Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2017 | May 12, 2017 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Mar. 31, 2017 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q1 | |
Entity Registrant Name | SMARTFINANCIAL INC. | |
Entity Central Index Key | 1,038,773 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Smaller Reporting Company | |
Trading Symbol | SMBK | |
Entity Common Stock, Shares Outstanding | 8,212,602 |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) | Mar. 31, 2017 | Dec. 31, 2016 |
ASSETS | ||
Cash and due from banks | $ 22,093,186 | $ 34,290,617 |
Interest-bearing deposits at other financial institutions | 33,454,535 | 34,457,691 |
Total cash and cash equivalents | 55,547,721 | 68,748,308 |
Securities available for sale | 137,132,626 | 129,421,914 |
Restricted investments, at cost | 5,627,950 | 5,627,950 |
Loans, net of allowance for loan losses of $5,152,261 at March 31, 2017 and $5,105,255 at December 31, 2016 | 802,387,400 | 808,271,003 |
Bank premises and equipment, net | 30,802,210 | 30,535,594 |
Foreclosed assets | 2,370,556 | 2,386,239 |
Goodwill and core deposit intangible, net | 6,583,077 | 6,635,655 |
Other assets | 10,634,241 | 10,829,622 |
Total assets | 1,051,085,781 | 1,062,456,285 |
Deposits: | ||
Noninterest-bearing demand deposits | 160,672,567 | 153,482,650 |
Interest-bearing demand deposits | 167,433,130 | 162,702,457 |
Money market and savings deposits | 274,993,376 | 274,604,724 |
Time deposits | 286,600,177 | 316,275,340 |
Total deposits | 889,699,250 | 907,065,171 |
Securities sold under agreement to repurchase | 23,153,397 | 26,621,984 |
Federal Home Loan Bank advances and other borrowings | 60,000 | 18,505,390 |
Accrued expenses and other liabilities | 5,622,319 | 5,023,600 |
Total liabilities | 918,534,966 | 957,216,145 |
Stockholders' equity: | ||
Preferred stock - $1 par value; 2,000,000 shares authorized; None issued and outstanding in 2017. 12,000 issued and outstanding in 2016. | 0 | 12,000 |
Common stock - $1 par value; 40,000,000 shares authorized; 8,211,102 and 5,896,033 shares issued and outstanding in 2017 and 2016, respectively | 8,211,102 | 5,896,033 |
Additional paid-in capital | 106,702,972 | 83,463,051 |
Retained earnings | 18,320,147 | 16,871,296 |
Accumulated other comprehensive loss | (683,406) | (1,002,240) |
Total stockholders' equity | 132,550,815 | 105,240,140 |
Total liabilities and stockholders' equity | $ 1,051,085,781 | $ 1,062,456,285 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Statement of Financial Position [Abstract] | ||
Allowance for loan losses (in dollars) | $ 5,152 | $ 5,105 |
Preferred Stock, Par value (in dollars per share) | $ 1 | $ 1 |
Preferred stock, shares authorized | 2,000,000 | 2,000,000 |
Preferred stock, shares issued | 0 | 12,000 |
Preferred stock, shares outstanding | 0 | 12,000 |
Common stock, par value (in dollars per share) | $ 1 | $ 1 |
Common stock, shares authorized | 40,000,000 | 40,000,000 |
Common stock, shares issued | 8,211,102 | 5,896,033 |
Common stock, shares outstanding | 8,211,102 | 5,896,033 |
CONSOLIDATED STATEMENTS OF INCO
CONSOLIDATED STATEMENTS OF INCOME - USD ($) | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
INTEREST INCOME | ||
Loans, including fees | $ 10,215,607 | $ 9,374,457 |
Securities and interest-bearing deposits at other financial institutions | 660,819 | 716,580 |
Federal funds sold and other earning assets | 72,897 | 63,309 |
Total interest income | 10,949,323 | 10,154,346 |
INTEREST EXPENSE | ||
Deposits | 1,097,538 | 961,268 |
Securities sold under agreements to repurchase | 15,951 | 16,460 |
Federal Home Loan Bank advances and other borrowings | 15,475 | 45,286 |
Total interest expense | 1,128,964 | 1,023,014 |
Net interest income before provision for loan losses | 9,820,359 | 9,131,332 |
Provision for loan losses | 12,450 | 137,557 |
Net interest income after provision for loan losses | 9,807,909 | 8,993,775 |
NONINTEREST INCOME | ||
Customer service fees | 264,673 | 295,803 |
Gain on sale of securities | 0 | 83,263 |
Gain on sale of loans and other assets | 275,165 | 221,925 |
(Loss) gain on sale of foreclosed assets | (15,564) | 57,977 |
Other noninterest income | 402,434 | 411,864 |
Total noninterest income | 926,708 | 1,070,832 |
NONINTEREST EXPENSES | ||
Salaries and employee benefits | 4,646,749 | 4,495,008 |
Net occupancy and equipment expense | 978,459 | 1,018,428 |
Depository insurance | 153,299 | 135,803 |
Foreclosed assets | 0 | 56,658 |
Advertising | 164,262 | 173,447 |
Data processing | 339,815 | 341,380 |
Professional services | 569,841 | 455,173 |
Amortization of intangible assets | 52,578 | 93,353 |
Service contracts | 295,629 | 285,627 |
Other operating expenses | 944,280 | 897,021 |
Total noninterest expenses | 8,144,912 | 7,951,898 |
Income before income tax expense | 2,589,705 | 2,112,709 |
Income tax expense | 945,854 | 763,846 |
Net income | 1,643,851 | 1,348,863 |
Preferred stock dividends | 195,000 | 212,000 |
Net income available to common stockholders | $ 1,448,851 | $ 1,136,863 |
EARNINGS PER COMMON SHARE | ||
Basic (in dollars per share) | $ 0.19 | $ 0.20 |
Diluted (in dollars per share) | $ 0.19 | $ 0.19 |
Weighted average common shares outstanding | ||
Basic (in shares) | 7,524,830 | 5,807,488 |
Diluted (in shares) | 7,631,219 | 6,108,087 |
Dividends per share (in dollars per share) | $ 0 | $ 0 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Statement of Comprehensive Income [Abstract] | ||
Net income | $ 1,643,851 | $ 1,348,863 |
Other comprehensive income, net of tax: | ||
Unrealized holding gains arising during the period, net of tax expense of $197,831 and $381,291 in 2017 and 2016, respectively | 318,834 | 614,708 |
Reclassification adjustment for gains included in net income, net of tax expense of $- and $31,640 in 2017 and 2016, respectively | 0 | (51,623) |
Total other comprehensive income | 318,834 | 563,085 |
Comprehensive income | $ 1,962,685 | $ 1,911,948 |
CONSOLIDATED STATEMENTS OF COM6
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Parenthetical) - USD ($) | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Statement of Comprehensive Income [Abstract] | ||
Unrealized holding gains arising during the period, tax expense (benefit) | $ 197,831 | $ 381,291 |
Reclassification adjustment for (gains) losses included in net income, tax expense | $ 0 | $ 31,640 |
CONSOLIDATED STATEMENT OF CHANG
CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY (UNAUDITED) - 3 months ended Mar. 31, 2017 - USD ($) | Total | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] |
BALANCE at Dec. 31, 2016 | $ 105,240,140 | $ 12,000 | $ 5,896,033 | $ 83,463,051 | $ 16,871,296 | $ (1,002,240) |
BALANCE (in shares) at Dec. 31, 2016 | 12,000 | 5,896,033 | ||||
Net income | 1,643,851 | $ 0 | $ 0 | 0 | 1,643,851 | 0 |
Other comprehensive income | 318,834 | 0 | 0 | 0 | 0 | 318,834 |
Issuance of common stock | 33,223,653 | $ 1,840,000 | 31,383,653 | |||
Issuance of common stock (in shares) | 1,840,000 | |||||
Issuance of stock grants | 31,791 | $ 1,511 | 30,280 | |||
Issuance of stock grants (in shares) | 1,511 | |||||
Exercise of stock options | 4,260,734 | $ 0 | $ 473,558 | 3,787,176 | 0 | 0 |
Exercise of stock options (in shares) | 0 | 473,558 | ||||
Cash dividend on preferred stock | (195,000) | $ 0 | $ 0 | 0 | (195,000) | 0 |
Redemption of preferred stock | (12,000,000) | $ (12,000) | (11,988,000) | |||
Redemption of preferred stock (in shares) | (12,000) | |||||
Stock compensation expense | 26,812 | $ 0 | 0 | 26,812 | 0 | 0 |
BALANCE at Mar. 31, 2017 | $ 132,550,815 | $ 0 | $ 8,211,102 | $ 106,702,972 | $ 18,320,147 | $ (683,406) |
BALANCE (in shares) at Mar. 31, 2017 | 0 | 8,211,102 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net income | $ 1,643,851 | $ 1,348,863 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation and amortization | 549,186 | 525,809 |
Provision for loan losses | 12,450 | 137,557 |
Stock compensation expense | 26,812 | 33,635 |
Gains from sale of securities | 0 | (83,263) |
Net gains from sale of loans and other assets | (275,165) | (221,925) |
Net loss (gains) from sale of foreclosed assets | 15,564 | (57,977) |
Changes in other assets and liabilities: | ||
Accrued interest receivable | 160,042 | 106,932 |
Accrued interest payable | 2,373 | 10,061 |
Other assets and liabilities | 486,433 | 2,061,243 |
Net cash provided by operating activities | 2,621,546 | 3,860,935 |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Proceeds from security sales, maturities, and paydowns | 5,152,054 | 9,652,595 |
Purchase of securities | (12,507,860) | 0 |
Purchase of restricted investments | 0 | (200) |
Loan originations and principal collections, net | 6,106,801 | (12,967,236) |
Purchase of bank premises and equipment | (654,044) | (971,967) |
Proceeds from sale of foreclosed assets | 39,636 | 283,221 |
Net cash used in investing activities | (1,863,413) | (4,003,587) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Net increase (decrease) in deposits | (17,365,921) | 628,670 |
Net decrease in securities sold under agreements to repurchase | (3,468,587) | (7,321,193) |
Issuance of common stock | 37,516,178 | 77,707 |
Redemption of preferred stock | (12,000,000) | 0 |
Payment of dividends on preferred stock | (195,000) | (212,000) |
Proceeds from Federal Home Loan Bank advances and other borrowings | 60,375 | 18,000,000 |
Repayment of Federal Home Loan Bank advances and other borrowings | (18,505,765) | (22,062,293) |
Net cash used in financing activities | (13,958,720) | (10,889,109) |
NET DECREASE IN CASH AND CASH EQUIVALENTS | (13,200,587) | (11,031,761) |
CASH AND CASH EQUIVALENTS, beginning of year | 68,748,308 | 79,964,633 |
CASH AND CASH EQUIVALENTS, end of period | 55,547,721 | 68,932,872 |
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION | ||
Cash paid during the period for interest | 1,126,591 | 1,012,953 |
Cash paid during the period for taxes | 0 | 0 |
NONCASH INVESTING AND FINANCING ACTIVITIES | ||
Change in unrealized losses on securities available for sale | (516,665) | (912,736) |
Acquisition of real estate through foreclosure | 39,517 | 0 |
Financed sales of foreclosed assets | $ 0 | $ 0 |
Presentation of Financial Infor
Presentation of Financial Information | 3 Months Ended |
Mar. 31, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Presentation of Financial Information | Presentation of Financial Information Nature of Business: SmartFinancial, Inc. (the “Company”) is a bank holding company whose principal activity is the ownership and management of its wholly-owned subsidiary, SmartBank (the “Bank”). The Company provides a variety of financial services to individuals and corporate customers through its offices in eastern Tennessee, northwest Florida, and north Georgia. The Company’s primary deposit products are interest-bearing demand deposits and certificates of deposit. Its primary lending products are commercial, residential, and consumer loans. Interim Financial Information (Unaudited): The financial information in this report for March 31, 2017 and March 31, 2016 has not been audited. The information included herein should be read in conjunction with the Company’s 2016 annual consolidated financial statements and footnotes included elsewhere. The consolidated financial statements presented herein conform to U.S. generally accepted accounting principles and to general industry practices. In the opinion of SmartFinancial’s management, the accompanying interim financial statements contain all material adjustments necessary to present fairly the financial condition, the results of operations, and cash flows for the interim period. Results for interim periods are not necessarily indicative of the results to be expected for a full year. Basis of Presentation and Accounting Estimates: All adjustments consisting of normal recurring accruals, that in the opinion of management, are necessary for a fair presentation of the financial position and the results of operations for the periods covered by the report have been included. The accompanying unaudited consolidated financial statements and related notes should be read in conjunction with those appearing the in the 2016 Annual Report previously filed on Form 10-K. The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary. All significant intercompany balances and transactions have been eliminated in consolidation. In preparing the consolidated financial statements in conformity with accounting principles generally accepted in the United States of America, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the balance sheet, and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term relate to the determination of the allowance for loan losses, the valuation of foreclosed assets and deferred taxes, other-than-temporary impairments of securities, and the fair value of financial instruments. The determination of the adequacy of the allowance for loan losses is based on estimates that are particularly susceptible to significant changes in the economic environment and market conditions. In connection with the determination of the estimated losses on loans, management obtains independent appraisals for significant collateral. The Company’s loans are generally secured by specific items of collateral including real property, consumer assets, and business assets. Although the Company has a diversified loan portfolio, a substantial portion of its debtors’ ability to honor their contracts is dependent on local economic conditions. While management uses available information to recognize losses on loans, further reductions in the carrying amounts of loans may be necessary based on changes in local economic conditions. In addition, regulatory agencies, as an integral part of their examination process, periodically review the estimated losses on loans. Such agencies may require the Company to recognize additional losses based on their judgments about information available to them at the time of their examination. Because of these factors, it is reasonably possible that the estimated losses on loans may change materially in the near term. However, the amount of the change that is reasonably possible cannot be estimated. Note 1. Presentation of Financial Information, Continued Recently Issued Accounting Pronouncements: During interim periods, the Company follows the accounting policies set forth in its annual audited financial statements for the year ended December 31, 2016 as filed with the Securities and Exchange Commission. The following is a summary of recent authoritative pronouncements not yet effective that could impact the accounting, reporting, and/or disclosure of financial information by the Company issued since December 31, 2016 . In January 2017, FASB issued ASU No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business. The ASU clarifies the definition of a business to assist with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The amendments in this update are effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The Company does not expect these amendments to have a material effect on its financial statements. In January 2017, FASB issued ASU No. 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment . The ASU simplifies the subsequent measurement of goodwill and eliminates Step 2 from the goodwill impairment test. The Company should perform its goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An impairment charge should be recognized for the amount by which the carrying amount exceeds the reporting unit's fair value. The impairment charge is limited to the amount of goodwill allocated to that reporting unit. The amendments in this update are effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Early adoption is permitted for goodwill impairment tests performed on testing dates after January 1, 2017. The Company does not expect these amendments to have a material effect on its financial statements. In March 2017, FASB issued ASU No. 2017-08, Receivables - Nonrefundable Fees and Other Costs (Topic 310-20): Premium Amortization on Purchased Callable Debt Securities. The ASU shortens the amortization period for certain callable debt securities held at a premium. The premium on individual callable debt securities shall be amortized to the earliest call date. This guidance does not apply to securities for which prepayments are estimated on a large number of similar loans where prepayments are probable and reasonably estimable. The amendments in this update are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early adoption is permitted. This update should be adopted on a modified retrospective basis with a cumulative-effect adjustment to retained earnings on the date of adoption. The Company does not expect these amendments to have a material effect on its financial statements. Earnings per common share: Basic earnings per common share represents income available to common stockholders divided by the weighted-average number of common shares outstanding during the period. Diluted earnings per common share reflects additional common shares that would have been outstanding if dilutive potential common shares had been issued, as well as any adjustment to income that would result from the assumed issuance. Potential common shares that may be issued by the Company relate solely to outstanding stock options and are determined using the treasury stock method. |
Earnings per share
Earnings per share | 3 Months Ended |
Mar. 31, 2017 | |
Earnings Per Share [Abstract] | |
Earnings per share | Earnings per share The following is a summary of the basic and diluted earnings per share for the three month periods ended March 31, 2017 and March 31, 2016 . Three Months Ended March 31, 2017 2016 Net income available to common shareholders $ 1,448,851 $ 1,136,863 Weighted average common shares outstanding 7,524,830 5,807,488 Effect of dilutive stock options 106,389 300,599 Diluted shares 7,631,219 6,108,087 Basic earnings per common share $ 0.19 $ 0.20 Diluted earnings per common share $ 0.19 $ 0.19 Note 2. Earnings per share, Continued For the three months ended March 31, 2017 and 2016 , the effects of outstanding antidilutive stock options are excluded from the computation of diluted earnings per common share because the exercise price of such options is higher than the market price. There were 14,604 and 18,100 antidilutive stock options as of March 31, 2017 and 2016 , respectively. |
Securities
Securities | 3 Months Ended |
Mar. 31, 2017 | |
Investments, Debt and Equity Securities [Abstract] | |
