Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2022 | Nov. 08, 2022 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2022 | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Entity Registrant Name | LCNB Corp. | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Year Focus | 2022 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false | |
Entity File Number | 001-35292 | |
Entity Incorporation, State or Country Code | OH | |
Entity Tax Identification Number | 31-1626393 | |
Entity Address, Address Line One | 2 North Broadway | |
Entity Address, City or Town | Lebanon | |
Entity Address, State or Province | OH | |
Entity Address, Postal Zip Code | 45036 | |
City Area Code | (513) | |
Local Phone Number | 932-1414 | |
Title of 12(b) Security | Common Stock, No Par Value | |
Trading Symbol | LCNB | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 11,267,459 | |
Entity Central Index Key | 0001074902 |
CONSOLIDATED CONDENSED BALANCE
CONSOLIDATED CONDENSED BALANCE SHEETS - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
ASSETS: | ||
Cash and due from banks | $ 17,754 | $ 16,810 |
Interest-bearing demand deposits | 11,706 | 1,326 |
Total cash and cash equivalents | 29,460 | 18,136 |
Investment securities: | ||
Equity securities with a readily determinable fair value, at fair value | 2,175 | 2,546 |
Equity securities without a readily determinable fair value, at cost | 2,099 | 2,099 |
Debt securities, available-for-sale, at fair value | 290,419 | 308,177 |
Debt securities, held-to-maturity, at cost | 22,415 | 22,972 |
Federal Reserve Bank stock, at cost | 4,652 | 4,652 |
Federal Home Loan Bank stock, at cost | 4,041 | 5,203 |
Loans, net | 1,371,045 | 1,363,939 |
Premises and equipment, net | 33,152 | 35,385 |
Operating Lease, Right-of-Use Asset | 6,025 | 6,357 |
Goodwill | 59,221 | 59,221 |
Core deposit and other intangibles, net | 1,996 | 2,473 |
Bank owned life insurance | 44,027 | 43,224 |
Other assets, net | 26,351 | 21,246 |
TOTAL ASSETS | 1,904,700 | 1,903,629 |
Deposits: | ||
Noninterest-bearing | 521,704 | 501,531 |
Interest-bearing | 1,135,666 | 1,127,288 |
Total deposits | 1,657,370 | 1,628,819 |
Short-term Debt | 4,000 | 0 |
Debt, Long-term and Short-term, Combined Amount | 24,539 | 10,000 |
Operating lease liabilities | 6,116 | 6,473 |
Accrued interest and other liabilities | 17,236 | 19,733 |
TOTAL LIABILITIES | 1,709,261 | 1,665,025 |
COMMITMENTS AND CONTINGENT LIABILITIES | $ 0 | $ 0 |
Preferred stock, shares outstanding | 0 | 0 |
Preferred stock, shares authorized | 1,000,000 | 1,000,000 |
SHAREHOLDERS' EQUITY: | ||
Preferred shares – no par value, authorized 1,000,000 shares, none outstanding | $ 0 | $ 0 |
Common Stock, Value, Issued | 143,855 | 143,130 |
Retained earnings | 135,202 | 126,312 |
Treasury Stock, Value | (52,009) | (29,029) |
Accumulated other comprehensive loss, net of taxes | (31,609) | (1,809) |
TOTAL SHAREHOLDERS' EQUITY | 195,439 | 238,604 |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | 1,904,700 | 1,903,629 |
Accrued interest receivable | $ 7,622 | $ 7,999 |
Preferred shares, no par value (in dollars per share) | $ 0 | $ 0 |
Common stock, shares, outstanding (in shares) | 11,293,639 | 12,414,956 |
Common stock, shares authorized | 19,000,000 | 19,000,000 |
Common shares, no par value (in dollars per share) | $ 0 | $ 0 |
Common stock, shares, issued | 14,264,931 | 14,213,792 |
Treasury stock, shares | 2,971,292 | 1,798,836 |
CONSOLIDATED CONDENSED BALANC_2
CONSOLIDATED CONDENSED BALANCE SHEETS (Parenthetical) - $ / shares | Sep. 30, 2022 | Dec. 31, 2021 |
SHAREHOLDERS' EQUITY: | ||
Preferred shares, no par value (in dollars per share) | $ 0 | $ 0 |
Preferred Stock, Shares Authorized | 1,000,000 | 1,000,000 |
Preferred stock, shares outstanding | 0 | 0 |
Common shares, no par value (in dollars per share) | $ 0 | $ 0 |
Common stock, shares authorized | 19,000,000 | 19,000,000 |
Common stock, shares, issued | 14,264,931 | 14,213,792 |
Common stock, shares, outstanding (in shares) | 11,293,639 | 12,414,956 |
Treasury stock, shares | 2,971,292 | 1,798,836 |
CONSOLIDATED CONDENSED STATEMEN
CONSOLIDATED CONDENSED STATEMENTS OF INCOME - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
INTEREST INCOME: | ||||
Interest and fees on loans | $ 15,026 | $ 13,729 | $ 43,360 | $ 42,372 |
With a readily determinable fair value | 14 | 12 | 40 | 38 |
Without a readily determinable fair value | 6 | 5 | 16 | 16 |
Taxable | 1,323 | 1,027 | 3,672 | 2,650 |
Non-taxable | 190 | 214 | 567 | 656 |
Other investments | 145 | 37 | 379 | 256 |
TOTAL INTEREST INCOME | 16,704 | 15,024 | 48,034 | 45,988 |
INTEREST EXPENSE: | ||||
Interest on deposits | 979 | 836 | 2,493 | 2,809 |
Interest on short-term borrowings | 71 | 2 | 320 | 4 |
Interest on long-term debt | 210 | 113 | 387 | 361 |
TOTAL INTEREST EXPENSE | 1,260 | 951 | 3,200 | 3,174 |
NET INTEREST INCOME | 15,444 | 14,073 | 44,834 | 42,814 |
PROVISION FOR (RECOVERY OF) LOAN LOSSES | (157) | 306 | 269 | 239 |
NET INTEREST INCOME AFTER PROVISION FOR (RECOVERY OF) LOAN LOSSES | 15,601 | 13,767 | 44,565 | 42,575 |
NON-INTEREST INCOME: | ||||
Bank owned life insurance income | 269 | 269 | 803 | 805 |
Gains from sales of loans | 0 | 366 | 188 | 560 |
Other operating income | 93 | 155 | 159 | 1,055 |
TOTAL NON-INTEREST INCOME | 3,581 | 4,106 | 10,659 | 11,885 |
NON-INTEREST EXPENSE: | ||||
Salaries and employee benefits | 7,062 | 7,096 | 21,291 | 20,640 |
Equipment expenses | 398 | 421 | 1,234 | 1,232 |
Occupancy expense, net | 790 | 713 | 2,300 | 2,236 |
State financial institutions tax | 439 | 437 | 1,312 | 1,318 |
Marketing | 215 | 253 | 845 | 878 |
Amortization of intangibles | 113 | 263 | 365 | 780 |
FDIC insurance premiums, net | 137 | 129 | 397 | 365 |
Contracted services | 613 | 655 | 1,902 | 1,818 |
Profit (Loss) from Real Estate Operations | 5 | 0 | (874) | 2 |
Other non-interest expense | 2,578 | 2,062 | 7,297 | 6,460 |
TOTAL NON-INTEREST EXPENSE | 12,350 | 12,029 | 36,069 | 35,729 |
INCOME BEFORE INCOME TAXES | 6,832 | 5,844 | 19,155 | 18,731 |
PROVISION FOR INCOME TAXES | 1,253 | 1,027 | 3,435 | 3,384 |
NET INCOME | $ 5,579 | $ 4,817 | $ 15,720 | $ 15,347 |
Dividends declared per common share (usd per share) | $ 0.20 | $ 0.19 | $ 0.60 | $ 0.57 |
Earnings per common share: | ||||
Basic (usd per share) | 0.49 | 0.39 | 1.36 | 1.21 |
Diluted (usd per share) | $ 0.49 | $ 0.39 | $ 1.36 | $ 1.21 |
Weighted average common shares outstanding: | ||||
Basic (in shares) | 11,284,225 | 12,455,276 | 11,478,256 | 12,663,368 |
Diluted (in shares) | 11,284,225 | 12,455,276 | 11,478,256 | 12,663,378 |
Fiduciary and Trust | ||||
INTEREST EXPENSE: | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 1,513 | $ 1,695 | $ 4,851 | $ 4,959 |
NON-INTEREST INCOME: | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 1,513 | 1,695 | 4,851 | 4,959 |
Deposit Account | ||||
INTEREST EXPENSE: | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 1,706 | 1,621 | 4,658 | 4,506 |
NON-INTEREST INCOME: | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 1,706 | $ 1,621 | $ 4,658 | $ 4,506 |
CONSOLIDATED CONDENSED STATEM_2
CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income | $ 5,579 | $ 4,817 | $ 15,720 | $ 15,347 |
Other comprehensive loss: | ||||
Net unrealized (losses) gains on available-for-sale debt securities (net of taxes) | (9,670) | (669) | (29,804) | (3,152) |
Change in nonqualified pension plan unrecognized net gain and unrecognized prior service cost (net of taxes) | 1 | 2 | 4 | 5 |
Other comprehensive loss, net of tax | (9,669) | (667) | (29,800) | (3,147) |
TOTAL COMPREHENSIVE INCOME (LOSS) | $ (4,090) | $ 4,150 | $ (14,080) | $ 12,200 |
CONSOLIDATED CONDENSED STATEM_3
CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Other comprehensive loss: | ||||
Net unrealized gain (loss) on available-for-sale securities, tax expense (benefit) | $ (2,571) | $ (178) | $ (7,923) | $ (838) |
Other comprehensive (income) loss, defined benefit plan, before reclassification adjustment, tax | $ 0 | $ 0 | $ 1 | $ 1 |
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] |
Balance Beginning (in shares) at Dec. 31, 2020 | 12,858,325 | ||||
Balance beginning at Dec. 31, 2020 | $ 240,825 | $ 142,443 | $ 115,058 | $ (20,719) | $ 4,043 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Net income | 15,347 | 15,347 | |||
Other comprehensive income, net of taxes | (3,147) | (3,147) | |||
Dividend Reinvestment and Stock Purchase Plan (in shares) | 17,199 | ||||
Dividend Reinvestment and Stock Purchase Plan | 303 | $ 303 | |||
Exercise of stock options (in shares) | 311 | ||||
Exercise of stock options | 4 | $ 4 | |||
Compensation expense relating to restricted stock (in shares) | 25,565 | ||||
APIC, Share-based Payment Arrangement, Restricted Stock Unit, Increase for Cost Recognition | 196 | $ 196 | |||
Dividends, Common Stock, Cash | (7,238) | (7,238) | |||
Treasury shares purchased (in shares) | (468,072) | ||||
Repurchase of common stock | (7,871) | (7,871) | |||
Balance Ending (in shares) at Sep. 30, 2021 | 12,433,328 | ||||
Balance ending at Sep. 30, 2021 | $ 238,419 | $ 142,946 | 123,167 | (28,590) | 896 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Dividends declared per common share (usd per share) | $ 0.57 | ||||
Balance Beginning (in shares) at Jun. 30, 2021 | 12,634,845 | ||||
Balance beginning at Jun. 30, 2021 | $ 239,952 | $ 142,791 | 120,720 | (25,122) | 1,563 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Net income | 4,817 | 4,817 | |||
Other comprehensive income, net of taxes | (667) | (667) | |||
Dividend Reinvestment and Stock Purchase Plan (in shares) | 6,007 | ||||
Dividend Reinvestment and Stock Purchase Plan | 104 | $ 104 | |||
Compensation expense relating to restricted stock (in shares) | (756) | ||||
APIC, Share-based Payment Arrangement, Restricted Stock Unit, Increase for Cost Recognition | 51 | $ 51 | |||
Dividends, Common Stock, Cash | (2,370) | (2,370) | |||
Treasury shares purchased (in shares) | (206,768) | ||||
Repurchase of common stock | (3,468) | ||||
Balance Ending (in shares) at Sep. 30, 2021 | 12,433,328 | ||||
Balance ending at Sep. 30, 2021 | $ 238,419 | $ 142,946 | 123,167 | (28,590) | 896 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Dividends declared per common share (usd per share) | $ 0.19 | ||||
Balance Beginning (in shares) at Dec. 31, 2021 | 12,414,956 | 12,414,956 | |||
Balance beginning at Dec. 31, 2021 | $ 238,604 | $ 143,130 | 126,312 | (29,029) | (1,809) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Net income | 15,720 | 15,720 | |||
Other comprehensive income, net of taxes | (29,800) | (29,800) | |||
Dividend Reinvestment and Stock Purchase Plan (in shares) | 18,585 | ||||
Dividend Reinvestment and Stock Purchase Plan | 308 | $ 308 | |||
Compensation expense relating to restricted stock (in shares) | 32,554 | ||||
APIC, Share-based Payment Arrangement, Restricted Stock Unit, Increase for Cost Recognition | 417 | $ 417 | |||
Dividends, Common Stock, Cash | (6,830) | (6,830) | |||
Treasury shares purchased (in shares) | (1,172,456) | ||||
Repurchase of common stock | $ (22,980) | (22,980) | |||
Balance Ending (in shares) at Sep. 30, 2022 | 11,293,639 | 11,293,639 | |||
Balance ending at Sep. 30, 2022 | $ 195,439 | $ 143,855 | 135,202 | (52,009) | (31,609) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Dividends declared per common share (usd per share) | $ 0.60 | ||||
Balance Beginning (in shares) at Jun. 30, 2022 | 11,374,515 | ||||
Balance beginning at Jun. 30, 2022 | $ 202,960 | $ 143,635 | 131,894 | (50,629) | (21,940) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Net income | 5,579 | 5,579 | |||
Other comprehensive income, net of taxes | (9,669) | (9,669) | |||
Dividend Reinvestment and Stock Purchase Plan (in shares) | 6,857 | ||||
Dividend Reinvestment and Stock Purchase Plan | 107 | $ 107 | |||
Compensation expense relating to restricted stock (in shares) | 0 | ||||
APIC, Share-based Payment Arrangement, Restricted Stock Unit, Increase for Cost Recognition | 113 | $ 113 | |||
Dividends, Common Stock, Cash | (2,271) | (2,271) | |||
Treasury shares purchased (in shares) | (87,733) | ||||
Repurchase of common stock | $ (1,380) | ||||
Balance Ending (in shares) at Sep. 30, 2022 | 11,293,639 | 11,293,639 | |||
Balance ending at Sep. 30, 2022 | $ 195,439 | $ 143,855 | $ 135,202 | $ (52,009) | $ (31,609) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Dividends declared per common share (usd per share) | $ 0.20 |
CONSOLIDATED CONDENSED STATEM_5
CONSOLIDATED CONDENSED STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Common stock dividends (in dollars per share) | $ 0.20 | $ 0.19 | $ 0.60 | $ 0.57 |
CONSOLIDATED CONDENSED STATEM_6
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net income | $ 15,720 | $ 15,347 |
Adjustments to reconcile net income to net cash flows from operating activities: | ||
Depreciation, amortization, and accretion | 2,177 | 1,665 |
Provision for loan losses | 269 | 239 |
(Benefit from) provision for deferred income taxes | (444) | 76 |
Increase in cash surrender value of bank owned life insurance | (803) | (805) |
Loss (gain) on equity securities | 384 | (76) |
Realized (gain) loss from sales of premises and equipment | 456 | (6) |
Gains (Losses) on Sales of Other Real Estate | (889) | 0 |
Origination of mortgage loans for sale | (8,468) | (21,558) |
Realized gains from sales of loans | (188) | (560) |
Proceeds from sales of mortgage loans | 8,562 | 21,860 |
Compensation expense related to restricted stock | 417 | 196 |
Changes in: | ||
Accrued interest receivable | 377 | (287) |
Other assets | 2,079 | (1,740) |
Other liabilities | (1,307) | 438 |
TOTAL ADJUSTMENTS | 2,622 | (558) |
NET CASH FLOWS PROVIDED BY OPERATING ACTIVITIES | 18,342 | 14,789 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Available-for-sale | 17,797 | 23,464 |
Held-to-maturity | 1,312 | 1,605 |
Purchases of equity securities | (13) | (13) |
Available-for-sale | (38,581) | (132,428) |
Held-to-maturity | (755) | (1,215) |
Net increase in loans | (7,454) | (38,861) |
Purchases of premises and equipment | (553) | (1,203) |
Proceeds from sale of premises and equipment | 874 | 6 |
NET CASH FLOWS USED IN INVESTING ACTIVITIES | (24,606) | (148,645) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Net increase in deposits | 28,551 | 147,780 |
Net increase in short-term borrowings | 4,000 | 0 |
Proceeds from Issuance of Other Long-Term Debt | 15,000 | 0 |
Principal payments on long-term debt | (461) | (7,000) |
Proceeds from issuance of common stock | 308 | 28 |
Repurchase of common stock | (22,980) | (7,871) |
Proceeds from exercise of stock options | 0 | 4 |
Cash dividends paid on common stock | (6,830) | (6,963) |
NET CASH FLOWS PROVIDED BY FINANCING ACTIVITIES | 17,588 | 125,978 |
NET CHANGE IN CASH AND CASH EQUIVALENTS | 11,324 | (7,878) |
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD | 18,136 | 31,730 |
CASH AND CASH EQUIVALENTS AT END OF PERIOD | 29,460 | 23,852 |
SUPPLEMENTAL CASH FLOW INFORMATION: | ||
Interest paid | 3,243 | 3,336 |
Income Taxes Paid, Net | 2,900 | 3,190 |
Transfer from loans to other real estate owned | 716 | 0 |
Right-of-use assets obtained in exchange for new operating lease liabilities | 0 | 801 |
Proceeds from sale of other real estate owned | 1,605 | 0 |
Proceeds from Sale of Federal Home Loan Bank Stock | $ 1,162 | $ 0 |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income | 9 Months Ended |
Sep. 30, 2022 | |
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 and nine months ended September 30, 2022 and 2021 were as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, Unrealized Gains and Losses on Available-for-Sale Debt Securities Changes in Pension Plan Assets and Benefit Obligations Total Unrealized Gains and Losses on Available-for-Sale Debt Securities Changes in Pension Plan Assets and Benefit Obligations Total 2022 Balance at beginning of period $ (21,670) (270) (21,940) (1,536) (273) (1,809) Other comprehensive (loss) income, net of taxes (9,670) 1 (9,669) (29,804) 4 (29,800) Balance at end of period $ (31,340) (269) (31,609) (31,340) (269) (31,609) 2021 Balance at beginning of period $ 1,866 (303) 1,563 4,349 (306) 4,043 Other comprehensive (loss) income, net of taxes (669) 2 (667) (3,152) 5 (3,147) Balance at end of period $ 1,197 (301) 896 1,197 (301) 896 There were no reclassifications out of accumulated other comprehensive income (loss) during the three and nine months ended September 30, 2022 and 2021. |
Basis of Presentation
Basis of Presentation | 9 Months Ended |
Sep. 30, 2022 | |
