Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2020 | Apr. 24, 2020 | |
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 Emerging Growth Company | false | |
Entity Small Business | true | |
Entity Interactive Data Current | Yes | |
Entity Common Stock, Shares Outstanding (in shares) | 3,377,882 | |
Entity Shell Company | false | |
Document Type | 10-Q | |
Document Period End Date | Mar. 31, 2020 | |
Document Fiscal Year Focus | 2020 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | false | |
Title of 12(b) Security | Common stock, par value $0.01 per share |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
ASSETS | ||
Cash and due from banks | $ 19,470 | $ 18,922 |
Interest bearing deposits with banks | 1,388 | 3,412 |
Federal funds sold | 38,864 | 29,026 |
Total cash and cash equivalents | 59,722 | 51,360 |
Interest-bearing time deposits | 6,490 | 6,490 |
Securities available for sale, at fair value | 253,182 | 254,562 |
Loans, net | 465,292 | 466,494 |
Loans held for sale | 3,085 | 4,176 |
Federal Home Loan Bank and other stock, at cost | 1,988 | 1,988 |
Foreclosed real estate | 170 | |
Premises and equipment | 16,343 | 16,414 |
Accrued interest receivable | 2,863 | 3,076 |
Cash value of life insurance | 8,316 | 8,269 |
Goodwill | 6,472 | 6,472 |
Core deposit intangible | 782 | 819 |
Other assets | 6,640 | 7,206 |
Total Assets | 831,175 | 827,496 |
LIABILITIES | ||
Noninterest-bearing | 146,552 | 146,097 |
Interest-bearing | 576,066 | 576,080 |
Total deposits | 722,618 | 722,177 |
Accrued interest payable | 219 | 210 |
Accrued expenses and other liabilities | 5,430 | 6,161 |
Total liabilities | 728,267 | 728,548 |
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 3,805,533 shares (3,791,283 in 2019); outstanding 3,377,882 shares (3,363,632 in 2019) | 38 | 38 |
Additional paid-in capital | 41,684 | 40,723 |
Retained earnings-substantially restricted | 66,549 | 65,266 |
Unearned stock compensation | (1,808) | (940) |
Accumulated other comprehensive income | 4,723 | 2,142 |
Less treasury stock, at cost - 427,651 shares | (8,393) | (8,393) |
Total First Capital, Inc. stockholders' equity | 102,793 | 98,836 |
Noncontrolling interest in subsidiary | 115 | 112 |
Total equity | 102,908 | 98,948 |
Total Liabilities and Equity | $ 831,175 | $ 827,496 |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Mar. 31, 2020 | Dec. 31, 2019 |
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) | 3,805,533 | 3,791,283 |
Common stock, shares outstanding (in shares) | 3,377,882 | 3,363,632 |
Treasury stock, shares (in shares) | 427,651 | 427,651 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
INTEREST INCOME | ||
Loans, including fees | $ 6,276 | $ 6,057 |
Securities: | ||
Taxable | 737 | 984 |
Tax-exempt | 479 | 391 |
Dividends | 18 | 26 |
Other interest income | 164 | 200 |
Total interest income | 7,674 | 7,658 |
INTEREST EXPENSE | ||
Deposits | 468 | 456 |
Total interest expense | 468 | 456 |
Net interest income | 7,206 | 7,202 |
Provision for loan losses | 351 | 450 |
Net interest income after provision for loan losses | 6,855 | 6,752 |
NONINTEREST INCOME | ||
Noninterest income | 1,417 | 1,240 |
Loss on sale of securities available for sale and time deposits | (97) | |
Unrealized gain (loss) on equity securities | (394) | 131 |
Gain on sale of loans | 359 | 158 |
Increase in cash value of life insurance | 47 | 48 |
Other income | 60 | 59 |
Total noninterest income | 1,456 | 1,505 |
NONINTEREST EXPENSE | ||
Compensation and benefits | 3,502 | 3,042 |
Occupancy and equipment | 439 | 397 |
Data processing | 796 | 838 |
Professional fees | 174 | 229 |
Advertising | 108 | 89 |
Net loss on foreclosed real estate | 1 | 195 |
Other expenses | 805 | 875 |
Total noninterest expense | 5,825 | 5,665 |
Income before income taxes | 2,486 | 2,592 |
Income tax expense | 389 | 442 |
Net Income | 2,097 | 2,150 |
Less: net income attributable to the noncontrolling interest in subsidiary | 3 | 3 |
Net Income Attributable to First Capital, Inc. | $ 2,094 | $ 2,147 |
Earnings per common share attributable to First Capital, Inc.: | ||
Basic (in dollars per share) | $ 0.63 | $ 0.64 |
Diluted (in dollars per share) | 0.63 | 0.64 |
Dividends per share on common shares (in dollars per share) | $ 240 | $ 230 |
Deposit Account [Member] | ||
NONINTEREST INCOME | ||
Noninterest income | $ 506 | $ 461 |
ATM and Debit Card Fees [Member] | ||
NONINTEREST INCOME | ||
Noninterest income | 765 | 647 |
Investment Advisory, Management and Administrative Service [Member] | ||
NONINTEREST INCOME | ||
Noninterest income | $ 113 | $ 98 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Net Income | $ 2,097 | $ 2,150 |
OTHER COMPREHENSIVE INCOME | ||
Unrealized holding gains arising during the period | 3,435 | 2,347 |
Income tax expense | (854) | (584) |
Net of tax amount | 2,581 | 1,763 |
Less: reclassification adjustment for realized losses included in net income | 97 | |
Income tax benefit | (21) | |
Net of tax amount | 76 | |
Other Comprehensive Income, net of tax | 2,581 | 1,839 |
Comprehensive Income | 4,678 | 3,989 |
Less: comprehensive income attributable to the noncontrolling interest in subsidiary | 3 | 3 |
Comprehensive Income Attributable to First Capital, Inc. | $ 4,675 | $ 3,986 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - 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, 2018 | $ 38 | $ 40,215 | $ 58,137 | $ (3,477) | $ (720) | $ (8,349) | $ 112 | $ 85,956 |
Net Income | 2,147 | 3 | 2,150 | |||||
Other comprehensive income | 1,839 | 1,839 | ||||||
Cash dividends | (773) | |||||||
Cash dividends | (773) | |||||||
Restricted stock grants | 508 | (508) | ||||||
Stock compensation expense | 56 | 56 | ||||||
Balances at Mar. 31, 2019 | 38 | 40,723 | 59,511 | (1,638) | (1,172) | (8,349) | 115 | 89,228 |
Balances at Dec. 31, 2019 | 38 | 40,723 | 65,266 | 2,142 | (940) | (8,393) | 112 | 98,948 |
Net Income | 2,094 | 3 | 2,097 | |||||
Other comprehensive income | 2,581 | 2,581 | ||||||
Cash dividends | (811) | |||||||
Cash dividends | (811) | |||||||
Restricted stock grants | 961 | (961) | ||||||
Stock compensation expense | 93 | 93 | ||||||
Balances at Mar. 31, 2020 | $ 38 | $ 41,684 | $ 66,549 | $ 4,723 | $ (1,808) | $ (8,393) | $ 115 | $ 102,908 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net income | $ 2,097 | $ 2,150 |
Adjustments to reconcile net income to net cash and cash equivalents provided by operating activities: | ||
Amortization of premiums and accretion of discounts on securities, net | 534 | 391 |
Depreciation and amortization expense | 305 | 264 |
Deferred income taxes | 164 | (74) |
Stock compensation expense | 93 | 56 |
Increase in cash value of life insurance | (47) | (48) |
Loss on sale of securities and time deposits | 97 | |
Provision for loan losses | 351 | 450 |
Proceeds from sales of loans | 23,561 | 7,942 |
Loans originated for sale | (22,111) | (6,312) |
Gain on sale of loans | (359) | (158) |
Amortization of tax credit investment | 96 | 82 |
Unrealized (gain) loss on equity securities | 394 | (131) |
Net realized and unrealized loss on foreclosed real estate | 136 | |
(Increase) decrease in accrued interest receivable | 213 | (7) |
Increase in accrued interest payable | 9 | 27 |
Net change in other assets/liabilities | (768) | 66 |
Net Cash Provided By Operating Activities | 4,532 | 4,931 |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Proceeds from maturities of interest-bearing time deposits | 245 | 490 |
Proceeds from sales of interest-bearing time deposits | 1,460 | |
Purchase of interest-bearing time deposits | (245) | (985) |
Purchase of securities available for sale | (15,390) | (17,862) |
Proceeds from maturities of securities available for sale | 9,685 | 15,645 |
Proceeds from sales of securities available for sale | 5,437 | |
Principal collected on mortgage-backed obligations | 9,930 | 5,533 |
Net (increase) decrease in loans receivable | 851 | (15,972) |
Investment in tax credit entity | (848) | (152) |
Proceeds from sale of foreclosed real estate | 170 | 8 |
Purchase of premises and equipment | (198) | (214) |
Net Cash Provided By (Used In) Investing Activities | (4,200) | 6,612 |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Net increase in deposits | 441 | 16,885 |
Dividends paid | (811) | (773) |
Net Cash Provided By (Used In) Financing Activities | (370) | 16,112 |
Net Increase in Cash and Cash Equivalents | 8,362 | 14,431 |
Cash and cash equivalents at beginning of period | 51,360 | 41,112 |
Cash and Cash Equivalents at End of Period | $ 59,722 | $ 55,543 |
Note 1 - Presentation of Interi
Note 1 - Presentation of Interim Information | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | 1. Presentation of Interim Information First Capital, Inc. (“Company”) is the financial holding company for First Harrison Bank (“Bank”), an Indiana chartered commercial bank and wholly owned subsidiary. First Harrison Investments, Inc. and First Harrison Holdings, Inc. are wholly-owned Nevada corporate subsidiaries of the Bank that jointly own First Harrison, LLC, a Nevada limited liability corporation that holds and manages an investment portfolio. First Harrison REIT, Inc. (“REIT”) is a wholly-owned subsidiary of First Harrison Holdings, Inc. that holds a portion of the Bank’s real estate mortgage loan portfolio. FHB Risk Mitigation Services, Inc. (“Captive”) is a wholly-owned insurance subsidiary of the Company that provides property and casualty insurance coverage to the Company, the Bank and the Bank’s subsidiaries, and reinsurance to eight third may not In the opinion of management, the unaudited consolidated financial statements include all adjustments considered necessary to present fairly the financial position as of March 31, 2020, three March 31, 2020 2019 three March 31, 2020 2019. not The accompanying unaudited consolidated financial statements and notes have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial statements and are presented as permitted by the instructions to Form 10 not December 31, 2019 10 The unaudited consolidated financial statements include the accounts of the Company and its subsidiaries. All material intercompany balances and transactions have been eliminated in consolidation. Certain prior period amounts have been reclassified to conform with the current period presentation. The reclassifications had no COVID- 19 On March 11, 2020, 19” 19 may 19 may may Due to the COVID- 19 150 March 2020 0% 0.25%. 19 may 19 On March 22, 2020, may 19. six not March 27, 2020. 19 19 December 31, 2019 not 19 March 31, 2020, second 2020. The CARES Act also included an allocation of $349 1.00% two not first six 100% 1% 5%, April 3, 2020 April 16, 2020. $310 April 27, 2020. May 6, 2020, $44.6 |
Note 2 - Investment Securities
Note 2 - Investment Securities | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Investments in Debt and Equity Instruments, Cash and Cash Equivalents, Unrealized and Realized Gains (Losses) [Text Block] | 2. Investment Securities Investment securities have been classified in the consolidated balance sheets according to management’s intent. Investment securities at March 31, 2020 December 31, 2019 Gross Gross Amortized Unrealized Unrealized Fair (In thousands) Cost Gains Losses Value March 31, 2020 Securities available for sale: Agency mortgage-backed securities $ 68,746 $ 1,323 $ - $ 70,069 Agency CMO 41,377 370 138 41,609 Other debt securities: Agency notes and bonds 59,139 1,430 - 60,569 Municipal obligations 77,797 3,220 82 80,935 Total securities available for sale $ 247,059 $ 6,343 $ 220 $ 253,182 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 Agency notes and bonds, agency mortgage-backed securities and agency collateralized mortgage obligations (“CMO”) include securities issued by the Government National Mortgage Association (“GNMA”), a U.S. government agency, and the Federal National Mortgage Association (“FNMA”), the Federal Home Loan Mortgage Corporation (“FHLMC”) and the Federal Home Loan Bank (“FHLB”), which are government-sponsored enterprises. The amortized cost and fair value of debt securities as of March 31, 2020, may may Securities Available for Sale Amortized Fair Cost Value (In thousands) Due in one year or less $ 18,895 $ 18,949 Due after one year through five years 48,810 50,327 Due after five years through ten years 27,915 29,154 Due after ten years 41,316 43,074 136,936 141,504 Mortgage-backed securities and CMO 110,123 111,678 $ 247,059 $ 253,182 Information pertaining to investment securities with gross unrealized losses at March 31, 2020, Number of Gross Investment Fair Unrealized Positions Value Losses (Dollars in thousands) Continuous loss position less than twelve months: Agency CMO 15 $ 16,012 $ 137 Muncipal obligations 7 4,629 82 Total less than twelve months 22 20,641 219 Continuous loss position more than twelve months: Agency CMO 2 322 1 Total more than twelve months 2 322 1 Total securities available for sale 24 $ 20,963 $ 220 Information pertaining to investment securities with gross unrealized losses at December 31, 2019, Number of Gross Investment Fair Unrealized Positions Value Losses (Dollars in thousands) 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 Muncipal 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 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 March 31, 2020, 1.0% first no While management does not March 31, 2020, may During the three March 31, 2019, $86,000 $11,000 three March 31, 2020, no Certain available for sale debt securities were pledged to secure public fund deposits at March 31, 2020 December 31, 2019. Equity Securities In September 2018, 90,000 5% $1.9 three March 31, 2020, $394,000 three March 31, 2019, $131,000 March 31, 2020 December 31, 2019, $1.4 $1.7 |
