Document and Entity Information
Document and Entity Information | 3 Months Ended |
Mar. 31, 2016shares | |
Document and Entity Information [Abstract] | |
Entity Registrant Name | UNITED BANCSHARES INC/OH |
Document Type | 10-Q |
Current Fiscal Year End Date | --12-31 |
Trading Symbol | uboh |
Entity Common Stock, Shares Outstanding | 3,297,095 |
Amendment Flag | false |
Entity Central Index Key | 1,087,456 |
Entity Filer Category | Smaller Reporting Company |
Document Period End Date | Mar. 31, 2016 |
Document Fiscal Year Focus | 2,016 |
Document Fiscal Period Focus | Q1 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Mar. 31, 2016 | Dec. 31, 2015 |
CASH AND CASH EQUIVALENTS | ||
Cash and due from banks | $ 9,933,361 | $ 11,482,114 |
Interest-bearing deposits in other banks | 16,623,940 | 11,440,251 |
Total cash and cash equivalents | 26,557,301 | 22,922,365 |
SECURITIES, available-for-sale | 183,785,384 | 182,929,038 |
RESTRICTED BANK STOCK, at cost | 4,829,540 | 4,829,540 |
CERTIFICATES OF DEPOSIT, at cost | 1,992,000 | 1,992,000 |
LOANS HELD FOR SALE | 411,773 | 346,900 |
LOANS AND LEASES | 358,894,684 | 354,250,015 |
Less allowance for loan losses | 3,650,437 | 3,834,466 |
Net loans and leases | 355,244,247 | 350,415,549 |
PREMISES AND EQUIPMENT, net | 11,803,675 | 12,048,680 |
GOODWILL | 10,072,399 | 10,072,399 |
CORE DEPOSIT INTANGIBLE ASSETS, net | 868,889 | 903,220 |
CASH SURRENDER VALUE OF LIFE INSURANCE | 16,931,448 | 16,833,950 |
OTHER REAL ESTATE OWNED | 148,000 | 173,047 |
OTHER ASSETS, including accrued interest | 4,031,130 | 5,198,421 |
Total Assets | 616,675,786 | 608,665,109 |
Deposits: | ||
Non-interest bearing | 102,644,165 | 93,476,408 |
Interest-bearing | 423,056,673 | 424,942,934 |
Total deposits | 525,700,838 | 518,419,342 |
Other borrowings | 1,000,000 | 2,118,000 |
Junior subordinated deferrable interest debentures | 12,780,864 | 12,772,401 |
Other liabilities | 3,534,490 | 3,794,189 |
Total liabilities | 543,016,192 | 537,103,932 |
SHAREHOLDERS' EQUITY | ||
Common stock, stated value $1.00 authorized 10,000,000 shares; issued 3,760,557 shares | 3,760,557 | 3,760,557 |
Surplus | 14,670,773 | 14,669,087 |
Retained earnings | 59,586,737 | 58,641,837 |
Accumulated other comprehensive income | 2,754,381 | 1,397,130 |
Treasury stock, at cost, 463,462 shares at March 31, 2016 and 451,218 shares at December 31, 2015 | (7,112,854) | (6,907,434) |
Total shareholders' equity | 73,659,594 | 71,561,177 |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ 616,675,786 | $ 608,665,109 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - $ / shares | Mar. 31, 2016 | Dec. 31, 2015 |
Statement of Financial Position [Abstract] | ||
Common stock par value (in Dollars per share) | $ 1 | $ 1 |
Common stock, shares authorized | 10,000,000 | 10,000,000 |
Common stock, shares issued | 3,760,557 | 3,760,557 |
Treasury stock, shares | 463,462 | 451,218 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Income - USD ($) | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
INTEREST INCOME | ||
Loans & leases, including fees | $ 4,198,828 | $ 4,550,458 |
Securities: | ||
Taxable | 536,976 | 694,978 |
Tax-exempt | 429,833 | 389,389 |
Other | 79,545 | 75,827 |
Total interest income | 5,245,182 | 5,710,652 |
INTEREST EXPENSE | ||
Deposits | 385,702 | 444,143 |
Borrowings | 128,865 | 110,390 |
Total interest expense | 514,567 | 554,533 |
Net interest income | 4,730,615 | 5,156,119 |
PROVISION (CREDIT) FOR LOAN AND LEASE LOSSES | (400,000) | 100,000 |
Net Interest Income after provision (credit) for loan and lease losses | 5,130,615 | 5,056,119 |
NON-INTEREST INCOME | ||
Gain on sale of loans | 69,093 | 94,235 |
Net securities gains | 120,168 | 34,453 |
Other operating income | 929,627 | 875,031 |
Total non-interest income | 1,118,888 | 1,003,719 |
NON-INTEREST EXPENSES | 4,555,922 | 4,627,967 |
INCOME BEFORE INCOME TAXES | 1,693,581 | 1,431,871 |
PROVISION FOR INCOME TAXES | 386,000 | 310,000 |
NET INCOME | $ 1,307,581 | $ 1,121,871 |
NET INCOME PER SHARE | ||
NET INCOME PER SHARE (basic and diluted) (in dollars per share) | $ 0.40 | $ 0.33 |
Weighted average common shares outstanding | 3,301,206 | 3,366,251 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Statement of Comprehensive Income [Abstract] | ||
NET INCOME | $ 1,307,581 | $ 1,121,871 |
Unrealized gains on securities: | ||
Unrealized holding gains during period | 2,176,609 | 1,287,353 |
Reclassification adjustments for gains included in net income | (120,168) | (34,453) |
Other comprehensive income, before income taxes | 2,056,441 | 1,252,900 |
Income tax expense related to items of other comprehensive income (loss) | (699,190) | (425,986) |
Other comprehensive income | 1,357,251 | 826,914 |
COMPREHENSIVE INCOME | $ 2,664,832 | $ 1,948,785 |
Consolidated Statements of Shar
Consolidated Statements of Shareholders' Equity - USD ($) | Common Stock [Member] | Surplus [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income [Member] | Treasury Stock [Member] | Total |
Beginning balance at Dec. 31, 2014 | $ 3,760,557 | $ 14,665,845 | $ 53,925,768 | $ 1,412,115 | $ (5,992,008) | $ 67,772,277 |
Net income | 1,121,871 | 1,121,871 | ||||
Other comprehensive income | 826,914 | 826,914 | ||||
Repurchase of shares | (76,006) | (76,006) | ||||
Shares issued from treasury in connection with the Corporation's Employee Stock Purchase Plan | 1,719 | 6,147 | 7,866 | |||
Dividends declared | (303,131) | (303,131) | ||||
Balance at Mar. 31, 2015 | 3,760,557 | 14,667,564 | 54,744,508 | 2,239,029 | (6,061,867) | 69,349,791 |
Beginning balance at Dec. 31, 2015 | 3,760,557 | 14,669,087 | 58,641,837 | 1,397,130 | (6,907,434) | 71,561,177 |
Net income | 1,307,581 | 1,307,581 | ||||
Other comprehensive income | 1,357,251 | 1,357,251 | ||||
Repurchase of shares | (210,120) | (210,120) | ||||
Shares issued from treasury in connection with the Corporation's Employee Stock Purchase Plan | 1,686 | 4,700 | 6,386 | |||
Dividends declared | (362,681) | (362,681) | ||||
Balance at Mar. 31, 2016 | $ 3,760,557 | $ 14,670,773 | $ 59,586,737 | $ 2,754,381 | $ (7,112,854) | $ 73,659,594 |
Consolidated Shareholders' Equi
Consolidated Shareholders' Equity (Parentheticals) - $ / shares | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Cash dividends declared per share (in Dollars per share) | $ 0.11 | $ 0.09 |
Stock issued during the period, shares, Employee Stock Purchase Plans | 307 | 403 |
Treasury Stock [Member] | ||
Repurchase of shares | 12,551 | 5,000 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Cash flows provided by operating activities | ||
Cash flows from operating activities | $ 1,288,458 | $ 1,104,029 |
Cash flows from investing activities: | ||
Proceeds from sales of available-for-sale securities | 7,371,914 | 11,632,056 |
Purchases of available-for-sale securities | (6,233,565) | (22,378,342) |
Net increase in loans and leases | 4,649,840 | |
Net decrease in loans and leases | (4,398,808) | |
Purchases of premises and equipment | (8,714) | (80,846) |
Net cash provided by (used in) investing activities | (3,269,173) | (6,177,292) |
Cash flows from financing activities: | ||
Net increase (decrease) in deposits | 7,300,066 | (18,228,709) |
Change in net borrowings | (1,118,000) | 5,036,000 |
Purchase of treasury stock | (210,120) | (76,006) |
Proceeds from sale of treasury shares | 6,386 | 7,866 |
Cash dividends paid | (362,681) | (303,131) |
Net cash provided by (used in) financing activities | 5,615,651 | (13,563,980) |
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 3,634,936 | (18,637,243) |
At beginning of period | 22,922,365 | 32,354,580 |
At end of period | 26,557,301 | 13,717,337 |
Cash paid for: | ||
Interest | 478,714 | 613,245 |
Federal income taxes | 150,000 | |
Non-cash investing activities: | ||
Transfer of loans to other real estate owned | 8,000 | |
Change in net unrealized gain or loss on available-for-sale securities | $ 2,056,423 | $ 1,287,353 |
Consolidated Financial Statemen
Consolidated Financial Statements | 3 Months Ended |
Mar. 31, 2016 | |
Consolidated Financial Statements [Abstract] | |
Consolidated Financial Statements | NOTE 1 – CONSOLIDATED FINANCIAL STATEMENTS The consolidated financial statements of United Bancshares, Inc. and subsidiaries (the “Corporation”) have been prepared without audit and in the opinion of management reflect all adjustments (which include normal recurring adjustments) necessary to present fairly such information for the periods and dates indicated. Since the unaudited financial statements have been prepared in accordance with the instructions to Form 10-Q, they do not contain all information and footnotes typically included in financial statements prepared in conformity with generally accepted accounting principles. Operating results for the three months ended March 31, 2016 are not necessarily indicative of the results that may be expected for the year ending December 31, 2016. The balance sheet as of December 31, 2015 is derived from completed audited consolidated financial statements with footnotes, which are included in the Corporation’s Annual Report on Form 10-K for the year ended December 31, 2015. The consolidated financial statements include the accounts of the Corporation and its wholly-owned subsidiary, The Union Bank Company (the “Bank”). The Bank has formed a wholly-owned subsidiary, UBC Investments, Inc. (“UBC”), to hold and manage its securities portfolio. The operations of UBC are located in Wilmington, Delaware. The Bank has also formed a wholly-owned subsidiary, UBC Property, Inc., to hold and manage certain property. All significant intercompany balances and transactions have been eliminated in consolidation. The accounting and reporting policies of the Corporation conform to generally accepted practices within the banking industry. The Corporation considers all of its principal activities to be banking related. |
New Accounting Pronouncements
New Accounting Pronouncements | 3 Months Ended |
Mar. 31, 2016 | |
New Accounting Pronouncements [Abstract] | |
New Accounting Pronouncements | NOTE 2 – NEW ACCOUNTING PRONOUNCEMENTS In January 2016, the FASB issued ASU 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities, amending ASU Subtopic 825-10. The amendments in this update make targeted improvements to generally accepted accounting pr inciples (GAAP) as follows: 1) Require equity investments to be measured at fair value with changes in fair value recognized in net income.; 2) Simplify the impairment assessment of equity investments without readily determinable fair values by requiring a qualitative assessment to identify impairment.; 3) Eliminate the requirement to disclose the fair value of financial instruments measured at amortized cost for entities that are not public business entities.; 4) Eliminate the requirement for public business entities to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet.; 5) Require public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes.; 6) Require an entity to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments.; 7) Require separate presentation of financial as sets and financial liabilities b y measurement category and form of financial asset on the balance sheet or the accompanying notes to the financial statements.; and 8) Clarify that an entity should evaluate the need for a valuation allowance on a deferred tax asset related to available-for-sale securities in combination with the entity’s other deferred tax assets. The amendments in this update are effective for fiscal years beginning after December 15, 2017. The Corporation has not yet made a determination of the impact on the financial statements of the provisions for ASU 2016-01. |
