Document And Entity Information
Document And Entity Information | 6 Months Ended |
Jun. 30, 2019shares | |
Document Information [Line Items] | |
Entity Registrant Name | UNITED BANCSHARES INC/OH |
Entity Central Index Key | 0001087456 |
Trading Symbol | uboh |
Current Fiscal Year End Date | --12-31 |
Entity Filer Category | Non-accelerated Filer |
Entity Current Reporting Status | Yes |
Entity Emerging Growth Company | false |
Entity Small Business | true |
Entity Common Stock, Shares Outstanding (in shares) | 3,270,635 |
Document Type | 10-Q |
Document Period End Date | Jun. 30, 2019 |
Document Fiscal Year Focus | 2019 |
Document Fiscal Period Focus | Q2 |
Amendment Flag | false |
Entity Shell Company | false |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
CASH AND CASH EQUIVALENTS | ||
Cash and due from banks | $ 9,470 | $ 11,698 |
Interest-bearing deposits in other banks | 10,873 | 4,777 |
Total cash and cash equivalents | 20,343 | 16,475 |
SECURITIES, available-for-sale | 174,666 | 167,354 |
FEDERAL HOME LOAN BANK STOCK, at cost | 5,302 | 5,302 |
LOANS HELD FOR SALE | 10,003 | 7,705 |
LOANS AND LEASES | 572,594 | 561,614 |
Less allowance for loan and lease losses | 3,864 | 3,527 |
Net loans and leases | 568,730 | 558,087 |
PREMISES AND EQUIPMENT, net | 18,698 | 18,968 |
GOODWILL | 28,616 | 28,616 |
CORE DEPOSIT INTANGIBLE ASSETS, net | 874 | 953 |
CASH SURRENDER VALUE OF LIFE INSURANCE | 18,416 | 18,223 |
OTHER REAL ESTATE OWNED | 108 | |
OTHER ASSETS, including accrued interest receivable | 9,764 | 8,509 |
TOTAL ASSETS | 855,412 | 830,300 |
Deposits: | ||
Non-interest-bearing | 115,178 | 115,333 |
Interest-bearing | 573,980 | 550,903 |
Total deposits | 689,158 | 666,236 |
Other borrowings | 59,250 | 65,443 |
Junior subordinated deferrable interest debentures | 12,891 | 12,874 |
Other liabilities | 6,059 | 4,803 |
Total liabilities | 767,358 | 749,356 |
SHAREHOLDERS’ EQUITY | ||
Common stock, stated value $1.00, authorized 10,000,000 shares; issued 3,760,557 shares | 3,761 | 3,761 |
Surplus | 15,080 | 14,960 |
Retained earnings | 74,919 | 71,670 |
Accumulated other comprehensive income (loss) | 1,957 | (1,764) |
Treasury stock, at cost, 489,922 shares at June 30, 2019 and 491,199 shares at December 31, 2018 | (7,663) | (7,683) |
Total shareholders’ equity | 88,054 | 80,944 |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ 855,412 | $ 830,300 |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Jun. 30, 2019 | Dec. 31, 2018 |
Common stock, par value (in dollars per share) | $ 1 | $ 1 |
Common stock, shares authorized (in shares) | 10,000,000 | 10,000,000 |
Common stock, shares issued (in shares) | 3,760,557 | 3,760,557 |
Treasury stock, shares (in shares) | 489,922 | 491,199 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
INTEREST INCOME | ||||
Loans and leases, including fees | $ 8,210 | $ 7,560 | $ 15,993 | $ 14,181 |
Securities: | ||||
Taxable | 655 | 631 | 1,317 | 1,212 |
Tax-exempt | 403 | 412 | 816 | 821 |
Other | 202 | 107 | 330 | 237 |
Total interest income | 9,470 | 8,710 | 18,456 | 16,451 |
INTEREST EXPENSE | ||||
Deposits | 1,599 | 854 | 3,009 | 1,572 |
Other borrowings | 626 | 529 | 1,267 | 1,022 |
Total interest expense | 2,225 | 1,383 | 4,276 | 2,594 |
Net interest income | 7,245 | 7,327 | 14,180 | 13,857 |
PROVISION FOR LOAN AND LEASE LOSSES | 150 | 110 | 250 | 200 |
Net interest income after provision for loan and lease losses | 7,095 | 7,217 | 13,930 | 13,657 |
NON-INTEREST INCOME | ||||
Gain on sale of loans | 2,186 | 857 | 3,624 | 1,956 |
Net securities gains (losses) | (8) | 6 | ||
Other operating income | 947 | 1,314 | 2,017 | 2,449 |
Total non-interest income | 3,133 | 2,163 | 5,641 | 4,411 |
NON-INTEREST EXPENSES | 7,492 | 6,799 | 14,714 | 13,350 |
INCOME BEFORE INCOME TAXES | 2,736 | 2,581 | 4,857 | 4,718 |
PROVISION FOR INCOME TAXES | 451 | 381 | 758 | 719 |
NET INCOME | $ 2,285 | $ 2,200 | $ 4,099 | $ 3,999 |
NET INCOME PER SHARE (basic and diluted) (in dollars per share) | $ 0.70 | $ 0.67 | $ 1.25 | $ 1.22 |
Weighted average common shares outstanding (basic) (in shares) | 3,270,635 | 3,268,111 | 3,270,522 | 3,268,083 |
Weighted average common shares outstanding (diluted) (in shares) | 3,272,041 | 3,272,585 | 3,271,928 | 3,272,557 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Net income | $ 2,285 | $ 2,200 | $ 4,099 | $ 3,999 |
OTHER COMPREHENSIVE INCOME (LOSS) | ||||
Unrealized holding gains (losses) during period | 2,158 | (731) | 4,710 | (3,342) |
Reclassification adjustments for gains (losses) included in net income | 8 | (6) | ||
Other comprehensive income (loss), before income taxes | 2,158 | (723) | 4,710 | (3,348) |
Income tax expense (credit) related to items of other comprehensive income (loss) | 453 | (152) | 989 | (703) |
Other comprehensive income (loss) | 1,705 | (571) | 3,721 | (2,645) |
COMPREHENSIVE INCOME | $ 3,990 | $ 1,629 | $ 7,820 | $ 1,354 |
Consolidated Statements of Shar
Consolidated Statements of Shareholders' Equity (Unaudited) - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Treasury Stock [Member] | Total |
BALANCE at Dec. 31, 2017 | $ 3,761 | $ 14,783 | $ 64,994 | $ (124) | $ (7,710) | $ 75,704 |
Net income | 3,999 | 3,999 | ||||
Other comprehensive income | (2,645) | (2,645) | ||||
Shares issued from treasury in connection with the Corporation's Employee Stock Purchase Plan | 4 | 7 | 11 | |||
Stock option expense | 67 | 67 | ||||
Cash dividends declared | (784) | (784) | ||||
Reclassification for accounting change | 24 | (24) | ||||
BALANCE at Jun. 30, 2018 | 3,761 | 14,854 | 68,233 | (2,793) | (7,703) | 76,352 |
BALANCE at Mar. 31, 2018 | 3,761 | 14,822 | 66,426 | (2,222) | (7,703) | 75,084 |
Net income | 2,200 | 2,200 | ||||
Other comprehensive income | (571) | (571) | ||||
Stock option expense | 32 | 32 | ||||
Cash dividends declared | (393) | (393) | ||||
BALANCE at Jun. 30, 2018 | 3,761 | 14,854 | 68,233 | (2,793) | (7,703) | 76,352 |
BALANCE at Dec. 31, 2018 | 3,761 | 14,960 | 71,670 | (1,764) | (7,683) | 80,944 |
Net income | 4,099 | 4,099 | ||||
Other comprehensive income | 3,721 | 3,721 | ||||
Shares issued from treasury in connection with the Corporation's Employee Stock Purchase Plan | 10 | 20 | 30 | |||
Stock option expense | 110 | 110 | ||||
Cash dividends declared | (850) | (850) | ||||
BALANCE at Jun. 30, 2019 | 3,761 | 15,080 | 74,919 | 1,957 | (7,663) | 88,054 |
BALANCE at Mar. 31, 2019 | 3,761 | 15,025 | 73,058 | 252 | (7,663) | 84,433 |
Net income | 2,285 | 2,285 | ||||
Other comprehensive income | 1,705 | 1,705 | ||||
Stock option expense | 55 | 55 | ||||
Cash dividends declared | (424) | (424) | ||||
BALANCE at Jun. 30, 2019 | $ 3,761 | $ 15,080 | $ 74,919 | $ 1,957 | $ (7,663) | $ 88,054 |
Consolidated Statements of Sh_2
Consolidated Statements of Shareholders' Equity (Unaudited) (Parentheticals) - $ / shares | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Stock issued during the period, shares, Employee Stock Purchase Plans (in shares) | 1,277 | 468 | ||
Cash dividends declared per share (in dollars per share) | $ 0.13 | $ 0.12 | $ 0.26 | $ 0.24 |
Condensed Consolidated Statem_2
Condensed Consolidated Statement of Cash Flows (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
CASH FLOWS FROM OPERATING ACTIVITIES | $ 1,638 | $ (620) |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Proceeds from sales, calls and maturities of available-for-sale securities | 26,491 | 25,281 |
Purchases of available-for-sale securities | (29,510) | (32,743) |
Proceeds from sale of other real estate owned | 68 | 31 |
Net increase in loans and leases | (10,585) | (32,156) |
Purchases of premises and equipment | (183) | (321) |
Net cash used in investing activities | (13,719) | (39,908) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Net increase in deposits | 22,962 | 10,807 |
Proceeds from other borrowings | 25,000 | |
Repayments of other borrowings | (6,193) | (9,172) |
Proceeds from sale of treasury shares | 30 | 11 |
Cash dividends paid | (850) | (784) |
Net cash provided by financing activities | 15,949 | 25,862 |
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 3,868 | (14,666) |
CASH AND CASH EQUIVALENTS | ||
At beginning of period | 16,475 | 27,274 |
At end of period | 20,343 | 12,608 |
