Document And Entity Information
Document And Entity Information - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Mar. 01, 2018 | Jun. 30, 2017 | |
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 | Accelerated Filer | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Common Stock, Shares Outstanding (in shares) | 3,356,964 | ||
Entity Public Float | $ 99.5 | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2017 | ||
Document Fiscal Year Focus | 2,017 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
ASSETS | ||
Cash and due from banks | $ 19,478 | $ 18,837 |
Interest-bearing deposits with banks | 730 | 1,939 |
Federal funds sold | 5,707 | 25,133 |
Total cash and cash equivalents | 25,915 | 45,909 |
Interest-bearing time deposits | 9,258 | 14,735 |
Securities available for sale, at fair value | 271,172 | 255,770 |
Securities-held to maturity | 1 | 2 |
Loans, net | 409,618 | 381,154 |
Loans held for sale | 2,630 | 4,507 |
Federal Home Loan Bank and other stock, at cost | 1,979 | 1,650 |
Foreclosed real estate | 3,971 | 4,674 |
Premises and equipment | 15,031 | 14,841 |
Accrued interest receivable | 2,694 | 2,363 |
Cash value of life insurance | 7,279 | 7,082 |
Goodwill | 6,472 | 6,472 |
Core deposit intangible | 1,112 | 1,259 |
Other assets | 1,824 | 3,240 |
Total Assets | 758,956 | 743,658 |
LIABILITIES | ||
Noninterest-bearing | 129,828 | 121,304 |
Interest-bearing | 534,734 | 543,346 |
Total deposits | 664,562 | 664,650 |
Advances from Federal Home Loan Bank | 10,000 | 0 |
Accrued interest payable | 107 | 133 |
Accrued expenses and other liabilities | 3,237 | 3,033 |
Total liabilities | 677,906 | 667,816 |
Commitments and Contingencies | ||
EQUITY | ||
Preferred stock of $.01 par value per share Authorized 1,000,000 shares; none issued | ||
Common stock of $.01 par value per share Authorized 7,500,000 shares; issued 3,762,933 shares; outstanding 3,336,964 shares (3,337,552 shares in 2016) | 38 | 38 |
Additional paid-in capital | 39,515 | 39,515 |
Retained earnings-substantially restricted | 51,972 | 47,051 |
Unearned stock compensation | (212) | (300) |
Accumulated other comprehensive loss | (2,060) | (2,277) |
Less treasury stock, at cost - 425,969 shares (425,381 shares in 2016) | (8,315) | (8,297) |
Total First Capital, Inc. stockholders' equity | 80,938 | 75,730 |
Noncontrolling interest in subsidiary | 112 | 112 |
Total equity | 81,050 | 75,842 |
Total Liabilities and Equity | $ 758,956 | $ 743,658 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - $ / shares | Dec. 31, 2017 | Dec. 31, 2016 |
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock, authorized (in shares) | 1,000,000 | 1,000,000 |
Preferred stock, issued (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, authorized (in shares) | 7,500,000 | 7,500,000 |
Common stock, issued (in shares) | 3,762,933 | 3,762,933 |
Common stock, outstanding (in shares) | 3,336,964 | 3,337,552 |
Treasury stock, shares (in shares) | 425,969 | 425,381 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
INTEREST INCOME | |||
Loans, including fees | $ 20,700 | $ 20,078 | $ 16,213 |
Securities: | |||
Taxable | 3,835 | 3,264 | 1,203 |
Tax-exempt | 1,437 | 1,163 | 995 |
Dividends | 78 | 67 | 107 |
Other interest income | 372 | 522 | 195 |
Total interest income | 26,422 | 25,094 | 18,713 |
INTEREST EXPENSE | |||
Deposits | 1,374 | 1,763 | 1,000 |
Advances from Federal Home Loan Bank | 18 | 2 | |
Other borrowings | 2 | ||
Total interest expense | 1,392 | 1,763 | 1,004 |
Net interest income | 25,030 | 23,331 | 17,709 |
Provision for loan losses | 915 | 645 | 50 |
Net interest income after provision for loan losses | 24,115 | 22,686 | 17,659 |
NONINTEREST INCOME | |||
Service charges and fees on deposit accounts | 4,427 | 3,961 | 3,440 |
Commission and fee income | 416 | 384 | 414 |
Gain on sale of securities | 54 | 176 | |
Gain on sale of loans | 1,385 | 1,179 | 843 |
Mortgage brokerage fee income | 63 | ||
Increase in cash value of life insurance | 197 | 184 | 135 |
Other income | 219 | 285 | 229 |
Total noninterest income | 6,698 | 6,169 | 5,124 |
NONINTEREST EXPENSE | |||
Compensation and benefits | 11,215 | 10,498 | 7,921 |
Occupancy and equipment | 1,543 | 1,640 | 1,287 |
Data processing | 2,727 | 2,441 | 1,733 |
Professional fees | 675 | 830 | 628 |
Acquisition expense | 1,002 | ||
Advertising | 334 | 313 | 317 |
Net loss on foreclosed real estate | 316 | 144 | 162 |
Other expenses | 3,448 | 3,589 | 2,558 |
Total noninterest expense | 20,258 | 19,455 | 15,608 |
Income before income taxes | 10,555 | 9,400 | 7,175 |
Income tax expense | 3,103 | 2,523 | 1,964 |
Net Income | 7,452 | 6,877 | 5,211 |
Less net income attributable to the noncontrolling interest in subsidiary | 13 | 13 | 13 |
Net Income Attributable to First Capital, Inc. | $ 7,439 | $ 6,864 | $ 5,198 |
Earnings per common share attributable to First Capital, Inc.: | |||
Basic (in dollars per share) | $ 2.24 | $ 2.05 | $ 1.87 |
Diluted (in dollars per share) | 2.23 | 2.05 | 1.87 |
Dividends per share on common shares (in dollars per share) | $ 0.86 | $ 0.84 | $ 0.84 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Net Income | $ 7,452 | $ 6,877 | $ 5,211 |
OTHER COMPREHENSIVE INCOME (LOSS) | |||
Unrealized holding gains (losses) arising during the period | 913 | (4,354) | (476) |
Income tax (expense) benefit | 308 | (1,696) | (173) |
Net of tax amount | 605 | (2,658) | (303) |
Less: reclassification adjustment for realized gains included in net income | (54) | (176) | |
Income tax expense | 18 | 60 | |
Net of tax amount | (36) | (116) | |
Other Comprehensive Income (Loss), net of tax | 569 | (2,774) | (303) |
Total Comprehensive Income | 8,021 | 4,103 | 4,908 |
Less: comprehensive income attributable to the noncontrolling interest in subsidiary | 13 | 13 | 13 |
Comprehensive Income Attributable to First Capital, Inc. | $ 8,008 | $ 4,090 | $ 4,895 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands | 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 | $ 24,313 | $ 40,229 | $ 800 | $ (8,253) | $ 112 | $ 57,233 | |
Net Income | 5,198 | 13 | 5,211 | |||||
Other comprehensive loss | (303) | (303) | ||||||
Cash dividends | (2,436) | (13) | (2,449) | |||||
Restricted stock grants, net of forfeitures | 453 | (453) | ||||||
Stock compensation expense | 71 | 71 | ||||||
Purchase of treasury shares | (10) | (10) | ||||||
Issuance of common stock in acquisition | 6 | 14,749 | 14,755 | |||||
Balances at Dec. 31, 2015 | 38 | 39,515 | 42,991 | 497 | (382) | (8,263) | 112 | 74,508 |
Net Income | 6,864 | 13 | 6,877 | |||||
Other comprehensive loss | (2,774) | (2,774) | ||||||
Cash dividends | (2,804) | (13) | (2,817) | |||||
Stock compensation expense | 82 | 82 | ||||||
Purchase of treasury shares | (34) | (34) | ||||||
Issuance of common stock in acquisition | ||||||||
Balances at Dec. 31, 2016 | 38 | 39,515 | 47,051 | (2,277) | (300) | (8,297) | 112 | 75,842 |
Net Income | 7,439 | 13 | 7,452 | |||||
Other comprehensive loss | 569 | 569 | ||||||
Cash dividends | (2,870) | (13) | (2,883) | |||||
Stock compensation expense | 88 | 88 | ||||||
Purchase of treasury shares | (18) | (18) | ||||||
Issuance of common stock in acquisition | ||||||||
Reclassification from AOCI to retained earnings for change in federal tax rate | 352 | (352) | ||||||
Balances at Dec. 31, 2017 | $ 38 | $ 39,515 | $ 51,972 | $ (2,060) | $ (212) | $ (8,315) | $ 112 | $ 81,050 |
Consolidated Statements of Cha7
Consolidated Statements of Changes in Stockholders' Equity (Parentheticals) - shares | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Treasury Stock [Member] | |||
Purchase of treasury shares (in shares) | 588 | 1,051 | 416 |
Common Stock [Member] | |||
Issuance of common stock in acquisition (in shares) | 580,017 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
CASH FLOWS FROM OPERATING ACTIVITIES | |||
Net income | $ 7,452,000 | $ 6,877,000 | $ 5,211,000 |
Adjustments to reconcile net income to net cash and cash equivalents provided by operating activities: | |||
Amortization of premium and accretion of discount on securities, net | 1,731,000 | 1,268,000 | 693,000 |
Depreciation and amortization expense | 1,226,000 | 1,187,000 | 756,000 |
Deferred income taxes | 348,000 | 220,000 | 672,000 |
Stock compensation expense | 88,000 | 82,000 | 71,000 |
Increase in cash value of life insurance | (197,000) | (184,000) | (135,000) |
Gain on life insurance | (18,000) | (110,000) | |
Gain on sale of securities | (54,000) | (176,000) | |
Provision for loan losses | 915,000 | 645,000 | 50,000 |
Proceeds from sale of loans | 66,674,000 | 51,343,000 | 31,442,000 |
Loans originated for sale | (63,412,000) | (51,590,000) | (32,073,000) |
Gain on sale of loans | (1,385,000) | (1,179,000) | (843,000) |
Net realized and unrealized loss on foreclosed real estate | 260,000 | 50,000 | 115,000 |
Net (gain) loss on sale of premises and equipment | (1,000) | 11,000 | 61,000 |
Net gain on sale of cost method equity investment | (145,000) | ||
Decrease (increase) in accrued interest receivable | (331,000) | (119,000) | 467,000 |
Decrease in accrued interest payable | (26,000) | (34,000) | (367,000) |
Net change in other assets/liabilities | 149,000 | (16,000) | (4,000) |
Net Cash Provided By Operating Activities | 13,419,000 | 8,240,000 | 6,006,000 |
CASH FLOWS FROM INVESTING ACTIVITIES | |||
Net (increase) decrease in interest-bearing time deposits | 5,477,000 | 1,920,000 | (3,405,000) |
Purchase of securities available for sale | (48,890,000) | (184,752,000) | (34,028,000) |
Proceeds from maturities of securities available for sale | 5,515,000 | 85,806,000 | 17,430,000 |
Proceeds from sales of securities available for sale | 1,644,000 | 4,583,000 | 45,444,000 |
Principal collected on mortgage-backed obligations | 25,559,000 | 19,765,000 | 13,457,000 |
Net increase in loans receivable | (29,946,000) | (23,689,000) | (3,694,000) |
Proceeds from redemption of Federal Home Loan Bank stock | 1,886,000 | ||
Purchase of Federal Home Loan Bank stock | (329,000) | ||
Proceeds from sale of foreclosed real estate | 1,010,000 | 1,222,000 | 230,000 |
Purchase of premises and equipment | (1,269,000) | (1,992,000) | (1,105,000) |
Proceeds from sale of premises and equipment | 1,000 | 36,000 | 37,000 |
Proceeds from sale of cost method equity investment | 856,000 | ||
Proceeds from settlement of bank-owned life insurance policies | 804,000 | ||
Net cash and cash equivalents received in acquisition | 18,710,000 | ||
Net Cash Provided By (Used In) Investing Activities | (40,424,000) | (96,245,000) | 54,962,000 |
CASH FLOWS FROM FINANCING ACTIVITIES | |||
Net increase (decrease) in deposits | (88,000) | 27,473,000 | 15,457,000 |
Advances from Federal Home Loan Bank | 27,100,000 | 15,500,000 | |
Repayment of advances from Federal Home Loan Bank | (17,100,000) | (15,500,000) | |
Purchase of treasury stock | (18,000) | (34,000) | (10,000) |
Dividends paid | (2,883,000) | (2,817,000) | (2,449,000) |
Net Cash Provided By Financing Activities | 7,011,000 | 24,622,000 | 12,998,000 |
Net Increase (Decrease) in Cash and Cash Equivalents | (19,994,000) | (63,383,000) | 73,966,000 |
Cash and cash equivalents at beginning of year | 45,909,000 | 109,292,000 | 35,326,000 |
Cash and Cash Equivalents at End of Year | $ 25,915,000 | $ 45,909,000 | $ 109,292,000 |
Note 1 - Summary of Significant
Note 1 - Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | ( 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Nature of Operations First Capital, Inc. (the “Company”) is the savings and loan holding company of First Harrison Bank (the “Bank”), a wholly-owned subsidiary. The Bank is a federally-chartered savings bank which provides a variety of banking services to individuals and business customers through 18 ten third may not Basis of Consolidation and Reclassifications The consolidated financial statements include the accounts of the Company and its subsidiaries and have been prepared in accordance with generally accepted accounting principles in the United States of America and conform to general practices in the banking industry. Intercompany balances and transactions have been eliminated. Certain prior year amounts have been reclassified to conform to the current year presentation. The reclassifications had no Statements of Cash Flows For purposes of the statements of cash flows, the Company has defined cash and cash equivalents as cash on hand, amounts due from banks (including cash items in process of clearing), interest-bearing deposits with other banks with an original maturity of 90 Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for loan losses and the valuation of real estate acquired in connection with foreclosures or in satisfaction of loans. In connection with the determination of the allowance for loan losses and the valuation of foreclosed real estate, management obtains independent appraisals for significant properties. A majority of the Company’s loan portfolio consists of single-family residential and commercial real estate loans in the Louisville, Kentucky metropolitan area. Accordingly, the ultimate collectability of a substantial portion of the Company’s loan portfolio and the recovery of the carrying amount of foreclosed real estate are susceptible to changes in local market conditions. While management uses available information to recognize losses on loans and foreclosed real estate, further reductions in the carrying amounts of loans and foreclosed real estate may may may Investment Securities Securities Available for Sale first Amortization of premiums and accretion of discounts are recognized in interest income using methods approximating the interest method over the period to maturity, adjusted for anticipated prepayments. Unrealized gains and losses, net of tax, on securities available for sale are included in other comprehensive income and the accumulated unrealized holding gains and losses are reported as a separate component of equity until realized. Realized gains and losses on the sale of securities available for sale are determined using the specific identification method and are included in other noninterest income and, when applicable, are reported as a reclassification adjustment, net of tax, in other comprehensive income. Securities Held to Maturity Declines in the fair value of individual available for sale and held to maturity securities below their amortized cost that are other than temporary result in write-downs of the individual securities to their fair value. The related write-downs are included in earnings as realized losses. In estimating other-than-temporary impairment losses, management considers ( 1 2 3 Investments in non-marketable equity securities such as FHLB stock and companies in which the Company has less than a 20% Loans and Allowance for Loan Losses Loans Held for Investment 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 area. The ability of the Company’s customers to honor their contracts is 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. Nonaccrual Loans The recognition of income on a loan is discontinued and previously accrued interest is reversed when interest or principal payments become 90 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 Impaired Loans 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 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. not Troubled Debt Restructurings The modification of a loan is considered to be a troubled debt restructuring (“TDR”) if the debtor is experiencing financial difficulties and the Company grants a concession to the debtor that it would not not may not not may not A TDR can involve loans remaining on nonaccrual, moving to nonaccrual, or continuing on accrual status, depending on the individual facts and circumstances of the borrower. A TDR on nonaccrual status is restored to accrual status when the borrower has demonstrated the ability to make future payments in accordance with the restructured terms, including consistent and timely payments of at least six Allowance for Loan Losses The allowance for loan losses is established as losses are estimated to have occurred through a 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 collectability of the loans in light of historical experience, the nature and volume of the loan portfolio, adverse situations that may 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 or substandard. For such loans that are classified as impaired, an allowance is established when the underlying discounted collateral value (or present value of estimated future cash flows) 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 five Management also applies additional loss factor multiples to loans classified as watch, special mention and substandard that are not 5 December 31, 2017 2016. 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. The following portfolio segments are considered in the allowance for loan loss analysis: residential real estate, land, construction, commercial real estate, commercial business, home equity and second Residential real estate loans primarily consist of loans to individuals for the purchase or refinance of their primary residence, with a smaller portion of the segment secured by non-owner-occupied residential investment properties and multi-family residential investment properties. The risks associated with residential real estate loans are closely correlated to the local housing market and general economic conditions, as repayment of the loans is primarily dependent on the borrowers’ or tenants’ personal cash flow and employment status. Land loans primarily consist of loans secured by farmland and vacant land held for investment purposes. The risks associated with land loans are related to the market value of the property taken as collateral and the underlying cash flows for loans secured by farmland, and general economic conditions. Construction loans primarily consist of loans secured by single-family residential properties, multi-family properties and commercial projects, and include both owner-occupied and speculative investment properties. Risks inherent in construction lending are related to the market value of the property held as collateral, the cost and timing of constructing or improving a property, the borrower’s ability to use funds generated by a project to service a loan until a project is completed, movements in interest rates and the real estate market during the construction phase, and the ability of the borrower to obtain permanent financing. Commercial real estate loans are comprised of loans secured by various types of collateral including office buildings, warehouses, retail space and mixed use buildings located in the Company’s primary lending area. Risks related to commercial real estate lending are related to the market value of the property taken as collateral, the underlying cash flows and general economic condition of the local real estate market. Repayment of these loans is generally dependent on the ability of the borrower to attract tenants at lease rates that provide for adequate debt service and can be impacted by local economic conditions which impact vacancy rates. The Company generally obtains loan guarantees from financially capable parties for commercial real estate loans. Commercial business loans includes lines of credit to businesses, term loans and letters of credit secured by business assets such as equipment, accounts receivable, inventory, or other assets excluding real estate and are generally made to finance capital expenditures or fund operations. Commercial loans contain risks related to the value of the collateral securing the loan and the repayment is primarily dependent upon the financial success and viability of the borrower. As with commercial real estate loans, the Company generally obtains loan guarantees from financially capable parties for commercial business loans. Home equity and second There were no December 31, 2017 2016. Loan Charge-Offs 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 uncollectability 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 not During 2017 2016, $15,000 $10,000 December 31, 2017, seven $612,000 $867,000 $180,000 December 31, 2016, eight $390,000 $869,000 $345,000 Consumer loans not 90 45 Loans Held for Sale Mortgage loans originated and intended for sale in the secondary market are carried at the lower of aggregate cost or market value. Aggregate market value is determined based on the quoted prices under a “best efforts” sales agreement with a third Commitments to originate mortgage loans held for sale are considered derivative financial instruments to be accounted for at fair value. The Bank’s mortgage loan commitments subject to derivative accounting are fixed-rate mortgage loan commitments at market rates when initiated. At December 31, 2017, $736,000 Transfers of Financial Assets The Company accounts for transfers and servicing of financial assets in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 860, Transfers and Servicing 1 2 3 not Transfers of a portion of a loan must meet the criteria of a participating interest. If it does not no no The Company sells financial assets in the normal course of business, the majority of which are related to residential mortgage loan sales through established programs and commercial loan sales through participation agreements. In accordance with accounting guidance for asset transfers, the Company considers any ongoing involvement with transferred assets in determining whether the assets can be derecognized from the balance sheet. With the exception of servicing and certain performance-based guarantees, the Company's continuing involvement with financial assets sold is minimal and generally limited to market customary representation and warranty clauses. Foreclosed Real Estate Foreclosed real estate includes formally foreclosed property held for sale. At the time of foreclosure, foreclosed real estate is recorded at fair value less estimated costs to sell, which becomes the property’s new basis. Any write-downs based on the property’s fair value at the date of acquisition are charged to the allowance for loan losses. After foreclosure, valuations are periodically performed by management and property held for sale is carried at the lower of the new cost basis or fair value less cost to sell. Costs incurred in maintaining foreclosed real estate and subsequent impairment adjustments to the carrying amount of a property, if any, are included in net loss on foreclosed real estate. Premises and Equipment Premises and equipment are stated at cost less accumulated depreciation. The Company uses the straight line method of computing depreciation at rates adequate to amortize the cost of the applicable assets over their estimated useful lives. Maintenance and repairs are expensed as incurred. The cost and related accumulated depreciation of assets sold, or otherwise disposed of, are removed from the related accounts and any gain or loss is included in earnings. Cash Surrender Value of Life Insurance The Bank has purchased life insurance policies on certain directors, officers and key employees to offset costs associated with the Bank’s compensation and benefit programs. The Bank is the owner and is a joint or sole beneficiary of the policies. Bank-owned life insurance is recorded at the amount that can be realized under the insurance contracts at the balance sheet date, which is the cash surrender value adjusted for other charges or other amounts due that are probable at settlement. Income from the increase in cash surrender value of the policies and income from the realization of death benefits is reported in noninterest income. Goodwill and Other Intangibles Goodwill recognized in a business combination represents the excess of the cost of the acquired entity over the net of the amounts assigned to assets acquired and liabilities assumed. Goodwill is evaluated for possible impairment at least annually or more frequently upon the occurrence of an event or change in circumstances that would more likely than not not 1 2 3 Other intangible assets consist of acquired core deposit intangibles. Core deposit intangibles are amortized over the estimated economic lives of the acquired core deposits. The carrying amount of core deposit intangibles and the remaining estimated economic life are evaluated annually or whenever events or circumstances indicate the carrying amount may not Securities Lending and Financing Arrangements Securities purchased under agreements to resell (reverse repurchase agreements) and securities sold under agreements to repurchase (repurchase agreements) are treated as collateralized lending and borrowing transactions, respectively, and are carried at the amounts at which the securities were initially acquired or sold. Stock-Based Compensation The Company has adopted the fair value based method of accounting for stock-based compensation prescribed in FASB ASC Topic 718 Advertising Costs Advertising costs are charged to operations when incurred. Income Taxes When income tax returns are filed, it is highly certain that some positions taken would be sustained upon examination by the taxing authorities, while other positions are subject to some degree of uncertainty regarding the merits of the position taken or the amount of the position that would be sustained. The Company recognizes the benefits of a tax position in the consolidated financial statements of the period during which, based on all available evidence, management believes it is more-likely-than- not 50 not 50 Income taxes are provided for the tax effects of the transactions reported in the financial statements and consist of taxes currently due plus deferred income taxes. Income tax reporting and financial statement reporting rules differ in many respects. As a result, there will often be a difference between the carrying amount of an asset or liability as presented in the accompanying consolidated balance sheets and the amount that would be recognized as the tax basis of the same asset or liability computed based on the effects of tax positions recognized, as described in the preceding paragraph. These differences are referred to as temporary differences because they are expected to reverse in future years. Deferred income tax assets are recognized for temporary differences where their future reversal will result in future tax benefits. Deferred income tax assets are also recognized for the future tax benefits expected to be realized from net operating loss or tax credit carryforwards. Deferred income tax liabilities are recognized for temporary differences where their future reversal will result in the payment of future income taxes. Deferred income tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not not Comprehensive Income Comprehensive income consists of reported net income and other comprehensive income. Other comprehensive income refers to revenue, expenses, gains and losses that are recorded as an element of equity but are excluded from reported net income. Other comprehensive income includes changes in the unrealized gains and losses on securities available for sale. Amounts reclassified out of unrealized gains or losses on securities available for sale included in accumulated other comprehensive income or loss (“AOCI”) are included in the net gain on sale of securities line item in the consolidated statements of income. Loss Contingencies Loss contingencies, including claims and legal actions arising in the ordinary course of business, are recorded as liabilities when the likelihood of loss is probable and an amount or range of loss can be reasonably estimated. Concentration of Credit Risk The Company and its subsidiaries maintain cash balances at various financial institutions. At times, these cash balances may 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 January 2016, No. 2016 01, Financial Instruments – Overall (Subtopic 825 10 1 2 No. 2016 01 December 15, 2017, not In February 2016, No. 2016 02, Leases (Topic 842 12 not December 15, 2018, not In June 2016, No. 2016 13, Financial Instruments – Credit Losses (Topic 326 December 15, 2019, December 15, 2018, one first 2016 13, In January 2017, No. 2017 04, Intangibles – Goodwill and Other (Topic 350 2 not December 15, 2019. January 1, 2017. not In March 2017, No. 2017 08, Receivables – Nonrefundable Fees and Other Costs (Subtopic 310 20 not December 15, 2018. not In February 2018, No. 2018 02, Income Statement – Reporting Comprehensive Income (Topic 220 740, Income Taxes not December 22, 2017. December 15, 2018. not December 31, 2017 $ 352,000 2017. |
