Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2017 | Nov. 06, 2017 | |
Document Information [Line Items] | ||
Entity Registrant Name | PATRIOT NATIONAL BANCORP INC | |
Entity Central Index Key | 1,098,146 | |
Trading Symbol | pnbk | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Well-known Seasoned Issuer | No | |
Entity Common Stock, Shares Outstanding (in shares) | 3,895,720 | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2017 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
ASSETS | ||
Noninterest bearing deposits and cash | $ 3,337 | $ 2,596 |
Interest bearing deposits | 25,075 | 89,693 |
Total cash and cash equivalents | 28,412 | 92,289 |
Investment securities: | ||
Available-for-sale securities, at fair value | 29,586 | 24,428 |
Other investments, at cost | 4,450 | 4,450 |
Total investment securities | 34,036 | 28,878 |
Federal Reserve Bank stock, at cost | 2,460 | 2,109 |
Federal Home Loan Bank stock, at cost | 6,353 | 5,609 |
Loans receivable (net of allowance for loan losses: 2017: $6,222, 2016: $4,675) | 703,896 | 576,982 |
Accrued interest and dividends receivable | 3,501 | 2,726 |
Premises and equipment, net | 34,713 | 32,759 |
Other real estate owned | 851 | 851 |
Deferred tax asset | 10,686 | 12,632 |
Other assets | 1,823 | 1,819 |
Total assets | 826,731 | 756,654 |
Liabilities | ||
Noninterest bearing deposits | 76,875 | 76,772 |
Interest bearing deposits | 528,539 | 452,552 |
Total deposits | 605,414 | 529,324 |
Federal Home Loan Bank and correspondent bank borrowings | 130,000 | 138,000 |
Senior notes, net | 11,684 | 11,628 |
Junior subordinated debt owed to unconsolidated trust | 8,085 | 8,079 |
Note payable | 1,627 | 1,769 |
Advances from borrowers for taxes and insurance | 1,799 | 2,676 |
Accrued expenses and other liabilities | 1,812 | 2,608 |
Total liabilities | 760,421 | 694,084 |
Commitments and Contingencies | ||
Shareholders' equity | ||
Preferred stock, no par value; 1,000,000 shares authorized, no shares issued and outstanding | 0 | 0 |
Common stock, $.01 par value, 100,000,000 shares authorized; 2017: 3,969,461 shares issued; 3,895,720 shares outstanding. 2016: 3,965,538 shares issued; 3,891,897 shares outstanding | 40 | 40 |
Additional paid-in capital | 106,834 | 106,729 |
Accumulated deficit | (39,394) | (42,902) |
Less: Treasury stock, at cost: 2017 and 2016, 73,741 and 73,641 shares, respectively | (1,179) | (1,177) |
Accumulated other comprehensive gain (loss) | 9 | (120) |
Total shareholders' equity | 66,310 | 62,570 |
Total liabilities and shareholders' equity | $ 826,731 | $ 756,654 |
Consolidated Balance Sheets (C3
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Net of allowance for loan losses | $ 6,222 | $ 4,675 |
Preferred stock, par value (in dollars per share) | $ 0 | $ 0 |
Preferred stock, shares authorized (in shares) | 1,000,000 | 1,000,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 100,000,000 | 100,000,000 |
Common stock, shares issued (in shares) | 3,969,461 | 3,965,538 |
Common stock, shares outstanding (in shares) | 3,895,720 | 3,891,897 |
Treasury stock, shares held (in shares) | 73,741 | 73,641 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Interest and Dividend Income | ||||
Interest and fees on loans | $ 8,522,000 | $ 6,188,000 | $ 22,720,000 | $ 17,811,000 |
Interest on investment securities | 275,000 | 131,000 | 688,000 | 405,000 |
Dividends on investment securities | 105,000 | 88,000 | 280,000 | 264,000 |
Other interest income | 65,000 | 25,000 | 148,000 | 94,000 |
Total interest and dividend income | 8,967,000 | 6,432,000 | 23,836,000 | 18,574,000 |
Interest Expense | ||||
Interest on deposits | 1,339,000 | 549,000 | 3,457,000 | 1,518,000 |
Interest on Federal Home Loan Bank borrowings | 248,000 | 73,000 | 509,000 | 258,000 |
Interest on senior debt | 229,000 | 0 | 686,000 | |
Interest on subordinated debt | 92,000 | 85,000 | 266,000 | 250,000 |
Interest on note payable | 7,000 | 9,000 | 24,000 | 25,000 |
Total interest expense | 1,915,000 | 716,000 | 4,942,000 | 2,051,000 |
Net interest income | 7,052,000 | 5,716,000 | 18,894,000 | 16,523,000 |
Provision (Credit) for Loan Losses | 545,000 | 355,000 | (944,000) | 2,314,000 |
Net interest income after provision (credit) for loan losses | 6,507,000 | 5,361,000 | 19,838,000 | 14,209,000 |
Non-interest Income | ||||
Loan application, inspection and processing fees | 25,000 | 64,000 | 61,000 | 152,000 |
Deposit fees and service charges | 149,000 | 150,000 | 444,000 | 451,000 |
Rental Income | 117,000 | 104,000 | 302,000 | 311,000 |
Loss on sale of investment securities | 0 | 0 | (78,000) | 0 |
Other income | 95,000 | 94,000 | 283,000 | 273,000 |
Total non-interest income | 386,000 | 412,000 | 1,012,000 | 1,187,000 |
Non-interest Expense | ||||
Salaries and benefits | 2,741,000 | 2,169,000 | 7,668,000 | 7,334,000 |
Occupancy and equipment expense | 796,000 | 783,000 | 2,378,000 | 2,313,000 |
Data processing expense | 340,000 | 288,000 | 786,000 | 814,000 |
Professional and other outside services | 449,000 | 409,000 | 1,651,000 | 1,182,000 |
Advertising and promotional expense | 81,000 | 128,000 | 266,000 | 341,000 |
Loan administration and processing expense | 22,000 | 14,000 | 45,000 | 30,000 |
Regulatory assessments | 230,000 | 159,000 | 572,000 | 453,000 |
Insurance expense | 66,000 | 57,000 | 181,000 | 168,000 |
Material and communications | 97,000 | 106,000 | 287,000 | 314,000 |
Other operating expense | 400,000 | 328,000 | 1,096,000 | 992,000 |
Total non-interest expense | 5,222,000 | 4,441,000 | 14,930,000 | 13,941,000 |
Income before income taxes | 1,671,000 | 1,332,000 | 5,920,000 | 1,455,000 |
Expense for Income Taxes | 658,000 | 518,000 | 2,373,000 | 570,000 |
Net income | $ 1,013,000 | $ 814,000 | $ 3,547,000 | $ 885,000 |
Basic earnings per common share (in dollars per share) | $ 0.26 | $ 0.21 | $ 0.91 | $ 0.22 |
Diluted earnings per common share (in dollars per share) | $ 0.26 | $ 0.21 | $ 0.91 | $ 0.22 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Net income | $ 1,013 | $ 814 | $ 3,547 | $ 885 |
Unrealized holding gains on securities | 2 | 71 | 289 | 186 |
Income tax effect | (1) | (28) | (112) | (72) |
Reclassification for realized losses on sale of investment securities | (78) | |||
Income tax effect | 30 | |||
Total other comprehensive income | 1 | 43 | 129 | 114 |
Comprehensive income | $ 1,014 | $ 857 | $ 3,676 | $ 999 |
Consolidated Statements of Shar
Consolidated Statements of Shareholders' Equity (Unaudited) - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Treasury Stock [Member] | AOCI Attributable to Parent [Member] | Total |
Balance (in shares) at Dec. 31, 2015 | 3,956,207 | |||||
Balance at Dec. 31, 2015 | $ 40 | $ 106,568 | $ (44,832) | $ (160) | $ (152) | $ 61,464 |
Comprehensive income: | ||||||
Net income | 885 | 885 | ||||
Other comprehensive income | 114 | 114 | ||||
Total comprehensive income | 885 | 114 | 999 | |||
Purchase of treasury stock (in shares) | (518) | |||||
Purchase of treasury stock | (7) | (7) | ||||
Share-based compensation expense | 126 | 126 | ||||
Vesting of restricted stock (in shares) | 4,214 | |||||
Balance (in shares) at Dec. 31, 2015 | 3,956,207 | |||||
Balance at Dec. 31, 2015 | $ 40 | 106,568 | (44,832) | (160) | (152) | 61,464 |
Balance (in shares) at Sep. 30, 2016 | 3,959,903 | |||||
Balance at Sep. 30, 2016 | $ 40 | 106,694 | (43,947) | (167) | (38) | 62,582 |
Balance (in shares) at Dec. 31, 2016 | 3,891,897 | |||||
Balance at Dec. 31, 2016 | $ 40 | 106,729 | (42,902) | (1,177) | (120) | 62,570 |
Comprehensive income: | ||||||
Net income | 3,547 | 3,547 | ||||
Other comprehensive income | 129 | 129 | ||||
Total comprehensive income | 3,547 | 129 | 3,676 | |||
Purchase of treasury stock (in shares) | (100) | |||||
Purchase of treasury stock | (2) | (2) | ||||
Common stock dividends | (39) | (39) | ||||
Share-based compensation expense | 105 | 105 | ||||
Vesting of restricted stock (in shares) | 3,923 | |||||
Balance (in shares) at Dec. 31, 2016 | 3,891,897 | |||||
Balance at Dec. 31, 2016 | $ 40 | 106,729 | (42,902) | (1,177) | (120) | 62,570 |
Balance (in shares) at Sep. 30, 2017 | 3,895,720 | |||||
Balance at Sep. 30, 2017 | $ 40 | $ 106,834 | $ (39,394) | $ (1,179) | $ 9 | $ 66,310 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 9 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | |
Cash Flows from Operating Activities: | ||
Net income | $ 3,547,000 | $ 885,000 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Amortization of investment premiums, net | 66,000 | 97,000 |
Amortization and accretion of purchase loan premiums and discounts, net to loans | 476,000 | 118,000 |
Amortization of debt issuance costs | 62,000 | 5,000 |
(Credit) provision for loan losses | (944,000) | 2,314,000 |
Depreciation and amortization | 926,000 | 920,000 |
Loss on sales of available-for-sale securities | 78,000 | 0 |
Share-based compensation | 105,000 | 126,000 |
Deferred income taxes | 1,864,000 | 351,000 |
Gain on acquisition of OREO | (11,000) | |
Changes in assets and liabilities: | ||
Increase in accrued interest and dividends receivable | (775,000) | (298,000) |
Increase in other assets | (4,000) | (426,000) |
Decrease in accrued expenses and other liabilities | (796,000) | (40,000) |
Net cash provided by operating activities | 4,605,000 | 4,041,000 |
Cash Flows from Investing Activities: | ||
Proceeds from sales on available-for-sale securities | 13,846,000 | 5,000,000 |
Principal repayments on available-for-sale securities | 1,639,000 | 2,092,000 |
Purchases of available-for-sale securities | (20,576,000) | (1,000,000) |
Purchases of Federal Reserve Bank stock | (351,000) | |
(Purchases) redemptions of Federal Home Loan Bank stock | (744,000) | 827,000 |
Increase in net originations of loans receivable | (53,424,000) | (57,991,000) |
Purchase of loan pools receivable | (73,022,000) | (18,976,000) |
Purchase of premises and equipment | (2,880,000) | (2,349,000) |
Net cash used in investing activities | (135,512,000) | (72,397,000) |
Cash Flows from Financing Activities: | ||
Increase in deposits, net | 76,090,000 | 26,505,000 |
(Repayments of) increase in FHLB and correspondent bank borrowings | (8,000,000) | 3,000,000 |
Principal repayments of note payable | (142,000) | (139,000) |
Decrease in advances from borrowers for taxes and insurance | (877,000) | (889,000) |
Purchases of treasury stock | (2,000) | (7,000) |
Dividends paid on common stock | (39,000) | 0 |
Net cash provided by financing activities | 67,030,000 | 28,470,000 |
Net decrease in cash and cash equivalents | (63,877,000) | (39,886,000) |
Cash and cash equivalents at beginning of period | 92,289,000 | 85,400,000 |
Cash and cash equivalents at end of period | 28,412,000 | 45,514,000 |
Supplemental Disclosures of Cash Flow Information: | ||
Cash paid for interest | 4,467,000 | 2,398,000 |
Cash paid for income taxes | 475,000 | 253,000 |
Supplemental Disclosures of Noncash Investing Activities: | ||
Transfers of loans receivable to other real estate owned | $ 840,000 |
Note 1 - Basis of Financial Sta
Note 1 - Basis of Financial Statement Presentation | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Basis of Accounting [Text Block] | Note 1: Basis of Financial Statement Presentation The accompanying unaudited condensed consolidated financial statements of Patriot National Bancorp, Inc. (the “Company”) and its wholly-owned subsidiaries including Patriot Bank , N.A. (the “Bank”) (collectively, “Patriot”), have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) have been omitted. The accompanying unaudited interim condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included on the Form 10 December 31, 2016. The Consolidated Balance Sheet at December 31, 2016 not The preparation of consolidated financial statements in accordance with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, and to disclose contingent assets and liabilities. Actual results could differ from those estimates. Management has identified accounting for the allowance for loan losses, the analysis and valuation of its investment securities, and the valuation of deferred tax assets as certain of Patriot ’s more significant accounting policies and estimates, in that they are critical to the presentation of Patriot’s financial condition and results of operations. As they concern matters that are inherently uncertain, these estimates require management to make subjective and complex judgments in the preparation of Patriot’s Consolidated Financial Statements. Certain prior period amounts have been reclassified to conform to current year presentation. The information furnished reflects, in the opinion of management, all normal recurring adjustments necessary for a fair presentation of the results for the interim periods presented. The results of operations for the three nine September 30, 2017 not may 2017. |
Note 2 - Available-for-sale Sec
Note 2 - Available-for-sale Securities | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | Note 2: Available-for Sale Securities The amortized cost , gross unrealized gains and losses and approximate fair values of available-for-sale securities at September 30, 2017 December 31, 2016 (In thousands) Amortized Cost Gross Unrealized Gross Unrealized Fair Value September 30, 2017: U. S. Government agency mortgage-backed securities $ 8,071 34 (69 ) 8,036 Corporate bonds 14,000 - (95 ) 13,905 Subordinated notes 7,500 145 - 7,645 $ 29,571 179 (164 ) 29,586 December 31, 2016: U. S. Government agency mortgage-backed securities $ 10,624 9 (192 ) 10,441 Corporate bonds 9,000 - (39 ) 8,961 Subordinated notes 5,000 26 - 5,026 $ 24,624 35 (231 ) 24,428 The following table presents the available-for-sale securities’ gross unrealized losses and fair value, aggregated by the length of time the individual securities have been in a continuous loss position as of September 30, 2017 December 31, 2016: (In thousands) Less than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized September 30, 2017: U. S. Government agency mortgage-backed securities $ 626 (2 ) 3,329 (67 ) 3,955 (69 ) Corporate bonds 13,905 (95 ) - - 13,905 (95 ) $ 14,531 (97 ) 3,329 (67 ) 17,860 (164 ) December 31, 2016: U. S. Government agency mortgage-backed securities $ 5,969 (144 ) 3,356 (48 ) 9,325 (192 ) Corporate bonds - - 5,961 (39 ) 5,961 (39 ) $ 5,969 (144 ) 9,317 (87 ) 15,286 (231 ) At September 30, 2017 December 31, 2016, eight thirteen seven twelve 0.9% 1.5% Based on its quarterly reviews, management believes that none not not not none September 30, 2017. At September 30, 2017 December 31, 2016, $5.0 $4.2 The following summarizes, by class and contractual maturity, the amortized cost and estimated fair value of available-for-sale debt securities held at September 30, 2017 December 31, 2016. not may (In thousands) Amortized Cost Fair Value Due Within Due After 5 years Due After Total Due Within Due After 5 years Due After Total September 30, 2017: Corporate bonds $ - 9,000 5,000 14,000 - 8,954 4,951 13,905 Subordinated Notes 1,000 6,500 - 7,500 1,019 6,626 - 7,645 Available-for-sale securities with single maturity dates 1,000 15,500 5,000 21,500 1,019 15,580 4,951 21,550 U. S. Government agency mortgage-backed securities - 940 7,131 8,071 - 920 7,116 8,036 $ 1,000 16,440 12,131 29,571 1,019 16,500 12,067 29,586 December 31, 2016: Corporate bonds $ 9,000 - - 9,000 8,961 - - 8,961 Subordinated Notes 1,000 4,000 - 5,000 1,026 4,000 - 5,026 Available-for-sale securities with single maturity dates 10,000 4,000 - 14,000 9,987 4,000 - 13,987 U. S. Government agency mortgage-backed securities - 2,132 8,492 10,624 - 2,106 8,335 10,441 $ 10,000 6,132 8,492 24,624 9,987 6,106 8,335 24,428 There were $13.8 20.6 2017. No third September 30, 2017. $78,000 nine September 30, 2017. no three nine September 30, 2016. |
Note 3 - Loans Receivable and A