SUPPLEMENTAL CASH FLOW DISCLOSURES | ||
Interest | 4,258 | 2,631 |
Federal income taxes | ||
Non-cash investing activities: | ||
Transfer of loans to other real estate owned | 70 | |
Change in net unrealized gain or loss on available-for-sale securities | $ 4,710 | $ (3,348) |
Note 1 - Consolidated Financial
Note 1 - Consolidated Financial Statements | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block] | NOTE 1 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 not six June 30, 2019 not may December 31, 2019 December 31, 2018 10 December 31, 2018 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. (“UBC Property”), 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. |
Note 2 - New Accounting Pronoun
Note 2 - New Accounting Pronouncements | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | NOTE 2 In February 2016, No. 2016 02, 842 12 December 15, 2018. No. 2016 02 January 1, 2019 other assets and other liabilities of $2,168,000. not In June 2016, 2016 13, 326 December 15, 2019. four 2016 13 2019. third December 31, 2019. not 2016 13 July 17, 2019, 2016 13. In January 2017, 2017 04, 350 2 December 15, 2019, January 1, 2017. not In August 2017, 2017 12, 815 December 15, 2018. No. 2017 12 January 1, 2019. no 2017 12. |
Note 3 - Securities
Note 3 - Securities | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | NOTE 3 The amortized cost and fair value of available-for-sale securities as of June 30, 2019 December 31, 2018 (in thousands) June 30, 2019 December 31, 2018 Amortized cost Fair value Amortized cost Fair value Available-for-sale: Obligations of states and political subdivisions $ 52,079 $ 53,908 $ 59,585 $ 59,466 Mortgage-backed 119,108 119,770 109,000 106,924 Other 1,002 988 1,002 964 Total $ 172,189 $ 174,666 $ 169,587 $ 167,354 A summary of gross unrealized gains and losses on available-for-sale securities as of June 30, 2019 December 31, 2018 (in thousands) June 30, 2019 December 31, 2018 Gross unrealized gains Gross unrealized losses Gross unrealized gains Gross unrealized losses Available-for-sale: Obligations of states and political subdivisions $ 1,830 $ 1 $ 354 $ 473 Mortgage-backed 987 325 162 2,238 Other - 14 - 38 Total $ 2,817 $ 340 $ 516 $ 2,749 |
Note 4 - Loans and Leases
Note 4 - Loans and Leases | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | NOTE 4 The following tables present the activity in the allowance for loan and lease losses by portfolio segment for the six June 30, 2019 2018 (in thousands) Commercial Commercial and agricultural real estate Residential 1 – 4 family real estate Consumer Total Balance at December 31, 2018 $ 534 $ 2,355 $ 576 $ 62 $ 3,527 Provision charged to expenses 315 (98 ) 28 5 250 Losses charged off - - (25 ) (4 ) (29 ) Recoveries 8 94 14 - 116 Balance at June 30, 2019 $ 857 $ 2,351 $ 593 $ 63 $ 3,864 Balance at December 31, 2017 $ 501 $ 1,746 $ 545 $ 43 $ 2,835 Provision charged to expenses 43 94 48 15 200 Losses charged off (19 ) (17 ) (52 ) (6 ) (94 ) Recoveries 33 200 - 1 234 Balance at June 30, 2018 $ 558 $ 2,023 $ 541 $ 53 $ 3,175 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 as of June 30, 2019 December 31, 2018 (in thousands) June 30, 2019 Commercial Commercial and agricultural 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 $ 355 $ 37 $ - $ - $ 392 Collectively evaluated for impairment 502 2,314 593 63 3,472 Total allowance for loan and lease losses $ 857 $ 2,351 $ 593 $ 63 $ 3,864 Loans and leases: Individually evaluated for impairment $ 1,382 $ 1,466 $ - $ - $ 2,848 Acquired with deteriorated credit quality - 158 59 - 217 Collectively evaluated for impairment 82,912 357,415 121,446 7,756 569,529 Total ending loans and leases balance $ 84,294 $ 359,039 $ 121,505 $ 7,756 $ 572,594 December 31, 2018 Commercial Commercial and agricultural 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 $ 63 $ 65 $ - $ - $ 128 Collectively evaluated for impairment 471 2,290 576 62 3,399 Total allowance for loan and lease losses $ 534 $ 2,355 $ 576 $ 62 $ 3,527 Loans and leases: Individually evaluated for impairment $ 361 $ 970 $ - $ - $ 1,331 Acquired with deteriorated credit quality - 226 70 - 296 Collectively evaluated for impairment 80,269 353,250 119,772 6,696 559,987 Total ending loans and leases balance $ 80,630 $ 354,446 $ 119,842 $ 6,696 $ 561,614 The average recorded investment in impaired loans and leases (excluding loans and leases acquired with deteriorated credit quality) for the six June 30, 2019 was $1,821,000 none six June 30, 2018). 392, 000 June 30, 2019 to no June 30, 2018 approximately $139,000 six June 30, 2019 none six June 30, 2018. The following table presents the recorded investment in nonaccrual loans and leases, loans and leases past due over 90 June 30, 2019 December 31, 2018 (in thousands) June 30, 2019 Nonaccrual Loans and leases past due over 90 days still accruing Troubled Debt Restructurings Commercial $ 102 $ - $ 23 Commercial real estate 528 - 287 Agricultural real estate 215 - - Agriculture - - - Consumer - - - Residential: 1 – 4 family 258 519 356 Total $ 1,103 $ 519 $ 666 December 31, 2018 Commercial $ 121 $ - $ 24 Commercial real estate 754 - 228 Agricultural real estate 216 - - Agriculture - - - Consumer - - - Residential: 1 – 4 family 354 161 372 Total $ 1,445 $ 161 $ 624 The following table presents the aging of the recorded investment in past due loans and leases as of June 30, 2019 December 31, 2018 (in thousands) June 30, 2019 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 $ 234 $ - $ - $ 234 $ 72,396 $ 72,630 Commercial real estate 1,592 - 39 1,631 325,226 326,857 Agriculture - 177 - 177 11,487 11,664 Agricultural real estate 95 - 241 336 31,846 32,182 Consumer - - - - 7,756 7,756 Residential real estate 1,937 - 567 2,504 119,001 121,505 Total $ 3,858 $ 177 $ 847 $ 4,882 $ 567,712 $ 572,594 December 31, 2018 Commercial $ 482 $ - $ - $ 482 $ 68,503 $ 68,985 Commercial real estate 580 - 155 735 322,032 322,767 Agriculture - - - - 11,645 11,645 Agricultural real estate 7 - 241 248 31,431 31,679 Consumer 4 - - 4 6,692 6,696 Residential real estate 2,471 371 278 3,120 116,722 119,842 Total $ 3,544 $ 371 $ 674 $ 4,589 $ 557,025 $ 561,614 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 non-homogenous loans and leases, such as commercial and commercial real estate loans and leases. The Corporation uses the following definitions for risk ratings: ● Pa ss not ● Special Mention: not not 1 2 ● Substandard: may may ● Doubtful: The following table provides a summary of the loan portfolio risk grades, as applicable, based on the most recent analysis performed, as of June 30, 2019 December 31, 2018 As of June 30, 2019 December 31, 2018 (in thousands) June 30, 2019 Pass Special Mention Substandard Doubtful Not rated Commercial $ 81,015 $ 1,900 $ 1,379 $ - $ - Commercial and multi-family real estate 350,153 6,604 2,243 - 39 Residential 1 - 4 family 9,869 - - - 111,636 Consumer - - - - 7,756 Total $ 441,037 $ 8,504 $ 3,622 $ - $ 119,431 December 31, 2018 Commercial $ 79,179 $ - $ 1,451 $ - $ - Commercial and multi-family real estate 346,580 4,755 3,111 - - Residential 1 - 4 family 10,461 - - - 109,381 Consumer - - - - 6,696 Total $ 436,220 $ 4,755 $ 4,562 $ - $ 116,077 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 not 90 not June 30, 2019 December 31, 2018 (in thousands) June 30, 2019 Commercial and multi-family real estate Residential 1-4 family Consumer Performing $ 23 $ 111,070 $ 7,756 Nonperforming 16 566 - Total $ 39 $ 111,636 $ 7,756 December 31, 2018 Performing $ - $ 109,103 $ 6,696 Nonperforming - 278 - Total $ - $ 109,381 $ 6,696 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 when 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 There were two six June 30, 2019 . One two The Corporation acquired The Ohio State Bank (“OSB”) in November 2014 September 2017. not The following is information related to loans and leases acquired in these transactions, including purchased impaired loans: The Ohio State Bank (in thousands) Contractual Principal Accretable Carrying Receivable Difference Amount Purchased Performing Loans and Leases Balance at December 31, 2018 $ 19,043 $ (658 ) $ 18,385 Change due to payments received (2,660 ) 148 (2,512 ) Transfer to foreclosed real estate - - - Change due to loan charge-off - - - Balance at June 30, 2019 $ 16,383 $ (510 ) $ 15,873 Purchased Impaired Loans and Leases Balance at December 31, 2018 $ 196 $ (163 ) $ 33 Change due to payments received (26 ) 25 (1 ) Transfer to foreclosed real estate - - - Change due to loan charge-off - - - Balance at June 30, 2019 $ 170 $ (138 ) $ 32 Benchmark Bank (in thousands) Contractual Principal Accretable Carrying Receivable Difference Amount Purchased Performing Loans and Leases Balance at December 31, 2018 $ 74,837 $ (1,553 ) $ 73,284 Change due to payments received (7,771 ) 155 (7,616 ) Transfer to foreclosed real estate - - - Change due to loan charge-off - - - Balance at June 30, 2019 $ 67,066 $ (1,398 ) $ 65,668 Purchased Impaired Loans and Leases Balance at December 31, 2018 $ 516 $ (253 ) $ 263 Change due to payments received (139 ) 61 (78 ) Transfer to foreclosed real estate - - - Change due to loan charge-off - - - Balance at June 30, 2019 $ 377 $ (192 ) $ 185 There was no six June 30, 2019 2018 no |
