Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2016 | Jul. 29, 2016 | |
Document Information [Line Items] | ||
Entity Registrant Name | First Capital Inc. | |
Entity Central Index Key | 1,070,296 | |
Trading Symbol | fcap | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Well-known Seasoned Issuer | No | |
Entity Common Stock, Shares Outstanding (in shares) | 3,337,552 | |
Document Type | 10-Q | |
Document Period End Date | Jun. 30, 2016 | |
Document Fiscal Year Focus | 2,016 | |
Document Fiscal Period Focus | Q2 | |
Amendment Flag | false |
Consolidated Balance Sheets (Un
Consolidated Balance Sheets (Unaudited) - USD ($) | Jun. 30, 2016 | Dec. 31, 2015 |
ASSETS | ||
Cash and due from banks | $ 20,375,000 | $ 14,756,000 |
Interest bearing deposits with banks | 1,490,000 | 3,635,000 |
Federal funds sold | 48,663,000 | 90,783,000 |
Total cash and cash equivalents | 70,528,000 | 109,174,000 |
Interest-bearing time deposits | 16,035,000 | 16,655,000 |
Securities available for sale, at fair value | 249,604,000 | 186,751,000 |
Securities-held to maturity | 3,000 | 4,000 |
Loans, net | 362,129,000 | 359,166,000 |
Loans held for sale | 1,191,000 | 3,081,000 |
Federal Home Loan Bank and other stock, at cost | 1,650,000 | 1,650,000 |
Foreclosed real estate | 4,252,000 | 4,890,000 |
Premises and equipment | 14,341,000 | 13,936,000 |
Accrued interest receivable | 2,342,000 | 2,244,000 |
Cash value of life insurance | 7,001,000 | 6,899,000 |
Goodwill | 6,472,000 | 6,472,000 |
Core deposit intangible | 1,332,000 | 1,406,000 |
Other assets | 2,464,000 | 3,499,000 |
Total Assets | 739,344,000 | 715,827,000 |
Deposits: | ||
Noninterest-bearing | 118,985,000 | 125,059,000 |
Interest-bearing | 538,472,000 | 512,118,000 |
Total deposits | 657,457,000 | 637,177,000 |
Accrued interest payable | 145,000 | 167,000 |
Accrued expenses and other liabilities | 3,727,000 | 3,975,000 |
Total liabilities | 661,329,000 | 641,319,000 |
EQUITY | ||
Preferred stock of $.01 par value per share Authorized 1,000,000 shares; none issued | 0 | 0 |
Common stock of $.01 par value per share Authorized 5,000,000 shares; issued 3,762,933 shares; outstanding 3,337,612 shares (3,338,603 in 2015) | 38,000 | 38,000 |
Additional paid-in capital | 39,515,000 | 39,515,000 |
Retained earnings-substantially restricted | 44,954,000 | 42,991,000 |
Unearned stock compensation | (343,000) | (382,000) |
Accumulated other comprehensive income | 2,041,000 | 497,000 |
Less treasury stock, at cost -425,321 shares (424,330 in 2015) | (8,295,000) | (8,263,000) |
Total First Capital, Inc. stockholders' equity | 77,910,000 | 74,396,000 |
Noncontrolling interest in subsidiary | 105,000 | 112,000 |
Total equity | 78,015,000 | 74,508,000 |
Total Liabilities and Equity | $ 739,344,000 | $ 715,827,000 |
Consolidated Balance Sheets (U3
Consolidated Balance Sheets (Unaudited) (Parentheticals) - $ / shares | Jun. 30, 2016 | Dec. 31, 2015 |
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
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) | 5,000,000 | 5,000,000 |
Common stock, shares issued (in shares) | 3,762,933 | 3,762,933 |
Common stock, shares outstanding (in shares) | 3,337,612 | 3,338,603 |
Treasury stock, shares (in shares) | 425,321 | 424,330 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Loans, including fees | $ 5,018,000 | $ 3,963,000 | $ 10,166,000 | $ 7,893,000 |
Securities: | ||||
Taxable | 812,000 | 268,000 | 1,563,000 | 530,000 |
Tax-exempt | 296,000 | 244,000 | 583,000 | 490,000 |
Federal Home Loan Bank dividends | 17,000 | 30,000 | 33,000 | 52,000 |
Federal funds sold and interest bearing deposits with banks | 146,000 | 50,000 | 290,000 | 86,000 |
Total interest income | 6,289,000 | 4,555,000 | 12,635,000 | 9,051,000 |
INTEREST EXPENSE | ||||
Deposits | 456,000 | 239,000 | 956,000 | 482,000 |
Total interest expense | 456,000 | 239,000 | 956,000 | 482,000 |
Net interest income | 5,833,000 | 4,316,000 | 11,679,000 | 8,569,000 |
Provision for loan losses | 150,000 | 50,000 | 225,000 | 50,000 |
Net interest income after provision for loan losses | 5,683,000 | 4,266,000 | 11,454,000 | 8,519,000 |
NONINTEREST INCOME | ||||
Service charges on deposit accounts | 998,000 | 856,000 | 1,922,000 | 1,630,000 |
Commission income | 69,000 | 85,000 | 194,000 | 184,000 |
Gain on sale of securities | 176,000 | 0 | 176,000 | 0 |
Gain on sale of loans | 268,000 | 178,000 | 518,000 | 486,000 |
Mortgage brokerage fees | 0 | 33,000 | 0 | 46,000 |
Increase in cash surrender value of life insurance | 68,000 | 34,000 | 103,000 | 67,000 |
Other income | 36,000 | 28,000 | 70,000 | 165,000 |
Total noninterest income | 1,615,000 | 1,214,000 | 2,983,000 | 2,578,000 |
NONINTEREST EXPENSE | ||||
Compensation and benefits | 2,620,000 | 1,971,000 | 5,337,000 | 3,981,000 |
Occupancy and equipment | 347,000 | 312,000 | 775,000 | 623,000 |
Data processing | 597,000 | 406,000 | 1,134,000 | 830,000 |
Professional fees | 245,000 | 380,000 | 437,000 | 581,000 |
Advertising | 83,000 | 79,000 | 175,000 | 148,000 |
Other operating expenses | 952,000 | 613,000 | 1,976,000 | 1,277,000 |
Total noninterest expense | 4,844,000 | 3,761,000 | 9,834,000 | 7,440,000 |
Income before income taxes | 2,454,000 | 1,719,000 | 4,603,000 | 3,657,000 |
Income tax expense | 667,000 | 487,000 | 1,231,000 | 956,000 |
Net Income | 1,787,000 | 1,232,000 | 3,372,000 | 2,701,000 |
Less: net income attributable to noncontrolling interest in subsidiary | 4,000 | 4,000 | 7,000 | 7,000 |
Net Income Attributable to First Capital, Inc. | $ 1,783,000 | $ 1,228,000 | $ 3,365,000 | $ 2,694,000 |
Earnings per common share attributable to First Capital, Inc. | ||||
Basic (in dollars per share) | $ 0.53 | $ 0.45 | $ 1.01 | $ 0.98 |
Diluted (in dollars per share) | 0.53 | 0.45 | 1.01 | 0.98 |
Dividends per share (in dollars per share) | $ 0.21 | $ 0.21 | $ 0.42 | $ 0.42 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Net income | $ 1,787,000 | $ 1,232,000 | $ 3,372,000 | $ 2,701,000 |
Unrealized gains (losses) on securities available for sale: | ||||
Unrealized holding gains (losses) arising during the period | 1,641,000 | (1,073,000) | 2,719,000 | (637,000) |
Income tax (expense) benefit | (639,000) | 418,000 | (1,059,000) | 248,000 |
Net of tax amount | 1,002,000 | (655,000) | 1,660,000 | (389,000) |
Less:reclassification adjustment for realized gains included in net income | (176,000) | 0 | (176,000) | 0 |
Income tax expense | 60,000 | 0 | 60,000 | 0 |
Net of tax amount | (116,000) | 0 | (116,000) | 0 |
Other Comprehensive Income (Loss), net of tax | 886,000 | (655,000) | 1,544,000 | (389,000) |
Comprehensive Income | 2,673,000 | 577,000 | 4,916,000 | 2,312,000 |
Less:comprehensive income attributable to the noncontrolling interest in subsidiary | 4,000 | 4,000 | 7,000 | 7,000 |
Comprehensive Income Attributable to First Capital, Inc. | $ 2,669,000 | $ 573,000 | $ 4,909,000 | $ 2,305,000 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Deferred Compensation, Share-based Payments [Member] | Treasury Stock [Member] | Noncontrolling Interest [Member] | Total |
Balances at Dec. 31, 2014 | $ 32,000 | $ 24,313,000 | $ 40,229,000 | $ 0 | $ 800,000 | $ (8,253,000) | $ 112,000 | $ 57,233,000 |
Net income | 0 | 0 | 2,694,000 | 0 | 0 | 0 | 7,000 | 2,701,000 |
Other comprehensive income (loss) | 0 | 0 | 0 | 0 | (389,000) | 0 | 0 | (389,000) |
Cash dividends | 0 | 0 | (1,155,000) | 0 | 0 | 0 | (14,000) | (1,169,000) |
Restricted stock grants, net of forfeitures | 0 | 453,000 | 0 | (453,000) | 0 | 0 | 0 | 0 |
Stock compensation expense | 0 | 0 | 0 | 38,000 | 0 | 0 | 0 | 38,000 |
Balances at Jun. 30, 2015 | 32,000 | 24,766,000 | 41,768,000 | (415,000) | 411,000 | (8,253,000) | 105,000 | 58,414,000 |
Balances at Dec. 31, 2015 | 38,000 | 39,515,000 | 42,991,000 | (382,000) | 497,000 | (8,263,000) | 112,000 | 74,508,000 |
Net income | 0 | 0 | 3,365,000 | 0 | 0 | 0 | 7,000 | 3,372,000 |
Other comprehensive income (loss) | 0 | 0 | 0 | 0 | 1,544,000 | 0 | 0 | 1,544,000 |
Cash dividends | 0 | 0 | (1,402,000) | 0 | 0 | 0 | (14,000) | (1,416,000) |
Stock compensation expense | 0 | 0 | 0 | 39,000 | 0 | 0 | 0 | 39,000 |
Balances at Jun. 30, 2016 | 38,000 | 39,515,000 | 44,954,000 | (343,000) | 2,041,000 | (8,295,000) | 105,000 | 78,015,000 |
Purchase of treasury shares | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ (32,000) | $ 0 | $ (32,000) |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 6 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | |
Net income | $ 3,372,000 | $ 2,701,000 |
Adjustments to reconcile net income to net cash and cash equivalents provided by operating activities: | ||
Amortization of premiums and accretion of discounts on securities, net | 472,000 | 349,000 |
Depreciation and amortization expense | 579,000 | 349,000 |
Deferred income taxes | 162,000 | 263,000 |
Stock compensation expense | 39,000 | 38,000 |
Increase in cash value of life insurance | (103,000) | (67,000) |
Gain on life insurance | 0 | (110,000) |
Gain on sale of securities | (176,000) | 0 |
Provision for loan losses | 225,000 | 50,000 |
Proceeds from sales of loans | 22,858,000 | 16,586,000 |
Loans originated for sale | (20,450,000) | (16,165,000) |
Gain on sale of loans | (518,000) | (486,000) |
Decrease (increase) in accrued interest receivable | (98,000) | 42,000 |
Decrease in accrued interest payable | (22,000) | (33,000) |
Net change in other assets/liabilities | (312,000) | (735,000) |
Net Cash Provided By Operating Activities | 6,028,000 | 2,782,000 |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Investment in interest-bearing time deposits | (495,000) | (1,490,000) |
Proceeds from maturities and sales of interest-bearing time deposits | 1,115,000 | 245,000 |
Purchase of securities available for sale | (138,801,000) | (15,366,000) |
Proceeds from maturities of securities available for sale | 66,150,000 | 10,264,000 |
Proceeds from sales of securities available for sale | 4,583,000 | 0 |
Principal collected on mortgage-backed obligations | 7,402,000 | 6,016,000 |
Net (increase) decrease in loans receivable | (3,345,000) | 1,125,000 |
Proceeds from redemption of Federal Home Loan Bank stock | 0 | 691,000 |
Proceeds from sale of foreclosed real estate | 795,000 | 74,000 |
Purchase of premises and equipment | (910,000) | (379,000) |
Net Cash Provided By (Used In) Investing Activities | (63,506,000) | 1,180,000 |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Net increase in deposits | 20,280,000 | 3,611,000 |
Purchase of treasury stock | (32,000) | 0 |
Dividends paid | (1,416,000) | (1,169,000) |
Net Cash Provided By Financing Activities | 18,832,000 | 2,442,000 |
Net Increase (Decrease) in Cash and Cash Equivalents | (38,646,000) | 6,404,000 |
Cash and cash equivalents at beginning of period | 109,174,000 | 33,243,000 |
Cash and Cash Equivalents at End of Period | $ 70,528,000 | $ 39,647,000 |
Note 1 - Presentation of Interi
Note 1 - Presentation of Interim Information | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | 1. Presentation of Interim Information First Capital, Inc. (“Company”) is the savings and loan holding company for First Harrison Bank (“Bank”). The information presented in this report relates primarily to the Bank's operations. First Harrison Investments, Inc. and First Harrison Holdings, Inc. are wholly-owned Nevada corporate subsidiaries of the Bank that jointly own First Harrison, LLC, a Nevada limited liability corporation that holds and manages an investment portfolio. First Harrison REIT, Inc. (“REIT”) was incorporated as a wholly-owned subsidiary of First Harrison Holdings, Inc. to hold a portion of the Bank’s real estate mortgage loan portfolio. On January 21, 2009, the REIT issued 105 shares of 12.5% redeemable cumulative preferred stock with an aggregate liquidation value of $105,000 in a private placement offering in order to satisfy certain ownership requirements to qualify as a real estate investment trust. At June 30, 2016, this noncontrolling interest represented 0.2% ownership of the REIT. FHB Risk Mitigation Services, Inc. (“Captive”) is a wholly-owned insurance subsidiary of the Company that provides property and casualty insurance coverage to the Company, the Bank and the Bank’s subsidiaries, and reinsurance to eight other third party insurance captives for which insurance may not be currently available or economically feasible in the insurance marketplace. Heritage Hill, LLC is a wholly-owned subsidiary of the Bank that holds and manages certain foreclosed real estate properties. In the opinion of management, the unaudited consolidated financial statements include all adjustments considered necessary to present fairly the financial position as of June 30, 2016, and the results of operations for the three months and six months ended June 30, 2016 and 2015 and the cash flows for the six months ended June 30, 2016 and 2015. All of these adjustments are of a normal, recurring nature. Such adjustments are the only adjustments included in the unaudited consolidated financial statements. Interim results are not necessarily indicative of results for a full year or any other period. The accompanying unaudited consolidated financial statements and notes have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial statements and are presented as permitted by the instructions to Form 10-Q. Accordingly, they do not contain certain information included in the Company’s annual audited consolidated financial statements and related footnotes for the year ended December 31, 2015 included in the Company’s Annual Report on Form 10-K. The unaudited consolidated financial statements include the accounts of the Company and its subsidiaries. All material intercompany balances and transactions have been eliminated in consolidation. |
Note 2 - Acquisition of Peoples
Note 2 - Acquisition of Peoples Bancorp, Inc. of Bullitt County | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | 2. Acquisition of Peoples Bancorp, Inc. of Bullitt County On December 4, 2015, the Company completed its acquisition of Peoples Bancorp, Inc. of Bullitt County (“Peoples”) and its wholly owned subsidiary The Peoples Bank of Bullitt County (“Peoples Bank”), headquartered in Shepherdsville, Kentucky, pursuant to an Agreement and Plan of Merger dated June 4, 2015 (the “Merger Agreement”). Under the Merger Agreement, Peoples merged with and into the Company, with the Company as the surviving corporation, and Peoples Bank merged with and into the Bank, with the Bank as the surviving financial institution. The acquisition expanded the Company’s presence into Bullitt County, Kentucky and its overall presence in the greater Louisville, Kentucky metropolitan market. The Company expects to benefit from growth in this new market area as well as from expansion of the banking services provided to the existing customers of Peoples Bank. Cost savings are also expected for the combined bank through economies of scale and the consolidation of business operations The Company paid cash consideration of $14.7 million in the transaction and issued 580,017 shares of Company common stock, with a total fair value of $14.8 million. As part of the merger, the Company acquired foreclosed real estate with an estimated fair value of $3.75 million (the “Contingent Assets”). Under the terms of the Merger Agreement, if the Company sells the Contingent Assets within 24 months after the effective date of the merger or has entered into a written contract for the sale of the Contingent Assets which are then sold within 60 days after the expiration of that 24-month period, the Company will distribute additional cash consideration of 50% of the sale proceeds in excess of $3.75 million on a pro rata basis to the former shareholders of Peoples. Currently, there is no written contract for the sale of the Contingent Assets and no contingent consideration is anticipated. The transaction was accounted for using the acquisition method of accounting. Accordingly, the results of operations of Peoples have been included in the Company’s results of operations since the date of acquisition. Under the acquisition method of accounting, the purchase price was assigned to the assets acquired and liabilities assumed based on their estimated fair values, net of applicable income tax effects. The excess of cost over the fair value of the acquired net assets of $1.1 million was recorded as goodwill. The goodwill arising from the acquisition consisted largely of the synergies and economies of scale expected from combining the operations of the Company and Peoples. No amount of the goodwill arising in the acquisition is deductible for income tax purposes. Acquisition-related costs of approximately $214,000 and $267,000 are included in noninterest expense in the accompanying consolidated statement of income for the three and six months, respectively, ended June 30, 2015. There were no acquisition-related costs for the three or six months ended June 30, 2016. Additional information regarding the Peoples acquisition can be found in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015. |
Note 3 - Investment Securities
