluated quarterly for impairment by comparing carrying value to fair value. Fair value is based on a valuation model that calculates the PV of estimated net servicing income. The model incorporates assumptions that market participants would use in estimating future net servicing income, such as estimated prepayment speeds and discount rates.

 

The estimated fair value of MSRs at December 31, 2025 and December 31, 2024 were $22 million and $25 million, respectively. There was no valuation allowance recorded for MSRs as of December 31, 2025 and December 31, 2024, as fair value exceeded carrying value. The fair value of MSRs at December 31, 2025 was determined using discount rates ranging from 9.5% to 12.5%, prepayment speeds ranging from 6.8% to 11.8%, depending on the characteristics of the specific rights (rate, maturity, etc.), and a weighted average default rate of 0.5%. The fair value of MSRs at December 31, 2024 was determined using discount rates ranging from 10.0% to 13.0%, prepayment speeds ranging from 5.3% to 10.5%, depending on the characteristics of the specific rights, and a weighted average default rate of 0.6%.

 

Total outstanding principal balances of loans serviced for others were $1.73 billion and $1.82 billion at December 31, 2025 and December 31, 2024, respectively.

 

Mortgage banking derivatives used in the ordinary course of business consist primarily of mandatory forward sales contracts and interest rate lock loan commitments. Mandatory forward contracts represent future loan commitments to deliver loans at a specified price and date and are used to manage interest rate risk on loan commitments and mortgage loans held for sale. Interest rate lock loan commitments represent commitments to fund loans at a specific rate. These derivatives involve underlying items, such as interest rates, and are designed to transfer risk. Substantially all of these instruments expire within 90 days from the date of issuance. Notional amounts are amounts on which calculations and payments are based, but which do not represent credit exposure, as credit exposure is limited to the amount required to be received or paid.

 

Mandatory forward contracts contain an element of risk in that the counterparties may be unable to meet the terms of such agreements. In the event the counterparties fail to deliver commitments or are unable to fulfill their obligations, the Bank could potentially incur significant additional costs by replacing the positions at then current market rates. The Bank manages its risk of exposure by limiting counterparties to those banks and institutions deemed appropriate by management. The Bank does not expect any counterparty to default on their obligations and therefore, the Bank does not expect to incur any cost related to counterparty default.

 

The Bank is exposed to interest rate risk on loans held for sale and rate lock loan commitments. As market interest rates fluctuate, the fair value of mortgage loans held for sale and rate lock commitments will fluctuate. To offset this interest rate risk, the Bank enters into derivatives, such as mandatory forward contracts to sell loans. The fair value of these mandatory forward contracts will fluctuate as market interest rates fluctuate, and the change in the value of these instruments is expected to largely, though not entirely, offset the change in fair value of loans held for sale and rate lock commitments. The objective of this activity is to minimize the exposure to losses on rate lock loan commitments and loans held for sale due to market interest rate fluctuations. The net effect of derivatives on earnings will depend on risk management activities and a variety of other factors, including: market interest rate volatility; the amount of rate lock commitments that close; the ability to fill the forward contracts before expiration; and the time period required to close and sell loans.

 

The following table includes the notional amounts and fair values of mortgage loans held for sale and mortgage banking derivatives:

 

   

December 31, 2025

    

December 31, 2024

  

(in thousands)

  

Notional

Amount

    

Fair Value

    

Notional

Amount

    

Fair Value

  

Included in Mortgage loans held for sale:

                                

Mortgage loans held for sale, at fair value

   $ 6,111     $ 6,247     $ 6,199     $ 6,286  
                                 

Included in other assets:

                                

Rate lock loan commitments

   $ 7,799     $ 333     $ 7,138     $ 225  

Mandatory forward contracts

     -       -       9,000       56  
                                 

Included in other liabilities:

                                

Mandatory forward contracts

   $ 10,250     $ 49     $ -     $ -  

 
v3.25.4
Note 24 - Derivative Financial Instruments
 12 Months Ended
Dec. 31, 2025
Notes to Financial Statements  
Derivative Instruments and Hedging Activities Disclosure [Text Block]

(24) Derivative Financial Instruments

 

Periodically, Bancorp enters into interest rate swap transactions with borrowers who desire to hedge exposure to rising interest rates, while at the same time entering into an offsetting interest rate swap, with substantially matching terms, with another approved independent counterparty. These are undesignated derivative instruments and are recognized on the balance sheet at fair value. Because of matching terms of offsetting contracts and collateral provisions mitigating any non-performance risk, changes in fair value subsequent to initial recognition have an insignificant effect on earnings. Exchanges of cash flows related to undesignated interest rate swap agreements were offsetting and therefore had no effect on Bancorp’s earnings or cash flows.

 

Interest rate swap agreements derive their value from underlying interest rates. These transactions involve both credit and market risk. Notional amounts are amounts on which calculations, payments and the value of the derivative are based. Notional amounts do not represent direct credit exposures. Direct credit exposure is limited to the net difference between the calculated amounts to be received and paid, if any. Bancorp is exposed to credit-related losses in the event of non-performance by counterparties to these agreements. Bancorp mitigates the credit risk of its financial contracts through credit approvals, collateral and monitoring procedures, and does not expect any counterparties to fail their obligations. As of December 31, 2025, Bancorp had interest rate swap contracts entered into with a single counterparty in a net liability position of $1.6 million. Bancorp had posted cash collateral of $5 million with the single counterparty as of December 31, 2025, which is included in Federal fund sold and interest bearing due from banks on the consolidated balance sheets. The remaining interest rate swap transactions are entered into with borrowers and are not subject to netting.

 

Bancorp had outstanding undesignated interest rate swap contracts as follows:

 

   

Assets

    

Liabilities

  
   

December 31,

   

December 31,

    

December 31,

   

December 31,

  

(dollars in thousands)

  

2025

    

2024

    

2025

    

2024

  
                                 

Notional amount

   $ 345,098     $ 244,247     $ 345,098     $ 244,247  

Weighted average maturity (years)

     4.0       5.0       4.0       5.0  

Fair value

   $ 4,428     $ 8,589     $ 4,428     $ 8,589  

 

During the first quarter of 2023, Bancorp entered into an interest rate swap to hedge cash flows of a $100 million rolling fixed-rate three-month FHLB borrowing. The swap began February 6, 2023 and matures February 6, 2028. During the third quarter of 2023, Bancorp entered into two additional interest rate swaps to hedge cash flows of two $50 million rolling fixed-rate three-month FHLB borrowings. These swaps began August 7, 2023, with one maturing August 6, 2026 and the other maturing August 6, 2028. During the third quarter of 2024, Bancorp entered into another interest rate swap to hedge cash flows of a $100 million rolling fixed-rate three-month FHLB borrowing. The swap began on August 6, 2024 and matures on August 6, 2029.

 

While Bancorp expects to utilize fixed-rate three-month FHLB advances with respect to these interest rate swaps, brokered CDs or other fixed rate advances may be utilized for the same three-month terms instead should those sources be more favorable. For purposes of hedging, rolling fixed rate advances are considered to be floating rate liabilities.

 

Interest rate swaps involve exchange of Bancorp’s floating rate interest payments for fixed rate swap payments on underlying principal amounts. These swaps were designated and qualified, for cash-flow hedge accounting. For derivative instruments that are designated and qualify as cash flow hedging instruments, changes in the fair value of the derivatives are initially reported as a component of AOCI, and are subsequently reclassified into earnings as an adjustment to interest expense in periods for which the hedged forecasted transaction impacts earnings.

 

The following table details Bancorp’s derivative positions designated as a cash flow hedges, and the related fair values:

 

                       

Fair value

  

(dollars in thousands)

            

Pay fixed

    

December 31,

  

Notional Amount

  

Maturity Date

  

Receive (variable) index

    

swap rate

    

2025

  
$ 100,000  

2/6/2028

  

USD SOFR

       3.27 %   $ 73  
  50,000  

8/6/2026

  

USD SOFR

       4.38 %     (294 )
  50,000  

8/6/2028

  

USD SOFR

       3.97 %     (888 )
  100,000  

8/6/2029

  

USD SOFR

       3.58 %     (855 )
$ 300,000                     $ (1,964 )

 
v3.25.4
Note 25 - Regulatory Matters
 12 Months Ended
Dec. 31, 2025
Notes to Financial Statements  
Regulatory Capital Requirements under Banking Regulations [Text Block]

(25) Regulatory Matters

 

Bancorp and the Bank are subject to capital regulations in accordance with Basel III, as administered by banking regulators. Regulatory agencies measure capital adequacy within a framework that makes capital requirements, in part, dependent on the individual risk profiles of financial institutions. 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 Bancorp’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Holding Company and the Bank must meet specific capital guidelines that involve quantitative measures of Bancorp’s 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 regarding components, risk weightings and other factors.

 

Banking regulators have categorized the Bank as well-capitalized. To meet the definition of well-capitalized, a bank must have a minimum 6.5% Common Equity Tier 1 Risk-Based Capital ratio, 8.0% Tier 1 Risk-Based Capital ratio, 10.0% Total Risk-Based Capital ratio and 5.0% Tier 1 Leverage ratio.

 

Additionally, in order to avoid limitations on capital distributions, including dividend payments and certain discretionary bonus payments to executive officers, Bancorp and the Bank must hold a 2.5% capital conservation buffer composed of Common Equity Tier 1 Risk-Based Capital above the minimum risk-based capital requirements for the Common Equity Tier 1 Risk-Based Capital ratio, Tier 1 Risk-Based Capital ratio and Total Risk-Based Capital ratio necessary to be considered adequately-capitalized. At December 31, 2025, the adequately-capitalized minimums, including the capital conservation buffer, were a 7.0% Common Equity Tier 1 Risk-Based Capital ratio, 8.5% Tier 1 Risk-Based Capital ratio and 10.5% Total Risk-Based Capital ratio.

 

As a result of the CB acquisition, Bancorp became the 100% successor owner of the following unconsolidated trust subsidiaries: Commonwealth Statutory Trust III, Commonwealth Statutory Trust IV and Commonwealth Statutory Trust V. The sole assets of the trust subsidiaries represent the proceeds of offerings loaned in exchange for subordinated debentures with similar terms to the TPS. The TPS are treated as part of Tier 1 Capital. The subordinated note and related interest expense are included in Bancorp’s consolidated financial statements. The subordinated notes are currently redeemable at Bancorp’s option on a quarterly basis. As of December 31, 2025, subordinated notes added through the CB acquisition totaled $27 million.

 

Bancorp continues to exceed the regulatory requirements for all calculations. Bancorp and the Bank intend to maintain a capital position that meets or exceeds the “well-capitalized” requirements as defined by the FRB and the FDIC, in addition to the capital conservation buffer.

 

The following table sets forth consolidated Bancorp’s and the Bank’s risk based capital amounts and ratios:

 

(dollars in thousands)

  

Actual

    

Minimum for adequately

capitalized

    

Minimum for well

capitalized

  

December 31, 2025

  

Amount

    

Ratio

    

Amount

    

Ratio

    

Amount

    

Ratio

  
                                                 

Total risk-based capital (1)

                                                

Consolidated

   $ 1,057,932       13.42

%

   $ 630,800       8.00

%

  

NA

    

NA

  

Bank

     1,030,454       13.07       630,567       8.00     $ 788,209       10.00 %
                                                 

Common equity tier 1 risk-based capital (1)

                                                

Consolidated

     933,354       11.84       354,825       4.50    

NA

    

NA

  

Bank

     931,912       11.82       354,694       4.50       512,336       6.50  
                                                 

Tier 1 risk-based capital (1)

                                                

Consolidated

     959,354       12.17       473,100       6.00    

NA

    

NA

  

Bank

     931,912       11.82       472,925       6.00       630,567       8.00  
                                                 

Leverage

                                                

Consolidated

     959,354       10.30       372,695       4.00    

NA

    

NA

  

Bank

     931,912       10.01       372,449       4.00       465,561       5.00  

 

(dollars in thousands)

  

Actual

    

Minimum for adequately

capitalized

    

Minimum for well

capitalized

  

December 31, 2024

  

Amount

    

Ratio

    

Amount

    

Ratio

    

Amount

    

Ratio

  
                                                 

Total risk-based capital (1)

                                                

Consolidated

   $ 943,723       12.73

%

   $ 593,201       8.00

%

  

NA

    

NA

  

Bank

     918,210       12.39       593,002       8.00     $ 741,252       10.00 %
                                                 

Common equity tier 1 risk-based capital (1)

                                                

Consolidated

     828,386       11.17       333,676       4.50    

NA

    

NA

  

Bank

     828,873       11.18       333,564       4.50       481,814       6.50  
                                                 

Tier 1 risk-based capital (1)

                                                

Consolidated

     854,386       11.52       444,901       6.00    

NA

    

NA

  

Bank

     828,873       11.18       444,751       6.00       593,002       8.00  
                                                 

Leverage

                                                

Consolidated

     854,386       9.94       343,886       4.00    

NA

    

NA

  

Bank

     828,873       9.65       343,624       4.00       429,530       5.00  

 

(1)    Ratio is computed in relation to risk-weighted assets.

 

NA – Regulatory framework does not define “well-capitalized” for holding companies.

 
v3.25.4
Note 26 - Stock Yards Bancorp, Inc. (Parent Company Only)
 12 Months Ended
Dec. 31, 2025
Notes to Financial Statements  
Condensed Financial Information of Parent Company Only Disclosure [Text Block]

(26) Stock Yards Bancorp, Inc. (parent company only)

 

Condensed Balance Sheets

                
   

December 31,

  

(in thousands)

  

2025

    

2024

  
                 

Assets

                

Cash on deposit with subsidiary bank

   $ 1,978     $ 2,481  

Investment in and receivable from subsidiaries

     1,075,061       941,769  

Other assets

     26,006       23,608  

Total assets

   $ 1,103,045     $ 967,858  
                 

Liabilities and stockholders' equity

                

Other liabilities

   $ 27,348     $ 27,382  

Total stockholders’ equity

     1,075,697       940,476  

Total liabilities and stockholders’ equity

   $ 1,103,045     $ 967,858  

 

Condensed Statements of Income

                        
                         
   

Years ended December 31,

  

(in thousands)

  

2025

    

2024

    

2023

  
                         

Income - dividends and interest from subsidiaries

   $ 41,002     $ 38,426     $ 33,965  

Other income

     1       1       110  

Less expenses

     6,575       6,503       7,458  

Income before income taxes and equity in undistributed net income of subsidiary

     34,428       31,924       26,617  

Income tax benefit

     (2,306 )     (3,323 )     (2,490 )

Income before equity in undistributed net income of subsidiary

     36,734       35,247       29,107  

Equity in undistributed net income of subsidiary

     103,416       79,292       78,641  

Net income

   $ 140,150     $ 114,539     $ 107,748  

 

Condensed Statements of Cash Flows

                        
                         
   

Years ended December 31,

  

(in thousands)

  

2025

    

2024

    

2023

  

Operating activities

                        

Net income available to stockholders

   $ 140,150     $ 114,539     $ 107,748  

Adjustments to reconcile net income to net cash provided by operating activities:

                        

Equity in undistributed net income of subsidiaries

     (103,416 )     (79,292 )     (78,641 )

Decrease (increase) in receivable from subsidiaries

     —       —       2,971  

Stock compensation expense

     4,408       3,773       4,464  

Excess tax benefits from stock- based compensation arrangements

     (604 )     (1,228 )     (644 )

Change in other assets

     (2,400 )     (2,399 )     (1,696 )

Change in other liabilities

     556       1,329       402  

Net cash provided by operating activities

     38,694       36,722       34,604  
                         

Investing activities

                        

Purchase of equity investment

     —       —       (206 )

Net cash used in investing activities

     —       —       (206 )
                         

Financing activities

                        

Repurchase of common stock

     (2,091 )     (4,217 )     (2,695 )

Cash dividends paid

     (37,106 )     (35,835 )     (34,575 )

Net cash used in financing activities

     (39,197 )     (40,052 )     (37,270 )

Net decrease in cash

     (503 )     (3,330 )     (2,872 )

Cash at beginning of year

     2,481       5,811       8,683  

Cash at end of year

   $ 1,978     $ 2,481     $ 5,811  

 
v3.25.4
Note 27 - Segments
 12 Months Ended
Dec. 31, 2025
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]

(27) Segments

 

Bancorp’s principal activities are divided into two reportable segments, Commercial Banking and WM&T, which are delineated based on the products and services that each segment offers:

 

Commercial Banking provides a full range of loan and deposit products to individual consumers and businesses through retail lending, mortgage banking, deposit services, online banking, mobile banking, private banking, commercial lending, commercial real estate lending, leasing, treasury management services, merchant services, international banking, correspondent banking, credit card services, and other banking services. Bancorp also offers securities brokerage services via its banking center network through an arrangement with a third party broker-dealer in the Commercial Banking segment. 

 

WM&T provides investment management, financial & retirement planning and trust & estate services, as well as retirement plan management for businesses and corporations in all markets in which Bancorp operates. The magnitude of WM&T revenue distinguishes Bancorp from other community banks of similar asset size.

 

Bancorp’s Commercial Banking and WM&T segments overlap a regional reporting structure. These regions are based on the primary geographic markets in which Bancorp operates, specifically Louisville, central, eastern and northern Kentucky, and the Indianapolis, Indiana and Cincinnati, Ohio MSAs. All regions share the same lines of business, including the same products, services and delivery methods, as well as similar customer bases and pricing guidelines.

 

Financial information for each business segment reflects that which is specifically identifiable or allocated based on an internal allocation method. Income taxes are allocated based on the effective federal income tax rate adjusted for any tax-exempt activity. All tax-exempt activity and provision have been allocated fully to the commercial banking segment. Other direct and indirect/allocated expenses include legal and professional fees, advertising and business development costs as well as other miscellaneous expenses. Measurement of performance for business segments is based on the management structure of Bancorp and is not necessarily comparable with similar information for any other financial institution. Information presented is also not necessarily indicative of the segments’ operations if they were independent entities.

 

Bancorp’s chief executive officer is the chief operating decision maker. The financial results by operating segment, including significant expense categories provided to the chief operating decision maker, help measure the profitability of a particular segment and identify trends, evaluate each segment and its impact on consolidated earnings, and enhance decision making processes related to the allocation of Bancorp’s resources. Bancorp evaluates performance and allocates resources based on a reportable segment’s net income.

 

The majority of the net assets of Bancorp are associated with in the Commercial Banking segment. As of December 31, 2025, goodwill totaling $194 million was recorded on Bancorp’s consolidated balance sheets, of which $172 million is attributed to the commercial banking segment and $22 million is attributed to WM&T.

 

WM&T AUM, which the primary driver of WM&T revenue, are not included on the consolidated balance sheets of Bancorp. WM&T AUM totaled $7.64 billion, $7.07 billion and $7.16 billion as of December 31, 2025, 2024 and 2023, respectively.

 

Financial results by operating segment, including significant expense categories provided to the chief operating decision maker, are detailed below:

 

   

Commercial

                 

As of and for the Year Ended December 31, 2025 (in thousands)

  

Banking

   

WM&T

    

Total

 

Interest income

   $ 466,476     $ 1,113     $ 467,589  

Interest expense

     167,277       —       167,277  

Net interest income

     299,199       1,113       300,312  

Provision for credit losses

     6,700       —       6,700  

Net interest income after provision expense

     292,499       1,113       293,612  

Non-interest income:

                        

Wealth management and trust services

     —       42,808       42,808  

All other non-interest income

     54,140       —       54,140  

Total non-interest income

     54,140       42,808       96,948  

Non-interest expenses:

                        

Compensation and employee benefits

     112,211       19,606       131,817  

Net occupancy and equipment

     15,549       984       16,533  

Technology and communication

     17,090       2,205       19,295  

Intangible amortization

     2,290       1,368       3,658  

Other direct and indirect/allocated expenses

     38,380       2,681       41,061  

Total Non-interest expenses

     185,520       26,844       212,364  

Income before income tax expense

     161,119       17,077       178,196  

Income tax expense

     34,340       3,706       38,046  

Net income

   $ 126,779     $ 13,371     $ 140,150  

 

   

Commercial

                 

As of and for the Year Ended December 31, 2024 (in thousands)

  

Banking

   

WM&T

    

Total

 

Interest income

   $ 411,829     $ 1,050     $ 412,879  

Interest expense

     155,839       —       155,839  

Net interest income

     255,990       1,050       257,040  

Provision for credit losses

     9,725       —       9,725  

Net interest income after provision expense

     246,265       1,050       247,315  

Non-interest income:

                        

Wealth management and trust services

     —       42,843       42,843  

All other non-interest income

     52,387       —       52,387  

Total non-interest income

     52,387       42,843       95,230  

Non-interest expenses:

                        

Compensation and employee benefits

     103,933       17,177       121,110  

Net occupancy and equipment

     14,396       797       15,193  

Technology and communication

     16,914       2,293       19,207  

Intangible amortization

     2,965       1,520       4,485  

Other direct and indirect/allocated expenses

     36,104       2,080       38,184  

Total Non-interest expenses

     174,312       23,867       198,179  

Income before income tax expense

     124,340       20,026       144,366  

Income tax expense

     25,481       4,346       29,827  

Net income

   $ 98,859     $ 15,680     $ 114,539  

 

   

Commercial

                 

As of and for the Year Ended December 31, 2023 (in thousands)

  

Banking

   

WM&T

    

Total

 

Interest income

   $ 345,988     $ 708     $ 346,696  

Interest expense

     99,364       —       99,364  

Net interest income

     246,624       708       247,332  

Provision for credit losses

     13,796       —       13,796  

Net interest income after provision expense

     232,828       708       233,536  

Non-interest income:

                        

Wealth management and trust services

     —       39,802       39,802  

All other non-interest income

     52,418       —       52,418  

Total non-interest income

     52,418       39,802       92,220  

Non-interest expenses:

                        

Compensation and employee benefits

     93,680       16,647       110,327  

Net occupancy and equipment

     13,917       2,467       16,384  

Technology and communication

     15,476       1,842       17,318  

Intangible amortization

     3,014       1,672       4,686  

Other direct and indirect/allocated expenses

     37,229       1,885       39,114  

Total Non-interest expenses

     163,316       24,513       187,829  

Income before income tax expense

     121,930       15,997       137,927  

Income tax expense

     26,708       3,471       30,179  

Net income

   $ 95,222     $ 12,526     $ 107,748  

 
v3.25.4
Note 28 - Revenue from Contracts with Customers
 12 Months Ended
Dec. 31, 2025
Notes to Financial Statements  
Revenue from Contract with Customer [Text Block]

(28) Revenue from Contracts with Customers

 

All of Bancorp’s revenue from contracts with customers in the scope of ASC 606 is recognized within non-interest income. The table below presents Bancorp’s sources of non-interest income by business segment with items outside the scope of ASC 606 noted as such:

 

   

Year Ended December 31, 2025

  
                         

(in thousands)

  

Commercial

    

WM&T

    

Total

  
                         

Wealth management and trust services

   $ —     $ 42,808     $ 42,808  

Deposit service charges

     8,732       —       8,732  

Debit and credit card income

     19,873       —       19,873  

Treasury management fees

     11,679       —       11,679  

Mortgage banking income (1)

     4,123       —       4,123  

Net investment product sales commissions and fees

     4,221       —       4,221  

Bank owned life insurance (1)

     2,515       —       2,515  

Gain (loss) on sale of premises and equipment (1)

     72       —       72  

Other (2)

     2,925       —       2,925  

Total non-interest income

   $ 54,140     $ 42,808     $ 96,948  

 

   

Year Ended December 31, 2024

  
                         

(in thousands)

  

Commercial

    

WM&T

    

Total

  
                         

Wealth management and trust services

   $ —     $ 42,843     $ 42,843  

Deposit service charges

     8,906       —       8,906  

Debit and credit card income

     20,082       —       20,082  

Treasury management fees

     11,064       —       11,064  

Mortgage banking income (1)

     3,858       —       3,858  

Gain (loss) on sale of securities (1)

     —       —       —  

Net investment product sales commissions and fees

     3,571       —       3,571  

Bank owned life insurance (1)

     2,443       —       2,443  

Gain (loss) on sale of premises and equipment (1)

     (100 )     —       (100 )

Other (2)

     2,563       —       2,563  

Total non-interest income

   $ 52,387     $ 42,843     $ 95,230  

 

   

Year Ended December 31, 2023

  
                         

(in thousands)

  

Commercial

    

WM&T

    

Total

  
                         

Wealth management and trust services

   $ —     $ 39,802     $ 39,802  

Deposit service charges

     8,866       —       8,866  

Debit and credit card income

     19,438       —       19,438  

Treasury management fees

     10,033       —       10,033  

Mortgage banking income (1)

     3,705       —       3,705  

Gain (loss) on sale of securities (1)

     (44 )     —       (44 )

Net investment product sales commissions and fees

     3,205       —       3,205  

Bank owned life insurance (1)

     2,253       —       2,253  

Gain (loss) on sale of premises and equipment (1)

     (30 )     —       (30 )

Other (2)

     4,992       —       4,992  

Total non-interest income

   $ 52,418     $ 39,802     $ 92,220  

 

(1) Outside of the scope of ASC 606.

(2) Outside of the scope of ASC 606, with the exception of safe deposit fees which were nominal for all periods.

 

Bancorp’s revenue on the consolidated statement of income is categorized by product type, which effectively depicts how the nature, timing and extent of cash flows are affected by economic factors. Revenue sources within the scope of ASC 606 are discussed below:

 

WM&T provides customers fiduciary and investment management services as agreed upon in asset management contracts. The contracts require WM&T to provide a series of distinct services for which fees are earned over time. The contracts are cancellable upon demand with fees typically based upon the asset value of investments. Revenue is accrued and recognized monthly based upon month-end asset values and collected from the customer predominately in the following month except for a small percentage of fees collected quarterly. Incentive compensation related to WM&T activities is considered a cost of obtaining the contract. Contracts between WM&T and customers do not permit performance-based fees and accordingly, none of the fee income earned by WM&T is performance-based. Trust fees receivable totaled $5.3 million and $4.5 million at December 31, 2025 and December 31, 2024, respectively.

 

Bancorp earns fees from its deposit customers for transaction-based, account management and overdraft services. Transaction-based fees, which include services such as ATM use fees, stop payments fees and ACH fees, are recognized at the time the transaction is executed, as that is when the company fulfills the performance obligation. Account management fees are earned over the course of a month and charged in the month in which the services are provided.

 

Debit and credit card revenue primarily consists of debit and credit card interchange income. Interchange income represents fees assessed within the payment card system for acceptance of card-based transactions. Interchange fees are assessed as the performance obligation is satisfied, which is at the point in time the card transaction is authorized. Revenue is collected and recognized daily through the payment network settlement process.

 

Treasury management transaction fees are recognized at the time the transaction is executed, as that is when the company fulfills the performance obligation. Account analysis fees are earned over the course of a month and charged in the month in which the services are provided. Treasury management fees are withdrawn from customers’ account balances.

 

Net investment products sales commissions and fees represent the Bank’s share of transaction fees and wrap fees resulting from investment services and programs provided through an agent relationship with a third party broker-dealer. Transaction fees are assessed at the time of the transaction. Those fees are collected and recognized on a monthly basis. Trailing fees are based upon market values and are assessed, collected and recognized on a quarterly basis. Because the Bank acts as an agent in arranging the relationship between the customer and third party provider, and does not control the services rendered, investment product sales commissions and fees are reported net of related costs, including nominal incentive compensation, and trading activity charges of $1.2 million and $968,000 for the years ended December 31, 2025 and 2024.

 

Bancorp did not establish any contract assets or liabilities as a result of adopting ASC 606, nor were any recognized during the year ended December 31, 2025.
v3.25.4
Note 29 - Subsequent Event
 12 Months Ended
Dec. 31, 2025
Notes to Financial Statements  
Subsequent Events [Text Block]

(29) Subsequent Event

 

Effective January 27, 2026, Bancorp executed a definitive Share Purchase Agreement (“agreement”), pursuant to which Bancorp will acquire all of the outstanding stock of privately held Field & Main Bancorp, Inc. Field & Main Bancorp, Inc., headquartered in Henderson, Kentucky, is the holding company for Field & Main Bank, which operates 6 retail branches, including three in Henderson, Kentucky and one each in Lexington, Kentucky, Cynthiana, Kentucky and Evansville, Indiana, respectively.

 

Under the terms of the Agreement, the Company will acquire all outstanding stock in an all stock transaction, resulting in a total consideration to existing Field & Main Bancorp, Inc. shareholders of approximately $106 million based on estimates as of January 27, 2026.

 

Bancorp expects the acquisition to close during the second quarter of 2026, subject to receiving all required regulatory approvals and satisfaction or waiver of remaining closing conditions.  As of December 31, 2025, Field & Main Bancorp, Inc. had approximately $861 million in total assets, $652 million in loans and $781 million in deposits and $68 million in tangible common equity. Field & Main Bancorp, Inc. also maintains a WM&T Department with total AUM of approximately $800 million as of December 31, 2025. The combined franchise will have 81 branches at acquisition date and anticipates serving customers through a branch network of 81 locations. The combined franchise will serve customers through 81 branches with approximately $10.40 billion in total assets, $7.90 billion in gross loans, $8.60 billion in deposits and $8.40 billion in trust assets under management.

 
v3.25.4
Significant Accounting Policies (Policies)
 12 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
Consolidation, Policy [Policy Text Block]

Nature of Operations – Stock Yards Bancorp, Inc. (“Bancorp” or “the Company”) is a FHC headquartered in Louisville, Kentucky. The accompanying consolidated financial statements include the accounts of its wholly owned subsidiary, SYB (“the Bank”). Intercompany transactions and balances are eliminated in consolidation. The consolidated financial statements of Bancorp and its subsidiaries have been prepared in conformity with GAAP and adhere to predominant practices within the banking industry.

 

Established in 1904, SYB is a state-chartered non-member financial institution that provides services in Louisville, central, eastern and northern Kentucky, as well as the Indianapolis, Indiana and Cincinnati, Ohio metropolitan markets through 75 full service banking center locations.

 

Bancorp is divided into two reportable segments: Commercial Banking and WM&T:

 

Commercial Banking provides a full range of loan and deposit products to individual consumers and businesses in all its markets through retail lending, mortgage banking, deposit services, online banking, mobile banking, private banking, commercial lending, commercial real estate lending, leasing, treasury management services, merchant services, international banking, correspondent banking, credit card services and other banking services. The Bank also offers securities brokerage services via its banking center network through an arrangement with a third party broker-dealer in the Commercial Banking segment. 

 

WM&T provides investment management, financial & retirement planning and trust & estate services, as well as retirement plan management for businesses and corporations in all markets in which Bancorp operates. The magnitude of WM&T revenue distinguishes Bancorp from other community banks of similar asset size.

 

As a result of its acquisition of CB on March 7, 2022, Bancorp became the 100% successor owner of the following unconsolidated Delaware trust subsidiaries: Commonwealth Statutory Trust III, Commonwealth Statutory Trust IV and Commonwealth Statutory Trust V. The sole assets of the trust subsidiaries represent the proceeds of offerings loaned in exchange for subordinated debentures with similar terms to the TPS.

 

As a result of its acquisition of Kentucky Bancshares, Inc. on May 31, 2021, Bancorp became the 100% successor owner of a Nevada-based insurance captive taxed under Section 831(b) of the Internal Revenue Code. On April 10, 2023, the IRS issued a proposed regulation that would potentially classify section 831(b) captive activity as a, “listed transaction,” and possibly disallow the related tax benefits, both prospectively and retroactively. The regulation was finalized on January 10, 2025, clarifying what is considered a listed transaction or a transaction of interest. Based on the final regulations, there is no change in the status for the captive insurance structure in place previously, which Bancorp dissolved in 2023. The captive remains classified as a transaction of interest for the open tax years and there is no reserve for an uncertain tax position based on the final regulation.
Use of Estimates, Policy [Policy Text Block]

Use of Estimates – To prepare financial statements in conformity with GAAP, management must make estimates and assumptions that require difficult, complex or subjective judgments, some of which may relate to matters that are inherently uncertain. Estimates are susceptible to material changes as a result of changes in facts and circumstances. Facts and circumstances which could affect these judgments include, but are not limited to, changes in interest rates, changes in the performance of the economy and changes in the financial condition of borrowers.

 

Bancorp’s accounting policies are fundamental to understanding management’s discussion and analysis of our results of operations and financial condition. At December 31, 2025, the accounting policy considered the most critical in preparing Bancorp’s consolidated financial statements is the determination of the ACL for loans. A detailed explanation of how Bancorp determines the ACL for loans is provided within this footnote.
Business Combination [Policy Text Block]

Accounting for Business Acquisitions – Bancorp accounts for acquisitions in accordance with the acquisition method. The acquisition method requires: a) identification of the entity that obtains control of the acquiree; b) determination of the acquisition date; c) recognition and measurement of the identifiable assets acquired and liabilities assumed, and any non-controlling interest in the acquiree; and d) recognition and measurement of goodwill or bargain purchase gain.

 

Identifiable assets acquired, liabilities assumed, and any non-controlling interest in acquirees are generally recognized at their acquisition-date (“day-one”) fair values. The measurement period for day-one fair values begins on the acquisition date and ends at the earlier of: (a) the day management believes it has all the information necessary to determine day-one fair values; or (b) one year following the acquisition date. In many cases, the determination of day-one fair values requires management to make estimates about discount rates, future expected cash flows, market conditions and other future events that are highly complex and subjective in nature and subject to provisional period adjustments, which are retrospective adjustments to reflect new information existing at the acquisition date affecting day-one fair values. More specifically, these provisional period adjustments may be made, as market value data, such as valuations, are received by the Bank. Increases or decreases to day-one fair values are reflected with a corresponding increase or decrease to bargain purchase gain or goodwill.

 

Acquisition related costs are expensed as incurred unless those costs are related to issuing debt or equity securities used to finance the acquisition.
Cash and Cash Equivalents, Policy [Policy Text Block] Cash and Cash Equivalents – Cash and cash equivalents include cash and due from banks, FFS and interest bearing due from banks as segregated in the accompanying consolidated balance sheets.
Financing Receivable, Held-for-Sale [Policy Text Block]

Mortgage Loans Held for Sale and Mortgage Banking Activities – Mortgages originated and intended for sale in the secondary market are carried at fair value, as determined by outstanding commitments from investors. Net gains on mortgage loans held for sale are recorded as a component of Mortgage banking income and represent the difference between the selling price and the carrying value of the loans sold. Substantially all of the gains or losses on the sale of loans are reported in earnings when the interest rates on loans are locked. Bancorp has elected the fair value option for mortgage loans held for sale. These loans are intended for sale and management believes that fair value is the best indicator of the resolution of these loans. For loans for which the fair value option has been elected, the Company amortizes premiums and discounts over the life of the loan and any origination fees or costs are recognized as incurred.

 

Commitments to fund mortgage loans (“interest rate lock commitments”) to be sold into the secondary market and non-exchange traded mandatory forward sales contracts (“forward contracts”) for the future delivery of these mortgage loans or the purchase of TBA securities are accounted for as free-standing derivatives. Fair values of these mortgage derivatives are estimated based on changes in mortgage interest rates from the date the Bank enters into the derivative. Generally, the Bank enters into forward contracts for the future delivery of mortgage loans or the purchase of TBA securities when interest rate lock commitments are entered into in order to hedge the change in interest rates resulting from its commitments to fund the loans. Changes in the fair values of these mortgage derivatives are included in net gains on sales of loans, which is a component of mortgage banking income on the income statement.

 

Mortgage loans held for sale are generally sold with the MSRs retained. When mortgage loans are sold with servicing retained, they are reported at the lower of amortized cost or fair value. Servicing rights are initially recorded at fair value with the income statement effect recorded as component of mortgage banking income. Fair value is based on the market prices for comparable mortgage servicing contracts when available, or alternatively, is based on a valuation model that calculates the present value of estimated future net servicing income. All classes of servicing assets are subsequently measured using the amortization method, which requires servicing rights to be amortized into mortgage banking income in proportion to, and over the period of, the estimated future net servicing income of the underlying loans. Amortization of MSRs are initially set at seven years and are periodically adjusted based on the weighted average remaining life of the underlying loans.

 

A primary factor influencing the MSR fair value is the estimated life of the underlying serviced loans. The estimated life of the serviced loans is significantly influenced by market interest rates. During a period of declining interest rates, the fair value of the MSRs generally decline due to higher expected prepayments within the portfolio. Alternatively, during a period of rising interest rates, the fair value of MSRs generally will increase, as prepayments on the underlying loans would be expected to decline.

