Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2019 | May 10, 2019 | |
Document Information [Line Items] | ||
Entity Registrant Name | PATRIOT NATIONAL BANCORP INC | |
Entity Central Index Key | 0001098146 | |
Trading Symbol | pnbk | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Emerging Growth Company | false | |
Entity Small Business | true | |
Entity Common Stock, Shares Outstanding (in shares) | 3,921,910 | |
Document Type | 10-Q | |
Document Period End Date | Mar. 31, 2019 | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | false |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Cash and due from banks: | ||
Noninterest bearing deposits and cash | $ 6,661 | $ 7,381 |
Interest bearing deposits | 49,971 | 59,056 |
Total cash and cash equivalents | 56,632 | 66,437 |
Investment securities: | ||
Available-for-sale securities, at fair value | 40,275 | 39,496 |
Other investments, at cost | 4,963 | 4,963 |
Total investment securities | 45,238 | 44,459 |
Federal Reserve Bank stock, at cost | 2,892 | 2,866 |
Federal Home Loan Bank stock, at cost | 4,513 | 4,928 |
Loans receivable (net of allowance for loan losses: 2019: $7,823, 2018: $7,609) | 780,713 | 772,767 |
Accrued interest and dividends receivable | 3,621 | 3,766 |
Premises and equipment, net | 35,335 | 35,435 |
Other real estate owned | 2,945 | 2,945 |
Deferred tax asset, net | 10,357 | 10,851 |
Goodwill | 1,107 | 1,728 |
Core deposit intangible, net | 680 | 698 |
Other assets | 9,075 | 4,816 |
Total assets | 953,108 | 951,696 |
Deposits: | ||
Noninterest bearing deposits | 82,248 | 84,471 |
Interest bearing deposits | 670,573 | 658,810 |
Total deposits | 752,821 | 743,281 |
Federal Home Loan Bank and correspondent bank borrowings | 90,000 | 100,000 |
Senior notes, net | 11,796 | 11,778 |
Subordinated debt, net | 9,731 | 9,723 |
Junior subordinated debt owed to unconsolidated trust, net | 8,096 | 8,094 |
Note payable | 1,339 | 1,388 |
Advances from borrowers for taxes and insurance | 1,922 | 2,926 |
Accrued expenses and other liabilities | 7,754 | 5,166 |
Total liabilities | 883,459 | 882,356 |
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; 2019: 3,993,351 shares issued; 3,919,610 shares outstanding. 2018: 3,984,415 shares issued; 3,910,674 shares outstanding | 40 | 40 |
Additional paid-in capital | 107,143 | 107,095 |
Accumulated deficit | (35,517) | (35,790) |
Less: Treasury stock, at cost: 2019 and 2018, 73,741 and 73,741 shares, respectively | (1,179) | (1,179) |
Accumulated other comprehensive loss | (838) | (826) |
Total shareholders' equity | 69,649 | 69,340 |
Total liabilities and shareholders' equity | $ 953,108 | $ 951,696 |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Net of allowance for loan and lease losses | $ 7,823 | $ 7,609 |
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) | 3,993,351 | 3,984,415 |
Common stock, shares outstanding (in shares) | 3,919,610 | 3,910,674 |
Treasury stock, shares held (in shares) | 73,741 | 73,741 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Interest and Dividend Income | ||
Interest and fees on loans | $ 9,741 | $ 8,774 |
Interest on investment securities | 385 | 266 |
Dividends on investment securities | 118 | 121 |
Other interest income | 327 | 151 |
Total interest and dividend income | 10,571 | 9,312 |
Interest Expense | ||
Interest on deposits | 3,264 | 1,657 |
Interest on Federal Home Loan Bank borrowings | 439 | 257 |
Interest on senior debt | 229 | 229 |
Interest on subordinated debt | 289 | 99 |
Interest on note payable and other | 6 | 7 |
Total interest expense | 4,227 | 2,249 |
Net interest income | 6,344 | 7,063 |
Provision for Loan Losses | 165 | 185 |
Net interest income after provision for loan losses | 6,179 | 6,878 |
Non-interest Income | ||
Loan application, inspection and processing fees | 14 | 8 |
Deposit fees and service charges | 127 | 134 |
Gains on sales of loans | 456 | |
Rental Income | 130 | 84 |
Other income | 95 | 96 |
Total non-interest income | 822 | 322 |
Non-interest Expense | ||
Salaries and benefits | 3,184 | 2,769 |
Occupancy and equipment expense | 917 | 741 |
Data processing expense | 370 | 317 |
Professional and other outside services | 771 | 572 |
Merger and tax initiative project expenses | 80 | 523 |
Advertising and promotional expense | 115 | 78 |
Loan administration and processing expense | 14 | 13 |
Regulatory assessments | 315 | 252 |
Insurance expense | 41 | 55 |
Communications, stationary and supplies | 134 | 113 |
Other operating expense | 569 | 358 |
Total non-interest expense | 6,510 | 5,791 |
Income before income taxes | 491 | 1,409 |
Provision for Income Taxes | 168 | 344 |
Net income | $ 323 | $ 1,065 |
Basic earnings per share (in dollars per share) | $ 0.08 | $ 0.27 |
Diluted earnings per share (in dollars per share) | $ 0.08 | $ 0.27 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive (Loss) Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Net income | $ 323 | $ 1,065 |
Other comprehensive income: | ||
Unrealized holding loss on securities | (15) | (307) |
Income tax effect | 3 | 83 |
Total other comprehensive loss | (12) | (224) |
Comprehensive income | $ 311 | $ 841 |
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, 2017 | 3,899,675 | |||||
Balance at Dec. 31, 2017 | $ 40 | $ 106,875 | $ (38,832) | $ (1,179) | $ (155) | $ 66,749 |
Comprehensive income: | ||||||
Net income | 1,065 | 1,065 | ||||
Unrealized holding loss on available-for-sale securities, net of tax | (224) | (224) | ||||
Total comprehensive income | 1,065 | (224) | 841 | |||
Common stock dividends | (38) | (38) | ||||
Share-based compensation expense | 53 | 53 | ||||
Vesting of restricted stock (in shares) | 2,935 | |||||
Balance (in shares) at Dec. 31, 2017 | 3,899,675 | |||||
Balance at Dec. 31, 2017 | $ 40 | 106,875 | (38,832) | (1,179) | (155) | 66,749 |
Balance (in shares) at Mar. 31, 2018 | 3,902,610 | |||||
Balance at Mar. 31, 2018 | $ 40 | 106,928 | (37,805) | (1,179) | (379) | 67,605 |
Balance (in shares) at Dec. 31, 2018 | 3,910,674 | |||||
Balance at Dec. 31, 2018 | $ 40 | 107,095 | (35,790) | (1,179) | (826) | 69,340 |
Comprehensive income: | ||||||
Net income | 323 | 323 | ||||
Unrealized holding loss on available-for-sale securities, net of tax | (12) | (12) | ||||
Total comprehensive income | 323 | (12) | 311 | |||
Common stock dividends | (39) | (39) | ||||
Share-based compensation expense | 48 | 48 | ||||
Vesting of restricted stock (in shares) | 8,936 | |||||
Balance (in shares) at Dec. 31, 2018 | 3,910,674 | |||||
Balance at Dec. 31, 2018 | $ 40 | 107,095 | (35,790) | (1,179) | (826) | 69,340 |
Balance (in shares) at Mar. 31, 2019 | 3,919,610 | |||||
Balance at Mar. 31, 2019 | $ 40 | 107,143 | (35,517) | (1,179) | (838) | 69,649 |
Comprehensive income: | ||||||
Cumulative effect of adopting ASU 2016-02 | $ (11) | $ (11) |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Cash Flows from Operating Activities: | ||
Net income | $ 323,000 | $ 1,065,000 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
(Accretion) amortization of investment premiums, net | (11,000) | 13,000 |
Amortization and accretion of purchase loan premiums and discounts | 174,000 | 176,000 |
Amortization of debt issuance costs | 28,000 | 21,000 |
Amortization of core deposit intangible | 18,000 | |
Provision for loan losses | 165,000 | 185,000 |
Depreciation and amortization | 389,000 | 350,000 |
Share-based compensation | 48,000 | 53,000 |
Decrease (increase) in deferred income taxes | 497,000 | (855,000) |
Changes in assets and liabilities: | ||
Decrease (increase) in accrued interest and dividends receivable | 145,000 | (9,000) |
(Increase) decrease in other assets | (862,000) | 102,000 |
(Decrease) increase in accrued expenses and other liabilities | (479,000) | 574,000 |
Net cash provided by operating activities | 435,000 | 1,675,000 |
Cash Flows from Investing Activities: | ||
Principal repayments on available-for-sale securities | 613,000 | 463,000 |
Purchases of available-for-sale securities | (1,396,000) | |
Purchases of Federal Reserve Bank stock | (26,000) | (24,000) |
Redemptions of Federal Home Loan Bank stock | 415,000 | |
Increase in originated loans receivable, net | (3,481,000) | (5,081,000) |
Purchases of loans receivable | (4,804,000) | |
Purchase of premises and equipment | (9,000) | (630,000) |
Escrow deposit for pending acquisition | (500,000) | |
Net cash used in investing activities | (8,688,000) | (5,772,000) |
Cash Flows from Financing Activities: | ||
Increase in deposits, net | 9,540,000 | 17,859,000 |
Repayments of FHLB borrowings | (10,000,000) | |
