Document And Entity Information
Document And Entity Information | 3 Months Ended |
Mar. 31, 2020shares | |
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 Interactive Data Current | Yes |
Entity Common Stock, Shares Outstanding (in shares) | 3,270,399 |
Entity Shell Company | false |
Document Type | 10-Q |
Document Period End Date | Mar. 31, 2020 |
Document Fiscal Year Focus | 2020 |
Document Fiscal Period Focus | Q1 |
Amendment Flag | false |
Title of 12(b) Security | Common Stock, No Par Value |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
CASH AND CASH EQUIVALENTS | ||
Cash and due from banks | $ 11,485 | $ 9,167 |
Interest-bearing deposits in other banks | 33,287 | 17,245 |
Total cash and cash equivalents | 44,772 | 26,412 |
SECURITIES, available-for-sale | 187,700 | 183,611 |
FEDERAL HOME LOAN BANK STOCK, at cost | 5,598 | 5,302 |
LOANS HELD FOR SALE | 19,613 | 15,301 |
LOANS AND LEASES | 573,981 | 576,424 |
Less allowance for loan and lease losses | 4,687 | 4,131 |
Net loans and leases | 569,294 | 572,293 |
PREMISES AND EQUIPMENT, net | 18,638 | 18,789 |
GOODWILL | 28,616 | 28,616 |
CORE DEPOSIT INTANGIBLE ASSETS, net | 756 | 794 |
CASH SURRENDER VALUE OF LIFE INSURANCE | 18,709 | 18,613 |
OTHER ASSETS, including accrued interest receivable | 8,761 | 10,283 |
TOTAL ASSETS | 902,457 | 880,014 |
Deposits: | ||
Non-interest-bearing | 120,469 | 116,360 |
Interest-bearing | 604,667 | 590,774 |
Total deposits | 725,136 | 707,134 |
Other borrowings | 58,500 | 58,750 |
Junior subordinated deferrable interest debentures | 12,916 | 12,908 |
Other liabilities | 7,423 | 6,441 |
Total liabilities | 803,975 | 785,233 |
SHAREHOLDERS’ EQUITY | ||
Common stock, stated value $1.00, authorized 10,000,000 shares; issued 3,760,557 shares | 3,761 | 3,761 |
Surplus | 15,337 | 15,251 |
Retained earnings | 81,259 | 80,629 |
Accumulated other comprehensive income | 5,821 | 2,872 |
Treasury stock, at cost, 490,158 shares at March 31, 2020 and 492,462 shares at December 31, 2019 | (7,696) | (7,732) |
Total shareholders’ equity | 98,482 | 94,781 |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ 902,457 | $ 880,014 |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Mar. 31, 2020 | Dec. 31, 2019 |
Common stock, stated value (in dollars per share) | $ 1 | $ 1 |
Common stock, authorized (in shares) | 10,000,000 | 10,000,000 |
Common stock, issued (in shares) | 3,760,557 | 3,760,557 |
Treasury stock, shares (in shares) | 490,158 | 492,462 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | ||
INTEREST INCOME | |||
Loans and leases, including fees | $ 7,945 | $ 7,783 | |
Securities: | |||
Taxable | 612 | 662 | |
Tax-exempt | 498 | 413 | |
Other | 177 | 128 | |
Total interest income | 9,232 | 8,986 | |
INTEREST EXPENSE | |||
Deposits | 1,535 | 1,410 | |
Other borrowings | 573 | 641 | |
Total interest expense | 2,108 | 2,051 | |
Net interest income | 7,124 | 6,935 | |
PROVISION FOR LOAN AND LEASE LOSSES | 550 | 100 | |
Net interest income after provision for loan and lease losses | 6,574 | 6,835 | |
NON-INTEREST INCOME | |||
Gain on sale of loans | [1] | 2,583 | 1,438 |
Other non-interest income | 251 | 1,070 | |
Total non-interest income | 2,834 | 2,508 | |
NON-INTEREST EXPENSES | 8,210 | 7,222 | |
INCOME BEFORE INCOME TAXES | 1,198 | 2,121 | |
PROVISION FOR INCOME TAXES | 110 | 307 | |
NET INCOME | $ 1,088 | $ 1,814 | |
NET INCOME PER SHARE (basic and diluted) (in dollars per share) | $ 0.33 | $ 0.55 | |
Weighted average common shares outstanding (basic) (in shares) | 3,270,066 | 3,270,408 | |
Weighted average common shares outstanding (diluted) (in shares) | 3,270,066 | 3,277,717 | |
[1] | Not within the scope of ASC 606 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Net income | $ 1,088 | $ 1,814 |
OTHER COMPREHENSIVE INCOME | ||
Unrealized holding gains during period | 3,733 | 2,552 |
Reclassification adjustments for gains included in net income | ||
Other comprehensive income, before income taxes | 3,733 | 2,552 |
Income tax expense related to items of other comprehensive income | 784 | 536 |
Other comprehensive income | 2,949 | 2,016 |
COMPREHENSIVE INCOME | $ 4,037 | $ 3,830 |
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, 2018 | $ 3,761 | $ 14,960 | $ 71,670 | $ (1,764) | $ (7,683) | $ 80,944 |
Net income | 1,814 | 1,814 | ||||
Other comprehensive income | 2,016 | 2,016 | ||||
Shares issued from treasury in connection with the Corporation's Employee Stock Purchase Plan | 10 | 20 | 30 | |||
Stock option expenses | 55 | 55 | ||||
Cash dividends declared | (426) | (426) | ||||
BALANCE at Mar. 31, 2019 | 3,761 | 15,025 | 73,058 | 252 | (7,663) | 84,433 |
BALANCE at Dec. 31, 2019 | 3,761 | 15,251 | 80,629 | 2,872 | (7,732) | 94,781 |
Net income | 1,088 | 1,088 | ||||
Other comprehensive income | 2,949 | 2,949 | ||||
Shares issued from treasury in connection with the Corporation's Employee Stock Purchase Plan | 26 | 36 | 62 | |||
Stock option expenses | 60 | 60 | ||||
Cash dividends declared | (458) | (458) | ||||
BALANCE at Mar. 31, 2020 | $ 3,761 | $ 15,337 | $ 81,259 | $ 5,821 | $ (7,696) | $ 98,482 |
Consolidated Statements of Sh_2
Consolidated Statements of Shareholders' Equity (Unaudited) (Parentheticals) - $ / shares | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Stock issued during the period, shares, Employee Stock Purchase Plans (in shares) | 2,304 | 1,277 |
Cash dividends declared per share (in dollars per share) | $ 0.14 | $ 0.13 |
Condensed Consolidated Statem_2
Condensed Consolidated Statement of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
CASH FLOWS FROM OPERATING ACTIVITIES | $ (1,474) | $ (1,818) |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Proceeds from sales, calls and maturities of available-for-sale securities | 6,908 | 3,788 |
Purchases of available-for-sale securities | (7,494) | (3,575) |
Purchases of FHLB stock | (296) | |
Net increase in loans and leases | 3,385 | (4,222) |
Purchases of premises and equipment | (14) | (83) |
Net cash provided by (used in) investing activities | 2,489 | (4,092) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Net increase in deposits | 17,991 | 23,040 |
Repayments of other borrowings | (250) | (5,943) |
Proceeds from sale of treasury shares | 62 | 30 |
Cash dividends paid | (458) | (426) |
Net cash provided by financing activities | 17,345 | 16,701 |
NET INCREASE IN CASH AND CASH EQUIVALENTS | 18,360 | 10,791 |
CASH AND CASH EQUIVALENTS | ||
At beginning of period | 26,412 | 16,475 |
At end of period | 44,772 | 27,266 |
SUPPLEMENTAL CASH FLOW DISCLOSURES | ||
Interest | 2,153 | 2,012 |
Federal income taxes | ||
Non-cash investing activities: | ||
Change in net unrealized gain on available-for-sale securities | $ 3,733 | $ 2,552 |
Note 1 - Consolidated Financial
Note 1 - Consolidated Financial Statements | 3 Months Ended |
Mar. 31, 2020 | |
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 three March 31, 2020 not may December 31, 2020 December 31, 2019 10 December 31, 2019 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 | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Accounting Standards Update and Change in Accounting Principle [Text Block] | NOTE 2 In June 2016, 2016 13, 326 four 2016 13 not 2016 13 December 15, 2019. July 17, 2019, 2016 13. October 16, 2019, December 15, 2022. In January 2017, 2017 04, 350 2 December 15, 2019. 2017 04 January 1, 2020 not March 31, 2020 In August 2018, 2018 13, no 1 2 3 2018 13 December 15, 2019. 2018 13 January 1, 2020. not March 31, 2020 In April, 2019, 2019 04, 326, 815, 825, not In December, 2019, 2019 12, 740 740. 740 December 15, 2020. not may not In January, 2020, 2020 01, 321 323 815 321, 323, 815. 321 815 10 15 141 not 323 825. 815 10 15 141 December 15, 2020, not not In March 2020, 2020 03, not In March 2020, 2020 04, 848 March 12, 2020 December 31, 2022. not |