Note 5 - Other Borrowings
Note 5 - Other Borrowings | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | NOTE 5 Other borrowings consists of the following at June 30, 2019 December 31, 2018 (in thousands) June 30, December 31, 2019 2018 Federal Home Loan Bank borrowings: Secured note, with interest at 2.55%, due March, 2019 $ - $ 1,281 Secured note, with interest at 1.72%, due September, 2020 6,000 6,000 Secured note, with interest at 2.90%, due June, 2021 8,000 8,000 Secured note, with variable interest, at 2.72% at June 30, 2019 and 2.99% at December 31, 2018, due September, 2021 7,000 7,000 Secured note, with interest at 1.86%, due September, 2021 6,000 6,000 Secured note, with interest at 2.94%, due December, 2021 8,000 8,000 Secured note, with interest at 2.98%, due June, 2022 9,000 9,000 Secured note, with interest at 1.97%, due September, 2022 6,000 6,000 Zions Bank: Secured note, with interest at 2.64%, due January, 2019 - 2,917 United Bankers Bank Note payable, with interest at 4.875% and $250,000 principal payments payable quarterly commencing December 1, 2018, with any remaining unpaid principal, due September 1, 2022. All Union Bank stock is held as collateral. 9,250 9,750 Secured note, with interest at 3.00%, due January, 2019 - 1,495 Total other borrowings $ 59,250 $ 65,443 Federal Home Loan Bank borrowings are secured by Federal Home Loan Bank stock and eligible mortgage loans approxima ting $138,121,000 $137,744,000 June 30, 2019 December 31, 2018 |
Note 6 - Junior Subordinated De
Note 6 - Junior Subordinated Deferrable Interest Debentures | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Subordinated Borrowings Disclosure [Text Block] | NOTE 6 The Corporation has formed and invested $300,000 not $10,000,000 $10,300,000 March 26, 2033. March 26, 2008, may 315 3 amounting to 5.48% June 30, 2019 5.97% December 31, 2018 not 20 The Corporation assumed $3,093,000 $3,000,000 $93,000 June 30, 2019 December 31, 2018 $2,591,000 $2,574,000, April 23, 2034. 285 3 to 5.43% June 30, 2019 5.33% December 31, 2018 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% Interest expense on the debentures amounted to $ 495,000 $456,000 six June 30, 2019 2018 |
Note 7 - Fair Value Measurement
Note 7 - Fair Value Measurements | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | NOTE 7 ASC 820 10 not not ASC 820 10 may 820 10 Level 1 Level 2 1 2 not Level 3 Financial assets (there were no June 30, 2019 December 31, 2018 2 $1,007,000 June 30, 2019 $1,313,000 December 31, 2018 3 inputs. Financial assets measured at fair value on a nonrecurring basis at June 30, 2019 $2,848,000 $1,331,000 December 31, 2018. second 2019. There were no June 30, 2019 June 30, 2019 The tables below present 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 six June 30, 2019 December 31, 2018 (in thousands) June 30, December 31, 2019 2018 Mortgage Servicing Rights Balance at beginning of period $ 1,313 $ 1,270 Gains or losses, including realized and unrealized: Purchases, issuances, and settlements 53 164 Disposals - amortization based on loan payments and payoffs (77 ) (147 ) Changes in fair value (282 ) 26 Balance at end of period $ 1,007 $ 1,313 A description of the valuation methodologies used for instruments measured at fair value, as well as the general classification of such instruments pursuant to the valuation hierarchy, 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 may may may may not Securities Available-for-Sale Where quoted prices are available in an active market, securities are classified within Level 1 1 not 2 3 Impaired Loans The Corporation does not 2 3 15% 35% 10% 20% 3 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 11% 13%, 3 3. Other Real Estate Owned The Corporation values other real estate owned at the estimated fair value of the underlying collateral less appraisal adjustments typically between 10% 30% 10% 20% 3 3. Certain other financial assets and financial liabilities are measured at fair value on a nonrecurring basis; that is, the instruments are not not June 30, 2019 December 31, 2018 |
Note 8 - Fair Value of Financia
Note 8 - Fair Value of Financial Instruments | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Financial Instruments Disclosure [Text Block] | NOTE 8 The carrying amounts and estimated fair values of recognized financial instruments at June 30, 2019 December 31, 2018 (in thousands) June 30, 2019 December 31, 2018 Carrying amount Estimated value Carrying amount Estimated value Input Level FINANCIAL ASSETS Cash and cash equivalents $ 20,343 $ 20,343 $ 16,475 $ 16,475 1 Securities, including FHLB stock 179,968 179,968 172,656 172,656 2,3 Loans held for sale 10,003 10,003 7,705 7,705 3 Net loans and leases 568,730 567,759 558,087 554,223 3 Mortgage servicing rights 1,007 1,007 1,313 1,313 3 Hedging assets 1,087 1,087 492 492 3 Total Financial Assets $ 781,138 $ 780,167 $ 756,728 $ 752,864 FINANCIAL LIABILITIES Deposits Maturity $ 195,422 $ 195,191 $ 180,675 $ 178,947 3 Non-maturity 493,736 493,736 485,561 485,561 1 Other borrowings 59,250 59,499 65,443 65,029 3 Junior subordinated deferrable interest debentures 12,891 8,819 12,874 8,318 3 Hedging liabilities 202 202 86 86 3 Total Financial Liabilities $ 761,501 $ 757,447 $ 744,639 $ 737,941 The above summary does not There are also unrecognized financial instruments at June 30, 2019 December 31, 2018 to $135,623,000 June 30, 2019 $147,526,000 December 31, 2018 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 not Securities: The fair value of securities is determined based on quoted market prices of the individual securities; if not not Loans held for sale: The fair value of loans held for sale is determined based on the sales price of similar loans. Loan held for sale are typically held for 60 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 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 Other borrowings and junior subordinated deferrable interest debentures: The fair value of other borrowings 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 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 one not no |
Note 9 - Stock Options
Note 9 - Stock Options | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | NOTE 9 The United Bancshares, Inc. 2016 250,000 The Corporation has issued to date 33,352 2016 $19.32, 30,151 2017 $21.70, 31,267 2018 $23.30, 33,853 2019 $22.97 six June 30, 2019 June 30, 2018 June 30, June 30, 2019 2018 Outstanding, beginning of period 93,069 63,503 Granted 33,853 - Exercised - - Forfeited - (1,701 ) Outstanding, end of period 126,922 61,802 Weighted average exercise price at end of period $ 21.81 $ 20.42 The options vest over a three June 30, 2019 31,718 11,117 June 30, 2018 of 5.7 The fair value of options granted is estimated at the date of grant using the Black Scholes option pricing model. Following are assumptions used in calculating the fair value of the options granted: 2019 2018 2017 2016 Weighted-average fair value of options granted $ 7.77 $ 7.87 $ 7.35 $ 6.27 Average dividend yield 2.26 % 2.18 % 2.23 % 2.31 % Expected volatility 40.00 % 40.00 % 40.00 % 40.00 % Rick-free interest rate 1.93 % 2.81 % 2.06 % 1.58 % Expected term (years) 7 7 7 7 Total compensation expense related to the stock options granted in 2016 $209,000 36 January 1, 2017. 2017, $209,000 36 August 1, 2017. 2018 $246,000 36 September 1, 2018. 2019 $263,000 36 July 1, 2019. $55,000 $111,000 six June 30, 2019 to $32,000 $67,000 six June 30, 2018 |