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. and its wholly-owned subsidiaries: LCNB National 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. GAAP for interim financial information and the rules and regulations of the SEC. Certain information and note disclosures normally included in annual financial statements prepared in accordance with GAAP 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 consolidated operations, and cash flows for the interim periods, as required by Regulation S-X, Rule 8-03. The consolidated condensed balance sheet as of December 31, 2021 has been derived from the audited consolidated balance sheet as of that date. The preparation of consolidated financial statements in conformity with U.S. GAAP 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 and nine months ended September 30, 2022 are not necessarily indicative of the results to be expected for the full year ending December 31, 2022. 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 2021 Annual Report on Form 10-K filed with the SEC. Accounting Changes From time to time the FASB issues an ASU to communicate changes to U.S. GAAP. The following information provides brief summaries of ASUs that have recently become effective: Financial Accounting Standards (“FASB”) Accounting Standards Update (“ASU”) No. 2020-04, "Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting" ASU No. 2020-04 was issued in March 2020 and provides optional guidance for a limited period of time to ease the potential burden in accounting for or recognizing the effects of reference rate reform on financial reporting. The amendments provide optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. The amendments in this update are effective for all entities as of March 12, 2020 through December 31, 2022. LCNB does not expect the guidance in ASU No. 2020-04 will have a material impact on its results of consolidated operations or financial position. 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 and was adopted by LCNB on January 1, 2021. 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 to be applied on a retrospective basis to all periods presented upon adoption. Adoption of ASU No. 2018-14 did not have a material impact on LCNB's results of consolidated operations or financial position. Recent Accounting Pronouncements 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 consolidated 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 composed of members from the lending, Wealth Management, and finance departments. During 2017, the CECL Committee 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, analyzed its pool segmentation and reporting mechanisms, and has finished back testing in preparation for adoption of the new methodology. Management has chosen the Discounted Cash Flow methodology for all loan pools except for the farm real estate and agricultural pools, which will use the Weighted Average Remaining Maturity (WARM) methodology. While the committee and management expect that implementation of ASU No. 2016-13 will increase the balance of the allowance for loan losses by a range of 24% to 53%, they are continuing to evaluate the modeling and its potential impact on LCNB's results of consolidated operations and financial position. A second, updated back test is currently in process. LCNB is also developing internal control processes and disclosure documentation related to adoption of this standard. ASU No. 2022-02, "Financial Instruments - Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures" ASU No. 2022-02 was issued in March 2022 and, once effective, will eliminate the accounting guidance on TDRs for creditors who have adopted ASU No. 2016-13 and provides for enhanced disclosures for certain modifications to borrowers experiencing financial difficulties. The update also amends the guidance on vintage disclosures for public business entities, as defined, to require the disclosure of current-period gross charge-offs by year of origination. For entities that have adopted ASU No. 2016-13, the update is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. For entities that have not yet adopted ASU No. 2016-13, this update needs to be adopted at the same time that ASU No. 2016-13 is adopted. Early adoption is permitted if an entity has already adopted ASU No. 2016-13. Adoption of ASU No. 2022-02 is not expected to have a material impact on LCNB's results of consolidated operations or financial position. |
Investment Securities
Investment Securities | 9 Months Ended |
Sep. 30, 2022 | |
Investments, Debt and Equity Securities [Abstract] | |
Investment Securities | Investment Securities The amortized cost and estimated fair value of debt securities at September 30, 2022 and December 31, 2021 are summarized as follows (in thousands): Amortized Unrealized Unrealized Fair September 30, 2022 Debt Securities, Available-for-Sale: U.S. Treasury notes $ 84,990 — 9,173 75,817 U.S. Agency notes 89,196 — 11,597 77,599 Corporate bonds 6,700 — 815 5,885 U.S. Agency mortgage-backed securities 93,288 7 12,044 81,251 Municipal securities: Non-taxable 9,239 — 547 8,692 Taxable 46,677 4 5,506 41,175 $ 330,090 11 39,682 290,419 Debt Securities, Held-to-Maturity: Municipal securities: Non-taxable $ 18,846 — 980 17,866 Taxable 3,569 — 508 3,061 $ 22,415 — 1,488 20,927 December 31, 2021 Debt Securities, Available-for-Sale: U.S. Treasury notes $ 75,443 57 756 74,744 U.S. Agency notes 89,293 45 2,092 87,246 Corporate Bonds 5,200 70 118 5,152 U.S. Agency mortgage-backed securities 96,018 1,350 692 96,676 Municipal securities: Non-taxable 8,959 125 18 9,066 Taxable 35,208 531 446 35,293 $ 310,121 2,178 4,122 308,177 Debt Securities, Held-to-Maturity: Municipal securities: Non-taxable $ 19,403 98 — 19,501 Taxable 3,569 21 4 3,586 $ 22,972 119 4 23,087 Information concerning debt securities with gross unrealized losses at September 30, 2022 and December 31, 2021, 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 Unrealized Fair Unrealized September 30, 2022 Available-for-Sale: U.S. Treasury notes $ 16,461 1,011 59,356 8,162 U.S. Agency notes 11,993 1,280 65,606 10,317 Corporate bonds 4,244 556 1,641 259 U.S. Agency mortgage-backed securities 47,713 4,824 32,914 7,220 Municipal securities: Non-taxable 7,367 392 861 155 Taxable 23,869 2,117 17,062 3,389 $ 111,647 10,180 177,440 29,502 Held-to-Maturity: Municipal securities: Non-taxable $ 11,973 980 — — Taxable 2,822 472 239 36 $ 14,795 1,452 239 36 December 31, 2021 Available-for-Sale: U.S. Treasury notes $ 66,891 756 — — U.S. Agency notes 58,648 1,257 20,289 835 Corporate Bonds 3,898 102 484 16 U.S. Agency mortgage-backed securities 49,813 692 — — Municipal securities: Non-taxable 1,020 18 — — Taxable 18,434 322 3,535 124 $ 198,704 3,147 24,308 975 Held-to-Maturity: Municipal securities: Non-taxable $ 46 — — — Taxable 271 4 — — $ 317 4 — — Management has determined that the unrealized losses at September 30, 2022 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. Debt securities with a market value of $177,126,000 and $128,426,000 at September 30, 2022 and December 31, 2021, respectively, were pledged to secure public deposits and for other purposes required or as permitted by law. Excluding holdings in U.S. Treasury securities and U.S. Government Agencies, there were no investments in securities of any issuer that exceeded 10% of LCNB's consolidated shareholders' equity at September 30, 2022. Contractual maturities of debt securities at September 30, 2022 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 Fair Amortized Fair Due within one year $ 7,146 7,071 1,671 1,662 Due from one to five years 116,308 105,061 4,923 4,680 Due from five to ten years 112,618 96,423 2,888 2,606 Due after ten years 730 613 12,933 11,979 236,802 209,168 22,415 20,927 U.S. Agency mortgage-backed securities 93,288 81,251 — — $ 330,090 290,419 22,415 20,927 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 September 30, 2022 on its investments in equity securities without a readily determinable fair value. The cost and estimated fair value of equity securities with a readily determinable fair value at September 30, 2022 and December 31, 2021 are summarized as follows (in thousands): September 30, 2022 December 31, 2021 Cost Fair Cost Fair Mutual funds $ 1,423 1,220 1,410 1,379 Equity securities 778 955 778 1,167 Total equity securities with a readily determinable fair value $ 2,201 2,175 2,188 2,546 Changes in the fair value of equity securities with a readily determinable fair value for the three and nine months ended September 30, 2022 and 2021 were due solely to changes in unrealized gains and losses. |
Acquired Credit Impaired Loans
Acquired Credit Impaired Loans | 9 Months Ended |
Sep. 30, 2022 | |
Receivables [Abstract] | |
Acquired Credit Impaired Loans | Acquired Credit Impaired Loans The following table provides at September 30, 2022 and December 31, 2021 the major classifications of acquired credit impaired loans that are accounted for in accordance with ASC 310-30 (in thousands): September 30, 2022 December 31, 2021 Acquired from First Capital Bancshares, Inc. Commercial & industrial $ 1 1 Commercial, secured by real estate — — Residential real estate 229 398 Loans, gross 230 399 Less allowance for loan losses — — Loans, net $ 230 399 Acquired from Eaton National Bank & Trust Co. Commercial & industrial $ 433 — Commercial, secured by real estate 80 310 Residential real estate 413 463 Loans, gross 926 773 Less allowance for loan losses 13 — Loans, net $ 913 773 Acquired from BNB Bancorp, Inc. Commercial & industrial $ — — Commercial, secured by real estate 616 688 Residential real estate 48 51 Loans, gross 664 739 Less allowance for loan losses — — Loans, net $ 664 739 Acquired from Columbus First Bancorp, Inc. Commercial & industrial $ 62 87 Commercial, secured by real estate 38 614 Residential real estate 97 251 Loans, gross 197 952 Less allowance for loan losses — — Loans, net $ 197 952 Total Commercial & industrial $ 496 88 Commercial, secured by real estate 734 1,612 Residential real estate 787 1,163 Loans, gross 2,017 2,863 Less allowance for loan losses 13 — Loans, net $ 2,004 2,863 The following table provides the outstanding balance and related carrying amount for acquired credit impaired loans at the dates indicated (in thousands): September 30, 2022 December 31, 2021 Outstanding balance $ 2,645 3,769 Carrying amount 2,017 2,863 Activity during the three and nine months ended September 30, 2022 and 2021 for the accretable discount related to acquired credit impaired loans is as follows (in thousands): Three Months Ended Nine Months Ended 2022 2021 2022 2021 Accretable discount at beginning of period $ 43 84 $ 116 182 Reclassification from nonaccretable discount to accretable discount 115 22 143 65 Accretion (141) (77) (242) (218) Accretable discount at end of period $ 17 29 $ 17 29 |
Affordable Housing Tax Credit L
Affordable Housing Tax Credit Limited Partnership | 9 Months Ended |
Sep. 30, 2022 | |
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 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 September 30, 2022 and December 31, 2021 (in thousands): September 30, December 31, Affordable housing tax credit investment $ 16,950 14,950 Less amortization 3,033 2,126 Net affordable housing tax credit investment $ 13,917 12,824 Unfunded commitment $ 8,316 8,655 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 thirteen years. The following table presents other information relating to LCNB's affordable housing tax credit investments for the three and nine months ended September 30, 2022 and 2021 (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Tax credits and other tax benefits recognized $ 357 240 1,071 760 Tax credit amortization expense included in provision for income taxes 306 198 907 630 |
Borrowings
Borrowings | 9 Months Ended |
Sep. 30, 2022 | |
Debt Disclosure [Abstract] | |
Borrowings | Borrowings Long-term debt at September 30, 2022 and December 31, 2021 was as follows (dollars in thousands): September 30, 2022 December 31, 2021 Amount Rate Amount Rate Term loan $ 14,539 4.25 % $ — — % FHLB long-term advances 10,000 3.00 % 10,000 3.00 % $ 24,539 3.74 % $ 10,000 3.00 % At September 30, 2022, LCNB Corp. had a three-year term loan with a financial institution at a fixed interest rate of 4.25% and a final payment date of June 15, 2025. All advances from the FHLB of Cincinnati are secured by a blanket pledge of LCNB's 1-4 family first lien mortgage loans in the amount of approximately $280 million and $303 million at September 30, 2022 and December 31, 2021, respectively. Total remaining borrowing capacity at September 30, 2022 was approximately $206.5 million. Short-term borrowings at September 30, 2022 and December 31, 2021 were as follows (dollars in thousands): September 30, 2022 December 31, 2021 Amount Rate Amount Rate Revolving line of credit $ 4,000 6.00 % $ — — % At September 30, 2022, LCNB Corp. had a short-term revolving line of credit arrangement with a financial institution for a maximum amount of $5 million at an interest rate equal to the Wall Street Journal Prime Rate minus 25 basis points. Remaining borrowing capacity at September 30, 2022 was $1.0 million. This agreement expires on June 15, 2023. At September 30, 2022, LCNB had short-term line of credit borrowing arrangements with two financial institutions. The first arrangement is a short-term line of credit for a maximum amount of $25 million at the interest rate in effect at the time of the borrowing. The second arrangement is a short-term line of credit for a maximum amount of $30 million, at an interest rate equal to the lending institution’s federal funds rate plus 50 basis points. The full amounts of the lines of credit were available at September 30, 2022 because funds were not outstanding on either arrangement. Under the terms of a REPO Based Advance program with the FHLB of Cincinnati, LCNB can borrow up to $87.1 million in short-term advances as of September 30, 2022, subject to total remaining borrowing capacity limitations. LCNB can select terms ranging from one day to one year. The interest rate is the published rate in effect at the time of the advance. This agreement expires on February 8, 2023. Under the terms of a Cash Management Advance program with the FHLB of Cincinnati, LCNB can borrow up to $87.1 million in short-term advances as of September 30, 2022, subject to total remaining borrowing capacity limitations. LCNB can select a variable rate of interest for up to ninety days or a fixed rate of interest for a maximum of thirty days. The interest rate is the published rate in effect at the time of the advance. This agreement expires on February 8, 2023. |
Leases
Leases | 9 Months Ended |
Sep. 30, 2022 | |
Leases [Abstract] | |
Leases | Leases Lease expenses for offices are included in the consolidated condensed statements of income in net occupancy expense and lease expenses for equipment and ATMs are included in equipment expense. Components of lease expense for the three and nine months ended September 30, 2022 were as follows (in thousands): Three Months Ended Nine Months Ended 2022 2021 2022 2021 Operating lease expense $ 117 208 461 635 Short-term lease expense 100 11 184 36 Variable lease expense 1 1 2 3 Other 2 2 7 8 Total lease expense $ 220 222 654 682 Other information related to leases at September 30, 2022 were as follows (dollars in thousands): Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 477 Right-of-use assets obtained in exchange for new operating lease liabilities $ — Weighted average remaining lease term in years for operating leases 33.6 Weighted average discount rate for operating leases 3.45 % |
Income Taxes
Income Taxes | 9 Months Ended |
Sep. 30, 2022 | |
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 September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Statutory tax rate 21.0 % 21.0 % 21.0 % 21.0 % Increase (decrease) resulting from: Tax exempt interest (0.6) % (0.8) % (0.6) % (0.7) % Tax exempt income on bank owned life insurance (0.8) % (1.0) % (0.9) % (0.9) % Captive insurance premium income (0.7) % (1.0) % (0.8) % (0.8) % Other, net (0.6) % (0.6) % (0.8) % (0.5) % Effective tax rate 18.3 % 17.6 % 17.9 % 18.1 % |
Commitments and Contingent Liab
Commitments and Contingent Liabilities | 9 Months Ended |
Sep. 30, 2022 | |
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. These financial instruments 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. 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 September 30, 2022 and December 31, 2021 were as follows (in thousands): September 30, 2022 December 31, 2021 Commitments to extend credit: Commercial loans $ 35,675 82,578 Other loans Fixed rate 5,894 5,196 Adjustable rate 987 2,784 Unused lines of credit: Fixed rate 31,188 32,655 Adjustable rate 245,492 150,746 Unused overdraft protection amounts on demand and NOW accounts 16,687 16,711 Standby letters of credit 5 5 Total commitments $ 335,928 290,675 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. 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. 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 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. 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 September 30, 2022 totaled approximately $514,000. 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. |
Retirement Plans
Retirement Plans | 9 Months Ended |
Sep. 30, 2022 | |