Note 3 - Securities
Note 3 - Securities | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | NOTE 3 The amortized cost, unrealized gains and losses, and fair value of available-for-sale securities as of March 31, 2020 December 31, 2019 (in thousands) March 31, 2020 Amortized cost Gross unrealized gains Gross unrealized losses Fair value Available-for-sale: Obligations of states and political subdivisions $ 72,019 $ 3,289 $ 44 $ 75,264 Mortgage-backed 107,289 4,117 - 111,406 Other 1,023 7 - 1,030 Total $ 180,331 $ 7,413 $ 44 $ 187,700 (in thousands) December 31, 2019 Amortized cost Gross unrealized gains Gross unrealized losses Fair value Available-for-sale: Obligations of states and political subdivisions $ 70,043 $ 2,593 $ 82 $ 72,554 Mortgage-backed 108,907 1,292 158 110,041 Other 1,025 - 9 1,016 Total $ 179,975 $ 3,885 $ 249 $ 183,611 |
Note 4 - Loans and Leases
Note 4 - Loans and Leases | 3 Months Ended |
Mar. 31, 2020 | |
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 three March 31, 2020 2019 (in thousands) Residential 1 – 4 family real estate Commercial and multi-family real estate Commercial Consumer Total Balance at December 31, 2019 $ 592 $ 2,536 $ 939 $ 64 $ 4,131 Provision charged to expenses 109 422 9 10 550 Losses charged off - - (4 ) (5 ) (9 ) Recoveries 3 3 9 - 15 Balance at March 31, 2020 $ 704 $ 2,961 $ 953 $ 69 $ 4,687 Balance at December 31, 2018 $ 576 $ 2,355 $ 534 $ 62 $ 3,527 Provision charged to expenses 33 59 5 3 100 Losses charged off (25 ) - - (3 ) (28 ) Recoveries 3 6 36 - 45 Balance at March 31, 2019 $ 587 $ 2,420 $ 575 $ 62 $ 3,644 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 March 31, 2020 December 31, 2019 (in thousands) March 31, 2020 Residential 1 – 4 family real estate Commercial and multi-family real estate Commercial Consumer Total Allowance for loan and lease losses: Attributable to loans and leases individually evaluated for impairment $ - $ 89 $ 311 $ - $ 400 Collectively evaluated for impairment 704 2,872 642 69 4,287 Total allowance for loan and lease losses $ 704 $ 2,961 $ 953 $ 69 $ 4,687 Loans and leases: Individually evaluated for impairment $ - $ 1,644 $ 1,276 $ - $ 2,920 Acquired with deteriorated credit quality 60 104 - 164 Collectively evaluated for impairment 120,266 371,598 71,057 7,976 570,897 Total ending loans and leases balance $ 120,326 $ 373,346 $ 72,333 $ 7,976 $ 573,981 December 31, 2019 Residential 1 – 4 family real estate Commercial and multi-family real estate Commercial Consumer Total Allowance for loan and lease losses: Attributable to loans and leases individually evaluated for impairment $ - $ 93 $ 342 $ - $ 435 Collectively evaluated for impairment 592 2,443 597 64 3,696 Total allowance for loan and lease losses $ 592 $ 2,536 $ 939 $ 64 $ 4,131 Loans and leases: Individually evaluated for impairment $ - $ 1,499 $ 1,279 $ - $ 2,778 Acquired with deteriorated credit quality 61 127 - - 188 Collectively evaluated for impairment 122,844 365,988 76,379 8,247 573,458 Total ending loans and leases balance $ 122,905 $ 367,614 $ 77,658 $ 8,247 $ 576,424 The average recorded investment in impaired loans and leases (excluding loans and leases acquired with deteriorated credit quality) for the three March 31, 2020 was $2,847,000 $1,307,000 three month period ended March 31, 2019. There $400 , 000 March 31, 2020 to $100,000 March 31, 2019 approximately $12,000 three March 31, 2020 $24,000 three March 31, 2019 The following table presents the recorded investment in nonaccrual loans and leases, loans and leases past due over 90 March 31, 2020 December 31, 2019 (in thousands) March 31, 2020 Nonaccrual Loans and leases past due over 90 days still accruing Accruing Troubled Debt Restructurings Residential 1-4 family real estate $ 503 $ 97 $ 218 Commercial and multi family real estate 1,294 - 600 Agricultural real estate 4 - - Commercial - - 771 Agriculture - - - Consumer - - - Total $ 1,801 $ 97 $ 1,589 December 31, 2019 Residential 1-4 family real estate $ 414 $ 138 $ 223 Commercial and multi family real estate 545 - 623 Agricultural real estate 4 - - Commercial - - 772 Agriculture - - - Consumer - - - Total $ 963 $ 138 $ 1,618 The following table presents the aging of the recorded investment in past due loans and leases as of March 31, 2020 December 31, 2019 (in thousands) March 31, 2020 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 Residential 1-4 family real estate $ 1,072 $ 473 $ 281 $ 1,826 $ 118,500 $ 120,326 Commercial and multi family real estate 245 30 606 881 334,309 335,190 Agricultural real estate 16 - - 16 38,140 38,156 Commercial 27 27 1 55 61,367 61,422 Agriculture 81 - - 81 10,830 10,911 Consumer 2 - - 2 7,974 7,976 Total $ 1,443 $ 530 $ 888 $ 2,861 $ 571,120 $ 573,981 December 31, 2019 Residential 1-4 family real estate $ 2,709 $ 99 $ 322 $ 3,130 $ 119,775 $ 122,905 Commercial and multi family real estate 177 302 15 494 332,161 332,655 Agricultural real estate - - - - 34,959 34,959 Commercial - 57 5 62 67,826 67,888 Agriculture - - - - 9,770 9,770 Consumer 2 - - 2 8,245 8,247 Total $ 2,888 $ 458 $ 342 $ 3,688 $ 572,736 $ 576,424 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 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 March 31, 2020 December 31, 2019 As of March 31, 2020 December 31, 2019 (in thousands) March 31, 2020 Pass Special Mention Substandard Doubtful Not rated Residential 1 - 4 family $ 8,512 $ - $ - $ - $ 111,814 Commercial and multi- family real estate 361,947 1,762 3,432 - 6,205 Commercial 69,807 863 1,662 - 1 Consumer 40 - - - 7,936 Total $ 440,306 $ 2,625 $ 5,094 $ - $ 125,956 December 31, 2019 Residential 1 - 4 family $ 9,219 $ - $ - $ - $ 113,686 Commercial and multi- family real estate 362,519 1,797 3,258 - 40 Commercial 75,559 410 1,688 - 1 Consumer 45 - - - 8,202 Total $ 447,342 $ 2,207 $ 4,946 $ - $ 121,929 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 March 31, 2020 December 31, 2019 (in thousands) March 31, 2020 Residential 1-4 family Commercial and multi-family real estate Commercial Consumer Total Performing $ 111,533 $ 6,190 $ - $ 7,936 $ 125,659 Nonperforming 281 15 1 - 297 Total $ 111,814 $ 6,205 $ 1 $ 7,936 $ 125,956 December 31, 2019 Performing $ 113,364 $ 24 $ - $ 8,202 $ 121,590 Nonperforming 322 16 1 - 339 Total $ 113,686 $ 40 $ 1 $ 8,202 $ 121,929 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 no three March 31, 2020 . 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, 2019 $ 13,047 $ (430 ) $ 12,617 Change due to payments received (657 ) 27 (630 ) Transfer to foreclosed real estate - - - Change due to loan charge-off - - - Balance at March 31, 2020 $ 12,390 $ (403 ) $ 11,987 Purchased Impaired Loans and Leases Balance at December 31, 2019 $ 160 $ (134 ) $ 26 Change due to payments received (9 ) 2 (7 ) Transfer to foreclosed real estate - - - Change due to loan charge-off - - - Balance at March 31, 2020 $ 151 $ (132 ) $ 19 Benchmark Bank (in thousands) Contractual Principal Accretable Carrying Receivable Difference Amount Purchased Performing Loans and Leases Balance at December 31, 2019 $ 58,953 $ (1,177 ) $ 57,776 Change due to payments received (5,132 ) 117 (5,015 ) Transfer to foreclosed real estate - - - Change due to loan charge-off - - - Balance at March 31, 2020 $ 53,821 $ (1,060 ) $ 52,761 Purchased Impaired Loans and Leases Balance at December 31, 2019 $ 354 $ (192 ) $ 162 Change due to payments received (36 ) 19 (17 ) Transfer to foreclosed real estate - - - Change due to loan charge-off - - - Balance at March 31, 2020 $ 318 $ (173 ) $ 145 There was no three March 31, 2020 2019 no |
