Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Mar. 10, 2017 | Jun. 30, 2016 | |
Document Information [Line Items] | |||
Entity Registrant Name | FNCB BANCORP, INC. | ||
Entity Central Index Key | 1,035,976 | ||
Trading Symbol | fncb | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Accelerated Filer | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Common Stock, Shares Outstanding (in shares) | 16,661,978 | ||
Entity Public Float | $ 80,096,019 | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2016 | ||
Document Fiscal Year Focus | 2,016 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false |
Consolidated Statements of Fina
Consolidated Statements of Financial Condition - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Assets | ||
Cash and due from banks | $ 20,562 | $ 19,544 |
Interest-bearing deposits in other banks | 91,883 | 1,539 |
Total cash and cash equivalents | 112,445 | 21,083 |
Securities available for sale, at fair value | 272,676 | 253,773 |
Stock in Federal Home Loan Bank of Pittsburgh, at cost | 3,311 | 6,344 |
Loans held for sale | 596 | 683 |
Loans, net of allowance for loan and lease losses of $8,419 and $8,790 | 725,860 | 724,926 |
Bank premises and equipment, net | 10,784 | 11,193 |
Accrued interest receivable | 2,757 | 2,475 |
Bank-owned life insurance | 29,933 | 29,381 |
Other real estate owned | 2,048 | 3,154 |
Net deferred tax assets | 26,990 | 27,807 |
Other assets | 7,975 | 9,799 |
Total assets | 1,195,375 | 1,090,618 |
Liabilities | ||
Demand (non-interest-bearing) | 173,702 | 154,531 |
Interest-bearing | 841,437 | 667,015 |
Total deposits | 1,015,139 | 821,546 |
Borrowed funds: | ||
Federal Home Loan Bank of Pittsburgh advances | 58,537 | 135,802 |
Subordinated debentures | 10,000 | 14,000 |
Junior subordinated debentures | 10,310 | 10,310 |
Total borrowed funds | 78,847 | 160,112 |
Accrued interest payable | 242 | 11,165 |
Other liabilities | 11,000 | 11,617 |
Total liabilities | 1,105,228 | 1,004,440 |
Shareholders' equity | ||
Preferred shares | ||
Common shares | 20,807 | 20,643 |
Additional paid-in capital | 62,593 | 62,059 |
Retained earnings | 8,531 | 3,714 |
Accumulated other comprehensive loss | (1,784) | (238) |
Total shareholders' equity | 90,147 | 86,178 |
Total liabilities and shareholders’ equity | $ 1,195,375 | $ 1,090,618 |
Consolidated Statements of Fin3
Consolidated Statements of Financial Condition (Parentheticals) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Loans, allowance for loan and lease losses | $ 8,419 | $ 8,790 |
Preferred shares, par value (in dollars per share) | $ 1.25 | $ 1.25 |
Preferred shares, authorized (in shares) | 20,000,000 | 20,000,000 |
Preferred shares, issued (in shares) | 0 | 0 |
Preferred shares, outstanding (in shares) | 0 | 0 |
Common shares, par value (in dollars per share) | $ 1.25 | $ 1.25 |
Common shares, authorized (in shares) | 50,000,000 | 50,000,000 |
Common shares, issued (in shares) | 16,645,845 | 16,514,245 |
Common shares, outstanding (in shares) | 16,645,845 | 16,514,245 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Interest income | |||
Interest and fees on loans | $ 28,223 | $ 26,672 | $ 26,629 |
Interest and dividends on securities: | |||
U.S. government agencies | 3,557 | 4,036 | 3,494 |
State and political subdivisions, tax-free | 46 | 109 | 1,883 |
State and political subdivisions, taxable | 2,574 | 905 | 324 |
Other securities | 315 | 433 | 272 |
Total interest and dividends on securities | 6,492 | 5,483 | 5,973 |
Interest on interest-bearing deposits in other banks | 33 | 46 | 71 |
Total interest income | 34,748 | 32,201 | 32,673 |
Interest expense | |||
Interest on deposits | 2,730 | 2,631 | 3,180 |
Interest on borrowed funds: | |||
Interest on Federal Home Loan Bank of Pittsburgh advances | 595 | 514 | 450 |
Interest on subordinated debentures | 625 | 1,450 | 2,281 |
Interest on junior subordinated debentures | 247 | 206 | 236 |
Total interest on borrowed funds | 1,467 | 2,170 | 2,967 |
Total interest expense | 4,197 | 4,801 | 6,147 |
Net interest income before provision (credit) for loan and lease losses | 30,551 | 27,400 | 26,526 |
Provision (credit) for loan and lease losses | 1,153 | (1,345) | (5,869) |
Net interest income after provision (credit) for loan and lease losses | 29,398 | 28,745 | 32,395 |
Non-interest income | |||
Deposit service charges | 2,892 | 2,960 | 2,975 |
Net gain on the sale of securities | 960 | 2,296 | 6,640 |
Net gain on the sale of mortgage loans held for sale | 340 | 292 | 292 |
Net gain on the sale of SBA guaranteed loans | 51 | ||
Net loss on the sale of education loans | (13) | ||
Net gain on the sale of other real estate owned | 49 | 162 | 209 |
Gain on branch divestitures | 607 | ||
Loan-related fees | 439 | 442 | 440 |
Income from bank-owned life insurance | 552 | 564 | 650 |
Legal settlements | 184 | 2,127 | |
Other | 920 | 900 | 993 |
Total non-interest income | 6,203 | 7,800 | 14,920 |
Non-interest expense | |||
Salaries and employee benefits | 14,320 | 13,810 | 13,111 |
Occupancy expense | 1,777 | 2,284 | 2,088 |
Equipment expense | 1,732 | 1,657 | 1,471 |
Advertising expense | 554 | 483 | 470 |
Data processing expense | 1,997 | 1,976 | 2,088 |
Regulatory assessments | 729 | 950 | 1,801 |
Bank shares tax | 836 | 705 | 522 |
Expense of other real estate owned | 409 | 400 | 2,569 |
Legal expense | 362 | 437 | 1,799 |
Professional fees | 961 | 1,014 | 1,567 |
Insurance expenses | 516 | 659 | 951 |
Legal settlements | 777 | ||
Other losses | 277 | 281 | 2,279 |
Other operating expenses | 3,075 | 3,031 | 2,853 |
Total non-interest expense | 27,545 | 28,464 | 33,569 |
Income before income taxes | 8,056 | 8,081 | 13,746 |
Income tax expense (benefit) | 1,747 | (27,759) | 326 |
Net income | $ 6,309 | $ 35,840 | $ 13,420 |
Earnings per share | |||
Basic (in dollars per share) | $ 0.38 | $ 2.17 | $ 0.81 |
Diluted (in dollars per share) | 0.38 | 2.17 | 0.81 |
Cash dividends declared, per share (in dollars per share) | $ 0.09 | ||
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: | |||
Basic (in shares) | 16,571,262 | 16,499,622 | 16,472,660 |
Diluted (in shares) | 16,572,695 | 16,499,622 | 16,472,871 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Net income | $ 6,309 | $ 35,840 | $ 13,420 |
Other comprehensive (loss) income: | |||
Unrealized (losses) gains on securities available for sale | (1,382) | 211 | 12,682 |
Tax expense (benefit) | 470 | (72) | (4,312) |
Net of tax amount | (912) | 139 | 8,370 |
Reclassification adjustment for gains included in net income | (960) | (2,296) | (6,272) |
Tax expense | 326 | 781 | 2,132 |
Net of tax amount | (634) | (1,515) | (4,140) |
Total other comprehensive (loss) income | (1,546) | (1,376) | 4,230 |
Comprehensive income | $ 4,763 | $ 34,464 | $ 17,650 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balances (in shares) at Dec. 31, 2013 | 16,471,569 | ||||
Balances at Dec. 31, 2013 | $ 20,589 | $ 61,627 | $ (45,546) | $ (3,092) | $ 33,578 |
Net income for the year | 13,420 | 13,420 | |||
Stock-based compensation (in shares) | 12,850 | ||||
Stock-based compensation | $ 16 | 61 | 77 | ||
Restricted stock awards | 93 | 93 | |||
Other comprehensive income (loss), net of tax | 4,230 | 4,230 | |||
Balances (in shares) at Dec. 31, 2014 | 16,484,419 | ||||
Balances at Dec. 31, 2014 | $ 20,605 | 61,781 | (32,126) | 1,138 | 51,398 |
Net income for the year | 35,840 | 35,840 | |||
Stock-based compensation (in shares) | 13,300 | ||||
Stock-based compensation | $ 17 | 52 | 69 | ||
Restricted stock awards | 247 | 247 | |||
Other comprehensive income (loss), net of tax | (1,376) | (1,376) | |||
Balances (in shares) at Dec. 31, 2015 | 16,514,245 | ||||
Balances at Dec. 31, 2015 | $ 20,643 | 62,059 | 3,714 | (238) | 86,178 |
Common shares issued under long-term incentive compensation plan (in shares) | 16,526 | ||||
Common shares issued under long-term incentive compensation plan | $ 21 | (21) | |||
Net income for the year | 6,309 | 6,309 | |||
Restricted stock awards | 265 | 265 | |||
Other comprehensive income (loss), net of tax | (1,546) | (1,546) | |||
Balances (in shares) at Dec. 31, 2016 | 16,645,845 | ||||
Balances at Dec. 31, 2016 | $ 20,807 | 62,593 | 8,531 | $ (1,784) | 90,147 |
Common shares issued under long-term incentive compensation plan (in shares) | 52,848 | ||||
Common shares issued under long-term incentive compensation plan | $ 66 | (66) | |||
Cash dividends declared, $0.09 per share | $ (1,492) | $ (1,492) | |||
Common shares issued through dividend reinvestment / optional cash purchase plan (in shares) | 78,752 | 78,752 | |||
Common shares issued through dividend reinvestment / optional cash purchase plan | $ 98 | $ 335 | $ 433 |
Consolidated Statements of Cha7
Consolidated Statements of Changes in Shareholders' Equity (Parentheticals) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
AOCI Attributable to Parent [Member] | |||
Other comprehensive income (loss), tax | $ 796 | $ 709 | $ 2,180 |
Retained Earnings [Member] | |||
Cash dividends declared, per share (in dollars per share) | $ 0.09 | ||
Cash dividends declared, per share (in dollars per share) | $ 0.09 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Operating activities: | |||
Net income | $ 6,309 | $ 35,840 | $ 13,420 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Investment securities amortization, net | 1,165 | 1,423 | 1,356 |
Equity in trust | (7) | (6) | (6) |
Depreciation and amortization | 2,604 | 1,703 | 1,470 |
Valuation adjustment for loan servicing rights | 5 | ||
Provision (credit) for loan and lease losses | 1,153 | (1,345) | (5,869) |
Valuation adjustment for off-balance sheet commitments | (51) | (117) | (94) |
Stock-based compensation expense | 265 | 316 | 170 |
Gain on the sale of available-for-sale securities | (960) | (2,296) | (6,272) |
Gain on the sale of held-to-maturity securities | (368) | ||
Gain on the sale of loans held for sale | (340) | (292) | (292) |
Loss on the sale of education loans | 13 | ||
Gain on branch divestitures | (607) | ||
Loss on the disposition of bank premises and equipment and other assets | 232 | ||
Gain on the sale of SBA guaranteed loans | (51) | ||
Net gain on the sale of other real estate owned | (49) | (162) | (209) |
Valuation adjustment for other real estate owned | 169 | 208 | 2,200 |
Income from bank-owned life insurance | (552) | (564) | (650) |
Proceeds from the sale of loans held for sale | 9,817 | 8,210 | 8,555 |
Funds used to originate loans held for sale | (9,390) | (7,998) | (8,046) |
Deferred income tax expense (benefit) | 1,613 | (27,684) | |
(Increase) decrease in accrued interest receivable | (282) | (400) | 116 |
Decrease in prepaid expenses and other assets | 496 | 917 | 169 |
(Decrease) increase in accrued interest payable | (10,923) | 903 | 1,530 |
(Decrease) increase in accrued expenses and other liabilities | (558) | (4,195) | 1,694 |
Total adjustments | (5,876) | (31,379) | (4,908) |
Net cash provided by operating activities | 433 | 4,461 | 8,512 |
Cash flows from investing activities: | |||
Maturities, calls and principal payments of investment securities available for sale | 6,264 | 8,615 | 8,331 |
Proceeds from the sale of securities available for sale | 32,588 | 88,658 | 111,243 |
Proceeds from the sale of securities held to maturity | 2,686 | ||
Purchases of securities available for sale | (60,302) | (133,269) | (123,380) |
Redemption (purchase) of the stock of the Federal Home Loan Bank of Pittsburgh | 3,033 | (3,541) | (657) |
Redemption of Federal Reserve Bank stock | 1,351 | ||
Net increase in loans to customers | (5,656) | (68,665) | (25,321) |
Proceeds from the sale of SBA guaranteed loans | 1,315 | 0 | 0 |
Proceeds from the sale of education loans | 2,537 | ||
Proceeds from the sale of other real estate owned | 1,928 | 758 | 1,737 |
Purchases of bank premises and equipment | (861) | (1,419) | (1,217) |
Proceeds from the sale of bank premises and equipment | 2,505 | ||
Net cash used in investing activities | (20,340) | (108,863) | (21,536) |
Cash flows from financing activities: | |||
Net increase (decrease) in deposits | 193,593 | 26,210 | (88,936) |
Net (repayment of) proceeds from Federal Home Loan Bank of Pittsburgh advances - overnight | (60,500) | 60,500 | |
Proceeds from Federal Home Loan Bank of Pittsburgh advances - term | 46,915 | 151,300 | 194,235 |
Repayment of Federal Home Loan Bank of Pittsburgh advances - term | (63,680) | (137,192) | (160,164) |
Principal reduction on subordinated debentures | (4,000) | (11,000) | |
Proceeds from issuance of common shares | 433 | ||
Cash dividends paid | (1,492) | ||
Net cash provided by (used in) financing activities | 111,269 | 89,818 | (54,865) |
Net increase (decrease) in cash and cash equivalents | 91,362 | (14,584) | (67,889) |
Cash and cash equivalents at beginning of year | 21,083 | 35,667 | 103,556 |
Cash and cash equivalents at end of year | 112,445 | 21,083 | 35,667 |
Supplemental cash flow information | |||
Interest | 15,120 | 3,898 | 4,617 |
Income taxes | 10 | 22 | 308 |
Other transactions: | |||
Principal balance of loans transferred to other real estate owned | 1,210 | 3,697 | 13 |
Government guarantee receivable on loans transferred to other real estate owned or other assets | (1,980) | ||
Change in deferred gain on sale of other real estate owned | (8) | 14 | 26 |
Bank Premises [Member] | |||
Other transactions: | |||
Principal balance of loans transferred to other real estate owned | $ 1,749 |
Note 1 - Organization
Note 1 - Organization | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | Note 1. ORGANIZATION On June 30, 2016, June 30, 2016. October 4, 2016, October 17, 2016, October 17, 2016, FNCB Bancorp, Inc. is a registered bank holding company under the Bank Holding Company Act of 1956 1997. The Bank provides customary banking services to individuals and businesses through its 19 On January 6, 2017, February 22, 2017 FNCB Realty Company, Inc., FNCB Realty Company I, LLC, and FNCB Realty Company II, LLC were formed to hold real estate and/or operate businesses acquired in exchange for debt settlement or foreclosure. In December 2006, 810 10, |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | Note 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The consolidated financial statements of FNCB include the accounts of FNCB Bancorp, Inc., the Bank, and the Bank’s wholly-owned subsidiaries. All inter-company transactions and balances have been eliminated in consolidation. The accounting and reporting policies of FNCB conform to accounting principles generally accepted in the United States of America (“GAAP”), Regulation S-X and general practices within the banking industry. Prior period amounts are reclassified when necessary to conform to the current year’s presentation. Such reclassifications had no effect on FNCB’s financial condition or results of operations. The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ significantly from these estimates. Material estimates that are particularly susceptible to change in the near term are the allowance for loan and lease losses, securities’ valuation and impairment evaluation, the valuation of other real estate owned, and income taxes. Cash Equivalents For purposes of reporting cash flows, cash equivalents include cash on hand and amounts due from banks. Securities FNCB classifies investment securities as either held-to-maturity or available-for-sale at the time of purchase. Investment securities that are classified as held-to-maturity are carried at amortized cost when management has the positive intent and ability to hold them to maturity. Investment securities that are classified as available-for-sale are carried at fair value with unrealized holding gains and losses recognized as a component of shareholders’ equity in accumulated other comprehensive loss, net of tax. Premiums and discounts are amortized or accreted over the life of the related security as an adjustment to yield using the interest method. Realized gains and losses on sales of investment securities are based on amortized cost using the specific identification method on the trade date. On a quarterly basis, management evaluates each of its investment securities classified as held-to-maturity or available-for-sale in an unrealized loss position for other than temporary impairment (“OTTI”). An individual security is considered impaired when its current fair value is less than its amortized cost basis. As part of the OTTI evaluation, management considers the following factors in determining whether the security’s impairment is other than temporary: ● the length of time and extent of the impairment; ● the causes of the decline in fair value, such as credit deterioration, interest rate fluctuations, or market volatility; ● adverse industry or geographic conditions; ● historical implied volatility; ● payment structure of the security and whether FNCB expects to receive all contractual cash flows; ● failure of the issuer to make contractual interest or principal payments in the past; ● changes in the security’s rating; and ● recoveries or additional declines in the security’s fair value subsequent to the balance sheet date. Based on current authoritative guidance, when a held-to-maturity or available-for-sale debt security is assessed for OTTI, management must first one two For equity securities, FNCB evaluates whether or not the unrealized loss is expected to be recovered based on evidence to support a realizable value equal to or greater than the amortized cost basis. If it is probable that the amortized cost basis will not be recovered, taking into consideration the estimated recovery period and ability of FNCB to hold the security until recovery, the entire difference between the security’s cost basis and its fair value is recognized in earnings at the balance sheet date. Investments in the Federal Reserve Bank and Federal Home Loan Bank stock have limited marketability, are carried at cost and are evaluated for impairment based on FNCB’s determination of the ultimate recoverability of the par value of the stock. During the year ended December 31, 2016, $1.3 $1.3 December 31, 2015. Loans and Loan Origination Fees and Costs Loans receivable, other than loans held for sale, are stated at the principal outstanding, net of unamortized loan fees and costs, unearned income, partial charge-offs and the allowance for loan and lease losses. Interest income on all loans is recognized using the effective interest method. Loan origination and commitment fees, as well as certain direct loan origination costs, are deferred and the net amount is amortized as an adjustment of the related loan’s yield. FNCB generally amortizes these amounts over the life of the related loan. Amortization of deferred loan fees or costs is discontinued when a loan is placed on non-accrual status. Loans are placed on non-accrual status when a loan is specifically determined to be impaired or when management believes that the collection of interest or principal is doubtful. This is generally when a default of interest or principal has existed for 90 90 first six In accordance with federal regulations, prior to making, extending, renewing or advancing additional funds in excess of $250 third may Troubled Debt Restructurings FNCB considers a loan to be a troubled debt restructuring (“TDR”) when it grants a concession to the borrower for legal or economic reasons related to the borrower’s financial difficulties that it would not otherwise consider. Such concessions granted generally involve a reduction of the stated interest rate, an extension of a loan’s maturity date, capitalization of real estate taxes, or a permanent reduction of the recorded investment in the loan. A non-accrual TDR is returned to accrual status when principal and interest payments under the modified terms are current, the TDR is performing under the modified terms for six Loan Impairment A loan is considered impaired when it is probable that FNCB will be unable to collect all amounts due (including principal and interest) according to the contractual terms of the note and loan agreement. For purposes of management’s analysis, TDRs, loans rated substandard and on non-accrual status with an aggregate loan relationship greater than $100 may Generally, all loans with balances of $100 $100 Impaired loans, or portions thereof, are charged-off upon determination that all or a portion of the loan balance is uncollectible and exceeds the fair value of the collateral. A loan is considered uncollectible when the borrower is delinquent with respect to principal or interest repayment and it is unlikely that the borrower will have the ability to pay the debt in a timely manner, collateral value is insufficient to cover the outstanding indebtedness and the guarantors (if applicable) do not provide adequate support for the loan. Allowance for Loan and Lease Losses Management evaluates the credit quality of FNCB’s loan portfolio on an ongoing basis, and performs a formal review of the adequacy of the allowance for loan and lease losses (“ALLL”) on a quarterly basis. The ALLL is established through a provision for loan and lease losses charged to earnings and is maintained at a level management considers adequate to absorb estimated probable losses inherent in the loan portfolio as of the evaluation date. Loans, or portions of loans, determined by management to be uncollectible are charged off against the ALLL, while recoveries of amounts previously charged off are credited to the ALLL. Determining the amount of the ALLL is considered a critical accounting estimate because it requires significant judgment and the use of estimates related to the amount and timing of expected future cash flows on impaired loans, estimated losses on pools of homogeneous loans based on historical loss experience, qualitative factors, and consideration of current economic trends and conditions, all of which may may The ALLL consists of two $100 may When establishing the ALLL, management categorizes loans into the following loan segments that are based generally on the nature of the collateral and basis of repayment. The risk characteristics of FNCB’s loan segments are as follows: Construction, L and A cquisition and D evelopment L oans one four 65%. 80% Commercial Real Estate Loans 20 80%. Commercial and Industrial Loans - may State and Political Subdivision Loans Residential Real Estate Loans one four first 80% 80% may Consumer Loans 90% 15 Off-Balance-Sheet Credit-Related Financial Instruments FNCB is a party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing need of its customers. These financial instruments include commitments to extend credit, unused portions of lines of credit, including revolving HELOCs, and letters of credit. FNCB’s exposure to credit loss in the event of nonperformance by the other party to the financial instrument is represented by the contractual notional amount of these instruments. FNCB uses the same credit policies in making these commitments as it does for on-balance sheet instruments. In order to provide for probable losses inherent in these instruments, FNCB records a reserve for unfunded commitments, included in other liabilities on the consolidated statements of financial condition, with the offsetting expense recorded in other operating expenses in the consolidated statements of income. Mortgage Banking Activities and Loan Servicing Mortgage loans originated and intended for sale are carried at the lower of aggregate cost or fair value determined on an individual loan basis. Net unrealized losses are recorded as a valuation allowance and charged to earnings. Gains and losses on sales of mortgage loans are based on the difference between the selling price and the carrying value of the related loan sold and include the value assigned to the rights to service the loan. In addition, during the year ended December 31, 2016, three $1.3 no December 31, 2015 2014. Servicing rights are recorded at fair value upon sale of the loan and reported in other assets on the consolidated statements of financial condition. Servicing rights are amortized in proportion to and over the period during which estimated servicing income will be received. Fair value is based on market prices for comparable servicing contracts, when available, or alternately, is based on a valuation model that calculates the present value of estimated future net servicing income. The valuation model incorporates assumptions that market participants would use in estimating future net servicing income, such as the cost to service, the discount rate, the custodial earnings rate, an inflation rate, ancillary income, prepayment speeds and default rates and losses. Servicing rights are evaluated for impairment at each reporting date based upon the fair value of the rights as compared to amortized cost. Impairment is determined by stratifying rights into tranches based on predominant risk characteristics, such as interest rate, loan type and investor type. Impairment is recognized through a valuation allowance for an individual tranche, to the extent that fair value is less than the capitalized amount for the tranche. If management later determines that all or a portion of the impairment no longer exists for a particular tranche, a reduction of the allowance may Other Real Estate Owned Other real estate owned (“OREO”) consists of property acquired by foreclosure, abandonment or conveyance of deed in-lieu of foreclosure of a loan, and bank premises that are no longer used for operations or for future expansion. OREO is held for sale and is initially recorded at fair value less costs to sell at the date of acquisition or transfer, which establishes a new cost basis. Upon acquisition of a property through foreclosure or deed in-lieu of foreclosure, any write-down to fair value less estimated selling costs is charged to the ALLL. The determination is made on an individual asset basis. Bank premises no longer used for operations or future expansion is transferred to OREO at fair value less estimated selling costs with any related write-down included in non-interest expense. Subsequent to acquisition or transfer, valuations of properties are periodically performed by management and the assets are carried at the lower of cost basis or fair value less estimated cost to sell. Any subsequent reduction in value of an OREO property is recognized by a write-down included in non-interest expense. Fair value is determined through external appraisals, current letters of intent, broker price opinions or executed agreements of sale. Costs relating to the development and improvement of the OREO properties may Bank Premises and Equipment Land is stated at cost. Bank premises, equipment and leasehold improvements are stated at cost less accumulated depreciation. Costs for routine maintenance and repair are expensed as incurred, while significant expenditures for improvements are capitalized. Depreciation expense is computed generally using the straight-line method over the following ranges of estimated useful lives, or in the case of leasehold improvements, to the expected terms of the leases, if shorter: Buildings and improvements (years) 10 to 40 Furniture, fixtures and equipment (years) 3 to 15 Leasehold improvements (years) 2 to 39 Intangible Assets Intangible assets consisted entirely of a core deposit intangible which arose in connection with the acquisition of FNCB’s Honesdale branch. The core deposit intangible was amortized over an estimated useful life of 10 $137 December 31, 2015 December 31, 2016, Long-lived Assets Intangible assets and bank premises and equipment are reviewed by management at least annually for potential impairment and whenever events or circumstances indicate that carrying amounts may Income Taxes FNCB recognizes income taxes under the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more-likely-than-not that all or some portion of the deferred tax assets will not be realized. FNCB files a consolidated Federal income tax return. Under tax sharing agreements, each subsidiary provides for and settles income taxes with FNCB as if it would have filed on a separate return basis. Interest and penalties, if any, as a result of a taxing authority examination are recognized within non-interest expense. FNCB is not currently subject to an audit by any of its tax authorities and with limited exception is no longer subject to federal and state income tax examinations by taxing authorities for years before 2013. When tax returns are filed, it is highly certain that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the position taken or the amount of the position that would be ultimately sustained. The benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more-likely-than-not that the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. Tax positions taken are not offset or aggregated with other positions. Tax positions that meet the more-likely-than-not recognition threshold are measured as the largest amount of tax benefit that is more than 50% December 31, 2016 2015. Earnings per Share Earnings per share is calculated on the basis of the weighted-average number of common shares outstanding during the year. Basic earnings per share excludes dilution and is computed by dividing net income available to common shareholders by the weighted-average common shares outstanding during the period. Diluted earnings per share reflect additional shares that would have been outstanding if dilutive potential common shares had been issued. Potential common shares that may Stock-Based Compensation FNCB is required to measure and record compensation expense for stock-based payments based on the instrument’s fair value on the date of the grant. The fair value of each option grant is estimated on the date of grant using the Black-Scholes option-pricing model. The fair value of shares of restricted stock awarded under the Long Term Incentive Compensation Plan (“LTIP”) is determined using an average of the high and low prices for FNCB’s common stock for the 10 Bank-Owned Life Insurance Bank-owned life insurance (“BOLI”) represents the cash surrender value of life insurance policies on certain current and former directors and officers of FNCB. FNCB purchased the insurance as a tax-deferred investment and future source of funding for liabilities, including the payment of employee benefits such as health care. BOLI is carried in the consolidated statements of financial condition at its cash surrender value. Increases in the cash value of the policies, as well as proceeds received, are recorded in non-interest income. Under some of these policies, the beneficiaries receive a portion of the death benefit. The net present value of the future death benefits scheduled to be paid to the beneficiaries was $105 $101 December 31, 2016 2015, Fair Value Measurement FNCB uses fair value measurements to record fair value adjustments to certain financial assets and liabilities and to determine fair value disclosures. Available-for-sale securities are recorded at fair value on a recurring basis. Additionally, from time to time, FNCB may Fair value is the price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market in an orderly transaction between market participants at the measurement date. An orderly transaction is a transaction that assumes exposure to the market for a period prior to the measurement date to allow for marketing activities that are usual and customary for transactions involving such assets or liabilities: it is not a forced transaction. Accounting standards define fair value, establish a framework for measuring fair value, establish a three The three ● Level 1 ● Level 2 ● Level 3 Comprehensive Income Accounting principles generally require that recognized revenue, expenses, gains and losses be included in net income. Although certain changes in assets and liabilities, such as unrealized gains and losses on available-for-sale securities, are reported as a separate component of the shareholders’ equity section of the statement of financial condition, such items, along with net income, are components of comprehensive income. New Authoritative Accounting Guidanc e ASU 2014 12, 718): 2014 12 December 15, 2015. January 1, 2016 Accounting Guidance to be Adopted in Future Periods ASU 2014 09, 606): 606) 340 40);” 2014 09 2014 09 2014 09 December 15, 2016 August 12, 2015, 2015 14, 606): 2014 09 one January 1, 2018. January 1, 2018. 2014 09. ASU 2016 01, 825 10): 2016 01 December 15, 2017 January 1, 2018 ASU 2016 02, 842): 12 2016 02 2016 02 December 15, 2018 January 1, 2019, may ASU 2016 09, 718): 2016 09 December 15, 2016 January 1, 2017 ASU 2016 13, 326): June 17, 2016, four 2016 13 2016 13, 2016 13 December 15, 2019, may December 15, 2018, January 1, 2020. (1) 2016 13; (2) (3) may (4) may (5) may ASU 2016 15, 230): eight zero 2016 15 December 15, 2017, 2016 15 320, January 1, 2018 |
Note 3 - Restricted Cash Balanc
Note 3 - Restricted Cash Balances | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Cash and Cash Equivalents Disclosure [Text Block] | Note 3. FNCB is required to maintain certain average reserve balances as established by the Federal Reserve Bank. The amount of those reserve balances for the reserve computation periods which included December 31, 2016 2015 $1.5 $1.0 In addition, FNCB maintains compensating balances at correspondent banks, most of which are not required, but are used to offset specific charges for services. At December 31, 2016 2015, $133 $173 |