Principal repayments of note payable | (49,000) | (48,000) |
Decrease in advances from borrowers for taxes and insurance | (1,004,000) | (925,000) |
Dividends paid on common stock | (39,000) | (38,000) |
Net cash (used) provided by financing activities | (1,552,000) | 16,848,000 |
Net (decrease) increase in cash and cash equivalents | (9,805,000) | 12,751,000 |
Cash and cash equivalents at beginning of period | 66,437,000 | 48,729,000 |
Cash and cash equivalents at end of period | 56,632,000 | 61,480,000 |
Supplemental Disclosures of Cash Flow Information: | ||
Cash paid for interest | 3,950,000 | 1,844,000 |
Cash paid for income taxes | 18,000 | 125,000 |
Purchase of premises and equipment | 280,000 | |
Increase in accrued expense and other liabilities | (280,000) | |
Initial recognition of operating lease right-of-use assets | 3,397,000 | |
Initial recognition of operating lease liabilities | 3,444,000 | |
Contingent liability assumed in business combination | $ 621,000 |
Note 1 - Basis of Financial Sta
Note 1 - Basis of Financial Statement Presentation | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Basis of Accounting [Text Block] | Note 1: The accompanying unaudited condensed consolidated financial statements of Patriot National Bancorp, Inc. (the “Company”) and its wholly-owned subsidiary 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 Annual Report on Form 10 December 31, 2018. The Consolidated Balance Sheet at December 31, 2018 not On May 10, 2018 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 and lease losses, the analysis and valuation of its investment securities, the valuation of deferred tax assets, accounting for the business combination, and accounting for leases 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 March 31, 2019 not may 2019. |
Note 2 - Recent Accounting Pron
Note 2 - Recent Accounting Pronouncements | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | Note 2: Recent Accounting Pronouncements Accounting Standards Adopted During 201 9 Effective January 1, 2019, ASU 2016 02 In February 2016, No. 2016 02, July 2018, January 1, 2019, January 1, 2019. $3.4 $3.4 not Accounting Standards Issued But Not ASU 2016 13 In June 2016, 2016 13, Financial Instruments-Credit Losses: Measurement of Credit Losses on Financial Instruments. not 2016 13 2016 13 December 15, 2019, December 15, 2018. ASU 2017 04 In January 2017, 2017 04, Intangibles-Goodwill and Other (Topic 350 2 2 not December 15, 2019. not ASU 2017 08 In March 2017, 2017 08, Premium Amortization on Purchased Callable Debt Securities December 15, 2018. December 15, 2019, December 15, 2020. 2017 08 A SU 2017 12 "Derivatives and Hedging (Topic 815 2017 12 October 2018, 2018 16, 815 2018 16 2017 12. 2017 12 December 15, 2018, 2017 12 2018 16 not ASU 2018 13 In August 2018, No. 2018 13, Fair Value Measurement (Topic 820 1 2 3 2018 13 2018 13 3 3 December 15, 2019. 3 not |
Note 3 - Available-for-sale Sec
Note 3 - Available-for-sale Securities | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | Note 3 : Available-for - Sale Securities The amortized cost, gross unrealized gains, gross unrealized losses and fair values of available-for-sale securities at March 31, 2019 December 31, 2018 (In thousands) Amortized Gross Gross Fair March 31, 2019: U. S. Government agency mortgage-backed securities $ 20,017 84 (125 ) 19,976 Corporate bonds 14,000 - (1,172 ) 12,828 Subordinated notes 5,899 81 - 5,980 U.S. Treasury notes 1,488 3 - 1,491 $ 41,404 168 (1,297 ) 40,275 December 31, 2018: U. S. Government agency mortgage-backed securities $ 20,626 43 (196 ) 20,473 Corporate bonds 14,000 - (1,026 ) 12,974 Subordinated notes 4,500 64 - 4,564 U.S. Treasury notes 1,484 1 - 1,485 $ 40,610 108 (1,222 ) 39,496 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 March 31, 2019 December 31, 2018: (In thousands) Less than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized March 31, 2019: U. S. Government agency mortgage-backed securities $ 2,972 (23 ) 3,778 (102 ) 6,750 (125 ) Corporate bonds - - 12,828 (1,172 ) 12,828 (1,172 ) $ 2,972 (23 ) 16,606 (1,274 ) 19,578 (1,297 ) December 31, 2018: U. S. Government agency mortgage-backed securities $ 8,024 (38 ) 5,422 (158 ) 13,446 (196 ) Corporate bonds - - 12,974 (1,026 ) 12,974 (1,026 ) $ 8,024 (38 ) 18,396 (1,184 ) 26,420 (1,222 ) At March 31, 2019 December 31, 2018, ten seventeen ten sixteen 6.2% 4.4% Based on its quarterly reviews, management believes that none not not not none March 31, 2019. At March 31, 2019 December 31, 2018, $6.9 $7.0 March 31, 2019 December 31, 2018, $5.4 $5.5 $1.5 $1.5 The following summarizes, by class and contractual maturity, the amortized cost and estimated fair value of available-for-sale debt securities held at March 31, 2019 December 31, 2018. not may (In thousands) Amortized Cost Fair Value Due Due After Due Total Due Due After Due Total March 31, 2019: Corporate bonds $ - 9,000 5,000 14,000 - 8,278 4,550 12,828 Subordinated notes - 5,899 - 5,899 - 5,980 - 5,980 U.S. Treasury notes 1,488 - - 1,488 1,491 - - 1,491 Available-for-sale securities with single maturity dates 1,488 14,899 5,000 21,387 1,491 14,258 4,550 20,299 U. S. Government agency mortgage-backed securities 9,671 2,445 7,901 20,017 9,664 2,368 7,944 19,976 $ 11,159 17,344 12,901 41,404 11,155 16,626 12,494 40,275 December 31, 2018: Corporate bonds $ - 9,000 5,000 14,000 - 8,537 4,437 12,974 Subordinated notes - 4,500 - 4,500 - 4,564 - 4,564 U.S. Treasury notes 1,484 - - 1,484 1,485 - - 1,485 Available-for-sale securities with single maturity dates 1,484 13,500 5,000 19,984 1,485 13,101 4,437 19,023 U. S. Government agency mortgage-backed securities 6,842 5,668 8,116 20,626 6,844 5,530 8,099 20,473 $ 8,326 19,168 13,116 40,610 8,329 18,631 12,536 39,496 During the three March 31, 2019, $1.4 no three March 31, 2019. no three March 31, 2018. |
Note 4 - Loans Receivable and A
Note 4 - Loans Receivable and Allowance for Loan and Lease Losses | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | Note 4 : Loans Receivable and Allowance for L oan and L ease L osses As of March 31, 2019 December 31, 2018, (In thousands) March 31, December 31, Loan portfolio segment: Commercial Real Estate $ 291,556 274,938 Residential Real Estate 159,985 157,300 Commercial and Industrial 177,866 191,852 Consumer and Other 95,755 94,569 Construction 45,356 46,040 Construction to Permanent - CRE 18,018 15,677 Loans receivable, gross 788,536 780,376 Allowance for loan and lease losses (7,823 ) (7,609 ) Loans receivable, net $ 780,713 772,767 Patriot's lending activities are conducted principally in Fairfield and New Haven Counties in Connecticut and Westchester County in New York, and the five 2016. 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% 80% 75% may In connection with the Prime Bank merger in May 2018, 310 30. $439,000 March 31, 2019. Income is recognized on PCI loans pursuant to ASC Topic 310 30. not A summary of changes in the accretable discount for PCI loans for the three March 31, 2019 (In thousands) For the three Months Ended March 31, 2019 Accretable discount, beginning of period $ (792 ) Accretion 25 Other changes, net 573 Accretable discount, end of period $ (194 ) The accretion of the accretable discount for PCI loans for the three March 31, 2019 $25,000. first 2019. 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 During the three March 31, 2019 2018, $4.8 $0 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 Patriot originates SBA 7 75 Patriot’s syndicated and leveraged loan portfolio are included in the commercial and industrial loan classification and are primarily comprised of loan transactions led by major financial institutions and regional banks, which are the Agent Bank or Lead Arranger, and are referred to as syndicated loans or “Shared National Credits (SNC)”. SNC loans were determined to be complementary to the Bank’s existing C&I portfolio and product offerings and provide diversification from Patriot’s typical direct-to-business lines of credit and term facilities. The Bank will participate in senior secured financings for public and privately-owned companies for acquisitions, working capital, recapitalizations, and general corporate purposes. The Bank’s strategy is to participate in these types of loan transactions. 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 No three March 31, 2019 2018. 