Note 3 - Loans Receivable and Allowance for Loan Losses | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | Note 3: Loans Receivable and Allowance for Loan Losses As of September 30, 2017 December 31, 2016, (In thousands) Loan portfolio segment: September 30, 2017 December 31, 2016 Commercial Real Estate $ 296,625 271,229 Residential Real Estate 150,664 86,514 Commercial and Industrial 117,673 60,977 Consumer and Other 90,973 101,449 Construction 48,328 53,895 Construction to permanent - CRE 5,855 7,593 Loans receivable, gross 710,118 581,657 Allowance for loan losses (6,222 ) (4,675 ) Loans receivable, net $ 703,896 576,982 Patriot's lending activities are conducted principally in Fairfield and New Haven Counties in Connecticut and Westchester County in New York, and the five first second Patriot has established credit policies applicable to each type of lending activity in which it engages and evaluates the creditworthiness of each borrower. Unless extenuating circumstances exist, Patriot limits the extension of credit on commercial real estate loans to 75% ’s loan origination policy for multi–family residential real estate is limited to 80% 75% may Risk characteristics of the Company ’s portfolio classes include the following: Commercial Real Estate Loans In underwriting commercial real estate loans, Patriot evaluates both the prospective borrower ’s ability to make timely payments on the loan and the value of the property securing the loans. Repayment of such loans may may Residential Real Estate Loans In 2013, may In March 2017, d $73 Commercial and Industrial Loans Patriot ’s commercial and industrial loan portfolio consists primarily of commercial business loans and lines of credit to businesses and professionals. These loans are generally for the financing of accounts receivable, purchases of inventory, purchases of new or used equipment, or for other short- or long-term working capital purposes. These loans are generally secured by business assets, but are also occasionally offered on an unsecured basis. In granting these types of loans, Patriot considers the borrower’s cash flow as the primary source of repayment, supported by the value of collateral, if any, and personal guarantees, as applicable. Repayment of commercial and industrial loans may Consumer and Other Loans Patriot offers individual consumers various forms of credit including installment loans, credit cards, overdraft protection, and reserve lines of credit. Repayments of such loans are generally dependent on the personal income of the borrower, which may not The Company does not Construction Loans Construction loans are of a short-term nature, generally of eighteen may Included in this category are loans to construct single family homes where no may Construction to Permanent – CRE One time close of a construction facility with simultaneous conversion to an amortizing mortgage loan. Construction to permanent loans combine a short term period similar to a construction loan, generally with a variable rate, and a longer term CRE loan typically 20 25 five Close of the construction facility typically occurs when events dictate, such as receipt of a certificate of occupancy and property stabilization, which is defined as cash flow sufficient to support a pre-defined minimum debt coverage ratio and other conditions and covenants particular to the loan. Construction facilities are typically variable rate instruments that, upon conversion to an amortizing mortgage loan, reset to a fixed rate instrument that is the greater of the in-force variable rate plus a predetermined spread over a reference rate (e.g., prime) or a minimum interest rate. Allowance for Loan Losses The following tables summarize the activity in the allowance for loan losses, allocated to segments of the loan portfolio, for the three nine September 30, 2017 2016: (In thousands) Commercial Residential Commercial Consumer Construction Construction Unallocated Total Three months ended September 30, 2017 Allowance for loan losses: June 30, 2017 $ 2,218 1,041 1,453 593 490 73 76 5,944 Charge-offs - - (265 ) (10 ) - - - (275 ) Recoveries 6 - - 2 - - - 8 Provisions (credits) (52 ) 4 685 (327 ) 293 (27 ) (31 ) 545 September 30, 2017 $ 2,172 1,045 1,873 258 783 46 45 6,222 Three months ended September 30, 2016 Allowance for loan losses: June 30, 2016 $ 2,295 647 3,400 531 169 145 22 7,209 Charge-offs - (186 ) (50 ) (2 ) - - - (238 ) Recoveries - 2 - - - - - 2 Provisions (credits) (491 ) 949 352 (329 ) (108 ) (18 ) - 355 September 30, 2016 $ 1,804 1,412 3,702 200 61 127 22 7,328 (In thousands) Commercial Residential Commercial Consumer Construction Construction Unallocated Total Nine months ended September 30, 2017 Allowance for loan losses: December 31, 2016 $ 1,853 534 740 641 712 69 126 4,675 Charge-offs - - (265 ) (23 ) - - - (288 ) Recoveries 8 - 2,769 2 - - - 2,779 Provisions (credits) 311 511 (1,371 ) (362 ) 71 (23 ) (81 ) (944 ) September 30, 2017 $ 2,172 1,045 1,873 258 783 46 45 6,222 Nine months ended September 30, 2016 Allowance for loan losses: December 31, 2015 $ 1,970 740 1,027 677 486 123 219 5,242 Charge-offs - (190 ) (50 ) (4 ) - - - (244 ) Recoveries - 3 12 1 - - - 16 Provisions (credits) (166 ) 859 2,713 (474 ) (425 ) 4 (197 ) 2,314 September 30, 2016 $ 1,804 1,412 3,702 200 61 127 22 7,328 The following tables summarize, by loan portfolio segment, the amount of loans receivable evaluated individually and collectively for impairment as of September 30, 2017 December 31, 2016: (In thousands) Commercial Residential Commercial Consumer Construction Construction Unallocated Total September 30, 2017 Allowance for loan losses: Individually evaluated for impairment $ - - 285 - - - - 285 Collectively evaluated for impairment 2,172 1,045 1,588 258 783 46 45 5,937 Total allowance for loan losses $ 2,172 1,045 1,873 258 783 46 45 6,222 Loans receivable, gross: Individually evaluated for impairment $ 6,081 1,904 285 715 - - - 8,985 Collectively evaluated for impairment 290,544 148,760 117,388 90,258 48,328 5,855 - 701,133 Total loans receivable, gross $ 296,625 150,664 117,673 90,973 48,328 5,855 - 710,118 (In thousands) Commercial Residential Commercial Consumer Construction Construction Unallocated Total December 31, 2016 Allowance for loan losses: Individually evaluated for impairment $ - - 231 - - - - 231 Collectively evaluated for impairment 1,853 534 509 641 712 69 126 4,444 Total allowance for loan losses $ 1,853 534 740 641 712 69 126 4,675 Loans receivable, gross: Individually evaluated for impairment $ 6,267 1,911 231 542 - - - 8,951 Collectively evaluated for impairment 264,962 84,603 60,746 100,907 53,895 7,593 - 572,706 Total loans receivable, gross $ 271,229 86,514 60,977 101,449 53,895 7,593 - 581,657 Patriot monitors the credit quality of its loans receivable on an ongoing basis. Credit quality is monitored by reviewing certain indicators, including loan to value ratios, debt service coverage ratios, and credit scores. Patriot employs a risk rating system as part of the risk assessment of its loan portfolio. At origination, lending officers are required to assign a risk rating to each loan in their portfolio, which is ratified or modified by the Loan Committee to which the loan is submitted for approval. If financial developments occur on a loan in the lending officer ’s portfolio of responsibility, the risk rating is reviewed and adjusted, as applicable. In carrying out its oversight responsibilities, the Loan Committee can adjust a risk rating based on available information. In addition, the risk ratings on all commercial loans over $250,000 Additionally, Patriot retains a third When assigning a risk rating to a loan, management utilizes the Bank’s internal eleven not one ● Sub-standard: An asset is considered “substandard” if it is not not ● Doubtful: Assets classified as “doubtful” have all of the weaknesses inherent in those classified “sub-standard”, with the added characteristic that the weaknesses present make collection or liquidation-in–full improbable, on the basis of currently existing facts, conditions, and values. Charge –offs, to reduce the loan to its recoverable value, generally commence after the loan is classified as “doubtful”. In accordance with Federal Financial Institutions Examination Council published policies establishing uniform criteria for the classification of retail credit based on delinquency status, “Open-end” and “Closed-end” credits are charged off when 180 and120 If an account is classified as “Loss”, the full balance of the loan receivable is charged off, regardless of the potential recovery from a sale of the underlying collateral. Any amount that may In March 2017, recognized in 2016, $2.8 The following table s summarize non-performing (i.e., non-accruing) loans by aging category and status, within the applicable loan portfolio segment as of September 30, 2017 December 31, 2016: (In thousands) Non-accruing Loans 30 - 59 Days 60 - 89 Days 90 Days Total Current Total As of September 30, 2017: Loan portfolio segment: Residential Real Estate: Sub-standard $ - - 1,590 1,590 - 1,590 Commercial and Industrial: Sub-standard - - 286 286 - 286 Consumer and Other Sub-standard - - 175 175 - 175 Total non-accruing loans $ - - 2,051 2,051 - 2,051 As of December 31, 2016: Loan portfolio segment: Residential Real Estate: Sub-standard $ - - 1,590 1,590 - 1,590 Commercial and Industrial: Sub-standard - - 231 231 - 231 Total non-accruing loans $ - - 1,821 1,821 - 1,821 If non-accrual loans had been performing in accordance with the original contractual terms, additional interest income of $ 27,000 $70,000 three nine September 30, 2017, three nine September 30, 2016, $70,000 $266,000 Additionally, certain loans for which the borrower cannot demonstrate sufficient cash flow to continue loan payments in the future and certain troubled debt restructurings (“TDRs”) are placed on non-accrual status. During the three nine September 30, 2017 2016, no The accrual of interest on loans is discontinued at the time the loan is 90 no 180 not six 90 not The following tables summarize performing and non-performing loans receivable by portfolio segment, by aging category, by delinquency status as of September 30, 2017 December 31, 2016. (In thousands) Performing (Accruing) Loans As of September 30, 2017: 30 - 59 Days 60 - 89 Days 90 Days Past Due Total Current Total Non-accruing Loans Loan portfolio segment: Commercial Real Estate: Pass $ 1,300 - - 1,300 277,475 278,775 - 278,775 Special Mention 652 - - 652 12,510 13,162 - 13,162 Substandard - 1,699 - 1,699 2,989 4,688 - 4,688 1,952 1,699 - 3,651 292,974 296,625 - 296,625 Residential Real Estate: Pass 556 364 1,447 2,367 145,170 147,537 - 147,537 Special Mention - - - - 1,537 1,537 - 1,537 Substandard - - - - - - 1,590 1,590 556 364 1,447 2,367 146,707 149,074 1,590 150,664 Commercial and Industrial: Pass 1,799 500 2,500 4,799 112,088 116,887 - 116,887 Substandard - - 500 500 - 500 286 786 1,799 500 3,000 5,299 112,088 117,387 286 117,673 Consumer and Other: Pass - 125 - 125 90,673 90,798 - 90,798 Substandard - - - - - - 175 175 - 125 - 125 90,673 90,798 175 90,973 Construction: Pass - - - - 48,328 48,328 - 48,328 Construction to permanent - CRE: Pass - - - - 5,855 5,855 - 5,855 Total $ 4,307 2,688 4,447 11,442 696,625 708,067 2,051 710,118 Loans receivable, gross: Pass $ 3,655 989 3,947 8,591 679,589 688,180 - 688,180 Special Mention 652 - - 652 14,047 14,699 - 14,699 Substandard - 1,699 500 2,199 2,989 5,188 2,051 7,239 Loans receivable, gross $ 4,307 2,688 4,447 11,442 696,625 708,067 2,051 710,118 (In thousands) Performing (Accruing) Loans As of December 31, 2016: 30 - 59 Days 60 - 89 Days 90 Days Total Current Total Non-accruing Loans Loan portfolio segment: Commercial Real Estate: Pass $ - - - - 265,246 265,246 - 265,246 Special Mention - - - - 4,531 4,531 - 4,531 Substandard - - - - 1,452 1,452 - 1,452 - - - - 271,229 271,229 - 271,229 Residential Real Estate: Pass 131 9 1,449 1,589 83,335 84,924 - 84,924 Substandard - - - - - - 1,590 1,590 131 9 1,449 1,589 83,335 84,924 1,590 86,514 Commercial and Industrial: Pass 47 4 - 51 60,692 60,743 - 60,743 Substandard - - - - 3 3 231 234 47 4 - 51 60,695 60,746 231 60,977 Consumer and Other: Pass 75 - 3 78 101,371 101,449 - 101,449 Construction: Pass - - - - 53,895 53,895 - 53,895 Construction to permanent - CRE: Pass - - - - 7,593 7,593 - 7,593 Total $ 253 13 1,452 1,718 578,118 579,836 1,821 581,657 Loans receivable, gross: Pass $ 253 13 1,452 1,718 572,132 573,850 - 573,850 Special Mention - - - - 4,531 4,531 - 4,531 Substandard - - - - 1,455 1,455 1,821 3,276 Loans receivable, gross $ 253 13 1,452 1,718 578,118 579,836 1,821 581,657 Troubled Debt Restructurings (“TDR”) On a case-by-case basis, Patriot may may There were no no three nine September 30, 2017 2016. September 30, 2017 December 31, 2016, no Substantially all TDR loan modifications involve lowering the monthly payments on such loans through either a reduction in interest rate below the contract rate, an extension of the term of the loan, or a combination of adjusting these two contractual attributes . TDR loan modifications may may six Impaired Loans Impaired loans may As of September 30, 2017 December 31, 2016, $9.0 $8.9 $285,000 $231,000 Loans not no At September 30, 2017 $9.0 12 may may The following summarizes the investment in, outstanding principal balance of, and the related allowance, if any, for impaired loans as of September 30, 2017 December 31, 2016: (In thousands) September 30, 2017 December 31, 2016 Recorded Principal Related Recorded Principal Related With no related allowance recorded: Commercial Real Estate $ 6,081 6,531 - 6,267 6,721 - Residential Real Estate 1,904 1,935 - 1,911 2,915 - Commercial and Industrial - 503 - - - - Consumer and Other 715 809 - 542 631 - Construction - 39 - - - - 8,700 9,817 - 8,720 10,267 - With a related allowance recorded: Commercial Real Estate - - - - - - Residential Real Estate - - - - - - Commercial and Industrial 285 285 285 231 231 231 Consumer and Other - - - - - - Construction - - - - - - 285 285 285 231 231 231 Impaired Loans, Total: Commercial Real Estate 6,081 6,531 - 6,267 6,721 - Residential Real Estate 1,904 1,935 - 1,911 2,915 - Commercial and Industrial 285 788 285 231 231 231 Consumer and Other 715 809 - 542 631 - Construction - 39 - - - - Impaired Loans, Total $ 8,985 10,102 285 8,951 10,498 231 The following tables summarize additional information regarding impaired loans for the three nine September 30, 2017 2016. (In thousands) Three Months Ended September 30, 2017 2016 Average Interest Average Interest With no related allowance recorded: Commercial Real Estate $ 6,111 10 6,428 77 Residential Real Estate 1,903 - 4,787 36 Commercial and Industrial 37 - 148 - Consumer and Other 584 - 272 - 8,635 10 11,635 113 With a related allowance recorded: Commercial Real Estate - - - - Residential Real Estate - - - - Commercial and Industrial 245 - 3,068 - Consumer and Other - - 2 - 245 - 3,070 - Impaired Loans, Total: Commercial Real Estate 6,111 10 6,428 77 Residential Real Estate 1,903 - 4,787 36 Commercial and Industrial 282 - 3,216 - Consumer and Other 584 - 274 - Impaired Loans, Total $ 8,880 10 14,705 113 (In thousands) Nine Months Ended September 30, 2017 2016 Average Interest Average Interest With no related allowance recorded: Commercial Real Estate $ 6,173 159 7,281 236 Residential Real Estate 1,907 5 4,666 98 Commercial and Industrial 46 - 74 - Consumer and Other 558 10 409 9 8,684 174 12,430 343 With a related allowance recorded: Commercial Real Estate - - - - Residential Real Estate - - - - Commercial and Industrial 237 - 2,278 - Consumer and Other - - 2 - 237 - 2,280 - Impaired Loans, Total: Commercial Real Estate 6,173 159 7,281 236 Residential Real Estate 1,907 5 4,666 98 Commercial and Industrial 283 - 2,352 - Consumer and Other 558 10 411 9 Impaired Loans, Total $ 8,921 174 14,710 343 |
Note 4 - Deposits
Note 4 - Deposits | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Deposit Liabilities Disclosures [Text Block] | Note 4 : Deposits The following table presents the balance of deposits held, by category as of September 30, 2017 December 31, 2016. (In thousands) September 30, 2017 December 31, 2016 Non-interest bearing $ 76,875 $ 76,772 Interest bearing: NOW 27,420 29,912 Savings 141,256 131,429 Money market 13,477 15,593 Certificates of deposit, less than $250,000 182,960 160,609 Certificates of deposit, $250,000 or greater 69,415 51,077 Brokered deposits 94,011 63,932 Interest bearing, Total 528,539 452,552 Total Deposits $ 605,414 $ 529,324 |
Note 5 - Share-based Compensati
Note 5 - Share-based Compensation and Employee Benefit Plan | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | Note 5 : Share-Based Compensation and Employee Benefit Plan The Company maintains the Patriot National Bancorp, Inc. 2012 (the “Plan”) to provide an incentive to directors and employees of the Company by the grant of restricted stock awards (“RSA”), options, or phantom stock units. Since 2013, September 30, 2017 December 31, 2016, no The Plan provides for the issuance of u p to 3,000,000 September 30, 2017, 2,887,032 may four five nine September 30, 2017, 5,084 zero nine September 30, 2016, 52,200 5,884 three nine September 30, 2017, 1,692 3,923 600 6,600 The Company recognizes compensation expense for all director and employee share-based compensation awards on a straight-line basis over the requisite service period, which is equal to the vesting schedule of each award, for each vesting portion of an award equal to its grant date fair value. For the three nine September 30, 2017, $37,000 $105,000, $16,000 $48,000, For the three months ended September 30, 2016, $182,000, $126,000, nine September 30, 2016. $198,000 $80,000 three nine September 30, 2016, third 2016. Included in share-based compensation expense for the three nine September 30, 2017 21,000 $57,000 $80,000 $226,000 The share-based compensation expense for the three nine September 30, 2016 $16,000 $46,000 $75,000 $227,000 The following is a summary of the status of the Company ’s restricted shares as of September 30, 2017 2016 Three months ended September 30, 2017: Number of Weighted Average Grant Date Unvested at June 30, 2017 32,117 $ 12.39 Vested (1,692 ) $ 16.80 Forfeited (600 ) $ 15.50 Unvested at September 30, 2017 29,825 $ 12.08 Nine months ended September 30, 2017: Unvested at December 31, 2016 35,264 $ 12.84 Granted 5,084 $ 15.05 Vested (3,923 ) $ 14.66 Forfeited (6,600 ) $ 15.50 Unvested at September 30, 2017 29,825 $ 12.08 Three months ended September 30, 2016: Number of Weighted Average Grant Date Unvested at June 30, 2016 107,199 $ 14.16 Vested (1,688 ) $ 16.80 Forfeited (65,500 ) $ 14.87 Unvested at September 30, 2016 40,011 $ 12.87 Nine months ended September 30, 2016: Unvested at December 31, 2015 55,854 $ 12.83 Granted 58,084 $ 15.25 Vested (4,214 ) $ 15.55 Forfeited (69,713 ) $ 14.66 Unvested at September 30, 2016 40,011 $ 12.87 Compensation expense attributable to the unvested restricted shares outstanding as of September 30, 2017 321,000, 2.27 RSA Grant - Non-executive Employees On January 4, 2016, 100 of common stock to each of eighty-seven December 31, 2015. 8,700 $15.50 January 2, 2019 During the nine September 30, 2017, 600 nine September 30, 2016, 1,800 6,300 $41,000 January 2019 Retirement Plan The Company offers a 401K “401K” may 401K, 50% six . During the three nine September 30, 2017, 401K $37,000 $132,000, three nine September 30, 2016, 401K $39,000 $120,000, Dividends On July 17, 2017, first $0.01 July 24, 2017 August 1, 2017. nine September 30, 2017, $39,000. No nine September 30, 2016. November 10, 2017 November 9, 2017. |
Note 6 - Earnings Per Share
Note 6 - Earnings Per Share | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | Note 6 : Earnings per share The Company is required to present basic earnings per share and diluted earnings per share in its Consolidated Statements of Income. Basic earnings per share amounts are computed by dividing net income by the weighted average number of common shares outstanding. Diluted earnings per share reflects additional common shares that would have been outstanding if potentially dilutive common shares had been issued, as well as any adjustment to income that would result from the assumed issuance. Potential common shares that may The computation of basic and diluted earnings per share for the three nine September 30, 2017 2016 (Net income in thousands) Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Basic earnings per share: Net income attributable to Common shareholders $ 1,013 814 3,547 885 Divided by: Weighted average shares outstanding 3,894,237 3,958,718 3,893,702 3,957,343 Basic earnings per common share $ 0.26 0.21 0.91 0.22 Diluted earnings per share: Net income attributable to Common shareholders $ 1,013 814 3,547 885 Weighted average shares outstanding 3,894,237 3,958,718 3,893,702 3,957,343 Effect of potentially dilutive restricted common shares 9,193 - 4,854 - Divided by: Weighted average diluted shares outstanding 3,903,430 3,958,718 3,898,556 3,957,343 Diluted earnings per common share $ 0.26 0.21 0.91 0.22 |
Note 7 - Financial Instruments
