Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2016 | Aug. 05, 2016 | |
Document Information [Line Items] | ||
Entity Registrant Name | MERCANTILE BANK CORPORATION | |
Entity Central Index Key | 1,042,729 | |
Trading Symbol | mbwm | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Well-known Seasoned Issuer | No | |
Entity Common Stock, Shares Outstanding (in shares) | 16,279,351 | |
Document Type | 10-Q | |
Document Period End Date | Jun. 30, 2016 | |
Document Fiscal Year Focus | 2,016 | |
Document Fiscal Period Focus | Q2 | |
Amendment Flag | false |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Jun. 30, 2016 | Dec. 31, 2015 |
ASSETS | ||
Cash and due from banks | $ 60,087,000 | $ 42,829,000 |
Interest-earning deposits | 46,896,000 | 46,463,000 |
Federal funds sold | 0 | 599,000 |
Total cash and cash equivalents | 106,983,000 | 89,891,000 |
Securities available for sale | 323,452,000 | 346,992,000 |
Federal Home Loan Bank stock | 8,026,000 | 7,567,000 |
Loans | 2,379,940,000 | 2,277,727,000 |
Allowance for loan losses | (17,110,000) | (15,681,000) |
Loans, net | 2,362,830,000 | 2,262,046,000 |
Premises and equipment, net | 45,558,000 | 46,862,000 |
Bank owned life insurance | 66,537,000 | 58,971,000 |
Goodwill | 49,473,000 | 49,473,000 |
Core deposit intangible | 11,228,000 | 12,631,000 |
Other assets | 25,849,000 | 29,123,000 |
Total assets | 2,999,936,000 | 2,903,556,000 |
LIABILITIES AND SHAREHOLDERS' EQUITY | ||
Noninterest-bearing | 733,573,000 | 674,568,000 |
Interest-bearing | 1,546,145,000 | 1,600,814,000 |
Total deposits | 2,279,718,000 | 2,275,382,000 |
Securities sold under agreements to repurchase | 136,690,000 | 154,771,000 |
Long-term Federal Home Loan Bank Advances | 178,000,000 | 68,000,000 |
Junior Subordinated Debenture Owed to Unconsolidated Subsidiary Trust | 44,494,000 | 55,154,000 |
Accrued interest and other liabilities | 16,457,000 | 16,445,000 |
Total liabilities | 2,655,359,000 | 2,569,752,000 |
Shareholders' equity | ||
Preferred stock, no par value; 1,000,000 shares authorized; none issued | 0 | 0 |
Common stock, no par value; 40,000,000 shares authorized; 16,271,061 shares outstanding at June 30, 2016 and 16,358,711 shares outstanding at December 31, 2015 | 303,336,000 | 304,819,000 |
Retained earnings | 38,553,000 | 27,722,000 |
Accumulated other comprehensive income | 2,688,000 | 1,263,000 |
Total shareholders’ equity | 344,577,000 | 333,804,000 |
Total liabilities and shareholders’ equity | $ 2,999,936,000 | $ 2,903,556,000 |
Condensed Consolidated Balance3
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Jun. 30, 2016 | Dec. 31, 2015 |
Preferred stock, par value (in dollars per share) | $ 0 | $ 0 |
Preferred stock, shares authorized (in shares) | 1,000,000 | 1,000,000 |
Preferred stock, issued (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0 | $ 0 |
Common stock, shares authorized (in shares) | 40,000,000 | 40,000,000 |
Common stock, shares outstanding (in shares) | 16,271,061 | 16,358,711 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Income (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Interest income | ||||
Loans, including fees | $ 26,887,000 | $ 25,587,000 | $ 53,666,000 | $ 50,898,000 |
Securities, taxable | 2,657,000 | 1,489,000 | 4,173,000 | 3,174,000 |
Securities, tax-exempt | 540,000 | 523,000 | 1,077,000 | 1,060,000 |
Other interest-earning assets | 63,000 | 64,000 | 120,000 | 120,000 |
Total interest income | 30,147,000 | 27,663,000 | 59,036,000 | 55,252,000 |
Interest expense | ||||
Deposits | 1,819,000 | 1,775,000 | 3,685,000 | 3,675,000 |
Short-term borrowings | 47,000 | 39,000 | 91,000 | 76,000 |
Federal Home Loan Bank advances | 575,000 | 151,000 | 925,000 | 303,000 |
Subordinated debentures and other borrowings | 606,000 | 657,000 | 1,353,000 | 1,308,000 |
Total interest expense | 3,047,000 | 2,622,000 | 6,054,000 | 5,362,000 |
Net interest income | 27,100,000 | 25,041,000 | 52,982,000 | 49,890,000 |
Provision for loan losses | 1,100,000 | (600,000) | 1,700,000 | (1,000,000) |
Net interest income after provision for loan losses | 26,000,000 | 25,641,000 | 51,282,000 | 50,890,000 |
Noninterest income | ||||
Services charges on deposit and sweep accounts | 1,090,000 | 812,000 | 2,038,000 | 1,582,000 |
Credit and debit card income | 1,080,000 | 1,079,000 | 2,095,000 | 2,291,000 |
Mortgage banking activities | 744,000 | 999,000 | 1,342,000 | 1,687,000 |
Earnings on bank owned life insurance | 298,000 | 262,000 | 584,000 | 548,000 |
Gain on trust preferred securities repurchase | 0 | 0 | 2,970,000 | 0 |
Other income | 852,000 | 869,000 | 2,121,000 | 1,607,000 |
Total noninterest income | 4,064,000 | 4,021,000 | 11,150,000 | 7,715,000 |
Noninterest expense | ||||
Salaries and benefits | 10,801,000 | 11,074,000 | 21,796,000 | 21,158,000 |
Occupancy | 1,480,000 | 1,479,000 | 3,084,000 | 3,052,000 |
Furniture and equipment | 522,000 | 596,000 | 1,047,000 | 1,220,000 |
Data processing costs | 1,970,000 | 1,872,000 | 3,962,000 | 3,642,000 |
FDIC insurance costs | 365,000 | 483,000 | 757,000 | 960,000 |
Other expense | 4,055,000 | 4,846,000 | 8,415,000 | 9,559,000 |
Total noninterest expenses | 19,193,000 | 20,350,000 | 39,061,000 | 39,591,000 |
Income before federal income tax expense | 10,871,000 | 9,312,000 | 23,371,000 | 19,014,000 |
Federal income tax expense | 3,437,000 | 2,754,000 | 7,388,000 | 5,810,000 |
Net income | $ 7,434,000 | $ 6,558,000 | $ 15,983,000 | $ 13,204,000 |
Basic earnings per share (in dollars per share) | $ 0.46 | $ 0.39 | $ 0.98 | $ 0.78 |
Diluted earnings per share (in dollars per share) | 0.46 | 0.39 | 0.98 | 0.78 |
Cash dividends per common share (in dollars per share) | $ 0.16 | $ 0.14 | $ 0.32 | $ 0.28 |
Average basic shares outstanding (in shares) | 16,240,966 | 16,767,393 | 16,266,311 | 16,852,002 |
Average diluted shares outstanding (in shares) | 16,268,839 | 16,803,846 | 16,293,250 | 16,887,702 |
Condensed Consolidated Stateme5
Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Net income | $ 7,434,000 | $ 6,558,000 | $ 15,983,000 | $ 13,204,000 |
Other comprehensive income (loss): | ||||
Unrealized holding gains (losses) on securities available for sale | 299,000 | (2,722,000) | 2,218,000 | 165,000 |
Fair value of interest rate swap | (4,000) | 71,000 | (25,000) | (126,000) |
295,000 | (2,651,000) | 2,193,000 | 39,000 | |
Tax effect of unrealized holding gains (losses) on securities available for sale | (105,000) | 981,000 | (777,000) | (30,000) |
Tax effect of fair value of interest rate swap | 1,000 | (25,000) | 9,000 | 44,000 |
(104,000) | 956,000 | (768,000) | 14,000 | |
Other comprehensive income (loss), net of tax | 191,000 | (1,695,000) | 1,425,000 | 53,000 |
Comprehensive income | $ 7,625,000 | $ 4,863,000 | $ 17,408,000 | $ 13,257,000 |
Condensed Consolidated Stateme6
Condensed Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - USD ($) | Preferred Stock [Member] | Common Stock [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Begining Balances at Dec. 31, 2014 | $ 0 | $ 317,904,000 | $ 10,218,000 | $ 16,000 | $ 328,138,000 |
Employee stock purchase plan | 23,000 | 23,000 | |||
Dividend reinvestment plan | 283,000 | 283,000 | |||
Stock option exercises | 275,000 | 275,000 | |||
Stock grants to directors for retainer fees | 402,000 | 402,000 | |||
Stock-based compensation expense | 359 | 359 | |||
Share repurchase program | (9,110,000) | (9,110,000) | |||
Cash dividends | (4,656,000) | (4,656,000) | |||
Net income | 13,204,000 | 13,204,000 | |||
Change in net unrealized holding gain on securities available for sale, net of tax effect | 135,000 | 135,000 | |||
Change in fair value of interest rate swap, net of tax effect | (82,000) | (82,000) | |||
Ending Balance at Jun. 30, 2015 | 0 | 310,136,000 | 18,766,000 | 69,000 | 328,971,000 |
Begining Balances at Dec. 31, 2015 | 0 | 304,819,000 | 27,722,000 | 1,263,000 | 333,804,000 |
Employee stock purchase plan | 18,000 | 18,000 | |||
Dividend reinvestment plan | 909,000 | 909,000 | |||
Stock option exercises | 379,000 | 379,000 | |||
Stock grants to directors for retainer fees | 327,000 | 327,000 | |||
Stock-based compensation expense | 616 | 616 | |||
Share repurchase program | (3,732,000) | (3,732,000) | |||
Cash dividends | (5,152,000) | (5,152,000) | |||
Net income | 15,983,000 | 15,983,000 | |||
Change in net unrealized holding gain on securities available for sale, net of tax effect | 1,441,000 | 1,441,000 | |||
Change in fair value of interest rate swap, net of tax effect | (16,000) | (16,000) | |||
Ending Balance at Jun. 30, 2016 | $ 0 | $ 303,336,000 | $ 38,553,000 | $ 2,688,000 | $ 344,577,000 |
Condensed Consolidated Stateme7
Condensed Consolidated Statements of Changes in Shareholders' Equity (Unaudited) (Parentheticals) - $ / shares | 6 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | |
Common Stock [Member] | ||
Employee stock purchase plan, shares (in shares) | 773 | 1,110 |
Dividend reinvestment plan, shares (in shares) | 38,195 | 13,788 |
Stock option exercises, shares (in shares) | 31,249 | 26,375 |
Stock grants to directors for retainer fees (in shares) | 13,000 | 20,094 |
Share repurchase program, shares (in shares) | 167,878 | 463,060 |
Retained Earnings [Member] | ||
Cash dividends per common share (in dollars per share) | $ 0.32 | $ 0.28 |
Cash dividends per common share (in dollars per share) | $ 0.32 | $ 0.28 |
Condensed Consolidated Stateme8
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 6 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | |
Cash flows from operating activities | ||
Net income | $ 15,983,000 | $ 13,204,000 |
Adjustments to reconcile net income to net cash from operating activities | ||
Depreciation and amortization | 4,275,000 | 5,588,000 |
Accretion of acquired loans | (2,251,000) | (2,910,000) |
Provision for loan losses | 1,700,000 | (1,000,000) |
Stock-based compensation expense | 616,000 | 359,000 |
Stock grants to directors for retainer fee | 327,000 | 402,000 |
Proceeds from sales of mortgage loans held for sale | 46,441,000 | 57,735,000 |
Origination of mortgage loans held for sale | (46,715,000) | (56,853,000) |
Net gain from sales of mortgage loans held for sale | (1,290,000) | (1,706,000) |
Gain on trust preferred securities repurchase | (2,970,000) | 0 |
Net gain from sales and valuation write-down of foreclosed assets | (322,000) | (71,000) |
Net gain from sales and valuation write-down of former bank premises | (10,000) | 0 |
Net (gain) loss from sales of fixed assets | 171,000 | (10,000) |
Net (gain) loss from sales of available for sale securities | 1,000 | (5,000) |
Earnings on bank owned life insurance | (584,000) | (548,000) |
Net change in: | ||
Accrued interest receivable | 568,000 | 212,000 |
Other assets | (120,000) | (188,000) |
Accrued interest and other liabilities | (13,000) | 896,000 |
Net cash from operating activities | 15,807,000 | 15,105,000 |
Cash flows from investing activities | ||
Loan originations and payments, net | (99,276,000) | (82,399,000) |
Purchases of securities available for sale | (60,873,000) | (4,868,000) |
Proceeds from maturities, calls and repayments of securities available for sale | 86,872,000 | 62,135,000 |
Proceeds from sales of securities available for sale | 264,000 | 665,000 |
Proceeds from sales of foreclosed assets | 1,371,000 | 1,131,000 |
Proceeds from sales of former bank premises | 46,000 | 0 |
Proceeds from FHLB stock redemption | 0 | 6,132,000 |
Purchases of FHLB stock | (459,000) | 0 |
Purchases of bank owned life insurance | (7,000,000) | 0 |
Net purchases of premises and equipment | (307,000) | (589,000) |
Net cash for investing activities | (79,362,000) | (17,793,000) |
Cash flows from financing activities | ||
Net decrease in time deposits | (17,540,000) | (84,451,000) |
Net increase in all other deposits | 21,876,000 | 87,505,000 |
Net decrease in securities sold under agreements to repurchase | (18,081,000) | (15,488,000) |
Maturities of Federal Home Loan Bank advances | 0 | (6,000,000) |
Proceeds from Federal Home Loan Bank advances | 110,000,000 | 0 |
Proceeds from stock option exercises | 379,000 | 275,000 |
Employee stock purchase plan | 18,000 | 23,000 |
Dividend reinvestment plan | 909,000 | 283,000 |
Repurchase of common stock shares | (3,732,000) | (9,110,000) |
Repurchase of trust preferred securities | (8,030,000) | 0 |
Payment of cash dividends to common shareholders | (5,152,000) | (4,656,000) |
Net cash from (for) financing activities | 80,647,000 | (31,619,000) |
Net change in cash and cash equivalents | 17,092,000 | (34,307,000) |
Cash and cash equivalents at beginning of period | 89,891,000 | 172,738,000 |
Cash and cash equivalents at end of period | 106,983,000 | 138,431,000 |
Supplemental disclosures of cash flows information | ||
Interest | 6,016,000 | 5,564,000 |
Federal income tax | 6,700,000 | 5,700,000 |
Noncash financing and investing activities: | ||
Transfers from loans to foreclosed assets | 236,000 | 1,098,000 |
Transfers from bank premises to other real estate owned | $ 371,000 | $ 0 |
Note 1 - Significant Accounting
Note 1 - Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 1. SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation We have five separate business trusts that were formed to issue trust preferred securities. Subordinated debentures were issued to the trusts in return for the proceeds raised from the issuance of the trust preferred securities. The trusts are not consolidated, but instead we report the subordinated debentures issued to the trusts as a liability. Earnings Per Share Approximately 150,000 unvested restricted shares were included in determining both basic and diluted earnings per share for the three and six months ended June 30, 2016. In addition, stock options for approximately 92,000 shares of common stock were included in determining diluted earnings per share for the three and six months ended June 30, 2016. Stock options for approximately 7,000 shares of common stock were antidilutive and not included in determining diluted earnings per share for the three and six months ended June 30, 2016. Approximately 100,000 unvested restricted shares were included in determining both basic and diluted earnings per share for the three and six months ended June 30, 2015. In addition, stock options for approximately 108,000 shares of common stock were included in determining diluted earnings per share for the three and six months ended June 30, 2015. Stock options for approximately 91,000 shares of common stock were antidilutive and not included in determining diluted earnings per share for the three and six months ended June 30, 2015. Securities Interest income includes amortization of purchase premiums and accretion of discounts. Premiums and discounts on securities are amortized or accreted on the level-yield method without anticipating prepayments, except for mortgage-backed securities where prepayments are anticipated. Gains and losses on sales are recorded on the trade date and determined using the specific identification method. Declines in the fair value of debt securities below their amortized cost that are other than temporary (“OTTI”) are reflected in earnings or other comprehensive income, as appropriate. For those debt securities whose fair value is less than their amortized cost, we consider our intent to sell the security, whether it is more likely than not that we will be required to sell the security before recovery and whether we expect to recover the entire amortized cost of the security based on our assessment of the issuer’s financial condition. In analyzing an issuer’s financial condition, we consider whether the securities are issued by the federal government or its agencies, and whether downgrades by bond rating agencies have occurred. If either of the criteria regarding intent or requirement to sell is met, the entire difference between amortized cost and fair value is recognized as impairment through earnings. For debt securities that do not meet the aforementioned criteria, the amount of impairment is split into two components as follows: 1) OTTI related to credit loss, which must be recognized in the income statement, and 2) OTTI related to other factors, such as liquidity conditions in the market or changes in market interest rates, which is recognized in other comprehensive income. The credit loss is defined as the difference between the present value of the cash flows expected to be collected and the amortized cost. Loans Interest income on commercial loans and mortgage loans is discontinued at the time the loan is 90 days delinquent unless the loan is well-secured and in process of collection. Consumer and credit card loans are typically charged off no later than when they are 120 days past due. Past due status is based on the contractual terms of the loan. In all cases, loans are placed on nonaccrual or charged off at an earlier date if collection of principal and interest is considered doubtful. All interest accrued but not received for loans placed on nonaccrual is reversed against interest income. Interest received on such loans is accounted for on the cash-basis or cost-recovery method, until qualifying for return to accrual. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured. Loans Held for Sale Mortgage loans held for sale are generally sold with servicing rights retained. Gains and losses on sales of mortgage loans are based on the difference between the selling price and the carrying value of the related loan sold, which is reduced by the cost allocated to the servicing right. We generally lock in the sale price to the purchaser of the loan at the same time we make a rate commitment to the borrower. These mortgage banking activities are not designated as hedges and are carried at fair value. The net gain or loss on mortgage banking derivatives is included in the gain on sale of loans. Mortgage loans serviced for others totaled approximately $597 million as of June 30, 2016. Mortgage Banking Activities Servicing fee income is recorded for fees earned for serving mortgage loans. The fees are based on a contractual percentage of the outstanding principal or a fixed amount per loan and are recorded as income when earned. Amortization of mortgage loan servicing rights is netted against mortgage loan servicing income and recorded in mortgage banking activities in the income statement. Troubled Debt Restructurings In accordance with current accounting guidance, loans modified as troubled debt restructurings are, by definition, considered to be impaired loans. Impairment for these loans is measured on a loan-by-loan basis similar to other impaired loans as described below under “Allowance for Loan Losses.” Certain loans modified as troubled debt restructurings may have been previously measured for impairment under a general allowance methodology (i.e., pooling), thus at the time the loan is modified as a troubled debt restructuring the allowance will be impacted by the difference between the results of these two measurement methodologies. Loans modified as troubled debt restructurings that subsequently default are factored into the determination of the allowance in the same manner as other defaulted loans. Allowance for Loan Losses A loan is considered to be impaired when, based on current information and events, it is probable we will be unable to collect the scheduled payments of principal and interest when due according to the contractual terms of the loan agreement. Factors considered in determining impairment include payment status, collateral value and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. We determine the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of delay, the reasons for delay, the borrower’s prior payment record and the amount of the shortfall in relation to the principal and interest owed. Impairment is measured on a loan-by-loan basis for commercial and construction loans by either the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s obtainable market price or the fair value of collateral if the loan is collateral dependent. Derivatives Changes in the fair value of derivatives that are designated, for accounting purposes, as a hedge of the variability of cash flows to be received on various loans and are effective are reported in other comprehensive income. They are later reclassified into earnings in the same periods during which the hedged transaction affects earnings and are included in the line item in which the hedged cash flows are recorded. If hedge accounting does not apply, changes in the fair value of derivatives are recognized immediately in current earnings as interest income or expense. If designated as a hedge, we formally document the relationship between the derivatives and hedged items, as well as the risk-management objective and the strategy for undertaking hedge transactions. This documentation includes linking cash flow hedges to specific assets and liabilities on the balance sheet. If designated as a hedge, we also formally assess, both at the hedge’s inception and on an ongoing basis, whether the derivative instruments that are used are highly effective in offsetting changes in cash flows of the hedged items. Ineffective hedge gains and losses are recognized immediately in current earnings as noninterest income or expense. We discontinue hedge accounting when we determine the derivative is no longer effective in offsetting changes in the cash flows of the hedged item, the derivative is settled or terminates, or treatment of the derivative as a hedge is no longer appropriate or intended. Goodwill and Core Deposit Intangible The core deposit intangible that arose from the Firstbank Corporation acquisition was initially measured at fair value and is being amortized into noninterest expense over a ten-year period using the sum-of-the-years-digits methodology. Adoption of New Accounting Standards: Revenue from Contracts with Customers Revenue from Contracts with Customers – Deferral of Effective Date In January 2016, the FASB issued ASU 2016-1, Recognition and Measurement of Financial Assets and Financial Liabilities In February 2016, the FASB issued ASU 2016-02, Leases In March 2016, the FASB issued ASU 2016-09, Compensation – Stock Compensation: Improvements to Employee Share-Based Payment Accounting In June 2016, the FASB issued ASU No. 2016-13, Measurement of Credit Losses on Financial Instruments |
Note 2 - Securities
Note 2 - Securities | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | 2 . SECURITIES The amortized cost and fair value of available for sale securities and the related pre-tax gross unrealized gains and losses recognized in accumulated other comprehensive income are as follows: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value June 30, 2016 U.S. Government agency debt obligations $ 132,085,000 $ 895,000 $ (38,000 ) $ 132,942,000 Mortgage-backed securities 56,616,000 979,000 (50,000 ) 57,545,000 Municipal general obligation bonds 119,878,000 2,602,000 (94,000 ) 122,386,000 Municipal revenue bonds 8,498,000 95,000 0 8,593,000 Other investments 1,962,000 24,000 0 1,986,000 $ 319,039,000 $ 4,595,000 $ (182,000 ) $ 323,452,000 December 31, 2015 U.S. Government agency debt obligations $ 146,660,000 $ 1,932,000 $ (1,552,000 ) $ 147,040,000 Mortgage-backed securities 66,670,000 708,000 (304,000 ) 67,074,000 Municipal general obligation bonds 120,679,000 1,549,000 (205,000 ) 122,023,000 Municipal revenue bonds 8,841,000 76,000 (3,000 ) 8,914,000 Other investments 1,946,000 0 (5,000 ) 1,941,000 $ 344,796,000 $ 4,265,000 $ (2,069,000 ) $ 346,992,000 Securities with unrealized losses at June 30, 2016 and December 31, 2015, aggregated by investment category and length of time that individual securities have been in a continuous loss position, are as follows: Less than 12 Months 12 Months or More Total Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Vaule Unrealized Loss June 30, 2016 U.S. Government agency debt obligations $ 3,991,000 $ 9,000 $ 2,958,000 $ 29,000 $ 6,949,000 $ 38,000 Mortgage-backed securities 3,212,000 16,000 9,899,000 34,000 13,111,000 50,000 Municipal general obligation bonds 850,000 5,000 9,042,000 89,000 9,892,000 94,000 Municipal revenue bonds 557,000 0 0 0 557,000 0 Other investments 0 0 0 0 0 0 $ 8,610,000 $ 30,000 $ 21,899,000 $ 152,000 $ 30,509,000 $ 182,000 Less than 12 Months 12 Months or More Total Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss December 31, 2015 U.S. Government agency debt obligations $ 0 $ 0 $ 76,496,000 $ 1,552,000 $ 76,496,000 $ 1,552,000 Mortgage-backed securities 18,025,000 69,000 34,660,000 235,000 52,685,000 304,000 Municipal general obligation bonds 1,981,000 4,000 30,134,000 201,000 32,115,000 205,000 Municipal revenue bonds 0 0 1,134,000 3,000 1,134,000 3,000 Other investments 1,446,000 5,000 0 0 1,446,000 5,000 $ 21,452,000 $ 78,000 $ 142,424,000 $ 1,991,000 $ 163,876,000 $ 2,069,000 We evaluate securities for other-than-temporary impairment at least on a quarterly basis. Consideration is given to the length of time and the extent to which the fair value has been less than cost, the financial condition and near-term prospects of the issuer, and the intent and ability we have to retain our investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value. For those debt securities whose fair value is less than their amortized cost basis, we also consider our intent to sell the security, whether it is more likely than not that we will be required to sell the security before recovery and if we do not expect to recover the entire amortized cost basis of the security. In analyzing an issuer’s financial condition, we may consider whether the securities are issued by the federal government or its agencies, whether downgrades by bond rating agencies have occurred and the results of reviews of the issuer’s financial condition. At June 30, 2016, 93 debt securities with fair values totaling $30.5 million have unrealized losses aggregating $0.2 million. After we considered whether the securities were issued by the federal government or its agencies and whether downgrades by bond rating agencies had occurred, we determined that unrealized losses were due to changing interest rate environments. As we do not intend to sell our debt securities before recovery of their cost basis and we believe it is more likely than not that we will not be required to sell our debt securities before recovery of the cost basis, no unrealized losses are deemed to be other-than-temporary. The amortized cost and fair value of debt securities at June 30, 2016, by maturity, are shown in the following table. The contractual maturity is utilized for U.S. Government agency debt obligations and municipal bonds. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Securities not due at a single maturity date, primarily mortgage-backed securities, are shown separately. Weighted average yields are also reflected, with yields for municipal securities shown at their tax equivalent yield. Weighted Average Yield Amortized Cost Fair Value Due in 2016 1.44 % $ 32,582,000 $ 32,601,000 Due in 2017 through 2021 1.83 119,275,000 120,413,000 Due in 2022 through 2026 3.10 55,510,000 56,994,000 Due in 2027 and beyond 3.27 53,094,000 53,913,000 Mortgage-backed securities 1.76 56,616,000 57,545,000 Other investments 3.06 1,962,000 1,986,000 2.24 % $ 319,039,000 $ 323,452,000 Securities issued by the State of Michigan and all its political subdivisions had a combined amortized cost of $107 million and $106 million at June 30, 2016 and December 31, 2015, respectively, with estimated market values of $109 million and $107 million, respectively. Securities issued by all other states and their political subdivisions had a combined amortized cost of $21.5 million and $24.0 million at June 30, 2016 and December 31, 2015, respectively, with estimated market values of $21.8 million and $24.1 million, respectively. Total securities of any other specific issuer, other than the U.S. Government and its agencies and the State of Michigan and all its political subdivisions, did not exceed 10% of shareholders’ equity. The carrying value of U.S. Government agency debt obligations and mortgage-backed securities that are pledged to secure repurchase agreements was $137 million and $155 million at June 30, 2016, and December 31, 2015, respectively. Investments in Federal Home Loan Bank stock are restricted and may only be resold or redeemed by the issuer. |
Note 3 - Loans and Allowance fo