Note 3 - Loans and Allowance fo
Note 3 - Loans and Allowance for Loan Losses | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | 3. Loans and Allowance for Loan Losses The Company’s loan and allowance for loan loss policies are as follows: Loans are stated at unpaid principal balances, less net deferred loan fees and the allowance for loan losses. The Company originates real estate mortgage, commercial business and consumer loans. A substantial portion of the loan portfolio is represented by mortgage loans to customers in the Louisville, Kentucky metropolitan statistical area (MSA). The ability of the Company’s customers to honor their loan agreements is largely dependent upon the real estate and general economic conditions in this area. Loan origination and commitment fees, as well as certain direct costs of underwriting and closing loans, are deferred and amortized as a yield adjustment to interest income over the lives of the related loans using the interest method. Amortization of net deferred loan fees is discontinued when a loan is placed on nonaccrual status. The recognition of income on a loan is discontinued and previously accrued interest is reversed, when interest or principal payments become 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 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 The allowance for loan losses reflects management’s judgment of probable loan losses inherent in the loan portfolio at the balance sheet date. Additions to the allowance for loan losses are made by the provision for loan losses charged to earnings. Loan losses are charged against the allowance when management believes the uncollectibility of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance. The Company uses a disciplined process and methodology to evaluate the allowance for loan losses on at least a quarterly basis that is based upon management’s periodic review of the collectibility of the loans in light of historical experience, the nature and volume of the loan portfolio, adverse situations that may The allowance consists of specific and general components. The specific component relates to loans that are individually evaluated for impairment or loans otherwise classified as doubtful, substandard, or special mention. For such loans that are also classified as impaired, an allowance is established when the 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 March 31, 2020 December 31, 2019. Management exercises significant judgment in evaluating the relevant historical loss experience and the qualitative factors. Management also monitors the differences between estimated and actual incurred loan losses for loans considered impaired in order to evaluate the effectiveness of the estimation process and make any changes in the methodology as necessary. Management utilizes the following portfolio segments in its analysis of the allowance for loan losses: residential real estate, land, construction, commercial real estate, commercial business, home equity and second 10 December 31, 2019. 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 At March 31, 2020, no December 31, 2019, $170,000 March 31, 2020 December 31, 2019, $289,000 $319,000, Loans at March 31, 2020 December 31, 2019 March 31, December 31, (In thousands) 2020 2019 Real estate mortgage loans: Residential $ 128,039 $ 131,959 Land 18,861 19,185 Residential construction 42,760 35,554 Commercial real estate 129,180 121,563 Commercial real estate construction 12,620 20,086 Commercial business loans 44,811 45,307 Consumer loans: Home equity and second mortgage loans 54,655 54,677 Automobile loans 45,304 46,443 Loans secured by savings accounts 1,318 1,372 Unsecured loans 3,434 3,653 Other consumer loans 13,134 13,700 Gross loans 494,116 493,499 Less undisbursed portion of loans in process (24,638 ) (23,081 ) Principal loan balance 469,478 470,418 Deferred loan origination fees, net 1,121 1,137 Allowance for loan losses (5,307 ) (5,061 ) Loans, net $ 465,292 $ 466,494 The following table provides the components of the Company’s recorded investment in loans at March 31, 2020: Residential Commercial Commercial Home Equity & Other Real Estate Land Construction Real Estate Business 2nd Mtg Consumer Total (In thousands) Recorded Investment in Loans: Principal loan balance $ 128,039 $ 18,861 $ 30,742 $ 129,180 $ 44,811 $ 54,655 $ 63,190 $ 469,478 Accrued interest receivable 453 98 70 344 117 218 226 1,526 Net deferred loan origination fees and costs 116 14 (6 ) (68 ) - 1,065 - 1,121 Recorded investment in loans $ 128,608 $ 18,973 $ 30,806 $ 129,456 $ 44,928 $ 55,938 $ 63,416 $ 472,125 Recorded Investment in Loans as Evaluated for Impairment: Individually evaluated for impairment $ 1,840 $ 115 $ - $ 447 $ 247 $ 56 $ 42 $ 2,747 Collectively evaluated for impairment 126,487 18,858 30,806 128,972 44,681 55,882 63,374 469,060 Acquired with deteriorated credit quality 281 - - 37 - - - 318 Ending balance $ 128,608 $ 18,973 $ 30,806 $ 129,456 $ 44,928 $ 55,938 $ 63,416 $ 472,125 The following table provides the components of the Company’s recorded investment in loans at December 31, 2019: Residential Commercial Commercial Home Equity & Other Real Estate Land Construction Real Estate Business 2nd Mtg Consumer Total (In thousands) Recorded Investment in Loans: 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 Recorded Investment in Loans as Evaluated for Impairment: 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 as of March 31, 2020 Residential Commercial Commercial Home Equity & Other Real Estate Land Construction Real Estate Business 2nd Mtg Consumer Total (In thousands) Ending allowance balance attributable to loans: Individually evaluated for impairment $ 15 $ - $ - $ - $ - $ - $ - $ 15 Collectively evaluated for impairment 891 163 353 1,735 620 550 957 5,269 Acquired with deteriorated credit quality 23 - - - - - - 23 Ending balance $ 929 $ 163 $ 353 $ 1,735 $ 620 $ 550 $ 957 $ 5,307 An analysis of the allowance for loan losses as of December 31, 2019 Residential Commercial Commercial Home Equity & Other Real Estate Land Construction Real Estate Business 2nd Mtg Consumer Total (In thousands) 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 An analysis of the changes in the allowance for loan losses for the three March 31, 2020 Residential Commercial Commercial Home Equity & Other Real Estate Land Construction Real Estate Business 2nd Mtg Consumer Total (In thousands) Allowance for loan losses: Beginning balance $ 867 $ 163 $ 350 $ 1,623 $ 595 $ 515 $ 948 $ 5,061 Provisions for loan losses 62 - 3 112 25 33 116 351 Charge-offs - - - - - - (159 ) (159 ) Recoveries - - - - - 2 52 54 Ending balance $ 929 $ 163 $ 353 $ 1,735 $ 620 $ 550 $ 957 $ 5,307 An analysis of the changes in the allowance for loan losses for the three March 31, 2019 Residential Commercial Commercial Home Equity & Other Real Estate Land Construction Real Estate Business 2nd Mtg Consumer Total (In thousands) Allowance for loan losses: Beginning balance $ 693 $ 162 $ 224 $ 1,401 $ 459 $ 443 $ 683 $ 4,065 Provisions for loan losses 71 2 67 (10 ) 82 5 233 450 Charge-offs (39 ) - - - - - (181 ) (220 ) Recoveries 2 - - - - 2 40 44 Ending balance $ 727 $ 164 $ 291 $ 1,391 $ 541 $ 450 $ 775 $ 4,339 At March 31, 2020 December 31, 2019, $4.1 $3.8 March 31, 2020 December 31, 2019. March 31, 2020 19. Management also adjusts the historical loss factors for loans classified as watch, special mention and substandard that are not $407,000 $386,000 March 31, 2020 December 31, 2019, not December 31, 2019 March 31, 2020. The following table summarizes the Company’s impaired loans as of March 31, 2020 three March 31, 2020 2019. not three March 31, 2020 2019: At March 31, 2020 Three Months Ended March 31, 2020 Three Months Ended March 31, 2019 Unpaid Average Interest Average Interest Recorded Principal Related Recorded Income Recorded Income Investment Balance Allowance Investment Recognized Investment Recognized (In thousands) Loans with no related allowance recorded: Residential $ 1,662 $ 1,927 $ - $ 1,700 $ 6 $ 2,181 $ 3 Land 115 119 - 115 - 171 - Construction - - - - - 523 - Commercial real estate 447 446 - 400 9 253 2 Commercial business 247 255 - 248 2 398 3 Home equity/2nd mortgage 56 55 - 56 1 30 - Other consumer 42 44 - 45 - - - 2,569 2,846 - 2,564 18 3,556 8 Loans with an allowance recorded: Residential 178 198 15 184 - 76 - Land - - - - - - - Construction - - - - - - - Commercial real estate - - - - - 103 - Commercial business - - - - - 119 - Home equity/2nd mortgage - - - - - 14 - Other consumer - - - - - - - 178 198 15 184 - 312 - Total: Residential 1,840 2,125 15 1,884 6 2,257 3 Land 115 119 - 115 - 171 - Construction - - - - - 523 - Commercial real estate 447 446 - 400 9 356 2 Commercial business 247 255 - 248 2 517 3 Home equity/2nd mortgage 56 55 - 56 1 44 - Other consumer 42 44 - 45 - - - $ 2,747 $ 3,044 $ 15 $ 2,748 $ 18 $ 3,868 $ 8 The following table summarizes the Company’s impaired loans as of December 31, 2019: Unpaid Recorded Principal Related Investment Balance Allowance (In thousands) Loans with no related allowance recorded: Residential $ 1,737 $ 1,986 $ - Land 115 117 - Construction - - - Commercial real estate 353 352 - Commercial business 249 257 - Home equity/2nd mortgage 56 56 - Other consumer 48 50 - 2,558 2,818 - Loans with an allowance recorded: Residential 189 211 16 Land - - - Construction - - - Commercial real estate - - - Commercial business - - - Home equity/2nd mortgage - - - Other consumer - - - 189 211 16 Total: Residential 1,926 2,197 16 Land 115 117 - Construction - - - Commercial real estate 353 352 - Commercial business 249 257 - Home equity/2nd mortgage 56 56 - Other consumer 48 50 - $ 2,747 $ 3,029 $ 16 Nonperforming loans consists of nonaccrual loans and loans over 90 March 31, 2020 December 31, 2019: March 31, 2020 December 31, 2019 Loans 90+ Days Total Loans 90+ Days Total Nonaccrual Past Due Nonperforming Nonaccrual Past Due Nonperforming Loans Still Accruing Loans Loans Still Accruing Loans (In thousands) Residential $ 1,460 $ 55 $ 1,515 $ 1,544 $ 13 $ 1,557 Land 115 - 115 115 - 115 Construction - - - - - - Commercial real estate - - - - - - Commercial business 61 - 61 58 - 58 Home equity/2nd mortgage - - - - - - Other consumer 41 1 42 48 - 48 Total $ 1,677 $ 56 $ 1,733 $ 1,765 $ 13 $ 1,778 The following table presents the aging of the recorded investment in loans at March 31, 2020: Purchased 30-59 Days 60-89 Days 90 Days or More Total Credit Total Past Due Past Due Past Due Past Due Current Impaired Loans Loans (In thousands) Residential $ 2,050 $ 401 $ 1,035 $ 3,486 $ 124,841 $ 281 $ 128,608 Land 130 6 86 222 18,751 - 18,973 Construction 51 - - 51 30,755 - 30,806 Commercial real estate 672 249 - 921 128,498 37 129,456 Commercial business 112 218 61 391 44,537 - 44,928 Home equity/2nd mortgage 355 204 - 559 55,379 - 55,938 Other consumer 409 53 1 463 62,953 - 63,416 Total $ 3,779 $ 1,131 $ 1,183 $ 6,093 $ 465,714 $ 318 $ 472,125 The following table presents the aging of the recorded investment in loans at December 31, 2019: Purchased 30-59 Days 60-89 Days 90 Days or More Total Credit Total Past Due Past Due Past Due Past Due Current Impaired Loans Loans (In thousands) Residential $ 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/2nd 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 Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, public information, historical payment experience, credit documentation, and current economic trends, among other factors. The Company classifies loans based on credit risk at least quarterly. The Company uses the following regulatory definitions for risk ratings: Special Mention: may Substandard: not Doubtful: Loss: not Loans not The following table presents the recorded investment in loans by risk category as of the date indicated: Residential Commercial Commercial Home Equity & Other Real Estate Land Construction Real Estate Business 2nd Mtg Consumer Total (In thousands) March 31, 2020 Pass $ 125,357 $ 18,460 $ 30,806 $ 126,799 $ 44,032 $ 55,511 $ 63,313 $ 464,278 Special Mention 386 321 - 784 464 - 62 2,017 Substandard 1,443 77 - 1,873 371 427 - 4,191 Doubtful 1,422 115 - - 