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 and nine-month period ended September 30, 2022 and 2021 were as follows (in thousands): Three Months Ended Nine Months Ended 2022 2021 2022 2021 Qualified noncontributory defined benefit retirement plan $ 342 261 958 822 401(k) plan 157 162 494 474 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 and nine months ended September 30, 2022 and 2021 are summarized as follows (in thousands): Three Months Ended Nine Months Ended 2022 2021 2022 2021 Interest cost $ 14 13 40 39 Amortization of unrecognized net loss 2 2 6 6 Net periodic pension cost $ 16 15 46 45 Amounts recognized in accumulated other comprehensive income (loss), net of tax, for the nonqualified defined benefit retirement plan for the three and nine months ended September 30, 2022 and 2021 were as follows (in thousands): Three Months Ended Nine Months Ended 2022 2021 2022 2021 Net actuarial gain $ (1) (2) $ (4) (5) |
Stock Based Compensation
Stock Based Compensation | 9 Months Ended |
Sep. 30, 2022 | |
Share-Based Payment Arrangement [Abstract] | |
Stock Based Compensation | Stock Based Compensation LCNB established an Ownership Incentive Plan (the "2002 Plan") during 2002 that allowed for stock-based awards to eligible employees, as determined by the Board of Directors. The awards were made in the form of stock options, share awards, and/or appreciation rights. The 2002 Plan provided for the issuance of up to 200,000 shares of common stock. Options granted under the 2002 Plan vested ratably over a five-year period and expired ten years after the date of grant. The 2002 Plan expired on April 16, 2012. Any outstanding unexercised options, however, continued to be exercisable in accordance with their terms. The last of the outstanding options were exercised during the first quarter of 2021. The 2015 Ownership Incentive Plan (the "2015 Plan") was ratified by LCNB's shareholders at the annual meeting on April 28, 2015 and allows for stock-based awards to eligible employees, as determined by the Compensation Committee of the Board of Directors. Awards may be made in the form of stock options, appreciation rights, restricted shares, and/or restricted share units. The 2015 Plan provides for the issuance of up to 450,000 shares of common stock. The 2015 Plan will terminate on April 28, 2025 and could be subject to earlier termination by the Compensation Committee. Stock-based awards may be in the form of treasury shares or newly issued shares. LCNB has not granted stock option awards since 2012. The following table summarizes stock option activity for the periods indicated: Nine Months Ended September 30, 2022 2021 Options Weighted Average Exercise Options Weighted Average Exercise Outstanding, January 1, — $ — 311 $ 12.60 Exercised — — (311) 12.60 Outstanding, September 30, — — — — The following table provides information related to stock options exercised during the periods indicated (in thousands): Nine Months Ended September 30, 2022 2021 Intrinsic value of options exercised $ — 1 Cash received from options exercised — 4 Tax benefit realized from options exercised — — Restricted stock awards granted under the 2015 Plan were as follows: 2022 2021 Weighted Average Grant Date Fair Value Weighted Average Grant Date Fair Value Outstanding, January 1, 44,512 $ 17.08 28,596 $ 17.42 Granted 32,554 19.25 26,321 16.85 Vested (18,814) 18.01 (8,959) 17.54 Forfeited — — (756) 16.86 Outstanding, September 30, 58,252 $ 17.99 45,202 $ 17.08 The following table presents expense recorded in salaries and employee benefits for restricted stock awards and the related tax information for the three and nine months ended September 30, 2022 and 2021 (in thousands): Three Months Ended Nine Months Ended 2022 2021 2022 2021 Restricted stock expense $ 113 51 417 196 Tax effect 24 11 88 41 Unrecognized compensation expense for restricted stock awards was $814,000 at September 30, 2022 and is expected to be recognized over a period of 4.4 years. |
Earnings Per Common Share
Earnings Per Common Share | 9 Months Ended |
Sep. 30, 2022 | |
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 and nine months ended September 30, 2022 and 2021 were calculated as follows (dollars in thousands, except share and per share data): Three Months Ended Nine Months Ended 2022 2021 2022 2021 Net income $ 5,579 4,817 15,720 15,347 Less allocation of earnings and dividends to participating securities 28 18 81 56 Net income allocated to common shareholders $ 5,551 4,799 15,639 15,291 Weighted average common shares outstanding, gross 11,342,539 12,501,234 11,537,078 12,709,326 Less average participating securities 58,314 45,958 58,822 45,958 Weighted average number of shares outstanding used in the calculation of basic earnings per common share 11,284,225 12,455,276 11,478,256 12,663,368 Add dilutive effect of: Stock options — — — 10 Adjusted weighted average number of shares outstanding used in the calculation of diluted earnings per common share 11,284,225 12,455,276 11,478,256 12,663,378 Earnings per common share: Basic $ 0.49 0.39 1.36 1.21 Diluted 0.49 0.39 1.36 1.21 |
Fair Value Measurements
Fair Value Measurements | 9 Months Ended |
Sep. 30, 2022 | |
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 and are considered level 1 because the net asset values are determined and published and are the basis for current transactions. 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. 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 values 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. The following table summarizes the valuation of LCNB's assets recorded at fair value by input levels as of September 30, 2022 and December 31, 2021 (in thousands): Fair Value Measurements at the End of Fair Value Measurements Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs Significant Unobservable Inputs September 30, 2022 Recurring fair value measurements: Equity securities with a readily determinable fair value: Equity securities $ 955 955 — — Mutual funds 36 36 — — Mutual funds measured at net asset value 1,184 1,184 — — Debt securities, available-for-sale: U.S. Treasury notes 75,817 75,817 — — U.S. Agency notes 77,599 — 77,599 — Corporate bonds 5,885 — 5,885 — U.S. Agency mortgage-backed securities 81,251 — 81,251 — Municipal securities: Non-taxable 8,692 — 8,692 — Taxable 41,175 — 41,175 — Total recurring fair value measurements $ 292,594 77,992 214,602 — Nonrecurring fair value measurements: Impaired loans $ 958 — — 958 Total nonrecurring fair value measurements $ 958 — — 958 December 31, 2021 Recurring fair value measurements: Equity securities with a readily determinable fair value: Equity securities $ 1,167 1,167 — — Mutual funds 51 51 — — Mutual funds measured at net asset value 1,328 1,328 — — Debt securities, available-for-sale: U.S. Treasury notes 74,744 74,744 — — U.S. Agency notes 87,246 — 87,246 — Corporate bonds 5,152 — 5,152 — U.S. Agency mortgage-backed securities 96,676 — 96,676 — Municipal securities: Non-taxable 9,066 — 9,066 — Taxable 35,293 — 35,293 — Total recurring fair value measurements $ 310,723 77,290 233,433 — Nonrecurring fair value measurements: Impaired loans $ 1,011 — — 1,011 Total nonrecurring fair value measurements $ 1,011 — — 1,011 The following table presents quantitative information about unobservable inputs used in nonrecurring level 3 fair value measurements at September 30, 2022 and December 31, 2021 (dollars in thousands): Range Fair Value Valuation Technique Unobservable Inputs High Low Weighted Average September 30, 2022 Impaired loans $ — Estimated sales price Adjustments for comparable properties, discounts to reflect current market conditions Not applicable Impaired loans $ 958 Discounted cash flows Discount rate 8.125 % 4.625 % 6.06 % December 31, 2021 Impaired loans $ — Estimated sales price Adjustments for comparable properties, discounts to reflect current market conditions Not applicable Impaired loans 1,011 Discounted cash flows Discount rate 8.13 % 4.63 % 6.07 % Carrying amounts and estimated fair values of financial instruments as of September 30, 2022 and December 31, 2021 were as follows (in thousands): Fair Value Measurements at the End of Carrying Fair Quoted Significant Other Observable Inputs Significant Unobservable Inputs September 30, 2022 FINANCIAL ASSETS: Cash and cash equivalents $ 29,460 29,460 29,460 — — Debt securities, held-to-maturity 22,415 20,927 — — 20,927 Loans, net 1,371,045 1,206,806 — — 1,206,806 Accrued interest receivable 7,622 7,622 — 7,622 — FINANCIAL LIABILITIES: Deposits 1,657,370 1,657,818 1,500,286 157,532 — Short-term borrowings 4,000 4,000 4,000 — — Long-term debt 24,539 24,015 — 24,015 — Accrued interest payable 233 233 — 233 — December 31, 2021 FINANCIAL ASSETS: Cash and cash equivalents $ 18,136 18,136 18,136 — — Debt securities, held-to-maturity 22,972 23,087 — — 23,087 Loans, net 1,363,939 1,333,840 — — 1,333,840 Accrued interest receivable 7,999 7,999 — 7,999 — FINANCIAL LIABILITIES: Deposits 1,628,819 1,630,158 1,435,487 194,671 — Long-term debt 10,000 10,292 — 10,292 — Accrued interest payable 277 277 — 277 — 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 September 30, 2022 and December 31, 2021. |
Accounting Policies (Policies)
Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2022 | |
Accounting Policies [Abstract] | |
Recent Accounting Pronouncements | Accounting Changes From time to time the FASB issues an ASU to communicate changes to U.S. GAAP. The following information provides brief summaries of ASUs that have recently become effective: Financial Accounting Standards (“FASB”) Accounting Standards Update (“ASU”) No. 2020-04, "Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting" ASU No. 2020-04 was issued in March 2020 and provides optional guidance for a limited period of time to ease the potential burden in accounting for or recognizing the effects of reference rate reform on financial reporting. The amendments provide optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. The amendments in this update are effective for all entities as of March 12, 2020 through December 31, 2022. LCNB does not expect the guidance in ASU No. 2020-04 will have a material impact on its results of consolidated operations or financial position. 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 and was adopted by LCNB on January 1, 2021. 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 to be applied on a retrospective basis to all periods presented upon adoption. Adoption of ASU No. 2018-14 did not have a material impact on LCNB's results of consolidated operations or financial position. Recent Accounting Pronouncements 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 consolidated 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 composed of members from the lending, Wealth Management, and finance departments. During 2017, the CECL Committee 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, analyzed its pool segmentation and reporting mechanisms, and has finished back testing in preparation for adoption of the new methodology. Management has chosen the Discounted Cash Flow methodology for all loan pools except for the farm real estate and agricultural pools, which will use the Weighted Average Remaining Maturity (WARM) methodology. While the committee and management expect that implementation of ASU No. 2016-13 will increase the balance of the allowance for loan losses by a range of 24% to 53%, they are continuing to evaluate the modeling and its potential impact on LCNB's results of consolidated operations and financial position. A second, updated back test is currently in process. LCNB is also developing internal control processes and disclosure documentation related to adoption of this standard. ASU No. 2022-02, "Financial Instruments - Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures" ASU No. 2022-02 was issued in March 2022 and, once effective, will eliminate the accounting guidance on TDRs for creditors who have adopted ASU No. 2016-13 and provides for enhanced disclosures for certain modifications to borrowers experiencing financial difficulties. The update also amends the guidance on vintage disclosures for public business entities, as defined, to require the disclosure of current-period gross charge-offs by year of origination. For entities that have adopted ASU No. 2016-13, the update is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. For entities that have not yet adopted ASU No. 2016-13, this update needs to be adopted at the same time that ASU No. 2016-13 is adopted. Early adoption is permitted if an entity has already adopted ASU No. 2016-13. Adoption of ASU No. 2022-02 is not expected to have a material impact on LCNB's results of consolidated operations or financial position. |
Investment Securities (Tables)
Investment Securities (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Investments, Debt and Equity Securities [Abstract] | |
Gain (Loss) on Securities | Changes in the fair value of equity securities with a readily determinable fair value for the three and nine months ended September 30, 2022 and 2021 were due solely to changes in unrealized gains and losses. |
Realized Gain (Loss) on Investments | |
Marketable Securities | The cost and estimated fair value of equity securities with a readily determinable fair value at September 30, 2022 and December 31, 2021 are summarized as follows (in thousands): September 30, 2022 December 31, 2021 Cost Fair Cost Fair Mutual funds $ 1,423 1,220 1,410 1,379 Equity securities 778 955 778 1,167 Total equity securities with a readily determinable fair value $ 2,201 2,175 2,188 2,546 |
Investments Classified by Contractual Maturity Date | Contractual maturities of debt securities at September 30, 2022 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 Fair Amortized Fair Due within one year $ 7,146 7,071 1,671 1,662 Due from one to five years 116,308 105,061 4,923 4,680 Due from five to ten years 112,618 96,423 2,888 2,606 Due after ten years 730 613 12,933 11,979 236,802 209,168 22,415 20,927 U.S. Agency mortgage-backed securities 93,288 81,251 — — $ 330,090 290,419 22,415 20,927 |
Schedule of Unrealized Loss on Investments | Information concerning debt securities with gross unrealized losses at September 30, 2022 and December 31, 2021, 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 Unrealized Fair Unrealized September 30, 2022 Available-for-Sale: U.S. Treasury notes $ 16,461 1,011 59,356 8,162 U.S. Agency notes 11,993 1,280 65,606 10,317 Corporate bonds 4,244 556 1,641 259 U.S. Agency mortgage-backed securities 47,713 4,824 32,914 7,220 Municipal securities: Non-taxable 7,367 392 861 155 Taxable 23,869 2,117 17,062 3,389 $ 111,647 10,180 177,440 29,502 Held-to-Maturity: Municipal securities: Non-taxable $ 11,973 980 — — Taxable 2,822 472 239 36 $ 14,795 1,452 239 36 December 31, 2021 Available-for-Sale: U.S. Treasury notes $ 66,891 756 — — U.S. Agency notes 58,648 1,257 20,289 835 Corporate Bonds 3,898 102 484 16 U.S. Agency mortgage-backed securities 49,813 692 — — Municipal securities: Non-taxable 1,020 18 — — Taxable 18,434 322 3,535 124 $ 198,704 3,147 24,308 975 Held-to-Maturity: Municipal securities: Non-taxable $ 46 — — — Taxable 271 4 — — $ 317 4 — — |
Unrealized Gain (Loss) on Investments | The amortized cost and estimated fair value of debt securities at September 30, 2022 and December 31, 2021 are summarized as follows (in thousands): Amortized Unrealized Unrealized Fair September 30, 2022 Debt Securities, Available-for-Sale: U.S. Treasury notes $ 84,990 — 9,173 75,817 U.S. Agency notes 89,196 — 11,597 77,599 Corporate bonds 6,700 — 815 5,885 U.S. Agency mortgage-backed securities 93,288 7 12,044 81,251 Municipal securities: Non-taxable 9,239 — 547 8,692 Taxable 46,677 4 5,506 41,175 $ 330,090 11 39,682 290,419 Debt Securities, Held-to-Maturity: Municipal securities: Non-taxable $ 18,846 — 980 17,866 Taxable 3,569 — 508 3,061 $ 22,415 — 1,488 20,927 December 31, 2021 Debt Securities, Available-for-Sale: U.S. Treasury notes $ 75,443 57 756 74,744 U.S. Agency notes 89,293 45 2,092 87,246 Corporate Bonds 5,200 70 118 5,152 U.S. Agency mortgage-backed securities 96,018 1,350 692 96,676 Municipal securities: Non-taxable 8,959 125 18 9,066 Taxable 35,208 531 446 35,293 $ 310,121 2,178 4,122 308,177 Debt Securities, Held-to-Maturity: Municipal securities: Non-taxable $ 19,403 98 — 19,501 Taxable 3,569 21 4 3,586 $ 22,972 119 4 23,087 |
Loans (Tables)
Loans (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
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 nine months ended September 30, 2022 and 2021 and that were determined to be troubled debt restructurings follows (in thousands): 2022 2021 Impaired loans without a valuation allowance $ — 101 Impaired loans with a valuation allowance — — |
Financing Receivable, Troubled Debt Restructuring [Table Text Block] | Loan modifications that were classified as TDRs during the three and nine months ended September 30, 2022 and 2021 were as follows (dollars in thousands): 2022 2021 Number Pre-Modification Recorded Balance Post-Modification Recorded Balance Number of Loans Pre-Modification Recorded Balance Post-Modification Recorded Balance Three Months Ended September 30, Residential real estate — — — 1 49 49 Total — $ — — 1 $ 49 49 Nine Months Ended September 30, Residential real estate — — — 3 97 101 Total — $ — $ — 3 $ 97 $ 101 |
