Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Mar. 31, 2020 | May 06, 2020 | |
Document and Entity Information [Abstract] | ||
Entity Registrant Name | LCNB CORP. | |
Entity Central Index Key | 0001074902 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Document Type | 10-Q | |
Document Period End Date | Mar. 31, 2020 | |
Document Fiscal Year Focus | 2020 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | false | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 12,969,806 | |
Entity Current Reporting Status | Yes |
CONSOLIDATED CONDENSED BALANCE
CONSOLIDATED CONDENSED BALANCE SHEETS - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
ASSETS: | ||
Cash and due from banks | $ 17,820 | $ 17,019 |
Interest-bearing demand deposits | 6,975 | 3,746 |
Total cash and cash equivalents | 24,795 | 20,765 |
Investment securities: | ||
Equity securities with a readily determinable fair value, at fair value | 2,036 | 2,312 |
Equity securities without a readily determinable fair value, at cost | 2,099 | 2,099 |
Debt securities, available-for-sale, at fair value | 141,439 | 178,000 |
Debt securities, held-to-maturity, at cost | 27,694 | 27,525 |
Federal Reserve Bank stock, at cost | 4,652 | 4,652 |
Federal Home Loan Bank stock, at cost | 5,203 | 5,203 |
Loans, net | 1,267,379 | 1,239,406 |
Premises and equipment, net | 35,017 | 34,787 |
Operating Lease, Right-of-Use Asset | 5,621 | 5,444 |
Goodwill | 59,221 | 59,221 |
Core deposit and other intangibles, net | 3,751 | 4,006 |
Bank owned life insurance | 41,309 | 41,667 |
Other assets | 16,064 | 14,221 |
TOTAL ASSETS | 1,636,280 | 1,639,308 |
Deposits: | ||
Noninterest-bearing | 342,442 | 354,391 |
Interest-bearing | 1,003,430 | 993,889 |
Total deposits | 1,345,872 | 1,348,280 |
Long-term debt | 35,996 | 40,994 |
Operating Lease, Liability | 5,659 | 5,446 |
Accrued interest and other liabilities | 15,275 | 16,540 |
TOTAL LIABILITIES | 1,402,802 | 1,411,260 |
COMMITMENTS AND CONTINGENT LIABILITIES | 0 | 0 |
SHAREHOLDERS' EQUITY: | ||
Preferred shares – no par value, authorized 1,000,000 shares, none outstanding | 0 | 0 |
Common shares – no par value; authorized 19,000,000 shares; issued 14,144,103 and 14,111,810 shares at March 31, 2020 and December 31, 2019, respectively | 142,046 | 141,791 |
Retained earnings | 107,123 | 104,431 |
Treasury shares at cost, 1,175,027 shares at March 31, 2020 and December 31, 2019 | (18,847) | (18,847) |
Accumulated other comprehensive income, net of taxes | 3,156 | 673 |
TOTAL SHAREHOLDERS' EQUITY | 233,478 | 228,048 |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ 1,636,280 | $ 1,639,308 |
CONSOLIDATED CONDENSED BALANC_2
CONSOLIDATED CONDENSED BALANCE SHEETS (Parenthetical) - $ / shares | Mar. 31, 2020 | Dec. 31, 2019 |
SHAREHOLDERS' EQUITY: | ||
Preferred shares, no par value (in dollars per share) | ||
Preferred shares, shares authorized (in shares) | 1,000,000 | 1,000,000 |
Preferred shares, shares outstanding (in shares) | 0 | 0 |
Common shares, no par value (in dollars per share) | ||
Common shares, shares authorized (in shares) | 19,000,000 | 19,000,000 |
Common shares, shares issued (in shares) | 14,144,103 | 14,111,810 |
Treasury shares (in shares) | 1,175,027 | 1,175,027 |
CONSOLIDATED CONDENSED STATEMEN
CONSOLIDATED CONDENSED STATEMENTS OF INCOME - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
INTEREST INCOME: | ||
Interest and fees on loans | $ 15,227 | $ 14,538 |
With a readily determinable fair value | 14 | 17 |
Without a readily determinable fair value | 16 | 16 |
Taxable | 950 | 869 |
Non-taxable | 285 | 544 |
Interest Income, Other Domestic Deposits | 0 | 5 |
Other investments | 64 | 124 |
TOTAL INTEREST INCOME | 16,556 | 16,113 |
INTEREST EXPENSE: | ||
Interest on deposits | 2,117 | 2,286 |
Interest on short-term borrowings | 7 | 219 |
Interest on long-term debt | 254 | 217 |
TOTAL INTEREST EXPENSE | 2,378 | 2,722 |
NET INTEREST INCOME | 14,178 | 13,391 |
PROVISION (CREDIT) FOR LOAN LOSSES | 1,173 | (105) |
NET INTEREST INCOME AFTER PROVISION (CREDIT) FOR LOAN LOSSES | 13,005 | 13,496 |
NON-INTEREST INCOME: | ||
Fiduciary income | 1,103 | 1,034 |
Service charges and fees on deposit accounts | 1,295 | 1,308 |
Realized (gain) loss from sales of debt securities, available-for-sale | (221) | 18 |
Bank owned life insurance income | 601 | 182 |
Gains from sales of loans | 120 | 29 |
Other operating income | 499 | 237 |
TOTAL NON-INTEREST INCOME | 3,839 | 2,772 |
NON-INTEREST EXPENSE: | ||
Salaries and employee benefits | 6,768 | 6,162 |
Equipment expenses | 287 | 266 |
Occupancy expense, net | 682 | 763 |
State financial institutions tax | 436 | 438 |
Marketing | 177 | 302 |
Amortization of intangibles | 260 | 257 |
FDIC insurance premiums (credit), net | (1) | 126 |
Contracted services | 402 | 464 |
Merger-related expenses | 0 | 67 |
Other non-interest expense | 2,061 | 1,855 |
TOTAL NON-INTEREST EXPENSE | 11,072 | 10,700 |
INCOME BEFORE INCOME TAXES | 5,772 | 5,568 |
PROVISION FOR INCOME TAXES | 746 | 941 |
NET INCOME | $ 5,026 | $ 4,627 |
Dividends declared per common share (usd per share) | $ 0.18 | $ 0.17 |
Earnings per common share: | ||
Basic (usd per share) | 0.39 | 0.35 |
Diluted (usd per share) | $ 0.39 | $ 0.35 |
Weighted average common shares outstanding: | ||
Basic (in shares) | 12,926,077 | 13,283,634 |
Diluted (in shares) | 12,927,666 | 13,287,338 |
CONSOLIDATED CONDENSED STATEM_2
CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Statement of Comprehensive Income [Abstract] | ||
Net income | $ 5,026 | $ 4,627 |
Other comprehensive income: | ||
Net unrealized gains on available-for-sale debt securities (net of taxes of $706 and $659 for the three months ended March 31, 2020 and 2019, respectively) | 2,658 | 2,475 |
Reclassification adjustment for net realized (gains) losses on sales of available-for-sale debt securities included in net income (net of taxes of $46 and $4 for the three months ended March 31, 2020 and 2019, respectively) | 175 | (14) |
Other comprehensive income, net of tax | 2,483 | 2,489 |
TOTAL COMPREHENSIVE INCOME | $ 7,509 | $ 7,116 |
CONSOLIDATED CONDENSED STATEM_3
CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Other comprehensive income: | ||
Net unrealized gain (loss) on available-for-sale securities, tax expense (benefit) | $ 706 | $ 659 |
Net realized (gain) loss on sale of available-for-sale securities included in net income, tax (expense) benefit | 46 | (4) |
Change in nonqualified pension plan unrecognized net loss and unrecognized prior service cost, tax benefit | $ 0 | $ 0 |
CONSOLIDATED CONDENSED STATEM_4
CONSOLIDATED CONDENSED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) $ in Thousands | Total | Common Stock [Member] | Retained Earnings [Member] | Treasury Shares [Member] | Accumulated Other Comprehensive Income [Member] | Calculated under Revenue Guidance in Effect before Topic 606 [Member]Common Stock [Member] | Calculated under Revenue Guidance in Effect before Topic 606 [Member]Retained Earnings [Member] | Calculated under Revenue Guidance in Effect before Topic 606 [Member]Treasury Shares [Member] | Calculated under Revenue Guidance in Effect before Topic 606 [Member]Accumulated Other Comprehensive Income [Member] |
Balance Beginning (in shares) at Dec. 31, 2018 | 13,295,276 | ||||||||
Balance beginning at Dec. 31, 2018 | $ 218,985 | $ 141,170 | $ 94,547 | $ (12,013) | $ (4,719) | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||
Net income | 4,627 | $ 4,627 | |||||||
Other comprehensive income, net of taxes | 2,489 | $ 2,489 | |||||||
Dividend Reinvestment and Stock Purchase Plan (in shares) | 6,368 | ||||||||
Dividend Reinvestment and Stock Purchase Plan | 109 | $ 109 | |||||||
Compensation expense relating to restricted stock (in shares) | 12,504 | ||||||||
APIC, Share-based Payment Arrangement, Restricted Stock Unit, Increase for Cost Recognition | 70 | $ 70 | |||||||
Common stock dividends, $0.17 per share | (2,262) | (2,262) | |||||||
Balance Ending (in shares) at Mar. 31, 2019 | 13,314,148 | ||||||||
Balance ending at Mar. 31, 2019 | 224,018 | $ 141,349 | 96,912 | $ (12,013) | (2,230) | (2,230) | |||
Balance Beginning (in shares) at Dec. 31, 2019 | 12,936,783 | ||||||||
Balance beginning at Dec. 31, 2019 | 228,048 | $ 141,791 | 104,431 | (18,847) | 673 | $ 673 | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||
Net income | 5,026 | 5,026 | |||||||
Other comprehensive income, net of taxes | 2,483 | 2,483 | |||||||
Dividend Reinvestment and Stock Purchase Plan (in shares) | 7,039 | ||||||||
Dividend Reinvestment and Stock Purchase Plan | 107 | $ 107 | |||||||
Exercise of stock options (in shares) | 9,593 | ||||||||
Exercise of stock options | 115 | $ 115 | |||||||
Compensation expense relating to restricted stock (in shares) | 15,661 | ||||||||
APIC, Share-based Payment Arrangement, Restricted Stock Unit, Increase for Cost Recognition | 33 | $ 33 | |||||||
Common stock dividends, $0.17 per share | (2,334) | (2,334) | |||||||
Balance Ending (in shares) at Mar. 31, 2020 | 12,969,076 | ||||||||
Balance ending at Mar. 31, 2020 | $ 233,478 | $ 142,046 | $ 107,123 | $ (18,847) | $ 3,156 |
CONSOLIDATED CONDENSED STATEM_5
CONSOLIDATED CONDENSED STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Common stock dividends (in dollars per share) | $ 0.18 | $ 0.17 |
CONSOLIDATED CONDENSED STATEM_6
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net income | $ 5,026 | $ 4,627 |
Adjustments to reconcile net income to net cash flows from operating activities: | ||
Depreciation, amortization, and accretion | 248 | 747 |
Provision (credit) for loan losses | 1,173 | (105) |
Deferred income tax provision | 28 | 51 |
Increase in cash surrender value of bank owned life insurance | (284) | (182) |
Bank Owned Life Insurance Death Benefits In Excess Of Cash Surrender Value | 316 | 0 |
Realized (gain) loss from equity securities | (333) | (93) |
Realized (gain) loss from sales of debt securities, available-for-sale | (221) | 18 |
Realized (gain) loss from sales of premises and equipment | (1) | 0 |
Realized (gain) loss from sales and impairment of other real estate owned and repossessed assets | (11) | 0 |
Origination of mortgage loans for sale | (4,890) | (1,263) |
Realized gains from sales of loans | (120) | (29) |
Proceeds from sales of mortgage loans | 4,964 | 1,280 |
Compensation expense related to restricted stock | 33 | 70 |
Changes in: | ||
Accrued income receivable | (546) | (1,072) |
Other assets | (1,492) | (129) |
Other liabilities | (1,953) | (1,597) |
TOTAL ADJUSTMENTS | (3,721) | (2,304) |
NET CASH FLOWS PROVIDED BY OPERATING ACTIVITIES | 1,305 | 2,323 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Proceeds from sales of equity securities | 646 | 331 |
Proceeds from sales of debt securities, available-for-sale | 8,786 | 21,806 |
Available-for-sale | 31,022 | 1,790 |
Held-to-maturity | 111 | 506 |
Purchases of equity securities | (37) | (345) |
Held-to-maturity | (280) | (3,148) |
Proceeds from maturities of interest-bearing time deposits | 0 | 249 |
Proceeds from redemption of Federal Reserve Bank stock | 0 | 1 |
Net increase in loans | (28,523) | (8,191) |
Proceeds from Life Insurance Policy | 958 | 0 |
Proceeds from Sale of Foreclosed Assets | 208 | 0 |
Purchases of premises and equipment | (647) | (335) |
Proceeds from sale of premises and equipment | 1 | 0 |
NET CASH FLOWS PROVIDED BY INVESTING ACTIVITIES | 12,245 | 12,664 |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Net increase (decrease) in deposits | (2,408) | 46,938 |
Net decrease in short-term borrowings | 0 | (56,230) |
Principal payments on long-term debt | (5,001) | (4,055) |
Proceeds from issuance of common stock | 21 | 14 |
Proceeds from exercise of stock options | 115 | 0 |
Cash dividends paid on common stock | (2,247) | (2,167) |
NET CASH FLOWS USED IN FINANCING ACTIVITIES | (9,520) | (15,500) |
NET CHANGE IN CASH AND CASH EQUIVALENTS | 4,030 | (513) |
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD | 20,765 | 20,040 |
CASH AND CASH EQUIVALENTS AT END OF PERIOD | 24,795 | 19,527 |
SUPPLEMENTAL CASH FLOW INFORMATION: | ||
Interest paid | $ 2,418 | $ 2,607 |
Basis of Presentation
Basis of Presentation | 3 Months Ended |
Mar. 31, 2020 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation | Basis of Presentation Basis of Presentation The accompanying unaudited interim consolidated condensed financial statements include LCNB Corp. ("LCNB") and its wholly-owned subsidiaries: LCNB National Bank (the "Bank") and LCNB Risk Management, Inc., its captive insurance company. All material intercompany transactions and balances are eliminated in consolidation. The unaudited interim consolidated condensed financial statements have been prepared in accordance with U.S. generally accepted accounting principles for interim financial information and the rules and regulations of the Securities and Exchange Commission (the "SEC"). Certain information and note disclosures normally included in annual financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to those rules and regulations. In the opinion of management, the unaudited interim consolidated financial statements include all adjustments (consisting of normal, recurring accruals) considered necessary for a fair presentation of financial position, results of operations, and cash flows for the interim periods, as required by Regulation S-X, Rule 10-01. The consolidated condensed balance sheet as of December 31, 2019 has been derived from the audited consolidated balance sheet as of that date. Certain prior period data presented in the consolidated financial statements have been reclassified to conform with the current year presentation. The preparation of consolidated financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Results of operations for the three months ended March 31, 2020 are not necessarily indicative of the results to be expected for the full year ending December 31, 2020 . These unaudited consolidated financial statements should be read in conjunction with the consolidated financial statements, accounting policies, and financial notes thereto included in LCNB's 2019 Annual Report on Form 10-K filed with the SEC. Accounting Changes Financial Accounting Standards Board ("FASB) Accounting Standards Update ("ASU") No. 2017-04, "Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment" ASU No. 2017-04 was issued in January 2017 and was adopted by LCNB as of January 1, 2020. It applies to public and other entities that have goodwill reported in their financial statements. To simplify the subsequent measurement of goodwill, this ASU eliminates Step 2 from the goodwill impairment test. In computing the implied fair value of goodwill under Step 2, an entity had to perform procedures to determine the fair value at the impairment testing date of its assets and liabilities, including unrecognized assets and liabilities, following the procedure that would be required in determining the fair value of assets acquired and liabilities assumed in a business combination. Instead, under the amendments in this update, an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. Adoption of ASU No. 2017-04 did not have a material impact on LCNB's results of operations or financial position. ASU No. 2018-13, "Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement" ASU No. 2018-13 was issued in August 2018 and was adopted by LCNB as of January 1, 2020. It applies to all entities that are required to make disclosures about recurring or nonrecurring fair value measurements. The amendments in this update modify fair value disclosure requirements, including the deletion, modification, and addition of certain targeted disclosures. Adoption of ASU No. 2018-13 did not have a material impact on LCNB's results of operations or financial position. |
Investment Securities
Investment Securities | 3 Months Ended |
Mar. 31, 2020 | |
Investments, Debt and Equity Securities [Abstract] | |
Investment Securities | Investment Securities The amortized cost and estimated fair value of equity and debt securities at March 31, 2020 and December 31, 2019 are summarized as follows (in thousands): Amortized Unrealized Unrealized Fair March 31, 2020 Debt Securities, Available-for-Sale: U.S. Treasury notes $ 2,272 137 — 2,409 U.S. Agency notes 21,882 821 — 22,703 U.S. Agency mortgage-backed securities 80,072 2,613 — 82,685 Municipal securities: Non-taxable 13,254 118 4 13,368 Taxable 19,732 550 8 20,274 $ 137,212 4,239 12 141,439 Debt Securities, Held-to-Maturity: Municipal securities: Non-taxable $ 24,189 480 21 24,648 Taxable 3,505 2 136 3,371 $ 27,694 482 157 28,019 December 31, 2019 Debt Securities, Available-for-Sale: U.S. Treasury notes $ 2,273 36 — 2,309 U.S. Agency notes 48,745 273 34 48,984 U.S. Agency mortgage-backed securities 83,977 672 243 84,406 Municipal securities: Non-taxable 22,174 161 14 22,321 Taxable 19,746 269 35 19,980 $ 176,915 1,411 326 178,000 Debt Securities, Held-to-Maturity: Municipal securities: Non-taxable $ 24,300 343 5 24,638 Taxable 3,225 25 — 3,250 $ 27,525 368 5 27,888 Information concerning debt securities with gross unrealized losses at March 31, 2020 and December 31, 2019 , aggregated by length of time that individual securities have been in a continuous loss position, is as follows (dollars in thousands): Less than Twelve Months Twelve Months or Greater Fair Value Unrealized Losses Fair Value Unrealized Losses March 31, 2020 Available-for-Sale: U.S. Agency mortgage-backed securities $ — — 60 — Municipal securities: Non-taxable 646 4 — — Taxable 868 8 — — $ 1,514 12 60 — Held-to-Maturity: Municipal securities: Non-taxable $ 2,142 16 1,790 5 Taxable 3,089 136 — — $ 5,231 152 1,790 5 December 31, 2019 Available-for-Sale: U.S. Agency notes $ 3,586 11 11,939 23 U.S. Agency mortgage-backed securities 10,555 10 19,233 233 Municipal securities: Non-taxable 2,631 2 1,257 12 Taxable 5,067 35 450 — $ 21,839 58 32,879 268 Held-to-Maturity: Municipal securities: Non-taxable $ 54 — 2,660 5 $ 54 — 2,660 5 Management has determined that the unrealized losses at March 31, 2020 are primarily due to fluctuations in market interest rates and do not reflect credit quality deterioration of the securities. Because LCNB does not have the intent to sell the investments and it is more likely than not that LCNB will not be required to sell the investments before recovery of their amortized cost bases, which may be at maturity, LCNB does not consider these investments to be other-than-temporarily impaired. Contractual maturities of debt securities at March 31, 2020 were as follows (in thousands). Actual maturities may differ from contractual maturities when issuers have the right to call or prepay obligations. Available-for-Sale Held-to-Maturity Amortized Cost Fair Value Amortized Cost Fair Value Due within one year $ 11,145 11,198 2,472 2,473 Due from one to five years 26,964 27,677 7,349 7,365 Due from five to ten years 19,031 19,879 2,260 2,282 Due after ten years — — 15,613 15,899 57,140 58,754 27,694 28,019 U.S. Agency mortgage-backed securities 80,072 82,685 — — $ 137,212 141,439 27,694 28,019 Debt securities with a market value of $124,314,000 and $123,009,000 at March 31, 2020 and December 31, 2019 , respectively, were pledged to secure public deposits and for other purposes required or as permitted by law. Certain information concerning the sale of debt securities, available-for-sale, for the three months ended March 31, 2020 and 2019 was as follows (in thousands): Three Months Ended 2020 2019 Proceeds from sales 8,786 21,806 Gross realized gains 221 58 Gross realized losses — 76 Realized gains or losses from the sale of securities are computed using the specific identification method. Equity securities with a readily determinable fair value are carried at fair value, with changes in fair value recognized in other operating income in the consolidated condensed statements of income. Equity securities without a readily determinable fair value are measured at cost minus impairment, if any, plus or minus any changes resulting from observable price changes in orderly transactions, as defined, for identical or similar investments of the same issuer. LCNB was not aware of any impairment or observable price change adjustments that needed to be made at March 31, 2020 on its investments in equity securities without a readily determinable fair value. The amortized cost and estimated fair value of equity securities with a readily determinable fair value at March 31, 2020 and December 31, 2019 are summarized as follows (in thousands): March 31, 2020 December 31, 2019 Amortized Fair Amortized Fair Mutual funds $ 1,378 1,361 1,371 1,345 Equity securities 685 675 741 967 Total equity securities with a readily determinable fair value $ 2,063 2,036 2,112 2,312 Certain information concerning changes in fair value of equity securities with a readily determinable fair value for the three months ended March 31, 2020 and 2019 is as follows (in thousands): Three Months Ended 2020 2019 Net gains recognized $ 333 93 Net realized gains (losses) on equity securities sold 559 (6 ) Unrealized gains (losses) recognized and still held at period end $ (226 ) 99 |
Loans
Loans | 3 Months Ended |
Mar. 31, 2020 | |
Receivables [Abstract] | |