 

Loan servicing income is reported on the income statement as a component of Mortgage banking income. Loan servicing income is recorded as loan payments are collected and includes servicing fees from investors and certain charges collected from borrowers. The fees are based on a contractual percentage of the outstanding principal, or a fixed amount per loan, and are recorded as income when earned. Late fees and ancillary fees related to loan servicing are considered nominal.
Investment, Policy [Policy Text Block]

Debt Securities – Bancorp determines the classification of debt securities at the time of purchase. Debt securities that management has the positive intent and ability to hold to maturity are classified as held to maturity and recorded at amortized cost. Debt securities not classified as held to maturity are classified as AFS and recorded at fair value, with unrealized gains and losses excluded from earnings and reported in AOCI, net of tax.

 

Gains and losses on the sale of securities are recorded on the trade date and are determined using the specific-identification method. Amortization of premiums and discounts are recognized in interest income over the period to maturity using the interest method, except for premiums on callable debt securities, which are amortized to their earliest call date.

 

Bancorp has made a policy election to exclude accrued interest from the amortized cost basis of debt securities and reports accrued interest separately in the consolidated balance sheets. A debt security is placed on non-accrual status at the time any principal or interest payments become more than 90 days delinquent or if full collection of interest or principal becomes uncertain. Accrued interest for a security placed on non-accrual is reversed against interest income. There was no accrued interest related to AFS debt securities reversed against interest income for the years ended December 31, 2025 and 2024.

 

ACL – AFS Debt Securities – For AFS debt securities in an unrealized loss position, Bancorp evaluates the securities to determine whether the decline in the fair value below the amortized cost basis (impairment) is due to credit-related factors or non-credit related factors. Any impairment that is not credit-related is recognized in AOCI, net of tax. Credit-related impairment is recognized as an ACL for AFS debt securities on the balance sheet, limited to the amount by which the amortized cost basis exceeds the fair value, with a corresponding adjustment to earnings. Accrued interest receivable on AFS debt securities is excluded from the estimate of credit losses. Both the ACL for AFS debt securities and the adjustment to net income may be reversed if conditions change. However, if Bancorp intends to sell an impaired AFS debt security or more likely than not will be required to sell such a security before recovering its amortized cost basis, the entire impairment amount would be recognized in earnings with a corresponding adjustment to the security’s amortized cost basis. Because the security’s amortized cost basis is adjusted to fair value, there is no ACL for AFS debt securities in this situation.

 

In evaluating AFS debt securities in unrealized loss positions for impairment and the criteria regarding its intent or requirement to sell such securities, Bancorp considers the extent to which fair value is less than amortized cost, whether the securities are issued by the federal government, its agencies or its sponsored enterprises, whether downgrades by bond rating agencies have occurred, and the results of reviews of the issuers’ financial condition, among other factors. There were no credit related factors underlying unrealized losses on AFS debt securities at December 31, 2025 and December 31, 2024, therefore, no ACL for AFS securities was recorded.

 

Changes in the ACL for AFS debt securities are recorded as expense. Losses are charged against the ACL for AFS debt securities when management believes the uncollectability of an AFS debt security is confirmed or when either of the criteria regarding intent or requirement to sell is met.

 

ACL – HTM Debt Securities – Bancorp measures expected credit losses on HTM debt securities on a collective basis by major security type. Accrued interest receivable on HTM debt securities is excluded from the ACL on HTM securities. The estimate of the ACL for HTM securities considers historical credit loss information that is adjusted for current conditions and reasonable and supportable forecasts. As of both December 31, 2025 and December 31, 2024, no ACL for HTM securities was recorded.
Federal Home Loan Bank Stock [Policy Text Block] FHLB Stock – Bancorp is a member institution of the FHLB. Members are required to own a certain amount of stock based on the level of borrowings and other factors and may invest in additional amounts of stock. FHLB stock is carried at cost, classified as a restricted security and annually evaluated for impairment. Because this stock is viewed as a long-term investment, impairment is based on ultimate recovery of par value. Both cash and stock dividends are recorded as interest income.
Financing Receivable [Policy Text Block]

Loans – Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are reported at amortized cost basis, which is the unpaid principal balance outstanding, net of unearned income, deferred loan fees and costs, premiums and discounts associated with acquisition date fair value adjustments on acquired loans and any direct partial charge-offs. Bancorp has made a policy election to exclude accrued interest from the amortized cost basis of loans and report accrued interest separately from the related loan balance in the consolidated balance sheets.

 

Interest income is accrued on the unpaid principal balance. Loan origination fees, net of certain direct origination costs, are deferred and recognized in interest income over the life of the loan without anticipating prepayments.

 

Loans are considered past due or delinquent when the contractual principal and/or interest due in accordance with the terms of the loan agreement or any portion thereof remains unpaid after the due date of the scheduled payment. The accrual of interest income on loans is typically discontinued at the time the loan is 90 days delinquent unless the loan is well-secured and in process of collection, or if full collection of interest or principal becomes doubtful. Consumer loans are typically charged off no later than 120 days past due. All interest accrued but not received for a loan placed on non-accrual is reversed against interest income. Interest received on such loans is accounted for on the cash-basis or cost-recovery method, until qualifying for return to accrual. Under the cost-recovery method, interest income is not recognized until the loan balance is reduced to zero. Under the cash-basis method, interest income is recorded when the payment is received in cash. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured.

 

Acquired loans are recorded at fair value at the date of acquisition based on a DCF methodology that considers various factors including the type of loan and related collateral, classification status, fixed or variable interest rate, term of loan and whether or not the loan was amortizing, and a discount rate reflecting Bancorp’s assessment of risk inherent in the cash flow estimates. Certain larger purchased loans are individually evaluated while certain purchased loans are grouped together according to similar risk characteristics and are treated in aggregate when applying various valuation techniques. These cash flow evaluations are inherently subjective, as they require material estimates, all of which may be susceptible to significant change.

 

Loans acquired in a business combination that have experienced more-than-insignificant deterioration in credit quality since origination are considered PCD loans. At the acquisition date, an estimate of expected credit losses is made for groups of PCD loans with similar risk characteristics and individual PCD loans without similar risk characteristics. This initial ACL is allocated to individual PCD loans and added to the purchase price or acquisition date fair values to establish the initial amortized cost basis of the PCD loans. As the initial ACL is added to the purchase price, there is no credit loss expense recognized upon acquisition of a PCD loan. Any difference between the unpaid principal balance of PCD loans and the amortized cost basis is considered to relate to non-credit factors and results in a discount or premium. Discounts and premiums are recognized through interest income on a level-yield method over the life of the loans.

 

Acquired loans are determined by Bancorp to have more-than-insignificant deterioration in credit quality since origination if any of the following designations apply, listed in order of priority as follows: Loans individually analyzed by Bancorp and determined to have a collateral or cash flow deficiency resulting in a full or partial allocation for loss, loans placed on non-accrual status by the acquired institution, loans identified as modifications to borrowers experiencing financial difficulty by the acquired institution, loans that have received a partial charge off by the acquired institution, loans risk-rated below a “pass” grade by the acquired institution and any loans past due 59 days or more at the time of acquisition.

 

For acquired loans not deemed PCD at acquisition, the differences between the initial fair value and the unpaid principal balance are recognized as interest income over the lives of the related loans. For non-PCD loans, an initial ACL on loans is estimated and recorded as credit loss expense at the acquisition date.

 

The subsequent measurement of expected credit losses for all acquired loans is the same as the subsequent measurement of expected credit losses for originated loans.

 

ACL – Loans – Under the CECL model, the ACL on loans represents a valuation allowance estimated at each balance sheet date that is deducted from the loans’ amortized cost basis to represent the net amount expected to be collected on the loan portfolio.

 

Bancorp estimates the ACL on loans based on the underlying assets’ amortized cost basis, which is the amount at which the receivable is originated or acquired, adjusted for applicable accretion or amortization of premium, discount, and net deferred fees or costs, collection of payment, and partial charge-offs. In the event that collection of principal becomes uncertain, Bancorp has policies in place to reverse accrued interest in a timely manner. Therefore, Bancorp has made a policy election to exclude accrued interest from the measurement of the ACL on loans.

 

Expected credit losses are reflected in the ACL on loans through a charge to provision for credit losses on loans. When Bancorp deems all or a portion of a financial asset to be uncollectible, the appropriate amount is written-off and the ACL on loans is reduced by the same amount. Bancorp applies judgment to determine when a financial asset is deemed uncollectible; however, generally speaking, an asset will be considered uncollectible no later than when all efforts of collection have been exhausted and the collateral, if any, has been liquidated. Subsequent recoveries, if any, are credited to the ACL on loans when received.

 

Bancorp’s methodologies for estimating the ACL on loans consider available relevant information about the collectability of cash flows, including information about past events, current conditions and reasonable and supportable forecasts. The methodologies apply historical loss information, adjusted for asset-specific characteristics, economic conditions at the measurement date, and forecasts about future economic conditions expected to exist through the contractual lives of the financial assets that are reasonable and supportable to the identified pools of financial assets with similar risk characteristics for which the historical loss experience was observed. Bancorp’s methodologies may revert to historical loss information on a straight-line basis over a number of quarters when it can no longer develop reasonable and supportable forecasts.

 

Loans are predominantly segmented into loan pools that have similar risk characteristics, similar collateral types and are assumed to pose consistent risk of loss to Bancorp. Bancorp has identified the following pools of financial assets with similar risk characteristics for measuring expected credit losses:

 

Commercial Real Estate – Non-Owner Occupied – Includes investment real estate loans secured by a variety of commercial property types and purposes. The primary source of income for this loan type is typically rental income associated with the property. This category also includes apartment or multifamily residential buildings (secured by five or more dwelling units).

 

Commercial Real Estate – Owner Occupied – Includes non-farm, non-residential real estate loans for a variety of commercial property types and purposes, and is typically secured by commercial offices, industrial buildings, warehouses or retail buildings where the owner of the building occupies the property. The primary source of repayment is the cash flow from the ongoing operations and activities conducted by the party (or affiliate) who owns the property. Repayment terms vary considerably; interest rates are fixed or variable and structured for full or partial amortization of principal.

 

Commercial and Industrial – Represents loans for C&I purposes to sole proprietorships, partnerships, corporations and other business enterprises, whether secured (other than those that meet the definition of a “loan secured by real estate”) or unsecured, single payment or installment. This category includes loans originated for financing capital expenditures, loans secured by accounts receivable, inventory and other business assets such as equipment, non-real estate related construction loans in addition to non-real estate loans guaranteed by the SBA. Bancorp originates these loans for a variety of purposes across various industries. This portfolio has been segregated between term loans and revolving lines of credits based on the varied characteristics of these individual loan structures.

 

Residential Real Estate – Includes non-revolving (closed-end) first and junior lien loans secured by residential real estate primarily in Bancorp’s market areas. This portfolio has been segregated between owner occupied and non-owner occupied status, as the investment nature of the latter poses additional credit risks to Bancorp.

 

Construction and Land Development – Consists of loans to finance the ground up construction or improvement of owner occupied and non-owner occupied residential and commercial properties and loans secured by raw or improved land. The repayment of C&D loans is generally dependent upon the successful completion of the improvements by the builder for the end user, the leasing of the property, or sale of the property to a third party. Repayment of land secured loans is dependent upon the successful development and sale of the property, the sale of the land as is, or the outside cash flow of the owners to support the retirement of the debt. Bancorp’s construction loans may convert to real estate-secured loans once construction is completed or principal amortization payments begin, assuming the borrower retains financing with the Bank.

 

Home Equity Lines of Credit – Similar to residential real estate above, however these are revolving (open-ended) lines of credit.

 

Consumer – Represents loans to individuals for personal expenditures that may be secured or unsecured. This includes pre-arranged overdraft plans, secured automobile loans and other consumer-purpose loans.

 

Leases – Represents a variety of equipment leasing options to businesses.

 

Credit Cards – Represents revolving short-term loans to businesses and, to a lesser extent, consumers.

 

Bancorp measures expected credit losses for its loan portfolio segments as follows:

 

Loan Portfolio Segment

  

ACL Methodology
     

Commercial real estate - non-owner occupied

  

Discounted cash flow

Commercial real estate - owner occupied

  

Discounted cash flow

Commercial and industrial - term

  

Static pool

Commercial and industrial - line of credit

  

Static pool

Residential real estate - owner occupied

  

Discounted cash flow

Residential real estate - non-owner occupied

  

Discounted cash flow

Construction and land development

  

Static pool

Home equity lines of credit

  

Static pool

Consumer

  

Static pool

Leases

  

Static pool

Credit cards

  

Static pool

 

Discounted Cash flow Method – The DCF methodology is used to develop cash flow projections at the instrument level wherein payment expectations are adjusted for estimated prepayment speeds, curtailments, time to recovery, probability of default and loss given default. The modeling of expected prepayment speeds, curtailment rates and time to recovery are based on historical internal data.

 

Bancorp uses regression analysis on historical internal and peer data to determine suitable loss drivers to utilize when modeling lifetime probability of default and loss given default. This analysis also determines how expected probability of default and loss given default will react to forecasted levels of the loss drivers. For all loan pools utilizing the DCF method, management utilizes a forecasted unemployment rate as its primary loss driver, as this was determined to best correlate to historical losses. Management has determined that four quarters represents a reasonable and supportable forecast period with reversion back to a historical loss rate over four quarters on a straight-line basis.

 

The combination of adjustments for credit expectations (default and loss) and timing expectations (prepayment, curtailment, and time to recovery) produces an expected cash flow stream at the instrument level. Instrument effective yield is calculated, net of the impacts of prepayment assumptions, and the instrument expected cash flows are then discounted at that effective yield to produce an instrument-level NPV of expected cash flows. An ACL is established for the difference between the instrument’s NPV and amortized cost basis.

 

Static Pool Method – The static pool methodology is utilized for the loan portfolio segments that typically have shorter durations. For each of these loan segments, Bancorp applies an expected loss ratio based on historical losses adjusted as appropriate for qualitative loss factors. Qualitative loss factors are based on management's judgment of Company, market, industry or business specific data, changes in underlying loan composition of specific portfolios, trends relating to credit quality, delinquency, non-performing and adversely rated loans and reasonable and supportable forecasts of economic conditions.

 

Collateral Dependent Loans – Loans that do not share risk characteristics are evaluated on an individual basis. For collateral dependent loans where Bancorp has determined that the liquidation or foreclosure of the collateral is probable, or where the borrower is experiencing financial difficulty and Bancorp expects repayment of the financial asset to be provided substantially through the operation of the business or sale of the collateral, the ACL is measured based on the difference between the estimated fair value of the collateral and the amortized cost basis of the asset as of the measurement date. When repayment is expected to be from the operation of the collateral, expected credit losses are calculated as the amount by which the amortized cost basis of the financial asset exceeds the NPV of expected cash flows from the operation of the collateral. When repayment is expected to be generated by the sale of the collateral, expected credit losses are calculated as the amount by which the amortized cost basis of the financial asset exceeds the fair value of the underlying collateral, less estimated cost to sell. The ACL may be zero if the fair value of the collateral at the measurement date exceeds the amortized cost basis of loan. Bancorp’s estimate of the ACL reflects losses expected over the remaining contractual life of the loan and the contractual term does not consider extensions, renewals or modifications.
Property, Plant and Equipment, Policy [Policy Text Block]

Premises and Equipment – Premises and equipment are carried at cost, less accumulated depreciation and amortization. Depreciation of premises and equipment is computed using straight-line methods over the estimated useful lives of the assets ranging from three to 40 years. Leasehold improvements are amortized on the straight-line method over terms of the related leases, including expected renewals, or over the useful lives of the improvements, whichever is shorter. Maintenance and repairs are expensed as incurred while major additions and improvements are capitalized.

 

Premises held for sale are carried at the lower of fair value or cost, less accumulated depreciation and amortization. Premises held for sale represent properties owned by Bancorp that are currently listed for sale due mainly to location overlap and/or lack of necessity stemming from acquisition-related activity.
Goodwill and Intangible Assets, Policy [Policy Text Block]

Goodwill and Other Intangible Assets – Goodwill resulting from business acquisitions represents the excess of the fair value of the consideration transferred, plus the fair value of any non-controlling interests in the acquiree, over the fair value of the net assets assumed as of the acquisition date. Goodwill and intangible assets acquired in a purchase business combination and determined to have an indefinite useful life are not amortized, but tested annually for impairment or more frequently if events and circumstances exist that indicate a goodwill impairment test should be performed.

 

In 2025, Bancorp changed its goodwill impairment testing date from September 30 to October 1. The change was applied prospectively and was not material to the Company’s consolidated financial statements, as it did not delay, accelerate or avoid an impairment charge. Intangible assets with definite useful lives are amortized over their estimated useful lives to their estimated residual values. Goodwill is the only intangible asset with an indefinite life on Bancorp’s balance sheet.

 

Based on its assessment, Bancorp believes its goodwill balances at December 31, 2025 and December 31, 2024 were not impaired and are properly recorded in the consolidated financial statements.

 

Other intangible assets consist of CDI and CLI assets arising from business acquisitions. The CDI and CLI assets represent customer relationships associated with acquired deposit portfolios and WM&T businesses, respectively. CDI and CLI assets are initially measured at fair value and then amortized on an accelerated method over their estimated useful lives.
Other Assets [Policy Text Block]

Other Assets – BOLI and other life insurance policies are carried at cash surrender value, which considers applicable surrender charges. Also, Bancorp maintains life insurance policies in conjunction with its non-qualified defined benefit and non-qualified compensation plans.

 

OREO is initially recorded at fair value, less estimated costs to sell, establishing a new cost basis for the asset. OREO is subsequently carried at the lower of cost or estimated fair value minus estimated selling costs. In certain situations, improvements to prepare assets for sale are capitalized if those costs increase the estimated fair value of the asset. Expenses incurred in maintaining assets, write downs to reflect subsequent declines in value, and realized gains or losses are reflected in the results of operations and are included in non-interest income and/or expense.

 

Bancorp periodically invests in certain partnerships that generate federal income tax credits. The tax benefit of these investments exceeds the amortization expense associated with them, resulting in a positive impact on net income. In addition to income tax benefits, these investments also serve as an economical means of achieving CRA goals. The investments in such partnerships are recorded in other assets on the consolidated balance sheets, while the corresponding contribution requirements are recorded in other liabilities. While contributions are made periodically over the life of the respective investments, which can be up to 10 years depending on the type of investment, the majority of contributions associated with a respective investment are made within the first few years after entering the partnership.

 

Effective January 1, 2024, Bancorp adopted ASU 2023-02, “Investments – Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method.” As a result, all of Bancorp’s investments in tax credit partnerships are now accounted for under the proportional amortization method, with related amortization expense recorded within income tax expense on the condensed consolidated income statements. Prior to 2024, Bancorp used both the effective yield and the proportional amortization methods to account for these investments, with related amortization expense recorded as a component of non-interest expenses on the condensed consolidated income statements. The adoption of this ASU resulted in a one-time $2.5 million increase in retained earnings, which was recorded at the date of adoption.
Off-Balance-Sheet Credit Exposure, Policy [Policy Text Block]

Off-Balance Sheet Credit Exposures – Financial instruments include off-balance sheet credit instruments, such as commitments to originate loans, commitments to fund existing loans and commercial letters of credit issued to meet customer-financing needs. Off-balance sheet refers to assets or liabilities that do not appear on a company's balance sheet. Bancorp’s exposure to credit loss in the event of non-performance by the other party to the financial instrument for off-balance sheet loan commitments is represented by the contractual amount of those instruments. Such financial instruments are recorded when they are funded.

 

Bancorp records an ACL for off-balance sheet credit exposures, unless the commitments to extend credit are unconditionally cancelable, through a charge to credit loss expense for off-balance sheet credit exposures included in provision for credit losses on Bancorp’s consolidated statements of income. The ACL for off-balance sheet credit exposures is estimated by loan portfolio segment at each balance sheet date under the current CECL model using the same methodologies as portfolio loans, taking into consideration the likelihood that funding will occur and is included in other liabilities on Bancorp’s consolidated balance sheets.
Derivatives, Policy [Policy Text Block]

Derivatives – Bancorp uses derivative financial instruments, including interest rate swaps, as part of its interest rate risk management. Bancorp’s interest rate swaps are recognized as other assets and liabilities in the consolidated balance sheet at fair value. Accounting for changes in fair value of derivatives depends on the intended use of the derivative and the resulting designation. Derivatives used to hedge exposure to variability in expected future cash flows, or other types of forecasted transactions, are designated as cash flow hedges.

 

For derivatives designated as cash flow hedges, changes in fair value of the derivative are initially reported in OCI and subsequently reclassified to interest income or expense when the hedged transaction affects earnings. No component of the change in the fair value of the hedging instrument is excluded from the assessment of hedge effectiveness.

 

Periodically, Bancorp enters into an interest rate swap transaction with a borrower, who desires to hedge exposure to rising interest rates, while at the same time entering into an offsetting interest rate swap, with substantially matching terms, with another approved independent counterparty. Because of matching terms of offsetting contracts and collateral provisions mitigating any non-performance risk, changes in fair value subsequent to initial recognition have an insignificant effect on earnings. Because these derivative instruments have not been designated as hedging instruments, the derivative instruments are recognized on the consolidated balance sheet at fair value, with changes in fair value, due to changes in prevailing interest rates, recorded in other noninterest income.

 

Bancorp manages certain credit exposure from its derivative transactions by entering into master netting agreements. The relevant agreements allow for efficient closeout of transactions, liquidation and setoff of collateral against the net amount owed by the counterparty in the event of default. In connection with its derivative transactions, Bancorp may receive or pledge cash collateral with its counterparties to satisfy initial, maintenance and/or variation margin requirements. Variation margin is accounted for as collateral. Bancorp has made a policy election to present its derivative positions at fair value on a net basis when a right of offset exists, based on transactions with a single counterparty for derivative contracts that are subject to legally enforceable master netting agreements.

 

Bancorp had no fair value hedging relationships at December 31, 2025 and December 31, 2024. Bancorp does not use derivatives for trading or speculative purposes. See the footnote titled “Derivative Financial Instruments” for additional discussion.
Transfers and Servicing of Financial Assets, Policy [Policy Text Block] Transfers of Financial Assets – Transfers of financial assets are accounted for as sales when control over the assets has been relinquished. Control over transferred assets is deemed to be surrendered when the assets have been isolated from Bancorp, the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets and Bancorp does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity. If the sale criteria are not met, the transfer is recorded as a secured borrowing in which the assets remain on the balance sheet and the proceeds from the transaction are recognized as a liability.
Share-Based Payment Arrangement [Policy Text Block] Stock-Based Compensation – For all awards, stock-based compensation expense is recognized over the period in which it is earned based on the grant-date fair value of the portion of stock-based payment awards that are ultimately expected to vest, reduced for estimated forfeitures at the time of grant. Forfeitures are estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates.
Income Tax, Policy [Policy Text Block]

Income Taxes – Income tax expense is the total of the current year income tax due or refundable and the change in DTAs and DTLs. DTAs and DTLs are the expected future tax amounts for the temporary differences between carrying amounts and tax bases of assets and liabilities, computed using enacted statutory tax rates. A valuation allowance, if needed, reduces DTAs to the amount expected to be realized.

 

A tax position is recognized as a benefit only if it is “more-likely-than-not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized upon examination. For tax positions not meeting the “more-likely-than-not” test, no tax benefit is recorded.

 

Bancorp recognizes interest and/or penalties related to income tax matters in income tax expense, if any.

 

Bancorp periodically invests in certain partnerships with customers that yield historic tax credits. The tax benefit of these investments exceeds the amortization expense associated with them, resulting in a positive impact on net income. Effective January 1, 2024, Bancorp adopted ASU 2023-02, “Investments – Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method.” As a result, all of Bancorp’s investments in tax credit partnerships are now accounted for under the proportional amortization method, with related amortization expense recorded within income tax expense on the condensed consolidated income statements. Prior to 2024, Bancorp used both the effective yield and the proportional amortization methods to account for these investments, with related amortization expense recorded as a component of non-interest expenses on the condensed consolidated income statements.
Earnings Per Share, Policy [Policy Text Block] Net Income Per Share – Basic net income per common share is determined by dividing net income by the weighted average number of shares of common stock outstanding. Diluted net income per share is determined by dividing net income by the weighted average number of shares of common stock outstanding plus the weighted average number of shares that would be issued upon exercise of dilutive options and SARs, assuming proceeds are used to repurchase shares under the treasury stock method.
Comprehensive Income, Policy [Policy Text Block]

Comprehensive Income (Loss) – Comprehensive income (loss) is defined as the change in equity (net assets) of a business enterprise during a period from transactions and other events and circumstances from outside of the Company’s control. For Bancorp, this includes net income, changes in unrealized gains and losses on AFS debt securities and cash flow hedging instruments, net of reclassification adjustments and taxes, and minimum pension liability adjustments, net of taxes.

 
Loss Contingency [Policy Text Block] Loss Contingencies – Loss contingencies, including claims and legal actions arising in the ordinary course of business, are recorded as liabilities when the likelihood of loss is probable, and an amount or range of loss can be reasonably estimated. Management does not believe there are any outstanding matters that would have a material effect on the financial statements.
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block] Restrictions on Cash and Cash Equivalents – Bancorp has historically been required by the FRB to maintain average reserve balances. Effective March 26, 2020, the FRB reduced the reserve requirement ratio to 0% in response to the COVID-19 pandemic, eliminating reserve requirements for all depository institutions. The reserve requirement ratio remained at 0% as of December 31, 2025.
Policyholders' Dividend [Policy Text Block] Dividend Restriction – Banking regulations require maintaining certain capital levels and may limit the dividends paid by the Bank to the Holding Company or by the Holding Company to shareholders.
Fair Value of Financial Instruments, Policy [Policy Text Block] Fair Value of Financial Instruments – Fair values of financial instruments are estimated using relevant market information and other assumptions, as disclosed in footnote titled “Assets and Liabilities Measured and Reported at Fair Value” in this section of the filing. Fair value estimates involve uncertainties and matters of significant judgment regarding interest rates, credit risk, prepayments, and other factors, especially in the absence of broad markets for particular items. Changes in assumptions or in market conditions could significantly affect such estimates.
Revenue [Policy Text Block] Revenue from Contracts with Customers – The majority of Bancorp’s revenue comes from interest income and other sources, including loans, leases, securities, and derivatives, which are not subject to ASC 606. Bancorp’s services that fall within the scope of ASC 606 are presented within non-interest income and are recognized as revenue as Bancorp satisfies its obligation to its customer. See the footnote titled “Revenue from Contracts with Customers” for additional discussion.
Segment Reporting, Policy [Policy Text Block]

Segment Information – Bancorp provides a broad range of financial services to individuals, corporations and others through its full service banking locations. These services include loan and deposit services, cash management services, securities brokerage activities, mortgage origination and WM&T activities. Bancorp’s operations are considered by management to be aggregated in two reportable operating segments: Commercial Banking and WM&T, as disclosed in footnote titled “Segments.”

 
New Accounting Pronouncements, Policy [Policy Text Block]

Adoption of New Accounting Guidance – On January 1, 2025, Bancorp adopted ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures,” on a prospective basis. The amendments in this update provide expanded disclosures relating to the effective tax rate reconciliation and information related to income taxes paid. The adoption of this ASU did not have a material impact on Bancorp’s consolidated financial statements.

 

Accounting Standards Updates – In November 2024, the FASB issued ASU 2024-03, “Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses.” This update requires disaggregated disclosure of income statement expenses for public business entities. New financial statement disclosures are required in tabular format, disaggregating information about prescribed categories underlying any relevant income statement expense caption. The prescribed categories include, among other things, employee compensation, depreciation, and intangible asset amortization. Additionally, entities must disclose the total amount of selling expenses and, in annual reporting periods, an entity’s definition of selling expenses. ASU 2024-03 is effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. Bancorp is evaluating the impact this ASU will have on our financial statements.

 

In November 2025, the FASB issued ASU 2025-08, “Financial Instruments – Credit Losses (Topic 326): Purchased Loans.” ASU 2025-08 expands the scope of the “gross up” method, formerly applicable only to PCD assets, to include acquired non-PCD loans that meet certain criteria, now referred to as “purchased seasoned loans,” (PSLs). Under this model, an allowance for expected credit losses is recognized at acquisition, offsetting the loan’s amortized cost basis, thereby eliminating the day-one credit-loss expense previously required for non-PCD assets. PSLs are defined as non-PCD loans acquired either (i) through a business combination, or (ii) purchased more than 90 days after origination, when the acquirer was not involved in origination. ASU 2025-08 is effective, on a prospective basis for loans acquired on or after the adoption date, for interim and annual periods beginning in 2027, though early adoption is permitted. Bancorp is evaluating the impact this ASU will have on our financial statements.
v3.25.4
Note 3 - Investment Securities (Tables)
 12 Months Ended
Dec. 31, 2025
Notes Tables  
Schedule of Available-for-Sale Securities Reconciliation [Table Text Block]

(in thousands)

  

Amortized

   

Unrealized

          
December 31, 2025   cost    

Gains

    

Losses

     Fair value  
                                 

Government sponsored enterprise obligations

   $ 75,459     $ 97     $ (2,737 )   $ 72,819  

Mortgage backed securities

     602,261       322       (67,576 )     535,007  

Obligations of states and political subdivisions

     123,083       10       (9,339 )     113,754  

Other

     568       -       (37 )     531  

Total available for sale debt securities

   $ 801,371     $ 429     $ (79,689 )   $ 722,111  
                                 

December 31, 2024

                                
                                 

U.S. Treasury and other U.S. Government obligations

   $ 198,182     $ 33     $ -     $ 198,215  

Government sponsored enterprise obligations

     88,895       110       (4,847 )     84,158  

Mortgage backed securities

     696,767       -       (105,790 )     590,977  

Obligations of states and political subdivisions

     128,431       1       (14,198 )     114,234  

Other

     2,686       -       (156 )     2,530  

Total available for sale debt securities

   $ 1,114,961     $ 144     $ (124,991 )   $ 990,114  
Debt Securities, Held-to-Maturity [Table Text Block]

(in thousands)

  

Carrying

    

Unrecognized

          
December 31, 2025   value    

Gains

    

Losses

     Fair value  
                                 

U.S. Treasury and other U.S. Government obligations

   $ 1,994     $ -     $ (12 )   $ 1,982  

Government sponsored enterprise obligations

     22,957       -       (1,112 )     21,845  

Mortgage backed securities

     173,995       5       (16,624 )     157,376  

Total held to maturity debt securities

   $ 198,946     $ 5     $ (17,748 )   $ 181,203  
                                 

December 31, 2024

                                

U.S. Treasury and other U.S. Government obligations

   $ 153,850     $ -     $ (741 )   $ 153,109  

Government sponsored enterprise obligations

     25,395       -       (2,034 )     23,361  

Mortgage backed securities

     190,926       2       (26,041 )     164,887  

Total held to maturity debt securities

   $ 370,171     $ 2     $ (28,816 )   $ 341,357  
Investments Classified by Contractual Maturity Date [Table Text Block]
   

AFS Debt Securities

    

HTM Debt Securities

  

(in thousands)

  

Amortized cost

    

Fair value

    

Carrying value

    

Fair value

  
                                 

Due within one year

   $ 9,972     $ 9,926     $ 2,691     $ 2,675  

Due after one year but within five years

     33,386       32,533       213       212  

Due after five years but within 10 years

     93,880       85,256       21,661       20,560  

Due after 10 years

     61,872       59,389       386       380  

Mortgage backed securities

     602,261       535,007       173,995       157,376  

Total

   $ 801,371     $ 722,111     $ 198,946     $ 181,203  
Schedule of Unrealized Losses on Securities [Table Text Block]
   

AFS Debt Securities

  
   

Less than 12 months

    

12 months or more

    

Total

  

(in thousands)

  

Fair

    

Unrealized

    

Fair

    

Unrealized

    

Fair

    

Unrealized

  

December 31, 2025

  

value

    

losses

    

value

    

losses

    

value

    

losses

  
                                                 

Government sponsored enterprise obligations

   $ -     $ -     $ 69,880     $ (2,737 )   $ 69,880     $ (2,737 )

Mortgage backed securities

     -       -       507,041       (67,576 )     507,041       (67,576 )

Obligations of states and political subdivisions

     1,446       (4 )     91,609       (9,335 )     93,055       (9,339 )

Other

     -       -       531       (37 )     531       (37 )

Total AFS debt securities

   $ 1,446     $ (4 )   $ 669,061     $ (79,685 )   $ 670,507     $ (79,689 )
                                                 

December 31, 2024

                                                
                                                 

Government sponsored enterprise obligations

   $ 5,801     $ (49 )   $ 74,478     $ (4,798 )   $ 80,279     $ (4,847 )

Mortgage backed securities

     23,159       (579 )     567,818       (105,211 )     590,977       (105,790 )

Obligations of states and political subdivisions

     9,181       (164 )     101,407       (14,034 )     110,588       (14,198 )

Other

     -       -       2,530       (156 )     2,530       (156 )

Total AFS debt securities

   $ 38,141     $ (792 )   $ 746,233     $ (124,199 )   $ 784,374     $ (124,991 )
   

HTM Debt Securities

  
   

Less than 12 months

    

12 months or more

    

Total

  

(in thousands)

  

Fair

    

Unrecognized

    

Fair

    

Unrecognized

    

Fair

    

Unrecognized

  

December 31, 2025

  

value

    

losses

    

value

    

losses

    

value

    

losses

  
                                                 

U.S. Treasury and other U.S. Government obligations

 

   $ -     $ -     $ 1,982     $ (12 )   $ 1,982     $ (12 )

Government sponsored enterprise obligations

     -       -       21,649       (1,112 )     21,649       (1,112 )

Mortgage backed securities

     -       -       156,877       (16,624 )     156,877       (16,624 )

Total HTM debt securities

   $ -     $ -     $ 180,508     $ (17,748 )   $ 180,508     $ (17,748 )
                                                 

December 31, 2024

                                                
                                                 

U.S. Treasury and other U.S. Government obligations

   $ -     $ -     $ 153,109     $ (741 )   $ 153,109     $ (741 )

Government sponsored enterprise obligations

     396       (6 )     22,965       (2,028 )     23,361       (2,034 )

Mortgage backed securities

     -       -       164,724       (26,041 )     164,724       (26,041 )

Total HTM debt securities

   $ 396     $ (6 )   $ 340,798     $ (28,810 )   $ 341,194     $ (28,816 )
v3.25.4
Note 4 - Loans and ACL on Loans (Tables)
 12 Months Ended
Dec. 31, 2025
Notes Tables  
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]

December 31, (in thousands)

  

2025

    

2024

  
                 

Commercial real estate - non-owner occupied

   $ 1,915,252     $ 1,835,935  

Commercial real estate - owner occupied

     1,121,896       1,002,853  

Total commercial real estate

     3,037,148       2,838,788  
                 

Commercial and industrial - term

     897,576       884,399  

Commercial and industrial - lines of credit

     611,913       554,255  

Total commercial and industrial

     1,509,489       1,438,654  
                 

Residential real estate - owner occupied

     881,865       805,080  

Residential real estate - non-owner occupied

     391,216       382,744  

Total residential real estate

     1,273,081       1,187,824  
                 

Construction and land development

     751,897       623,005  

Home equity lines of credit

     285,115       247,433  

Consumer

     142,425       144,644  

Leases

     16,912       15,514  

Credit cards

     25,243       24,540  

Total loans (1)

   $ 7,041,310     $ 6,520,402  
Schedule of Loans and Leases Receivable, Related Parties [Table Text Block]

Years ended December 31, (in thousands)

  

2025

     2024  

Balance at beginning of period

   $ 97,103     $ 62,412  

Effect of change in composition of related interests

     16,484       22,111  

New term loans

     -       16,255  

Repayment of term loans

     (8,541 )     (10,612 )

Changes in balances of revolving lines of credit

     (1,384 )     6,937  

Balance at end of period

   $ 103,662     $ 97,103  
Financing Receivable, Allowance for Credit Loss [Table Text Block]
(in thousands)

Year ended December 31, 2025

   Beginning

Balance

    

Provision for

Credit Losses

on Loans

    

Charge-offs

    

Recoveries

    

Ending

Balance

  
                                         

Commercial real estate - non-owner occupied

   $ 13,935     $ (181 )   $ -     $ 25     $ 13,779  

Commercial real estate - owner occupied

     10,192       3,028       (137 )     17       13,100  

Total commercial real estate

     24,127       2,847       (137 )     42       26,879  
                                         

Commercial and industrial - term

     21,284       (1,173 )     (738 )     1,748       21,121  

Commercial and industrial - lines of credit

     6,496       1,114       (287 )     -       7,323  

Total commercial and industrial

     27,780       (59 )     (1,025 )     1,748       28,444  
                                         

Residential real estate - owner occupied

     14,468       682       (308 )     72       14,914  

Residential real estate - non-owner occupied

     5,154       (713 )     (156 )     2       4,287  

Total residential real estate

     19,622       (31 )     (464 )     74       19,201  
                                         

Construction and land development

     10,981       1,335       -       -       12,316  

Home equity lines of credit

     1,277       171       (10 )     1       1,439  

Consumer

     2,531       1,007       (1,103 )     489       2,924  

Leases

     370       154       -       -       524  

Credit cards

     255       126       (303 )     62       140  

Total

   $ 86,943     $ 5,550     $ (3,042 )   $ 2,416     $ 91,867  
(in thousands)