Note 10 - Subsequent Events
Note 10 - Subsequent Events | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | NOTE 10 Management evaluated subsequent events through the date the consolidated financial statements were issued. Events or transactions occurring after June 30, 2019 June 30, 2019 June 30, 2019 not June 30, 2019 not June 30, 2019 On July 16, 2019 $0.13 September 16, 2019 on August 31, 2019 |
Note 3 - Securities (Tables)
Note 3 - Securities (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | (in thousands) June 30, 2019 December 31, 2018 Amortized cost Fair value Amortized cost Fair value Available-for-sale: Obligations of states and political subdivisions $ 52,079 $ 53,908 $ 59,585 $ 59,466 Mortgage-backed 119,108 119,770 109,000 106,924 Other 1,002 988 1,002 964 Total $ 172,189 $ 174,666 $ 169,587 $ 167,354 |
Unrealized Gain (Loss) on Investments [Table Text Block] | (in thousands) June 30, 2019 December 31, 2018 Gross unrealized gains Gross unrealized losses Gross unrealized gains Gross unrealized losses Available-for-sale: Obligations of states and political subdivisions $ 1,830 $ 1 $ 354 $ 473 Mortgage-backed 987 325 162 2,238 Other - 14 - 38 Total $ 2,817 $ 340 $ 516 $ 2,749 |
Note 4 - Loans and Leases (Tabl
Note 4 - Loans and Leases (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Financing Receivable, Allowance for Credit Loss [Table Text Block] | (in thousands) Commercial Commercial and agricultural real estate Residential 1 – 4 family real estate Consumer Total Balance at December 31, 2018 $ 534 $ 2,355 $ 576 $ 62 $ 3,527 Provision charged to expenses 315 (98 ) 28 5 250 Losses charged off - - (25 ) (4 ) (29 ) Recoveries 8 94 14 - 116 Balance at June 30, 2019 $ 857 $ 2,351 $ 593 $ 63 $ 3,864 Balance at December 31, 2017 $ 501 $ 1,746 $ 545 $ 43 $ 2,835 Provision charged to expenses 43 94 48 15 200 Losses charged off (19 ) (17 ) (52 ) (6 ) (94 ) Recoveries 33 200 - 1 234 Balance at June 30, 2018 $ 558 $ 2,023 $ 541 $ 53 $ 3,175 |
Financing Receivable, Current, Allowance for Credit Loss [Table Text Block] | (in thousands) June 30, 2019 Commercial Commercial and agricultural 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 $ 355 $ 37 $ - $ - $ 392 Collectively evaluated for impairment 502 2,314 593 63 3,472 Total allowance for loan and lease losses $ 857 $ 2,351 $ 593 $ 63 $ 3,864 Loans and leases: Individually evaluated for impairment $ 1,382 $ 1,466 $ - $ - $ 2,848 Acquired with deteriorated credit quality - 158 59 - 217 Collectively evaluated for impairment 82,912 357,415 121,446 7,756 569,529 Total ending loans and leases balance $ 84,294 $ 359,039 $ 121,505 $ 7,756 $ 572,594 December 31, 2018 Commercial Commercial and agricultural 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 $ 63 $ 65 $ - $ - $ 128 Collectively evaluated for impairment 471 2,290 576 62 3,399 Total allowance for loan and lease losses $ 534 $ 2,355 $ 576 $ 62 $ 3,527 Loans and leases: Individually evaluated for impairment $ 361 $ 970 $ - $ - $ 1,331 Acquired with deteriorated credit quality - 226 70 - 296 Collectively evaluated for impairment 80,269 353,250 119,772 6,696 559,987 Total ending loans and leases balance $ 80,630 $ 354,446 $ 119,842 $ 6,696 $ 561,614 |
Financing Receivable, Nonaccrual [Table Text Block] | (in thousands) June 30, 2019 Nonaccrual Loans and leases past due over 90 days still accruing Troubled Debt Restructurings Commercial $ 102 $ - $ 23 Commercial real estate 528 - 287 Agricultural real estate 215 - - Agriculture - - - Consumer - - - Residential: 1 – 4 family 258 519 356 Total $ 1,103 $ 519 $ 666 December 31, 2018 Commercial $ 121 $ - $ 24 Commercial real estate 754 - 228 Agricultural real estate 216 - - Agriculture - - - Consumer - - - Residential: 1 – 4 family 354 161 372 Total $ 1,445 $ 161 $ 624 |
Financing Receivable, Past Due [Table Text Block] | (in thousands) June 30, 2019 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 $ 234 $ - $ - $ 234 $ 72,396 $ 72,630 Commercial real estate 1,592 - 39 1,631 325,226 326,857 Agriculture - 177 - 177 11,487 11,664 Agricultural real estate 95 - 241 336 31,846 32,182 Consumer - - - - 7,756 7,756 Residential real estate 1,937 - 567 2,504 119,001 121,505 Total $ 3,858 $ 177 $ 847 $ 4,882 $ 567,712 $ 572,594 December 31, 2018 Commercial $ 482 $ - $ - $ 482 $ 68,503 $ 68,985 Commercial real estate 580 - 155 735 322,032 322,767 Agriculture - - - - 11,645 11,645 Agricultural real estate 7 - 241 248 31,431 31,679 Consumer 4 - - 4 6,692 6,696 Residential real estate 2,471 371 278 3,120 116,722 119,842 Total $ 3,544 $ 371 $ 674 $ 4,589 $ 557,025 $ 561,614 |
Financing Receivable Credit Quality Indicators [Table Text Block] | (in thousands) June 30, 2019 Pass Special Mention Substandard Doubtful Not rated Commercial $ 81,015 $ 1,900 $ 1,379 $ - $ - Commercial and multi-family real estate 350,153 6,604 2,243 - 39 Residential 1 - 4 family 9,869 - - - 111,636 Consumer - - - - 7,756 Total $ 441,037 $ 8,504 $ 3,622 $ - $ 119,431 December 31, 2018 Commercial $ 79,179 $ - $ 1,451 $ - $ - Commercial and multi-family real estate 346,580 4,755 3,111 - - Residential 1 - 4 family 10,461 - - - 109,381 Consumer - - - - 6,696 Total $ 436,220 $ 4,755 $ 4,562 $ - $ 116,077 |
Schedule of the Performance of the Loan Portfolio [Table Text Block] | (in thousands) June 30, 2019 Commercial and multi-family real estate Residential 1-4 family Consumer Performing $ 23 $ 111,070 $ 7,756 Nonperforming 16 566 - Total $ 39 $ 111,636 $ 7,756 December 31, 2018 Performing $ - $ 109,103 $ 6,696 Nonperforming - 278 - Total $ - $ 109,381 $ 6,696 |
Schedule of Loans Acquired in Acquisition [Table Text Block] | The Ohio State Bank (in thousands) Contractual Principal Accretable Carrying Receivable Difference Amount Purchased Performing Loans and Leases Balance at December 31, 2018 $ 19,043 $ (658 ) $ 18,385 Change due to payments received (2,660 ) 148 (2,512 ) Transfer to foreclosed real estate - - - Change due to loan charge-off - - - Balance at June 30, 2019 $ 16,383 $ (510 ) $ 15,873 Purchased Impaired Loans and Leases Balance at December 31, 2018 $ 196 $ (163 ) $ 33 Change due to payments received (26 ) 25 (1 ) Transfer to foreclosed real estate - - - Change due to loan charge-off - - - Balance at June 30, 2019 $ 170 $ (138 ) $ 32 Benchmark Bank (in thousands) Contractual Principal Accretable Carrying Receivable Difference Amount Purchased Performing Loans and Leases Balance at December 31, 2018 $ 74,837 $ (1,553 ) $ 73,284 Change due to payments received (7,771 ) 155 (7,616 ) Transfer to foreclosed real estate - - - Change due to loan charge-off - - - Balance at June 30, 2019 $ 67,066 $ (1,398 ) $ 65,668 Purchased Impaired Loans and Leases Balance at December 31, 2018 $ 516 $ (253 ) $ 263 Change due to payments received (139 ) 61 (78 ) Transfer to foreclosed real estate - - - Change due to loan charge-off - - - Balance at June 30, 2019 $ 377 $ (192 ) $ 185 |
Note 5 - Other Borrowings (Tabl
Note 5 - Other Borrowings (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | (in thousands) June 30, December 31, 2019 2018 Federal Home Loan Bank borrowings: Secured note, with interest at 2.55%, due March, 2019 $ - $ 1,281 Secured note, with interest at 1.72%, due September, 2020 6,000 6,000 Secured note, with interest at 2.90%, due June, 2021 8,000 8,000 Secured note, with variable interest, at 2.72% at June 30, 2019 and 2.99% at December 31, 2018, due September, 2021 7,000 7,000 Secured note, with interest at 1.86%, due September, 2021 6,000 6,000 Secured note, with interest at 2.94%, due December, 2021 8,000 8,000 Secured note, with interest at 2.98%, due June, 2022 9,000 9,000 Secured note, with interest at 1.97%, due September, 2022 6,000 6,000 Zions Bank: Secured note, with interest at 2.64%, due January, 2019 - 2,917 United Bankers Bank Note payable, with interest at 4.875% and $250,000 principal payments payable quarterly commencing December 1, 2018, with any remaining unpaid principal, due September 1, 2022. All Union Bank stock is held as collateral. 9,250 9,750 Secured note, with interest at 3.00%, due January, 2019 - 1,495 Total other borrowings $ 59,250 $ 65,443 |