Note 2 - Acquisition of Peoples
Note 2 - Acquisition of Peoples Bancorp, Inc. of Bullitt County | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | ( 2 ACQUISITION OF PEOPLES BANCORP, INC. OF BULLITT COUNTY On December 4, 2015, 100% June 4, 2015 ( Pursuant to the terms of the Merger Agreement, shareholders of Peoples had the right to elect to receive either 382.83 $9,475 50% 50% 377.637 $9,607.08 $14.7 580,017 $14.8 $25.44 20 November 27, 2015, $1.0 December 31, 2015. As part of the merger, the Company acquired foreclosed real estate with an estimated fair value of $3.75 24 60 24 50% $3.75 December 31, 2017, no no 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 No In accounting for the acquisition, $1.4 9.67 not Following is a summary of the assets acquired and the liabilities assumed recognized at the date of acquisition: (In thousands) Cash and cash equivalents $ 33,458 Interest-bearing time deposits 4,980 Investment securities 131,959 Loans 55,727 FHLB and other stock 1,295 Foreclosed real estate 4,349 Premises and equipment 3,465 Cash value of life insurance 828 Goodwill 1,085 Core deposit intangible 1,418 Other assets 1,886 Total assets acquired 240,450 Deposit accounts 209,084 Net deferred tax liability 17 Other liabilities 1,846 Total liabilities assumed 210,947 Total consideration $ 29,503 FASB ASC 310 30, Loans and Debt Securities Acquired with Deteriorated Credit Quality 5 (In thousands) Fair Value Gross Estimated Contractual Cash Flows Not Expected to be Collected Acquired loans subject to ASC 310-30 $ 1,570 $ 2,934 $ 1,033 Acquired loans not subject to ASC 310-30 54,157 60,013 1,927 Total acquired loans $ 55,727 $ 62,947 $ 2,960 For the period from December 4, 2015 December 31, 2015, $291,000 $94,000 December 4, 2015 December 31, 2015 not not January 1, 2015: Pro Forma Year Ended December 31, 2015 (In thousands) Revenue (interest income and noninterest income) $ 32,655 Net income 6,284 In addition to combining the historical results of operations, the pro forma calculations consider the purchase accounting adjustments and nonrecurring charges directly related to the acquisition and the related tax effects. The pro forma calculations do not not January 1, 2015, may |
Note 3 - Restriction on Cash an
Note 3 - Restriction on Cash and Due From Banks | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Cash and Cash Equivalents Disclosure [Text Block] | ( 3 RESTRICTION ON CASH AND DUE FROM BANKS The Bank is required to maintain reserve balances on hand and with the Federal Reserve Bank. These funds are unavailable for investment but the reserve balances maintained with the Federal Reserve Bank are interest-earning. The average amount of those reserve balances for the years ended December 31, 2017, 2016 2015 $1.7 $1.5 $886,000, |
Note 4 - Investment Securities
Note 4 - Investment Securities | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Investments in Debt and Equity Instruments, Cash and Cash Equivalents, Unrealized and Realized Gains (Losses) [Text Block] | ( 4 INVESTMENT SECURITIES Investment securities have been classified in the consolidated balance sheets according to management’s intent. Investment securities at December 31, 2017 2016 Gross Gross Amortized Unrealized Unrealized Fair (In thousands) Cost Gains Losses Value December 31, 2017: Securities available for sale: Agency mortgage-backed securities $ 114,902 $ - $ 2,253 $ 112,649 Agency CMO 15,660 1 338 15,323 Other debt securities: Agency notes and bonds 70,013 - 985 69,028 Municipal obligations 73,303 1,274 405 74,172 Total securities available for sale $ 273,878 $ 1,275 $ 3,981 $ 271,172 Securities held to maturity: Agency mortgage-backed securities $ 1 $ - $ - $ 1 Total securities held to maturity $ 1 $ - $ - $ 1 December 31, 2016: Securities available for sale: Agency mortgage-backed securities $ 110,493 $ 93 $ 2,349 $ 108,237 Agency CMO 16,293 23 288 16,028 Other debt securities: Agency notes and bonds 69,407 14 759 68,662 Municipal obligations 63,189 783 1,129 62,843 Total securities available for sale $ 259,382 $ 913 $ 4,525 $ 255,770 Securities held to maturity: Agency mortgage-backed securities $ 2 $ - $ - $ 2 Total securities held to maturity $ 2 $ - $ - $ 2 The amortized cost and fair value of debt securities as of December 31, 2017, may may Securities Available for Sale Securities Held to Maturity Amortized Fair Amortized Fair Cost Value Cost Value (In thousands) Due in one year or less $ 2,642 $ 2,636 $ - $ - Due after one year through five years 77,309 76,343 - - Due after five years through ten years 29,553 29,611 - - Due after ten years 33,812 34,610 - - 143,316 143,200 - - Mortgage-backed securities and CMO 130,562 127,972 1 1 $ 273,878 $ 271,172 $ 1 $ 1 At December 31, 2017, $47.7 $47.6 At December 31, 2017 2016, no one 10% Information pertaining to investment securities with gross unrealized losses at December 31, 2017 2016, December 31, 2017 2016, not Number of Gross Investment Fair Unrealized (Dollars in thousands) Positions Value Losses December 31, 2017: Continuous loss position less than twelve months: Agency mortgage-backed securities 37 $ 37,570 $ 400 Agency CMO 6 3,036 38 Agency notes and bonds 4 11,119 69 Municipal obligations 20 10,955 83 Total less than twelve months 67 62,680 590 Continuous loss position more than twelve months: Agency mortgage-backed securities 60 74,960 1,853 Agency CMO 18 11,801 300 Agency notes and bonds 19 57,909 916 Municipal obligations 29 14,667 322 Total more than twelve months 126 159,337 3,391 Total securities available for sale 193 $ 222,017 $ 3,981 Number of Gross Investment Fair Unrealized (Dollars in thousands) Positions Value Losses December 31, 2016: Continuous loss position less than twelve months: Agency mortgage-backed securities 78 $ 101,838 $ 2,336 Agency CMO 13 11,767 239 Agency notes and bonds 20 59,126 759 Municipal obligations 54 28,414 1,129 Total less than twelve months 165 201,145 4,463 Continuous loss position more than twelve months: Agency mortgage-backed securities 1 531 13 Agency CMO 5 2,502 49 Total more than twelve months 6 3,033 62 Total securities available for sale 171 $ 204,178 $ 4,525 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 2 3 At December 31, 2017, 1.8% first no While management does not December 31, 2017, may During the year ended December 31, 2017, $61,000 $7,000 December 31, 2016, $176,000 $0 December 31, 2015, no $45.4 no At December 31, 2015, 131,750 9% $711,000. $856,000 July 2016, $145,000 |
Note 5 - Loans and Allowance fo
Note 5 - Loans and Allowance for Loan Losses | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | ( 5 LOANS AND ALLOWANCE FOR LOAN LOSSES Loans at December 31, 2017 2016 (In thousands) 2017 2016 Real estate mortgage loans: Residential $ 136,399 $ 137,842 Land 18,198 13,895 Residential construction 28,854 29,561 Commercial real estate 100,133 96,462 Commercial real estate construction 17,161 8,921 Commercial business loans 34,114 24,056 Consumer loans: Home equity and second mortgage loans 49,802 42,908 Automobile loans 38,361 34,279 Loans secured by deposits 1,751 1,879 Unsecured loans 3,744 3,912 Other consumer loans 8,714 9,025 Gross loans 437,231 402,740 Less undisbursed portion of loans in process (25,020 ) (19,037 ) Principal loan balance 412,211 383,703 Deferred loan origination fees and costs, net 1,041 837 Allowance for loan losses (3,634 ) (3,386 ) Loans, net $ 409,618 $ 381,154 At December 31, 2017 2016, $87,000 $137,000, At December 31, 2017 2016, 90% $3.2 $3.7 Mortgage loans serviced for the benefit of others amounted to $117,000 $126,000 December 31, 2017 2016, The Bank has entered into loan transactions with certain directors, officers and their affiliates (i.e., related parties). In the opinion of management, such indebtedness was incurred in the ordinary course of business on substantially the same terms, including interest rate and collateral, as those prevailing at the time for comparable transactions with unrelated persons and does not The following table represents the aggregate activity for related party loans during the years ended December 31, 2017 2016. (In thousands) 2017 2016 Beginning balance $ 7,844 $ 8,175 Adjustments due to officer and director changes (93 ) (900 ) New loans 1,303 2,897 Payments (1,415 ) (2,328 ) Ending balance $ 7,639 $ 7,844 Off-balance-sheet commitments (including commitments to make loans, unused lines of credit and letters of credit) to related parties at December 31, 2017 2016 $2.8 $2.4 The following table provides the components of the Company’s recorded investment in loans at December 31, 2017 2016: Residential Land Construction Commercial Real Estate Commercial Business Home Other Consumer Total (In thousands) December 31, 2017: Principal loan balance $ 136,399 $ 18,198 $ 20,995 $ 100,133 $ 34,114 $ 49,802 $ 52,570 $ 412,211 Accrued interest receivable 474 94 49 249 87 189 223 1,365 Net deferred loan origination fees and costs 87 17 (10 ) (42 ) 2 987 - 1,041 Recorded investment in loans $ 136,960 $ 18,309 $ 21,034 $ 100,340 $ 34,203 $ 50,978 $ 52,793 $ 414,617 December 31, 2016: Principal loan balance $ 137,842 $ 13,895 $ 19,445 $ 96,462 $ 24,056 $ 42,908 $ 49,095 $ 383,703 Accrued interest receivable 455 42 44 249 67 141 226 1,224 Net deferred loan origination fees and costs 80 14 - (42 ) 3 782 - 837 Recorded investment in loans $ 138,377 $ 13,951 $ 19,489 $ 96,669 $ 24,126 $ 43,831 $ 49,321 $ 385,764 An analysis of the allowance for loan losses and recorded investment in loans as of and for the year ended December 31, 2017 Residential Real Estate Land Construction Commercial Commercial Home Other Total (In thousands) Allowance for Loan Losses: Beginning balance $ 380 $ 56 $ 80 $ 1,670 $ 198 $ 683 $ 319 $ 3,386 Provisions (120 ) 77 165 (124 ) 226 28 663 915 Charge-offs (74 ) - - (3 ) (140 ) (6 ) (713 ) (936 ) Recoveries 33 - - 79 7 5 145 269 Ending balance $ 219 $ 133 $ 245 $ 1,622 $ 291 $ 710 $ 414 $ 3,634 Ending allowance balance attributable to loans: Individually evaluated for impairment $ 35 $ - $ - $ - $ 4 $ 13 $ - $ 52 Collectively evaluated for impairment 182 133 245 1,622 287 697 414 3,580 Acquired with deteriorated credit quality 2 - - - - - - 2 Ending balance $ 219 $ 133 $ 245 $ 1,622 $ 291 $ 710 $ 414 $ 3,634 Recorded Investment in Loans: Individually evaluated for impairment $ 2,907 $ - $ - $ 401 $ 42 $ 73 $ - $ 3,423 Collectively evaluated for impairment 133,703 18,309 21,034 99,891 34,161 50,905 52,793 410,796 Acquired with deteriorated credit quality 350 - - 48 - - - 398 Ending balance $ 136,960 $ 18,309 $ 21,034 $ 100,340 $ 34,203 $ 50,978 $ 52,793 $ 414,617 An analysis of the allowance for loan losses and recorded investment in loans as of and for the year ended December 31, 2016 Residential Real Estate Land Construction Commercial Real Estate Commercial Business Home Other Consumer Total (In thousands) Allowance for Loan Losses: Beginning balance $ 527 $ 157 $ 47 $ 1,541 $ 261 $ 626 $ 256 $ 3,415 Provisions (87 ) (92 ) 33 157 187 79 368 645 Charge-offs (118 ) (9 ) - (82 ) (264 ) (36 ) (409 ) (918 ) Recoveries 58 - - 54 14 14 104 244 Ending balance $ 380 $ 56 $ 80 $ 1,670 $ 198 $ 683 $ 319 $ 3,386 Ending allowance balance attributable to loans: Individually evaluated for impairment $ 23 $ - $ - $ - $ 43 $ 13 $ 6 $ 85 Collectively evaluated for impairment 357 56 80 1,670 155 670 313 3,301 Acquired with deteriorated credit quality - - - - - - - - Ending balance $ 380 $ 56 $ 80 $ 1,670 $ 198 $ 683 $ 319 $ 3,386 Recorded Investment in Loans: Individually evaluated for impairment $ 2,083 $ - $ - $ 1,217 $ 143 $ 244 $ 20 $ 3,707 Collectively evaluated for impairment 135,904 13,951 19,489 95,212 23,983 43,587 49,301 381,427 Acquired with deteriorated credit quality 390 - - 240 - - - 630 Ending balance $ 138,377 $ 13,951 $ 19,489 $ 96,669 $ 24,126 $ 43,831 $ 49,321 $ 385,764 An analysis of the allowance for loan losses for the year ended December 31, 2015 Residential Real Estate Land Construction Commercial Real Estate Commercial Business Home Other Consumer Total (In thousands) Allowance for Loan Losses: Beginning balance $ 609 $ 201 $ 60 $ 1,501 $ 1,480 $ 720 $ 275 $ 4,846 Provisions 35 (44 ) (13 ) 6 (23 ) (49 ) 138 50 Charge-offs (128 ) - - - (1,205 ) (78 ) (268 ) (1,679 ) Recoveries 11 - - 34 9 33 111 198 Ending balance $ 527 $ 157 $ 47 $ 1,541 $ 261 $ 626 $ 256 $ 3,415 At December 31, 2017 2016, not 0.33% 20% $2.1 $1.8 December 31, 2017 2016. At December 31, 2017 2016, 1.18 • Underwriting Standards – Management reviews the findings of periodic internal audit loan reviews, independent outsourced loan reviews and loan reviews performed by the banking regulators to evaluate the risk associated with changes in underwriting standards. At December 31, 2017 2016, no • Economic Conditions – Management analyzes trends in housing and unemployment data in the Louisville, Kentucky metropolitan area, the Company’s primary market area, to evaluate the risk associated with economic conditions. Due to a decrease in new home construction and an increase in unemployment in the Company’s primary market area, management assigned a risk factor of 1.20 December 31, 2017 2016. • Past Due Loans – Management analyzes trends in past due loans for the Company to evaluate the risk associated with delinquent loans. In general, past due loan ratios have remained at elevated levels compared to historical amounts since 2007, 1.20 December 31, 2017 2016. • Other Internal and External Factors – This component includes management’s consideration of other qualitative factors such as loan portfolio composition. The Company has focused on the origination of commercial business and real estate loans in an effort to convert the Company’s balance sheet from that of a traditional thrift institution to a commercial bank. In addition, the Company has increased its investment in mortgage loans in which it does not first second first 1.30 December 31, 2017 2016. Each of the four 1.18 December 31, 2017 2016. $536,000 $501,000 December 31, 2017 2016, Management also adjusts the historical loss factors for loans classified as watch, special mention and substandard that are not $506,000 $559,000 December 31, 2017 2016, The following table summarizes the Company’s impaired loans as of and for the year ended December 31, 2017. not December 31, 2017. Unpaid Average Interest Recorded Principal Related Recorded Income Investment Balance Allowance Investment Recognized (In thousands) Loans with no related allowance recorded: Residential real estate $ 2,695 $ 2,948 $ - $ 2,437 $ 28 Land - - - - 2 Construction - - - - - Commercial real estate 401 535 - 686 16 Commercial business 12 12 - 57 1 Home equity and second mortgage 60 68 - 194 1 Other consumer - - - 4 - $ 3,168 $ 3,563 $ - $ 3,378 $ 48 Loans with an allowance recorded: Residential real estate $ 212 $ 218 $ 35 $ 140 $ - Land - - - - - Construction - - - - - Commercial real estate - - - - - Commercial business 30 30 4 40 - Home equity and second mortgage 13 13 13 20 - Other consumer - - - 14 - $ 255 $ 261 $ 52 $ 214 $ - Total: Residential real estate $ 2,907 $ 3,166 $ 35 $ 2,577 $ 28 Land - - - - 2 Construction - - - - - Commercial real estate 401 535 - 686 16 Commercial business 42 42 4 97 1 Home equity and second mortgage 73 81 13 214 1 Other consumer - - - 18 - $ 3,423 $ 3,824 $ 52 $ 3,592 $ 48 The following table summarizes the Company’s impaired loans as of and for the year ended December 31, 2016. not December 31, 2016. Unpaid Average Interest Recorded Principal Related Recorded Income Investment Balance Allowance Investment Recognized (In thousands) Loans with no related allowance recorded: Residential real estate $ 1,871 $ 2,223 $ - $ 1,904 $ 26 Land - - - 5 - Construction - - - - 3 Commercial real estate 1,217 1,540 - 2,959 60 Commercial business 75 81 - 66 - Home equity and second mortgage 231 237 - 88 2 Other consumer - - - 4 1 $ 3,394 $ 4,081 $ - $ 5,026 $ 92 Loans with an allowance recorded: Residential real estate $ 212 $ 217 $ 23 $ 148 $ - Land - - - - - Construction - - - - - Commercial real estate - - - 99 - Commercial business 68 68 43 54 - Home equity and second mortgage 13 14 13 27 - Other consumer 20 20 6 22 - $ 313 $ 319 $ 85 $ 350 $ - Total: Residential real estate $ 2,083 $ 2,440 $ 23 $ 2,052 $ 26 Land - - - 5 - Construction - - - - 3 Commercial real estate 1,217 1,540 - 3,058 60 Commercial business 143 149 43 120 - Home equity and second mortgage 244 251 13 115 2 Other consumer 20 20 6 26 1 $ 3,707 $ 4,400 $ 85 $ 5,376 $ 92 The following table summarizes the Company’s impaired loans for the year ended December 31, 2015. not December 31, 2015. Average Interest Recorded Income Investment Recognized (In thousands) Loans with no related allowance recorded: Residential real estate $ 1,356 $ 19 Land 20 - Construction - - Commercial real estate 2,092 76 Commercial business 19 - Home equity and second mortgage 64 2 Other consumer - - $ 3,551 $ 97 Loans with an allowance recorded: Residential real estate $ 190 $ - Land - - Construction - - Commercial real estate 78 - Commercial business 355 - Home equity and second mortgage 80 - Other consumer - - $ 703 $ - Total: Residential real estate $ 1,546 $ 19 Land 20 - Construction - - Commercial real estate 2,170 76 Commercial business 374 - Home equity and second mortgage 144 2 Other consumer - - $ 4,254 $ 97 Nonperforming loans consists of nonaccrual loans and loans over 90 December 31, 2017 2016: December 31, 2017 December 31, 2016 Nonaccrual Loans 90+ Days Total Nonperforming Loans Nonaccrual Loans 90+ Days Total Nonperforming Loans (In thousands) Residential real estate $ 2,298 $ 109 $ 2,407 $ 1,634 $ 55 $ 1,689 Land - 95 95 - - - Construction - - - - - - Commercial real estate 139 - 139 924 - 924 Commercial business 42 59 101 142 - 142 Home equity and second mortgage 57 - 57 226 - 226 Other consumer - 28 28 20 23 43 Total $ 2,536 $ 291 $ 2,827 $ 2,946 $ 78 $ 3,024 The following table presents the aging of the recorded investment in loans at December 31, 2017: 30-59 Days 60-89 Days Over Total Current Purchased Credit Impaired Loans Total (In thousands) Residential real estate $ 2,612 $ 338 $ 1,255 $ 4,205 $ 132,405 $ 350 $ 136,960 Land 186 - 95 281 18,028 - 18,309 Construction - - - - 21,034 - 21,034 Commercial real estate 379 - 139 518 99,774 48 100,340 Commercial business 46 49 102 197 34,006 - 34,203 Home equity and second mortgage 468 27 13 508 50,470 - 50,978 Other consumer 420 37 28 485 52,308 - 52,793 Total $ 4,111 $ 451 $ 1,632 $ 6,194 $ 408,025 $ 398 $ 414,617 The following table presents the aging of the recorded investment in loans at December 31, 2016: 30-59 Days 60-89 Days Over Total Current Purchased Credit Impaired Loans Total (In thousands) Residential real estate $ 2,444 $ 707 $ 1,021 $ 4,172 $ 133,815 $ 390 $ 138,377 Land - 52 - 52 13,899 - 13,951 Construction - - - - 19,489 - 19,489 Commercial real estate - - 27 27 96,402 240 96,669 Commercial business 155 - 83 238 23,888 - 24,126 Home equity and second mortgage 352 - 13 365 43,466 - 43,831 Other consumer 319 66 43 428 48,893 - 49,321 Total $ 3,270 $ 825 $ 1,187 $ 5,282 $ 379,852 $ 630 $ 385,764 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: may Substandard: not Doubtful: Loss: not Loans not The following table presents the recorded investment in loans by risk category as of the date indicated: Residential Land Construction Commercial Real Estate Commercial Business Home Other Consumer Total (In thousands) December 31, 2017: Pass $ 133,618 $ 18,003 $ 20,173 $ 97,219 $ 33,245 $ 50,919 $ 52,629 $ 405,806 Special mention 348 157 861 1,362 734 - 161 3,623 Substandard 684 149 - 1,620 182 2 3 2,640 Doubtful 2,310 - - 139 42 57 - 2,548 Loss - - - - - - - - Total $ 136,960 $ 18,309 $ 21,034 $ 100,340 $ 34,203 $ 50,978 $ 52,793 $ 414,617 December 31, 2016 Pass $ 135,328 $ 13,795 $ 19,489 $ 87,782 $ 23,246 $ 43,601 $ 49,256 $ 372,497 Special mention 403 86 - 1,892 661 - 45 3,087 Substandard 721 70 - 5,991 77 4 - 6,863 Doubtful 1,925 - - 1,004 142 226 20 3,317 Loss - - - - - - - - Total $ 138,377 $ 13,951 $ 19,489 $ 96,669 $ 24,126 $ 43,831 $ 49,321 $ 385,764 Troubled Debt Restructurings The following table summarizes the Company’s TDRs by accrual status as of December 31, 2017 2016: December 31, 2017 December 31, 2016 Accruing Nonaccrual Total Related Accruing Nonaccrual Total Related (In thousands) Residential real estate $ 487 $ 106 $ 593 $ - $ 433 $ 229 $ 662 $ - Commercial real estate 356 - 356 - 291 168 459 - Home equity and second mortgage 15 - 15 - 18 - 18 - Total $ 858 $ 106 $ 964 $ - $ 742 $ 397 $ 1,139 $ - At December 31, 2017 2016, no The Company restructured one December 31, 2017, $65,000 no December 31, 2016 2015. 2017, no December 31, 2017, 2016 2015. The Company had payment defaults (defined as the loan becoming more than 90 12 two $187,000 December 31, 2015. no December 31, 2017 2016. may may not December 31, 2017, 2016 2015. Purchased Credit Impaired (“PCI”) Loans Purchased loans acquired in a business combination are recorded at estimated fair value on their purchase date with no 310 30 not The following table presents the carrying amount of PCI loans accounted for under FASB ASC 310 30 December 31, 2017 2016: (In thousands) 2017 2016 Residential real estate $ 350 $ 390 Commercial real estate 48 240 Carrying amount 398 630 Allowance for loan losses 2 - $ 396 $ 630 The outstanding balance of PCI loans accounted for under FASB ASC 310 30, $625,000 $754,000 December 31, 2017 2016, The allowance for loan losses related to PCI loans was $2,000 December 31, 2017. no December 31, 2016. $2,000 December 31, 2017. no December 31, 2016 2015. Accretable yield, or income expected to be collected, is as follows for the years ended December 31, 2017, 2016 2015: (In thousands) 2017 2016 2015 Beginning balance $ 252 $ 319 $ - New loans acquired - - 331 Accretion to income (55 ) (75 ) (12 ) Disposals of loans (21 ) (93 ) - Reclassification (to) from nonaccretable difference 294 101 - Ending balance $ 470 $ 252 $ 319 |
Note 6 - Premises and Equipment
Note 6 - Premises and Equipment | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | ( 6 PREMISES AND EQUIPMENT Premises and equipment as of December 31, 2017 2016 (In thousands) 2017 2016 Land and land improvements $ 5,297 $ 5,297 Leasehold improvements 134 134 Office buildings 13,849 13,136 Furniture, fixtures and equipment 5,973 5,723 25,253 24,290 Less accumulated depreciation 10,222 9,449 Totals $ 15,031 $ 14,841 Depreciation expense was $1.1 $1.0 $744,000 December 31, 2017, 2016 2015, |
Note 7 - Foreclosed Real Estate
Note 7 - Foreclosed Real Estate | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Real Estate Disclosure [Text Block] | ( 7 FORECLOSED REAL ESTATE Foreclosed real estate activity was as follows for the years ended December 31, 2017, 2016 2015: (In thousands) 2017 2016 2015 Beginning balance $ 4,674 $ 4,890 $ 78 Obtained in acquisition - - 4,349 Transfers from loans to foreclosed real estate 555 1,307 809 Direct write-downs (263 ) (80 ) (100 ) Sales (1,023 ) (1,504 ) (245 ) Capitalized expenses and other adjustments 28 61 (1 ) Ending balance $ 3,971 $ 4,674 $ 4,890 Net loss on foreclosed real estate was as follows for the years ended December 31, 2017, 2016 2015: (In thousands) 2017 2016 2015 Net (gain) loss on sales $ (3 ) $ (30 ) $ 15 Direct write-downs 263 80 100 Operating expenses, net of income 56 94 47 $ 316 $ 144 $ 162 At December 31, 2017 2016, $443,000 $226,000, December 31, 2017 2016, $588,000 $793,000, |
Note 8 - Goodwill and Other Int
Note 8 - Goodwill and Other Intangibles | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | ( 8 GOODWILL AND OTHER INTANGIBLES The Company acquired goodwill of $1.1 $5.4 2003. No 2017, 2016 2015. The Company acquired a core deposit intangible of $1.4 2015. $147,000, $147,000 $12,000 2017, 2016 2015, Core deposit intangibles subject to amortization as of December 31, 2017 2016 (In thousands) 2017 2016 Core deposit intangible acquired in Peoples acquisition $ 1,418 $ 1,418 Less accumulated amortization 306 159 $ 1,112 $ 1,259 Estimated amortization expense for the core deposit intangible for each of the ensuing five Years ending December 31: (In thousands) 2018 $ 147 2019 147 2020 147 2021 147 2022 147 2023 and thereafter 377 Total $ 1,112 |
Note 9 - Deposits
Note 9 - Deposits | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Deposits Assets Disclosure Noncurrent [Text Block] | ( 9 DEPOSITS The aggregate amount of time deposit accounts with balances that met or exceeded the Federal Deposit Insurance Corporation (“FDIC”) insurance limit of $250,000 $3.5 $3.6 December 31, 2017 2016, At December 31, 2017, Year ending December 31: (In thousands) 2018 $ 40,621 2019 12,382 2020 6,861 2021 8,799 2022 and thereafter 4,856 Total $ 73,519 The Bank held deposits of approximately $9.2 $11.9 December 31, 2017 2016, |
Note 10 - Lines of Credit
Note 10 - Lines of Credit | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | ( 10 LINES OF CREDIT The Bank has an unsecured federal funds purchased line of credit through The Bankers’ Bank of Kentucky with a maximum borrowing amount of $5.0 December 31, 2017 2016, no The Bank also has a $2.0 December 31, 2017 2016, no |
Note 11 - Advances from Federal
Note 11 - Advances from Federal Home Loan Bank | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Federal Home Loan Bank Advances, Disclosure [Text Block] | ( 11 ADVANCES FROM FEDERAL HOME LOAN BANK At December 31, 2017, $10.0 June 2018 1.67%. no December 31, 2016. December 31, 2017, $66.5 |