Note 7 - Financial Instruments With Off-balance Sheet Risk | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Concentration Risk Disclosure [Text Block] | No te 7 : Financial Instruments with Off-Balance Sheet Risk In the normal course of business, Patriot is a party to financial instruments with off-balance-sheet risk to meet the financing needs of its customers. These financial instruments include commitments to extend credit and standby letters of credit and involve, to varying degrees, elements of credit and interest rate risk in excess of the amounts recognized in the balance sheet. The contractual amounts of these instruments reflect the extent of involvement Patriot has in particular classes of financial instruments. The contractual amount of commitments to extend credit and standby letters of credit represent s the maximum amount of potential accounting loss should: the contract be fully drawn upon; the customer default; and the value of any existing collateral becomes worthless. Patriot applies its credit policies to entering commitments and conditional obligations and, as with its lending activates, evaluates each customer’s creditworthiness on a case-by-case basis. Management believes that it effectively mitigates the credit risk of these financial instruments through its credit approval processes, establishing credit limits, monitoring the on-going creditworthiness of recipients and grantees, and the receipt of collateral as deemed necessary. Financial instruments with credit risk at September 30, 2017 (In thousands) As of September 30, 2017 Commitments to extend credit: Unused lines of credit $ 49,464 Undisbursed construction loans 10,433 Home equity lines of credit 20,177 Future loan commitments 21,938 Financial standby letters of credit 1,299 $ 103,311 Commitments to extend credit are agreements to lend to a customer as long as there is no Commitments to extend credit generally have fixed expiration dates or other termination clauses, and may not may $5,000 September 30, 2017, Standby letters of credit are written commitments issued by Patriot to guarantee the performance of a customer to a third not |
Note 8 - Regulatory and Operati
Note 8 - Regulatory and Operational Matters | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | Note 8 : Regulatory and Operational Matters Federal and State regulatory authorities have adopted standards requiring financial institutions to maintain increased levels of capital. Effective January 1, 2015, four ’s risk-based capital ratios consisting of Total Capital, Tier 1 1 “CET1” 1 Capital adequacy is one 10%, 1 8.0%, CET1 6.5%, 1 5.0%. ’s ratios, the OCC may Management continuously assesses the adequacy of the Bank ’s capital in order to maintain its “well capitalized” status. The Company ’s and the Bank’s regulatory capital amounts and ratios at September 30, 2017 December 31, 2016 (In thousands) Patriot National Bancorp, Inc. Patriot Bank, N.A. September 30, 2017 December 31, 2016 September 30, 2017 December 31, 2016 Amount Ratio (%) Amount Ratio (%) Amount Ratio (%) Amount Ratio (%) Total Capital (to risk weighted assets): Actual 74,470 10.222 66,254 10.603 83,558 11.554 74,303 11.928 To be Well Capitalized (1) - - - - 72,320 10.000 62,292 10.000 For capital adequacy with Capital Buffer (2) - - - - 66,896 9.250 53,727 8.625 For capital adequacy 58,280 8.000 49,989 8.000 57,856 8.000 49,834 8.000 Tier 1 Capital (to risk weighted assets): Actual 68,240 9.367 61,571 9.854 77,328 10.692 69,620 11.176 To be Well Capitalized (1) - - - - 57,856 8.000 49,834 8.000 For capital adequacy with Capital Buffer (2) - - - - 52,432 7.250 41,269 6.625 For capital adequacy 43,710 6.000 37,491 6.000 43,392 6.000 37,375 6.000 Common Equity Tier 1 Capital (to risk weighted assets): Actual 60,240 8.269 53,571 8.573 77,328 10.692 69,620 11.176 To be Well Capitalized (1) - - - - 47,008 6.500 40,490 6.500 For capital adequacy with Capital Buffer (2) - - - - 41,584 5.750 31,925 5.125 For capital adequacy 32,783 4.500 28,119 4.500 32,544 4.500 28,031 4.500 Tier 1 Leverage Capital (to average assets): Actual 68,240 8.449 61,571 9.296 77,328 9.574 69,620 10.518 To be Well Capitalized (1) - - - - 40,384 5.000 33,096 5.000 For capital adequacy 32,308 4.000 26,494 4.000 32,308 4.000 26,477 4.000 ( 1 Designation as "Well Capitalized" does not ( 2 The Capital Conservation Buffer implemented by the FDIC began to be phased in beginning January 1, 2016. not not Under the final capital rules that became effective on January 1, 2015, was a requirement for a common equity Tier 1 2.5% not may The capital buffer requirement is being phased in over three 2016. The 0.625% 2016 2016 1.25% 2017, 2017 The capital buffer requirement effectively raises the minimum required Total Capital ratio to 10.5%, 1 8.5% CET1 7.0% January 1, 2019. September 30, 2017, |
Note 9 - Fair Value and Interes
Note 9 - Fair Value and Interest Rate Risk | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 9 : Fair Value and Interest Rate Risk The Company uses fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. A fair value hierarchy has been established that prioritizes the inputs used to measure fair value, requiring entities to maximize the use of observable inputs. Observable inputs reflect market data obtained from independent sources, while unobservable inputs generally require significant management judgment. The three of the fair value hierarchy consist of: Level 1 Unadjusted quoted market prices for identical assets or liabilities in active markets that the entity has the ability to access at the measurement date (such as active exchange-traded equity securities and certain U.S. and government agency debt securities). Level 2 Observable inputs other than quoted prices included in Level 1, – Quoted prices for similar assets or liabilities in active markets (such as U.S. agency and government sponsored mortgage-backed securities) – Quoted prices for identical or similar assets or liabilities in less active markets (such as certain U.S. and government agency debt securities, and corporate and municipal debt securities that trade infrequently) – Other inputs that are observable for substantially the full term of the asset or liability (i.e. interest rates, yield curves, prepayment speeds, default rates, etc.). Level 3 Valuation techniques that require unobservable inputs that are supported by little or no ’s estimates of the assumptions a market participant would use in pricing the asset or liability). A description of the valuation methodologies used for assets and liabilities recorded at fair value, and for estimating fair value for financial and non-financial instrument s not Cash and due from banks, federal funds sold and accrued interest receivable and payable The carrying amount is a reasonable estimate of fair value and accordingly these are classified as Level 1. These financial instruments are not Available-for-Sale Securities The fair value of securities available for sale (carried at fair value) and held to maturity (carried at amortized cost) are determined by obtaining quoted market prices on nationally recognized securities exchanges (Level 1 2 3 Other Investments The Bank ’s investment portfolio includes the Solomon Hess SBA Loan Fund totaling $4.5 not no Federal Reserve Bank Stock and Federal Home Loan Bank Stock Shares in the Federal Reserve Bank (“FRB”) and Federal Home Loan Bank (“FHLB”) are purchased and redeemed based upon their $100 Loans For variable rate loans, which periodically reprice with no The fair value of fixed rate loans is estimated by discounting the future cash flows using the period -end rates, estimated by using local market data, at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities, adjusted for credit losses inherent in the portfolios. Since individual loans do not not 3 does not not OREO The fair value of other OREO the Bank may 2 3 not may Deposits The fair value of demand deposits, regular savings and certain money market deposits is the amount payable on demand at the reporting date. The fair value of certificates of deposit and other time deposits is estimated using a discounted cash flow calculation that applies interest rates currently being offered for deposits of similar remaining maturities, estimated using local market data, to a schedule of aggregated expected maturities on such deposits. The Company does not Senior Notes and Junior Subordinated Debt The senior notes were issued in December 2016 not Junior subordinated debt reprices quarterly , as a result, the carrying amount is considered a reasonable estimate of fair value. The Company does not Federal Home Loan Bank and Correspondent Bank Borrowings T he fair value of FHLB advances is estimated using a discounted cash flow calculation that applies current FHLB interest rates for advances of similar maturity to a schedule of maturities of such advances. The Company does not Off-balance sheet instruments O ff-balance sheet financial instruments are based on interest rate changes and fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements and the counterparties’ credit standing. The Company does not The following table s detail the financial assets measured at fair value on a recurring basis and the valuation techniques utilized relative to the fair value hierarchy, as of September 30, 2017 December 31, 2016: (In thousands) Quoted Prices in Significant Observable Inputs Significant Unobservable Inputs Total September 30, 2017: U. S. Government agency mortgage-backed securities $ - 8,036 - 8,036 Corporate bonds - 13,905 - 13,905 Subordinated notes - 5,610 2,035 7,645 Available-for-sale securities $ - 27,551 2,035 29,586 December 31, 2016: U. S. Government agency mortgage-backed securities $ - 10,441 - 10,441 Corporate bonds - 8,961 - 8,961 Subordinated notes - 3,026 2,000 5,026 Available-for-sale securities $ - 22,428 2,000 24,428 The table below presents the valuation methodology and unobservable inputs for level 3 September 30, 2017 December 31, 2016: (In thousands) Fair Value Valuation Methodology Unobservable Inputs Range of Inputs September 30, 2017: Impaired loans $ 8,985 Real Estate Appraisals Discount for appraisal type 0% - 8% OREO 851 Real Estate Appraisals Discount for appraisal type 21% December 31, 2016: Impaired loans $ 8,951 Real Estate Appraisals Discount for appraisal type 0% - 8% OREO 851 Real Estate Appraisals Discount for appraisal type 21% The Company discloses fair value information about financial instruments, whether or not not necessarily represent the complete underlying value of the financial instruments included in the Consolidated Financial Statements . The estimated fair value amounts have been measured as of September 30, 2017 December 31, 2016 not consolidated financial statements subsequent to those respective dates. As such, the estimated fair values of the financial instruments measured may if they had been subsequently valued . The information presented should not total fair value of the Company’s assets and liabilities, since only a portion of Patriot’s assets and liabilities are liabilities are required to be measured at fair value for financial reporting purposes . Due to the wide range of valuation techniques and the degree of subjectivity used in making the estimates, comparisons between the Company’s disclosures and those of other bank holding companies may not The following table provides a comparison of the carrying amounts and estimated fair values of Patriot’s financial assets and liabilities as of September 30, 2017 December 31, 2016: (In thousands) September 30, 2017 December 31, 2016 Fair Value Carrying Estimated Carrying Estimated Financial Assets: Cash and noninterest bearing balances due from banks Level 1 $ 3,337 3,337 2,596 2,596 Interest-bearing deposits due from banks Level 1 25,075 25,075 89,693 89,693 U. S. Government agency mortgage-backed securities Level 2 8,036 8,036 10,441 10,441 Corporate bonds Level 2 13,905 13,905 8,961 8,961 Subordinated Notes Level 2 5,610 5,610 3,026 3,026 Subordinated Notes Level 3 2,035 2,035 2,000 2,000 Other investments Level 2 4,450 4,450 4,450 4,450 Federal Reserve Bank stock Level 2 2,460 2,460 2,109 2,109 Federal Home Loan Bank stock Level 2 6,353 6,353 5,609 5,609 Loans receivable, net Level 3 703,896 699,764 576,982 576,757 Accrued interest receivable Level 2 3,501 3,501 2,726 2,726 Financial assets, total $ 778,658 774,526 708,593 708,368 Financial Liabilities: Demand deposits Level 2 $ 76,875 76,875 76,772 76,772 Savings deposits Level 2 141,256 141,256 131,429 131,429 Money market deposits Level 2 13,477 13,477 15,593 15,593 NOW accounts Level 2 27,420 27,420 29,912 29,912 Time deposits Level 2 252,375 251,966 211,686 210,321 Brokered deposits Level 1 94,011 93,950 63,932 63,897 FHLB and correspondent bank borrowings Level 2 130,000 130,214 138,000 138,149 Senior notes Level 2 11,684 11,324 11,628 11,628 Subordinated debentures Level 2 8,085 8,085 8,079 8,079 Note payable Level 3 1,627 1,466 1,769 1,565 Accrued interest payable Level 2 532 532 118 118 Financial liabilities, total $ 757,342 756,565 688,918 687,463 The carrying amount of cash and noninterest bearing balances due from banks, interest-bearing deposits due from banks, and demand deposits approximates fair value, due to the short-term nature and high turnover of these balances. These amounts are included in the table above for informational purposes. In the normal course of its operatio ns, the Company assumes interest rate risk (the risk that general interest rate levels will change). As a result, the fair values of the Company’s financial assets and liabilities are affected when interest market rates change, which change may . Management attempts to mitigate interest rate risk by matching the maturities of its financial assets and liabilities. However, borrowers with fixed rate obligations are less likely to prepay their obligations in a rising interest rate environment and more likely to prepay their obligations in a falling interest rate environment. Conversely, depositors receiving fixed rates are more likely to withdraw funds before maturity in a rising interest rate environment and less likely to do so in a falling interest rate environment. Management monitors market rates of interest and maturities of its financial assets and liabilities, adjusting the terms of new loans and deposits in an attempt to minimize interest rate risk. Additionally, management mitigates its overall interest rate risk through its available funds investment strategy . Off-balance sheet instruments Loan commitments on which the committed interest rate is less than the current market rate were insignificant at September 30, 2017 December 31, 2016. September 30, 2017 December 31, 2016 |
Note 10 - Pending Merger and Ac
Note 10 - Pending Merger and Acquisition | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | Note 10: Pending Merger and Acquisition On August 1, 2017, 115% ’s tangible book value as of the closing date which is anticipated to be in the fourth 2017. The acquisition will enable Patriot to expand its consumer and small business relationships, lending operations, and community presence, all of which will improve key operating metrics. This transaction was approved by the shareholders of Prime Bank on October 17, 2017 Patriot is still evaluating the estimated fair values of the assets to be acquired and the liabilities to be assumed. Accordingly, the amount of any goodwill and other intangible assets to be recognized in the connection with this transaction, as well as acquisition costs incurred and expected to be incurred, are also yet to be determined. The Company incurred $39,000 nine September 30, 2017. $500,000 The effect of the merger is expected to be reflected in Patriot ’s results beginning with the fourth 2017. |
Note 11 - Recent Accounting Pro
Note 11 - Recent Accounting Pronouncements | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | Note 1 1 : Recent Accounting Pronouncements Recently Issued Accounting Standards Updates ASU 2014 09 In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014 09, Revenue from Contracts with Customers During 2016, 2016 08 Revenue from C ontracts with C ustomers : Principle versus Agent Considerations ; 2016 10, Revenue from Contracts with Customers : Identifying Performance Obligations and Licensing 2016 12 Revenue from Contracts with Customers : Narrow-Scope Improvements and Practical Expedients. July 2015, December 15, 2017 , including interim periods within that reporting period. Early adoption is permitted for annual reporting periods beginning after December 15, 2016, not may may 2014 09 not may ASU 2016 01 In January 2016, 2016 01, Financial Instruments - Overall 2016 01 excluding equity investments that are consolidated or accounted for under the equity method of accounting, to be measured at fair value with changes in fair value recognized in net income. The ASU simplifies the impairment assessment of equity investments without readily determinable fair values by requiring a qualitative assessment to identify impairment, and a measurement of the investment at fair value only when impairment is qualitatively identified to exist. The standard is effective for fiscal years beginning after December 15, 2017, not Management is currently assessing the potential impact ASU 2016 01 not ASU 2016 02 In February 2016, No. 2016 02, Leases. December 15, 2018, Management is currently evaluating the impact of the new standard on its Consolidated Financial Statements. ASU 2016 13 In June 2016, 2016 13, Financial Instruments-Credit Losses: Measurement of Credit Losses on Financial Instruments. measured at amortized cost to a current expected loss (“CECL”) model. Under the CECL model, entities will estimate credit losses over the entire contractual term of a financial instrument from the date of initial recognition of the instrument. The ASU also changes the existing impairment model for available-for-sale debt securities. In cases where there is neither the intent nor a more-likely-than- not 2016 13 2016 13 December 15, 2019, December 15, 2018. Management is currently evaluating the impact that the standard will have on its Consolidated Financial Statements. ASU 2016 15 In August 2016, 2016 15, Statement of Cash Flows : Classification of Certain Cash Receipts and Cash Payments . 2016 15 may 2016 15 December 15, 2017, Management is currently evaluating the impact that the standard will have on its Consolidated Financial Statements. ASU 2016 18 In November 2016, 2016 18, Statement of Cash Flows: Restricted Cash. The purpose of the standard is to improve consistency and comparability among companies with respect to the reporting of changes in restricted cash and cash equivalents on the Statement of Cash Flows. The ASU requires the Statement of Cash Flows to include all changes in total cash and cash equivalents, including restricted amounts, and to the extent restricted cash and cash equivalents are presented in separate line items on the Balance Sheet, disclosure reconciling the change in total cash and cash equivalents to the amounts shown on the Balance Sheet are required. ASU 2016 18 December 15, 2017, September 30, 2017 December 31, 2016, not not 2016 18, ASU 2017 08 In March 2017, 2017 08, Premium Amortization on Purchased Callable Debt Securities December 15, 2018. December 15, 2019, December 15, 2020. not 2017 08 ASU 2017 09 In May 2017, 2017 09, Scope of Modification Accounting 718 December 15, 2017. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2017 | |