Note 7 - Fair Value Measureme_2
Note 7 - Fair Value Measurements (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | (in thousands) June 30, December 31, 2019 2018 Mortgage Servicing Rights Balance at beginning of period $ 1,313 $ 1,270 Gains or losses, including realized and unrealized: Purchases, issuances, and settlements 53 164 Disposals - amortization based on loan payments and payoffs (77 ) (147 ) Changes in fair value (282 ) 26 Balance at end of period $ 1,007 $ 1,313 |
Note 8 - Fair Value of Financ_2
Note 8 - Fair Value of Financial Instruments (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Fair Value, by Balance Sheet Grouping [Table Text Block] | (in thousands) June 30, 2019 December 31, 2018 Carrying amount Estimated value Carrying amount Estimated value Input Level FINANCIAL ASSETS Cash and cash equivalents $ 20,343 $ 20,343 $ 16,475 $ 16,475 1 Securities, including FHLB stock 179,968 179,968 172,656 172,656 2,3 Loans held for sale 10,003 10,003 7,705 7,705 3 Net loans and leases 568,730 567,759 558,087 554,223 3 Mortgage servicing rights 1,007 1,007 1,313 1,313 3 Hedging assets 1,087 1,087 492 492 3 Total Financial Assets $ 781,138 $ 780,167 $ 756,728 $ 752,864 FINANCIAL LIABILITIES Deposits Maturity $ 195,422 $ 195,191 $ 180,675 $ 178,947 3 Non-maturity 493,736 493,736 485,561 485,561 1 Other borrowings 59,250 59,499 65,443 65,029 3 Junior subordinated deferrable interest debentures 12,891 8,819 12,874 8,318 3 Hedging liabilities 202 202 86 86 3 Total Financial Liabilities $ 761,501 $ 757,447 $ 744,639 $ 737,941 |
Note 9 - Stock Options (Tables)
Note 9 - Stock Options (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | June 30, June 30, 2019 2018 Outstanding, beginning of period 93,069 63,503 Granted 33,853 - Exercised - - Forfeited - (1,701 ) Outstanding, end of period 126,922 61,802 Weighted average exercise price at end of period $ 21.81 $ 20.42 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | 2019 2018 2017 2016 Weighted-average fair value of options granted $ 7.77 $ 7.87 $ 7.35 $ 6.27 Average dividend yield 2.26 % 2.18 % 2.23 % 2.31 % Expected volatility 40.00 % 40.00 % 40.00 % 40.00 % Rick-free interest rate 1.93 % 2.81 % 2.06 % 1.58 % Expected term (years) 7 7 7 7 |
Note 2 - New Accounting Prono_2
Note 2 - New Accounting Pronouncements (Details Textual) - Accounting Standards Update 2016-02 [Member] | Jan. 01, 2019USD ($) |
Other Assets [Member] | |
Operating Lease, Right-of-Use Asset | $ 2,168,000 |
Other Liabilities [Member] | |
Operating Lease, Liability, Total | $ 2,168,000 |
Note 3 - Securities - Amortized
Note 3 - Securities - Amortized Cost and Fair Value of Securities (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Amortized cost | $ 172,189 | $ 169,587 |
Fair value | 174,666 | 167,354 |
US States and Political Subdivisions Debt Securities [Member] | ||
Amortized cost | 52,079 | 59,585 |
Fair value | 53,908 | 59,466 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Amortized cost | 119,108 | 109,000 |
Fair value | 119,770 | 106,924 |
Other Debt Obligations [Member] | ||
Amortized cost | 1,002 | 1,002 |
Fair value | $ 988 | $ 964 |
Note 3 - Securities - Unrealize
Note 3 - Securities - Unrealized Gain (Loss) on Securities (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Available-for-sale securities, gross unrealized gains | $ 2,817 | $ 516 |
Available-for-sale securities, gross unrealized losses | 340 | 2,749 |
US States and Political Subdivisions Debt Securities [Member] | ||
Available-for-sale securities, gross unrealized gains | 1,830 | 354 |
Available-for-sale securities, gross unrealized losses | 1 | 473 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Available-for-sale securities, gross unrealized gains | 987 | 162 |
Available-for-sale securities, gross unrealized losses | 325 | 2,238 |
Other Debt Obligations [Member] | ||
Available-for-sale securities, gross unrealized gains | ||
Available-for-sale securities, gross unrealized losses | $ 14 | $ 38 |
Note 4 - Loans and Leases (Deta
Note 4 - Loans and Leases (Details Textual) | 6 Months Ended | |
Jun. 30, 2019USD ($) | Jun. 30, 2018USD ($) | |
Impaired Financing Receivable, Average Recorded Investment, Total | $ 1,821,000 | $ 0 |
Impaired Financing Receivable, Related Allowance | 392,000 | 0 |
Impaired Financing Receivable, Interest Income, Accrual Method, Total | $ 139,000 | 0 |
Financing Receivable, Modifications, Number of Contracts | 2 | |
Provision for Loan and Lease Losses, Total | $ 250,000 | 200,000 |
Ohio State Bancshares Inc [Member] | ||
Provision for Loan and Lease Losses, Total | $ 0 | $ 0 |
Note 4 - Loans and Leases - Act
Note 4 - Loans and Leases - Activity in the Allowance for Loan Losses (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Allowance for loan and lease losses beginning balance | $ 3,527 | $ 2,835 |
Provision charged to expenses | 250 | 200 |
Losses charged off | (29) | (94) |
Recoveries | 116 | 234 |
Allowance for loan and lease losses ending balance | 3,864 | 3,175 |
Commercial and Agriculture Portfolio Segment [Member] | ||
Allowance for loan and lease losses beginning balance | 534 | 501 |
Provision charged to expenses | 315 | 43 |
Losses charged off | (19) | |
Recoveries | 8 | 33 |
Allowance for loan and lease losses ending balance | 857 | 558 |
Commercial and Agricultural Real Estate Portfolio Segment [Member] | ||
Allowance for loan and lease losses beginning balance | 2,355 | 1,746 |
Provision charged to expenses | (98) | 94 |
Losses charged off | (17) | |
Recoveries | 94 | 200 |
Allowance for loan and lease losses ending balance | 2,351 | 2,023 |
Residential 1 - 4 Family Real Estate [Member] | ||
Allowance for loan and lease losses beginning balance | 576 | 545 |
Provision charged to expenses | 28 | 48 |
Losses charged off | (25) | (52) |
Recoveries | 14 | |
Allowance for loan and lease losses ending balance | 593 | 541 |
Consumer Portfolio Segment [Member] | ||
Allowance for loan and lease losses beginning balance | 62 | 43 |
Provision charged to expenses | 5 | 15 |
Losses charged off | (4) | (6) |
Recoveries | 1 | |
Allowance for loan and lease losses ending balance | $ 63 | $ 53 |
Note 4 - Loans and Leases - A_2
Note 4 - Loans and Leases - Activity in the Allowance for Loan Losses by Portfolio Segment (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Attributable to loans and leases individually evaluated for impairment | $ 392 | $ 128 |
Collectively evaluated for impairment | 3,472 | 3,399 |
Total allowance for loan and lease losses | 3,864 | 3,527 |
Individually evaluated for impairment | 2,848 | 1,331 |
Collectively evaluated for impairment | 569,529 | 559,987 |
Loans receivable | 572,594 | 561,614 |
Financial Asset Acquired with Credit Deterioration [Member] | ||
Acquired with deteriorated credit quality | 217 | 296 |
Commercial and Agriculture Portfolio Segment [Member] | ||
Attributable to loans and leases individually evaluated for impairment | 355 | 63 |
Collectively evaluated for impairment | 502 | 471 |
Total allowance for loan and lease losses | 857 | 534 |
Individually evaluated for impairment | 1,382 | 361 |
Collectively evaluated for impairment | 82,912 | 80,269 |
Loans receivable | 84,294 | 80,630 |
Commercial and Agriculture Portfolio Segment [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||
Acquired with deteriorated credit quality | ||
Commercial and Agricultural Real Estate Portfolio Segment [Member] | ||
Attributable to loans and leases individually evaluated for impairment | 37 | 65 |
Collectively evaluated for impairment | 2,314 | 2,290 |
Total allowance for loan and lease losses | 2,351 | 2,355 |
Individually evaluated for impairment | 1,466 | 970 |
Collectively evaluated for impairment | 357,415 | 353,250 |
Loans receivable | 359,039 | 354,446 |
Commercial and Agricultural Real Estate Portfolio Segment [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||
Acquired with deteriorated credit quality | 158 | 226 |
Residential 1 - 4 Family Real Estate [Member] | ||