61 - 41 1,639 Loss - - - - - - - - Total $ 128,608 $ 18,973 $ 30,806 $ 129,456 $ 44,928 $ 55,938 $ 63,416 $ 472,125 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 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 The following table summarizes the Company’s TDRs by accrual status as of March 31, 2020 December 31, 2019: March 31, 2020 December 31, 2019 Related Allowance Related Allowance Accruing Nonaccrual Total for Loan Losses Accruing Nonaccrual Total for Loan Losses (In thousands) Troubled debt restructurings: Residential real estate $ 381 $ 65 $ 446 $ - $ 367 $ 66 $ 433 $ - Commercial real estate 643 - 643 - 553 - 553 - Commercial business 186 - 186 - 191 - 191 - Home equity and second mortgage 55 - 55 - 55 - 55 - Total $ 1,265 $ 65 $ 1,330 $ - $ 1,166 $ 66 $ 1,232 $ - At March 31, 2020 December 31, 2019, no The Company restructured one one three March 31, 2020, $265,000. no three March 31, 2019. There were no no three March 31, 2020 2019. There were no 12 90 three March 31, 2020 2019. may may As discussed in Note 1, March 2020 six 19 not 19 December 31, 2019 not May 6, 2020, 11.7% one three may six Purchased Credit Impaired (PCI) Loans Purchased loans acquired in a business combination are recorded at estimated fair value on their purchase date with no not 310 30. The following table presents the carrying amount of PCI loans accounted for under ASC 310 30 March 31, 2020 December 31, 2019: March 31, December 31, (In thousands) 2020 2019 Residential real estate $ 281 $ 285 Commercial real estate 37 39 Carrying amount 318 324 Allowance for loan losses 23 12 Carrying amount, net of allowance $ 295 $ 312 The outstanding balance of PCI loans accounted for under ASC 310 30, $452,000 $466,000 March 31, 2020 December 31, 2019, There was a $23,000 March 31, 2020 $12,000 December 31, 2019. $11,000 three March 31, 2020. no three March 31, 2019. Accretable yield, or income expected to be collected, is as follows for the three March 31, 2020 2019: 2020 2019 Balance at beginning of period $ 403 $ 423 New loans purchased - - Accretion to income (11 ) (12 ) Disposals and other adjustments - - Reclassification from nonaccretable difference (17 ) (2 ) Balance at end of period $ 375 $ 409 |
Note 4 - Qualified Affordable H
Note 4 - Qualified Affordable Housing Project Investment | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Investment [Text Block] | 4. Qualified Affordable Housing Project Investment On January 19, 2018, March 31, 2020 December 31, 2019, $3.1 $3.2 March 31, 2020 December 31, 2019 $1.1 $1.9 2029. The investment is accounted for using the proportional amortization method. During the three March 31, 2020 2019, $96,000 $82,000, three March 31, 2020 2019, $111,000 $125,000, |
Note 5 - Supplemental Disclosur
Note 5 - Supplemental Disclosure for Earnings Per Share | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 5. Supplemental Disclosure for Earnings Per Share Three Months Ended March 31, 2020 2019 (Dollars in thousands, except per share data) Basic Earnings: Net income attributable to First Capital, Inc. $ 2,094 $ 2,147 Shares: Weighted average common shares outstanding 3,336,459 3,329,844 Net income attributable to First Capital, Inc. per common share, basic $ 0.63 $ 0.64 Diluted Earnings: Net income attributable to First Capital, Inc. $ 2,094 $ 2,147 Shares: Weighted average common shares outstanding 3,336,459 3,329,844 Add: Dilutive effect of restricted stock 13,257 10,100 Weighted average common shares outstanding, as adjusted 3,349,716 3,339,944 Net income attributable to First Capital, Inc. per common share, diluted $ 0.63 $ 0.64 Nonvested restricted stock shares are not No three March 31, 2020 2019. |
Note 6 - Stock-based Compensati
Note 6 - Stock-based Compensation Plans | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | 6. 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 March 31, 2020, 161,900 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 March 31, 2020, no On February 18, 2020, 14,250 2019 $67.43 $961,000. July 1, 2025, 20% July 1 July 1, 2021. February 19, 2019, 9,750 2009 $52.09 $508,000. July 1, 2024, 20% July 1 July 1, 2020. three March 31, 2020 2019 $93,000 $56,000, $28,000 $14,000 three March 31, 2020 2019, A summary of the Company’s nonvested restricted shares under the Plan as of March 31, 2020 three Weighted Number Average of Grant Date Shares Fair Value Nonvested at January 1, 2020 27,750 $ 41.08 Granted 14,250 67.43 Vested 750 40.59 Forfeited - - Nonvested at March 31, 2020 41,250 $ 50.19 There were 750 three March 31, 2020 three March 31, 2020 $54,000. March 31, 2020, $1.8 4.0 |
Note 7 - Supplemental Disclosur
Note 7 - Supplemental Disclosures of Cash Flow Information | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Cash Flow, Supplemental Disclosures [Text Block] | 7. Supplemental Disclosures of Cash Flow Information Three Months Ended March 31, 2020 2019 ( In thousands Cash payments for: Interest $ 459 $ 428 Taxes (net of refunds received) 0 0 |
Note 8 - Fair Value Measurement
Note 8 - Fair Value Measurements | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 8. 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 A description of the valuation methodologies used for instruments measured at fair value, as well as the general classification of such instruments pursuant to the valuation hierarchy, is set forth on the following page. These valuation methodologies were applied to all of the Company’s financial and nonfinancial assets carried at fair value or the lower of cost or fair value. The table below presents the balances of assets measured at fair value on a recurring and nonrecurring basis as of March 31, 2020 December 31, 2019. no March 31, 2020 December 31, 2019. Carrying Value (In thousands) Level 1 Level 2 Level 3 Total March 31, 2020 Assets Measured on a Recurring Basis Securities available for sale: Agency mortgage-backed securities $ - $ 70,069 $ - $ 70,069 Agency CMO - 41,609 - 41,609 Agency notes and bonds - 60,569 - 60,569 Municipal obligations - 80,935 - 80,935 Total securities available for sale $ - $ 253,182 $ - $ 253,182 Equity securities $ 1,352 $ - $ - 1,352 Assets Measured on a Nonrecurring Basis Impaired loans: Residential real estate $ - $ - $ 1,825 $ 1,825 Land - - 115 115 Commercial real estate - - 447 447 Commercial business - - 247 247 Home equity and second mortgage - - 56 56 Other consumer - - 42 42 Total impaired loans $ - $ - $ 2,732 $ 2,732 Loans held for sale $ - $ 3,085 $ - $ 3,085 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 Fair value is based upon quoted market prices, where available. If quoted market prices are not third may may may may not Securities Available for Sale and Equity Securities . 1 third not 2 may third not 3 Impaired Loans 3 Impaired loans are carried at the present value of estimated future cash flows using the loan's effective interest rate or the fair value of collateral less estimated costs to sell if the loan is collateral dependent. At March 31, 2020 December 31, 2019, may At March 31, 2020, 40% 47%, 45%. December 31, 2019, 40% 66%, 47%. three March 31, 2020 $1,000 three March 31, 2019 $20,000. 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 March 31, 2020, no December 31, 2019, 38%. no three March 31, 2020. $137,000 three March 31, 2019. There have been no three March 31, 2020 2019. no 3 three March 31, 2020 2019. GAAP requires disclosure of the fair value of financial assets and financial liabilities, whether or not not not not Carrying Fair Fair Value Measurements Using (In thousands) Value Value Level 1 Level 2 Level 3 March 31, 2020 Financial assets: Cash and cash equivalents $ 59,722 $ 59,722 $ 59,722 $ - $ - Interest-bearing time deposits 6,490 6,835 - 6,835 - Securities available for sale 253,182 253,182 - 253,182 - Loans held for sale 3,085 3,142 - 3,142 - Loans, net 465,292 476,293 - - 476,293 FHLB and other restricted stock 1,988 N/A N/A N/A N/A Accrued interest receivable 2,863 2,863 - 2,863 - Equity securities (included in other assets) 1,352 1,352 1,352 - - Financial liabilities: Deposits 722,618 723,217 - - 723,217 Accrued interest payable 219 219 - 219 - 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 - |
Note 9 - Revenue From Contracts
Note 9 - Revenue From Contracts With Customers | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | 9. Revenue from Contracts with Customers Substantially all of the Company’s revenue from contracts with customers in the scope of FASB ASC 606 three March 31, 2020 2019: Three Months Ended March 31, 2020 2019 (In thousands) Service charges on deposit accounts $ 506 $ 461 ATM and debit card fees 765 647 Investment advisory income 113 98 Other 33 34 Revenue from contracts with customers 1,417 1,240 Net gain (loss) on loans and investments (35 ) 192 Increase in cash value of life insurance 47 48 Other 27 25 Other noninterest income 39 265 Total noninterest income $ 1,456 $ 1,505 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: |
Note 10 - Recent Accounting Pro
Note 10 - Recent Accounting Pronouncements | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Accounting Standards Update and Change in Accounting Principle [Text Block] | 10. 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 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, 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. January 1, 2020 not |
Note 2 - Investment Securities
Note 2 - Investment Securities (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Marketable Securities [Table Text Block] | Gross Gross Amortized Unrealized Unrealized Fair (In thousands) Cost Gains Losses Value March 31, 2020 Securities available for sale: Agency mortgage-backed securities $ 68,746 $ 1,323 $ - $ 70,069 Agency CMO 41,377 370 138 41,609 Other debt securities: Agency notes and bonds 59,139 1,430 - 60,569 Municipal obligations 77,797 3,220 82 80,935 Total securities available for sale $ 247,059 $ 6,343 $ 220 $ 253,182 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 |
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 $ 18,895 $ 18,949 Due after one year through five years 48,810 50,327 Due after five years through ten years 27,915 29,154 Due after ten years 41,316 43,074 136,936 141,504 Mortgage-backed securities and CMO 110,123 111,678 $ 247,059 $ 253,182 |
Schedule of Unrealized Loss on Investments [Table Text Block] | Number of Gross Investment Fair Unrealized Positions Value Losses (Dollars in thousands) Continuous loss position less than twelve months: Agency CMO 15 $ 16,012 $ 137 Muncipal obligations 7 4,629 82 Total less than twelve months 22 20,641 219 Continuous loss position more than twelve months: Agency CMO 2 322 1 Total more than twelve months 2 322 1 Total securities available for sale 24 $ 20,963 $ 220 Number of Gross Investment Fair Unrealized Positions Value Losses (Dollars in thousands) 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 Muncipal 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 |
Note 3 - Loans and Allowance _2
Note 3 - Loans and Allowance for Loan Losses (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | March 31, December 31, (In thousands) 2020 2019 Real estate mortgage loans: Residential $ 128,039 $ 131,959 Land 18,861 19,185 Residential construction 42,760 35,554 Commercial real estate 129,180 121,563 Commercial real estate construction 12,620 20,086 Commercial business loans 44,811 45,307 Consumer loans: Home equity and second mortgage loans 54,655 54,677 Automobile loans 45,304 46,443 Loans secured by savings accounts 1,318 1,372 Unsecured loans 3,434 3,653 Other consumer loans 13,134 13,700 Gross loans 494,116 493,499 Less undisbursed portion of loans in process (24,638 ) (23,081 ) Principal loan balance 469,478 470,418 Deferred loan origination fees, net 1,121 1,137 Allowance for loan losses (5,307 ) (5,061 ) Loans, net $ 465,292 $ 466,494 |
Financing Receivable, Current, Allowance for Credit Loss [Table Text Block] | Residential Commercial Commercial Home Equity & Other Real Estate Land Construction Real Estate Business 2nd Mtg Consumer Total (In thousands) Ending allowance balance attributable to loans: Individually evaluated for impairment $ 15 $ - $ - $ - $ - $ - $ - $ 15 Collectively evaluated for impairment 891 163 353 1,735 620 550 957 5,269 Acquired with deteriorated credit quality 23 - - - - - - 23 Ending balance $ 929 $ 163 $ 353 $ 1,735 $ 620 $ 550 $ 957 $ 5,307 Residential Commercial Commercial Home Equity & Other Real Estate Land Construction Real Estate Business 2nd Mtg Consumer Total (In thousands) 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 Residential Commercial Commercial Home Equity & Other Real Estate Land Construction Real Estate Business 2nd Mtg Consumer Total (In thousands) Allowance for loan losses: Beginning balance $ 867 $ 163 $ 350 $ 1,623 $ 595 $ 515 $ 948 $ 5,061 Provisions for loan losses 62 - 3 112 25 33 116 351 Charge-offs - - - - - - (159 ) (159 ) Recoveries - - - - - 2 52 54 Ending balance $ 929 $ 163 $ 353 $ 1,735 $ 620 $ 550 $ 957 $ 5,307 Residential Commercial Commercial Home Equity & Other Real Estate Land Construction Real Estate Business 2nd Mtg Consumer Total (In thousands) Allowance for loan losses: Beginning balance $ 693 $ 162 $ 224 $ 1,401 $ 459 $ 443 $ 683 $ 4,065 Provisions for loan losses 71 2 67 (10 ) 82 5 233 450 Charge-offs (39 ) - - - - - (181 ) (220 ) Recoveries 2 - - - - 2 40 44 Ending balance $ 727 $ 164 $ 291 $ 1,391 $ 541 $ 450 $ 775 $ 4,339 |