Securities
Securities | 3 Months Ended |
Mar. 31, 2016 | |
Securities [Abstract] | |
Securities | NOTE 3 - SECURITIES The amortized cost and fair value of available-for-sale securities as of March 31, 2016 and December 31, 2015 are as follows (dollars in thousands): March 31, 2016 December 31, 2015 Amortized cost Fair value Amortized cost Fair value Available-for-sale: U.S. Government and agencies $ 3,998 $ 4,005 $ 3,998 $ 3,966 Obligations of states and political subdivisions 68,975 71,303 71,589 73,482 Mortgage-backed 105,637 107,462 104,223 104,480 Other 1,002 1,015 1,002 1,001 Total $ 179,612 $ 183,785 $ 180,812 $ 182,929 A summary of gross unrealized gains and losses on available-for-sale securities as of March 31, 2016 and December 31, 2015 follows (dollars in thousands): March 31, 2016 December 31, 2015 Gross unrealized gains Gross unrealized losses Gross unrealized gains Gross unrealized losses Available-for-sale: U.S. Government and agencies $ 7 $ - $ - $ 32 Obligations of states and political subdivisions 2,342 14 1,960 67 Mortgage-backed 1,917 92 1,071 814 Other 13 - - 1 Total $ 4,279 $ 106 $ 3,031 $ 914 |
Loans
Loans | 3 Months Ended |
Mar. 31, 2016 | |
Loans [Abstract] | |
Loans | NOTE 4 – LOANS AND LEASES The following tables present the activity in the allowance for loan and lease losses by portfolio segment for the periods ending March 31, 2016 and 2015. Commercial Commercial and multi-family real estate Residential 1 – 4 family real estate Consumer Total Balance at December 31, 2015 $ 892,586 $ 2,540,393 $ 373,340 $ 28,147 $ 3,834,466 Provision (credit) charged to expenses 245,020 (669,442) 19,777 4,645 (400,000) Losses charged off - (10,596) - (7,096) (17,692) Recoveries 9,000 222,539 - 2,124 233,663 Balance at March 31, 2016 $ 1,146,606 $ 2,082,894 $ 393,117 $ 27,820 $ 3,650,437 Commercial Commercial and multi-family real estate Residential 1 – 4 family real estate Consumer Total Balance at December 31, 2014 $ 198,367 $ 3,255,148 $ 362,895 $ 23,098 $ 3,839,508 Provision (credit) charged to expenses 245,910 (183,506) 37,313 283 100,000 Losses charged off (326,801) (68,480) (108,412) (6,666) (510,359) Recoveries 57,283 16,184 18,481 1,299 93,247 Balance at March 31, 2015 $ 174,759 $ 3,019,346 $ 310,277 $ 18,014 $ 3,522,396 The following tables present the balance in the allowance for loan and lease losses and the recorded investment in loans and leases by portfolio segment and based on impairment method for the periods ending March 31, 2016 and December 31, 2015: March 31, 2016 Commercial Commercial and multi-family real estate Residential 1 – 4 family real estate Consumer Total Allowance for loan and lease losses: Attributable to loans and leases individually evaluated for impairment $ 743,862 $ 579,795 $ - $ - $ 1,323,657 Collectively evaluated for impairment 402,744 1,503,099 393,117 27,820 2,326,780 Total allowance for loan and lease losses $ 1,146,606 $ 2,082,894 $ 393,117 $ 27,820 $ 3,650,437 Loans and leases: Individually evaluated for impairment $ 2,014,155 $ 2,789,957 $ - $ - $ 4,804,112 Acquired with deteriorated credit quality 40,979 641,662 60,244 - 742,885 Collectively evaluated for impairment 67,067,849 204,563,311 78,090,466 3,626,062 353,347,688 Total ending loans and leases balance $ 69,122,983 $ 207,994,930 $ 78,150,710 $ 3,626,062 $ 358,894,684 December 31, 2015 Commercial Commercial and multi-family real estate Residential 1 – 4 family real estate Consumer Total Allowance for loan and lease losses: Attributable to loans and leases individually evaluated for impairment $ 527,940 $ 842,643 $ - $ - $ 1,370,583 Collectively evaluated for impairment 364,646 1,697,750 373,340 28,147 2,463,883 Total allowance for loan and lease losses $ 892,586 $ 2,540,393 $ 373,340 $ 28,147 $ 3,834,466 Loans and leases: Individually evaluated for impairment $ 2,192,266 $ 3,819,786 $ - $ - $ 6,012,052 Acquired with deteriorated credit quality 42,733 669,336 73,625 - 785,694 Collectively evaluated for impairment 64,091,775 201,481,260 78,021,941 3,857,293 347,452,269 Total ending loans and leases balance $ 66,326,774 $ 205,970,382 $ 78,095,566 $ 3,857,293 $ 354,250,015 Impaired loans and leases were as follows as of March 31, 2016 and December 31, 2015: March 31, 2016 December 31, 2015 Loans and leases with no allowance for loan and lease losses allocated $ 653,562 $ - Loans and leases with allowance for loan and lease losses allocated 4,150,550 6,012,053 Total impaired loans and leases 4,804,112 6,012,053 Amount of the allowance allocated to impaired loans and leases $ 1,323,657 $ 1,370,583 No Additional funds are committed to be advanced in connection with impaired loans and leases. The average recorded investment in impaired loans and leases (excluding loans and leases acquired with deteriorated credit quality) for the three month periods ended March 31, 201 6 and 201 5 was approximately $ 5.4 million and $4.3 million , respectively. There was approximately $81,500 and $49,000 in interest income recognized by the Corporation on impaired loans and leases on an accrual or cash basis for the three month periods ended March 31, 201 6 and 201 5 , respectively. The following table presents loans and leases individually evaluated for impairment by class of loans as of March 31, 2016 and December 31, 2015: March 31, 2016 December 31, 2015 Recorded investment Allowance for loan and lease losses allocated Recorded investment Allowance for loan and lease losses allocated With no related allowance recorded: Commercial $ - $ - $ - $ - Commercial and multi-family real estate 653,562 - - - Agriculture - - - - Agricultural real estate - - - - Consumer - - - - Residential 1-4 family real estate - - - - With an allowance recorded: Commercial 2,014,155 743,862 2,192,266 527,940 Commercial and multi-family real estate 2,136,395 579,795 3,819,787 842,643 Agriculture - - - Agricultural real estate - - - Consumer - - - Residential 1-4 family real estate - - - Total $ 4,804,112 $ 1,323,657 $ 6,012,053 $ 1,370,583 The following tables present the recorded investment in nonaccrual loans and leases, loans and leases past due over 90 days still on accrual and troubled debt restructurings by class of loans as of March 31, 2016 and December 31, 2015: March 31, 2016 Nonaccrual Loans and leases past due over 90 days still accruing Troubled Debt Restructurings Commercial $ 2,197,826 $ - $ - Commercial real estate 4,336,365 - 739,872 Agricultural real estate 134,587 - - Agriculture - - - Consumer 6,314 - - Residential: 1 – 4 family 1,418,947 - 386,009 Home equity - - - Total $ 8,094,039 $ - $ 1,125,881 December 31, 2015 Nonaccrual Loans and leases past due over 90 days still accruing Troubled Debt Restructurings Commercial $ 355,415 $ - $ - Commercial real estate 4,112,605 - 1,403,187 Agricultural real estate 52,061 259,858 - Agriculture 19,312 - - Consumer 11,977 - - Residential: 1 – 4 family 1,393,568 - 392,455 Home equity - - - Total $ 5,944,938 $ 259,858 $ 1,795,642 The nonaccrual balances in the table above include troubled debt restructurings that have been classified as nonaccrual. The following table presents the aging of the recorded investment in past due loans and leases as of March 31, 2016 by class of loans and leases: 30 – 59 days past due 60 – 89 days past due Greater than 90 days past due Total past due Loans and leases not past due Total Commercial $ 52,762 $ 137,996 $ 120,369 $ 311,127 $ 56,525,917 $ 56,837,044 Commercial real estate 48,356 63,243 1,056,489 1,168,088 185,253,158 186,421,246 Agriculture - 6,533 - 6,533 12,279,406 12,285,939 Agricultural real estate 34,003 - 86,913 120,917 21,452,767 21,573,684 Consumer 18,809 319 - 19,128 3,606,934 3,626,062 Residential real estate 1,234,871 562,286 309,686 2,106,843 76,043,866 78,150,710 Total $ 1,388,801 $ 770,377 $ 1,573,458 $ 3,732,636 $ 355,162,048 $ 358,894,684 The following table presents the aging of the recorded investment in past due loans and leases as of December 31, 2015 by class of loans and leases: 30 – 59 days past due 60 – 89 days past due Greater than 90 days past due Total past due Loans and leases not past due Total Commercial $ 80,898 $ 50,000 $ 121,057 $ 251,955 $ 53,210,222 $ 53,462,177 Commercial real estate 643,541 15,422 1,225,385 1,884,348 181,952,711 183,837,059 Agriculture 150,064 - 19,312 169,376 12,695,221 12,864,597 Agricultural real estate 93,871 - 259,858 353,729 21,779,594 22,133,323 Consumer 49,389 301 4,824 54,514 3,802,779 3,857,293 Residential real estate 2,146,892 244,123 388,584 2,779,599 75,315,967 78,095,566 Total $ 3,164,655 $ 309,846 $ 2,019,020 $ 5,493,521 $ 348,756,494 $ 354,250,015 Credit Quality Indicators: The Corporation categorizes loans and leases into risk categories based on relevant information about the ability of borrowers to service their debt such as: current final financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. The Corporation analyzes loans and leases individually by classifying the loans and leases as to the credit risk. This analysis generally includes loans and leases with an outs tanding balance greater than $50 0,000 (increased from $250,000 in 2015) and non-homogenous loans and leases , such as commercial and commercial real estate loans and leases . This analysis is performed on a quarterly basis. The Corporation uses the following definitions for risk ratings: · Special Mention: Loans and leases which possess some credit deficiency or potential weakness which deserve s close attention, but which do not yet warrant substandard classification. Such loans and leases pose unwarranted financial risk that, if not corrected, could weaken the loan and lease and increase risk in the future. The key distinctions of a Special Mention classification are that (1) it is indicative of an unwarranted level of risk, and (2) weaknesses are considered "potential", versus "defined", impairments to the primary source of loan repayment. · Substandard: These loans and leases are inadequately protected by the current sound net worth and paying ability of the borrower. Loans and leases of this type will generally display negative financial trends such as poor or negative net worth, earnings or cash flow. These loans and leases may also have historic and/or severe delinquency problems, and Corporation management may depend on secondary repayment sources to liquidate these loans and leases . The Corporation could sustain some degree of loss in these loans if the weaknesses remain uncorrected. · Doubtful: Loans and leases in this category display a high degree of loss, although the amount of actual loss at the time of classification is undeterminable. This should be a temporary category until such time that actual loss can be identified, or improvements made to reduce the seriousness of the classification. Loans and leases not meeting the previous criteria that are analyzed individually as part of the above described process are considered to be pass rated loans and leases . Loans and leases