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 - Commercial Real Estate (“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 L oan and L ease L osses The following tables summarize the activity in the allowance for loan and lease losses, allocated to segments of the loan portfolio, for the three March 31, 2019 2018: (In thousands) Commercial Residential Commercial Consumer Construction Construction Unallocated Total Three months ended March 31, 2019 Allowance for loan and lease losses: December 31, 2018 $ 1,866 1,059 3,558 641 350 108 27 7,609 Charge-offs - - - - - - - - Recoveries - - 47 2 - - - 49 Provisions (credits) (4 ) 330 (115 ) (51 ) 5 15 (15 ) 165 March 31, 2019 $ 1,862 1,389 3,490 592 355 123 12 7,823 Three months ended March 31, 2018 Allowance for loan and lease losses: December 31, 2017 $ 2,212 959 2,023 568 481 54 - 6,297 Charge-offs - - - - - - - - Recoveries 3 - - - - - - 3 Provisions (credits) 265 114 (264 ) (22 ) 7 7 78 185 March 31, 2018 $ 2,480 1,073 1,759 546 488 61 78 6,485 The following tables summarize, by loan portfolio segment, the amount of loans receivable evaluated individually and collectively for impairment as of March 31, 2019 December 31, 2018: (In thousands) Commercial Residential Commercial Consumer Construction Construction Unallocated Total March 31, 2019 Allowance for loan and lease losses: Individually evaluated for impairment $ - 563 1,062 - - - - 1,625 Collectively evaluated for impairment 1,862 826 2,428 592 355 123 12 6,198 Total allowance for loan losses $ 1,862 1,389 3,490 592 355 123 12 7,823 Loans receivable, gross: Individually evaluated for impairment $ 12,026 3,766 4,598 861 8,800 - - 30,051 PCI loans individually evaluated for impairment - - 439 - - - - 439 Collectively evaluated for impairment 279,530 156,219 172,829 94,894 36,556 18,018 - 758,046 Total loans receivable, gross $ 291,556 159,985 177,866 95,755 45,356 18,018 - 788,536 (In thousands) Commercial Residential Commercial Consumer Construction Construction Unallocated Total December 31, 2018 Allowance for loan and lease losses: Individually evaluated for impairment $ - 216 1,299 30 - - - 1,545 Collectively evaluated for impairment 1,866 843 2,259 611 350 108 27 6,064 Total allowance for loan losses $ 1,866 1,059 3,558 641 350 108 27 7,609 Loans receivable, gross: Individually evaluated for impairment $ 4,606 2,302 4,646 864 8,800 - - 21,218 PCI loans individually evaluated for impairment - - 615 - - - - 615 Collectively evaluated for impairment 270,332 154,998 186,591 93,705 37,240 15,677 - 758,543 Total loans receivable, gross $ 274,938 157,300 191,852 94,569 46,040 15,677 - 780,376 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 an objective and independent third When assigning a risk rating to a loan, management utilizes the Bank’s internal eleven not one ● Substandard: An asset is classified “substandard” if it is not not ● Doubtful: Assets classified as “doubtful” have all of the weaknesses inherent in those classified as “substandard”, with the added characteristic that the identified weaknesses 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 180 120 If an account is classified as “Loss”, the full balance of the loans receivable is charged off, regardless of the potential recovery from a sale of the underlying collateral. Any amount that may Loan Portfolio Aging Analysis The following tables summarize performing and non-performing (i.e., non-accruing) loans receivable by portfolio segment, by aging category, by delinquency status as of March 31, 2019. (In thousands) Performing (Accruing) Loans As of March 31, 2019: 30 - 59 Days 60 - 89 Days 90 Days Due Total Current Total Non-accruing Loans Loan portfolio segment: Commercial Real Estate: Pass $ 208 - - 208 272,278 272,486 - 272,486 Special mention - - - - 2,070 2,070 - 2,070 Substandard 583 431 - 1,014 5,033 6,047 10,953 17,000 791 431 - 1,222 279,381 280,603 10,953 291,556 Residential Real Estate: Pass 1,293 - - 1,293 153,481 154,774 - 154,774 Special mention - - - - - - - - Substandard - - - - 1,738 1,738 3,473 5,211 1,293 - - 1,293 155,219 156,512 3,473 159,985 Commercial and Industrial: Pass 454 195 600 1,249 160,419 161,668 - 161,668 Special mention - - 100 100 1,932 2,032 - 2,032 Substandard - 338 - 338 9,196 9,534 4,632 14,166 454 533 700 1,687 171,547 173,234 4,632 177,866 Consumer and Other: Pass 1,463 168 8 1,639 93,944 95,583 - 95,583 Substandard - - - - - - 172 172 1,463 168 8 1,639 93,944 95,583 172 95,755 Construction: Pass - - - - 36,556 36,556 - 36,556 Substandard - - - - - - 8,800 8,800 - - - - 36,556 36,556 8,800 45,356 Construction to Permanent - CRE: Pass - - - - 18,018 18,018 - 18,018 - - - - 18,018 18,018 - 18,018 Total $ 4,001 1,132 708 5,841 754,665 760,506 28,030 788,536 Loans receivable, gross: Pass $ 3,418 363 608 4,389 734,696 739,085 - 739,085 Special mention - - 100 100 4,002 4,102 - 4,102 Substandard 583 769 - 1,352 15,967 17,319 28,030 45,349 Loans receivable, gross $ 4,001 1,132 708 5,841 754,665 760,506 28,030 788,536 The following tables summarize performing and non-performing loans (i.e., non-accruing) receivable by portfolio segment, by aging category, by delinquency status as of December 31, 2018. (In thousands) Performing (Accruing) Loans As of December 31, 2018: 30 - 5 9 Days 60 - 89 Days 90 Days Past Due Total Current Total Non-accruing Loans Loan portfolio segment: Commercial Real Estate: Pass $ 423 - - 423 262,435 262,858 - 262,858 Special mention - - 958 958 2,673 3,631 - 3,631 Substandard 170 - - 170 4,754 4,924 3,525 8,449 593 - 958 1,551 269,862 271,413 3,525 274,938 Residential Real Estate: Pass 637 817 - 1,454 151,509 152,963 - 152,963 Special mention - - - - 850 850 - 850 Substandard - - - - 1,481 1,481 2,006 3,487 637 817 - 1,454 153,840 155,294 2,006 157,300 Commercial and Industrial: Pass 150 853 234 1,237 180,293 181,530 - 181,530 Special mention - - 101 101 2,378 2,479 - 2,479 Substandard - - - - 3,162 3,162 4,681 7,843 150 853 335 1,338 185,833 187,171 4,681 191,852 Consumer and Other: Pass 20 - 23 43 94,352 94,395 - 94,395 Substandard - - - - - - 174 174 20 - 23 43 94,352 94,395 174 94,569 Construction: Pass - 1,000 - 1,000 36,240 37,240 - 37,240 Substandard - - - - - - 8,800 8,800 - 1,000 - 1,000 36,240 37,240 8,800 46,040 Construction to Permanent - CRE: Pass - - - - 15,677 15,677 - 15,677 - - - - 15,677 15,677 - 15,677 Total $ 1,400 2,670 1,316 5,386 755,804 761,190 19,186 780,376 Loans receivable, gross: Pass $ 1,230 2,670 257 4,157 740,506 744,663 - 744,663 Special mention - - 1,059 1,059 5,901 6,960 - 6,960 Substandard 170 - - 170 9,397 9,567 19,186 28,753 Loans receivable, gross $ 1,400 2,670 1,316 5,386 755,804 761,190 19,186 780,376 The following tables summarize non-performing (i.e., non-accruing) loans by aging category and status, within the applicable loan portfolio segment as of March 31, 2019 December 31, 2018: (In thousands) Non-accruing Loans 30 - 59 60 - 89 90 Days Past Due Total Current Total As of March 31, 2019: Loan portfolio segment: Commercial Real Estate: Substandard $ - - 1,011 1,011 9,942 10,953 Residential Real Estate: Substandard 60 - 2,843 2,903 570 3,473 Commercial and Industrial: Substandard - - 3,913 3,913 719 4,632 Consumer and Other: Substandard - 102 70 172 - 172 Construction: Substandard - - - - 8,800 8,800 Total non-accruing loans $ 60 102 7,837 7,999 20,031 28,030 As of December 31, 2018: Loan portfolio segment: Commercial Real Estate: Substandard $ 1,580 - 1,945 3,525 - 3,525 Residential Real Estate: Substandard - - 2,006 2,006 - 2,006 Commercial and Industrial: Substandard - 15 3,941 3,956 725 4,681 Consumer and Other: Substandard - 86 11 97 77 174 Construction: Substandard - - 8,800 8,800 - 8,800 Total non-accruing loans $ 1,580 101 16,703 18,384 802 19,186 If non-accrual loans had been performing in accordance with the original contractual terms, additional interest income of approximately $275,000 $81,000 three March 31, 2019 2018, 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 March 31, 2019 2018, $150,000 $0, The accrual of interest on loans is discontinued at the time the loan is 90 no 180 not nine 90 not Troubled Debt Restructurings (“TDR”) On a case-by-case basis, Patriot may may Substantially all TDR loan modifications involve lowering the monthly payments on such loans through either a reduction in interest rate below market rate, an extension of the term of the loan, or a combination of adjusting these two may may six The recorded investment in TDRs was $10.9 March 31, 2019 $2.1 December 31, 2018, (In thousands) March 31, 2019 December 31, 2018 Loan portfolio segment: Number of Contracts Recorded Investment Number of Contracts Recorded Investment Commercial Real Estate 2 $ 1,073 2 $ 1,081 Residential Real