Major Classifications of Loans | Major classifications of loans at September 30, 2022 and December 31, 2021 were as follows (in thousands): September 30, 2022 December 31, 2021 Commercial & industrial $ 114,763 101,598 Commercial, secured by real estate 906,408 887,679 Residential real estate 317,250 335,106 Consumer 29,566 34,291 Agricultural 8,651 10,649 Other loans, including deposit overdrafts 51 122 Loans, gross 1,376,689 1,369,445 Less allowance for loan losses 5,644 5,506 Loans, net $ 1,371,045 1,363,939 Loans in the above table are shown net of deferred origination fees and costs. Deferred origination fees, net of related costs, were $937,000 and $961,000 at September 30, 2022 and December 31, 2021, respectively. |
Non-accrual, Past Due, and Accruing Restructured Loans | Non-accrual, past-due 90 days or more and still accruing, and accruing restructured loans as of September 30, 2022 and December 31, 2021 were as follows (in thousands): September 30, 2022 December 31, 2021 Non-accrual loans: Commercial, secured by real estate $ 356 1,182 Residential real estate 109 299 Total non-accrual loans 465 1,481 Past-due 90 days or more and still accruing — 56 Total non-accrual and past-due 90 days or more and still accruing 465 1,537 Accruing troubled debt restructured loans 1,282 2,622 Total $ 1,747 4,159 |
Allowance for Loan Losses and Recorded Investments in Loans | The allowance for loan losses for the three and nine months ended September 30, 2022 and 2021 were as follows (in thousands): Commercial Commercial, Secured by Residential Consumer Agricultural Other Total Three Months Ended September 30, 2022 Balance, beginning of period $ 1,287 3,825 625 67 18 11 5,833 Provision for (recovery of) loan losses (33) (164) 7 19 2 12 (157) Losses charged off — — — (14) — (39) (53) Recoveries — — — — — 21 21 Balance, end of period $ 1,254 3,661 632 72 20 5 5,644 Nine Months Ended September 30, 2022 Balance, beginning of year $ 1,095 3,607 665 105 30 4 5,506 Provision for (recovery of) loan losses 159 121 (47) (14) (10) 60 269 Losses charged off — (67) (5) (19) — (115) (206) Recoveries — — 19 — — 56 75 Balance, end of period $ 1,254 3,661 632 72 20 5 5,644 Three Months Ended September 30, 2021 Balance, beginning of period $ 1,043 3,743 697 122 37 10 5,652 Provision for (recovery of) loan losses (38) 368 (31) (9) (1) 17 306 Losses charged off — (110) — (4) — (32) (146) Recoveries — — — — — 16 16 Balance, end of period $ 1,005 4,001 666 109 36 11 5,828 Nine Months Ended September 30, 2021 Balance, beginning of year $ 816 3,903 837 153 28 (9) 5,728 Provision for (recovery of) loan losses 189 210 (183) (37) 8 52 239 Losses charged off — (112) (16) (9) — (75) (212) Recoveries — — 28 2 — 43 73 Balance, end of period $ 1,005 4,001 666 109 36 11 5,828 A breakdown of the allowance for loan losses and the loan portfolio by loan segment at September 30, 2022 and December 31, 2021 were as follows (in thousands): Commercial Commercial, Secured by Residential Consumer Agricultural Other Total September 30, 2022 Allowance for loan losses: Individually evaluated for impairment $ 4 12 9 — — — 25 Collectively evaluated for impairment 1,250 3,636 623 72 20 5 5,606 Acquired credit impaired loans — 13 — — — — 13 Balance, end of period $ 1,254 3,661 632 72 20 5 5,644 Loans: Individually evaluated for impairment $ 125 1,010 491 — — — 1,626 Collectively evaluated for impairment 114,142 904,664 315,972 29,566 8,651 51 1,373,046 Acquired credit impaired loans 496 734 787 — — — 2,017 Balance, end of period $ 114,763 906,408 317,250 29,566 8,651 51 1,376,689 December 31, 2021 Allowance for loan losses: Individually evaluated for impairment $ 5 11 9 — — — 25 Collectively evaluated for impairment 1,090 3,596 656 105 30 4 5,481 Acquired credit impaired loans — — — — — — — Balance, end of period $ 1,095 3,607 665 105 30 4 5,506 Loans: Individually evaluated for impairment $ 155 2,945 559 — — — 3,659 Collectively evaluated for impairment 101,355 883,122 333,384 34,291 10,649 122 1,362,923 Acquired credit impaired loans 88 1,612 1,163 — — — 2,863 Balance, end of period $ 101,598 887,679 335,106 34,291 10,649 122 1,369,445 |
Analysis of the Company's Loan Portfolio by Credit Quality Indicators | A breakdown of the loan portfolio by credit quality indicators at September 30, 2022 and December 31, 2021 is as follows (in thousands): Pass OAEM Substandard Doubtful Total September 30, 2022 Commercial & industrial $ 109,658 3,459 1,646 — 114,763 Commercial, secured by real estate 882,809 15,453 8,146 — 906,408 Residential real estate 315,277 — 1,973 — 317,250 Consumer 29,562 — 4 — 29,566 Agricultural 8,651 — — — 8,651 Other 51 — — — 51 Total $ 1,346,008 18,912 11,769 — 1,376,689 December 31, 2021 Commercial & industrial $ 98,694 2,757 147 — 101,598 Commercial, secured by real estate 851,709 22,336 13,634 — 887,679 Residential real estate 332,962 — 2,144 — 335,106 Consumer 34,281 — 10 — 34,291 Agricultural 10,649 — — — 10,649 Other 122 — — — 122 Total $ 1,328,417 25,093 15,935 — 1,369,445 |
Loan Portfolio Aging Analysis | A loan portfolio aging analysis at September 30, 2022 and December 31, 2021 is as follows (in thousands): 30-59 Days 60-89 Days Greater Than Total Current Total Loans Total Loans Greater Than September 30, 2022 Commercial & industrial $ 313 — — 313 114,450 114,763 — Commercial, secured by real estate 121 14 — 135 906,273 906,408 — Residential real estate 98 301 41 440 316,810 317,250 — Consumer 80 4 — 84 29,482 29,566 — Agricultural — — — — 8,651 8,651 — Other 51 — — 51 — 51 — Total $ 663 319 41 1,023 1,375,666 1,376,689 — December 31, 2021 Commercial & industrial $ — — — — 101,598 101,598 — Commercial, secured by real estate 181 — 784 965 886,714 887,679 — Residential real estate 1,130 1 109 1,240 333,866 335,106 51 Consumer 22 5 5 32 34,259 34,291 5 Agricultural — — — — 10,649 10,649 — Other 122 — — 122 — 122 — Total $ 1,455 6 898 2,359 1,367,086 1,369,445 56 |
Impaired Loans | Impaired loans, including acquired credit impaired loans, at September 30, 2022 and December 31, 2021 were as follows (in thousands): September 30, 2022 December 31, 2021 Recorded Investment Unpaid Principal Balance Related Allowance Recorded Investment Unpaid Principal Balance Related Allowance With no related allowance recorded: Commercial & industrial $ 496 691 — 88 316 — Commercial, secured by real estate 1,077 1,318 — 3,897 4,736 — Residential real estate 1,074 1,391 — 1,501 1,857 — Total $ 2,647 3,400 — 5,486 6,909 — With an allowance recorded: Commercial & industrial $ 125 130 4 155 160 5 Commercial, secured by real estate 667 667 25 660 660 11 Residential real estate 204 204 9 221 221 9 Total $ 996 1,001 38 1,036 1,041 25 Total: Commercial & industrial $ 621 821 4 243 476 5 Commercial, secured by real estate 1,744 1,985 25 4,557 5,396 11 Residential real estate 1,278 1,595 9 1,722 2,078 9 Total $ 3,643 4,401 38 6,522 7,950 25 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 and nine months ended September 30, 2022 and 2021 (in thousands): 2022 2021 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Three Months Ended September 30, With no related allowance recorded: Commercial & industrial $ 486 23 310 21 Commercial, secured by real estate 1,466 148 5,038 97 Residential real estate 1,169 26 2,072 43 Consumer — — — — Other — — 169 13 Total $ 3,121 197 7,589 174 With an allowance recorded: Commercial & industrial $ 130 2 170 2 Commercial, secured by real estate 672 18 671 9 Residential real estate 207 3 246 3 Consumer — — — — Other — — — — Total $ 1,009 23 1,087 14 Total: Commercial & industrial $ 616 25 480 23 Commercial, secured by real estate 2,138 166 5,709 106 Residential real estate 1,376 29 2,318 46 Consumer — — — — Other — — 169 13 Total $ 4,130 220 8,676 188 Nine Months Ended September 30, With no related allowance recorded: Commercial & industrial $ 285 52 273 64 Commercial, secured by real estate 2,543 271 6,432 299 Residential real estate 1,324 108 2,826 179 Consumer — — 2 — Other — — 180 44 Total $ 4,152 431 9,713 586 With an allowance recorded: Commercial & industrial $ 140 6 179 8 Commercial, secured by real estate 673 35 677 27 Residential real estate 213 9 251 11 Consumer — — — — Other — — — — Total $ 1,026 50 1,107 46 Total: Commercial & industrial $ 425 58 452 72 Commercial, secured by real estate 3,216 306 7,109 326 Residential real estate 1,537 117 3,077 190 Consumer — — 2 — Other — — 180 44 Total $ 5,178 481 10,820 632 |
Schedule of Troubled Debt Restructurings, Modification Type [Table Text Block] |
Acquired Credit Impaired Loans
Acquired Credit Impaired Loans (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Receivables [Abstract] | |
Schedule Of Carrying Values Of Certain Loans Acquired In A Transfer Not Accounted For As Debt Securities | The following table provides at September 30, 2022 and December 31, 2021 the major classifications of acquired credit impaired loans that are accounted for in accordance with ASC 310-30 (in thousands): September 30, 2022 December 31, 2021 Acquired from First Capital Bancshares, Inc. Commercial & industrial $ 1 1 Commercial, secured by real estate — — Residential real estate 229 398 Loans, gross 230 399 Less allowance for loan losses — — Loans, net $ 230 399 Acquired from Eaton National Bank & Trust Co. Commercial & industrial $ 433 — Commercial, secured by real estate 80 310 Residential real estate 413 463 Loans, gross 926 773 Less allowance for loan losses 13 — Loans, net $ 913 773 Acquired from BNB Bancorp, Inc. Commercial & industrial $ — — Commercial, secured by real estate 616 688 Residential real estate 48 51 Loans, gross 664 739 Less allowance for loan losses — — Loans, net $ 664 739 Acquired from Columbus First Bancorp, Inc. Commercial & industrial $ 62 87 Commercial, secured by real estate 38 614 Residential real estate 97 251 Loans, gross 197 952 Less allowance for loan losses — — Loans, net $ 197 952 Total Commercial & industrial $ 496 88 Commercial, secured by real estate 734 1,612 Residential real estate 787 1,163 Loans, gross 2,017 2,863 Less allowance for loan losses 13 — Loans, net $ 2,004 2,863 |
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): September 30, 2022 December 31, 2021 Outstanding balance $ 2,645 3,769 Carrying amount 2,017 2,863 |
Accretable discount related to acquired impaired loans | Activity during the three and nine months ended September 30, 2022 and 2021 for the accretable discount related to acquired credit impaired loans is as follows (in thousands): Three Months Ended Nine Months Ended 2022 2021 2022 2021 Accretable discount at beginning of period $ 43 84 $ 116 182 Reclassification from nonaccretable discount to accretable discount 115 22 143 65 Accretion (141) (77) (242) (218) Accretable discount at end of period $ 17 29 $ 17 29 |
Affordable Housing Tax Credit_2
Affordable Housing Tax Credit Limited Partnership (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Equity Method Investments and Joint Ventures [Abstract] | |
Activity in Affordable Housing Program Obligation | The following table presents the balances of LCNB's affordable housing tax credit investments and related unfunded commitments at September 30, 2022 and December 31, 2021 (in thousands): September 30, December 31, Affordable housing tax credit investment $ 16,950 14,950 Less amortization 3,033 2,126 Net affordable housing tax credit investment $ 13,917 12,824 Unfunded commitment $ 8,316 8,655 The following table presents other information relating to LCNB's affordable housing tax credit investments for the three and nine months ended September 30, 2022 and 2021 (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Tax credits and other tax benefits recognized $ 357 240 1,071 760 Tax credit amortization expense included in provision for income taxes 306 198 907 630 |
Borrowings (Tables)
Borrowings (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Debt Disclosure [Abstract] | |
Schedule of Long-Term Debt Instruments | at September 30, 2022 and December 31, 2021 was as follows (dollars in thousands): September 30, 2022 December 31, 2021 Amount Rate Amount Rate Term loan $ 14,539 4.25 % $ — — % FHLB long-term advances 10,000 3.00 % 10,000 3.00 % $ 24,539 3.74 % $ 10,000 3.00 % |
Schedule of Short-Term Debt | Short-term borrowings at September 30, 2022 and December 31, 2021 were as follows (dollars in thousands): September 30, 2022 December 31, 2021 Amount Rate Amount Rate Revolving line of credit $ 4,000 6.00 % $ — — % |
Leases (Tables)
Leases (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Leases [Abstract] | |
Lease, Cost | Components of lease expense for the three and nine months ended September 30, 2022 were as follows (in thousands): Three Months Ended Nine Months Ended 2022 2021 2022 2021 Operating lease expense $ 117 208 461 635 Short-term lease expense 100 11 184 36 Variable lease expense 1 1 2 3 Other 2 2 7 8 Total lease expense $ 220 222 654 682 |
Lessee, Leases, Other Information | Other information related to leases at September 30, 2022 were as follows (dollars in thousands): Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 477 Right-of-use assets obtained in exchange for new operating lease liabilities $ — Weighted average remaining lease term in years for operating leases 33.6 Weighted average discount rate for operating leases 3.45 % |
Income Taxes (Tables)
Income Taxes (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
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 September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Statutory tax rate 21.0 % 21.0 % 21.0 % 21.0 % Increase (decrease) resulting from: Tax exempt interest (0.6) % (0.8) % (0.6) % (0.7) % Tax exempt income on bank owned life insurance (0.8) % (1.0) % (0.9) % (0.9) % Captive insurance premium income (0.7) % (1.0) % (0.8) % (0.8) % Other, net (0.6) % (0.6) % (0.8) % (0.5) % Effective tax rate 18.3 % 17.6 % 17.9 % 18.1 % |
Commitments and Contingent Li_2
Commitments and Contingent Liabilities (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
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 September 30, 2022 and December 31, 2021 were as follows (in thousands): September 30, 2022 December 31, 2021 Commitments to extend credit: Commercial loans $ 35,675 82,578 Other loans Fixed rate 5,894 5,196 Adjustable rate 987 2,784 Unused lines of credit: Fixed rate 31,188 32,655 Adjustable rate 245,492 150,746 Unused overdraft protection amounts on demand and NOW accounts 16,687 16,711 Standby letters of credit 5 5 Total commitments $ 335,928 290,675 |
Accumulated Other Comprehensi_2
Accumulated Other Comprehensive Income (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
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 and nine months ended September 30, 2022 and 2021 were as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, Unrealized Gains and Losses on Available-for-Sale Debt Securities Changes in Pension Plan Assets and Benefit Obligations Total Unrealized Gains and Losses on Available-for-Sale Debt Securities Changes in Pension Plan Assets and Benefit Obligations Total 2022 Balance at beginning of period $ (21,670) (270) (21,940) (1,536) (273) (1,809) Other comprehensive (loss) income, net of taxes (9,670) 1 (9,669) (29,804) 4 (29,800) Balance at end of period $ (31,340) (269) (31,609) (31,340) (269) (31,609) 2021 Balance at beginning of period $ 1,866 (303) 1,563 4,349 (306) 4,043 Other comprehensive (loss) income, net of taxes (669) 2 (667) (3,152) 5 (3,147) Balance at end of period $ 1,197 (301) 896 1,197 (301) 896 There were no reclassifications out of accumulated other comprehensive income (loss) during the three and nine months ended September 30, 2022 and 2021. |
Schedule of Reclassifications Out of Accumulated Other Comprehensive Income |
Retirement Plans (Tables)
Retirement Plans (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
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 and nine-month period ended September 30, 2022 and 2021 were as follows (in thousands): Three Months Ended Nine Months Ended 2022 2021 2022 2021 Qualified noncontributory defined benefit retirement plan $ 342 261 958 822 401(k) plan 157 162 494 474 |
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 and nine months ended September 30, 2022 and 2021 are summarized as follows (in thousands): Three Months Ended Nine Months Ended 2022 2021 2022 2021 Interest cost $ 14 13 40 39 Amortization of unrecognized net loss 2 2 6 6 Net periodic pension cost $ 16 15 46 45 |
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, for the nonqualified defined benefit retirement plan for the three and nine months ended September 30, 2022 and 2021 were as follows (in thousands): Three Months Ended Nine Months Ended 2022 2021 2022 2021 Net actuarial gain $ (1) (2) $ (4) (5) |
Stock Based Compensation (Table
Stock Based Compensation (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Share-Based Payment Arrangement [Abstract] | |
Summary of Stock Option Activity | he following table summarizes stock option activity for the periods indicated: Nine Months Ended September 30, 2022 2021 Options Weighted Average Exercise Options Weighted Average Exercise Outstanding, January 1, — $ — 311 $ 12.60 Exercised — — (311) 12.60 Outstanding, September 30, — — — — |
