Document And Entity Information
Document And Entity Information - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Feb. 28, 2020 | Jun. 30, 2019 | |
Document Information [Line Items] | |||
Entity Registrant Name | FIRST CAPITAL INC | ||
Entity Central Index Key | 0001070296 | ||
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 Emerging Growth Company | false | ||
Entity Small Business | true | ||
Entity Interactive Data Current | Yes | ||
Entity Common Stock, Shares Outstanding (in shares) | 3,377,882 | ||
Entity Public Float | $ 163.1 | ||
Entity Shell Company | false | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2019 | ||
Document Fiscal Year Focus | 2019 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false | ||
Title of 12(b) Security | Common Stock, par value $0.01 per share |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
ASSETS | ||
Cash and due from banks | $ 18,922 | $ 17,394 |
Interest-bearing deposits with banks | 3,412 | 1,717 |
Federal funds sold | 29,026 | 22,001 |
Total cash and cash equivalents | 51,360 | 41,112 |
Interest-bearing time deposits | 6,490 | 7,710 |
Securities available for sale, at fair value | 254,562 | 261,841 |
Loans, net | 466,494 | 434,260 |
Loans held for sale | 4,176 | 2,849 |
Federal Home Loan Bank and other restricted stock, at cost | 1,988 | 1,988 |
Foreclosed real estate | 170 | 3,142 |
Premises and equipment | 16,414 | 14,364 |
Accrued interest receivable | 3,076 | 2,828 |
Cash value of life insurance | 8,269 | 8,059 |
Goodwill | 6,472 | 6,472 |
Core deposit intangible | 819 | 966 |
Other assets | 7,206 | 8,571 |
Total Assets | 827,496 | 794,162 |
LIABILITIES | ||
Noninterest-bearing | 146,097 | 143,249 |
Interest-bearing | 576,080 | 558,397 |
Total deposits | 722,177 | 701,646 |
Accrued interest payable | 210 | 150 |
Accrued expenses and other liabilities | 6,161 | 6,410 |
Total liabilities | 728,548 | 708,206 |
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 3,791,283 shares (3,781,533 shares in 2018); outstanding 3,363,632 shares (3,354,744 shares in 2018) | 38 | 38 |
Additional paid-in capital | 40,723 | 40,215 |
Retained earnings-substantially restricted | 65,266 | 58,137 |
Unearned stock compensation | (940) | (720) |
Accumulated other comprehensive income (loss) | 2,142 | (3,477) |
Less treasury stock, at cost - 427,651 shares (426,789 shares in 2018) | (8,393) | (8,349) |
Total First Capital, Inc. stockholders' equity | 98,836 | 85,844 |
Noncontrolling interest in subsidiary | 112 | 112 |
Total equity | 98,948 | 85,956 |
Total Liabilities and Equity | $ 827,496 | $ 794,162 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - $ / shares | Dec. 31, 2019 | Dec. 31, 2018 |
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized (in shares) | 1,000,000 | 1,000,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 7,500,000 | 7,500,000 |
Common stock, shares issued (in shares) | 3,791,283 | 3,781,533 |
Common stock, shares outstanding (in shares) | 3,363,632 | 3,354,744 |
Treasury stock, shares (in shares) | 427,651 | 426,789 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
INTEREST INCOME | |||
Loans, including fees | $ 25,746 | $ 22,818 | $ 20,700 |
Securities: | |||
Taxable | 3,643 | 3,756 | 3,835 |
Tax-exempt | 1,706 | 1,455 | 1,437 |
Dividends | 103 | 97 | 78 |
Other interest income | 856 | 760 | 372 |
Total interest income | 32,054 | 28,886 | 26,422 |
INTEREST EXPENSE | |||
Deposits | 1,960 | 1,590 | 1,374 |
Advances from Federal Home Loan Bank | 21 | 18 | |
Total interest expense | 1,960 | 1,611 | 1,392 |
Net interest income | 30,094 | 27,275 | 25,030 |
Provision for loan losses | 1,425 | 1,168 | 915 |
Net interest income after provision for loan losses | 28,669 | 26,107 | 24,115 |
NONINTEREST INCOME | |||
Noninterest income | 5,528 | 5,255 | 4,966 |
Gain (loss) on sale of available for sale securities and time deposits | (147) | (95) | 54 |
Gain on sale of loans | 1,191 | 1,100 | 1,385 |
Unrealized gain (loss) on equity securities | 32 | (207) | |
Impairment loss on tax credit investment | (270) | ||
Increase in cash value of life insurance | 211 | 227 | 197 |
Other income | 235 | 286 | 219 |
Total noninterest income | 6,926 | 6,168 | 6,698 |
NONINTEREST EXPENSE | |||
Compensation and benefits | 13,119 | 11,749 | 11,215 |
Occupancy and equipment | 1,616 | 1,660 | 1,543 |
Data processing | 3,536 | 3,078 | 2,727 |
Professional fees | 742 | 791 | 675 |
Advertising | 540 | 333 | 334 |
Net loss on foreclosed real estate | 299 | 476 | 316 |
Other expenses | 3,418 | 3,528 | 3,448 |
Total noninterest expense | 23,270 | 21,615 | 20,258 |
Income before income taxes | 12,325 | 10,660 | 10,555 |
Income tax expense | 1,987 | 1,394 | 3,103 |
Net Income | 10,338 | 9,266 | 7,452 |
Less: net income attributable to noncontrolling interest in subsidiary | 13 | 13 | 13 |
Net Income Attributable to First Capital, Inc. | $ 10,325 | $ 9,253 | $ 7,439 |
Earnings per common share attributable to First Capital, Inc.: | |||
Basic (in dollars per share) | $ 3.10 | $ 2.78 | $ 2.24 |
Diluted (in dollars per share) | 3.09 | 2.77 | 2.23 |
Dividends per share on common shares (in dollars per share) | $ 0.95 | $ 0.92 | $ 0.86 |
Deposit Account [Member] | |||
NONINTEREST INCOME | |||
Noninterest income | $ 2,088 | $ 2,177 | $ 2,098 |
ATM and Debit Card Fees [Member] | |||
NONINTEREST INCOME | |||
Noninterest income | 2,812 | 2,564 | 2,329 |
Investment Advisory, Management and Administrative Service [Member] | |||
NONINTEREST INCOME | |||
Noninterest income | $ 504 | $ 386 | $ 416 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Net income | $ 10,338 | $ 9,266 | $ 7,452 |
OTHER COMPREHENSIVE INCOME (LOSS) | |||
Unrealized holding gains (losses) arising during the period | 7,163 | (1,943) | 913 |
Income tax (expense) benefit | 1,649 | (454) | 308 |
Net of tax amount | 5,514 | (1,489) | 605 |
Less: reclassification adjustment for realized (gains) losses included in net income | 134 | 95 | (54) |
Income tax expense (benefit) | (29) | (23) | 18 |
Net of tax amount | 105 | 72 | (36) |
Other Comprehensive Income (Loss), net of tax | 5,619 | (1,417) | 569 |
Total Comprehensive Income | 15,957 | 7,849 | 8,021 |
Less: comprehensive income attributable to the noncontrolling interest in subsidiary | 13 | 13 | 13 |
Comprehensive Income Attributable to First Capital, Inc. | $ 15,944 | $ 7,836 | $ 8,008 |
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, 2016 | $ 38 | $ 39,515 | $ 47,051 | $ (2,277) | $ (300) | $ (8,297) | $ 112 | $ 75,842 |
Net income | 7,439 | 13 | 7,452 | |||||
Other comprehensive income (loss) | 569 | 569 | ||||||
Reclassification from AOCI to retained earnings for change in federal tax rate | 352 | (352) | ||||||
Cash dividends | (2,870) | (13) | (2,883) | |||||
Cash dividends | 2,870 | 13 | 2,883 | |||||
Cash dividends | ||||||||
Stock compensation expense | 88 | 88 | ||||||
Purchase of treasury shares | (18) | (18) | ||||||
Balances at Dec. 31, 2017 | 38 | 39,515 | 51,972 | (2,060) | (212) | (8,315) | 112 | 81,050 |
Net income | 9,253 | 13 | 9,266 | |||||
Other comprehensive income (loss) | (1,417) | (1,417) | ||||||
Cash dividends | (3,088) | (13) | (3,101) | |||||
Cash dividends | 3,088 | 13 | 3,101 | |||||
Cash dividends | ||||||||
Stock compensation expense | 192 | 192 | ||||||
Purchase of treasury shares | (34) | (34) | ||||||
Restricted stock grants, net of forfeitures | 700 | (700) | ||||||
Balances at Dec. 31, 2018 | 38 | 40,215 | 58,137 | (3,477) | (720) | (8,349) | 112 | 85,956 |
Net income | 10,325 | 13 | 10,338 | |||||
Other comprehensive income (loss) | 5,619 | 5,619 | ||||||
Cash dividends | (3,196) | (13) | (3,209) | |||||
Cash dividends | 3,196 | 13 | 3,209 | |||||
Cash dividends | ||||||||
Stock compensation expense | 288 | 288 | ||||||
Purchase of treasury shares | (44) | (44) | ||||||
Restricted stock grants, net of forfeitures | 508 | (508) | ||||||
Balances at Dec. 31, 2019 | $ 38 | $ 40,723 | $ 65,266 | $ 2,142 | $ (940) | $ (8,393) | $ 112 | $ 98,948 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Stockholders' Equity (Parentheticals) - shares | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Purchase of treasury shares (in shares) | 862 | 820 | 588 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
CASH FLOWS FROM OPERATING ACTIVITIES | |||
Net income | $ 10,338,000 | $ 9,266,000 | $ 7,452,000 |
Adjustments to reconcile net income to cash and cash equivalents provided by operating activities: | |||
Amortization of premium and accretion of discount on securities, net | 1,764,000 | 1,689,000 | 1,731,000 |
Depreciation and amortization expense | 1,070,000 | 1,215,000 | 1,226,000 |
Deferred income taxes | 482,000 | (395,000) | 348,000 |
Stock compensation expense | 288,000 | 192,000 | 88,000 |
Increase in cash value of life insurance | (211,000) | (227,000) | (197,000) |
Gain on life insurance | (94,000) | (18,000) | |
(Gain) loss on sale of available for sale securities and time deposits | 147,000 | 95,000 | (54,000) |
Provision for loan losses | 1,425,000 | 1,168,000 | 915,000 |
Proceeds from sale of loans | 70,619,000 | 55,189,000 | 66,674,000 |
Loans originated for sale | (70,755,000) | (54,308,000) | (63,412,000) |
Gain on sale of loans | (1,191,000) | (1,100,000) | (1,385,000) |
Amortization of tax credit investment | 361,000 | 329,000 | |
Impairment loss on tax credit investment | 270,000 | ||
Unrealized (gain) loss on equity securities | (32,000) | 207,000 | |
Net realized and unrealized loss on foreclosed real estate | 170,000 | 442,000 | 260,000 |
Net gain on sale of premises and equipment | (1,000) | ||
Increase in accrued interest receivable | (248,000) | (134,000) | (331,000) |
Increase (decrease) in accrued interest payable | 60,000 | 43,000 | (26,000) |
Net change in other assets/liabilities | (210,000) | (499,000) | 149,000 |
Net Cash Provided By Operating Activities | 14,077,000 | 13,348,000 | 13,419,000 |
CASH FLOWS FROM INVESTING ACTIVITIES | |||
Net decrease in interest-bearing time deposits | 1,207,000 | 1,548,000 | 5,477,000 |
Purchase of securities available for sale | (69,260,000) | (37,350,000) | (48,890,000) |
Proceeds from maturities of securities available for sale | 30,575,000 | 3,325,000 | 5,515,000 |
Proceeds from sales of securities available for sale | 21,725,000 | 14,345,000 | 1,644,000 |
Principal collected on mortgage-backed obligations | 29,679,000 | 25,338,000 | 25,559,000 |
Investment in cash value of life insurance | (1,000,000) | ||
Net increase in loans receivable | (33,973,000) | (25,906,000) | (29,946,000) |
Investment in tax credit entities | (1,203,000) | (1,095,000) | |
Purchase of Federal Home Loan Bank stock | (9,000) | (329,000) | |
Proceeds from sale of foreclosed real estate | 3,116,000 | 483,000 | 1,010,000 |
Purchase of premises and equipment | (2,973,000) | (402,000) | (1,269,000) |
Proceeds from sale of premises and equipment | 1,000 | ||
Purchase of equity investment | (1,922,000) | ||
Proceeds from settlement of bank-owned life insurance policies | 545,000 | 804,000 | |
Net Cash Used In Investing Activities | (21,107,000) | (22,100,000) | (40,424,000) |
CASH FLOWS FROM FINANCING ACTIVITIES | |||
Net increase (decrease) in deposits | 20,531,000 | 37,084,000 | (88,000) |
Net increase (decrease) in advances from Federal Home Loan Bank | (10,000,000) | 10,000,000 | |
Purchase of treasury stock | (2,000) | (32,000) | (16,000) |
Taxes paid on stock award shares for employees | (42,000) | (2,000) | (2,000) |
Dividends paid | (3,209,000) | (3,101,000) | (2,883,000) |
Net Cash Provided By Financing Activities | 17,278,000 | 23,949,000 | 7,011,000 |
Net Increase (Decrease) in Cash and Cash Equivalents | 10,248,000 | 15,197,000 | (19,994,000) |
Cash and cash equivalents at beginning of year | 41,112,000 | 25,915,000 | 45,909,000 |
Cash and Cash Equivalents at End of Year | $ 51,360,000 | $ 41,112,000 | $ 25,915,000 |
Note 1 - Summary of Significant
Note 1 - Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2019 | |
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 financial holding company of First Harrison Bank (the “Bank”), a wholly-owned subsidiary. The Bank is an Indiana chartered commercial bank which provides a variety of banking services to individuals and business customers through 18 eight 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. Declines in the fair value of individual available for sale 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 Equity Securities: FHLB Stock: may 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. 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. 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 loans not five Management also applies additional loss factor multiples to loans classified as watch, special mention and substandard that are not 4 December 31, 2019 2018. 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, 2019 2018. 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 uncollectibility of a portion of the loan has been confirmed, such as when a loan is discharged in bankruptcy, the collateral is liquidated, a loan is restructured at a reduced principal balance, or other identifiable events that lead management to determine the full principal balance of the loan will not not 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, 2019, no 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 and property obtained via a deed in lieu of foreclosure that is currently held for sale. At the time of acquisition, 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 acquisition, 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 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 (loss) on sale of available for sale 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 February 2016, No. 2016 02, Leases (Topic 842 12 not December 15, 2018, July 2018, No. 2018 11, Leases (Topic 842 2018 11 January 1, 2019 not not In June 2016, No. 2016 13, Financial Instruments – Credit Losses (Topic 326 December 15, 2019, one 2016 13, In November 2019, No. 2019 10 2016 13 December 15, 2022, December 15, 2018, In March 2017, No. 2017 08, Receivables – Nonrefundable Fees and Other Costs (Subtopic 310 20 not December 15, 2018. January 1, 2019 not In August 2018, No. 2018 13, Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement no 1 2 3 3 December 15, 2019. not |
Note 2 - Restriction on Cash an
Note 2 - Restriction on Cash and Due From Banks | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Cash and Cash Equivalents Disclosure [Text Block] | ( 2 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, 2019, 2018 2017 $1.9 $1.8 $1.7 |
Note 3 - Investment Securities
Note 3 - Investment Securities | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Investments in Debt and Equity Instruments, Cash and Cash Equivalents, Unrealized and Realized Gains (Losses) [Text Block] | ( 3 INVESTMENT SECURITIES Investment securities have been classified in the consolidated balance sheets according to management’s intent. Investment securities at December 31, 2019 2018 Gross Amortized Cost Gross Unrealized Gains December 31, 2019: Securities available for sale: Agency mortgage-backed securities $ 69,984 $ 90 $ 576 $ 69,498 Agency CMO 43,067 238 221 43,084 Other debt securities: Agency notes and bonds 64,162 473 79 64,556 Municipal obligations 74,606 2,843 25 77,424 Total securities available for sale $ 251,819 $ 3,644 $ 901 $ 254,562 December 31, 2018: Securities available for sale: Agency mortgage-backed securities $ 94,746 $ - $ 3,489 $ 91,257 Agency CMO 33,222 152 382 32,992 Other debt securities: Agency notes and bonds 75,461 59 1,016 74,504 Municipal obligations 63,008 651 571 63,088 Total securities available for sale $ 266,437 $ 862 $ 5,458 $ 261,841 The amortized cost and fair value of debt securities as of December 31, 2019, may may Securities Available for Sale Amortized Fair Cost Value (In thousands) Due in one year or less $ 21,972 $ 21,953 Due after one year through five years 50,908 51,476 Due after five years through ten years 29,551 30,750 Due after ten years 36,337 37,801 138,768 141,980 Mortgage-backed securities and CMO 113,051 112,582 $ 251,819 $ 254,562 At December 31, 2019, $53.4 $53.3 At December 31, 2019 2018, no one 10% Information pertaining to investment securities with gross unrealized losses at December 31, 2019 2018, Number of Gross Investment Fair Unrealized (Dollars in thousands) Positions Value Losses December 31, 2019: Continuous loss position less than twelve months: Agency mortgage-backed securities 5 $ 723 $ 2 Agency CMO 13 14,749 157 Agency notes and bonds 2 5,551 17 Municipal obligations 4 3,241 25 Total less than twelve months 24 24,264 201 Continuous loss position more than twelve months: Agency mortgage-backed securities 50 49,033 574 Agency CMO 15 7,113 64 Agency notes and bonds 10 37,706 62 Total more than twelve months 75 93,852 700 Total securities available for sale 99 $ 118,116 $ 901 Number of Gross Investment Fair Unrealized (Dollars in thousands) Positions Value Losses December 31, 2018: Continuous loss position less than twelve months: Agency mortgage-backed securities 1 $ 1,563 $ 13 Agency CMO 4 2,870 1 Agency notes and bonds 1 499 1 Municipal obligations 11 3,552 12 Total less than twelve months 17 8,484 27 Continuous loss position more than twelve months: Agency mortgage-backed securities 97 89,680 3,476 Agency CMO 24 12,168 381 Agency notes and bonds 22 67,927 1,015 Municipal obligations 49 25,316 559 Total more than twelve months 192 195,091 5,431 Total securities available for sale 209 $ 203,575 $ 5,458 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, 2019, 0.8% first no While management does not December 31, 2019, may During the year ended December 31, 2019, $22,000 $156,000 $13,000 December 31, 2018, $218,000 $313,000 December 31, 2017, $61,000 $7,000 Equity Securities In September 2018, 90,000 5% $1.9 December 31, 2019 2018, $32,000 $207,000, December 31, 2019 2018, $1.7 |
Note 4 - Loans and Allowance fo