Note 4 - Securities
Note 4 - Securities | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | Note 4. The following tables present the amortized cost, gross unrealized gains and losses, and the fair value of the FNCB’s securities at December 31, 2016 2015: December 31, 2016 Gross Gross Unrealized Unrealized Amortized Holding Holding Fair (in thousands) Cost Gains Losses Value Available-for-sale: Obligations of U.S. government agencies $ 12,152 $ 36 $ - $ 12,188 Obligations of state and political subdivisions 119,919 257 2,303 117,873 U.S. government/government-sponsored agencies: Collateralized mortgage obligations - residential 17,969 155 40 18,084 Collateralized mortgage obligations - commercial 100,064 154 868 99,350 Mortgage-backed securities 20,593 159 176 20,576 Corporate debt securities 500 - 47 453 Negotiable certificates of deposit 3,172 44 - 3,216 Equity securities 1,010 - 74 936 Total available-for-sale securities $ 275,379 $ 805 $ 3,508 $ 272,676 December 31, 2015 Gross Gross Unrealized Unrealized Amortized Holding Holding Fair (in thousands) Cost Gains Losses Value Available-for-sale: Obligations of U.S. government agencies $ 43,787 $ 256 $ - $ 44,043 Obligations of state and political subdivisions 75,401 428 422 75,407 U.S. government/government-sponsored agencies: Collateralized mortgage obligations - residential 22,162 116 9 22,269 Collateralized mortgage obligations - commercial 89,900 124 601 89,423 Mortgage-backed securities 18,201 58 161 18,098 Corporate debt securities 500 - 77 423 Negotiable certificates of deposit 3,173 - 11 3,162 Equity securities 1,010 - 62 948 Total available-for-sale securities $ 254,134 $ 982 $ 1,343 $ 253,773 Except for U.S. government and government-sponsored agencies, there were no securities of any individual issuer that exceeded 10.0 December 31, 2016 2015. The following table shows the amortized cost and approximate fair value of FNCB’s available-for-sale debt securities at December 31, 2016 may December 31, 2016 Available-for-Sale Amortized Fair (in thousands) Cost Value Amounts maturing in: One year or less $ 248 $ 249 One year through five years 29,647 29,649 After five years through ten years 100,177 98,217 After ten years 5,671 5,615 Collateralized mortgage obligations 118,033 117,434 Mortgage-backed securities 20,593 20,576 Total $ 274,369 $ 271,740 The following table presents the gross proceeds received and gross realized gains and losses on sales of available-for-sale and held-to-maturity securities for each of the three December 31, 2016, 2015 2014. Year Ended December 31, (in thousands) 2016 2015 2014 Available-for-sale: Gross proceeds received $ 32,588 $ 88,658 $ 111,243 Gross realized gains 960 2,325 6,272 Gross realized losses - (29 ) - Held-to-maturity: Gross proceeds received $ - $ - $ 2,686 Gross realized gains - - 368 Gross realized losses - - - FNCB sold its entire held-to-maturity portfolio consisting of four $2.3 December 31, 2014. four zero not 2015 2016. The following tables present the number of, fair value and gross unrealized losses of available-for-sale securities with unrealized losses at December 31, 2016 2015, December 31, 2016 Less than 12 Months 12 Months or Greater Total Number Gross Number Gross Number Gross of Fair Unrealized of Fair Unrealized of Fair Unrealized (dollars in thousands) Securities Value Losses Securities Value Losses Securities Value Losses Obligations of U.S. government agencies - $ - $ - - $ - $ - - $ - $ - Obligations of state and policitical subdivisions 82 88,479 2,303 - - - 82 88,479 2,303 U.S. government/government-sponsored agencies: Collateralized mortgage obligations - residential 2 4,514 40 1 175 - 3 4,689 40 Collateralized mortgage obligations - commercial 17 70,146 868 - - - 17 70,146 868 Mortgage-backed securities 5 6,495 176 - - - 5 6,495 176 Corporate debt securities - - - 1 453 47 1 453 47 Negotiable certificates of deposit - - - - - - - - - Equity Securities - - - 1 926 74 1 926 74 Total 106 $ 169,634 $ 3,387 3 $ 1,554 $ 121 109 $ 171,188 $ 3,508 December 31, 2015 Less than 12 Months 12 Months or Greater Total Number Gross Number Gross Number Gross of Fair Unrealized of Fair Unrealized of Fair Unrealized (dollars in thousands) Securities Value Losses Securities Value Losses Securities Value Losses Obligations of U.S. government agencies - $ - $ - - $ - $ - - $ - $ - Obligations of state and policitical subdivisions 31 33,022 419 1 264 3 32 33,286 422 U.S. government/government-sponsored agencies: Collateralized mortgage obligations - residential 4 5,738 9 - - - 4 5,738 9 Collateralized mortgage obligations - commercial 16 67,969 601 - - - 16 67,969 601 Mortgage-backed securities 7 16,779 161 - - - 7 16,779 161 Corporate debt securities - - - 1 423 77 1 423 77 Negotiable certificates of deposit 12 2,913 11 - - - 12 2,913 11 Equity Securities - - - 1 938 62 1 938 62 Total 70 $ 126,421 $ 1,201 3 $ 1,625 $ 142 73 $ 128,046 $ 1,343 Management evaluates individual securities in an unrealized loss position quarterly for OTTI. As part of its evaluation, management considers, among other things, the length of time a security’s fair value is less than its amortized cost, the severity of decline, any credit deterioration of the issuer, whether or not management intends to sell the security, and whether it is more likely than not that FNCB will be required to sell the security prior to recovery of its amortized cost. There were 109 December 31, 2016, 25 82 one one December 31, 2016 may December 31, 2016. not December 31, 2016. Investments in FHLB of Pittsburgh and Federal Reserve Bank of Philadelphia (“FRB”) stock have limited marketability and are carried at cost. FNCB’s investment in FHLB of Pittsburgh stock totaled $3.3 $6.3 December 31, 2016 2015, December 31, 2016, $ 1.3 $1.3 December 31, 2015. no December 31, 2016 2015. |
Note 5 - Loans
Note 5 - Loans | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | Note 5. The following table summarizes loans receivable, net, by category at December 31, 2016 2015: December 31, (in thousands) 2016 2015 Residential real estate $ 144,260 $ 130,696 Commercial real estate 243,830 245,198 Construction, land acquisition and development 18,357 30,843 Commercial and industrial 153,758 149,826 Consumer 127,844 128,533 State and political subdivisions 43,709 46,056 Total loans, gross 731,758 731,152 Unearned income (48 ) (98 ) Net deferred loan costs 2,569 2,662 Allowance for loan and lease losses (8,419 ) (8,790 ) Loans, net $ 725,860 $ 724,926 FNCB has granted loans, letters of credit and lines of credit to certain of its executive officers and directors as well as to certain of their related parties. For more information about related party transactions, refer to Note 11, For information about credit concentrations within FNCB’s loan portfolio, refer to Note 12, FNCB originates one four secondary December 31, 2016, 2015 2014, $9.5 $7.9 $8.3 one four December 31, 2016, 2015 2014 $340 $292 $292 December 31, 2016 December 31, 2015, $596 $683 one four During the year ended December 31, 2016, three $1.3 $51 December 31, 2016. no December 31, 2015 2014. $103.5 $110.7 December 31, 2016 2015, FNCB sold all of its education loans, which are categorized as consumer loans, to a third December 31, 2014. $2.6 $13 December 31, 2014. FNCB does not have any lending programs commonly referred to as subprime lending. Subprime lending generally targets borrowers with weakened credit histories typically characterized by payment delinquencies, previous charge-offs, judgments, and bankruptcies, or borrowers with questionable repayment capacity as evidenced by low credit scores or high debt-burden ratios. FNCB provides for loan losses based on the consistent application of its documented ALLL methodology. Loan losses are charged to the ALLL and recoveries are credited to it. Additions to the ALLL are provided by charges against income based on various factors which, in management’s judgment, deserve current recognition of estimated probable losses. Loan losses are charged-off in the period the loans, or portions thereof, are deemed uncollectible. Generally, FNCB will record a loan charge-off (including a partial charge-off) to reduce a loan to the estimated recoverable amount based on its methodology detailed below. Management regularly reviews the loan portfolio and makes adjustments for loan losses in order to maintain the ALLL in accordance with GAAP. The ALLL consists primarily of the following two (1) Specific allowances are established for impaired loans, which FNCB defines as all loan relationships with an aggregate outstanding balance greater than $100 (2) General allowances are established for loan losses on a portfolio basis for loans that do not meet the definition of impaired. FNCB divides its portfolio into loan segments for loans exhibiting similar characteristics. Loans rated special mention or substandard and accruing , which are embedded in these loan segments , are then separated from these loan segments, as these loans are subject to an analysis that emphasizes the credit risk associated with these loans. An estimated loss rate is then applied to each loan segment, which are based on FNCB’s own historical loss experience for each respective loan segment. In addition , management evaluates and applies to each loan segment certain qualitative or environmental factors that are likely to cause estimated credit losses associated with FNCB’s existing portfolio to differ from historical experience, which are discussed below. For loans that have an internal credit rating of special mention or substandard, the qualitative and environmental factors are further adjusted for the increased risk. As part of its evaluation, management considers qualitative and environmental factors, including, but not limited to: ● changes in national, local, and business economic conditions and developments, including the condition of various market segments; ● changes in the nature and volume of the loan portfolio; ● changes in lending policies and procedures, including underwriting standards, collection, charge-off and recovery practices and results; ● changes in the experience, ability and depth of management and staff; ● changes in the quality of the loan review system and the degree of oversight by the Board of Directors; ● changes in the trend of the volume and severity of past due and classified loans, including trends in the volume of non-accrual loans, TDRs and other loan modifications; ● the existence and effect of any concentrations of credit and changes in the level of such concentrations; ● the effect of external factors such as competition and legal and regulatory requirements on the level of estimated credit losses in the current loan portfolio; and ● analysis of customers’ credit quality, including knowledge of their operating environment and financial condition. Management evaluates the credit quality of the loan portfolio on an ongoing basis, and performs a formal review of the adequacy of the ALLL on a quarterly basis. This evaluation is inherently subjective, as it requires material estimates that may may While management uses the best information available to make its evaluations, future adjustments to the ALLL may may Based on its evaluation of the ALLL, management had established an unallocated reserve of $74 December 31, 2015. twelve December 31, 2015. December 31, 2016, The following tables present, by loan category, the activity in the ALLL and the allocation of the ALLL and related loan balance disaggregated based on impairment methodology at December 31, 2016, 2015 2014. Allowance for Loan and Lease Losses by Loan Category December 31, 2016 Real Estate (in thousands) Residential Real Estate Commercial Real Estate Construction, Land Acquisition and Development Commercial and Industrial Consumer State and Political Subdivisions Unallocated Total Allowance for loan losses: Beginning balance, January 1, 2016 $ 1,333 $ 3,346 $ 853 $ 1,205 $ 1,494 $ 485 $ 74 $ 8,790 Charge-offs (153 ) (398 ) - (1,107 ) (960 ) - - (2,618 ) Recoveries 4 6 9 507 568 - - 1,094 Provisions (credits) (13 ) 343 (594 ) 1,131 355 5 (74 ) 1,153 Ending balance, December 31, 2016 $ 1,171 $ 3,297 $ 268 $ 1,736 $ 1,457 $ 490 $ - $ 8,419 Ending balance, December 31, 2016: Specific reserve $ 29 $ 254 $ - $ 18 $ 1 $ - $ - $ 302 Ending balance, December 31, 2016: General reserve $ 1,142 $ 3,043 $ 268 $ 1,718 $ 1,456 $ 490 $ - $ 8,117 Loans receivable: Ending balance, December 31, 2016 $ 144,260 $ 243,830 $ 18,357 $ 153,758 $ 127,844 $ 43,709 $ - $ 731,758 Ending balance, December 31, 2016: Individually evaluated for impairment $ 1,929 $ 2,937 $ 350 $ 91 $ 297 $ - $ - $ 5,604 Ending balance, December 31, 2016: Collectively evaluated for impairment $ 142,331 $ 240,893 $ 18,007 $ 153,667 $ 127,547 $ 43,709 $ - $ 726,154 Allowance for Loan and Lease Losses by Loan Category December 31, 2015 Real Estate (in thousands) Residential Real Estate Commercial Real Estate Construction, Land Acquisition and Development Commercial and Industrial Consumer State and Political Subdivisions Unallocated Total Allowance for loan losses: Beginning balance, January 1, 2015 $ 1,772 $ 4,663 $ 665 $ 2,104 $ 1,673 $ 598 $ 45 $ 11,520 Charge-offs (139 ) (912 ) (688 ) (180 ) (716 ) - - (2,635 ) Recoveries 58 307 - 400 485 - - 1,250 Provisions (credits) (358 ) (712 ) 876 (1,119 ) 52 (113 ) 29 (1,345 ) Ending balance, December 31, 2015 $ 1,333 $ 3,346 $ 853 $ 1,205 $ 1,494 $ 485 $ 74 $ 8,790 Ending balance, December 31, 2015: Specific reserve $ 92 $ 287 $ 1 $ - $ 1 $ - $ - $ 381 Ending balance, December 31, 2015: General reserve $ 1,241 $ 3,059 $ 852 $ 1,205 $ 1,493 $ 485 $ 74 $ 8,409 Loans receivable: Ending balance, December 31, 2015 $ 130,696 $ 245,198 $ 30,843 $ 149,826 $ 128,533 $ 46,056 $ - $ 731,152 Ending balance, December 31, 2015: Individually evaluated for impairment $ 2,930 $ 3,831 $ 646 $ 203 $ 351 $ - $ - $ 7,961 Ending balance, December 31, 2015: Collectively evaluated for impairment $ 127,766 $ 241,367 $ 30,197 $ 149,623 $ 128,182 $ 46,056 $ - $ 723,191 Allowance for Loan and Lease Losses by Loan Category December 31, 2014 Real Estate (in thousands) Residential Real Estate Commercial Real Estate Construction, Land Acquisition and Development Commercial and Industrial Consumer State and Political Subdivisions Unallocated Total Allowance for loan losses: Beginning balance, January 1, 2014 $ 2,287 $ 6,017 $ 924 $ 2,321 $ 1,789 $ 679 $ - $ 14,017 Charge-offs (204 ) - (45 ) (217 ) (922 ) - - (1,388 ) Recoveries 90 362 3,538 262 508 - - 4,760 Provisions (credits) (401 ) (1,716 ) (3,752 ) (262 ) 298 (81 ) 45 (5,869 ) Ending balance, December 31, 2014 $ 1,772 $ 4,663 $ 665 $ 2,104 $ 1,673 $ 598 $ 45 $ 11,520 Ending balance, December 31, 2014: Specific reserve $ 51 $ 331 $ 1 $ - $ 1 $ - $ - $ 384 Ending balance, December 31, 2014: General reserve $ 1,721 $ 4,332 $ 664 $ 2,104 $ 1,672 $ 598 $ 45 $ 11,136 Loans receivable: Ending balance, December 31, 2014 $ 122,832 $ 233,473 $ 18,835 $ 132,057 $ 122,092 $ 40,205 $ - $ 669,494 Ending balance, December 31, 2014: Individually evaluated for impairment $ 2,487 $ 6,660 $ 256 $ 32 $ 361 $ - $ - $ 9,796 Ending balance, December 31, 2014: Collectively evaluated for impairment $ 120,345 $ 226,813 $ 18,579 $ 132,025 $ 121,731 $ 40,205 $ - $ 659,698 Credit Quality Indicators – Commercial Loans Management continuously monitors and evaluates the credit quality of FNCB’s commercial loans by regularly reviewing certain credit quality indicators. Management utilizes credit risk ratings as the key credit quality indicator for evaluating the credit quality of these loan receivables. FNCB’s commercial loan classification and credit grading processes are part of the lending, underwriting, and credit administration functions to ensure an ongoing assessment of credit quality. FNCB maintains a formal, written loan classification and credit grading system that includes a discussion of the factors used to assign appropriate classifications of credit grades to loans. The risk grade groupings provide a mechanism to identify risk within the loan portfolio and provide management and the Board with periodic reports by risk category. The process also identifies groups of loans that warrant the special attention of management. Accurate and timely loan classification and credit grading is a critical component of loan portfolio management. Loan officers are required to review their loan portfolio risk ratings regularly for accuracy. In addition, the credit risk ratings play an important role in the loan review function, as well as the establishment and evaluation of the provision for loan and lease losses and the ALLL. The loan review function uses the same risk rating system in the loan review process. Quarterly, FNCB engages an independent third FNCB’s loan rating system assigns a degree of risk to commercial loans 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, among other factors. Management analyzes these non-homogeneous loans individually by grading the loans as to credit risk and probability of collection for each type of loan. Commercial and industrial loans include commercial indirect auto loans which are not individually risk rated, and construction, land acquisition and development loans include residential construction loans which are also not individually risk rated. These loans are monitored on a pool basis due to their homogeneous nature as described in “Credit Quality Indicators – Other Loans” below. FNCB risk rates certain residential real estate loans and consumer loans that are part of a larger commercial relationship using its credit grading system as described in “Credit Quality Indicators – Commercial Loans.” The grading system contains the following basic risk categories: 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. This analysis is performed on a quarterly basis using the following definitions for risk ratings: Pass - Assets rated 1 5 Special Mention – Assets classified as special mention do not currently expose FNCB to a sufficient degree of risk to warrant an adverse classification but do possess credit deficiencies or potential weaknesses deserving close attention. Special Mention assets have a potential weakness or pose an unwarranted financial risk which, if not corrected, could weaken the asset and increase risk in the future. Substandard - Assets classified as substandard have well defined weaknesses based on objective evidence, and are characterized by the distinct possibility that FNCB will sustain some loss if the deficiencies are not corrected. Doubtful - Assets classified as doubtful have all of the weaknesses inherent in those classified substandard with the added characteristic that the weaknesses present make collection or liquidation in full highly questionable and improbable based on current circumstances. Loss - Assets classified as loss are those considered uncollectible and of such little value that their continuance as assets is not warranted. Credit Quality Indicators – Other Loans Certain residential real estate loans, consumer loans, and commercial indirect auto loans are monitored on a pool basis due to their homogeneous nature. Loans that are delinquent 90 The following tables present the recorded investment in loans receivable by loan category and credit quality indicator at December 31, 2016 2015: Credit Quality Indicators December 31, 2016 Commercial Loans Other Loans Special Subtotal Accruing Non-accrual Subtotal Total Pass Mention Substandard Doubtful Loss Commercial Loans Loans Other Loans Residential real estate $ 25,506 $ 394 $ 466 $ - $ - $ 26,366 $ 117,286 $ 608 $ 117,894 $ 144,260 Commercial real estate 233,523 4,911 5,396 - - 243,830 - - - 243,830 Construction, land acquisition and development 14,101 346 448 - - 14,895 3,462 - 3,462 18,357 Commercial and industrial 145,794 2,794 1,128 - - 149,716 4,042 - 4,042 153,758 Consumer 2,699 - 37 - - 2,736 124,935 173 125,108 127,844 State and political subdivisions 40,424 2,964 321 - - 43,709 - - - 43,709 Total $ 462,047 $ 11,409 $ 7,796 $ - $ - $ 481,252 $ 249,725 $ 781 $ 250,506 $ 731,758 Credit Quality Indicators December 31, 2015 Commercial Loans Other Loans Special Subtotal Accruing Non-accrual Subtotal Total Pass Mention Substandard Doubtful Loss Commercial Loans Loans Other Loans Residential real estate $ 21,018 $ 449 $ 984 $ - $ - $ 22,451 $ 107,204 $ 1,041 $ 108,245 $ 130,696 Commercial real estate 225,850 11,356 7,992 - - 245,198 - - - 245,198 Construction, land acquisition and development 23,946 358 5,137 - - 29,441 1,402 - 1,402 30,843 Commercial and industrial 142,242 595 2,209 - - 145,046 4,775 5 4,780 149,826 Consumer 2,747 9 39 - - 2,795 125,392 346 125,738 128,533 State and political subdivisions 45,464 120 472 - - 46,056 - - - 46,056 Total $ 461,267 $ 12,887 $ 16,833 $ - $ - $ 490,987 $ 238,773 $ 1,392 $ 240,165 $ 731,152 Included in loans receivable are loans for which the accrual of interest income has been discontinued due to deterioration in the financial condition of the borrowers. The recorded investment in these non-accrual loans was $2.2 $3.8 December 31, 2016 2015, 90 six may may 90 no 90 December 31, 2016 2015. The following tables present the delinquency status of past due and non-accrual loans at December 31, 2016 2015: December 31, 2016 Delinquency Status 0-29 Days 30-59 Days 60-89 Days >/= 90 Days (in thousands) Past Due Past Due Past Due Past Due Total Performing (accruing) loans: Real estate: Residential real estate $ 143,142 $ 229 $ 107 $ - $ 143,478 Commercial real estate 241,477 830 553 - 242,860 Construction, land acquisition and development 17,766 346 - - 18,112 Total real estate 402,385 1,405 660 - 404,450 Commercial and industrial 153,378 307 9 - 153,694 Consumer 126,341 1,030 300 - 127,671 State and political subdivisions 43,709 - - - 43,709 Total performing (accruing) loans 725,813 2,742 969 - 729,524 Non-accrual loans: Real estate: Residential real estate 176 202 17 387 782 Commercial real estate 201 23 - 746 970 Construction, land acquisition and development - 245 - - 245 Total real estate 377 470 17 1,133 1,997 Commercial and industrial - - - 64 64 Consumer 56 25 2 90 173 State and political subdivisions - - - - - Total non-accrual loans 433 495 19 1,287 2,234 Total loans receivable $ 726,246 $ 3,237 $ 988 $ 1,287 $ 731,758 December 31, 2015 Delinquency Status 0-29 Days 30-59 Days 60-89 Days >/= 90 Days (in thousands) Past Due Past Due Past Due Past Due Total Performing (accruing) loans: Real estate: Residential real estate $ 129,206 $ 51 $ 225 $ - $ 129,482 Commercial real estate 243,168 53 286 - 243,507 Construction, land acquisition and development 30,475 26 - - 30,501 Total real estate 402,849 130 511 - 403,490 Commercial and industrial 149,329 236 66 - 149,631 Consumer 126,760 994 433 - 128,187 State and political subdivisions 46,056 - - - 46,056 Total peforming (accruing) loans 724,994 1,360 1,010 - 727,364 Non-accrual loans: Real estate: Residential real estate 923 99 44 148 1,214 Commercial real estate 1,576 - 115 - 1,691 Construction, land acquisition and development 342 - - - 342 Total real estate 2,841 99 159 148 3,247 Commercial and industrial 98 - - 97 195 Consumer 69 21 3 253 346 State and political subdivisions - - - - - Total non-accrual loans 3,008 120 162 498 3,788 Total loans receivable $ 728,002 $ 1,480 $ 1,172 $ 498 $ 731,152 The following tables present a distribution of the recorded investment, unpaid principal balance and the related allowance for FNCB’s impaired loans, which have been analyzed for impairment under ASC 310, December 31, 2016 2015. $100 450. $100 450 $ 0.8 December 31, 2016 2015. December 31, 2016 (in thousands) Recorded Investment Unpaid Principal Balance Related Allowance With no allowance recorded: Real estate: Residential real estate $ 386 $ 477 $ - Commercial real estate 1,066 1,143 - Construction, land acquisition and development 350 766 - Total real estate 1,802 2,386 - Commercial and industrial 73 105 - Consumer - - - State and political subdivisions - - - Total impaired loans with no related allowance recorded 1,875 2,491 - With a related allowance recorded: Real estate: Residential real estate 1,543 1,543 29 Commercial real estate 1,871 1,871 254 Construction, land acquisition and development - - - Total real estate 3,414 3,414 283 Commercial and industrial 18 18 18 Consumer 297 297 1 State and political subdivisions - - - Total impaired loans with a related allowance recorded 3,729 3,729 302 Total of impaired loans Real estate: Residential real estate 1,929 2,020 29 Commercial real estate 2,937 3,014 254 Construction, land acquisition and development 350 766 - Total real estate 5,216 5,800 283 Commercial and industrial 91 123 18 Consumer 297 297 1 State and political subdivisions - - - Total impaired loans $ 5,604 $ 6,220 $ 302 December 31, 2015 (in thousands) Recorded Investment Unpaid Principal Balance Related Allowance With no allowance recorded: Real estate: Residential real estate $ 1,042 $ 1,138 $ - Commercial real estate 1,850 2,868 - Construction, land acquisition and development 470 844 - Total real estate 3,362 4,850 - Commercial and industrial 124 156 - Consumer - - - State and political subdivisions - - - Total impaired loans with no related allowance recorded 3,486 5,006 - With a related allowance recorded: Real estate: Residential real estate 1,888 1,888 92 Commercial real estate 1,981 1,981 287 Construction, land acquisition and development 176 176 1 Total real estate 4,045 4,045 380 Commercial and industrial 79 79 - Consumer 351 351 1 State and political subdivisions - - - Total impaired loans with a related allowance recorded 4,475 4,475 381 Total of impaired loans Real estate: Residential real estate 2,930 3,026 92 Commercial real estate 3,831 4,849 287 Construction, land acquisition and development 646 1,020 1 Total real estate 7,407 8,895 380 Commercial and industrial 203 235 - Consumer 351 351 1 State and political subdivisions - - - Total impaired loans $ 7,961 $ 9,481 $ 381 The total recorded investment in impaired loans, which consists of non-accrual loans with an aggregate loan relationship greater than $100,000 $5.6 $8.0 December 31, 2016 2015, $0.3 $0.4 December 31, 2016 2015, The following table presents the average balance and the interest income recognized on impaired loans for the years ended December 31, 2016, 2015 2014: Year Ended December 31, 2016 2015 2014 (in thousands) Average Balance Interest Income (1) Average Balance Interest Income (1) Average Balance Interest Income (1) Real estate: Residential real estate $ 2,428 $ 91 $ 3,157 $ 121 $ 2,226 $ 91 Commercial real estate 3,489 92 6,830 106 6,616 118 Construction, land acquisition and development 428 7 570 18 284 15 Total real estate 6,345 190 10,557 245 9,126 224 Commercial and industrial 283 2 174 2 76 - Consumer 300 10 356 11 343 11 State and political subdivisions - - - - - - Total impaired loans $ 6,928 $ 202 $ 11,087 $ 258 $ 9,545 $ 235 (1) The additional interest income that would have been earned on non-accrual and restructured loans had these loans performed in accordance with their original terms approximated $0.2 December 31, 2016, $0.4 December 31, 2015 2014. Troubled Debt Restructured Loans TDRs at December 31, 2016 2015 $4.3 $5.8 $4.2 $0.1 December 31, 2016 $5.0 $0.8 December 31, 2015. $261 $295 December 31, 2016 2015, not December 31, 2016 2015. The modification of the terms of such loans included one The following tables show the pre- and post-modification recorded investment in loans modified as TDRs during the years ended December 31, 2016 2015: For the Year Ended December 31, 2016 For the Year Ended December 31, 2015 Pre-Modification Post-Modification Pre-Modification Post-Modification Number Outstanding Outstanding Number Outstanding Outstanding of Recorded Recorded of Recorded Recorded (in thousands) Contracts Investments Investments Contracts Investments Investments Troubled debt restructurings: Residential real estate 2 $ 254 $ 258 5 $ 810 $ 827 Commercial real estate - - - 1 1,654 742 Construction, land acquisition and development - - - 1 96 96 Commercial and industrial 2 52 52 1 79 79 Consumer - - - - - - State and political subdivisions - - - - - - Total new troubled debt restructurings 4 $ 306 $ 310 8 $ 2,639 $ 1,744 The following table presents the type of modifications made during the years ended December 31, 2016 2015: For the Year Ended December 31, 2016 (in thousands) Extension of Term Extension of Term and Capitalization of Taxes Principal Forbearance Total Modifications Type of modification: Residential real estate $ 159 $ 95 $ - $ 254 Commercial real estate - - - - Construction, land acquisition and development - - - - Commercial and industrial 52 - - 52 Consumer - - - - State and political subdivisions - - - - Total modifications $ 211 $ 95 $ - $ 306 For the Year Ended December 31, 2015 (in thousands) Extension of Term Extension of Term and Capitalization of Taxes Principal Forbearance Total Modifications Type of modification: Residential real estate $ 710 $ 100 $ - $ 810 Commercial real estate - - 1,654 1,654 Construction, land acquisition and development 96 - - 96 Commercial and industrial - - 79 79 Consumer - - - - State and political subdivisions - - - - Total modifications $ 806 $ 100 $ 1,733 $ 2,639 The TDRs described above increased the allowance for loan losses by $1 $2 December 31, 2016 2015, December 31, 2015, one $1.7 $912 December 31, 2015 $912 no December 31, 2016. The following table presents the number and recorded investment of TDRs that were modified within the previous 12 90 December 31, 2016: For the Year Ended December 31, 2016 (in thousands) Number of Contracts Recorded Investment Type of modification: Residential real estate 3 $ 107 Commercial real estate 1 680 Construction, land acquisition and development - - Commercial and industrial - - Consumer - - State and political subdivisions - - Total modifications 4 $ 787 For impairment determination purposes, the three December 31, 2016 three $37 December 31, 2016. one $680 December 31, 2016, third 2016. There were no TDRs that were modified during the previous twelve December 31, 2015 2014. one $3.5 December 31, 2015, 12 fourth 2015. Residential Real Estate Loan Foreclosures There were five three December 31, 2016 2015, $92 December 31, 2016 $340 December 31, 2015. one $237 December 31, 2016. two $ 41 December 31, 2016 2015. |
Note 6 - Bank Premises and Equi
Note 6 - Bank Premises and Equipment | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | Note 6 . BANK PREMISES AND EQUIPMENT The following table summarizes bank premises and equipment at December 31, 2016 2015: December 31, (in thousands) 2016 2015 Land $ 2,757 $ 2,731 Buildings and improvements 7,676 7,406 Furniture, fixtures and equipment 12,299 12,674 Leasehold improvements 5,184 5,007 Total 27,916 27,818 Accumulated depreciation (17,132 ) (16,625 ) Net $ 10,784 $ 11,193 Depreciation and amortization expense of premises and equipment amounted to $1.3 $1.2 $1.3 December 31, 2016, 2015 2014, On January 24, 2014, $2.3 $181 $607 December 31, 2014. |
Note 7 - Deposits
Note 7 - Deposits | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Deposit Liabilities Disclosures [Text Block] | Note 7 . DEPOSITS The following table summarizes deposits at December 31, 2016 2015: December 31, (in thousands) 2016 2015 Demand (non-interest bearing) $ 173,702 $ 154,531 Interest-bearing: Interest-bearing demand 551,114 364,303 Savings 103,241 92,890 Time ($250,000 and over) 35,917 30,290 Other time 151,165 179,532 Total interest-bearing 841,437 667,015 Total deposits $ 1,015,139 $ 821,546 The aggregate amount of deposits reclassified as loans was $80 December 31, 2016 $69 December 31, 2015. 2016 2015, no The following table summarizes scheduled maturities of time deposits, including certificates of deposit and individual retirement accounts, at December 31, 2016: Time Deposits $250,000 Other (in thousands) and Over Time Deposits Total 2017 $ 25,137 $ 99,187 $ 124,324 2018 7,015 30,559 37,574 2019 3,111 6,856 9,967 2020 254 8,068 8,322 2021 400 6,445 6,845 2022 and thereafter - 50 50 Total $ 35,917 $ 151,165 $ 187,082 Investment securities with a carrying value of $271.3 $252.4 December 31, 2016 2015, $75.0 December 31, 2016. no December 31, 2015. |
Note 8 - Borrowed Funds