Estate 1 292 1 296 Consumer and Other 2 690 2 689 Construction 1 8,800 - - Total TDR Loans 6 10,855 5 2,066 Less: TDRs included in non-accrual loans 1 (8,800 ) - - Total accrual TDR Loans 5 $ 2,055 5 $ 2,066 During the three March 31, 2019, one $8.8 $8.8 The construction loans modified in a TDR often involve reducing the interest rate for the remaining term of the loan, extending the maturity date at an interest rate lower than the current market rate for new debt with similar risk, extending the interest-only payment period, or substituting or adding a co-borrower or guarantor. There were no no three March 31, 2018. March 31, 2019 December 31, 2018, no Impaired Loans Impaired loans may March 31, 2019 December 31, 2018, $30.0 $21.2 $1.6 $1.5 not no At March 31, 2019 December 31, 2018, 29 25 may may In addition, the remaining $439,000 March 31, 2019, no The following table reflects information about the impaired loans, excluding PCI loans, by class as of March 31, 2019 December 31, 2018: (In thousands) March 31, 2019 December 31, 2018 Recorded Principal Related Recorded Principal Related With no related allowance recorded: Commercial Real Estate $ 12,026 12,145 - 4,606 5,109 - Residential Real Estate 1,760 1,768 - 670 703 - Commercial and Industrial 1,589 1,589 - 488 1,281 - Consumer and Other 861 861 - 827 867 - Construction 8,800 8,800 - 8,800 8,839 - 25,036 25,163 - 15,391 16,799 - With a related allowance recorded: Commercial Real Estate - - - - - - Residential Real Estate 2,006 2,006 563 1,632 1,632 216 Commercial and Industrial 3,009 3,009 1,062 4,158 4,208 1,299 Consumer and Other - - - 37 37 30 Construction - - - - - - 5,015 5,015 1,625 5,827 5,877 1,545 Impaired Loans, Total: Commercial Real Estate 12,026 12,145 - 4,606 5,109 - Residential Real Estate 3,766 3,774 563 2,302 2,335 216 Commercial and Industrial 4,598 4,598 1,062 4,646 5,489 1,299 Consumer and Other 861 861 - 864 904 30 Construction 8,800 8,800 - 8,800 8,839 - Impaired Loans, Total $ 30,051 30,178 1,625 21,218 22,676 1,545 The following tables summarize additional information regarding impaired loans, excluding PCI loans, by class for the three March 31, 2019 2018. (In thousands) Three Months Ended March 31, 2019 2018 Average Interest Average Interest With no related allowance recorded: Commercial Real Estate $ 6,440 13 2,205 25 Residential Real Estate 942 4 3,342 3 Commercial and Industrial 775 - 739 - Consumer and Other 841 8 691 7 Construction 8,800 150 - - 17,798 175 6,977 35 With a related allowance recorded: Commercial Real Estate 472 - - - Residential Real Estate 2,089 - - - Commercial and Industrial 3,863 - 393 - Consumer and Other 21 - 2 - Construction - - - - 6,445 - 395 - Impaired Loans, Total: Commercial Real Estate 6,912 13 2,205 25 Residential Real Estate 3,031 4 3,342 3 Commercial and Industrial 4,638 - 1,132 - Consumer and Other 862 8 693 7 Construction 8,800 150 - - Impaired Loans, Total $ 24,243 175 7,372 35 |
Note 5 - Goodwill and Other Int
Note 5 - Goodwill and Other Intangible Assets | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | Note 5 : Goodwill and Other Intangible Assets On May 10, 2018 The assets acquired and liabilities assumed from Prime Bank were recorded at their fair value as of the closing date of the acquisition. Goodwill of $2.1 $1.7 December 31, 2018, three March 31, 2019, $1.1 $621,000. no three March 31, 2019. 15 |
Note 6 - Deposits
Note 6 - Deposits | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Deposit Liabilities Disclosures [Text Block] | Note 6 : Deposits The following table presents the balance of deposits held, by category as of March 31, 2019 December 31, 2018. (In thousands) March 31, December 31, Non-interest bearing $ 82,248 $ 84,471 Interest bearing: NOW 24,924 26,100 Savings 67,708 81,912 Money market 88,493 85,197 Certificates of deposit, less than $250,000 217,701 203,683 Certificates of deposit, $250,000 or greater 88,953 78,318 Brokered deposits 182,794 183,600 Interest bearing, Total 670,573 658,810 Total Deposits $ 752,821 $ 743,281 As of March 31, 2019, (In thousands) CDs CDs Brokered Deposits Total 1 year or less $ 139,614 58,395 145,508 $ 343,517 More than 1 year through 2 years 68,372 28,199 21,320 117,891 More than 2 years through 3 years 7,972 1,519 15,467 24,958 More than 3 years through 4 years 1,316 840 499 2,655 More than 4 years through 5 years 427 - - 427 $ 217,701 88,953 182,794 $ 489,448 |
Note 7 - Share-based Compensati
Note 7 - Share-based Compensation and Employee Benefit Plan | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | Note 7 : Share-Based Compensation and Employee Benefit Plan The Company maintains the Patriot National Bancorp, Inc. 2012 2013, March 31, 2019 December 31, 2018, no The Plan provides for the issuance of up to 3,000,000 March 31, 2019, 2,870,113 may three four five The following is a summary of the status of the Company’s restricted shares as of March 31, 2019 2018 Three months ended March 31, 2019: Number Weighted Average Unvested at December 31, 2018 31,790 $ 14.06 Vested (8,936 ) $ 15.07 Unvested at March 31, 2019 22,854 $ 13.66 Three months ended March 31, 2018: Unvested at December 31, 2017 25,870 $ 12.15 Granted 14,199 $ 17.93 Vested (2,935 ) $ 14.18 Forfeited (100 ) $ 15.50 Unvested at March 31, 2018 37,034 $ 14.20 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 March 31, 2019 2018, $48,000 $53,000, $28,000 $35,000, three March 31, 2019 2018, three March 31, 2019 2018, $20,000 $18,000 $119,000 $82,000 Unrecognized compensation expense attributable to the unvested restricted shares outstanding as of March 31, 2019 $324,000, 2.3 RSA Grant - Non-executive Employees During the three March 31, 2019 2018, 0 100 6,000 January 4, 2019. Dividends On July 17, 2017, three March 31, 2019 2018, $.01 $39,000 $38,000, Retirement Plan The Company offers a 401K “401K” may 401K, 50% six three March 31, 2019 2018 401K $54,000 $51,000, |
Note 8 - Earnings Per Share
Note 8 - Earnings Per Share | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | Note 8 : 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 following table summarizes the computation of basic and diluted earnings per share for the three March 31, 2019 2018: (Net income in thousands) Three Months Ended March 31, 2019 2018 Basic earnings per share: Net income attributable to Common shareholders $ 323 $ 1,065 Divided by: Weighted average shares outstanding 3,917,312 3,900,513 Basic earnings per common share 0.08 0.27 Diluted earnings per share: Net income attributable to Common shareholders 323 1,065 Weighted average shares outstanding 3,917,312 3,900,513 Effect of potentially dilutive restricted common shares - 16,601 Divided by: Weighted average diluted shares outstanding 3,917,312 (1) 3,917,114 Diluted earnings per common share 0.08 0.27 ( 1 The weighted average diluted shares outstanding did not 448 March 31, 2019. |
Note 9 - Financial Instruments
Note 9 - Financial Instruments With Off-balance Sheet Risk | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Concentration Risk Disclosure [Text Block] | Note 9 : 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 represents 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 March 31, 2019 (In thousands) As of March 31, 2019 Commitments to extend credit: Unused lines of credit $ 58,521 Undisbursed construction loans 31,207 Home equity lines of credit 19,953 Future loan commitments 15,727 Financial standby letters of credit 1,153 $ 126,561 Commitments to extend credit are agreements to lend to a customer as long as there is no may not may $8,000 March 31, 2019, Standby letters of credit are written commitments issued by Patriot to guarantee the performance of a customer to a third not |
Note 10 - Regulatory and Operat
