Document And Entity Information
Document And Entity Information - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Feb. 28, 2020 | Jun. 30, 2019 | |
Document Information [Line Items] | |||
Entity Registrant Name | MERCANTILE BANK CORPORATION | ||
Entity Central Index Key | 0001042729 | ||
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 Emerging Growth Company | false | ||
Entity Small Business | false | ||
Entity Interactive Data Current | Yes | ||
Entity Common Stock, Shares Outstanding (in shares) | 16,332,104 | ||
Entity Public Float | $ 518 | ||
Entity Shell Company | false | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2019 | ||
Document Fiscal Year Focus | 2019 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false | ||
Title of 12(b) Security | Common Stock |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
ASSETS | ||
Cash and due from banks | $ 53,262,000 | $ 64,872,000 |
Interest-earning deposits | 180,469,000 | 10,482,000 |
Total cash and cash equivalents | 233,731,000 | 75,354,000 |
Securities available for sale | 334,655,000 | 337,366,000 |
Federal Home Loan Bank stock | 18,002,000 | 16,022,000 |
Loans | 2,856,667,000 | 2,753,085,000 |
Allowance for loan losses | (23,889,000) | (22,380,000) |
Loans, net | 2,832,778,000 | 2,730,705,000 |
Premises and equipment, net | 57,327,000 | 48,321,000 |
Bank owned life insurance | 70,297,000 | 69,647,000 |
Goodwill | 49,473,000 | 49,473,000 |
Core deposit intangible, net | 3,840,000 | 5,561,000 |
Other assets | 32,812,000 | 31,458,000 |
Total assets | 3,632,915,000 | 3,363,907,000 |
LIABILITIES AND SHAREHOLDERS' EQUITY | ||
Noninterest-bearing | 924,916,000 | 889,784,000 |
Interest-bearing | 1,765,468,000 | 1,573,924,000 |
Total deposits | 2,690,384,000 | 2,463,708,000 |
Securities sold under agreements to repurchase | 102,675,000 | 103,519,000 |
Federal Home Loan Bank advances | 354,000,000 | 350,000,000 |
Subordinated debentures | 46,881,000 | 46,199,000 |
Accrued interest and other liabilities | 22,414,000 | 25,232,000 |
Total liabilities | 3,216,354,000 | 2,988,658,000 |
Commitments and contingent liabilities (Note 14) | ||
Shareholders' equity | ||
Preferred stock, no par value; 1,000,000 shares authorized; 0 shares outstanding at December 31, 2019 and December 31, 2018 | 0 | 0 |
Common stock, no par value; 40,000,000 shares authorized; 16,425,136 shares outstanding at December 31, 2019 and 16,534,256 shares outstanding at December 31, 2018 | 305,035,000 | 308,005,000 |
Retained earnings | 107,831,000 | 75,483,000 |
Accumulated other comprehensive gain/(loss) | 3,695,000 | (8,239,000) |
Total shareholders’ equity | 416,561,000 | 375,249,000 |
Total liabilities and shareholders’ equity | $ 3,632,915,000 | $ 3,363,907,000 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - $ / shares $ / shares in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Preferred stock, par value (in dollars per share) | $ 0 | $ 0 |
Preferred stock, shares authorized (in shares) | 1,000,000 | 1,000,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
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) | 16,425,136 | 16,534,256 |
Common stock, shares issued (in shares) | 16,425,136 | 16,534,256 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Interest income | |||
Loans, including fees | $ 145,816,000 | $ 131,763,000 | $ 116,816,000 |
Securities, taxable | 7,919,000 | 6,736,000 | 5,326,000 |
Securities, tax-exempt | 2,231,000 | 2,239,000 | 2,305,000 |
Other interest-earning assets | 2,371,000 | 1,243,000 | 1,096,000 |
Total interest income | 158,337,000 | 141,981,000 | 125,543,000 |
Interest expense | |||
Deposits | 21,264,000 | 13,869,000 | 9,362,000 |
Short-term borrowings | 295,000 | 273,000 | 190,000 |
Federal Home Loan Bank advances | 8,977,000 | 4,647,000 | 3,657,000 |
Subordinated debentures and other borrowings | 3,267,000 | 3,110,000 | 2,586,000 |
Total interest expense | 33,803,000 | 21,899,000 | 15,795,000 |
Net interest income | 124,534,000 | 120,082,000 | 109,748,000 |
Provision for loan losses | 1,750,000 | 1,100,000 | 2,950,000 |
Net interest income after provision for loan losses | 122,784,000 | 118,982,000 | 106,798,000 |
Noninterest income: | |||
Mortgage banking activities | 8,485,000 | 4,109,000 | 4,421,000 |
Payroll processing | 1,626,000 | 1,462,000 | 1,305,000 |
Earnings on bank owned life insurance | 3,886,000 | 1,287,000 | 2,731,000 |
Letter of credit fees | 278,000 | 245,000 | 348,000 |
Other income | 2,172,000 | 2,195,000 | 1,203,000 |
Total noninterest income | 26,956,000 | 19,010,000 | 19,001,000 |
Noninterest expense | |||
Salaries and benefits | 53,833,000 | 50,910,000 | 45,397,000 |
Occupancy | 7,061,000 | 6,711,000 | 6,186,000 |
Furniture and equipment rent, depreciation and maintenance | 2,583,000 | 2,470,000 | 2,168,000 |
Data processing | 9,235,000 | 8,557,000 | 8,222,000 |
Advertising | 1,446,000 | 1,648,000 | 1,608,000 |
FDIC insurance costs | 225,000 | 930,000 | 960,000 |
Problem asset costs | 140,000 | 90,000 | 355,000 |
Other expense | 14,757,000 | 14,854,000 | 14,820,000 |
Total noninterest expenses | 89,280,000 | 86,170,000 | 79,716,000 |
Income before federal income tax expense | 60,460,000 | 51,822,000 | 46,083,000 |
Federal income tax expense | 11,004,000 | 9,798,000 | 14,809,000 |
Net income | $ 49,456,000 | $ 42,024,000 | $ 31,274,000 |
Earnings per common share: | |||
Basic (in dollars per share) | $ 3.01 | $ 2.53 | $ 1.90 |
Diluted (in dollars per share) | $ 3.01 | $ 2.53 | $ 1.90 |
Deposit Account [Member] | |||
Noninterest income: | |||
Noninterest income | $ 4,584,000 | $ 4,358,000 | $ 4,233,000 |
Credit and Debit Card [Member] | |||
Noninterest income: | |||
Noninterest income | $ 5,925,000 | $ 5,354,000 | $ 4,760,000 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Net income | $ 49,456,000 | $ 42,024,000 | $ 31,274,000 |
Other comprehensive income (loss): | |||
Unrealized holding gains (losses) on securities available for sale | 15,106,000 | (4,225,000) | 2,297,000 |
Fair value of interest rate swap | 0 | 2,000 | 82,000 |
Total other comprehensive income (loss) | 15,106,000 | (4,223,000) | 2,379,000 |
Tax effect of unrealized holding gains (losses) on securities available for sale | (3,172,000) | 846,000 | (804,000) |
Tax effect of fair value of interest rate swap | 0 | (1,000) | (28,000) |
Total tax effect of other comprehensive income (loss) | (3,172,000) | 845,000 | (832,000) |
Other comprehensive income (loss), net of tax effect | 11,934,000 | (3,378,000) | 1,547,000 |
Comprehensive income | $ 61,390,000 | $ 38,646,000 | $ 32,821,000 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity - USD ($) | Preferred Stock [Member] | Common Stock Including Additional Paid in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balances at Dec. 31, 2016 | $ 0 | $ 305,488,000 | $ 40,904,000 | $ (5,581,000) | $ 340,811,000 |
Employee stock purchase plan | 46,000 | 46,000 | |||
Dividend reinvestment plan | 1,576,000 | 1,576,000 | |||
Stock option exercises | 318,000 | 318,000 | |||
Stock grants to directors for retainer fees | 363,000 | 363,000 | |||
Stock-based compensation expense | 1,981,000 | 1,981,000 | |||
Cash dividends | (12,046,000) | (12,046,000) | |||
Net income | 31,274,000 | 31,274,000 | |||
Change in net unrealized gain/(loss) on securities available for sale, net of tax effect | 1,493,000 | 1,493,000 | |||
Reclassification of stranded tax effect related to available for sale securities resulting from Tax Cuts and Jobs Act | 869,000 | (869,000) | 0 | ||
Change in fair value of interest rate swap, net of tax effect | 54,000 | 54,000 | |||
Balances at Dec. 31, 2017 | 0 | 309,772,000 | 61,001,000 | (4,903,000) | 365,870,000 |
Employee stock purchase plan | 52,000 | 52,000 | |||
Dividend reinvestment plan | 1,165,000 | 1,165,000 | |||
Stock option exercises | 108,000 | 108,000 | |||
Stock grants to directors for retainer fees | 441,000 | 441,000 | |||
Stock-based compensation expense | 2,410,000 | 2,410,000 | |||
Cash dividends | (27,500,000) | (27,500,000) | |||
Net income | 42,024,000 | 42,024,000 | |||
Change in net unrealized gain/(loss) on securities available for sale, net of tax effect | (3,379,000) | (3,379,000) | |||
Change in fair value of interest rate swap, net of tax effect | 1,000 | 1,000 | |||
Reclassification of equity securities related to ASU 2016-01 adoption | (42,000) | 42,000 | 0 | ||
Share repurchase program | (5,943,000) | (5,943,000) | |||
Balances at Dec. 31, 2018 | 0 | 308,005,000 | 75,483,000 | (8,239,000) | 375,249,000 |
Employee stock purchase plan | 50,000 | 50,000 | |||
Dividend reinvestment plan | 729,000 | 729,000 | |||
Stock option exercises | 128,000 | 128,000 | |||
Stock grants to directors for retainer fees | 375,000 | 375,000 | |||
Stock-based compensation expense | 2,931,000 | 2,931,000 | |||
Cash dividends | (17,108,000) | (17,108,000) | |||
Net income | 49,456,000 | 49,456,000 | |||
Change in net unrealized gain/(loss) on securities available for sale, net of tax effect | 11,934,000 | 11,934,000 | |||
Share repurchase program | (7,183,000) | (7,183,000) | |||
Balances at Dec. 31, 2019 | $ 0 | $ 305,035,000 | $ 107,831,000 | $ 3,695,000 | $ 416,561,000 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Shareholders' Equity (Parentheticals) - $ / shares | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Common Stock Including Additional Paid in Capital [Member] | |||
Employee stock purchase plan (in shares) | 1,507 | 1,579 | 1,351 |
Dividend reinvestment plan (in shares) | 21,503 | 37,450 | 48,012 |
Stock option exercises (in shares) | 8,200 | 11,481 | 28,082 |
Stock grants to directors (in shares) | 11,905 | 12,404 | 11,712 |
Share repurchase program (in shares) | 233,300 | 199,905 | |
Retained Earnings [Member] | |||
Cash dividends per common share (in dollars per share) | $ 1.06 | $ 1.68 | $ 0.74 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Cash flows from operating activities | |||
Net income | $ 49,456,000 | $ 42,024,000 | $ 31,274,000 |
Adjustments to reconcile net income to net cash from operating activities: | |||
Depreciation and amortization | 9,553,000 | 9,766,000 | 10,358,000 |
Accretion of acquired loans | (686,000) | (1,373,000) | (2,338,000) |
Provision for loan losses | 1,750,000 | 1,100,000 | 2,950,000 |
Deferred income tax expense (benefit) | 26,000 | (372,000) | 831,000 |
Stock-based compensation expense | 2,931,000 | 2,410,000 | 1,981,000 |
Stock grants to directors for retainer fee | 375,000 | 441,000 | 363,000 |
Proceeds from sales of mortgage loans held for sale | 261,021,000 | 101,146,000 | 111,311,000 |
Origination of mortgage loans held for sale | (256,767,000) | (96,179,000) | (108,857,000) |
Net gain on sales of mortgage loans held for sale | (8,108,000) | (3,536,000) | (3,972,000) |
Net gain from sales and valuation write-downs of foreclosed assets | (254,000) | (169,000) | (319,000) |
Net (gain) loss from sale and write-downs on former bank premises | (436,000) | (78,000) | 133,000 |
Net loss from sales and disposals of premises and equipment | 294,000 | 134,000 | 71,000 |
Net gain from sales of available for sale securities | 0 | 0 | (37,000) |
Earnings on bank owned life insurance | (3,886,000) | (1,287,000) | (2,731,000) |
Net change in: | |||
Accrued interest receivable | (48,000) | (1,126,000) | (1,056,000) |
Other assets | (7,636,000) | (2,193,000) | (354,000) |
Accrued interest and other liabilities | (2,818,000) | 11,029,000 | (943,000) |
Net cash from operating activities | 44,767,000 | 61,737,000 | 38,665,000 |
Cash flows from investing activities | |||
Purchases of securities available for sale | (62,084,000) | (48,664,000) | (67,027,000) |
Proceeds from maturities, calls and repayments of securities available for sale | 79,478,000 | 40,308,000 | 52,504,000 |
Proceeds from sales of securities available for sale | 0 | 0 | 7,619,000 |
Purchases of Federal Home Loan Bank stock | (1,980,000) | (4,986,000) | (3,010,000) |
Loan originations and payments, net | (99,620,000) | (193,556,000) | (178,373,000) |
Purchases of bank owned life insurance | (4,500,000) | 0 | (1,500,000) |
Proceeds from bank owned life insurance cash value release and death benefits | 7,708,000 | 0 | 2,720,000 |
Purchases of premises and equipment, net | (13,484,000) | (6,318,000) | (5,423,000) |
Proceeds from sales of former bank premises | 854,000 | 1,964,000 | 25,000 |
Proceeds from sales of foreclosed assets | 790,000 | 772,000 | 993,000 |
Net cash for investing activities | (92,838,000) | (210,480,000) | (191,472,000) |
Cash flows from financing activities | |||
Net (decrease) increase in time deposits | 170,921,000 | (30,091,000) | (55,839,000) |
Net (decrease) increase in all other deposits | 55,755,000 | (28,566,000) | 203,219,000 |
Net decrease in securities sold under agreements to repurchase | (844,000) | (15,229,000) | (12,962,000) |
Proceeds from Federal Home Loan Bank advances | 44,000,000 | 160,000,000 | 90,000,000 |
Maturities of Federal Home Loan Bank advances | (40,000,000) | (30,000,000) | (45,000,000) |
Proceeds from stock option exercises, net of cashless exercises | 128,000 | 108,000 | 318,000 |
Employee stock purchase plan | 50,000 | 52,000 | 46,000 |
Dividend reinvestment plan | 729,000 | 1,165,000 | 1,576,000 |
Repurchases of common stock | (7,183,000) | (5,943,000) | 0 |
Payment of cash dividends to common shareholders | (17,108,000) | (27,500,000) | (12,046,000) |
Net cash from financing activities | 206,448,000 | 23,996,000 | 169,312,000 |
Net change in cash and cash equivalents | 158,377,000 | (124,747,000) | 16,505,000 |
Cash and cash equivalents at beginning of period | 75,354,000 | 200,101,000 | 183,596,000 |
Cash and cash equivalents at end of period | 233,731,000 | 75,354,000 | 200,101,000 |
Supplemental disclosures of cash flows information | |||
Interest | 32,103,000 | 21,569,000 | 15,468,000 |
Federal income taxes | 11,975,000 | 10,075,000 | 14,225,000 |
Transfers from loans to foreclosed assets | 337,000 | 744,000 | 887,000 |
Transfers from bank premises to other real estate owned | $ 258,000 | $ 296,000 | $ 1,736,000 |
Note 1 - Summary of Significant
Note 1 - Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | NOTE 1 Principles of Consolidation Mercantile has five not Nature of Operations July 15, 1997 December 15, 1997. $1.5 46 June 1, 2014. Our bank is a community-based financial institution. Our bank’s primary deposit products are checking, savings, and term certificate accounts, and its primary lending products are commercial loans, residential mortgage loans, and instalment loans. Substantially all loans are secured by specific items of collateral including business assets, real estate or consumer assets. Commercial loans are expected to be repaid from cash flow from operations of businesses. Real estate loans are secured by commercial or residential real estate. We have no one Our real estate company was organized on July 21, 2003, second 2005. Our insurance company acquired an existing shelf insurance agency effective April 15, 2002. not no We have evaluated subsequent events for potential recognition and/or disclosure through the date these financial statements were issued. Use of Estimates Cash and Cash Equivalents and Cash Flow Reporting 90 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 impairment (“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 not two 1 2 Loans $0.5 $0.9 December 31, 2019 2018. Interest income on commercial loans and mortgage loans is discontinued at the time the loan is 90 no 120 All interest accrued but not Loans Held for Sale Year-end mortgage loans held for sale, included in total loans in the balance sheet, were as follows: 2019 2018 Mortgage loans held for sale $ 4,978,000 $ 1,122,000 Less: Allowance to adjust to lower of cost or market 0 0 Mortgage loans held for sale, net $ 4,978,000 $ 1,122,000 Mortgage Loan Derivatives not December 31, 2019 2018. Mortgage Banking Activities Servicing fee income is recorded for fees earned for servicing 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 statements of income. Troubled Debt Restructurings not may 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 two Allowance for Loan Losses may A loan is considered 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 and collateral value. Loans that experience insignificant payment delays and payment shortfalls generally are not Transfers of Financial Assets 1 2 3 not Premises and Equipment 5 33 3 7 may not Foreclosed Assets: $0.5 $0.8 December 31, 2019 2018, Bank Owned Life Insurance: Goodwill and Core Deposit Intangible may not may not not 2018 2019, not no The core deposit intangible that arose from the merger with Firstbank was initially measured at fair value and is being amortized into noninterest expense over a ten Repurchase Agreements Financial Instruments and Loan Commitments Stock-Based Compensation Revenue from Contracts with Customers 606, 606” 606, No Our primary sources of revenue are derived from interest and dividends earned on loans, securities and other financial instruments that are not 606. not We generally satisfy our performance obligations on contracts with customers as services are rendered, and the transaction prices are typically fixed and charged either on a periodic basis (generally monthly) or based on activity. Because performance obligations are satisfied as services are rendered and the transaction prices are fixed, there is little judgment involved in applying Topic 606 Advertising Costs Income Taxes Fair Values of Financial Instruments not not Earnings Per Share Comprehensive Income Derivatives not 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 assets and liabilities 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 If designated as a hedge, we formally document the relationship between the derivative instrument and the hedged item, as well as the risk-management objective and the strategy for undertaking the hedge transaction. This documentation includes linking cash flow hedges to specific assets 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 instrument that is used is 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 no Contingencies: not Reclassifications Accounting Standards Updates February 2016, 2016 02, Leases 2018 01, 2018 10, 2018 11 2018 20 12 December 15, 2018. January 1, 2019 $1.3 In June 2016, No. 2016 13, Measurement of Credit Losses on Financial Instruments 2018 19 not not December 15, 2019. We will adopt the guidance prospectively with a cumulative adjustment to retained earnings effective January 1, 2020. $1.0 $0.8 not no |
Note 2 - Business Combination
Note 2 - Business Combination | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | NOTE 2 We completed the merger of Firstbank Corporation (“Firstbank”), a Michigan corporation with approximately $1.5 46 June 1, 2014 ( one 8,087,272 The Firstbank transaction was accounted for using the acquisition method of accounting and accordingly, assets acquired, liabilities assumed and consideration exchanged were recorded at estimated fair value on the Merger Date. Goodwill of $49.5 two two None In most instances, determining the fair value of the acquired assets and assumed liabilities required us to estimate cash flows expected to result from those assets and liabilities and to discount those cash flows at appropriate rates of interest. The most significant of those determinations relates to the valuation of acquired loans. For such loans, the excess of cash flows expected at acquisition over the estimated fair value is recognized as interest income over the remaining lives of the loans. The difference between contractually required payments at acquisition and the cash flows expected to be collected at acquisition reflects the impact of estimated credit losses and other factors, such as prepayments. In accordance with the applicable accounting guidance for business combinations, there was no The acquired loans were divided into loans with evidence of credit quality deterioration, which are accounted for under ASC 310 30 not 310 20 |
Note 3 - Securities
Note 3 - Securities | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | NOTE 3 The amortized cost and fair value of available for sale securities and the related gross unrealized gains and losses recognized in accumulated other comprehensive income (loss) were as follows: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value 2019 U.S. Government agency debt obligations $ 185,103,000 $ 2,449,000 $ (1,142,000 ) $ 186,410,000 Mortgage-backed securities 41,998,000 554,000 (82,000 ) 42,470,000 Municipal general obligation bonds 98,245,000 2,864,000 (30,000 ) 101,079,000 Municipal revenue bonds 4,133,000 63,000 0 4,196,000 Other investments 500,000 0 0 500,000 $ 329,979,000 $ 5,930,000 $ (1,254,000 ) $ 334,655,000 201 8 U.S. Government agency debt obligations $ 196,109,000 $ 310,000 $ (9,342,000 ) $ 187,077,000 Mortgage-backed securities 44,263,000 187,000 (792,000 ) 43,658,000 Municipal general obligation bonds 103,235,000 427,000 (1,165,000 ) 102,497,000 Municipal revenue bonds 3,688,000 4,000 (58,000 ) 3,634,000 Other investments 500,000 0 0 500,000 $ 347,795,000 $ 928,000 $ (11,357,000 ) $ 337,366,000 Securities with unrealized losses at year-end 2019 2018, Less than 12 Months 12 Months or More Total Description of Securities Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss 2019 U.S. Government agency debt obligations $ 25,650,000 $ 349,000 $ 73,913,000 $ 793,000 $ 99,563,000 $ 1,142,000 Mortgage-backed securities 2,838,000 28,000 10,423,000 54,000 13,261,000 82,000 Municipal general obligation bonds 3,755,000 18,000 994,000 12,000 4,749,000 30,000 Municipal revenue bonds 0 0 0 0 0 0 Other investments 0 0 0 0 0 0 $ 32,243,000 $ 395,000 $ 85,330,000 $ 859,000 $ 117,573,000 $ 1,254,000 201 8 U.S. Government agency debt obligations $ 31,220,000 $ 1,136,000 $ 136,445,000 $ 8,206,000 $ 167,665,000 $ 9,342,000 Mortgage-backed securities 11,460,000 136,000 23,762,000 656,000 35,222,000 792,000 Municipal general obligation bonds 28,923,000 299,000 43,961,000 866,000 72,884,000 1,165,000 Municipal revenue bonds 1,188,000 11,000 1,372,000 47,000 2,560,000 58,000 Other investments 0 0 0 0 0 0 $ 72,791,000 $ 1,582,000 $ 205,540,000 $ 9,775,000 $ 278,331,000 $ 11,357,000 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 not may At December 31, 2019, 107 $118 $1.3 not not not no The amortized cost and fair values of debt securities at December 31, 2019, may may not Weighted Average Yield Amortized Cost Fair Value Due in one year or less 2.04% $ 14,118,000 $ 14,136,000 Due from one to five years 2.36 52,865,000 53,389,000 Due from five to ten years 2.66 105,156,000 106,960,000 Due after ten years 3.09 115,342,000 117,200,000 Mortgage-backed securities 2.76 41,998,000 42,470,000 Other investments 5.88 500,000 500,000 2.76% $ 329,979,000 $ 334,655,000 No 2019 2018. $5.0 2017, No 2019 2018. $2.6 2017, Securities issued by the State of Michigan and all its political subdivisions had a combined amortized cost of $96.5 $98.2 December 31, 2019 December 31, 2018, $99.4 $97.4 $5.9 $8.7 December 31, 2019 December 31, 2018, $5.9 $8.7 not 10% The carrying value of U.S. Government agency debt obligations and mortgage-backed securities that are pledged to secure repurchase agreements was $103 $104 December 31, 2019 2018, may |
Note 4 - Loans and Allowance fo
Note 4 - Loans and Allowance for Loan Losses | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | NOTE 4 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 Acquired loans were recorded at estimated fair value at acquisition. 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 not 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 acquisition is accreted into interest 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 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 Sheets, reflects estimated future credit losses and uncollectable 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 contractually required payments receivable and estimate cash flows expected to be collected over the lives of the impaired loans. Contractually required payments receivable may not Increases in expected cash flows of acquired impaired loans subsequent to acquisition 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. Year-end loans disaggregated by class of loan within the loan portfolio segments were as follows: December 31, 2019 December 31, 2018 Percent Increase Balance % Balance % (Decrease) Originated Loans Commercial: Commercial and industrial $ 799,421,000 30.6 % $ 768,698,000 31.3 % 4.0 % Vacant land, land development, and residential construction 52,097,000 2.0 39,950,000 1.6 30.4 Real estate – owner occupied 542,561,000 20.8 500,188,000 20.4 8.5 Real estate – non-owner occupied 776,994,000 29.7 745,127,000 30.4 4.3 Real estate – multi-family and residential rental 100,344,000 3.8 98,035,000 4.0 2.4 Total commercial 2,271,417,000 86.9 2,151,998,000 87.7 5.5 Retail: Home equity and other 61,060,000 2.3 65,023,000 2.7 (6.1 ) 1-4 family mortgages 282,248,000 10.8 235,425,000 9.6 19.9 Total retail 343,308,000 13.1 300,448,000 12.3 14.3 Total originated loans $ 2,614,725,000 100.0 % $ 2,452,446,000 100.0 % 6.6 % December 31, 2019 December 31, 2018 Percent Increase Balance % Balance % (Decrease) Acquired Loans Commercial: Commercial and industrial $ 47,130,000 19.4 % $ 54,025,000 18.0 % (12.8 %) Vacant land, land development, and residential construction 4,022,000 1.7 4,935,000 1.6 (18.5 ) Real estate – owner occupied 36,442,000 15.1 48,431,000 16.1 (24.8 ) Real estate – non-owner occupied 58,352,000 24.1 71,155,000 23.7 (18.0 ) Real estate – multi-family and residential rental 24,181,000 10.0 29,562,000 9.8 (18.2 ) Total commercial 170,127,000 70.3 208,108,000 69.2 (18.3 ) Retail: Home equity and other 14,314,000 5.9 20,416,000 6.8 (29.9 ) 1-4 family mortgages 57,501,000 23.8 72,115,000 24.0 (20.3 ) Total retail 71,815,000 29.7 92,531,000 30.8 (22.4 ) Total acquired loans $ 241,942,000 100.0 % $ 300,639,000 100.0 % (19.5 %) December 31, 2019 December 31, 2018 Percent Increase Balance % Balance % (Decrease) Total Loans Commercial: Commercial and industrial $ 846,551,000 29.6 % $ 822,723,000 29.9 % 2.9 % Vacant land, land development, and residential construction 56,119,000 2.0 44,885,000 1.6 25.0 Real estate – owner occupied 579,003,000 20.3 548,619,000 19.9 5.5 Real estate – non-owner occupied 835,346,000 29.2 816,282,000 29.7 2.3 Real estate – multi-family and residential rental 124,525,000 4.4 127,597,000 4.6 (2.4 ) Total commercial 2,441,544,000 85.5 2,360,106,000 85.7 3.5 Retail: Home equity and other 75,374,000 2.6 85,439,000 3.1 (11.8 ) 1-4 family mortgages 339,749,000 11.9 307,540,000 11.2 10.5 Total retail 415,123,000 14.5 392,979,000 14.3 5.6 Total loans $ 2,856,667,000 100.0 % $ 2,753,085,000 100.0 % 3.8 % The total contractually required payments and carrying value of acquired impaired loans were $5.7 $3.4 December 31, 2019. $8.0 $4.6 December 31, 2018. December 31, 2019 December 31, 2018 2019 Balance at December 31, 2018 $ 1,274,000 Additions 9,000 Accretion income (407,000 ) Net reclassification from nonaccretable to accretable 488,000 Reductions (1) (88,000 ) Balance at December 31, 2019 $ 1,276,000 2018 Balance at December 31, 2017 $ 1,404,000 Additions 0 Accretion income (490,000 ) Net reclassification from nonaccretable to accretable 437,000 Reductions (1) (77,000 ) Balance at December 31, 2018 $ 1,274,000 ( 1 Concentrations within the loan portfolio were as follows at year-end: 2019 2018 Percentage of Percentage of Balance Loan Portfolio Balance Loan Portfolio Commercial real estate loans to lessors of non-residential buildings $ 580,708,000 20.3 % $ 568,134,000 20.6 % Year-end nonperforming originated loans were as follows: 2019 2018 Loans past due 90 days or more still accruing interest $ 0 $ 0 Nonaccrual loans 677,000 803,000 Total nonperforming loans $ 677,000 $ 803,000 Year-end nonperforming acquired loans were as follows: 2019 2018 Loans past due 90 days or more still accruing interest $ 0 $ 0 Nonaccrual loans 1,607,000 3,338,000 Total nonperforming loans $ 1,607,000 $ 3,338,000 The recorded principal balance of all nonperforming loans was as follows: December 31, 2019 December 31, 2018 Commercial: Commercial and industrial $ 0 $ 17,000 Vacant land, land development, and residential construction 0 0 Real estate – owner occupied 134,000 950,000 Real estate – non-owner occupied 0 0 Real estate – multi-family and residential rental 2,000 141,000 Total commercial 136,000 1,108,000 Retail: Home equity and other 255,000 454,000 1-4 family mortgages 1,893,000 2,579,000 Total retail 2,148,000 3,033,000 Total nonperforming loans $ 2,284,000 $ 4,141,000 Acquired impaired loans are not An age analysis of past due loans is as follows as of December 31, 2019: 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 $ 799,421,000 $ 799,421,000 $ 0 Vacant land, land development, and residential construction 0 0 0 0 52,097,000 52,097,000 0 Real estate – owner occupied 0 0 134,000 134,000 542,427,000 542,561,000 0 Real estate – non-owner occupied 0 0 0 0 776,994,000 776,994,000 0 Real estate – multi-family and residential rental 0 0 0 0 100,344,000 100,344,000 0 Total commercial 0 0 134,000 134,000 2,271,283,000 2,271,417,000 0 Retail: Home equity and other 107,000 50,000 0 157,000 60,903,000 61,060,000 0 1- 4 family mortgages 61,000 0 130,000 191,000 282,057,000 282,248,000 0 Total retail 168,000 50,000 130,000 348,000 342,960,000 343,308,000 0 Total past due loans $ 168,000 $ 50,000 $ 264,000 $ 482,000 $ 2,614,243,000 $ 2,614,725,000 $ 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 $ 0 $ 0 $ 0 $ 47,130,000 $ 47,130,000 $ 0 Vacant land, land development, and residential construction 191,000 0 0 191,000 3,831,000 4,022,000 0 Real estate – owner occupied 0 0 0 0 36,442,000 36,442,000 0 Real estate – non-owner occupied 0 0 0 0 58,352,000 58,352,000 0 Real estate – multi-family and residential rental 0 0 0 0 24,181,000 24,181,000 0 Total commercial 191,000 0 0 191,000 169,936,000 170,127,000 0 Retail: Home equity and other 64,000 15,000 20,000 99,000 14,215,000 14,314,000 0 1- 4 family mortgages 684,000 29,000 399,000 1,112,000 56,389,000 57,501,000 0 Total retail 748,000 44,000 419,000 1,211,000 70,604,000 71,815,000 0 Total past due loans $ 939,000 $ 44,000 $ 419,000 $ 1,402,000 $ 240,540,000 $ 241,942,000 $ 0 An age analysis of past due loans is as follows as of December 31, 2018: 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 $ 186,000 $ 0 $ 0 $ 186,000 $ 768,512,000 $ 768,698,000 $ 0 Vacant land, land development, and residential construction 0 0 0 0 39,950,000 39,950,000 0 Real estate – owner occupied 0 0 0 0 500,188,000 500,188,000 0 Real estate – non-owner occupied 0 0 0 0 745,127,000 745,127,000 0 Real estate – multi-family and residential rental 0 0 0 0 98,035,000 98,035,000 0 Total commercial 186,000 0 0 186,000 2,151,812,000 2,151,998,000 0 Retail: Home equity and other 44,000 0 0 44,000 64,979,000 65,023,000 0 1- 4 family mortgages 291,000 0 137,000 428,000 234,997,000 235,425,000 0 Total retail 335,000 0 137,000 472,000 299,976,000 300,448,000 0 Total past due loans $ 521,000 $ 0 $ 137,000 $ 658,000 $ 2,451,788,000 $ 2,452,446,000 $ 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 $ 8,000 $ 0 $ 0 $ 8,000 $ 54,017,000 $ 54,025,000 $ 0 Vacant land, land development, and residential construction 19,000 0 0 19,000 4,916,000 4,935,000 0 Real estate – owner occupied 108,000 950,000 0 1,058,000 47,373,000 48,431,000 0 Real estate – non-owner occupied 62,000 0 0 62,000 71,093,000 71,155,000 0 Real estate – multi-family and residential rental 0 0 0 0 29,562,000 29,562,000 0 Total commercial 197,000 950,000 0 1,147,000 206,961,000 208,108,000 0 Retail: Home equity and other 167,000 31,000 0 198,000 20,218,000 20,416,000 0 1- 4 family mortgages 821,000 347,000 612,000 1,780,000 70,335,000 72,115,000 0 Total retail 988,000 378,000 612,000 1,978,000 90,553,000 92,531,000 0 Total past due loans $ 1,185,000 $ 1,328,000 $ 612,000 $ 3,125,000 $ 297,514,000 $ 300,639,000 $ 0 Impaired originated loans with no December 31, 2019: Unpaid Contractual Principal Balance Recorded Principal Balance Related Allowance Year-To- Date Average Recorded Principal Balance With no related allowance recorded: Commercial: Commercial and industrial $ 7,826,000 $ 7,826,000 $ 11,259,000 Vacant land, land development and residential construction 85,000 85,000 89,000 Real estate – owner occupied 655,000 607,000 893,000 Real estate – non-owner occupied 0 0 0 Real estate – multi-family and residential rental 0 0 25,000 Total commercial 8,566,000 8,518,000 12,266,000 Retail: Home equity and other 708,000 691,000 682,000 1-4 family mortgages 1,117,000 514,000 385,000 Total retail 1,825,000 1,205,000 1,067,000 Total with no related allowance recorded $ 10,391,000 $ 9,723,000 $ 13,333,000 Impaired originated loans with an allowance recorded and total impaired originated loans were as follows as of December 31, 2019: Unpaid Contractual Principal Balance