Note 8 - Borrowed Funds | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | Note 8 . BORROWED FUNDS The following table summarizes the components of borrowed funds at December 31, 2016 2015: December 31, (in thousands) 2016 2015 Federal Home Loan Bank of Pittsburgh advances - overnight $ - $ 60,500 Federal Home Loan Bank of Pittsburgh advances - term 58,537 75,302 Subordinated debentures 10,000 14,000 Junior subordinated debentures 10,310 10,310 Total $ 78,847 $ 160,112 Short-term borrowings available to FNCB include overnight FHLB of Pittsburgh advances, federal funds purchased and the Federal Reserve Discount Window, which generally represent overnight or less than 30 $20.0 $14.4 December 31, 2016. $25.9 December 31, 2016. FNCB has an agreement with the FHLB of Pittsburgh which allows for borrowings, either overnight or term, up to its maximum borrowing capacity, which is based on a percentage of qualifying loans pledged under a blanket pledge agreement. Loans of $427.8 $377.5 December 31, 2016 2015, $298.1 December 31, 2016, $58.5 nine fifteen $75.0 The maximum amount of borrowings outstanding at any month end during the years ended December 31, 2016 2015 $145.1 $160.1 On December 14, 2006, $10.0 7.02%, December 15, 2036. 100.0% $10.3 7.02% 1.67% 3 2.35% 2016, 1.99% 2015, 1.93% 2014. twenty December 15, 2011. $10.3 December 31, 2016 2015 December 31, 2016 2015. FNCB was released from a Written Agreement with the Federal Reserve Bank on September 2, 2015. September 14, 2010 December 15, 2014. 2014, December 15, 2014, $884 December 31, 2016 2015, $13 $11 On September 1, 2009, $25.0 September 1, 2019 July 1, 2015, 9% first third June 30, 2015, 9.00% 4.50% July 1, 2015 June 30, 2015, 44% $11.0 June 30, 2015, $14.0 16% $4.0 September 1, 2017; 20% $5.0 September 1, 2018; 20% $5.0 September 1, 2019, October 28, 2016, $4.0 $4.0 September 1, 2017, December 1, 2016. $10.0 December 31, 2016 $14.0 December 31, 2015. While FNCB was under the Written Agreement, principal and interest payments on the Notes required written non-objection from the Reserve Bank. Pursuant to the Written Agreement, FNCB had been deferring the quarterly interest payments on the Notes beginning December 1, 2010 June 1, 2015. September 1, 2015 January 27, 2016, March 1, 2016 $11.0 March 1, 2016. $39 $10.9 December 31, 2016 2015, The following table presents borrowed funds and the weighted-average interest rate by maturity date at December 31, 2016: December 31, 2016 (in thousands) Amount Weighted Average Interest Rate Within one year $ 47,553 0.68 % After one year but within two years 10,000 2.77 % After two years but within three years 10,984 3.26 % After three years but within four years - - After four years but within five years - - After five years 10,310 2.39 % Total $ 78,847 1.53 % |
Note 9 - Benefit Plans
Note 9 - Benefit Plans | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Compensation and Employee Benefit Plans [Text Block] | Note 9 . BENEFIT PLANS The Bank has a defined contribution profit sharing plan (“Profit Sharing Plan”) which includes the provision under section 401(k) (“401(k)”) 401(k) may 2016, 2015 2014. 401(k) $168 $149 $134 2016, 2015 2014, The Bank has an unfunded non-qualified deferred compensation plan covering all eligible Bank officers and directors as defined by the plan. This plan permits eligible participants to elect to defer a portion of their compensation. Elective deferred compensation and accrued earnings, included in other liabilities in the accompanying consolidated statements of financial condition, aggregated $ 3.1 December 31, 2016 2015. On October 1, 2015, 201(2), 301(a)(3) 401(a)(1) 1974. $147 2016 $130 2015. $277 December 31, 2016 $130 December 31, 2015. |
Note 10 - Income Taxes
Note 10 - Income Taxes | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | Note 1 0 . INCOME TAXES The following table summarizes the current and deferred amounts of the provision for income tax expense (benefit) and the change in valuation allowance for each of the three December 31, 2016, 2015 2014: For the Year Ended December 31, (in thousands) 2016 2015 2014 Current $ 134 $ (75 ) $ 326 Deferred 1,968 2,297 3,799 Change in valuation allowance (355 ) (29,981 ) (3,799 ) Income tax expense (benefit) $ 1,747 $ (27,759 ) $ 326 The following table presents a reconciliation between the effective income tax expense (benefit) and the income tax expense that would have been provided at the federal statutory tax rate of 34.0% December 31, 2016, 2015 2014: For the Year Ended December 31, (in thousands) 2016 2015 2014 Provision at statutory tax rates $ 2,739 $ 2,748 $ 4,674 Add (deduct): Tax effects of non-taxable income (481 ) (483 ) (1,087 ) Non-deductible interest expense 9 11 21 Bank-owned life insurance (187 ) (192 ) (221 ) Change in valuation allowance (355 ) (29,981 ) (3,799 ) Regulatory penalties - - 570 Other items, net 22 138 168 Income tax expense (benefit) $ 1,747 $ (27,759 ) $ 326 The following table summarizes the components of the net deferred tax asset included in other assets at December 31, 2016 2015: December 31, (in thousands) 2016 2015 Allowance for loan and lease losses $ 2,961 $ 3,105 Deferred compensation 1,242 1,171 Unrealized holding losses on securities available-for-sale 919 123 Other real estate owned valuation 233 265 Deferred intangible assets 997 1,189 Employee benefits 272 258 Accrued interest - 199 AMT tax credits 2,600 2,466 Charitable contribution carryover 235 355 Accrued rent expense 157 217 Accrued vacation 55 83 Accrued legal settlement costs 941 923 Deferred income 81 96 Net operating loss carryover 17,123 18,910 Gross deferred tax assets 27,816 29,360 Deferred loan origination costs (551 ) (1,074 ) Accrued interest (193 ) - Prepaid expenses (74 ) (73 ) Depreciation (8 ) (51 ) Gross deferred tax liabilities (826 ) (1,198 ) Net deferred asset before valuation allowance 26,990 28,162 Valuation allowance - (355 ) Net deferred tax assets $ 26,990 $ 27,807 As of December 31, 2016, $50.4 $17.1 2030, December 31, 2016, $690 $235 December 31, 2017 $2.6 December 31, 2016 December 31, 2015, $55.6 $1.0 $2.5 Management evaluates the carrying amount of its deferred tax assets on a quarterly basis, or more frequently, if necessary, in accordance with guidance set forth in ASC Topic 740 In evaluating available evidence, management considers, among other factors, historical financial performance, expectation of future earnings, the ability to carry back losses to recoup taxes previously paid, length of statutory carry forward periods, experience with operating loss and tax credit carry forwards not expiring unused, tax planning strategies and timing of reversals of temporary differences. In assessing the need for a valuation allowance, management carefully weighs both positive and negative evidence currently available. Based on the analysis of all available positive and negative evidence, management determined that negative evidence existed at December 31, 2014 100.0% Management performed an evaluation of FNCB’s deferred tax assets at December 31, 2015 December 31, 2014 three This analysis supported the reversal of the valuation allowance established for deferred tax assets at December 31, 2015 December 31, 2015, $1.0 20 5th December 31, 2015. $355 December 31, 2015. At December 31, 2016, 2016 $353 $1.0 December 31, 2016, 2020. 2016 December 31, 2016. |
Note 11 - Related Party Transac
Note 11 - Related Party Transactions | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | Note 1 1 . RELATED PARTY TRANSACTIONS In conducting its business, FNCB has engaged in, and intends to continue to engage in, banking and financial transactions with its directors, executive officers and their related parties. FNCB has granted loans, letters of credit and lines of credit to directors, executive officers and their related parties. The following table summarizes the changes in the total amounts of such outstanding loans, advances under lines of credit, net of participations sold, as well as repayments during the years ended December 31, 2016 2015: For the Year Ended December 31, (in thousands) 2016 2015 Balance January 1, $ 52,652 $ 36,783 Additions, new loans and advances 24,917 65,411 Repayments (35,513 ) (48,852 ) Other (1) (49 ) (690 ) Balance December 31, $ 42,007 $ 52,652 (1) There was one $381 December 31, 2016. December 31, 2016. Previously included in related party loans was a commercial line of credit with a company owned by a director that was paid off during the year ended December 31, 2016. $11.0 December 31, 2015. $5.2 $4.4 December 31, 2015. 25 Deposits from directors, executive officers and their related parties held by the Bank at December 31, 2016 2015 $119.3 $106.1 $196 $276 $97 December 31, 2016, 2015 2014, In the course of its operations, FNCB acquires goods and services from, and transacts business with, various companies of related parties, which include, but are not limited to, employee health insurance, fidelity bond and errors and omissions insurance, legal services, and repair of repossessed automobiles for resale. FNCB recorded payments to related parties for goods and services of $2.6 $2.1 $2.7 2016, 2015, 2014, The Notes held by directors and/or their related parties totaled $6.2 December 31, 2016 $8.6 December 31, 2015. June 12, 2015, 9.00% 4.50% July 1, 2015, 44% June 30, 2015. $14.0 June 12, 2015, seven, $10.0 $10.0 $6.4 June 30, 2015, $11.0 $6.8 $6.4 December 1, 2016, $4.0 September 1, 2017, $2.5 The following table summarizes the activity related to FNCB’s subordinated debt for the years ended December 31, 2016 2015: For the Year Ended For the Year Ended December 31, 2016 December 31, 2015 (in thousands) Related Party Subordinated Noteholders Other Subordinated Noteholders Total Subordinated Notes Outstanding Related Party Subordinated Noteholders Other Subordinated Noteholders Total Subordinated Notes Outstanding Balance, beginning of period $ 8,640 $ 5,360 $ 14,000 $ 9,000 $ 16,000 $ 25,000 Assignments - - - 6,429 (6,429 ) - Principal reductions (2,469 ) (1,531 ) (4,000 ) (6,789 ) (4,211 ) (11,000 ) Balance, end of period $ 6,171 $ 3,829 $ 10,000 $ 8,640 $ 5,360 $ 14,000 On March 1, 2016, September 1, 2010 May 31, 2015, $10.8 $3.9 $395 2016 $233 2015. $386 $606 December 31, 2016 2015, $24 December 31, 2016 $3.9 December 31, 2015. |
Note 12 - Commitments, Continge
Note 12 - Commitments, Contingencies and Concentrations | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | Note 1 2 . COMMITMENTS, CONTINGENCIES AND CONCENTRATIONS Leases At December 31, 2016, one December 31, 2016 Minimum Future Lease Payments December 31, 2016 (in thousands) Facilities Equipment Total 2017 $ 519 $ 41 $ 560 2018 220 28 248 2019 136 27 163 2020 111 5 116 2021 89 - 89 2022 and thereafter 206 - 206 Total $ 1,281 $ 101 $ 1,382 Total rental expense under leases amounted to $456 $795 $660 2016, 2015 2014, Financial Instruments with off-balance sheet commitments FNCB is a party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit and standby letters of credit that involve varying degrees of credit, interest rate or liquidity risk in excess of the amount recognized in the balance sheet. FNCB’s exposure to credit loss from nonperformance by the other party to the financial instruments for commitments to extend credit and standby letters of credit is represented by the contractual amount of those instruments. Financial instruments whose contract amounts represent credit risk at December 31, 2016 2015 December 31, (in thousands) 2016 2015 Commitments to extend credit $ 150,111 $ 170,465 Standby letters of credit 21,220 22,092 $249 $300 December 31, 2016 2015, Commitments to extend credit are agreements to lend to customers in accordance with contractual provisions. These commitments usually are for specific periods or contain termination clauses and may Letters of credit and financial guarantees are agreements whereby FNCB guarantees the performance of a customer to a third may Federal Home Loan Bank — Mortgage Partnership Finance Program Under a secondary 1% December 31, 2016, $7.6 first December 31, 2016, $325 $60 December 31, 2016 2015. Concentrations of Credit Risk Cash Concentrations: The Bank maintains cash balances at several correspondent banks. There were no due from bank accounts in excess of the $250 December 31, 2016 December 31, 2015. Loan Concentrations: FNCB attempts to limit its exposure to concentrations of credit risk by diversifying its loan portfolio and closely monitoring any concentrations of credit risk. The commercial real estate and construction, land acquisition and development portfolios comprise $262.2 35.8% December 31, 2016. $25.7 3.5%, December 31, 2016. FNCB considers an industry concentration within the loan portfolio to exist if the aggregate loan balance outstanding for that industry exceeds 25.0% December 31, 2016 2015: December 31, 2016 December 31, 2015 % of % of (in thousands) Amount Gross Loans Amount Gross Loans Retail space/shopping centers $ 38,573 5.27 % $ 35,292 4.83 % Automobile dealers 31,989 4.37 % 34,594 4.73 % 1-4 family residential investment properties 24,413 3.34 % 18,957 2.59 % Litigation On May 24, 2012, December 18, 2013, February 4, 2014, $5.0 $5.0 March 28, 2014. $2.5 December 31, 2013. April 1, 2014, $2.5 $2.5 December 31, 2016, $2.5 On September 5, 2012, November 9, 2012, On February 16, 2017, Steven Antonik, In dividually, and as Administrator of the E state of Linda Kluska, William R. Howells and Louise A. Howells, Summer Benjamin, and Joshua Silfee, on behalf of themselves and all other s similarly situated vs. First N ational Community Bancorp, Inc. and First N ationa l Community Bank 2013 4438 Charles Saxe, III, Individually and on b ehalf of all o thers similarly situated vs. First N ational Community B ank 2013 5071 1) ($750,000)(an 2015 2) 3) 4) 1) 2) 3) tentative December 17, 2015, ($750,000), 2015 FNCB has been subject to tax audits and is also a party to routine litigation involving various aspects of its business, such as employment practice claims, workers compensation claims, claims to enforce liens, condemnation proceedings on properties in which FNCB holds security interests, claims involving the making and servicing of real property loans and other issues incident to its business, none of which has or is expected to have a material adverse impact on the consolidated financial condition, results of operations or liquidity of FNCB. |
Note 13 - Stock Compensation Pl
Note 13 - Stock Compensation Plans/Subsequent Event | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | Note 1 3 . STOCK COMPENSATION PLANS /SUBSEQUENT EVENT FNCB had an Employee Stock Incentive Plan (the “Stock Incentive Plan”), where stock options were granted to key officers and other employees of FNCB. The aggregate number of shares authorized to be issued upon exercise of the options under the Stock Incentive Plan could not exceed 1,100,000 six ten August 30, 2010. no December 31, 2016, 2015, 2014. The following table summarizes the status of FNCB’s Stock Incentive Plan: For the Years Ended December 31, 2016 2015 2014 Weighted Weighted Weighted Average Average Average Exercise Exercise Exercise Shares Price Shares Price Shares Price Stock options outstanding at the beginning of the year 50,746 $ 15.20 64,479 $ 15.87 82,598 $ 15.98 Granted - - - - - - Exercised - - - - - - Forfeited (13,046 ) 21.14 (13,733 ) 18.33 (18,119 ) 16.37 Stock options outstanding at the end of the year 37,700 $ 13.15 50,746 $ 15.20 64,479 $ 15.87 Options exercisable at year end 37,700 $ 13.15 50,746 $ 15.20 64,479 $ 15.87 Weighted average fair value of options granted during the year $ - $ - $ - Stock-based compensation expense $ - $ - $ - At December 31, 2016, 2015 2014 no no The following table presents information pertaining to options outstanding at December 31, 2016: Options Outstanding Options Excercisable Weighted Average Weighted Weighted Remaining Average Average Number Contractual Exercise Number Exercise Range of Exercise Price Outstanding Life Price Exercisable Price $10.81 - $16.90 37,700 1.57 $ 13.15 37,700 $ 13.15 On October 29, 2014, 2014 “2014 13,500 December 1, 2014, 50 12,850 2014 $6.02 On November 25, 2015, 2015 “2015 13,550 November 25, 2015, 50 13,300 2015 $5.15 The total cost of these grants, which was included in salary expense in the consolidated statements of income, amounted to $68 $77 December 31, 2015 2014, No 2016. FNCB has a Long Term Incentive Compensation Plan (“LTIP”) for executives and certain key employees. The LTIP authorizes up to 1,200,000 March 1, 2014. 45,750 March 1, 2015 March 1, 2016, 84,900 67,600 December 31, 2016, 1,026,752 December 31, 2016, 2015, 2014, $265 $247 $93 December 31, 2016, 2015, 2014 $396 $453 $214 March 1, 2017, 54,549 The following table summarizes the activity related to FNCB’s unvested restricted stock awards during the year ended December 31, 2016. For the Years Ended December 31, 2016 2015 2014 Weighted- Weighted- Weighted- Average Average Average Restricted Grant Date Restricted Grant Date Restricted Grant Date Shares Fair Value Shares Fair Value Shares Fair Value Unvested unrestricted stock awards at January 1, 112,958 $ 5.99 45,750 $ 6.70 - $ - Awards granted 67,600 5.53 84,900 5.75 45,750 6.70 Forfeitures (23,836 ) 5.69 (1,166 ) 6.70 - - Vestings (52,848 ) 6.02 (16,526 ) 6.70 - - Unvested unrestricted stock awards at December 31, 103,874 $ 5.74 112,958 $ 5.99 45,750 $ 6.70 |
Note 14 - Regulatory Matters_Su
Note 14 - Regulatory Matters/Subsequent Event | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | Note 14 . REGULATORY MATTERS /SUBSEQUENT EVENT The Bank was under a Consent Order from the OCC dated September 1, 2010. March 25, 2015, November 24, 2010. September 8, 2015, September 2, 2015, FNCB’s ability to pay dividends to its shareholders is largely dependent on the Bank’s ability to pay dividends to FNCB. Bank regulations limit the amount of dividends that may 2010 2015. 2016 $0.09 April 27, 2016, June 1, 2016. 78,752 December 31, 2016. December 31, 2016, January 25, 2017, $0.03 March 15, 2017 March 1, 2017. FNCB is subject to various regulatory capital requirements administered by the federal banking agencies. 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 adverse effect on FNCB’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, specific capital guidelines that involve quantitative measures of assets, liabilities, and certain off-balance sheet items as calculated under regulatory accounting practices must be met. Capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. In July 2013, The Regulatory Capital Rules were effective on January 1, 2014; January 1, 2015 January 1, 2019. ● a total capital ratio of 8.00% ● a Tier I risk-based capital ratio of 6.00% 4.00%); ● a new common equity Tier I risk-based capital ratio of 4.50%; ● a Tier I capital to average assets (“Tier I leverage ratio”) of 4.00% Under the Regulatory Capital Rules, in order to avoid limitations on capital distributions (including dividend payments and certain discretionary bonus payments to executive officers), a banking organization must hold a capital conservation buffer comprised of common equity Tier I capital above its minimum risk-based capital requirements in an amount greater than 2.5% January 1, 2016 0.625% January 1, 2019 2.50%. The Regulatory Capital Rules also implement revisions and clarifications consistent with Basel III regarding the various components of Tier I capital, including common equity, unrealized gains and losses, as well as certain instruments that will no longer qualify as Tier I capital, some of which will be phased out over time. Implementation of the deductions and other adjustments to common equity Tier I capital began on January 1, 2015, four 40% January 1, 2015, 60% January 1, 2016 20% December 31, 2016. The Regulatory Capital Rules also revise the prompt corrective action framework, which is designed to place restrictions on insured depository institutions, including the Bank, if their capital levels begin to show signs of weakness. These revisions took effect January 1, 2015. ● a total risk-based capital ratio of 10.00% ● a Tier I risk-based capital ratio of 8.00% 6.00%); ● a new common equity Tier I risk-based capital ratio of 6.50%; ● a Tier I leverage ratio of 5.00%. The Regulatory Capital Rules set forth certain changes for the calculation of risk-weighted assets, which were required to be utilized beginning January 1, 2015. one Current quantitative measures established by regulation to ensure capital adequacy require FNCB to maintain minimum amounts and ratios (set forth in the table below) of total capital, Tier I capital, and Tier I common equity (as defined in the regulations) to risk-weighted assets (as defined), and of Tier I capital (as defined) to average assets (as defined). The following tables present summary information regarding FNCB’s and the Bank’s risk-based capital and related ratios at December 31, 2016 2015: Company Bank Minimum Required For Capital Adequacy Purposes Minimum Required For Capital Adequacy Purposes with Conservation Buffer To Be Well Capitalized Under Prompt Corrective Action Regulations* (dollars in thousands) Amount Ratio Amount Ratio Ratio Ratio Ratio December 31, 2016 Total capital (to risk-weighted assets) $ 96,827 12.06 % $ 102,786 12.81 % 8.00 % 8.625 % 10.00 % Tier I capital (to risk-weighted assets) 82,159 10.23 % 94,118 11.73 % 6.00 % 6.625 % 8.00 % Tier I common equity (to risk-weighted assets) 80,049 9.97 % 94,118 11.73 % 4.50 % 5.125 % 6.50 % Tier I capital (to average assets) 82,159 7.53 % 94,118 8.63 % 4.00 % 4.000 % 5.00 % Total risk-weighted assets 803,026 802,610 Total average assets 1,090,665 1,090,550 Company Bank Minimum Required For Capital Adequacy Purposes Minimum Required For Capital Adequacy Purposes with Conservation Buffer To Be Well Capitalized Under Prompt Corrective Action Regulations* (dollars in thousands) Amount Ratio Amount Ratio Ratio Ratio Ratio December 31, 2015 Total capital (to risk-weighted assets) $ 93,835 11.79 % $ 110,039 13.83 % 8.00 % N/A 10.00 % Tier I capital (to risk-weighted assets) 74,945 9.42 % 100,949 12.69 % 6.00 % N/A 8.00 % Tier I common equity (to risk-weighted assets) 74,945 9.42 % 100,949 12.69 % 4.50 % N/A 6.50 % Tier I capital (to average assets) 74,945 7.27 % 100,949 9.79 % 4.00 % N/A 5.00 % Total risk-weighted assets 795,887 795,490 Total average assets 1,031,426 1,030,828 * Applies to the Bank only. |
Note 15 - Fair Value Measuremen
Note 15 - Fair Value Measurements | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 15 . FAIR VALUE MEASUREMENTS In determining fair value, FNCB uses various valuation approaches, including market, income and cost approaches. Accounting standards establish a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that observable inputs be used when available. Observable inputs are inputs that market participants would use in pricing the asset or liability, which are developed based on market data obtained from sources independent of FNCB. Unobservable inputs reflect FNCB’s knowledge about the assumptions the market participants would use in pricing an asset or liability, which are developed based on the best information available in the circumstances. The fair value hierarchy gives the highest priority to unadjusted quoted market prices in active markets for identical assets or liabilities (Level 1 3 three ● Level 1 ● Level 2 ● Level 3 A description of the valuation methodologies used for assets recorded at fair value, and for estimating fair value of financial instruments not recorded at fair value, is set forth below. Cash, Short-term Investments, Accrued Interest Receivable and Accrued Interest Payable For these short-term instruments, the carrying amount is a reasonable estimate of fair value. Securities The estimated fair values of available-for-sale equity securities are determined by obtaining quoted prices on nationally recognized exchanges (Level 1 2 may 2 2 2 For those securities for which the inputs used by an independent pricing service were derived from unobservable market information (Level 3 may may 3 third 3 December 31, 2016 2015. Loans Except for collateral-dependent impaired loans, fair values of loans are estimated by discounting the projected future cash flows using market discount rates that reflect the credit, liquidity, and interest rate risk inherent in the loan. Projected future cash flows are calculated based upon contractual maturity or call dates, projected repayments and prepayments of principal. The estimated fair value of collateral dependent impaired loans is based on the appraised loan value or other reasonable offers less estimated costs to sell. FNCB does not record loans at fair value on a recurring basis. However from time to time, a loan is considered impaired and an allowance for credit losses is established. The specific reserves for collateral dependent impaired loans are based on the fair value of the collateral less estimated costs to sell. The fair value of the collateral is generally based on appraisals. In some cases, adjustments are made to the appraised values due to various factors including age of the appraisal, age of comparables included in the appraisal, and known changes in the market and in the collateral. When significant adjustments are based on unobservable inputs, the resulting fair value measurement is categorized as a Level 3 Loans Held For Sale Fair values of mortgage loans held for sale are based on commitments on hand from investors or prevailing market prices. Mortgage Servicing Rights The fair value of mortgage servicing rights is estimated using a discounted cash flow model that applies current estimated prepayments derived from the mortgage-backed securities market and utilizes a current market discount rate for observable credit spreads. FNCB does not record mortgage servicing rights at fair value on a recurring basis. Restricted Stock Ownership in equity securities of FHLB of Pittsburgh and the FRB is restricted and there is no established market for their resale. The carrying amount is a reasonable estimate of fair value. At December 31, 2016, Deposits The fair value of demand deposits, savings deposits, and certain money market deposits is the amount payable on demand at the reporting date. The fair value of fixed-maturity certificates of deposit is estimated based on discounted cash flows using FHLB advance rates currently offered for similar remaining maturities. Borrowed F unds FNCB uses discounted cash flows using rates currently available for debt with similar terms and remaining maturities to estimate fair value. Commitments to Extend Credit and Standby L et ters of C redit The fair value of commitments to extend credit and standby letters of credit are estimated using the fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements and the present creditworthiness of the counterparties. For fixed-rate loan commitments, fair value also considers the difference between current levels of interest rates and the committed rates. The fair value of off-balance sheet commitments is insignificant and therefore not included in the table for non-recurring assets and liabilities. Assets Measured at Fair Value on a Recurring Basis The following tables present the financial assets that are measured at fair value on a recurring basis at December 31, 2016 2015, Fair Value Measurements at December 31, 2016 Quoted Prices Significant Significant in Active Markets Observable Unobservable for Identical Assets Inputs Inputs (in thousands) Fair Value (Level 1) (Level 2) (Level 3) Available-for-sale securities: Obligations of U.S. government agencies $ 12,188 $ - $ 12,188 $ - Obligations of state and political subdivisions 117,873 - 117,873 - U.S. government/government-sponsored agencies: Collateralized mortgage obligations - residential 18,084 - 18,084 - Collateralized mortgage obligations - commercial 99,350 - 99,350 - Residential mortgage-backed securities 20,576 - 20,576 - Corporate debt securities 453 - 453 - Negotiable certificates of deposit 3,216 - 3,216 - Equity securities 936 936 - - Total available-for-sale securities $ 272,676 $ 936 $ 271,740 $ - Fair Value Measurements at December 31, 2015 Quoted Prices Significant Significant in Active Markets Observable Unobservable for Identical Assets Inputs Inputs (in thousands) Fair Value (Level 1) (Level 2) (Level 3) Available-for-sale securities: Obligations of U.S. government agencies $ 44,043 $ - $ 44,043 $ - Obligations of state and political subdivisions 75,407 - 75,407 - U.S. government/government-sponsored agencies: Collateralized mortgage obligations - residential 22,269 - 22,269 - Collateralized mortgage obligations - commercial 89,423 - 89,423 - Residential mortgage-backed securities 18,098 - 18,098 - Corporate debt securities 423 - 423 - Negotiable certificates of deposit 3,162 - 3,162 - Equity securities 948 948 - - Total available-for-sale securities $ 253,773 $ 948 $ 252,825 $ - There were no December 31, 2016 2015. A ssets Measured at Fair Value on a Non-Recurring Basis The following tables present assets and liabilities measured at fair value on a non-recurring basis at December 31, 2016 2015, 3 December 31, 2016 Fair Value Measurement Quantitative Information Recorded Valuation Fair Valuation Unobservable Value/ (in thousands) Investment Allowance Value Technique Inputs Range Impaired loans - collateral dependent $ 482 $ 68 $ 414 Appraisal of collateral Selling costs 10.0 % Impaired loans - other 3,247 234 3,013 Discounted cash flows Discount rate 3.0% - 7.5 % Other real estate owned 1,949 - 1,949 Appraisal of collateral Selling costs 10.0 % December 31, 2015 Fair Value Measurement Quantitative Information Recorded Valuation Fair Valuation Unobservable Value/ (in thousands) Investment Allowance Value Technique Inputs Range Impaired loans - collateral dependent $ 718 $ 124 $ 594 Appraisal of collateral Selling costs 10.0 % Impaired loans - other 3,757 257 3,500 Discounted cash flows Discount rate 2.9% - 7.5 % Other real estate owned 3,104 - 3,104 Appraisal of collateral Selling costs 10.0 % The fair value of collateral-dependent impaired loans is determined through independent appraisals or other reasonable offers, which generally include various Level 3 may OREO properties are recorded at fair value less the estimated cost to sell at the date of FNCB’s acquisition of the property. Subsequent to acquisition of the property, the balance may may The following table summarizes the estimated fair values of FNCB’s financial instruments at December 31, 2016 2015. may Fair Value December 31, 2016 December 31, 2015 (in thousands) Measurement Carrying Value Fair Value Carrying Value Fair Value Financial assets Cash and short term investments Level 1 $ 112,445 $ 112,445 $ 21,083 $ 21,083 Securities available for sale See previous table 272,676 272,676 253,773 253,773 FHLB and FRB Stock Level 2 3,311 3,311 7,695 7,695 Loans held for sale Level 2 596 596 683 683 Loans, net Level 3 725,860 715,602 724,926 716,412 Accrued interest receivable Level 2 2,757 2,757 2,475 2,475 Mortgage servicing rights Level 3 215 744 240 880 Financial liabilities Deposits Level 2 1,015,139 968,904 821,546 798,466 Borrowed funds Level 2 78,847 78,923 160,112 160,266 Accrued interest payable Level 2 242 242 11,165 11,165 |
Note 16 - Earnings Per Share
Note 16 - Earnings Per Share | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | Note 16. EARNINGS PER SHARE For FNCB, the numerator of both the basic and diluted earnings per common share is net income available to common shareholders (which is equal to net income less dividends on preferred stock and related discount accretion). The weighted average number of common shares outstanding used in the denominator for basic earnings per common share is increased to determine the denominator used for diluted earnings per common share by the effect of potentially dilutive common share equivalents utilizing the treasury stock method. Common share equivalents are outstanding stock options to purchase FNCB’s common shares and unvested restricted stock. The following table presents the calculation of both basic and diluted earnings per common share for the years ended December 31, 2016, 2015 2014: For the Year Ended December 31, (in thousands, except share data) 2016 2015 2014 Net income $ 6,309 $ 35,840 $ 13,420 Basic weighted-average number of common shares outstanding 16,571,262 16,499,622 16,472,660 Plus: common share equivalents 1,433 - 211 Diluted weighted-average number of common shares outstanding 16,572,695 16,499,622 16,472,871 Income per common share: Basic $ 0.38 $ 2.17 $ 0.81 Diluted $ 0.38 $ 2.17 $ 0.81 For each of the years ended December 31, 2016, 2015 2014, 37,700 50,746 64,479 December 31, 2016, 2015 2014 December 31, 2016 |
Note 17 - Other Comprehensive I
Note 17 - Other Comprehensive Income (Loss) | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | Note 17 . O THER COMPREHENSIVE INCOME (LOSS) The following tables summarize the reclassifications out of accumulated other comprehensive income (loss), which is comprised entirely of unrealized gains and losses on available-for-sale securities, for each of the years ended December 31, 2016, 2015 2014: For the year Ended December 31, 2016 Amount Reclassified from Accumulated Affected Line Item Other Comprehensive in the Consolidated (in thousands) Income (Loss) Statements of Income Available-for-sale securities: Reclassification adjustment for net gains reclassified into net income $ (960 ) Net gain on sale of securities Taxes 326 Income tax expense (benefit) Net of tax amount $ (634 ) For the year Ended December 31, 2015 Amount Reclassified from Accumulated Affected Line Item Other Comprehensive in the Consolidated (in thousands) Income (Loss) Statements of Income Available-for-sale securities: Reclassification adjustment for net gains reclassified into net income $ (2,296 ) Net gain on sale of securities Taxes 781 Income tax expense (benefit) Net of tax amount $ (1,515 ) For the year Ended December 31, 2014 Amount Reclassified from Accumulated Affected Line Item Other Comprehensive in the Consolidated (in thousands) Income (Loss) Statements of Income Available-for-sale securities: Reclassification adjustment for net gains reclassified into net income $ (6,272 ) Net gain on sale of securities Taxes 2,132 Income tax expense (benefit) Net of tax amount $ (4,140 ) The following table summarizes the changes in accumulated other comprehensive (loss) income, net of tax for the years ended December 31, 2016, 2015 2014: For the Year Ended December 31, (in thousands) 2016 2015 2014 Balance, January 1, $ (238 ) $ 1,138 $ (3,092 ) Other comprehensive (loss) income before reclassifications (912 ) 139 8,370 Amounts reclassified from accumulated other comprehensive (loss) income (634 ) (1,515 ) (4,140 ) Net other comprehensive (loss) income during the period (1,546 ) (1,376 ) 4,230 Balance, December 31, $ (1,784 ) $ (238 ) $ 1,138 |