Note 4 - Loans and Allowance for Loan Losses | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | ( 4 LOANS AND ALLOWANCE FOR LOAN LOSSES Loans at December 31, 2019 and 2018 consisted of the following: (In thousands) 2019 2018 Real estate mortgage loans: Residential $ 131,959 $ 136,445 Land 19,185 22,607 Residential construction 35,554 31,459 Commercial real estate 121,563 107,445 Commercial real estate construction 20,086 20,591 Commercial business loans 45,307 36,297 Consumer loans: Home equity and second mortgage loans 54,677 51,731 Automobile loans 46,443 42,124 Loans secured by deposits 1,372 1,399 Unsecured loans 3,653 3,638 Other consumer loans 13,700 10,169 Gross loans 493,499 463,905 Less undisbursed portion of loans in process (23,081 ) (26,675 ) Principal loan balance 470,418 437,230 Deferred loan origination fees and costs, net 1,137 1,095 Allowance for loan losses (5,061 ) (4,065 ) Loans, net $ 466,494 $ 434,260 At December 31, 2019 2018, $67,000 $70,000, At December 31, 2019 2018, 90% $2.3 $2.7 At December 31, 2019, no $111,000 December 31, 2018. 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, 2019 2018. (In thousands) 2019 2018 Beginning balance $ 7,867 $ 7,639 Adjustments due to officer and director changes - (205 ) New loans 5,271 1,971 Payments (3,618 ) (1,538 ) Ending balance $ 9,520 $ 7,867 Off-balance-sheet commitments (including commitments to make loans, unused lines of credit and letters of credit) to related parties at December 31, 2019 2018 $7.5 $2.6 The following table provides the components of the Company’s recorded investment in loans at December 31, 2019 2018: Residential Real Estate Land Construction Commercial Real Estate Commercial Business Home Equity and Second Mortgage Other Consumer Total (In thousands) December 31, 2019: Principal loan balance $ 131,959 $ 19,185 $ 32,559 $ 121,563 $ 45,307 $ 54,677 $ 65,168 $ 470,418 Accrued interest receivable 462 114 86 312 142 244 272 1,632 Net deferred loan origination fees and costs 118 15 (1 ) (62 ) - 1,067 - 1,137 Recorded investment in loans $ 132,539 $ 19,314 $ 32,644 $ 121,813 $ 45,449 $ 55,988 $ 65,440 $ 473,187 December 31, 2018: Principal loan balance $ 136,445 $ 22,607 $ 25,375 $ 107,445 $ 36,297 $ 51,731 $ 57,330 $ 437,230 Accrued interest receivable 475 119 76 265 120 247 228 1,530 Net deferred loan origination fees and costs 99 18 (9 ) (38 ) - 1,025 - 1,095 Recorded investment in loans $ 137,019 $ 22,744 $ 25,442 $ 107,672 $ 36,417 $ 53,003 $ 57,558 $ 439,855 An analysis of the allowance for loan losses and recorded investment in loans as of and for the year ended December 31, 2019 Residential Real Estate Land Construction Commercial Real Estate Commercial Business Home Equity and Second Mortgage Other Consumer Total (In thousands) Allowance for Loan Losses: Beginning balance $ 693 $ 162 $ 224 $ 1,401 $ 459 $ 443 $ 683 $ 4,065 Provisions 251 - 126 222 132 77 617 1,425 Charge-offs (194 ) - - - - (24 ) (548 ) (766 ) Recoveries 117 1 - - 4 19 196 337 Ending balance $ 867 $ 163 $ 350 $ 1,623 $ 595 $ 515 $ 948 $ 5,061 Ending allowance balance attributable to loans: Individually evaluated for impairment $ 16 $ - $ - $ - $ - $ - $ - $ 16 Collectively evaluated for impairment 839 163 350 1,623 595 515 948 5,033 Acquired with deteriorated credit quality 12 - - - - - - 12 Ending balance $ 867 $ 163 $ 350 $ 1,623 $ 595 $ 515 $ 948 $ 5,061 Recorded Investment in Loans: Individually evaluated for impairment $ 1,926 $ 115 $ - $ 353 $ 249 $ 56 $ 48 $ 2,747 Collectively evaluated for impairment 130,328 19,199 32,644 121,421 45,200 55,932 65,392 470,116 Acquired with deteriorated credit quality 285 - - 39 - - - 324 Ending balance $ 132,539 $ 19,314 $ 32,644 $ 121,813 $ 45,449 $ 55,988 $ 65,440 $ 473,187 An analysis of the allowance for loan losses and recorded investment in loans as of and for the year ended December 31, 2018 Residential Real Estate Land Construction Commercial Real Estate Commercial Business Home Equity and Second Mortgage Other Consumer Total (In thousands) Allowance for Loan Losses: Beginning balance $ 219 $ 133 $ 245 $ 1,622 $ 291 $ 710 $ 414 $ 3,634 Provisions 723 29 (21 ) (296 ) 218 (278 ) 793 1,168 Charge-offs (258 ) - - - (51 ) (21 ) (697 ) (1,027 ) Recoveries 9 - - 75 1 32 173 290 Ending balance $ 693 $ 162 $ 224 $ 1,401 $ 459 $ 443 $ 683 $ 4,065 Ending allowance balance attributable to loans: Individually evaluated for impairment $ 3 $ - $ - $ 44 $ 1 $ - $ - $ 48 Collectively evaluated for impairment 690 162 224 1,357 458 443 683 4,017 Acquired with deteriorated credit quality - - - - - - - - Ending balance $ 693 $ 162 $ 224 $ 1,401 $ 459 $ 443 $ 683 $ 4,065 Recorded Investment in Loans: Individually evaluated for impairment $ 2,184 $ 152 $ 521 $ 466 $ 427 $ 35 $ - $ 3,785 Collectively evaluated for impairment 134,553 22,592 24,921 107,158 35,990 52,968 57,558 435,740 Acquired with deteriorated credit quality 282 - - 48 - - - 330 Ending balance $ 137,019 $ 22,744 $ 25,442 $ 107,672 $ 36,417 $ 53,003 $ 57,558 $ 439,855 An analysis of the allowance for loan losses for the year ended December 31, 2017 Residential Real Estate Land Construction Commercial Real Estate Commercial Business Home Equity and Second Mortgage Other Consumer 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 At December 31, 2019 2018, not not $3.8 $3.1 December 31, 2019 2018, December 31, 2019 2018. Management also adjusts the historical loss factors for loans classified as watch, special mention and substandard that are not $386,000 $333,000 December 31, 2019 2018, The following table summarizes the Company’s impaired loans as of and for the year ended December 31, 2019. not December 31, 2019. Unpaid Average Interest Recorded Principal Related Recorded Income Investment Balance Allowance Investment Recognized (In thousands) Loans with no related allowance recorded: Residential real estate $ 1,737 $ 1,986 $ - $ 1,973 $ 17 Land 115 117 - 147 - Construction - - - 209 - Commercial real estate 353 352 1 446 33 Commercial business 249 257 - 330 11 Home equity and second mortgage 56 56 - 29 1 Other consumer 48 50 - 20 - $ 2,558 $ 2,818 $ - $ 3,154 $ 62 Loans with an allowance recorded: Residential real estate $ 189 $ 211 $ 16 $ 87 $ - Land - - - - - Construction - - - - - Commercial real estate - - - 81 - Commercial business - - - 58 - Home equity and second mortgage - - - 13 - Other consumer - - - - - $ 189 $ 211 $ 16 $ 239 $ - Total: Residential real estate $ 1,926 $ 2,197 $ 16 $ 2,060 $ 17 Land 115 117 - 147 - Construction - - - 209 - Commercial real estate 353 352 - 527 33 Commercial business 249 257 - 388 11 Home equity and second mortgage 56 56 - 42 1 Other consumer 48 50 - 20 - $ 2,747 $ 3,029 $ 16 $ 3,393 $ 62 The following table summarizes the Company’s impaired loans as of and for the year ended December 31, 2018. not December 31, 2018. Unpaid Average Interest Recorded Principal Related Recorded Income Investment Balance Allowance Investment Recognized (In thousands) Loans with no related allowance recorded: Residential real estate $ 2,170 $ 2,409 $ - $ 2,335 $ 23 Land 152 153 - 135 - Construction 521 521 - 104 - Commercial real estate 255 260 - 325 16 Commercial business 400 451 - 237 14 Home equity and second mortgage 35 44 - 57 1 Other consumer - - - 5 1 $ 3,533 $ 3,838 $ - $ 3,198 $ 55 Loans with an allowance recorded: Residential real estate $ 14 $ 15 $ 3 $ 203 $ - Land - - - - - Construction - - - - - Commercial real estate 211 213 44 42 - Commercial business 27 30 1 38 - Home equity and second mortgage - - - 5 - Other consumer - - -- - $ 252 $ 258 $ 48 $ 288 $ - Total: Residential real estate $ 2,184 $ 2,424 $ 3 $ 2,538 $ 23 Land 152 153 - 135 - Construction 521 521 - 104 - Commercial real estate 466 473 44 367 16 Commercial business 427 481 1 275 14 Home equity and second mortgage 35 44 - 62 1 Other consumer - - - 5 1 $ 3,785 $ 4,096 $ 48 $ 3,486 $ 55 The following table summarizes the Company’s impaired loans for the year ended December 31, 2017. not December 31, 2017. Average Interest Recorded Income Investment Recognized (In thousands) Loans with no related allowance recorded: Residential real estate $ 2,437 $ 28 Land - 2 Construction - - Commercial real estate 686 16 Commercial business 57 1 Home equity and second mortgage 194 1 Other consumer 4 - $ 3,378 $ 48 Loans with an allowance recorded: Residential real estate $ 140 $ - Land - - Construction - - Commercial real estate - - Commercial business 40 - Home equity and second mortgage 20 - Other consumer 14 - $ 214 $ - Total: Residential real estate $ 2,577 $ 28 Land - 2 Construction - - Commercial real estate 686 16 Commercial business 97 1 Home equity and second mortgage 214 1 Other consumer 18 - $ 3,592 $ 48 Nonperforming loans consists of nonaccrual loans and loans over 90 December 31, 2019 2018: December 31, 2019 December 31, 2018 Nonaccrual Loans Loans 90+ Days Past Due Still Accruing Total Nonperforming Loans Nonaccrual Loans Loans 90+ Days Past Due Still Accruing Total Nonperforming Loans (In thousands) Residential real estate $ 1,544 $ 13 $ 1,557 $ 1,769 $ - $ 1,769 Land 115 - 115 152 - 152 Construction - - - 521 - 521 Commercial real estate - - - 371 - 371 Commercial business 58 - 58 207 - 207 Home equity and second mortgage - - - 35 - 35 Other consumer 48 - 48 - 2 2 Total $ 1,765 $ 13 $ 1,778 $ 3,055 $ 2 $ 3,057 The following table presents the aging of the recorded investment in loans at December 31, 2019: 30-59 Days Past Due 60-89 Days Past Due Over 90 Days Past Due Total Past Due Current Purchased Credit Impaired Loans Total Loans (In thousands) Residential real estate $ 2,572 $ 824 $ 1,010 $ 4,406 $ 127,848 $ 285 $ 132,539 Land 185 101 80 366 18,948 - 19,314 Construction - - - - 32,644 - 32,644 Commercial real estate - 146 - 146 121,628 39 121,813 Commercial business 61 - 58 119 45,330 - 45,449 Home equity and second mortgage 395 256 - 651 55,337 - 55,988 Other consumer 504 66 - 570 64,870 - 65,440 Total $ 3,717 $ 1,393 $ 1,148 $ 6,258 $ 466,605 $ 324 $ 473,187 The following table presents the aging of the recorded investment in loans at December 31, 2018: 30-59 Days Past Due 60-89 Days Past Due Over 90 Days Past Due Total Past Due Current Purchased Credit Impaired Loans Total Loans (In thousands) Residential real estate $ 2,617 $ 926 $ 1,189 $ 4,732 $ 132,005 $ 282 $ 137,019 Land 247 39 152 438 22,306 - 22,744 Construction - - - - 25,442 - 25,442 Commercial real estate 450 - - 450 107,174 48 107,672 Commercial business 377 - 145 522 35,895 - 36,417 Home equity and second mortgage 191 - 35 226 52,777 - 53,003 Other consumer 491 50 2 543 57,015 - 57,558 Total $ 4,373 $ 1,015 $ 1,523 $ 6,911 $ 432,614 $ 330 $ 439,855 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/Nonaccrual: Loss: not Loans not The following table presents the recorded investment in loans by risk category as of the date indicated: Residential Real Estate Land Construction Commercial Real Estate Commercial Business Home Equity and Second Mortgage Other Consumer Total (In thousands) December 31, 2019: Pass $ 129,613 $ 18,805 $ 32,394 $ 119,469 $ 44,879 $ 55,569 $ 65,320 $ 466,049 Special mention 46 327 250 1,136 378 - 72 2,209 Substandard 1,336 67 - 1,208 134 419 - 3,164 Doubtful/Nonaccrual 1,544 115 - - 58 - 48 1,765 Loss - - - - - - - - Total $ 132,539 $ 19,314 $ 32,644 $ 121,813 $ 45,449 $ 55,988 $ 65,440 $ 473,187 December 31, 2018: Pass $ 133,878 $ 22,458 $ 24,921 $ 104,843 $ 35,162 $ 52,859 $ 57,529 $ 431,650 Special mention 133 65 - 1,520 763 - 29 2,510 Substandard 1,168 69 - 938 285 109 - 2,569 Doubtful/Nonaccrual 1,840 152 521 371 207 35 - 3,126 Loss - - - - - - - - Total $ 137,019 $ 22,744 $ 25,442 $ 107,672 $ 36,417 $ 53,003 $ 57,558 $ 439,855 Troubled Debt Restructurings The following table summarizes the Company’s TDRs by accrual status as of December 31, 2019 2018: December 31, 2019 December 31, 2018 Accruing Nonaccrual Total Related Allowance for Loan Losses Accruing Nonaccrual Total Related Allowance for Loan Losses (In thousands) Residential real estate $ 367 $ 66 $ 433 $ - $ 295 $ 302 $ 597 $ - Commercial real estate 553 - 553 - 190 371 561 44 Commercial business 191 - 191 - 218 - 218 - Home equity and second mortgage 55 - 55 - - - - - Total $ 1,166 $ 66 $ 1,232 $ - $ 703 $ 673 $ 1,376 $ 44 At December 31, 2019 2018, no The Company restructured two one one December 31, 2019, $225,000, $154,000 $56,000, two one one December 31, 2018, $234,000, $94,000 $241,000, one December 31, 2017, $65,000. 2019, 2018 2017, no December 31, 2019, 2018 2017. The Company had no 90 12 December 31, 2019, 2018 2017. may may not December 31, 2019, 2018 2017. 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, 2019 2018: (In thousands) 2019 2018 Residential real estate $ 285 $ 282 Commercial real estate 39 48 Carrying amount 324 330 Allowance for loan losses 12 - $ 312 $ 330 The outstanding balance of PCI loans accounted for under FASB ASC 310 30, $466,000 $519,000 December 31, 2019 2018, The allowance for loan losses related to PCI loans was $12,000 December 31, 2019. no December 31, 2018. $12,000 December 31, 2019. $2,000 December 31, 2018. $2,000 December 31, 2017. Accretable yield, or income expected to be collected, is as follows for the years ended December 31, 2019, 2018 2017: (In thousands) 2019 2018 2017 Beginning balance $ 423 $ 470 $ 252 New loans acquired - - - Accretion to income (46 ) (54 ) (55 ) Disposals and other adjustments - (32 ) (21 ) Reclassification from nonaccretable difference 26 42 294 Ending balance $ 403 $ 423 $ 470 |
Note 5 - Premises and Equipment
Note 5 - Premises and Equipment | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | ( 5 PREMISES AND EQUIPMENT Premises and equipment as of December 31, 2019 2018 (In thousands) 2019 2018 Land and land improvements $ 5,297 $ 5,297 Leasehold improvements 134 134 Office buildings 16,124 14,028 Furniture, fixtures and equipment 6,689 6,135 28,244 25,594 Less accumulated depreciation 11,830 11,230 Totals $ 16,414 $ 14,364 Depreciation expense was $923,000, $1.1 $1.1 December 31, 2019, 2018 2017, |
Note 6 - Foreclosed Real Estate
Note 6 - Foreclosed Real Estate | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Real Estate Disclosure [Text Block] | ( 6 FORECLOSED REAL ESTATE Foreclosed real estate activity was as follows for the years ended December 31, 2019, 2018 2017: (In thousands) 2019 2018 2017 Beginning balance $ 3,142 $ 3,971 $ 4,674 Transfers from loans to foreclosed real estate 311 142 555 Direct write-downs (284 ) (419 ) (263 ) Sales (3,002 ) (558 ) (1,023 ) Capitalized expenses and other adjustments 3 6 28 Ending balance $ 170 $ 3,142 $ 3,971 Net loss on foreclosed real estate was as follows for the years ended December 31, 2019, 2018 2017: (In thousands) 2019 2018 2017 Net (gain) loss on sales $ (114 ) $ 23 $ (3 ) Direct write-downs 284 419 263 Operating expenses, net of income 129 34 56 $ 299 $ 476 $ 316 At December 31, 2019 2018, $170,000 $33,000, December 31, 2019 2018, $319,000 $365,000, |
Note 7 - Goodwill and Other Int
Note 7 - Goodwill and Other Intangibles | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | ( 7 GOODWILL AND OTHER INTANGIBLES The Company acquired goodwill of $1.1 2015 $5.4 2003. No 2019, 2018 2017. The Company acquired a core deposit intangible of $1.4 2015. $147,000 2019, 2018 2017. Core deposit intangibles subject to amortization as of December 31, 2019 2018 (In thousands) 2019 2018 Core deposit intangible acquired in Peoples acquisition $ 1,418 $ 1,418 Less accumulated amortization 599 452 $ 819 $ 966 Estimated amortization expense for the core deposit intangible for each of the ensuing five Years ending December 31: (In thousands) 2020 $ 147 2021 147 2022 147 2023 147 2024 147 2025 and thereafter 84 Total $ 819 |
Note 8 - Deposits
Note 8 - Deposits | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Deposits Assets Disclosure Noncurrent [Text Block] | ( 8 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 $5.8 $4.0 December 31, 2019 2018, At December 31, 2019, Year ending December 31: (In thousands) 2020 $ 33,861 2021 17,117 2022 6,747 2023 6,009 2024 5,122 Total $ 68,856 The Bank held deposits of approximately $13.3 $13.8 December 31, 2019 2018, |
Note 9 - Lines of Credit
Note 9 - Lines of Credit | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | ( 9 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, 2019 2018, no The Bank also has a $2.0 December 31, 2019 2018, no |
Note 10 - Advances from Federal
Note 10 - Advances from Federal Home Loan Bank | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Federal Home Loan Bank Advances, Disclosure [Text Block] | ( 10 ADVANCES FROM FEDERAL HOME LOAN BANK There were no December 31, 2019 2018. December 31, 2019, $69.7 |
Note 11 - Lease Commitments
Note 11 - Lease Commitments | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | ( 11 LEASE COMMITMENTS During 2015, March 2020 $19,000. December 31, 2019, $5,000 2020. 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 $58,000, $93,000 $98,000 December 31, 2019, 2018 2017, |
Note 12 - Income Taxes
Note 12 - Income Taxes | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | ( 12 INCOME TAXES The Company and its corporate subsidiaries file consolidated tax returns. The components of consolidated income tax expense for the years ended December 31, 2019, 2018 2017 (In thousands) 2019 2018 2017 Current $ 1,505 $ 1,789 $ 2,755 Deferred 482 (395 ) 348 Totals $ 1,987 $ 1,394 $ 3,103 The reconciliation of income tax expense with the amount which would have been provided at the federal statutory rate of 21% December 31, 2019 2018 34% December 31, 2017, (In thousands) 2019 2018 2017 Provision at federal statutory tax rate $ 2,588 $ 2,239 $ 3,589 State income tax-net of federal tax benefit 121 100 91 Revaluation of net deferred tax asset due to change in federal income tax rate - - 290 Tax-exempt interest income (379 ) (328 ) (507 ) Bank-owned life insurance income (44 ) (67 ) (73 ) Captive insurance net premiums (209 ) (195 ) (290 ) Investment in tax credit entities (114 ) (272 ) - Other 24 (83 ) 3 Totals $ 1,987 $ 1,394 $ 3,103 Effective tax rate 16.1 % 13.1 % 29.4 % Significant components of the deferred tax assets and liabilities as of December 31, 2019 2018 (In thousands) 2019 2018 Deferred tax assets (liabilities): Deferred compensation plans $ 101 $ 115 Allowance for loan losses 1,122 855 Unrealized loss on securities available for sale - 1,118 Unrealized loss on equity securities 42 49 Restricted stock 48 31 Valuation allowance on foreclosed real estate - 174 Interest on nonaccrual loans 185 215 Other 21 39 Deferred tax assets 1,519 2,596 Unrealized gain on securities available for sale (601 ) - Depreciation (691 ) (491 ) Deferred loan fees and costs (247 ) (246 ) FHLB stock dividends (35 ) (36 ) Prepaid expenses (276 ) (232 ) Acquisition purchase accounting adjustments (419 ) (125 ) Other (8 ) (23 ) Deferred tax liabilities (2,277 ) (1,153 ) Net deferred tax asset (liability) $ (758 ) $ 1,443 The Tax Cuts and Jobs Act (“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. At December 31, 2019 2018, no not twelve not December 31, 2016 Retained earnings of the Bank at December 31, 2019 2018 $909,000 no December 31, 1987 $191,000 December 31, 2019 2018. |
Note 13 - Employee Benefit Plan
Note 13 - Employee Benefit Plans | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Compensation and Employee Benefit Plans [Text Block] | ( 13 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 $574,000, $520,000 $478,000 December 31, 2019, 2018 2017, 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, 2019, 2018 2017 2008. At December 31, 2019 2018, 52,200 52,455 |
Note 14 - Deferred Compensation
Note 14 - Deferred Compensation Plans | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Deferred Compensation Plans Disclosure [Text Block] | ( 14 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 $259,000 $296,000 December 31, 2019 2018, $15,000, $17,000 $19,000 December 31, 2019, 2018 2017, 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. $148,000 $153,000 December 31, 2019 2018, $17,000, $18,000 $19,000 December 31, 2019, 2018 2017, |
Note 15 - Stock-based Compensat
Note 15 - Stock-based Compensation Plan | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | ( 15 STOCK-BASED COMPENSATION PLAN On May 20, 2009, 2009 “2009 May 20, 2019. 2009 2009 not 223,000 176,150 2009 On May 22, 2019, 2019 “2019 2019 2019 may not 176,150 2009 not 2019 no 2009 2009 At December 31, 2019, 176,150 2019 may may not ten may first not $100,000. may not 2019 may 2019 2019 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, 2019, no On February 19, 2019, 9,750 2009 $52.09 $508,000. July 1, 2024, 20% July 1 July 1, 2020. February 20, 2018, 20,000 2009 $37.42 $748,000. July 1, 2023, 20% July 1 July 1, 2019. February 17, 2015, 19,500 2009 $24.50 $478,000. five December 31, 2019, 2018 2017 $288,000, $192,000 $89,000, December 31, 2019 Weighted Number Average of Grant-Date Shares Fair Value Nonvested at beginning of year 24,900 $ 34.10 Granted 9,750 52.09 Vested (6,900 ) 31.43 Forfeited - - Nonvested at end of year 27,750 $ 41.08 There were 6,900, 4,200 3,500 December 31, 2019, 2018 2017, December 31, 2019, 2018 2017 $353,000, $171,000 $109,000, December 31, 2019, $940,000. 3.8 On February 18, 2020, 14,250 $67.43 $961,000, five |
Note 16 - Commitments and Conti
Note 16 - Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | ( 16 COMMITMENTS AND CONTINGENCIES In the normal course of business, there are outstanding commitments, contingent liabilities and other financial instruments that are not 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, 2019 2018: (In thousands) 2019 2018 Loan commitments: Fixed rate $ 3,250 $ 4,946 Adjustable rate 10,996 930 Standby letters of credit 473 1,295 Unused lines of credit on credit cards 6,915 6,641 Undisbursed commercial and personal lines of credit 26,800 26,862 Undisbursed portion of construction loans in process 23,081 26,675 Undisbursed portion of home equity lines of credit 50,010 47,079 $ 121,525 $ 114,428 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 17 - Dividend Restriction
Note 17 - Dividend Restriction | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Dividend Restrictions [Text Block] | ( 17 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 banking regulations and applicable Indiana state law. The amount of dividends that the Bank may two may not December 31, 1998. |
Note 18 - Regulatory Matters
Note 18 - Regulatory Matters | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | ( 18 REGULATORY MATTERS The Bank is subject to various regulatory capital requirements administered by the banking regulators. 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, January 1, 2019. 0.0% 2015 2.5% 2019. 1.875% 2018 2.5% 2019. December 31, 2019 2018. As of December 31, 2019, 1 1 1 no The Bank’s actual capital amounts and ratios are presented in the following table. No Minimum Minimum for Capital to be Well Adequacy Purposes Capitalized under with Capital Prompt Corrective Actual Conservation Buffer: Action Provisions: (Dollars in thousands) Amount Ratio Amount Ratio Amount Ratio As of December 31, 2019: Total capital (to risk weighted assets) $ 86,662 14.90 % $ 61,078 10.50 % $ 58,169 10.00 % Tier 1 capital (to risk weighted assets) $ 81,601 14.03 % $ 49,444 8.50 % $ 46,536 8.00 % Common equity Tier 1 capital (to risk weighted assets) $ 81,601 14.03 % $ 40,719 7.00 % $ 37,810 6.50 % Tier 1 capital (to average assets) $ 81,601 10.01 % $ 32,599 4.00 % $ 40,749 5.00 % As of December 31, 2018: Total capital (to risk weighted assets) $ 79,406 14.62 % $ 53,626 9.875 % $ 54,304 10.00 % Tier 1 capital (to risk weighted assets) $ 75,341 13.87 % $ 42,765 7.875 % $ 43,444 8.00 % Common equity Tier 1 capital (to risk weighted assets) $ 75,341 13.87 % $ 34,619 6.375 % $ 35,298 6.50 % Tier 1 capital (to average assets) $ 75,341 9.57 % $ 31,478 4.000 % $ 39,347 5.00 % |
Note 19 - Fair Value Measuremen