Impaired Financing Receivables [Table Text Block] | At March 31, 2020 Three Months Ended March 31, 2020 Three Months Ended March 31, 2019 Unpaid Average Interest Average Interest Recorded Principal Related Recorded Income Recorded Income Investment Balance Allowance Investment Recognized Investment Recognized (In thousands) Loans with no related allowance recorded: Residential $ 1,662 $ 1,927 $ - $ 1,700 $ 6 $ 2,181 $ 3 Land 115 119 - 115 - 171 - Construction - - - - - 523 - Commercial real estate 447 446 - 400 9 253 2 Commercial business 247 255 - 248 2 398 3 Home equity/2nd mortgage 56 55 - 56 1 30 - Other consumer 42 44 - 45 - - - 2,569 2,846 - 2,564 18 3,556 8 Loans with an allowance recorded: Residential 178 198 15 184 - 76 - Land - - - - - - - Construction - - - - - - - Commercial real estate - - - - - 103 - Commercial business - - - - - 119 - Home equity/2nd mortgage - - - - - 14 - Other consumer - - - - - - - 178 198 15 184 - 312 - Total: Residential 1,840 2,125 15 1,884 6 2,257 3 Land 115 119 - 115 - 171 - Construction - - - - - 523 - Commercial real estate 447 446 - 400 9 356 2 Commercial business 247 255 - 248 2 517 3 Home equity/2nd mortgage 56 55 - 56 1 44 - Other consumer 42 44 - 45 - - - $ 2,747 $ 3,044 $ 15 $ 2,748 $ 18 $ 3,868 $ 8 Unpaid Recorded Principal Related Investment Balance Allowance (In thousands) Loans with no related allowance recorded: Residential $ 1,737 $ 1,986 $ - Land 115 117 - Construction - - - Commercial real estate 353 352 - Commercial business 249 257 - Home equity/2nd mortgage 56 56 - Other consumer 48 50 - 2,558 2,818 - Loans with an allowance recorded: Residential 189 211 16 Land - - - Construction - - - Commercial real estate - - - Commercial business - - - Home equity/2nd mortgage - - - Other consumer - - - 189 211 16 Total: Residential 1,926 2,197 16 Land 115 117 - Construction - - - Commercial real estate 353 352 - Commercial business 249 257 - Home equity/2nd mortgage 56 56 - Other consumer 48 50 - $ 2,747 $ 3,029 $ 16 |
Financing Receivable, Nonaccrual [Table Text Block] | March 31, 2020 December 31, 2019 Loans 90+ Days Total Loans 90+ Days Total Nonaccrual Past Due Nonperforming Nonaccrual Past Due Nonperforming Loans Still Accruing Loans Loans Still Accruing Loans (In thousands) Residential $ 1,460 $ 55 $ 1,515 $ 1,544 $ 13 $ 1,557 Land 115 - 115 115 - 115 Construction - - - - - - Commercial real estate - - - - - - Commercial business 61 - 61 58 - 58 Home equity/2nd mortgage - - - - - - Other consumer 41 1 42 48 - 48 Total $ 1,677 $ 56 $ 1,733 $ 1,765 $ 13 $ 1,778 |
Financing Receivable, Past Due [Table Text Block] | Purchased 30-59 Days 60-89 Days 90 Days or More Total Credit Total Past Due Past Due Past Due Past Due Current Impaired Loans Loans (In thousands) Residential $ 2,050 $ 401 $ 1,035 $ 3,486 $ 124,841 $ 281 $ 128,608 Land 130 6 86 222 18,751 - 18,973 Construction 51 - - 51 30,755 - 30,806 Commercial real estate 672 249 - 921 128,498 37 129,456 Commercial business 112 218 61 391 44,537 - 44,928 Home equity/2nd mortgage 355 204 - 559 55,379 - 55,938 Other consumer 409 53 1 463 62,953 - 63,416 Total $ 3,779 $ 1,131 $ 1,183 $ 6,093 $ 465,714 $ 318 $ 472,125 Purchased 30-59 Days 60-89 Days 90 Days or More Total Credit Total Past Due Past Due Past Due Past Due Current Impaired Loans Loans (In thousands) Residential $ 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/2nd 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 |
Financing Receivable Credit Quality Indicators [Table Text Block] | Residential Commercial Commercial Home Equity & Other Real Estate Land Construction Real Estate Business 2nd Mtg Consumer Total (In thousands) March 31, 2020 Pass $ 125,357 $ 18,460 $ 30,806 $ 126,799 $ 44,032 $ 55,511 $ 63,313 $ 464,278 Special Mention 386 321 - 784 464 - 62 2,017 Substandard 1,443 77 - 1,873 371 427 - 4,191 Doubtful 1,422 115 - - 61 - 41 1,639 Loss - - - - - - - - Total $ 128,608 $ 18,973 $ 30,806 $ 129,456 $ 44,928 $ 55,938 $ 63,416 $ 472,125 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 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 |
Schedule of Troubled Debt Restructurings by Accrual Status [Table Text Block] | March 31, 2020 December 31, 2019 Related Allowance Related Allowance Accruing Nonaccrual Total for Loan Losses Accruing Nonaccrual Total for Loan Losses (In thousands) Troubled debt restructurings: Residential real estate $ 381 $ 65 $ 446 $ - $ 367 $ 66 $ 433 $ - Commercial real estate 643 - 643 - 553 - 553 - Commercial business 186 - 186 - 191 - 191 - Home equity and second mortgage 55 - 55 - 55 - 55 - Total $ 1,265 $ 65 $ 1,330 $ - $ 1,166 $ 66 $ 1,232 $ - |
Schedule of Purchased Credit Impaired Loans [Table Text Block] | March 31, December 31, (In thousands) 2020 2019 Residential real estate $ 281 $ 285 Commercial real estate 37 39 Carrying amount 318 324 Allowance for loan losses 23 12 Carrying amount, net of allowance $ 295 $ 312 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Table Text Block] | 2020 2019 Balance at beginning of period $ 403 $ 423 New loans purchased - - Accretion to income (11 ) (12 ) Disposals and other adjustments - - Reclassification from nonaccretable difference (17 ) (2 ) Balance at end of period $ 375 $ 409 |
Financing Receivable [Member] | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | Residential Commercial Commercial Home Equity & Other Real Estate Land Construction Real Estate Business 2nd Mtg Consumer Total (In thousands) Recorded Investment in Loans: Principal loan balance $ 128,039 $ 18,861 $ 30,742 $ 129,180 $ 44,811 $ 54,655 $ 63,190 $ 469,478 Accrued interest receivable 453 98 70 344 117 218 226 1,526 Net deferred loan origination fees and costs 116 14 (6 ) (68 ) - 1,065 - 1,121 Recorded investment in loans $ 128,608 $ 18,973 $ 30,806 $ 129,456 $ 44,928 $ 55,938 $ 63,416 $ 472,125 Recorded Investment in Loans as Evaluated for Impairment: Individually evaluated for impairment $ 1,840 $ 115 $ - $ 447 $ 247 $ 56 $ 42 $ 2,747 Collectively evaluated for impairment 126,487 18,858 30,806 128,972 44,681 55,882 63,374 469,060 Acquired with deteriorated credit quality 281 - - 37 - - - 318 Ending balance $ 128,608 $ 18,973 $ 30,806 $ 129,456 $ 44,928 $ 55,938 $ 63,416 $ 472,125 Residential Commercial Commercial Home Equity & Other Real Estate Land Construction Real Estate Business 2nd Mtg Consumer Total (In thousands) Recorded Investment in Loans: 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 Recorded Investment in Loans as Evaluated for Impairment: 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 |
Note 5 - Supplemental Disclos_2
Note 5 - Supplemental Disclosure for Earnings Per Share (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended March 31, 2020 2019 (Dollars in thousands, except per share data) Basic Earnings: Net income attributable to First Capital, Inc. $ 2,094 $ 2,147 Shares: Weighted average common shares outstanding 3,336,459 3,329,844 Net income attributable to First Capital, Inc. per common share, basic $ 0.63 $ 0.64 Diluted Earnings: Net income attributable to First Capital, Inc. $ 2,094 $ 2,147 Shares: Weighted average common shares outstanding 3,336,459 3,329,844 Add: Dilutive effect of restricted stock 13,257 10,100 Weighted average common shares outstanding, as adjusted 3,349,716 3,339,944 Net income attributable to First Capital, Inc. per common share, diluted $ 0.63 $ 0.64 |
Note 6 - Stock-based Compensa_2
Note 6 - Stock-based Compensation Plans (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block] | Weighted Number Average of Grant Date Shares Fair Value Nonvested at January 1, 2020 27,750 $ 41.08 Granted 14,250 67.43 Vested 750 40.59 Forfeited - - Nonvested at March 31, 2020 41,250 $ 50.19 |
Note 7 - Supplemental Disclos_2
Note 7 - Supplemental Disclosures of Cash Flow Information (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block] | Three Months Ended March 31, 2020 2019 ( In thousands Cash payments for: Interest $ 459 $ 428 Taxes (net of refunds received) 0 0 |
Note 8 - Fair Value Measureme_2
Note 8 - Fair Value Measurements (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Table Text Block] | Carrying Value (In thousands) Level 1 Level 2 Level 3 Total March 31, 2020 Assets Measured on a Recurring Basis Securities available for sale: Agency mortgage-backed securities $ - $ 70,069 $ - $ 70,069 Agency CMO - 41,609 - 41,609 Agency notes and bonds - 60,569 - 60,569 Municipal obligations - 80,935 - 80,935 Total securities available for sale $ - $ 253,182 $ - $ 253,182 Equity securities $ 1,352 $ - $ - 1,352 Assets Measured on a Nonrecurring Basis Impaired loans: Residential real estate $ - $ - $ 1,825 $ 1,825 Land - - 115 115 Commercial real estate - - 447 447 Commercial business - - 247 247 Home equity and second mortgage - - 56 56 Other consumer - - 42 42 Total impaired loans $ - $ - $ 2,732 $ 2,732 Loans held for sale $ - $ 3,085 $ - $ 3,085 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 |
Fair Value, by Balance Sheet Grouping [Table Text Block] | Carrying Fair Fair Value Measurements Using (In thousands) Value Value Level 1 Level 2 Level 3 March 31, 2020 Financial assets: Cash and cash equivalents $ 59,722 $ 59,722 $ 59,722 $ - $ - Interest-bearing time deposits 6,490 6,835 - 6,835 - Securities available for sale 253,182 253,182 - 253,182 - Loans held for sale 3,085 3,142 - 3,142 - Loans, net 465,292 476,293 - - 476,293 FHLB and other restricted stock 1,988 N/A N/A N/A N/A Accrued interest receivable 2,863 2,863 - 2,863 - Equity securities (included in other assets) 1,352 1,352 1,352 - - Financial liabilities: Deposits 722,618 723,217 - - 723,217 Accrued interest payable 219 219 - 219 - 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 - |
Note 9 - Revenue From Contrac_2
Note 9 - Revenue From Contracts With Customers (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Three Months Ended March 31, 2020 2019 (In thousands) Service charges on deposit accounts $ 506 $ 461 ATM and debit card fees 765 647 Investment advisory income 113 98 Other 33 34 Revenue from contracts with customers 1,417 1,240 Net gain (loss) on loans and investments (35 ) 192 Increase in cash value of life insurance 47 48 Other 27 25 Other noninterest income 39 265 Total noninterest income $ 1,456 $ 1,505 |
Note 1 - Presentation of Inte_2
Note 1 - Presentation of Interim Information (Details Textual) $ in Millions | 1 Months Ended |
Apr. 29, 2020USD ($) | |
Subsequent Event [Member] | |
Authorization Received for PPP Loans, Amount | $ 44.6 |
Note 2 - Investment Securitie_2
Note 2 - Investment Securities (Details Textual) - USD ($) | 1 Months Ended | 3 Months Ended | ||
Sep. 30, 2018 | Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2019 | |
Available-for-Sale, Securities in Unrealized Loss Positions, Depreciation from Amortized Cost Percentage | 1.00% | |||
Other-than-temporary Impairment Loss, Debt Securities, Available-for-sale, Total | $ 0 | |||
Debt Securities, Available-for-sale, Realized Loss | 394,000 | $ 86,000 | ||
Debt Securities, Time Deposits, Realized Loss | 0 | 11,000 | ||
Debt Securities, Available-for-sale, Realized Gain | 0 | $ 131,000 | ||
Investment, Number of Shares Acquired (in shares) | 90,000 | |||
Investment Ownership Percentage | 5.00% | |||
Payments to Acquire Other Investments | $ 1,900,000 | |||
Equity Securities, FV-NI | $ 1,400,000 | $ 1,700,000 |
Note 2 - Investment Securitie_3
Note 2 - Investment Securities - Investment Securities (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Securities available for sale, amortized cost | $ 247,059 | $ 251,819 |
Securities available for sale, gross unrealized gains | 6,343 | 3,644 |
Securities available for sale, gross unrealized losses | 220 | 901 |
Securities available for sale, at fair value | 253,182 | 254,562 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Securities available for sale, amortized cost | 68,746 | 69,984 |
Securities available for sale, gross unrealized gains | 1,323 | 90 |
Securities available for sale, gross unrealized losses | 576 | |
Securities available for sale, at fair value | 70,069 | 69,498 |
Agency Collateralized Mortgage Obligations [Member] | ||
Securities available for sale, amortized cost | 41,377 | 43,067 |
Securities available for sale, gross unrealized gains | 370 | 238 |
Securities available for sale, gross unrealized losses | 138 | 221 |
Securities available for sale, at fair value | 41,609 | 43,084 |
US Government Agencies Debt Securities [Member] | ||
Securities available for sale, amortized cost | 59,139 | 64,162 |