Note 12 - Lease Commitments
Note 12 - Lease Commitments | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Leases of Lessee Disclosure [Text Block] | ( 12 LEASE COMMITMENTS During 2015, March 2020 $19,000. September 2016, October 2021 $59,000. December 31, 2017, $78,000 December 31, 2018 2019, $64,000 December 31, 2020 $59,000 December 31, 2021, $279,000. The Bank’s subsidiary companies headquartered in Nevada lease office space under sublease agreements that automatically renew for one October. Total rental expense for all operating leases was $98,000, $89,000 $30,000 December 31, 2017, 2016 2015, |
Note 13 - Income Taxes
Note 13 - Income Taxes | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | ( 13 INCOME TAXES The TCJA enacted on December 22, 2017 34% 21% December 31, 2017. 740, Income Taxes December 31, 2017. December 31, 2017, $290,000. No. 2018 02, December 31, 2017 $ 352,000 Shortly after the enactment of the TCJA, the SEC issued Staff Accounting Bulletin (“SAB”) 118, 118, 118 one 2018. The components of income tax expense for the years ended December 31, 2017, 2016 2015 (In thousands) 2017 2016 2015 Current $ 2,755 $ 2,303 $ 1,292 Deferred 348 220 672 Totals $ 3,103 $ 2,523 $ 1,964 The reconciliation of income tax expense for the years ended December 31, 2017, 2016 2015, 34% (In thousands) 2017 2016 2015 Provision at federal statutory tax rate $ 3,589 $ 3,196 $ 2,440 State income tax-net of federal tax benefit 96 111 107 Change in state statutory tax rate (5 ) (4 ) (4 ) Revaluation of net deferred tax asset due to change in federal income tax rate 290 - - Tax-exempt interest income (507 ) (416 ) (405 ) Bank-owned life insurance income (73 ) (62 ) (83 ) Captive insurance net premiums (290 ) (294 ) (322 ) Nondeductible acquisition expense - - 219 Other 3 (8 ) 12 Totals $ 3,103 $ 2,523 $ 1,964 Effective tax rate 29.4 % 26.8 % 27.4 % Significant components of the deferred tax assets and liabilities as of December 31, 2017 2016 (In thousands) 2017 2016 Deferred tax assets (liabilities): Deferred compensation plans $ 121 $ 200 Allowance for loan losses 743 876 Accrued expenses - 45 Unrealized loss on securities available for sale 647 1,335 Restricted stock 11 16 Valuation allowance on foreclosed real estate 87 119 Interest on nonaccrual loans 220 265 Other 58 26 Deferred tax assets 1,887 2,882 Depreciation (587 ) (632 ) Deferred loan fees and costs (262 ) (261 ) FHLB stock dividends (37 ) (56 ) Prepaid expenses (201 ) (295 ) Acquisition purchase accounting adjustments (184 ) (334 ) Other (39 ) (43 ) Deferred tax liabilities (1,310 ) (1,621 ) Net deferred tax asset $ 577 $ 1,261 Tax laws enacted in 2013 2014 2014 2023. At December 31, 2017 2016, no not twelve not December 31, 2014 Retained earnings of the Bank at December 31, 2017 2016 $909,000 no December 31, 1987 $191,000 $309,000 December 31, 2017 2016, |
Note 14 - Employee Benefit Plan
Note 14 - Employee Benefit Plans | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Compensation and Employee Benefit Plans [Text Block] | ( 14 EMPLOYEE BENEFIT PLANS Defined Contribution Plan: The Bank has a qualified contributory defined contribution plan available to all eligible employees. The plan allows participating employees to make tax-deferred contributions under Internal Revenue Code Section 401 $478,000, $472,000 $362,000 December 31, 2017, 2016 2015, Employee Stock Ownership Plan: On December 31, 1998, 718 40, Employee Stock Ownership Plans 61,501 ten not not 2008 Compensation expense is recognized based on the average fair value of shares released for allocation to participant accounts during the year with a corresponding credit to stockholders’ equity. No December 31, 2017, 2016 2015 2008. At December 31, 2017 2016, 53,181 54,196 |
Note 15 - Deferred Compensation
Note 15 - Deferred Compensation Plans | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Deferred Compensation Plans Disclosure [Text Block] | ( 15 DEFERRED COMPENSATION PLANS The Bank has a deferred compensation plan whereby certain officers will be provided specific amounts of income for a period of fifteen 2022. December 2015, three ten 2026. may $332,000 $365,000 December 31, 2017 2016, $19,000, $21,000 $8,000 December 31, 2017, 2016 2015, The Bank also has a directors' deferred compensation plan whereby a director defers into a retirement account a portion of his/her monthly director fees for a specified period to provide a specified amount of income for a period of fifteen 2036. $157,000 $161,000 December 31, 2017 2016, $ 19,000 December 31, 2017, 2016 2015. |
Note 16 - Stock-based Compensat
Note 16 - Stock-based Compensation Plan | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | ( 16 STOCK-BASED COMPENSATION PLAN On May 20, 2009, 2009 may not 223,000 December 31, 2017, 204,000 The Company may may not ten may first not $100,000. may not may 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 December 31, 2017, no On February 17, 2015, 19,500 $24.50 $478,000. five December 31, 2017, 2016 2015 $89,000, $82,000 $71,000, December 31, 2017 Weighted Number Average of Grant-Date Shares Fair Value Nonvested at beginning of year 14,000 $ 24.50 Granted - - Vested 3,500 24.50 Forfeited - - Nonvested at end of year 10,500 $ 24.50 The total fair value of restricted shares that vested during the year ended December 31, 2017 $109,000. no December 31, 2016 2015. December 31, 2017, $212,000. 2.5 On February 20, 2018, 20,000 $37.42 $748,000, five |
Note 17 - Commitments and Conti
Note 17 - Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | ( 17 COMMITMENTS AND CONTINGENCIES In the normal course of business, there are outstanding commitments, contingent liabilities and other financial instruments that are no The Company’s exposure to credit loss in the event of nonperformance by the other party to the financial instruments for commitments to extend credit and standby letters of credit is represented by the contractual notional amount of those instruments. The Company uses the same credit policies in making commitments and conditional obligations as it does for on-balance-sheet instruments. The following is a summary of the commitments at December 31, 2017 2016: (In thousands) 2017 2016 Loan commitments: Fixed rate $ 933 $ 4,542 Adjustable rate 8,245 10,661 Standby letters of credit 1,246 1,245 Unused lines of credit on credit cards 5,660 5,463 Undisbursed commercial and personal lines of credit 32,302 32,125 Undisbursed portion of construction loans in process 25,020 19,037 Undisbursed portion of home equity lines of credit 44,494 33,490 $ 117,900 $ 106,563 Commitments to extend credit are agreements to lend to a customer as long as there is no may not may Standby letters of credit are conditional commitments issued by the Company to guarantee the performance of a customer to a third |
Note 18 - Dividend Restriction
Note 18 - Dividend Restriction | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Dividend Restrictions [Text Block] | ( 18 DIVIDEND RESTRICTION As an Indiana corporation, the Company is subject to Indiana law with respect to the payment of dividends. Under Indiana law, the Company may The payment of dividends by the Bank is subject to regulation by the Office of the Comptroller of the Currency (“OCC”). The Bank may not December 31, 1998. |
Note 19 - Regulatory Matters
Note 19 - Regulatory Matters | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | ( 19 REGULATORY MATTERS The Bank is subject to various regulatory capital requirements administered by the OCC. Failure to meet minimum capital requirements can initiate certain mandatory, and possibly additional discretionary, actions by regulators that, if undertaken, could have a direct material effect on the Bank and the consolidated financial statements. Under the regulatory capital adequacy guidelines and the regulatory framework for prompt corrective action, the Bank must meet specific capital guidelines involving quantitative measures of the Bank’s assets, liabilities and certain off-balance-sheet items as calculated under regulatory accounting practices. The Bank’s capital amounts and classification under the prompt corrective action guidelines are also subject to qualitative judgments by the regulators about components, risk weightings and other factors. Quantitative measures established by regulation to ensure capital adequacy require the Bank to maintain minimum amounts and ratios (set forth in the table below) of total, Tier 1 1 1 January 1, 2015, 2019. 0.0% 2015 2.5% 2019. 1.25% 2017 0.625% 2016. December 31, 2017 2016. As of December 31, 2017, 1 1 1 no The Bank’s actual capital amounts and ratios are presented in the following table. No Actual Minimum to be Well (Dollars in thousands) Amount Ratio Amount Ratio Amount Ratio As of December 31, 2017: Total capital (to risk weighted assets) $ 75,704 14.49 % $ 48,314 9.25 % $ 52,231 10.00 % Tier 1 capital (to risk weighted assets) $ 72,070 13.80 % $ 37,868 7.25 % $ 41,785 8.00 % Common equity Tier 1 capital (to risk weighted assets) $ 72,070 13.80 % $ 30,033 5.75 % $ 33,950 6.50 % Tier 1 capital (to average assets) $ 72,070 9.67 % $ 29,812 4.00 % $ 37,266 5.00 % As of December 31, 2016: Total capital (to risk weighted assets) $ 71,832 14.98 % $ 41,354 8.625 % $ 47,946 10.00 % Tier 1 capital (to risk weighted assets) $ 68,446 14.28 % $ 31,764 6.625 % $ 38,357 8.00 % Common equity Tier 1 capital (to risk weighted assets) $ 68,446 14.28 % $ 24,572 5.125 % $ 31,165 6.50 % Tier 1 capital (to average assets) $ 68,446 9.30 % $ 29,447 4.000 % $ 36,809 5.00 % On September 20, 2017, Additionally, in connection with the Conversion, the Company filed an application with the Federal Reserve Bank of St. Louis to change from a savings and loan holding company to a financial holding company if the Conversion is approved by the Bank’s regulators. The Company has received the approval of the Federal Reserve Bank of St. Louis, subject to the Bank receiving the approval of the IDFI and FDIC. |
Note 20 - Fair Value Measuremen
Note 20 - Fair Value Measurements | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | ( 20 FAIR VALUE MEASUREMENTS FASB ASC Topic 820 , Fair Value Measurements, 1 3 three 820 Level 1: Inputs to the valuation methodology are quoted prices, unadjusted, for identical assets or liabilities in active markets. A quoted market price in an active market provides the most reliable evidence of fair value and shall be used to measure fair value whenever available. 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 Level 3: Inputs to the valuation methodology are unobservable and significant to the fair value measurement. Level 3 Fair value is based upon quoted market prices, where available. If quoted market prices are not third may may may may not 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 below. 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 December 31, 2017. no December 31, 2017. Carrying Value Level 1 Level 2 Level 3 Total (In thousands) December 31, 2017: Assets Measured on a Recurring Basis Securities available for sale: Agency mortgage-backed securities $ - $ 112,649 $ - $ 112,649 Agency CMO - 15,323 - 15,323 Agency notes and bonds - 69,028 - 69,028 Municipal obligations - 74,172 - 74,172 Total securities available for sale $ - $ 271,172 $ - $ 271,172 Assets Measured on a Nonrecurring Basis Impaired loans: Residential real estate $ - $ - $ 2,872 $ 2,872 Commercial real estate - - 401 401 Commercial business - - 38 38 Home equity and second mortgage - - 60 60 Total impaired loans $ - $ - $ 3,371 $ 3,371 Loans held for sale $ - $ 2,630 $ - $ 2,630 Foreclosed real estate: Residential real estate $ - $ - $ 443 $ 443 Commercial real estate - - 3,528 3,528 Total foreclosed real estate $ - $ - $ 3,971 $ 3,971 The table below presents the balances of assets measured at fair value on a recurring and nonrecurring basis as of December 31, 2016. no December 31, 2016. Carrying Value Level 1 Level 2 Level 3 Total (In thousands) December 31, 2016: Assets Measured on a Recurring Basis Securities available for sale: Agency mortgage-backed securities $ - $ 108,237 $ - $ 108,237 Agency CMO - 16,028 - 16,028 Agency notes and bonds - 68,662 - 68,662 Municipal obligations - 62,843 - 62,843 Total securities available for sale $ - $ 255,770 $ - $ 255,770 Assets Measured on a Nonrecurring Basis Impaired loans: Residential real estate $ - $ - $ 2,060 $ 2,060 Commercial real estate - - 1,217 1,217 Commercial business - - 100 100 Home equity and second mortgage - - 231 231 Other consumer - - 14 14 Total impaired loans $ - $ - $ 3,622 $ 3,622 Loans held for sale $ - $ 4,507 $ - $ 4,507 Foreclosed real estate: Residential real estate $ - $ - $ 226 $ 226 Commercial real estate - - 4,448 4,448 Total foreclosed real estate $ - $ - $ 4,674 $ 4,674 Securities Available for Sale . 1 third not 2 may third not 3 Impaired Loans 3 Impaired loans are measured 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 December 31, 2017 2016, may At December 31, 2017, 14% 62%, 39%. December 31, 2016, 33% 65%, 39%. The Company recognized provisions for loan losses of $39,000, $158,000 $154,000 December 31, 2017, 2016 2015, Loans Held for Sale 2 Foreclosed Real Estate 3 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 December 31, 2017, 17% 75%, 45%. December 31, 2016, 10% 77%, 38%. The Company recognized charges of $263,000, $80,000 $100,000 December 31, 2017, 2016 2015, Transfers between Categories no December 31, 2017 2016. no 3 December 31, 2017 2016. no 1 2 December 31, 2017 2016. |
Note 21 - Disclosures About Fai
Note 21 - Disclosures About Fair Value of Financial Instruments | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Fair Value Measurements and Financial Instruments Disclosure [Text Block] | ( 21 DISCLOSURES ABOUT FAIR VALUE OF FINANCIAL INSTRUMENTS The following table summarizes the carrying value and estimated fair value of financial instruments and the level within the fair value hierarchy (see Note 22 December 31, 2017 2016: Fair Value Measurements Using Carrying Fair (In thousands) Value Value Level 1 Level 2 Level 3 December 31, 2017: Financial assets: Cash and cash equivalents $ 25,915 $ 25,915 $ 25,915 $ - $ - Interest-bearing time deposits 9,258 9,220 - 9,220 - Securities available for sale 271,172 271,172- 271,172 - Securities held to maturity 1 1 - 1 - Loans held for sale 2,630 2,678 - 2,678 - Loans, net 409,618 404,931 - - 404,931 FHLB and other stock 1,979 N/A N/A N/A N/A Accrued interest receivable 2,694 2,694 - 2,694 - Financial liabilities: Deposits 664,562 663,006 - - 663,006 FHLB advances 10,000 10,000 - 10,000 - Accrued interest payable 107 107 - 107 - December 31, 2016: Financial assets: Cash and cash equivalents $ 45,909 $ 45,909 $ 45,909 $ - $ - Interest-bearing time deposits 14,735 14,786 - 14,786 - Securities available for sale 255,770 255,770 - 255,770 - Securities held to maturity 2 2 - 2 - Loans held for sale 4,507 4,598 - 4,598 - Loans, net 381,154 381,459 - - 381,459 FHLB and other stock 1,650 N/A N/A N/A N/A Accrued interest receivable 2,363 2,363 - 2,363 - Financial liabilities: Deposits 664,650 663,806 - - 663,806 Accrued interest payable 133 133 - 133 - The carrying amounts in the preceding table are included in the consolidated balance sheets under the applicable captions. The contractual or notional amounts of financial instruments with off-balance-sheet risk are disclosed in Note 17, 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 For cash and short-term instruments, including cash and due from banks, interest-bearing deposits with banks with original maturities of 90 Investment Securities and Interest-Bearing Time Deposits For debt securities and interest-bearing time deposits, the Company obtains fair value measurements from an independent pricing service and the fair value measurements consider observable data that may Loans The fair value of loans, excluding loans held for sale, 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 terms. Impaired loans are valued at the lower of their carrying value or fair value, as previously described. The carrying amount of accrued interest receivable approximates its fair value. The fair value of loans held for sale is estimated based on specific prices of underlying contracts for sales to investors, as previously described. FHLB Stock It is not 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. FHLB Advances The fair value of FHLB advances is estimated by discounting the future cash flows at current interest rates for FHLB advances of similar maturities. |
Note 22 - Parent Company Conden
Note 22 - Parent Company Condensed Financial Information | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Condensed Financial Information of Parent Company Only Disclosure [Text Block] | ( 22 PARENT COMPANY CONDENSED FINANCIAL INFORMATION Condensed financial information for the Company (parent company only) follows: Balance Sheets (In thousands) As of December 31, 2017 2016 Assets: Cash and cash equivalents $ 1,850 $ 727 Other assets 234 243 Investment in subsidiaries 78,854 74,790 $ 80,938 $ 75,760 Liabilities and Equity: Accrued expenses $ - $ 30 Stockholders' equity 80,938 75,730 $ 80,938 $ 75,760 Statements of Income (In thousands) Years Ended December 31, 2017 2016 2015 Dividend income from subsidiaries $ 4,175 $ 2,550 $ 18,200 Other income 4 152 9 Other operating expenses (383 ) (534 ) (1,116 ) Income before income taxes and equity in undistributed net income of subsidiaries 3,796 2,168 17,093 Income tax benefit 147 158 179 Income before equity in undistributed net income of subsidiaries 3,943 2,326 17,272 Equity in undistributed net income of subsidiaries 3,496 4,538 (12,074 ) Net income $ 7,439 $ 6,864 $ 5,198 Statements of Cash Flows (In thousands) Years Ended December 31, 2017 2016 2015 Operating Activities: Net income $ 7,439 $ 6,864 $ 5,198 Adjustments to reconcile net income to cash and cash equivalents provided by operating activities: Equity in undistributed net income of subsidiaries (3,496 ) (4,538 ) 12,074 Stock compensation expense 88 82 71 Gain on sale of cost method equity investment - (145 ) - Net change in other assets and liabilities (20 ) (15 ) 3 Net cash provided by operating activities 4,011 2,248 17,346 Investing Activities: Proceeds from sale of cost method equity investment - 856 - Net cash paid in acquisition of Peoples - - (14,748 ) Net cash provided by (used in) investing activities - 856 (14,748 ) Financing Activities: Purchase of treasury stock (18 ) (34 ) (10 ) Cash dividends paid (2,870 ) (2,804 ) (2,436 ) Net cash used in financing activities (2,888 ) (2,838 ) (2,446 ) Net increase in cash and cash equivalents 1,123 266 152 Cash and cash equivalents at beginning of year 727 461 309 Cash and cash equivalents at end of year $ 1,850 $ 727 $ 461 |
Note 23 - Supplemental Disclosu
Note 23 - Supplemental Disclosure of Cash Flow Information | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Cash Flow, Supplemental Disclosures [Text Block] | ( 23 SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION Years Ended December 31, (In thousands) 2017 2016 2015 Cash payments for: Interest $ 1,466 $ 1,914 $ 978 Income taxes (net of refunds received) 3,010 1,054 1,040 Noncash investing activities: Transfers from loans to foreclosed real estate $ 555 $ 1,307 $ 809 Proceeds from sales of foreclosed real estate financed through loans 15 288 - Noncash financing activity: Issuance of common stock in Peoples acquisition $ - $ - $ 14,755 |
Note 24 - Supplemental Disclosu
Note 24 - Supplemental Disclosure for Earnings Per Share | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | ( 24 SUPPLEMENTAL DISCLOSURE FOR EARNINGS PER SHARE Basic earnings per common share is computed by dividing net income available to common shareholders by the weighted average number of shares of common stock outstanding during the periods presented. Diluted earnings per common share include the dilutive effect of additional potential common shares issuable under stock options, restricted stock and other potentially dilutive securities outstanding. Earnings and dividends per share are restated for stock splits and dividends through the date of issuance of the financial statements. Earnings per share information is presented below for the years ended December 31, 2017, 2016 2015. (In thousands, except share and per share data) Years Ended December 31, 2017 2016 2015 Basic: Net income attributable to First Capital, Inc. $ 7,439 $ 6,864 $ 5,198 Shares: Weighted average common shares outstanding 3,325,032 3,340,566 2,783,508 Net income per common share attributable to First Capital, Inc., basic $ 2.24 $ 2.05 $ 1.87 Diluted: Net income attributable to First Capital, Inc. $ 7,439 $ 6,864 $ 5,198 Shares: Weighted average common shares outstanding 3,325,032 3,340,566 2,783,508 Add: Dilutive effect of restricted stock 4,531 2,850 404 Weighted average common shares outstanding, as adjusted 3,329,563 3,343,416 2,783,912 Net income per common share attributable to First Capital, Inc., diluted $ 2.23 $ 2.05 $ 1.87 Nonvested restricted stock shares are not No December 31, 2017, 2016 2015. |
Note 25 - Selected Quarterly Fi
Note 25 - Selected Quarterly Financial Information (Unaudited) | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Quarterly Financial Information [Text Block] | ( 25 SELECTED QUARTERLY FINANCIAL INFORMATION (UNAUDITED) First Second Third Fourth Quarter Quarter Quarter Quarter 2017 (In thousands, except per share data) Interest income $ 6,343 $ 6,578 $ 6,728 $ 6,773 Interest expense 359 346 343 344 Net interest income 5,984 6,232 6,385 6,429 Provision for loan losses 211 256 150 298 Net interest income after provision for loan losses 5,773 5,976 6,235 6,131 Noninterest income 1,453 1,856 1,748 1,641 Noninterest expenses 5,155 4,803 5,046 5,254 Income before income taxes 2,071 3,029 2,937 2,518 Income tax expense 515 835 825 928 Net income 1,556 2,194 2,112 1,590 Less: net income attributable to noncontrolling interest in subsidiary 3 4 3 3 Net income attributable to First Capital, Inc. $ 1,553 $ 2,190 $ 2,109 $ 1,587 Earnings per common share attributable to First Capital, Inc.: Basic $ 0.46 $ 0.66 $ 0.63 $ 0.49 Diluted $ 0.46 $ 0.66 $ 0.63 $ 0.48 2016 Interest income $ 6,346 $ 6,289 $ 6,215 $ 6,244 Interest expense 500 456 414 393 Net interest income 5,846 5,833 5,801 5,851 Provision for loan losses 75 150 200 220 Net interest income after provision for loan losses 5,771 5,683 5,601 5,631 Noninterest income 1,368 1,615 1,750 1,436 Noninterest expenses 4,990 4,844 4,924 4,697 Income before income taxes 2,149 2,454 2,427 2,370 Income tax expense 564 667 666 626 Net income 1,585 1,787 1,761 1,744 Less: net income attributable to noncontrolling interest in subsidiary 3 4 3 3 Net income attributable to First Capital, Inc. $ 1,582 $ 1,783 $ 1,758 $ 1,741 Earnings per common share attributable to First Capital, Inc.: Basic $ 0.47 $ 0.53 $ 0.53 $ 0.52 Diluted $ 0.47 $ 0.53 $ 0.53 $ 0.52 First Second Third Fourth Quarter Quarter Quarter Quarter 2015 (In thousands, except per share data) Interest income $ 4,496 $ 4,555 $ 4,553 $ 5,109 Interest expense 243 239 220 302 Net interest income 4,253 4,316 4,333 4,807 Provision for loan losses - 50 - - Net interest income after provision for loan losses 4,253 4,266 4,333 4,807 Noninterest income 1,364 1,214 1,226 1,320 Noninterest expenses 3,679 3,761 3,651 4,517 Income before income taxes 1,938 1,719 1,908 1,610 Income tax expense 469 487 507 501 Net income 1,469 1,232 1,401 1,109 Less: net income attributable to noncontrolling interest in subsidiary 3 4 3 3 Net income attributable to First Capital, Inc. $ 1,466 $ 1,228 $ 1,398 $ 1,106 Earnings per common share attributable to First Capital, Inc.: Basic $ 0.53 $ 0.45 $ 0.51 $ 0.38 Diluted $ 0.53 $ 0.45 $ 0.51 $ 0.38 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2017 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | Basis of Consolidation and Reclassifications The consolidated financial statements include the accounts of the Company and its subsidiaries and have been prepared in accordance with generally accepted accounting principles in the United States of America and conform to general practices in the banking industry. Intercompany balances and transactions have been eliminated. Certain prior year amounts have been reclassified to conform to the current year presentation. The reclassifications had no |
Cash and Cash Equivalents, Policy [Policy Text Block] | Statements of Cash Flows For purposes of the statements of cash flows, the Company has defined cash and cash equivalents as cash on hand, amounts due from banks (including cash items in process of clearing), interest-bearing deposits with other banks with an original maturity of 90 |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for loan losses and the valuation of real estate acquired in connection with foreclosures or in satisfaction of loans. In connection with the determination of the allowance for loan losses and the valuation of foreclosed real estate, management obtains independent appraisals for significant properties. A majority of the Company’s loan portfolio consists of single-family residential and commercial real estate loans in the Louisville, Kentucky metropolitan area. Accordingly, the ultimate collectability of a substantial portion of the Company’s loan portfolio and the recovery of the carrying amount of foreclosed real estate are susceptible to changes in local market conditions. While management uses available information to recognize losses on loans and foreclosed real estate, further reductions in the carrying amounts of loans and foreclosed real estate may may may |
Investment, Policy [Policy Text Block] | Investment Securities Securities Available for Sale first Amortization of premiums and accretion of discounts are recognized in interest income using methods approximating the interest method over the period to maturity, adjusted for anticipated prepayments. Unrealized gains and losses, net of tax, on securities available for sale are included in other comprehensive income and the accumulated unrealized holding gains and losses are reported as a separate component of equity until realized. Realized gains and losses on the sale of securities available for sale are determined using the specific identification method and are included in other noninterest income and, when applicable, are reported as a reclassification adjustment, net of tax, in other comprehensive income. Securities Held to Maturity Declines in the fair value of individual available for sale and held to maturity securities below their amortized cost that are other than temporary result in write-downs of the individual securities to their fair value. The related write-downs are included in earnings as realized losses. In estimating other-than-temporary impairment losses, management considers ( 1 2 3 Investments in non-marketable equity securities such as FHLB stock and companies in which the Company has less than a 20% |
