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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Lakeland Bancorp Inc | NASDAQ:LBAI | NASDAQ | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 13.43 | 13.20 | 16.00 | 0 | 01:00:00 |
For the quarterly period ended | March 31, 2023 | |||||||
OR | ||||||||
Commission file number | 000-17820 | |||||||
New Jersey | 22-2953275 | ||||
| (State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) | ||||
| Title of each class | Trading Symbol | Name of exchange on which registered | ||||||
| Common Stock, no par value | LBAI | The NASDAQ Stock Market | ||||||
| PAGE | ||||||||
Consolidated Balance Sheets as of March 31, 2023 (unaudited) and December 31, 2022 | ||||||||
Consolidated Statements of Income for the Three Months Ended March 31, 2023 and 2022 (unaudited) | ||||||||
Consolidated Statements of Comprehensive Income (Loss) for the Three Months Ended March 31, 2023 and 2022 (unaudited) | ||||||||
Consolidated Statements of Changes in Stockholders’ Equity for the Three Months Ended March 31, 2023 and 2022 (unaudited) | ||||||||
Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2023 and 2022 (unaudited) | ||||||||
Item 5. | ||||||||
| March 31, 2023 | December 31, 2022 | ||||||||||
| (dollars in thousands) | (unaudited) | ||||||||||
| Assets | |||||||||||
| Cash | $ | 261,261 | $ | 223,299 | |||||||
| Interest-bearing deposits due from banks | 13,681 | 12,651 | |||||||||
| Total cash and cash equivalents | 274,942 | 235,950 | |||||||||
Investment securities available for sale, at fair value (allowance for credit losses of $160 at March 31, 2023 and $310 at December 31, 2022) | 1,029,127 | 1,054,312 | |||||||||
Investment securities held to maturity (fair value of $762,720 at March 31, 2023 and $760,455 at December 31, 2022 and allowance for credit losses of $157 at March 31, 2023 and $107 at December 31, 2022) | 902,498 | 923,308 | |||||||||
| Equity securities, at fair value | 17,496 | 17,283 | |||||||||
| Federal Home Loan Bank and other membership bank stock, at cost | 45,806 | 42,483 | |||||||||
| Loans held for sale | — | 536 | |||||||||
| Loans, net of deferred fees | 7,952,553 | 7,866,050 | |||||||||
| Less: Allowance for credit losses | 71,403 | 70,264 | |||||||||
| Total loans, net | 7,881,150 | 7,795,786 | |||||||||
| Premises and equipment, net | 55,556 | 55,429 | |||||||||
| Operating lease right-of-use assets | 19,329 | 20,052 | |||||||||
| Accrued interest receivable | 34,220 | 33,374 | |||||||||
| Goodwill | 271,829 | 271,829 | |||||||||
| Other intangible assets | 8,572 | 9,088 | |||||||||
| Bank owned life insurance | 157,761 | 156,985 | |||||||||
| Other assets | 138,955 | 167,425 | |||||||||
| Total Assets | $ | 10,837,241 | $ | 10,783,840 | |||||||
| Liabilities and Stockholders' Equity | |||||||||||
| Liabilities | |||||||||||
| Deposits | $ | 8,536,943 | $ | 8,567,471 | |||||||
| Federal funds purchased and securities sold under agreements to repurchase | 813,328 | 728,797 | |||||||||
| Other borrowings | 25,000 | 25,000 | |||||||||
| Subordinated debentures | 194,376 | 194,264 | |||||||||
| Operating lease liabilities | 20,644 | 21,449 | |||||||||
| Other liabilities | 120,370 | 138,272 | |||||||||
| Total Liabilities | 9,710,661 | 9,675,253 | |||||||||
| Stockholders' Equity | |||||||||||
Common stock, no par value; authorized 100,000,000 shares; issued 65,148,180 shares and outstanding 65,017,145 shares at March 31, 2023 and issued 65,002,738 shares and outstanding 64,871,703 shares at December 31, 2022 | 855,657 | 855,425 | |||||||||
| Retained earnings | 339,680 | 329,375 | |||||||||
Treasury shares, at cost, 131,035 shares at March 31, 2023 and December 31, 2022 | (1,452) | (1,452) | |||||||||
| Accumulated other comprehensive loss | (67,305) | (74,761) | |||||||||
| Total Stockholders' Equity | 1,126,580 | 1,108,587 | |||||||||
| Total Liabilities and Stockholders' Equity | $ | 10,837,241 | $ | 10,783,840 | |||||||
| For the Three Months Ended March 31, | ||||||||||||||
| (in thousands, except per share data) | 2023 | 2022 | ||||||||||||
| Interest Income | ||||||||||||||
| Loans and fees | $ | 100,481 | $ | 67,809 | ||||||||||
| Federal funds sold and interest-bearing deposits with banks | 728 | 182 | ||||||||||||
| Taxable investment securities and other | 11,554 | 6,709 | ||||||||||||
| Tax-exempt investment securities | 1,642 | 1,302 | ||||||||||||
| Total Interest Income | 114,405 | 76,002 | ||||||||||||
| Interest Expense | ||||||||||||||
| Deposits | 29,158 | 4,039 | ||||||||||||
| Federal funds purchased and securities sold under agreements to repurchase | 7,222 | 20 | ||||||||||||
| Other borrowings | 2,100 | 1,555 | ||||||||||||
| Total Interest Expense | 38,480 | 5,614 | ||||||||||||
| Net Interest Income | 75,925 | 70,388 | ||||||||||||
| Provision for credit losses | 7,893 | 6,272 | ||||||||||||
| Net Interest Income after Provision for Credit Losses | 68,032 | 64,116 | ||||||||||||
| Noninterest Income | ||||||||||||||
| Service charges on deposit accounts | 2,789 | 2,626 | ||||||||||||
| Commissions and fees | 1,925 | 2,106 | ||||||||||||
| Income on bank owned life insurance | 776 | 830 | ||||||||||||
| Gain (loss) on equity securities | 148 | (485) | ||||||||||||
| Gains on sales of loans held for sale | 430 | 1,426 | ||||||||||||
| Swap income | 56 | — | ||||||||||||
| Other income | 141 | 277 | ||||||||||||
| Total Noninterest Income | 6,265 | 6,780 | ||||||||||||
| Noninterest Expense | ||||||||||||||
| Compensation and employee benefits | 29,996 | 27,679 | ||||||||||||
| Premises and equipment | 7,977 | 7,972 | ||||||||||||
| FDIC insurance expense | 963 | 672 | ||||||||||||
| Data processing expense | 1,862 | 1,670 | ||||||||||||
| Merger-related expenses | 295 | 4,585 | ||||||||||||
| Other expenses | 7,512 | 7,381 | ||||||||||||
| Total Noninterest Expense | 48,605 | 49,959 | ||||||||||||
| Income before provision for income taxes | 25,692 | 20,937 | ||||||||||||
| Provision for income taxes | 5,887 | 5,008 | ||||||||||||
| Net Income | $ | 19,805 | $ | 15,929 | ||||||||||
| Per Share of Common Stock | ||||||||||||||
| Basic earnings | $ | 0.30 | $ | 0.25 | ||||||||||
| Diluted earnings | $ | 0.30 | $ | 0.25 | ||||||||||
| Dividends paid | $ | 0.145 | $ | 0.135 | ||||||||||
| For the Three Months Ended March 31, | ||||||||||||||
| (in thousands) | 2023 | 2022 | ||||||||||||
| Net income | $ | 19,805 | $ | 15,929 | ||||||||||
| Other comprehensive gains (loss), net of tax: | ||||||||||||||
| Unrealized gains (losses) on securities available for sale | 7,582 | (30,965) | ||||||||||||
| Amortization of gain on debt securities reclassified to held to maturity | (126) | (135) | ||||||||||||
| Other comprehensive income (loss) | 7,456 | (31,100) | ||||||||||||
| Total comprehensive income (loss) | $ | 27,261 | $ | (15,171) | ||||||||||
| (in thousands, except per share data) | Common Stock | Retained Earnings | Treasury Stock | Accumulated Other Comprehensive Income (Loss) | Total | ||||||||||||||||||||||||
| January 1, 2022 | $ | 565,862 | $ | 259,340 | $ | (1,452) | $ | 3,264 | $ | 827,014 | |||||||||||||||||||
| Net income | — | 15,929 | — | — | 15,929 | ||||||||||||||||||||||||
| Other comprehensive loss, net of tax | — | — | — | (31,100) | (31,100) | ||||||||||||||||||||||||
| Issuance of stock for 1st Constitution acquisition | 285,742 | — | — | — | 285,742 | ||||||||||||||||||||||||
| Stock based compensation | 1,439 | — | — | — | 1,439 | ||||||||||||||||||||||||
| Retirement of restricted stock | (933) | — | — | — | (933) | ||||||||||||||||||||||||
Cash dividends on common stock of $0.135 per share | — | (8,809) | — | — | (8,809) | ||||||||||||||||||||||||
| March 31, 2022 | $ | 852,110 | $ | 266,460 | $ | (1,452) | $ | (27,836) | $ | 1,089,282 | |||||||||||||||||||
| January 1, 2023 | $ | 855,425 | $ | 329,375 | $ | (1,452) | $ | (74,761) | $ | 1,108,587 | |||||||||||||||||||
| Net income | — | 19,805 | — | — | 19,805 | ||||||||||||||||||||||||
| Other comprehensive income, net of tax | — | — | — | 7,456 | 7,456 | ||||||||||||||||||||||||
| Stock based compensation | 1,725 | — | — | — | 1,725 | ||||||||||||||||||||||||
| Retirement of restricted stock | (1,493) | — | — | — | (1,493) | ||||||||||||||||||||||||
Cash dividends on common stock of $0.145 per share | — | (9,500) | — | — | (9,500) | ||||||||||||||||||||||||
| March 31, 2023 | $ | 855,657 | $ | 339,680 | $ | (1,452) | $ | (67,305) | $ | 1,126,580 | |||||||||||||||||||
| For the Three Months Ended March 31, | |||||||||||
| (in thousands) | 2023 | 2022 | |||||||||
| Cash Flows from Operating Activities: | |||||||||||
| Net income | $ | 19,805 | $ | 15,929 | |||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
| Net amortization of premiums, discounts and deferred loan fees and costs | 1,287 | 1,271 | |||||||||
| Depreciation and amortization | 1,011 | 1,665 | |||||||||
| Amortization of intangible assets | 516 | 596 | |||||||||
| Amortization of operating lease right-of-use assets | 1,032 | 1,021 | |||||||||
| Provision for credit losses (benefit) | 7,893 | 6,272 | |||||||||
| Loans originated for sale | (10,341) | (25,379) | |||||||||
| Proceeds from sales of loans held for sale | 11,307 | 31,462 | |||||||||
| (Gain) loss on equity securities | (148) | 485 | |||||||||
| Income on bank owned life insurance | (776) | (777) | |||||||||
| Gains on proceeds from bank owned life insurance policies | — | (53) | |||||||||
| Gains on sales of loans held for sale | (430) | (1,426) | |||||||||
| Gains on other real estate and other repossessed assets | (4) | (8) | |||||||||
| Loss on sales of premises and equipment | — | 3 | |||||||||
| Loss on sale of asset | 41 | — | |||||||||
| Stock-based compensation | 1,725 | 1,439 | |||||||||
| Excess tax benefits | 138 | 79 | |||||||||
| Decrease (increase) in other assets | 22,861 | (1,860) | |||||||||
| Decrease in other liabilities | (19,156) | (1,379) | |||||||||
| Net Cash Provided by Operating Activities | 36,761 | 29,340 | |||||||||
| Cash Flows from Investing Activities: | |||||||||||