listed as not rated are generally either less than $500,000 (increased from $250,000 in 2015) or are included in groups of homogenous loans and leases . As of March 31, 2016 and December 31, 2015, and based on the most recent analysis performed, the risk category of loans by class of loans and leases is as follows: March 31, 2016 Pass Special Mention Substandard Doubtful Not rated Commercial $ 44,129,269 $ 2,508,258 $ 2,712,848 $ - $ 19,772,608 Commercial and multi- family real estate 144,866,186 7,414,303 4,680,528 - 51,033,913 Residential 1 - 4 family 219,437 - - - 77,931,273 Consumer - - - - 3,626,062 Total $ 189,214,891 $ 9,922,561 $ 7,393,376 $ - $ 152,363,855 December 31, 2015 Pass Special Mention Substandard Doubtful Not rated Commercial $ 41,184,348 $ 2,806,324 $ 2,656,154 $ - $ 19,679,948 Commercial and multi- family real estate 139,351,079 7,562,337 5,975,868 - 53,081,098 Residential 1 - 4 family 222,552 - - - 77,873,014 Consumer - - - - 3,857,293 Total $ 180,757,979 $ 10,368,661 $ 8,632,022 $ - $ 154,491,353 The Corporation considers the performance of the loan and lease portfolio and its impact on the allowance for loan and lease losses. For all loan classes that are not rated, the Corporation also evaluates credit quality based on the aging status of the loan, which was previously presented, and by payment activity. Generally, all loans and leases not rated that are 90 days past due or are classified as nonaccrual and collectively evaluated for impairment, are considered nonperforming. The following table presents the recorded investment in all loans and leases that are not risk rated, based on payment activity as of March 31, 2016 and December 31, 2015: March 31, 2016 Commercial Commercial and multi-family real estate Residential 1-4 family Consumer Performing $ 19,652,239 $ 50,544,072 $ 77,621,587 $ 3,626,062 Nonperforming 120,369 489,841 309,686 - Total $ 19,772,608 $ 51,033,913 $ 77,931,273 $ 3,626,062 December 31, 2015 Commercial Commercial and multi-family real estate Residential 1-4 family Consumer Performing $ 19,539,579 $ 52,249,417 $ 77,484,430 $ 3,852,469 Nonperforming 140,369 831,681 388,584 4,824 Total $ 19,679,948 $ 53,081,098 $ 77,873,014 $ 3,857,293 Modifications: The Corporation’s loan and lease portfolio also includes certain loans and leases that have been modified in a Troubled Debt Restructuring (TDR), where economic concessions have been granted to borrowers who have experienced or are expected to experience financial difficulties. These concessions typically result from the Corporation’s loss mitigation activities and could include reductions in the interest rate, payment extensions, forgiveness of principal, forbearance or other actions. All TDRs are also classified as impaired loans and leases . When the Corporation modifies a loan or lease, management evaluates any possible concession based on the present value of expected future cash flows, discounted at the contractual interest rate of the original loan or lease agreement, except with the sole (remaining) source of repayment for the loan or lease is the operation or liquidation of the collateral. In these cases, management uses the current fair value of the collateral, less selling costs, instead of discounted cash flows. If management determines that the value of the modified loan or lease is less than the recorded investment in the loan or lease (net of previous charge-offs, deferred loan fees or costs and unamortized premium or discount), an impairment is recognized through a specific reserve in the allowance or a direct write down of the loan or lease balance if collection is not expected. The following table includes the recorded investment and number of modifications for TDR loans and leases during the three month period ended March 31, 2016. Number of modifications Recorded investment Allowance for loan and lease losses allocated Troubled Debt Restructurings: Commercial Real Estate 3 $ 252,190 - Total 3 $ 252,190 - The concessions granted in the above TDR’s were a modification of the original term. The terms were extended on two of the notes. One note was re-amortized with a balloon payment at the end of the term. The recorded investment in the loans did not change as a result of the modification. There are not any troubled debt restructurings for which there was a payment default in the current reporting period. The following is additional information with respect to loans and leases acquired through The Ohio State Bank acquisition: Contractual Principal Accretable Carrying Receivable Difference Amount Purchased Performing Loans and Leases Balance at December 31, 2015 $ 41,873,679 $ (1,809,468) $ 40,064,211 Change due to payments received (3,129,468) 100,855 (3,028,613) Transfer to foreclosed real estate - - - Change due to loan charge-off - - - Balance at March 31, 2016 $ 38,744,211 $ (1,708,613) $ 37,035,598 Contractual Non Principal Accretable Carrying Receivable Difference Amount Purchased Impaired Loans and Leases Balance at December 31, 2015 $ 1,959,427 $ (1,194,184) $ 765,243 Change due to payments received (18,872) 6,549 (12,323) Transfer to foreclosed real estate - - - Change due to loan charge-off (133,799) 123,764 (10,035) Balance at March 31, 2016 $ 1,806,756 $ (1,063,871) $ 742,885 As a result of The Ohio State Bank acquisition, the Corporation has loans, for which there was at acquisition, evidence of deterioration of credit quality since origination and for which it was probable at acquisition, that all contractually required payments would not be collected. The carrying amount of those loans as of March 31, 201 6 and December 31, 201 5 was $742,885 and $765,243, respectively. No provision for loan and lease losses was recognized during the period ended March 31, 201 6 and December 31, 201 5 related to the acquired loans as there was no significant change to the credit quality of the loans. |
Junior Subordinated Deferrable
Junior Subordinated Deferrable Interest Debentures | 3 Months Ended |
Mar. 31, 2016 | |
Junior Subordinated Deferrable Interest Debentures [Abstract] | |
Junior Subordinated Deferrable Interest Debentures | NOTE 5 – JUNIOR SUBORDINATED DEFERRABLE INTEREST DEBENTURES The Corporation has formed and invested $ 300,000 in a business trust, United (OH) Statutory Trust (“United Trust”) which is not consolidated by the Corporation. United Trust issued $10,000,000 of trust preferred securities, which are guaranteed by the Corporation, and are subject to mandatory redemption upon payment of the debentures. United Trust used the proceeds from the issuance of the trust preferred securities, as well as the Corporation’s capital investment, to purchase $10,300,000 of junior subordinated deferrable interest debentures issued by the Corporation. The debentures have a stated maturity date of March 26, 2033 . As of March 26, 2008, and quarterly thereafter, the debentures may be shortened at the Corporation’s option. Interest is payable quarterly at a floating rate adjustable quarterly and equal to 315 basis points over th e 3-month LIBOR amounting to 3.78% at March 31, 201 6 and 3.39% at March 31, 201 5 . The Corporation has the right, subject to events in default, to defer payments of interest on the debentures by extending the interest payment period for a period not exceeding 20 consecutive quarterly periods. The Corporation assumed $3,093,000 of trust preferred securities through The O hio State Bank acquisition with $3,000,000 of the liability guaranteed by the Corporation and the remaining $93,000 secured by an investment in the trust preferred securities. The trust preferred securities carrying value as of March 31, 201 6 and December 31, 201 5 was $2,480,864 and $2,472,401 respectively. The difference between the principal owed and the carrying value is due to the below-market interest rate on the debentures. The debentures have a stated maturity date of April 23, 2034 . Interest is at a floating rate adjustable quarterly and equal to 285 basis points over the 3-month LIBOR amounting to 3.47% at March 31, 201 6 and 3.08% at March 31, 2015 . Each issue of the trust preferred securities carries an interest rate identical to that of the related debenture. The securities have been structured to qualify as Tier I capital for regulatory purposes and the dividends paid on such are tax deductible. However, under Federal Reserve Board guidelines, the securities cannot be used to constitute more than 25% of the Corporation’s core Tier I capital inclusive of these securities. Interest expense on the debentures approximated $119,000 and $103,000 for the three month periods ended March 31, 201 6 and 201 5 , respectively, and is included in interest expense-other borrowings in the accompanying consolidated statements of income. |
Fair Value Measurements
Fair Value Measurements | 3 Months Ended |
Mar. 31, 2016 | |
Fair Value [Abstract] | |
Fair Value Measurements | NOTE 6 - FAIR VALUE MEASUREMENTS ASC 820-10 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. A fair value measurement assumes that the transaction to sell the asset or transfer the liability occurs in the principal market for the asset or liability or, in the absence of a principal market, the most advantageous market for the asset or liability. The price in the principal (or most advantageous) market used to measure the fair value of the asset or liability shall not be adjusted for transaction costs. An orderly transaction is a transaction that assumes exposure to the market for a period prior to the measurement date to allow for marketing activities that are usual and customary for transactions involving such assets and liabilities; it is not a forced transaction. Market participants are buyers and sellers in the principal market that are independent, knowledgeable, and both able and willing to transact. ASC 820-10 requires the use of valuation techniques that are consistent with the market approach, the income approach, and/or the cost approach. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets and liabilities. The income approach uses valuation techniques to convert future amounts, such as cash flows or earnings, to a single present amount on a discounted basis. The cost approach is based on the amount that currently would be required to replace the service capacity of an asset (replacement cost). Valuation techniques should be consistently applied. Inputs to valuation techniques refer to the assumptions that market participants would use in pricing the asset or liability. Inputs may be observable or unobservable. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability developed based on market data obtained from independent sources. Unobservable inputs reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. In that regard, ASC 820-10 establishes a fair value hierarchy for valuation inputs that gives the highest priority to quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The fair value hierarchy is as follows: Level 1 – Unadjusted quoted prices in active markets for identical assets or liabilities that the Corporation has the ability to access at the measurement 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 include quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability; and inputs that are derived principally from or corroborated by observable market data by correlation or other means. Level 3 – Unobservable inputs for the asset or liability for which there is little, if any, market activity at the measurement date. Unobservable inputs reflect the Corporation’s own assumptions about what market participants would use to price the asset or liability. The inputs are developed based on the best information available in the circumstances, which might include the Corporation’s own financial data such as internally developed pricing models, discounted cash flow methodologies, as well as instruments for which the fair value determination requires significant management judgment. Financial assets (there were no financial liabilities) measured at fair value on a r ecurring basis at March 31, 2016 and December 31, 2015 include available-for-sale securities, which are valued using Level 2 inputs except for one security which is valued using Level 1 inputs and one other security which is valued using Level 3 inputs and mortgage servicing rights, amo unting to $1,030,440 at March 31, 201 6 and $1,181, 487 December 31, 201 5 , which are valued using Level 3 inputs. Financial assets (there were no financial liabilities) measured at fair value on a non-recurring basis at March 31, 201 6 and December 31, 201 5 include other real estate owned, as well as impaired loans net of specific reserves approximating $3.5 million at March 31, 201 6 and $4.6 million at December 31, 2015 all of which are valued using Level 3 inputs. There were no financial instruments measured at fair value that moved to a lower level in the fair value hierarchy during the period ended March 31, 2016, due to the lack of observable quotes in inactive markets for those instruments at March 31, 2016 . The table below presents a reconciliation and income statement classification of gains and losses for mortgage servicing rights, which are measured at fair value on a recurring basis using significant unobservable inputs (Level 3), for the three month period ended March 31, 2016 and year ended December 31, 2015: March 31, December 31, 2016 2015 Mortgage Servicing Rights Balance at beginning of period $ 1,181,487 $ 1,217,931 Gains or losses, including realized and unrealized: Purchases, issuances, and settlements 21,780 252,288 Disposals - amortization based on loan payments and payoffs (345,629) (551,846) Changes in fair value $ 172,802 $ 263,114 Balance at end of period 1,030,440 1,181,487 Securities valued using Level 3 inputs Balance at beginning of period $ 2,388,864 $ 2,535,817 Principal payments received (37,016) (145,158) Changes in Fair Value - (1,795) Balance at end of period $ 2,351,848 $ 2,388,864 A description of the valuation methodologies used for instruments measured at fair value, as well as the general classification of such instruments pursuant to the valua tion hierarchy, and disclosure of unobservable inputs follows. In general, fair value is based upon quoted market prices, where available. If such quoted market prices are not available, fair value is based upon internally developed models that primarily use, as inputs, observable market-based parameters. Valuation adjustments may be made to ensure that financial instruments are recorded at fair value. These adjustments may include amounts to reflect counterparty credit quality, the Corporation’s creditworthiness, among other things, as well as unobservable parameters. Any such valuation adjustments are applied consistently over time. The Corporation’s valuation methodologies may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. While management believes the Corporation’s valuation methodologies are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different estimate of fair value at the reporting date. Securities Available-for-Sale Where quoted prices are available in an active market, securities are classified within Level 1 of the valuation hierarchy. Level 1 securities would typically include government bonds and exchange traded equities. If quoted market prices are not available, then fair values are estimated using pricing models, quoted prices of securities with similar characteristics, or discounted cash flows. Examples of such instruments, which would generally be classified within Level 2 of the valuation hierarchy, include U. S. Government and agencies, municipal bonds, mortgage-backed securities, and asset-backed securities. In certain cases where there is limited activity or less transparency around inputs to the valuation, securities are classified within Level 3 of the valuation hierarchy . The Corporation did have securities classified as Level 2 or Level 3 at March 31, 201 6 and December 31, 201 5 . There were no gains or losses relating to securities available-for-sale included in earnings before income taxes that were attributable to changes in fair values of securities held at March 31, 201 6 and December 31, 201 5 . Impaired Loans The Corporation does not record impaired loans at fair value on a recurring basis. However, periodically, a loan is considered impaired and is reported at the fair value of the underlying collateral less estimated cost to sell, if repayment is expected solely from collateral. Collateral values are estimated using Level 2 inputs, including recent appraisals and Level 3 inputs based on customized discounting criteria such as additional appraisal adjustments to consider deterioration of value subsequent to appraisal date and estimated cost to sell. Additional appraisal adjustments range between 15% and 35% of appraised value, and estimated selling cost ranges between 10% and 20% of the adjusted appraised value . Due to the significance of the Level 3 inputs, impaired loans fair values have been classified as Level 3. Mortgage Servicing Rights The Corporation records mortgage servicing rights at estimated fair value based on a discounted cash flow model which includes discount rates between 9% and 11% , in addition to prepayment, internal rate of return, servicing costs, inflation rate of servicing costs and earnings rate assumptions that are considered to be unobservable inputs. Due to the significance of the Level 3 inputs, mortgage servicing rights have been classified as Level 3. Other Real Estate Owned The Corporation values other real estate owned at the estimated fair value of the underlying collateral less appraisal adjustments between 10% and 70% of appraised value, and expected selling costs between 10% and 20% of adjusted appraised value. Such values are estimated primarily using appraisals and reflect a market value approach. Due to the significance of the Level 3 inputs, other real estate owned has been classified as Level 3 . Certain other financial assets and financial liabilities are measured at fair value on a nonrecurring basis; that is, the instruments are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances, for example, when there is evidence of impairment. Financial assets and financial liabilities, excluding impaired loans and other real estate owned, measured at fair value on a nonrecurring basis were not significant at March 31, 201 6 and December 31, 201 5 . |
Fair Value of Financial Instrum
Fair Value of Financial Instruments | 3 Months Ended |
Mar. 31, 2016 | |
Fair Value [Abstract] | |
Fair Value of Financial Instruments | NOTE 7 – FAIR VALUE OF FINANCIAL INSTRUMENTS The carrying amounts and estimated fair values of recognized financial instruments at March 31, 2016 and December 31, 2015 were as follows (dollars in thousands): March 31, 2016 December 31, 2015 Carrying amount Estimated value Carrying amount Estimated value Input Level FINANCIAL ASSETS Cash and cash equivalents $ 26,557 $ 26,557 $ 22,922 $ 22,922 1 Securities, including Federal Home Loan Bank stock 188,615 188,615 187,759 187,759 1,2,3 Certificates of deposit 1,992 1,992 1,992 1,992 2 Loans held for sale 412 412 347 347 3 Net loans 355,244 355,586 350,416 350,374 3 Mortgage servicing rights 1,030 1,030 1,181 1,181 3 $ 573,850 $ 574,192 $ 564,617 $ 564,575 FINANCIAL LIABILITIES Deposits Maturity $ 146,722 146,485 $ 148,486 $ 147,164 3 Non-maturity 378,979 378,979 369,934 369,934 1 Other borrowings 1,000 1,000 2,118 2,118 3 Junior subordinated deferrable interest debentures 12,781 7,329 12,772 8,265 3 $ 539,482 $ 533,793 $ 533,310 $ 527,481 The above summary does not include accrued interest receivable or cash surrender value of life insurance which are also considered financial instruments. The estimated fair value of such items is considered to be their carrying a mounts and would be considered L evel 1 input s . There are also unrecognized financial instruments at March 31, 201 6 and December 31, 201 5 which relate to commitments to extend credit and letters of credit. The contract amount of such financial instruments approximated $86,361,000 at March 31, 201 6 and $84,394,000 at December 31, 201 5 . Such amounts are also considered to be the estimated fair values. The following methods and assumptions were used to estimate the fair value of each class of financial instruments shown above: Cash and cash equivalents: Fair value is determined to be the carrying amount for these items (which include cash on hand, due from banks, and federal funds sold) because they represent cash or mature in 90 days or less, and do not represent unanticipated credit concerns. Securities: The fair value of securities is determined based on quoted market prices of the individual securities; if not available, estimated fair value is obtained by comparison to other known securities with similar risk and maturity characteristics. Such value does not consider possible tax ramifications or estimated transaction costs. Loans and leases: Fair value for loans and leases was estimated for portfolios of loans and leases with similar financial characteristics. For adjustable rate loans, which re-price at least annually and generally possess low risk characteristics, the carrying amount is believed to be a reasonable estimate of fair value. For fixed rate loans, the fair value is estimated based on a discounted cash flow analysis, considering weighted average rates and terms of the portfolio, adjusted for credit and interest rate risk inherent in the loans. Fair value for nonperforming loans is based on recent appraisals or estimated discounted cash flows. Mortgage servicing rights: The fair value for mortgage servicing rights is determined based on an analysis of the portfolio by an independent third party. Deposit liabilities: The fair value of core deposits, including demand deposits, savings accounts, and certain money market deposits, is the amount payable on demand. The fair value of fixed-maturity certificates of deposit is estimated using the rates offered at quarter end for deposits of similar remaining maturities. The estimated fair value does not include the benefit that results from the low-cost funding provided by the deposit liabilities compared to the cost of borrowing funds in the marketplace. Other borrowings and junior subordinated deferrable interest debentures: The fair value of other borrowings (consisting of Federal Home Loan Bank borrowings, securities sold under agreements to repurchase, and customer repurchase agreements), and junior subordinated deferrable interest debentures are determined using the net present value of discounted cash flows based on current borrowing rates for similar types of borrowing arrangements, and are obtained from an independent third party. Other financial instruments: The fair value of commitments to extend credit and letters of credit is determined to be the contract amount, since these financial instruments generally represent commitments at existing rates. The fair value of other borrowings is determined based on a discounted cash flow analysis using current interest rates. The fair value of other liabilities is generally considered to be carrying value except for the deferred compensation agreement. The fair value of the contract is determined based on a discounted cash flow analysis using a current interest rate for a similar instrument. The fair value estimates of financial instruments are made at a specific point in time based on relevant market information. These estimates do not reflect any premium or discount that could result from offering for sale at one time the entire holdings of a particular financial instrument over the value of anticipated future business and the value of assets and liabilities that are not considered financial instruments. Since no ready market exists for a significant portion of the financial instruments, fair value estimates are largely based on judgments after considering such factors as future expected credit losses, current economic conditions, risk characteristics of various financial instruments, and other factors. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and therefore cannot be determined with precision. Changes in assumptions could significantly affect these estimates. |