Note 19 - Fair Value Measurements | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | ( 19 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, 2019. no December 31, 2019. Carrying Value Level 1 Level 2 Level 3 Total (In thousands) December 31, 2019: Assets Measured on a Recurring Basis Securities available for sale: Agency mortgage-backed securities $ - $ 69,498 $ - $ 69,498 Agency CMO - 43,084 - 43,084 Agency notes and bonds - 64,556 - 64,556 Municipal obligations - 77,424 - 77,424 Total securities available for sale $ - $ 254,562 $ - $ 254,562 Equity securities $ 1,746 $ - $ - $ 1,746 Assets Measured on a Nonrecurring Basis Impaired loans: Residential real estate $ - $ - $ 1,910 $ 1,910 Land - - 115 115 Commercial real estate - - 353 353 Commercial business - - 249 249 Home equity and second mortgage - - 56 56 Other consumer - - 48 48 Total impaired loans $ - $ - $ 2,731 $ 2,731 Loans held for sale $ - $ 4,176 $ - $ 4,176 Foreclosed real estate: Residential real estate - - $ 170 $ 170 Total foreclosed real estate $ - $ - $ 170 $ 170 The table below presents the balances of assets measured at fair value on a recurring and nonrecurring basis as of December 31, 2018. no December 31, 2018. Carrying Value Level 1 Level 2 Level 3 Total (In thousands) December 31, 2018: Assets Measured on a Recurring Basis Securities available for sale: Agency mortgage-backed securities $ - $ 91,257 $ - $ 91,257 Agency CMO - 32,992 - 32,992 Agency notes and bonds - 74,504 - 74,504 Municipal obligations - 63,088 - 63,088 Total securities available for sale $ - $ 261,841 $ - $ 261,841 Equity securities $ 1,715 $ - $ - $ 1,715 Assets Measured on a Nonrecurring Basis Impaired loans: Residential real estate $ - $ - $ 2,181 $ 2,181 Land - - 152 152 Construction - - 521 521 Commercial real estate - - 422 422 Commercial business - - 426 426 Home equity and second mortgage - - 35 35 Total impaired loans $ - $ - $ 3,737 $ 3,737 Loans held for sale $ - $ 2,849 $ - $ 2,849 Foreclosed real estate: Residential real estate $ - $ - $ 33 $ 33 Commercial real estate - - 3,109 3,109 Total foreclosed real estate $ - $ - $ 3,142 $ 3,142 Securities Available for Sale and Equity Securities . 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, 2019 2018, may At December 31, 2019, 40% 66%, 47%. December 31, 2018, 20% 62%, 39%. The Company recognized provisions for loan losses of $22,000, $231,000 $39,000 December 31, 2019, 2018 2017, 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, 2019, 38%. December 31, 2018, 10% 79%, 51%. The Company recognized charges of $284,000, $419,000 $263,000 December 31, 2019, 2018 2017, Transfers between Categories no December 31, 2019 2018. no 3 December 31, 2019 2018. no 1 2 December 31, 2019 2018. |
Note 20 - Disclosures About Fai
Note 20 - Disclosures About Fair Value of Financial Instruments | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Fair Value Measurements and Financial Instruments Disclosure [Text Block] | ( 20 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 19 December 31, 2019 2018: Fair Value Measurements Using (In thousands) Carrying Fair Level 1 Level 2 Level 3 December 31, 2019: Financial assets: Cash and cash equivalents $ 51,360 $ 51,360 $ 51,360 $ - $ - Interest-bearing time deposits 6,490 6,654 - 6,654 - Securities available for sale 254,562 254,562 - 254,562 Loans held for sale 4,176 4,243 - 4,243 - Loans, net 466,694 482,119 - - 482,119 FHLB and other restricted stock 1,988 N/A N/A N/A N/A Accrued interest receivable 3,076 3,076 - 3,076 - Equity securities (included in other assets) 1,746 1,746 1,746- - Financial liabilities: Deposits 722,177 721,729 - - 721,729 Accrued interest payable 210 210 - 210 - December 31, 2018: Financial assets: Cash and cash equivalents $ 41,112 $ 41,112 $ 41,112 $ - $ - Interest-bearing time deposits 7,710 7,650 - 7,650 - Securities available for sale 261,841 261,841 261,841 Loans held for sale 2,849 2,900 -- 2,900 - Loans, net 434,260 427,200 - - 427,200 FHLB and other restricted stock 1,988 N/A N/A N/A N/A Accrued interest receivable 2,828 2,828 - 2,828 - Equity securities (included in other assets) 1,715 1,715 1,715 - - Financial liabilities: Deposits 701,646 699,864 - - 699,864 Accrued interest payable 150 150 - 150 - 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 16, |
Note 21 - Revenue From Contract
Note 21 - Revenue From Contracts With Customers | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | ( 21 REVENUE FROM CONTRACTS WITH CUSTOMERS Substantially all of the Company’s revenue from contracts with customers in the scope of FASB ASC 606 606 December 31, 2019, 2018 2017: (In thousands) 2019 2018 2017 Service charges on deposit accounts $ 2,088 $ 2,177 $ 2,098 ATM and debit card fees 2,812 2,564 2,329 Investment advisory income 504 386 416 Other 124 128 123 Revenue from contracts with customers 5,528 5,255 4,966 Net gains on loans and investments 1,076 528 1,439 Increase in cash value of life insurance 211 227 197 Other 111 158 96 Other noninterest income 1,398 913 1,732 Total noninterest income $ 6,926 $ 6,168 $ 6,698 Net (gain) loss on sales of foreclosed real estate $ (114 ) $ 23 $ (3 ) A description of the Company’s revenue streams accounted for under FASB ASC 606 Service Charges on Deposit Accounts ATM and Debit Card Fees Investment Advisory Income Other Income Gains and Losses on Sales of Foreclosed Real Estate |
Note 22 - Qualified Affordable
Note 22 - Qualified Affordable Housing Project Investment | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Investment [Text Block] | ( 22 QUALIFIED AFFORDABLE HOUSING PROJECT INVESTMENT On January 19, 2018, December 31, 2019 2018, $3.2 $3.6 December 31, 2019 2018 $1.9 $2.9 2029. The investment is accounted for using the proportional amortization method. During 2019 2018, $361,000 $329,000, 2019 2018, $497,000 $393,000, |
Note 23 - Parent Company Conden
Note 23 - Parent Company Condensed Financial Information | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Condensed Financial Information of Parent Company Only Disclosure [Text Block] | ( 23 PARENT COMPANY CONDENSED FINANCIAL INFORMATION Condensed financial information for the Company (parent company only) follows: Balance Sheets (In thousands) As of December 31, 2019 2018 Assets: Cash and cash equivalents $ 3,847 $ 2,845 Other assets 2,110 2,039 Investment in subsidiaries 92,879 80,960 $ 98,836 $ 85,844 Liabilities and Equity: Accrued expenses $ - $ - Stockholders' equity 98,836 85,844 $ 98,836 $ 85,844 Statements of Income (In thousands) Years Ended December 31, 2019 2018 2017 Dividend income from subsidiaries $ 4,450 $ 6,297 $ 4,175 Other income 59 16 4 Income (loss) on equity securities 32 (207 ) - Other operating expenses (714 ) (587 ) (383 ) Income before income taxes and equity in undistributed net income of subsidiaries 3,827 5,519 3,796 Income tax benefit 199 210 147 Income before equity in undistributed net income of subsidiaries 4,026 5,729 3,943 Equity in undistributed net income of subsidiaries 6,299 3,524 3,496 Net income $ 10,325 $ 9,253 $ 7,439 Statements of Cash Flows (In thousands) Years Ended December 31, 2019 2018 2017 Operating Activities: Net income $ 10,325 $ 9,253 $ 7,439 Adjustments to reconcile net income to cash and cash equivalents provided by operating activities: Equity in undistributed net income of subsidiaries (6,299 ) (3,524 ) (3,496 ) Stock compensation expense 288 192 88 Unrealized (gain) loss on equity securities (32 ) 207 - Net change in other assets and liabilities (40 ) (89 ) (20 ) Net cash provided by operating activities 4,242 6,039 4,011 Investing Activities: Purchase of equity investment - (1,922 ) - Net cash used in investing activities - (1,922 ) - Financing Activities: Purchase of treasury stock (2 ) (32 ) (16 ) Taxes paid on stock award shares for employees (42 ) (2 ) (2 ) Cash dividends paid (3,196 ) (3,088 ) (2,870 ) Net cash used in financing activities (3,240 ) (3,122 ) (2,888 ) Net increase in cash and cash equivalents 1,002 995 1,123 Cash and cash equivalents at beginning of year 2,845 1,850 727 Cash and cash equivalents at end of year $ 3,847 $ 2,845 $ 1,850 |
Note 24 - Supplemental Disclosu
Note 24 - Supplemental Disclosure of Cash Flow Information | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Cash Flow, Supplemental Disclosures [Text Block] | ( 24 SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION Years Ended December 31, (In thousands) 2019 2018 2017 Cash payments for: Interest $ 1,900 $ 1,570 $ 1,466 Income taxes (net of refunds received) 1,367 1,611 3,010 Noncash investing activities: Transfers from loans to foreclosed real estate $ 311 $ 142 $ 555 Proceeds from sales of foreclosed real estate financed through loans - - 15 |
Note 25 - Supplemental Disclosu
Note 25 - Supplemental Disclosure for Earnings Per Share | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | ( 25 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, 2019, 2018 2017. (In thousands, except share and per share data) Years Ended December 31, 2019 2018 2017 Basic: Net income attributable to First Capital, Inc. $ 10,325 $ 9,253 $ 7,439 Shares: Weighted average common shares outstanding 3,332,869 3,328,422 3,325,032 Net income per common share attributable to First Capital, Inc., basic $ 3.10 $ 2.78 $ 2.24 Diluted: Net income attributable to First Capital, Inc. $ 10,325 $ 9,253 $ 7,439 Shares: Weighted average common shares outstanding 3,332,869 3,328,422 3,325,032 Add: Dilutive effect of restricted stock 11,203 6,972 4,531 Weighted average common shares outstanding, as adjusted 3,344,072 3,335,394 3,329,563 Net income per common share attributable to First Capital, Inc., diluted $ 3.09 $ 2.77 $ 2.23 Nonvested restricted stock shares are not No December 31, 2019, 2018 2017. |
Note 26 - Selected Quarterly Fi
Note 26 - Selected Quarterly Financial Information (Unaudited) | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Quarterly Financial Information [Text Block] | ( 26 SELECTED QUARTERLY FINANCIAL INFORMATION (UNAUDITED) First Second Third Fourth 2019 (In thousands, except per share data) Interest income $ 7,658 $ 8,219 $ 8,220 $ 7,957 Interest expense 456 491 503 510 Net interest income 7,202 7,728 7,717 7,447 Provision for loan losses 450 300 225 450 Net interest income after provision for loan losses 6,752 7,428 7,492 6,997 Noninterest income 1,505 1,768 1,833 1,820 Noninterest expenses 5,665 5,764 5,870 5,971 Income before income taxes 2,592 3,432 3,455 2,846 Income tax expense 442 568 537 440 Net income 2,150 2,864 2,918 2,406 Less: net income attributable to noncontrolling interest in subsidiary 3 4 3 3 Net income attributable to First Capital, Inc. $ 2,147 $ 2,860 $ 2,915 $ 2,403 Earnings per common share attributable to First Capital, Inc.: Basic $ 0.64 $ 0.86 $ 0.87 $ 0.72 Diluted $ 0.64 $ 0.86 $ 0.87 $ 0.72 2018 Interest income $ 6,764 $ 7,063 $ 7,433 $ 7,626 Interest expense 342 395 424 450 Net interest income 6,422 6,668 7,009 7,176 Provision for loan losses 197 316 455 200 Net interest income after provision for loan losses 6,225 6,352 6,554 6,976 Noninterest income 1,526 1,736 1,698 1,208 Noninterest expenses 5,254 5,697 5,195 5,469 Income before income taxes 2,497 2,391 3,057 2,715 Income tax expense 361 287 530 216 Net income 2,136 2,104 2,527 2,499 Less: net income attributable to noncontrolling interest in subsidiary 3 4 3 3 Net income attributable to First Capital, Inc. $ 2,133 $ 2,100 $ 2,524 $ 2,496 Earnings per common share attributable to First Capital, Inc.: Basic $ 0.64 $ 0.63 $ 0.76 $ 0.75 Diluted $ 0.64 $ 0.63 $ 0.76 $ 0.75 First Second Third Fourth 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 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2019 | |
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. Declines in the fair value of individual available for sale 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 Equity Securities: FHLB Stock: may |
Financing Receivable [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. 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. 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 loans not five Management also applies additional loss factor multiples to loans classified as watch, special mention and substandard that are not 4 December 31, 2019 2018. 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, 2019 2018. 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 uncollectibility of a portion of the loan has been confirmed, such as when a loan is discharged in bankruptcy, the collateral is liquidated, a loan is restructured at a reduced principal balance, or other identifiable events that lead management to determine the full principal balance of the loan will not not Consumer loans not 90 45 |
Financing Receivable, Held-for-sale [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, 2019, no |
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. |
Financing Receivable, Real Estate Acquired Through Foreclosure [Policy Text Block] | Foreclosed Real Estate Foreclosed real estate includes formally foreclosed property and property obtained via a deed in lieu of foreclosure that is currently held for sale. At the time of acquisition, 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 acquisition, 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 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 Payment Arrangement [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 Cost [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 (loss) on sale of available for sale 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 February 2016, No. 2016 02, Leases (Topic 842 12 not December 15, 2018, July 2018, No. 2018 11, Leases (Topic 842 2018 11 January 1, 2019 not not In June 2016, No. 2016 13, Financial Instruments – Credit Losses (Topic 326 December 15, 2019, one 2016 13, In November 2019, No. 2019 10 2016 13 December 15, 2022, December 15, 2018, In March 2017, No. 2017 08, Receivables – Nonrefundable Fees and Other Costs (Subtopic 310 20 not December 15, 2018. January 1, 2019 not In August 2018, No. 2018 13, Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement no 1 2 3 3 December 15, 2019. not |
Note 3 - Investment Securities
Note 3 - Investment Securities (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Marketable Securities [Table Text Block] | Gross Amortized Cost Gross Unrealized Gains December 31, 2019: Securities available for sale: Agency mortgage-backed securities $ 69,984 $ 90 $ 576 $ 69,498 Agency CMO 43,067 238 221 43,084 Other debt securities: Agency notes and bonds 64,162 473 79 64,556 Municipal obligations 74,606 2,843 25 77,424 Total securities available for sale $ 251,819 $ 3,644 $ 901 $ 254,562 December 31, 2018: Securities available for sale: Agency mortgage-backed securities $ 94,746 $ - $ 3,489 $ 91,257 Agency CMO 33,222 152 382 32,992 Other debt securities: Agency notes and bonds 75,461 59 1,016 74,504 Municipal obligations 63,008 651 571 63,088 Total securities available for sale $ 266,437 $ 862 $ 5,458 $ 261,841 |
Investments Classified by Contractual Maturity Date [Table Text Block] | Securities Available for Sale Amortized Fair Cost Value (In thousands) Due in one year or less $ 21,972 $ 21,953 Due after one year through five years 50,908 51,476 Due after five years through ten years 29,551 30,750 Due after ten years 36,337 37,801 138,768 141,980 Mortgage-backed securities and CMO 113,051 112,582 $ 251,819 $ 254,562 |
Schedule of Unrealized Loss on Investments [Table Text Block] | Number of Gross Investment Fair Unrealized (Dollars in thousands) Positions Value Losses December 31, 2019: Continuous loss position less than twelve months: Agency mortgage-backed securities 5 $ 723 $ 2 Agency CMO 13 14,749 157 Agency notes and bonds 2 5,551 17 Municipal obligations 4 3,241 25 Total less than twelve months 24 24,264 201 Continuous loss position more than twelve months: Agency mortgage-backed securities 50 49,033 574 Agency CMO 15 7,113 64 Agency notes and bonds 10 37,706 62 Total more than twelve months 75 93,852 700 Total securities available for sale 99 $ 118,116 $ 901 Number of Gross Investment Fair Unrealized (Dollars in thousands) Positions Value Losses December 31, 2018: Continuous loss position less than twelve months: Agency mortgage-backed securities 1 $ 1,563 $ 13 Agency CMO 4 2,870 1 Agency notes and bonds 1 499 1 Municipal obligations 11 3,552 12 Total less than twelve months 17 8,484 27 Continuous loss position more than twelve months: Agency mortgage-backed securities 97 89,680 3,476 Agency CMO 24 12,168 381 Agency notes and bonds 22 67,927 1,015 Municipal obligations 49 25,316 559 Total more than twelve months 192 195,091 5,431 Total securities available for sale 209 $ 203,575 $ 5,458 |
Note 4 - Loans and Allowance _2
Note 4 - Loans and Allowance for Loan Losses (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | Loans at December 31, 2019 and 2018 consisted of the following: (In thousands) 2019 2018 Real estate mortgage loans: Residential $ 131,959 $ 136,445 Land 19,185 22,607 Residential construction 35,554 31,459 Commercial real estate 121,563 107,445 Commercial real estate construction 20,086 20,591 Commercial business loans 45,307 36,297 Consumer loans: Home equity and second mortgage loans 54,677 51,731 Automobile loans 46,443 42,124 Loans secured by deposits 1,372 1,399 Unsecured loans 3,653 3,638 Other consumer loans 13,700 10,169 Gross loans 493,499 463,905 Less undisbursed portion of loans in process (23,081 ) (26,675 ) Principal loan balance 470,418 437,230 Deferred loan origination fees and costs, net 1,137 1,095 Allowance for loan losses (5,061 ) (4,065 ) Loans, net $ 466,494 $ 434,260 |
Schedule of Related Party Transactions [Table Text Block] | (In thousands) 2019 2018 Beginning balance $ 7,867 $ 7,639 Adjustments due to officer and director changes - (205 ) New loans 5,271 1,971 Payments (3,618 ) (1,538 ) Ending balance $ 9,520 $ 7,867 |
Financing Receivable, Current, Allowance for Credit Loss [Table Text Block] | Residential Real Estate Land Construction Commercial Real Estate Commercial Business Home Equity and Second Mortgage Other Consumer Total (In thousands) Allowance for Loan Losses: Beginning balance $ 693 $ 162 $ 224 $ 1,401 $ 459 $ 443 $ 683 $ 4,065 Provisions 251 - 126 222 132 77 617 1,425 Charge-offs (194 ) - - - - (24 ) (548 ) (766 ) Recoveries 117 1 - - 4 19 196 337 Ending balance $ 867 $ 163 $ 350 $ 1,623 $ 595 $ 515 $ 948 $ 5,061 Ending allowance balance attributable to loans: Individually evaluated for impairment $ 16 $ - $ - $ - $ - $ - $ - $ 16 Collectively evaluated for impairment 839 163 350 1,623 595 515 948 5,033 Acquired with deteriorated credit quality 12 - - - - - - 12 Ending balance $ 867 $ 163 $ 350 $ 1,623 $ 595 $ 515 $ 948 $ 5,061 Recorded Investment in Loans: Individually evaluated for impairment $ 1,926 $ 115 $ - $ 353 $ 249 $ 56 $ 48 $ 2,747 Collectively evaluated for impairment 130,328 19,199 32,644 121,421 45,200 55,932 65,392 470,116 Acquired with deteriorated credit quality 285 - - 39 - - - 324 Ending balance $ 132,539 $ 19,314 $ 32,644 $ 121,813 $ 45,449 $ 55,988 $ 65,440 $ 473,187 Residential Real Estate Land Construction Commercial Real Estate Commercial Business Home Equity and Second Mortgage Other Consumer Total (In thousands) Allowance for Loan Losses: Beginning balance $ 219 $ 133 $ 245 $ 1,622 $ 291 $ 710 $ 414 $ 3,634 Provisions 723 29 (21 ) (296 ) 218 (278 ) 793 1,168 Charge-offs (258 ) - - - (51 ) (21 ) (697 ) (1,027 ) Recoveries 9 - - 75 1 32 173 290 Ending balance $ 693 $ 162 $ 224 $ 1,401 $ 459 $ 443 $ 683 $ 4,065 Ending allowance balance attributable to loans: Individually evaluated for impairment $ 3 $ - $ - $ 44 $ 1 $ - $ - $ 48 Collectively evaluated for impairment 690 162 224 1,357 458 443 683 4,017 Acquired with deteriorated credit quality - - - - - - - - Ending balance $ 693 $ 162 $ 224 $ 1,401 $ 459 $ 443 $ 683 $ 4,065 Recorded Investment in Loans: Individually evaluated for impairment $ 2,184 $ 152 $ 521 $ 466 $ 427 $ 35 $ - $ 3,785 Collectively evaluated for impairment 134,553 22,592 24,921 107,158 35,990 52,968 57,558 435,740 Acquired with deteriorated credit quality 282 - - 48 - - - 330 Ending balance $ 137,019 $ 22,744 $ 25,442 $ 107,672 $ 36,417 $ 53,003 $ 57,558 $ 439,855 Residential Real Estate Land Construction Commercial Real Estate Commercial Business Home Equity and Second Mortgage Other Consumer 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 |