Note 3 - Investment Securities | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Investments in Debt and Equity Instruments, Cash and Cash Equivalents, Unrealized and Realized Gains (Losses) [Text Block] | 3. Investment Securities Debt and equity securities have been classified in the consolidated balance sheets according to management’s intent. Investment securities at June 30, 2016 and December 31, 2015 are summarized as follows: (In thousands) Amortized Gross Gross Fair June 30, 2016 Securities available for sale: Agency mortgage-backed securities $ 86,056 $ 644 $ 35 $ 86,665 Agency CMO 17,092 135 19 17,208 Other debt securities: Agency notes and bonds 86,846 192 20 87,018 Municipal obligations 52,310 2,345 2 54,653 Subtotal - debt securities 242,304 3,316 76 245,544 Mutual funds 4,060 0 0 4,060 Total securities available for sale $ 246,364 $ 3,316 $ 76 $ 249,604 Securities held to maturity: Agency mortgage-backed securities $ 3 $ 0 $ 0 $ 3 Total securities held to maturity $ 3 $ 0 $ 0 $ 3 December 31, 2015 Securities available for sale: Agency mortgage-backed securities $ 42,158 $ 123 $ 271 $ 42,010 Agency CMO 9,391 41 101 9,331 Other debt securities: Agency notes and bonds 84,797 11 355 84,453 Municipal obligations 49,527 1,372 60 50,839 Subtotal - debt securities 185,873 1,547 787 186,633 Mutual funds 118 0 0 118 Total securities available for sale $ 185,991 $ 1,547 $ 787 $ 186,751 Securities held to maturity: Agency mortgage-backed securities $ 4 $ 0 $ 0 $ 4 Total securities held to maturity $ 4 $ 0 $ 0 $ 4 Agency notes and bonds, agency mortgage-backed securities and agency collateralized mortgage obligations (CMO) include securities issued by the Government National Mortgage Association (GNMA), a U.S. government agency, and the Federal National Mortgage Association (FNMA), the Federal Home Loan Mortgage Corporation (FHLMC) and the Federal Home Loan Bank (FHLB), which are government-sponsored enterprises. The amortized cost and fair value of debt securities as of June 30, 2016, by contractual maturity, are shown below. Expected maturities of mortgage-backed securities may differ from contractual maturities because the mortgages underlying the obligations may be prepaid without penalty. Securities Available for Sale Securities Held to Maturity Amortized Fair Amortized Fair (In thousands) Due in one year or less $ 2,939 $ 2,949 $ 0 $ 0 Due after one year through five years 87,145 87,476 0 0 Due after five years through ten years 17,626 18,072 Due after ten years 31,446 33,174 0 0 139,156 141,671 0 0 Mortgage-backed securities and CMO 103,148 103,873 3 3 $ 242,304 $ 245,544 $ 3 $ 3 Information pertaining to investment securities available for sale with gross unrealized losses at June 30, 2016, aggregated by investment category and the length of time that individual investment securities have been in a continuous position, follows: Number of Fair Gross (Dollars in thousands) Continuous loss position less than twelve months: Agency notes and bonds 4 $ 18,987 $ 20 Agency CMO 2 1,736 9 Agency mortgage-backed securities 6 17,533 30 Muncipal obligations 2 930 2 Total less than twelve months 14 39,186 61 Continuous loss position more than twelve months: Agency CMO 5 2,959 10 Agency mortgage-backed securities 2 1,241 5 Total more than twelve months 7 4,200 15 Total securities available for sale 21 $ 43,386 $ 76 Management evaluates securities for other-than-temporary impairment at least quarterly, and more frequently when economic or market concerns warrant such evaluation. Consideration is given to (1) the length of time and the extent to which the fair value has been less than cost, (2) the financial condition and near-term prospects of the issuer, and (3) the intent and ability of the Company to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recover in fair value. At June 30, 2016, the U.S. government agency debt securities, including agency notes and bonds, mortgage-backed securities and CMO, and municipal obligations in a loss position had depreciated approximately 0.2% from the amortized cost basis. All of the U.S. government agency securities and municipal obligations are issued by U.S. government agencies, government-sponsored enterprises and municipal governments, or are secured by first mortgage loans and municipal project revenues. These unrealized losses related principally to current interest rates for similar types of securities. In analyzing an issuer’s financial condition, management considers whether the securities are issued by the federal government, its agencies or other governments, whether downgrades by bond rating agencies have occurred, and the results of reviews of the issuer’s financial condition. As the Company has the ability to hold the debt securities until maturity, or the foreseeable future if classified as available for sale, no declines are deemed to be other-than-temporary. While management does not anticipate any credit-related impairment losses at June 30, 2016, additional deterioration in market and economic conditions may have an adverse impact on credit quality in the future. During the three and six months ended June 30, 2016, the Company realized gross gains on sales of available for sale municipal securities of $176,000. During the three and six months ended June 30, 2015, the Company did not have any security sales. In June 2014, the Company acquired an additional 31,750 shares of common stock in another financial institution, in addition to the 100,000 shares acquired in December 2013, representing approximately 9% of the outstanding common stock of the entity, for a total investment of $711,000. The investment is accounted for using the cost method of accounting and is included in other assets in the consolidated balance sheet. The Company’s investment was sold for $856,000 in July 2016, resulting in a gain of $145,000 to be recognized in the quarter ending September 30, 2016. |
Note 4 - Loans and Allowance fo
Note 4 - Loans and Allowance for Loan Losses | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | 4. Loans and Allowance for Loan Losses The Company’s loan and allowance for loan loss policies are as follows: Loans are stated at unpaid principal balances, less net deferred loan fees and the allowance for loan losses. The Company grants real estate mortgage, commercial business and consumer loans. A substantial portion of the loan portfolio is represented by mortgage loans to customers in the Louisville, Kentucky metropolitan statistical area (MSA). The ability of the Company’s customers to honor their loan agreements is largely dependent upon the real estate and general economic conditions in this area. Loan origination and commitment fees, as well as certain direct costs of underwriting and closing loans, are deferred and amortized as a yield adjustment to interest income over the lives of the related loans using the interest method. Amortization of net deferred loan fees is discontinued when a loan is placed on nonaccrual status. The recognition of income on a loan is discontinued and previously accrued interest is reversed, when interest or principal payments become ninety (90) days past due unless, in the opinion of management, the outstanding interest remains collectible. Past due status is determined based on contractual terms. Generally, by applying the cash receipts method, interest income is subsequently recognized only as received until the loan is returned to accrual status. The cash receipts method is used when the likelihood of further loss on the loan is remote. Otherwise, the Company applies the cost recovery method and applies all payments as a reduction of the unpaid principal balance until the loan qualifies for return to accrual status. Interest income on impaired loans is recognized using the cost recovery method, unless the likelihood of further loss on the loan is remote. A loan is restored to accrual status when all principal and interest payments are brought current and the borrower has demonstrated the ability to make future payments of principal and interest as scheduled, which generally requires that the borrower demonstrate a period of performance of at least six consecutive months. For portfolio segments other than consumer loans, the Company’s practice is to charge-off any loan or portion of a loan when the loan is determined by management to be uncollectible due to the borrower’s failure to meet repayment terms, the borrower’s deteriorating or deteriorated financial condition, the depreciation of the underlying collateral, the loan’s classification as a loss by regulatory examiners, or for other reasons. A partial charge-off is recorded on a loan when the uncollectibility of a portion of the loan has been confirmed, such as when a loan is discharged in bankruptcy, the collateral is liquidated, a loan is restructured at a reduced principal balance, or other identifiable events that lead management to determine the full principal balance of the loan will not be repaid. A specific reserve is recognized as a component of the allowance for estimated losses on loans individually evaluated for impairment. Partial charge-offs on nonperforming and impaired loans are included in the Company’s historical loss experience used to estimate the general component of the allowance for loan losses as discussed below. Specific reserves are not considered charge-offs in management’s analysis of the allowance for loan losses because they are estimates and the outcome of the loan relationship is undetermined. At June 30, 2016, the Company had 11 loans on which partial charge-offs of $471,000 had been recorded. Consumer loans not secured by real estate are typically charged off at 90 days past due, or earlier if deemed uncollectible, unless the loans are in the process of collection. Overdrafts are charged off after 45 days past due. Charge-offs are typically recorded on loans secured by real estate when the property is foreclosed upon. The allowance for loan losses reflects management’s judgment of probable loan losses inherent in the loan portfolio at the balance sheet date. Additions to the allowance for loan losses are made by the provision for loan losses charged to earnings. Loan losses are charged against the allowance when management believes the uncollectibility of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance. The Company uses a disciplined process and methodology to evaluate the allowance for loan losses on at least a quarterly basis that is based upon management’s periodic review of the collectibility of the loans in light of historical experience, the nature and volume of the loan portfolio, adverse situations that may affect the borrower’s ability to repay, estimated value of any underlying collateral, and prevailing economic conditions. This evaluation is inherently subjective as it requires estimates that are susceptible to significant revision as more information becomes available. The allowance consists of specific and general components. The specific component relates to loans that are individually evaluated for impairment or loans otherwise classified as doubtful, substandard, or special mention. For such loans that are also classified as impaired, an allowance is established when the discounted cash flows (or collateral value or observable market price) of the impaired loan is lower than the carrying value of that loan. The general component covers non-classified loans and classified loans that are found, upon individual evaluation, to not be impaired. Such loans are pooled by segment and losses are modeled using annualized historical loss experience adjusted for qualitative factors. The historical loss experience is determined by portfolio segment and is based on the actual loss history experienced by the Company over the most recent twelve calendar quarters unless the historical loss experience is not considered indicative of the level of risk in the remaining balance of a particular portfolio segment, in which case an adjustment is determined by management. The Company’s historical loss experience is then adjusted by an overall loss factor weighting adjustment based on a qualitative analysis prepared by management and reviewed on a quarterly basis. The overall loss factor considers changes in underwriting standards, economic conditions, changes and trends in past due and classified loans and other internal and external factors. Management also applies additional loss factor multiples to loans classified as watch, special mention and substandard that are not individually evaluated for impairment. The loss factor multiples for classified loans are based on management’s assessment of historical trends regarding losses experienced on classified loans in prior periods. See below for additional discussion of the overall loss factor and loss factor multiples for classified loans as of June 30, 2016 and December 31, 2015. Management exercises significant judgment in evaluating the relevant historical loss experience and the qualitative factors. Management also monitors the differences between estimated and actual incurred loan losses for loans considered impaired in order to evaluate the effectiveness of the estimation process and make any changes in the methodology as necessary. Management utilizes the following portfolio segments in its analysis of the allowance for loan losses: residential real estate, land, construction, commercial real estate, commercial business, home equity and second mortgage, and other consumer loans. Additional discussion of the portfolio segments and the risks associated with each segment can be found in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015. A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. Impairment is measured on a loan-by-loan basis by either the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s obtainable market price, or the fair value of the collateral if the loan is collateral dependent. Values for collateral dependent loans are generally based on appraisals obtained from independent licensed real estate appraisers, with adjustments applied for estimated costs to sell the property, costs to complete unfinished or repair damaged property and other factors. New appraisals are generally obtained for all significant properties when a loan is identified as impaired, and a property is considered significant if the value of the property is estimated to exceed $200,000. Subsequent appraisals are obtained as needed or if management believes there has been a significant change in the market value of the property. In instances where it is not deemed necessary to obtain a new appraisal, management bases its impairment and allowance for loan loss analysis on the original appraisal with adjustments for current conditions based on management’s assessment of market factors and management’s inspection of the property. At June 30, 2016, the recorded investments in loans secured by residential real estate properties for which formal foreclosure proceedings are in process was $742,000. Loans at June 30, 2016 and December 31, 2015 consisted of the following: (In thousands) June 30, December 31, Real estate mortgage loans: Residential $ 138,445 $ 147,933 Land 12,585 12,962 Residential construction 17,357 16,391 Commercial real estate 93,508 84,493 Commercial real estate contruction 2,536 1,090 Commercial business loans 23,185 23,095 Consumer loans: Home equity and second mortgage loans 40,987 38,476 Automobile loans 31,831 28,828 Loans secured by savings accounts 1,924 2,096 Unsecured loans 3,827 4,350 Other consumer loans 7,838 7,210 Gross loans 374,023 366,924 Less undisbursed portion of loans in process (9,396 ) (4,926 ) Principal loan balance 364,627 361,998 Deferred loan origination fees, net 691 583 Allowance for loan losses (3,189 ) (3,415 ) Loans, net $ 362,129 $ 359,166 The following table provides the components of the Company’s recorded investment in loans at June 30, 2016: Residential Land Construction Commercial Commercial Home Equity & Other Total (In thousands) Recorded Investment in Loans: Principal loan balance $ 138,476 $ 12,585 $ 10,497 $ 93,477 $ 23,185 $ 40,987 $ 45,420 $ 364,627 Accrued interest receivable 499 42 31 307 71 134 184 1,268 Net deferred loan origination fees and costs 70 11 0 (37 ) (7 ) 654 0 691 Recorded investment in loans $ 139,045 $ 12,638 $ 10,528 $ 93,747 $ 23,249 $ 41,775 $ 45,604 $ 366,586 Recorded Investment in Loans as Evaluated for Impairment: Individually evaluated for impairment $ 2,185 $ 0 $ 0 $ 4,105 $ 63 $ 63 $ 30 $ 6,446 Collectively evaluated for impairment 136,383 12,638 10,528 89,349 23,186 41,712 45,574 359,370 Acquired with deteriorated credit quality 477 0 0 293 0 0 0 770 Ending balance $ 139,045 $ 12,638 $ 10,528 $ 93,747 $ 23,249 $ 41,775 $ 45,604 $ 366,586 The following table provides the components of the Company’s recorded investment in loans at December 31, 2015: Residential Land Construction Commercial Commercial Home Equity & Other Total (In thousands) Recorded Investment in Loans: Principal loan balance $ 147,933 $ 12,962 $ 12,555 $ 84,493 $ 23,095 $ 38,476 $ 42,484 $ 361,998 Accrued interest receivable 584 70 61 281 64 130 171 1,361 Net deferred loan origination fees and costs 58 6 0 (46 ) (6 ) 571 0 583 Recorded investment in loans $ 148,575 $ 13,038 $ 12,616 $ 84,728 $ 23,153 $ 39,177 $ 42,655 $ 363,942 Recorded Investment in Loans as Evaluated for Impairment: Individually evaluated for impairment $ 1,996 $ 24 $ 0 $ 3,623 $ 167 $ 136 $ 0 $ 5,946 Collectively evaluated for impairment 145,695 13,014 12,616 80,639 22,986 39,041 42,655 356,646 Acquired with deteriorated credit quality 884 0 0 466 0 0 0 1,350 Ending balance $ 148,575 $ 13,038 $ 12,616 $ 84,728 $ 23,153 $ 39,177 $ 42,655 $ 363,942 An analysis of the allowance for loan losses as of June 30, 2016 is as follows: Residential Land Construction Commercial Commercial Home Equity & Other Total (In thousands) Ending allowance balance attributable to loans: Individually evaluated for impairment $ 20 $ 0 $ 0 $ 0 $ 0 $ 13 $ 6 $ 39 Collectively evaluated for impairment 382 47 42 1,473 162 778 260 3,144 Acquired with deteriorated credit quality 6 0 0 0 0 0 0 6 Ending balance $ 408 $ 47 $ 42 $ 1,473 $ 162 $ 791 $ 266 $ 3,189 An analysis of the allowance for loan losses as of December 31, 2015 is as follows: Residential Land Construction Commercial Commercial Home Equity & Other Total (In thousands) Ending allowance balance attributable to loans: Individually evaluated for impairment $ 6 $ 0 $ 0 $ 49 $ 100 $ 11 $ 0 $ 166 Collectively evaluated for impairment 521 157 47 1,492 161 615 256 3,249 Acquired with deteriorated credit quality 0 0 0 0 0 0 0 0 Ending balance $ 527 $ 157 $ 47 $ 1,541 $ 261 $ 626 $ 256 $ 3,415 An analysis of the changes in the allowance for loan losses for the three months and six months ended June 30, 2016 is as follows: Residential Land Construction Commercial Commercial Home Equity & Other Total (In thousands) Allowance for loan losses: Changes in Allowance for Loan Losses for the three-months ended June 30, 2016 Beginning balance $ 470 $ 84 $ 45 $ 1,468 $ 273 $ 721 $ 258 $ 3,319 Provisions for loan losses (13 ) (37 ) (3 ) 73 (13 ) 66 77 150 Charge-offs (54 ) 0 0 (82 ) (100 ) 0 (95 ) (331 ) Recoveries 5 0 0 14 2 4 26 51 Ending balance $ 408 $ 47 $ 42 $ 1,473 $ 162 $ 791 $ 266 $ 3,189 Changes in Allowance for Loan Losses for the six-months ended June 30, 2016 Beginning balance $ 527 $ 157 $ 47 $ 1,541 $ 261 $ 626 $ 256 $ 3,415 Provisions for loan losses (42 ) (101 ) (5 ) (4 ) 12 192 173 225 Charge-offs (94 ) (9 ) 0 (82 ) (114 ) (36 ) (220 ) (555 ) Recoveries 17 0 0 18 3 9 57 104 Ending balance $ 408 $ 47 $ 42 $ 1,473 $ 162 $ 791 $ 266 $ 3,189 An analysis of the changes in the allowance for loan losses for the three months and six months ended June 30, 2015 is as follows: Residential Land Construction Commercial Commercial Home Equity & Other Total (In thousands) Allowance for loan losses: Changes in Allowance for Loan Losses for the three-months ended June 30, 2015 Beginning balance $ 672 $ 197 $ 65 $ 1,462 $ 239 $ 716 $ 283 $ 3,634 Provisions for loan losses (39 ) (24 ) (14 ) 204 (58 ) (38 ) 19 50 Charge-offs 0 0 0 0 (22 ) (31 ) (72 ) (125 ) Recoveries 1 0 0 3 2 1 34 41 Ending balance $ 634 $ 173 $ 51 $ 1,669 $ 161 $ 648 $ 264 $ 3,600 Changes in Allowance for Loan Losses for the six-months ended June 30, 2015 Beginning balance $ 609 $ 201 $ 60 $ 1,501 $ 1,480 $ 720 $ 275 $ 4,846 Provisions for loan losses 42 (28 ) (9 ) 156 (117 ) (45 ) 51 50 Charge-offs (20 ) 0 0 0 (1,205 ) (33 ) (124 ) (1,382 ) Recoveries 3 0 0 12 3 6 62 86 Ending balance $ 634 $ 173 $ 51 $ 1,669 $ 161 $ 648 $ 264 $ 3,600 At June 30, 2016 and December 31, 2015, management applied specific qualitative factor adjustments to the residential real estate, construction, commercial real estate, commercial business, land, and home equity and second mortgage portfolio segments as they determined that the historical loss experience was not indicative of the level of