Securities | Securities The amortized cost and fair value of securities available-for-sale at March 31, 2017 and December 31, 2016 are summarized as follows (in thousands): March 31, 2017 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. Government-sponsored enterprises (GSEs) $ 18,261 $ 5 $ (468 ) $ 17,798 Municipal securities 8,434 23 (119 ) 8,338 Other debt securities 972 — (26 ) 946 Mortgage-backed securities 110,573 228 (750 ) 110,051 $ 138,240 $ 256 $ (1,363 ) $ 137,133 December 31, 2016 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. Government-sponsored enterprises (GSEs) $ 18,279 $ 8 $ (564 ) $ 17,723 Municipal securities 8,182 16 (179 ) 8,019 Mortgage-backed securities 104,585 185 (1,090 ) 103,680 $ 131,046 $ 209 $ (1,833 ) $ 129,422 At March 31, 2017 , securities with a fair value totaling approximately $81,068,000 were pledged to secure public funds and securities sold under agreements to repurchase. For the three months ended March 31, 2017 , there were no available-for-sale securities sold. For the three months ended March 31, 2016 there were available-for-sale securities sold with proceeds totaling $5,072,500 which resulted in gross gains realized of $83,263 and gross losses of $-. The amortized cost and estimated fair value of securities at March 31, 2017 , by contractual maturity, are shown below (in thousands). Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Amortized Cost Fair Value Due in one year or less $ 3,011 $ 3,011 Due from one year to five years 12,391 12,048 Due from five years to ten years 8,543 8,341 Due after ten years 3,722 3,682 27,667 27,082 Mortgage-backed securities 110,573 110,051 $ 138,240 $ 137,133 Note 3. Securities, Continued The following tables present the gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities available-for-sale have been in a continuous unrealized loss position, as of March 31, 2017 and December 31, 2016 (in thousands): As of March 31, 2017 Less than 12 Months 12 Months or Greater Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses U.S. Government- sponsored enterprises (GSEs) 14,379 (468 ) — — 14,379 (468 ) Municipal securities 5,115 (118 ) 254 (1 ) 5,369 (119 ) Other debt securities 945 (26 ) — — 945 (26 ) Mortgage-backed securities 62,827 (380 ) 12,129 (370 ) 74,956 (750 ) 83,266 (992 ) 12,383 (371 ) 95,649 (1,363 ) As of December 31, 2016 Less than 12 Months 12 Months or Greater Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses U.S. Government- sponsored enterprises (GSEs) $ 14,702 $ (564 ) $ — $ — $ 14,702 $ (564 ) Municipal securities 6,368 (179 ) — — 6,368 (179 ) Mortgage-backed securities 67,063 (690 ) 8,948 (400 ) 76,011 (1,090 ) $ 88,133 $ (1,433 ) $ 8,948 $ (400 ) $ 97,081 $ (1,833 ) At March 31, 2017 , the categories of temporarily impaired securities, and management’s evaluation of those securities, are as follows: U.S. Government-sponsored enterprises : At March 31, 2017 , 5 (or five) investment in U.S. GSE securities had unrealized losses. These unrealized losses related principally to changes in market interest rates. The contractual terms of the investments do not permit the issuer to settle the securities at a price less than the amortized cost bases of the investments. Because the Bank does not intend to sell the investments and it is more likely than not that the Bank will not be required to sell the investments before recovery of their amortized cost bases, which may be maturity, the Bank does not consider these investments to be other-than temporarily impaired at March 31, 2017 . Municipal securities : At March 31, 2017 , 13 (or thirteen) investments in obligations of municipal securities had unrealized losses. The Bank believes the unrealized losses on those investments were caused by the interest rate environment and do not relate to the underlying credit quality of the issuers. Because the Bank does not intend to sell the investments and it is not more likely than not that the Bank will be required to sell the investments before recovery of their amortized cost bases, which may be maturity, the Bank does not consider these investments to be other-than temporarily impaired at March 31, 2017 . Other debt securities : At March 31, 2017 , 1 (or one) investment in other debt securities had unrealized losses. The Bank believes the unrealized loss on this investment was caused by the interest rate environment and does not relate to the underlying credit quality of the issuer. Because the Bank does not intend to sell the investment and it is not more likely than not that the Bank will be required to sell the investment before recovery of its amortized cost bases, which may be maturity, the Bank does not consider this investment to be other-than temporarily impaired at March 31, 2017 . Note 3. Securities, Continued Mortgage-backed securities : At March 31, 2017 , 57 (or fifty seven) investments in residential mortgage-backed securities had unrealized losses. This impairment is believed to be caused by the current interest rate environment. The contractual cash flows of those investments are guaranteed by an agency of the U.S. Government. Because the decline in market value is attributable to the current interest rate environment and not credit quality, and because the Bank does not intend to sell the investments and it is not more likely than not that the Bank will be required to sell the investments before recovery of their amortized cost bases, which may be maturity, the Bank does not deem these investments to be other-than-temporarily impaired at March 31, 2017 . |
Loans and Allowance for Loan Lo
Loans and Allowance for Loan Losses | 3 Months Ended |
Mar. 31, 2017 | |
Receivables [Abstract] | |
Loans and Allowance for Loan Losses | Loans and Allowance for Loan Losses Portfolio Segmentation: At March 31, 2017 and December 31, 2016 , loans are summarized as follows (in thousands): March 31, 2017 December 31, 2016 PCI Loans All Other Loans Total PCI Loans All Other Loans Total Commercial real estate $ 14,683 $ 393,216 $ 407,899 $ 14,943 $ 400,265 $ 415,208 Consumer real estate 8,874 177,471 186,345 9,004 178,798 187,802 Construction and land development 1,506 114,168 115,674 1,678 116,191 117,869 Commercial and industrial 1,538 89,169 90,707 1,568 83,454 85,022 Consumer and other — 6,914 6,914 — 7,475 7,475 Total loans 26,601 780,938 807,539 27,193 786,183 813,376 Less: Allowance for loan losses — (5,152 ) (5,152 ) — (5,105 ) (5,105 ) Loans, net $ 26,601 $ 775,786 $ 802,387 $ 27,193 $ 781,078 $ 808,271 For purposes of the disclosures required pursuant to the adoption of ASC 310, the loan portfolio was disaggregated into segments. A portfolio segment is defined as the level at which an entity develops and documents a systematic method for determining its allowance for credit losses. There are five loan portfolio segments that include commercial real estate, consumer real estate, construction and land development, commercial and industrial, and consumer and other. The following describe risk characteristics relevant to each of the portfolio segments: Commercial Real Estate: Commercial real estate loans include owner-occupied commercial real estate loans and loans secured by income-producing properties. Owner-occupied commercial real estate loans to operating businesses are long-term financing of land and buildings. These loans are repaid by cash flow generated from the business operation. Real estate loans for income-producing properties such as apartment buildings, office and industrial buildings, and retail shopping centers are repaid from rent income derived from the properties. Loans within this portfolio segment are particularly sensitive to the valuation of real estate. Consumer Real Estate: Consumer real estate loans include real estate loans secured by first liens, second liens, or open end real estate loans, such as home equity lines. These are repaid by various means such as a borrower's income, sale of the property, or rental income derived from the property. One to four family first mortgage loans are repaid by various means such as a borrower's income, sale of the property, or rental income derived from the property. Loans within this portfolio segment are particularly sensitive to the valuation of real estate. Construction and Land Development: Loans for real estate construction and development are repaid through cash flow related to the operations, sale or refinance of the underlying property. This portfolio segment includes extensions of credit to real estate developers or investors where repayment is dependent on the sale of the real estate or income generated from the real estate collateral. Loans within this portfolio segment are particularly sensitive to the valuation of real estate. Commercial and Industrial: The commercial and industrial loan portfolio segment includes commercial, financial, and agricultural loans. These loans include those loans to commercial customers for use in normal business operations to finance working capital needs, equipment purchases, or expansion projects. Loans are repaid by business cash flows. Collection risk in this portfolio is driven by the creditworthiness of the underlying borrower, particularly cash flows from the customers' business operations. Note 4. Loans and Allowance for Loan Losses, Continued Portfolio Segmentation (continued): Consumer and Other: The consumer loan portfolio segment includes direct consumer installment loans, overdrafts and other revolving credit loans, and educational loans. Loans in this portfolio are sensitive to unemployment and other key consumer economic measures. Credit Risk Management: The Company employs a credit risk management process with defined policies, accountability and routine reporting to manage credit risk in the loan portfolio segments. Credit risk management is guided by credit policies that provide for a consistent and prudent approach to underwriting and approvals of credits. Within the Credit Policy, procedures exist that elevate the approval requirements as credits become larger and more complex. All loans are individually underwritten, risk-rated, approved, and monitored. Responsibility and accountability for adherence to underwriting policies and accurate risk ratings lies in each portfolio segment. For the consumer real estate and consumer and other portfolio segments, the risk management process focuses on managing customers who become delinquent in their payments. For the other portfolio segments, the risk management process focuses on underwriting new business and, on an ongoing basis, monitoring the credit of the portfolios, including a third party review of the largest credits on an annual basis or more frequently as needed. To ensure problem credits are identified on a timely basis, several specific portfolio reviews occur periodically to assess the larger adversely rated credits for proper risk rating and accrual status. Credit quality and trends in the loan portfolio segments are measured and monitored regularly. Detailed reports, by product, collateral, accrual status, etc., are reviewed by the Senior Credit Officer and the Directors Loan Committee. The allowance for loan losses is a valuation reserve allowance established through provisions for loan losses charged against income. The allowance for loan losses, which is evaluated quarterly, is maintained at a level that management deems sufficient to absorb probable losses inherent in the loan portfolio. Loans deemed to be uncollectible are charged against the allowance for loan losses, while recoveries of previously charged-off amounts are credited to the allowance for loan losses. The allowance for loan losses is comprised of specific valuation allowances for loans evaluated individually for impairment and general allocations for pools of homogeneous loans with similar risk characteristics and trends. The allowance for loan losses related to specific loans is based on management's estimate of potential losses on impaired loans as determined by (1) the present value of expected future cash flows; (2) the fair value of collateral if the loan is determined to be collateral dependent or (3) the loan's observable market price. The Company's homogeneous loan pools include commercial real estate loans, consumer real estate loans, construction and land development loans, commercial and industrial loans, and consumer and other loans. The general allocations to these loan pools are based on the historical loss rates for specific loan types and the internal risk grade, if applicable, adjusted for both internal and external qualitative risk factors. The qualitative factors considered by management include, among other factors, (1) changes in local and national economic conditions; (2) changes in asset quality; (3) changes in loan portfolio volume; (4) the composition and concentrations of credit; (5) the impact of competition on loan structuring and pricing; (6) the impact of interest rate changes on portfolio risk and (7) effectiveness of the Company's loan policies, procedures and internal controls. The total allowance established for each homogeneous loan pool represents the product of the historical loss ratio adjusted for qualitative factors and the total dollar amount of the loans in the pool. Note 4. Loans and Allowance for Loan Losses, Continued Credit Risk Management (continued): The composition of loans by loan classification for impaired and performing loan status at March 31, 2017 and December 31, 2016 , is summarized in the tables below (amounts in thousands): March 31, 2017 Commercial Real Estate Consumer Real Estate Construction and Land Development Commercial and Industrial Consumer and Other Total Performing loans $ 392,978 $ 176,478 $ 113,534 $ 88,960 $ 6,914 $ 778,864 Impaired loans 238 993 634 209 — 2,074 393,216 177,471 114,168 89,169 6,914 780,938 PCI loans 14,683 8,874 1,506 1,538 — 26,601 Total $ 407,899 $ 186,345 $ 115,674 $ 90,707 $ 6,914 $ 807,539 December 31, 2016 Commercial Real Estate Consumer Real Estate Construction and Land Development Commercial and Industrial Consumer and Other Total Performing loans $ 400,146 $ 177,977 $ 115,326 $ 83,244 $ 7,475 $ 784,168 Impaired loans 119 821 865 210 — 2,015 400,265 178,798 116,191 83,454 7,475 786,183 PCI loans 14,943 9,004 1,678 1,568 — 27,193 Total loans $ 415,208 $ 187,802 $ 117,869 $ 85,022 $ 7,475 $ 813,376 The following tables show the allowance for loan losses allocation by loan classification for impaired, PCI, and performing loans as of March 31, 2017 and December 31, 2016 (amounts in thousands): March 31, 2017 Commercial Real Estate Consumer Real Estate Construction and Land Development Commercial and Industrial Consumer and Other Total Performing loans $ 2,329 $ 1,398 $ 706 $ 554 $ 93 $ 5,080 Impaired loans — 68 — 4 — 72 Total $ 2,329 $ 1,466 $ 706 $ 558 $ 93 $ 5,152 December 31, 2016 Commercial Real Estate Consumer Real Estate Construction and Land Development Commercial and Industrial Consumer and Other Total Performing loans $ 2,369 $ 1,382 $ 717 $ 516 $ 117 $ 5,101 Impaired loans — — — 4 — 4 Total $ 2,369 $ 1,382 $ 717 $ 520 $ 117 $ 5,105 There was no allowance for PCI loans at March 31, 2017 or December 31, 2016 . Note 4. Loans and Allowance for Loan Losses, Continued Credit Risk Management (continued): The following tables detail the changes in the allowance for loan losses for the three month period ending March 31, 2017 and year ending December 31, 2016 , by loan classification (amounts in thousands): March 31, 2017 Commercial Real Estate Consumer Real Estate Construction and Land Development Commercial and Industrial Consumer and Other Total Beginning balance $ 2,369 $ 1,382 $ 717 $ 520 $ 117 $ 5,105 Loans charged off — — — (3 ) (22 ) (25 ) Recoveries of loans charged off 5 17 5 16 17 60 Provision (reallocation) charged to operating expense (45 ) 67 (16 ) 25 (19 ) 12 Ending balance $ 2,329 $ 1,466 $ 706 $ 558 $ 93 $ 5,152 December 31, 2016 Commercial Real Estate Consumer Real Estate Construction and Land Development Commercial and Industrial Consumer and Other Total Beginning balance $ 1,906 $ 1,015 $ 627 $ 777 $ 29 $ 4,354 Loans charged off — (102 ) (14 ) (35 ) (155 ) (306 ) Recoveries of charge-offs 45 76 22 58 68 269 Provision (reallocation) charged to operating expense 418 393 82 (280 ) 175 788 Ending balance $ 2,369 $ 1,382 $ 717 $ 520 $ 117 $ 5,105 A description of the general characteristics of the risk grades used by the Company is as follows: Pass: Loans in this risk category involve borrowers of acceptable-to-strong credit quality and risk who have the apparent ability to satisfy their loan obligations. Loans in this risk grade would possess sufficient mitigating factors, such as adequate collateral or strong guarantors possessing the capacity to repay the debt if required, for any weakness that may exist. Special Mention: Loans in this risk grade are the equivalent of the regulatory definition of "Other Assets Especially Mentioned" classification. Loans in this category possess some credit deficiency or potential weakness, which requires a high level of management attention. Potential weaknesses include declining trends in operating earnings and cash flows and /or reliance on the secondary source of repayment. If left uncorrected, these potential weaknesses may result in noticeable deterioration of the repayment prospects for the asset or in the Company's credit position. Substandard: Loans in this risk grade are inadequately protected by the borrower's current financial condition and payment capability or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the orderly repayment of debt. They are characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected. Doubtful: Loans in this risk grade have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or orderly repayment in full, on the basis of current existing facts, conditions and values, highly questionable and improbable. Possibility of loss is extremely high, but because of certain important and reasonably specific factors that may work to the advantage and strengthening of the exposure, its classification as an estimated loss is deferred until its more exact status may be determined. Note 4. Loans and Allowance for Loan Losses, Continued Credit Risk Management (continued): Uncollectible: Loans in this risk grade are considered to be non-collectible and of such little value that their continuance as bankable assets is not warranted. This does not mean the loan has absolutely no recovery value, but rather it is neither practical nor desirable to defer writing off the loan, even though partial recovery may be obtained in the future. Charge-offs against the allowance for loan losses are taken in the period in which the loan becomes uncollectible. Consequently, the Company typically does not maintain a recorded investment in loans within this category. The following tables outline the amount of each loan classification and the amount categorized into each risk rating as of March 31, 2017 and December 31, 2016 (amounts in thousands): Non PCI Loans March 31, 2017 Commercial Real Estate Consumer Real Estate Construction and Land Development Commercial and Industrial Consumer and Other Total Pass $ 392,338 $ 176,001 $ 113,447 $ 88,723 $ 6,685 $ 777,194 Watch 635 514 87 237 — 1,473 Special mention — 103 — — 229 332 Substandard 243 853 634 209 — 1,939 Doubtful — — — — — — Total $ 393,216 $ 177,471 $ 114,168 $ 89,169 $ 6,914 $ 780,938 PCI Loans March 31, 2017 Commercial Real Estate Consumer Real Estate Construction and Land Development Commercial and Industrial Consumer and Other Total Pass $ 11,617 $ 6,816 $ 848 $ 1,309 $ — $ 20,590 Watch 890 1,280 645 19 — 2,834 Special mention — — — 183 — 183 Substandard 2,176 778 13 — — 2,967 Doubtful — — — 27 — 27 Total $ 14,683 $ 8,874 $ 1,506 $ 1,538 $ — $ 26,601 Total loans $ 407,899 $ 186,345 $ 115,674 $ 90,707 $ 6,914 $ 807,539 Non PCI Loans December 31, 2016 Commercial Real Estate Consumer Real Estate Construction and Land Development Commercial and Industrial Consumer and Other Total Pass $ 399,505 $ 177,466 $ 115,237 $ 82,992 $ 7,238 $ 782,438 Watch 640 550 89 252 — 1,531 Special mention — 104 — — 237 341 Substandard 120 678 865 210 — 1,873 Doubtful — — — — — — Total $ 400,265 $ 178,798 $ 116,191 $ 83,454 $ 7,475 $ 786,183 Note 4. Loans and Allowance for Loan Losses, Continued Credit Risk Management (continued): PCI Loans December 31, 2016 Commercial Real Estate Consumer Real Estate Construction and Land Development Commercial and Industrial Consumer and Other Total Pass $ 11,836 $ 6,811 $ 1,019 $ 1,507 $ — $ 21,173 Watch 1,045 1,577 645 22 — 3,289 Special mention — — — 12 — 12 Substandard 2,062 616 14 — — 2,692 Doubtful — — — 27 — 27 Total $ 14,943 $ 9,004 $ 1,678 $ 1,568 $ — $ 27,193 Total loans $ 415,208 $ 187,802 $ 117,869 $ 85,022 $ 7,475 $ 813,376 Past Due Loans: A loan is considered past due if any required principal and interest payments have not been received as of the date such payments were required to be made under the terms