Note 18 - Condensed Financial I
Note 18 - Condensed Financial Information - Parent Company Only | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Condensed Financial Information of Parent Company Only Disclosure [Text Block] | Note 18 . CONDENSED FINANCIAL INFORMATION — PARENT COMPANY ONLY The following tables present condensed parent company only financial information: Condensed Statements of Financial Condition December 31, (in thousands) 2016 2015 Assets: Cash $ 567 $ 947 Investment in statutory trust 384 377 Investment in subsidiary (equity method) 112,106 122,182 Other assets 236 609 Total assets $ 113,293 $ 124,115 Liabilities and Shareholders’ Equity: Subordinated debentures $ 10,000 $ 14,000 Junior subordinated debentures 10,310 10,310 Accrued interest payable 52 10,902 Other liabilities 2,784 2,725 Total liabilities 23,146 37,937 Shareholders’ equity 90,147 86,178 Total liabilities and shareholders’ equity $ 113,293 $ 124,115 Condensed Statements of Income For the Year Ended December 31, (in thousands) 2016 2015 2014 Income: Dividends from subsidiaries $ 16,000 $ 12,500 $ 1,000 Income from trust 7 6 6 Other income - - 275 Total income 16,007 12,506 1,281 Expense: Interest on subordinated notes 625 1,450 2,281 Interest on junior subordinated debt 247 206 236 Other operating expenses 182 168 128 Other losses 115 114 276 Total expenses 1,169 1,938 2,921 Income (loss) before income taxes 14,838 10,568 (1,640 ) Provision (credit) for income taxes - - - Income (loss) before equity in undistributed net income of subsidiary 14,838 10,568 (1,640 ) Equity in undistributed net income of subsidiary (8,529 ) 25,272 15,060 Net income $ 6,309 $ 35,840 $ 13,420 Condensed Statements of Cash Flows For the Year Ended December 31, (in thousands) 2016 2015 2014 Cash flows from operating activities: Net income $ 6,309 $ 35,840 $ 13,420 Adjustments to reconcile net income to net cash provided by operating activities: Equity in undistributed loss (income) of subsidiary 8,529 (25,272 ) (15,060 ) Equity in trust (7 ) (6 ) (6 ) (Decrease) increase in accrued interest payable (10,850 ) 999 1,596 Decrease (increase) in other assets 639 (18 ) - Increase (decrease) in other liabilities 59 (58 ) 258 Net cash provided by operating activities 4,679 11,485 208 Cash flows from financing activities: Principal reduction on subordinated debentures (4,000 ) (11,000 ) - Proceeds from issuance of common shares 433 - - Cash dividends paid (1,492 ) - - Net cash used in financing activities (5,059 ) (11,000 ) - (Decrease) increase in cash (380 ) 485 208 Cash at beginning of year 947 462 254 Cash at end of year $ 567 $ 947 $ 462 |
Note 19 - Selected Quarterly Fi
Note 19 - Selected Quarterly Financial Data (Unaudited) | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Quarterly Financial Information [Text Block] | Note 19 . SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED) 2016 Quarter Ended (in thousands, except share data) March 31, June 30, September 30, December 31, Interest income $ 8,544 $ 8,663 $ 8,765 $ 8,776 Interest expense 1,006 1,050 1,085 1,056 Net interest income 7,538 7,613 7,680 7,720 Provision (credit) for loan and lease losses 696 396 (234 ) 295 Net interest income after provision (credit) for loan and lease losses 6,842 7,217 7,914 7,425 Non-interest income 1,331 2,094 1,380 1,398 Non-interest expense 6,804 7,025 6,553 7,163 Income before income taxes 1,369 2,286 2,741 1,660 Income tax expense 226 661 724 136 Net income $ 1,143 $ 1,625 $ 2,017 $ 1,524 Earnings per share: Basic $ 0.07 $ 0.10 $ 0.12 $ 0.09 Diluted $ 0.07 $ 0.10 $ 0.12 $ 0.09 2015 Quarter Ended (in thousands, except share data) March 31, June 30, September 30, December 31, Interest income $ 7,697 $ 7,699 $ 8,199 $ 8,606 Interest expense 1,415 1,378 1,017 991 Net interest income 6,282 6,321 7,182 7,615 (Credit) provision for loan and lease losses (494 ) 345 (191 ) (1,005 ) Net interest income after (credit) provision for loan and lease losses 6,776 5,976 7,373 8,620 Non-interest income 3,419 1,545 1,379 1,457 Non-interest expense 6,782 6,680 6,415 8,587 Income before income taxes 3,413 841 2,337 1,490 Income tax (benefit) expense (62 ) 22 - (27,719 ) Net income $ 3,475 $ 819 $ 2,337 $ 29,209 Earnings per share: Basic $ 0.21 $ 0.05 $ 0.14 $ 1.77 Diluted $ 0.21 $ 0.05 $ 0.14 $ 1.77 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation The consolidated financial statements of FNCB include the accounts of FNCB Bancorp, Inc., the Bank, and the Bank’s wholly-owned subsidiaries. All inter-company transactions and balances have been eliminated in consolidation. The accounting and reporting policies of FNCB conform to accounting principles generally accepted in the United States of America (“GAAP”), Regulation S-X and general practices within the banking industry. Prior period amounts are reclassified when necessary to conform to the current year’s presentation. Such reclassifications had no effect on FNCB’s financial condition or results of operations. The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ significantly from these estimates. Material estimates that are particularly susceptible to change in the near term are the allowance for loan and lease losses, securities’ valuation and impairment evaluation, the valuation of other real estate owned, and income taxes. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash Equivalents For purposes of reporting cash flows, cash equivalents include cash on hand and amounts due from banks. |
Marketable Securities, Policy [Policy Text Block] | Securities FNCB classifies investment securities as either held-to-maturity or available-for-sale at the time of purchase. Investment securities that are classified as held-to-maturity are carried at amortized cost when management has the positive intent and ability to hold them to maturity. Investment securities that are classified as available-for-sale are carried at fair value with unrealized holding gains and losses recognized as a component of shareholders’ equity in accumulated other comprehensive loss, net of tax. Premiums and discounts are amortized or accreted over the life of the related security as an adjustment to yield using the interest method. Realized gains and losses on sales of investment securities are based on amortized cost using the specific identification method on the trade date. On a quarterly basis, management evaluates each of its investment securities classified as held-to-maturity or available-for-sale in an unrealized loss position for other than temporary impairment (“OTTI”). An individual security is considered impaired when its current fair value is less than its amortized cost basis. As part of the OTTI evaluation, management considers the following factors in determining whether the security’s impairment is other than temporary: ● the length of time and extent of the impairment; ● the causes of the decline in fair value, such as credit deterioration, interest rate fluctuations, or market volatility; ● adverse industry or geographic conditions; ● historical implied volatility; ● payment structure of the security and whether FNCB expects to receive all contractual cash flows; ● failure of the issuer to make contractual interest or principal payments in the past; ● changes in the security’s rating; and ● recoveries or additional declines in the security’s fair value subsequent to the balance sheet date. Based on current authoritative guidance, when a held-to-maturity or available-for-sale debt security is assessed for OTTI, management must first one two For equity securities, FNCB evaluates whether or not the unrealized loss is expected to be recovered based on evidence to support a realizable value equal to or greater than the amortized cost basis. If it is probable that the amortized cost basis will not be recovered, taking into consideration the estimated recovery period and ability of FNCB to hold the security until recovery, the entire difference between the security’s cost basis and its fair value is recognized in earnings at the balance sheet date. Investments in the Federal Reserve Bank and Federal Home Loan Bank stock have limited marketability, are carried at cost and are evaluated for impairment based on FNCB’s determination of the ultimate recoverability of the par value of the stock. During the year ended December 31, 2016, $1.3 $1.3 December 31, 2015. |
Finance, Loans and Leases Receivable, Policy [Policy Text Block] | Loans and Loan Origination Fees and Costs Loans receivable, other than loans held for sale, are stated at the principal outstanding, net of unamortized loan fees and costs, unearned income, partial charge-offs and the allowance for loan and lease losses. Interest income on all loans is recognized using the effective interest method. Loan origination and commitment fees, as well as certain direct loan origination costs, are deferred and the net amount is amortized as an adjustment of the related loan’s yield. FNCB generally amortizes these amounts over the life of the related loan. Amortization of deferred loan fees or costs is discontinued when a loan is placed on non-accrual status. Loans are placed on non-accrual status when a loan is specifically determined to be impaired or when management believes that the collection of interest or principal is doubtful. This is generally when a default of interest or principal has existed for 90 90 first six In accordance with federal regulations, prior to making, extending, renewing or advancing additional funds in excess of $250 third may |
Loans and Leases Receivable, Troubled Debt Restructuring Policy [Policy Text Block] | Troubled Debt Restructurings FNCB considers a loan to be a troubled debt restructuring (“TDR”) when it grants a concession to the borrower for legal or economic reasons related to the borrower’s financial difficulties that it would not otherwise consider. Such concessions granted generally involve a reduction of the stated interest rate, an extension of a loan’s maturity date, capitalization of real estate taxes, or a permanent reduction of the recorded investment in the loan. A non-accrual TDR is returned to accrual status when principal and interest payments under the modified terms are current, the TDR is performing under the modified terms for six |
Impaired Financing Receivable, Policy [Policy Text Block] | Loan Impairment A loan is considered impaired when it is probable that FNCB will be unable to collect all amounts due (including principal and interest) according to the contractual terms of the note and loan agreement. For purposes of management’s analysis, TDRs, loans rated substandard and on non-accrual status with an aggregate loan relationship greater than $100 may Generally, all loans with balances of $100 $100 Impaired loans, or portions thereof, are charged-off upon determination that all or a portion of the loan balance is uncollectible and exceeds the fair value of the collateral. A loan is considered uncollectible when the borrower is delinquent with respect to principal or interest repayment and it is unlikely that the borrower will have the ability to pay the debt in a timely manner, collateral value is insufficient to cover the outstanding indebtedness and the guarantors (if applicable) do not provide adequate support for the loan. |
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block] | Allowance for Loan and Lease Losses Management evaluates the credit quality of FNCB’s loan portfolio on an ongoing basis, and performs a formal review of the adequacy of the allowance for loan and lease losses (“ALLL”) on a quarterly basis. The ALLL is established through a provision for loan and lease losses charged to earnings and is maintained at a level management considers adequate to absorb estimated probable losses inherent in the loan portfolio as of the evaluation date. Loans, or portions of loans, determined by management to be uncollectible are charged off against the ALLL, while recoveries of amounts previously charged off are credited to the ALLL. Determining the amount of the ALLL is considered a critical accounting estimate because it requires significant judgment and the use of estimates related to the amount and timing of expected future cash flows on impaired loans, estimated losses on pools of homogeneous loans based on historical loss experience, qualitative factors, and consideration of current economic trends and conditions, all of which may may The ALLL consists of two $100 may When establishing the ALLL, management categorizes loans into the following loan segments that are based generally on the nature of the collateral and basis of repayment. The risk characteristics of FNCB’s loan segments are as follows: Construction, L and A cquisition and D evelopment L oans one four 65%. 80% Commercial Real Estate Loans 20 80%. Commercial and Industrial Loans - may State and Political Subdivision Loans Residential Real Estate Loans one four first 80% 80% may Consumer Loans 90% 15 |
Liability for off balance sheet Credit related Financial Instruments, Policy [Policy Text Block] | Off-Balance-Sheet Credit-Related Financial Instruments FNCB is a party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing need of its customers. These financial instruments include commitments to extend credit, unused portions of lines of credit, including revolving HELOCs, and letters of credit. FNCB’s exposure to credit loss in the event of nonperformance by the other party to the financial instrument is represented by the contractual notional amount of these instruments. FNCB uses the same credit policies in making these commitments as it does for on-balance sheet instruments. In order to provide for probable losses inherent in these instruments, FNCB records a reserve for unfunded commitments, included in other liabilities on the consolidated statements of financial condition, with the offsetting expense recorded in other operating expenses in the consolidated statements of income. |
Loans and Leases Receivable, Mortgage Banking Activities, Policy [Policy Text Block] | Mortgage Banking Activities and Loan Servicing Mortgage loans originated and intended for sale are carried at the lower of aggregate cost or fair value determined on an individual loan basis. Net unrealized losses are recorded as a valuation allowance and charged to earnings. Gains and losses on sales of mortgage loans are based on the difference between the selling price and the carrying value of the related loan sold and include the value assigned to the rights to service the loan. In addition, during the year ended December 31, 2016, three $1.3 no December 31, 2015 2014. Servicing rights are recorded at fair value upon sale of the loan and reported in other assets on the consolidated statements of financial condition. Servicing rights are amortized in proportion to and over the period during which estimated servicing income will be received. Fair value is based on market prices for comparable servicing contracts, when available, or alternately, is based on a valuation model that calculates the present value of estimated future net servicing income. The valuation model incorporates assumptions that market participants would use in estimating future net servicing income, such as the cost to service, the discount rate, the custodial earnings rate, an inflation rate, ancillary income, prepayment speeds and default rates and losses. Servicing rights are evaluated for impairment at each reporting date based upon the fair value of the rights as compared to amortized cost. Impairment is determined by stratifying rights into tranches based on predominant risk characteristics, such as interest rate, loan type and investor type. Impairment is recognized through a valuation allowance for an individual tranche, to the extent that fair value is less than the capitalized amount for the tranche. If management later determines that all or a portion of the impairment no longer exists for a particular tranche, a reduction of the allowance may |
Other Real Estate Owned, Policy [Policy Text Block] | Other Real Estate Owned Other real estate owned (“OREO”) consists of property acquired by foreclosure, abandonment or conveyance of deed in-lieu of foreclosure of a loan, and bank premises that are no longer used for operations or for future expansion. OREO is held for sale and is initially recorded at fair value less costs to sell at the date of acquisition or transfer, which establishes a new cost basis. Upon acquisition of a property through foreclosure or deed in-lieu of foreclosure, any write-down to fair value less estimated selling costs is charged to the ALLL. The determination is made on an individual asset basis. Bank premises no longer used for operations or future expansion is transferred to OREO at fair value less estimated selling costs with any related write-down included in non-interest expense. Subsequent to acquisition or transfer, valuations of properties are periodically performed by management and the assets are carried at the lower of cost basis or fair value less estimated cost to sell. Any subsequent reduction in value of an OREO property is recognized by a write-down included in non-interest expense. Fair value is determined through external appraisals, current letters of intent, broker price opinions or executed agreements of sale. Costs relating to the development and improvement of the OREO properties may |
Property, Plant and Equipment, Policy [Policy Text Block] | Bank Premises and Equipment Land is stated at cost. Bank premises, equipment and leasehold improvements are stated at cost less accumulated depreciation. Costs for routine maintenance and repair are expensed as incurred, while significant expenditures for improvements are capitalized. Depreciation expense is computed generally using the straight-line method over the following ranges of estimated useful lives, or in the case of leasehold improvements, to the expected terms of the leases, if shorter: Buildings and improvements (years) 10 to 40 Furniture, fixtures and equipment (years) 3 to 15 Leasehold improvements (years) 2 to 39 |
Goodwill and Intangible Assets, Policy [Policy Text Block] | Intangible Assets Intangible assets consisted entirely of a core deposit intangible which arose in connection with the acquisition of FNCB’s Honesdale branch. The core deposit intangible was amortized over an estimated useful life of 10 $137 December 31, 2015 December 31, 2016, |
Impairment or Disposal of Long-Lived Assets, Including Intangible Assets, Policy [Policy Text Block] | Long-lived Assets Intangible assets and bank premises and equipment are reviewed by management at least annually for potential impairment and whenever events or circumstances indicate that carrying amounts may |
Income Tax, Policy [Policy Text Block] | Income Taxes FNCB recognizes income taxes under the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more-likely-than-not that all or some portion of the deferred tax assets will not be realized. FNCB files a consolidated Federal income tax return. Under tax sharing agreements, each subsidiary provides for and settles income taxes with FNCB as if it would have filed on a separate return basis. Interest and penalties, if any, as a result of a taxing authority examination are recognized within non-interest expense. FNCB is not currently subject to an audit by any of its tax authorities and with limited exception is no longer subject to federal and state income tax examinations by taxing authorities for years before 2013. When tax returns are filed, it is highly certain that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the position taken or the amount of the position that would be ultimately sustained. The benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more-likely-than-not that the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. Tax positions taken are not offset or aggregated with other positions. Tax positions that meet the more-likely-than-not recognition threshold are measured as the largest amount of tax benefit that is more than 50% December 31, 2016 2015. |
Earnings Per Share, Policy [Policy Text Block] | Earnings per Share Earnings per share is calculated on the basis of the weighted-average number of common shares outstanding during the year. Basic earnings per share excludes dilution and is computed by dividing net income available to common shareholders by the weighted-average common shares outstanding during the period. Diluted earnings per share reflect additional shares that would have been outstanding if dilutive potential common shares had been issued. Potential common shares that may |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | Stock-Based Compensation FNCB is required to measure and record compensation expense for stock-based payments based on the instrument’s fair value on the date of the grant. The fair value of each option grant is estimated on the date of grant using the Black-Scholes option-pricing model. The fair value of shares of restricted stock awarded under the Long Term Incentive Compensation Plan (“LTIP”) is determined using an average of the high and low prices for FNCB’s common stock for the 10 |
Bank Owned Life Insurance, Policy [Policy Text Block] | Bank-Owned Life Insurance Bank-owned life insurance (“BOLI”) represents the cash surrender value of life insurance policies on certain current and former directors and officers of FNCB. FNCB purchased the insurance as a tax-deferred investment and future source of funding for liabilities, including the payment of employee benefits such as health care. BOLI is carried in the consolidated statements of financial condition at its cash surrender value. Increases in the cash value of the policies, as well as proceeds received, are recorded in non-interest income. Under some of these policies, the beneficiaries receive a portion of the death benefit. The net present value of the future death benefits scheduled to be paid to the beneficiaries was $105 $101 December 31, 2016 2015, |
Fair Value Measurement, Policy [Policy Text Block] | Fair Value Measurement FNCB uses fair value measurements to record fair value adjustments to certain financial assets and liabilities and to determine fair value disclosures. Available-for-sale securities are recorded at fair value on a recurring basis. Additionally, from time to time, FNCB may Fair value is the price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market in an orderly transaction between market participants at the measurement date. An orderly transaction is a transaction that assumes exposure to the market for a period prior to the measurement date to allow for marketing activities that are usual and customary for transactions involving such assets or liabilities: it is not a forced transaction. Accounting standards define fair value, establish a framework for measuring fair value, establish a three The three ● Level 1 ● Level 2 ● Level 3 |
Comprehensive Income, Policy [Policy Text Block] | Comprehensive Income Accounting principles generally require that recognized revenue, expenses, gains and losses be included in net income. Although certain changes in assets and liabilities, such as unrealized gains and losses on available-for-sale securities, are reported as a separate component of the shareholders’ equity section of the statement of financial condition, such items, along with net income, are components of comprehensive income. |
New Accounting Pronouncements, Policy [Policy Text Block] | New Authoritative Accounting Guidanc e ASU 2014 12, 718): 2014 12 December 15, 2015. January 1, 2016 |
Accounting Guidance to Be Adopted in Future Periods, Policy [Policy Text Block] | Accounting Guidance to be Adopted in Future Periods ASU 2014 09, 606): 606) 340 40);” 2014 09 2014 09 2014 09 December 15, 2016 August 12, 2015, 2015 14, 606): 2014 09 one January 1, 2018. January 1, 2018. 2014 09. ASU 2016 01, 825 10): 2016 01 December 15, 2017 January 1, 2018 ASU 2016 02, 842): 12 2016 02 2016 02 December 15, 2018 January 1, 2019, may ASU 2016 09, 718): 2016 09 December 15, 2016 January 1, 2017 ASU 2016 13, 326): June 17, 2016, four 2016 13 2016 13, 2016 13 December 15, 2019, may December 15, 2018, January 1, 2020. (1) 2016 13; (2) (3) may (4) may (5) may ASU 2016 15, 230): eight zero 2016 15 December 15, 2017, 2016 15 320, January 1, 2018 |
Note 2 - Summary of Significa29
Note 2 - Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Property, Plant and Equipment Useful Life [Table Text Block] | Buildings and improvements (years) 10 to 40 Furniture, fixtures and equipment (years) 3 to 15 Leasehold improvements (years) 2 to 39 |
Note 4 - Securities (Tables)
Note 4 - Securities (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | December 31, 2016 Gross Gross Unrealized Unrealized Amortized Holding Holding Fair (in thousands) Cost Gains Losses Value Available-for-sale: Obligations of U.S. government agencies $ 12,152 $ 36 $ - $ 12,188 Obligations of state and political subdivisions 119,919 257 2,303 117,873 U.S. government/government-sponsored agencies: Collateralized mortgage obligations - residential 17,969 155 40 18,084 Collateralized mortgage obligations - commercial 100,064 154 868 99,350 Mortgage-backed securities 20,593 159 176 20,576 Corporate debt securities 500 - 47 453 Negotiable certificates of deposit 3,172 44 - 3,216 Equity securities 1,010 - 74 936 Total available-for-sale securities $ 275,379 $ 805 $ 3,508 $ 272,676 December 31, 2015 Gross Gross Unrealized Unrealized Amortized Holding Holding Fair (in thousands) Cost Gains Losses Value Available-for-sale: Obligations of U.S. government agencies $ 43,787 $ 256 $ - $ 44,043 Obligations of state and political subdivisions 75,401 428 422 75,407 U.S. government/government-sponsored agencies: Collateralized mortgage obligations - residential 22,162 116 9 22,269 Collateralized mortgage obligations - commercial 89,900 124 601 89,423 Mortgage-backed securities 18,201 58 161 18,098 Corporate debt securities 500 - 77 423 Negotiable certificates of deposit 3,173 - 11 3,162 Equity securities 1,010 - 62 948 Total available-for-sale securities $ 254,134 $ 982 $ 1,343 $ 253,773 |
Investments Classified by Contractual Maturity Date [Table Text Block] | December 31, 2016 Available-for-Sale Amortized Fair (in thousands) Cost Value Amounts maturing in: One year or less $ 248 $ 249 One year through five years 29,647 29,649 After five years through ten years 100,177 98,217 After ten years 5,671 5,615 Collateralized mortgage obligations 118,033 117,434 Mortgage-backed securities 20,593 20,576 Total $ 274,369 $ 271,740 |
Gain (Loss) on Investments [Table Text Block] | Year Ended December 31, (in thousands) 2016 2015 2014 Available-for-sale: Gross proceeds received $ 32,588 $ 88,658 $ 111,243 Gross realized gains 960 2,325 6,272 Gross realized losses - (29 ) - Held-to-maturity: Gross proceeds received $ - $ - $ 2,686 Gross realized gains - - 368 Gross realized losses - - - |
Schedule of Unrealized Loss on Investments [Table Text Block] | December 31, 2016 Less than 12 Months 12 Months or Greater Total Number Gross Number Gross Number Gross of Fair Unrealized of Fair Unrealized of Fair Unrealized (dollars in thousands) Securities Value Losses Securities Value Losses Securities Value Losses Obligations of U.S. government agencies - $ - $ - - $ - $ - - $ - $ - Obligations of state and policitical subdivisions 82 88,479 2,303 - - - 82 88,479 2,303 U.S. government/government-sponsored agencies: Collateralized mortgage obligations - residential 2 4,514 40 1 175 - 3 4,689 40 Collateralized mortgage obligations - commercial 17 70,146 868 - - - 17 70,146 868 Mortgage-backed securities 5 6,495 176 - - - 5 6,495 176 Corporate debt securities - - - 1 453 47 1 453 47 Negotiable certificates of deposit - - - - - - - - - Equity Securities - - - 1 926 74 1 926 74 Total 106 $ 169,634 $ 3,387 3 $ 1,554 $ 121 109 $ 171,188 $ 3,508 December 31, 2015 Less than 12 Months 12 Months or Greater Total Number Gross Number Gross Number Gross of Fair Unrealized of Fair Unrealized of Fair Unrealized (dollars in thousands) Securities Value Losses Securities Value Losses Securities Value Losses Obligations of U.S. government agencies - $ - $ - - $ - $ - - $ - $ - Obligations of state and policitical subdivisions 31 33,022 419 1 264 3 32 33,286 422 U.S. government/government-sponsored agencies: Collateralized mortgage obligations - residential 4 5,738 9 - - - 4 5,738 9 Collateralized mortgage obligations - commercial 16 67,969 601 - - - 16 67,969 601 Mortgage-backed securities 7 16,779 161 - - - 7 16,779 161 Corporate debt securities - - - 1 423 77 1 423 77 Negotiable certificates of deposit 12 2,913 11 - - - 12 2,913 11 Equity Securities - - - 1 938 62 1 938 62 Total 70 $ 126,421 $ 1,201 3 $ 1,625 $ 142 73 $ 128,046 $ 1,343 |
Note 5 - Loans (Tables)
Note 5 - Loans (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | December 31, (in thousands) 2016 2015 Residential real estate $ 144,260 $ 130,696 Commercial real estate 243,830 245,198 Construction, land acquisition and development 18,357 30,843 Commercial and industrial 153,758 149,826 Consumer 127,844 128,533 State and political subdivisions 43,709 46,056 Total loans, gross 731,758 731,152 Unearned income (48 ) (98 ) Net deferred loan costs 2,569 2,662 Allowance for loan and lease losses (8,419 ) (8,790 ) Loans, net $ 725,860 $ 724,926 |
Allowance for Credit Losses on Financing Receivables [Table Text Block] | Allowance for Loan and Lease Losses by Loan Category December 31, 2016 Real Estate (in thousands) Residential Real Estate Commercial Real Estate Construction, Land Acquisition and Development Commercial and Industrial Consumer State and Political Subdivisions Unallocated Total Allowance for loan losses: Beginning balance, January 1, 2016 $ 1,333 $ 3,346 $ 853 $ 1,205 $ 1,494 $ 485 $ 74 $ 8,790 Charge-offs (153 ) (398 ) - (1,107 ) (960 ) - - (2,618 ) Recoveries 4 6 9 507 568 - - 1,094 Provisions (credits) (13 ) 343 (594 ) 1,131 355 5 (74 ) 1,153 Ending balance, December 31, 2016 $ 1,171 $ 3,297 $ 268 $ 1,736 $ 1,457 $ 490 $ - $ 8,419 Ending balance, December 31, 2016: Specific reserve $ 29 $ 254 $ - $ 18 $ 1 $ - $ - $ 302 Ending balance, December 31, 2016: General reserve $ 1,142 $ 3,043 $ 268 $ 1,718 $ 1,456 $ 490 $ - $ 8,117 Loans receivable: Ending balance, December 31, 2016 $ 144,260 $ 243,830 $ 18,357 $ 153,758 $ 127,844 $ 43,709 $ - $ 731,758 Ending balance, December 31, 2016: Individually evaluated for impairment $ 1,929 $ 2,937 $ 350 $ 91 $ 297 $ - $ - $ 5,604 Ending balance, December 31, 2016: Collectively evaluated for impairment $ 142,331 $ 240,893 $ 18,007 $ 153,667 $ 127,547 $ 43,709 $ - $ 726,154 Allowance for Loan and Lease Losses by Loan Category December 31, 2015 Real Estate (in thousands) Residential Real Estate Commercial Real Estate Construction, Land Acquisition and Development Commercial and Industrial Consumer State and Political Subdivisions Unallocated Total Allowance for loan losses: Beginning balance, January 1, 2015 $ 1,772 $ 4,663 $ 665 $ 2,104 $ 1,673 $ 598 $ 45 $ 11,520 Charge-offs (139 ) (912 ) (688 ) (180 ) (716 ) - - (2,635 ) Recoveries 58 307 - 400 485 - - 1,250 Provisions (credits) (358 ) (712 ) 876 (1,119 ) 52 (113 ) 29 (1,345 ) Ending balance, December 31, 2015 $ 1,333 $ 3,346 $ 853 $ 1,205 $ 1,494 $ 485 $ 74 $ 8,790 Ending balance, December 31, 2015: Specific reserve $ 92 $ 287 $ 1 $ - $ 1 $ - $ - $ 381 Ending balance, December 31, 2015: General reserve $ 1,241 $ 3,059 $ 852 $ 1,205 $ 1,493 $ 485 $ 74 $ 8,409 Loans receivable: Ending balance, December 31, 2015 $ 130,696 $ 245,198 $ 30,843 $ 149,826 $ 128,533 $ 46,056 $ - $ 731,152 Ending balance, December 31, 2015: Individually evaluated for impairment $ 2,930 $ 3,831 $ 646 $ 203 $ 351 $ - $ - $ 7,961 Ending balance, December 31, 2015: Collectively evaluated for impairment $ 127,766 $ 241,367 $ 30,197 $ 149,623 $ 128,182 $ 46,056 $ - $ 723,191 Allowance for Loan and Lease Losses by Loan Category December 31, 2014 Real Estate (in thousands) Residential Real Estate Commercial Real Estate Construction, Land Acquisition and Development Commercial and Industrial Consumer State and Political Subdivisions Unallocated Total Allowance for loan losses: Beginning balance, January 1, 2014 $ 2,287 $ 6,017 $ 924 $ 2,321 $ 1,789 $ 679 $ - $ 14,017 Charge-offs (204 ) - (45 ) (217 ) (922 ) - - (1,388 ) Recoveries 90 362 3,538 262 508 - - 4,760 Provisions (credits) (401 ) (1,716 ) (3,752 ) (262 ) 298 (81 ) 45 (5,869 ) Ending balance, December 31, 2014 $ 1,772 $ 4,663 $ 665 $ 2,104 $ 1,673 $ 598 $ 45 $ 11,520 Ending balance, December 31, 2014: Specific reserve $ 51 $ 331 $ 1 $ - $ 1 $ - $ - $ 384 Ending balance, December 31, 2014: General reserve $ 1,721 $ 4,332 $ 664 $ 2,104 $ 1,672 $ 598 $ 45 $ 11,136 Loans receivable: Ending balance, December 31, 2014 $ 122,832 $ 233,473 $ 18,835 $ 132,057 $ 122,092 $ 40,205 $ - $ 669,494 Ending balance, December 31, 2014: Individually evaluated for impairment $ 2,487 $ 6,660 $ 256 $ 32 $ 361 $ - $ - $ 9,796 Ending balance, December 31, 2014: Collectively evaluated for impairment $ 120,345 $ 226,813 $ 18,579 $ 132,025 $ 121,731 $ 40,205 $ - $ 659,698 |