Attributable to loans and leases individually evaluated for impairment | ||
Collectively evaluated for impairment | 593 | 576 |
Total allowance for loan and lease losses | 593 | 576 |
Individually evaluated for impairment | ||
Acquired with deteriorated credit quality | 111,636 | 109,381 |
Collectively evaluated for impairment | 121,446 | 119,772 |
Loans receivable | 121,505 | 119,842 |
Residential 1 - 4 Family Real Estate [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||
Acquired with deteriorated credit quality | 59 | 70 |
Consumer Portfolio Segment [Member] | ||
Attributable to loans and leases individually evaluated for impairment | ||
Collectively evaluated for impairment | 63 | 62 |
Total allowance for loan and lease losses | 63 | 62 |
Individually evaluated for impairment | ||
Acquired with deteriorated credit quality | 7,756 | 6,696 |
Collectively evaluated for impairment | 7,756 | 6,696 |
Loans receivable | 7,756 | 6,696 |
Consumer Portfolio Segment [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||
Acquired with deteriorated credit quality |
Note 4 - Loans and Leases - Sum
Note 4 - Loans and Leases - Summary of Nonaccrual Loans and Leases (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Recorded investment, nonaccrual | $ 1,103 | $ 1,445 |
Loans and leases past due over 90 days still accruing | 519 | 161 |
Troubled debt restructurings | 666 | 624 |
Commercial Portfolio Segment [Member] | ||
Recorded investment, nonaccrual | 102 | 121 |
Loans and leases past due over 90 days still accruing | ||
Troubled debt restructurings | 23 | 24 |
Commercial Real Estate Portfolio Segment [Member] | ||
Recorded investment, nonaccrual | 528 | 754 |
Loans and leases past due over 90 days still accruing | ||
Troubled debt restructurings | 287 | 228 |
Agricultural Real Estate [Member] | ||
Recorded investment, nonaccrual | 215 | |
Loans and leases past due over 90 days still accruing | ||
Troubled debt restructurings | ||
Agriculture [Member] | ||
Recorded investment, nonaccrual | ||
Loans and leases past due over 90 days still accruing | ||
Troubled debt restructurings | ||
Consumer Portfolio Segment [Member] | ||
Recorded investment, nonaccrual | ||
Loans and leases past due over 90 days still accruing | ||
Troubled debt restructurings | ||
Residential 1 - 4 Family Real Estate [Member] | ||
Recorded investment, nonaccrual | 258 | 354 |
Loans and leases past due over 90 days still accruing | 519 | 161 |
Troubled debt restructurings | $ 356 | 372 |
Residential Home Equity [Member] | ||
Recorded investment, nonaccrual | 216 | |
Loans and leases past due over 90 days still accruing | ||
Troubled debt restructurings |
Note 4 - Loans and Leases - Agi
Note 4 - Loans and Leases - Aging of the Recorded Investment in Past Due Loans (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Past due | $ 4,882 | $ 4,589 |
Loans and leases not past due | 567,712 | 557,025 |
Total loans and leases balance | 572,594 | 561,614 |
Commercial Portfolio Segment [Member] | ||
Past due | 234 | 482 |
Loans and leases not past due | 72,396 | 68,503 |
Total loans and leases balance | 72,630 | 68,985 |
Commercial Real Estate Portfolio Segment [Member] | ||
Past due | 1,631 | 735 |
Loans and leases not past due | 325,226 | 322,032 |
Total loans and leases balance | 326,857 | 322,767 |
Agriculture [Member] | ||
Past due | 177 | |
Loans and leases not past due | 11,487 | 11,645 |
Total loans and leases balance | 11,664 | 11,645 |
Agriculture [Member] | Real Estate Loan [Member] | ||
Past due | 336 | 248 |
Loans and leases not past due | 31,846 | 31,431 |
Total loans and leases balance | 32,182 | 31,679 |
Consumer Portfolio Segment [Member] | ||
Past due | 4 | |
Loans and leases not past due | 7,756 | 6,692 |
Total loans and leases balance | 7,756 | 6,696 |
Residential 1 - 4 Family Real Estate [Member] | ||
Past due | 2,504 | 3,120 |
Loans and leases not past due | 119,001 | 116,722 |
Total loans and leases balance | 121,505 | 119,842 |
Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due | 3,858 | 3,544 |
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial Portfolio Segment [Member] | ||
Past due | 234 | 482 |
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Past due | 1,592 | 580 |
Financial Asset, 30 to 59 Days Past Due [Member] | Agriculture [Member] | ||
Past due | ||
Financial Asset, 30 to 59 Days Past Due [Member] | Agriculture [Member] | Real Estate Loan [Member] | ||
Past due | 95 | 7 |
Financial Asset, 30 to 59 Days Past Due [Member] | Consumer Portfolio Segment [Member] | ||
Past due | 4 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Residential 1 - 4 Family Real Estate [Member] | ||
Past due | 1,937 | 2,471 |
Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due | 177 | 371 |
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial Portfolio Segment [Member] | ||
Past due | ||
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Past due | ||
Financial Asset, 60 to 89 Days Past Due [Member] | Agriculture [Member] | ||
Past due | 177 | |
Financial Asset, 60 to 89 Days Past Due [Member] | Agriculture [Member] | Real Estate Loan [Member] | ||
Past due | ||
Financial Asset, 60 to 89 Days Past Due [Member] | Consumer Portfolio Segment [Member] | ||
Past due | ||
Financial Asset, 60 to 89 Days Past Due [Member] | Residential 1 - 4 Family Real Estate [Member] | ||
Past due | 371 | |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due | 847 | 674 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial Portfolio Segment [Member] | ||
Past due | ||
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Past due | 39 | 155 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Agriculture [Member] | ||
Past due | ||
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Agriculture [Member] | Real Estate Loan [Member] | ||
Past due | 241 | 241 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Consumer Portfolio Segment [Member] | ||
Past due | ||
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Residential 1 - 4 Family Real Estate [Member] | ||
Past due | $ 567 | $ 278 |
Note 4 - Loans and Leases - Loa
Note 4 - Loans and Leases - Loans by Credit Quality Indicators (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Loans receivable | $ 572,594 | $ 561,614 |
Pass [Member] | ||
Loans receivable | 441,037 | 436,220 |
Special Mention [Member] | ||
Loans receivable | 8,504 | 4,755 |
Substandard [Member] | ||
Loans receivable | 3,622 | 4,562 |
Doubtful [Member] | ||
Loans receivable | ||
Not Rated [Member] | ||
Loans receivable | 119,431 | 116,077 |
Commercial Portfolio Segment [Member] | ||
Loans receivable | 72,630 | 68,985 |
Commercial Portfolio Segment [Member] | Pass [Member] | ||
Loans receivable | 81,015 | 79,179 |
Commercial Portfolio Segment [Member] | Special Mention [Member] | ||
Loans receivable | 1,900 | |
Commercial Portfolio Segment [Member] | Substandard [Member] | ||
Loans receivable | 1,379 | 1,451 |
Commercial Portfolio Segment [Member] | Doubtful [Member] | ||
Loans receivable | ||
Commercial Portfolio Segment [Member] | Not Rated [Member] | ||
Loans receivable | ||
Commercial and Multi-Family Real Estate [Member] | Pass [Member] | ||
Loans receivable | 350,153 | 346,580 |
Commercial and Multi-Family Real Estate [Member] | Special Mention [Member] | ||
Loans receivable | 6,604 | 4,755 |
Commercial and Multi-Family Real Estate [Member] | Substandard [Member] | ||
Loans receivable | 2,243 | 3,111 |
Commercial and Multi-Family Real Estate [Member] | Doubtful [Member] | ||
Loans receivable | ||
Commercial and Multi-Family Real Estate [Member] | Not Rated [Member] | ||
Loans receivable | 39 | |
Residential 1 - 4 Family Real Estate [Member] | ||
Loans receivable | 121,505 | 119,842 |
Residential 1 - 4 Family Real Estate [Member] | Pass [Member] | ||
Loans receivable | 9,869 | 10,461 |
Residential 1 - 4 Family Real Estate [Member] | Special Mention [Member] | ||
Loans receivable | ||
Residential 1 - 4 Family Real Estate [Member] | Substandard [Member] | ||
Loans receivable | ||
Residential 1 - 4 Family Real Estate [Member] | Doubtful [Member] | ||
Loans receivable | ||
Residential 1 - 4 Family Real Estate [Member] | Not Rated [Member] | ||
Loans receivable | 111,636 | 109,381 |