Summary of Restricted Stock Awards Activity | Restricted stock awards granted under the 2015 Plan were as follows: 2022 2021 Weighted Average Grant Date Fair Value Weighted Average Grant Date Fair Value Outstanding, January 1, 44,512 $ 17.08 28,596 $ 17.42 Granted 32,554 19.25 26,321 16.85 Vested (18,814) 18.01 (8,959) 17.54 Forfeited — — (756) 16.86 Outstanding, September 30, 58,252 $ 17.99 45,202 $ 17.08 |
Schedule of Information Related to Stock Options Exercised | The following table provides information related to stock options exercised during the periods indicated (in thousands): Nine Months Ended September 30, 2022 2021 Intrinsic value of options exercised $ — 1 Cash received from options exercised — 4 Tax benefit realized from options exercised — — |
Share-based Payment Arrangement, Expensed and Capitalized, Amount | The following table presents expense recorded in salaries and employee benefits for restricted stock awards and the related tax information for the three and nine months ended September 30, 2022 and 2021 (in thousands): Three Months Ended Nine Months Ended 2022 2021 2022 2021 Restricted stock expense $ 113 51 417 196 Tax effect 24 11 88 41 |
Earnings Per Common Share (Tabl
Earnings Per Common Share (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Earnings Per Share [Abstract] | |
Computations of Earnings per Common Share | Earnings per share for the three and nine months ended September 30, 2022 and 2021 were calculated as follows (dollars in thousands, except share and per share data): Three Months Ended Nine Months Ended 2022 2021 2022 2021 Net income $ 5,579 4,817 15,720 15,347 Less allocation of earnings and dividends to participating securities 28 18 81 56 Net income allocated to common shareholders $ 5,551 4,799 15,639 15,291 Weighted average common shares outstanding, gross 11,342,539 12,501,234 11,537,078 12,709,326 Less average participating securities 58,314 45,958 58,822 45,958 Weighted average number of shares outstanding used in the calculation of basic earnings per common share 11,284,225 12,455,276 11,478,256 12,663,368 Add dilutive effect of: Stock options — — — 10 Adjusted weighted average number of shares outstanding used in the calculation of diluted earnings per common share 11,284,225 12,455,276 11,478,256 12,663,378 Earnings per common share: Basic $ 0.49 0.39 1.36 1.21 Diluted 0.49 0.39 1.36 1.21 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
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 September 30, 2022 and December 31, 2021 (in thousands): Fair Value Measurements at the End of Fair Value Measurements Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs Significant Unobservable Inputs September 30, 2022 Recurring fair value measurements: Equity securities with a readily determinable fair value: Equity securities $ 955 955 — — Mutual funds 36 36 — — Mutual funds measured at net asset value 1,184 1,184 — — Debt securities, available-for-sale: U.S. Treasury notes 75,817 75,817 — — U.S. Agency notes 77,599 — 77,599 — Corporate bonds 5,885 — 5,885 — U.S. Agency mortgage-backed securities 81,251 — 81,251 — Municipal securities: Non-taxable 8,692 — 8,692 — Taxable 41,175 — 41,175 — Total recurring fair value measurements $ 292,594 77,992 214,602 — Nonrecurring fair value measurements: Impaired loans $ 958 — — 958 Total nonrecurring fair value measurements $ 958 — — 958 December 31, 2021 Recurring fair value measurements: Equity securities with a readily determinable fair value: Equity securities $ 1,167 1,167 — — Mutual funds 51 51 — — Mutual funds measured at net asset value 1,328 1,328 — — Debt securities, available-for-sale: U.S. Treasury notes 74,744 74,744 — — U.S. Agency notes 87,246 — 87,246 — Corporate bonds 5,152 — 5,152 — U.S. Agency mortgage-backed securities 96,676 — 96,676 — Municipal securities: Non-taxable 9,066 — 9,066 — Taxable 35,293 — 35,293 — Total recurring fair value measurements $ 310,723 77,290 233,433 — Nonrecurring fair value measurements: Impaired loans $ 1,011 — — 1,011 Total nonrecurring fair value measurements $ 1,011 — — 1,011 |
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 September 30, 2022 and December 31, 2021 (dollars in thousands): Range Fair Value Valuation Technique Unobservable Inputs High Low Weighted Average September 30, 2022 Impaired loans $ — Estimated sales price Adjustments for comparable properties, discounts to reflect current market conditions Not applicable Impaired loans $ 958 Discounted cash flows Discount rate 8.125 % 4.625 % 6.06 % December 31, 2021 Impaired loans $ — Estimated sales price Adjustments for comparable properties, discounts to reflect current market conditions Not applicable Impaired loans 1,011 Discounted cash flows Discount rate 8.13 % 4.63 % 6.07 % |
Carrying Amounts and Estimated Fair Values of Financial Instruments | Carrying amounts and estimated fair values of financial instruments as of September 30, 2022 and December 31, 2021 were as follows (in thousands): Fair Value Measurements at the End of Carrying Fair Quoted Significant Other Observable Inputs Significant Unobservable Inputs September 30, 2022 FINANCIAL ASSETS: Cash and cash equivalents $ 29,460 29,460 29,460 — — Debt securities, held-to-maturity 22,415 20,927 — — 20,927 Loans, net 1,371,045 1,206,806 — — 1,206,806 Accrued interest receivable 7,622 7,622 — 7,622 — FINANCIAL LIABILITIES: Deposits 1,657,370 1,657,818 1,500,286 157,532 — Short-term borrowings 4,000 4,000 4,000 — — Long-term debt 24,539 24,015 — 24,015 — Accrued interest payable 233 233 — 233 — December 31, 2021 FINANCIAL ASSETS: Cash and cash equivalents $ 18,136 18,136 18,136 — — Debt securities, held-to-maturity 22,972 23,087 — — 23,087 Loans, net 1,363,939 1,333,840 — — 1,333,840 Accrued interest receivable 7,999 7,999 — 7,999 — FINANCIAL LIABILITIES: Deposits 1,628,819 1,630,158 1,435,487 194,671 — Long-term debt 10,000 10,292 — 10,292 — Accrued interest payable 277 277 — 277 — |
Acquisition (Details)
Acquisition (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Business Acquisition, Equity Interests Issued or Issuable [Line Items] | ||
Common stock, shares, outstanding (in shares) | 11,293,639 | 12,414,956 |
Assets | $ 1,904,700 | $ 1,903,629 |
Interest-bearing demand deposits | 11,706 | 1,326 |
Liabilities | 1,709,261 | 1,665,025 |
Deposits | 1,657,370 | 1,628,819 |
Goodwill | $ 59,221 | $ 59,221 |
Investment Securities, Amortize
Investment Securities, Amortized Cost and Fair Value (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Debt Securities, Available-for-Sale: | ||
Amortized Cost | $ 330,090 | $ 310,121 |
Unrealized Gains | 11 | 2,178 |
Unrealized Losses | 39,682 | 4,122 |
Fair Value | 290,419 | 308,177 |
Debt Securities, Held-to-Maturity: | ||
Amortized Cost | 22,415 | 22,972 |
Unrealized Gains | 0 | 119 |
Unrealized Losses | 1,488 | 4 |
Fair Value | 20,927 | 23,087 |
Equity Securities, Amortized Cost Basis | 2,201 | 2,188 |
Equity securities with a readily determinable fair value, at fair value | 2,175 | 2,546 |
U.S. Treasury notes [Member] | ||
Debt Securities, Available-for-Sale: | ||
Amortized Cost | 84,990 | 75,443 |
Unrealized Gains | 0 | 57 |
Unrealized Losses | 9,173 | 756 |
Fair Value | 75,817 | 74,744 |
U.S. Agency notes [Member] | ||
Debt Securities, Available-for-Sale: | ||
Amortized Cost | 89,196 | 89,293 |
Unrealized Gains | 0 | 45 |
Unrealized Losses | 11,597 | 2,092 |
Fair Value | 77,599 | 87,246 |
U.S. Agency mortgage-backed securities [Member] | ||
Debt Securities, Available-for-Sale: | ||
Amortized Cost | 93,288 | 96,018 |
Unrealized Gains | 7 | 1,350 |
Unrealized Losses | 12,044 | 692 |
Fair Value | 81,251 | 96,676 |
Debt Securities, Held-to-Maturity: | ||
Amortized Cost | 0 | |
Fair Value | 0 | |
Non-taxable Municipal securities [Member] | ||
Debt Securities, Available-for-Sale: | ||
Amortized Cost | 9,239 | 8,959 |
Unrealized Gains | 0 | 125 |
Unrealized Losses | 547 | 18 |
Fair Value | 8,692 | 9,066 |
Debt Securities, Held-to-Maturity: | ||
Amortized Cost | 18,846 | 19,403 |
Unrealized Gains | 0 | 98 |
Unrealized Losses | 980 | 0 |
Fair Value | 17,866 | 19,501 |
Taxable Municipal securities [Member] | ||
Debt Securities, Available-for-Sale: | ||
Amortized Cost | 46,677 | 35,208 |
Unrealized Gains | 4 | 531 |
Unrealized Losses | 5,506 | 446 |
Fair Value | 41,175 | 35,293 |
Debt Securities, Held-to-Maturity: | ||
Amortized Cost | 3,569 | 3,569 |
Unrealized Gains | 0 | 21 |
Unrealized Losses | 508 | 4 |
Fair Value | 3,061 | 3,586 |
Mutual funds [Member] | ||
Debt Securities, Held-to-Maturity: | ||
Equity Securities, Amortized Cost Basis | 1,423 | 1,410 |
Equity securities with a readily determinable fair value, at fair value | 1,220 | 1,379 |
Equity securities [Member] | ||
Debt Securities, Held-to-Maturity: | ||
Equity Securities, Amortized Cost Basis | 778 | 778 |
Equity securities with a readily determinable fair value, at fair value | 955 | 1,167 |
Corporate Debt Securities | ||
Debt Securities, Available-for-Sale: | ||
Amortized Cost | 6,700 | 5,200 |
Unrealized Gains | 0 | 70 |
Unrealized Losses | 815 | 118 |
Fair Value | $ 5,885 | $ 5,152 |
Investment Securities, Continuo
Investment Securities, Continuous Unrealized Loss Position (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | $ 177,440 | $ 24,308 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 29,502 | 975 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 111,647 | 198,704 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 10,180 | 3,147 |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | 14,795 | 317 |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 1,452 | 4 |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value | 239 | 0 |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 36 | 0 |
U.S. Agency mortgage-backed securities [Member] | ||
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 32,914 | 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 7,220 | 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 47,713 | 49,813 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 4,824 | 692 |
Non-taxable Municipal securities [Member] | ||
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 861 | 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 155 | 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 7,367 | 1,020 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 392 | 18 |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | 11,973 | 46 |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 980 | 0 |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value | 0 | 0 |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | 0 |
Taxable Municipal securities [Member] | ||
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 17,062 | 3,535 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 3,389 | 124 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 23,869 | 18,434 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 2,117 | 322 |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | 2,822 | 271 |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 472 | 4 |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value | 239 | 0 |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 36 | 0 |
U.S. Agency notes [Member] | ||
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 65,606 | 20,289 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 10,317 | 835 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 11,993 | 58,648 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 1,280 | 1,257 |
Corporate Debt Securities | ||
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 1,641 | 484 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 259 | 16 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 4,244 | 3,898 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 556 | 102 |
US Government Debt Securities [Member] | ||
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 59,356 | 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 8,162 | 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 16,461 | 66,891 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | $ 1,011 | $ 756 |
Investment Securities, Maturiti
Investment Securities, Maturities (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Available-for-Sale, Amortized Cost | ||
Due within one year | $ 7,146 | |
Due from one to five years | 116,308 | |
Due from five to ten years | 112,618 | |
Due after ten years | 730 | |
Amortized Cost Basis | 236,802 | |
Amortized Cost | 330,090 | $ 310,121 |
Available-for-Sale, Fair Value | ||
Due within one year | 7,071 | |
Due from one to five years | 105,061 | |
Due from five to ten years | 96,423 | |
Due after ten years | 613 | |
Total available-for-sale, maturities | 209,168 | |
Fair Value | 290,419 | 308,177 |
Held-to-Maturity, Amortized Cost | ||
Due within one year | 1,671 | |
Due from one to five years | 4,923 | |
Due from five to ten years | 2,888 | |
Due after ten years | 12,933 | |
Amortized Cost | 22,415 | 22,972 |
Held-to-Maturity, Fair Value | ||
Due within one year | 1,662 | |
Due from one to five years | 4,680 | |
Due from five to ten years | 2,606 | |
Due after ten years | 11,979 | |
Held-to-maturity, fair value | 20,927 | 23,087 |
U.S. Agency mortgage-backed securities [Member] | ||
Available-for-Sale, Amortized Cost | ||
Amortized Cost | 93,288 | 96,018 |
Available-for-Sale, Fair Value | ||
Fair Value | 81,251 | $ 96,676 |
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 | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2021 | |
Debt and Equity Securities, FV-NI [Line Items] | |||
Net gains (losses) recognized | $ (384) | $ 76 | |
Equity Securities, Amortized Cost Basis | 2,201 | $ 2,188 | |
Equity securities with a readily determinable fair value, at fair value | 2,175 | 2,546 | |
Mutual funds [Member] | |||
Debt and Equity Securities, FV-NI [Line Items] | |||
Equity Securities, Amortized Cost Basis | 1,423 | 1,410 | |
Equity securities with a readily determinable fair value, at fair value | 1,220 | 1,379 | |
Equity securities [Member] | |||
Debt and Equity Securities, FV-NI [Line Items] | |||
Equity Securities, Amortized Cost Basis | 778 | 778 | |
Equity securities with a readily determinable fair value, at fair value | $ 955 | $ 1,167 |
Investment Securities (Details)
Investment Securities (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Debt Securities, Available-for-sale [Line Items] | ||
Debt securities, available-for-sale, at fair value | $ 290,419 | $ 308,177 |
Asset Pledged as Collateral | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt securities, available-for-sale, at fair value | $ 177,126 | $ 128,426 |
Loans, Major Classifications of
Loans, Major Classifications of Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Jun. 30, 2022 | Dec. 31, 2021 | Sep. 30, 2021 | Jun. 30, 2021 | Dec. 31, 2020 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans gross | $ 1,376,689 | $ 1,369,445 | ||||
Allowance for loan losses | 5,644 | $ 5,833 | 5,506 | $ 5,828 | $ 5,652 | $ 5,728 |
Total | 1,371,045 | 1,363,939 | ||||
Loans and Leases Receivable, Net of Deferred Income | 1,376,689 | 1,369,445 | ||||
Loans and Leases Receivable, Deferred Income | 937 | 961 | ||||
Commercial and industrial [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans gross | 114,763 | 101,598 | ||||
Allowance for loan losses | 1,254 | 1,287 | 1,095 | 1,005 | 1,043 | 816 |
Loans and Leases Receivable, Net of Deferred Income | 114,763 | 101,598 | ||||
Commercial, secured by real estate [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans gross | 906,408 | 887,679 | ||||
Allowance for loan losses | 3,661 | 3,825 | 3,607 | 4,001 | 3,743 | 3,903 |
Loans and Leases Receivable, Net of Deferred Income | 906,408 | 887,679 | ||||
Residential real estate [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans gross | 317,250 | 335,106 | ||||
Allowance for loan losses | 632 | 625 | 665 | 666 | 697 | 837 |
Loans and Leases Receivable, Net of Deferred Income | 317,250 | 335,106 | ||||
Consumer [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans gross | 29,566 | 34,291 | ||||
Allowance for loan losses | 72 | 67 | 105 | 109 | 122 | 153 |
Loans and Leases Receivable, Net of Deferred Income | 29,566 | 34,291 | ||||
Agricultural [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans gross | 8,651 | 10,649 | ||||
Allowance for loan losses | 20 | 18 | 30 | 36 | 37 | 28 |
Loans and Leases Receivable, Net of Deferred Income | 8,651 | 10,649 | ||||
Other loans, including deposit overdrafts [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans gross | 51 | 122 | ||||
Allowance for loan losses | 5 | $ 11 | 4 | $ 11 | $ 10 | $ (9) |
Loans and Leases Receivable, Net of Deferred Income | $ 51 | $ 122 |
Loans, Additional Information (
Loans, Additional Information (Details) - USD ($) | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2021 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Troubled debt restructurings that subsequently defaulted within 12 months of the restructuring date | $ 0 | $ 0 | |
Mortgage loans secured by residential real estate that were in the process of foreclosure | 0 | $ 58,000 | |