Recorded Principal Balance Related Allowance Year-To- Date Average Recorded Principal Balance With an allowance recorded: Commercial: Commercial and industrial $ 332,000 $ 332,000 $ 172,000 $ 5,567,000 Vacant land, land development and residential construction 0 0 0 0 Real estate – owner occupied 978,000 978,000 978,000 1,573,000 Real estate – non-owner occupied 0 0 0 0 Real estate – multi-family and residential rental 0 0 0 53,000 Total commercial 1,310,000 1,310,000 1,150,000 7,193,000 Retail: Home equity and other 347,000 332,000 247,000 383,000 1-4 family mortgages 0 0 0 267,000 Total retail 347,000 332,000 247,000 650,000 Total with an allowance recorded $ 1,657,000 $ 1,642,000 $ 1,397,000 $ 7,843,000 Total impaired loans: Commercial $ 9,876,000 $ 9,828,000 $ 1,150,000 $ 19,459,000 Retail 2,172,000 1,537,000 247,000 1,717,000 Total impaired originated loans $ 12,048,000 $ 11,365,000 $ 1,397,000 $ 21,176,000 Impaired acquired loans with no December 31, 2019: Unpaid Contractual Principal Balance Recorded Principal Balance Related Allowance Year-To- Date Average Recorded Principal Balance With no related allowance recorded: Commercial: Commercial and industrial $ 303,000 $ 303,000 $ 351,000 Vacant land, land development and residential construction 0 0 0 Real estate – owner occupied 60,000 60,000 627,000 Real estate – non-owner occupied 178,000 178,000 131,000 Real estate – multi-family and residential rental 29,000 9,000 19,000 Total commercial 570,000 550,000 1,128,000 Retail: Home equity and other 571,000 518,000 521,000 1-4 family mortgages 2,155,000 1,454,000 1,693,000 Total retail 2,726,000 1,972,000 2,214,000 Total with no related allowance recorded $ 3,296,000 $ 2,522,000 $ 3,342,000 Impaired acquired loans with an allowance recorded and total impaired acquired loans were as follows as of December 31, 2019: Unpaid Contractual Principal Balance Recorded Principal Balance Related Allowance Year-To- Date Average Recorded Principal Balance With an allowance recorded: Commercial: Commercial and industrial $ 128,000 $ 126,000 $ 30,000 $ 142,000 Vacant land, land development and residential construction 0 0 0 0 Real estate – owner occupied 100,000 100,000 4,000 99,000 Real estate – non-owner occupied 0 0 0 80,000 Real estate – multi-family and residential rental 0 0 0 1,000 Total commercial 228,000 226,000 34,000 322,000 Retail: Home equity and other 155,000 153,000 109,000 275,000 1-4 family mortgages 358,000 356,000 83,000 393,000 Total retail 513,000 509,000 192,000 668,000 Total with an allowance recorded $ 741,000 $ 735,000 $ 226,000 $ 990,000 Total impaired loans: Commercial $ 798,000 $ 776,000 $ 34,000 $ 1,450,000 Retail 3,239,000 2,481,000 192,000 2,882,000 Total impaired acquired loans $ 4,037,000 $ 3,257,000 $ 226,000 $ 4,332,000 Impaired originated loans with no December 31, 2018: Unpaid Contractual Principal Balance Recorded Principal Balance Related Allowance Year-To- Date Average Recorded Principal Balance With no related allowance recorded: Commercial: Commercial and industrial $ 8,604,000 $ 8,604,000 $ 2,096,000 Vacant land, land development and residential construction 94,000 94,000 65,000 Real estate – owner occupied 632,000 632,000 1,145,000 Real estate – non-owner occupied 0 0 0 Real estate – multi-family and residential rental 0 0 187,000 Total commercial 9,330,000 9,330,000 3,493,000 Retail: Home equity and other 607,000 586,000 691,000 1-4 family mortgages 1,053,000 390,000 414,000 Total retail 1,660,000 976,000 1,105,000 Total with no related allowance recorded $ 10,990,000 $ 10,306,000 $ 4,598,000 Impaired originated loans with an allowance recorded and total impaired originated loans were as follows as of December 31, 2018: Unpaid Contractual Principal Balance Recorded Principal Balance Related Allowance Year-To- Date Average Recorded Principal Balance With an allowance recorded: Commercial: Commercial and industrial $ 5,011,000 $ 5,011,000 $ 83,000 $ 3,455,000 Vacant land, land development and residential construction 0 0 0 0 Real estate – owner occupied 2,658,000 2,658,000 363,000 2,072,000 Real estate – non-owner occupied 0 0 0 0 Real estate – multi-family and residential rental 140,000 135,000 5,000 112,000 Total commercial 7,809,000 7,804,000 451,000 5,639,000 Retail: Home equity and other 442,000 431,000 193,000 600,000 1-4 family mortgages 409,000 341,000 44,000 299,000 Total retail 851,000 772,000 237,000 899,000 Total with an allowance recorded $ 8,660,000 $ 8,576,000 $ 688,000 $ 6,538,000 Total impaired loans: Commercial $ 17,139,000 $ 17,134,000 $ 451,000 $ 9,132,000 Retail 2,511,000 1,748,000 237,000 2,004,000 Total impaired originated loans $ 19,650,000 $ 18,882,000 $ 688,000 $ 11,136,000 Impaired acquired loans with no December 31, 2018: Unpaid Contractual Principal Balance Recorded Principal Balance Related Allowance Year-To- Date Average Recorded Principal Balance With no related allowance recorded: Commercial: Commercial and industrial $ 398,000 $ 398,000 $ 690,000 Vacant land, land development and residential construction 0 0 0 Real estate – owner occupied 1,193,000 1,193,000 749,000 Real estate – non-owner occupied 0 0 182,000 Real estate – multi-family and residential rental 45,000 26,000 73,000 Total commercial 1,636,000 1,617,000 1,694,000 Retail: Home equity and other 388,000 361,000 615,000 1-4 family mortgages 2,494,000 1,849,000 2,031,000 Total retail 2,882,000 2,210,000 2,646,000 Total with no related allowance recorded $ 4,518,000 $ 3,827,000 $ 4,340,000 Impaired acquired loans with an allowance recorded and total impaired acquired loans were as follows as of December 31, 2018: Unpaid Contractual Principal Balance Recorded Principal Balance Related Allowance Year-To- Date Average Recorded Principal Balance With an allowance recorded: Commercial: Commercial and industrial $ 175,000 $ 166,000 $ 43,000 $ 33,000 Vacant land, land development and residential construction 0 0 0 0 Real estate – owner occupied 147,000 147,000 0 349,000 Real estate – non-owner occupied 210,000 210,000 0 42,000 Real estate – multi-family and residential rental 3,000 3,000 0 1,000 Total commercial 535,000 526,000 43,000 425,000 Retail: Home equity and other 462,000 440,000 178,000 95,000 1-4 family mortgages 418,000 371,000 89,000 74,000 Total retail 880,000 811,000 267,000 169,000 Total with an allowance recorded $ 1,415,000 $ 1,337,000 $ 310,000 $ 594,000 Total impaired loans: Commercial $ 2,171,000 $ 2,143,000 $ 43,000 $ 2,119,000 Retail 3,762,000 3,021,000 267,000 2,815,000 Total impaired acquired loans $ 5,933,000 $ 5,164,000 $ 310,000 $ 4,934,000 Impaired loans for which no $1.3 $1.1 $0.4 2019, 2018 2017, $ 0.1 2019 2018, $0.5 2017, $0.1 2019 $ 0.3 2018 2017. Credit Quality Indicators. ten Loans by credit quality indicators were as follows as of December 31, 2019: 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 $ 491,385,000 $ 25,037,000 $ 333,051,000 $ 515,914,000 $ 69,474,000 Grades 5 – 7 293,678,000 26,975,000 203,318,000 261,080,000 30,727,000 Grades 8 – 9 14,358,000 85,000 6,192,000 0 143,000 Total commercial $ 799,421,000 $ 52,097,000 $ 542,561,000 $ 776,994,000 $ 100,344,000 Retail credit exposure – credit risk profiled by collateral type: Retail Retail Home Equity 1-4 Family and Other Mortgages Total retail $ 61,060,000 $ 282,248,000 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 $ 30,535,000 $ 1,028,000 $ 18,620,000 $ 47,173,000 $ 15,678,000 Grades 5 – 7 16,146,000 2,741,000 17,662,000 11,044,000 8,476,000 Grades 8 – 9 449,000 253,000 160,000 135,000 27,000 Total commercial $ 47,130,000 $ 4,022,000 $ 36,442,000 $ 58,352,000 $ 24,181,000 Retail credit exposure – credit risk profiled by collateral type: Retail Retail Home Equity 1-4 Family and Other Mortgages Total retail $ 14,314,000 $ 57,501,000 Loans by credit quality indicators were as follows as of December 31, 2018: 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 $ 508,611,000 $ 28,170,000 $ 325,459,000 $ 526,445,000 $ 75,051,000 Grades 5 – 7 238,942,000 11,686,000 163,455,000 218,682,000 22,798,000 Grades 8 – 9 21,145,000 94,000 11,274,000 0 186,000 Total commercial $ 768,698,000 $ 39,950,000 $ 500,188,000 $ 745,127,000 $ 98,035,000 Retail credit exposure – credit risk profiled by collateral type: Retail Retail Home Equity 1-4 Family and Other Mortgages Total retail $ 65,023,000 $ 235,425,000 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 $ 34,678,000 $ 1,246,000 $ 21,595,000 $ 54,401,000 $ 16,050,000 Grades 5 – 7 19,122,000 3,431,000 25,485,000 16,687,000 13,460,000 Grades 8 – 9 225,000 258,000 1,351,000 67,000 52,000 Total commercial $ 54,025,000 $ 4,935,000 $ 48,431,000 $ 71,155,000 $ 29,562,000 Retail credit exposure – credit risk profiled by collateral type: Retail Retail Home Equity 1-4 Family and Other Mortgages Total retail $ 20,416,000 $ 72,115,000 All commercial loans are graded using the following number system: Grade 1. Grade 2. Grade 3. Grade 4. Grade 5. Grade 6. may not Grade 7. Grade 8. Grade 9. Grade 10. not 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. The allowance for originated loan losses and recorded investments in originated loans for the year-ended December 31, 2019 Commercial Loans Retail Loans Unallocated Total Allowance for loan losses: Beginning balance $ 19,442,000 $ 2,068,000 $ 44,000 $ 21,554,000 Provision for loan losses 1,521,000 320,000 26,000 1,867,000 Charge-offs (455,000 ) (428,000 ) 0 (883,000 ) Recoveries 326,000 302,000 0 628,000 Ending balance $ 20,834,000 $ 2,262,000 $ 70,000 $ 23,166,000 Ending balance: individually evaluated for impairment $ 1,150,000 $ 247,000 $ 0 $ 1,397,000 Ending balance: collectively evaluated for impairment $ 19,684,000 $ 2,015,000 $ 70,000 $ 21,769,000 Total loans: Ending balance $ 2,271,417,000 $ 343,308,000 $ 2,614,725,000 Ending balance: individually evaluated for impairment $ 9,828,000 $ 1,537,000 $ 11,365,000 Ending balance: collectively evaluated for impairment $ 2,261,589,000 $ 341,771,000 $ 2,603,360,000 The allowance for acquired loan losses for the year-ended December 31, 2019 Commercial Loans Retail Loans Unallocated Total Allowance for loan losses: Beginning balance $ 177,000 $ 649,000 $ 0 $ 826,000 Provision for loan losses 57,000 (174,000 ) 0 (117,000 ) Charge-offs 0 0 0 0 Recoveries 2,000 12,000 0 14,000 Ending balance $ 236,000 $ 487,000 $ 0 $ 723,000 The allowance for originated loan losses and recorded investments in originated loans for the year-ended December 31, 2018 Commercial Loans Retail Loans Unallocated Total Allowance for loan losses: Beginning balance $ 16,456,000 $ 2,584,000 $ 93,000 $ 19,133,000 Provision for loan losses 826,000 (377,000 ) (49,000 ) 400,000 Charge-offs (428,000 ) (761,000 ) 0 (1,189,000 ) Recoveries 2,588,000 622,000 0 3,210,000 Ending balance $ 19,442,000 $ 2,068,000 $ 44,000 $ 21,554,000 Ending balance: individually evaluated for impairment $ 451,000 $ 237,000 $ 0 $ 688,000 Ending balance: collectively evaluated for impairment $ 18,991,000 $ 1,831,000 $ 44,000 $ 20,866,000 Total loans: Ending balance $ 2,151,998,000 $ 300,448,000 $ 2,452,446,000 Ending balance: individually evaluated for impairment $ 17,134,000 $ 1,748,000 $ 18,882,000 Ending balance: collectively evaluated for impairment $ 2,134,864,000 $ 298,700,000 $ 2,433,564,000 The allowance for acquired loan losses for the year-ended December 31, 2018 Commercial Loans Retail Loans Unallocated Total Allowance for loan losses: Beginning balance $ 291,000 $ 77,000 $ 0 $ 368,000 Provision for loan losses 132,000 568,000 0 700,000 Charge-offs (246,000 ) (15,000 ) 0 (261,000 ) Recoveries 0 19,000 0 19,000 Ending balance $ 177,000 $ 649,000 $ 0 $ 826,000 The allowance for originated loan losses and recorded investments in originated loans for the year-ended December 31, 2017 Commercial Loans Retail Loans Unallocated Total Allowance for loan losses: Beginning balance $ 16,026,000 $ 1,882,000 $ (40,000 ) $ 17,868,000 Provision for loan losses 1,148,000 1,360,000 133,000 2,641,000 Charge-offs (2,292,000 ) (891,000 ) 0 (3,183,000 ) Recoveries 1,574,000 233,000 0 1,807,000 Ending balance $ 16,456,000 $ 2,584,000 $ 93,000 $ 19,133,000 Ending balance: individually evaluated for impairment $ 1,202,000 $ 665,000 $ 0 $ 1,867,000 Ending balance: collectively evaluated for impairment $ 15,254,000 $ 1,919,000 $ 93,000 $ 17,266,000 Total loans: Ending balance $ 1,934,228,000 $ 235,729,000 $ 2,169,957,000 Ending balance: individually evaluated for impairment $ 6,394,000 $ 2,393,000 $ 8,787,000 Ending balance: collectively evaluated for impairment $ 1,927,834,000 $ 233,336,000 $ 2,161,170,000 The allowance for acquired loan losses for the year-ended December 31, 2017 Commercial Loans Retail Loans Unallocated Total Allowance for loan losses: Beginning balance $ 75,000 $ 18,000 $ 0 $ 93,000 Provision for loan losses 210,000 99,000 0 309,000 Charge-offs (12,000 ) (40,000 ) 0 (52,000 ) Recoveries 18,000 0 0 18,000 Ending balance $ 291,000 $ 77,000 $ 0 $ 368,000 Loans modified as troubled debt restructurings during the year-ended December 31, 2019 Pre- Post- Modification Modification Recorded Recorded Number of Principal Principal Contracts Balance Balance Originated Loans Commercial: Commercial and industrial 5 $ 435,000 $ 435,000 Vacant land, land development and residential construction 1 87,000 87,000 Real estate – owner occupied 1 1,567,000 1,567,000 Real estate – non-owner occupied 0 0 0 Real estate – multi-family and residential rental 0 0 0 Total commercial 7 2,089,000 2,089,000 Retail: Home equity and other 4 51,000 51,000 1-4 family mortgages 0 0 0 Total retail 4 51,000 51,000 Total 11 $ 2,140,000 $ 2,140,000 Acquired Loans Commercial: Commercial and industrial 0 $ 0 $ 0 Vacant land, land development and residential construction 0 0 0 Real estate – owner occupied 1 102,000 102,000 Real estate – non-owner occupied 0 0 0 Real estate – multi-family and residential rental 0 0 0 Total commercial 1 102,000 102,000 Retail: Home equity and other 16 244,000 245,000 1-4 family mortgages 8 310,000 310,000 Total retail 24 554,000 555,000 Total 25 $ 656,000 $ 657,000 Loans modified as troubled debt restructurings during the year-ended December 31, 2018 Pre- Post- Modification Modification Recorded Recorded Number of Principal Principal Contracts Balance Balance Originated Loans Commercial: Commercial and industrial 9 $ 12,297,000 $ 12,263,000 Vacant land, land development and residential construction 0 0 0 Real estate – owner occupied 1 2,284,000 2,284,000 Real estate – non-owner occupied 0 0 0 Real estate – multi-family and residential rental 0 0 0 Total commercial 10 14,581,000 14,547,000 Retail: Home equity and other 2 63,000 63,000 1-4 family mortgages 0 0 0 Total retail 2 63,000 63,000 Total 12 $ 14,644,000 $ 14,610,000 Acquired Loans Commercial: Commercial and industrial 0 $ 0 $ 0 Vacant land, land development and residential construction 0 0 0 Real estate – owner occupied 1 150,000 150,000 Real estate – non-owner occupied 0 0 0 Real estate – multi-family and residential rental 0 0 0 Total commercial 1 150,000 150,000 Retail: Home equity and other 16 414,000 416,000 1-4 family mortgages 4 91,000 90,000 Total retail 20 505,000 506,000 Total 21 $ 655,000 $ 656,000 The following originated loans, modified as troubled debt restructurings within the previous twelve 30 December 31, 2019 ( 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 The following acquired loans, modified as troubled debt restructurings within the previous twelve 30 December 31, 2019 ( 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 1 20,000 1-4 family mortgages 2 106,000 Total retail 3 126,000 Total 3 $ 126,000 The following originated loans, modified as troubled debt restructurings within the previous twelve 30 December 31, 2018 ( 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 The following acquired loans, modified as troubled debt restructurings within the previous twelve 30 December 31, 2018 ( 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 Activity for originated loans categorized as troubled debt restructurings during the year-ended December 31, 2019 Commercial and Commercial Vacant Land, Land Development, and Residential Commercial Real Estate - Owner Commercial Real Estate - Non-Owner Commercial Real Estate - Multi-Family and Residential Industrial Construction Occupied Occupied Rental Commercial Loan Portfolio: Beginning Balance $ 13,590,000 $ 0 $ 2,682,000 $ 0 $ 0 Charge-Offs 0 0 0 0 0 Payments (20,244,000 ) (2,000 ) (2,947,000 ) 0 0 Transfers to ORE 0 0 0 0 0 Net Additions/Deletions 14,812,000 87,000 1,250,000 0 0 Ending Balance $ 8,158,000 $ 85,000 $ 985,000 $ 0 $ 0 Retail Home Equity and Other Retail 1-4 Family Mortgages Retail Loan Portfolio: Beginning Balance $ 938,000 $ 142,000 Charge-Offs 0 0 Payments (114,000 ) (110,00 |
Note 5 - Premises and Equipment
Note 5 - Premises and Equipment, Net | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | NOTE 5 Year-end premises and equipment were as follows: 2019 2018 Land and improvements $ 17,039,000 $ 18,198,000 Buildings 52,847,000 45,362,000 Furniture and equipment 22,712,000 18,139,000 92,598,000 81,699,000 Less: accumulated depreciation 35,271,000 33,378,000 Total premises and equipment $ 57,327,000 $ 48,321,000 Future lease payments at December 31, 2019 $3.8 $0.6 one $1.1 one three $0.9 three five $1.2 five December 31, 2018 $3.0 $0.4 one $0.7 one three $0.5 three five $1.4 five $3.9 2019, $3.6 2018, $3.0 2017. |
Note 6 - Mortgage Loan Servicin
Note 6 - Mortgage Loan Servicing | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Mortgage Loan Servicing [Text Block] | NOTE 6 Mortgage loans serviced for others are not 2019 2018 Mortgage loan portfolios serviced for: Federal Home Loan Mortgage Corporation $ 711,643,000 $ 599,262,000 Federal Home Loan Bank 15,317,000 16,333,000 Total mortgage loans serviced for others $ 726,960,000 $ 615,595,000 Custodial escrow balances, which are reported as deposits on the Consolidated Balance Sheets, maintained in connection with serviced loans were $6.4 $4.1 December 31, 2019 December 31, 2018, Activity for capitalized mortgage loan servicing rights during 2019 2018 2019 2018 Balance at beginning of year $ 4,436,000 $ 5,106,000 Additions 1,962,000 842,000 Amortized to expense (1,746,000 ) (1,512,000 ) Balance at end of year $ 4,652,000 $ 4,436,000 We determined that no December 31, 2019 December 31, 2018. $7.4 $8.4 December 31, 2019 December 31, 2018, 2019, 10.0%, 15.3%, 0.32%. 2018, 10.0%, 9.3%, 0.32%. The weighted average amortization period was 5.3 7.3 December 31, 2019 December 31, 2018, December 31, 2019 2020 $ 1,099,000 2021 925,000 2022 759,000 2023 604,000 2024 467,000 Thereafter 798,000 |
Note 7 - Core Deposit Intangibl
Note 7 - Core Deposit Intangible Assets, Net | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Intangible Assets Disclosure [Text Block] | NOTE 7 The gross carrying amount of core deposit intangible assets totaled $17.5 December 31, 2019 December 31, 2018. December 31, 2019, $13.7 $3.8 December 31, 2018, $11.9 $5.6 The scheduled amortization expense on core deposit intangible assets in future periods is: 2020 $ 1,403,000 2021 1,086,000 2022 768,000 2023 450,000 2024 133,000 |
Note 8 - Deposits
Note 8 - Deposits | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Deposit Liabilities Disclosures [Text Block] | NOTE 8 Deposits at year-end are summarized as follows: December 31, 2019 December 31, 2018 Percent Increase Balance % Balance % (Decrease) Noninterest-bearing demand $ 924,916,000 34.4 % $ 889,784,000 36.1 % 3.9 % Interest-bearing checking 332,373,000 12.3 339,089,000 13.8 (2.0 ) Money market 509,368,000 18.9 434,333,000 17.6 17.3 Savings 269,318,000 10.0 317,014,000 12.9 (15.0 ) Time, under $100,000 198,123,000 7.4 160,092,000 6.5 23.8 Time, $100,000 and over 322,827,000 12.0 210,164,000 8.5 53.6 Total local deposits 2,556,925,000 95.0 2,350,476,000 95.4 8.8 Out-of-area time, under $100,000 0 0.0 0 0.0 0.0 Out-of-area time, $100,000 and over 133,459,000 5.0 113,232,000 4.6 17.9 Total out-of-area deposits 133,459,000 5.0 113,232,000 4.6 17.9 Total deposits $ 2,690,384,000 100.0 % $ 2,463,708,000 100.0 % 9.2 % Out-of-area time deposits consist of deposits obtained from depositors outside of our primary market areas exclusively through deposit brokers. The following table depicts the maturity distribution for time deposits at year-end: 2019 2018 In one year or less $ 360,395,000 $ 204,253,000 In one to two years 173,512,000 167,484,000 In two to three years 82,480,000 58,671,000 In three to four years 16,019,000 36,690,000 In four to five years 22,003,000 16,390,000 Total certificates of deposit $ 654,409,000 $ 483,488,000 The following table depicts the maturity distribution for time deposits with balances of $100,000 2019 2018 Up to three months $ 100,635,000 $ 34,367,000 Three months to six months 59,838,000 41,939,000 Six months to twelve months 93,691,000 57,137,000 Over twelve months 202,122,000 189,953,000 Total certificates of deposit $ 456,286,000 $ 323,396,000 Total time deposits of more than $250,000 $320 $232 2019 2018, |
Note 9 - Securities Sold Under
Note 9 - Securities Sold Under Agreements to Repurchase | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Repurchase Agreements, Resale Agreements, Securities Borrowed, and Securities Loaned Disclosure [Text Block] | NOTE 9 Information regarding securities sold under agreements to repurchase at year-end is summarized below: 2019 2018 Outstanding balance at year-end $ 102,675,000 $ 103,519,000 Weighted average interest rate at year-end 0.17 % 0.26 % Average daily balance during the year $ 105,234,000 $ 101,005,000 Weighted average interest rate during the year 0.24 % 0.24 % Maximum daily balance during the year $ 133,411,000 $ 123,046,000 Securities sold under agreements to repurchase (“repurchase agreements”) generally have original maturities of less than one |
Note 10 - Federal Home Loan Ban
Note 10 - Federal Home Loan Bank of Indianapolis Advances | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Federal Home Loan Bank Advances, Disclosure [Text Block] | NOTE 10 Federal Home Loan Bank of Indianapolis (“FHLBI”) advances totaled $354 December 31, 2019, April 2020 June 2025, 1.36% 3.18% 2.45%. $350 December 31, 2018, January 2019 June 2025, 1.20% 3.18% 2.30%. 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 generally collateralized by a blanket lien on our residential mortgage loan portfolio. Our borrowing line of credit as of December 31, 2019 $813 $453 Scheduled maturities as of December 31, 2019: 2020 $ 40,000,000 2021 70,000,000 2022 94,000,000 2023 80,000,000 2024 50,000,000 Thereafter 20,000,000 |
Note 11 - Federal Income Taxes
Note 11 - Federal Income Taxes | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | NOTE 11 On December 22, 2017, H.R.1, 35% 21% January 1, 2018 2017, $1.3 No. 118 118” twelve 118 December 22, 2017. H.R.1, no The consolidated income tax expense is as follows: 2019 2018 2017 Current expense $ 10,978,000 $ 10,170,000 $ 13,978,000 Deferred expense 26,000 (372,000 ) (505,000 ) Effect of federal tax law change 0 0 1,336,000 Tax expense $ 11,004,000 $ 9,798,000 $ 14,809,000 A reconciliation of the differences between the federal income tax expense recorded and the amount computed by applying the federal statutory rate to income before income taxes is as follows: 2019 2018 2017 Tax at statutory rate $ 12,697,000 $ 10,883,000 $ 16,129,000 Increase (decrease) from Tax-exempt interest (644,000 ) (620,000 ) (1,030,000 ) Bank owned life insurance (804,000 ) (201,000 ) (948,000 ) Effect of federal tax law change 0 0 1,336,000 Other (245,000 ) (264,000 ) (678,000 ) Tax expense $ 11,004,000 $ 9,798,000 $ 14,809,000 The statutory tax rate was 21% 2019 2018 35% 2017. Significant components of deferred tax assets and liabilities as of December 31, 2019 2018 2019 2018 Deferred income tax assets Allowance for loan losses $ 5,017,000 $ 4,700,000 Deferred compensation 577,000 630,000 Stock compensation 720,000 660,000 Nonaccrual loan interest income 239,000 297,000 Deferred loan fees 104,000 185,000 Capital loss carryforward 94,000 94,000 Fair value write-downs on foreclosed properties 26,000 15,000 Unrealized loss on securities 0 2,190,000 Other 683,000 340,000 Deferred tax asset before valuation allowance 7,460,000 9,111,000 Valuation allowance (94,000 ) (94,000 ) Deferred tax asset after valuation allowance 7,366,000 9,017,000 Deferred income tax liabilities Depreciation 1,743,000 1,205,000 Prepaid expenses 269,000 238,000 Core deposit intangible 787,000 1,142,000 Mortgage loan servicing rights 977,000 932,000 Unrealized gain on securities 982,000 0 Business combination adjustments 2,058,000 2,054,000 Other 485,000 183,000 Deferred tax liability 7,301,000 5,754,000 Total net deferred tax asset $ 65,000 $ 3,263,000 A valuation allowance related to deferred tax assets is required when it is considered more likely than not not December 31, 2019 2018, $0.1 $0.1 December 31, 2020 not We had no 2019 2018 not 2020. no 2019 2018. no 2016. |
Note 12 - Stock-based Compensat
Note 12 - Stock-based Compensation | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | NOTE 12 Stock-based compensation plans are used to provide directors and employees with an increased incentive to contribute to our long-term performance and growth, to align the interests of directors and employees with the interests of our shareholders through the opportunity for increased stock ownership and to attract and retain directors and employees. During 2014 2015, 2006. 2016 2019, 2016. 2016 2016, 2016 2019. 2006 January 18, 2016, 2016 May, 2016. Under the Stock Incentive Plan of 2006 2016, may not not No 2014 2019 three 2018 2019, 2014, 2015 2016, 110% two seven 2019, 102,000 In conjunction with the Firstbank merger, we issued Mercantile stock options in replacement of all outstanding Firstbank stock option grants that had been previously issued to Firstbank employees under the Firstbank Corporation Stock Option and Restricted Stock Plan of 1997 2006 50 one 50 five 20% one ten 282,200 258,400 23,800 2015. A summary of restricted stock activity from grants issued under Mercantile plans during the past three 2019 2018 2017 Shares Weighted Average Fair Value Shares Weighted Average Fair Value Shares Weighted Average Fair Value Nonvested at beginning of year 262,967 $ 33.97 239,637 $ 32.37 228,343 $ 26.09 Granted 84,596 35.29 91,400 31.82 94,592 37.11 Vested (81,772 ) 32.19 (55,792 ) 25.14 (74,979 ) 20.17 Forfeited (3,531 ) 34.85 (12,278 ) 31.62 (8,319 ) 23.75 Nonvested at end of year 262,260 $ 34.91 262,967 $ 33.97 239,637 $ 32.37 Of the restricted stock shares granted in 2019 2018, 23,596 24,633 A summary of stock option activity from grants issued under Mercantile plans during the past three 2019 2018 2017 Shares Weighted Average Exercise Price Shares Weighted Average Exercise Price Shares Weighted Average Exercise Price Outstanding at beginning of year 13,700 $ 30.51 15,808 $ 29.62 16,808 $ 29.17 Granted 0 NA 0 NA 0 NA Exercised (4,000 ) 24.91 (2,108 ) 23.77 (1,000 ) 22.15 Forfeited or expired 0 NA 0 NA 0 NA Outstanding at end of year 9,700 $ 32.83 13,700 $ 30.51 15,808 $ 29.62 Options exercisable at year-end 9,700 $ 32.83 13,700 $ 30.51 9,308 $ 25.00 The fair value of each stock option award is estimated on the date of grant using a closed option valuation (Black-Scholes) model that uses the assumptions noted in the table below. Expected volatilities are based on historical volatilities on our common stock. Historical data is used to estimate stock option expense and post-vesting termination behavior. The expected term of stock options granted is based on historical data and represents the period of time that stock options granted are expected to be outstanding, which takes into account that the stock options are not No three Options issued under Mercantile plans outstanding at year-end 2019 Outstanding Exercisable Weighted Average Weighted Weighted Range of Remaining Average Average Exercise Contractual Exercise Exercise Prices Number Life (Years) Price Number Price $22.00 - $23.00 1,000 1.9 $ 22.15 1,000 22.15 $27.00 - $28.00 2,200 2.9 27.66 2,200 27.66 $36.00 - $37.00 6,500 3.9 36.22 6,500 36.22 Outstanding at year end 9,700 3.4 $ 32.83 9,700 32.83 Information related to options issued under various Mercantile plans outstanding at year-end 2019, 2018 2017 2019 2018 2017 Minimum exercise price $ 22.15 $ 22.15 $ 22.15 Maximum exercise price 36.22 36.22 36.22 Average remaining option term (years) 3.4 4.1 5.0 Information related to stock option grants and exercises issued under various Mercantile plans during 2019, 2018 2017 2019 2018 2017 Aggregate intrinsic value of stock options exercised $ 43,000 $ 17,000 $ 15,000 Cash received from stock option exercises 97,000 33,000 0 Tax benefit realized from stock option exercises 0 0 0 Weighted average per share fair value of stock options granted NA NA NA The aggregate intrinsic value of in-the-money stock options issued under Mercantile plans outstanding and exercisable at December 31, 2019 $0.1 A summary of stock option activity from grants issued under Firstbank plans that became part of Mercantile’s plans upon consummation of the merger on June 1, 2014 2019 2018 2017 Shares Weighted Average Exercise Price Shares Weighted Average Exercise Price Shares Weighted Average Exercise Price Outstanding at beginning of year 5,200 $ 6.57 15,100 $ 7.20 44,275 $ 9.86 Granted 0 NA 0 NA 0 NA Exercised (4,200 ) 6.90 (9,900 ) 7.53 (27,675 ) 11.50 Forfeited or expired 0 NA 0 NA (1,500 ) 6.33 Outstanding at end of year 1,000 $ 5.19 5,200 $ 6.57 15,100 $ 7.20 Options exercisable at year-end 1,000 $ 5.19 5,200 $ 6.57 15,100 $ 7.20 Options issued under Firstbank plans outstanding at year-end 2019 Outstanding Exercisable Weighted Average Weighted Weighted Range of Remaining Average Average Exercise Contractual Exercise Exercise Prices Number Life (Years) Price Number Price $ 5.00 - $ 6.00 1,000 0.9 5.19 1,000 5.19 Outstanding at year end 1,000 0.9 $ 5.19 1,000 $ 5.19 Information related to options issued under Firstbank plans outstanding at year-end 2019, 2018 2017 2019 2018 2017 Minimum exercise price $ 5.19 $ 5.19 $ 5.19 Maximum exercise price 5.19 8.60 8.60 Average remaining option term (years) 0.9 1.5 1.7 Information related to stock option grants and exercises issued under Firstbank plans during 2018, 2017 2016 2019 2018 2017 Aggregate intrinsic value of stock options exercised $ 114,000 $ 300,000 $ 594,000 Cash received from stock option exercises 29,000 108,000 318,000 Tax benefit realized from stock option exercises 0 0 208,000 Weighted average per share fair value of stock options granted NA NA NA The aggregate intrinsic value of all stock options issued under various Firstbank plans outstanding and exercisable at December 31, 2019 $0.1 On June 6, 2016, 13,000 June 1, 2016 May 31, 2017. $0.3 twelve May 25, 2017, 12,000 June 1, 2017 May 31, 2018. $0.4 twelve May 24, 2018, 11,000 June 1, 2018 May 31, 2019. $0.4 twelve October 25, 2018, 1,000 October 1, 2018 May 31, 2019. $0.1 eight May 23, 2019, 12,000 June 1, 2019 May 31, 2020. $0.4 twelve |
Note 13 - Related Parties
Note 13 - Related Parties | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | NOTE 13 Certain directors and executive officers of our bank, including their immediate families and companies in which they are principal owners, were loan customers of our bank. At year-end 2019 2018, $115 $41.3 $104 $92.0 2019 2018, 2019 2018 Beginning balance $ 92,033,000 $ 14,473,000 New loans 16,662,000 79,330,000 Repayments (4,652,000 ) (1,770,000 ) Ending balance $ 104,043,000 $ 92,033,000 Related party deposits and repurchase agreements totaled $15.0 $14.8 2019 2018, |
Note 14 - Commitments and Off-b
Note 14 - Commitments and Off-balance Sheet Risk | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Commitments Contingencies and Guarantees [Text Block] | NOTE 14 We are a party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of our 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 third may not These instruments involve, to varying degrees, elements of credit risk in excess of the amount recognized, if any, in the balance sheet. Our 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. We use the same credit policies in making commitments and conditional obligations as we do for on-balance sheet instruments. Collateral, such as accounts receivable, securities, inventory, and property and equipment, is generally obtained based on management’s credit assessment of the borrower. If required, estimated loss exposure resulting from these instruments is expensed and recorded as a liability. There was no December 31, 2019 2018. At year-end 2019 2018, Our maximum exposure to credit losses for loan commitments and standby letters of credit outstanding at year-end was as follows: 2019 2018 Commercial unused lines of credit $ 776,493,000 $ 784,895,000 Unused lines of credit secured by 1 – 4 family residential properties 60,858,000 57,378,000 Credit card unused lines of credit 58,199,000 47,432,000 Other consumer unused lines of credit 18,135,000 20,231,000 Commitments to make loans 101,961,000 101,517,000 Standby letters of credit 22,798,000 25,322,000 Total commitments $ 1,038,444,000 $ 1,036,775,000 Commitments to make loans generally reflect our binding obligations to existing and prospective customers to extend credit, including line of credit facilities secured by accounts receivable and inventory, and term debt secured by either real estate or equipment. In most instances, line of credit facilities are for a one 30 30 4.00% 6.00%. five 10 20 30 4.50% 6.00%. three seven The following instruments are considered financial guarantees under current accounting guidance. These instruments are carried at fair value. 2019 2018 Contract Carrying Contract Carrying Amount Value Amount Value Standby letters of credit $ 22,798,000 $ 160,000 $ 25,322,000 $ 126,000 We were required to have $10.7 $9.1 December 31, 2019 December 31, 2018, |