of the loan agreement. Generally, management places a loan on nonaccrual when there is a clear indicator that the borrower’s cash flow may not be sufficient to meet payments as they become due, which is generally when a loan is 90 days past due. The following tables present the aging of the recorded investment in loans as of March 31, 2017 and December 31, 2016 (amounts in thousands): March 31, 2017 30-89 Days Past Due and Accruing Past Due 90 Days or More and Accruing Nonaccrual Total Past Due and NonAccrual PCI Loans Current Loans Total Loans Commercial real estate $ 196 $ — $ 124 $ 320 $ 14,683 $ 392,896 $ 407,899 Consumer real estate 1,180 — 523 1,703 8,874 175,768 186,345 Construction and land development 34 — 634 668 1,506 113,500 115,674 Commercial and industrial 359 27 164 550 1,538 88,619 90,707 Consumer and other 20 — — 20 — 6,894 6,914 Total $ 1,789 $ 27 $ 1,445 $ 3,261 $ 26,601 $ 777,677 $ 807,539 Note 4. Loans and Allowance for Loan Losses, Continued Past Due Loans (continued): December 31, 2016 30-89 Days Past Due and Accruing Past Due 90 Days or More and Accruing Nonaccrual Total Past Due and NonAccrual PCI Loans Current Loans Total Loans Commercial real estate $ 395 $ — $ — $ 395 $ 14,943 $ 399,870 $ 415,208 Consumer real estate 695 699 386 1,780 9,004 177,018 187,802 Construction and land development 690 — 865 1,555 1,678 114,636 117,869 Commercial and industrial 257 — 164 421 1,568 83,033 85,022 Consumer and other 17 — — 17 — 7,458 7,475 Total $ 2,054 $ 699 $ 1,415 $ 4,168 $ 27,193 $ 782,015 $ 813,376 Impaired Loans: The following is an analysis of the impaired loan portfolio, excluding PCI loans, detailing the related allowance recorded as of March 31, 2017 and December 31, 2016 (amounts in thoudands): For the three months ended At March 31, 2017 March 31, 2017 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized Impaired loans without a valuation allowance: Commercial real estate $ 238 $ 241 $ — $ 179 $ 3 Consumer real estate 368 383 — 595 6 Construction and land development 634 634 — 750 — Commercial and industrial 45 45 — 46 1 Consumer and other — — — — — 1,285 1,303 — 1,570 10 Impaired loans with a valuation allowance: Commercial real estate — — — — — Consumer real estate 625 644 68 313 5 Construction and land development — — — — — Commercial and industrial 164 243 4 164 — Consumer and other — — — — — 789 887 72 477 5 Total impaired loans $ 2,074 $ 2,190 $ 72 $ 2,047 $ 15 Note 4. Loans and Allowance for Loan Losses, Continued Impaired Loans (continued): For the year ended At December 31, 2016 December 31, 2016 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized Impaired loans without a valuation allowance: Commercial real estate $ 119 $ 119 $ — $ 1,311 $ 73 Consumer real estate 821 849 — 2,334 100 Construction and land development 865 865 — 967 3 Commercial and industrial 46 46 — 47 4 Consumer and other — — — — — 1,851 1,879 — 4,659 180 Impaired loans with a valuation allowance: Commercial real estate — — — — — Consumer real estate — — — — — Construction and land development — — — — — Commercial and industrial 164 243 4 306 70 Consumer and other — — — — — 164 243 4 306 70 Total impaired loans $ 2,015 $ 2,122 $ 4 $ 4,965 $ 250 Troubled Debt Restructurings: At March 31, 2017 and December 31, 2016 , impaired loans included loans that were classified as Troubled Debt Restructurings ("TDRs"). The restructuring of a loan is considered a TDR if both (i) the borrower is experiencing financial difficulties and (ii) the creditor has granted a concession. In assessing whether or not a borrower is experiencing financial difficulties, the Company considers information currently available regarding the financial condition of the borrower. This information includes, but is not limited to, whether (i) the debtor is currently in payment default on any of its debt; (ii) a payment default is probable in the foreseeable future without the modification; (iii) the debtor has declared or is in the process of declaring bankruptcy; and (iv) the debtor's projected cash flow is sufficient to satisfy contractual payments due under the original terms of the loan without a modification. The Company considers all aspects of the modification to loan terms to determine whether or not a concession has been granted to the borrower. Key factors considered by the Company include the debtor's ability to access funds at a market rate for debt with similar risk characteristics, the significance of the modification relative to unpaid principal balance or collateral value of the debt, and the significance of a delay in the timing of payments relative to the original contractual terms of the loan. The most common concessions granted by the Company generally include one or more modifications to the terms of the debt, such as (i) a reduction in the interest rate for the remaining life of the debt; (ii) an extension of the maturity date at an interest rate lower than the current market rate for new debt with similar risk; (iii) a temporary period of interest-only payments; and (iv) a reduction in the contractual payment amount for either a short period or remaining term of the loan. As of March 31, 2017 and December 31, 2016 , management had approximately, $552,000 and $608,000 , respectively, in loans that met the criteria for restructured, which included approximately $251,000 and $442,000 , respectively, of loans on nonaccrual. A loan is placed back on accrual status when both principal and interest are current and it is probable that management will be able to collect all amounts due (both principal and interest) according to the terms of the loan agreement. Note 4. Loans and Allowance for Loan Losses, Continued Troubled Debt Restructurings (continued): The following table presents a summary of loans that were modified as troubled debt restructurings during the three month period ended March 31, 2017 (amounts in thousands): Pre-Modification Outstanding Recorded Post-Modification Outstanding Recorded March 31, 2017 Number of Contracts Investment Investment Consumer real estate 1 $ 138 $ 138 The following table presents a summary of loans that were modified as troubled debt restructurings during the twelve month period ended December 31, 2016 (amounts in thousands): Pre-Modification Outstanding Recorded Post-Modification Outstanding Recorded December 31, 2016 Number of Contracts Investment Investment Construction and land development 1 $ 278 $ 278 Commercial and industrial 1 $ 164 $ 164 There were no loans that were modified as troubled debt restructurings during the past twelve months and for which there was a subsequent payment default. Purchased Credit Impaired Loans: The Company has acquired loans which there was, at acquisition, evidence of deterioration of credit quality since origination and it was probable, at acquisition, that all contractually required payments would not be collected. The carrying amount of those loans as of is as follows: March 31, 2017 December 31, 2016 Commercial real estate $ 18,105 $ 18,473 Consumer real estate 11,954 12,111 Construction and land development 2,364 2,553 Commercial and industrial 2,380 2,482 Consumer and other — — Total loans 34,803 35,619 Less remaining purchase discount (8,202 ) (8,426 ) Total loans, net of purchase discount 26,601 27,193 Less: Allowance for loan losses — — Carrying amount, net of allowance $ 26,601 $ 27,193 Activity related to the accretable portion of the purchase discount on loans acquired with deteriorated credit quality is as follows for the three months period ended March 31, 2017 and 2016 : Note 4. Loans and Allowance for Loan Losses, Continued Purchased Credit Impaired Loans (continued): Three Months Ended Three Months Ended Accretable yield, beginning of period $ 8,950 $ 10,216 Additions — — Accretion income (697 ) (629 ) Reclassification to accretable 244 (41 ) Other changes, net (15 ) 60 Accretable yield $ 8,482 $ 9,606 |
Employee Benefit Plans
Employee Benefit Plans | 3 Months Ended |
Mar. 31, 2017 | |
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract] | |
Employee Benefit Plans | Employee Benefit Plans 401(k) Plan: The Company provides a deferred salary reduction plan (“ Plan ”) under Section 401 (k) of the Internal Revenue Code covering substantially all employees. After one year of service the Company matches 100 percent of employee contributions up to 3 percent of compensation and 50 percent of employee contributions on the next 2 percent of compensation. The Company's contribution to the Plan for the three month period ending March 31, 2017 and 2016 respectively was $102,716 and $90,856 . Stock Option Plans: The Company has one currently active equity incentive plan administered by the Board of Directors, and four plans or programs, pursuant to which the Company has outstanding prior grants. These plans are described below: Legacy Cornerstone Bancshares, Inc. 2002 Long Term Incentive Plan – The plan provided Cornerstone Bancshares, Inc. officers and employees incentive stock options or non-qualified stock options to purchase shares of common stock. The exercise price for incentive stock options was not less than 100 percent of the fair market value of the common stock on the date of the grant. The exercise price of the non-qualified stock options was equal to or more or less than the fair market value of the common stock on the date of the grant. This plan expired in 2012. Legacy Cornerstone Non-Qualified Plan Options — During 2013 and 2014, Cornerstone issued non-qualified options to employees and directors. The options were originally documented in 2013 as being issued out of the Cornerstone Bancshares, Inc. 2002 Long Term Incentive Plan but that plan expired in 2012. The non-qualified options are governed by the grant document issued to the holders which incorporate the terms of the plan by reference. Legacy SmartBank Stock Option Plan – This plan was assumed by the Company on August 31, 2015. The plan provides for incentive stock options and nonqualified stock options. The maximum number of common shares that could be sold or optioned under the plan is 525,000 shares. Under the plan, the exercise price of each option could not be less than 100 percent of the fair market value of the common stock on the date of grant. Legacy SmartFinancial, Inc. 2010 Incentive Plan - This plan was assumed by the Company on August 31, 2015. This plan provides for incentive stock options, nonqualified stock options, stock appreciation rights, restricted stock, performance awards, dividend equivalents and stock or other stock-based awards. The maximum number of common shares that could be sold or optioned under the plan is 525,000 shares. Under the plan, the exercise price of each option could not be less than 100 percent of the fair market value of the common stock on the date of grant. Note 5. Employee Benefit Plans, Continued Stock Option Plans (Continued): 2015 Stock Incentive Plan – This plan provides for incentive stock options, nonqualified stock options, and restricted stock. The maximum number of shares of common stock that can be sold or optioned under the plan is 2,000,000 shares. The term of each option shall be no more than ten years from the date of grant. In the case of an incentive stock option granted to a participant who, at the time the option is granted, owns stock representing more than ten percent of the voting power of all classes of stock of the Company or any parent or subsidiary thereof, the term of the option shall be five years from the date of grant or such shorter term as may be provided in the award agreement. The per share exercise price for the shares to be issued upon exercise of an option shall be such price as is determined by the plan administrator, subject to the following: In the case of an incentive stock option: (1) granted to an employee who, at the time of grant of such option, owns stock representing more than ten percent of the voting power of all classes of stock of the company or any parent or subsidiary thereof, the exercise price shall be no less than one hundred and ten percent of the fair market value per share on the date of grant; or (2) granted to any other employee, the per share exercise price shall be no less than one hundred percent of the fair market value per share on the date of grant. In the case of a nonstatutory stock option, the per share exercise price shall be no less than one hundred percent of the fair market value per share on the date of grant, unless otherwise determined by the Administrator. The incentive stock options vest 30% on the second anniversary of the grant date, 30% on the third anniversary of the grant date and 40% on the fourth anniversary of the grant date. Director non-qualified stock options vest 50% on the first anniversary of the grant date and 50% on the second anniversary of the grant date. A summary of the status of these stock option plans is presented in the following table: Number Weighted Outstanding at December 31, 2016 717,524 $ 10.57 Exercised (473,558 ) 9.61 Forfeited (18,524 ) 20.27 Outstanding at March 31, 2017 225,442 $ 11.78 Number Weighted Outstanding at December 31, 2015 817,414 $ 10.62 Exercised (89,556 ) 8.98 Forfeited (10,334 ) 28.49 Outstanding at December 31, 2016 717,524 $ 10.57 Note 5. Employee Benefit Plans, Continued Stock Option Plans (continued): Information pertaining to options outstanding at March 31, 2017 , is as follows: Options Outstanding Options Exercisable Weighted- Weighted- Weighted- Exercise Number Contractual Exercise Number Exercise Prices Outstanding Life Price Exercisable Price $ 6.20 750 4.0 years $ 6.20 750 $ 6.20 6.60 41,500 5.0 years 6.60 41,500 6.60 6.80 19,375 3.9 years 6.80 19,375 6.80 9.48 29,375 5.9 years 9.48 29,375 9.48 9.52 525 0.3 years 9.52 525 9.52 9.60 37,625 6.9 years 9.60 37,625 9.60 10.48 20,513 0.4 years 10.48 20,513 10.48 11.67 3,250 3.8 years 11.67 3,250 11.67 14.40 15,180 1.9 years 14.40 15,180 14.40 15.05 42,745 8.5 years 15.05 4,104 15.05 31.96 13,916 0.9 years 31.96 13,916 31.96 60.80 688 0.1 years 60.80 688 60.80 Outstanding, end of period 225,442 5.1 years 11.78 186,801 11.11 The Company recognized stock-based compensation expense of $26,812 and $33,635 for the three months ended March 31, 2017 and March 31, 2016, respectively. For the three months period ended March 31, 2017, direct stock grant expense issued to local advisory board members of $31,791 was included in professional services. There was no direct grant stock grant expense for the three months period ended March 31, 2016. The total fair value of shares underlying the options which vested during the three months period ended March 31, 2017 and March 31, 2016 was $0 and $19,425 , respectively. There were no income tax benefits recognized for the exercise of options for the periods ended March 31, 2017 and March 31, 2016, respectively. The intrinsic value of options exercised during the period ended March 31, 2017 was $5,024,759 . The aggregate intrinsic value of total options outstanding and exercisable options at March 31, 2017 was $2,266,259 and $2,034,800 , respectively. Cash received from options exercised under all share-based payment arrangements for the period ended March 31, 2017 was $4,260,734 . Information related to non-vested options for the period ended March 31, 2017 , is as follows: Number Weighted Nonvested at December 31, 2016 47,970 $ 12.31 Granted — — Vested — — Forfeited/expired (9,329 ) 12.31 Nonvested at March 31, 2017 38,641 $ 12.31 As of March 31, 2017 , there was approximately $340,542 of total unrecognized compensation cost related to nonvested stock-based compensation arrangements granted under the Plans. The cost is expected to be recognized over a weighted-average period of 1.4 years . There were no stock options granted during the three months period ended March 31, 2017 . |
Commitments and Contingent Liab
Commitments and Contingent Liabilities | 3 Months Ended |
Mar. 31, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingent Liabilities | Commitments and Contingent Liabilities Off Balance Sheet Arrangements In the normal course of business, the Bank has entered into off-balance sheet financial instruments which include commitments to extend credit (i.e., including unfunded lines of credit) and standby letters of credit. Commitments to extend credit are usually the result of lines of credit granted to existing borrowers under agreements that the total outstanding indebtedness will not exceed a specific amount during the term of the indebtedness. Typical borrowers are commercial concerns that use lines of credit to supplement their treasury management functions; thus their total outstanding indebtedness may fluctuate during any time period based on the seasonality of their business and the resultant timing of their cash flows. Other typical lines of credit are related to home equity loans granted to consumers. Commitments to extend credit generally have fixed expiration dates or other termination clauses and may require payment of a fee. Standby letters of credit are generally issued on behalf of an applicant (our client) to a specifically named beneficiary and are the result of a particular business arrangement that exists between the applicant and the beneficiary. Standby letters of credit have fixed expiration dates and are usually for terms of two years or less unless terminated beforehand due to criteria specified in the standby letter of credit. A typical arrangement involves the applicant routinely being indebted to the beneficiary for such items as inventory purchases, insurance, utilities, lease guarantees or other third party commercial transactions. The standby letter of credit would permit the beneficiary to obtain payment from the Bank under certain prescribed circumstances. Subsequently, the Bank would seek reimbursement from the applicant pursuant to the terms of the standby letter of credit. The Bank follows the same credit policies and underwriting practices when making these commitments as it does for on-balance sheet instruments. Each client’s creditworthiness is evaluated on a case-by-case basis, and the amount of collateral obtained, if any, is based on management’s credit evaluation of the customer. Collateral held varies but may include cash, real estate and improvements, marketable securities, accounts receivable, inventory, equipment and personal property. The contractual amounts of these commitments are not reflected in the consolidated financial statements and would only be reflected if drawn upon. Since many of the commitments are expected to expire without being drawn upon, the contractual amounts do not necessarily represent future cash requirements. However, should the commitments be drawn upon and should customers default on their resulting obligation to the Bank the maximum exposure to credit loss, without consideration of collateral, is represented by the contractual amount of those instruments. A summary of the Bank’s total contractual amount for all off-balance sheet commitments at March 31, 2017 is as follows: Commitments to extend credit $ 133.4 million Standby letters of credit $ 2.9 million Various legal claims also arise from time to time in the normal course of business. In the opinion of management, the resolution of claims outstanding at March 31, 2017 will not have a material effect on SmartFinancial’s consolidated financial statements. |
Fair Value Disclosures
Fair Value Disclosures | 3 Months Ended |
Mar. 31, 2017 | |
Fair Value Disclosures [Abstract] | |