Note 10 - Regulatory and Operational Matters | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | Note 1 0 : Regulatory and Operational Matters In November 2018, three one The Agreement states that by December 31, 2018 3 December 31, 2018. 9B: 10 December 31, 2018. Federal and state regulatory authorities have adopted standards requiring financial institutions to maintain increased levels of capital. Effective January 1, 2015, four 1 1 “CET1” 1 Capital adequacy is one 10%, 1 8.0%, CET1 6.5%, 1 5.0%. 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 March 31, 2019 December 31, 2018 (In thousands) Patriot National Bancorp, Inc. Patriot Bank, N.A. March 31, 2019 December 31, 2018 March 31, 2019 December 31, 2018 Amount Ratio Amount Ratio Amount Ratio Amount Ratio Total Capital (to risk weighted assets): Actual 91,489 10.332 90,722 10.452 101,239 11.908 99,341 11.500 To be Well Capitalized (1) - - - - 85,016 10.000 86,384 10.000 For capital adequacy with Capital Buffer (2) - - - - 89,267 10.500 85,304 9.875 For capital adequacy 70,836 8.000 69,441 8.000 68,013 8.000 69,107 8.000 Tier 1 Capital (to risk weighted assets): Actual 73,654 8.318 73,101 8.422 93,404 10.987 91,720 10.618 To be Well Capitalized (1) - - - - 68,013 8.000 69,107 8.000 For capital adequacy with Capital Buffer (2) - - - - 72,264 8.500 68,027 7.875 For capital adequacy 53,127 6.000 52,081 6.000 51,010 6.000 51,830 6.000 Common Equity Tier 1 Capital (to risk weighted assets): Actual 65,654 7.415 65,101 7.500 93,404 10.987 91,720 10.618 To be Well Capitalized (1) - - - - 55,260 6.500 56,149 6.500 For capital adequacy with Capital Buffer (2) - - - - 59,511 7.000 55,069 6.375 For capital adequacy 39,845 4.500 39,061 4.500 38,257 4.500 38,873 4.500 Tier 1 Leverage Capital (to average assets): Actual 73,654 7.721 73,101 7.842 93,404 9.789 91,720 9.838 To be Well Capitalized (1) - - - - 47,707 5.000 46,617 5.000 For capital adequacy 38,160 4.000 37,288 4.000 38,166 4.000 37,294 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, CET1 2.5% not may The capital buffer requirement is being phased in over three 2016. 1.875% 2018 2018 2.5% 2019, 2019 The capital buffer requirement effectively raises the minimum required Total Capital ratio to 10.5%, 1 8.5% CET1 7.0% January 1, 2019. March 31, 2019, |
Note 11 - Fair Value and Intere
Note 11 - Fair Value and Interest Rate Risk | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 1 1 : Fair Value and Interest Rate Risk Patriot measures the carrying value of certain financial assets and liabilities at fair value, as required by its policies as a financial institution and by US GAAP. The carrying values of certain assets and liabilities are measured at fair value on a recurring basis, such as available-for-sale securities; while other assets and liabilities are measured at fair value on a non-recurring basis due to external factors requiring management’s judgment to estimate potential losses of value resulting in asset impairments or the establishment of valuation reserves. Measuring assets and liabilities at fair value may Following is a detailed summary of the guidance provided by US GAAP regarding the application of fair value measurements and Patriot’s application thereof. Additionally, the following information includes detailed summaries of the effects fair value measurements have on the carrying amounts of asset and liabilities presented in the Consolidated Financial Statements. The objective of fair value measurement is to value an asset that may may not The three 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 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 instruments not Cash and due from banks, federal funds sold, short-term investments, and accrued interest receivable and payable The carrying amount is a reasonable estimate of fair value and accordingly these are classified as Level 1. not Available-for-sale securities The fair value of securities available for sale (carried at fair value) 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 $4.45 not may 60 December 31, 2018 2017. $513,000 October 6, 2019, 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 The fair value of loans are estimated by discounting the future cash flows using the rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities. In connection with the adoption of ASU 2016 01 January 1, 2018, no Other Real Estate Owned The fair value of OREO the Bank may 2 3 not may Derivative asset (liability) - Interest Rate Swaps The valuation of the Company’s interest rate swaps is obtained from a third 2 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. Patriot does not Senior Notes, Subordinated Notes, and Junior Subordinated Debt Patriot does not Patriot does not June 2018 Patriot does not Federal Home Loan Bank Borrowings The 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. Patriot does not Contingent Consideration Liability The Company estimates the fair value of the contingent consideration liability by using a discounted cash flow model of future contingent payments based on interest income related to the acquired PCI loans. The estimated fair value of the contingent consideration liability is reviewed on a quarterly basis and any valuation adjustments resulting from a change of estimated future contingent payments based on interest income of the acquired PCI loans affecting the contingent consideration liability will be recorded through noninterest expense. Due to the significant unobservable input related to the interest income, the contingent consideration liability is classified within Level 3 may may Off-balance sheet financial instruments Off-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 off-balance-sheet financial instruments (i.e., commitments to extend credit) are insignificant and are not The following table provides a comparison of the carrying amounts and estimated fair values of Patriot’s financial assets and liabilities as of March 31, 2019 December 31, 2018: (In thousands) March 31, 2019 December 31, 2018 Fair Value Carrying Estimated Carrying Estimated Financial Assets: Cash and noninterest bearing balances due from banks Level 1 $ 6,661 6,661 7,381 7,381 Interest-bearing deposits due from banks Level 1 49,971 49,971 59,056 59,056 U. S. Government agency mortgage-backed securities Level 2 19,976 19,976 20,473 20,473 Corporate bonds Level 2 12,828 12,828 12,974 12,974 Subordinated notes Level 2 5,980 5,980 4,564 4,564 U.S. Treasury notes Level 2 1,491 1,491 1,485 1,485 Other investments Level 2 4,963 4,963 4,963 4,963 Federal Reserve Bank stock Level 2 2,892 2,892 2,866 2,866 Federal Home Loan Bank stock Level 2 4,513 4,513 4,928 4,928 Loans receivable, net Level 3 780,713 771,523 772,767 762,581 Accrued interest receivable Level 2 3,621 3,621 3,766 3,766 Interest swap receivable Level 2 417 417 286 286 Financial assets, total $ 894,026 884,836 895,509 885,323 Financial Liabilities: Demand deposits Level 2 $ 82,248 82,248 84,471 84,471 Savings deposits Level 2 67,708 67,708 81,912 81,912 Money market deposits Level 2 88,493 88,493 85,197 85,197 NOW accounts Level 2 24,924 24,924 26,100 26,100 Time deposits Level 2 306,654 306,260 282,001 280,538 Brokered deposits Level 1 182,794 182,804 183,600 183,120 FHLB borrowings Level 2 90,000 92,509 100,000 101,369 Senior notes Level 2 11,796 11,433 11,778 11,293 Subordinated debt Level 2 9,731 9,490 9,723 9,348 Junior subordinated debt owed to unconsolidated trust Level 2 8,096 8,096 8,094 8,094 Note payable Level 3 1,339 1,222 1,388 1,239 Accrued interest payable Level 2 1,854 1,854 1,605 1,605 Contingent consideration liability Level 3 86 86 707 707 Interest swap liability Level 2 417 417 286 286 Financial liabilities, total $ 876,140 877,544 876,862 875,279 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 operations, Patriot assumes interest rate risk (i.e., the risk that general interest rate levels will fluctuate). As a result, the fair value of the Patriot’s financial assets and liabilities are affected when interest market rates change, which change may The following tables 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 March 31, 2019 December 31, 2018: (In thousands) Quoted Prices in Significant Observable Inputs Significant Unobservable Inputs Total March 31, 2019: U. S. Government agency mortgage-backed securities $ - 19,976 - 19,976 Corporate bonds - 12,828 - 12,828 Subordinated notes - 5,980 - 5,980 U.S. Treasury notes - 1,491 - 1,491 Available-for-sale securities $ - 40,275 - 40,275 Impaired PCI Loans, net - - 439 439 Contingent consideration liability - - 86 86 Interest swap receivable - 417 - 417 Interest swap liability - 417 - 417 December 31, 2018: U. S. Government agency mortgage-backed securities $ - 20,473 - 20,473 Corporate bonds - 12,974 - 12,974 Subordinated notes - 4,564 - 4,564 U.S. Treasury notes - 1,485 - 1,485 Available-for-sale securities $ - 39,496 - 39,496 Impaired PCI Loans, net - - 615 615 Contingent consideration liability - - 707 707 Interest swap receivable - 286 - 286 Interest swap liability - 286 - 286 Patriot measures certain financial assets and financial liabilities at fair value on a non-recurring basis. When circumstances dictate (e.g., impairment of long-lived assets, other than temporary impairment of collateral value), the carrying values of such financial assets and financial liabilities are adjusted to fair value or fair value less costs to sell, as may During the three March 31, 2019, no 1, 2 3. The table below presents the valuation methodology and unobservable inputs for level 3 March 31, 2019 December 31, 2018: (In thousands) Fair Value Valuation Methodology Unobservable Inputs Range of Inputs March 31, 2019: Impaired loans, net $ 28,426 Real Estate Appraisals Discount for appraisal type 8% - 21% Other Real Estate Owned 2,945 Real Estate Appraisals Discount for appraisal type 14% December 31, 2018: Impaired loans, net $ 19,673 Real Estate Appraisals Discount for appraisal type 8% - 21% Other Real Estate Owned 2,945 Real Estate Appraisals Discount for appraisal type 14% Patriot discloses fair value information about financial instruments, whether or not not The estimated fair value amounts have been measured as of March 31, 2019 December 31, 2018, not may The information presented should not may not |