| Net cash acquired in acquisitions | — | 326,236 | |||||||||
| Proceeds from repayments and maturities of available for sale securities | 28,151 | 41,454 | |||||||||
| Proceeds from repayments and maturities of held to maturity securities | 19,579 | 42,432 | |||||||||
| Purchase of available for sale securities | — | (269,070) | |||||||||
| Purchase of held to maturity securities | — | (35,648) | |||||||||
| Purchase of equity securities | (65) | (32) | |||||||||
| Death benefit proceeds from bank owned life insurance policy | — | 95 | |||||||||
| Proceeds from redemptions of Federal Home Loan Bank stock | 48,022 | — | |||||||||
| Purchases of Federal Home Loan Bank stock | (51,345) | (119) | |||||||||
| Net increase in loans | (85,085) | (60,109) | |||||||||
| Proceeds from sales of other real estate and repossessed assets | 1,919 | 8 | |||||||||
| Proceeds from dispositions and sales of premises and equipment | — | 123 | |||||||||
| Purchases of premises and equipment | (2,012) | (944) | |||||||||
| Net Cash (Used in) Provided by Investing Activities | (40,836) | 44,426 | |||||||||
| Cash Flows from Financing Activities: | |||||||||||
| Net (decrease) increase in deposits | (30,471) | 132,657 | |||||||||
| Increase (decrease) in federal funds purchased and securities sold under agreements to repurchase | 84,531 | (3,542) | |||||||||
| Retirement of restricted stock | (1,493) | (933) | |||||||||
| Dividends paid | (9,500) | (8,809) | |||||||||
| Net Cash Provided by Financing Activities | 43,067 | 119,373 | |||||||||
| Net increase in cash and cash equivalents | 38,992 | 193,139 | |||||||||
| Cash and cash equivalents, beginning of period | 235,950 | 228,530 | |||||||||
| Cash and cash equivalents, end of period | $ | 274,942 | $ | 421,669 | |||||||
| For the Three Months Ended March 31, | |||||||||||
| (in thousands) | 2023 | 2022 | |||||||||
| Supplemental schedule of non-cash investing and financing activities: | |||||||||||
| Cash paid during the period for income taxes | $ | 257 | $ | 5,619 | |||||||
| Cash paid during the period for interest | 37,444 | 6,969 | |||||||||
| Right-of-use assets obtained in exchange for new lease liabilities | 309 | 89 | |||||||||
| Acquisitions: | |||||||||||
| Non-cash assets acquired: | |||||||||||
| Federal Home Loan Bank stock | — | 1,247 | |||||||||
| Investment securities available for sale | — | 217,774 | |||||||||
| Investment securities held to maturity | — | 124,485 | |||||||||
| Loans held for sale | — | 4,620 | |||||||||
| Loans | — | 1,095,266 | |||||||||
| Fixed Assets | — | 13,748 | |||||||||
| Operating lease right-of-use assets | — | 12,991 | |||||||||
| Goodwill and other intangible assets, net | — | 124,570 | |||||||||
| Bank owned life insurance | — | 37,580 | |||||||||
| Other assets | — | 8,820 | |||||||||
| Total non-cash assets acquired | — | 1,641,101 | |||||||||
| Liabilities assumed: | |||||||||||
| Deposits | — | 1,650,613 | |||||||||
| Subordinated debt | — | 14,734 | |||||||||
| Operating lease liabilities | — | 12,991 | |||||||||
| Other liabilities | — | 3,257 | |||||||||
| Total liabilities assumed | — | 1,681,595 | |||||||||
| Common stock issued | $ | — | $ | 285,742 | |||||||
| For the Three Months Ended March 31, | ||||||||||||||
| (in thousands, except per share data) | 2023 | 2022 | ||||||||||||
Net income available to common shareholders | $ | 19,805 | $ | 15,929 | ||||||||||
Less: earnings allocated to participating securities | 196 | 164 | ||||||||||||
Net income allocated to common shareholders | 19,609 | $ | 15,765 | |||||||||||
Weighted average number of common shares outstanding - basic | 64,966 | 63,961 | ||||||||||||
| Share-based plans | 262 | 277 | ||||||||||||
Weighted average number of common shares outstanding - diluted | 65,228 | 64,238 | ||||||||||||
| Basic earnings per share | $ | 0.30 | $ | 0.25 | ||||||||||
| Diluted earnings per share | $ | 0.30 | $ | 0.25 | ||||||||||
| March 31, 2023 | ||||||||||||||||||||||||||||||||
| (in thousands) | Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Allowance for Credit Losses | Fair Value | |||||||||||||||||||||||||||
| U.S. Treasury and U.S. government agencies | $ | 372,114 | $ | 95 | $ | (23,790) | $ | — | $ | 348,419 | ||||||||||||||||||||||
| Mortgage-backed securities, residential | 344,792 | 6 | (36,615) | — | 308,183 | |||||||||||||||||||||||||||
| Collateralized mortgage obligations, residential | 165,787 | — | (14,069) | — | 151,718 | |||||||||||||||||||||||||||
| Mortgage-backed securities, multifamily | 994 | — | (206) | — | 788 | |||||||||||||||||||||||||||
| Collateralized mortgage obligations, multifamily | 50,692 | — | (4,270) | — | 46,422 | |||||||||||||||||||||||||||
| Asset-backed securities | 50,826 | — | (1,577) | — | 49,249 | |||||||||||||||||||||||||||
| Obligations of states and political subdivisions | 21,993 | — | (701) | (2) | 21,290 | |||||||||||||||||||||||||||
| Corporate bonds | 115,703 | — | (12,487) | (158) | 103,058 | |||||||||||||||||||||||||||
| Total | $ | 1,122,901 | $ | 101 | $ | (93,715) | $ | (160) | $ | 1,029,127 | ||||||||||||||||||||||
| December 31, 2022 | ||||||||||||||||||||||||||||||||
| (in thousands) | Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Allowance for Credit Losses | Fair Value | |||||||||||||||||||||||||||
| U.S. Treasury and U.S. government agencies | $ | 383,958 | $ | 100 | $ | (28,419) | $ | — | $ | 355,639 | ||||||||||||||||||||||
| Mortgage-backed securities, residential | 351,355 | 6 | (40,748) | — | 310,613 | |||||||||||||||||||||||||||
| Collateralized mortgage obligations, residential | 170,502 | — | (16,444) | — | 154,058 | |||||||||||||||||||||||||||
| Mortgage-backed securities, multifamily | 1,000 | — | (215) | — | 785 | |||||||||||||||||||||||||||
| Collateralized mortgage obligations, multifamily | 51,108 | — | (4,775) | — | 46,333 | |||||||||||||||||||||||||||
| Asset-backed securities | 54,105 | — | (1,710) | — | 52,395 | |||||||||||||||||||||||||||
| Obligations of states and political subdivisions | 22,112 | — | (989) | (1) | 21,122 | |||||||||||||||||||||||||||
| Corporate bonds | 124,394 | — | (10,718) | (309) | 113,367 | |||||||||||||||||||||||||||
| Total | $ | 1,158,534 | $ | 106 | $ | (104,018) | $ | (310) | $ | 1,054,312 | ||||||||||||||||||||||
| March 31, 2023 | ||||||||||||||||||||||||||||||||
| (in thousands) | Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Allowance for Credit Losses | Fair Value | |||||||||||||||||||||||||||
| U.S. government agencies | $ | 10,968 | $ | 10 | $ | (622) | $ | — | $ | 10,356 | ||||||||||||||||||||||
| Mortgage-backed securities, residential | 354,514 | 123 | (52,843) | — | 301,794 | |||||||||||||||||||||||||||
| Collateralized mortgage obligations, residential | 12,813 | — | (2,325) | — | 10,488 | |||||||||||||||||||||||||||
| Mortgage-backed securities, multifamily | 5,071 | — | (665) | — | 4,406 | |||||||||||||||||||||||||||
| Obligations of states and political subdivisions | 516,289 | 4 | (83,042) | (45) | 433,206 | |||||||||||||||||||||||||||
| Corporate bonds | 3,000 | — | (418) | (112) | 2,470 | |||||||||||||||||||||||||||
| Total | $ | 902,655 | $ | 137 | $ | (139,915) | $ | (157) | $ | 762,720 | ||||||||||||||||||||||
| December 31, 2022 | ||||||||||||||||||||||||||||||||
| (in thousands) | Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Allowance for Credit Losses | Fair Value | |||||||||||||||||||||||||||
| U.S. government agencies | $ | 11,099 | $ | 11 | $ | (725) | $ | — | $ | 10,385 | ||||||||||||||||||||||
| Mortgage-backed securities, residential | 360,683 | 57 | (58,128) | — | 302,612 | |||||||||||||||||||||||||||
| Collateralized mortgage obligations, residential | 13,026 | — | (2,570) | — | 10,456 | |||||||||||||||||||||||||||
| Mortgage-backed securities, multifamily | 5,094 | — | (747) | — | 4,347 | |||||||||||||||||||||||||||
| Obligations of states and political subdivisions | 530,513 | 2 | (100,400) | (7) | 430,108 | |||||||||||||||||||||||||||
| Corporate bonds | 3,000 | — | (353) | (100) | 2,547 | |||||||||||||||||||||||||||
| Total | $ | 923,415 | $ | 70 | $ | (162,923) | $ | (107) | $ | 760,455 | ||||||||||||||||||||||
| Available for Sale | Held to Maturity | ||||||||||||||||||||||
| (in thousands) | Amortized Cost | Fair Value | Amortized Cost | Fair Value | |||||||||||||||||||
| Due in one year or less | $ | 42,276 | $ | 41,645 | $ | 54,927 | $ | 54,712 | |||||||||||||||
| Due after one year through five years | 250,381 | 235,641 | 33,746 | 32,297 | |||||||||||||||||||
| Due after five years through ten years | 155,291 | 139,130 | 77,738 | 68,421 | |||||||||||||||||||
| Due after ten years | 61,862 | 56,351 | 363,846 | 290,602 | |||||||||||||||||||
| 509,810 | 472,767 | 530,257 | 446,032 | ||||||||||||||||||||
| Mortgage-backed and asset-backed securities | 613,091 | 556,360 | 372,398 | 316,688 | |||||||||||||||||||
| Total | $ | 1,122,901 | $ | 1,029,127 | $ | 902,655 | $ | 762,720 | |||||||||||||||
| March 31, 2023 | Less Than 12 Months | 12 Months or Longer | Total | ||||||||||||||||||||||||||||||||||||||
| (dollars in thousands) | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | Number of Securities | Fair Value | Unrealized Losses | ||||||||||||||||||||||||||||||||||
| Available for Sale | |||||||||||||||||||||||||||||||||||||||||
U.S. Treasury and U.S. government agencies | $ | 13,915 | $ | 30 | $ | 319,832 | $ | 23,760 | 62 | $ | 333,747 | $ | 23,790 | ||||||||||||||||||||||||||||
| Mortgage-backed securities, residential | 5,635 | 315 | 301,414 | 36,300 | 134 | 307,049 | 36,615 | ||||||||||||||||||||||||||||||||||
| Collateralized mortgage obligations, residential | 16,300 | 503 | 135,417 | 13,566 | 104 | 151,717 | 14,069 | ||||||||||||||||||||||||||||||||||
| Mortgage-backed securities, multifamily | — | — | 788 | 206 | 1 | 788 | 206 | ||||||||||||||||||||||||||||||||||
| Collateralized mortgage obligations, multifamily | 10,716 | 141 | 35,706 | 4,129 | 20 | 46,422 | 4,270 | ||||||||||||||||||||||||||||||||||
Asset-backed securities | 3,316 | 13 | 45,933 | 1,564 | 17 | 49,249 | 1,577 | ||||||||||||||||||||||||||||||||||