Fair Value Disclosures | Fair Value Disclosures Determination of Fair Value: The Company uses fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. In accordance with the “Fair Value Measurements and Disclosures” ASC Topic 820, the fair value of a financial instrument is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value is best determined based upon quoted market prices. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. Accordingly, the fair value estimates may not be realized in an immediate settlement of the instrument. ASC Topic 820 provides a consistent definition of fair value, which focuses on exit price in an orderly transaction between market participants at the measurement date under current market conditions. If there has been a significant decrease in the volume and level of activity for the asset or liability, a change in valuation technique or the use of multiple valuation techniques may be appropriate. In such instances, determining the price at which willing market participants would transact at the measurement date under current market conditions depends on the facts and circumstances and requires the use of significant judgment. The fair value is a reasonable point within the range that is most representative of fair value under current market conditions. Note 7. Fair Value Disclosures, Continued Fair Value Hierarchy: In accordance with this guidance, the Company groups its financial assets and financial liabilities generally measured at fair value in three levels, based on the markets in which the assets and liabilities are traded and the reliability of the assumptions used to determine fair value. Level 1 - Valuation is based on quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. Level 1 assets and liabilities generally include debt and equity securities that are traded in an active exchange market. Valuations are obtained from readily available pricing sources for market transactions involving identical assets or liabilities. Level 2 - Valuation is based on inputs other than quoted prices included within Level I that are observable for the asset or liability, either directly or indirectly. The valuation may be based on quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the asset or liability. Level 3 - Valuation is based on unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Level 3 assets and liabilities include financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which determination of fair value requires significant management judgment or estimation. A financial instrument's categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The following methods and assumptions were used by the Company in estimating fair value disclosures for financial instruments: Cash and Cash Equivalents: For cash and due from banks, interest-bearing deposits, and federal funds sold, the carrying amount is a reasonable estimate of fair value based on the short-term nature of the assets and are considered Level 1 inputs. Securities Available for Sale: Where quoted prices are available in an active market, management classifies the securities within Level 1 of the valuation hierarchy. If quoted market prices are not available, management estimates fair values using pricing models and discounted cash flows that consider standard input factors such as observable market data, benchmark yields, interest rate volatilities, broker/dealer quotes, and credit spreads. Examples of such instruments, which would generally be classified within Level 2 of the valuation hierarchy, including GSE obligations, corporate bonds, and other securities. Mortgage-backed securities are included in Level 2 if observable inputs are available. In certain cases where there is limited activity or less transparency around inputs to the valuation, management classifies those securities in Level 3. Restricted Investments: It is not practicable to determine the fair value of restricted investments due the restrictions placed on its transferability. Loans: For variable-rate loans that reprice frequently and with no significant change in credit risk, fair values are based on carrying values. Fair value for fixed rate loans are estimated using discounted cash flow analyses, using market interest rates for comparable loans. Fair values for nonperforming loans are estimated using discounted cash flow analyses or underlying collateral values, where applicable. These methods are considered Level 3 inputs. Deposits: The fair values disclosed for demand deposits (for example, interest and noninterest checking, savings, and certain types of money market accounts) are, by definition, equal to the amount payable on demand at the reporting date (that is, their carrying amounts) and are considered Level 1 inputs. Fair values for fixed-rate certificates of deposit are estimated using a discounted cash flow calculation that applies market interest rates on comparable instruments to a schedule of aggregated expected monthly maturities on time deposits, and are considered Level 2 inputs. Securities Sold Under Agreement to Repurchase: The carrying value of these liabilities approximates their fair value, and are considered Level 1 inputs. Federal Home Loan Bank Advances and Other Borrowings: The fair value of the FHLB fixed rate borrowings are estimated using discounted cash flows, based on the current incremental borrowing rates for similar types of borrowing arrangements, and are considered Level 2 inputs. Note 7. Fair Value Disclosures, Continued Fair Value Hierarchy (continued): Commitments to Extend Credit and Standby Letters of Credit: Because commitments to extend credit and standby letters of credit are made using variable rates and have short maturities, the carrying value and the fair value are immaterial for disclosure. Measurements of Fair Value: Assets and liabilities recorded at fair value on a recurring basis are as follows (in thousands): Balance as of Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Other Unobservable Inputs (Level 3) Debt securities available-for-sale: U.S. Government-sponsored enterprises (GSEs) $ 17,798 $ — $ 17,798 $ — Mortgage-backed securities 110,051 — 110,051 — Other debt securities 946 946 Municipal securities 8,338 — 8,338 — Total securities available-for-sale $ 137,133 $ — $ 137,133 $ — Balance as of Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Other Unobservable Inputs (Level 3) Debt securities available-for-sale: U.S. Government-sponsored enterprises (GSEs) $ 17,723 $ — $ 17,723 $ — Mortgage-backed securities: 103,680 — 103,680 — Municipal securities 8,019 — 8,019 — Total securities available-for-sale $ 129,422 $ — $ 129,422 $ — The Company has no assets or liabilities whose fair values are measured on a recurring basis using Level 3 inputs. Additionally, there were no transfers between Level 1 and Level 2 in the fair value hierarchy. Assets Measured at Fair Value on a Nonrecurring Basis: Under certain circumstances management makes adjustments to fair value for assets and liabilities although they are not measured at fair value on an ongoing basis. The following tables present the financial instruments carried on the consolidated balance sheets by caption and by level in the fair value hierarchy, for which a nonrecurring change in fair value has been recorded (in thousands): Balance as of Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Other Unobservable Inputs (Level 3) Impaired loans $ 717 $ — $ — $ 717 Foreclosed assets 2,371 — — 2,371 Note 7. Fair Value Disclosures, Continued Assets Measured at Fair Value on a Nonrecurring Basis (continued): Balance as of Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Other Unobservable Inputs (Level 3) Impaired loans $ 239 $ — $ — $ 239 Foreclosed assets 2,386 — — 2,386 For Level 3 assets measured at fair value on a non-recurring basis as of March 31, 2017 and December 31, 2016 a, the significant unobservable inputs used in the fair value measurements are presented below (in thousands). Balance as of Valuation Technique Significant Other Unobservable Input Weighted Average of Input Impaired loans $ 717 Appraisal Discounted Cash Flow / Appraisal Discounts 9.1 % Foreclosed assets 2,371 Appraisal Appraisal Discounts 22.5 % Balance as of Valuation Technique Significant Other Unobservable Input Weighted Average of Input Impaired loans $ 239 Cash Flow Discounted Cash Flow / Appraisal Discounts 2.4 % Foreclosed assets 2,386 Appraisal Appraisal Discounts 12.2 % Impaired Loans: Loans considered impaired under ASC 310-10-35, Receivables , are loans for which, based on current information and events, it is probable that the Company will be unable to collect all principal and interest payments due in accordance with the contractual terms of the loan agreement. Impaired loans can be measured based on the present value of expected payments using the loan’s original effective rate as the discount rate, the loan’s observable market price, or the fair value of the collateral less selling costs if the loan is collateral dependent. The fair value of impaired loans were measured based on the value of the collateral securing these loans or the discounted cash flows of the loans, as applicable. Impaired loans are classified within Level 3 of the fair value hierarchy. Collateral may be real estate and/or business assets including equipment, inventory, and/or accounts receivable. The Company determines the value of the collateral based on independent appraisals performed by qualified licensed appraisers. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. Appraised values are discounted for costs to sell and may be discounted further based on management’s historical knowledge, changes in market conditions from the date of the most recent appraisal, and/or management’s expertise and knowledge of the customer and the customer’s business. Such discounts by management are subjective and are typically significant unobservable inputs for determining fair value. Impaired loans are reviewed and evaluated on at least a quarterly basis for additional impairment and adjusted accordingly, based on the same factors discussed above. Note 7. Fair Value Disclosures, Continued Assets Measured at Fair Value on a Nonrecurring Basis(continued): Foreclosed assets: Foreclosed assets, consisting of properties obtained through foreclosure or in satisfaction of loans, are initially recorded at fair value less estimated costs to sell upon transfer of the loans to other real estate. Subsequently, other real estate is carried at the lower of carrying value or fair value less costs to sell. Fair values are generally based on third party appraisals of the property and are classified within Level 3 of the fair value hierarchy. The appraisals are sometimes further discounted based on management’s historical knowledge, and/or changes in market conditions from the date of the most recent appraisal, and/or management’s expertise and knowledge of the customer and the customer’s business. Such discounts are typically significant unobservable inputs for determining fair value. In cases where the carrying amount exceeds the fair value, less estimated costs to sell, a loss is recognized in noninterest expense. Carrying value and estimated fair value: The carrying amount and estimated fair value of the Company’s financial instruments at March 31, 2017 and December 31, 2016 are as follows (in thousands): March 31, 2017 December 31, 2016 Carrying Amount Estimated Fair Value Carrying Amount Estimated Fair Value Assets: Cash and cash equivalents $ 55,548 $ 55,548 $ 68,748 $ 68,748 Securities available for sale 137,133 137,133 129,422 129,422 Restricted investments 5,628 N/A 5,628 N/A Loans, net 802,387 795,077 808,271 803,057 Liabilities: Noninterest-bearing demand deposits 160,673 160,673 153,483 153,483 Interest-bearing demand deposits 167,433 167,433 162,702 162,702 Money Market and Savings deposits 274,993 274,993 274,605 274,605 Time deposits 286,600 286,414 316,275 316,734 Securities sold under agreements to repurchase 23,153 23,153 26,622 26,622 Federal Home Loan Bank advances and other borrowings 60 60 18,505 18,505 Limitations Fair value estimates are made at a specific point in time, based on relevant market information and information about the financial instrument. These estimates do not reflect any premium or discount that could result from offering for sale at one time the Company’s entire holdings of a particular financial instrument. Because no market exists for a significant portion of the Company’s financial instruments, fair value estimates are based on many judgments. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and therefore cannot be determined with precision. Changes in assumptions could significantly affect the estimates. Fair value estimates are based on existing on and off-balance sheet financial instruments without attempting to estimate the value of anticipated future business and the value of assets and liabilities that are not considered financial instruments. Significant assets and liabilities that are not considered financial instruments include deferred income taxes and premises and equipment. In addition, the tax ramifications related to the realization of the unrealized gains and losses can have a significant effect on fair value estimates and have not been considered in the estimates. |
Small Business Lending Fund
Small Business Lending Fund | 3 Months Ended |
Mar. 31, 2017 | |
Small Business Lending Fund [Abstract] | |
Small Business Lending Fund | Small Business Lending Fund During 2011, the Company issued to the Secretary of the Treasury 12,000 shares of preferred stock at $1,000 per share under the Small Business Lending Fund Program (the " SBLF Program "). Subject to regulatory approval, the Company may redeem the preferred stock for $1,000 per share, plus accrued and unpaid dividends, in whole or in part at any time. The SBLF Program is a voluntary program authorized under the Business Jobs Acts of 2010, whereby the United States Treasury can make capital investments in eligible institutions; the capital investments, in turn, are designed to increase the availability of credit for small businesses and promote economic growth by providing capital to qualified community banks at favorable rates. The Company paid cash dividends at a one percent rate or $120,000 for the year ended December 31, 2015 . On February 4, 2016 the dividend rate for the preferred shares increased to nine percent and as a result the company incurred preferred stock dividends of $1,022,000 for the year ended December 31, 2016 . On January 30, 2017, the Company completed a public offering of 2,010,084 million shares of its common stock, par value $1.00 per share, with the net proceeds to the Company of approximately $33.2 million . Subsequent to the public offering the Company used proceeds from the offering to redeem the $12 million of preferred stock and pay the $195 thousand accrued dividend on March 6, 2017. |
Presentation of Financial Inf17
Presentation of Financial Information (Policies) | 3 Months Ended |
Mar. 31, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Nature of Business | Nature of Business: SmartFinancial, Inc. (the “Company”) is a bank holding company whose principal activity is the ownership and management of its wholly-owned subsidiary, SmartBank (the “Bank”). The Company provides a variety of financial services to individuals and corporate customers through its offices in eastern Tennessee, northwest Florida, and north Georgia. The Company’s primary deposit products are interest-bearing demand deposits and certificates of deposit. Its primary lending products are commercial, residential, and consumer loans. |
Interim Financial Information (Unaudited) | Interim Financial Information (Unaudited): The financial information in this report for March 31, 2017 and March 31, 2016 has not been audited. The information included herein should be read in conjunction with the Company’s 2016 annual consolidated financial statements and footnotes included elsewhere. The consolidated financial statements presented herein conform to U.S. generally accepted accounting principles and to general industry practices. In the opinion of SmartFinancial’s management, the accompanying interim financial statements contain all material adjustments necessary to present fairly the financial condition, the results of operations, and cash flows for the interim period. Results for interim periods are not necessarily indicative of the results to be expected for a full year. |
Basis of Presentation and Accounting Estimates | Basis of Presentation and Accounting Estimates: All adjustments consisting of normal recurring accruals, that in the opinion of management, are necessary for a fair presentation of the financial position and the results of operations for the periods covered by the report have been included. The accompanying unaudited consolidated financial statements and related notes should be read in conjunction with those appearing the in the 2016 Annual Report previously filed on Form 10-K. The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary. All significant intercompany balances and transactions have been eliminated in consolidation. In preparing the consolidated financial statements in conformity with accounting principles generally accepted in the United States of America, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the balance sheet, and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term relate to the determination of the allowance for loan losses, the valuation of foreclosed assets and deferred taxes, other-than-temporary impairments of securities, and the fair value of financial instruments. The determination of the adequacy of the allowance for loan losses is based on estimates that are particularly susceptible to significant changes in the economic environment and market conditions. In connection with the determination of the estimated losses on loans, management obtains independent appraisals for significant collateral. The Company’s loans are generally secured by specific items of collateral including real property, consumer assets, and business assets. Although the Company has a diversified loan portfolio, a substantial portion of its debtors’ ability to honor their contracts is dependent on local economic conditions. While management uses available information to recognize losses on loans, further reductions in the carrying amounts of loans may be necessary based on changes in local economic conditions. In addition, regulatory agencies, as an integral part of their examination process, periodically review the estimated losses on loans. Such agencies may require the Company to recognize additional losses based on their judgments about information available to them at the time of their examination. Because of these factors, it is reasonably possible that the estimated losses on loans may change materially in the near term. However, the amount of the change that is reasonably possible cannot be estimated. |