Consumer Portfolio Segment [Member] | ||
Loans receivable | 7,756 | 6,696 |
Consumer Portfolio Segment [Member] | Pass [Member] | ||
Loans receivable | ||
Consumer Portfolio Segment [Member] | Special Mention [Member] | ||
Loans receivable | ||
Consumer Portfolio Segment [Member] | Substandard [Member] | ||
Loans receivable | ||
Consumer Portfolio Segment [Member] | Doubtful [Member] | ||
Loans receivable | ||
Consumer Portfolio Segment [Member] | Not Rated [Member] | ||
Loans receivable | $ 7,756 | $ 6,696 |
Note 4 - Loans and Leases - Per
Note 4 - Loans and Leases - Performance of Loan Portfolio (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Commercial and Multi-Family Real Estate [Member] | ||
Loans receivable | $ 39 | |
Residential 1 - 4 Family Real Estate [Member] | ||
Loans receivable | 111,636 | 109,381 |
Consumer Portfolio Segment [Member] | ||
Loans receivable | 7,756 | 6,696 |
Performing Financial Instruments [Member] | Commercial and Multi-Family Real Estate [Member] | ||
Loans receivable | 23 | |
Performing Financial Instruments [Member] | Residential 1 - 4 Family Real Estate [Member] | ||
Loans receivable | 111,070 | 109,103 |
Performing Financial Instruments [Member] | Consumer Portfolio Segment [Member] | ||
Loans receivable | 7,756 | 6,696 |
Nonperforming Financial Instruments [Member] | Commercial and Multi-Family Real Estate [Member] | ||
Loans receivable | 16 | |
Nonperforming Financial Instruments [Member] | Residential 1 - 4 Family Real Estate [Member] | ||
Loans receivable | 566 | 278 |
Nonperforming Financial Instruments [Member] | Consumer Portfolio Segment [Member] | ||
Loans receivable |
Note 4 - Loans and Leases - Sch
Note 4 - Loans and Leases - Schedule of Loans Acquired in Acquisition (Details) $ in Thousands | 6 Months Ended |
Jun. 30, 2019USD ($) | |
Ohio State Bancshares Inc [Member] | Performing Financial Instruments [Member] | |
Contractual principal receivable, beginning balance | $ 19,043 |
Contractual principal receivable, change due to payments received | (2,660) |
Contractual principal receivable, ending balance | 16,383 |
Accretable difference, beginning balance | (658) |
Accretable difference, change due to payments received | 148 |
Accretable difference, ending balance | (510) |
Carrying amount, beginning balance | 18,385 |
Carrying amount, change due to payments received | (2,512) |
Carrying amount, ending balance | 15,873 |
Ohio State Bancshares Inc [Member] | Nonperforming Financial Instruments [Member] | |
Contractual principal receivable, beginning balance | 196 |
Contractual principal receivable, change due to payments received | (26) |
Contractual principal receivable, ending balance | 170 |
Accretable difference, beginning balance | (163) |
Accretable difference, change due to payments received | 25 |
Accretable difference, ending balance | (138) |
Carrying amount, beginning balance | 33 |
Carrying amount, change due to payments received | (1) |
Carrying amount, ending balance | 32 |
Benchmark Bancorp, Inc. [Member] | Performing Financial Instruments [Member] | |
Contractual principal receivable, beginning balance | 74,837 |
Contractual principal receivable, change due to payments received | (7,771) |
Contractual principal receivable, ending balance | 67,066 |
Accretable difference, beginning balance | (1,553) |
Accretable difference, change due to payments received | 155 |
Accretable difference, ending balance | (1,398) |
Carrying amount, beginning balance | 73,284 |
Carrying amount, change due to payments received | (7,616) |
Carrying amount, ending balance | 65,668 |
Benchmark Bancorp, Inc. [Member] | Nonperforming Financial Instruments [Member] | |
Contractual principal receivable, beginning balance | 516 |
Contractual principal receivable, change due to payments received | (139) |
Contractual principal receivable, ending balance | 377 |
Accretable difference, beginning balance | (253) |
Accretable difference, change due to payments received | 61 |
Accretable difference, ending balance | (192) |
Carrying amount, beginning balance | 263 |
Carrying amount, change due to payments received | (78) |
Carrying amount, ending balance | $ 185 |
Note 5 - Other Borrowings (Deta
Note 5 - Other Borrowings (Details Textual) - USD ($) | Jun. 30, 2019 | Dec. 31, 2018 |
Loans Pledged as Collateral | $ 138,121,000 | $ 137,744,000 |
Note 5 - Other Borrowings - Com
Note 5 - Other Borrowings - Composition of Other Borrowings (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Other borrowings | $ 59,250 | $ 65,443 |
Other Borrowings | 59,250 | 65,443 |
Secured Notes with Interest at 2.55 Percent [Member] | ||
Federal Home Loan Bank | 1,281 | |
Secured Notes With Interest At 1.72% [Member] | ||
Federal Home Loan Bank | 6,000 | 6,000 |
Secured Notes With Interest At 2.90% [Member] | ||
Federal Home Loan Bank | 8,000 | 8,000 |
Secured Note With Variable Interest [Member] | ||
Federal Home Loan Bank | 7,000 | 7,000 |
Secured Notes With Interest At 1.86% [Member] | ||
Federal Home Loan Bank | 6,000 | 6,000 |
Secured Notes With Interest At 2.94% [Member] | ||
Federal Home Loan Bank | 8,000 | 8,000 |
Secured Notes With Interest At 2.98% [Member] | ||
Federal Home Loan Bank | 9,000 | 9,000 |
Secured Notes With Interest At 1.97% [Member] | ||
Federal Home Loan Bank | 6,000 | 6,000 |
Secured Notes from Zions Bank with Interest at 2.64% [Member] | ||
Federal Home Loan Bank | 2,917 | |
Note Payable With Interest At 4.875% [Member] | ||
Other borrowings | 9,250 | 9,750 |
Other Borrowings | 9,250 | 9,750 |
Secured Notes With Interest At 3.00% [Member] | ||
Federal Home Loan Bank | $ 1,495 |
Note 5 - Other Borrowings - C_2
Note 5 - Other Borrowings - Composition of Other Borrowings (Details) (Parentheticals) - USD ($) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2019 | Dec. 31, 2018 | |
Secured Notes with Interest at 2.55 Percent [Member] | ||
Debt instrument, interest rate, stated percentage | 2.55% | 2.55% |
Debt instrument, maturity date | Mar. 1, 2019 | Mar. 1, 2019 |
Secured Notes With Interest At 1.72% [Member] | ||
Debt instrument, interest rate, stated percentage | 1.72% | 1.72% |
Debt instrument, maturity date | Sep. 1, 2020 | Sep. 1, 2020 |
Secured Notes With Interest At 2.90% [Member] | ||
Debt instrument, interest rate, stated percentage | 2.90% | 2.90% |
Debt instrument, maturity date | Jun. 1, 2021 | Jun. 1, 2021 |
Secured Note With Variable Interest [Member] | ||
Debt instrument, interest rate, stated percentage | 2.72% | 2.99% |
Debt instrument, maturity date | Sep. 1, 2021 | Sep. 1, 2021 |
Secured Notes With Interest At 1.86% [Member] | ||
Debt instrument, interest rate, stated percentage | 1.86% | 1.86% |
Debt instrument, maturity date | Sep. 1, 2020 | Sep. 1, 2020 |
Secured Notes With Interest At 2.94% [Member] | ||
Debt instrument, interest rate, stated percentage | 2.94% | 2.94% |
Debt instrument, maturity date | Dec. 1, 2021 | Dec. 1, 2021 |
Secured Notes With Interest At 2.98% [Member] | ||
Debt instrument, interest rate, stated percentage | 2.98% | 2.98% |
Debt instrument, maturity date | Jun. 1, 2022 | Jun. 1, 2022 |
Secured Notes With Interest At 1.97% [Member] | ||
Debt instrument, interest rate, stated percentage | 1.97% | 1.97% |
Debt instrument, maturity date | Sep. 1, 2022 | Sep. 1, 2022 |
Secured Notes from Zions Bank with Interest at 2.64% [Member] | ||
Debt instrument, interest rate, stated percentage | 2.64% | 2.64% |
Debt instrument, maturity date | Jan. 1, 2019 | Jan. 1, 2019 |
Note Payable With Interest At 4.875% [Member] | ||
Debt instrument, interest rate, stated percentage | 4.875% | 4.875% |
Debt instrument, maturity date | Sep. 1, 2022 | Sep. 1, 2022 |
Periodic principal payment | $ 250,000 | $ 250,000 |
Secured Notes With Interest At 3.00% [Member] | ||
Debt instrument, interest rate, stated percentage | 3.00% | 3.00% |
Debt instrument, maturity date | Jan. 1, 2019 | Jan. 1, 2019 |
Note 6 - Junior Subordinated _2
Note 6 - Junior Subordinated Deferrable Interest Debentures (Details Textual) | 3 Months Ended | 6 Months Ended | 12 Months Ended | |
Mar. 31, 2019 | Jun. 30, 2019USD ($) | Jun. 30, 2018USD ($) | Dec. 31, 2018USD ($) | |
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, Total | $ 12,891,000 | $ 12,874,000 | ||