Obligations of states and political subdivisions | 1,214 | 11 | 18,461 | 690 | 42 | 19,675 | 701 | ||||||||||||||||||||||||||||||||||
| Corporate bonds | 32,800 | 3,411 | 70,259 | 9,076 | 47 | 103,059 | 12,487 | ||||||||||||||||||||||||||||||||||
| Total | $ | 83,896 | $ | 4,424 | $ | 927,810 | $ | 89,291 | 427 | $ | 1,011,706 | $ | 93,715 | ||||||||||||||||||||||||||||
| Held to Maturity | |||||||||||||||||||||||||||||||||||||||||
| U.S. government agencies | $ | — | $ | — | $ | 9,115 | $ | 622 | 3 | $ | 9,115 | $ | 622 | ||||||||||||||||||||||||||||
| Mortgage-backed securities, residential | 20,853 | 849 | 274,937 | 51,994 | 183 | 295,790 | 52,843 | ||||||||||||||||||||||||||||||||||
| Collateralized mortgage obligations, residential | — | — | 10,488 | 2,325 | 11 | 10,488 | 2,325 | ||||||||||||||||||||||||||||||||||
| Mortgage-backed securities, multifamily | — | — | 4,406 | 665 | 4 | 4,406 | 665 | ||||||||||||||||||||||||||||||||||
Obligations of states and political subdivisions | 49,185 | 177 | 379,143 | 82,865 | 366 | 428,328 | 83,042 | ||||||||||||||||||||||||||||||||||
| Corporate bonds | — | — | 2,582 | 418 | 1 | 2,582 | 418 | ||||||||||||||||||||||||||||||||||
| Total | $ | 70,038 | $ | 1,026 | $ | 680,671 | $ | 138,889 | 568 | $ | 750,709 | $ | 139,915 | ||||||||||||||||||||||||||||
| December 31, 2022 | Less Than 12 Months | 12 Months or Longer | Total | ||||||||||||||||||||||||||||||||||||||
| (dollars in thousands) | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | Number of Securities | Fair Value | Unrealized Losses | ||||||||||||||||||||||||||||||||||
| Available for Sale | |||||||||||||||||||||||||||||||||||||||||
U.S. Treasury and U.S. government agencies | $ | 114,514 | $ | 5,856 | $ | 229,094 | $ | 22,563 | 67 | $ | 343,608 | $ | 28,419 | ||||||||||||||||||||||||||||
| Mortgage-backed securities, residential | 127,363 | 12,399 | 182,079 | 28,349 | 135 | 309,442 | 40,748 | ||||||||||||||||||||||||||||||||||
| Collateralized mortgage obligations, residential | 66,316 | 3,958 | 87,742 | 12,486 | 104 | 154,058 | 16,444 | ||||||||||||||||||||||||||||||||||
| Mortgage-backed securities, multifamily | — | — | 786 | 215 | 1 | 786 | 215 | ||||||||||||||||||||||||||||||||||
| Collateralized mortgage obligations, multifamily | 37,407 | 2,861 | 8,926 | 1,914 | 20 | 46,333 | 4,775 | ||||||||||||||||||||||||||||||||||
Asset-backed securities | 34,871 | 977 | 17,524 | 733 | 17 | 52,395 | 1,710 | ||||||||||||||||||||||||||||||||||
Obligations of states and political subdivisions | 3,771 | 276 | 16,746 | 713 | 46 | 20,517 | 989 | ||||||||||||||||||||||||||||||||||
| Corporate bonds | 88,489 | 7,437 | 22,880 | 3,281 | 49 | 111,369 | 10,718 | ||||||||||||||||||||||||||||||||||
| Total | $ | 472,731 | $ | 33,764 | $ | 565,777 | $ | 70,254 | 439 | $ | 1,038,508 | $ | 104,018 | ||||||||||||||||||||||||||||
| Held to Maturity | |||||||||||||||||||||||||||||||||||||||||
| U.S. government agencies | $ | 6,671 | $ | 336 | $ | 2,412 | $ | 389 | 3 | $ | 9,083 | $ | 725 | ||||||||||||||||||||||||||||
| Mortgage-backed securities, residential | $ | 32,549 | $ | 2,275 | $ | 264,035 | $ | 55,853 | 182 | $ | 296,584 | $ | 58,128 | ||||||||||||||||||||||||||||
| Collateralized mortgage obligations, residential | 4,668 | 516 | 5,787 | 2,054 | 12 | 10,455 | 2,570 | ||||||||||||||||||||||||||||||||||
| Collateralized mortgage obligations, multifamily | 2,671 | 376 | 1,676 | 371 | 4 | 4,347 | 747 | ||||||||||||||||||||||||||||||||||
Obligations of states and political subdivisions | 82,459 | 3,689 | 341,076 | 96,711 | 379 | 423,535 | 100,400 | ||||||||||||||||||||||||||||||||||
Debt securities | — | — | 2,647 | 353 | 1 | 2,647 | 353 | ||||||||||||||||||||||||||||||||||
| Total | $ | 129,018 | $ | 7,192 | $ | 617,633 | $ | 155,731 | 581 | $ | 746,651 | $ | 162,923 | ||||||||||||||||||||||||||||
| March 31, 2023 | AAA | AA | A | BBB | Not Rated | Total | ||||||||||||||||||||||||||||||||
| (in thousands) | ||||||||||||||||||||||||||||||||||||||
| U.S. government agencies | $ | 10,968 | $ | — | $ | — | $ | — | $ | — | $ | 10,968 | ||||||||||||||||||||||||||
| Mortgage-backed securities, residential | 354,514 | — | — | — | — | 354,514 | ||||||||||||||||||||||||||||||||
| Collateralized mortgage obligations, residential | 12,813 | — | — | — | — | 12,813 | ||||||||||||||||||||||||||||||||
| Mortgage-backed securities, multifamily | 5,071 | — | — | — | — | 5,071 | ||||||||||||||||||||||||||||||||
| Obligations of states and political subdivisions | 154,133 | 315,110 | 1,008 | — | 46,038 | 516,289 | ||||||||||||||||||||||||||||||||
| Corporate bonds | — | — | — | 3,000 | — | 3,000 | ||||||||||||||||||||||||||||||||
| Total | $ | 537,499 | $ | 315,110 | $ | 1,008 | $ | 3,000 | $ | 46,038 | $ | 902,655 | ||||||||||||||||||||||||||
| December 31, 2022 | AAA | AA | A | BBB | Not Rated | Total | ||||||||||||||||||||||||||||||||
| (in thousands) | ||||||||||||||||||||||||||||||||||||||
| U.S. government agencies | $ | 11,099 | $ | — | $ | — | $ | — | $ | — | $ | 11,099 | ||||||||||||||||||||||||||
| Mortgage-backed securities, residential | 360,683 | — | — | — | — | 360,683 | ||||||||||||||||||||||||||||||||
| Collateralized mortgage obligations, residential | 13,026 | — | — | — | — | 13,026 | ||||||||||||||||||||||||||||||||
| Mortgage-backed securities, multifamily | 5,094 | — | — | — | — | 5,094 | ||||||||||||||||||||||||||||||||
| Obligations of states and political subdivisions | 156,661 | 317,566 | 1,020 | — | 55,266 | 530,513 | ||||||||||||||||||||||||||||||||
| Corporate bonds | — | — | — | 3,000 | — | 3,000 | ||||||||||||||||||||||||||||||||
| Total | $ | 546,563 | $ | 317,566 | $ | 1,020 | $ | 3,000 | $ | 55,266 | $ | 923,415 | ||||||||||||||||||||||||||
| (in thousands) | March 31, 2023 | December 31, 2022 | ||||||||||||
| Non-owner occupied commercial | $ | 2,943,897 | $ | 2,906,014 | ||||||||||
| Owner occupied commercial | 1,205,635 | 1,246,189 | ||||||||||||
| Multifamily | 1,275,771 | 1,260,814 | ||||||||||||
| Non-owner occupied residential | 210,203 | 218,026 | ||||||||||||
| Commercial, industrial and other | 562,677 | 606,711 | ||||||||||||
| Construction | 404,994 | 380,100 | ||||||||||||
| Equipment finance | 161,889 | 151,574 | ||||||||||||
| Residential mortgage | 857,427 | 765,552 | ||||||||||||
| Home equity and consumer | 330,060 | 331,070 | ||||||||||||
| Total | $ | 7,952,553 | $ | 7,866,050 | ||||||||||
| Term Loans by Origination Year | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| (in thousands) | 2023 | 2022 | 2021 | 2020 | 2019 | Pre-2019 | Revolving Loans | Revolving to Term | Total | |||||||||||||||||||||||||||||||||||||||||||||||
| Non-owner occupied commercial | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Pass | $ | 76,797 | $ | 673,699 | $ | 385,422 | $ | 490,130 | $ | 285,439 | $ | 855,149 | $ | 16,413 | — | $ | 2,783,049 | |||||||||||||||||||||||||||||||||||||||
| Watch | — | 1,266 | — | 21,546 | 8,908 | 62,092 | — | — | 93,812 | |||||||||||||||||||||||||||||||||||||||||||||||
| Special mention | — | — | — | 5,476 | 824 | 29,599 | — | — | 35,899 | |||||||||||||||||||||||||||||||||||||||||||||||
| Substandard | — | — | — | — | — | 31,137 | — | — | 31,137 | |||||||||||||||||||||||||||||||||||||||||||||||
| Total | 76,797 | 674,965 | 385,422 | 517,152 | 295,171 | 977,977 | 16,413 | — | 2,943,897 | |||||||||||||||||||||||||||||||||||||||||||||||
| Owner occupied commercial | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Pass | 9,281 | 264,688 | 192,035 | 155,887 | 81,383 | 376,200 | 13,061 | 337 | 1,092,872 | |||||||||||||||||||||||||||||||||||||||||||||||
| Watch | — | — | 3,926 | 1,697 | 3,428 | 31,468 | 1,540 | — | 42,059 | |||||||||||||||||||||||||||||||||||||||||||||||
| Special mention | — | 578 | 16,933 | 5,705 | 4,924 | 18,671 | — | — | 46,811 | |||||||||||||||||||||||||||||||||||||||||||||||
| Substandard | — | — | 97 | 14,669 | 1,883 | 7,244 | — | — | 23,893 | |||||||||||||||||||||||||||||||||||||||||||||||
| Total | 9,281 | 265,266 | 212,991 | 177,958 | 91,618 | 433,583 | 14,601 | 337 | 1,205,635 | |||||||||||||||||||||||||||||||||||||||||||||||
| Multifamily | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Pass | 42,496 | 303,711 | 219,965 | 263,675 | 66,132 | 335,446 | 1,085 | — | 1,232,510 | |||||||||||||||||||||||||||||||||||||||||||||||
| Watch | — | — | 5,785 | 11,674 | — | 2,483 | — | — | 19,942 | |||||||||||||||||||||||||||||||||||||||||||||||
| Special mention | — | 500 | — | 2,408 | 3,844 | 11,203 | — | — | 17,955 | |||||||||||||||||||||||||||||||||||||||||||||||
| Substandard | — | — | — | — | — | 5,364 | — | — | 5,364 | |||||||||||||||||||||||||||||||||||||||||||||||
| Total | 42,496 | 304,211 | 225,750 | 277,757 | 69,976 | 354,496 | 1,085 | — | 1,275,771 | |||||||||||||||||||||||||||||||||||||||||||||||
| Non-owner occupied residential | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Pass | 1,516 | 36,575 | 29,077 | 20,250 | 25,280 | 81,870 | 5,301 | — | 199,869 | |||||||||||||||||||||||||||||||||||||||||||||||
| Watch | — | — | — | — | — | 5,412 | 75 | — | 5,487 | |||||||||||||||||||||||||||||||||||||||||||||||
| Special mention | — | — | — | — | 1,040 | 2,093 | — | — | 3,133 | |||||||||||||||||||||||||||||||||||||||||||||||
| Substandard | — | — | — | — | — | 1,714 | — | — | 1,714 | |||||||||||||||||||||||||||||||||||||||||||||||
| Total | 1,516 | 36,575 | 29,077 | 20,250 | 26,320 | 91,089 | 5,376 | — | 210,203 | |||||||||||||||||||||||||||||||||||||||||||||||
| Commercial, industrial and other | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Pass | 5,943 | 48,052 | 47,449 | 26,114 | 42,404 | 49,927 | 296,529 | 462 | 516,880 | |||||||||||||||||||||||||||||||||||||||||||||||
| Watch | — | 237 | 643 | 211 | 260 | 2,716 | 7,908 | — | 11,975 | |||||||||||||||||||||||||||||||||||||||||||||||
| Special mention | — | 1,145 | 245 | — | 158 | 2,257 | 23,971 | — | 27,776 | |||||||||||||||||||||||||||||||||||||||||||||||
| Substandard | — | — | 217 | — | 434 | 3,058 | 2,337 | — | 6,046 | |||||||||||||||||||||||||||||||||||||||||||||||