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 $ 1,737 $ 1,986 $ - $ 1,973 $ 17 Land 115 117 - 147 - Construction - - - 209 - Commercial real estate 353 352 1 446 33 Commercial business 249 257 - 330 11 Home equity and second mortgage 56 56 - 29 1 Other consumer 48 50 - 20 - $ 2,558 $ 2,818 $ - $ 3,154 $ 62 Loans with an allowance recorded: Residential real estate $ 189 $ 211 $ 16 $ 87 $ - Land - - - - - Construction - - - - - Commercial real estate - - - 81 - Commercial business - - - 58 - Home equity and second mortgage - - - 13 - Other consumer - - - - - $ 189 $ 211 $ 16 $ 239 $ - Total: Residential real estate $ 1,926 $ 2,197 $ 16 $ 2,060 $ 17 Land 115 117 - 147 - Construction - - - 209 - Commercial real estate 353 352 - 527 33 Commercial business 249 257 - 388 11 Home equity and second mortgage 56 56 - 42 1 Other consumer 48 50 - 20 - $ 2,747 $ 3,029 $ 16 $ 3,393 $ 62 Unpaid Average Interest Recorded Principal Related Recorded Income Investment Balance Allowance Investment Recognized (In thousands) Loans with no related allowance recorded: Residential real estate $ 2,170 $ 2,409 $ - $ 2,335 $ 23 Land 152 153 - 135 - Construction 521 521 - 104 - Commercial real estate 255 260 - 325 16 Commercial business 400 451 - 237 14 Home equity and second mortgage 35 44 - 57 1 Other consumer - - - 5 1 $ 3,533 $ 3,838 $ - $ 3,198 $ 55 Loans with an allowance recorded: Residential real estate $ 14 $ 15 $ 3 $ 203 $ - Land - - - - - Construction - - - - - Commercial real estate 211 213 44 42 - Commercial business 27 30 1 38 - Home equity and second mortgage - - - 5 - Other consumer - - -- - $ 252 $ 258 $ 48 $ 288 $ - Total: Residential real estate $ 2,184 $ 2,424 $ 3 $ 2,538 $ 23 Land 152 153 - 135 - Construction 521 521 - 104 - Commercial real estate 466 473 44 367 16 Commercial business 427 481 1 275 14 Home equity and second mortgage 35 44 - 62 1 Other consumer - - - 5 1 $ 3,785 $ 4,096 $ 48 $ 3,486 $ 55 Average Interest Recorded Income Investment Recognized (In thousands) Loans with no related allowance recorded: Residential real estate $ 2,437 $ 28 Land - 2 Construction - - Commercial real estate 686 16 Commercial business 57 1 Home equity and second mortgage 194 1 Other consumer 4 - $ 3,378 $ 48 Loans with an allowance recorded: Residential real estate $ 140 $ - Land - - Construction - - Commercial real estate - - Commercial business 40 - Home equity and second mortgage 20 - Other consumer 14 - $ 214 $ - Total: Residential real estate $ 2,577 $ 28 Land - 2 Construction - - Commercial real estate 686 16 Commercial business 97 1 Home equity and second mortgage 214 1 Other consumer 18 - $ 3,592 $ 48 |
Financing Receivable, Nonaccrual [Table Text Block] | December 31, 2019 December 31, 2018 Nonaccrual Loans Loans 90+ Days Past Due Still Accruing Total Nonperforming Loans Nonaccrual Loans Loans 90+ Days Past Due Still Accruing Total Nonperforming Loans (In thousands) Residential real estate $ 1,544 $ 13 $ 1,557 $ 1,769 $ - $ 1,769 Land 115 - 115 152 - 152 Construction - - - 521 - 521 Commercial real estate - - - 371 - 371 Commercial business 58 - 58 207 - 207 Home equity and second mortgage - - - 35 - 35 Other consumer 48 - 48 - 2 2 Total $ 1,765 $ 13 $ 1,778 $ 3,055 $ 2 $ 3,057 |
Financing Receivable, Past Due [Table Text Block] | 30-59 Days Past Due 60-89 Days Past Due Over 90 Days Past Due Total Past Due Current Purchased Credit Impaired Loans Total Loans (In thousands) Residential real estate $ 2,572 $ 824 $ 1,010 $ 4,406 $ 127,848 $ 285 $ 132,539 Land 185 101 80 366 18,948 - 19,314 Construction - - - - 32,644 - 32,644 Commercial real estate - 146 - 146 121,628 39 121,813 Commercial business 61 - 58 119 45,330 - 45,449 Home equity and second mortgage 395 256 - 651 55,337 - 55,988 Other consumer 504 66 - 570 64,870 - 65,440 Total $ 3,717 $ 1,393 $ 1,148 $ 6,258 $ 466,605 $ 324 $ 473,187 30-59 Days Past Due 60-89 Days Past Due Over 90 Days Past Due Total Past Due Current Purchased Credit Impaired Loans Total Loans (In thousands) Residential real estate $ 2,617 $ 926 $ 1,189 $ 4,732 $ 132,005 $ 282 $ 137,019 Land 247 39 152 438 22,306 - 22,744 Construction - - - - 25,442 - 25,442 Commercial real estate 450 - - 450 107,174 48 107,672 Commercial business 377 - 145 522 35,895 - 36,417 Home equity and second mortgage 191 - 35 226 52,777 - 53,003 Other consumer 491 50 2 543 57,015 - 57,558 Total $ 4,373 $ 1,015 $ 1,523 $ 6,911 $ 432,614 $ 330 $ 439,855 |
Financing Receivable Credit Quality Indicators [Table Text Block] | Residential Real Estate Land Construction Commercial Real Estate Commercial Business Home Equity and Second Mortgage Other Consumer Total (In thousands) December 31, 2019: Pass $ 129,613 $ 18,805 $ 32,394 $ 119,469 $ 44,879 $ 55,569 $ 65,320 $ 466,049 Special mention 46 327 250 1,136 378 - 72 2,209 Substandard 1,336 67 - 1,208 134 419 - 3,164 Doubtful/Nonaccrual 1,544 115 - - 58 - 48 1,765 Loss - - - - - - - - Total $ 132,539 $ 19,314 $ 32,644 $ 121,813 $ 45,449 $ 55,988 $ 65,440 $ 473,187 December 31, 2018: Pass $ 133,878 $ 22,458 $ 24,921 $ 104,843 $ 35,162 $ 52,859 $ 57,529 $ 431,650 Special mention 133 65 - 1,520 763 - 29 2,510 Substandard 1,168 69 - 938 285 109 - 2,569 Doubtful/Nonaccrual 1,840 152 521 371 207 35 - 3,126 Loss - - - - - - - - Total $ 137,019 $ 22,744 $ 25,442 $ 107,672 $ 36,417 $ 53,003 $ 57,558 $ 439,855 |
Schedule of Troubled Debt Restructurings by Accrual Status [Table Text Block] | December 31, 2019 December 31, 2018 Accruing Nonaccrual Total Related Allowance for Loan Losses Accruing Nonaccrual Total Related Allowance for Loan Losses (In thousands) Residential real estate $ 367 $ 66 $ 433 $ - $ 295 $ 302 $ 597 $ - Commercial real estate 553 - 553 - 190 371 561 44 Commercial business 191 - 191 - 218 - 218 - Home equity and second mortgage 55 - 55 - - - - - Total $ 1,166 $ 66 $ 1,232 $ - $ 703 $ 673 $ 1,376 $ 44 |
Schedule of Purchased Credit Impaired Loans [Table Text Block] | (In thousands) 2019 2018 Residential real estate $ 285 $ 282 Commercial real estate 39 48 Carrying amount 324 330 Allowance for loan losses 12 - $ 312 $ 330 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Table Text Block] | (In thousands) 2019 2018 2017 Beginning balance $ 423 $ 470 $ 252 New loans acquired - - - Accretion to income (46 ) (54 ) (55 ) Disposals and other adjustments - (32 ) (21 ) Reclassification from nonaccretable difference 26 42 294 Ending balance $ 403 $ 423 $ 470 |
Financing Receivable [Member] | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | Residential Real Estate Land Construction Commercial Real Estate Commercial Business Home Equity and Second Mortgage Other Consumer Total (In thousands) December 31, 2019: Principal loan balance $ 131,959 $ 19,185 $ 32,559 $ 121,563 $ 45,307 $ 54,677 $ 65,168 $ 470,418 Accrued interest receivable 462 114 86 312 142 244 272 1,632 Net deferred loan origination fees and costs 118 15 (1 ) (62 ) - 1,067 - 1,137 Recorded investment in loans $ 132,539 $ 19,314 $ 32,644 $ 121,813 $ 45,449 $ 55,988 $ 65,440 $ 473,187 December 31, 2018: Principal loan balance $ 136,445 $ 22,607 $ 25,375 $ 107,445 $ 36,297 $ 51,731 $ 57,330 $ 437,230 Accrued interest receivable 475 119 76 265 120 247 228 1,530 Net deferred loan origination fees and costs 99 18 (9 ) (38 ) - 1,025 - 1,095 Recorded investment in loans $ 137,019 $ 22,744 $ 25,442 $ 107,672 $ 36,417 $ 53,003 $ 57,558 $ 439,855 |
Note 5 - Premises and Equipme_2
Note 5 - Premises and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | (In thousands) 2019 2018 Land and land improvements $ 5,297 $ 5,297 Leasehold improvements 134 134 Office buildings 16,124 14,028 Furniture, fixtures and equipment 6,689 6,135 28,244 25,594 Less accumulated depreciation 11,830 11,230 Totals $ 16,414 $ 14,364 |
Note 6 - Foreclosed Real Esta_2
Note 6 - Foreclosed Real Estate (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Foreclosed Real Estate Activity [Table Text Block] | (In thousands) 2019 2018 2017 Beginning balance $ 3,142 $ 3,971 $ 4,674 Transfers from loans to foreclosed real estate 311 142 555 Direct write-downs (284 ) (419 ) (263 ) Sales (3,002 ) (558 ) (1,023 ) Capitalized expenses and other adjustments 3 6 28 Ending balance $ 170 $ 3,142 $ 3,971 |
Net Loss on Foreclosed Real Estate [Table Text Block] | (In thousands) 2019 2018 2017 Net (gain) loss on sales $ (114 ) $ 23 $ (3 ) Direct write-downs 284 419 263 Operating expenses, net of income 129 34 56 $ 299 $ 476 $ 316 |
Note 7 - Goodwill and Other I_2
Note 7 - Goodwill and Other Intangibles (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | (In thousands) 2019 2018 Core deposit intangible acquired in Peoples acquisition $ 1,418 $ 1,418 Less accumulated amortization 599 452 $ 819 $ 966 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | Years ending December 31: (In thousands) 2020 $ 147 2021 147 2022 147 2023 147 2024 147 2025 and thereafter 84 Total $ 819 |
Note 8 - Deposits (Tables)
Note 8 - Deposits (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Time Deposit Contractual Maturities [Table Text Block] | Year ending December 31: (In thousands) 2020 $ 33,861 2021 17,117 2022 6,747 2023 6,009 2024 5,122 Total $ 68,856 |
Note 12 - Income Taxes (Tables)
Note 12 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | (In thousands) 2019 2018 2017 Current $ 1,505 $ 1,789 $ 2,755 Deferred 482 (395 ) 348 Totals $ 1,987 $ 1,394 $ 3,103 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | (In thousands) 2019 2018 2017 Provision at federal statutory tax rate $ 2,588 $ 2,239 $ 3,589 State income tax-net of federal tax benefit 121 100 91 Revaluation of net deferred tax asset due to change in federal income tax rate - - 290 Tax-exempt interest income (379 ) (328 ) (507 ) Bank-owned life insurance income (44 ) (67 ) (73 ) Captive insurance net premiums (209 ) (195 ) (290 ) Investment in tax credit entities (114 ) (272 ) - Other 24 (83 ) 3 Totals $ 1,987 $ 1,394 $ 3,103 Effective tax rate 16.1 % 13.1 % 29.4 % |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | (In thousands) 2019 2018 Deferred tax assets (liabilities): Deferred compensation plans $ 101 $ 115 Allowance for loan losses 1,122 855 Unrealized loss on securities available for sale - 1,118 Unrealized loss on equity securities 42 49 Restricted stock 48 31 Valuation allowance on foreclosed real estate - 174 Interest on nonaccrual loans 185 215 Other 21 39 Deferred tax assets 1,519 2,596 Unrealized gain on securities available for sale (601 ) - Depreciation (691 ) (491 ) Deferred loan fees and costs (247 ) (246 ) FHLB stock dividends (35 ) (36 ) Prepaid expenses (276 ) (232 ) Acquisition purchase accounting adjustments (419 ) (125 ) Other (8 ) (23 ) Deferred tax liabilities (2,277 ) (1,153 ) Net deferred tax asset (liability) $ (758 ) $ 1,443 |
Note 15 - Stock-based Compens_2
Note 15 - Stock-based Compensation Plan (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
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 24,900 $ 34.10 Granted 9,750 52.09 Vested (6,900 ) 31.43 Forfeited - - Nonvested at end of year 27,750 $ 41.08 |
Note 16 - Commitments and Con_2
Note 16 - Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Commitments to Extend Credit [Table Text Block] | (In thousands) 2019 2018 Loan commitments: Fixed rate $ 3,250 $ 4,946 Adjustable rate 10,996 930 Standby letters of credit 473 1,295 Unused lines of credit on credit cards 6,915 6,641 Undisbursed commercial and personal lines of credit 26,800 26,862 Undisbursed portion of construction loans in process 23,081 26,675 Undisbursed portion of home equity lines of credit 50,010 47,079 $ 121,525 $ 114,428 |
Note 18 - Regulatory Matters (T
Note 18 - Regulatory Matters (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | Minimum Minimum for Capital to be Well Adequacy Purposes Capitalized under with Capital Prompt Corrective Actual Conservation Buffer: Action Provisions: (Dollars in thousands) Amount Ratio Amount Ratio Amount Ratio As of December 31, 2019: Total capital (to risk weighted assets) $ 86,662 14.90 % $ 61,078 10.50 % $ 58,169 10.00 % Tier 1 capital (to risk weighted assets) $ 81,601 14.03 % $ 49,444 8.50 % $ 46,536 8.00 % Common equity Tier 1 capital (to risk weighted assets) $ 81,601 14.03 % $ 40,719 7.00 % $ 37,810 6.50 % Tier 1 capital (to average assets) $ 81,601 10.01 % $ 32,599 4.00 % $ 40,749 5.00 % As of December 31, 2018: Total capital (to risk weighted assets) $ 79,406 14.62 % $ 53,626 9.875 % $ 54,304 10.00 % Tier 1 capital (to risk weighted assets) $ 75,341 13.87 % $ 42,765 7.875 % $ 43,444 8.00 % Common equity Tier 1 capital (to risk weighted assets) $ 75,341 13.87 % $ 34,619 6.375 % $ 35,298 6.50 % Tier 1 capital (to average assets) $ 75,341 9.57 % $ 31,478 4.000 % $ 39,347 5.00 % |
Note 19 - Fair Value Measurem_2
Note 19 - Fair Value Measurements (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
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, 2019: Assets Measured on a Recurring Basis Securities available for sale: Agency mortgage-backed securities $ - $ 69,498 $ - $ 69,498 Agency CMO - 43,084 - 43,084 Agency notes and bonds - 64,556 - 64,556 Municipal obligations - 77,424 - 77,424 Total securities available for sale $ - $ 254,562 $ - $ 254,562 Equity securities $ 1,746 $ - $ - $ 1,746 Assets Measured on a Nonrecurring Basis Impaired loans: Residential real estate $ - $ - $ 1,910 $ 1,910 Land - - 115 115 Commercial real estate - - 353 353 Commercial business - - 249 249 Home equity and second mortgage - - 56 56 Other consumer - - 48 48 Total impaired loans $ - $ - $ 2,731 $ 2,731 Loans held for sale $ - $ 4,176 $ - $ 4,176 Foreclosed real estate: Residential real estate - - $ 170 $ 170 Total foreclosed real estate $ - $ - $ 170 $ 170 Carrying Value Level 1 Level 2 Level 3 Total (In thousands) December 31, 2018: Assets Measured on a Recurring Basis Securities available for sale: Agency mortgage-backed securities $ - $ 91,257 $ - $ 91,257 Agency CMO - 32,992 - 32,992 Agency notes and bonds - 74,504 - 74,504 Municipal obligations - 63,088 - 63,088 Total securities available for sale $ - $ 261,841 $ - $ 261,841 Equity securities $ 1,715 $ - $ - $ 1,715 Assets Measured on a Nonrecurring Basis Impaired loans: Residential real estate $ - $ - $ 2,181 $ 2,181 Land - - 152 152 Construction - - 521 521 Commercial real estate - - 422 422 Commercial business - - 426 426 Home equity and second mortgage - - 35 35 Total impaired loans $ - $ - $ 3,737 $ 3,737 Loans held for sale $ - $ 2,849 $ - $ 2,849 Foreclosed real estate: Residential real estate $ - $ - $ 33 $ 33 Commercial real estate - - 3,109 3,109 Total foreclosed real estate $ - $ - $ 3,142 $ 3,142 |
Note 20 - Disclosures About F_2
Note 20 - Disclosures About Fair Value of Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Fair Value, by Balance Sheet Grouping [Table Text Block] | Fair Value Measurements Using (In thousands) Carrying Fair Level 1 Level 2 Level 3 December 31, 2019: Financial assets: Cash and cash equivalents $ 51,360 $ 51,360 $ 51,360 $ - $ - Interest-bearing time deposits 6,490 6,654 - 6,654 - Securities available for sale 254,562 254,562 - 254,562 Loans held for sale 4,176 4,243 - 4,243 - Loans, net 466,694 482,119 - - 482,119 FHLB and other restricted stock 1,988 N/A N/A N/A N/A Accrued interest receivable 3,076 3,076 - 3,076 - Equity securities (included in other assets) 1,746 1,746 1,746- - Financial liabilities: Deposits 722,177 721,729 - - 721,729 Accrued interest payable 210 210 - 210 - December 31, 2018: Financial assets: Cash and cash equivalents $ 41,112 $ 41,112 $ 41,112 $ - $ - Interest-bearing time deposits 7,710 7,650 - 7,650 - Securities available for sale 261,841 261,841 261,841 Loans held for sale 2,849 2,900 -- 2,900 - Loans, net 434,260 427,200 - - 427,200 FHLB and other restricted stock 1,988 N/A N/A N/A N/A Accrued interest receivable 2,828 2,828 - 2,828 - Equity securities (included in other assets) 1,715 1,715 1,715 - - Financial liabilities: Deposits 701,646 699,864 - - 699,864 Accrued interest payable 150 150 - 150 - |
Note 21 - Revenue From Contra_2
Note 21 - Revenue From Contracts With Customers (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | (In thousands) 2019 2018 2017 Service charges on deposit accounts $ 2,088 $ 2,177 $ 2,098 ATM and debit card fees 2,812 2,564 2,329 Investment advisory income 504 386 416 Other 124 128 123 Revenue from contracts with customers 5,528 5,255 4,966 Net gains on loans and investments 1,076 528 1,439 Increase in cash value of life insurance 211 227 197 Other 111 158 96 Other noninterest income 1,398 913 1,732 Total noninterest income $ 6,926 $ 6,168 $ 6,698 Net (gain) loss on sales of foreclosed real estate $ (114 ) $ 23 $ (3 ) |
Note 23 - Parent Company Cond_2
Note 23 - Parent Company Condensed Financial Information (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Condensed Financial Information of Parent Company Only, Statements of Financial Condition [Table Text Block] | As of December 31, 2019 2018 Assets: Cash and cash equivalents $ 3,847 $ 2,845 Other assets 2,110 2,039 Investment in subsidiaries 92,879 80,960 $ 98,836 $ 85,844 Liabilities and Equity: Accrued expenses $ - $ - Stockholders' equity 98,836 85,844 $ 98,836 $ 85,844 |
Condensed Financial Information of Parent Company Only, Statement of Income [Table Text Block] | Years Ended December 31, 2019 2018 2017 Dividend income from subsidiaries $ 4,450 $ 6,297 $ 4,175 Other income 59 16 4 Income (loss) on equity securities 32 (207 ) - Other operating expenses (714 ) (587 ) (383 ) Income before income taxes and equity in undistributed net income of subsidiaries 3,827 5,519 3,796 Income tax benefit 199 210 147 Income before equity in undistributed net income of subsidiaries 4,026 5,729 3,943 Equity in undistributed net income of subsidiaries 6,299 3,524 3,496 Net income $ 10,325 $ 9,253 $ 7,439 |
Condensed Financial Information of Parent Company Only, Statements of Cash Flows [Table Text Block] | Years Ended December 31, 2019 2018 2017 Operating Activities: Net income $ 10,325 $ 9,253 $ 7,439 Adjustments to reconcile net income to cash and cash equivalents provided by operating activities: Equity in undistributed net income of subsidiaries (6,299 ) (3,524 ) (3,496 ) Stock compensation expense 288 192 88 Unrealized (gain) loss on equity securities (32 ) 207 - Net change in other assets and liabilities (40 ) (89 ) (20 ) Net cash provided by operating activities 4,242 6,039 4,011 Investing Activities: Purchase of equity investment - (1,922 ) - Net cash used in investing activities - (1,922 ) - Financing Activities: Purchase of treasury stock (2 ) (32 ) (16 ) Taxes paid on stock award shares for employees (42 ) (2 ) (2 ) Cash dividends paid (3,196 ) (3,088 ) (2,870 ) Net cash used in financing activities (3,240 ) (3,122 ) (2,888 ) Net increase in cash and cash equivalents 1,002 995 1,123 Cash and cash equivalents at beginning of year 2,845 1,850 727 Cash and cash equivalents at end of year $ 3,847 $ 2,845 $ 1,850 |
Note 24 - Supplemental Disclo_2
Note 24 - Supplemental Disclosure of Cash Flow Information (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block] | Years Ended December 31, (In thousands) 2019 2018 2017 Cash payments for: Interest $ 1,900 $ 1,570 $ 1,466 Income taxes (net of refunds received) 1,367 1,611 3,010 Noncash investing activities: Transfers from loans to foreclosed real estate $ 311 $ 142 $ 555 Proceeds from sales of foreclosed real estate financed through loans - - 15 |
Note 25 - Supplemental Disclo_2
Note 25 - Supplemental Disclosure for Earnings Per Share (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
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, 2019 2018 2017 Basic: Net income attributable to First Capital, Inc. $ 10,325 $ 9,253 $ 7,439 Shares: Weighted average common shares outstanding 3,332,869 3,328,422 3,325,032 Net income per common share attributable to First Capital, Inc., basic $ 3.10 $ 2.78 $ 2.24 Diluted: Net income attributable to First Capital, Inc. $ 10,325 $ 9,253 $ 7,439 Shares: Weighted average common shares outstanding 3,332,869 3,328,422 3,325,032 Add: Dilutive effect of restricted stock 11,203 6,972 4,531 Weighted average common shares outstanding, as adjusted 3,344,072 3,335,394 3,329,563 Net income per common share attributable to First Capital, Inc., diluted $ 3.09 $ 2.77 $ 2.23 |
Note 26 - Selected Quarterly _2
Note 26 - Selected Quarterly Financial Information (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Quarterly Financial Information [Table Text Block] | First Second Third Fourth 2019 (In thousands, except per share data) Interest income $ 7,658 $ 8,219 $ 8,220 $ 7,957 Interest expense 456 491 503 510 Net interest income 7,202 7,728 7,717 7,447 Provision for loan losses 450 300 225 450 Net interest income after provision for loan losses 6,752 7,428 7,492 6,997 Noninterest income 1,505 1,768 1,833 1,820 Noninterest expenses 5,665 5,764 5,870 5,971 Income before income taxes 2,592 3,432 3,455 2,846 Income tax expense 442 568 537 440 Net income 2,150 2,864 2,918 2,406 Less: net income attributable to noncontrolling interest in subsidiary 3 4 3 3 Net income attributable to First Capital, Inc. $ 2,147 $ 2,860 $ 2,915 $ 2,403 Earnings per common share attributable to First Capital, Inc.: Basic $ 0.64 $ 0.86 $ 0.87 $ 0.72 Diluted $ 0.64 $ 0.86 $ 0.87 $ 0.72 2018 Interest income $ 6,764 $ 7,063 $ 7,433 $ 7,626 Interest expense 342 395 424 450 Net interest income 6,422 6,668 7,009 7,176 Provision for loan losses 197 316 455 200 Net interest income after provision for loan losses 6,225 6,352 6,554 6,976 Noninterest income 1,526 1,736 1,698 1,208 Noninterest expenses 5,254 5,697 5,195 5,469 Income before income taxes 2,497 2,391 3,057 2,715 Income tax expense 361 287 530 216 Net income 2,136 2,104 2,527 2,499 Less: net income attributable to noncontrolling interest in subsidiary 3 4 3 3 Net income attributable to First Capital, Inc. $ 2,133 $ 2,100 $ 2,524 $ 2,496 Earnings per common share attributable to First Capital, Inc.: Basic $ 0.64 $ 0.63 $ 0.76 $ 0.75 Diluted $ 0.64 $ 0.63 $ 0.76 $ 0.75 First Second Third Fourth 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 |