Loans and Leases Receivable, Net of Deferred Income | 1,376,689,000 | 1,369,445,000 | |
Loans and Leases Receivable, Deferred Income | 937,000 | 961,000 | |
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 | 145,317,000 | 149,382,000 | |
Commercial and industrial [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | $ 114,763,000 | 101,598,000 | |
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] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | $ 906,408,000 | 887,679,000 | |
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% | ||
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% | ||
Residential real estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Home equity line of credit draw period | 5 years | ||
Loans and Leases Receivable, Net of Deferred Income | $ 317,250,000 | 335,106,000 | |
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% | ||
Residential real estate [Member] | Maximum [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Adjustable rate period | 15 years | ||
Amortization period | 30 years | ||
Consumer [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | $ 29,566,000 | 34,291,000 | |
Consumer [Member] | Maximum [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Amortization period | 72 months | ||
Paycheck Protection Program Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Deferred Income | $ 16,000 | 272,000 | |
Loans and Leases Receivable, before Fees, Gross | $ 362,000 | $ 6,935,000 |
Loans, Past Due And Accruing Re
Loans, Past Due And Accruing Restructured (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Financing receivables, non accruals, past due, and accruing restructured loans [Line Items] | ||
Total non-accrual loans | $ 465 | $ 1,481 |
Past-due 90 days or more and still accruing | 0 | 56 |
Total non-accrual and past-due 90 days or more and still accruing | 465 | 1,537 |
Accruing troubled debt restructured loans | 1,282 | 2,622 |
Total | 1,747 | 4,159 |
Commercial Secured By Real Estate [Member] | ||
Financing receivables, non accruals, past due, and accruing restructured loans [Line Items] | ||
Total non-accrual loans | 356 | 1,182 |
Residential Real Estate [Member] | ||
Financing receivables, non accruals, past due, and accruing restructured loans [Line Items] | ||
Total non-accrual loans | $ 109 | $ 299 |
Loans, Allowance for Loan Losse
Loans, Allowance for Loan Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Allowance for loan losses [Roll Forward] | ||||
Balance, beginning of period | $ 5,833 | $ 5,652 | $ 5,506 | $ 5,728 |
Provision for (recovery of) loan losses | (157) | 306 | 269 | 239 |
Losses charged off | (53) | (146) | (206) | (212) |
Recoveries | 21 | 16 | 75 | 73 |
Balance, end of period | 5,644 | 5,828 | 5,644 | 5,828 |
Commercial and industrial [Member] | ||||
Allowance for loan losses [Roll Forward] | ||||
Balance, beginning of period | 1,287 | 1,043 | 1,095 | 816 |
Provision for (recovery of) loan losses | (33) | (38) | 159 | 189 |
Losses charged off | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
Balance, end of period | 1,254 | 1,005 | 1,254 | 1,005 |
Commercial Secured By Real Estate [Member] | ||||
Allowance for loan losses [Roll Forward] | ||||
Balance, beginning of period | 3,825 | 3,743 | 3,607 | 3,903 |
Provision for (recovery of) loan losses | (164) | 368 | 121 | 210 |
Losses charged off | 0 | (110) | (67) | (112) |
Recoveries | 0 | 0 | 0 | 0 |
Balance, end of period | 3,661 | 4,001 | 3,661 | 4,001 |
Residential Real Estate [Member] | ||||
Allowance for loan losses [Roll Forward] | ||||
Balance, beginning of period | 625 | 697 | 665 | 837 |
Provision for (recovery of) loan losses | 7 | (31) | (47) | (183) |
Losses charged off | 0 | 0 | (5) | (16) |
Recoveries | 0 | 0 | 19 | 28 |
Balance, end of period | 632 | 666 | 632 | 666 |
Consumer [Member] | ||||
Allowance for loan losses [Roll Forward] | ||||
Balance, beginning of period | 67 | 122 | 105 | 153 |
Provision for (recovery of) loan losses | 19 | (9) | (14) | (37) |
Losses charged off | (14) | (4) | (19) | (9) |
Recoveries | 0 | 0 | 0 | 2 |
Balance, end of period | 72 | 109 | 72 | 109 |
Agricultural [Member] | ||||
Allowance for loan losses [Roll Forward] | ||||
Balance, beginning of period | 18 | 37 | 30 | 28 |
Provision for (recovery of) loan losses | 2 | (1) | (10) | 8 |
Losses charged off | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
Balance, end of period | 20 | 36 | 20 | 36 |
Other [Member] | ||||
Allowance for loan losses [Roll Forward] | ||||
Balance, beginning of period | 11 | 10 | 4 | (9) |
Provision for (recovery of) loan losses | 12 | 17 | 60 | 52 |
Losses charged off | (39) | (32) | (115) | (75) |
Recoveries | 21 | 16 | 56 | 43 |
Balance, end of period | $ 5 | $ 11 | $ 5 | $ 11 |
Loans, Allowance for Loan Los_2
Loans, Allowance for Loan Losses and Loan Portfolio by Segment (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Jun. 30, 2022 | Dec. 31, 2021 | Sep. 30, 2021 | Jun. 30, 2021 | Dec. 31, 2020 |
Allowance for loan losses: | ||||||
Individually evaluated for impairment | $ 25 | $ 25 | ||||
Collectively evaluated for impairment | 5,606 | 5,481 | ||||
Acquired credit impaired loans | 13 | 0 | ||||
Allowance for loan losses | 5,644 | $ 5,833 | 5,506 | $ 5,828 | $ 5,652 | $ 5,728 |
Loans: | ||||||
Individually evaluated for impairment | 1,626 | 3,659 | ||||
Collectively evaluated for impairment | 1,373,046 | 1,362,923 | ||||
Acquired credit impaired loans | 2,017 | 2,863 | ||||
Loans gross | 1,376,689 | 1,369,445 | ||||
Financial Asset Acquired with Credit Deterioration [Member] | ||||||
Loans: | ||||||
Acquired credit impaired loans | 2,017 | 2,863 | ||||
Commercial and industrial [Member] | ||||||
Allowance for loan losses: | ||||||
Individually evaluated for impairment | 4 | 5 | ||||
Collectively evaluated for impairment | 1,250 | 1,090 | ||||
Acquired credit impaired loans | 0 | 0 | ||||
Allowance for loan losses | 1,254 | 1,287 | 1,095 | 1,005 | 1,043 | 816 |
Loans: | ||||||
Individually evaluated for impairment | 125 | 155 | ||||
Collectively evaluated for impairment | 114,142 | 101,355 | ||||
Loans gross | 114,763 | 101,598 | ||||
Commercial and industrial [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||||||
Loans: | ||||||
Acquired credit impaired loans | 496 | 88 | ||||
Commercial Secured By Real Estate [Member] | ||||||
Allowance for loan losses: | ||||||
Individually evaluated for impairment | 12 | 11 | ||||
Collectively evaluated for impairment | 3,636 | 3,596 | ||||
Acquired credit impaired loans | 13 | 0 | ||||
Allowance for loan losses | 3,661 | 3,825 | 3,607 | 4,001 | 3,743 | 3,903 |
Loans: | ||||||
Individually evaluated for impairment | 1,010 | 2,945 | ||||
Collectively evaluated for impairment | 904,664 | 883,122 | ||||
Loans gross | 906,408 | 887,679 | ||||
Commercial Secured By Real Estate [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||||||
Loans: | ||||||
Acquired credit impaired loans | 734 | 1,612 | ||||
Residential Real Estate [Member] | ||||||
Allowance for loan losses: | ||||||
Individually evaluated for impairment | 9 | 9 | ||||
Collectively evaluated for impairment | 623 | 656 | ||||
Acquired credit impaired loans | 0 | 0 | ||||
Allowance for loan losses | 632 | 625 | 665 | 666 | 697 | 837 |
Loans: | ||||||
Individually evaluated for impairment | 491 | 559 | ||||
Collectively evaluated for impairment | 315,972 | 333,384 | ||||
Loans gross | 317,250 | 335,106 | ||||
Residential Real Estate [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||||||
Loans: | ||||||
Acquired credit impaired loans | 787 | 1,163 | ||||
Consumer [Member] | ||||||
Allowance for loan losses: | ||||||
Individually evaluated for impairment | 0 | 0 | ||||
Collectively evaluated for impairment | 72 | 105 | ||||
Acquired credit impaired loans | 0 | 0 | ||||
Allowance for loan losses | 72 | 67 | 105 | 109 | 122 | 153 |
Loans: | ||||||
Individually evaluated for impairment | 0 | 0 | ||||
Collectively evaluated for impairment | 29,566 | 34,291 | ||||
Loans gross | 29,566 | 34,291 | ||||
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 | 20 | 30 | ||||
Acquired credit impaired loans | 0 | 0 | ||||
Allowance for loan losses | 20 | 18 | 30 | 36 | 37 | 28 |
Loans: | ||||||
Individually evaluated for impairment | 0 | 0 | ||||
Collectively evaluated for impairment | 8,651 | 10,649 | ||||
Loans gross | 8,651 | 10,649 | ||||
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 | 5 | 4 | ||||
Acquired credit impaired loans | 0 | 0 | ||||
Allowance for loan losses | 5 | $ 11 | 4 | $ 11 | $ 10 | $ (9) |
Loans: | ||||||
Individually evaluated for impairment | 0 | 0 | ||||
Collectively evaluated for impairment | 51 | 122 | ||||
Loans gross | 51 | 122 | ||||
Other [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||||||
Loans: | ||||||
Acquired credit impaired loans | $ 0 | $ 0 |
Loans, Loans Portfolio by Credi
Loans, Loans Portfolio by Credit Quality Indicators (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans, net of deferred origination costs (fees) | $ 1,376,689 | $ 1,369,445 |
Commercial and industrial [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans, net of deferred origination costs (fees) | 114,763 | 101,598 |
Commercial, secured by real estate [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans, net of deferred origination costs (fees) | 906,408 | 887,679 |
Residential real estate [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans, net of deferred origination costs (fees) | 317,250 | 335,106 |
Consumer [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans, net of deferred origination costs (fees) | 29,566 | 34,291 |
Agricultural [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans, net of deferred origination costs (fees) | 8,651 | 10,649 |
Other [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans, net of deferred origination costs (fees) | 51 | 122 |
Pass [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans, net of deferred origination costs (fees) | 1,346,008 | 1,328,417 |
Pass [Member] | Commercial and industrial [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans, net of deferred origination costs (fees) | 109,658 | 98,694 |
Pass [Member] | Commercial, secured by real estate [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans, net of deferred origination costs (fees) | 882,809 | 851,709 |
Pass [Member] | Residential real estate [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans, net of deferred origination costs (fees) | 315,277 | 332,962 |
Pass [Member] | Consumer [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans, net of deferred origination costs (fees) | 29,562 | 34,281 |
Pass [Member] | Agricultural [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans, net of deferred origination costs (fees) | 8,651 | 10,649 |
Pass [Member] | Other [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans, net of deferred origination costs (fees) | 51 | 122 |
OAEM [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans, net of deferred origination costs (fees) | 18,912 | 25,093 |
OAEM [Member] | Commercial and industrial [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans, net of deferred origination costs (fees) | 3,459 | 2,757 |
OAEM [Member] | Commercial, secured by real estate [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans, net of deferred origination costs (fees) | 15,453 | 22,336 |
OAEM [Member] | Residential real estate [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans, net of deferred origination costs (fees) | 0 | 0 |
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) | 11,769 | 15,935 |
Substandard [Member] | Commercial and industrial [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans, net of deferred origination costs (fees) | 1,646 | 147 |
Substandard [Member] | Commercial, secured by real estate [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans, net of deferred origination costs (fees) | 8,146 | 13,634 |
Substandard [Member] | Residential real estate [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans, net of deferred origination costs (fees) | 1,973 | 2,144 |
Substandard [Member] | Consumer [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans, net of deferred origination costs (fees) | 4 | 10 |
Substandard [Member] | Agricultural [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans, net of deferred origination costs (fees) | 0 | 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 | Sep. 30, 2022 | Dec. 31, 2021 |
Financing Receivable, Past Due [Line Items] | ||
Loans gross | $ 1,376,689 | $ 1,369,445 |
Total Loans Greater Than 90 Days and Accruing | 0 | 56 |
Financial Asset, Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans gross | 1,023 | 2,359 |
30-59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans gross | 663 | 1,455 |
60-89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans gross | 319 | 6 |
Greater Than 90 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans gross | 41 | 898 |
Financial Asset, Not Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans gross | 1,375,666 | 1,367,086 |
Commercial and industrial [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans gross | 114,763 | 101,598 |
Total Loans Greater Than 90 Days and Accruing | 0 | 0 |
Commercial and industrial [Member] | Financial Asset, Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans gross | 313 | 0 |
Commercial and industrial [Member] | 30-59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans gross | 313 | 0 |
Commercial and industrial [Member] | 60-89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans gross | 0 | 0 |
Commercial and industrial [Member] | Greater Than 90 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans gross | 0 | 0 |
Commercial and industrial [Member] | Financial Asset, Not Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans gross | 114,450 | 101,598 |
Commercial, secured by real estate [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans gross | 906,408 | 887,679 |
Total Loans Greater Than 90 Days and Accruing | 0 | 0 |
Commercial, secured by real estate [Member] | Financial Asset, Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans gross | 135 | 965 |
Commercial, secured by real estate [Member] | 30-59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans gross | 121 | 181 |
Commercial, secured by real estate [Member] | 60-89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans gross | 14 | 0 |
Commercial, secured by real estate [Member] | Greater Than 90 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans gross | 0 | 784 |
Commercial, secured by real estate [Member] | Financial Asset, Not Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans gross | 906,273 | 886,714 |
Residential real estate [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans gross | 317,250 | 335,106 |
Total Loans Greater Than 90 Days and Accruing | 0 | 51 |
Residential real estate [Member] | Financial Asset, Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans gross | 440 | 1,240 |
Residential real estate [Member] | 30-59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans gross | 98 | 1,130 |
Residential real estate [Member] | 60-89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans gross | 301 | 1 |
Residential real estate [Member] | Greater Than 90 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans gross | 41 | 109 |
Residential real estate [Member] | Financial Asset, Not Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans gross | 316,810 | 333,866 |
Consumer [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans gross | 29,566 | 34,291 |
Total Loans Greater Than 90 Days and Accruing | 0 | 5 |
Consumer [Member] | Financial Asset, Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans gross | 84 | 32 |
Consumer [Member] | 30-59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans gross | 80 | 22 |
Consumer [Member] | 60-89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans gross | 4 | 5 |
Consumer [Member] | Greater Than 90 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans gross | 0 | 5 |
Consumer [Member] | Financial Asset, Not Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans gross | 29,482 | 34,259 |
Agricultural [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans gross | 8,651 | 10,649 |
Total Loans Greater Than 90 Days and Accruing | 0 | 0 |
Agricultural [Member] | Financial Asset, Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans gross | 0 | 0 |
Agricultural [Member] | 30-59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans gross | 0 | 0 |
Agricultural [Member] | 60-89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans gross | 0 | 0 |
Agricultural [Member] | Greater Than 90 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans gross | 0 | 0 |
Agricultural [Member] | Financial Asset, Not Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans gross | 8,651 | 10,649 |
Other [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans gross | 51 | 122 |
Total Loans Greater Than 90 Days and Accruing | 0 | 0 |
Other [Member] | Financial Asset, Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans gross | 51 | 122 |