Accounting Policies [Abstract] | |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Issued Accounting Standards Updates ASU 2014 09 In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014 09, Revenue from Contracts with Customers During 2016, 2016 08 Revenue from C ontracts with C ustomers : Principle versus Agent Considerations ; 2016 10, Revenue from Contracts with Customers : Identifying Performance Obligations and Licensing 2016 12 Revenue from Contracts with Customers : Narrow-Scope Improvements and Practical Expedients. July 2015, December 15, 2017 , including interim periods within that reporting period. Early adoption is permitted for annual reporting periods beginning after December 15, 2016, not may may 2014 09 not may ASU 2016 01 In January 2016, 2016 01, Financial Instruments - Overall 2016 01 excluding equity investments that are consolidated or accounted for under the equity method of accounting, to be measured at fair value with changes in fair value recognized in net income. The ASU simplifies the impairment assessment of equity investments without readily determinable fair values by requiring a qualitative assessment to identify impairment, and a measurement of the investment at fair value only when impairment is qualitatively identified to exist. The standard is effective for fiscal years beginning after December 15, 2017, not Management is currently assessing the potential impact ASU 2016 01 not ASU 2016 02 In February 2016, No. 2016 02, Leases. December 15, 2018, Management is currently evaluating the impact of the new standard on its Consolidated Financial Statements. ASU 2016 13 In June 2016, 2016 13, Financial Instruments-Credit Losses: Measurement of Credit Losses on Financial Instruments. measured at amortized cost to a current expected loss (“CECL”) model. Under the CECL model, entities will estimate credit losses over the entire contractual term of a financial instrument from the date of initial recognition of the instrument. The ASU also changes the existing impairment model for available-for-sale debt securities. In cases where there is neither the intent nor a more-likely-than- not 2016 13 2016 13 December 15, 2019, December 15, 2018. Management is currently evaluating the impact that the standard will have on its Consolidated Financial Statements. ASU 2016 15 In August 2016, 2016 15, Statement of Cash Flows : Classification of Certain Cash Receipts and Cash Payments . 2016 15 may 2016 15 December 15, 2017, Management is currently evaluating the impact that the standard will have on its Consolidated Financial Statements. ASU 2016 18 In November 2016, 2016 18, Statement of Cash Flows: Restricted Cash. The purpose of the standard is to improve consistency and comparability among companies with respect to the reporting of changes in restricted cash and cash equivalents on the Statement of Cash Flows. The ASU requires the Statement of Cash Flows to include all changes in total cash and cash equivalents, including restricted amounts, and to the extent restricted cash and cash equivalents are presented in separate line items on the Balance Sheet, disclosure reconciling the change in total cash and cash equivalents to the amounts shown on the Balance Sheet are required. ASU 2016 18 December 15, 2017, September 30, 2017 December 31, 2016, not not 2016 18, ASU 2017 08 In March 2017, 2017 08, Premium Amortization on Purchased Callable Debt Securities December 15, 2018. December 15, 2019, December 15, 2020. not 2017 08 ASU 2017 09 In May 2017, 2017 09, Scope of Modification Accounting 718 December 15, 2017. |
Note 2 - Available-for-sale S20
Note 2 - Available-for-sale Securities (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Notes Tables | |
Available-for-sale Securities [Table Text Block] | (In thousands) Amortized Cost Gross Unrealized Gross Unrealized Fair Value September 30, 2017: U. S. Government agency mortgage-backed securities $ 8,071 34 (69 ) 8,036 Corporate bonds 14,000 - (95 ) 13,905 Subordinated notes 7,500 145 - 7,645 $ 29,571 179 (164 ) 29,586 December 31, 2016: U. S. Government agency mortgage-backed securities $ 10,624 9 (192 ) 10,441 Corporate bonds 9,000 - (39 ) 8,961 Subordinated notes 5,000 26 - 5,026 $ 24,624 35 (231 ) 24,428 |
Schedule of Unrealized Loss on Investments [Table Text Block] | (In thousands) Less than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized September 30, 2017: U. S. Government agency mortgage-backed securities $ 626 (2 ) 3,329 (67 ) 3,955 (69 ) Corporate bonds 13,905 (95 ) - - 13,905 (95 ) $ 14,531 (97 ) 3,329 (67 ) 17,860 (164 ) December 31, 2016: U. S. Government agency mortgage-backed securities $ 5,969 (144 ) 3,356 (48 ) 9,325 (192 ) Corporate bonds - - 5,961 (39 ) 5,961 (39 ) $ 5,969 (144 ) 9,317 (87 ) 15,286 (231 ) |
Investments Classified by Contractual Maturity Date [Table Text Block] | (In thousands) Amortized Cost Fair Value Due Within Due After 5 years Due After Total Due Within Due After 5 years Due After Total September 30, 2017: Corporate bonds $ - 9,000 5,000 14,000 - 8,954 4,951 13,905 Subordinated Notes 1,000 6,500 - 7,500 1,019 6,626 - 7,645 Available-for-sale securities with single maturity dates 1,000 15,500 5,000 21,500 1,019 15,580 4,951 21,550 U. S. Government agency mortgage-backed securities - 940 7,131 8,071 - 920 7,116 8,036 $ 1,000 16,440 12,131 29,571 1,019 16,500 12,067 29,586 December 31, 2016: Corporate bonds $ 9,000 - - 9,000 8,961 - - 8,961 Subordinated Notes 1,000 4,000 - 5,000 1,026 4,000 - 5,026 Available-for-sale securities with single maturity dates 10,000 4,000 - 14,000 9,987 4,000 - 13,987 U. S. Government agency mortgage-backed securities - 2,132 8,492 10,624 - 2,106 8,335 10,441 $ 10,000 6,132 8,492 24,624 9,987 6,106 8,335 24,428 |
Note 3 - Loans Receivable and21
Note 3 - Loans Receivable and Allowance for Loan Losses (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | (In thousands) Loan portfolio segment: September 30, 2017 December 31, 2016 Commercial Real Estate $ 296,625 271,229 Residential Real Estate 150,664 86,514 Commercial and Industrial 117,673 60,977 Consumer and Other 90,973 101,449 Construction 48,328 53,895 Construction to permanent - CRE 5,855 7,593 Loans receivable, gross 710,118 581,657 Allowance for loan losses (6,222 ) (4,675 ) Loans receivable, net $ 703,896 576,982 |
Allowance for Credit Losses on Financing Receivables [Table Text Block] | (In thousands) Commercial Residential Commercial Consumer Construction Construction Unallocated Total Three months ended September 30, 2017 Allowance for loan losses: June 30, 2017 $ 2,218 1,041 1,453 593 490 73 76 5,944 Charge-offs - - (265 ) (10 ) - - - (275 ) Recoveries 6 - - 2 - - - 8 Provisions (credits) (52 ) 4 685 (327 ) 293 (27 ) (31 ) 545 September 30, 2017 $ 2,172 1,045 1,873 258 783 46 45 6,222 Three months ended September 30, 2016 Allowance for loan losses: June 30, 2016 $ 2,295 647 3,400 531 169 145 22 7,209 Charge-offs - (186 ) (50 ) (2 ) - - - (238 ) Recoveries - 2 - - - - - 2 Provisions (credits) (491 ) 949 352 (329 ) (108 ) (18 ) - 355 September 30, 2016 $ 1,804 1,412 3,702 200 61 127 22 7,328 (In thousands) Commercial Residential Commercial Consumer Construction Construction Unallocated Total Nine months ended September 30, 2017 Allowance for loan losses: December 31, 2016 $ 1,853 534 740 641 712 69 126 4,675 Charge-offs - - (265 ) (23 ) - - - (288 ) Recoveries 8 - 2,769 2 - - - 2,779 Provisions (credits) 311 511 (1,371 ) (362 ) 71 (23 ) (81 ) (944 ) September 30, 2017 $ 2,172 1,045 1,873 258 783 46 45 6,222 Nine months ended September 30, 2016 Allowance for loan losses: December 31, 2015 $ 1,970 740 1,027 677 486 123 219 5,242 Charge-offs - (190 ) (50 ) (4 ) - - - (244 ) Recoveries - 3 12 1 - - - 16 Provisions (credits) (166 ) 859 2,713 (474 ) (425 ) 4 (197 ) 2,314 September 30, 2016 $ 1,804 1,412 3,702 200 61 127 22 7,328 (In thousands) Commercial Residential Commercial Consumer Construction Construction Unallocated Total September 30, 2017 Allowance for loan losses: Individually evaluated for impairment $ - - 285 - - - - 285 Collectively evaluated for impairment 2,172 1,045 1,588 258 783 46 45 5,937 Total allowance for loan losses $ 2,172 1,045 1,873 258 783 46 45 6,222 Loans receivable, gross: Individually evaluated for impairment $ 6,081 1,904 285 715 - - - 8,985 Collectively evaluated for impairment 290,544 148,760 117,388 90,258 48,328 5,855 - 701,133 Total loans receivable, gross $ 296,625 150,664 117,673 90,973 48,328 5,855 - 710,118 (In thousands) Commercial Residential Commercial Consumer Construction Construction Unallocated Total December 31, 2016 Allowance for loan losses: Individually evaluated for impairment $ - - 231 - - - - 231 Collectively evaluated for impairment 1,853 534 509 641 712 69 126 4,444 Total allowance for loan losses $ 1,853 534 740 641 712 69 126 4,675 Loans receivable, gross: Individually evaluated for impairment $ 6,267 1,911 231 542 - - - 8,951 Collectively evaluated for impairment 264,962 84,603 60,746 100,907 53,895 7,593 - 572,706 Total loans receivable, gross $ 271,229 86,514 60,977 101,449 53,895 7,593 - 581,657 |
Schedule of Financing Receivables, Non Accrual Status [Table Text Block] | (In thousands) Non-accruing Loans 30 - 59 Days 60 - 89 Days 90 Days Total Current Total As of September 30, 2017: Loan portfolio segment: Residential Real Estate: Sub-standard $ - - 1,590 1,590 - 1,590 Commercial and Industrial: Sub-standard - - 286 286 - 286 Consumer and Other Sub-standard - - 175 175 - 175 Total non-accruing loans $ - - 2,051 2,051 - 2,051 As of December 31, 2016: Loan portfolio segment: Residential Real Estate: Sub-standard $ - - 1,590 1,590 - 1,590 Commercial and Industrial: Sub-standard - - 231 231 - 231 Total non-accruing loans $ - - 1,821 1,821 - 1,821 |
Past Due Financing Receivables [Table Text Block] | (In thousands) Performing (Accruing) Loans As of September 30, 2017: 30 - 59 Days 60 - 89 Days 90 Days Past Due Total Current Total Non-accruing Loans Loan portfolio segment: Commercial Real Estate: Pass $ 1,300 - - 1,300 277,475 278,775 - 278,775 Special Mention 652 - - 652 12,510 13,162 - 13,162 Substandard - 1,699 - 1,699 2,989 4,688 - 4,688 1,952 1,699 - 3,651 292,974 296,625 - 296,625 Residential Real Estate: Pass 556 364 1,447 2,367 145,170 147,537 - 147,537 Special Mention - - - - 1,537 1,537 - 1,537 Substandard - - - - - - 1,590 1,590 556 364 1,447 2,367 146,707 149,074 1,590 150,664 Commercial and Industrial: Pass 1,799 500 2,500 4,799 112,088 116,887 - 116,887 Substandard - - 500 500 - 500 286 786 1,799 500 3,000 5,299 112,088 117,387 286 117,673 Consumer and Other: Pass - 125 - 125 90,673 90,798 - 90,798 Substandard - - - - - - 175 175 - 125 - 125 90,673 90,798 175 90,973 Construction: Pass - - - - 48,328 48,328 - 48,328 Construction to permanent - CRE: Pass - - - - 5,855 5,855 - 5,855 Total $ 4,307 2,688 4,447 11,442 696,625 708,067 2,051 710,118 Loans receivable, gross: Pass $ 3,655 989 3,947 8,591 679,589 688,180 - 688,180 Special Mention 652 - - 652 14,047 14,699 - 14,699 Substandard - 1,699 500 2,199 2,989 5,188 2,051 7,239 Loans receivable, gross $ 4,307 2,688 4,447 11,442 696,625 708,067 2,051 710,118 (In thousands) Performing (Accruing) Loans As of December 31, 2016: 30 - 59 Days 60 - 89 Days 90 Days Total Current Total Non-accruing Loans Loan portfolio segment: Commercial Real Estate: Pass $ - - - - 265,246 265,246 - 265,246 Special Mention - - - - 4,531 4,531 - 4,531 Substandard - - - - 1,452 1,452 - 1,452 - - - - 271,229 271,229 - 271,229 Residential Real Estate: Pass 131 9 1,449 1,589 83,335 84,924 - 84,924 Substandard - - - - - - 1,590 1,590 131 9 1,449 1,589 83,335 84,924 1,590 86,514 Commercial and Industrial: Pass 47 4 - 51 60,692 60,743 - 60,743 Substandard - - - - 3 3 231 234 47 4 - 51 60,695 60,746 231 60,977 Consumer and Other: Pass 75 - 3 78 101,371 101,449 - 101,449 Construction: Pass - - - - 53,895 53,895 - 53,895 Construction to permanent - CRE: Pass - - - - 7,593 7,593 - 7,593 Total $ 253 13 1,452 1,718 578,118 579,836 1,821 581,657 Loans receivable, gross: Pass $ 253 13 1,452 1,718 572,132 573,850 - 573,850 Special Mention - - - - 4,531 4,531 - 4,531 Substandard - - - - 1,455 1,455 1,821 3,276 Loans receivable, gross $ 253 13 1,452 1,718 578,118 579,836 1,821 581,657 |
Impaired Financing Receivables [Table Text Block] | (In thousands) September 30, 2017 December 31, 2016 Recorded Principal Related Recorded Principal Related With no related allowance recorded: Commercial Real Estate $ 6,081 6,531 - 6,267 6,721 - Residential Real Estate 1,904 1,935 - 1,911 2,915 - Commercial and Industrial - 503 - - - - Consumer and Other 715 809 - 542 631 - Construction - 39 - - - - 8,700 9,817 - 8,720 10,267 - With a related allowance recorded: Commercial Real Estate - - - - - - Residential Real Estate - - - - - - Commercial and Industrial 285 285 285 231 231 231 Consumer and Other - - - - - - Construction - - - - - - 285 285 285 231 231 231 Impaired Loans, Total: Commercial Real Estate 6,081 6,531 - 6,267 6,721 - Residential Real Estate 1,904 1,935 - 1,911 2,915 - Commercial and Industrial 285 788 285 231 231 231 Consumer and Other 715 809 - 542 631 - Construction - 39 - - - - Impaired Loans, Total $ 8,985 10,102 285 8,951 10,498 231 (In thousands) Three Months Ended September 30, 2017 2016 Average Interest Average Interest With no related allowance recorded: Commercial Real Estate $ 6,111 10 6,428 77 Residential Real Estate 1,903 - 4,787 36 Commercial and Industrial 37 - 148 - Consumer and Other 584 - 272 - 8,635 10 11,635 113 With a related allowance recorded: Commercial Real Estate - - - - Residential Real Estate - - - - Commercial and Industrial 245 - 3,068 - Consumer and Other - - 2 - 245 - 3,070 - Impaired Loans, Total: Commercial Real Estate 6,111 10 6,428 77 Residential Real Estate 1,903 - 4,787 36 Commercial and Industrial 282 - 3,216 - Consumer and Other 584 - 274 - Impaired Loans, Total $ 8,880 10 14,705 113 (In thousands) Nine Months Ended September 30, 2017 2016 Average Interest Average Interest With no related allowance recorded: Commercial Real Estate $ 6,173 159 7,281 236 Residential Real Estate 1,907 5 4,666 98 Commercial and Industrial 46 - 74 - Consumer and Other 558 10 409 9 8,684 174 12,430 343 With a related allowance recorded: Commercial Real Estate - - - - Residential Real Estate - - - - Commercial and Industrial 237 - 2,278 - Consumer and Other - - 2 - 237 - 2,280 - Impaired Loans, Total: Commercial Real Estate 6,173 159 7,281 236 Residential Real Estate 1,907 5 4,666 98 Commercial and Industrial 283 - 2,352 - Consumer and Other 558 10 411 9 Impaired Loans, Total $ 8,921 174 14,710 343 |
Note 4 - Deposits (Tables)
Note 4 - Deposits (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Notes Tables | |
Deposit Liabilities, Type [Table Text Block] | (In thousands) September 30, 2017 December 31, 2016 Non-interest bearing $ 76,875 $ 76,772 Interest bearing: NOW 27,420 29,912 Savings 141,256 131,429 Money market 13,477 15,593 Certificates of deposit, less than $250,000 182,960 160,609 Certificates of deposit, $250,000 or greater 69,415 51,077 Brokered deposits 94,011 63,932 Interest bearing, Total 528,539 452,552 Total Deposits $ 605,414 $ 529,324 |
Note 5 - Share-based Compensa23
Note 5 - Share-based Compensation and Employee Benefit Plan (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Notes Tables | |
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block] | Three months ended September 30, 2017: Number of Weighted Average Grant Date Unvested at June 30, 2017 32,117 $ 12.39 Vested (1,692 ) $ 16.80 Forfeited (600 ) $ 15.50 Unvested at September 30, 2017 29,825 $ 12.08 Nine months ended September 30, 2017: Unvested at December 31, 2016 35,264 $ 12.84 Granted 5,084 $ 15.05 Vested (3,923 ) $ 14.66 Forfeited (6,600 ) $ 15.50 Unvested at September 30, 2017 29,825 $ 12.08 Three months ended September 30, 2016: Number of Weighted Average Grant Date Unvested at June 30, 2016 107,199 $ 14.16 Vested (1,688 ) $ 16.80 Forfeited (65,500 ) $ 14.87 Unvested at September 30, 2016 40,011 $ 12.87 Nine months ended September 30, 2016: Unvested at December 31, 2015 55,854 $ 12.83 Granted 58,084 $ 15.25 Vested (4,214 ) $ 15.55 Forfeited (69,713 ) $ 14.66 Unvested at September 30, 2016 40,011 $ 12.87 |
Note 6 - Earnings Per Share (Ta
Note 6 - Earnings Per Share (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | (Net income in thousands) Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Basic earnings per share: Net income attributable to Common shareholders $ 1,013 814 3,547 885 Divided by: Weighted average shares outstanding 3,894,237 3,958,718 3,893,702 3,957,343 Basic earnings per common share $ 0.26 0.21 0.91 0.22 Diluted earnings per share: Net income attributable to Common shareholders $ 1,013 814 3,547 885 Weighted average shares outstanding 3,894,237 3,958,718 3,893,702 3,957,343 Effect of potentially dilutive restricted common shares 9,193 - 4,854 - Divided by: Weighted average diluted shares outstanding 3,903,430 3,958,718 3,898,556 3,957,343 Diluted earnings per common share $ 0.26 0.21 0.91 0.22 |
Note 7 - Financial Instrument25
Note 7 - Financial Instruments With Off-balance Sheet Risk (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Notes Tables | |
Schedule of Commitment to Extended Credit [Table Text Block] | (In thousands) As of September 30, 2017 Commitments to extend credit: Unused lines of credit $ 49,464 Undisbursed construction loans 10,433 Home equity lines of credit 20,177 Future loan commitments 21,938 Financial standby letters of credit 1,299 $ 103,311 |
Note 8 - Regulatory and Opera26