Year ended December 31, 2024

  

Beginning

Balance

    

Provision for

Credit Losses

on Loans

    

Charge-offs

    

Recoveries

    

Ending

Balance

  
                                         

Commercial real estate - non-owner occupied

   $ 22,133     $ (8,217 )   $ -     $ 19     $ 13,935  

Commercial real estate - owner occupied

     11,667       (1,568 )     -       93       10,192  

Total commercial real estate

     33,800       (9,785 )     -       112       24,127  
                                         

Commercial and industrial - term

     14,359       7,264       (748 )     409       21,284  

Commercial and industrial - lines of credit

     6,495       90       (555 )     466       6,496  

Total commercial and industrial

     20,854       7,354       (1,303 )     875       27,780  
                                         

Residential real estate - owner occupied

     9,316       5,481       (356 )     27       14,468  

Residential real estate - non-owner occupied

     4,282       865       -       7       5,154  

Total residential real estate

     13,598       6,346       (356 )     34       19,622  
                                         

Construction and land development

     7,593       3,388       -       -       10,981  

Home equity lines of credit

     1,660       (283 )     (107 )     7       1,277  

Consumer

     1,407       1,424       (785 )     485       2,531  

Leases

     220       150       -       -       370  

Credit cards

     242       206       (225 )     32       255  

Total

   $ 79,374     $ 8,800     $ (2,776 )   $ 1,545     $ 86,943  
(in thousands)

Year ended December 31, 2023

   Beginning

Balance

    

Provision for

Credit Losses

on Loans

    

Charge-offs

    

Recoveries

    

Ending

Balance

  
                                         

Commercial real estate - non-owner occupied

   $ 22,641     $ (599 )   $ -     $ 91     $ 22,133  

Commercial real estate - owner occupied

     10,827       831       -       9       11,667  

Total commercial real estate

     33,468       232       -       100       33,800  
                                         

Commercial and industrial - term

     12,991       3,607       (2,298 )     59       14,359  

Commercial and industrial - lines of credit

     6,389       3,582       (3,633 )     157       6,495  

Total commercial and industrial

     19,380       7,189       (5,931 )     216       20,854  
                                         

Residential real estate - owner occupied

     6,717       2,597       (43 )     45       9,316  

Residential real estate - non-owner occupied

     3,597       683       -       2       4,282  

Total residential real estate

     10,314       3,280       (43 )     47       13,598  
                                         

Construction and land development

     7,186       407       -       -       7,593  

Home equity lines of credit

     1,613       59       (12 )     -       1,660  

Consumer

     1,158       628       (865 )     486       1,407  

Leases

     201       19       -       -       220  

Credit cards

     211       657       (661 )     35       242  

Total

   $ 73,531     $ 12,471     $ (7,512 )   $ 884     $ 79,374  
(in thousands)

December 31, 2025

  

Real Estate

    

Accounts

Receivable /

Equipment

    

Other

    

Total

    

ACL

Allocation

  
                                         

Commercial real estate - non-owner occupied

   $ 6,809     $ -     $ -     $ 6,809     $ 887  

Commercial real estate - owner occupied

     4,302       -       -       4,302       755  

Total commercial real estate

     11,111       -       -       11,111       1,642  
                                         

Commercial and industrial - term

     877       97       46       1,020       405  

Commercial and industrial - lines of credit

     289       -       382       671       306  

Total commercial and industrial

     1,166       97       428       1,691       711  
                                         

Residential real estate - owner occupied

     6,376       -       -       6,376       1,464  

Residential real estate - non-owner occupied

     1,608       -       -       1,608       470  

Total residential real estate

     7,984       -       -       7,984       1,934  
                                         

Construction and land development

     -       -       -       -       -  

Home equity lines of credit

     -       -       -       -       -  

Consumer

     -       -       272       272       -  

Leases

     -       -       -       -       -  

Credit cards

     -       -       -       -       -  

Total collateral dependent loans

   $ 20,261     $ 97     $ 700     $ 21,058     $ 4,287  
(in thousands)

December 31, 2024

  

Real Estate

    

Accounts

Receivable /

Equipment

    

Other

    

Total

    

ACL

Allocation

  
                                         

Commercial real estate - non-owner occupied

   $ 11,699     $ -     $ -     $ 11,699     $ 1,075  

Commercial real estate - owner occupied

     3,547       -       -       3,547       764  

Total commercial real estate

     15,246       -       -       15,246       1,839  
                                         

Commercial and industrial - term

     740       4,062       76       4,878       516  

Commercial and industrial - lines of credit

     349       200       -       549       139  

Total commercial and industrial

     1,089       4,262       76       5,427       655  
                                         

Residential real estate - owner occupied

     6,514       -       -       6,514       448  

Residential real estate - non-owner occupied

     2,974       -       -       2,974       852  

Total residential real estate

     9,488       -       -       9,488       1,300  
                                         

Construction and land development

     311       -       -       311       20  

Home equity lines of credit

     70       -       -       70       -  

Consumer

     -       -       356       356       34  

Leases

     -       -       -       -       -  

Credit cards

     -       -       -       -       -  

Total collateral dependent loans

   $ 26,204     $ 4,262     $ 432     $ 30,898     $ 3,848  
Financing Receivable, Nonaccrual [Table Text Block]
   

Non-accrual Loans

            

Past Due 90-Days-

  

(in thousands)

  

With No

   

Total

    

or-More and Still

  

December 31, 2025

  

Recorded ACL

    

Non-accrual

    

Accruing Interest

  
                         

Commercial real estate - non-owner occupied

   $ -     $ 283     $ 72  

Commercial real estate - owner occupied

     —       2,449       219  

Total commercial real estate

     —       2,732       291  
                         

Commercial and industrial - term

     348       819       —  

Commercial and industrial - lines of credit

     —       182       —  

Total commercial and industrial

     348       1,001       —  
                         

Residential real estate - owner occupied

     400       7,349       158  

Residential real estate - non-owner occupied

     324       1,173       —  

Total residential real estate

     724       8,522       158  
                         

Construction and land development

     —       —       —  

Home equity lines of credit

     —       —       —  

Consumer

     20       278       —  

Leases

     —       —       —  

Credit cards

     —       52       —  

Total

   $ 1,092     $ 12,585     $ 449  
   

Non-accrual Loans

            

Past Due 90-Days-

  

(in thousands)

  

With No

   

Total

    

or-More and Still

  

December 31, 2024

  

Recorded ACL

    

Non-accrual

    

Accruing Interest

  
                         

Commercial real estate - non-owner occupied

   $ 4,409     $ 5,221     $ —  

Commercial real estate - owner occupied

     434       1,231       73  

Total commercial real estate

     4,843       6,452       73  
                         

Commercial and industrial - term

     3,828       4,903       95  

Commercial and industrial - lines of credit

     —       —       19  

Total commercial and industrial

     3,828       4,903       114  
                         

Residential real estate - owner occupied

     371       7,168       —  

Residential real estate - non-owner occupied

     —       2,451       39  

Total residential real estate

     371       9,619       39  
                         

Construction and land development

     —       311       —  

Home equity lines of credit

     —       70       91  

Consumer

     —       372       —  

Leases

     —       —       —  

Credit cards

     —       —       170  

Total

   $ 9,042     $ 21,727     $ 487  
Financing Receivable, Past Due [Table Text Block]

(in thousands)

          

30-59 days

    

60-89 days

    

90 or more

    

Total Past

    

Total

  

December 31, 2025

  

Current

    

Past Due

    

Past Due

    

days Past Due

    

Due Loans

    

Loans

  
                                                 

Commercial real estate - non-owner occupied

   $ 1,912,951     $ 2,042     $ 151     $ 108     $ 2,301     $ 1,915,252  

Commercial real estate - owner occupied

     1,120,790       383       —       723       1,106       1,121,896  

Total commercial real estate

     3,033,741       2,425       151       831       3,407       3,037,148  
                                                 

Commercial and industrial - term

     896,911       71       84       510       665       897,576  

Commercial and industrial - lines of credit

     611,757       156       —       —       156       611,913  

Total commercial and industrial

     1,508,668       227       84       510       821       1,509,489  
                                                 

Residential real estate - owner occupied

     862,509       8,514       4,137       6,705       19,356       881,865  

Residential real estate - non-owner occupied

     390,148       103       151       814       1,068       391,216  

Total residential real estate

     1,252,657       8,617       4,288       7,519       20,424       1,273,081  
                                                 

Construction and land development

     751,897       —       —       —       -       751,897  

Home equity lines of credit

     284,707       369       39       —       408       285,115  

Consumer

     141,352       445       350       278       1,073       142,425  

Leases

     16,912       —       —       —       —       16,912  

Credit cards

     24,970       187       34       52       273       25,243  

Total

   $ 7,014,904     $ 12,270     $ 4,946     $ 9,190     $ 26,406     $ 7,041,310  

(in thousands)

          

30-59 days

    

60-89 days

    

90 or more

    

Total Past

    

Total

  

December 31, 2024

  

Current

    

Past Due

    

Past Due

    

days Past Due

    

Due Loans

    

Loans

  
                                                 

Commercial real estate - non-owner occupied

   $ 1,831,135     $ 168     $ 4,410     $ 222     $ 4,800     $ 1,835,935  

Commercial real estate - owner occupied

     1,001,351       648       715       139       1,502       1,002,853  

Total commercial real estate

     2,832,486       816       5,125       361       6,302       2,838,788  
                                                 

Commercial and industrial - term

     879,597       103       2,740       1,959       4,802       884,399  

Commercial and industrial - lines of credit

     552,655       59       1,522       19       1,600       554,255  

Total commercial and industrial

     1,432,252       162       4,262       1,978       6,402       1,438,654  
                                                 

Residential real estate - owner occupied

     789,286       7,737       3,176       4,881       15,794       805,080  

Residential real estate - non-owner occupied

     381,177       628       56       883       1,567       382,744  

Total residential real estate

     1,170,463       8,365       3,232       5,764       17,361       1,187,824  
                                                 

Construction and land development

     622,614       391       —       —       391       623,005  

Home equity lines of credit

     246,700       424       194       115       733       247,433  

Consumer

     143,796       470       69       309       848       144,644  

Leases

     15,514       —       —       —       —       15,514  

Credit cards

     24,122       220       27       171       418       24,540  

Total

   $ 6,487,947     $ 10,848     $ 12,909     $ 8,698     $ 32,455     $ 6,520,402  
Financing Receivable Credit Quality Indicators [Table Text Block]
                                                   

Revolving

         
                                                    loans          

(in thousands)

  

Term Loans Amortized Cost Basis by Origination Year

     amortized          

December 31, 2025

  

2025

    

2024

    

2023

    

2022

    

2021

    

Prior

     cost basis    

Total

  
                                                                 

Commercial real estate - non-owner occupied:

                                                                

Risk rating

                                                                

Pass

   $ 473,903     $ 308,918     $ 322,311     $ 304,074     $ 234,941     $ 198,207     $ 21,473     $ 1,863,827  

OAEM

     16,521       2,271       11,620       2,240       7,638       5,945       -       46,235  

Substandard

     138       -       1,219       595       2,747       208       -       4,907  

Substandard non-performing

     -       151       -       -       -       132       -       283  

Doubtful

     -       -       -       -       -       -       -       -  

Total Commercial real estate non-owner occupied

   $ 490,562     $ 311,340     $ 335,150     $ 306,909     $ 245,326     $ 204,492     $ 21,473     $ 1,915,252  

Current period gross charge offs

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

Commercial real estate - owner occupied:

                                                                

Risk rating

                                                                

Pass

   $ 206,283     $ 143,496     $ 173,577     $ 165,211     $ 167,487     $ 210,266     $ 16,784     $ 1,083,104  

OAEM

     1,613       4,308       1,774       4,632       1,264       5,225       -       18,816  

Substandard

     5,279       2,156       3,896       3,140       2,861       195       -       17,527  

Substandard non-performing

     1,184       240       -       158       714       153       -       2,449  

Doubtful

     -       -       -       -       -       -       -       -  

Total Commercial real estate owner occupied

   $ 214,359     $ 150,200     $ 179,247     $ 173,141     $ 172,326     $ 215,839     $ 16,784     $ 1,121,896  

Current period gross charge offs

   $ -     $ (99 )   $ -     $ (38 )   $ -     $ -     $ -     $ (137 )
                                                                 

Commercial and industrial - term:

                                                                

Risk rating

                                                                

Pass

   $ 264,366     $ 239,708     $ 129,940     $ 127,077     $ 84,782     $ 38,764     $ -     $ 884,637  

OAEM

     341       7,853       392       1,020       -       -       -       9,606  

Substandard

     -       -       82       1,162       1,238       32       -       2,514  

Substandard non-performing

     198       15       46       9       -       551       -       819  

Doubtful

     -       -       -       -       -       -       -       -  

Total Commercial and industrial - term

   $ 264,905     $ 247,576     $ 130,460     $ 129,268     $ 86,020     $ 39,347     $ -     $ 897,576  

Current period gross charge offs

   $ -     $ (350 )   $ (328 )   $ (56 )   $ (4 )   $ -     $ -     $ (738 )
                                                                 

Commercial and industrial - lines of credit

                                                                

Risk rating

                                                                

Pass

   $ 62,731     $ 77,599     $ 5,292     $ 586     $ 1,852     $ 1,905     $ 425,487     $ 575,452  

OAEM

     485       2,258       -       -       -       -       13,955       16,698  

Substandard

     -       -       -       -       -       -       19,581       19,581  

Substandard non-performing

     182       -       -       -       -       -       -       182  

Doubtful

     -       -       -       -       -       -       -       -  

Total Commercial and industrial - lines of credit

   $ 63,398     $ 79,857     $ 5,292     $ 586     $ 1,852     $ 1,905     $ 459,023     $ 611,913  

Current period gross charge offs

   $ -     $ -     $ -     $ -     $ -     $ -     $ (287 )   $ (287 )
                                                    Revolving          
                                                    loans          

(in thousands)

  

Term Loans Amortized Cost Basis by Origination Year

     amortized          

December 31, 2025

  

2025

    

2024

    

2023

    

2022

    

2021

    

Prior

     cost basis    

Total

  
                                                                 

Residential real estate - owner occupied

                                                                

Risk rating

                                                                

Pass

   $ 166,712     $ 147,066     $ 136,367     $ 152,065     $ 140,120     $ 131,827     $ -     $ 874,157  

OAEM

     151       -       -       -       77       -       -       228  

Substandard

     -       -       -       10       -       121       -       131  

Substandard non-performing

     602       1,459       2,676       1,956       -       656       -       7,349  

Doubtful

     -       -       -       -       -       -       -       -  

Total Residential real estate - owner occupied

   $ 167,465     $ 148,525     $ 139,043     $ 154,031     $ 140,197     $ 132,604     $ -     $ 881,865  

Current period gross charge offs

   $ (25 )   $ -     $ (252 )   $ -     $ (26 )   $ (5 )   $ -     $ (308 )
                                                                 

Residential real estate - non-owner occupied

                                                                

Risk rating

                                                                

Pass

   $ 79,805     $ 66,030     $ 54,464     $ 64,198     $ 61,721     $ 63,348     $ -     $ 389,566  

OAEM

     -       -       -       -       -       163       -       163  

Substandard

     -       -       208       -       -       106       -       314  

Substandard non-performing

     -       -       878       159       -       136       -       1,173  

Doubtful

     -       -       -       -       -       -       -       -  

Total Residential real estate - non-owner occupied

   $ 79,805     $ 66,030     $ 55,550     $ 64,357     $ 61,721     $ 63,753     $ -     $ 391,216  

Current period gross charge offs

   $ -     $ (150 )   $ (3 )   $ -     $ -     $ (3 )   $ -     $ (156 )
                                                                 

Construction and land development

                                                                

Risk rating

                                                                

Pass

   $ 253,687     $ 254,341     $ 182,016     $ 44,909     $ 3,095     $ 1,687     $ 12,162     $ 751,897  

OAEM

     -       -       -       -       -       -       -       -  

Substandard

     -       -       -       -       -       -       -       -  

Substandard non-performing

     -       -       -       -       -       -       -       -  

Doubtful

     -       -       -       -       -       -       -       -  

Total Construction and land development

   $ 253,687     $ 254,341     $ 182,016     $ 44,909     $ 3,095     $ 1,687     $ 12,162     $ 751,897  

Current period gross charge offs

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

Home equity lines of credit

                                                                

Risk rating

                                                                

Pass

   $ -     $ -     $ -     $ -     $ -     $ -     $ 284,064     $ 284,064  

OAEM

     -       -       -       -       -       -       -       -  

Substandard

     -       -       -       -       -       -       1,051       1,051  

Substandard non-performing

     -       -       -       -       -       -       -       -  

Doubtful

     -       -       -       -       -       -       -       -  

Total Home equity lines of credit

   $ -     $ -     $ -     $ -     $ -     $ -     $ 285,115     $ 285,115  

Current period gross charge offs

   $ -     $ -     $ -     $ -     $ -     $ -     $ (10 )   $ (10 )
                                                                 

Consumer

                                                                

Risk rating

                                                                

Pass

   $ 27,560     $ 13,948     $ 9,927     $ 8,561     $ 3,838     $ 650     $ 77,663     $ 142,147  

OAEM

     -       -       -       -       -       -       -       -  

Substandard

     -       -       -       -       -       -       -       -  

Substandard non-performing

     21       126       110       12       -       9       -       278  

Doubtful

     -       -       -       -       -       -       -       -  

Total Consumer

   $ 27,581     $ 14,074     $ 10,037     $ 8,573     $ 3,838     $ 659     $ 77,663     $ 142,425  

Current period gross charge offs

   $ (857 )   $ (72 )   $ (97 )   $ (36 )   $ (5 )   $ (36 )   $ -     $ (1,103 )
                                                    Revolving          
                                                    loans          

(in thousands)

  

Term Loans Amortized Cost Basis by Origination Year

     amortized          

December 31, 2025

  

2025

    

2024

    

2023

    

2022

    

2021

    

Prior

     cost basis    

Total

  
                                                                 

Leases

                                                                

Risk rating

                                                                

Pass

   $ 6,848     $ 3,880     $ 3,831     $ 1,014     $ 836     $ 137     $ -     $ 16,546  

OAEM

     -       -       -       -       -       -       -       -  

Substandard

     -       -       -       366       -       -       -       366  

Substandard non-performing

     -       -       -       -       -       -       -       -  

Doubtful

     -       -       -       -       -       -       -       -  

Total Leases

   $ 6,848     $ 3,880     $ 3,831     $ 1,380     $ 836     $ 137     $ -     $ 16,912  

Current period gross charge offs

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

Credit cards

                                                                

Risk rating

                                                                

Pass

   $ -     $ -     $ -     $ -     $ -     $ -     $ 25,191     $ 25,191  

OAEM

     -       -       -       -       -       -       -       -  

Substandard

     -       -       -       -       -       -       -       -  

Substandard non-performing

     -       -       -       -       -       -       52       52  

Doubtful

     -       -       -       -       -       -       -       -  

Total Credit cards

   $ -     $ -     $ -     $ -     $ -     $ -     $ 25,243     $ 25,243  

Current period gross charge offs

   $ -     $ -     $ -     $ -     $ -     $ -     $ (303 )   $ (303 )
                                                                 

Total loans

                                                                

Risk rating

                                                                

Pass

   $ 1,541,895     $ 1,254,986     $ 1,017,725     $ 867,695     $ 698,672     $ 646,791     $ 862,824     $ 6,890,588  

OAEM

     19,111       16,690       13,786       7,892       8,979       11,333       13,955       91,746  

Substandard

     5,417       2,156       5,405       5,273       6,846       662       20,632       46,391  

Substandard non-performing

     2,187       1,991       3,710       2,294       714       1,637       52       12,585  

Doubtful

     -       -       -       -       -       -       -       -  

Total Loans

   $ 1,568,610     $ 1,275,823     $ 1,040,626     $ 883,154     $ 715,211     $ 660,423     $ 897,463     $ 7,041,310  

Current period gross charge offs

   $ (882 )   $ (671 )   $ (680 )   $ (130 )   $ (35 )   $ (44 )   $ (600 )   $ (3,042 )
                                                   

Revolving

         
                                                    loans          

(in thousands)

  

Term Loans Amortized Cost Basis by Origination Year

     amortized          

December 31, 2024

  

2024

    

2023

    

2022

    

2021

    

2020

    

Prior

     cost basis    

Total

  
                                                                 

Commercial real estate - non-owner occupied:

                                                                

Risk rating

                                                                

Pass

   $ 416,310     $ 293,890     $ 402,081     $ 291,741     $ 199,039     $ 157,303     $ 28,584     $ 1,788,948  

OAEM

     10,480       1,533       -       10,709       1,664       13,191       -       37,577  

Substandard

     1,546       -       2,320       -       -       225       98       4,189  

Substandard non-performing

     269       -       -       -       -       4,952       -       5,221  

Doubtful

     -       -       -       -       -       -       -       -  

Total Commercial real estate non-owner occupied

   $ 428,605     $ 295,423     $ 404,401     $ 302,450     $ 200,703     $ 175,671     $ 28,682     $ 1,835,935  

Current period gross charge offs

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

Commercial real estate - owner occupied:

                                                                

Risk rating

                                                                

Pass

   $ 133,404     $ 163,452     $ 172,933     $ 174,638     $ 156,955     $ 139,919     $ 22,012     $ 963,313  

OAEM

     6,292       273       1,145       1,856       715       3,385       -       13,666  

Substandard

     7,192       9,923       3,656       3,643       -       229       -       24,643  

Substandard non-performing

     434       -       -       731       66       -       -       1,231  

Doubtful

     -       -       -       -       -       -       -       -  

Total Commercial real estate owner occupied

   $ 147,322     $ 173,648     $ 177,734     $ 180,868     $ 157,736     $ 143,533     $ 22,012     $ 1,002,853  

Current period gross charge offs

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

Commercial and industrial - term:

                                                                

Risk rating

                                                                

Pass

   $ 312,854     $ 173,383     $ 198,754     $ 120,056     $ 34,013     $ 30,903     $ -     $ 869,963  

OAEM

     2,679       1,813       833       104       28       -       -       5,457  

Substandard

     496       311       -       3,036       10       223       -       4,076  

Substandard non-performing

     3,822       349       343       -       302       87       -       4,903  

Doubtful

     -       -       -       -       -       -       -       -  

Total Commercial and industrial - term

   $ 319,851     $ 175,856     $ 199,930     $ 123,196     $ 34,353     $ 31,213     $ -     $ 884,399  

Current period gross charge offs

   $ (414 )   $ (250 )   $ (6 )   $ (78 )   $ -     $ -     $ -     $ (748 )
                                                                 

Commercial and industrial - lines of credit

                                                                

Risk rating

                                                                

Pass

   $ 119,206     $ 11,181     $ 3,967     $ 2,553     $ 295     $ 2,654     $ 372,866     $ 512,722  

OAEM

     7,448       -       -       -       -       -       10,750       18,198  

Substandard

     -       -       -       -       -       -       23,335       23,335  

Substandard non-performing

     -       -       -       -       -       -       -       -  

Doubtful

     -       -       -       -       -       -       -       -  

Total Commercial and industrial - lines of credit

   $ 126,654     $ 11,181     $ 3,967     $ 2,553     $ 295     $ 2,654     $ 406,951     $ 554,255  

Current period gross charge offs

   $ -     $ -     $ (555 )   $ -     $ -     $ -     $ -     $ (555 )
                                                    Revolving          
                                                    loans          

(in thousands)

  

Term Loans Amortized Cost Basis by Origination Year

     amortized          

December 31, 2024

  

2024

    

2023

    

2022

    

2021

    

2020

    

Prior

     cost basis    

Total

  
                                                                 

Residential real estate - owner occupied

                                                                

Risk rating

                                                                

Pass

   $ 161,257     $ 154,799     $ 166,127     $ 159,449     $ 77,516     $ 78,169     $ -     $ 797,317  

OAEM

     158       -       -       83       -       -       -       241  

Substandard

     -       -       12       -       -       342       -       354  

Substandard non-performing

     1,028       3,737       1,400       320       9       674       -       7,168  

Doubtful

     -       -       -       -       -       -       -       -  

Total Residential real estate - owner occupied

   $ 162,443     $ 158,536     $ 167,539     $ 159,852     $ 77,525     $ 79,185     $ -     $ 805,080  

Current period gross charge offs

   $ -     $ (349 )   $ -     $ -     $ -     $ (7 )   $ -     $ (356 )
                                                                 

Residential real estate - non-owner occupied

                                                                

Risk rating

                                                                

Pass

   $ 80,717     $ 66,330     $ 72,580     $ 70,585     $ 41,874     $ 47,578     $ -     $ 379,664  

OAEM

     -       -       -       -       -       514       -       514  

Substandard

     -       -       -       -       -       115       -       115  

Substandard non-performing

     739       1,332       214       17       -       149       -       2,451  

Doubtful

     -       -       -       -       -       -       -       -  

Total Residential real estate - non-owner occupied

   $ 81,456     $ 67,662     $ 72,794     $ 70,602     $ 41,874     $ 48,356     $ -     $ 382,744  

Current period gross charge offs

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

Construction and land development

                                                                

Risk rating

                                                                

Pass

   $ 237,785     $ 234,782     $ 115,429     $ 8,381     $ 1,273     $ 3,569     $ 15,420     $ 616,639  

OAEM

     3,680       1,376       -       -       -       -       -       5,056  

Substandard

     -       -       -       -       -       -       999       999  

Substandard non-performing

     311       -       -       -       -       -       -       311  

Doubtful

     -       -       -       -       -       -       -       -  

Total Construction and land development

   $ 241,776     $ 236,158     $ 115,429     $ 8,381     $ 1,273     $ 3,569     $ 16,419     $ 623,005  

Current period gross charge offs

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

Home equity lines of credit

                                                                

Risk rating

                                                                

Pass

   $ -     $ -     $ -     $ -     $ -     $ -     $ 246,336     $ 246,336  

OAEM

     -       -       -       -       -       -       -       -  

Substandard

     -       -       -       -       -       -       1,027       1,027  

Substandard non-performing

     -       -       -       -       -       -       70       70  

Doubtful

     -       -       -       -       -       -       -       -  

Total Home equity lines of credit

   $ -     $ -     $ -     $ -     $ -     $ -     $ 247,433     $ 247,433  

Current period gross charge offs

   $ -     $ -     $ -     $ -     $ -     $ -     $ (107 )   $ (107 )
                                                                 

Consumer

                                                                

Risk rating

                                                                

Pass

   $ 22,895     $ 18,200     $ 12,822     $ 6,294     $ 1,095     $ 1,023     $ 81,943     $ 144,272  

OAEM

     -       -       -       -       -       -       -       -  

Substandard

     -       -       -       -       -       -       -       -  

Substandard non-performing

     135       113       66       13       17       28       -       372  

Doubtful

     -       -       -       -       -       -       -       -  

Total Consumer

   $ 23,030     $ 18,313     $ 12,888     $ 6,307     $ 1,112     $ 1,051     $ 81,943     $ 144,644  

Current period gross charge offs

   $ (640 )   $ (19 )   $ (12 )   $ (41 )   $ (9 )   $ (45 )   $ (19 )   $ (785 )

 

                                                  

Revolving

         
                                                    loans          

(in thousands)

  

Term Loans Amortized Cost Basis by Origination Year

     amortized          

December 31, 2024

  

2024

    

2023

    

2022

    

2021

    

2020

    

Prior

     cost basis    

Total

  
                                                                 

Leases

                                                                

Risk rating

                                                                

Pass

   $ 4,935     $ 5,439     $ 1,864     $ 1,462     $ 597     $ 3     $ -     $ 14,300  

OAEM

     -       -       -       -       -       -       -       -  

Substandard

     31       -       586       536       61       -       -       1,214  

Substandard non-performing

     -       -       -       -       -       -       -       -  

Doubtful

     -       -       -       -       -       -       -       -  

Total Leases

   $ 4,966     $ 5,439     $ 2,450     $ 1,998     $ 658     $ 3     $ -     $ 15,514  

Current period gross charge offs

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

Credit cards

                                                                

Risk rating

                                                                

Pass

   $ -     $ -     $ -     $ -     $ -     $ -     $ 24,540     $ 24,540  

OAEM

     -       -       -       -       -       -       -       -  

Substandard

     -       -       -       -       -       -       -       -  

Substandard non-performing

     -       -       -       -       -       -       -       -  

Doubtful

     -       -       -       -       -       -       -       -  

Total Credit cards

   $ -     $ -     $ -     $ -     $ -     $ -     $ 24,540     $ 24,540  

Current period gross charge offs

   $ -     $ -     $ -     $ -     $ -     $ -     $ (225 )   $ (225 )
                                                                 

Total loans

                                                                

Risk rating

                                                                

Pass

   $ 1,489,363     $ 1,121,456     $ 1,146,557     $ 835,159     $ 512,657     $ 461,121     $ 791,701     $ 6,358,014  

OAEM

     30,737       4,995       1,978       12,752       2,407       17,090       10,750       80,709  

Substandard

     9,265       10,234       6,574       7,215       71       1,134       25,459       59,952  

Substandard non-performing

     6,738       5,531       2,023       1,081       394       5,890       70       21,727  

Doubtful

     -       -       -       -       -       -       -       -  

Total Loans

   $ 1,536,103     $ 1,142,216     $ 1,157,132     $ 856,207     $ 515,529     $ 485,235     $ 827,980     $ 6,520,402  

Current period gross charge offs

   $ (1,054 )   $ (618 )   $ (573 )   $ (119 )   $ (9 )   $ (52 )   $ (351 )   $ (2,776 )
Financinng Receivable, Schedule of Payment Activity [Table Text Block]

(in thousands)

                

December 31,

  

2025

    

2024

  
                 

Credit cards

                

Performing

   $ 25,191     $ 24,370  

Non-performing

     52       170  

Total credit cards

   $ 25,243     $ 24,540  
v3.25.4
Note 5 - Premises and Equipment and Premises Held for Sale (Tables)
 12 Months Ended
Dec. 31, 2025
Notes Tables  
Property, Plant and Equipment [Table Text Block]

December 31, (in thousands)

  

2025

    

2024

  
                 

Land

   $ 25,202     $ 22,360  

Buildings and improvements

     77,535       73,369  

Furniture and equipment

     25,924       25,358  

Construction in progress

     3,656       5,079  

Right-of-use operating lease asset

     31,241       29,695  

Total

     163,558       155,861  

Accumulated depreciation and amortization

     (44,860 )     (43,125 )

Total premises and equipment

   $ 118,698     $ 112,736  
Detail Regarding Operating Leases of Lessee [Table Text Block]

December 31, (dollars in thousands)

  

2025

    

2024

  
                 

Balance Sheet

                

Operating lease right-of-use asset

   $ 31,241     $ 29,695  

Operating lease liability

     32,971       31,194  
                 

Weighted average remaining lease term (years)

     10.2       10.8  

Weighted average discount rate

     3.65 %     3.69 %
                 

Maturities of lease liabilities:

                

2026

   $ 4,131     $ 3,955  

2027

     4,149       3,869  

2028

     4,198       3,881  

2029

     4,129       3,924  

2030

     3,974       3,794  

Greater than five years

     19,347       19,120  

Total lease payments

   $ 39,928     $ 38,543  

Less imputed interest

     (6,957 )     (7,349 )

Total

   $ 32,971     $ 31,194  

Years ended December 31, (in thousands)

  

2025

    

2024

    

2023

  
                         

Income Statement

                        

Components of lease expense:

                        

Operating lease cost

   $ 4,230     $ 4,241     $ 3,338  

Variable lease cost

     383       345       313  

Less sublease income

     (96 )     (102 )     (101 )

Total lease cost

   $ 4,517     $ 4,484     $ 3,550  

Years ended December 31, (in thousands)

  

2025

    

2024

    

2023

  
                         

Cash flow Statement

                        

Supplemental cash flow information:

                        

Operating cash flows from operating leases

   $ 4,409     $ 4,672     $ 4,063  
v3.25.4
Note 6 - Goodwill (Tables)
 12 Months Ended
Dec. 31, 2025
Notes Tables  
Schedule of Goodwill [Table Text Block]

December 31, (in thousands)

  

2025

    

2024

  

Commonwealth Bancshares (2022)

   $ 58,244     $ 58,244  

Kentucky Bancshares (2021)

     123,317       123,317  

King Southern Bancorp (2019)

     11,831       11,831  

Austin State Bank (1996)

     682       682  

Total

   $ 194,074     $ 194,074  
v3.25.4
Note 7 - Core Deposit and Customer List Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2025
Notes Tables  
Schedule of Finite-Lived Intangible Assets [Table Text Block]

Years ended December 31, (in thousands)

  

2025

    

2024

    

2023

  
                         

Balance at beginning of period

   $ 8,978     $ 11,944     $ 14,958  

Added from acquisition

     —       —       —  

Provisional period adjustment

     —       —       —  

Amortized to expense

     (2,290 )     (2,966 )     (3,014 )

Balance at end of period

   $ 6,688     $ 8,978     $ 11,944  

Year ended December 31, (in thousands)

  

2025

    

2024

    

2023

  

Balance at beginning of period

   $ 6,840     $ 8,360     $ 10,032  

Added from acquisition

     —       —       —  

Disposition of LFA

     —       —       —  

Amortized to expense

     (1,368 )     (1,520 )     (1,672 )

Balance at end of period

   $ 5,472     $ 6,840     $ 8,360  
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]

(in thousands)

  

CDI

    

CLI

  

2026

     1,980       1,216  

2027

     1,668       1,064  

2028

     1,311       912  

2029

     888       760  

2030

     576       608  

Thereafter

     265       912  

Total future expense

   $ 6,688     $ 5,472  
v3.25.4
Note 8 - Other Assets (Tables)
 12 Months Ended
Dec. 31, 2025
Notes Tables  
Schedule of Other Assets [Table Text Block]

December 31,  (in thousands)

  

2025

    

2024

  
                 

Cash surrender value of life insurance other than BOLI

   $ 22,156     $ 19,895  

Net deferred tax asset

     44,667       51,646  

Investments in tax credit partnerships

     194,643       185,424  

Derivative assets

     4,501       12,437  

Prepaid assets

     8,818       6,369  

WM&T fees receivable

     5,253       4,523  

Mortgage servicing rights

     10,189       11,333  

Other real estate owned

     190       10  

Other

     14,589       17,113  

Total other assets

   $ 305,006     $ 308,750  
v3.25.4
Note 9 - Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2025
Notes Tables  
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

Years Ended December 31, (in thousands)

  

2025

    

2024

    

2023

  

Current income tax expense:

                        

Federal

   $ 33,894     $ 27,377     $ 25,360  

State

     6,982       5,566       5,254  

Total current income tax expense

     40,876       32,943       30,614  
                         

Deferred income tax expense (benefit):

                        

Federal

     (2,396 )     (2,681 )     (977 )

State

     (434 )     (435 )     542  

Total deferred income tax expense (benefit)

     (2,830 )     (3,116 )     (435 )

Total income tax expense

   $ 38,046     $ 29,827     $ 30,179  
Schedule of Income Tax Expense Benefit, Recorded Directly to Stockholders Equity [Table Text Block]

Years Ended December 31, (in thousands)

  

2025

    

2024

    

2023

  

Unrealized gain (loss) on securities available for sale

   $ 11,222     $ (359 )   $ 7,416  

Unrealized gain (loss) on derivatives

     (24 )     983       (58 )

Minimum pension liability adjustment

     (1,397 )     18       (17 )

Total income tax (benefit) expense recorded directly to stockholders' equity

   $ 9,801     $ 642     $ 7,341  
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]
   

2025

  

(dollars in thousands)

  

Amount

    

Percent

  

U.S. federal statutory income tax rate

   $ 37,421       21.00 %

State income taxes, net of federal benefit (1)

     5,173       2.90  

Tax credits (2):

                

Low income housing tax credits

     (2,402 )     (1.35 )

Historic rehabilitation tax credits

     (570 )     (0.32 )

Non-taxable or non-deductible items:

                

Changes in cash surrender value of life insurance

     (944 )     (0.53 )

Tax-exempt interest income

     (555 )     (0.31 )

Other:

                

Stock-based compensation

     (602 )     (0.34 )

Other

     525       0.30  

Effective tax rate

   $ 38,046       21.35 %

Years Ended December 31,

  

2024

    

2023

  