Loans | Loans Major classifications of loans at March 31, 2020 and December 31, 2019 were as follows (in thousands): March 31, 2020 December 31, 2019 Commercial and industrial $ 85,356 78,306 Commercial, secured by real estate 829,461 804,953 Residential real estate 318,009 322,533 Consumer 28,955 25,232 Agricultural 10,519 11,509 Other loans, including deposit overdrafts 436 1,193 Loans, gross 1,272,736 1,243,726 Deferred origination fees, net (349 ) (275 ) Loans, net of deferred origination fees 1,272,387 1,243,451 Less allowance for loan losses 5,008 4,045 Loans, net $ 1,267,379 1,239,406 Non-accrual, past-due, and accruing restructured loans as of March 31, 2020 and December 31, 2019 were as follows (in thousands): March 31, 2020 December 31, 2019 Non-accrual loans: Commercial, secured by real estate $ 2,172 2,467 Residential real estate 657 743 Total non-accrual loans 2,829 3,210 Past-due 90 days or more and still accruing 39 — Total non-accrual and past-due 90 days or more and still accruing 2,868 3,210 Accruing restructured loans 4,126 6,609 Total $ 6,994 9,819 . The allowance for loan losses for the three months ended March 31, 2020 and 2019 were as follows (in thousands): Commercial & Industrial Commercial, Secured by Real Estate Residential Real Estate Consumer Agricultural Other Total Three Months Ended March 31, 2020 Balance, beginning of year $ 456 2,924 528 99 34 4 4,045 Provision charged to expenses 159 920 31 41 5 17 1,173 Losses charged off — (270 ) (3 ) (12 ) — (36 ) (321 ) Recoveries 18 — 73 1 — 19 111 Balance, end of period $ 633 3,574 629 129 39 4 5,008 Three Months Ended March 31, 2019 Balance, beginning of year $ 400 2,745 767 87 46 1 4,046 Provision (credit) charged to expenses 51 57 (195 ) (31 ) (5 ) 18 (105 ) Losses charged off — — (33 ) — — (31 ) (64 ) Recoveries — 56 154 21 — 18 249 Balance, end of period $ 451 2,858 693 77 41 6 4,126 A breakdown of the allowance for loan losses and the loan portfolio by loan segment at March 31, 2020 and December 31, 2019 were as follows (in thousands): Commercial Commercial, Secured by Residential Consumer Agricultural Other Total March 31, 2020 Allowance for loan losses: Individually evaluated for impairment $ 22 — 12 — — — 34 Collectively evaluated for impairment 611 3,574 617 129 39 4 4,974 Acquired credit impaired loans — — — — — — — Balance, end of period $ 633 3,574 629 129 39 4 5,008 Loans: Individually evaluated for impairment $ 956 5,355 924 13 — — 7,248 Collectively evaluated for impairment 83,916 820,535 314,802 29,070 10,535 166 1,259,024 Acquired credit impaired loans 562 2,690 2,593 — — 270 6,115 Balance, end of period $ 85,434 828,580 318,319 29,083 10,535 436 1,272,387 December 31, 2019 Allowance for loan losses: Individually evaluated for impairment $ 6 272 17 — — — 295 Collectively evaluated for impairment 450 2,652 511 99 34 4 3,750 Acquired credit impaired loans — — — — — — — Balance, end of period $ 456 2,924 528 99 34 4 4,045 Loans: Individually evaluated for impairment $ 230 7,432 949 27 — — 8,638 Collectively evaluated for impairment 77,430 793,191 319,188 25,328 11,523 930 1,227,590 Acquired credit impaired loans 711 3,531 2,718 — — 263 7,223 Balance, end of period $ 78,371 804,154 322,855 25,355 11,523 1,193 1,243,451 The risk characteristics of LCNB's material loan portfolio segments were as follows: Commercial and Industrial Loans. LCNB’s commercial and industrial loan portfolio consists of loans for various purposes, including loans to fund working capital requirements (such as inventory and receivables financing) and purchases of machinery and equipment. LCNB offers a variety of commercial and industrial loan arrangements, including term loans, balloon loans, and lines of credit. Most commercial and industrial loans have a fixed rate, with maturities ranging from one to ten years . Commercial and industrial loans are offered to businesses and professionals for short and medium terms on both a collateralized and uncollateralized basis. Commercial and industrial loans typically are underwritten on the basis of the borrower’s ability to make repayment from the cash flow of the business. Collateral, when obtained, may include liens on furniture, fixtures, equipment, inventory, receivables, or other assets. As a result, such loans involve complexities, variables, and risks that require thorough underwriting and more robust servicing than other types of loans. Commercial, Secured by Real Estate Loans. Commercial real estate loans include loans secured by a variety of commercial, retail, and office buildings, religious facilities, hotels, multifamily (more than four-family) residential properties, construction and land development loans, and other land loans. Commercial real estate loan products generally amortize over five to twenty-five years and are payable in monthly principal and interest installments. Some have balloon payments due within one to ten years after the origination date. The majority have adjustable interest rates with adjustment periods ranging from one to ten years, some of which are subject to established “floor” interest rates. Commercial real estate loans are underwritten based on the ability of the property, in the case of income producing property, or the borrower’s business to generate sufficient cash flow to amortize the debt. Secondary emphasis is placed upon global debt service, collateral value, financial strength of any and all guarantors, and other factors. Commercial real estate loans are generally originated with a 75% to 85% maximum loan to appraised value ratio, depending upon borrower occupancy. Residential Real Estate Loans. Residential real estate loans include loans secured by first or second mortgage liens on one to four-family residential properties. Home equity lines of credit and mortgage loans secured by owner-occupied agricultural property are included in this category. First and second mortgage loans are generally amortized over five to thirty years with monthly principal and interest payments. Home equity lines of credit generally have a five year or less draw period with interest only payments followed by a repayment period with monthly payments based on the amount outstanding. LCNB offers both fixed and adjustable rate mortgage loans. Adjustable rate loans are available with adjustment periods ranging between one to ten years and adjust according to an established index plus a margin, subject to certain floor and ceiling rates. Home equity lines of credit have a variable rate based on the Wall Street Journal prime rate plus a margin. LCNB does not originate reverse mortgage loans or residential real estate loans generally considered to be “subprime.” Residential real estate loans are underwritten primarily based on the borrower’s ability to repay, prior credit history, and the value of the collateral. LCNB generally requires private mortgage insurance for first mortgage loans that have a loan to appraised value ratio of greater than 80% . Consumer Loans. LCNB’s portfolio of consumer loans generally includes secured and unsecured loans to individuals for household, family and other personal expenditures. Secured loans include loans to fund the purchase of automobiles, recreational vehicles, boats, and similar acquisitions. Consumer loans made by LCNB generally have fixed rates and terms ranging up to 72 months, depending upon the nature of the collateral, size of the loan, and other relevant factors. Consumer loans generally have higher interest rates, but pose additional risks of collectibility and loss when compared to certain other types of loans. Collateral, if present, is generally subject to damage, wear, and depreciation. The borrower’s ability to repay is of primary importance in the underwriting of consumer loans. Agricultural Loans. LCNB’s portfolio of agricultural loans includes loans for financing agricultural production and for financing the purchase of equipment used in the production of agricultural products. LCNB’s agricultural loans are generally secured by farm machinery, livestock, crops, vehicles, or other agricultural-related collateral. LCNB uses a risk-rating system to quantify loan quality. A loan is assigned to a risk category based on relevant information about the ability of the borrower to service the debt including, but not limited to, current financial information, historical payment experience, credit documentation, public information, and current economic trends. The categories used are: • Pass – loans categorized in this category are higher quality loans that do not fit any of the other categories described below. • Other Assets Especially Mentioned ("OAEM") – loans in this category are currently protected but are potentially weak. These loans constitute a risk but not to the point of justifying a classification of substandard. The credit risk may be relatively minor yet constitute an undue risk in light of the circumstances surrounding a specific asset. • Substandard – loans in this category are inadequately protected by the current sound net worth and paying capacity of the obligor or of the collateral pledged, if any. Assets so classified must have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the possibility that LCNB will sustain some loss if the deficiencies are not corrected. • Doubtful – loans classified in this category have all the weaknesses inherent in loans classified as substandard with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. A breakdown of the loan portfolio by credit quality indicators at March 31, 2020 and December 31, 2019 is as follows (in thousands): Pass OAEM Substandard Doubtful Total March 31, 2020 Commercial & industrial $ 83,816 — 1,618 — 85,434 Commercial, secured by real estate 815,998 2,467 10,115 — 828,580 Residential real estate 313,270 1,795 3,254 — 318,319 Consumer 29,078 — 5 — 29,083 Agricultural 10,513 — 22 — 10,535 Other 436 — — — 436 Total $ 1,253,111 4,262 15,014 — 1,272,387 December 31, 2019 Commercial & industrial $ 76,236 233 1,902 — 78,371 Commercial, secured by real estate 789,319 3,007 11,828 — 804,154 Residential real estate 319,075 267 3,513 — 322,855 Consumer 25,342 — 13 — 25,355 Agricultural 11,523 — — — 11,523 Other 1,193 — — — 1,193 Total $ 1,222,688 3,507 17,256 — 1,243,451 A loan portfolio aging analysis at March 31, 2020 and December 31, 2019 is as follows (in thousands): 30-59 Days Past Due 60-89 Days Past Due Greater Than 90 Days Past Due Total Past Due Current Total Loans Receivable Total Loans Greater Than 90 Days and Accruing March 31, 2020 Commercial & industrial $ 1,465 — — 1,465 83,969 85,434 — Commercial, secured by real estate 261 511 1,092 1,864 826,716 828,580 — Residential real estate 2,398 23 461 2,882 315,437 318,319 39 Consumer 19 1 — 20 29,063 29,083 — Agricultural 22 — — 22 10,513 10,535 — Other 67 — — 67 369 436 — Total $ 4,232 535 1,553 6,320 1,266,067 1,272,387 39 December 31, 2019 Commercial & industrial $ 283 — — 283 78,088 78,371 — Commercial, secured by real estate 339 — 1,171 1,510 802,644 804,154 — Residential real estate 1,573 260 423 2,256 320,599 322,855 — Consumer 27 9 — 36 25,319 25,355 — Agricultural — — — — 11,523 11,523 — Other 930 — — 930 263 1,193 — Total $ 3,152 269 1,594 5,015 1,238,436 1,243,451 — Impaired loans, including acquired credit impaired loans, at March 31, 2020 and December 31, 2019 were as follows (in thousands): March 31, 2020 December 31, 2019 Recorded Investment Unpaid Principal Balance Related Allowance Recorded Investment Unpaid Principal Balance Related Allowance With no related allowance recorded: Commercial & industrial $ 562 862 — 711 1,253 — Commercial, secured by real estate 7,951 8,459 — 8,625 9,373 — Residential real estate 3,185 3,655 — 3,118 3,651 — Consumer 9 9 — 10 10 — Agricultural — — — — — — Other 270 391 — 263 392 — Total $ 11,977 13,376 — 12,727 14,679 — With an allowance recorded: Commercial & industrial $ 956 956 22 230 235 6 Commercial, secured by real estate 94 95 — 2,338 2,485 272 Residential real estate 332 332 12 549 549 17 Consumer 4 4 — 17 17 — Agricultural — — — — — — Other — — — — — — Total $ 1,386 1,387 34 3,134 3,286 295 Total: Commercial & industrial $ 1,518 1,818 22 941 1,488 6 Commercial, secured by real estate 8,045 8,554 — 10,963 11,858 272 Residential real estate 3,517 3,987 12 3,667 4,200 17 Consumer 13 13 — 27 27 — Agricultural — — — — — — Other 270 391 — 263 392 — Total $ 13,363 14,763 34 15,861 17,965 295 The following presents information related to the average recorded investment and interest income recognized on impaired loans, including acquired credit impaired loans, for the three months ended March 31, 2020 and 2019 (in thousands): 2020 2019 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Three Months Ended March 31, With no related allowance recorded: Commercial & industrial $ 637 264 767 7 Commercial, secured by real estate 9,823 344 18,302 199 Residential real estate 3,289 92 3,916 47 Consumer 18 — 13 — Agricultural — — — — Other 266 7 340 9 Total $ 14,033 707 23,338 262 With an allowance recorded: Commercial & industrial $ 839 10 259 4 Commercial, secured by real estate 95 2 244 12 Residential real estate 339 5 622 8 Consumer 5 — 22 — Agricultural — — — — Other — — — — Total $ 1,278 17 1,147 24 Total: Commercial & industrial $ 1,476 274 1,026 11 Commercial, secured by real estate 9,918 346 18,546 211 Residential real estate 3,628 97 4,538 55 Consumer 23 — 35 — Agricultural — — — — Other 266 7 340 9 Total $ 15,311 724 24,485 286 Of the interest income recognized on impaired loans during the three months ended March 31, 2020 and 2019 , approximately $10,000 and $0 , respectively, were recognized on a cash basis. From time to time, the terms of certain loans are modified as troubled debt restructurings ("TDRs") where concessions are granted to borrowers experiencing financial difficulties. The modification of the terms of such loans may have included one, or a combination of, the following: a temporary or permanent reduction of the stated interest rate of the loan, an increase in the stated rate of interest lower than the current market rate for new debt with similar risk, forgiveness of principal, an extension of the maturity date, or a change in the payment terms. Loan modifications that were classified as TDRs during the three months ended March 31, 2020 and 2019 were as follows (dollars in thousands): 2020 2019 Number of Loans Pre-Modification Recorded Balance Post-Modification Recorded Balance Number of Loans Pre-Modification Recorded Balance Post-Modification Recorded Balance Three Months Ended March 31, Commercial and industrial 1 $ 4 $ 5 — $ — $ — Commercial, secured by real estate — — — 2 258 258 Residential real estate — — — 2 54 54 Total 1 $ 4 $ 5 4 $ 312 $ 312 Post-modification balances, at the dates of modification, of newly restructured troubled debt by type of modification for the three months ended March 31, 2020 and 2019 were as follows (in thousands): Term Modification Rate Modification Interest Only Principal Forgiveness Combination Total Modifications Three Months Ended March 31, 2020 Commercial & industrial $ — — — — 5 5 Total $ — — — — 5 5 Three Months Ended March 31, 2019 Commercial, secured by real estate $ — — — — 258 258 Residential real estate 54 — — — — 54 Total $ 54 — — — 258 312 There were no troubled debt restructurings that subsequently defaulted within twelve months of the restructuring date for the three months ended March 31, 2020 and 2019 and that remained in default at period end. Information concerning loans that were modified during the three months ended March 31, 2020 and 2019 and that were determined to be troubled debt restructurings follows (in thousands): 2020 2019 Impaired loans without a valuation allowance $ 5 312 Impaired loans with a valuation allowance — — The CARES Act includes a provision that permits a financial institution to elect to suspend temporarily troubled debt restructuring accounting under ASC Subtopic 310-40 in certain circumstances (“Section 4013”). To be eligible under Section 4013, a loan modification must be (1) related to COVID-19; (2) executed on a loan that was not more than 30 days past due as of December 31, 2019; and (3) executed between March 1, 2020, and the earlier of (A) 60 days after the date of termination of the National Emergency or (B) December 31, 2020. As of March 31, 2020, LCNB has not made the election under the CARES Act. In response to this section of the CARES Act, the federal banking agencies issued a revised interagency statement on April 7, 2020 that, in consultation with the Financial Accounting Standards Board, confirmed that for loans not subject to section 4013, short-term modifications made on a good faith basis in response to COVID-19 to borrowers who were current prior to any relief are not troubled debt restructurings under ASC Subtopic 310-40. This includes short-term (e.g., up to six months) modifications such as payment deferrals, fee waivers, extensions of repayment terms, or delays in payment that are insignificant. Borrowers considered current are those that are less than 30 days past due on their contractual payments at the time a modification program is implemented. Mortgage loans sold to and serviced for investors are not included in the accompanying consolidated condensed balance sheets. The unpaid principal balances of those loans at March 31, 2020 and December 31, 2019 were approximately $94,805,000 and $93,596,000 , respectively. The total recorded investment in residential consumer mortgage loans secured by residential real estate that were in the process of foreclosure at March 31, 2020 was $224,000 . |
Acquired Credit Impaired Loans
Acquired Credit Impaired Loans | 3 Months Ended |
Mar. 31, 2020 | |
Receivables [Abstract] | |
Acquired Credit Impaired Loans | Acquired Credit Impaired Loans Loans acquired through mergers are recorded at fair value with no carryover of the acquired entity's previously established allowance for loan losses. The excess of expected cash flows over the estimated fair value of acquired loans is recognized as interest income over the remaining contractual lives of the loans using the level yield method. Subsequent decreases in expected cash flows will require additions to the allowance for loan losses. Subsequent improvements in expected cash flows result in the recognition of additional interest income over the then-remaining contractual lives of the loans. Impaired loans acquired are accounted for under ASC 310-30. Factors considered in evaluating whether an acquired loan was impaired include delinquency status and history, updated borrower credit status, collateral information, and updated loan-to-value information. The difference between contractually required payments at the time of acquisition and the cash flows expected to be collected is referred to as the nonaccretable difference. The interest component of the cash flows expected to be collected is referred to as the accretable yield and is recognized as interest income over the remaining contractual life of the loan using the level yield method. Subsequent decreases in expected cash flows will require additions to the allowance for loan losses. Subsequent improvements in expected cash flows will result in a reclassification from the nonaccretable difference to the accretable yield. The following table provides at March 31, 2020 and December 31, 2019 the major classifications of acquired credit impaired loans that are accounted for in accordance with ASC 310-30 (in thousands): March 31, 2020 December 31, 2019 Acquired from First Capital Bancshares, Inc. Commercial & industrial $ 5 5 Commercial, secured by real estate — 792 Residential real estate 455 551 Other loans, including deposit overdrafts — — Loans, gross 460 1,348 Less allowance for loan losses — — Loans, net $ 460 1,348 Acquired from Eaton National Bank & Trust Co. Commercial & industrial $ 423 423 Commercial, secured by real estate 796 815 Residential real estate 675 685 Other loans, including deposit overdrafts 270 263 Loans, gross 2,164 2,186 Less allowance for loan losses — — Loans, net $ 2,164 2,186 Acquired from BNB Bancorp, Inc. Commercial & industrial $ — — Commercial, secured by real estate 1,205 1,219 Residential real estate 95 100 Other loans, including deposit overdrafts — — Loans, gross 1,300 1,319 Less allowance for loan losses — — Loans, net $ 1,300 1,319 Acquired from Columbus First Bancorp, Inc. Commercial & industrial $ 134 283 Commercial, secured by real estate 689 705 Residential real estate 1,368 1,382 Other loans, including deposit overdrafts — — Loans, gross 2,191 2,370 Less allowance for loan losses — — Loans, net $ 2,191 2,370 Total Commercial & industrial $ 562 711 Commercial, secured by real estate 2,690 3,531 Residential real estate 2,593 2,718 Other loans, including deposit overdrafts 270 263 Loans, gross 6,115 7,223 Less allowance for loan losses — — Loans, net $ 6,115 7,223 The following table provides the outstanding balance and related carrying amount for acquired credit impaired loans at the dates indicated (in thousands): March 31, 2020 December 31, 2019 Outstanding balance $ 7,537 9,139 Carrying amount 6,115 7,223 Activity during the three months ended March 31, 2020 and 2019 for the accretable discount related to acquired credit impaired loans is as follows (in thousands): Three Months Ended March 31, 2020 2019 Accretable discount at beginning of period 480 743 Reclassification from nonaccretable discount to accretable discount 333 — Disposals — 1 Accretion (495 ) (25 ) Accretable discount at end of period 318 719 |
Affordable Housing Tax Credit L
Affordable Housing Tax Credit Limited Partnership | 3 Months Ended |
Mar. 31, 2020 | |
Equity Method Investments and Joint Ventures [Abstract] | |
Affordable Housing Tax Credit Limited Partnership | Affordable Housing Tax Credit Limited Partnership LCNB is a limited partner in limited partnerships that sponsor affordable housing projects utilizing the Low Income Housing Tax Credit ("LIHTC") pursuant to Section 42 of the Internal Revenue Code. The purpose of the investments is to achieve a satisfactory return on capital, to facilitate the sale of additional affordable housing product offerings, and to assist in achieving goals associated with the Community Reinvestment Act. The primary activities of the limited partnerships include the identification, development, and operation of multi-family housing that is leased to qualifying residential tenants. The following table presents the balances of LCNB's affordable housing tax credit investments and related unfunded commitments at March 31, 2020 and December 31, 2019 (in thousands): March 31, December 31, Affordable housing tax credit investment $ 7,000 7,000 Less amortization 936 810 Net affordable housing tax credit investment $ 6,064 6,190 Unfunded commitment $ 4,344 4,596 The net affordable housing tax credit investment is included in other assets and the unfunded commitment is included in accrued interest and other liabilities in the consolidated condensed balance sheets. LCNB expects to fund the unfunded commitment over 11 years . The following table presents other information relating to LCNB's affordable housing tax credit investments for the three months ended March 31, 2020 and 2019 (in thousands): 2020 2019 Tax credits and other tax benefits recognized $ 159 84 Tax credit amortization expense included in provision for income taxes 126 45 |
Borrowings
Borrowings | 3 Months Ended |
Mar. 31, 2020 | |
Debt Disclosure [Abstract] | |
Borrowings | Borrowings Borrowings at March 31, 2020 and December 31, 2019 were as follows (dollars in thousands): March 31, 2020 December 31, 2019 Amount Rate Amount Rate FHLB long-term advances 35,996 2.63 % 40,994 2.55 % $ 35,996 2.63 % $ 40,994 2.55 % All advances from the Federal Home Loan Bank ("FHLB") of Cincinnati, both long-term and short-term, are secured by a blanket pledge of LCNB's 1-4 family first lien mortgage loans in the amount of approximately $280 million and $283 million at March 31, 2020 and December 31, 2019 , respectively. Additionally, LCNB is required to hold minimum levels of FHLB stock, based on the outstanding borrowings. Total remaining borrowing capacity at March 31, 2020 was approximately $93.4 million. One of the factors limiting remaining borrowing capacity is ownership of FHLB stock. LCNB could increase its remaining borrowing capacity by purchasing additional FHLB stock. |
Leases
Leases | 3 Months Ended |
Mar. 31, 2020 | |
Leases [Abstract] | |