Other [Member] | 30-59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans gross | 51 | 122 |
Other [Member] | 60-89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans gross | 0 | 0 |
Other [Member] | Greater Than 90 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans gross | 0 | 0 |
Other [Member] | Financial Asset, Not Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Loans gross | $ 0 | $ 0 |
Loans, Impaired Loans (Details)
Loans, Impaired Loans (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2021 | |
Recorded Investment | |||||
With no related allowance recorded | $ 2,647 | $ 2,647 | $ 5,486 | ||
With an allowance recorded | 996 | 996 | 1,036 | ||
Total | 3,643 | 3,643 | 6,522 | ||
Unpaid Principal Balance | |||||
With no related allowance recorded | 3,400 | 3,400 | 6,909 | ||
With an allowance recorded | 1,001 | 1,001 | 1,041 | ||
Total | 4,401 | 4,401 | 7,950 | ||
Related Allowance | |||||
With an allowance recorded | 38 | 38 | 25 | ||
Average Recorded Investment | |||||
With no related allowance recorded | 3,121 | $ 7,589 | 4,152 | $ 9,713 | |
With an allowance recorded | 1,009 | 1,087 | 1,026 | 1,107 | |
Total | 4,130 | 8,676 | 5,178 | 10,820 | |
Interest Income Recognized | |||||
With no related allowance recorded | 197 | 174 | 431 | 586 | |
With an allowance recorded | 23 | 14 | 50 | 46 | |
Total | 220 | 188 | 481 | 632 | |
Cash basis interest expense on impaired loans | 4 | 0 | |||
Cash basis interest expense on impaired loans | 4 | 0 | |||
Commercial and industrial [Member] | |||||
Recorded Investment | |||||
With no related allowance recorded | 496 | 496 | 88 | ||
With an allowance recorded | 125 | 125 | 155 | ||
Total | 621 | 621 | 243 | ||
Unpaid Principal Balance | |||||
With no related allowance recorded | 691 | 691 | 316 | ||
With an allowance recorded | 130 | 130 | 160 | ||
Total | 821 | 821 | 476 | ||
Related Allowance | |||||
With an allowance recorded | 4 | 4 | 5 | ||
Average Recorded Investment | |||||
With no related allowance recorded | 486 | 310 | 285 | 273 | |
With an allowance recorded | 130 | 170 | 140 | 179 | |
Total | 616 | 480 | 425 | 452 | |
Interest Income Recognized | |||||
With no related allowance recorded | 23 | 21 | 52 | 64 | |
With an allowance recorded | 2 | 2 | 6 | 8 | |
Total | 25 | 23 | 58 | 72 | |
Commercial, secured by real estate [Member] | |||||
Recorded Investment | |||||
With no related allowance recorded | 1,077 | 1,077 | 3,897 | ||
With an allowance recorded | 667 | 667 | 660 | ||
Total | 1,744 | 1,744 | 4,557 | ||
Unpaid Principal Balance | |||||
With no related allowance recorded | 1,318 | 1,318 | 4,736 | ||
With an allowance recorded | 667 | 667 | 660 | ||
Total | 1,985 | 1,985 | 5,396 | ||
Related Allowance | |||||
With an allowance recorded | 25 | 25 | 11 | ||
Average Recorded Investment | |||||
With no related allowance recorded | 1,466 | 5,038 | 2,543 | 6,432 | |
With an allowance recorded | 672 | 671 | 673 | 677 | |
Total | 2,138 | 5,709 | 3,216 | 7,109 | |
Interest Income Recognized | |||||
With no related allowance recorded | 148 | 97 | 271 | 299 | |
With an allowance recorded | 18 | 9 | 35 | 27 | |
Total | 166 | 106 | 306 | 326 | |
Residential real estate [Member] | |||||
Recorded Investment | |||||
With no related allowance recorded | 1,074 | 1,074 | 1,501 | ||
With an allowance recorded | 204 | 204 | 221 | ||
Total | 1,278 | 1,278 | 1,722 | ||
Unpaid Principal Balance | |||||
With no related allowance recorded | 1,391 | 1,391 | 1,857 | ||
With an allowance recorded | 204 | 204 | 221 | ||
Total | 1,595 | 1,595 | 2,078 | ||
Related Allowance | |||||
With an allowance recorded | 9 | 9 | $ 9 | ||
Average Recorded Investment | |||||
With no related allowance recorded | 1,169 | 2,072 | 1,324 | 2,826 | |
With an allowance recorded | 207 | 246 | 213 | 251 | |
Total | 1,376 | 2,318 | 1,537 | 3,077 | |
Interest Income Recognized | |||||
With no related allowance recorded | 26 | 43 | 108 | 179 | |
With an allowance recorded | 3 | 3 | 9 | 11 | |
Total | 29 | 46 | 117 | 190 | |
Consumer [Member] | |||||
Average Recorded Investment | |||||
With no related allowance recorded | 0 | 0 | 0 | 2 | |
With an allowance recorded | 0 | 0 | 0 | 0 | |
Total | 0 | 0 | 0 | 2 | |
Interest Income Recognized | |||||
With no related allowance recorded | 0 | 0 | 0 | 0 | |
With an allowance recorded | 0 | 0 | 0 | 0 | |
Total | 0 | 0 | 0 | 0 | |
Other [Member] | |||||
Average Recorded Investment | |||||
With no related allowance recorded | 0 | 169 | 0 | 180 | |
With an allowance recorded | 0 | 0 | 0 | 0 | |
Total | 0 | 169 | 0 | 180 | |
Interest Income Recognized | |||||
With no related allowance recorded | 0 | 13 | 0 | 44 | |
With an allowance recorded | 0 | 0 | 0 | 0 | |
Total | $ 0 | $ 13 | $ 0 | $ 44 |
Loans, Troubled Debt Restructur
Loans, Troubled Debt Restructuring (Details) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 USD ($) Bank_Loan | Sep. 30, 2021 USD ($) Bank_Loan | Sep. 30, 2022 USD ($) Bank_Loan | Sep. 30, 2021 USD ($) Bank_Loan | |
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Financing Receivable, Modifications, Number of Contracts | Bank_Loan | 0 | 1 | 0 | 3 |
Financing Receivable, Troubled Debt Restructuring, Premodification | $ 0 | $ 49,000 | $ 0 | $ 97,000 |
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 0 | $ 49,000 | 0 | 101,000 |
Loan modifications classified as troubled debt restructurings [Abstract] | ||||
Troubled debt restructurings that subsequently defaulted within 12 months of the restructuring date | 0 | 0 | ||
Financing Receivable, Modifications, with No Related Allowance, Recorded Investment | 0 | 101,000 | ||
Financing Receivable, Modifications, with Related Allowance, Recorded Investment - Details | $ 0 | $ 0 | ||
Residential real estate [Member] | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Financing Receivable, Modifications, Number of Contracts | Bank_Loan | 0 | 1 | 0 | 3 |
Financing Receivable, Troubled Debt Restructuring, Premodification | $ 0 | $ 49,000 | $ 0 | $ 97,000 |
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 0 | $ 49,000 | $ 0 | $ 101,000 |
Loans Loans, Troubled Debt Rest
Loans Loans, Troubled Debt Restructuring, Modification Type (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 0 | $ 49 | $ 0 | $ 101 |
Residential real estate [Member] | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 0 | $ 49 | $ 0 | $ 101 |
Acquired Credit Impaired Loans,
Acquired Credit Impaired Loans, Outstanding Balance and Carrying Value for Acquired Credit Impaired Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Jun. 30, 2022 | Dec. 31, 2021 | Sep. 30, 2021 | Jun. 30, 2021 | Dec. 31, 2020 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans gross | $ 1,376,689 | $ 1,369,445 | ||||
Allowance for loan losses | 5,644 | $ 5,833 | 5,506 | $ 5,828 | $ 5,652 | $ 5,728 |
Total | 1,371,045 | 1,363,939 | ||||
Loans: | ||||||
Outstanding balance | 2,645 | 3,769 | ||||
Carrying amount | 2,017 | 2,863 | ||||
Financial Asset Acquired with Credit Deterioration [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans gross | 2,017 | 2,863 | ||||
Allowance for loan losses | 13 | 0 | ||||
Total | 2,004 | 2,863 | ||||
Other [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans gross | 51 | 122 | ||||
Allowance for loan losses | 5 | 11 | 4 | 11 | 10 | (9) |
Residential real estate [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans gross | 317,250 | 335,106 | ||||
Allowance for loan losses | 632 | 625 | 665 | 666 | 697 | 837 |
Residential real estate [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans gross | 787 | 1,163 | ||||
Commercial, secured by real estate [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans gross | 906,408 | 887,679 | ||||
Allowance for loan losses | 3,661 | 3,825 | 3,607 | 4,001 | 3,743 | 3,903 |
Commercial, secured by real estate [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans gross | 734 | 1,612 | ||||
Commercial Portfolio Segment [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans gross | 114,763 | 101,598 | ||||
Allowance for loan losses | 1,254 | $ 1,287 | 1,095 | $ 1,005 | $ 1,043 | $ 816 |
Commercial Portfolio Segment [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans gross | 496 | 88 | ||||
First Capital Bancshares, Inc. [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans gross | 230 | 399 | ||||
Allowance for loan losses | 0 | 0 | ||||
Total | 230 | 399 | ||||
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 | 229 | 398 | ||||
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 | 0 | ||||
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 | 1 | 1 | ||||
Columbus First Bancorp, Inc. [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans gross | 197 | 952 | ||||
Allowance for loan losses | 0 | 0 | ||||
Total | 197 | 952 | ||||
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 | 97 | 251 | ||||
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 | 38 | 614 | ||||
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 | 62 | 87 | ||||
Eaton National Bank & Trust Co. [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans gross | 926 | 773 | ||||
Allowance for loan losses | 13 | 0 | ||||
Total | 913 | 773 | ||||
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 | 413 | 463 | ||||
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 | 80 | 310 | ||||
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 | 433 | 0 | ||||
BNB Bancorp, Inc [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans gross | 664 | 739 | ||||
Allowance for loan losses | 0 | 0 | ||||
Total | 664 | 739 | ||||
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 | 48 | 51 | ||||
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 | 616 | 688 | ||||
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_2
Acquired Credit Impaired Loans, Accretable Yield Related To Acquired Credit Impaired Loans (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | ||||
Accretable discount at beginning of period | $ 43 | $ 84 | $ 116 | $ 182 |
Reclassification from nonaccretable discount to accretable discount | 115 | 22 | 143 | 65 |
Accretion | (141) | (77) | (242) | (218) |
Accretable discount at end of period | $ 17 | $ 29 | $ 17 | $ 29 |
Affordable Housing Tax Credit_3
Affordable Housing Tax Credit Limited Partnership (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2021 | |
Equity Method Investments and Joint Ventures [Abstract] | |||||
Affordable housing tax credit investment | $ 16,950 | $ 16,950 | $ 14,950 | ||
Less amortization | 3,033 | 3,033 | 2,126 | ||
Net affordable housing tax credit investment | 13,917 | 13,917 | 12,824 | ||
Unfunded commitment | 8,316 | $ 8,316 | 8,655 | ||
Funding period for unfunded commitment (in years) | 13 years | ||||
Investments in Affordable Housing Projects [Abstract] | |||||
Tax credits and other tax benefits recognized | 357 | $ 240 | $ 1,071 | $ 760 | |
Tax credit amortization expense included in provision for income taxes | 306 | $ 198 | 907 | $ 630 | |
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items] | |||||
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 1,452 | 1,452 | 4 | ||
Taxable Municipal securities [Member] | |||||
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items] | |||||
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | $ 472 | $ 472 | $ 4 |
Borrowings (Details)
Borrowings (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2022 | Dec. 31, 2021 | |
Schedule of Short-Term and Long-Term Debt [Line Items] | ||
Line of Credit Facility, Remaining Borrowing Capacity | $ 206,500 | |
Asset Pledged as Collateral | Federal Home Loan Bank Advances | ||
Schedule of Short-Term and Long-Term Debt [Line Items] | ||
Debt Securities | 280,000 | $ 303,000 |
Bankers' Bank | ||
Schedule of Short-Term and Long-Term Debt [Line Items] | ||
Line of Credit Facility, Maximum Borrowing Capacity | $ 5,000 | |
Debt Instrument, Basis Spread on Variable Rate | 0.25% | |
Line of Credit Facility, Expiration Date | Jun. 15, 2023 | |
Debt Instrument [Line Items] | ||
Long-Term Debt, Percentage Bearing Fixed Interest, Percentage Rate | 4.25% | |
Zions Bank | ||
Schedule of Short-Term and Long-Term Debt [Line Items] | ||
Line of Credit Facility, Maximum Borrowing Capacity | $ 25,000 | |
US Bank | ||
Schedule of Short-Term and Long-Term Debt [Line Items] | ||
Line of Credit Facility, Maximum Borrowing Capacity | $ 30,000 | |
Debt Instrument, Basis Spread on Variable Rate | 0.50% | |
Federal Home Loan Bank, REPO Based Advance Program | Federal Home Loan Bank Of Cincinnati | ||
Schedule of Short-Term and Long-Term Debt [Line Items] | ||
Line of Credit Facility, Maximum Borrowing Capacity | $ 87,100 | |
Line of Credit Facility, Expiration Date | Feb. 08, 2023 | |
Federal Home Loan Bank, REPO Based Advance Program | Minimum [Member] | Federal Home Loan Bank Of Cincinnati | ||
Schedule of Short-Term and Long-Term Debt [Line Items] | ||
Debt Instrument, Term | 1 day | |
Federal Home Loan Bank, REPO Based Advance Program | Maximum [Member] | Federal Home Loan Bank Of Cincinnati | ||
Schedule of Short-Term and Long-Term Debt [Line Items] | ||
Debt Instrument, Term | 1 year | |
Federal Home Loan Bank, Cash Management Advance Program | Federal Home Loan Bank Of Cincinnati | ||
Schedule of Short-Term and Long-Term Debt [Line Items] | ||
Line of Credit Facility, Maximum Borrowing Capacity | $ 87,100 | |
Line of Credit Facility, Expiration Date | Feb. 08, 2023 | |
Federal Home Loan Bank, Advances, Maturity Period, Variable Rate | 90 days | |
Federal Home Loan Bank, Advances, Maturity Period, Fixed Rate | 30 days |
Borrowings Schedule of Short-Te
Borrowings Schedule of Short-Term and Long-Term Debt (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Schedule of Short-Term and Long-Term Debt [Line Items] | ||
Other Short-term Borrowings | $ 14,539 | $ 0 |
Long-term debt | 10,000 | 10,000 |
Debt, Long-term and Short-term, Combined Amount | $ 24,539 | $ 10,000 |
Short-term Debt, Weighted Average Interest Rate, at Point in Time | 4.25% | 0% |
Federal Home Loan Bank, Advances, Weighted Average Interest Rate | 3% | 3% |
Debt, Weighted Average Interest Rate | 3.74% | 3% |
Borrowings (Details)_2
Borrowings (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Short-Term Debt [Line Items] | ||
Short-term Debt | $ 4,000 | $ 0 |
Revolving Credit Facility | ||
Short-Term Debt [Line Items] | ||
Other Short-term Borrowings | $ 4,000 | $ 0 |
Short-term Debt, Weighted Average Interest Rate, at Point in Time | 6% | 0% |
Bankers' Bank | ||
Debt Instrument [Line Items] | ||
Long-Term Debt, Maturity Date | Jun. 15, 2025 |
Leases - Lease, Cost (Details)
Leases - Lease, Cost (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Leases [Abstract] | ||||
Operating lease expense | $ 117 | $ 208 | $ 461 | $ 635 |
Short-term lease expense | 100 | 11 | 184 | 36 |
Variable lease expense | 1 | 1 | 2 | 3 |
Other | 2 | 2 | 7 | 8 |
Total lease expense | $ 220 | $ 222 | $ 654 | $ 682 |
Leases Lease, Other Information
Leases Lease, Other Information (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Leases [Abstract] | ||
Cash paid for amounts included in the measurement of lease liabilities: | $ 477 | |
Right-of-use assets obtained in exchange for new operating lease liabilities | $ 0 | $ 801 |
Weighted average remaining lease term in years for operating leases | 33 years 7 months 6 days | |
Weighted average discount rate for operating leases | 3.45% |
Leases - (Details)
Leases - (Details) | Sep. 30, 2022 |
Lessee, Lease, Description [Line Items] | |
Weighted average remaining lease term in years for operating leases | 33 years 7 months 6 days |
Income Taxes (Details)
Income Taxes (Details) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Income Tax Disclosure [Abstract] | ||||
Statutory tax rate | 21% | 21% | 21% | 21% |
Increase (decrease) resulting from: | ||||
Tax exempt interest | 0.60% | 0.80% | 0.60% | 0.70% |
Tax exempt income on bank owned life insurance | (0.80%) | (1.00%) | (0.90%) | (0.90%) |
Effective Income Tax Rate Reconciliation, Captive Insurance Premium Income, Percent | (0.70%) | (1.00%) | (0.80%) | (0.80%) |
Other, net | (0.60%) | (0.60%) | (0.80%) | (0.50%) |
Effective tax rate | 18.30% | 17.60% | 17.90% | 18.10% |
Commitments and Contingent Li_3
Commitments and Contingent Liabilities (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Off-balance sheet risks, liability | $ 335,928 | $ 290,675 |
Commitments outstanding for capital expenditures | 514 | |
Commercial loans [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Off-balance sheet risks, liability | 35,675 | 82,578 |
Other loans [Member] | Fixed rate [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Off-balance sheet risks, liability | 5,894 | 5,196 |
Other loans [Member] | Adjustable rate [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Off-balance sheet risks, liability | 987 | 2,784 |
Unused lines of credit [Member] | Fixed rate [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Off-balance sheet risks, liability | 31,188 | 32,655 |
Unused lines of credit [Member] | Adjustable rate [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Off-balance sheet risks, liability | 245,492 | 150,746 |