Recently Issued Accounting Pronouncements | Recently Issued Accounting Pronouncements: During interim periods, the Company follows the accounting policies set forth in its annual audited financial statements for the year ended December 31, 2016 as filed with the Securities and Exchange Commission. The following is a summary of recent authoritative pronouncements not yet effective that could impact the accounting, reporting, and/or disclosure of financial information by the Company issued since December 31, 2016 . In January 2017, FASB issued ASU No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business. The ASU clarifies the definition of a business to assist with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The amendments in this update are effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The Company does not expect these amendments to have a material effect on its financial statements. In January 2017, FASB issued ASU No. 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment . The ASU simplifies the subsequent measurement of goodwill and eliminates Step 2 from the goodwill impairment test. The Company should perform its goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An impairment charge should be recognized for the amount by which the carrying amount exceeds the reporting unit's fair value. The impairment charge is limited to the amount of goodwill allocated to that reporting unit. The amendments in this update are effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Early adoption is permitted for goodwill impairment tests performed on testing dates after January 1, 2017. The Company does not expect these amendments to have a material effect on its financial statements. In March 2017, FASB issued ASU No. 2017-08, Receivables - Nonrefundable Fees and Other Costs (Topic 310-20): Premium Amortization on Purchased Callable Debt Securities. The ASU shortens the amortization period for certain callable debt securities held at a premium. The premium on individual callable debt securities shall be amortized to the earliest call date. This guidance does not apply to securities for which prepayments are estimated on a large number of similar loans where prepayments are probable and reasonably estimable. The amendments in this update are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early adoption is permitted. This update should be adopted on a modified retrospective basis with a cumulative-effect adjustment to retained earnings on the date of adoption. The Company does not expect these amendments to have a material effect on its financial statements. |
Earnings Per Common Share | Earnings per common share: Basic earnings per common share represents income available to common stockholders divided by the weighted-average number of common shares outstanding during the period. Diluted earnings per common share reflects additional common shares that would have been outstanding if dilutive potential common shares had been issued, as well as any adjustment to income that would result from the assumed issuance. Potential common shares that may be issued by the Company relate solely to outstanding stock options and are determined using the treasury stock method. |
Earnings per share (Tables)
Earnings per share (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted | The following is a summary of the basic and diluted earnings per share for the three month periods ended March 31, 2017 and March 31, 2016 . Three Months Ended March 31, 2017 2016 Net income available to common shareholders $ 1,448,851 $ 1,136,863 Weighted average common shares outstanding 7,524,830 5,807,488 Effect of dilutive stock options 106,389 300,599 Diluted shares 7,631,219 6,108,087 Basic earnings per common share $ 0.19 $ 0.20 Diluted earnings per common share $ 0.19 $ 0.19 |
Securities (Tables)
Securities (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Investments, Debt and Equity Securities [Abstract] | |
Schedule of Available-For-Sale Securities Reconciliation | The amortized cost and fair value of securities available-for-sale at March 31, 2017 and December 31, 2016 are summarized as follows (in thousands): March 31, 2017 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. Government-sponsored enterprises (GSEs) $ 18,261 $ 5 $ (468 ) $ 17,798 Municipal securities 8,434 23 (119 ) 8,338 Other debt securities 972 — (26 ) 946 Mortgage-backed securities 110,573 228 (750 ) 110,051 $ 138,240 $ 256 $ (1,363 ) $ 137,133 December 31, 2016 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. Government-sponsored enterprises (GSEs) $ 18,279 $ 8 $ (564 ) $ 17,723 Municipal securities 8,182 16 (179 ) 8,019 Mortgage-backed securities 104,585 185 (1,090 ) 103,680 $ 131,046 $ 209 $ (1,833 ) $ 129,422 |
Investments Classified by Contractual Maturity Date | The amortized cost and estimated fair value of securities at March 31, 2017 , by contractual maturity, are shown below (in thousands). Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Amortized Cost Fair Value Due in one year or less $ 3,011 $ 3,011 Due from one year to five years 12,391 12,048 Due from five years to ten years 8,543 8,341 Due after ten years 3,722 3,682 27,667 27,082 Mortgage-backed securities 110,573 110,051 $ 138,240 $ 137,133 |
Schedule of Unrealized Loss on Investments | The following tables present the gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities available-for-sale have been in a continuous unrealized loss position, as of March 31, 2017 and December 31, 2016 (in thousands): As of March 31, 2017 Less than 12 Months 12 Months or Greater Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses U.S. Government- sponsored enterprises (GSEs) 14,379 (468 ) — — 14,379 (468 ) Municipal securities 5,115 (118 ) 254 (1 ) 5,369 (119 ) Other debt securities 945 (26 ) — — 945 (26 ) Mortgage-backed securities 62,827 (380 ) 12,129 (370 ) 74,956 (750 ) 83,266 (992 ) 12,383 (371 ) 95,649 (1,363 ) As of December 31, 2016 Less than 12 Months 12 Months or Greater Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses U.S. Government- sponsored enterprises (GSEs) $ 14,702 $ (564 ) $ — $ — $ 14,702 $ (564 ) Municipal securities 6,368 (179 ) — — 6,368 (179 ) Mortgage-backed securities 67,063 (690 ) 8,948 (400 ) 76,011 (1,090 ) $ 88,133 $ (1,433 ) $ 8,948 $ (400 ) $ 97,081 $ (1,833 ) |
Loans and Allowance for Loan 20
Loans and Allowance for Loan Losses (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Receivables [Abstract] | |
Schedule of Accounts, Notes, Loans and Financing Receivable | At March 31, 2017 and December 31, 2016 , loans are summarized as follows (in thousands): March 31, 2017 December 31, 2016 PCI Loans All Other Loans Total PCI Loans All Other Loans Total Commercial real estate $ 14,683 $ 393,216 $ 407,899 $ 14,943 $ 400,265 $ 415,208 Consumer real estate 8,874 177,471 186,345 9,004 178,798 187,802 Construction and land development 1,506 114,168 115,674 1,678 116,191 117,869 Commercial and industrial 1,538 89,169 90,707 1,568 83,454 85,022 Consumer and other — 6,914 6,914 — 7,475 7,475 Total loans 26,601 780,938 807,539 27,193 786,183 813,376 Less: Allowance for loan losses — (5,152 ) (5,152 ) — (5,105 ) (5,105 ) Loans, net $ 26,601 $ 775,786 $ 802,387 $ 27,193 $ 781,078 $ 808,271 |
Schedule of Impaired and Performing Loans Receivable | The composition of loans by loan classification for impaired and performing loan status at March 31, 2017 and December 31, 2016 , is summarized in the tables below (amounts in thousands): March 31, 2017 Commercial Real Estate Consumer Real Estate Construction and Land Development Commercial and Industrial Consumer and Other Total Performing loans $ 392,978 $ 176,478 $ 113,534 $ 88,960 $ 6,914 $ 778,864 Impaired loans 238 993 634 209 — 2,074 393,216 177,471 114,168 89,169 6,914 780,938 PCI loans 14,683 8,874 1,506 1,538 — 26,601 Total $ 407,899 $ 186,345 $ 115,674 $ 90,707 $ 6,914 $ 807,539 December 31, 2016 Commercial Real Estate Consumer Real Estate Construction and Land Development Commercial and Industrial Consumer and Other Total Performing loans $ 400,146 $ 177,977 $ 115,326 $ 83,244 $ 7,475 $ 784,168 Impaired loans 119 821 865 210 — 2,015 400,265 178,798 116,191 83,454 7,475 786,183 PCI loans 14,943 9,004 1,678 1,568 — 27,193 Total loans $ 415,208 $ 187,802 $ 117,869 $ 85,022 $ 7,475 $ 813,376 |
Schedule of Allowance for Loan Losses for Impaired and Performing Loans Receivable | The following tables show the allowance for loan losses allocation by loan classification for impaired, PCI, and performing loans as of March 31, 2017 and December 31, 2016 (amounts in thousands): March 31, 2017 Commercial Real Estate Consumer Real Estate Construction and Land Development Commercial and Industrial Consumer and Other Total Performing loans $ 2,329 $ 1,398 $ 706 $ 554 $ 93 $ 5,080 Impaired loans — 68 — 4 — 72 Total $ 2,329 $ 1,466 $ 706 $ 558 $ 93 $ 5,152 December 31, 2016 Commercial Real Estate Consumer Real Estate Construction and Land Development Commercial and Industrial Consumer and Other Total Performing loans $ 2,369 $ 1,382 $ 717 $ 516 $ 117 $ 5,101 Impaired loans — — — 4 — 4 Total $ 2,369 $ 1,382 $ 717 $ 520 $ 117 $ 5,105 |
Schedule of Financing Receivable Allowance for Credit Losses | The following tables detail the changes in the allowance for loan losses for the three month period ending March 31, 2017 and year ending December 31, 2016 , by loan classification (amounts in thousands): March 31, 2017 Commercial Real Estate Consumer Real Estate Construction and Land Development Commercial and Industrial Consumer and Other Total Beginning balance $ 2,369 $ 1,382 $ 717 $ 520 $ 117 $ 5,105 Loans charged off — — — (3 ) (22 ) (25 ) Recoveries of loans charged off 5 17 5 16 17 60 Provision (reallocation) charged to operating expense (45 ) 67 (16 ) 25 (19 ) 12 Ending balance $ 2,329 $ 1,466 $ 706 $ 558 $ 93 $ 5,152 December 31, 2016 Commercial Real Estate Consumer Real Estate Construction and Land Development Commercial and Industrial Consumer and Other Total Beginning balance $ 1,906 $ 1,015 $ 627 $ 777 $ 29 $ 4,354 Loans charged off — (102 ) (14 ) (35 ) (155 ) (306 ) Recoveries of charge-offs 45 76 22 58 68 269 Provision (reallocation) charged to operating expense 418 393 82 (280 ) 175 788 Ending balance $ 2,369 $ 1,382 $ 717 $ 520 $ 117 $ 5,105 |
Financing Receivable Credit Quality Indicators | The following tables outline the amount of each loan classification and the amount categorized into each risk rating as of March 31, 2017 and December 31, 2016 (amounts in thousands): Non PCI Loans March 31, 2017 Commercial Real Estate Consumer Real Estate Construction and Land Development Commercial and Industrial Consumer and Other Total Pass $ 392,338 $ 176,001 $ 113,447 $ 88,723 $ 6,685 $ 777,194 Watch 635 514 87 237 — 1,473 Special mention — 103 — — 229 332 Substandard 243 853 634 209 — 1,939 Doubtful — — — — — — Total $ 393,216 $ 177,471 $ 114,168 $ 89,169 $ 6,914 $ 780,938 PCI Loans March 31, 2017 Commercial Real Estate Consumer Real Estate Construction and Land Development Commercial and Industrial Consumer and Other Total Pass $ 11,617 $ 6,816 $ 848 $ 1,309 $ — $ 20,590 Watch 890 1,280 645 19 — 2,834 Special mention — — — 183 — 183 Substandard 2,176 778 13 — — 2,967 Doubtful — — — 27 — 27 Total $ 14,683 $ 8,874 $ 1,506 $ 1,538 $ — $ 26,601 Total loans $ 407,899 $ 186,345 $ 115,674 $ 90,707 $ 6,914 $ 807,539 Non PCI Loans December 31, 2016 Commercial Real Estate Consumer Real Estate Construction and Land Development Commercial and Industrial Consumer and Other Total Pass $ 399,505 $ 177,466 $ 115,237 $ 82,992 $ 7,238 $ 782,438 Watch 640 550 89 252 — 1,531 Special mention — 104 — — 237 341 Substandard 120 678 865 210 — 1,873 Doubtful — — — — — — Total $ 400,265 $ 178,798 $ 116,191 $ 83,454 $ 7,475 $ 786,183 Note 4. Loans and Allowance for Loan Losses, Continued Credit Risk Management (continued): PCI Loans December 31, 2016 Commercial Real Estate Consumer Real Estate Construction and Land Development Commercial and Industrial Consumer and Other Total Pass $ 11,836 $ 6,811 $ 1,019 $ 1,507 $ — $ 21,173 Watch 1,045 1,577 645 22 — 3,289 Special mention — — — 12 — 12 Substandard 2,062 616 14 — — 2,692 Doubtful — — — 27 — 27 Total $ 14,943 $ 9,004 $ 1,678 $ 1,568 $ — $ 27,193 Total loans $ 415,208 $ 187,802 $ 117,869 $ 85,022 $ 7,475 $ 813,376 |
Past Due Financing Receivables | The following tables present the aging of the recorded investment in loans as of March 31, 2017 and December 31, 2016 (amounts in thousands): March 31, 2017 30-89 Days Past Due and Accruing Past Due 90 Days or More and Accruing Nonaccrual Total Past Due and NonAccrual PCI Loans Current Loans Total Loans Commercial real estate $ 196 $ — $ 124 $ 320 $ 14,683 $ 392,896 $ 407,899 Consumer real estate 1,180 — 523 1,703 8,874 175,768 186,345 Construction and land development 34 — 634 668 1,506 113,500 115,674 Commercial and industrial 359 27 164 550 1,538 88,619 90,707 Consumer and other 20 — — 20 — 6,894 6,914 Total $ 1,789 $ 27 $ 1,445 $ 3,261 $ 26,601 $ 777,677 $ 807,539 Note 4. Loans and Allowance for Loan Losses, Continued Past Due Loans (continued): December 31, 2016 30-89 Days Past Due and Accruing Past Due 90 Days or More and Accruing Nonaccrual Total Past Due and NonAccrual PCI Loans Current Loans Total Loans Commercial real estate $ 395 $ — $ — $ 395 $ 14,943 $ 399,870 $ 415,208 Consumer real estate 695 699 386 1,780 9,004 177,018 187,802 Construction and land development 690 — 865 1,555 1,678 114,636 117,869 Commercial and industrial 257 — 164 421 1,568 83,033 85,022 Consumer and other 17 — — 17 — 7,458 7,475 Total $ 2,054 $ 699 $ 1,415 $ 4,168 $ 27,193 $ 782,015 $ 813,376 |
Impaired Financing Receivables | The following is an analysis of the impaired loan portfolio, excluding PCI loans, detailing the related allowance recorded as of March 31, 2017 and December 31, 2016 (amounts in thoudands): For the three months ended At March 31, 2017 March 31, 2017 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized Impaired loans without a valuation allowance: Commercial real estate $ 238 $ 241 $ — $ 179 $ 3 Consumer real estate 368 383 — 595 6 Construction and land development 634 634 — 750 — Commercial and industrial 45 45 — 46 1 Consumer and other — — — — — 1,285 1,303 — 1,570 10 Impaired loans with a valuation allowance: Commercial real estate — — — — — Consumer real estate 625 644 68 313 5 Construction and land development — — — — — Commercial and industrial 164 243 4 164 — Consumer and other — — — — — 789 887 72 477 5 Total impaired loans $ 2,074 $ 2,190 $ 72 $ 2,047 $ 15 Note 4. Loans and Allowance for Loan Losses, Continued Impaired Loans (continued): For the year ended At December 31, 2016 December 31, 2016 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized Impaired loans without a valuation allowance: Commercial real estate $ 119 $ 119 $ — $ 1,311 $ 73 Consumer real estate 821 849 — 2,334 100 Construction and land development 865 865 — 967 3 Commercial and industrial 46 46 — 47 4 Consumer and other — — — — — 1,851 1,879 — 4,659 180 Impaired loans with a valuation allowance: Commercial real estate — — — — — Consumer real estate — — — — — Construction and land development — — — — — Commercial and industrial 164 243 4 306 70 Consumer and other — — — — — 164 243 4 306 70 Total impaired loans $ 2,015 $ 2,122 $ 4 $ 4,965 $ 250 |
Troubled Debt Restructurings on Financing Receivables | The following table presents a summary of loans that were modified as troubled debt restructurings during the three month period ended March 31, 2017 (amounts in thousands): Pre-Modification Outstanding Recorded Post-Modification Outstanding Recorded March 31, 2017 Number of Contracts Investment Investment Consumer real estate 1 $ 138 $ 138 The following table presents a summary of loans that were modified as troubled debt restructurings during the twelve month period ended December 31, 2016 (amounts in thousands): Pre-Modification Outstanding Recorded Post-Modification Outstanding Recorded December 31, 2016 Number of Contracts Investment Investment Construction and land development 1 $ 278 $ 278 Commercial and industrial 1 $ 164 $ 164 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period, Carrying Amount of Loans | The Company has acquired loans which there was, at acquisition, evidence of deterioration of credit quality since origination and it was probable, at acquisition, that all contractually required payments would not be collected. The carrying amount of those loans as of is as follows: March 31, 2017 December 31, 2016 Commercial real estate $ 18,105 $ 18,473 Consumer real estate 11,954 12,111 Construction and land development 2,364 2,553 Commercial and industrial 2,380 2,482 Consumer and other — — Total loans 34,803 35,619 Less remaining purchase discount (8,202 ) (8,426 ) Total loans, net of purchase discount 26,601 27,193 Less: Allowance for loan losses — — Carrying amount, net of allowance $ 26,601 $ 27,193 |
Schedule of Certain Loans Acquired in Transfer Accounted for as Debt Securities, Accretable Yield Movement | Activity related to the accretable portion of the purchase discount on loans acquired with deteriorated credit quality is as follows for the three months period ended March 31, 2017 and 2016 : Note 4. Loans and Allowance for Loan Losses, Continued Purchased Credit Impaired Loans (continued): Three Months Ended Three Months Ended Accretable yield, beginning of period $ 8,950 $ 10,216 Additions — — Accretion income (697 ) (629 ) Reclassification to accretable 244 (41 ) Other changes, net (15 ) 60 Accretable yield $ 8,482 $ 9,606 |
Employee Benefit Plans (Tables)
Employee Benefit Plans (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract] | |
Schedule of Share-based Compensation, Stock Options, Activity | A summary of the status of these stock option plans is presented in the following table: Number Weighted Outstanding at December 31, 2016 717,524 $ 10.57 Exercised (473,558 ) 9.61 Forfeited (18,524 ) 20.27 Outstanding at March 31, 2017 225,442 $ 11.78 Number Weighted Outstanding at December 31, 2015 817,414 $ 10.62 Exercised (89,556 ) 8.98 Forfeited (10,334 ) 28.49 Outstanding at December 31, 2016 717,524 $ 10.57 |
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range | Information pertaining to options outstanding at March 31, 2017 , is as follows: Options Outstanding Options Exercisable Weighted- Weighted- Weighted- Exercise Number Contractual Exercise Number Exercise Prices Outstanding Life Price Exercisable Price $ 6.20 750 4.0 years $ 6.20 750 $ 6.20 6.60 41,500 5.0 years 6.60 41,500 6.60 6.80 19,375 3.9 years 6.80 19,375 6.80 9.48 29,375 5.9 years 9.48 29,375 9.48 9.52 525 0.3 years 9.52 525 9.52 9.60 37,625 6.9 years 9.60 37,625 9.60 10.48 20,513 0.4 years 10.48 20,513 10.48 11.67 3,250 3.8 years 11.67 3,250 11.67 14.40 15,180 1.9 years 14.40 15,180 14.40 15.05 42,745 8.5 years 15.05 4,104 15.05 31.96 13,916 0.9 years 31.96 13,916 31.96 60.80 688 0.1 years 60.80 688 60.80 Outstanding, end of period 225,442 5.1 years 11.78 186,801 11.11 |
Schedule Of Share Based Compensation Arrangement By Share Based Payment Award Options Non Vested | Information related to non-vested options for the period ended March 31, 2017 , is as follows: Number Weighted Nonvested at December 31, 2016 47,970 $ 12.31 Granted — — Vested — — Forfeited/expired (9,329 ) 12.31 Nonvested at March 31, 2017 38,641 $ 12.31 |
Commitments and Contingent Li22
Commitments and Contingent Liabilities (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | |
Other Commitments | A summary of the Bank’s total contractual amount for all off-balance sheet commitments at March 31, 2017 is as follows: Commitments to extend credit $ 133.4 million Standby letters of credit $ 2.9 million |
Fair Value Disclosures (Tables)
Fair Value Disclosures (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Fair Value Disclosures [Abstract] | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis | Assets and liabilities recorded at fair value on a recurring basis are as follows (in thousands): Balance as of Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Other Unobservable Inputs (Level 3) Debt securities available-for-sale: U.S. Government-sponsored enterprises (GSEs) $ 17,798 $ — $ 17,798 $ — Mortgage-backed securities 110,051 — 110,051 — Other debt securities 946 946 Municipal securities 8,338 — 8,338 — Total securities available-for-sale $ 137,133 $ — $ 137,133 $ — Balance as of Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Other Unobservable Inputs (Level 3) Debt securities available-for-sale: U.S. Government-sponsored enterprises (GSEs) $ 17,723 $ — $ 17,723 $ — Mortgage-backed securities: 103,680 — 103,680 — Municipal securities 8,019 — 8,019 — Total securities available-for-sale $ 129,422 $ — $ 129,422 $ — |