risk in the remaining balance of those portfolio segments. These adjustments increased the loss factors by 0.25% to 20% for certain loan groups, and increased the estimated allowance for loan losses related to those portfolio segments by approximately $1.3 million and $1.4 million at June 30, 2016 and December 31, 2015, respectively. These changes were made to reflect management’s estimates of inherent losses in these portfolio segments at June 30, 2016 and December 31, 2015. At June 30, 2016 and December 31, 2015, for each loan portfolio segment, management applied an overall qualitative factor of 1.18 to the Company’s historical loss factors. The overall qualitative factor is derived from management’s analysis of changes and trends in the following qualitative factors: underwriting standards, economic conditions, past due loans and other internal and external factors. Each of the four factors above was assigned an equal weight to arrive at an average for the overall qualitative factor of 1.18 at June 30, 2016 and December 31, 2015, respectively. The effect of the overall qualitative factor was to increase the estimated allowance for loan losses by $499,000 and $457,000 at June 30, 2016 and December 31, 2015, respectively. Additional discussion of the overall qualitative factor can be found in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015. There were no changes in management’s assessment of the overall qualitative factor components from December 31, 2015 to June 30, 2016. Management also adjusts the historical loss factors for loans classified as watch, special mention and substandard that are not individually evaluated for impairment. The adjustments consider the increased likelihood of loss on classified loans based on the Company’s separate historical experience for classified loans. The effect of the adjustments for classified loans was to increase the estimated allowance for loan losses by $630,000 and $410,000 at June 30, 2016 and December 31, 2015, respectively. During the period from December 31, 2015 to June 30, 2016, management adjusted these factors to compensate for the acquisition of the Peoples loan portfolio. The following table summarizes the Company’s impaired loans as of June 30, 2016 and for the three months and six months ended June 30, 2016. The Company did not recognize any interest income on impaired loans using the cash receipts method of accounting for the three or six month periods ended June 30, 2016: At June 30, 2016 Three Months Ended June 30, 2016 Six Months Ended June 30, 2016 Recorded Unpaid Related Average Interest Average Interest (In thousands) Loans with no related allowance recorded: Residential $ 2,044 $ 2,395 $ 0 $ 1,898 $ 8 $ 1,911 $ 14 Land 0 0 0 0 0 8 0 Construction 0 0 0 0 0 0 0 Commercial real estate 4,075 4,432 0 3,602 18 3,531 37 Commercial business 63 66 0 63 0 64 0 Home equity/2nd mortgage 50 58 0 53 1 54 1 Other consumer 10 28 0 5 0 3 0 6,242 6,979 0 5,621 27 5,571 52 Loans with an allowance recorded: Residential 141 148 20 176 0 136 0 Land 0 0 0 0 0 0 0 Construction 0 0 0 0 0 0 0 Commercial real estate 30 58 0 131 0 165 0 Commercial business 0 0 0 50 0 67 0 Home equity/2nd mortgage 13 14 13 14 0 36 0 Other consumer 20 20 6 34 0 23 0 204 240 39 405 0 427 0 Total: Residential 2,185 2,543 20 2,074 8 2,047 14 Land 0 0 0 0 0 8 0 Construction 0 0 0 0 0 0 0 Commercial real estate 4,105 4,490 0 3,733 18 3,696 37 Commercial business 63 66 0 113 0 131 0 Home equity/2nd mortgage 63 72 13 67 1 90 1 Other consumer 30 48 6 39 0 26 0 $ 6,446 $ 7,219 $ 39 $ 6,026 $ 27 $ 5,998 $ 52 The following table summarizes the Company’s impaired loans for the three months and six months ended June 30, 2015. The Company did not recognize any interest income on impaired loans using the cash receipts method of accounting for the three or six month periods ended June 30, 2015: Three Months Ended June 30, 2015 Six Months Ended June 30, 2015 Average Interest Average Interest Loans with no related allowance recorded: Residential $ 1,235 $ 5 $ 1,204 $ 10 Land 20 0 18 0 Construction 0 0 0 0 Commercial real estate 1,773 19 1,774 38 Commercial business 13 0 9 0 Home equity/2nd mortgage 65 0 67 1 Other consumer 0 0 0 0 3,106 24 3,072 49 Loans with an allowance recorded: Residential 254 0 259 0 Land 0 0 0 0 Construction 0 0 0 0 Commercial real estate 39 0 40 0 Commercial business 18 0 559 0 Home equity/2nd mortgage 80 0 80 0 Other consumer 0 0 0 0 391 0 938 0 Total: Residential 1,489 5 1,463 10 Land 20 0 18 0 Construction 0 0 0 0 Commercial real estate 1,812 19 1,814 38 Commercial business 31 0 568 0 Home equity/2nd mortgage 145 0 147 1 Other consumer 0 0 0 0 $ 3,497 $ 24 $ 4,010 $ 49 The following table summarizes the Company’s impaired loans as of December 31, 2015: Recorded Unpaid Related (In thousands) Loans with no related allowance recorded: Residential $ 1,938 $ 2,330 $ 0 Land 24 27 0 Construction 0 0 0 Commercial real estate 3,389 3,706 0 Commercial business 67 67 0 Home equity/2nd mortgage 56 65 0 Other consumer 0 0 0 5,474 6,195 0 Loans with an allowance recorded: Residential 58 62 6 Land 0 0 0 Construction 0 0 0 Commercial real estate 234 260 49 Commercial business 100 100 100 Home equity/2nd mortgage 80 81 11 Other consumer 0 0 0 472 503 166 Total: Residential 1,996 2,392 6 Land 24 27 0 Construction 0 0 0 Commercial real estate 3,623 3,966 49 Commercial business 167 167 100 Home equity/2nd mortgage 136 146 11 Other consumer 0 0 0 $ 5,946 $ 6,698 $ 166 Nonperforming loans consists of nonaccrual loans and loans over 90 days past due and still accruing interest. The following table presents the recorded investment in nonperforming loans at June 30, 2016 and December 31, 2015: June 30, 2016 December 31, 2015 Nonaccrual Loans 90+ Days Total Nonaccrual Loans 90+ Days Total (In thousands) Residential $ 1,733 $ 109 $ 1,842 $ 1,648 $ 271 $ 1,919 Land 0 0 0 24 75 99 Construction 0 0 0 0 0 0 Commercial real estate 1,741 0 1,741 2,267 0 2,267 Commercial business 63 0 63 167 0 167 Home equity/2nd mortgage 44 12 56 116 0 116 Other consumer 30 2 32 0 9 9 Total $ 3,611 $ 123 $ 3,734 $ 4,222 $ 355 $ 4,577 The following table presents the aging of the recorded investment in loans at June 30, 2016: 30-59 Days 60-89 Days 90 Days or More Total Current Purchased Total (In thousands) Residential $ 3,176 $ 489 $ 975 $ 4,640 $ 133,928 $ 477 $ 139,045 Land 132 0 0 132 12,506 0 12,638 Construction 0 0 0 0 10,528 0 10,528 Commercial real estate 23 0 730 753 92,701 293 93,747 Commercial business 82 0 0 82 23,167 0 23,249 Home equity/2nd mortgage 262 0 12 274 41,501 0 41,775 Other consumer 231 23 32 286 45,318 0 45,604 Total $ 3,906 $ 512 $ 1,749 $ 6,167 $ 359,649 $ 770 $ 366,586 The following table presents the aging of the recorded investment in loans at December 31, 2015: 30-59 Days 60-89 Days 90 Days or More Total Current Purchased Total (In thousands) Residential $ 3,078 $ 786 $ 1,256 $ 5,120 $ 142,571 $ 884 $ 148,575 Land 55 26 99 180 12,858 0 13,038 Construction 71 0 0 71 12,545 0 12,616 Commercial real estate 435 773 396 1,604 82,658 466 84,728 Commercial business 0 100 67 167 22,986 0 23,153 Home equity/2nd mortgage 365 6 80 451 38,726 0 39,177 Other consumer 464 13 9 486 42,169 0 42,655 Total $ 4,468 $ 1,704 $ 1,907 $ 8,079 $ 354,513 $ 1,350 $ 363,942 The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, public information, historical payment experience, credit documentation, and current economic trends, among other factors. The Company classifies loans based on credit risk at least quarterly. The Company uses the following regulatory definitions for risk ratings: Special Mention: Substandard: Doubtful: Loss: Loans not meeting the criteria above that are analyzed individually as part of the described process are considered to be pass rated loans. The following table presents the recorded investment in loans by risk category as of the date indicated: Residential Land Construction Commercial Commercial Home Equity & Other Total (In thousands) June 30, 2016 Pass $ 134,210 $ 12,445 $ 10,120 $ 81,437 $ 22,376 $ 41,557 $ 45,525 $ 347,670 Special Mention 1,368 121 408 4,325 810 159 49 7,240 Substandard 1,359 72 0 5,079 0 15 0 6,525 Doubtful 2,108 0 0 2,906 63 44 30 5,151 Loss 0 0 0 0 0 0 0 0 Total $ 139,045 $ 12,638 $ 10,528 $ 93,747 $ 23,249 $ 41,775 $ 45,604 $ 366,586 December 31, 2015 Pass $ 140,438 $ 10,077 $ 12,286 $ 76,389 $ 22,365 $ 38,956 $ 42,553 $ 343,064 Special Mention 3,657 125 330 4,446 471 0 53 9,082 Substandard 1,948 2,812 0 1,195 150 105 49 6,259 Doubtful 2,532 24 0 2,698 167 116 0 5,537 Loss 0 0 0 0 0 0 0 0 Total $ 148,575 $ 13,038 $ 12,616 $ 84,728 $ 23,153 $ 39,177 $ 42,655 $ 363,942 The following table summarizes the Company’s troubled debt restructurings (TDRs) by accrual status as of June 30, 2016 and December 31, 2015: June 30, 2016 December 31, 2015 Accruing Nonaccrual Total Related Allowance Accruing Nonaccrual Total Related Allowance (In thousands) Troubled debt restructurings: Residential real estate $ 338 $ 328 $ 666 $ 0 $ 342 $ 315 $ 657 $ 0 Commercial real estate 1,327 249 1,576 0 1,348 294 1,642 0 Home equity and 2nd mortgage 19 0 19 0 20 0 20 0 Total $ 1,684 $ 577 $ 2,261 $ 0 $ 1,710 $ 609 $ 2,319 $ 0 At June 30, 2016 and December 31, 2015, there were no commitments to lend additional funds to debtors whose loan terms have been modified in a TDR. There were no TDRs that were restructured during either the three and six months ended June 30, 2016 or June 30, 2015. There were no principal charge-offs recorded as a result of TDRs and there was no specific allowance for loan losses related to TDRs modified during the three and six months ended June 30, 2016 or June 30, 2015. There were no TDRs modified within the previous 12 months for which there was a subsequent payment default (defined as the loan becoming more than 90 days past due, being moved to nonaccrual status, or the collateral being foreclosed upon) during the three and six months ended June 30, 2016 and 2015. In the event that a TDR subsequently defaults, the Company evaluates the restructuring for possible impairment. As a result, the related allowance for loan losses may be increased or charge-offs may be taken to reduce the carrying amount of the loan. Purchased Credit Impaired (PCI) Loans Purchased loans acquired in a business combination are recorded at estimated fair value on their purchase date with no carryover of the related allowance for loan and lease losses. Such loans are accounted for individually or aggregated into pools of loans based on common risk characteristics such as credit score, loan type and date of origination. In determining the estimated fair value of purchased loans or pools, management considers a number of factors including the remaining life, estimated prepayments, estimated loss ratios, estimated value of the underlying collateral, and net present value of cash flows expected to be received, among others. Purchased loans that have evidence of credit deterioration since origination for which it is deemed probable at the date of acquisition that the acquirer will not collect all contractually required principal and interest payments are accounted for in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 310-30. The difference between contractually required payments and the cash flows expected to be collected at acquisition is referred to as the nonaccretable difference. The difference between the expected cash flows and the fair value at acquisition is recorded as interest income over the remaining life of the loan or pool of loans and is referred to as the accretable yield. Subsequent decreases to the expected cash flows will generally result in a provision for loan losses. Subsequent increases in expected cash flows will result in a reversal of the provision for loan losses to the extent of prior charges and then an adjustment to accretable yield, which is recognized as future interest income. The following table presents the carrying amount of PCI loans accounted for under ASC 310-30 at June 30, 2016 and December 31, 2015: (In thousands) June 30, December 31, Residential real estate $ 477 $ 884 Commercial real estate 293 466 Carrying amount 770 1,350 Allowance for loan losses (6 ) - Carrying amount, net of allowance $ 764 $ 1,350 The outstanding balance of PCI loans accounted for under ASC 310-30, including contractual principal, interest, fees and penalties was $951,000 and $1.6 million at June 30, 2016 and December 31, 2015, respectively. The allowance for loan losses related to PCI loans was $6,000 at June 30, 2016. There was no allowance for loan losses related to PCI loans at December 31, 2015. Provisions for loan losses of $6,000 related to PCI loans were recognized for the six-month period ended June 30, 2016. There were no provisions for loan loss related to PCI loans for the three months ended June 30, 2016 nor for the three and six months ended June 30, 2015. There were no reductions of the allowance for loan losses on PCI loans for the three and six months ended June 30, 2016 and 2015. Accretable yield, or income expected to be collected, is as follows for the three and six month periods ended June 30, 2016: (In thousands) Three Months Six Months Balance at beginning of period $ 145 $ 319 New loans purchased - - Accretion to income (19 ) (44 ) Disposals and other adjustments (21 ) (74 ) Reclassification (to) from nonaccretable difference 60 (36 ) Balance at end of period $ 165 $ 165 |
Note 5 - Supplemental Disclosur
Note 5 - Supplemental Disclosure for Earnings Per Share | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 5. Supplemental Disclosure for Earnings Per Share Three Months Ended Six Months Ended 6/30/2016 6/30/2015 6/30/2016 6/30/2015 Basic (Dollars in thousands, except for share and per share data) Earnings: Net income attributable to First Capital, Inc. $ 1,783 $ 1,228 $ 3,365 $ 2,694 Shares: Weighted average common shares outstanding 3,339,063 2,740,689 3,339,082 2,740,596 Net income attributable to First Capital, Inc. per common share, basic $ 0.53 $ 0.45 $ 1.01 $ 0.98 Diluted Earnings: Net income attributable to First Capital, Inc. $ 1,783 $ 1,228 $ 3,365 $ 2,694 Shares: Weighted average common shares outstanding 3,339,063 2,740,689 3,339,082 2,740,596 Add: Dilutive effect of restricted stock 2,244 506 1,536 156 Weighted average common shares outstanding, as adjusted 3,341,307 2,741,195 3,340,618 2,740,752 Net income attributable to First Capital, Inc. per common share, diluted $ 0.53 $ 0.45 $ 1.01 $ 0.98 Nonvested restricted stock shares are not considered as outstanding for purposes of computing weighted average common shares outstanding. |
Note 6 - Stock Option Plan
Note 6 - Stock Option Plan | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | 6. Stock Option Plan On May 20, 2009, the Company adopted the 2009 Equity Incentive Plan (the Plan). The Plan provides for the award of stock options, restricted stock, performance shares and stock appreciation rights. The aggregate number of shares of the Company’s common stock available for issuance under the Plan may not exceed 223,000 shares. The Company may grant both non-statutory and statutory stock options which may not have a term exceeding ten years. In the case of incentive stock options, the aggregate fair value of the stock (determined at the time the incentive stock option is granted) for which any optionee may be granted incentive options which are first exercisable during any calendar year shall not exceed $100,000. Option prices may not be less than the fair market value of the underlying stock at the date of the grant. An award of a performance share is a grant of a right to receive shares of the Company’s common stock which is contingent upon the achievement of specific performance criteria or other objectives set at the grant date. Stock appreciation rights are equity or cash settled share-based compensation arrangements whereby the number of shares that will ultimately be issued or the cash payment is based upon the appreciation of the Company’s common stock. Awards granted under the Plan may be granted either alone, in addition to, or in tandem with, any other award granted under the Plan. The fair market value of stock options granted is estimated at the date of grant using an option pricing model. Expected volatilities are based on historical volatility of the Company's stock. The expected term of options granted represents the period of time that options are expected to be outstanding and is based on historical trends. The risk free rate for the expected life of the options is based on the U.S. Treasury yield curve in effect at the time of grant. As of June 30, 2016, no stock options had been granted under the Plan. On February 17, 2015, the Company granted 19,500 restricted stock shares to directors, officers and key employees at a grant-date price of $24.50 per share for a total of $478,000. The restricted stock vests ratably from the grant date through July 1, 2020, with 20% of the shares vesting each year on July 1 beginning July 1, 2016. Compensation expense is measured based on the fair market value of the restricted stock at the grant date and is recognized ratably over the period during which the shares are earned (the vesting period). Compensation expense related to restricted stock recognized for the three-month and six-month periods ended June 30, 2016 amounted to $19,000 and $39,000, respectively. A summary of the Company’s nonvested restricted shares under the Plan as of June 30, 2016 and changes during the six-month period then ended is presented below. Number Weighted Nonvested at January 1, 2016 18,000 $ 24.50 Granted - - Vested 500 $ 24.50 Forfeited - - Nonvested at June 30, 2016 17,500 $ 24.50 Upon the retirement of a director, 500 restricted shares vested during the six-month period ended June 30, 2016. The total fair value of restricted shares that vested during the six-month period ended June 30, 2016 was $16,000. At June 30, 2016, there was $343,000 of total unrecognized compensation expense related to nonvested restricted shares. The compensation expense is expected to be recognized over the remaining vesting period of 4.0 years. |
Note 7 - Supplemental Disclosur
Note 7 - Supplemental Disclosures of Cash Flow Information | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Cash Flow, Supplemental Disclosures [Text Block] | 7. Supplemental Disclosures of Cash Flow Information Six Months Ended 2016 2015 ( In thousands ) Cash payments for: Interest $ 978 $ 516 Taxes (net of refunds received) 54 1,035 Noncash investing activities: Transfers from loans to real estate acquired through foreclosure 446 562 |
Note 8 - Fair Value Measurement