| Total | 5,943 | 49,434 | 48,554 | 26,325 | 43,256 | 57,958 | 330,745 | 462 | 562,677 | |||||||||||||||||||||||||||||||||||||||||||||||
| Construction | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Pass | 9,154 | 101,953 | 177,536 | 25,512 | 32,093 | 4,685 | 20,934 | — | 371,867 | |||||||||||||||||||||||||||||||||||||||||||||||
| Watch | — | 1,455 | 5,913 | 11,758 | — | — | 323 | — | 19,449 | |||||||||||||||||||||||||||||||||||||||||||||||
| Substandard | — | — | 95 | — | — | 13,583 | — | — | 13,678 | |||||||||||||||||||||||||||||||||||||||||||||||
| Total | 9,154 | 103,408 | 183,544 | 37,270 | 32,093 | 18,268 | 21,257 | — | 404,994 | |||||||||||||||||||||||||||||||||||||||||||||||
| Equipment finance | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Pass | 22,953 | 71,381 | 32,882 | 17,975 | 13,314 | 3,000 | — | — | 161,505 | |||||||||||||||||||||||||||||||||||||||||||||||
| Substandard | — | 100 | 91 | 55 | 109 | 29 | — | — | 384 | |||||||||||||||||||||||||||||||||||||||||||||||
| Total | 22,953 | 71,481 | 32,973 | 18,030 | 13,423 | 3,029 | — | — | 161,889 | |||||||||||||||||||||||||||||||||||||||||||||||
| Current YTD period: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Gross charge-offs | — | — | 61 | — | — | — | — | — | 61 | |||||||||||||||||||||||||||||||||||||||||||||||
| Term Loans by Origination Year | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| (in thousands) | 2023 | 2022 | 2021 | 2020 | 2019 | Pre-2019 | Revolving Loans | Revolving to Term | Total | |||||||||||||||||||||||||||||||||||||||||||||||
| Residential mortgage | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Pass | 104,154 | 319,686 | 165,213 | 109,090 | 34,879 | 122,487 | — | — | 855,509 | |||||||||||||||||||||||||||||||||||||||||||||||
| Substandard | — | — | — | — | 471 | 1,447 | — | — | 1,918 | |||||||||||||||||||||||||||||||||||||||||||||||
| Total | 104,154 | 319,686 | 165,213 | 109,090 | 35,350 | 123,934 | — | — | 857,427 | |||||||||||||||||||||||||||||||||||||||||||||||
| Consumer | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Pass | 5,440 | 44,471 | 30,291 | 8,383 | 3,966 | 22,741 | 213,637 | — | 328,929 | |||||||||||||||||||||||||||||||||||||||||||||||
| Substandard | — | — | — | — | — | 768 | 31 | 332 | 1,131 | |||||||||||||||||||||||||||||||||||||||||||||||
| Total | 5,440 | 44,471 | 30,291 | 8,383 | 3,966 | 23,509 | 213,668 | 332 | 330,060 | |||||||||||||||||||||||||||||||||||||||||||||||
| Current YTD period: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Gross charge-offs | 65 | 6 | 6 | — | 1 | — | — | — | 78 | |||||||||||||||||||||||||||||||||||||||||||||||
| Total loans | $ | 277,734 | $ | 1,869,497 | $ | 1,313,815 | $ | 1,192,215 | $ | 611,173 | $ | 2,083,843 | $ | 603,145 | $ | 1,131 | $ | 7,952,553 | ||||||||||||||||||||||||||||||||||||||
| Current YTD period: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Gross charge-offs | 65 | 6 | 67 | — | 1 | — | — | — | 139 | |||||||||||||||||||||||||||||||||||||||||||||||
| Term Loans by Origination Year | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| (in thousands) | 2022 | 2021 | 2020 | 2019 | 2018 | Pre-2018 | Revolving Loans | Revolving to Term | Total | |||||||||||||||||||||||||||||||||||||||||||||||
| Non-owner occupied commercial | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Pass | $ | 673,235 | $ | 391,748 | $ | 495,618 | $ | 271,109 | $ | 183,971 | $ | 703,852 | $ | 19,317 | 2,502 | $ | 2,741,352 | |||||||||||||||||||||||||||||||||||||||
| Watch | 1,272 | — | 21,720 | 26,906 | 12,099 | 48,314 | — | — | 110,311 | |||||||||||||||||||||||||||||||||||||||||||||||
| Special mention | — | — | 494 | 830 | 15,586 | 16,304 | — | — | 33,214 | |||||||||||||||||||||||||||||||||||||||||||||||
| Substandard | — | — | — | — | 133 | 21,004 | — | — | 21,137 | |||||||||||||||||||||||||||||||||||||||||||||||
| Total | 674,507 | 391,748 | 517,832 | 298,845 | 211,789 | 789,474 | 19,317 | 2,502 | 2,906,014 | |||||||||||||||||||||||||||||||||||||||||||||||
| Owner occupied commercial | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Pass | 267,754 | 198,131 | 191,603 | 85,343 | 61,581 | 317,434 | 13,328 | — | 1,135,174 | |||||||||||||||||||||||||||||||||||||||||||||||
| Watch | — | — | 2,888 | 3,520 | 4,728 | 28,659 | 75 | — | 39,870 | |||||||||||||||||||||||||||||||||||||||||||||||
| Special mention | 585 | 17,778 | 5,749 | 1,862 | 3,701 | 20,292 | — | — | 49,967 | |||||||||||||||||||||||||||||||||||||||||||||||
| Substandard | — | 97 | 8,876 | 1,899 | 475 | 9,831 | — | — | 21,178 | |||||||||||||||||||||||||||||||||||||||||||||||
| Total | 268,339 | 216,006 | 209,116 | 92,624 | 70,485 | 376,216 | 13,403 | — | 1,246,189 | |||||||||||||||||||||||||||||||||||||||||||||||
| Multifamily | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Pass | 312,910 | 221,306 | 265,187 | 67,072 | 95,432 | 249,021 | 5,288 | — | 1,216,216 | |||||||||||||||||||||||||||||||||||||||||||||||
| Watch | — | 5,817 | 11,692 | — | — | 2,504 | — | — | 20,013 | |||||||||||||||||||||||||||||||||||||||||||||||
| Special mention | 500 | — | 2,421 | — | — | 11,274 | — | — | 14,195 | |||||||||||||||||||||||||||||||||||||||||||||||
| Substandard | — | — | — | 3,864 | — | 6,526 | — | — | 10,390 | |||||||||||||||||||||||||||||||||||||||||||||||
| Total | 313,410 | 227,123 | 279,300 | 70,936 | 95,432 | 269,325 | 5,288 | — | 1,260,814 | |||||||||||||||||||||||||||||||||||||||||||||||
| Non-owner occupied residential | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Pass | 37,445 | 29,365 | 22,133 | 24,205 | 18,489 | 67,114 | 7,513 | 21 | 206,285 | |||||||||||||||||||||||||||||||||||||||||||||||
| Watch | — | — | — | 2,068 | — | 5,244 | 75 | — | 7,387 | |||||||||||||||||||||||||||||||||||||||||||||||
| Special mention | — | — | — | 507 | 822 | 1,017 | — | — | 2,346 | |||||||||||||||||||||||||||||||||||||||||||||||
| Substandard | — | — | — | — | — | 2,008 | — | — | 2,008 | |||||||||||||||||||||||||||||||||||||||||||||||
| Total | 37,445 | 29,365 | 22,133 | 26,780 | 19,311 | 75,383 | 7,588 | 21 | 218,026 | |||||||||||||||||||||||||||||||||||||||||||||||
| Commercial, industrial and other | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Pass | 48,719 | 51,894 | 27,644 | 57,124 | 13,936 | 39,892 | 339,040 | 245 | 578,494 | |||||||||||||||||||||||||||||||||||||||||||||||
| Watch | 251 | 704 | 237 | 211 | — | 1,424 | 10,001 | — | 12,828 | |||||||||||||||||||||||||||||||||||||||||||||||
| Special mention | 375 | 258 | — | 179 | 36 | 378 | 4,878 | — | 6,104 | |||||||||||||||||||||||||||||||||||||||||||||||
| Substandard | 776 | 242 | — | 450 | 4,722 | 183 | 2,912 | — | 9,285 | |||||||||||||||||||||||||||||||||||||||||||||||
| Total | 50,121 | 53,098 | 27,881 | 57,964 | 18,694 | 41,877 | 356,831 | 245 | 606,711 | |||||||||||||||||||||||||||||||||||||||||||||||
| Construction | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Pass | 79,420 | 172,849 | 35,295 | 31,447 | 7,245 | 4,005 | 19,294 | — | 349,555 | |||||||||||||||||||||||||||||||||||||||||||||||
| Watch | 1,159 | 5,480 | 10,299 | — | — | — | 171 | — | 17,109 | |||||||||||||||||||||||||||||||||||||||||||||||
| Substandard | — | 95 | — | — | — | 13,341 | — | — | 13,436 | |||||||||||||||||||||||||||||||||||||||||||||||
| Total | 80,579 | 178,424 | 45,594 | 31,447 | 7,245 | 17,346 | 19,465 | — | 380,100 | |||||||||||||||||||||||||||||||||||||||||||||||
| Equipment finance | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Pass | 74,840 | 36,087 | 20,382 | 15,738 | 3,862 | 546 | — | — | 151,455 | |||||||||||||||||||||||||||||||||||||||||||||||
| Substandard | — | — | — | 97 | 22 | — | — | — | 119 | |||||||||||||||||||||||||||||||||||||||||||||||
| Total | 74,840 | 36,087 | 20,382 | 15,835 | 3,884 | 546 | — | — | 151,574 | |||||||||||||||||||||||||||||||||||||||||||||||
| Residential mortgage | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Pass | 323,636 | 167,791 | 110,199 | 35,180 | 20,218 | 106,391 | — | — | 763,415 | |||||||||||||||||||||||||||||||||||||||||||||||
| Substandard | — | — | — | 490 | 341 | 1,306 | — | — | 2,137 | |||||||||||||||||||||||||||||||||||||||||||||||
| Total | 323,636 | 167,791 | 110,199 | 35,670 | 20,559 | 107,697 | — | — | 765,552 | |||||||||||||||||||||||||||||||||||||||||||||||
| Consumer | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Pass | 47,282 | 31,368 | 8,658 | 4,143 | 3,093 | 21,482 | 213,857 | — | 329,883 | |||||||||||||||||||||||||||||||||||||||||||||||
| Substandard | 33 | — | — | — | 23 | 853 | 278 | — | 1,187 | |||||||||||||||||||||||||||||||||||||||||||||||
| Total | 47,315 | 31,368 | 8,658 | 4,143 | 3,116 | 22,335 | 214,135 | — | 331,070 | |||||||||||||||||||||||||||||||||||||||||||||||
| Total loans | $ | 1,870,192 | $ | 1,331,010 | $ | 1,241,095 | $ | 634,244 | $ | 450,515 | $ | 1,700,199 | $ | 636,027 | $ | 2,768 | $ | 7,866,050 | ||||||||||||||||||||||||||||||||||||||
| March 31, 2023 | Past Due | |||||||||||||||||||||||||||||||||||||
| (in thousands) | Current | 30 - 59 Days | 60 - 89 Days | Greater than 89 days | Total | Total Loans | ||||||||||||||||||||||||||||||||
| Non-owner occupied commercial | $ | 2,943,274 | $ | — | $ | — | $ | 623 | $ | 623 | $ | 2,943,897 | ||||||||||||||||||||||||||
| Owner occupied commercial | 1,197,244 | 1,288 | — | 7,103 | 8,391 | 1,205,635 | ||||||||||||||||||||||||||||||||
| Multifamily | 1,275,187 | — | — | 584 | 584 | 1,275,771 | ||||||||||||||||||||||||||||||||
| Non-owner occupied residential | 210,186 | — | 17 | — | 17 | 210,203 | ||||||||||||||||||||||||||||||||
| Commercial, industrial and other | 560,510 | — | — | 2,167 | 2,167 | 562,677 | ||||||||||||||||||||||||||||||||
| Construction | 404,014 | — | — | 980 | 980 | 404,994 | ||||||||||||||||||||||||||||||||
| Equipment finance | 160,504 | 946 | 408 | 31 | 1,385 | 161,889 | ||||||||||||||||||||||||||||||||
| Residential mortgage | 852,974 | 3,395 | — | 1,058 | 4,453 | 857,427 | ||||||||||||||||||||||||||||||||
| Consumer | 328,326 | 1,066 | 273 | 395 | 1,734 | 330,060 | ||||||||||||||||||||||||||||||||