Note 5 - Other Borrowings
Note 5 - Other Borrowings | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | NOTE 5 Other borrowings consists of the following at March 31, 2020 December 31, 2019 (in thousands) March 31, December 31, 2020 2019 Federal Home Loan Bank borrowings: 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 1.55% at March 31, 2020 and 2.13% at December 31, 2019, 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 United Bankers Bank Note payable, with interest at 4.875% and $250,000 principal payments payable quarterly with any remaining unpaid principal, due September 1, 2022. All Union Bank stock is held as collateral. 8,500 8,750 Total other borrowings $ 58,500 $ 58,750 Federal Home Loan Bank borrowings are secured by Federal Home Loan Bank stock and eligible mortgage loans approxima ting $163,896,000 $186,076,000 March 31, 2020 December 31, 2019 Future maturities of other borrowings are as follows: 2020: $6,750,000; 2021, $30,000,000; 2022, $21,750,000. |
Note 6 - Junior Subordinated De
Note 6 - Junior Subordinated Deferrable Interest Debentures | 3 Months Ended |
Mar. 31, 2020 | |
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 4.38% March 31, 2020 5.10% December 31, 2019 not 20 The Corporation assumed $3,093,000 $3,000,000 $93,000 March 31, 2020 December 31, 2019 as $2,616,000 $2,608,000, April 23, 2034. 285 3 to 4.66% March 31, 2020 4.78% December 31, 2019 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 $16 1,000 $191,000 three March 31, 2020 2019 |
Note 7 - Fair Value Measurement
Note 7 - Fair Value Measurements | 3 Months Ended |
Mar. 31, 2020 | |
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 March 31, 2020 December 31, 2019 1 2 $825,000 March 31, 2020 $1,061,000 December 31, 2019 3 inputs. Financial assets measured at fair value on a nonrecurring basis at March 31, 2020 include loans classified as impaired totaling $1, 732 ,000 $1,495,000 December 31, 2019 There were no March 31, 2020 March 31, 2020 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 three March 31, 2020 December 31, 2019 (in thousands) March 31, December 31, 2020 2019 Mortgage Servicing Rights Balance at beginning of period $ 1,061 $ 1,313 Gains or losses, including realized and unrealized: Purchases, issuances, and settlements 53 192 Disposals - amortization based on loan payments and payoffs (46 ) (186 ) Changes in fair value (243 ) (258 ) Balance at end of period $ 825 $ 1,061 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 March 31, 2020 December 31, 2019 |
Note 8 - Fair Value of Financia
Note 8 - Fair Value of Financial Instruments | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Financial Instruments Disclosure [Text Block] | NOTE 8 The carrying amounts and estimated fair values of recognized financial instruments at March 31, 2020 December 31, 2019 (in thousands) March 31, 2020 December 31, 2019 Carrying amount Estimated value Carrying amount Estimated value Input Level FINANCIAL ASSETS Cash and cash equivalents $ 44,772 $ 44,772 $ 26,412 $ 26,412 1 Securities, including FHLB stock 193,298 193,298 188,913 188,913 2,3 Loans held for sale 19,613 19,613 15,301 15,301 3 Net loans and leases 569,294 570,267 572,293 572,936 3 Mortgage servicing rights 825 825 1,061 1,061 3 Hedging assets 1,960 1,960 970 970 3 Total Financial Assets $ 829,762 $ 830,735 $ 804,950 $ 805,593 FINANCIAL LIABILITIES Deposits Maturity $ 183,971 $ 185,705 $ 197,391 $ 197,428 3 Non-maturity 541,165 541,165 509,743 509,743 1 Other borrowings 58,500 58,427 58,750 58,692 3 Junior subordinated deferrable interest debentures 12,916 6,307 12,908 11,067 3 Hedging liabilities 1,123 1,123 27 27 3 Total Financial Liabilities $ 797,675 $ 792,727 $ 778,819 $ 776,957 The above summary does not There are also unrecognized financial instruments at March 31, 2020 December 31, 2019 to $141,005,000 March 31, 2020 $133,220,000 December 31, 2019 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 | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | NOTE 9 The United Bancshares, Inc. 2016 250,000 The Corporation has issued 30,151 2017 $21.70, 31,267 2018 $23.30, 33,853 2019 $22.97 three March 31, 2020 March 31, 2019 March 31, March 31, 2020 2019 Outstanding, beginning of period 117,647 93,069 Granted - - Exercised - - Forfeited - - Outstanding, end of period 117,647 93,069 Weighted average exercise price at end of quarter $ 21.81 $ 21.39 The options vest over a three March 31, 2020 57,033 31,718 March 31, 2019 of 7.9 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 that are still vesting: 2019 2018 2017 Weighted-average fair value of options granted $ 7.77 $ 7.87 $ 7.35 Average dividend yield 2.26 % 2.18 % 2.23 % Expected volatility 40.00 % 40.00 % 40.00 % Risk-free interest rate 1.93 % 2.81 % 2.06 % Expected term (years) 7 7 7 Total compensation expense related to the stock options granted in 2017 $192,000 36 August 1, 2017. 2018 $213,000 36 September 1, 2018. 2019 $263,000 36 July 1, 2019. $60,000 three March 31, 2020 $55,000 three March 31, 2019 |
Note 10 - Non-interest Income
Note 10 - Non-interest Income | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Other Income and Other Expense Disclosure [Text Block] | NOTE 10 The Corporation’s revenue from contracts with customers within the scope of ASC 606 Service charges on deposit accounts : Service charges on deposit accounts primarily consist of account analysis fees, monthly maintenance fees, overdraft fees, and other deposit account related fees. Overdraft fees and certain service charges are fixed and the performance obligation is typically satisfied at the time of the related transaction. The consideration for analysis fees and monthly maintenance fees are variable as the fee can be reduced if the customer meets certain qualifying metrics. The Company’s performance obligations are satisfied at the time of the transaction or over the course of a month. Interchange fee income: The Company earns interchange fees from debit and credit cardholder transactions conducted through the MasterCard payment network. Interchange fees from cardholder transactions represent a percentage of the underlying transaction value and are recognized concurrently with the transaction processing services provided to the cardholder. Wealth management income The Company earns wealth management and investment brokerage fees from its services with customers to manage assets for investment, to provide advisory services, and for account transactions. Fees are based on the market value of the assets under management and are recognized monthly as the Company’s performance obligations are met. Commissions on transactions are recognized on a trade-date basis as the performance obligation is satisfied at the point in time in which the trade is processed. Other related services are based on a fixed fee schedule and the revenue is recognized when the services are rendered, which is when the Company has satisfied its performance obligation. The following table presents the Company’s non-interest income for the three March 31, 2020 2019. 606 Three Months ended March 31, 2020 2019 Service charges on deposit accounts $ 350 $ 346 Gain on sale of mortgage and government loans (1) 2,583 1,438 Change in fair value of mortgage servicing rights (1) (243 ) (111 ) Increase in cash surrender value of life insurance (1) 96 98 Other Credit and debit card interchange fees 332 321 Wealth management 85 78 Net loan servicing fees (1) 85 95 Other non-interest income (1) (454 ) 243 Total non-interest income $ 2,834 $ 2,508 ( 1 Not 606 |