U.S. federal statutory income tax rate

     21.00 %     21.00 %

State income taxes, net of federal benefit

     2.75       3.27  

Excess tax benefits from stock-based compensation arrangements

     (0.76 )     (0.31 )

Change in cash surrender value of life insurance

     (0.61 )     (0.64 )

Tax credits

     (1.54 )     (0.54 )

Tax exempt interest income

     (0.43 )     (0.50 )

Non-deductible merger expenses

     -       -  

Insurance captive

     -       (0.20 )

Amortization of investment in tax credit partnerships

     -       0.20  

Other, net

     0.25       (0.40 )

Effective tax rate

     20.66 %     21.88 %
Schedule of Income Taxes Paid [Table Text Block]

Years Ended December 31, (in thousands)

  

2025

  

Federal income taxes

   $ 15,855  

State and local income taxes:

        

Kentucky

     4,120  

Indiana

     1,145  

Illinois

     75  

Total income taxes paid

   $ 21,195  
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

December 31, (in thousands)

  

2025

    

2024

  

Deferred tax assets:

                

Investment securities

   $ 19,149     $ 30,308  

Allowance for credit losses

     22,556       21,373  

Deferred compensation

     7,158       6,605  

Operating lease liability

     8,016       7,580  

Acquired loan fair value adjustments

     2,056       2,500  

Accrued expenses

     4,905       3,905  

Interest rate swaps

     471       -  

Write-downs and costs associated with OREO

     -       27  

Deferred PPP loan fees

     -       9  

Total deferred tax assets

     64,311       72,307  
                 

Deferred tax liabilities:

                

Right-of-use operating lease asset

     7,670       7,300  

Mortgage servicing rights

     2,502       2,786  

Core deposit intangibles

     1,435       1,975  

Customer list intangible

     1,343       1,681  

Property and equipment

     2,341       2,143  

Other liabilities

     2,249       1,897  

Investments in tax credit partnerships

     338       227  

Loan costs

     1,758       1,599  

Interest rate swaps

     -       925  

Leases

     8       128  

Total deferred tax liabilities

     19,644       20,661  

Net deferred tax asset

   $ 44,667     $ 51,646  
Schedule of Unfunded Contributions [Table Text Block]

(dollars in thousands)

  

December 31, 2025

  

2026

   $ 56,727  

2027

     35,531  

2028

     3,183  

2029

     1,510  

2030

     1,764  

Thereafter

     6,516  

Total unfunded contributions

   $ 105,231  
Schedule Of Tax Credits And Other Tax Benefits Recognized And Amortization Expense Related To Tax Credit Partnerships [Table Text Block]

December 31, (in thousands)

  

2025

    

2024

    

2023

  

Proportional amortization method:

                        

Tax credits and other tax benefits recognized

   $ 18,530     $ 12,390     $ 417  

Amortization expense in provision for income taxes

     13,703       9,268       3,295  

Amortization expense in other non-interest expense

     -       -       1,294  
                         

Effective yield method:

                        

Tax credits and other tax benefits recognized

   $ -     $ -     $ 1,598  

Amortization expense in provision for income taxes

     -       -       -  

Amortization expense in other non-interest expense

     -       -       -  
v3.25.4
Note 10 - Deposits (Tables)
 12 Months Ended
Dec. 31, 2025
Notes Tables  
Deposit Liabilities, Type [Table Text Block]

December 31, (in thousands)

  

2025

    

2024

  
                 

Non-interest bearing demand deposits

   $ 1,435,846     $ 1,456,138  
                 

Interest bearing deposits:

                

Interest bearing demand

     2,886,406       2,649,142  

Savings

     420,382       419,355  

Money market

     1,311,969       1,403,978  
                 

Time deposit accounts of $250,000 or more

     567,404       365,024  

Other time deposits

     1,169,130       872,764  

Total time deposits

     1,736,534       1,237,788  
                 

Total interest bearing deposits

     6,355,291       5,710,263  

Total deposits

   $ 7,791,137     $ 7,166,401  
Time Deposit Maturities [Table Text Block]

(in thousands)

        

2026

   $ 1,590,373  

2027

     131,589  

2028

     6,921  

2029

     4,649  

2030

     3,002  

Total time deposits

   $ 1,736,534  
v3.25.4
Note 11 - Securities Sold Under Agreements to Repurchase (Tables)
 12 Months Ended
Dec. 31, 2025
Notes Tables  
Schedule of Short-Term Debt [Table Text Block]

December 31, (dollars in thousands)

  

2025

    

2024

  

Outstanding balance at end of period

   $ 112,476     $ 162,967  

Weighted average interest rate at end of period

     1.80

%

     2.10

%

Years Ended December 31, (dollars in thousands)

  

2025

    

2024

    

2023

  
                         

Average outstanding balance during the period

   $ 118,987     $ 154,387     $ 123,111  

Average interest rate during the period

     2.03

%

     2.22

%

     1.70 %

Maximum outstanding at any month end during the period

   $ 151,483     $ 179,428     $ 152,991  
v3.25.4
Note 12 - Subordinated Debentures (Tables)
 12 Months Ended
Dec. 31, 2025
Notes Tables  
Schedule of Debt [Table Text Block]

(dollars in thousands)

  

Face Value

    

Carrying

Value

  

Origination

Date

  

Maturity

Date

  

Indexed Interest

Rate
                           

Commonwealth Statutory Trust III

   $ 3,093     $ 3,093  

12/19/2003

  

1/7/2034

  

SOFR + 2.85%

Commonwealth Statutory Trust IV

     12,372       12,372  

12/15/2005

  

12/30/2035

  

SOFR + 1.35%

Commonwealth Statutory Trust V

     11,341       11,341  

6/28/2007

  

9/15/2037

  

SOFR + 1.40%

Total

   $ 26,806     $ 26,806            
v3.25.4
Note 13 - FHLB Advances and Other Borrowings (Tables)
 12 Months Ended
Dec. 31, 2025
Notes Tables  
Schedule of Maturities and Average Effective Interest Rates of Federal Home Loan Bank Advances Disclosure [Table Text Block]

December 31, (dollars in thousands)

  

2025

    

2024

  

Outstanding balance at end of period

   $ 300,000     $ 300,000  

Weighted average interest rate at end of period

     3.85

%

     3.77

%
v3.25.4
Note 14 - Accumulated Other Comprehensive Income (Loss) (Tables)
 12 Months Ended
Dec. 31, 2025
Notes Tables  
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]
   

Net unrealized

    

Net unrealized

    

Minimum

          
   

gains (losses)

    

gains (losses)

    

pension

          
   

on AFS

    

on cash

    

liability

          

(in thousands)

  

debt securities

    

flow hedges

    

adjustment

    

Total

  
                                 

Balance, January 1, 2023

   $ (115,648 )   $ -     $ 112     $ (115,536 )

Net current period other comprehensive income (loss)

     22,970       (179 )     (53 )     22,738  

Balance, December 31, 2023

   $ (92,678 )   $ (179 )   $ 59     $ (92,798 )
                                 

Balance, January 1, 2024

   $ (92,678 )   $ (179 )   $ 59     $ (92,798 )

Net current period other comprehensive income (loss)

     (1,512 )     3,101       58       1,647  

Balance, December 31, 2024

   $ (94,190 )   $ 2,922     $ 117     $ (91,151 )
                                 

Balance, January 1, 2025

   $ (94,190 )   $ 2,922     $ 117     $ (91,151 )

Net current period other comprehensive income (loss)

     34,365       (4,415 )     (74 )     29,876  

Balance, December 31, 2025

   $ (59,825 )   $ (1,493 )   $ 43     $ (61,275 )
v3.25.4
Note 16 - Net Income Per Share (Tables)
 12 Months Ended
Dec. 31, 2025
Notes Tables  
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

(in thousands, except per share data)

                        

Years Ended December 31,

  

2025

    

2024

    

2023

  
                         

Net income available to stockholders

   $ 140,150     $ 114,539     $ 107,748  
                         

Weighted average shares outstanding - basic

     29,363       29,288       29,212  

Dilutive shares

     144       133       131  

Weighted average shares outstanding - diluted

     29,507       29,421       29,343  
                         

Net income per share - basic

   $ 4.77     $ 3.91     $ 3.69  

Net income per share - diluted

   $ 4.75     $ 3.89     $ 3.67  
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]

Years Ended December 31, (shares in thousands)

  

2025

    

2024

    

2023

  

Antidilutive SARs

     31       96       94  
v3.25.4
Note 17 - Employee Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2025
Notes Tables  
Schedule of Expected Benefit Payments [Table Text Block]

(in thousands)

        

2026

   $ 219  

2027

     219  

2028

     219  

2029

     219  

2030

     219  

2031 and thereafter

     653  

Total future payments

   $ 1,748  
v3.25.4
Note 18 - Stock-based Compensation (Tables)
 12 Months Ended
Dec. 31, 2025
Notes Tables  
Schedule of Share-based Compensation Arrangement by Share-based Payment Award Fair Value Assumptions and Methodology [Table Text Block]
   

2025

    

2024

    

2023

  
                         

Dividend yield

     2.26 %     2.29 %     2.24 %

Expected volatility

     29.29 %     28.43 %     27.20 %

Risk free interest rate

     4.42 %     4.16 %     3.84 %

Expected life (in years)

     7.8       7.1       7.1  
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block]
   

Year Ended December 31, 2025

  

(in thousands)

  

Stock

Appreciation

Rights

    

Restricted

Stock Awards

    

Restricted

Stock Units

    

Performance

Stock Units

    

Total

  
                                         

Expense

   $ 443     $ 1,914     $ 512     $ 1,539     $ 4,408  

Deferred tax benefit

     (93 )     (402 )     (107 )     (323 )     (925 )

Total net expense

   $ 350     $ 1,512     $ 405     $ 1,216     $ 3,483  
   

Year Ended December 31, 2024

  

(in thousands)

  

Stock

Appreciation

Rights

    

Restricted

Stock Awards

    

Restricted

Stock Units

    

Performance

Stock Units

    

Total

  
                                         

Expense

   $ 284     $ 1,699     $ 501     $ 1,289     $ 3,773  

Deferred tax benefit

     (60 )     (357 )     (105 )     (271 )     (793 )

Total net expense

   $ 224     $ 1,342     $ 396     $ 1,018     $ 2,980  
   

Year Ended December 31, 2023

  

(in thousands)

  

Stock

Appreciation

Rights

    

Restricted

Stock Awards

    

Restricted

Stock Units

    

Performance

Stock Units

    

Total

  
                                         

Expense

   $ 492     $ 1,599     $ 519     $ 1,854     $ 4,464  

Deferred tax benefit

     (104 )     (336 )     (109 )     (390 )     (939 )

Total net expense

   $ 388     $ 1,263     $ 410     $ 1,464     $ 3,525  
Share-Based Payment Arrangement, Nonvested Award, Cost [Table Text Block]

(in thousands)

Year Ended

  

Stock

Appreciation

Rights

    

Restricted

Stock Awards

    

Restricted

Stock Units

    

Performance

Stock Units

    

Total

  
                                         

2026

   $ 410     $ 1,703     $ 1     $ 1,209     $ 3,323  

2027

     340       1,412       —       1,209       2,961  

2028

     250       1,024       —       —       1,274  

2029

     135       657       —       —       792  

2030

     16       109       —       —       125  

Total estimated expense

   $ 1,151     $ 4,905     $ 1     $ 2,418     $ 8,475  
Share-Based Payment Arrangement, Option and Stock Appreciation Rights, Activity [Table Text Block]
                                           

Weighted

  
                   

Weighted

            

Weighted

    

average

  
                   

average

    

Aggregate

    

average

    

remaining

  
           

Exercise

    

exercise

    

intrinsic

    

fair

    

contractual

  

(in thousands, except per share and years)

  

SARs

    

price

    

price

    

value(1)

    

value

    

life (in years)

  
                                                 

Outstanding, January 1, 2023

     435    

 

 $19.37 - $74.92     $ 35.60     $ 12,784     $ 6.02       5.1  

Granted

     29       60.76 - 60.76       60.76       —       16.81          

Exercised

     (24 )     19.37 - 19.37       19.37       681       3.58          

Forfeited

     —       —       —       —       —          

Outstanding, December 31, 2023

     440    

 

 $19.44 - $74.92     $ 38.11     $ 6,297     $ 6.86       4.7  
                                                 

Outstanding, January 1, 2024

     440    

 

 $19.44 - $74.92     $ 38.11     $ 6,297     $ 6.86       4.7  

Granted

     42       47.95 - 54.92       49.20       —       13.75          

Exercised

     (142 )     22.96 - 40.00       28.74       5,617       4.51          

Forfeited

     —       —       —       —       —          

Outstanding, December 31, 2024

     340    

 

 $25.76 - $74.92     $ 43.41     $ 9,774     $ 8.69       5.3  
                                                 

Outstanding, January 1, 2025

     340    

 

 $25.76 - $74.92     $ 43.41     $ 9,774     $ 8.69       5.3  

Granted

     26       67.85 - 75.21       74.93       —       23.63          

Exercised

     (28 )     25.76 - 40.00       29.67       1,332       4.32          

Forfeited

     —       —       —       —       —          

Outstanding, December 31, 2025

     338    

 

 $35.90 - $75.21     $ 46.98     $ 6,354     $ 10.21       5.0  
                                                 

Vested and exercisable

     245    

 

 $35.90 - $74.92     $ 42.30     $ 5,565     $ 7.78       3.9  

Unvested

     93       47.17 - 75.21       59.32       789       16.61       3.2  

Outstanding, December 31, 2025

     338    

 

 $35.90 - $75.21     $ 46.98     $ 6,354     $ 10.21       5.0  
                                                 

Vested in the current year

     33    

 

 $36.65 - $74.92     $ 49.39     $ 519     $ 11.30          
Schedule of Share-based Compensation, Stock Options and Stock Appreciation Rights, Award Expiration Period [Table Text Block]

(in thousands, except per share data)

                  

Expiration Year

  

SARs

outstanding

    

SARs vested and

exercisable

    

Weighted average

exercise price

  

2026

     -       -     $ -  

2027

     16       16       40.00  

2028

     68       68       38.10  

2029

     47       47       37.06  

2030

     46       46       37.30  

2031

     31       25       50.50  

2032

     34       22       55.45  

2033

     29       13       60.76  

2034

     41       8       49.20  

2035

     26       -       79.93  
      338       245     $ 46.98  
Schedule of Nonvested Share Activity [Table Text Block]
           

Weighted

  
           

average cost

  

(in thousands, except per share data)

  

RSAs

    

at grant date

  
                 

Unvested at January 1, 2023

     96     $ 47.26  

Shares awarded

     38       63.04  

Restrictions lapsed and shares vested

     (33 )     43.77  

Shares canceled

     (3 )     53.38  

Unvested at December 31, 2023

     98     $ 54.23  
                 

Unvested at January 1, 2024

     98     $ 54.23  

Shares awarded

     46       52.06  

Restrictions lapsed and shares vested

     (33 )     49.49  

Shares canceled

     (9 )     53.10  

Unvested at December 31, 2024

     102     $ 54.92  
                 

Unvested at January 1, 2025

     102     $ 54.92  

Shares awarded

     42       75.34  

Restrictions lapsed and shares vested

     (32 )     51.92  

Shares canceled

     (6 )     61.89  

Unvested at December 31, 2025

     106     $ 62.49  
Share-Based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block]

Grant

Year

  

Vesting

Period in

Years

    

Fair Value

    

Shares Expected

to be Awarded

  

2023

     3     $ 54.33       18,762  

2024

     3       41.84       49,957  

2025

     3       67.61       53,254  
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares to be Issued Upon Exercise and Remaining Shares Available for Future Issuance [Table Text Block]
   

Number of

            

Shares

  
   

shares to be

    

Weighted

    

available for

  
   

issued upon

    

average

    

future

  

Plan category (in thousands)

  

exercising/vesting

    

exercise price

    

issuance (a)

  
                         

Equity compensation plans approved by security holders:

                        

Stock Appreciation Rights

  

(b)

    

(b)

       953  

Restricted Stock Awards

     106       N/A    

(a)

  

Restricted Stock Units

     7       N/A    

(a)

  

Performance Stock Units

  

(c)

       N/A    

(a)

  

Total shares

     113               953  
v3.25.4
Note 20 - Commitments and Contingent Liabilities (Tables)
 12 Months Ended
Dec. 31, 2025
Notes Tables  
Schedule of Off Balance Sheet Commitments to Extend Credit [Table Text Block]

December 31, (in thousands)

  

2025

    

2024

  

Commercial and industrial

   $ 811,568     $ 876,503  

Construction and development

     639,190       566,045  

Home equity

     429,070       403,461  

Credit cards

     90,673       92,060  

Overdrafts

     54,863       58,078  

Standby letters of credit

     28,410       30,472  

Other

     99,462       86,010  

Future loan commitments

     177,135       325,613  

Total off balance sheet commitments to extend credit

   $ 2,330,371     $ 2,438,242  
v3.25.4
Note 21 - Assets and Liabilities Measured and Reported at Fair Value (Tables)
 12 Months Ended
Dec. 31, 2025
Notes Tables  
Fair Value, Assets Measured on Recurring Basis [Table Text Block]
   

Fair Value Measurements Using:

    

Total

  

December 31, 2025 (in thousands)

  

Level 1

    

Level 2

    

Level 3

    

Fair Value

  

Assets:

                                

Available for sale debt securities:

                                

Government sponsored enterprise obligations

   $ —     $ 72,819     $ —     $ 72,819  

Mortgage backed securities

     —       535,007       —       535,007  

Obligations of states and political subdivisions

     —       113,754       —       113,754  

Other

     —       531       —       531  

Total available for sale debt securities

   $ —       722,111       —       722,111  
                                 

Mortgage loans held for sale

     —       6,247       —       6,247  

Rate lock loan commitments

     —       333       —       333  

Interest rate swap assets

     —       4,501       —       4,501  

Total assets

   $ —     $ 733,192     $ —     $ 733,192  
                                 

Liabilities:

                                

Interest rate swap liabilities

   $ —     $ 6,319     $ —     $ 6,319  

Mandatory forward contracts

     —       49       —       49  

Total liabilities

   $ —     $ 6,368     $ —     $ 6,368  
   

Fair Value Measurements Using:

    

Total

  

December 31, 2024 (in thousands)

  

Level 1

    

Level 2

    

Level 3

    

Fair Value

  

Assets:

                                

Available for sale debt securities:

                                

U.S. Treasury and other U.S. Government obligations

   $ 198,215     $ —     $ —     $ 198,215  

Government sponsored enterprise obligations

     —       84,158       —       84,158  

Mortgage backed securities

     —       590,977       —       590,977  

Obligations of states and political subdivisions

     —       114,234       —       114,234  

Other

     —       2,530       —       2,530  

Total available for sale debt securities

     198,215       791,899       —       990,114  
                                 

Mortgage loans held for sale

     —       6,286       —       6,286  

Rate lock loan commitments

     —       255       —       255  

Mandatory forward contracts

     —       56       —       56  

Interest rate swap assets

     —       12,437       —       12,437  

Total assets

   $ 198,215     $ 810,933     $ —     $ 1,009,148  
                                 

Liabilities:

                                

Interest rate swap liabilities

   $ —     $ 8,589     $ —     $ 8,589  
Fair Value Measurements, Nonrecurring [Table Text Block]

(in thousands)

  

Fair Value Measurement Using:

          

December 31, 2025

  

Level 1

    

Level 2

    

Level 3

    

Total Fair Value

  
                                 

Collateral dependent loans

   $ —     $ —     $ 14,684     $ 14,684  

Other real estate owned

     —       —       190       190  

(in thousands)

  

Fair Value Measurement Using:

          

December 31, 2024

  

Level 1

    

Level 2

    

Level 3

    

Total Fair Value

  
                                 

Collateral dependent loans

   $ —     $ —     $ 12,227     $ 12,227  

(in thousands)

  

Fair Value Measurement Using:

          

December 31, 2023

  

Level 1

    

Level 2

    

Level 3

    

Total Fair Value

  
                                 

Collateral dependent loans

   $ —     $ —     $ 13,561     $ 13,561  

Other real estate owned

     —       —       10       10  
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block]
   

December 31, 2025

  

(dollars in thousands)

  

Fair Value

  

Valuation Technique

  

Unobservable Inputs

  

Weighted Average

Discount

  
                       

Collateral dependent loans

   $ 14,684  

Appraisal

  

Appraisal discounts

     22.6

%

Other real estate owned

     190  

Appraisal

  

Appraisal discounts

     15.4  
   

December 31, 2024

  

(dollars in thousands)

  

Fair Value

  

Valuation Technique

 

 Unobservable Inputs  

Weighted Average

Discount

  
                       

Collateral dependent loans

   $ 12,227  

Appraisal

 

 Appraisal discounts     15.7

%
v3.25.4
Note 22 - Disclosure of Financial Instruments Not Reported at Fair Value (Tables)
 12 Months Ended
Dec. 31, 2025
Notes Tables  
Fair Value, by Balance Sheet Grouping [Table Text Block]
   

Carrying

            

Fair Value Measurements Using:

  

December 31, 2025 (in thousands)

  

amount

    

Fair value

    

Level 1

    

Level 2

    

Level 3

  
                                         

Assets

                                        

Cash and cash equivalents

   $ 886,376     $ 886,376     $ 886,376     $ —     $ —  

HTM debt securities

     198,946       181,203       1,982       179,221       —  

Federal Home Loan Bank stock

     20,717       20,717       —       20,717       —  

Loans, net

     6,949,443       6,872,537       —       —       6,872,537  

Accrued interest receivable

     28,783       28,783       28,783       —       —  
                                         

Liabilities

                                        

Non-interest bearing deposits

   $ 1,435,846     $ 1,435,846     $ 1,435,846     $ —     $ —  

Transaction deposits

     4,618,757       4,618,757       —       4,618,757       —  

Time deposits

     1,736,534       1,740,161       —       1,740,161       —  

Securities sold under agreement to repurchase

     112,476       112,476       —       112,476       —  

Federal funds purchased

     7,289       7,289       —       7,289       —  

Subordinated debentures

     26,806       26,547       —       26,547       —  

FHLB advances

     300,000       297,101       —       297,101       —  

Accrued interest payable

     1,740       1,740       1,740       —       —  
   

Carrying

            

Fair Value Measurements Using:

  

December 31, 2024 (in thousands)

  

Amount

    

Fair Value

    

Level 1

    

Level 2

    

Level 3

  
                                         

Assets

                                        

Cash and cash equivalents

   $ 291,020     $ 291,020     $ 291,020     $ —     $ —  

HTM debt securities

     370,171       341,357       153,108       188,249       —  

Federal Home Loan Bank stock

     21,603       21,603       —       21,603       —  

Loans, net

     6,433,459       6,256,752       —       —       6,256,752  

Accrued interest receivable

     27,697       27,697       27,697       —       —  
                                         

Liabilities

                                        

Non-interest bearing deposits

   $ 1,456,138     $ 1,456,138     $ 1,456,138     $ —     $ —  

Transaction deposits

     4,472,475       4,472,475       —       4,472,475       —  

Time deposits

     1,237,788       1,236,463       —       1,236,463       —  

Securities sold under agreement to repurchase

     162,967       162,967       —       162,967       —  

Federal funds purchased

     6,525       6,525       —       6,525       —  

Subordinated debentures

     26,806       26,346       —       26,346       —  

FHLB advances

     300,000       294,848       —       294,848       —  

Accrued interest payable

     1,912       1,912       1,912       —       —  
v3.25.4
Note 23 - Mortgage Banking Activities (Tables)
 12 Months Ended
Dec. 31, 2025
Notes Tables  
Disclosure of Long-Lived Assets Held-for-Sale [Table Text Block]

Years ended December 31, (in thousands)

  

2025

    

2024

    

2023

  

Balance, beginning of period:

   $ 6,286     $ 6,056     $ 2,606  

Origination of mortgage loans held for sale

     149,329       114,773       105,912  

Loans held for sale acquired

     —       —       —  

Proceeds from the sale of mortgage loans held for sale

     (152,661 )     (116,974 )     (104,152 )

Net gain realized on sale of mortgage loans held for sale

     3,293       2,431       1,690  

Balance, end of period

   $ 6,247     $ 6,286     $ 6,056  
Interest and Other Income [Table Text Block]

Years ended December 31, (in thousands)

  

2025

    

2024

    

2023

  
                         

Net gain realized on sale of mortgage loans held for sale

   $ 3,293     $ 2,431     $ 1,690  

Net change in fair value recognized on loans held for sale

     50       (4 )     33  

Net change in fair value recognized on rate lock loan commitments

     110       41       23  

Net change in fair value recognized on forward contracts

     (458 )     219       150  

Net gain recognized

     2,995       2,687       1,896  
                         

Net loan servicing income

     3,066       3,455       4,387  

Amortization of mortgage servicing rights

     (2,386 )     (2,726 )     (2,961 )

Change in mortgage servicing rights valuation allowance

     -       -       -  

Net servicing income recognized

     680       729       1,426  
                         

Other mortgage banking income

     448       442       383  

Total mortgage banking income

   $ 4,123     $ 3,858     $ 3,705  
Changes in Carrying Amount of MSRs [Table Text Block]

Years ended December 31, (in thousands)

  

2025

    

2024

    

2023

  

Balance, beginning of period

   $ 11,333     $ 13,082     $ 15,219  

Additions for mortgage loans sold

     1,242       977       824  

Amortization

     (2,386 )     (2,726 )     (2,961 )

Impairment

     —       —       —  

Balance, end of period

   $ 10,189     $ 11,333     $ 13,082  
Mortgage Loans Held for Sale and Mortgage Banking Derivatives [Table Text Block]
   

December 31, 2025

    

December 31, 2024

  

(in thousands)

  

Notional

Amount

    

Fair Value

    

Notional

Amount

    

Fair Value

  

Included in Mortgage loans held for sale:

                                

Mortgage loans held for sale, at fair value

   $ 6,111     $ 6,247     $ 6,199     $ 6,286  
                                 

Included in other assets:

                                

Rate lock loan commitments

   $ 7,799     $ 333     $ 7,138     $ 225  

Mandatory forward contracts

     -       -       9,000       56  
                                 

Included in other liabilities:

                                

Mandatory forward contracts

   $ 10,250     $ 49     $ -     $ -  
v3.25.4
Note 24 - Derivative Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2025
Not Designated as Hedging Instrument [Member]  
Notes Tables  
Schedule of Interest Rate Derivatives [Table Text Block]
   

Assets

    

Liabilities

  
   

December 31,

   

December 31,

    

December 31,

   

December 31,

  

(dollars in thousands)

  

2025

    

2024

    

2025

    

2024

  
                                 

Notional amount

   $ 345,098     $ 244,247     $ 345,098     $ 244,247  

Weighted average maturity (years)

     4.0       5.0       4.0       5.0  

Fair value

   $ 4,428     $ 8,589     $ 4,428     $ 8,589  
                       

Fair value

  

(dollars in thousands)

            

Pay fixed

    

December 31,

  

Notional Amount

  

Maturity Date

  

Receive (variable) index

    

swap rate

    

2025

  
$ 100,000  

2/6/2028

  

USD SOFR

       3.27 %   $ 73  
  50,000  

8/6/2026

  

USD SOFR

       4.38 %     (294 )
  50,000  

8/6/2028

  

USD SOFR

       3.97 %     (888 )
  100,000  

8/6/2029

  

USD SOFR

       3.58 %     (855 )
$ 300,000                     $ (1,964 )
v3.25.4
Note 25 - Regulatory Matters (Tables)
 12 Months Ended
Dec. 31, 2025
Notes Tables  
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block]

(dollars in thousands)

  

Actual

    

Minimum for adequately

capitalized

    

Minimum for well

capitalized

  

December 31, 2025

  

Amount

    

Ratio

    

Amount

    

Ratio

    

Amount

    

Ratio

  
                                                 

Total risk-based capital (1)

                                                

Consolidated

   $ 1,057,932       13.42

%

   $ 630,800       8.00

%

  

NA

    

NA

  

Bank

     1,030,454       13.07       630,567       8.00     $ 788,209       10.00 %
                                                 

Common equity tier 1 risk-based capital (1)

                                                

Consolidated

     933,354       11.84       354,825       4.50    

NA

    

NA

  

Bank

     931,912       11.82       354,694       4.50       512,336       6.50  
                                                 

Tier 1 risk-based capital (1)

                                                

Consolidated

     959,354       12.17       473,100       6.00    

NA

    

NA

  

Bank

     931,912       11.82       472,925       6.00       630,567       8.00  
                                                 

Leverage

                                                

Consolidated

     959,354       10.30       372,695       4.00    

NA

    

NA

  

Bank

     931,912       10.01       372,449       4.00       465,561       5.00  

(dollars in thousands)

  

Actual

    

Minimum for adequately

capitalized

    

Minimum for well

capitalized

  

December 31, 2024

  

Amount

    

Ratio

    

Amount

    

Ratio

    

Amount

    

Ratio

  
                                                 

Total risk-based capital (1)

                                                

Consolidated

   $ 943,723       12.73

%

   $ 593,201       8.00

%

  

NA

    

NA

  

Bank

     918,210       12.39       593,002       8.00     $ 741,252       10.00 %
                                                 

Common equity tier 1 risk-based capital (1)

                                                

Consolidated

     828,386       11.17       333,676       4.50    

NA

    

NA

  

Bank

     828,873       11.18       333,564       4.50       481,814       6.50  
                                                 

Tier 1 risk-based capital (1)

                                                

Consolidated

     854,386       11.52       444,901       6.00    

NA

    

NA

  

Bank

     828,873       11.18       444,751       6.00       593,002       8.00  
                                                 

Leverage

                                                

Consolidated

     854,386       9.94       343,886       4.00    

NA

    

NA

  

Bank

     828,873       9.65       343,624       4.00       429,530       5.00  
v3.25.4
Note 26 - Stock Yards Bancorp, Inc. (Parent Company Only) (Tables)
 12 Months Ended
Dec. 31, 2025
Notes Tables  
Condensed Balance Sheet [Table Text Block]

Condensed Balance Sheets

                
   

December 31,

  

(in thousands)

  

2025

    

2024

  
                 

Assets

                

Cash on deposit with subsidiary bank

   $ 1,978     $ 2,481  

Investment in and receivable from subsidiaries

     1,075,061       941,769  

Other assets

     26,006       23,608  

Total assets

   $ 1,103,045     $ 967,858  
                 

Liabilities and stockholders' equity

                

Other liabilities

   $ 27,348     $ 27,382  

Total stockholders’ equity

     1,075,697       940,476  

Total liabilities and stockholders’ equity

   $ 1,103,045     $ 967,858  
Condensed Income Statement [Table Text Block]

Condensed Statements of Income

                        
                         
   

Years ended December 31,

  

(in thousands)

  

2025

    

2024

    

2023

  
                         

Income - dividends and interest from subsidiaries

   $ 41,002     $ 38,426     $ 33,965  

Other income

     1       1       110  

Less expenses

     6,575       6,503       7,458  

Income before income taxes and equity in undistributed net income of subsidiary

     34,428       31,924       26,617  

Income tax benefit

     (2,306 )     (3,323 )     (2,490 )

Income before equity in undistributed net income of subsidiary

     36,734       35,247       29,107  

Equity in undistributed net income of subsidiary

     103,416       79,292       78,641  

Net income

   $ 140,150     $ 114,539     $ 107,748  
Condensed Cash Flow Statement [Table Text Block]

Condensed Statements of Cash Flows

                        
                         
   

Years ended December 31,

  

(in thousands)

  

2025

    

2024

    

2023

  

Operating activities

                        

Net income available to stockholders

   $ 140,150     $ 114,539     $ 107,748  

Adjustments to reconcile net income to net cash provided by operating activities:

                        

Equity in undistributed net income of subsidiaries

     (103,416 )     (79,292 )     (78,641 )

Decrease (increase) in receivable from subsidiaries

     —       —       2,971  

Stock compensation expense

     4,408       3,773       4,464  

Excess tax benefits from stock- based compensation arrangements

     (604 )     (1,228 )     (644 )

Change in other assets

     (2,400 )     (2,399 )     (1,696 )

Change in other liabilities

     556       1,329       402  

Net cash provided by operating activities

     38,694       36,722       34,604  
                         

Investing activities

                        

Purchase of equity investment

     —       —       (206 )

Net cash used in investing activities

     —       —       (206 )
                         

Financing activities

                        

Repurchase of common stock

     (2,091 )     (4,217 )     (2,695 )

Cash dividends paid

     (37,106 )     (35,835 )     (34,575 )

Net cash used in financing activities

     (39,197 )     (40,052 )     (37,270 )

Net decrease in cash

     (503 )     (3,330 )     (2,872 )

Cash at beginning of year

     2,481       5,811       8,683  

Cash at end of year

   $ 1,978     $ 2,481     $ 5,811  
v3.25.4
Note 27 - Segments (Tables)
 12 Months Ended
Dec. 31, 2025
Notes Tables  
Schedule of Segment Reporting Information, by Segment [Table Text Block]
   

Commercial

                 

As of and for the Year Ended December 31, 2025 (in thousands)

  

Banking

   

WM&T

    

Total

 

Interest income

   $ 466,476     $ 1,113     $ 467,589  

Interest expense

     167,277       —       167,277  

Net interest income

     299,199       1,113       300,312  

Provision for credit losses

     6,700       —       6,700  

Net interest income after provision expense

     292,499       1,113       293,612  

Non-interest income:

                        

Wealth management and trust services

     —       42,808       42,808  

All other non-interest income

     54,140       —       54,140  

Total non-interest income

     54,140       42,808       96,948  

Non-interest expenses:

                        

Compensation and employee benefits

     112,211       19,606       131,817  

Net occupancy and equipment

     15,549       984       16,533  

Technology and communication

     17,090       2,205       19,295  

Intangible amortization

     2,290       1,368       3,658  

Other direct and indirect/allocated expenses

     38,380       2,681       41,061  

Total Non-interest expenses

     185,520       26,844       212,364  

Income before income tax expense

     161,119       17,077       178,196  

Income tax expense

     34,340       3,706       38,046  

Net income

   $ 126,779     $ 13,371     $ 140,150  
   

Commercial

                 

As of and for the Year Ended December 31, 2024 (in thousands)

  

Banking

   

WM&T

    

Total

 

Interest income

   $ 411,829     $ 1,050     $ 412,879  

Interest expense

     155,839       —       155,839  

Net interest income

     255,990       1,050       257,040  

Provision for credit losses

     9,725       —       9,725  

Net interest income after provision expense

     246,265       1,050       247,315  

Non-interest income:

                        

Wealth management and trust services

     —       42,843       42,843  

All other non-interest income

     52,387       —       52,387  

Total non-interest income

     52,387       42,843       95,230  

Non-interest expenses:

                        

Compensation and employee benefits

     103,933       17,177       121,110  

Net occupancy and equipment

     14,396       797       15,193  

Technology and communication

     16,914       2,293       19,207  

Intangible amortization

     2,965       1,520       4,485  

Other direct and indirect/allocated expenses

     36,104       2,080       38,184  

Total Non-interest expenses

     174,312       23,867       198,179  

Income before income tax expense

     124,340       20,026       144,366  

Income tax expense

     25,481       4,346       29,827  

Net income

   $ 98,859     $ 15,680     $ 114,539  
   

Commercial

                 

As of and for the Year Ended December 31, 2023 (in thousands)

  

Banking

   

WM&T

    

Total

 

Interest income

   $ 345,988     $ 708     $ 346,696  

Interest expense

     99,364       —       99,364  

Net interest income

     246,624       708       247,332  

Provision for credit losses

     13,796       —       13,796  

Net interest income after provision expense

     232,828       708       233,536  

Non-interest income:

                        

Wealth management and trust services

     —       39,802       39,802  

All other non-interest income

     52,418       —       52,418  

Total non-interest income

     52,418       39,802       92,220  

Non-interest expenses:

                        

Compensation and employee benefits

     93,680       16,647       110,327  

Net occupancy and equipment

     13,917       2,467       16,384  

Technology and communication

     15,476       1,842       17,318  

Intangible amortization

     3,014       1,672       4,686  

Other direct and indirect/allocated expenses

     37,229       1,885       39,114  

Total Non-interest expenses

     163,316       24,513       187,829  

Income before income tax expense

     121,930       15,997       137,927  

Income tax expense

     26,708       3,471       30,179  

Net income

   $ 95,222     $ 12,526     $ 107,748  
v3.25.4
Note 28 - Revenue from Contracts with Customers (Tables)
 12 Months Ended
Dec. 31, 2025
Notes Tables  
Disaggregation of Revenue [Table Text Block]
   

Year Ended December 31, 2025

  
                         

(in thousands)

  

Commercial

    

WM&T

    

Total

  
                         