Note 8 - Fair Value Measurements | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 8. Fair Value Measurements FASB ASC Topic 820 , Fair Value Measurements, Level 1: Inputs to the valuation methodology are quoted prices, unadjusted, for identical assets or liabilities in active markets Level 2: Inputs to the valuation methodology include quoted market prices for similar assets or liabilities in active markets; quoted market prices for identical or similar assets or liabilities in markets that are not active; or inputs that are derived principally from or can be corroborated by observable market data by correlation or other means. Level 3: Inputs to the valuation methodology are unobservable and significant to the fair value measurement. Level 3 assets and liabilities include financial instruments whose value is determined using discounted cash flow methodologies, as well as instruments for which the determination of fair value requires significant management judgment or estimation. A description of the valuation methodologies used for instruments measured at fair value, as well as the general classification of such instruments pursuant to the valuation hierarchy, is set forth on the following page. These valuation methodologies were applied to all of the Company’s financial and nonfinancial assets carried at fair value or the lower of cost or fair value. The table below presents the balances of assets measured at fair value on a recurring and nonrecurring basis as of June 30, 2016 and December 31, 2015. The Company had no liabilities measured at fair value as of June 30, 2016 or December 31, 2015. Carrying Value (In thousands) Level 1 Level 2 Level 3 Total June 30, 2016 Assets Measured on a Recurring Basis Securities available for sale: Agency mortgage-backed securities $ 0 $ 86,665 $ 0 $ 86,665 Agency CMO 0 17,208 0 17,208 Agency notes and bonds 0 87,018 0 87,018 Municipal obligations 0 54,653 0 54,653 Mutual funds 4,060 0 0 4,060 Total securities available for sale $ 4,060 $ 245,544 $ 0 $ 249,604 Assets Measured on a Nonrecurring Basis Impaired loans: Residential real estate $ 0 $ 0 $ 2,165 $ 2,165 Commercial real estate 0 0 4,105 4,105 Commercial business 0 0 63 63 Home equity and second mortgage 0 0 50 50 Other consumer 0 0 24 24 Total impaired loans $ 0 $ 0 $ 6,407 $ 6,407 Loans held for sale $ 0 $ 1,191 $ 0 $ 1,191 Foreclosed real estate: Residential real estate $ 0 $ 0 $ 582 $ 582 Commercial real estate 0 0 3,670 3,670 Total foreclosed real estate $ 0 $ 0 $ 4,252 $ 4,252 December 31, 2015 Assets Measured on a Recurring Basis Securities available for sale: Agency mortgage-backed securities $ 0 $ 42,010 $ 0 $ 42,010 Agency CMO 0 9,331 0 9,331 Agency notes and bonds 0 84,453 0 84,453 Municipal obligations 0 50,839 0 50,839 Mutual funds 118 0 0 118 Total securities available for sale $ 118 $ 186,633 $ 0 $ 186,751 Assets Measured on a Nonrecurring Basis Impaired loans: Residential real estate $ 0 $ 0 $ 1,990 $ 1,990 Land 0 0 24 24 Commercial real estate 0 0 3,574 3,574 Commercial business 0 0 67 67 Home equity and second mortgage 0 0 125 125 Total impaired loans $ 0 $ 0 $ 5,780 $ 5,780 Loans held for sale $ 0 $ 3,081 $ 0 $ 3,081 Foreclosed real estate: Residential real estate $ 0 $ 0 $ 557 $ 557 Land 0 0 203 203 Commercial real estate 0 0 4,130 4,130 Total foreclosed real estate $ 0 $ 0 $ 4,890 $ 4,890 Fair value is based upon quoted market prices, where available. If quoted market prices are not available, fair value is based on internally developed models or obtained from third parties that primarily use, as inputs, observable market-based parameters or a matrix pricing model that employs the Bond Market Association’s standard calculations for cash flow and price/yield analysis and observable market-based parameters. Valuation adjustments may be made to ensure that financial instruments are recorded at fair value, or the lower of cost or fair value. These adjustments may include unobservable parameters. Any such valuation adjustments have been applied consistently over time. The Company’s valuation methodologies may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. While management believes the Company’s valuation methodologies are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different estimate of fair value at the reporting date. Securities Available for Sale . Impaired Loans Impaired loans are carried at the present value of estimated future cash flows using the loan's effective interest rate or the fair value of collateral less estimated costs to sell if the loan is collateral dependent. At June 30, 2016 and December 31, 2015, all impaired loans were considered to be collateral dependent for the purpose of determining fair value. Collateral may be real estate and/or business assets, including equipment, inventory and/or accounts receivable. The fair value of the collateral is generally determined based on real estate appraisals or other independent evaluations by qualified professionals, adjusted for estimated costs to sell the property, costs to complete or repair the property and other factors to reflect management’s estimate of the fair value of the collateral given the current market conditions and the condition of the collateral. At June 30, 2016, the significant unobservable inputs used in the fair value measurement of impaired loans included a discount from appraised value for estimates of changes in market conditions, the condition of the collateral and estimated costs to sell the collateral ranging from 30% to 60%, with a weighted average discount of 48%. At December 31, 2015, the discount from appraised value ranged from 10% to 59%, with a weighted average discount of 16%. The Company recognized provisions for loan losses of $106,000 and $82,000 for the six months ended June 30, 2016 and 2015, respectively, for impaired loans. The Company recognized provisions for loan losses of $47,000 for the three months ended June 30, 2015 for impaired loans. The Company did not recognize any provisions for loan losses for impaired loans for the three months ended June 30, 2016. Loans Held for Sale Foreclosed Real Estate Foreclosed real estate is reported at fair value less estimated costs to dispose of the property. The fair values are determined by real estate appraisals which are then discounted to reflect management’s estimate of the fair value of the property given current market conditions and the condition of the collateral. At June 30, 2016, the significant unobservable inputs used in the fair value measurement of foreclosed real estate included a discount from appraised value for estimates of changes in market conditions, the condition of the collateral and estimated costs to sell the property ranging from 0% to 42%, with a weighted average of 39%. At December 31, 2015, the discount from appraised value ranged from 9% to 43%, with a weighted average of 30%. The Company recognized losses of $83,000 to write down foreclosed real estate for the three months and six months ended June 30, 2016. There were no charges to write down foreclosed real estate recognized in income for the three months and six months ended June 30, 2015. There have been no changes in the valuation techniques and related inputs used for assets measured at fair value on a recurring and nonrecurring basis during the six month periods ended June 30, 2016 and 2015. There were no transfers into or out of the Company’s Level 3 financial assets for the six month periods ended June 30, 2016 and 2015. In addition, there were no transfers into or out of Levels 1 and 2 of the fair value hierarchy during the six month periods ended June 30, 2016 and 2015. GAAP requires disclosure of the fair value of financial assets and financial liabilities, whether or not recognized in the balance sheet. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. In that regard, the derived fair value estimates cannot be substantiated by comparison to independent markets and, in many cases, could not be realized in immediate settlement of the instruments. Accordingly, the aggregate fair value amounts presented do not represent the underlying value of the Company. The estimated fair values of the Company's financial instruments are as follows: Carrying Fair Fair Vale Measurements Using (In thousands) Value Value Level 1 Level 2 Level 3 June 30, 2016 Financial assets: Cash and cash equivalents $ 70,528 $ 70,528 $ 70,528 $ 0 $ 0 Interest-bearing time deposits 16,035 16,077 0 16,077 0 Securities available for sale 249,604 249,604 4,060 245,544 0 Securities held to maturity 3 3 0 3 0 Loans held for sale 1,191 1,220 0 1,220 0 Loans, net 362,129 371,939 0 0 371,939 FHLB and other stock 1,650 1,650 0 1,650 0 Accrued interest receivable 2,342 2,342 0 2,342 0 Cost method investment (included in other assets) 711 711 0 711 0 Financial liabilities: Deposits 657,457 657,181 0 0 657,181 Accrued interest payable 145 145 0 145 0 December 31, 2015: Financial assets: Cash and cash equivalents $ 109,174 $ 109,174 $ 109,174 $ 0 $ 0 Interest-bearing time deposits 16,655 16,696 0 16,696 0 Securities available for sale 186,751 186,751 118 186,633 0 Securities held to maturity 4 4 0 4 0 Loans held for sale 3,081 3,145 0 3,145 0 Loans, net 359,166 359,784 0 0 359,784 FHLB and other stock 1,650 1,650 0 1,650 0 Accrued interest receivable 2,244 2,244 0 2,244 0 Cost method investment (included in other assets) 711 711 0 711 0 Financial liabilities: Deposits 637,177 636,406 0 0 636,406 Accrued interest payable 167 167 0 167 0 The carrying amounts in the preceding table are included in the consolidated balances sheets under the applicable captions. The following methods and assumptions were used to estimate the fair value of each class of financial instrument for which it is practicable to estimate that value: Cash and Cash Equivalents and Interest-Bearing Time Deposits For cash and short-term investments, including cash and due from banks, interest-bearing deposits with banks, federal funds sold, and interest-bearing time deposits with other financial institutions, the carrying amount is a reasonable estimate of fair value. Investment Securities For marketable equity securities, the fair values are based on quoted market prices. For debt securities, the Company obtains fair value measurements from an independent pricing service and the fair value measurements consider observable data that may include dealer quotes, market spreads, cash flows, U.S. government and agency yield curves, live trading levels, trade execution data, market consensus prepayment speeds, credit information, and the security’s terms and conditions, among other factors. For FHLB stock, a restricted equity security, the carrying amount is a reasonable estimate of fair value because it is not marketable. For other cost method equity investments where a quoted market value is not available, the carrying amount is a reasonable estimate of fair value. Loans The fair value of loans is estimated by discounting the future cash flows using the current rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities. The carrying amount of accrued interest receivable approximates its fair value. The fair value of loans held for sale is based on specific prices of underlying contracts for sale to investors. Deposits The fair value of demand deposits, savings accounts, money market deposit accounts and other transaction accounts is the amount payable on demand at the balance sheet date. The fair value of fixed-maturity certificates of deposit is estimated by discounting the future cash flows using the rates currently offered for deposits of similar remaining maturities. The carrying amount of accrued interest payable approximates its fair value. Borrowed Funds The carrying amounts of retail repurchase agreements approximate their fair value. The fair value of advances from FHLB is estimated by discounting the future cash flows using the current rates at which similar loans with the same remaining maturities could be obtained. |
Note 9 - Recent Accounting Pron
Note 9 - Recent Accounting Pronouncements | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | 9. Recent Accounting Pronouncements The following are summaries of recently issued or adopted accounting pronouncements that impact the accounting and reporting practices of the Company: In May 2014, the FASB issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (Topic 606) In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments – Overall (Subtopic 825-10) – Recognition and Measurement of Financial Assets and Financial Liabilities In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) In March 2016, the FASB issued ASU No. 2016-09, Compensation – Stock Compensation (Topic 718) – Improvements to Employee Share-Based Payment Accounting In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments – Credit Losses (Topic 326) |
Note 3 - Investment Securities
Note 3 - Investment Securities (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Notes Tables | |
Marketable Securities [Table Text Block] | (In thousands) Amortized Gross Gross Fair June 30, 2016 Securities available for sale: Agency mortgage-backed securities $ 86,056 $ 644 $ 35 $ 86,665 Agency CMO 17,092 135 19 17,208 Other debt securities: Agency notes and bonds 86,846 192 20 87,018 Municipal obligations 52,310 2,345 2 54,653 Subtotal - debt securities 242,304 3,316 76 245,544 Mutual funds 4,060 0 0 4,060 Total securities available for sale $ 246,364 $ 3,316 $ 76 $ 249,604 Securities held to maturity: Agency mortgage-backed securities $ 3 $ 0 $ 0 $ 3 Total securities held to maturity $ 3 $ 0 $ 0 $ 3 December 31, 2015 Securities available for sale: Agency mortgage-backed securities $ 42,158 $ 123 $ 271 $ 42,010 Agency CMO 9,391 41 101 9,331 Other debt securities: Agency notes and bonds 84,797 11 355 84,453 Municipal obligations 49,527 1,372 60 50,839 Subtotal - debt securities 185,873 1,547 787 186,633 Mutual funds 118 0 0 118 Total securities available for sale $ 185,991 $ 1,547 $ 787 $ 186,751 Securities held to maturity: Agency mortgage-backed securities $ 4 $ 0 $ 0 $ 4 Total securities held to maturity $ 4 $ 0 $ 0 $ 4 |
Investments Classified by Contractual Maturity Date [Table Text Block] | Securities Available for Sale Securities Held to Maturity Amortized Fair Amortized Fair (In thousands) Due in one year or less $ 2,939 $ 2,949 $ 0 $ 0 Due after one year through five years 87,145 87,476 0 0 Due after five years through ten years 17,626 18,072 Due after ten years 31,446 33,174 0 0 139,156 141,671 0 0 Mortgage-backed securities and CMO 103,148 103,873 3 3 $ 242,304 $ 245,544 $ 3 $ 3 |
Schedule of Unrealized Loss on Investments [Table Text Block] | Number of Fair Gross (Dollars in thousands) Continuous loss position less than twelve months: Agency notes and bonds 4 $ 18,987 $ 20 Agency CMO 2 1,736 9 Agency mortgage-backed securities 6 17,533 30 Muncipal obligations 2 930 2 Total less than twelve months 14 39,186 61 Continuous loss position more than twelve months: Agency CMO 5 2,959 10 Agency mortgage-backed securities 2 1,241 5 Total more than twelve months 7 4,200 15 Total securities available for sale 21 $ 43,386 $ 76 |
Note 4 - Loans and Allowance 18
Note 4 - Loans and Allowance for Loan Losses (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Financing Receivable [Member] | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | Residential Land Construction Commercial Commercial Home Equity & Other Total (In thousands) Recorded Investment in Loans: Principal loan balance $ 138,476 $ 12,585 $ 10,497 $ 93,477 $ 23,185 $ 40,987 $ 45,420 $ 364,627 Accrued interest receivable 499 42 31 307 71 134 184 1,268 Net deferred loan origination fees and costs 70 11 0 (37 ) (7 ) 654 0 691 Recorded investment in loans $ 139,045 $ 12,638 $ 10,528 $ 93,747 $ 23,249 $ 41,775 $ 45,604 $ 366,586 Recorded Investment in Loans as Evaluated for Impairment: Individually evaluated for impairment $ 2,185 $ 0 $ 0 $ 4,105 $ 63 $ 63 $ 30 $ 6,446 Collectively evaluated for impairment 136,383 12,638 10,528 89,349 23,186 41,712 45,574 359,370 Acquired with deteriorated credit quality 477 0 0 293 0 0 0 770 Ending balance $ 139,045 $ 12,638 $ 10,528 $ 93,747 $ 23,249 $ 41,775 $ 45,604 $ 366,586 Residential Land Construction Commercial Commercial Home Equity & Other Total (In thousands) Recorded Investment in Loans: Principal loan balance $ 147,933 $ 12,962 $ 12,555 $ 84,493 $ 23,095 $ 38,476 $ 42,484 $ 361,998 Accrued interest receivable 584 70 61 281 64 130 171 1,361 Net deferred loan origination fees and costs 58 6 0 (46 ) (6 ) 571 0 583 Recorded investment in loans $ 148,575 $ 13,038 $ 12,616 $ 84,728 $ 23,153 $ 39,177 $ 42,655 $ 363,942 Recorded Investment in Loans as Evaluated for Impairment: Individually evaluated for impairment $ 1,996 $ 24 $ 0 $ 3,623 $ 167 $ 136 $ 0 $ 5,946 Collectively evaluated for impairment 145,695 13,014 12,616 80,639 22,986 39,041 42,655 356,646 Acquired with deteriorated credit quality 884 0 0 466 0 0 0 1,350 Ending balance $ 148,575 $ 13,038 $ 12,616 $ 84,728 $ 23,153 $ 39,177 $ 42,655 $ 363,942 |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | (In thousands) June 30, December 31, Real estate mortgage loans: Residential $ 138,445 $ 147,933 Land 12,585 12,962 Residential construction 17,357 16,391 Commercial real estate 93,508 84,493 Commercial real estate contruction 2,536 1,090 Commercial business loans 23,185 23,095 Consumer loans: Home equity and second mortgage loans 40,987 38,476 Automobile loans 31,831 28,828 Loans secured by savings accounts 1,924 2,096 Unsecured loans 3,827 4,350 Other consumer loans 7,838 7,210 Gross loans 374,023 366,924 Less undisbursed portion of loans in process (9,396 ) (4,926 ) Principal loan balance 364,627 361,998 Deferred loan origination fees, net 691 583 Allowance for loan losses (3,189 ) (3,415 ) Loans, net $ 362,129 $ 359,166 |
Schedule of Credit Losses Related to Financing Receivables, Current and Noncurrent [Table Text Block] | Residential Land Construction Commercial Commercial Home Equity & Other Total (In thousands) Ending allowance balance attributable to loans: Individually evaluated for impairment $ 20 $ 0 $ 0 $ 0 $ 0 $ 13 $ 6 $ 39 Collectively evaluated for impairment 382 47 42 1,473 162 778 260 3,144 Acquired with deteriorated credit quality 6 0 0 0 0 0 0 6 Ending balance $ 408 $ 47 $ 42 $ 1,473 $ 162 $ 791 $ 266 $ 3,189 Residential Land Construction Commercial Commercial Home Equity & Other Total (In thousands) Ending allowance balance attributable to loans: Individually evaluated for impairment $ 6 $ 0 $ 0 $ 49 $ 100 $ 11 $ 0 $ 166 Collectively evaluated for impairment 521 157 47 1,492 161 615 256 3,249 Acquired with deteriorated credit quality 0 0 0 0 0 0 0 0 Ending balance $ 527 $ 157 $ 47 $ 1,541 $ 261 $ 626 $ 256 $ 3,415 Residential Land Construction Commercial Commercial Home Equity & Other Total (In thousands) Allowance for loan losses: Changes in Allowance for Loan Losses for the three-months ended June 30, 2016 Beginning balance $ 470 $ 84 $ 45 $ 1,468 $ 273 $ 721 $ 258 $ 3,319 Provisions for loan losses (13 ) (37 ) (3 ) 73 (13 ) 66 77 150 Charge-offs (54 ) 0 0 (82 ) (100 ) 0 (95 ) (331 ) Recoveries 5 0 0 14 2 4 26 51 Ending balance $ 408 $ 47 $ 42 $ 1,473 $ 162 $ 791 $ 266 $ 3,189 Changes in Allowance for Loan Losses for the six-months ended June 30, 2016 Beginning balance $ 527 $ 157 $ 47 $ 1,541 $ 261 $ 626 $ 256 $ 3,415 Provisions for loan losses (42 ) (101 ) (5 ) (4 ) 12 192 173 225 Charge-offs (94 ) (9 ) 0 (82 ) (114 ) (36 ) (220 ) (555 ) Recoveries 17 0 0 18 3 9 57 104 Ending balance $ 408 $ 47 $ 42 $ 1,473 $ 162 $ 791 $ 266 $ 3,189 Residential Land Construction Commercial Commercial Home Equity & Other Total (In thousands) Allowance for loan losses: Changes in Allowance for Loan Losses for the three-months ended June 30, 2015 Beginning balance $ 672 $ 197 $ 65 $ 1,462 $ 239 $ 716 $ 283 $ 3,634 Provisions for loan losses (39 ) (24 ) (14 ) 204 (58 ) (38 ) 19 50 Charge-offs 0 0 0 0 (22 ) (31 ) (72 ) (125 ) Recoveries 1 0 0 3 2 1 34 41 Ending balance $ 634 $ 173 $ 51 $ 1,669 $ 161 $ 648 $ 264 $ 3,600 Changes in Allowance for Loan Losses for the six-months ended June 30, 2015 Beginning balance $ 609 $ 201 $ 60 $ 1,501 $ 1,480 $ 720 $ 275 $ 4,846 Provisions for loan losses 42 (28 ) (9 ) 156 (117 ) (45 ) 51 50 Charge-offs (20 ) 0 0 0 (1,205 ) (33 ) (124 ) (1,382 ) Recoveries 3 0 0 12 3 6 62 86 Ending balance $ 634 $ 173 $ 51 $ 1,669 $ 161 $ 648 $ 264 $ 3,600 |