| Total | $ | 7,932,219 | $ | 6,695 | $ | 698 | $ | 12,941 | $ | 20,334 | $ | 7,952,553 | ||||||||||||||||||||||||||
| December 31, 2022 | Past Due | |||||||||||||||||||||||||||||||||||||
| (in thousands) | Current | 30 - 59 Days | 60 - 89 Days | Greater than 89 days | Total | Total Loans | ||||||||||||||||||||||||||||||||
| Non-owner occupied commercial | $ | 2,905,049 | $ | 346 | $ | — | $ | 619 | $ | 965 | $ | 2,906,014 | ||||||||||||||||||||||||||
| Owner occupied commercial | 1,235,134 | 2,854 | 477 | 7,724 | 11,055 | 1,246,189 | ||||||||||||||||||||||||||||||||
| Multifamily | 1,260,135 | — | 679 | — | 679 | 1,260,814 | ||||||||||||||||||||||||||||||||
| Non-owner occupied residential | 217,407 | 178 | — | 441 | 619 | 218,026 | ||||||||||||||||||||||||||||||||
| Commercial, industrial and other | 603,731 | 55 | 3 | 2,922 | 2,980 | 606,711 | ||||||||||||||||||||||||||||||||
| Construction | 379,120 | — | — | 980 | 980 | 380,100 | ||||||||||||||||||||||||||||||||
| Equipment finance | 150,842 | 494 | 238 | — | 732 | 151,574 | ||||||||||||||||||||||||||||||||
| Residential mortgage | 760,638 | 3,031 | 271 | 1,612 | 4,914 | 765,552 | ||||||||||||||||||||||||||||||||
| Consumer | 330,119 | 841 | 62 | 48 | 951 | 331,070 | ||||||||||||||||||||||||||||||||
| Total | $ | 7,842,175 | $ | 7,799 | $ | 1,730 | $ | 14,346 | $ | 23,875 | $ | 7,866,050 | ||||||||||||||||||||||||||
| March 31, 2023 | ||||||||||||||||||||||||||
| (in thousands) | Non-accrual | Interest Income Recognized on Non-accrual Loans | Amortized Cost Basis of Loans > 89 days Past due but still accruing | Amortized Cost Basis of Non-accrual Loans without Related Allowance | ||||||||||||||||||||||
| Non-owner occupied commercial | $ | 908 | $ | — | $ | — | $ | — | ||||||||||||||||||
| Owner occupied commercial | 8,757 | — | — | 8,482 | ||||||||||||||||||||||
| Multifamily | 584 | — | — | — | ||||||||||||||||||||||
| Non-owner occupied residential | — | — | — | — | ||||||||||||||||||||||
| Commercial, industrial and other | 2,221 | — | — | — | ||||||||||||||||||||||
| Construction | 980 | — | — | 980 | ||||||||||||||||||||||
| Equipment finance | 379 | — | — | — | ||||||||||||||||||||||
| Residential mortgage | 1,918 | — | — | — | ||||||||||||||||||||||
| Consumer | 1,131 | — | — | 72 | ||||||||||||||||||||||
| Total | $ | 16,878 | $ | — | $ | — | $ | 9,534 | ||||||||||||||||||
| December 31, 2022 | ||||||||||||||||||||||||||
| (in thousands) | Non-accrual | Interest Income Recognized on Non-accrual Loans | Amortized Cost Basis of Loans > 89 days Past due but still accruing | Amortized Cost Basis of Non-accrual Loans without Related Allowance | ||||||||||||||||||||||
| Non-owner occupied commercial | $ | 618 | $ | — | $ | — | $ | — | ||||||||||||||||||
| Owner occupied commercial | 9,439 | — | — | 8,859 | ||||||||||||||||||||||
| Non-owner occupied residential | 441 | — | — | 440 | ||||||||||||||||||||||
| Commercial, industrial and other | 2,978 | — | — | — | ||||||||||||||||||||||
| Construction | 980 | — | — | 980 | ||||||||||||||||||||||
| Equipment finance | 114 | — | — | — | ||||||||||||||||||||||
| Residential mortgage | 2,011 | — | — | — | ||||||||||||||||||||||
| Consumer | 781 | — | — | 79 | ||||||||||||||||||||||
| Total | $ | 17,362 | $ | — | $ | — | $ | 10,358 | ||||||||||||||||||
| (in thousands) | PCD Loans | ||||
| Gross amortized cost basis | $ | 140,300 | |||
| Interest component of expected cash flows (accretable difference) | (3,792) | ||||
| Allowance for credit losses on PCD loans | (12,077) | ||||
| Net PCD loans | $ | 124,431 | |||
| For the Three Months Ended March 31, | ||||||||||||||
| (in thousands) | 2023 | 2022 | ||||||||||||
| Balance at beginning of the period | $ | 70,264 | $ | 58,047 | ||||||||||
| Initial allowance for credit losses on PCD loans | — | 12,077 | ||||||||||||
| Charge-offs on PCD loans | — | (7,634) | ||||||||||||
| Charge-offs | (139) | (170) | ||||||||||||
| Recoveries | 65 | 162 | ||||||||||||
| Net charge-offs | (74) | (7,642) | ||||||||||||
| Provision for credit loss - loans | 1,213 | 4,630 | ||||||||||||
| Balance at end of the period | $ | 71,403 | $ | 67,112 | ||||||||||
| (in thousands) | Balance at December 31, 2022 | Charge-offs | Recoveries | Provision (Benefit) for Credit Loss | Balance at March 31, 2023 | |||||||||||||||||||||||||||
| Non-owner occupied commercial | $ | 23,462 | $ | — | $ | — | $ | 819 | $ | 24,281 | ||||||||||||||||||||||
| Owner occupied commercial | 6,696 | — | — | (638) | 6,058 | |||||||||||||||||||||||||||
| Multifamily | 9,425 | — | — | (415) | 9,010 | |||||||||||||||||||||||||||
| Non-owner occupied residential | 2,643 | — | — | (50) | 2,593 | |||||||||||||||||||||||||||
| Commercial, industrial and other | 8,836 | — | 35 | (760) | 8,111 | |||||||||||||||||||||||||||
| Construction | 2,968 | — | — | 137 | 3,105 | |||||||||||||||||||||||||||
| Equipment finance | 3,445 | (61) | 15 | 1,049 | 4,448 | |||||||||||||||||||||||||||
| Residential mortgage | 8,041 | — | — | 903 | 8,944 | |||||||||||||||||||||||||||
| Consumer | 4,748 | (78) | 15 | 168 | 4,853 | |||||||||||||||||||||||||||
| Total | $ | 70,264 | $ | (139) | $ | 65 | $ | 1,213 | $ | 71,403 | ||||||||||||||||||||||
| (in thousands) | Balance at December 31, 2021 | Initial allowance for credit losses on PCD loans | Charge-offs | Recoveries | (Benefit) Provision for Credit Loss | Balance at March 31, 2022 | ||||||||||||||||||||||||||||||||
| Non owner occupied commercial | $ | 20,071 | $ | 1,312 | $ | (4) | $ | — | $ | 2,270 | $ | 23,649 | ||||||||||||||||||||||||||
| Owner occupied commercial | 3,964 | 1,137 | (34) | 10 | 1,048 | 6,125 | ||||||||||||||||||||||||||||||||
| Multifamily | 8,309 | 4 | — | — | (13) | 8,300 | ||||||||||||||||||||||||||||||||
| Non owner occupied residential | 2,380 | 175 | — | 14 | 339 | 2,908 | ||||||||||||||||||||||||||||||||
| Commercial, industrial and other | 9,891 | 2,413 | (823) | 45 | 148 | 11,674 | ||||||||||||||||||||||||||||||||
| Construction | 838 | 6,843 | (6,807) | 3 | 850 | 1,727 | ||||||||||||||||||||||||||||||||
| Equipment finance | 3,663 | — | (97) | 15 | (1,122) | 2,459 | ||||||||||||||||||||||||||||||||
| Residential mortgage | 3,914 | 179 | — | 48 | 1,545 | 5,686 | ||||||||||||||||||||||||||||||||
| Consumer | 5,017 | 14 | (39) | 27 | (435) | 4,584 | ||||||||||||||||||||||||||||||||
| Total | $ | 58,047 | $ | 12,077 | $ | (7,804) | $ | 162 | $ | 4,630 | $ | 67,112 | ||||||||||||||||||||||||||
| March 31, 2023 | Loans | Allowance for Credit Losses | ||||||||||||||||||||||||||||||||||||||||||
| (in thousands) | Individually evaluated for impairment | Collectively evaluated for impairment | Acquired with deteriorated credit quality | Total | Individually evaluated for impairment | Collectively evaluated for impairment | Total | |||||||||||||||||||||||||||||||||||||
| Non-owner occupied commercial | $ | — | $ | 2,910,091 | $ | 33,806 | $ | 2,943,897 | $ | 749 | $ | 23,532 | $ | 24,281 | ||||||||||||||||||||||||||||||
| Owner occupied commercial | 8,297 | 1,167,784 | 29,554 | 1,205,635 | 811 | 5,247 | 6,058 | |||||||||||||||||||||||||||||||||||||
| Multifamily | — | 1,269,415 | 6,356 | 1,275,771 | 5 | 9,005 | 9,010 | |||||||||||||||||||||||||||||||||||||
| Non-owner occupied residential | 523 | 208,629 | 1,051 | 210,203 | 15 | 2,578 | 2,593 | |||||||||||||||||||||||||||||||||||||
| Commercial, industrial and other | 2,027 | 551,333 | 9,317 | 562,677 | 1,669 | 6,442 | 8,111 | |||||||||||||||||||||||||||||||||||||
| Construction | 980 | 404,014 | — | 404,994 | — | 3,105 | 3,105 | |||||||||||||||||||||||||||||||||||||
| Equipment finance | — | 161,889 | — | 161,889 | — | 4,448 | 4,448 | |||||||||||||||||||||||||||||||||||||
| Residential mortgage | — | 856,218 | 1,209 | 857,427 | 159 | 8,785 | 8,944 | |||||||||||||||||||||||||||||||||||||
| Consumer | — | 329,912 | 148 | 330,060 | — | 4,853 | 4,853 | |||||||||||||||||||||||||||||||||||||
| Total loans | $ | 11,827 | $ | 7,859,285 | $ | 81,441 | $ | 7,952,553 | $ | 3,408 | $ | 67,995 | $ | 71,403 | ||||||||||||||||||||||||||||||
| December 31, 2022 | Loans | Allowance for Credit Losses | ||||||||||||||||||||||||||||||||||||||||||
| (in thousands) | Individually evaluated for impairment | Collectively evaluated for impairment | Acquired with deteriorated credit quality | Total | Individually evaluated for impairment | Collectively evaluated for impairment | Total | |||||||||||||||||||||||||||||||||||||
| Non-owner occupied commercial | $ | — | $ | 2,871,950 | $ | 34,064 | 2,906,014 | $ | 753 | $ | 22,709 | $ | 23,462 | |||||||||||||||||||||||||||||||
| Owner occupied commercial | 12,041 | 1,202,919 | 31,229 | 1,246,189 | 983 | 5,713 | 6,696 | |||||||||||||||||||||||||||||||||||||
| Multifamily | — | 1,254,412 | 6,402 | 1,260,814 | 5 | 9,420 | 9,425 | |||||||||||||||||||||||||||||||||||||
| Non-owner occupied residential | 441 | 216,516 | 1,069 | 218,026 | 16 | 2,627 | 2,643 | |||||||||||||||||||||||||||||||||||||
| Commercial, industrial and other | 2,806 | 594,568 | 9,337 | 606,711 | 2,150 | 6,686 | 8,836 | |||||||||||||||||||||||||||||||||||||
| Construction | 980 | 379,120 | — | 380,100 | — | 2,968 | 2,968 | |||||||||||||||||||||||||||||||||||||
| Equipment finance | — | 151,574 | — | 151,574 | — | 3,445 | 3,445 | |||||||||||||||||||||||||||||||||||||
| Residential mortgage | — | 764,340 | 1,212 | 765,552 | 181 | 7,860 | 8,041 | |||||||||||||||||||||||||||||||||||||
| Consumer | — | 330,920 | 150 | 331,070 | 3 | 4,745 | 4,748 | |||||||||||||||||||||||||||||||||||||
| Total loans | $ | 16,268 | $ | 7,766,319 | $ | 83,463 | $ | 7,866,050 | $ | 4,091 | $ | 66,173 | $ | 70,264 | ||||||||||||||||||||||||||||||
| Available for Sale | For the Three Months Ended March 31, | |||||||||||||
| (in thousands) | 2023 | 2022 | ||||||||||||
| Balance at beginning of the period | $ | 310 | $ | 83 | ||||||||||
| Charge-offs | $ | (6,640) | $ | — | ||||||||||
| Recoveries | $ | — | $ | — | ||||||||||
| Net charge-offs | $ | (6,640) | $ | — | ||||||||||
| Provision for credit loss expense | 6,490 | 1,184 | ||||||||||||
| Balance at end of the period | $ | 160 | $ | 1,267 | ||||||||||