Fair Value, Assets and Liabilities Measured on Non-Recurring Basis | Balance as of Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Other Unobservable Inputs (Level 3) Impaired loans $ 717 $ — $ — $ 717 Foreclosed assets 2,371 — — 2,371 Note 7. Fair Value Disclosures, Continued Assets Measured at Fair Value on a Nonrecurring Basis (continued): Balance as of Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Other Unobservable Inputs (Level 3) Impaired loans $ 239 $ — $ — $ 239 Foreclosed assets 2,386 — — 2,386 |
Fair Value, Assets Measured On Non-Recurring Basis, Unobservable Input Reconciliation | For Level 3 assets measured at fair value on a non-recurring basis as of March 31, 2017 and December 31, 2016 a, the significant unobservable inputs used in the fair value measurements are presented below (in thousands). Balance as of Valuation Technique Significant Other Unobservable Input Weighted Average of Input Impaired loans $ 717 Appraisal Discounted Cash Flow / Appraisal Discounts 9.1 % Foreclosed assets 2,371 Appraisal Appraisal Discounts 22.5 % Balance as of Valuation Technique Significant Other Unobservable Input Weighted Average of Input Impaired loans $ 239 Cash Flow Discounted Cash Flow / Appraisal Discounts 2.4 % Foreclosed assets 2,386 Appraisal Appraisal Discounts 12.2 % |
Fair Value, by Balance Sheet Grouping | The carrying amount and estimated fair value of the Company’s financial instruments at March 31, 2017 and December 31, 2016 are as follows (in thousands): March 31, 2017 December 31, 2016 Carrying Amount Estimated Fair Value Carrying Amount Estimated Fair Value Assets: Cash and cash equivalents $ 55,548 $ 55,548 $ 68,748 $ 68,748 Securities available for sale 137,133 137,133 129,422 129,422 Restricted investments 5,628 N/A 5,628 N/A Loans, net 802,387 795,077 808,271 803,057 Liabilities: Noninterest-bearing demand deposits 160,673 160,673 153,483 153,483 Interest-bearing demand deposits 167,433 167,433 162,702 162,702 Money Market and Savings deposits 274,993 274,993 274,605 274,605 Time deposits 286,600 286,414 316,275 316,734 Securities sold under agreements to repurchase 23,153 23,153 26,622 26,622 Federal Home Loan Bank advances and other borrowings 60 60 18,505 18,505 |
Earnings per share (Details)
Earnings per share (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Earnings Per Share [Abstract] | ||
Net income available to common shareholders | $ 1,448,851 | $ 1,136,863 |
Weighted average common shares outstanding | 7,524,830 | 5,807,488 |
Effect of dilutive stock options (in shares) | 106,389 | 300,599 |
Diluted shares | 7,631,219 | 6,108,087 |
Basic earnings per common share (in dollars per share) | $ 0.19 | $ 0.20 |
Diluted earnings per common share (in dollars per share) | $ 0.19 | $ 0.19 |
Earnings per share - Narrative
Earnings per share - Narrative (Details) - shares | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Earnings Per Share [Abstract] | ||
Antidilutive securities excluded from computation of earnings per share (in shares) | 14,604 | 18,100 |
Securities - Amortized Cost and
Securities - Amortized Cost and Fair Value of Available-for-sale Securities (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Debt securities available-for-sale: | ||
Amortized Cost | $ 138,240 | $ 131,046 |
Gross Unrealized Gains | 256 | 209 |
Gross Unrealized Losses | (1,363) | (1,833) |
Fair Value | 137,133 | 129,422 |
U.S. Government-sponsored enterprises (GSEs) [Member] | ||
Debt securities available-for-sale: | ||
Amortized Cost | 18,261 | 18,279 |
Gross Unrealized Gains | 5 | 8 |
Gross Unrealized Losses | (468) | (564) |
Fair Value | 17,798 | 17,723 |
Municipal securities [Member] | ||
Debt securities available-for-sale: | ||
Amortized Cost | 8,434 | 8,182 |
Gross Unrealized Gains | 23 | 16 |
Gross Unrealized Losses | (119) | (179) |
Fair Value | 8,338 | 8,019 |
Other debt securities [Member] | ||
Debt securities available-for-sale: | ||
Amortized Cost | 972 | |
Gross Unrealized Gains | 0 | |
Gross Unrealized Losses | (26) | |
Fair Value | 946 | |
Mortgage-backed securities [Member] | ||
Debt securities available-for-sale: | ||
Amortized Cost | 110,573 | 104,585 |
Gross Unrealized Gains | 228 | 185 |
Gross Unrealized Losses | (750) | (1,090) |
Fair Value | $ 110,051 | $ 103,680 |
Securities - Available-for-sale
Securities - Available-for-sale Securities by Contractual Maturity (Details) - USD ($) | Mar. 31, 2017 | Dec. 31, 2016 |
Amortized Cost | ||
Securities Available for Sale, Due in one year or less, Amortized Cost | $ 3,011,000 | |
Securities Available for Sale, Due from one year to five years, Amortized Cost | 12,391,000 | |
Securities Available for Sale, Due from five years to ten years, Amortized Cost | 8,543,000 | |
Securities Available for Sale, Due after ten years, Amortized Cost | 3,722,000 | |
Securities Available for Sale, Debt Securities, Amortized Cost | 27,667,000 | |
Securities Available for Sale, Mortgage-backed securities, Amortized Cost | 110,573,000 | |
Amortized Cost | 138,240,000 | $ 131,046,000 |
Fair Value | ||
Securities Available for Sale, Due in one year or less, Fair Value | 3,011,000 | |
Securities Available for Sale, Due from one year to five years, Fair Value | 12,048,000 | |
Securities Available for Sale, Due from five years to ten years, Fair Value | 8,341,000 | |
Securities Available for Sale, Due after ten years, Fair Value | 3,682,000 | |
Securities Available for Sale, Debt Securities, Fair Value | 27,082,000 | |
Securities Available for Sale, Mortgage-backed securities, Fair Value | 110,051,000 | |
Securities Available for Sale, Fair Value | $ 137,132,626 | $ 129,421,914 |
Securities - Available-for-sa28
Securities - Available-for-sale Securities in Continuous Loss Position (Details) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017USD ($)investment | Dec. 31, 2016USD ($) | |
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 Months, Fair Value | $ 83,266 | $ 88,133 |
Less than 12 Months, Gross Unrealized Losses | (992) | (1,433) |
12 Months or Greater, Fair Value | 12,383 | 8,948 |
12 Months or Greater, Gross Unrealized Losses | (371) | (400) |
Total, Fair Value | 95,649 | 97,081 |
Total, Gross Unrealized Losses | (1,363) | (1,833) |
U.S. Government-sponsored enterprises (GSEs) [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 Months, Fair Value | 14,379 | 14,702 |
Less than 12 Months, Gross Unrealized Losses | (468) | (564) |
12 Months or Greater, Fair Value | 0 | 0 |
12 Months or Greater, Gross Unrealized Losses | 0 | 0 |
Total, Fair Value | 14,379 | 14,702 |
Total, Gross Unrealized Losses | $ (468) | (564) |
Number of investments in unrealized loss positions | investment | 5 | |
Municipal securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 Months, Fair Value | $ 5,115 | 6,368 |
Less than 12 Months, Gross Unrealized Losses | (118) | (179) |
12 Months or Greater, Fair Value | 254 | 0 |
12 Months or Greater, Gross Unrealized Losses | (1) | 0 |
Total, Fair Value | 5,369 | 6,368 |
Total, Gross Unrealized Losses | $ (119) | (179) |
Number of investments in unrealized loss positions | investment | 13 | |
Other debt securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 Months, Fair Value | $ 945 | |
Less than 12 Months, Gross Unrealized Losses | (26) | |
12 Months or Greater, Fair Value | 0 | |
12 Months or Greater, Gross Unrealized Losses | 0 | |
Total, Fair Value | 945 | |
Total, Gross Unrealized Losses | $ (26) | |
Number of investments in unrealized loss positions | investment | 1 | |
Mortgage-backed securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 Months, Fair Value | $ 62,827 | 67,063 |
Less than 12 Months, Gross Unrealized Losses | (380) | (690) |
12 Months or Greater, Fair Value | 12,129 | 8,948 |
12 Months or Greater, Gross Unrealized Losses | (370) | (400) |
Total, Fair Value | 74,956 | 76,011 |
Total, Gross Unrealized Losses | $ (750) | $ (1,090) |
Number of investments in unrealized loss positions | investment | 57 |
Securities - Narrative (Details
Securities - Narrative (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2017 | |
Investments, Debt and Equity Securities [Abstract] | ||
Available-for-sale securities pledged as collateral | $ 81,068,000 | |
Proceeds from sale of available-for-sale securities | $ 5,072,500 | |
Gains from sale of securities | 83,263 | |
Losses from sale of securities | $ 0 |
Loans and Allowance for Loan 30
Loans and Allowance for Loan Losses - Loan Summary (Details) - USD ($) | Mar. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | $ 807,539,000 | $ 813,376,000 | |
Less: Allowance for loan losses | (5,152,000) | (5,105,000) | $ (4,354,000) |
Loans, net | 802,387,400 | 808,271,003 | |
Purchased Credit Impaired Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 26,601,000 | 27,193,000 | |
Less: Allowance for loan losses | 0 | 0 | |
Loans, net | 26,601,000 | 27,193,000 | |
All Other Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 780,938,000 | 786,183,000 | |
Less: Allowance for loan losses | (5,152,000) | (5,105,000) | |
Loans, net | 775,786,000 | 781,078,000 | |
Commercial Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 407,899,000 | 415,208,000 | |
Less: Allowance for loan losses | (2,329,000) | (2,369,000) | (1,906,000) |
Commercial Real Estate [Member] | Purchased Credit Impaired Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 14,683,000 | 14,943,000 | |
Commercial Real Estate [Member] | All Other Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 393,216,000 | 400,265,000 | |
Consumer Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 186,345,000 | 187,802,000 | |
Less: Allowance for loan losses | (1,466,000) | (1,382,000) | (1,015,000) |
Consumer Real Estate [Member] | Purchased Credit Impaired Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 8,874,000 | 9,004,000 | |
Consumer Real Estate [Member] | All Other Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 177,471,000 | 178,798,000 | |
Construction and Land Development [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 115,674,000 | 117,869,000 | |
Less: Allowance for loan losses | (706,000) | (717,000) | (627,000) |
Construction and Land Development [Member] | Purchased Credit Impaired Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 1,506,000 | 1,678,000 | |
Construction and Land Development [Member] | All Other Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 114,168,000 | 116,191,000 | |
Commercial and Industrial [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 90,707,000 | 85,022,000 | |
Less: Allowance for loan losses | (558,000) | (520,000) | (777,000) |
Commercial and Industrial [Member] | Purchased Credit Impaired Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 1,538,000 | 1,568,000 | |
Commercial and Industrial [Member] | All Other Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 89,169,000 | 83,454,000 | |
Consumer and Other [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 6,914,000 | 7,475,000 | |
Less: Allowance for loan losses | (93,000) | (117,000) | $ (29,000) |
Consumer and Other [Member] | Purchased Credit Impaired Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 0 | 0 | |
Consumer and Other [Member] | All Other Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | $ 6,914,000 | $ 7,475,000 |
Loans and Allowance for Loan 31
Loans and Allowance for Loan Losses - Performing and Impaired Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | $ 807,539 | $ 813,376 |
All Other Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 780,938 | 786,183 |
Purchased Credit Impaired Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 26,601 | 27,193 |
Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 407,899 | 415,208 |
Commercial Real Estate [Member] | All Other Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 393,216 | 400,265 |
Commercial Real Estate [Member] | Purchased Credit Impaired Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 14,683 | 14,943 |
Consumer Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 186,345 | 187,802 |
Consumer Real Estate [Member] | All Other Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 177,471 | 178,798 |
Consumer Real Estate [Member] | Purchased Credit Impaired Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 8,874 | 9,004 |
Construction and Land Development [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 115,674 | 117,869 |
Construction and Land Development [Member] | All Other Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 114,168 | 116,191 |
Construction and Land Development [Member] | Purchased Credit Impaired Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 1,506 | 1,678 |
Commercial and Industrial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 90,707 | 85,022 |
Commercial and Industrial [Member] | All Other Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 89,169 | 83,454 |
Commercial and Industrial [Member] | Purchased Credit Impaired Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 1,538 | 1,568 |
Consumer and Other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 6,914 | 7,475 |
Consumer and Other [Member] | All Other Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 6,914 | 7,475 |
Consumer and Other [Member] | Purchased Credit Impaired Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 0 | 0 |
Performing [Member] | All Other Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 778,864 | 784,168 |
Performing [Member] | Commercial Real Estate [Member] | All Other Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 392,978 | 400,146 |
Performing [Member] | Consumer Real Estate [Member] | All Other Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 176,478 | 177,977 |
Performing [Member] | Construction and Land Development [Member] | All Other Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 113,534 | 115,326 |
Performing [Member] | Commercial and Industrial [Member] | All Other Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 88,960 | 83,244 |
Performing [Member] | Consumer and Other [Member] | All Other Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 6,914 | 7,475 |
Impaired Loans [Member] | All Other Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 2,074 | 2,015 |
Impaired Loans [Member] | Commercial Real Estate [Member] | All Other Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 238 | 119 |
Impaired Loans [Member] | Consumer Real Estate [Member] | All Other Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 993 | 821 |
Impaired Loans [Member] | Construction and Land Development [Member] | All Other Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 634 | 865 |
Impaired Loans [Member] | Commercial and Industrial [Member] | All Other Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 209 | 210 |
Impaired Loans [Member] | Consumer and Other [Member] | All Other Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | $ 0 | $ 0 |
Loans and Allowance for Loan 32
Loans and Allowance for Loan Losses - ALL by Loan Classification (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Allowance for loan losses | $ 5,152 | $ 5,105 | $ 4,354 |
All Other Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Allowance for loan losses | 5,152 | 5,105 | |
Purchased Credit Impaired Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Allowance for loan losses | 0 | 0 | |
Performing [Member] | All Other Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Allowance for loan losses | 5,080 | 5,101 | |
Impaired Loans [Member] | All Other Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Allowance for loan losses | 72 | 4 | |
Commercial Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Allowance for loan losses | 2,329 | 2,369 | 1,906 |
Commercial Real Estate [Member] | Performing [Member] | All Other Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Allowance for loan losses | 2,329 | 2,369 | |
Commercial Real Estate [Member] | Impaired Loans [Member] | All Other Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Allowance for loan losses | 0 | 0 | |
Consumer Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Allowance for loan losses | 1,466 | 1,382 | 1,015 |
Consumer Real Estate [Member] | Performing [Member] | All Other Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Allowance for loan losses | 1,398 | 1,382 | |
Consumer Real Estate [Member] | Impaired Loans [Member] | All Other Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Allowance for loan losses | 68 | 0 | |
Construction and Land Development [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Allowance for loan losses | 706 | 717 | 627 |
Construction and Land Development [Member] | Performing [Member] | All Other Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Allowance for loan losses | 706 | 717 | |
Construction and Land Development [Member] | Impaired Loans [Member] | All Other Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Allowance for loan losses | 0 | 0 | |
Commercial and Industrial [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Allowance for loan losses | 558 | 520 | 777 |
Commercial and Industrial [Member] | Performing [Member] | All Other Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Allowance for loan losses | 554 | 516 | |
Commercial and Industrial [Member] | Impaired Loans [Member] | All Other Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Allowance for loan losses | 4 | 4 | |
Consumer and Other [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Allowance for loan losses | 93 | 117 | $ 29 |
Consumer and Other [Member] | Performing [Member] | All Other Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Allowance for loan losses | 93 | 117 | |
Consumer and Other [Member] | Impaired Loans [Member] | All Other Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Allowance for loan losses | $ 0 | $ 0 |
Loans and Allowance for Loan 33
Loans and Allowance for Loan Losses - ALL Roll Forward (Details) - USD ($) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | |
Allowance for Loan and Lease Losses [Roll Forward] | |||
Beginning balance | $ 5,105,000 | $ 4,354,000 | $ 4,354,000 |
Loans charged off | (25,000) | (306,000) | |
Recoveries of loans charged off | 60,000 | 269,000 | |
Provision (reallocation) charged to operating expense | 12,450 | 137,557 | 788,000 |
Ending balance | 5,152,000 | 5,105,000 | |
Commercial Real Estate [Member] | |||
Allowance for Loan and Lease Losses [Roll Forward] | |||
Beginning balance | 2,369,000 | 1,906,000 | 1,906,000 |
Loans charged off | 0 | 0 | |
Recoveries of loans charged off | 5,000 | 45,000 | |
Provision (reallocation) charged to operating expense | (45,000) | 418,000 | |
Ending balance | 2,329,000 | 2,369,000 | |
Consumer Real Estate [Member] | |||
Allowance for Loan and Lease Losses [Roll Forward] | |||
Beginning balance | 1,382,000 | 1,015,000 | 1,015,000 |
Loans charged off | 0 | (102,000) | |
Recoveries of loans charged off | 17,000 | 76,000 | |
Provision (reallocation) charged to operating expense | 67,000 | 393,000 | |
Ending balance | 1,466,000 | 1,382,000 | |
Construction and Land Development [Member] | |||
Allowance for Loan and Lease Losses [Roll Forward] | |||
Beginning balance | 717,000 | 627,000 | 627,000 |
Loans charged off | 0 | (14,000) | |
Recoveries of loans charged off | 5,000 | 22,000 | |
Provision (reallocation) charged to operating expense | (16,000) | 82,000 | |
Ending balance | 706,000 | 717,000 | |
Commercial and Industrial [Member] | |||
Allowance for Loan and Lease Losses [Roll Forward] | |||
Beginning balance | 520,000 | 777,000 | 777,000 |
Loans charged off | (3,000) | (35,000) | |
Recoveries of loans charged off | 16,000 | 58,000 | |
Provision (reallocation) charged to operating expense | 25,000 | (280,000) | |
Ending balance | 558,000 | 520,000 | |
Consumer and Other [Member] | |||
Allowance for Loan and Lease Losses [Roll Forward] | |||
Beginning balance | 117,000 | $ 29,000 | 29,000 |