Leases | Leases LCNB has capitalized operating leases for its Otterbein, Fairfield, Barron Street, and Worthington offices, for the land at its Oxford and Oakwood offices, and for certain office and ATM equipment. The Oakwood lease has a remaining term of seventeen years with options to renew for six additional periods of five years each. The Oxford lease has a remaining term of forty-one years with no renewal options. The other leases have remaining terms of less than one year up to six years , some of which contain options to renew the leases for additional five -year periods. Right-of-use assets represent LCNB's right to use the underlying assets for their lease terms and lease liabilities represent the obligation to make lease payments. They are recognized using the present value of lease payments over the lease terms. The discount rate is LCNB's incremental borrowing rate for periods similar to the respective lease terms. LCNB management is reasonably certain that it will exercise the renewal options for the offices named above and these additional terms have been included in the calculation of the right-of-use assets and the lease liabilities. The lease for the Fairfield office is for a period of one year and LCNB management has elected the short-term measurement and recognition exception permitted by ASC 842 and has not calculated a right-of-use asset or lease liability for this office. Lease expenses for offices are included in the consolidated condensed statements of income in occupancy expense, net and lease expenses for equipment and ATMs are included in equipment expenses. Components of lease expense for the three months ended March 31, 2020 were as follows (in thousands): Three Months Ended March 31, 2020 2019 Operating lease expense $ 153 140 Short-term lease expense 12 12 Variable lease expense 3 2 Other 1 5 Total lease expense $ 169 159 Other information related to leases at March 31, 2020 were as follows (dollars in thousands): Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 120 Right-of-use assets obtained in exchange for new operating lease liabilities $ 313 Weighted average remaining lease term in years for operating leases 37.4 Weighted average discount rate for operating leases 3.65 % |
Income Taxes
Income Taxes | 3 Months Ended |
Mar. 31, 2020 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Income Taxes A reconciliation between the statutory income tax and LCNB's effective tax rate on income from continuing operations follows: Three Months Ended March 31, 2020 2019 Statutory tax rate 21.0 % 21.0 % Increase (decrease) resulting from: Tax exempt interest (1.0 )% (1.9 )% Tax exempt income on bank owned life insurance (2.2 )% (0.7 )% Captive insurance premium income (0.8 )% (0.9 )% Tax benefit from certain provisions of the CARES Act (3.4 )% — % Other, net (0.7 )% (0.6 )% Effective tax rate 12.9 % 16.9 % |
Commitments and Contingent Liab
Commitments and Contingent Liabilities | 3 Months Ended |
Mar. 31, 2020 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingent Liabilities | Commitments and Contingent Liabilities LCNB is a party to financial instruments with off-balance-sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit. They involve, to varying degrees, elements of credit and interest rate risk in excess of the amount recognized in the balance sheets. Exposure to credit loss in the event of nonperformance by the other parties to financial instruments for commitments to extend credit is represented by the contract amount of those instruments. The Bounce Protection product, a customer deposit overdraft program, is offered as a service and does not constitute a contract between the customer and LCNB. LCNB uses the same credit policies in making commitments and conditional obligations as it does for on-balance-sheet instruments. Financial instruments whose contract amounts represent off-balance-sheet credit risk at March 31, 2020 and December 31, 2019 were as follows (in thousands): March 31, 2020 December 31, 2019 Commitments to extend credit: Commercial loans $ 99,330 50,235 Other loans Fixed rate 24,518 4,431 Adjustable rate 9,360 1,199 Unused lines of credit: Fixed rate 24,245 28,796 Adjustable rate 166,492 174,577 Unused overdraft protection amounts on demand and NOW accounts 16,288 16,304 Standby letters of credit 879 883 Total commitments $ 341,112 276,425 Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Unused lines of credit include amounts not drawn on line of credit loans. Commitments to extend credit and unused lines of credit generally have fixed expiration dates or other termination clauses. LCNB evaluates each customer's credit worthiness on a case-by-case basis. The amount of collateral obtained, if deemed necessary, is based on management's credit evaluation of the borrower. Collateral held varies, but may include accounts receivable, inventory, residential realty, income-producing commercial property, agricultural property, and property, plant, and equipment. Standby letters of credit are conditional commitments issued to guarantee the performance of a customer to a third party. These guarantees generally are fully secured and have varying maturities. Capital expenditures include the construction or acquisition of new office buildings, improvements to LCNB's offices, purchases of furniture and equipment, and additions or improvements to LCNB's information technology system. Commitments outstanding for capital expenditures as of March 31, 2020 totaled approximately $1,780,000 . Management believes that LCNB has sufficient liquidity to fund its lending and capital expenditure commitments. LCNB and its subsidiaries are parties to various claims and proceedings arising in the normal course of business. Management, after consultation with legal counsel, believes that the liabilities, if any, arising from such proceedings and claims will not be material to the consolidated financial position or results of operations. |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income | 3 Months Ended |
Mar. 31, 2020 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Accumulated Other Comprehensive Income | Accumulated Other Comprehensive Income (Loss) Changes in accumulated other comprehensive income (loss) for the three months ended March 31, 2020 and 2019 were as follows (in thousands): Three Months Ended March 31, Unrealized Gains and Losses on Available-for-Sale Securities Changes in Pension Plan Assets and Benefit Obligations Total 2020 Balance at beginning of period $ 857 (184 ) 673 Before reclassifications 2,658 — 2,658 Reclassifications (175 ) — (175 ) Balance at end of period $ 3,340 (184 ) 3,156 2019 Balance at beginning of period $ (4,631 ) (88 ) (4,719 ) Before reclassifications 2,475 — 2,475 Reclassifications 14 — 14 Balance at end of period $ (2,142 ) (88 ) (2,230 ) Reclassifications out of accumulated other comprehensive income (loss) during the three months ended March 31, 2020 and 2019 and the affected line items in the consolidated condensed statements of income were as follows (in thousands): Three Months Ended Affected Line Item in the Consolidated Condensed Statements of Income 2020 2019 Realized gains (losses) from sales of debt securities, available-for-sale $ 221 (18 ) Net gains (losses) from sales of debt securities, available-for-sale Income tax expense (benefit) 46 (4 ) Provision for income taxes Reclassification adjustment, net of taxes $ 175 (14 ) |
Retirement Plans
Retirement Plans | 3 Months Ended |
Mar. 31, 2020 | |
Retirement Benefits [Abstract] | |
Retirement Plans | Retirement Plans LCNB participates in a noncontributory defined benefit multi-employer retirement plan that covers substantially all regular full-time employees hired before January 1, 2009. Employees hired before this date who received a benefit reduction under certain amendments to the defined benefit retirement plan receive an automatic contribution of 5% or 7% of their annual compensation, depending on the sum of an employee's age and vesting service, into their defined contribution plans (401(k) plans), regardless of the contributions made by the employees. These contributions are made annually and these employees do not receive any employer matches to their 401(k) contributions. Employees hired on or after January 1, 2009 receive a 50% employer match on their contributions into the 401(k) plan, up to a maximum LCNB contribution of 3% of each individual employee's annual compensation. Funding and administrative costs of the qualified noncontributory defined benefit retirement plan and 401(k) plan charged to pension and other employee benefits in the consolidated condensed statements of income for the three -month period ended March 31, 2020 and 2019 were as follows (in thousands): Three Months Ended 2020 2019 Qualified noncontributory defined benefit retirement plan $ 270 256 401(k) plan 165 143 Certain highly compensated former employees participate in a nonqualified defined benefit retirement plan. The nonqualified plan ensures that participants receive the full amount of benefits to which they would have been entitled under the noncontributory defined benefit retirement plan in the absence of limits on benefit levels imposed by certain sections of the Internal Revenue Code. This plan is limited to the original participants and no new participants have been added. The components of net periodic pension cost of the nonqualified defined benefit retirement plan for the three months ended March 31, 2020 and 2019 are summarized as follows (in thousands): Three Months Ended 2020 2019 Service cost $ — — Interest cost 16 18 Amortization of unrecognized net loss — — Net periodic pension cost $ 16 18 Amounts recognized in accumulated other comprehensive income (loss), net of tax, at March 31, 2020 and December 31, 2019 for the nonqualified defined benefit retirement plan consists of (in thousands): March 31, 2020 December 31, 2019 Net actuarial loss $ 184 184 Past service cost — — Total recognized, net of tax $ 184 184 |
Stock Based Compensation
Stock Based Compensation | 3 Months Ended |
Mar. 31, 2020 | |
Share-based Payment Arrangement [Abstract] | |
Stock Based Compensation | The following table presents expense recorded in salaries and employee benefits for restricted stock awards and the related tax information for the three months ended March 31, 2020 and 2019 (in thousands): Three Months Ended 2020 2019 Restricted stock expense $ 33 70 Tax effect 7 15 |
Earnings Per Common Share
Earnings Per Common Share | 3 Months Ended |
Mar. 31, 2020 | |
Earnings Per Share [Abstract] | |
Earnings Per Common Share | Earnings per Common Share LCNB has granted restricted stock awards with non-forfeitable dividend rights, which are considered participating securities. Accordingly, earnings per share is computed using the two-class method as required by ASC 260-10-45. Basic earnings per common share is calculated by dividing net income allocated to common shareholders by the weighted average number of common shares outstanding during the period, which excludes the participating securities. Diluted earnings per common share is adjusted for the dilutive effects of stock options, warrants, and restricted stock. The diluted average number of common shares outstanding has been increased for the assumed exercise of stock options and warrants with proceeds used to purchase treasury shares at the average market price for the period. Earnings per share for the three months ended March 31, 2020 and 2019 were calculated as follows (dollars in thousands, except share and per share data): Three Months Ended 2020 2019 Net income $ 5,026 4,627 Less allocation of earnings and dividends to participating securities 11 8 Net income allocated to common shareholders $ 5,015 4,619 Weighted average common shares outstanding, gross 12,955,672 13,307,865 Less average participating securities 29,595 24,231 Weighted average number of shares outstanding used in the calculation of basic earnings per common share 12,926,077 13,283,634 Add dilutive effect of: Stock options 1,589 3,704 Adjusted weighted average number of shares outstanding used in the calculation of diluted earnings per common share 12,927,666 13,287,338 Earnings per common share: Basic $ 0.39 0.35 Diluted 0.39 0.35 There were no anti-dilutive stock options outstanding at March 31, 2020 or 2019 . |
Fair Value Measurements
Fair Value Measurements | 3 Months Ended |
Mar. 31, 2020 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | Fair Value Measurements LCNB measures certain assets at fair value using various valuation techniques and assumptions, depending on the nature of the asset. Fair value is defined as the price that would be received from the sale of an asset in an orderly transaction between market participants at the measurement date. The inputs to the valuation techniques used to measure fair value are assigned to one of three broad levels: • Level 1 – quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the reporting date. • Level 2 – inputs other than quoted prices included within level 1 that are observable for the asset or liability either directly or indirectly. Level 2 inputs may include quoted prices for similar assets in active markets, quoted prices for identical assets or liabilities in markets that are not active, inputs other than quoted prices (such as interest rates or yield curves) that are observable for the asset or liability, and inputs that are derived from or corroborated by observable market data. • Level 3 – inputs that are unobservable for the asset or liability. Equity Securities With a Readily Determinable Fair Value Equity securities with a readily determinable fair value are reported at fair value with changes in fair value reported in other operating income in the consolidated condensed statements of income. Fair values for equity securities are determined based on market quotations (level 1). LCNB has invested in two mutual funds that are traded in active markets and their fair values are based on market quotations (level 1). Investments in another two mutual funds are measured at fair value using net asset values ("NAV") and are considered level 1 because the NAVs are determined and published and are the basis for current transactions. One of the mutual funds measured at fair value using its NAV was sold during the first quarter 2019. Debt Securities, Available-for-Sale The majority of LCNB's financial debt securities are classified as available-for-sale. The securities are reported at fair value with unrealized holding gains and losses reported net of income taxes in accumulated other comprehensive income (loss). LCNB utilizes a pricing service for determining the fair values of its debt securities. Methods and significant assumptions used to estimate fair value were as follows: • Fair value for U.S. Treasury notes are determined based on market quotations (level 1). • Fair values for the other debt securities are calculated using the discounted cash flow method for each security. The discount rates for these cash flows are estimated by the pricing service using rates observed in the market (level 2). Cash flow streams are dependent on estimated prepayment speeds and the overall structure of the securities given existing market conditions. Assets Recorded at Fair Value on a Nonrecurring Basis Assets that may be recorded at fair value on a nonrecurring basis include impaired loans, other real estate owned, and other repossessed assets. A loan is considered impaired when management believes it is probable that payment of interest and principal will not be made in accordance with the contractual terms of the loan agreement. Impaired loans are carried at the present value of estimated future cash flows using the loan's existing rate or the fair value of collateral if the loan is collateral dependent, if this value is less than the loan balance. These inputs are considered to be level 3. Other real estate owned is adjus t ed to fair value, less costs to sell, upon transfer of the loan to foreclosed assets, usually based on an appraisal of the property. Subsequently, foreclosed assets are carried at the lower of carrying value or fair value. Other repossessed assets are valued at estimated sales prices, less costs to sell. The inputs for real estate owned and other repossessed assets are considered to be level 3. The following table summarizes the valuation of LCNB's assets recorded at fair value by input levels as of March 31, 2020 and December 31, 2019 (in thousands): Fair Value Measurements at the End of the Reporting Period Using Fair Value Measurements Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) March 31, 2020 Recurring fair value measurements: Equity securities with a readily determinable fair value: Equity securities $ 675 675 — — Mutual funds 34 34 — — Mutual funds measured at net asset value 1,327 1,327 — — Debt securities, available-for-sale: U.S. Treasury notes 2,409 2,409 — — U.S. Agency notes 22,703 — 22,703 — U.S. Agency mortgage-backed securities 82,685 — 82,685 — Municipal securities: Non-taxable 13,368 — 13,368 — Taxable 20,274 — 20,274 — Total recurring fair value measurements $ 143,475 4,445 139,030 — Nonrecurring fair value measurements: Impaired loans $ 1,352 — — 1,352 Other real estate owned and repossessed assets — — — — Total nonrecurring fair value measurements $ 1,352 — — 1,352 December 31, 2019 Recurring fair value measurements: Equity securities with a readily determinable fair value: Equity securities $ 967 967 — — Mutual funds 45 45 — — Mutual funds measured at net asset value 1,300 1,300 — — Debt securities, available-for-sale: U.S. Treasury notes 2,309 2,309 — — U.S. Agency notes 48,984 — 48,984 — U.S. Agency mortgage-backed securities 84,406 — 84,406 — Municipal securities: Non-taxable 22,321 — 22,321 — Taxable 19,980 — 19,980 — Total recurring fair value measurements $ 180,312 4,621 175,691 — Nonrecurring fair value measurements: Impaired loans $ 2,840 — — 2,840 Other real estate owned and repossessed assets 197 — — 197 Total nonrecurring fair value measurements $ 3,037 — — 3,037 The following table presents quantitative information about unobservable inputs used in nonrecurring level 3 fair value measurements at March 31, 2020 and December 31, 2019 (dollars in thousands): Range Fair Value Valuation Technique Unobservable Inputs High Low Weighted Average March 31, 2020 Impaired loans $ 728 Estimated sales price Adjustments for comparable properties, discounts to reflect current market conditions Not applicable 624 Discounted cash flows Discount rate 8.25 % 4.50 % 6.66 % Other real estate owned — Estimated sales price Adjustments for comparable properties, discounts to reflect current market conditions Not applicable December 31, 2019 Impaired loans $ 1,931 Estimated sales price Adjustments for comparable properties, discounts to reflect current market conditions Not applicable 909 Discounted cash flows Discount rate 8.25 % 4.50 % 6.83 % Other real estate owned 197 Estimated sales price Adjustments for comparable properties, discounts to reflect current market conditions Not applicable Carrying amounts and estimated fair values of financial instruments as of March 31, 2020 and December 31, 2019 were as follows (in thousands): Fair Value Measurements at the End of Carrying Amount Fair Value Quoted Significant Other Observable Inputs Significant Unobservable Inputs March 31, 2020 FINANCIAL ASSETS: Cash and cash equivalents $ 24,795 24,795 24,795 — — Debt securities, held-to-maturity 27,694 28,019 — — 28,019 Federal Reserve Bank stock 4,652 4,652 4,652 — — Federal Home Loan Bank stock 5,203 5,203 5,203 — — Loans, net 1,267,379 1,280,021 — — 1,280,021 Accrued interest receivable 4,462 4,462 — 4,462 — FINANCIAL LIABILITIES: Deposits 1,345,872 1,351,382 1,028,564 322,818 — Short-term borrowings — — — — Long-term debt 35,996 37,008 — 37,008 — Accrued interest payable 575 575 — 575 — December 31, 2019 FINANCIAL ASSETS: Cash and cash equivalents $ 20,765 20,765 20,765 — — Debt securities, held-to-maturity 27,525 27,888 — — 27,888 Federal Reserve Bank stock 4,652 4,652 4,652 — — Federal Home Loan Bank stock 5,203 5,203 5,203 — — Loans, net 1,239,406 1,252,156 — — 1,252,156 Accrued interest receivable 3,911 3,911 — 3,911 — FINANCIAL LIABILITIES: Deposits 1,348,280 1,352,061 1,004,057 348,004 — Short-term borrowings — — — — — Long-term debt 40,994 41,487 — 41,487 — Accrued interest payable 705 705 — 705 — The fair values of off-balance-sheet financial instruments such as loan commitments and letters of credit are based on fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements. The fair values of such instruments were not material at March 31, 2020 and December 31, 2019 . Fair values of financial instruments are based on various assumptions, including the discount rate and estimates of future cash flows. Therefore, the fair values presented may not represent amounts that could be realized in actual transactions. In addition, because the required disclosures exclude certain financial instruments and all nonfinancial instruments, any aggregation of the fair value amounts presented would not represent the underlying value of LCNB. The following methods and assumptions were used to estimate the fair value of certain financial instruments: Cash and cash equivalents The carrying amounts presented are deemed to approximate fair value. Equity securities without a readily determinable fair value Equity securities without a readily determinable fair value are measured at cost, less impairment, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer. Debt securities, held-to-maturity Fair values for debt securities, held-to-maturity are based on quoted market prices for similar securities and/or discounted cash flow analysis or other methods. Federal Home Loan Bank stock and Federal Reserve Bank stock The carrying value of Federal Home Loan Bank and Federal Reserve Bank stock approximates fair value based on the respective redemptive provisions. Loans The estimated fair value of loans follows the guidance in ASU 2016-01, which prescribes an “exit price” approach in estimating and disclosing fair value of financial instruments. The fair value calculation discounts estimated future cash flows using rates that incorporated discounts for credit, liquidity, and marketability factors. Deposits The fair value of demand deposits, savings accounts, and certain money market deposits is the amount payable on demand at the reporting date. The fair value of fixed-maturity certificates of deposit is estimated using the rates currently offered for deposits of similar remaining maturities, which approximates market rates. Borrowings The carrying amounts of federal funds purchased, repurchase agreements, and U.S. Treasury demand note borrowings are deemed to approximate fair value of short-term borrowings. For long-term debt, fair values are estimated based on the discounted value of expected net cash flows using current interest rates. Accrued interest receivable and accrued interest payable Carrying amount approximates fair value. |
Recent Accounting Pronouncement
Recent Accounting Pronouncements | 3 Months Ended |
Mar. 31, 2020 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