Note 8 - Regulatory and Operational Matters (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Notes Tables | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | (In thousands) Patriot National Bancorp, Inc. Patriot Bank, N.A. September 30, 2017 December 31, 2016 September 30, 2017 December 31, 2016 Amount Ratio (%) Amount Ratio (%) Amount Ratio (%) Amount Ratio (%) Total Capital (to risk weighted assets): Actual 74,470 10.222 66,254 10.603 83,558 11.554 74,303 11.928 To be Well Capitalized (1) - - - - 72,320 10.000 62,292 10.000 For capital adequacy with Capital Buffer (2) - - - - 66,896 9.250 53,727 8.625 For capital adequacy 58,280 8.000 49,989 8.000 57,856 8.000 49,834 8.000 Tier 1 Capital (to risk weighted assets): Actual 68,240 9.367 61,571 9.854 77,328 10.692 69,620 11.176 To be Well Capitalized (1) - - - - 57,856 8.000 49,834 8.000 For capital adequacy with Capital Buffer (2) - - - - 52,432 7.250 41,269 6.625 For capital adequacy 43,710 6.000 37,491 6.000 43,392 6.000 37,375 6.000 Common Equity Tier 1 Capital (to risk weighted assets): Actual 60,240 8.269 53,571 8.573 77,328 10.692 69,620 11.176 To be Well Capitalized (1) - - - - 47,008 6.500 40,490 6.500 For capital adequacy with Capital Buffer (2) - - - - 41,584 5.750 31,925 5.125 For capital adequacy 32,783 4.500 28,119 4.500 32,544 4.500 28,031 4.500 Tier 1 Leverage Capital (to average assets): Actual 68,240 8.449 61,571 9.296 77,328 9.574 69,620 10.518 To be Well Capitalized (1) - - - - 40,384 5.000 33,096 5.000 For capital adequacy 32,308 4.000 26,494 4.000 32,308 4.000 26,477 4.000 |
Note 9 - Fair Value and Inter27
Note 9 - Fair Value and Interest Rate Risk (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Notes Tables | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | (In thousands) Quoted Prices in Significant Observable Inputs Significant Unobservable Inputs Total September 30, 2017: U. S. Government agency mortgage-backed securities $ - 8,036 - 8,036 Corporate bonds - 13,905 - 13,905 Subordinated notes - 5,610 2,035 7,645 Available-for-sale securities $ - 27,551 2,035 29,586 December 31, 2016: U. S. Government agency mortgage-backed securities $ - 10,441 - 10,441 Corporate bonds - 8,961 - 8,961 Subordinated notes - 3,026 2,000 5,026 Available-for-sale securities $ - 22,428 2,000 24,428 |
Fair Value Inputs, Assets, Quantitative Information [Table Text Block] | (In thousands) Fair Value Valuation Methodology Unobservable Inputs Range of Inputs September 30, 2017: Impaired loans $ 8,985 Real Estate Appraisals Discount for appraisal type 0% - 8% OREO 851 Real Estate Appraisals Discount for appraisal type 21% December 31, 2016: Impaired loans $ 8,951 Real Estate Appraisals Discount for appraisal type 0% - 8% OREO 851 Real Estate Appraisals Discount for appraisal type 21% |
Fair Value, by Balance Sheet Grouping [Table Text Block] | (In thousands) September 30, 2017 December 31, 2016 Fair Value Carrying Estimated Carrying Estimated Financial Assets: Cash and noninterest bearing balances due from banks Level 1 $ 3,337 3,337 2,596 2,596 Interest-bearing deposits due from banks Level 1 25,075 25,075 89,693 89,693 U. S. Government agency mortgage-backed securities Level 2 8,036 8,036 10,441 10,441 Corporate bonds Level 2 13,905 13,905 8,961 8,961 Subordinated Notes Level 2 5,610 5,610 3,026 3,026 Subordinated Notes Level 3 2,035 2,035 2,000 2,000 Other investments Level 2 4,450 4,450 4,450 4,450 Federal Reserve Bank stock Level 2 2,460 2,460 2,109 2,109 Federal Home Loan Bank stock Level 2 6,353 6,353 5,609 5,609 Loans receivable, net Level 3 703,896 699,764 576,982 576,757 Accrued interest receivable Level 2 3,501 3,501 2,726 2,726 Financial assets, total $ 778,658 774,526 708,593 708,368 Financial Liabilities: Demand deposits Level 2 $ 76,875 76,875 76,772 76,772 Savings deposits Level 2 141,256 141,256 131,429 131,429 Money market deposits Level 2 13,477 13,477 15,593 15,593 NOW accounts Level 2 27,420 27,420 29,912 29,912 Time deposits Level 2 252,375 251,966 211,686 210,321 Brokered deposits Level 1 94,011 93,950 63,932 63,897 FHLB and correspondent bank borrowings Level 2 130,000 130,214 138,000 138,149 Senior notes Level 2 11,684 11,324 11,628 11,628 Subordinated debentures Level 2 8,085 8,085 8,079 8,079 Note payable Level 3 1,627 1,466 1,769 1,565 Accrued interest payable Level 2 532 532 118 118 Financial liabilities, total $ 757,342 756,565 688,918 687,463 |
Note 2 - Available-for-sale S28
Note 2 - Available-for-sale Securities (Details Textual) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2017USD ($) | Sep. 30, 2016USD ($) | Sep. 30, 2017USD ($) | Sep. 30, 2016USD ($) | Dec. 31, 2016USD ($) | |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 8 | 8 | 7 | ||
Number of Available-for-sale Securities | 13 | 13 | 12 | ||
Unrealized Holding Losses Depreciation Percentage from Amortized Cost | 0.90% | 0.90% | 1.50% | ||
Other than Temporary Impairment Losses, Investments, Available-for-sale Securities | $ 0 | ||||
Proceeds from Sale of Available-for-sale Securities | 13,846,000 | $ 5,000,000 | |||
Payments to Acquire Available-for-sale Securities | 20,576,000 | 1,000,000 | |||
Available-for-sale Securities, Gross Realized Gain (Loss) | $ 0 | $ 0 | (78,000) | $ 0 | |
Municipal Deposits Securities [Member] | |||||
Available-for-sale Securities Pledged as Collateral | $ 5,000,000 | $ 5,000,000 | $ 4,200,000 |
Note 2 - Available-for-sale S29
Note 2 - Available-for-sale Securities - Investment Securities (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Available-for-sale securities, amortized cost | $ 29,571 | $ 24,624 |
Available-for-sale securities, gross unrealized gains | 179 | 35 |
Available-for-sale securities, gross unrealized losses | (164) | (231) |
Available-for-sale securities, at fair value | 29,586 | 24,428 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Available-for-sale securities, amortized cost | 8,071 | 10,624 |
Available-for-sale securities, gross unrealized gains | 34 | 9 |
Available-for-sale securities, gross unrealized losses | (69) | (192) |
Available-for-sale securities, at fair value | 8,036 | 10,441 |
Corporate Debt Securities [Member] | ||
Available-for-sale securities, amortized cost | 14,000 | 9,000 |
Available-for-sale securities, gross unrealized gains | ||
Available-for-sale securities, gross unrealized losses | (95) | (39) |
Available-for-sale securities, at fair value | 13,905 | 8,961 |
Subordinated Notes [Member] | ||
Available-for-sale securities, amortized cost | 7,500 | 5,000 |
Available-for-sale securities, gross unrealized gains | 145 | 26 |
Available-for-sale securities, gross unrealized losses | ||
Available-for-sale securities, at fair value | $ 7,645 | $ 5,026 |
Note 2 - Available-for-sale S30
Note 2 - Available-for-sale Securities - Investment Securities in a Continuous Loss Position (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Available-for-sale securities in continuous loss position, less than 12 months, fair value | $ 14,531 | $ 5,969 |
Available-for-sale securities in continuous loss position, less than 12 months, unrealized loss | (97) | (144) |
Available-for-sale securities in continuous loss position, 12 months or more, fair value | 3,329 | 9,317 |
Available-for-sale securities in continuous loss position, 12 months or more, unrealized loss | (67) | (87) |
Available-for-sale securities in continuous loss position, fair value | 17,860 | 15,286 |
Available-for-sale securities in continuous loss position, unrealized loss | (164) | (231) |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Available-for-sale securities in continuous loss position, less than 12 months, fair value | 626 | 5,969 |
Available-for-sale securities in continuous loss position, less than 12 months, unrealized loss | (2) | (144) |
Available-for-sale securities in continuous loss position, 12 months or more, fair value | 3,329 | 3,356 |
Available-for-sale securities in continuous loss position, 12 months or more, unrealized loss | (67) | (48) |
Available-for-sale securities in continuous loss position, fair value | 3,955 | 9,325 |
Available-for-sale securities in continuous loss position, unrealized loss | (69) | (192) |
Corporate Debt Securities [Member] | ||
Available-for-sale securities in continuous loss position, less than 12 months, fair value | 13,905 | |
Available-for-sale securities in continuous loss position, less than 12 months, unrealized loss | (95) | |
Available-for-sale securities in continuous loss position, 12 months or more, fair value | 5,961 | |
Available-for-sale securities in continuous loss position, 12 months or more, unrealized loss | (39) | |
Available-for-sale securities in continuous loss position, fair value | 13,905 | 5,961 |
Available-for-sale securities in continuous loss position, unrealized loss | $ (95) | $ (39) |
Note 2 - Available-for-sale S31
Note 2 - Available-for-sale Securities - Investment Debt Securities by Contractual Maturity (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Amortized cost, due within 5 years | $ 1,000 | $ 10,000 |
Amortized cost, due after 5 years through 10 years | 16,440 | 6,132 |
Amortized cost, due after 10 years | 12,131 | 8,492 |
Amortized cost, total | 29,571 | 24,624 |
Fair value, due within 5 years | 1,019 | 9,987 |
Fair value, due after 5 years through 10 years | 16,500 | 6,106 |
Fair value, due after 10 years | 12,067 | 8,335 |
Fair value, total | 29,586 | 24,428 |
Corporate Debt Securities [Member] | ||
Amortized cost, due within 5 years | 9,000 | |
Amortized cost, due after 5 years through 10 years | 9,000 | |
Amortized cost, due after 10 years | 5,000 | |
Amortized cost, total | 14,000 | 9,000 |
Fair value, due within 5 years | 8,961 | |
Fair value, due after 5 years through 10 years | 8,954 | |
Fair value, due after 10 years | 4,951 | |
Fair value, total | 13,905 | 8,961 |
Subordinated Notes [Member] | ||
Amortized cost, due within 5 years | 1,000 | 1,000 |
Amortized cost, due after 5 years through 10 years | 6,500 | 4,000 |
Amortized cost, due after 10 years | ||
Amortized cost, total | 7,500 | 5,000 |
Fair value, due within 5 years | 1,019 | 1,026 |
Fair value, due after 5 years through 10 years | 6,626 | 4,000 |
Fair value, due after 10 years | ||
Fair value, total | 7,645 | 5,026 |
Available-for-sale Securities with Single Maturity Dates [Member] | ||
Amortized cost, due within 5 years | 1,000 | 10,000 |
Amortized cost, due after 5 years through 10 years | 15,500 | 4,000 |
Amortized cost, due after 10 years | 5,000 | |
Amortized cost, total | 21,500 | 14,000 |
Fair value, due within 5 years | 1,019 | 9,987 |
Fair value, due after 5 years through 10 years | 15,580 | 4,000 |
Fair value, due after 10 years | 4,951 | |
Fair value, total | 21,550 | 13,987 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Amortized cost, due within 5 years | ||
Amortized cost, due after 5 years through 10 years | 940 | 2,132 |
Amortized cost, due after 10 years | 7,131 | 8,492 |
Amortized cost, total | 8,071 | 10,624 |
Fair value, due within 5 years | ||
Fair value, due after 5 years through 10 years | 920 | 2,106 |
Fair value, due after 10 years | 7,116 | 8,335 |
Fair value, total | $ 8,036 | $ 10,441 |
Note 3 - Loans Receivable and32
Note 3 - Loans Receivable and Allowance for Loan Losses (Details Textual) | 1 Months Ended | 3 Months Ended | 9 Months Ended | |||
Mar. 31, 2017USD ($) | Sep. 30, 2017USD ($) | Sep. 30, 2016USD ($) | Sep. 30, 2017USD ($) | Sep. 30, 2016USD ($) | Dec. 31, 2016USD ($) | |
Payments to Acquire Loans Receivable | $ 73,022,000 | $ 18,976,000 | ||||
Maximum Period of Credit Extension of Construction Loans | 1 year 180 days | |||||
Loans Receivable, Term to Reset to FHLB Rate | 5 years | |||||
Period for Charged Off of Open-End Credits | 180 days | |||||
Period for Charged Off of Close-End Credits | 120 days | |||||
Loans and Leases Receivable, Impaired, Interest Lost on Nonaccrual Loans | $ 27,000 | $ 70,000 | $ 70,000 | $ 266,000 | ||
Threshold Period Past Due for Write-off of Financing Receivable | 90 days | |||||
Maximum Period for Charged Off of Consumer Installment Loans | 180 days | |||||
Performance Period Under Loan Terms | 180 days | |||||
Financing Receivable, Modifications, Number of Contracts | 0 | 0 | 0 | 0 | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 0 | 0 | 0 | 0 | ||
Loans and Leases Receivable, Impaired, Commitment to Lend | $ 0 | $ 0 | $ 0 | |||
Impaired Financing Receivable, Recorded Investment | 8,985,000 | 8,985,000 | 8,951,000 | |||
Impaired Financing Receivable, Related Allowance | $ 285,000 | $ 285,000 | 231,000 | |||
Number of Impaired Loans | 12 | 12 | ||||
Non-Accrual Loans [Member] | ||||||
Impaired Financing Receivable, Interest Income, Cash Basis Method | $ 0 | $ 0 | $ 0 | $ 0 | ||
Commercial Real Estate Portfolio Segment [Member] | ||||||
Maximum Percentage of Credit Extension Based on Market Value of Collateral | 75.00% | |||||
Impaired Financing Receivable, Recorded Investment | 6,081,000 | $ 6,081,000 | 6,267,000 | |||
Impaired Financing Receivable, Related Allowance | ||||||
Multi-family Real Estate [Member] | ||||||
Maximum Percentage of Credit Extension Based on Market Value of Collateral | 80.00% | |||||
Construction Portfolio Segment [Member] | ||||||
Percentage of Maximum Loan to Value | 75.00% | |||||
Impaired Financing Receivable, Recorded Investment | ||||||
Impaired Financing Receivable, Related Allowance | ||||||
Residential Portfolio Segment [Member] | ||||||
Payments to Acquire Loans Receivable | $ 73,000,000 | |||||
Impaired Financing Receivable, Recorded Investment | 1,904,000 | 1,904,000 | 1,911,000 | |||
Impaired Financing Receivable, Related Allowance | ||||||
Construction to Permanent Portfolio Segment [Member] | Minimum [Member] | ||||||
Loans Receivable, Term | 20 years | |||||
Construction to Permanent Portfolio Segment [Member] | Maximum [Member] | ||||||
Loans Receivable, Term | 25 years | |||||
Commercial Portfolio Segment [Member] | ||||||
Proceeds from Insurance Settlement, Investing Activities | $ 2,800,000 | |||||
Impaired Financing Receivable, Recorded Investment | 285,000 | $ 285,000 | 231,000 | |||
Impaired Financing Receivable, Related Allowance | $ 285,000 | $ 285,000 | $ 231,000 |
Note 3 - Loans Receivable and33
Note 3 - Loans Receivable and Allowance for Loan Losses - Loan Portfolio (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Jun. 30, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Dec. 31, 2015 |
Loans receivable, gross | $ 710,118 | $ 581,657 | ||||
Allowance for loan losses | (6,222) | $ (5,944) | (4,675) | $ (7,328) | $ (7,209) | $ (5,242) |
Loans receivable, net | 703,896 | 576,982 | ||||
Commercial Real Estate Portfolio Segment [Member] | ||||||
Loans receivable, gross | 296,625 | 271,229 | ||||
Allowance for loan losses | (2,172) | (2,218) | (1,853) | (1,804) | (2,295) | (1,970) |
Residential Portfolio Segment [Member] | ||||||
Loans receivable, gross | 150,664 | 86,514 | ||||
Allowance for loan losses | (1,045) | (1,041) | (534) | (1,412) | (647) | (740) |
Commercial Portfolio Segment [Member] | ||||||
Loans receivable, gross | 117,673 | 60,977 | ||||
Allowance for loan losses | (1,873) | (1,453) | (740) | (3,702) | (3,400) | (1,027) |
Consumer Portfolio Segment [Member] | ||||||
Loans receivable, gross | 90,973 | 101,449 | ||||
Allowance for loan losses | (258) | (593) | (641) | (200) | (531) | (677) |
Construction Portfolio Segment [Member] | ||||||
Loans receivable, gross | 48,328 | 53,895 | ||||
Allowance for loan losses | (783) | (490) | (712) | (61) | (169) | (486) |
Construction to Permanent Portfolio Segment [Member] | ||||||
Loans receivable, gross | 5,855 | 7,593 | ||||
Allowance for loan losses | $ (46) | $ (73) | $ (69) | $ (127) | $ (145) | $ (123) |
Note 3 - Loans Receivable and34
Note 3 - Loans Receivable and Allowance for Loan Losses - Allowance for Loan Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Dec. 31, 2016 | |
Balance | $ 5,944 | $ 7,209 | $ 4,675 | $ 5,242 | ||
Charge-offs | (275) | (238) | (288) | (244) | ||
Recoveries | 8 | 2 | 2,779 | 16 | ||
Provisions (credits) | 545 | 355 | (944) | 2,314 | ||
Balance | 6,222 | 7,328 | 6,222 | 7,328 | ||
Allowance for loan losses: Individually evaluated for impairment | $ 285 | $ 231 | ||||
Allowance for loan losses: Collectively evaluated for impairment | 5,937 | 4,444 | ||||
Total allowance for loan losses | 6,222 | 7,209 | 6,222 | 7,328 | 6,222 | 4,675 |
Loans receivable, gross: Individually evaluated for impairment | 8,985 | 8,951 | ||||
Loans receivable, gross: Collectively evaluated for impairment | 701,133 | 572,706 | ||||
Total loans receivable, gross | 710,118 | 581,657 | ||||
Commercial Real Estate Portfolio Segment [Member] | ||||||
Balance | 2,218 | 2,295 | 1,853 | 1,970 | ||
Charge-offs | 0 | 0 | 0 | 0 | ||
Recoveries | 6 | 0 | 8 | 0 | ||
Provisions (credits) | (52) | (491) | 311 | (166) | ||
Balance | 2,172 | 1,804 | 2,172 | 1,804 | ||
Allowance for loan losses: Individually evaluated for impairment | 0 | 0 | ||||
Allowance for loan losses: Collectively evaluated for impairment | 2,172 | 1,853 | ||||
Total allowance for loan losses | 2,218 | 2,295 | 2,172 | 1,804 | 2,172 | 1,853 |
Loans receivable, gross: Individually evaluated for impairment | 6,081 | 6,267 | ||||
Loans receivable, gross: Collectively evaluated for impairment | 290,544 | 264,962 | ||||
Total loans receivable, gross | 296,625 | 271,229 | ||||
Residential Portfolio Segment [Member] | ||||||
Balance | 1,041 | 647 | 534 | 740 | ||
Charge-offs | 0 | (186) | 0 | (190) | ||
Recoveries | 0 | 2 | 0 | 3 | ||
Provisions (credits) | 4 | 949 | 511 | 859 | ||
Balance | 1,045 | 1,412 | 1,045 | 1,412 | ||
Allowance for loan losses: Individually evaluated for impairment | 0 | 0 | ||||
Allowance for loan losses: Collectively evaluated for impairment | 1,045 | 534 | ||||
Total allowance for loan losses | 1,041 | 647 | 1,045 | 1,412 | 1,045 | 534 |
Loans receivable, gross: Individually evaluated for impairment | 1,904 | 1,911 | ||||
Loans receivable, gross: Collectively evaluated for impairment | 148,760 | 84,603 | ||||
Total loans receivable, gross | 150,664 | 86,514 | ||||
Commercial Portfolio Segment [Member] | ||||||
Balance | 1,453 | 3,400 | 740 | 1,027 | ||
Charge-offs | (265) | (50) | (265) | (50) | ||
Recoveries | 0 | 0 | 2,769 | 12 | ||
Provisions (credits) | 685 | 352 | (1,371) | 2,713 | ||
Balance | 1,873 | 3,702 | 1,873 | 3,702 | ||
Allowance for loan losses: Individually evaluated for impairment | 285 | 231 | ||||
Allowance for loan losses: Collectively evaluated for impairment | 1,588 | 509 | ||||
Total allowance for loan losses | 1,453 | 3,400 | 1,873 | 3,702 | 1,873 | 740 |
Loans receivable, gross: Individually evaluated for impairment | 285 | 231 | ||||
Loans receivable, gross: Collectively evaluated for impairment | 117,388 | 60,746 | ||||