Note 3 - Loans and Allowance for Loan Losses | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | 3. LOANS AND ALLOWANCE FOR LOAN LOSSES Loans originated for investment are stated at their principal amount outstanding adjusted for partial charge-offs, the allowance, and net deferred loan fees and costs. Interest income on loans is accrued over the term of the loans primarily using the simple interest method based on the principal balance outstanding. Interest is not accrued on loans where collectability is uncertain. Accrued interest is presented separately in the consolidated balance sheet. Loan origination fees and certain direct costs incurred to extend credit are deferred and amortized over the term of the loan or loan commitment period as an adjustment to the related loan yield. Acquired loans are those purchased in the Firstbank merger. These loans were recorded at estimated fair value at the merger date with no carryover of the related allowance. The acquired loans were segregated between those considered to be performing (“acquired non-impaired loans”) and those with evidence of credit deterioration (“acquired impaired loans”). Acquired loans are considered impaired if there is evidence of credit deterioration and if it is probable, at acquisition, all contractually required payments will not be collected. Acquired loans restructured after acquisition are not considered or reported as troubled debt restructurings if the loans evidenced credit deterioration as of the merger date and are accounted for in pools. The fair value estimates for acquired loans are based on expected prepayments and the amount and timing of discounted expected principal, interest and other cash flows. Credit discounts representing the principal losses expected over the life of the loan are also a component of the initial fair value. In determining the merger date fair value of acquired impaired loans, and in subsequent accounting, we have generally aggregated acquired commercial and consumer loans into pools of loans with common risk characteristics. The difference between the fair value of an acquired non-impaired loan and contractual amounts due at the merger date is accreted into income over the estimated life of the loan. Contractually required payments represent the total undiscounted amount of all uncollected principal and interest payments. Acquired non-impaired loans are placed on nonaccrual status and reported as nonperforming or past due using the same criteria applied to the originated loan portfolio. The excess of an acquired impaired loan’s undiscounted contractually required payments over the amount of its undiscounted cash flows expected to be collected is referred to as the non-accretable difference. The non-accretable difference, which is neither accreted into income nor recorded on the consolidated balance sheet, reflects estimated future credit losses and uncollectible contractual interest expected to be incurred over the life of the acquired impaired loan. The excess cash flows expected to be collected over the carrying amount of the acquired loan is referred to as the accretable yield. This amount is accreted into interest income over the remaining life of the acquired loans or pools using the level yield method. The accretable yield is affected by changes in interest rate indices for variable rate loans, changes in prepayment speed assumptions and changes in expected principal and interest payments over the estimated lives of the acquired impaired loans. We evaluate quarterly the remaining contractual required payments receivable and estimate cash flows expected to be collected over the lives of the impaired loans. Contractually required payments receivable may increase or decrease for a variety of reasons, for example, when the contractual terms of the loan agreement are modified, when interest rates on variable rate loans change, or when principal and/or interest payments are received. Cash flows expected to be collected on acquired impaired loans are estimated by incorporating several key assumptions similar to the initial estimate of fair value. These key assumptions include probability of default, loss given default, and the amount of actual prepayments after the merger date. Prepayments affect the estimated lives of loans and could change the amount of interest income, and possibly principal, expected to be collected. In re-forecasting future estimated cash flows, credit loss expectations are adjusted as necessary. The adjustments are based, in part, on actual loss severities recognized for each loan type, as well as changes in the probability of default. For periods in which estimated cash flows are not re-forecasted, the prior reporting period’s estimated cash flows are adjusted to reflect the actual cash received and credit events that transpired during the current reporting period. Increases in expected cash flows of acquired impaired loans subsequent to the merger date are recognized prospectively through adjustments of the yield on the loans or pools over their remaining lives, while decreases in expected cash flows are recognized as impairment through a provision for loan losses and an increase in the allowance. Our total loans at June 30, 2016 were $2.38 billion compared to $2.28 billion at December 31, 2015, an increase of $102 million, or 4.5%. The components of our loan portfolio disaggregated by class of loan within the loan portfolio segments at June 30, 2016 and December 31, 2015, and the percentage change in loans from the end of 2015 to the end of the second quarter of 2016, are as follows: Percent June 30, 2016 December 31, 2015 Increase Balance % Balance % (Decrease) Originated loans Commercial: Commercial and industrial $ 653,135,000 36.3 % $ 577,872,000 35.7 % 13.0 % Vacant land, land development, and residential construction 30,232,000 1.7 30,138,000 1.9 0.3 Real estate – owner occupied 338,909,000 18.8 330,798,000 20.5 2.5 Real estate – non-owner occupied 603,236,000 33.5 520,754,000 32.2 15.8 Real estate – multi-family and residential rental 39,233,000 2.2 33,954,000 2.1 15.5 Total commercial 1,664,745,000 92.5 1,493,516,000 92.4 11.5 Retail: Home equity and other 69,396,000 3.9 67,816,000 4.2 2.3 1-4 family mortgages 65,813,000 3.6 55,255,000 3.4 19.1 Total retail 135,209,000 7.5 123,071,000 7.6 9.9 Total originated loans $ 1,799,954,000 100.0 % $ 1,616,587,000 100.0 % 11.3 % Percent June 30, 2016 December 31, 2015 Increase Balance % Balance % (Decrease) Acquired loans Commercial: Commercial and industrial $ 97,001,000 16.7 % $ 118,431,000 17.9 % (18.1 )% Vacant land, land development, and residential construction 10,297,000 1.8 14,982,000 2.3 (31.3 ) Real estate – owner occupied 99,889,000 17.2 115,121,000 17.4 (13.2 ) Real estate – non-owner occupied 113,694,000 19.6 123,597,000 18.7 (8.0 ) Real estate – multi-family and residential rental 74,129,000 12.8 81,049,000 12.3 (8.5 ) Total commercial 395,010,000 68.1 453,180,000 68.6 (12.8 ) Retail: Home equity and other 61,671,000 10.6 72,830,000 11.0 (15.3 ) 1-4 family mortgages 123,305,000 21.3 135,130,000 20.4 (8.7 ) Total retail 184,976,000 31.9 207,960,000 31.4 (11.1 ) Total acquired loans $ 579,986,000 100.0 % $ 661,140,000 100.0 % (12.3% ) Percent June 30, 2016 December 31, 2015 Increase Balance % Balance % (Decrease) Total loans Commercial: Commercial and industrial $ 750,136,000 31.5 % $ 696,303,000 30.6 % 7.7 % Vacant land, land development, and residential construction 40,529,000 1.7 45,120,000 2.0 (10.2 ) Real estate – owner occupied 438,798,000 18.4 445,919,000 19.6 (1.6 ) Real estate – non-owner occupied 716,930,000 30.1 644,351,000 28.3 11.3 Real estate – multi-family and residential rental 113,362,000 4.8 115,003,000 5.0 (1.4 ) Total commercial 2,059,755,000 86.5 1,946,696,000 85.5 5.8 Retail: Home equity and other 131,067,000 5.5 140,646,000 6.2 (6.8 ) 1-4 family mortgages 189,118,000 8.0 190,385,000 8.3 (0.7 ) Total retail 320,185,000 13.5 331,031,000 14.5 (3.3 ) Total loans $ 2,379,940,000 100.0 % $ 2,277,727,000 100.0 % 4.5 % The total contractually required payments due on and carrying value of acquired impaired loans were $19.2 million and $8.8 million, respectively, as of June 30, 2016. The total contractually required payments due on and carrying value of acquired impaired loans were $24.6 million and $13.1 million, respectively, as of December 31, 2015. Changes in the accretable yield for acquired impaired loans for the three and six months ended June 30, 2016 and June 30, 2015 were as follows: Balance at March 31, 2016 $ 6,319,000 Additions 0 Accretion income (674,000 ) Net reclassification from nonaccretable to accretable 1,193,000 Reductions (1) (236,000 ) Balance at June 30, 2016 $ 6,602,000 Balance at December 31, 2015 $ 5,193,000 Additions 21,000 Accretion income (1,354,000 ) Net reclassification from nonaccretable to accretable 3,565,000 Reductions (1) (823,000 ) Balance at June 30, 2016 $ 6,602,000 Balance at March 31, 2015 $ 5,241,000 Additions 0 Accretion income (681,000 ) Net reclassification from nonaccretable to accretable 708,000 Reductions (1) (153,000 ) Balance at June 30, 2015 $ 5,115,000 Balance at December 31, 2014 $ 4,998,000 Additions 0 Accretion income (1,327,000 ) Net reclassification from nonaccretable to accretable 1,649,000 Reductions (1) (205,000 ) Balance at June 30, 2015 $ 5,115,000 (1) Reductions primarily reflect the result of exit events, including loan payoffs and charge-offs. Nonperforming originated loans as of June 30, 2016 and December 31, 2015 were as follows: June 30, 2016 December 31, 2015 Loans past due 90 days or more still accruing interest $ 0 $ 0 Nonaccrual loans 2,042,000 1,954,000 Total nonperforming originated loans $ 2,042,000 $ 1,954,000 Nonperforming acquired loans as of June 30, 2016 and December 31, 2015 were as follows: June 30, 2016 December 31, 2015 Loans past due 90 days or more still accruing interest $ 0 $ 5,000 Nonaccrual loans 3,126,000 3,485,000 Total nonperforming acquired loans $ 3,126,000 $ 3,490,000 The recorded principal balance of nonperforming loans was as follows: June 30, 2016 December 31, 2015 Commercial: Commercial and industrial $ 819,000 $ 458,000 Vacant land, land development, and residential construction 125,000 155,000 Real estate – owner occupied 1,465,000 1,797,000 Real estate – non-owner occupied 51,000 79,000 Real estate – multi-family and residential rental 114,000 157,000 Total commercial 2,574,000 2,646,000 Retail: Home equity and other 616,000 771,000 1-4 family mortgages 1,978,000 2,027,000 Total retail 2,594,000 2,798,000 Total nonperforming loans $ 5,168,000 $ 5,444,000 Acquired impaired loans are not reported as nonperforming loans based on acquired impaired loan accounting. Acquired non-impaired loans are placed on nonaccrual status and reported as nonperforming or past due using the same criteria applied to the originated loan portfolio. An age analysis of past due loans is as follows as of June 30, 2016: 30 – 59 Days Past Due 60 – 89 Days Past Due Greater Than 89 Days Past Due Total Past Due Current Total Loans Recorded Balance > 89 Days and Accruing Originated loans Commercial: Commercial and industrial $ 1,000 $ 0 $ 0 $ 1,000 $ 653,134,000 $ 653,135,000 $ 0 Vacant land, land development, and residential construction 0 0 0 0 30,232,000 30,232,000 0 Real estate – owner occupied 0 197,000 0 197,000 338,712,000 338,909,000 0 Real estate – non-owner occupied 0 0 0 0 603,236,000 603,236,000 0 Real estate – multi-family and residential rental 0 0 0 0 39,233,000 39,233,000 0 Total commercial 1,000 197,000 0 198,000 1,664,547,000 1,664,745,000 0 Retail: Home equity and other 129,000 21,000 11,000 161,000 69,235,000 69,396,000 0 1-4 family mortgages 97,000 0 403,000 500,000 65,313,000 65,813,000 0 Total retail 226,000 21,000 414,000 661,000 134,548,000 135,209,000 0 Total past due loans $ 227,000 $ 218,000 $ 414,000 $ 859,000 $ 1,799,095,000 $ 1,799,954,000 $ 0 30 – 59 Days Past Due 60 – 89 Days Past Due Greater Than 89 Days Past Due Total Past Due Current Total Loans Recorded Balance > 89 Days and Accruing Acquired loans Commercial: Commercial and industrial $ 14,000 $ 0 $ 350,000 $ 364,000 $ 96,637,000 $ 97,001,000 $ 0 Vacant land, land development, and residential construction 29,000 0 0 29,000 10,268,000 10,297,000 0 Real estate – owner occupied 243,000 50,000 398,000 691,000 99,198,000 99,889,000 0 Real estate – non-owner occupied 159,000 0 419,000 578,000 113,116,000 113,694,000 0 Real estate – multi-family and residential rental 164,000 42,000 80,000 286,000 73,843,000 74,129,000 0 Total commercial 609,000 92,000 1,247,000 1,948,000 393,062,000 395,010,000 0 Retail: Home equity and other 568,000 43,000 11,000 622,000 61,049,000 61,671,000 0 1-4 family mortgages 1,188,000 261,000 344,000 1,793,000 121,512,000 123,305,000 0 Total retail 1,756,000 304,000 355,000 2,415,000 182,561,000 184,976,000 0 Total past due loans $ 2,365,000 $ 396,000 $ 1,602,000 $ 4,363,000 $ 575,623,000 $ 579,986,000 $ 0 An age analysis of past due loans is as follows as of December 31, 2015: 30 – 59 Days Past Due 60 – 89 Days Past Due Greater Than 89 Days Past Due Total Past Due Current Total Loans Recorded Balance > 89 Days and Accruing Originated loans Commercial: Commercial and industrial $ 0 $ 0 $ 0 $ 0 $ 577,872,000 $ 577,872,000 $ 0 Vacant land, land development, and residential construction 0 0 0 0 30,138,000 30,138,000 0 Real estate – owner occupied 432,000 0 9,000 441,000 330,357,000 330,798,000 0 Real estate – non-owner occupied 0 0 0 0 520,754,000 520,754,000 0 Real estate – multi-family and residential rental 0 0 0 0 33,954,000 33,954,000 0 Total commercial 432,000 0 9,000 441,000 1,493,075,000 1,493,516,000 0 Retail: Home equity and other 186,000 108,000 0 294,000 67,522,000 67,816,000 0 1-4 family mortgages 107,000 95,000 356,000 558,000 54,697,000 55,255,000 0 Total retail 293,000 203,000 356,000 852,000 122,219,000 123,071,000 0 Total past due loans $ 725,000 $ 203,000 $ 365,000 $ 1,293,000 $ 1,615,294,000 $ 1,616,587,000 $ 0 30 – 59 Days Past Due 60 – 89 Days Past Due Greater Than 89 Days Past Due Total Past Due Current Total Loans Recorded Balance > 89 Days and Accruing Acquired Loans Commercial: Commercial and industrial $ 0 $ 5,000 $ 541,000 $ 546,000 $ 117,885,000 $ 118,431,000 $ 0 Vacant land, land development, and residential construction 27,000 0 0 27,000 14,955,000 14,982,000 0 Real estate – owner occupied 323,000 425,000 1,142,000 1,890,000 113,231,000 115,121,000 0 Real estate – non-owner occupied 53,000 703,000 79,000 835,000 122,762,000 123,597,000 0 Real estate – multi-family and residential rental 223,000 54,000 0 277,000 80,772,000 81,049,000 0 Total commercial 626,000 1,187,000 1,762,000 3,575,000 449,605,000 453,180,000 0 Retail: Home equity and other 395,000 44,000 28,000 467,000 72,363,000 72,830,000 5,000 1-4 family mortgages 960,000 354,000 416,000 1,730,000 133,400,000 135,130,000 0 Total retail 1,355,000 398,000 444,000 2,197,000 205,763,000 207,960,000 5,000 Total past due loans $ 1,981,000 $ 1,585,000 $ 2,206,000 $ 5,772,000 $ 655,368,000 $ 661,140,000 $ 5,000 (Continued) MERCANTILE BANK CORPORATION NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) 3. LOANS AND ALLOWANCE FOR LOAN LOSSES Impaired originated loans as of June 30, 2016, and average originated impaired loans for the three and six months ended June 30, 2016, were as follows: Unpaid Contractual Principal Balance Recorded Principal Balance Related Allowance Second Quarter Average Recorded Principal Balance Year-To-Date Average Recorded Principal Balance With no related allowance recorded Commercial: Commercial and industrial $ 2,147,000 $ 2,146,000 $ 2,017,000 $ 1,845,000 Vacant land, land development and residential construction 0 0 0 0 Real estate – owner occupied 348,000 251,000 160,000 275,000 Real estate – non-owner occupied 5,623,000 5,623,000 5,641,000 5,660,000 Real estate – multi-family and residential rental 0 0 0 0 Total commercial 8,118,000 8,020,000 7,818,000 7,780,000 Retail: Home equity and other 129,000 120,000 65,000 45,000 1-4 family mortgages 1,324,000 668,000 621,000 633,000 Total retail 1,453,000 788,000 686,000 678,000 Total with no related allowance recorded $ 9,571,000 $ 8,808,000 $ 8,504,000 $ 8,458,000 Unpaid Contractual Principal Balance Recorded Principal Balance Related Allowance Second Quarter Average Recorded Principal Balance Year-To-Date Average Recorded Principal Balance With an allowance recorded Commercial: Commercial and industrial $ 249,000 $ 199,000 $ 47,000 $ 217,000 $ 246,000 Vacant land, land development and residential construction 2,002,000 1,625,000 72,000 1,633,000 1,640,000 Real estate – owner occupied 5,930,000 1,378,000 235,000 1,339,000 1,331,000 Real estate – non-owner occupied 4,704,000 4,704,000 180,000 4,729,000 4,766,000 Real estate – multi-family and residential rental 979,000 979,000 293,000 993,000 1,004,000 Total commercial 13,864,000 8,885,000 827,000 8,911,000 8,987,000 Retail: Home equity and other 550,000 512,000 137,000 491,000 515,000 1-4 family mortgages 205,000 163,000 72,000 145,000 139,000 Total retail 755,000 675,000 209,000 636,000 654,000 Total with an allowance recorded $ 14,619,000 $ 9,560,000 $ 1,036,000 $ 9,547,000 $ 9,641,000 Total impaired loans: Commercial $ 21,982,000 $ 16,905,000 $ 827,000 $ 16,729,000 $ 16,767,000 Retail 2,208,000 1,463,000 209,000 1,322,000 1,332,000 Total impaired loans $ 24,190,000 $ 18,368,000 $ 1,036,000 $ 18,051,000 $ 18,099,000 Impaired acquired loans as of June 30, 2016, and average impaired acquired loans for the three and six months ended June 30, 2016, were as follows: Unpaid Contractual Principal Balance Recorded Principal Balance Related Allowance Second Quarter Average Recorded Principal Balance Year-To-Date Average Recorded Principal Balance With no related allowance recorded Commercial: Commercial and industrial $ 1,694,000 $ 1,681,000 $ 1,556,000 $ 1,535,000 Vacant land, land development and residential construction 0 0 0 0 Real estate – owner occupied 1,314,000 1,300,000 1,485,000 1,640,000 Real estate – non-owner occupied 811,000 811,000 792,000 821,000 Real estate – multi-family and residential rental 295,000 295,000 289,000 327,000 Total commercial 4,114,000 4,087,000 4,122,000 4,323,000 Retail: Home equity and other 367,000 365,000 321,000 317,000 1-4 family mortgages 1,305,000 1,305,000 1,290,000 1,376,000 Total retail 1,672,000 1,670,000 1,611,000 1,693,000 Total with no related allowance recorded $ 5,786,000 $ 5,757,000 $ 5,733,000 $ 6,016,000 Unpaid Contractual Principal Balance Recorded Principal Balance Related Allowance Second Quarter Average Recorded Principal Balance Year-To-Date Average Recorded Principal Balance With an allowance recorded Commercial: Commercial and industrial $ 356,000 $ 356,000 $ 101,000 $ 367,000 $ 370,000 Vacant land, land development and residential construction 0 0 0 0 0 Real estate – owner occupied 49,000 49,000 4,000 50,000 50,000 Real estate – non-owner occupied 0 0 0 0 0 Real estate – multi-family and residential rental 20,000 20,000 1,000 20,000 21,000 Total commercial 425,000 425,000 106,000 437,000 441,000 Retail: Home equity and other 0 0 0 0 0 1-4 family mortgages 174,000 174,000 5,000 87,000 116,000 Total retail 174,000 174,000 5,000 87,000 116,000 Total with an allowance recorded $ 599,000 $ 599,000 $ 111,000 $ 524,000 $ 557,000 Total impaired loans: Commercial $ 4,539,000 $ 4,512,000 $ 106,000 $ 4,559,000 $ 4,764,000 Retail 1,846,000 1,844,000 5,000 1,698,000 1,809,000 Total impaired loans $ 6,385,000 $ 6,356,000 $ 111,000 $ 6,257,000 $ 6,573,000 Impaired originated loans as of December 31, 2015, and average impaired originated loans for the three and six months ended June 30, 2015, were as follows: Unpaid Contractual Principal Balance Recorded Principal Balance Related Allowance Second Quarter Average Recorded Principal Balance Year-To-Date Average Recorded Principal Balance With no related allowance recorded Commercial: Commercial and industrial $ 1,509,000 $ 1,501,000 $ 1,930,000 $ 1,674,000 Vacant land, land development and residential construction 0 0 98,000 135,000 Real estate – owner occupied 712,000 505,000 1,062,000 1,342,000 Real estate – non-owner occupied 5,696,000 5,696,000 2,937,000 2,362,000 Real estate – multi-family and residential rental 0 0 306,000 309,000 Total commercial 7,917,000 7,702,000 6,333,000 5,822,000 Retail: Home equity and other 14,000 5,000 189,000 190,000 1-4 family mortgages 1,328,000 657,000 615,000 597,000 Total retail 1,342,000 662,000 804,000 787,000 Total with no related allowance recorded $ 9,259,000 $ 8,364,000 $ 7,137,000 $ 6,609,000 Unpaid Contractual Principal Balance Recorded Principal Balance Related Allowance Second Quarter Average Recorded Principal Balance Year-To-Date Average Recorded Principal Balance With an allowance recorded Commercial: Commercial and industrial $ 352,000 $ 305,000 $ 165,000 $ 2,812,000 $ 3,617,000 Vacant land, land development and residential construction 2,017,000 1,655,000 245,000 2,092,000 2,061,000 Real estate – owner occupied 5,867,000 1,314,000 242,000 8,806,000 11,095,000 Real estate – non-owner occupied 4,841,000 4,841,000 201,000 10,319,000 12,195,000 Real estate – multi-family and residential rental 1,028,000 1,028,000 365,000 1,321,000 1,338,000 Total commercial 14,105,000 9,143,000 1,218,000 25,350,000 30,306,000 Retail: Home equity and other 600,000 562,000 209,000 165,000 138,000 1-4 family mortgages 165,000 128,000 47,000 217,000 811,000 Total retail 765,000 690,000 256,000 382,000 949,000 Total with an allowance recorded $ 14,870,000 $ 9,833,000 $ 1,474,000 $ 25,732,000 $ 31,255,000 Total impaired loans: Commercial $ 22,022,000 $ 16,845,000 $ 1,218,000 $ 31,683,000 $ 36,128,000 Retail 2,107,000 1,352,000 256,000 1,186,000 1,736,000 Total impaired loans $ 24,129,000 $ 18,197,000 $ 1,474,000 $ 32,869,000 $ 37,864,000 Impaired acquired loans as of December 31, 2015, and average impaired acquired loans for the three and six months ended June 30, 2015, were as follows: Unpaid Contractual Principal Balance Recorded Principal Balance Related Allowance Second Quarter Average Recorded Principal Balance Year-To-Date Average Recorded Principal Balance With no related allowance recorded Commercial: Commercial and industrial $ 1,528,000 $ 1,494,000 $ 1,244,000 $ 1,356,000 Vacant land, land development and residential construction 0 0 0 0 Real estate – owner occupied 2,233,000 1,952,000 317,000 249,000 Real estate – non-owner occupied 880,000 880,000 427,000 393,000 Real estate – multi-family and residential rental 452,000 404,000 2,037,000 1,520,000 Total commercial 5,093,000 4,730,000 4,025,000 3,518,000 Retail: Home equity and other 471,000 310,000 365,000 456,000 1-4 family mortgages 1,804,000 1,548,000 801,000 823,000 Total retail 2,275,000 1,858,000 1,166,000 1,279,000 Total with no related allowance recorded $ 7,368,000 $ 6,588,000 $ 5,191,000 $ 4,797,000 Unpaid Contractual Principal Balance Recorded Principal Balance Related Allowance Second Quarter Average Recorded Principal Balance Year-To-Date Average Recorded Principal Balance With an allowance recorded Commercial: Commercial and industrial $ 383,000 $ 376,000 $ 102,000 $ 97,000 $ 65,000 Vacant land, land development and residential construction 0 0 0 0 0 Real estate – owner occupied 51,000 51,000 4,000 1,256,000 1,338,000 Real estate – non-owner occupied 0 0 0 0 0 Real estate – multi-family and residential rental 23,000 23,000 0 28,000 19,000 Total commercial 457,000 450,000 106,000 1,381,000 1,422,000 Retail: Home equity and other 0 0 0 0 0 1-4 family mortgages 175,000 175,000 6,000 283,000 189,000 Total retail 175,000 175,000 6,000 283,000 189,000 Total with an allowance recorded $ 632,000 $ 625,000 $ 112,000 $ 1,664,000 $ 1,611,000 Total impaired loans: Commercial $ 5,550,000 $ 5,180,000 $ 106,000 $ 5,406,000 $ 4,940,000 Retail 2,450,000 2,033,000 6,000 1,449,000 1,468,000 Total impaired loans $ 8,000,000 $ 7,213,000 $ 112,000 $ 6,855,000 $ 6,408,000 Impaired loans for which no allocation of the allowance for loan losses has been made generally reflect situations whereby the loans have been charged-down to estimated collateral value. Interest income recognized on accruing troubled debt restructurings totaled $0.2 million and $0.4 million during the second quarter of 2016 and 2015, respectively, and $0.5 million and $0.8 million during the first six months of 2016 and 2015, respectively. No interest income was recognized on nonaccrual loans during the second quarter and first six months of 2016 or during the respective 2015 periods. Credit Quality Indicators. Credit quality indicators were as follows as of June 30, 2016: Originated loans Commercial credit exposure – credit risk profiled by internal credit risk grades: Commercial and Industrial Commercial Vacant Land, Land Development, and Residential Construction Commercial Real Estate - Owner Occupied Commercial Real Estate - Non-Owner Occupied Commercial Real Estate - Multi-Family and Residential Rental Internal credit risk grade groupings: Grades 1 – 4 $ 455,134,000 $ 19,014,000 $ 237,652,000 $ 491,928,000 $ 20,438,000 Grades 5 – 7 197,701,000 11,093,000 99,961,000 111,308,000 17,816,000 Grades 8 – 9 300,000 125,000 1,296,000 0 979,000 Total commercial $ 653,135,000 $ 30,232,000 $ 338,909,000 $ 603,236,000 $ 39,233,000 Retail credit exposure – credit risk profiled by collateral type: Retail Home Equity and Other Retail 1-4 Family Mortgages Total retail $ 69,396,000 $ 65,813,000 Acquired loans Commercial credit exposure – credit risk profiled by internal credit risk grades: Commercial and Industrial Commercial Vacant Land, Land Development, and Residential Construction Commercial Real Estate - Owner Occupied Commercial Real Estate - Non-Owner Occupied Commercial Real Estate - Multi-Family and Residential Rental Internal credit risk grade groupings: Grades 1 – 4 $ 50,716,000 $ 2,322,000 $ 41,217,000 $ 70,569,000 $ 42,729,000 Grades 5 – 7 43,819,000 7,648,000 55,364,000 41,431,000 30,692,000 Grades 8 – 9 2,466,000 327,000 3,308,000 1,694,000 708,000 Total commercial $ 97,001,000 $ 10,297,000 $ 99,889,000 $ 113,694,000 $ 74,129,000 Retail credit exposure – credit risk profiled by collateral type: Retail Home Equity and Other Retail 1-4 Family Mortgages Total retail $ 61,671,000 $ 123,305,000 Credit quality indicators were as follows as of December 31, 2015: Originated loans Commercial credit exposure – credit risk profiled by internal credit risk grades: Commercial and Industrial Commercial Vacant Land, Land Development, and Residential Construction Commercial Real Estate - Owner Occupied Commercial Real Estate - Non-Owner Occupied Commercial Real Estate - Multi-Family and Residential Rental Internal credit risk grade groupings: Grades 1 – 4 $ 417,120,000 $ 18,118,000 $ 230,629,000 $ 400,350,000 $ 19,121,000 Grades 5 – 7 160,454,000 10,365,000 98,332,000 120,404,000 13,806,000 Grades 8 – 9 298,000 1,655,000 1,837,000 0 1,027,000 Total commercial $ 577,872,000 $ 30,138,000 $ 330,798,000 $ 520,754,000 $ 33,954,000 Retail credit exposure – credit risk profiled by collateral type: Retail Home Equity and Other Retail 1-4 Family Mortgages Total retail $ 67,816,000 $ 55,255,000 Acquired loans Commercial credit exposure – credit risk profiled by internal credit risk grades: Commercial and Industrial Commercial Vacant Land, Land Development, and Residential Construction Commercial Real Estate - Owner Occupied Commercial Real Estate - Non-Owner Occupied Commercial Real Estate - Multi-Family and Residential Rental Internal credit risk grade groupings: Grades 1 – 4 $ 67,978,000 $ 3,095,000 $ 45,807,000 $ 71,197,000 $ 44,763,000 Grades 5 – 7 47,589,000 11,364,000 63,563,000 50,066,000 35,288,000 Grades 8 – 9 2,864,000 523,000 5,751,000 2,334,000 998,000 Total commercial $ 118,431,000 $ 14,982,000 $ 115,121,000 $ 123,597,000 $ 81,049,000 Retail credit exposure – credit risk profiled by collateral type: Retail Home Equity and Other Retail 1-4 Family Mortgages Total retail $ 72,830,000 $ 135,130,000 All commercial loans are graded using the following criteria: Grade 1. Excellent credit rating that contain very little, if any, risk of loss. Grade 2. Strong sources of repayment and have low repayment risk. Grade 3. Good sources of repayment and have limited repayment risk. Grade 4. Adequate sources of repayment and acceptable repayment risk; however, characteristics are present that render the credit more vulnerable to a negative event. Grade 5. Marginally acceptable sources of repayment and exhibit defined weaknesses and negative characteristics. Grade 6. Well defined weaknesses which may include negative current cash flow, high leverage, or operating losses. Generally, if the credit does not stabilize or if further deterioration is observed in the near term, the loan will likely be downgraded and placed on the Watch List (i.e., list of lending relationships that receive increased scrutiny and review by the Board of Directors and senior management). Grade 7. Defined weaknesses or negative trends that merit close monitoring through Watch List status. Grade 8. Inadequately protected by current sound net worth, paying capacity of the obligor, or pledged collateral, resulting in a distinct possibility of loss requiring close monitoring through Watch List status. Grade 9. Vital weaknesses exist where collection of principal is highly questionable. Grade 10. Considered uncollectable and of such little value that continuance as an asset is not warranted. The primary risk elements with respect to commercial loans are the financial condition of the borrower, the sufficiency of collateral, and timeliness of scheduled payments. We have a policy of requesting and reviewing periodic financial statements from commercial loan customers and employ a disciplined and formalized review of the existence of collateral and its value. The primary risk element with respect to each residential real estate loan and consumer loan is the timeliness of scheduled payments. We have a reporting system that monitors past due loans and have adopted policies to pursue creditor’s rights in order to preserve our collateral position. Activity in the allowance for loan losses and the recorded investments in originated loans as of and during the three and six months ended June 30, 2016 are as follows: Commercial Loans Retail Loans Unallocated Total Allowance for loan losses: Balance at March 31, 2016 $ 13,924,000 $ 1,834,000 $ 214,000 $ 15,972,000 Provision for loan losses 842,000 296,000 20,000 1,158,000 Charge-offs (166,000 ) (231,000 ) 0 (397,000 ) Recoveries 129,000 14,000 0 143,000 Ending balance $ 14,729,000 $ 1,913,000 $ 234,000 $ 16,876,000 Allowance for loan losses: Balance at December 31, 2015 $ 13,672,000 $ 1,421,000 $ 140,000 $ 15,233,000 Provision for loan losses 936,000 799,000 94,000 1,829,000 Charge-offs (255,000 ) (617,000 ) 0 (872,000 ) Recoveries 376,000 310,000 0 686,000 Ending balance $ 14,729,000 $ 1,913,000 $ 234,000 $ 16,876,000 Ending balance: individually evaluated for impairment $ 827,000 $ 209,000 $ 0 $ 1,036,000 Ending balance: collectively evaluated for impairment $ 13,902,000 $ 1,704,000 $ 234,000 $ 15,840,000 Total loans: Ending balance $ 1,664,745,000 $ 135,209,000 $ 1,799,954,000 Ending balance: individually evaluated for impairment $ 16,905,000 $ 1,463,000 $ 18,368,000 Ending balance: collectively evaluated for impairment $ 1,647,840,000 $ 133,746,000 $ 1,781,586,000 Activity in the allowance for loan losses for acquired loans during the three and six months ended June 30, 2016 is as follows: Commercial Loans Retail Loans Unallocated Total Allowance for loan losses: Balance at March 31, 2016 $ 266,000 $ 24,000 $ 0 $ 290,000 Provision for loan losses (57,000 ) (1,000 ) 0 (58,000 ) Charge-offs 0 0 0 0 Recoveries 2,000 0 0 2,000 Ending balance $ 211,000 $ 23,000 $ 0 $ 234,000 Allowance for loan losses: Balance at December 31, 2015 $ 420,000 $ 28,000 $ 0 $ 448,000 Provision for loan losses (167,000 ) 38,000 0 (129,000 ) Charge-offs 0 0 0 0 Recoveries (42,000 ) (43,000 ) 0 (85,000 ) Ending balance $ 211,000 $ 23,000 $ 0 $ 234,000 The negative loan recoveries reflected for acquired loans during the first six months of 2016 resulted from reversals of prior-period recoveries associated with certain purchased credit impaired (“PCI”) loans that were subject to pre-acquisition charge-offs. Post-acquisition payments received on these PCI loans were previously reported as loan loss recoveries in prior periods; during the first quarter of 2016, these recoveries were reversed and reported as recovery income if associated with specifically reviewed PCI loans or retained gains if associated with PCI-pooled loans. Activity in the all |
Note 4 - Premises and Equipment
Note 4 - Premises and Equipment, Net | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | 4. PREMISES AND EQUIPMENT, NET Premises and equipment are comprised of the following: June 30, 2016 December 31, 2015 Land and improvements $ 16,438,000 $ 16,529,000 Buildings 39,422,000 39,394,000 Furniture and equipment 17,072,000 16,978,000 72,932,000 72,901,000 Less: accumulated depreciation 27,374,000 26,039,000 Premises and equipment, net $ 45,558,000 $ 46,862,000 Depreciation expense totaled $0.7 million during the second quarter of 2016, compared to $0.8 million during the second quarter of 2015. Depreciation expense totaled $1.4 million during the first six months of 2016, compared to $1.5 million during the first six months of 2015. |
Note 5 - Deposits
Note 5 - Deposits | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Deposit Liabilities Disclosures [Text Block] | 5. DEPOSITS Our total deposits at June 30, 2016 totaled $2.28 billion, an increase of $4.3 million, or 0.2%, from December 31, 2015. The components of our outstanding balances at June 30, 2016 and December 31, 2015, and percentage change in deposits from the end of 2015 to the end of the second quarter of 2016, are as follows: June 30, 2016 December 31, 2015 Percent Increase Balance % Balance % (Decrease) Noninterest-bearing demand $ 733,573,000 32.2 % $ 674,568,000 29.6 % 8.7 % Interest-bearing checking 326,752,000 14.3 403,354,000 17.7 (19.0 ) Money market 305,217,000 13.4 274,395,000 12.1 11.2 Savings 341,445,000 15.0 332,794,000 14.6 2.6 Time, under $100,000 146,477,000 6.4 155,655,000 6.9 (5.9 ) Time, $100,000 and over 329,601,000 14.5 313,247,000 13.8 5.2 2,183,065,000 95.8 2,154,013,000 94.7 1.3 Out-of-area time, under $100,000 0 0.0 149,000 < 0.1 NA Out-of-area time, $100,000 and over 96,653,000 4.2 121,220,000 5.3 (20.3 ) 96,653,000 4.2 121,369,000 5.3 (20.4 ) Total deposits $ 2,279,718,000 100.0 % $ 2,275,382,000 100.0 % 0.2 % Total time deposits of more than $250,000 totaled $209 million and $180 million at June 30, 2016 and December 31, 2015, respectively. |
Note 6 - Securities Sold Under