Financing Receivable Credit Quality Indicators [Table Text Block] | Credit Quality Indicators December 31, 2016 Commercial Loans Other Loans Special Subtotal Accruing Non-accrual Subtotal Total Pass Mention Substandard Doubtful Loss Commercial Loans Loans Other Loans Residential real estate $ 25,506 $ 394 $ 466 $ - $ - $ 26,366 $ 117,286 $ 608 $ 117,894 $ 144,260 Commercial real estate 233,523 4,911 5,396 - - 243,830 - - - 243,830 Construction, land acquisition and development 14,101 346 448 - - 14,895 3,462 - 3,462 18,357 Commercial and industrial 145,794 2,794 1,128 - - 149,716 4,042 - 4,042 153,758 Consumer 2,699 - 37 - - 2,736 124,935 173 125,108 127,844 State and political subdivisions 40,424 2,964 321 - - 43,709 - - - 43,709 Total $ 462,047 $ 11,409 $ 7,796 $ - $ - $ 481,252 $ 249,725 $ 781 $ 250,506 $ 731,758 Credit Quality Indicators December 31, 2015 Commercial Loans Other Loans Special Subtotal Accruing Non-accrual Subtotal Total Pass Mention Substandard Doubtful Loss Commercial Loans Loans Other Loans Residential real estate $ 21,018 $ 449 $ 984 $ - $ - $ 22,451 $ 107,204 $ 1,041 $ 108,245 $ 130,696 Commercial real estate 225,850 11,356 7,992 - - 245,198 - - - 245,198 Construction, land acquisition and development 23,946 358 5,137 - - 29,441 1,402 - 1,402 30,843 Commercial and industrial 142,242 595 2,209 - - 145,046 4,775 5 4,780 149,826 Consumer 2,747 9 39 - - 2,795 125,392 346 125,738 128,533 State and political subdivisions 45,464 120 472 - - 46,056 - - - 46,056 Total $ 461,267 $ 12,887 $ 16,833 $ - $ - $ 490,987 $ 238,773 $ 1,392 $ 240,165 $ 731,152 |
Past Due Financing Receivables [Table Text Block] | December 31, 2016 Delinquency Status 0-29 Days 30-59 Days 60-89 Days >/= 90 Days (in thousands) Past Due Past Due Past Due Past Due Total Performing (accruing) loans: Real estate: Residential real estate $ 143,142 $ 229 $ 107 $ - $ 143,478 Commercial real estate 241,477 830 553 - 242,860 Construction, land acquisition and development 17,766 346 - - 18,112 Total real estate 402,385 1,405 660 - 404,450 Commercial and industrial 153,378 307 9 - 153,694 Consumer 126,341 1,030 300 - 127,671 State and political subdivisions 43,709 - - - 43,709 Total performing (accruing) loans 725,813 2,742 969 - 729,524 Non-accrual loans: Real estate: Residential real estate 176 202 17 387 782 Commercial real estate 201 23 - 746 970 Construction, land acquisition and development - 245 - - 245 Total real estate 377 470 17 1,133 1,997 Commercial and industrial - - - 64 64 Consumer 56 25 2 90 173 State and political subdivisions - - - - - Total non-accrual loans 433 495 19 1,287 2,234 Total loans receivable $ 726,246 $ 3,237 $ 988 $ 1,287 $ 731,758 December 31, 2015 Delinquency Status 0-29 Days 30-59 Days 60-89 Days >/= 90 Days (in thousands) Past Due Past Due Past Due Past Due Total Performing (accruing) loans: Real estate: Residential real estate $ 129,206 $ 51 $ 225 $ - $ 129,482 Commercial real estate 243,168 53 286 - 243,507 Construction, land acquisition and development 30,475 26 - - 30,501 Total real estate 402,849 130 511 - 403,490 Commercial and industrial 149,329 236 66 - 149,631 Consumer 126,760 994 433 - 128,187 State and political subdivisions 46,056 - - - 46,056 Total peforming (accruing) loans 724,994 1,360 1,010 - 727,364 Non-accrual loans: Real estate: Residential real estate 923 99 44 148 1,214 Commercial real estate 1,576 - 115 - 1,691 Construction, land acquisition and development 342 - - - 342 Total real estate 2,841 99 159 148 3,247 Commercial and industrial 98 - - 97 195 Consumer 69 21 3 253 346 State and political subdivisions - - - - - Total non-accrual loans 3,008 120 162 498 3,788 Total loans receivable $ 728,002 $ 1,480 $ 1,172 $ 498 $ 731,152 |
Impaired Financing Receivables [Table Text Block] | December 31, 2016 (in thousands) Recorded Investment Unpaid Principal Balance Related Allowance With no allowance recorded: Real estate: Residential real estate $ 386 $ 477 $ - Commercial real estate 1,066 1,143 - Construction, land acquisition and development 350 766 - Total real estate 1,802 2,386 - Commercial and industrial 73 105 - Consumer - - - State and political subdivisions - - - Total impaired loans with no related allowance recorded 1,875 2,491 - With a related allowance recorded: Real estate: Residential real estate 1,543 1,543 29 Commercial real estate 1,871 1,871 254 Construction, land acquisition and development - - - Total real estate 3,414 3,414 283 Commercial and industrial 18 18 18 Consumer 297 297 1 State and political subdivisions - - - Total impaired loans with a related allowance recorded 3,729 3,729 302 Total of impaired loans Real estate: Residential real estate 1,929 2,020 29 Commercial real estate 2,937 3,014 254 Construction, land acquisition and development 350 766 - Total real estate 5,216 5,800 283 Commercial and industrial 91 123 18 Consumer 297 297 1 State and political subdivisions - - - Total impaired loans $ 5,604 $ 6,220 $ 302 December 31, 2015 (in thousands) Recorded Investment Unpaid Principal Balance Related Allowance With no allowance recorded: Real estate: Residential real estate $ 1,042 $ 1,138 $ - Commercial real estate 1,850 2,868 - Construction, land acquisition and development 470 844 - Total real estate 3,362 4,850 - Commercial and industrial 124 156 - Consumer - - - State and political subdivisions - - - Total impaired loans with no related allowance recorded 3,486 5,006 - With a related allowance recorded: Real estate: Residential real estate 1,888 1,888 92 Commercial real estate 1,981 1,981 287 Construction, land acquisition and development 176 176 1 Total real estate 4,045 4,045 380 Commercial and industrial 79 79 - Consumer 351 351 1 State and political subdivisions - - - Total impaired loans with a related allowance recorded 4,475 4,475 381 Total of impaired loans Real estate: Residential real estate 2,930 3,026 92 Commercial real estate 3,831 4,849 287 Construction, land acquisition and development 646 1,020 1 Total real estate 7,407 8,895 380 Commercial and industrial 203 235 - Consumer 351 351 1 State and political subdivisions - - - Total impaired loans $ 7,961 $ 9,481 $ 381 |
Schedule of Average Balance and Interest Income on Impaired Loans [Table Text Block] | Year Ended December 31, 2016 2015 2014 (in thousands) Average Balance Interest Income (1) Average Balance Interest Income (1) Average Balance Interest Income (1) Real estate: Residential real estate $ 2,428 $ 91 $ 3,157 $ 121 $ 2,226 $ 91 Commercial real estate 3,489 92 6,830 106 6,616 118 Construction, land acquisition and development 428 7 570 18 284 15 Total real estate 6,345 190 10,557 245 9,126 224 Commercial and industrial 283 2 174 2 76 - Consumer 300 10 356 11 343 11 State and political subdivisions - - - - - - Total impaired loans $ 6,928 $ 202 $ 11,087 $ 258 $ 9,545 $ 235 |
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | For the Year Ended December 31, 2016 For the Year Ended December 31, 2015 Pre-Modification Post-Modification Pre-Modification Post-Modification Number Outstanding Outstanding Number Outstanding Outstanding of Recorded Recorded of Recorded Recorded (in thousands) Contracts Investments Investments Contracts Investments Investments Troubled debt restructurings: Residential real estate 2 $ 254 $ 258 5 $ 810 $ 827 Commercial real estate - - - 1 1,654 742 Construction, land acquisition and development - - - 1 96 96 Commercial and industrial 2 52 52 1 79 79 Consumer - - - - - - State and political subdivisions - - - - - - Total new troubled debt restructurings 4 $ 306 $ 310 8 $ 2,639 $ 1,744 |
Schedule of Types of Modifications of Troubled Debt Restructurings on Financing Receivables [Table Text Block] | For the Year Ended December 31, 2016 (in thousands) Extension of Term Extension of Term and Capitalization of Taxes Principal Forbearance Total Modifications Type of modification: Residential real estate $ 159 $ 95 $ - $ 254 Commercial real estate - - - - Construction, land acquisition and development - - - - Commercial and industrial 52 - - 52 Consumer - - - - State and political subdivisions - - - - Total modifications $ 211 $ 95 $ - $ 306 For the Year Ended December 31, 2015 (in thousands) Extension of Term Extension of Term and Capitalization of Taxes Principal Forbearance Total Modifications Type of modification: Residential real estate $ 710 $ 100 $ - $ 810 Commercial real estate - - 1,654 1,654 Construction, land acquisition and development 96 - - 96 Commercial and industrial - - 79 79 Consumer - - - - State and political subdivisions - - - - Total modifications $ 806 $ 100 $ 1,733 $ 2,639 |
TDRs with Subsequent Default [Table Text Block] | For the Year Ended December 31, 2016 (in thousands) Number of Contracts Recorded Investment Type of modification: Residential real estate 3 $ 107 Commercial real estate 1 680 Construction, land acquisition and development - - Commercial and industrial - - Consumer - - State and political subdivisions - - Total modifications 4 $ 787 |
Note 6 - Bank Premises and Eq32
Note 6 - Bank Premises and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Property Plant and Equipment Components [Table Text Block] | December 31, (in thousands) 2016 2015 Land $ 2,757 $ 2,731 Buildings and improvements 7,676 7,406 Furniture, fixtures and equipment 12,299 12,674 Leasehold improvements 5,184 5,007 Total 27,916 27,818 Accumulated depreciation (17,132 ) (16,625 ) Net $ 10,784 $ 11,193 |
Note 7 - Deposits (Tables)
Note 7 - Deposits (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Deposits [Table Text Block] | December 31, (in thousands) 2016 2015 Demand (non-interest bearing) $ 173,702 $ 154,531 Interest-bearing: Interest-bearing demand 551,114 364,303 Savings 103,241 92,890 Time ($250,000 and over) 35,917 30,290 Other time 151,165 179,532 Total interest-bearing 841,437 667,015 Total deposits $ 1,015,139 $ 821,546 |
Schedule of Maturities of Time Deposits [Table Text Block] | Time Deposits $250,000 Other (in thousands) and Over Time Deposits Total 2017 $ 25,137 $ 99,187 $ 124,324 2018 7,015 30,559 37,574 2019 3,111 6,856 9,967 2020 254 8,068 8,322 2021 400 6,445 6,845 2022 and thereafter - 50 50 Total $ 35,917 $ 151,165 $ 187,082 |
Note 8 - Borrowed Funds (Tables
Note 8 - Borrowed Funds (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | December 31, (in thousands) 2016 2015 Federal Home Loan Bank of Pittsburgh advances - overnight $ - $ 60,500 Federal Home Loan Bank of Pittsburgh advances - term 58,537 75,302 Subordinated debentures 10,000 14,000 Junior subordinated debentures 10,310 10,310 Total $ 78,847 $ 160,112 |
Schedule of Maturities of Long-term Debt [Table Text Block] | December 31, 2016 (in thousands) Amount Weighted Average Interest Rate Within one year $ 47,553 0.68 % After one year but within two years 10,000 2.77 % After two years but within three years 10,984 3.26 % After three years but within four years - - After four years but within five years - - After five years 10,310 2.39 % Total $ 78,847 1.53 % |
Note 10 - Income Taxes (Tables)
Note 10 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | For the Year Ended December 31, (in thousands) 2016 2015 2014 Current $ 134 $ (75 ) $ 326 Deferred 1,968 2,297 3,799 Change in valuation allowance (355 ) (29,981 ) (3,799 ) Income tax expense (benefit) $ 1,747 $ (27,759 ) $ 326 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | For the Year Ended December 31, (in thousands) 2016 2015 2014 Provision at statutory tax rates $ 2,739 $ 2,748 $ 4,674 Add (deduct): Tax effects of non-taxable income (481 ) (483 ) (1,087 ) Non-deductible interest expense 9 11 21 Bank-owned life insurance (187 ) (192 ) (221 ) Change in valuation allowance (355 ) (29,981 ) (3,799 ) Regulatory penalties - - 570 Other items, net 22 138 168 Income tax expense (benefit) $ 1,747 $ (27,759 ) $ 326 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | December 31, (in thousands) 2016 2015 Allowance for loan and lease losses $ 2,961 $ 3,105 Deferred compensation 1,242 1,171 Unrealized holding losses on securities available-for-sale 919 123 Other real estate owned valuation 233 265 Deferred intangible assets 997 1,189 Employee benefits 272 258 Accrued interest - 199 AMT tax credits 2,600 2,466 Charitable contribution carryover 235 355 Accrued rent expense 157 217 Accrued vacation 55 83 Accrued legal settlement costs 941 923 Deferred income 81 96 Net operating loss carryover 17,123 18,910 Gross deferred tax assets 27,816 29,360 Deferred loan origination costs (551 ) (1,074 ) Accrued interest (193 ) - Prepaid expenses (74 ) (73 ) Depreciation (8 ) (51 ) Gross deferred tax liabilities (826 ) (1,198 ) Net deferred asset before valuation allowance 26,990 28,162 Valuation allowance - (355 ) Net deferred tax assets $ 26,990 $ 27,807 |
Note 11 - Related Party Trans36
Note 11 - Related Party Transactions (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Related Party Transactions [Table Text Block] | For the Year Ended December 31, (in thousands) 2016 2015 Balance January 1, $ 52,652 $ 36,783 Additions, new loans and advances 24,917 65,411 Repayments (35,513 ) (48,852 ) Other (1) (49 ) (690 ) Balance December 31, $ 42,007 $ 52,652 |
Schedule of Subordinated Borrowing [Table Text Block] | For the Year Ended For the Year Ended December 31, 2016 December 31, 2015 (in thousands) Related Party Subordinated Noteholders Other Subordinated Noteholders Total Subordinated Notes Outstanding Related Party Subordinated Noteholders Other Subordinated Noteholders Total Subordinated Notes Outstanding Balance, beginning of period $ 8,640 $ 5,360 $ 14,000 $ 9,000 $ 16,000 $ 25,000 Assignments - - - 6,429 (6,429 ) - Principal reductions (2,469 ) (1,531 ) (4,000 ) (6,789 ) (4,211 ) (11,000 ) Balance, end of period $ 6,171 $ 3,829 $ 10,000 $ 8,640 $ 5,360 $ 14,000 |
Note 12 - Commitments, Contin37
Note 12 - Commitments, Contingencies and Concentrations (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | Minimum Future Lease Payments December 31, 2016 (in thousands) Facilities Equipment Total 2017 $ 519 $ 41 $ 560 2018 220 28 248 2019 136 27 163 2020 111 5 116 2021 89 - 89 2022 and thereafter 206 - 206 Total $ 1,281 $ 101 $ 1,382 |
Schedule of Fair Value, Off-balance Sheet Risks [Table Text Block] | December 31, (in thousands) 2016 2015 Commitments to extend credit $ 150,111 $ 170,465 Standby letters of credit 21,220 22,092 |
Schedules of Concentration of Risk, by Risk Factor [Table Text Block] | December 31, 2016 December 31, 2015 % of % of (in thousands) Amount Gross Loans Amount Gross Loans Retail space/shopping centers $ 38,573 5.27 % $ 35,292 4.83 % Automobile dealers 31,989 4.37 % 34,594 4.73 % 1-4 family residential investment properties 24,413 3.34 % 18,957 2.59 % |
Note 13 - Stock Compensation 38
Note 13 - Stock Compensation Plans/Subsequent Event (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Stock Options Roll Forward [Table Text Block] | For the Years Ended December 31, 2016 2015 2014 Weighted Weighted Weighted Average Average Average Exercise Exercise Exercise Shares Price Shares Price Shares Price Stock options outstanding at the beginning of the year 50,746 $ 15.20 64,479 $ 15.87 82,598 $ 15.98 Granted - - - - - - Exercised - - - - - - Forfeited (13,046 ) 21.14 (13,733 ) 18.33 (18,119 ) 16.37 Stock options outstanding at the end of the year 37,700 $ 13.15 50,746 $ 15.20 64,479 $ 15.87 Options exercisable at year end 37,700 $ 13.15 50,746 $ 15.20 64,479 $ 15.87 Weighted average fair value of options granted during the year $ - $ - $ - Stock-based compensation expense $ - $ - $ - |
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block] | Options Outstanding Options Excercisable Weighted Average Weighted Weighted Remaining Average Average Number Contractual Exercise Number Exercise Range of Exercise Price Outstanding Life Price Exercisable Price $10.81 - $16.90 37,700 1.57 $ 13.15 37,700 $ 13.15 |
Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block] | For the Years Ended December 31, 2016 2015 2014 Weighted- Weighted- Weighted- Average Average Average Restricted Grant Date Restricted Grant Date Restricted Grant Date Shares Fair Value Shares Fair Value Shares Fair Value Unvested unrestricted stock awards at January 1, 112,958 $ 5.99 45,750 $ 6.70 - $ - Awards granted 67,600 5.53 84,900 5.75 45,750 6.70 Forfeitures (23,836 ) 5.69 (1,166 ) 6.70 - - Vestings (52,848 ) 6.02 (16,526 ) 6.70 - - Unvested unrestricted stock awards at December 31, 103,874 $ 5.74 112,958 $ 5.99 45,750 $ 6.70 |
Note 14 - Regulatory Matters_39
Note 14 - Regulatory Matters/Subsequent Event (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | Company Bank Minimum Required For Capital Adequacy Purposes Minimum Required For Capital Adequacy Purposes with Conservation Buffer To Be Well Capitalized Under Prompt Corrective Action Regulations* (dollars in thousands) Amount Ratio Amount Ratio Ratio Ratio Ratio December 31, 2016 Total capital (to risk-weighted assets) $ 96,827 12.06 % $ 102,786 12.81 % 8.00 % 8.625 % 10.00 % Tier I capital (to risk-weighted assets) 82,159 10.23 % 94,118 11.73 % 6.00 % 6.625 % 8.00 % Tier I common equity (to risk-weighted assets) 80,049 9.97 % 94,118 11.73 % 4.50 % 5.125 % 6.50 % Tier I capital (to average assets) 82,159 7.53 % 94,118 8.63 % 4.00 % 4.000 % 5.00 % Total risk-weighted assets 803,026 802,610 Total average assets 1,090,665 1,090,550 Company Bank Minimum Required For Capital Adequacy Purposes Minimum Required For Capital Adequacy Purposes with Conservation Buffer To Be Well Capitalized Under Prompt Corrective Action Regulations* (dollars in thousands) Amount Ratio Amount Ratio Ratio Ratio Ratio December 31, 2015 Total capital (to risk-weighted assets) $ 93,835 11.79 % $ 110,039 13.83 % 8.00 % N/A 10.00 % Tier I capital (to risk-weighted assets) 74,945 9.42 % 100,949 12.69 % 6.00 % N/A 8.00 % Tier I common equity (to risk-weighted assets) 74,945 9.42 % 100,949 12.69 % 4.50 % N/A 6.50 % Tier I capital (to average assets) 74,945 7.27 % 100,949 9.79 % 4.00 % N/A 5.00 % Total risk-weighted assets 795,887 795,490 Total average assets 1,031,426 1,030,828 |
Note 15 - Fair Value Measurem40
Note 15 - Fair Value Measurements (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | Fair Value Measurements at December 31, 2016 Quoted Prices Significant Significant in Active Markets Observable Unobservable for Identical Assets Inputs Inputs (in thousands) Fair Value (Level 1) (Level 2) (Level 3) Available-for-sale securities: Obligations of U.S. government agencies $ 12,188 $ - $ 12,188 $ - Obligations of state and political subdivisions 117,873 - 117,873 - U.S. government/government-sponsored agencies: Collateralized mortgage obligations - residential 18,084 - 18,084 - Collateralized mortgage obligations - commercial 99,350 - 99,350 - Residential mortgage-backed securities 20,576 - 20,576 - Corporate debt securities 453 - 453 - Negotiable certificates of deposit 3,216 - 3,216 - Equity securities 936 936 - - Total available-for-sale securities $ 272,676 $ 936 $ 271,740 $ - Fair Value Measurements at December 31, 2015 Quoted Prices Significant Significant in Active Markets Observable Unobservable for Identical Assets Inputs Inputs (in thousands) Fair Value (Level 1) (Level 2) (Level 3) Available-for-sale securities: Obligations of U.S. government agencies $ 44,043 $ - $ 44,043 $ - Obligations of state and political subdivisions 75,407 - 75,407 - U.S. government/government-sponsored agencies: Collateralized mortgage obligations - residential 22,269 - 22,269 - Collateralized mortgage obligations - commercial 89,423 - 89,423 - Residential mortgage-backed securities 18,098 - 18,098 - Corporate debt securities 423 - 423 - Negotiable certificates of deposit 3,162 - 3,162 - Equity securities 948 948 - - Total available-for-sale securities $ 253,773 $ 948 $ 252,825 $ - |
Fair Value Measurements, Nonrecurring [Table Text Block] | December 31, 2016 Fair Value Measurement Quantitative Information Recorded Valuation Fair Valuation Unobservable Value/ (in thousands) Investment Allowance Value Technique Inputs Range Impaired loans - collateral dependent $ 482 $ 68 $ 414 Appraisal of collateral Selling costs 10.0 % Impaired loans - other 3,247 234 3,013 Discounted cash flows Discount rate 3.0% - 7.5 % Other real estate owned 1,949 - 1,949 Appraisal of collateral Selling costs 10.0 % December 31, 2015 Fair Value Measurement Quantitative Information Recorded Valuation Fair Valuation Unobservable Value/ (in thousands) Investment Allowance Value Technique Inputs Range Impaired loans - collateral dependent $ 718 $ 124 $ 594 Appraisal of collateral Selling costs 10.0 % Impaired loans - other 3,757 257 3,500 Discounted cash flows Discount rate 2.9% - 7.5 % Other real estate owned 3,104 - 3,104 Appraisal of collateral Selling costs 10.0 % |
Fair Value, by Balance Sheet Grouping [Table Text Block] | Fair Value December 31, 2016 December 31, 2015 (in thousands) Measurement Carrying Value Fair Value Carrying Value Fair Value Financial assets Cash and short term investments Level 1 $ 112,445 $ 112,445 $ 21,083 $ 21,083 Securities available for sale See previous table 272,676 272,676 253,773 253,773 FHLB and FRB Stock Level 2 3,311 3,311 7,695 7,695 Loans held for sale Level 2 596 596 683 683 Loans, net Level 3 725,860 715,602 724,926 716,412 Accrued interest receivable Level 2 2,757 2,757 2,475 2,475 Mortgage servicing rights Level 3 215 744 240 880 Financial liabilities Deposits Level 2 1,015,139 968,904 821,546 798,466 Borrowed funds Level 2 78,847 78,923 160,112 160,266 Accrued interest payable Level 2 242 242 11,165 11,165 |
Note 16 - Earnings Per Share (T
Note 16 - Earnings Per Share (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | For the Year Ended December 31, (in thousands, except share data) 2016 2015 2014 Net income $ 6,309 $ 35,840 $ 13,420 Basic weighted-average number of common shares outstanding 16,571,262 16,499,622 16,472,660 Plus: common share equivalents 1,433 - 211 Diluted weighted-average number of common shares outstanding 16,572,695 16,499,622 16,472,871 Income per common share: Basic $ 0.38 $ 2.17 $ 0.81 Diluted $ 0.38 $ 2.17 $ 0.81 |
Note 17 - Other Comprehensive42
Note 17 - Other Comprehensive Income (Loss) (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | For the year Ended December 31, 2016 Amount Reclassified from Accumulated Affected Line Item Other Comprehensive in the Consolidated (in thousands) Income (Loss) Statements of Income Available-for-sale securities: Reclassification adjustment for net gains reclassified into net income $ (960 ) Net gain on sale of securities Taxes 326 Income tax expense (benefit) Net of tax amount $ (634 ) For the year Ended December 31, 2015 Amount Reclassified from Accumulated Affected Line Item Other Comprehensive in the Consolidated (in thousands) Income (Loss) Statements of Income Available-for-sale securities: Reclassification adjustment for net gains reclassified into net income $ (2,296 ) Net gain on sale of securities Taxes 781 Income tax expense (benefit) Net of tax amount $ (1,515 ) For the year Ended December 31, 2014 Amount Reclassified from Accumulated Affected Line Item Other Comprehensive in the Consolidated (in thousands) Income (Loss) Statements of Income Available-for-sale securities: Reclassification adjustment for net gains reclassified into net income $ (6,272 ) Net gain on sale of securities Taxes 2,132 Income tax expense (benefit) Net of tax amount $ (4,140 ) |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | For the Year Ended December 31, (in thousands) 2016 2015 2014 Balance, January 1, $ (238 ) $ 1,138 $ (3,092 ) Other comprehensive (loss) income before reclassifications (912 ) 139 8,370 Amounts reclassified from accumulated other comprehensive (loss) income (634 ) (1,515 ) (4,140 ) Net other comprehensive (loss) income during the period (1,546 ) (1,376 ) 4,230 Balance, December 31, $ (1,784 ) $ (238 ) $ 1,138 |
Note 18 - Condensed Financial43
Note 18 - Condensed Financial Information - Parent Company Only (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Condensed Balance Sheet [Table Text Block] | December 31, (in thousands) 2016 2015 Assets: Cash $ 567 $ 947 Investment in statutory trust 384 377 Investment in subsidiary (equity method) 112,106 122,182 Other assets 236 609 Total assets $ 113,293 $ 124,115 Liabilities and Shareholders’ Equity: Subordinated debentures $ 10,000 $ 14,000 Junior subordinated debentures 10,310 10,310 Accrued interest payable 52 10,902 Other liabilities 2,784 2,725 Total liabilities 23,146 37,937 Shareholders’ equity 90,147 86,178 Total liabilities and shareholders’ equity $ 113,293 $ 124,115 |
Condensed Income Statement [Table Text Block] | For the Year Ended December 31, (in thousands) 2016 2015 2014 Income: Dividends from subsidiaries $ 16,000 $ 12,500 $ 1,000 Income from trust 7 6 6 Other income - - 275 Total income 16,007 12,506 1,281 Expense: Interest on subordinated notes 625 1,450 2,281 Interest on junior subordinated debt 247 206 236 Other operating expenses 182 168 128 Other losses 115 114 276 Total expenses 1,169 1,938 2,921 Income (loss) before income taxes 14,838 10,568 (1,640 ) Provision (credit) for income taxes - - - Income (loss) before equity in undistributed net income of subsidiary 14,838 10,568 (1,640 ) Equity in undistributed net income of subsidiary (8,529 ) 25,272 15,060 Net income $ 6,309 $ 35,840 $ 13,420 |
Condensed Cash Flow Statement [Table Text Block] | For the Year Ended December 31, (in thousands) 2016 2015 2014 Cash flows from operating activities: Net income $ 6,309 $ 35,840 $ 13,420 Adjustments to reconcile net income to net cash provided by operating activities: Equity in undistributed loss (income) of subsidiary 8,529 (25,272 ) (15,060 ) Equity in trust (7 ) (6 ) (6 ) (Decrease) increase in accrued interest payable (10,850 ) 999 1,596 Decrease (increase) in other assets 639 (18 ) - Increase (decrease) in other liabilities 59 (58 ) 258 Net cash provided by operating activities 4,679 11,485 208 Cash flows from financing activities: Principal reduction on subordinated debentures (4,000 ) (11,000 ) - Proceeds from issuance of common shares 433 - - Cash dividends paid (1,492 ) - - Net cash used in financing activities (5,059 ) (11,000 ) - (Decrease) increase in cash (380 ) 485 208 Cash at beginning of year 947 462 254 Cash at end of year $ 567 $ 947 $ 462 |
Note 19 - Selected Quarterly 44
Note 19 - Selected Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Quarterly Financial Information [Table Text Block] | 2016 Quarter Ended (in thousands, except share data) March 31, June 30, September 30, December 31, Interest income $ 8,544 $ 8,663 $ 8,765 $ 8,776 Interest expense 1,006 1,050 1,085 1,056 Net interest income 7,538 7,613 7,680 7,720 Provision (credit) for loan and lease losses 696 396 (234 ) 295 Net interest income after provision (credit) for loan and lease losses 6,842 7,217 7,914 7,425 Non-interest income 1,331 2,094 1,380 1,398 Non-interest expense 6,804 7,025 6,553 7,163 Income before income taxes 1,369 2,286 2,741 1,660 Income tax expense 226 661 724 136 Net income $ 1,143 $ 1,625 $ 2,017 $ 1,524 Earnings per share: Basic $ 0.07 $ 0.10 $ 0.12 $ 0.09 Diluted $ 0.07 $ 0.10 $ 0.12 $ 0.09 2015 Quarter Ended (in thousands, except share data) March 31, June 30, September 30, December 31, Interest income $ 7,697 $ 7,699 $ 8,199 $ 8,606 Interest expense 1,415 1,378 1,017 991 Net interest income 6,282 6,321 7,182 7,615 (Credit) provision for loan and lease losses (494 ) 345 (191 ) (1,005 ) Net interest income after (credit) provision for loan and lease losses 6,776 5,976 7,373 8,620 Non-interest income 3,419 1,545 1,379 1,457 Non-interest expense 6,782 6,680 6,415 8,587 Income before income taxes 3,413 841 2,337 1,490 Income tax (benefit) expense (62 ) 22 - (27,719 ) Net income $ 3,475 $ 819 $ 2,337 $ 29,209 Earnings per share: Basic $ 0.21 $ 0.05 $ 0.14 $ 1.77 Diluted $ 0.21 $ 0.05 $ 0.14 $ 1.77 |
Note 2 - Summary of Significa45
Note 2 - Summary of Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Proceeds from Federal Reserve | $ 1,300 | $ 1,300 | ||
Loans Still Classified as Non-accrual Status, Period of Past Due | 90 days | |||
Financing Receivable Performance Period Under Loan Terms for Reclassification from Non-accrual Status | 180 days | |||
Outstanding Loans Balances That Are Considered to Be Within Homogeneous Pools and Not Individually Evaluated for Impairment, Maximum | $ 100 | |||
Minimum Balance of Impaired Loan Relationships That Are Individually Evaluated for Impairment | 100 | |||
Proceeds from the Sale of SBA Guarantees | $ 1,315 | $ 0 | $ 0 | |
Core Deposits [Member] | ||||
Finite-Lived Intangible Asset, Useful Life | 10 years | |||
Finite-Lived Intangible Assets, Net | 137 | |||
Other Assets [Member] | ||||
Federal Reserve Bank Stock | 1,300 | $ 1,300 | 1,300 | |
Other Liabilities [Member] | Guaranteed Minimum Death Benefit [Member] | ||||
Net Amount at Risk by Product and Guarantee, Net Amount at Risk | $ 105 | $ 105 | $ 101 |
Note 2 - Summary of Significa46
Note 2 - Summary of Significant Accounting Policies - Property, Plant and Equipment Useful Life (Details) | 12 Months Ended |
Dec. 31, 2016 | |
Building and Building Improvements [Member] | Minimum [Member] | |
Buildings and improvements (years) (Year) | 10 years |
Building and Building Improvements [Member] | Maximum [Member] | |
Buildings and improvements (years) (Year) | 40 years |
Furniture and Fixtures [Member] | Minimum [Member] | |
Buildings and improvements (years) (Year) | 3 years |
Furniture and Fixtures [Member] | Maximum [Member] | |
Buildings and improvements (years) (Year) | 15 years |
Leasehold Improvements [Member] | Minimum [Member] | |
Buildings and improvements (years) (Year) | 2 years |
Leasehold Improvements [Member] | Maximum [Member] | |
Buildings and improvements (years) (Year) | 39 years |
Note 3 - Restricted Cash Bala47
Note 3 - Restricted Cash Balances (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Average Reserves Maintained with Federal Reserve Bank | $ 1,500 | $ 1,000 |
Compensating Balances Maintained at Correspondent Banks | $ 133 | $ 173 |
Note 4 - Securities (Details Te
Note 4 - Securities (Details Textual) $ in Thousands | 6 Months Ended | 12 Months Ended | ||
Dec. 31, 2016USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | |
Individual Stockholders Equity Maximum Percentage | 10.00% | 10.00% | ||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 109 | 109 | 73 | |
Federal Home Loan Bank Stock | $ 3,311 | $ 3,311 | $ 6,344 | |
Proceeds from Federal Reserve | 1,300 | 1,300 | ||
Held-to-maturity Securities | 0 | 0 | 0 | |
Other than Temporary Impairment Losses, Investments | 0 | |||
Other Assets [Member] | ||||
Federal Reserve Bank Stock | 1,300 | 1,300 | 1,300 | |
Federal Home Loan Bank of Pittsburgh [Member] | ||||
Federal Home Loan Bank Stock | 3,300 | 3,300 | 6,300 | |
Impairment on Federal Reserve Bank of Philadelphia Stock | $ 0 | $ 0 | $ 0 | |
US States and Political Subdivisions Debt Securities [Member] | ||||
Held to Maturity Securities Number | 4 | |||
Held-to-maturity Securities, Sold Security, at Carrying Value | $ 2,300 | |||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 82 | 82 | 32 | |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 25 | 25 | ||
Corporate Debt Securities [Member] | ||||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 1 | 1 | 1 | |
Equity Securities [Member] | ||||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 1 | 1 | 1 |
Note 4 - Securities - Amortized
Note 4 - Securities - Amortized Cost, Gross Unrealized Gains and Losses, and the Fair Value of the Company's Securities (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Available-for-sale: | ||
Amortized Cost | $ 275,379 | $ 254,134 |
Gross Unrealized Holding Gains | 805 | 982 |
Gross Unrealized Holding Losses | 3,508 | 1,343 |
Securities available for sale, at fair value | 272,676 | 253,773 |
US Government Agencies Debt Securities [Member] | ||
Available-for-sale: | ||
Amortized Cost | 12,152 | 43,787 |
Gross Unrealized Holding Gains | 36 | 256 |
Gross Unrealized Holding Losses | 0 | 0 |
Securities available for sale, at fair value | 12,188 | 44,043 |
US States and Political Subdivisions Debt Securities [Member] | ||
Available-for-sale: | ||
Amortized Cost | 119,919 | 75,401 |
Gross Unrealized Holding Gains | 257 | 428 |