Total loans receivable, gross | 117,673 | 60,977 | ||||
Consumer Portfolio Segment [Member] | ||||||
Balance | 593 | 531 | 641 | 677 | ||
Charge-offs | (10) | (2) | (23) | (4) | ||
Recoveries | 2 | 0 | 2 | 1 | ||
Provisions (credits) | (327) | (329) | (362) | (474) | ||
Balance | 258 | 200 | 258 | 200 | ||
Allowance for loan losses: Individually evaluated for impairment | 0 | 0 | ||||
Allowance for loan losses: Collectively evaluated for impairment | 258 | 641 | ||||
Total allowance for loan losses | 593 | 531 | 258 | 200 | 258 | 641 |
Loans receivable, gross: Individually evaluated for impairment | 715 | 542 | ||||
Loans receivable, gross: Collectively evaluated for impairment | 90,258 | 100,907 | ||||
Total loans receivable, gross | 90,973 | 101,449 | ||||
Construction Portfolio Segment [Member] | ||||||
Balance | 490 | 169 | 712 | 486 | ||
Charge-offs | 0 | 0 | 0 | 0 | ||
Recoveries | 0 | 0 | 0 | 0 | ||
Provisions (credits) | 293 | (108) | 71 | (425) | ||
Balance | 783 | 61 | 783 | 61 | ||
Allowance for loan losses: Individually evaluated for impairment | 0 | 0 | ||||
Allowance for loan losses: Collectively evaluated for impairment | 783 | 712 | ||||
Total allowance for loan losses | 490 | 169 | 783 | 61 | 783 | 712 |
Loans receivable, gross: Individually evaluated for impairment | 0 | 0 | ||||
Loans receivable, gross: Collectively evaluated for impairment | 48,328 | 53,895 | ||||
Total loans receivable, gross | 48,328 | 53,895 | ||||
Construction to Permanent Portfolio Segment [Member] | ||||||
Balance | 73 | 145 | 69 | 123 | ||
Charge-offs | 0 | 0 | 0 | 0 | ||
Recoveries | 0 | 0 | 0 | 0 | ||
Provisions (credits) | (27) | (18) | (23) | 4 | ||
Balance | 46 | 127 | 46 | 127 | ||
Allowance for loan losses: Individually evaluated for impairment | 0 | 0 | ||||
Allowance for loan losses: Collectively evaluated for impairment | 46 | 69 | ||||
Total allowance for loan losses | 73 | 145 | 46 | 127 | 46 | 69 |
Loans receivable, gross: Individually evaluated for impairment | 0 | 0 | ||||
Loans receivable, gross: Collectively evaluated for impairment | 5,855 | 7,593 | ||||
Total loans receivable, gross | 5,855 | 7,593 | ||||
Unallocated Financing Receivables [Member] | ||||||
Balance | 76 | 22 | 126 | 219 | ||
Charge-offs | 0 | 0 | 0 | 0 | ||
Recoveries | 0 | 0 | 0 | 0 | ||
Provisions (credits) | (31) | 0 | (81) | (197) | ||
Balance | 45 | 22 | 45 | 22 | ||
Allowance for loan losses: Individually evaluated for impairment | 0 | 0 | ||||
Allowance for loan losses: Collectively evaluated for impairment | 45 | 126 | ||||
Total allowance for loan losses | $ 76 | $ 22 | $ 45 | $ 22 | 45 | 126 |
Loans receivable, gross: Individually evaluated for impairment | 0 | 0 | ||||
Loans receivable, gross: Collectively evaluated for impairment | 0 | 0 | ||||
Total loans receivable, gross | $ 0 | $ 0 |
Note 3 - Loans Receivable and35
Note 3 - Loans Receivable and Allowance for Loan Losses - Non-accrual Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Non-accruing loans | $ 2,051 | $ 1,821 |
Residential Portfolio Segment [Member] | ||
Non-accruing loans | 1,590 | 1,590 |
Commercial Portfolio Segment [Member] | ||
Non-accruing loans | 286 | 231 |
Substandard [Member] | ||
Non-accruing loans | 2,051 | 1,821 |
Substandard [Member] | Residential Portfolio Segment [Member] | ||
Non-accruing loans | 1,590 | 1,590 |
Substandard [Member] | Commercial Portfolio Segment [Member] | ||
Non-accruing loans | 286 | 231 |
Substandard [Member] | Consumer and Other Portfolio Segment [Member] | ||
Non-accruing loans | 175 | |
Substandard [Member] | Non-Accrual Loans [Member] | ||
Performing (accruing) loans, past due | 2,051 | 1,821 |
Performing (accruing) loans, current | 0 | 0 |
Substandard [Member] | Non-Accrual Loans [Member] | Residential Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | 1,590 | 1,590 |
Performing (accruing) loans, current | 0 | 0 |
Substandard [Member] | Non-Accrual Loans [Member] | Commercial Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | 286 | 231 |
Performing (accruing) loans, current | 0 | 0 |
Substandard [Member] | Non-Accrual Loans [Member] | Consumer and Other Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | 175 | |
Performing (accruing) loans, current | 0 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Substandard [Member] | Non-Accrual Loans [Member] | ||
Performing (accruing) loans, past due | 0 | 0 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Substandard [Member] | Non-Accrual Loans [Member] | Residential Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | 0 | 0 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Substandard [Member] | Non-Accrual Loans [Member] | Commercial Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | 0 | 0 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Substandard [Member] | Non-Accrual Loans [Member] | Consumer and Other Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | 0 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Substandard [Member] | Non-Accrual Loans [Member] | ||
Performing (accruing) loans, past due | 0 | 0 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Substandard [Member] | Non-Accrual Loans [Member] | Residential Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | 0 | 0 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Substandard [Member] | Non-Accrual Loans [Member] | Commercial Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | 0 | 0 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Substandard [Member] | Non-Accrual Loans [Member] | Consumer and Other Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | 0 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Substandard [Member] | Non-Accrual Loans [Member] | ||
Performing (accruing) loans, past due | 2,051 | 1,821 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Substandard [Member] | Non-Accrual Loans [Member] | Residential Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | 1,590 | 1,590 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Substandard [Member] | Non-Accrual Loans [Member] | Commercial Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | 286 | $ 231 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Substandard [Member] | Non-Accrual Loans [Member] | Consumer and Other Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | $ 175 |
Note 3 - Loans Receivable and36
Note 3 - Loans Receivable and Allowance for Loan Losses - Delinquency Status of Performing and Non-performing Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Loans receivable, gross | $ 710,118 | $ 581,657 |
Non-accruing loans | 2,051 | 1,821 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loans receivable, gross | 296,625 | 271,229 |
Non-accruing loans | ||
Residential Portfolio Segment [Member] | ||
Loans receivable, gross | 150,664 | 86,514 |
Non-accruing loans | 1,590 | 1,590 |
Commercial Portfolio Segment [Member] | ||
Loans receivable, gross | 117,673 | 60,977 |
Non-accruing loans | 286 | 231 |
Consumer Portfolio Segment [Member] | ||
Loans receivable, gross | 90,973 | 101,449 |
Non-accruing loans | 175 | |
Construction Portfolio Segment [Member] | ||
Loans receivable, gross | 48,328 | 53,895 |
Construction to Permanent Portfolio Segment [Member] | ||
Loans receivable, gross | 5,855 | 7,593 |
Pass [Member] | ||
Loans receivable, gross | 688,180 | 573,850 |
Non-accruing loans | ||
Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Loans receivable, gross | 278,775 | 265,246 |
Non-accruing loans | ||
Pass [Member] | Residential Portfolio Segment [Member] | ||
Loans receivable, gross | 147,537 | 84,924 |
Non-accruing loans | ||
Pass [Member] | Commercial Portfolio Segment [Member] | ||
Loans receivable, gross | 116,887 | 60,743 |
Non-accruing loans | ||
Pass [Member] | Consumer Portfolio Segment [Member] | ||
Loans receivable, gross | 90,798 | 101,449 |
Non-accruing loans | ||
Pass [Member] | Construction Portfolio Segment [Member] | ||
Loans receivable, gross | 48,328 | 53,895 |
Non-accruing loans | ||
Pass [Member] | Construction to Permanent Portfolio Segment [Member] | ||
Loans receivable, gross | 5,855 | 7,593 |
Non-accruing loans | ||
Special Mention [Member] | ||
Loans receivable, gross | 14,699 | 4,531 |
Non-accruing loans | ||
Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Loans receivable, gross | 13,162 | 4,531 |
Non-accruing loans | ||
Special Mention [Member] | Residential Portfolio Segment [Member] | ||
Loans receivable, gross | 1,537 | |
Non-accruing loans | ||
Substandard [Member] | ||
Loans receivable, gross | 7,239 | 3,276 |
Non-accruing loans | 2,051 | 1,821 |
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Loans receivable, gross | 4,688 | 1,452 |
Non-accruing loans | ||
Substandard [Member] | Residential Portfolio Segment [Member] | ||
Loans receivable, gross | 1,590 | 1,590 |
Non-accruing loans | 1,590 | 1,590 |
Substandard [Member] | Commercial Portfolio Segment [Member] | ||
Loans receivable, gross | 786 | 234 |
Non-accruing loans | 286 | 231 |
Substandard [Member] | Consumer Portfolio Segment [Member] | ||
Loans receivable, gross | 175 | |
Non-accruing loans | 175 | |
Performing Financial Instruments [Member] | ||
Performing (accruing) loans, past due | 11,442 | 1,718 |
Performing (accruing) loans, current | 696,625 | 578,118 |
Loans receivable, gross | 708,067 | 579,836 |
Performing Financial Instruments [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | 3,651 | |
Performing (accruing) loans, current | 292,974 | 271,229 |
Loans receivable, gross | 296,625 | 271,229 |
Performing Financial Instruments [Member] | Residential Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | 2,367 | 1,589 |
Performing (accruing) loans, current | 146,707 | 83,335 |
Loans receivable, gross | 149,074 | 84,924 |
Performing Financial Instruments [Member] | Commercial Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | 5,299 | 51 |
Performing (accruing) loans, current | 112,088 | 60,695 |
Loans receivable, gross | 117,387 | 60,746 |
Performing Financial Instruments [Member] | Consumer Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | 125 | |
Performing (accruing) loans, current | 90,673 | |
Loans receivable, gross | 90,798 | |
Performing Financial Instruments [Member] | Pass [Member] | ||
Performing (accruing) loans, past due | 8,591 | 1,718 |
Performing (accruing) loans, current | 679,589 | 572,132 |
Loans receivable, gross | 688,180 | 573,850 |
Performing Financial Instruments [Member] | Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | 1,300 | |
Performing (accruing) loans, current | 277,475 | 265,246 |
Loans receivable, gross | 278,775 | 265,246 |
Performing Financial Instruments [Member] | Pass [Member] | Residential Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | 2,367 | 1,589 |
Performing (accruing) loans, current | 145,170 | 83,335 |
Loans receivable, gross | 147,537 | 84,924 |
Performing Financial Instruments [Member] | Pass [Member] | Commercial Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | 4,799 | 51 |
Performing (accruing) loans, current | 112,088 | 60,692 |
Loans receivable, gross | 116,887 | 60,743 |
Performing Financial Instruments [Member] | Pass [Member] | Consumer Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | 125 | 78 |
Performing (accruing) loans, current | 90,673 | 101,371 |
Loans receivable, gross | 90,798 | 101,449 |
Performing Financial Instruments [Member] | Pass [Member] | Construction Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | ||
Performing (accruing) loans, current | 48,328 | 53,895 |
Loans receivable, gross | 48,328 | 53,895 |
Performing Financial Instruments [Member] | Pass [Member] | Construction to Permanent Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | ||
Performing (accruing) loans, current | 5,855 | 7,593 |
Loans receivable, gross | 5,855 | 7,593 |
Performing Financial Instruments [Member] | Special Mention [Member] | ||
Performing (accruing) loans, past due | 652 | |
Performing (accruing) loans, current | 14,047 | 4,531 |
Loans receivable, gross | 14,699 | 4,531 |
Performing Financial Instruments [Member] | Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | 652 | |
Performing (accruing) loans, current | 12,510 | 4,531 |
Loans receivable, gross | 13,162 | 4,531 |
Performing Financial Instruments [Member] | Special Mention [Member] | Residential Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | ||
Performing (accruing) loans, current | 1,537 | |
Loans receivable, gross | 1,537 | |
Performing Financial Instruments [Member] | Substandard [Member] | ||
Performing (accruing) loans, past due | 2,199 | |
Performing (accruing) loans, current | 2,989 | 1,455 |
Loans receivable, gross | 5,188 | 1,455 |
Performing Financial Instruments [Member] | Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | 1,699 | |
Performing (accruing) loans, current | 2,989 | 1,452 |
Loans receivable, gross | 4,688 | 1,452 |
Performing Financial Instruments [Member] | Substandard [Member] | Residential Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | ||
Performing (accruing) loans, current | ||
Loans receivable, gross | ||
Performing Financial Instruments [Member] | Substandard [Member] | Commercial Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | 500 | |
Performing (accruing) loans, current | 3 | |
Loans receivable, gross | 500 | 3 |
Performing Financial Instruments [Member] | Substandard [Member] | Consumer Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | ||
Performing (accruing) loans, current | ||
Loans receivable, gross | ||
Financing Receivables, 30 to 59 Days Past Due [Member] | Performing Financial Instruments [Member] | ||
Performing (accruing) loans, past due | 4,307 | 253 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Performing Financial Instruments [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | 1,952 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Performing Financial Instruments [Member] | Residential Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | 556 | 131 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Performing Financial Instruments [Member] | Commercial Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | 1,799 | 47 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Performing Financial Instruments [Member] | Consumer Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | ||
Financing Receivables, 30 to 59 Days Past Due [Member] | Performing Financial Instruments [Member] | Pass [Member] | ||
Performing (accruing) loans, past due | 3,655 | 253 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Performing Financial Instruments [Member] | Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | 1,300 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Performing Financial Instruments [Member] | Pass [Member] | Residential Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | 556 | 131 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Performing Financial Instruments [Member] | Pass [Member] | Commercial Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | 1,799 | 47 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Performing Financial Instruments [Member] | Pass [Member] | Consumer Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | 75 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Performing Financial Instruments [Member] | Pass [Member] | Construction Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | ||
Financing Receivables, 30 to 59 Days Past Due [Member] | Performing Financial Instruments [Member] | Pass [Member] | Construction to Permanent Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | ||
Financing Receivables, 30 to 59 Days Past Due [Member] | Performing Financial Instruments [Member] | Special Mention [Member] | ||
Performing (accruing) loans, past due | 652 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Performing Financial Instruments [Member] | Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | 652 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Performing Financial Instruments [Member] | Special Mention [Member] | Residential Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | ||
Financing Receivables, 30 to 59 Days Past Due [Member] | Performing Financial Instruments [Member] | Substandard [Member] | ||
Performing (accruing) loans, past due | ||
Financing Receivables, 30 to 59 Days Past Due [Member] | Performing Financial Instruments [Member] | Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | ||
Financing Receivables, 30 to 59 Days Past Due [Member] | Performing Financial Instruments [Member] | Substandard [Member] | Residential Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | ||
Financing Receivables, 30 to 59 Days Past Due [Member] | Performing Financial Instruments [Member] | Substandard [Member] | Commercial Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | ||
Financing Receivables, 30 to 59 Days Past Due [Member] | Performing Financial Instruments [Member] | Substandard [Member] | Consumer Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | Performing Financial Instruments [Member] | ||
Performing (accruing) loans, past due | 2,688 | 13 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Performing Financial Instruments [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | 1,699 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Performing Financial Instruments [Member] | Residential Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | 364 | 9 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Performing Financial Instruments [Member] | Commercial Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | 500 | 4 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Performing Financial Instruments [Member] | Consumer Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | 125 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Performing Financial Instruments [Member] | Pass [Member] | ||
Performing (accruing) loans, past due | 989 | 13 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Performing Financial Instruments [Member] | Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | Performing Financial Instruments [Member] | Pass [Member] | Residential Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | 364 | 9 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Performing Financial Instruments [Member] | Pass [Member] | Commercial Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | 500 | 4 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Performing Financial Instruments [Member] | Pass [Member] | Consumer Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | 125 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Performing Financial Instruments [Member] | Pass [Member] | Construction Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | Performing Financial Instruments [Member] | Pass [Member] | Construction to Permanent Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | Performing Financial Instruments [Member] | Special Mention [Member] | ||