Note 6 - Securities Sold Under Agreements to Repurchase | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Repurchase Agreements, Resale Agreements, Securities Borrowed, and Securities Loaned Disclosure [Text Block] | 6. SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE Securities sold under agreements to repurchase (“repurchase agreements”) are offered principally to certain large deposit customers. Information relating to our repurchase agreements follows: Six Months Ended June 30, 2016 Twelve Months Ended December 31, 2015 Outstanding balance at end of period $ 136,690,000 $ 154,771,000 Average interest rate at end of period 0.14 % 0.11 % Average daily balance during the period $ 153,578,000 $ 146,826,000 Average interest rate during the period 0.12 % 0.11 % Maximum daily balance during the period $ 175,088,000 $ 168,211,000 Repurchase agreements generally have maturities of one business day. Repurchase agreements are treated as financings and the obligations to repurchase securities sold are reflected as liabilities. Securities involved with the agreements are recorded as assets of our bank and are held in safekeeping by a correspondent bank. Repurchase agreements are secured by securities with an aggregate market value equal to the aggregate outstanding balance. |
Note 7 - Federal Home Loan Bank
Note 7 - Federal Home Loan Bank of Indianapolis Advances | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Federal Home Loan Bank Advances, Disclosure [Text Block] | 7. FEDERAL HOME LOAN BANK OF INDIANAPOLIS ADVANCES Federal Home Loan Bank of Indianapolis (“FHLBI”) advances totaled $178 million at June 30, 2016, and mature at varying dates from December 2016 through April 2023, with fixed rates of interest from 1.04% to 2.11% and averaging 1.47%. FHLBI advances totaled $68.0 million at December 31, 2015, and were to mature at varying dates ranging from December 2016 through August 2022, with fixed rates of interest from 1.22% to 2.11% and averaging 1.49%. Each advance is payable at its maturity date and is subject to a prepayment fee if paid prior to the maturity date. The advances are collateralized by residential mortgage loans, first mortgage liens on multi-family residential property loans, first mortgage liens on commercial real estate property loans, and substantially all other assets of our bank, under a blanket lien arrangement. Our borrowing line of credit as of June 30, 2016 totaled about $491 million, with availability based on collateral approximating $313 million. Maturities of currently outstanding FHLBI advances are as follows: 2016 $ 3,000,000 2017 45,000,000 2018 20,000,000 2019 20,000,000 2020 20,000,000 Thereafter 70,000,000 |
Note 8 - Commitments and Off-ba
Note 8 - Commitments and Off-balance Sheet Risk | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Commitments Contingencies and Guarantees [Text Block] | 8. COMMITMENTS AND OFF-BALANCE SHEET RISK Our bank is a party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit and standby letters of credit. Loan commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Standby letters of credit are conditional commitments issued by our bank to guarantee the performance of a customer to a third party. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. These instruments involve, to varying degrees, elements of credit risk in excess of the amount recognized, if any, in the balance sheet. Our bank’s maximum exposure to loan loss in the event of nonperformance by the other party to the financial instrument for commitments to extend credit and standby letters of credit is represented by the contractual notional amount of those instruments. Our bank uses the same credit policies in making commitments and conditional obligations as it does for on-balance sheet instruments. Collateral, such as accounts receivable, securities, inventory, and property and equipment, is generally obtained based on our credit assessment of the borrower. If required, estimated loss exposure resulting from these instruments is expensed and is generally recorded as a liability. There was no reserve or liability balance for these instruments as of June 30, 2016 and December 31, 2015. A summary of the contractual amounts of our financial instruments with off-balance sheet risk at June 30, 2016 and December 31, 2015 follows: June 30, 2016 December 31, 2015 Commercial unused lines of credit $ 516,345,000 $ 522,658,000 Unused lines of credit secured by 1 – 4 family esidential properties 59,163,000 61,905,000 Credit card unused lines of credit 18,295,000 15,612,000 Other consumer unused lines of credit 6,970,000 8,583,000 Commitments to make loans 212,873,000 178,034,000 Standby letters of credit 33,206,000 34,946,000 $ 846,852,000 $ 821,738,000 Certain of our commercial loan customers have entered into interest rate swap agreements directly with our correspondent banks. To assist our commercial loan customers in these transactions, and to encourage our correspondent banks to enter into the interest rate swap transactions with minimal credit underwriting analyses on their part, we have entered into risk participation agreements with the correspondent banks whereby we agree to make payments to the correspondent banks owed by our commercial loan customers under the interest rate swap agreement in the event that our commercial loan customers do not make the payments. We are not a party to the interest rate swap agreements under these arrangements. As of June 30, 2016, the total notional amount of the underlying interest rate swap agreements was $14.2 million, with a net fair value from our commercial loan customers’ perspective of negative $2.6 million. These risk participation agreements are considered financial guarantees in accordance with applicable accounting guidance and are therefore recorded as liabilities at fair value, generally equal to the fees collected at the time of their execution. These liabilities are accreted into income during the term of the interest rate swap agreements, generally ranging from four to fifteen years. |
Note 9 - Hedging Activities
Note 9 - Hedging Activities | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | 9. HEDGING ACTIVITIES Our interest rate risk policy includes guidelines for measuring and monitoring interest rate risk. Within these guidelines, parameters have been established for maximum fluctuations in net interest income. Possible fluctuations are measured and monitored using net interest income simulation. Our policy provides for the use of certain derivative instruments and hedging activities to aid in managing interest rate risk to within the policy parameters. To help mitigate the negative impact to our net interest income in an increasing interest rate environment resulting from our cost of funds likely increasing at a higher rate than the yield on our assets, we may periodically enter into derivative financial instruments. In February 2012, we entered into an interest rate swap agreement with a correspondent bank to hedge the floating rate on our subordinated debentures, which became effective in January 2013 and matures in January 2018. Our $32.0 million of subordinated debentures have a rate equal to the 90-Day Libor Rate plus a fixed spread of 218 basis points, and are subject to repricing quarterly. The interest rate swap agreement provides for us to pay our correspondent bank a fixed rate, while our correspondent bank will pay us the 90-Day Libor Rate on a $32.0 million notional amount. The quarterly re-set dates for the floating rate on the interest rate swap agreement are the same as the re-set dates for the floating rate on the subordinated debentures. The interest rate swap agreement does qualify for hedge accounting; therefore, monthly fluctuations in the present value of the interest rate swap agreement, net of tax effect, are recorded to other comprehensive income. As of June 30, 2016 and December 31, 2015, the fair value of the interest rate swap agreement was recorded as a liability in the amount of $0.3 million. Effective January 26, 2016, the notional amount of the interest rate swap agreement was reduced from $32.0 million down to $21.0 million, reflecting the $11.0 million repurchase of the associated trust preferred securities on that date. We reclassified out of accumulated other comprehensive income and recorded interest expense of approximately $0.2 million in January 2016 as part of the transaction, reflecting the market value (i.e., present value of expected future cash flows) of the interest rate swap on that date of the $11.0 million portion. |
Note 10 - Fair Values of Financ
Note 10 - Fair Values of Financial Instruments | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 10. FAIR VALUES OF FINANCIAL INSTRUMENTS The carrying amounts, estimated fair values and level within the fair value hierarchy of financial instruments were as follows as of June 30, 2016 and December 31, 2015 (dollars in thousands): Level in June 30, 2016 December 31, 2015 Fair Value Carrying Fair Carrying Values Fair Financial assets: Cash Level 1 $ 12,406 $ 12,406 $ 12,496 $ 12,496 Cash equivalents Level 2 94,577 94,577 77,395 77,395 Securities available for sale (1) 323,452 323,452 346,992 346,992 FHLBI stock (2) 8,026 8,026 7,567 7,567 Loans, net Level 3 2,359,951 2,356,483 2,260,730 2,259,710 Loans held for sale Level 2 2,879 2,879 1,316 1,316 Bank owned life insurance Level 2 66,537 66,537 58,971 58,971 Accrued interest receivable Level 2 7,268 7,268 7,836 7,836 Financial liabilities: Deposits Level 2 2,279,718 2,226,310 2,275,382 2,208,724 Repurchase agreements Level 2 136,690 136,690 154,771 154,771 FHLBI advances Level 2 178,000 180,504 68,000 68,858 Subordinated debentures Level 2 44,494 44,505 55,154 55,760 Accrued interest payable Level 2 1,517 1,517 1,479 1,479 Interest rate swap (1) 278 278 253 253 (1) See Note 11 for a description of the fair value hierarchy as well as a disclosure of levels for classes of financial assets and liabilities. (2) It is not practical to determine the fair value of FHLBI stock due to transferability restrictions. Carrying amount is the estimated fair value for cash and cash equivalents, accrued interest receivable and payable, bank owned life insurance, noninterest checking deposits, securities sold under agreements to repurchase, and variable rate loans and deposits that reprice frequently and fully. Security fair values are based on market prices or dealer quotes, and if no such information is available, on the rate and term of the security and information about the issuer. For fixed rate loans and deposits and for variable rate loans and deposits with infrequent repricing or repricing limits, fair value is based on discounted cash flows using current market rates applied to the estimated life and credit risk. Fair value of subordinated debentures and FHLBI advances is based on current rates for similar financing. Fair value of the interest rate swap is determined primarily utilizing market-consensus forecasted yield curves. Fair value of off-balance sheet items is estimated to be nominal. |
Note 11 - Fair Values
Note 11 - Fair Values | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Fair Value, Measurement Inputs, Disclosure [Text Block] | 11. FAIR VALUES Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. A fair value measurement assumes that the transaction to sell the asset or transfer the liability occurs in the principal market for the asset or liability, or in the absence of a principal market, the most advantageous market for the asset or liability. The price of the principal (or most advantageous) market used to measure the fair value of the asset or liability is not adjusted for transaction costs. An orderly transaction is a transaction that assumes exposure to the market for a period prior to the measurement date to allow for marketing activities that are usual and customary for transactions involving such assets and liabilities; it is not a forced transaction. Market participants are buyers and sellers in the principal market that are (i) independent, (ii) knowledgeable, (iii) able to transact and (iv) willing to transact. We are required to use valuation techniques that are consistent with the market approach, the income approach and/or the cost approach. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets and liabilities. The income approach uses valuation techniques to convert future amounts, such as cash flows or earnings, to a single present amount on a discounted basis. The cost approach is based on the amount that currently would be required to replace the service capacity of an asset (replacement cost). Valuation techniques should be consistently applied. Inputs to valuation techniques refer to the assumptions that market participants would use in pricing the asset or liability. Inputs may be observable, meaning those that reflect the assumptions market participants would use in pricing the asset or liability based on market data obtained from independent sources, or unobservable, meaning those that reflect our own assumptions about the assumptions market participants would use in pricing the asset or liability based on the best information available in the circumstances. In that regard, we utilize a fair value hierarchy for valuation inputs that gives the highest priority to quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The fair value hierarchy is as follows: Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets that we have the ability to access as of the measurement date. Level 2: Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; or other inputs that are observable or can be derived from or corroborated by observable market data by correlation or other means. Level 3: Significant unobservable inputs that reflect our own conclusions about the assumptions that market participants would use in pricing an asset or liability. (Continued) MERCANTILE BANK CORPORATION NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) 11. FAIR VALUES The following is a description of our valuation methodologies used to measure and disclose the fair values of our financial assets and liabilities that are recorded at fair value on a recurring or nonrecurring basis: Securities available for sale. Derivatives Mortgage loans held for sale Loans Foreclosed Assets. (Continued) MERCANTILE BANK CORPORATION NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) 11. FAIR VALUES Assets and Liabilities Measured at Fair Value on a Recurring Basis The balances of assets and liabilities measured at fair value on a recurring basis as of June 30, 2016 are as follows: Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Available for sale securities U.S. Government agency debt obligations $ 132,942,000 $ 0 $ 132,942,000 $ 0 Mortgage-backed securities 57,545,000 0 57,545,000 0 Municipal general obligation bonds 122,386,000 0 115,917,000 6,469,000 Municipal revenue bonds 8,593,000 0 8,593,000 0 Other investments 1,986,000 0 1,986,000 0 Interest rate swap (278,000 ) 0 (278,000 ) 0 Total $ 323,174,000 $ 0 $ 316,705,000 $ 6,469,000 There were no transfers in or out of Level 1, Level 2 or Level 3 during the first six months of 2016. The balances of assets and liabilities measured at fair value on a recurring basis as of December 31, 2015 are as follows: Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Available for sale securities U.S. Government agency $ 147,040,000 $ 0 $ 147,040,000 $ 0 Mortgage-backed securities 67,074,000 0 67,074,000 0 Municipal general obligation bonds 122,023,000 0 113,604,000 8,419,000 Municipal revenue bonds 8,914,000 0 8,914,000 0 Other investments 1,941,000 0 1,941,000 0 Interest rate swap (253,000 ) 0 (253,000 ) 0 Total $ 346,739,000 $ 0 $ 338,320,000 $ 8,419,000 There were no transfers in or out of Level 1, Level 2 or Level 3 during 2015. (Continued) MERCANTILE BANK CORPORATION NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) 11. FAIR VALUES Assets and Liabilities Measured at Fair Value on a Nonr ecurring Basis The balances of assets and liabilities measured at fair value on a nonrecurring basis as of June 30, 2016 are as follows: Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Impaired loans (1) $ 9,012,000 $ 0 $ 0 $ 9,012,000 Foreclosed assets (1) 815,000 0 0 815,000 Total $ 9,827,000 $ 0 $ 0 $ 9,827,000 The balances of assets and liabilities measured at fair value on a nonrecurring basis as of December 31, 2015 are as follows: Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Impaired loans (1) $ 8,970,000 $ 0 $ 0 $ 8,970,000 Foreclosed assets (1) 1,293,000 0 0 1,293,000 Total $ 10,263,000 $ 0 $ 0 $ 10,263,000 (1) Represents carrying value and related write-downs for which adjustments are based on the estimated value of the property or other assets. |
Note 12 - Regulatory Matters
Note 12 - Regulatory Matters | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | 12. REGULATORY MATTERS We are subject to regulatory capital requirements administered by federal banking agencies. Capital adequacy guidelines and prompt corrective action regulations involve quantitative measures of assets, liabilities, and certain off-balance sheet items calculated under regulatory accounting practices. Capital amounts and classifications are also subject to qualitative judgments by regulators about components, risk weightings, and other factors, and the regulators can lower classifications in certain cases. Failure to meet various capital requirements can initiate regulatory action that could have a direct material effect on our financial statements. The prompt corrective action regulations provide five classifications, including well capitalized, adequately capitalized, undercapitalized, significantly undercapitalized, and critically undercapitalized, although these terms are not used to represent overall financial condition. If an institution is not well capitalized, regulatory approval is required to accept brokered deposits. Subject to limited exceptions, no institution may make a capital distribution if, after making the distribution, it would be undercapitalized. If an institution is undercapitalized, it is subject to close monitoring by its principal federal regulator, its asset growth and expansion are restricted, and plans for capital restoration are required. In addition, further specific types of restrictions may be imposed on the institution at the discretion of the federal regulator. At June 30, 2016 and December 31, 2015, our bank was in the well capitalized category under the regulatory framework for prompt corrective action. There are no conditions or events since June 30, 2016 that we believe have changed our bank’s categorization. Our actual capital levels (dollars in thousands) and the minimum levels required to be categorized as adequately and well capitalized were: Actual Minimum Required for Capital Adequacy Purposes Minimum Required to be Well Capitalized Under Prompt Corrective Action Regulations Amount Ratio Amount Ratio Amount Ratio June 30, 2016 Total capital (to risk weighted assets) Consolidated $ 347,819 13.0 % $ 214,866 8.0 % $ NA NA Bank 350,224 13.1 214,632 8.0 268,290 10.0 % Tier 1 capital (to risk weighted assets) Consolidated 330,710 12.3 161,150 6.0 NA NA Bank 333,114 12.4 160,974 6.0 214,632 8.0 Common equity tier 1 (to risk weighted assets) Consolidated 288,289 10.7 120,863 4.5 NA NA Bank 333,114 12.4 120,731 4.5 174,388 6.5 Tier 1 capital (to average assets) Consolidated 330,710 11.4 115,944 4.0 NA NA Bank 333,114 11.5 115,924 4.0 144,905 5.0 Actual Minimum Required for Capital Adequacy Purposes Minimum Required to be Well Capitalized Under Prompt Corrective Action Regulations Amount Ratio Amount Ratio Amount Ratio December 31, 2015 Total capital (to risk weighted assets) Consolidated $ 345,539 13.5 % $ 205,602 8.0 % $ NA NA Bank 347,433 13.5 205,624 8.0 257,030 10.0 % Tier 1 capital (to risk weighted assets) Consolidated 329,858 12.8 154,201 6.0 NA NA Bank 331,752 12.9 154,218 6.0 205,624 8.0 Common equity tier 1 (to risk weighted assets) Consolidated 280,171 10.9 115,804 4.5 NA NA Bank 331,752 12.9 115,664 4.5 167,070 6.5 Tier 1 capital (to average assets) Consolidated 329,858 11.6 114,138 4.0 NA NA Bank 331,752 11.6 114,280 4.0 142,850 5.0 Our consolidated capital levels as of June 30, 2016 and December 31, 2015 include $42.2 million and $53.1 million, respectively, of trust preferred securities subject to certain limitations. Under applicable Federal Reserve guidelines, the trust preferred securities constitute a restricted core capital element. The guidelines provide that the aggregate amount of restricted core elements that may be included in our Tier 1 capital must not exceed 25% of the sum of all core capital elements, including restricted core capital elements, net of goodwill less any associated deferred tax liability. Our ability to include the trust preferred securities in Tier 1 capital in accordance with the guidelines is not affected by the provision of the Dodd-Frank Act generally restricting such treatment, because (i) the trust preferred securities were issued before May 19, 2010, and (ii) our total consolidated assets as of December 31, 2009 were less than $15.0 billion. As of June 30, 2016 and December 31, 2015, all $42.2 million and $53.1 million, respectively, of the trust preferred securities were included in our consolidated Tier 1 capital. Our regulatory capital calculations and the minimum requirements to be categorized as well capitalized and adequately capitalized under the prompt corrective action regulations were impacted by BASEL III, which became effective January 1, 2015 and are included in the tables above. The net impact on our regulatory capital ratios and our overall capital position was not material. On January 26, 2016, we closed on a repurchase of trust preferred securities that were auctioned as part of a pooled collateralized debt obligation (“Fund”). The Fund owned $11.0 million of the $32.0 million in trust preferred securities that had been issued by Mercantile Bank Capital Trust I, a wholly-owned business trust subsidiary. The $11.0 million in trust preferred securities was retired upon the repurchase, resulting in a commensurate reduction in the related Floating Rate Junior Subordinate Note, leaving $21.0 million outstanding. Our accepted bid equated to 73% of the $11.0 million par value, with the 27% discount resulting in a pre-tax gain of approximately $3.0 million (after-tax gain of approximately $1.8 million, or $0.11 per diluted share). On a pro forma basis as of December 31, 2015, the repurchase resulted in a nine basis point increase in our tangible equity to tangible assets ratio and an $0.11 increase in our tangible book value per share, but an approximately 35 basis point decline in our regulatory tier 1 capital and total risk-based capital ratios. The repurchase was funded via a cash dividend from our bank, resulting in a similar decline of approximately 35 basis points in the regulatory capital ratios. Subsequent to the repurchase, the regulatory capital ratios of both Mercantile and our bank remained well above the minimum thresholds to be categorized as well capitalized. Our and our bank’s ability to pay cash and stock dividends is subject to limitations under various laws and regulations and to prudent and sound banking practices. On January 14, 2016, our Board of Directors declared a cash dividend on our common stock in the amount of $0.16 per share that was paid on March 23, 2016 to shareholders of record as of March 11, 2016. On April 14, 2016, our Board of Directors declared a cash dividend on our common stock in the amount of $0.16 per share that was paid on June 23, 2016 to shareholders of record as of June 10, 2016. On July 14, 2016, our Board of Directors declared a cash dividend on our common stock in the amount of $0.17 per share that will be paid on September 21, 2016 to shareholders of record as of September 9, 2016. On January 30, 2015, we announced that our Board of Directors had authorized a new program to repurchase up to $20.0 million of our common stock from time to time in open market transactions at prevailing market prices or by other means in accordance with applicable regulations. On April 19, 2016, we announced that our Board of Directors had authorized a $15.0 million expansion of the existing common stock repurchase program. During the first six months of 2016, we purchased approximately 168,000 shares of common stock at an average price of $22.23, totaling about $3.7 million. Since the program’s inception, we have purchased approximately 956,000 shares of common stock at an average price of $20.38, totaling about $19.5 million. All common stock repurchases to date have been funded from cash dividends paid to us from our bank, and we expect future common stock repurchases to be funded in the same manner. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2016 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation We have five separate business trusts that were formed to issue trust preferred securities. Subordinated debentures were issued to the trusts in return for the proceeds raised from the issuance of the trust preferred securities. The trusts are not consolidated, but instead we report the subordinated debentures issued to the trusts as a liability. |
Earnings Per Share, Policy [Policy Text Block] | Earnings Per Share Approximately 150,000 unvested restricted shares were included in determining both basic and diluted earnings per share for the three and six months ended June 30, 2016. In addition, stock options for approximately 92,000 shares of common stock were included in determining diluted earnings per share for the three and six months ended June 30, 2016. Stock options for approximately 7,000 shares of common stock were antidilutive and not included in determining diluted earnings per share for the three and six months ended June 30, 2016. Approximately 100,000 unvested restricted shares were included in determining both basic and diluted earnings per share for the three and six months ended June 30, 2015. In addition, stock options for approximately 108,000 shares of common stock were included in determining diluted earnings per share for the three and six months ended June 30, 2015. Stock options for approximately 91,000 shares of common stock were antidilutive and not included in determining diluted earnings per share for the three and six months ended June 30, 2015. |
Marketable Securities, Policy [Policy Text Block] | Securities Interest income includes amortization of purchase premiums and accretion of discounts. Premiums and discounts on securities are amortized or accreted on the level-yield method without anticipating prepayments, except for mortgage-backed securities where prepayments are anticipated. Gains and losses on sales are recorded on the trade date and determined using the specific identification method. Declines in the fair value of debt securities below their amortized cost that are other than temporary (“OTTI”) are reflected in earnings or other comprehensive income, as appropriate. For those debt securities whose fair value is less than their amortized cost, we consider our intent to sell the security, whether it is more likely than not that we will be required to sell the security before recovery and whether we expect to recover the entire amortized cost of the security based on our assessment of the issuer’s financial condition. In analyzing an issuer’s financial condition, we consider whether the securities are issued by the federal government or its agencies, and whether downgrades by bond rating agencies have occurred. If either of the criteria regarding intent or requirement to sell is met, the entire difference between amortized cost and fair value is recognized as impairment through earnings. For debt securities that do not meet the aforementioned criteria, the amount of impairment is split into two components as follows: 1) OTTI related to credit loss, which must be recognized in the income statement, and 2) OTTI related to other factors, such as liquidity conditions in the market or changes in market interest rates, which is recognized in other comprehensive income. The credit loss is defined as the difference between the present value of the cash flows expected to be collected and the amortized cost. |
Finance, Loan and Lease Receivables, Held-for-investment, Policy [Policy Text Block] | Loans Interest income on commercial loans and mortgage loans is discontinued at the time the loan is 90 days delinquent unless the loan is well-secured and in process of collection. Consumer and credit card loans are typically charged off no later than when they are 120 days past due. Past due status is based on the contractual terms of the loan. In all cases, loans are placed on nonaccrual or charged off at an earlier date if collection of principal and interest is considered doubtful. All interest accrued but not received for loans placed on nonaccrual is reversed against interest income. Interest received on such loans is accounted for on the cash-basis or cost-recovery method, until qualifying for return to accrual. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured. |
Finance, Loan and Lease Receivables, Held-for-sale, Policy [Policy Text Block] | Loans Held for Sale Mortgage loans held for sale are generally sold with servicing rights retained. Gains and losses on sales of mortgage loans are based on the difference between the selling price and the carrying value of the related loan sold, which is reduced by the cost allocated to the servicing right. We generally lock in the sale price to the purchaser of the loan at the same time we make a rate commitment to the borrower. These mortgage banking activities are not designated as hedges and are carried at fair value. The net gain or loss on mortgage banking derivatives is included in the gain on sale of loans. Mortgage loans serviced for others totaled approximately $597 million as of June 30, 2016. |
Loans and Leases Receivable, Mortgage Banking Activities, Policy [Policy Text Block] | Mortgage Banking Activities Servicing fee income is recorded for fees earned for serving mortgage loans. The fees are based on a contractual percentage of the outstanding principal or a fixed amount per loan and are recorded as income when earned. Amortization of mortgage loan servicing rights is netted against mortgage loan servicing income and recorded in mortgage banking activities in the income statement. |
Loans and Leases Receivable, Troubled Debt Restructuring Policy [Policy Text Block] | Troubled Debt Restructurings In accordance with current accounting guidance, loans modified as troubled debt restructurings are, by definition, considered to be impaired loans. Impairment for these loans is measured on a loan-by-loan basis similar to other impaired loans as described below under “Allowance for Loan Losses.” Certain loans modified as troubled debt restructurings may have been previously measured for impairment under a general allowance methodology (i.e., pooling), thus at the time the loan is modified as a troubled debt restructuring the allowance will be impacted by the difference between the results of these two measurement methodologies. Loans modified as troubled debt restructurings that subsequently default are factored into the determination of the allowance in the same manner as other defaulted loans. |
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block] | Allowance for Loan Losses A loan is considered to be impaired when, based on current information and events, it is probable we will be unable to collect the scheduled payments of principal and interest when due according to the contractual terms of the loan agreement. Factors considered in determining impairment include payment status, collateral value and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. We determine the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of delay, the reasons for delay, the borrower’s prior payment record and the amount of the shortfall in relation to the principal and interest owed. Impairment is measured on a loan-by-loan basis for commercial and construction loans by either the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s obtainable market price or the fair value of collateral if the loan is collateral dependent. |