Note 12 - Derivatives
Note 12 - Derivatives | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | Note 1 2 : Derivatives Patriot is a party to interest rate derivatives that are not third not two November 2018. As of March 31, 2019 December 31, 2018, $450,000 $300,000, The following table presents summary information regarding these derivatives for the periods presented (dollars in thousands): (In thousands) Notional Amount Maturity (Years) Fixed Rate Variable Fair Value March 31, 2019: Classified in Other Assets: Customer interest rate swap $ 5,000 10.5 5.25 % 1 Mo. LIBOR + 1.96% $ 417 Classified in Other Liabilities: 3rd party interest rate swap $ 5,000 10.5 5.25 % 1 Mo. LIBOR + 1.96% $ (417 ) December 31, 2018: Classified in Other Assets: Customer interest rate swap $ 5,000 10.5 5.25 % 1 Mo. LIBOR + 1.96% $ 286 Classified in Other Liabilities: 3rd party interest rate swap $ 5,000 10.5 5.25 % 1 Mo. LIBOR + 1.96% $ (286 ) |
Note 13 - Leases
Note 13 - Leases | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | Note 1 3 : Leases A lease is defined as a contract, or part of a contract, that conveys the right to control the use of identified property, plant or equipment for a period of time in exchange for consideration. On January 1, 2019, No. 2016 02 842 842. 842 Patriot has seven four two one 2032 one 2037. not 842, no The cumulative-effect adjustment was an increase to the opening balance of accumulated deficit at the time of adoption on January 1, 2019. $3.4 $3.4 not Operating leases are recorded as a ROU lease assets and are included in other assets on the consolidated balance sheet. The Company’s corresponding lease obligations are included in accrued expenses and other liabilities on the consolidated balance sheet. ROU lease assets represent the Company’s right to use an underlying asset for the lease term and lease obligations represent the Company’s obligation to make lease payments arising from the lease. Operating ROU lease assets and obligations are recognized at the commencement date based on the present value of lease payments over the lease term. As most of the Company’s leases do not may Lease expense for lease payments is recognized on a straight-line basis over the lease term. Short-term leases are leases having a term of twelve not March 31, 2019: (in thousands) Operating lease Years ending December 31, Obligation 2019 $ 343 2020 464 2021 474 2022 435 2023 397 Thereafter 2,046 Total undiscounted lease payments 4,159 Less imputed interest (798 ) Present value of operating lease liabilities $ 3,361 Operating lease right-of-use asset $ 3,305 Three Months Ended March 31, 2019 Lease cost Operating lease cost $ 122 Short-term lease cost $ 25 Other information Operating cash flows from operating leases $ 114 Weighted -average remaining lease term - operating leases (in years) 11 Weighted -average discount rate - operating leases 3.63 % |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2019 | |
Accounting Policies [Abstract] | |
New Accounting Pronouncements, Policy [Policy Text Block] | Accounting Standards Adopted During 201 9 Effective January 1, 2019, ASU 2016 02 In February 2016, No. 2016 02, July 2018, January 1, 2019, January 1, 2019. $3.4 $3.4 not Accounting Standards Issued But Not ASU 2016 13 In June 2016, 2016 13, Financial Instruments-Credit Losses: Measurement of Credit Losses on Financial Instruments. not 2016 13 2016 13 December 15, 2019, December 15, 2018. ASU 2017 04 In January 2017, 2017 04, Intangibles-Goodwill and Other (Topic 350 2 2 not December 15, 2019. not ASU 2017 08 In March 2017, 2017 08, Premium Amortization on Purchased Callable Debt Securities December 15, 2018. December 15, 2019, December 15, 2020. 2017 08 A SU 2017 12 "Derivatives and Hedging (Topic 815 2017 12 October 2018, 2018 16, 815 2018 16 2017 12. 2017 12 December 15, 2018, 2017 12 2018 16 not ASU 2018 13 In August 2018, No. 2018 13, Fair Value Measurement (Topic 820 1 2 3 2018 13 2018 13 3 3 December 15, 2019. 3 not |
Note 3 - Available-for-sale S_2
Note 3 - Available-for-sale Securities (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Debt Securities, Available-for-sale [Table Text Block] | (In thousands) Amortized Gross Gross Fair March 31, 2019: U. S. Government agency mortgage-backed securities $ 20,017 84 (125 ) 19,976 Corporate bonds 14,000 - (1,172 ) 12,828 Subordinated notes 5,899 81 - 5,980 U.S. Treasury notes 1,488 3 - 1,491 $ 41,404 168 (1,297 ) 40,275 December 31, 2018: U. S. Government agency mortgage-backed securities $ 20,626 43 (196 ) 20,473 Corporate bonds 14,000 - (1,026 ) 12,974 Subordinated notes 4,500 64 - 4,564 U.S. Treasury notes 1,484 1 - 1,485 $ 40,610 108 (1,222 ) 39,496 |
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 March 31, 2019: U. S. Government agency mortgage-backed securities $ 2,972 (23 ) 3,778 (102 ) 6,750 (125 ) Corporate bonds - - 12,828 (1,172 ) 12,828 (1,172 ) $ 2,972 (23 ) 16,606 (1,274 ) 19,578 (1,297 ) December 31, 2018: U. S. Government agency mortgage-backed securities $ 8,024 (38 ) 5,422 (158 ) 13,446 (196 ) Corporate bonds - - 12,974 (1,026 ) 12,974 (1,026 ) $ 8,024 (38 ) 18,396 (1,184 ) 26,420 (1,222 ) |
Investments Classified by Contractual Maturity Date [Table Text Block] | (In thousands) Amortized Cost Fair Value Due Due After Due Total Due Due After Due Total March 31, 2019: Corporate bonds $ - 9,000 5,000 14,000 - 8,278 4,550 12,828 Subordinated notes - 5,899 - 5,899 - 5,980 - 5,980 U.S. Treasury notes 1,488 - - 1,488 1,491 - - 1,491 Available-for-sale securities with single maturity dates 1,488 14,899 5,000 21,387 1,491 14,258 4,550 20,299 U. S. Government agency mortgage-backed securities 9,671 2,445 7,901 20,017 9,664 2,368 7,944 19,976 $ 11,159 17,344 12,901 41,404 11,155 16,626 12,494 40,275 December 31, 2018: Corporate bonds $ - 9,000 5,000 14,000 - 8,537 4,437 12,974 Subordinated notes - 4,500 - 4,500 - 4,564 - 4,564 U.S. Treasury notes 1,484 - - 1,484 1,485 - - 1,485 Available-for-sale securities with single maturity dates 1,484 13,500 5,000 19,984 1,485 13,101 4,437 19,023 U. S. Government agency mortgage-backed securities 6,842 5,668 8,116 20,626 6,844 5,530 8,099 20,473 $ 8,326 19,168 13,116 40,610 8,329 18,631 12,536 39,496 |
Note 4 - Loans Receivable and_2
Note 4 - Loans Receivable and Allowance for Loan and Lease Losses (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | (In thousands) March 31, December 31, Loan portfolio segment: Commercial Real Estate $ 291,556 274,938 Residential Real Estate 159,985 157,300 Commercial and Industrial 177,866 191,852 Consumer and Other 95,755 94,569 Construction 45,356 46,040 Construction to Permanent - CRE 18,018 15,677 Loans receivable, gross 788,536 780,376 Allowance for loan and lease losses (7,823 ) (7,609 ) Loans receivable, net $ 780,713 772,767 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Table Text Block] | (In thousands) For the three Months Ended March 31, 2019 Accretable discount, beginning of period $ (792 ) Accretion 25 Other changes, net 573 Accretable discount, end of period $ (194 ) |