Performing (accruing) loans, past due | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | Performing Financial Instruments [Member] | Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | Performing Financial Instruments [Member] | Special Mention [Member] | Residential Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | Performing Financial Instruments [Member] | Substandard [Member] | ||
Performing (accruing) loans, past due | 1,699 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Performing Financial Instruments [Member] | Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | 1,699 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Performing Financial Instruments [Member] | Substandard [Member] | Residential Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | Performing Financial Instruments [Member] | Substandard [Member] | Commercial Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | Performing Financial Instruments [Member] | Substandard [Member] | Consumer Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Performing Financial Instruments [Member] | ||
Performing (accruing) loans, past due | 4,447 | 1,452 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Performing Financial Instruments [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Performing Financial Instruments [Member] | Residential Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | 1,447 | 1,449 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Performing Financial Instruments [Member] | Commercial Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | 3,000 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Performing Financial Instruments [Member] | Consumer Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Performing Financial Instruments [Member] | Pass [Member] | ||
Performing (accruing) loans, past due | 3,947 | 1,452 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Performing Financial Instruments [Member] | Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Performing Financial Instruments [Member] | Pass [Member] | Residential Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | 1,447 | 1,449 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Performing Financial Instruments [Member] | Pass [Member] | Commercial Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | 2,500 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Performing Financial Instruments [Member] | Pass [Member] | Consumer Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | 3 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Performing Financial Instruments [Member] | Pass [Member] | Construction Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Performing Financial Instruments [Member] | Pass [Member] | Construction to Permanent Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Performing Financial Instruments [Member] | Special Mention [Member] | ||
Performing (accruing) loans, past due | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Performing Financial Instruments [Member] | Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Performing Financial Instruments [Member] | Special Mention [Member] | Residential Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Performing Financial Instruments [Member] | Substandard [Member] | ||
Performing (accruing) loans, past due | 500 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Performing Financial Instruments [Member] | Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Performing Financial Instruments [Member] | Substandard [Member] | Residential Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Performing Financial Instruments [Member] | Substandard [Member] | Commercial Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | 500 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Performing Financial Instruments [Member] | Substandard [Member] | Consumer Portfolio Segment [Member] | ||
Performing (accruing) loans, past due |
Note 3 - Loans Receivable and37
Note 3 - Loans Receivable and Allowance for Loan Losses - Impaired Loans (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | Dec. 31, 2016 | |
Impaired loans with no related allowance recorded, recorded investment | $ 8,700,000 | $ 8,700,000 | $ 8,720,000 | ||
Impaired loans with no related allowance recorded, unpaid principal balance | 9,817,000 | 9,817,000 | 10,267,000 | ||
Impaired loans with a related allowance recorded, recorded investment | 285,000 | 285,000 | 231,000 | ||
Impaired loans with a related allowance recorded, unpaid principal balance | 285,000 | 285,000 | 231,000 | ||
Impaired loans, related allowance | 285,000 | 285,000 | 231,000 | ||
Impaired loans, recorded investment | 8,985,000 | 8,985,000 | 8,951,000 | ||
Impaired loans, unpaid principal balance | 10,102,000 | 10,102,000 | 10,498,000 | ||
Impaired loans with no related allowance recorded, average recorded investment | 8,635,000 | $ 11,635,000 | 8,684,000 | $ 12,430,000 | |
Impaired loans with no allowance recorded, interest income recognized | 10,000 | 113,000 | 174,000 | 343,000 | |
Impaired loans with a related allowance recorded, average recorded investment | 245,000 | 3,070,000 | 237,000 | 2,280,000 | |
Impaired loans with a related allowance recorded, interest income recognized | |||||
Impaired loans, average recorded investment | 8,880,000 | 14,705,000 | 8,921,000 | 14,710,000 | |
Impaired loans, interest income recognized | 10,000 | 113,000 | 174,000 | 343,000 | |
Commercial Real Estate Portfolio Segment [Member] | |||||
Impaired loans with no related allowance recorded, recorded investment | 6,081,000 | 6,081,000 | 6,267,000 | ||
Impaired loans with no related allowance recorded, unpaid principal balance | 6,531,000 | 6,531,000 | 6,721,000 | ||
Impaired loans with a related allowance recorded, recorded investment | |||||
Impaired loans with a related allowance recorded, unpaid principal balance | |||||
Impaired loans, related allowance | |||||
Impaired loans, recorded investment | 6,081,000 | 6,081,000 | 6,267,000 | ||
Impaired loans, unpaid principal balance | 6,531,000 | 6,531,000 | 6,721,000 | ||
Impaired loans with no related allowance recorded, average recorded investment | 6,111,000 | 6,428,000 | 6,173,000 | 7,281,000 | |
Impaired loans with no allowance recorded, interest income recognized | 10,000 | 77,000 | 159,000 | 236,000 | |
Impaired loans with a related allowance recorded, average recorded investment | |||||
Impaired loans with a related allowance recorded, interest income recognized | |||||
Impaired loans, average recorded investment | 6,111,000 | 6,428,000 | 6,173,000 | 7,281,000 | |
Impaired loans, interest income recognized | 10,000 | 77,000 | 159,000 | 236,000 | |
Residential Portfolio Segment [Member] | |||||
Impaired loans with no related allowance recorded, recorded investment | 1,904,000 | 1,904,000 | 1,911,000 | ||
Impaired loans with no related allowance recorded, unpaid principal balance | 1,935,000 | 1,935,000 | 2,915,000 | ||
Impaired loans with a related allowance recorded, recorded investment | |||||
Impaired loans with a related allowance recorded, unpaid principal balance | |||||
Impaired loans, related allowance | |||||
Impaired loans, recorded investment | 1,904,000 | 1,904,000 | 1,911,000 | ||
Impaired loans, unpaid principal balance | 1,935,000 | 1,935,000 | 2,915,000 | ||
Impaired loans with no related allowance recorded, average recorded investment | 1,903,000 | 4,787,000 | 1,907,000 | 4,666,000 | |
Impaired loans with no allowance recorded, interest income recognized | 36,000 | 5,000 | 98,000 | ||
Impaired loans with a related allowance recorded, average recorded investment | |||||
Impaired loans with a related allowance recorded, interest income recognized | |||||
Impaired loans, average recorded investment | 1,903,000 | 4,787,000 | 1,907,000 | 4,666,000 | |
Impaired loans, interest income recognized | 36,000 | 5,000 | 98,000 | ||
Commercial Portfolio Segment [Member] | |||||
Impaired loans with no related allowance recorded, recorded investment | |||||
Impaired loans with no related allowance recorded, unpaid principal balance | 503,000 | 503,000 | |||
Impaired loans with a related allowance recorded, recorded investment | 285,000 | 285,000 | 231,000 | ||
Impaired loans with a related allowance recorded, unpaid principal balance | 285,000 | 285,000 | 231,000 | ||
Impaired loans, related allowance | 285,000 | 285,000 | 231,000 | ||
Impaired loans, recorded investment | 285,000 | 285,000 | 231,000 | ||
Impaired loans, unpaid principal balance | 788,000 | 788,000 | 231,000 | ||
Impaired loans with no related allowance recorded, average recorded investment | 37,000 | 148,000 | 46,000 | 74,000 | |
Impaired loans with no allowance recorded, interest income recognized | |||||
Impaired loans with a related allowance recorded, average recorded investment | 245,000 | 3,068,000 | 237,000 | 2,278,000 | |
Impaired loans with a related allowance recorded, interest income recognized | |||||
Impaired loans, average recorded investment | 282,000 | 3,216,000 | 283,000 | 2,352,000 | |
Impaired loans, interest income recognized | |||||
Consumer Portfolio Segment [Member] | |||||
Impaired loans with no related allowance recorded, recorded investment | 715,000 | 715,000 | 542,000 | ||
Impaired loans with no related allowance recorded, unpaid principal balance | 809,000 | 809,000 | 631,000 | ||
Impaired loans with a related allowance recorded, recorded investment | |||||
Impaired loans with a related allowance recorded, unpaid principal balance | |||||
Impaired loans, related allowance | |||||
Impaired loans, recorded investment | 715,000 | 715,000 | 542,000 | ||
Impaired loans, unpaid principal balance | 809,000 | 809,000 | 631,000 | ||
Impaired loans with no related allowance recorded, average recorded investment | 584,000 | 272,000 | 558,000 | 409,000 | |
Impaired loans with no allowance recorded, interest income recognized | 10,000 | 9,000 | |||
Impaired loans with a related allowance recorded, average recorded investment | 2,000 | 2,000 | |||
Impaired loans with a related allowance recorded, interest income recognized | |||||
Impaired loans, average recorded investment | 584,000 | 274,000 | 558,000 | 411,000 | |
Impaired loans, interest income recognized | 10,000 | $ 9,000 | |||
Construction Portfolio Segment [Member] | |||||
Impaired loans with no related allowance recorded, recorded investment | |||||
Impaired loans with no related allowance recorded, unpaid principal balance | 39,000 | 39,000 | |||
Impaired loans with a related allowance recorded, recorded investment | |||||
Impaired loans with a related allowance recorded, unpaid principal balance | |||||
Impaired loans, related allowance | |||||
Impaired loans, recorded investment | |||||
Impaired loans, unpaid principal balance | $ 39,000 | $ 39,000 |
Note 4 - Deposits - Summary of
Note 4 - Deposits - Summary of Deposits (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Non-interest bearing | $ 76,875 | $ 76,772 |
Interest bearing: | ||
NOW | 27,420 | 29,912 |
Savings | 141,256 | 131,429 |
Money market | 13,477 | 15,593 |
Certificates of deposit, less than $250,000 | 182,960 | 160,609 |
Certificates of deposit, $250,000 or greater | 69,415 | 51,077 |
Brokered deposits | 94,011 | 63,932 |
Interest bearing, Total | 528,539 | 452,552 |
Deposits | $ 605,414 | $ 529,324 |
Note 5 - Share-based Compensa39
Note 5 - Share-based Compensation and Employee Benefit Plan (Details Textual) - USD ($) | Jul. 24, 2017 | Jan. 04, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | Jun. 30, 2017 | Dec. 31, 2016 | Jun. 30, 2016 | Dec. 31, 2015 |
Labor and Related Expense | $ 2,741,000 | $ 2,169,000 | $ 7,668,000 | $ 7,334,000 | ||||||
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 50.00% | |||||||||
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent | 6.00% | |||||||||
Defined Contribution Plan, Cost | $ 37,000 | $ 39,000 | $ 132,000 | $ 120,000 | ||||||
Common Stock, Dividends, Per Share, Declared | $ 0.01 | $ 0 | ||||||||
Payments of Ordinary Dividends, Common Stock | $ 39,000 | $ 0 | ||||||||
Restricted Stock [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 5,084 | 58,084 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | 1,692 | 1,688 | 3,923 | 4,214 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period | 600 | 65,500 | 6,600 | 69,713 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 29,825 | 40,011 | 29,825 | 40,011 | 32,117 | 35,264 | 107,199 | 55,854 | ||
2012 Stock Plan [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 3,000,000 | 3,000,000 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 2,887,032 | 2,887,032 | ||||||||
Allocated Share-based Compensation Expense | $ 37,000 | $ 105,000 | $ 126,000 | |||||||
Allocated Share-based Compensation Expense, Reversal | $ 182,000 | |||||||||
2012 Stock Plan [Member] | Employees [Member] | ||||||||||
Allocated Share-based Compensation Expense | 16,000 | 48,000 | 80,000 | |||||||
Allocated Share-based Compensation Expense, Reversal | 198,000 | |||||||||
2012 Stock Plan [Member] | Patriot's External Directors [Member] | ||||||||||
Allocated Share-based Compensation Expense | 21,000 | 16,000 | 57,000 | 46,000 | ||||||
2012 Stock Plan [Member] | Patriot's External Directors [Member] | Other Nonoperating Income (Expense) [Member] | ||||||||||
Labor and Related Expense | $ 80,000 | $ 75,000 | $ 226,000 | $ 227,000 | ||||||
2012 Stock Plan [Member] | Phantom Share Units (PSUs) [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number | 0 | 0 | 0 | |||||||
2012 Stock Plan [Member] | Restricted Stock [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | 1,692 | 3,923 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period | 600 | 6,600 | ||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options | $ 321,000 | $ 321,000 | ||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 2 years 98 days | |||||||||
2012 Stock Plan [Member] | Restricted Stock [Member] | Director [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 5,084 | 5,884 | ||||||||
2012 Stock Plan [Member] | Restricted Stock [Member] | Employee [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 0 | 52,200 | ||||||||
2012 Stock Plan [Member] | Restricted Stock [Member] | Non-executive Employees [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period | 600 | 1,800 | ||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options | $ 41,000 | $ 41,000 | ||||||||
Stock Granted During Period, Shares, Gross Per Employee | 100 | |||||||||
Stock Issued During Period, Shares, Restricted Stock Award, Gross | 8,700 | |||||||||
Share Price | $ 15.50 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 6,300 | 6,300 | ||||||||
2012 Stock Plan [Member] | Restricted Stock [Member] | Share-based Compensation Award, Tranche Two [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 4 years | |||||||||
2012 Stock Plan [Member] | Restricted Stock [Member] | Share-based Compensation Award, Tranche Three [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 5 years |
Note 5 - Share-based Compensa40
Note 5 - Share-based Compensation and Employee Benefit Plan - Restricted Shares (Details) - Restricted Stock [Member] - $ / shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Unvested at beginning of year (in shares) | 32,117 | 107,199 | 35,264 | 55,854 |
Unvested at beginning of year, weighted average grant date fair value (in dollars per share) | $ 12.39 | $ 14.16 | $ 12.84 | $ 12.83 |
Vested (in shares) | (1,692) | (1,688) | (3,923) | (4,214) |
Vested, weighted average grant date fair value (in dollars per share) | $ 16.80 | $ 16.80 | $ 14.66 | $ 15.55 |
Forfeited (in shares) | (600) | (65,500) | (6,600) | (69,713) |
Forfeited, weighted average grant date fair value (in dollars per share) | $ 15.50 | $ 14.87 | $ 15.50 | $ 14.66 |
Unvested at end of year (in shares) | 29,825 | 40,011 | 29,825 | 40,011 |
Unvested at end of year, weighted average grant date fair value (in dollars per share) | $ 12.08 | $ 12.87 | $ 12.08 | $ 12.87 |
Granted (in shares) | 5,084 | 58,084 | ||
Granted, weighted average grant date fair value (in dollars per share) | $ 15.05 | $ 15.25 |
Note 6 - Earnings Per Share - C
Note 6 - Earnings Per Share - Computation of Earnings Per Share Basic and Diluted (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Basic earnings per share: | ||||
Net income attributable to Common shareholders | $ 1,013 | $ 814 | $ 3,547 | $ 885 |
Weighted average shares outstanding (in shares) | 3,894,237 | 3,958,718 | 3,893,702 | 3,957,343 |
Basic earnings per common share (in dollars per share) | $ 0.26 | $ 0.21 | $ 0.91 | $ 0.22 |
Diluted earnings per share: | ||||
Net income attributable to Common shareholders | $ 1,013 | $ 814 | $ 3,547 | $ 885 |
Weighted average shares outstanding (in shares) | 3,894,237 | 3,958,718 | 3,893,702 | 3,957,343 |
Effect of potentially dilutive restricted common shares (in shares) | 9,193 | 4,854 | ||
Weighted average diluted shares outstanding (in shares) | 3,903,430 | 3,958,718 | 3,898,556 | 3,957,343 |
Diluted earnings per common share (in dollars per share) | $ 0.26 | $ 0.21 | $ 0.91 | $ 0.22 |
Note 7 - Financial Instrument42
Note 7 - Financial Instruments With Off-balance Sheet Risk (Details Textual) | Sep. 30, 2017USD ($) |
Banks Reserve Based on Analysis in Unfunded Commitments | $ 5,000 |
Note 7 - Financial Instrument43
Note 7 - Financial Instruments With Off-balance Sheet Risk - Financial Instruments with Credit Risk (Details) $ in Thousands | Sep. 30, 2017USD ($) |
Commitments to extend credit | $ 103,311 |
Unused Line of Credit [Member] | |
Commitments to extend credit | 49,464 |
Undisbursed Construction Loans [Member] | |
Commitments to extend credit | 10,433 |
Home Equity Lines of Credit [Member] | |
Commitments to extend credit | 20,177 |
Future Loan Commitments [Member] | |
Commitments to extend credit | 21,938 |
Financial Standy Letter of Credit [Member] | |
Commitments to extend credit | $ 1,299 |
Note 8 - Regulatory and Opera44
Note 8 - Regulatory and Operational Matters (Details Textual) | Jan. 01, 2019 | Sep. 30, 2017 | Dec. 31, 2016 |
Capital Required to be Well Capitalized to Risk Weighted Assets | 10.00% | ||
Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets | 8.00% | ||