Derivatives, Policy [Policy Text Block] | Derivatives Changes in the fair value of derivatives that are designated, for accounting purposes, as a hedge of the variability of cash flows to be received on various loans and are effective are reported in other comprehensive income. They are later reclassified into earnings in the same periods during which the hedged transaction affects earnings and are included in the line item in which the hedged cash flows are recorded. If hedge accounting does not apply, changes in the fair value of derivatives are recognized immediately in current earnings as interest income or expense. If designated as a hedge, we formally document the relationship between the derivatives and hedged items, as well as the risk-management objective and the strategy for undertaking hedge transactions. This documentation includes linking cash flow hedges to specific assets and liabilities on the balance sheet. If designated as a hedge, we also formally assess, both at the hedge’s inception and on an ongoing basis, whether the derivative instruments that are used are highly effective in offsetting changes in cash flows of the hedged items. Ineffective hedge gains and losses are recognized immediately in current earnings as noninterest income or expense. We discontinue hedge accounting when we determine the derivative is no longer effective in offsetting changes in the cash flows of the hedged item, the derivative is settled or terminates, or treatment of the derivative as a hedge is no longer appropriate or intended. |
Goodwill and Intangible Assets, Policy [Policy Text Block] | Goodwill and Core Deposit Intangible The core deposit intangible that arose from the Firstbank Corporation acquisition was initially measured at fair value and is being amortized into noninterest expense over a ten-year period using the sum-of-the-years-digits methodology. |
New Accounting Pronouncements, Policy [Policy Text Block] | Adoption of New Accounting Standards: Revenue from Contracts with Customers Revenue from Contracts with Customers – Deferral of Effective Date In January 2016, the FASB issued ASU 2016-1, Recognition and Measurement of Financial Assets and Financial Liabilities In February 2016, the FASB issued ASU 2016-02, Leases In March 2016, the FASB issued ASU 2016-09, Compensation – Stock Compensation: Improvements to Employee Share-Based Payment Accounting In June 2016, the FASB issued ASU No. 2016-13, Measurement of Credit Losses on Financial Instruments |
Note 2 - Securities (Tables)
Note 2 - Securities (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Notes Tables | |
Available-for-sale Securities [Table Text Block] | Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value June 30, 2016 U.S. Government agency debt obligations $ 132,085,000 $ 895,000 $ (38,000 ) $ 132,942,000 Mortgage-backed securities 56,616,000 979,000 (50,000 ) 57,545,000 Municipal general obligation bonds 119,878,000 2,602,000 (94,000 ) 122,386,000 Municipal revenue bonds 8,498,000 95,000 0 8,593,000 Other investments 1,962,000 24,000 0 1,986,000 $ 319,039,000 $ 4,595,000 $ (182,000 ) $ 323,452,000 December 31, 2015 U.S. Government agency debt obligations $ 146,660,000 $ 1,932,000 $ (1,552,000 ) $ 147,040,000 Mortgage-backed securities 66,670,000 708,000 (304,000 ) 67,074,000 Municipal general obligation bonds 120,679,000 1,549,000 (205,000 ) 122,023,000 Municipal revenue bonds 8,841,000 76,000 (3,000 ) 8,914,000 Other investments 1,946,000 0 (5,000 ) 1,941,000 $ 344,796,000 $ 4,265,000 $ (2,069,000 ) $ 346,992,000 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Table Text Block] | Less than 12 Months 12 Months or More Total Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Vaule Unrealized Loss June 30, 2016 U.S. Government agency debt obligations $ 3,991,000 $ 9,000 $ 2,958,000 $ 29,000 $ 6,949,000 $ 38,000 Mortgage-backed securities 3,212,000 16,000 9,899,000 34,000 13,111,000 50,000 Municipal general obligation bonds 850,000 5,000 9,042,000 89,000 9,892,000 94,000 Municipal revenue bonds 557,000 0 0 0 557,000 0 Other investments 0 0 0 0 0 0 $ 8,610,000 $ 30,000 $ 21,899,000 $ 152,000 $ 30,509,000 $ 182,000 Less than 12 Months 12 Months or More Total Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss December 31, 2015 U.S. Government agency debt obligations $ 0 $ 0 $ 76,496,000 $ 1,552,000 $ 76,496,000 $ 1,552,000 Mortgage-backed securities 18,025,000 69,000 34,660,000 235,000 52,685,000 304,000 Municipal general obligation bonds 1,981,000 4,000 30,134,000 201,000 32,115,000 205,000 Municipal revenue bonds 0 0 1,134,000 3,000 1,134,000 3,000 Other investments 1,446,000 5,000 0 0 1,446,000 5,000 $ 21,452,000 $ 78,000 $ 142,424,000 $ 1,991,000 $ 163,876,000 $ 2,069,000 |
Investments Classified by Contractual Maturity Date [Table Text Block] | Weighted Average Yield Amortized Cost Fair Value Due in 2016 1.44 % $ 32,582,000 $ 32,601,000 Due in 2017 through 2021 1.83 119,275,000 120,413,000 Due in 2022 through 2026 3.10 55,510,000 56,994,000 Due in 2027 and beyond 3.27 53,094,000 53,913,000 Mortgage-backed securities 1.76 56,616,000 57,545,000 Other investments 3.06 1,962,000 1,986,000 2.24 % $ 319,039,000 $ 323,452,000 |
Note 3 - Loans and Allowance 23
Note 3 - Loans and Allowance for Loan Losses (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Retail Portfolio Segment [Member] | |
Notes Tables | |
Financing Receivable Credit Quality Indicators [Table Text Block] | Retail Home Equity and Other Retail 1-4 Family Mortgages Total retail $ 69,396,000 $ 65,813,000 Retail Home Equity and Other Retail 1-4 Family Mortgages Total retail $ 61,671,000 $ 123,305,000 Retail Home Equity and Other Retail 1-4 Family Mortgages Total retail $ 67,816,000 $ 55,255,000 Retail Home Equity and Other Retail 1-4 Family Mortgages Total retail $ 72,830,000 $ 135,130,000 |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | Percent June 30, 2016 December 31, 2015 Increase Balance % Balance % (Decrease) Originated loans Commercial: Commercial and industrial $ 653,135,000 36.3 % $ 577,872,000 35.7 % 13.0 % Vacant land, land development, and residential construction 30,232,000 1.7 30,138,000 1.9 0.3 Real estate – owner occupied 338,909,000 18.8 330,798,000 20.5 2.5 Real estate – non-owner occupied 603,236,000 33.5 520,754,000 32.2 15.8 Real estate – multi-family and residential rental 39,233,000 2.2 33,954,000 2.1 15.5 Total commercial 1,664,745,000 92.5 1,493,516,000 92.4 11.5 Retail: Home equity and other 69,396,000 3.9 67,816,000 4.2 2.3 1-4 family mortgages 65,813,000 3.6 55,255,000 3.4 19.1 Total retail 135,209,000 7.5 123,071,000 7.6 9.9 Total originated loans $ 1,799,954,000 100.0 % $ 1,616,587,000 100.0 % 11.3 % Percent June 30, 2016 December 31, 2015 Increase Balance % Balance % (Decrease) Acquired loans Commercial: Commercial and industrial $ 97,001,000 16.7 % $ 118,431,000 17.9 % (18.1 )% Vacant land, land development, and residential construction 10,297,000 1.8 14,982,000 2.3 (31.3 ) Real estate – owner occupied 99,889,000 17.2 115,121,000 17.4 (13.2 ) Real estate – non-owner occupied 113,694,000 19.6 123,597,000 18.7 (8.0 ) Real estate – multi-family and residential rental 74,129,000 12.8 81,049,000 12.3 (8.5 ) Total commercial 395,010,000 68.1 453,180,000 68.6 (12.8 ) Retail: Home equity and other 61,671,000 10.6 72,830,000 11.0 (15.3 ) 1-4 family mortgages 123,305,000 21.3 135,130,000 20.4 (8.7 ) Total retail 184,976,000 31.9 207,960,000 31.4 (11.1 ) Total acquired loans $ 579,986,000 100.0 % $ 661,140,000 100.0 % (12.3% ) Percent June 30, 2016 December 31, 2015 Increase Balance % Balance % (Decrease) Total loans Commercial: Commercial and industrial $ 750,136,000 31.5 % $ 696,303,000 30.6 % 7.7 % Vacant land, land development, and residential construction 40,529,000 1.7 45,120,000 2.0 (10.2 ) Real estate – owner occupied 438,798,000 18.4 445,919,000 19.6 (1.6 ) Real estate – non-owner occupied 716,930,000 30.1 644,351,000 28.3 11.3 Real estate – multi-family and residential rental 113,362,000 4.8 115,003,000 5.0 (1.4 ) Total commercial 2,059,755,000 86.5 1,946,696,000 85.5 5.8 Retail: Home equity and other 131,067,000 5.5 140,646,000 6.2 (6.8 ) 1-4 family mortgages 189,118,000 8.0 190,385,000 8.3 (0.7 ) Total retail 320,185,000 13.5 331,031,000 14.5 (3.3 ) Total loans $ 2,379,940,000 100.0 % $ 2,277,727,000 100.0 % 4.5 % |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Accretable Yield Movement [Table Text Block] | Balance at March 31, 2016 $ 6,319,000 Additions 0 Accretion income (674,000 ) Net reclassification from nonaccretable to accretable 1,193,000 Reductions (1) (236,000 ) Balance at June 30, 2016 $ 6,602,000 Balance at December 31, 2015 $ 5,193,000 Additions 21,000 Accretion income (1,354,000 ) Net reclassification from nonaccretable to accretable 3,565,000 Reductions (1) (823,000 ) Balance at June 30, 2016 $ 6,602,000 Balance at March 31, 2015 $ 5,241,000 Additions 0 Accretion income (681,000 ) Net reclassification from nonaccretable to accretable 708,000 Reductions (1) (153,000 ) Balance at June 30, 2015 $ 5,115,000 Balance at December 31, 2014 $ 4,998,000 Additions 0 Accretion income (1,327,000 ) Net reclassification from nonaccretable to accretable 1,649,000 Reductions (1) (205,000 ) Balance at June 30, 2015 $ 5,115,000 |
Schedule of Financing Receivables, Non Accrual Status [Table Text Block] | June 30, 2016 December 31, 2015 Loans past due 90 days or more still accruing interest $ 0 $ 0 Nonaccrual loans 2,042,000 1,954,000 Total nonperforming originated loans $ 2,042,000 $ 1,954,000 June 30, 2016 December 31, 2015 Loans past due 90 days or more still accruing interest $ 0 $ 5,000 Nonaccrual loans 3,126,000 3,485,000 Total nonperforming acquired loans $ 3,126,000 $ 3,490,000 June 30, 2016 December 31, 2015 Commercial: Commercial and industrial $ 819,000 $ 458,000 Vacant land, land development, and residential construction 125,000 155,000 Real estate – owner occupied 1,465,000 1,797,000 Real estate – non-owner occupied 51,000 79,000 Real estate – multi-family and residential rental 114,000 157,000 Total commercial 2,574,000 2,646,000 Retail: Home equity and other 616,000 771,000 1-4 family mortgages 1,978,000 2,027,000 Total retail 2,594,000 2,798,000 Total nonperforming loans $ 5,168,000 $ 5,444,000 |
Past Due Financing Receivables [Table Text Block] | 30 – 59 Days Past Due 60 – 89 Days Past Due Greater Than 89 Days Past Due Total Past Due Current Total Loans Recorded Balance > 89 Days and Accruing Originated loans Commercial: Commercial and industrial $ 1,000 $ 0 $ 0 $ 1,000 $ 653,134,000 $ 653,135,000 $ 0 Vacant land, land development, and residential construction 0 0 0 0 30,232,000 30,232,000 0 Real estate – owner occupied 0 197,000 0 197,000 338,712,000 338,909,000 0 Real estate – non-owner occupied 0 0 0 0 603,236,000 603,236,000 0 Real estate – multi-family and residential rental 0 0 0 0 39,233,000 39,233,000 0 Total commercial 1,000 197,000 0 198,000 1,664,547,000 1,664,745,000 0 Retail: Home equity and other 129,000 21,000 11,000 161,000 69,235,000 69,396,000 0 1-4 family mortgages 97,000 0 403,000 500,000 65,313,000 65,813,000 0 Total retail 226,000 21,000 414,000 661,000 134,548,000 135,209,000 0 Total past due loans $ 227,000 $ 218,000 $ 414,000 $ 859,000 $ 1,799,095,000 $ 1,799,954,000 $ 0 30 – 59 Days Past Due 60 – 89 Days Past Due Greater Than 89 Days Past Due Total Past Due Current Total Loans Recorded Balance > 89 Days and Accruing Acquired loans Commercial: Commercial and industrial $ 14,000 $ 0 $ 350,000 $ 364,000 $ 96,637,000 $ 97,001,000 $ 0 Vacant land, land development, and residential construction 29,000 0 0 29,000 10,268,000 10,297,000 0 Real estate – owner occupied 243,000 50,000 398,000 691,000 99,198,000 99,889,000 0 Real estate – non-owner occupied 159,000 0 419,000 578,000 113,116,000 113,694,000 0 Real estate – multi-family and residential rental 164,000 42,000 80,000 286,000 73,843,000 74,129,000 0 Total commercial 609,000 92,000 1,247,000 1,948,000 393,062,000 395,010,000 0 Retail: Home equity and other 568,000 43,000 11,000 622,000 61,049,000 61,671,000 0 1-4 family mortgages 1,188,000 261,000 344,000 1,793,000 121,512,000 123,305,000 0 Total retail 1,756,000 304,000 355,000 2,415,000 182,561,000 184,976,000 0 Total past due loans $ 2,365,000 $ 396,000 $ 1,602,000 $ 4,363,000 $ 575,623,000 $ 579,986,000 $ 0 30 – 59 Days Past Due 60 – 89 Days Past Due Greater Than 89 Days Past Due Total Past Due Current Total Loans Recorded Balance > 89 Days and Accruing Originated loans Commercial: Commercial and industrial $ 0 $ 0 $ 0 $ 0 $ 577,872,000 $ 577,872,000 $ 0 Vacant land, land development, and residential construction 0 0 0 0 30,138,000 30,138,000 0 Real estate – owner occupied 432,000 0 9,000 441,000 330,357,000 330,798,000 0 Real estate – non-owner occupied 0 0 0 0 520,754,000 520,754,000 0 Real estate – multi-family and residential rental 0 0 0 0 33,954,000 33,954,000 0 Total commercial 432,000 0 9,000 441,000 1,493,075,000 1,493,516,000 0 Retail: Home equity and other 186,000 108,000 0 294,000 67,522,000 67,816,000 0 1-4 family mortgages 107,000 95,000 356,000 558,000 54,697,000 55,255,000 0 Total retail 293,000 203,000 356,000 852,000 122,219,000 123,071,000 0 Total past due loans $ 725,000 $ 203,000 $ 365,000 $ 1,293,000 $ 1,615,294,000 $ 1,616,587,000 $ 0 30 – 59 Days Past Due 60 – 89 Days Past Due Greater Than 89 Days Past Due Total Past Due Current Total Loans Recorded Balance > 89 Days and Accruing Acquired Loans Commercial: Commercial and industrial $ 0 $ 5,000 $ 541,000 $ 546,000 $ 117,885,000 $ 118,431,000 $ 0 Vacant land, land development, and residential construction 27,000 0 0 27,000 14,955,000 14,982,000 0 Real estate – owner occupied 323,000 425,000 1,142,000 1,890,000 113,231,000 115,121,000 0 Real estate – non-owner occupied 53,000 703,000 79,000 835,000 122,762,000 123,597,000 0 Real estate – multi-family and residential rental 223,000 54,000 0 277,000 80,772,000 81,049,000 0 Total commercial 626,000 1,187,000 1,762,000 3,575,000 449,605,000 453,180,000 0 Retail: Home equity and other 395,000 44,000 28,000 467,000 72,363,000 72,830,000 5,000 1-4 family mortgages 960,000 354,000 416,000 1,730,000 133,400,000 135,130,000 0 Total retail 1,355,000 398,000 444,000 2,197,000 205,763,000 207,960,000 5,000 Total past due loans $ 1,981,000 $ 1,585,000 $ 2,206,000 $ 5,772,000 $ 655,368,000 $ 661,140,000 $ 5,000 |
Impaired Financing Receivables [Table Text Block] | Unpaid Contractual Principal Balance Recorded Principal Balance Related Allowance Second Quarter Average Recorded Principal Balance Year-To-Date Average Recorded Principal Balance With no related allowance recorded Commercial: Commercial and industrial $ 2,147,000 $ 2,146,000 $ 2,017,000 $ 1,845,000 Vacant land, land development and residential construction 0 0 0 0 Real estate – owner occupied 348,000 251,000 160,000 275,000 Real estate – non-owner occupied 5,623,000 5,623,000 5,641,000 5,660,000 Real estate – multi-family and residential rental 0 0 0 0 Total commercial 8,118,000 8,020,000 7,818,000 7,780,000 Retail: Home equity and other 129,000 120,000 65,000 45,000 1-4 family mortgages 1,324,000 668,000 621,000 633,000 Total retail 1,453,000 788,000 686,000 678,000 Total with no related allowance recorded $ 9,571,000 $ 8,808,000 $ 8,504,000 $ 8,458,000 Unpaid Contractual Principal Balance Recorded Principal Balance Related Allowance Second Quarter Average Recorded Principal Balance Year-To-Date Average Recorded Principal Balance With an allowance recorded Commercial: Commercial and industrial $ 249,000 $ 199,000 $ 47,000 $ 217,000 $ 246,000 Vacant land, land development and residential construction 2,002,000 1,625,000 72,000 1,633,000 1,640,000 Real estate – owner occupied 5,930,000 1,378,000 235,000 1,339,000 1,331,000 Real estate – non-owner occupied 4,704,000 4,704,000 180,000 4,729,000 4,766,000 Real estate – multi-family and residential rental 979,000 979,000 293,000 993,000 1,004,000 Total commercial 13,864,000 8,885,000 827,000 8,911,000 8,987,000 Retail: Home equity and other 550,000 512,000 137,000 491,000 515,000 1-4 family mortgages 205,000 163,000 72,000 145,000 139,000 Total retail 755,000 675,000 209,000 636,000 654,000 Total with an allowance recorded $ 14,619,000 $ 9,560,000 $ 1,036,000 $ 9,547,000 $ 9,641,000 Total impaired loans: Commercial $ 21,982,000 $ 16,905,000 $ 827,000 $ 16,729,000 $ 16,767,000 Retail 2,208,000 1,463,000 209,000 1,322,000 1,332,000 Total impaired loans $ 24,190,000 $ 18,368,000 $ 1,036,000 $ 18,051,000 $ 18,099,000 Unpaid Contractual Principal Balance Recorded Principal Balance Related Allowance Second Quarter Average Recorded Principal Balance Year-To-Date Average Recorded Principal Balance With no related allowance recorded Commercial: Commercial and industrial $ 1,694,000 $ 1,681,000 $ 1,556,000 $ 1,535,000 Vacant land, land development and residential construction 0 0 0 0 Real estate – owner occupied 1,314,000 1,300,000 1,485,000 1,640,000 Real estate – non-owner occupied 811,000 811,000 792,000 821,000 Real estate – multi-family and residential rental 295,000 295,000 289,000 327,000 Total commercial 4,114,000 4,087,000 4,122,000 4,323,000 Retail: Home equity and other 367,000 365,000 321,000 317,000 1-4 family mortgages 1,305,000 1,305,000 1,290,000 1,376,000 Total retail 1,672,000 1,670,000 1,611,000 1,693,000 Total with no related allowance recorded $ 5,786,000 $ 5,757,000 $ 5,733,000 $ 6,016,000 Unpaid Contractual Principal Balance Recorded Principal Balance Related Allowance Second Quarter Average Recorded Principal Balance Year-To-Date Average Recorded Principal Balance With an allowance recorded Commercial: Commercial and industrial $ 356,000 $ 356,000 $ 101,000 $ 367,000 $ 370,000 Vacant land, land development and residential construction 0 0 0 0 0 Real estate – owner occupied 49,000 49,000 4,000 50,000 50,000 Real estate – non-owner occupied 0 0 0 0 0 Real estate – multi-family and residential rental 20,000 20,000 1,000 20,000 21,000 Total commercial 425,000 425,000 106,000 437,000 441,000 Retail: Home equity and other 0 0 0 0 0 1-4 family mortgages 174,000 174,000 5,000 87,000 116,000 Total retail 174,000 174,000 5,000 87,000 116,000 Total with an allowance recorded $ 599,000 $ 599,000 $ 111,000 $ 524,000 $ 557,000 Total impaired loans: Commercial $ 4,539,000 $ 4,512,000 $ 106,000 $ 4,559,000 $ 4,764,000 Retail 1,846,000 1,844,000 5,000 1,698,000 1,809,000 Total impaired loans $ 6,385,000 $ 6,356,000 $ 111,000 $ 6,257,000 $ 6,573,000 Unpaid Contractual Principal Balance Recorded Principal Balance Related Allowance Second Quarter Average Recorded Principal Balance Year-To-Date Average Recorded Principal Balance With no related allowance recorded Commercial: Commercial and industrial $ 1,509,000 $ 1,501,000 $ 1,930,000 $ 1,674,000 Vacant land, land development and residential construction 0 0 98,000 135,000 Real estate – owner occupied 712,000 505,000 1,062,000 1,342,000 Real estate – non-owner occupied 5,696,000 5,696,000 2,937,000 2,362,000 Real estate – multi-family and residential rental 0 0 306,000 309,000 Total commercial 7,917,000 7,702,000 6,333,000 5,822,000 Retail: Home equity and other 14,000 5,000 189,000 190,000 1-4 family mortgages 1,328,000 657,000 615,000 597,000 Total retail 1,342,000 662,000 804,000 787,000 Total with no related allowance recorded $ 9,259,000 $ 8,364,000 $ 7,137,000 $ 6,609,000 Unpaid Contractual Principal Balance Recorded Principal Balance Related Allowance Second Quarter Average Recorded Principal Balance Year-To-Date Average Recorded Principal Balance With an allowance recorded Commercial: Commercial and industrial $ 352,000 $ 305,000 $ 165,000 $ 2,812,000 $ 3,617,000 Vacant land, land development and residential construction 2,017,000 1,655,000 245,000 2,092,000 2,061,000 Real estate – owner occupied 5,867,000 1,314,000 242,000 8,806,000 11,095,000 Real estate – non-owner occupied 4,841,000 4,841,000 201,000 10,319,000 12,195,000 Real estate – multi-family and residential rental 1,028,000 1,028,000 365,000 1,321,000 1,338,000 Total commercial 14,105,000 9,143,000 1,218,000 25,350,000 30,306,000 Retail: Home equity and other 600,000 562,000 209,000 165,000 138,000 1-4 family mortgages 165,000 128,000 47,000 217,000 811,000 Total retail 765,000 690,000 256,000 382,000 949,000 Total with an allowance recorded $ 14,870,000 $ 9,833,000 $ 1,474,000 $ 25,732,000 $ 31,255,000 Total impaired loans: Commercial $ 22,022,000 $ 16,845,000 $ 1,218,000 $ 31,683,000 $ 36,128,000 Retail 2,107,000 1,352,000 256,000 1,186,000 1,736,000 Total impaired loans $ 24,129,000 $ 18,197,000 $ 1,474,000 $ 32,869,000 $ 37,864,000 Unpaid Contractual Principal Balance Recorded Principal Balance Related Allowance Second Quarter Average Recorded Principal Balance Year-To-Date Average Recorded Principal Balance With no related allowance recorded Commercial: Commercial and industrial $ 1,528,000 $ 1,494,000 $ 1,244,000 $ 1,356,000 Vacant land, land development and residential construction 0 0 0 0 Real estate – owner occupied 2,233,000 1,952,000 317,000 249,000 Real estate – non-owner occupied 880,000 880,000 427,000 393,000 Real estate – multi-family and residential rental 452,000 404,000 2,037,000 1,520,000 Total commercial 5,093,000 4,730,000 4,025,000 3,518,000 Retail: Home equity and other 471,000 310,000 365,000 456,000 1-4 family mortgages 1,804,000 1,548,000 801,000 823,000 Total retail 2,275,000 1,858,000 1,166,000 1,279,000 Total with no related allowance recorded $ 7,368,000 $ 6,588,000 $ 5,191,000 $ 4,797,000 Unpaid Contractual Principal Balance Recorded Principal Balance Related Allowance Second Quarter Average Recorded Principal Balance Year-To-Date Average Recorded Principal Balance With an allowance recorded Commercial: Commercial and industrial $ 383,000 $ 376,000 $ 102,000 $ 97,000 $ 65,000 Vacant land, land development and residential construction 0 0 0 0 0 Real estate – owner occupied 51,000 51,000 4,000 1,256,000 1,338,000 Real estate – non-owner occupied 0 0 0 0 0 Real estate – multi-family and residential rental 23,000 23,000 0 28,000 19,000 Total commercial 457,000 450,000 106,000 1,381,000 1,422,000 Retail: Home equity and other 0 0 0 0 0 1-4 family mortgages 175,000 175,000 6,000 283,000 189,000 Total retail 175,000 175,000 6,000 283,000 189,000 Total with an allowance recorded $ 632,000 $ 625,000 $ 112,000 $ 1,664,000 $ 1,611,000 Total impaired loans: Commercial $ 5,550,000 $ 5,180,000 $ 106,000 $ 5,406,000 $ 4,940,000 Retail 2,450,000 2,033,000 6,000 1,449,000 1,468,000 Total impaired loans $ 8,000,000 $ 7,213,000 $ 112,000 $ 6,855,000 $ 6,408,000 |
Financing Receivable Credit Quality Indicators [Table Text Block] | Commercial and Industrial Commercial Vacant Land, Land Development, and Residential Construction Commercial Real Estate - Owner Occupied Commercial Real Estate - Non-Owner Occupied Commercial Real Estate - Multi-Family and Residential Rental Internal credit risk grade groupings: Grades 1 – 4 $ 455,134,000 $ 19,014,000 $ 237,652,000 $ 491,928,000 $ 20,438,000 Grades 5 – 7 197,701,000 11,093,000 99,961,000 111,308,000 17,816,000 Grades 8 – 9 300,000 125,000 1,296,000 0 979,000 Total commercial $ 653,135,000 $ 30,232,000 $ 338,909,000 $ 603,236,000 $ 39,233,000 Commercial and Industrial Commercial Vacant Land, Land Development, and Residential Construction Commercial Real Estate - Owner Occupied Commercial Real Estate - Non-Owner Occupied Commercial Real Estate - Multi-Family and Residential Rental Internal credit risk grade groupings: Grades 1 – 4 $ 50,716,000 $ 2,322,000 $ 41,217,000 $ 70,569,000 $ 42,729,000 Grades 5 – 7 43,819,000 7,648,000 55,364,000 41,431,000 30,692,000 Grades 8 – 9 2,466,000 327,000 3,308,000 1,694,000 708,000 Total commercial $ 97,001,000 $ 10,297,000 $ 99,889,000 $ 113,694,000 $ 74,129,000 Commercial and Industrial Commercial Vacant Land, Land Development, and Residential Construction Commercial Real Estate - Owner Occupied Commercial Real Estate - Non-Owner Occupied Commercial Real Estate - Multi-Family and Residential Rental Internal credit risk grade groupings: Grades 1 – 4 $ 417,120,000 $ 18,118,000 $ 230,629,000 $ 400,350,000 $ 19,121,000 Grades 5 – 7 160,454,000 10,365,000 98,332,000 120,404,000 13,806,000 Grades 8 – 9 298,000 1,655,000 1,837,000 0 1,027,000 Total commercial $ 577,872,000 $ 30,138,000 $ 330,798,000 $ 520,754,000 $ 33,954,000 Commercial and Industrial Commercial Vacant Land, Land Development, and Residential Construction Commercial Real Estate - Owner Occupied Commercial Real Estate - Non-Owner Occupied Commercial Real Estate - Multi-Family and Residential Rental Internal credit risk grade groupings: Grades 1 – 4 $ 67,978,000 $ 3,095,000 $ 45,807,000 $ 71,197,000 $ 44,763,000 Grades 5 – 7 47,589,000 11,364,000 63,563,000 50,066,000 35,288,000 Grades 8 – 9 2,864,000 523,000 5,751,000 2,334,000 998,000 Total commercial $ 118,431,000 $ 14,982,000 $ 115,121,000 $ 123,597,000 $ 81,049,000 |
Allowance for Credit Losses on Financing Receivables [Table Text Block] | Commercial Loans Retail Loans Unallocated Total Allowance for loan losses: Balance at March 31, 2016 $ 13,924,000 $ 1,834,000 $ 214,000 $ 15,972,000 Provision for loan losses 842,000 296,000 20,000 1,158,000 Charge-offs (166,000 ) (231,000 ) 0 (397,000 ) Recoveries 129,000 14,000 0 143,000 Ending balance $ 14,729,000 $ 1,913,000 $ 234,000 $ 16,876,000 Allowance for loan losses: Balance at December 31, 2015 $ 13,672,000 $ 1,421,000 $ 140,000 $ 15,233,000 Provision for loan losses 936,000 799,000 94,000 1,829,000 Charge-offs (255,000 ) (617,000 ) 0 (872,000 ) Recoveries 376,000 310,000 0 686,000 Ending balance $ 14,729,000 $ 1,913,000 $ 234,000 $ 16,876,000 Ending balance: individually evaluated for impairment $ 827,000 $ 209,000 $ 0 $ 1,036,000 Ending balance: collectively evaluated for impairment $ 13,902,000 $ 1,704,000 $ 234,000 $ 15,840,000 Total loans: Ending balance $ 1,664,745,000 $ 135,209,000 $ 1,799,954,000 Ending balance: individually evaluated for impairment $ 16,905,000 $ 1,463,000 $ 18,368,000 Ending balance: collectively evaluated for impairment $ 1,647,840,000 $ 133,746,000 $ 1,781,586,000 Commercial Loans Retail Loans Unallocated Total Allowance for loan losses: Balance at March 31, 2016 $ 266,000 $ 24,000 $ 0 $ 290,000 Provision for loan losses (57,000 ) (1,000 ) 0 (58,000 ) Charge-offs 0 0 0 0 Recoveries 2,000 0 0 2,000 Ending balance $ 211,000 $ 23,000 $ 0 $ 234,000 Allowance for loan losses: Balance at December 31, 2015 $ 420,000 $ 28,000 $ 0 $ 448,000 Provision for loan losses (167,000 ) 38,000 0 (129,000 ) Charge-offs 0 0 0 0 Recoveries (42,000 ) (43,000 ) 0 (85,000 ) Ending balance $ 211,000 $ 23,000 $ 0 $ 234,000 Commercial Loans Retail Loans Unallocated Total Allowance for loan losses: Balance at March 31, 2015 $ 18,977,000 $ 1,235,000 $ 39,000 $ 20,251,000 Provision for loan losses (1,151,000 ) 513,000 (5,000 ) (643,000 ) Charge-offs (4,199,000 ) (154,000 ) 0 (4,353,000 ) Recoveries 365,000 120,000 0 485,000 Ending balance $ 13,992,000 $ 1,714,000 $ 34,000 $ 15,740,000 Allowance for loan losses: Balance at December 31, 2014 $ 17,736,000 $ 1,487,000 $ 76,000 $ 19,299,000 Provision for loan losses (1,651,000 ) 592,000 (42,000 ) (1,101,000 ) Charge-offs (4,277,000 ) (517,000 ) 0 (4,794,000 ) Recoveries 2,184,000 152,000 0 2,336,000 Ending balance $ 13,992,000 $ 1,714,000 $ 34,000 $ 15,740,000 Ending balance: individually evaluated for impairment $ 2,146,000 $ 178,000 $ 0 $ 2,324,000 Ending balance: collectively evaluated for impairment $ 11,846,000 $ 1,536,000 $ 34,000 $ 13,416,000 Total loans: Ending balance $ 1,322,388,000 $ 107,235,000 $ 1,429,623,000 Ending balance: individually evaluated for impairment $ 19,108,000 $ 1,180,000 $ 20,288,000 Ending balance: collectively evaluated for impairment $ 1,303,280,000 $ 106,055,000 $ 1,409,335,000 Commercial Loans Retail Loans Unallocated Total Allowance for loan losses: Balance at March 31, 2015 $ 622,000 $ 177,000 $ 0 $ 799,000 Provision for loan losses (31,000 ) 74,000 0 43,000 Charge-offs (30,000 ) 0 0 (30,000 ) Recoveries 0 9,000 0 9,000 Ending balance $ 561,000 $ 260,000 $ 0 $ 821,000 Allowance for loan losses: Balance at December 31, 2014 $ 681,000 $ 61,000 $ 0 $ 742,000 Provision for loan losses (90,000 ) 191,000 0 101,000 Charge-offs (31,000 ) (7,000 ) 0 (38,000 ) Recoveries 1,000 15,000 0 16,000 Ending balance $ 561,000 $ 260,000 $ 0 $ 821,000 |
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | Number of Contracts Pre- Modification Recorded Principal Balance Post- Modification Recorded Principal Balance Originated loans Commercial: Commercial and industrial 0 $ 0 $ 0 Vacant land, land development and residential construction 0 0 0 Real estate – owner occupied 1 167,000 167,000 Real estate – non-owner occupied 0 0 0 Real estate – multi-family and residential rental 0 0 0 Total originated commercial 1 167,000 167,000 Retail: Home equity and other 2 184,000 184,000 1-4 family mortgages 1 33,000 40,000 Total originated retail 3 217,000 224,000 Total originated loans 4 $ 384,000 $ 391,000 Acquired loans Commercial: Commercial and industrial 0 $ 0 $ 0 Vacant land, land development and residential construction 0 0 0 Real estate – owner occupied 0 0 0 Real estate – non-owner occupied 1 60,000 60,000 Real estate – multi-family and residential rental 1 7,000 7,000 Total acquired commercial 2 67,000 67,000 Retail: Home equity and other 1 25,000 25,000 1-4 family mortgages 0 0 0 Total acquired retail 1 25,000 25,000 Total acquired loans 3 $ 92,000 $ 92,000 Number of Contracts Pre- Modification Recorded Principal Balance Post- Modification Recorded Principal Balance Originated loans Commercial: Commercial and industrial 1 $ 20,000 $ 20,000 Vacant land, land development and residential construction 0 0 0 Real estate – owner occupied 1 167,000 167,000 Real estate – non-owner occupied 0 0 0 Real estate – multi-family and residential rental 0 0 0 Total originated commercial 2 187,000 187,000 Retail: Home equity and other 2 184,000 184,000 1-4 family mortgages 1 33,000 40,000 Total originated retail 3 217,000 224,000 Total originated loans 5 $ 404,000 $ 411,000 Acquired loans Commercial: Commercial and industrial 0 $ 0 $ 0 Vacant land, land development and residential construction 0 0 0 Real estate – owner occupied 0 0 0 Real estate – non-owner occupied 1 60,000 60,000 Real estate – multi-family and residential rental 1 7,000 7,000 Total acquired commercial 2 67,000 67,000 Retail: Home equity and other 2 51,000 51,000 1-4 family mortgages 1 19,000 19,000 Total acquired retail 3 70,000 70,000 Total acquired loans 5 $ 137,000 $ 137,000 Number of Contracts Pre- Modification Recorded Principal Balance Post- Modification Recorded Principal Balance Originated loans Commercial: Commercial and industrial 4 $ 1,308,000 $ 1,308,000 Vacant land, land development and residential construction 0 0 0 Real estate – owner occupied 0 0 0 Real estate – non-owner occupied 0 0 0 Real estate – multi-family and residential rental 0 0 0 Total originated commercial 4 1,308,000 1,308,000 Retail: Home equity and other 0 0 0 1-4 family mortgages 0 0 0 Total originated retail 0 0 0 Total originated loans 4 $ 1,308,000 $ 1,308,000 Acquired loans Commercial: Commercial and industrial 2 $ 286,000 $ 286,000 Vacant land, land development and residential construction 0 0 0 Real estate – owner occupied 3 119,000 119,000 Real estate – non-owner occupied 1 302,000 302,000 Real estate – multi-family and residential rental 3 265,000 265,000 Total acquired commercial 9 972,000 972,000 Retail: Home equity and other 1 161,000 161,000 1-4 family mortgages 0 0 0 Total acquired retail 1 161,000 161,000 Total acquired loans 10 $ 1,133,000 $ 1,133,000 Number of Contracts Pre- Modification Recorded Principal Balance Post- Modification Recorded Principal Balance Originated loans Commercial: Commercial and industrial 10 $ 1,876,000 $ 1,901,000 Vacant land, land development and residential construction 0 0 0 Real estate – owner occupied 0 0 0 Real estate – non-owner occupied 0 0 0 Real estate – multi-family and residential rental 0 0 0 Total originated commercial 10 1,876,000 1,901,000 Retail: Home equity and other 0 0 0 1-4 family mortgages 0 0 0 Total originated retail 0 0 0 Total originated loans 10 $ 1,876,000 $ 1,901,000 Acquired loans Commercial: Commercial and industrial 2 $ 286,000 $ 286,000 Vacant land, land development and residential construction 0 0 0 Real estate – owner occupied 5 169,000 169,000 Real estate – non-owner occupied 1 302,000 302,000 Real estate – multi-family and residential rental 3 265,000 265,000 Total acquired commercial 11 1,022,000 1,022,000 Retail: Home equity and other 1 161,000 161,000 1-4 family mortgages 0 0 0 Total acquired retail 1 161,000 161,000 Total acquired loans 12 $ 1,183,000 $ 1,183,000 |