Subsequent Events
Subsequent Events | 3 Months Ended |
Mar. 31, 2016 | |
Subsequent Events [Abstract] | |
Subsequent Events | NOTE 8 – SUBSEQUENT EVENTS Management evaluated subsequent events through the date the consolidated financial statements were issued. Events or transactions occurring after March 31, 2016 but prior to when the consolidated financial statements were issued, that provided additional evidence about conditions that existed at March 31, 2016 have been recognized in the consolidated financial statements for the period ended March 31, 2016. Events or transactions that provided evidence about conditions that did not exist at March 31, 2016 but arose before the financial statements were issued have not been recognized in the consolidated financial statements for the period ended March 31, 2016. On April 11, 2016, the C orporation purchased land for $145,500 in Columbus Grove which is expected to be developed in the future for the construction of a new operations center. On April 19, 2016 , the C orporation's Board of Directors approved a cash dividend of $0.11 per common share payable June 15, 2016 to shareholders of record at the close of business on May 31, 2016 . |
Securities (Tables)
Securities (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Securities [Abstract] | |
Amortized Cost and Fair Value of Securities | The amortized cost and fair value of available-for-sale securities as of March 31, 2016 and December 31, 2015 are as follows (dollars in thousands): March 31, 2016 December 31, 2015 Amortized cost Fair value Amortized cost Fair value Available-for-sale: U.S. Government and agencies $ 3,998 $ 4,005 $ 3,998 $ 3,966 Obligations of states and political subdivisions 68,975 71,303 71,589 73,482 Mortgage-backed 105,637 107,462 104,223 104,480 Other 1,002 1,015 1,002 1,001 Total $ 179,612 $ 183,785 $ 180,812 $ 182,929 |
Unrealized Gain (Loss) on Securities | A summary of gross unrealized gains and losses on available-for-sale securities as of March 31, 2016 and December 31, 2015 follows (dollars in thousands): March 31, 2016 December 31, 2015 Gross unrealized gains Gross unrealized losses Gross unrealized gains Gross unrealized losses Available-for-sale: U.S. Government and agencies $ 7 $ - $ - $ 32 Obligations of states and political subdivisions 2,342 14 1,960 67 Mortgage-backed 1,917 92 1,071 814 Other 13 - - 1 Total $ 4,279 $ 106 $ 3,031 $ 914 |
Loans (Tables)
Loans (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Loans [Abstract] | |
Activity in the Allowance for Credit Losses on Financing Receivables | The following tables present the activity in the allowance for loan and lease losses by portfolio segment for the periods ending March 31, 2016 and 2015. Commercial Commercial and multi-family real estate Residential 1 – 4 family real estate Consumer Total Balance at December 31, 2015 $ 892,586 $ 2,540,393 $ 373,340 $ 28,147 $ 3,834,466 Provision (credit) charged to expenses 245,020 (669,442) 19,777 4,645 (400,000) Losses charged off - (10,596) - (7,096) (17,692) Recoveries 9,000 222,539 - 2,124 233,663 Balance at March 31, 2016 $ 1,146,606 $ 2,082,894 $ 393,117 $ 27,820 $ 3,650,437 Commercial Commercial and multi-family real estate Residential 1 – 4 family real estate Consumer Total Balance at December 31, 2014 $ 198,367 $ 3,255,148 $ 362,895 $ 23,098 $ 3,839,508 Provision (credit) charged to expenses 245,910 (183,506) 37,313 283 100,000 Losses charged off (326,801) (68,480) (108,412) (6,666) (510,359) Recoveries 57,283 16,184 18,481 1,299 93,247 Balance at March 31, 2015 $ 174,759 $ 3,019,346 $ 310,277 $ 18,014 $ 3,522,396 |
Allowance for Loan Losses, Current | The following tables present the balance in the allowance for loan and lease losses and the recorded investment in loans and leases by portfolio segment and based on impairment method for the periods ending March 31, 2016 and December 31, 2015: March 31, 2016 Commercial Commercial and multi-family real estate Residential 1 – 4 family real estate Consumer Total Allowance for loan and lease losses: Attributable to loans and leases individually evaluated for impairment $ 743,862 $ 579,795 $ - $ - $ 1,323,657 Collectively evaluated for impairment 402,744 1,503,099 393,117 27,820 2,326,780 Total allowance for loan and lease losses $ 1,146,606 $ 2,082,894 $ 393,117 $ 27,820 $ 3,650,437 Loans and leases: Individually evaluated for impairment $ 2,014,155 $ 2,789,957 $ - $ - $ 4,804,112 Acquired with deteriorated credit quality 40,979 641,662 60,244 - 742,885 Collectively evaluated for impairment 67,067,849 204,563,311 78,090,466 3,626,062 353,347,688 Total ending loans and leases balance $ 69,122,983 $ 207,994,930 $ 78,150,710 $ 3,626,062 $ 358,894,684 December 31, 2015 Commercial Commercial and multi-family real estate Residential 1 – 4 family real estate Consumer Total Allowance for loan and lease losses: Attributable to loans and leases individually evaluated for impairment $ 527,940 $ 842,643 $ - $ - $ 1,370,583 Collectively evaluated for impairment 364,646 1,697,750 373,340 28,147 2,463,883 Total allowance for loan and lease losses $ 892,586 $ 2,540,393 $ 373,340 $ 28,147 $ 3,834,466 Loans and leases: Individually evaluated for impairment $ 2,192,266 $ 3,819,786 $ - $ - $ 6,012,052 Acquired with deteriorated credit quality 42,733 669,336 73,625 - 785,694 Collectively evaluated for impairment 64,091,775 201,481,260 78,021,941 3,857,293 347,452,269 Total ending loans and leases balance $ 66,326,774 $ 205,970,382 $ 78,095,566 $ 3,857,293 $ 354,250,015 |
Schedule of Impaired Loans | Impaired loans and leases were as follows as of March 31, 2016 and December 31, 2015: March 31, 2016 December 31, 2015 Loans and leases with no allowance for loan and lease losses allocated $ 653,562 $ - Loans and leases with allowance for loan and lease losses allocated 4,150,550 6,012,053 Total impaired loans and leases 4,804,112 6,012,053 Amount of the allowance allocated to impaired loans and leases $ 1,323,657 $ 1,370,583 |
Schedule of Activity in Allowance of Impaired Loans | The following table presents loans and leases individually evaluated for impairment by class of loans as of March 31, 2016 and December 31, 2015: March 31, 2016 December 31, 2015 Recorded investment Allowance for loan and lease losses allocated Recorded investment Allowance for loan and lease losses allocated With no related allowance recorded: Commercial $ - $ - $ - $ - Commercial and multi-family real estate 653,562 - - - Agriculture - - - - Agricultural real estate - - - - Consumer - - - - Residential 1-4 family real estate - - - - With an allowance recorded: Commercial 2,014,155 743,862 2,192,266 527,940 Commercial and multi-family real estate 2,136,395 579,795 3,819,787 842,643 Agriculture - - - Agricultural real estate - - - Consumer - - - Residential 1-4 family real estate - - - Total $ 4,804,112 $ 1,323,657 $ 6,012,053 $ 1,370,583 |
Schedule of Financing Receivables, Non-Accrual Status | The following tables present the recorded investment in nonaccrual loans and leases, loans and leases past due over 90 days still on accrual and troubled debt restructurings by class of loans as of March 31, 2016 and December 31, 2015: March 31, 2016 Nonaccrual Loans and leases past due over 90 days still accruing Troubled Debt Restructurings Commercial $ 2,197,826 $ - $ - Commercial real estate 4,336,365 - 739,872 Agricultural real estate 134,587 - - Agriculture - - - Consumer 6,314 - - Residential: 1 – 4 family 1,418,947 - 386,009 Home equity - - - Total $ 8,094,039 $ - $ 1,125,881 December 31, 2015 Nonaccrual Loans and leases past due over 90 days still accruing Troubled Debt Restructurings Commercial $ 355,415 $ - $ - Commercial real estate 4,112,605 - 1,403,187 Agricultural real estate 52,061 259,858 - Agriculture 19,312 - - Consumer 11,977 - - Residential: 1 – 4 family 1,393,568 - 392,455 Home equity - - - Total $ 5,944,938 $ 259,858 $ 1,795,642 |
Past Due Financing Receivables | The following table presents the aging of the recorded investment in past due loans and leases as of March 31, 2016 by class of loans and leases: 30 – 59 days past due 60 – 89 days past due Greater than 90 days past due Total past due Loans and leases not past due Total Commercial $ 52,762 $ 137,996 $ 120,369 $ 311,127 $ 56,525,917 $ 56,837,044 Commercial real estate 48,356 63,243 1,056,489 1,168,088 185,253,158 186,421,246 Agriculture - 6,533 - 6,533 12,279,406 12,285,939 Agricultural real estate 34,003 - 86,913 120,917 21,452,767 21,573,684 Consumer 18,809 319 - 19,128 3,606,934 3,626,062 Residential real estate 1,234,871 562,286 309,686 2,106,843 76,043,866 78,150,710 Total $ 1,388,801 $ 770,377 $ 1,573,458 $ 3,732,636 $ 355,162,048 $ 358,894,684 The following table presents the aging of the recorded investment in past due loans and leases as of December 31, 2015 by class of loans and leases: 30 – 59 days past due 60 – 89 days past due Greater than 90 days past due Total past due Loans and leases not past due Total Commercial $ 80,898 $ 50,000 $ 121,057 $ 251,955 $ 53,210,222 $ 53,462,177 Commercial real estate 643,541 15,422 1,225,385 1,884,348 181,952,711 183,837,059 Agriculture 150,064 - 19,312 169,376 12,695,221 12,864,597 Agricultural real estate 93,871 - 259,858 353,729 21,779,594 22,133,323 Consumer 49,389 301 4,824 54,514 3,802,779 3,857,293 Residential real estate 2,146,892 244,123 388,584 2,779,599 75,315,967 78,095,566 Total $ 3,164,655 $ 309,846 $ 2,019,020 $ 5,493,521 $ 348,756,494 $ 354,250,015 |