Note 1 - Summary of Significa_2
Note 1 - Summary of Significant Accounting Policies (Details Textual) | 12 Months Ended |
Dec. 31, 2019USD ($) | |
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 |
Bank Overdrafts [Member] | |
Financing Receivable, Threshold Period Past Due, Writeoff | 45 days |
Consumer Portfolio Segment [Member] | |
Financing Receivable, Threshold Period Past Due, Writeoff | 90 days |
Maximum [Member] | |
Maturity of Time Deposits | 90 days |
Note 2 - Restriction on Cash _2
Note 2 - Restriction on Cash and Due From Banks (Details Textual) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Restricted Cash and Cash Equivalents, Total | $ 1.9 | $ 1.8 | $ 1.7 |
Note 3 - Investment Securitie_2
Note 3 - Investment Securities (Details Textual) | 1 Months Ended | 12 Months Ended | ||
Sep. 30, 2018USD ($)shares | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | |
Available-for-sale Securities Pledged as Collateral, Amortized Cost | $ 53,400,000 | |||
Number of Holdings of Securities with an Aggregate Book Value Greater than 10% of Stockholders' Equity | 0 | 0 | ||
Available-for-Sale, Securities in Unrealized Loss Positions, Depreciation from Amortized Cost Percentage | 0.80% | |||
Other-than-temporary Impairment Loss, Debt Securities, Available-for-sale, Total | $ 0 | |||
Debt Securities, Available-for-sale, Realized Gain | 22,000 | $ 218,000 | $ 61,000 | |
Debt Securities, Available-for-sale, Realized Loss | 156,000 | 313,000 | 7,000 | |
Debt Securities, Time Deposits, Realized Loss | 13,000 | |||
Investment, Number of Shares Acquired | shares | 90,000 | |||
Investment Ownership Percentage | 5.00% | |||
Payments to Acquire Other Investments | $ 1,900,000 | 1,922,000 | ||
Equity Securities, FV-NI, Unrealized Gain | 32,000 | |||
Equity Securities, FV-NI, Unrealized Loss | 207,000 | |||
Equity Securities, FV-NI | 1,700,000 | $ 1,700,000 | ||
Securities Available for Sale [Member] | ||||
Debt Securities, Available-for-sale, Restricted | $ 53,300,000 |
Note 3 - Investment Securitie_3
Note 3 - Investment Securities - Investment Securities (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Securities available for sale, amortized cost | $ 251,819 | $ 266,437 |
Securities available for sale, gross unrealized gains | 3,644 | 862 |
Securities available for sale, gross unrealized losses | 901 | 5,458 |
Securities available for sale, fair value | 254,562 | 261,841 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Securities available for sale, amortized cost | 69,984 | 94,746 |
Securities available for sale, gross unrealized gains | 90 | |
Securities available for sale, gross unrealized losses | 576 | 3,489 |
Securities available for sale, fair value | 69,498 | 91,257 |
Agency Collateralized Mortgage Obligations [Member] | ||
Securities available for sale, amortized cost | 43,067 | 33,222 |
Securities available for sale, gross unrealized gains | 238 | 152 |
Securities available for sale, gross unrealized losses | 221 | 382 |
Securities available for sale, fair value | 43,084 | 32,992 |
US Government Agencies Debt Securities [Member] | ||
Securities available for sale, amortized cost | 64,162 | 75,461 |
Securities available for sale, gross unrealized gains | 473 | 59 |
Securities available for sale, gross unrealized losses | 79 | 1,016 |
Securities available for sale, fair value | 64,556 | 74,504 |
Municipal Notes [Member] | ||
Securities available for sale, amortized cost | 74,606 | 63,008 |
Securities available for sale, gross unrealized gains | 2,843 | 651 |
Securities available for sale, gross unrealized losses | 25 | 571 |
Securities available for sale, fair value | $ 77,424 | $ 63,088 |
Note 3 - Investment Securitie_4
Note 3 - Investment Securities - Amortized Cost and Fair Value of Debt Securities by Contractual Maturity (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Securities available for sale, amortized cost, due in one year or less | $ 21,972 | |
Securities available for sale, fair value, due in one year or less | 21,953 | |
Securities available for sale, amortized cost, due after one year through five years | 50,908 | |
Securities available for sale, fair value, due after one year through five years | 51,476 | |
Securities available for sale, amortized cost, due after five years through ten years | 29,551 | |
Securities available for sale, fair value, due after five years through ten years | 30,750 | |
Securities available for sale, amortized cost, due after ten years | 36,337 | |
Securities available for sale, fair value, due after ten years | 37,801 | |
Securities available for sale, amortized cost, single maturity | 138,768 | |
Securities available for sale, fair value, single maturity | 141,980 | |
Securities available for sale, amortized cost, mortgage-backed securities and CMO | 113,051 | |
Securities available for sale, fair value, mortgage-backed securities and CMO | 112,582 | |
Securities available for sale, fair value | 254,562 | $ 261,841 |
Debt Securities [Member] | ||
Securities available for sale, amortized cost | 251,819 | |
Securities available for sale, fair value | $ 254,562 |
Note 3 - Investment Securitie_5
Note 3 - Investment Securities - Investment Securities Available for Sale (Details) $ in Thousands | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) |
Number of investment positions - less than twelve months | 24 | 17 |
Gross unrealized losses - less than twelve months | $ 24,264 | $ 8,484 |
Fair value - less than twelve months | $ 201 | $ 27 |
Number of investment positions - more than twelve months | 75 | 192 |
Gross unrealized losses - more than twelve months | $ 93,852 | $ 195,091 |
Fair value - more than twelve months | $ 700 | $ 5,431 |
Number of investment positions | 99 | 209 |
Gross unrealized losses | $ 118,116 | $ 203,575 |
Fair value | $ 901 | $ 5,458 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Number of investment positions - less than twelve months | 5 | 1 |
Gross unrealized losses - less than twelve months | $ 723 | $ 1,563 |
Fair value - less than twelve months | $ 2 | $ 13 |
Number of investment positions - more than twelve months | 50 | 97 |
Gross unrealized losses - more than twelve months | $ 49,033 | $ 89,680 |
Fair value - more than twelve months | $ 574 | $ 3,476 |
Agency Collateralized Mortgage Obligations [Member] | ||
Number of investment positions - less than twelve months | 13 | 4 |
Gross unrealized losses - less than twelve months | $ 14,749 | $ 2,870 |
Fair value - less than twelve months | $ 157 | $ 1 |
Number of investment positions - more than twelve months | 15 | 24 |
Gross unrealized losses - more than twelve months | $ 7,113 | $ 12,168 |
Fair value - more than twelve months | $ 64 | $ 381 |
US Government Agencies Debt Securities [Member] | ||
Number of investment positions - less than twelve months | 2 | 1 |
Gross unrealized losses - less than twelve months | $ 5,551 | $ 499 |
Fair value - less than twelve months | $ 17 | $ 1 |
Number of investment positions - more than twelve months | 10 | 22 |
Gross unrealized losses - more than twelve months | $ 37,706 | $ 67,927 |
Fair value - more than twelve months | $ 62 | $ 1,015 |
US States and Political Subdivisions Debt Securities [Member] | ||
Number of investment positions - less than twelve months | 4 | 11 |
Gross unrealized losses - less than twelve months | $ 3,241 | $ 3,552 |
Fair value - less than twelve months | $ 25 | $ 12 |
Number of investment positions - more than twelve months | 49 | |
Gross unrealized losses - more than twelve months | $ 25,316 | |
Fair value - more than twelve months | $ 559 |
Note 4 - Loans and Allowance _3
Note 4 - Loans and Allowance for Loan Losses (Details Textual) | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2018USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | |
Unamortized Loan Commitment and Origination Fees and Unamortized Discounts or Premiums, Total | $ 1,137,000 | $ 1,095,000 | ||
Loans and Leases Receivable, Gross, Total | 473,187,000 | 439,855,000 | ||
Off-balance-sheet Commitments to Related Parties | 7,500,000 | 2,600,000 | ||
Impaired Financing Receivable, Interest Income, Cash Basis Method, Total | 0 | $ 0 | ||
Financing Receivable, Troubled Debt Restructuring, Commitment to Lend | 0 | 0 | ||
Troubled Debt Restructuring, Principal Charge-offs | $ 0 | $ 0 | $ 0 | |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 0 | 0 | 0 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance, Total | $ 466,000 | $ 519,000 | ||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Allowance for Loan Losses | 12,000 | 0 | ||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Allowance for Loan Losses, Decreases | $ 2,000 | 12,000 | $ 2,000 | |
Classified Loans [Member] | ||||
Allowance for Loan and Lease Losses, Period Increase (Decrease), Total | 386,000 | 333,000 | ||
Overall Qualitative Factor [Member] | ||||
Allowance for Loan and Lease Losses, Period Increase (Decrease), Total | 3,800,000 | 3,100,000 | ||
Residential Mortgage Segment [Member] | ||||
Loans and Leases Receivable, Gross, Total | 2,300,000 | 2,700,000 | ||
Amount of Loans Serviced for Others | $ 0 | $ 111,000 | ||
Financing Receivable, Modifications, Number of Contracts | 2 | 1 | 1 | |
Financing Receivable, Troubled Debt Restructuring | $ 225,000 | $ 241,000 | $ 65,000 | |
Commercial Real Estate Portfolio Segment [Member] | ||||
Financing Receivable, Modifications, Number of Contracts | 1 | 1 | ||
Financing Receivable, Troubled Debt Restructuring | $ 154,000 | $ 94,000 | ||
Consumer Portfolio Segment [Member] | ||||
Financing Receivable, Modifications, Number of Contracts | 1 | |||
Financing Receivable, Troubled Debt Restructuring | $ 56,000 | |||
Commercial Portfolio Segment [Member] | ||||
Unamortized Loan Commitment and Origination Fees and Unamortized Discounts or Premiums, Total | ||||
Loans and Leases Receivable, Gross, Total | 45,449,000 | $ 36,417,000 | ||
Financing Receivable, Modifications, Number of Contracts | 2 | |||
Financing Receivable, Troubled Debt Restructuring | $ 234,000 | |||
Peoples Bancorp, Inc [Member] | ||||
Unamortized Loan Commitment and Origination Fees and Unamortized Discounts or Premiums, Total | $ 67,000 | $ 70,000 |
Note 4 - Loans and Allowance _4
Note 4 - Loans and Allowance for Loan Losses - Loans (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Loans | $ 493,499 | $ 463,905 | ||
Less undisbursed portion of loans in process | (23,081) | (26,675) | ||
Principal loan balance | 470,418 | 437,230 | ||
Deferred loan origination fees and costs, net | 1,137 | 1,095 | ||
Allowance for loan losses | (5,061) | (4,065) | $ (3,634) | $ (3,386) |
Loans, net | 466,494 | 434,260 | ||
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | ||||
Loans | 131,959 | 136,445 | ||
Allowance for loan losses | (867) | (693) | (219) | (380) |
Real Estate Mortgage Portfolio Segment [Member] | Land Loan [Member] | ||||
Loans | 19,185 | 22,607 | ||
Principal loan balance | 19,185 | 22,607 | ||
Deferred loan origination fees and costs, net | 15 | 18 | ||
Allowance for loan losses | (163) | (162) | (133) | (56) |
Real Estate Mortgage Portfolio Segment [Member] | Residential Construction [Member] | ||||
Loans | 35,554 | 31,459 | ||
Real Estate Mortgage Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | ||||
Loans | 121,563 | 107,445 | ||
Principal loan balance | 121,563 | 107,445 | ||
Deferred loan origination fees and costs, net | (62) | (38) | ||
Allowance for loan losses | (1,623) | (1,401) | (1,622) | (1,670) |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Real Estate Construction [Member] | ||||
Loans | 20,086 | 20,591 | ||
Commercial Portfolio Segment [Member] | ||||
Loans | 45,307 | 36,297 | ||
Principal loan balance | 45,307 | 36,297 | ||
Deferred loan origination fees and costs, net | ||||
Allowance for loan losses | (595) | (459) | (291) | (198) |
Consumer Portfolio Segment [Member] | Home Equity and Second Mortgage [Member] | ||||
Loans | 54,677 | 51,731 | ||
Principal loan balance | 54,677 | 51,731 | ||
Deferred loan origination fees and costs, net | 1,067 | 1,025 | ||
Allowance for loan losses | (515) | (443) | (710) | (683) |
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | ||||
Loans | 46,443 | 42,124 | ||
Consumer Portfolio Segment [Member] | Loans Secured by Deposits [Member] | ||||
Loans | 1,372 | 1,399 | ||
Consumer Portfolio Segment [Member] | Unsecured Loan [Member] | ||||
Loans | 3,653 | 3,638 | ||
Consumer Portfolio Segment [Member] | Other Consumer Loan [Member] | ||||
Loans | 13,700 | 10,169 | ||
Principal loan balance | 65,168 | 57,330 | ||
Deferred loan origination fees and costs, net | ||||
Allowance for loan losses | $ (414) | $ (319) |
Note 4 - Loans and Allowance _5
Note 4 - Loans and Allowance for Loan Losses - Related Party Loans (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Beginning balance | $ 7,867 | $ 7,639 |
Adjustments due to officer and director changes | (205) | |
New loans | 5,271 | 1,971 |
Payments | (3,618) | (1,538) |
Ending balance | $ 9,520 | $ 7,867 |
Note 4 - Loans and Allowance _6
Note 4 - Loans and Allowance for Loan Losses - Recorded Investments in Loans (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Principal loan balance | $ 470,418 | $ 437,230 |
Accrued interest receivable | 1,632 | 1,530 |
Net deferred loan origination fees and costs | 1,137 | 1,095 |
Recorded investment in loans | 473,187 | 439,855 |
Commercial Portfolio Segment [Member] | ||
Principal loan balance | 45,307 | 36,297 |
Accrued interest receivable | 142 | 120 |
Net deferred loan origination fees and costs | ||
Recorded investment in loans | 45,449 | 36,417 |
Real Estate Loan [Member] | Real Estate Mortgage Portfolio Segment [Member] | ||
Principal loan balance | 131,959 | 136,445 |
Accrued interest receivable | 462 | 475 |
Net deferred loan origination fees and costs | 118 | 99 |
Recorded investment in loans | 132,539 | 137,019 |
Land Loan [Member] | Real Estate Mortgage Portfolio Segment [Member] | ||
Principal loan balance | 19,185 | 22,607 |
Accrued interest receivable | 114 | 119 |
Net deferred loan origination fees and costs | 15 | 18 |
Recorded investment in loans | 19,314 | 22,744 |
Construction Loans [Member] | Real Estate Mortgage Portfolio Segment [Member] | ||
Principal loan balance | 32,559 | 25,375 |
Accrued interest receivable | 86 | 76 |
Net deferred loan origination fees and costs | (1) | (9) |
Recorded investment in loans | 32,644 | 25,442 |
Commercial Real Estate Loan [Member] | Real Estate Mortgage Portfolio Segment [Member] | ||
Principal loan balance | 121,563 | 107,445 |
Accrued interest receivable | 312 | 265 |
Net deferred loan origination fees and costs | (62) | (38) |
Recorded investment in loans | 121,813 | 107,672 |
Home Equity and Second Mortgage [Member] | Consumer Portfolio Segment [Member] | ||
Principal loan balance | 54,677 | 51,731 |
Accrued interest receivable | 244 | 247 |
Net deferred loan origination fees and costs | 1,067 | 1,025 |
Recorded investment in loans | 55,988 | 53,003 |
Other Consumer Loan [Member] | Consumer Portfolio Segment [Member] | ||
Principal loan balance | 65,168 | 57,330 |
Accrued interest receivable | 272 | 228 |
Net deferred loan origination fees and costs | ||
Recorded investment in loans | $ 65,440 | $ 57,558 |
Note 4 - Loans and Allowance _7
Note 4 - Loans and Allowance for Loan Losses - Allowance for Loan Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2019 | Dec. 31, 2018 | |
Beginning balance | $ 4,065 | $ 3,634 | $ 3,386 | $ 4,065 | $ 3,634 | $ 3,386 | |||||||||||
Provisions | $ 450 | $ 225 | $ 300 | 450 | $ 200 | $ 455 | $ 316 | 197 | $ 298 | $ 150 | $ 256 | 211 | 1,425 | 1,168 | 915 | ||
Charge-offs | (766) | (1,027) | (936) | ||||||||||||||
Recoveries | 337 | 290 | 269 | ||||||||||||||
Ending balance | 5,061 | 4,065 | 3,634 | 5,061 | 4,065 | 3,634 | |||||||||||
Individually evaluated for impairment | $ 16 | $ 48 | |||||||||||||||
Collectively evaluated for impairment | 5,033 | 4,017 | |||||||||||||||
Acquired with deteriorated credit quality | 5,061 | 4,065 | 4,065 | 3,634 | 3,634 | 3,386 | 5,061 | 3,634 | 3,386 | 5,061 | 4,065 | ||||||
Individually evaluated for impairment | 2,747 | 3,785 | |||||||||||||||
Collectively evaluated for impairment | 470,116 | 435,740 | |||||||||||||||
Recorded investment in loans | 473,187 | 439,855 | |||||||||||||||
Financial Asset Acquired with Credit Deterioration [Member] | |||||||||||||||||
Beginning balance | |||||||||||||||||
Ending balance | 12 | 12 | |||||||||||||||
Acquired with deteriorated credit quality | 12 | 12 | |||||||||||||||
Recorded investment in loans | 324 | 330 | |||||||||||||||
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | |||||||||||||||||
Beginning balance | 693 | 219 | 380 | 693 | 219 | 380 | |||||||||||
Provisions | 251 | 723 | (120) | ||||||||||||||
Charge-offs | (194) | (258) | (74) | ||||||||||||||
Recoveries | 117 | 9 | 33 | ||||||||||||||
Ending balance | 867 | 693 | 219 | 867 | 693 | 219 | |||||||||||
Individually evaluated for impairment | 16 | 3 | |||||||||||||||
Collectively evaluated for impairment | 839 | 690 | |||||||||||||||
Acquired with deteriorated credit quality | 867 | 693 | 693 | 219 | 219 | 380 | 867 | 219 | 380 | 867 | 693 | ||||||
Individually evaluated for impairment | 1,926 | 2,184 | |||||||||||||||
Collectively evaluated for impairment | 130,328 | 134,553 | |||||||||||||||
Recorded investment in loans | 132,539 | 137,019 | |||||||||||||||
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | Financial Asset Acquired with Credit Deterioration [Member] | |||||||||||||||||
Beginning balance | |||||||||||||||||
Ending balance | 12 | 12 | |||||||||||||||
Acquired with deteriorated credit quality | 12 | 12 | |||||||||||||||
Recorded investment in loans | 285 | 282 | |||||||||||||||
Real Estate Mortgage Portfolio Segment [Member] | Land Loan [Member] | |||||||||||||||||
Beginning balance | 162 | 133 | 56 | 162 | 133 | 56 | |||||||||||
Provisions | 29 | 77 | |||||||||||||||
Charge-offs | |||||||||||||||||
Recoveries | 1 | ||||||||||||||||
Ending balance | 163 | 162 | 133 | 163 | 162 | 133 | |||||||||||
Individually evaluated for impairment | |||||||||||||||||
Collectively evaluated for impairment | 163 | 162 | |||||||||||||||
Acquired with deteriorated credit quality | 163 | 162 | 162 | 133 | 133 | 56 | 163 | 133 | 56 | 163 | 162 | ||||||
Individually evaluated for impairment | 115 | 152 | |||||||||||||||
Collectively evaluated for impairment | 19,199 | 22,592 | |||||||||||||||
Recorded investment in loans | 19,314 | 22,744 | |||||||||||||||
Real Estate Mortgage Portfolio Segment [Member] | Land Loan [Member] | Financial Asset Acquired with Credit Deterioration [Member] | |||||||||||||||||
Beginning balance | |||||||||||||||||
Ending balance | |||||||||||||||||
Acquired with deteriorated credit quality | |||||||||||||||||
Recorded investment in loans | |||||||||||||||||
Real Estate Mortgage Portfolio Segment [Member] | Construction Loans [Member] | |||||||||||||||||
Beginning balance | 224 | 245 | 80 | 224 | 245 | 80 | |||||||||||
Provisions | 126 | (21) | 165 | ||||||||||||||
Charge-offs | |||||||||||||||||
Recoveries | |||||||||||||||||
Ending balance | 350 | 224 | 245 | 350 | 224 | 245 | |||||||||||
Individually evaluated for impairment | |||||||||||||||||
Collectively evaluated for impairment | 350 | 224 | |||||||||||||||
Acquired with deteriorated credit quality | 350 | 224 | 224 | 245 | 245 | 80 | 350 | 245 | 80 | 350 | 224 | ||||||
Individually evaluated for impairment | 521 | ||||||||||||||||
Collectively evaluated for impairment | 32,644 | 24,921 | |||||||||||||||
Recorded investment in loans | 32,644 | 25,442 | |||||||||||||||
Real Estate Mortgage Portfolio Segment [Member] | Construction Loans [Member] | Financial Asset Acquired with Credit Deterioration [Member] | |||||||||||||||||
Beginning balance | |||||||||||||||||
Ending balance | |||||||||||||||||
Acquired with deteriorated credit quality | |||||||||||||||||
Recorded investment in loans | |||||||||||||||||
Real Estate Mortgage Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | |||||||||||||||||
Beginning balance | 1,401 | 1,622 | 1,670 | 1,401 | 1,622 | 1,670 | |||||||||||
Provisions | 222 | (296) | (124) | ||||||||||||||
Charge-offs | (3) | ||||||||||||||||
Recoveries | 75 | 79 | |||||||||||||||
Ending balance | 1,623 | 1,401 | 1,622 | 1,623 | 1,401 | 1,622 | |||||||||||
Individually evaluated for impairment | 44 | ||||||||||||||||
Collectively evaluated for impairment | 1,623 | 1,357 | |||||||||||||||
Acquired with deteriorated credit quality | 1,623 | 1,401 | 1,401 | 1,622 | 1,622 | 1,670 | 1,623 | 1,622 | 1,670 | 1,623 | 1,401 | ||||||
Individually evaluated for impairment | 353 | 466 | |||||||||||||||
Collectively evaluated for impairment | 121,421 | 107,158 | |||||||||||||||