Financing Receivable, Allowance for Credit Loss [Table Text Block] | (In thousands) Commercial Residential Commercial Consumer Construction Construction Unallocated Total Three months ended March 31, 2019 Allowance for loan and lease losses: December 31, 2018 $ 1,866 1,059 3,558 641 350 108 27 7,609 Charge-offs - - - - - - - - Recoveries - - 47 2 - - - 49 Provisions (credits) (4 ) 330 (115 ) (51 ) 5 15 (15 ) 165 March 31, 2019 $ 1,862 1,389 3,490 592 355 123 12 7,823 Three months ended March 31, 2018 Allowance for loan and lease losses: December 31, 2017 $ 2,212 959 2,023 568 481 54 - 6,297 Charge-offs - - - - - - - - Recoveries 3 - - - - - - 3 Provisions (credits) 265 114 (264 ) (22 ) 7 7 78 185 March 31, 2018 $ 2,480 1,073 1,759 546 488 61 78 6,485 (In thousands) Commercial Residential Commercial Consumer Construction Construction Unallocated Total March 31, 2019 Allowance for loan and lease losses: Individually evaluated for impairment $ - 563 1,062 - - - - 1,625 Collectively evaluated for impairment 1,862 826 2,428 592 355 123 12 6,198 Total allowance for loan losses $ 1,862 1,389 3,490 592 355 123 12 7,823 Loans receivable, gross: Individually evaluated for impairment $ 12,026 3,766 4,598 861 8,800 - - 30,051 PCI loans individually evaluated for impairment - - 439 - - - - 439 Collectively evaluated for impairment 279,530 156,219 172,829 94,894 36,556 18,018 - 758,046 Total loans receivable, gross $ 291,556 159,985 177,866 95,755 45,356 18,018 - 788,536 (In thousands) Commercial Residential Commercial Consumer Construction Construction Unallocated Total December 31, 2018 Allowance for loan and lease losses: Individually evaluated for impairment $ - 216 1,299 30 - - - 1,545 Collectively evaluated for impairment 1,866 843 2,259 611 350 108 27 6,064 Total allowance for loan losses $ 1,866 1,059 3,558 641 350 108 27 7,609 Loans receivable, gross: Individually evaluated for impairment $ 4,606 2,302 4,646 864 8,800 - - 21,218 PCI loans individually evaluated for impairment - - 615 - - - - 615 Collectively evaluated for impairment 270,332 154,998 186,591 93,705 37,240 15,677 - 758,543 Total loans receivable, gross $ 274,938 157,300 191,852 94,569 46,040 15,677 - 780,376 |
Financing Receivable, Past Due [Table Text Block] | (In thousands) Performing (Accruing) Loans As of March 31, 2019: 30 - 59 Days 60 - 89 Days 90 Days Due Total Current Total Non-accruing Loans Loan portfolio segment: Commercial Real Estate: Pass $ 208 - - 208 272,278 272,486 - 272,486 Special mention - - - - 2,070 2,070 - 2,070 Substandard 583 431 - 1,014 5,033 6,047 10,953 17,000 791 431 - 1,222 279,381 280,603 10,953 291,556 Residential Real Estate: Pass 1,293 - - 1,293 153,481 154,774 - 154,774 Special mention - - - - - - - - Substandard - - - - 1,738 1,738 3,473 5,211 1,293 - - 1,293 155,219 156,512 3,473 159,985 Commercial and Industrial: Pass 454 195 600 1,249 160,419 161,668 - 161,668 Special mention - - 100 100 1,932 2,032 - 2,032 Substandard - 338 - 338 9,196 9,534 4,632 14,166 454 533 700 1,687 171,547 173,234 4,632 177,866 Consumer and Other: Pass 1,463 168 8 1,639 93,944 95,583 - 95,583 Substandard - - - - - - 172 172 1,463 168 8 1,639 93,944 95,583 172 95,755 Construction: Pass - - - - 36,556 36,556 - 36,556 Substandard - - - - - - 8,800 8,800 - - - - 36,556 36,556 8,800 45,356 Construction to Permanent - CRE: Pass - - - - 18,018 18,018 - 18,018 - - - - 18,018 18,018 - 18,018 Total $ 4,001 1,132 708 5,841 754,665 760,506 28,030 788,536 Loans receivable, gross: Pass $ 3,418 363 608 4,389 734,696 739,085 - 739,085 Special mention - - 100 100 4,002 4,102 - 4,102 Substandard 583 769 - 1,352 15,967 17,319 28,030 45,349 Loans receivable, gross $ 4,001 1,132 708 5,841 754,665 760,506 28,030 788,536 (In thousands) Performing (Accruing) Loans As of December 31, 2018: 30 - 5 9 Days 60 - 89 Days 90 Days Past Due Total Current Total Non-accruing Loans Loan portfolio segment: Commercial Real Estate: Pass $ 423 - - 423 262,435 262,858 - 262,858 Special mention - - 958 958 2,673 3,631 - 3,631 Substandard 170 - - 170 4,754 4,924 3,525 8,449 593 - 958 1,551 269,862 271,413 3,525 274,938 Residential Real Estate: Pass 637 817 - 1,454 151,509 152,963 - 152,963 Special mention - - - - 850 850 - 850 Substandard - - - - 1,481 1,481 2,006 3,487 637 817 - 1,454 153,840 155,294 2,006 157,300 Commercial and Industrial: Pass 150 853 234 1,237 180,293 181,530 - 181,530 Special mention - - 101 101 2,378 2,479 - 2,479 Substandard - - - - 3,162 3,162 4,681 7,843 150 853 335 1,338 185,833 187,171 4,681 191,852 Consumer and Other: Pass 20 - 23 43 94,352 94,395 - 94,395 Substandard - - - - - - 174 174 20 - 23 43 94,352 94,395 174 94,569 Construction: Pass - 1,000 - 1,000 36,240 37,240 - 37,240 Substandard - - - - - - 8,800 8,800 - 1,000 - 1,000 36,240 37,240 8,800 46,040 Construction to Permanent - CRE: Pass - - - - 15,677 15,677 - 15,677 - - - - 15,677 15,677 - 15,677 Total $ 1,400 2,670 1,316 5,386 755,804 761,190 19,186 780,376 Loans receivable, gross: Pass $ 1,230 2,670 257 4,157 740,506 744,663 - 744,663 Special mention - - 1,059 1,059 5,901 6,960 - 6,960 Substandard 170 - - 170 9,397 9,567 19,186 28,753 Loans receivable, gross $ 1,400 2,670 1,316 5,386 755,804 761,190 19,186 780,376 |
Financing Receivable, Nonaccrual [Table Text Block] | (In thousands) Non-accruing Loans 30 - 59 60 - 89 90 Days Past Due Total Current Total As of March 31, 2019: Loan portfolio segment: Commercial Real Estate: Substandard $ - - 1,011 1,011 9,942 10,953 Residential Real Estate: Substandard 60 - 2,843 2,903 570 3,473 Commercial and Industrial: Substandard - - 3,913 3,913 719 4,632 Consumer and Other: Substandard - 102 70 172 - 172 Construction: Substandard - - - - 8,800 8,800 Total non-accruing loans $ 60 102 7,837 7,999 20,031 28,030 As of December 31, 2018: Loan portfolio segment: Commercial Real Estate: Substandard $ 1,580 - 1,945 3,525 - 3,525 Residential Real Estate: Substandard - - 2,006 2,006 - 2,006 Commercial and Industrial: Substandard - 15 3,941 3,956 725 4,681 Consumer and Other: Substandard - 86 11 97 77 174 Construction: Substandard - - 8,800 8,800 - 8,800 Total non-accruing loans $ 1,580 101 16,703 18,384 802 19,186 |
Financing Receivable, Troubled Debt Restructuring [Table Text Block] | (In thousands) March 31, 2019 December 31, 2018 Loan portfolio segment: Number of Contracts Recorded Investment Number of Contracts Recorded Investment Commercial Real Estate 2 $ 1,073 2 $ 1,081 Residential Real Estate 1 292 1 296 Consumer and Other 2 690 2 689 Construction 1 8,800 - - Total TDR Loans 6 10,855 5 2,066 Less: TDRs included in non-accrual loans 1 (8,800 ) - - Total accrual TDR Loans 5 $ 2,055 5 $ 2,066 |
Impaired Financing Receivables [Table Text Block] | (In thousands) March 31, 2019 December 31, 2018 Recorded Principal Related Recorded Principal Related With no related allowance recorded: Commercial Real Estate $ 12,026 12,145 - 4,606 5,109 - Residential Real Estate 1,760 1,768 - 670 703 - Commercial and Industrial 1,589 1,589 - 488 1,281 - Consumer and Other 861 861 - 827 867 - Construction 8,800 8,800 - 8,800 8,839 - 25,036 25,163 - 15,391 16,799 - With a related allowance recorded: Commercial Real Estate - - - - - - Residential Real Estate 2,006 2,006 563 1,632 1,632 216 Commercial and Industrial 3,009 3,009 1,062 4,158 4,208 1,299 Consumer and Other - - - 37 37 30 Construction - - - - - - 5,015 5,015 1,625 5,827 5,877 1,545 Impaired Loans, Total: Commercial Real Estate 12,026 12,145 - 4,606 5,109 - Residential Real Estate 3,766 3,774 563 2,302 2,335 216 Commercial and Industrial 4,598 4,598 1,062 4,646 5,489 1,299 Consumer and Other 861 861 - 864 904 30 Construction 8,800 8,800 - 8,800 8,839 - Impaired Loans, Total $ 30,051 30,178 1,625 21,218 22,676 1,545 (In thousands) Three Months Ended March 31, 2019 2018 Average Interest Average Interest With no related allowance recorded: Commercial Real Estate $ 6,440 13 2,205 25 Residential Real Estate 942 4 3,342 3 Commercial and Industrial 775 - 739 - Consumer and Other 841 8 691 7 Construction 8,800 150 - - 17,798 175 6,977 35 With a related allowance recorded: Commercial Real Estate 472 - - - Residential Real Estate 2,089 - - - Commercial and Industrial 3,863 - 393 - Consumer and Other 21 - 2 - Construction - - - - 6,445 - 395 - Impaired Loans, Total: Commercial Real Estate 6,912 13 2,205 25 Residential Real Estate 3,031 4 3,342 3 Commercial and Industrial 4,638 - 1,132 - Consumer and Other 862 8 693 7 Construction 8,800 150 - - Impaired Loans, Total $ 24,243 175 7,372 35 |
Note 6 - Deposits (Tables)
Note 6 - Deposits (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Deposit Liabilities, Type [Table Text Block] | (In thousands) March 31, December 31, Non-interest bearing $ 82,248 $ 84,471 Interest bearing: NOW 24,924 26,100 Savings 67,708 81,912 Money market 88,493 85,197 Certificates of deposit, less than $250,000 217,701 203,683 Certificates of deposit, $250,000 or greater 88,953 78,318 Brokered deposits 182,794 183,600 Interest bearing, Total 670,573 658,810 Total Deposits $ 752,821 $ 743,281 |