Note 15 - Benefit Plans
Note 15 - Benefit Plans | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Pension and Other Postretirement Benefits Disclosure [Text Block] | NOTE 15 We have a 401 401 4.25% January 1, 2014; April 1, 2018, 5.00%. 2019, 2018 2017 401 $1.7 $1.6 $1.3 We have a deferred compensation plan in which all persons serving on the Board of Directors may may $2.7 $3.0 December 31, 2019 2018, $0.1 2019 2018, $0.1 2017. The Mercantile Bank Corporation Employee Stock Purchase Plan of 2014 250,000 may may 1,507 1,579 2019 2018, December 31, 2019, 241,000 |
Note 16 - Fair Values of Financ
Note 16 - Fair Values of Financial Instruments | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | NOTE 1 6 – FAIR VALUES OF FINANCIAL INSTRUMENTS Carrying amount, estimated fair value and level within the fair value hierarchy of financial instruments were as follows at year-end (dollars in thousands): Level in 2019 2018 Fair Value Carrying Fair Carrying Fair Hierarchy Amount Value Amount Value Financial assets Cash Level 1 $ 16,430 $ 16,430 $ 15,656 $ 15,656 Cash equivalents Level 2 217,301 217,301 59,698 59,698 Securities available for sale (1) 334,655 334,655 337,366 337,366 Federal Home Loan Bank stock (2) 18,002 18,002 16,022 16,022 Loans, net Level 3 2,827,800 2,887,168 2,729,583 2,711,687 Loans held for sale Level 2 4,978 4,978 1,122 1,122 Mortgage servicing rights Level 2 4,652 7,375 4,436 8,444 Accrued interest receivable Level 2 9,944 9,944 9,896 9,896 Financial liabilities Deposits Level 2 2,690,384 2,600,452 2,463,708 2,471,617 Securities sold under agreements to repurchase Level 2 102,675 102,675 103,519 103,519 Federal Home Loan Bank advances Level 2 354,000 361,887 350,000 348,428 Subordinated debentures Level 2 46,881 46,140 46,199 46,543 Accrued interest payable Level 2 3,949 3,949 2,249 2,249 ( 1 See Note 17 ( 2 It is not Carrying amount is the estimated fair value for cash and cash equivalents, FHLBI stock, accrued interest receivable and payable, noninterest-bearing checking accounts and securities sold under agreements to repurchase. Security fair values are based on market prices or dealer quotes, and if no 2016 01, |
Note 17 - Fair Values Measureme
Note 17 - Fair Values Measurements | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Fair Value Measurement and Measurement Inputs, Recurring and Nonrecurring [Text Block] | NOTE 1 7 – FAIR VALUE MEASUREMENTS 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 not 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 Level 1: Level 2: 1 not Level 3: The following is a description of our valuation methodologies used to measure and disclose the fair values of our financial assets and liabilities on a recurring or nonrecurring basis: Securities available for sale. not 2 3 no December 31, 2019 2018. no 1 Mortgage loans held for sale. December 31, 2019 2018, $5.0 $1.1 Loans. not Foreclosed assets. Derivatives. Assets and Liabilities Measured at Fair Value on a Recurring Basi The balances of assets and liabilities measured at fair value on a recurring basis as of December 31, 2019 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 $ 186,410,000 $ 0 $ 186,410,000 $ 0 Mortgage-backed securities 42,470,000 0 42,470,000 0 Municipal general obligation bonds 101,079,000 0 99,029,000 2,050,000 Municipal revenue bonds 4,196,000 0 4,196,000 0 Other investments 500,000 0 500,000 0 Total $ 334,655,000 $ 0 $ 332,605,000 $ 2,050,000 There were no 1, 2 3 2019. $1.7 3 2019 The balances of assets and liabilities measured at fair value on a recurring basis as of December 31, 2018 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 $ 187,077,000 $ 0 $ 187,077,000 $ 0 Mortgage-backed securities 43,658,000 0 43,658,000 0 Municipal general obligation bonds 102,497,000 0 98,768,000 3,729,000 Municipal revenue bonds 3,634,000 0 3,634,000 0 Other investments 500,000 0 500,000 0 Total $ 337,366,000 $ 0 $ 333,637,000 $ 3,729,000 There were no 1, 2 3 2018. $1.5 3 2018 Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis The balances of assets and liabilities measured at fair value on a nonrecurring basis as of December 31, 2019 Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable Assets Inputs Inputs Total (Level 1) (Level 2) (Level 3) Impaired loans $ 1,107,000 $ 0 $ 0 $ 1,107,000 Foreclosed assets 452,000 0 0 452,000 Total $ 1,559,000 $ 0 $ 0 $ 1,559,000 The balances of assets and liabilities measured at fair value on a nonrecurring basis as of December 31, 2018 Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable Assets Inputs Inputs Total (Level 1) (Level 2) (Level 3) Impaired loans $ 8,181,000 $ 0 $ 0 $ 8,181,000 Foreclosed assets 811,000 0 0 811,000 Total $ 8,992,000 $ 0 $ 0 $ 8,992,000 The carrying values are based on the estimated value of the property or other assets. Fair value estimates of collateral on impaired loans and foreclosed assets are reviewed periodically. Our credit policies establish criteria for obtaining appraisals and determining internal value estimates. We may may 15% 25% 25% 50% 10% |
Note 18 - Earnings Per Share
Note 18 - Earnings Per Share | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | NOTE 1 8 – EARNINGS PER SHARE The factors used in the earnings per share computation follow: 2019 2018 2017 Basic Net income attributable to common shares $ 49,456,000 $ 42,024,000 $ 31,274,000 Weighted average common shares outstanding 16,405,159 16,600,612 16,478,968 Basic earnings per common share $ 3.01 $ 2.53 $ 1.90 Diluted Net income attributable to common shares $ 49,456,000 $ 42,024,000 $ 31,274,000 Weighted average common shares outstanding for basic earnings per common share 16,405,159 16,600,612 16,478,968 Add: Dilutive effects of share-based awards 3,976 5,804 10,102 Average shares and dilutive potential common shares 16,409,135 16,606,416 16,489,070 Diluted earnings per common share $ 3.01 $ 2.53 $ 1.90 Stock options for approximately 7,000 not 2019, 2018 2017. |
Note 19 - Subordinated Debentur
Note 19 - Subordinated Debentures | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Subordinated Borrowings Disclosure [Text Block] | NOTE 19 – SUBORDINATED DEBENTURES We have five four $15.0 $0.7 21.5 The only significant assets of our trusts are the Floating Rate Notes, and the only significant liabilities of our trusts are the Preferred Securities. The Floating Rate Notes are categorized on our Consolidated Balance Sheets as subordinated debentures and the interest expense is recorded on our Consolidated Statements of Income under interest expense on other borrowings. On January 26, 2016, $11.0 $32.0 $11.0 $21.0 The following table depicts our five December 31, 2019: Preferred Securities Trust Name Outstanding Interest Rate Maturity Date Mercantile Bank Capital Trust I $21,000,000 3 Month Libor + 218 bps September 16, 2034 Firstbank Capital Trust I $10,000,000 3 Month Libor + 199 bps October 18, 2034 Firstbank Capital Trust II $10,000,000 3 Month Libor + 127 bps April 7, 2036 Firstbank Capital Trust III $7,500,000 3 Month Libor + 135 bps July 30, 2037 Firstbank Capital Trust IV $7,500,000 3 Month Libor + 135 bps July 30, 2037 |
Note 20 - Regulatory Matters
Note 20 - Regulatory Matters | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | NOTE 2 0 - 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 the financial statements. The prompt corrective action regulations provide five not not no may may 2019 2018, no December 31, 2019 Our actual capital levels (dollars in thousands) and minimum required levels 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 2019 Total capital (to risk weighted assets) Consolidated $ 429,038 13.1 % $ 262,141 8.0 % NA NA Bank 424,917 13.0 262,088 8.0 327,610 10.0 % Tier 1 capital (to risk weighted assets) Consolidated 405,148 12.4 196,606 6.0 NA NA Bank 401,027 12.2 196,566 6.0 262,088 8.0 Common equity (to risk weighted assets) Consolidated 360,342 11.0 147,454 4.5 NA NA Bank 401,027 12.2 147,425 4.5 212,947 6.5 Tier 1 capital (to average assets) Consolidated 405,148 11.3 143,689 4.0 NA NA Bank 401,027 11.2 143,670 4.0 179,588 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 2018 Total capital (to risk weighted assets) Consolidated $ 396,102 12.5 % $ 253,413 8.0 % NA NA Bank 388,591 12.3 253,225 8.0 316,531 10.0 % Tier 1 capital (to risk weighted assets) Consolidated 373,721 11.8 190,060 6.0 NA NA Bank 366,211 11.6 189,919 6.0 253,225 8.0 Common equity (to risk weighted assets) Consolidated 329,596 10.4 142,545 4.5 NA NA Bank 366,211 11.6 142,439 4.5 205,745 6.5 Tier 1 capital (to average assets) Consolidated 373,721 11.4 131,014 4.0 NA NA Bank 366,211 11.2 130,913 4.0 163,641 5.0 Under the final Basel III capital rules that became effective on January 1, 2015, 1 2.5% not three 2016. 1 7.0%, 1 8.5% 10.5% January 1, 2019. December 31, 2019, Federal and state banking laws and regulations place certain restrictions on the amount of dividends our bank can transfer to Mercantile and on the capital levels that must be maintained. At year-end 2019, $75.2 January 17, 2019, $0.26 March 20, 2019 March 8, 2019. April 11, 2019, $0.26 June 19, 2019 June 7, 2019. July 11, 2019, $0.27 September 18, 2019 September 6, 2019. October 10, 2019, $0.27 December 18, 2019 December 6, 2019. On January 16, 2020, $0.28 March 18, 2020 March 6, 2020. In May 2019, $20.0 January 2015 April 2016. 2019, 233,300 $7.2 $30.79. January 2015 December 2019, 1.4 $32.6 $23.47. may Our consolidated capital levels as of December 31, 2019 2018 $44.8 $44.1 may 1 not 25% 1 not May 19, 2010, December 31, 2009 $15.0 December 31, 2019 2018, $44.8 $44.1 1 |
Note 21 - Accumulated Other Com
Note 21 - Accumulated Other Comprehensive Income (Loss) | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | NOTE 2 1 – ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) At December 31, 2019, $3.7 December 31, 2018, $8.2 |
Note 22 - Quarterly Financial D
Note 22 - Quarterly Financial Data (Unaudited) | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Quarterly Financial Information [Text Block] | NOTE 2 2 - QUARTERLY FINANCIAL DATA (Unaudited) Interest Net Interest Net Earnings per Share Income Income Income Basic Diluted 2019 First quarter $ 38,637,000 $ 30,645,000 $ 11,824,000 $ 0.72 $ 0.72 Second quarter 39,820,000 31,116,000 11,715,000 0.71 0.71 Third quarter 40,316,000 31,605,000 12,600,000 0.77 0.77 Fourth quarter 39,564,000 31,168,000 13,317,000 0.81 0.81 201 8 First quarter $ 34,981,000 $ 30,199,000 $ 10,881,000 $ 0.66 $ 0.66 Second quarter 34,319,000 29,225,000 9,446,000 0.57 0.57 Third quarter 35,486,000 29,840,000 10,123,000 0.61 0.61 Fourth quarter 37,195,000 30,818,000 11,574,000 0.70 0.70 |
Note 23 - Mercantile Bank Corpo
Note 23 - Mercantile Bank Corporation (Parent Company Only) Condensed Financial Statements | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Condensed Financial Information of Parent Company Only Disclosure [Text Block] | NOTE 2 3 – MERCANTILE BANK CORPORATION (PARENT COMPANY ONLY) CONDENSED FINANCIAL STATEMENTS CONDENSED BALANCE SHEETS 2019 2018 ASSETS Cash and cash equivalents $ 6,045,000 $ 9,653,000 Investment in bank subsidiary 439,946,000 394,561,000 Other assets 18,032,000 19,740,000 Total assets $ 464,023,000 $ 423,954,000 LIABILITIES AND SHAREHOLDERS’ EQUITY Liabilities $ 581,000 $ 2,506,000 Subordinated debentures 46,881,000 46,199,000 Shareholders’ equity 416,561,000 375,249,000 Total liabilities and shareholders’ equity $ 464,023,000 $ 423,954,000 CONDENSED STATEMENTS OF INCOME 2019 2018 2017 Income Interest and dividends from subsidiaries $ 22,246,000 $ 33,832,000 $ 16,203,000 Total income 22,246,000 33,832,000 16,203,000 Expenses Interest expense 3,153,000 2,999,000 2,496,000 Other operating expenses 4,804,000 4,424,000 3,651,000 Total expenses 7,957,000 7,423,000 6,147,000 Income before income tax benefit and equity in undistributed net income of subsidiary 14,289,000 26,409,000 10,056,000 Federal income tax benefit (1,718,000 ) (1,610,000 ) (4,060,000 ) Equity in undistributed net income of subsidiary 33,449,000 14,005,000 17,158,000 Net income $ 49,456,000 $ 42,024,000 $ 31,274,000 Comprehensive income $ 61,390,000 $ 38,646,000 $ 32,821,000 CONDENSED STATEMENTS OF CASH FLOWS 2019 2018 2017 Cash flows from operating activities Net income $ 49,456,000 $ 42,024,000 $ 31,274,000 Adjustments to reconcile net income to net cash from operating activities: Equity in undistributed net income of subsidiary (33,449,000 ) (14,005,000 ) (17,158,000 ) Stock-based compensation expense 2,931,000 2,410,000 1,981,000 Stock grants to directors for retainer fees 375,000 441,000 363,000 Change in other assets 2,387,000 1,384,000 (230,000 ) Change in other liabilities (1,924,000 ) (187,000 ) (677,000 ) Net cash from operating activities 19,776,000 32,067,000 15,553,000 Cash flows from investing activities Net capital investment into subsidiaries 0 0 0 Net cash for investing activities 0 0 0 Cash flows from financing activities Stock option exercises, net of cashless exercises 128,000 108,000 318,000 Employee stock purchase plan 50,000 52,000 46,000 Dividend reinvestment plan 729,000 1,165,000 1,576,000 Repurchase of common shares (7,183,000 ) (5,943,000 ) 0 Cash dividends on common stock (17,108,000 ) (27,500,000 ) (12,046,000 ) Net cash for financing activities (23,384,000 ) (32,118,000 ) (10,106,000 ) Net change in cash and cash equivalents (3,608,000 ) (51,000 ) 5,447,000 Cash and cash equivalents at beginning of period 9,653,000 9,704,000 4,257,000 Cash and cash equivalents at end of period $ 6,045,000 $ 9,653,000 $ 9,704,000 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2019 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation Mercantile has five not |
Nature of Operation [Policy Text Block] | Nature of Operations July 15, 1997 December 15, 1997. $1.5 46 June 1, 2014. Our bank is a community-based financial institution. Our bank’s primary deposit products are checking, savings, and term certificate accounts, and its primary lending products are commercial loans, residential mortgage loans, and instalment loans. Substantially all loans are secured by specific items of collateral including business assets, real estate or consumer assets. Commercial loans are expected to be repaid from cash flow from operations of businesses. Real estate loans are secured by commercial or residential real estate. We have no one Our real estate company was organized on July 21, 2003, second 2005. Our insurance company acquired an existing shelf insurance agency effective April 15, 2002. not no We have evaluated subsequent events for potential recognition and/or disclosure through the date these financial statements were issued. |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents and Cash Flow Reporting 90 |
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 impairment (“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 not two 1 2 |
Financing Receivable, Held-for-investment [Policy Text Block] | Loans $0.5 $0.9 December 31, 2019 2018. Interest income on commercial loans and mortgage loans is discontinued at the time the loan is 90 no 120 All interest accrued but not |
Financing Receivable, Held-for-sale [Policy Text Block] | Loans Held for Sale Year-end mortgage loans held for sale, included in total loans in the balance sheet, were as follows: 2019 2018 Mortgage loans held for sale $ 4,978,000 $ 1,122,000 Less: Allowance to adjust to lower of cost or market 0 0 Mortgage loans held for sale, net $ 4,978,000 $ 1,122,000 |
Mortgage Loan Derivatives, Policy [Policy Text Block] | Mortgage Loan Derivatives not December 31, 2019 2018. |
Mortgage Banking Activity [Policy Text Block] | Mortgage Banking Activities Servicing fee income is recorded for fees earned for servicing 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 statements of income. |
Troubled Debt Restructuring [Policy Text Block] | Troubled Debt Restructurings not may 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 two |
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block] | Allowance for Loan Losses may A loan is considered 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 and collateral value. Loans that experience insignificant payment delays and payment shortfalls generally are not |
Transfers and Servicing of Financial Assets, Policy [Policy Text Block] | Transfers of Financial Assets 1 2 3 not |
Property, Plant and Equipment, Policy [Policy Text Block] | Premises and Equipment 5 33 3 7 may not |
Financing Receivable, Held-for-investment, Foreclosed Asset [Policy Text Block] | Foreclosed Assets: $0.5 $0.8 December 31, 2019 2018, |
Bank Owned Life Insurance, Policy [Policy Text Block] | Bank Owned Life Insurance: |
Goodwill and Intangible Assets, Policy [Policy Text Block] | Goodwill and Core Deposit Intangible may not may not not 2018 2019, not no The core deposit intangible that arose from the merger with Firstbank was initially measured at fair value and is being amortized into noninterest expense over a ten |
Repurchase and Resale Agreements Policy [Policy Text Block] | Repurchase Agreements |
Off-Balance-Sheet Credit Exposure, Policy [Policy Text Block] | Financial Instruments and Loan Commitments |
Share-based Payment Arrangement [Policy Text Block] | Stock-Based Compensation |
Revenue from Contract with Customer [Policy Text Block] | Revenue from Contracts with Customers 606, 606” 606, No Our primary sources of revenue are derived from interest and dividends earned on loans, securities and other financial instruments that are not 606. not We generally satisfy our performance obligations on contracts with customers as services are rendered, and the transaction prices are typically fixed and charged either on a periodic basis (generally monthly) or based on activity. Because performance obligations are satisfied as services are rendered and the transaction prices are fixed, there is little judgment involved in applying Topic 606 |
Advertising Cost [Policy Text Block] | Advertising Costs |
Income Tax, Policy [Policy Text Block] | Income Taxes |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair Values of Financial Instruments not not |
Earnings Per Share, Policy [Policy Text Block] | Earnings Per Share |
Comprehensive Income, Policy [Policy Text Block] | Comprehensive Income |
Derivatives, Policy [Policy Text Block] | Derivatives not 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 assets and liabilities 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 If designated as a hedge, we formally document the relationship between the derivative instrument and the hedged item, as well as the risk-management objective and the strategy for undertaking the hedge transaction. This documentation includes linking cash flow hedges to specific assets 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 instrument that is used is 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 no |
Commitments and Contingencies, Policy [Policy Text Block] | Contingencies: not |
Reclassification, Policy [Policy Text Block] | Reclassifications |
New Accounting Pronouncements, Policy [Policy Text Block] | Accounting Standards Updates February 2016, 2016 02, Leases 2018 01, 2018 10, 2018 11 2018 20 12 December 15, 2018. January 1, 2019 $1.3 In June 2016, No. 2016 13, Measurement of Credit Losses on Financial Instruments 2018 19 not not December 15, 2019. We will adopt the guidance prospectively with a cumulative adjustment to retained earnings effective January 1, 2020. $1.0 $0.8 not no |
Note 1 - Summary of Significa_2
Note 1 - Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Mortgage Loans Held for Sale [Table Text Block] | 2019 2018 Mortgage loans held for sale $ 4,978,000 $ 1,122,000 Less: Allowance to adjust to lower of cost or market 0 0 Mortgage loans held for sale, net $ 4,978,000 $ 1,122,000 |
Note 3 - Securities (Tables)
Note 3 - Securities (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Available-for-sale Securities [Table Text Block] | Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value 2019 U.S. Government agency debt obligations $ 185,103,000 $ 2,449,000 $ (1,142,000 ) $ 186,410,000 Mortgage-backed securities 41,998,000 554,000 (82,000 ) 42,470,000 Municipal general obligation bonds 98,245,000 2,864,000 (30,000 ) 101,079,000 Municipal revenue bonds 4,133,000 63,000 0 4,196,000 Other investments 500,000 0 0 500,000 $ 329,979,000 $ 5,930,000 $ (1,254,000 ) $ 334,655,000 201 8 U.S. Government agency debt obligations $ 196,109,000 $ 310,000 $ (9,342,000 ) $ 187,077,000 Mortgage-backed securities 44,263,000 187,000 (792,000 ) 43,658,000 Municipal general obligation bonds 103,235,000 427,000 (1,165,000 ) 102,497,000 Municipal revenue bonds 3,688,000 4,000 (58,000 ) 3,634,000 Other investments 500,000 0 0 500,000 $ 347,795,000 $ 928,000 $ (11,357,000 ) $ 337,366,000 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Table Text Block] | Less than 12 Months 12 Months or More Total Description of Securities Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss 2019 U.S. Government agency debt obligations $ 25,650,000 $ 349,000 $ 73,913,000 $ 793,000 $ 99,563,000 $ 1,142,000 Mortgage-backed securities 2,838,000 28,000 10,423,000 54,000 13,261,000 82,000 Municipal general obligation bonds 3,755,000 18,000 994,000 12,000 4,749,000 30,000 Municipal revenue bonds 0 0 0 0 0 0 Other investments 0 0 0 0 0 0 $ 32,243,000 $ 395,000 $ 85,330,000 $ 859,000 $ 117,573,000 $ 1,254,000 201 8 U.S. Government agency debt obligations $ 31,220,000 $ 1,136,000 $ 136,445,000 $ 8,206,000 $ 167,665,000 $ 9,342,000 Mortgage-backed securities 11,460,000 136,000 23,762,000 656,000 35,222,000 792,000 Municipal general obligation bonds 28,923,000 299,000 43,961,000 866,000 72,884,000 1,165,000 Municipal revenue bonds 1,188,000 11,000 1,372,000 47,000 2,560,000 58,000 Other investments 0 0 0 0 0 0 $ 72,791,000 $ 1,582,000 $ 205,540,000 $ 9,775,000 $ 278,331,000 $ 11,357,000 |
Investments Classified by Contractual Maturity Date [Table Text Block] | Weighted Average Yield Amortized Cost Fair Value Due in one year or less 2.04% $ 14,118,000 $ 14,136,000 Due from one to five years 2.36 52,865,000 53,389,000 Due from five to ten years 2.66 105,156,000 106,960,000 Due after ten years 3.09 115,342,000 117,200,000 Mortgage-backed securities 2.76 41,998,000 42,470,000 Other investments 5.88 500,000 500,000 2.76% $ 329,979,000 $ 334,655,000 |
Note 4 - Loans and Allowance _2
Note 4 - Loans and Allowance for Loan Losses (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | December 31, 2019 December 31, 2018 Percent Increase Balance % Balance % (Decrease) Originated Loans Commercial: Commercial and industrial $ 799,421,000 30.6 % $ 768,698,000 31.3 % 4.0 % Vacant land, land development, and residential construction 52,097,000 2.0 39,950,000 1.6 30.4 Real estate – owner occupied 542,561,000 20.8 500,188,000 20.4 8.5 Real estate – non-owner occupied 776,994,000 29.7 745,127,000 30.4 4.3 Real estate – multi-family and residential rental 100,344,000 3.8 98,035,000 4.0 2.4 Total commercial 2,271,417,000 86.9 2,151,998,000 87.7 5.5 Retail: Home equity and other 61,060,000 2.3 65,023,000 2.7 (6.1 ) 1-4 family mortgages 282,248,000 10.8 235,425,000 9.6 19.9 Total retail 343,308,000 13.1 300,448,000 12.3 14.3 Total originated loans $ 2,614,725,000 100.0 % $ 2,452,446,000 100.0 % 6.6 % December 31, 2019 December 31, 2018 Percent Increase Balance % Balance % (Decrease) Acquired Loans Commercial: Commercial and industrial $ 47,130,000 19.4 % $ 54,025,000 18.0 % (12.8 %) Vacant land, land development, and residential construction 4,022,000 1.7 4,935,000 1.6 (18.5 ) Real estate – owner occupied 36,442,000 15.1 48,431,000 16.1 (24.8 ) Real estate – non-owner occupied 58,352,000 24.1 71,155,000 23.7 (18.0 ) Real estate – multi-family and residential rental 24,181,000 10.0 29,562,000 9.8 (18.2 ) Total commercial 170,127,000 70.3 208,108,000 69.2 (18.3 ) Retail: Home equity and other 14,314,000 5.9 20,416,000 6.8 (29.9 ) 1-4 family mortgages 57,501,000 23.8 72,115,000 24.0 (20.3 ) Total retail 71,815,000 29.7 92,531,000 30.8 (22.4 ) Total acquired loans $ 241,942,000 100.0 % $ 300,639,000 100.0 % (19.5 %) December 31, 2019 December 31, 2018 Percent Increase Balance % Balance % (Decrease) Total Loans Commercial: Commercial and industrial $ 846,551,000 29.6 % $ 822,723,000 29.9 % 2.9 % Vacant land, land development, and residential construction 56,119,000 2.0 44,885,000 1.6 25.0 Real estate – owner occupied 579,003,000 20.3 548,619,000 19.9 5.5 Real estate – non-owner occupied 835,346,000 29.2 816,282,000 29.7 2.3 Real estate – multi-family and residential rental 124,525,000 4.4 127,597,000 4.6 (2.4 ) Total commercial 2,441,544,000 85.5 2,360,106,000 85.7 3.5 Retail: Home equity and other 75,374,000 2.6 85,439,000 3.1 (11.8 ) 1-4 family mortgages 339,749,000 11.9 307,540,000 11.2 10.5 Total retail 415,123,000 14.5 392,979,000 14.3 5.6 Total loans $ 2,856,667,000 100.0 % $ 2,753,085,000 100.0 % 3.8 % |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Accretable Yield Movement [Table Text Block] | 2019 Balance at December 31, 2018 $ 1,274,000 Additions 9,000 Accretion income (407,000 ) Net reclassification from nonaccretable to accretable 488,000 Reductions (1) (88,000 ) Balance at December 31, 2019 $ 1,276,000 2018 Balance at December 31, 2017 $ 1,404,000 Additions 0 Accretion income (490,000 ) Net reclassification from nonaccretable to accretable 437,000 Reductions (1) (77,000 ) Balance at December 31, 2018 $ 1,274,000 |
Concentrations Within Loan Portfolio [Table Text Block] | 2019 2018 Percentage of Percentage of Balance Loan Portfolio Balance Loan Portfolio Commercial real estate loans to lessors of non-residential buildings $ 580,708,000 20.3 % $ 568,134,000 20.6 % |
Financing Receivable, Nonaccrual [Table Text Block] | 2019 2018 Loans past due 90 days or more still accruing interest $ 0 $ 0 Nonaccrual loans 677,000 803,000 Total nonperforming loans $ 677,000 $ 803,000 2019 2018 Loans past due 90 days or more still accruing interest $ 0 $ 0 Nonaccrual loans 1,607,000 3,338,000 Total nonperforming loans $ 1,607,000 $ 3,338,000 December 31, 2019 December 31, 2018 Commercial: Commercial and industrial $ 0 $ 17,000 Vacant land, land development, and residential construction 0 0 Real estate – owner occupied 134,000 950,000 Real estate – non-owner occupied 0 0 Real estate – multi-family and residential rental 2,000 141,000 Total commercial 136,000 1,108,000 Retail: Home equity and other 255,000 454,000 1-4 family mortgages 1,893,000 2,579,000 Total retail 2,148,000 3,033,000 Total nonperforming loans $ 2,284,000 $ 4,141,000 |
Financing Receivable, Past Due [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 $ 0 $ 0 $ 0 $ 0 $ 799,421,000 $ 799,421,000 $ 0 Vacant land, land development, and residential construction 0 0 0 0 52,097,000 52,097,000 0 Real estate – owner occupied 0 0 134,000 134,000 542,427,000 542,561,000 0 Real estate – non-owner occupied 0 0 0 0 776,994,000 776,994,000 0 Real estate – multi-family and residential rental 0 0 0 0 100,344,000 100,344,000 0 Total commercial 0 0 134,000 134,000 2,271,283,000 2,271,417,000 0 Retail: Home equity and other 107,000 50,000 0 157,000 60,903,000 61,060,000 0 1- 4 family mortgages 61,000 0 130,000 191,000 282,057,000 282,248,000 0 Total retail 168,000 50,000 130,000 348,000 342,960,000 343,308,000 0 Total past due loans $ 168,000 $ 50,000 $ 264,000 $ 482,000 $ 2,614,243,000 $ 2,614,725,000 $ 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 $ 0 $ 0 $ 0 $ 47,130,000 $ 47,130,000 $ 0 Vacant land, land development, and residential construction 191,000 0 0 191,000 3,831,000 4,022,000 0 Real estate – owner occupied 0 0 0 0 36,442,000 36,442,000 0 Real estate – non-owner occupied 0 0 0 0 58,352,000 58,352,000 0 Real estate – multi-family and residential rental 0 0 0 0 24,181,000 24,181,000 0 Total commercial 191,000 0 0 191,000 169,936,000 170,127,000 0 Retail: Home equity and other 64,000 15,000 20,000 99,000 14,215,000 14,314,000 0 1- 4 family mortgages 684,000 29,000 399,000 1,112,000 56,389,000 57,501,000 0 Total retail 748,000 44,000 419,000 1,211,000 70,604,000 71,815,000 0 Total past due loans $ 939,000 $ 44,000 $ 419,000 $ 1,402,000 $ 240,540,000 $ 241,942,000 $ 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 $ 186,000 $ 0 $ 0 $ 186,000 $ 768,512,000 $ 768,698,000 $ 0 Vacant land, land development, and residential construction 0 0 0 0 39,950,000 39,950,000 0 Real estate – owner occupied 0 0 0 0 500,188,000 500,188,000 0 Real estate – non-owner occupied 0 0 0 0 745,127,000 745,127,000 0 Real estate – multi-family and residential rental 0 0 0 0 98,035,000 98,035,000 0 Total commercial 186,000 0 0 186,000 2,151,812,000 2,151,998,000 0 Retail: Home equity and other 44,000 0 0 44,000 64,979,000 65,023,000 0 1- 4 family mortgages 291,000 0 137,000 428,000 234,997,000 235,425,000 0 Total retail 335,000 0 137,000 472,000 299,976,000 300,448,000 0 Total past due loans $ 521,000 $ 0 $ 137,000 $ 658,000 $ 2,451,788,000 $ 2,452,446,000 $ 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 $ 8,000 $ 0 $ 0 $ 8,000 $ 54,017,000 $ 54,025,000 $ 0 Vacant land, land development, and residential construction 19,000 0 0 19,000 4,916,000 4,935,000 0 Real estate – owner occupied 108,000 950,000 0 1,058,000 47,373,000 48,431,000 0 Real estate – non-owner occupied 62,000 0 0 62,000 71,093,000 71,155,000 0 Real estate – multi-family and residential rental 0 0 0 0 29,562,000 29,562,000 0 Total commercial 197,000 950,000 0 1,147,000 206,961,000 208,108,000 0 Retail: Home equity and other 167,000 31,000 0 198,000 20,218,000 20,416,000 0 1- 4 family mortgages 821,000 347,000 612,000 1,780,000 70,335,000 72,115,000 0 Total retail 988,000 378,000 612,000 1,978,000 90,553,000 92,531,000 0 Total past due loans $ 1,185,000 $ 1,328,000 $ 612,000 $ 3,125,000 $ 297,514,000 $ 300,639,000 $ 0 |