Note 11 - Subsequent Events
Note 11 - Subsequent Events | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | NOTE 11 Management evaluated subsequent events through the date the consolidated financial statements were issued. Events or transactions occurring after March 31, 2020 March 31, 2020 March 31, 2020 not March 31, 2020 not March 31, 2020 On April 2, 2020, 1102 1106 1102 7 1106 2019 19” As an SBA-Certified Preferred lender we are delegated the authority as part of the CARES Act to make Paycheck Protection Program SBA-guaranteed financing available to eligible borrowers. The SBA will pay a processing fee based on the balance of the financing outstanding at the time of final disbursement. The processing fees is as follows: 5% not $350,000, 3% $350,000 $2 1% $2 April 28, 2020, 1,100 $106 first first On April 7, 2020, 13 3 On April 28, 2020, 0.07 June 15, 2020 at the close of business on May 29, 2020 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2020 | |
Accounting Policies [Abstract] | |
New Accounting Pronouncements, Policy [Policy Text Block] | In June 2016, 2016 13, 326 four 2016 13 not 2016 13 December 15, 2019. July 17, 2019, 2016 13. October 16, 2019, December 15, 2022. In January 2017, 2017 04, 350 2 December 15, 2019. 2017 04 January 1, 2020 not March 31, 2020 In August 2018, 2018 13, no 1 2 3 2018 13 December 15, 2019. 2018 13 January 1, 2020. not March 31, 2020 In April, 2019, 2019 04, 326, 815, 825, not In December, 2019, 2019 12, 740 740. 740 December 15, 2020. not may not In January, 2020, 2020 01, 321 323 815 321, 323, 815. 321 815 10 15 141 not 323 825. 815 10 15 141 December 15, 2020, not not In March 2020, 2020 03, not In March 2020, 2020 04, 848 March 12, 2020 December 31, 2022. not |
Note 3 - Securities (Tables)
Note 3 - Securities (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | (in thousands) March 31, 2020 Amortized cost Gross unrealized gains Gross unrealized losses Fair value Available-for-sale: Obligations of states and political subdivisions $ 72,019 $ 3,289 $ 44 $ 75,264 Mortgage-backed 107,289 4,117 - 111,406 Other 1,023 7 - 1,030 Total $ 180,331 $ 7,413 $ 44 $ 187,700 (in thousands) December 31, 2019 Amortized cost Gross unrealized gains Gross unrealized losses Fair value Available-for-sale: Obligations of states and political subdivisions $ 70,043 $ 2,593 $ 82 $ 72,554 Mortgage-backed 108,907 1,292 158 110,041 Other 1,025 - 9 1,016 Total $ 179,975 $ 3,885 $ 249 $ 183,611 |
Note 4 - Loans and Leases (Tabl
Note 4 - Loans and Leases (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Financing Receivable, Allowance for Credit Loss [Table Text Block] | (in thousands) Residential 1 – 4 family real estate Commercial and multi-family real estate Commercial Consumer Total Balance at December 31, 2019 $ 592 $ 2,536 $ 939 $ 64 $ 4,131 Provision charged to expenses 109 422 9 10 550 Losses charged off - - (4 ) (5 ) (9 ) Recoveries 3 3 9 - 15 Balance at March 31, 2020 $ 704 $ 2,961 $ 953 $ 69 $ 4,687 Balance at December 31, 2018 $ 576 $ 2,355 $ 534 $ 62 $ 3,527 Provision charged to expenses 33 59 5 3 100 Losses charged off (25 ) - - (3 ) (28 ) Recoveries 3 6 36 - 45 Balance at March 31, 2019 $ 587 $ 2,420 $ 575 $ 62 $ 3,644 |
Financing Receivable, Current, Allowance for Credit Loss [Table Text Block] | (in thousands) March 31, 2020 Residential 1 – 4 family real estate Commercial and multi-family real estate Commercial Consumer Total Allowance for loan and lease losses: Attributable to loans and leases individually evaluated for impairment $ - $ 89 $ 311 $ - $ 400 Collectively evaluated for impairment 704 2,872 642 69 4,287 Total allowance for loan and lease losses $ 704 $ 2,961 $ 953 $ 69 $ 4,687 Loans and leases: Individually evaluated for impairment $ - $ 1,644 $ 1,276 $ - $ 2,920 Acquired with deteriorated credit quality 60 104 - 164 Collectively evaluated for impairment 120,266 371,598 71,057 7,976 570,897 Total ending loans and leases balance $ 120,326 $ 373,346 $ 72,333 $ 7,976 $ 573,981 December 31, 2019 Residential 1 – 4 family real estate Commercial and multi-family real estate Commercial Consumer Total Allowance for loan and lease losses: Attributable to loans and leases individually evaluated for impairment $ - $ 93 $ 342 $ - $ 435 Collectively evaluated for impairment 592 2,443 597 64 3,696 Total allowance for loan and lease losses $ 592 $ 2,536 $ 939 $ 64 $ 4,131 Loans and leases: Individually evaluated for impairment $ - $ 1,499 $ 1,279 $ - $ 2,778 Acquired with deteriorated credit quality 61 127 - - 188 Collectively evaluated for impairment 122,844 365,988 76,379 8,247 573,458 Total ending loans and leases balance $ 122,905 $ 367,614 $ 77,658 $ 8,247 $ 576,424 |
Financing Receivable, Nonaccrual [Table Text Block] | (in thousands) March 31, 2020 Nonaccrual Loans and leases past due over 90 days still accruing Accruing Troubled Debt Restructurings Residential 1-4 family real estate $ 503 $ 97 $ 218 Commercial and multi family real estate 1,294 - 600 Agricultural real estate 4 - - Commercial - - 771 Agriculture - - - Consumer - - - Total $ 1,801 $ 97 $ 1,589 December 31, 2019 Residential 1-4 family real estate $ 414 $ 138 $ 223 Commercial and multi family real estate 545 - 623 Agricultural real estate 4 - - Commercial - - 772 Agriculture - - - Consumer - - - Total $ 963 $ 138 $ 1,618 |
Financing Receivable, Past Due [Table Text Block] | (in thousands) March 31, 2020 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 Residential 1-4 family real estate $ 1,072 $ 473 $ 281 $ 1,826 $ 118,500 $ 120,326 Commercial and multi family real estate 245 30 606 881 334,309 335,190 Agricultural real estate 16 - - 16 38,140 38,156 Commercial 27 27 1 55 61,367 61,422 Agriculture 81 - - 81 10,830 10,911 Consumer 2 - - 2 7,974 7,976 Total $ 1,443 $ 530 $ 888 $ 2,861 $ 571,120 $ 573,981 December 31, 2019 Residential 1-4 family real estate $ 2,709 $ 99 $ 322 $ 3,130 $ 119,775 $ 122,905 Commercial and multi family real estate 177 302 15 494 332,161 332,655 Agricultural real estate - - - - 34,959 34,959 Commercial - 57 5 62 67,826 67,888 Agriculture - - - - 9,770 9,770 Consumer 2 - - 2 8,245 8,247 Total $ 2,888 $ 458 $ 342 $ 3,688 $ 572,736 $ 576,424 |
Financing Receivable Credit Quality Indicators [Table Text Block] | (in thousands) March 31, 2020 Pass Special Mention Substandard Doubtful Not rated Residential 1 - 4 family $ 8,512 $ - $ - $ - $ 111,814 Commercial and multi- family real estate 361,947 1,762 3,432 - 6,205 Commercial 69,807 863 1,662 - 1 Consumer 40 - - - 7,936 Total $ 440,306 $ 2,625 $ 5,094 $ - $ 125,956 December 31, 2019 Residential 1 - 4 family $ 9,219 $ - $ - $ - $ 113,686 Commercial and multi- family real estate 362,519 1,797 3,258 - 40 Commercial 75,559 410 1,688 - 1 Consumer 45 - - - 8,202 Total $ 447,342 $ 2,207 $ 4,946 $ - $ 121,929 |
Schedule of the Performance of the Loan Portfolio [Table Text Block] | (in thousands) March 31, 2020 Residential 1-4 family Commercial and multi-family real estate Commercial Consumer Total Performing $ 111,533 $ 6,190 $ - $ 7,936 $ 125,659 Nonperforming 281 15 1 - 297 Total $ 111,814 $ 6,205 $ 1 $ 7,936 $ 125,956 December 31, 2019 Performing $ 113,364 $ 24 $ - $ 8,202 $ 121,590 Nonperforming 322 16 1 - 339 Total $ 113,686 $ 40 $ 1 $ 8,202 $ 121,929 |