Loans charged off | (22,000) | (155,000) | |
Recoveries of loans charged off | 17,000 | 68,000 | |
Provision (reallocation) charged to operating expense | (19,000) | 175,000 | |
Ending balance | $ 93,000 | $ 117,000 |
Loans and Allowance for Loan 34
Loans and Allowance for Loan Losses - Loan Risk Rating (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | $ 807,539 | $ 813,376 |
Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 407,899 | 415,208 |
Consumer Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 186,345 | 187,802 |
Construction and Land Development [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 115,674 | 117,869 |
Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 90,707 | 85,022 |
Consumer and Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 6,914 | 7,475 |
Non PCI Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 780,938 | 786,183 |
Non PCI Loans [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 777,194 | 782,438 |
Non PCI Loans [Member] | Watch [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 1,473 | 1,531 |
Non PCI Loans [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 332 | 341 |
Non PCI Loans [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 1,939 | 1,873 |
Non PCI Loans [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 0 | 0 |
Non PCI Loans [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 393,216 | 400,265 |
Non PCI Loans [Member] | Commercial Real Estate [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 392,338 | 399,505 |
Non PCI Loans [Member] | Commercial Real Estate [Member] | Watch [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 635 | 640 |
Non PCI Loans [Member] | Commercial Real Estate [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 0 | 0 |
Non PCI Loans [Member] | Commercial Real Estate [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 243 | 120 |
Non PCI Loans [Member] | Commercial Real Estate [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 0 | 0 |
Non PCI Loans [Member] | Consumer Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 177,471 | 178,798 |
Non PCI Loans [Member] | Consumer Real Estate [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 176,001 | 177,466 |
Non PCI Loans [Member] | Consumer Real Estate [Member] | Watch [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 514 | 550 |
Non PCI Loans [Member] | Consumer Real Estate [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 103 | 104 |
Non PCI Loans [Member] | Consumer Real Estate [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 853 | 678 |
Non PCI Loans [Member] | Consumer Real Estate [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 0 | 0 |
Non PCI Loans [Member] | Construction and Land Development [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 114,168 | 116,191 |
Non PCI Loans [Member] | Construction and Land Development [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 113,447 | 115,237 |
Non PCI Loans [Member] | Construction and Land Development [Member] | Watch [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 87 | 89 |
Non PCI Loans [Member] | Construction and Land Development [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 0 | 0 |
Non PCI Loans [Member] | Construction and Land Development [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 634 | 865 |
Non PCI Loans [Member] | Construction and Land Development [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 0 | 0 |
Non PCI Loans [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 89,169 | 83,454 |
Non PCI Loans [Member] | Commercial and Industrial [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 88,723 | 82,992 |
Non PCI Loans [Member] | Commercial and Industrial [Member] | Watch [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 237 | 252 |
Non PCI Loans [Member] | Commercial and Industrial [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 0 | 0 |
Non PCI Loans [Member] | Commercial and Industrial [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 209 | 210 |
Non PCI Loans [Member] | Commercial and Industrial [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 0 | 0 |
Non PCI Loans [Member] | Consumer and Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 6,914 | 7,475 |
Non PCI Loans [Member] | Consumer and Other [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 6,685 | 7,238 |
Non PCI Loans [Member] | Consumer and Other [Member] | Watch [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 0 | 0 |
Non PCI Loans [Member] | Consumer and Other [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 229 | 237 |
Non PCI Loans [Member] | Consumer and Other [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 0 | 0 |
Non PCI Loans [Member] | Consumer and Other [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 0 | 0 |
Purchased Credit Impaired Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 26,601 | 27,193 |
Purchased Credit Impaired Loans [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 20,590 | 21,173 |
Purchased Credit Impaired Loans [Member] | Watch [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 2,834 | 3,289 |
Purchased Credit Impaired Loans [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 183 | 12 |
Purchased Credit Impaired Loans [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 2,967 | 2,692 |
Purchased Credit Impaired Loans [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 27 | 27 |
Purchased Credit Impaired Loans [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 14,683 | 14,943 |
Purchased Credit Impaired Loans [Member] | Commercial Real Estate [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 11,617 | 11,836 |
Purchased Credit Impaired Loans [Member] | Commercial Real Estate [Member] | Watch [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 890 | 1,045 |
Purchased Credit Impaired Loans [Member] | Commercial Real Estate [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 0 | 0 |
Purchased Credit Impaired Loans [Member] | Commercial Real Estate [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 2,176 | 2,062 |
Purchased Credit Impaired Loans [Member] | Commercial Real Estate [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 0 | 0 |
Purchased Credit Impaired Loans [Member] | Consumer Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 8,874 | 9,004 |
Purchased Credit Impaired Loans [Member] | Consumer Real Estate [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 6,816 | 6,811 |
Purchased Credit Impaired Loans [Member] | Consumer Real Estate [Member] | Watch [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 1,280 | 1,577 |
Purchased Credit Impaired Loans [Member] | Consumer Real Estate [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 0 | 0 |
Purchased Credit Impaired Loans [Member] | Consumer Real Estate [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 778 | 616 |
Purchased Credit Impaired Loans [Member] | Consumer Real Estate [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 0 | 0 |
Purchased Credit Impaired Loans [Member] | Construction and Land Development [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 1,506 | 1,678 |
Purchased Credit Impaired Loans [Member] | Construction and Land Development [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 848 | 1,019 |
Purchased Credit Impaired Loans [Member] | Construction and Land Development [Member] | Watch [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 645 | 645 |
Purchased Credit Impaired Loans [Member] | Construction and Land Development [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 0 | 0 |
Purchased Credit Impaired Loans [Member] | Construction and Land Development [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 13 | 14 |
Purchased Credit Impaired Loans [Member] | Construction and Land Development [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 0 | 0 |
Purchased Credit Impaired Loans [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 1,538 | 1,568 |
Purchased Credit Impaired Loans [Member] | Commercial and Industrial [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 1,309 | 1,507 |
Purchased Credit Impaired Loans [Member] | Commercial and Industrial [Member] | Watch [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 19 | 22 |
Purchased Credit Impaired Loans [Member] | Commercial and Industrial [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 183 | 12 |
Purchased Credit Impaired Loans [Member] | Commercial and Industrial [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 0 | 0 |
Purchased Credit Impaired Loans [Member] | Commercial and Industrial [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 27 | 27 |
Purchased Credit Impaired Loans [Member] | Consumer and Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 0 | 0 |
Purchased Credit Impaired Loans [Member] | Consumer and Other [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 0 | 0 |
Purchased Credit Impaired Loans [Member] | Consumer and Other [Member] | Watch [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 0 | 0 |
Purchased Credit Impaired Loans [Member] | Consumer and Other [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 0 | 0 |
Purchased Credit Impaired Loans [Member] | Consumer and Other [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 0 | 0 |
Purchased Credit Impaired Loans [Member] | Consumer and Other [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | $ 0 | $ 0 |
Loans and Allowance for Loan 35
Loans and Allowance for Loan Losses - Past Due Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | $ 1,445 | $ 1,415 |
Total Past Due and NonAccrual | 3,261 | 4,168 |
Current Loans | 777,677 | 782,015 |
Total loans | 807,539 | 813,376 |
Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 124 | 0 |
Total Past Due and NonAccrual | 320 | 395 |
Current Loans | 392,896 | 399,870 |
Total loans | 407,899 | 415,208 |
Consumer Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 523 | 386 |
Total Past Due and NonAccrual | 1,703 | 1,780 |
Current Loans | 175,768 | 177,018 |
Total loans | 186,345 | 187,802 |
Construction and Land Development [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 634 | 865 |
Total Past Due and NonAccrual | 668 | 1,555 |
Current Loans | 113,500 | 114,636 |
Total loans | 115,674 | 117,869 |
Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 164 | 164 |
Total Past Due and NonAccrual | 550 | 421 |
Current Loans | 88,619 | 83,033 |
Total loans | 90,707 | 85,022 |
Consumer and Other [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 0 | 0 |
Total Past Due and NonAccrual | 20 | 17 |
Current Loans | 6,894 | 7,458 |
Total loans | 6,914 | 7,475 |
Purchased Credit Impaired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 26,601 | 27,193 |
Purchased Credit Impaired Loans [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 14,683 | 14,943 |
Purchased Credit Impaired Loans [Member] | Consumer Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 8,874 | 9,004 |
Purchased Credit Impaired Loans [Member] | Construction and Land Development [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 1,506 | 1,678 |
Purchased Credit Impaired Loans [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 1,538 | 1,568 |
Purchased Credit Impaired Loans [Member] | Consumer and Other [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 0 | 0 |
30-89 Days Past Due and Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded investment, past due | 1,789 | 2,054 |
30-89 Days Past Due and Accruing [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded investment, past due | 196 | 395 |
30-89 Days Past Due and Accruing [Member] | Consumer Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded investment, past due | 1,180 | 695 |
30-89 Days Past Due and Accruing [Member] | Construction and Land Development [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded investment, past due | 34 | 690 |
30-89 Days Past Due and Accruing [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded investment, past due | 359 | 257 |
30-89 Days Past Due and Accruing [Member] | Consumer and Other [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded investment, past due | 20 | 17 |
Past Due 90 Days or More and Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded investment, past due | 27 | 699 |
Past Due 90 Days or More and Accruing [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded investment, past due | 0 | 0 |
Past Due 90 Days or More and Accruing [Member] | Consumer Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded investment, past due | 0 | 699 |
Past Due 90 Days or More and Accruing [Member] | Construction and Land Development [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded investment, past due | 0 | 0 |
Past Due 90 Days or More and Accruing [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded investment, past due | 27 | 0 |
Past Due 90 Days or More and Accruing [Member] | Consumer and Other [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded investment, past due | $ 0 | $ 0 |
Loans and Allowance for Loan 36
Loans and Allowance for Loan Losses - Impaired Loan Portfolio (Details) - Non PCI Loans [Member] - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017 | Dec. 31, 2016 | |
Financing Receivable, Impaired [Line Items] | ||
Impaired loans without a valuation allowance, Recorded Investment | $ 1,285 | $ 1,851 |
Impaired loans without a valuation allowance, Unpaid Principal Balance | 1,303 | 1,879 |
Impaired loans without a valuation allowance, Average Recorded Investment | 1,570 | 4,659 |
Impaired loans without a valuation allowance, Interest Income Recognized | 10 | 180 |
Impaired loans with a valuation allowance, Recorded Investment | 789 | 164 |
Impaired loans with a valuation allowance, Unpaid Principal Balance | 887 | 243 |
Impaired loans with a valuation allowance, Related Allowance | 72 | 4 |
Impaired loans with a valuation allowance, Average Recorded Investment | 477 | 306 |
Impaired loans with a valuation allowance, Interest Income Recognized | 5 | 70 |
Total impaired loans, Recorded Investment | 2,074 | 2,015 |
Total impaired loans, Unpaid Principal Balance | 2,190 | 2,122 |
Total impaired loans, Average Recorded Investment | 2,047 | 4,965 |
Total impaired loans, Interest Income Recognized | 15 | 250 |
Commercial Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired loans without a valuation allowance, Recorded Investment | 238 | 119 |
Impaired loans without a valuation allowance, Unpaid Principal Balance | 241 | 119 |
Impaired loans without a valuation allowance, Average Recorded Investment | 179 | 1,311 |
Impaired loans without a valuation allowance, Interest Income Recognized | 3 | 73 |
Impaired loans with a valuation allowance, Recorded Investment | 0 | 0 |
Impaired loans with a valuation allowance, Unpaid Principal Balance | 0 | 0 |
Impaired loans with a valuation allowance, Related Allowance | 0 | 0 |
Impaired loans with a valuation allowance, Average Recorded Investment | 0 | 0 |
Impaired loans with a valuation allowance, Interest Income Recognized | 0 | 0 |
Consumer Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired loans without a valuation allowance, Recorded Investment | 368 | 821 |
Impaired loans without a valuation allowance, Unpaid Principal Balance | 383 | 849 |
Impaired loans without a valuation allowance, Average Recorded Investment | 595 | 2,334 |
Impaired loans without a valuation allowance, Interest Income Recognized | 6 | 100 |
Impaired loans with a valuation allowance, Recorded Investment | 625 | 0 |
Impaired loans with a valuation allowance, Unpaid Principal Balance | 644 | 0 |
Impaired loans with a valuation allowance, Related Allowance | 68 | 0 |
Impaired loans with a valuation allowance, Average Recorded Investment | 313 | 0 |
Impaired loans with a valuation allowance, Interest Income Recognized | 5 | 0 |
Construction and Land Development [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired loans without a valuation allowance, Recorded Investment | 634 | 865 |
Impaired loans without a valuation allowance, Unpaid Principal Balance | 634 | 865 |
Impaired loans without a valuation allowance, Average Recorded Investment | 750 | 967 |
Impaired loans without a valuation allowance, Interest Income Recognized | 0 | 3 |
Impaired loans with a valuation allowance, Recorded Investment | 0 | 0 |
Impaired loans with a valuation allowance, Unpaid Principal Balance | 0 | 0 |
Impaired loans with a valuation allowance, Related Allowance | 0 | 0 |
Impaired loans with a valuation allowance, Average Recorded Investment | 0 | 0 |
Impaired loans with a valuation allowance, Interest Income Recognized | 0 | 0 |
Commercial and Industrial [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired loans without a valuation allowance, Recorded Investment | 45 | 46 |
Impaired loans without a valuation allowance, Unpaid Principal Balance | 45 | 46 |
Impaired loans without a valuation allowance, Average Recorded Investment | 46 | 47 |
Impaired loans without a valuation allowance, Interest Income Recognized | 1 | 4 |
Impaired loans with a valuation allowance, Recorded Investment | 164 | 164 |
Impaired loans with a valuation allowance, Unpaid Principal Balance | 243 | 243 |
Impaired loans with a valuation allowance, Related Allowance | 4 | 4 |
Impaired loans with a valuation allowance, Average Recorded Investment | 164 | 306 |
Impaired loans with a valuation allowance, Interest Income Recognized | 0 | 70 |
Consumer and Other [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired loans without a valuation allowance, Recorded Investment | 0 | 0 |
Impaired loans without a valuation allowance, Unpaid Principal Balance | 0 | 0 |
Impaired loans without a valuation allowance, Average Recorded Investment | 0 | 0 |
Impaired loans without a valuation allowance, Interest Income Recognized | 0 | 0 |
Impaired loans with a valuation allowance, Recorded Investment | 0 | 0 |
Impaired loans with a valuation allowance, Unpaid Principal Balance | 0 | 0 |
Impaired loans with a valuation allowance, Related Allowance | 0 | 0 |
Impaired loans with a valuation allowance, Average Recorded Investment | 0 | 0 |
Impaired loans with a valuation allowance, Interest Income Recognized | $ 0 | $ 0 |
Loans and Allowance for Loan 37
Loans and Allowance for Loan Losses - Troubled Debt Restructuring (Details) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017USD ($)contract | Dec. 31, 2016USD ($)contract | |
Consumer Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | contract | 1 | |
Pre-Modification Outstanding Recorded Investment | $ 138 | |
Post-Modification Outstanding Recorded Investment | $ 138 | |
Construction and Land Development [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | contract | 1 | |
Pre-Modification Outstanding Recorded Investment | $ 278 | |
Post-Modification Outstanding Recorded Investment | $ 278 | |
Commercial and Industrial [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | contract | 1 | |
Pre-Modification Outstanding Recorded Investment | $ 164 | |
Post-Modification Outstanding Recorded Investment | $ 164 |
Loans and Allowance for Loan 38
Loans and Allowance for Loan Losses - Purchased Credit Impaired Loans (Details) - Purchased Credit Impaired Loans [Member] - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||
Total loans | $ 34,803 | $ 35,619 |
Less remaining purchase discount | (8,202) | (8,426) |
Total loans, net of purchase discount | 26,601 | 27,193 |
Less: Allowance for loan losses | 0 | 0 |
Carrying amount, net of allowance | 26,601 | 27,193 |
Commercial Real Estate [Member] | ||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||
Total loans | 18,105 | 18,473 |
Consumer Real Estate [Member] | ||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||
Total loans | 11,954 | 12,111 |