Finance, Loans and Leases Receivable, Policy [Policy Text Block] | Loans and Allowance for Loan Losses Loans Held for Investment 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 area. The ability of the Company’s customers to honor their contracts is 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. Nonaccrual Loans The recognition of income on a loan is discontinued and previously accrued interest is reversed when interest or principal payments become 90 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 Impaired Loans 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 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. not Troubled Debt Restructurings The modification of a loan is considered to be a troubled debt restructuring (“TDR”) if the debtor is experiencing financial difficulties and the Company grants a concession to the debtor that it would not not may not not may not A TDR can involve loans remaining on nonaccrual, moving to nonaccrual, or continuing on accrual status, depending on the individual facts and circumstances of the borrower. A TDR on nonaccrual status is restored to accrual status when the borrower has demonstrated the ability to make future payments in accordance with the restructured terms, including consistent and timely payments of at least six Allowance for Loan Losses The allowance for loan losses is established as losses are estimated to have occurred through a 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 collectability of the loans in light of historical experience, the nature and volume of the loan portfolio, adverse situations that may 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 or substandard. For such loans that are classified as impaired, an allowance is established when the underlying discounted collateral value (or present value of estimated future cash flows) 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 five Management also applies additional loss factor multiples to loans classified as watch, special mention and substandard that are not 5 December 31, 2017 2016. 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. The following portfolio segments are considered in the allowance for loan loss analysis: residential real estate, land, construction, commercial real estate, commercial business, home equity and second Residential real estate loans primarily consist of loans to individuals for the purchase or refinance of their primary residence, with a smaller portion of the segment secured by non-owner-occupied residential investment properties and multi-family residential investment properties. The risks associated with residential real estate loans are closely correlated to the local housing market and general economic conditions, as repayment of the loans is primarily dependent on the borrowers’ or tenants’ personal cash flow and employment status. Land loans primarily consist of loans secured by farmland and vacant land held for investment purposes. The risks associated with land loans are related to the market value of the property taken as collateral and the underlying cash flows for loans secured by farmland, and general economic conditions. Construction loans primarily consist of loans secured by single-family residential properties, multi-family properties and commercial projects, and include both owner-occupied and speculative investment properties. Risks inherent in construction lending are related to the market value of the property held as collateral, the cost and timing of constructing or improving a property, the borrower’s ability to use funds generated by a project to service a loan until a project is completed, movements in interest rates and the real estate market during the construction phase, and the ability of the borrower to obtain permanent financing. Commercial real estate loans are comprised of loans secured by various types of collateral including office buildings, warehouses, retail space and mixed use buildings located in the Company’s primary lending area. Risks related to commercial real estate lending are related to the market value of the property taken as collateral, the underlying cash flows and general economic condition of the local real estate market. Repayment of these loans is generally dependent on the ability of the borrower to attract tenants at lease rates that provide for adequate debt service and can be impacted by local economic conditions which impact vacancy rates. The Company generally obtains loan guarantees from financially capable parties for commercial real estate loans. Commercial business loans includes lines of credit to businesses, term loans and letters of credit secured by business assets such as equipment, accounts receivable, inventory, or other assets excluding real estate and are generally made to finance capital expenditures or fund operations. Commercial loans contain risks related to the value of the collateral securing the loan and the repayment is primarily dependent upon the financial success and viability of the borrower. As with commercial real estate loans, the Company generally obtains loan guarantees from financially capable parties for commercial business loans. Home equity and second There were no December 31, 2017 2016. Loan Charge-Offs 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 uncollectability 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 not During 2017 2016, $15,000 $10,000 December 31, 2017, seven $612,000 $867,000 $180,000 December 31, 2016, eight $390,000 $869,000 $345,000 Consumer loans not 90 45 |
Finance, Loan and Lease Receivables, Held-for-sale, Policy [Policy Text Block] | Loans Held for Sale Mortgage loans originated and intended for sale in the secondary market are carried at the lower of aggregate cost or market value. Aggregate market value is determined based on the quoted prices under a “best efforts” sales agreement with a third Commitments to originate mortgage loans held for sale are considered derivative financial instruments to be accounted for at fair value. The Bank’s mortgage loan commitments subject to derivative accounting are fixed-rate mortgage loan commitments at market rates when initiated. At December 31, 2017, $736,000 |
Transfers and Servicing of Financial Assets, Policy [Policy Text Block] | Transfers of Financial Assets The Company accounts for transfers and servicing of financial assets in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 860, Transfers and Servicing 1 2 3 not Transfers of a portion of a loan must meet the criteria of a participating interest. If it does not no no The Company sells financial assets in the normal course of business, the majority of which are related to residential mortgage loan sales through established programs and commercial loan sales through participation agreements. In accordance with accounting guidance for asset transfers, the Company considers any ongoing involvement with transferred assets in determining whether the assets can be derecognized from the balance sheet. With the exception of servicing and certain performance-based guarantees, the Company's continuing involvement with financial assets sold is minimal and generally limited to market customary representation and warranty clauses. |
Loans and Leases Receivable, Real Estate Acquired Through Foreclosure, Policy [Policy Text Block] | Foreclosed Real Estate Foreclosed real estate includes formally foreclosed property held for sale. At the time of foreclosure, foreclosed real estate is recorded at fair value less estimated costs to sell, which becomes the property’s new basis. Any write-downs based on the property’s fair value at the date of acquisition are charged to the allowance for loan losses. After foreclosure, valuations are periodically performed by management and property held for sale is carried at the lower of the new cost basis or fair value less cost to sell. Costs incurred in maintaining foreclosed real estate and subsequent impairment adjustments to the carrying amount of a property, if any, are included in net loss on foreclosed real estate. |
Property, Plant and Equipment, Policy [Policy Text Block] | Premises and Equipment Premises and equipment are stated at cost less accumulated depreciation. The Company uses the straight line method of computing depreciation at rates adequate to amortize the cost of the applicable assets over their estimated useful lives. Maintenance and repairs are expensed as incurred. The cost and related accumulated depreciation of assets sold, or otherwise disposed of, are removed from the related accounts and any gain or loss is included in earnings. |
Cash Surrender Value of Life Insurance [Policy Text Block] | Cash Surrender Value of Life Insurance The Bank has purchased life insurance policies on certain directors, officers and key employees to offset costs associated with the Bank’s compensation and benefit programs. The Bank is the owner and is a joint or sole beneficiary of the policies. Bank-owned life insurance is recorded at the amount that can be realized under the insurance contracts at the balance sheet date, which is the cash surrender value adjusted for other charges or other amounts due that are probable at settlement. Income from the increase in cash surrender value of the policies and income from the realization of death benefits is reported in noninterest income. |
Goodwill and Intangible Assets, Policy [Policy Text Block] | Goodwill and Other Intangibles Goodwill recognized in a business combination represents the excess of the cost of the acquired entity over the net of the amounts assigned to assets acquired and liabilities assumed. Goodwill is evaluated for possible impairment at least annually or more frequently upon the occurrence of an event or change in circumstances that would more likely than not not 1 2 3 Other intangible assets consist of acquired core deposit intangibles. Core deposit intangibles are amortized over the estimated economic lives of the acquired core deposits. The carrying amount of core deposit intangibles and the remaining estimated economic life are evaluated annually or whenever events or circumstances indicate the carrying amount may not |
Securities Borrowed and Loaned Policy [Policy Text Block] | Securities Lending and Financing Arrangements Securities purchased under agreements to resell (reverse repurchase agreements) and securities sold under agreements to repurchase (repurchase agreements) are treated as collateralized lending and borrowing transactions, respectively, and are carried at the amounts at which the securities were initially acquired or sold. |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | Stock-Based Compensation The Company has adopted the fair value based method of accounting for stock-based compensation prescribed in FASB ASC Topic 718 |
Advertising Costs, Policy [Policy Text Block] | Advertising Costs Advertising costs are charged to operations when incurred. |
Income Tax, Policy [Policy Text Block] | Income Taxes When income tax returns are filed, it is highly certain that some positions taken would be sustained upon examination by the taxing authorities, while other positions are subject to some degree of uncertainty regarding the merits of the position taken or the amount of the position that would be sustained. The Company recognizes the benefits of a tax position in the consolidated financial statements of the period during which, based on all available evidence, management believes it is more-likely-than- not 50 not 50 Income taxes are provided for the tax effects of the transactions reported in the financial statements and consist of taxes currently due plus deferred income taxes. Income tax reporting and financial statement reporting rules differ in many respects. As a result, there will often be a difference between the carrying amount of an asset or liability as presented in the accompanying consolidated balance sheets and the amount that would be recognized as the tax basis of the same asset or liability computed based on the effects of tax positions recognized, as described in the preceding paragraph. These differences are referred to as temporary differences because they are expected to reverse in future years. Deferred income tax assets are recognized for temporary differences where their future reversal will result in future tax benefits. Deferred income tax assets are also recognized for the future tax benefits expected to be realized from net operating loss or tax credit carryforwards. Deferred income tax liabilities are recognized for temporary differences where their future reversal will result in the payment of future income taxes. Deferred income tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not not |
Comprehensive Income, Policy [Policy Text Block] | Comprehensive Income Comprehensive income consists of reported net income and other comprehensive income. Other comprehensive income refers to revenue, expenses, gains and losses that are recorded as an element of equity but are excluded from reported net income. Other comprehensive income includes changes in the unrealized gains and losses on securities available for sale. Amounts reclassified out of unrealized gains or losses on securities available for sale included in accumulated other comprehensive income or loss (“AOCI”) are included in the net gain on sale of securities line item in the consolidated statements of income. |
Commitments and Contingencies, Policy [Policy Text Block] | Loss Contingencies Loss contingencies, including claims and legal actions arising in the ordinary course of business, are recorded as liabilities when the likelihood of loss is probable and an amount or range of loss can be reasonably estimated. |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentration of Credit Risk The Company and its subsidiaries maintain cash balances at various financial institutions. At times, these cash balances may |
New Accounting Pronouncements, Policy [Policy Text Block] | 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 January 2016, No. 2016 01, Financial Instruments – Overall (Subtopic 825 10 1 2 No. 2016 01 December 15, 2017, not In February 2016, No. 2016 02, Leases (Topic 842 12 not December 15, 2018, not In June 2016, No. 2016 13, Financial Instruments – Credit Losses (Topic 326 December 15, 2019, December 15, 2018, one first 2016 13, In January 2017, No. 2017 04, Intangibles – Goodwill and Other (Topic 350 2 not December 15, 2019. January 1, 2017. not In March 2017, No. 2017 08, Receivables – Nonrefundable Fees and Other Costs (Subtopic 310 20 not December 15, 2018. not In February 2018, No. 2018 02, Income Statement – Reporting Comprehensive Income (Topic 220 740, Income Taxes not December 22, 2017. December 15, 2018. not December 31, 2017 $352,000 2017. |
Note 2 - Acquisition of Peopl35
Note 2 - Acquisition of Peoples Bancorp, Inc. of Bullitt County (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | (In thousands) Cash and cash equivalents $ 33,458 Interest-bearing time deposits 4,980 Investment securities 131,959 Loans 55,727 FHLB and other stock 1,295 Foreclosed real estate 4,349 Premises and equipment 3,465 Cash value of life insurance 828 Goodwill 1,085 Core deposit intangible 1,418 Other assets 1,886 Total assets acquired 240,450 Deposit accounts 209,084 Net deferred tax liability 17 Other liabilities 1,846 Total liabilities assumed 210,947 Total consideration $ 29,503 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Table Text Block] | (In thousands) Fair Value Gross Estimated Contractual Cash Flows Not Expected to be Collected Acquired loans subject to ASC 310-30 $ 1,570 $ 2,934 $ 1,033 Acquired loans not subject to ASC 310-30 54,157 60,013 1,927 Total acquired loans $ 55,727 $ 62,947 $ 2,960 |
Business Acquisition, Pro Forma Information [Table Text Block] | Pro Forma Year Ended December 31, 2015 (In thousands) Revenue (interest income and noninterest income) $ 32,655 Net income 6,284 |
Note 4 - Investment Securities
Note 4 - Investment Securities (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Marketable Securities [Table Text Block] | Gross Gross Amortized Unrealized Unrealized Fair (In thousands) Cost Gains Losses Value December 31, 2017: Securities available for sale: Agency mortgage-backed securities $ 114,902 $ - $ 2,253 $ 112,649 Agency CMO 15,660 1 338 15,323 Other debt securities: Agency notes and bonds 70,013 - 985 69,028 Municipal obligations 73,303 1,274 405 74,172 Total securities available for sale $ 273,878 $ 1,275 $ 3,981 $ 271,172 Securities held to maturity: Agency mortgage-backed securities $ 1 $ - $ - $ 1 Total securities held to maturity $ 1 $ - $ - $ 1 December 31, 2016: Securities available for sale: Agency mortgage-backed securities $ 110,493 $ 93 $ 2,349 $ 108,237 Agency CMO 16,293 23 288 16,028 Other debt securities: Agency notes and bonds 69,407 14 759 68,662 Municipal obligations 63,189 783 1,129 62,843 Total securities available for sale $ 259,382 $ 913 $ 4,525 $ 255,770 Securities held to maturity: Agency mortgage-backed securities $ 2 $ - $ - $ 2 Total securities held to maturity $ 2 $ - $ - $ 2 |
Investments Classified by Contractual Maturity Date [Table Text Block] | Securities Available for Sale Securities Held to Maturity Amortized Fair Amortized Fair Cost Value Cost Value (In thousands) Due in one year or less $ 2,642 $ 2,636 $ - $ - Due after one year through five years 77,309 76,343 - - Due after five years through ten years 29,553 29,611 - - Due after ten years 33,812 34,610 - - 143,316 143,200 - - Mortgage-backed securities and CMO 130,562 127,972 1 1 $ 273,878 $ 271,172 $ 1 $ 1 |
Schedule of Unrealized Loss on Investments [Table Text Block] | Number of Gross Investment Fair Unrealized (Dollars in thousands) Positions Value Losses December 31, 2017: Continuous loss position less than twelve months: Agency mortgage-backed securities 37 $ 37,570 $ 400 Agency CMO 6 3,036 38 Agency notes and bonds 4 11,119 69 Municipal obligations 20 10,955 83 Total less than twelve months 67 62,680 590 Continuous loss position more than twelve months: Agency mortgage-backed securities 60 74,960 1,853 Agency CMO 18 11,801 300 Agency notes and bonds 19 57,909 916 Municipal obligations 29 14,667 322 Total more than twelve months 126 159,337 3,391 Total securities available for sale 193 $ 222,017 $ 3,981 Number of Gross Investment Fair Unrealized (Dollars in thousands) Positions Value Losses December 31, 2016: Continuous loss position less than twelve months: Agency mortgage-backed securities 78 $ 101,838 $ 2,336 Agency CMO 13 11,767 239 Agency notes and bonds 20 59,126 759 Municipal obligations 54 28,414 1,129 Total less than twelve months 165 201,145 4,463 Continuous loss position more than twelve months: Agency mortgage-backed securities 1 531 13 Agency CMO 5 2,502 49 Total more than twelve months 6 3,033 62 Total securities available for sale 171 $ 204,178 $ 4,525 |
Note 5 - Loans and Allowance 37
Note 5 - Loans and Allowance for Loan Losses (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | (In thousands) 2017 2016 Real estate mortgage loans: Residential $ 136,399 $ 137,842 Land 18,198 13,895 Residential construction 28,854 29,561 Commercial real estate 100,133 96,462 Commercial real estate construction 17,161 8,921 Commercial business loans 34,114 24,056 Consumer loans: Home equity and second mortgage loans 49,802 42,908 Automobile loans 38,361 34,279 Loans secured by deposits 1,751 1,879 Unsecured loans 3,744 3,912 Other consumer loans 8,714 9,025 Gross loans 437,231 402,740 Less undisbursed portion of loans in process (25,020 ) (19,037 ) Principal loan balance 412,211 383,703 Deferred loan origination fees and costs, net 1,041 837 Allowance for loan losses (3,634 ) (3,386 ) Loans, net $ 409,618 $ 381,154 |
Schedule of Related Party Transactions [Table Text Block] | (In thousands) 2017 2016 Beginning balance $ 7,844 $ 8,175 Adjustments due to officer and director changes (93 ) (900 ) New loans 1,303 2,897 Payments (1,415 ) (2,328 ) Ending balance $ 7,639 $ 7,844 |
Schedule of Credit Losses Related to Financing Receivables, Current and Noncurrent [Table Text Block] | Residential Real Estate Land Construction Commercial Commercial Home Other Total (In thousands) Allowance for Loan Losses: Beginning balance $ 380 $ 56 $ 80 $ 1,670 $ 198 $ 683 $ 319 $ 3,386 Provisions (120 ) 77 165 (124 ) 226 28 663 915 Charge-offs (74 ) - - (3 ) (140 ) (6 ) (713 ) (936 ) Recoveries 33 - - 79 7 5 145 269 Ending balance $ 219 $ 133 $ 245 $ 1,622 $ 291 $ 710 $ 414 $ 3,634 Ending allowance balance attributable to loans: Individually evaluated for impairment $ 35 $ - $ - $ - $ 4 $ 13 $ - $ 52 Collectively evaluated for impairment 182 133 245 1,622 287 697 414 3,580 Acquired with deteriorated credit quality 2 - - - - - - 2 Ending balance $ 219 $ 133 $ 245 $ 1,622 $ 291 $ 710 $ 414 $ 3,634 Recorded Investment in Loans: Individually evaluated for impairment $ 2,907 $ - $ - $ 401 $ 42 $ 73 $ - $ 3,423 Collectively evaluated for impairment 133,703 18,309 21,034 99,891 34,161 50,905 52,793 410,796 Acquired with deteriorated credit quality 350 - - 48 - - - 398 Ending balance $ 136,960 $ 18,309 $ 21,034 $ 100,340 $ 34,203 $ 50,978 $ 52,793 $ 414,617 Residential Real Estate Land Construction Commercial Real Estate Commercial Business Home Other Consumer Total (In thousands) Allowance for Loan Losses: Beginning balance $ 527 $ 157 $ 47 $ 1,541 $ 261 $ 626 $ 256 $ 3,415 Provisions (87 ) (92 ) 33 157 187 79 368 645 Charge-offs (118 ) (9 ) - (82 ) (264 ) (36 ) (409 ) (918 ) Recoveries 58 - - 54 14 14 104 244 Ending balance $ 380 $ 56 $ 80 $ 1,670 $ 198 $ 683 $ 319 $ 3,386 Ending allowance balance attributable to loans: Individually evaluated for impairment $ 23 $ - $ - $ - $ 43 $ 13 $ 6 $ 85 Collectively evaluated for impairment 357 56 80 1,670 155 670 313 3,301 Acquired with deteriorated credit quality - - - - - - - - Ending balance $ 380 $ 56 $ 80 $ 1,670 $ 198 $ 683 $ 319 $ 3,386 Recorded Investment in Loans: Individually evaluated for impairment $ 2,083 $ - $ - $ 1,217 $ 143 $ 244 $ 20 $ 3,707 Collectively evaluated for impairment 135,904 13,951 19,489 95,212 23,983 43,587 49,301 381,427 Acquired with deteriorated credit quality 390 - - 240 - - - 630 Ending balance $ 138,377 $ 13,951 $ 19,489 $ 96,669 $ 24,126 $ 43,831 $ 49,321 $ 385,764 Residential Real Estate Land Construction Commercial Real Estate Commercial Business Home Other Consumer Total (In thousands) Allowance for Loan Losses: Beginning balance $ 609 $ 201 $ 60 $ 1,501 $ 1,480 $ 720 $ 275 $ 4,846 Provisions 35 (44 ) (13 ) 6 (23 ) (49 ) 138 50 Charge-offs (128 ) - - - (1,205 ) (78 ) (268 ) (1,679 ) Recoveries 11 - - 34 9 33 111 198 Ending balance $ 527 $ 157 $ 47 $ 1,541 $ 261 $ 626 $ 256 $ 3,415 |
Impaired Financing Receivables [Table Text Block] | Unpaid Average Interest Recorded Principal Related Recorded Income Investment Balance Allowance Investment Recognized (In thousands) Loans with no related allowance recorded: Residential real estate $ 2,695 $ 2,948 $ - $ 2,437 $ 28 Land - - - - 2 Construction - - - - - Commercial real estate 401 535 - 686 16 Commercial business 12 12 - 57 1 Home equity and second mortgage 60 68 - 194 1 Other consumer - - - 4 - $ 3,168 $ 3,563 $ - $ 3,378 $ 48 Loans with an allowance recorded: Residential real estate $ 212 $ 218 $ 35 $ 140 $ - Land - - - - - Construction - - - - - Commercial real estate - - - - - Commercial business 30 30 4 40 - Home equity and second mortgage 13 13 13 20 - Other consumer - - - 14 - $ 255 $ 261 $ 52 $ 214 $ - Total: Residential real estate $ 2,907 $ 3,166 $ 35 $ 2,577 $ 28 Land - - - - 2 Construction - - - - - Commercial real estate 401 535 - 686 16 Commercial business 42 42 4 97 1 Home equity and second mortgage 73 81 13 214 1 Other consumer - - - 18 - $ 3,423 $ 3,824 $ 52 $ 3,592 $ 48 Unpaid Average Interest Recorded Principal Related Recorded Income Investment Balance Allowance Investment Recognized (In thousands) Loans with no related allowance recorded: Residential real estate $ 1,871 $ 2,223 $ - $ 1,904 $ 26 Land - - - 5 - Construction - - - - 3 Commercial real estate 1,217 1,540 - 2,959 60 Commercial business 75 81 - 66 - Home equity and second mortgage 231 237 - 88 2 Other consumer - - - 4 1 $ 3,394 $ 4,081 $ - $ 5,026 $ 92 Loans with an allowance recorded: Residential real estate $ 212 $ 217 $ 23 $ 148 $ - Land - - - - - Construction - - - - - Commercial real estate - - - 99 - Commercial business 68 68 43 54 - Home equity and second mortgage 13 14 13 27 - Other consumer 20 20 6 22 - $ 313 $ 319 $ 85 $ 350 $ - Total: Residential real estate $ 2,083 $ 2,440 $ 23 $ 2,052 $ 26 Land - - - 5 - Construction - - - - 3 Commercial real estate 1,217 1,540 - 3,058 60 Commercial business 143 149 43 120 - Home equity and second mortgage 244 251 13 115 2 Other consumer 20 20 6 26 1 $ 3,707 $ 4,400 $ 85 $ 5,376 $ 92 Average Interest Recorded Income Investment Recognized (In thousands) Loans with no related allowance recorded: Residential real estate $ 1,356 $ 19 Land 20 - Construction - - Commercial real estate 2,092 76 Commercial business 19 - Home equity and second mortgage 64 2 Other consumer - - $ 3,551 $ 97 Loans with an allowance recorded: Residential real estate $ 190 $ - Land - - Construction - - Commercial real estate 78 - Commercial business 355 - Home equity and second mortgage 80 - Other consumer - - $ 703 $ - Total: Residential real estate $ 1,546 $ 19 Land 20 - Construction - - Commercial real estate 2,170 76 Commercial business 374 - Home equity and second mortgage 144 2 Other consumer - - $ 4,254 $ 97 |
Schedule of Financing Receivables, Non Accrual Status [Table Text Block] | December 31, 2017 December 31, 2016 Nonaccrual Loans 90+ Days Total Nonperforming Loans Nonaccrual Loans 90+ Days Total Nonperforming Loans (In thousands) Residential real estate $ 2,298 $ 109 $ 2,407 $ 1,634 $ 55 $ 1,689 Land - 95 95 - - - Construction - - - - - - Commercial real estate 139 - 139 924 - 924 Commercial business 42 59 101 142 - 142 Home equity and second mortgage 57 - 57 226 - 226 Other consumer - 28 28 20 23 43 Total $ 2,536 $ 291 $ 2,827 $ 2,946 $ 78 $ 3,024 |
Past Due Financing Receivables [Table Text Block] | 30-59 Days 60-89 Days Over Total Current Purchased Credit Impaired Loans Total (In thousands) Residential real estate $ 2,612 $ 338 $ 1,255 $ 4,205 $ 132,405 $ 350 $ 136,960 Land 186 - 95 281 18,028 - 18,309 Construction - - - - 21,034 - 21,034 Commercial real estate 379 - 139 518 99,774 48 100,340 Commercial business 46 49 102 197 34,006 - 34,203 Home equity and second mortgage 468 27 13 508 50,470 - 50,978 Other consumer 420 37 28 485 52,308 - 52,793 Total $ 4,111 $ 451 $ 1,632 $ 6,194 $ 408,025 $ 398 $ 414,617 30-59 Days 60-89 Days Over Total Current Purchased Credit Impaired Loans Total (In thousands) Residential real estate $ 2,444 $ 707 $ 1,021 $ 4,172 $ 133,815 $ 390 $ 138,377 Land - 52 - 52 13,899 - 13,951 Construction - - - - 19,489 - 19,489 Commercial real estate - - 27 27 96,402 240 96,669 Commercial business 155 - 83 238 23,888 - 24,126 Home equity and second mortgage 352 - 13 365 43,466 - 43,831 Other consumer 319 66 43 428 48,893 - 49,321 Total $ 3,270 $ 825 $ 1,187 $ 5,282 $ 379,852 $ 630 $ 385,764 |