Subordinated Borrowing, Interest Rate | 5.48% | 5.97% | ||
Subordinated Debenture, Default, Interest Payment Deferment Quarterly Periods | 20 | |||
Other Long-term Debt, Total | $ 2,591,000 | $ 2,574,000 | ||
Interest Expense, Debt, Total | $ 495,000 | $ 456,000 | ||
London Interbank Offered Rate (LIBOR) [Member] | ||||
Debt Instrument, Basis Spread on Variable Rate | 3.15% | |||
Trust Preferred Securities [Member] | ||||
Junior Subordinated Debenture Owed to Unconsolidated Subsidiary Trust, Total | $ 10,300,000 | |||
Trust Preferred Securities [Member] | Ohio State Bancshares Inc [Member] | ||||
Subordinated Borrowing, Interest Rate | 5.43% | 5.33% | ||
Business Combination, Consideration Transferred, Liabilities Incurred | $ 3,093,000 | |||
Trust Preferred Securities [Member] | London Interbank Offered Rate (LIBOR) [Member] | Ohio State Bancshares Inc [Member] | ||||
Debt Instrument, Basis Spread on Variable Rate | 2.85% | |||
Guaranteed Trust Preferred Securities [Member] | Ohio State Bancshares Inc [Member] | ||||
Business Combination, Consideration Transferred, Liabilities Incurred | 3,000,000 | |||
Trusted Preferred Securities Secured by an Investment [Member] | Ohio State Bancshares Inc [Member] | ||||
Business Combination, Consideration Transferred, Liabilities Incurred | $ 93,000 |
Note 7 - Fair Value Measureme_3
Note 7 - Fair Value Measurements (Details Textual) | Jun. 30, 2019USD ($) | Dec. 31, 2018USD ($) |
Financial Liabilities Fair Value Disclosure, Total | $ 757,447,000 | $ 737,941,000 |
Assets, Fair Value Disclosure | $ 780,167,000 | 752,864,000 |
Measurement Input, Appraised Value [Member] | Minimum [Member] | ||
Impaired Loans, Measurement Input | 0.15 | |
Other Real Estate Owned, Measurement Input | 0.1 | |
Measurement Input, Appraised Value [Member] | Maximum [Member] | ||
Impaired Loans, Measurement Input | 0.35 | |
Other Real Estate Owned, Measurement Input | 0.3 | |
Measurement Input, Cost to Sell [Member] | Minimum [Member] | ||
Impaired Loans, Measurement Input | 0.1 | |
Other Real Estate Owned, Measurement Input | 0.1 | |
Measurement Input, Cost to Sell [Member] | Maximum [Member] | ||
Impaired Loans, Measurement Input | 0.2 | |
Other Real Estate Owned, Measurement Input | 0.2 | |
Measurement Input, Discount Rate [Member] | Minimum [Member] | ||
Mortgage Servicing Rights, Measurement Input | 0.11 | |
Measurement Input, Discount Rate [Member] | Maximum [Member] | ||
Mortgage Servicing Rights, Measurement Input | 0.13 | |
Fair Value, Inputs, Level 3 [Member] | ||
Impaired Financing Receivable, Recorded Investment, Total | $ 2,848,000 | 1,331,000 |
Fair Value, Recurring [Member] | ||
Financial Liabilities Fair Value Disclosure, Total | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Mortgage Servicing Rights [Member] | ||
Assets, Fair Value Disclosure | $ 1,007,000 | $ 1,313,000 |
Note 7 - Fair Value Measureme_4
Note 7 - Fair Value Measurements - Reconciliation and Income Statement Classification of Gains and Losses (Details) - Fair Value, Inputs, Level 3 [Member] - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2019 | Dec. 31, 2018 | |
Balance at beginning of period | $ 1,313 | $ 1,270 |
Purchases, issuances, and settlements | 53 | 164 |
Disposals - amortization based on loan payments and payoffs | (77) | (147) |
Changes in fair value | (282) | 26 |
Balance at end of period | $ 1,007 | $ 1,313 |
Note 8 - Fair Value of Financ_3
Note 8 - Fair Value of Financial Instruments (Details Textual) - USD ($) | Jun. 30, 2019 | Dec. 31, 2018 |
Commitments to Extend Credit [Member] | ||
Other Commitment, Total | $ 135,623,000 | $ 147,526,000 |
Note 8 - Fair Value of Financ_4
Note 8 - Fair Value of Financial Instruments - Carrying Amounts and Estimated Fair Values of Recognized Financial Instruments (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Securities, including FHLB stock | $ 179,968 | $ 172,656 | |
Total Financial Assets | 780,167 | 752,864 | |
Total Financial Liabilities | 757,447 | 737,941 | |
Fair Value, Inputs, Level 1 [Member] | |||
Cash and cash equivalents | 20,343 | 16,475 | |
Fair Value, Inputs, Level 1 [Member] | Non-Maturity Deposits [Member] | |||
Deposits | 493,736 | 485,561 | |
Fair Value, Inputs, Level 3 [Member] | |||
Loans held for sale | 10,003 | 7,705 | |
Net loans and leases | 567,759 | 554,223 | |
Mortgage servicing rights | 1,007 | 1,313 | $ 1,270 |
Hedging assets | 1,087 | 492 | |
Other borrowings | 59,499 | 65,029 | |
Junior subordinated deferrable interest debentures | 8,819 | 8,318 | |
Hedging liabilities | 202 | 86 | |
Fair Value, Inputs, Level 3 [Member] | Maturity Deposits [Member] | |||
Deposits | 195,191 | 178,947 | |
Reported Value Measurement [Member] | |||
Securities, including FHLB stock | 179,968 | 172,656 | |
Total Financial Assets | 781,138 | 756,728 | |
Total Financial Liabilities | 761,501 | 744,639 | |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Cash and cash equivalents | 20,343 | 16,475 | |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | Non-Maturity Deposits [Member] | |||
Deposits | 493,736 | 485,561 | |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Loans held for sale | 10,003 | 7,705 | |
Net loans and leases | 568,730 | 558,087 | |
Mortgage servicing rights | 1,007 | 1,313 | |
Hedging assets | 1,087 | 492 | |
Other borrowings | 59,250 | 65,443 | |
Junior subordinated deferrable interest debentures | 12,891 | 12,874 | |
Hedging liabilities | 202 | 86 | |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | Maturity Deposits [Member] | |||
Deposits | $ 195,422 | $ 180,675 |
Note 9 - Stock Options (Details
Note 9 - Stock Options (Details Textual) - USD ($) | Sep. 01, 2018 | Aug. 01, 2017 | Jan. 01, 2017 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2016 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | Dec. 31, 2017 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Ending Balance | $ 21.81 | $ 20.42 | $ 21.81 | $ 20.42 | ||||||
Stock Option Plan [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Ending Balance | $ 22.97 | $ 19.32 | $ 22.97 | $ 23.30 | $ 21.70 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares | 31,718 | 11,117 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | 5 years 255 days | |||||||||
Share-based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount | $ 246,000 | $ 209,000 | $ 209,000 | $ 263,000 | $ 263,000 | |||||
Share-based Payment Arrangement, Option [Member] | Stock Option Plan [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 250,000 | 250,000 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period | 33,352 | 33,853 | 31,267 | 30,151 | ||||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition | 3 years | 3 years | 3 years | 3 years | ||||||
Share-based Payment Arrangement, Expense, after Tax | $ 55,000 | $ 32,000 | $ 111,000 | $ 67,000 |
Note 9 - Stock Options - Summar
Note 9 - Stock Options - Summary of Activity for Stock Options (Details) - $ / shares | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Outstanding, beginning of period (in shares) | 93,069 | 63,503 |
Granted (in shares) | 33,853 | |
Exercised (in shares) | ||
Forfeited (in shares) | (1,701) | |
Outstanding, end of period (in shares) | 126,922 | 61,802 |
Weighted average exercise price at end of period (in dollars per share) | $ 21.81 | $ 20.42 |
Note 9 - Stock Options - Schedu
Note 9 - Stock Options - Schedule of Assumptions Used In Calculating the Fair Value of Options Granted (Details) - $ / shares | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Weighted-average fair value of options granted (in dollars per share) | $ 7.77 | $ 7.87 | $ 7.35 | $ 6.27 |
Average dividend yield | 2.26% | 2.18% | 2.23% | 2.31% |
Expected volatility | 40.00% | 40.00% | 40.00% | 40.00% |
Rick-free interest rate | 1.93% | 2.81% | 2.06% | 1.58% |
Expected term (Year) | 7 years | 7 years | 7 years | 7 years |
Note 10 - Subsequent Events (De
Note 10 - Subsequent Events (Details Textual) - Subsequent Event [Member] | Jul. 16, 2019$ / shares |
Dividends Payable, Amount Per Share | $ 0.13 |
Dividends Payable, Date Declared | Jul. 16, 2019 |
Dividends Payable, Date to be Paid | Sep. 16, 2019 |
Dividends Payable, Date of Record | Aug. 31, 2019 |