Impaired Financing Receivables [Table Text Block] | Unpaid Contractual Principal Balance Recorded Principal Balance Related Allowance Year-To- Date Average Recorded Principal Balance With no related allowance recorded: Commercial: Commercial and industrial $ 7,826,000 $ 7,826,000 $ 11,259,000 Vacant land, land development and residential construction 85,000 85,000 89,000 Real estate – owner occupied 655,000 607,000 893,000 Real estate – non-owner occupied 0 0 0 Real estate – multi-family and residential rental 0 0 25,000 Total commercial 8,566,000 8,518,000 12,266,000 Retail: Home equity and other 708,000 691,000 682,000 1-4 family mortgages 1,117,000 514,000 385,000 Total retail 1,825,000 1,205,000 1,067,000 Total with no related allowance recorded $ 10,391,000 $ 9,723,000 $ 13,333,000 Unpaid Contractual Principal Balance Recorded Principal Balance Related Allowance Year-To- Date Average Recorded Principal Balance With an allowance recorded: Commercial: Commercial and industrial $ 332,000 $ 332,000 $ 172,000 $ 5,567,000 Vacant land, land development and residential construction 0 0 0 0 Real estate – owner occupied 978,000 978,000 978,000 1,573,000 Real estate – non-owner occupied 0 0 0 0 Real estate – multi-family and residential rental 0 0 0 53,000 Total commercial 1,310,000 1,310,000 1,150,000 7,193,000 Retail: Home equity and other 347,000 332,000 247,000 383,000 1-4 family mortgages 0 0 0 267,000 Total retail 347,000 332,000 247,000 650,000 Total with an allowance recorded $ 1,657,000 $ 1,642,000 $ 1,397,000 $ 7,843,000 Total impaired loans: Commercial $ 9,876,000 $ 9,828,000 $ 1,150,000 $ 19,459,000 Retail 2,172,000 1,537,000 247,000 1,717,000 Total impaired originated loans $ 12,048,000 $ 11,365,000 $ 1,397,000 $ 21,176,000 Unpaid Contractual Principal Balance Recorded Principal Balance Related Allowance Year-To- Date Average Recorded Principal Balance With no related allowance recorded: Commercial: Commercial and industrial $ 303,000 $ 303,000 $ 351,000 Vacant land, land development and residential construction 0 0 0 Real estate – owner occupied 60,000 60,000 627,000 Real estate – non-owner occupied 178,000 178,000 131,000 Real estate – multi-family and residential rental 29,000 9,000 19,000 Total commercial 570,000 550,000 1,128,000 Retail: Home equity and other 571,000 518,000 521,000 1-4 family mortgages 2,155,000 1,454,000 1,693,000 Total retail 2,726,000 1,972,000 2,214,000 Total with no related allowance recorded $ 3,296,000 $ 2,522,000 $ 3,342,000 Unpaid Contractual Principal Balance Recorded Principal Balance Related Allowance Year-To- Date Average Recorded Principal Balance With an allowance recorded: Commercial: Commercial and industrial $ 128,000 $ 126,000 $ 30,000 $ 142,000 Vacant land, land development and residential construction 0 0 0 0 Real estate – owner occupied 100,000 100,000 4,000 99,000 Real estate – non-owner occupied 0 0 0 80,000 Real estate – multi-family and residential rental 0 0 0 1,000 Total commercial 228,000 226,000 34,000 322,000 Retail: Home equity and other 155,000 153,000 109,000 275,000 1-4 family mortgages 358,000 356,000 83,000 393,000 Total retail 513,000 509,000 192,000 668,000 Total with an allowance recorded $ 741,000 $ 735,000 $ 226,000 $ 990,000 Total impaired loans: Commercial $ 798,000 $ 776,000 $ 34,000 $ 1,450,000 Retail 3,239,000 2,481,000 192,000 2,882,000 Total impaired acquired loans $ 4,037,000 $ 3,257,000 $ 226,000 $ 4,332,000 Unpaid Contractual Principal Balance Recorded Principal Balance Related Allowance Year-To- Date Average Recorded Principal Balance With no related allowance recorded: Commercial: Commercial and industrial $ 8,604,000 $ 8,604,000 $ 2,096,000 Vacant land, land development and residential construction 94,000 94,000 65,000 Real estate – owner occupied 632,000 632,000 1,145,000 Real estate – non-owner occupied 0 0 0 Real estate – multi-family and residential rental 0 0 187,000 Total commercial 9,330,000 9,330,000 3,493,000 Retail: Home equity and other 607,000 586,000 691,000 1-4 family mortgages 1,053,000 390,000 414,000 Total retail 1,660,000 976,000 1,105,000 Total with no related allowance recorded $ 10,990,000 $ 10,306,000 $ 4,598,000 Unpaid Contractual Principal Balance Recorded Principal Balance Related Allowance Year-To- Date Average Recorded Principal Balance With an allowance recorded: Commercial: Commercial and industrial $ 5,011,000 $ 5,011,000 $ 83,000 $ 3,455,000 Vacant land, land development and residential construction 0 0 0 0 Real estate – owner occupied 2,658,000 2,658,000 363,000 2,072,000 Real estate – non-owner occupied 0 0 0 0 Real estate – multi-family and residential rental 140,000 135,000 5,000 112,000 Total commercial 7,809,000 7,804,000 451,000 5,639,000 Retail: Home equity and other 442,000 431,000 193,000 600,000 1-4 family mortgages 409,000 341,000 44,000 299,000 Total retail 851,000 772,000 237,000 899,000 Total with an allowance recorded $ 8,660,000 $ 8,576,000 $ 688,000 $ 6,538,000 Total impaired loans: Commercial $ 17,139,000 $ 17,134,000 $ 451,000 $ 9,132,000 Retail 2,511,000 1,748,000 237,000 2,004,000 Total impaired originated loans $ 19,650,000 $ 18,882,000 $ 688,000 $ 11,136,000 Unpaid Contractual Principal Balance Recorded Principal Balance Related Allowance Year-To- Date Average Recorded Principal Balance With no related allowance recorded: Commercial: Commercial and industrial $ 398,000 $ 398,000 $ 690,000 Vacant land, land development and residential construction 0 0 0 Real estate – owner occupied 1,193,000 1,193,000 749,000 Real estate – non-owner occupied 0 0 182,000 Real estate – multi-family and residential rental 45,000 26,000 73,000 Total commercial 1,636,000 1,617,000 1,694,000 Retail: Home equity and other 388,000 361,000 615,000 1-4 family mortgages 2,494,000 1,849,000 2,031,000 Total retail 2,882,000 2,210,000 2,646,000 Total with no related allowance recorded $ 4,518,000 $ 3,827,000 $ 4,340,000 Unpaid Contractual Principal Balance Recorded Principal Balance Related Allowance Year-To- Date Average Recorded Principal Balance With an allowance recorded: Commercial: Commercial and industrial $ 175,000 $ 166,000 $ 43,000 $ 33,000 Vacant land, land development and residential construction 0 0 0 0 Real estate – owner occupied 147,000 147,000 0 349,000 Real estate – non-owner occupied 210,000 210,000 0 42,000 Real estate – multi-family and residential rental 3,000 3,000 0 1,000 Total commercial 535,000 526,000 43,000 425,000 Retail: Home equity and other 462,000 440,000 178,000 95,000 1-4 family mortgages 418,000 371,000 89,000 74,000 Total retail 880,000 811,000 267,000 169,000 Total with an allowance recorded $ 1,415,000 $ 1,337,000 $ 310,000 $ 594,000 Total impaired loans: Commercial $ 2,171,000 $ 2,143,000 $ 43,000 $ 2,119,000 Retail 3,762,000 3,021,000 267,000 2,815,000 Total impaired acquired loans $ 5,933,000 $ 5,164,000 $ 310,000 $ 4,934,000 |
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 $ 491,385,000 $ 25,037,000 $ 333,051,000 $ 515,914,000 $ 69,474,000 Grades 5 – 7 293,678,000 26,975,000 203,318,000 261,080,000 30,727,000 Grades 8 – 9 14,358,000 85,000 6,192,000 0 143,000 Total commercial $ 799,421,000 $ 52,097,000 $ 542,561,000 $ 776,994,000 $ 100,344,000 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 $ 30,535,000 $ 1,028,000 $ 18,620,000 $ 47,173,000 $ 15,678,000 Grades 5 – 7 16,146,000 2,741,000 17,662,000 11,044,000 8,476,000 Grades 8 – 9 449,000 253,000 160,000 135,000 27,000 Total commercial $ 47,130,000 $ 4,022,000 $ 36,442,000 $ 58,352,000 $ 24,181,000 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 $ 508,611,000 $ 28,170,000 $ 325,459,000 $ 526,445,000 $ 75,051,000 Grades 5 – 7 238,942,000 11,686,000 163,455,000 218,682,000 22,798,000 Grades 8 – 9 21,145,000 94,000 11,274,000 0 186,000 Total commercial $ 768,698,000 $ 39,950,000 $ 500,188,000 $ 745,127,000 $ 98,035,000 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 $ 34,678,000 $ 1,246,000 $ 21,595,000 $ 54,401,000 $ 16,050,000 Grades 5 – 7 19,122,000 3,431,000 25,485,000 16,687,000 13,460,000 Grades 8 – 9 225,000 258,000 1,351,000 67,000 52,000 Total commercial $ 54,025,000 $ 4,935,000 $ 48,431,000 $ 71,155,000 $ 29,562,000 |
Financing Receivable, Allowance for Credit Loss [Table Text Block] | Commercial Loans Retail Loans Unallocated Total Allowance for loan losses: Beginning balance $ 19,442,000 $ 2,068,000 $ 44,000 $ 21,554,000 Provision for loan losses 1,521,000 320,000 26,000 1,867,000 Charge-offs (455,000 ) (428,000 ) 0 (883,000 ) Recoveries 326,000 302,000 0 628,000 Ending balance $ 20,834,000 $ 2,262,000 $ 70,000 $ 23,166,000 Ending balance: individually evaluated for impairment $ 1,150,000 $ 247,000 $ 0 $ 1,397,000 Ending balance: collectively evaluated for impairment $ 19,684,000 $ 2,015,000 $ 70,000 $ 21,769,000 Total loans: Ending balance $ 2,271,417,000 $ 343,308,000 $ 2,614,725,000 Ending balance: individually evaluated for impairment $ 9,828,000 $ 1,537,000 $ 11,365,000 Ending balance: collectively evaluated for impairment $ 2,261,589,000 $ 341,771,000 $ 2,603,360,000 Commercial Loans Retail Loans Unallocated Total Allowance for loan losses: Beginning balance $ 177,000 $ 649,000 $ 0 $ 826,000 Provision for loan losses 57,000 (174,000 ) 0 (117,000 ) Charge-offs 0 0 0 0 Recoveries 2,000 12,000 0 14,000 Ending balance $ 236,000 $ 487,000 $ 0 $ 723,000 Commercial Loans Retail Loans Unallocated Total Allowance for loan losses: Beginning balance $ 16,456,000 $ 2,584,000 $ 93,000 $ 19,133,000 Provision for loan losses 826,000 (377,000 ) (49,000 ) 400,000 Charge-offs (428,000 ) (761,000 ) 0 (1,189,000 ) Recoveries 2,588,000 622,000 0 3,210,000 Ending balance $ 19,442,000 $ 2,068,000 $ 44,000 $ 21,554,000 Ending balance: individually evaluated for impairment $ 451,000 $ 237,000 $ 0 $ 688,000 Ending balance: collectively evaluated for impairment $ 18,991,000 $ 1,831,000 $ 44,000 $ 20,866,000 Total loans: Ending balance $ 2,151,998,000 $ 300,448,000 $ 2,452,446,000 Ending balance: individually evaluated for impairment $ 17,134,000 $ 1,748,000 $ 18,882,000 Ending balance: collectively evaluated for impairment $ 2,134,864,000 $ 298,700,000 $ 2,433,564,000 Commercial Loans Retail Loans Unallocated Total Allowance for loan losses: Beginning balance $ 291,000 $ 77,000 $ 0 $ 368,000 Provision for loan losses 132,000 568,000 0 700,000 Charge-offs (246,000 ) (15,000 ) 0 (261,000 ) Recoveries 0 19,000 0 19,000 Ending balance $ 177,000 $ 649,000 $ 0 $ 826,000 Commercial Loans Retail Loans Unallocated Total Allowance for loan losses: Beginning balance $ 16,026,000 $ 1,882,000 $ (40,000 ) $ 17,868,000 Provision for loan losses 1,148,000 1,360,000 133,000 2,641,000 Charge-offs (2,292,000 ) (891,000 ) 0 (3,183,000 ) Recoveries 1,574,000 233,000 0 1,807,000 Ending balance $ 16,456,000 $ 2,584,000 $ 93,000 $ 19,133,000 Ending balance: individually evaluated for impairment $ 1,202,000 $ 665,000 $ 0 $ 1,867,000 Ending balance: collectively evaluated for impairment $ 15,254,000 $ 1,919,000 $ 93,000 $ 17,266,000 Total loans: Ending balance $ 1,934,228,000 $ 235,729,000 $ 2,169,957,000 Ending balance: individually evaluated for impairment $ 6,394,000 $ 2,393,000 $ 8,787,000 Ending balance: collectively evaluated for impairment $ 1,927,834,000 $ 233,336,000 $ 2,161,170,000 Commercial Loans Retail Loans Unallocated Total Allowance for loan losses: Beginning balance $ 75,000 $ 18,000 $ 0 $ 93,000 Provision for loan losses 210,000 99,000 0 309,000 Charge-offs (12,000 ) (40,000 ) 0 (52,000 ) Recoveries 18,000 0 0 18,000 Ending balance $ 291,000 $ 77,000 $ 0 $ 368,000 |
Financing Receivable, Troubled Debt Restructuring [Table Text Block] | Pre- Post- Modification Modification Recorded Recorded Number of Principal Principal Contracts Balance Balance Originated Loans Commercial: Commercial and industrial 5 $ 435,000 $ 435,000 Vacant land, land development and residential construction 1 87,000 87,000 Real estate – owner occupied 1 1,567,000 1,567,000 Real estate – non-owner occupied 0 0 0 Real estate – multi-family and residential rental 0 0 0 Total commercial 7 2,089,000 2,089,000 Retail: Home equity and other 4 51,000 51,000 1-4 family mortgages 0 0 0 Total retail 4 51,000 51,000 Total 11 $ 2,140,000 $ 2,140,000 Acquired Loans Commercial: Commercial and industrial 0 $ 0 $ 0 Vacant land, land development and residential construction 0 0 0 Real estate – owner occupied 1 102,000 102,000 Real estate – non-owner occupied 0 0 0 Real estate – multi-family and residential rental 0 0 0 Total commercial 1 102,000 102,000 Retail: Home equity and other 16 244,000 245,000 1-4 family mortgages 8 310,000 310,000 Total retail 24 554,000 555,000 Total 25 $ 656,000 $ 657,000 Pre- Post- Modification Modification Recorded Recorded Number of Principal Principal Contracts Balance Balance Originated Loans Commercial: Commercial and industrial 9 $ 12,297,000 $ 12,263,000 Vacant land, land development and residential construction 0 0 0 Real estate – owner occupied 1 2,284,000 2,284,000 Real estate – non-owner occupied 0 0 0 Real estate – multi-family and residential rental 0 0 0 Total commercial 10 14,581,000 14,547,000 Retail: Home equity and other 2 63,000 63,000 1-4 family mortgages 0 0 0 Total retail 2 63,000 63,000 Total 12 $ 14,644,000 $ 14,610,000 Acquired Loans Commercial: Commercial and industrial 0 $ 0 $ 0 Vacant land, land development and residential construction 0 0 0 Real estate – owner occupied 1 150,000 150,000 Real estate – non-owner occupied 0 0 0 Real estate – multi-family and residential rental 0 0 0 Total commercial 1 150,000 150,000 Retail: Home equity and other 16 414,000 416,000 1-4 family mortgages 4 91,000 90,000 Total retail 20 505,000 506,000 Total 21 $ 655,000 $ 656,000 |
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 1 20,000 1-4 family mortgages 2 106,000 Total retail 3 126,000 Total 3 $ 126,000 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 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 |
Trouble Debt Restructuring Activity [Table Text Block] | Commercial and Commercial Vacant Land, Land Development, and Residential Commercial Real Estate - Owner Commercial Real Estate - Non-Owner Commercial Real Estate - Multi-Family and Residential Industrial Construction Occupied Occupied Rental Commercial Loan Portfolio: Beginning Balance $ 13,590,000 $ 0 $ 2,682,000 $ 0 $ 0 Charge-Offs 0 0 0 0 0 Payments (20,244,000 ) (2,000 ) (2,947,000 ) 0 0 Transfers to ORE 0 0 0 0 0 Net Additions/Deletions 14,812,000 87,000 1,250,000 0 0 Ending Balance $ 8,158,000 $ 85,000 $ 985,000 $ 0 $ 0 Retail Home Equity and Other Retail 1-4 Family Mortgages Retail Loan Portfolio: Beginning Balance $ 938,000 $ 142,000 Charge-Offs 0 0 Payments (114,000 ) (110,000 ) Transfers to ORE 0 0 Net Additions/Deletions 50,000 0 Ending Balance $ 874,000 $ 32,000 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 $ 548,000 $ 0 $ 418,000 $ 210,000 $ 24,000 Charge-Offs 0 0 0 0 0 Payments (120,000 ) 0 (873,000 ) (32,000 ) (17,000 ) Transfers to ORE 0 0 (97,000 ) 0 0 Net Additions/Deletions 1,000 0 712,000 0 0 Ending Balance $ 429,000 $ 0 $ 160,000 $ 178,000 $ 7,000 Retail Home Equity and Other Retail 1-4 Family Mortgages Retail Loan Portfolio: Beginning Balance $ 464,000 $ 436,000 Charge-Offs (18,000 ) 0 Payments (158,000 ) (52,000 ) Transfers to ORE 0 0 Net Additions/Deletions 253,000 308,000 Ending Balance $ 541,000 $ 692,000 Commercial and Commercial Vacant Land, Land Development, and Residential Commercial Real Estate - Owner Commercial Real Estate - Non-Owner Commercial Real Estate - Multi-Family and Residential Industrial Construction Occupied Occupied Rental Commercial Loan Portfolio: Beginning Balance $ 2,989,000 $ 383,000 $ 1,599,000 $ 0 $ 0 Charge-Offs (230,000 ) 0 0 0 0 Payments (692,000 ) (383,000 ) (4,999,000 ) 0 0 Transfers to ORE 0 0 0 0 0 Net Additions/Deletions 11,523,000 0 6,082,000 0 0 Ending Balance $ 13,590,000 $ 0 $ 2,682,000 $ 0 $ 0 Retail Home Equity and Other Retail 1-4 Family Mortgages Retail Loan Portfolio: Beginning Balance $ 1,127,000 $ 146,000 Charge-Offs 0 0 Payments (251,000 ) (4,000 ) Transfers to ORE 0 0 Net Additions/Deletions 62,000 0 Ending Balance $ 938,000 $ 142,000 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 $ 1,001,000 $ 0 $ 427,000 $ 237,000 $ 41,000 Charge-Offs (275,000 ) 0 0 0 0 Payments (100,000 ) 0 (1,664,000 ) (27,000 ) (17,000 ) Transfers to ORE 0 0 (93,000 ) 0 0 Net Additions/Deletions (78,000 ) 0 1,748,000 0 0 Ending Balance $ 548,000 $ 0 $ 418,000 $ 210,000 $ 24,000 Retail Home Equity and Other Retail 1-4 Family Mortgages Retail Loan Portfolio: Beginning Balance $ 219,000 $ 393,000 Charge-Offs (30,000 ) 0 Payments (72,000 ) (37,000 ) Transfers to ORE (82,000 ) 0 Net Additions/Deletions 429,000 80,000 Ending Balance $ 464,000 $ 436,000 Commercial and Commercial Vacant Land, Land Development, and Residential Commercial Real Estate - Owner Commercial Real Estate - Non-Owner Commercial Real Estate - Multi-Family and Residential Industrial Construction Occupied Occupied Rental Commercial Loan Portfolio: Beginning Balance $ 1,503,000 $ 1,488,000 $ 906,000 $ 5,110,000 $ 716,000 Charge-Offs 0 0 0 0 0 Payments (2,021,000 ) (1,105,000 ) (242,000 ) (232,000 ) (405,000 ) Transfers to ORE 0 0 0 0 0 Net Additions/Deletions 3,507,000 0 935,000 (4,878,000 ) (311,000 ) Ending Balance $ 2,989,000 $ 383,000 $ 1,599,000 $ 0 $ 0 Retail Home Equity and Other Retail 1-4 Family Mortgages Retail Loan Portfolio: Beginning Balance $ 385,000 $ 157,000 Charge-Offs 0 0 Payments (57,000 ) (11,000 ) Transfers to ORE 0 0 Net Additions/Deletions 799,000 0 Ending Balance $ 1,127,000 $ 146,000 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 $ 1,125,000 $ 0 $ 900,000 $ 728,000 $ 60,000 Charge-Offs 0 0 (249,000 ) 0 0 Payments (550,000 ) (33,000 ) (257,000 ) (922,000 ) (1,084,000 ) Transfers to ORE 0 0 0 (291,000 ) 0 Net Additions/Deletions 426,000 33,000 33,000 722,000 1,065,000 Ending Balance $ 1,001,000 $ 0 $ 427,000 $ 237,000 $ 41,000 Retail Home Equity and Other Retail 1-4 Family Mortgages Retail Loan Portfolio: Beginning Balance $ 208,000 $ 326,000 Charge-Offs (25,000 ) 0 Payments (121,000 ) (188,000 ) Transfers to ORE 0 0 Net Additions/Deletions 157,000 255,000 Ending Balance $ 219,000 $ 393,000 |
Allowance Related to Loans Categorized as Troubled Debt Restructurings [Table Text Block] | December 31, 2019 December 31, 2018 Commercial: Commercial and industrial $ 202,000 $ 126,000 Vacant land, land development, and residential construction 0 0 Real estate – owner occupied 982,000 363,000 Real estate – non-owner occupied 0 0 Real estate – multi-family and residential rental 0 0 Total commercial 1,184,000 489,000 Retail: Home equity and other 311,000 337,000 1-4 family mortgages 83,000 110,000 Total retail 394,000 447,000 Total related allowance $ 1,578,000 $ 936,000 |
Retail Portfolio Segment [Member] | |
Notes Tables | |
Financing Receivable Credit Quality Indicators [Table Text Block] | Retail Retail Home Equity 1-4 Family and Other Mortgages Total retail $ 61,060,000 $ 282,248,000 Retail Retail Home Equity 1-4 Family and Other Mortgages Total retail $ 14,314,000 $ 57,501,000 Retail Retail Home Equity 1-4 Family and Other Mortgages Total retail $ 65,023,000 $ 235,425,000 Retail Retail Home Equity 1-4 Family and Other Mortgages Total retail $ 20,416,000 $ 72,115,000 |
Note 5 - Premises and Equipme_2
Note 5 - Premises and Equipment, Net (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | 2019 2018 Land and improvements $ 17,039,000 $ 18,198,000 Buildings 52,847,000 45,362,000 Furniture and equipment 22,712,000 18,139,000 92,598,000 81,699,000 Less: accumulated depreciation 35,271,000 33,378,000 Total premises and equipment $ 57,327,000 $ 48,321,000 |
Note 6 - Mortgage Loan Servic_2
Note 6 - Mortgage Loan Servicing (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Mortgage Loans Serviced for Others [Table Text Block] | 2019 2018 Mortgage loan portfolios serviced for: Federal Home Loan Mortgage Corporation $ 711,643,000 $ 599,262,000 Federal Home Loan Bank 15,317,000 16,333,000 Total mortgage loans serviced for others $ 726,960,000 $ 615,595,000 |
Servicing Asset at Amortized Cost [Table Text Block] | 2019 2018 Balance at beginning of year $ 4,436,000 $ 5,106,000 Additions 1,962,000 842,000 Amortized to expense (1,746,000 ) (1,512,000 ) Balance at end of year $ 4,652,000 $ 4,436,000 |
Schedule of Mortgage Servicing Rights Future Amortization Expense [Table Text Block] | 2020 $ 1,099,000 2021 925,000 2022 759,000 2023 604,000 2024 467,000 Thereafter 798,000 |
Note 7 - Core Deposit Intangi_2
Note 7 - Core Deposit Intangible Assets, Net (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | 2020 $ 1,403,000 2021 1,086,000 2022 768,000 2023 450,000 2024 133,000 |
Note 8 - Deposits (Tables)
Note 8 - Deposits (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Summary of Deposits and Percentage Change in Deposits [Table Text Block] | December 31, 2019 December 31, 2018 Percent Increase Balance % Balance % (Decrease) Noninterest-bearing demand $ 924,916,000 34.4 % $ 889,784,000 36.1 % 3.9 % Interest-bearing checking 332,373,000 12.3 339,089,000 13.8 (2.0 ) Money market 509,368,000 18.9 434,333,000 17.6 17.3 Savings 269,318,000 10.0 317,014,000 12.9 (15.0 ) Time, under $100,000 198,123,000 7.4 160,092,000 6.5 23.8 Time, $100,000 and over 322,827,000 12.0 210,164,000 8.5 53.6 Total local deposits 2,556,925,000 95.0 2,350,476,000 95.4 8.8 Out-of-area time, under $100,000 0 0.0 0 0.0 0.0 Out-of-area time, $100,000 and over 133,459,000 5.0 113,232,000 4.6 17.9 Total out-of-area deposits 133,459,000 5.0 113,232,000 4.6 17.9 Total deposits $ 2,690,384,000 100.0 % $ 2,463,708,000 100.0 % 9.2 % |
Contractual Maturities of Certificates of Deposits [Table Text Block] | 2019 2018 In one year or less $ 360,395,000 $ 204,253,000 In one to two years 173,512,000 167,484,000 In two to three years 82,480,000 58,671,000 In three to four years 16,019,000 36,690,000 In four to five years 22,003,000 16,390,000 Total certificates of deposit $ 654,409,000 $ 483,488,000 |
Contractual Maturities of Certificates of Deposits of More than Specified Amount [Table Text Block] | 2019 2018 Up to three months $ 100,635,000 $ 34,367,000 Three months to six months 59,838,000 41,939,000 Six months to twelve months 93,691,000 57,137,000 Over twelve months 202,122,000 189,953,000 Total certificates of deposit $ 456,286,000 $ 323,396,000 |
Note 9 - Securities Sold Unde_2
Note 9 - Securities Sold Under Agreements to Repurchase (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Repurchase Agreements [Table Text Block] | 2019 2018 Outstanding balance at year-end $ 102,675,000 $ 103,519,000 Weighted average interest rate at year-end 0.17 % 0.26 % Average daily balance during the year $ 105,234,000 $ 101,005,000 Weighted average interest rate during the year 0.24 % 0.24 % Maximum daily balance during the year $ 133,411,000 $ 123,046,000 |
Note 10 - Federal Home Loan B_2
Note 10 - Federal Home Loan Bank of Indianapolis Advances (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Maturities of Currently Outstanding FHLB Advances [Table Text Block] | 2020 $ 40,000,000 2021 70,000,000 2022 94,000,000 2023 80,000,000 2024 50,000,000 Thereafter 20,000,000 |
Note 11 - Federal Income Taxes
Note 11 - Federal Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | 2019 2018 2017 Current expense $ 10,978,000 $ 10,170,000 $ 13,978,000 Deferred expense 26,000 (372,000 ) (505,000 ) Effect of federal tax law change 0 0 1,336,000 Tax expense $ 11,004,000 $ 9,798,000 $ 14,809,000 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | 2019 2018 2017 Tax at statutory rate $ 12,697,000 $ 10,883,000 $ 16,129,000 Increase (decrease) from Tax-exempt interest (644,000 ) (620,000 ) (1,030,000 ) Bank owned life insurance (804,000 ) (201,000 ) (948,000 ) Effect of federal tax law change 0 0 1,336,000 Other (245,000 ) (264,000 ) (678,000 ) Tax expense $ 11,004,000 $ 9,798,000 $ 14,809,000 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | 2019 2018 Deferred income tax assets Allowance for loan losses $ 5,017,000 $ 4,700,000 Deferred compensation 577,000 630,000 Stock compensation 720,000 660,000 Nonaccrual loan interest income 239,000 297,000 Deferred loan fees 104,000 185,000 Capital loss carryforward 94,000 94,000 Fair value write-downs on foreclosed properties 26,000 15,000 Unrealized loss on securities 0 2,190,000 Other 683,000 340,000 Deferred tax asset before valuation allowance 7,460,000 9,111,000 Valuation allowance (94,000 ) (94,000 ) Deferred tax asset after valuation allowance 7,366,000 9,017,000 Deferred income tax liabilities Depreciation 1,743,000 1,205,000 Prepaid expenses 269,000 238,000 Core deposit intangible 787,000 1,142,000 Mortgage loan servicing rights 977,000 932,000 Unrealized gain on securities 982,000 0 Business combination adjustments 2,058,000 2,054,000 Other 485,000 183,000 Deferred tax liability 7,301,000 5,754,000 Total net deferred tax asset $ 65,000 $ 3,263,000 |
Note 12 - Stock-based Compens_2
Note 12 - Stock-based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Share-based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block] | 2019 2018 2017 Shares Weighted Average Fair Value Shares Weighted Average Fair Value Shares Weighted Average Fair Value Nonvested at beginning of year 262,967 $ 33.97 239,637 $ 32.37 228,343 $ 26.09 Granted 84,596 35.29 91,400 31.82 94,592 37.11 Vested (81,772 ) 32.19 (55,792 ) 25.14 (74,979 ) 20.17 Forfeited (3,531 ) 34.85 (12,278 ) 31.62 (8,319 ) 23.75 Nonvested at end of year 262,260 $ 34.91 262,967 $ 33.97 239,637 $ 32.37 |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | 2019 2018 2017 Shares Weighted Average Exercise Price Shares Weighted Average Exercise Price Shares Weighted Average Exercise Price Outstanding at beginning of year 13,700 $ 30.51 15,808 $ 29.62 16,808 $ 29.17 Granted 0 NA 0 NA 0 NA Exercised (4,000 ) 24.91 (2,108 ) 23.77 (1,000 ) 22.15 Forfeited or expired 0 NA 0 NA 0 NA Outstanding at end of year 9,700 $ 32.83 13,700 $ 30.51 15,808 $ 29.62 Options exercisable at year-end 9,700 $ 32.83 13,700 $ 30.51 9,308 $ 25.00 2019 2018 2017 Shares Weighted Average Exercise Price Shares Weighted Average Exercise Price Shares Weighted Average Exercise Price Outstanding at beginning of year 5,200 $ 6.57 15,100 $ 7.20 44,275 $ 9.86 Granted 0 NA 0 NA 0 NA Exercised (4,200 ) 6.90 (9,900 ) 7.53 (27,675 ) 11.50 Forfeited or expired 0 NA 0 NA (1,500 ) 6.33 Outstanding at end of year 1,000 $ 5.19 5,200 $ 6.57 15,100 $ 7.20 Options exercisable at year-end 1,000 $ 5.19 5,200 $ 6.57 15,100 $ 7.20 |
Share-based Payment Arrangement, Option, Exercise Price Range [Table Text Block] | Outstanding Exercisable Weighted Average Weighted Weighted Range of Remaining Average Average Exercise Contractual Exercise Exercise Prices Number Life (Years) Price Number Price $22.00 - $23.00 1,000 1.9 $ 22.15 1,000 22.15 $27.00 - $28.00 2,200 2.9 27.66 2,200 27.66 $36.00 - $37.00 6,500 3.9 36.22 6,500 36.22 Outstanding at year end 9,700 3.4 $ 32.83 9,700 32.83 Outstanding Exercisable Weighted Average Weighted Weighted Range of Remaining Average Average Exercise Contractual Exercise Exercise Prices Number Life (Years) Price Number Price $ 5.00 - $ 6.00 1,000 0.9 5.19 1,000 5.19 Outstanding at year end 1,000 0.9 $ 5.19 1,000 $ 5.19 |
Schedule of Share-based Compensation Shares Authorized Under Stock Option Plans Information Related to Option Outstanding [Table Text Block] | 2019 2018 2017 Minimum exercise price $ 22.15 $ 22.15 $ 22.15 Maximum exercise price 36.22 36.22 36.22 Average remaining option term (years) 3.4 4.1 5.0 2019 2018 2017 Minimum exercise price $ 5.19 $ 5.19 $ 5.19 Maximum exercise price 5.19 8.60 8.60 Average remaining option term (years) 0.9 1.5 1.7 |
Schedule of Share Based Compensation Arrangement by Share Based Payment Award Options Information Related to Stock Option Grants and Exercised [Table Text Block] | 2019 2018 2017 Aggregate intrinsic value of stock options exercised $ 43,000 $ 17,000 $ 15,000 Cash received from stock option exercises 97,000 33,000 0 Tax benefit realized from stock option exercises 0 0 0 Weighted average per share fair value of stock options granted NA NA NA 2019 2018 2017 Aggregate intrinsic value of stock options exercised $ 114,000 $ 300,000 $ 594,000 Cash received from stock option exercises 29,000 108,000 318,000 Tax benefit realized from stock option exercises 0 0 208,000 Weighted average per share fair value of stock options granted NA NA NA |
Note 13 - Related Parties (Tabl
Note 13 - Related Parties (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Related Party Transactions [Table Text Block] | 2019 2018 Beginning balance $ 92,033,000 $ 14,473,000 New loans 16,662,000 79,330,000 Repayments (4,652,000 ) (1,770,000 ) Ending balance $ 104,043,000 $ 92,033,000 |
Note 14 - Commitments and Off_2
Note 14 - Commitments and Off-balance Sheet Risk (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Summary of Contractual Amounts of Financial Instruments With Off Balance Sheet Risk [Table Text Block] | 2019 2018 Commercial unused lines of credit $ 776,493,000 $ 784,895,000 Unused lines of credit secured by 1 – 4 family residential properties 60,858,000 57,378,000 Credit card unused lines of credit 58,199,000 47,432,000 Other consumer unused lines of credit 18,135,000 20,231,000 Commitments to make loans 101,961,000 101,517,000 Standby letters of credit 22,798,000 25,322,000 Total commitments $ 1,038,444,000 $ 1,036,775,000 |
Schedule of Fair Value, Off-balance Sheet Risks [Table Text Block] | 2019 2018 Contract Carrying Contract Carrying Amount Value Amount Value Standby letters of credit $ 22,798,000 $ 160,000 $ 25,322,000 $ 126,000 |
Note 16 - Fair Values of Fina_2
Note 16 - Fair Values of Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Fair Value, by Balance Sheet Grouping [Table Text Block] | Level in 2019 2018 Fair Value Carrying Fair Carrying Fair Hierarchy Amount Value Amount Value Financial assets Cash Level 1 $ 16,430 $ 16,430 $ 15,656 $ 15,656 Cash equivalents Level 2 217,301 217,301 59,698 59,698 Securities available for sale (1) 334,655 334,655 337,366 337,366 Federal Home Loan Bank stock (2) 18,002 18,002 16,022 16,022 Loans, net Level 3 2,827,800 2,887,168 2,729,583 2,711,687 Loans held for sale Level 2 4,978 4,978 1,122 1,122 Mortgage servicing rights Level 2 4,652 7,375 4,436 8,444 Accrued interest receivable Level 2 9,944 9,944 9,896 9,896 Financial liabilities Deposits Level 2 2,690,384 2,600,452 2,463,708 2,471,617 Securities sold under agreements to repurchase Level 2 102,675 102,675 103,519 103,519 Federal Home Loan Bank advances Level 2 354,000 361,887 350,000 348,428 Subordinated debentures Level 2 46,881 46,140 46,199 46,543 Accrued interest payable Level 2 3,949 3,949 2,249 2,249 |
Note 17 - Fair Values Measure_2
Note 17 - Fair Values Measurements (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
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 $ 186,410,000 $ 0 $ 186,410,000 $ 0 Mortgage-backed securities 42,470,000 0 42,470,000 0 Municipal general obligation bonds 101,079,000 0 99,029,000 2,050,000 Municipal revenue bonds 4,196,000 0 4,196,000 0 Other investments 500,000 0 500,000 0 Total $ 334,655,000 $ 0 $ 332,605,000 $ 2,050,000 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 debt obligations $ 187,077,000 $ 0 $ 187,077,000 $ 0 Mortgage-backed securities 43,658,000 0 43,658,000 0 Municipal general obligation bonds 102,497,000 0 98,768,000 3,729,000 Municipal revenue bonds 3,634,000 0 3,634,000 0 Other investments 500,000 0 500,000 0 Total $ 337,366,000 $ 0 $ 333,637,000 $ 3,729,000 |
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block] | Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable Assets Inputs Inputs Total (Level 1) (Level 2) (Level 3) Impaired loans $ 1,107,000 $ 0 $ 0 $ 1,107,000 Foreclosed assets 452,000 0 0 452,000 Total $ 1,559,000 $ 0 $ 0 $ 1,559,000 Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable Assets Inputs Inputs Total (Level 1) (Level 2) (Level 3) Impaired loans $ 8,181,000 $ 0 $ 0 $ 8,181,000 Foreclosed assets 811,000 0 0 811,000 Total $ 8,992,000 $ 0 $ 0 $ 8,992,000 |
Note 18 - Earnings Per Share (T
Note 18 - Earnings Per Share (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | 2019 2018 2017 Basic Net income attributable to common shares $ 49,456,000 $ 42,024,000 $ 31,274,000 Weighted average common shares outstanding 16,405,159 16,600,612 16,478,968 Basic earnings per common share $ 3.01 $ 2.53 $ 1.90 Diluted Net income attributable to common shares $ 49,456,000 $ 42,024,000 $ 31,274,000 Weighted average common shares outstanding for basic earnings per common share 16,405,159 16,600,612 16,478,968 Add: Dilutive effects of share-based awards 3,976 5,804 10,102 Average shares and dilutive potential common shares 16,409,135 16,606,416 16,489,070 Diluted earnings per common share $ 3.01 $ 2.53 $ 1.90 |
Note 19 - Subordinated Debent_2
Note 19 - Subordinated Debentures (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Subordinated Borrowing [Table Text Block] | Preferred Securities Trust Name Outstanding Interest Rate Maturity Date Mercantile Bank Capital Trust I $21,000,000 3 Month Libor + 218 bps September 16, 2034 Firstbank Capital Trust I $10,000,000 3 Month Libor + 199 bps October 18, 2034 Firstbank Capital Trust II $10,000,000 3 Month Libor + 127 bps April 7, 2036 Firstbank Capital Trust III $7,500,000 3 Month Libor + 135 bps July 30, 2037 Firstbank Capital Trust IV $7,500,000 3 Month Libor + 135 bps July 30, 2037 |
Note 20 - Regulatory Matters (T
Note 20 - Regulatory Matters (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
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 2019 Total capital (to risk weighted assets) Consolidated $ 429,038 13.1 % $ 262,141 8.0 % NA NA Bank 424,917 13.0 262,088 8.0 327,610 10.0 % Tier 1 capital (to risk weighted assets) Consolidated 405,148 12.4 196,606 6.0 NA NA Bank 401,027 12.2 196,566 6.0 262,088 8.0 Common equity (to risk weighted assets) Consolidated 360,342 11.0 147,454 4.5 NA NA Bank 401,027 12.2 147,425 4.5 212,947 6.5 Tier 1 capital (to average assets) Consolidated 405,148 11.3 143,689 4.0 NA NA Bank 401,027 11.2 143,670 4.0 179,588 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 2018 Total capital (to risk weighted assets) Consolidated $ 396,102 12.5 % $ 253,413 8.0 % NA NA Bank 388,591 12.3 253,225 8.0 316,531 10.0 % Tier 1 capital (to risk weighted assets) Consolidated 373,721 11.8 190,060 6.0 NA NA Bank 366,211 11.6 189,919 6.0 253,225 8.0 Common equity (to risk weighted assets) Consolidated 329,596 10.4 142,545 4.5 NA NA Bank 366,211 11.6 142,439 4.5 205,745 6.5 Tier 1 capital (to average assets) Consolidated 373,721 11.4 131,014 4.0 NA NA Bank 366,211 11.2 130,913 4.0 163,641 5.0 |
Note 22 - Quarterly Financial_2
Note 22 - Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Quarterly Financial Information [Table Text Block] | Interest Net Interest Net Earnings per Share Income Income Income Basic Diluted 2019 First quarter $ 38,637,000 $ 30,645,000 $ 11,824,000 $ 0.72 $ 0.72 Second quarter 39,820,000 31,116,000 11,715,000 0.71 0.71 Third quarter 40,316,000 31,605,000 12,600,000 0.77 0.77 Fourth quarter 39,564,000 31,168,000 13,317,000 0.81 0.81 201 8 First quarter $ 34,981,000 $ 30,199,000 $ 10,881,000 $ 0.66 $ 0.66 Second quarter 34,319,000 29,225,000 9,446,000 0.57 0.57 Third quarter 35,486,000 29,840,000 10,123,000 0.61 0.61 Fourth quarter 37,195,000 30,818,000 11,574,000 0.70 0.70 |