Financing Receivable Credit Quality Indicators [Table Text Block] | Residential Land Construction Commercial Real Estate Commercial Business Home Other Consumer Total (In thousands) December 31, 2017: Pass $ 133,618 $ 18,003 $ 20,173 $ 97,219 $ 33,245 $ 50,919 $ 52,629 $ 405,806 Special mention 348 157 861 1,362 734 - 161 3,623 Substandard 684 149 - 1,620 182 2 3 2,640 Doubtful 2,310 - - 139 42 57 - 2,548 Loss - - - - - - - - Total $ 136,960 $ 18,309 $ 21,034 $ 100,340 $ 34,203 $ 50,978 $ 52,793 $ 414,617 December 31, 2016 Pass $ 135,328 $ 13,795 $ 19,489 $ 87,782 $ 23,246 $ 43,601 $ 49,256 $ 372,497 Special mention 403 86 - 1,892 661 - 45 3,087 Substandard 721 70 - 5,991 77 4 - 6,863 Doubtful 1,925 - - 1,004 142 226 20 3,317 Loss - - - - - - - - Total $ 138,377 $ 13,951 $ 19,489 $ 96,669 $ 24,126 $ 43,831 $ 49,321 $ 385,764 |
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | December 31, 2017 December 31, 2016 Accruing Nonaccrual Total Related Accruing Nonaccrual Total Related (In thousands) Residential real estate $ 487 $ 106 $ 593 $ - $ 433 $ 229 $ 662 $ - Commercial real estate 356 - 356 - 291 168 459 - Home equity and second mortgage 15 - 15 - 18 - 18 - Total $ 858 $ 106 $ 964 $ - $ 742 $ 397 $ 1,139 $ - |
Schedule of Purchased Credit Impaired Loans [Table Text Block] | (In thousands) 2017 2016 Residential real estate $ 350 $ 390 Commercial real estate 48 240 Carrying amount 398 630 Allowance for loan losses 2 - $ 396 $ 630 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Table Text Block] | (In thousands) 2017 2016 2015 Beginning balance $ 252 $ 319 $ - New loans acquired - - 331 Accretion to income (55 ) (75 ) (12 ) Disposals of loans (21 ) (93 ) - Reclassification (to) from nonaccretable difference 294 101 - Ending balance $ 470 $ 252 $ 319 |
Financing Receivable [Member] | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | Residential Land Construction Commercial Real Estate Commercial Business Home Other Consumer Total (In thousands) December 31, 2017: Principal loan balance $ 136,399 $ 18,198 $ 20,995 $ 100,133 $ 34,114 $ 49,802 $ 52,570 $ 412,211 Accrued interest receivable 474 94 49 249 87 189 223 1,365 Net deferred loan origination fees and costs 87 17 (10 ) (42 ) 2 987 - 1,041 Recorded investment in loans $ 136,960 $ 18,309 $ 21,034 $ 100,340 $ 34,203 $ 50,978 $ 52,793 $ 414,617 December 31, 2016: Principal loan balance $ 137,842 $ 13,895 $ 19,445 $ 96,462 $ 24,056 $ 42,908 $ 49,095 $ 383,703 Accrued interest receivable 455 42 44 249 67 141 226 1,224 Net deferred loan origination fees and costs 80 14 - (42 ) 3 782 - 837 Recorded investment in loans $ 138,377 $ 13,951 $ 19,489 $ 96,669 $ 24,126 $ 43,831 $ 49,321 $ 385,764 |
Note 6 - Premises and Equipme38
Note 6 - Premises and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | (In thousands) 2017 2016 Land and land improvements $ 5,297 $ 5,297 Leasehold improvements 134 134 Office buildings 13,849 13,136 Furniture, fixtures and equipment 5,973 5,723 25,253 24,290 Less accumulated depreciation 10,222 9,449 Totals $ 15,031 $ 14,841 |
Note 7 - Foreclosed Real Esta39
Note 7 - Foreclosed Real Estate (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Foreclosed Real Estate Activity [Table Text Block] | (In thousands) 2017 2016 2015 Beginning balance $ 4,674 $ 4,890 $ 78 Obtained in acquisition - - 4,349 Transfers from loans to foreclosed real estate 555 1,307 809 Direct write-downs (263 ) (80 ) (100 ) Sales (1,023 ) (1,504 ) (245 ) Capitalized expenses and other adjustments 28 61 (1 ) Ending balance $ 3,971 $ 4,674 $ 4,890 |
Net Loss on Foreclosed Real Estate [Table Text Block] | (In thousands) 2017 2016 2015 Net (gain) loss on sales $ (3 ) $ (30 ) $ 15 Direct write-downs 263 80 100 Operating expenses, net of income 56 94 47 $ 316 $ 144 $ 162 |
Note 8 - Goodwill and Other I40
Note 8 - Goodwill and Other Intangibles (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | (In thousands) 2017 2016 Core deposit intangible acquired in Peoples acquisition $ 1,418 $ 1,418 Less accumulated amortization 306 159 $ 1,112 $ 1,259 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | Years ending December 31: (In thousands) 2018 $ 147 2019 147 2020 147 2021 147 2022 147 2023 and thereafter 377 Total $ 1,112 |
Note 9 - Deposits (Tables)
Note 9 - Deposits (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Time Deposit Contractual Maturities [Table Text Block] | Year ending December 31: (In thousands) 2018 $ 40,621 2019 12,382 2020 6,861 2021 8,799 2022 and thereafter 4,856 Total $ 73,519 |
Note 13 - Income Taxes (Tables)
Note 13 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | (In thousands) 2017 2016 2015 Current $ 2,755 $ 2,303 $ 1,292 Deferred 348 220 672 Totals $ 3,103 $ 2,523 $ 1,964 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | (In thousands) 2017 2016 2015 Provision at federal statutory tax rate $ 3,589 $ 3,196 $ 2,440 State income tax-net of federal tax benefit 96 111 107 Change in state statutory tax rate (5 ) (4 ) (4 ) Revaluation of net deferred tax asset due to change in federal income tax rate 290 - - Tax-exempt interest income (507 ) (416 ) (405 ) Bank-owned life insurance income (73 ) (62 ) (83 ) Captive insurance net premiums (290 ) (294 ) (322 ) Nondeductible acquisition expense - - 219 Other 3 (8 ) 12 Totals $ 3,103 $ 2,523 $ 1,964 Effective tax rate 29.4 % 26.8 % 27.4 % |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | (In thousands) 2017 2016 Deferred tax assets (liabilities): Deferred compensation plans $ 121 $ 200 Allowance for loan losses 743 876 Accrued expenses - 45 Unrealized loss on securities available for sale 647 1,335 Restricted stock 11 16 Valuation allowance on foreclosed real estate 87 119 Interest on nonaccrual loans 220 265 Other 58 26 Deferred tax assets 1,887 2,882 Depreciation (587 ) (632 ) Deferred loan fees and costs (262 ) (261 ) FHLB stock dividends (37 ) (56 ) Prepaid expenses (201 ) (295 ) Acquisition purchase accounting adjustments (184 ) (334 ) Other (39 ) (43 ) Deferred tax liabilities (1,310 ) (1,621 ) Net deferred tax asset $ 577 $ 1,261 |
Note 16 - Stock-based Compens43
Note 16 - Stock-based Compensation Plan (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block] | Weighted Number Average of Grant-Date Shares Fair Value Nonvested at beginning of year 14,000 $ 24.50 Granted - - Vested 3,500 24.50 Forfeited - - Nonvested at end of year 10,500 $ 24.50 |
Note 17 - Commitments and Con44
Note 17 - Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Commitments to Extend Credit [Table Text Block] | (In thousands) 2017 2016 Loan commitments: Fixed rate $ 933 $ 4,542 Adjustable rate 8,245 10,661 Standby letters of credit 1,246 1,245 Unused lines of credit on credit cards 5,660 5,463 Undisbursed commercial and personal lines of credit 32,302 32,125 Undisbursed portion of construction loans in process 25,020 19,037 Undisbursed portion of home equity lines of credit 44,494 33,490 $ 117,900 $ 106,563 |
Note 19 - Regulatory Matters (T
Note 19 - Regulatory Matters (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | Actual Minimum to be Well (Dollars in thousands) Amount Ratio Amount Ratio Amount Ratio As of December 31, 2017: Total capital (to risk weighted assets) $ 75,704 14.49 % $ 48,314 9.25 % $ 52,231 10.00 % Tier 1 capital (to risk weighted assets) $ 72,070 13.80 % $ 37,868 7.25 % $ 41,785 8.00 % Common equity Tier 1 capital (to risk weighted assets) $ 72,070 13.80 % $ 30,033 5.75 % $ 33,950 6.50 % Tier 1 capital (to average assets) $ 72,070 9.67 % $ 29,812 4.00 % $ 37,266 5.00 % As of December 31, 2016: Total capital (to risk weighted assets) $ 71,832 14.98 % $ 41,354 8.625 % $ 47,946 10.00 % Tier 1 capital (to risk weighted assets) $ 68,446 14.28 % $ 31,764 6.625 % $ 38,357 8.00 % Common equity Tier 1 capital (to risk weighted assets) $ 68,446 14.28 % $ 24,572 5.125 % $ 31,165 6.50 % Tier 1 capital (to average assets) $ 68,446 9.30 % $ 29,447 4.000 % $ 36,809 5.00 % |
Note 20 - Fair Value Measurem46
Note 20 - Fair Value Measurements (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Table Text Block] | Carrying Value Level 1 Level 2 Level 3 Total (In thousands) December 31, 2017: Assets Measured on a Recurring Basis Securities available for sale: Agency mortgage-backed securities $ - $ 112,649 $ - $ 112,649 Agency CMO - 15,323 - 15,323 Agency notes and bonds - 69,028 - 69,028 Municipal obligations - 74,172 - 74,172 Total securities available for sale $ - $ 271,172 $ - $ 271,172 Assets Measured on a Nonrecurring Basis Impaired loans: Residential real estate $ - $ - $ 2,872 $ 2,872 Commercial real estate - - 401 401 Commercial business - - 38 38 Home equity and second mortgage - - 60 60 Total impaired loans $ - $ - $ 3,371 $ 3,371 Loans held for sale $ - $ 2,630 $ - $ 2,630 Foreclosed real estate: Residential real estate $ - $ - $ 443 $ 443 Commercial real estate - - 3,528 3,528 Total foreclosed real estate $ - $ - $ 3,971 $ 3,971 Carrying Value Level 1 Level 2 Level 3 Total (In thousands) December 31, 2016: Assets Measured on a Recurring Basis Securities available for sale: Agency mortgage-backed securities $ - $ 108,237 $ - $ 108,237 Agency CMO - 16,028 - 16,028 Agency notes and bonds - 68,662 - 68,662 Municipal obligations - 62,843 - 62,843 Total securities available for sale $ - $ 255,770 $ - $ 255,770 Assets Measured on a Nonrecurring Basis Impaired loans: Residential real estate $ - $ - $ 2,060 $ 2,060 Commercial real estate - - 1,217 1,217 Commercial business - - 100 100 Home equity and second mortgage - - 231 231 Other consumer - - 14 14 Total impaired loans $ - $ - $ 3,622 $ 3,622 Loans held for sale $ - $ 4,507 $ - $ 4,507 Foreclosed real estate: Residential real estate $ - $ - $ 226 $ 226 Commercial real estate - - 4,448 4,448 Total foreclosed real estate $ - $ - $ 4,674 $ 4,674 |
Note 21 - Disclosures About F47
Note 21 - Disclosures About Fair Value of Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Fair Value, by Balance Sheet Grouping [Table Text Block] | Fair Value Measurements Using Carrying Fair (In thousands) Value Value Level 1 Level 2 Level 3 December 31, 2017: Financial assets: Cash and cash equivalents $ 25,915 $ 25,915 $ 25,915 $ - $ - Interest-bearing time deposits 9,258 9,220 - 9,220 - Securities available for sale 271,172 271,172- 271,172 - Securities held to maturity 1 1 - 1 - Loans held for sale 2,630 2,678 - 2,678 - Loans, net 409,618 404,931 - - 404,931 FHLB and other stock 1,979 N/A N/A N/A N/A Accrued interest receivable 2,694 2,694 - 2,694 - Financial liabilities: Deposits 664,562 663,006 - - 663,006 FHLB advances 10,000 10,000 - 10,000 - Accrued interest payable 107 107 - 107 - December 31, 2016: Financial assets: Cash and cash equivalents $ 45,909 $ 45,909 $ 45,909 $ - $ - Interest-bearing time deposits 14,735 14,786 - 14,786 - Securities available for sale 255,770 255,770 - 255,770 - Securities held to maturity 2 2 - 2 - Loans held for sale 4,507 4,598 - 4,598 - Loans, net 381,154 381,459 - - 381,459 FHLB and other stock 1,650 N/A N/A N/A N/A Accrued interest receivable 2,363 2,363 - 2,363 - Financial liabilities: Deposits 664,650 663,806 - - 663,806 Accrued interest payable 133 133 - 133 - |
Note 22 - Parent Company Cond48
Note 22 - Parent Company Condensed Financial Information (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Condensed Financial Information of Parent Company Only, Statements of Financial Condition [Table Text Block] | Balance Sheets (In thousands) As of December 31, 2017 2016 Assets: Cash and cash equivalents $ 1,850 $ 727 Other assets 234 243 Investment in subsidiaries 78,854 74,790 $ 80,938 $ 75,760 Liabilities and Equity: Accrued expenses $ - $ 30 Stockholders' equity 80,938 75,730 $ 80,938 $ 75,760 |
Condensed Financial Information of Parent Company Only, Statement of Income [Table Text Block] | Statements of Income (In thousands) Years Ended December 31, 2017 2016 2015 Dividend income from subsidiaries $ 4,175 $ 2,550 $ 18,200 Other income 4 152 9 Other operating expenses (383 ) (534 ) (1,116 ) Income before income taxes and equity in undistributed net income of subsidiaries 3,796 2,168 17,093 Income tax benefit 147 158 179 Income before equity in undistributed net income of subsidiaries 3,943 2,326 17,272 Equity in undistributed net income of subsidiaries 3,496 4,538 (12,074 ) Net income $ 7,439 $ 6,864 $ 5,198 |
Condensed Financial Information of Parent Company Only, Statements of Cash Flows [Table Text Block] | Statements of Cash Flows (In thousands) Years Ended December 31, 2017 2016 2015 Operating Activities: Net income $ 7,439 $ 6,864 $ 5,198 Adjustments to reconcile net income to cash and cash equivalents provided by operating activities: Equity in undistributed net income of subsidiaries (3,496 ) (4,538 ) 12,074 Stock compensation expense 88 82 71 Gain on sale of cost method equity investment - (145 ) - Net change in other assets and liabilities (20 ) (15 ) 3 Net cash provided by operating activities 4,011 2,248 17,346 Investing Activities: Proceeds from sale of cost method equity investment - 856 - Net cash paid in acquisition of Peoples - - (14,748 ) Net cash provided by (used in) investing activities - 856 (14,748 ) Financing Activities: Purchase of treasury stock (18 ) (34 ) (10 ) Cash dividends paid (2,870 ) (2,804 ) (2,436 ) Net cash used in financing activities (2,888 ) (2,838 ) (2,446 ) Net increase in cash and cash equivalents 1,123 266 152 Cash and cash equivalents at beginning of year 727 461 309 Cash and cash equivalents at end of year $ 1,850 $ 727 $ 461 |
Note 23 - Supplemental Disclo49
Note 23 - Supplemental Disclosure of Cash Flow Information (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block] | Years Ended December 31, (In thousands) 2017 2016 2015 Cash payments for: Interest $ 1,466 $ 1,914 $ 978 Income taxes (net of refunds received) 3,010 1,054 1,040 Noncash investing activities: Transfers from loans to foreclosed real estate $ 555 $ 1,307 $ 809 Proceeds from sales of foreclosed real estate financed through loans 15 288 - Noncash financing activity: Issuance of common stock in Peoples acquisition $ - $ - $ 14,755 |
Note 24 - Supplemental Disclo50
Note 24 - Supplemental Disclosure for Earnings Per Share (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | (In thousands, except share and per share data) Years Ended December 31, 2017 2016 2015 Basic: Net income attributable to First Capital, Inc. $ 7,439 $ 6,864 $ 5,198 Shares: Weighted average common shares outstanding 3,325,032 3,340,566 2,783,508 Net income per common share attributable to First Capital, Inc., basic $ 2.24 $ 2.05 $ 1.87 Diluted: Net income attributable to First Capital, Inc. $ 7,439 $ 6,864 $ 5,198 Shares: Weighted average common shares outstanding 3,325,032 3,340,566 2,783,508 Add: Dilutive effect of restricted stock 4,531 2,850 404 Weighted average common shares outstanding, as adjusted 3,329,563 3,343,416 2,783,912 Net income per common share attributable to First Capital, Inc., diluted $ 2.23 $ 2.05 $ 1.87 |
Note 25 - Selected Quarterly 51
Note 25 - Selected Quarterly Financial Information (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Quarterly Financial Information [Table Text Block] | First Second Third Fourth Quarter Quarter Quarter Quarter 2017 (In thousands, except per share data) Interest income $ 6,343 $ 6,578 $ 6,728 $ 6,773 Interest expense 359 346 343 344 Net interest income 5,984 6,232 6,385 6,429 Provision for loan losses 211 256 150 298 Net interest income after provision for loan losses 5,773 5,976 6,235 6,131 Noninterest income 1,453 1,856 1,748 1,641 Noninterest expenses 5,155 4,803 5,046 5,254 Income before income taxes 2,071 3,029 2,937 2,518 Income tax expense 515 835 825 928 Net income 1,556 2,194 2,112 1,590 Less: net income attributable to noncontrolling interest in subsidiary 3 4 3 3 Net income attributable to First Capital, Inc. $ 1,553 $ 2,190 $ 2,109 $ 1,587 Earnings per common share attributable to First Capital, Inc.: Basic $ 0.46 $ 0.66 $ 0.63 $ 0.49 Diluted $ 0.46 $ 0.66 $ 0.63 $ 0.48 2016 Interest income $ 6,346 $ 6,289 $ 6,215 $ 6,244 Interest expense 500 456 414 393 Net interest income 5,846 5,833 5,801 5,851 Provision for loan losses 75 150 200 220 Net interest income after provision for loan losses 5,771 5,683 5,601 5,631 Noninterest income 1,368 1,615 1,750 1,436 Noninterest expenses 4,990 4,844 4,924 4,697 Income before income taxes 2,149 2,454 2,427 2,370 Income tax expense 564 667 666 626 Net income 1,585 1,787 1,761 1,744 Less: net income attributable to noncontrolling interest in subsidiary 3 4 3 3 Net income attributable to First Capital, Inc. $ 1,582 $ 1,783 $ 1,758 $ 1,741 Earnings per common share attributable to First Capital, Inc.: Basic $ 0.47 $ 0.53 $ 0.53 $ 0.52 Diluted $ 0.47 $ 0.53 $ 0.53 $ 0.52 First Second Third Fourth Quarter Quarter Quarter Quarter 2015 (In thousands, except per share data) Interest income $ 4,496 $ 4,555 $ 4,553 $ 5,109 Interest expense 243 239 220 302 Net interest income 4,253 4,316 4,333 4,807 Provision for loan losses - 50 - - Net interest income after provision for loan losses 4,253 4,266 4,333 4,807 Noninterest income 1,364 1,214 1,226 1,320 Noninterest expenses 3,679 3,761 3,651 4,517 Income before income taxes 1,938 1,719 1,908 1,610 Income tax expense 469 487 507 501 Net income 1,469 1,232 1,401 1,109 Less: net income attributable to noncontrolling interest in subsidiary 3 4 3 3 Net income attributable to First Capital, Inc. $ 1,466 $ 1,228 $ 1,398 $ 1,106 Earnings per common share attributable to First Capital, Inc.: Basic $ 0.53 $ 0.45 $ 0.51 $ 0.38 Diluted $ 0.53 $ 0.45 $ 0.51 $ 0.38 |
Note 1 - Summary of Significa52
Note 1 - Summary of Significant Accounting Policies (Details Textual) | 12 Months Ended | ||
Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | |
Loan Payments Delinquency Period Beyond Which Loan is Considered Past Due | 90 days | ||
Nonaccrual Loans Performance Period | 180 days | ||
Collateral Dependent Loans, Value of Significant Properties | $ 200,000 | ||
Financing Receivable, Allowance for Credit Losses, Write-downs | 936,000 | $ 918,000 | $ 1,679,000 |
Impaired Financing Receivable, Recorded Investment | 3,423,000 | 3,707,000 | |
Impaired Financing Receivable, Unpaid Principal Balance | 3,824,000 | 4,400,000 | |
Loans and Leases Receivable, Commitments, Fixed Rates | 736,000 | ||
Reclassification from AOCI to Retained Earnings for Change in Federal Tax Rate | |||
AOCI Attributable to Parent [Member] | |||
Reclassification from AOCI to Retained Earnings for Change in Federal Tax Rate | (352,000) | ||
Retained Earnings [Member] | |||
Reclassification from AOCI to Retained Earnings for Change in Federal Tax Rate | 352,000 | ||
Accounting Standards Update 2018-02 [Member] | AOCI Attributable to Parent [Member] | |||
Reclassification from AOCI to Retained Earnings for Change in Federal Tax Rate | (352,000) | ||
Accounting Standards Update 2018-02 [Member] | Retained Earnings [Member] | |||
Reclassification from AOCI to Retained Earnings for Change in Federal Tax Rate | $ 352,000 | ||
Bank Overdrafts [Member] | |||
Threshold Period Past Due for Write-off of Financing Receivable | 45 days | ||
Consumer Portfolio Segment [Member] | |||
Threshold Period Past Due for Write-off of Financing Receivable | 90 days | ||
Impaired Loans Partially Charged-off [Member] | |||
Financing Receivable, Allowance for Credit Losses, Write-downs | $ 15,000 | $ 10,000 | |
Number of Loans | 7 | 8 | |
Impaired Financing Receivable, Recorded Investment | $ 612,000 | $ 390,000 | |
Impaired Financing Receivable, Unpaid Principal Balance | 867,000 | 869,000 | |
Impaired Financing Receivable, Accumulated Charge-offs | $ 180,000 | $ 345,000 | |
Maximum [Member] | |||
Maturity of Time Deposits | 90 days |
Note 2 - Acquisition of Peopl53
Note 2 - Acquisition of Peoples Bancorp, Inc. of Bullitt County (Details Textual) - USD ($) | Dec. 04, 2015 | Nov. 27, 2015 | Dec. 31, 2015 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Jun. 04, 2015 |
Duration to Calculate Per Share Price | 20 days | ||||||
Business Combination, Acquisition Related Costs | $ 1,002,000 | ||||||
Peoples Bancorp, Inc [Member] | |||||||
Business Acquisition, Percentage of Voting Interests Acquired | 100.00% | ||||||
Business Acquisition, Equity Interest Issuable, Per Share Owned | 377.637 | 382.83 | |||||
Business Acquisition, Share Price | $ 9,607.08 | $ 9,475 | |||||
Common Stock Consideration Percent | 50.00% | ||||||
Cash Consideration Percent | 50.00% | ||||||
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 | ||||||
Shares Issued, Price Per Share | $ 25.44 | ||||||
Business Combination, Acquisition Related Costs | 1,000,000 | ||||||
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 | $ 1,100,000 | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill | $ 1,418,000 | ||||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 9 years 244 days | ||||||
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual | $ 291,000 | ||||||
Business Combination, Pro Forma Information, Expense of Acquiree since Acquisition Date, Actual | $ 94,000 | ||||||
Peoples Bancorp, Inc [Member] | Foreclosed Real Estate [Member] | |||||||
Business Combination, Contingent Consideration, Asset | $ 3,750,000 |
Note 2 - Acquisition of Peopl54
Note 2 - Acquisition of Peoples Bancorp, Inc. of Bullitt County - Summary of Assets Acquired and Liabilities Assumed (Details) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 04, 2015 |
Interest-bearing deposits with banks | $ 730,000 | $ 1,939,000 | |
Mortgage Loans in Process of Foreclosure, Amount | 588,000 | 793,000 | |
Cash value of life insurance | 7,279,000 | 7,082,000 | |
Goodwill | 6,472,000 | 6,472,000 | |
Deposit accounts | $ 664,562,000 | $ 664,650,000 | |
Peoples Bancorp, Inc [Member] | |||
Cash and cash equivalents | $ 33,458,000 | ||
Interest-bearing deposits with banks | 4,980,000 | ||
Investment securities | 131,959,000 | ||
Loans | 55,727,000 | ||
FHLB and other stock | 1,295,000 | ||
Mortgage Loans in Process of Foreclosure, Amount | 4,349,000 | ||
Premises and equipment | 3,465,000 | ||
Cash value of life insurance | 828,000 | ||
Goodwill | 1,085,000 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill | 1,418,000 | ||
Other assets | 1,886,000 | ||
Total assets acquired | 240,450,000 | ||
Deposit accounts | 209,084,000 | ||
Net deferred tax liability | 17,000 | ||
Other liabilities | 1,846,000 | ||
Total liabilities assumed | 210,947,000 | ||
Total consideration | $ 29,503,000 |
Note 2 - Acquisition of Peopl55
Note 2 - Acquisition of Peoples Bancorp, Inc. of Bullitt County - Summary of Acquired Loans (Details) - Peoples Bancorp, Inc [Member] $ in Thousands | Dec. 04, 2015USD ($) |
Fair value | $ 55,727 |
Gross contractual amounts receivable | 62,947 |
Estimated contractual cash flows not expected to be collected | 2,960 |
Subject to ASC 310-30 [Member] | |
Fair value | 1,570 |
Gross contractual amounts receivable | 2,934 |
Estimated contractual cash flows not expected to be collected | 1,033 |
Not Subject to ASC 310-30 [Member] | |
Fair value | 54,157 |
Gross contractual amounts receivable | 60,013 |
Estimated contractual cash flows not expected to be collected | $ 1,927 |
Note 2 - Acquisition of Peopl56
Note 2 - Acquisition of Peoples Bancorp, Inc. of Bullitt County - Pro Forma Combined Results of Operations (Details) - Peoples Bancorp, Inc [Member] $ in Thousands | 12 Months Ended |
Dec. 31, 2015USD ($) | |
Revenue (interest income and noninterest income) | $ 32,655 |
Net income | $ 6,284 |
Note 3 - Restriction on Cash 57
Note 3 - Restriction on Cash and Due From Banks (Details Textual) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Restricted Cash and Cash Equivalents | $ 1,700,000 | $ 1,500,000 | $ 886,000 |
Note 4 - Investment Securitie58
Note 4 - Investment Securities (Details Textual) | 1 Months Ended | 12 Months Ended | ||
Jul. 31, 2016USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($)shares | |
Available-for-sale Securities Pledged as Collateral, Amortized Cost | $ 47,700,000 | |||
Available-for-sale Securities Pledged as Collateral | $ 47,600,000 | |||
Number of Holdings of Securities with an Aggregate Book Value Greater than 10% of Stockholders' Equity | 0 | 0 | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value | $ 0 | $ 0 | ||
Available-for-Sale, Securities in Unrealized Loss Positions, Depreciation from Amortized Cost Percentage | 1.80% | |||
Available-for-sale Securities, Gross Realized Gains | $ 61,000 | 176,000 | $ 0 | |
Available-for-sale Securities, Gross Realized Losses | 7,000 | 0 | 0 | |
Available-for-sale Securities | 271,172,000 | 255,770,000 | ||
Available-for-sale Securities, Gross Realized Gain (Loss) | 54,000 | 176,000 | ||
Cost Method Investments, Number of Shares Held | shares | 131,750 | |||
Percentage of Outstanding Shares of Voting Common Stock | 9.00% | |||
Proceeds from Sale of Cost Method Equity Investment | $ 856,000 | $ 856,000 | ||
Cost-method Investments, Realized Gains | $ 145,000 | |||
Other Assets [Member] | ||||
Cost Method Investments | 711,000 | |||
Peoples Bancorp, Inc [Member] | ||||
Available-for-sale Securities | 45,400,000 | |||
Available-for-sale Securities, Gross Realized Gain (Loss) | $ 0 |
Note 4 - Investment Securitie59
Note 4 - Investment Securities - Investment Securities (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Securities available for sale, amortized cost | $ 273,878 | $ 259,382 |
Securities available for sale, gross unrealized gains | 1,275 | 913 |
Securities available for sale, gross unrealized losses | 3,981 | 4,525 |
Securities available for sale, at fair value | 271,172 | 255,770 |
Securities-held to maturity | 1 | 2 |
Securities held to maturity, gross unrealized gains | ||
Securities held to maturity, gross unrealized losses | ||
Securities held to maturity | 1 | 2 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Securities available for sale, amortized cost | 114,902 | 110,493 |
Securities available for sale, gross unrealized gains | 93 | |
Securities available for sale, gross unrealized losses | 2,253 | 2,349 |
Securities available for sale, at fair value | 112,649 | 108,237 |
Securities-held to maturity | 1 | 2 |
Securities held to maturity, gross unrealized gains | ||
Securities held to maturity, gross unrealized losses | ||
Securities held to maturity | 1 | 2 |
Agency Collateralized Mortgage Obligations [Member] | ||
Securities available for sale, amortized cost | 15,660 | 16,293 |
Securities available for sale, gross unrealized gains | 1 | 23 |
Securities available for sale, gross unrealized losses | 338 | 288 |
Securities available for sale, at fair value | 15,323 | 16,028 |
US Government Agencies Debt Securities [Member] | ||