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 | 16,687 | 16,711 |
Standby letters of credit [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Off-balance sheet risks, liability | $ 5 | $ 5 |
Accumulated Other Comprehensi_3
Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||
Balance beginning | $ 202,960 | $ 239,952 | $ 238,604 | $ 240,825 |
Other comprehensive (loss) income, net of taxes | (9,669) | (667) | (29,800) | (3,147) |
Balance ending | 195,439 | 238,419 | 195,439 | 238,419 |
Total [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||
Balance beginning | (21,940) | 1,563 | (1,809) | 4,043 |
Balance ending | (31,609) | 896 | (31,609) | 896 |
Unrealized Gains and Losses on Available-for-Sale Securities [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||
Balance beginning | (21,670) | 1,866 | (1,536) | 4,349 |
Other comprehensive (loss) income, net of taxes | (9,670) | (669) | (29,804) | (3,152) |
Balance ending | (31,340) | 1,197 | (31,340) | 1,197 |
Changes in Pension Plan Assets and Benefit Obligations [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||
Balance beginning | (270) | (303) | (273) | (306) |
Other comprehensive (loss) income, net of taxes | 1 | 2 | 4 | 5 |
Balance ending | $ (269) | $ (301) | $ (269) | $ (301) |
Accumulated Other Comprehensi_4
Accumulated Other Comprehensive Income, Reclassification of AOCI (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Income tax expense | $ 1,253 | $ 1,027 | $ 3,435 | $ 3,384 |
Retirement Plans (Details)
Retirement Plans (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Retirement Benefits [Abstract] | ||||
Automatic Annual Contribution Employees Hired Before January 1, 2009 Benefit Reduction Under Certain Amendments Minimum, percent | 5% | |||
Automatic Annual Contribution Employees Hired Before January 1, 2009 Due Benefit Reduction Under Certain Amendments Maximum, percent | 7% | |||
Employer's matching contribution to 401(k) of employees hired on or after January 1, 2009, percent | 50% | |||
Maximum annual contribution per employee, percent | 3% | |||
Funding and administrative costs of noncontributory defined benefit retirement plan and 401(k) plan [Abstract] | ||||
401(k) plan | $ 157 | $ 162 | $ 494 | $ 474 |
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 | 342 | 261 | 958 | 822 |
Components of net periodic pension cost [Abstract] | ||||
Interest cost | 14 | 13 | 40 | 39 |
Amortization of unrecognized net loss | 2 | 2 | 6 | 6 |
Net periodic pension cost | 16 | 15 | 46 | 45 |
Accumulated Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax [Abstract] | ||||
Net actuarial gain | $ (1) | $ (2) | $ (4) | $ (5) |
Stock Based Compensation, Addit
Stock Based Compensation, Additional Information (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Period options granted to date vest ratably | 5 years | |||
Compensation expense relating to restricted stock | $ 113,000 | $ 51,000 | $ 417,000 | $ 196,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | |||
Restricted Stock [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based Payment Arrangement, Expense | 113,000 | 51,000 | $ 417,000 | 196,000 |
Share-based Payment Arrangement, Expense, Tax Benefit | 24,000 | $ 11,000 | 88,000 | $ 41,000 |
Restricted stock compensation costs not yet recognized | $ 814,000 | $ 814,000 | ||
Compensation costs not yet recognized, period for recognition | 4 years 4 months 24 days | |||
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 | 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 | 450,000 |
Stock Based Compensation, Stock
Stock Based Compensation, Stock Option Activity (Details) - Stock Options [Member] - $ / shares | 9 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Options outstanding [Roll Forward] | ||
Outstanding at beginning of period (in shares) | 0 | 311 |
Exercised (in shares) | 0 | (311) |
Outstanding at end of period (in shares) | 0 | 0 |
Weighted average exercise price [Roll forward] | ||
Outstanding at beginning of period (in dollars per share) | $ 0 | $ 12.60 |
Exercised (in dollars per share) | 0 | 12.60 |
Outstanding at end of period (in dollars per share) | $ 0 | $ 0 |
Stock Based Compensation , Info
Stock Based Compensation , Information Related to Stock Options Exercised (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Share-Based Payment Arrangement [Abstract] | ||
Intrinsic value of options exercised | $ 0 | $ 1 |
Cash received from options exercised | 0 | 4 |
Tax benefit realized from options exercised | $ 0 | $ 0 |
Stock Based Compensation , Rest
Stock Based Compensation , Restricted Stock Activity (Details) - Restricted Stock [Member] - $ / shares | 9 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Shares | ||
Outstanding at beginning of period (in shares) | 44,512 | 28,596 |
Granted (in shares) | 32,554 | 26,321 |
Vested (in shares) | 18,814 | 8,959 |
Forfeited (in shares) | 0 | 756 |
Outstanding at end of period (in shares) | 58,252 | 45,202 |
Weighted Average Grant Date Fair Value | ||
Outstanding at beginning of period (usd per share) | $ 17.08 | $ 17.42 |
Granted (usd per share) | 19.25 | 16.85 |
Vested (usd per share) | 18.01 | 17.54 |
Forfeited (usd per share) | 0 | 16.86 |
Outstanding at end of period (usd per share) | $ 17.99 | $ 17.08 |
Stock Based Compensation Restri
Stock Based Compensation Restricted Stock Awards Expense Informations (Details) - Restricted Stock [Member] - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based Payment Arrangement, Expense | $ 113 | $ 51 | $ 417 | $ 196 |
Share-based Payment Arrangement, Expense, Tax Benefit | $ 24 | $ 11 | $ 88 | $ 41 |
Earnings Per Common Share (Deta
Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Earnings Per Share [Abstract] | ||||
Net income | $ 5,579 | $ 4,817 | $ 15,720 | $ 15,347 |
Less allocation of earnings and dividends to participating securities | 28 | 18 | 81 | 56 |
Net income allocated to common shareholders | $ 5,551 | $ 4,799 | $ 15,639 | $ 15,291 |
Weighted average common shares outstanding, gross (in shares) | 11,342,539 | 12,501,234 | 11,537,078 | 12,709,326 |
Less average participating securities (in shares) | 58,314 | 45,958 | 58,822 | 45,958 |
Weighted average number of shares outstanding used in the calculation of basic earnings per common share (in shares) | 11,284,225 | 12,455,276 | 11,478,256 | 12,663,368 |
Add dilutive effect of: | ||||
Stock options (in shares) | 0 | 0 | 0 | 10 |
Adjusted weighted average number of shares outstanding used in the calculation of diluted earnings per common share (in shares) | 11,284,225 | 12,455,276 | 11,478,256 | 12,663,378 |
Earnings per common share: | ||||
Basic (usd per share) | $ 0.49 | $ 0.39 | $ 1.36 | $ 1.21 |
Diluted (usd per share) | $ 0.49 | $ 0.39 | $ 1.36 | $ 1.21 |
Fair Value Measurements (Detail
Fair Value Measurements (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Recurring fair value measurement [Abstract] | ||
Equity securities with a readily determinable fair value, at fair value | $ 2,175 | $ 2,546 |
Debt securities, available-for-sale, at fair value | 290,419 | 308,177 |
Carrying Amount [Member] | ||
Nonrecurring fair value measurements: [Abstract] | ||
Long-term debt | 24,539 | 10,000 |
Short-term borrowings | 4,000 | |
Fair Value [Member] | ||
Nonrecurring fair value measurements: [Abstract] | ||
Long-term debt | 24,015 | 10,292 |
Short-term borrowings | 4,000 | |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Nonrecurring fair value measurements: [Abstract] | ||
Long-term debt | 0 | 0 |
Short-term borrowings | 4,000 | |
Significant Other Observable Inputs (Level 2) [Member] | ||
Nonrecurring fair value measurements: [Abstract] | ||
Long-term debt | 24,015 | 10,292 |
Short-term borrowings | 0 | |
Significant Unobservable Inputs (Level 3) [Member] | ||
Nonrecurring fair value measurements: [Abstract] | ||
Long-term debt | 0 | 0 |
Short-term borrowings | 0 | |
Recurring [Member] | ||
Recurring fair value measurement [Abstract] | ||
Debt securities, available-for-sale, at fair value | 292,594 | 310,723 |
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 | 77,992 | 77,290 |
Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Recurring fair value measurement [Abstract] | ||
Debt securities, available-for-sale, at fair value | 214,602 | 233,433 |
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 | 958 | 1,011 |
Nonrecurring fair value measurements: [Abstract] | ||
Impaired loans | 958 | 1,011 |
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: [Abstract] | ||
Impaired loans | 0 | 0 |
Nonrecurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Recurring fair value measurement [Abstract] | ||
Fair Value | 0 | 0 |
Nonrecurring fair value measurements: [Abstract] | ||
Impaired loans | 0 | 0 |
Nonrecurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Recurring fair value measurement [Abstract] | ||
Fair Value | 958 | 1,011 |
Nonrecurring fair value measurements: [Abstract] | ||
Impaired loans | 958 | 1,011 |
U.S. Treasury notes [Member] | ||
Recurring fair value measurement [Abstract] | ||
Debt securities, available-for-sale, at fair value | 75,817 | 74,744 |
U.S. Treasury notes [Member] | Recurring [Member] | ||
Recurring fair value measurement [Abstract] | ||
Debt securities, available-for-sale, at fair value | 75,817 | 74,744 |
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 | 75,817 | 74,744 |
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 | 77,599 | 87,246 |
U.S. Agency notes [Member] | Recurring [Member] | ||
Recurring fair value measurement [Abstract] | ||
Debt securities, available-for-sale, at fair value | 77,599 | 87,246 |
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 | 77,599 | 87,246 |
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 | 81,251 | 96,676 |
U.S. Agency mortgage-backed securities [Member] | Recurring [Member] | ||
Recurring fair value measurement [Abstract] | ||
Debt securities, available-for-sale, at fair value | 81,251 | 96,676 |
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 | 81,251 | 96,676 |
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 | 8,692 | 9,066 |
Non-taxable Municipal securities [Member] | Recurring [Member] | ||
Recurring fair value measurement [Abstract] | ||
Debt securities, available-for-sale, at fair value | 8,692 | 9,066 |
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 | 8,692 | 9,066 |
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 | 41,175 | 35,293 |
Taxable Municipal securities [Member] | Recurring [Member] | ||
Recurring fair value measurement [Abstract] | ||
Debt securities, available-for-sale, at fair value | 41,175 | 35,293 |
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 | 41,175 | 35,293 |
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 fair value measurement [Abstract] | ||
Equity securities with a readily determinable fair value, at fair value | 1,220 | 1,379 |
Mutual funds [Member] | Recurring [Member] | ||
Recurring fair value measurement [Abstract] | ||
Equity securities with a readily determinable fair value, at fair value | 36 | 51 |
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 | 36 | 51 |
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 | 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 | 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 | 1,184 | 1,328 |
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 | 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 | 0 |
Equity securities [Member] | ||
Recurring fair value measurement [Abstract] | ||
Equity securities with a readily determinable fair value, at fair value | 955 | 1,167 |
Equity securities [Member] | Recurring [Member] | ||
Recurring fair value measurement [Abstract] | ||
Equity securities with a readily determinable fair value, at fair value | 955 | 1,167 |
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 | 955 | 1,167 |
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 | 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 | 0 |
Corporate Debt Securities | ||
Recurring fair value measurement [Abstract] | ||
Debt securities, available-for-sale, at fair value | 5,885 | 5,152 |
Corporate Debt Securities | Recurring [Member] | ||
Recurring fair value measurement [Abstract] | ||
Debt securities, available-for-sale, at fair value | 5,885 | 5,152 |
Corporate Debt Securities | 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 |
Corporate Debt Securities | Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Recurring fair value measurement [Abstract] | ||
Debt securities, available-for-sale, at fair value | 5,885 | 5,152 |
Corporate Debt Securities | Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Recurring fair value measurement [Abstract] | ||
Debt securities, available-for-sale, at fair value | $ 0 | $ 0 |
Fair Value Measurements, Quanti
Fair Value Measurements, Quantitative Information About Unobservable Inputs Used In Recurring And Nonrecurring Level 3 Inputs (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2021 | |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Net income | $ 5,579,000 | $ 4,817,000 | $ 15,720,000 | $ 15,347,000 | |
Less allocation of earnings and dividends to participating securities | 28,000 | 18,000 | 81,000 | 56,000 | |
Net Income (Loss) Available to Common Stockholders, Basic | $ 5,551,000 | $ 4,799,000 | $ 15,639,000 | $ 15,291,000 | |
Weighted average common shares outstanding, gross (in shares) | 11,342,539 | 12,501,234 | 11,537,078 | 12,709,326 | |
Less average participating securities (in shares) | 58,314 | 45,958 | 58,822 | 45,958 | |
Basic (in shares) | 11,284,225 | 12,455,276 | 11,478,256 | 12,663,368 | |
Nonrecurring [Member] | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Fair Value | $ 958,000 | $ 958,000 | $ 1,011,000 | ||
Nonrecurring [Member] | Level 3 [Member] | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Fair Value | 958,000 | 958,000 | 1,011,000 | ||
Nonrecurring [Member] | Impaired Loans, Fair Value Calculated Using Estimated Sales Price [Domain] | Level 3 [Member] | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Fair Value | 0 | 0 | 0 | ||
Nonrecurring [Member] | Impaired Loans, Fair Value Calculated Using Discounted Cash Flows | Level 3 [Member] | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Fair Value | 958,000 | 958,000 | 1,011,000 | ||
Measurement Input, Discount Rate | Nonrecurring [Member] | Impaired Loans, Fair Value Calculated Using Discounted Cash Flows | High [Member] | Level 3 [Member] | Valuation, Income Approach | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Fair Value | 0.08125 | 0.08125 | 0.0813 | ||
Measurement Input, Discount Rate | Nonrecurring [Member] | Impaired Loans, Fair Value Calculated Using Discounted Cash Flows | Low [Member] | Level 3 [Member] | Valuation, Income Approach | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Fair Value | 0.04625 | 0.04625 | 0.0463 | ||
Measurement Input, Discount Rate | Nonrecurring [Member] | Impaired Loans, Fair Value Calculated Using Discounted Cash Flows | Weighted Average | Level 3 [Member] | Valuation, Income Approach | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Fair Value | $ 0.0606 | $ 0.0606 | $ 0.0607 |
Fair Value Measurements, By Bal
Fair Value Measurements, By Balance Sheet Grouping (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
FINANCIAL ASSETS: | ||
Equity securities with a readily determinable fair value, at fair value | $ 2,175 | $ 2,546 |
Debt securities, held-to-maturity | 20,927 | 23,087 |
Accrued interest receivable | 7,622 | 7,999 |
Carrying Amount [Member] | ||
FINANCIAL ASSETS: | ||
Cash and cash equivalents | 29,460 | 18,136 |
Debt securities, held-to-maturity | 22,415 | 22,972 |
Loans, net | 1,371,045 | 1,363,939 |
Accrued interest receivable | 7,622 | 7,999 |
FINANCIAL LIABILITIES: | ||
Deposits | 1,657,370 | 1,628,819 |
Long-term debt | 24,539 | 10,000 |
Accrued interest payable | 233 | 277 |
Fair Value [Member] | ||
FINANCIAL ASSETS: | ||
Cash and cash equivalents | 29,460 | 18,136 |
Debt securities, held-to-maturity | 20,927 | 23,087 |
Loans, net | 1,206,806 | 1,333,840 |
Accrued interest receivable | 7,622 | 7,999 |
FINANCIAL LIABILITIES: | ||
Deposits | 1,657,818 | 1,630,158 |
Long-term debt | 24,015 | 10,292 |
Accrued interest payable | 233 | 277 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
FINANCIAL ASSETS: | ||
Cash and cash equivalents | 29,460 | 18,136 |
Debt securities, held-to-maturity | 0 | 0 |
Loans, net | 0 | 0 |
Accrued interest receivable | 0 | 0 |
FINANCIAL LIABILITIES: | ||
Deposits | 1,500,286 | 1,435,487 |
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 |
Loans, net | 0 | 0 |
Accrued interest receivable | 7,622 | 7,999 |
FINANCIAL LIABILITIES: | ||
Deposits | 157,532 | 194,671 |
Long-term debt | 24,015 | 10,292 |
Accrued interest payable | 233 | 277 |
Significant Unobservable Inputs (Level 3) [Member] | ||
FINANCIAL ASSETS: | ||
Cash and cash equivalents | 0 | 0 |
Debt securities, held-to-maturity | 20,927 | 23,087 |
Loans, net | 1,206,806 | 1,333,840 |
Accrued interest receivable | 0 | 0 |
FINANCIAL LIABILITIES: | ||
Deposits | 0 | 0 |
Long-term debt | 0 | 0 |
Accrued interest payable | $ 0 | $ 0 |