Gross Unrealized Holding Losses | 2,303 | 422 |
Securities available for sale, at fair value | 117,873 | 75,407 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Residential Mortgage [Member] | ||
Available-for-sale: | ||
Amortized Cost | 17,969 | 22,162 |
Gross Unrealized Holding Gains | 155 | 116 |
Gross Unrealized Holding Losses | 40 | 9 |
Securities available for sale, at fair value | 18,084 | 22,269 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Commercial Loan [Member] | ||
Available-for-sale: | ||
Amortized Cost | 100,064 | 89,900 |
Gross Unrealized Holding Gains | 154 | 124 |
Gross Unrealized Holding Losses | 868 | 601 |
Securities available for sale, at fair value | 99,350 | 89,423 |
Collateralized Mortgage Backed Securities [Member] | ||
Available-for-sale: | ||
Amortized Cost | 20,593 | 18,201 |
Gross Unrealized Holding Gains | 159 | 58 |
Gross Unrealized Holding Losses | 176 | 161 |
Securities available for sale, at fair value | 20,576 | 18,098 |
Corporate Debt Securities [Member] | ||
Available-for-sale: | ||
Amortized Cost | 500 | 500 |
Gross Unrealized Holding Gains | 0 | 0 |
Gross Unrealized Holding Losses | 47 | 77 |
Securities available for sale, at fair value | 453 | 423 |
Negotiable Certificates of Deposit [Member] | ||
Available-for-sale: | ||
Amortized Cost | 3,172 | 3,173 |
Gross Unrealized Holding Gains | 44 | 0 |
Gross Unrealized Holding Losses | 0 | 11 |
Securities available for sale, at fair value | 3,216 | 3,162 |
Equity Securities [Member] | ||
Available-for-sale: | ||
Amortized Cost | 1,010 | 1,010 |
Gross Unrealized Holding Gains | 0 | 0 |
Gross Unrealized Holding Losses | 74 | 62 |
Securities available for sale, at fair value | $ 936 | $ 948 |
Note 4 - Securities - Available
Note 4 - Securities - Available-for-sale Debt Securities by Contractual Maturity (Details) $ in Thousands | Dec. 31, 2016USD ($) |
One year or less, amortized cost | $ 248 |
One year or less, fair value | 249 |
One year through five years | 29,647 |
One year through five years | 29,649 |
After five years through ten years, amortized cost | 100,177 |
After five years through ten years, fair value | 98,217 |
After ten years, amortized cost | 5,671 |
After ten years, fair value | 5,615 |
Total, amortized cost | 274,369 |
Total, fair value | 271,740 |
Collateralized Mortgage Obligations [Member] | |
Securities without a single maturity, amortized cost | 118,033 |
Securities without a single maturity, fair value | 117,434 |
Collateralized Mortgage Backed Securities [Member] | |
Securities without a single maturity, amortized cost | 20,593 |
Securities without a single maturity, fair value | $ 20,576 |
Note 4 - Securities - Gross Pro
Note 4 - Securities - Gross Proceeds Received and Realized Gain (Loss) on Sale of Securities (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Proceeds from the sale of securities available for sale | $ 32,588 | $ 88,658 | $ 111,243 |
Gross realized gains | 960 | 2,325 | 6,272 |
Gross realized losses | (29) | ||
Gross proceeds received | 2,686 | ||
Gross realized gains | 368 | ||
Gross realized losses |
Note 4 - Securities - Availab52
Note 4 - Securities - Available-for-sale Securities in a Continuous Unrealized Loss Position (Details) $ in Thousands | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) |
Less than 12 Months, Number of Securities | 106 | 70 |
Less than 12 Months, Fair Value | $ 169,634 | $ 126,421 |
Less than 12 Months, Gross Unrealized Losses | $ 3,387 | $ 1,201 |
12 Months or Greater, Number of Securities | 3 | 3 |
12 Months or Greater, Fair Value | $ 1,554 | $ 1,625 |
12 Months or Greater, Gross Unrealized Losses | $ 121 | $ 142 |
Total, Number of Securities | 109 | 73 |
Total, Fair Value | $ 171,188 | $ 128,046 |
Total, Gross Unrealized Losses | $ 3,508 | $ 1,343 |
US Government Agencies Debt Securities [Member] | ||
Less than 12 Months, Number of Securities | 0 | 0 |
Less than 12 Months, Fair Value | $ 0 | $ 0 |
Less than 12 Months, Gross Unrealized Losses | $ 0 | $ 0 |
12 Months or Greater, Number of Securities | 0 | 0 |
12 Months or Greater, Fair Value | $ 0 | $ 0 |
12 Months or Greater, Gross Unrealized Losses | $ 0 | $ 0 |
Total, Number of Securities | 0 | 0 |
Total, Fair Value | $ 0 | $ 0 |
Total, Gross Unrealized Losses | $ 0 | $ 0 |
US States and Political Subdivisions Debt Securities [Member] | ||
Less than 12 Months, Number of Securities | 82 | 31 |
Less than 12 Months, Fair Value | $ 88,479 | $ 33,022 |
Less than 12 Months, Gross Unrealized Losses | $ 2,303 | $ 419 |
12 Months or Greater, Number of Securities | 0 | 1 |
12 Months or Greater, Fair Value | $ 0 | $ 264 |
12 Months or Greater, Gross Unrealized Losses | $ 0 | $ 3 |
Total, Number of Securities | 82 | 32 |
Total, Fair Value | $ 88,479 | $ 33,286 |
Total, Gross Unrealized Losses | $ 2,303 | $ 422 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Total, Number of Securities | 25 | |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Residential Mortgage [Member] | ||
Less than 12 Months, Number of Securities | 2 | 4 |
Less than 12 Months, Fair Value | $ 4,514 | $ 5,738 |
Less than 12 Months, Gross Unrealized Losses | $ 40 | $ 9 |
12 Months or Greater, Number of Securities | 1 | 0 |
12 Months or Greater, Fair Value | $ 175 | $ 0 |
12 Months or Greater, Gross Unrealized Losses | $ 0 | |
Total, Number of Securities | 3 | 4 |
Total, Fair Value | $ 4,689 | $ 5,738 |
Total, Gross Unrealized Losses | $ 40 | $ 9 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Commercial Loan [Member] | ||
Less than 12 Months, Number of Securities | 17 | 16 |
Less than 12 Months, Fair Value | $ 70,146 | $ 67,969 |
Less than 12 Months, Gross Unrealized Losses | $ 868 | $ 601 |
12 Months or Greater, Number of Securities | 0 | 0 |
12 Months or Greater, Fair Value | $ 0 | $ 0 |
12 Months or Greater, Gross Unrealized Losses | $ 0 | $ 0 |
Total, Number of Securities | 17 | 16 |
Total, Fair Value | $ 70,146 | $ 67,969 |
Total, Gross Unrealized Losses | $ 868 | $ 601 |
Collateralized Mortgage Backed Securities [Member] | ||
Less than 12 Months, Number of Securities | 5 | 7 |
Less than 12 Months, Fair Value | $ 6,495 | $ 16,779 |
Less than 12 Months, Gross Unrealized Losses | $ 176 | $ 161 |
12 Months or Greater, Number of Securities | ||
12 Months or Greater, Fair Value | ||
12 Months or Greater, Gross Unrealized Losses | ||
Total, Number of Securities | 5 | 7 |
Total, Fair Value | $ 6,495 | $ 16,779 |
Total, Gross Unrealized Losses | $ 176 | $ 161 |
Corporate Debt Securities [Member] | ||
Less than 12 Months, Number of Securities | 0 | 0 |
Less than 12 Months, Fair Value | $ 0 | $ 0 |
Less than 12 Months, Gross Unrealized Losses | $ 0 | $ 0 |
12 Months or Greater, Number of Securities | 1 | 1 |
12 Months or Greater, Fair Value | $ 453 | $ 423 |
12 Months or Greater, Gross Unrealized Losses | $ 47 | $ 77 |
Total, Number of Securities | 1 | 1 |
Total, Fair Value | $ 453 | $ 423 |
Total, Gross Unrealized Losses | $ 47 | $ 77 |
Negotiable Certificates of Deposit [Member] | ||
Less than 12 Months, Number of Securities | 0 | 12 |
Less than 12 Months, Fair Value | $ 0 | $ 2,913 |
Less than 12 Months, Gross Unrealized Losses | $ 0 | $ 11 |
12 Months or Greater, Number of Securities | 0 | 0 |
12 Months or Greater, Fair Value | $ 0 | $ 0 |
12 Months or Greater, Gross Unrealized Losses | $ 0 | $ 0 |
Total, Number of Securities | 0 | 12 |
Total, Fair Value | $ 0 | $ 2,913 |
Total, Gross Unrealized Losses | $ 0 | $ 11 |
Equity Securities [Member] | ||
Less than 12 Months, Number of Securities | 0 | 0 |
Less than 12 Months, Fair Value | $ 0 | $ 0 |
Less than 12 Months, Gross Unrealized Losses | $ 0 | $ 0 |
12 Months or Greater, Number of Securities | 1 | 1 |
12 Months or Greater, Fair Value | $ 926 | $ 938 |
12 Months or Greater, Gross Unrealized Losses | $ 74 | $ 62 |
Total, Number of Securities | 1 | 1 |
Total, Fair Value | $ 926 | $ 938 |
Total, Gross Unrealized Losses | $ 74 | $ 62 |
Note 5 - Loans (Details Textual
Note 5 - Loans (Details Textual) | 11 Months Ended | 12 Months Ended | ||
Dec. 13, 2015USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | |
Gain (Loss) on Sales of Loans, Net | $ 340,000 | $ 292,000 | $ 292,000 | |
Education Loans Recorded Investment | 2,600,000 | |||
Net Loss on Sale of Student Loans | 13,000 | |||
Impaired Financing Receivable, Minimum Outstanding Balance Threshold | 100,000 | |||
Loans and Leases Receivable, Allowance | 8,419,000 | 8,790,000 | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | $ 2,200,000 | 3,800,000 | ||
Loans Still Classified as Non-accrual Status, Period of Past Due | 90 days | |||
Financing Receivable, Collectively Evaluated for Impairment | $ 726,154,000 | 723,191,000 | 659,698,000 | |
Impaired Financing Receivable, Recorded Investment | 5,604,000 | 7,961,000 | ||
Impaired Financing Receivable, Related Allowance | 302,000 | 381,000 | ||
Loans and Leases Receivable, Impaired, Interest Lost on Nonaccrual Loans | 200,000 | 400,000 | 400,000 | |
Financing Receivable, Modifications, Recorded Investment | 4,300,000 | 5,800,000 | ||
Financing Receivable, Modifications, Pre-Modification Recorded Investment | 306,000 | 2,639,000 | ||
Financing Receivables, Impaired, Troubled Debt Restructuring, Write-down | $ 0 | 912,000 | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 4 | |||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 787 | |||
Financing Receivable, Troubled Debt Restructurings Re-defaulted in Period, Recorded Investment, Not Within 12 Months of Original Modification | 3,500,000 | |||
Loans and Leases Receivable, Impaired, Commitment to Lend | $ 0 | $ 0 | ||
Financing Receivable, Modifications, Number of Contracts | 4 | 8 | ||
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | $ 0 | $ 0 | ||
Residential Real Estate, Foreclosed [Member] | ||||
Number of Real Estate Properties | 1 | |||
Real Estate Investment Property, Net | $ 237,000 | |||
Troubled Debt Restructuring [Member] | ||||
Loans and Leases Receivable, Allowance | 261,000 | 295,000 | ||
Allowance for Loan and Lease Losses, Period Increase (Decrease) | 1,000 | 2,000 | ||
Nonaccrual Loans [Member] | ||||
Financing Receivable, Collectively Evaluated for Impairment | 800,000 | 800,000 | ||
Performing Financial Instruments [Member] | ||||
Financing Receivable, Modifications, Recorded Investment | 4,200,000 | 5,000,000 | ||
Nonperforming Financial Instruments [Member] | ||||
Financing Receivable, Modifications, Recorded Investment | 100,000 | 800,000 | ||
Unallocated Financing Receivables [Member] | ||||
Loans and Leases Receivable, Allowance | 74,000 | |||
Financing Receivable, Collectively Evaluated for Impairment | ||||
Commercial Real Estate Portfolio Segment [Member] | ||||
Financing Receivable, Modifications, Pre-Modification Recorded Investment | $ 1,654,000 | |||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 1 | |||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 680,000 | |||
Financing Receivable, Modifications, Number of Contracts | 1 | |||
Residential Portfolio Segment [Member] | ||||
Financing Receivable, Modifications, Pre-Modification Recorded Investment | $ 254,000 | $ 810,000 | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 3 | |||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 107,000 | |||
Number of Real Estate Properties | 2 | 2 | ||
Other Real Estate | $ 41,000 | $ 41,000 | ||
Financing Receivable, Modifications, Number of Contracts | 2 | 5 | ||
Residential Portfolio Segment [Member] | Troubled Debt Restructuring [Member] | ||||
Allowance for Loan and Lease Losses, Period Increase (Decrease) | $ 37,000 | |||
Consumer Portfolio Segment [Member] | ||||
Financing Receivable, Collectively Evaluated for Impairment | 127,547,000 | $ 128,182,000 | $ 121,731,000 | |
Impaired Financing Receivable, Recorded Investment | 297,000 | 351,000 | ||
Impaired Financing Receivable, Related Allowance | 1,000 | 1,000 | ||
Financing Receivable, Modifications, Pre-Modification Recorded Investment | ||||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | ||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | ||||
Mortgage Loans in Process of Foreclosure, Amount | $ 92,000 | $ 340,000 | ||
Financing Receivable, Modifications, Number of Contracts | ||||
Consumer Portfolio Segment [Member] | In Process of Foreclosure [Member] | ||||
Number of Real Estate Properties | 5 | 3 | ||
Small Business Administration [Member] | ||||
Gain (Loss) on Sales of Loans, Net | $ 51,000 | |||
Number of Loans Sold | 3 | 0 | 0 | |
Loans Sold During Period, Principal Balance | $ 1,300,000 | |||
One- to Four-family Mortgages [Member] | ||||
Recorded Investment of Mortgage Loans Sold | $ 7,900,000 | 9,500,000 | $ 8,300,000 | |
Gain (Loss) on Sales of Loans, Net | 340,000 | $ 292,000 | $ 292,000 | |
Loans Receivable Held-for-sale, Net, Not Part of Disposal Group, Mortgage | 596,000 | 683,000 | ||
Residential Mortgages [Member] | Small Business Administration [Member] | ||||
Loans Serviced for Others, Unpaid Principal Balance | $ 103,500,000 | $ 110,700,000 |
Note 5 - Loans - Loans Receivab
Note 5 - Loans - Loans Receivable, Net, by Category (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Loans receivable, gross | $ 731,758 | $ 731,152 | $ 669,494 |
Unearned income | (48) | (98) | |
Net deferred loan costs | 2,569 | 2,662 | |
Allowance for loan and lease losses | (8,419) | (8,790) | |
Loans, net | 725,860 | 724,926 | |
Residential Portfolio Segment [Member] | |||
Loans receivable, gross | 144,260 | 130,696 | |
Commercial Real Estate Portfolio Segment [Member] | |||
Loans receivable, gross | 243,830 | 245,198 | |
Construction, Land Acquisition and Development [Member] | |||
Loans receivable, gross | 18,357 | 30,843 | |
Commercial and Industrial [Member] | |||
Loans receivable, gross | 153,758 | 149,826 | 132,057 |
Consumer Portfolio Segment [Member] | |||
Loans receivable, gross | 127,844 | 128,533 | 122,092 |
State and Political Subdivisions [Member] | |||
Loans receivable, gross | $ 43,709 | $ 46,056 | $ 40,205 |
Note 5 - Loans - Activity in th
Note 5 - Loans - Activity in the Allowance for Loan Losses, by Loan Category (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Balance | $ 8,790 | $ 11,520 | $ 8,790 | $ 11,520 | $ 14,017 | |||||||||
Charge-offs | (2,618) | (2,635) | (1,388) | |||||||||||
Recoveries | 1,094 | 1,250 | 4,760 | |||||||||||
Provisions (credits) | $ 295 | $ (234) | $ 396 | 696 | $ (1,005) | $ (191) | $ 345 | (494) | 1,153 | (1,345) | (5,869) | |||
Balance | 8,419 | 8,790 | 8,419 | 8,790 | 11,520 | |||||||||
Specific reserve | $ 302 | $ 381 | $ 384 | |||||||||||
General reserve | 8,117 | 8,409 | 11,136 | |||||||||||
Ending balance | 731,758 | 731,152 | 731,758 | 731,152 | 669,494 | |||||||||
Individually evaluated for impairment | 5,604 | 9,796 | ||||||||||||
Collectively evaluated for impairment | 726,154 | 723,191 | 659,698 | |||||||||||
Provision (credit) for loan and lease losses | 295 | $ (234) | $ 396 | 696 | (1,005) | $ (191) | $ 345 | (494) | 1,153 | (1,345) | (5,869) | |||
Loans receivable, gross | 731,758 | 731,152 | 731,758 | 731,152 | 669,494 | 731,758 | 731,152 | 669,494 | ||||||
Individually evaluated for impairment | 7,961 | |||||||||||||
Residential Portfolio Segment [Member] | ||||||||||||||
Ending balance | 144,260 | 130,696 | 144,260 | 130,696 | ||||||||||
Loans receivable, gross | 144,260 | 130,696 | 144,260 | 130,696 | 144,260 | 130,696 | ||||||||
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | ||||||||||||||
Balance | 1,333 | 1,772 | 1,333 | 1,772 | 2,287 | |||||||||
Charge-offs | (153) | (139) | (204) | |||||||||||
Recoveries | 4 | 58 | 90 | |||||||||||
Provisions (credits) | (13) | (358) | (401) | |||||||||||
Balance | 1,171 | 1,333 | 1,171 | 1,333 | 1,772 | |||||||||
Specific reserve | 29 | 92 | 51 | |||||||||||
General reserve | 1,142 | 1,241 | 1,721 | |||||||||||
Ending balance | 144,260 | 130,696 | 144,260 | 130,696 | 122,832 | |||||||||
Individually evaluated for impairment | 1,929 | 2,487 | ||||||||||||
Collectively evaluated for impairment | 142,331 | 127,766 | 120,345 | |||||||||||
Provision (credit) for loan and lease losses | (13) | (358) | (401) | |||||||||||
Loans receivable, gross | 144,260 | 130,696 | 144,260 | 130,696 | 122,832 | 144,260 | 130,696 | 122,832 | ||||||
Individually evaluated for impairment | 2,930 | |||||||||||||
Commercial Real Estate Portfolio Segment [Member] | ||||||||||||||
Ending balance | 243,830 | 245,198 | 243,830 | 245,198 | ||||||||||
Loans receivable, gross | 243,830 | 245,198 | 243,830 | 245,198 | 243,830 | 245,198 | ||||||||
Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | ||||||||||||||
Balance | 3,346 | 4,663 | 3,346 | 4,663 | 6,017 | |||||||||
Charge-offs | (398) | (912) | ||||||||||||
Recoveries | 6 | 307 | 362 | |||||||||||
Provisions (credits) | 343 | (712) | (1,716) | |||||||||||
Balance | 3,297 | 3,346 | 3,297 | 3,346 | 4,663 | |||||||||
Specific reserve | 254 | 287 | 331 | |||||||||||
General reserve | 3,043 | 3,059 | 4,332 | |||||||||||
Ending balance | 243,830 | 245,198 | 243,830 | 245,198 | 233,473 | |||||||||
Individually evaluated for impairment | 2,937 | 6,660 | ||||||||||||
Collectively evaluated for impairment | 240,893 | 241,367 | 226,813 | |||||||||||
Provision (credit) for loan and lease losses | 343 | (712) | (1,716) | |||||||||||
Loans receivable, gross | 243,830 | 245,198 | 243,830 | 245,198 | 233,473 | 243,830 | 245,198 | 233,473 | ||||||
Individually evaluated for impairment | 3,831 | |||||||||||||
Construction, Land Acquisition and Development [Member] | ||||||||||||||
Ending balance | 18,357 | 30,843 | 18,357 | 30,843 | ||||||||||
Loans receivable, gross | 18,357 | 30,843 | 18,357 | 30,843 | 18,357 | 30,843 | ||||||||
Construction, Land Acquisition and Development [Member] | Real Estate Loan [Member] | ||||||||||||||
Balance | 853 | 665 | 853 | 665 | 924 | |||||||||
Charge-offs | (688) | (45) | ||||||||||||
Recoveries | 9 | 3,538 | ||||||||||||
Provisions (credits) | (594) | 876 | (3,752) | |||||||||||
Balance | 268 | 853 | 268 | 853 | 665 | |||||||||
Specific reserve | 1 | 1 | ||||||||||||
General reserve | 268 | 852 | 664 | |||||||||||
Ending balance | 18,357 | 30,843 | 18,357 | 30,843 | 18,835 | |||||||||
Individually evaluated for impairment | 350 | 256 | ||||||||||||
Collectively evaluated for impairment | 18,007 | 30,197 | 18,579 | |||||||||||
Provision (credit) for loan and lease losses | (594) | 876 | (3,752) | |||||||||||
Loans receivable, gross | 18,357 | 30,843 | 18,357 | 30,843 | 18,835 | 18,357 | 30,843 | 18,835 | ||||||
Individually evaluated for impairment | 646 | |||||||||||||
Commercial and Industrial [Member] | ||||||||||||||
Balance | 1,205 | 2,104 | 1,205 | 2,104 | 2,321 | |||||||||
Charge-offs | (1,107) | (180) | (217) | |||||||||||
Recoveries | 507 | 400 | 262 | |||||||||||
Provisions (credits) | 1,131 | (1,119) | (262) | |||||||||||
Balance | 1,736 | 1,205 | 1,736 | 1,205 | 2,104 | |||||||||
Specific reserve | 18 | |||||||||||||
General reserve | 1,718 | 1,205 | 2,104 | |||||||||||
Ending balance | 153,758 | 149,826 | 153,758 | 149,826 | 132,057 | |||||||||
Individually evaluated for impairment | 91 | 32 | ||||||||||||
Collectively evaluated for impairment | 153,667 | 149,623 | 132,025 | |||||||||||
Provision (credit) for loan and lease losses | 1,131 | (1,119) | (262) | |||||||||||
Loans receivable, gross | 153,758 | 149,826 | 153,758 | 149,826 | 132,057 | 153,758 | 149,826 | 132,057 | ||||||
Individually evaluated for impairment | 203 | |||||||||||||
Consumer Portfolio Segment [Member] | ||||||||||||||
Balance | 1,494 | 1,673 | 1,494 | 1,673 | 1,789 | |||||||||
Charge-offs | (960) | (716) | (922) | |||||||||||
Recoveries | 568 | 485 | 508 | |||||||||||
Provisions (credits) | 355 | 52 | 298 | |||||||||||
Balance | 1,457 | 1,494 | 1,457 | 1,494 | 1,673 | |||||||||
Specific reserve | 1 | 1 | 1 | |||||||||||
General reserve | 1,456 | 1,493 | 1,672 | |||||||||||
Ending balance | 127,844 | 128,533 | 127,844 | 128,533 | 122,092 | |||||||||
Individually evaluated for impairment | 297 | 361 | ||||||||||||
Collectively evaluated for impairment | 127,547 | 128,182 | 121,731 | |||||||||||
Provision (credit) for loan and lease losses | 355 | 52 | 298 | |||||||||||
Loans receivable, gross | 127,844 | 128,533 | 127,844 | 128,533 | 122,092 | 127,844 | 128,533 | 122,092 | ||||||
Individually evaluated for impairment | 351 | |||||||||||||
State and Political Subdivisions [Member] | ||||||||||||||
Balance | 485 | 598 | 485 | 598 | 679 | |||||||||
Charge-offs | ||||||||||||||
Recoveries | ||||||||||||||
Provisions (credits) | 5 | (113) | (81) | |||||||||||
Balance | 490 | 485 | 490 | 485 | 598 | |||||||||
Specific reserve | ||||||||||||||
General reserve | 490 | 485 | 598 | |||||||||||
Ending balance | 43,709 | 46,056 | 43,709 | 46,056 | 40,205 | |||||||||
Individually evaluated for impairment | ||||||||||||||
Collectively evaluated for impairment | 43,709 | 46,056 | 40,205 | |||||||||||
Provision (credit) for loan and lease losses | 5 | (113) | (81) | |||||||||||
Loans receivable, gross | 43,709 | 46,056 | 43,709 | 46,056 | 40,205 | 43,709 | 46,056 | 40,205 | ||||||
Individually evaluated for impairment | ||||||||||||||
Unallocated Financing Receivables [Member] | ||||||||||||||
Balance | $ 74 | $ 45 | 74 | 45 | ||||||||||
Charge-offs | ||||||||||||||
Recoveries | ||||||||||||||
Provisions (credits) | (74) | 29 | 45 | |||||||||||
Balance | 74 | 74 | 45 | |||||||||||
Specific reserve | ||||||||||||||
General reserve | 74 | 45 | ||||||||||||
Ending balance | ||||||||||||||
Individually evaluated for impairment | ||||||||||||||
Collectively evaluated for impairment | ||||||||||||||
Provision (credit) for loan and lease losses | (74) | 29 | 45 | |||||||||||
Loans receivable, gross | ||||||||||||||
Individually evaluated for impairment |
Note 5 - Loans - Investment in
Note 5 - Loans - Investment in Loans Receivable by Loan Category and Credit Quality Indicator (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Loans receivable, gross | $ 731,758 | $ 731,152 | $ 669,494 |
Commercial Loans [Member] | |||
Loans receivable, gross | 481,252 | 490,987 | |
Accruing Loans [Member] | |||
Loans receivable, gross | 249,725 | 238,773 | |
Nonaccrual Loans [Member] | |||
Loans receivable, gross | 781 | 1,392 | |
Subtotal, Other Loans [Member] | |||
Loans receivable, gross | 250,506 | 240,165 | |
Pass [Member] | Commercial Loans [Member] | |||
Loans receivable, gross | 462,047 | 461,267 | |
Special Mention [Member] | Commercial Loans [Member] | |||
Loans receivable, gross | 11,409 | 12,887 | |
Substandard [Member] | Commercial Loans [Member] | |||
Loans receivable, gross | 7,796 | 16,833 | |
Doubtful [Member] | Commercial Loans [Member] | |||
Loans receivable, gross | 0 | 0 | |
Loss [Member] | Commercial Loans [Member] | |||
Loans receivable, gross | 0 | 0 | |
Residential Portfolio Segment [Member] | |||
Loans receivable, gross | 144,260 | 130,696 | |
Residential Portfolio Segment [Member] | Commercial Loans [Member] | |||
Loans receivable, gross | 26,366 | 22,451 | |
Residential Portfolio Segment [Member] | Accruing Loans [Member] | |||
Loans receivable, gross | 117,286 | 107,204 | |
Residential Portfolio Segment [Member] | Nonaccrual Loans [Member] | |||
Loans receivable, gross | 608 | 1,041 | |
Residential Portfolio Segment [Member] | Subtotal, Other Loans [Member] | |||
Loans receivable, gross | 117,894 | 108,245 | |
Residential Portfolio Segment [Member] | Pass [Member] | Commercial Loans [Member] | |||
Loans receivable, gross | 25,506 | 21,018 | |
Residential Portfolio Segment [Member] | Special Mention [Member] | Commercial Loans [Member] | |||
Loans receivable, gross | 394 | 449 | |
Residential Portfolio Segment [Member] | Substandard [Member] | Commercial Loans [Member] | |||
Loans receivable, gross | 466 | 984 | |
Residential Portfolio Segment [Member] | Doubtful [Member] | Commercial Loans [Member] | |||
Loans receivable, gross | 0 | 0 | |
Residential Portfolio Segment [Member] | Loss [Member] | Commercial Loans [Member] | |||
Loans receivable, gross | 0 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | |||
Loans receivable, gross | 243,830 | 245,198 | |
Commercial Real Estate Portfolio Segment [Member] | Commercial Loans [Member] | |||
Loans receivable, gross | 243,830 | 245,198 | |
Commercial Real Estate Portfolio Segment [Member] | Accruing Loans [Member] | |||
Loans receivable, gross | 0 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Nonaccrual Loans [Member] | |||
Loans receivable, gross | 0 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Subtotal, Other Loans [Member] | |||
Loans receivable, gross | 0 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | Commercial Loans [Member] | |||
Loans receivable, gross | 233,523 | 225,850 | |
Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member] | Commercial Loans [Member] | |||
Loans receivable, gross | 4,911 | 11,356 | |
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | Commercial Loans [Member] | |||
Loans receivable, gross | 5,396 | 7,992 | |
Commercial Real Estate Portfolio Segment [Member] | Doubtful [Member] | Commercial Loans [Member] | |||
Loans receivable, gross | 0 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Loss [Member] | Commercial Loans [Member] | |||
Loans receivable, gross | 0 | 0 | |
Construction, Land Acquisition and Development [Member] | |||
Loans receivable, gross | 18,357 | 30,843 | |
Construction, Land Acquisition and Development [Member] | Commercial Loans [Member] | |||
Loans receivable, gross | 14,895 | 29,441 | |
Construction, Land Acquisition and Development [Member] | Accruing Loans [Member] | |||
Loans receivable, gross | 3,462 | 1,402 | |
Construction, Land Acquisition and Development [Member] | Nonaccrual Loans [Member] | |||
Loans receivable, gross | 0 | ||
Construction, Land Acquisition and Development [Member] | Subtotal, Other Loans [Member] | |||
Loans receivable, gross | 3,462 | 1,402 | |
Construction, Land Acquisition and Development [Member] | Pass [Member] | Commercial Loans [Member] | |||
Loans receivable, gross | 14,101 | 23,946 | |
Construction, Land Acquisition and Development [Member] | Special Mention [Member] | Commercial Loans [Member] | |||
Loans receivable, gross | 346 | 358 | |
Construction, Land Acquisition and Development [Member] | Substandard [Member] | Commercial Loans [Member] | |||
Loans receivable, gross | 448 | 5,137 | |
Construction, Land Acquisition and Development [Member] | Doubtful [Member] | Commercial Loans [Member] | |||
Loans receivable, gross | 0 | 0 | |
Construction, Land Acquisition and Development [Member] | Loss [Member] | Commercial Loans [Member] | |||
Loans receivable, gross | 0 | 0 | |
Commercial and Industrial [Member] | |||
Loans receivable, gross | 153,758 | 149,826 | 132,057 |
Commercial and Industrial [Member] | Commercial Loans [Member] | |||
Loans receivable, gross | 149,716 | 145,046 | |
Commercial and Industrial [Member] | Accruing Loans [Member] | |||
Loans receivable, gross | 4,042 | 4,775 | |
Commercial and Industrial [Member] | Nonaccrual Loans [Member] | |||
Loans receivable, gross | 5 | ||
Commercial and Industrial [Member] | Subtotal, Other Loans [Member] | |||
Loans receivable, gross | 4,042 | 4,780 | |
Commercial and Industrial [Member] | Pass [Member] | Commercial Loans [Member] | |||
Loans receivable, gross | 145,794 | 142,242 | |
Commercial and Industrial [Member] | Special Mention [Member] | Commercial Loans [Member] | |||
Loans receivable, gross | 2,794 | 595 | |
Commercial and Industrial [Member] | Substandard [Member] | Commercial Loans [Member] | |||
Loans receivable, gross | 1,128 | 2,209 | |
Commercial and Industrial [Member] | Doubtful [Member] | Commercial Loans [Member] | |||
Loans receivable, gross | 0 | 0 | |
Commercial and Industrial [Member] | Loss [Member] | Commercial Loans [Member] | |||
Loans receivable, gross | 0 | 0 | |
Consumer Portfolio Segment [Member] | |||
Loans receivable, gross | 127,844 | 128,533 | 122,092 |
Consumer Portfolio Segment [Member] | Commercial Loans [Member] | |||
Loans receivable, gross | 2,736 | 2,795 | |
Consumer Portfolio Segment [Member] | Accruing Loans [Member] | |||
Loans receivable, gross | 124,935 | 125,392 | |
Consumer Portfolio Segment [Member] | Nonaccrual Loans [Member] | |||
Loans receivable, gross | 173 | 346 | |
Consumer Portfolio Segment [Member] | Subtotal, Other Loans [Member] | |||
Loans receivable, gross | 125,108 | 125,738 | |
Consumer Portfolio Segment [Member] | Pass [Member] | Commercial Loans [Member] | |||
Loans receivable, gross | 2,699 | 2,747 | |
Consumer Portfolio Segment [Member] | Special Mention [Member] | Commercial Loans [Member] | |||
Loans receivable, gross | 9 | ||
Consumer Portfolio Segment [Member] | Substandard [Member] | Commercial Loans [Member] | |||
Loans receivable, gross | 37 | 39 | |
Consumer Portfolio Segment [Member] | Doubtful [Member] | Commercial Loans [Member] | |||
Loans receivable, gross | 0 | 0 | |
Consumer Portfolio Segment [Member] | Loss [Member] | Commercial Loans [Member] | |||
Loans receivable, gross | 0 | 0 | |
State and Political Subdivisions [Member] | |||
Loans receivable, gross | 43,709 | 46,056 | $ 40,205 |
State and Political Subdivisions [Member] | Commercial Loans [Member] | |||
Loans receivable, gross | 43,709 | 46,056 | |
State and Political Subdivisions [Member] | Accruing Loans [Member] | |||
Loans receivable, gross | 0 | 0 | |
State and Political Subdivisions [Member] | Nonaccrual Loans [Member] | |||
Loans receivable, gross | 0 | 0 | |
State and Political Subdivisions [Member] | Subtotal, Other Loans [Member] | |||
Loans receivable, gross | 0 | 0 | |
State and Political Subdivisions [Member] | Pass [Member] | Commercial Loans [Member] | |||
Loans receivable, gross | 40,424 | 45,464 | |
State and Political Subdivisions [Member] | Special Mention [Member] | Commercial Loans [Member] | |||
Loans receivable, gross | 2,964 | 120 | |
State and Political Subdivisions [Member] | Substandard [Member] | Commercial Loans [Member] | |||
Loans receivable, gross | 321 | 472 | |
State and Political Subdivisions [Member] | Doubtful [Member] | Commercial Loans [Member] | |||
Loans receivable, gross | 0 | 0 | |
State and Political Subdivisions [Member] | Loss [Member] | Commercial Loans [Member] | |||
Loans receivable, gross | $ 0 | $ 0 |
Note 5 - Loans - Performing and
Note 5 - Loans - Performing and Non-performing Loan Delinquency Status (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Loans past due | $ 731,758 | $ 731,152 |
Performing Financial Instruments [Member] | ||
Loans past due | 729,524 | 727,364 |
Nonperforming Financial Instruments [Member] | ||
Loans past due | 2,234 | 3,788 |
Real Estate Loan [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 404,450 | 403,490 |
Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 1,997 | 3,247 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 143,478 | 129,482 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 782 | 1,214 |
Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 242,860 | 243,507 |
Construction, Land Acquisition and Development [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 18,112 | 30,501 |
Construction, Land Acquisition and Development [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 245 | 342 |
Commercial and Industrial [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 153,694 | 149,631 |
Commercial and Industrial [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 64 | 195 |
Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 127,671 | 128,187 |
Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 173 | 346 |
State and Political Subdivisions [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 43,709 | 46,056 |
State and Political Subdivisions [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 0 | 0 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 970 | 1,691 |
Financing Receivables, 1 to 29 Days Past Due [Member] | ||
Loans past due | 726,246 | 728,002 |
Financing Receivables, 1 to 29 Days Past Due [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 725,813 | 724,994 |
Financing Receivables, 1 to 29 Days Past Due [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 433 | 3,008 |
Financing Receivables, 1 to 29 Days Past Due [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 402,385 | 402,849 |
Financing Receivables, 1 to 29 Days Past Due [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 377 | 2,841 |
Financing Receivables, 1 to 29 Days Past Due [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 143,142 | 129,206 |
Financing Receivables, 1 to 29 Days Past Due [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 176 | 923 |
Financing Receivables, 1 to 29 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 241,477 | 243,168 |
Financing Receivables, 1 to 29 Days Past Due [Member] | Construction, Land Acquisition and Development [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 17,766 | 30,475 |
Financing Receivables, 1 to 29 Days Past Due [Member] | Construction, Land Acquisition and Development [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 342 | |
Financing Receivables, 1 to 29 Days Past Due [Member] | Commercial and Industrial [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 153,378 | 149,329 |