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, 2019 $ 13,047 $ (430 ) $ 12,617 Change due to payments received (657 ) 27 (630 ) Transfer to foreclosed real estate - - - Change due to loan charge-off - - - Balance at March 31, 2020 $ 12,390 $ (403 ) $ 11,987 Purchased Impaired Loans and Leases Balance at December 31, 2019 $ 160 $ (134 ) $ 26 Change due to payments received (9 ) 2 (7 ) Transfer to foreclosed real estate - - - Change due to loan charge-off - - - Balance at March 31, 2020 $ 151 $ (132 ) $ 19 Benchmark Bank (in thousands) Contractual Principal Accretable Carrying Receivable Difference Amount Purchased Performing Loans and Leases Balance at December 31, 2019 $ 58,953 $ (1,177 ) $ 57,776 Change due to payments received (5,132 ) 117 (5,015 ) Transfer to foreclosed real estate - - - Change due to loan charge-off - - - Balance at March 31, 2020 $ 53,821 $ (1,060 ) $ 52,761 Purchased Impaired Loans and Leases Balance at December 31, 2019 $ 354 $ (192 ) $ 162 Change due to payments received (36 ) 19 (17 ) Transfer to foreclosed real estate - - - Change due to loan charge-off - - - Balance at March 31, 2020 $ 318 $ (173 ) $ 145 |
Note 5 - Other Borrowings (Tabl
Note 5 - Other Borrowings (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | (in thousands) March 31, December 31, 2020 2019 Federal Home Loan Bank borrowings: 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 1.55% at March 31, 2020 and 2.13% at December 31, 2019, 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 United Bankers Bank Note payable, with interest at 4.875% and $250,000 principal payments payable quarterly with any remaining unpaid principal, due September 1, 2022. All Union Bank stock is held as collateral. 8,500 8,750 Total other borrowings $ 58,500 $ 58,750 |
Note 7 - Fair Value Measureme_2
Note 7 - Fair Value Measurements (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | (in thousands) March 31, December 31, 2020 2019 Mortgage Servicing Rights Balance at beginning of period $ 1,061 $ 1,313 Gains or losses, including realized and unrealized: Purchases, issuances, and settlements 53 192 Disposals - amortization based on loan payments and payoffs (46 ) (186 ) Changes in fair value (243 ) (258 ) Balance at end of period $ 825 $ 1,061 |
Note 8 - Fair Value of Financ_2
Note 8 - Fair Value of Financial Instruments (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Fair Value, by Balance Sheet Grouping [Table Text Block] | (in thousands) March 31, 2020 December 31, 2019 Carrying amount Estimated value Carrying amount Estimated value Input Level FINANCIAL ASSETS Cash and cash equivalents $ 44,772 $ 44,772 $ 26,412 $ 26,412 1 Securities, including FHLB stock 193,298 193,298 188,913 188,913 2,3 Loans held for sale 19,613 19,613 15,301 15,301 3 Net loans and leases 569,294 570,267 572,293 572,936 3 Mortgage servicing rights 825 825 1,061 1,061 3 Hedging assets 1,960 1,960 970 970 3 Total Financial Assets $ 829,762 $ 830,735 $ 804,950 $ 805,593 FINANCIAL LIABILITIES Deposits Maturity $ 183,971 $ 185,705 $ 197,391 $ 197,428 3 Non-maturity 541,165 541,165 509,743 509,743 1 Other borrowings 58,500 58,427 58,750 58,692 3 Junior subordinated deferrable interest debentures 12,916 6,307 12,908 11,067 3 Hedging liabilities 1,123 1,123 27 27 3 Total Financial Liabilities $ 797,675 $ 792,727 $ 778,819 $ 776,957 |
Note 9 - Stock Options (Tables)
Note 9 - Stock Options (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | March 31, March 31, 2020 2019 Outstanding, beginning of period 117,647 93,069 Granted - - Exercised - - Forfeited - - Outstanding, end of period 117,647 93,069 Weighted average exercise price at end of quarter $ 21.81 $ 21.39 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | 2019 2018 2017 Weighted-average fair value of options granted $ 7.77 $ 7.87 $ 7.35 Average dividend yield 2.26 % 2.18 % 2.23 % Expected volatility 40.00 % 40.00 % 40.00 % Risk-free interest rate 1.93 % 2.81 % 2.06 % Expected term (years) 7 7 7 |
Note 10 - Non-interest Income (
Note 10 - Non-interest Income (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Schedule of Noninterest Income [Table Text Block] | Three Months ended March 31, 2020 2019 Service charges on deposit accounts $ 350 $ 346 Gain on sale of mortgage and government loans (1) 2,583 1,438 Change in fair value of mortgage servicing rights (1) (243 ) (111 ) Increase in cash surrender value of life insurance (1) 96 98 Other Credit and debit card interchange fees 332 321 Wealth management 85 78 Net loan servicing fees (1) 85 95 Other non-interest income (1) (454 ) 243 Total non-interest income $ 2,834 $ 2,508 |
Note 3 - Securities - Amortized
Note 3 - Securities - Amortized Cost and Fair Value of Securities (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Available-for-sale securities, Amortized cost | $ 180,331 | $ 179,975 |
Available-for-sale securities, Gross unrealized gains | 7,413 | 3,885 |
Available-for-sale securities, Gross unrealized losses | 44 | 249 |
Available-for-sale securities, Fair Value | 187,700 | 183,611 |
US States and Political Subdivisions Debt Securities [Member] | ||
Available-for-sale securities, Amortized cost | 72,019 | 70,043 |
Available-for-sale securities, Gross unrealized gains | 3,289 | 2,593 |
Available-for-sale securities, Gross unrealized losses | 44 | 82 |
Available-for-sale securities, Fair Value | 75,264 | 72,554 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Available-for-sale securities, Amortized cost | 107,289 | 108,907 |
Available-for-sale securities, Gross unrealized gains | 4,117 | 1,292 |
Available-for-sale securities, Gross unrealized losses | 158 | |
Available-for-sale securities, Fair Value | 111,406 | 110,041 |
Other Debt Obligations [Member] | ||
Available-for-sale securities, Amortized cost | 1,023 | 1,025 |
Available-for-sale securities, Gross unrealized gains | 7 | |
Available-for-sale securities, Gross unrealized losses | 9 | |
Available-for-sale securities, Fair Value | $ 1,030 | $ 1,016 |
Note 4 - Loans and Leases (Deta
Note 4 - Loans and Leases (Details Textual) xbrli-pure in Thousands | 3 Months Ended | |
Mar. 31, 2020USD ($) | Mar. 31, 2019USD ($) | |
Impaired Financing Receivable, Average Recorded Investment, Total | $ 2,847,000 | $ 1,307,000 |
Impaired Financing Receivable, Related Allowance | 400,000 | 100,000 |
Impaired Financing Receivable, Interest Income, Accrual Method, Total | $ 12,000 | 24,000 |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 0 | |
Provision for Loan and Lease Losses, Total | $ 550,000 | 100,000 |
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 | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Allowance for loan and lease losses beginning balance | $ 4,131 | $ 3,527 |
Provision charged to expenses | 550 | 100 |
Losses charged off | (9) | (28) |
Recoveries | 15 | 45 |
Allowance for loan and lease losses ending balance | 4,687 | 3,644 |
Commercial and Agriculture Portfolio Segment [Member] | ||
Allowance for loan and lease losses beginning balance | 592 | 576 |
Provision charged to expenses | 109 | 33 |
Losses charged off | (25) | |
Recoveries | 3 | 3 |
Allowance for loan and lease losses ending balance | 704 | 587 |
Commercial and Agricultural Real Estate Portfolio Segment [Member] | ||
Allowance for loan and lease losses beginning balance | 2,536 | 2,355 |
Provision charged to expenses | 422 | 59 |
Losses charged off | ||
Recoveries | 3 | 6 |
Allowance for loan and lease losses ending balance | 2,961 | 2,420 |
Residential 1 - 4 Family Real Estate [Member] | ||
Allowance for loan and lease losses beginning balance | 939 | 534 |
Provision charged to expenses | 9 | 5 |