| Held to Maturity | For the Three Months Ended March 31, | |||||||||||||
| (in thousands) | 2023 | 2022 | ||||||||||||
| Balance at beginning of the period | $ | 107 | $ | 181 | ||||||||||
| Provision for credit loss expense | 50 | 18 | ||||||||||||
| Balance at end of the period | $ | 157 | $ | 199 | ||||||||||
| For the Three Months Ended March 31, | ||||||||||||||
| (in thousands) | 2023 | 2022 | ||||||||||||
| Operating lease cost | $ | 1,190 | $ | 1,226 | ||||||||||
| Short-term lease cost | — | 10 | ||||||||||||
| Variable lease cost | 15 | 17 | ||||||||||||
| Sublease income | (32) | (30) | ||||||||||||
| Net lease cost | $ | 1,173 | $ | 1,223 | ||||||||||
| Three Months Ended March 31, | |||||||||||
| (in thousands) | 2023 | 2022 | |||||||||
| Cash paid for amounts included in the measurement of lease liabilities: | |||||||||||
| Operating cash flows from operating leases | $ | 1,113 | $ | 930 | |||||||
| Right-of-use assets obtained in exchange for new operating lease liabilities | 309 | 89 | |||||||||
| (in thousands) | ||||||||
| Within one year | $ | 3,649 | ||||||
| After one year but within three years | 7,914 | |||||||
| After three years but within five years | 4,926 | |||||||
| After five years | 7,249 | |||||||
| Total undiscounted cash flows | 23,738 | |||||||
| Discount on cash flows | (3,094) | |||||||
| Total operating lease liabilities | $ | 20,644 | ||||||
| (dollars in thousands) | March 31, 2023 | December 31, 2022 | ||||||||||||||||||||||||
| Noninterest-bearing demand | $ | 1,998,590 | 23.4 | % | $ | 2,113,289 | 24.7 | % | ||||||||||||||||||
| Interest-bearing checking | 2,938,992 | 34.4 | % | 3,079,249 | 35.9 | % | ||||||||||||||||||||
| Money market | 1,093,983 | 12.8 | % | 1,192,353 | 13.9 | % | ||||||||||||||||||||
| Savings | 885,066 | 10.4 | % | 974,403 | 11.4 | % | ||||||||||||||||||||
| Certificates of deposit $250 thousand and under | 1,233,856 | 14.5 | % | 901,505 | 10.5 | % | ||||||||||||||||||||
| Certificates of deposit over $250 thousand | 386,456 | 4.5 | % | 306,672 | 3.6 | % | ||||||||||||||||||||
| Total deposits | $ | 8,536,943 | 100.0 | % | $ | 8,567,471 | 100.0 | % | ||||||||||||||||||
| Number of Shares | Weighted Average Price | ||||||||||
| Outstanding, January 1, 2023 | 17,722 | $ | 19.74 | ||||||||
| Granted | 18,520 | 17.95 | |||||||||
| Vested | (17,722) | 19.74 | |||||||||
| Outstanding, March 31, 2023 | 18,520 | $ | 17.95 | ||||||||
| Number of Shares | Weighted Average Price | ||||||||||
| Outstanding, January 1, 2023 | 589,420 | $ | 17.21 | ||||||||
| Granted | 269,070 | 19.15 | |||||||||
| Vested | (219,695) | 16.27 | |||||||||
| Forfeited | (1,932) | 18.56 | |||||||||
| Outstanding, March 31, 2023 | 636,863 | $ | 18.35 | ||||||||
| For the Three Months Ended March 31, | ||||||||||||||
| (in thousands) | 2023 | 2022 | ||||||||||||
| Deposit-Related Fees and Charges | ||||||||||||||
| Debit card interchange income | $ | 1,610 | $ | 1,572 | ||||||||||
| Overdraft charges | 840 | 769 | ||||||||||||
| ATM service charges | 178 | 171 | ||||||||||||
| Demand deposit fees and charges | 139 | 94 | ||||||||||||
| Savings service charges | 22 | 20 | ||||||||||||
| Total deposit-related fees and charges | 2,789 | 2,626 | ||||||||||||
| Commissions and fees | ||||||||||||||
| Loan fees | 547 | 809 | ||||||||||||
| Wire transfer charges | 432 | 457 | ||||||||||||
| Investment services income | 429 | 405 | ||||||||||||
| Merchant fees | 291 | 251 | ||||||||||||
| Commissions from sales of checks | 88 | 84 | ||||||||||||
| Safe deposit income | 103 | 54 | ||||||||||||
| Other income | 31 | 37 | ||||||||||||
| Total commissions and fees | 1,921 | 2,097 | ||||||||||||
| Gains on sales of loans held for sale | 430 | 1,426 | ||||||||||||
| Other income | ||||||||||||||
| Gains on customer swap transactions | 56 | — | ||||||||||||
| Title insurance income | 19 | — | ||||||||||||
| Other income | 133 | 269 | ||||||||||||
| Total other income | 208 | 269 | ||||||||||||
| Revenue not from contracts with customers | 917 | 362 | ||||||||||||
| Total Noninterest Income | $ | 6,265 | $ | 6,780 | ||||||||||
| Timing of Revenue Recognition: | ||||||||||||||
| Products and services transferred at a point in time | 5,348 | 6,418 | ||||||||||||
| Revenue not from contracts with customers | 917 | 362 | ||||||||||||
| Total Noninterest Income | $ | 6,265 | $ | 6,780 | ||||||||||
| For the Three Months Ended March 31, | ||||||||||||||
| (in thousands) | 2023 | 2022 | ||||||||||||
| Consulting and advisory board fees | 1,001 | 1,054 | ||||||||||||
| ATM and debit card expense | 724 | 657 | ||||||||||||
| Telecommunications expense | 657 | 582 | ||||||||||||
| Marketing expense | 511 | 397 | ||||||||||||
| Intangible asset amortization | 516 | 596 | ||||||||||||
| Other operating expenses | 4,103 | 4,095 | ||||||||||||
| Total other operating expenses | $ | 7,512 | $ | 7,381 | ||||||||||
| For the Three Months Ended | |||||||||||||||||||||||||||||||||||
| March 31, 2023 | March 31, 2022 | ||||||||||||||||||||||||||||||||||
| (in thousands) | Before Tax Amount | Tax Benefit (Expense) | Net of Tax Amount | Before Tax Amount | Tax Benefit | Net of Tax Amount | |||||||||||||||||||||||||||||
| Unrealized gains (losses) on available for sale securities arising during the period | $ | 10,298 | $ | (2,716) | $ | 7,582 | $ | (41,964) | $ | 10,999 | $ | (30,965) | |||||||||||||||||||||||
| Amortization of gain on debt securities reclassified to held to maturity from available for sale | (172) | 46 | (126) | (176) | 41 | (135) | |||||||||||||||||||||||||||||
| Other comprehensive income (loss), net | $ | 10,126 | $ | (2,670) | $ | 7,456 | $ | (42,140) | $ | 11,040 | $ | (31,100) | |||||||||||||||||||||||
| For the Three Months Ended March 31, 2023 | ||||||||||||||||||||
| (in thousands) | Unrealized Gains (Losses) on Available for Sale Securities | Amortization of Gain on Debt Securities Reclassified to Held to Maturity | Total | |||||||||||||||||
| Beginning balance | $ | (76,729) | $ | 1,968 | $ | (74,761) | ||||||||||||||
| Net current period other comprehensive income | 7,582 | (126) | 7,456 | |||||||||||||||||
| Ending balance | $ | (69,147) | $ | 1,842 | $ | (67,305) | ||||||||||||||
| For the Three Months Ended March 31, 2022 | ||||||||||||||||||||
| (in thousands) | Unrealized Gains (Losses) on Available for Sale Securities | Amortization of Gain on Debt Securities Reclassified to Held to Maturity | Total | |||||||||||||||||
| Beginning balance | $ | 745 | $ | 2,519 | $ | 3,264 | ||||||||||||||
| Net current period other comprehensive loss | (30,965) | (135) | (31,100) | |||||||||||||||||
| Ending balance | $ | (30,220) | $ | 2,384 | $ | (27,836) | ||||||||||||||
| March 31, 2023 | Notional Amount | Average Maturity (Years) | Weighted Average Fixed Rate | Weighted Average Variable Rate | Fair Value | |||||||||||||||||||||||||||
| Classified in Other Assets: | ||||||||||||||||||||||||||||||||
| Third Party interest rate swaps | $ | 887,187 | 7.3 | 3.66 | % | 1 Mo. SOFR + 2.00 | $ | 77,078 | ||||||||||||||||||||||||
| Third Party interest rate swaps | 48,237 | 1.2 | 3.40 | % | 1 Mo. LIBOR + 2.52 | 1,335 | ||||||||||||||||||||||||||
| Customer interest rate swaps | 78,914 | 8.1 | 5.41 | % | 1 Mo. SOFR + 1.88 | 2,312 | ||||||||||||||||||||||||||
| Classified in Other Liabilities: | ||||||||||||||||||||||||||||||||
| Customer interest rate swaps | $ | 887,187 | 7.3 | 3.66 | % | 1 Mo. SOFR + 2.00 | $ | (77,078) | ||||||||||||||||||||||||
| Customer interest rate swaps | 48,237 | 1.2 | 3.40 | % | 1 Mo. LIBOR + 2.52 | (1,335) | ||||||||||||||||||||||||||
| Third Party interest rate swaps | 78,914 | 8.1 | 5.41 | % | 1 Mo. SOFR + 1.88 | (2,312) | ||||||||||||||||||||||||||
| December 31, 2022 | Notional Amount | Average Maturity (Years) | Weighted Average Fixed Rate | Weighted Average Variable Rate | Fair Value | |||||||||||||||||||||||||||
| Classified in Other Assets: | ||||||||||||||||||||||||||||||||
| Third Party interest rate swaps | $ | 918,758 | 7.5 | 3.70 | % | 1 Mo. SOFR + 2.00 | $ | 94,800 | ||||||||||||||||||||||||
| Third Party interest rate swaps | 48,497 | 1.5 | 3.40 | % | 1 Mo. LIBOR + 2.52 | 1,841 | ||||||||||||||||||||||||||
| Customer interest rate swaps | 51,864 | 8.5 | 5.60 | % | 1 Mo. SOFR + 1.95 | 1,207 | ||||||||||||||||||||||||||
| Classified in Other Liabilities: | ||||||||||||||||||||||||||||||||
| Customer interest rate swaps | $ | 918,758 | 7.5 | 3.70 | % | 1 Mo. SOFR + 2.00 | (94,800) | |||||||||||||||||||||||||
| Customer interest rate swaps | 48,497 | 1.5 | 3.40 | % | 1 Mo. LIBOR + 2.52 | (1,841) | ||||||||||||||||||||||||||
| Third party interest rate swaps | 51,864 | 8.5 | 5.60 | % | 1 Mo. SOFR + 1.95 | (1,207) | ||||||||||||||||||||||||||
| March 31, 2023 | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total Fair Value | |||||||||||||||||||
| (in thousands) | |||||||||||||||||||||||
| Assets: | |||||||||||||||||||||||
| Investment securities, available for sale | |||||||||||||||||||||||
| U.S. Treasury and government agencies | $ | 155,661 | $ | 192,758 | $ | — | $ | 348,419 | |||||||||||||||
| Mortgage-backed securities, residential | — | 308,183 | — | 308,183 | |||||||||||||||||||
| Collateralized mortgage obligations, residential | — | 151,718 | — | 151,718 | |||||||||||||||||||
| Mortgage-backed securities, multifamily | — | 788 | — | 788 | |||||||||||||||||||
| Collateralized mortgage obligations, multifamily | — | 46,422 | — | 46,422 | |||||||||||||||||||
| Asset-backed securities | — | 49,249 | — | 49,249 | |||||||||||||||||||
| Obligations of states and political subdivisions | — | 21,290 | — | 21,290 | |||||||||||||||||||
| Corporate bonds | — | 103,058 | — | 103,058 | |||||||||||||||||||
| Total investment securities, available for sale | 155,661 | 873,466 | — | 1,029,127 | |||||||||||||||||||
| Equity securities | — | 17,496 | — | 17,496 | |||||||||||||||||||
| Derivative assets | — | 80,725 | — | 80,725 | |||||||||||||||||||
| Total Assets | $ | 155,661 | $ | 971,687 | $ | — | $ | 1,127,348 | |||||||||||||||
| Liabilities: | |||||||||||||||||||||||