Recorded investment in loans | 121,813 | 107,672 | |||||||||||||||
Real Estate Mortgage Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | Financial Asset Acquired with Credit Deterioration [Member] | |||||||||||||||||
Beginning balance | |||||||||||||||||
Ending balance | |||||||||||||||||
Acquired with deteriorated credit quality | |||||||||||||||||
Recorded investment in loans | 39 | 48 | |||||||||||||||
Commercial Portfolio Segment [Member] | |||||||||||||||||
Beginning balance | 459 | 291 | 198 | 459 | 291 | 198 | |||||||||||
Provisions | 132 | 218 | 226 | ||||||||||||||
Charge-offs | (51) | (140) | |||||||||||||||
Recoveries | 4 | 1 | 7 | ||||||||||||||
Ending balance | 595 | 459 | 291 | 595 | 459 | 291 | |||||||||||
Individually evaluated for impairment | 1 | ||||||||||||||||
Collectively evaluated for impairment | 595 | 458 | |||||||||||||||
Acquired with deteriorated credit quality | 595 | 459 | 459 | 291 | 291 | 198 | 595 | 291 | 198 | 595 | 459 | ||||||
Individually evaluated for impairment | 249 | 427 | |||||||||||||||
Collectively evaluated for impairment | 45,200 | 35,990 | |||||||||||||||
Recorded investment in loans | 45,449 | 36,417 | |||||||||||||||
Commercial Portfolio Segment [Member] | Financial Asset Acquired with Credit Deterioration [Member] | |||||||||||||||||
Beginning balance | |||||||||||||||||
Ending balance | |||||||||||||||||
Acquired with deteriorated credit quality | |||||||||||||||||
Recorded investment in loans | |||||||||||||||||
Consumer Portfolio Segment [Member] | Home Equity and Second Mortgage [Member] | |||||||||||||||||
Beginning balance | 443 | 710 | 683 | 443 | 710 | 683 | |||||||||||
Provisions | 77 | (278) | 28 | ||||||||||||||
Charge-offs | (24) | (21) | (6) | ||||||||||||||
Recoveries | 19 | 32 | 5 | ||||||||||||||
Ending balance | 515 | 443 | 710 | 515 | 443 | 710 | |||||||||||
Individually evaluated for impairment | |||||||||||||||||
Collectively evaluated for impairment | 515 | 443 | |||||||||||||||
Acquired with deteriorated credit quality | 515 | 443 | 443 | 710 | 710 | 683 | 515 | 710 | 683 | 515 | 443 | ||||||
Individually evaluated for impairment | 56 | 35 | |||||||||||||||
Collectively evaluated for impairment | 55,932 | 52,968 | |||||||||||||||
Recorded investment in loans | 55,988 | 53,003 | |||||||||||||||
Consumer Portfolio Segment [Member] | Home Equity and Second Mortgage [Member] | Financial Asset Acquired with Credit Deterioration [Member] | |||||||||||||||||
Beginning balance | |||||||||||||||||
Ending balance | |||||||||||||||||
Acquired with deteriorated credit quality | |||||||||||||||||
Recorded investment in loans | |||||||||||||||||
Consumer Portfolio Segment [Member] | All Other Consumer Excluding Home Equity and Second Mortgage [Member] | |||||||||||||||||
Beginning balance | 683 | 414 | 683 | 414 | |||||||||||||
Provisions | 617 | 793 | |||||||||||||||
Charge-offs | (548) | (697) | |||||||||||||||
Recoveries | 196 | 173 | |||||||||||||||
Ending balance | 948 | 683 | 414 | 948 | 683 | 414 | |||||||||||
Individually evaluated for impairment | |||||||||||||||||
Collectively evaluated for impairment | 948 | 683 | |||||||||||||||
Acquired with deteriorated credit quality | 948 | 683 | 683 | 414 | 414 | 948 | 414 | 414 | 948 | 683 | |||||||
Individually evaluated for impairment | 48 | ||||||||||||||||
Collectively evaluated for impairment | 65,392 | 57,558 | |||||||||||||||
Recorded investment in loans | 65,440 | 57,558 | |||||||||||||||
Consumer Portfolio Segment [Member] | All Other Consumer Excluding Home Equity and Second Mortgage [Member] | Financial Asset Acquired with Credit Deterioration [Member] | |||||||||||||||||
Beginning balance | |||||||||||||||||
Ending balance | |||||||||||||||||
Acquired with deteriorated credit quality | |||||||||||||||||
Recorded investment in loans | |||||||||||||||||
Consumer Portfolio Segment [Member] | Other Consumer Loan [Member] | |||||||||||||||||
Beginning balance | 414 | 319 | 414 | 319 | |||||||||||||
Provisions | 663 | ||||||||||||||||
Charge-offs | (713) | ||||||||||||||||
Recoveries | 145 | ||||||||||||||||
Ending balance | 414 | 414 | |||||||||||||||
Acquired with deteriorated credit quality | $ 414 | $ 414 | $ 319 | $ 414 | $ 414 | ||||||||||||
Recorded investment in loans | $ 65,440 | $ 57,558 |
Note 4 - Loans and Allowance _8
Note 4 - Loans and Allowance for Loan Losses - Impaired Loans (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Recorded investment with no allowance | $ 2,558 | $ 3,533 | |
Unpaid principal balance with no allowance | 2,818 | 3,838 | |
Related allowance with no allowance | |||
Average recorded investment with no allowance | 3,154 | 3,198 | $ 3,378 |
Interest income recognized with no allowance | 62 | 55 | 48 |
Recorded investment with allowance | 189 | 252 | |
Unpaid principal balance with allowance | 211 | 258 | |
Related allowance | 16 | 48 | |
Average recorded investment with allowance | 239 | 288 | 214 |
Interest income recognized with allowance | |||
Recorded investment | 2,747 | 3,785 | |
Unpaid principal balance | 3,029 | 4,096 | |
Average recorded investment | 3,393 | 3,486 | 3,592 |
Interest income recognized | 62 | 55 | 48 |
Interest income recognized | 62 | 55 | 48 |
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | |||
Recorded investment with no allowance | 1,737 | 2,170 | |
Unpaid principal balance with no allowance | 1,986 | 2,409 | |
Related allowance with no allowance | |||
Average recorded investment with no allowance | 1,973 | 2,335 | 2,437 |
Interest income recognized with no allowance | 17 | 23 | 28 |
Recorded investment with allowance | 189 | 14 | |
Unpaid principal balance with allowance | 211 | 15 | |
Related allowance | 16 | 3 | |
Average recorded investment with allowance | 87 | 203 | 140 |
Interest income recognized with allowance | |||
Recorded investment | 1,926 | 2,184 | |
Unpaid principal balance | 2,197 | 2,424 | |
Average recorded investment | 2,060 | 2,538 | 2,577 |
Interest income recognized | 17 | 23 | 28 |
Interest income recognized | 17 | 23 | 28 |
Real Estate Mortgage Portfolio Segment [Member] | Land Loan [Member] | |||
Recorded investment with no allowance | 115 | 152 | |
Unpaid principal balance with no allowance | 117 | 153 | |
Related allowance with no allowance | |||
Average recorded investment with no allowance | 147 | 135 | |
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 | 115 | 152 | |
Unpaid principal balance | 117 | 153 | |
Average recorded investment | 147 | 135 | |
Interest income recognized | 2 | ||
Interest income recognized | 2 | ||
Real Estate Mortgage Portfolio Segment [Member] | Construction Loans [Member] | |||
Recorded investment with no allowance | 521 | ||
Unpaid principal balance with no allowance | 521 | ||
Related allowance with no allowance | |||
Average recorded investment with no allowance | 209 | 104 | |
Interest income recognized with no allowance | |||
Recorded investment with allowance | |||
Unpaid principal balance with allowance | |||
Related allowance | |||
Average recorded investment with allowance | |||
Interest income recognized with allowance | |||
Recorded investment | 521 | ||
Unpaid principal balance | 521 | ||
Average recorded investment | 209 | 104 | |
Interest income recognized | |||
Interest income recognized | |||
Real Estate Mortgage Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | |||
Recorded investment with no allowance | 353 | 255 | |
Unpaid principal balance with no allowance | 352 | 260 | |
Related allowance with no allowance | 1 | ||
Average recorded investment with no allowance | 446 | 325 | 686 |
Interest income recognized with no allowance | 33 | 16 | 16 |
Recorded investment with allowance | 211 | ||
Unpaid principal balance with allowance | 213 | ||
Related allowance | 44 | ||
Average recorded investment with allowance | 81 | 42 | |
Interest income recognized with allowance | |||
Recorded investment | 353 | 466 | |
Unpaid principal balance | 352 | 473 | |
Average recorded investment | 527 | 367 | 686 |
Interest income recognized | 33 | 16 | 16 |
Interest income recognized | 33 | 16 | 16 |
Commercial Portfolio Segment [Member] | |||
Recorded investment with no allowance | 249 | 400 | |
Unpaid principal balance with no allowance | 257 | 451 | |
Related allowance with no allowance | |||
Average recorded investment with no allowance | 330 | 237 | 57 |
Interest income recognized with no allowance | 11 | 14 | 1 |
Recorded investment with allowance | 27 | ||
Unpaid principal balance with allowance | 30 | ||
Related allowance | 1 | ||
Average recorded investment with allowance | 58 | 38 | 40 |
Interest income recognized with allowance | |||
Recorded investment | 249 | 427 | |
Unpaid principal balance | 257 | 481 | |
Average recorded investment | 388 | 275 | 97 |
Interest income recognized | 11 | 14 | 1 |
Interest income recognized | 11 | 14 | 1 |
Consumer Portfolio Segment [Member] | Home Equity and Second Mortgage [Member] | |||
Recorded investment with no allowance | 56 | 35 | |
Unpaid principal balance with no allowance | 56 | 44 | |
Related allowance with no allowance | |||
Average recorded investment with no allowance | 29 | 57 | 194 |
Interest income recognized with no allowance | 1 | 1 | 1 |
Recorded investment with allowance | |||
Unpaid principal balance with allowance | |||
Related allowance | |||
Average recorded investment with allowance | 13 | 5 | 20 |
Interest income recognized with allowance | |||
Recorded investment | 56 | 35 | |
Unpaid principal balance | 56 | 44 | |
Average recorded investment | 42 | 62 | 214 |
Interest income recognized | 1 | 1 | 1 |
Interest income recognized | 1 | 1 | 1 |
Consumer Portfolio Segment [Member] | All Other Consumer Excluding Home Equity and Second Mortgage [Member] | |||
Recorded investment with no allowance | 48 | ||
Unpaid principal balance with no allowance | 50 | ||
Related allowance with no allowance | |||
Average recorded investment with no allowance | 20 | 5 | 4 |
Interest income recognized with no allowance | 1 | ||
Recorded investment with allowance | |||
Unpaid principal balance with allowance | |||
Related allowance | |||
Average recorded investment with allowance | 14 | ||
Interest income recognized with allowance | |||
Recorded investment | 48 | ||
Unpaid principal balance | 50 | ||
Average recorded investment | 20 | 5 | 18 |
Interest income recognized | 1 | ||
Interest income recognized | $ 1 |
Note 4 - Loans and Allowance _9
Note 4 - Loans and Allowance for Loan Losses - Recorded Investment in Nonperforming Loans (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Total Nonperforming Loans | $ 6,258 | $ 6,911 |
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | ||
Total Nonperforming Loans | 4,406 | 4,732 |
Real Estate Mortgage Portfolio Segment [Member] | Land Loan [Member] | ||
Total Nonperforming Loans | 366 | 438 |
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 | 146 | 450 |
Commercial Portfolio Segment [Member] | ||
Total Nonperforming Loans | 119 | 522 |
Consumer Portfolio Segment [Member] | Home Equity and Second Mortgage [Member] | ||
Total Nonperforming Loans | 651 | 226 |
Consumer Portfolio Segment [Member] | All Other Consumer Excluding Home Equity and Second Mortgage [Member] | ||
Total Nonperforming Loans | 570 | 543 |
Nonperforming Financial Instruments [Member] | ||
Nonaccrual Loans | 1,765 | 3,055 |
Loans 90+ Days Past Due Still Accruing | 13 | 2 |
Total Nonperforming Loans | 1,778 | 3,057 |
Nonperforming Financial Instruments [Member] | Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | ||
Nonaccrual Loans | 1,544 | 1,769 |
Loans 90+ Days Past Due Still Accruing | 13 | |
Total Nonperforming Loans | 1,557 | 1,769 |
Nonperforming Financial Instruments [Member] | Real Estate Mortgage Portfolio Segment [Member] | Land Loan [Member] | ||
Nonaccrual Loans | 115 | 152 |
Loans 90+ Days Past Due Still Accruing | ||
Total Nonperforming Loans | 115 | 152 |
Nonperforming Financial Instruments [Member] | Real Estate Mortgage Portfolio Segment [Member] | Construction Loans [Member] | ||
Nonaccrual Loans | 521 | |
Loans 90+ Days Past Due Still Accruing | ||
Total Nonperforming Loans | 521 | |
Nonperforming Financial Instruments [Member] | Real Estate Mortgage Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | ||
Nonaccrual Loans | 371 | |
Loans 90+ Days Past Due Still Accruing | ||
Total Nonperforming Loans | 371 | |
Nonperforming Financial Instruments [Member] | Commercial Portfolio Segment [Member] | ||
Nonaccrual Loans | 58 | 207 |
Loans 90+ Days Past Due Still Accruing | ||
Total Nonperforming Loans | 58 | 207 |
Nonperforming Financial Instruments [Member] | Consumer Portfolio Segment [Member] | Home Equity and Second Mortgage [Member] | ||
Nonaccrual Loans | 35 | |
Loans 90+ Days Past Due Still Accruing | ||
Total Nonperforming Loans | 35 | |
Nonperforming Financial Instruments [Member] | Consumer Portfolio Segment [Member] | All Other Consumer Excluding Home Equity and Second Mortgage [Member] | ||
Nonaccrual Loans | 48 | |
Loans 90+ Days Past Due Still Accruing | 2 | |
Total Nonperforming Loans | $ 48 | $ 2 |
Note 4 - Loans and Allowance_10
Note 4 - Loans and Allowance for Loan Losses - Aging of Recorded Investment in Loans (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Past Due | $ 6,258 | $ 6,911 |
Current | 466,605 | 432,614 |
Loans | 473,187 | 439,855 |
Financial Asset Acquired with Credit Deterioration [Member] | ||
Loans | 324 | 330 |
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | ||
Past Due | 4,406 | 4,732 |
Current | 127,848 | 132,005 |
Loans | 132,539 | 137,019 |
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||
Loans | 285 | 282 |
Real Estate Mortgage Portfolio Segment [Member] | Land Loan [Member] | ||
Past Due | 366 | 438 |
Current | 18,948 | 22,306 |
Loans | 19,314 | 22,744 |
Real Estate Mortgage Portfolio Segment [Member] | Land Loan [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||
Loans | ||
Real Estate Mortgage Portfolio Segment [Member] | Construction Loans [Member] | ||
Past Due | ||
Current | 32,644 | 25,442 |
Loans | 32,644 | 25,442 |
Real Estate Mortgage Portfolio Segment [Member] | Construction Loans [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||
Loans | ||
Real Estate Mortgage Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | ||
Past Due | 146 | 450 |
Current | 121,628 | 107,174 |
Loans | 121,813 | 107,672 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||
Loans | 39 | 48 |
Commercial Portfolio Segment [Member] | ||
Past Due | 119 | 522 |
Current | 45,330 | 35,895 |
Loans | 45,449 | 36,417 |
Commercial Portfolio Segment [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||
Loans | ||
Consumer Portfolio Segment [Member] | Home Equity and Second Mortgage [Member] | ||
Past Due | 651 | 226 |
Current | 55,337 | 52,777 |
Loans | 55,988 | 53,003 |
Consumer Portfolio Segment [Member] | Home Equity and Second Mortgage [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||
Loans | ||
Consumer Portfolio Segment [Member] | All Other Consumer Excluding Home Equity and Second Mortgage [Member] | ||
Past Due | 570 | 543 |
Current | 64,870 | 57,015 |
Loans | 65,440 | 57,558 |
Consumer Portfolio Segment [Member] | All Other Consumer Excluding Home Equity and Second Mortgage [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||
Loans | ||
Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past Due | 3,717 | 4,373 |
Financial Asset, 30 to 59 Days Past Due [Member] | Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | ||
Past Due | 2,572 | 2,617 |
Financial Asset, 30 to 59 Days Past Due [Member] | Real Estate Mortgage Portfolio Segment [Member] | Land Loan [Member] | ||
Past Due | 185 | 247 |
Financial Asset, 30 to 59 Days Past Due [Member] | Real Estate Mortgage Portfolio Segment [Member] | Construction Loans [Member] | ||
Past Due | ||
Financial Asset, 30 to 59 Days Past Due [Member] | Real Estate Mortgage Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | ||
Past Due | 450 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial Portfolio Segment [Member] | ||
Past Due | 61 | 377 |
Financial Asset, 30 to 59 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Home Equity and Second Mortgage [Member] | ||
Past Due | 395 | 191 |
Financial Asset, 30 to 59 Days Past Due [Member] | Consumer Portfolio Segment [Member] | All Other Consumer Excluding Home Equity and Second Mortgage [Member] | ||
Past Due | 504 | 491 |
Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past Due | 1,393 | 1,015 |
Financial Asset, 60 to 89 Days Past Due [Member] | Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | ||
Past Due | 824 | 926 |
Financial Asset, 60 to 89 Days Past Due [Member] | Real Estate Mortgage Portfolio Segment [Member] | Land Loan [Member] | ||
Past Due | 101 | 39 |
Financial Asset, 60 to 89 Days Past Due [Member] | Real Estate Mortgage Portfolio Segment [Member] | Construction Loans [Member] | ||
Past Due | ||
Financial Asset, 60 to 89 Days Past Due [Member] | Real Estate Mortgage Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | ||
Past Due | 146 | |
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial Portfolio Segment [Member] | ||
Past Due | ||
Financial Asset, 60 to 89 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Home Equity and Second Mortgage [Member] | ||
Past Due | 256 | |
Financial Asset, 60 to 89 Days Past Due [Member] | Consumer Portfolio Segment [Member] | All Other Consumer Excluding Home Equity and Second Mortgage [Member] | ||
Past Due | 66 | 50 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past Due | 1,148 | 1,523 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | ||
Past Due | 1,010 | 1,189 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Real Estate Mortgage Portfolio Segment [Member] | Land Loan [Member] | ||
Past Due | 80 | 152 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Real Estate Mortgage Portfolio Segment [Member] | Construction Loans [Member] | ||
Past Due | ||
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Real Estate Mortgage Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | ||
Past Due | ||
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial Portfolio Segment [Member] | ||
Past Due | 58 | 145 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Home Equity and Second Mortgage [Member] | ||
Past Due | 35 | |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Consumer Portfolio Segment [Member] | All Other Consumer Excluding Home Equity and Second Mortgage [Member] | ||
Past Due | $ 2 |
Note 4 - Loans and Allowance_11
Note 4 - Loans and Allowance for Loan Losses - Recorded Investment in Loans by Risk Category (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Loans | $ 473,187 | $ 439,855 |
Pass [Member] | ||
Loans | 466,049 | 431,650 |
Special Mention [Member] | ||
Loans | 2,209 | 2,510 |
Substandard [Member] | ||
Loans | 3,164 | 2,569 |
Doubtful [Member] | ||
Loans | 1,765 | 3,126 |
Unlikely to be Collected Financing Receivable [Member] | ||
Loans | ||
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | ||
Loans | 132,539 | 137,019 |
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | Pass [Member] | ||
Loans | 129,613 | 133,878 |
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | Special Mention [Member] | ||
Loans | 46 | 133 |
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | Substandard [Member] | ||
Loans | 1,336 | 1,168 |
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | Doubtful [Member] | ||
Loans | 1,544 | 1,840 |
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 | 19,314 | 22,744 |
Real Estate Mortgage Portfolio Segment [Member] | Land Loan [Member] | Pass [Member] | ||
Loans | 18,805 | 22,458 |
Real Estate Mortgage Portfolio Segment [Member] | Land Loan [Member] | Special Mention [Member] | ||
Loans | 327 | 65 |
Real Estate Mortgage Portfolio Segment [Member] | Land Loan [Member] | Substandard [Member] | ||
Loans | 67 | 69 |
Real Estate Mortgage Portfolio Segment [Member] | Land Loan [Member] | Doubtful [Member] | ||
Loans | 115 | 152 |
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 | 32,644 | 25,442 |
Real Estate Mortgage Portfolio Segment [Member] | Construction Loans [Member] | Pass [Member] | ||
Loans | 32,394 | 24,921 |
Real Estate Mortgage Portfolio Segment [Member] | Construction Loans [Member] | Special Mention [Member] | ||
Loans | 250 | |
Real Estate Mortgage Portfolio Segment [Member] | Construction Loans [Member] | Substandard [Member] | ||
Loans | ||
Real Estate Mortgage Portfolio Segment [Member] | Construction Loans [Member] | Doubtful [Member] | ||
Loans | 521 | |
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 | 121,813 | 107,672 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | Pass [Member] | ||
Loans | 119,469 | 104,843 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | Special Mention [Member] | ||
Loans | 1,136 | 1,520 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | Substandard [Member] | ||
Loans | 1,208 | 938 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | Doubtful [Member] | ||
Loans | 371 | |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | Unlikely to be Collected Financing Receivable [Member] | ||