Losses charged off | (4) | |
Recoveries | 9 | 36 |
Allowance for loan and lease losses ending balance | 953 | 575 |
Consumer Portfolio Segment [Member] | ||
Allowance for loan and lease losses beginning balance | 64 | 62 |
Provision charged to expenses | 10 | 3 |
Losses charged off | (5) | (3) |
Recoveries | ||
Allowance for loan and lease losses ending balance | $ 69 | $ 62 |
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 | Mar. 31, 2020 | Dec. 31, 2019 |
Attributable to loans and leases individually evaluated for impairment | $ 400 | $ 435 |
Collectively evaluated for impairment | 4,287 | 3,696 |
Total allowance for loan and lease losses | 4,687 | 4,131 |
Individually evaluated for impairment | 2,920 | 2,778 |
Acquired with deteriorated credit quality | 125,956 | 121,929 |
Collectively evaluated for impairment | 570,897 | 573,458 |
Loans receivable | 573,981 | 576,424 |
Financial Asset Acquired with Credit Deterioration [Member] | ||
Acquired with deteriorated credit quality | 164 | 188 |
Residential 1 - 4 Family Real Estate [Member] | ||
Attributable to loans and leases individually evaluated for impairment | ||
Collectively evaluated for impairment | 704 | 592 |
Total allowance for loan and lease losses | 704 | 592 |
Individually evaluated for impairment | ||
Collectively evaluated for impairment | 120,266 | 122,844 |
Loans receivable | 120,326 | 122,905 |
Residential 1 - 4 Family Real Estate [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||
Acquired with deteriorated credit quality | 60 | 61 |
Commercial and Agricultural Real Estate Portfolio Segment [Member] | ||
Attributable to loans and leases individually evaluated for impairment | 89 | 93 |
Collectively evaluated for impairment | 2,872 | 2,443 |
Total allowance for loan and lease losses | 2,961 | 2,536 |
Individually evaluated for impairment | 1,644 | 1,499 |
Collectively evaluated for impairment | 371,598 | 365,988 |
Loans receivable | 373,346 | 367,614 |
Commercial and Agricultural Real Estate Portfolio Segment [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||
Acquired with deteriorated credit quality | 104 | 127 |
Commercial and Agriculture Portfolio Segment [Member] | ||
Attributable to loans and leases individually evaluated for impairment | 311 | 342 |
Collectively evaluated for impairment | 642 | 597 |
Total allowance for loan and lease losses | 953 | 939 |
Individually evaluated for impairment | 1,276 | 1,279 |
Collectively evaluated for impairment | 71,057 | 76,379 |
Loans receivable | 72,333 | 77,658 |
Commercial and Agriculture Portfolio Segment [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||
Acquired with deteriorated credit quality | ||
Consumer Portfolio Segment [Member] | ||
Attributable to loans and leases individually evaluated for impairment | ||
Collectively evaluated for impairment | 69 | 64 |
Total allowance for loan and lease losses | 69 | 64 |
Individually evaluated for impairment | ||
Acquired with deteriorated credit quality | 7,936 | 8,202 |
Collectively evaluated for impairment | 7,976 | 8,247 |
Loans receivable | 7,976 | 8,247 |
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 | Mar. 31, 2020 | Dec. 31, 2019 |
Recorded investment, nonaccrual | $ 1,801 | $ 963 |
Loans and leases past due over 90 days still accruing | 97 | 138 |
Troubled debt restructurings | 1,589 | 1,618 |
Residential 1 - 4 Family Real Estate [Member] | ||
Recorded investment, nonaccrual | 503 | 414 |
Loans and leases past due over 90 days still accruing | 97 | 138 |
Troubled debt restructurings | 218 | 223 |
Commercial Real Estate Portfolio Segment [Member] | ||
Recorded investment, nonaccrual | 1,294 | 545 |
Loans and leases past due over 90 days still accruing | ||
Troubled debt restructurings | 600 | 623 |
Agricultural Real Estate [Member] | ||
Recorded investment, nonaccrual | 4 | 4 |
Loans and leases past due over 90 days still accruing | ||
Troubled debt restructurings | ||
Commercial Portfolio Segment [Member] | ||
Recorded investment, nonaccrual | ||
Loans and leases past due over 90 days still accruing | ||
Troubled debt restructurings | 771 | 772 |
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 |
Note 4 - Loans and Leases - Agi
Note 4 - Loans and Leases - Aging of the Recorded Investment in Past Due Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Past due | $ 2,861 | $ 3,688 |
Loans and leases not past due | 571,120 | 572,736 |
Total loans and leases balance | 573,981 | 576,424 |
Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due | 1,443 | 2,888 |
Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due | 530 | 458 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due | 888 | 342 |
Residential 1 - 4 Family Real Estate [Member] | ||
Past due | 1,826 | 3,130 |
Loans and leases not past due | 118,500 | 119,775 |
Total loans and leases balance | 120,326 | 122,905 |
Residential 1 - 4 Family Real Estate [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due | 1,072 | 2,709 |
Residential 1 - 4 Family Real Estate [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due | 473 | 99 |
Residential 1 - 4 Family Real Estate [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due | 281 | 322 |
Commercial and Multi-Family Real Estate [Member] | ||
Past due | 881 | 494 |
Loans and leases not past due | 334,309 | 332,161 |
Total loans and leases balance | 335,190 | 332,655 |
Commercial and Multi-Family Real Estate [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due | 245 | 177 |
Commercial and Multi-Family Real Estate [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due | 30 | 302 |
Commercial and Multi-Family Real Estate [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due | 606 | 15 |
Agriculture [Member] | ||
Past due | 81 | |
Loans and leases not past due | 10,830 | 9,770 |
Total loans and leases balance | 10,911 | 9,770 |
Agriculture [Member] | Real Estate Loan [Member] | ||
Past due | 16 | |
Loans and leases not past due | 38,140 | 34,959 |
Total loans and leases balance | 38,156 | 34,959 |
Agriculture [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due | 81 | |
Agriculture [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Real Estate Loan [Member] | ||
Past due | 16 | |
Agriculture [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due | ||
Agriculture [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Real Estate Loan [Member] | ||
Past due | ||
Agriculture [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due | ||
Agriculture [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Real Estate Loan [Member] | ||
Past due | ||
Commercial Portfolio Segment [Member] | ||
Past due | 55 | 62 |
Loans and leases not past due | 61,367 | 67,826 |
Total loans and leases balance | 61,422 | 67,888 |
Commercial Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due | 27 | |
Commercial Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due | 27 | 57 |
Commercial Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due | 1 | 5 |
Consumer Portfolio Segment [Member] | ||
Past due | 2 | 2 |
Loans and leases not past due | 7,974 | 8,245 |
Total loans and leases balance | 7,976 | 8,247 |
Consumer Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due | 2 | 2 |
Consumer Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due | ||
Consumer Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due |
Note 4 - Loans and Leases - Loa
Note 4 - Loans and Leases - Loans by Credit Quality Indicators (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Loans receivable | $ 573,981 | $ 576,424 |
Pass [Member] | ||
Loans receivable | 440,306 | 447,342 |