Recent Accounting Pronouncements | Recent Accounting Pronouncements From time to time the FASB issues an ASU to communicate changes to U.S. generally accepted accounting principles. The following information provides brief summaries of newly issued but not yet effective ASUs that could have an effect on LCNB’s financial position or results of operations: ASU No. 2016-13, "Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments" ASU No. 2016-13 was issued in June 2016 and, once effective, will significantly change current guidance for recognizing impairment of financial instruments. Current guidance requires an "incurred loss" methodology for recognizing credit losses that delays recognition until it is probable a loss has been incurred. ASU No. 2016-13 replaces the incurred loss impairment methodology with a new current expected credit loss ("CECL") methodology that reflects expected credit losses over the lives of the loans and requires consideration of a broader range of information to inform credit loss estimates. The ASU requires an organization to estimate all expected credit losses for financial assets measured at amortized cost, including loans and held-to-maturity debt securities, based on historical experience, current conditions, and reasonable and supportable forecasts. Additional disclosures are required. ASU No. 2016-13 also amends the accounting for credit losses on debt securities, available-for-sale, and purchased financial assets with credit deterioration. Under the new guidance, entities will determine whether all or a portion of the unrealized loss on an available-for-sale debt security is a credit loss. Any credit loss will be recognized as an allowance for credit losses on debt securities, available-for-sale, rather than as a direct reduction of the amortized cost basis of the investment, as is currently required. As a result, entities will recognize improvements to estimated credit losses on debt securities, available-for-sale, immediately in earnings rather than as interest income over time, as currently required. ASU No. 2016-13 eliminates the current accounting model for purchased credit impaired loans and debt securities. Instead, purchased financial assets with credit deterioration will be recorded gross of estimated credit losses as of the date of acquisition and the estimated credit losses amounts will be added to the allowance for credit losses. Thereafter, entities will account for additional impairment of such purchased assets using the models listed above. Originally, ASU No. 2016-13 would have taken effect for SEC filers for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. At their meeting on October 16, 2019, FASB approved a final ASU delaying the effective date for several major standards, including ASU No. 2016-13, if certain qualifications are met. The new effective date for SEC filers eligible to be smaller reporting companies ("SRC"), as defined, will be fiscal years, and interim periods within those fiscal years, beginning after December 15, 2022. Early adoption is permitted. As an SRC, LCNB intends to adopt ASU No. 2016-13 for the fiscal year, and interim periods within the fiscal year, beginning after December 15, 2022. LCNB has created a cross-functional CECL Committee, which reports to the Audit Committee, composed of members from the lending, trust, and finance departments. The CECL Committee has selected a vendor to assist in implementation of and ongoing compliance with the new requirements. It has completed analyzing its data collection efforts, selected a calculation model, and is currently analyzing its pool segmentation and reporting mechanisms for adoption of the new methodology. While the committee and management expect that the implementation of ASU No. 2016-13 will increase the balance of the allowance for loan losses, they are continuing to evaluate the potential impact on LCNB's results of operations and financial position. The financial statement impact of this new standard cannot be reasonably estimated at this time. ASU No. 2018-14, "Compensation - Retirement Benefits - Defined Benefit Plans - General (Subtopic 715-20): Disclosure Framework - Changes to the Disclosure Requirements for Defined Benefit Plans" ASU No. 2018-14 was issued in August 2018. The amendments in this update modify disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans, including the deletion, modification, and addition of certain targeted disclosures. The amendments are effective for public business entities for fiscal years beginning after December 15, 2020. Early adoption is permitted. The amendments are to be applied on a retrospective basis to all periods presented upon adoption. Adoption of ASU No. 2018-14 will not have a material impact on LCNB's results of operations or financial position. ASU No. 2019-12, "Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes" ASU No. 2019-12 was issued in December 2019 and simplifies the accounting for income taxes by removing certain exceptions to the general principles in Topic 740 and clarifies and amends certain other guidance. The amendments in this update are effective for public business entities for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years. Early adoption is permitted, including adoption in any interim period. Adoption of ASU No. 2019-12 is not expected to have a material impact on LCNB's results of operations or financial position. |
Recent Accounting Pronounceme_2
Recent Accounting Pronouncements (Policies) | 3 Months Ended |
Mar. 31, 2020 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
Recent Accounting Pronouncements | Recent Accounting Pronouncements From time to time the FASB issues an ASU to communicate changes to U.S. generally accepted accounting principles. The following information provides brief summaries of newly issued but not yet effective ASUs that could have an effect on LCNB’s financial position or results of operations: ASU No. 2016-13, "Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments" ASU No. 2016-13 was issued in June 2016 and, once effective, will significantly change current guidance for recognizing impairment of financial instruments. Current guidance requires an "incurred loss" methodology for recognizing credit losses that delays recognition until it is probable a loss has been incurred. ASU No. 2016-13 replaces the incurred loss impairment methodology with a new current expected credit loss ("CECL") methodology that reflects expected credit losses over the lives of the loans and requires consideration of a broader range of information to inform credit loss estimates. The ASU requires an organization to estimate all expected credit losses for financial assets measured at amortized cost, including loans and held-to-maturity debt securities, based on historical experience, current conditions, and reasonable and supportable forecasts. Additional disclosures are required. ASU No. 2016-13 also amends the accounting for credit losses on debt securities, available-for-sale, and purchased financial assets with credit deterioration. Under the new guidance, entities will determine whether all or a portion of the unrealized loss on an available-for-sale debt security is a credit loss. Any credit loss will be recognized as an allowance for credit losses on debt securities, available-for-sale, rather than as a direct reduction of the amortized cost basis of the investment, as is currently required. As a result, entities will recognize improvements to estimated credit losses on debt securities, available-for-sale, immediately in earnings rather than as interest income over time, as currently required. ASU No. 2016-13 eliminates the current accounting model for purchased credit impaired loans and debt securities. Instead, purchased financial assets with credit deterioration will be recorded gross of estimated credit losses as of the date of acquisition and the estimated credit losses amounts will be added to the allowance for credit losses. Thereafter, entities will account for additional impairment of such purchased assets using the models listed above. Originally, ASU No. 2016-13 would have taken effect for SEC filers for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. At their meeting on October 16, 2019, FASB approved a final ASU delaying the effective date for several major standards, including ASU No. 2016-13, if certain qualifications are met. The new effective date for SEC filers eligible to be smaller reporting companies ("SRC"), as defined, will be fiscal years, and interim periods within those fiscal years, beginning after December 15, 2022. Early adoption is permitted. As an SRC, LCNB intends to adopt ASU No. 2016-13 for the fiscal year, and interim periods within the fiscal year, beginning after December 15, 2022. LCNB has created a cross-functional CECL Committee, which reports to the Audit Committee, composed of members from the lending, trust, and finance departments. The CECL Committee has selected a vendor to assist in implementation of and ongoing compliance with the new requirements. It has completed analyzing its data collection efforts, selected a calculation model, and is currently analyzing its pool segmentation and reporting mechanisms for adoption of the new methodology. While the committee and management expect that the implementation of ASU No. 2016-13 will increase the balance of the allowance for loan losses, they are continuing to evaluate the potential impact on LCNB's results of operations and financial position. The financial statement impact of this new standard cannot be reasonably estimated at this time. ASU No. 2018-14, "Compensation - Retirement Benefits - Defined Benefit Plans - General (Subtopic 715-20): Disclosure Framework - Changes to the Disclosure Requirements for Defined Benefit Plans" ASU No. 2018-14 was issued in August 2018. The amendments in this update modify disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans, including the deletion, modification, and addition of certain targeted disclosures. The amendments are effective for public business entities for fiscal years beginning after December 15, 2020. Early adoption is permitted. The amendments are to be applied on a retrospective basis to all periods presented upon adoption. Adoption of ASU No. 2018-14 will not have a material impact on LCNB's results of operations or financial position. ASU No. 2019-12, "Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes" ASU No. 2019-12 was issued in December 2019 and simplifies the accounting for income taxes by removing certain exceptions to the general principles in Topic 740 and clarifies and amends certain other guidance. The amendments in this update are effective for public business entities for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years. Early adoption is permitted, including adoption in any interim period. Adoption of ASU No. 2019-12 is not expected to have a material impact on LCNB's results of operations or financial position. |
Investment Securities (Tables)
Investment Securities (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Investments, Debt and Equity Securities [Abstract] | |
Realized Gain (Loss) on Investments [Table Text Block] | Certain information concerning the sale of debt securities, available-for-sale, for the three months ended March 31, 2020 and 2019 was as follows (in thousands): Three Months Ended 2020 2019 Proceeds from sales 8,786 21,806 Gross realized gains 221 58 Gross realized losses — 76 |
Amortized Cost and Fair Value of Available-for-Sale Investment Securities | The amortized cost and estimated fair value of equity and debt securities at March 31, 2020 and December 31, 2019 are summarized as follows (in thousands): Amortized Unrealized Unrealized Fair March 31, 2020 Debt Securities, Available-for-Sale: U.S. Treasury notes $ 2,272 137 — 2,409 U.S. Agency notes 21,882 821 — 22,703 U.S. Agency mortgage-backed securities 80,072 2,613 — 82,685 Municipal securities: Non-taxable 13,254 118 4 13,368 Taxable 19,732 550 8 20,274 $ 137,212 4,239 12 141,439 Debt Securities, Held-to-Maturity: Municipal securities: Non-taxable $ 24,189 480 21 24,648 Taxable 3,505 2 136 3,371 $ 27,694 482 157 28,019 December 31, 2019 Debt Securities, Available-for-Sale: U.S. Treasury notes $ 2,273 36 — 2,309 U.S. Agency notes 48,745 273 34 48,984 U.S. Agency mortgage-backed securities 83,977 672 243 84,406 Municipal securities: Non-taxable 22,174 161 14 22,321 Taxable 19,746 269 35 19,980 $ 176,915 1,411 326 178,000 Debt Securities, Held-to-Maturity: Municipal securities: Non-taxable $ 24,300 343 5 24,638 Taxable 3,225 25 — 3,250 $ 27,525 368 5 27,888 |
Securities in a Continuous Loss Position | Information concerning debt securities with gross unrealized losses at March 31, 2020 and December 31, 2019 , aggregated by length of time that individual securities have been in a continuous loss position, is as follows (dollars in thousands): Less than Twelve Months Twelve Months or Greater Fair Value Unrealized Losses Fair Value Unrealized Losses March 31, 2020 Available-for-Sale: U.S. Agency mortgage-backed securities $ — — 60 — Municipal securities: Non-taxable 646 4 — — Taxable 868 8 — — $ 1,514 12 60 — Held-to-Maturity: Municipal securities: Non-taxable $ 2,142 16 1,790 5 Taxable 3,089 136 — — $ 5,231 152 1,790 5 December 31, 2019 Available-for-Sale: U.S. Agency notes $ 3,586 11 11,939 23 U.S. Agency mortgage-backed securities 10,555 10 19,233 233 Municipal securities: Non-taxable 2,631 2 1,257 12 Taxable 5,067 35 450 — $ 21,839 58 32,879 268 Held-to-Maturity: Municipal securities: Non-taxable $ 54 — 2,660 5 $ 54 — 2,660 5 |
Investments Classified by Contractual Maturity Date | Contractual maturities of debt securities at March 31, 2020 were as follows (in thousands). Actual maturities may differ from contractual maturities when issuers have the right to call or prepay obligations. Available-for-Sale Held-to-Maturity Amortized Cost Fair Value Amortized Cost Fair Value Due within one year $ 11,145 11,198 2,472 2,473 Due from one to five years 26,964 27,677 7,349 7,365 Due from five to ten years 19,031 19,879 2,260 2,282 Due after ten years — — 15,613 15,899 57,140 58,754 27,694 28,019 U.S. Agency mortgage-backed securities 80,072 82,685 — — $ 137,212 141,439 27,694 28,019 |
Schedule of Debt Securities, Trading, and Equity Securities, FV-NI | The amortized cost and estimated fair value of equity securities with a readily determinable fair value at March 31, 2020 and December 31, 2019 are summarized as follows (in thousands): March 31, 2020 December 31, 2019 Amortized Fair Amortized Fair Mutual funds $ 1,378 1,361 1,371 1,345 Equity securities 685 675 741 967 Total equity securities with a readily determinable fair value $ 2,063 2,036 2,112 2,312 |
Schedule of Equity Securities, Changes in Fair Value | quity securities with a readily determinable fair value are carried at fair value, with changes in fair value recognized in other operating income in the consolidated condensed statements of income. Equity securities without a readily determinable fair value are measured at cost minus impairment, if any, plus or minus any changes resulting from observable price changes in orderly transactions, as defined, for identical or similar investments of the same issuer. LCNB was not aware of any impairment or observable price change adjustments that needed to be made at March 31, 2020 on its investments in equity securities without a readily determinable fair value. The amortized cost and estimated fair value of equity securities with a readily determinable fair value at March 31, 2020 and December 31, 2019 are summarized as follows (in thousands): March 31, 2020 December 31, 2019 Amortized Fair Amortized Fair Mutual funds $ 1,378 1,361 1,371 1,345 Equity securities 685 675 741 967 Total equity securities with a readily determinable fair value $ 2,063 2,036 2,112 2,312 Certain information concerning changes in fair value of equity securities with a readily determinable fair value for the three months ended March 31, 2020 and 2019 is as follows (in thousands): Three Months Ended 2020 2019 Net gains recognized $ 333 93 Net realized gains (losses) on equity securities sold 559 (6 ) Unrealized gains (losses) recognized and still held at period end $ (226 ) 99 |
Loans (Tables)
Loans (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Receivables [Abstract] | |
Information About Loans Modified During Period That Were Determined To Be Troubled Debt Restructurings [Table Text Block] | nformation concerning loans that were modified during the three months ended March 31, 2020 and 2019 and that were determined to be troubled debt restructurings follows (in thousands): 2020 2019 Impaired loans without a valuation allowance $ 5 312 Impaired loans with a valuation allowance — — |
Financing Receivable, Troubled Debt Restructuring [Table Text Block] | Loan modifications that were classified as TDRs during the three months ended March 31, 2020 and 2019 were as follows (dollars in thousands): 2020 2019 Number of Loans Pre-Modification Recorded Balance Post-Modification Recorded Balance Number of Loans Pre-Modification Recorded Balance Post-Modification Recorded Balance Three Months Ended March 31, Commercial and industrial 1 $ 4 $ 5 — $ — $ — Commercial, secured by real estate — — — 2 258 258 Residential real estate — — — 2 54 54 Total 1 $ 4 $ 5 4 $ 312 $ 312 |
Major Classifications of Loans | Major classifications of loans at March 31, 2020 and December 31, 2019 were as follows (in thousands): March 31, 2020 December 31, 2019 Commercial and industrial $ 85,356 78,306 Commercial, secured by real estate 829,461 804,953 Residential real estate 318,009 322,533 Consumer 28,955 25,232 Agricultural 10,519 11,509 Other loans, including deposit overdrafts 436 1,193 Loans, gross 1,272,736 1,243,726 Deferred origination fees, net (349 ) (275 ) Loans, net of deferred origination fees 1,272,387 1,243,451 Less allowance for loan losses 5,008 4,045 Loans, net $ 1,267,379 1,239,406 |
Non-accrual, Past Due, and Accruing Restructured Loans | Non-accrual, past-due, and accruing restructured loans as of March 31, 2020 and December 31, 2019 were as follows (in thousands): March 31, 2020 December 31, 2019 Non-accrual loans: Commercial, secured by real estate $ 2,172 2,467 Residential real estate 657 743 Total non-accrual loans 2,829 3,210 Past-due 90 days or more and still accruing 39 — Total non-accrual and past-due 90 days or more and still accruing 2,868 3,210 Accruing restructured loans 4,126 6,609 Total $ 6,994 9,819 |
Allowance for Loan Losses and Recorded Investments in Loans | The allowance for loan losses for the three months ended March 31, 2020 and 2019 were as follows (in thousands): Commercial & Industrial Commercial, Secured by Real Estate Residential Real Estate Consumer Agricultural Other Total Three Months Ended March 31, 2020 Balance, beginning of year $ 456 2,924 528 99 34 4 4,045 Provision charged to expenses 159 920 31 41 5 17 1,173 Losses charged off — (270 ) (3 ) (12 ) — (36 ) (321 ) Recoveries 18 — 73 1 — 19 111 Balance, end of period $ 633 3,574 629 129 39 4 5,008 Three Months Ended March 31, 2019 Balance, beginning of year $ 400 2,745 767 87 46 1 4,046 Provision (credit) charged to expenses 51 57 (195 ) (31 ) (5 ) 18 (105 ) Losses charged off — — (33 ) — — (31 ) (64 ) Recoveries — 56 154 21 — 18 249 Balance, end of period $ 451 2,858 693 77 41 6 4,126 A breakdown of the allowance for loan losses and the loan portfolio by loan segment at March 31, 2020 and December 31, 2019 were as follows (in thousands): Commercial Commercial, Secured by Residential Consumer Agricultural Other Total March 31, 2020 Allowance for loan losses: Individually evaluated for impairment $ 22 — 12 — — — 34 Collectively evaluated for impairment 611 3,574 617 129 39 4 4,974 Acquired credit impaired loans — — — — — — — Balance, end of period $ 633 3,574 629 129 39 4 5,008 Loans: Individually evaluated for impairment $ 956 5,355 924 13 — — 7,248 Collectively evaluated for impairment 83,916 820,535 314,802 29,070 10,535 166 1,259,024 Acquired credit impaired loans 562 2,690 2,593 — — 270 6,115 Balance, end of period $ 85,434 828,580 318,319 29,083 10,535 436 1,272,387 December 31, 2019 Allowance for loan losses: Individually evaluated for impairment $ 6 272 17 — — — 295 Collectively evaluated for impairment 450 2,652 511 99 34 4 3,750 Acquired credit impaired loans — — — — — — — Balance, end of period $ 456 2,924 528 99 34 4 4,045 Loans: Individually evaluated for impairment $ 230 7,432 949 27 — — 8,638 Collectively evaluated for impairment 77,430 793,191 319,188 25,328 11,523 930 1,227,590 Acquired credit impaired loans 711 3,531 2,718 — — 263 7,223 Balance, end of period $ 78,371 804,154 322,855 25,355 11,523 1,193 1,243,451 |
Analysis of the Company's Loan Portfolio by Credit Quality Indicators | A breakdown of the loan portfolio by credit quality indicators at March 31, 2020 and December 31, 2019 is as follows (in thousands): Pass OAEM Substandard Doubtful Total March 31, 2020 Commercial & industrial $ 83,816 — 1,618 — 85,434 Commercial, secured by real estate 815,998 2,467 10,115 — 828,580 Residential real estate 313,270 1,795 3,254 — 318,319 Consumer 29,078 — 5 — 29,083 Agricultural 10,513 — 22 — 10,535 Other 436 — — — 436 Total $ 1,253,111 4,262 15,014 — 1,272,387 December 31, 2019 Commercial & industrial $ 76,236 233 1,902 — 78,371 Commercial, secured by real estate 789,319 3,007 11,828 — 804,154 Residential real estate 319,075 267 3,513 — 322,855 Consumer 25,342 — 13 — 25,355 Agricultural 11,523 — — — 11,523 Other 1,193 — — — 1,193 Total $ 1,222,688 3,507 17,256 — 1,243,451 |
Loan Portfolio Aging Analysis | A loan portfolio aging analysis at March 31, 2020 and December 31, 2019 is as follows (in thousands): 30-59 Days Past Due 60-89 Days Past Due Greater Than 90 Days Past Due Total Past Due Current Total Loans Receivable Total Loans Greater Than 90 Days and Accruing March 31, 2020 Commercial & industrial $ 1,465 — — 1,465 83,969 85,434 — Commercial, secured by real estate 261 511 1,092 1,864 826,716 828,580 — Residential real estate 2,398 23 461 2,882 315,437 318,319 39 Consumer 19 1 — 20 29,063 29,083 — Agricultural 22 — — 22 10,513 10,535 — Other 67 — — 67 369 436 — Total $ 4,232 535 1,553 6,320 1,266,067 1,272,387 39 December 31, 2019 Commercial & industrial $ 283 — — 283 78,088 78,371 — Commercial, secured by real estate 339 — 1,171 1,510 802,644 804,154 — Residential real estate 1,573 260 423 2,256 320,599 322,855 — Consumer 27 9 — 36 25,319 25,355 — Agricultural — — — — 11,523 11,523 — Other 930 — — 930 263 1,193 — Total $ 3,152 269 1,594 5,015 1,238,436 1,243,451 — |
Impaired Loans | Impaired loans, including acquired credit impaired loans, at March 31, 2020 and December 31, 2019 were as follows (in thousands): March 31, 2020 December 31, 2019 Recorded Investment Unpaid Principal Balance Related Allowance Recorded Investment Unpaid Principal Balance Related Allowance With no related allowance recorded: Commercial & industrial $ 562 862 — 711 1,253 — Commercial, secured by real estate 7,951 8,459 — 8,625 9,373 — Residential real estate 3,185 3,655 — 3,118 3,651 — Consumer 9 9 — 10 10 — Agricultural — — — — — — Other 270 391 — 263 392 — Total $ 11,977 13,376 — 12,727 14,679 — With an allowance recorded: Commercial & industrial $ 956 956 22 230 235 6 Commercial, secured by real estate 94 95 — 2,338 2,485 272 Residential real estate 332 332 12 549 549 17 Consumer 4 4 — 17 17 — Agricultural — — — — — — Other — — — — — — Total $ 1,386 1,387 34 3,134 3,286 295 Total: Commercial & industrial $ 1,518 1,818 22 941 1,488 6 Commercial, secured by real estate 8,045 8,554 — 10,963 11,858 272 Residential real estate 3,517 3,987 12 3,667 4,200 17 Consumer 13 13 — 27 27 — Agricultural — — — — — — Other 270 391 — 263 392 — Total $ 13,363 14,763 34 15,861 17,965 295 The following presents information related to the average recorded investment and interest income recognized on impaired loans, including acquired credit impaired loans, for the three months ended March 31, 2020 and 2019 (in thousands): 2020 2019 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Three Months Ended March 31, With no related allowance recorded: Commercial & industrial $ 637 264 767 7 Commercial, secured by real estate 9,823 344 18,302 199 Residential real estate 3,289 92 3,916 47 Consumer 18 — 13 — Agricultural — — — — Other 266 7 340 9 Total $ 14,033 707 23,338 262 With an allowance recorded: Commercial & industrial $ 839 10 259 4 Commercial, secured by real estate 95 2 244 12 Residential real estate 339 5 622 8 Consumer 5 — 22 — Agricultural — — — — Other — — — — Total $ 1,278 17 1,147 24 Total: Commercial & industrial $ 1,476 274 1,026 11 Commercial, secured by real estate 9,918 346 18,546 211 Residential real estate 3,628 97 4,538 55 Consumer 23 — 35 — Agricultural — — — — Other 266 7 340 9 Total $ 15,311 724 24,485 286 |