Risk Category of Loans, Credit Quality Indicators | As of March 31, 2016 and December 31, 2015, and based on the most recent analysis performed, the risk category of loans by class of loans and leases is as follows: March 31, 2016 Pass Special Mention Substandard Doubtful Not rated Commercial $ 44,129,269 $ 2,508,258 $ 2,712,848 $ - $ 19,772,608 Commercial and multi- family real estate 144,866,186 7,414,303 4,680,528 - 51,033,913 Residential 1 - 4 family 219,437 - - - 77,931,273 Consumer - - - - 3,626,062 Total $ 189,214,891 $ 9,922,561 $ 7,393,376 $ - $ 152,363,855 December 31, 2015 Pass Special Mention Substandard Doubtful Not rated Commercial $ 41,184,348 $ 2,806,324 $ 2,656,154 $ - $ 19,679,948 Commercial and multi- family real estate 139,351,079 7,562,337 5,975,868 - 53,081,098 Residential 1 - 4 family 222,552 - - - 77,873,014 Consumer - - - - 3,857,293 Total $ 180,757,979 $ 10,368,661 $ 8,632,022 $ - $ 154,491,353 |
Performance of Residential and Consumer Loan Portfolio | The following table presents the recorded investment in all loans and leases that are not risk rated, based on payment activity as of March 31, 2016 and December 31, 2015: March 31, 2016 Commercial Commercial and multi-family real estate Residential 1-4 family Consumer Performing $ 19,652,239 $ 50,544,072 $ 77,621,587 $ 3,626,062 Nonperforming 120,369 489,841 309,686 - Total $ 19,772,608 $ 51,033,913 $ 77,931,273 $ 3,626,062 December 31, 2015 Commercial Commercial and multi-family real estate Residential 1-4 family Consumer Performing $ 19,539,579 $ 52,249,417 $ 77,484,430 $ 3,852,469 Nonperforming 140,369 831,681 388,584 4,824 Total $ 19,679,948 $ 53,081,098 $ 77,873,014 $ 3,857,293 |
Troubled Debt Restructurings on Financing Receivables | The following table includes the recorded investment and number of modifications for TDR loans and leases during the three month period ended March 31, 2016. Number of modifications Recorded investment Allowance for loan and lease losses allocated Troubled Debt Restructurings: Commercial Real Estate 3 $ 252,190 - Total 3 $ 252,190 - |
Schedule of Loans Acquired in Acquisition | The following is additional information with respect to loans and leases acquired through The Ohio State Bank acquisition: Contractual Principal Accretable Carrying Receivable Difference Amount Purchased Performing Loans and Leases Balance at December 31, 2015 $ 41,873,679 $ (1,809,468) $ 40,064,211 Change due to payments received (3,129,468) 100,855 (3,028,613) Transfer to foreclosed real estate - - - Change due to loan charge-off - - - Balance at March 31, 2016 $ 38,744,211 $ (1,708,613) $ 37,035,598 Contractual Non Principal Accretable Carrying Receivable Difference Amount Purchased Impaired Loans and Leases Balance at December 31, 2015 $ 1,959,427 $ (1,194,184) $ 765,243 Change due to payments received (18,872) 6,549 (12,323) Transfer to foreclosed real estate - - - Change due to loan charge-off (133,799) 123,764 (10,035) Balance at March 31, 2016 $ 1,806,756 $ (1,063,871) $ 742,885 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Fair Value [Abstract] | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation | The table below presents a reconciliation and income statement classification of gains and losses for mortgage servicing rights, which are measured at fair value on a recurring basis using significant unobservable inputs (Level 3), for the three month period ended March 31, 2016 and year ended December 31, 2015: March 31, December 31, 2016 2015 Mortgage Servicing Rights Balance at beginning of period $ 1,181,487 $ 1,217,931 Gains or losses, including realized and unrealized: Purchases, issuances, and settlements 21,780 252,288 Disposals - amortization based on loan payments and payoffs (345,629) (551,846) Changes in fair value $ 172,802 $ 263,114 Balance at end of period 1,030,440 1,181,487 Securities valued using Level 3 inputs Balance at beginning of period $ 2,388,864 $ 2,535,817 Principal payments received (37,016) (145,158) Changes in Fair Value - (1,795) Balance at end of period $ 2,351,848 $ 2,388,864 |
Fair Value of Financial Instr20
Fair Value of Financial Instruments (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Fair Value [Abstract] | |
Carrying Amounts and Fair Values of Recognized Financial Instruments | The carrying amounts and estimated fair values of recognized financial instruments at March 31, 2016 and December 31, 2015 were as follows (dollars in thousands): March 31, 2016 December 31, 2015 Carrying amount Estimated value Carrying amount Estimated value Input Level FINANCIAL ASSETS Cash and cash equivalents $ 26,557 $ 26,557 $ 22,922 $ 22,922 1 Securities, including Federal Home Loan Bank stock 188,615 188,615 187,759 187,759 1,2,3 Certificates of deposit 1,992 1,992 1,992 1,992 2 Loans held for sale 412 412 347 347 3 Net loans 355,244 355,586 350,416 350,374 3 Mortgage servicing rights 1,030 1,030 1,181 1,181 3 $ 573,850 $ 574,192 $ 564,617 $ 564,575 FINANCIAL LIABILITIES Deposits Maturity $ 146,722 146,485 $ 148,486 $ 147,164 3 Non-maturity 378,979 378,979 369,934 369,934 1 Other borrowings 1,000 1,000 2,118 2,118 3 Junior subordinated deferrable interest debentures 12,781 7,329 12,772 8,265 3 $ 539,482 $ 533,793 $ 533,310 $ 527,481 |
Securities (Amortized Cost and
Securities (Amortized Cost and Fair Value of Available-For-Sale Securities) (Details) - USD ($) | Mar. 31, 2016 | Dec. 31, 2015 |
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Amortized cost | $ 179,612,000 | $ 180,812,000 |
Fair value | 183,785,384 | 182,929,038 |
U.S. Government Agencies Debt Securities [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Amortized cost | 3,998,000 | 3,998,000 |
Fair value | 4,005,000 | 3,966,000 |
Obligations of States and Political Subdivisions [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Amortized cost | 68,975,000 | 71,589,000 |
Fair value | 71,303,000 | 73,482,000 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Amortized cost | 105,637,000 | 104,223,000 |
Fair value | 107,462,000 | 104,480,000 |
Other Available-for-Sale Securities [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Amortized cost | 1,002,000 | 1,002,000 |
Fair value | $ 1,015,000 | $ 1,001,000 |
Securities (Gross Unrealized Ga
Securities (Gross Unrealized Gains and Losses on Available-For-Sale Securities) (Details) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale securities gross unrealized gains | $ 4,279 | $ 3,031 |
Available-for-sale securities gross unrealized losses | 106 | 914 |
U.S. Government Agencies Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale securities gross unrealized gains | 7 | |
Available-for-sale securities gross unrealized losses | 32 | |
Obligations of States and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale securities gross unrealized gains | 2,342 | 1,960 |
Available-for-sale securities gross unrealized losses | 14 | 67 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale securities gross unrealized gains | 1,917 | 1,071 |
Available-for-sale securities gross unrealized losses | 92 | 814 |
Other Available-for-Sale Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale securities gross unrealized gains | $ 13 | |
Available-for-sale securities gross unrealized losses | $ 1 |
Loans (Narrative) (Details)
Loans (Narrative) (Details) - USD ($) | 3 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2015 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Impaired financing receivable, average recorded investment | $ 5,400,000 | $ 4,300,000 | |
Impaired financing receivable, interest income, accrual method | 81,500 | 49,000 | |
Provision charged to expenses | (400,000) | $ 100,000 | |
Ohio State Bancshares, Inc. [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Loans acquired with deteriorated credit quality | $ 742,885 | $ 765,243 |
Loans (Activity in the Allowanc
Loans (Activity in the Allowance for Loan Losses) (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan losses balance | $ 3,834,466 | $ 3,839,508 |
Provision (credit) charged to expenses | (400,000) | 100,000 |
Loans charged-off | (17,692) | (510,359) |
Recoveries | 233,663 | 93,247 |
Allowance for loan losses balance | 3,650,437 | 3,522,396 |
Commercial [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan losses balance | 892,586 | 198,367 |
Provision (credit) charged to expenses | 245,020 | 245,910 |
Loans charged-off | (326,801) | |
Recoveries | 9,000 | 57,283 |
Allowance for loan losses balance | 1,146,606 | 174,759 |
Commercial and Multi-Family Real Estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan losses balance | 2,540,393 | 3,255,148 |
Provision (credit) charged to expenses | (669,442) | (183,506) |
Loans charged-off | (10,596) | (68,480) |
Recoveries | 222,539 | 16,184 |
Allowance for loan losses balance | 2,082,894 | 3,019,346 |
Residential 1 - 4 Family Real Estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan losses balance | 373,340 | 362,895 |
Provision (credit) charged to expenses | 19,777 | 37,313 |
Loans charged-off | (108,412) | |
Recoveries | 18,481 | |
Allowance for loan losses balance | 393,117 | 310,277 |
Consumer [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan losses balance | 28,147 | 23,098 |
Provision (credit) charged to expenses | 4,645 | 283 |
Loans charged-off | (7,096) | (6,666) |
Recoveries | 2,124 | 1,299 |
Allowance for loan losses balance | $ 27,820 | $ 18,014 |
Loans (Activity in the Allowa25
Loans (Activity in the Allowance for Loan Losses by Portfolio Segment) (Details) - USD ($) | Mar. 31, 2016 | Dec. 31, 2015 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan losses, attributable to loans individually evaluated for impairment | $ 1,323,657 | $ 1,370,583 |
Allowance for loan losses, collectively evaluated for impairment | 2,326,780 | 2,463,883 |
Allowance for loan losses | 3,650,437 | 3,834,466 |
Loans individually evaluated for impairment | 4,804,112 | 6,012,052 |
Loans collectively evaluated for impairment | 353,347,688 | 347,452,269 |
Total loans balance | 358,894,684 | 354,250,015 |
Receivables Acquired with Deteriorated Credit Quality [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans acquired with deteriorated credit quality | 742,885 | 785,694 |
Commercial [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan losses, attributable to loans individually evaluated for impairment | 743,862 | 527,940 |
Allowance for loan losses, collectively evaluated for impairment | 402,744 | 364,646 |
Allowance for loan losses | 1,146,606 | 892,586 |
Loans individually evaluated for impairment | 2,014,155 | 2,192,266 |
Loans acquired with deteriorated credit quality | 19,772,608 | 19,679,948 |
Loans collectively evaluated for impairment | 67,067,849 | 64,091,775 |
Total loans balance | 56,837,044 | 53,462,177 |
Commercial [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans acquired with deteriorated credit quality | 40,979 | 42,733 |
Commercial [Member] | Commercial Borrower [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total loans balance | 69,122,983 | 66,326,774 |
Commercial and Multi-Family Real Estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan losses, attributable to loans individually evaluated for impairment | 579,795 | 842,643 |
Allowance for loan losses, collectively evaluated for impairment | 1,503,099 | 1,697,750 |
Allowance for loan losses | 2,082,894 | 2,540,393 |
Loans individually evaluated for impairment | 2,789,957 | 3,819,786 |
Loans acquired with deteriorated credit quality | 51,033,913 | 53,081,098 |