Note 23 - Mercantile Bank Cor_2
Note 23 - Mercantile Bank Corporation (Parent Company Only) Condensed Financial Statements (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Condensed Balance Sheet [Table Text Block] | 2019 2018 ASSETS Cash and cash equivalents $ 6,045,000 $ 9,653,000 Investment in bank subsidiary 439,946,000 394,561,000 Other assets 18,032,000 19,740,000 Total assets $ 464,023,000 $ 423,954,000 LIABILITIES AND SHAREHOLDERS’ EQUITY Liabilities $ 581,000 $ 2,506,000 Subordinated debentures 46,881,000 46,199,000 Shareholders’ equity 416,561,000 375,249,000 Total liabilities and shareholders’ equity $ 464,023,000 $ 423,954,000 |
Condensed Income Statement [Table Text Block] | 2019 2018 2017 Income Interest and dividends from subsidiaries $ 22,246,000 $ 33,832,000 $ 16,203,000 Total income 22,246,000 33,832,000 16,203,000 Expenses Interest expense 3,153,000 2,999,000 2,496,000 Other operating expenses 4,804,000 4,424,000 3,651,000 Total expenses 7,957,000 7,423,000 6,147,000 Income before income tax benefit and equity in undistributed net income of subsidiary 14,289,000 26,409,000 10,056,000 Federal income tax benefit (1,718,000 ) (1,610,000 ) (4,060,000 ) Equity in undistributed net income of subsidiary 33,449,000 14,005,000 17,158,000 Net income $ 49,456,000 $ 42,024,000 $ 31,274,000 Comprehensive income $ 61,390,000 $ 38,646,000 $ 32,821,000 |
Condensed Cash Flow Statement [Table Text Block] | 2019 2018 2017 Cash flows from operating activities Net income $ 49,456,000 $ 42,024,000 $ 31,274,000 Adjustments to reconcile net income to net cash from operating activities: Equity in undistributed net income of subsidiary (33,449,000 ) (14,005,000 ) (17,158,000 ) Stock-based compensation expense 2,931,000 2,410,000 1,981,000 Stock grants to directors for retainer fees 375,000 441,000 363,000 Change in other assets 2,387,000 1,384,000 (230,000 ) Change in other liabilities (1,924,000 ) (187,000 ) (677,000 ) Net cash from operating activities 19,776,000 32,067,000 15,553,000 Cash flows from investing activities Net capital investment into subsidiaries 0 0 0 Net cash for investing activities 0 0 0 Cash flows from financing activities Stock option exercises, net of cashless exercises 128,000 108,000 318,000 Employee stock purchase plan 50,000 52,000 46,000 Dividend reinvestment plan 729,000 1,165,000 1,576,000 Repurchase of common shares (7,183,000 ) (5,943,000 ) 0 Cash dividends on common stock (17,108,000 ) (27,500,000 ) (12,046,000 ) Net cash for financing activities (23,384,000 ) (32,118,000 ) (10,106,000 ) Net change in cash and cash equivalents (3,608,000 ) (51,000 ) 5,447,000 Cash and cash equivalents at beginning of period 9,653,000 9,704,000 4,257,000 Cash and cash equivalents at end of period $ 6,045,000 $ 9,653,000 $ 9,704,000 |
Note 1 - Summary of Significa_3
Note 1 - Summary of Significant Accounting Policies (Details Textual) | 12 Months Ended | ||||
Dec. 31, 2019USD ($) | Jan. 01, 2020USD ($) | Jan. 01, 2019USD ($) | Dec. 31, 2018USD ($) | Jun. 01, 2014USD ($) | |
Number of Unconsolidated Business Trusts Formed to Issue Trust Preferred Securities | 5 | ||||
Number of Operating Segments | 1 | ||||
Loans and Leases Receivable, Deferred Income, Total | $ 500,000 | $ 900,000 | |||
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 | ||||
Repossessed Assets, Total | $ 500,000 | 800,000 | |||
Loans and Leases Receivable, Allowance, Ending Balance | 23,889,000 | 22,380,000 | |||
Retained Earnings (Accumulated Deficit), Ending Balance | $ 107,831,000 | $ 75,483,000 | |||
Accounting Standards Update 2016-02 [Member] | |||||
Operating Lease, Right-of-Use Asset | $ 1,300,000 | ||||
Operating Lease, Liability, Total | $ 1,300,000 | ||||
Accounting Standards Update 2016-13 [Member] | Subsequent Event [Member] | |||||
Loans and Leases Receivable, Allowance, Ending Balance | $ (1,000,000) | ||||
Retained Earnings (Accumulated Deficit), Ending Balance | $ 800,000 | ||||
Core Deposits [Member] | |||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 10 years | ||||
Building and Building Improvements [Member] | Minimum [Member] | |||||
Property, Plant and Equipment, Useful Life | 5 years | ||||
Building and Building Improvements [Member] | Maximum [Member] | |||||
Property, Plant and Equipment, Useful Life | 33 years | ||||
Furniture and Fixtures [Member] | Minimum [Member] | |||||
Property, Plant and Equipment, Useful Life | 3 years | ||||
Furniture and Fixtures [Member] | Maximum [Member] | |||||
Property, Plant and Equipment, Useful Life | 7 years | ||||
Firstbank Corporation [Member] | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets, Total | $ 1,500,000,000 | ||||
Business Combination Branches Acquired | 46 |
Note 1 - Summary of Significa_4
Note 1 - Summary of Significant Accounting Policies - Year-end Mortgage Loans Held for Sale (Details) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Mortgage loans held for sale, net | $ 5,000,000 | $ 1,100,000 |
Mortgage Loans [Member] | ||
Mortgage loans held for sale | 4,978,000 | 1,122,000 |
Less: Allowance to adjust to lower of cost or market | 0 | 0 |
Mortgage loans held for sale, net | $ 4,978,000 | $ 1,122,000 |
Note 2 - Business Combination (
Note 2 - Business Combination (Details Textual) | Jun. 01, 2014USD ($)shares | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) |
Goodwill, Ending Balance | $ 49,473,000 | $ 49,473,000 | |
Firstbank Corporation [Member] | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets, Total | $ 1,500,000,000 | ||
Business Combination Branches Acquired | 46 | ||
Business Acquisition Conversion of Stock Per Share | shares | 1 | ||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | shares | 8,087,272 | ||
Goodwill, Ending Balance | $ 49,500,000 | ||
Business Acquisition, Goodwill, Expected Tax Deductible Amount | $ 0 |
Note 3 - Securities (Details Te
Note 3 - Securities (Details Textual) | 12 Months Ended | ||
Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | |
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 107 | ||
Debt Securities, Available-for-sale, Unrealized Loss Position, Total | $ 117,573,000 | $ 278,331,000 | |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss, Total | 1,254,000 | 11,357,000 | |
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Credit Losses on Debt Securities Held, Ending Balance | 0 | ||
Proceeds from Sale of Available-for-sale Securities, Total | 0 | 0 | $ 7,619,000 |
Debt Securities, Available-for-sale, Amortized Cost, Total | 329,979,000 | 347,795,000 | |
Debt Securities, Available-for-sale, Total | 334,655,000 | 337,366,000 | |
Collateralized Mortgage Backed Securities [Member] | |||
Debt Securities, Available-for-sale, Unrealized Loss Position, Total | 13,261,000 | 35,222,000 | |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss, Total | 82,000 | 792,000 | |
Proceeds from Sale of Available-for-sale Securities, Total | 0 | 0 | 5,000,000 |
Debt Securities, Available-for-sale, Amortized Cost, Total | 41,998,000 | 44,263,000 | |
Debt Securities, Available-for-sale, Total | 42,470,000 | 43,658,000 | |
Municipal General Obligation Bonds [Member] | |||
Debt Securities, Available-for-sale, Unrealized Loss Position, Total | 4,749,000 | 72,884,000 | |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss, Total | 30,000 | 1,165,000 | |
Proceeds from Sale of Available-for-sale Securities, Total | 0 | 0 | $ 2,600,000 |
Debt Securities, Available-for-sale, Amortized Cost, Total | 98,245,000 | 103,235,000 | |
Debt Securities, Available-for-sale, Total | 101,079,000 | 102,497,000 | |
State of Michigan and All Its Political Subdivisions [Member] | |||
Debt Securities, Available-for-sale, Amortized Cost, Total | 96,500,000 | 98,200,000 | |
Debt Securities, Available-for-sale, Total | 99,400,000 | 97,400,000 | |
All Other States and Their Political Subdivisions [Member] | |||
Debt Securities, Available-for-sale, Amortized Cost, Total | 5,900,000 | 8,700,000 | |
Debt Securities, Available-for-sale, Total | 5,900,000 | 8,700,000 | |
US Government Agency Debt Obligations and Mortgage Backed Securities [Member] | |||
Debt Securities, Available-for-sale, Restricted | $ 103,000,000 | $ 104,000,000 |
Note 3 - Securities - Available
Note 3 - Securities - Available-for-sale Securities (Details) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Amortized cost | $ 329,979,000 | $ 347,795,000 |
Securities available for sale, gross unrealized gains | 5,930,000 | 928,000 |
Securities available for sale, gross unrealized losses | (1,254,000) | (11,357,000) |
Fair value | 334,655,000 | 337,366,000 |
US Government Agencies Debt Securities [Member] | ||
Amortized cost | 185,103,000 | 196,109,000 |
Securities available for sale, gross unrealized gains | 2,449,000 | 310,000 |
Securities available for sale, gross unrealized losses | (1,142,000) | (9,342,000) |
Fair value | 186,410,000 | 187,077,000 |
Collateralized Mortgage Backed Securities [Member] | ||
Amortized cost | 41,998,000 | 44,263,000 |
Securities available for sale, gross unrealized gains | 554,000 | 187,000 |
Securities available for sale, gross unrealized losses | (82,000) | (792,000) |
Fair value | 42,470,000 | 43,658,000 |
Municipal General Obligation Bonds [Member] | ||
Amortized cost | 98,245,000 | 103,235,000 |
Securities available for sale, gross unrealized gains | 2,864,000 | 427,000 |
Securities available for sale, gross unrealized losses | (30,000) | (1,165,000) |
Fair value | 101,079,000 | 102,497,000 |
Municipal Revenue Bonds [Member] | ||
Amortized cost | 4,133,000 | 3,688,000 |
Securities available for sale, gross unrealized gains | 63,000 | 4,000 |
Securities available for sale, gross unrealized losses | 0 | (58,000) |
Fair value | 4,196,000 | 3,634,000 |
Other Debt and Equity Securities [Member] | ||
Amortized cost | 500,000 | 500,000 |
Securities available for sale, gross unrealized gains | 0 | 0 |
Securities available for sale, gross unrealized losses | 0 | 0 |
Fair value | $ 500,000 | $ 500,000 |
Note 3 - Securities - Securitie
Note 3 - Securities - Securities in a Continuous Loss Position (Details) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Securities available for sale, continuous unrealized loss position, less than 12 months | $ 32,243,000 | $ 72,791,000 |
Securities available for sale, continuous unrealized loss position, less than 12 months, unrealized loss | 395,000 | 1,582,000 |
Securities available for sale, continuous unrealized loss position, 12 months or more | 85,330,000 | 205,540,000 |
Securities available for sale, continuous unrealized loss position, 12 months or more, unrealized loss | 859,000 | 9,775,000 |
Securities available for sale, continuous unrealized loss position | 117,573,000 | 278,331,000 |
Securities available for sale, continuous unrealized loss position, unrealized loss | 1,254,000 | 11,357,000 |
US Government Agencies Debt Securities [Member] | ||
Securities available for sale, continuous unrealized loss position, less than 12 months | 25,650,000 | 31,220,000 |
Securities available for sale, continuous unrealized loss position, less than 12 months, unrealized loss | 349,000 | 1,136,000 |
Securities available for sale, continuous unrealized loss position, 12 months or more | 73,913,000 | 136,445,000 |
Securities available for sale, continuous unrealized loss position, 12 months or more, unrealized loss | 793,000 | 8,206,000 |
Securities available for sale, continuous unrealized loss position | 99,563,000 | 167,665,000 |
Securities available for sale, continuous unrealized loss position, unrealized loss | 1,142,000 | 9,342,000 |
Collateralized Mortgage Backed Securities [Member] | ||
Securities available for sale, continuous unrealized loss position, less than 12 months | 2,838,000 | 11,460,000 |
Securities available for sale, continuous unrealized loss position, less than 12 months, unrealized loss | 28,000 | 136,000 |
Securities available for sale, continuous unrealized loss position, 12 months or more | 10,423,000 | 23,762,000 |
Securities available for sale, continuous unrealized loss position, 12 months or more, unrealized loss | 54,000 | 656,000 |
Securities available for sale, continuous unrealized loss position | 13,261,000 | 35,222,000 |
Securities available for sale, continuous unrealized loss position, unrealized loss | 82,000 | 792,000 |
Municipal General Obligation Bonds [Member] | ||
Securities available for sale, continuous unrealized loss position, less than 12 months | 3,755,000 | 28,923,000 |
Securities available for sale, continuous unrealized loss position, less than 12 months, unrealized loss | 18,000 | 299,000 |
Securities available for sale, continuous unrealized loss position, 12 months or more | 994,000 | 43,961,000 |
Securities available for sale, continuous unrealized loss position, 12 months or more, unrealized loss | 12,000 | 866,000 |
Securities available for sale, continuous unrealized loss position | 4,749,000 | 72,884,000 |
Securities available for sale, continuous unrealized loss position, unrealized loss | 30,000 | 1,165,000 |
Municipal Revenue Bonds [Member] | ||
Securities available for sale, continuous unrealized loss position, less than 12 months | 0 | 1,188,000 |
Securities available for sale, continuous unrealized loss position, less than 12 months, unrealized loss | 0 | 11,000 |
Securities available for sale, continuous unrealized loss position, 12 months or more | 0 | 1,372,000 |
Securities available for sale, continuous unrealized loss position, 12 months or more, unrealized loss | 0 | 47,000 |
Securities available for sale, continuous unrealized loss position | 0 | 2,560,000 |
Securities available for sale, continuous unrealized loss position, unrealized loss | 0 | 58,000 |
Other Debt and Equity Securities [Member] | ||
Securities available for sale, continuous unrealized loss position, less than 12 months | 0 | 0 |
Securities available for sale, continuous unrealized loss position, less than 12 months, unrealized loss | 0 | 0 |
Securities available for sale, continuous unrealized loss position, 12 months or more | 0 | 0 |
Securities available for sale, continuous unrealized loss position, 12 months or more, unrealized loss | 0 | 0 |
Securities available for sale, continuous unrealized loss position | 0 | 0 |
Securities available for sale, continuous unrealized loss position, unrealized loss | $ 0 | $ 0 |
Note 3 - Securities - Debt Secu
Note 3 - Securities - Debt Securities by Maturity (Details) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Due in one year or less, weighted average yield | 2.04% | |
Due in one year or less, amortized cost | $ 14,118,000 | |
Due in one year or less, fair value | $ 14,136,000 | |
Due from one to five years, weighted average yield | 2.36% | |
Due from one to five years, amortized cost | $ 52,865,000 | |
Due from one to five years, fair value | $ 53,389,000 | |
Due from five to ten years, weighted average yield | 2.66% | |
Due from five to ten years, amortized cost | $ 105,156,000 | |
Due from five to ten years, fair value | $ 106,960,000 | |
Due after ten years, weighted average yield | 3.09% | |
Due after ten years, amortized cost | $ 115,342,000 | |
Due after ten years, fair value | $ 117,200,000 | |
Weighted average yield | 2.76% | |
Amortized cost | $ 329,979,000 | $ 347,795,000 |
Fair value | $ 334,655,000 | 337,366,000 |
Collateralized Mortgage Backed Securities [Member] | ||
No single maturity, weighted average yield | 2.76% | |
No single maturity, amortized cost | $ 41,998,000 | |
No single maturity, fair value | 42,470,000 | |
Amortized cost | 41,998,000 | 44,263,000 |
Fair value | $ 42,470,000 | 43,658,000 |
Other Debt and Equity Securities [Member] | ||
No single maturity, weighted average yield | 5.88% | |
No single maturity, amortized cost | $ 500,000 | |
No single maturity, fair value | 500,000 | |
Amortized cost | 500,000 | 500,000 |
Fair value | $ 500,000 | $ 500,000 |
Note 4 - Loans and Allowance _3
Note 4 - Loans and Allowance for Loan Losses (Details Textual) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance, Total | $ 5.7 | $ 8 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 3.4 | 4.6 | |
Impaired Financing Receivable, Interest Income, Accrual Method, Total | 1.3 | 1.1 | $ 0.4 |
Loans and Leases Receivable, Nonaccrual Loans, Interest Income Recognized | 0.1 | 0.1 | 0.5 |
Loans and Leases Receivable, Impaired, Interest Lost on Nonaccrual Loans | $ 0.1 | $ 0.3 | $ 0.3 |
Minimum Number of Days Past Due at Period End For Loans Modified as Troubled Debt Restructurings | 30 days |
Note 4 - Loans and Allowance _4
Note 4 - Loans and Allowance for Loan Losses - Components of Loan Portfolio (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Loans | $ 2,856,667,000 | $ 2,753,085,000 | |
Percent of portfolio | 100.00% | 100.00% | |
Period increase (decrease) | 3.80% | ||
Commercial Portfolio Segment [Member] | |||
Loans | $ 2,441,544,000 | $ 2,360,106,000 | |
Percent of portfolio | 85.50% | 85.70% | |
Period increase (decrease) | 3.50% | ||
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |||
Loans | $ 846,551,000 | $ 822,723,000 | |
Percent of portfolio | 29.60% | 29.90% | |
Period increase (decrease) | 2.90% | ||
Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | |||
Loans | $ 56,119,000 | $ 44,885,000 | |
Percent of portfolio | 2.00% | 1.60% | |
Period increase (decrease) | 25.00% | ||
Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | |||
Loans | $ 579,003,000 | $ 548,619,000 | |
Percent of portfolio | 20.30% | 19.90% | |
Period increase (decrease) | 5.50% | ||
Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | |||
Loans | $ 835,346,000 | $ 816,282,000 | |
Percent of portfolio | 29.20% | 29.70% | |
Period increase (decrease) | 2.30% | ||
Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | |||
Loans | $ 124,525,000 | $ 127,597,000 | |
Percent of portfolio | 4.40% | 4.60% | |
Period increase (decrease) | (2.40%) | ||
Retail Portfolio Segment [Member] | |||
Loans | $ 415,123,000 | $ 392,979,000 | |
Percent of portfolio | 14.50% | 14.30% | |
Period increase (decrease) | 5.60% | ||
Retail Portfolio Segment [Member] | Home Equity and Other [Member] | |||
Loans | $ 75,374,000 | $ 85,439,000 | |
Percent of portfolio | 2.60% | 3.10% | |
Period increase (decrease) | (11.80%) | ||
Retail Portfolio Segment [Member] | One to Four Family Mortgages [Member] | |||
Loans | $ 339,749,000 | $ 307,540,000 | |
Percent of portfolio | 11.90% | 11.20% | |
Period increase (decrease) | 10.50% | ||
Originated Loan [Member] | |||
Loans | $ 2,614,725,000 | $ 2,452,446,000 | $ 2,169,957,000 |
Percent of portfolio | 100.00% | 100.00% | |
Period increase (decrease) | 6.60% | ||
Originated Loan [Member] | Commercial Portfolio Segment [Member] | |||
Loans | $ 2,271,417,000 | $ 2,151,998,000 | 1,934,228,000 |
Percent of portfolio | 86.90% | 87.70% | |
Period increase (decrease) | 5.50% | ||
Originated Loan [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |||
Loans | $ 799,421,000 | $ 768,698,000 | |
Percent of portfolio | 30.60% | 31.30% | |
Period increase (decrease) | 4.00% | ||
Originated Loan [Member] | Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | |||
Loans | $ 52,097,000 | $ 39,950,000 | |
Percent of portfolio | 2.00% | 1.60% | |
Period increase (decrease) | 30.40% | ||
Originated Loan [Member] | Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | |||
Loans | $ 542,561,000 | $ 500,188,000 | |
Percent of portfolio | 20.80% | 20.40% | |
Period increase (decrease) | 8.50% | ||
Originated Loan [Member] | Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | |||
Loans | $ 776,994,000 | $ 745,127,000 | |
Percent of portfolio | 29.70% | 30.40% | |
Period increase (decrease) | 4.30% | ||
Originated Loan [Member] | Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | |||
Loans | $ 100,344,000 | $ 98,035,000 | |
Percent of portfolio | 3.80% | 4.00% | |
Period increase (decrease) | 2.40% | ||
Originated Loan [Member] | Retail Portfolio Segment [Member] | |||
Loans | $ 343,308,000 | $ 300,448,000 | $ 235,729,000 |
Percent of portfolio | 13.10% | 12.30% | |
Period increase (decrease) | 14.30% | ||
Originated Loan [Member] | Retail Portfolio Segment [Member] | Home Equity and Other [Member] | |||
Loans | $ 61,060,000 | $ 65,023,000 | |
Percent of portfolio | 2.30% | 2.70% | |
Period increase (decrease) | (6.10%) | ||
Originated Loan [Member] | Retail Portfolio Segment [Member] | One to Four Family Mortgages [Member] | |||
Loans | $ 282,248,000 | $ 235,425,000 | |
Percent of portfolio | 10.80% | 9.60% | |
Period increase (decrease) | 19.90% | ||
Acquired Loan [Member] | |||
Loans | $ 241,942,000 | $ 300,639,000 | |
Percent of portfolio | 100.00% | 100.00% | |
Period increase (decrease) | (19.50%) | ||
Acquired Loan [Member] | Commercial Portfolio Segment [Member] | |||
Loans | $ 170,127,000 | $ 208,108,000 | |
Percent of portfolio | 70.30% | 69.20% | |
Period increase (decrease) | (18.30%) | ||
Acquired Loan [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |||
Loans | $ 47,130,000 | $ 54,025,000 | |
Percent of portfolio | 19.40% | 18.00% | |
Period increase (decrease) | (12.80%) | ||
Acquired Loan [Member] | Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | |||
Loans | $ 4,022,000 | $ 4,935,000 | |
Percent of portfolio | 1.70% | 1.60% | |
Period increase (decrease) | (18.50%) | ||
Acquired Loan [Member] | Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | |||
Loans | $ 36,442,000 | $ 48,431,000 | |
Percent of portfolio | 15.10% | 16.10% | |
Period increase (decrease) | (24.80%) | ||
Acquired Loan [Member] | Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | |||
Loans | $ 58,352,000 | $ 71,155,000 | |
Percent of portfolio | 24.10% | 23.70% | |
Period increase (decrease) | (18.00%) | ||
Acquired Loan [Member] | Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | |||
Loans | $ 24,181,000 | $ 29,562,000 | |
Percent of portfolio | 10.00% | 9.80% | |
Period increase (decrease) | (18.20%) | ||
Acquired Loan [Member] | Retail Portfolio Segment [Member] | |||
Loans | $ 71,815,000 | $ 92,531,000 | |
Percent of portfolio | 29.70% | 30.80% | |
Period increase (decrease) | (22.40%) | ||
Acquired Loan [Member] | Retail Portfolio Segment [Member] | Home Equity and Other [Member] | |||
Loans | $ 14,314,000 | $ 20,416,000 | |
Percent of portfolio | 5.90% | 6.80% | |
Period increase (decrease) | (29.90%) | ||
Acquired Loan [Member] | Retail Portfolio Segment [Member] | One to Four Family Mortgages [Member] | |||
Loans | $ 57,501,000 | $ 72,115,000 | |
Percent of portfolio | 23.80% | 24.00% | |
Period increase (decrease) | (20.30%) |
Note 4 - Loans and Allowance _5
Note 4 - Loans and Allowance for Loan Losses - Acquired Impaired Loans Accretable Yield (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | ||
Balance at beginning of period | $ 1,274,000 | $ 1,404,000 | |
Additions | 9,000 | 0 | |
Accretion income | (407,000) | (490,000) | |
Net reclassification from nonaccretable to accretable | 488,000 | 437,000 | |
Reductions (1) | [1] | (88,000) | (77,000) |
Balance at end of period | $ 1,276,000 | $ 1,274,000 | |
[1] | Reductions primarily reflect the result of exit events, including loan payoffs and charge-offs. |
Note 4 - Loans and Allowance _6
Note 4 - Loans and Allowance for Loan Losses - Concentrations Within the Loan Portfolio (Details) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Loans | $ 2,856,667,000 | $ 2,753,085,000 |
Percent of portfolio | 100.00% | 100.00% |
Commercial Real Estate Loans to Lessors of Non Residential Buildings [Member] | ||
Loans | $ 580,708,000 | $ 568,134,000 |
Percent of portfolio | 20.30% | 20.60% |
Note 4 - Loans and Allowance _7
Note 4 - Loans and Allowance for Loan Losses - Nonperforming Loans (Details) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Originated 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] | 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 Residential Rental Loan [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] | 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 |
Acquired 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] | 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 Residential Rental Loan [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 | 0 |
Acquired Loan [Member] | Retail Portfolio Segment [Member] | Home Equity and Other [Member] | ||
Loans past due 90 days or more still accruing interest | 0 | 0 |
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 |
Nonperforming Financial Instruments [Member] | ||
Total nonperforming loans | 2,284,000 | 4,141,000 |
Nonperforming Financial Instruments [Member] | Commercial Portfolio Segment [Member] | ||
Total nonperforming loans | 136,000 | 1,108,000 |
Nonperforming Financial Instruments [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Total nonperforming loans | 0 | 17,000 |
Nonperforming Financial Instruments [Member] | Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | ||
Total nonperforming loans | 0 | 0 |
Nonperforming Financial Instruments [Member] | Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | ||
Total nonperforming loans | 134,000 | 950,000 |
Nonperforming Financial Instruments [Member] | Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | ||
Total nonperforming loans | 0 | 0 |
Nonperforming Financial Instruments [Member] | Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | ||
Total nonperforming loans | 2,000 | 141,000 |
Nonperforming Financial Instruments [Member] | Retail Portfolio Segment [Member] | ||
Total nonperforming loans | 2,148,000 | 3,033,000 |
Nonperforming Financial Instruments [Member] | Retail Portfolio Segment [Member] | Home Equity and Other [Member] | ||
Total nonperforming loans | 255,000 | 454,000 |
Nonperforming Financial Instruments [Member] | Retail Portfolio Segment [Member] | One to Four Family Mortgages [Member] | ||
Total nonperforming loans | 1,893,000 | 2,579,000 |
Nonperforming Financial Instruments [Member] | Originated Loan [Member] | ||
Loans past due 90 days or more still accruing interest | 0 | 0 |
Nonaccrual loans | 677,000 | 803,000 |
Total nonperforming loans | 677,000 | 803,000 |
Nonperforming Financial Instruments [Member] | Acquired Loan [Member] | ||
Loans past due 90 days or more still accruing interest | 0 | 0 |
Nonaccrual loans | 1,607,000 | 3,338,000 |
Total nonperforming loans | $ 1,607,000 | $ 3,338,000 |
Note 4 - Loans and Allowance _8
Note 4 - Loans and Allowance for Loan Losses - Age Analysis of Past Due Loans (Details) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Loans | $ 2,856,667,000 | $ 2,753,085,000 | |
Originated Loan [Member] | |||
Past due loans | 482,000 | 658,000 | |
Current loans | 2,614,243,000 | 2,451,788,000 | |
Loans | 2,614,725,000 | 2,452,446,000 | $ 2,169,957,000 |
Loans past due 90 days or more still accruing interest | 0 | 0 | |
Acquired Loan [Member] | |||
Past due loans | 1,402,000 | 3,125,000 | |
Current loans | 240,540,000 | 297,514,000 | |
Loans | 241,942,000 | 300,639,000 | |
Loans past due 90 days or more still accruing interest | 0 | 0 | |
Commercial Portfolio Segment [Member] | |||
Loans | 2,441,544,000 | 2,360,106,000 | |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |||
Loans | 846,551,000 | 822,723,000 | |
Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | |||
Loans | 56,119,000 | 44,885,000 | |
Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | |||
Loans | 579,003,000 | 548,619,000 | |
Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | |||
Loans | 835,346,000 | 816,282,000 | |
Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | |||
Loans | 124,525,000 | 127,597,000 | |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | |||
Past due loans | 134,000 | 186,000 | |
Current loans | 2,271,283,000 | 2,151,812,000 | |
Loans | 2,271,417,000 | 2,151,998,000 | 1,934,228,000 |
Loans past due 90 days or more still accruing interest | 0 | 0 | |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Commercial and Industrial [Member] | |||
Past due loans | 0 | 186,000 | |
Current loans | 799,421,000 | 768,512,000 | |
Loans | 799,421,000 | 768,698,000 | |
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 loans | 52,097,000 | 39,950,000 | |
Loans | 52,097,000 | 39,950,000 | |
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 | 134,000 | 0 | |
Current loans | 542,427,000 | 500,188,000 | |
Loans | 542,561,000 | 500,188,000 | |
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 loans | 776,994,000 | 745,127,000 | |
Loans | 776,994,000 | 745,127,000 | |
Loans past due 90 days or more still accruing interest | 0 | 0 | |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | |||
Past due loans | 0 | 0 | |
Current loans | 100,344,000 | 98,035,000 | |
Loans | 100,344,000 | 98,035,000 | |
Loans past due 90 days or more still accruing interest | 0 | 0 | |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | |||
Past due loans | 191,000 | 1,147,000 | |
Current loans | 169,936,000 | 206,961,000 | |
Loans | 170,127,000 | 208,108,000 | |
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 | 0 | 8,000 | |
Current loans | 47,130,000 | 54,017,000 | |
Loans | 47,130,000 | 54,025,000 | |
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 | 191,000 | 19,000 | |
Current loans | 3,831,000 | 4,916,000 | |
Loans | 4,022,000 | 4,935,000 | |
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 | 0 | 1,058,000 | |
Current loans | 36,442,000 | 47,373,000 | |
Loans | 36,442,000 | 48,431,000 | |
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 | 0 | 62,000 | |
Current loans | 58,352,000 | 71,093,000 | |
Loans | 58,352,000 | 71,155,000 | |
Loans past due 90 days or more still accruing interest | 0 | 0 | |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | |||
Past due loans | 0 | 0 | |
Current loans | 24,181,000 | 29,562,000 | |
Loans | 24,181,000 | 29,562,000 | |
Loans past due 90 days or more still accruing interest | 0 | 0 | |
Retail Portfolio Segment [Member] | |||
Loans | 415,123,000 | 392,979,000 | |
Retail Portfolio Segment [Member] | Home Equity and Other [Member] | |||
Loans | 75,374,000 | 85,439,000 | |
Retail Portfolio Segment [Member] | One to Four Family Mortgages [Member] | |||
Loans | 339,749,000 | 307,540,000 | |
Retail Portfolio Segment [Member] | Originated Loan [Member] | |||
Past due loans | 348,000 | 472,000 | |
Current loans | 342,960,000 | 299,976,000 | |
Loans | 343,308,000 | 300,448,000 | $ 235,729,000 |
Loans past due 90 days or more still accruing interest | 0 | 0 | |
Retail Portfolio Segment [Member] | Originated Loan [Member] | Home Equity and Other [Member] | |||
Past due loans | 157,000 | 44,000 | |
Current loans | 60,903,000 | 64,979,000 | |
Loans | 61,060,000 | 65,023,000 | |
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 | 191,000 | 428,000 | |
Current loans | 282,057,000 | 234,997,000 | |
Loans | 282,248,000 | 235,425,000 | |
Loans past due 90 days or more still accruing interest | 0 | 0 | |
Retail Portfolio Segment [Member] | Acquired Loan [Member] | |||
Past due loans | 1,211,000 | 1,978,000 | |
Current loans | 70,604,000 | 90,553,000 | |
Loans | 71,815,000 | 92,531,000 | |
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 | 99,000 | 198,000 | |
Current loans | 14,215,000 | 20,218,000 | |
Loans | 14,314,000 | 20,416,000 | |
Loans past due 90 days or more still accruing interest | 0 | 0 | |
Retail Portfolio Segment [Member] | Acquired Loan [Member] | One to Four Family Mortgages [Member] | |||
Past due loans | 1,112,000 | 1,780,000 | |
Current loans | 56,389,000 | 70,335,000 | |
Loans | 57,501,000 | 72,115,000 | |
Loans past due 90 days or more still accruing interest | 0 | 0 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Originated Loan [Member] | |||
Past due loans | 168,000 | 521,000 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Acquired Loan [Member] | |||
Past due loans | 939,000 | 1,185,000 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Originated Loan [Member] | |||
Past due loans | 0 | 186,000 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Originated Loan [Member] | Commercial and Industrial [Member] | |||
Past due loans | 0 | 186,000 | |
Financial Asset, 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 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Originated Loan [Member] | Real Estate Owner Occupied Loan [Member] | |||
Past due loans | 0 | 0 | |
Financial Asset, 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 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Originated Loan [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | |||
Past due loans | 0 | 0 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Acquired Loan [Member] | |||
Past due loans | 191,000 | 197,000 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Commercial and Industrial [Member] | |||
Past due loans | 0 | 8,000 | |
Financial Asset, 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 | 191,000 | 19,000 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Real Estate Owner Occupied Loan [Member] | |||