Schedule of Troubled Debt Restructurings, Modification Type [Table Text Block] | Term Modification Rate Modification Interest Only Principal Forgiveness Combination Total Modifications Three Months Ended March 31, 2020 Commercial & industrial $ — — — — 5 5 Total $ — — — — 5 5 Three Months Ended March 31, 2019 Commercial, secured by real estate $ — — — — 258 258 Residential real estate 54 — — — — 54 Total $ 54 — — — 258 312 |
Acquired Credit Impaired Loans
Acquired Credit Impaired Loans (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Receivables [Abstract] | |
Schedule Of Carrying Values Of Certain Loans Acquired In A Transfer Not Accounted For As Debt Securities | The following table provides at March 31, 2020 and December 31, 2019 the major classifications of acquired credit impaired loans that are accounted for in accordance with ASC 310-30 (in thousands): March 31, 2020 December 31, 2019 Acquired from First Capital Bancshares, Inc. Commercial & industrial $ 5 5 Commercial, secured by real estate — 792 Residential real estate 455 551 Other loans, including deposit overdrafts — — Loans, gross 460 1,348 Less allowance for loan losses — — Loans, net $ 460 1,348 Acquired from Eaton National Bank & Trust Co. Commercial & industrial $ 423 423 Commercial, secured by real estate 796 815 Residential real estate 675 685 Other loans, including deposit overdrafts 270 263 Loans, gross 2,164 2,186 Less allowance for loan losses — — Loans, net $ 2,164 2,186 Acquired from BNB Bancorp, Inc. Commercial & industrial $ — — Commercial, secured by real estate 1,205 1,219 Residential real estate 95 100 Other loans, including deposit overdrafts — — Loans, gross 1,300 1,319 Less allowance for loan losses — — Loans, net $ 1,300 1,319 Acquired from Columbus First Bancorp, Inc. Commercial & industrial $ 134 283 Commercial, secured by real estate 689 705 Residential real estate 1,368 1,382 Other loans, including deposit overdrafts — — Loans, gross 2,191 2,370 Less allowance for loan losses — — Loans, net $ 2,191 2,370 Total Commercial & industrial $ 562 711 Commercial, secured by real estate 2,690 3,531 Residential real estate 2,593 2,718 Other loans, including deposit overdrafts 270 263 Loans, gross 6,115 7,223 Less allowance for loan losses — — Loans, net $ 6,115 7,223 |
Outstanding and related carrying amount for acquired impaired loans | The following table provides the outstanding balance and related carrying amount for acquired credit impaired loans at the dates indicated (in thousands): March 31, 2020 December 31, 2019 Outstanding balance $ 7,537 9,139 Carrying amount 6,115 7,223 |
Accretable discount related to acquired impaired loans | Activity during the three months ended March 31, 2020 and 2019 for the accretable discount related to acquired credit impaired loans is as follows (in thousands): Three Months Ended March 31, 2020 2019 Accretable discount at beginning of period 480 743 Reclassification from nonaccretable discount to accretable discount 333 — Disposals — 1 Accretion (495 ) (25 ) Accretable discount at end of period 318 719 |
Affordable Housing Tax Credit_2
Affordable Housing Tax Credit Limited Partnership (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Equity Method Investments and Joint Ventures [Abstract] | |
Activity in Affordable Housing Program Obligation | The following table presents other information relating to LCNB's affordable housing tax credit investments for the three months ended March 31, 2020 and 2019 (in thousands): 2020 2019 Tax credits and other tax benefits recognized $ 159 84 Tax credit amortization expense included in provision for income taxes 126 45 The following table presents the balances of LCNB's affordable housing tax credit investments and related unfunded commitments at March 31, 2020 and December 31, 2019 (in thousands): March 31, December 31, Affordable housing tax credit investment $ 7,000 7,000 Less amortization 936 810 Net affordable housing tax credit investment $ 6,064 6,190 Unfunded commitment $ 4,344 4,596 |
Borrowings (Tables)
Borrowings (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Debt Disclosure [Abstract] | |
Short-term borrowings | orrowings at March 31, 2020 and December 31, 2019 were as follows (dollars in thousands): March 31, 2020 December 31, 2019 Amount Rate Amount Rate FHLB long-term advances 35,996 2.63 % 40,994 2.55 % $ 35,996 2.63 % $ 40,994 2.55 % |
Leases (Tables)
Leases (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Leases [Abstract] | |
Lease, Cost | Components of lease expense for the three months ended March 31, 2020 were as follows (in thousands): Three Months Ended March 31, 2020 2019 Operating lease expense $ 153 140 Short-term lease expense 12 12 Variable lease expense 3 2 Other 1 5 Total lease expense $ 169 159 |
Lessee, Leases, Other Information | Other information related to leases at March 31, 2020 were as follows (dollars in thousands): Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 120 Right-of-use assets obtained in exchange for new operating lease liabilities $ 313 Weighted average remaining lease term in years for operating leases 37.4 Weighted average discount rate for operating leases 3.65 % |
Income Taxes (Tables)
Income Taxes (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Income Tax Disclosure [Abstract] | |
Reconciliation between Statutory Income Tax and Effective Tax Rate | A reconciliation between the statutory income tax and LCNB's effective tax rate on income from continuing operations follows: Three Months Ended March 31, 2020 2019 Statutory tax rate 21.0 % 21.0 % Increase (decrease) resulting from: Tax exempt interest (1.0 )% (1.9 )% Tax exempt income on bank owned life insurance (2.2 )% (0.7 )% Captive insurance premium income (0.8 )% (0.9 )% Tax benefit from certain provisions of the CARES Act (3.4 )% — % Other, net (0.7 )% (0.6 )% Effective tax rate 12.9 % 16.9 % |
Commitments and Contingent Li_2
Commitments and Contingent Liabilities (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Commitments and Contingencies Disclosure [Abstract] | |
Financial Instruments Whose Contract Amounts Represent Off-Balance-Sheet Credit Risk | Financial instruments whose contract amounts represent off-balance-sheet credit risk at March 31, 2020 and December 31, 2019 were as follows (in thousands): March 31, 2020 December 31, 2019 Commitments to extend credit: Commercial loans $ 99,330 50,235 Other loans Fixed rate 24,518 4,431 Adjustable rate 9,360 1,199 Unused lines of credit: Fixed rate 24,245 28,796 Adjustable rate 166,492 174,577 Unused overdraft protection amounts on demand and NOW accounts 16,288 16,304 Standby letters of credit 879 883 Total commitments $ 341,112 276,425 |
Accumulated Other Comprehensi_2
Accumulated Other Comprehensive Income (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Schedule of Changes in Accumulated Other Comprehensive Income | Changes in accumulated other comprehensive income (loss) for the three months ended March 31, 2020 and 2019 were as follows (in thousands): Three Months Ended March 31, Unrealized Gains and Losses on Available-for-Sale Securities Changes in Pension Plan Assets and Benefit Obligations Total 2020 Balance at beginning of period $ 857 (184 ) 673 Before reclassifications 2,658 — 2,658 Reclassifications (175 ) — (175 ) Balance at end of period $ 3,340 (184 ) 3,156 2019 Balance at beginning of period $ (4,631 ) (88 ) (4,719 ) Before reclassifications 2,475 — 2,475 Reclassifications 14 — 14 Balance at end of period $ (2,142 ) (88 ) (2,230 ) Reclassifications out of accumulated other comprehensive income (loss) during the three months ended March 31, 2020 and 2019 and the affected line items in the consolidated condensed statements of income were as follows (in thousands): Three Months Ended Affected Line Item in the Consolidated Condensed Statements of Income 2020 2019 Realized gains (losses) from sales of debt securities, available-for-sale $ 221 (18 ) Net gains (losses) from sales of debt securities, available-for-sale Income tax expense (benefit) 46 (4 ) Provision for income taxes Reclassification adjustment, net of taxes $ 175 (14 ) |
Schedule of Reclassifications Out of Accumulated Other Comprehensive Income | Three Months Ended Affected Line Item in the Consolidated Condensed Statements of Income 2020 2019 Realized gains (losses) from sales of debt securities, available-for-sale $ 221 (18 ) Net gains (losses) from sales of debt securities, available-for-sale Income tax expense (benefit) 46 (4 ) Provision for income taxes Reclassification adjustment, net of taxes $ 175 (14 ) |
Retirement Plans (Tables)
Retirement Plans (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Retirement Benefits [Abstract] | |
Summary of Funding and Administrative Cost of Qualified Noncontributory Defined Benefit Retirement Plan and 401(k) Plan Charged to Salaries and Employee Benefits | Funding and administrative costs of the qualified noncontributory defined benefit retirement plan and 401(k) plan charged to pension and other employee benefits in the consolidated condensed statements of income for the three -month period ended March 31, 2020 and 2019 were as follows (in thousands): Three Months Ended 2020 2019 Qualified noncontributory defined benefit retirement plan $ 270 256 401(k) plan 165 143 |
Components of Net Periodic Pension Cost of Nonqualified Defined Benefit Retirement Plan | The components of net periodic pension cost of the nonqualified defined benefit retirement plan for the three months ended March 31, 2020 and 2019 are summarized as follows (in thousands): Three Months Ended 2020 2019 Service cost $ — — Interest cost 16 18 Amortization of unrecognized net loss — — Net periodic pension cost $ 16 18 |
Amount Recognized in Accumulated Other Comprehensive Income, Net of Deferred Federal Income Taxes for Nonqualified Defined Retirement Plan | Amounts recognized in accumulated other comprehensive income (loss), net of tax, at March 31, 2020 and December 31, 2019 for the nonqualified defined benefit retirement plan consists of (in thousands): March 31, 2020 December 31, 2019 Net actuarial loss $ 184 184 Past service cost — — Total recognized, net of tax $ 184 184 |
Stock Based Compensation (Table
Stock Based Compensation (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Share-based Payment Arrangement [Abstract] | |
Summary of Stock Options Outstanding | Stock options outstanding at March 31, 2020 were as follows: Outstanding Stock Options Exercisable Stock Options Exercise Price Range Number Weighted Average Exercise Price Weighted Average Remaining Contractual Life (Years) Number Weighted Average Exercise Price Weighted Average Remaining Contractual Life (Years) $11.00 - $12.99 311 $ 12.60 1.9 311 $ 12.60 1.9 |
Summary of Stock Option Activity | he following table summarizes stock option activity for the periods indicated: Three Months Ended March 31, 2020 2019 Options Weighted Average Exercise Price Aggregate Intrinsic Value (in thousands) (1) Options Weighted Average Exercise Price Aggregate Intrinsic Value (in thousands) (1) Outstanding, January 1, 9,904 $ 11.96 13,278 $ 11.98 Granted — — — — Exercised (9,593 ) 11.94 — — Expired — — — — Outstanding, March 31, 311 12.60 — 13,278 11.98 68,593 Exercisable, March 31, 311 12.60 — 13,278 11.98 68,593 (1) Aggregate Intrinsic Value is defined as the amount by which the current market value of the underlying stock exceeds the exercise price of the option. |
Summary of Restricted Stock Awards Activity | Restricted stock awards granted under the 2015 Plan were as follows: 2020 2019 Weighted Average Grant Date Fair Value Weighted Average Grant Date Fair Value Outstanding, January 1, 17,752 $ 18.03 16,958 $ 18.94 Granted 19,211 16.87 12,504 16.95 Vested (3,818 ) 18.45 (2,795 ) 20.01 Forfeited (3,550 ) 16.90 — — Outstanding, March 31, 29,595 $ 17.37 26,667 $ 17.89 |
Schedule of Information Related to Stock Options Exercised | The following table provides information related to stock options exercised during the periods indicated (in thousands): Three Months Ended March 31, 2020 2019 Intrinsic value of options exercised $ 46 — Cash received from options exercised 115 — Tax benefit realized from options exercised 5 — |
Earnings Per Common Share (Tabl
Earnings Per Common Share (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Earnings Per Share [Abstract] | |
Computations of Earnings per Common Share | Earnings per share for the three months ended March 31, 2020 and 2019 were calculated as follows (dollars in thousands, except share and per share data): Three Months Ended 2020 2019 Net income $ 5,026 4,627 Less allocation of earnings and dividends to participating securities 11 8 Net income allocated to common shareholders $ 5,015 4,619 Weighted average common shares outstanding, gross 12,955,672 13,307,865 Less average participating securities 29,595 24,231 Weighted average number of shares outstanding used in the calculation of basic earnings per common share 12,926,077 13,283,634 Add dilutive effect of: Stock options 1,589 3,704 Adjusted weighted average number of shares outstanding used in the calculation of diluted earnings per common share 12,927,666 13,287,338 Earnings per common share: Basic $ 0.39 0.35 Diluted 0.39 0.35 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Fair Value Disclosures [Abstract] | |
Summary of Valuation of LCNB's Assets Recorded at Fair Value by Inputs Level | The following table summarizes the valuation of LCNB's assets recorded at fair value by input levels as of March 31, 2020 and December 31, 2019 (in thousands): Fair Value Measurements at the End of the Reporting Period Using Fair Value Measurements Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) March 31, 2020 Recurring fair value measurements: Equity securities with a readily determinable fair value: Equity securities $ 675 675 — — Mutual funds 34 34 — — Mutual funds measured at net asset value 1,327 1,327 — — Debt securities, available-for-sale: U.S. Treasury notes 2,409 2,409 — — U.S. Agency notes 22,703 — 22,703 — U.S. Agency mortgage-backed securities 82,685 — 82,685 — Municipal securities: Non-taxable 13,368 — 13,368 — Taxable 20,274 — 20,274 — Total recurring fair value measurements $ 143,475 4,445 139,030 — Nonrecurring fair value measurements: Impaired loans $ 1,352 — — 1,352 Other real estate owned and repossessed assets — — — — Total nonrecurring fair value measurements $ 1,352 — — 1,352 December 31, 2019 Recurring fair value measurements: Equity securities with a readily determinable fair value: Equity securities $ 967 967 — — Mutual funds 45 45 — — Mutual funds measured at net asset value 1,300 1,300 — — Debt securities, available-for-sale: U.S. Treasury notes 2,309 2,309 — — U.S. Agency notes 48,984 — 48,984 — U.S. Agency mortgage-backed securities 84,406 — 84,406 — Municipal securities: Non-taxable 22,321 — 22,321 — Taxable 19,980 — 19,980 — Total recurring fair value measurements $ 180,312 4,621 175,691 — Nonrecurring fair value measurements: Impaired loans $ 2,840 — — 2,840 Other real estate owned and repossessed assets 197 — — 197 Total nonrecurring fair value measurements $ 3,037 — — 3,037 |
Fair Value Measurements Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques | The following table presents quantitative information about unobservable inputs used in nonrecurring level 3 fair value measurements at March 31, 2020 and December 31, 2019 (dollars in thousands): Range Fair Value Valuation Technique Unobservable Inputs High Low Weighted Average March 31, 2020 Impaired loans $ 728 Estimated sales price Adjustments for comparable properties, discounts to reflect current market conditions Not applicable 624 Discounted cash flows Discount rate 8.25 % 4.50 % 6.66 % Other real estate owned — Estimated sales price Adjustments for comparable properties, discounts to reflect current market conditions Not applicable December 31, 2019 Impaired loans $ 1,931 Estimated sales price Adjustments for comparable properties, discounts to reflect current market conditions Not applicable 909 Discounted cash flows Discount rate 8.25 % 4.50 % 6.83 % Other real estate owned 197 Estimated sales price Adjustments for comparable properties, discounts to reflect current market conditions Not applicable |
Carrying Amounts and Estimated Fair Values of Financial Instruments | Carrying amounts and estimated fair values of financial instruments as of March 31, 2020 and December 31, 2019 were as follows (in thousands): Fair Value Measurements at the End of Carrying Amount Fair Value Quoted Significant Other Observable Inputs Significant Unobservable Inputs March 31, 2020 FINANCIAL ASSETS: Cash and cash equivalents $ 24,795 24,795 24,795 — — Debt securities, held-to-maturity 27,694 28,019 — — 28,019 Federal Reserve Bank stock 4,652 4,652 4,652 — — Federal Home Loan Bank stock 5,203 5,203 5,203 — — Loans, net 1,267,379 1,280,021 — — 1,280,021 Accrued interest receivable 4,462 4,462 — 4,462 — FINANCIAL LIABILITIES: Deposits 1,345,872 1,351,382 1,028,564 322,818 — Short-term borrowings — — — — Long-term debt 35,996 37,008 — 37,008 — Accrued interest payable 575 575 — 575 — December 31, 2019 FINANCIAL ASSETS: Cash and cash equivalents $ 20,765 20,765 20,765 — — Debt securities, held-to-maturity 27,525 27,888 — — 27,888 Federal Reserve Bank stock 4,652 4,652 4,652 — — Federal Home Loan Bank stock 5,203 5,203 5,203 — — Loans, net 1,239,406 1,252,156 — — 1,252,156 Accrued interest receivable 3,911 3,911 — 3,911 — FINANCIAL LIABILITIES: Deposits 1,348,280 1,352,061 1,004,057 348,004 — Short-term borrowings — — — — — Long-term debt 40,994 41,487 — 41,487 — Accrued interest payable 705 705 — 705 — |
Acquisition (Details)
Acquisition (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Business Acquisition, Equity Interests Issued or Issuable [Line Items] | ||
Assets | $ 1,636,280 | $ 1,639,308 |
Interest-bearing demand deposits | 6,975 | 3,746 |
Liabilities | 1,402,802 | 1,411,260 |
Deposits | 1,345,872 | 1,348,280 |
Goodwill | $ 59,221 | $ 59,221 |
Investment Securities, Amortize
Investment Securities, Amortized Cost and Fair Value (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Debt Securities, Available-for-Sale: | ||
Amortized Cost | $ 137,212 | $ 176,915 |
Unrealized Gains | 4,239 | 1,411 |
Unrealized Losses | 12 | 326 |
Fair Value | 141,439 | 178,000 |
Debt Securities, Held-to-Maturity: | ||
Amortized Cost | 27,694 | 27,525 |
Unrealized Gains | 482 | 368 |
Unrealized Losses | 157 | 5 |
Fair Value | 28,019 | 27,888 |
Equity Securities, Amortized Cost Basis | 2,063 | 2,112 |
Equity securities with a readily determinable fair value, at fair value | 2,036 | 2,312 |
U.S. Treasury notes [Member] | ||
Debt Securities, Available-for-Sale: | ||
Amortized Cost | 2,272 | 2,273 |
Unrealized Gains | 137 | 36 |
Unrealized Losses | 0 | 0 |
Fair Value | 2,409 | 2,309 |
U.S. Agency notes [Member] | ||
Debt Securities, Available-for-Sale: | ||
Amortized Cost | 21,882 | 48,745 |
Unrealized Gains | 821 | 273 |
Unrealized Losses | 0 | 34 |
Fair Value | 22,703 | 48,984 |
U.S. Agency mortgage-backed securities [Member] | ||
Debt Securities, Available-for-Sale: | ||
Amortized Cost | 80,072 | 83,977 |
Unrealized Gains | 2,613 | 672 |
Unrealized Losses | 0 | 243 |
Fair Value | 82,685 | 84,406 |
Debt Securities, Held-to-Maturity: | ||
Amortized Cost | 0 | |
Fair Value | 0 | |
Non-taxable Municipal securities [Member] | ||
Debt Securities, Available-for-Sale: | ||
Amortized Cost | 13,254 | 22,174 |
Unrealized Gains | 118 | 161 |
Unrealized Losses | 4 | 14 |
Fair Value | 13,368 | 22,321 |
Debt Securities, Held-to-Maturity: | ||
Amortized Cost | 24,189 | 24,300 |
Unrealized Gains | 480 | 343 |
Unrealized Losses | 21 | 5 |
Fair Value | 24,648 | 24,638 |
Taxable Municipal securities [Member] | ||
Debt Securities, Available-for-Sale: | ||
Amortized Cost | 19,732 | 19,746 |
Unrealized Gains | 550 | 269 |
Unrealized Losses | 8 | 35 |
Fair Value | 20,274 | 19,980 |
Debt Securities, Held-to-Maturity: | ||
Amortized Cost | 3,505 | 3,225 |
Unrealized Gains | 2 | 25 |
Unrealized Losses | 136 | 0 |
Fair Value | $ 3,371 | $ 3,250 |
Investment Securities, Continuo
Investment Securities, Continuous Unrealized Loss Position (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Available-for-Sale: | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | $ 1,514 | $ 21,839 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 12 | 58 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 60 | 32,879 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | 268 |
Held-to-Maturity: | ||
Less than 12 Months, Fair Value | 5,231 | 54 |
Less than 12 Months, Unrealized Losses | 152 | 0 |
12 Months or More, Fair Value | 1,790 | 2,660 |
12 Months or More, Unrealized Losses | 5 | 5 |
U.S. Agency notes [Member] | ||
Available-for-Sale: | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 3,586 | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 11 | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 11,939 | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 23 | |
U.S. Agency mortgage-backed securities [Member] | ||
Available-for-Sale: | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 0 | 10,555 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | 10 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 60 | 19,233 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | 233 |
Non-taxable Municipal securities [Member] | ||
Available-for-Sale: | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 646 | 2,631 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 4 | 2 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 0 | 1,257 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | 12 |
Held-to-Maturity: | ||
Less than 12 Months, Fair Value | 2,142 | 54 |
Less than 12 Months, Unrealized Losses | 16 | 0 |
12 Months or More, Fair Value | 1,790 | 2,660 |
12 Months or More, Unrealized Losses | 5 | 5 |
Taxable Municipal securities [Member] | ||
Available-for-Sale: | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 868 | 5,067 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 8 | 35 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 0 | 450 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | $ 0 |
Held-to-Maturity: | ||
Less than 12 Months, Fair Value | 3,089 | |
Less than 12 Months, Unrealized Losses | 136 | |
12 Months or More, Fair Value | 0 | |
12 Months or More, Unrealized Losses | $ 0 |
Investment Securities, Maturiti
Investment Securities, Maturities (Details) - USD ($) | Mar. 31, 2020 | Dec. 31, 2019 |
Available-for-Sale, Amortized Cost | ||
Due within one year | $ 11,145,000 | |
Due from one to five years | 26,964,000 | |
Due from five to ten years | 19,031,000 | |
Due after ten years | 0 | |
Amortized Cost Basis | 57,140,000 | |
Amortized Cost | 137,212,000 | $ 176,915,000 |
Available-for-Sale, Fair Value | ||
Due within one year | 11,198,000 | |
Due from one to five years | 27,677,000 | |
Due from five to ten years | 19,879,000 | |
Due after ten years | 0 | |
Total available-for-sale, maturities | 58,754,000 | |
Fair Value | 141,439,000 | 178,000,000 |