Construction and Land Development [Member] | ||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||
Total loans | 2,364 | 2,553 |
Commercial and Industrial [Member] | ||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||
Total loans | 2,380 | 2,482 |
Consumer and Other [Member] | ||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||
Total loans | $ 0 | $ 0 |
Loans and Allowance for Loan 39
Loans and Allowance for Loan Losses - Accretable Yield Roll Forward (Details) - Purchased Credit Impaired Loans [Member] - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | ||
Accretable yield, beginning of period | $ 8,950 | $ 10,216 |
Additions | 0 | 0 |
Accretion income | (697) | (629) |
Reclassification to accretable | 244 | (41) |
Other changes, net | (15) | 60 |
Accretable yield | $ 8,482 | $ 9,606 |
Loans and Allowance for Loan 40
Loans and Allowance for Loan Losses - Narrative (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Financing Receivable, Modifications [Line Items] | ||
Loans on nonaccrual | $ 1,445 | $ 1,415 |
Trouble Debt Restructuring [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans that met criteria for restructured | 552 | 608 |
Loans on nonaccrual | $ 251 | $ 442 |
Employee Benefit Plans - Stock
Employee Benefit Plans - Stock Option Activity (Details) - Officer and Employee Plans [Member] - $ / shares | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017 | Dec. 31, 2016 | |
Number | ||
Shares, Outstanding | 717,524 | 817,414 |
Shares, Exercised | (473,558) | (89,556) |
Shares, Forfeited | (18,524) | (10,334) |
Shares, Outstanding | 225,442 | 717,524 |
Weighted Average Exercisable Price | ||
Weighted Average Exercisable Price, Outstanding (in dollars per share) | $ 10.57 | $ 10.62 |
Weighted Average Exercisable Price Exercised (in dollars per share) | 9.61 | 8.98 |
Weighted Average Exercisable Price Forfeited (in dollars per share) | 20.27 | 28.49 |
Weighted Average Exercise Price, Outstanding (in dollars per share) | $ 11.78 | $ 10.57 |
Employee Benefit Plans - Option
Employee Benefit Plans - Options Outstanding by Exercise Price Range (Details) - Officer and Employee Plans [Member] - $ / shares | 3 Months Ended | ||
Mar. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |||
Exercise Prices (in dollars per share) | $ 11.78 | $ 10.57 | $ 10.62 |
Number Outstanding (in shares) | 225,442 | 717,524 | 817,414 |
Options Outstanding, Weighted Average Remaining Life | 5 years 1 month 18 days | ||
Options Outstanding, Weighted Average Exercise Price (in dollars per share) | $ 11.78 | ||
Options, Number Exercisable (in shares) | 186,801 | ||
Options Exercisable, Weighted Average Exercise Price (in dollars per share) | $ 11.11 | ||
6.20 [Member] | |||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |||
Exercise Prices (in dollars per share) | $ 6.20 | ||
Number Outstanding (in shares) | 750 | ||
Options Outstanding, Weighted Average Remaining Life | 4 years 18 days | ||
Options Outstanding, Weighted Average Exercise Price (in dollars per share) | $ 6.20 | ||
Options, Number Exercisable (in shares) | 750 | ||
Options Exercisable, Weighted Average Exercise Price (in dollars per share) | $ 6.20 | ||
6.60 [Member] | |||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |||
Exercise Prices (in dollars per share) | $ 6.60 | ||
Number Outstanding (in shares) | 41,500 | ||
Options Outstanding, Weighted Average Remaining Life | 5 years 18 days | ||
Options Outstanding, Weighted Average Exercise Price (in dollars per share) | $ 6.60 | ||
Options, Number Exercisable (in shares) | 41,500 | ||
Options Exercisable, Weighted Average Exercise Price (in dollars per share) | $ 6.60 | ||
6.80 [Member] | |||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |||
Exercise Prices (in dollars per share) | $ 6.80 | ||
Number Outstanding (in shares) | 19,375 | ||
Options Outstanding, Weighted Average Remaining Life | 3 years 10 months 24 days | ||
Options Outstanding, Weighted Average Exercise Price (in dollars per share) | $ 6.80 | ||
Options, Number Exercisable (in shares) | 19,375 | ||
Options Exercisable, Weighted Average Exercise Price (in dollars per share) | $ 6.80 | ||
9.48 [Member] | |||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |||
Exercise Prices (in dollars per share) | $ 9.48 | ||
Number Outstanding (in shares) | 29,375 | ||
Options Outstanding, Weighted Average Remaining Life | 5 years 10 months 24 days | ||
Options Outstanding, Weighted Average Exercise Price (in dollars per share) | $ 9.48 | ||
Options, Number Exercisable (in shares) | 29,375 | ||
Options Exercisable, Weighted Average Exercise Price (in dollars per share) | $ 9.48 | ||
9.52 [Member] | |||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |||
Exercise Prices (in dollars per share) | $ 9.52 | ||
Number Outstanding (in shares) | 525 | ||
Options Outstanding, Weighted Average Remaining Life | 3 months 18 days | ||
Options Outstanding, Weighted Average Exercise Price (in dollars per share) | $ 9.52 | ||
Options, Number Exercisable (in shares) | 525 | ||
Options Exercisable, Weighted Average Exercise Price (in dollars per share) | $ 9.52 | ||
9.60 [Member] | |||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |||
Exercise Prices (in dollars per share) | $ 9.60 | ||
Number Outstanding (in shares) | 37,625 | ||
Options Outstanding, Weighted Average Remaining Life | 6 years 10 months 24 days | ||
Options Outstanding, Weighted Average Exercise Price (in dollars per share) | $ 9.60 | ||
Options, Number Exercisable (in shares) | 37,625 | ||
Options Exercisable, Weighted Average Exercise Price (in dollars per share) | $ 9.60 | ||
10.48 [Member] | |||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |||
Exercise Prices (in dollars per share) | $ 10.48 | ||
Number Outstanding (in shares) | 20,513 | ||
Options Outstanding, Weighted Average Remaining Life | 4 months 18 days | ||
Options Outstanding, Weighted Average Exercise Price (in dollars per share) | $ 10.48 | ||
Options, Number Exercisable (in shares) | 20,513 | ||
Options Exercisable, Weighted Average Exercise Price (in dollars per share) | $ 10.48 | ||
11.67 [Member] | |||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |||
Exercise Prices (in dollars per share) | $ 11.67 | ||
Number Outstanding (in shares) | 3,250 | ||
Options Outstanding, Weighted Average Remaining Life | 3 years 9 months 18 days | ||
Options Outstanding, Weighted Average Exercise Price (in dollars per share) | $ 11.67 | ||
Options, Number Exercisable (in shares) | 3,250 | ||
Options Exercisable, Weighted Average Exercise Price (in dollars per share) | $ 11.67 | ||
14.40 [Member] | |||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |||
Exercise Prices (in dollars per share) | $ 14.40 | ||
Number Outstanding (in shares) | 15,180 | ||
Options Outstanding, Weighted Average Remaining Life | 1 year 10 months 24 days | ||
Options Outstanding, Weighted Average Exercise Price (in dollars per share) | $ 14.40 | ||
Options, Number Exercisable (in shares) | 15,180 | ||
Options Exercisable, Weighted Average Exercise Price (in dollars per share) | $ 14.40 | ||
15.05 [Member] | |||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |||
Exercise Prices (in dollars per share) | $ 15.05 | ||
Number Outstanding (in shares) | 42,745 | ||
Options Outstanding, Weighted Average Remaining Life | 8 years 5 months 18 days | ||
Options Outstanding, Weighted Average Exercise Price (in dollars per share) | $ 15.05 | ||
Options, Number Exercisable (in shares) | 4,104 | ||
Options Exercisable, Weighted Average Exercise Price (in dollars per share) | $ 15.05 | ||
31.96 [Member] | |||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |||
Exercise Prices (in dollars per share) | $ 31.96 | ||
Number Outstanding (in shares) | 13,916 | ||
Options Outstanding, Weighted Average Remaining Life | 10 months 24 days | ||
Options Outstanding, Weighted Average Exercise Price (in dollars per share) | $ 31.96 | ||
Options, Number Exercisable (in shares) | 13,916 | ||
Options Exercisable, Weighted Average Exercise Price (in dollars per share) | $ 31.96 | ||
60.80 [Member] | |||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |||
Exercise Prices (in dollars per share) | $ 60.80 | ||
Number Outstanding (in shares) | 688 | ||
Options Outstanding, Weighted Average Remaining Life | 1 month 18 days | ||
Options Outstanding, Weighted Average Exercise Price (in dollars per share) | $ 60.80 | ||
Options, Number Exercisable (in shares) | 688 | ||
Options Exercisable, Weighted Average Exercise Price (in dollars per share) | $ 60.80 |
Employee Benefit Plans - Non-ve
Employee Benefit Plans - Non-vested Options (Details) - $ / shares | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017 | Dec. 31, 2016 | |
Number | ||
Number of Shares, Nonvested, beginning balance | 47,970 | |
Number of Shares, Granted | 0 | 0 |
Number of Shares, Vested | 0 | |
Number of Shares, Forfeited/expired | (9,329) | |
Number of Shares, Nonvested, ending balance | 38,641 | 47,970 |
Weighted Average Grant-Date Fair Value | ||
Weighted Average Grant-Date Fair Value, Nonvested, beginning balance (in dollars per share) | $ 12.31 | |
Weighted Average Grant-Date Fair Value, Granted (in dollars per share) | 0 | |
Weighted Average Grant-Date Fair Value, Vested (in dollars per share) | 0 | |
Weighted Average Grant-Date Fair Value, Forfeited/expired (in dollars per share) | 12.31 | |
Weighted Average Grant-Date Fair Value, Nonvested, ending balance (in dollars per share) | $ 12.31 | $ 12.31 |
Employee Benefit Plans - Narrat
Employee Benefit Plans - Narrative (Details) - USD ($) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Share-based compensation expense | $ 26,812 | $ 33,635 | |
Options vested in period, fair value | 0 | 19,425 | |
Deferred tax expense from stock options exercised | 0 | 0 | |
Options, exercises in period, intrinsic value | 5,024,759 | ||
Options, outstanding, intrinsic value | 2,266,259 | ||
Options, exercisable, intrinsic value | 2,034,800 | ||
Proceeds from stock options exercised | $ 4,260,734 | ||
Number of shares granted | 0 | 0 | |
Deferred Salary Reduction Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined contribution plan, cost recognized | $ 102,716 | $ 90,856 | |
Director [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Direct stock grant expense | 31,791 | ||
Stock Options [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Unrecognized compensation costs | $ 340,542 | ||
Unrecognized compensation costs, period for recognition | 1 year 4 months 24 days | ||
Legacy Cornerstone Bancshares, Inc. Long-Term Incentive Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Exercise price, not less than (as a percent) | 100.00% | ||
Smart Bank Stock Option Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Number of shares authorized | 525,000 | ||
Exercise price, not less than (as a percent) | 100.00% | ||
Legacy Smart Financial Inc 2010 Incentive Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Number of shares authorized | 525,000 | ||
Exercise price, not less than (as a percent) | 100.00% | ||
Stock Incentive Plan Two Thousand Fifteen [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Exercise price, not less than (as a percent) | 110.00% | ||
Number Outstanding (in shares) | 2,000,000 | ||
Term of options, no more than | 10 years | ||
Voting power held by participant (as a percent) | 10.00% | ||
Term of option to participants with more than ten percent voting power | 5 years | ||
Percentage Of incentive stock options vesting on second anniversary | 30.00% | ||
Percentage Of incentive stock options vesting on third anniversary | 30.00% | ||
Percentage Of incentive stock options vesting on fourth anniversary | 40.00% | ||
Percentage Of nonqualified stock options vesting on first anniversary | 50.00% | ||
Percentage Of nonqualified stock options vesting on second anniversary | 50.00% | ||
401 (k) Matching Range One [Member] | Deferred Salary Reduction Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Employer matching contribution, percent of employees gross pay | 3.00% | ||
Employer matching contribution, percent of match | 100.00% | ||
401 (k) Matching Range Two [Member] | Deferred Salary Reduction Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Employer matching contribution, percent of employees gross pay | 2.00% | ||
Employer matching contribution, percent of match | 50.00% |
Commitments and Contingent Li45
Commitments and Contingent Liabilities (Details) $ in Millions | 3 Months Ended |
Mar. 31, 2017USD ($) | |
Line of Credit Facility [Line Items] | |
Commitments to extend credit | $ 133.4 |
Standby letters of credit | $ 2.9 |
Standby Letters of Credit [Member] | |
Line of Credit Facility [Line Items] | |
Standby letter of credit term, or less | 2 years |
Fair Value Disclosures - Assets
Fair Value Disclosures - Assets and Liabilities Measured on Recurring Basis (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total securities available for sale | $ 137,133 | $ 129,422 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total securities available for sale | 0 | 0 |
Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total securities available for sale | 137,133 | 129,422 |
Significant Other Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total securities available for sale | 0 | 0 |
U.S. Government-sponsored enterprises (GSEs) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total securities available for sale | 17,798 | 17,723 |
U.S. Government-sponsored enterprises (GSEs) [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total securities available for sale | 0 | 0 |
U.S. Government-sponsored enterprises (GSEs) [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total securities available for sale | 17,798 | 17,723 |
U.S. Government-sponsored enterprises (GSEs) [Member] | Significant Other Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total securities available for sale | 0 | 0 |
Mortgage-backed securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total securities available for sale | 110,051 | 103,680 |
Mortgage-backed securities [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total securities available for sale | 0 | 0 |
Mortgage-backed securities [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total securities available for sale | 110,051 | 103,680 |
Mortgage-backed securities [Member] | Significant Other Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total securities available for sale | 0 | 0 |
Other debt securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total securities available for sale | 946 | |
Other debt securities [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total securities available for sale | 946 | |
Municipal securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total securities available for sale | 8,338 | 8,019 |
Municipal securities [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total securities available for sale | 0 | 0 |
Municipal securities [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total securities available for sale | 8,338 | 8,019 |
Municipal securities [Member] | Significant Other Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total securities available for sale | $ 0 | $ 0 |
Fair Value Disclosures - Asse47
Fair Value Disclosures - Assets and Liabilities Measured on Nonrecurring Basis (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Impaired loans | $ 717 | $ 239 |
Foreclosed assets | 2,371 | 2,386 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Impaired loans | 0 | 0 |
Foreclosed assets | 0 | 0 |
Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Impaired loans | 0 | 0 |
Foreclosed assets | 0 | 0 |
Significant Other Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Impaired loans | 717 | 239 |
Foreclosed assets | $ 2,371 | $ 2,386 |
Fair Value Disclosures - Signif
Fair Value Disclosures - Significant Unobservable Inputs Used to Value Level 3 Assets (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017 | Dec. 31, 2016 | |
Impaired loans [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Assets measured at fair value on non-recurring basis | $ 717 | $ 239 |
Valuation Technique | Appraisal | Cash Flow |
Significant Other Unobservable Input | Discounted Cash Flow / Appraisal Discounts | Discounted Cash Flow / Appraisal Discounts |
Weighted Average of Input (as a percent) | 9.10% | 2.40% |
Foreclosed assets [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Assets measured at fair value on non-recurring basis | $ 2,371 | $ 2,386 |
Valuation Technique | Appraisal | Appraisal |
Significant Other Unobservable Input | Appraisal Discounts | Appraisal Discounts |
Weighted Average of Input (as a percent) | 22.50% | 12.20% |
Fair Value Disclosures - Carryi
Fair Value Disclosures - Carrying Amount and Estimated Fair Value of Financial Instruments (Details) - USD ($) | Mar. 31, 2017 | Dec. 31, 2016 | Mar. 31, 2016 | Dec. 31, 2015 |
Assets: | ||||
Cash and cash equivalents, Carrying Amount | $ 55,547,721 | $ 68,748,308 | $ 68,932,872 | $ 79,964,633 |
Securities available for sale, Carrying Amount | 137,133,000 | 129,422,000 | ||
Restricted investments, Carrying Amount | 5,627,950 | 5,627,950 | ||
Loans, net, Carrying Amount | 802,387,400 | 808,271,003 | ||
Cash and cash equivalents, Estimated Fair Value | 55,548,000 | 68,748,000 | ||
Securities available for sale, Estimated Fair Value | 137,133,000 | 129,422,000 | ||
Loans, net, Estimated Fair Value | 795,077,000 | 803,057,000 | ||
Liabilities: | ||||
Noninterest-bearing demand deposits, Carrying Amount | 160,672,567 | 153,482,650 | ||
Interest-bearing demand deposits, Carrying Amount | 167,433,130 | 162,702,457 | ||
Money Market and Savings deposits, Carrying Amount | 274,993,000 | 274,605,000 | ||
Time deposits, Carrying Amount | 286,600,177 | 316,275,340 | ||
Securities sold under agreements to repurchase, Carrying Amount | 23,153,397 | 26,621,984 | ||
Federal Home Loan Bank advances and other borrowings, Carrying Amount | 60,000 | 18,505,390 | ||
Noninterest-bearing demand deposits, Estimated Fair Value | 160,673,000 | 153,483,000 | ||
Interest-bearing demand deposits, Estimated Fair Value | 167,433,000 | 162,702,000 | ||
Money Market and Savings deposits, Estimated Fair Value | 274,993,000 | 274,605,000 | ||
Time deposits, Estimated Fair Value | 286,414,000 | 316,734,000 | ||
Securities sold under agreements to repurchase, Estimated Fair Value | 23,153,000 | 26,622,000 | ||
Federal Home Loan Bank advances and other borrowings, Estimated Fair Value | $ 60,000 | $ 18,505,000 |
Small Business Lending Fund - N
Small Business Lending Fund - Narrative (Details) - USD ($) | Mar. 06, 2017 | Jan. 30, 2017 | Feb. 04, 2016 | Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2011 |
Class of Stock [Line Items] | ||||||||
Preferred stock, shares issued | 0 | 12,000 | ||||||
Preferred stock, dividend rate (as a percent) | 9.00% | 1.00% | ||||||
Preferred stock dividends | $ 195,000 | $ 212,000 | $ 1,022,000 | $ 120,000 | ||||
Common stock, par value (in dollars per share) | $ 1 | $ 1 | ||||||
Proceeds from issuance of common stock | $ 37,516,178 | 77,707 | ||||||
Payments for redemption of preferred stock | $ 12,000,000 | |||||||
Payment of dividends on preferred stock | $ 195,000 | $ 195,000 | $ 212,000 | |||||
SBLF Program [Member] | ||||||||
Class of Stock [Line Items] | ||||||||
Preferred stock, shares issued | 12,000 | |||||||
Share price (in dollars per share) | $ 1,000 | |||||||
Preferred stock, redemption price (in dollars per share) | $ 1,000 | |||||||
Common Stock [Member] | ||||||||
Class of Stock [Line Items] | ||||||||
Issuance of common stock in public offering (in shares) | 2,010,084 | |||||||
Common stock, par value (in dollars per share) | $ 1 | |||||||
Proceeds from issuance of common stock | $ 33,200,000 |