Impaired Financing Receivables [Table Text Block] | At June 30, 2016 Three Months Ended June 30, 2016 Six Months Ended June 30, 2016 Recorded Unpaid Related Average Interest Average Interest (In thousands) Loans with no related allowance recorded: Residential $ 2,044 $ 2,395 $ 0 $ 1,898 $ 8 $ 1,911 $ 14 Land 0 0 0 0 0 8 0 Construction 0 0 0 0 0 0 0 Commercial real estate 4,075 4,432 0 3,602 18 3,531 37 Commercial business 63 66 0 63 0 64 0 Home equity/2nd mortgage 50 58 0 53 1 54 1 Other consumer 10 28 0 5 0 3 0 6,242 6,979 0 5,621 27 5,571 52 Loans with an allowance recorded: Residential 141 148 20 176 0 136 0 Land 0 0 0 0 0 0 0 Construction 0 0 0 0 0 0 0 Commercial real estate 30 58 0 131 0 165 0 Commercial business 0 0 0 50 0 67 0 Home equity/2nd mortgage 13 14 13 14 0 36 0 Other consumer 20 20 6 34 0 23 0 204 240 39 405 0 427 0 Total: Residential 2,185 2,543 20 2,074 8 2,047 14 Land 0 0 0 0 0 8 0 Construction 0 0 0 0 0 0 0 Commercial real estate 4,105 4,490 0 3,733 18 3,696 37 Commercial business 63 66 0 113 0 131 0 Home equity/2nd mortgage 63 72 13 67 1 90 1 Other consumer 30 48 6 39 0 26 0 $ 6,446 $ 7,219 $ 39 $ 6,026 $ 27 $ 5,998 $ 52 Three Months Ended June 30, 2015 Six Months Ended June 30, 2015 Average Interest Average Interest Loans with no related allowance recorded: Residential $ 1,235 $ 5 $ 1,204 $ 10 Land 20 0 18 0 Construction 0 0 0 0 Commercial real estate 1,773 19 1,774 38 Commercial business 13 0 9 0 Home equity/2nd mortgage 65 0 67 1 Other consumer 0 0 0 0 3,106 24 3,072 49 Loans with an allowance recorded: Residential 254 0 259 0 Land 0 0 0 0 Construction 0 0 0 0 Commercial real estate 39 0 40 0 Commercial business 18 0 559 0 Home equity/2nd mortgage 80 0 80 0 Other consumer 0 0 0 0 391 0 938 0 Total: Residential 1,489 5 1,463 10 Land 20 0 18 0 Construction 0 0 0 0 Commercial real estate 1,812 19 1,814 38 Commercial business 31 0 568 0 Home equity/2nd mortgage 145 0 147 1 Other consumer 0 0 0 0 $ 3,497 $ 24 $ 4,010 $ 49 Recorded Unpaid Related (In thousands) Loans with no related allowance recorded: Residential $ 1,938 $ 2,330 $ 0 Land 24 27 0 Construction 0 0 0 Commercial real estate 3,389 3,706 0 Commercial business 67 67 0 Home equity/2nd mortgage 56 65 0 Other consumer 0 0 0 5,474 6,195 0 Loans with an allowance recorded: Residential 58 62 6 Land 0 0 0 Construction 0 0 0 Commercial real estate 234 260 49 Commercial business 100 100 100 Home equity/2nd mortgage 80 81 11 Other consumer 0 0 0 472 503 166 Total: Residential 1,996 2,392 6 Land 24 27 0 Construction 0 0 0 Commercial real estate 3,623 3,966 49 Commercial business 167 167 100 Home equity/2nd mortgage 136 146 11 Other consumer 0 0 0 $ 5,946 $ 6,698 $ 166 |
Schedule of Financing Receivables, Non Accrual Status [Table Text Block] | June 30, 2016 December 31, 2015 Nonaccrual Loans 90+ Days Total Nonaccrual Loans 90+ Days Total (In thousands) Residential $ 1,733 $ 109 $ 1,842 $ 1,648 $ 271 $ 1,919 Land 0 0 0 24 75 99 Construction 0 0 0 0 0 0 Commercial real estate 1,741 0 1,741 2,267 0 2,267 Commercial business 63 0 63 167 0 167 Home equity/2nd mortgage 44 12 56 116 0 116 Other consumer 30 2 32 0 9 9 Total $ 3,611 $ 123 $ 3,734 $ 4,222 $ 355 $ 4,577 |
Past Due Financing Receivables [Table Text Block] | 30-59 Days 60-89 Days 90 Days or More Total Current Purchased Total (In thousands) Residential $ 3,176 $ 489 $ 975 $ 4,640 $ 133,928 $ 477 $ 139,045 Land 132 0 0 132 12,506 0 12,638 Construction 0 0 0 0 10,528 0 10,528 Commercial real estate 23 0 730 753 92,701 293 93,747 Commercial business 82 0 0 82 23,167 0 23,249 Home equity/2nd mortgage 262 0 12 274 41,501 0 41,775 Other consumer 231 23 32 286 45,318 0 45,604 Total $ 3,906 $ 512 $ 1,749 $ 6,167 $ 359,649 $ 770 $ 366,586 30-59 Days 60-89 Days 90 Days or More Total Current Purchased Total (In thousands) Residential $ 3,078 $ 786 $ 1,256 $ 5,120 $ 142,571 $ 884 $ 148,575 Land 55 26 99 180 12,858 0 13,038 Construction 71 0 0 71 12,545 0 12,616 Commercial real estate 435 773 396 1,604 82,658 466 84,728 Commercial business 0 100 67 167 22,986 0 23,153 Home equity/2nd mortgage 365 6 80 451 38,726 0 39,177 Other consumer 464 13 9 486 42,169 0 42,655 Total $ 4,468 $ 1,704 $ 1,907 $ 8,079 $ 354,513 $ 1,350 $ 363,942 |
Financing Receivable Credit Quality Indicators [Table Text Block] | Residential Land Construction Commercial Commercial Home Equity & Other Total (In thousands) June 30, 2016 Pass $ 134,210 $ 12,445 $ 10,120 $ 81,437 $ 22,376 $ 41,557 $ 45,525 $ 347,670 Special Mention 1,368 121 408 4,325 810 159 49 7,240 Substandard 1,359 72 0 5,079 0 15 0 6,525 Doubtful 2,108 0 0 2,906 63 44 30 5,151 Loss 0 0 0 0 0 0 0 0 Total $ 139,045 $ 12,638 $ 10,528 $ 93,747 $ 23,249 $ 41,775 $ 45,604 $ 366,586 December 31, 2015 Pass $ 140,438 $ 10,077 $ 12,286 $ 76,389 $ 22,365 $ 38,956 $ 42,553 $ 343,064 Special Mention 3,657 125 330 4,446 471 0 53 9,082 Substandard 1,948 2,812 0 1,195 150 105 49 6,259 Doubtful 2,532 24 0 2,698 167 116 0 5,537 Loss 0 0 0 0 0 0 0 0 Total $ 148,575 $ 13,038 $ 12,616 $ 84,728 $ 23,153 $ 39,177 $ 42,655 $ 363,942 |
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | June 30, 2016 December 31, 2015 Accruing Nonaccrual Total Related Allowance Accruing Nonaccrual Total Related Allowance (In thousands) Troubled debt restructurings: Residential real estate $ 338 $ 328 $ 666 $ 0 $ 342 $ 315 $ 657 $ 0 Commercial real estate 1,327 249 1,576 0 1,348 294 1,642 0 Home equity and 2nd mortgage 19 0 19 0 20 0 20 0 Total $ 1,684 $ 577 $ 2,261 $ 0 $ 1,710 $ 609 $ 2,319 $ 0 |
Schedule of Purchased Credit Impaired Loans [Table Text Block] | (In thousands) June 30, December 31, Residential real estate $ 477 $ 884 Commercial real estate 293 466 Carrying amount 770 1,350 Allowance for loan losses (6 ) - Carrying amount, net of allowance $ 764 $ 1,350 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Table Text Block] | (In thousands) Three Months Six Months Balance at beginning of period $ 145 $ 319 New loans purchased - - Accretion to income (19 ) (44 ) Disposals and other adjustments (21 ) (74 ) Reclassification (to) from nonaccretable difference 60 (36 ) Balance at end of period $ 165 $ 165 |
Note 5 - Supplemental Disclos19
Note 5 - Supplemental Disclosure for Earnings Per Share (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended Six Months Ended 6/30/2016 6/30/2015 6/30/2016 6/30/2015 Basic (Dollars in thousands, except for share and per share data) Earnings: Net income attributable to First Capital, Inc. $ 1,783 $ 1,228 $ 3,365 $ 2,694 Shares: Weighted average common shares outstanding 3,339,063 2,740,689 3,339,082 2,740,596 Net income attributable to First Capital, Inc. per common share, basic $ 0.53 $ 0.45 $ 1.01 $ 0.98 Diluted Earnings: Net income attributable to First Capital, Inc. $ 1,783 $ 1,228 $ 3,365 $ 2,694 Shares: Weighted average common shares outstanding 3,339,063 2,740,689 3,339,082 2,740,596 Add: Dilutive effect of restricted stock 2,244 506 1,536 156 Weighted average common shares outstanding, as adjusted 3,341,307 2,741,195 3,340,618 2,740,752 Net income attributable to First Capital, Inc. per common share, diluted $ 0.53 $ 0.45 $ 1.01 $ 0.98 |
Note 6 - Stock Option Plan (Tab
Note 6 - Stock Option Plan (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Notes Tables | |
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block] | Number Weighted Nonvested at January 1, 2016 18,000 $ 24.50 Granted - - Vested 500 $ 24.50 Forfeited - - Nonvested at June 30, 2016 17,500 $ 24.50 |
Note 7 - Supplemental Disclos21
Note 7 - Supplemental Disclosures of Cash Flow Information (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Notes Tables | |
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block] | Six Months Ended 2016 2015 ( In thousands ) Cash payments for: Interest $ 978 $ 516 Taxes (net of refunds received) 54 1,035 Noncash investing activities: Transfers from loans to real estate acquired through foreclosure 446 562 |
Note 8 - Fair Value Measureme22
Note 8 - Fair Value Measurements (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Notes Tables | |
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Table Text Block] | Carrying Value (In thousands) Level 1 Level 2 Level 3 Total June 30, 2016 Assets Measured on a Recurring Basis Securities available for sale: Agency mortgage-backed securities $ 0 $ 86,665 $ 0 $ 86,665 Agency CMO 0 17,208 0 17,208 Agency notes and bonds 0 87,018 0 87,018 Municipal obligations 0 54,653 0 54,653 Mutual funds 4,060 0 0 4,060 Total securities available for sale $ 4,060 $ 245,544 $ 0 $ 249,604 Assets Measured on a Nonrecurring Basis Impaired loans: Residential real estate $ 0 $ 0 $ 2,165 $ 2,165 Commercial real estate 0 0 4,105 4,105 Commercial business 0 0 63 63 Home equity and second mortgage 0 0 50 50 Other consumer 0 0 24 24 Total impaired loans $ 0 $ 0 $ 6,407 $ 6,407 Loans held for sale $ 0 $ 1,191 $ 0 $ 1,191 Foreclosed real estate: Residential real estate $ 0 $ 0 $ 582 $ 582 Commercial real estate 0 0 3,670 3,670 Total foreclosed real estate $ 0 $ 0 $ 4,252 $ 4,252 December 31, 2015 Assets Measured on a Recurring Basis Securities available for sale: Agency mortgage-backed securities $ 0 $ 42,010 $ 0 $ 42,010 Agency CMO 0 9,331 0 9,331 Agency notes and bonds 0 84,453 0 84,453 Municipal obligations 0 50,839 0 50,839 Mutual funds 118 0 0 118 Total securities available for sale $ 118 $ 186,633 $ 0 $ 186,751 Assets Measured on a Nonrecurring Basis Impaired loans: Residential real estate $ 0 $ 0 $ 1,990 $ 1,990 Land 0 0 24 24 Commercial real estate 0 0 3,574 3,574 Commercial business 0 0 67 67 Home equity and second mortgage 0 0 125 125 Total impaired loans $ 0 $ 0 $ 5,780 $ 5,780 Loans held for sale $ 0 $ 3,081 $ 0 $ 3,081 Foreclosed real estate: Residential real estate $ 0 $ 0 $ 557 $ 557 Land 0 0 203 203 Commercial real estate 0 0 4,130 4,130 Total foreclosed real estate $ 0 $ 0 $ 4,890 $ 4,890 |
Fair Value, by Balance Sheet Grouping [Table Text Block] | Carrying Fair Fair Vale Measurements Using (In thousands) Value Value Level 1 Level 2 Level 3 June 30, 2016 Financial assets: Cash and cash equivalents $ 70,528 $ 70,528 $ 70,528 $ 0 $ 0 Interest-bearing time deposits 16,035 16,077 0 16,077 0 Securities available for sale 249,604 249,604 4,060 245,544 0 Securities held to maturity 3 3 0 3 0 Loans held for sale 1,191 1,220 0 1,220 0 Loans, net 362,129 371,939 0 0 371,939 FHLB and other stock 1,650 1,650 0 1,650 0 Accrued interest receivable 2,342 2,342 0 2,342 0 Cost method investment (included in other assets) 711 711 0 711 0 Financial liabilities: Deposits 657,457 657,181 0 0 657,181 Accrued interest payable 145 145 0 145 0 December 31, 2015: Financial assets: Cash and cash equivalents $ 109,174 $ 109,174 $ 109,174 $ 0 $ 0 Interest-bearing time deposits 16,655 16,696 0 16,696 0 Securities available for sale 186,751 186,751 118 186,633 0 Securities held to maturity 4 4 0 4 0 Loans held for sale 3,081 3,145 0 3,145 0 Loans, net 359,166 359,784 0 0 359,784 FHLB and other stock 1,650 1,650 0 1,650 0 Accrued interest receivable 2,244 2,244 0 2,244 0 Cost method investment (included in other assets) 711 711 0 711 0 Financial liabilities: Deposits 637,177 636,406 0 0 636,406 Accrued interest payable 167 167 0 167 0 |
Note 1 - Presentation of Inte23
Note 1 - Presentation of Interim Information (Details Textual) - USD ($) | Jan. 21, 2009 | Jun. 30, 2016 | Dec. 31, 2015 |
Cumulative Preferred Stock Subject to Mandatory Redemption [Member] | Private Placement [Member] | First Harrison REIT, Inc. [Member] | |||
Preferred Stock, Shares Issued | 105 | ||
Preferred Stock, Dividend Rate, Percentage | 12.50% | ||
Preferred Stock, Liquidation Preference, Value | $ 105,000 | ||
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 0.20% | ||
Preferred Stock, Shares Issued | 0 | 0 |
Note 2 - Acquisition of Peopl24
Note 2 - Acquisition of Peoples Bancorp, Inc. of Bullitt County (Details Textual) - Peoples Bancorp, Inc [Member] - USD ($) | Dec. 04, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 |
Foreclosed Real Estate [Member] | |||||
Business Combination, Contingent Consideration, Asset | $ 3,750,000 | ||||
Payments to Acquire Businesses, Gross | $ 14,700,000 | ||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | 580,017 | ||||
Equity Issued in Business Combination, Fair Value Disclosure | $ 14,800,000 | ||||
Sale of Contingent Assets Time Frame | 2 years | ||||
Contract to Sell Contingent Assets Time Frame | 60 days | ||||
Business Combination, Contingent Consideration, Percent of Excess Sales Proceeds | 50.00% | ||||
Goodwill, Acquired During Period | $ 1,100,000 | ||||
Business Combination, Acquisition Related Costs | $ 0 | $ 214,000 | $ 0 | $ 267,000 |
Note 3 - Investment Securitie25
Note 3 - Investment Securities (Details Textual) - USD ($) | 1 Months Ended | 3 Months Ended | 6 Months Ended | |||||
Jul. 31, 2016 | Jun. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2016 | Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Other Assets [Member] | ||||||||
Cost Method Investments | $ 711,000 | |||||||
Subsequent Event [Member] | Cost-method Investments [Member] | ||||||||
Proceeds from Sale, Maturity and Collection of Investments | $ 856,000 | |||||||
Scenario, Forecast [Member] | ||||||||
Cost-method Investments, Realized Gains | $ 145,000 | |||||||
Available-for-sale Securities, Gross Realized Gain (Loss) | $ 176,000 | $ 0 | $ 176,000 | $ 0 | ||||
Available-for-Sale, Securities in Unrealized Loss Positions, Depreciation from Amortized Cost Percentage | 0.20% | 0.20% | ||||||
Cost-Method Investment, Number of Shares Acquired | 31,750 | 100,000 | ||||||
Percentage of Outstanding Shares of Voting Common Stock | 9.00% |
Note 3 - Investment Securitie26
Note 3 - Investment Securities (Details) - USD ($) | Jun. 30, 2016 | Dec. 31, 2015 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Amortized Cost | $ 86,056,000 | $ 42,158,000 |
Gross Unrealized Gains | 644,000 | 123,000 |
Gross Unrealized Losses | 35,000 | 271,000 |
Fair Value | 86,665,000 | 42,010,000 |
Amortized Cost | 3,000 | 4,000 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 0 | 0 |
Fair Value | 3,000 | 4,000 |
Agency Collateralized Mortgage Obligations [Member] | ||
Amortized Cost | 17,092,000 | 9,391,000 |
Gross Unrealized Gains | 135,000 | 41,000 |
Gross Unrealized Losses | 19,000 | 101,000 |
Fair Value | 17,208,000 | 9,331,000 |
US Government Agencies Debt Securities [Member] | ||
Amortized Cost | 86,846,000 | 84,797,000 |
Gross Unrealized Gains | 192,000 | 11,000 |
Gross Unrealized Losses | 20,000 | 355,000 |
Fair Value | 87,018,000 | 84,453,000 |
Municipal Notes [Member] | ||
Amortized Cost | 52,310,000 | 49,527,000 |
Gross Unrealized Gains | 2,345,000 | 1,372,000 |
Gross Unrealized Losses | 2,000 | 60,000 |
Fair Value | 54,653,000 | 50,839,000 |
Debt Securities [Member] | ||
Amortized Cost | 242,304,000 | 185,873,000 |
Gross Unrealized Gains | 3,316,000 | 1,547,000 |
Gross Unrealized Losses | 76,000 | 787,000 |
Fair Value | 245,544,000 | 186,633,000 |
Amortized Cost | 3,000 | |
Fair Value | 3,000 | |
Mutual Funds [Member] | ||
Amortized Cost | 4,060,000 | 118,000 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 0 | 0 |
Fair Value | 4,060,000 | 118,000 |
Amortized Cost | 246,364,000 | 185,991,000 |
Gross Unrealized Gains | 3,316,000 | 1,547,000 |
Gross Unrealized Losses | 76,000 | 787,000 |
Fair Value | 249,604,000 | 186,751,000 |
Amortized Cost | 3,000 | 4,000 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 0 | 0 |
Fair Value | $ 3,000 | $ 4,000 |
Note 3 - Amortized Cost and Fai
Note 3 - Amortized Cost and Fair Value of Debt Securities by Contractual Maturity (Details) - USD ($) | Jun. 30, 2016 | Dec. 31, 2015 |
Debt Securities [Member] | ||
$ 242,304,000 | ||
245,544,000 | ||
Amortized Cost | 3,000 | |
Fair Value | 3,000 | |
Due in one year or less | 2,939,000 | |
Due in one year or less | 2,949,000 | |
Due in one year or less | 0 | |
Due in one year or less | 0 | |
Due after one year through five years | 87,145,000 | |
Due after one year through five years | 87,476,000 | |
Due after one year through five years | 0 | |
Due after one year through five years | 0 | |
Due after five years through ten years | 17,626,000 | |
Due after five years through ten years | 18,072,000 | |
Due after five years through ten years | ||
Due after five years through ten years | ||
Due after ten years | 31,446,000 | |
Due after ten years | 33,174,000 | |
Due after ten years | 0 | |
Due after ten years | 0 | |
139,156,000 | ||
141,671,000 | ||
0 | ||
0 | ||
Mortgage-backed securities and CMO | 103,148,000 | |
Mortgage-backed securities and CMO | 103,873,000 | |
Mortgage-backed securities and CMO | 3,000 | |
Mortgage-backed securities and CMO | 3,000 | |
Amortized Cost | 3,000 | $ 4,000 |
Fair Value | $ 3,000 | $ 4,000 |
Note 3 - Investment Securitie28
Note 3 - Investment Securities Available for Sale (Details) $ in Thousands | Jun. 30, 2016USD ($) |
US Government Agencies Debt Securities [Member] | |
Number of investment positions - less than twelve months | 4 |
Fair value - less than twelve months | $ 18,987 |
Gross unrealized losses - less than twelve months | $ 20 |
Agency Collateralized Mortgage Obligations [Member] | |
Number of investment positions - less than twelve months | 2 |
Fair value - less than twelve months | $ 1,736 |
Gross unrealized losses - less than twelve months | $ 9 |
Number of investment positions - more than twelve months | 5 |
Fair value - more than twelve months | $ 2,959 |
Gross unrealized losses - more than twelve months | $ 10 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | |
Number of investment positions - less than twelve months | 6 |
Fair value - less than twelve months | $ 17,533 |
Gross unrealized losses - less than twelve months | $ 30 |
Number of investment positions - more than twelve months | 2 |
Fair value - more than twelve months | $ 1,241 |
Gross unrealized losses - more than twelve months | $ 5 |
Municipal Notes [Member] | |
Number of investment positions - less than twelve months | 2 |
Fair value - less than twelve months | $ 930 |
Gross unrealized losses - less than twelve months | $ 2 |