Held-to-Maturity, Amortized Cost | ||
Due within one year | 2,472,000 | |
Due from one to five years | 7,349,000 | |
Due from five to ten years | 2,260,000 | |
Due after ten years | 15,613,000 | |
Amortized Cost | 27,694,000 | 27,525,000 |
Held-to-Maturity, Fair Value | ||
Due within one year | 2,473,000 | |
Due from one to five years | 7,365,000 | |
Due from five to ten years | 2,282,000 | |
Due after ten years | 15,899,000 | |
Held-to-maturity, fair value | 28,019,000 | 27,888,000 |
Available-for-sale securities pledged as collateral | 124,314,000 | 123,009,000 |
U.S. Agency mortgage-backed securities [Member] | ||
Available-for-Sale, Amortized Cost | ||
Amortized Cost | 80,072,000 | 83,977,000 |
Available-for-Sale, Fair Value | ||
Fair Value | 82,685,000 | $ 84,406,000 |
Held-to-Maturity, Amortized Cost | ||
Amortized Cost | 0 | |
Held-to-Maturity, Fair Value | ||
Held-to-maturity, fair value | $ 0 |
Investment Securities, Equity S
Investment Securities, Equity Securities Changes in Fair Value Recognized in Net Income (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2019 | |
Debt and Equity Securities, FV-NI [Line Items] | |||
Net realized gains (losses) on equity securities sold | $ 559 | $ (6) | |
Net gains recognized | 333 | 93 | |
Equity Securities, Amortized Cost Basis | 2,063 | $ 2,112 | |
Equity securities with a readily determinable fair value, at fair value | 2,036 | $ 2,312 | |
Unrealized gains (losses) recognized and still held at period end | $ (226) | $ 99 |
Investment Securities Schedule
Investment Securities Schedule of debt securities with a market value (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Investments, Debt and Equity Securities [Abstract] | ||
Proceeds from sales of debt securities, available-for-sale | $ 8,786 | $ 21,806 |
Gross realized gains | 221 | 58 |
Gross realized losses | $ 0 | $ 76 |
Loans, Major Classifications of
Loans, Major Classifications of Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, gross | $ 1,272,736 | $ 1,243,726 |
Unamortized Loan Commitment and Origination Fees and Unamortized Discounts or Premiums | (349) | (275) |
Loans gross | 1,272,387 | 1,243,451 |
Less allowance for loan losses | 5,008 | 4,045 |
Total | 1,267,379 | 1,239,406 |
Commercial and industrial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, gross | 85,356 | 78,306 |
Loans gross | 85,434 | 78,371 |
Commercial, secured by real estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, gross | 829,461 | 804,953 |
Loans gross | 828,580 | 804,154 |
Residential real estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, gross | 318,009 | 322,533 |
Loans gross | 318,319 | 322,855 |
Consumer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, gross | 28,955 | 25,232 |
Loans gross | 29,083 | 25,355 |
Agricultural [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, gross | 10,519 | 11,509 |
Loans gross | 10,535 | 11,523 |
Other loans, including deposit overdrafts [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, gross | 436 | 1,193 |
Loans gross | $ 436 | $ 1,193 |
Loans, Additional Information (
Loans, Additional Information (Details) - USD ($) | 3 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2019 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Troubled debt restructurings that subsequently defaulted within 12 months of the restructuring date | $ 0 | ||
Mortgage loans secured by residential real estate that were in the process of foreclosure | $ 224,000,000 | ||
Federal Home Loan Mortgage Corporation and Other Investors [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of loans serviced for others | $ 94,805,000,000 | $ 93,596,000,000 | |
Commercial and industrial [Member] | Minimum [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Maturity Period | 1 year | ||
Commercial and industrial [Member] | Maximum [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Maturity Period | 10 years | ||
Commercial, secured by real estate [Member] | Minimum [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Adjustable rate period | 1 year | ||
Amortization period | 5 years | ||
Balloon payments period | 1 year | ||
Loan to appraised value ratio | 75.00% | ||
Commercial, secured by real estate [Member] | Maximum [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Adjustable rate period | 10 years | ||
Amortization period | 25 years | ||
Balloon payments period | 10 years | ||
Loan to appraised value ratio | 85.00% | ||
Residential real estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Home equity line of credit draw period | 5 years | ||
Residential real estate [Member] | Minimum [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Adjustable rate period | 1 year | ||
Amortization period | 5 years | ||
Loan to appraised value ratio | 80.00% | ||
Residential real estate [Member] | Maximum [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Adjustable rate period | 10 years | ||
Amortization period | 30 years | ||
Consumer [Member] | Maximum [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Amortization period | 72 months |
Loans, Past Due And Accruing Re
Loans, Past Due And Accruing Restructured (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Financing receivables, non accruals, past due, and accruing restructured loans [Line Items] | ||
Total non-accrual loans | $ 2,829 | $ 3,210 |
Past-due 90 days or more and still accruing | 39 | 0 |
Total non-accrual and past-due 90 days or more and still accruing | 2,868 | 3,210 |
Accruing restructured loans | 4,126 | 6,609 |
Total | 6,994 | 9,819 |
Commercial Secured By Real Estate [Member] | ||
Financing receivables, non accruals, past due, and accruing restructured loans [Line Items] | ||
Total non-accrual loans | 2,172 | 2,467 |
Residential Real Estate [Member] | ||
Financing receivables, non accruals, past due, and accruing restructured loans [Line Items] | ||
Total non-accrual loans | $ 657 | $ 743 |
Loans, Allowance for Loan Losse
Loans, Allowance for Loan Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Allowance for loan losses [Roll Forward] | ||
Balance, beginning of period | $ 4,045 | $ 4,046 |
Provision charged to expenses | 1,173 | (105) |
Losses charged off | (321) | (64) |
Recoveries | 111 | 249 |
Balance, end of period | 5,008 | 4,126 |
Commercial and industrial [Member] | ||
Allowance for loan losses [Roll Forward] | ||
Balance, beginning of period | 456 | 400 |
Provision charged to expenses | 159 | 51 |
Losses charged off | 0 | 0 |
Recoveries | 18 | 0 |
Balance, end of period | 633 | 451 |
Commercial Secured By Real Estate [Member] | ||
Allowance for loan losses [Roll Forward] | ||
Balance, beginning of period | 2,924 | 2,745 |
Provision charged to expenses | 920 | 57 |
Losses charged off | (270) | 0 |
Recoveries | 0 | 56 |
Balance, end of period | 3,574 | 2,858 |
Residential Real Estate [Member] | ||
Allowance for loan losses [Roll Forward] | ||
Balance, beginning of period | 528 | 767 |
Provision charged to expenses | 31 | (195) |
Losses charged off | (3) | (33) |
Recoveries | 73 | 154 |
Balance, end of period | 629 | 693 |
Consumer [Member] | ||
Allowance for loan losses [Roll Forward] | ||
Balance, beginning of period | 99 | 87 |
Provision charged to expenses | 41 | (31) |
Losses charged off | (12) | 0 |
Recoveries | 1 | 21 |
Balance, end of period | 129 | 77 |
Agricultural [Member] | ||
Allowance for loan losses [Roll Forward] | ||
Balance, beginning of period | 34 | 46 |
Provision charged to expenses | 5 | (5) |
Losses charged off | 0 | 0 |
Recoveries | 0 | 0 |
Balance, end of period | 39 | 41 |
Other [Member] | ||
Allowance for loan losses [Roll Forward] | ||
Balance, beginning of period | 4 | 1 |
Provision charged to expenses | 17 | 18 |
Losses charged off | (36) | (31) |
Recoveries | 19 | 18 |
Balance, end of period | $ 4 | $ 6 |
Loans, Allowance for Loan Los_2
Loans, Allowance for Loan Losses and Loan Portfolio by Segment (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 | Mar. 31, 2019 | Dec. 31, 2018 |
Allowance for loan losses: | ||||
Individually evaluated for impairment | $ 34 | $ 295 | ||
Collectively evaluated for impairment | 4,974 | 3,750 | ||
Acquired credit impaired loans | 0 | 0 | ||
Balance, end of period | 5,008 | 4,045 | $ 4,126 | $ 4,046 |
Loans: | ||||
Individually evaluated for impairment | 7,248 | 8,638 | ||
Collectively evaluated for impairment | 1,259,024 | 1,227,590 | ||
Acquired credit impaired loans | 6,115 | 7,223 | ||
Loans gross | 1,272,387 | 1,243,451 | ||
Financial Asset Acquired with Credit Deterioration [Member] | ||||
Loans: | ||||
Acquired credit impaired loans | 6,115 | 7,223 | ||
Commercial and industrial [Member] | ||||
Allowance for loan losses: | ||||
Individually evaluated for impairment | 22 | 6 | ||
Collectively evaluated for impairment | 611 | 450 | ||
Acquired credit impaired loans | 0 | 0 | ||
Balance, end of period | 633 | 456 | 451 | 400 |
Loans: | ||||
Individually evaluated for impairment | 956 | 230 | ||
Collectively evaluated for impairment | 83,916 | 77,430 | ||
Loans gross | 85,434 | 78,371 | ||
Commercial and industrial [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||||
Loans: | ||||
Acquired credit impaired loans | 562 | 711 | ||
Commercial Secured By Real Estate [Member] | ||||
Allowance for loan losses: | ||||
Individually evaluated for impairment | 0 | 272 | ||
Collectively evaluated for impairment | 3,574 | 2,652 | ||
Acquired credit impaired loans | 0 | 0 | ||
Balance, end of period | 3,574 | 2,924 | 2,858 | 2,745 |
Loans: | ||||
Individually evaluated for impairment | 5,355 | 7,432 | ||
Collectively evaluated for impairment | 820,535 | 793,191 | ||
Loans gross | 828,580 | 804,154 | ||
Commercial Secured By Real Estate [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||||
Loans: | ||||
Acquired credit impaired loans | 2,690 | 3,531 | ||
Residential Real Estate [Member] | ||||
Allowance for loan losses: | ||||
Individually evaluated for impairment | 12 | 17 | ||
Collectively evaluated for impairment | 617 | 511 | ||
Acquired credit impaired loans | 0 | 0 | ||
Balance, end of period | 629 | 528 | 693 | 767 |
Loans: | ||||
Individually evaluated for impairment | 924 | 949 | ||
Collectively evaluated for impairment | 314,802 | 319,188 | ||
Loans gross | 318,319 | 322,855 | ||
Residential Real Estate [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||||
Loans: | ||||
Acquired credit impaired loans | 2,593 | 2,718 | ||
Consumer [Member] | ||||
Allowance for loan losses: | ||||
Individually evaluated for impairment | 0 | 0 | ||
Collectively evaluated for impairment | 129 | 99 | ||
Acquired credit impaired loans | 0 | 0 | ||
Balance, end of period | 129 | 99 | 77 | 87 |
Loans: | ||||
Individually evaluated for impairment | 13 | 27 | ||
Collectively evaluated for impairment | 29,070 | 25,328 | ||
Loans gross | 29,083 | 25,355 | ||
Consumer [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||||
Loans: | ||||
Acquired credit impaired loans | 0 | 0 | ||
Agricultural [Member] | ||||
Allowance for loan losses: | ||||
Individually evaluated for impairment | 0 | 0 | ||
Collectively evaluated for impairment | 39 | 34 | ||
Acquired credit impaired loans | 0 | 0 | ||
Balance, end of period | 39 | 34 | 41 | 46 |
Loans: | ||||
Individually evaluated for impairment | 0 | 0 | ||
Collectively evaluated for impairment | 10,535 | 11,523 | ||
Loans gross | 10,535 | 11,523 | ||
Agricultural [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||||
Loans: | ||||
Acquired credit impaired loans | 0 | 0 | ||
Other [Member] | ||||
Allowance for loan losses: | ||||
Individually evaluated for impairment | 0 | 0 | ||
Collectively evaluated for impairment | 4 | 4 | ||
Acquired credit impaired loans | 0 | 0 | ||
Balance, end of period | 4 | 4 | $ 6 | $ 1 |
Loans: | ||||
Individually evaluated for impairment | 0 | 0 | ||
Collectively evaluated for impairment | 166 | 930 | ||
Loans gross | 436 | 1,193 | ||
Other [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||||
Loans: | ||||
Acquired credit impaired loans | $ 270 | $ 263 |
Loans, Loans Portfolio by Credi
Loans, Loans Portfolio by Credit Quality Indicators (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans, net of deferred origination costs (fees) | $ 1,272,387 | $ 1,243,451 |
Commercial and industrial [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans, net of deferred origination costs (fees) | 85,434 | 78,371 |
Commercial, secured by real estate [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans, net of deferred origination costs (fees) | 828,580 | 804,154 |
Residential real estate [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans, net of deferred origination costs (fees) | 318,319 | 322,855 |
Consumer [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans, net of deferred origination costs (fees) | 29,083 | 25,355 |
Agricultural [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans, net of deferred origination costs (fees) | 10,535 | 11,523 |
Other [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans, net of deferred origination costs (fees) | 436 | 1,193 |
Pass [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans, net of deferred origination costs (fees) | 1,253,111 | 1,222,688 |
Pass [Member] | Commercial and industrial [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans, net of deferred origination costs (fees) | 83,816 | 76,236 |
Pass [Member] | Commercial, secured by real estate [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans, net of deferred origination costs (fees) | 815,998 | 789,319 |
Pass [Member] | Residential real estate [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans, net of deferred origination costs (fees) | 313,270 | 319,075 |
Pass [Member] | Consumer [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans, net of deferred origination costs (fees) | 29,078 | 25,342 |
Pass [Member] | Agricultural [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans, net of deferred origination costs (fees) | 10,513 | 11,523 |
Pass [Member] | Other [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans, net of deferred origination costs (fees) | 436 | 1,193 |
OAEM [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans, net of deferred origination costs (fees) | 4,262 | 3,507 |
OAEM [Member] | Commercial and industrial [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans, net of deferred origination costs (fees) | 0 | 233 |
OAEM [Member] | Commercial, secured by real estate [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans, net of deferred origination costs (fees) | 2,467 | 3,007 |
OAEM [Member] | Residential real estate [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans, net of deferred origination costs (fees) | 1,795 | 267 |
OAEM [Member] | Consumer [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans, net of deferred origination costs (fees) | 0 | 0 |
OAEM [Member] | Agricultural [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans, net of deferred origination costs (fees) | 0 | 0 |
OAEM [Member] | Other [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans, net of deferred origination costs (fees) | 0 | 0 |
Substandard [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans, net of deferred origination costs (fees) | 15,014 | 17,256 |
Substandard [Member] | Commercial and industrial [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans, net of deferred origination costs (fees) | 1,618 | 1,902 |
Substandard [Member] | Commercial, secured by real estate [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans, net of deferred origination costs (fees) | 10,115 | 11,828 |
Substandard [Member] | Residential real estate [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans, net of deferred origination costs (fees) | 3,254 | 3,513 |
Substandard [Member] | Consumer [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans, net of deferred origination costs (fees) | 5 | 13 |
Substandard [Member] | Agricultural [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans, net of deferred origination costs (fees) | 22 | 0 |
Substandard [Member] | Other [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans, net of deferred origination costs (fees) | 0 | 0 |
Doubtful [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans, net of deferred origination costs (fees) | 0 | 0 |
Doubtful [Member] | Commercial and industrial [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans, net of deferred origination costs (fees) | 0 | 0 |
Doubtful [Member] | Commercial, secured by real estate [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans, net of deferred origination costs (fees) | 0 | 0 |
Doubtful [Member] | Residential real estate [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans, net of deferred origination costs (fees) | 0 | 0 |
Doubtful [Member] | Consumer [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans, net of deferred origination costs (fees) | 0 | 0 |
Doubtful [Member] | Agricultural [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans, net of deferred origination costs (fees) | 0 | 0 |
Doubtful [Member] | Other [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans, net of deferred origination costs (fees) | $ 0 | $ 0 |
Loans, Loans Portfolio Aging An
Loans, Loans Portfolio Aging Analysis (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | $ 6,320 | $ 5,015 |
Current | 1,266,067 | 1,238,436 |
Total Loans Receivable | 1,272,387 | 1,243,451 |
Total Loans Greater Than 90 Days and Accruing | 39 | 0 |
30-59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 4,232 | 3,152 |
60-89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 535 | 269 |
Greater Than 90 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 1,553 | 1,594 |
Commercial and industrial [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 1,465 | 283 |
Current | 83,969 | 78,088 |
Total Loans Receivable | 85,434 | 78,371 |
Total Loans Greater Than 90 Days and Accruing | 0 | 0 |
Commercial and industrial [Member] | 30-59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 1,465 | 283 |
Commercial and industrial [Member] | 60-89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Commercial and industrial [Member] | Greater Than 90 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Commercial, secured by real estate [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 1,864 | 1,510 |
Current | 826,716 | 802,644 |
Total Loans Receivable | 828,580 | 804,154 |
Total Loans Greater Than 90 Days and Accruing | 0 | 0 |
Commercial, secured by real estate [Member] | 30-59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 261 | 339 |
Commercial, secured by real estate [Member] | 60-89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 511 | 0 |
Commercial, secured by real estate [Member] | Greater Than 90 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 1,092 | 1,171 |
Residential real estate [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 2,882 | 2,256 |
Current | 315,437 | 320,599 |
Total Loans Receivable | 318,319 | 322,855 |
Total Loans Greater Than 90 Days and Accruing | 39 | 0 |
Residential real estate [Member] | 30-59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 2,398 | 1,573 |
Residential real estate [Member] | 60-89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 23 | 260 |
Residential real estate [Member] | Greater Than 90 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 461 | 423 |
Consumer [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 20 | 36 |
Current | 29,063 | 25,319 |
Total Loans Receivable | 29,083 | 25,355 |
Total Loans Greater Than 90 Days and Accruing | 0 | 0 |
Consumer [Member] | 30-59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 19 | 27 |
Consumer [Member] | 60-89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 1 | 9 |
Consumer [Member] | Greater Than 90 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Agricultural [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 22 | 0 |
Current | 10,513 | 11,523 |
Total Loans Receivable | 10,535 | 11,523 |
Total Loans Greater Than 90 Days and Accruing | 0 | 0 |
Agricultural [Member] | 30-59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 22 | 0 |
Agricultural [Member] | 60-89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Agricultural [Member] | Greater Than 90 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Other [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 67 | 930 |
Current | 369 | 263 |
Total Loans Receivable | 436 | 1,193 |
Total Loans Greater Than 90 Days and Accruing | 0 | 0 |
Other [Member] | 30-59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 67 | 930 |
Other [Member] | 60-89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Other [Member] | Greater Than 90 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total Past Due | $ 0 | $ 0 |
Loans, Impaired Loans (Details)
Loans, Impaired Loans (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2019 | |
Recorded Investment | |||
With no related allowance recorded | $ 11,977 | $ 12,727 | |
With an allowance recorded | 1,386 | 3,134 | |
Total | 13,363 | 15,861 | |
Unpaid Principal Balance | |||
With no related allowance recorded | 13,376 | 14,679 | |
With an allowance recorded | 1,387 | 3,286 | |
Total | 14,763 | 17,965 | |
Related Allowance | |||
With an allowance recorded | 34 | 295 | |
Average Recorded Investment | |||
With no related allowance recorded | 14,033 | $ 23,338 | |
With an allowance recorded | 1,278 | 1,147 | |
Total | 15,311 | 24,485 | |
Interest Income Recognized | |||
With no related allowance recorded | 707 | 262 | |
With an allowance recorded | 17 | 24 | |
Total | 724 | 286 | |
Cash basis interest expense on impaired loans | 10,000 | 0 | |
Commercial and industrial [Member] | |||
Recorded Investment | |||
With no related allowance recorded | 562 | 711 | |
With an allowance recorded | 956 | 230 | |
Total | 1,518 | 941 | |
Unpaid Principal Balance | |||
With no related allowance recorded | 862 | 1,253 | |
With an allowance recorded | 956 | 235 | |
Total | 1,818 | 1,488 | |
Related Allowance | |||
With an allowance recorded | 22 | 6 | |
Average Recorded Investment | |||
With no related allowance recorded | 637 | 767 | |
With an allowance recorded | 839 | 259 | |
Total | 1,476 | 1,026 | |
Interest Income Recognized | |||
With no related allowance recorded | 264 | 7 | |
With an allowance recorded | 10 | 4 | |
Total | 274 | 11 | |
Commercial, secured by real estate [Member] | |||
Recorded Investment | |||
With no related allowance recorded | 7,951 | 8,625 | |
With an allowance recorded | 94 | 2,338 | |
Total | 8,045 | 10,963 | |
Unpaid Principal Balance | |||
With no related allowance recorded | 8,459 | 9,373 | |
With an allowance recorded | 95 | 2,485 | |
Total | 8,554 | 11,858 | |
Related Allowance | |||
With an allowance recorded | 0 | 272 | |
Average Recorded Investment | |||
With no related allowance recorded | 9,823 | 18,302 | |
With an allowance recorded | 95 | 244 | |
Total | 9,918 | 18,546 | |
Interest Income Recognized | |||
With no related allowance recorded | 344 | 199 | |
With an allowance recorded | 2 | 12 | |
Total | 346 | 211 | |
Residential real estate [Member] | |||
Recorded Investment | |||
With no related allowance recorded | 3,185 | 3,118 | |
With an allowance recorded | 332 | 549 | |
Total | 3,517 | 3,667 | |
Unpaid Principal Balance | |||
With no related allowance recorded | 3,655 | 3,651 | |
With an allowance recorded | 332 | 549 | |