Loans | ||
Commercial Portfolio Segment [Member] | ||
Loans | 45,449 | 36,417 |
Commercial Portfolio Segment [Member] | Pass [Member] | ||
Loans | 44,879 | 35,162 |
Commercial Portfolio Segment [Member] | Special Mention [Member] | ||
Loans | 378 | 763 |
Commercial Portfolio Segment [Member] | Substandard [Member] | ||
Loans | 134 | 285 |
Commercial Portfolio Segment [Member] | Doubtful [Member] | ||
Loans | 58 | 207 |
Commercial Portfolio Segment [Member] | Unlikely to be Collected Financing Receivable [Member] | ||
Loans | ||
Consumer Portfolio Segment [Member] | Home Equity and Second Mortgage [Member] | ||
Loans | 55,988 | 53,003 |
Consumer Portfolio Segment [Member] | Home Equity and Second Mortgage [Member] | Pass [Member] | ||
Loans | 55,569 | 52,859 |
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 | 419 | 109 |
Consumer Portfolio Segment [Member] | Home Equity and Second Mortgage [Member] | Doubtful [Member] | ||
Loans | 35 | |
Consumer Portfolio Segment [Member] | Home Equity and Second Mortgage [Member] | Unlikely to be Collected Financing Receivable [Member] | ||
Loans | ||
Consumer Portfolio Segment [Member] | All Other Consumer Excluding Home Equity and Second Mortgage [Member] | ||
Loans | 65,440 | 57,558 |
Consumer Portfolio Segment [Member] | All Other Consumer Excluding Home Equity and Second Mortgage [Member] | Pass [Member] | ||
Loans | 65,320 | 57,529 |
Consumer Portfolio Segment [Member] | All Other Consumer Excluding Home Equity and Second Mortgage [Member] | Special Mention [Member] | ||
Loans | 72 | 29 |
Consumer Portfolio Segment [Member] | All Other Consumer Excluding Home Equity and Second Mortgage [Member] | Substandard [Member] | ||
Loans | ||
Consumer Portfolio Segment [Member] | All Other Consumer Excluding Home Equity and Second Mortgage [Member] | Doubtful [Member] | ||
Loans | 48 | |
Consumer Portfolio Segment [Member] | All Other Consumer Excluding Home Equity and Second Mortgage [Member] | Unlikely to be Collected Financing Receivable [Member] | ||
Loans |
Note 4 - Loans and Allowance_12
Note 4 - Loans and Allowance for Loan Losses - Troubled Debt Restructuring by Accrual Status (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Recorded investment in loans | $ 473,187 | $ 439,855 |
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | ||
Recorded investment in loans | 132,539 | 137,019 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | ||
Recorded investment in loans | 121,813 | 107,672 |
Commercial Portfolio Segment [Member] | ||
Recorded investment in loans | 45,449 | 36,417 |
Consumer Portfolio Segment [Member] | Home Equity and Second Mortgage [Member] | ||
Recorded investment in loans | 55,988 | 53,003 |
Nonperforming Financial Instruments [Member] | ||
TDR accruing | 1,166 | 703 |
TDR nonaccrual | 66 | 673 |
Recorded investment in loans | 1,232 | 1,376 |
TDR related allowance for loan losses | 44 | |
Nonperforming Financial Instruments [Member] | Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | ||
TDR accruing | 367 | 295 |
TDR nonaccrual | 66 | 302 |
Recorded investment in loans | 433 | 597 |
TDR related allowance for loan losses | ||
Nonperforming Financial Instruments [Member] | Real Estate Mortgage Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | ||
TDR accruing | 553 | 190 |
TDR nonaccrual | 371 | |
Recorded investment in loans | 553 | 561 |
TDR related allowance for loan losses | 44 | |
Nonperforming Financial Instruments [Member] | Commercial Portfolio Segment [Member] | ||
TDR accruing | 191 | 218 |
TDR nonaccrual | ||
Recorded investment in loans | 191 | 218 |
TDR related allowance for loan losses | ||
Nonperforming Financial Instruments [Member] | Consumer Portfolio Segment [Member] | Home Equity and Second Mortgage [Member] | ||
TDR accruing | 55 | |
TDR nonaccrual | ||
Recorded investment in loans | 55 | |
TDR related allowance for loan losses |
Note 4 - Loans and Allowance_13
Note 4 - Loans and Allowance for Loan Losses - Summary of PCI Loans (Details) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Carrying amount | $ 324,000 | $ 330,000 |
Allowance for loan losses | 12,000 | 0 |
312,000 | 330,000 | |
Residential Mortgage Segment [Member] | Residential Loan [Member] | ||
Carrying amount | 285,000 | 282,000 |
Residential Mortgage Segment [Member] | Commercial Real Estate Loan [Member] | ||
Carrying amount | $ 39,000 | $ 48,000 |
Note 4 - Loans and Allowance_14
Note 4 - Loans and Allowance for Loan Losses - Accretable Yield, or Income Expected to be Collected (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Beginning balance | $ 423 | $ 470 | $ 252 |
New loans acquired | |||
Accretion to income | (46) | (54) | (55) |
Disposals and other adjustments | (32) | (21) | |
Reclassification from nonaccretable difference | 26 | 42 | 294 |
Ending balance | $ 403 | $ 423 | $ 470 |
Note 5 - Premises and Equipme_3
Note 5 - Premises and Equipment (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Depreciation, Total | $ 923,000 | $ 1,100,000 | $ 1,100,000 |
Note 5 - Premises and Equipme_4
Note 5 - Premises and Equipment - Components of Premises and Equipment (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Land and land improvements | $ 5,297 | $ 5,297 |
Leasehold improvements | 134 | 134 |
Office buildings | 16,124 | 14,028 |
Furniture, fixtures and equipment | 6,689 | 6,135 |
28,244 | 25,594 | |
Less accumulated depreciation | 11,830 | 11,230 |
Totals | $ 16,414 | $ 14,364 |
Note 6 - Foreclosed Real Esta_3
Note 6 - Foreclosed Real Estate (Details Textual) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Real Estate Acquired Through Foreclosure | $ 170,000 | $ 3,142,000 | $ 3,971,000 | $ 4,674,000 |
Mortgage Loans in Process of Foreclosure, Amount | 319,000 | 365,000 | ||
Residential Real Estate, Physical Possession Obtained [Member] | ||||
Real Estate Acquired Through Foreclosure | $ 170,000 | $ 33,000 |
Note 6 - Foreclosed Real Esta_4
Note 6 - Foreclosed Real Estate - Foreclosed Real Estate Activity (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Beginning balance | $ 3,142 | $ 3,971 | $ 4,674 |
Transfers from loans to foreclosed real estate | 311 | 142 | 555 |
Direct write-downs | (284) | (419) | (263) |
Sales | (3,002) | (558) | (1,023) |
Capitalized expenses and other adjustments | 3 | 6 | 28 |
Ending balance | $ 170 | $ 3,142 | $ 3,971 |
Note 6 - Foreclosed Real Esta_5
Note 6 - Foreclosed Real Estate - Net Loss on Foreclosed Real Estate (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Net (gain) loss on sales | $ (114) | $ 23 | $ (3) |
Direct write-downs | 284 | 419 | 263 |
Operating expenses, net of income | 129 | 34 | 56 |
$ 299 | $ 476 | $ 316 |
Note 7 - Goodwill and Other I_3
Note 7 - Goodwill and Other Intangibles (Details Textual) - USD ($) | 12 Months Ended | ||||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2015 | Dec. 31, 2003 | |
Goodwill, Impairment Loss | $ 0 | $ 0 | $ 0 | ||
Finite-Lived Intangible Assets, Gross, Total | $ 1,400,000 | ||||
Amortization of Intangible Assets, Total | $ 147,000 | $ 147,000 | $ 147,000 | ||
Peoples Bancorp, Inc [Member] | |||||
Goodwill, Acquired During Period | $ 1,100,000 | ||||
Hometown Bancshares Incorporated [Member] | |||||
Goodwill, Acquired During Period | $ 5,400,000 |
Note 7 - Goodwill and Other I_4
Note 7 - Goodwill and Other Intangibles - Core Deposit Intangibles (Details) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2015 |
Core deposit intangible acquired in Peoples acquisition | $ 1,400,000 | ||
$ 819,000 | $ 966,000 | ||
Core Deposits [Member] | |||
Core deposit intangible acquired in Peoples acquisition | 1,418,000 | 1,418,000 | |
Less accumulated amortization | 599,000 | 452,000 | |
$ 819,000 | $ 966,000 |
Note 7 - Goodwill and Other I_5
Note 7 - Goodwill and Other Intangibles - Amortization for Core Deposit Intangible (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
2020 | $ 147 | |
2021 | 147 | |
2022 | 147 | |
2023 | 147 | |
2024 | 147 | |
2025 and thereafter | 84 | |
$ 819 | $ 966 |
Note 8 - Deposits (Details Text
Note 8 - Deposits (Details Textual) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Time Deposits, at or Above FDIC Insurance Limit | $ 5.8 | $ 4 |
Related Party Deposit Liabilities | $ 13.3 | $ 13.8 |
Note 8 - Deposits - Scheduled M
Note 8 - Deposits - Scheduled Maturities of Time Deposits (Details) $ in Thousands | Dec. 31, 2019USD ($) |
2020 | $ 33,861 |
2021 | 17,117 |
2022 | 6,747 |
2023 | 6,009 |
2024 | 5,122 |
Total | $ 68,856 |
Note 9 - Lines of Credit (Detai
Note 9 - Lines of Credit (Details Textual) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 04, 2015 |
The Bankers' Bank of Kentucky [Member] | |||
Line of Credit Facility, Maximum Borrowing Capacity | $ 5,000 | ||
Long-term Line of Credit, Total | $ 0 | $ 0 | |
Stock Yards & Trust Company [Member] | Revolving Credit Facility [Member] | |||
Line of Credit Facility, Maximum Borrowing Capacity | 2,000 | ||
Long-term Line of Credit, Total | $ 0 | $ 0 |
Note 10 - Advances from Feder_2
Note 10 - Advances from Federal Home Loan Bank (Details Textual) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Advances from Federal Home Loan Banks, Total | $ 0 | $ 0 |
Residential Mortgage Segment [Member] | ||
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Collateral Pledged | $ 69,700 |
Note 11 - Lease Commitments (De
Note 11 - Lease Commitments (Details Textual) - USD ($) | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2015 | |
Lessee, Operating Lease, Renewal Term | 1 year | |||
Operating Lease, Expense | $ 58,000 | $ 93,000 | $ 98,000 | |
Branch Office Space Beginning April 2015 [Member] | ||||
Lessee, Operating Lease, Annual Lease Payments | $ 19,000 | |||
Lessee, Operating Lease, Liability, Payments, Due Next Twelve Months | $ 5,000 |
Note 12 - Income Taxes (Details
Note 12 - Income Taxes (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | 21.00% | 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, Ending Balance | $ 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 | $ 191,000 | |
Open Tax Year | 2016 2017 2018 2019 | ||
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 |
Note 12 - Income Taxes - Compon
Note 12 - Income Taxes - Components of Income Tax Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Current | $ 1,505 | $ 1,789 | $ 2,755 | ||||||||||||
Deferred | 482 | (395) | 348 | ||||||||||||
Totals | $ 440 | $ 537 | $ 568 | $ 442 | $ 216 | $ 530 | $ 287 | $ 361 | $ 928 | $ 825 | $ 835 | $ 515 | $ 1,987 | $ 1,394 | $ 3,103 |
Note 12 - Income Taxes - Reconc
Note 12 - Income Taxes - Reconciliation of Income Tax Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Provision at federal statutory tax rate | $ 2,588 | $ 2,239 | $ 3,589 | ||||||||||||
State income tax-net of federal tax benefit | 121 | 100 | 91 | ||||||||||||
Revaluation of net deferred tax asset due to change in federal income tax rate | 290 | ||||||||||||||
Tax-exempt interest income | (379) | (328) | (507) | ||||||||||||
Bank-owned life insurance income | (44) | (67) | (73) | ||||||||||||
Captive insurance net premiums | (209) | (195) | (290) | ||||||||||||
Investment in tax credit entities | (114) | (272) | |||||||||||||
Other | 24 | (83) | 3 | ||||||||||||
Totals | $ 440 | $ 537 | $ 568 | $ 442 | $ 216 | $ 530 | $ 287 | $ 361 | $ 928 | $ 825 | $ 835 | $ 515 | $ 1,987 | $ 1,394 | $ 3,103 |
Effective tax rate | 16.10% | 13.10% | 29.40% |
Note 12 - Income Taxes - Deferr
Note 12 - Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Deferred tax assets (liabilities): | ||
Deferred compensation plans | $ 101 | $ 115 |
Allowance for loan losses | 1,122 | 855 |
Unrealized loss on securities available for sale | 1,118 | |
Unrealized loss on equity securities | 42 | 49 |
Restricted stock | 48 | 31 |
Valuation allowance on foreclosed real estate | 174 | |
Interest on nonaccrual loans | 185 | 215 |
Other | 21 | 39 |
Deferred tax assets | 1,519 | 2,596 |
Unrealized gain on securities available for sale | (601) | |
Depreciation | (691) | (491) |
Deferred loan fees and costs | (247) | (246) |
FHLB stock dividends | (35) | (36) |
Prepaid expenses | (276) | (232) |
Acquisition purchase accounting adjustments | (419) | (125) |
Other | (8) | (23) |
Deferred tax liabilities | (2,277) | (1,153) |
Net deferred tax liability | $ (758) | |
Net deferred tax asset | $ 1,443 |
Note 13 - Employee Benefit Pl_2
Note 13 - Employee Benefit Plans (Details Textual) - USD ($) | Dec. 31, 1998 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Defined Contribution Plan, Employer Discretionary Contribution Amount | $ 574,000 | $ 520,000 | $ 478,000 | |
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 | 52,200 | 52,455 |
Note 14 - Deferred Compensati_2
Note 14 - Deferred Compensation Plans (Details Textual) | 12 Months Ended | ||
Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | |
Officer [Member] | |||
Deferred Compensation Liability, Current and Noncurrent, Total | $ 259,000 | $ 296,000 | |
Deferred Compensation Arrangement with Individual, Compensation Expense | $ 15,000 | 17,000 | $ 19,000 |
Director [Member] | |||
Deferred Compensation Arrangement with Individual, Maximum Contractual Term | 15 years | ||
Deferred Compensation Liability, Current and Noncurrent, Total | $ 148,000 | 153,000 | |
Deferred Compensation Arrangement with Individual, Compensation Expense | $ 17,000 | $ 18,000 | $ 19,000 |
Peoples Bancorp, Inc [Member] | |||
Number of Key Employees | 3 | ||
Deferred Compensation Arrangement with Individual, Maximum Contractual Term | 10 years |
Note 15 - Stock-based Compens_3
Note 15 - Stock-based Compensation Plan (Details Textual) - USD ($) | Feb. 18, 2020 | Feb. 19, 2019 | Feb. 20, 2018 | Feb. 17, 2015 | May 20, 2009 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | May 22, 2019 | May 20, 2019 |
Restricted Stock [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 9,750 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 52.09 | |||||||||
Share-based Payment Arrangement, Expense | $ 288,000 | $ 192,000 | $ 89,000 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | 6,900 | 4,200 | 3,500 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value | $ 353,000 | $ 171,000 | $ 109,000 | |||||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 940,000 | |||||||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition | 3 years 292 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 | 9,750 | 20,000 | 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 | $ 52.09 | $ 37.42 | $ 24.50 | |||||||
Stock Issued During Period, Value, Restricted Stock Award, Gross | $ 508,000 | $ 748,000 | $ 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 | 14,250 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 67.43 | |||||||||
Stock Issued During Period, Value, Restricted Stock Award, Gross | $ 961,000 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 5 years | |||||||||
Restricted Stock [Member] | Officers, Directors and Key Employees [Member] | Share-based Payment Arrangement, Tranche One [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 20.00% | |||||||||
Restricted Stock [Member] | Officers, Directors and Key Employees [Member] | Vesting Each Year on July 1, Beginning in 2019 [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 20.00% | |||||||||
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 | 176,150 | |||||||||
Equity Incentive Plan 2019 [Member] | ||||||||||
Maximum Fair Value of First Exercisable Stock Incentive Options | $ 100,000 | |||||||||
Equity Incentive Plan 2019 [Member] | Common Stock [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 176,150 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 176,150 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | |||||||||
Equity Incentive Plans [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 0 |
Note 15 - Stock-based Compens_4
Note 15 - Stock-based Compensation Plan - Summary of Nonvested Restricted Shares (Details) - Restricted Stock [Member] - $ / shares | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Nonvested, number of shares (in shares) | 24,900 | ||
Nonvested, weight average grant date fair value (in dollars per share) | $ 34.10 | ||
Granted, number of shares (in shares) | 9,750 | ||
Granted, weight average grant date fair value (in dollars per share) | $ 52.09 | ||
Vested, number of shares (in shares) | (6,900) | (4,200) | (3,500) |
Vested, weight average grant date fair value (in dollars per share) | $ 31.43 | ||
Forfeited, number of shares (in shares) | |||
Forfeited, weight average grant date fair value (in dollars per share) | |||
Nonvested, number of shares (in shares) | 27,750 | 24,900 | |
Nonvested, weight average grant date fair value (in dollars per share) | $ 41.08 | $ 34.10 |
Note 16 - Commitments and Con_3
Note 16 - Commitments and Contingencies - Commitments to Extend Credit (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Fixed rate | $ 3,250 | $ 4,946 |
Adjustable rate | 10,996 | 930 |
Commitments to extend credit | 121,525 | 114,428 |
Standby Letters of Credit [Member] | ||
Commitments to extend credit | 473 | 1,295 |
Unused Lines of Credit On Credit Cards [Member] | ||
Commitments to extend credit | 6,915 | 6,641 |
Undisbursed Commercial and Personal Lines of Credit [Member] | ||
Commitments to extend credit | 26,800 | 26,862 |
Undisbursed Portion of Construction Loans in Process [Member] | ||
Commitments to extend credit | 23,081 | 26,675 |
Undisbursed Portion of Home Equity Lines of Credit [Member] | ||
Commitments to extend credit | $ 50,010 | $ 47,079 |
Note 18 - Regulatory Matters (D
Note 18 - Regulatory Matters (Details Textual) | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2015 |
Capital Conservation Buffer Phase In Amount | 2.50% | 0.00% | |
Capital Conservation Buffer | 2.50% | 1.875% |
Note 18 - Regulatory Matters -
Note 18 - Regulatory Matters - Actual Capital Amounts and Ratios (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Total capital (to risk weighted assets) actual amount | $ 86,662 | $ 79,406 |
Total capital (to risk weighted assets) actual ratio | 14.90% | 14.62% |
Total capital (to risk weighted assets) minimum amount for capital adequacy purposes | $ 61,078 | $ 53,626 |
Total capital (to risk weighted assets) minimum ratio for capital adequacy purposes | 10.50% | 9.875% |
Total capital (to risk weighted assets) minimum amount to be well capitalized under prompt corrective action provisions | $ 58,169 | $ 54,304 |
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) | $ 81,601 | $ 75,341 |
Tier I capital (to risk weighted assets) actual ratio | 14.03% | 13.87% |
Tier I capital (to risk weighted assets) minimum amount for capital adequacy purposes | $ 49,444 | $ 42,765 |
Tier I capital (to risk weighted assets) minimum ratio for capital adequacy purposes | 8.50% | 7.875% |
Tier I capital (to risk weighted assets) minimum amount to be well capitalized under prompt corrective action provisions | $ 46,536 | $ 43,444 |
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) | $ 81,601 | $ 75,341 |
Common equity Tier I capital (to risk weighted assets) actual ratio | 14.03% | 13.87% |
Common equity Tier I capital (to risk weighted assets) minimum amount for capital adequacy purposes | $ 40,719 | $ 34,619 |
Common equity Tier I capital (to risk weighted assets) minimum ratio for capital adequacy purposes | 7.00% | 6.375% |
Common equity Tier I capital (to risk weighted assets) minimum amount to be well capitalized under prompt corrective action provisions | $ 37,810 | $ 35,298 |
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) | $ 81,601 | $ 75,341 |
Tier I capital (to average assets) actual ratio | 10.01% | 9.57% |
Tier I capital (to average assets) minimum amount for capital adequacy purposes | $ 32,599 | $ 31,478 |
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 | $ 40,749 | $ 39,347 |
Tier I capital (to average assets) minimum ratio to be well capitalized under prompt corrective action provisions | 5.00% | 5.00% |
Note 19 - Fair Value Measurem_3
Note 19 - Fair Value Measurements (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Financial and Nonfinancial Liabilities, Fair Value Disclosure | $ 0 | ||
Foreclosed Real Estate [Member] | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Write-down or Reserve, Amount | 284,000 | $ 419,000 | $ 263,000 |
Fair Value, Inputs, Level 3 [Member] | Impaired Loan [Member] | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Write-down or Reserve, Amount | $ 22,000 | $ 231,000 | $ 39,000 |
Fair Value, Inputs, Level 3 [Member] | Impaired Loan [Member] | Minimum [Member] | |||
Fair Value Inputs, Estimated Selling Costs | 40.00% | 20.00% | |
Fair Value, Inputs, Level 3 [Member] | Impaired Loan [Member] | Maximum [Member] | |||
Fair Value Inputs, Estimated Selling Costs | 66.00% | 62.00% | |
Fair Value, Inputs, Level 3 [Member] | Impaired Loan [Member] | Weighted Average [Member] | |||
Fair Value Inputs, Estimated Selling Costs | 47.00% | 39.00% | |
Fair Value, Inputs, Level 3 [Member] | Foreclosed Real Estate [Member] | |||