Special Mention [Member] | ||
Loans receivable | 2,625 | 2,207 |
Substandard [Member] | ||
Loans receivable | 5,094 | 4,946 |
Doubtful [Member] | ||
Loans receivable | ||
Not Rated [Member] | ||
Loans receivable | 125,956 | 121,929 |
Residential 1 - 4 Family Real Estate [Member] | ||
Loans receivable | 120,326 | 122,905 |
Residential 1 - 4 Family Real Estate [Member] | Pass [Member] | ||
Loans receivable | 8,512 | 9,219 |
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 | 111,814 | 113,686 |
Commercial and Agricultural Real Estate Portfolio Segment [Member] | ||
Loans receivable | 373,346 | 367,614 |
Commercial and Agricultural Real Estate Portfolio Segment [Member] | Pass [Member] | ||
Loans receivable | 361,947 | |
Commercial and Agricultural Real Estate Portfolio Segment [Member] | Special Mention [Member] | ||
Loans receivable | 1,762 | |
Commercial and Agricultural Real Estate Portfolio Segment [Member] | Substandard [Member] | ||
Loans receivable | 3,432 | |
Commercial and Agricultural Real Estate Portfolio Segment [Member] | Doubtful [Member] | ||
Loans receivable | ||
Commercial and Agricultural Real Estate Portfolio Segment [Member] | Not Rated [Member] | ||
Loans receivable | 6,205 | |
Commercial and Agriculture Loans [Member] | Pass [Member] | ||
Loans receivable | 69,807 | |
Commercial and Agriculture Loans [Member] | Special Mention [Member] | ||
Loans receivable | 863 | |
Commercial and Agriculture Loans [Member] | Substandard [Member] | ||
Loans receivable | 1,662 | |
Commercial and Agriculture Loans [Member] | Doubtful [Member] | ||
Loans receivable | ||
Commercial and Agriculture Loans [Member] | Not Rated [Member] | ||
Loans receivable | 1 | |
Consumer Portfolio Segment [Member] | ||
Loans receivable | 7,976 | 8,247 |
Consumer Portfolio Segment [Member] | Pass [Member] | ||
Loans receivable | 40 | 45 |
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 | 7,936 | 8,202 |
Commercial and Multi-Family Real Estate [Member] | ||
Loans receivable | 335,190 | 332,655 |
Commercial and Multi-Family Real Estate [Member] | Pass [Member] | ||
Loans receivable | 362,519 | |
Commercial and Multi-Family Real Estate [Member] | Special Mention [Member] | ||
Loans receivable | 1,797 | |
Commercial and Multi-Family Real Estate [Member] | Substandard [Member] | ||
Loans receivable | 3,258 | |
Commercial and Multi-Family Real Estate [Member] | Doubtful [Member] | ||
Loans receivable | ||
Commercial and Multi-Family Real Estate [Member] | Not Rated [Member] | ||
Loans receivable | 40 | |
Commercial Portfolio Segment [Member] | ||
Loans receivable | $ 61,422 | 67,888 |
Commercial Portfolio Segment [Member] | Pass [Member] | ||
Loans receivable | 75,559 | |
Commercial Portfolio Segment [Member] | Special Mention [Member] | ||
Loans receivable | 410 | |
Commercial Portfolio Segment [Member] | Substandard [Member] | ||
Loans receivable | 1,688 | |
Commercial Portfolio Segment [Member] | Doubtful [Member] | ||
Loans receivable | ||
Commercial Portfolio Segment [Member] | Not Rated [Member] | ||
Loans receivable | $ 1 |
Note 4 - Loans and Leases - Per
Note 4 - Loans and Leases - Performance of Loan Portfolio (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Loans receivable | $ 125,956 | $ 121,929 |
Residential Portfolio Segment [Member] | ||
Loans receivable | 111,814 | 113,686 |
Commercial and Multi-Family Real Estate [Member] | ||
Loans receivable | 6,205 | 40 |
Commercial Portfolio Segment [Member] | ||
Loans receivable | 1 | 1 |
Consumer Portfolio Segment [Member] | ||
Loans receivable | 7,936 | 8,202 |
Performing Financial Instruments [Member] | ||
Loans receivable | 125,659 | 121,590 |
Performing Financial Instruments [Member] | Residential Portfolio Segment [Member] | ||
Loans receivable | 111,533 | 113,364 |
Performing Financial Instruments [Member] | Commercial and Multi-Family Real Estate [Member] | ||
Loans receivable | 6,190 | 24 |
Performing Financial Instruments [Member] | Commercial Portfolio Segment [Member] | ||
Loans receivable | ||
Performing Financial Instruments [Member] | Consumer Portfolio Segment [Member] | ||
Loans receivable | 7,936 | 8,202 |
Nonperforming Financial Instruments [Member] | ||
Loans receivable | 297 | 339 |
Nonperforming Financial Instruments [Member] | Residential Portfolio Segment [Member] | ||
Loans receivable | 281 | 322 |
Nonperforming Financial Instruments [Member] | Commercial and Multi-Family Real Estate [Member] | ||
Loans receivable | 15 | 16 |
Nonperforming Financial Instruments [Member] | Commercial Portfolio Segment [Member] | ||
Loans receivable | 1 | 1 |
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 | 3 Months Ended |
Mar. 31, 2020USD ($) | |
Ohio State Bancshares Inc [Member] | Performing Financial Instruments [Member] | |
Contractual principal receivable, beginning balance | $ 13,047 |
Accretable difference, beginning balance | (430) |
Carrying amount, beginning balance | 12,617 |
Contractual principal receivable, change due to payments received | (657) |
Accretable difference, change due to payments received | 27 |
Carrying amount, change due to payments received | (630) |
Contractual principal receivable, ending balance | 12,390 |
Accretable difference, ending balance | (403) |
Carrying amount, ending balance | 11,987 |
Ohio State Bancshares Inc [Member] | Nonperforming Financial Instruments [Member] | |
Contractual principal receivable, beginning balance | 160 |
Accretable difference, beginning balance | (134) |
Carrying amount, beginning balance | 26 |
Contractual principal receivable, change due to payments received | (9) |
Accretable difference, change due to payments received | 2 |
Carrying amount, change due to payments received | (7) |
Contractual principal receivable, ending balance | 151 |
Accretable difference, ending balance | (132) |
Carrying amount, ending balance | 19 |
Benchmark Bancorp, Inc. [Member] | Performing Financial Instruments [Member] | |
Contractual principal receivable, beginning balance | 58,953 |
Accretable difference, beginning balance | (1,177) |
Carrying amount, beginning balance | 57,776 |
Contractual principal receivable, change due to payments received | (5,132) |
Accretable difference, change due to payments received | 117 |
Carrying amount, change due to payments received | (5,015) |
Contractual principal receivable, ending balance | 53,821 |
Accretable difference, ending balance | (1,060) |
Carrying amount, ending balance | 52,761 |
Benchmark Bancorp, Inc. [Member] | Nonperforming Financial Instruments [Member] | |
Contractual principal receivable, beginning balance | 354 |
Accretable difference, beginning balance | (192) |
Carrying amount, beginning balance | 162 |
Contractual principal receivable, change due to payments received | (36) |
Accretable difference, change due to payments received | 19 |
Carrying amount, change due to payments received | (17) |
Contractual principal receivable, ending balance | 318 |
Accretable difference, ending balance | (173) |
Carrying amount, ending balance | $ 145 |
Note 5 - Other Borrowings (Deta
Note 5 - Other Borrowings (Details Textual) - USD ($) | Mar. 31, 2020 | Dec. 31, 2019 |
Loans Pledged as Collateral | $ 163,896,000 | $ 186,076,000 |
Other Borrowings, Maturities, Remainder of Fiscal Year | 6,750,000 | |
Other Borrowings, Maturities, Year Two | 30,000,000 | |
Other Borrowings, Maturities, Year Three | $ 21,750,000 |
Note 5 - Other Borrowings - Com
Note 5 - Other Borrowings - Composition of Other Borrowings (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Other Borrowings | $ 58,500 | $ 58,750 |