Total | 3,987 | 4,200 | |
Related Allowance | |||
With an allowance recorded | 12 | 17 | |
Average Recorded Investment | |||
With no related allowance recorded | 3,289 | 3,916 | |
With an allowance recorded | 339 | 622 | |
Total | 3,628 | 4,538 | |
Interest Income Recognized | |||
With no related allowance recorded | 92 | 47 | |
With an allowance recorded | 5 | 8 | |
Total | 97 | 55 | |
Consumer [Member] | |||
Recorded Investment | |||
With no related allowance recorded | 9 | 10 | |
With an allowance recorded | 4 | 17 | |
Total | 13 | 27 | |
Unpaid Principal Balance | |||
With no related allowance recorded | 9 | 10 | |
With an allowance recorded | 4 | 17 | |
Total | 13 | 27 | |
Related Allowance | |||
With an allowance recorded | 0 | 0 | |
Average Recorded Investment | |||
With no related allowance recorded | 18 | 13 | |
With an allowance recorded | 5 | 22 | |
Total | 23 | 35 | |
Interest Income Recognized | |||
With no related allowance recorded | 0 | 0 | |
With an allowance recorded | 0 | 0 | |
Total | 0 | 0 | |
Agricultural [Member] | |||
Recorded Investment | |||
With no related allowance recorded | 0 | 0 | |
With an allowance recorded | 0 | 0 | |
Total | 0 | 0 | |
Unpaid Principal Balance | |||
With no related allowance recorded | 0 | 0 | |
With an allowance recorded | 0 | 0 | |
Total | 0 | 0 | |
Related Allowance | |||
With an allowance recorded | 0 | 0 | |
Average Recorded Investment | |||
With no related allowance recorded | 0 | 0 | |
With an allowance recorded | 0 | 0 | |
Total | 0 | 0 | |
Interest Income Recognized | |||
With no related allowance recorded | 0 | 0 | |
With an allowance recorded | 0 | 0 | |
Total | 0 | 0 | |
Other [Member] | |||
Recorded Investment | |||
With no related allowance recorded | 270 | 263 | |
With an allowance recorded | 0 | 0 | |
Total | 270 | 263 | |
Unpaid Principal Balance | |||
With no related allowance recorded | 391 | 392 | |
With an allowance recorded | 0 | 0 | |
Total | 391 | 392 | |
Related Allowance | |||
With an allowance recorded | 0 | $ 0 | |
Average Recorded Investment | |||
With no related allowance recorded | 266 | 340 | |
With an allowance recorded | 0 | 0 | |
Total | 266 | 340 | |
Interest Income Recognized | |||
With no related allowance recorded | 7 | 9 | |
With an allowance recorded | 0 | 0 | |
Total | $ 7 | $ 9 |
Loans, Troubled Debt Restructur
Loans, Troubled Debt Restructuring (Details) | 3 Months Ended | |
Mar. 31, 2020USD ($)Bank_Loan | Mar. 31, 2019USD ($)Bank_Loan | |
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Financing Receivable, Modifications, Number of Contracts | Bank_Loan | 1 | 4 |
Financing Receivable, Troubled Debt Restructuring, Premodification | $ 4,000 | $ 312,000 |
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 5,000 | 312,000 |
Loan modifications classified as troubled debt restructurings [Abstract] | ||
Troubled debt restructurings that subsequently defaulted within 12 months of the restructuring date | $ 0 | |
Commercial and industrial [Member] | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Financing Receivable, Modifications, Number of Contracts | Bank_Loan | 1 | 0 |
Financing Receivable, Troubled Debt Restructuring, Premodification | $ 4,000 | $ 0 |
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 5,000 | $ 0 |
Commercial, secured by real estate [Member] | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Financing Receivable, Modifications, Number of Contracts | Bank_Loan | 0 | 2 |
Financing Receivable, Troubled Debt Restructuring, Premodification | $ 0 | $ 258,000 |
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 0 | $ 258,000 |
Residential real estate [Member] | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Financing Receivable, Modifications, Number of Contracts | Bank_Loan | 0 | 2 |
Financing Receivable, Troubled Debt Restructuring, Premodification | $ 0 | $ 54,000 |
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 0 | $ 54,000 |
Loans Loans, Troubled Debt Rest
Loans Loans, Troubled Debt Restructuring, Modification Type (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 5 | $ 312 |
Commercial and industrial [Member] | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Financing Receivable, Troubled Debt Restructuring, Postmodification | 5 | 0 |
Commercial, secured by real estate [Member] | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Financing Receivable, Troubled Debt Restructuring, Postmodification | 0 | 258 |
Residential real estate [Member] | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Financing Receivable, Troubled Debt Restructuring, Postmodification | 0 | 54 |
Extended Maturity [Member] | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Financing Receivable, Troubled Debt Restructuring, Postmodification | 0 | 54 |
Extended Maturity [Member] | Commercial and industrial [Member] | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Financing Receivable, Troubled Debt Restructuring, Postmodification | 0 | |
Extended Maturity [Member] | Commercial, secured by real estate [Member] | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Financing Receivable, Troubled Debt Restructuring, Postmodification | 0 | |
Extended Maturity [Member] | Residential real estate [Member] | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Financing Receivable, Troubled Debt Restructuring, Postmodification | 54 | |
Contractual Interest Rate Reduction [Member] | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Financing Receivable, Troubled Debt Restructuring, Postmodification | 0 | 0 |
Contractual Interest Rate Reduction [Member] | Commercial and industrial [Member] | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Financing Receivable, Troubled Debt Restructuring, Postmodification | 0 | |
Contractual Interest Rate Reduction [Member] | Commercial, secured by real estate [Member] | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Financing Receivable, Troubled Debt Restructuring, Postmodification | 0 | |
Contractual Interest Rate Reduction [Member] | Residential real estate [Member] | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Financing Receivable, Troubled Debt Restructuring, Postmodification | 0 | |
Troubled Debt Restructurings, Interest Only Modification [Member] | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Financing Receivable, Troubled Debt Restructuring, Postmodification | 0 | 0 |
Troubled Debt Restructurings, Interest Only Modification [Member] | Commercial and industrial [Member] | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Financing Receivable, Troubled Debt Restructuring, Postmodification | 0 | |
Troubled Debt Restructurings, Interest Only Modification [Member] | Commercial, secured by real estate [Member] | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Financing Receivable, Troubled Debt Restructuring, Postmodification | 0 | |
Troubled Debt Restructurings, Interest Only Modification [Member] | Residential real estate [Member] | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Financing Receivable, Troubled Debt Restructuring, Postmodification | 0 | |
Principal Forgiveness [Member] | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Financing Receivable, Troubled Debt Restructuring, Postmodification | 0 | 0 |
Principal Forgiveness [Member] | Commercial and industrial [Member] | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Financing Receivable, Troubled Debt Restructuring, Postmodification | 0 | |
Principal Forgiveness [Member] | Commercial, secured by real estate [Member] | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Financing Receivable, Troubled Debt Restructuring, Postmodification | 0 | |
Principal Forgiveness [Member] | Residential real estate [Member] | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Financing Receivable, Troubled Debt Restructuring, Postmodification | 0 | |
Troubled Debt Restructurings, Combination Modification [Member] | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Financing Receivable, Troubled Debt Restructuring, Postmodification | 5 | 258 |
Troubled Debt Restructurings, Combination Modification [Member] | Commercial and industrial [Member] | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 5 | |
Troubled Debt Restructurings, Combination Modification [Member] | Commercial, secured by real estate [Member] | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Financing Receivable, Troubled Debt Restructuring, Postmodification | 258 | |
Troubled Debt Restructurings, Combination Modification [Member] | Residential real estate [Member] | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 0 |
Acquired Credit Impaired Loans,
Acquired Credit Impaired Loans, Major Classifications of Acquired Credit Impaired Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans gross | $ 1,272,387 | $ 1,243,451 |
Loans, gross | 1,267,379 | 1,239,406 |
Commercial and industrial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans gross | 85,434 | 78,371 |
Commercial, secured by real estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans gross | 828,580 | 804,154 |
Residential real estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans gross | 318,319 | 322,855 |
Other loans, including deposit overdrafts [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans gross | 436 | 1,193 |
Financial Asset Acquired with Credit Deterioration [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans gross | 6,115 | 7,223 |
Loans, gross | 6,115 | 7,223 |
Financial Asset Acquired with Credit Deterioration [Member] | Commercial and industrial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans gross | 562 | 711 |
Financial Asset Acquired with Credit Deterioration [Member] | Commercial, secured by real estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans gross | 2,690 | 3,531 |
Financial Asset Acquired with Credit Deterioration [Member] | Residential real estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans gross | 2,593 | 2,718 |
Financial Asset Acquired with Credit Deterioration [Member] | Other loans, including deposit overdrafts [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans gross | 270 | 263 |
First Capital Bancshares, Inc. [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans gross | 460 | 1,348 |
Loans, gross | 460 | 1,348 |
First Capital Bancshares, Inc. [Member] | Financial Asset Acquired with Credit Deterioration [Member] | Commercial and industrial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans gross | 5 | 5 |
First Capital Bancshares, Inc. [Member] | Financial Asset Acquired with Credit Deterioration [Member] | Commercial, secured by real estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans gross | 0 | 792 |
First Capital Bancshares, Inc. [Member] | Financial Asset Acquired with Credit Deterioration [Member] | Residential real estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans gross | 455 | 551 |
First Capital Bancshares, Inc. [Member] | Financial Asset Acquired with Credit Deterioration [Member] | Other loans, including deposit overdrafts [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans gross | 0 | 0 |
Eaton National Bank & Trust Co. [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans gross | 2,164 | 2,186 |
Loans, gross | 2,164 | 2,186 |
Eaton National Bank & Trust Co. [Member] | Financial Asset Acquired with Credit Deterioration [Member] | Commercial and industrial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans gross | 423 | 423 |
Eaton National Bank & Trust Co. [Member] | Financial Asset Acquired with Credit Deterioration [Member] | Commercial, secured by real estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans gross | 796 | 815 |
Eaton National Bank & Trust Co. [Member] | Financial Asset Acquired with Credit Deterioration [Member] | Residential real estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans gross | 675 | 685 |
Eaton National Bank & Trust Co. [Member] | Financial Asset Acquired with Credit Deterioration [Member] | Other loans, including deposit overdrafts [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans gross | 270 | 263 |
BNB Bancorp, Inc [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans gross | 1,300 | 1,319 |
Loans, gross | 1,300 | 1,319 |
BNB Bancorp, Inc [Member] | Financial Asset Acquired with Credit Deterioration [Member] | Commercial and industrial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans gross | 0 | 0 |
BNB Bancorp, Inc [Member] | Financial Asset Acquired with Credit Deterioration [Member] | Commercial, secured by real estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans gross | 1,205 | 1,219 |
BNB Bancorp, Inc [Member] | Financial Asset Acquired with Credit Deterioration [Member] | Residential real estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans gross | 95 | 100 |
BNB Bancorp, Inc [Member] | Financial Asset Acquired with Credit Deterioration [Member] | Other loans, including deposit overdrafts [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans gross | 0 | 0 |
Columbus First Bancorp, Inc. [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans gross | 2,191 | 2,370 |
Loans, gross | 2,191 | 2,370 |
Columbus First Bancorp, Inc. [Member] | Financial Asset Acquired with Credit Deterioration [Member] | Commercial and industrial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans gross | 134 | 283 |
Columbus First Bancorp, Inc. [Member] | Financial Asset Acquired with Credit Deterioration [Member] | Commercial, secured by real estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans gross | 689 | 705 |
Columbus First Bancorp, Inc. [Member] | Financial Asset Acquired with Credit Deterioration [Member] | Residential real estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans gross | 1,368 | 1,382 |
Columbus First Bancorp, Inc. [Member] | Financial Asset Acquired with Credit Deterioration [Member] | Other loans, including deposit overdrafts [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans gross | $ 0 | $ 0 |
Acquired Credit Impaired Loan_2
Acquired Credit Impaired Loans, Outstanding Balance and Carrying Value for Acquired Credit Impaired Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 | Mar. 31, 2019 | Dec. 31, 2018 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield | $ 318 | $ 480 | $ 719 | $ 743 |
Loans gross | 1,272,387 | 1,243,451 | ||
Loans, net | 1,267,379 | 1,239,406 | ||
Less allowance for loan losses | 5,008 | 4,045 | ||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities [Abstract] | ||||
Outstanding balance | 7,537 | 9,139 | ||
Carrying amount | 6,115 | 7,223 | ||
Financial Asset Acquired with Credit Deterioration [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans gross | 6,115 | 7,223 | ||
Loans, net | 6,115 | 7,223 | ||
Less allowance for loan losses | 0 | 0 | ||
Other [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans gross | 436 | 1,193 | ||
Other [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans gross | 270 | 263 | ||
Residential real estate [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans gross | 318,319 | 322,855 | ||
Residential real estate [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans gross | 2,593 | 2,718 | ||
Commercial, secured by real estate [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans gross | 828,580 | 804,154 | ||
Commercial, secured by real estate [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans gross | 2,690 | 3,531 | ||
Commercial Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans gross | 85,434 | 78,371 | ||
Commercial Portfolio Segment [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans gross | 562 | 711 | ||
First Capital Bancshares, Inc. [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans gross | 460 | 1,348 | ||
Loans, net | 460 | 1,348 | ||
Less allowance for loan losses | 0 | 0 | ||
First Capital Bancshares, Inc. [Member] | Other [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans gross | 0 | 0 | ||
First Capital Bancshares, Inc. [Member] | Residential real estate [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans gross | 455 | 551 | ||
First Capital Bancshares, Inc. [Member] | Commercial, secured by real estate [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans gross | 0 | 792 | ||
First Capital Bancshares, Inc. [Member] | Commercial Portfolio Segment [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans gross | 5 | 5 | ||
Columbus First Bancorp, Inc. [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans gross | 2,191 | 2,370 | ||
Loans, net | 2,191 | 2,370 | ||
Less allowance for loan losses | 0 | 0 | ||
Columbus First Bancorp, Inc. [Member] | Other [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans gross | 0 | 0 | ||
Columbus First Bancorp, Inc. [Member] | Residential real estate [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans gross | 1,368 | 1,382 | ||
Columbus First Bancorp, Inc. [Member] | Commercial, secured by real estate [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans gross | 689 | 705 | ||
Columbus First Bancorp, Inc. [Member] | Commercial Portfolio Segment [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans gross | 134 | 283 | ||
Eaton National Bank & Trust Co. [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans gross | 2,164 | 2,186 | ||
Loans, net | 2,164 | 2,186 | ||
Less allowance for loan losses | 0 | 0 | ||
Eaton National Bank & Trust Co. [Member] | Other [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans gross | 270 | 263 | ||
Eaton National Bank & Trust Co. [Member] | Residential real estate [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans gross | 675 | 685 | ||
Eaton National Bank & Trust Co. [Member] | Commercial, secured by real estate [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans gross | 796 | 815 | ||
Eaton National Bank & Trust Co. [Member] | Commercial Portfolio Segment [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans gross | 423 | 423 | ||
BNB Bancorp, Inc [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans gross | 1,300 | 1,319 | ||
Loans, net | 1,300 | 1,319 | ||
Less allowance for loan losses | 0 | 0 | ||
BNB Bancorp, Inc [Member] | Other [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans gross | 0 | 0 | ||
BNB Bancorp, Inc [Member] | Residential real estate [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans gross | 95 | 100 | ||
BNB Bancorp, Inc [Member] | Commercial, secured by real estate [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans gross | 1,205 | 1,219 | ||
BNB Bancorp, Inc [Member] | Commercial Portfolio Segment [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans gross | $ 0 | $ 0 |
Acquired Credit Impaired Loan_3
Acquired Credit Impaired Loans, Accretable Yield Related To Acquired Credit Impaired Loans (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | ||
Accretable discount at beginning of period | $ 480 | $ 743 |
Reclassification from nonaccretable discount to accretable discount | 333 | 0 |
Disposals | 0 | (1) |
Accretion | (495) | (25) |
Accretable discount at end of period | $ 318 | $ 719 |
Acquired Credit Impaired Loan_4
Acquired Credit Impaired Loans Loans Acquired in Business Combination, Not Considered Impaired (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 | Mar. 31, 2019 | Dec. 31, 2018 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield | $ 318 | $ 480 | $ 719 | $ 743 |
Affordable Housing Tax Credit_3
Affordable Housing Tax Credit Limited Partnership (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2019 | |
Equity Method Investments and Joint Ventures [Abstract] | |||
Affordable housing tax credit investment | $ 7,000 | $ 7,000 | |
Less amortization | 936 | 810 | |
Net affordable housing tax credit investment | 6,064 | 6,190 | |
Unfunded commitment | $ 4,344 | $ 4,596 | |
Funding period for unfunded commitment (in years) | 11 years | ||
Investments in Affordable Housing Projects [Abstract] | |||
Tax credits and other tax benefits recognized | $ 159 | $ 84 | |
Tax credit amortization expense included in provision for income taxes | $ 126 | $ 45 |
Borrowings (Details)
Borrowings (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Debt Disclosure [Abstract] | ||
Long-term debt | $ 35,996 | $ 40,994 |
Federal Home Loan Bank, Advances, Weighted Average Interest Rate | 2.63% | 2.55% |
Debt, Long-term and Short-term, Combined Amount | $ 35,996 | $ 40,994 |
Debt, Weighted Average Interest Rate | 2.63% | 2.55% |
Pledged financial instruments, securities for federal home loan bank | $ 280,000 | $ 283,000 |
Line of Credit Facility, Remaining Borrowing Capacity | $ 93,400 |
Leases - Lease, Cost (Details)
Leases - Lease, Cost (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Leases [Abstract] | ||
Operating lease expense | $ 153 | $ 140 |
Short-term lease expense | 12 | 12 |
Variable lease expense | 3 | 2 |
Other | 1 | 5 |
Total lease expense | $ 169 | $ 159 |
Leases Lease, Other Information
Leases Lease, Other Information (Details) $ in Thousands | 3 Months Ended |
Mar. 31, 2020USD ($) | |
Leases [Abstract] | |
Cash paid for amounts included in the measurement of lease liabilities: | $ 120 |
Right-of-use assets obtained in exchange for new operating lease liabilities | $ 313 |
Weighted average remaining lease term in years for operating leases | 37 years 5 months |
Weighted average discount rate for operating leases | 3.65% |
Leases - (Details)
Leases - (Details) | 3 Months Ended |
Mar. 31, 2020 | |
Lessee, Lease, Description [Line Items] | |
Weighted average remaining lease term in years for operating leases | 37 years 5 months |
Oakwood Lease [Member] | |
Lessee, Lease, Description [Line Items] | |
Weighted average remaining lease term in years for operating leases | 17 years |
Lessee, Operating Lease, Number Of Renewal Options | 6 |
Lessee, operating lease, renewal term | 5 years |
Oxford Lease [Member] | |
Lessee, Lease, Description [Line Items] | |
Weighted average remaining lease term in years for operating leases | 41 years |
Lessee, Operating Lease, Number Of Renewal Options | 0 |
Other Leases [Member] | |
Lessee, Lease, Description [Line Items] | |
Lessee, operating lease, renewal term | 5 years |
Fairfield Office Lease [Member] | |
Lessee, Lease, Description [Line Items] | |
Lessee, Operating Lease, Term of Contract | 1 year |
Minimum [Member] | Other Leases [Member] | |
Lessee, Lease, Description [Line Items] | |
Operating Lease, Remaining Lease Term | 1 year |
Maximum [Member] | Other Leases [Member] | |
Lessee, Lease, Description [Line Items] | |
Operating Lease, Remaining Lease Term | 6 years |
Income Taxes (Details)
Income Taxes (Details) | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Income Tax Disclosure [Abstract] | ||
Statutory tax rate | 21.00% | 21.00% |
Increase (decrease) resulting from: | ||
Tax exempt interest | 1.00% | 1.90% |
Tax exempt income on bank owned life insurance | (2.20%) | (0.70%) |
Effective Income Tax Rate Reconciliation, Captive Insurance Premium Income, Percent | (0.80%) | (0.90%) |
Effective Income Tax Rate Reconciliation, Prior Year Income Taxes, Percent | (3.40%) | (0.00%) |
Other, net | (0.70%) | (0.60%) |
Effective tax rate | 12.90% | 16.90% |
Commitments and Contingent Li_3
Commitments and Contingent Liabilities (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Off-balance sheet risks, liability | $ 341,112 | $ 276,425 |
Commitments outstanding for capital expenditures | 1,780,000 | |