Financing Receivables, 1 to 29 Days Past Due [Member] | Commercial and Industrial [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 0 | 98 |
Financing Receivables, 1 to 29 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 126,341 | 126,760 |
Financing Receivables, 1 to 29 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 56 | 69 |
Financing Receivables, 1 to 29 Days Past Due [Member] | State and Political Subdivisions [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 43,709 | 46,056 |
Financing Receivables, 1 to 29 Days Past Due [Member] | State and Political Subdivisions [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 0 | 0 |
Financing Receivables, 1 to 29 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 201 | 1,576 |
Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Loans past due | 3,237 | 1,480 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 2,742 | 1,360 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 495 | 120 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 1,405 | 130 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 470 | 99 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 229 | 51 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 202 | 99 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 830 | 53 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Construction, Land Acquisition and Development [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 346 | 26 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Construction, Land Acquisition and Development [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 245 | 0 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial and Industrial [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 307 | 236 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial and Industrial [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 0 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 1,030 | 994 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 25 | 21 |
Financing Receivables, 30 to 59 Days Past Due [Member] | State and Political Subdivisions [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 0 | 0 |
Financing Receivables, 30 to 59 Days Past Due [Member] | State and Political Subdivisions [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 0 | 0 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 23 | 0 |
Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Loans past due | 988 | 1,172 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 969 | 1,010 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 19 | 162 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 660 | 511 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 17 | 159 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 107 | 225 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 17 | 44 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 553 | 286 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Construction, Land Acquisition and Development [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 0 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Construction, Land Acquisition and Development [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 0 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial and Industrial [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 9 | 66 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial and Industrial [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 0 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 300 | 433 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 2 | 3 |
Financing Receivables, 60 to 89 Days Past Due [Member] | State and Political Subdivisions [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 0 | 0 |
Financing Receivables, 60 to 89 Days Past Due [Member] | State and Political Subdivisions [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 0 | 0 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 115 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Loans past due | 1,287 | 498 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 0 | 0 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 1,287 | 498 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 0 | 0 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 1,133 | 148 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 0 | 0 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 387 | 148 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 0 | 0 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Construction, Land Acquisition and Development [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 0 | 0 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Construction, Land Acquisition and Development [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 0 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial and Industrial [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 0 | 0 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial and Industrial [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 64 | 97 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 0 | 0 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 90 | 253 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | State and Political Subdivisions [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 0 | 0 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | State and Political Subdivisions [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 0 | 0 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | $ 746 | $ 0 |
Note 5 - Loans - Impaired Loans
Note 5 - Loans - Impaired Loans (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Recorded investment, with no allowance recorded | $ 1,875 | $ 3,486 |
Unpaid principal balance, with no allowance recorded | 2,491 | 5,006 |
Recorded investment, with a related allowance recorded | 3,729 | 4,475 |
Unpaid principal balance, with a related allowance recorded | 3,729 | 4,475 |
Related allowance | 302 | 381 |
Recorded investment | 5,604 | 7,961 |
Unpaid principal balance | 6,220 | 9,481 |
Real Estate Loan [Member] | ||
Recorded investment, with no allowance recorded | 1,802 | 3,362 |
Unpaid principal balance, with no allowance recorded | 2,386 | 4,850 |
Recorded investment, with a related allowance recorded | 3,414 | 4,045 |
Unpaid principal balance, with a related allowance recorded | 3,414 | 4,045 |
Related allowance | 283 | 380 |
Recorded investment | 5,216 | 7,407 |
Unpaid principal balance | 5,800 | 8,895 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Recorded investment, with no allowance recorded | 386 | 1,042 |
Unpaid principal balance, with no allowance recorded | 477 | 1,138 |
Recorded investment, with a related allowance recorded | 1,543 | 1,888 |
Unpaid principal balance, with a related allowance recorded | 1,543 | 1,888 |
Related allowance | 29 | 92 |
Recorded investment | 1,929 | 2,930 |
Unpaid principal balance | 2,020 | 3,026 |
Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Recorded investment, with no allowance recorded | 1,066 | 1,850 |
Unpaid principal balance, with no allowance recorded | 1,143 | 2,868 |
Recorded investment, with a related allowance recorded | 1,871 | 1,981 |
Unpaid principal balance, with a related allowance recorded | 1,871 | 1,981 |
Related allowance | 254 | 287 |
Recorded investment | 2,937 | 3,831 |
Unpaid principal balance | 3,014 | 4,849 |
Construction, Land Acquisition and Development [Member] | Real Estate Loan [Member] | ||
Recorded investment, with no allowance recorded | 350 | 470 |
Unpaid principal balance, with no allowance recorded | 766 | 844 |
Recorded investment, with a related allowance recorded | 0 | 176 |
Unpaid principal balance, with a related allowance recorded | 0 | 176 |
Related allowance | 0 | 1 |
Recorded investment | 350 | 646 |
Unpaid principal balance | 766 | 1,020 |
Commercial and Industrial [Member] | ||
Recorded investment, with no allowance recorded | 73 | 124 |
Unpaid principal balance, with no allowance recorded | 105 | 156 |
Recorded investment, with a related allowance recorded | 18 | 79 |
Unpaid principal balance, with a related allowance recorded | 18 | 79 |
Related allowance | 18 | 0 |
Recorded investment | 91 | 203 |
Unpaid principal balance | 123 | 235 |
Consumer Portfolio Segment [Member] | ||
Recorded investment, with no allowance recorded | 0 | 0 |
Unpaid principal balance, with no allowance recorded | 0 | 0 |
Recorded investment, with a related allowance recorded | 297 | 351 |
Unpaid principal balance, with a related allowance recorded | 297 | 351 |
Related allowance | 1 | 1 |
Recorded investment | 297 | 351 |
Unpaid principal balance | 297 | 351 |
State and Political Subdivisions [Member] | ||
Recorded investment, with no allowance recorded | 0 | 0 |
Unpaid principal balance, with no allowance recorded | 0 | 0 |
Recorded investment, with a related allowance recorded | 0 | 0 |
Unpaid principal balance, with a related allowance recorded | 0 | 0 |
Related allowance | 0 | 0 |
Recorded investment | 0 | 0 |
Unpaid principal balance | $ 0 | $ 0 |
Note 5 - Loans - Average Balanc
Note 5 - Loans - Average Balance and Interest Income by Loan Category Recognized on Impaired Loans (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | ||
Average Balance | $ 6,928 | $ 11,087 | $ 9,545 | |
Interest Income | [1] | 202 | 258 | 235 |
Real Estate Loan [Member] | ||||
Average Balance | 6,345 | 10,557 | 9,126 | |
Interest Income | [1] | 190 | 245 | 224 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | ||||
Average Balance | 2,428 | 3,157 | 2,226 | |
Interest Income | [1] | 91 | 121 | 91 |
Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | ||||
Average Balance | 3,489 | 6,830 | 6,616 | |
Interest Income | [1] | 92 | 106 | 118 |
Construction, Land Acquisition and Development [Member] | Real Estate Loan [Member] | ||||
Average Balance | 428 | 570 | 284 | |
Interest Income | [1] | 7 | 18 | 15 |
Commercial and Industrial [Member] | ||||
Average Balance | 283 | 174 | 76 | |
Interest Income | [1] | 2 | 2 | |
Consumer Portfolio Segment [Member] | ||||
Average Balance | 300 | 356 | 343 | |
Interest Income | [1] | 10 | 11 | 11 |
State and Political Subdivisions [Member] | ||||
Average Balance | 0 | 0 | 0 | |
Interest Income | [1] | $ 0 | $ 0 | $ 0 |
[1] | Interest income represents income recognized on performing TDRs. |
Note 5 - Loans - Investment i60
Note 5 - Loans - Investment in Loans Modified as TDRs by Loan Category (Details) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | |
Financing Receivable, Modifications, Number of Contracts | 4 | 8 |
Pre-modification Outstanding Recorded Investments | $ 306 | $ 2,639 |
Post-modification Outstanding Recorded Investments | $ 310 | $ 1,744 |
Residential Portfolio Segment [Member] | ||
Financing Receivable, Modifications, Number of Contracts | 2 | 5 |
Pre-modification Outstanding Recorded Investments | $ 254 | $ 810 |
Post-modification Outstanding Recorded Investments | $ 258 | $ 827 |
Commercial Real Estate Portfolio Segment [Member] | ||
Financing Receivable, Modifications, Number of Contracts | 1 | |
Pre-modification Outstanding Recorded Investments | $ 1,654 | |
Post-modification Outstanding Recorded Investments | $ 742 | |
Construction, Land Acquisition and Development [Member] | ||
Financing Receivable, Modifications, Number of Contracts | 1 | |
Pre-modification Outstanding Recorded Investments | $ 96 | |
Post-modification Outstanding Recorded Investments | $ 96 | |
Commercial and Industrial [Member] | ||
Financing Receivable, Modifications, Number of Contracts | 2 | 1 |
Pre-modification Outstanding Recorded Investments | $ 52 | $ 79 |
Post-modification Outstanding Recorded Investments | $ 52 | $ 79 |
Consumer Portfolio Segment [Member] | ||
Financing Receivable, Modifications, Number of Contracts | ||
Pre-modification Outstanding Recorded Investments | ||
Post-modification Outstanding Recorded Investments | ||
State and Political Subdivisions [Member] | ||
Financing Receivable, Modifications, Number of Contracts | ||
Pre-modification Outstanding Recorded Investments | ||
Post-modification Outstanding Recorded Investments |
Note 5 - Loans - Types of Modif
Note 5 - Loans - Types of Modifications (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Extended Maturity [Member] | ||
Financing receivable, modifications | $ 211 | $ 806 |
Extended Maturity and Capitalization of Taxes [Member] | ||
Financing receivable, modifications | 95 | 100 |
Capitalization of Taxes [Member] | ||
Financing receivable, modifications | 1,733 | |
Principal Forbearance [Member] | ||
Financing receivable, modifications | 306 | 2,639 |
Residential Portfolio Segment [Member] | Extended Maturity [Member] | ||
Financing receivable, modifications | 159 | 710 |
Residential Portfolio Segment [Member] | Extended Maturity and Capitalization of Taxes [Member] | ||
Financing receivable, modifications | 95 | 100 |
Residential Portfolio Segment [Member] | Capitalization of Taxes [Member] | ||
Financing receivable, modifications | ||
Residential Portfolio Segment [Member] | Principal Forbearance [Member] | ||
Financing receivable, modifications | 254 | 810 |
Commercial Real Estate Portfolio Segment [Member] | Extended Maturity [Member] | ||
Financing receivable, modifications | ||
Commercial Real Estate Portfolio Segment [Member] | Extended Maturity and Capitalization of Taxes [Member] | ||
Financing receivable, modifications | ||
Commercial Real Estate Portfolio Segment [Member] | Capitalization of Taxes [Member] | ||
Financing receivable, modifications | 1,654 | |
Commercial Real Estate Portfolio Segment [Member] | Principal Forbearance [Member] | ||
Financing receivable, modifications | 1,654 | |
Construction, Land Acquisition and Development [Member] | Extended Maturity [Member] | ||
Financing receivable, modifications | 96 | |
Construction, Land Acquisition and Development [Member] | Extended Maturity and Capitalization of Taxes [Member] | ||
Financing receivable, modifications | ||
Construction, Land Acquisition and Development [Member] | Capitalization of Taxes [Member] | ||
Financing receivable, modifications | ||
Construction, Land Acquisition and Development [Member] | Principal Forbearance [Member] | ||
Financing receivable, modifications | 96 | |
Commercial and Industrial [Member] | Extended Maturity [Member] | ||
Financing receivable, modifications | 52 | |
Commercial and Industrial [Member] | Extended Maturity and Capitalization of Taxes [Member] | ||
Financing receivable, modifications | ||
Commercial and Industrial [Member] | Capitalization of Taxes [Member] | ||
Financing receivable, modifications | 79 | |
Commercial and Industrial [Member] | Principal Forbearance [Member] | ||
Financing receivable, modifications | 52 | 79 |
Consumer Portfolio Segment [Member] | Extended Maturity [Member] | ||
Financing receivable, modifications | ||
Consumer Portfolio Segment [Member] | Extended Maturity and Capitalization of Taxes [Member] | ||
Financing receivable, modifications | ||
Consumer Portfolio Segment [Member] | Capitalization of Taxes [Member] | ||
Financing receivable, modifications | ||
Consumer Portfolio Segment [Member] | Principal Forbearance [Member] | ||
Financing receivable, modifications | ||
State and Political Subdivisions [Member] | Extended Maturity [Member] | ||
Financing receivable, modifications | ||
State and Political Subdivisions [Member] | Extended Maturity and Capitalization of Taxes [Member] | ||
Financing receivable, modifications | ||
State and Political Subdivisions [Member] | Capitalization of Taxes [Member] | ||
Financing receivable, modifications | ||
State and Political Subdivisions [Member] | Principal Forbearance [Member] | ||
Financing receivable, modifications |
Note 5 - Loans - TDRs with Subs
Note 5 - Loans - TDRs with Subsequent Default (Details) | 12 Months Ended |
Dec. 31, 2016USD ($) | |
Number of Contracts | 4 |
Recorded Investment | $ 787 |
Number of Contracts | 4 |
Residential Portfolio Segment [Member] | |
Number of Contracts | 3 |
Recorded Investment | $ 107,000 |
Number of Contracts | 3 |
Commercial Real Estate Portfolio Segment [Member] | |
Number of Contracts | 1 |
Recorded Investment | $ 680,000 |
Number of Contracts | 1 |
Construction, Land Acquisition and Development [Member] | |
Number of Contracts | |
Recorded Investment | |
Number of Contracts | |
Commercial and Industrial [Member] | |
Number of Contracts | |
Recorded Investment | |
Number of Contracts | |
Consumer Portfolio Segment [Member] | |
Number of Contracts | |
Recorded Investment | |
Number of Contracts | |
State and Political Subdivisions [Member] | |
Number of Contracts | |
Recorded Investment | |
Number of Contracts |
Note 6 - Bank Premises and Eq63
Note 6 - Bank Premises and Equipment (Details Textual) - USD ($) $ in Thousands | Jan. 24, 2014 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Depreciation | $ 1,300 | $ 1,200 | $ 1,300 | |
Proceeds from Sale of Property, Plant, and Equipment | $ 2,300 | |||
Gain (Loss) on Sale of Properties | $ 181 | |||
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property | $ 607 |
Note 6 - Bank Premises and Eq64
Note 6 - Bank Premises and Equipment - Property, Plant, and Equipment, Net (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Property, plant, and equipment, gross | $ 27,916 | $ 27,818 |
Accumulated depreciation | (17,132) | (16,625) |
Net | 10,784 | 11,193 |
Land [Member] | ||
Property, plant, and equipment, gross | 2,757 | 2,731 |
Building and Building Improvements [Member] | ||
Property, plant, and equipment, gross | 7,676 | 7,406 |
Furniture and Fixtures [Member] | ||
Property, plant, and equipment, gross | 12,299 | 12,674 |
Leasehold Improvements [Member] | ||
Property, plant, and equipment, gross | $ 5,184 | $ 5,007 |
Note 7 - Deposits (Details Text
Note 7 - Deposits (Details Textual) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Deposit Liabilities Reclassified as Loans Receivable | $ 80 | $ 69 |
Investment Securities Pledged as Collateral for Municipal Deposits | 271,300 | 252,400 |
Deposit Liabilities Received on Terms Other than Normal Business | 0 | 0 |
Federal Home Loan Bank of Pittsburgh [Member] | ||
Letters of Credit Outstanding, Amount | $ 75,000 | $ 0 |
Note 7 - Deposits - Summary of
Note 7 - Deposits - Summary of Deposits (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Demand (non-interest-bearing) | $ 173,702 | $ 154,531 |
Interest-bearing demand | 551,114 | 364,303 |
Savings | 103,241 | 92,890 |
Time ($250,000 and over) | 35,917 | 30,290 |
Other time | 151,165 | 179,532 |
Total interest-bearing | 841,437 | 667,015 |
Total deposits | $ 1,015,139 | $ 821,546 |
Note 7 - Deposits - Summary o67
Note 7 - Deposits - Summary of Maturities of Time Deposits (Details) $ in Thousands | Dec. 31, 2016USD ($) |
2,017 | $ 124,324 |
2,018 | 37,574 |
2,019 | 9,967 |
2,020 | 8,322 |
2,021 | 6,845 |
2022 and thereafter | 50 |
Total | 187,082 |
Time Deposits $250,000 and Over [Member] | |
2,017 | 25,137 |
2,018 | 7,015 |
2,019 | 3,111 |
2,020 | 254 |
2,021 | 400 |
2022 and thereafter | |
Total | 35,917 |
Time Deposits Less Than $250,000 [Member] | |
2,017 | 99,187 |
2,018 | 30,559 |
2,019 | 6,856 |
2,020 | 8,068 |
2,021 | 6,445 |
2022 and thereafter | 50 |
Total | $ 151,165 |
Note 8 - Borrowed Funds (Detail
Note 8 - Borrowed Funds (Details Textual) - USD ($) $ in Thousands | Dec. 01, 2016 | Jun. 30, 2015 | Dec. 14, 2006 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Jun. 30, 2016 | Jul. 01, 2015 | Sep. 01, 2009 |
Advances from Federal Home Loan Banks | $ 58,537 | $ 135,802 | |||||||
Line of Credit Facility, Maximum Month-end Outstanding Amount | 145,100 | 160,100 | |||||||
Junior Subordinated Debenture Owed to Unconsolidated Subsidiary Trust | $ 10,310 | $ 10,310 | |||||||
Debt Instrument, Interest Rate During Period | 2.35% | 1.99% | 1.93% | ||||||
Interest Paid, Net | $ 884 | ||||||||
Interest Payable | $ 242 | $ 11,165 | |||||||
Repayments of Subordinated Debt | $ 11,000 | ||||||||
Subordinated Debt | $ 14,000 | 10,000 | 14,000 | $ 25,000 | |||||
Debentures [Member] | |||||||||
Interest Payable | 13 | 11 | |||||||
Notes [Member] | |||||||||
Interest Payable | $ 39 | $ 10,900 | |||||||
Federal Home Loan Bank Advances [Member] | Minimum [Member] | |||||||||
Debt Instrument, Term | 270 days | ||||||||
Federal Home Loan Bank Advances [Member] | Maximum [Member] | |||||||||
Debt Instrument, Term | 15 years | ||||||||
Trust Preferred Securities [Member] | First National Community Statutory Trust 1 [Member] | |||||||||
Proceeds from Issuance of Trust Preferred Securities | $ 10,000 | ||||||||
Long-term Debt, Percentage Bearing Variable Interest, Percentage Rate | 7.02% | ||||||||
Trust Preferred Securities [Member] | First National Community Statutory Trust 1 [Member] | London Interbank Offered Rate (LIBOR) [Member] | |||||||||
Debt Instrument, Basis Spread on Variable Rate | 1.67% | ||||||||
Junior Subordinated Debt [Member] | First National Community Statutory Trust 1 [Member] | |||||||||
Junior Subordinated Debenture Owed to Unconsolidated Subsidiary Trust | $ 10,300 | ||||||||
Debt Instrument, Interest Rate, Stated Percentage | 7.02% | ||||||||
Subordinated Debt [Member] | |||||||||
Debt Instrument, Interest Rate, Stated Percentage | 9.00% | 9.00% | 4.50% | ||||||
Percent of Principal Amount Outstanding, Prepayment | 44.00% | ||||||||
Repayments of Subordinated Debt | $ 4,000 | ||||||||
Subordinated Debt [Member] | First Payment [Member] | |||||||||
Percent of Principal Amount Outstanding to Be Repaid | 16.00% | ||||||||
Debt Instrument Principal Amount Payable | $ 4,000 | ||||||||
Subordinated Debt [Member] | Second Payment [Member] | |||||||||
Percent of Principal Amount Outstanding to Be Repaid | 20.00% | ||||||||
Debt Instrument Principal Amount Payable | $ 5,000 | ||||||||
Subordinated Debt [Member] | Final Payment [Member] | |||||||||
Percent of Principal Amount Outstanding to Be Repaid | 20.00% | ||||||||
Debt Instrument Principal Amount Payable | $ 5,000 | ||||||||
Subordinated Debt [Member] | Maximum [Member] | |||||||||
Interest Payable | $ 11,000 | ||||||||
Debt Instrument, Face Amount | $ 25,000 | ||||||||
Federal Home Loan Bank of Pittsburgh [Member] | |||||||||
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Collateral Pledged | 427,800 | 377,500 | |||||||
Federal Home Loan Bank, Advances, General Debt Obligations, Maximum Amount Available | 298,100 | ||||||||
Advances from Federal Home Loan Banks | 58,500 | ||||||||
Letters of Credit Outstanding, Amount | 75,000 | $ 0 | |||||||
Federal Funds Purchased [Member] | |||||||||
Line of Credit Facility, Maximum Borrowing Capacity | 20,000 | ||||||||
Federal Reserve Bank Advances [Member] | |||||||||
Line of Credit Facility, Maximum Borrowing Capacity | 14,400 | ||||||||
Loans Pledged as Collateral | $ 25,900 |
Note 8 - Borrowed Funds - Compo
Note 8 - Borrowed Funds - Components of Borrowed Funds (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | Jun. 30, 2015 | Dec. 31, 2014 |
Federal Home Loan Bank of Pittsburgh advances - overnight | $ 60,500 | |||
Federal Home Loan Bank of Pittsburgh advances - term | 58,537 | 75,302 | ||
Subordinated debentures | 10,000 | 14,000 | $ 14,000 | $ 25,000 |
Junior subordinated debentures | 10,310 | 10,310 | ||
Total | $ 78,847 | $ 160,112 |
Note 8 - Borrowed Funds - Borro
Note 8 - Borrowed Funds - Borrowed Funds by Maturity Date (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Within one year, Amount | $ 47,553 | |
Within one year, Weighted average interest rate | 0.68% | |
After one year but within two years, Amount | $ 10,000 | |
After one year but within two years, Weighted average interest rate | 2.77% | |
After two years but within three years, Amount | $ 10,984 | |
After two years but within three years, Weighted average interest rate | 3.26% | |
After three years but within four years, Amount | ||
After three years but within four years, Weighted average interest rate | ||
After four years but within five years, Amount | ||
After four years but within five years, Weighted average interest rate | ||
After five years, Amount | $ 10,310 | |
After five years, Weighted average interest rate | 2.39% | |
Total, Amount | $ 78,847 | $ 160,112 |
Total, Weighted average interest rate | 1.53% |
Note 9 - Benefit Plans (Details
Note 9 - Benefit Plans (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Deferred Compensation Liability, Current and Noncurrent | $ 3,100 | $ 3,100 | |
Supplemental Executive Retirement Plan [Member] | |||
Retirement Plan, Annual, Accrued Unfunded Contributions | 147 | 130 | |
Other Postretirement Benefits Payable | 277 | 130 | |
Pension Plan [Member] | |||
Defined Contribution Plan, Employer Discretionary Contribution Amount | $ 168 | $ 149 | $ 134 |
Note 10 - Income Taxes (Details
Note 10 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 34.00% | 34.00% | 34.00% |
Operating Loss Carryforwards | $ 50,400 | $ 55,600 | |
Deferred Tax Assets, Operating Loss Carryforwards | 17,123 | 18,910 | |
Charitable Contribution Carryovers | 690 | 1,000 | |
Deferred Tax Assets, Charitable Contribution Carryforwards | 235 | 355 | |
Deferred Tax Assets, Tax Credit Carryforwards, Alternative Minimum Tax | 2,600 | 2,466 | |
Deferred Tax Assets, Valuation Allowance | 355 | ||
Deferred Tax Assets, Charitable Contribution Utilized | $ 353 | ||
Charitable Contribution [Member] | |||
Deferred Tax Assets, Valuation Allowance | 355 | ||
AMT Credit [Member] | |||
Tax Credit Carryforward, Amount | $ 2,500 |
Note 10 - Income Taxes - Compon
Note 10 - Income Taxes - Components of Income Tax (Benefit) Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Current | $ 134 | $ (75) | $ 326 | ||||||||
Deferred | 1,968 | 2,297 | 3,799 | ||||||||
Change in valuation allowance | (355) | (29,981) | (3,799) | ||||||||
Income tax expense (benefit) | $ 136 | $ 724 | $ 661 | $ 226 | $ (27,719) | $ 22 | $ (62) | $ 1,747 | $ (27,759) | $ 326 |
Note 10 - Income Taxes - Effect
Note 10 - Income Taxes - Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Provision at statutory tax rates | $ 2,739 | $ 2,748 | $ 4,674 | ||||||||
Tax effects of non-taxable income | (481) | (483) | (1,087) | ||||||||
Non-deductible interest expense | 9 | 11 | 21 | ||||||||
Bank-owned life insurance | (187) | (192) | (221) | ||||||||
Change in valuation allowance | (355) | (29,981) | (3,799) | ||||||||
Regulatory penalties | 570 | ||||||||||
Other items, net | 22 | 138 | 168 | ||||||||
Income tax expense (benefit) | $ 136 | $ 724 | $ 661 | $ 226 | $ (27,719) | $ 22 | $ (62) | $ 1,747 | $ (27,759) | $ 326 |
Note 10 - Income Taxes - Net De
Note 10 - Income Taxes - Net Deferred Tax Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Allowance for loan and lease losses | $ 2,961 | $ 3,105 |
Deferred compensation | 1,242 | 1,171 |
Unrealized holding losses on securities available-for-sale | 919 | 123 |
Other real estate owned valuation | 233 | 265 |
Deferred intangible assets | 997 | 1,189 |
Employee benefits | 272 | 258 |
Accrued interest | 199 | |
AMT tax credits | 2,600 | 2,466 |
Charitable contribution carryover | 235 | 355 |
Accrued rent expense | 157 | 217 |
Accrued vacation | 55 | 83 |
Accrued legal settlement costs | 941 | 923 |
Deferred income | 81 | 96 |
Net operating loss carryover | 17,123 | 18,910 |
Gross deferred tax assets | 27,816 | 29,360 |
Deferred loan origination costs | (551) | (1,074) |
Accrued interest | (193) | |
Prepaid expenses | (74) | (73) |
Depreciation | (8) | (51) |
Gross deferred tax liabilities | (826) | (1,198) |
Net deferred asset before valuation allowance | 26,990 | 28,162 |
Valuation allowance | (355) | |
Net deferred tax assets | $ 26,990 | $ 27,807 |
Note 11 - Related Party Trans76
Note 11 - Related Party Transactions (Details Textual) | Dec. 01, 2016USD ($) | Mar. 01, 2016USD ($) | Jun. 30, 2015USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | Jun. 30, 2016 | Jul. 01, 2015 |
Loans and Leases Receivable, Net Amount | $ 725,860,000 | $ 724,926,000 | ||||||
Subordinated Debt | $ 14,000,000 | 10,000,000 | $ 14,000,000 | $ 25,000,000 | ||||
Number of Noteholders Electing to Sell Subordinated Notes | 7 | |||||||
Subordinated Notes of Nonrelated Parties Purchased by Group | $ 10,000,000 | |||||||
Repayments of Subordinated Debt | $ 11,000,000 | |||||||
Subordinated Liabilities, Extinguished | 4,000,000 | 11,000,000 | ||||||
Related Party Transaction, Interest Paid | $ 4,000,000 | |||||||
Related Party Transaction, Payments of Previously Deferred and Accrued Interest | $ 10,800,000 | |||||||
Subordinated Debt [Member] | ||||||||
Debt Instrument, Interest Rate, Stated Percentage | 9.00% | 9.00% | 4.50% | |||||
Percent of Principal Amount Outstanding, Prepayment | 44.00% | |||||||
Repayments of Subordinated Debt | 4,000,000 | |||||||
Director [Member] | ||||||||
Loans and Leases Receivable, Net Amount | 381 | |||||||
Related Party Transaction, Amount of Participation Interest | 5,200,000 | |||||||
Related Party Transaction, Amount of Participation Interest Outstanding | $ 4,400,000 | |||||||
Director [Member] | Annual Servicing Fee on Participation Balance [Member] | ||||||||
Related Party Transaction, Rate | 0.25% | |||||||
Director [Member] | Line of Credit [Member] | Commercial Loan [Member] | ||||||||
Loans and Leases Receivable, Net Amount | $ 11,000,000 | |||||||
Directors, Executive Officers and Their Related Parties [Member] | ||||||||
Related Party Deposit Liabilities | 119,300,000 | 106,100,000 | ||||||
Related Party Transactions, Interest Paid on Deposits | 196,000 | 276,000 | 97,000 | |||||
Related Party Transaction, Expenses from Transactions with Related Party | 2,600,000 | 2,100,000 | $ 2,700,000 | |||||
Related Party Transactions, Subordinated Debt | 6,200,000 | 8,600,000 | ||||||
Subordinated Liabilities, Extinguished | $ 6,800,000 | |||||||
Related Party Transaction, Interest Paid | $ 2,500,000 | 395,000 | 233,000 | |||||
Related Party Transaction, Payments of Previously Deferred and Accrued Interest | $ 3,900,000 | |||||||
Interest Expense, Related Party | 386,000 | 606,000 | ||||||
Related Party Transactions Interest Accrued and Unpaid | $ 24,000 | $ 3,900,000 | ||||||
Related Party Noteholders [Member] | ||||||||
Debt Instrument, Face Amount | 6,400,000 | |||||||
Repayments of Subordinated Debt | 11,000,000 | |||||||
Subordinated Liabilities, Additions | $ 6,400,000 |
Note 11 - Related Party Trans77
Note 11 - Related Party Transactions - Related Party Loans (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | ||
Balance | $ 52,652 | $ 36,783 | |
Additions, new loans and advances | 24,917 | 65,411 | |
Repayments | (35,513) | (48,852) | |
Other (1) | [1] | (49) | (690) |
Balance | $ 42,007 | $ 52,652 | |
[1] | Other represents loans to related parties that ceased being related parties during the year |
Note 11 - Related Party Trans78
Note 11 - Related Party Transactions - Subordinated Notes (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2016 | Dec. 31, 2015 |
Balance | $ 14,000 | $ 25,000 | |
Assignments | |||
Principal reductions | (4,000) | (11,000) | |
Balance | $ 14,000 | 10,000 | 14,000 |
Related Party Noteholders [Member] | |||
Balance | 8,640 | 9,000 | |
Assignments | 6,429 | ||
Principal reductions | (2,469) | (6,789) | |
Balance | 6,171 | 8,640 | |
Other Noteholders [Member] | |||
Balance | 5,360 | 16,000 | |
Assignments | (6,429) | ||
Principal reductions | (1,531) | (4,211) | |
Balance | $ 3,829 | $ 5,360 |
Note 12 - Commitments, Contin79
Note 12 - Commitments, Contingencies and Concentrations (Details Textual) - USD ($) $ in Thousands | Apr. 01, 2014 | Mar. 28, 2014 | Dec. 13, 2016 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Feb. 04, 2014 | Dec. 31, 2013 |
Operating Leases, Rent Expense, Net | $ 456 | $ 795 | $ 660 | |||||
Reserves for Unfunded Commitments | $ 249 | 300 | ||||||
Minimum Percentage of Credit Enhancement Guarantee to FHLB for Foreclosure Losses of Original Loan Principal Sold | 1.00% | |||||||
Payments Serviced for Federal Home Loan Bank | $ 7,600 | |||||||
Maximum Obligation for Guarantees to Federal Home Loan Bank if Aggregate Foreclosure Losses on Pool of Loans Exceeds Specified Amount | 325,000 | |||||||
Maximum Amount of Aggregate Foreclosure Losses on Entire Pool of Loans | 60 | |||||||
FDIC Insurance Limit on Deposit Accounts | 250 | 250 | ||||||
Loans and Leases Receivable, Gross | 731,758 | 731,152 | $ 669,494 | |||||
Derivative Liability | $ 5,000 | |||||||
Litigation Settlement, Amount | $ 5,000 | |||||||
Accrued Liabilities and Other Liabilities | $ 2,500 | |||||||
Litigation Settlement Fees and Costs | $ 2,500 | |||||||
Partial Indemnification, Individual Defendants Paid | 2,500 | |||||||
Cash Due from Bank Accounts in Excess of FDIC Insured Amount | 0 | $ 0 | ||||||
Commercial Real Estate, Construction Land Acquisition, and Development Loans Portfolio [Member] | Financing Receivable [Member] | Credit Concentration Risk [Member] | ||||||||
Loans and Leases Receivable, Gross | $ 262,200 | |||||||
Loans and Leases Receivable as Percentage of Aggregate Gross Loans and Leases Receivable | 35.80% | |||||||
Commercial Real Estate, Construction Land Acquisition, and Development Loans Portfolio [Member] | Financing Receivable [Member] | Geographic Concentration Risk [Member] | ||||||||
Loans and Leases Receivable, Gross | $ 25,700 | |||||||