Wealth management and trust services

   $ —     $ 42,808     $ 42,808  

Deposit service charges

     8,732       —       8,732  

Debit and credit card income

     19,873       —       19,873  

Treasury management fees

     11,679       —       11,679  

Mortgage banking income (1)

     4,123       —       4,123  

Net investment product sales commissions and fees

     4,221       —       4,221  

Bank owned life insurance (1)

     2,515       —       2,515  

Gain (loss) on sale of premises and equipment (1)

     72       —       72  

Other (2)

     2,925       —       2,925  

Total non-interest income

   $ 54,140     $ 42,808     $ 96,948  
   

Year Ended December 31, 2024

  
                         

(in thousands)

  

Commercial

    

WM&T

    

Total

  
                         

Wealth management and trust services

   $ —     $ 42,843     $ 42,843  

Deposit service charges

     8,906       —       8,906  

Debit and credit card income

     20,082       —       20,082  

Treasury management fees

     11,064       —       11,064  

Mortgage banking income (1)

     3,858       —       3,858  

Gain (loss) on sale of securities (1)

     —       —       —  

Net investment product sales commissions and fees

     3,571       —       3,571  

Bank owned life insurance (1)

     2,443       —       2,443  

Gain (loss) on sale of premises and equipment (1)

     (100 )     —       (100 )

Other (2)

     2,563       —       2,563  

Total non-interest income

   $ 52,387     $ 42,843     $ 95,230  
   

Year Ended December 31, 2023

  
                         

(in thousands)

  

Commercial

    

WM&T

    

Total

  
                         

Wealth management and trust services

   $ —     $ 39,802     $ 39,802  

Deposit service charges

     8,866       —       8,866  

Debit and credit card income

     19,438       —       19,438  

Treasury management fees

     10,033       —       10,033  

Mortgage banking income (1)

     3,705       —       3,705  

Gain (loss) on sale of securities (1)

     (44 )     —       (44 )

Net investment product sales commissions and fees

     3,205       —       3,205  

Bank owned life insurance (1)

     2,253       —       2,253  

Gain (loss) on sale of premises and equipment (1)

     (30 )     —       (30 )

Other (2)