Commercial loans [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Off-balance sheet risks, liability | 99,330 | 50,235 |
Other loans [Member] | Fixed rate [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Off-balance sheet risks, liability | 24,518 | 4,431 |
Other loans [Member] | Adjustable rate [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Off-balance sheet risks, liability | 9,360 | 1,199 |
Unused lines of credit [Member] | Fixed rate [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Off-balance sheet risks, liability | 24,245 | 28,796 |
Unused lines of credit [Member] | Adjustable rate [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Off-balance sheet risks, liability | 166,492 | 174,577 |
Unused overdraft protection amounts on demand and NOW accounts [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Off-balance sheet risks, liability | 16,288 | 16,304 |
Standby letters of credit [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Off-balance sheet risks, liability | $ 879 | $ 883 |
Accumulated Other Comprehensi_3
Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||
Balance beginning | $ 228,048 | $ 218,985 |
Before reclassifications | 2,658 | 2,475 |
Reclassifications | (175) | 14 |
Balance ending | 233,478 | 224,018 |
Total [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||
Balance beginning | 673 | |
Balance ending | 3,156 | (2,230) |
Unrealized Gains and Losses on Available-for-Sale Securities [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||
Before reclassifications | 2,658 | 2,475 |
Reclassifications | (175) | 14 |
Balance ending | 3,340 | |
Changes in Pension Plan Assets and Benefit Obligations [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||
Before reclassifications | 0 | 0 |
Reclassifications | 0 | 0 |
Balance ending | (184) | |
Calculated under Revenue Guidance in Effect before Topic 606 [Member] | Total [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||
Balance beginning | 673 | (4,719) |
Balance ending | (2,230) | |
Calculated under Revenue Guidance in Effect before Topic 606 [Member] | Unrealized Gains and Losses on Available-for-Sale Securities [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||
Balance beginning | 857 | (4,631) |
Balance ending | (2,142) | |
Calculated under Revenue Guidance in Effect before Topic 606 [Member] | Changes in Pension Plan Assets and Benefit Obligations [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||
Balance beginning | $ (184) | (88) |
Balance ending | $ (88) |
Accumulated Other Comprehensi_4
Accumulated Other Comprehensive Income, Reclassification of AOCI (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||
Income tax expense (benefit) | $ 746 | $ 941 |
Reclassification adjustment, net of taxes | 175 | (14) |
Unrealized Gains and Losses on Available-for-Sale Securities [Member] | ||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||
Reclassification adjustment, net of taxes | 175 | (14) |
Unrealized Gains and Losses on Available-for-Sale Securities [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||
Realized gains (losses) from sales of debt securities, available-for-sale | 221 | (18) |
Income tax expense (benefit) | 46 | (4) |
Reclassification adjustment, net of taxes | $ 175 | $ (14) |
Retirement Plans (Details)
Retirement Plans (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2019 | |
Retirement Benefits [Abstract] | |||
Automatic Annual Contribution Employees Hired Before January 1, 2009 Benefit Reduction Under Certain Amendments Minimum, percent | 5.00% | ||
Automatic Annual Contribution Employees Hired Before January 1, 2009 Due Benefit Reduction Under Certain Amendments Maximum, percent | 7.00% | ||
Employer's matching contribution to 401(k) of employees hired on or after January 1, 2009, percent | 50.00% | ||
Maximum annual contribution per employee, percent | 3.00% | ||
Funding and administrative costs of noncontributory defined benefit retirement plan and 401(k) plan [Abstract] | |||
401(k) plan | $ 165 | $ 143 | |
Qualified noncontributory defined benefit retirement plan [Member] | |||
Funding and administrative costs of noncontributory defined benefit retirement plan and 401(k) plan [Abstract] | |||
Qualified noncontributory defined benefit retirement plan | 270 | 256 | |
Components of net periodic pension cost [Abstract] | |||
Service cost | 0 | 0 | |
Interest cost | 16 | 18 | |
Amortization of unrecognized net loss | 0 | 0 | |
Net periodic pension cost | 16 | $ 18 | |
Recognized in accumulated other comprehensive income [Abstract] | |||
Net actuarial loss | 184 | $ 184 | |
Past service cost | 0 | 0 | |
Total recognized, net of tax | $ 184 | $ 184 |
Stock Based Compensation, Addit
Stock Based Compensation, Additional Information (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Period options granted to date vest ratably | 5 years | |
Period options granted expires after date of grant | 10 years | |
Compensation expense relating to restricted stock | $ 33,000 | $ 70,000 |
Stock Options [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | 0 | 68,593,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | 0 | 68,593,000 |
Share-based Payment Arrangement, Expense | 0 | 0 |
Restricted Stock [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Share-based Payment Arrangement, Expense | 33,000 | 70,000 |
Share-based Payment Arrangement, Expense, Tax Benefit | 7,000 | $ 15,000 |
Restricted stock compensation costs not yet recognized | $ 514,000 | |
Compensation costs not yet recognized, period for recognition | 4 years 11 months | |
Ownership Incentive Plan [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Number of shares authorized for issuance (in shares) | 200,000 | |
2015 Plan [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Number of shares authorized for issuance (in shares) | 450,000 |
Stock Based Compensation, Stock
Stock Based Compensation, Stock Options Outstanding By Exercise Price Range (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Exercise Price Range 11.00 to 12.99 [Member] | ||
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | ||
Exercise price range, lower range limit (usd per share) | $ 11 | |
Exercise price range, upper range limit (usd per share) | $ 12.99 | |
Outstanding stock options, number (in shares) | 311 | |
Outstanding stock option, weighted average exercise price (in dollars per share) | $ 12.60 | |
Outstanding stock option, weighted average remaining contractual life (years) | 1 year 10 months 15 days | |
Exercisable stock options, number (in shares) | 311 | |
Exercisable stock option, weighted average exercise price (in dollars per share) | $ 12.60 | |
Exercisable stock options, weighted average remaining contractual life (years) | 1 year 10 months 15 days | |
Stock Options [Member] | ||
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | $ 0 | $ 68,593,000 |
Share-based Payment Arrangement, Expense | $ 0 | $ 0 |
Stock Based Compensation, Sto_2
Stock Based Compensation, Stock Option Activity (Details) - Stock Options [Member] - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $ 0 | $ 68,593 |
Options outstanding [Roll Forward] | ||
Outstanding at beginning of period (in shares) | 9,904 | 13,278 |
Granted (in shares) | 0 | 0 |
Exercised (in shares) | (9,593) | 0 |
Expired (in shares) | 0 | 0 |
Outstanding at end of period (in shares) | 311 | 13,278 |
Exercisable at end of period (in shares) | 311 | 13,278 |
Weighted average exercise price [Roll forward] | ||
Outstanding at beginning of period (in dollars per share) | $ 11.96 | $ 11.98 |
Granted (in dollars per share) | 0 | 0 |
Exercised (in dollars per share) | 11.94 | 0 |
Expired (in dollars per share) | 0 | 0 |
Outstanding at end of period (in dollars per share) | 12.60 | 11.98 |
Exercisable at end of period (in dollars per share) | $ 12.60 | $ 11.98 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | $ 0 | $ 68,593 |
Stock Based Compensation , Info
Stock Based Compensation , Information Related to Stock Options Exercised (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Share-based Payment Arrangement [Abstract] | ||
Intrinsic value of options exercised | $ 46 | $ 0 |
Cash received from options exercised | 115 | 0 |
Tax benefit realized from options exercised | $ 5 | $ 0 |
Stock Based Compensation , Rest
Stock Based Compensation , Restricted Stock Activity (Details) - Restricted Stock [Member] - $ / shares | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Shares | ||
Outstanding at beginning of period (in shares) | 17,752 | 16,958 |
Granted (in shares) | 19,211 | 12,504 |
Vested (in shares) | 3,818 | 2,795 |
Forfeited (in shares) | 3,550 | 0 |
Outstanding at end of period (in shares) | 29,595 | 26,667 |
Weighted Average Grant Date Fair Value | ||
Outstanding at beginning of period (usd per share) | $ 18.03 | $ 18.94 |
Granted (usd per share) | 16.87 | 16.95 |
Vested (usd per share) | 18.45 | 20.01 |
Forfeited (usd per share) | 16.90 | 0 |
Outstanding at end of period (usd per share) | $ 17.37 | $ 17.89 |
Stock Based Compensation Restri
Stock Based Compensation Restricted Stock Awards Expense Informations (Details) - Restricted Stock [Member] - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Share-based Payment Arrangement, Expense | $ 33 | $ 70 |
Share-based Payment Arrangement, Expense, Tax Benefit | $ 7 | $ 15 |
Earnings Per Common Share (Deta
Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Earnings Per Share [Abstract] | ||
Net income | $ 5,026 | $ 4,627 |
Less allocation of earnings and dividends to participating securities | 11 | 8 |
Net income allocated to common shareholders | $ 5,015 | $ 4,619 |
Weighted average common shares outstanding, gross (in shares) | 12,955,672 | 13,307,865 |
Less average participating securities (in shares) | 29,595 | 24,231 |
Weighted average number of shares outstanding used in the calculation of basic earnings per common share (in shares) | 12,926,077 | 13,283,634 |
Add dilutive effect of: | ||
Stock options (in shares) | 1,589 | 3,704 |
Adjusted weighted average number of shares outstanding used in the calculation of diluted earnings per common share (in shares) | 12,927,666 | 13,287,338 |
Earnings per common share: | ||
Basic (usd per share) | $ 0.39 | $ 0.35 |
Diluted (usd per share) | $ 0.39 | $ 0.35 |
Earnings Per Common Share, Addi
Earnings Per Common Share, Additional Information (Details) - shares | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Options to purchase common stock [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Options excluded from computation of earnings per share (in shares) | 0 | 0 |
Fair Value Measurements (Detail
Fair Value Measurements (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Recurring fair value measurement [Abstract] | ||
Equity securities with a readily determinable fair value, at fair value | $ 2,036 | $ 2,312 |
Debt securities, available-for-sale, at fair value | 141,439 | 178,000 |
Recurring [Member] | ||
Recurring fair value measurement [Abstract] | ||
Debt securities, available-for-sale, at fair value | 143,475 | 180,312 |
Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Recurring fair value measurement [Abstract] | ||
Debt securities, available-for-sale, at fair value | 4,445 | 4,621 |
Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Recurring fair value measurement [Abstract] | ||
Debt securities, available-for-sale, at fair value | 139,030 | 175,691 |
Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Recurring fair value measurement [Abstract] | ||
Debt securities, available-for-sale, at fair value | 0 | 0 |
Nonrecurring [Member] | ||
Recurring fair value measurement [Abstract] | ||
Fair Value | 1,352 | 3,037 |
Nonrecurring fair value measurements: | ||
Impaired loans | 1,352 | 2,840 |
Other real estate owned and repossessed assets | 0 | 197 |
Nonrecurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Recurring fair value measurement [Abstract] | ||
Fair Value | 0 | 0 |
Nonrecurring fair value measurements: | ||
Impaired loans | 0 | 0 |
Other real estate owned and repossessed assets | 0 | 0 |
Nonrecurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Recurring fair value measurement [Abstract] | ||
Fair Value | 0 | 0 |
Nonrecurring fair value measurements: | ||
Impaired loans | 0 | 0 |
Other real estate owned and repossessed assets | 0 | 0 |
Nonrecurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Recurring fair value measurement [Abstract] | ||
Fair Value | 1,352 | 3,037 |
Nonrecurring fair value measurements: | ||
Impaired loans | 1,352 | 2,840 |
Other real estate owned and repossessed assets | 0 | 197 |
U.S. Treasury notes [Member] | ||
Recurring fair value measurement [Abstract] | ||
Debt securities, available-for-sale, at fair value | 2,409 | 2,309 |
U.S. Treasury notes [Member] | Recurring [Member] | ||
Recurring fair value measurement [Abstract] | ||
Debt securities, available-for-sale, at fair value | 2,409 | 2,309 |
U.S. Treasury notes [Member] | Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Recurring fair value measurement [Abstract] | ||
Debt securities, available-for-sale, at fair value | 2,409 | 2,309 |
U.S. Treasury notes [Member] | Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Recurring fair value measurement [Abstract] | ||
Debt securities, available-for-sale, at fair value | 0 | 0 |
U.S. Treasury notes [Member] | Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Recurring fair value measurement [Abstract] | ||
Debt securities, available-for-sale, at fair value | 0 | 0 |
U.S. Agency notes [Member] | ||
Recurring fair value measurement [Abstract] | ||
Debt securities, available-for-sale, at fair value | 22,703 | 48,984 |
U.S. Agency notes [Member] | Recurring [Member] | ||
Recurring fair value measurement [Abstract] | ||
Debt securities, available-for-sale, at fair value | 22,703 | 48,984 |
U.S. Agency notes [Member] | Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Recurring fair value measurement [Abstract] | ||
Debt securities, available-for-sale, at fair value | 0 | 0 |
U.S. Agency notes [Member] | Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Recurring fair value measurement [Abstract] | ||
Debt securities, available-for-sale, at fair value | 22,703 | 48,984 |
U.S. Agency notes [Member] | Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Recurring fair value measurement [Abstract] | ||
Debt securities, available-for-sale, at fair value | 0 | 0 |
U.S. Agency mortgage-backed securities [Member] | ||
Recurring fair value measurement [Abstract] | ||
Debt securities, available-for-sale, at fair value | 82,685 | 84,406 |
U.S. Agency mortgage-backed securities [Member] | Recurring [Member] | ||
Recurring fair value measurement [Abstract] | ||
Debt securities, available-for-sale, at fair value | 82,685 | 84,406 |
U.S. Agency mortgage-backed securities [Member] | Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Recurring fair value measurement [Abstract] | ||
Debt securities, available-for-sale, at fair value | 0 | 0 |
U.S. Agency mortgage-backed securities [Member] | Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Recurring fair value measurement [Abstract] | ||
Debt securities, available-for-sale, at fair value | 82,685 | 84,406 |
U.S. Agency mortgage-backed securities [Member] | Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Recurring fair value measurement [Abstract] | ||
Debt securities, available-for-sale, at fair value | 0 | 0 |
Non-taxable Municipal securities [Member] | ||
Recurring fair value measurement [Abstract] | ||
Debt securities, available-for-sale, at fair value | 13,368 | 22,321 |
Non-taxable Municipal securities [Member] | Recurring [Member] | ||
Recurring fair value measurement [Abstract] | ||
Debt securities, available-for-sale, at fair value | 13,368 | 22,321 |
Non-taxable Municipal securities [Member] | Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Recurring fair value measurement [Abstract] | ||
Debt securities, available-for-sale, at fair value | 0 | 0 |
Non-taxable Municipal securities [Member] | Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Recurring fair value measurement [Abstract] | ||
Debt securities, available-for-sale, at fair value | 13,368 | 22,321 |
Non-taxable Municipal securities [Member] | Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Recurring fair value measurement [Abstract] | ||
Debt securities, available-for-sale, at fair value | 0 | 0 |
Taxable Municipal securities [Member] | ||
Recurring fair value measurement [Abstract] | ||
Debt securities, available-for-sale, at fair value | 20,274 | 19,980 |
Taxable Municipal securities [Member] | Recurring [Member] | ||
Recurring fair value measurement [Abstract] | ||
Debt securities, available-for-sale, at fair value | 20,274 | 19,980 |
Taxable Municipal securities [Member] | Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Recurring fair value measurement [Abstract] | ||
Debt securities, available-for-sale, at fair value | 0 | 0 |
Taxable Municipal securities [Member] | Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Recurring fair value measurement [Abstract] | ||
Debt securities, available-for-sale, at fair value | 20,274 | 19,980 |
Taxable Municipal securities [Member] | Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Recurring fair value measurement [Abstract] | ||
Debt securities, available-for-sale, at fair value | 0 | 0 |
Mutual funds [Member] | Recurring [Member] | ||
Recurring fair value measurement [Abstract] | ||
Equity securities with a readily determinable fair value, at fair value | 34 | |
Equity securities with a readily determinable fair value: | 45 | |
Mutual funds [Member] | Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Recurring fair value measurement [Abstract] | ||
Equity securities with a readily determinable fair value, at fair value | 34 | |
Equity securities with a readily determinable fair value: | 45 | |
Mutual funds [Member] | Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Recurring fair value measurement [Abstract] | ||
Equity securities with a readily determinable fair value, at fair value | 0 | |
Equity securities with a readily determinable fair value: | 0 | |
Mutual funds [Member] | Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Recurring fair value measurement [Abstract] | ||
Equity securities with a readily determinable fair value, at fair value | 0 | |
Equity securities with a readily determinable fair value: | 0 | |
Mutual Funds Measured At Net Asset Value [Member] | Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Recurring fair value measurement [Abstract] | ||
Equity securities with a readily determinable fair value, at fair value | 1,327 | |
Equity securities with a readily determinable fair value: | 1,300 | |
Mutual Funds Measured At Net Asset Value [Member] | Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Recurring fair value measurement [Abstract] | ||
Equity securities with a readily determinable fair value, at fair value | 0 | |
Equity securities with a readily determinable fair value: | 0 | |
Mutual Funds Measured At Net Asset Value [Member] | Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Recurring fair value measurement [Abstract] | ||
Equity securities with a readily determinable fair value, at fair value | 0 | |
Equity securities with a readily determinable fair value: | 0 | |
Equity securities [Member] | Recurring [Member] | ||
Recurring fair value measurement [Abstract] | ||
Equity securities with a readily determinable fair value, at fair value | 675 | |
Equity securities with a readily determinable fair value: | 967 | |
Equity securities [Member] | Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Recurring fair value measurement [Abstract] | ||
Equity securities with a readily determinable fair value, at fair value | 675 | |
Equity securities with a readily determinable fair value: | 967 | |
Equity securities [Member] | Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Recurring fair value measurement [Abstract] | ||
Equity securities with a readily determinable fair value, at fair value | 0 | |
Equity securities with a readily determinable fair value: | 0 | |
Equity securities [Member] | Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Recurring fair value measurement [Abstract] | ||
Equity securities with a readily determinable fair value, at fair value | $ 0 | |
Equity securities with a readily determinable fair value: | $ 0 |
Fair Value Measurements, Quanti
Fair Value Measurements, Quantitative Information About Unobservable Inputs Used In Recurring And Nonrecurring Level 3 Inputs (Details) - Nonrecurring [Member] - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Fair Value | $ 1,352 | $ 3,037 |
Level 3 [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Fair Value | $ 1,352 | $ 3,037 |
Fair Value Measurements, By Bal
Fair Value Measurements, By Balance Sheet Grouping (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
FINANCIAL ASSETS: | ||
Equity securities with a readily determinable fair value, at fair value | $ 2,036 | $ 2,312 |
Debt securities, held-to-maturity | 28,019 | 27,888 |
Carrying Amount [Member] | ||
FINANCIAL ASSETS: | ||
Cash and cash equivalents | 24,795 | 20,765 |
Debt securities, held-to-maturity | 27,694 | 27,525 |
Federal Reserve Bank stock | 4,652 | 4,652 |
Federal Home Loan Bank stock | 5,203 | 5,203 |
Loans, net | 1,267,379 | 1,239,406 |
Accrued interest receivable | 4,462 | 3,911 |
FINANCIAL LIABILITIES: | ||
Deposits | 1,345,872 | 1,348,280 |
Short-term borrowings | 0 | 0 |
Long-term debt | 35,996 | 40,994 |
Accrued interest payable | 575 | 705 |
Fair Value [Member] | ||
FINANCIAL ASSETS: | ||
Cash and cash equivalents | 24,795 | 20,765 |
Debt securities, held-to-maturity | 28,019 | 27,888 |
Federal Reserve Bank stock | 4,652 | 4,652 |
Federal Home Loan Bank stock | 5,203 | 5,203 |
Loans, net | 1,280,021 | 1,252,156 |
Accrued interest receivable | 4,462 | 3,911 |
FINANCIAL LIABILITIES: | ||
Deposits | 1,351,382 | 1,352,061 |
Short-term borrowings | 0 | 0 |
Long-term debt | 37,008 | 41,487 |
Accrued interest payable | 575 | 705 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
FINANCIAL ASSETS: | ||
Cash and cash equivalents | 24,795 | 20,765 |
Debt securities, held-to-maturity | 0 | 0 |
Federal Reserve Bank stock | 4,652 | 4,652 |
Federal Home Loan Bank stock | 5,203 | 5,203 |
Loans, net | 0 | 0 |
Accrued interest receivable | 0 | 0 |
FINANCIAL LIABILITIES: | ||
Deposits | 1,028,564 | 1,004,057 |
Short-term borrowings | 0 | |
Long-term debt | 0 | 0 |
Accrued interest payable | 0 | 0 |
Significant Other Observable Inputs (Level 2) [Member] | ||
FINANCIAL ASSETS: | ||
Cash and cash equivalents | 0 | 0 |
Debt securities, held-to-maturity | 0 | 0 |
Federal Reserve Bank stock | 0 | 0 |
Federal Home Loan Bank stock | 0 | 0 |
Loans, net | 0 | 0 |
Accrued interest receivable | 4,462 | 3,911 |
FINANCIAL LIABILITIES: | ||
Deposits | 322,818 | 348,004 |
Short-term borrowings | 0 | 0 |
Long-term debt | 37,008 | 41,487 |
Accrued interest payable | 575 | 705 |
Significant Unobservable Inputs (Level 3) [Member] | ||
FINANCIAL ASSETS: | ||
Cash and cash equivalents | 0 | 0 |
Debt securities, held-to-maturity | 28,019 | 27,888 |
Federal Reserve Bank stock | 0 | 0 |
Federal Home Loan Bank stock | 0 | 0 |
Loans, net | 1,280,021 | 1,252,156 |
Accrued interest receivable | 0 | 0 |
FINANCIAL LIABILITIES: | ||
Deposits | 0 | 0 |
Short-term borrowings | 0 | 0 |
Long-term debt | 0 | 0 |
Accrued interest payable | $ 0 | $ 0 |