Troubled Debt Restructurings on Financing Receivables with in Previous Twelve Months that Became Over Thirty Days Past Due [Table Text Block] | Number of Contracts Recorded Principal Balance Commercial: Commercial and industrial 0 $ 0 Vacant land, land development and residential construction 0 0 Real estate – owner occupied 0 0 Real estate – non-owner occupied 0 0 Real estate – multi-family and residential rental 0 0 Total commercial 0 0 Retail: Home equity and other 0 0 1-4 family mortgages 0 0 Total retail 0 0 Total 0 $ 0 Number of Contracts Recorded Principal Balance Commercial: Commercial and industrial 0 $ 0 Vacant land, land development and residential construction 0 0 Real estate – owner occupied 0 0 Real estate – non-owner occupied 0 0 Real estate – multi-family and residential rental 0 0 Total commercial 0 0 Retail: Home equity and other 0 0 1-4 family mortgages 0 0 Total retail 0 0 Total 0 $ 0 Number of Contracts Recorded Principal Balance Commercial: Commercial and industrial 0 $ 0 Vacant land, land development and residential construction 0 0 Real estate – owner occupied 0 0 Real estate – non-owner occupied 0 0 Real estate – multi-family and residential rental 1 22,000 Total commercial 1 22,000 Retail: Home equity and other 0 0 1-4 family mortgages 0 0 Total retail 0 0 Total 1 $ 22,000 Number of Contracts Recorded Principal Balance Commercial: Commercial and industrial 0 $ 0 Vacant land, land development and residential construction 0 0 Real estate – owner occupied 0 0 Real estate – non-owner occupied 0 0 Real estate – multi-family and residential rental 1 22,000 Total commercial 1 22,000 Retail: Home equity and other 0 0 1-4 family mortgages 0 0 Total retail 0 0 Total 1 $ 22,000 Number of Contracts Recorded Principal Balance Commercial: Commercial and industrial 0 $ 0 Vacant land, land development and residential construction 0 0 Real estate – owner occupied 1 1,182,000 Real estate – non-owner occupied 0 0 Real estate – multi-family and residential rental 0 0 Total commercial 1 1,182,000 Retail: Home equity and other 0 0 1-4 family mortgages 0 0 Total retail 0 0 Total 1 $ 1,182,000 Number of Contracts Recorded Principal Balance Commercial: Commercial and industrial 0 $ 0 Vacant land, land development and residential construction 0 0 Real estate – owner occupied 1 1,182,000 Real estate – non-owner occupied 0 0 Real estate – multi-family and residential rental 0 0 Total commercial 1 1,182,000 Retail: Home equity and other 0 0 1-4 family mortgages 0 0 Total retail 0 0 Total 1 $ 1,182,000 Number of Contracts Recorded Principal Balance Commercial: Commercial and industrial 0 $ 0 Vacant land, land development and residential construction 0 0 Real estate – owner occupied 1 18,000 Real estate – non-owner occupied 0 0 Real estate – multi-family and residential rental 0 0 Total commercial 1 18,000 Retail: Home equity and other 0 0 1-4 family mortgages 0 0 Total retail 0 0 Total 1 $ 18,000 Number of Contracts Recorded Principal Balance Commercial: Commercial and industrial 0 $ 0 Vacant land, land development and residential construction 0 0 Real estate – owner occupied 1 18,000 Real estate – non-owner occupied 0 0 Real estate – multi-family and residential rental 0 0 Total commercial 1 18,000 Retail: Home equity and other 0 0 1-4 family mortgages 0 0 Total retail 0 0 Total 1 $ 18,000 |
Trouble Debt Restructuring Activity [Table Text Block] | Commercial and Industrial Commercial Vacant Land, Land Development, and Residential Construction Commercial Real Estate - Owner Occupied Commercial Real Estate - Occupied Commercial Real Estate - Multi-Family and Residential Rental Commercial Loan Portfolio: Beginning Balance $ 1,946,000 $ 2,062,000 $ 1,369,000 $ 10,529,000 $ 469,000 Charge-Offs 0 0 0 0 0 Payments 0 (26,000 ) (35,000 ) (94,000 ) (8,000 ) Transfers to ORE 0 0 0 0 0 Net Additions/Deletions 157,000 0 97,000 0 0 Ending Balance $ 2,103,000 $ 2,036,000 $ 1,431,000 $ 10,435,000 $ 461,000 Retail Home Equity and Other Retail 1-4 Family Mortgages Retail Loan Portfolio: Beginning Balance $ 146,000 $ 126,000 Charge-Offs 0 0 Payments (1,000 ) (3,000 ) Transfers to ORE 0 0 Net Additions/Deletions 184,000 40,000 Ending Balance $ 329,000 $ 163,000 Commercial and Industrial Commercial Vacant Land, Land Development, and Residential Construction Commercial Real Estate - Owner Occupied Commercial Real Estate - Non-Owner Occupied Commercial Real Estate - Multi-Family and Residential Rental Commercial Loan Portfolio: Beginning Balance $ 1,687,000 $ 0 $ 1,455,000 $ 637,000 $ 278,000 Charge-Offs 0 0 0 0 0 Payments (43,000 ) 0 (172,000 ) (12,000 ) (11,000 ) Transfers to ORE 0 0 0 0 0 Net Additions/Deletions 0 0 0 56,000 7,000 Ending Balance $ 1,644,000 $ 0 $ 1,283,000 $ 681,000 $ 274,000 Retail Home Equity and Other Retail Mortgages Retail Loan Portfolio: Beginning Balance $ 161,000 $ 335,000 Charge-Offs 0 0 Payments (7,000 ) (2,000 ) Transfers to ORE 0 0 Net Additions/Deletions 26,000 0 Ending Balance $ 180,000 $ 333,000 Commercial and Industrial Commercial Vacant Land, Land Development, and Residential Construction Commercial Real Estate - Owner Occupied Commercial Real Estate - Non-Owner Occupied Commercial Real Estate - Multi-Family and Residential Rental Commercial Loan Portfolio: Beginning Balance $ 2,028,000 $ 2,086,000 $ 1,400,000 $ 10,657,000 $ 476,000 Charge-Offs 0 0 0 0 0 Payments (101,000 ) (50,000 ) (66,000 ) (222,000 ) (15,000 ) Transfers to ORE 0 0 0 0 0 Net Additions/Deletions 176,000 0 97,000 0 0 Ending Balance $ 2,103,000 $ 2,036,000 $ 1,431,000 $ 10,435,000 $ 461,000 Retail Home Equity and Other Retail 1-4 Family Mortgages Retail Loan Portfolio: Beginning Balance $ 146,000 $ 128,000 Charge-Offs 0 0 Payments (1,000 ) (5,000 ) Transfers to ORE 0 0 Net Additions/Deletions 184,000 40,000 Ending Balance $ 329,000 $ 163,000 Commercial and Industrial Commercial Vacant Land, and Residential Construction Commercial Real Estate - Owner Occupied Commercial Real Estate - Non-Owner Occupied Commercial Real Estate - and Residential Rental Commercial Loan Portfolio: Beginning Balance $ 1,686,000 $ 0 $ 1,652,000 $ 647,000 $ 331,000 Charge-Offs (48,000 ) 0 0 0 0 Payments (43,000 ) 0 (369,000 ) (22,000 ) (64,000 ) Transfers to ORE 0 0 0 0 0 Net Additions/Deletions 49,000 0 0 56,000 7,000 Ending Balance $ 1,644,000 $ 0 $ 1,283,000 $ 681,000 $ 274,000 Retail Home Equity and Other Retail 1-4 Family Mortgages Retail Loan Portfolio: Beginning Balance $ 141,000 $ 316,000 Charge-Offs 0 0 Payments (14,000 ) (3,000 ) Transfers to ORE 0 0 Net Additions/Deletions 53,000 20,000 Ending Balance $ 180,000 $ 333,000 Commercial and Industrial Commercial Vacant Land, and Residential Construction Commercial Real Estate - Owner Occupied Commercial Real Estate - Non-Owner Occupied Commercial Real Estate - and Residential Rental Commercial Loan Portfolio: Beginning Balance $ 6,556,000 $ 2,654,000 $ 16,966,000 $ 16,063,000 $ 498,000 Charge-Offs 0 0 (4,198,000 ) 0 0 Payments (5,380,000 ) (22,000 ) (10,550,000 ) (4,981,000 ) (7,000 ) Transfers to ORE 0 0 0 0 0 Net Additions/Deletions 1,266,000 0 0 0 0 Ending Balance $ 2,442,000 $ 2,632,000 $ 2,218,000 $ 11,082,000 $ 491,000 Retail Home Equity and Other Retail Mortgages Retail Loan Portfolio: Beginning Balance $ 0 $ 302,000 Charge-Offs 0 (23,000 ) Payments 0 (9,000 ) Transfers to ORE 0 0 Net Additions/Deletions 0 0 Ending Balance $ 0 $ 270,000 Commercial and Industrial Commercial Vacant Land, and Residential Construction Commercial Real Estate - Owner Occupied Commercial Real Estate - Non-Owner Occupied Commercial Real Estate - and Residential Rental Commercial Loan Portfolio: Beginning Balance $ 1,519,000 $ 0 $ 1,492,000 $ 62,000 $ 333,000 Charge-Offs 0 0 (31,000 ) 0 0 Payments (275,000 ) 0 (292,000 ) 0 (6,000 ) Transfers to ORE 0 0 0 0 0 Net Additions/Deletions 277,000 0 181,000 299,000 253,000 Ending Balance $ 1,521,000 $ 0 $ 1,350,000 $ 361,000 $ 580,000 Retail Home Equity and Other Retail Mortgages Retail Loan Portfolio: Beginning Balance $ 0 $ 177,000 Charge-Offs 0 0 Payments 0 0 Transfers to ORE 0 0 Net Additions/Deletions 152,000 0 Ending Balance $ 152,000 $ 177,000 Commercial and Industrial Commercial Vacant Land, and Residential Construction Commercial Real Estate - Owner Occupied Commercial Real Estate - Non-Owner Occupied Commercial Real Estate - and Residential Rental Commercial Loan Portfolio: Beginning Balance $ 7,026,000 $ 2,680,000 $ 17,160,000 $ 17,439,000 $ 505,000 Charge-Offs 0 0 (4,198,000 ) 0 0 Payments (6,535,000 ) (48,000 ) (10,744,000 ) (6,357,000 ) (14,000 ) Transfers to ORE 0 0 0 0 0 Net Additions/Deletions 1,951,000 0 0 0 0 Ending Balance $ 2,442,000 $ 2,632,000 $ 2,218,000 $ 11,082,000 $ 491,000 Retail Home Equity and Other Retail 1-4 Family Mortgages Retail Loan Portfolio: Beginning Balance $ 0 $ 1,967,000 Charge-Offs 0 (148,000 ) Payments 0 (1,549,000 ) Transfers to ORE 0 0 Net Additions/Deletions 0 0 Ending Balance $ 0 $ 270,000 Commercial and Industrial Commercial Vacant Land, and Residential Construction Commercial Real Estate - Owner Occupied Commercial Real Estate - Non-Owner Occupied Commercial Real Estate - and Residential Rental Commercial Loan Portfolio: Beginning Balance $ 1,439,000 $ 0 $ 1,569,000 $ 64,000 $ 381,000 Charge-Offs 0 0 (31,000 ) 0 0 Payments (275,000 ) 0 (471,000 ) (2,000 ) (54,000 ) Transfers to ORE 0 0 0 0 0 Net Additions/Deletions 357,000 0 283,000 299,000 253,000 Ending Balance $ 1,521,000 $ 0 $ 1,350,000 $ 361,000 $ 580,000 Retail Home Equity and Other Retail 1-4 Family Mortgages Retail Loan Portfolio: Beginning Balance $ 26,000 $ 178,000 Charge-Offs 0 0 Payments (26,000 ) (1,000 ) Transfers to ORE 0 0 Net Additions/Deletions 152,000 0 Ending Balance $ 152,000 $ 177,000 |
Allowance Related to Loans Categorized as Troubled Debt Restructurings [Table Text Block] | June 30, 2016 December 31, 2015 Commercial: Commercial and industrial $ 131,000 $ 221,000 Vacant land, land development, and residential construction 43,000 186,000 Real estate – owner occupied 108,000 115,000 Real estate – non-owner occupied 180,000 201,000 Real estate – multi-family and residential rental 294,000 365,000 Total commercial 756,000 1,088,000 Retail: Home equity and other 48,000 14,000 1-4 family mortgages 5,000 6,000 Total retail 53,000 20,000 Total related allowance $ 809,000 $ 1,108,000 |
Note 4 - Premises and Equipme24
Note 4 - Premises and Equipment, Net (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | June 30, 2016 December 31, 2015 Land and improvements $ 16,438,000 $ 16,529,000 Buildings 39,422,000 39,394,000 Furniture and equipment 17,072,000 16,978,000 72,932,000 72,901,000 Less: accumulated depreciation 27,374,000 26,039,000 Premises and equipment, net $ 45,558,000 $ 46,862,000 |
Note 5 - Deposits (Tables)
Note 5 - Deposits (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Notes Tables | |
Summary of Deposits and Percentage Change in Deposits [Table Text Block] | June 30, 2016 December 31, 2015 Percent Increase Balance % Balance % (Decrease) Noninterest-bearing demand $ 733,573,000 32.2 % $ 674,568,000 29.6 % 8.7 % Interest-bearing checking 326,752,000 14.3 403,354,000 17.7 (19.0 ) Money market 305,217,000 13.4 274,395,000 12.1 11.2 Savings 341,445,000 15.0 332,794,000 14.6 2.6 Time, under $100,000 146,477,000 6.4 155,655,000 6.9 (5.9 ) Time, $100,000 and over 329,601,000 14.5 313,247,000 13.8 5.2 2,183,065,000 95.8 2,154,013,000 94.7 1.3 Out-of-area time, under $100,000 0 0.0 149,000 < 0.1 NA Out-of-area time, $100,000 and over 96,653,000 4.2 121,220,000 5.3 (20.3 ) 96,653,000 4.2 121,369,000 5.3 (20.4 ) Total deposits $ 2,279,718,000 100.0 % $ 2,275,382,000 100.0 % 0.2 % |
Note 6 - Securities Sold Unde26
Note 6 - Securities Sold Under Agreements to Repurchase (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Notes Tables | |
Schedule of Repurchase Agreements [Table Text Block] | Six Months Ended June 30, 2016 Twelve Months Ended December 31, 2015 Outstanding balance at end of period $ 136,690,000 $ 154,771,000 Average interest rate at end of period 0.14 % 0.11 % Average daily balance during the period $ 153,578,000 $ 146,826,000 Average interest rate during the period 0.12 % 0.11 % Maximum daily balance during the period $ 175,088,000 $ 168,211,000 |
Note 7 - Federal Home Loan Ba27
Note 7 - Federal Home Loan Bank of Indianapolis Advances (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Notes Tables | |
Maturities of Currently Outstanding FHLB Advances [Table Text Block] | 2016 $ 3,000,000 2017 45,000,000 2018 20,000,000 2019 20,000,000 2020 20,000,000 Thereafter 70,000,000 |
Note 8 - Commitments and Off-28
Note 8 - Commitments and Off-balance Sheet Risk (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Notes Tables | |
Summary of Contractual Amounts of Financial Instruments With Off Balance Sheet Risk [Table Text Block] | June 30, 2016 December 31, 2015 Commercial unused lines of credit $ 516,345,000 $ 522,658,000 Unused lines of credit secured by 1 – 4 family esidential properties 59,163,000 61,905,000 Credit card unused lines of credit 18,295,000 15,612,000 Other consumer unused lines of credit 6,970,000 8,583,000 Commitments to make loans 212,873,000 178,034,000 Standby letters of credit 33,206,000 34,946,000 $ 846,852,000 $ 821,738,000 |
Note 10 - Fair Values of Fina29
Note 10 - Fair Values of Financial Instruments (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Notes Tables | |
Fair Value, by Balance Sheet Grouping [Table Text Block] | Level in June 30, 2016 December 31, 2015 Fair Value Carrying Fair Carrying Values Fair Financial assets: Cash Level 1 $ 12,406 $ 12,406 $ 12,496 $ 12,496 Cash equivalents Level 2 94,577 94,577 77,395 77,395 Securities available for sale (1) 323,452 323,452 346,992 346,992 FHLBI stock (2) 8,026 8,026 7,567 7,567 Loans, net Level 3 2,359,951 2,356,483 2,260,730 2,259,710 Loans held for sale Level 2 2,879 2,879 1,316 1,316 Bank owned life insurance Level 2 66,537 66,537 58,971 58,971 Accrued interest receivable Level 2 7,268 7,268 7,836 7,836 Financial liabilities: Deposits Level 2 2,279,718 2,226,310 2,275,382 2,208,724 Repurchase agreements Level 2 136,690 136,690 154,771 154,771 FHLBI advances Level 2 178,000 180,504 68,000 68,858 Subordinated debentures Level 2 44,494 44,505 55,154 55,760 Accrued interest payable Level 2 1,517 1,517 1,479 1,479 Interest rate swap (1) 278 278 253 253 |
Note 11 - Fair Values (Tables)
Note 11 - Fair Values (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Available for sale securities U.S. Government agency debt obligations $ 132,942,000 $ 0 $ 132,942,000 $ 0 Mortgage-backed securities 57,545,000 0 57,545,000 0 Municipal general obligation bonds 122,386,000 0 115,917,000 6,469,000 Municipal revenue bonds 8,593,000 0 8,593,000 0 Other investments 1,986,000 0 1,986,000 0 Interest rate swap (278,000 ) 0 (278,000 ) 0 Total $ 323,174,000 $ 0 $ 316,705,000 $ 6,469,000 Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Available for sale securities U.S. Government agency $ 147,040,000 $ 0 $ 147,040,000 $ 0 Mortgage-backed securities 67,074,000 0 67,074,000 0 Municipal general obligation bonds 122,023,000 0 113,604,000 8,419,000 Municipal revenue bonds 8,914,000 0 8,914,000 0 Other investments 1,941,000 0 1,941,000 0 Interest rate swap (253,000 ) 0 (253,000 ) 0 Total $ 346,739,000 $ 0 $ 338,320,000 $ 8,419,000 |
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block] | Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Impaired loans (1) $ 9,012,000 $ 0 $ 0 $ 9,012,000 Foreclosed assets (1) 815,000 0 0 815,000 Total $ 9,827,000 $ 0 $ 0 $ 9,827,000 Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Impaired loans (1) $ 8,970,000 $ 0 $ 0 $ 8,970,000 Foreclosed assets (1) 1,293,000 0 0 1,293,000 Total $ 10,263,000 $ 0 $ 0 $ 10,263,000 |
Note 12 - Regulatory Matters (T
Note 12 - Regulatory Matters (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Notes Tables | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | Actual Minimum Required for Capital Adequacy Purposes Minimum Required to be Well Capitalized Under Prompt Corrective Action Regulations Amount Ratio Amount Ratio Amount Ratio June 30, 2016 Total capital (to risk weighted assets) Consolidated $ 347,819 13.0 % $ 214,866 8.0 % $ NA NA Bank 350,224 13.1 214,632 8.0 268,290 10.0 % Tier 1 capital (to risk weighted assets) Consolidated 330,710 12.3 161,150 6.0 NA NA Bank 333,114 12.4 160,974 6.0 214,632 8.0 Common equity tier 1 (to risk weighted assets) Consolidated 288,289 10.7 120,863 4.5 NA NA Bank 333,114 12.4 120,731 4.5 174,388 6.5 Tier 1 capital (to average assets) Consolidated 330,710 11.4 115,944 4.0 NA NA Bank 333,114 11.5 115,924 4.0 144,905 5.0 Actual Minimum Required for Capital Adequacy Purposes Minimum Required to be Well Capitalized Under Prompt Corrective Action Regulations Amount Ratio Amount Ratio Amount Ratio December 31, 2015 Total capital (to risk weighted assets) Consolidated $ 345,539 13.5 % $ 205,602 8.0 % $ NA NA Bank 347,433 13.5 205,624 8.0 257,030 10.0 % Tier 1 capital (to risk weighted assets) Consolidated 329,858 12.8 154,201 6.0 NA NA Bank 331,752 12.9 154,218 6.0 205,624 8.0 Common equity tier 1 (to risk weighted assets) Consolidated 280,171 10.9 115,804 4.5 NA NA Bank 331,752 12.9 115,664 4.5 167,070 6.5 Tier 1 capital (to average assets) Consolidated 329,858 11.6 114,138 4.0 NA NA Bank 331,752 11.6 114,280 4.0 142,850 5.0 |
Note 1 - Significant Accounti32
Note 1 - Significant Accounting Policies (Details Textual) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2016USD ($)shares | Jun. 30, 2015shares | Jun. 30, 2016USD ($)shares | Jun. 30, 2015shares | Dec. 31, 2015USD ($) | |
Restricted Stock [Member] | |||||
Incremental Common Shares Attributable to Participating Nonvested Shares with Non-forfeitable Dividend Rights | 150,000 | 100,000 | 150,000 | 100,000 | |
Employee Stock Option [Member] | |||||
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements | 92,000 | 108,000 | 92,000 | 108,000 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 7,000 | 91,000 | 7,000 | 91,000 | |
Mortgage Loans [Member] | |||||
Servicing Asset | $ | $ 597 | $ 597 | |||
Core Deposits [Member] | |||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 10 years | ||||
Number of Unconsolidated Business Trusts Formed to Issue Trust Preferred Securities | 5 | 5 | |||
Interest Income on Commercial and Mortgage Loans Discontinued Period | 90 days | ||||
Maximum Delinquency Period for Consumer and Credit Card Loans to be Charged Off | 120 days | ||||
Loans Receivable Held-for-sale, Net, Not Part of Disposal Group, Mortgage | $ | $ 2.9 | $ 2.9 | $ 1.3 |
Note 2 - Securities (Details Te
Note 2 - Securities (Details Textual) | 6 Months Ended | |
Jun. 30, 2016USD ($) | Dec. 31, 2015USD ($) | |
Debt Securities [Member] | ||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 93 | |
State of Michigan and All Its Political Subdivisions [Member] | ||
Available-for-sale Debt Securities, Amortized Cost Basis | $ 107,000,000 | $ 106,000,000 |
Available-for-sale Securities | 109,000,000 | 107,000,000 |
All Other States and Their Political Subdivisions [Member] | ||
Available-for-sale Debt Securities, Amortized Cost Basis | 21,500,000 | 24,000,000 |
Available-for-sale Securities | $ 21,800,000 | 24,100,000 |
Securities Other Than US Government Agencies and the State of Michigan and Political Subdivisions [Member] | Stockholders' Equity, Total [Member] | Securities Issued Concentration Risk [Member] | ||
Concentration Risk, Percentage | 10.00% | |
US Government Agency Debt Obligations and Mortgage Backed Securities [Member] | ||
Available-for-sale Securities, Restricted | $ 137,000,000 | 155,000,000 |
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Credit Losses on Debt Securities Held | 0 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 30,509,000 | 163,876,000 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | 182,000 | 2,069,000 |
Available-for-sale Debt Securities, Amortized Cost Basis | 319,039,000 | |
Available-for-sale Securities | $ 323,452,000 | $ 346,992,000 |
Note 2 - Securities - Available
Note 2 - Securities - Available-for-sale Securities (Details) - USD ($) | Jun. 30, 2016 | Dec. 31, 2015 |
US Government Agencies Debt Securities [Member] | ||
Amortized Cost | $ 132,085,000 | $ 146,660,000 |
Gross Unrealized Gains | 895,000 | 1,932,000 |
Gross Unrealized Losses | (38,000) | (1,552,000) |
Fair Value | 132,942,000 | 147,040,000 |
Collateralized Mortgage Backed Securities [Member] | ||
Amortized Cost | 56,616,000 | 66,670,000 |
Gross Unrealized Gains | 979,000 | 708,000 |
Gross Unrealized Losses | (50,000) | (304,000) |
Fair Value | 57,545,000 | 67,074,000 |
Municipal General Obligation Bonds [Member] | ||
Amortized Cost | 119,878,000 | 120,679,000 |
Gross Unrealized Gains | 2,602,000 | 1,549,000 |
Gross Unrealized Losses | (94,000) | (205,000) |
Fair Value | 122,386,000 | 122,023,000 |
Municipal Revenue Bonds [Member] | ||
Amortized Cost | 8,498,000 | 8,841,000 |
Gross Unrealized Gains | 95,000 | 76,000 |
Gross Unrealized Losses | 0 | (3,000) |
Fair Value | 8,593,000 | 8,914,000 |
Other Debt Obligations [Member] | ||
Amortized Cost | 1,962,000 | 1,946,000 |
Gross Unrealized Gains | 24,000 | 0 |
Gross Unrealized Losses | 0 | (5,000) |
Fair Value | 1,986,000 | 1,941,000 |
Amortized Cost | 319,039,000 | 344,796,000 |
Gross Unrealized Gains | 4,595,000 | 4,265,000 |
Gross Unrealized Losses | (182,000) | (2,069,000) |
Fair Value | $ 323,452,000 | $ 346,992,000 |
Note 2 - Securities- Securities
Note 2 - Securities- Securities in a Continuous Loss Position (Details) - USD ($) | Jun. 30, 2016 | Dec. 31, 2015 |
US Government Agencies Debt Securities [Member] | ||
Available for Sale Securities in a Continuous Loss Position, Less than 12 months Fair Value | $ 3,991,000 | $ 0 |
Available for Sale Securities in a Continuous Loss Position, Less than 12 months Unrealized Loss | 9,000 | 0 |
Available for Sale Securities in a Continuous Loss Position, 12 Months or More Fair Value | 2,958,000 | 76,496,000 |
Available for Sale Securities in a Continuous Loss Position, 12 Months or More Unrealized Loss | 29,000 | 1,552,000 |
Available for Sale Securities in a Continuous Loss Position, Fair Value | 6,949,000 | 76,496,000 |
Available for Sale Securities in a Continuous Loss Position, Unrealized Loss | 38,000 | 1,552,000 |
Collateralized Mortgage Backed Securities [Member] | ||
Available for Sale Securities in a Continuous Loss Position, Less than 12 months Fair Value | 3,212,000 | 18,025,000 |
Available for Sale Securities in a Continuous Loss Position, Less than 12 months Unrealized Loss | 16,000 | 69,000 |
Available for Sale Securities in a Continuous Loss Position, 12 Months or More Fair Value | 9,899,000 | 34,660,000 |
Available for Sale Securities in a Continuous Loss Position, 12 Months or More Unrealized Loss | 34,000 | 235,000 |
Available for Sale Securities in a Continuous Loss Position, Fair Value | 13,111,000 | 52,685,000 |
Available for Sale Securities in a Continuous Loss Position, Unrealized Loss | 50,000 | 304,000 |
Municipal General Obligation Bonds [Member] | ||
Available for Sale Securities in a Continuous Loss Position, Less than 12 months Fair Value | 850,000 | 1,981,000 |
Available for Sale Securities in a Continuous Loss Position, Less than 12 months Unrealized Loss | 5,000 | 4,000 |
Available for Sale Securities in a Continuous Loss Position, 12 Months or More Fair Value | 9,042,000 | 30,134,000 |
Available for Sale Securities in a Continuous Loss Position, 12 Months or More Unrealized Loss | 89,000 | 201,000 |
Available for Sale Securities in a Continuous Loss Position, Fair Value | 9,892,000 | 32,115,000 |
Available for Sale Securities in a Continuous Loss Position, Unrealized Loss | 94,000 | 205,000 |
Municipal Revenue Bonds [Member] | ||
Available for Sale Securities in a Continuous Loss Position, Less than 12 months Fair Value | 557,000 | 0 |
Available for Sale Securities in a Continuous Loss Position, Less than 12 months Unrealized Loss | 0 | 0 |
Available for Sale Securities in a Continuous Loss Position, 12 Months or More Fair Value | 0 | 1,134,000 |
Available for Sale Securities in a Continuous Loss Position, 12 Months or More Unrealized Loss | 0 | 3,000 |
Available for Sale Securities in a Continuous Loss Position, Fair Value | 557,000 | 1,134,000 |
Available for Sale Securities in a Continuous Loss Position, Unrealized Loss | 0 | 3,000 |
Other Debt Obligations [Member] | ||
Available for Sale Securities in a Continuous Loss Position, Less than 12 months Fair Value | 0 | 1,446,000 |
Available for Sale Securities in a Continuous Loss Position, Less than 12 months Unrealized Loss | 0 | 5,000 |
Available for Sale Securities in a Continuous Loss Position, 12 Months or More Fair Value | 0 | 0 |
Available for Sale Securities in a Continuous Loss Position, 12 Months or More Unrealized Loss | 0 | 0 |
Available for Sale Securities in a Continuous Loss Position, Fair Value | 0 | 1,446,000 |
Available for Sale Securities in a Continuous Loss Position, Unrealized Loss | 0 | 5,000 |
Available for Sale Securities in a Continuous Loss Position, Less than 12 months Fair Value | 8,610,000 | 21,452,000 |
Available for Sale Securities in a Continuous Loss Position, Less than 12 months Unrealized Loss | 30,000 | 78,000 |
Available for Sale Securities in a Continuous Loss Position, 12 Months or More Fair Value | 21,899,000 | 142,424,000 |
Available for Sale Securities in a Continuous Loss Position, 12 Months or More Unrealized Loss | 152,000 | 1,991,000 |
Available for Sale Securities in a Continuous Loss Position, Fair Value | 30,509,000 | 163,876,000 |
Available for Sale Securities in a Continuous Loss Position, Unrealized Loss | $ 182,000 | $ 2,069,000 |
Note 2 - Securities - Debt Secu
Note 2 - Securities - Debt Securities by Maturity (Details) | Jun. 30, 2016USD ($) |
Collateralized Mortgage Backed Securities [Member] | |
Mortgage-backed securities | 1.76% |
Mortgage-backed securities | $ 56,616,000 |
Mortgage-backed securities | $ 57,545,000 |
Other Debt Obligations [Member] | |
Mortgage-backed securities | 3.06% |
Mortgage-backed securities | $ 1,962,000 |
Mortgage-backed securities | $ 1,986,000 |
Due in 2016 | 1.44% |
Due in 2016 | $ 32,582,000 |
Due in 2016 | $ 32,601,000 |
Due in 2017 through 2021 | 1.83% |
Due in 2017 through 2021 | $ 119,275,000 |
Due in 2017 through 2021 | $ 120,413,000 |
Due in 2022 through 2026 | 3.10% |
Due in 2022 through 2026 | $ 55,510,000 |
Due in 2022 through 2026 | $ 56,994,000 |
Due in 2027 and beyond | 3.27% |
Due in 2027 and beyond | $ 53,094,000 |
Due in 2027 and beyond | $ 53,913,000 |
2.24% | |
Available-for-sale Debt Securities, Amortized Cost Basis | $ 319,039,000 |
$ 323,452,000 |
Note 3 - Loans and Allowance 37
Note 3 - Loans and Allowance for Loan Losses (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | Dec. 31, 2015 | |
Loans and Leases Receivable Nonaccrual Loans Interest Income Recognized | $ 0 | $ 0 | |||
Loans and Leases Receivable, Net of Deferred Income | $ 2,379,940,000 | 2,379,940,000 | $ 2,277,727,000 | ||
Loans and Leases Receivable Period Increase (Decrease) | $ 102,000,000 | ||||
Loans and Leases Receivable, Percentage Period Increase (Decrease) | 4.50% | ||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 19,200,000 | $ 19,200,000 | 24,600,000 | ||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 8,800,000 | 8,800,000 | $ 13,100,000 | ||
Impaired Financing Receivable, Interest Income, Accrual Method | $ 200,000 | $ 400,000 | $ 500,000 | $ 800,000 | |
Minimum Number of Days Past Due at Period End For Loans Modified as Troubled Debt Restructurings | 30 days |
Note 3 - Loans and Allowance 38
Note 3 - Loans and Allowance for Loan Losses - Components of Loan Portfolio (Details) - USD ($) | 6 Months Ended | ||
Jun. 30, 2016 | Dec. 31, 2015 | Jun. 30, 2015 | |
Originated Loan [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |||
Loans | $ 653,135,000 | $ 577,872,000 | |
Percent of portfolio | 36.30% | 35.70% | |
Period increase (decrease) | 13.00% | ||
Originated Loan [Member] | Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | |||
Loans | $ 30,232,000 | $ 30,138,000 | |
Percent of portfolio | 1.70% | 1.90% | |
Period increase (decrease) | 0.30% | ||
Originated Loan [Member] | Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | |||
Loans | $ 338,909,000 | $ 330,798,000 | |
Percent of portfolio | 18.80% | 20.50% | |
Period increase (decrease) | 2.50% | ||
Originated Loan [Member] | Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | |||
Loans | $ 603,236,000 | $ 520,754,000 | |
Percent of portfolio | 33.50% | 32.20% | |
Period increase (decrease) | 15.80% | ||
Originated Loan [Member] | Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residentia lRental Loan [Member] | |||
Loans | $ 39,233,000 | $ 33,954,000 | |
Percent of portfolio | 2.20% | 2.10% | |
Period increase (decrease) | 15.50% | ||
Originated Loan [Member] | Commercial Portfolio Segment [Member] | |||
Loans | $ 1,664,745,000 | $ 1,493,516,000 | $ 1,322,388,000 |
Percent of portfolio | 92.50% | 92.40% | |
Period increase (decrease) | 11.50% | ||
Originated Loan [Member] | Retail Portfolio Segment [Member] | Home Equity and Other [Member] | |||
Loans | $ 69,396,000 | $ 67,816,000 | |
Percent of portfolio | 3.90% | 4.20% | |
Period increase (decrease) | 2.30% | ||
Originated Loan [Member] | Retail Portfolio Segment [Member] | One to Four Family Mortgages [Member] | |||
Loans | $ 65,813,000 | $ 55,255,000 | |
Percent of portfolio | 3.60% | 3.40% | |
Period increase (decrease) | 19.10% | ||
Originated Loan [Member] | Retail Portfolio Segment [Member] | |||
Loans | $ 135,209,000 | $ 123,071,000 | 107,235,000 |
Percent of portfolio | 7.50% | 7.60% | |
Period increase (decrease) | 9.90% | ||
Originated Loan [Member] | |||
Loans | $ 1,799,954,000 | $ 1,616,587,000 | $ 1,429,623,000 |
Percent of portfolio | 100.00% | 100.00% | |
Period increase (decrease) | 11.30% | ||
Acquired Loan [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |||
Loans | $ 97,001,000 | $ 118,431,000 | |
Percent of portfolio | 16.70% | 17.90% | |
Period increase (decrease) | (18.10%) | ||
Acquired Loan [Member] | Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | |||
Loans | $ 10,297,000 | $ 14,982,000 | |
Percent of portfolio | 1.80% | 2.30% | |
Period increase (decrease) | (31.30%) | ||
Acquired Loan [Member] | Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | |||
Loans | $ 99,889,000 | $ 115,121,000 | |
Percent of portfolio | 17.20% | 17.40% | |
Period increase (decrease) | (13.20%) | ||
Acquired Loan [Member] | Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | |||