Number of investment positions - less than twelve months | 14 |
Fair value - less than twelve months | $ 39,186 |
Gross unrealized losses - less than twelve months | $ 61 |
Number of investment positions - more than twelve months | 7 |
Fair value - more than twelve months | $ 4,200 |
Gross unrealized losses - more than twelve months | $ 15 |
Total securities available for sale | 21 |
Total securities available for sale | $ 43,386 |
Total securities available for sale | $ 76 |
Note 4 - Loans and Allowance 29
Note 4 - Loans and Allowance for Loan Losses (Details Textual) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||
Jun. 30, 2016USD ($) | Mar. 31, 2016USD ($) | Jun. 30, 2015USD ($) | Mar. 31, 2015USD ($) | Jun. 30, 2016USD ($) | Jun. 30, 2015USD ($) | Dec. 31, 2015USD ($) | |
Purchased Credit Impaired Loans [Member] | |||||||
Allowance for Credit Losses, Change in Method of Calculating Impairment | $ 6,000 | $ 6,000 | $ 0 | ||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Provision for Loan Losses | 0 | $ 0 | 6,000 | $ 0 | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Allowance for Loan Losses, Decreases | $ 0 | 0 | $ 0 | 0 | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | $ 951,000 | 951,000 | 1,600,000 | ||||
Classified Loans [Member] | |||||||
Allowance for Loan and Lease Losses, Period Increase (Decrease) | $ 630,000 | 410,000 | |||||
Minimum [Member] | |||||||
Performance Period | 180 days | ||||||
Other than Consumer Portfolio Segment [Member] | |||||||
Number of Loans | 11 | 11 | |||||
Financing Receivable, Allowance for Credit Losses, Write-downs | $ 471,000 | ||||||
Bank Overdrafts [Member] | |||||||
Loans Charge-off Period | 45 days | ||||||
Qualitative Factor Past Due Loans [Member] | |||||||
Financing Receivable, Allowance for Credit Losses, Effect of Change in Method | $ 1,300,000 | $ 1,400,000 | |||||
Overall Qualitative Factor [Member] | |||||||
Financing Receivable, Allowance for Credit Losses Risk Factor | 1.18 | 1.18 | 1.18 | ||||
Allowance for Loan and Lease Losses, Period Increase (Decrease) | $ 499,000 | $ 457,000 | |||||
Impaired Financing Receivable, Interest Income, Cash Basis Method | $ 0 | $ 0 | |||||
Loans Charge-off Period | 90 days | ||||||
Loans and Leases Receivable, Impaired, Commitment to Lend | $ 0 | $ 0 | $ 0 | ||||
Financing Receivable, Modifications, Number of Contracts | 0 | 0 | 0 | 0 | |||
Financing Receivable, Allowance for Credit Losses, Write-downs | $ 331,000 | $ 125,000 | $ 555,000 | $ 1,382,000 | |||
Troubled Debt Restructuring, Principal Charge-offs | 0 | 0 | 0 | 0 | |||
Troubled Debt Restructuring, Specific Allowance | $ 0 | $ 0 | $ 0 | $ 0 | |||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 0 | 0 | 0 | 0 | |||
Collateral Dependent Loans, Value of Significant Properties | $ 200,000 | $ 200,000 | |||||
Mortgage Loans in Process of Foreclosure, Amount | $ 742,000 | $ 742,000 | |||||
Financing Receivable, Allowance for Credit Losses, Loss Factor Increase | 0.25% | ||||||
Financing Receivable, Allowance for Credit Losses, Loss Factor | 20.00% | 20.00% |
Note 4 - Loans (Details)
Note 4 - Loans (Details) - USD ($) | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 |
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | ||||||
Loan Gross | $ 138,445,000 | $ 147,933,000 | ||||
Allowance for loan losses | (408,000) | $ (470,000) | (527,000) | $ (634,000) | $ (672,000) | $ (609,000) |
Real Estate Mortgage Portfolio Segment [Member] | Land Loan [Member] | ||||||
Loan Gross | 12,585,000 | 12,962,000 | ||||
Principal loan balance | 12,585,000 | 12,962,000 | ||||
Deferred loan origination fees, net | 11,000 | 6,000 | ||||
Allowance for loan losses | (47,000) | (84,000) | (157,000) | (173,000) | (197,000) | (201,000) |
Real Estate Mortgage Portfolio Segment [Member] | Construction Loans [Member] | ||||||
Loan Gross | 17,357,000 | 16,391,000 | ||||
Principal loan balance | 10,497,000 | 12,555,000 | ||||
Deferred loan origination fees, net | 0 | 0 | ||||
Allowance for loan losses | (42,000) | (45,000) | (47,000) | (51,000) | (65,000) | (60,000) |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | ||||||
Loan Gross | 93,508,000 | 84,493,000 | ||||
Principal loan balance | 93,477,000 | 84,493,000 | ||||
Deferred loan origination fees, net | (37,000) | (46,000) | ||||
Allowance for loan losses | (1,473,000) | (1,468,000) | (1,541,000) | (1,669,000) | (1,462,000) | (1,501,000) |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Real Estate Construction [Member] | ||||||
Loan Gross | 2,536,000 | 1,090,000 | ||||
Commercial Portfolio Segment [Member] | ||||||
Loan Gross | 23,185,000 | 23,095,000 | ||||
Principal loan balance | 23,185,000 | 23,095,000 | ||||
Deferred loan origination fees, net | (7,000) | (6,000) | ||||
Allowance for loan losses | (162,000) | (273,000) | (261,000) | (161,000) | (239,000) | (1,480,000) |
Consumer Portfolio Segment [Member] | Home Equity and Second Mortgage [Member] | ||||||
Loan Gross | 40,987,000 | 38,476,000 | ||||
Principal loan balance | 40,987,000 | 38,476,000 | ||||
Deferred loan origination fees, net | 654,000 | 571,000 | ||||
Allowance for loan losses | (791,000) | (721,000) | (626,000) | (648,000) | (716,000) | (720,000) |
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | ||||||
Loan Gross | 31,831,000 | 28,828,000 | ||||
Consumer Portfolio Segment [Member] | Loans Secured by Saving Accounts [Member] | ||||||
Loan Gross | 1,924,000 | 2,096,000 | ||||
Consumer Portfolio Segment [Member] | Unsecured Loan [Member] | ||||||
Loan Gross | 3,827,000 | 4,350,000 | ||||
Consumer Portfolio Segment [Member] | Other Consumer Loan [Member] | ||||||
Loan Gross | 7,838,000 | 7,210,000 | ||||
Principal loan balance | 45,420,000 | 42,484,000 | ||||
Deferred loan origination fees, net | 0 | 0 | ||||
Allowance for loan losses | (266,000) | (258,000) | (256,000) | (264,000) | (283,000) | (275,000) |
Loan Gross | 374,023,000 | 366,924,000 | ||||
Less undisbursed portion of loans in process | (9,396,000) | (4,926,000) | ||||
Principal loan balance | 364,627,000 | 361,998,000 | ||||
Deferred loan origination fees, net | 691,000 | 583,000 | ||||
Allowance for loan losses | (3,189,000) | $ (3,319,000) | (3,415,000) | $ (3,600,000) | $ (3,634,000) | $ (4,846,000) |
Loans, net | $ 362,129,000 | $ 359,166,000 |
Note 4 - Recorded Investments i
Note 4 - Recorded Investments in Loans (Details) - USD ($) | Jun. 30, 2016 | Dec. 31, 2015 |
Real Estate Mortgage Portfolio Segment [Member] | Real Estate Loan [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||
Recorded investment in loans | $ 477,000 | $ 884,000 |
Real Estate Mortgage Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Principal loan balance | 138,476,000 | 147,933,000 |
Accrued interest receivable | 499,000 | 584,000 |
Deferred loan origination fees, net | 70,000 | 58,000 |
Recorded investment in loans | 139,045,000 | 148,575,000 |
Individually evaluated for impairment | 2,185,000 | 1,996,000 |
Collectively evaluated for impairment | 136,383,000 | 145,695,000 |
Real Estate Mortgage Portfolio Segment [Member] | Land Loan [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||
Recorded investment in loans | 0 | 0 |
Real Estate Mortgage Portfolio Segment [Member] | Land Loan [Member] | ||
Principal loan balance | 12,585,000 | 12,962,000 |
Accrued interest receivable | 42,000 | 70,000 |
Deferred loan origination fees, net | 11,000 | 6,000 |
Recorded investment in loans | 12,638,000 | 13,038,000 |
Individually evaluated for impairment | 0 | 24,000 |
Collectively evaluated for impairment | 12,638,000 | 13,014,000 |
Real Estate Mortgage Portfolio Segment [Member] | Construction Loans [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||
Recorded investment in loans | 0 | 0 |
Real Estate Mortgage Portfolio Segment [Member] | Construction Loans [Member] | ||
Principal loan balance | 10,497,000 | 12,555,000 |
Accrued interest receivable | 31,000 | 61,000 |
Deferred loan origination fees, net | 0 | 0 |
Recorded investment in loans | 10,528,000 | 12,616,000 |
Individually evaluated for impairment | 0 | 0 |
Collectively evaluated for impairment | 10,528,000 | 12,616,000 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||
Recorded investment in loans | 293,000 | 466,000 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | ||
Principal loan balance | 93,477,000 | 84,493,000 |
Accrued interest receivable | 307,000 | 281,000 |
Deferred loan origination fees, net | (37,000) | (46,000) |
Recorded investment in loans | 93,747,000 | 84,728,000 |
Individually evaluated for impairment | 4,105,000 | 3,623,000 |
Collectively evaluated for impairment | 89,349,000 | 80,639,000 |
Commercial Portfolio Segment [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||
Recorded investment in loans | 0 | 0 |
Commercial Portfolio Segment [Member] | ||
Principal loan balance | 23,185,000 | 23,095,000 |
Accrued interest receivable | 71,000 | 64,000 |
Deferred loan origination fees, net | (7,000) | (6,000) |
Recorded investment in loans | 23,249,000 | 23,153,000 |
Individually evaluated for impairment | 63,000 | 167,000 |
Collectively evaluated for impairment | 23,186,000 | 22,986,000 |
Consumer Portfolio Segment [Member] | Home Equity and Second Mortgage [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||
Recorded investment in loans | 0 | 0 |
Consumer Portfolio Segment [Member] | Home Equity and Second Mortgage [Member] | ||
Principal loan balance | 40,987,000 | 38,476,000 |
Accrued interest receivable | 134,000 | 130,000 |
Deferred loan origination fees, net | 654,000 | 571,000 |
Recorded investment in loans | 41,775,000 | 39,177,000 |
Individually evaluated for impairment | 63,000 | 136,000 |
Collectively evaluated for impairment | 41,712,000 | 39,041,000 |
Consumer Portfolio Segment [Member] | Other Consumer Loan [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||
Recorded investment in loans | 0 | 0 |
Consumer Portfolio Segment [Member] | Other Consumer Loan [Member] | ||
Principal loan balance | 45,420,000 | 42,484,000 |
Accrued interest receivable | 184,000 | 171,000 |
Deferred loan origination fees, net | 0 | 0 |
Recorded investment in loans | 45,604,000 | 42,655,000 |
Individually evaluated for impairment | 30,000 | 0 |
Collectively evaluated for impairment | 45,574,000 | 42,655,000 |
Receivables Acquired with Deteriorated Credit Quality [Member] | ||
Recorded investment in loans | 770,000 | 1,350,000 |
Principal loan balance | 364,627,000 | 361,998,000 |
Accrued interest receivable | 1,268,000 | 1,361,000 |
Deferred loan origination fees, net | 691,000 | 583,000 |
Recorded investment in loans | 366,586,000 | 363,942,000 |
Individually evaluated for impairment | 6,446,000 | 5,946,000 |
Collectively evaluated for impairment | $ 359,370,000 | $ 356,646,000 |
Note 4 - Allowance for Loan Los
Note 4 - Allowance for Loan Losses (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Dec. 31, 2015 | |
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||||
Ending balance | $ 6,000 | $ 6,000 | $ 6,000 | $ 0 | ||
Beginning balance | 0 | |||||
Ending balance | 6,000 | 6,000 | ||||
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | ||||||
Individually evaluated for impairment | 20,000 | 6,000 | ||||
Collectively evaluated for impairment | 382,000 | 521,000 | ||||
Ending balance | 408,000 | $ 672,000 | 408,000 | $ 634,000 | 408,000 | 527,000 |
Beginning balance | 470,000 | 672,000 | 527,000 | 609,000 | ||
Provision for Loan and Lease Losses | (13,000) | (39,000) | (42,000) | 42,000 | ||
Charge-offs | (54,000) | 0 | (94,000) | (20,000) | ||
Recoveries | 5,000 | 1,000 | 17,000 | 3,000 | ||
Ending balance | 408,000 | 634,000 | 408,000 | 634,000 | ||
Real Estate Mortgage Portfolio Segment [Member] | Land Loan [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||||
Ending balance | 0 | 0 | 0 | 0 | ||
Beginning balance | 0 | |||||
Ending balance | 0 | 0 | ||||
Real Estate Mortgage Portfolio Segment [Member] | Land Loan [Member] | ||||||
Individually evaluated for impairment | 0 | 0 | ||||
Collectively evaluated for impairment | 47,000 | 157,000 | ||||
Ending balance | 47,000 | 197,000 | 47,000 | 173,000 | 47,000 | 157,000 |
Beginning balance | 84,000 | 197,000 | 157,000 | 201,000 | ||
Provision for Loan and Lease Losses | (37,000) | (24,000) | (101,000) | (28,000) | ||
Charge-offs | 0 | 0 | (9,000) | 0 | ||
Recoveries | 0 | 0 | 0 | 0 | ||
Ending balance | 47,000 | 173,000 | 47,000 | 173,000 | ||
Real Estate Mortgage Portfolio Segment [Member] | Construction Loans [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||||
Ending balance | 0 | 0 | 0 | 0 | ||
Beginning balance | 0 | |||||
Ending balance | 0 | 0 | ||||
Real Estate Mortgage Portfolio Segment [Member] | Construction Loans [Member] | ||||||
Individually evaluated for impairment | 0 | 0 | ||||
Collectively evaluated for impairment | 42,000 | 47,000 | ||||
Ending balance | 42,000 | 65,000 | 42,000 | 51,000 | 42,000 | 47,000 |
Beginning balance | 45,000 | 65,000 | 47,000 | 60,000 | ||
Provision for Loan and Lease Losses | (3,000) | (14,000) | (5,000) | (9,000) | ||
Charge-offs | 0 | 0 | 0 | 0 | ||
Recoveries | 0 | 0 | 0 | 0 | ||
Ending balance | 42,000 | 51,000 | 42,000 | 51,000 | ||
Real Estate Mortgage Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||||
Ending balance | 0 | 0 | 0 | 0 | ||
Beginning balance | 0 | |||||
Ending balance | 0 | 0 | ||||
Real Estate Mortgage Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | ||||||
Individually evaluated for impairment | 0 | 49,000 | ||||
Collectively evaluated for impairment | 1,473,000 | 1,492,000 | ||||
Ending balance | 1,473,000 | 1,462,000 | 1,473,000 | 1,669,000 | 1,473,000 | 1,541,000 |
Beginning balance | 1,468,000 | 1,462,000 | 1,541,000 | 1,501,000 | ||
Provision for Loan and Lease Losses | 73,000 | 204,000 | (4,000) | 156,000 | ||
Charge-offs | (82,000) | 0 | (82,000) | 0 | ||
Recoveries | 14,000 | 3,000 | 18,000 | 12,000 | ||
Ending balance | 1,473,000 | 1,669,000 | 1,473,000 | 1,669,000 | ||
Commercial Portfolio Segment [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||||
Ending balance | 0 | 0 | 0 | 0 | ||
Beginning balance | 0 | |||||
Ending balance | 0 | 0 | ||||
Commercial Portfolio Segment [Member] | ||||||
Individually evaluated for impairment | 0 | 100,000 | ||||
Collectively evaluated for impairment | 162,000 | 161,000 | ||||
Ending balance | 162,000 | 239,000 | 162,000 | 161,000 | 162,000 | 261,000 |
Beginning balance | 273,000 | 239,000 | 261,000 | 1,480,000 | ||
Provision for Loan and Lease Losses | (13,000) | (58,000) | 12,000 | (117,000) | ||
Charge-offs | (100,000) | (22,000) | (114,000) | (1,205,000) | ||
Recoveries | 2,000 | 2,000 | 3,000 | 3,000 | ||
Ending balance | 162,000 | 161,000 | 162,000 | 161,000 | ||
Consumer Portfolio Segment [Member] | Home Equity and Second Mortgage [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||||
Ending balance | 0 | 0 | 0 | 0 | ||
Beginning balance | 0 | |||||
Ending balance | 0 | 0 | ||||
Consumer Portfolio Segment [Member] | Home Equity and Second Mortgage [Member] | ||||||
Individually evaluated for impairment | 13,000 | 11,000 | ||||
Collectively evaluated for impairment | 778,000 | 615,000 | ||||
Ending balance | 791,000 | 716,000 | 791,000 | 648,000 | 791,000 | 626,000 |
Beginning balance | 721,000 | 716,000 | 626,000 | 720,000 | ||
Provision for Loan and Lease Losses | 66,000 | (38,000) | 192,000 | (45,000) | ||
Charge-offs | 0 | (31,000) | (36,000) | (33,000) | ||
Recoveries | 4,000 | 1,000 | 9,000 | 6,000 | ||
Ending balance | 791,000 | 648,000 | 791,000 | 648,000 | ||
Consumer Portfolio Segment [Member] | Other Consumer Loan [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||||
Ending balance | 0 | 0 | 0 | 0 | ||
Beginning balance | 0 | |||||
Ending balance | 0 | 0 | ||||
Consumer Portfolio Segment [Member] | Other Consumer Loan [Member] | ||||||
Individually evaluated for impairment | 6,000 | 0 | ||||
Collectively evaluated for impairment | 260,000 | 256,000 | ||||
Ending balance | 266,000 | 283,000 | 266,000 | 264,000 | 266,000 | 256,000 |
Beginning balance | 258,000 | 283,000 | 256,000 | 275,000 | ||
Provision for Loan and Lease Losses | 77,000 | 19,000 | 173,000 | 51,000 | ||
Charge-offs | (95,000) | (72,000) | (220,000) | (124,000) | ||
Recoveries | 26,000 | 34,000 | 57,000 | 62,000 | ||
Ending balance | 266,000 | 264,000 | 266,000 | 264,000 | ||
Receivables Acquired with Deteriorated Credit Quality [Member] | ||||||
Ending balance | 6,000 | 6,000 | 6,000 | 0 | ||
Beginning balance | 0 | |||||
Ending balance | 6,000 | 6,000 | ||||
Individually evaluated for impairment | 39,000 | 166,000 | ||||
Collectively evaluated for impairment | 3,144,000 | 3,249,000 | ||||
Ending balance | 3,189,000 | 3,634,000 | 3,189,000 | 3,600,000 | $ 3,189,000 | $ 3,415,000 |
Beginning balance | 3,319,000 | 3,634,000 | 3,415,000 | 4,846,000 | ||
Provision for Loan and Lease Losses | 150,000 | 50,000 | 225,000 | 50,000 | ||
Charge-offs | (331,000) | (125,000) | (555,000) | (1,382,000) | ||
Recoveries | 51,000 | 41,000 | 104,000 | 86,000 | ||
Ending balance | $ 3,189,000 | $ 3,600,000 | $ 3,189,000 | $ 3,600,000 |
Note 4 - Impaired Loans (Detail
Note 4 - Impaired Loans (Details) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | Dec. 31, 2015 | |
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | |||||
Recorded investment with no allowance | $ 2,044,000 | $ 2,044,000 | $ 1,938,000 | ||
Unpaid principal balance with no allowance | 2,395,000 | 2,395,000 | 2,330,000 | ||
Related allowance with no allowance | 0 | 0 | 0 | ||
Average recorded investment with no allowance | 1,898,000 | $ 1,235,000 | 1,911,000 | $ 1,204,000 | |
Interest income recognized with no allowance | 8,000 | 5,000 | 14,000 | 10,000 | |
Recorded investment with allowance | 141,000 | 141,000 | 58,000 | ||
Unpaid principal balance with allowance | 148,000 | 148,000 | 62,000 | ||
Related allowance with allowance | 20,000 | 20,000 | 6,000 | ||
Average recorded investment with allowance | 176,000 | 254,000 | 136,000 | 259,000 | |
Interest income recognized with allowance | 0 | 0 | 0 | 0 | |
Recorded investment | 2,185,000 | 2,185,000 | 1,996,000 | ||
Unpaid principal balance | 2,543,000 | 2,543,000 | 2,392,000 | ||
Average recorded investment | 2,074,000 | 1,489,000 | 2,047,000 | 1,463,000 | |
Interest income recognized | 8,000 | 5,000 | 14,000 | 10,000 | |
Real Estate Mortgage Portfolio Segment [Member] | Land Loan [Member] | |||||
Recorded investment with no allowance | 0 | 0 | 24,000 | ||
Unpaid principal balance with no allowance | 0 | 0 | 27,000 | ||
Related allowance with no allowance | 0 | 0 | 0 | ||
Average recorded investment with no allowance | 0 | 20,000 | 8,000 | 18,000 | |
Interest income recognized with no allowance | 0 | 0 | 0 | 0 | |
Recorded investment with allowance | 0 | 0 | 0 | ||
Unpaid principal balance with allowance | 0 | 0 | 0 | ||
Related allowance with allowance | 0 | 0 | 0 | ||
Average recorded investment with allowance | 0 | 0 | 0 | 0 | |
Interest income recognized with allowance | 0 | 0 | 0 | 0 | |
Recorded investment | 0 | 0 | 24,000 | ||
Unpaid principal balance | 0 | 0 | 27,000 | ||