Securities available for sale, gross unrealized gains | 1,430 | 473 |
Securities available for sale, gross unrealized losses | 79 | |
Securities available for sale, at fair value | 60,569 | 64,556 |
Municipal Notes [Member] | ||
Securities available for sale, amortized cost | 77,797 | 74,606 |
Securities available for sale, gross unrealized gains | 3,220 | 2,843 |
Securities available for sale, gross unrealized losses | 82 | 25 |
Securities available for sale, at fair value | $ 80,935 | $ 77,424 |
Note 2 - Investment Securitie_4
Note 2 - Investment Securities - Amortized Cost and Fair Value of Debt Securities by Contractual Maturity (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Securities available for sale, amortized cost, due in one year or less | $ 18,895 | |
Securities available for sale, fair value, due in one year or less | 18,949 | |
Securities available for sale, amortized cost, due after one year through five years | 48,810 | |
Securities available for sale, fair value, due after one year through five years | 50,327 | |
Securities available for sale, amortized cost, due after five years through ten years | 27,915 | |
Securities available for sale, fair value, due after five years through ten years | 29,154 | |
Securities available for sale, amortized cost, due after ten years | 41,316 | |
Securities available for sale, fair value, due after ten years | 43,074 | |
Securities available for sale, amortized cost, single maturity | 136,936 | |
Securities available for sale, fair value, single maturity | 141,504 | |
Securities available for sale, amortized cost, Mortgage-backed securities and CMO | 110,123 | |
Securities available for sale, fair value, Mortgage-backed securities and CMO | 111,678 | |
Securities available for sale, amortized cost | 247,059 | $ 251,819 |
Securities available for sale, fair value | 253,182 | $ 254,562 |
Debt Securities [Member] | ||
Securities available for sale, amortized cost | 247,059 | |
Securities available for sale, fair value | $ 253,182 |
Note 2 - Investment Securitie_5
Note 2 - Investment Securities - Investment Securities Available for Sale (Details) $ in Thousands | Mar. 31, 2020USD ($) | Dec. 31, 2019USD ($) |
Number of investment positions - less than twelve months | 22 | 24 |
Fair value - less than twelve months | $ 20,641 | $ 24,264 |
Gross unrealized losses - less than twelve months | $ 219 | $ 201 |
Number of investment positions - more than twelve months | 2 | 75 |
Fair value - more than twelve months | $ 322 | $ 93,852 |
Gross unrealized losses - more than twelve months | $ 1 | $ 700 |
Number of investment positions | 24 | 99 |
Fair value | $ 20,963 | $ 118,116 |
Gross unrealized losses | $ 220 | $ 901 |
Agency Collateralized Mortgage Obligations [Member] | ||
Number of investment positions - less than twelve months | 15 | 13 |
Fair value - less than twelve months | $ 16,012 | $ 14,749 |
Gross unrealized losses - less than twelve months | $ 137 | $ 157 |
Number of investment positions - more than twelve months | 2 | 15 |
Fair value - more than twelve months | $ 322 | $ 7,113 |
Gross unrealized losses - more than twelve months | $ 1 | $ 64 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Number of investment positions - less than twelve months | 5 | |
Fair value - less than twelve months | $ 723 | |
Gross unrealized losses - less than twelve months | $ 2 | |
Number of investment positions - more than twelve months | 50 | |
Fair value - more than twelve months | $ 49,033 | |
Gross unrealized losses - more than twelve months | $ 574 | |
US States and Political Subdivisions Debt Securities [Member] | ||
Number of investment positions - less than twelve months | 7 | 4 |
Fair value - less than twelve months | $ 4,629 | $ 3,241 |
Gross unrealized losses - less than twelve months | $ 82 | $ 25 |
US Government Agencies Debt Securities [Member] | ||
Number of investment positions - less than twelve months | 2 | |
Fair value - less than twelve months | $ 5,551 | |
Gross unrealized losses - less than twelve months | $ 17 | |
Number of investment positions - more than twelve months | 10 | |
Fair value - more than twelve months | $ 37,706 | |
Gross unrealized losses - more than twelve months | $ 62 |
Note 3 - Loans and Allowance _3
Note 3 - Loans and Allowance for Loan Losses (Details Textual) | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2020USD ($) | Sep. 30, 2019USD ($) | Mar. 31, 2019USD ($) | Dec. 31, 2019USD ($) | Apr. 24, 2020 | |
Loans Charge-off Period (Day) | 90 days | ||||
Performance Period (Year) | 6 years | ||||
Collateral Dependent Loans, Value of Significant Properties | $ 200,000 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Foreclosure | 0 | $ 170,000 | |||
Mortgage Loans in Process of Foreclosure, Amount | 289,000 | 319,000 | |||
Impaired Financing Receivable, Interest Income, Cash Basis Method, Total | 0 | $ 0 | |||
Financing Receivable, Troubled Debt Restructuring, Commitment to Lend | 0 | 0 | |||
Financing Receivable, Modifications, Number of Contracts | 0 | ||||
Financing Receivable, Troubled Debt Restructuring, Premodification and Postmodification | $ 265,000 | ||||
Troubled Debt Restructuring, Principal Charge-offs | $ 0 | $ 0 | |||
Troubled Debt Restructuring, Specific Allowance | $ 0 | $ 0 | |||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 0 | 0 | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance, Total | $ 452,000 | 466,000 | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Allowance for Loan Losses | $ 23,000 | $ 11,000 | 12,000 | ||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Allowance for Loan Losses | $ 0 | ||||
Subsequent Event [Member] | |||||
Financing Receivable, Percentage Payment Extensions Approved Under PPP | 11.70% | ||||
Commercial Real Estate Portfolio Segment [Member] | |||||
Financing Receivable, Modifications, Number of Contracts | 1 | ||||
Residential Portfolio Segment [Member] | |||||
Financing Receivable, Modifications, Number of Contracts | 1 | ||||
Classified Loans [Member] | |||||
Allowance for Loan and Lease Losses, Period Increase (Decrease), Total | $ 407,000 | 386,000 | |||
Overall Qualitative Factor [Member] | |||||
Allowance for Loan and Lease Losses, Period Increase (Decrease), Total | $ 4,100,000 | $ 3,800,000 | |||
Bank Overdrafts [Member] | |||||
Loans Charge-off Period (Day) | 45 days |
Note 3 - Loans and Allowance _4
Note 3 - Loans and Allowance for Loan Losses - Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 | Mar. 31, 2019 | Dec. 31, 2018 |
Loans | $ 494,116 | $ 493,499 | ||
Less undisbursed portion of loans in process | (24,638) | (23,081) | ||
Principal loan balance | 469,478 | 470,418 | ||
Deferred loan origination fees, net | 1,121 | 1,137 | ||
Allowance for loan losses | (5,307) | (5,061) | $ (4,339) | $ (4,065) |
Loans, net | 465,292 | 466,494 | ||
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | ||||
Loans | 128,039 | 131,959 | ||
Allowance for loan losses | (929) | (867) | (727) | (693) |
Real Estate Mortgage Portfolio Segment [Member] | Land Loan [Member] | ||||
Loans | 18,861 | 19,185 | ||
Principal loan balance | 18,861 | 19,185 | ||
Deferred loan origination fees, net | 14 | 15 | ||
Allowance for loan losses | (163) | (163) | (164) | (162) |
Real Estate Mortgage Portfolio Segment [Member] | Residential Construction [Member] | ||||
Loans | 42,760 | 35,554 | ||
Real Estate Mortgage Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | ||||
Loans | 129,180 | 121,563 | ||
Principal loan balance | 129,180 | 121,563 | ||
Deferred loan origination fees, net | (68) | (62) | ||
Allowance for loan losses | (1,735) | (1,623) | (1,391) | (1,401) |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Real Estate Construction [Member] | ||||
Loans | 12,620 | 20,086 | ||
Commercial Portfolio Segment [Member] | ||||
Loans | 44,811 | 45,307 | ||
Principal loan balance | 44,811 | 45,307 | ||
Deferred loan origination fees, net | ||||
Allowance for loan losses | (620) | (595) | (541) | (459) |
Consumer Portfolio Segment [Member] | Home Equity and Second Mortgage [Member] | ||||
Loans | 54,655 | 54,677 | ||
Principal loan balance | 54,655 | 54,677 | ||
Deferred loan origination fees, net | 1,065 | 1,067 | ||
Allowance for loan losses | (550) | (515) | (450) | (443) |
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | ||||
Loans | 45,304 | 46,443 | ||
Consumer Portfolio Segment [Member] | Loans Secured by Deposits [Member] | ||||
Loans | 1,318 | 1,372 | ||
Consumer Portfolio Segment [Member] | Unsecured Loan [Member] | ||||
Loans | 3,434 | 3,653 | ||
Consumer Portfolio Segment [Member] | Other Consumer Loan [Member] | ||||
Loans | 13,134 | 13,700 | ||
Allowance for loan losses | $ (957) | $ (948) | $ (775) | $ (683) |
Note 3 - Loans and Allowance _5
Note 3 - Loans and Allowance for Loan Losses - Recorded Investments in Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Principal loan balance | $ 469,478 | $ 470,418 |
Accrued interest receivable | 1,526 | 1,632 |
Net deferred loan origination fees and costs | 1,121 | 1,137 |
Recorded investment in loans | 472,125 | 473,187 |
Individually evaluated for impairment | 2,747 | 2,747 |
Collectively evaluated for impairment | 469,060 | 470,116 |
Financial Asset Acquired with Credit Deterioration [Member] | ||
Recorded investment in loans | 318 | 324 |
Real Estate Mortgage Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Principal loan balance | 128,039 | 131,959 |
Accrued interest receivable | 453 | 462 |
Net deferred loan origination fees and costs | 116 | 118 |
Recorded investment in loans | 128,608 | 132,539 |
Individually evaluated for impairment | 1,840 | 1,926 |
Collectively evaluated for impairment | 126,487 | 130,328 |
Real Estate Mortgage Portfolio Segment [Member] | Real Estate Loan [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||
Recorded investment in loans | 281 | 285 |
Real Estate Mortgage Portfolio Segment [Member] | Land Loan [Member] | ||
Principal loan balance | 18,861 | 19,185 |
Accrued interest receivable | 98 | 114 |
Net deferred loan origination fees and costs | 14 | 15 |
Recorded investment in loans | 18,973 | 19,314 |
Individually evaluated for impairment | 115 | 115 |
Collectively evaluated for impairment | 18,858 | 19,199 |
Real Estate Mortgage Portfolio Segment [Member] | Land Loan [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||
Recorded investment in loans | ||
Real Estate Mortgage Portfolio Segment [Member] | Construction Loans [Member] | ||
Principal loan balance | 30,742 | 32,559 |
Accrued interest receivable | 70 | 86 |
Net deferred loan origination fees and costs | (6) | (1) |
Recorded investment in loans | 30,806 | 32,644 |
Individually evaluated for impairment | ||
Collectively evaluated for impairment | 30,806 | 32,644 |
Real Estate Mortgage Portfolio Segment [Member] | Construction Loans [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||
Recorded investment in loans | ||
Real Estate Mortgage Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | ||
Principal loan balance | 129,180 | 121,563 |
Accrued interest receivable | 344 | 312 |
Net deferred loan origination fees and costs | (68) | (62) |
Recorded investment in loans | 129,456 | 121,813 |
Individually evaluated for impairment | 447 | 353 |
Collectively evaluated for impairment | 128,972 | 121,421 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||
Recorded investment in loans | 37 | 39 |
Commercial Portfolio Segment [Member] | ||
Principal loan balance | 44,811 | 45,307 |
Accrued interest receivable | 117 | 142 |
Net deferred loan origination fees and costs | ||
Recorded investment in loans | 44,928 | 45,449 |
Individually evaluated for impairment | 247 | 249 |
Collectively evaluated for impairment | 44,681 | 45,200 |
Commercial Portfolio Segment [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||
Recorded investment in loans | ||
Consumer Portfolio Segment [Member] | Home Equity and Second Mortgage [Member] | ||
Principal loan balance | 54,655 | 54,677 |
Accrued interest receivable | 218 | 244 |
Net deferred loan origination fees and costs | 1,065 | 1,067 |
Recorded investment in loans | 55,938 | 55,988 |
Individually evaluated for impairment | 56 | 56 |
Collectively evaluated for impairment | 55,882 | 55,932 |
Consumer Portfolio Segment [Member] | Home Equity and Second Mortgage [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||
Recorded investment in loans | ||
Consumer Portfolio Segment [Member] | All Other Consumer Excluding Home Equity and Second Mortgage [Member] | ||
Principal loan balance | 63,190 | 65,168 |
Accrued interest receivable | 226 | 272 |
Net deferred loan origination fees and costs | ||
Recorded investment in loans | 63,416 | 65,440 |
Individually evaluated for impairment | 42 | 48 |
Collectively evaluated for impairment | 63,374 | 65,392 |
Consumer Portfolio Segment [Member] | All Other Consumer Excluding Home Equity and Second Mortgage [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||