Securities available for sale, amortized cost | 70,013 | 69,407 |
Securities available for sale, gross unrealized gains | 14 | |
Securities available for sale, gross unrealized losses | 985 | 759 |
Securities available for sale, at fair value | 69,028 | 68,662 |
Municipal Notes [Member] | ||
Securities available for sale, amortized cost | 73,303 | 63,189 |
Securities available for sale, gross unrealized gains | 1,274 | 783 |
Securities available for sale, gross unrealized losses | 405 | 1,129 |
Securities available for sale, at fair value | $ 74,172 | $ 62,843 |
Note 4 - Investment Securitie60
Note 4 - Investment Securities - Amortized Cost and Fair Value of Debt Securities by Contractual Maturity (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Securities available for sale, amortized cost, due in one year or less | $ 2,642 | |
Securities available for sale, fair value, due in one year or less | 2,636 | |
Securities held to maturity, amortized cost, due in one year or less | ||
Securities held to maturity, fair value, due in one year or less | ||
Securities available for sale, amortized cost, due after one year through five years | 77,309 | |
Securities available for sale, fair value, due after one year through five years | 76,343 | |
Securities held to maturity, amortized cost, due after one year through five years | ||
Securities held to maturity, fair value, due after one year through five years | ||
Securities available for sale, amortized cost, due after five years through ten years | 29,553 | |
Securities available for sale, fair value, due after five years through ten years | 29,611 | |
Securities held to maturity, amortized cost, due after five years through ten years | ||
Securities held to maturity, fair value, due after five years through ten years | ||
Securities available for sale, amortized cost, due after ten years | 33,812 | |
Securities available for sale, fair value, due after ten years | 34,610 | |
Securities held to maturity, amortized cost, due after ten years | ||
Securities held to maturity, fair value, due after ten years | ||
Securities available for sale, amortized cost, singal maturity | 143,316 | |
Securities available for sale, fair value, singal maturity | 143,200 | |
Securities held to maturity, amortized cost, singal maturity | ||
Securities held to maturity, fair value, singal maturity | ||
Securities available for sale, amortized cost, mortgage-backed securities and CMO | 130,562 | |
Securities available for sale, fair value, mortgage-backed securities and CMO | 127,972 | |
Securities held to maturity, amortized cost, mortgage-backed securities and CMO | 1 | |
Securities held to maturity, fair value, mortgage-backed securities and CMO | 1 | |
Securities held to maturity, amortized cost | 1 | $ 2 |
Securities held to maturity, fair value | 1 | $ 2 |
Debt Securities [Member] | ||
Securities available for sale, amortized cost | 273,878 | |
Securities available for sale, fair value | 271,172 | |
Securities held to maturity, amortized cost | 1 | |
Securities held to maturity, fair value | $ 1 |
Note 4 - Investment Securitie61
Note 4 - Investment Securities - Investment Securities Available for Sale (Details) $ in Thousands | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) |
Number of investment positions - less than twelve months | 67 | 165 |
Fair value - less than twelve months | $ 62,680 | $ 201,145 |
Gross unrealized losses - less than twelve months | $ 590 | $ 4,463 |
Number of investment positions - more than twelve months | 126 | 6 |
Fair value - more than twelve months | $ 159,337 | $ 3,033 |
Gross unrealized losses - more than twelve months | $ 3,391 | $ 62 |
Number of investment positions | 193 | 171 |
Fair value | $ 222,017 | $ 204,178 |
Gross unrealized losses | $ 3,981 | $ 4,525 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Number of investment positions - less than twelve months | 37 | 78 |
Fair value - less than twelve months | $ 37,570 | $ 101,838 |
Gross unrealized losses - less than twelve months | $ 400 | $ 2,336 |
Number of investment positions - more than twelve months | 60 | 1 |
Fair value - more than twelve months | $ 74,960 | $ 531 |
Gross unrealized losses - more than twelve months | $ 1,853 | $ 13 |
Agency Collateralized Mortgage Obligations [Member] | ||
Number of investment positions - less than twelve months | 6 | 13 |
Fair value - less than twelve months | $ 3,036 | $ 11,767 |
Gross unrealized losses - less than twelve months | $ 38 | $ 239 |
Number of investment positions - more than twelve months | 18 | 5 |
Fair value - more than twelve months | $ 11,801 | $ 2,502 |
Gross unrealized losses - more than twelve months | $ 300 | $ 49 |
US Government Agencies Debt Securities [Member] | ||
Number of investment positions - less than twelve months | 4 | 20 |
Fair value - less than twelve months | $ 11,119 | $ 59,126 |
Gross unrealized losses - less than twelve months | $ 69 | $ 759 |
Number of investment positions - more than twelve months | 19 | |
Fair value - more than twelve months | $ 57,909 | |
Gross unrealized losses - more than twelve months | $ 916 | |
Municipal Notes [Member] | ||
Number of investment positions - less than twelve months | 20 | 54 |
Fair value - less than twelve months | $ 10,955 | $ 28,414 |
Gross unrealized losses - less than twelve months | $ 83 | $ 1,129 |
Number of investment positions - more than twelve months | 29 | |
Fair value - more than twelve months | $ 14,667 | |
Gross unrealized losses - more than twelve months | $ 322 |
Note 5 - Loans and Allowance 62
Note 5 - Loans and Allowance for Loan Losses (Details Textual) | 12 Months Ended | ||
Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | |
Unamortized Loan Commitment and Origination Fees and Unamortized Discounts or Premiums | $ 1,041,000 | $ 837,000 | |
Loans and Leases Receivable, Gross | 414,617,000 | 385,764,000 | |
Off-balance-sheet Commitments to Related Parties | $ 2,800,000 | $ 2,400,000 | |
Financing Receivable, Allowance for Credit Losses, Loss Factor Increase | 0.33% | ||
Financing Receivable, Allowance for Credit Losses, Loss Factor | 20.00% | ||
Financing Receivable, Allowance for Credit Losses Risk Factor | 1.18 | 1.18 | |
Impaired Financing Receivable, Interest Income, Cash Basis Method | $ 0 | $ 0 | $ 0 |
Loans and Leases Receivable, Impaired, Commitment to Lend | 0 | $ 0 | |
Financing Receivable, Modifications, Number of Contracts | 0 | 0 | |
Troubled Debt Restructuring, Principal Charge-offs | $ 0 | $ 0 | $ 0 |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 0 | 0 | 2 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 187,000 | ||
Financial Receivable, Trouble Debt Restructure, Defaulted, Provisions Loan Losses or Net Charge-offs | $ 0 | $ 0 | 0 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 625,000 | 754,000 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Allowance for Loan Losses | 2,000 | 0 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Provision for Loan Losses | 2,000 | ||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Allowance for Loan Losses, Decreases | 0 | $ 0 | |
Qualitative Factor Past Due Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses, Effect of Change in Method | $ 2,100,000 | $ 1,800,000 | |
Financing Receivable, Allowance for Credit Losses Risk Factor | 1.2 | 1.2 | |
Qualitative Factor Economic Condition [Member] | |||
Financing Receivable, Allowance for Credit Losses Risk Factor | 1.2 | 1.2 | |
Qualitative Factor Other Internal and External Factors [Member] | |||
Financing Receivable, Allowance for Credit Losses Risk Factor | 1.3 | 1.3 | |
Overall Qualitative Factor [Member] | |||
Financing Receivable, Allowance for Credit Losses Risk Factor | 1.18 | 1.18 | |
Allowance for Loan and Lease Losses, Period Increase (Decrease) | $ 536,000 | $ 501,000 | |
Residential Mortgage Segment [Member] | |||
Loans and Leases Receivable, Gross | 3,200,000 | 3,700,000 | |
Amount of Loans Serviced for Others | 117,000 | 126,000 | |
Classified Loans [Member] | |||
Allowance for Loan and Lease Losses, Period Increase (Decrease) | $ 506,000 | $ 559,000 | |
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | |||
Loan to Value Ratio | 90.00% | 90.00% | |
Loans and Leases Receivable, Gross | $ 136,960,000 | $ 138,377,000 | |
Financing Receivable, Modifications, Number of Contracts | 1 | ||
Financing Receivable, Modifications, Pre-Modification Recorded Investment | $ 65,000 | ||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 65,000 | ||
Peoples Bancorp, Inc [Member] | |||
Unamortized Loan Commitment and Origination Fees and Unamortized Discounts or Premiums | $ 87,000 | $ 137,000 |
Note 5 - Loans and Allowance 63
Note 5 - Loans and Allowance for Loan Losses - Loans (Details) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Loans | $ 437,231,000 | $ 402,740,000 | ||
Less undisbursed portion of loans in process | (25,020,000) | (19,037,000) | ||
Principal loan balance | 412,211,000 | 383,703,000 | ||
Deferred loan origination fees and costs, net | 1,041,000 | 837,000 | ||
Allowance for loan losses | (3,634,000) | (3,386,000) | $ (3,415,000) | $ (4,846,000) |
Loans, net | 409,618,000 | 381,154,000 | ||
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | ||||
Loans | 136,399,000 | 137,842,000 | ||
Allowance for loan losses | (219,000) | (380,000) | (527,000) | (609,000) |
Real Estate Mortgage Portfolio Segment [Member] | Land Loan [Member] | ||||
Loans | 18,198,000 | 13,895,000 | ||
Principal loan balance | 18,198,000 | 13,895,000 | ||
Deferred loan origination fees and costs, net | 17,000 | 14,000 | ||
Allowance for loan losses | (133,000) | (56,000) | (157,000) | (201,000) |
Real Estate Mortgage Portfolio Segment [Member] | Construction Loans [Member] | ||||
Loans | 28,854,000 | 29,561,000 | ||
Principal loan balance | 20,995,000 | 19,445,000 | ||
Deferred loan origination fees and costs, net | (10,000) | |||
Allowance for loan losses | (245,000) | (80,000) | (47,000) | (60,000) |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | ||||
Loans | 100,133,000 | 96,462,000 | ||
Principal loan balance | 100,133,000 | 96,462,000 | ||
Deferred loan origination fees and costs, net | (42,000) | (42,000) | ||
Allowance for loan losses | (1,622,000) | (1,670,000) | (1,541,000) | (1,501,000) |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Real Estate Construction [Member] | ||||
Loans | 17,161 | 8,921 | ||
Commercial Portfolio Segment [Member] | ||||
Loans | 34,114,000 | 24,056,000 | ||
Principal loan balance | 34,114,000 | 24,056,000 | ||
Deferred loan origination fees and costs, net | 2,000 | 3,000 | ||
Allowance for loan losses | (291,000) | (198,000) | (261,000) | (1,480,000) |
Consumer Portfolio Segment [Member] | Home Equity and Second Mortgage [Member] | ||||
Loans | 49,802,000 | 42,908,000 | ||
Principal loan balance | 49,802,000 | 42,908,000 | ||
Deferred loan origination fees and costs, net | 987,000 | 782,000 | ||
Allowance for loan losses | (710,000) | (683,000) | (626,000) | (720,000) |
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | ||||
Loans | 38,361,000 | 34,279,000 | ||
Consumer Portfolio Segment [Member] | Loans Secured by Deposits [Member] | ||||
Loans | 1,751,000 | 1,879,000 | ||
Consumer Portfolio Segment [Member] | Unsecured Loan [Member] | ||||
Loans | 3,744,000 | 3,912,000 | ||
Consumer Portfolio Segment [Member] | Other Consumer Loan [Member] | ||||
Loans | 8,714,000 | 9,025,000 | ||
Principal loan balance | 52,570,000 | 49,095,000 | ||
Deferred loan origination fees and costs, net | ||||
Allowance for loan losses | $ (414,000) | $ (319,000) | $ (256,000) | $ (275,000) |
Note 5 - Loans and Allowance 64
Note 5 - Loans and Allowance for Loan Losses - Related Party Loans (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Beginning balance | $ 7,844 | $ 8,175 |
Adjustments due to officer and director changes | (93) | (900) |
New loans | 1,303 | 2,897 |
Payments | (1,415) | (2,328) |
Ending balance | $ 7,639 | $ 7,844 |
Note 5 - Loans and Allowance 65
Note 5 - Loans and Allowance for Loan Losses - Recorded Investments in Loans (Details) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Principal loan balance | $ 412,211,000 | $ 383,703,000 |
Accrued interest receivable | 1,365,000 | 1,224,000 |
Net deferred loan origination fees and costs | 1,041,000 | 837,000 |
Recorded investment in loans | 414,617,000 | 385,764,000 |
Real Estate Mortgage Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Principal loan balance | 136,399,000 | 137,842,000 |
Accrued interest receivable | 474,000 | 455,000 |
Net deferred loan origination fees and costs | 87,000 | 80,000 |
Recorded investment in loans | 136,960,000 | 138,377,000 |
Real Estate Mortgage Portfolio Segment [Member] | Land Loan [Member] | ||
Principal loan balance | 18,198,000 | 13,895,000 |
Accrued interest receivable | 94,000 | 42,000 |
Net deferred loan origination fees and costs | 17,000 | 14,000 |
Recorded investment in loans | 18,309,000 | 13,951,000 |
Real Estate Mortgage Portfolio Segment [Member] | Construction Loans [Member] | ||
Principal loan balance | 20,995,000 | 19,445,000 |
Accrued interest receivable | 49,000 | 44,000 |
Net deferred loan origination fees and costs | (10,000) | |
Recorded investment in loans | 21,034,000 | 19,489,000 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | ||
Principal loan balance | 100,133,000 | 96,462,000 |
Accrued interest receivable | 249,000 | 249,000 |
Net deferred loan origination fees and costs | (42,000) | (42,000) |
Recorded investment in loans | 100,340,000 | 96,669,000 |
Commercial Portfolio Segment [Member] | ||
Principal loan balance | 34,114,000 | 24,056,000 |
Accrued interest receivable | 87,000 | 67,000 |
Net deferred loan origination fees and costs | 2,000 | 3,000 |
Recorded investment in loans | 34,203,000 | 24,126,000 |
Consumer Portfolio Segment [Member] | Home Equity and Second Mortgage [Member] | ||
Principal loan balance | 49,802,000 | 42,908,000 |
Accrued interest receivable | 189,000 | 141,000 |
Net deferred loan origination fees and costs | 987,000 | 782,000 |
Recorded investment in loans | 50,978,000 | 43,831,000 |
Consumer Portfolio Segment [Member] | Other Consumer Loan [Member] | ||
Principal loan balance | 52,570,000 | 49,095,000 |
Accrued interest receivable | 223,000 | 226,000 |
Net deferred loan origination fees and costs | ||
Recorded investment in loans | $ 52,793,000 | $ 49,321,000 |
Note 5 - Loans and Allowance 66
Note 5 - Loans and Allowance for Loan Losses - Allowance for Loan Losses (Details) - USD ($) | 3 Months Ended | 12 Months Ended | |||||||||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2017 | Dec. 31, 2016 | |
Beginning balance | $ 3,386,000 | $ 3,415,000 | $ 4,846,000 | $ 3,386,000 | $ 3,415,000 | $ 4,846,000 | |||||||||||
Provision for loan losses | $ 298,000 | $ 150,000 | $ 256,000 | 211,000 | $ 220,000 | $ 200,000 | $ 150,000 | 75,000 | $ 50,000 | 915,000 | 645,000 | 50,000 | |||||
Charge-offs | (936,000) | (918,000) | (1,679,000) | ||||||||||||||
Recoveries | 269,000 | 244,000 | 198,000 | ||||||||||||||
Ending balance | 3,634,000 | 3,386,000 | 3,415,000 | 3,634,000 | 3,386,000 | 3,415,000 | |||||||||||
Individually evaluated for impairment | $ 52,000 | $ 85,000 | |||||||||||||||
Collectively evaluated for impairment | 3,580,000 | 3,301,000 | |||||||||||||||
Allowance for loan losses | 3,634,000 | 3,386,000 | 3,386,000 | 3,415,000 | 3,415,000 | 4,846,000 | 3,634,000 | 3,386,000 | 3,415,000 | 3,634,000 | 3,386,000 | ||||||
Individually evaluated for impairment | 3,423,000 | 3,707,000 | |||||||||||||||
Collectively evaluated for impairment | 410,796,000 | 381,427,000 | |||||||||||||||
Loans | 414,617,000 | 385,764,000 | |||||||||||||||
Receivables Acquired with Deteriorated Credit Quality [Member] | |||||||||||||||||
Beginning balance | |||||||||||||||||
Ending balance | 2,000 | 2,000 | |||||||||||||||
Allowance for loan losses | 2,000 | 2,000 | 2,000 | ||||||||||||||
Loans | 398,000 | 630,000 | |||||||||||||||
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | |||||||||||||||||
Beginning balance | 380,000 | 527,000 | 609,000 | 380,000 | 527,000 | 609,000 | |||||||||||
Provision for loan losses | (120,000) | (87,000) | 35,000 | ||||||||||||||
Charge-offs | (74,000) | (118,000) | (128,000) | ||||||||||||||
Recoveries | 33,000 | 58,000 | 11,000 | ||||||||||||||
Ending balance | 219,000 | 380,000 | 527,000 | 219,000 | 380,000 | 527,000 | |||||||||||
Individually evaluated for impairment | 35,000 | 23,000 | |||||||||||||||
Collectively evaluated for impairment | 182,000 | 357,000 | |||||||||||||||
Allowance for loan losses | 219,000 | 380,000 | 380,000 | 527,000 | 527,000 | 609,000 | 380,000 | 380,000 | 527,000 | 219,000 | 380,000 | ||||||
Individually evaluated for impairment | 2,907,000 | 2,083,000 | |||||||||||||||
Collectively evaluated for impairment | 133,703,000 | 135,904,000 | |||||||||||||||
Loans | 136,960,000 | 138,377,000 | |||||||||||||||
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||||||||||||||||
Beginning balance | |||||||||||||||||
Ending balance | 2,000 | 2,000 | |||||||||||||||
Allowance for loan losses | 2,000 | 2,000 | 2,000 | ||||||||||||||
Loans | 350,000 | 390,000 | |||||||||||||||
Real Estate Mortgage Portfolio Segment [Member] | Land Loan [Member] | |||||||||||||||||
Beginning balance | 56,000 | 157,000 | 201,000 | 56,000 | 157,000 | 201,000 | |||||||||||
Provision for loan losses | 77,000 | (92,000) | (44,000) | ||||||||||||||
Charge-offs | (9,000) | ||||||||||||||||
Recoveries | |||||||||||||||||
Ending balance | 133,000 | 56,000 | 157,000 | 133,000 | 56,000 | 157,000 | |||||||||||
Individually evaluated for impairment | |||||||||||||||||
Collectively evaluated for impairment | 133,000 | 56,000 | |||||||||||||||
Allowance for loan losses | 133,000 | 56,000 | 56,000 | 157,000 | 157,000 | 201,000 | 56,000 | 56,000 | 157,000 | 133,000 | 56,000 | ||||||
Individually evaluated for impairment | |||||||||||||||||
Collectively evaluated for impairment | 18,309,000 | 13,951,000 | |||||||||||||||
Loans | 18,309,000 | 13,951,000 | |||||||||||||||
Real Estate Mortgage Portfolio Segment [Member] | Land Loan [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||||||||||||||||
Beginning balance | |||||||||||||||||
Ending balance | |||||||||||||||||
Allowance for loan losses | |||||||||||||||||
Loans | |||||||||||||||||
Real Estate Mortgage Portfolio Segment [Member] | Construction Loans [Member] | |||||||||||||||||
Beginning balance | 80,000 | 47,000 | 60,000 | 80,000 | 47,000 | 60,000 | |||||||||||
Provision for loan losses | 165,000 | 33,000 | (13,000) | ||||||||||||||
Charge-offs | |||||||||||||||||
Recoveries | |||||||||||||||||
Ending balance | 245,000 | 80,000 | 47,000 | 245,000 | 80,000 | 47,000 | |||||||||||
Individually evaluated for impairment | |||||||||||||||||
Collectively evaluated for impairment | 245,000 | 80,000 | |||||||||||||||
Allowance for loan losses | 245,000 | 80,000 | 80,000 | 47,000 | 47,000 | 60,000 | 80,000 | 80,000 | 47,000 | 245,000 | 80,000 | ||||||
Individually evaluated for impairment | |||||||||||||||||
Collectively evaluated for impairment | 21,034,000 | 19,489,000 | |||||||||||||||
Loans | 21,034,000 | 19,489,000 | |||||||||||||||
Real Estate Mortgage Portfolio Segment [Member] | Construction Loans [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||||||||||||||||
Beginning balance | |||||||||||||||||
Ending balance | |||||||||||||||||
Allowance for loan losses | |||||||||||||||||
Loans | |||||||||||||||||
Real Estate Mortgage Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | |||||||||||||||||
Beginning balance | 1,670,000 | 1,541,000 | 1,501,000 | 1,670,000 | 1,541,000 | 1,501,000 | |||||||||||
Provision for loan losses | (124,000) | 157,000 | 6,000 | ||||||||||||||
Charge-offs | (3,000) | (82,000) | |||||||||||||||
Recoveries | 79,000 | 54,000 | 34,000 | ||||||||||||||
Ending balance | 1,622,000 | 1,670,000 | 1,541,000 | 1,622,000 | 1,670,000 | 1,541,000 | |||||||||||
Individually evaluated for impairment | |||||||||||||||||
Collectively evaluated for impairment | 1,622,000 | 1,670,000 | |||||||||||||||
Allowance for loan losses | 1,622,000 | 1,670,000 | 1,670,000 | 1,541,000 | 1,541,000 | 1,501,000 | 1,670,000 | 1,670,000 | 1,541,000 | 1,622,000 | 1,670,000 | ||||||
Individually evaluated for impairment | 401,000 | 1,217,000 | |||||||||||||||
Collectively evaluated for impairment | 99,891,000 | 95,212,000 | |||||||||||||||
Loans | 100,340,000 | 96,669,000 | |||||||||||||||
Real Estate Mortgage Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||||||||||||||||
Beginning balance | |||||||||||||||||
Ending balance | |||||||||||||||||
Allowance for loan losses | |||||||||||||||||
Loans | 48,000 | 240,000 | |||||||||||||||
Commercial Portfolio Segment [Member] | |||||||||||||||||
Beginning balance | 198,000 | 261,000 | 1,480,000 | 198,000 | 261,000 | 1,480,000 | |||||||||||
Provision for loan losses | 226,000 | 187,000 | (23,000) | ||||||||||||||
Charge-offs | (140,000) | (264,000) | (1,205,000) | ||||||||||||||
Recoveries | 7,000 | 14,000 | 9,000 | ||||||||||||||
Ending balance | 291,000 | 198,000 | 261,000 | 291,000 | 198,000 | 261,000 | |||||||||||
Individually evaluated for impairment | 4,000 | 43,000 | |||||||||||||||
Collectively evaluated for impairment | 287,000 | 155,000 | |||||||||||||||
Allowance for loan losses | 291,000 | 198,000 | 198,000 | 261,000 | 261,000 | 1,480,000 | 198,000 | 198,000 | 261,000 | 291,000 | 198,000 | ||||||
Individually evaluated for impairment | 42,000 | 143,000 | |||||||||||||||
Collectively evaluated for impairment | 34,161,000 | 23,983,000 | |||||||||||||||
Loans | 34,203,000 | 24,126,000 | |||||||||||||||
Commercial Portfolio Segment [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||||||||||||||||
Beginning balance | |||||||||||||||||
Ending balance | |||||||||||||||||
Allowance for loan losses | |||||||||||||||||
Loans | |||||||||||||||||
Consumer Portfolio Segment [Member] | Home Equity and Second Mortgage [Member] | |||||||||||||||||
Beginning balance | 683,000 | 626,000 | 720,000 | 683,000 | 626,000 | 720,000 | |||||||||||
Provision for loan losses | 28,000 | 79,000 | (49,000) | ||||||||||||||
Charge-offs | (6,000) | (36,000) | (78,000) | ||||||||||||||
Recoveries | 5,000 | 14,000 | 33,000 | ||||||||||||||
Ending balance | 710,000 | 683,000 | 626,000 | 710,000 | 683,000 | 626,000 | |||||||||||
Individually evaluated for impairment | 13,000 | 13,000 | |||||||||||||||
Collectively evaluated for impairment | 697,000 | 670,000 | |||||||||||||||
Allowance for loan losses | 710,000 | 683,000 | 683,000 | 626,000 | 626,000 | 720,000 | 683,000 | 683,000 | 626,000 | 710,000 | 683,000 | ||||||
Individually evaluated for impairment | 73,000 | 244,000 | |||||||||||||||
Collectively evaluated for impairment | 50,905,000 | 43,587,000 | |||||||||||||||
Loans | 50,978,000 | 43,831,000 | |||||||||||||||
Consumer Portfolio Segment [Member] | Home Equity and Second Mortgage [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||||||||||||||||
Beginning balance | |||||||||||||||||
Ending balance | |||||||||||||||||
Allowance for loan losses | |||||||||||||||||
Loans | |||||||||||||||||
Consumer Portfolio Segment [Member] | Other Consumer Loan [Member] | |||||||||||||||||
Beginning balance | 319,000 | 256,000 | 275,000 | 319,000 | 256,000 | 275,000 | |||||||||||
Provision for loan losses | 663,000 | 368,000 | 138,000 | ||||||||||||||
Charge-offs | (713,000) | (409,000) | (268,000) | ||||||||||||||
Recoveries | 145,000 | 104,000 | 111,000 | ||||||||||||||
Ending balance | 414,000 | 319,000 | 256,000 | 414,000 | 319,000 | 256,000 | |||||||||||
Individually evaluated for impairment | 6,000 | ||||||||||||||||
Collectively evaluated for impairment | 414,000 | 313,000 | |||||||||||||||
Allowance for loan losses | 414,000 | 319,000 | 319,000 | $ 256,000 | $ 256,000 | $ 275,000 | 319,000 | 319,000 | $ 256,000 | 414,000 | 319,000 | ||||||
Individually evaluated for impairment | 20,000 | ||||||||||||||||
Collectively evaluated for impairment | 52,793,000 | 49,301,000 | |||||||||||||||
Loans | 52,793,000 | 49,321,000 | |||||||||||||||
Consumer Portfolio Segment [Member] | Other Consumer Loan [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||||||||||||||||
Beginning balance | |||||||||||||||||
Ending balance | |||||||||||||||||
Allowance for loan losses | |||||||||||||||||
Loans |
Note 5 - Loans and Allowance 67
Note 5 - Loans and Allowance for Loan Losses - Impaired Loans (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Recorded investment with no allowance | $ 3,168 | $ 3,394 | |
Unpaid principal balance with no allowance | 3,563 | 4,081 | |
Average recorded investment with no allowance | 3,378 | 5,026 | $ 3,551 |
Interest income recognized with no allowance | 48 | 92 | 97 |
Related allowance with no allowance | |||
Recorded investment with allowance | 255 | 313 | |
Unpaid principal balance with allowance | 261 | 319 | |
Related allowance | 52 | 85 | |
Average recorded investment with allowance | 214 | 350 | 703 |
Interest income recognized with allowance | |||
Recorded investment | 3,423 | 3,707 | |
Unpaid principle balance | 3,824 | 4,400 | |
Average recorded investment | 3,592 | 5,376 | 4,254 |
Interest income recognized | 48 | 92 | 97 |
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | |||
Recorded investment with no allowance | 2,695 | 1,871 | |
Unpaid principal balance with no allowance | 2,948 | 2,223 | |
Average recorded investment with no allowance | 2,437 | 1,904 | 1,356 |
Interest income recognized with no allowance | 28 | 26 | 19 |
Recorded investment with allowance | 212 | 212 | |
Unpaid principal balance with allowance | 218 | 217 | |
Related allowance | 35 | 23 | |
Average recorded investment with allowance | 140 | 148 | 190 |
Interest income recognized with allowance | |||
Recorded investment | 2,907 | 2,083 | |
Unpaid principle balance | 3,166 | 2,440 | |
Average recorded investment | 2,577 | 2,052 | 1,546 |
Interest income recognized | 28 | 26 | 19 |
Real Estate Mortgage Portfolio Segment [Member] | Land Loan [Member] | |||
Recorded investment with no allowance | |||
Unpaid principal balance with no allowance | |||
Average recorded investment with no allowance | 5 | 20 | |
Interest income recognized with no allowance | 2 | ||
Recorded investment with allowance | |||
Unpaid principal balance with allowance | |||
Related allowance | |||
Average recorded investment with allowance | |||
Interest income recognized with allowance | |||
Recorded investment | |||
Unpaid principle balance | |||
Average recorded investment | 5 | 20 | |
Interest income recognized | 2 | ||
Real Estate Mortgage Portfolio Segment [Member] | Construction Loans [Member] | |||
Recorded investment with no allowance | |||
Unpaid principal balance with no allowance | |||
Average recorded investment with no allowance | |||
Interest income recognized with no allowance | 3 | ||
Recorded investment with allowance | |||
Unpaid principal balance with allowance | |||
Related allowance | |||