Common Equity, Tier 1, Capital Required for Capital Adequacy to Risk Weighted Assets | 6.50% | ||
Tier One Leverage Capital Required to be Well Capitalized to Average Assets | 5.00% | ||
Capital Conservation Buffer | 2.50% | ||
Capital Conservation Buffer Phase In Amount | 1.25% | 0.625% | |
Scenario, Forecast [Member] | |||
Common Equity, Tier 1, Capital Required for Capital Adequacy to Risk Weighted Assets | 7.00% | ||
Capital Required for Capital Adequacy to Risk Weighted Assets | 10.50% | ||
Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets | 8.50% |
Note 8 - Regulatory and Opera45
Note 8 - Regulatory and Operational Matters - Regulatory Capital Amounts and Ratios (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 | |
Total Capital (to Risk Weighted Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio | 10.00% | ||
Tier 1 Capital (to Risk Weighted Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio | 8.00% | ||
Common Equity Tier 1 Capital (to Risk Weighted Assets) For Capital Adequacy Purposes Ratio | 6.50% | ||
Tier 1 Capital (to Average Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio | 5.00% | ||
Parent Company [Member] | |||
Total Capital (to Risk Weighted Assets) Actual Amount | $ 74,470 | $ 66,254 | |
Total Capital (to Risk Weighted Assets) Actual Ratio | 10.222% | 10.603% | |
Total Capital (to Risk Weighted Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions Amount | [1] | ||
Total Capital (to Risk Weighted Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio | [1] | ||
Total Capital (to Risk Weighted Assets) For Capital Adequacy Purposes With Capital Buffer Amount | [2] | ||
Total Capital (to Risk Weighted Assets) For Capital Adequacy Purposes With Capital Buffer Ratio | [2] | ||
Total Capital (to Risk Weighted Assets) For Capital Adequacy Purposes Amount | $ 58,280 | $ 49,989 | |
Total Capital (to Risk Weighted Assets) For Capital Adequacy Purposes Ratio | 8.00% | 8.00% | |
Tier 1 Capital (to Risk Weighted Assets) Actual Amount | $ 68,240 | $ 61,571 | |
Tier 1 Capital (to Risk Weighted Assets) Actual Ratio | 9.367% | 9.854% | |
Tier 1 Capital (to Risk Weighted Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions Amount | [1] | ||
Tier 1 Capital (to Risk Weighted Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio | [1] | ||
Tier 1 Capital (to Risk Weighted Assets) For Capital Adequacy Purposes With Capital Buffer Amount | [2] | ||
Tier 1 Capital (to Risk Weighted Assets) For Capital Adequacy Purposes With Capital Buffer Ratio | [2] | ||
Tier 1 Capital (to Risk Weighted Assets) For Capital Adequacy Purposes Amount | $ 43,710 | $ 37,491 | |
Tier 1 Capital (to Risk Weighted Assets) For Capital Adequacy Purposes Ratio | 6.00% | 6.00% | |
Common Equity Tier 1 Capital (to Risk Weighted Assets) Actual Amount | $ 60,240 | $ 53,571 | |
Common Equity Tier 1 Capital (to Risk Weighted Assets) Actual Ratio | 8.269% | 8.573% | |
Common Equity Tier 1 Capital (to Risk Weighted Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions Amount | [1] | ||
Common Equity Tier 1 Capital (to Risk Weighted Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio | [1] | ||
Common Equity Tier 1 Capital (to Risk Weighted Assets) For Capital Adequacy Purposes With Capital Buffer Amount | [2] | ||
Common Equity Tier 1 Capital (to Risk Weighted Assets) For Capital Adequacy Purposes With Capital Buffer Ratio | [2] | ||
Common Equity Tier 1 Capital (to Risk Weighted Assets) For Capital Adequacy Purposes Amount | $ 32,783 | $ 28,119 | |
Common Equity Tier 1 Capital (to Risk Weighted Assets) For Capital Adequacy Purposes Ratio | 4.50% | 4.50% | |
Tier 1 Capital (to Average Assets) Actual Amount | $ 68,240 | $ 61,571 | |
Tier 1 Capital (to Average Assets) Actual Ratio | 8.449% | 9.296% | |
Tier 1 Capital (to Average Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions Amount | [1] | ||
Tier 1 Capital (to Average Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio | [1] | ||
Tier 1 Capital (to Average Assets) For Capital Adequacy Purposes Amount | $ 32,308 | $ 26,494 | |
Tier 1 Capital (to Average Assets) For Capital Adequacy Purposes Ratio | 4.00% | 4.00% | |
Subsidiaries [Member] | |||
Total Capital (to Risk Weighted Assets) Actual Amount | $ 83,558 | $ 74,303 | |
Total Capital (to Risk Weighted Assets) Actual Ratio | 11.554% | 11.928% | |
Total Capital (to Risk Weighted Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions Amount | [1] | $ 72,320 | $ 62,292 |
Total Capital (to Risk Weighted Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio | [1] | 10.00% | 10.00% |
Total Capital (to Risk Weighted Assets) For Capital Adequacy Purposes With Capital Buffer Amount | [2] | $ 66,896 | $ 53,727 |
Total Capital (to Risk Weighted Assets) For Capital Adequacy Purposes With Capital Buffer Ratio | [2] | 9.25% | 8.625% |
Total Capital (to Risk Weighted Assets) For Capital Adequacy Purposes Amount | $ 57,856 | $ 49,834 | |
Total Capital (to Risk Weighted Assets) For Capital Adequacy Purposes Ratio | 8.00% | 8.00% | |
Tier 1 Capital (to Risk Weighted Assets) Actual Amount | $ 77,328 | $ 69,620 | |
Tier 1 Capital (to Risk Weighted Assets) Actual Ratio | 10.692% | 11.176% | |
Tier 1 Capital (to Risk Weighted Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions Amount | [1] | $ 57,856 | $ 49,834 |
Tier 1 Capital (to Risk Weighted Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio | [1] | 8.00% | 8.00% |
Tier 1 Capital (to Risk Weighted Assets) For Capital Adequacy Purposes With Capital Buffer Amount | [2] | $ 52,432 | $ 41,269 |
Tier 1 Capital (to Risk Weighted Assets) For Capital Adequacy Purposes With Capital Buffer Ratio | [2] | 7.25% | 6.625% |
Tier 1 Capital (to Risk Weighted Assets) For Capital Adequacy Purposes Amount | $ 43,392 | $ 37,375 | |
Tier 1 Capital (to Risk Weighted Assets) For Capital Adequacy Purposes Ratio | 6.00% | 6.00% | |
Common Equity Tier 1 Capital (to Risk Weighted Assets) Actual Amount | $ 77,328 | $ 69,620 | |
Common Equity Tier 1 Capital (to Risk Weighted Assets) Actual Ratio | 10.692% | 11.176% | |
Common Equity Tier 1 Capital (to Risk Weighted Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions Amount | [1] | $ 47,008 | $ 40,490 |
Common Equity Tier 1 Capital (to Risk Weighted Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio | [1] | 6.50% | 6.50% |
Common Equity Tier 1 Capital (to Risk Weighted Assets) For Capital Adequacy Purposes With Capital Buffer Amount | [2] | $ 41,584 | $ 31,925 |
Common Equity Tier 1 Capital (to Risk Weighted Assets) For Capital Adequacy Purposes With Capital Buffer Ratio | [2] | 5.75% | 5.125% |
Common Equity Tier 1 Capital (to Risk Weighted Assets) For Capital Adequacy Purposes Amount | $ 32,544 | $ 28,031 | |
Common Equity Tier 1 Capital (to Risk Weighted Assets) For Capital Adequacy Purposes Ratio | 4.50% | 4.50% | |
Tier 1 Capital (to Average Assets) Actual Amount | $ 77,328 | $ 69,620 | |
Tier 1 Capital (to Average Assets) Actual Ratio | 9.574% | 10.518% | |
Tier 1 Capital (to Average Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions Amount | [1] | $ 40,384 | $ 33,096 |
Tier 1 Capital (to Average Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio | [1] | 5.00% | 5.00% |
Tier 1 Capital (to Average Assets) For Capital Adequacy Purposes Amount | $ 32,308 | $ 26,477 | |
Tier 1 Capital (to Average Assets) For Capital Adequacy Purposes Ratio | 4.00% | 4.00% | |
[1] | Designation as "Well Capitalized" does not apply to bank holding companies - - the Company. Such categorization of capital adequacy only applies to insured depository institutions - - the Bank. | ||
[2] | The Capital Conservation Buffer implemented by the FDIC began to be phased in beginning January 1, 2016. It was not applicable to periods prior to that date and does not apply to bank holding companies - - the Company. |
Note 9 - Fair Value and Inter46
Note 9 - Fair Value and Interest Rate Risk (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Other Investments | $ 4,450 | $ 4,450 |
Solomon Hess SBA Loan Fund [Member] | ||
Other Investments | $ 4,500 | |
Federal Home Loan Bank Certificates and Obligations (FHLB) [Member] | ||
Stock Value Par or Stated Value per Share | $ 100 | |
Federal Reserve Bank Stock [Member] | ||
Stock Value Par or Stated Value per Share | $ 100 |
Note 9 - Fair Value and Inter47
Note 9 - Fair Value and Interest Rate Risk - Financial Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Available-for-sale securities, at fair value | $ 29,586 | $ 24,428 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Available-for-sale securities, at fair value | 8,036 | 10,441 |
Corporate Debt Securities [Member] | ||
Available-for-sale securities, at fair value | 13,905 | 8,961 |
Subordinated Notes [Member] | ||
Available-for-sale securities, at fair value | 7,645 | 5,026 |
Fair Value, Measurements, Recurring [Member] | ||
Available-for-sale securities, at fair value | 29,586 | 24,428 |
Fair Value, Measurements, Recurring [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Available-for-sale securities, at fair value | 8,036 | 10,441 |
Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member] | ||
Available-for-sale securities, at fair value | 13,905 | 8,961 |
Fair Value, Measurements, Recurring [Member] | Subordinated Notes [Member] | ||
Available-for-sale securities, at fair value | 7,645 | 5,026 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Available-for-sale securities, at fair value | ||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Available-for-sale securities, at fair value | ||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member] | ||
Available-for-sale securities, at fair value | ||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Subordinated Notes [Member] | ||
Available-for-sale securities, at fair value | ||
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Available-for-sale securities, at fair value | 27,551 | 22,428 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Available-for-sale securities, at fair value | 8,036 | 10,441 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member] | ||
Available-for-sale securities, at fair value | 13,905 | 8,961 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Subordinated Notes [Member] | ||
Available-for-sale securities, at fair value | 5,610 | 3,026 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Available-for-sale securities, at fair value | 2,035 | 2,000 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Available-for-sale securities, at fair value | ||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member] | ||
Available-for-sale securities, at fair value | ||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Subordinated Notes [Member] | ||
Available-for-sale securities, at fair value | $ 2,035 | $ 2,000 |
Note 9 - Fair Value and Inter48
Note 9 - Fair Value and Interest Rate Risk - Quantitative Information About Level 3 Fair Value Measurements (Details) - Fair Value, Inputs, Level 3 [Member] - Fair Value of Collateral Approach [Member] - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2017 | Dec. 31, 2016 | |
Impaired Loans [Member] | ||
Impaired loans | $ 8,985 | $ 8,951 |
Impaired Loans [Member] | Minimum [Member] | ||
Discount for appraisal type | 0.00% | 0.00% |
Impaired Loans [Member] | Maximum [Member] | ||
Discount for appraisal type | 8.00% | 8.00% |
Other Real Estate Owned [Member] | ||
Discount for appraisal type | 21.00% | 21.00% |
OREO | $ 851 | $ 851 |
Other Real Estate Owned [Member] | Minimum [Member] | ||
Discount for appraisal type | 21.00% | 21.00% |
Other Real Estate Owned [Member] | Maximum [Member] | ||
Discount for appraisal type | 21.00% | 21.00% |
Note 9 - Fair Value and Inter49
Note 9 - Fair Value and Interest Rate Risk - Financial Assets and Liabilities (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Financial Assets: | ||
Available-for-sale securities, at fair value | $ 29,586 | $ 24,428 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Financial Assets: | ||
Available-for-sale securities, at fair value | 8,036 | 10,441 |
Corporate Debt Securities [Member] | ||
Financial Assets: | ||
Available-for-sale securities, at fair value | 13,905 | 8,961 |
Subordinated Notes [Member] | ||
Financial Assets: | ||
Available-for-sale securities, at fair value | 7,645 | 5,026 |
Reported Value Measurement [Member] | ||
Financial Assets: | ||
Financial assets, total | 778,658 | 708,593 |
Financial Liabilities: | ||
Financial liabilities, total | 757,342 | 688,918 |
Estimate of Fair Value Measurement [Member] | ||
Financial Assets: | ||
Financial assets, total | 774,526 | 708,368 |
Financial Liabilities: | ||
Financial liabilities, total | 756,565 | 687,463 |
Fair Value, Inputs, Level 1 [Member] | Reported Value Measurement [Member] | Brokered Deposits [Member] | ||
Financial Liabilities: | ||
Deposits | 94,011 | 63,932 |
Fair Value, Inputs, Level 1 [Member] | Reported Value Measurement [Member] | Cash and Due from Banks [Member] | ||
Financial Assets: | ||
Cash and cash equivalents | 3,337 | 2,596 |
Fair Value, Inputs, Level 1 [Member] | Reported Value Measurement [Member] | Interest-bearing Deposits [Member] | ||
Financial Assets: | ||
Cash and cash equivalents | 25,075 | 89,693 |
Fair Value, Inputs, Level 1 [Member] | Estimate of Fair Value Measurement [Member] | Brokered Deposits [Member] | ||
Financial Liabilities: | ||
Deposits | 93,950 | 63,897 |
Fair Value, Inputs, Level 1 [Member] | Estimate of Fair Value Measurement [Member] | Cash and Due from Banks [Member] | ||
Financial Assets: | ||
Cash and cash equivalents | 3,337 | 2,596 |
Fair Value, Inputs, Level 1 [Member] | Estimate of Fair Value Measurement [Member] | Interest-bearing Deposits [Member] | ||
Financial Assets: | ||
Cash and cash equivalents | 25,075 | 89,693 |
Fair Value, Inputs, Level 2 [Member] | Reported Value Measurement [Member] | ||
Financial Assets: | ||
Other investments | 4,450 | 4,450 |
Federal Reserve Bank stock | 2,460 | 2,109 |
Federal Home Loan Bank stock | 6,353 | 5,609 |
Accrued interest receivable | 3,501 | 2,726 |
Financial Liabilities: | ||
FHLB and correspondent bank borrowings | 130,000 | 138,000 |
Senior notes | 11,684 | 11,628 |
Subordinated debentures | 8,085 | 8,079 |
Accrued interest payable | 532 | 118 |
Fair Value, Inputs, Level 2 [Member] | Reported Value Measurement [Member] | Demand Deposits [Member] | ||
Financial Liabilities: | ||
Deposits | 76,875 | 76,772 |
Fair Value, Inputs, Level 2 [Member] | Reported Value Measurement [Member] | Savings Deposits [Member] | ||
Financial Liabilities: | ||
Deposits | 141,256 | 131,429 |
Fair Value, Inputs, Level 2 [Member] | Reported Value Measurement [Member] | Money Market Deposits [Member] | ||
Financial Liabilities: | ||
Deposits | 13,477 | 15,593 |
Fair Value, Inputs, Level 2 [Member] | Reported Value Measurement [Member] | Negotiable Order of Withdrawal (NOW) Accounts [Member] | ||
Financial Liabilities: | ||
Deposits | 27,420 | 29,912 |
Fair Value, Inputs, Level 2 [Member] | Reported Value Measurement [Member] | Time Deposits [Member] | ||
Financial Liabilities: | ||
Deposits | 252,375 | 211,686 |
Fair Value, Inputs, Level 2 [Member] | Reported Value Measurement [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Financial Assets: | ||
Available-for-sale securities, at fair value | 8,036 | 10,441 |
Fair Value, Inputs, Level 2 [Member] | Reported Value Measurement [Member] | Corporate Debt Securities [Member] | ||
Financial Assets: | ||
Available-for-sale securities, at fair value | 13,905 | 8,961 |
Fair Value, Inputs, Level 2 [Member] | Reported Value Measurement [Member] | Subordinated Notes [Member] | ||
Financial Assets: | ||
Available-for-sale securities, at fair value | 5,610 | 3,026 |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | ||
Financial Assets: | ||
Other investments | 4,450 | 4,450 |
Federal Reserve Bank stock | 2,460 | 2,109 |
Federal Home Loan Bank stock | 6,353 | 5,609 |
Accrued interest receivable | 3,501 | 2,726 |
Financial Liabilities: | ||
FHLB and correspondent bank borrowings | 130,214 | 138,149 |
Senior notes | 11,324 | 11,628 |
Subordinated debentures | 8,085 | 8,079 |
Accrued interest payable | 532 | 118 |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | Demand Deposits [Member] | ||
Financial Liabilities: | ||
Deposits | 76,875 | 76,772 |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | Savings Deposits [Member] | ||
Financial Liabilities: | ||
Deposits | 141,256 | 131,429 |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | Money Market Deposits [Member] | ||
Financial Liabilities: | ||
Deposits | 13,477 | 15,593 |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | Negotiable Order of Withdrawal (NOW) Accounts [Member] | ||
Financial Liabilities: | ||
Deposits | 27,420 | 29,912 |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | Time Deposits [Member] | ||
Financial Liabilities: | ||
Deposits | 251,966 | 210,321 |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Financial Assets: | ||
Available-for-sale securities, at fair value | 8,036 | 10,441 |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | Corporate Debt Securities [Member] | ||
Financial Assets: | ||
Available-for-sale securities, at fair value | 13,905 | 8,961 |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | Subordinated Notes [Member] | ||
Financial Assets: | ||
Available-for-sale securities, at fair value | 5,610 | 3,026 |
Fair Value, Inputs, Level 3 [Member] | Reported Value Measurement [Member] | ||
Financial Assets: | ||
Loans receivable, net | 703,896 | 576,982 |
Financial Liabilities: | ||
Note payable | 1,627 | 1,769 |
Fair Value, Inputs, Level 3 [Member] | Reported Value Measurement [Member] | Subordinated Notes [Member] | ||
Financial Assets: | ||
Available-for-sale securities, at fair value | 2,035 | 2,000 |
Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value Measurement [Member] | ||
Financial Assets: | ||
Loans receivable, net | 699,764 | 576,757 |
Financial Liabilities: | ||
Note payable | 1,466 | 1,565 |
Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value Measurement [Member] | Subordinated Notes [Member] | ||
Financial Assets: | ||
Available-for-sale securities, at fair value | $ 2,035 | $ 2,000 |
Note 10 - Pending Merger and 50
Note 10 - Pending Merger and Acquisition (Details Textual) - Prime Bank [Member] - USD ($) | 3 Months Ended | 9 Months Ended | |
Dec. 31, 2017 | Sep. 30, 2017 | Aug. 01, 2017 | |
Business Acquisition, Cash Consideration Percentage | 115.00% | ||
Business Combination, Acquisition Related Costs | $ 39,000 | ||
Scenario, Forecast [Member] | |||
Business Combination, Acquisition Related Costs | $ 500,000 |