Past due loans | 0 | 108,000 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Real Estate Non Owner Occupied Loan [Member] | |||
Past due loans | 0 | 62,000 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | |||
Past due loans | 0 | 0 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Retail Portfolio Segment [Member] | Originated Loan [Member] | |||
Past due loans | 168,000 | 335,000 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Retail Portfolio Segment [Member] | Originated Loan [Member] | Home Equity and Other [Member] | |||
Past due loans | 107,000 | 44,000 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Retail Portfolio Segment [Member] | Originated Loan [Member] | One to Four Family Mortgages [Member] | |||
Past due loans | 61,000 | 291,000 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Retail Portfolio Segment [Member] | Acquired Loan [Member] | |||
Past due loans | 748,000 | 988,000 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Retail Portfolio Segment [Member] | Acquired Loan [Member] | Home Equity and Other [Member] | |||
Past due loans | 64,000 | 167,000 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Retail Portfolio Segment [Member] | Acquired Loan [Member] | One to Four Family Mortgages [Member] | |||
Past due loans | 684,000 | 821,000 | |
Financial Asset, 60 to 89 Days Past Due [Member] | Originated Loan [Member] | |||
Past due loans | 50,000 | 0 | |
Financial Asset, 60 to 89 Days Past Due [Member] | Acquired Loan [Member] | |||
Past due loans | 44,000 | 1,328,000 | |
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Originated Loan [Member] | |||
Past due loans | 0 | 0 | |
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Originated Loan [Member] | Commercial and Industrial [Member] | |||
Past due loans | 0 | 0 | |
Financial Asset, 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 | |
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Originated Loan [Member] | Real Estate Owner Occupied Loan [Member] | |||
Past due loans | 0 | 0 | |
Financial Asset, 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 | |
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Originated Loan [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | |||
Past due loans | 0 | 0 | |
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Acquired Loan [Member] | |||
Past due loans | 0 | 950,000 | |
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Commercial and Industrial [Member] | |||
Past due loans | 0 | 0 | |
Financial Asset, 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 | |
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Real Estate Owner Occupied Loan [Member] | |||
Past due loans | 0 | 950,000 | |
Financial Asset, 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 | 0 | |
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | |||
Past due loans | 0 | 0 | |
Financial Asset, 60 to 89 Days Past Due [Member] | Retail Portfolio Segment [Member] | Originated Loan [Member] | |||
Past due loans | 50,000 | 0 | |
Financial Asset, 60 to 89 Days Past Due [Member] | Retail Portfolio Segment [Member] | Originated Loan [Member] | Home Equity and Other [Member] | |||
Past due loans | 50,000 | 0 | |
Financial Asset, 60 to 89 Days Past Due [Member] | Retail Portfolio Segment [Member] | Originated Loan [Member] | One to Four Family Mortgages [Member] | |||
Past due loans | 0 | 0 | |
Financial Asset, 60 to 89 Days Past Due [Member] | Retail Portfolio Segment [Member] | Acquired Loan [Member] | |||
Past due loans | 44,000 | 378,000 | |
Financial Asset, 60 to 89 Days Past Due [Member] | Retail Portfolio Segment [Member] | Acquired Loan [Member] | Home Equity and Other [Member] | |||
Past due loans | 15,000 | 31,000 | |
Financial Asset, 60 to 89 Days Past Due [Member] | Retail Portfolio Segment [Member] | Acquired Loan [Member] | One to Four Family Mortgages [Member] | |||
Past due loans | 29,000 | 347,000 | |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Originated Loan [Member] | |||
Past due loans | 264,000 | 137,000 | |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Acquired Loan [Member] | |||
Past due loans | 419,000 | 612,000 | |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Originated Loan [Member] | |||
Past due loans | 134,000 | 0 | |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Originated Loan [Member] | Commercial and Industrial [Member] | |||
Past due loans | 0 | 0 | |
Financial Asset, Equal to or 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 | |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Originated Loan [Member] | Real Estate Owner Occupied Loan [Member] | |||
Past due loans | 134,000 | 0 | |
Financial Asset, Equal to or 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 | |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Originated Loan [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | |||
Past due loans | 0 | 0 | |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Acquired Loan [Member] | |||
Past due loans | 0 | 0 | |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Commercial and Industrial [Member] | |||
Past due loans | 0 | 0 | |
Financial Asset, Equal to or 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 | |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Real Estate Owner Occupied Loan [Member] | |||
Past due loans | 0 | 0 | |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Real Estate Non Owner Occupied Loan [Member] | |||
Past due loans | 0 | 0 | |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | |||
Past due loans | 0 | 0 | |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Retail Portfolio Segment [Member] | Originated Loan [Member] | |||
Past due loans | 130,000 | 137,000 | |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Retail Portfolio Segment [Member] | Originated Loan [Member] | Home Equity and Other [Member] | |||
Past due loans | 0 | 0 | |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Retail Portfolio Segment [Member] | Originated Loan [Member] | One to Four Family Mortgages [Member] | |||
Past due loans | 130,000 | 137,000 | |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Retail Portfolio Segment [Member] | Acquired Loan [Member] | |||
Past due loans | 419,000 | 612,000 | |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Retail Portfolio Segment [Member] | Acquired Loan [Member] | Home Equity and Other [Member] | |||
Past due loans | 20,000 | 0 | |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Retail Portfolio Segment [Member] | Acquired Loan [Member] | One to Four Family Mortgages [Member] | |||
Past due loans | $ 399,000 | $ 612,000 |
Note 4 - Loans and Allowance _9
Note 4 - Loans and Allowance for Loan Losses - Impaired Loans (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Originated Loan [Member] | ||
With no related allowance recorded, unpaid principal balance | $ 10,391,000 | $ 10,990,000 |
With no related allowance recorded, principal balance | 9,723,000 | 10,306,000 |
With no related allowance recorded, average recorded principal balance | 13,333,000 | 4,598,000 |
With related allowance recorded, unpaid principal balance | 1,657,000 | 8,660,000 |
With related allowance recorded, principal balance | 1,642,000 | 8,576,000 |
Related allowance | 1,397,000 | 688,000 |
With related allowance recorded, average recorded principal balance | 7,843,000 | 6,538,000 |
Total unpaid principal balance | 12,048,000 | 19,650,000 |
Total principal balance | 11,365,000 | 18,882,000 |
Total average recorded principal balance | 21,176,000 | 11,136,000 |
Originated Loan [Member] | Commercial Portfolio Segment [Member] | ||
With no related allowance recorded, unpaid principal balance | 8,566,000 | 9,330,000 |
With no related allowance recorded, principal balance | 8,518,000 | 9,330,000 |
With no related allowance recorded, average recorded principal balance | 12,266,000 | 3,493,000 |
With related allowance recorded, unpaid principal balance | 1,310,000 | 7,809,000 |
With related allowance recorded, principal balance | 1,310,000 | 7,804,000 |
Related allowance | 1,150,000 | 451,000 |
With related allowance recorded, average recorded principal balance | 7,193,000 | 5,639,000 |
Total unpaid principal balance | 9,876,000 | 17,139,000 |
Total principal balance | 9,828,000 | 17,134,000 |
Total average recorded principal balance | 19,459,000 | 9,132,000 |
Originated Loan [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
With no related allowance recorded, unpaid principal balance | 7,826,000 | 8,604,000 |
With no related allowance recorded, principal balance | 7,826,000 | 8,604,000 |
With no related allowance recorded, average recorded principal balance | 11,259,000 | 2,096,000 |
With related allowance recorded, unpaid principal balance | 332,000 | 5,011,000 |
With related allowance recorded, principal balance | 332,000 | 5,011,000 |
Related allowance | 172,000 | 83,000 |
With related allowance recorded, average recorded principal balance | 5,567,000 | 3,455,000 |
Originated Loan [Member] | Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | ||
With no related allowance recorded, unpaid principal balance | 85,000 | 94,000 |
With no related allowance recorded, principal balance | 85,000 | 94,000 |
With no related allowance recorded, average recorded principal balance | 89,000 | 65,000 |
With related allowance recorded, unpaid principal balance | 0 | 0 |
With related allowance recorded, principal balance | 0 | 0 |
Related allowance | 0 | 0 |
With related allowance recorded, average recorded principal balance | 0 | 0 |
Originated Loan [Member] | Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | ||
With no related allowance recorded, unpaid principal balance | 655,000 | 632,000 |
With no related allowance recorded, principal balance | 607,000 | 632,000 |
With no related allowance recorded, average recorded principal balance | 893,000 | 1,145,000 |
With related allowance recorded, unpaid principal balance | 978,000 | 2,658,000 |
With related allowance recorded, principal balance | 978,000 | 2,658,000 |
Related allowance | 978,000 | 363,000 |
With related allowance recorded, average recorded principal balance | 1,573,000 | 2,072,000 |
Originated Loan [Member] | Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | ||
With no related allowance recorded, unpaid principal balance | 0 | 0 |
With no related allowance recorded, principal balance | 0 | 0 |
With no related allowance recorded, average recorded principal balance | 0 | 0 |
With related allowance recorded, unpaid principal balance | 0 | 0 |
With related allowance recorded, principal balance | 0 | 0 |
Related allowance | 0 | 0 |
With related allowance recorded, average recorded principal balance | 0 | 0 |
Originated Loan [Member] | Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | ||
With no related allowance recorded, unpaid principal balance | 0 | 0 |
With no related allowance recorded, principal balance | 0 | 0 |
With no related allowance recorded, average recorded principal balance | 25,000 | 187,000 |
With related allowance recorded, unpaid principal balance | 0 | 140,000 |
With related allowance recorded, principal balance | 0 | 135,000 |
Related allowance | 0 | 5,000 |
With related allowance recorded, average recorded principal balance | 53,000 | 112,000 |
Originated Loan [Member] | Retail Portfolio Segment [Member] | ||
With no related allowance recorded, unpaid principal balance | 1,825,000 | 1,660,000 |
With no related allowance recorded, principal balance | 1,205,000 | 976,000 |
With no related allowance recorded, average recorded principal balance | 1,067,000 | 1,105,000 |
With related allowance recorded, unpaid principal balance | 347,000 | 851,000 |
With related allowance recorded, principal balance | 332,000 | 772,000 |
Related allowance | 247,000 | 237,000 |
With related allowance recorded, average recorded principal balance | 650,000 | 899,000 |
Total unpaid principal balance | 2,172,000 | 2,511,000 |
Total principal balance | 1,537,000 | 1,748,000 |
Total average recorded principal balance | 1,717,000 | 2,004,000 |
Originated Loan [Member] | Retail Portfolio Segment [Member] | Home Equity and Other [Member] | ||
With no related allowance recorded, unpaid principal balance | 708,000 | 607,000 |
With no related allowance recorded, principal balance | 691,000 | 586,000 |
With no related allowance recorded, average recorded principal balance | 682,000 | 691,000 |
With related allowance recorded, unpaid principal balance | 347,000 | 442,000 |
With related allowance recorded, principal balance | 332,000 | 431,000 |
Related allowance | 247,000 | 193,000 |
With related allowance recorded, average recorded principal balance | 383,000 | 600,000 |
Originated Loan [Member] | Retail Portfolio Segment [Member] | One to Four Family Mortgages [Member] | ||
With no related allowance recorded, unpaid principal balance | 1,117,000 | 1,053,000 |
With no related allowance recorded, principal balance | 514,000 | 390,000 |
With no related allowance recorded, average recorded principal balance | 385,000 | 414,000 |
With related allowance recorded, unpaid principal balance | 0 | 409,000 |
With related allowance recorded, principal balance | 0 | 341,000 |
Related allowance | 0 | 44,000 |
With related allowance recorded, average recorded principal balance | 267,000 | 299,000 |
Acquired Loan [Member] | ||
With no related allowance recorded, unpaid principal balance | 3,296,000 | 4,518,000 |
With no related allowance recorded, principal balance | 2,522,000 | 3,827,000 |
With no related allowance recorded, average recorded principal balance | 3,342,000 | 4,340,000 |
With related allowance recorded, unpaid principal balance | 741,000 | 1,415,000 |
With related allowance recorded, principal balance | 735,000 | 1,337,000 |
Related allowance | 226,000 | 310,000 |
With related allowance recorded, average recorded principal balance | 990,000 | 594,000 |
Total unpaid principal balance | 4,037,000 | 5,933,000 |
Total principal balance | 3,257,000 | 5,164,000 |
Total average recorded principal balance | 4,332,000 | 4,934,000 |
Acquired Loan [Member] | Commercial Portfolio Segment [Member] | ||
With no related allowance recorded, unpaid principal balance | 570,000 | 1,636,000 |
With no related allowance recorded, principal balance | 550,000 | 1,617,000 |
With no related allowance recorded, average recorded principal balance | 1,128,000 | 1,694,000 |
With related allowance recorded, unpaid principal balance | 228,000 | 535,000 |
With related allowance recorded, principal balance | 226,000 | 526,000 |
Related allowance | 34,000 | 43,000 |
With related allowance recorded, average recorded principal balance | 322,000 | 425,000 |
Total unpaid principal balance | 798,000 | 2,171,000 |
Total principal balance | 776,000 | 2,143,000 |
Total average recorded principal balance | 1,450,000 | 2,119,000 |
Acquired Loan [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
With no related allowance recorded, unpaid principal balance | 303,000 | 398,000 |
With no related allowance recorded, principal balance | 303,000 | 398,000 |
With no related allowance recorded, average recorded principal balance | 351,000 | 690,000 |
With related allowance recorded, unpaid principal balance | 128,000 | 175,000 |
With related allowance recorded, principal balance | 126,000 | 166,000 |
Related allowance | 30,000 | 43,000 |
With related allowance recorded, average recorded principal balance | 142,000 | 33,000 |
Acquired Loan [Member] | Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | ||
With no related allowance recorded, unpaid principal balance | 0 | 0 |
With no related allowance recorded, principal balance | 0 | 0 |
With no related allowance recorded, average recorded principal balance | 0 | 0 |
With related allowance recorded, unpaid principal balance | 0 | 0 |
With related allowance recorded, principal balance | 0 | 0 |
Related allowance | 0 | 0 |
With related allowance recorded, average recorded principal balance | 0 | 0 |
Acquired Loan [Member] | Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | ||
With no related allowance recorded, unpaid principal balance | 60,000 | 1,193,000 |
With no related allowance recorded, principal balance | 60,000 | 1,193,000 |
With no related allowance recorded, average recorded principal balance | 627,000 | 749,000 |
With related allowance recorded, unpaid principal balance | 100,000 | 147,000 |
With related allowance recorded, principal balance | 100,000 | 147,000 |
Related allowance | 4,000 | 0 |
With related allowance recorded, average recorded principal balance | 99,000 | 349,000 |
Acquired Loan [Member] | Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | ||
With no related allowance recorded, unpaid principal balance | 178,000 | 0 |
With no related allowance recorded, principal balance | 178,000 | 0 |
With no related allowance recorded, average recorded principal balance | 131,000 | 182,000 |
With related allowance recorded, unpaid principal balance | 0 | 210,000 |
With related allowance recorded, principal balance | 0 | 210,000 |
Related allowance | 0 | 0 |
With related allowance recorded, average recorded principal balance | 80,000 | 42,000 |
Acquired Loan [Member] | Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | ||
With no related allowance recorded, unpaid principal balance | 29,000 | 45,000 |
With no related allowance recorded, principal balance | 9,000 | 26,000 |
With no related allowance recorded, average recorded principal balance | 19,000 | 73,000 |
With related allowance recorded, unpaid principal balance | 0 | 3,000 |
With related allowance recorded, principal balance | 0 | 3,000 |
Related allowance | 0 | 0 |
With related allowance recorded, average recorded principal balance | 1,000 | 1,000 |
Acquired Loan [Member] | Retail Portfolio Segment [Member] | ||
With no related allowance recorded, unpaid principal balance | 2,726,000 | 2,882,000 |
With no related allowance recorded, principal balance | 1,972,000 | 2,210,000 |
With no related allowance recorded, average recorded principal balance | 2,214,000 | 2,646,000 |
With related allowance recorded, unpaid principal balance | 513,000 | 880,000 |
With related allowance recorded, principal balance | 509,000 | 811,000 |
Related allowance | 192,000 | 267,000 |
With related allowance recorded, average recorded principal balance | 668,000 | 169,000 |
Total unpaid principal balance | 3,239,000 | 3,762,000 |
Total principal balance | 2,481,000 | 3,021,000 |
Total average recorded principal balance | 2,882,000 | 2,815,000 |
Acquired Loan [Member] | Retail Portfolio Segment [Member] | Home Equity and Other [Member] | ||
With no related allowance recorded, unpaid principal balance | 571,000 | 388,000 |
With no related allowance recorded, principal balance | 518,000 | 361,000 |
With no related allowance recorded, average recorded principal balance | 521,000 | 615,000 |
With related allowance recorded, unpaid principal balance | 155,000 | 462,000 |
With related allowance recorded, principal balance | 153,000 | 440,000 |
Related allowance | 109,000 | 178,000 |
With related allowance recorded, average recorded principal balance | 275,000 | 95,000 |
Acquired Loan [Member] | Retail Portfolio Segment [Member] | One to Four Family Mortgages [Member] | ||
With no related allowance recorded, unpaid principal balance | 2,155,000 | 2,494,000 |
With no related allowance recorded, principal balance | 1,454,000 | 1,849,000 |
With no related allowance recorded, average recorded principal balance | 1,693,000 | 2,031,000 |
With related allowance recorded, unpaid principal balance | 358,000 | 418,000 |
With related allowance recorded, principal balance | 356,000 | 371,000 |
Related allowance | 83,000 | 89,000 |
With related allowance recorded, average recorded principal balance | $ 393,000 | $ 74,000 |
Note 4 - Loans and Allowance_10
Note 4 - Loans and Allowance for Loan Losses - Loans by Credit Quality Indicators (Details) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Loans | $ 2,856,667,000 | $ 2,753,085,000 | |
Originated Loan [Member] | |||
Loans | 2,614,725,000 | 2,452,446,000 | $ 2,169,957,000 |
Acquired Loan [Member] | |||
Loans | 241,942,000 | 300,639,000 | |
Commercial Portfolio Segment [Member] | |||
Loans | 2,441,544,000 | 2,360,106,000 | |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | |||
Loans | 2,271,417,000 | 2,151,998,000 | $ 1,934,228,000 |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | |||
Loans | 170,127,000 | 208,108,000 | |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |||
Loans | 846,551,000 | 822,723,000 | |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Originated Loan [Member] | |||
Loans | 799,421,000 | 768,698,000 | |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Acquired Loan [Member] | |||
Loans | 47,130,000 | 54,025,000 | |
Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | |||
Loans | 56,119,000 | 44,885,000 | |
Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | Originated Loan [Member] | |||
Loans | 52,097,000 | 39,950,000 | |
Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | Acquired Loan [Member] | |||
Loans | 4,022,000 | 4,935,000 | |
Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | |||
Loans | 579,003,000 | 548,619,000 | |
Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | Originated Loan [Member] | |||
Loans | 542,561,000 | 500,188,000 | |
Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | Acquired Loan [Member] | |||
Loans | 36,442,000 | 48,431,000 | |
Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | |||
Loans | 835,346,000 | 816,282,000 | |
Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | Originated Loan [Member] | |||
Loans | 776,994,000 | 745,127,000 | |
Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | Acquired Loan [Member] | |||
Loans | 58,352,000 | 71,155,000 | |
Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | |||
Loans | 124,525,000 | 127,597,000 | |
Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | Originated Loan [Member] | |||
Loans | 100,344,000 | 98,035,000 | |
Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | Acquired Loan [Member] | |||
Loans | 24,181,000 | 29,562,000 | |
Grades 1-4 [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Originated Loan [Member] | |||
Loans | 491,385,000 | 508,611,000 | |
Grades 1-4 [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Acquired Loan [Member] | |||
Loans | 30,535,000 | 34,678,000 | |
Grades 1-4 [Member] | Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | Originated Loan [Member] | |||
Loans | 25,037,000 | 28,170,000 | |
Grades 1-4 [Member] | Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | Acquired Loan [Member] | |||
Loans | 1,028,000 | 1,246,000 | |
Grades 1-4 [Member] | Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | Originated Loan [Member] | |||
Loans | 333,051,000 | 325,459,000 | |
Grades 1-4 [Member] | Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | Acquired Loan [Member] | |||
Loans | 18,620,000 | 21,595,000 | |
Grades 1-4 [Member] | Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | Originated Loan [Member] | |||
Loans | 515,914,000 | 526,445,000 | |
Grades 1-4 [Member] | Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | Acquired Loan [Member] | |||
Loans | 47,173,000 | 54,401,000 | |
Grades 1-4 [Member] | Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | Originated Loan [Member] | |||
Loans | 69,474,000 | 75,051,000 | |
Grades 1-4 [Member] | Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | Acquired Loan [Member] | |||
Loans | 15,678,000 | 16,050,000 | |
Grades 5-7 [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Originated Loan [Member] | |||
Loans | 293,678,000 | 238,942,000 | |
Grades 5-7 [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Acquired Loan [Member] | |||
Loans | 16,146,000 | 19,122,000 | |
Grades 5-7 [Member] | Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | Originated Loan [Member] | |||
Loans | 26,975,000 | 11,686,000 | |
Grades 5-7 [Member] | Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | Acquired Loan [Member] | |||
Loans | 2,741,000 | 3,431,000 | |
Grades 5-7 [Member] | Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | Originated Loan [Member] | |||
Loans | 203,318,000 | 163,455,000 | |
Grades 5-7 [Member] | Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | Acquired Loan [Member] | |||
Loans | 17,662,000 | 25,485,000 | |
Grades 5-7 [Member] | Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | Originated Loan [Member] | |||
Loans | 261,080,000 | 218,682,000 | |
Grades 5-7 [Member] | Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | Acquired Loan [Member] | |||
Loans | 11,044,000 | 16,687,000 | |
Grades 5-7 [Member] | Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | Originated Loan [Member] | |||
Loans | 30,727,000 | 22,798,000 | |
Grades 5-7 [Member] | Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | Acquired Loan [Member] | |||
Loans | 8,476,000 | 13,460,000 | |
Grades 8-9 [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Originated Loan [Member] | |||
Loans | 14,358,000 | 21,145,000 | |
Grades 8-9 [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Acquired Loan [Member] | |||
Loans | 449,000 | 225,000 | |
Grades 8-9 [Member] | Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | Originated Loan [Member] | |||
Loans | 85,000 | 94,000 | |
Grades 8-9 [Member] | Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | Acquired Loan [Member] | |||
Loans | 253,000 | 258,000 | |
Grades 8-9 [Member] | Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | Originated Loan [Member] | |||
Loans | 6,192,000 | 11,274,000 | |
Grades 8-9 [Member] | Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | Acquired Loan [Member] | |||
Loans | 160,000 | 1,351,000 | |
Grades 8-9 [Member] | Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | Originated Loan [Member] | |||
Loans | 0 | 0 | |
Grades 8-9 [Member] | Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | Acquired Loan [Member] | |||
Loans | 135,000 | 67,000 | |
Grades 8-9 [Member] | Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | Originated Loan [Member] | |||
Loans | 143,000 | 186,000 | |
Grades 8-9 [Member] | Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | Acquired Loan [Member] | |||
Loans | $ 27,000 | $ 52,000 |
Note 4 - Loans and Allowance_11
Note 4 - Loans and Allowance for Loan Losses - Retail Credit Exposure (Details) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Loans | $ 2,856,667,000 | $ 2,753,085,000 | |
Retail Portfolio Segment [Member] | |||
Loans | 415,123,000 | 392,979,000 | |
Retail Portfolio Segment [Member] | Home Equity and Other [Member] | |||
Loans | 75,374,000 | 85,439,000 | |
Retail Portfolio Segment [Member] | One to Four Family Mortgages [Member] | |||
Loans | 339,749,000 | 307,540,000 | |
Originated Loan [Member] | |||
Loans | 2,614,725,000 | 2,452,446,000 | $ 2,169,957,000 |
Originated Loan [Member] | Retail Portfolio Segment [Member] | |||
Loans | 343,308,000 | 300,448,000 | $ 235,729,000 |
Originated Loan [Member] | Retail Portfolio Segment [Member] | Home Equity and Other [Member] | |||
Loans | 61,060,000 | 65,023,000 | |
Originated Loan [Member] | Retail Portfolio Segment [Member] | One to Four Family Mortgages [Member] | |||
Loans | 282,248,000 | 235,425,000 | |
Acquired Loan [Member] | |||
Loans | 241,942,000 | 300,639,000 | |
Acquired Loan [Member] | Retail Portfolio Segment [Member] | |||
Loans | 71,815,000 | 92,531,000 | |
Acquired Loan [Member] | Retail Portfolio Segment [Member] | Home Equity and Other [Member] | |||
Loans | 14,314,000 | 20,416,000 | |
Acquired Loan [Member] | Retail Portfolio Segment [Member] | One to Four Family Mortgages [Member] | |||
Loans | $ 57,501,000 | $ 72,115,000 |
Note 4 - Loans and Allowance_12
Note 4 - Loans and Allowance for Loan Losses - Activity in Allowance for Loan Losses and the Recorded Investments in Loans (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Provision for loan losses | $ 1,750,000 | $ 1,100,000 | $ 2,950,000 |
Ending balance | 2,856,667,000 | 2,753,085,000 | |
Originated Loan [Member] | |||
Beginning balance | 21,554,000 | 19,133,000 | 17,868,000 |
Provision for loan losses | 1,867,000 | 400,000 | 2,641,000 |
Charge-offs | (883,000) | (1,189,000) | (3,183,000) |
Recoveries | 628,000 | 3,210,000 | 1,807,000 |
Ending balance | 23,166,000 | 21,554,000 | 19,133,000 |
Ending balance: individually evaluated for impairment | 1,397,000 | 688,000 | 1,867,000 |
Ending balance: collectively evaluated for impairment | 21,769,000 | 20,866,000 | 17,266,000 |
Ending balance | 2,614,725,000 | 2,452,446,000 | 2,169,957,000 |
Ending balance: individually evaluated for impairment | 11,365,000 | 18,882,000 | 8,787,000 |
Ending balance: collectively evaluated for impairment | 2,603,360,000 | 2,433,564,000 | 2,161,170,000 |
Acquired Loan [Member] | |||
Beginning balance | 826,000 | 368,000 | 93,000 |
Provision for loan losses | (117,000) | 700,000 | 309,000 |
Charge-offs | 0 | (261,000) | (52,000) |
Recoveries | 14,000 | 19,000 | 18,000 |
Ending balance | 723,000 | 826,000 | 368,000 |
Ending balance | 241,942,000 | 300,639,000 | |
Commercial Portfolio Segment [Member] | |||
Ending balance | 2,441,544,000 | 2,360,106,000 | |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | |||
Beginning balance | 19,442,000 | 16,456,000 | 16,026,000 |
Provision for loan losses | 1,521,000 | 826,000 | 1,148,000 |
Charge-offs | (455,000) | (428,000) | (2,292,000) |
Recoveries | 326,000 | 2,588,000 | 1,574,000 |
Ending balance | 20,834,000 | 19,442,000 | 16,456,000 |
Ending balance: individually evaluated for impairment | 1,150,000 | 451,000 | 1,202,000 |
Ending balance: collectively evaluated for impairment | 19,684,000 | 18,991,000 | 15,254,000 |
Ending balance | 2,271,417,000 | 2,151,998,000 | 1,934,228,000 |
Ending balance: individually evaluated for impairment | 9,828,000 | 17,134,000 | 6,394,000 |
Ending balance: collectively evaluated for impairment | 2,261,589,000 | 2,134,864,000 | 1,927,834,000 |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | |||
Beginning balance | 177,000 | 291,000 | 75,000 |
Provision for loan losses | 57,000 | 132,000 | 210,000 |
Charge-offs | 0 | (246,000) | (12,000) |
Recoveries | 2,000 | 0 | 18,000 |
Ending balance | 236,000 | 177,000 | 291,000 |
Ending balance | 170,127,000 | 208,108,000 | |
Retail Portfolio Segment [Member] | |||
Ending balance | 415,123,000 | 392,979,000 | |
Retail Portfolio Segment [Member] | Originated Loan [Member] | |||
Beginning balance | 2,068,000 | 2,584,000 | 1,882,000 |
Provision for loan losses | 320,000 | (377,000) | 1,360,000 |
Charge-offs | (428,000) | (761,000) | (891,000) |
Recoveries | 302,000 | 622,000 | 233,000 |
Ending balance | 2,262,000 | 2,068,000 | 2,584,000 |
Ending balance: individually evaluated for impairment | 247,000 | 237,000 | 665,000 |
Ending balance: collectively evaluated for impairment | 2,015,000 | 1,831,000 | 1,919,000 |
Ending balance | 343,308,000 | 300,448,000 | 235,729,000 |
Ending balance: individually evaluated for impairment | 1,537,000 | 1,748,000 | 2,393,000 |
Ending balance: collectively evaluated for impairment | 341,771,000 | 298,700,000 | 233,336,000 |
Retail Portfolio Segment [Member] | Acquired Loan [Member] | |||
Beginning balance | 649,000 | 77,000 | 18,000 |
Provision for loan losses | (174,000) | 568,000 | 99,000 |
Charge-offs | 0 | (15,000) | (40,000) |
Recoveries | 12,000 | 19,000 | 0 |
Ending balance | 487,000 | 649,000 | 77,000 |
Ending balance | 71,815,000 | 92,531,000 | |
Unallocated Financing Receivables [Member] | Originated Loan [Member] | |||
Beginning balance | 44,000 | 93,000 | (40,000) |
Provision for loan losses | 26,000 | (49,000) | 133,000 |
Charge-offs | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 |
Ending balance | 70,000 | 44,000 | 93,000 |
Ending balance: individually evaluated for impairment | 0 | 0 | 0 |
Ending balance: collectively evaluated for impairment | 70,000 | 44,000 | 93,000 |
Unallocated Financing Receivables [Member] | Acquired Loan [Member] | |||
Beginning balance | 0 | 0 | 0 |
Provision for loan losses | 0 | 0 | 0 |
Charge-offs | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 |
Ending balance | $ 0 | $ 0 | $ 0 |
Note 4 - Loans and Allowance_13
Note 4 - Loans and Allowance for Loan Losses - Loans Modified as Troubled Debt Restructurings (Details) | 12 Months Ended | |
Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | |
Originated Loan [Member] | ||
Number of Contracts | 11 | 12 |
Pre- Modification Recorded Principal Balance | $ 2,140,000 | $ 14,644,000 |
Post- Modification Recorded Principal Balance | $ 2,140,000 | $ 14,610,000 |
Acquired Loan [Member] | ||
Number of Contracts | 25 | 21 |
Pre- Modification Recorded Principal Balance | $ 656,000 | $ 655,000 |
Post- Modification Recorded Principal Balance | $ 657,000 | $ 656,000 |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | ||
Number of Contracts | 7 | 10 |
Pre- Modification Recorded Principal Balance | $ 2,089,000 | $ 14,581,000 |