Average recorded investment with allowance | |||
Interest income recognized with allowance | |||
Recorded investment | |||
Unpaid principle balance | |||
Average recorded investment | |||
Interest income recognized | 3 | ||
Real Estate Mortgage Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | |||
Recorded investment with no allowance | 401 | 1,217 | |
Unpaid principal balance with no allowance | 535 | 1,540 | |
Average recorded investment with no allowance | 686 | 2,959 | 2,092 |
Interest income recognized with no allowance | 16 | 60 | 76 |
Recorded investment with allowance | |||
Unpaid principal balance with allowance | |||
Related allowance | |||
Average recorded investment with allowance | 99 | 78 | |
Interest income recognized with allowance | |||
Recorded investment | 401 | 1,217 | |
Unpaid principle balance | 535 | 1,540 | |
Average recorded investment | 686 | 3,058 | 2,170 |
Interest income recognized | 16 | 60 | 76 |
Commercial Portfolio Segment [Member] | |||
Recorded investment with no allowance | 12 | 75 | |
Unpaid principal balance with no allowance | 12 | 81 | |
Average recorded investment with no allowance | 57 | 66 | 19 |
Interest income recognized with no allowance | 1 | ||
Recorded investment with allowance | 30 | 68 | |
Unpaid principal balance with allowance | 30 | 68 | |
Related allowance | 4 | 43 | |
Average recorded investment with allowance | 40 | 54 | 355 |
Interest income recognized with allowance | |||
Recorded investment | 42 | 143 | |
Unpaid principle balance | 42 | 149 | |
Average recorded investment | 97 | 120 | 374 |
Interest income recognized | 1 | ||
Consumer Portfolio Segment [Member] | Home Equity and Second Mortgage [Member] | |||
Recorded investment with no allowance | 60 | 231 | |
Unpaid principal balance with no allowance | 68 | 237 | |
Average recorded investment with no allowance | 194 | 88 | 64 |
Interest income recognized with no allowance | 1 | 2 | 2 |
Recorded investment with allowance | 13 | 13 | |
Unpaid principal balance with allowance | 13 | 14 | |
Related allowance | 13 | 13 | |
Average recorded investment with allowance | 20 | 27 | 80 |
Interest income recognized with allowance | |||
Recorded investment | 73 | 244 | |
Unpaid principle balance | 81 | 251 | |
Average recorded investment | 214 | 115 | 144 |
Interest income recognized | 1 | 2 | 2 |
Consumer Portfolio Segment [Member] | Other Consumer Loan [Member] | |||
Recorded investment with no allowance | |||
Unpaid principal balance with no allowance | |||
Average recorded investment with no allowance | 4 | 4 | |
Interest income recognized with no allowance | 1 | ||
Recorded investment with allowance | 20 | ||
Unpaid principal balance with allowance | 20 | ||
Related allowance | 6 | ||
Average recorded investment with allowance | 14 | 22 | |
Interest income recognized with allowance | |||
Recorded investment | 20 | ||
Unpaid principle balance | 20 | ||
Average recorded investment | 18 | 26 | |
Interest income recognized | $ 1 |
Note 5 - Loans and Allowance 68
Note 5 - Loans and Allowance for Loan Losses - Recorded Investment in Nonperforming Loans (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Total Nonperforming Loans | $ 6,194 | $ 5,282 |
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | ||
Total Nonperforming Loans | 4,205 | 4,172 |
Real Estate Mortgage Portfolio Segment [Member] | Land Loan [Member] | ||
Total Nonperforming Loans | 281 | 52 |
Real Estate Mortgage Portfolio Segment [Member] | Construction Loans [Member] | ||
Total Nonperforming Loans | ||
Real Estate Mortgage Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | ||
Total Nonperforming Loans | 518 | 27 |
Commercial Portfolio Segment [Member] | ||
Total Nonperforming Loans | 197 | 238 |
Consumer Portfolio Segment [Member] | Home Equity and Second Mortgage [Member] | ||
Total Nonperforming Loans | 508 | 365 |
Consumer Portfolio Segment [Member] | Other Consumer Loan [Member] | ||
Total Nonperforming Loans | 485 | 428 |
Nonperforming Financial Instruments [Member] | ||
Nonaccrual Loans | 2,536 | 2,946 |
Loans 90+ Days Past Due Still Accruing | 291 | 78 |
Total Nonperforming Loans | 2,827 | 3,024 |
Nonperforming Financial Instruments [Member] | Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | ||
Nonaccrual Loans | 2,298 | 1,634 |
Loans 90+ Days Past Due Still Accruing | 109 | 55 |
Total Nonperforming Loans | 2,407 | 1,689 |
Nonperforming Financial Instruments [Member] | Real Estate Mortgage Portfolio Segment [Member] | Land Loan [Member] | ||
Nonaccrual Loans | ||
Loans 90+ Days Past Due Still Accruing | 95 | |
Total Nonperforming Loans | 95 | |
Nonperforming Financial Instruments [Member] | Real Estate Mortgage Portfolio Segment [Member] | Construction Loans [Member] | ||
Nonaccrual Loans | ||
Loans 90+ Days Past Due Still Accruing | ||
Total Nonperforming Loans | ||
Nonperforming Financial Instruments [Member] | Real Estate Mortgage Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | ||
Nonaccrual Loans | 139 | 924 |
Loans 90+ Days Past Due Still Accruing | ||
Total Nonperforming Loans | 139 | 924 |
Nonperforming Financial Instruments [Member] | Commercial Portfolio Segment [Member] | ||
Nonaccrual Loans | 42 | 142 |
Loans 90+ Days Past Due Still Accruing | 59 | |
Total Nonperforming Loans | 101 | 142 |
Nonperforming Financial Instruments [Member] | Consumer Portfolio Segment [Member] | Home Equity and Second Mortgage [Member] | ||
Nonaccrual Loans | 57 | 226 |
Loans 90+ Days Past Due Still Accruing | ||
Total Nonperforming Loans | 57 | 226 |
Nonperforming Financial Instruments [Member] | Consumer Portfolio Segment [Member] | Other Consumer Loan [Member] | ||
Nonaccrual Loans | 20 | |
Loans 90+ Days Past Due Still Accruing | 28 | 23 |
Total Nonperforming Loans | $ 28 | $ 43 |
Note 5 - Loans and Allowance 69
Note 5 - Loans and Allowance for Loan Losses - Aging of Recorded Investment in Loans (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Past Due | $ 6,194 | $ 5,282 |
Current | 408,025 | 379,852 |
Loans | 414,617 | 385,764 |
Receivables Acquired with Deteriorated Credit Quality [Member] | ||
Loans | 398 | 630 |
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | ||
Past Due | 4,205 | 4,172 |
Current | 132,405 | 133,815 |
Loans | 136,960 | 138,377 |
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||
Loans | 350 | 390 |
Real Estate Mortgage Portfolio Segment [Member] | Land Loan [Member] | ||
Past Due | 281 | 52 |
Current | 18,028 | 13,899 |
Loans | 18,309 | 13,951 |
Real Estate Mortgage Portfolio Segment [Member] | Land Loan [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||
Loans | ||
Real Estate Mortgage Portfolio Segment [Member] | Construction Loans [Member] | ||
Past Due | ||
Current | 21,034 | 19,489 |
Loans | 21,034 | 19,489 |
Real Estate Mortgage Portfolio Segment [Member] | Construction Loans [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||
Loans | ||
Real Estate Mortgage Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | ||
Past Due | 518 | 27 |
Current | 99,774 | 96,402 |
Loans | 100,340 | 96,669 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||
Loans | 48 | 240 |
Commercial Portfolio Segment [Member] | ||
Past Due | 197 | 238 |
Current | 34,006 | 23,888 |
Loans | 34,203 | 24,126 |
Commercial Portfolio Segment [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||
Loans | ||
Consumer Portfolio Segment [Member] | Home Equity and Second Mortgage [Member] | ||
Past Due | 508 | 365 |
Current | 50,470 | 43,466 |
Loans | 50,978 | 43,831 |
Consumer Portfolio Segment [Member] | Home Equity and Second Mortgage [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||
Loans | ||
Consumer Portfolio Segment [Member] | Other Consumer Loan [Member] | ||
Past Due | 485 | 428 |
Current | 52,308 | 48,893 |
Loans | 52,793 | 49,321 |
Consumer Portfolio Segment [Member] | Other Consumer Loan [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||
Loans | ||
Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Past Due | 4,111 | 3,270 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | ||
Past Due | 2,612 | 2,444 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Real Estate Mortgage Portfolio Segment [Member] | Land Loan [Member] | ||
Past Due | 186 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Real Estate Mortgage Portfolio Segment [Member] | Construction Loans [Member] | ||
Past Due | ||
Financing Receivables, 30 to 59 Days Past Due [Member] | Real Estate Mortgage Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | ||
Past Due | 379 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial Portfolio Segment [Member] | ||
Past Due | 46 | 155 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Home Equity and Second Mortgage [Member] | ||
Past Due | 468 | 352 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Other Consumer Loan [Member] | ||
Past Due | 420 | 319 |
Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Past Due | 451 | 825 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | ||
Past Due | 338 | 707 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Real Estate Mortgage Portfolio Segment [Member] | Land Loan [Member] | ||
Past Due | 52 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Real Estate Mortgage Portfolio Segment [Member] | Construction Loans [Member] | ||
Past Due | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | Real Estate Mortgage Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | ||
Past Due | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial Portfolio Segment [Member] | ||
Past Due | 49 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Home Equity and Second Mortgage [Member] | ||
Past Due | 27 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Other Consumer Loan [Member] | ||
Past Due | 37 | 66 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Past Due | 1,632 | 1,187 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | ||
Past Due | 1,255 | 1,021 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Real Estate Mortgage Portfolio Segment [Member] | Land Loan [Member] | ||
Past Due | 95 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Real Estate Mortgage Portfolio Segment [Member] | Construction Loans [Member] | ||
Past Due | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Real Estate Mortgage Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | ||
Past Due | 139 | 27 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial Portfolio Segment [Member] | ||
Past Due | 102 | 83 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Home Equity and Second Mortgage [Member] | ||
Past Due | 13 | 13 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Other Consumer Loan [Member] | ||
Past Due | $ 28 | $ 43 |
Note 5 - Loans and Allowance 70
Note 5 - Loans and Allowance for Loan Losses - Recorded Investment in Loans by Risk Category (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Loans | $ 414,617 | $ 385,764 |
Pass [Member] | ||
Loans | 405,806 | 372,497 |
Special Mention [Member] | ||
Loans | 3,623 | 3,087 |
Substandard [Member] | ||
Loans | 2,640 | 6,863 |
Doubtful [Member] | ||
Loans | 2,548 | 3,317 |
Unlikely to be Collected Financing Receivable [Member] | ||
Loans | ||
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | ||
Loans | 136,960 | 138,377 |
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | Pass [Member] | ||
Loans | 133,618 | 135,328 |
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | Special Mention [Member] | ||
Loans | 348 | 403 |
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | Substandard [Member] | ||
Loans | 684 | 721 |
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | Doubtful [Member] | ||
Loans | 2,310 | 1,925 |
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | Unlikely to be Collected Financing Receivable [Member] | ||
Loans | ||
Real Estate Mortgage Portfolio Segment [Member] | Land Loan [Member] | ||
Loans | 18,309 | 13,951 |
Real Estate Mortgage Portfolio Segment [Member] | Land Loan [Member] | Pass [Member] | ||
Loans | 18,003 | 13,795 |
Real Estate Mortgage Portfolio Segment [Member] | Land Loan [Member] | Special Mention [Member] | ||
Loans | 157 | 86 |
Real Estate Mortgage Portfolio Segment [Member] | Land Loan [Member] | Substandard [Member] | ||
Loans | 149 | 70 |
Real Estate Mortgage Portfolio Segment [Member] | Land Loan [Member] | Doubtful [Member] | ||
Loans | ||
Real Estate Mortgage Portfolio Segment [Member] | Land Loan [Member] | Unlikely to be Collected Financing Receivable [Member] | ||
Loans | ||
Real Estate Mortgage Portfolio Segment [Member] | Construction Loans [Member] | ||
Loans | 21,034 | 19,489 |
Real Estate Mortgage Portfolio Segment [Member] | Construction Loans [Member] | Pass [Member] | ||
Loans | 20,173 | 19,489 |
Real Estate Mortgage Portfolio Segment [Member] | Construction Loans [Member] | Special Mention [Member] | ||
Loans | 861 | |
Real Estate Mortgage Portfolio Segment [Member] | Construction Loans [Member] | Substandard [Member] | ||
Loans | ||
Real Estate Mortgage Portfolio Segment [Member] | Construction Loans [Member] | Doubtful [Member] | ||
Loans | ||
Real Estate Mortgage Portfolio Segment [Member] | Construction Loans [Member] | Unlikely to be Collected Financing Receivable [Member] | ||
Loans | ||
Real Estate Mortgage Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | ||
Loans | 100,340 | 96,669 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | Pass [Member] | ||
Loans | 97,219 | 87,782 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | Special Mention [Member] | ||
Loans | 1,362 | 1,892 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | Substandard [Member] | ||
Loans | 1,620 | 5,991 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | Doubtful [Member] | ||
Loans | 139 | 1,004 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | Unlikely to be Collected Financing Receivable [Member] | ||
Loans | ||
Commercial Portfolio Segment [Member] | ||
Loans | 34,203 | 24,126 |
Commercial Portfolio Segment [Member] | Pass [Member] | ||
Loans | 33,245 | 23,246 |
Commercial Portfolio Segment [Member] | Special Mention [Member] | ||
Loans | 734 | 661 |
Commercial Portfolio Segment [Member] | Substandard [Member] | ||
Loans | 182 | 77 |
Commercial Portfolio Segment [Member] | Doubtful [Member] | ||
Loans | 42 | 142 |
Commercial Portfolio Segment [Member] | Unlikely to be Collected Financing Receivable [Member] | ||
Loans | ||
Consumer Portfolio Segment [Member] | Home Equity and Second Mortgage [Member] | ||
Loans | 50,978 | 43,831 |
Consumer Portfolio Segment [Member] | Home Equity and Second Mortgage [Member] | Pass [Member] | ||
Loans | 50,919 | 43,601 |
Consumer Portfolio Segment [Member] | Home Equity and Second Mortgage [Member] | Special Mention [Member] | ||
Loans | ||
Consumer Portfolio Segment [Member] | Home Equity and Second Mortgage [Member] | Substandard [Member] | ||
Loans | 2 | 4 |
Consumer Portfolio Segment [Member] | Home Equity and Second Mortgage [Member] | Doubtful [Member] | ||
Loans | 57 | 226 |
Consumer Portfolio Segment [Member] | Home Equity and Second Mortgage [Member] | Unlikely to be Collected Financing Receivable [Member] | ||
Loans | ||
Consumer Portfolio Segment [Member] | Other Consumer Loan [Member] | ||
Loans | 52,793 | 49,321 |
Consumer Portfolio Segment [Member] | Other Consumer Loan [Member] | Pass [Member] | ||
Loans | 52,629 | 49,256 |
Consumer Portfolio Segment [Member] | Other Consumer Loan [Member] | Special Mention [Member] | ||
Loans | 161 | 45 |
Consumer Portfolio Segment [Member] | Other Consumer Loan [Member] | Substandard [Member] | ||
Loans | 3 | |
Consumer Portfolio Segment [Member] | Other Consumer Loan [Member] | Doubtful [Member] | ||
Loans | 20 | |
Consumer Portfolio Segment [Member] | Other Consumer Loan [Member] | Unlikely to be Collected Financing Receivable [Member] | ||
Loans |
Note 5 - Loans and Allowance 71
Note 5 - Loans and Allowance for Loan Losses - Troubled Debt Restructuring by Accrual Status (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
TDR total | $ 414,617 | $ 385,764 |
Loans | 414,617 | 385,764 |
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | ||
TDR total | 136,960 | 138,377 |
Loans | 136,960 | 138,377 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | ||
TDR total | 100,340 | 96,669 |
Loans | 100,340 | 96,669 |
Consumer Portfolio Segment [Member] | Home Equity and Second Mortgage [Member] | ||
TDR total | 50,978 | 43,831 |
Loans | 50,978 | 43,831 |
Nonperforming Financial Instruments [Member] | ||
TDR accruing | 858 | 742 |
TDR nonaccrual | 106 | 397 |
TDR total | 964 | 1,139 |
TDR related allowance for loan losses | ||
Loans | 964 | 1,139 |
Nonperforming Financial Instruments [Member] | Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | ||
TDR accruing | 487 | 433 |
TDR nonaccrual | 106 | 229 |
TDR total | 593 | 662 |
TDR related allowance for loan losses | ||
Loans | 593 | 662 |
Nonperforming Financial Instruments [Member] | Real Estate Mortgage Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | ||
TDR accruing | 356 | 291 |
TDR nonaccrual | 168 | |
TDR total | 356 | 459 |
TDR related allowance for loan losses | ||
Loans | 356 | 459 |
Nonperforming Financial Instruments [Member] | Consumer Portfolio Segment [Member] | Home Equity and Second Mortgage [Member] | ||
TDR accruing | 15 | 18 |
TDR nonaccrual | ||
TDR total | 15 | 18 |
TDR related allowance for loan losses | ||
Loans | $ 15 | $ 18 |
Note 5 - Loans and Allowance 72
Note 5 - Loans and Allowance for Loan Losses - Summary of PCI Loans (Details) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Carrying amount | $ 398,000 | $ 630,000 |
Allowance for loan losses | 2,000 | 0 |
396,000 | 630,000 | |
Residential Mortgage Segment [Member] | Residential Loan [Member] | ||
Carrying amount | 350,000 | 390,000 |
Residential Mortgage Segment [Member] | Commercial Real Estate Loan [Member] | ||
Carrying amount | $ 48,000 | $ 240,000 |
Note 5 - Loans and Allowance 73
Note 5 - Loans and Allowance for Loan Losses - Accretable Yield, or Income Expected to be Collected (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Beginning balance | $ 252 | $ 319 | |
New loans acquired | 331 | ||
Accretion to income | (55) | (75) | (12) |
Disposals of loans | (21) | (93) | |
Reclassification (to) from nonaccretable difference | 294 | 101 | |
Ending balance | $ 470 | $ 252 | $ 319 |
Note 6 - Premises and Equipme74
Note 6 - Premises and Equipment (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Depreciation | $ 1,100,000 | $ 1,000,000 | $ 744,000 |
Note 6 - Premises and Equipme75
Note 6 - Premises and Equipment - Components of Premises and Equipment (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Land and land improvements | $ 5,297 | $ 5,297 |
Leasehold improvements | 134 | 134 |
Office buildings | 13,849 | 13,136 |
Furniture, fixtures and equipment | 5,973 | 5,723 |
25,253 | 24,290 | |
Less accumulated depreciation | 10,222 | 9,449 |
Totals | $ 15,031 | $ 14,841 |
Note 7 - Foreclosed Real Esta76
Note 7 - Foreclosed Real Estate (Details Textual) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Real Estate Acquired Through Foreclosure | $ 3,971,000 | $ 4,674,000 | $ 4,890,000 | $ 78,000 |
Mortgage Loans in Process of Foreclosure, Amount | 588,000 | 793,000 | ||
Residential Real Estate, Physical Possession Obtained [Member] | ||||
Real Estate Acquired Through Foreclosure | $ 443,000 | $ 226,000 |
Note 7 - Foreclosed Real Esta77
Note 7 - Foreclosed Real Estate - Foreclosed Real Estate Activity (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Beginning balance | $ 4,674 | $ 4,890 | $ 78 |
Obtained in acquisition | 4,349 | ||
Transfers from loans to foreclosed real estate | 555 | 1,307 | 809 |
Direct write-downs | (263) | (80) | (100) |
Sales | (1,023) | (1,504) | (245) |
Capitalized expenses and other adjustments | 28 | 61 | (1) |
Ending balance | $ 3,971 | $ 4,674 | $ 4,890 |
Note 7 - Foreclosed Real Esta78
Note 7 - Foreclosed Real Estate - Net Loss on Foreclosed Real Estate (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Net (gain) loss on sales | $ (3) | $ (30) | $ 15 |
Direct write-downs | 263 | 80 | 100 |
Operating expenses, net of income | 56 | 94 | 47 |
$ 316 | $ 144 | $ 162 |
Note 8 - Goodwill and Other I79
Note 8 - Goodwill and Other Intangibles (Details Textual) - USD ($) | Dec. 04, 2015 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2003 |
Goodwill, Impairment Loss | $ 0 | $ 0 | $ 0 | ||
Finite-Lived Intangible Assets, Gross | 1,400,000 | ||||
Amortization of Intangible Assets | $ 147,000 | $ 147,000 | 12,000 | ||
Peoples Bancorp, Inc [Member] | |||||
Goodwill, Acquired During Period | $ 1,100,000 | $ 1,100,000 | |||
Hometown Bancshares Incorporated [Member] | |||||
Goodwill, Acquired During Period | $ 5,400,000 |
Note 8 - Goodwill and Other I80
Note 8 - Goodwill and Other Intangibles - Core Deposit Intangibles (Details) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Core deposit intangible acquired in Peoples acquisition | $ 1,400,000 | ||
$ 1,112,000 | $ 1,259,000 | ||
Core Deposits [Member] | |||
Core deposit intangible acquired in Peoples acquisition | 1,418,000 | 1,418,000 | |
Less accumulated amortization | 306,000 | 159,000 | |
$ 1,112,000 | $ 1,259,000 |
Note 8 - Goodwill and Other I81
Note 8 - Goodwill and Other Intangibles - Amortization for Core Deposit Intangible (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
2,018 | $ 147 | |
2,019 | 147 | |
2,020 | 147 | |
2,021 | 147 | |
2,022 | 147 | |
2023 and thereafter | 377 | |
$ 1,112 | $ 1,259 |
Note 9 - Deposits (Details Text
Note 9 - Deposits (Details Textual) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Time Deposits, at or Above FDIC Insurance Limit | $ 3.5 | $ 3.6 |
Related Party Deposit Liabilities | $ 9.2 | $ 11.9 |
Note 9 - Deposits - Scheduled M
Note 9 - Deposits - Scheduled Maturities of Time Deposits (Details) $ in Thousands | Dec. 31, 2017USD ($) |
2,018 | $ 40,621 |
2,019 | 12,382 |
2,020 | 6,861 |
2,021 | 8,799 |
2022 and thereafter | 4,856 |
Total | $ 73,519 |
Note 10 - Lines of Credit (Deta
Note 10 - Lines of Credit (Details Textual) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 04, 2015 |
The Bankers' Bank of Kentucky [Member] | |||
Line of Credit Facility, Maximum Borrowing Capacity | $ 5,000 | ||
Long-term Line of Credit | $ 0 | $ 0 | |
Stock Yards & Trust Company [Member] | Revolving Credit Facility [Member] | |||
Line of Credit Facility, Maximum Borrowing Capacity | 2,000 | 2,000 | |
Long-term Line of Credit | $ 0 | $ 0 |
Note 11 - Advances from Feder85
Note 11 - Advances from Federal Home Loan Bank (Details Textual) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Advances from Federal Home Loan Banks | $ 10,000 | $ 0 |
Federal Home Loan Bank, Advances, Activity for Year, Average Interest Rate at Period End | 1.67% | |
Residential Mortgage Segment [Member] | ||
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Collateral Pledged | $ 66,500 |
Note 12 - Lease Commitments (De
Note 12 - Lease Commitments (Details Textual) - USD ($) | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2016 | |
Operating Leases, Future Minimum Payments Due, Next Twelve Months | $ 78,000 | |||
Operating Leases, Future Minimum Payments, Due in Three Years | 64,000 | |||
Operating Leases, Future Minimum Payments, Due in Four Years | 59,000 | |||
Operating Leases, Future Minimum Payments Due | $ 279,000 | |||
Lessee, Operating Lease, Renewal Term | 1 year | |||
Operating Leases, Rent Expense | $ 98,000 | $ 89,000 | $ 30,000 | |
Operating Leases, Future Minimum Payments, Due in Two Years | $ 78,000 | |||
Heritage Hills [Member] | ||||
Operating Leases, Future Minimum Payments Due, Next Twelve Months | $ 59,000 | |||
Branch Office Space Beginning April 2015 [Member] | ||||
Operating Leases, Future Minimum Payments Due, Next Twelve Months | $ 19,000 |
Note 13 - Income Taxes (Details
Note 13 - Income Taxes (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 34.00% | ||
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability | $ 290,000 | ||
Reclassification from AOCI to Retained Earnings for Change in Federal Tax Rate | |||
Unrecognized Tax Benefits | 0 | $ 0 | |
Retained Earnings, Appropriated | 909,000 | 909,000 | |
Deferred Tax Liability Not Recognized, Amount of Unrecognized Deferred Tax Liability, Bad Debt Reserve for Tax Purposes of Qualified Lender | 191,000 | $ 309,000 | |
Retained Earnings [Member] | |||
Reclassification from AOCI to Retained Earnings for Change in Federal Tax Rate | 352,000 | ||
Retained Earnings [Member] | Accounting Standards Update 2018-02 [Member] | |||
Reclassification from AOCI to Retained Earnings for Change in Federal Tax Rate | 352,000 | ||
AOCI Attributable to Parent [Member] | |||
Reclassification from AOCI to Retained Earnings for Change in Federal Tax Rate | (352,000) | ||
AOCI Attributable to Parent [Member] | Accounting Standards Update 2018-02 [Member] | |||
Reclassification from AOCI to Retained Earnings for Change in Federal Tax Rate | $ (352,000) | ||
Scenario, Forecast [Member] | |||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% |
Note 13 - Income Taxes - Compon
Note 13 - Income Taxes - Components of Income Tax Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Current | $ 2,755 | $ 2,303 | $ 1,292 | ||||||||||||
Deferred income taxes | 348 | 220 | 672 | ||||||||||||
Totals | $ 928 | $ 825 | $ 835 | $ 515 | $ 626 | $ 666 | $ 667 | $ 564 | $ 501 | $ 507 | $ 487 | $ 469 | $ 3,103 | $ 2,523 | $ 1,964 |
Note 13 - Income Taxes - Reconc
Note 13 - Income Taxes - Reconciliation of Income Tax Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Provision at federal statutory tax rate | $ 3,589 | $ 3,196 | $ 2,440 | ||||||||||||
State income tax-net of federal tax benefit | 96 | 111 | 107 | ||||||||||||
Change in state statutory tax rate | (5) | (4) | (4) | ||||||||||||
Revaluation of net deferred tax asset due to change | 290 | ||||||||||||||
Tax-exempt interest income | (507) | (416) | (405) | ||||||||||||
Bank-owned life insurance income | (73) | (62) | (83) | ||||||||||||
Captive insurance net premiums | (290) | (294) | (322) | ||||||||||||
Nondeductible acquisition expense | 219 | ||||||||||||||
Other | 3 | (8) | 12 | ||||||||||||
Totals | $ 928 | $ 825 | $ 835 | $ 515 | $ 626 | $ 666 | $ 667 | $ 564 | $ 501 | $ 507 | $ 487 | $ 469 | $ 3,103 | $ 2,523 | $ 1,964 |
Effective tax rate | 29.40% | 26.80% | 27.40% |
Note 13 - Income Taxes - Deferr
Note 13 - Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Deferred tax assets (liabilities): | ||
Deferred compensation plans | $ 121 | $ 200 |
Allowance for loan losses | 743 | 876 |
Accrued expenses | 45 | |
Unrealized loss on securities available for sale | 647 | 1,335 |
Restricted stock | 11 | 16 |
Valuation allowance on foreclosed real estate | 87 | 119 |
Interest on nonaccrual loans | 220 | 265 |
Other | 58 | 26 |
Deferred tax assets | 1,887 | 2,882 |
Depreciation | (587) | (632) |
Deferred loan fees and costs | (262) | (261) |
FHLB stock dividends | (37) | (56) |
Prepaid expenses | (201) | (295) |