Loans and Leases Receivable as Percentage of Aggregate Gross Loans and Leases Receivable | 3.50% |
Note 12 - Commitments, Contin80
Note 12 - Commitments, Contingencies and Concentrations - Minimum Future Lease Obligations (Details) $ in Thousands | Dec. 31, 2016USD ($) |
2,017 | $ 560 |
2,018 | 248 |
2,019 | 163 |
2,020 | 116 |
2,021 | 89 |
2022 and thereafter | 206 |
Total | 1,382 |
Facilities [Member] | |
2,017 | 519 |
2,018 | 220 |
2,019 | 136 |
2,020 | 111 |
2,021 | 89 |
2022 and thereafter | 206 |
Total | 1,281 |
Equipment [Member] | |
2,017 | 41 |
2,018 | 28 |
2,019 | 27 |
2,020 | 5 |
2,021 | |
2022 and thereafter | |
Total | $ 101 |
Note 12 - Commitments, Contin81
Note 12 - Commitments, Contingencies and Concentrations (Details) - Fair Value of Off-balance Sheet Risks (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Commitments to Extend Credit [Member] | ||
Off-balance sheet risks, fair value | $ 150,111 | $ 170,465 |
Standby Letters of Credit [Member] | ||
Off-balance sheet risks, fair value | $ 21,220 | $ 22,092 |
Note 12 - Commitments, Contin82
Note 12 - Commitments, Contingencies and Concentrations - Summary of Loan Concentration Risk (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Loans receivable, gross | $ 731,758 | $ 731,152 | $ 669,494 |
Credit Concentration Risk [Member] | Retail Space/Shopping Centers [Member] | |||
Loans receivable, gross | $ 38,573 | $ 35,292 | |
Loans and Leases receivable, Percentage of Gross Loans | 5.27% | 4.83% | |
Credit Concentration Risk [Member] | Automobile Dealers [Member] | |||
Loans receivable, gross | $ 31,989 | $ 34,594 | |
Loans and Leases receivable, Percentage of Gross Loans | 4.37% | 4.73% | |
Credit Concentration Risk [Member] | The 1-4 Family Residential Investment Properties [Member] | |||
Loans receivable, gross | $ 24,413 | $ 18,957 | |
Loans and Leases receivable, Percentage of Gross Loans | 3.34% | 2.59% |
Note 13 - Stock Compensation 83
Note 13 - Stock Compensation Plans/Subsequent Event (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | Mar. 01, 2017 | Mar. 01, 2016 | Nov. 25, 2015 | Mar. 01, 2015 | Dec. 01, 2014 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Oct. 29, 2014 | Oct. 23, 2013 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 0 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award Options, Total Cost | $ 68 | $ 77 | ||||||||
Allocated Share-based Compensation Expense | ||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | 0 | 0 | 0 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | $ 0 | 0 | 0 | |||||||
The 2000 Employee Stock Incentive Plan [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 180 days | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | |||||||||
Allocated Share-based Compensation Expense | $ 0 | 0 | 0 | |||||||
Long-Term Incentive Compensation Plan [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 1,200,000 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 1,026,752 | |||||||||
Allocated Share-based Compensation Expense | $ 265 | 247 | 93 | |||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 396 | $ 453 | $ 214 | |||||||
Employee Stock Option [Member] | The 2000 Employee Stock Incentive Plan [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 1,100,000 | |||||||||
Employee Stock Option [Member] | The 2014 Employee Stock Grant Plan [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 13,500 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options Grants in Period, Gross per Employee | 50 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 12,850 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 6.02 | |||||||||
Employee Stock Option [Member] | The 2015 Stock Option Grant Plan [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 13,550 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options Grants in Period, Gross per Employee | 50 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 13,300 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 5.15 | |||||||||
Restricted Stock [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 67,600 | 84,900 | 45,750 | |||||||
Restricted Stock [Member] | Long-Term Incentive Compensation Plan [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 67,600 | 84,900 | 45,750 | |||||||
Restricted Stock [Member] | Long-Term Incentive Compensation Plan [Member] | Subsequent Event [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 54,549 |
Note 13 - Stock Compensation 84
Note 13 - Stock Compensation Plans/Subsequent Event - Stock Option Plans (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Stock options outstanding, Shares (in shares) | 50,746 | 64,479 | 82,598 |
Stock options outstanding, Weighted average exercise price (in dollars per share) | $ 15.20 | $ 15.87 | $ 15.98 |
Granted, Shares (in shares) | 0 | ||
Granted, Weighted average exercise price (in dollars per share) | |||
Exercised, Shares (in shares) | |||
Exercised, Weighted average exercise price (in dollars per share) | |||
Forfeited, Shares (in shares) | (13,046) | (13,733) | (18,119) |
Forfeited, Weighted average exercise price (in dollars per share) | $ 21.14 | $ 18.33 | $ 16.37 |
Stock options outstanding, Shares (in shares) | 37,700 | 50,746 | 64,479 |
Stock options outstanding, Weighted average exercise price (in dollars per share) | $ 13.15 | $ 15.20 | $ 15.87 |
Options exercisable at year end, Shares (in shares) | 37,700 | 50,746 | 64,479 |
Options exercisable at year end, Weighted average exercise price (in dollars per share) | $ 13.15 | $ 15.20 | $ 15.87 |
Stock-based compensation expense, Shares |
Note 13 - Stock Compensation 85
Note 13 - Stock Compensation Plans/Subsequent Event - Options Outstanding (Details) | 12 Months Ended |
Dec. 31, 2016$ / sharesshares | |
Lower range of exercise price (in dollars per share) | $ 10.81 |
Upper range of exercise price (in dollars per share) | $ 16.90 |
Options Outstanding, Number (in shares) | shares | 37,700 |
Options Outstanding, Weighted average remaining contractual life (Year) | 1 year 208 days |
Options Outstanding, Weighted average exercise price (in dollars per share) | $ 13.15 |
Options Exercisable, Number (in shares) | shares | 37,700 |
Options Exercisable, Weighted average exercise price (in dollars per share) | $ 13.15 |
Note 13 - Stock Compensation 86
Note 13 - Stock Compensation Plans/Subsequent Event - Stock Compensation Plans (Details) - Restricted Stock [Member] - $ / shares | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Unvested unrestricted stock awards (in shares) | 112,958 | 45,750 | |
Unvested unrestricted stock awards, Weighted average grant date fair value (in dollars per share) | $ 5.99 | $ 6.70 | |
Awards granted (in shares) | 67,600 | 84,900 | 45,750 |
Awards granted, Weighted average grant date fair value (in dollars per share) | $ 5.53 | $ 5.75 | $ 6.70 |
Forfeitures (in shares) | (23,836) | (1,166) | |
Forfeitures, Weighted average grant date fair value (in dollars per share) | $ 5.69 | $ 6.70 | |
Vestings (in shares) | (52,848) | (16,526) | |
Vestings, Weighted average grant date fair value (in dollars per share) | $ 6.02 | $ 6.70 | |
Unvested unrestricted stock awards (in shares) | 103,874 | 112,958 | 45,750 |
Unvested unrestricted stock awards, Weighted average grant date fair value (in dollars per share) | $ 5.74 | $ 5.99 | $ 6.70 |
Note 14 - Regulatory Matters_87
Note 14 - Regulatory Matters/Subsequent Event (Details Textual) - $ / shares | Jan. 25, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Common Stock, Dividends, Per Share, Declared | $ 0.09 | ||||
Common Stock, Dividends, Per Share, Cash Paid | $ 0.09 | ||||
Stock Issued During Period, Shares, Dividend Reinvestment Plan | 78,752 | ||||
Capital to Risk Weighted Assets | 8.00% | 8.00% | |||
Tier One Risk Based Capital to Risk Weighted Assets | 6.00% | 4.00% | |||
Common Equity Tier One Capital to Risk Weighted Assets | 4.50% | ||||
Tier One Leverage Capital to Average Assets | 4.00% | ||||
Common Equity Tier One Capital Conservation Buffer Implementation of Deductions and Other Adjustments to Common Equity Tier One Capital Phase in Percentage Year | 40.00% | ||||
Common Equity Tier One Capital Conservation Buffer Implementation of Deductions and Other Adjustments to Common Equity Tier One Capital Phase in Percentage Year 2 | 60.00% | ||||
Common Equity Tier One Capital Conservation Buffer Implementation of Deductions and Other Adjustments to Common Equity Tier One Capital Phase in Percentage After Year Two | 20.00% | ||||
Capital Required to be Well Capitalized to Risk Weighted Assets | 10.00% | 10.00% | [1] | 10.00% | |
Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets | 8.00% | 8.00% | [1] | 6.00% | |
Common Equity Tier One Capital Required to Be Well Capitalized to Risk-weighted Assets | 6.50% | 6.50% | [1] | ||
Tier One Leverage Capital Required to be Well Capitalized to Average Assets | 5.00% | 5.00% | [1] | ||
Effective January 2016 [Member] | |||||
Common Equity Tier One Capital Conservation Buffer | 0.625% | ||||
Effective January 2019 [Member] | |||||
Common Equity Tier One Capital Conservation Buffer | 2.50% | ||||
Subsequent Event [Member] | |||||
Common Stock, Dividends, Per Share, Declared | $ 0.03 | ||||
[1] | Applies to the Bank only. |
Note 14 - Regulatory Matters_88
Note 14 - Regulatory Matters/Subsequent Event - Risk-based Capital and Related Ratios (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Total capital (to risk-weighted assets), Ratio | 8.00% | 8.00% | ||
Total capital (to risk-weighted assets), Minimum required for capital adequacy purposes | 8.00% | 8.00% | ||
Total capital (to risk-weighted assets), Minimum required for capital adequacy purposes with conservation buffer | 8.625% | |||
Total capital (to risk-weighted assets), To be well capitalized under prompt corrective action | 10.00% | 10.00% | [1] | 10.00% |
Tier I capital (to risk-weighted assets), Ratio | 6.00% | 4.00% | ||
Tier I capital (to risk-weighted assets), Minimum required for capital adequacy purposes | 6.00% | 6.00% | ||
Tier I capital (to risk-weighted assets), Minimum required for capital adequacy purposes with conservation buffer | 6.625% | |||
Tier I capital (to risk-weighted assets), To be well capitalized under prompt corrective action | 8.00% | 8.00% | [1] | 6.00% |
Tier I common equity (to risk-weighted assets), Ratio | 4.50% | |||
Tier I common equity (to risk-weighted assets), Minimum required for capital adequacy purposes | 4.50% | 4.50% | ||
Tier I common equity (to risk-weighted assets), Minimum required for capital adequacy purposes with conservation buffer | 5.125% | |||
Tier I common equity (to risk-weighted assets), To be well capitalized under prompt corrective action | 6.50% | 6.50% | [1] | |
Tier I capital (to average assets), Ratio | 4.00% | |||
Tier I capital (to average assets), Minimum required for capital adequacy purposes | 4.00% | 4.00% | ||
Tier I capital (to average assets), Minimum required for capital adequacy purposes with conservation buffer | 4.00% | |||
Tier I capital (to average assets), To be well capitalized under prompt corrective action | 5.00% | 5.00% | [1] | |
Parent Company [Member] | ||||
Total capital (to risk-weighted assets), Amount | $ 96,827 | $ 93,835 | ||
Total capital (to risk-weighted assets), Ratio | 12.06% | 11.79% | ||
Tier I capital (to risk-weighted assets), Amount | $ 82,159 | $ 74,945 | ||
Tier I capital (to risk-weighted assets), Ratio | 10.23% | 9.42% | ||
Tier I common equity (to risk-weighted assets), Amount | $ 80,049 | $ 74,945 | ||
Tier I common equity (to risk-weighted assets), Ratio | 9.97% | 9.42% | ||
Tier I capital (to average assets), Amount | $ 82,159 | $ 74,945 | ||
Tier I capital (to average assets), Ratio | 7.53% | 7.27% | ||
Total risk-weighted assets, Amount | $ 803,026 | $ 795,887 | ||
Total average assets, Amount | 1,090,665 | 1,031,426 | ||
Subsidiaries [Member] | ||||
Total capital (to risk-weighted assets), Amount | $ 102,786 | $ 110,039 | ||
Total capital (to risk-weighted assets), Ratio | 12.81% | 13.83% | ||
Tier I capital (to risk-weighted assets), Amount | $ 94,118 | $ 100,949 | ||
Tier I capital (to risk-weighted assets), Ratio | 11.73% | 12.69% | ||
Tier I common equity (to risk-weighted assets), Amount | $ 94,118 | $ 100,949 | ||
Tier I common equity (to risk-weighted assets), Ratio | 11.73% | 12.69% | ||
Tier I capital (to average assets), Amount | $ 94,118 | $ 100,949 | ||
Tier I capital (to average assets), Ratio | 8.63% | 9.79% | ||
Total risk-weighted assets, Amount | $ 802,610 | $ 795,490 | ||
Total average assets, Amount | $ 1,090,550 | $ 1,030,828 | ||
[1] | Applies to the Bank only. |
Note 15 - Fair Value Measurem89
Note 15 - Fair Value Measurements (Details Textual) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Available-for-sale Securities | $ 272,676 | $ 253,773 |
Fair Value, Inputs, Level 3 [Member] | ||
Available-for-sale Securities | $ 0 | $ 0 |
Note 15 - Fair Value Measurem90
Note 15 - Fair Value Measurements - Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Securities available for sale, at fair value | $ 272,676 | $ 253,773 |
Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale, at fair value | 0 | 0 |
US Government Agencies Debt Securities [Member] | ||
Securities available for sale, at fair value | 12,188 | 44,043 |
US States and Political Subdivisions Debt Securities [Member] | ||
Securities available for sale, at fair value | 117,873 | 75,407 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Residential Mortgage [Member] | ||
Securities available for sale, at fair value | 18,084 | 22,269 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Commercial Loan [Member] | ||
Securities available for sale, at fair value | 99,350 | 89,423 |
Corporate Debt Securities [Member] | ||
Securities available for sale, at fair value | 453 | 423 |
Negotiable Certificates of Deposit [Member] | ||
Securities available for sale, at fair value | 3,216 | 3,162 |
Equity Securities [Member] | ||
Securities available for sale, at fair value | 936 | 948 |
Fair Value, Measurements, Recurring [Member] | ||
Securities available for sale, at fair value | 272,676 | 253,773 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available for sale, at fair value | 936 | 948 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale, at fair value | 271,740 | 252,825 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale, at fair value | ||
Fair Value, Measurements, Recurring [Member] | US Government Agencies Debt Securities [Member] | ||
Securities available for sale, at fair value | 12,188 | 44,043 |
Fair Value, Measurements, Recurring [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available for sale, at fair value | ||
Fair Value, Measurements, Recurring [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale, at fair value | 12,188 | 44,043 |
Fair Value, Measurements, Recurring [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale, at fair value | ||
Fair Value, Measurements, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Securities available for sale, at fair value | 117,873 | 75,407 |
Fair Value, Measurements, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available for sale, at fair value | ||
Fair Value, Measurements, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale, at fair value | 117,873 | 75,407 |
Fair Value, Measurements, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale, at fair value | ||
Fair Value, Measurements, Recurring [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Residential Mortgage [Member] | ||
Securities available for sale, at fair value | 18,084 | 22,269 |
Fair Value, Measurements, Recurring [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Commercial Loan [Member] | ||
Securities available for sale, at fair value | 99,350 | 89,423 |
Fair Value, Measurements, Recurring [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Inputs, Level 1 [Member] | Residential Mortgage [Member] | ||
Securities available for sale, at fair value | ||
Fair Value, Measurements, Recurring [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Inputs, Level 1 [Member] | Commercial Loan [Member] | ||
Securities available for sale, at fair value | ||
Fair Value, Measurements, Recurring [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Inputs, Level 2 [Member] | Residential Mortgage [Member] | ||
Securities available for sale, at fair value | 18,084 | 22,269 |
Fair Value, Measurements, Recurring [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Inputs, Level 2 [Member] | Commercial Loan [Member] | ||
Securities available for sale, at fair value | 99,350 | 89,423 |
Fair Value, Measurements, Recurring [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Inputs, Level 3 [Member] | Residential Mortgage [Member] | ||
Securities available for sale, at fair value | ||
Fair Value, Measurements, Recurring [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Inputs, Level 3 [Member] | Commercial Loan [Member] | ||
Securities available for sale, at fair value | ||
Fair Value, Measurements, Recurring [Member] | Residential Mortgage Backed Securities [Member] | ||
Securities available for sale, at fair value | 20,576 | 18,098 |
Fair Value, Measurements, Recurring [Member] | Residential Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available for sale, at fair value | ||
Fair Value, Measurements, Recurring [Member] | Residential Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale, at fair value | 20,576 | 18,098 |
Fair Value, Measurements, Recurring [Member] | Residential Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale, at fair value | ||
Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member] | ||
Securities available for sale, at fair value | 453 | 423 |
Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available for sale, at fair value | ||
Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale, at fair value | 453 | 423 |
Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale, at fair value | ||
Fair Value, Measurements, Recurring [Member] | Negotiable Certificates of Deposit [Member] | ||
Securities available for sale, at fair value | 3,216 | 3,162 |
Fair Value, Measurements, Recurring [Member] | Negotiable Certificates of Deposit [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available for sale, at fair value | ||
Fair Value, Measurements, Recurring [Member] | Negotiable Certificates of Deposit [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale, at fair value | 3,216 | 3,162 |
Fair Value, Measurements, Recurring [Member] | Negotiable Certificates of Deposit [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale, at fair value | ||
Fair Value, Measurements, Recurring [Member] | Equity Securities [Member] | ||
Securities available for sale, at fair value | 936 | 948 |
Fair Value, Measurements, Recurring [Member] | Equity Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available for sale, at fair value | 936 | 948 |
Fair Value, Measurements, Recurring [Member] | Equity Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale, at fair value | ||
Fair Value, Measurements, Recurring [Member] | Equity Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale, at fair value |
Note 15 - Fair Value Measurem91
Note 15 - Fair Value Measurements - Assets Measured At Fair Value On a Non-recurring Basis and Quantitative Information (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Recorded investment | $ 5,604 | $ 7,961 |
Related allowance | 302 | 381 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Market Approach Valuation Technique [Member] | Impaired Loans, Collateral Dependent [Member] | ||
Recorded investment | 482 | 718 |
Related allowance | 68 | 124 |
Fair Value | $ 414 | $ 594 |
Selling Cost | 10.00% | 10.00% |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Market Approach Valuation Technique [Member] | Impaired Loans, Collateral Dependent [Member] | Minimum [Member] | ||
Selling Cost | 10.00% | 10.00% |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Market Approach Valuation Technique [Member] | Impaired Loans, Collateral Dependent [Member] | Maximum [Member] | ||
Selling Cost | 10.00% | 10.00% |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Market Approach Valuation Technique [Member] | Other Real Estate Owned [Member] | ||
Recorded investment | $ 1,949 | $ 3,104 |
Related allowance | ||
Fair Value | $ 1,949 | $ 3,104 |
Selling Cost | 10.00% | 10.00% |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Market Approach Valuation Technique [Member] | Other Real Estate Owned [Member] | Minimum [Member] | ||
Selling Cost | 10.00% | 10.00% |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Market Approach Valuation Technique [Member] | Other Real Estate Owned [Member] | Maximum [Member] | ||
Selling Cost | 10.00% | 10.00% |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Income Approach Valuation Technique [Member] | Impaired Loans, Other [Member] | ||
Recorded investment | $ 3,247 | $ 3,757 |
Related allowance | 234 | 257 |
Fair Value | $ 3,013 | $ 3,500 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Income Approach Valuation Technique [Member] | Impaired Loans, Other [Member] | Minimum [Member] | ||
Discount Rate | 3.00% | 2.90% |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Income Approach Valuation Technique [Member] | Impaired Loans, Other [Member] | Maximum [Member] | ||
Discount Rate | 7.50% | 7.50% |
Note 15 - Fair Value Measurem92
Note 15 - Fair Value Measurements - Estimated Fair Values of the Company's Financial Information (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Financial assets | ||
Securities available for sale, at fair value | $ 272,676 | $ 253,773 |
Fair Value, Inputs, Level 3 [Member] | ||
Financial assets | ||
Securities available for sale, at fair value | 0 | 0 |
Reported Value Measurement [Member] | ||
Financial assets | ||
Securities available for sale, at fair value | 272,676 | 253,773 |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Financial assets | ||
Cash and short term investments | 112,445 | 21,083 |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Financial assets | ||
FHLB and FRB Stock | 3,311 | 7,695 |
Loans held for sale | 596 | 683 |
Accrued interest receivable | 2,757 | 2,475 |
Financial liabilities | ||
Deposits | 1,015,139 | 821,546 |
Borrowed funds | 78,847 | 160,112 |
Accrued interest payable | 242 | 11,165 |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Financial assets | ||
Loans, net | 725,860 | 724,926 |
Mortgage servicing rights | 215 | 240 |
Estimate of Fair Value Measurement [Member] | ||
Financial assets | ||
Securities available for sale, at fair value | 272,676 | 253,773 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Financial assets | ||
Cash and short term investments | 112,445 | 21,083 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Financial assets | ||
FHLB and FRB Stock | 3,311 | 7,695 |
Loans held for sale | 596 | 683 |
Accrued interest receivable | 2,757 | 2,475 |
Financial liabilities | ||
Deposits | 968,904 | 798,466 |
Borrowed funds | 78,923 | 160,266 |
Accrued interest payable | 242 | 11,165 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Financial assets | ||
Loans, net | 715,602 | 716,412 |
Mortgage servicing rights | $ 744 | $ 880 |
Note 16 - Earnings Per Share (D
Note 16 - Earnings Per Share (Details Textual) - shares | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Employee Stock Option [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 37,700 | 50,746 | 64,479 |
Note 16 - Earnings Per Share -
Note 16 - Earnings Per Share - Calculation of Basic and Diluted Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Net income | $ 1,524 | $ 2,017 | $ 1,625 | $ 1,143 | $ 29,209 | $ 2,337 | $ 819 | $ 3,475 | $ 6,309 | $ 35,840 | $ 13,420 |
Basic (in shares) | 16,571,262 | 16,499,622 | 16,472,660 | ||||||||
Plus: common share equivalents (in shares) | 1,433 | 0 | 211 | ||||||||
Diluted weighted-average number of common shares outstanding (in shares) | 16,572,695 | 16,499,622 | 16,472,871 | ||||||||
Basic (in dollars per share) | $ 0.09 | $ 0.12 | $ 0.10 | $ 0.07 | $ 1.77 | $ 0.14 | $ 0.05 | $ 0.21 | $ 0.38 | $ 2.17 | $ 0.81 |
Diluted (in dollars per share) | $ 0.09 | $ 0.12 | $ 0.10 | $ 0.07 | $ 1.77 | $ 0.14 | $ 0.05 | $ 0.21 | $ 0.38 | $ 2.17 | $ 0.81 |
Note 17 - Other Comprehensive95
Note 17 - Other Comprehensive Income (Loss) - Reclassifications Out of Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Reclassification adjustment for net gains reclassified into net income | $ (960) | $ (2,296) | $ (6,640) | ||||||||
Income tax expense (benefit) | $ 136 | $ 724 | $ 661 | $ 226 | $ (27,719) | $ 22 | $ (62) | 1,747 | (27,759) | 326 | |
Net of tax amount | 634 | 1,515 | 4,140 | ||||||||
Reclassification out of Accumulated Other Comprehensive Income [Member] | |||||||||||
Income tax expense (benefit) | 326 | 781 | 2,132 | ||||||||
Net of tax amount | (634) | (1,515) | (4,140) | ||||||||
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Net Investment Gain (Loss) Including Portion Attributable to Noncontrolling Interest [Member] | |||||||||||
Reclassification adjustment for net gains reclassified into net income | $ (960) | $ (2,296) | $ (6,272) |
Note 17 - Other Comprehensive96
Note 17 - Other Comprehensive Income (Loss) - Changes in Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Balance | $ (238) | $ 1,138 | $ (3,092) |
Other comprehensive (loss) income before reclassifications | (912) | 139 | 8,370 |
Amounts reclassified from accumulated other comprehensive (loss) income | (634) | (1,515) | (4,140) |
Net other comprehensive (loss) income during the period | (1,546) | (1,376) | 4,230 |
Balance\ | $ (1,784) | $ (238) | $ 1,138 |
Note 18 - Condensed Financial97
Note 18 - Condensed Financial Information - Parent Company Only - Condensed Statements of Condition (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | Jun. 30, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Assets | |||||
Other assets | $ 7,975 | $ 9,799 | |||
Total assets | 1,195,375 | 1,090,618 | |||
Liabilities and Shareholders’ Equity: | |||||
Subordinated debentures | 10,000 | 14,000 | $ 14,000 | $ 25,000 | |
Junior subordinated debentures | 10,310 | 10,310 | |||
Accrued interest payable | 242 | 11,165 | |||
Other liabilities | 11,000 | 11,617 | |||
Total liabilities | 1,105,228 | 1,004,440 | |||
Shareholders’ equity | 90,147 | 86,178 | $ 51,398 | $ 33,578 | |
Total liabilities and shareholders’ equity | 1,195,375 | 1,090,618 | |||
Parent Company [Member] | |||||
Assets | |||||
Cash | 567 | 947 | |||
Investment in statutory trust | 384 | 377 | |||
Investment in subsidiary (equity method) | 112,106 | 122,182 | |||
Other assets | 236 | 609 | |||
Total assets | 113,293 | 124,115 | |||
Liabilities and Shareholders’ Equity: | |||||
Subordinated debentures | 10,000 | 14,000 | |||
Junior subordinated debentures | 10,310 | 10,310 | |||
Accrued interest payable | 52 | 10,902 | |||
Other liabilities | 2,784 | 2,725 | |||
Total liabilities | 23,146 | 37,937 | |||
Shareholders’ equity | 90,147 | 86,178 | |||
Total liabilities and shareholders’ equity | $ 113,293 | $ 124,115 |
Note 18 - Condensed Financial98
Note 18 - Condensed Financial Information - Parent Company Only - Condensed Statements of Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Income: | |||||||||||
Income from trust | $ 7 | $ 6 | $ 6 | ||||||||
Expense: | |||||||||||
Interest on subordinated debentures | 625 | 1,450 | 2,281 | ||||||||
Interest on junior subordinated debentures | 247 | 206 | 236 | ||||||||
Other operating expenses | 3,075 | 3,031 | 2,853 | ||||||||
Other losses | (277) | (281) | (2,279) | ||||||||
Total expenses | $ 7,163 | $ 6,553 | $ 7,025 | $ 6,804 | $ 8,587 | $ 6,415 | $ 6,680 | $ 6,782 | 27,545 | 28,464 | 33,569 |
Income (loss) before income taxes | 1,660 | 2,741 | 2,286 | 1,369 | 1,490 | 2,337 | 841 | 3,413 | 8,056 | 8,081 | 13,746 |
Income tax expense (benefit) | 136 | 724 | 661 | 226 | (27,719) | 22 | (62) | 1,747 | (27,759) | 326 | |
Net income | $ 1,524 | $ 2,017 | $ 1,625 | $ 1,143 | $ 29,209 | $ 2,337 | $ 819 | $ 3,475 | 6,309 | 35,840 | 13,420 |
Parent Company [Member] | |||||||||||
Income: | |||||||||||
Dividends from subsidiaries | 16,000 | 12,500 | 1,000 | ||||||||
Income from trust | 7 | 6 | 6 | ||||||||
Other income | 275 | ||||||||||
Total income | 16,007 | 12,506 | 1,281 | ||||||||
Expense: | |||||||||||
Interest on subordinated debentures | 625 | 1,450 | 2,281 | ||||||||
Interest on junior subordinated debentures | 247 | 206 | 236 | ||||||||
Other operating expenses | 182 | 168 | 128 | ||||||||
Other losses | 115 | 114 | 276 | ||||||||
Total expenses | 1,169 | 1,938 | 2,921 | ||||||||
Income (loss) before income taxes | 14,838 | 10,568 | (1,640) | ||||||||
Income tax expense (benefit) | |||||||||||
Income (loss) before equity in undistributed net income of subsidiary | 14,838 | 10,568 | (1,640) | ||||||||
Equity in undistributed net income of subsidiary | (8,529) | 25,272 | 15,060 | ||||||||
Net income | $ 6,309 | $ 35,840 | $ 13,420 |
Note 18 - Condensed Financial99
Note 18 - Condensed Financial Information - Parent Company Only - Condensed Statements of Cash Flows (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Operating activities: | |||||||||||
Net income | $ 1,524 | $ 2,017 | $ 1,625 | $ 1,143 | $ 29,209 | $ 2,337 | $ 819 | $ 3,475 | $ 6,309 | $ 35,840 | $ 13,420 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
Equity in trust | (7) | (6) | (6) | ||||||||
(Decrease) increase in accrued interest payable | (10,923) | 903 | 1,530 | ||||||||
Decrease (increase) in other assets | 496 | 917 | 169 | ||||||||
(Decrease) increase in accrued expenses and other liabilities | (558) | (4,195) | 1,694 | ||||||||
Net cash provided by operating activities | 433 | 4,461 | 8,512 | ||||||||
Cash flows from investing activities: | |||||||||||
Principal reduction on subordinated debentures | (4,000) | (11,000) | |||||||||
Proceeds from issuance of common shares | 433 | ||||||||||
Cash dividends paid | (1,492) | ||||||||||
Net cash used in financing activities | 111,269 | 89,818 | (54,865) | ||||||||
(Decrease) increase in cash | 91,362 | (14,584) | (67,889) | ||||||||
Cash and cash equivalents at beginning of year | 21,083 | 35,667 | 21,083 | 35,667 | 103,556 | ||||||
Cash and cash equivalents at end of year | 112,445 | 21,083 | 112,445 | 21,083 | 35,667 | ||||||
Parent Company [Member] | |||||||||||
Operating activities: | |||||||||||
Net income | 6,309 | 35,840 | 13,420 | ||||||||
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
Equity in undistributed loss (income) of subsidiary | 8,529 | (25,272) | (15,060) | ||||||||
Equity in trust | (7) | (6) | (6) | ||||||||
(Decrease) increase in accrued interest payable | (10,850) | 999 | 1,596 | ||||||||
Decrease (increase) in other assets | 639 | (18) | |||||||||
(Decrease) increase in accrued expenses and other liabilities | 59 | (58) | 258 | ||||||||
Net cash provided by operating activities | 4,679 | 11,485 | 208 | ||||||||
Cash flows from investing activities: | |||||||||||
Principal reduction on subordinated debentures | (4,000) | (11,000) | |||||||||
Proceeds from issuance of common shares | 433 | ||||||||||
Cash dividends paid | (1,492) | ||||||||||
Net cash used in financing activities | (5,059) | (11,000) | |||||||||
(Decrease) increase in cash | (380) | 485 | 208 | ||||||||
Cash and cash equivalents at beginning of year | $ 947 | $ 462 | 947 | 462 | 254 | ||||||
Cash and cash equivalents at end of year | $ 567 | $ 947 | $ 567 | $ 947 | $ 462 |
Note 19 - Selected Quarterly100
Note 19 - Selected Quarterly Financial Data (Unaudited) - Quarterly Financial Data (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Interest income | $ 8,776 | $ 8,765 | $ 8,663 | $ 8,544 | $ 8,606 | $ 8,199 | $ 7,699 | $ 7,697 | $ 34,748 | $ 32,201 | $ 32,673 |
Interest expense | 1,056 | 1,085 | 1,050 | 1,006 | 991 | 1,017 | 1,378 | 1,415 | 4,197 | 4,801 | 6,147 |
Net interest income | 7,720 | 7,680 | 7,613 | 7,538 | 7,615 | 7,182 | 6,321 | 6,282 | 30,551 | 27,400 | 26,526 |
Provision (credit) for loan and lease losses | 295 | (234) | 396 | 696 | (1,005) | (191) | 345 | (494) | 1,153 | (1,345) | (5,869) |
Net interest income after provision (credit) for loan and lease losses | 7,425 | 7,914 | 7,217 | 6,842 | 8,620 | 7,373 | 5,976 | 6,776 | 29,398 | 28,745 | 32,395 |
Non-interest income | 1,398 | 1,380 | 2,094 | 1,331 | 1,457 | 1,379 | 1,545 | 3,419 | 6,203 | 7,800 | 14,920 |
Total expenses | 7,163 | 6,553 | 7,025 | 6,804 | 8,587 | 6,415 | 6,680 | 6,782 | 27,545 | 28,464 | 33,569 |
Income (loss) before income taxes | 1,660 | 2,741 | 2,286 | 1,369 | 1,490 | 2,337 | 841 | 3,413 | 8,056 | 8,081 | 13,746 |
Income tax expense (benefit) | 136 | 724 | 661 | 226 | (27,719) | 22 | (62) | 1,747 | (27,759) | 326 | |
Net income | $ 1,524 | $ 2,017 | $ 1,625 | $ 1,143 | $ 29,209 | $ 2,337 | $ 819 | $ 3,475 | $ 6,309 | $ 35,840 | $ 13,420 |
Basic (in dollars per share) | $ 0.09 | $ 0.12 | $ 0.10 | $ 0.07 | $ 1.77 | $ 0.14 | $ 0.05 | $ 0.21 | $ 0.38 | $ 2.17 | $ 0.81 |
Diluted (in dollars per share) | $ 0.09 | $ 0.12 | $ 0.10 | $ 0.07 | $ 1.77 | $ 0.14 | $ 0.05 | $ 0.21 | $ 0.38 | $ 2.17 | $ 0.81 |
Non-interest expense | $ 7,163 | $ 6,553 | $ 7,025 | $ 6,804 | $ 8,587 | $ 6,415 | $ 6,680 | $ 6,782 | $ 27,545 | $ 28,464 | $ 33,569 |