Average recorded investment | 0 | 20,000 | 8,000 | 18,000 | |
Interest income recognized | 0 | 0 | 0 | 0 | |
Real Estate Mortgage Portfolio Segment [Member] | Construction Loans [Member] | |||||
Recorded investment with no allowance | 0 | 0 | 0 | ||
Unpaid principal balance with no allowance | 0 | 0 | 0 | ||
Related allowance with no allowance | 0 | 0 | 0 | ||
Average recorded investment with no allowance | 0 | 0 | 0 | 0 | |
Interest income recognized with no allowance | 0 | 0 | 0 | 0 | |
Recorded investment with allowance | 0 | 0 | 0 | ||
Unpaid principal balance with allowance | 0 | 0 | 0 | ||
Related allowance with allowance | 0 | 0 | 0 | ||
Average recorded investment with allowance | 0 | 0 | 0 | 0 | |
Interest income recognized with allowance | 0 | 0 | 0 | 0 | |
Recorded investment | 0 | 0 | 0 | ||
Unpaid principal balance | 0 | 0 | 0 | ||
Average recorded investment | 0 | 0 | 0 | 0 | |
Interest income recognized | 0 | 0 | 0 | 0 | |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | |||||
Recorded investment with no allowance | 4,075,000 | 4,075,000 | 3,389,000 | ||
Unpaid principal balance with no allowance | 4,432,000 | 4,432,000 | 3,706,000 | ||
Related allowance with no allowance | 0 | 0 | 0 | ||
Average recorded investment with no allowance | 3,602,000 | 1,773,000 | 3,531,000 | 1,774,000 | |
Interest income recognized with no allowance | 18,000 | 19,000 | 37,000 | 38,000 | |
Recorded investment with allowance | 30,000 | 30,000 | 234,000 | ||
Unpaid principal balance with allowance | 58,000 | 58,000 | 260,000 | ||
Related allowance with allowance | 0 | 0 | 49,000 | ||
Average recorded investment with allowance | 131,000 | 39,000 | 165,000 | 40,000 | |
Interest income recognized with allowance | 0 | 0 | 0 | 0 | |
Recorded investment | 4,105,000 | 4,105,000 | 3,623,000 | ||
Unpaid principal balance | 4,490,000 | 4,490,000 | 3,966,000 | ||
Average recorded investment | 3,733,000 | 1,812,000 | 3,696,000 | 1,814,000 | |
Interest income recognized | 18,000 | 19,000 | 37,000 | 38,000 | |
Commercial Portfolio Segment [Member] | |||||
Recorded investment with no allowance | 63,000 | 63,000 | 67,000 | ||
Unpaid principal balance with no allowance | 66,000 | 66,000 | 67,000 | ||
Related allowance with no allowance | 0 | 0 | 0 | ||
Average recorded investment with no allowance | 63,000 | 13,000 | 64,000 | 9,000 | |
Interest income recognized with no allowance | 0 | 0 | 0 | 0 | |
Recorded investment with allowance | 0 | 0 | 100,000 | ||
Unpaid principal balance with allowance | 0 | 0 | 100,000 | ||
Related allowance with allowance | 0 | 0 | 100,000 | ||
Average recorded investment with allowance | 50,000 | 18,000 | 67,000 | 559,000 | |
Interest income recognized with allowance | 0 | 0 | 0 | 0 | |
Recorded investment | 63,000 | 63,000 | 167,000 | ||
Unpaid principal balance | 66,000 | 66,000 | 167,000 | ||
Average recorded investment | 113,000 | 31,000 | 131,000 | 568,000 | |
Interest income recognized | 0 | 0 | 0 | 0 | |
Consumer Portfolio Segment [Member] | Home Equity and Second Mortgage [Member] | |||||
Recorded investment with no allowance | 50,000 | 50,000 | 56,000 | ||
Unpaid principal balance with no allowance | 58,000 | 58,000 | 65,000 | ||
Related allowance with no allowance | 0 | 0 | 0 | ||
Average recorded investment with no allowance | 53,000 | 65,000 | 54,000 | 67,000 | |
Interest income recognized with no allowance | 1,000 | 0 | 1,000 | 1,000 | |
Recorded investment with allowance | 13,000 | 13,000 | 80,000 | ||
Unpaid principal balance with allowance | 14,000 | 14,000 | 81,000 | ||
Related allowance with allowance | 13,000 | 13,000 | 11,000 | ||
Average recorded investment with allowance | 14,000 | 80,000 | 36,000 | 80,000 | |
Interest income recognized with allowance | 0 | 0 | 0 | 0 | |
Recorded investment | 63,000 | 63,000 | 136,000 | ||
Unpaid principal balance | 72,000 | 72,000 | 146,000 | ||
Average recorded investment | 67,000 | 145,000 | 90,000 | 147,000 | |
Interest income recognized | 1,000 | 0 | 1,000 | 1,000 | |
Consumer Portfolio Segment [Member] | Other Consumer Loan [Member] | |||||
Recorded investment with no allowance | 10,000 | 10,000 | 0 | ||
Unpaid principal balance with no allowance | 28,000 | 28,000 | 0 | ||
Related allowance with no allowance | 0 | 0 | 0 | ||
Average recorded investment with no allowance | 5,000 | 0 | 3,000 | 0 | |
Interest income recognized with no allowance | 0 | 0 | 0 | 0 | |
Recorded investment with allowance | 20,000 | 20,000 | 0 | ||
Unpaid principal balance with allowance | 20,000 | 20,000 | 0 | ||
Related allowance with allowance | 6,000 | 6,000 | 0 | ||
Average recorded investment with allowance | 34,000 | 0 | 23,000 | 0 | |
Interest income recognized with allowance | 0 | 0 | 0 | 0 | |
Recorded investment | 30,000 | 30,000 | 0 | ||
Unpaid principal balance | 48,000 | 48,000 | 0 | ||
Average recorded investment | 39,000 | 0 | 26,000 | 0 | |
Interest income recognized | 0 | 0 | 0 | 0 | |
Recorded investment with no allowance | 6,242,000 | 6,242,000 | 5,474,000 | ||
Unpaid principal balance with no allowance | 6,979,000 | 6,979,000 | 6,195,000 | ||
Related allowance with no allowance | 0 | 0 | 0 | ||
Average recorded investment with no allowance | 5,621,000 | 3,106,000 | 5,571,000 | 3,072,000 | |
Interest income recognized with no allowance | 27,000 | 24,000 | 52,000 | 49,000 | |
Recorded investment with allowance | 204,000 | 204,000 | 472,000 | ||
Unpaid principal balance with allowance | 240,000 | 240,000 | 503,000 | ||
Related allowance with allowance | 39,000 | 39,000 | 166,000 | ||
Average recorded investment with allowance | 405,000 | 391,000 | 427,000 | 938,000 | |
Interest income recognized with allowance | 0 | 0 | 0 | 0 | |
Recorded investment | 6,446,000 | 6,446,000 | 5,946,000 | ||
Unpaid principal balance | 7,219,000 | 7,219,000 | $ 6,698,000 | ||
Average recorded investment | 6,026,000 | 3,497,000 | 5,998,000 | 4,010,000 | |
Interest income recognized | $ 27,000 | $ 24,000 | $ 52,000 | $ 49,000 |
Note 4 - Recorded Investment in
Note 4 - Recorded Investment in Nonperforming Loans (Details) - USD ($) | Jun. 30, 2016 | Dec. 31, 2015 |
Nonperforming Financial Instruments [Member] | Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | ||
Nonaccrual Loans | $ 1,733,000 | $ 1,648,000 |
Loans 90+ Days Past Due Still Accruing | 109,000 | 271,000 |
Total Nonperforming Loans | 1,842,000 | 1,919,000 |
Nonperforming Financial Instruments [Member] | Real Estate Mortgage Portfolio Segment [Member] | Land Loan [Member] | ||
Nonaccrual Loans | 0 | 24,000 |
Loans 90+ Days Past Due Still Accruing | 0 | 75,000 |
Total Nonperforming Loans | 0 | 99,000 |
Nonperforming Financial Instruments [Member] | Real Estate Mortgage Portfolio Segment [Member] | Construction Loans [Member] | ||
Nonaccrual Loans | 0 | 0 |
Loans 90+ Days Past Due Still Accruing | 0 | 0 |
Total Nonperforming Loans | 0 | 0 |
Nonperforming Financial Instruments [Member] | Real Estate Mortgage Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | ||
Nonaccrual Loans | 1,741,000 | 2,267,000 |
Loans 90+ Days Past Due Still Accruing | 0 | 0 |
Total Nonperforming Loans | 1,741,000 | 2,267,000 |
Nonperforming Financial Instruments [Member] | Commercial Portfolio Segment [Member] | ||
Nonaccrual Loans | 63,000 | 167,000 |
Loans 90+ Days Past Due Still Accruing | 0 | 0 |
Total Nonperforming Loans | 63,000 | 167,000 |
Nonperforming Financial Instruments [Member] | Consumer Portfolio Segment [Member] | Home Equity and Second Mortgage [Member] | ||
Nonaccrual Loans | 44,000 | 116,000 |
Loans 90+ Days Past Due Still Accruing | 12,000 | 0 |
Total Nonperforming Loans | 56,000 | 116,000 |
Nonperforming Financial Instruments [Member] | Consumer Portfolio Segment [Member] | Other Consumer Loan [Member] | ||
Nonaccrual Loans | 30,000 | 0 |
Loans 90+ Days Past Due Still Accruing | 2,000 | 9,000 |
Total Nonperforming Loans | 32,000 | 9,000 |
Nonperforming Financial Instruments [Member] | ||
Nonaccrual Loans | 3,611,000 | 4,222,000 |
Loans 90+ Days Past Due Still Accruing | 123,000 | 355,000 |
Total Nonperforming Loans | 3,734,000 | 4,577,000 |
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | ||
Total Nonperforming Loans | 4,640,000 | 5,120,000 |
Real Estate Mortgage Portfolio Segment [Member] | Land Loan [Member] | ||
Total Nonperforming Loans | 132,000 | 180,000 |
Real Estate Mortgage Portfolio Segment [Member] | Construction Loans [Member] | ||
Total Nonperforming Loans | 0 | 71,000 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | ||
Total Nonperforming Loans | 753,000 | 1,604,000 |
Commercial Portfolio Segment [Member] | ||
Total Nonperforming Loans | 82,000 | 167,000 |
Consumer Portfolio Segment [Member] | Home Equity and Second Mortgage [Member] | ||
Total Nonperforming Loans | 274,000 | 451,000 |
Consumer Portfolio Segment [Member] | Other Consumer Loan [Member] | ||
Total Nonperforming Loans | 286,000 | 486,000 |
Total Nonperforming Loans | $ 6,167,000 | $ 8,079,000 |
Note 4 - Aging of Recorded Inve
Note 4 - Aging of Recorded Investment in Loans (Details) - USD ($) | Jun. 30, 2016 | Dec. 31, 2015 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | ||
Past Due | $ 3,176,000 | $ 3,078,000 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Real Estate Mortgage Portfolio Segment [Member] | Land Loan [Member] | ||
Past Due | 132,000 | 55,000 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Real Estate Mortgage Portfolio Segment [Member] | Construction Loans [Member] | ||
Past Due | 0 | 71,000 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Real Estate Mortgage Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | ||
Past Due | 23,000 | 435,000 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial Portfolio Segment [Member] | ||
Past Due | 82,000 | 0 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Home Equity and Second Mortgage [Member] | ||
Past Due | 262,000 | 365,000 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Other Consumer Loan [Member] | ||
Past Due | 231,000 | 464,000 |
Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Past Due | 3,906,000 | 4,468,000 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | ||
Past Due | 489,000 | 786,000 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Real Estate Mortgage Portfolio Segment [Member] | Land Loan [Member] | ||
Past Due | 0 | 26,000 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Real Estate Mortgage Portfolio Segment [Member] | Construction Loans [Member] | ||
Past Due | 0 | 0 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Real Estate Mortgage Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | ||
Past Due | 0 | 773,000 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial Portfolio Segment [Member] | ||
Past Due | 0 | 100,000 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Home Equity and Second Mortgage [Member] | ||
Past Due | 0 | 6,000 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Other Consumer Loan [Member] | ||
Past Due | 23,000 | 13,000 |
Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Past Due | 512,000 | 1,704,000 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | ||
Past Due | 975,000 | 1,256,000 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Real Estate Mortgage Portfolio Segment [Member] | Land Loan [Member] | ||
Past Due | 0 | 99,000 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Real Estate Mortgage Portfolio Segment [Member] | Construction Loans [Member] | ||
Past Due | 0 | 0 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Real Estate Mortgage Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | ||
Past Due | 730,000 | 396,000 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial Portfolio Segment [Member] | ||
Past Due | 0 | 67,000 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Home Equity and Second Mortgage [Member] | ||
Past Due | 12,000 | 80,000 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Other Consumer Loan [Member] | ||
Past Due | 32,000 | 9,000 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Past Due | 1,749,000 | 1,907,000 |
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | ||
Past Due | 4,640,000 | 5,120,000 |
Current | 133,928,000 | 142,571,000 |
Purchased Credit Impaired Loans | 477,000 | 884,000 |
Recorded investment in loans | 139,045,000 | 148,575,000 |
Real Estate Mortgage Portfolio Segment [Member] | Land Loan [Member] | ||
Past Due | 132,000 | 180,000 |
Current | 12,506,000 | 12,858,000 |
Purchased Credit Impaired Loans | 0 | 0 |
Recorded investment in loans | 12,638,000 | 13,038,000 |
Real Estate Mortgage Portfolio Segment [Member] | Construction Loans [Member] | ||
Past Due | 0 | 71,000 |
Current | 10,528,000 | 12,545,000 |
Purchased Credit Impaired Loans | 0 | 0 |
Recorded investment in loans | 10,528,000 | 12,616,000 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | ||
Past Due | 753,000 | 1,604,000 |
Current | 92,701,000 | 82,658,000 |
Purchased Credit Impaired Loans | 293,000 | 466,000 |
Recorded investment in loans | 93,747,000 | 84,728,000 |
Commercial Portfolio Segment [Member] | ||
Past Due | 82,000 | 167,000 |
Current | 23,167,000 | 22,986,000 |
Purchased Credit Impaired Loans | 0 | 0 |
Recorded investment in loans | 23,249,000 | 23,153,000 |
Consumer Portfolio Segment [Member] | Home Equity and Second Mortgage [Member] | ||
Past Due | 274,000 | 451,000 |
Current | 41,501,000 | 38,726,000 |
Purchased Credit Impaired Loans | 0 | 0 |
Recorded investment in loans | 41,775,000 | 39,177,000 |
Consumer Portfolio Segment [Member] | Other Consumer Loan [Member] | ||
Past Due | 286,000 | 486,000 |
Current | 45,318,000 | 42,169,000 |
Purchased Credit Impaired Loans | 0 | 0 |
Recorded investment in loans | 45,604,000 | 42,655,000 |
Past Due | 6,167,000 | 8,079,000 |
Current | 359,649,000 | 354,513,000 |
Purchased Credit Impaired Loans | 770,000 | 1,350,000 |
Recorded investment in loans | $ 366,586,000 | $ 363,942,000 |
Note 4 - Recorded Investment 36
Note 4 - Recorded Investment in Loans by Risk Category (Details) - USD ($) | Jun. 30, 2016 | Dec. 31, 2015 |
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | Pass [Member] | ||
Recorded investment in loans | $ 134,210,000 | $ 140,438,000 |
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | Special Mention [Member] | ||
Recorded investment in loans | 1,368,000 | 3,657,000 |
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | Substandard [Member] | ||
Recorded investment in loans | 1,359,000 | 1,948,000 |
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | Doubtful [Member] | ||
Recorded investment in loans | 2,108,000 | 2,532,000 |
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | Unlikely to be Collected Financing Receivable [Member] | ||
Recorded investment in loans | 0 | 0 |
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | ||
Recorded investment in loans | 139,045,000 | 148,575,000 |
Real Estate Mortgage Portfolio Segment [Member] | Land Loan [Member] | Pass [Member] | ||
Recorded investment in loans | 12,445,000 | 10,077,000 |
Real Estate Mortgage Portfolio Segment [Member] | Land Loan [Member] | Special Mention [Member] | ||
Recorded investment in loans | 121,000 | 125,000 |
Real Estate Mortgage Portfolio Segment [Member] | Land Loan [Member] | Substandard [Member] | ||
Recorded investment in loans | 72,000 | 2,812,000 |
Real Estate Mortgage Portfolio Segment [Member] | Land Loan [Member] | Doubtful [Member] | ||
Recorded investment in loans | 0 | 24,000 |
Real Estate Mortgage Portfolio Segment [Member] | Land Loan [Member] | Unlikely to be Collected Financing Receivable [Member] | ||
Recorded investment in loans | 0 | 0 |
Real Estate Mortgage Portfolio Segment [Member] | Land Loan [Member] | ||
Recorded investment in loans | 12,638,000 | 13,038,000 |
Real Estate Mortgage Portfolio Segment [Member] | Construction Loans [Member] | Pass [Member] | ||
Recorded investment in loans | 10,120,000 | 12,286,000 |
Real Estate Mortgage Portfolio Segment [Member] | Construction Loans [Member] | Special Mention [Member] | ||
Recorded investment in loans | 408,000 | 330,000 |
Real Estate Mortgage Portfolio Segment [Member] | Construction Loans [Member] | Substandard [Member] | ||
Recorded investment in loans | 0 | 0 |
Real Estate Mortgage Portfolio Segment [Member] | Construction Loans [Member] | Doubtful [Member] | ||
Recorded investment in loans | 0 | 0 |
Real Estate Mortgage Portfolio Segment [Member] | Construction Loans [Member] | Unlikely to be Collected Financing Receivable [Member] | ||
Recorded investment in loans | 0 | 0 |
Real Estate Mortgage Portfolio Segment [Member] | Construction Loans [Member] | ||
Recorded investment in loans | 10,528,000 | 12,616,000 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | Pass [Member] | ||
Recorded investment in loans | 81,437,000 | 76,389,000 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | Special Mention [Member] | ||
Recorded investment in loans | 4,325,000 | 4,446,000 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | Substandard [Member] | ||
Recorded investment in loans | 5,079,000 | 1,195,000 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | Doubtful [Member] | ||
Recorded investment in loans | 2,906,000 | 2,698,000 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | Unlikely to be Collected Financing Receivable [Member] | ||
Recorded investment in loans | 0 | 0 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | ||
Recorded investment in loans | 93,747,000 | 84,728,000 |
Commercial Portfolio Segment [Member] | Pass [Member] | ||
Recorded investment in loans | 22,376,000 | 22,365,000 |
Commercial Portfolio Segment [Member] | Special Mention [Member] | ||
Recorded investment in loans | 810,000 | 471,000 |
Commercial Portfolio Segment [Member] | Substandard [Member] | ||
Recorded investment in loans | 0 | 150,000 |
Commercial Portfolio Segment [Member] | Doubtful [Member] | ||
Recorded investment in loans | 63,000 | 167,000 |
Commercial Portfolio Segment [Member] | Unlikely to be Collected Financing Receivable [Member] | ||
Recorded investment in loans | 0 | 0 |
Commercial Portfolio Segment [Member] | ||
Recorded investment in loans | 23,249,000 | 23,153,000 |
Consumer Portfolio Segment [Member] | Home Equity and Second Mortgage [Member] | Pass [Member] | ||
Recorded investment in loans | 41,557,000 | 38,956,000 |
Consumer Portfolio Segment [Member] | Home Equity and Second Mortgage [Member] | Special Mention [Member] | ||
Recorded investment in loans | 159,000 | 0 |
Consumer Portfolio Segment [Member] | Home Equity and Second Mortgage [Member] | Substandard [Member] | ||
Recorded investment in loans | 15,000 | 105,000 |
Consumer Portfolio Segment [Member] | Home Equity and Second Mortgage [Member] | Doubtful [Member] | ||
Recorded investment in loans | 44,000 | 116,000 |
Consumer Portfolio Segment [Member] | Home Equity and Second Mortgage [Member] | Unlikely to be Collected Financing Receivable [Member] | ||
Recorded investment in loans | 0 | 0 |
Consumer Portfolio Segment [Member] | Home Equity and Second Mortgage [Member] | ||
Recorded investment in loans | 41,775,000 | 39,177,000 |