     4,992       —       4,992  

Total non-interest income

   $ 52,418     $ 39,802     $ 92,220  
v3.25.4
Note 1 - Summary of Significant Accounting Policies (Details Textual)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Jan. 01, 2024
USD ($)
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Mar. 07, 2022
Number of Operating Segments 2          
Mortgage Servicing Rights, Amortization Period 7 years          
Debt Securities, Available-for-Sale, Accrued Interest, after Allowance for Credit Loss, Statement of Financial Position [Extensible Enumeration] Accrued interest receivable Accrued interest receivable        
Debt Securities, Available-for-Sale, Allowance for Credit Loss, Excluding Accrued Interest $ 0 $ 0        
Debt Securities, Held-to-Maturity, Accrued Interest, after Allowance for Credit Loss, Statement of Financial Position [Extensible Enumeration] Accrued interest receivable Accrued interest receivable        
Debt Securities, Held-to-Maturity, Allowance for Credit Loss, Excluding Accrued Interest $ 0 $ 0        
Equity, Attributable to Parent $ 1,075,697 $ 940,476   $ 858,103 $ 760,432  
Accounting Standards Update 2023-02 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]            
Equity, Attributable to Parent     $ 2,500      
Minimum [Member]            
Property, Plant and Equipment, Useful Life 3 years          
Maximum [Member]            
Property, Plant and Equipment, Useful Life 40 years          
Commonwealth [Member]            
Business Combination, Voting Equity Interest Acquired, Percentage           100.00%
v3.25.4
Note 2 - Cash and Due From Banks (Details Textual) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Federal Home Loan Bank Stock and Federal Reserve Bank Stock $ 808 $ 219
v3.25.4
Note 3 - Investment Securities (Details Textual)
 3 Months Ended 12 Months Ended
Dec. 31, 2023
USD ($)
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
 [1]
Debt Securities, Held-to-Maturity, Allowance for Credit Loss, Excluding Accrued Interest   $ 0 $ 0  
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, Nonaccrual     0  
Securities held-to-maturity, carrying value   198,946,000 370,171,000  
Debt Securities, Available-for-Sale, Accrued Interest, after Allowance for Credit Loss   4,000,000    
Debt Securities, Held-to-Maturity, Accrued Interest, after Allowance for Credit Loss     5,000,000  
Debt Securities, Available-for-Sale, Realized Gain (Loss) $ (44,000) 0 0 [1] $ (44,000)
Debt Securities, Available-for-Sale, Allowance for Credit Loss, Excluding Accrued Interest   $ 0 $ 0  
Debt Securities, Available-for-Sale, Unrealized Loss Position, Number of Positions   402 488  
Collateral Pledged [Member]        
Debt Securities, Available-for-Sale, Restricted   $ 707,000,000 $ 852,000,000  
Financial Asset, Past Due [Member]        
Securities held-to-maturity, carrying value   $ 0 $ 0  
[1] (1) Outside of the scope of ASC 606.
v3.25.4
Note 3 - Investment Securities - Available-for-sale Securities (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Securities available-for-sale, amortized cost $ 801,371 $ 1,114,961
Securities available-for-sale, unrealized gains 429 144
Securities available-for-sale, unrealized losses (79,689) (124,991)
Securities available-for-sale, fair value 722,111 990,114
US Government-sponsored Enterprises Debt Securities [Member]    
Securities available-for-sale, amortized cost 75,459 88,895
Securities available-for-sale, unrealized gains 97 110
Securities available-for-sale, unrealized losses (2,737) (4,847)
Securities available-for-sale, fair value 72,819 84,158
Mortgage-Backed Security, Issued by US Government-Sponsored Enterprise [Member]    
Securities available-for-sale, amortized cost 602,261 696,767
Securities available-for-sale, unrealized gains 322 0
Securities available-for-sale, unrealized losses (67,576) (105,790)
Securities available-for-sale, fair value 535,007 590,977
US States and Political Subdivisions Debt Securities [Member]    
Securities available-for-sale, amortized cost 123,083 128,431
Securities available-for-sale, unrealized gains 10 1
Securities available-for-sale, unrealized losses (9,339) (14,198)
Securities available-for-sale, fair value 113,754 114,234
Other Debt Obligations [Member]    
Securities available-for-sale, amortized cost 568 2,686
Securities available-for-sale, unrealized gains 0 0
Securities available-for-sale, unrealized losses (37) (156)
Securities available-for-sale, fair value $ 531 2,530
US Treasury Securities and US Government Agencies Debt Securities [Member]    
Securities available-for-sale, amortized cost   198,182
Securities available-for-sale, unrealized gains   33
Securities available-for-sale, unrealized losses   0
Securities available-for-sale, fair value   $ 198,215
v3.25.4
Note 3 - Investment Securities - Held to Maturity Securities (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Securities held-to-maturity, carrying value $ 198,946 $ 370,171
Securities held-to-maturity, gains 5 2
Securities held-to-maturity, losses (17,748) (28,816)
Securities held-to-maturity, fair value 181,203 341,357
US Treasury Securities and US Government Agencies Debt Securities [Member]    
Securities held-to-maturity, carrying value 1,994 153,850
Securities held-to-maturity, gains 0 0
Securities held-to-maturity, losses (12) (741)
Securities held-to-maturity, fair value 1,982 153,109
US Government-sponsored Enterprises Debt Securities [Member]    
Securities held-to-maturity, carrying value 22,957 25,395
Securities held-to-maturity, gains 0 0
Securities held-to-maturity, losses (1,112) (2,034)
Securities held-to-maturity, fair value 21,845 23,361
Mortgage-Backed Security, Issued by US Government-Sponsored Enterprise [Member]    
Securities held-to-maturity, carrying value 173,995 190,926
Securities held-to-maturity, gains 5 2
Securities held-to-maturity, losses (16,624) (26,041)
Securities held-to-maturity, fair value $ 157,376 $ 164,887
v3.25.4
Note 3 - Investment Securities - Securities by Contractual Maturity (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Due within one year, AFS, amortized cost $ 9,972  
Due within one year, AFS, fair value 9,926  
Due within one year, HTM, carrying value 2,691  
Due within one year, HTM, fair value 2,675  
Due after one year but within five years, AFS, amortized cost 33,386  
Due after one year but within five years, AFS, fair value 32,533  
Due after one year but within five years, HTM, carrying value 213  
Due after one year but within five years, HTM, fair value 212  
Due after five years but within 10 years, AFS, amortized cost 93,880  
Due after five years but within 10 years, AFS, fair value 85,256  
Due after five years but within 10 years, HTM, carrying value 21,661  
Due after five years but within 10 years, HTM, fair value 20,560  
Due after 10 years, AFS, amortized cost 61,872  
Due after 10 years, AFS, fair value 59,389  
Due after 10 years, HTM, carrying value 386  
Due after 10 years, HTM, fair value 380  
Mortgage-backed securities – government agencies, AFS, amortized cost 602,261  
Mortgage-backed securities – government agencies, AFS, fair value 535,007  
Mortgage backed securities - government agencies, HTM, carrying value 173,995  
Mortgage backed securities - government agencies, HTM, fair value 157,376  
Total available for sale debt securities, amortized cost 801,371 $ 1,114,961
Total available for sale debt securities, fair value 722,111 990,114
Total held to maturity debt securities, carrying value 198,946 370,171
Total held to maturity debt securities, fair value $ 181,203 $ 341,357
v3.25.4
Note 2 - Investment Securities - Securities With Unrealized Losses (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Securities available-for-sale, less than 12 months, fair value $ 1,446 $ 38,141
Securities HTM, less than 12 months, fair value 0 396
Securities available-for-sale, less than 12 months, unrealized losses (4) (792)
Securities HTM, less than 12 months, unrealized losses 0 (6)
Securities available-for-sale, 12 months or more, fair value 669,061 746,233
Securities HTM, 12 months or more, fair value 180,508 340,798
Securities available-for-sale, 12 months or more, unrealized losses (79,685) (124,199)
Securities HTM, 12 months or more, unrealized losses (17,748) (28,810)
Securities available-for-sale, fair value 670,507 784,374
Securities HTM, fair value 180,508 341,194
Securities available-for-sale, unrealized losses (79,689) (124,991)
Securities HTM, unrealized losses (17,748) (28,816)
US Government-sponsored Enterprises Debt Securities [Member]    
Securities available-for-sale, less than 12 months, fair value 0 5,801
Securities HTM, less than 12 months, fair value 0 396
Securities available-for-sale, less than 12 months, unrealized losses 0 (49)
Securities HTM, less than 12 months, unrealized losses 0 (6)
Securities available-for-sale, 12 months or more, fair value 69,880 74,478
Securities HTM, 12 months or more, fair value 21,649 22,965
Securities available-for-sale, 12 months or more, unrealized losses (2,737) (4,798)
Securities HTM, 12 months or more, unrealized losses (1,112) (2,028)
Securities available-for-sale, fair value 69,880 80,279
Securities HTM, fair value 21,649 23,361
Securities available-for-sale, unrealized losses (2,737) (4,847)
Securities HTM, unrealized losses (1,112) (2,034)
US Treasury Securities and US Government Agencies Debt Securities [Member]    
Securities HTM, less than 12 months, fair value 0 0
Securities HTM, less than 12 months, unrealized losses 0 0
Securities HTM, 12 months or more, fair value 1,982 153,109
Securities HTM, 12 months or more, unrealized losses (12) (741)
Securities HTM, fair value 1,982 153,109
Securities HTM, unrealized losses (12) (741)
Mortgage-Backed Security, Issued by US Government-Sponsored Enterprise [Member]    
Securities available-for-sale, less than 12 months, fair value 0 23,159
Securities HTM, less than 12 months, fair value 0 0
Securities available-for-sale, less than 12 months, unrealized losses 0 (579)
Securities HTM, less than 12 months, unrealized losses 0 0
Securities available-for-sale, 12 months or more, fair value 507,041 567,818
Securities HTM, 12 months or more, fair value 156,877 164,724
Securities available-for-sale, 12 months or more, unrealized losses (67,576) (105,211)
Securities HTM, 12 months or more, unrealized losses (16,624) (26,041)
Securities available-for-sale, fair value 507,041 590,977
Securities HTM, fair value 156,877 164,724
Securities available-for-sale, unrealized losses (67,576) (105,790)
Securities HTM, unrealized losses (16,624) (26,041)
US States and Political Subdivisions Debt Securities [Member]    
Securities available-for-sale, less than 12 months, fair value 1,446 9,181
Securities available-for-sale, less than 12 months, unrealized losses (4) (164)
Securities available-for-sale, 12 months or more, fair value 91,609 101,407
Securities available-for-sale, 12 months or more, unrealized losses (9,335) (14,034)
Securities available-for-sale, fair value 93,055 110,588
Securities available-for-sale, unrealized losses (9,339) (14,198)
Other Debt Obligations [Member]    
Securities available-for-sale, less than 12 months, fair value 0 0
Securities available-for-sale, less than 12 months, unrealized losses 0 0
Securities available-for-sale, 12 months or more, fair value 531 2,530
Securities available-for-sale, 12 months or more, unrealized losses (37) (156)
Securities available-for-sale, fair value 531 2,530
Securities available-for-sale, unrealized losses $ (37) $ (156)
v3.25.4
Note 4 - Loans and ACL on Loans (Details Textual)
Pure in Thousands
 12 Months Ended
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Loans and Leases Receivable, Deferred Expense (Income) $ 3,000,000 $ 3,000,000
Continuing Involvement with Transferred Financial Assets, Principal Amount Outstanding $ 2,000,000 $ 2,000,000
Financing Receivable, Accrued Interest, after Allowance for Credit Loss, Statement of Financial Position [Extensible Enumeration] Accrued interest receivable Accrued interest receivable
Financing Receivable, Accrued Interest, after Allowance for Credit Loss $ 25,000,000 $ 23,000,000
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss [1] 7,041,310,000 6,520,402,000
Financing Receivable, Nonaccrual, Interest Income 0 0
Mortgage Loans in Process of Foreclosure, Amount $ 1,000,000 $ 569,000
Financing Receivable, Modifications, Number of Contracts 0 0
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts 0 0
Asset Pledged as Collateral [Member] | Federal Home Loan Bank Advances [Member]    
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss $ 3,780,000,000 $ 3,480,000,000
[1] (1) Total loans are presented inclusive of premiums, discounts and net loan origination fees and costs. 
v3.25.4
Note 4 - Loans and ACL on Loans - Loans by Loan Portfolio Class (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Loans [1] $ 7,041,310 $ 6,520,402
Home Equity Line of Credit [Member]    
Loans 285,115 247,433
Credit Card Receivable [Member]    
Loans 25,243 24,540
Commercial Real Estate Portfolio Segment [Member]    
Loans 3,037,148 2,838,788
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member]    
Loans 1,915,252 1,835,935
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member]    
Loans 1,121,896 1,002,853
Commercial and Industrial Portfolio Segment [Member]    
Loans 1,509,489 1,438,654
Commercial and Industrial Portfolio Segment [Member] | Term [Member]    
Loans 897,576 884,399
Commercial and Industrial Portfolio Segment [Member] | Lines of Credit [Member]    
Loans 611,913 554,255
Residential Real Estate Portfolio Segment [Member]    
Loans 1,273,081 1,187,824
Residential Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member]    
Loans 391,216 382,744
Residential Real Estate Portfolio Segment [Member] | Owner Occupied [Member]    
Loans 881,865 805,080
Construction and Development [Member]    
Loans 751,897 623,005
Consumer Portfolio Segment [Member]    
Loans 142,425 144,644
Finance Leases Portfolio Segment [Member]    
Loans $ 16,912 $ 15,514
[1] (1) Total loans are presented inclusive of premiums, discounts and net loan origination fees and costs. 
v3.25.4
Note 4 - Loans and ACL for Loans - Loans to Directors and Their Associates (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Balance at beginning of period $ 97,103 $ 62,412
Effect of change in composition of related interests 16,484 22,111
New term loans 0 16,255
Repayment of term loans (8,541) (10,612)
Changes in balances of revolving lines of credit (1,384) 6,937
Balance at end of period $ 103,662 $ 97,103
v3.25.4
Note 4 - Loans and ACL on Loans - Allowance for Loan Losses (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Beginning balance $ 86,943 $ 79,374 $ 73,531
Loans, individually evaluated for impairment 21,058 30,898  
Provision for credit losses 5,550 8,800 12,471
Charge-offs (3,042) (2,776) (7,512)
Recoveries 2,416 1,545 884
Ending balance 91,867 86,943 79,374
Allowance for loans, individually evaluated for impairment 4,287 3,848  
Real Estate [Member]      
Loans, individually evaluated for impairment 20,261 26,204  
Accounts Receivable and Equipment [Member]      
Loans, individually evaluated for impairment 97 4,262  
Other Collateral [Member]      
Loans, individually evaluated for impairment 700 432  
Commercial Real Estate Portfolio Segment [Member]      
Beginning balance 24,127 33,800 33,468
Loans, individually evaluated for impairment 11,111 15,246  
Provision for credit losses 2,847 (9,785) 232
Charge-offs (137) 0 0
Recoveries 42 112 100
Ending balance 26,879 24,127 33,800
Allowance for loans, individually evaluated for impairment 1,642 1,839  
Commercial Real Estate Portfolio Segment [Member] | Real Estate [Member]      
Loans, individually evaluated for impairment 11,111 15,246  
Commercial Real Estate Portfolio Segment [Member] | Accounts Receivable and Equipment [Member]      
Loans, individually evaluated for impairment 0 0  
Commercial Real Estate Portfolio Segment [Member] | Other Collateral [Member]      
Loans, individually evaluated for impairment 0 0  
Commercial and Industrial Portfolio Segment [Member]      
Beginning balance 27,780 20,854 19,380
Loans, individually evaluated for impairment 1,691 5,427  
Provision for credit losses (59) 7,354 7,189
Charge-offs (1,025) (1,303) (5,931)
Recoveries 1,748 875 216
Ending balance 28,444 27,780 20,854
Allowance for loans, individually evaluated for impairment 711 655  
Commercial and Industrial Portfolio Segment [Member] | Real Estate [Member]      
Loans, individually evaluated for impairment 1,166 1,089  
Commercial and Industrial Portfolio Segment [Member] | Accounts Receivable and Equipment [Member]      
Loans, individually evaluated for impairment 97 4,262  
Commercial and Industrial Portfolio Segment [Member] | Other Collateral [Member]      
Loans, individually evaluated for impairment 428 76  
Residential Real Estate Portfolio Segment [Member]      
Beginning balance 19,622 13,598 10,314
Loans, individually evaluated for impairment 7,984 9,488  
Provision for credit losses (31) 6,346 3,280
Charge-offs (464) (356) (43)
Recoveries 74 34 47
Ending balance 19,201 19,622 13,598
Allowance for loans, individually evaluated for impairment 1,934 1,300  
Residential Real Estate Portfolio Segment [Member] | Real Estate [Member]      
Loans, individually evaluated for impairment 7,984 9,488  
Residential Real Estate Portfolio Segment [Member] | Accounts Receivable and Equipment [Member]      
Loans, individually evaluated for impairment 0 0  
Residential Real Estate Portfolio Segment [Member] | Other Collateral [Member]      
Loans, individually evaluated for impairment 0 0  
Construction and Development [Member]      
Beginning balance 10,981 7,593 7,186
Loans, individually evaluated for impairment 0 311  
Provision for credit losses 1,335 3,388 407
Charge-offs 0 0 0
Recoveries 0 0 0
Ending balance 12,316 10,981 7,593
Allowance for loans, individually evaluated for impairment 0 20  
Construction and Development [Member] | Real Estate [Member]      
Loans, individually evaluated for impairment 0 311  
Construction and Development [Member] | Accounts Receivable and Equipment [Member]      
Loans, individually evaluated for impairment 0 0  
Construction and Development [Member] | Other Collateral [Member]      
Loans, individually evaluated for impairment 0 0  
Consumer Portfolio Segment [Member]      
Beginning balance 2,531 1,407 1,158
Loans, individually evaluated for impairment 272 356  
Provision for credit losses 1,007 1,424 628
Charge-offs (1,103) (785) (865)
Recoveries 489 485 486
Ending balance 2,924 2,531 1,407
Allowance for loans, individually evaluated for impairment 0 34  
Consumer Portfolio Segment [Member] | Real Estate [Member]      
Loans, individually evaluated for impairment 0 0  
Consumer Portfolio Segment [Member] | Accounts Receivable and Equipment [Member]      
Loans, individually evaluated for impairment 0 0  
Consumer Portfolio Segment [Member] | Other Collateral [Member]      
Loans, individually evaluated for impairment 272 356  
Finance Leases Portfolio Segment [Member]      
Beginning balance 370 220 201
Loans, individually evaluated for impairment 0 0  
Provision for credit losses 154 150 19
Charge-offs 0 0 0
Recoveries 0 0 0
Ending balance 524 370 220
Allowance for loans, individually evaluated for impairment 0 0  
Finance Leases Portfolio Segment [Member] | Real Estate [Member]      
Loans, individually evaluated for impairment 0 0  
Finance Leases Portfolio Segment [Member] | Accounts Receivable and Equipment [Member]      
Loans, individually evaluated for impairment 0 0  
Finance Leases Portfolio Segment [Member] | Other Collateral [Member]      
Loans, individually evaluated for impairment 0 0  
Non-owner Occupied [Member] | Commercial Real Estate Portfolio Segment [Member]      
Beginning balance 13,935 22,133 22,641
Loans, individually evaluated for impairment 6,809 11,699  
Provision for credit losses (181) (8,217) (599)
Charge-offs 0 0 0
Recoveries 25 19 91
Ending balance 13,779 13,935 22,133
Allowance for loans, individually evaluated for impairment 887 1,075  
Non-owner Occupied [Member] | Commercial Real Estate Portfolio Segment [Member] | Real Estate [Member]      
Loans, individually evaluated for impairment 6,809 11,699  
Non-owner Occupied [Member] | Commercial Real Estate Portfolio Segment [Member] | Accounts Receivable and Equipment [Member]      
Loans, individually evaluated for impairment 0 0  
Non-owner Occupied [Member] | Commercial Real Estate Portfolio Segment [Member] | Other Collateral [Member]      
Loans, individually evaluated for impairment 0 0  
Non-owner Occupied [Member] | Residential Real Estate Portfolio Segment [Member]      
Beginning balance 5,154 4,282 3,597
Loans, individually evaluated for impairment 1,608 2,974  
Provision for credit losses (713) 865 683
Charge-offs (156) 0 0
Recoveries 2 7 2
Ending balance 4,287 5,154 4,282
Allowance for loans, individually evaluated for impairment 470 852  
Non-owner Occupied [Member] | Residential Real Estate Portfolio Segment [Member] | Real Estate [Member]      
Loans, individually evaluated for impairment 1,608 2,974  
Non-owner Occupied [Member] | Residential Real Estate Portfolio Segment [Member] | Accounts Receivable and Equipment [Member]      
Loans, individually evaluated for impairment 0 0  
Non-owner Occupied [Member] | Residential Real Estate Portfolio Segment [Member] | Other Collateral [Member]      
Loans, individually evaluated for impairment 0 0  
Owner Occupied [Member] | Commercial Real Estate Portfolio Segment [Member]      
Beginning balance 10,192 11,667 10,827
Loans, individually evaluated for impairment 4,302 3,547  
Provision for credit losses 3,028 (1,568) 831
Charge-offs (137) 0 0
Recoveries 17 93 9
Ending balance 13,100 10,192 11,667
Allowance for loans, individually evaluated for impairment 755 764  
Owner Occupied [Member] | Commercial Real Estate Portfolio Segment [Member] | Real Estate [Member]      
Loans, individually evaluated for impairment 4,302 3,547  
Owner Occupied [Member] | Commercial Real Estate Portfolio Segment [Member] | Accounts Receivable and Equipment [Member]      
Loans, individually evaluated for impairment 0 0  
Owner Occupied [Member] | Commercial Real Estate Portfolio Segment [Member] | Other Collateral [Member]      
Loans, individually evaluated for impairment 0 0  
Owner Occupied [Member] | Residential Real Estate Portfolio Segment [Member]      
Beginning balance 14,468 9,316 6,717
Loans, individually evaluated for impairment 6,376 6,514  
Provision for credit losses 682 5,481 2,597
Charge-offs (308) (356) (43)
Recoveries 72 27 45
Ending balance 14,914 14,468 9,316
Allowance for loans, individually evaluated for impairment 1,464 448  
Owner Occupied [Member] | Residential Real Estate Portfolio Segment [Member] | Real Estate [Member]      
Loans, individually evaluated for impairment 6,376 6,514  
Owner Occupied [Member] | Residential Real Estate Portfolio Segment [Member] | Accounts Receivable and Equipment [Member]      
Loans, individually evaluated for impairment 0 0  
Owner Occupied [Member] | Residential Real Estate Portfolio Segment [Member] | Other Collateral [Member]      
Loans, individually evaluated for impairment 0 0  
Term [Member] | Commercial and Industrial Portfolio Segment [Member]      
Beginning balance 21,284 14,359 12,991
Loans, individually evaluated for impairment 1,020 4,878  
Provision for credit losses (1,173) 7,264 3,607
Charge-offs (738) (748) (2,298)
Recoveries 1,748 409 59
Ending balance 21,121 21,284 14,359
Allowance for loans, individually evaluated for impairment 405 516  
Term [Member] | Commercial and Industrial Portfolio Segment [Member] | Real Estate [Member]      
Loans, individually evaluated for impairment 877 740  
Term [Member] | Commercial and Industrial Portfolio Segment [Member] | Accounts Receivable and Equipment [Member]      
Loans, individually evaluated for impairment 97 4,062  
Term [Member] | Commercial and Industrial Portfolio Segment [Member] | Other Collateral [Member]      
Loans, individually evaluated for impairment 46 76  
Lines of Credit [Member] | Commercial and Industrial Portfolio Segment [Member]      
Beginning balance 6,496 6,495 6,389
Loans, individually evaluated for impairment 671 549  
Provision for credit losses 1,114 90 3,582
Charge-offs (287) (555) (3,633)
Recoveries 0 466 157
Ending balance 7,323 6,496 6,495
Allowance for loans, individually evaluated for impairment 306 139  
Lines of Credit [Member] | Commercial and Industrial Portfolio Segment [Member] | Real Estate [Member]      
Loans, individually evaluated for impairment 289 349  
Lines of Credit [Member] | Commercial and Industrial Portfolio Segment [Member] | Accounts Receivable and Equipment [Member]      
Loans, individually evaluated for impairment 0 200  
Lines of Credit [Member] | Commercial and Industrial Portfolio Segment [Member] | Other Collateral [Member]      
Loans, individually evaluated for impairment 382 0  
Home Equity Line of Credit [Member]      
Beginning balance 1,277 1,660 1,613
Loans, individually evaluated for impairment 0 70  
Provision for credit losses 171 (283) 59
Charge-offs (10) (107) (12)
Recoveries 1 7 0
Ending balance 1,439 1,277 1,660
Allowance for loans, individually evaluated for impairment 0 0  
Home Equity Line of Credit [Member] | Real Estate [Member]      
Loans, individually evaluated for impairment 0 70  
Home Equity Line of Credit [Member] | Accounts Receivable and Equipment [Member]      
Loans, individually evaluated for impairment 0 0  
Home Equity Line of Credit [Member] | Other Collateral [Member]      
Loans, individually evaluated for impairment 0 0  
Credit Card Receivable [Member] | Commercial Portfolio Segment [Member]      
Beginning balance 255 242 211
Loans, individually evaluated for impairment 0 0  
Provision for credit losses 126 206 657
Charge-offs (303) (225) (661)
Recoveries 62 32 35
Ending balance 140 255 $ 242
Allowance for loans, individually evaluated for impairment 0 0  
Credit Card Receivable [Member] | Commercial Portfolio Segment [Member] | Real Estate [Member]      
Loans, individually evaluated for impairment 0 0  
Credit Card Receivable [Member] | Commercial Portfolio Segment [Member] | Accounts Receivable and Equipment [Member]      
Loans, individually evaluated for impairment 0 0  
Credit Card Receivable [Member] | Commercial Portfolio Segment [Member] | Other Collateral [Member]      
Loans, individually evaluated for impairment $ 0 $ 0  
v3.25.4
Note 4 - Loans and ACL on Loans - Non-accrual Loans (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Non-accrual with no allowance $ 1,092 $ 9,042
Non-accrual loans 12,585 21,727
Troubled Debt Restructurings, excluding non-accrual loans 449 487
Home Equity Line of Credit [Member]    
Non-accrual with no allowance 0 0
Non-accrual loans 0 70
Troubled Debt Restructurings, excluding non-accrual loans 0 91
Credit Cards [Member]    
Non-accrual with no allowance 0 0
Non-accrual loans 52 0
Troubled Debt Restructurings, excluding non-accrual loans 0 170
Commercial Real Estate Portfolio Segment [Member]    
Non-accrual with no allowance 0 4,843
Non-accrual loans 2,732 6,452
Troubled Debt Restructurings, excluding non-accrual loans 291 73
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member]    
Non-accrual with no allowance 0 4,409
Non-accrual loans 283 5,221
Troubled Debt Restructurings, excluding non-accrual loans 72 0
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member]    
Non-accrual with no allowance 0 434
Non-accrual loans 2,449 1,231
Troubled Debt Restructurings, excluding non-accrual loans 219 73
Commercial and Industrial Portfolio Segment [Member]    
Non-accrual with no allowance 348 3,828
Non-accrual loans 1,001 4,903
Troubled Debt Restructurings, excluding non-accrual loans 0 114
Commercial and Industrial Portfolio Segment [Member] | Term [Member]    
Non-accrual with no allowance 348 3,828
Non-accrual loans 819 4,903
Troubled Debt Restructurings, excluding non-accrual loans 0 95
Commercial and Industrial Portfolio Segment [Member] | Lines of Credit [Member]    
Non-accrual with no allowance 0 0
Non-accrual loans 182 0
Troubled Debt Restructurings, excluding non-accrual loans 0 19
Residential Real Estate Portfolio Segment [Member]    
Non-accrual with no allowance 724 371
Non-accrual loans 8,522 9,619
Troubled Debt Restructurings, excluding non-accrual loans 158 39
Residential Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member]    
Non-accrual with no allowance 324 0
Non-accrual loans 1,173 2,451
Troubled Debt Restructurings, excluding non-accrual loans 0 39
Residential Real Estate Portfolio Segment [Member] | Owner Occupied [Member]    
Non-accrual with no allowance 400 371
Non-accrual loans 7,349 7,168
Troubled Debt Restructurings, excluding non-accrual loans 158 0
Construction and Development [Member]    
Non-accrual with no allowance 0 0
Non-accrual loans 0 311
Troubled Debt Restructurings, excluding non-accrual loans 0 0
Consumer Portfolio Segment [Member]    
Non-accrual with no allowance 20 0
Non-accrual loans 278 372
Troubled Debt Restructurings, excluding non-accrual loans 0 0
Finance Leases Portfolio Segment [Member]    
Non-accrual with no allowance 0 0
Non-accrual loans 0 0
Troubled Debt Restructurings, excluding non-accrual loans $ 0 $ 0
v3.25.4
Note 4 - Loans and ACL on Loans - Aging of the Recorded Investment in Loans (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Loans [1] $ 7,041,310 $ 6,520,402
Commercial Real Estate Portfolio Segment [Member]    
Loans 3,037,148 2,838,788
Commercial and Industrial Portfolio Segment [Member]    
Loans 1,509,489 1,438,654
Residential Real Estate Portfolio Segment [Member]    
Loans 1,273,081 1,187,824
Construction and Development [Member]    
Loans 751,897 623,005
Consumer Portfolio Segment [Member]    
Loans 142,425 144,644
Finance Leases Portfolio Segment [Member]    
Loans 16,912 15,514
Non-owner Occupied [Member] | Commercial Real Estate Portfolio Segment [Member]    
Loans 1,915,252 1,835,935
Non-owner Occupied [Member] | Residential Real Estate Portfolio Segment [Member]    
Loans 391,216 382,744
Owner Occupied [Member] | Commercial Real Estate Portfolio Segment [Member]    
Loans 1,121,896 1,002,853
Owner Occupied [Member] | Residential Real Estate Portfolio Segment [Member]    
Loans 881,865 805,080
Term, Excluding PPP [Member] | Commercial and Industrial Portfolio Segment [Member]    
Loans 897,576 884,399
Lines of Credit [Member] | Commercial and Industrial Portfolio Segment [Member]    
Loans 611,913 554,255
Home Equity Line of Credit [Member]    
Loans 285,115 247,433
Credit Card Receivable [Member]    
Loans 25,243 24,540
Credit Card Receivable [Member] | Commercial Portfolio Segment [Member]    
Loans 25,243 24,540
Financial Asset, Not Past Due [Member]    
Loans 7,014,904 6,487,947
Financial Asset, Not Past Due [Member] | Commercial Real Estate Portfolio Segment [Member]    
Loans 3,033,741 2,832,486
Financial Asset, Not Past Due [Member] | Commercial and Industrial Portfolio Segment [Member]    
Loans 1,508,668 1,432,252
Financial Asset, Not Past Due [Member] | Residential Real Estate Portfolio Segment [Member]    
Loans 1,252,657 1,170,463
Financial Asset, Not Past Due [Member] | Construction and Development [Member]    
Loans 751,897 622,614
Financial Asset, Not Past Due [Member] | Consumer Portfolio Segment [Member]    
Loans 141,352 143,796
Financial Asset, Not Past Due [Member] | Finance Leases Portfolio Segment [Member]    
Loans 16,912 15,514
Financial Asset, Not Past Due [Member] | Non-owner Occupied [Member] | Commercial Real Estate Portfolio Segment [Member]    
Loans 1,912,951 1,831,135
Financial Asset, Not Past Due [Member] | Non-owner Occupied [Member] | Residential Real Estate Portfolio Segment [Member]    
Loans 390,148 381,177
Financial Asset, Not Past Due [Member] | Owner Occupied [Member] | Commercial Real Estate Portfolio Segment [Member]    
Loans 1,120,790 1,001,351
Financial Asset, Not Past Due [Member] | Owner Occupied [Member] | Residential Real Estate Portfolio Segment [Member]    
Loans 862,509 789,286
Financial Asset, Not Past Due [Member] | Term, Excluding PPP [Member] | Commercial and Industrial Portfolio Segment [Member]    
Loans 896,911 879,597
Financial Asset, Not Past Due [Member] | Lines of Credit [Member] | Commercial and Industrial Portfolio Segment [Member]    
Loans 611,757 552,655
Financial Asset, Not Past Due [Member] | Home Equity Line of Credit [Member]    
Loans 284,707 246,700
Financial Asset, Not Past Due [Member] | Credit Card Receivable [Member] | Commercial Portfolio Segment [Member]    
Loans 24,970 24,122
Financial Asset, 30 to 59 Days Past Due [Member]    
Loans 12,270 10,848
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member]    
Loans 2,425 816
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial and Industrial Portfolio Segment [Member]    
Loans 227 162
Financial Asset, 30 to 59 Days Past Due [Member] | Residential Real Estate Portfolio Segment [Member]    
Loans 8,617 8,365
Financial Asset, 30 to 59 Days Past Due [Member] | Construction and Development [Member]    
Loans 0 391
Financial Asset, 30 to 59 Days Past Due [Member] | Consumer Portfolio Segment [Member]    
Loans 445 470
Financial Asset, 30 to 59 Days Past Due [Member] | Finance Leases Portfolio Segment [Member]    
Loans 0 0
Financial Asset, 30 to 59 Days Past Due [Member] | Non-owner Occupied [Member] | Commercial Real Estate Portfolio Segment [Member]    
Loans 2,042 168
Financial Asset, 30 to 59 Days Past Due [Member] | Non-owner Occupied [Member] | Residential Real Estate Portfolio Segment [Member]    
Loans 103 628
Financial Asset, 30 to 59 Days Past Due [Member] | Owner Occupied [Member] | Commercial Real Estate Portfolio Segment [Member]    
Loans 383 648
Financial Asset, 30 to 59 Days Past Due [Member] | Owner Occupied [Member] | Residential Real Estate Portfolio Segment [Member]    
Loans 8,514 7,737
Financial Asset, 30 to 59 Days Past Due [Member] | Term, Excluding PPP [Member] | Commercial and Industrial Portfolio Segment [Member]    
Loans 71 103
Financial Asset, 30 to 59 Days Past Due [Member] | Lines of Credit [Member] | Commercial and Industrial Portfolio Segment [Member]    
Loans 156 59
Financial Asset, 30 to 59 Days Past Due [Member] | Home Equity Line of Credit [Member]    
Loans 369 424
Financial Asset, 30 to 59 Days Past Due [Member] | Credit Card Receivable [Member] | Commercial Portfolio Segment [Member]    
Loans 187 220
Financial Asset, 60 to 89 Days Past Due [Member]    
Loans 4,946 12,909
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member]    
Loans 151 5,125
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial and Industrial Portfolio Segment [Member]    
Loans 84 4,262
Financial Asset, 60 to 89 Days Past Due [Member] | Residential Real Estate Portfolio Segment [Member]    
Loans 4,288 3,232
Financial Asset, 60 to 89 Days Past Due [Member] | Construction and Development [Member]    
Loans 0 0
Financial Asset, 60 to 89 Days Past Due [Member] | Consumer Portfolio Segment [Member]    
Loans 350 69
Financial Asset, 60 to 89 Days Past Due [Member] | Finance Leases Portfolio Segment [Member]    
Loans 0 0
Financial Asset, 60 to 89 Days Past Due [Member] | Non-owner Occupied [Member] | Commercial Real Estate Portfolio Segment [Member]    
Loans 151 4,410
Financial Asset, 60 to 89 Days Past Due [Member] | Non-owner Occupied [Member] | Residential Real Estate Portfolio Segment [Member]    
Loans 151 56
Financial Asset, 60 to 89 Days Past Due [Member] | Owner Occupied [Member] | Commercial Real Estate Portfolio Segment [Member]    
Loans 0 715
Financial Asset, 60 to 89 Days Past Due [Member] | Owner Occupied [Member] | Residential Real Estate Portfolio Segment [Member]    
Loans 4,137 3,176
Financial Asset, 60 to 89 Days Past Due [Member] | Term, Excluding PPP [Member] | Commercial and Industrial Portfolio Segment [Member]    
Loans 84 2,740
Financial Asset, 60 to 89 Days Past Due [Member] | Lines of Credit [Member] | Commercial and Industrial Portfolio Segment [Member]    
Loans 0 1,522
Financial Asset, 60 to 89 Days Past Due [Member] | Home Equity Line of Credit [Member]    
Loans 39 194
Financial Asset, 60 to 89 Days Past Due [Member] | Credit Card Receivable [Member] | Commercial Portfolio Segment [Member]    
Loans 34 27
Financial Asset, Equal to or Greater than 90 Days Past Due [Member]    
Loans 9,190 8,698
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member]    
Loans 831 361
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial and Industrial Portfolio Segment [Member]    
Loans 510 1,978
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Residential Real Estate Portfolio Segment [Member]    
Loans 7,519 5,764
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Construction and Development [Member]    
Loans 0 0
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Consumer Portfolio Segment [Member]    
Loans 278 309
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Finance Leases Portfolio Segment [Member]    
Loans 0 0
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Non-owner Occupied [Member] | Commercial Real Estate Portfolio Segment [Member]    
Loans 108 222
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Non-owner Occupied [Member] | Residential Real Estate Portfolio Segment [Member]    
Loans 814 883
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Owner Occupied [Member] | Commercial Real Estate Portfolio Segment [Member]    
Loans 723 139
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Owner Occupied [Member] | Residential Real Estate Portfolio Segment [Member]    
Loans 6,705 4,881
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Term, Excluding PPP [Member] | Commercial and Industrial Portfolio Segment [Member]    
Loans 510 1,959
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Lines of Credit [Member] | Commercial and Industrial Portfolio Segment [Member]    
Loans 0 19
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Home Equity Line of Credit [Member]    
Loans 0 115
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Credit Card Receivable [Member] | Commercial Portfolio Segment [Member]    
Loans 52 171
Financial Asset, Past Due [Member]    
Loans 26,406 32,455
Financial Asset, Past Due [Member] | Commercial Real Estate Portfolio Segment [Member]    
Loans 3,407 6,302
Financial Asset, Past Due [Member] | Commercial and Industrial Portfolio Segment [Member]    
Loans 821 6,402
Financial Asset, Past Due [Member] | Residential Real Estate Portfolio Segment [Member]    
Loans 20,424 17,361
Financial Asset, Past Due [Member] | Construction and Development [Member]    
Loans 0 391
Financial Asset, Past Due [Member] | Consumer Portfolio Segment [Member]    
Loans 1,073 848
Financial Asset, Past Due [Member] | Finance Leases Portfolio Segment [Member]    
Loans 0 0
Financial Asset, Past Due [Member] | Non-owner Occupied [Member] | Commercial Real Estate Portfolio Segment [Member]    
Loans 2,301 4,800
Financial Asset, Past Due [Member] | Non-owner Occupied [Member] | Residential Real Estate Portfolio Segment [Member]    
Loans 1,068 1,567
Financial Asset, Past Due [Member] | Owner Occupied [Member] | Commercial Real Estate Portfolio Segment [Member]    
Loans 1,106 1,502
Financial Asset, Past Due [Member] | Owner Occupied [Member] | Residential Real Estate Portfolio Segment [Member]    
Loans 19,356 15,794
Financial Asset, Past Due [Member] | Term, Excluding PPP [Member] | Commercial and Industrial Portfolio Segment [Member]    
Loans 665 4,802
Financial Asset, Past Due [Member] | Lines of Credit [Member] | Commercial and Industrial Portfolio Segment [Member]    
Loans 156 1,600
Financial Asset, Past Due [Member] | Home Equity Line of Credit [Member]    
Loans 408 733
Financial Asset, Past Due [Member] | Credit Card Receivable [Member] | Commercial Portfolio Segment [Member]    
Loans $ 273 $ 418
[1] (1) Total loans are presented inclusive of premiums, discounts and net loan origination fees and costs. 
v3.25.4
Note 4 - Loans and ACL on Loans - Internally Assigned Risk Grades of Loans (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Current Fiscal Year $ 1,568,610 $ 1,536,103  
Fiscal Year before Current Fiscal Year 1,275,823 1,142,216  
Two Years before Current Fiscal Year 1,040,626 1,157,132  
Three Years before Current Fiscal Year 883,154 856,207  
Four Years before Current Fiscal Year 715,211 515,529  
More than Five Years before Current Fiscal Year 660,423 485,235  
Revolving 897,463 827,980  
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss [1] 7,041,310 6,520,402  
Current period gross charge offs, current fiscal year (882) (1,054)  
Current period gross charge, Fiscal Year before Current Fiscal Year offs (671) (618)  
Current period gross charge offs, Two Years before Current Fiscal Year (680) (573)  
Current period gross charge offs, Three Years before Current Fiscal Year (130) (119)  
Current period gross charge offs, Four Years before Current Fiscal Year (35) (9)  
Current period gross charge offs, More than Five Years before Current Fiscal Year (44) (52)  
Current period gross charge offs, Revolving (600) (351)  
Charge-offs (3,042) (2,776) $ (7,512)
Pass [Member]      
Current Fiscal Year 1,541,895 1,489,363  
Fiscal Year before Current Fiscal Year 1,254,986 1,121,456  
Two Years before Current Fiscal Year 1,017,725 1,146,557  
Three Years before Current Fiscal Year 867,695 835,159  
Four Years before Current Fiscal Year 698,672 512,657  
More than Five Years before Current Fiscal Year 646,791 461,121  
Revolving 862,824 791,701  
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 6,890,588 6,358,014  
Special Mention [Member]      
Current Fiscal Year 19,111 30,737  
Fiscal Year before Current Fiscal Year 16,690 4,995  
Two Years before Current Fiscal Year 13,786 1,978  
Three Years before Current Fiscal Year 7,892 12,752  
Four Years before Current Fiscal Year 8,979 2,407  
More than Five Years before Current Fiscal Year 11,333 17,090  
Revolving 13,955 10,750  
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 91,746 80,709  
Substandard [Member] | Performing Financial Instruments [Member]      
Current Fiscal Year 5,417 9,265  
Fiscal Year before Current Fiscal Year 2,156 10,234  
Two Years before Current Fiscal Year 5,405 6,574  
Three Years before Current Fiscal Year 5,273 7,215  
Four Years before Current Fiscal Year 6,846 71  
More than Five Years before Current Fiscal Year 662 1,134  
Revolving 20,632 25,459  
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 46,391 59,952  
Substandard [Member] | Nonperforming Financial Instruments [Member]      
Current Fiscal Year 2,187 6,738  
Fiscal Year before Current Fiscal Year 1,991 5,531  
Two Years before Current Fiscal Year 3,710 2,023  
Three Years before Current Fiscal Year 2,294 1,081  
Four Years before Current Fiscal Year 714 394  
More than Five Years before Current Fiscal Year 1,637 5,890  
Revolving 52 70  
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 12,585 21,727  
Doubtful [Member]      
Current Fiscal Year 0 0  
Fiscal Year before Current Fiscal Year 0 0  
Two Years before Current Fiscal Year 0 0  
Three Years before Current Fiscal Year 0 0  
Four Years before Current Fiscal Year 0 0  
More than Five Years before Current Fiscal Year 0 0  
Revolving 0 0  
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 0 0  
Credit Card Receivable [Member]      
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 25,243 24,540  
Commercial Real Estate Portfolio Segment [Member]      
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 3,037,148 2,838,788  
Charge-offs (137) 0 0
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member]      
Current Fiscal Year 490,562 428,605  
Fiscal Year before Current Fiscal Year 311,340 295,423  
Two Years before Current Fiscal Year 335,150 404,401  
Three Years before Current Fiscal Year 306,909 302,450  
Four Years before Current Fiscal Year 245,326 200,703  
More than Five Years before Current Fiscal Year 204,492 175,671  
Revolving 21,473 28,682  
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 1,915,252 1,835,935  
Current period gross charge offs, current fiscal year 0 0  
Current period gross charge, Fiscal Year before Current Fiscal Year offs 0 0  
Current period gross charge offs, Two Years before Current Fiscal Year 0 0  
Current period gross charge offs, Three Years before Current Fiscal Year 0 0  
Current period gross charge offs, Four Years before Current Fiscal Year 0 0  
Current period gross charge offs, More than Five Years before Current Fiscal Year 0 0  
Current period gross charge offs, Revolving 0 0  
Charge-offs 0 0 0
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Pass [Member]      
Current Fiscal Year 473,903 416,310  
Fiscal Year before Current Fiscal Year 308,918 293,890  
Two Years before Current Fiscal Year 322,311 402,081  
Three Years before Current Fiscal Year 304,074 291,741  
Four Years before Current Fiscal Year 234,941 199,039  
More than Five Years before Current Fiscal Year 198,207 157,303  
Revolving 21,473 28,584  
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 1,863,827 1,788,948  
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Special Mention [Member]      
Current Fiscal Year 16,521 10,480  
Fiscal Year before Current Fiscal Year 2,271 1,533  
Two Years before Current Fiscal Year 11,620 0  
Three Years before Current Fiscal Year 2,240 10,709  
Four Years before Current Fiscal Year 7,638 1,664  
More than Five Years before Current Fiscal Year 5,945 13,191  
Revolving 0 0  
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 46,235 37,577  
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Substandard [Member] | Performing Financial Instruments [Member]      
Current Fiscal Year 138 1,546  
Fiscal Year before Current Fiscal Year 0 0  
Two Years before Current Fiscal Year 1,219 2,320  
Three Years before Current Fiscal Year 595 0  
Four Years before Current Fiscal Year 2,747 0  
More than Five Years before Current Fiscal Year 208 225  
Revolving 0 98  
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 4,907 4,189  
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Substandard [Member] | Nonperforming Financial Instruments [Member]      
Current Fiscal Year 0 269  
Fiscal Year before Current Fiscal Year 151 0  
Two Years before Current Fiscal Year 0 0  
Three Years before Current Fiscal Year 0 0  
Four Years before Current Fiscal Year 0 0  
More than Five Years before Current Fiscal Year 132 4,952  
Revolving 0 0  
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 283 5,221  
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Doubtful [Member]      
Current Fiscal Year 0 0  
Fiscal Year before Current Fiscal Year 0 0  
Two Years before Current Fiscal Year 0 0  
Three Years before Current Fiscal Year 0 0  
Four Years before Current Fiscal Year 0 0  
More than Five Years before Current Fiscal Year 0 0  
Revolving 0 0  
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 0 0  
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member]      
Current Fiscal Year 214,359 147,322  
Fiscal Year before Current Fiscal Year 150,200 173,648  
Two Years before Current Fiscal Year 179,247 177,734  
Three Years before Current Fiscal Year 173,141 180,868  
Four Years before Current Fiscal Year 172,326 157,736  
More than Five Years before Current Fiscal Year 215,839 143,533  
Revolving 16,784 22,012  
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 1,121,896 1,002,853  
Current period gross charge offs, current fiscal year 0 0  
Current period gross charge, Fiscal Year before Current Fiscal Year offs (99) 0  
Current period gross charge offs, Two Years before Current Fiscal Year 0 0  
Current period gross charge offs, Three Years before Current Fiscal Year (38) 0  
Current period gross charge offs, Four Years before Current Fiscal Year 0 0  
Current period gross charge offs, More than Five Years before Current Fiscal Year 0 0  
Current period gross charge offs, Revolving 0 0  
Charge-offs (137) 0 0
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Pass [Member]      
Current Fiscal Year 206,283 133,404  
Fiscal Year before Current Fiscal Year 143,496 163,452  
Two Years before Current Fiscal Year 173,577 172,933  
Three Years before Current Fiscal Year 165,211 174,638  
Four Years before Current Fiscal Year 167,487 156,955  
More than Five Years before Current Fiscal Year 210,266 139,919  
Revolving 16,784 22,012  
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 1,083,104 963,313  
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Special Mention [Member]      