Loans | $ 113,694,000 | $ 123,597,000 | |
Percent of portfolio | 19.60% | 18.70% | |
Period increase (decrease) | (8.00%) | ||
Acquired Loan [Member] | Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residentia lRental Loan [Member] | |||
Loans | $ 74,129,000 | $ 81,049,000 | |
Percent of portfolio | 12.80% | 12.30% | |
Period increase (decrease) | (8.50%) | ||
Acquired Loan [Member] | Commercial Portfolio Segment [Member] | |||
Loans | $ 395,010,000 | $ 453,180,000 | |
Percent of portfolio | 68.10% | 68.60% | |
Period increase (decrease) | (12.80%) | ||
Acquired Loan [Member] | Retail Portfolio Segment [Member] | Home Equity and Other [Member] | |||
Loans | $ 61,671,000 | $ 72,830,000 | |
Percent of portfolio | 10.60% | 11.00% | |
Period increase (decrease) | (15.30%) | ||
Acquired Loan [Member] | Retail Portfolio Segment [Member] | One to Four Family Mortgages [Member] | |||
Loans | $ 123,305,000 | $ 135,130,000 | |
Percent of portfolio | 21.30% | 20.40% | |
Period increase (decrease) | (8.70%) | ||
Acquired Loan [Member] | Retail Portfolio Segment [Member] | |||
Loans | $ 184,976,000 | $ 207,960,000 | |
Percent of portfolio | 31.90% | 31.40% | |
Period increase (decrease) | (11.10%) | ||
Acquired Loan [Member] | |||
Loans | $ 579,986,000 | $ 661,140,000 | |
Percent of portfolio | 100.00% | 100.00% | |
Period increase (decrease) | (12.30%) | ||
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |||
Loans | $ 750,136,000 | $ 696,303,000 | |
Percent of portfolio | 31.50% | 30.60% | |
Period increase (decrease) | 7.70% | ||
Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | |||
Loans | $ 40,529,000 | $ 45,120,000 | |
Percent of portfolio | 1.70% | 2.00% | |
Period increase (decrease) | (10.20%) | ||
Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | |||
Loans | $ 438,798,000 | $ 445,919,000 | |
Percent of portfolio | 18.40% | 19.60% | |
Period increase (decrease) | (1.60%) | ||
Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | |||
Loans | $ 716,930,000 | $ 644,351,000 | |
Percent of portfolio | 30.10% | 28.30% | |
Period increase (decrease) | 11.30% | ||
Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residentia lRental Loan [Member] | |||
Loans | $ 113,362,000 | $ 115,003,000 | |
Percent of portfolio | 4.80% | 5.00% | |
Period increase (decrease) | (1.40%) | ||
Commercial Portfolio Segment [Member] | |||
Loans | $ 2,059,755,000 | $ 1,946,696,000 | |
Percent of portfolio | 86.50% | 85.50% | |
Period increase (decrease) | 5.80% | ||
Retail Portfolio Segment [Member] | Home Equity and Other [Member] | |||
Loans | $ 131,067,000 | $ 140,646,000 | |
Percent of portfolio | 5.50% | 6.20% | |
Period increase (decrease) | (6.80%) | ||
Retail Portfolio Segment [Member] | One to Four Family Mortgages [Member] | |||
Loans | $ 189,118,000 | $ 190,385,000 | |
Percent of portfolio | 8.00% | 8.30% | |
Period increase (decrease) | (0.70%) | ||
Retail Portfolio Segment [Member] | |||
Loans | $ 320,185,000 | $ 331,031,000 | |
Percent of portfolio | 13.50% | 14.50% | |
Period increase (decrease) | (3.30%) | ||
Loans | $ 2,379,940,000 | $ 2,277,727,000 | |
Percent of portfolio | 100.00% | 100.00% | |
Period increase (decrease) | 4.50% |
Note 3 - Loans and Allowance 39
Note 3 - Loans and Allowance for Loan Losses - Acquired Impaired Loans Accretable Yield (Details) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | ||
Balance at beginning of period | $ 6,319,000 | $ 5,241,000 | $ 5,193,000 | $ 4,998,000 | |
Additions | 0 | 0 | 21,000 | 0 | |
Accretion income | (674,000) | (681,000) | (1,354,000) | (1,327,000) | |
Net reclassification from nonaccretable to accretable | 1,193,000 | 708,000 | 3,565,000 | 1,649,000 | |
Reductions (1) | [1] | (236,000) | (153,000) | (823,000) | (205,000) |
Balance at end of period | $ 6,602,000 | $ 5,115,000 | $ 6,602,000 | $ 5,115,000 | |
[1] | Reductions primarily reflect the result of exit events, including loan payoffs and charge-offs. |
Note 3 - Loans and Allowance 40
Note 3 - Loans and Allowance for Loan Losses - Nonperforming Loans (Details) - USD ($) | Jun. 30, 2016 | Dec. 31, 2015 |
Nonperforming Financial Instruments [Member] | Originated Loan [Member] | ||
Loans past due 90 days or more still accruing interest | $ 0 | $ 0 |
Nonaccrual loans | 2,042,000 | 1,954,000 |
Total nonperforming originated loans | 2,042,000 | 1,954,000 |
Nonperforming Financial Instruments [Member] | Acquired Loan [Member] | ||
Loans past due 90 days or more still accruing interest | 0 | 5,000 |
Nonaccrual loans | 3,126,000 | 3,485,000 |
Total nonperforming originated loans | 3,126,000 | 3,490,000 |
Nonperforming Financial Instruments [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Total nonperforming originated loans | 819,000 | 458,000 |
Nonperforming Financial Instruments [Member] | Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | ||
Total nonperforming originated loans | 125,000 | 155,000 |
Nonperforming Financial Instruments [Member] | Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | ||
Total nonperforming originated loans | 1,465,000 | 1,797,000 |
Nonperforming Financial Instruments [Member] | Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | ||
Total nonperforming originated loans | 51,000 | 79,000 |
Nonperforming Financial Instruments [Member] | Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residentia lRental Loan [Member] | ||
Total nonperforming originated loans | 114,000 | 157,000 |
Nonperforming Financial Instruments [Member] | Commercial Portfolio Segment [Member] | ||
Total nonperforming originated loans | 2,574,000 | 2,646,000 |
Nonperforming Financial Instruments [Member] | Retail Portfolio Segment [Member] | Home Equity and Other [Member] | ||
Total nonperforming originated loans | 616,000 | 771,000 |
Nonperforming Financial Instruments [Member] | Retail Portfolio Segment [Member] | One to Four Family Mortgages [Member] | ||
Total nonperforming originated loans | 1,978,000 | 2,027,000 |
Nonperforming Financial Instruments [Member] | Retail Portfolio Segment [Member] | ||
Total nonperforming originated loans | 2,594,000 | 2,798,000 |
Nonperforming Financial Instruments [Member] | ||
Total nonperforming originated loans | 5,168,000 | 5,444,000 |
Originated Loan [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Loans past due 90 days or more still accruing interest | 0 | 0 |
Originated Loan [Member] | Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | ||
Loans past due 90 days or more still accruing interest | 0 | 0 |
Originated Loan [Member] | Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | ||
Loans past due 90 days or more still accruing interest | 0 | 0 |
Originated Loan [Member] | Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | ||
Loans past due 90 days or more still accruing interest | 0 | 0 |
Originated Loan [Member] | Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residentia lRental Loan [Member] | ||
Loans past due 90 days or more still accruing interest | 0 | 0 |
Originated Loan [Member] | Commercial Portfolio Segment [Member] | ||
Loans past due 90 days or more still accruing interest | 0 | 0 |
Originated Loan [Member] | Retail Portfolio Segment [Member] | Home Equity and Other [Member] | ||
Loans past due 90 days or more still accruing interest | 0 | 0 |
Originated Loan [Member] | Retail Portfolio Segment [Member] | One to Four Family Mortgages [Member] | ||
Loans past due 90 days or more still accruing interest | 0 | 0 |
Originated Loan [Member] | Retail Portfolio Segment [Member] | ||
Loans past due 90 days or more still accruing interest | 0 | 0 |
Originated Loan [Member] | ||
Loans past due 90 days or more still accruing interest | 0 | 0 |
Acquired Loan [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Loans past due 90 days or more still accruing interest | 0 | 0 |
Acquired Loan [Member] | Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | ||
Loans past due 90 days or more still accruing interest | 0 | 0 |
Acquired Loan [Member] | Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | ||
Loans past due 90 days or more still accruing interest | 0 | 0 |
Acquired Loan [Member] | Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | ||
Loans past due 90 days or more still accruing interest | 0 | 0 |
Acquired Loan [Member] | Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residentia lRental Loan [Member] | ||
Loans past due 90 days or more still accruing interest | 0 | 0 |
Acquired Loan [Member] | Commercial Portfolio Segment [Member] | ||
Loans past due 90 days or more still accruing interest | 0 | 0 |
Acquired Loan [Member] | Retail Portfolio Segment [Member] | Home Equity and Other [Member] | ||
Loans past due 90 days or more still accruing interest | 0 | 5,000 |
Acquired Loan [Member] | Retail Portfolio Segment [Member] | One to Four Family Mortgages [Member] | ||
Loans past due 90 days or more still accruing interest | 0 | 0 |
Acquired Loan [Member] | Retail Portfolio Segment [Member] | ||
Loans past due 90 days or more still accruing interest | 0 | 5,000 |
Acquired Loan [Member] | ||
Loans past due 90 days or more still accruing interest | $ 0 | $ 5,000 |
Note 3 - Loans and Allowance 41
Note 3 - Loans and Allowance for Loan Losses - Age Analysis of Past Due Loans (Details) - USD ($) | Jun. 30, 2016 | Dec. 31, 2015 | Jun. 30, 2015 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Originated Loan [Member] | Commercial and Industrial [Member] | |||
Past due loans | $ 1,000 | $ 0 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Originated Loan [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | |||
Past due loans | 0 | 0 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Originated Loan [Member] | Real Estate Owner Occupied Loan [Member] | |||
Past due loans | 0 | 432,000 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Originated Loan [Member] | Real Estate Non Owner Occupied Loan [Member] | |||
Past due loans | 0 | 0 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Originated Loan [Member] | Real Estate Multi Family and Residentia lRental Loan [Member] | |||
Past due loans | 0 | 0 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Originated Loan [Member] | |||
Past due loans | 1,000 | 432,000 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Commercial and Industrial [Member] | |||
Past due loans | 14,000 | 0 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | |||
Past due loans | 29,000 | 27,000 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Real Estate Owner Occupied Loan [Member] | |||
Past due loans | 243,000 | 323,000 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Real Estate Non Owner Occupied Loan [Member] | |||
Past due loans | 159,000 | 53,000 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Real Estate Multi Family and Residentia lRental Loan [Member] | |||
Past due loans | 164,000 | 223,000 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Acquired Loan [Member] | |||
Past due loans | 609,000 | 626,000 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Retail Portfolio Segment [Member] | Originated Loan [Member] | Home Equity and Other [Member] | |||
Past due loans | 129,000 | 186,000 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Retail Portfolio Segment [Member] | Originated Loan [Member] | One to Four Family Mortgages [Member] | |||
Past due loans | 97,000 | 107,000 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Retail Portfolio Segment [Member] | Originated Loan [Member] | |||
Past due loans | 226,000 | 293,000 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Retail Portfolio Segment [Member] | Acquired Loan [Member] | Home Equity and Other [Member] | |||
Past due loans | 568,000 | 395,000 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Retail Portfolio Segment [Member] | Acquired Loan [Member] | One to Four Family Mortgages [Member] | |||
Past due loans | 1,188,000 | 960,000 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Retail Portfolio Segment [Member] | Acquired Loan [Member] | |||
Past due loans | 1,756,000 | 1,355,000 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Originated Loan [Member] | |||
Past due loans | 227,000 | 725,000 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Acquired Loan [Member] | |||
Past due loans | 2,365,000 | 1,981,000 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Originated Loan [Member] | Commercial and Industrial [Member] | |||
Past due loans | 0 | 0 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Originated Loan [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | |||
Past due loans | 0 | 0 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Originated Loan [Member] | Real Estate Owner Occupied Loan [Member] | |||
Past due loans | 197,000 | 0 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Originated Loan [Member] | Real Estate Non Owner Occupied Loan [Member] | |||
Past due loans | 0 | 0 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Originated Loan [Member] | Real Estate Multi Family and Residentia lRental Loan [Member] | |||
Past due loans | 0 | 0 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Originated Loan [Member] | |||
Past due loans | 197,000 | 0 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Commercial and Industrial [Member] | |||
Past due loans | 0 | 5,000 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | |||
Past due loans | 0 | 0 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Real Estate Owner Occupied Loan [Member] | |||
Past due loans | 50,000 | 425,000 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Real Estate Non Owner Occupied Loan [Member] | |||
Past due loans | 0 | 703,000 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Real Estate Multi Family and Residentia lRental Loan [Member] | |||
Past due loans | 42,000 | 54,000 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Acquired Loan [Member] | |||
Past due loans | 92,000 | 1,187,000 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Retail Portfolio Segment [Member] | Originated Loan [Member] | Home Equity and Other [Member] | |||
Past due loans | 21,000 | 108,000 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Retail Portfolio Segment [Member] | Originated Loan [Member] | One to Four Family Mortgages [Member] | |||
Past due loans | 0 | 95,000 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Retail Portfolio Segment [Member] | Originated Loan [Member] | |||
Past due loans | 21,000 | 203,000 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Retail Portfolio Segment [Member] | Acquired Loan [Member] | Home Equity and Other [Member] | |||
Past due loans | 43,000 | 44,000 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Retail Portfolio Segment [Member] | Acquired Loan [Member] | One to Four Family Mortgages [Member] | |||
Past due loans | 261,000 | 354,000 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Retail Portfolio Segment [Member] | Acquired Loan [Member] | |||
Past due loans | 304,000 | 398,000 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Originated Loan [Member] | |||
Past due loans | 218,000 | 203,000 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Acquired Loan [Member] | |||
Past due loans | 396,000 | 1,585,000 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Originated Loan [Member] | Commercial and Industrial [Member] | |||
Past due loans | 0 | 0 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Originated Loan [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | |||
Past due loans | 0 | 0 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Originated Loan [Member] | Real Estate Owner Occupied Loan [Member] | |||
Past due loans | 0 | 9,000 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Originated Loan [Member] | Real Estate Non Owner Occupied Loan [Member] | |||
Past due loans | 0 | 0 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Originated Loan [Member] | Real Estate Multi Family and Residentia lRental Loan [Member] | |||
Past due loans | 0 | 0 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Originated Loan [Member] | |||
Past due loans | 0 | 9,000 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Commercial and Industrial [Member] | |||
Past due loans | 350,000 | 541,000 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | |||
Past due loans | 0 | 0 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Real Estate Owner Occupied Loan [Member] | |||
Past due loans | 398,000 | 1,142,000 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Real Estate Non Owner Occupied Loan [Member] | |||
Past due loans | 419,000 | 79,000 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Real Estate Multi Family and Residentia lRental Loan [Member] | |||
Past due loans | 80,000 | 0 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Acquired Loan [Member] | |||
Past due loans | 1,247,000 | 1,762,000 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Retail Portfolio Segment [Member] | Originated Loan [Member] | Home Equity and Other [Member] | |||
Past due loans | 11,000 | 0 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Retail Portfolio Segment [Member] | Originated Loan [Member] | One to Four Family Mortgages [Member] | |||
Past due loans | 403,000 | 356,000 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Retail Portfolio Segment [Member] | Originated Loan [Member] | |||
Past due loans | 414,000 | 356,000 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Retail Portfolio Segment [Member] | Acquired Loan [Member] | Home Equity and Other [Member] | |||
Past due loans | 11,000 | 28,000 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Retail Portfolio Segment [Member] | Acquired Loan [Member] | One to Four Family Mortgages [Member] | |||
Past due loans | 344,000 | 416,000 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Retail Portfolio Segment [Member] | Acquired Loan [Member] | |||
Past due loans | 355,000 | 444,000 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Originated Loan [Member] | |||
Past due loans | 414,000 | 365,000 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Acquired Loan [Member] | |||
Past due loans | 1,602,000 | 2,206,000 | |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Commercial and Industrial [Member] | |||
Past due loans | 1,000 | 0 | |
Current past due | 653,134,000 | 577,872,000 | |
Loans | 653,135,000 | 577,872,000 | |
Loans past due 90 days or more still accruing interest | 0 | 0 | |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | |||
Past due loans | 0 | 0 | |
Current past due | 30,232,000 | 30,138,000 | |
Loans | 30,232,000 | 30,138,000 | |
Loans past due 90 days or more still accruing interest | 0 | 0 | |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Real Estate Owner Occupied Loan [Member] | |||
Past due loans | 197,000 | 441,000 | |
Current past due | 338,712,000 | 330,357,000 | |
Loans | 338,909,000 | 330,798,000 | |
Loans past due 90 days or more still accruing interest | 0 | 0 | |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Real Estate Non Owner Occupied Loan [Member] | |||
Past due loans | 0 | 0 | |
Current past due | 603,236,000 | 520,754,000 | |
Loans | 603,236,000 | 520,754,000 | |
Loans past due 90 days or more still accruing interest | 0 | 0 | |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Real Estate Multi Family and Residentia lRental Loan [Member] | |||
Past due loans | 0 | 0 | |
Current past due | 39,233,000 | 33,954,000 | |
Loans | 39,233,000 | 33,954,000 | |
Loans past due 90 days or more still accruing interest | 0 | 0 | |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | |||
Past due loans | 198,000 | 441,000 | |
Current past due | 1,664,547,000 | 1,493,075,000 | |
Loans | 1,664,745,000 | 1,493,516,000 | $ 1,322,388,000 |
Loans past due 90 days or more still accruing interest | 0 | 0 | |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Commercial and Industrial [Member] | |||
Past due loans | 364,000 | 546,000 | |
Current past due | 96,637,000 | 117,885,000 | |
Loans | 97,001,000 | 118,431,000 | |
Loans past due 90 days or more still accruing interest | 0 | 0 | |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | |||
Past due loans | 29,000 | 27,000 | |
Current past due | 10,268,000 | 14,955,000 | |
Loans | 10,297,000 | 14,982,000 | |
Loans past due 90 days or more still accruing interest | 0 | 0 | |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Real Estate Owner Occupied Loan [Member] | |||
Past due loans | 691,000 | 1,890,000 | |
Current past due | 99,198,000 | 113,231,000 | |
Loans | 99,889,000 | 115,121,000 | |
Loans past due 90 days or more still accruing interest | 0 | 0 | |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Real Estate Non Owner Occupied Loan [Member] | |||
Past due loans | 578,000 | 835,000 | |
Current past due | 113,116,000 | 122,762,000 | |
Loans | 113,694,000 | 123,597,000 | |
Loans past due 90 days or more still accruing interest | 0 | 0 | |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Real Estate Multi Family and Residentia lRental Loan [Member] | |||
Past due loans | 286,000 | 277,000 | |
Current past due | 73,843,000 | 80,772,000 | |
Loans | 74,129,000 | 81,049,000 | |
Loans past due 90 days or more still accruing interest | 0 | 0 | |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | |||
Past due loans | 1,948,000 | 3,575,000 | |
Current past due | 393,062,000 | 449,605,000 | |
Loans | 395,010,000 | 453,180,000 | |
Loans past due 90 days or more still accruing interest | 0 | 0 | |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |||
Loans | 750,136,000 | 696,303,000 | |
Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | |||
Loans | 40,529,000 | 45,120,000 | |
Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | |||
Loans | 438,798,000 | 445,919,000 | |
Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | |||
Loans | 716,930,000 | 644,351,000 | |
Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residentia lRental Loan [Member] | |||
Loans | 113,362,000 | 115,003,000 | |
Commercial Portfolio Segment [Member] | |||
Loans | 2,059,755,000 | 1,946,696,000 | |
Retail Portfolio Segment [Member] | Originated Loan [Member] | Home Equity and Other [Member] | |||
Past due loans | 161,000 | 294,000 | |
Current past due | 69,235,000 | 67,522,000 | |
Loans | 69,396,000 | 67,816,000 | |
Loans past due 90 days or more still accruing interest | 0 | 0 | |
Retail Portfolio Segment [Member] | Originated Loan [Member] | One to Four Family Mortgages [Member] | |||
Past due loans | 500,000 | 558,000 | |
Current past due | 65,313,000 | 54,697,000 | |
Loans | 65,813,000 | 55,255,000 | |
Loans past due 90 days or more still accruing interest | 0 | 0 | |
Retail Portfolio Segment [Member] | Originated Loan [Member] | |||
Past due loans | 661,000 | 852,000 | |
Current past due | 134,548,000 | 122,219,000 | |
Loans | 135,209,000 | 123,071,000 | 107,235,000 |
Loans past due 90 days or more still accruing interest | 0 | 0 | |
Retail Portfolio Segment [Member] | Acquired Loan [Member] | Home Equity and Other [Member] | |||
Past due loans | 622,000 | 467,000 | |
Current past due | 61,049,000 | 72,363,000 | |
Loans | 61,671,000 | 72,830,000 | |
Loans past due 90 days or more still accruing interest | 0 | 5,000 | |
Retail Portfolio Segment [Member] | Acquired Loan [Member] | One to Four Family Mortgages [Member] | |||
Past due loans | 1,793,000 | 1,730,000 | |
Current past due | 121,512,000 | 133,400,000 | |
Loans | 123,305,000 | 135,130,000 | |
Loans past due 90 days or more still accruing interest | 0 | 0 | |
Retail Portfolio Segment [Member] | Acquired Loan [Member] | |||
Past due loans | 2,415,000 | 2,197,000 | |
Current past due | 182,561,000 | 205,763,000 | |
Loans | 184,976,000 | 207,960,000 | |
Loans past due 90 days or more still accruing interest | 0 | 5,000 | |
Retail Portfolio Segment [Member] | Home Equity and Other [Member] | |||
Loans | 131,067,000 | 140,646,000 | |
Retail Portfolio Segment [Member] | One to Four Family Mortgages [Member] | |||
Loans | 189,118,000 | 190,385,000 | |
Retail Portfolio Segment [Member] | |||
Loans | 320,185,000 | 331,031,000 | |
Originated Loan [Member] | |||
Past due loans | 859,000 | 1,293,000 | |
Current past due | 1,799,095,000 | 1,615,294,000 | |
Loans | 1,799,954,000 | 1,616,587,000 | $ 1,429,623,000 |
Loans past due 90 days or more still accruing interest | 0 | 0 | |
Acquired Loan [Member] | |||
Past due loans | 4,363,000 | 5,772,000 | |
Current past due | 575,623,000 | 655,368,000 | |
Loans | 579,986,000 | 661,140,000 | |
Loans past due 90 days or more still accruing interest | 0 | 5,000 | |
Loans | $ 2,379,940,000 | $ 2,277,727,000 |
Note 3 - Loans and Allowance 42
Note 3 - Loans and Allowance for Loan Losses - Impaired Loans (Details) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | Dec. 31, 2015 | |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Originated Loan [Member] | |||||
With no related allowance recorded, unpaid principal balance | $ 2,147,000 | $ 2,147,000 | $ 1,509,000 | ||
With no related allowance recorded, principal balance | 2,146,000 | 2,146,000 | 1,501,000 | ||
With no related allowance recorded, average recorded principal balance | 2,017,000 | $ 1,930,000 | 1,845,000 | $ 1,674,000 | |
With an allowance recorded, unpaid principal balance | 249,000 | 249,000 | 352,000 | ||
With an allowance recorded, principal balance | 199,000 | 199,000 | 305,000 | ||
Related allowance | 47,000 | 47,000 | 165,000 | ||
With an allowance recorded, average recorded principal balance | 217,000 | 2,812,000 | 246,000 | 3,617,000 | |
With no related allowance recorded, average recorded principal balance | 2,017,000 | 1,930,000 | 1,845,000 | 1,674,000 | |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Acquired Loan [Member] | |||||
With no related allowance recorded, unpaid principal balance | 1,694,000 | 1,694,000 | 1,528,000 | ||
With no related allowance recorded, principal balance | 1,681,000 | 1,681,000 | 1,494,000 | ||
With no related allowance recorded, average recorded principal balance | 1,556,000 | 1,244,000 | 1,535,000 | 1,356,000 | |
With an allowance recorded, unpaid principal balance | 356,000 | 356,000 | 383,000 | ||
With an allowance recorded, principal balance | 356,000 | 356,000 | 376,000 | ||
Related allowance | 101,000 | 101,000 | 102,000 | ||
With an allowance recorded, average recorded principal balance | 367,000 | 97,000 | 370,000 | 65,000 | |
With no related allowance recorded, average recorded principal balance | 1,556,000 | 1,244,000 | 1,535,000 | 1,356,000 | |
Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | Originated Loan [Member] | |||||
With no related allowance recorded, unpaid principal balance | 0 | 0 | 0 | ||
With no related allowance recorded, principal balance | 0 | 0 | 0 | ||
With no related allowance recorded, average recorded principal balance | 0 | 98,000 | 0 | 135,000 | |
With an allowance recorded, unpaid principal balance | 2,002,000 | 2,002,000 | 2,017,000 | ||
With an allowance recorded, principal balance | 1,625,000 | 1,625,000 | 1,655,000 | ||
Related allowance | 72,000 | 72,000 | 245,000 | ||
With an allowance recorded, average recorded principal balance | 1,633,000 | 2,092,000 | 1,640,000 | 2,061,000 | |
With no related allowance recorded, average recorded principal balance | 0 | 98,000 | 0 | 135,000 | |
Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | Acquired Loan [Member] | |||||
With no related allowance recorded, unpaid principal balance | 0 | 0 | 0 | ||
With no related allowance recorded, principal balance | 0 | 0 | 0 | ||
With no related allowance recorded, average recorded principal balance | 0 | 0 | 0 | 0 | |
With an allowance recorded, unpaid principal balance | 0 | 0 | 0 | ||
With an allowance recorded, principal balance | 0 | 0 | 0 | ||
Related allowance | 0 | 0 | 0 | ||
With an allowance recorded, average recorded principal balance | 0 | 0 | 0 | 0 | |
With no related allowance recorded, average recorded principal balance | 0 | 0 | 0 | 0 | |
Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | Originated Loan [Member] | |||||
With no related allowance recorded, unpaid principal balance | 348,000 | 348,000 | 712,000 | ||
With no related allowance recorded, principal balance | 251,000 | 251,000 | 505,000 | ||
With no related allowance recorded, average recorded principal balance | 160,000 | 1,062,000 | 275,000 | 1,342,000 | |
With an allowance recorded, unpaid principal balance | 5,930,000 | 5,930,000 | 5,867,000 | ||
With an allowance recorded, principal balance | 1,378,000 | 1,378,000 | 1,314,000 | ||
Related allowance | 235,000 | 235,000 | 242,000 | ||
With an allowance recorded, average recorded principal balance | 1,339,000 | 8,806,000 | 1,331,000 | 11,095,000 | |
With no related allowance recorded, average recorded principal balance | 160,000 | 1,062,000 | 275,000 | 1,342,000 | |
Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | Acquired Loan [Member] | |||||
With no related allowance recorded, unpaid principal balance | 1,314,000 | 1,314,000 | 2,233,000 | ||
With no related allowance recorded, principal balance | 1,300,000 | 1,300,000 | 1,952,000 | ||
With no related allowance recorded, average recorded principal balance | 1,485,000 | 317,000 | 1,640,000 | 249,000 | |
With an allowance recorded, unpaid principal balance | 49,000 | 49,000 | 51,000 | ||
With an allowance recorded, principal balance | 49,000 | 49,000 | 51,000 | ||
Related allowance | 4,000 | 4,000 | 4,000 | ||
With an allowance recorded, average recorded principal balance | 50,000 | 1,256,000 | 50,000 | 1,338,000 | |
With no related allowance recorded, average recorded principal balance | 1,485,000 | 317,000 | 1,640,000 | 249,000 | |
Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | Originated Loan [Member] | |||||
With no related allowance recorded, unpaid principal balance | 5,623,000 | 5,623,000 | 5,696,000 | ||
With no related allowance recorded, principal balance | 5,623,000 | 5,623,000 | 5,696,000 | ||
With no related allowance recorded, average recorded principal balance | 5,641,000 | 2,937,000 | 5,660,000 | 2,362,000 | |
With an allowance recorded, unpaid principal balance | 4,704,000 | 4,704,000 | 4,841,000 | ||
With an allowance recorded, principal balance | 4,704,000 | 4,704,000 | 4,841,000 | ||
Related allowance | 180,000 | 180,000 | 201,000 | ||
With an allowance recorded, average recorded principal balance | 4,729,000 | 10,319,000 | 4,766,000 | 12,195,000 | |
With no related allowance recorded, average recorded principal balance | 5,641,000 | 2,937,000 | 5,660,000 | 2,362,000 | |
Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | Acquired Loan [Member] | |||||
With no related allowance recorded, unpaid principal balance | 811,000 | 811,000 | 880,000 | ||
With no related allowance recorded, principal balance | 811,000 | 811,000 | 880,000 | ||
With no related allowance recorded, average recorded principal balance | 792,000 | 427,000 | 821,000 | 393,000 | |
With an allowance recorded, unpaid principal balance | 0 | 0 | 0 | ||
With an allowance recorded, principal balance | 0 | 0 | 0 | ||
Related allowance | 0 | 0 | 0 | ||
With an allowance recorded, average recorded principal balance | 0 | 0 | 0 | 0 | |
With no related allowance recorded, average recorded principal balance | 792,000 | 427,000 | 821,000 | 393,000 | |
Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residentia lRental Loan [Member] | Originated Loan [Member] | |||||
With no related allowance recorded, unpaid principal balance | 0 | 0 | 0 | ||
With no related allowance recorded, principal balance | 0 | 0 | 0 | ||
With no related allowance recorded, average recorded principal balance | 0 | 306,000 | 0 | 309,000 | |
With an allowance recorded, unpaid principal balance | 979,000 | 979,000 | 1,028,000 | ||
With an allowance recorded, principal balance | 979,000 | 979,000 | 1,028,000 | ||