Recorded investment in loans |
Note 3 - Loans and Allowance _6
Note 3 - Loans and Allowance for Loan Losses - Allowance for Loan Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | |||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2020 | Dec. 31, 2019 | |
Individually evaluated for impairment | $ 15 | $ 16 | ||
Collectively evaluated for impairment | 5,269 | 5,033 | ||
Allowance for loan losses | $ 5,061 | $ 4,339 | 5,307 | 5,061 |
Beginning balance | 5,061 | 4,065 | ||
Provision for loan losses | 351 | 450 | ||
Charge-offs | (159) | (220) | ||
Recoveries | 54 | 44 | ||
Ending balance | 5,307 | 4,339 | ||
Financial Asset Acquired with Credit Deterioration [Member] | ||||
Allowance for loan losses | 12 | 23 | 12 | |
Beginning balance | 12 | |||
Ending balance | 23 | |||
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | ||||
Individually evaluated for impairment | 15 | 16 | ||
Collectively evaluated for impairment | 891 | 839 | ||
Allowance for loan losses | 867 | 727 | 929 | 867 |
Beginning balance | 867 | 693 | ||
Provision for loan losses | 62 | 71 | ||
Charge-offs | (39) | |||
Recoveries | 2 | |||
Ending balance | 929 | 727 | ||
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||||
Allowance for loan losses | 12 | 23 | 12 | |
Beginning balance | 12 | |||
Ending balance | 23 | |||
Real Estate Mortgage Portfolio Segment [Member] | Land Loan [Member] | ||||
Individually evaluated for impairment | ||||
Collectively evaluated for impairment | 163 | 163 | ||
Allowance for loan losses | 163 | 164 | 163 | 163 |
Beginning balance | 163 | 162 | ||
Provision for loan losses | 2 | |||
Charge-offs | ||||
Recoveries | ||||
Ending balance | 163 | 164 | ||
Real Estate Mortgage Portfolio Segment [Member] | Land Loan [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||||
Allowance for loan losses | ||||
Ending balance | ||||
Real Estate Mortgage Portfolio Segment [Member] | Construction Loans [Member] | ||||
Individually evaluated for impairment | ||||
Collectively evaluated for impairment | 353 | 350 | ||
Allowance for loan losses | 350 | 291 | 353 | 350 |
Beginning balance | 350 | 224 | ||
Provision for loan losses | 3 | 67 | ||
Charge-offs | ||||
Recoveries | ||||
Ending balance | 353 | 291 | ||
Real Estate Mortgage Portfolio Segment [Member] | Construction Loans [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||||
Allowance for loan losses | ||||
Ending balance | ||||
Real Estate Mortgage Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | ||||
Individually evaluated for impairment | ||||
Collectively evaluated for impairment | 1,735 | 1,623 | ||
Allowance for loan losses | 1,623 | 1,391 | 1,735 | 1,623 |
Beginning balance | 1,623 | 1,401 | ||
Provision for loan losses | 112 | (10) | ||
Charge-offs | ||||
Recoveries | ||||
Ending balance | 1,735 | 1,391 | ||
Real Estate Mortgage Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||||
Allowance for loan losses | ||||
Ending balance | ||||
Commercial Portfolio Segment [Member] | ||||
Individually evaluated for impairment | ||||
Collectively evaluated for impairment | 620 | 595 | ||
Allowance for loan losses | 595 | 541 | 620 | 595 |
Beginning balance | 595 | 459 | ||
Provision for loan losses | 25 | 82 | ||
Charge-offs | ||||
Recoveries | ||||
Ending balance | 620 | 541 | ||
Commercial Portfolio Segment [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||||
Allowance for loan losses | ||||
Ending balance | ||||
Consumer Portfolio Segment [Member] | Home Equity and Second Mortgage [Member] | ||||
Individually evaluated for impairment | ||||
Collectively evaluated for impairment | 550 | 515 | ||
Allowance for loan losses | 515 | 450 | 550 | 515 |
Beginning balance | 515 | 443 | ||
Provision for loan losses | 33 | 5 | ||
Charge-offs | ||||
Recoveries | 2 | 2 | ||
Ending balance | 550 | 450 | ||
Consumer Portfolio Segment [Member] | Home Equity and Second Mortgage [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||||
Allowance for loan losses | ||||
Ending balance | ||||
Consumer Portfolio Segment [Member] | Other Consumer Loan [Member] | ||||
Allowance for loan losses | 957 | 775 | 957 | 948 |
Beginning balance | 948 | 683 | ||
Provision for loan losses | 116 | 233 | ||
Charge-offs | (159) | (181) | ||
Recoveries | 52 | 40 | ||
Ending balance | 957 | $ 775 | ||
Consumer Portfolio Segment [Member] | All Other Consumer Excluding Home Equity and Second Mortgage [Member] | ||||
Individually evaluated for impairment | ||||
Collectively evaluated for impairment | 957 | 948 | ||
Allowance for loan losses | 948 | 957 | $ 948 | |
Beginning balance | 948 | |||
Ending balance | 957 | |||
Consumer Portfolio Segment [Member] | All Other Consumer Excluding Home Equity and Second Mortgage [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||||
Allowance for loan losses | ||||
Ending balance |
Note 3 - Loans and Allowance _7
Note 3 - Loans and Allowance for Loan Losses - Impaired Loans (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2019 | |
Recorded investment with no allowance | $ 178 | $ 2,558 | |
Unpaid principal balance with no allowance | 198 | 2,818 | |
Related allowance with no allowance | |||
Average recorded investment with no allowance | 184 | $ 312 | |
Interest income recognized with no allowance | |||
Recorded investment with allowance | 2,747 | 189 | |
Unpaid principal balance with allowance | 3,044 | 211 | |
Related allowance | 15 | 16 | |
Average recorded investment with allowance | 2,748 | 3,868 | |
Interest income recognized with allowance | 18 | 8 | |
Recorded investment | 2,747 | ||
Unpaid principal balance | 3,029 | ||
Related allowance | 15 | 16 | |
Unpaid principal balance with no allowance | 198 | 2,818 | |
Unpaid principal balance | 3,029 | ||
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | |||
Recorded investment with no allowance | 1,662 | 1,737 | |
Unpaid principal balance with no allowance | 1,927 | 1,986 | |
Related allowance with no allowance | |||
Average recorded investment with no allowance | 1,700 | 2,181 | |
Interest income recognized with no allowance | 6 | 3 | |
Recorded investment with allowance | 178 | 189 | |
Unpaid principal balance with allowance | 198 | 211 | |
Related allowance | 15 | 16 | |
Average recorded investment with allowance | 184 | 76 | |
Interest income recognized with allowance | |||
Recorded investment | 1,840 | 1,926 | |
Unpaid principal balance | 2,125 | 2,197 | |
Related allowance | 15 | 16 | |
Average recorded investment | 1,884 | 2,257 | |
Interest income recognized | 6 | 3 | |
Unpaid principal balance with no allowance | 1,927 | 1,986 | |
Unpaid principal balance | 2,125 | 2,197 | |
Real Estate Mortgage Portfolio Segment [Member] | Land Loan [Member] | |||
Recorded investment with no allowance | 115 | 115 | |
Unpaid principal balance with no allowance | 119 | 117 | |
Related allowance with no allowance | |||
Average recorded investment with no allowance | 115 | 171 | |
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 | 115 | 115 | |
Unpaid principal balance | 119 | 117 | |
Related allowance | |||
Average recorded investment | 115 | 171 | |
Interest income recognized | |||
Unpaid principal balance with no allowance | 119 | 117 | |
Unpaid principal balance | 119 | 117 | |
Real Estate Mortgage Portfolio Segment [Member] | Construction Loans [Member] | |||
Recorded investment with no allowance | |||
Unpaid principal balance with no allowance | |||
Related allowance with no allowance | |||
Average recorded investment with no allowance | 523 | ||
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 | |||
Unpaid principal balance | |||
Related allowance | |||
Average recorded investment | 523 | ||
Interest income recognized | |||
Unpaid principal balance with no allowance | |||
Unpaid principal balance | |||
Real Estate Mortgage Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | |||
Recorded investment with no allowance | 447 | 353 | |
Unpaid principal balance with no allowance | 446 | 352 | |
Related allowance with no allowance | |||
Average recorded investment with no allowance | 400 | 253 | |
Interest income recognized with no allowance | 9 | 2 | |
Recorded investment with allowance | |||
Unpaid principal balance with allowance | |||
Related allowance | |||
Average recorded investment with allowance | 103 | ||
Interest income recognized with allowance | |||
Recorded investment | 447 | 353 | |
Unpaid principal balance | 446 | 352 | |
Related allowance | |||
Average recorded investment | 400 | 356 | |
Interest income recognized | 9 | 2 | |
Unpaid principal balance with no allowance | 446 | 352 | |
Unpaid principal balance | 446 | 352 | |
Commercial Portfolio Segment [Member] | |||
Recorded investment with no allowance | 247 | 249 | |
Unpaid principal balance with no allowance | 255 | 257 | |
Related allowance with no allowance | |||
Average recorded investment with no allowance | 248 | 398 | |
Interest income recognized with no allowance | 2 | 3 | |
Recorded investment with allowance | |||
Unpaid principal balance with allowance | |||
Related allowance | |||
Average recorded investment with allowance | 119 | ||
Interest income recognized with allowance | |||
Recorded investment | 247 | 249 | |
Unpaid principal balance | 255 | 257 | |
Related allowance | |||
Average recorded investment | 248 | 517 | |
Interest income recognized | 2 | 3 | |
Unpaid principal balance with no allowance | 255 | 257 | |
Unpaid principal balance | 255 | 257 | |
Consumer Portfolio Segment [Member] | Home Equity and Second Mortgage [Member] | |||
Recorded investment with no allowance | 56 | 56 | |
Unpaid principal balance with no allowance | 55 | 56 | |
Related allowance with no allowance | |||
Average recorded investment with no allowance | 56 | 30 | |
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 | 56 | 56 | |
Unpaid principal balance | 55 | 56 | |
Related allowance | |||
Average recorded investment | 56 | 44 | |
Interest income recognized | 1 | ||
Unpaid principal balance with no allowance | 55 | 56 | |
Unpaid principal balance | 55 | 56 | |
Consumer Portfolio Segment [Member] | All Other Consumer Excluding Home Equity and Second Mortgage [Member] | |||
Recorded investment with no allowance | 42 | 48 | |
Unpaid principal balance with no allowance | 44 | 50 | |
Related allowance with no allowance | |||
Average recorded investment with no allowance | 45 | ||
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 | 42 | 48 | |
Unpaid principal balance | 44 | 50 | |
Related allowance | |||
Average recorded investment | 45 | ||
Interest income recognized | |||
Unpaid principal balance with no allowance | 44 | 50 | |
Unpaid principal balance | $ 44 | $ 50 |
Note 3 - Loans and Allowance _8
Note 3 - Loans and Allowance for Loan Losses - Recorded Investment in Nonperforming Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Total Nonperforming Loans | $ 6,093 | $ 6,258 |
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | ||
Total Nonperforming Loans | 3,486 | 4,406 |
Real Estate Mortgage Portfolio Segment [Member] | Land Loan [Member] | ||
Total Nonperforming Loans | 222 | 366 |
Real Estate Mortgage Portfolio Segment [Member] | Construction Loans [Member] | ||
Total Nonperforming Loans | 51 | |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | ||
Total Nonperforming Loans | 921 | 146 |
Commercial Portfolio Segment [Member] | ||
Total Nonperforming Loans | 391 | 119 |
Consumer Portfolio Segment [Member] | Home Equity and Second Mortgage [Member] | ||
Total Nonperforming Loans | 559 | 651 |
Consumer Portfolio Segment [Member] | All Other Consumer Excluding Home Equity and Second Mortgage [Member] | ||
Total Nonperforming Loans | 463 | 570 |
Nonperforming Financial Instruments [Member] | ||
Nonaccrual Loans | 1,677 | 1,765 |
Loans 90+ Days Past Due Still Accruing | 56 | 13 |
Total Nonperforming Loans | 1,733 | 1,778 |
Nonperforming Financial Instruments [Member] | Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | ||
Nonaccrual Loans | 1,460 | 1,544 |
Loans 90+ Days Past Due Still Accruing | 55 | 13 |
Total Nonperforming Loans | 1,515 | 1,557 |
Nonperforming Financial Instruments [Member] | Real Estate Mortgage Portfolio Segment [Member] | Land Loan [Member] | ||
Nonaccrual Loans | 115 | 115 |
Loans 90+ Days Past Due Still Accruing | ||
Total Nonperforming Loans | 115 | 115 |
Nonperforming Financial Instruments [Member] | Real Estate Mortgage Portfolio Segment [Member] | Construction Loans [Member] | ||
Nonaccrual Loans | ||
Loans 90+ Days Past Due Still Accruing | ||
Total Nonperforming Loans | ||
Nonperforming Financial Instruments [Member] | Real Estate Mortgage Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | ||
Nonaccrual Loans | ||
Loans 90+ Days Past Due Still Accruing | ||
Total Nonperforming Loans | ||
Nonperforming Financial Instruments [Member] | Commercial Portfolio Segment [Member] | ||
Nonaccrual Loans | 61 | 58 |
Loans 90+ Days Past Due Still Accruing | ||
Total Nonperforming Loans | 61 | 58 |