| Derivative liabilities | $ | — | $ | 80,725 | $ | — | $ | 80,725 | |||||||||||||||
| Total Liabilities | $ | — | $ | 80,725 | $ | — | $ | 80,725 | |||||||||||||||
| December 31, 2022 | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total Fair Value | |||||||||||||||||||
| (in thousands) | |||||||||||||||||||||||
| Assets: | |||||||||||||||||||||||
| Investment securities, available for sale | |||||||||||||||||||||||
| U.S. Treasury and government agencies | $ | 162,438 | $ | 193,201 | $ | — | $ | 355,639 | |||||||||||||||
| Mortgage-backed securities, residential | — | 310,613 | — | 310,613 | |||||||||||||||||||
| Collateralized mortgage obligations, residential | — | 154,058 | — | 154,058 | |||||||||||||||||||
| Mortgage-backed securities, multifamily | — | 785 | — | 785 | |||||||||||||||||||
| Collateralized mortgage obligations, multifamily | — | 46,333 | — | 46,333 | |||||||||||||||||||
| Asset-backed securities | — | 52,395 | — | 52,395 | |||||||||||||||||||
| Obligations of states and political subdivisions | — | 21,122 | — | 21,122 | |||||||||||||||||||
| Corporate bonds | — | 113,367 | — | 113,367 | |||||||||||||||||||
| Total investment securities, available for sale | 162,438 | 891,874 | — | 1,054,312 | |||||||||||||||||||
| Equity securities | — | 17,283 | — | 17,283 | |||||||||||||||||||
| Derivative assets | — | 97,848 | — | 97,848 | |||||||||||||||||||
| Total Assets | $ | 162,438 | $ | 1,007,005 | $ | — | $ | 1,169,443 | |||||||||||||||
| Liabilities: | |||||||||||||||||||||||
| Derivative liabilities | $ | — | $ | 97,848 | $ | — | $ | 97,848 | |||||||||||||||
| Total Liabilities | $ | — | $ | 97,848 | $ | — | $ | 97,848 | |||||||||||||||
| (in thousands) | (Level 1) | (Level 2) | (Level 3) | Total Fair Value | |||||||||||||||||||
| March 31, 2023 | |||||||||||||||||||||||
| Assets: | |||||||||||||||||||||||
| Individually evaluated loans | $ | — | $ | — | $ | 2,484 | $ | 2,484 | |||||||||||||||
| December 31, 2022 | |||||||||||||||||||||||
| Assets: | |||||||||||||||||||||||
| Individually evaluated loans | $ | — | $ | — | $ | 4,489 | $ | 4,489 | |||||||||||||||
| March 31, 2023 | Carrying Value | Fair Value | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | ||||||||||||||||||||||||
| (in thousands) | |||||||||||||||||||||||||||||
| Financial Assets: | |||||||||||||||||||||||||||||
| Investment securities, held to maturity | |||||||||||||||||||||||||||||
| U.S. government agencies | $ | 10,968 | $ | 10,356 | $ | — | $ | 10,356 | $ | — | |||||||||||||||||||
| Mortgage-backed securities, residential | 354,514 | 301,794 | — | 301,794 | — | ||||||||||||||||||||||||
| Collateralized mortgage obligations, residential | 12,813 | 10,488 | — | 10,488 | — | ||||||||||||||||||||||||
| Mortgage-backed securities, multifamily | 5,071 | 4,406 | — | 4,406 | — | ||||||||||||||||||||||||
| Obligations of states and political subdivisions | 516,244 | 433,206 | — | 433,206 | — | ||||||||||||||||||||||||
| Corporate bonds | 2,888 | 2,470 | — | 2,470 | — | ||||||||||||||||||||||||
| Total investment securities, held to maturity | $ | 902,498 | $ | 762,720 | $ | — | $ | 762,720 | $ | — | |||||||||||||||||||
| Federal Home Loan Bank and other membership bank stocks | 45,806 | 45,806 | — | 45,806 | — | ||||||||||||||||||||||||
| Loans, net | 7,881,150 | 7,544,311 | — | — | 7,544,311 | ||||||||||||||||||||||||
| Financial Liabilities: | |||||||||||||||||||||||||||||
| Certificates of deposit | 1,620,312 | 1,593,446 | — | 1,593,446 | — | ||||||||||||||||||||||||
| Other borrowings | 25,000 | 23,291 | — | 23,291 | — | ||||||||||||||||||||||||
| Subordinated debentures | 194,376 | 147,970 | — | — | 147,970 | ||||||||||||||||||||||||
| December 31, 2021 | Carrying Value | Fair Value | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | ||||||||||||||||||||||||
| (in thousands) | |||||||||||||||||||||||||||||
| Financial Assets: | |||||||||||||||||||||||||||||
| Investment securities, held to maturity | |||||||||||||||||||||||||||||
| U.S. government agencies | $ | 11,099 | $ | 10,385 | $ | — | $ | 10,385 | $ | — | |||||||||||||||||||
| Mortgage-backed securities, residential | 360,683 | 302,612 | — | 302,612 | — | ||||||||||||||||||||||||
| Collateralized mortgage obligations, residential | 13,026 | 10,456 | — | 10,456 | — | ||||||||||||||||||||||||
| Mortgage-backed securities, multifamily | 5,094 | 4,347 | — | 4,347 | — | ||||||||||||||||||||||||
| Obligations of states and political subdivisions | 530,506 | 430,108 | — | 428,635 | 1,473 | ||||||||||||||||||||||||
| Corporate bonds | 2,900 | 2,547 | — | 2,547 | — | ||||||||||||||||||||||||
| Total investment securities, held to maturity | 923,308 | 760,455 | — | 758,982 | 1,473 | ||||||||||||||||||||||||
| Federal Home Loan Bank and other membership bank stocks | 42,483 | 42,483 | — | 42,483 | — | ||||||||||||||||||||||||
| Loans, net | 7,795,786 | 7,561,997 | — | — | 7,561,997 | ||||||||||||||||||||||||
| Financial Liabilities: | |||||||||||||||||||||||||||||
| Certificates of deposit | 1,208,177 | 1,174,230 | — | 1,174,230 | — | ||||||||||||||||||||||||
| Other borrowings | 25,000 | 23,001 | — | 23,001 | — | ||||||||||||||||||||||||
| Subordinated debentures | 194,264 | 160,933 | — | — | 160,933 | ||||||||||||||||||||||||
| For the Three Months Ended March 31, 2023 | For the Three Months Ended March 31, 2022 | ||||||||||||||||||||||||||||||||||
| (dollars in thousands) | Average Balance | Interest Income/ Expense | Average Rates Earned/ Paid | Average Balance | Interest Income/ Expense | Average Rates Earned/ Paid | |||||||||||||||||||||||||||||
| ASSETS | |||||||||||||||||||||||||||||||||||
Interest-earning assets: | |||||||||||||||||||||||||||||||||||
| Loans (1) | $ | 7,900,426 | $ | 100,481 | 5.10 | % | $ | 7,021,462 | $ | 67,809 | 3.92 | % | |||||||||||||||||||||||
| Taxable investment securities and other | 1,771,565 | 11,554 | 2.61 | % | 1,674,562 | 6,709 | 1.60 | % | |||||||||||||||||||||||||||
| Tax-exempt securities | 345,511 | 2,078 | 2.41 | % | 345,016 | 1,648 | 1.91 | % | |||||||||||||||||||||||||||
| Federal funds sold (2) | 73,839 | 728 | 4.00 | % | 463,247 | 182 | 0.16 | % | |||||||||||||||||||||||||||
Total interest-earning assets | 10,091,341 | 114,841 | 4.56 | % | 9,504,287 | 76,348 | 3.25 | % | |||||||||||||||||||||||||||
Noninterest-earning assets: | |||||||||||||||||||||||||||||||||||
| Allowance for credit losses | (71,292) | (70,032) | |||||||||||||||||||||||||||||||||
Other assets | 678,758 | 704,182 | |||||||||||||||||||||||||||||||||
TOTAL ASSETS | $ | 10,698,807 | $ | 10,138,437 | |||||||||||||||||||||||||||||||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | |||||||||||||||||||||||||||||||||||
Interest-bearing liabilities: | |||||||||||||||||||||||||||||||||||
| Savings accounts | $ | 928,796 | $ | 652 | 0.28 | % | $ | 1,131,359 | $ | 484 | 0.17 | % | |||||||||||||||||||||||
| Interest-bearing transaction accounts | 4,224,024 | 19,259 | 1.85 | % | 4,399,531 | 2,665 | 0.25 | % | |||||||||||||||||||||||||||
| Time deposits | 1,385,661 | 9,247 | 2.71 | % | 879,427 | 890 | 0.40 | % | |||||||||||||||||||||||||||
| Federal funds purchased | 589,056 | 7,101 | 4.82 | % | — | — | — | % | |||||||||||||||||||||||||||
| Securities sold under agreements to repurchase | 28,555 | 121 | 1.70 | % | 104,633 | 20 | 0.08 | % | |||||||||||||||||||||||||||
| Long-term borrowings | 219,308 | 2,100 | 3.83 | % | 217,983 | 1,555 | 2.85 | % | |||||||||||||||||||||||||||
Total interest-bearing liabilities | 7,375,400 | 38,480 | 2.11 | % | 6,732,933 | 5,614 | 0.34 | % | |||||||||||||||||||||||||||
Noninterest-bearing liabilities: | |||||||||||||||||||||||||||||||||||
| Demand deposits | 2,040,070 | 2,194,038 | |||||||||||||||||||||||||||||||||
| Other liabilities | 162,981 | 115,553 | |||||||||||||||||||||||||||||||||
| Stockholders' equity | 1,120,356 | 1,095,913 | |||||||||||||||||||||||||||||||||
| TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ | 10,698,807 | $ | 10,138,437 | |||||||||||||||||||||||||||||||
Net interest income/spread | 76,361 | 2.45 | % | 70,734 | 2.92 | % | |||||||||||||||||||||||||||||
Tax equivalent basis adjustment | 436 | 346 | |||||||||||||||||||||||||||||||||
| NET INTEREST INCOME | $ | 75,925 | $ | 70,388 | |||||||||||||||||||||||||||||||
| Net interest margin (3) | 3.07 | % | 3.02 | % | |||||||||||||||||||||||||||||||
| Three Months Ended March 31, | |||||||||||
| (dollars in thousands) | 2023 | 2022 | |||||||||
| Total noninterest expense | $ | 48,605 | $ | 49,959 | |||||||
| Less: | |||||||||||
| Amortization of core deposit intangibles | 516 | 596 | |||||||||
| Merger-related expenses | 295 | 4,585 | |||||||||
| Noninterest expense, as adjusted | $ | 47,794 | $ | 44,778 | |||||||
| Net interest income | $ | 75,925 | $ | 70,388 | |||||||
| Noninterest income | 6,265 | 6,780 | |||||||||
| Total revenue | 82,190 | 77,168 | |||||||||
| Tax-equivalent adjustment on municipal securities | 436 | 346 | |||||||||
| Less: | |||||||||||
| Gains on sales of investment securities | — | — | |||||||||
| Total revenue, as adjusted | $ | 82,626 | $ | 77,514 | |||||||
| Efficiency ratio | 57.84 | % | 57.77 | % | |||||||
As of and for the Three Months Ended March 31, | As of and for the Year Ended | |||||||||||||||||||
| (dollars in thousands) | 2023 | 2022 | December 31, 2022 | |||||||||||||||||
| Allowance for credit losses on loans to total loans outstanding | 0.90 | % | 0.94 | % | 0.89 | % | ||||||||||||||
| Allowance for credit losses on loans | $ | 71,403 | $ | 67,112 | $ | 70,264 | ||||||||||||||
| Total loans outstanding | 7,952,553 | 7,137,793 | 7,866,050 | |||||||||||||||||
| Non-accrual loans to total loans outstanding | 0.21 | % | 0.28 | % | 0.22 | % | ||||||||||||||
| Non-accrual loans | $ | 16,878 | $ | 19,740 | $ | 17,362 | ||||||||||||||
| Total loans outstanding | 7,952,553 | 7,137,793 | 7,866,050 | |||||||||||||||||
| Allowance for credit losses on loans to non-accrual loans | 423.05 | % | 339.98 | % | 404.70 | % | ||||||||||||||
| Allowance for credit losses on loans | $ | 71,403 | $ | 67,112 | $ | 70,264 | ||||||||||||||