Post- Modification Recorded Principal Balance | $ 2,089,000 | $ 14,547,000 |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Commercial and Industrial [Member] | ||
Number of Contracts | 5 | 9 |
Pre- Modification Recorded Principal Balance | $ 435,000 | $ 12,297,000 |
Post- Modification Recorded Principal Balance | $ 435,000 | $ 12,263,000 |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | ||
Number of Contracts | 1 | 0 |
Pre- Modification Recorded Principal Balance | $ 87,000 | $ 0 |
Post- Modification Recorded Principal Balance | $ 87,000 | $ 0 |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Real Estate Owner Occupied Loan [Member] | ||
Number of Contracts | 1 | 1 |
Pre- Modification Recorded Principal Balance | $ 1,567,000 | $ 2,284,000 |
Post- Modification Recorded Principal Balance | $ 1,567,000 | $ 2,284,000 |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Real Estate Non Owner Occupied Loan [Member] | ||
Number of Contracts | 0 | 0 |
Pre- Modification Recorded Principal Balance | $ 0 | $ 0 |
Post- Modification Recorded Principal Balance | $ 0 | $ 0 |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | ||
Number of Contracts | 0 | 0 |
Pre- Modification Recorded Principal Balance | $ 0 | $ 0 |
Post- Modification Recorded Principal Balance | $ 0 | $ 0 |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | ||
Number of Contracts | 1 | 1 |
Pre- Modification Recorded Principal Balance | $ 102,000 | $ 150,000 |
Post- Modification Recorded Principal Balance | $ 102,000 | $ 150,000 |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Commercial and Industrial [Member] | ||
Number of Contracts | 0 | 0 |
Pre- Modification Recorded Principal Balance | $ 0 | $ 0 |
Post- Modification Recorded Principal Balance | $ 0 | $ 0 |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | ||
Number of Contracts | 0 | 0 |
Pre- Modification Recorded Principal Balance | $ 0 | $ 0 |
Post- Modification Recorded Principal Balance | $ 0 | $ 0 |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Real Estate Owner Occupied Loan [Member] | ||
Number of Contracts | 1 | 1 |
Pre- Modification Recorded Principal Balance | $ 102,000 | $ 150,000 |
Post- Modification Recorded Principal Balance | $ 102,000 | $ 150,000 |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Real Estate Non Owner Occupied Loan [Member] | ||
Number of Contracts | 0 | 0 |
Pre- Modification Recorded Principal Balance | $ 0 | $ 0 |
Post- Modification Recorded Principal Balance | $ 0 | $ 0 |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | ||
Number of Contracts | 0 | 0 |
Pre- Modification Recorded Principal Balance | $ 0 | $ 0 |
Post- Modification Recorded Principal Balance | $ 0 | $ 0 |
Retail Portfolio Segment [Member] | Originated Loan [Member] | ||
Number of Contracts | 4 | 2 |
Pre- Modification Recorded Principal Balance | $ 51,000 | $ 63,000 |
Post- Modification Recorded Principal Balance | $ 51,000 | $ 63,000 |
Retail Portfolio Segment [Member] | Originated Loan [Member] | Home Equity and Other [Member] | ||
Number of Contracts | 4 | 2 |
Pre- Modification Recorded Principal Balance | $ 51,000 | $ 63,000 |
Post- Modification Recorded Principal Balance | $ 51,000 | $ 63,000 |
Retail Portfolio Segment [Member] | Originated Loan [Member] | One to Four Family Mortgages [Member] | ||
Number of Contracts | 0 | 0 |
Pre- Modification Recorded Principal Balance | $ 0 | $ 0 |
Post- Modification Recorded Principal Balance | $ 0 | $ 0 |
Retail Portfolio Segment [Member] | Acquired Loan [Member] | ||
Number of Contracts | 24 | 20 |
Pre- Modification Recorded Principal Balance | $ 554,000 | $ 505,000 |
Post- Modification Recorded Principal Balance | $ 555,000 | $ 506,000 |
Retail Portfolio Segment [Member] | Acquired Loan [Member] | Home Equity and Other [Member] | ||
Number of Contracts | 16 | 16 |
Pre- Modification Recorded Principal Balance | $ 244,000 | $ 414,000 |
Post- Modification Recorded Principal Balance | $ 245,000 | $ 416,000 |
Retail Portfolio Segment [Member] | Acquired Loan [Member] | One to Four Family Mortgages [Member] | ||
Number of Contracts | 8 | 4 |
Pre- Modification Recorded Principal Balance | $ 310,000 | $ 91,000 |
Post- Modification Recorded Principal Balance | $ 310,000 | $ 90,000 |
Note 4 - Loans and Allowance_14
Note 4 - 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) | 12 Months Ended | |
Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | |
Originated Loan [Member] | ||
Number of Contracts | 0 | 0 |
Recorded Principal Balance | $ 0 | $ 0 |
Originated Loan [Member] | Commercial Portfolio Segment [Member] | ||
Number of Contracts | 0 | 0 |
Recorded Principal Balance | $ 0 | $ 0 |
Originated Loan [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Number of Contracts | 0 | 0 |
Recorded Principal Balance | $ 0 | $ 0 |
Originated Loan [Member] | Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | ||
Number of Contracts | 0 | 0 |
Recorded Principal Balance | $ 0 | $ 0 |
Originated Loan [Member] | Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | ||
Number of Contracts | 0 | 0 |
Recorded Principal Balance | $ 0 | $ 0 |
Originated Loan [Member] | Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | ||
Number of Contracts | 0 | 0 |
Recorded Principal Balance | $ 0 | $ 0 |
Originated Loan [Member] | Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | ||
Number of Contracts | 0 | 0 |
Recorded Principal Balance | $ 0 | $ 0 |
Originated Loan [Member] | Retail Portfolio Segment [Member] | ||
Number of Contracts | 0 | 0 |
Recorded Principal Balance | $ 0 | $ 0 |
Originated Loan [Member] | Retail Portfolio Segment [Member] | Home Equity and Other [Member] | ||
Number of Contracts | 0 | 0 |
Recorded Principal Balance | $ 0 | $ 0 |
Originated Loan [Member] | Retail Portfolio Segment [Member] | One to Four Family Mortgages [Member] | ||
Number of Contracts | 0 | 0 |
Recorded Principal Balance | $ 0 | $ 0 |
Acquired Loan [Member] | ||
Number of Contracts | 3 | 0 |
Recorded Principal Balance | $ 126,000 | $ 0 |
Acquired Loan [Member] | Commercial Portfolio Segment [Member] | ||
Number of Contracts | 0 | 0 |
Recorded Principal Balance | $ 0 | $ 0 |
Acquired Loan [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Number of Contracts | 0 | 0 |
Recorded Principal Balance | $ 0 | $ 0 |
Acquired Loan [Member] | Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | ||
Number of Contracts | 0 | 0 |
Recorded Principal Balance | $ 0 | $ 0 |
Acquired Loan [Member] | Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | ||
Number of Contracts | 0 | 0 |
Recorded Principal Balance | $ 0 | $ 0 |
Acquired Loan [Member] | Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | ||
Number of Contracts | 0 | 0 |
Recorded Principal Balance | $ 0 | $ 0 |
Acquired Loan [Member] | Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | ||
Number of Contracts | 0 | 0 |
Recorded Principal Balance | $ 0 | $ 0 |
Acquired Loan [Member] | Retail Portfolio Segment [Member] | ||
Number of Contracts | 3 | 0 |
Recorded Principal Balance | $ 126,000 | $ 0 |
Acquired Loan [Member] | Retail Portfolio Segment [Member] | Home Equity and Other [Member] | ||
Number of Contracts | 1 | 0 |
Recorded Principal Balance | $ 20,000 | $ 0 |
Acquired Loan [Member] | Retail Portfolio Segment [Member] | One to Four Family Mortgages [Member] | ||
Number of Contracts | 2 | 0 |
Recorded Principal Balance | $ 106,000 | $ 0 |
Note 4 - Loans and Allowance_15
Note 4 - Loans and Allowance for Loan Losses - Activity for Troubled Debt Restructurings (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Commercial and Industrial [Member] | |||
Beginning Balance | $ 13,590,000 | $ 2,989,000 | $ 1,503,000 |
Charge-Offs | 0 | (230,000) | 0 |
Payments | (20,244,000) | (692,000) | (2,021,000) |
Transfers to ORE | 0 | 0 | 0 |
Net Additions/Deletions | 14,812,000 | 11,523,000 | 3,507,000 |
Ending Balance | 8,158,000 | 13,590,000 | 2,989,000 |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | |||
Beginning Balance | 0 | 383,000 | 1,488,000 |
Charge-Offs | 0 | 0 | 0 |
Payments | (2,000) | (383,000) | (1,105,000) |
Transfers to ORE | 0 | 0 | 0 |
Net Additions/Deletions | 87,000 | 0 | 0 |
Ending Balance | 85,000 | 0 | 383,000 |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Real Estate Owner Occupied Loan [Member] | |||
Beginning Balance | 2,682,000 | 1,599,000 | 906,000 |
Charge-Offs | 0 | 0 | 0 |
Payments | (2,947,000) | (4,999,000) | (242,000) |
Transfers to ORE | 0 | 0 | 0 |
Net Additions/Deletions | 1,250,000 | 6,082,000 | 935,000 |
Ending Balance | 985,000 | 2,682,000 | 1,599,000 |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Real Estate Non Owner Occupied Loan [Member] | |||
Beginning Balance | 0 | 0 | 5,110,000 |
Charge-Offs | 0 | 0 | 0 |
Payments | 0 | 0 | (232,000) |
Transfers to ORE | 0 | 0 | 0 |
Net Additions/Deletions | 0 | 0 | (4,878,000) |
Ending Balance | 0 | 0 | 0 |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | |||
Beginning Balance | 0 | 0 | 716,000 |
Charge-Offs | 0 | 0 | 0 |
Payments | 0 | 0 | (405,000) |
Transfers to ORE | 0 | 0 | 0 |
Net Additions/Deletions | 0 | 0 | (311,000) |
Ending Balance | 0 | 0 | 0 |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Commercial and Industrial [Member] | |||
Beginning Balance | 548,000 | 1,001,000 | 1,125,000 |
Charge-Offs | 0 | (275,000) | 0 |
Payments | (120,000) | (100,000) | (550,000) |
Transfers to ORE | 0 | 0 | 0 |
Net Additions/Deletions | 1,000 | (78,000) | 426,000 |
Ending Balance | 429,000 | 548,000 | 1,001,000 |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | |||
Beginning Balance | 0 | 0 | 0 |
Charge-Offs | 0 | 0 | 0 |
Payments | 0 | 0 | (33,000) |
Transfers to ORE | 0 | 0 | 0 |
Net Additions/Deletions | 0 | 0 | 33,000 |
Ending Balance | 0 | 0 | 0 |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Real Estate Owner Occupied Loan [Member] | |||
Beginning Balance | 418,000 | 427,000 | 900,000 |
Charge-Offs | 0 | 0 | (249,000) |
Payments | (873,000) | (1,664,000) | (257,000) |
Transfers to ORE | (97,000) | (93,000) | 0 |
Net Additions/Deletions | 712,000 | 1,748,000 | 33,000 |
Ending Balance | 160,000 | 418,000 | 427,000 |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Real Estate Non Owner Occupied Loan [Member] | |||
Beginning Balance | 210,000 | 237,000 | 728,000 |
Charge-Offs | 0 | 0 | 0 |
Payments | (32,000) | (27,000) | (922,000) |
Transfers to ORE | 0 | 0 | (291,000) |
Net Additions/Deletions | 0 | 0 | 722,000 |
Ending Balance | 178,000 | 210,000 | 237,000 |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | |||
Beginning Balance | 24,000 | 41,000 | 60,000 |
Charge-Offs | 0 | 0 | 0 |
Payments | (17,000) | (17,000) | (1,084,000) |
Transfers to ORE | 0 | 0 | 0 |
Net Additions/Deletions | 0 | 0 | 1,065,000 |
Ending Balance | 7,000 | 24,000 | 41,000 |
Retail Portfolio Segment [Member] | Originated Loan [Member] | Home Equity and Other [Member] | |||
Beginning Balance | 938,000 | 1,127,000 | 385,000 |
Charge-Offs | 0 | 0 | 0 |
Payments | (114,000) | (251,000) | (57,000) |
Transfers to ORE | 0 | 0 | 0 |
Net Additions/Deletions | 50,000 | 62,000 | 799,000 |
Ending Balance | 874,000 | 938,000 | 1,127,000 |
Retail Portfolio Segment [Member] | Originated Loan [Member] | One to Four Family Mortgages [Member] | |||
Beginning Balance | 142,000 | 146,000 | 157,000 |
Charge-Offs | 0 | 0 | 0 |
Payments | (110,000) | (4,000) | (11,000) |
Transfers to ORE | 0 | 0 | 0 |
Net Additions/Deletions | 0 | 0 | 0 |
Ending Balance | 32,000 | 142,000 | 146,000 |
Retail Portfolio Segment [Member] | Acquired Loan [Member] | Home Equity and Other [Member] | |||
Beginning Balance | 464,000 | 219,000 | 208,000 |
Charge-Offs | (18,000) | (30,000) | (25,000) |
Payments | (158,000) | (72,000) | (121,000) |
Transfers to ORE | 0 | (82,000) | 0 |
Net Additions/Deletions | 253,000 | 429,000 | 157,000 |
Ending Balance | 541,000 | 464,000 | 219,000 |
Retail Portfolio Segment [Member] | Acquired Loan [Member] | One to Four Family Mortgages [Member] | |||
Beginning Balance | 436,000 | 393,000 | 326,000 |
Charge-Offs | 0 | 0 | 0 |
Payments | (52,000) | (37,000) | (188,000) |
Transfers to ORE | 0 | 0 | 0 |
Net Additions/Deletions | 308,000 | 80,000 | 255,000 |
Ending Balance | $ 692,000 | $ 436,000 | $ 393,000 |
Note 4 - Loans and Allowance_16
Note 4 - Loans and Allowance for Loan Losses - Allowance Related to Troubled Debt Restructurings (Details) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Related allowance | $ 1,578,000 | $ 936,000 |
Commercial Portfolio Segment [Member] | ||
Related allowance | 1,184,000 | 489,000 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Related allowance | 202,000 | 126,000 |
Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | ||
Related allowance | 0 | 0 |
Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | ||
Related allowance | 982,000 | 363,000 |
Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | ||
Related allowance | 0 | 0 |
Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | ||
Related allowance | 0 | 0 |
Retail Portfolio Segment [Member] | ||
Related allowance | 394,000 | 447,000 |
Retail Portfolio Segment [Member] | Home Equity and Other [Member] | ||
Related allowance | 311,000 | 337,000 |
Retail Portfolio Segment [Member] | One to Four Family Mortgages [Member] | ||
Related allowance | $ 83,000 | $ 110,000 |
Note 5 - Premises and Equipme_3
Note 5 - Premises and Equipment, Net (Details Textual) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Operating Leases, Future Minimum Payments Due, Total | $ 3.8 | $ 3 | |
Operating Leases, Future Minimum Payments Due, Next Twelve Months | 0.6 | 0.4 | |
Operating Leases, Future Minimum Payments, Due in Two and Three Years, Total | 1.1 | 0.7 | |
Operating Leases, Future Minimum Payments, Due in Four and Five Years, Total | 0.9 | 0.5 | |
Operating Leases, Future Minimum Payments, Due Thereafter | 1.2 | 1.4 | |
Depreciation, Total | $ 3.9 | $ 3.6 | $ 3 |
Note 5 - Premises and Equipme_4
Note 5 - Premises and Equipment, Net - Summary of Premises and Equipment (Details) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Property, plant and equipment, gross | $ 92,598,000 | $ 81,699,000 |
Less: accumulated depreciation | 35,271,000 | 33,378,000 |
Total premises and equipment | 57,327,000 | 48,321,000 |
Land and Land Improvements [Member] | ||
Property, plant and equipment, gross | 17,039,000 | 18,198,000 |
Building [Member] | ||
Property, plant and equipment, gross | 52,847,000 | 45,362,000 |
Furniture and Fixtures [Member] | ||
Property, plant and equipment, gross | $ 22,712,000 | $ 18,139,000 |
Note 6 - Mortgage Loan Servic_3
Note 6 - Mortgage Loan Servicing (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Continuing Involvement with Transferred Financial Assets Custodial Escrow Balance | $ 6,400 | $ 4,100 |
Valuation Allowance for Impairment of Recognized Servicing Assets, Balance, Ending Balance | 0 | 0 |
Servicing Asset at Fair Value, Amount, Ending Balance | $ 7,400 | $ 8,400 |
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Discount Rate | 10.00% | 10.00% |
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Prepayment Speed | 15.30% | 9.30% |
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Expected Credit Losses | 0.32% | 0.32% |
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Weighted Average Life | 5 years 109 days | 7 years 109 days |
Note 6 - Mortgage Loan Servic_4
Note 6 - Mortgage Loan Servicing - Mortgage Loans Serviced for Others (Details) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Mortgage loans serviced for others | $ 726,960,000 | $ 615,595,000 |
Federal Home Loan Mortgage Corporation [Member] | ||
Mortgage loans serviced for others | 711,643,000 | 599,262,000 |
Federa lHome Loan Bank [Member] | ||
Mortgage loans serviced for others | $ 15,317,000 | $ 16,333,000 |
Note 6 - Mortgage Loan Servic_5
Note 6 - Mortgage Loan Servicing - Activity for Capitalized Mortgage Loan Servicing Rights (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Balance at beginning of year | $ 4,436,000 | $ 5,106,000 |
Additions | 1,962,000 | 842,000 |
Amortized to expense | (1,746,000) | (1,512,000) |
Balance at end of year | $ 4,652,000 | $ 4,436,000 |
Note 6 - Mortgage Loan Servic_6
Note 6 - Mortgage Loan Servicing - Estimated Amortization (Details) | Dec. 31, 2019USD ($) |
2020 | $ 1,099,000 |
2021 | 925,000 |
2022 | 759,000 |
2023 | 604,000 |
2024 | 467,000 |
Thereafter | $ 798,000 |
Note 7 - Core Deposit Intangi_3
Note 7 - Core Deposit Intangible Assets, Net (Details Textual) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Finite-Lived Core Deposits, Gross | $ 17,500,000 | $ 17,500,000 |
Finite-Lived Intangible Assets, Accumulated Amortization | 13,700,000 | 11,900,000 |
Finite-Lived Intangible Assets, Net, Ending Balance | $ 3,840,000 | $ 5,561,000 |
Note 7 - Core Deposit Intangi_4
Note 7 - Core Deposit Intangible Assets, Net - Estimated Amortization Expense on Core Deposit Intangible Assets (Details) | Dec. 31, 2019USD ($) |
2020 | $ 1,403,000 |
2021 | 1,086,000 |
2022 | 768,000 |
2023 | 450,000 |
2024 | $ 133,000 |
Note 8 - Deposits (Details Text
Note 8 - Deposits (Details Textual) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Time Deposits, at or Above FDIC Insurance Limit | $ 320 | $ 232 |
Note 8 - Deposits - Summary of
Note 8 - Deposits - Summary of Deposits (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Noninterest-bearing | $ 924,916,000 | $ 889,784,000 |
Noninterest-bearing demand, percentage | 34.40% | 36.10% |
Noninterest-bearing demand, percent increase | 3.90% | |
Interest-bearing checking | $ 332,373,000 | $ 339,089,000 |
Interest-bearing checking, percentage | 12.30% | 13.80% |
Interest-bearing checking, percent increase (decrease) | (2.00%) | |
Money market | $ 509,368,000 | $ 434,333,000 |
Money market, percentage | 18.90% | 17.60% |
Money market, percent increase (decrease) | 17.30% | |
Savings | $ 269,318,000 | $ 317,014,000 |
Savings, percentage | 10.00% | 12.90% |
Savings, percent increase (decrease) | (15.00%) | |
Local Time, under $100,000 | $ 198,123,000 | $ 160,092,000 |
Local Time, under $100,000, percentage | 7.40% | 6.50% |
Local Time, under $100,000, percent increase (decrease) | 23.80% | |
Local Time, $100,000 and over | $ 322,827,000 | $ 210,164,000 |
Local Time, $100,000 and over, percentage | 12.00% | 8.50% |
Local Time, $100,000 and over, percent increase (decrease) | 53.60% | |
Total local deposits | $ 2,556,925,000 | $ 2,350,476,000 |
Total local deposits, percentage | 95.00% | 95.40% |
Total local deposits, percent increase (decrease) | 8.80% | |
Out-of-area time, under $100,000 | $ 0 | $ 0 |
Out-of-area time, under $100,000, percentage | 0.00% | 0.00% |
Out-of-area time, under $100,000, percent increase (decrease) | 0.00% | |
Out-of-area time, $100,000 and over | $ 133,459,000 | $ 113,232,000 |
Out-of-area time, $100,000 and over, percentage | 5.00% | 4.60% |
Out-of-area time, $100,000 and over, percent increase (decrease) | 17.90% | |
Total out-of-area deposits | $ 133,459,000 | $ 113,232,000 |
Total out-of-area deposits, percentage | 5.00% | 4.60% |
Total out-of-area deposits, percent increase (decrease) | 17.90% | |
Total deposits | $ 2,690,384,000 | $ 2,463,708,000 |
Total deposits, percentage | 100.00% | 100.00% |
Total deposits, percent increase (decrease) | 9.20% |
Note 8 - Deposits - Maturity Di
Note 8 - Deposits - Maturity Distribution for Certificate of Deposits (Details) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
In one year or less | $ 360,395,000 | $ 204,253,000 |
In one to two years | 173,512,000 | 167,484,000 |
In two to three years | 82,480,000 | 58,671,000 |
In three to four years | 16,019,000 | 36,690,000 |
In four to five years | 22,003,000 | 16,390,000 |
Total certificates of deposit | $ 654,409,000 | $ 483,488,000 |
Note 8 - Deposits - Certificate
Note 8 - Deposits - Certificates of Deposit with Balances of $100,000 or More (Details) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Up to three months | $ 100,635,000 | $ 34,367,000 |
Three months to six months | 59,838,000 | 41,939,000 |
Six months to twelve months | 93,691,000 | 57,137,000 |
Over twelve months | 202,122,000 | 189,953,000 |
Total certificates of deposit | $ 456,286,000 | $ 323,396,000 |
Note 9 - Securities Sold Unde_3
Note 9 - Securities Sold Under Agreements to Repurchase (Details Textual) | 12 Months Ended |
Dec. 31, 2019 | |
Repurchase Agreement Counterparty, Weighted Average Maturity of Agreements | 1 year |
Note 9 - Securities Sold Unde_4
Note 9 - Securities Sold Under Agreements to Repurchase - Securities Sold Under Agreement to Repurchase (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Outstanding balance at year-end | $ 102,675,000 | $ 103,519,000 |
Average daily balance during the year | 105,234,000 | 101,005,000 |
Maximum daily balance during the year | $ 133,411,000 | $ 123,046,000 |
Securities Sold under Agreements to Repurchase [Member] | ||
Weighted average interest rate at year-end | 0.17% | 0.26% |
Weighted average interest rate during the year | 0.24% | 0.24% |
Note 10 - Federal Home Loan B_3
Note 10 - Federal Home Loan Bank of Indianapolis Advances (Details Textual) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Long-term Federal Home Loan Bank Advances, Total | $ 354,000,000 | $ 350,000,000 |
Line of Credit Facility, Maximum Borrowing Capacity | 813,000,000 | |
Line of Credit Facility, Remaining Borrowing Capacity | 453,000,000 | |
Federal Home Loan Bank of Indianapolis [Member] | ||
Long-term Federal Home Loan Bank Advances, Total | $ 354,000,000 | $ 350,000,000 |
Federal Home Loan Bank of Indianapolis [Member] | Minimum [Member] | ||
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Interest Rate at Period End | 1.36% | 1.20% |
Federal Home Loan Bank of Indianapolis [Member] | Maximum [Member] | ||
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Interest Rate at Period End | 3.18% | 3.18% |
Federal Home Loan Bank of Indianapolis [Member] | Weighted Average [Member] | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Interest Rate | 2.45% | 2.30% |
Note 10 - Federal Home Loan B_4
Note 10 - Federal Home Loan Bank of Indianapolis Advances - Maturities of Currently Outstanding FHLB Advances (Details) | Dec. 31, 2019USD ($) |
2020 | $ 40,000,000 |
2021 | 70,000,000 |
2022 | 94,000,000 |
2023 | 80,000,000 |
2024 | 50,000,000 |
Thereafter | $ 20,000,000 |
Note 11 - Federal Income Taxe_2
Note 11 - Federal Income Taxes (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | 21.00% | 35.00% |
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability | $ 0 | $ 0 | $ 1,336,000 |
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | (100,000) | (100,000) | |
Deferred Tax Assets, Capital Loss Carryforwards | 94,000 | 94,000 | |
Unrecognized Tax Benefits, Ending Balance | 0 | 0 | |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued, Total | 0 | 0 | |
Firstbank Corporation [Member] | |||
Deferred Tax Assets, Capital Loss Carryforwards | $ 100,000 | $ 100,000 |
Note 11 - Federal Income Taxe_3
Note 11 - Federal Income Taxes - Consolidated Income Tax Expense (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Current expense | $ 10,978,000 | $ 10,170,000 | $ 13,978,000 |
Deferred expense | 26,000 | (372,000) | (505,000) |
Effect of federal tax law change | 0 | 0 | 1,336,000 |
Federal income tax benefit | $ 11,004,000 | $ 9,798,000 | $ 14,809,000 |
Note 11 - Federal Income Taxe_4
Note 11 - Federal Income Taxes - Effective Income Tax Rate Reconciliation (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Tax at statutory rate | $ 12,697,000 | $ 10,883,000 | $ 16,129,000 |
Tax-exempt interest | (644,000) | (620,000) | (1,030,000) |
Bank owned life insurance | (804,000) | (201,000) | (948,000) |
Effect of federal tax law change | 0 | 0 | 1,336,000 |
Other | (245,000) | (264,000) | (678,000) |
Tax expense | $ 11,004,000 | $ 9,798,000 | $ 14,809,000 |
Note 11 - Federal Income Taxe_5
Note 11 - Federal Income Taxes - Significant Components of Deferred Tax Assets and Liabilities (Details) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Allowance for loan losses | $ 5,017,000 | $ 4,700,000 |
Deferred compensation | 577,000 | 630,000 |
Stock compensation | 720,000 | 660,000 |
Nonaccrual loan interest income | 239,000 | 297,000 |
Deferred loan fees | 104,000 | 185,000 |
Deferred Tax Assets, Capital Loss Carryforwards | 94,000 | 94,000 |
Fair value write-downs on foreclosed properties | 26,000 | 15,000 |
Unrealized loss on securities | 0 | 2,190,000 |
Other | 683,000 | 340,000 |
Deferred tax asset before valuation allowance | 7,460,000 | 9,111,000 |
Valuation allowance | (94,000) | (94,000) |
Deferred tax asset after valuation allowance | 7,366,000 | 9,017,000 |
Depreciation | 1,743,000 | 1,205,000 |
Prepaid expenses | 269,000 | 238,000 |
Core deposit intangible | 787,000 | 1,142,000 |
Mortgage loan servicing rights | 977,000 | 932,000 |
Unrealized gain on securities | 982,000 | 0 |
Business combination adjustments | 2,058,000 | 2,054,000 |
Other | 485,000 | 183,000 |
Deferred tax liability | 7,301,000 | 5,754,000 |
Total net deferred tax asset | $ 65,000 | $ 3,263,000 |
Note 12 - Stock-based Compens_3
Note 12 - Stock-based Compensation (Details Textual) - USD ($) $ in Millions | May 23, 2019 | Oct. 25, 2018 | May 24, 2018 | May 25, 2017 | Jun. 06, 2016 | Jun. 01, 2014 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 102,000 | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 0 | 0 | 0 | |||||||||
Mercantile Plans [Member] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 0 | 0 | 0 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | $ 0.1 | |||||||||||
First Bank Plans [Member] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 0 | 0 | 0 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | $ 0.1 | |||||||||||
Firstbank Corporation [Member] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 282,200 | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares | 258,400 | 23,800 | ||||||||||
First Bank Employees [Member] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Number of Shares for Maximum Vesting Rights | 50 | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Minimum Number of Shares for Minimum Vesting Rights | 50 | |||||||||||
First Bank Employees [Member] | Grant Per Annum Starting One Year From Date of Grant [Member] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 20.00% | |||||||||||
First Bank Employees [Member] | Minimum [Member] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 1 year | |||||||||||
First Bank Employees [Member] | Maximum [Member] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 5 years | |||||||||||
Director [Member] | ||||||||||||
Stock Issued During Period, Shares, Issued for Services | 12,000 | 11,000 | 12,000 | 13,000 | ||||||||
Share-based Payment Arrangement, Expense | $ 0.4 | $ 0.4 | $ 0.3 | $ 0.4 | ||||||||
Bank Board Members [Member] | ||||||||||||
Stock Issued During Period, Shares, Issued for Services | 1,000 | |||||||||||
Share-based Payment Arrangement, Expense | $ 0.1 | |||||||||||
Restricted Stock [Member] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | 3 years | 3 years | 3 years | 3 years | 3 years | ||||||
Restricted Stock [Member] | Mercantile Plans [Member] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 84,596 | 91,400 | 94,592 | |||||||||
Share-based Payment Arrangement, Option [Member] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 2 years | 2 years | 2 years | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percent | 110.00% | 110.00% | 110.00% | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 7 years | 7 years | 7 years | |||||||||
Performance Shares [Member] | Executive Officer [Member] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 23,596 | 24,633 |
Note 12 - Stock-based Compens_4
Note 12 - Stock-based Compensation - Summary of Restricted Stock Activity (Details) - Restricted Stock [Member] - Mercantile Plans [Member] - $ / shares | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Nonvested at beginning of year (in shares) | 262,967 | 239,637 | 228,343 |
Nonvested at beginning of year (in dollars per share) | $ 33.97 | $ 32.37 | $ 26.09 |
Granted (in shares) | 84,596 | 91,400 | 94,592 |
Granted (in dollars per share) | $ 35.29 | $ 31.82 | $ 37.11 |
Vested (in shares) | (81,772) | (55,792) | (74,979) |
Vested (in dollars per share) | $ 32.19 | $ 25.14 | $ 20.17 |
Forfeited (in shares) | (3,531) | (12,278) | (8,319) |
Forfeited (in dollars per share) | $ 34.85 | $ 31.62 | $ 23.75 |
Nonvested at end of year (in shares) | 262,260 | 262,967 | 239,637 |
Nonvested at end of year (in dollars per share) | $ 34.91 | $ 33.97 | $ 32.37 |
Note 12 - Stock-based Compens_5
Note 12 - Stock-based Compensation - Summary of Stock Option Activity (Details) - $ / shares | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 0 | 0 | 0 |
Mercantile Plans [Member] | |||
Outstanding at beginning of year (in shares) | 13,700 | 15,808 | 16,808 |
Outstanding at beginning of year (in dollars per share) | $ 30.51 | $ 29.62 | $ 29.17 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 0 | 0 | 0 |
Granted (in dollars per share) | $ 0 | ||
Exercised (in shares) | (4,000) | (2,108) | (1,000) |
Exercised (in dollars per share) | $ 24.91 | $ 23.77 | $ 22.15 |
Forfeited or expired (in shares) | 0 | 0 | 0 |
Forfeited or expired (in dollars per share) | $ 0 | $ 0 | |
Outstanding at end of year (in shares) | 9,700 | 13,700 | 15,808 |
Outstanding at end of year (in dollars per share) | $ 32.83 | $ 30.51 | $ 29.62 |
Options exercisable at year-end (in shares) | 9,700 | 13,700 | 9,308 |
Options exercisable at year-end (in dollars per share) | $ 32.83 | $ 30.51 | $ 25 |
First Bank Plans [Member] | |||
Outstanding at beginning of year (in shares) | 5,200 | 15,100 | 44,275 |
Outstanding at beginning of year (in dollars per share) | $ 6.57 | $ 7.20 | $ 9.86 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 0 | 0 | 0 |
Granted (in dollars per share) | $ 0 | ||
Exercised (in shares) | (4,200) | (9,900) | (27,675) |
Exercised (in dollars per share) | $ 6.90 | $ 7.53 | $ 11.50 |
Forfeited or expired (in shares) | 0 | 0 | (1,500) |
Forfeited or expired (in dollars per share) | $ 0 | $ 0 | $ 6.33 |
Outstanding at end of year (in shares) | 1,000 | 5,200 | 15,100 |
Outstanding at end of year (in dollars per share) | $ 5.19 | $ 6.57 | $ 7.20 |
Options exercisable at year-end (in shares) | 1,000 | 5,200 | 15,100 |
Options exercisable at year-end (in dollars per share) | $ 5.19 | $ 6.57 | $ 7.20 |
Note 12 - Stock-based Compens_6
Note 12 - Stock-based Compensation - Summary of Options Outstanding (Details) - $ / shares | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Mercantile Plans [Member] | |||
Minimum exercise price (in dollars per share) | $ 22.15 | $ 22.15 | $ 22.15 |
Maximum exercise price (in dollars per share) | $ 36.22 | $ 36.22 | $ 36.22 |
Outstanding Number (in shares) | 9,700 | ||
Average remaining option term (Year) | 3 years 146 days | 4 years 36 days | 5 years |
Outstanding Weighted Average Exercise Price (in dollars per share) | $ 32.83 | ||
Exercisable Number (in shares) | 9,700 | ||
Exercisable Weighted Average Exercise Price (in dollars per share) | $ 32.83 | ||
Mercantile Plans [Member] | Exercise Price Range 1 [Member] | |||
Minimum exercise price (in dollars per share) | 22 | ||
Maximum exercise price (in dollars per share) | $ 23 | ||
Outstanding Number (in shares) | 1,000 | ||
Average remaining option term (Year) | 1 year 328 days | ||
Outstanding Weighted Average Exercise Price (in dollars per share) | $ 22.15 | ||
Exercisable Number (in shares) | 1,000 | ||
Exercisable Weighted Average Exercise Price (in dollars per share) | $ 22.15 | ||
Mercantile Plans [Member] | Exercise Price Range 2 [Member] | |||
Minimum exercise price (in dollars per share) | 27 | ||
Maximum exercise price (in dollars per share) | $ 28 | ||
Outstanding Number (in shares) | 2,200 | ||
Average remaining option term (Year) | 2 years 328 days | ||
Outstanding Weighted Average Exercise Price (in dollars per share) | $ 27.66 | ||
Exercisable Number (in shares) | 2,200 | ||
Exercisable Weighted Average Exercise Price (in dollars per share) | $ 27.66 | ||
Mercantile Plans [Member] | Exercise Price Range 3 [Member] | |||
Minimum exercise price (in dollars per share) | 36 | ||
Maximum exercise price (in dollars per share) | $ 37 | ||
Outstanding Number (in shares) | 6,500 | ||
Average remaining option term (Year) | 3 years 328 days | ||
Outstanding Weighted Average Exercise Price (in dollars per share) | $ 36.22 | ||
Exercisable Number (in shares) | 6,500 | ||
Exercisable Weighted Average Exercise Price (in dollars per share) | $ 36.22 | ||
First Bank Plans [Member] | |||
Minimum exercise price (in dollars per share) | 5.19 | $ 5.19 | $ 5.19 |
Maximum exercise price (in dollars per share) | $ 5.19 | $ 8.60 | $ 8.60 |
Outstanding Number (in shares) | 1,000 | ||
Average remaining option term (Year) | 328 days | 1 year 182 days | 1 year 255 days |
Outstanding Weighted Average Exercise Price (in dollars per share) | $ 5.19 | ||