Loans collectively evaluated for impairment | 204,563,311 | 201,481,260 |
Total loans balance | 207,994,930 | 205,970,382 |
Commercial and Multi-Family Real Estate [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans acquired with deteriorated credit quality | 641,662 | 669,336 |
Residential 1 - 4 Family Real Estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan losses, collectively evaluated for impairment | 393,117 | 373,340 |
Allowance for loan losses | 393,117 | 373,340 |
Loans acquired with deteriorated credit quality | 77,931,273 | 77,873,014 |
Loans collectively evaluated for impairment | 78,090,466 | 78,021,941 |
Total loans balance | 78,150,710 | 78,095,566 |
Residential 1 - 4 Family Real Estate [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans acquired with deteriorated credit quality | 60,244 | 73,625 |
Agriculture [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total loans balance | 12,285,939 | 12,864,597 |
Consumer [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan losses, collectively evaluated for impairment | 27,820 | 28,147 |
Allowance for loan losses | 27,820 | 28,147 |
Loans acquired with deteriorated credit quality | 3,626,062 | 3,857,293 |
Loans collectively evaluated for impairment | 3,626,062 | 3,857,293 |
Total loans balance | $ 3,626,062 | $ 3,857,293 |
Loans (Loans Individually Evalu
Loans (Loans Individually Evaluated for Impairment) (Details) - USD ($) | Mar. 31, 2016 | Dec. 31, 2015 |
Financing Receivable, Impaired [Line Items] | ||
Recorded investment, with no related allowance | $ 653,562 | |
Recorded investment, with allowance recorded | 4,150,550 | $ 6,012,053 |
Total impaired loans and leases | 4,804,112 | 6,012,053 |
Amount of the allowance allocated to impaired loans and leases | 1,323,657 | 1,370,583 |
Commercial [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded investment, with allowance recorded | 2,014,155 | 2,192,266 |
Amount of the allowance allocated to impaired loans and leases | 743,862 | 527,940 |
Commercial and Multi-Family Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded investment, with no related allowance | 653,562 | |
Recorded investment, with allowance recorded | 2,136,395 | 3,819,787 |
Amount of the allowance allocated to impaired loans and leases | $ 579,795 | $ 842,643 |
Loans (Nonaccrual Loans) (Detai
Loans (Nonaccrual Loans) (Details) - USD ($) | Mar. 31, 2016 | Dec. 31, 2015 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | $ 8,094,039 | $ 5,944,938 |
Loans past due over 90 days and still accruing | 259,858 | |
Troubled debt restructurings | $ 1,125,881 | 1,795,642 |
Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | $ 2,197,826 | 355,415 |
Loans past due over 90 days and still accruing | ||
Commercial [Member] | Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | $ 4,336,365 | 4,112,605 |
Loans past due over 90 days and still accruing | ||
Troubled debt restructurings | $ 739,872 | 1,403,187 |
Agriculture [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 19,312 | |
Loans past due over 90 days and still accruing | ||
Agriculture [Member] | Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | $ 134,587 | 52,061 |
Loans past due over 90 days and still accruing | 259,858 | |
Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | $ 6,314 | 11,977 |
Loans past due over 90 days and still accruing | ||
Residential 1 - 4 Family Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | $ 1,418,947 | 1,393,568 |
Loans past due over 90 days and still accruing | ||
Troubled debt restructurings | $ 386,009 | $ 392,455 |
Residential Home Equity [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due over 90 days and still accruing |
Loans (Aging of the Recorded In
Loans (Aging of the Recorded Investment in Past Due Loans) (Details) - USD ($) | Mar. 31, 2016 | Dec. 31, 2015 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | $ 3,732,636 | $ 5,493,521 |
Loans not past due | 355,162,048 | 348,756,494 |
Total loans balance | 358,894,684 | 354,250,015 |
30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 1,388,801 | 3,164,655 |
60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 770,377 | 309,846 |
Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 1,573,458 | 2,019,020 |
Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 311,127 | 251,955 |
Loans not past due | 56,525,917 | 53,210,222 |
Total loans balance | 56,837,044 | 53,462,177 |
Commercial [Member] | 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 52,762 | 80,898 |
Commercial [Member] | 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 137,996 | 50,000 |
Commercial [Member] | Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 120,369 | 121,057 |
Commercial [Member] | Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 1,168,088 | 1,884,348 |
Loans not past due | 185,253,158 | 181,952,711 |
Total loans balance | 186,421,246 | 183,837,059 |
Commercial [Member] | Real Estate [Member] | 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 48,356 | 643,541 |
Commercial [Member] | Real Estate [Member] | 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 63,243 | 15,422 |
Commercial [Member] | Real Estate [Member] | Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 1,056,489 | 1,225,385 |
Agriculture [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 6,533 | 169,376 |
Loans not past due | 12,279,406 | 12,695,221 |
Total loans balance | $ 12,285,939 | 12,864,597 |
Agriculture [Member] | 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | $ 150,064 | |
Agriculture [Member] | 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | $ 6,533 | |
Agriculture [Member] | Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | $ 19,312 | |
Agriculture [Member] | Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 120,917 | 353,729 |
Loans not past due | 21,452,767 | 21,779,594 |
Total loans balance | 21,573,684 | 22,133,323 |
Agriculture [Member] | Real Estate [Member] | 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | $ 34,003 | $ 93,871 |
Agriculture [Member] | Real Estate [Member] | 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | ||
Agriculture [Member] | Real Estate [Member] | Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | $ 86,913 | $ 259,858 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 19,128 | 54,514 |
Loans not past due | 3,606,934 | 3,802,779 |
Total loans balance | 3,626,062 | 3,857,293 |
Consumer [Member] | 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 18,809 | 49,389 |
Consumer [Member] | 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 319 | 301 |
Consumer [Member] | Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 4,824 | |
Residential 1 - 4 Family Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans balance | 78,150,710 | 78,095,566 |
Residential 1 - 4 Family Real Estate [Member] | Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 2,106,843 | 2,779,599 |
Loans not past due | 76,043,866 | 75,315,967 |
Total loans balance | 78,150,710 | 78,095,566 |
Residential 1 - 4 Family Real Estate [Member] | Real Estate [Member] | 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 1,234,871 | 2,146,892 |
Residential 1 - 4 Family Real Estate [Member] | Real Estate [Member] | 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 562,286 | 244,123 |
Residential 1 - 4 Family Real Estate [Member] | Real Estate [Member] | Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | $ 309,686 | $ 388,584 |
Loans (Loans by Credit Quality
Loans (Loans by Credit Quality Indicators) (Details) - USD ($) | Mar. 31, 2016 | Dec. 31, 2015 |
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | $ 358,894,684 | $ 354,250,015 |
Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 189,214,891 | 180,757,979 |
Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 9,922,561 | 10,368,661 |
Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | $ 7,393,376 | $ 8,632,022 |
Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | ||
Not Rated [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | $ 152,363,855 | $ 154,491,353 |
Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 56,837,044 | 53,462,177 |
Commercial [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 44,129,269 | 41,184,348 |
Commercial [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 2,508,258 | 2,806,324 |
Commercial [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | $ 2,712,848 | $ 2,656,154 |
Commercial [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | ||
Commercial [Member] | Not Rated [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | $ 19,772,608 | $ 19,679,948 |
Commercial and Multi-Family Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 207,994,930 | 205,970,382 |
Commercial and Multi-Family Real Estate [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 144,866,186 | 139,351,079 |
Commercial and Multi-Family Real Estate [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 7,414,303 | 7,562,337 |
Commercial and Multi-Family Real Estate [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | $ 4,680,528 | $ 5,975,868 |
Commercial and Multi-Family Real Estate [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | ||
Commercial and Multi-Family Real Estate [Member] | Not Rated [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | $ 51,033,913 | $ 53,081,098 |
Residential 1 - 4 Family Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 78,150,710 | 78,095,566 |
Residential 1 - 4 Family Real Estate [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | $ 219,437 | $ 222,552 |
Residential 1 - 4 Family Real Estate [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | ||
Residential 1 - 4 Family Real Estate [Member] | Not Rated [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | $ 77,931,273 | $ 77,873,014 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | $ 3,626,062 | $ 3,857,293 |
Consumer [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | ||
Consumer [Member] | Not Rated [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | $ 3,626,062 | $ 3,857,293 |
Loans (Performance of the Loan
Loans (Performance of the Loan Portfolio) (Details) - USD ($) | Mar. 31, 2016 | Dec. 31, 2015 |
Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Nonimpaired loans | $ 19,772,608 | $ 19,679,948 |
Commercial [Member] | Performing Financial Instruments [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Nonimpaired loans | 19,652,239 | 19,539,579 |
Commercial [Member] | Nonperforming Financial Instruments [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Nonimpaired loans | 120,369 | 140,369 |
Commercial and Multi-Family Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Nonimpaired loans | 51,033,913 | 53,081,098 |
Commercial and Multi-Family Real Estate [Member] | Performing Financial Instruments [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Nonimpaired loans | 50,544,072 | 52,249,417 |
Commercial and Multi-Family Real Estate [Member] | Nonperforming Financial Instruments [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Nonimpaired loans | 489,841 | 831,681 |
Residential 1 - 4 Family Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Nonimpaired loans | 77,931,273 | 77,873,014 |
Residential 1 - 4 Family Real Estate [Member] | Performing Financial Instruments [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Nonimpaired loans | 77,621,587 | 77,484,430 |