Consumer Portfolio Segment [Member] | Other Consumer Loan [Member] | Pass [Member] | ||
Recorded investment in loans | 45,525,000 | 42,553,000 |
Consumer Portfolio Segment [Member] | Other Consumer Loan [Member] | Special Mention [Member] | ||
Recorded investment in loans | 49,000 | 53,000 |
Consumer Portfolio Segment [Member] | Other Consumer Loan [Member] | Substandard [Member] | ||
Recorded investment in loans | 0 | 49,000 |
Consumer Portfolio Segment [Member] | Other Consumer Loan [Member] | Doubtful [Member] | ||
Recorded investment in loans | 30,000 | 0 |
Consumer Portfolio Segment [Member] | Other Consumer Loan [Member] | Unlikely to be Collected Financing Receivable [Member] | ||
Recorded investment in loans | 0 | 0 |
Consumer Portfolio Segment [Member] | Other Consumer Loan [Member] | ||
Recorded investment in loans | 45,604,000 | 42,655,000 |
Pass [Member] | ||
Recorded investment in loans | 347,670,000 | 343,064,000 |
Special Mention [Member] | ||
Recorded investment in loans | 7,240,000 | 9,082,000 |
Substandard [Member] | ||
Recorded investment in loans | 6,525,000 | 6,259,000 |
Doubtful [Member] | ||
Recorded investment in loans | 5,151,000 | 5,537,000 |
Unlikely to be Collected Financing Receivable [Member] | ||
Recorded investment in loans | 0 | 0 |
Recorded investment in loans | $ 366,586,000 | $ 363,942,000 |
Note 4 - Troubled Debt Restruct
Note 4 - Troubled Debt Restructuring by Accrual Status (Details) - USD ($) | Jun. 30, 2016 | Dec. 31, 2015 |
Nonperforming Financial Instruments [Member] | Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | ||
TDR Accruing | $ 338,000 | $ 342,000 |
TDR Nonaccrual | 328,000 | 315,000 |
TDR Total | 666,000 | 657,000 |
TDR Related Allowance for Loan Losses | 0 | 0 |
Nonperforming Financial Instruments [Member] | Real Estate Mortgage Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | ||
TDR Accruing | 1,327,000 | 1,348,000 |
TDR Nonaccrual | 249,000 | 294,000 |
TDR Total | 1,576,000 | 1,642,000 |
TDR Related Allowance for Loan Losses | 0 | 0 |
Nonperforming Financial Instruments [Member] | Consumer Portfolio Segment [Member] | Home Equity and Second Mortgage [Member] | ||
TDR Accruing | 19,000 | 20,000 |
TDR Nonaccrual | 0 | 0 |
TDR Total | 19,000 | 20,000 |
TDR Related Allowance for Loan Losses | 0 | 0 |
Nonperforming Financial Instruments [Member] | ||
TDR Accruing | 1,684,000 | 1,710,000 |
TDR Nonaccrual | 577,000 | 609,000 |
TDR Total | 2,261,000 | 2,319,000 |
TDR Related Allowance for Loan Losses | 0 | 0 |
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | ||
TDR Total | 139,045,000 | 148,575,000 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | ||
TDR Total | 93,747,000 | 84,728,000 |
Consumer Portfolio Segment [Member] | Home Equity and Second Mortgage [Member] | ||
TDR Total | 41,775,000 | 39,177,000 |
TDR Total | $ 366,586,000 | $ 363,942,000 |
Note 4 - Summary of PCI Loans (
Note 4 - Summary of PCI Loans (Details) - Purchased Credit Impaired Loans [Member] - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Residential Portfolio Segment [Member] | ||
Residential real estate | $ 477 | $ 884 |
Commercial Portfolio Segment [Member] | ||
Residential real estate | 293 | 466 |
Residential real estate | 770 | 1,350 |
Allowance for loan losses | (6) | |
Carrying amount, net of allowance | $ 764 | $ 1,350 |
Note 4 - Accretable Yield, or I
Note 4 - Accretable Yield, or Income Expected to be Collected (Details) - Purchased Credit Impaired Loans [Member] - USD ($) | 3 Months Ended | 6 Months Ended |
Jun. 30, 2016 | Jun. 30, 2016 | |
Balance at beginning of period | $ 145,000 | $ 319,000 |
New loans purchased | 0 | 0 |
Accretion to income | (19,000) | (44,000) |
Disposals and other adjustments | (21,000) | (74,000) |
Reclassification (to) from nonaccretable difference | 60,000 | (36,000) |
Balance at end of period | $ 165,000 | $ 165,000 |
Note 5 - Earnings Per Share (De
Note 5 - Earnings Per Share (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Net income attributable to First Capital, Inc. | $ 1,783,000 | $ 1,228,000 | $ 3,365,000 | $ 2,694,000 |
Weighted average common shares outstanding (in shares) | 3,339,063 | 2,740,689 | 3,339,082 | 2,740,596 |
Net income attributable to First Capital, Inc. per common share, basic (in dollars per share) | $ 0.53 | $ 0.45 | $ 1.01 | $ 0.98 |
Add: Dilutive effect of restricted stock (in shares) | 2,244 | 506 | 1,536 | 156 |
Weighted average common shares outstanding, as adjusted (in shares) | 3,341,307 | 2,741,195 | 3,340,618 | 2,740,752 |
Net income attributable to First Capital, Inc. per common share, diluted (in dollars per share) | $ 0.53 | $ 0.45 | $ 1.01 | $ 0.98 |
Note 6 - Stock Option Plan (Det
Note 6 - Stock Option Plan (Details Textual) - USD ($) | Feb. 17, 2015 | May 20, 2009 | Jun. 30, 2016 | Mar. 31, 2016 | Jun. 30, 2016 |
Equity Incentive Plan 2009 [Member] | Common Stock [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 223,000 | ||||
Equity Incentive Plan 2009 [Member] | Employee Stock Option [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | ||||
Equity Incentive Plan 2009 [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 0 | ||||
Maximum Fair Value of First Exercisable Stock Incentive Options | $ 100,000 | ||||
Restricted Stock [Member] | Officers, Directors and Key Employees [Member] | Vesting each Year on July 1 [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 20.00% | ||||
Restricted Stock [Member] | Officers, Directors and Key Employees [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 19,500 | ||||
Share Price | $ 24.50 | ||||
Stock Issued During Period, Value, Restricted Stock Award, Gross | $ 478,000 | ||||
Restricted Stock [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | |||||
Allocated Share-based Compensation Expense | $ 19,000 | $ 39,000 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | 500 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value | $ 16,000 | ||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options | $ 343,000 | $ 343,000 | |||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 4 years |
Note 6 - Nonvested Restricted S
Note 6 - Nonvested Restricted Shares Activity (Details) - Restricted Stock [Member] | 6 Months Ended |
Jun. 30, 2016$ / sharesshares | |
Nonvested at January 1, 2016 (in shares) | shares | 18,000 |
Nonvested at January 1, 2016 (in dollars per share) | $ / shares | $ 24.50 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | shares | |
Granted (in dollars per share) | $ / shares | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | shares | 500 |
Vested (in dollars per share) | $ / shares | $ 24.50 |
Forfeited (in shares) | shares | |
Forfeited (in dollars per share) | $ / shares | |
Nonvested at June 30, 2016 (in shares) | shares | 17,500 |
Nonvested at June 30, 2016 (in dollars per share) | $ / shares | $ 24.50 |
Note 7 - Supplemental Disclos43
Note 7 - Supplemental Disclosures of Cash Flow Information (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | |
Interest | $ 978 | $ 516 |
Taxes (net of refunds received) | 54 | 1,035 |
Transfers from loans to real estate acquired through foreclosure | $ 446 | $ 562 |
Note 8 - Fair Value Measureme44
Note 8 - Fair Value Measurements (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||
Jun. 30, 2016 | Jun. 30, 2015 | Mar. 31, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | Dec. 31, 2015 | |
Impaired Loan [Member] | Fair Value, Inputs, Level 3 [Member] | Minimum [Member] | ||||||
Fair Value Inputs, Estimated Selling Costs | 30.00% | 10.00% | ||||
Impaired Loan [Member] | Fair Value, Inputs, Level 3 [Member] | Maximum [Member] | ||||||
Fair Value Inputs, Estimated Selling Costs | 60.00% | 59.00% | ||||
Impaired Loan [Member] | Fair Value, Inputs, Level 3 [Member] | Weighted Average [Member] | ||||||
Fair Value Inputs, Estimated Selling Costs | 48.00% | 16.00% | ||||
Impaired Loan [Member] | ||||||
Provision for Loan and Lease Losses | $ 0 | $ 47,000 | $ 106,000 | $ 82,000 | ||
Foreclosed Real Estate [Member] | Fair Value, Inputs, Level 3 [Member] | Minimum [Member] | ||||||
Fair Value Inputs, Estimated Selling Costs | 0.00% | 9.00% | ||||
Foreclosed Real Estate [Member] | Fair Value, Inputs, Level 3 [Member] | Maximum [Member] | ||||||
Fair Value Inputs, Estimated Selling Costs | 42.00% | 43.00% | ||||
Foreclosed Real Estate [Member] | Fair Value, Inputs, Level 3 [Member] | Weighted Average [Member] | ||||||
Fair Value Inputs, Estimated Selling Costs | 39.00% | 30.00% | ||||
Foreclosed Real Estate [Member] | ||||||
SEC Schedule III, Real Estate, Write-down or Reserve, Amount | 83,000 | 0 | $ 0 | $ 83,000 | 0 | |
Provision for Loan and Lease Losses | 150,000 | $ 50,000 | 225,000 | $ 50,000 | ||
Financial and Nonfinancial Liabilities, Fair Value Disclosure | $ 0 | $ 0 | $ 0 |
Note 8 - Assets Measured at Fai
Note 8 - Assets Measured at Fair Value on Recurring and Nonrecurring Basis (Details) - USD ($) | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | |||
Fair Value | $ 0 | $ 0 | |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Agency Collateralized Mortgage Obligations [Member] | |||
Fair Value | 0 | 0 | |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | US Government Agencies Debt Securities [Member] | |||
Fair Value | 0 | 0 | |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Municipal Notes [Member] | |||
Fair Value | 0 | 0 | |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Mutual Funds [Member] | |||
Fair Value | 4,060,000 | 118,000 | |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | |||
Fair Value | 4,060,000 | 118,000 | |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Residential Mortgage Segment [Member] | |||
Impaired loans | 0 | 0 | |
Foreclosed real estate | 0 | 0 | |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Commercial Real Estate Segment [Member] | |||
Impaired loans | 0 | 0 | |
Foreclosed real estate | 0 | 0 | |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Commercial Business Segment [Member] | |||
Impaired loans | 0 | 0 | |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Home Equity and Second Mortgage [Member] | |||
Impaired loans | 0 | 0 | |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Other Consumer Segment [Member] | |||
Impaired loans | 0 | ||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Land Segment [Member] | |||
Impaired loans | 0 | ||
Foreclosed real estate | $ 0 | ||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member] | |||
Impaired loans | 0 | 0 | |
Loans held for sale | 0 | 0 | |
Foreclosed real estate | 0 | 0 | |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | |||
Fair Value | 86,665,000 | 42,010,000 | |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Agency Collateralized Mortgage Obligations [Member] | |||
Fair Value | 17,208,000 | 9,331,000 | |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | US Government Agencies Debt Securities [Member] | |||
Fair Value | 87,018,000 | 84,453,000 | |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Municipal Notes [Member] | |||
Fair Value | 54,653,000 | 50,839,000 | |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Mutual Funds [Member] | |||
Fair Value | 0 | 0 | |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | |||
Fair Value | 245,544,000 | 186,633,000 | |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Residential Mortgage Segment [Member] | |||
Impaired loans | 0 | 0 | |
Foreclosed real estate | 0 | 0 | |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Commercial Real Estate Segment [Member] | |||
Impaired loans | 0 | 0 | |
Foreclosed real estate | 0 | 0 | |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Commercial Business Segment [Member] | |||
Impaired loans | 0 | 0 | |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Home Equity and Second Mortgage [Member] | |||
Impaired loans | 0 | 0 | |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Other Consumer Segment [Member] | |||
Impaired loans | 0 | ||
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Land Segment [Member] | |||
Impaired loans | 0 | ||
Foreclosed real estate | 0 | ||
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member] | |||
Impaired loans | 0 | 0 | |
Loans held for sale | 1,191,000 | 3,081,000 | |
Foreclosed real estate | 0 | 0 | |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | |||
Fair Value | 0 | 0 | |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Agency Collateralized Mortgage Obligations [Member] | |||
Fair Value | 0 | 0 | |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | US Government Agencies Debt Securities [Member] | |||
Fair Value | 0 | 0 | |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Municipal Notes [Member] | |||
Fair Value | 0 | 0 | |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Mutual Funds [Member] | |||
Fair Value | 0 | 0 | |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | |||
Fair Value | 0 | 0 | |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Residential Mortgage Segment [Member] | |||
Impaired loans | 2,165,000 | 1,990,000 | |
Foreclosed real estate | 582,000 | 557,000 | |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Commercial Real Estate Segment [Member] | |||
Impaired loans | 4,105,000 | 3,574,000 | |
Foreclosed real estate | 3,670,000 | 4,130,000 | |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Commercial Business Segment [Member] | |||
Impaired loans | 63,000 | 67,000 | |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Home Equity and Second Mortgage [Member] | |||
Impaired loans | 50,000 | 125,000 | |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Other Consumer Segment [Member] | |||
Impaired loans | 24,000 | ||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Land Segment [Member] | |||
Impaired loans | 203,000 | ||
Foreclosed real estate | 24,000 | ||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | |||
Impaired loans | 6,407,000 | 5,780,000 | |
Loans held for sale | 0 | 0 | |
Foreclosed real estate | 4,252,000 | 4,890,000 | |
Fair Value, Measurements, Recurring [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | |||
Fair Value | 86,665,000 | 42,010,000 | |
Fair Value, Measurements, Recurring [Member] | Agency Collateralized Mortgage Obligations [Member] | |||
Fair Value | 17,208,000 | 9,331,000 | |
Fair Value, Measurements, Recurring [Member] | US Government Agencies Debt Securities [Member] | |||
Fair Value | 87,018,000 | 84,453,000 | |
Fair Value, Measurements, Recurring [Member] | Municipal Notes [Member] | |||
Fair Value | 54,653,000 | 50,839,000 | |
Fair Value, Measurements, Recurring [Member] | Mutual Funds [Member] | |||
Fair Value | 4,060,000 | 118,000 | |
Fair Value, Measurements, Recurring [Member] | |||
Fair Value | 249,604,000 | 186,751,000 | |
Fair Value, Measurements, Nonrecurring [Member] | Residential Mortgage Segment [Member] | |||
Impaired loans | 2,165,000 | 1,990,000 | |
Foreclosed real estate | 582,000 | 557,000 | |
Fair Value, Measurements, Nonrecurring [Member] | Commercial Real Estate Segment [Member] | |||
Impaired loans | 4,105,000 | 3,574,000 | |
Foreclosed real estate | 3,670,000 | 4,130,000 | |
Fair Value, Measurements, Nonrecurring [Member] | Commercial Business Segment [Member] | |||
Impaired loans | 63,000 | 67,000 | |
Fair Value, Measurements, Nonrecurring [Member] | Home Equity and Second Mortgage [Member] | |||
Impaired loans | 50,000 | 125,000 | |
Fair Value, Measurements, Nonrecurring [Member] | Other Consumer Segment [Member] | |||
Impaired loans | 24,000 | ||
Fair Value, Measurements, Nonrecurring [Member] | Land Segment [Member] | |||
Impaired loans | 203,000 | ||
Foreclosed real estate | $ 24,000 | ||
Fair Value, Measurements, Nonrecurring [Member] | |||
Impaired loans | 6,407,000 | 5,780,000 | |
Loans held for sale | 1,191,000 | 3,081,000 | |
Foreclosed real estate | 4,252,000 | 4,890,000 | |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | |||
Fair Value | 86,665,000 | 42,010,000 | |
Agency Collateralized Mortgage Obligations [Member] | |||
Fair Value | 17,208,000 | 9,331,000 | |
US Government Agencies Debt Securities [Member] | |||
Fair Value | 87,018,000 | 84,453,000 | |
Municipal Notes [Member] | |||
Fair Value | 54,653,000 | 50,839,000 | |
Mutual Funds [Member] | |||
Fair Value | 4,060,000 | 118,000 | |
Fair Value | $ 249,604,000 | $ 186,751,000 |
Note 8 - Carrying Value and Est
Note 8 - Carrying Value and Estimated Fair Value of Financial Instruments (Details) - USD ($) | Jun. 30, 2016 | Dec. 31, 2015 |
Reported Value Measurement [Member] | ||
Cash and cash equivalents | $ 70,528,000 | $ 109,174,000 |
Interest-bearing time deposits | 16,035,000 | 16,655,000 |
Fair Value | 249,604,000 | 186,751,000 |
Fair Value | 3,000 | 4,000 |
Loans held for sale | 1,191,000 | 3,081,000 |
Loans, net | 362,129,000 | 359,166,000 |
FHLB and other stock | 1,650,000 | 1,650,000 |
Accrued interest receivable | 2,342,000 | 2,244,000 |
Cost method investment (included in other assets) | 711,000 | 711,000 |
Deposits | 657,457,000 | 637,177,000 |
Accrued interest payable | 145,000 | 167,000 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash and cash equivalents | 70,528,000 | 109,174,000 |
Interest-bearing time deposits | 0 | 0 |
Fair Value | 4,060,000 | 118,000 |
Fair Value | 0 | 0 |
Loans held for sale | 0 | 0 |
Loans, net | 0 | 0 |
FHLB and other stock | 0 | 0 |
Accrued interest receivable | 0 | 0 |
Cost method investment (included in other assets) | 0 | 0 |
Deposits | 0 | 0 |
Accrued interest payable | 0 | 0 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Cash and cash equivalents | 0 | 0 |
Interest-bearing time deposits | 16,077,000 | 16,696,000 |
Fair Value | 245,544,000 | 186,633,000 |
Fair Value | 3,000 | 4,000 |
Loans held for sale | 1,220,000 | 3,145,000 |
Loans, net | 0 | 0 |
FHLB and other stock | 1,650,000 | 1,650,000 |
Accrued interest receivable | 2,342,000 | 2,244,000 |
Cost method investment (included in other assets) | 711,000 | 711,000 |
Deposits | 0 | 0 |
Accrued interest payable | 145,000 | 167,000 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Cash and cash equivalents | 0 | 0 |
Interest-bearing time deposits | 0 | 0 |
Fair Value | 0 | 0 |
Fair Value | 0 | 0 |
Loans held for sale | 0 | 0 |
Loans, net | 371,939,000 | 359,784,000 |
FHLB and other stock | 0 | 0 |
Accrued interest receivable | 0 | 0 |
Cost method investment (included in other assets) | 0 | 0 |
Deposits | 657,181,000 | 636,406,000 |
Accrued interest payable | 0 | 0 |
Estimate of Fair Value Measurement [Member] | ||
Cash and cash equivalents | 70,528,000 | 109,174,000 |
Interest-bearing time deposits | 16,077,000 | 16,696,000 |
Fair Value | 249,604,000 | 186,751,000 |
Fair Value | 3,000 | 4,000 |
Loans held for sale | 1,220,000 | 3,145,000 |
Loans, net | 371,939,000 | 359,784,000 |
FHLB and other stock | 1,650,000 | 1,650,000 |
Accrued interest receivable | 2,342,000 | 2,244,000 |
Cost method investment (included in other assets) | 711,000 | 711,000 |
Deposits | 657,181,000 | 636,406,000 |
Accrued interest payable | 145,000 | 167,000 |
Fair Value | 249,604,000 | 186,751,000 |
Fair Value | $ 3,000 | $ 4,000 |