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 |
Note Payable With Interest At 4.875% [Member] | ||
Other Borrowings | $ 8,500 | $ 8,750 |
Note 5 - Other Borrowings - C_2
Note 5 - Other Borrowings - Composition of Other Borrowings (Details) (Parentheticals) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2020 | Dec. 31, 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 | 1.55% | 2.13% |
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, 2021 | Sep. 1, 2021 |
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 |
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 |
Debt instrument, periodic principal payments | $ 250 | $ 250 |
Note 6 - Junior Subordinated _2
Note 6 - Junior Subordinated Deferrable Interest Debentures (Details Textual) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2020USD ($) | Mar. 31, 2019USD ($) | Dec. 31, 2019USD ($) | |
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 | $ 12,916,000 | $ 12,908,000 | |
Subordinated Borrowing, Interest Rate | 4.38% | 5.10% | |
Subordinated Debenture, Default, Interest Payment Deferment Quarterly Periods | 20 | ||
Other Long-term Debt, Total | $ 2,616,000 | $ 2,608,000 | |
Interest Expense, Debt, Total | $ 161,000 | $ 191,000 | |
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 | 4.66% | 4.78% | |
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) | Mar. 31, 2020USD ($) | Dec. 31, 2019USD ($) |
Financial Liabilities Fair Value Disclosure, Total | $ 792,727,000 | $ 776,957,000 |
Assets, Fair Value Disclosure | $ 830,735,000 | 805,593,000 |
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 | $ 1,732,000 | 1,495,000 |
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 | $ 825,000 | $ 1,061,000 |
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 | 3 Months Ended | 12 Months Ended |
Mar. 31, 2020 | Dec. 31, 2019 | |
Balance at beginning of period | $ 1,061 | $ 1,313 |
Purchases, issuances, and settlements | 53 | 192 |
Disposals - amortization based on loan payments and payoffs | (46) | (186) |
Changes in fair value | (243) | (258) |
Balance at end of period | $ 825 | $ 1,061 |
Note 8 - Fair Value of Financ_3
Note 8 - Fair Value of Financial Instruments (Details Textual) - USD ($) | Mar. 31, 2020 | Dec. 31, 2019 |
Commitments to Extend Credit [Member] | ||
Other Commitment, Total | $ 141,005,000 | $ 133,220,000 |
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 | Mar. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Total Financial Assets | $ 830,735 | $ 805,593 | |
Total Financial Liabilities | 792,727 | 776,957 | |
Fair Value, Inputs, Level 1 [Member] | |||
Cash and cash equivalents | 44,772 | 26,412 | |
Fair Value, Inputs, Level 1 [Member] | Non-Maturity Deposits [Member] | |||
Deposits | 541,165 | 509,743 | |
Fair Value, Inputs Level 2 and Level 3 [Member] | |||
Securities, including FHLB stock | 193,298 | 188,913 | |
Fair Value, Inputs, Level 3 [Member] | |||
Loans held for sale | 19,613 | 15,301 | |
Net loans and leases | 570,267 | 572,936 | |
Mortgage servicing rights | 825 | 1,061 | $ 1,313 |
Hedging assets | 1,960 | 970 | |
Other borrowings | 58,427 | 58,692 | |
Junior subordinated deferrable interest debentures | 6,307 | 11,067 | |
Hedging liabilities | 1,123 | 27 | |
Fair Value, Inputs, Level 3 [Member] | Maturity Deposits [Member] | |||
Deposits | 185,705 | 197,428 | |
Reported Value Measurement [Member] | |||
Total Financial Assets | 829,762 | 804,950 | |
Total Financial Liabilities | 797,675 | 778,819 | |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Cash and cash equivalents | 44,772 | 26,412 | |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | Non-Maturity Deposits [Member] | |||
Deposits | 541,165 | 509,743 | |
Reported Value Measurement [Member] | Fair Value, Inputs Level 2 and Level 3 [Member] | |||
Securities, including FHLB stock | 193,298 | 188,913 | |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Loans held for sale | 19,613 | 15,301 | |
Net loans and leases | 569,294 | 572,293 | |
Mortgage servicing rights | 825 | 1,061 | |
Hedging assets | 1,960 | 970 | |
Other borrowings | 58,500 | 58,750 | |
Junior subordinated deferrable interest debentures | 12,916 | 12,908 | |
Hedging liabilities | 1,123 | 27 | |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | Maturity Deposits [Member] | |||
Deposits | $ 183,971 | $ 197,391 |
Note 9 - Stock Options (Details
Note 9 - Stock Options (Details Textual) - USD ($) | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | |||||
Stock Option Plan [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 33,853 | 31,267 | 30,151 | ||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share) | $ 22.97 | $ 23.30 | $ 21.70 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares (in shares) | 57,033 | 31,718 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term (Year) | 7 years 328 days | ||||
Share-based Payment Arrangement, Option [Member] | Stock Option Plan [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 250,000 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 3 years | ||||
Share-based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount | $ 263,000 | $ 213,000 | $ 192,000 | ||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Month) | 3 years | 3 years | 3 years | ||
Share-based Payment Arrangement, Expense, after Tax | $ 60,000 | $ 55,000 |
Note 9 - Stock Options - Summar
Note 9 - Stock Options - Summary of Activity for Stock Options (Details) - $ / shares | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2019 | |
Outstanding, beginning of period (in shares) | 117,647 | 93,069 | 93,069 |
Granted (in shares) | |||
Exercised (in shares) | |||
Forfeited (in shares) | |||
Outstanding, end of period (in shares) | 117,647 | 93,069 | 117,647 |
Weighted average exercise price at end of quarter (in dollars per share) | $ 21.81 | $ 21.39 |
Note 9 - Stock Options - Schedu
Note 9 - Stock Options - Schedule of Assumptions Used In Calculating the Fair Value of Options Granted (Details) - $ / shares | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Weighted-average fair value of options granted (in dollars per share) | $ 7.77 | $ 7.87 | $ 7.35 |
Average dividend yield | 2.26% | 2.18% | 2.23% |
Expected volatility | 40.00% | 40.00% | 40.00% |
Risk-free interest rate | 1.93% | 2.81% | 2.06% |
Expected term (years) (Year) | 7 years | 7 years | 7 years |
Note 10 - Non-interest Income -
Note 10 - Non-interest Income - Non-interest Income (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | ||
Gain on sale of loans | [1] | $ 2,583 | $ 1,438 |
Change in fair value of mortgage servicing rights | [1] | (243) | (111) |
Increase in cash surrender value of life insurance | [1] | 96 | 98 |
Wealth management | 85 | 78 | |
Net loan servicing fees | [1] | 85 | 95 |
Other non-interest income | [1] | (454) | 243 |
Total non-interest income | 2,834 | 2,508 | |
Deposit Account [Member] | |||
Revenue from customers | 350 | 346 | |
Credit and Debit Card [Member] | |||
Revenue from customers | $ 332 | $ 321 | |
[1] | Not within the scope of ASC 606 |
Note 11 - Subsequent Events (De
Note 11 - Subsequent Events (Details Textual) - Subsequent Event [Member] $ / shares in Units, $ in Millions | Apr. 28, 2020$ / shares | Apr. 28, 2020USD ($)$ / shares |
Number of Clients Assisted With PPP | 1,100 | |
Paycheck Protection Program Financing, Clients Assisted, Amount | $ | $ 106 | |
Dividends Payable, Amount Per Share (in dollars per share) | $ / shares | $ 0.07 | $ 0.07 |
Dividends Payable, Date to be Paid | Jun. 15, 2020 | |
Dividends Payable, Date of Record | May 29, 2020 |