Fair Value Inputs, Estimated Selling Costs | 38.00% | ||
Fair Value, Inputs, Level 3 [Member] | Foreclosed Real Estate [Member] | Minimum [Member] | |||
Fair Value Inputs, Estimated Selling Costs | 10.00% | ||
Fair Value, Inputs, Level 3 [Member] | Foreclosed Real Estate [Member] | Maximum [Member] | |||
Fair Value Inputs, Estimated Selling Costs | 79.00% | ||
Fair Value, Inputs, Level 3 [Member] | Foreclosed Real Estate [Member] | Weighted Average [Member] | |||
Fair Value Inputs, Estimated Selling Costs | 51.00% |
Note 19 - Fair Value Measurem_4
Note 19 - Fair Value Measurements - Assets Measured at Fair Value on Recurring and Nonrecurring Basis (Details) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Securities available for sale | $ 254,562,000 | $ 261,841,000 |
Equity securities (included in other assets) | 1,700,000 | 1,700,000 |
Other Consumer Loan [Member] | ||
Impaired loans | 48,000 | |
Fair Value, Recurring [Member] | ||
Securities available for sale | 254,562,000 | 261,841,000 |
Equity securities (included in other assets) | 1,746,000 | 1,715,000 |
Fair Value, Recurring [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Securities available for sale | 69,498,000 | 91,257,000 |
Fair Value, Recurring [Member] | Agency Collateralized Mortgage Obligations [Member] | ||
Securities available for sale | 43,084,000 | 32,992,000 |
Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | ||
Securities available for sale | 64,556,000 | 74,504,000 |
Fair Value, Recurring [Member] | Municipal Notes [Member] | ||
Securities available for sale | 77,424,000 | 63,088,000 |
Fair Value, Nonrecurring [Member] | ||
Impaired loans | 2,731,000 | 3,737,000 |
Loans held for sale | 4,176,000 | 2,849,000 |
Foreclosed real estate | 170,000 | 3,142,000 |
Fair Value, Nonrecurring [Member] | Residential Mortgage Segment [Member] | ||
Impaired loans | 1,910,000 | 2,181,000 |
Foreclosed real estate | 170,000 | 33,000 |
Fair Value, Nonrecurring [Member] | Land Segment [Member] | ||
Impaired loans | 115,000 | 152,000 |
Fair Value, Nonrecurring [Member] | Commercial Real Estate Segment [Member] | ||
Impaired loans | 353,000 | 422,000 |
Foreclosed real estate | 3,109,000 | |
Fair Value, Nonrecurring [Member] | Residential Construction [Member] | ||
Impaired loans | 521,000 | |
Fair Value, Nonrecurring [Member] | Commercial Business Segment [Member] | ||
Impaired loans | 249,000 | 426,000 |
Fair Value, Nonrecurring [Member] | Home Equity and Second Mortgage [Member] | ||
Impaired loans | 56,000 | 35,000 |
Fair Value, Inputs, Level 1 [Member] | Other Consumer Loan [Member] | ||
Impaired loans | ||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member] | ||
Securities available for sale | ||
Equity securities (included in other assets) | 1,746,000 | 1,715,000 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Securities available for sale | ||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member] | Agency Collateralized Mortgage Obligations [Member] | ||
Securities available for sale | ||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | ||
Securities available for sale | ||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member] | Municipal Notes [Member] | ||
Securities available for sale | ||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Nonrecurring [Member] | ||
Impaired loans | ||
Loans held for sale | ||
Foreclosed real estate | ||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Nonrecurring [Member] | Residential Mortgage Segment [Member] | ||
Impaired loans | ||
Foreclosed real estate | ||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Nonrecurring [Member] | Land Segment [Member] | ||
Impaired loans | ||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Nonrecurring [Member] | Commercial Real Estate Segment [Member] | ||
Impaired loans | ||
Foreclosed real estate | ||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Nonrecurring [Member] | Residential Construction [Member] | ||
Impaired loans | ||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Nonrecurring [Member] | Commercial Business Segment [Member] | ||
Impaired loans | ||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Nonrecurring [Member] | Home Equity and Second Mortgage [Member] | ||
Impaired loans | ||
Fair Value, Inputs, Level 2 [Member] | Other Consumer Loan [Member] | ||
Impaired loans | ||
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | ||
Securities available for sale | 254,562,000 | 261,841,000 |
Equity securities (included in other assets) | ||
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Securities available for sale | 69,498,000 | 91,257,000 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | Agency Collateralized Mortgage Obligations [Member] | ||
Securities available for sale | 43,084,000 | 32,992,000 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | ||
Securities available for sale | 64,556,000 | 74,504,000 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | Municipal Notes [Member] | ||
Securities available for sale | 77,424,000 | 63,088,000 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Nonrecurring [Member] | ||
Impaired loans | ||
Loans held for sale | 4,176,000 | 2,849,000 |
Foreclosed real estate | ||
Fair Value, Inputs, Level 2 [Member] | Fair Value, Nonrecurring [Member] | Residential Mortgage Segment [Member] | ||
Impaired loans | ||
Foreclosed real estate | ||
Fair Value, Inputs, Level 2 [Member] | Fair Value, Nonrecurring [Member] | Land Segment [Member] | ||
Impaired loans | ||
Fair Value, Inputs, Level 2 [Member] | Fair Value, Nonrecurring [Member] | Commercial Real Estate Segment [Member] | ||
Impaired loans | ||
Foreclosed real estate | ||
Fair Value, Inputs, Level 2 [Member] | Fair Value, Nonrecurring [Member] | Residential Construction [Member] | ||
Impaired loans | ||
Fair Value, Inputs, Level 2 [Member] | Fair Value, Nonrecurring [Member] | Commercial Business Segment [Member] | ||
Impaired loans | ||
Fair Value, Inputs, Level 2 [Member] | Fair Value, Nonrecurring [Member] | Home Equity and Second Mortgage [Member] | ||
Impaired loans | ||
Fair Value, Inputs, Level 3 [Member] | Other Consumer Loan [Member] | ||
Impaired loans | 48,000 | |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member] | ||
Securities available for sale | ||
Equity securities (included in other assets) | ||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Securities available for sale | ||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member] | Agency Collateralized Mortgage Obligations [Member] | ||
Securities available for sale | ||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | ||
Securities available for sale | ||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member] | Municipal Notes [Member] | ||
Securities available for sale | ||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member] | ||
Impaired loans | 2,731,000 | 3,737,000 |
Loans held for sale | ||
Foreclosed real estate | 170,000 | 3,142,000 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member] | Residential Mortgage Segment [Member] | ||
Impaired loans | 1,910,000 | 2,181,000 |
Foreclosed real estate | 170,000 | 33,000 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member] | Land Segment [Member] | ||
Impaired loans | 115,000 | 152,000 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member] | Commercial Real Estate Segment [Member] | ||
Impaired loans | 353,000 | 422,000 |
Foreclosed real estate | 3,109,000 | |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member] | Residential Construction [Member] | ||
Impaired loans | 521,000 | |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member] | Commercial Business Segment [Member] | ||
Impaired loans | 249,000 | 426,000 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member] | Home Equity and Second Mortgage [Member] | ||
Impaired loans | $ 56,000 | $ 35,000 |
Note 20 - Disclosures About F_3
Note 20 - Disclosures About Fair Value of Financial Instruments - Carrying Value and Estimated Fair Value of Financial Instruments (Details) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Securities available for sale, fair value | $ 254,562,000 | $ 261,841,000 |
Equity securities (included in other assets) | 1,700,000 | 1,700,000 |
Reported Value Measurement [Member] | ||
Cash and cash equivalents | 51,360,000 | 41,112,000 |
Interest-bearing time deposits | 6,490,000 | 7,710,000 |
Securities available for sale, fair value | 254,562,000 | 261,841,000 |
Loans held for sale | 4,176,000 | 2,849,000 |
Loans, net | 466,694,000 | 434,260,000 |
FHLB and other restricted stock | 1,988,000 | 1,988,000 |
Accrued interest receivable | 3,076,000 | 2,828,000 |
Equity securities (included in other assets) | 1,746,000 | 1,715,000 |
Deposits | 722,177,000 | 701,646,000 |
Accrued interest payable | 210,000 | 150,000 |
Estimate of Fair Value Measurement [Member] | ||
Cash and cash equivalents | 51,360,000 | 41,112,000 |
Interest-bearing time deposits | 6,654,000 | 7,650,000 |
Securities available for sale, fair value | 254,562,000 | 261,841,000 |
Loans held for sale | 4,243,000 | 2,900,000 |
Loans, net | 482,119,000 | 427,200,000 |
FHLB and other restricted stock | ||
Accrued interest receivable | 3,076,000 | 2,828,000 |
Equity securities (included in other assets) | 1,746,000 | 1,715,000 |
Deposits | 721,729,000 | 699,864,000 |
Accrued interest payable | 210,000 | 150,000 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash and cash equivalents | 51,360,000 | 41,112,000 |
Interest-bearing time deposits | ||
Securities available for sale, fair value | ||
Loans held for sale | ||
Loans, net | ||
FHLB and other restricted stock | ||
Accrued interest receivable | ||
Equity securities (included in other assets) | 1,746,000 | 1,715,000 |
Deposits | ||
Accrued interest payable | ||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Cash and cash equivalents | ||
Interest-bearing time deposits | 6,654,000 | 7,650,000 |
Securities available for sale, fair value | 254,562,000 | 261,841,000 |
Loans held for sale | 4,243,000 | 2,900,000 |
Loans, net | ||
FHLB and other restricted stock | ||
Accrued interest receivable | 3,076,000 | 2,828,000 |
Equity securities (included in other assets) | ||
Deposits | ||
Accrued interest payable | 210,000 | 150,000 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Cash and cash equivalents | ||
Interest-bearing time deposits | ||
Securities available for sale, fair value | ||
Loans held for sale | ||
Loans, net | 482,119,000 | 427,200,000 |
FHLB and other restricted stock | ||
Accrued interest receivable | ||
Equity securities (included in other assets) | ||
Deposits | 721,729,000 | 699,864,000 |
Accrued interest payable |
Note 21 - Revenue From Contra_3
Note 21 - Revenue From Contracts With Customers - Noninterest Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Noninterest income, financial service | $ 5,528 | $ 5,255 | $ 4,966 | ||||||||||||
Net gains on loans and investments | 1,076 | 528 | 1,439 | ||||||||||||
Increase in cash value of life insurance | 211 | 227 | 197 | ||||||||||||
Other | 111 | 158 | 96 | ||||||||||||
Other noninterest income | 1,398 | 913 | 1,732 | ||||||||||||
Total noninterest income | $ 1,820 | $ 1,833 | $ 1,768 | $ 1,505 | $ 1,208 | $ 1,698 | $ 1,736 | $ 1,526 | $ 1,641 | $ 1,748 | $ 1,856 | $ 1,453 | 6,926 | 6,168 | 6,698 |
Net (gain) loss on sales of foreclosed real estate | (114) | 23 | (3) | ||||||||||||
Deposit Account [Member] | |||||||||||||||
Noninterest income, financial service | 2,088 | 2,177 | 2,098 | ||||||||||||
ATM and Debit Card Fees [Member] | |||||||||||||||
Noninterest income, financial service | 2,812 | 2,564 | 2,329 | ||||||||||||
Investment Advisory, Management and Administrative Service [Member] | |||||||||||||||
Noninterest income, financial service | 504 | 386 | 416 | ||||||||||||
Product and Service, Other [Member] | |||||||||||||||
Noninterest income, financial service | $ 124 | $ 128 | $ 123 |
Note 22 - Qualified Affordabl_2
Note 22 - Qualified Affordable Housing Project Investment (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Tax Credits and Other Tax Benefits | $ 497,000 | $ 393,000 |
Income Tax Expense (Benefit) [Member] | ||
Investment Amortization | 361,000 | 329,000 |
Other Assets [Member] | ||
Investments, Total | 3,200,000 | 3,600,000 |
Other Liabilities [Member] | ||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unfunded Commitments | $ 1,900,000 | $ 2,900,000 |
Note 23 - Parent Company Cond_3
Note 23 - Parent Company Condensed Financial Information - Condensed Balance Sheets (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Other assets | $ 7,206 | $ 8,571 | ||
827,496 | 794,162 | |||
Stockholders' equity | 98,836 | 85,844 | ||
827,496 | 794,162 | |||
Parent Company [Member] | ||||
Cash and cash equivalents | 3,847 | 2,845 | $ 1,850 | $ 727 |
Other assets | 2,110 | 2,039 | ||
Investment in subsidiaries | 92,879 | 80,960 | ||
98,836 | 85,844 | |||
Accrued expenses | ||||
Stockholders' equity | 98,836 | 85,844 | ||
$ 98,836 | $ 85,844 |
Note 23 - Parent Company Cond_4
Note 23 - Parent Company Condensed Financial Information - Condensed Statements of Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Other income | $ 103 | $ 97 | $ 78 | ||||||||||||
Income (loss) on equity securities | 32 | (207) | |||||||||||||
Other operating expenses | (3,418) | (3,528) | (3,448) | ||||||||||||
Income tax benefit | $ (440) | $ (537) | $ (568) | $ (442) | $ (216) | $ (530) | $ (287) | $ (361) | $ (928) | $ (825) | $ (835) | $ (515) | (1,987) | (1,394) | (3,103) |
Net income | $ 2,403 | $ 2,915 | $ 2,860 | $ 2,147 | $ 2,496 | $ 2,524 | $ 2,100 | $ 2,133 | $ 1,587 | $ 2,109 | $ 2,190 | $ 1,553 | 10,325 | 9,253 | 7,439 |
Parent Company [Member] | |||||||||||||||
Dividend income from subsidiaries | 4,450 | 6,297 | 4,175 | ||||||||||||
Other income | 59 | 16 | 4 | ||||||||||||
Income (loss) on equity securities | 32 | (207) | |||||||||||||
Other operating expenses | (714) | (587) | (383) | ||||||||||||
Income before income taxes and equity in undistributed net income of subsidiaries | 3,827 | 5,519 | 3,796 | ||||||||||||
Income tax benefit | 199 | 210 | 147 | ||||||||||||
Income before equity in undistributed net income of subsidiaries | (4,026) | (5,729) | (3,943) | ||||||||||||
Equity in undistributed net income of subsidiaries | (6,299) | (3,524) | (3,496) | ||||||||||||
Net income | $ 10,325 | $ 9,253 | $ 7,439 |
Note 23 - Parent Company Cond_5
Note 23 - Parent Company Condensed Financial Information - Condensed Statements of Cash Flows (Details) - USD ($) | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Operating Activities: | |||||||||||||||
Net income | $ 2,406,000 | $ 2,918,000 | $ 2,864,000 | $ 2,150,000 | $ 2,499,000 | $ 2,527,000 | $ 2,104,000 | $ 2,136,000 | $ 1,590,000 | $ 2,112,000 | $ 2,194,000 | $ 1,556,000 | $ 10,338,000 | $ 9,266,000 | $ 7,452,000 |
Adjustments to reconcile net income to cash and cash equivalents provided by operating activities: | |||||||||||||||
Stock compensation expense | 288,000 | 192,000 | 88,000 | ||||||||||||
Unrealized (gain) loss on equity securities | 207,000 | ||||||||||||||
Net change in other assets and liabilities | 14,077,000 | 13,348,000 | 13,419,000 | ||||||||||||
Financing Activities: | |||||||||||||||
Purchase of treasury stock | (2,000) | (32,000) | (16,000) | ||||||||||||
Taxes paid on stock award shares for employees | 42,000 | 2,000 | 2,000 | ||||||||||||
Cash dividends paid | (3,209,000) | (3,101,000) | (2,883,000) | ||||||||||||
Parent Company [Member] | |||||||||||||||
Operating Activities: | |||||||||||||||
Net income | 10,325,000 | 9,253,000 | 7,439,000 | ||||||||||||
Adjustments to reconcile net income to cash and cash equivalents provided by operating activities: | |||||||||||||||
Equity in undistributed net income of subsidiaries | (6,299,000) | (3,524,000) | (3,496,000) | ||||||||||||
Stock compensation expense | 288,000 | 192,000 | 88,000 | ||||||||||||
Unrealized (gain) loss on equity securities | (32,000) | 207,000 | |||||||||||||
Net change in other assets and liabilities | (40,000) | (89,000) | (20,000) | ||||||||||||
Net cash provided by operating activities | 4,242,000 | 6,039,000 | 4,011,000 | ||||||||||||
Investing Activities: | |||||||||||||||
Purchase of equity investment | (1,922,000) | ||||||||||||||
Net cash used in investing activities | (1,922,000) | ||||||||||||||
Financing Activities: | |||||||||||||||
Purchase of treasury stock | (2,000) | (32,000) | (16,000) | ||||||||||||
Taxes paid on stock award shares for employees | 42,000 | 2,000 | 2,000 | ||||||||||||
Cash dividends paid | (3,196,000) | (3,088,000) | (2,870,000) | ||||||||||||
Net cash used in financing activities | (3,240,000) | (3,122,000) | (2,888,000) | ||||||||||||
Net increase in cash and cash equivalents | 1,002,000 | 995,000 | 1,123,000 | ||||||||||||
Cash and cash equivalents at beginning of year | $ 2,845,000 | $ 1,850,000 | $ 727,000 | 2,845,000 | 1,850,000 | 727,000 | |||||||||
Cash and cash equivalents at end of year | $ 3,847,000 | $ 2,845,000 | $ 1,850,000 | $ 3,847,000 | $ 2,845,000 | $ 1,850,000 |
Note 24 - Supplemental Disclo_3
Note 24 - Supplemental Disclosure of Cash Flow Information - Supplemental Disclosures of Cash Flow Information (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Interest | $ 1,900 | $ 1,570 | $ 1,466 |
Income taxes (net of refunds received) | 1,367 | 1,611 | 3,010 |
Transfers from loans to foreclosed real estate | 311 | 142 | 555 |
Proceeds from sales of foreclosed real estate financed through loans | $ 15 |
Note 25 - Supplemental Disclo_3
Note 25 - Supplemental Disclosure for Earnings Per Share (Details Textual) - shares shares in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Restricted Stock [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 0 | 0 | 0 |
Note 25 - Supplemental Disclo_4
Note 25 - 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, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Net income | $ 2,403 | $ 2,915 | $ 2,860 | $ 2,147 | $ 2,496 | $ 2,524 | $ 2,100 | $ 2,133 | $ 1,587 | $ 2,109 | $ 2,190 | $ 1,553 | $ 10,325 | $ 9,253 | $ 7,439 |
Weighted average common shares outstanding (in shares) | 3,332,869 | 3,328,422 | 3,325,032 | ||||||||||||
Basic (in dollars per share) | $ 0.72 | $ 0.87 | $ 0.86 | $ 0.64 | $ 0.75 | $ 0.76 | $ 0.63 | $ 0.64 | $ 0.49 | $ 0.63 | $ 0.66 | $ 0.46 | $ 3.10 | $ 2.78 | $ 2.24 |
Add: Dilutive effect of restricted stock (in shares) | 11,203 | 6,972 | 4,531 | ||||||||||||
Weighted average common shares outstanding, as adjusted (in shares) | 3,344,072 | 3,335,394 | 3,329,563 | ||||||||||||
Diluted (in dollars per share) | $ 0.72 | $ 0.87 | $ 0.86 | $ 0.64 | $ 0.75 | $ 0.76 | $ 0.63 | $ 0.64 | $ 0.48 | $ 0.63 | $ 0.66 | $ 0.46 | $ 3.09 | $ 2.77 | $ 2.23 |
Note 26 - Selected Quarterly _3
Note 26 - Selected Quarterly Financial Information (Unaudited) - Selected Quarterly Financial Information (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Interest income | $ 7,957 | $ 8,220 | $ 8,219 | $ 7,658 | $ 7,626 | $ 7,433 | $ 7,063 | $ 6,764 | $ 6,773 | $ 6,728 | $ 6,578 | $ 6,343 | $ 32,054 | $ 28,886 | $ 26,422 |
Interest expense | 510 | 503 | 491 | 456 | 450 | 424 | 395 | 342 | 344 | 343 | 346 | 359 | 1,960 | 1,611 | 1,392 |
Net interest income | 7,447 | 7,717 | 7,728 | 7,202 | 7,176 | 7,009 | 6,668 | 6,422 | 6,429 | 6,385 | 6,232 | 5,984 | 30,094 | 27,275 | 25,030 |
Provisions | 450 | 225 | 300 | 450 | 200 | 455 | 316 | 197 | 298 | 150 | 256 | 211 | 1,425 | 1,168 | 915 |
Net interest income after provision for loan losses | 6,997 | 7,492 | 7,428 | 6,752 | 6,976 | 6,554 | 6,352 | 6,225 | 6,131 | 6,235 | 5,976 | 5,773 | 28,669 | 26,107 | 24,115 |
Noninterest income | 1,820 | 1,833 | 1,768 | 1,505 | 1,208 | 1,698 | 1,736 | 1,526 | 1,641 | 1,748 | 1,856 | 1,453 | 6,926 | 6,168 | 6,698 |
Noninterest expenses | 5,971 | 5,870 | 5,764 | 5,665 | 5,469 | 5,195 | 5,697 | 5,254 | 5,254 | 5,046 | 4,803 | 5,155 | 23,270 | 21,615 | 20,258 |
Income before income taxes | 2,846 | 3,455 | 3,432 | 2,592 | 2,715 | 3,057 | 2,391 | 2,497 | 2,518 | 2,937 | 3,029 | 2,071 | 12,325 | 10,660 | 10,555 |
Income tax expense | 440 | 537 | 568 | 442 | 216 | 530 | 287 | 361 | 928 | 825 | 835 | 515 | 1,987 | 1,394 | 3,103 |
Net income | 2,406 | 2,918 | 2,864 | 2,150 | 2,499 | 2,527 | 2,104 | 2,136 | 1,590 | 2,112 | 2,194 | 1,556 | 10,338 | 9,266 | 7,452 |
Less: net income attributable to noncontrolling interest in subsidiary | 3 | 3 | 4 | 3 | 3 | 3 | 4 | 3 | 3 | 3 | 4 | 3 | 13 | 13 | 13 |
Net income attributable to First Capital, Inc. | $ 2,403 | $ 2,915 | $ 2,860 | $ 2,147 | $ 2,496 | $ 2,524 | $ 2,100 | $ 2,133 | $ 1,587 | $ 2,109 | $ 2,190 | $ 1,553 | $ 10,325 | $ 9,253 | $ 7,439 |
Basic (in dollars per share) | $ 0.72 | $ 0.87 | $ 0.86 | $ 0.64 | $ 0.75 | $ 0.76 | $ 0.63 | $ 0.64 | $ 0.49 | $ 0.63 | $ 0.66 | $ 0.46 | $ 3.10 | $ 2.78 | $ 2.24 |
Diluted (in dollars per share) | $ 0.72 | $ 0.87 | $ 0.86 | $ 0.64 | $ 0.75 | $ 0.76 | $ 0.63 | $ 0.64 | $ 0.48 | $ 0.63 | $ 0.66 | $ 0.46 | $ 3.09 | $ 2.77 | $ 2.23 |