Acquisition purchase accounting adjustments | (184) | (334) |
Other | (39) | (43) |
Deferred tax liabilities | (1,310) | (1,621) |
Net deferred tax asset | $ 577 | $ 1,261 |
Note 14 - Employee Benefit Pl91
Note 14 - Employee Benefit Plans (Details Textual) - USD ($) | Dec. 31, 1998 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Defined Contribution Plan, Employer Discretionary Contribution Amount | $ 478,000 | $ 472,000 | $ 362,000 | |
Stock Purchased by Employee Stock Ownership Plan, Shares | 61,501 | |||
Employee Stock Ownership Plan (ESOP) Loan Payments From ESOP Loan Term | 10 years | |||
Employee Stock Ownership Plan (ESOP), Compensation Expense | $ 0 | $ 0 | $ 0 | |
Employee Stock Ownership Plan (ESOP), Number of Allocated Shares | 53,181 | 54,196 |
Note 15 - Deferred Compensati92
Note 15 - Deferred Compensation Plans (Details Textual) | 12 Months Ended | ||
Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | |
Peoples Bancorp, Inc [Member] | |||
Deferred Compensation Arrangement with Individual, Maximum Contractual Term | 10 years | ||
Number of Key Employees | 3 | ||
Officer [Member] | |||
Deferred Compensation Arrangement with Individual, Maximum Contractual Term | 15 years | ||
Deferred Compensation Liability, Current and Noncurrent | $ 332,000 | $ 365,000 | |
Deferred Compensation Arrangement with Individual, Compensation Expense | $ 19,000 | 21,000 | $ 8,000 |
Director [Member] | |||
Deferred Compensation Arrangement with Individual, Maximum Contractual Term | 15 years | ||
Deferred Compensation Liability, Current and Noncurrent | $ 157,000 | 161,000 | |
Deferred Compensation Arrangement with Individual, Compensation Expense | $ 19,000 | $ 19,000 | $ 19,000 |
Note 16 - Stock-based Compens93
Note 16 - Stock-based Compensation Plan (Details Textual) - USD ($) | Feb. 20, 2018 | Feb. 17, 2015 | May 20, 2009 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Restricted Stock [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 0 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 0 | |||||
Allocated Share-based Compensation Expense | $ 89,000 | $ 82,000 | $ 71,000 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value | $ 109,000 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | 3,500 | 0 | 0 | |||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 212,000 | |||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 2 years 182 days | |||||
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-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 24.50 | |||||
Stock Issued During Period, Value, Restricted Stock Award, Gross | $ 478,000 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 5 years | |||||
Restricted Stock [Member] | Officers, Directors and Key Employees [Member] | Subsequent Event [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 20,000 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 37.42 | |||||
Stock Issued During Period, Value, Restricted Stock Award, Gross | $ 748,000 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 5 years | |||||
Equity Incentive Plan 2009 [Member] | ||||||
Maximum Fair Value of First Exercisable Stock Incentive Options | $ 100,000 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 0 | |||||
Equity Incentive Plan 2009 [Member] | Common Stock [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 223,000 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 204,000 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years |
Note 16 - Stock-based Compens94
Note 16 - Stock-based Compensation Plan - Summary of Nonvested Restricted Shares (Details) - Restricted Stock [Member] - $ / shares | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Nonvested at beginning of year (in shares) | 14,000 | ||
Nonvested at beginning of year (in dollars per share) | $ 24.50 | $ 24.50 | |
Granted, Weighted Number of Shares (in shares) | 0 | ||
Granted, Average Grant Date Fair Value (in dollars per share) | $ 0 | ||
Vested, Weighted Number of Shares (in shares) | 3,500 | 0 | 0 |
Vested, Average Grant Date Fair Value (in dollars per share) | $ 24.50 | ||
Forfeited, Weighted Number of Shares (in shares) | 0 | ||
Forfeited, Average Grant Date Fair Value (in dollars per share) | $ 0 | ||
Nonvested, Weighted Number of Shares (in shares) | 10,500 | 14,000 |
Note 17 - Commitments and Con95
Note 17 - Commitments and Contingencies - Commitments to Extend Credit (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Fixed rate | $ 933 | $ 4,542 |
Adjustable rate | 8,245 | 10,661 |
Commitments to extend credit | 117,900 | 106,563 |
Standby Letters of Credit [Member] | ||
Commitments to extend credit | 1,246 | 1,245 |
Unused Lines of Credit On Credit Cards [Member] | ||
Commitments to extend credit | 5,660 | 5,463 |
Undisbursed Commercial and Personal Lines of Credit [Member] | ||
Commitments to extend credit | 32,302 | 32,125 |
Undisbursed Portion of Construction Loans in Process [Member] | ||
Commitments to extend credit | 25,020 | 19,037 |
Undisbursed Portion of Home Equity Lines of Credit [Member] | ||
Commitments to extend credit | $ 44,494 | $ 33,490 |
Note 19 - Regulatory Matters -
Note 19 - Regulatory Matters - Actual Capital Amounts and Ratios (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Total capital (to risk weighted assets) actual amount | $ 75,704 | $ 71,832 |
Total capital (to risk weighted assets) actual ratio | 14.49% | 14.98% |
Total capital (to risk weighted assets) minimum amount for capital adequacy purposes | $ 48,314 | $ 41,354 |
Total capital (to risk weighted assets) minimum ratio for capital adequacy purposes | 9.25% | 8.625% |
Total capital (to risk weighted assets) minimum amount to be well capitalized under prompt corrective action provisions | $ 52,231 | $ 47,946 |
Total capital (to risk weighted assets) minimum ratio to be well capitalized under prompt corrective action provisions | 10.00% | 10.00% |
Tier 1 capital (to risk weighted assets) | $ 72,070 | $ 68,446 |
Tier I capital (to risk weighted assets) actual ratio | 13.80% | 14.28% |
Tier I capital (to risk weighted assets) minimum amount for capital adequacy purposes | $ 37,868 | $ 31,764 |
Tier I capital (to risk weighted assets) minimum ratio for capital adequacy purposes | 7.25% | 6.625% |
Tier I capital (to risk weighted assets) minimum amount to be well capitalized under prompt corrective action provisions | $ 41,785 | $ 38,357 |
Tier I capital (to risk weighted assets) minimum ratio to be well capitalized under prompt corrective action provisions | 8.00% | 8.00% |
Common equity Tier 1 capital (to risk weighted assets) | $ 72,070 | $ 68,446 |
Common equity Tier I capital (to risk weighted assets) actual ratio | 13.80% | 14.28% |
Common equity Tier I capital (to risk weighted assets) minimum amount for capital adequacy purposes | $ 30,033 | $ 24,572 |
Common equity Tier I capital (to risk weighted assets) minimum ratio for capital adequacy purposes | 5.75% | 5.125% |
Common equity Tier I capital (to risk weighted assets) minimum amount to be well capitalized under prompt corrective action provisions | $ 33,950 | $ 31,165 |
Common equity Tier I capital (to risk weighted assets) minimum ratio to be well capitalized under prompt corrective action provisions | 6.50% | 6.50% |
Tier 1 capital (to average assets) | $ 72,070 | $ 68,446 |
Tier I capital (to average assets) actual ratio | 9.67% | 9.30% |
Tier I capital (to average assets) minimum amount for capital adequacy purposes | $ 29,812 | $ 29,447 |
Tier I capital (to average assets) minimum ratio for capital adequacy purposes | 4.00% | 4.00% |
Tier I capital (to average assets) minimum amount to be well capitalized under prompt corrective action provisions | $ 37,266 | $ 36,809 |
Tier I capital (to average assets) minimum ratio to be well capitalized under prompt corrective action provisions | 5.00% | 5.00% |
Note 20 - Fair Value Measurem97
Note 20 - Fair Value Measurements (Details Textual) - USD ($) | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Financial and Nonfinancial Liabilities, Fair Value Disclosure | $ 0 | $ 0 | $ 0 | $ 0 | |||||||||||
Provision for Loan and Lease Losses | $ 298,000 | $ 150,000 | $ 256,000 | $ 211,000 | $ 220,000 | $ 200,000 | $ 150,000 | $ 75,000 | $ 50,000 | 915,000 | 645,000 | $ 50,000 | |||
Impaired Loan [Member] | |||||||||||||||
Provision for Loan and Lease Losses | 39,000 | 158,000 | 154,000 | ||||||||||||
Foreclosed Real Estate [Member] | |||||||||||||||
SEC Schedule III, Real Estate, Write-down or Reserve, Amount | $ 263,000 | $ 80,000 | $ 100,000 | ||||||||||||
Fair Value, Inputs, Level 3 [Member] | Impaired Loan [Member] | Minimum [Member] | |||||||||||||||
Fair Value Inputs, Estimated Selling Costs | 14.00% | 33.00% | |||||||||||||
Fair Value, Inputs, Level 3 [Member] | Impaired Loan [Member] | Maximum [Member] | |||||||||||||||
Fair Value Inputs, Estimated Selling Costs | 62.00% | 65.00% | |||||||||||||
Fair Value, Inputs, Level 3 [Member] | Impaired Loan [Member] | Weighted Average [Member] | |||||||||||||||
Fair Value Inputs, Estimated Selling Costs | 39.00% | 39.00% | |||||||||||||
Fair Value, Inputs, Level 3 [Member] | Foreclosed Real Estate [Member] | Minimum [Member] | |||||||||||||||
Fair Value Inputs, Estimated Selling Costs | 17.00% | 10.00% | |||||||||||||
Fair Value, Inputs, Level 3 [Member] | Foreclosed Real Estate [Member] | Maximum [Member] | |||||||||||||||
Fair Value Inputs, Estimated Selling Costs | 75.00% | 77.00% | |||||||||||||
Fair Value, Inputs, Level 3 [Member] | Foreclosed Real Estate [Member] | Weighted Average [Member] | |||||||||||||||
Fair Value Inputs, Estimated Selling Costs | 45.00% | 38.00% |
Note 20 - Fair Value Measurem98
Note 20 - Fair Value Measurements - Assets Measured at Fair Value on Recurring and Nonrecurring Basis (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Available-for-sale Securities | $ 271,172 | $ 255,770 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Available-for-sale Securities | 112,649 | 108,237 |
Agency Collateralized Mortgage Obligations [Member] | ||
Available-for-sale Securities | 15,323 | 16,028 |
US Government Agencies Debt Securities [Member] | ||
Available-for-sale Securities | 69,028 | 68,662 |
Municipal Notes [Member] | ||
Available-for-sale Securities | 74,172 | 62,843 |
Fair Value, Measurements, Recurring [Member] | ||
Available-for-sale Securities | 271,172 | 255,770 |
Fair Value, Measurements, Recurring [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Available-for-sale Securities | 112,649 | 108,237 |
Fair Value, Measurements, Recurring [Member] | Agency Collateralized Mortgage Obligations [Member] | ||
Available-for-sale Securities | 15,323 | 16,028 |
Fair Value, Measurements, Recurring [Member] | US Government Agencies Debt Securities [Member] | ||
Available-for-sale Securities | 69,028 | 68,662 |
Fair Value, Measurements, Recurring [Member] | Municipal Notes [Member] | ||
Available-for-sale Securities | 74,172 | 62,843 |
Fair Value, Measurements, Nonrecurring [Member] | ||
Impaired loans | 3,371 | 3,622 |
Loans held for sale | 2,630 | 4,507 |
Foreclosed real estate | 3,971 | 4,674 |
Fair Value, Measurements, Nonrecurring [Member] | Residential Mortgage Segment [Member] | ||
Impaired loans | 2,872 | 2,060 |
Foreclosed real estate | 443 | 226 |
Fair Value, Measurements, Nonrecurring [Member] | Commercial Real Estate Segment [Member] | ||
Impaired loans | 401 | 1,217 |
Foreclosed real estate | 3,528 | 4,448 |
Fair Value, Measurements, Nonrecurring [Member] | Commercial Business Segment [Member] | ||
Impaired loans | 38 | 100 |
Fair Value, Measurements, Nonrecurring [Member] | Home Equity and Second Mortgage [Member] | ||
Impaired loans | 60 | 231 |
Fair Value, Measurements, Nonrecurring [Member] | Other Consumer Loan [Member] | ||
Impaired loans | 14 | |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Available-for-sale Securities | ||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Available-for-sale Securities | ||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Agency Collateralized Mortgage Obligations [Member] | ||
Available-for-sale Securities | ||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | US Government Agencies Debt Securities [Member] | ||
Available-for-sale Securities | ||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Municipal Notes [Member] | ||
Available-for-sale Securities | ||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Impaired loans | ||
Loans held for sale | ||
Foreclosed real estate | ||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Residential Mortgage Segment [Member] | ||
Impaired loans | ||
Foreclosed real estate | ||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Commercial Real Estate Segment [Member] | ||
Impaired loans | ||
Foreclosed real estate | ||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Commercial Business Segment [Member] | ||
Impaired loans | ||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Home Equity and Second Mortgage [Member] | ||
Impaired loans | ||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Other Consumer Loan [Member] | ||
Impaired loans | ||
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Available-for-sale Securities | 271,172 | 255,770 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Available-for-sale Securities | 112,649 | 108,237 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Agency Collateralized Mortgage Obligations [Member] | ||
Available-for-sale Securities | 15,323 | 16,028 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | US Government Agencies Debt Securities [Member] | ||
Available-for-sale Securities | 69,028 | 68,662 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Municipal Notes [Member] | ||
Available-for-sale Securities | 74,172 | 62,843 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Impaired loans | ||
Loans held for sale | 2,630 | 4,507 |
Foreclosed real estate | ||
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Residential Mortgage Segment [Member] | ||
Impaired loans | ||
Foreclosed real estate | ||
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Commercial Real Estate Segment [Member] | ||
Impaired loans | ||
Foreclosed real estate | ||
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Commercial Business Segment [Member] | ||
Impaired loans | ||
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Home Equity and Second Mortgage [Member] | ||
Impaired loans | ||
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Other Consumer Loan [Member] | ||
Impaired loans | ||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Available-for-sale Securities | ||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Available-for-sale Securities | ||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Agency Collateralized Mortgage Obligations [Member] | ||
Available-for-sale Securities | ||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | US Government Agencies Debt Securities [Member] | ||
Available-for-sale Securities | ||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Municipal Notes [Member] | ||
Available-for-sale Securities | ||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Impaired loans | 3,371 | 3,622 |
Loans held for sale | ||
Foreclosed real estate | 3,971 | 4,674 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Residential Mortgage Segment [Member] | ||
Impaired loans | 2,872 | 2,060 |
Foreclosed real estate | 443 | 226 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Commercial Real Estate Segment [Member] | ||
Impaired loans | 401 | 1,217 |
Foreclosed real estate | 3,528 | 4,448 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Commercial Business Segment [Member] | ||
Impaired loans | 38 | 100 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Home Equity and Second Mortgage [Member] | ||
Impaired loans | $ 60 | 231 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Other Consumer Loan [Member] | ||
Impaired loans | $ 14 |
Note 21 - Disclosures About F99
Note 21 - Disclosures About Fair Value of Financial Instruments - Carrying Value and Estimated Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Financial assets: | ||
Securities available for sale, at fair value | $ 271,172 | $ 255,770 |
Securities held to maturity | 1 | 2 |
Reported Value Measurement [Member] | ||
Financial assets: | ||
Cash and cash equivalents | 25,915 | 45,909 |
Interest-bearing time deposits | 9,258 | 14,735 |
Securities available for sale, at fair value | 271,172 | 255,770 |
Securities held to maturity | 1 | 2 |
Loans held for sale | 2,630 | 4,507 |
Loans, net | 409,618 | 381,154 |
FHLB and other stock | 1,979 | 1,650 |
Accrued interest receivable | 2,694 | 2,363 |
FHLB and other stock | 1,979 | 1,650 |
Financial liabilities: | ||
Deposits | 664,562 | 664,650 |
FHLB advances | 10,000 | |
Accrued interest payable | 107 | 133 |
Estimate of Fair Value Measurement [Member] | ||
Financial assets: | ||
Cash and cash equivalents | 25,915 | 45,909 |
Interest-bearing time deposits | 9,220 | 14,786 |
Securities available for sale, at fair value | 271,172 | 255,770 |
Securities held to maturity | 1 | 2 |
Loans held for sale | 2,678 | 4,598 |
Loans, net | 404,931 | 381,459 |
Accrued interest receivable | 2,694 | 2,363 |
Financial liabilities: | ||
Deposits | 663,006 | 663,806 |
FHLB advances | 10,000 | |
Accrued interest payable | 107 | 133 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Financial assets: | ||
Cash and cash equivalents | 25,915 | 45,909 |
Interest-bearing time deposits | ||
Securities available for sale, at fair value | 271,172 | |
Securities held to maturity | ||
Loans held for sale | ||
Loans, net | ||
Accrued interest receivable | ||
Financial liabilities: | ||
Deposits | ||
FHLB advances | ||
Accrued interest payable | ||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Financial assets: | ||
Cash and cash equivalents | ||
Interest-bearing time deposits | 9,220 | 14,786 |
Securities available for sale, at fair value | 255,770 | |
Securities held to maturity | 1 | 2 |
Loans held for sale | 2,678 | 4,598 |
Loans, net | ||
Accrued interest receivable | 2,694 | 2,363 |
Financial liabilities: | ||
Deposits | ||
FHLB advances | 10,000 | |
Accrued interest payable | 107 | 133 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Financial assets: | ||
Cash and cash equivalents | ||
Interest-bearing time deposits | ||
Securities available for sale, at fair value | ||
Securities held to maturity | ||
Loans held for sale | ||
Loans, net | 404,931 | 381,459 |
Accrued interest receivable | ||
Financial liabilities: | ||
Deposits | 663,006 | 663,806 |
FHLB advances | ||
Accrued interest payable |
Note 22 - Parent Company Con100
Note 22 - Parent Company Condensed Financial Information - Condensed Balance Sheets (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Other assets | $ 1,824 | $ 3,240 | ||
758,956 | 743,658 | |||
Stockholders' equity | 80,938 | 75,730 | ||
758,956 | 743,658 | |||
Parent Company [Member] | ||||
Cash and cash equivalents | 1,850 | 727 | $ 461 | $ 309 |
Other assets | 234 | 243 | ||
Investment in subsidiaries | 78,854 | 74,790 | ||
80,938 | 75,760 | |||
Accrued expenses | 30 | |||
Stockholders' equity | 80,938 | 75,730 | ||
$ 80,938 | $ 75,760 |
Note 22 - Parent Company Con101
Note 22 - Parent Company Condensed Financial Information - Condensed Statements of Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Dividends | $ 78 | $ 67 | $ 107 | ||||||||||||
Other operating expenses | (3,448) | (3,589) | (2,558) | ||||||||||||
Income tax benefit | $ (928) | $ (825) | $ (835) | $ (515) | $ (626) | $ (666) | $ (667) | $ (564) | $ (501) | $ (507) | $ (487) | $ (469) | (3,103) | (2,523) | (1,964) |
Net income | $ 1,587 | $ 2,109 | $ 2,190 | $ 1,553 | $ 1,741 | $ 1,758 | $ 1,783 | $ 1,582 | $ 1,106 | $ 1,398 | $ 1,228 | $ 1,466 | 7,439 | 6,864 | 5,198 |
Parent Company [Member] | |||||||||||||||
Dividend income from subsidiaries | 4,175 | 2,550 | 18,200 | ||||||||||||
Dividends | 4 | 152 | 9 | ||||||||||||
Other operating expenses | (383) | (534) | (1,116) | ||||||||||||
Income before income taxes and equity in undistributed net income of subsidiaries | 3,796 | 2,168 | 17,093 | ||||||||||||
Income tax benefit | 147 | 158 | 179 | ||||||||||||
Income before equity in undistributed net income of subsidiaries | 3,943 | 2,326 | 17,272 | ||||||||||||
Equity in undistributed net income of subsidiaries | 3,496 | 4,538 | (12,074) | ||||||||||||
Net income | $ 7,439 | $ 6,864 | $ 5,198 |
Note 22 - Parent Company Con102
Note 22 - Parent Company Condensed Financial Information - Condensed Statements of Cash Flows (Details) - USD ($) | 1 Months Ended | 3 Months Ended | 12 Months Ended | 15 Months Ended | ||||||||||||
Jul. 31, 2016 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Jun. 30, 2017 | |
Net Income | $ 1,590,000 | $ 2,112,000 | $ 2,194,000 | $ 1,556,000 | $ 1,744,000 | $ 1,761,000 | $ 1,585,000 | $ 1,109,000 | $ 1,401,000 | $ 1,232,000 | $ 1,469,000 | $ 7,452,000 | $ 6,877,000 | $ 5,211,000 | $ 1,787,000 | |
Stock compensation expense | 88,000 | 82,000 | 71,000 | |||||||||||||
Net change in other assets and liabilities | 13,419,000 | 8,240,000 | 6,006,000 | |||||||||||||
Proceeds from sale of cost method equity investment | $ 856,000 | 856,000 | ||||||||||||||
Purchase of treasury stock | (18,000) | (34,000) | (10,000) | |||||||||||||
Dividends paid | (2,883,000) | (2,817,000) | (2,449,000) | |||||||||||||
Net increase in cash and cash equivalents | (19,994,000) | (63,383,000) | 73,966,000 | |||||||||||||
Parent Company [Member] | ||||||||||||||||
Net Income | 7,439,000 | 6,864,000 | 5,198,000 | |||||||||||||
Equity in undistributed net income of subsidiaries | (3,496,000) | (4,538,000) | 12,074,000 | |||||||||||||
Stock compensation expense | 88,000 | 82,000 | 71,000 | |||||||||||||
Gain on sale of cost method equity investment | (145,000) | |||||||||||||||
Net change in other assets and liabilities | (20,000) | (15,000) | 3,000 | |||||||||||||
Net cash provided by operating activities | 4,011,000 | 2,248,000 | 17,346,000 | |||||||||||||
Proceeds from sale of cost method equity investment | 856,000 | |||||||||||||||
Net cash paid in acquisition of Peoples | (14,748,000) | |||||||||||||||
Net cash provided by (used in) investing activities | 856,000 | (14,748,000) | ||||||||||||||
Purchase of treasury stock | (18,000) | (34,000) | (10,000) | |||||||||||||
Dividends paid | (2,870,000) | (2,804,000) | (2,436,000) | |||||||||||||
Net cash used in financing activities | (2,888,000) | (2,838,000) | (2,446,000) | |||||||||||||
Net increase in cash and cash equivalents | 1,123,000 | 266,000 | 152,000 | |||||||||||||
Cash and cash equivalents at beginning of year | $ 727,000 | $ 461,000 | $ 309,000 | 727,000 | 461,000 | 309,000 | ||||||||||
Cash and cash equivalents at end of year | $ 1,850,000 | $ 727,000 | $ 461,000 | $ 1,850,000 | $ 727,000 | $ 461,000 |
Note 23 - Supplemental Discl103
Note 23 - Supplemental Disclosure of Cash Flow Information - Supplemental Disclosures of Cash Flow Information (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Cash payments for: | |||
Interest | $ 1,466 | $ 1,914 | $ 978 |
Income taxes (net of refunds received) | 3,010 | 1,054 | 1,040 |
Noncash investing activities: | |||
Transfers from loans to foreclosed real estate | 555 | 1,307 | 809 |
Proceeds from sales of foreclosed real estate financed through loans | 15 | 288 | |
Noncash financing activity: | |||
Issuance of common stock in Peoples acquisition | $ 14,755 |
Note 24 - Supplemental Discl104
Note 24 - Supplemental Disclosure for Earnings Per Share (Details Textual) - shares shares in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Restricted Stock [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 0 | 0 | 0 |
Note 24 - Supplemental Discl105
Note 24 - Supplemental Disclosure for Earnings Per Share - Supplemental Disclosure for Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Net income attributable to First Capital, Inc. | $ 1,587 | $ 2,109 | $ 2,190 | $ 1,553 | $ 1,741 | $ 1,758 | $ 1,783 | $ 1,582 | $ 1,106 | $ 1,398 | $ 1,228 | $ 1,466 | $ 7,439 | $ 6,864 | $ 5,198 |
Weighted average common shares outstanding (in shares) | 3,325,032 | 3,340,566 | 2,783,508 | ||||||||||||
Basic (in dollars per share) | $ 0.49 | $ 0.63 | $ 0.66 | $ 0.46 | $ 0.52 | $ 0.53 | $ 0.53 | $ 0.47 | $ 0.38 | $ 0.51 | $ 0.45 | $ 0.53 | $ 2.24 | $ 2.05 | $ 1.87 |
Add: Dilutive effect of restricted stock (in shares) | 4,531 | 2,850 | 404 | ||||||||||||
Weighted average common shares outstanding, as adjusted (in shares) | 3,329,563 | 3,343,416 | 2,783,912 | ||||||||||||
Net income per common share attributable to First Capital, Inc., diluted (in dollars per share) | $ 2.23 | $ 2.05 | $ 1.87 |
Note 25 - Selected Quarterly106
Note 25 - Selected Quarterly Financial Information (Unaudited) - Selected Quarterly Financial Information (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | 15 Months Ended | |||||||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Jun. 30, 2017 | |
Interest income | $ 6,773 | $ 6,728 | $ 6,578 | $ 6,343 | $ 6,244 | $ 6,215 | $ 6,289 | $ 6,346 | $ 5,109 | $ 4,553 | $ 4,555 | $ 4,496 | $ 26,422 | $ 25,094 | $ 18,713 | |
Interest expense | 344 | 343 | 346 | 359 | 393 | 414 | 456 | 500 | 302 | 220 | 239 | 243 | 1,392 | 1,763 | 1,004 | |
Net interest income | 6,429 | 6,385 | 6,232 | 5,984 | 5,851 | 5,801 | 5,833 | 5,846 | 4,807 | 4,333 | 4,316 | 4,253 | 25,030 | 23,331 | 17,709 | |
Provision for loan losses | 298 | 150 | 256 | 211 | 220 | 200 | 150 | 75 | 50 | 915 | 645 | 50 | ||||
Net interest income after provision for loan losses | 6,131 | 6,235 | 5,976 | 5,773 | 5,631 | 5,601 | 5,683 | 5,771 | 4,807 | 4,333 | 4,266 | 4,253 | 24,115 | 22,686 | 17,659 | |
Noninterest income | 1,641 | 1,748 | 1,856 | 1,453 | 1,436 | 1,750 | 1,615 | 1,368 | 1,320 | 1,226 | 1,214 | 1,364 | 6,698 | 6,169 | 5,124 | |
Noninterest expenses | 5,254 | 5,046 | 4,803 | 5,155 | 4,697 | 4,924 | 4,844 | 4,990 | 4,517 | 3,651 | 3,761 | 3,679 | 20,258 | 19,455 | 15,608 | |
Income before income taxes | 2,518 | 2,937 | 3,029 | 2,071 | 2,370 | 2,427 | 2,454 | 2,149 | 1,610 | 1,908 | 1,719 | 1,938 | 10,555 | 9,400 | 7,175 | |
Income tax expense | 928 | 825 | 835 | 515 | 626 | 666 | 667 | 564 | 501 | 507 | 487 | 469 | 3,103 | 2,523 | 1,964 | |
Net Income | 1,590 | 2,112 | 2,194 | 1,556 | 1,744 | 1,761 | 1,585 | 1,109 | 1,401 | 1,232 | 1,469 | 7,452 | 6,877 | 5,211 | $ 1,787 | |
Less net income attributable to the noncontrolling interest in subsidiary | 3 | 3 | 4 | 3 | 3 | 3 | 4 | 3 | 3 | 3 | 4 | 3 | 13 | 13 | 13 | |
Net income | $ 1,587 | $ 2,109 | $ 2,190 | $ 1,553 | $ 1,741 | $ 1,758 | $ 1,783 | $ 1,582 | $ 1,106 | $ 1,398 | $ 1,228 | $ 1,466 | $ 7,439 | $ 6,864 | $ 5,198 | |
Basic (in dollars per share) | $ 0.49 | $ 0.63 | $ 0.66 | $ 0.46 | $ 0.52 | $ 0.53 | $ 0.53 | $ 0.47 | $ 0.38 | $ 0.51 | $ 0.45 | $ 0.53 | $ 2.24 | $ 2.05 | $ 1.87 | |
Diluted (in dollars per share) | $ 0.48 | $ 0.63 | $ 0.66 | $ 0.46 | $ 0.52 | $ 0.53 | $ 0.53 | $ 0.47 | $ 0.38 | $ 0.51 | $ 0.45 | $ 0.53 | $ 2.23 | $ 2.05 | $ 1.87 |