Nonperforming Financial Instruments [Member] | Consumer Portfolio Segment [Member] | Home Equity and Second Mortgage [Member] | ||
Nonaccrual Loans | ||
Loans 90+ Days Past Due Still Accruing | ||
Total Nonperforming Loans | ||
Nonperforming Financial Instruments [Member] | Consumer Portfolio Segment [Member] | All Other Consumer Excluding Home Equity and Second Mortgage [Member] | ||
Nonaccrual Loans | 41 | 48 |
Loans 90+ Days Past Due Still Accruing | 1 | |
Total Nonperforming Loans | $ 42 | $ 48 |
Note 3 - Loans and Allowance _9
Note 3 - Loans and Allowance for Loan Losses - Aging of Recorded Investment in Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Past Due | $ 6,093 | $ 6,258 |
Current | 465,714 | 466,605 |
Loans | 472,125 | 473,187 |
Financial Asset Acquired with Credit Deterioration [Member] | ||
Loans | 318 | 324 |
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | ||
Past Due | 3,486 | 4,406 |
Current | 124,841 | 127,848 |
Loans | 128,608 | 132,539 |
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||
Loans | 281 | 285 |
Real Estate Mortgage Portfolio Segment [Member] | Land Loan [Member] | ||
Past Due | 222 | 366 |
Current | 18,751 | 18,948 |
Loans | 18,973 | 19,314 |
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 | 51 | |
Current | 30,755 | 32,644 |
Loans | 30,806 | 32,644 |
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 | 921 | 146 |
Current | 128,498 | 121,628 |
Loans | 129,456 | 121,813 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||
Loans | 37 | 39 |
Commercial Portfolio Segment [Member] | ||
Past Due | 391 | 119 |
Current | 44,537 | 45,330 |
Loans | 44,928 | 45,449 |
Commercial Portfolio Segment [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||
Loans | ||
Consumer Portfolio Segment [Member] | Home Equity and Second Mortgage [Member] | ||
Past Due | 559 | 651 |
Current | 55,379 | 55,337 |
Loans | 55,938 | 55,988 |
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 | 463 | 570 |
Current | 62,953 | 64,870 |
Loans | 63,416 | 65,440 |
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 | 3,779 | 3,717 |
Financial Asset, 30 to 59 Days Past Due [Member] | Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | ||
Past Due | 2,050 | 2,572 |
Financial Asset, 30 to 59 Days Past Due [Member] | Real Estate Mortgage Portfolio Segment [Member] | Land Loan [Member] | ||
Past Due | 130 | 185 |
Financial Asset, 30 to 59 Days Past Due [Member] | Real Estate Mortgage Portfolio Segment [Member] | Construction Loans [Member] | ||
Past Due | 51 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Real Estate Mortgage Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | ||
Past Due | 672 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial Portfolio Segment [Member] | ||
Past Due | 112 | 61 |
Financial Asset, 30 to 59 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Home Equity and Second Mortgage [Member] | ||
Past Due | 355 | 395 |
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 | 409 | 504 |
Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past Due | 1,131 | 1,393 |
Financial Asset, 60 to 89 Days Past Due [Member] | Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | ||
Past Due | 401 | 824 |
Financial Asset, 60 to 89 Days Past Due [Member] | Real Estate Mortgage Portfolio Segment [Member] | Land Loan [Member] | ||
Past Due | 6 | 101 |
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 | 249 | 146 |
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial Portfolio Segment [Member] | ||
Past Due | 218 | |
Financial Asset, 60 to 89 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Home Equity and Second Mortgage [Member] | ||
Past Due | 204 | 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 | 53 | 66 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past Due | 1,183 | 1,148 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | ||
Past Due | 1,035 | 1,010 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Real Estate Mortgage Portfolio Segment [Member] | Land Loan [Member] | ||
Past Due | 86 | 80 |
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 | 61 | 58 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Home Equity and Second Mortgage [Member] | ||
Past Due | ||
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 | $ 1 |
Note 3 - Loans and Allowance_10
Note 3 - Loans and Allowance for Loan Losses - Recorded Investment in Loans by Risk Category (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Loans | $ 472,125 | $ 473,187 |
Pass [Member] | ||
Loans | 464,278 | 466,049 |
Special Mention [Member] | ||
Loans | 2,017 | 2,209 |
Substandard [Member] | ||
Loans | 4,191 | 3,164 |
Doubtful [Member] | ||
Loans | 1,639 | 1,765 |
Unlikely to be Collected Financing Receivable [Member] | ||
Loans | ||
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | ||
Loans | 128,608 | 132,539 |
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | Pass [Member] | ||
Loans | 125,357 | 129,613 |
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | Special Mention [Member] | ||
Loans | 386 | 46 |
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | Substandard [Member] | ||
Loans | 1,443 | 1,336 |
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | Doubtful [Member] | ||
Loans | 1,422 | 1,544 |
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | Unlikely to be Collected Financing Receivable [Member] | ||
Loans | ||
Real Estate Mortgage Portfolio Segment [Member] | Land Loan [Member] | ||
Loans | 18,973 | 19,314 |
Real Estate Mortgage Portfolio Segment [Member] | Land Loan [Member] | Pass [Member] | ||
Loans | 18,460 | 18,805 |
Real Estate Mortgage Portfolio Segment [Member] | Land Loan [Member] | Special Mention [Member] | ||
Loans | 321 | 327 |
Real Estate Mortgage Portfolio Segment [Member] | Land Loan [Member] | Substandard [Member] | ||
Loans | 77 | 67 |
Real Estate Mortgage Portfolio Segment [Member] | Land Loan [Member] | Doubtful [Member] | ||
Loans | 115 | 115 |
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 | 30,806 | 32,644 |
Real Estate Mortgage Portfolio Segment [Member] | Construction Loans [Member] | Pass [Member] | ||
Loans | 30,806 | 32,394 |
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 | ||
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 | 129,456 | 121,813 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | Pass [Member] | ||
Loans | 126,799 | 119,469 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | Special Mention [Member] | ||
Loans | 784 | 1,136 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | Substandard [Member] | ||
Loans | 1,873 | 1,208 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | Doubtful [Member] | ||
Loans | ||
Real Estate Mortgage Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | Unlikely to be Collected Financing Receivable [Member] | ||
Loans | ||
Commercial Portfolio Segment [Member] | ||
Loans | 44,928 | 45,449 |
Commercial Portfolio Segment [Member] | Pass [Member] | ||
Loans | 44,032 | 44,879 |
Commercial Portfolio Segment [Member] | Special Mention [Member] | ||
Loans | 464 | 378 |
Commercial Portfolio Segment [Member] | Substandard [Member] | ||
Loans | 371 | 134 |
Commercial Portfolio Segment [Member] | Doubtful [Member] | ||
Loans | 61 | 58 |
Commercial Portfolio Segment [Member] | Unlikely to be Collected Financing Receivable [Member] | ||
Loans | ||
Consumer Portfolio Segment [Member] | Home Equity and Second Mortgage [Member] | ||
Loans | 55,938 | 55,988 |
Consumer Portfolio Segment [Member] | Home Equity and Second Mortgage [Member] | Pass [Member] | ||
Loans | 55,511 | 55,569 |
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 | 427 | 419 |
Consumer Portfolio Segment [Member] | Home Equity and Second Mortgage [Member] | Doubtful [Member] | ||
Loans | ||
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 | 63,416 | 65,440 |
Consumer Portfolio Segment [Member] | All Other Consumer Excluding Home Equity and Second Mortgage [Member] | Pass [Member] | ||
Loans | 63,313 | 65,320 |
Consumer Portfolio Segment [Member] | All Other Consumer Excluding Home Equity and Second Mortgage [Member] | Special Mention [Member] | ||
Loans | 62 | 72 |
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 | 41 | 48 |
Consumer Portfolio Segment [Member] | All Other Consumer Excluding Home Equity and Second Mortgage [Member] | Unlikely to be Collected Financing Receivable [Member] | ||
Loans |
Note 3 - Loans and Allowance_11
Note 3 - Loans and Allowance for Loan Losses - Troubled Debt Restructuring by Accrual Status (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Recorded investment in loans | $ 472,125 | $ 473,187 |
Loans | 472,125 | 473,187 |
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | ||
Recorded investment in loans | 128,608 | 132,539 |
Loans | 128,608 | 132,539 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | ||
Recorded investment in loans | 129,456 | 121,813 |
Loans | 129,456 | 121,813 |
Commercial Portfolio Segment [Member] | ||
Recorded investment in loans | 44,928 | 45,449 |
Loans | 44,928 | 45,449 |
Consumer Portfolio Segment [Member] | Home Equity and Second Mortgage [Member] | ||
Recorded investment in loans | 55,938 | 55,988 |
Loans | 55,938 | 55,988 |
Nonperforming Financial Instruments [Member] | ||
TDR accruing | 1,265 | 1,166 |
TDR nonaccrual | 65 | 66 |
Recorded investment in loans | 1,330 | 1,232 |
TDR related allowance for loan losses | ||
Loans | 1,330 | 1,232 |
Nonperforming Financial Instruments [Member] | Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | ||
TDR accruing | 381 | 367 |
TDR nonaccrual | 65 | 66 |
Recorded investment in loans | 446 | 433 |
TDR related allowance for loan losses | ||
Loans | 446 | 433 |
Nonperforming Financial Instruments [Member] | Real Estate Mortgage Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | ||
TDR accruing | 643 | 553 |
TDR nonaccrual | ||
Recorded investment in loans | 643 | 553 |
TDR related allowance for loan losses | ||
Loans | 643 | 553 |
Nonperforming Financial Instruments [Member] | Commercial Portfolio Segment [Member] | ||
TDR accruing | 186 | 191 |
TDR nonaccrual | ||
Recorded investment in loans | 186 | 191 |
TDR related allowance for loan losses | ||
Loans | 186 | 191 |
Nonperforming Financial Instruments [Member] | Consumer Portfolio Segment [Member] | Home Equity and Second Mortgage [Member] | ||
TDR accruing | 55 | 55 |
TDR nonaccrual | ||
Recorded investment in loans | 55 | 55 |
TDR related allowance for loan losses | ||
Loans | $ 55 | $ 55 |
Note 3 - Loans and Allowance_12
Note 3 - Loans and Allowance for Loan Losses - Summary of PCI Loans (Details) - USD ($) | Mar. 31, 2020 | Dec. 31, 2019 | Mar. 31, 2019 |
Carrying amount | $ 318,000 | $ 324,000 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Allowance for Loan Losses | 23,000 | 12,000 | $ 11,000 |
Carrying amount, net of allowance | 295,000 | 312,000 | |
Residential Mortgage Segment [Member] | Residential Loan [Member] | |||
Carrying amount | 281,000 | 285,000 | |
Residential Mortgage Segment [Member] | Commercial Real Estate Loan [Member] | |||
Carrying amount | $ 37,000 | $ 39,000 |
Note 3 - Loans and Allowance_13
Note 3 - Loans and Allowance for Loan Losses - Accretable Yield, or Income Expected to be Collected (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Balance at beginning of period | $ 403 | $ 423 |
New loans purchased | ||
Accretion to income | (11) | (12) |
Disposals and other adjustments | ||
Reclassification from nonaccretable difference | (17) | (2) |
Balance at end of period | $ 375 | $ 409 |
Note 4 - Qualified Affordable_2
Note 4 - Qualified Affordable Housing Project Investment (Details Textual) - USD ($) | 3 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2019 | |
Investment Amortization | $ 96,000 | $ 82,000 | |
Tax Credits and Other Tax Benefits | 111,000 | $ 125,000 | |
Other Assets [Member] | |||
Investments, Total | 3,100,000 | $ 3,200,000 | |
Other Liabilities [Member] | |||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unfunded Commitments | $ 1,100,000 | $ 1,900,000 |
Note 5 - Supplemental Disclos_3
Note 5 - Supplemental Disclosure for Earnings Per Share (Details Textual) - shares shares in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Restricted Stock [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 0 | 0 |
Note 5 - Supplemental Disclos_4
Note 5 - Supplemental Disclosure for Earnings Per Share - Supplemental Disclosure for Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Net income attributable to First Capital, Inc. | $ 2,094 | $ 2,147 |
Weighted average common shares outstanding (in shares) | 3,336,459 | 3,329,844 |
Net income attributable to First Capital, Inc. per common share, basic (in dollars per share) | $ 0.63 | $ 0.64 |
Weighted average common shares outstanding (in shares) | 3,336,459 | 3,329,844 |
Add: Dilutive effect of restricted stock (in shares) | 13,257 | 10,100 |
Weighted average common shares outstanding, as adjusted (in shares) | 3,349,716 | 3,339,944 |