Related allowance | 293,000 | 293,000 | 365,000 | ||
With an allowance recorded, average recorded principal balance | 993,000 | 1,321,000 | 1,004,000 | 1,338,000 | |
With no related allowance recorded, average recorded principal balance | 0 | 306,000 | 0 | 309,000 | |
Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residentia lRental Loan [Member] | Acquired Loan [Member] | |||||
With no related allowance recorded, unpaid principal balance | 295,000 | 295,000 | 452,000 | ||
With no related allowance recorded, principal balance | 295,000 | 295,000 | 404,000 | ||
With no related allowance recorded, average recorded principal balance | 289,000 | 2,037,000 | 327,000 | 1,520,000 | |
With an allowance recorded, unpaid principal balance | 20,000 | 20,000 | 23,000 | ||
With an allowance recorded, principal balance | 20,000 | 20,000 | 23,000 | ||
Related allowance | 1,000 | 1,000 | 0 | ||
With an allowance recorded, average recorded principal balance | 20,000 | 28,000 | 21,000 | 19,000 | |
With no related allowance recorded, average recorded principal balance | 289,000 | 2,037,000 | 327,000 | 1,520,000 | |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | |||||
With no related allowance recorded, unpaid principal balance | 8,118,000 | 8,118,000 | 7,917,000 | ||
With no related allowance recorded, principal balance | 8,020,000 | 8,020,000 | 7,702,000 | ||
With no related allowance recorded, average recorded principal balance | 7,818,000 | 6,333,000 | 7,780,000 | 5,822,000 | |
With an allowance recorded, unpaid principal balance | 13,864,000 | 13,864,000 | 14,105,000 | ||
With an allowance recorded, principal balance | 8,885,000 | 8,885,000 | 9,143,000 | ||
Related allowance | 827,000 | 827,000 | 1,218,000 | ||
With an allowance recorded, average recorded principal balance | 8,911,000 | 25,350,000 | 8,987,000 | 30,306,000 | |
Total, unpaid principal balance | 21,982,000 | 21,982,000 | 22,022,000 | ||
Total, principal balance | 16,905,000 | 16,905,000 | 16,845,000 | ||
Total, average recorded principal balance | 16,729,000 | 31,683,000 | 16,767,000 | 36,128,000 | |
With no related allowance recorded, average recorded principal balance | 7,818,000 | 6,333,000 | 7,780,000 | 5,822,000 | |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | |||||
With no related allowance recorded, unpaid principal balance | 4,114,000 | 4,114,000 | 5,093,000 | ||
With no related allowance recorded, principal balance | 4,087,000 | 4,087,000 | 4,730,000 | ||
With no related allowance recorded, average recorded principal balance | 4,122,000 | 4,025,000 | 4,323,000 | 3,518,000 | |
With an allowance recorded, unpaid principal balance | 425,000 | 425,000 | 457,000 | ||
With an allowance recorded, principal balance | 425,000 | 425,000 | 450,000 | ||
Related allowance | 106,000 | 106,000 | 106,000 | ||
With an allowance recorded, average recorded principal balance | 437,000 | 1,381,000 | 441,000 | 1,422,000 | |
Total, unpaid principal balance | 4,539,000 | 4,539,000 | 5,550,000 | ||
Total, principal balance | 4,512,000 | 4,512,000 | 5,180,000 | ||
Total, average recorded principal balance | 4,559,000 | 5,406,000 | 4,764,000 | 4,940,000 | |
With no related allowance recorded, average recorded principal balance | 4,122,000 | 4,025,000 | 4,323,000 | 3,518,000 | |
Retail Portfolio Segment [Member] | Home Equity and Other [Member] | Originated Loan [Member] | |||||
With no related allowance recorded, unpaid principal balance | 129,000 | 129,000 | 14,000 | ||
With no related allowance recorded, principal balance | 120,000 | 120,000 | 5,000 | ||
With no related allowance recorded, average recorded principal balance | 65,000 | 189,000 | 45,000 | 190,000 | |
With an allowance recorded, unpaid principal balance | 550,000 | 550,000 | 600,000 | ||
With an allowance recorded, principal balance | 512,000 | 512,000 | 562,000 | ||
Related allowance | 137,000 | 137,000 | 209,000 | ||
With an allowance recorded, average recorded principal balance | 491,000 | 165,000 | 515,000 | 138,000 | |
With no related allowance recorded, average recorded principal balance | 65,000 | 189,000 | 45,000 | 190,000 | |
Retail Portfolio Segment [Member] | Home Equity and Other [Member] | Acquired Loan [Member] | |||||
With no related allowance recorded, unpaid principal balance | 367,000 | 367,000 | 471,000 | ||
With no related allowance recorded, principal balance | 365,000 | 365,000 | 310,000 | ||
With no related allowance recorded, average recorded principal balance | 321,000 | 365,000 | 317,000 | 456,000 | |
With an allowance recorded, unpaid principal balance | 0 | 0 | 0 | ||
With an allowance recorded, principal balance | 0 | 0 | 0 | ||
Related allowance | 0 | 0 | 0 | ||
With an allowance recorded, average recorded principal balance | 0 | 0 | 0 | 0 | |
With no related allowance recorded, average recorded principal balance | 321,000 | 365,000 | 317,000 | 456,000 | |
Retail Portfolio Segment [Member] | One to Four Family Mortgages [Member] | Originated Loan [Member] | |||||
With no related allowance recorded, unpaid principal balance | 1,324,000 | 1,324,000 | 1,328,000 | ||
With no related allowance recorded, principal balance | 668,000 | 668,000 | 657,000 | ||
With no related allowance recorded, average recorded principal balance | 621,000 | 615,000 | 633,000 | 597,000 | |
With an allowance recorded, unpaid principal balance | 205,000 | 205,000 | 165,000 | ||
With an allowance recorded, principal balance | 163,000 | 163,000 | 128,000 | ||
Related allowance | 72,000 | 72,000 | 47,000 | ||
With an allowance recorded, average recorded principal balance | 145,000 | 217,000 | 139,000 | 811,000 | |
With no related allowance recorded, average recorded principal balance | 621,000 | 615,000 | 633,000 | 597,000 | |
Retail Portfolio Segment [Member] | One to Four Family Mortgages [Member] | Acquired Loan [Member] | |||||
With no related allowance recorded, unpaid principal balance | 1,305,000 | 1,305,000 | 1,804,000 | ||
With no related allowance recorded, principal balance | 1,305,000 | 1,305,000 | 1,548,000 | ||
With no related allowance recorded, average recorded principal balance | 1,290,000 | 801,000 | 1,376,000 | 823,000 | |
With an allowance recorded, unpaid principal balance | 174,000 | 174,000 | 175,000 | ||
With an allowance recorded, principal balance | 174,000 | 174,000 | 175,000 | ||
Related allowance | 5,000 | 5,000 | 6,000 | ||
With an allowance recorded, average recorded principal balance | 87,000 | 283,000 | 116,000 | 189,000 | |
With no related allowance recorded, average recorded principal balance | 1,290,000 | 801,000 | 1,376,000 | 823,000 | |
Retail Portfolio Segment [Member] | Originated Loan [Member] | |||||
With no related allowance recorded, unpaid principal balance | 1,453,000 | 1,453,000 | 1,342,000 | ||
With no related allowance recorded, principal balance | 788,000 | 788,000 | 662,000 | ||
With no related allowance recorded, average recorded principal balance | 686,000 | 804,000 | 678,000 | 787,000 | |
With an allowance recorded, unpaid principal balance | 755,000 | 755,000 | 765,000 | ||
With an allowance recorded, principal balance | 675,000 | 675,000 | 690,000 | ||
Related allowance | 209,000 | 209,000 | 256,000 | ||
With an allowance recorded, average recorded principal balance | 636,000 | 382,000 | 654,000 | 949,000 | |
Total, unpaid principal balance | 2,208,000 | 2,208,000 | 2,107,000 | ||
Total, principal balance | 1,463,000 | 1,463,000 | 1,352,000 | ||
Total, average recorded principal balance | 1,322,000 | 1,186,000 | 1,332,000 | 1,736,000 | |
With no related allowance recorded, average recorded principal balance | 686,000 | 804,000 | 678,000 | 787,000 | |
Retail Portfolio Segment [Member] | Acquired Loan [Member] | |||||
With no related allowance recorded, unpaid principal balance | 1,672,000 | 1,672,000 | 2,275,000 | ||
With no related allowance recorded, principal balance | 1,670,000 | 1,670,000 | 1,858,000 | ||
With no related allowance recorded, average recorded principal balance | 1,611,000 | 1,166,000 | 1,693,000 | 1,279,000 | |
With an allowance recorded, unpaid principal balance | 174,000 | 174,000 | 175,000 | ||
With an allowance recorded, principal balance | 174,000 | 174,000 | 175,000 | ||
Related allowance | 5,000 | 5,000 | 6,000 | ||
With an allowance recorded, average recorded principal balance | 87,000 | 283,000 | 116,000 | 189,000 | |
Total, unpaid principal balance | 1,846,000 | 1,846,000 | 2,450,000 | ||
Total, principal balance | 1,844,000 | 1,844,000 | 2,033,000 | ||
Total, average recorded principal balance | 1,698,000 | 1,449,000 | 1,809,000 | 1,468,000 | |
With no related allowance recorded, average recorded principal balance | 1,611,000 | 1,166,000 | 1,693,000 | 1,279,000 | |
Originated Loan [Member] | |||||
With no related allowance recorded, unpaid principal balance | 9,571,000 | 9,571,000 | 9,259,000 | ||
With no related allowance recorded, principal balance | 8,808,000 | 8,808,000 | 8,364,000 | ||
With no related allowance recorded, average recorded principal balance | 8,504,000 | 7,137,000 | 8,458,000 | 6,609,000 | |
With an allowance recorded, unpaid principal balance | 14,619,000 | 14,619,000 | 14,870,000 | ||
With an allowance recorded, principal balance | 9,560,000 | 9,560,000 | 9,833,000 | ||
Related allowance | 1,036,000 | 1,036,000 | 1,474,000 | ||
With an allowance recorded, average recorded principal balance | 9,547,000 | 25,732,000 | 9,641,000 | 31,255,000 | |
Total, unpaid principal balance | 24,190,000 | 24,190,000 | 24,129,000 | ||
Total, principal balance | 18,368,000 | 18,368,000 | 18,197,000 | ||
Total, average recorded principal balance | 18,051,000 | 32,869,000 | 18,099,000 | 37,864,000 | |
With no related allowance recorded, average recorded principal balance | 8,504,000 | 7,137,000 | 8,458,000 | 6,609,000 | |
Acquired Loan [Member] | |||||
With no related allowance recorded, unpaid principal balance | 5,786,000 | 5,786,000 | 7,368,000 | ||
With no related allowance recorded, principal balance | 5,757,000 | 5,757,000 | 6,588,000 | ||
With no related allowance recorded, average recorded principal balance | 5,733,000 | 5,191,000 | 6,016,000 | 4,797,000 | |
With an allowance recorded, unpaid principal balance | 599,000 | 599,000 | 632,000 | ||
With an allowance recorded, principal balance | 599,000 | 599,000 | 625,000 | ||
Related allowance | 111,000 | 111,000 | 112,000 | ||
With an allowance recorded, average recorded principal balance | 524,000 | 1,664,000 | 557,000 | 1,611,000 | |
Total, unpaid principal balance | 6,385,000 | 6,385,000 | 8,000,000 | ||
Total, principal balance | 6,356,000 | 6,356,000 | $ 7,213,000 | ||
Total, average recorded principal balance | 6,257,000 | 6,855,000 | 6,573,000 | 6,408,000 | |
With no related allowance recorded, average recorded principal balance | $ 5,733,000 | $ 5,191,000 | $ 6,016,000 | $ 4,797,000 |
Note 3 - Loans and Allowance 43
Note 3 - Loans and Allowance for Loan Losses - Loans by Credit Quality Indicators (Details) - USD ($) | Jun. 30, 2016 | Dec. 31, 2015 | Jun. 30, 2015 |
Originated Loan [Member] | Grades 1-4 [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |||
Loans | $ 455,134,000 | $ 417,120,000 | |
Originated Loan [Member] | Grades 1-4 [Member] | Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | |||
Loans | 19,014,000 | 18,118,000 | |
Originated Loan [Member] | Grades 1-4 [Member] | Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | |||
Loans | 237,652,000 | 230,629,000 | |
Originated Loan [Member] | Grades 1-4 [Member] | Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | |||
Loans | 491,928,000 | 400,350,000 | |
Originated Loan [Member] | Grades 1-4 [Member] | Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residentia lRental Loan [Member] | |||
Loans | 20,438,000 | 19,121,000 | |
Originated Loan [Member] | Grades 5-7 [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |||
Loans | 197,701,000 | 160,454,000 | |
Originated Loan [Member] | Grades 5-7 [Member] | Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | |||
Loans | 11,093,000 | 10,365,000 | |
Originated Loan [Member] | Grades 5-7 [Member] | Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | |||
Loans | 99,961,000 | 98,332,000 | |
Originated Loan [Member] | Grades 5-7 [Member] | Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | |||
Loans | 111,308,000 | 120,404,000 | |
Originated Loan [Member] | Grades 5-7 [Member] | Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residentia lRental Loan [Member] | |||
Loans | 17,816,000 | 13,806,000 | |
Originated Loan [Member] | Grades 8-9 [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |||
Loans | 300,000 | 298,000 | |
Originated Loan [Member] | Grades 8-9 [Member] | Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | |||
Loans | 125,000 | 1,655,000 | |
Originated Loan [Member] | Grades 8-9 [Member] | Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | |||
Loans | 1,296,000 | 1,837,000 | |
Originated Loan [Member] | Grades 8-9 [Member] | Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | |||
Loans | 0 | 0 | |
Originated Loan [Member] | Grades 8-9 [Member] | Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residentia lRental Loan [Member] | |||
Loans | 979,000 | 1,027,000 | |
Originated Loan [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |||
Loans | 653,135,000 | 577,872,000 | |
Originated Loan [Member] | Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | |||
Loans | 30,232,000 | 30,138,000 | |
Originated Loan [Member] | Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | |||
Loans | 338,909,000 | 330,798,000 | |
Originated Loan [Member] | Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | |||
Loans | 603,236,000 | 520,754,000 | |
Originated Loan [Member] | Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residentia lRental Loan [Member] | |||
Loans | 39,233,000 | 33,954,000 | |
Originated Loan [Member] | Commercial Portfolio Segment [Member] | |||
Loans | 1,664,745,000 | 1,493,516,000 | $ 1,322,388,000 |
Originated Loan [Member] | |||
Loans | 1,799,954,000 | 1,616,587,000 | $ 1,429,623,000 |
Acquired Loan [Member] | Grades 1-4 [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |||
Loans | 50,716,000 | 67,978,000 | |
Acquired Loan [Member] | Grades 1-4 [Member] | Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | |||
Loans | 2,322,000 | 3,095,000 | |
Acquired Loan [Member] | Grades 1-4 [Member] | Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | |||
Loans | 41,217,000 | 45,807,000 | |
Acquired Loan [Member] | Grades 1-4 [Member] | Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | |||
Loans | 70,569,000 | 71,197,000 | |
Acquired Loan [Member] | Grades 1-4 [Member] | Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residentia lRental Loan [Member] | |||
Loans | 42,729,000 | 44,763,000 | |
Acquired Loan [Member] | Grades 5-7 [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |||
Loans | 43,819,000 | 47,589,000 | |
Acquired Loan [Member] | Grades 5-7 [Member] | Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | |||
Loans | 7,648,000 | 11,364,000 | |
Acquired Loan [Member] | Grades 5-7 [Member] | Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | |||
Loans | 55,364,000 | 63,563,000 | |
Acquired Loan [Member] | Grades 5-7 [Member] | Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | |||
Loans | 41,431,000 | 50,066,000 | |
Acquired Loan [Member] | Grades 5-7 [Member] | Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residentia lRental Loan [Member] | |||
Loans | 30,692,000 | 35,288,000 | |
Acquired Loan [Member] | Grades 8-9 [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |||
Loans | 2,466,000 | 2,864,000 | |
Acquired Loan [Member] | Grades 8-9 [Member] | Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | |||
Loans | 327,000 | 523,000 | |
Acquired Loan [Member] | Grades 8-9 [Member] | Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | |||
Loans | 3,308,000 | 5,751,000 | |
Acquired Loan [Member] | Grades 8-9 [Member] | Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | |||
Loans | 1,694,000 | 2,334,000 | |
Acquired Loan [Member] | Grades 8-9 [Member] | Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residentia lRental Loan [Member] | |||
Loans | 708,000 | 998,000 | |
Acquired Loan [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |||
Loans | 97,001,000 | 118,431,000 | |
Acquired Loan [Member] | Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | |||
Loans | 10,297,000 | 14,982,000 | |
Acquired Loan [Member] | Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | |||
Loans | 99,889,000 | 115,121,000 | |
Acquired Loan [Member] | Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | |||
Loans | 113,694,000 | 123,597,000 | |
Acquired Loan [Member] | Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residentia lRental Loan [Member] | |||
Loans | 74,129,000 | 81,049,000 | |
Acquired Loan [Member] | Commercial Portfolio Segment [Member] | |||
Loans | 395,010,000 | 453,180,000 | |
Acquired Loan [Member] | |||
Loans | 579,986,000 | 661,140,000 | |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |||
Loans | 750,136,000 | 696,303,000 | |
Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | |||
Loans | 40,529,000 | 45,120,000 | |
Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | |||
Loans | 438,798,000 | 445,919,000 | |
Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | |||
Loans | 716,930,000 | 644,351,000 | |
Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residentia lRental Loan [Member] | |||
Loans | 113,362,000 | 115,003,000 | |
Commercial Portfolio Segment [Member] | |||
Loans | 2,059,755,000 | 1,946,696,000 | |
Loans | $ 2,379,940,000 | $ 2,277,727,000 |
Note 3 - Loans and Allowance 44
Note 3 - Loans and Allowance for Loan Losses - Retail Credit Exposure (Details) - USD ($) | Jun. 30, 2016 | Dec. 31, 2015 | Jun. 30, 2015 |
Originated Loan [Member] | Retail Portfolio Segment [Member] | Home Equity and Other [Member] | |||
Loans | $ 69,396,000 | $ 67,816,000 | |
Originated Loan [Member] | Retail Portfolio Segment [Member] | One to Four Family Mortgages [Member] | |||
Loans | 65,813,000 | 55,255,000 | |
Originated Loan [Member] | Retail Portfolio Segment [Member] | |||
Loans | 135,209,000 | 123,071,000 | $ 107,235,000 |
Originated Loan [Member] | |||
Loans | 1,799,954,000 | 1,616,587,000 | $ 1,429,623,000 |
Acquired Loan [Member] | Retail Portfolio Segment [Member] | Home Equity and Other [Member] | |||
Loans | 61,671,000 | 72,830,000 | |
Acquired Loan [Member] | Retail Portfolio Segment [Member] | One to Four Family Mortgages [Member] | |||
Loans | 123,305,000 | 135,130,000 | |
Acquired Loan [Member] | Retail Portfolio Segment [Member] | |||
Loans | 184,976,000 | 207,960,000 | |
Acquired Loan [Member] | |||
Loans | 579,986,000 | 661,140,000 | |
Retail Portfolio Segment [Member] | Home Equity and Other [Member] | |||
Loans | 131,067,000 | 140,646,000 | |
Retail Portfolio Segment [Member] | One to Four Family Mortgages [Member] | |||
Loans | 189,118,000 | 190,385,000 | |
Retail Portfolio Segment [Member] | |||
Loans | 320,185,000 | 331,031,000 | |
Loans | $ 2,379,940,000 | $ 2,277,727,000 |
Note 3 - Loans and Allowance 45
Note 3 - Loans and Allowance for Loan Losses - Activity in Allowance for Loan Losses and the Recorded Investments in Loans (Details) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | Dec. 31, 2015 | |
Originated Loan [Member] | Commercial Portfolio Segment [Member] | |||||
Balance | $ 13,924,000 | $ 18,977,000 | $ 13,672,000 | $ 17,736,000 | |
Provision for loan losses | 842,000 | (1,151,000) | 936,000 | (1,651,000) | |
Charge-offs | (166,000) | (4,199,000) | (255,000) | (4,277,000) | |
Recoveries | 129,000 | 365,000 | 376,000 | 2,184,000 | |
Ending balance | 14,729,000 | 13,992,000 | 14,729,000 | 13,992,000 | |
Ending balance: individually evaluated for impairment | 827,000 | 2,146,000 | 827,000 | 2,146,000 | |
Ending balance: collectively evaluated for impairment | 13,902,000 | 11,846,000 | 13,902,000 | 11,846,000 | |
Loans | 1,664,745,000 | 1,322,388,000 | 1,664,745,000 | 1,322,388,000 | $ 1,493,516,000 |
Ending balance: individually evaluated for impairment | 16,905,000 | 19,108,000 | 16,905,000 | 19,108,000 | |
Ending balance: collectively evaluated for impairment | 1,647,840,000 | 1,303,280,000 | 1,647,840,000 | 1,303,280,000 | |
Originated Loan [Member] | Retail Portfolio Segment [Member] | |||||
Balance | 1,834,000 | 1,235,000 | 1,421,000 | 1,487,000 | |
Provision for loan losses | 296,000 | 513,000 | 799,000 | 592,000 | |
Charge-offs | (231,000) | (154,000) | (617,000) | (517,000) | |
Recoveries | 14,000 | 120,000 | 310,000 | 152,000 | |
Ending balance | 1,913,000 | 1,714,000 | 1,913,000 | 1,714,000 | |
Ending balance: individually evaluated for impairment | 209,000 | 178,000 | 209,000 | 178,000 | |
Ending balance: collectively evaluated for impairment | 1,704,000 | 1,536,000 | 1,704,000 | 1,536,000 | |
Loans | 135,209,000 | 107,235,000 | 135,209,000 | 107,235,000 | 123,071,000 |
Ending balance: individually evaluated for impairment | 1,463,000 | 1,180,000 | 1,463,000 | 1,180,000 | |
Ending balance: collectively evaluated for impairment | 133,746,000 | 106,055,000 | 133,746,000 | 106,055,000 | |
Originated Loan [Member] | Unallocated Financing Receivables [Member] | |||||
Balance | 214,000 | 39,000 | 140,000 | 76,000 | |
Provision for loan losses | 20,000 | (5,000) | 94,000 | (42,000) | |
Charge-offs | 0 | 0 | 0 | 0 | |
Recoveries | 0 | 0 | 0 | 0 | |
Ending balance | 234,000 | 34,000 | 234,000 | 34,000 | |
Ending balance: individually evaluated for impairment | 0 | 0 | 0 | 0 | |
Ending balance: collectively evaluated for impairment | 234,000 | 34,000 | 234,000 | 34,000 | |
Loans | |||||
Originated Loan [Member] | |||||
Balance | 15,972,000 | 20,251,000 | 15,233,000 | 19,299,000 | |
Provision for loan losses | 1,158,000 | (643,000) | 1,829,000 | (1,101,000) | |
Charge-offs | (397,000) | (4,353,000) | (872,000) | (4,794,000) | |
Recoveries | 143,000 | 485,000 | 686,000 | 2,336,000 | |
Ending balance | 16,876,000 | 15,740,000 | 16,876,000 | 15,740,000 | |
Ending balance: individually evaluated for impairment | 1,036,000 | 2,324,000 | 1,036,000 | 2,324,000 | |
Ending balance: collectively evaluated for impairment | 15,840,000 | 13,416,000 | 15,840,000 | 13,416,000 | |
Loans | 1,799,954,000 | 1,429,623,000 | 1,799,954,000 | 1,429,623,000 | 1,616,587,000 |
Ending balance: individually evaluated for impairment | 18,368,000 | 20,288,000 | 18,368,000 | 20,288,000 | |
Ending balance: collectively evaluated for impairment | 1,781,586,000 | 1,409,335,000 | 1,781,586,000 | 1,409,335,000 | |
Acquired Loan [Member] | Commercial Portfolio Segment [Member] | |||||
Balance | 266,000 | 622,000 | 420,000 | 681,000 | |
Provision for loan losses | (57,000) | (31,000) | (167,000) | (90,000) | |
Charge-offs | 0 | (30,000) | 0 | (31,000) | |
Recoveries | 2,000 | 0 | 1,000 | ||
Ending balance | 211,000 | 561,000 | 211,000 | 561,000 | |
Loans | 395,010,000 | 395,010,000 | 453,180,000 | ||
Recoveries | (42,000) | ||||
Acquired Loan [Member] | Retail Portfolio Segment [Member] | |||||
Balance | 24,000 | 177,000 | 28,000 | 61,000 | |
Provision for loan losses | (1,000) | 74,000 | 38,000 | 191,000 | |
Charge-offs | 0 | 0 | 0 | (7,000) | |
Recoveries | 0 | 9,000 | 15,000 | ||
Ending balance | 23,000 | 260,000 | 23,000 | 260,000 | |
Loans | 184,976,000 | 184,976,000 | 207,960,000 | ||
Recoveries | (43,000) | ||||
Acquired Loan [Member] | Unallocated Financing Receivables [Member] | |||||
Balance | 0 | 0 | 0 | 0 | |
Provision for loan losses | 0 | 0 | 0 | 0 | |
Charge-offs | 0 | 0 | 0 | 0 | |
Recoveries | 0 | 0 | 0 | ||
Ending balance | 0 | 0 | 0 | 0 | |
Recoveries | 0 | ||||
Acquired Loan [Member] | |||||
Balance | 290,000 | 799,000 | 448,000 | 742,000 | |
Provision for loan losses | (58,000) | 43,000 | (129,000) | 101,000 | |
Charge-offs | 0 | (30,000) | 0 | (38,000) | |
Recoveries | 2,000 | 9,000 | 16,000 | ||
Ending balance | 234,000 | 821,000 | 234,000 | 821,000 | |
Loans | 579,986,000 | 579,986,000 | 661,140,000 | ||
Recoveries | (85,000) | ||||
Commercial Portfolio Segment [Member] | |||||
Loans | 2,059,755,000 | 2,059,755,000 | 1,946,696,000 | ||
Retail Portfolio Segment [Member] | |||||
Loans | 320,185,000 | 320,185,000 | 331,031,000 | ||
Provision for loan losses | 1,100,000 | $ (600,000) | 1,700,000 | $ (1,000,000) | |
Loans | $ 2,379,940,000 | $ 2,379,940,000 | $ 2,277,727,000 |
Note 3 - Loans and Allowance 46
Note 3 - Loans and Allowance for Loan Losses - Loans Modified as Troubled Debt Restructurings (Details) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016USD ($) | Jun. 30, 2015USD ($) | Jun. 30, 2016USD ($) | Jun. 30, 2015USD ($) | |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Commercial and Industrial [Member] | ||||
Number of Contracts | 0 | 4 | 1 | 10 |
Pre- Modification Recorded Principal Balance | $ 0 | $ 1,308,000 | $ 20,000 | $ 1,876,000 |
Post- Modification Recorded Principal Balance | $ 0 | $ 1,308,000 | $ 20,000 | $ 1,901,000 |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | ||||
Number of Contracts | 0 | 0 | 0 | 0 |
Pre- Modification Recorded Principal Balance | $ 0 | $ 0 | $ 0 | $ 0 |
Post- Modification Recorded Principal Balance | $ 0 | $ 0 | $ 0 | $ 0 |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Real Estate Owner Occupied Loan [Member] | ||||
Number of Contracts | 1 | 0 | 1 | 0 |
Pre- Modification Recorded Principal Balance | $ 167,000 | $ 0 | $ 167,000 | $ 0 |
Post- Modification Recorded Principal Balance | $ 167,000 | $ 0 | $ 167,000 | $ 0 |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Real Estate Non Owner Occupied Loan [Member] | ||||
Number of Contracts | 0 | 0 | 0 | 0 |
Pre- Modification Recorded Principal Balance | $ 0 | $ 0 | $ 0 | $ 0 |
Post- Modification Recorded Principal Balance | $ 0 | $ 0 | $ 0 | $ 0 |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Real Estate Multi Family and Residentia lRental Loan [Member] | ||||
Number of Contracts | 0 | 0 | 0 | 0 |
Pre- Modification Recorded Principal Balance | $ 0 | $ 0 | $ 0 | $ 0 |
Post- Modification Recorded Principal Balance | $ 0 | $ 0 | $ 0 | $ 0 |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | ||||
Number of Contracts | 1 | 4 | 2 | 10 |
Pre- Modification Recorded Principal Balance | $ 167,000 | $ 1,308,000 | $ 187,000 | $ 1,876,000 |
Post- Modification Recorded Principal Balance | $ 167,000 | $ 1,308,000 | $ 187,000 | $ 1,901,000 |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Commercial and Industrial [Member] | ||||
Number of Contracts | 0 | 2 | 0 | 2 |
Pre- Modification Recorded Principal Balance | $ 0 | $ 286,000 | $ 0 | $ 286,000 |
Post- Modification Recorded Principal Balance | $ 0 | $ 286,000 | $ 0 | $ 286,000 |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | ||||
Number of Contracts | 0 | 0 | 0 | 0 |
Pre- Modification Recorded Principal Balance | $ 0 | $ 0 | $ 0 | $ 0 |
Post- Modification Recorded Principal Balance | $ 0 | $ 0 | $ 0 | $ 0 |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Real Estate Owner Occupied Loan [Member] | ||||
Number of Contracts | 0 | 3 | 0 | 5 |
Pre- Modification Recorded Principal Balance | $ 0 | $ 119,000 | $ 0 | $ 169,000 |
Post- Modification Recorded Principal Balance | $ 0 | $ 119,000 | $ 0 | $ 169,000 |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Real Estate Non Owner Occupied Loan [Member] | ||||
Number of Contracts | 1 | 1 | 1 | 1 |
Pre- Modification Recorded Principal Balance | $ 60,000 | $ 302,000 | $ 60,000 | $ 302,000 |
Post- Modification Recorded Principal Balance | $ 60,000 | $ 302,000 | $ 60,000 | $ 302,000 |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Real Estate Multi Family and Residentia lRental Loan [Member] | ||||
Number of Contracts | 1 | 3 | 1 | 3 |
Pre- Modification Recorded Principal Balance | $ 7,000 | $ 265,000 | $ 7,000 | $ 265,000 |
Post- Modification Recorded Principal Balance | $ 7,000 | $ 265,000 | $ 7,000 | $ 265,000 |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | ||||
Number of Contracts | 2 | 9 | 2 | 11 |
Pre- Modification Recorded Principal Balance | $ 67,000 | $ 972,000 | $ 67,000 | $ 1,022,000 |
Post- Modification Recorded Principal Balance | $ 67,000 | $ 972,000 | $ 67,000 | $ 1,022,000 |
Retail Portfolio Segment [Member] | Originated Loan [Member] | Home Equity and Other [Member] | ||||
Number of Contracts | 2 | 0 | 2 | 0 |
Pre- Modification Recorded Principal Balance | $ 184,000 | $ 0 | $ 184,000 | $ 0 |
Post- Modification Recorded Principal Balance | $ 184,000 | $ 0 | $ 184,000 | $ 0 |
Retail Portfolio Segment [Member] | Originated Loan [Member] | One to Four Family Mortgages [Member] | ||||
Number of Contracts | 1 | 0 | 1 | 0 |
Pre- Modification Recorded Principal Balance | $ 33,000 | $ 0 | $ 33,000 | $ 0 |
Post- Modification Recorded Principal Balance | $ 40,000 | $ 0 | $ 40,000 | $ 0 |
Retail Portfolio Segment [Member] | Originated Loan [Member] | ||||
Number of Contracts | 3 | 0 | 3 | 0 |
Pre- Modification Recorded Principal Balance | $ 217,000 | $ 0 | $ 217,000 | $ 0 |
Post- Modification Recorded Principal Balance | $ 224,000 | $ 0 | $ 224,000 | $ 0 |
Retail Portfolio Segment [Member] | Acquired Loan [Member] | Home Equity and Other [Member] | ||||
Number of Contracts | 1 | 1 | 2 | 1 |
Pre- Modification Recorded Principal Balance | $ 25,000 | $ 161,000 | $ 51,000 | $ 161,000 |
Post- Modification Recorded Principal Balance | $ 25,000 | $ 161,000 | $ 51,000 | $ 161,000 |
Retail Portfolio Segment [Member] | Acquired Loan [Member] | One to Four Family Mortgages [Member] | ||||
Number of Contracts | 0 | 0 | 1 | 0 |
Pre- Modification Recorded Principal Balance | $ 0 | $ 0 | $ 19,000 | $ 0 |
Post- Modification Recorded Principal Balance | $ 0 | $ 0 | $ 19,000 | $ 0 |
Retail Portfolio Segment [Member] | Acquired Loan [Member] | ||||
Number of Contracts | 1 | 1 | 3 | 1 |
Pre- Modification Recorded Principal Balance | $ 25,000 | $ 161,000 | $ 70,000 | $ 161,000 |
Post- Modification Recorded Principal Balance | $ 25,000 | $ 161,000 | $ 70,000 | $ 161,000 |
Originated Loan [Member] | ||||
Number of Contracts | 4 | 4 | 5 | 10 |
Pre- Modification Recorded Principal Balance | $ 384,000 | $ 1,308,000 | $ 404,000 | $ 1,876,000 |
Post- Modification Recorded Principal Balance | $ 391,000 | $ 1,308,000 | $ 411,000 | $ 1,901,000 |
Acquired Loan [Member] | ||||
Number of Contracts | 3 | 10 | 5 | 12 |
Pre- Modification Recorded Principal Balance | $ 92,000 | $ 1,133,000 | $ 137,000 | $ 1,183,000 |
Post- Modification Recorded Principal Balance | $ 92,000 | $ 1,133,000 | $ 137,000 | $ 1,183,000 |
Note 3 - Loans and Allowance 47
Note 3 - Loans and Allowance for Loan Losses - Loans Modified as Troubled Debt Restructurings within the Previous Twelve Months That Became Over 30 Days Past Due (Details) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016USD ($) | Jun. 30, 2015USD ($) | Jun. 30, 2016USD ($) | Jun. 30, 2015USD ($) | |
Originated Loan [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||||
Number of Contracts | 0 | 0 | 0 | 0 |
Recorded Principal Balance | $ 0 | $ 0 | $ 0 | $ 0 |
Originated Loan [Member] | Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | ||||
Number of Contracts | 0 | 0 | 0 | 0 |
Recorded Principal Balance | $ 0 | $ 0 | $ 0 | $ 0 |
Originated Loan [Member] | Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | ||||
Number of Contracts | 0 | 1 | 0 | 1 |
Recorded Principal Balance | $ 0 | $ 1,182,000 | $ 0 | $ 1,182,000 |
Originated Loan [Member] | Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | ||||
Number of Contracts | 0 | 0 | 0 | 0 |
Recorded Principal Balance | $ 0 | $ 0 | $ 0 | $ 0 |
Originated Loan [Member] | Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residentia lRental Loan [Member] | ||||
Number of Contracts | 0 | 0 | 0 | 0 |
Recorded Principal Balance | $ 0 | $ 0 | $ 0 | $ 0 |
Originated Loan [Member] | Commercial Portfolio Segment [Member] | ||||
Number of Contracts | 0 | 1 | 0 | 1 |