Current Fiscal Year 1,613 6,292  
Fiscal Year before Current Fiscal Year 4,308 273  
Two Years before Current Fiscal Year 1,774 1,145  
Three Years before Current Fiscal Year 4,632 1,856  
Four Years before Current Fiscal Year 1,264 715  
More than Five Years before Current Fiscal Year 5,225 3,385  
Revolving 0 0  
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 18,816 13,666  
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Substandard [Member] | Performing Financial Instruments [Member]      
Current Fiscal Year 5,279 7,192  
Fiscal Year before Current Fiscal Year 2,156 9,923  
Two Years before Current Fiscal Year 3,896 3,656  
Three Years before Current Fiscal Year 3,140 3,643  
Four Years before Current Fiscal Year 2,861 0  
More than Five Years before Current Fiscal Year 195 229  
Revolving 0 0  
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 17,527 24,643  
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Substandard [Member] | Nonperforming Financial Instruments [Member]      
Current Fiscal Year 1,184 434  
Fiscal Year before Current Fiscal Year 240 0  
Two Years before Current Fiscal Year 0 0  
Three Years before Current Fiscal Year 158 731  
Four Years before Current Fiscal Year 714 66  
More than Five Years before Current Fiscal Year 153 0  
Revolving 0 0  
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 2,449 1,231  
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Doubtful [Member]      
Current Fiscal Year 0 0  
Fiscal Year before Current Fiscal Year 0 0  
Two Years before Current Fiscal Year 0 0  
Three Years before Current Fiscal Year 0 0  
Four Years before Current Fiscal Year 0 0  
More than Five Years before Current Fiscal Year 0 0  
Revolving 0 0  
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 0 0  
Residential Real Estate Portfolio Segment [Member]      
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 1,273,081 1,187,824  
Charge-offs (464) (356) (43)
Residential Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member]      
Current Fiscal Year 79,805 81,456  
Fiscal Year before Current Fiscal Year 66,030 67,662  
Two Years before Current Fiscal Year 55,550 72,794  
Three Years before Current Fiscal Year 64,357 70,602  
Four Years before Current Fiscal Year 61,721 41,874  
More than Five Years before Current Fiscal Year 63,753 48,356  
Revolving 0 0  
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 391,216 382,744  
Current period gross charge offs, current fiscal year 0 0  
Current period gross charge, Fiscal Year before Current Fiscal Year offs (150) 0  
Current period gross charge offs, Two Years before Current Fiscal Year (3) 0  
Current period gross charge offs, Three Years before Current Fiscal Year 0 0  
Current period gross charge offs, Four Years before Current Fiscal Year 0 0  
Current period gross charge offs, More than Five Years before Current Fiscal Year (3) 0  
Current period gross charge offs, Revolving 0 0  
Charge-offs (156) 0 0
Residential Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Pass [Member]      
Current Fiscal Year 79,805 80,717  
Fiscal Year before Current Fiscal Year 66,030 66,330  
Two Years before Current Fiscal Year 54,464 72,580  
Three Years before Current Fiscal Year 64,198 70,585  
Four Years before Current Fiscal Year 61,721 41,874  
More than Five Years before Current Fiscal Year 63,348 47,578  
Revolving 0 0  
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 389,566 379,664  
Residential Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Special Mention [Member]      
Current Fiscal Year 0 0  
Fiscal Year before Current Fiscal Year 0 0  
Two Years before Current Fiscal Year 0 0  
Three Years before Current Fiscal Year 0 0  
Four Years before Current Fiscal Year 0 0  
More than Five Years before Current Fiscal Year 163 514  
Revolving 0 0  
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 163 514  
Residential Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Substandard [Member] | Performing Financial Instruments [Member]      
Current Fiscal Year 0 0  
Fiscal Year before Current Fiscal Year 0 0  
Two Years before Current Fiscal Year 208 0  
Three Years before Current Fiscal Year 0 0  
Four Years before Current Fiscal Year 0 0  
More than Five Years before Current Fiscal Year 106 115  
Revolving 0 0  
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 314 115  
Residential Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Substandard [Member] | Nonperforming Financial Instruments [Member]      
Current Fiscal Year 0 739  
Fiscal Year before Current Fiscal Year 0 1,332  
Two Years before Current Fiscal Year 878 214  
Three Years before Current Fiscal Year 159 17  
Four Years before Current Fiscal Year 0 0  
More than Five Years before Current Fiscal Year 136 149  
Revolving 0 0  
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 1,173 2,451  
Residential Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Doubtful [Member]      
Current Fiscal Year 0 0  
Fiscal Year before Current Fiscal Year 0 0  
Two Years before Current Fiscal Year 0 0  
Three Years before Current Fiscal Year 0 0  
Four Years before Current Fiscal Year 0 0  
More than Five Years before Current Fiscal Year 0 0  
Revolving 0 0  
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 0 0  
Residential Real Estate Portfolio Segment [Member] | Owner Occupied [Member]      
Current Fiscal Year 167,465 162,443  
Fiscal Year before Current Fiscal Year 148,525 158,536  
Two Years before Current Fiscal Year 139,043 167,539  
Three Years before Current Fiscal Year 154,031 159,852  
Four Years before Current Fiscal Year 140,197 77,525  
More than Five Years before Current Fiscal Year 132,604 79,185  
Revolving 0 0  
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 881,865 805,080  
Current period gross charge offs, current fiscal year (25) 0  
Current period gross charge, Fiscal Year before Current Fiscal Year offs 0 (349)  
Current period gross charge offs, Two Years before Current Fiscal Year (252) 0  
Current period gross charge offs, Three Years before Current Fiscal Year 0 0  
Current period gross charge offs, Four Years before Current Fiscal Year (26) 0  
Current period gross charge offs, More than Five Years before Current Fiscal Year (5) (7)  
Current period gross charge offs, Revolving 0 0  
Charge-offs (308) (356) (43)
Residential Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Pass [Member]      
Current Fiscal Year 166,712 161,257  
Fiscal Year before Current Fiscal Year 147,066 154,799  
Two Years before Current Fiscal Year 136,367 166,127  
Three Years before Current Fiscal Year 152,065 159,449  
Four Years before Current Fiscal Year 140,120 77,516  
More than Five Years before Current Fiscal Year 131,827 78,169  
Revolving 0 0  
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 874,157 797,317  
Residential Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Special Mention [Member]      
Current Fiscal Year 151 158  
Fiscal Year before Current Fiscal Year 0 0  
Two Years before Current Fiscal Year 0 0  
Three Years before Current Fiscal Year 0 83  
Four Years before Current Fiscal Year 77 0  
More than Five Years before Current Fiscal Year 0 0  
Revolving 0 0  
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 228 241  
Residential Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Substandard [Member] | Performing Financial Instruments [Member]      
Current Fiscal Year 0 0  
Fiscal Year before Current Fiscal Year 0 0  
Two Years before Current Fiscal Year 0 12  
Three Years before Current Fiscal Year 10 0  
Four Years before Current Fiscal Year 0 0  
More than Five Years before Current Fiscal Year 121 342  
Revolving 0 0  
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 131 354  
Residential Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Substandard [Member] | Nonperforming Financial Instruments [Member]      
Current Fiscal Year 602 1,028  
Fiscal Year before Current Fiscal Year 1,459 3,737  
Two Years before Current Fiscal Year 2,676 1,400  
Three Years before Current Fiscal Year 1,956 320  
Four Years before Current Fiscal Year 0 9  
More than Five Years before Current Fiscal Year 656 674  
Revolving 0 0  
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 7,349 7,168  
Residential Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Doubtful [Member]      
Current Fiscal Year 0 0  
Fiscal Year before Current Fiscal Year 0 0  
Two Years before Current Fiscal Year 0 0  
Three Years before Current Fiscal Year 0 0  
Four Years before Current Fiscal Year 0 0  
More than Five Years before Current Fiscal Year 0 0  
Revolving 0 0  
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 0 0  
Finance Leases Portfolio Segment [Member]      
Current Fiscal Year 6,848 4,966  
Fiscal Year before Current Fiscal Year 3,880 5,439  
Two Years before Current Fiscal Year 3,831 2,450  
Three Years before Current Fiscal Year 1,380 1,998  
Four Years before Current Fiscal Year 836 658  
More than Five Years before Current Fiscal Year 137 3  
Revolving 0 0  
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 16,912 15,514  
Current period gross charge offs, current fiscal year 0 0  
Current period gross charge, Fiscal Year before Current Fiscal Year offs 0 0  
Current period gross charge offs, Two Years before Current Fiscal Year 0 0  
Current period gross charge offs, Three Years before Current Fiscal Year 0 0  
Current period gross charge offs, Four Years before Current Fiscal Year 0 0  
Current period gross charge offs, More than Five Years before Current Fiscal Year 0 0  
Current period gross charge offs, Revolving 0 0  
Charge-offs 0 0 0
Finance Leases Portfolio Segment [Member] | Pass [Member]      
Current Fiscal Year 6,848 4,935  
Fiscal Year before Current Fiscal Year 3,880 5,439  
Two Years before Current Fiscal Year 3,831 1,864  
Three Years before Current Fiscal Year 1,014 1,462  
Four Years before Current Fiscal Year 836 597  
More than Five Years before Current Fiscal Year 137 3  
Revolving 0 0  
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 16,546 14,300  
Finance Leases Portfolio Segment [Member] | Special Mention [Member]      
Current Fiscal Year 0 0  
Fiscal Year before Current Fiscal Year 0 0  
Two Years before Current Fiscal Year 0 0  
Three Years before Current Fiscal Year 0 0  
Four Years before Current Fiscal Year 0 0  
More than Five Years before Current Fiscal Year 0 0  
Revolving 0 0  
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 0 0  
Finance Leases Portfolio Segment [Member] | Substandard [Member] | Performing Financial Instruments [Member]      
Current Fiscal Year 0 31  
Fiscal Year before Current Fiscal Year 0 0  
Two Years before Current Fiscal Year 0 586  
Three Years before Current Fiscal Year 366 536  
Four Years before Current Fiscal Year 0 61  
More than Five Years before Current Fiscal Year 0 0  
Revolving 0 0  
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 366 1,214  
Finance Leases Portfolio Segment [Member] | Substandard [Member] | Nonperforming Financial Instruments [Member]      
Current Fiscal Year 0 0  
Fiscal Year before Current Fiscal Year 0 0  
Two Years before Current Fiscal Year 0 0  
Three Years before Current Fiscal Year 0 0  
Four Years before Current Fiscal Year 0 0  
More than Five Years before Current Fiscal Year 0 0  
Revolving 0 0  
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 0 0  
Finance Leases Portfolio Segment [Member] | Doubtful [Member]      
Current Fiscal Year 0 0  
Fiscal Year before Current Fiscal Year 0 0  
Two Years before Current Fiscal Year 0 0  
Three Years before Current Fiscal Year 0 0  
Four Years before Current Fiscal Year 0 0  
More than Five Years before Current Fiscal Year 0 0  
Revolving 0 0  
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 0 0  
Commercial Portfolio Segment [Member] | Credit Card Receivable [Member]      
Current Fiscal Year 0 0  
Fiscal Year before Current Fiscal Year 0 0  
Two Years before Current Fiscal Year 0 0  
Three Years before Current Fiscal Year 0 0  
Four Years before Current Fiscal Year 0 0  
More than Five Years before Current Fiscal Year 0 0  
Revolving 25,243 24,540  
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 25,243 24,540  
Current period gross charge offs, current fiscal year 0 0  
Current period gross charge, Fiscal Year before Current Fiscal Year offs 0 0  
Current period gross charge offs, Two Years before Current Fiscal Year 0 0  
Current period gross charge offs, Three Years before Current Fiscal Year 0 0  
Current period gross charge offs, Four Years before Current Fiscal Year 0 0  
Current period gross charge offs, More than Five Years before Current Fiscal Year 0 0  
Current period gross charge offs, Revolving (303) (225)  
Charge-offs (303) (225) (661)
Commercial Portfolio Segment [Member] | Credit Card Receivable [Member] | Performing Financial Instruments [Member]      
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 25,191 24,370  
Commercial Portfolio Segment [Member] | Credit Card Receivable [Member] | Nonperforming Financial Instruments [Member]      
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 52 170  
Commercial Portfolio Segment [Member] | Credit Card Receivable [Member] | Pass [Member]      
Current Fiscal Year 0 0  
Fiscal Year before Current Fiscal Year 0 0  
Two Years before Current Fiscal Year 0 0  
Three Years before Current Fiscal Year 0 0  
Four Years before Current Fiscal Year 0 0  
More than Five Years before Current Fiscal Year 0 0  
Revolving 25,191 24,540  
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 25,191 24,540  
Commercial Portfolio Segment [Member] | Credit Card Receivable [Member] | Special Mention [Member]      
Current Fiscal Year 0 0  
Fiscal Year before Current Fiscal Year 0 0  
Two Years before Current Fiscal Year 0 0  
Three Years before Current Fiscal Year 0 0  
Four Years before Current Fiscal Year 0 0  
More than Five Years before Current Fiscal Year 0 0  
Revolving 0 0  
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 0 0  
Commercial Portfolio Segment [Member] | Credit Card Receivable [Member] | Substandard [Member] | Performing Financial Instruments [Member]      
Current Fiscal Year 0 0  
Fiscal Year before Current Fiscal Year 0 0  
Two Years before Current Fiscal Year 0 0  
Three Years before Current Fiscal Year 0 0  
Four Years before Current Fiscal Year 0 0  
More than Five Years before Current Fiscal Year 0 0  
Revolving 0 0  
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 0 0  
Commercial Portfolio Segment [Member] | Credit Card Receivable [Member] | Substandard [Member] | Nonperforming Financial Instruments [Member]      
Current Fiscal Year 0 0  
Fiscal Year before Current Fiscal Year 0 0  
Two Years before Current Fiscal Year 0 0  
Three Years before Current Fiscal Year 0 0  
Four Years before Current Fiscal Year 0 0  
More than Five Years before Current Fiscal Year 0 0  
Revolving 52 0  
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 52 0  
Commercial Portfolio Segment [Member] | Credit Card Receivable [Member] | Doubtful [Member]      
Current Fiscal Year 0 0  
Fiscal Year before Current Fiscal Year 0 0  
Two Years before Current Fiscal Year 0 0  
Three Years before Current Fiscal Year 0 0  
Four Years before Current Fiscal Year 0 0  
More than Five Years before Current Fiscal Year 0 0  
Revolving 0 0  
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 0 0  
Construction and Development [Member]      
Current Fiscal Year 253,687 241,776  
Fiscal Year before Current Fiscal Year 254,341 236,158  
Two Years before Current Fiscal Year 182,016 115,429  
Three Years before Current Fiscal Year 44,909 8,381  
Four Years before Current Fiscal Year 3,095 1,273  
More than Five Years before Current Fiscal Year 1,687 3,569  
Revolving 12,162 16,419  
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 751,897 623,005  
Current period gross charge offs, current fiscal year 0 0  
Current period gross charge, Fiscal Year before Current Fiscal Year offs 0 0  
Current period gross charge offs, Two Years before Current Fiscal Year 0 0  
Current period gross charge offs, Three Years before Current Fiscal Year 0 0  
Current period gross charge offs, Four Years before Current Fiscal Year 0 0  
Current period gross charge offs, More than Five Years before Current Fiscal Year 0 0  
Current period gross charge offs, Revolving 0 0  
Charge-offs 0 0 0
Construction and Development [Member] | Pass [Member]      
Current Fiscal Year 253,687 237,785  
Fiscal Year before Current Fiscal Year 254,341 234,782  
Two Years before Current Fiscal Year 182,016 115,429  
Three Years before Current Fiscal Year 44,909 8,381  
Four Years before Current Fiscal Year 3,095 1,273  
More than Five Years before Current Fiscal Year 1,687 3,569  
Revolving 12,162 15,420  
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 751,897 616,639  
Construction and Development [Member] | Special Mention [Member]      
Current Fiscal Year 0 3,680  
Fiscal Year before Current Fiscal Year 0 1,376  
Two Years before Current Fiscal Year 0 0  
Three Years before Current Fiscal Year 0 0  
Four Years before Current Fiscal Year 0 0  
More than Five Years before Current Fiscal Year 0 0  
Revolving 0 0  
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 0 5,056  
Construction and Development [Member] | Substandard [Member] | Performing Financial Instruments [Member]      
Current Fiscal Year 0 0  
Fiscal Year before Current Fiscal Year 0 0  
Two Years before Current Fiscal Year 0 0  
Three Years before Current Fiscal Year 0 0  
Four Years before Current Fiscal Year 0 0  
More than Five Years before Current Fiscal Year 0 0  
Revolving 0 999  
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 0 999  
Construction and Development [Member] | Substandard [Member] | Nonperforming Financial Instruments [Member]      
Current Fiscal Year 0 311  
Fiscal Year before Current Fiscal Year 0 0  
Two Years before Current Fiscal Year 0 0  
Three Years before Current Fiscal Year 0 0  
Four Years before Current Fiscal Year 0 0  
More than Five Years before Current Fiscal Year 0 0  
Revolving 0 0  
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 0 311  
Construction and Development [Member] | Doubtful [Member]      
Current Fiscal Year 0 0  
Fiscal Year before Current Fiscal Year 0 0  
Two Years before Current Fiscal Year 0 0  
Three Years before Current Fiscal Year 0 0  
Four Years before Current Fiscal Year 0 0  
More than Five Years before Current Fiscal Year 0 0  
Revolving 0 0  
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 0 0  
Commercial and Industrial Portfolio Segment [Member]      
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 1,509,489 1,438,654  
Charge-offs (1,025) (1,303) (5,931)
Commercial and Industrial Portfolio Segment [Member] | Term [Member]      
Current Fiscal Year 264,905 319,851  
Fiscal Year before Current Fiscal Year 247,576 175,856  
Two Years before Current Fiscal Year 130,460 199,930  
Three Years before Current Fiscal Year 129,268 123,196  
Four Years before Current Fiscal Year 86,020 34,353  
More than Five Years before Current Fiscal Year 39,347 31,213  
Revolving 0 0  
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 897,576 884,399  
Current period gross charge offs, current fiscal year 0 (414)  
Current period gross charge, Fiscal Year before Current Fiscal Year offs (350) (250)  
Current period gross charge offs, Two Years before Current Fiscal Year (328) (6)  
Current period gross charge offs, Three Years before Current Fiscal Year (56) (78)  
Current period gross charge offs, Four Years before Current Fiscal Year (4) 0  
Current period gross charge offs, More than Five Years before Current Fiscal Year 0 0  
Current period gross charge offs, Revolving 0 0  
Charge-offs (738) (748) (2,298)
Commercial and Industrial Portfolio Segment [Member] | Term [Member] | Pass [Member]      
Current Fiscal Year 264,366 312,854  
Fiscal Year before Current Fiscal Year 239,708 173,383  
Two Years before Current Fiscal Year 129,940 198,754  
Three Years before Current Fiscal Year 127,077 120,056  
Four Years before Current Fiscal Year 84,782 34,013  
More than Five Years before Current Fiscal Year 38,764 30,903  
Revolving 0 0  
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 884,637 869,963  
Commercial and Industrial Portfolio Segment [Member] | Term [Member] | Special Mention [Member]      
Current Fiscal Year 341 2,679  
Fiscal Year before Current Fiscal Year 7,853 1,813  
Two Years before Current Fiscal Year 392 833  
Three Years before Current Fiscal Year 1,020 104  
Four Years before Current Fiscal Year 0 28  
More than Five Years before Current Fiscal Year 0 0  
Revolving 0 0  
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 9,606 5,457  
Commercial and Industrial Portfolio Segment [Member] | Term [Member] | Substandard [Member] | Performing Financial Instruments [Member]      
Current Fiscal Year 0 496  
Fiscal Year before Current Fiscal Year 0 311  
Two Years before Current Fiscal Year 82 0  
Three Years before Current Fiscal Year 1,162 3,036  
Four Years before Current Fiscal Year 1,238 10  
More than Five Years before Current Fiscal Year 32 223  
Revolving 0 0  
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 2,514 4,076  
Commercial and Industrial Portfolio Segment [Member] | Term [Member] | Substandard [Member] | Nonperforming Financial Instruments [Member]      
Current Fiscal Year 198 3,822  
Fiscal Year before Current Fiscal Year 15 349  
Two Years before Current Fiscal Year 46 343  
Three Years before Current Fiscal Year 9 0  
Four Years before Current Fiscal Year 0 302  
More than Five Years before Current Fiscal Year 551 87  
Revolving 0 0  
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 819 4,903  
Commercial and Industrial Portfolio Segment [Member] | Term [Member] | Doubtful [Member]      
Current Fiscal Year 0 0  
Fiscal Year before Current Fiscal Year 0 0  
Two Years before Current Fiscal Year 0 0  
Three Years before Current Fiscal Year 0 0  
Four Years before Current Fiscal Year 0 0  
More than Five Years before Current Fiscal Year 0 0  
Revolving 0 0  
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 0 0  
Commercial and Industrial Portfolio Segment [Member] | Lines of Credit [Member]      
Current Fiscal Year 63,398 126,654  
Fiscal Year before Current Fiscal Year 79,857 11,181  
Two Years before Current Fiscal Year 5,292 3,967  
Three Years before Current Fiscal Year 586 2,553  
Four Years before Current Fiscal Year 1,852 295  
More than Five Years before Current Fiscal Year 1,905 2,654  
Revolving 459,023 406,951  
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 611,913 554,255  
Current period gross charge offs, current fiscal year 0 0  
Current period gross charge, Fiscal Year before Current Fiscal Year offs 0 0  
Current period gross charge offs, Two Years before Current Fiscal Year 0 (555)  
Current period gross charge offs, Three Years before Current Fiscal Year 0 0  
Current period gross charge offs, Four Years before Current Fiscal Year 0 0  
Current period gross charge offs, More than Five Years before Current Fiscal Year 0 0  
Current period gross charge offs, Revolving (287) 0  
Charge-offs (287) (555) (3,633)
Commercial and Industrial Portfolio Segment [Member] | Lines of Credit [Member] | Pass [Member]      
Current Fiscal Year 62,731 119,206  
Fiscal Year before Current Fiscal Year 77,599 11,181  
Two Years before Current Fiscal Year 5,292 3,967  
Three Years before Current Fiscal Year 586 2,553  
Four Years before Current Fiscal Year 1,852 295  
More than Five Years before Current Fiscal Year 1,905 2,654  
Revolving 425,487 372,866  
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 575,452 512,722  
Commercial and Industrial Portfolio Segment [Member] | Lines of Credit [Member] | Special Mention [Member]      
Current Fiscal Year 485 7,448  
Fiscal Year before Current Fiscal Year 2,258 0  
Two Years before Current Fiscal Year 0 0  
Three Years before Current Fiscal Year 0 0  
Four Years before Current Fiscal Year 0 0  
More than Five Years before Current Fiscal Year 0 0  
Revolving 13,955 10,750  
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 16,698 18,198  
Commercial and Industrial Portfolio Segment [Member] | Lines of Credit [Member] | Substandard [Member] | Performing Financial Instruments [Member]      
Current Fiscal Year 0 0  
Fiscal Year before Current Fiscal Year 0 0  
Two Years before Current Fiscal Year 0 0  
Three Years before Current Fiscal Year 0 0  
Four Years before Current Fiscal Year 0 0  
More than Five Years before Current Fiscal Year 0 0  
Revolving 19,581 23,335  
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 19,581 23,335  
Commercial and Industrial Portfolio Segment [Member] | Lines of Credit [Member] | Substandard [Member] | Nonperforming Financial Instruments [Member]      
Current Fiscal Year 182 0  
Fiscal Year before Current Fiscal Year 0 0  
Two Years before Current Fiscal Year 0 0  
Three Years before Current Fiscal Year 0 0  
Four Years before Current Fiscal Year 0 0  
More than Five Years before Current Fiscal Year 0 0  
Revolving 0 0  
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 182 0  
Commercial and Industrial Portfolio Segment [Member] | Lines of Credit [Member] | Doubtful [Member]      
Current Fiscal Year 0 0  
Fiscal Year before Current Fiscal Year 0 0  
Two Years before Current Fiscal Year 0 0  
Three Years before Current Fiscal Year 0 0  
Four Years before Current Fiscal Year 0 0  
More than Five Years before Current Fiscal Year 0 0  
Revolving 0 0  
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 0 0  
Home Equity Line of Credit [Member]      
Current Fiscal Year 0 0  
Fiscal Year before Current Fiscal Year 0 0  
Two Years before Current Fiscal Year 0 0  
Three Years before Current Fiscal Year 0 0  
Four Years before Current Fiscal Year 0 0  
More than Five Years before Current Fiscal Year 0 0  
Revolving 285,115 247,433  
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 285,115 247,433  
Current period gross charge offs, current fiscal year 0 0  
Current period gross charge, Fiscal Year before Current Fiscal Year offs 0 0  
Current period gross charge offs, Two Years before Current Fiscal Year 0 0  
Current period gross charge offs, Three Years before Current Fiscal Year 0 0  
Current period gross charge offs, Four Years before Current Fiscal Year 0 0  
Current period gross charge offs, More than Five Years before Current Fiscal Year 0 0  
Current period gross charge offs, Revolving (10) (107)  
Charge-offs (10) (107)  
Home Equity Line of Credit [Member] | Pass [Member]      
Current Fiscal Year 0 0  
Fiscal Year before Current Fiscal Year 0 0  
Two Years before Current Fiscal Year 0 0  
Three Years before Current Fiscal Year 0 0  
Four Years before Current Fiscal Year 0 0  
More than Five Years before Current Fiscal Year 0 0  
Revolving 284,064 246,336  
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 284,064 246,336  
Home Equity Line of Credit [Member] | Special Mention [Member]      
Current Fiscal Year 0 0  
Fiscal Year before Current Fiscal Year 0 0  
Two Years before Current Fiscal Year 0 0  
Three Years before Current Fiscal Year 0 0  
Four Years before Current Fiscal Year 0 0  
More than Five Years before Current Fiscal Year 0 0  
Revolving 0 0  
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 0 0  
Home Equity Line of Credit [Member] | Substandard [Member] | Performing Financial Instruments [Member]      
Current Fiscal Year 0 0  
Fiscal Year before Current Fiscal Year 0 0  
Two Years before Current Fiscal Year 0 0  
Three Years before Current Fiscal Year 0 0  
Four Years before Current Fiscal Year 0 0  
More than Five Years before Current Fiscal Year 0 0  
Revolving 1,051 1,027  
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 1,051 1,027  
Home Equity Line of Credit [Member] | Substandard [Member] | Nonperforming Financial Instruments [Member]      
Current Fiscal Year 0 0  
Fiscal Year before Current Fiscal Year 0 0  
Two Years before Current Fiscal Year 0 0  
Three Years before Current Fiscal Year 0 0  
Four Years before Current Fiscal Year 0 0  
More than Five Years before Current Fiscal Year 0 0  
Revolving 0 70  
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 0 70  
Home Equity Line of Credit [Member] | Doubtful [Member]      
Current Fiscal Year 0 0  
Fiscal Year before Current Fiscal Year 0 0  
Two Years before Current Fiscal Year 0 0  
Three Years before Current Fiscal Year 0 0  
Four Years before Current Fiscal Year 0 0  
More than Five Years before Current Fiscal Year 0 0  
Revolving 0 0  
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 0 0  
Consumer Portfolio Segment [Member]      
Current Fiscal Year 27,581 23,030  
Fiscal Year before Current Fiscal Year 14,074 18,313  
Two Years before Current Fiscal Year 10,037 12,888  
Three Years before Current Fiscal Year 8,573 6,307  
Four Years before Current Fiscal Year 3,838 1,112  
More than Five Years before Current Fiscal Year 659 1,051  
Revolving 77,663 81,943  
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 142,425 144,644  
Current period gross charge offs, current fiscal year (857) (640)  
Current period gross charge, Fiscal Year before Current Fiscal Year offs (72) (19)  
Current period gross charge offs, Two Years before Current Fiscal Year (97) (12)  
Current period gross charge offs, Three Years before Current Fiscal Year (36) (41)  
Current period gross charge offs, Four Years before Current Fiscal Year (5) (9)  
Current period gross charge offs, More than Five Years before Current Fiscal Year (36) (45)  
Current period gross charge offs, Revolving 0 (19)  
Charge-offs (1,103) (785) $ (865)
Consumer Portfolio Segment [Member] | Pass [Member]      
Current Fiscal Year 27,560 22,895  
Fiscal Year before Current Fiscal Year 13,948 18,200  
Two Years before Current Fiscal Year 9,927 12,822  
Three Years before Current Fiscal Year 8,561 6,294  
Four Years before Current Fiscal Year 3,838 1,095  
More than Five Years before Current Fiscal Year 650 1,023  
Revolving 77,663 81,943  
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 142,147 144,272  
Consumer Portfolio Segment [Member] | Special Mention [Member]      
Current Fiscal Year 0 0  
Fiscal Year before Current Fiscal Year 0 0  
Two Years before Current Fiscal Year 0 0  
Three Years before Current Fiscal Year 0 0  
Four Years before Current Fiscal Year 0 0  
More than Five Years before Current Fiscal Year 0 0  
Revolving 0 0  
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 0 0  
Consumer Portfolio Segment [Member] | Substandard [Member] | Performing Financial Instruments [Member]      
Current Fiscal Year 0 0  
Fiscal Year before Current Fiscal Year 0 0  
Two Years before Current Fiscal Year 0 0  
Three Years before Current Fiscal Year 0 0  
Four Years before Current Fiscal Year 0 0  
More than Five Years before Current Fiscal Year 0 0  
Revolving 0 0  
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 0 0  
Consumer Portfolio Segment [Member] | Substandard [Member] | Nonperforming Financial Instruments [Member]      
Current Fiscal Year 21 135  
Fiscal Year before Current Fiscal Year 126 113  
Two Years before Current Fiscal Year 110 66  
Three Years before Current Fiscal Year 12 13  
Four Years before Current Fiscal Year 0 17  
More than Five Years before Current Fiscal Year 9 28  
Revolving 0 0  
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 278 372  
Consumer Portfolio Segment [Member] | Doubtful [Member]      
Current Fiscal Year 0 0  
Fiscal Year before Current Fiscal Year 0 0  
Two Years before Current Fiscal Year 0 0  
Three Years before Current Fiscal Year 0 0  
Four Years before Current Fiscal Year 0 0  
More than Five Years before Current Fiscal Year 0 0  
Revolving 0 0  
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss $ 0 $ 0  
[1] (1) Total loans are presented inclusive of premiums, discounts and net loan origination fees and costs. 
v3.25.4
Note 4 - Loans and ACL on Loans - Credit Card Loan Payment Activity (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Loans [1] $ 7,041,310 $ 6,520,402
Credit Card Receivable [Member]    
Loans 25,243 24,540
Commercial Portfolio Segment [Member] | Credit Card Receivable [Member]    
Loans 25,243 24,540
Commercial Portfolio Segment [Member] | Credit Card Receivable [Member] | Performing Financial Instruments [Member]    
Loans 25,191 24,370
Commercial Portfolio Segment [Member] | Credit Card Receivable [Member] | Nonperforming Financial Instruments [Member]    
Loans $ 52 $ 170
[1] (1) Total loans are presented inclusive of premiums, discounts and net loan origination fees and costs. 
v3.25.4
Note 5 - Premises and Equipment and Premises Held for Sale (Details Textual) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Depreciation $ 6.2 $ 6.6 $ 7.7
Minimum [Member]      
Lessor, Operating Lease, Term of Contract 3 months    
Maximum [Member]      
Lessor, Operating Lease, Term of Contract 20 years    
Land and Building [Member]      
Asset, Held-for-Sale, Not Part of Disposal Group $ 1.7 $ 2.3  
v3.25.4
Note 5 - Premises and Equipment and Premises Held for Sale - Summary of Premises and Equipment (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Premises and equipment, gross $ 163,558 $ 155,861
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] Total premises and equipment Total premises and equipment
Right-of-use operating lease asset $ 31,241 $ 29,695
Accumulated depreciation and amortization (44,860) (43,125)
Total premises and equipment 118,698 112,736
Land [Member]    
Premises and equipment, gross 25,202 22,360
Building and Building Improvements [Member]    
Premises and equipment, gross 77,535 73,369
Furniture and Equipment [Member]    
Premises and equipment, gross 25,924 25,358
Construction in Progress [Member]    
Premises and equipment, gross $ 3,656 $ 5,079
v3.25.4
Note 5 - Premises and Equipment and Premises Held for Sale - Balance Sheet, Income Statement, and Cash Flow Detail Regarding Operating Leases (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] Premises and equipment, net Premises and equipment, net  
Operating lease cost $ 4,230 $ 4,241 $ 3,338
Cash paid for operating lease liabilities 4,409 4,672 4,063
Right-of-use operating lease asset 31,241 29,695  
Variable lease cost $ 383 $ 345 313
Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration] Other liabilities Other liabilities  
Operating lease liability $ 32,971 $ 31,194  
Less sublease income $ 96 $ 102 101
Weighted average remaining lease term (years) (Year) 10 years 2 months 12 days 10 years 9 months 18 days  
Total lease cost $ 4,517 $ 4,484 $ 3,550
Weighted average discount rate 3.65% 3.69%  
Year One $ 4,131 $ 3,955  
Year Two 4,149 3,869  
Year Three 4,198 3,881  
Year Four 4,129 3,924  
Year Five 3,974 3,794  
Greater than five years 19,347 19,120  
Total lease payments 39,928 38,543  
Less imputed interest $ (6,957) $ (7,349)  
v3.25.4
Note 6 - Goodwill (Details Textual) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Goodwill $ 194,074 $ 194,074
Commercial Banking [Member]    
Goodwill 172,000 172,000
WM&T [Member]    
Goodwill $ 22,000 $ 22,000
v3.25.4
Note 6 - Goodwill - Carrying Value of Goodwill (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Goodwill $ 194,074 $ 194,074
Commonwealth [Member]    
Goodwill 58,244 58,244
Kentucky Bancshares [Member]    
Goodwill 123,317 123,317
King Southern Bancorp [Member]    
Goodwill 11,831 11,831
Austin State Bank [Member]    
Goodwill $ 682 $ 682
v3.25.4
Note 7 - Core Deposit and Customer List Intangible Assets (Details Textual) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Core Deposits [Member]        
Finite-Lived Intangible Assets, Gross $ 18,700      
Finite-Lived Intangible Assets, Accumulated Amortization 12,000      
Finite-Lived Intangible Assets, Net 6,688 $ 8,978 $ 11,944 $ 14,958
Customer Lists [Member]        
Finite-Lived Intangible Assets, Gross 11,900      
Finite-Lived Intangible Assets, Accumulated Amortization 6,400      
Finite-Lived Intangible Assets, Net $ 5,472 $ 6,840 $ 8,360 $ 10,032
v3.25.4
Note 7 - Core Deposit and Customer List Intangible Assets - Changes in the Net Carrying Amount of Intangibles (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Amortized to expense $ (3,658) $ (4,485) $ (4,686)
Core Deposits [Member]      
Balance at beginning of period 8,978 11,944 14,958
Added from acquisition 0 0 0
Provisional period adjustment 0 0 0
Amortized to expense (2,290) (2,966) (3,014)
Balance at end of period 6,688 8,978 11,944
Customer Lists [Member]      
Balance at beginning of period 6,840 8,360 10,032
Added from acquisition 0 0 0
Disposition of LFA 0 0 0
Amortized to expense (1,368) (1,520) (1,672)
Balance at end of period $ 5,472 $ 6,840 $ 8,360
v3.25.4
Note 7 - Core Deposit and Customer List Intangible Assets - Future Amortization Expense (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Core Deposits [Member]        
2026 $ 1,980      
2027 1,668      
2028 1,311      
2029 888      
2030 576      
Thereafter 265      
Total future expense 6,688 $ 8,978 $ 11,944 $ 14,958
Customer Lists [Member]        
2026 1,216      
2027 1,064      
2028 912      
2029 760      
2030 608      
Thereafter 912      
Total future expense $ 5,472 $ 6,840 $ 8,360 $ 10,032
v3.25.4
Note 8 - Other Assets - Summary of Major Components of Other Assets (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash surrender value of life insurance other than BOLI $ 22,156 $ 19,895    
Net deferred tax asset 44,667 51,646    
Investments in tax credit partnerships 194,643 185,424    
Swap assets 4,501 12,437    
Prepaid assets 8,818 6,369    
WM&T fees receivable 5,253 4,523    
Mortgage servicing rights 10,189 11,333 $ 13,082 $ 15,219
Other real estate owned 190 10    
Other 14,589 17,113    
Total other assets $ 305,006 $ 308,750    
v3.25.4
Note 9 - Income Taxes (Details Textual) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Deferred Tax Assets, Valuation Allowance $ 0 $ 0  
Investment, Proportional Amortization Method, Elected, Amount $ 195,000 $ 185,000  
Investment, Proportional Amortization Method, Elected, Statement of Financial Position [Extensible Enumeration] Other assets Other assets  
Provision for Income Taxes [Member]      
Investment Program, Proportional Amortization Method, Applied, Amortization Expense, Statement of Cash Flows [Extensible Enumeration] Depreciation, amortization and accretion, net Depreciation, amortization and accretion, net Depreciation, amortization and accretion, net
Domestic Tax Jurisdiction [Member]      
Open Tax Year 2020 2021 2022 2023 2024    
State and Local Jurisdiction [Member]      
Open Tax Year 2019 2020 2021 2022 2023 2024    
v3.25.4
Note 9 - Income Taxes - Components of Income Tax Expense (Benefit) from Operations (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Federal $ 33,894 $ 27,377 $ 25,360
State 6,982 5,566 5,254
Total current income tax expense 40,876 32,943 30,614
Federal (2,396) (2,681) (977)
State (434) (435) 542
Total deferred income tax expense (benefit) (2,830) (3,116) (435)
Total income tax expense $ 38,046 $ 29,827 $ 30,179
v3.25.4
Note 9 - Income Taxes - Components of Income Tax (Benefit) Expense Recorded Directly to Stockholders' Equity (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Unrealized gain (loss) on securities available for sale $ 11,222 $ (359) $ 7,416
Unrealized gain (loss) on derivatives (24) 983 (58)
Minimum pension liability adjustment (1,397) 18 (17)
Total income tax (benefit) expense recorded directly to stockholders' equity $ 9,801 $ 642 $ 7,341
v3.25.4
Note 9 - Income Taxes - Difference Between Statutory and Effective Tax Rates (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
U.S. federal statutory income tax rate, amount $ 37,421    
U.S. federal statutory income tax rate 21.00% 21.00% 21.00%
State income taxes, net of federal benefit, amount [1] $ 5,173    
State income taxes, net of federal benefit 2.90% [1] 2.75% 3.27%
Excess tax benefits from stock-based compensation arrangements 0.34% (0.76%) (0.31%)
Tax credits   (1.54%) (0.54%)
Change in cash surrender value of life insurance 0.53% (0.61%) (0.64%)
Changes in cash surrender value of life insurance, amount $ (944)    
Changes in cash surrender value of life insurance (0.53%) 0.61% 0.64%
Tax-exempt interest income, amount $ (555)    
Tax exempt interest income 0.31% (0.43%) (0.50%)
Tax-exempt interest income (0.31%) 0.43% 0.50%
Stock-based compensation, amount $ (602)    
Non-deductible merger expenses   0.00% 0.00%
Stock-based compensation (0.34%) 0.76% 0.31%
Other, amount $ 525    
Insurance captive   (0.00%) (0.20%)
Other 0.30% 0.25% (0.40%)
Total income tax expense $ 38,046 $ 29,827 $ 30,179
Amortization of investment in tax credit partnerships   0.00% 0.20%
Effective tax rate 21.35% 20.66% 21.88%
Low Income Housing Tax Credits [Member]      
Tax credits, amount [2] $ (2,402)    
Tax credits [2] (1.35%)    
Historic Rehabilitation Tax Credits [Member]      
Tax credits, amount [2] $ (570)    
Tax credits [2] (0.32%)    
[1] (1) State taxes in Kentucky made up the majority (greater than 50%) of the tax effect in this category.
[2] (2) The disclosures in this category are reflected net of proportional amortization and other tax benefits.
v3.25.4
Note 9 - Income Taxes - Schedule of Income Taxes Paid (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Total income taxes paid $ 21,195 $ 19,428 $ 35,330
Domestic Tax Jurisdiction [Member]      
Total income taxes paid 15,855    
State and Local Jurisdiction [Member] | Kentucky Tax Authority [Member]      
Total income taxes paid 4,120    
State and Local Jurisdiction [Member] | Indiana Tax Authority [Member]      
Total income taxes paid 1,145    
State and Local Jurisdiction [Member] | Illinois Tax Authority [Member]      
Total income taxes paid $ 75    
v3.25.4
Note 9 - Income Taxes - Deferred Tax Assets and Deferred Tax Liabilities (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Investment securities $ 19,149 $ 30,308
Allowance for credit losses 22,556 21,373
Deferred compensation 7,158 6,605
Operating lease liability 8,016 7,580
Acquired loan fair value adjustments 2,056 2,500
Accrued expenses 4,905 3,905
Interest rate swaps 471 0
Write-downs and costs associated with OREO 0 27
Deferred PPP loan fees 0 9
Total deferred tax assets 64,311 72,307
Right-of-use operating lease asset 7,670 7,300
Mortgage servicing rights 2,502 2,786
Property and equipment 2,341 2,143
Other liabilities 2,249 1,897
Investments in tax credit partnerships 338 227
Loan costs 1,758 1,599
Interest rate swaps 0 925
Leases 8 128
Total deferred tax liabilities 19,644 20,661
Net deferred tax asset 44,667 51,646
Core Deposits [Member]    
Intangibles 1,435 1,975
Customer Lists [Member]    
Intangibles $ 1,343 $ 1,681
v3.25.4
Note 9 - Income Taxes - Schedule of Unfunded Contributions (Details)
$ in Thousands
Dec. 31, 2025
USD ($)
2026 $ 56,727
2027 35,531
2028 3,183
2029 1,510
2030 1,764
Thereafter 6,516
Total unfunded contributions $ 105,231
v3.25.4
Note 9 - Income Taxes - Tax Credits and Other Tax Benefits Recognized and Amortization Expense Related to Tax Credit Partnerships (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Tax credits and other tax benefits recognized $ 18,530 $ 12,390 $ 417
Tax credits and other tax benefits recognized $ 0 $ 0 $ 1,598
Provision for Income Taxes [Member]      
Investment Program, Proportional Amortization Method, Applied, Amortization Expense, Statement of Income or Comprehensive Income [Extensible Enumeration] Income tax benefit Income tax benefit Income tax benefit
Investment Program, Proportional Amortization Method, Applied, Amortization Expense, Statement of Cash Flows [Extensible Enumeration] Depreciation, amortization and accretion, net Depreciation, amortization and accretion, net Depreciation, amortization and accretion, net
Amortization expense $ 13,703 $ 9,268 $ 3,295
Amortization expense $ 0 $ 0 $ 0
Other Non-interest Expense [Member]      
Investment Program, Proportional Amortization Method, Applied, Amortization Expense, Statement of Income or Comprehensive Income [Extensible Enumeration] Other Other Other
Investment Program, Proportional Amortization Method, Applied, Amortization Expense, Statement of Cash Flows [Extensible Enumeration] Depreciation, amortization and accretion, net Depreciation, amortization and accretion, net Depreciation, amortization and accretion, net
Amortization expense $ 0 $ 0 $ 1,294
Amortization expense $ 0 $ 0 $ 0
v3.25.4
Note 10 - Deposits (Details Textual) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Interest Expense, Time Deposits, 250,000 or More $ 17.5 $ 9.5 $ 5.1
Related Party Deposit Liabilities 71.0 58.0  
Deposit Liabilities Reclassified as Loans Receivable $ 1.6 $ 1.5  
v3.25.4
Note 10 - Deposits - Composition of Deposits (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Non-interest bearing demand deposits $ 1,435,846 $ 1,456,138
Interest bearing demand 2,886,406 2,649,142
Savings 420,382 419,355
Money market 1,311,969 1,403,978
Time deposits of $250 thousand or more 567,404 365,024
Other time deposits 1,169,130 872,764
Total time deposits 1,736,534 1,237,788
Total interest bearing deposits 6,355,291 5,710,263
Total deposits $ 7,791,137 $ 7,166,401
v3.25.4
Note 10 - Deposits - Maturities of Time Deposits (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
2025 $ 1,590,373  
2026 131,589  
2027 6,921  
2028 4,649  
2029 3,002  
Total time deposits $ 1,736,534 $ 1,237,788
v3.25.4
Note 11 - Securities Sold Under Agreements to Repurchase (Details Textual) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Securities available-for-sale, fair value $ 722,111 $ 990,114
Asset Pledged as Collateral [Member] | Securities Sold under Agreements to Repurchase [Member]    
Securities available-for-sale, fair value $ 129,000  
v3.25.4
Note 11 - Securities Sold Under Agreements to Repurchase - Securities Sold Under Agreements to Repurchase (Details) - Securities Sold under Agreements to Repurchase [Member] - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Outstanding balance at end of period $ 112,476 $ 162,967  
Average outstanding balance during the period $ 118,987 $ 154,387 $ 123,111
Weighted average interest rate at end of period 1.80% 2.10%  
Average interest rate during the period 2.03% 2.22% 1.70%
Maximum outstanding at any month end during the period $ 151,483 $ 179,428 $ 152,991
v3.25.4
Note 12 - Subordinated Debentures (Details Textual)
Mar. 07, 2022
Commonwealth [Member]  
Business Combination, Voting Equity Interest Acquired, Percentage 100.00%
v3.25.4
Note 12 - Subordinated Debentures - Subordinated Notes (Details)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
USD ($)
Face Value $ 26,806
Carrying value $ 26,806
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration] Secured Overnight Financing Rate (SOFR) [Member]
Commonwealth Statutory Trust III [Member]  
Face Value $ 3,093
Carrying value $ 3,093
Debt Instrument, Basis Spread on Variable Rate 2.85%
Commonwealth Statutory Trust IV [Member]  
Face Value $ 12,372
Carrying value $ 12,372
Debt Instrument, Basis Spread on Variable Rate 1.35%
Commonwealth Statutory Trust V [Member]  
Face Value $ 11,341
Carrying value $ 11,341
Debt Instrument, Basis Spread on Variable Rate 1.40%
v3.25.4
Note 13 - FHLB Advances and Other Borrowings (Details Textual) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Aug. 06, 2024
Advance from Federal Home Loan Bank $ 300,000 $ 300,000    
Proceeds from FHLBank Advance, Investing Activities 1,730,000 2,800,000    
Payments of FHLBank Borrowings, Financing Activities 1,730,000 2,700,000    
Proceeds from FHLBank Advance, Investing Activities, Net of Short Term Maturities 1,200,000 1,000,000 $ 950,000  
Payments of FHLBank Borrowings, Financing Activities, Net of Short Term Maturities 1,200,000 900,000 $ 800,000  
Federal Home Loan Bank, Advances, General Debt Obligations, Maximum Amount Available 1,470,000 1,250,000    
Correspondent Banks [Member]        
Federal Funds Corresponding Banks Maximum Amount Available 80,000 80,000    
Federal Funds From Corresponding Banks, Amount Outstanding 0 $ 0    
Three Month Advance Maturing November 2024 [Member]        
Advance from Federal Home Loan Bank $ 300,000     $ 100,000
v3.25.4
Note 13 - FHLB Advances and Other Borrowings - Contractual Maturities and Average Effective Rates of Outstanding Advances (Details) - USD ($)
$ in Billions
Dec. 31, 2025
Dec. 31, 2024
Advance from Federal Home Loan Bank $ 0.3 $ 0.3
Weighted average interest rate at end of period 3.85% 3.77%
v3.25.4