| Non-accrual loans | 16,878 | 19,740 | 17,362 | |||||||||||||||||
| (in thousands) | Total | Within One Year | After One But Within Three Years | After Three But Within Five Years | After Five Years | ||||||||||||||||||||||||
Minimum annual rentals on noncancellable operating leases | $ | 23,738 | $ | 3,649 | $ | 7,914 | $ | 4,926 | $ | 7,249 | |||||||||||||||||||
| Benefit plan commitments | 4,026 | 395 | 745 | 745 | 2,141 | ||||||||||||||||||||||||
Remaining contractual maturities of time deposits | 1,620,312 | 1,175,449 | 435,237 | 9,626 | — | ||||||||||||||||||||||||
| Subordinated debentures | 194,376 | — | — | — | 194,376 | ||||||||||||||||||||||||
| Loan commitments | 1,643,138 | 1,172,632 | 190,399 | 47,697 | 232,410 | ||||||||||||||||||||||||
| Other borrowings | 25,000 | — | 25,000 | — | — | ||||||||||||||||||||||||
| Interest on other borrowings (1) | 80,285 | 8,153 | 16,048 | 15,899 | 40,185 | ||||||||||||||||||||||||
| Standby letters of credit | 32,702 | 29,681 | 1,666 | 1,355 | — | ||||||||||||||||||||||||
| Total | $ | 3,623,577 | $ | 2,389,959 | $ | 677,009 | $ | 80,248 | $ | 476,361 | |||||||||||||||||||
| Tier 1 Capital to Total Average Assets Ratio | Common Equity Tier 1 to Risk-Weighted Assets Ratio | Tier 1 Capital to Risk- Weighted Assets Ratio | Total Capital to Risk- Weighted Assets Ratio | ||||||||||||||||||||||||||||||||||||||||||||
| March 31, 2023 | December 31, 2022 | March 31, 2023 | December 31, 2022 | March 31, 2023 | December 31, 2022 | March 31, 2023 | December 31, 2022 | ||||||||||||||||||||||||||||||||||||||||
| The Company | 9.13 | % | 9.16 | % | 10.81 | % | 10.71 | % | 11.33 | % | 11.24 | % | 13.93 | % | 13.83 | % | |||||||||||||||||||||||||||||||
| Lakeland Bank | 9.95 | % | 10.03 | % | 12.36 | % | 12.31 | % | 12.36 | % | 12.31 | % | 13.21 | % | 13.15 | % | |||||||||||||||||||||||||||||||
| Required capital ratios including conservation buffer | 4.00 | % | 4.00 | % | 7.00 | % | 7.00 | % | 8.50 | % | 8.50 | % | 10.50 | % | 10.50 | % | |||||||||||||||||||||||||||||||
| “Well capitalized” institution under FDIC Regulations | 5.00 | % | 5.00% | 6.50 | % | 6.50% | 8.00 | % | 8.00% | 10.00 | % | 10.00% | |||||||||||||||||||||||||||||||||||
| (dollars in thousands, except share and per share amounts) | March 31, 2023 | December 31, 2022 | |||||||||
| Calculation of Tangible Book Value per Common Share | |||||||||||
| Total common stockholders’ equity at end of period - GAAP | $ | 1,126,580 | $ | 1,108,587 | |||||||
| Less: | |||||||||||
| Goodwill | 271,829 | 271,829 | |||||||||
| Other identifiable intangible assets, net | 8,572 | 9,088 | |||||||||
| Total tangible common stockholders’ equity at end of period - Non-GAAP | $ | 846,179 | $ | 827,670 | |||||||
| Shares outstanding at end of period | 65,017 | 64,872 | |||||||||
| Book value per share - GAAP | $ | 17.33 | $ | 17.09 | |||||||
| Tangible book value per share - Non-GAAP | $ | 13.01 | $ | 12.76 | |||||||
| Calculation of Tangible Common Equity to Tangible Assets | |||||||||||
| Total tangible common stockholders’ equity at end of period - Non-GAAP | $ | 846,179 | $ | 827,670 | |||||||
| Total assets at end of period | $ | 10,837,241 | $ | 10,783,840 | |||||||
| Less: | |||||||||||
| Goodwill | 271,829 | 271,829 | |||||||||
| Other identifiable intangible assets, net | 8,572 | 9,088 | |||||||||
| Total tangible assets at end of period - Non-GAAP | $ | 10,556,840 | $ | 10,502,923 | |||||||
| Common equity to assets - GAAP | 10.40 | % | 10.28 | % | |||||||
| Tangible common equity to tangible assets - Non-GAAP | 8.02 | % | 7.88 | % | |||||||
| For the Three Months Ended March 31, | ||||||||||||||
| (dollars in thousands) | 2023 | 2022 | ||||||||||||
Calculation of Return on Average Tangible Common Equity | ||||||||||||||
| Net income - GAAP | $ | 19,805 | $ | 15,929 | ||||||||||
Total average common stockholders’ equity | $ | 1,120,356 | $ | 1,095,913 | ||||||||||
| Less: | ||||||||||||||
| Average goodwill | 271,829 | 265,409 | ||||||||||||
Average other identifiable intangible assets, net | 8,904 | 10,851 | ||||||||||||
Total average tangible common stockholders’ equity - Non-GAAP | $ | 839,623 | $ | 819,653 | ||||||||||
Return on average common stockholders’ equity - GAAP | 7.17 | % | 5.89 | % | ||||||||||
Return on average tangible common stockholders’ equity - Non-GAAP | 9.57 | % | 7.88 | % | ||||||||||
| For the Three Months Ended March 31 | |||||||||||||||||
| (Dollars in thousands, except per share amounts) | 2023 | 2022 | |||||||||||||||
| Calculation of EPS excluding non-routine transactions | |||||||||||||||||
| Net income - GAAP | $ | 19,805 | $ | 15,929 | |||||||||||||
| Non-Routine Transactions: | |||||||||||||||||
| Charge-off of investment security, net of tax | 4,642 | — | |||||||||||||||
| Tax deductible merger-related expenses | 5 | 3,435 | |||||||||||||||
| Tax effect on tax deductible merger-related expenses | (1) | (1,033) | |||||||||||||||
| Non-tax deductible merger-related expenses | 290 | 1,149 | |||||||||||||||
| Effect of non-routine transactions, net of tax | $ | 4,936 | $ | 3,551 | |||||||||||||
| Net income available to common shareholders excluding non-routine transactions | $ | 24,741 | $ | 19,480 | |||||||||||||
| Less: Earnings allocated to participating securities | 196 | 164 | |||||||||||||||
| Net Income, excluding non-routine transactions | $ | 24,545 | $ | 19,316 | |||||||||||||
| Weighted average shares - Basic | 64,966 | 63,961 | |||||||||||||||
| Weighted average shares - Diluted | 65,228 | 64,238 | |||||||||||||||
| Basic earnings per share - GAAP | $ | 0.30 | $ | 0.25 | |||||||||||||
| Diluted earnings per share - GAAP | $ | 0.30 | $ | 0.25 | |||||||||||||
| Basic earnings per share, adjusted for non-routine transactions | $ | 0.38 | $ | 0.30 | |||||||||||||
| Diluted earnings per share, adjusted for non-routine transactions | $ | 0.38 | $ | 0.30 | |||||||||||||
| Calculation of return on average assets excluding non-routine transactions | |||||||||||||||||
| Net Income, excluding non-routine transactions | $ | 24,741 | $ | 19,480 | |||||||||||||
| Average assets | 10,698,807 | 10,138,437 | |||||||||||||||
| Return on average assets - GAAP | 0.75 | % | 0.64 | % | |||||||||||||
| Return on average assets, adjusted for non-routine transactions | 0.94 | % | 0.78 | % | |||||||||||||
| Changes in Interest Rates | ||||||||||||||
| Rate Ramp | +200 bp | -200 bp | ||||||||||||
| Asset/Liability Policy limit | (5.0) | % | (5.0) | % | ||||||||||
| March 31, 2023 | (2.5) | % | 1.7 | % | ||||||||||
| December 31, 2022 | (2.0) | % | 1.1 | % | ||||||||||
| Changes in Interest Rates | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Rate Shock | +400 bp | +300 bp | +200 bp | +100 bp | -100 bp | -200 bp | -300 bp | -400 bp | ||||||||||||||||||||||||||||||||||||||||||||||||
| Asset/Liability Policy limit | (25.0) | % | (20.0) | % | (15.0) | % | (10.0) | % | (10.0) | % | (15.0) | % | (20.0) | % | (25.0) | % | ||||||||||||||||||||||||||||||||||||||||
| March 31, 2023 | (9.2) | % | (7.1) | % | (4.9) | % | (2.2) | % | 1.5 | % | 2.0 | % | 1.1 | % | 0.7 | % | ||||||||||||||||||||||||||||||||||||||||
| December 31, 2022 | (7.1) | % | (5.4) | % | (3.8) | % | (1.6) | % | 0.7 | % | 0.4 | % | (1.0) | % | (1.7) | % | ||||||||||||||||||||||||||||||||||||||||
| Changes in Interest Rates | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Rate Shock | +400 bp | +300 bp | +200 bp | +100 bp | -100 bp | -200 bp | -300 bp | -400 bp | ||||||||||||||||||||||||||||||||||||||||||
| Asset/Liability Policy limit | (35.0) | % | (25.0) | % | (20.0) | % | (10.0) | % | (10.0) | % | (20.0) | % | (25.0) | % | (35.0) | % | ||||||||||||||||||||||||||||||||||
| March 31, 2023 | (16.1) | % | (12.2) | % | (8.1) | % | (3.6) | % | 2.4 | % | 3.2 | % | 1.3 | % | (6.0) | % | ||||||||||||||||||||||||||||||||||
| December 31, 2022 | (13.8) | % | (10.3) | % | (6.6) | % | (2.9) | % | 1.9 | % | 1.9 | % | (0.5) | % | (6.0) | % | ||||||||||||||||||||||||||||||||||
| Item 2. Unregistered Sales of Equity Securities and Use of Proceeds | |||||
| Period | Total Number of Shares (or Units) Purchased (1) | Weighted Average Price Paid per Share (or Unit) | Total Number of Shares (or Units) Purchased as Part of Publicly Announced Plans or Programs | Maximum Number of Shares (or Units) that May Yet Be Purchased Under the Plans or Programs | ||||||||||||||||||||||
| Number of shares at December 31, 2022 | 2,393,423 | |||||||||||||||||||||||||
| January 1 to January 31, 2023 | — | $ | — | — | 2,393,423 | |||||||||||||||||||||
| February 1 to February 28, 2023 | — | — | — | 2,393,423 | ||||||||||||||||||||||
| March 1 to March 31, 2023 | — | — | — | 2,393,423 | ||||||||||||||||||||||
| Item 3. Defaults Upon Senior Securities | Not Applicable | ||||
| Item 4. Mine Safety Disclosures | Not Applicable | ||||
| Item 5. Other Information | Not applicable | ||||
| 2.1 | |||||
| 3.1 | |||||
| 3.2 | |||||
| 4.1 | |||||
| 4.2 | |||||
| 4.3 | |||||
| 31.1 | |||||
| 31.2 | |||||
| 32.1 | |||||
| 101.INS | Inline XBRL Instance Document (The instance document does not appear in the interactive data file because its XBRL tags are embedded within the Inline XBRL document) | ||||
| 101.SCH | Inline XBRL Taxonomy Extension Schema Document | ||||
| 101.CAL | Inline XBRL Taxonomy Extension Calculation Linkbase Document | ||||
| 101.DEF | Inline XBRL Taxonomy Extension Definition Linkbase Document | ||||
| 101.LAB | Inline XBRL Taxonomy Extension Label Linkbase Document | ||||
| 101.PRE | Inline XBRL Taxonomy Extension Presentation Linkbase Document | ||||
| 104 | Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibits 101) | ||||
| Lakeland Bancorp, Inc. | ||
| (Registrant) | ||
| /s/ Thomas J. Shara | ||
| Thomas J. Shara | ||
| President and Chief Executive Officer | ||
| (Principal Executive Officer) | ||
| /s/ Thomas F. Splaine | ||
| Thomas F. Splaine | ||
| Executive Vice President and Chief Financial Officer | ||
| (Principal Financial Officer) | ||
1 Year Lakeland Bancorp Chart |
1 Month Lakeland Bancorp Chart |
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