Recorded Principal Balance | $ 0 | $ 1,182,000 | $ 0 | $ 1,182,000 |
Originated Loan [Member] | Retail Portfolio Segment [Member] | Home Equity and Other [Member] | ||||
Number of Contracts | 0 | 0 | 0 | 0 |
Recorded Principal Balance | $ 0 | $ 0 | $ 0 | $ 0 |
Originated Loan [Member] | Retail Portfolio Segment [Member] | One to Four Family Mortgages [Member] | ||||
Number of Contracts | 0 | 0 | 0 | 0 |
Recorded Principal Balance | $ 0 | $ 0 | $ 0 | $ 0 |
Originated Loan [Member] | Retail Portfolio Segment [Member] | ||||
Number of Contracts | 0 | 0 | 0 | 0 |
Recorded Principal Balance | $ 0 | $ 0 | $ 0 | $ 0 |
Originated Loan [Member] | ||||
Number of Contracts | 0 | 1 | 0 | 1 |
Recorded Principal Balance | $ 0 | $ 1,182,000 | $ 0 | $ 1,182,000 |
Acquired Loan [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||||
Number of Contracts | 0 | 0 | 0 | 0 |
Recorded Principal Balance | $ 0 | $ 0 | $ 0 | $ 0 |
Acquired Loan [Member] | Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | ||||
Number of Contracts | 0 | 0 | 0 | 0 |
Recorded Principal Balance | $ 0 | $ 0 | $ 0 | $ 0 |
Acquired Loan [Member] | Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | ||||
Number of Contracts | 0 | 1 | 0 | 1 |
Recorded Principal Balance | $ 0 | $ 18,000 | $ 0 | $ 18,000 |
Acquired Loan [Member] | Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | ||||
Number of Contracts | 0 | 0 | 0 | 0 |
Recorded Principal Balance | $ 0 | $ 0 | $ 0 | $ 0 |
Acquired Loan [Member] | Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residentia lRental Loan [Member] | ||||
Number of Contracts | 1 | 0 | 1 | 0 |
Recorded Principal Balance | $ 22,000 | $ 0 | $ 22,000 | $ 0 |
Acquired Loan [Member] | Commercial Portfolio Segment [Member] | ||||
Number of Contracts | 1 | 1 | 1 | 1 |
Recorded Principal Balance | $ 22,000 | $ 18,000 | $ 22,000 | $ 18,000 |
Acquired Loan [Member] | Retail Portfolio Segment [Member] | Home Equity and Other [Member] | ||||
Number of Contracts | 0 | 0 | 0 | 0 |
Recorded Principal Balance | $ 0 | $ 0 | $ 0 | $ 0 |
Acquired Loan [Member] | Retail Portfolio Segment [Member] | One to Four Family Mortgages [Member] | ||||
Number of Contracts | 0 | 0 | 0 | 0 |
Recorded Principal Balance | $ 0 | $ 0 | $ 0 | $ 0 |
Acquired Loan [Member] | Retail Portfolio Segment [Member] | ||||
Number of Contracts | 0 | 0 | 0 | 0 |
Recorded Principal Balance | $ 0 | $ 0 | $ 0 | $ 0 |
Acquired Loan [Member] | ||||
Number of Contracts | 1 | 1 | 1 | 1 |
Recorded Principal Balance | $ 22,000 | $ 18,000 | $ 22,000 | $ 18,000 |
Note 3 - Loans and Allowance 48
Note 3 - Loans and Allowance for Loan Losses - Activity for Troubled Debt Restructurings (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Commercial and Industrial [Member] | ||||
Beginning Balance | $ 1,946,000 | $ 6,556,000 | $ 2,028,000 | $ 7,026,000 |
Charge-Offs | 0 | 0 | 0 | 0 |
Payments | 0 | (5,380,000) | (101,000) | (6,535,000) |
Transfers to ORE | 0 | 0 | 0 | 0 |
Net Additions/Deletions | 157,000 | 1,266,000 | 176,000 | 1,951,000 |
Ending Balance | 2,103,000 | 2,442,000 | 2,103,000 | 2,442,000 |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | ||||
Beginning Balance | 2,062,000 | 2,654,000 | 2,086,000 | 2,680,000 |
Charge-Offs | 0 | 0 | 0 | 0 |
Payments | (26,000) | (22,000) | (50,000) | (48,000) |
Transfers to ORE | 0 | 0 | 0 | 0 |
Net Additions/Deletions | 0 | 0 | 0 | 0 |
Ending Balance | 2,036,000 | 2,632,000 | 2,036,000 | 2,632,000 |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Real Estate Owner Occupied Loan [Member] | ||||
Beginning Balance | 1,369,000 | 16,966,000 | 1,400,000 | 17,160,000 |
Charge-Offs | 0 | (4,198,000) | 0 | (4,198,000) |
Payments | (35,000) | (10,550,000) | (66,000) | (10,744,000) |
Transfers to ORE | 0 | 0 | 0 | 0 |
Net Additions/Deletions | 97,000 | 0 | 97,000 | 0 |
Ending Balance | 1,431,000 | 2,218,000 | 1,431,000 | 2,218,000 |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Real Estate Non Owner Occupied Loan [Member] | ||||
Beginning Balance | 10,529,000 | 16,063,000 | 10,657,000 | 17,439,000 |
Charge-Offs | 0 | 0 | 0 | 0 |
Payments | (94,000) | (4,981,000) | (222,000) | (6,357,000) |
Transfers to ORE | 0 | 0 | 0 | 0 |
Net Additions/Deletions | 0 | 0 | 0 | 0 |
Ending Balance | 10,435,000 | 11,082,000 | 10,435,000 | 11,082,000 |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Real Estate Multi Family and Residentia lRental Loan [Member] | ||||
Beginning Balance | 469,000 | 498,000 | 476,000 | 505,000 |
Charge-Offs | 0 | 0 | 0 | 0 |
Payments | (8,000) | (7,000) | (15,000) | (14,000) |
Transfers to ORE | 0 | 0 | 0 | 0 |
Net Additions/Deletions | 0 | 0 | 0 | 0 |
Ending Balance | 461,000 | 491,000 | 461,000 | 491,000 |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Commercial and Industrial [Member] | ||||
Beginning Balance | 1,687,000 | 1,519,000 | 1,686,000 | 1,439,000 |
Charge-Offs | 0 | 0 | (48,000) | 0 |
Payments | (43,000) | (275,000) | (43,000) | (275,000) |
Transfers to ORE | 0 | 0 | 0 | 0 |
Net Additions/Deletions | 0 | 277,000 | 49,000 | 357,000 |
Ending Balance | 1,644,000 | 1,521,000 | 1,644,000 | 1,521,000 |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | ||||
Beginning Balance | 0 | 0 | 0 | 0 |
Charge-Offs | 0 | 0 | 0 | 0 |
Payments | 0 | 0 | 0 | 0 |
Transfers to ORE | 0 | 0 | 0 | 0 |
Net Additions/Deletions | 0 | 0 | 0 | 0 |
Ending Balance | 0 | 0 | 0 | 0 |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Real Estate Owner Occupied Loan [Member] | ||||
Beginning Balance | 1,455,000 | 1,492,000 | 1,652,000 | 1,569,000 |
Charge-Offs | 0 | (31,000) | 0 | (31,000) |
Payments | (172,000) | (292,000) | (369,000) | (471,000) |
Transfers to ORE | 0 | 0 | 0 | 0 |
Net Additions/Deletions | 0 | 181,000 | 0 | 283,000 |
Ending Balance | 1,283,000 | 1,350,000 | 1,283,000 | 1,350,000 |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Real Estate Non Owner Occupied Loan [Member] | ||||
Beginning Balance | 637,000 | 62,000 | 647,000 | 64,000 |
Charge-Offs | 0 | 0 | 0 | 0 |
Payments | (12,000) | 0 | (22,000) | (2,000) |
Transfers to ORE | 0 | 0 | 0 | 0 |
Net Additions/Deletions | 56,000 | 299,000 | 56,000 | 299,000 |
Ending Balance | 681,000 | 361,000 | 681,000 | 361,000 |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Real Estate Multi Family and Residentia lRental Loan [Member] | ||||
Beginning Balance | 278,000 | 333,000 | 331,000 | 381,000 |
Charge-Offs | 0 | 0 | 0 | 0 |
Payments | (11,000) | (6,000) | (64,000) | (54,000) |
Transfers to ORE | 0 | 0 | 0 | 0 |
Net Additions/Deletions | 7,000 | 253,000 | 7,000 | 253,000 |
Ending Balance | 274,000 | 580,000 | 274,000 | 580,000 |
Retail Portfolio Segment [Member] | Originated Loan [Member] | Home Equity and Other [Member] | ||||
Beginning Balance | 146,000 | 0 | 146,000 | 0 |
Charge-Offs | 0 | 0 | 0 | 0 |
Payments | (1,000) | 0 | (1,000) | 0 |
Transfers to ORE | 0 | 0 | 0 | 0 |
Net Additions/Deletions | 184,000 | 0 | 184,000 | 0 |
Ending Balance | 329,000 | 0 | 329,000 | 0 |
Retail Portfolio Segment [Member] | Originated Loan [Member] | One to Four Family Mortgages [Member] | ||||
Beginning Balance | 126,000 | 302,000 | 128,000 | 1,967,000 |
Charge-Offs | 0 | (23,000) | 0 | (148,000) |
Payments | (3,000) | (9,000) | (5,000) | (1,549,000) |
Transfers to ORE | 0 | 0 | 0 | 0 |
Net Additions/Deletions | 40,000 | 0 | 40,000 | 0 |
Ending Balance | 163,000 | 270,000 | 163,000 | 270,000 |
Retail Portfolio Segment [Member] | Acquired Loan [Member] | Home Equity and Other [Member] | ||||
Beginning Balance | 161,000 | 0 | 141,000 | 26,000 |
Charge-Offs | 0 | 0 | 0 | 0 |
Payments | (7,000) | 0 | (14,000) | (26,000) |
Transfers to ORE | 0 | 0 | 0 | 0 |
Net Additions/Deletions | 26,000 | 152,000 | 53,000 | 152,000 |
Ending Balance | 180,000 | 152,000 | 180,000 | 152,000 |
Retail Portfolio Segment [Member] | Acquired Loan [Member] | One to Four Family Mortgages [Member] | ||||
Beginning Balance | 335,000 | 177,000 | 316,000 | 178,000 |
Charge-Offs | 0 | 0 | 0 | 0 |
Payments | (2,000) | 0 | (3,000) | (1,000) |
Transfers to ORE | 0 | 0 | 0 | 0 |
Net Additions/Deletions | 0 | 0 | 20,000 | 0 |
Ending Balance | $ 333,000 | $ 177,000 | $ 333,000 | $ 177,000 |
Note 3 - Loans and Allowance 49
Note 3 - Loans and Allowance for Loan Losses - Allowance Related to Troubled Debt Restructurings (Details) - USD ($) | Jun. 30, 2016 | Dec. 31, 2015 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Related allowance | $ 131,000 | $ 221,000 |
Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | ||
Related allowance | 43,000 | 186,000 |
Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | ||
Related allowance | 108,000 | 115,000 |
Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | ||
Related allowance | 180,000 | 201,000 |
Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residentia lRental Loan [Member] | ||
Related allowance | 294,000 | 365,000 |
Commercial Portfolio Segment [Member] | ||
Related allowance | 756,000 | 1,088,000 |
Retail Portfolio Segment [Member] | Home Equity and Other [Member] | ||
Related allowance | 48,000 | 14,000 |
Retail Portfolio Segment [Member] | One to Four Family Mortgages [Member] | ||
Related allowance | 5,000 | 6,000 |
Retail Portfolio Segment [Member] | ||
Related allowance | 53,000 | 20,000 |
Related allowance | $ 809,000 | $ 1,108,000 |
Note 4 - Premises and Equipme50
Note 4 - Premises and Equipment, Net (Details Textual) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Depreciation | $ 0.7 | $ 0.8 | $ 1.4 | $ 1.5 |
Note 4 - Premises and Equipme51
Note 4 - Premises and Equipment, Net - Summary of Premises and Equipment (Details) - USD ($) | Jun. 30, 2016 | Dec. 31, 2015 |
Land and Land Improvements [Member] | ||
Property, plant and equipment, gross | $ 16,438,000 | $ 16,529,000 |
Building [Member] | ||
Property, plant and equipment, gross | 39,422,000 | 39,394,000 |
Furniture and Fixtures [Member] | ||
Property, plant and equipment, gross | 17,072,000 | 16,978,000 |
Property, plant and equipment, gross | 72,932,000 | 72,901,000 |
Less: accumulated depreciation | 27,374,000 | 26,039,000 |
Premises and equipment, net | $ 45,558,000 | $ 46,862,000 |
Note 5 - Deposits (Details Text
Note 5 - Deposits (Details Textual) - USD ($) | 6 Months Ended | |
Jun. 30, 2016 | Dec. 31, 2015 | |
Deposits | $ 2,279,718,000 | $ 2,275,382,000 |
Increase (Decrease) in Deposits | $ 4,300,000 | |
Aggregate Increase (Decrease) in Percentage of Deposits | 0.20% | |
Time Deposits, at or Above FDIC Insurance Limit | $ 209,000,000 | $ 180,000,000 |
Note 5 - Deposits - Summary of
Note 5 - Deposits - Summary of Deposits (Details) - USD ($) | 6 Months Ended | |
Jun. 30, 2016 | Dec. 31, 2015 | |
Noninterest-bearing demand | $ 733,573,000 | $ 674,568,000 |
Noninterest-bearing demand | 32.20% | 29.60% |
Noninterest-bearing demand | 8.70% | |
Interest-bearing checking | $ 326,752,000 | $ 403,354,000 |
Interest-bearing checking | 14.30% | 17.70% |
Interest-bearing checking | (19.00%) | |
Money market | $ 305,217,000 | $ 274,395,000 |
Money market | 13.40% | 12.10% |
Money market | 11.20% | |
Savings | $ 341,445,000 | $ 332,794,000 |
Savings | 15.00% | 14.60% |
Savings | 2.60% | |
Time, under $100,000 | $ 146,477,000 | $ 155,655,000 |
Time, under $100,000 | 6.40% | 6.90% |
Time, under $100,000 | (5.90%) | |
Time, $100,000 and over | $ 329,601,000 | $ 313,247,000 |
Time, $100,000 and over | 14.50% | 13.80% |
Time, $100,000 and over | 5.20% | |
$ 2,183,065,000 | $ 2,154,013,000 | |
95.80% | 94.70% | |
1.30% | ||
Out-of-area time, under $100,000 | $ 0 | $ 149,000 |
Out-of-area time, under $100,000 | 0.00% | 0.10% |
Out-of-area time, $100,000 and over | $ 96,653,000 | $ 121,220,000 |
Out-of-area time, $100,000 and over | 4.20% | 5.30% |
Out-of-area time, $100,000 and over | (20.30%) | |
$ 96,653,000 | $ 121,369,000 | |
4.20% | 5.30% | |
(20.40%) | ||
Deposits | $ 2,279,718,000 | $ 2,275,382,000 |
Total deposits | 100.00% | 100.00% |
Aggregate Increase (Decrease) in Percentage of Deposits | 0.20% |
Note 6 - Securities Sold Unde54
Note 6 - Securities Sold Under Agreements to Repurchase (Details Textual) | 6 Months Ended |
Jun. 30, 2016 | |
Maximum [Member] | |
Repurchase Agreement Counterparty, Weighted Average Maturity of Agreements | 1 day |
Note 6 - Securities Sold Unde55
Note 6 - Securities Sold Under Agreements to Repurchase - Securities Sold Under Agreement to Repurchase (Details) - USD ($) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2016 | Dec. 31, 2015 | |
Securities sold under agreements to repurchase | $ 136,690,000 | $ 154,771,000 |
Average interest rate at end of period | 0.14% | 0.11% |
Average daily balance during the period | $ 153,578,000 | $ 146,826,000 |
Average interest rate during the period | 0.12% | 0.11% |
Maximum daily balance during the period | $ 175,088,000 | $ 168,211,000 |
Note 7 - Federal Home Loan Ba56
Note 7 - Federal Home Loan Bank of Indianapolis Advances (Details Textual) - USD ($) | Jun. 30, 2016 | Dec. 31, 2015 |
Federal Home Loan Bank of Indianapolis [Member] | Minimum [Member] | ||
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Interest Rate at Period End | 1.04% | 1.22% |
Federal Home Loan Bank of Indianapolis [Member] | Maximum [Member] | ||
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Interest Rate at Period End | 2.11% | 2.11% |
Federal Home Loan Bank of Indianapolis [Member] | ||
Long-term Federal Home Loan Bank Advances | $ 178,000,000 | $ 68,000,000 |
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Interest Rate | 1.47% | 1.49% |
Long-term Federal Home Loan Bank Advances | $ 178,000,000 | $ 68,000,000 |
Line of Credit Facility, Maximum Borrowing Capacity | 491,000,000 | |
Line of Credit Facility, Remaining Borrowing Capacity | $ 313,000,000 |
Note 7 - Federal Home Loan Ba57
Note 7 - Federal Home Loan Bank of Indianapolis Advances - Maturities of Currently Outstanding FHLB Advances (Details) | Jun. 30, 2016USD ($) |
2,016 | $ 3,000,000 |
2,017 | 45,000,000 |
2,018 | 20,000,000 |
2,019 | 20,000,000 |
2,020 | 20,000,000 |
Thereafter | $ 70,000,000 |
Note 8 - Commitments and Off-58
Note 8 - Commitments and Off-balance Sheet Risk (Details Textual) - USD ($) | 6 Months Ended | |
Jun. 30, 2016 | Dec. 31, 2015 | |
Interest Rate Swap [Member] | ||
Derivative, Notional Amount | $ 14,200,000 | |
Derivative, Fair Value, Net | $ (2,600,000) | |
Minimum [Member] | ||
Fees Accreted Into Income During Interest Rate Swap Agreements Term | 4 years | |
Maximum [Member] | ||
Fees Accreted Into Income During Interest Rate Swap Agreements Term | 15 years | |
Reserve or Liability Balance for Financial Instruments With Off Balance Sheet Risk | $ 0 | $ 0 |
Note 8 - Commitments and Off-59
Note 8 - Commitments and Off-balance Sheet Risk - Exposure to Credit Losses (Details) - USD ($) | Jun. 30, 2016 | Dec. 31, 2015 |
Unused lines of Credit [Member] | Commercial Portfolio Segment [Member] | ||
Contractual amounts of financial instruments with off-balance sheet risk | $ 516,345,000 | $ 522,658,000 |
Unused lines of Credit [Member] | One to Four Family Mortgages [Member] | ||
Contractual amounts of financial instruments with off-balance sheet risk | 59,163,000 | 61,905,000 |
Unused lines of Credit [Member] | Consumer Portfolio Segment [Member] | ||
Contractual amounts of financial instruments with off-balance sheet risk | 18,295,000 | 15,612,000 |
Unused lines of Credit [Member] | Consumer Other Financing Receivable 1 [Member] | ||
Contractual amounts of financial instruments with off-balance sheet risk | 6,970,000 | 8,583,000 |
Loan Origination Commitments [Member] | ||
Contractual amounts of financial instruments with off-balance sheet risk | 212,873,000 | 178,034,000 |
Standby Letters of Credit [Member] | ||
Contractual amounts of financial instruments with off-balance sheet risk | 33,206,000 | 34,946,000 |
Contractual amounts of financial instruments with off-balance sheet risk | $ 846,852,000 | $ 821,738,000 |
Note 9 - Hedging Activities (De
Note 9 - Hedging Activities (Details Textual) - USD ($) | 1 Months Ended | |||||
Jan. 31, 2016 | Feb. 29, 2012 | Jun. 30, 2016 | Jan. 26, 2016 | Jan. 25, 2016 | Dec. 31, 2015 | |
Junior Subordinated Debt [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||||
Debt Instrument, Basis Spread on Variable Rate | 2.18% | |||||
Derivative, Notional Amount | $ 32,000,000 | $ 21,000,000 | $ 32,000,000 | |||
Debt Instrument, Repurchased Face Amount | $ 11,000,000 | |||||
Interest Expense, Debt | $ 200,000 | |||||
Debt Instrument, Repurchase Amount | $ 11,000,000 | |||||
Fair Value of Interest Rate Swap Agreement Liability | $ 300,000 | $ 300,000 | ||||
Junior Subordinated Debenture Owed to Unconsolidated Subsidiary Trust | $ 32,000,000 | $ 44,494,000 | $ 55,154,000 |
Note 10 - Fair Values of Fina61
Note 10 - Fair Values of Financial Instruments - Fair Value Hierarchy of Financial Instruments (Details) - USD ($) | Jun. 30, 2016 | Dec. 31, 2015 | |
Fair Value, Inputs, Level 1 [Member] | Reported Value Measurement [Member] | |||
Cash | $ 12,406,000 | $ 12,496,000 | |
Fair Value, Inputs, Level 1 [Member] | Estimate of Fair Value Measurement [Member] | |||
Cash | 12,406,000 | 12,496,000 | |
Fair Value, Inputs, Level 1 [Member] | |||
Available-for-sale Securities | 0 | ||
Fair Value, Inputs, Level 2 [Member] | Reported Value Measurement [Member] | |||
Cash equivalents | 94,577,000 | 77,395,000 | |
Loans held for sale | 2,879,000 | 1,316,000 | |
Bank owned life insurance | 66,537,000 | 58,971,000 | |
Accrued interest receivable | 7,268,000 | 7,836,000 | |
Deposits | 2,279,718,000 | 2,275,382,000 | |
Repurchase agreements | 136,690,000 | 154,771,000 | |
FHLBI advances | 178,000,000 | 68,000,000 | |
Subordinated debentures | 44,494,000 | 55,154,000 | |
Accrued interest payable | 1,517 | 1,479 | |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | |||
Cash equivalents | 94,577,000 | 77,395,000 | |
Loans held for sale | 2,879,000 | 1,316,000 | |
Bank owned life insurance | 66,537,000 | 58,971,000 | |
Accrued interest receivable | 7,268,000 | 7,836,000 | |
Deposits | 2,226,310,000 | 2,208,724,000 | |
Repurchase agreements | 136,690,000 | 154,771,000 | |
FHLBI advances | 180,504,000 | 68,858,000 | |
Subordinated debentures | 44,505,000 | 55,760,000 | |
Accrued interest payable | 1,517 | 1,479 | |
Fair Value, Inputs, Level 3 [Member] | Reported Value Measurement [Member] | |||
Loans, net | 2,359,951,000 | 2,260,730,000 | |
Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value Measurement [Member] | |||
Loans, net | 2,356,483,000 | 2,259,710,000 | |
Reported Value Measurement [Member] | Interest Rate Swap [Member] | |||
Interest rate swap | [1] | 278,000 | 253,000 |
Reported Value Measurement [Member] | |||
Available-for-sale Securities | [1] | 323,452,000 | 346,992,000 |
FHLBI stock | [2] | 8,026,000 | 7,567,000 |
Estimate of Fair Value Measurement [Member] | Interest Rate Swap [Member] | |||
Interest rate swap | [1] | 278,000 | 253,000 |
Estimate of Fair Value Measurement [Member] | |||
Available-for-sale Securities | [1] | 323,452,000 | 346,992,000 |
FHLBI stock | [2] | 8,026,000 | 7,567,000 |
Available-for-sale Securities | $ 323,452,000 | $ 346,992,000 | |
[1] | See Note 11 for a description of the fair value hierarchy as well as a disclosure of levels for classes of financial assets and liabilities. | ||
[2] | It is not practical to determine the fair value of FHLBI stock due to transferability restrictions. |
Note 11 - Fair Values (Details
Note 11 - Fair Values (Details Textual) - USD ($) | Jun. 30, 2016 | Dec. 31, 2015 |
Available-for-sale Securities [Member] | ||
Valuation Allowances and Reserves, Balance | $ 0 | $ 0 |
Fair Value, Inputs, Level 1 [Member] | ||
Available-for-sale Securities | 0 | |
Available-for-sale Securities | 323,452,000 | 346,992,000 |
Loans Receivable Held-for-sale, Net, Not Part of Disposal Group, Mortgage | $ 2,900,000 | $ 1,300,000 |
Note 11 - Fair Values - Assets
Note 11 - Fair Values - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) | Jun. 30, 2016 | Dec. 31, 2015 |
Fair Value, Measurements, Recurring [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available-for-sale Securities | $ 0 | $ 0 |
Fair Value, Measurements, Recurring [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available-for-sale Securities | 132,942,000 | 147,040,000 |
Fair Value, Measurements, Recurring [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available-for-sale Securities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | US Government Agencies Debt Securities [Member] | ||
Available-for-sale Securities | 132,942,000 | 147,040,000 |
Fair Value, Measurements, Recurring [Member] | Collateralized Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available-for-sale Securities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Collateralized Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available-for-sale Securities | 57,545,000 | 67,074,000 |
Fair Value, Measurements, Recurring [Member] | Collateralized Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available-for-sale Securities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Collateralized Mortgage Backed Securities [Member] | ||
Available-for-sale Securities | 57,545,000 | 67,074,000 |
Fair Value, Measurements, Recurring [Member] | Municipal General Obligation Bonds [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available-for-sale Securities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Municipal General Obligation Bonds [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available-for-sale Securities | 115,917,000 | 113,604,000 |
Fair Value, Measurements, Recurring [Member] | Municipal General Obligation Bonds [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available-for-sale Securities | 6,469,000 | 8,419,000 |
Fair Value, Measurements, Recurring [Member] | Municipal General Obligation Bonds [Member] | ||
Available-for-sale Securities | 122,386,000 | 122,023,000 |
Fair Value, Measurements, Recurring [Member] | Municipal Revenue Bonds [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available-for-sale Securities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Municipal Revenue Bonds [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available-for-sale Securities | 8,593,000 | 8,914,000 |
Fair Value, Measurements, Recurring [Member] | Municipal Revenue Bonds [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available-for-sale Securities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Municipal Revenue Bonds [Member] | ||
Available-for-sale Securities | 8,593,000 | 8,914,000 |
Fair Value, Measurements, Recurring [Member] | Other Debt Obligations [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available-for-sale Securities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Other Debt Obligations [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available-for-sale Securities | 1,986,000 | 1,941,000 |
Fair Value, Measurements, Recurring [Member] | Other Debt Obligations [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available-for-sale Securities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Other Debt Obligations [Member] | ||
Available-for-sale Securities | 1,986,000 | 1,941,000 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Interest Rate Swap [Member] | ||
Interest rate swap | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Total | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Interest Rate Swap [Member] | ||
Interest rate swap | (278,000) | (253,000) |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Total | 316,705,000 | 338,320,000 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Interest Rate Swap [Member] | ||
Interest rate swap | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Total | 6,469,000 | 8,419,000 |
Fair Value, Measurements, Recurring [Member] | Interest Rate Swap [Member] | ||
Interest rate swap | (278,000) | (253,000) |
Fair Value, Measurements, Recurring [Member] | ||
Total | 323,174,000 | 346,739,000 |
US Government Agencies Debt Securities [Member] | ||
Available-for-sale Securities | 132,942,000 | 147,040,000 |
Collateralized Mortgage Backed Securities [Member] | ||
Available-for-sale Securities | 57,545,000 | 67,074,000 |
Municipal General Obligation Bonds [Member] | ||
Available-for-sale Securities | 122,386,000 | 122,023,000 |
Municipal Revenue Bonds [Member] | ||
Available-for-sale Securities | 8,593,000 | 8,914,000 |
Other Debt Obligations [Member] | ||
Available-for-sale Securities | 1,986,000 | 1,941,000 |
Fair Value, Inputs, Level 1 [Member] | ||
Available-for-sale Securities | 0 | |
Available-for-sale Securities | $ 323,452,000 | $ 346,992,000 |
Note 11 - Fair Values - Asset64
Note 11 - Fair Values - Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis (Details) - Fair Value, Measurements, Nonrecurring [Member] - USD ($) | Jun. 30, 2016 | Dec. 31, 2015 | |
Fair Value, Inputs, Level 1 [Member] | |||
Impaired loans (1) | [1] | $ 0 | $ 0 |
Foreclosed assets (1) | [1] | 0 | 0 |
Total | 0 | 0 | |
Fair Value, Inputs, Level 2 [Member] | |||
Impaired loans (1) | [1] | 0 | 0 |
Foreclosed assets (1) | [1] | 0 | 0 |
Total | 0 | 0 | |
Fair Value, Inputs, Level 3 [Member] | |||
Impaired loans (1) | [1] | 9,012,000 | 8,970,000 |
Foreclosed assets (1) | [1] | 815,000 | 1,293,000 |
Total | 9,827,000 | 10,263,000 | |
Impaired loans (1) | [1] | 9,012,000 | 8,970,000 |
Foreclosed assets (1) | [1] | 815,000 | 1,293,000 |
Total | $ 9,827,000 | $ 10,263,000 | |
[1] | Represents carrying value and related write-downs for which adjustments are based on the estimated value of the property or other assets. |
Note 12 - Regulatory Matters (D
Note 12 - Regulatory Matters (Details Textual) - USD ($) | Sep. 21, 2016 | Jul. 14, 2016 | Jun. 23, 2016 | Apr. 14, 2016 | Mar. 23, 2016 | Jan. 26, 2016 | Jan. 14, 2016 | Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Apr. 19, 2016 | Dec. 31, 2015 | Jan. 30, 2015 | Feb. 29, 2012 | Dec. 31, 2009 |
Fund [Member] | Mercantile Bank Capital TrustI [Member] | |||||||||||||||||
Preferred Securities of Subsidiary Trust | $ 11,000,000 | ||||||||||||||||
Mercantile Bank Capital TrustI [Member] | |||||||||||||||||
Preferred Securities of Subsidiary Trust | 32,000,000 | ||||||||||||||||
Payments for Repurchase of Trust Preferred Securities | 11,000,000 | ||||||||||||||||
Junior Subordinated Debenture Owed to Unconsolidated Subsidiary Trust | $ 21,000,000 | ||||||||||||||||
Percentage of Trust Preferred Securities Face Amount Paid | 73.00% | ||||||||||||||||
Discount Rate of Trust Preferred Securities | 27.00% | ||||||||||||||||
Gain (Loss) on Repurchase of Trust Preferred Securities, Before Tax | $ 3,000,000 | ||||||||||||||||
Gain (Loss) on Repurchase of Trust Preferred Securities | $ 1,800,000 | ||||||||||||||||
Gain (Loss) on Repurchase of Trust Preferred Securities Per Diluted Share | $ 0.11 | ||||||||||||||||
Subsequent Event [Member] | |||||||||||||||||
Common Stock, Dividends, Per Share, Declared | $ 0.17 | ||||||||||||||||
Common Stock, Dividends, Per Share, Cash Paid | $ 0.17 | ||||||||||||||||
Common Stock, Dividends, Per Share, Declared | $ 0.16 | $ 0.16 | |||||||||||||||
Common Stock, Dividends, Per Share, Cash Paid | $ 0.16 | $ 0.16 | $ 0.16 | $ 0.14 | $ 0.32 | $ 0.28 | |||||||||||
Trust Preferred Securities Included in Tier One Capital | $ 42,200,000 | $ 42,200,000 | $ 42,200,000 | $ 53,100,000 | |||||||||||||
Maximum Restricted Core Element Allowed in Tier One Capital Percent | 25.00% | ||||||||||||||||
Maximum Level of Consolidated Aggregate Assets Allowing for Inclusion of Trust Preferred Securities in Tier OneC apital | $ 15,000,000,000 | ||||||||||||||||
Preferred Securities of Subsidiary Trust | 42,200,000 | $ 42,200,000 | 42,200,000 | 53,100,000 | |||||||||||||
Payments for Repurchase of Trust Preferred Securities | 8,030,000 | $ 0 | |||||||||||||||
Junior Subordinated Debenture Owed to Unconsolidated Subsidiary Trust | 44,494,000 | 44,494,000 | $ 44,494,000 | $ 55,154,000 | $ 32,000,000 | ||||||||||||
Gain (Loss) on Repurchase of Trust Preferred Securities | $ 0 | $ 0 | $ 2,970,000 | $ 0 | |||||||||||||
Increase (Decrease) in Tangible Equity to Tangible Assets Ratio Basis Point | 0.09% | ||||||||||||||||
Increase (Decrease) in Tangible Book Value Per Share | $ 0.11 | ||||||||||||||||
Increase (Decrease) in Tier One Capital and Total Risk Based Capital Ratio Basis Point | (0.35%) | ||||||||||||||||
Increase (Decrease) in Capital Ratio Basis Point | (0.35%) | ||||||||||||||||
Stock Repurchase Program, Authorized Amount | $ 20,000,000 | ||||||||||||||||
Stock Repurchase Program Additional Authorized Amount | $ 15,000,000 | ||||||||||||||||
Stock Repurchased During Period, Shares | 168,000 | 956,000 | |||||||||||||||
Treasury Stock Acquired, Average Cost Per Share | $ 22.23 | $ 20.38 | |||||||||||||||
Stock Repurchased During Period, Value | $ 3,700,000 | $ 19,500,000 |
Note 12 - Regulatory Matters -
Note 12 - Regulatory Matters - Actual Capital Levels and Minimum Levels (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Consolidated Entities [Member] | ||
Total capital, amount | $ 347,819 | $ 345,539 |
Total capital, ratio | 13.00% | 13.50% |
Total capital minimum required for capital adequacy, amount | $ 214,866 | $ 205,602 |
Total capital minimum required for capital adequacy, ratio | 8.00% | 8.00% |
Tier 1 capital, amount | $ 330,710 | $ 329,858 |
Tier 1 capital, ratio | 12.30% | 12.80% |
Tier 1 capital minimum required for capital adequacy, amount | $ 161,150 | $ 154,201 |
Tier 1 capital minimum required for capital adequacy, ratio | 6.00% | 6.00% |
Common equity tier 1, amount | $ 288,289 | $ 280,171 |
Common equity tier 1, ratio | 10.70% | 10.90% |
Common equity tier 1 minimum required for capital adequacy, amount | $ 120,863 | $ 115,804 |
Common equity tier 1 capital minimum required for capital adequacy, ratio | 4.50% | 4.50% |
Tier 1 capital to average assets, amount | $ 330,710 | $ 329,858 |
Tier 1 capital to average assets, ratio | 11.40% | 11.60% |
Tiier 1 to average assets minimum required for capital adequacy, amount | $ 115,944 | $ 114,138 |
Tier 1 capital to average assets minimum required for capital adequacy, ratio | 4.00% | 4.00% |
Bank [Member] | ||
Total capital, amount | $ 350,224 | $ 347,433 |
Total capital, ratio | 13.10% | 13.50% |
Total capital minimum required for capital adequacy, amount | $ 214,632 | $ 205,624 |
Total capital minimum required for capital adequacy, ratio | 8.00% | 8.00% |
Total capital to be well capitalized, amount | $ 268,290 | $ 257,030 |
Total capital to be well capitalized, ratio | 10.00% | 10.00% |
Tier 1 capital, amount | $ 333,114 | $ 331,752 |
Tier 1 capital, ratio | 12.40% | 12.90% |
Tier 1 capital minimum required for capital adequacy, amount | $ 160,974 | $ 154,218 |
Tier 1 capital minimum required for capital adequacy, ratio | 6.00% | 6.00% |
Tier 1 capital to be well capitalized, amount | $ 214,632 | $ 205,624 |
Tier 1 capital to be well capitalized, ratio | 8.00% | 8.00% |
Common equity tier 1, amount | $ 333,114 | $ 331,752 |
Common equity tier 1, ratio | 12.40% | 12.90% |
Common equity tier 1 minimum required for capital adequacy, amount | $ 120,731 | $ 115,664 |
Common equity tier 1 capital minimum required for capital adequacy, ratio | 4.50% | 4.50% |
Common equity tier 1 capital to average assets to be well capitalized, amount | $ 174,388 | $ 167,070 |
Common equity tier 1 capital to be well capitalized, ratio | 6.50% | 6.50% |
Tier 1 capital to average assets, amount | $ 333,114 | $ 331,752 |
Tier 1 capital to average assets, ratio | 11.50% | 11.60% |
Tiier 1 to average assets minimum required for capital adequacy, amount | $ 115,924 | $ 114,280 |
Tier 1 capital to average assets minimum required for capital adequacy, ratio | 4.00% | 4.00% |
Tier 1 capital to average assets to be well capitalized, amount | $ 144,905 | $ 142,850 |
Tier 1 capital to average assets to be well capitalized, ratio | 5.00% | 5.00% |