Note 14 - Accumulated Other Comprehensive Income (Loss) - Accumulated Other Comprehensive Income (loss) by Component (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Balance $ 940,476 $ 858,103 $ 760,432
Balance 1,075,697 940,476 858,103
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-Sale, Parent [Member]      
Balance (94,190) (92,678) (115,648)
Net current period other comprehensive income (loss) 34,365 (1,512) 22,970
Balance (59,825) (94,190) (92,678)
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member]      
Balance 2,922 (179) 0
Net current period other comprehensive income (loss) (4,415) 3,101 (179)
Balance (1,493) 2,922 (179)
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]      
Balance 117 59 112
Net current period other comprehensive income (loss) (74) 58 (53)
Balance 43 117 59
AOCI Attributable to Parent [Member]      
Balance (91,151) (92,798) (115,536)
Net current period other comprehensive income (loss) 29,876 1,647 22,738
Balance $ (61,275) $ (91,151) $ (92,798)
v3.25.4
Note 15 - Preferred Stock (Details Textual) - $ / shares
$ / shares in Thousands
Dec. 31, 2025
Dec. 31, 2024
Preferred Stock, No Par Value (in dollars per share) $ 0 $ 0
Preferred Stock, Shares Authorized (in shares) 1,000,000 1,000,000
Preferred Stock, Shares Issued (in shares) 0 0
v3.25.4
Note 16 - Net Income Per Share - Basic and Diluted Net Income Per Share (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Net income $ 140,150 $ 114,539 $ 107,748
Weighted average shares outstanding - basic (in shares) 29,363 29,288 29,212
Dilutive securities (in shares) 144 133 131
Weighted average shares outstanding- diluted (in shares) 29,507 29,421 29,343
Net income per share - basic (in dollars per share) $ 4.77 $ 3.91 $ 3.69
Net income per share - diluted (in dollars per share) $ 4.75 $ 3.89 $ 3.67
v3.25.4
Note 16 - Net Income Per Share - Antidilutive SARs (Details) - shares
shares in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Stock Appreciation Rights (SARs) [Member]      
Antidilutive SARs (in shares) 31 96 94
v3.25.4
Note 17 - Employee Benefit Plans (Details Textual)
 12 Months Ended
Dec. 31, 2025
USD ($)
shares
Dec. 31, 2024
USD ($)
shares
Dec. 31, 2023
USD ($)
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay 6.00%    
Defined Benefit Plan, Employer Additional Contribution of Stock, Percent 2.00%    
Defined Contribution Plan, Cost $ 5,300,000 $ 5,100,000 $ 4,500,000
Defined Contribution Plan, Shares, Held in Employee Stock Ownership and Profit Sharing Plan | shares 391,000 405,000  
Deferred Compensation Arrangement with Individual, Contributions by Employer $ 262,000 $ 323,000 $ 296,000
Deferred Compensation Arrangement with Individual, Recorded Liability $ 14,000,000 12,000,000  
Defined Benefit Plan, Number of Employees Covered 2    
Deferred Compensation Arrangement with Individual, Requisite Service Period 25 years    
Defined Benefit Plan, Accumulated Benefit Obligation $ 2,300,000 $ 2,300,000  
v3.25.4
Note 17 - Employee Benefit Plans - Benefits Expected to Be Paid (Details)
$ in Thousands
Dec. 31, 2025
USD ($)
2026 $ 219
2027 219
2028 219
2029 219
2030 219
2031 and thereafter 653
Total future payments $ 1,748
v3.25.4
Note 18 - Stock-based Compensation (Details Textual) - USD ($)
 3 Months Ended 12 Months Ended
Apr. 25, 2024
Mar. 31, 2025
Mar. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2018
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Additional Shares Authorized (in shares) 1,000,000           500,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant       1,000,000 953,000 [1]    
Proceeds (Used for) and Received from Settlement of Stock Awards       $ 344,000 $ 203,000    
Stock Appreciation Rights (SARs) [Member]              
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant [1]         953,000    
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period (Year)       10 years      
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)       26,000 42,000 29,000  
Stock Appreciation Rights (SARs) [Member] | Share-Based Payment Arrangement, Tranche One [Member]              
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage       20.00%      
Restricted Stock [Member]              
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year)       5 years      
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)       42,000 46,000 38,000  
Performance Shares [Member]              
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year)       3 years      
Sharebased Compensation Arrangement by Share-based Payment Award Post Vesting Holding Period (Year)       1 year      
Share-based Compensation Arrangement by Share-based Payment Award Liquidity Discount       5.50% 5.80% 5.20%  
Restricted Stock Units (RSUs) [Member] | Director [Member]              
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year)       12 months      
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)   7,670 9,550        
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Fair Value Granted   $ 539,000 $ 500,000        
[1] Under the 2015 Omnibus Equity Compensation Plan, shares of stock are authorized for issuance as incentive and non-qualified stock options, SARs, RSAs, and RSUs.
v3.25.4
Note 18 - Stock-based Compensation - Fair Value Assumptions (Details) - Stock Appreciation Rights (SARs) [Member]
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dividend yield 2.26% 2.29% 2.24%
Expected volatility 29.29% 28.43% 27.20%
Risk free interest rate 4.42% 4.16% 3.84%
Expected life (in years) (Year) 7 years 9 months 18 days 7 years 1 month 6 days 7 years 1 month 6 days
v3.25.4
Note 18 - Stock-based Compensation - Stock-based Compensation Expense (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Expense $ 4,408 $ 3,773 $ 4,464
Deferred tax benefit (925) (793) (939)
Total net expense 3,483 2,980 3,525
Stock Appreciation Rights (SARs) [Member]      
Expense 443 284 492
Deferred tax benefit (93) (60) (104)
Total net expense 350 224 388
Restricted Stock [Member]      
Expense 1,914 1,699 1,599
Deferred tax benefit (402) (357) (336)
Total net expense 1,512 1,342 1,263
Restricted Stock Units (RSUs) [Member]      
Expense 512 501 519
Deferred tax benefit (107) (105) (109)
Total net expense 405 396 410
Performance Shares [Member]      
Expense 1,539 1,289 1,854
Deferred tax benefit (323) (271) (390)
Total net expense $ 1,216 $ 1,018 $ 1,464
v3.25.4
Note 18 - Stock-based Compensation - Unrecognized Stock-based Compensation Expense (Details)
$ in Thousands
Dec. 31, 2025
USD ($)
2025 $ 3,323
2026 2,961
2027 1,274
2028 792
2029 125
Total estimated expense 8,475
Stock Appreciation Rights (SARs) [Member]  
2025 410
2026 340
2027 250
2028 135
2029 16
Total estimated expense 1,151
Restricted Stock [Member]  
2025 1,703
2026 1,412
2027 1,024
2028 657
2029 109
Total estimated expense 4,905
Restricted Stock Units (RSUs) [Member]  
2025 1
2026 0
2027 0
2028 0
2029 0
Total estimated expense 1
Performance Shares [Member]  
2025 1,209
2026 1,209
2027 0
2028 0
2029 0
Total estimated expense $ 2,418
v3.25.4
Note 18 - Stock-based Compensation - SARs Activity (Details) - Stock Appreciation Rights (SARs) [Member] - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Outstanding (in shares) 340 440 435  
Outstanding, aggregate intrinsic value [1] $ 6,354 $ 9,774 $ 6,297 $ 12,784
Outstanding, weighted average fair value (in dollars per share) $ 10.21 $ 8.69 $ 6.86 $ 6.02
Outstanding, weighted average remaining contractual life (Year) 5 years 5 years 3 months 18 days 4 years 8 months 12 days 5 years 1 month 6 days
Granted (in shares) 26 42 29  
Granted, aggregate intrinsic value [1] $ 0 $ 0 $ 0  
Granted, weighted average fair value (in dollars per share) $ 23.63 $ 13.75 $ 16.81  
Exercised (in shares) 28 142 (24)  
Exercised, aggregate intrinsic value [1] $ 1,332 $ 5,617 $ 681  
Exercised, exercised weighted average fair value (in dollars per share) $ 4.32 $ 4.51 $ 3.58  
Forefeited (in shares) 0 0 0  
Exercised (in shares) (28) (142) 24  
Outstanding (in shares) 338 340 440 435
Vested and exercisable (in shares) 245      
Vested and exercisable, aggregate intrinsic value [1] $ 5,565      
Vested and exercisable, weighted average fair value (in dollars per share) $ 7.78      
Vested and exercisable, weighted average remaining contractual life (Year) 3 years 10 months 24 days      
Unvested (in shares) 93      
Unvested, aggregate intrinsic value [1] $ 789      
Unvested, weighted average fair value (in dollars per share) $ 16.61      
Unvested, weighted average remaining contractual life (Year) 3 years 2 months 12 days      
Outstanding, aggregate intrinsic value [1] $ 6,354 $ 9,774 $ 6,297 $ 12,784
Vested in the current year (in shares) 33      
Vested in the current year, aggregate intrinsic value [1] $ 519      
Vested in the current year, weighted average fair value (in dollars per share) $ 11.3      
Minimum [Member]        
Outstanding, exercise price (in dollars per share) 25.76 $ 19.44 $ 19.37  
Granted, exercise price (in dollars per share) 67.85 47.95 60.76  
Exercised, exercise price (in dollars per share) 25.76 22.96 19.37  
Outstanding, exercise price (in dollars per share) 35.9 25.76 19.44 $ 19.37
Vested and exercisable, exercise price (in dollars per share) 35.9      
Unvested, exercise price (in dollars per share) 47.17      
Vested in the current year, exercise price (in dollars per share) 36.65      
Maximum [Member]        
Outstanding, exercise price (in dollars per share) 74.92 74.92 74.92  
Granted, exercise price (in dollars per share) 75.21 54.92 60.76  
Exercised, exercise price (in dollars per share) 40 40 19.37  
Outstanding, exercise price (in dollars per share) 75.21 74.92 74.92 74.92
Vested and exercisable, exercise price (in dollars per share) 74.92      
Unvested, exercise price (in dollars per share) 75.21      
Vested in the current year, exercise price (in dollars per share) 74.92      
Weighted Average [Member]        
Outstanding, exercise price (in dollars per share) 43.41 38.11 35.6  
Granted, exercise price (in dollars per share) 74.93 49.2    
Exercised, exercise price (in dollars per share) 29.67 28.74 19.37  
Outstanding, exercise price (in dollars per share) 46.98 $ 43.41 $ 38.11 $ 35.6
Vested and exercisable, exercise price (in dollars per share) 42.3      
Unvested, exercise price (in dollars per share) 59.32      
Vested in the current year, exercise price (in dollars per share) $ 49.39      
[1] Aggregate intrinsic value for SARs is defined as the amount by which the current market price of the underlying stock exceeds the exercise or grant price.
v3.25.4
Note 18 - Stock-based Compensation - Options and SARS Outstanding (Details)
shares in Thousands
Dec. 31, 2025
$ / shares
shares
SARs outstanding (in shares) 338
SARs vested and exercisable (in shares) 245
Weighted average exercise price of SARs outstanding (in dollars per share) | $ / shares $ 46.98
Stock Options and Stock Appreciation Rights SARs Expiring in 2026 [Member]  
SARs outstanding (in shares) 0
SARs vested and exercisable (in shares) 0
Weighted average exercise price of SARs outstanding (in dollars per share) | $ / shares $ 0
Stock Appreciation Rights SARs Expiring in 2027 [Member]  
SARs outstanding (in shares) 16
SARs vested and exercisable (in shares) 16
Weighted average exercise price of SARs outstanding (in dollars per share) | $ / shares $ 40
Stock Appreciation Rights SARs Expiring in 2028 [Member]  
SARs outstanding (in shares) 68
SARs vested and exercisable (in shares) 68
Weighted average exercise price of SARs outstanding (in dollars per share) | $ / shares $ 38.1
Stock Appreciation Rights SARs Expiring in 2029 [Member]  
SARs outstanding (in shares) 47
SARs vested and exercisable (in shares) 47
Weighted average exercise price of SARs outstanding (in dollars per share) | $ / shares $ 37.06
Stock Appreciation Rights SARs Expiring In 2030 [Member]  
SARs outstanding (in shares) 46
SARs vested and exercisable (in shares) 46
Weighted average exercise price of SARs outstanding (in dollars per share) | $ / shares $ 37.3
Stock Appreciation Rights SARs Expiring In 2031 [Member]  
SARs outstanding (in shares) 31
SARs vested and exercisable (in shares) 25
Weighted average exercise price of SARs outstanding (in dollars per share) | $ / shares $ 50.5
Stock Appreciation Rights SARs Expiring In 2032 [Member]  
SARs outstanding (in shares) 34
SARs vested and exercisable (in shares) 22
Weighted average exercise price of SARs outstanding (in dollars per share) | $ / shares $ 55.45
Stock Appreciation Rights (SARS) Expiring In 2033 [Member]  
SARs outstanding (in shares) 29
SARs vested and exercisable (in shares) 13
Weighted average exercise price of SARs outstanding (in dollars per share) | $ / shares $ 60.76
Stock Appreciation Rights (SARs) Expiring In 2034 [Member]  
SARs outstanding (in shares) 41
SARs vested and exercisable (in shares) 8
Weighted average exercise price of SARs outstanding (in dollars per share) | $ / shares $ 49.2
Stock Appreciation Rights (SARs) Expiring In 2035 [Member]  
SARs outstanding (in shares) 26
SARs vested and exercisable (in shares) 0
Weighted average exercise price of SARs outstanding (in dollars per share) | $ / shares $ 79.93
v3.25.4
Note 18 - Stock-based Compensation - Restricted Stock (Details) - Restricted Stock [Member] - $ / shares
shares in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Outstanding (in shares) 102 98 96
Unvested, grant date weighted average cost (in dollars per share) $ 54.92 $ 54.23 $ 47.26
Granted (in shares) 42 46 38
Granted, weighted average fair value (in dollars per share) $ 75.34 $ 52.06 $ 63.04
Restrictions lapsed and shares vested (in shares) (32) (33) (33)
Restrictions lapsed and shares vested, grant date weighted average cost (in dollars per share) $ 51.92 $ 49.49 $ 43.77
Forefeited (in shares) (6) (9) (3)
Shares forfeited, grant date weighted average cost (in dollars per share) $ 61.89 $ 53.1 $ 53.38
Outstanding (in shares) 106 102 98
Unvested, grant date weighted average cost (in dollars per share) $ 62.49 $ 54.92 $ 54.23
v3.25.4
Note 18 - Stock-based Compensation - Performance-based Restricted Stock Units (Details) - $ / shares
shares in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Expected shares to be awarded (in shares) 1,000 953 [1]  
Performance Shares [Member]      
Vesting period (Year) 3 years    
Performance Shares [Member] | Executive Officer [Member]      
Vesting period (Year) 3 years 3 years 3 years
Granted, weighted average fair value (in dollars per share) $ 67.61 $ 41.84 $ 54.33
Expected shares to be awarded (in shares) 53,254 49,957 18,762
[1] Under the 2015 Omnibus Equity Compensation Plan, shares of stock are authorized for issuance as incentive and non-qualified stock options, SARs, RSAs, and RSUs.
v3.25.4
Note 18 - Share-based Compensation - Number of Shares to Be Issued Upon Exercise of Outstanding Stock-based Awards (Details) - shares
shares in Thousands
Dec. 31, 2025
Dec. 31, 2024
Expected shares to be awarded (in shares) 1,000 953 [1]
Number of shares to be issued upon exercise (in shares)   113
Stock Appreciation Rights (SARs) [Member]    
Expected shares to be awarded (in shares) [1]   953
Restricted Stock [Member]    
Number of shares to be issued upon exercise (in shares)   106
Restricted Stock Units (RSUs) [Member]    
Number of shares to be issued upon exercise (in shares)   7
[1] Under the 2015 Omnibus Equity Compensation Plan, shares of stock are authorized for issuance as incentive and non-qualified stock options, SARs, RSAs, and RSUs.
v3.25.4
Note 19 - Dividends (Details Textual)
$ in Millions
 12 Months Ended
Dec. 31, 2025
USD ($)
Regulatory Dividend Restrictions, Period Considered for Deduction of Dividend Already Paid for, Net Income 2 years
Statutory Accounting Practices, Statutory Amount Available for Dividend Payments without Regulatory Approval $ 263
v3.25.4
Note 20 - Commitments and Contingent Liabilities (Details Textual) - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Off-Balance-Sheet, Credit Loss, Liability, Credit Loss Expense (Reversal) $ 1,200,000 $ 925,000 $ 1,300,000
Standby Letters of Credit [Member] | Minimum [Member]      
Guarantee Obligations, Agreement Term 1 year    
Standby Letters of Credit [Member] | Maximum [Member]      
Guarantee Obligations, Agreement Term 2 years    
Performance Guarantee [Member]      
Guarantee Obligation, Estimated Payment Under Default on Contract $ 4,300,000    
Other Liabilities [Member]      
Off-Balance-Sheet, Credit Loss, Liability 7,900,000 $ 6,800,000  
Tax Credit Contribution Commitments $ 105,000,000    
v3.25.4
Note 20 - Commitments and Contingent Liabilities - Off Balance Sheet Commitments to Extend Credit (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Off balance sheet commitments to extend credit $ 2,330,371 $ 2,438,242
Commercial and Industrial Loans [Member]    
Off balance sheet commitments to extend credit 811,568 876,503
Construction and Development [Member]    
Off balance sheet commitments to extend credit 639,190 566,045
Home Equity Loans [Member]    
Off balance sheet commitments to extend credit 429,070 403,461
Credit Cards [Member]    
Off balance sheet commitments to extend credit 90,673 92,060
Overdrafts [Member]    
Off balance sheet commitments to extend credit 54,863 58,078
Letters of Credit [Member]    
Off balance sheet commitments to extend credit 28,410 30,472
Other Off Balance Sheet Commitments [Member]    
Off balance sheet commitments to extend credit 99,462 86,010
Future Loan Commitments [Member]    
Off balance sheet commitments to extend credit $ 177,135 $ 325,613
v3.25.4
Note 21 - Assets and Liabilities Measured and Reported at Fair Value (Details Textual)
$ in Thousands
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Fair Value, Nonrecurring [Member]    
Liabilities, Fair Value Disclosure $ 0 $ 0
Selling and Closing Costs [Member] | Minimum [Member]    
Impaired Loans, Measurement Input 0.08  
Other Real Estate Owned, Measurement Input 0.08  
Selling and Closing Costs [Member] | Maximum [Member]    
Impaired Loans, Measurement Input 0.10  
Other Real Estate Owned, Measurement Input 0.10  
v3.25.4
Note 21 - Assets and Liabilities Measured and Reported at Fair Value - Assets Measured at fair Value on a Recurring Basis (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Securities available-for-sale $ 722,111 $ 990,114
Derivative 4,501 12,437
Rate Lock Loan Commitments [Member]    
Derivative 333 225
Mandatory Forward Contract [Member]    
Derivative   56
Mandatory forward contracts 49  
Fair Value, Recurring [Member]    
Securities available-for-sale 722,111 990,114
Mortgage loans held for sale 6,247 6,286
Interest rate swap assets 4,501 12,437
Total assets 733,192 1,009,148
Interest rate swap liabilities 6,319 8,589
Total liabilities 6,368  
Fair Value, Recurring [Member] | Rate Lock Loan Commitments [Member]    
Derivative 333 255
Fair Value, Recurring [Member] | Mandatory Forward Contract [Member]    
Derivative   56
Mandatory forward contracts 49  
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]    
Securities available-for-sale 0 198,215
Mortgage loans held for sale 0 0
Interest rate swap assets 0 0
Total assets 0 198,215
Interest rate swap liabilities 0 0
Total liabilities 0  
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Rate Lock Loan Commitments [Member]    
Derivative 0 0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Mandatory Forward Contract [Member]    
Derivative   0
Mandatory forward contracts 0  
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]    
Securities available-for-sale 722,111 791,899
Mortgage loans held for sale 6,247 6,286
Interest rate swap assets 4,501 12,437
Total assets 733,192 810,933
Interest rate swap liabilities 6,319 8,589
Total liabilities 6,368  
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Rate Lock Loan Commitments [Member]    
Derivative 333 255
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Mandatory Forward Contract [Member]    
Derivative   56
Mandatory forward contracts 49  
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]    
Securities available-for-sale 0 0
Mortgage loans held for sale 0 0
Interest rate swap assets 0 0
Total assets 0 0
Interest rate swap liabilities 0 0
Total liabilities 0  
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Rate Lock Loan Commitments [Member]    
Derivative 0 0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Mandatory Forward Contract [Member]    
Derivative   0
Mandatory forward contracts 0  
US Government-sponsored Enterprises Debt Securities [Member]    
Securities available-for-sale 72,819 84,158
US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Recurring [Member]    
Securities available-for-sale 72,819 84,158
US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]    
Securities available-for-sale 0 0
US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]    
Securities available-for-sale 72,819 84,158
US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]    
Securities available-for-sale 0 0
US Treasury and Government [Member] | Fair Value, Recurring [Member]    
Securities available-for-sale   198,215
US Treasury and Government [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]    
Securities available-for-sale   198,215
US Treasury and Government [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]    
Securities available-for-sale   0
US Treasury and Government [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]    
Securities available-for-sale   0
Mortgage-Backed Security, Issued by US Government-Sponsored Enterprise [Member]    
Securities available-for-sale 535,007 590,977
Mortgage-Backed Security, Issued by US Government-Sponsored Enterprise [Member] | Fair Value, Recurring [Member]    
Securities available-for-sale 535,007 590,977
Mortgage-Backed Security, Issued by US Government-Sponsored Enterprise [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]    
Securities available-for-sale 0 0
Mortgage-Backed Security, Issued by US Government-Sponsored Enterprise [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]    
Securities available-for-sale 535,007 590,977
Mortgage-Backed Security, Issued by US Government-Sponsored Enterprise [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]    
Securities available-for-sale 0 0
US States and Political Subdivisions Debt Securities [Member]    
Securities available-for-sale 113,754 114,234
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member]    
Securities available-for-sale 113,754 114,234
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]    
Securities available-for-sale 0 0
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]    
Securities available-for-sale 113,754 114,234
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]    
Securities available-for-sale 0 0
Other Debt Obligations [Member]    
Securities available-for-sale 531 2,530
Other Debt Obligations [Member] | Fair Value, Recurring [Member]    
Securities available-for-sale 531 2,530
Other Debt Obligations [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]    
Securities available-for-sale 0 0
Other Debt Obligations [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]    
Securities available-for-sale 531 2,530
Other Debt Obligations [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]    
Securities available-for-sale $ 0 $ 0
v3.25.4
Note 21 - Assets and Liabilities Measured and Reported at Fair Value - Assets Measured at Fair Value on a Non-recurring Basis (Details) - Fair Value, Nonrecurring [Member] - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Collateral dependent loans $ 14,684 $ 12,227 $ 13,561
Other real estate owned 190   10
Fair Value, Inputs, Level 1 [Member]      
Collateral dependent loans 0 0 0
Other real estate owned 0   0
Fair Value, Inputs, Level 2 [Member]      
Collateral dependent loans 0 0 0
Other real estate owned 0   0
Fair Value, Inputs, Level 3 [Member]      
Collateral dependent loans 14,684 $ 12,227 13,561
Other real estate owned $ 190   $ 10
v3.25.4
Note 21 - Assets and Liabilities Measured and Reported at Fair Value - Significant Unobservable Inputs (Details) - Impaired Loans [Member] - Fair Value, Inputs, Level 3 [Member] - Appraisal Discount Method [Member]
$ in Thousands
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Collateral dependent loans $ 14,684 $ 12,227
Other real estate owned $ 190  
Weighted Average [Member]    
Impaired Loans, Measurement Input 0.226 0.157
Other Real Estate Owned, Measurement Input 0.154  
v3.25.4
Note 22 - Disclosure of Financial Instruments Not Reported at Fair Value - Fair Value of Financial Instruments (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Cash and cash equivalents $ 886,376 $ 291,020
Accrued interest receivable 28,783 27,697
Non-interest bearing 1,435,846 1,456,138
Time deposits 1,736,534 1,237,788
Accrued interest payable 1,740 1,912
Reported Value Measurement [Member]    
Cash and cash equivalents 886,376 291,020
HTM debt securities 198,946 370,171
Federal Home Loan Bank stock 20,717 21,603
Loans, net 6,949,443 6,433,459
Accrued interest receivable 28,783 27,697
Non-interest bearing 1,435,846 1,456,138
Transaction deposits 4,618,757 4,472,475
Time deposits 1,736,534 1,237,788
Securities sold under agreement to repurchase 112,476 162,967
Federal funds purchased 7,289 6,525
Subordinated debentures 26,806 26,806
FHLB advances 300,000 300,000
Accrued interest payable 1,740 1,912
Estimate of Fair Value Measurement [Member]    
Cash and cash equivalents 886,376 291,020
HTM debt securities 181,203 341,357
Federal Home Loan Bank stock 20,717 21,603
Loans, net 6,872,537 6,256,752
Accrued interest receivable 28,783 27,697
Non-interest bearing 1,435,846 1,456,138
Transaction deposits 4,618,757 4,472,475
Time deposits 1,740,161 1,236,463
Securities sold under agreement to repurchase 112,476 162,967
Federal funds purchased 7,289 6,525
Subordinated debentures 26,547 26,346
FHLB advances 297,101 294,848
Accrued interest payable 1,740 1,912
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member]    
Cash and cash equivalents 886,376 291,020
HTM debt securities 1,982 153,108
Federal Home Loan Bank stock 0 0
Loans, net 0 0
Accrued interest receivable 28,783 27,697
Non-interest bearing 1,435,846 1,456,138
Transaction deposits 0 0
Time deposits 0 0
Securities sold under agreement to repurchase 0 0
Federal funds purchased 0 0
Subordinated debentures 0 0
FHLB advances 0 0
Accrued interest payable 1,740 1,912
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member]    
Cash and cash equivalents 0 0
HTM debt securities 179,221 188,249
Federal Home Loan Bank stock 20,717 21,603
Loans, net 0 0
Accrued interest receivable 0 0
Non-interest bearing 0 0
Transaction deposits 4,618,757 4,472,475
Time deposits 1,740,161 1,236,463
Securities sold under agreement to repurchase 112,476 162,967
Federal funds purchased 7,289 6,525
Subordinated debentures 26,547 26,346
FHLB advances 297,101 294,848
Accrued interest payable 0 0
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member]    
Cash and cash equivalents 0 0
HTM debt securities 0 0
Federal Home Loan Bank stock 0 0
Loans, net 6,872,537 6,256,752
Accrued interest receivable 0 0
Non-interest bearing 0 0
Transaction deposits 0 0
Time deposits 0 0
Securities sold under agreement to repurchase 0 0
Federal funds purchased 0 0
Subordinated debentures 0 0
FHLB advances 0 0
Accrued interest payable $ 0 $ 0
v3.25.4
Note 23 - Mortgage Banking Activities (Details Textual)
$ in Thousands
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Loan, Managed and Securitized or Asset-Backed Financing Arrangement, Principal Outstanding $ 1,730,000 $ 1,820,000
Measurement Input, Discount Rate [Member] | Minimum [Member]    
Servicing Asset, Measurement Input 0.095 0.10
Measurement Input, Discount Rate [Member] | Maximum [Member]    
Servicing Asset, Measurement Input 0.125 0.13
Measurement Input, Prepayment Rate [Member] | Minimum [Member]    
Servicing Asset, Measurement Input 0.068 0.053
Measurement Input, Prepayment Rate [Member] | Maximum [Member]    
Servicing Asset, Measurement Input 0.118 0.105
Measurement Input, Default Rate [Member]    
Servicing Asset, Measurement Input 0.005 0.006
Mortgage Servicing Rights [Member]    
Servicing Asset at Fair Value, Amount $ 22,000 $ 25,000
Valuation Allowance for Impairment of Recognized Servicing Assets, Balance $ 0 $ 0
v3.25.4
Note 23 - Mortgage Banking Activities - Activity in Mortgage Loans Held for Sale (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Balance, beginning of period: $ 6,286 $ 6,056 $ 2,606
Origination of mortgage loans held for sale 149,329 114,773 105,912
Proceeds from the sale of mortgage loans held for sale 0 0 0
Proceeds from the sale of mortgage loans held for sale (152,661) (116,974) (104,152)
Net gain realized on sale of mortgage loans held for sale 3,293 2,431 1,690
Balance, end of period $ 6,247 $ 6,286 $ 6,056
v3.25.4
Note 23 - Mortgage Banking Activities - Mortgage Banking Income (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Net gain realized on sale of mortgage loans held for sale $ 3,293 $ 2,431 $ 1,690
Net change in fair value recognized on loans held for sale 50 (4) 33
Net change in fair value recognized on rate lock loan commitments 110 41 23
Net gain recognized 2,995 2,687 1,896
Net loan servicing income 3,066 3,455 4,387
Amortization of mortgage servicing rights (2,386) (2,726) (2,961)
Change in mortgage servicing rights valuation allowance 0 0 0
Net servicing income recognized 680 729 1,426
Other mortgage banking income 448 442 383
Total mortgage banking income 4,123 3,858 3,705
Foreign Exchange Forward [Member]      
Net change in fair value recognized on forward contracts $ (458) $ 219 $ 150
v3.25.4
Note 23 - Mortgage Banking Activities - Changes in the Net Carrying Amount of MSRs (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Balance, beginning of period $ 11,333 $ 13,082 $ 15,219
Additions for mortgage loans sold 1,242 977 824
Amortization of mortgage servicing rights (2,386) (2,726) (2,961)
Impairment 0 0 0
Balance, end of period $ 10,189 $ 11,333 $ 13,082
v3.25.4
Note 23 - Mortgage Banking Activities - Notional amounts and Fair Values (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Mortgage loans held for sale, at carrying amount $ 6,111 $ 6,199
Mortgage loans held for sale, at fair value 6,247 6,286
Derivative assets 4,501 12,437
Rate Lock Loan Commitments [Member]    
Derivative assets 333 225
Mandatory Forward Contract [Member]    
Derivative, notional amount 10,250  
Derivative assets   56
Mandatory forward contracts 49  
Other Assets [Member] | Rate Lock Loan Commitments [Member]    
Derivative, notional amount $ 7,799 7,138
Other Assets [Member] | Mandatory Forward Contract [Member]    
Derivative, notional amount   $ 9,000
v3.25.4
Note 24 - Derivative Financial Instruments (Details Textual) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Aug. 06, 2024
Aug. 07, 2023
Feb. 06, 2023
Advance from Federal Home Loan Bank $ 300.0 $ 300.0      
Three Month Advance Maturing May 2023 [Member]          
Advance from Federal Home Loan Bank         $ 100.0
Three Month Advance Maturing November 2023 [Member]          
Advance from Federal Home Loan Bank       $ 50.0  
Three Month Advance Maturing November 2024 [Member]          
Advance from Federal Home Loan Bank 300.0   $ 100.0    
Interest Rate Swap [Member]          
Derivative, Fair Value, Net (1.6)        
Derivative Liability, Subject to Master Netting Arrangement, Collateral, Right to Reclaim Cash Offset $ 5.0        
v3.25.4
Note 24 - Derivative Financial Instruments - Outstanding Undesignated Interest Rate Swap (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member]    
Derivative, notional amount $ 300,000  
Fair value (1,964)  
Receiving [Member] | Not Designated as Hedging Instrument [Member]    
Notional amount $ 345,098 $ 244,247
Weighted average maturity (years) (Year) 4 years 5 years
Fair value $ 4,428 $ 8,589
Interest Rate Swap Maturing February 6, 2028 [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member]    
Derivative, notional amount $ 100,000  
Maturity Date Feb. 06, 2028  
Fixed rate 3.27%  
Fair value $ 73  
Paying [Member] | Not Designated as Hedging Instrument [Member]    
Notional amount $ 345,098 $ 244,247
Weighted average maturity (years) (Year) 4 years 5 years
Fair value $ 4,428 $ 8,589
Interest Rate Swap Maturing August 6, 2026 [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member]    
Derivative, notional amount $ 50,000  
Maturity Date Aug. 06, 2026  
Fixed rate 4.38%  
Fair value $ (294)  
Interest Rate Swap Maturing August 6, 2028 [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member]    
Derivative, notional amount $ 50,000  
Maturity Date Aug. 06, 2028  
Fixed rate 3.97%  
Fair value $ (888)  
Interest Rate Swap Maturing August 6, 2029 [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member]    
Derivative, notional amount $ 100,000  
Maturity Date Aug. 06, 2029  
Fixed rate 3.58%  
Fair value $ (855)  
v3.25.4
Note 25 - Regulatory Matters (Details Textual)
$ in Thousands
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Mar. 07, 2022
Banking Regulation, Capital Conservation Buffer, Capital Conserved, Minimum 0.025    
Common Equity Tier One Risk Based Capital, Required to Be Well Capitalized to Risk Weighted Assets Including Capital Conservation Buffer 7.00%    
Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets Including Capital Conservation Buffer 8.50%    
Capital Required for Capital Adequacy to Risk Weighted Assets Including Capital Conservation Buffer 10.50%    
Subordinated Debt $ 26,806 $ 26,806  
Commonwealth [Member]      
Business Combination, Voting Equity Interest Acquired, Percentage     100.00%
Subordinated Debt $ 27,000    
Commonwealth [Member] | Commonwealth Statutory Trust III [Member]      
Business Combination, Voting Equity Interest Acquired, Percentage     100.00%
Commonwealth [Member] | Commonwealth Statutory Trust IV [Member]      
Business Combination, Unconsolidated Trust Subsidiaries Acquired, Percent     100.00%
Commonwealth [Member] | Commonwealth Statutory Trust V [Member]      
Business Combination, Unconsolidated Trust Subsidiaries Acquired, Percent     100.00%
Subsidiaries [Member]      
Banking Regulation, Common Equity Tier 1 Risk-Based Capital Ratio, Well Capitalized, Minimum [1] 0.065 0.065  
Banking Regulation, Tier 1 Risk-Based Capital Ratio, Well Capitalized, Minimum [1] 0.08 0.08  
Banking Regulation, Total Risk-Based Capital Ratio, Well Capitalized, Minimum [1] 0.10 0.10  
Banking Regulation, Tier 1 Leverage Capital Ratio, Well Capitalized, Minimum 0.05 0.05  
[1] Ratio is computed in relation to risk-weighted assets.
v3.25.4
Note 25 - Regulatory Matters - Risk Based Capital Amounts and Ratios (Details)
$ in Thousands
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Total risk-based capital, actual amount [1] $ 1,057,932 $ 943,723
Total risk-based capital, actual ratio [1] 0.1342 0.1273
Total risk-based capital, minimum for adequately capitalized amount [1] $ 630,800 $ 593,201
Total risk-based capital, minimum for adequately capitalized ratio [1] 0.08 0.08
Common Equity Tier 1 risk-based capital, actual amount [1] $ 933,354 $ 828,386
Common Equity Tier 1 risk-based capital, actual ratio [1] 0.1184 0.1117
Common Equity Tier 1 risk-based capital, minimum for adequately capitalized amount [1] $ 354,825 $ 333,676
Common Equity Tier 1 risk-based capital, minimum for adequately capitalized ratio [1] 0.045 0.045
Tier 1 risk-based capital, actual amount [1] $ 959,354 $ 854,386
Tier 1 risk-based capita, actual ratio [1] 0.1217 0.1152
Tier 1 risk-based capital, minimum for adequately capitalized amount [1] $ 473,100 $ 444,901
Tier 1 risk-based capital, minimum for adequately capitalized ratio [1] 0.06 0.06
Leverage, actual amount $ 959,354 $ 854,386
Leverage, actual ratio 0.103 0.0994
Leverage, minimum for adequately capitalized amount $ 372,695 $ 343,886
Leverage, minimum for adequately capitalized ratio 0.04 0.04
Subsidiaries [Member]    
Total risk-based capital, actual amount [1] $ 1,030,454 $ 918,210
Total risk-based capital, actual ratio [1] 0.1307 0.1239
Total risk-based capital, minimum for adequately capitalized amount [1] $ 630,567 $ 593,002
Total risk-based capital, minimum for adequately capitalized ratio [1] 0.08 0.08
Total risk-based capital, minimum for well capitalized amount [1] $ 788,209 $ 741,252
Total risk-based capital, minimum for well capitalized ratio [1] 0.10 0.10
Common Equity Tier 1 risk-based capital, actual amount [1] $ 931,912 $ 828,873
Common Equity Tier 1 risk-based capital, actual ratio [1] 0.1182 0.1118
Common Equity Tier 1 risk-based capital, minimum for adequately capitalized amount [1] $ 354,694 $ 333,564
Common Equity Tier 1 risk-based capital, minimum for adequately capitalized ratio [1] 0.045 0.045
Common Equity Tier 1 risk-based capital, minimum for well capitalized amount [1] $ 512,336 $ 481,814
Common Equity Tier 1 risk-based capital, minimum for well capitalized ratio [1] 0.065 0.065
Tier 1 risk-based capital, actual amount [1] $ 931,912 $ 828,873
Tier 1 risk-based capita, actual ratio [1] 0.1182 0.1118
Tier 1 risk-based capital, minimum for adequately capitalized amount [1] $ 472,925 $ 444,751
Tier 1 risk-based capital, minimum for adequately capitalized ratio [1] 0.06 0.06
Tier 1 risk-based capital, minimum for well capitalized amount [1] $ 630,567 $ 593,002
Tier 1 risk-based capital, minimum for well capitalized ratio [1] 0.08 0.08
Leverage, actual amount $ 931,912 $ 828,873
Leverage, actual ratio 0.1001 0.0965
Leverage, minimum for adequately capitalized amount $ 372,449 $ 343,624
Leverage, minimum for adequately capitalized ratio 0.04 0.04
Leverage, minimum for well capitalized amount $ 465,561 $ 429,530
Leverage, minimum for well capitalized ratio 0.05 0.05
[1] Ratio is computed in relation to risk-weighted assets.
v3.25.4
Note 26 - Stock Yards Bancorp, Inc. (Parent Company Only) - Condensed Balance Sheets (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash on deposit with subsidiary bank $ 70,061 $ 78,925    
Other assets 305,006 308,750    
Total assets 9,536,124 8,863,419    
Other liabilities 220,979 258,332    
Equity, Attributable to Parent 1,075,697 940,476 $ 858,103 $ 760,432
Total liabilities and stockholders’ equity 9,536,124 8,863,419    
Parent Company [Member]        
Cash on deposit with subsidiary bank 1,978 2,481    
Investment in and receivable from subsidiaries 1,075,061 941,769    
Other assets 26,006 23,608    
Total assets 1,103,045 967,858    
Other liabilities 27,348 27,382    
Equity, Attributable to Parent 1,075,697 940,476    
Total liabilities and stockholders’ equity $ 1,103,045 $ 967,858    
v3.25.4
Note 26 - Stock Yards Bancorp, Inc. (Parent Company Only) - Condensed Statements of Income (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income - dividends and interest from subsidiaries $ 467,589 $ 412,879 $ 346,696
Income tax benefit 38,046 29,827 30,179
Net income 140,150 114,539 107,748
Parent Company [Member]      
Income - dividends and interest from subsidiaries 41,002 38,426 33,965
Other income 1 1 110
Less expenses 6,575 6,503 7,458
Income before income taxes and equity in undistributed net income of subsidiary 34,428 31,924 26,617
Income tax benefit (2,306) (3,323) (2,490)
Income before equity in undistributed net income of subsidiary 36,734 35,247 29,107
Equity in undistributed net income of subsidiary 103,416 79,292 78,641
Net income $ 140,150 $ 114,539 $ 107,748
v3.25.4
Note 26 - Stock Yards Bancorp, Inc. (Parent Company Only) - Condensed Statements of Cash Flows (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Net income available to stockholders $ 140,150 $ 114,539 $ 107,748
Stock compensation expense 4,408 3,773 4,464
Excess tax benefits from stock- based compensation arrangements (604) (1,228) (644)
Net cash provided by operating activities 166,046 142,868 106,703
Net cash used in investing activities (106,502) (677,057) (424,049)
Repurchase of common stock (2,091) (4,217) (2,695)
Cash dividends paid (37,106) (35,835) (34,575)
Net cash used in financing activities 535,812 559,250 415,938
Net increase (decrease) in cash 595,356 25,061 98,592
Beginning cash and cash equivalents 291,020 265,959 167,367
Ending cash and cash equivalents 886,376 291,020 265,959
Parent Company [Member]      
Net income available to stockholders 140,150 114,539 107,748
Equity in undistributed net income of subsidiaries (103,416) (79,292) (78,641)
Decrease (increase) in receivable from subsidiaries 0 0 2,971
Stock compensation expense 4,408 3,773 4,464
Excess tax benefits from stock- based compensation arrangements (604) (1,228) (644)
Change in other assets (2,400) (2,399) (1,696)
Change in other liabilities 556 1,329 402
Net cash provided by operating activities 38,694 36,722 34,604
Purchase of equity investment 0 0 (206)
Net cash used in investing activities 0 0 (206)
Repurchase of common stock (2,091) (4,217) (2,695)
Cash dividends paid (37,106) (35,835) (34,575)
Net cash used in financing activities (39,197) (40,052) (37,270)
Net increase (decrease) in cash (503) (3,330) (2,872)
Beginning cash and cash equivalents 2,481 5,811 8,683
Ending cash and cash equivalents $ 1,978 $ 2,481 $ 5,811
v3.25.4
Note 27 - Segments (Details Textual)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Number of Reportable Segments 2    
Goodwill $ 194,074 $ 194,074  
Commercial Banking [Member]      
Goodwill 172,000 172,000  
WM&T [Member]      
Goodwill 22,000 22,000  
Investment Management and Trust [Member]      
Assets under Management, Carrying Amount 7,640,000 $ 7,070,000 $ 7,160,000
Operating Segments [Member] | Commercial Banking [Member]      
Goodwill 172,000    
Operating Segments [Member] | WM&T [Member]      
Goodwill $ 22,000    
v3.25.4
Note 27 - Segments - Schedule of Segment Reporting Information (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Interest income $ 467,589 $ 412,879 $ 346,696
Interest expense 167,277 155,839 99,364
Net interest income 300,312 257,040 247,332
Provision for credit losses 6,700 9,725 13,796
Net interest income after provision expense 293,612 247,315 233,536
Total non-interest income 54,140 52,387 52,418
Total non-interest income 96,948 95,230 92,220
Compensation and employee benefits 131,817 121,110 110,327
Net occupancy and equipment 16,533 15,193 16,384
Technology and communication 19,295 19,207 17,318
Intangible amortization 3,658 4,485 4,686
Other direct and indirect/allocated expenses 41,061 38,184 39,114
Total non-interest expenses 212,364 198,179 187,829
Income before income tax expense 178,196 144,366 137,927
Income tax expense 38,046 29,827 30,179
Net income 140,150 114,539 107,748
Fiduciary and Trust [Member]      
Wealth management and trust services 42,808 42,843 39,802
Commercial Banking [Member]      
Interest income 466,476 411,829 345,988
Interest expense 167,277 155,839 99,364
Net interest income 299,199 255,990 246,624
Provision for credit losses 6,700 9,725 13,796
Net interest income after provision expense 292,499 246,265 232,828
Total non-interest income 54,140 52,387 52,418
Total non-interest income 54,140 52,387 52,418
Compensation and employee benefits 112,211 103,933 93,680
Net occupancy and equipment 15,549 14,396 13,917
Technology and communication 17,090 16,914 15,476
Intangible amortization 2,290 2,965 3,014
Other direct and indirect/allocated expenses 38,380 36,104 37,229
Total non-interest expenses 185,520 174,312 163,316
Income before income tax expense 161,119 124,340 121,930
Income tax expense 34,340 25,481 26,708
Net income 126,779 98,859 95,222
Commercial Banking [Member] | Fiduciary and Trust [Member]      
Wealth management and trust services 0 0 0
Investment Management and Trust [Member]      
Interest income 1,113 1,050 708
Interest expense 0 0 0
Net interest income 1,113 1,050 708
Provision for credit losses 0 0 0
Net interest income after provision expense 1,113 1,050 708
Total non-interest income 0 0 0
Total non-interest income 42,808 42,843 39,802
Compensation and employee benefits 19,606 17,177 16,647
Net occupancy and equipment 984 797 2,467
Technology and communication 2,205 2,293 1,842
Intangible amortization 1,368 1,520 1,672
Other direct and indirect/allocated expenses 2,681 2,080 1,885
Total non-interest expenses 26,844 23,867 24,513
Income before income tax expense 17,077 20,026 15,997
Income tax expense 3,706 4,346 3,471
Net income 13,371 15,680 12,526
Investment Management and Trust [Member] | Fiduciary and Trust [Member]      
Wealth management and trust services $ 42,808 $ 42,843 $ 39,802
v3.25.4
Note 28 - Revenue from Contracts with Customers (Details Textual) - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Trading Activity Charges Reducing Product Sales Commissions and Fees $ 1,200,000 $ 968,000
Contract with Customer, Liability 0  
Fiduciary and Trust [Member]    
Accrued Fees and Other Revenue Receivable $ 5,300,000 $ 4,500,000
v3.25.4
Note 28 - Revenue From Contracts With Customers - Disaggregation of Revenue (Details) - USD ($)
 3 Months Ended 12 Months Ended
Dec. 31, 2023
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Mortgage banking income [1]   $ 4,123,000 $ 3,858,000 $ 3,705,000
Debt Securities, Available-for-Sale, Realized Gain (Loss) $ (44,000) 0 0 [1] (44,000) [1]
Bank owned life insurance [1]   2,515,000 2,443,000 2,253,000
Gain on sale of premises and equipment [1]   72,000 (100,000) (30,000)
Other (2) [2]   2,925,000 2,563,000 4,992,000
Non-interest income   96,948,000 95,230,000 92,220,000
Fiduciary and Trust [Member]        
Non-interest income   42,808,000 42,843,000 39,802,000
Deposit Account [Member]        
Non-interest income   8,732,000 8,906,000 8,866,000
Credit and Debit Card [Member]        
Non-interest income   19,873,000 20,082,000 19,438,000
Treasury Management [Member]        
Non-interest income   11,679,000 11,064,000 10,033,000
Product Sales Commissions and Fees [Member]        
Non-interest income   4,221,000 3,571,000 3,205,000
Commercial Banking [Member]        
Mortgage banking income [1]   4,123,000 3,858,000 3,705,000
Debt Securities, Available-for-Sale, Realized Gain (Loss) [1]     0 (44,000)
Bank owned life insurance [1]   2,515,000 2,443,000 2,253,000
Gain on sale of premises and equipment [1]   72,000 (100,000) (30,000)
Other (2) [2]   2,925,000 2,563,000 4,992,000
Non-interest income   54,140,000 52,387,000 52,418,000
Commercial Banking [Member] | Fiduciary and Trust [Member]        
Non-interest income   0 0 0
Commercial Banking [Member] | Deposit Account [Member]        
Non-interest income   8,732,000 8,906,000 8,866,000
Commercial Banking [Member] | Credit and Debit Card [Member]        
Non-interest income   19,873,000 20,082,000 19,438,000
Commercial Banking [Member] | Treasury Management [Member]        
Non-interest income   11,679,000 11,064,000 10,033,000
Commercial Banking [Member] | Product Sales Commissions and Fees [Member]        
Non-interest income   4,221,000 3,571,000 3,205,000
WM&T [Member]        
Mortgage banking income [1]   0 0 0
Debt Securities, Available-for-Sale, Realized Gain (Loss) [1]     0 0
Bank owned life insurance [1]   0 0 0
Gain on sale of premises and equipment [1]   0 0 0
Other (2) [2]   0 0 0
Non-interest income   42,808,000 42,843,000 39,802,000
WM&T [Member] | Fiduciary and Trust [Member]        
Non-interest income   42,808,000 42,843,000 39,802,000
WM&T [Member] | Deposit Account [Member]        
Non-interest income   0 0 0
WM&T [Member] | Credit and Debit Card [Member]        
Non-interest income   0 0 0
WM&T [Member] | Treasury Management [Member]        
Non-interest income   0 0 0
WM&T [Member] | Product Sales Commissions and Fees [Member]        
Non-interest income   $ 0 $ 0 $ 0
[1] (1) Outside of the scope of ASC 606.
[2] (2) Outside of the scope of ASC 606, with the exception of safe deposit fees which were nominal for all periods.
v3.25.4
Note 29 - Subsequent Event (Details Textual) - USD ($)
$ in Thousands
Jan. 27, 2026
Dec. 31, 2025
Dec. 31, 2024
Total assets   $ 9,536,124 $ 8,863,419
Deposits   7,791,137 $ 7,166,401
Field & Main Bancorp, Inc. [Member]      
Total assets   861,000  
Financing Receivable, before Allowance for Credit Loss   652,000  
Deposits   781,000  
Tangible Common Equity   68,000  
Assets under Management, Carrying Amount   $ 800,000  
Field & Main Bancorp, Inc. [Member] | Subsequent Event [Member]      
Business Combination, Price of Acquisition, Expected $ 106,000    
Business Combination, Recognized Asset Acquired, Asset 10,400,000    
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Loans, Gross 7,900,000    
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deposits 8,600,000    
Business Combination, Recognized Asset Acquired, Assets Under Management $ 8,400,000