Net income attributable to First Capital, Inc. per common share, diluted (in dollars per share) | $ 0.63 | $ 0.64 |
Note 6 - Stock-based Compensa_3
Note 6 - Stock-based Compensation Plans (Details Textual) - USD ($) | Feb. 18, 2020 | Feb. 19, 2019 | May 20, 2009 | Mar. 31, 2020 | Mar. 31, 2019 | 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 (in shares) | 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 (in dollars per share) | $ 67.43 | ||||||
Share-based Payment Arrangement, Expense | $ 93,000 | $ 56,000 | |||||
Share-based Payment Arrangement, Expense, Tax Benefit | $ 28,000 | $ 14,000 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period (in shares) | 750 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value | $ 54,000 | ||||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 1,800,000 | ||||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 4 years | ||||||
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 (in shares) | 14,250 | 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 (in dollars per share) | $ 67.43 | $ 52.09 | |||||
Stock Issued During Period, Value, Restricted Stock Award, Gross | $ 961,000 | $ 508,000 | |||||
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% | 20.00% | |||||
Equity Incentive Plan 2009 [Member] | Common Stock [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 223,000 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares) | 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 (in shares) | 176,150 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares) | 161,900 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year) | 10 years | ||||||
Equity Incentive Plans [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 0 |
Note 6 - Stock-based Compensa_4
Note 6 - Stock-based Compensation Plan - Summary of Nonvested Restricted Shares (Details) - Restricted Stock [Member] | 3 Months Ended |
Mar. 31, 2020$ / sharesshares | |
Nonvested, number of shares (in shares) | shares | 27,750 |
Nonvested, weight average grant date fair value (in dollars per share) | $ / shares | $ 41.08 |
Granted, number of shares (in shares) | shares | 14,250 |
Granted, weight average grant date fair value (in dollars per share) | $ / shares | $ 67.43 |
Vested, number of shares (in shares) | shares | 750 |
Vested, weight average grant date fair value (in dollars per share) | $ / shares | $ 40.59 |
Forfeited, number of shares (in shares) | shares | |
Forfeited, weight average grant date fair value (in dollars per share) | $ / shares | |
Nonvested, number of shares (in shares) | shares | 41,250 |
Nonvested, weight average grant date fair value (in dollars per share) | $ / shares | $ 50.19 |
Note 7 - Supplemental Disclos_3
Note 7 - Supplemental Disclosures of Cash Flow Information - Supplemental Disclosures of Cash Flow Information (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Interest | $ 459 | $ 428 |
Taxes (net of refunds received) | $ 0 | $ 0 |
Note 8 - Fair Value Measureme_3
Note 8 - Fair Value Measurements (Details Textual) - USD ($) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2019 | |
Financial and Nonfinancial Liabilities, Fair Value Disclosure | $ 0 | $ 0 | |
Provision for Loan and Lease Losses, Total | 351,000 | $ 450,000 | |
Real Estate Acquired through Foreclosure, Fair Value Disclosure | 0 | ||
Impaired Loan [Member] | |||
Provision for Loan and Lease Losses, Total | 1,000 | 20,000 | |
Foreclosed Real Estate [Member] | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Write-down or Reserve, Amount | $ 0 | $ 137,000 | |
Fair Value, Inputs, Level 3 [Member] | Impaired Loan [Member] | Minimum [Member] | |||
Fair Value Inputs, Estimated Selling Costs | 40.00% | 40.00% | |
Fair Value, Inputs, Level 3 [Member] | Impaired Loan [Member] | Maximum [Member] | |||
Fair Value Inputs, Estimated Selling Costs | 47.00% | 66.00% | |
Fair Value, Inputs, Level 3 [Member] | Impaired Loan [Member] | Weighted Average [Member] | |||
Fair Value Inputs, Estimated Selling Costs | 45.00% | 47.00% | |
Fair Value, Inputs, Level 3 [Member] | Foreclosed Real Estate [Member] | |||
Fair Value Inputs, Estimated Selling Costs | 38.00% |
Note 8 - Fair Value Measureme_4
Note 8 - Fair Value Measurements - Assets Measured at Fair Value on Recurring and Nonrecurring Basis (Details) - USD ($) | Mar. 31, 2020 | Dec. 31, 2019 |
Securities available for sale | $ 253,182,000 | $ 254,562,000 |
Equity securities | 1,400,000 | 1,700,000 |
Real Estate Acquired through Foreclosure, Fair Value Disclosure | 0 | |
Other Consumer Loan [Member] | ||
Impaired loans | 42,000 | |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Securities available for sale | 70,069,000 | 69,498,000 |
Agency Collateralized Mortgage Obligations [Member] | ||
Securities available for sale | 41,609,000 | 43,084,000 |
US Government Agencies Debt Securities [Member] | ||
Securities available for sale | 60,569,000 | 64,556,000 |
Municipal Notes [Member] | ||
Securities available for sale | 80,935,000 | 77,424,000 |
Fair Value, Recurring [Member] | ||
Securities available for sale | 253,182,000 | 254,562,000 |
Equity securities | 1,352,000 | 1,746,000 |
Fair Value, Recurring [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Securities available for sale | 70,069,000 | 69,498,000 |
Fair Value, Recurring [Member] | Agency Collateralized Mortgage Obligations [Member] | ||
Securities available for sale | 41,609,000 | 43,084,000 |
Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | ||
Securities available for sale | 60,569,000 | 64,556,000 |
Fair Value, Recurring [Member] | Municipal Notes [Member] | ||
Securities available for sale | 80,935,000 | 77,424,000 |
Fair Value, Nonrecurring [Member] | ||
Impaired loans | 2,732,000 | 2,731,000 |
Loans held for sale | 3,085,000 | 4,176,000 |
Real Estate Acquired through Foreclosure, Fair Value Disclosure | 170,000 | |
Fair Value, Nonrecurring [Member] | Residential Mortgage Segment [Member] | ||
Impaired loans | 1,825,000 | 1,910,000 |
Real Estate Acquired through Foreclosure, Fair Value Disclosure | 170,000 | |
Fair Value, Nonrecurring [Member] | Land Segment [Member] | ||
Impaired loans | 115,000 | 115,000 |
Fair Value, Nonrecurring [Member] | Commercial Real Estate Segment [Member] | ||
Impaired loans | 447,000 | 353,000 |
Fair Value, Nonrecurring [Member] | Commercial Business Segment [Member] | ||
Impaired loans | 247,000 | 249,000 |
Fair Value, Nonrecurring [Member] | Home Equity and Second Mortgage [Member] | ||
Impaired loans | 56,000 | 56,000 |
Fair Value, Nonrecurring [Member] | Other Consumer Loan [Member] | ||
Impaired loans | 48,000 | |
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 | 1,352,000 | 1,746,000 |
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 | ||
Real Estate Acquired through Foreclosure, Fair Value Disclosure | ||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Nonrecurring [Member] | Residential Mortgage Segment [Member] | ||
Impaired loans | ||
Real Estate Acquired through Foreclosure, Fair Value Disclosure | ||
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 | ||
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 1 [Member] | Fair Value, Nonrecurring [Member] | Other Consumer Loan [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 | 253,182,000 | 254,562,000 |
Equity securities | ||
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Securities available for sale | 70,069,000 | 69,498,000 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | Agency Collateralized Mortgage Obligations [Member] | ||
Securities available for sale | 41,609,000 | 43,084,000 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | ||
Securities available for sale | 60,569,000 | 64,556,000 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | Municipal Notes [Member] | ||
Securities available for sale | 80,935,000 | 77,424,000 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Nonrecurring [Member] | ||
Impaired loans | ||
Loans held for sale | 3,085,000 | 4,176,000 |
Real Estate Acquired through Foreclosure, Fair Value Disclosure | ||
Fair Value, Inputs, Level 2 [Member] | Fair Value, Nonrecurring [Member] | Residential Mortgage Segment [Member] | ||
Impaired loans | ||
Real Estate Acquired through Foreclosure, Fair Value Disclosure | ||
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 | ||
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 2 [Member] | Fair Value, Nonrecurring [Member] | Other Consumer Loan [Member] | ||
Impaired loans | ||
Fair Value, Inputs, Level 3 [Member] | Other Consumer Loan [Member] | ||
Impaired loans | 42,000 | |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member] | ||
Securities available for sale | ||
Equity securities | ||
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 | 2,732,000 | 2,731,000 |
Loans held for sale | ||
Real Estate Acquired through Foreclosure, Fair Value Disclosure | 170,000 | |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member] | Residential Mortgage Segment [Member] | ||
Impaired loans | 1,825,000 | 1,910,000 |
Real Estate Acquired through Foreclosure, Fair Value Disclosure | 170,000 | |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member] | Land Segment [Member] | ||
Impaired loans | 115,000 | 115,000 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member] | Commercial Real Estate Segment [Member] | ||
Impaired loans | 447,000 | 353,000 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member] | Commercial Business Segment [Member] | ||
Impaired loans | 247,000 | 249,000 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member] | Home Equity and Second Mortgage [Member] | ||
Impaired loans | $ 56,000 | 56,000 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member] | Other Consumer Loan [Member] | ||
Impaired loans | $ 48,000 |
Note 8 - Fair Value Measureme_5
Note 8 - Fair Value Measurements - Carrying Value and Estimated Fair Value of Financial Instruments (Details) - USD ($) | Mar. 31, 2020 | Dec. 31, 2019 |
Securities available for sale | $ 253,182,000 | $ 254,562,000 |
Equity Securities, FV-NI | 1,400,000 | 1,700,000 |
Reported Value Measurement [Member] | ||
Cash and cash equivalents | 59,722,000 | 51,360,000 |
Interest-bearing time deposits | 6,490,000 | 6,490,000 |
Securities available for sale | 253,182,000 | 254,562,000 |
Loans held for sale | 3,085,000 | 4,176,000 |
Loans, net | 465,292,000 | 466,694,000 |
FHLB and other restricted stock | 1,988,000 | 1,988,000 |
Accrued interest receivable | 2,863,000 | 3,076,000 |
Equity Securities, FV-NI | 1,352,000 | 1,746,000 |
Deposits | 722,618,000 | 722,177,000 |
Accrued interest payable | 219,000 | 210,000 |
Estimate of Fair Value Measurement [Member] | ||
Cash and cash equivalents | 59,722,000 | 51,360,000 |
Interest-bearing time deposits | 6,835,000 | 6,654,000 |
Securities available for sale | 253,182,000 | 254,562,000 |
Loans held for sale | 3,142,000 | 4,243,000 |
Loans, net | 476,293,000 | 482,119,000 |
Accrued interest receivable | 2,863,000 | 3,076,000 |
Equity Securities, FV-NI | 1,352,000 | 1,746,000 |
Deposits | 723,217,000 | 721,729,000 |
Accrued interest payable | 219,000 | 210,000 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash and cash equivalents | 59,722,000 | 51,360,000 |
Interest-bearing time deposits | ||
Securities available for sale | ||
Loans held for sale | ||
Loans, net | ||
Accrued interest receivable | ||
Equity Securities, FV-NI | 1,352,000 | 1,746,000 |
Deposits | ||
Accrued interest payable | ||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Cash and cash equivalents | ||
Interest-bearing time deposits | 6,835,000 | 6,654,000 |
Securities available for sale | 253,182,000 | 254,562,000 |
Loans held for sale | 3,142,000 | 4,243,000 |
Loans, net | ||
Accrued interest receivable | 2,863,000 | 3,076,000 |
Equity Securities, FV-NI | ||
Deposits | ||
Accrued interest payable | 219,000 | 210,000 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Cash and cash equivalents | ||
Interest-bearing time deposits | ||
Securities available for sale | ||
Loans held for sale | ||
Loans, net | 476,293,000 | 482,119,000 |
Accrued interest receivable | ||
Equity Securities, FV-NI | ||
Deposits | 723,217,000 | 721,729,000 |
Accrued interest payable |
Note 9 - Revenue From Contrac_3
Note 9 - Revenue From Contracts With Customers - Noninterest Income (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Noninterest income, financial service | $ 1,417 | $ 1,240 |
Net gain (loss) on loans and investments | (35) | 192 |
Increase in cash value of life insurance | 47 | 48 |
Other | 27 | 25 |
Other noninterest income | 39 | 265 |
Total noninterest income | 1,456 | 1,505 |
Deposit Account [Member] | ||
Noninterest income, financial service | 506 | 461 |
ATM and Debit Card Fees [Member] | ||
Noninterest income, financial service | 765 | 647 |
Investment Advisory, Management and Administrative Service [Member] | ||
Noninterest income, financial service | 113 | 98 |
Product and Service, Other [Member] | ||
Noninterest income, financial service | $ 33 | $ 34 |