Residential 1 - 4 Family Real Estate [Member] | Nonperforming Financial Instruments [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Nonimpaired loans | 309,686 | 388,584 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Nonimpaired loans | 3,626,062 | 3,857,293 |
Consumer [Member] | Performing Financial Instruments [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Nonimpaired loans | $ 3,626,062 | 3,852,469 |
Consumer [Member] | Nonperforming Financial Instruments [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Nonimpaired loans | $ 4,824 |
Loans (Troubled Debt Restructur
Loans (Troubled Debt Restructurings) (Details) | 3 Months Ended | |
Mar. 31, 2016USD ($)loan | Dec. 31, 2015USD ($) | |
Financing Receivable, Modifications [Line Items] | ||
Allowance for loan losses allocated | $ 1,323,657 | $ 1,370,583 |
Extended Maturity [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of modifications | loan | 3 | |
Recorded investment | $ 252,190 | |
Allowance for loan losses allocated | ||
Commercial Real Estate [Member] | Extended Maturity [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of modifications | loan | 3 | |
Recorded investment | $ 252,190 | |
Allowance for loan losses allocated |
Loans (Schedule of Loans Acquir
Loans (Schedule of Loans Acquired in Acquisition) (Details) - Ohio State Bancshares, Inc. [Member] | 3 Months Ended |
Mar. 31, 2016USD ($) | |
Performing Financial Instruments [Member] | |
Contractual Principal Receivable [Abstract] | |
Contractual principal receivable, beginning balance | $ 41,873,679 |
Contractual principal receivable, change due to payments received | (3,129,468) |
Contractual principal receivable, ending balance | 38,744,211 |
Accretable Difference [Abstract] | |
Accretable yield, beginning balance | (1,809,468) |
Accretable yield, change due to payments received | 100,855 |
Accretable yield, ending balance | (1,708,613) |
Carrying Amount [Abstract] | |
Carrying amount, beginning balance | 40,064,211 |
Carrying amount, change due to payments received | (3,028,613) |
Carrying amount, ending balance | 37,035,598 |
Nonperforming Financial Instruments [Member] | |
Contractual Principal Receivable [Abstract] | |
Contractual principal receivable, beginning balance | 1,959,427 |
Contractual principal receivable, change due to payments received | (18,872) |
Contractual principal receivable, change due to loan charge-off | (133,799) |
Contractual principal receivable, ending balance | 1,806,756 |
Accretable Difference [Abstract] | |
Accretable yield, beginning balance | (1,194,184) |
Accretable yield, change due to payments received | 6,549 |
Accretable yield, change due to loan charge-off | 123,764 |
Accretable yield, ending balance | (1,063,871) |
Carrying Amount [Abstract] | |
Carrying amount, beginning balance | 765,243 |
Carrying amount, change due to payments received | (12,323) |
Carrying amount, change due to loan charge-off | (10,035) |
Carrying amount, ending balance | $ 742,885 |
Junior Subordinated Deferrabl33
Junior Subordinated Deferrable Interest Debentures (Narrative) (Details) - USD ($) | 3 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2015 | |
Investments in and Advances to Affiliates, Balance, Principal Amount | $ 300,000 | ||
Guarantor Obligations, Maximum Exposure, Undiscounted | 10,000,000 | ||
Junior Subordinated Debenture Owed to Unconsolidated Subsidiary Trust | $ 12,780,864 | $ 12,772,401 | |
Subordinated Borrowing, Interest Rate | 3.78% | 3.39% | |
Interest Expense, Debt | $ 119,000 | $ 103,000 | |
Maximum Amount of Core Capital | 25.00% | ||
Maximum Consecutive Period that Interest Payments may be Deferred | 5 years | ||
Trust Preferred Securities [Member] | |||
Junior Subordinated Debenture Owed to Unconsolidated Subsidiary Trust | $ 10,300,000 | ||
Debt Instrument, Maturity Date | Apr. 23, 2034 | ||
London Interbank Offered Rate (LIBOR) [Member] | |||
Debt Instrument, Basis Spread on Variable Rate | 3.15% | ||
Ohio State Bancshares, Inc. [Member] | |||
Other Debt, Carrying Value | $ 2,480,864 | $ 2,472,401 | |
Ohio State Bancshares, Inc. [Member] | Junior Subordinated Debt [Member] | |||
Debt Instrument, Maturity Date | Mar. 26, 2033 | ||
Ohio State Bancshares, Inc. [Member] | Trust Preferred Securities [Member] | |||
Subordinated Borrowing, Interest Rate | 3.47% | 3.08% | |
Debt Instrument, Basis Spread on Variable Rate | 2.85% | ||
Liability Assumed | $ 3,093,000 | ||
Ohio State Bancshares, Inc. [Member] | Guaranteed Trust Preferred Securities [Member] | |||
Liability Assumed | 3,000,000 | ||
Ohio State Bancshares, Inc. [Member] | Trust Preferred Securities Secured by an Investment [Member] | |||
Liability Assumed | $ 93,000 |
Fair Value Measurements (Narrat
Fair Value Measurements (Narrative) (Details) - USD ($) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2016 | Dec. 31, 2015 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value assets moved to a lower level fair value hierarchy | $ 0 | $ 0 |
Gain (loss) relating to securities available-for-sale included in earnings | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial liabilities, fair value | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial liabilities, fair value | 0 | 0 |
Assets, nonrecurring, fair value | 3,500,000 | 4,600,000 |
Mortgage Servicing Rights [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, recurring, fair value | $ 1,030,440 | $ 1,181,487 |
Minimum [Member] | Mortgage Servicing Rights [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value inputs, discount rate | 9.00% | |
Minimum [Member] | Additional Appraisal Adjustments [Member] | Impaired Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value inputs, discount rate | 15.00% | |
Minimum [Member] | Additional Appraisal Adjustments [Member] | Other Real Estate Owned [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value inputs, discount rate | 10.00% | |
Minimum [Member] | Estimated Selling Costs [Member] | Impaired Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value inputs, discount rate | 10.00% | |
Minimum [Member] | Estimated Selling Costs [Member] | Other Real Estate Owned [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value inputs, discount rate | 10.00% | |
Maximum [Member] | Mortgage Servicing Rights [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value inputs, discount rate | 11.00% | |
Maximum [Member] | Additional Appraisal Adjustments [Member] | Impaired Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value inputs, discount rate | 35.00% | |
Maximum [Member] | Additional Appraisal Adjustments [Member] | Other Real Estate Owned [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value inputs, discount rate | 70.00% | |
Maximum [Member] | Estimated Selling Costs [Member] | Impaired Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value inputs, discount rate | 20.00% | |
Maximum [Member] | Estimated Selling Costs [Member] | Other Real Estate Owned [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value inputs, discount rate | 20.00% |
Fair Value Measurements (Reconc
Fair Value Measurements (Reconciliation and Income Statement Classification of Gains and Losses) (Details) - USD ($) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2016 | Dec. 31, 2015 | |
Servicing Contracts [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Balance at beginning of period | $ 1,181,487 | $ 1,217,931 |
Purchases, issuances, and settlements | 21,780 | 252,288 |
Disposals - amortization based on loan payments and payoffs | (345,629) | (551,846) |
Changes in fair value | 172,802 | 263,114 |
Balance at end of period | 1,030,440 | 1,181,487 |
Fair Value, Inputs, Level 3 [Member] | Securities (Assets) [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Balance at beginning of period | 2,388,864 | 2,535,817 |
Principal payments received | (37,016) | (145,158) |
Changes in fair value | (1,795) | |
Balance at end of period | $ 2,351,848 | $ 2,388,864 |
Fair Value of Financial Instr36
Fair Value of Financial Instruments (Narrative) (Details) - USD ($) | Mar. 31, 2016 | Dec. 31, 2015 |
Commitments to Extend Credit [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Other commitments | $ 86,361,000 | $ 84,394,000 |
Fair Value of Financial Instr37
Fair Value of Financial Instruments (Carrying Amounts and Estimated Fair Values of Recognized Financial Instruments) (Details) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Estimate of Fair Value Measurement [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total Assets | $ 574,192 | $ 564,575 |
Total financial liabilities | 533,793 | 527,481 |
Reported Value Measurement [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total Assets | 573,850 | 564,617 |
Total financial liabilities | 539,482 | 533,310 |
Fair Value, Inputs, Level 1 [Member] | Estimate of Fair Value Measurement [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 26,557 | 22,922 |
Fair Value, Inputs, Level 1 [Member] | Reported Value Measurement [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 26,557 | 22,922 |
Fair Value, Inputs, Level 1 [Member] | Non-Maturity Deposits [Member] | Estimate of Fair Value Measurement [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Deposits estimated value | 378,979 | 369,934 |
Fair Value, Inputs, Level 1 [Member] | Non-Maturity Deposits [Member] | Reported Value Measurement [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Deposits estimated value | 378,979 | 369,934 |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Securities, including Federal Home Loan Bank stock | 188,615 | 187,759 |
Certificates of deposit | 1,992 | 1,992 |
Fair Value, Inputs, Level 2 [Member] | Reported Value Measurement [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Securities, including Federal Home Loan Bank stock | 188,615 | 187,759 |
Certificates of deposit | 1,992 | 1,992 |
Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value Measurement [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans held for sale | 412 | 347 |
Net loans | 355,586 | 350,374 |
Mortgage servicing rights | 1,030 | 1,181 |
Other borrowings | 1,000 | 2,118 |
Junior subordinated deferrable interest debentures | 7,329 | 8,265 |
Fair Value, Inputs, Level 3 [Member] | Reported Value Measurement [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans held for sale | 412 | 347 |
Net loans | 355,244 | 350,416 |
Mortgage servicing rights | 1,030 | 1,181 |
Other borrowings | 1,000 | 2,118 |
Junior subordinated deferrable interest debentures | 12,781 | 12,772 |
Fair Value, Inputs, Level 3 [Member] | Maturity Deposits [Member] | Estimate of Fair Value Measurement [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Deposits estimated value | 146,485 | 147,164 |
Fair Value, Inputs, Level 3 [Member] | Maturity Deposits [Member] | Reported Value Measurement [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Deposits estimated value | $ 146,722 | $ 148,486 |
Subsequent Events (Narrative) (
Subsequent Events (Narrative) (Details) - Subsequent Event [Member] - USD ($) | Apr. 19, 2016 | Apr. 11, 2016 |
Subsequent Event [Line Items] | ||
Amount paid to purchase land | $ 145,500 | |
Dividends, date declared | Apr. 19, 2016 | |
Dividends payable (dollars per share) | $ 0.11 | |
Dividends, date to be paid | Jun. 15, 2016 | |
Dividends, date of record | May 31, 2016 |