Exercisable Number (in shares) | 1,000 | ||
Exercisable Weighted Average Exercise Price (in dollars per share) | $ 5.19 | ||
First Bank Plans [Member] | Exercise Price Range 1 [Member] | |||
Minimum exercise price (in dollars per share) | 5 | ||
Maximum exercise price (in dollars per share) | $ 6 | ||
Outstanding Number (in shares) | 1,000 | ||
Average remaining option term (Year) | 328 days | ||
Outstanding Weighted Average Exercise Price (in dollars per share) | $ 5.19 | ||
Exercisable Number (in shares) | 1,000 | ||
Exercisable Weighted Average Exercise Price (in dollars per share) | $ 5.19 |
Note 12 - Stock-based Compens_7
Note 12 - Stock-based Compensation - Summary of Information Related to Options Outstanding (Details) - $ / shares | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Mercantile Plans [Member] | |||
Minimum exercise price (in dollars per share) | $ 22.15 | $ 22.15 | $ 22.15 |
Maximum exercise price (in dollars per share) | $ 36.22 | $ 36.22 | $ 36.22 |
Average remaining option term (Year) | 3 years 146 days | 4 years 36 days | 5 years |
First Bank Plans [Member] | |||
Minimum exercise price (in dollars per share) | $ 5.19 | $ 5.19 | $ 5.19 |
Maximum exercise price (in dollars per share) | $ 5.19 | $ 8.60 | $ 8.60 |
Average remaining option term (Year) | 328 days | 1 year 182 days | 1 year 255 days |
Note 12 - Stock-based Compens_8
Note 12 - Stock-based Compensation - Summary of Stock Option Grants and Exercises (Details) - USD ($) $ / shares in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Proceeds from stock option exercises, net of cashless exercises | $ 128,000 | $ 108,000 | $ 318,000 |
Mercantile Plans [Member] | |||
Aggregate intrinsic value of stock options exercised | 43,000 | 17,000 | 15,000 |
Proceeds from stock option exercises, net of cashless exercises | 97,000 | 33,000 | 0 |
Tax benefit realized from stock option exercises | 0 | 0 | 0 |
First Bank Plans [Member] | |||
Aggregate intrinsic value of stock options exercised | 114,000 | 300,000 | 594,000 |
Proceeds from stock option exercises, net of cashless exercises | 29,000 | 108,000 | 318,000 |
Tax benefit realized from stock option exercises | $ 0 | $ 0 | $ 208,000 |
Weighted average per share fair value of stock options granted (in dollars per share) | $ 0 | $ 0 | $ 0 |
Note 13 - Related Parties (Deta
Note 13 - Related Parties (Details Textual) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Related Party Deposits and Repurchase Agreements | $ 15,000,000 | $ 14,800,000 | |
Directors and Executive Officers [Member] | |||
Loan Commitments to Related Parties | 115,000,000 | 41,300,000 | |
Loans and Leases Receivable, Related Parties, Ending Balance | $ 104,043,000 | $ 92,033,000 | $ 14,473,000 |
Note 13 - Related Parties - Loa
Note 13 - Related Parties - Loans Outstanding to Directors and Executive Officers (Details) - Directors and Executive Officers [Member] - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Beginning balance | $ 92,033,000 | $ 14,473,000 |
New loans | 16,662,000 | 79,330,000 |
Repayments | (4,652,000) | (1,770,000) |
Ending balance | $ 104,043,000 | $ 92,033,000 |
Note 14 - Commitments and Off_3
Note 14 - Commitments and Off-balance Sheet Risk (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Reserve or Liability Balance for Financial Instruments With Off Balance Sheet Risk | $ 0 | $ 0 |
Term Debt, Secured by Real Estate Balloon Payment, Period | 5 years | |
Amount of Federal Reserve Required | $ 10,700 | $ 9,100 |
Minimum [Member] | ||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Interest Rate | 4.00% | |
Amortization Period for Term Debt, Secured by Real Estate | 10 years | |
Interest Rates on Loans, Secured by Non-real Estate Collateral | 4.50% | |
Term Debt Secured, by Non-real Estate Collateral Maturity Period | 3 years | |
Maximum [Member] | ||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Interest Rate | 6.00% | |
Amortization Period for Term Debt, Secured by Real Estate | 20 years | |
Interest Rates on Loans, Secured by Non-real Estate Collateral | 6.00% | |
Term Debt Secured, by Non-real Estate Collateral Maturity Period | 7 years |
Note 14 - Commitments and Off_4
Note 14 - Commitments and Off-balance Sheet Risk - Exposure to Credit Losses (Details) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Contractual amounts of financial instruments with off-balance sheet risk | $ 1,038,444,000 | $ 1,036,775,000 |
Standby Letters of Credit [Member] | ||
Contractual amounts of financial instruments with off-balance sheet risk | 22,798,000 | 25,322,000 |
Unused lines of Credit [Member] | Commercial Portfolio Segment [Member] | ||
Contractual amounts of financial instruments with off-balance sheet risk | 776,493,000 | 784,895,000 |
Unused lines of Credit [Member] | One to Four Family Mortgages [Member] | ||
Contractual amounts of financial instruments with off-balance sheet risk | 60,858,000 | 57,378,000 |
Unused lines of Credit [Member] | Consumer Credit Card [Member] | ||
Contractual amounts of financial instruments with off-balance sheet risk | 58,199,000 | 47,432,000 |
Unused lines of Credit [Member] | Consumer Other Financing Receivable 1 [Member] | ||
Contractual amounts of financial instruments with off-balance sheet risk | 18,135,000 | 20,231,000 |
Loan Origination Commitments [Member] | ||
Contractual amounts of financial instruments with off-balance sheet risk | $ 101,961,000 | $ 101,517,000 |
Note 14 - Commitments and Off_5
Note 14 - Commitments and Off-balance-sheet Risk - Instruments Carried at Fair Values (Details) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Standby letters of credit, carrying value | $ 1,038,444,000 | $ 1,036,775,000 |
Standby Letters of Credit [Member] | ||
Standby letters of credit, contract amount | 22,798,000 | 25,322,000 |
Standby letters of credit, carrying value | $ 160,000 | $ 126,000 |
Note 15 - Benefit Plans (Detail
Note 15 - Benefit Plans (Details Textual) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2014 | |
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 5.00% | 4.25% | ||
Defined Contribution Plan, Cost | $ 1.7 | $ 1.6 | $ 1.3 | |
Interest Expense, Deferred Compensation Plan | $ 0.1 | $ 0.1 | ||
Common Stock Including Additional Paid in Capital [Member] | ||||
Stock Issued During Period, Shares, Employee Stock Purchase Plans | 1,507 | 1,579 | 1,351 | |
Stock Purchase Plan [Member] | ||||
Common Stock, Capital Shares Reserved for Future Issuance | 250,000 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 241,000 | |||
Maximum [Member] | ||||
Interest Expense, Deferred Compensation Plan | $ 0.1 | |||
Other Liabilities [Member] | ||||
Deferred Compensation Liability, Current and Noncurrent, Total | $ 2.7 | $ 3 |
Note 16 - Fair Values of Fina_3
Note 16 - Fair Values of Financial Instruments - Fair Value Hierarchy of Financial Instruments (Details) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 | |
Securities available for sale | $ 334,655,000 | $ 337,366,000 | |
Servicing Asset at Fair Value, Amount, Ending Balance | 7,400,000 | 8,400,000 | |
Reported Value Measurement [Member] | |||
Securities available for sale | [1] | 334,655,000 | 337,366,000 |
Federal Home Loan Bank stock | [2] | 18,002,000 | 16,022,000 |
Estimate of Fair Value Measurement [Member] | |||
Securities available for sale | [1] | 334,655,000 | 337,366,000 |
Federal Home Loan Bank stock | [2] | 18,002,000 | 16,022,000 |
Fair Value, Inputs, Level 1 [Member] | |||
Securities available for sale | 0 | 0 | |
Fair Value, Inputs, Level 1 [Member] | Reported Value Measurement [Member] | |||
Cash | 16,430,000 | 15,656,000 | |
Fair Value, Inputs, Level 1 [Member] | Estimate of Fair Value Measurement [Member] | |||
Cash | 16,430,000 | 15,656,000 | |
Fair Value, Inputs, Level 2 [Member] | Reported Value Measurement [Member] | |||
Cash equivalents | 217,301,000 | 59,698,000 | |
Loans held for sale | 4,978,000 | 1,122,000 | |
Servicing Asset at Fair Value, Amount, Ending Balance | 4,652,000 | 4,436,000 | |
Accrued interest receivable | 9,944,000 | 9,896,000 | |
Deposits | 2,690,384,000 | 2,463,708,000 | |
Securities sold under agreements to repurchase | 102,675,000 | 103,519,000 | |
Federal Home Loan Bank advances | 354,000,000 | 350,000,000 | |
Subordinated debentures | 46,881,000 | 46,199,000 | |
Accrued interest payable | 3,949,000 | 2,249,000 | |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | |||
Cash equivalents | 217,301,000 | 59,698,000 | |
Loans held for sale | 4,978,000 | 1,122,000 | |
Servicing Asset at Fair Value, Amount, Ending Balance | 7,375,000 | 8,444,000 | |
Accrued interest receivable | 9,944,000 | 9,896,000 | |
Deposits | 2,600,452,000 | 2,471,617,000 | |
Securities sold under agreements to repurchase | 102,675,000 | 103,519,000 | |
Federal Home Loan Bank advances | 361,887,000 | 348,428,000 | |
Subordinated debentures | 46,140,000 | 46,543,000 | |
Accrued interest payable | 3,949,000 | 2,249,000 | |
Fair Value, Inputs, Level 3 [Member] | Reported Value Measurement [Member] | |||
Loans, net | 2,827,800,000 | 2,729,583,000 | |
Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value Measurement [Member] | |||
Loans, net | $ 2,887,168,000 | $ 2,711,687,000 | |
[1] | See Note 17 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; therefore, fair value is estimated at carrying amount. |
Note 17 - Fair Values Measure_3
Note 17 - Fair Values Measurements (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Debt Securities, Available-for-sale, Total | $ 334,655,000 | $ 337,366,000 |
Loans Receivable Held-for-sale, Net, Not Part of Disposal Group, Ending Balance | $ 5,000,000 | 1,100,000 |
Real Estate Dependent Loans and Foreclosed Assets Estimated Selling Costs [Member] | ||
Fair Value Inputs, Discount Factor | 10.00% | |
Real Estate Dependent Loans and Foreclosed Assets [Member] | Commercial Real Estate [Member] | Minimum [Member] | ||
Fair Value Inputs, Discount Factor | 15.00% | |
Real Estate Dependent Loans and Foreclosed Assets [Member] | Commercial Real Estate [Member] | Maximum [Member] | ||
Fair Value Inputs, Discount Factor | 25.00% | |
Real Estate Dependent Loans and Foreclosed Assets [Member] | Residential Real Estate [Member] | Minimum [Member] | ||
Fair Value Inputs, Discount Factor | 25.00% | |
Real Estate Dependent Loans and Foreclosed Assets [Member] | Residential Real Estate [Member] | Maximum [Member] | ||
Fair Value Inputs, Discount Factor | 50.00% | |
Municipal General Obligation Bonds [Member] | ||
Debt Securities, Available-for-sale, Total | $ 101,079,000 | 102,497,000 |
Fair Value, Inputs, Level 1 [Member] | ||
Debt Securities, Available-for-sale, Total | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Municipal General Obligation Bonds [Member] | ||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements | 1,700,000 | 1,500,000 |
Available-for-sale Securities [Member] | ||
SEC Schedule, 12-09, Valuation Allowances and Reserves, Amount, Ending Balance | $ 0 | $ 0 |
Note 17 - Fair Values Measure_4
Note 17 - Fair Values Measurements - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Debt Securities, Available-for-sale, Total | $ 334,655,000 | $ 337,366,000 |
Fair Value, Inputs, Level 1 [Member] | ||
Debt Securities, Available-for-sale, Total | 0 | 0 |
US Government Agencies Debt Securities [Member] | ||
Debt Securities, Available-for-sale, Total | 186,410,000 | 187,077,000 |
Collateralized Mortgage Backed Securities [Member] | ||
Debt Securities, Available-for-sale, Total | 42,470,000 | 43,658,000 |
Municipal General Obligation Bonds [Member] | ||
Debt Securities, Available-for-sale, Total | 101,079,000 | 102,497,000 |
Municipal Revenue Bonds [Member] | ||
Debt Securities, Available-for-sale, Total | 4,196,000 | 3,634,000 |
Other Debt and Equity Securities [Member] | ||
Debt Securities, Available-for-sale, Total | 500,000 | 500,000 |
Fair Value, Recurring [Member] | ||
Debt Securities, Available-for-sale, Total | 334,655,000 | 337,366,000 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Debt Securities, Available-for-sale, Total | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Debt Securities, Available-for-sale, Total | 332,605,000 | 333,637,000 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Debt Securities, Available-for-sale, Total | 2,050,000 | 3,729,000 |
Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | ||
Debt Securities, Available-for-sale, Total | 186,410,000 | 187,077,000 |
Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Debt Securities, Available-for-sale, Total | 0 | 0 |
Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Debt Securities, Available-for-sale, Total | 186,410,000 | 187,077,000 |
Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Debt Securities, Available-for-sale, Total | 0 | 0 |
Fair Value, Recurring [Member] | Collateralized Mortgage Backed Securities [Member] | ||
Debt Securities, Available-for-sale, Total | 42,470,000 | 43,658,000 |
Fair Value, Recurring [Member] | Collateralized Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Debt Securities, Available-for-sale, Total | 0 | 0 |
Fair Value, Recurring [Member] | Collateralized Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Debt Securities, Available-for-sale, Total | 42,470,000 | 43,658,000 |
Fair Value, Recurring [Member] | Collateralized Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Debt Securities, Available-for-sale, Total | 0 | 0 |
Fair Value, Recurring [Member] | Municipal General Obligation Bonds [Member] | ||
Debt Securities, Available-for-sale, Total | 101,079,000 | 102,497,000 |
Fair Value, Recurring [Member] | Municipal General Obligation Bonds [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Debt Securities, Available-for-sale, Total | 0 | 0 |
Fair Value, Recurring [Member] | Municipal General Obligation Bonds [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Debt Securities, Available-for-sale, Total | 99,029,000 | 98,768,000 |
Fair Value, Recurring [Member] | Municipal General Obligation Bonds [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Debt Securities, Available-for-sale, Total | 2,050,000 | 3,729,000 |
Fair Value, Recurring [Member] | Municipal Revenue Bonds [Member] | ||
Debt Securities, Available-for-sale, Total | 4,196,000 | 3,634,000 |
Fair Value, Recurring [Member] | Municipal Revenue Bonds [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Debt Securities, Available-for-sale, Total | 0 | 0 |
Fair Value, Recurring [Member] | Municipal Revenue Bonds [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Debt Securities, Available-for-sale, Total | 4,196,000 | 3,634,000 |
Fair Value, Recurring [Member] | Municipal Revenue Bonds [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Debt Securities, Available-for-sale, Total | 0 | 0 |
Fair Value, Recurring [Member] | Other Debt and Equity Securities [Member] | ||
Debt Securities, Available-for-sale, Total | 500,000 | 500,000 |
Fair Value, Recurring [Member] | Other Debt and Equity Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Debt Securities, Available-for-sale, Total | 0 | 0 |
Fair Value, Recurring [Member] | Other Debt and Equity Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Debt Securities, Available-for-sale, Total | 500,000 | 500,000 |
Fair Value, Recurring [Member] | Other Debt and Equity Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Debt Securities, Available-for-sale, Total | $ 0 | $ 0 |
Note 17 - Fair Values Measure_5
Note 17 - Fair Values Measurements - Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis (Details) - Fair Value, Nonrecurring [Member] - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Impaired loans | $ 1,107,000 | $ 8,181,000 |
Foreclosed assets | 452,000 | 811,000 |
Total | 1,559,000 | 8,992,000 |
Fair Value, Inputs, Level 1 [Member] | ||
Impaired loans | 0 | 0 |
Foreclosed assets | 0 | 0 |
Total | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Impaired loans | 0 | 0 |
Foreclosed assets | 0 | 0 |
Total | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | ||
Impaired loans | 1,107,000 | 8,181,000 |
Foreclosed assets | 452,000 | 811,000 |
Total | $ 1,559,000 | $ 8,992,000 |
Note 18 - Earnings Per Share (D
Note 18 - Earnings Per Share (Details Textual) - shares | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Share-based Payment Arrangement, Option [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 7,000 | 7,000 | 7,000 |
Note 18 - Earnings Per Share -
Note 18 - Earnings Per Share - Computation of Earnings Per Share (Details) - USD ($) | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Net income attributable to common shares | $ 13,317,000 | $ 12,600,000 | $ 11,715,000 | $ 11,824,000 | $ 11,574,000 | $ 10,123,000 | $ 9,446,000 | $ 10,881,000 | $ 49,456,000 | $ 42,024,000 | $ 31,274,000 |
Weighted average common shares outstanding (in shares) | 16,405,159 | 16,600,612 | 16,478,968 | ||||||||
Basic earnings per common share (in dollars per share) | $ 0.81 | $ 0.77 | $ 0.71 | $ 0.72 | $ 0.70 | $ 0.61 | $ 0.57 | $ 0.66 | $ 3.01 | $ 2.53 | $ 1.90 |
Net income | $ 13,317,000 | $ 12,600,000 | $ 11,715,000 | $ 11,824,000 | $ 11,574,000 | $ 10,123,000 | $ 9,446,000 | $ 10,881,000 | $ 49,456,000 | $ 42,024,000 | $ 31,274,000 |
Weighted average common shares outstanding for basic earnings per common share (in shares) | 16,405,159 | 16,600,612 | 16,478,968 | ||||||||
Add: Dilutive effects of share-based awards (in shares) | 3,976 | 5,804 | 10,102 | ||||||||
Average shares and dilutive potential common shares (in shares) | 16,409,135 | 16,606,416 | 16,489,070 | ||||||||
Diluted earnings per common share (in dollars per share) | $ 0.81 | $ 0.77 | $ 0.71 | $ 0.72 | $ 0.70 | $ 0.61 | $ 0.57 | $ 0.66 | $ 3.01 | $ 2.53 | $ 1.90 |
Note 19 - Subordinated Debent_3
Note 19 - Subordinated Debentures (Details Textual) | Jan. 26, 2016USD ($) | Jun. 01, 2014USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) |
Number of Business Trusts | 5 | |||
Business Combination Debt Assumed Number of Trusts | 4 | |||
Fair Value Discount of Subordinated Debentures Related to Assumed Business Trusts at Time af Merger | $ 15,000,000 | |||
Amortization of Fair Value Discount Related to Subordinated Debentures of Assumed Business Trusts | $ 700,000 | |||
Amortization Period of Fair Value Discount Related to Subordinated Debentures of Assumed Business Trusts | 21 years 182 days | |||
Preferred Securities of Subsidiary Trust | $ 44,800,000 | $ 44,100,000 | ||
Junior Subordinated Debenture Owed to Unconsolidated Subsidiary Trust, Total | 46,881,000 | $ 46,199,000 | ||
Mercantile Bank Capital Trust I [Member] | ||||
Preferred Securities of Subsidiary Trust | $ 32,000,000 | $ 21,000,000 | ||
Payments for Repurchase of Trust Preferred Securities | 11,000,000 | |||
Junior Subordinated Debenture Owed to Unconsolidated Subsidiary Trust, Total | 21,000,000 | |||
Fund [Member] | Mercantile Bank Capital Trust I [Member] | ||||
Preferred Securities of Subsidiary Trust | $ 11,000,000 |
Note 19 - Subordinated Debent_4
Note 19 - Subordinated Debentures - Business Trusts (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Jan. 26, 2016 | |
Preferred securities outstanding | $ 44,800,000 | $ 44,100,000 | |
Mercantile Bank Capital Trust I [Member] | |||
Preferred securities outstanding | $ 21,000,000 | $ 32,000,000 | |
Mercantile Bank Capital Trust I [Member] | London Interbank Offered Rate (LIBOR) [Member] | |||
Interest rate margin | 2.18% | ||
Firstbank Capital Trust I [Member] | |||
Preferred securities outstanding | $ 10,000,000 | ||
Firstbank Capital Trust I [Member] | London Interbank Offered Rate (LIBOR) [Member] | |||
Interest rate margin | 1.99% | ||
Firstbank Capital Trust II [Member] | |||
Preferred securities outstanding | $ 10,000,000 | ||
Firstbank Capital Trust II [Member] | London Interbank Offered Rate (LIBOR) [Member] | |||
Interest rate margin | 1.27% | ||
Firstbank Capital Trust III [Member] | |||
Preferred securities outstanding | $ 7,500,000 | ||
Firstbank Capital Trust III [Member] | London Interbank Offered Rate (LIBOR) [Member] | |||
Interest rate margin | 1.35% | ||
Firstbank Capital Trust IV [Member] | |||
Preferred securities outstanding | $ 7,500,000 | ||
Firstbank Capital Trust IV [Member] | London Interbank Offered Rate (LIBOR) [Member] | |||
Interest rate margin | 1.35% |
Note 20 - Regulatory Matters (D
Note 20 - Regulatory Matters (Details Textual) - USD ($) $ / shares in Units, $ in Millions | Mar. 18, 2020 | Jan. 16, 2020 | Dec. 18, 2019 | Oct. 10, 2019 | Sep. 18, 2019 | Jul. 11, 2019 | Jun. 19, 2019 | Apr. 11, 2019 | Mar. 20, 2019 | Jan. 17, 2019 | Dec. 31, 2019 | Dec. 31, 2019 | May 31, 2019 | Dec. 31, 2018 | Dec. 31, 2009 |
Capital Conservation Buffer | 2.50% | 2.50% | |||||||||||||
Common Equity Tier 1 Risk Based Capital Required For Capital Adequacy to Risk Weighted Assets | 7.00% | 7.00% | |||||||||||||
Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets | 8.50% | 8.50% | |||||||||||||
Capital Required for Capital Adequacy to Risk Weighted Assets | 10.50% | 10.50% | |||||||||||||
Statutory Accounting Practices, Statutory Amount Available for Dividend Payments without Regulatory Approval | $ 75.2 | $ 75.2 | |||||||||||||
Common Stock, Dividends, Per Share, Declared | $ 0.27 | $ 0.27 | $ 0.26 | $ 0.26 | |||||||||||
Stock Repurchase Program, Authorized Amount | $ 20 | ||||||||||||||
Stock Repurchased During Period, Shares | 233,300 | 1,400,000 | |||||||||||||
Stock Repurchased During Period, Value | $ 7.2 | $ 32.6 | |||||||||||||
Treasury Stock Acquired, Average Cost Per Share | $ 30.79 | $ 23.47 | |||||||||||||
Preferred Securities of Subsidiary Trust | $ 44.8 | $ 44.8 | $ 44.1 | ||||||||||||
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 One Capital | $ 15,000 | ||||||||||||||
Trust Preferred Securities Included in Tier One Capital | $ 44.8 | $ 44.8 | $ 44.1 | ||||||||||||
Common Stock, Dividends, Per Share, Cash Paid | $ 0.27 | $ 0.27 | $ 0.26 | $ 0.26 | |||||||||||
Forecast [Member] | |||||||||||||||
Common Stock, Dividends, Per Share, Cash Paid | $ 0.28 | ||||||||||||||
Subsequent Event [Member] | |||||||||||||||
Common Stock, Dividends, Per Share, Declared | $ 0.28 |
Note 20 - Regulatory Matters -
Note 20 - Regulatory Matters - Actual Capital Levels and Minimum Levels (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Total capital minimum required for capital adequacy, ratio | 10.50% | |
Tier 1 capital minimum required for capital adequacy, ratio | 8.50% | |
Common equity tier 1 capital minimum required for capital adequacy, ratio | 7.00% | |
Consolidated Entities [Member] | ||
Total capital, amount | $ 429,038 | $ 396,102 |
Total capital, ratio | 13.10% | 12.50% |
Total capital minimum required for capital adequacy, amount | $ 262,141 | $ 253,413 |
Total capital minimum required for capital adequacy, ratio | 8.00% | 8.00% |
Tier 1 capital, amount | $ 405,148 | $ 373,721 |
Tier 1 capital, ratio | 12.40% | 11.80% |
Tier 1 capital minimum required for capital adequacy, amount | $ 196,606 | $ 190,060 |
Tier 1 capital minimum required for capital adequacy, ratio | 6.00% | 6.00% |
Common equity tier 1, amount | $ 360,342 | $ 329,596 |
Common equity tier 1, ratio | 11.00% | 10.40% |
Common equity tier 1 minimum required for capital adequacy, amount | $ 147,454 | $ 142,545 |
Common equity tier 1 capital minimum required for capital adequacy, ratio | 4.50% | 4.50% |
Tier 1 capital to average assets, amount | $ 405,148 | $ 373,721 |
Tier 1 capital to average assets, ratio | 11.30% | 11.40% |
Tier 1 capital to average assets, minimum required for capital adequacy, amount | $ 143,689 | $ 131,014 |
Tier 1 capital to average assets minimum required for capital adequacy, ratio | 4.00% | 4.00% |
Bank [Member] | ||
Total capital, amount | $ 424,917 | $ 388,591 |
Total capital, ratio | 13.00% | 12.30% |
Total capital minimum required for capital adequacy, amount | $ 262,088 | $ 253,225 |
Total capital minimum required for capital adequacy, ratio | 8.00% | 8.00% |
Total capital to be well capitalized, amount | $ 327,610 | $ 316,531 |
Total capital to be well capitalized, ratio | 10.00% | 10.00% |
Tier 1 capital, amount | $ 401,027 | $ 366,211 |
Tier 1 capital, ratio | 12.20% | 11.60% |
Tier 1 capital minimum required for capital adequacy, amount | $ 196,566 | $ 189,919 |
Tier 1 capital minimum required for capital adequacy, ratio | 6.00% | 6.00% |
Tier 1 capital to be well capitalized, amount | $ 262,088 | $ 253,225 |
Tier 1 capital to be well capitalized, ratio | 8.00% | 8.00% |
Common equity tier 1, amount | $ 401,027 | $ 366,211 |
Common equity tier 1, ratio | 12.20% | 11.60% |
Common equity tier 1 minimum required for capital adequacy, amount | $ 147,425 | $ 142,439 |
Common equity tier 1 capital minimum required for capital adequacy, ratio | 4.50% | 4.50% |
Common equity tier 1 capital to be well capitalized, amount | $ 212,947 | $ 205,745 |
Common equity tier 1 capital to be well capitalized, ratio | 6.50% | 6.50% |
Tier 1 capital to average assets, amount | $ 401,027 | $ 366,211 |
Tier 1 capital to average assets, ratio | 11.20% | 11.20% |
Tier 1 capital to average assets, minimum required for capital adequacy, amount | $ 143,670 | $ 130,913 |
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 | $ 179,588 | $ 163,641 |
Tier 1 capital to average assets to be well capitalized, ratio | 5.00% | 5.00% |
Note 21 - Accumulated Other C_2
Note 21 - Accumulated Other Comprehensive Income (Loss) (Details Textual) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
AOCI, Debt Securities, Available-for-sale, Adjustment, after Tax, Total | $ 3.7 | $ (8.2) |
Note 22 - Quarterly Financial_3
Note 22 - Quarterly Financial Data (Unaudited) - Quarterly Financial Data (Unaudited) (Details) - USD ($) | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Interest income | $ 39,564,000 | $ 40,316,000 | $ 39,820,000 | $ 38,637,000 | $ 37,195,000 | $ 35,486,000 | $ 34,319,000 | $ 34,981,000 | $ 158,337,000 | $ 141,981,000 | $ 125,543,000 |
Net interest income | 31,168,000 | 31,605,000 | 31,116,000 | 30,645,000 | 30,818,000 | 29,840,000 | 29,225,000 | 30,199,000 | 124,534,000 | 120,082,000 | 109,748,000 |
Net income | $ 13,317,000 | $ 12,600,000 | $ 11,715,000 | $ 11,824,000 | $ 11,574,000 | $ 10,123,000 | $ 9,446,000 | $ 10,881,000 | $ 49,456,000 | $ 42,024,000 | $ 31,274,000 |
Earnings per share basic (in dollars per share) | $ 0.81 | $ 0.77 | $ 0.71 | $ 0.72 | $ 0.70 | $ 0.61 | $ 0.57 | $ 0.66 | $ 3.01 | $ 2.53 | $ 1.90 |
Earnings per share diluted (in dollars per share) | $ 0.81 | $ 0.77 | $ 0.71 | $ 0.72 | $ 0.70 | $ 0.61 | $ 0.57 | $ 0.66 | $ 3.01 | $ 2.53 | $ 1.90 |
Note 23 - Mercantile Bank Cor_3
Note 23 - Mercantile Bank Corporation (Parent Company Only) Condensed Financial Statements - Condensed Balance Sheets (Details) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
ASSETS | ||||
Other assets | $ 32,812,000 | $ 31,458,000 | ||
Total assets | 3,632,915,000 | 3,363,907,000 | ||
LIABILITIES AND SHAREHOLDERS' EQUITY | ||||
Liabilities | 3,216,354,000 | 2,988,658,000 | ||
Subordinated debentures | 46,881,000 | 46,199,000 | ||
Shareholders’ equity | 416,561,000 | 375,249,000 | $ 365,870,000 | $ 340,811,000 |
Total liabilities and shareholders’ equity | 3,632,915,000 | 3,363,907,000 | ||
Parent Company [Member] | ||||
ASSETS | ||||
Cash and cash equivalents | 6,045,000 | 9,653,000 | $ 9,704,000 | $ 4,257,000 |
Investment in bank subsidiary | 439,946,000 | 394,561,000 | ||
Other assets | 18,032,000 | 19,740,000 | ||
Total assets | 464,023,000 | 423,954,000 | ||
LIABILITIES AND SHAREHOLDERS' EQUITY | ||||
Liabilities | 581,000 | 2,506,000 | ||
Subordinated debentures | 46,881,000 | 46,199,000 | ||
Shareholders’ equity | 416,561,000 | 375,249,000 | ||
Total liabilities and shareholders’ equity | $ 464,023,000 | $ 423,954,000 |
Note 23 - Mercantile Bank Cor_4
Note 23 - Mercantile Bank Corporation (Parent Company Only) Condensed Financial Statements - Condensed Statements of Income (Details) - USD ($) | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Income | |||||||||||
Interest and dividends from subsidiaries | $ 39,564,000 | $ 40,316,000 | $ 39,820,000 | $ 38,637,000 | $ 37,195,000 | $ 35,486,000 | $ 34,319,000 | $ 34,981,000 | $ 158,337,000 | $ 141,981,000 | $ 125,543,000 |
Expenses | |||||||||||
Interest expense | 33,803,000 | 21,899,000 | 15,795,000 | ||||||||
Income before income tax benefit and equity in undistributed net income of subsidiary | 60,460,000 | 51,822,000 | 46,083,000 | ||||||||
Federal income tax benefit | 11,004,000 | 9,798,000 | 14,809,000 | ||||||||
Net income | $ 13,317,000 | $ 12,600,000 | $ 11,715,000 | $ 11,824,000 | $ 11,574,000 | $ 10,123,000 | $ 9,446,000 | $ 10,881,000 | 49,456,000 | 42,024,000 | 31,274,000 |
Comprehensive income | 61,390,000 | 38,646,000 | 32,821,000 | ||||||||
Parent Company [Member] | |||||||||||
Income | |||||||||||
Interest and dividends from subsidiaries | 22,246,000 | 33,832,000 | 16,203,000 | ||||||||
Total income | 22,246,000 | 33,832,000 | 16,203,000 | ||||||||
Expenses | |||||||||||
Interest expense | 3,153,000 | 2,999,000 | 2,496,000 | ||||||||
Other operating expenses | 4,804,000 | 4,424,000 | 3,651,000 | ||||||||
Total expenses | 7,957,000 | 7,423,000 | 6,147,000 | ||||||||
Income before income tax benefit and equity in undistributed net income of subsidiary | 14,289,000 | 26,409,000 | 10,056,000 | ||||||||
Federal income tax benefit | (1,718,000) | (1,610,000) | (4,060,000) | ||||||||
Equity in undistributed net income of subsidiary | 33,449,000 | 14,005,000 | 17,158,000 | ||||||||
Net income | 49,456,000 | 42,024,000 | 31,274,000 | ||||||||
Comprehensive income | $ 61,390,000 | $ 38,646,000 | $ 32,821,000 |
Note 23 - Mercantile Bank Cor_5
Note 23 - Mercantile Bank Corporation (Parent Company Only) Condensed Financial Statements - Condensed Statement of Cash Flows (Details) - USD ($) | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Cash flows from operating activities | |||||||||||
Net income | $ 13,317,000 | $ 12,600,000 | $ 11,715,000 | $ 11,824,000 | $ 11,574,000 | $ 10,123,000 | $ 9,446,000 | $ 10,881,000 | $ 49,456,000 | $ 42,024,000 | $ 31,274,000 |
Adjustments to reconcile net income to net cash from operating activities: | |||||||||||
Stock-based compensation expense | 2,931,000 | 2,410,000 | 1,981,000 | ||||||||
Stock grants to directors for retainer fees | 375,000 | 441,000 | 363,000 | ||||||||
Other assets | (7,636,000) | (2,193,000) | (354,000) | ||||||||
Change in other liabilities | (2,818,000) | 11,029,000 | (943,000) | ||||||||
Cash flows from investing activities | |||||||||||
Net cash for investing activities | (92,838,000) | (210,480,000) | (191,472,000) | ||||||||
Cash flows from financing activities | |||||||||||
Proceeds from stock option exercises, net of cashless exercises | 128,000 | 108,000 | 318,000 | ||||||||
Employee stock purchase plan | 50,000 | 52,000 | 46,000 | ||||||||
Dividend reinvestment plan | 729,000 | 1,165,000 | 1,576,000 | ||||||||
Repurchases of common stock | (7,183,000) | (5,943,000) | 0 | ||||||||
Payment of cash dividends to common shareholders | (17,108,000) | (27,500,000) | (12,046,000) | ||||||||
Net cash for financing activities | 206,448,000 | 23,996,000 | 169,312,000 | ||||||||
Net change in cash and cash equivalents | 158,377,000 | (124,747,000) | 16,505,000 | ||||||||
Parent Company [Member] | |||||||||||
Cash flows from operating activities | |||||||||||
Net income | 49,456,000 | 42,024,000 | 31,274,000 | ||||||||
Adjustments to reconcile net income to net cash from operating activities: | |||||||||||
Equity in undistributed net income of subsidiary | (33,449,000) | (14,005,000) | (17,158,000) | ||||||||
Stock-based compensation expense | 2,931,000 | 2,410,000 | 1,981,000 | ||||||||
Stock grants to directors for retainer fees | 375,000 | 441,000 | 363,000 | ||||||||
Other assets | 2,387,000 | 1,384,000 | (230,000) | ||||||||
Change in other liabilities | (1,924,000) | (187,000) | (677,000) | ||||||||
Net cash from operating activities | 19,776,000 | 32,067,000 | 15,553,000 | ||||||||
Cash flows from investing activities | |||||||||||
Net capital investment into subsidiaries | 0 | 0 | 0 | ||||||||
Net cash for investing activities | 0 | 0 | 0 | ||||||||
Cash flows from financing activities | |||||||||||
Proceeds from stock option exercises, net of cashless exercises | 128,000 | 108,000 | 318,000 | ||||||||
Employee stock purchase plan | 50,000 | 52,000 | 46,000 | ||||||||
Dividend reinvestment plan | 729,000 | 1,165,000 | 1,576,000 | ||||||||
Repurchases of common stock | (7,183,000) | (5,943,000) | 0 | ||||||||
Payment of cash dividends to common shareholders | (17,108,000) | (27,500,000) | (12,046,000) | ||||||||
Net cash for financing activities | (23,384,000) | (32,118,000) | (10,106,000) | ||||||||
Net change in cash and cash equivalents | (3,608,000) | (51,000) | 5,447,000 | ||||||||
Cash and cash equivalents at beginning of period | $ 9,653,000 | $ 9,704,000 | 9,653,000 | 9,704,000 | 4,257,000 | ||||||
Cash and cash equivalents at end of period | $ 6,045,000 | $ 9,653,000 | $ 6,045,000 | $ 9,653,000 | $ 9,704,000 |