Contractual Obligation, Fiscal Year Maturity [Table Text Block] | (In thousands) CDs CDs Brokered Deposits Total 1 year or less $ 139,614 58,395 145,508 $ 343,517 More than 1 year through 2 years 68,372 28,199 21,320 117,891 More than 2 years through 3 years 7,972 1,519 15,467 24,958 More than 3 years through 4 years 1,316 840 499 2,655 More than 4 years through 5 years 427 - - 427 $ 217,701 88,953 182,794 $ 489,448 |
Note 7 - Share-based Compensa_2
Note 7 - Share-based Compensation and Employee Benefit Plan (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block] | Three months ended March 31, 2019: Number Weighted Average Unvested at December 31, 2018 31,790 $ 14.06 Vested (8,936 ) $ 15.07 Unvested at March 31, 2019 22,854 $ 13.66 Three months ended March 31, 2018: Unvested at December 31, 2017 25,870 $ 12.15 Granted 14,199 $ 17.93 Vested (2,935 ) $ 14.18 Forfeited (100 ) $ 15.50 Unvested at March 31, 2018 37,034 $ 14.20 |
Note 8 - Earnings Per Share (Ta
Note 8 - Earnings Per Share (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | (Net income in thousands) Three Months Ended March 31, 2019 2018 Basic earnings per share: Net income attributable to Common shareholders $ 323 $ 1,065 Divided by: Weighted average shares outstanding 3,917,312 3,900,513 Basic earnings per common share 0.08 0.27 Diluted earnings per share: Net income attributable to Common shareholders 323 1,065 Weighted average shares outstanding 3,917,312 3,900,513 Effect of potentially dilutive restricted common shares - 16,601 Divided by: Weighted average diluted shares outstanding 3,917,312 (1) 3,917,114 Diluted earnings per common share 0.08 0.27 |
Note 9 - Financial Instrument_2
Note 9 - Financial Instruments With Off-balance Sheet Risk (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Schedule of Commitment to Extended Credit [Table Text Block] | (In thousands) As of March 31, 2019 Commitments to extend credit: Unused lines of credit $ 58,521 Undisbursed construction loans 31,207 Home equity lines of credit 19,953 Future loan commitments 15,727 Financial standby letters of credit 1,153 $ 126,561 |
Note 10 - Regulatory and Oper_2
Note 10 - Regulatory and Operational Matters (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
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. March 31, 2019 December 31, 2018 March 31, 2019 December 31, 2018 Amount Ratio Amount Ratio Amount Ratio Amount Ratio Total Capital (to risk weighted assets): Actual 91,489 10.332 90,722 10.452 101,239 11.908 99,341 11.500 To be Well Capitalized (1) - - - - 85,016 10.000 86,384 10.000 For capital adequacy with Capital Buffer (2) - - - - 89,267 10.500 85,304 9.875 For capital adequacy 70,836 8.000 69,441 8.000 68,013 8.000 69,107 8.000 Tier 1 Capital (to risk weighted assets): Actual 73,654 8.318 73,101 8.422 93,404 10.987 91,720 10.618 To be Well Capitalized (1) - - - - 68,013 8.000 69,107 8.000 For capital adequacy with Capital Buffer (2) - - - - 72,264 8.500 68,027 7.875 For capital adequacy 53,127 6.000 52,081 6.000 51,010 6.000 51,830 6.000 Common Equity Tier 1 Capital (to risk weighted assets): Actual 65,654 7.415 65,101 7.500 93,404 10.987 91,720 10.618 To be Well Capitalized (1) - - - - 55,260 6.500 56,149 6.500 For capital adequacy with Capital Buffer (2) - - - - 59,511 7.000 55,069 6.375 For capital adequacy 39,845 4.500 39,061 4.500 38,257 4.500 38,873 4.500 Tier 1 Leverage Capital (to average assets): Actual 73,654 7.721 73,101 7.842 93,404 9.789 91,720 9.838 To be Well Capitalized (1) - - - - 47,707 5.000 46,617 5.000 For capital adequacy 38,160 4.000 37,288 4.000 38,166 4.000 37,294 4.000 |
Note 11 - Fair Value and Inte_2
Note 11 - Fair Value and Interest Rate Risk (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Fair Value, by Balance Sheet Grouping [Table Text Block] | (In thousands) March 31, 2019 December 31, 2018 Fair Value Carrying Estimated Carrying Estimated Financial Assets: Cash and noninterest bearing balances due from banks Level 1 $ 6,661 6,661 7,381 7,381 Interest-bearing deposits due from banks Level 1 49,971 49,971 59,056 59,056 U. S. Government agency mortgage-backed securities Level 2 19,976 19,976 20,473 20,473 Corporate bonds Level 2 12,828 12,828 12,974 12,974 Subordinated notes Level 2 5,980 5,980 4,564 4,564 U.S. Treasury notes Level 2 1,491 1,491 1,485 1,485 Other investments Level 2 4,963 4,963 4,963 4,963 Federal Reserve Bank stock Level 2 2,892 2,892 2,866 2,866 Federal Home Loan Bank stock Level 2 4,513 4,513 4,928 4,928 Loans receivable, net Level 3 780,713 771,523 772,767 762,581 Accrued interest receivable Level 2 3,621 3,621 3,766 3,766 Interest swap receivable Level 2 417 417 286 286 Financial assets, total $ 894,026 884,836 895,509 885,323 Financial Liabilities: Demand deposits Level 2 $ 82,248 82,248 84,471 84,471 Savings deposits Level 2 67,708 67,708 81,912 81,912 Money market deposits Level 2 88,493 88,493 85,197 85,197 NOW accounts Level 2 24,924 24,924 26,100 26,100 Time deposits Level 2 306,654 306,260 282,001 280,538 Brokered deposits Level 1 182,794 182,804 183,600 183,120 FHLB borrowings Level 2 90,000 92,509 100,000 101,369 Senior notes Level 2 11,796 11,433 11,778 11,293 Subordinated debt Level 2 9,731 9,490 9,723 9,348 Junior subordinated debt owed to unconsolidated trust Level 2 8,096 8,096 8,094 8,094 Note payable Level 3 1,339 1,222 1,388 1,239 Accrued interest payable Level 2 1,854 1,854 1,605 1,605 Contingent consideration liability Level 3 86 86 707 707 Interest swap liability Level 2 417 417 286 286 Financial liabilities, total $ 876,140 877,544 876,862 875,279 |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | (In thousands) Quoted Prices in Significant Observable Inputs Significant Unobservable Inputs Total March 31, 2019: U. S. Government agency mortgage-backed securities $ - 19,976 - 19,976 Corporate bonds - 12,828 - 12,828 Subordinated notes - 5,980 - 5,980 U.S. Treasury notes - 1,491 - 1,491 Available-for-sale securities $ - 40,275 - 40,275 Impaired PCI Loans, net - - 439 439 Contingent consideration liability - - 86 86 Interest swap receivable - 417 - 417 Interest swap liability - 417 - 417 December 31, 2018: U. S. Government agency mortgage-backed securities $ - 20,473 - 20,473 Corporate bonds - 12,974 - 12,974 Subordinated notes - 4,564 - 4,564 U.S. Treasury notes - 1,485 - 1,485 Available-for-sale securities $ - 39,496 - 39,496 Impaired PCI Loans, net - - 615 615 Contingent consideration liability - - 707 707 Interest swap receivable - 286 - 286 Interest swap liability - 286 - 286 |
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] | (In thousands) Fair Value Valuation Methodology Unobservable Inputs Range of Inputs March 31, 2019: Impaired loans, net $ 28,426 Real Estate Appraisals Discount for appraisal type 8% - 21% Other Real Estate Owned 2,945 Real Estate Appraisals Discount for appraisal type 14% December 31, 2018: Impaired loans, net $ 19,673 Real Estate Appraisals Discount for appraisal type 8% - 21% Other Real Estate Owned 2,945 Real Estate Appraisals Discount for appraisal type 14% |
Note 12 - Derivatives (Tables)
Note 12 - Derivatives (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Schedule of Derivative Instruments [Table Text Block] | (In thousands) Notional Amount Maturity (Years) Fixed Rate Variable Fair Value March 31, 2019: Classified in Other Assets: Customer interest rate swap $ 5,000 10.5 5.25 % 1 Mo. LIBOR + 1.96% $ 417 Classified in Other Liabilities: 3rd party interest rate swap $ 5,000 10.5 5.25 % 1 Mo. LIBOR + 1.96% $ (417 ) December 31, 2018: Classified in Other Assets: Customer interest rate swap $ 5,000 10.5 5.25 % 1 Mo. LIBOR + 1.96% $ 286 Classified in Other Liabilities: 3rd party interest rate swap $ 5,000 10.5 5.25 % 1 Mo. LIBOR + 1.96% $ (286 ) |
Note 13 - Leases (Tables)
Note 13 - Leases (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | (in thousands) Operating lease Years ending December 31, Obligation 2019 $ 343 2020 464 2021 474 2022 435 2023 397 Thereafter 2,046 Total undiscounted lease payments 4,159 Less imputed interest (798 ) Present value of operating lease liabilities $ 3,361 Operating lease right-of-use asset $ 3,305 |
Lease, Cost [Table Text Block] | Three Months Ended March 31, 2019 Lease cost Operating lease cost $ 122 Short-term lease cost $ 25 Other information Operating cash flows from operating leases $ 114 Weighted -average remaining lease term - operating leases (in years) 11 Weighted -average discount rate - operating leases 3.63 % |
Note 2 - Recent Accounting Pr_2
Note 2 - Recent Accounting Pronouncements (Details Textual) - USD ($) $ in Thousands | Mar. 31, 2019 | Jan. 01, 2019 |
Operating Lease, Right-of-Use Asset | $ 3,305 | |
Operating Lease, Liability, Total | $ 3,361 | |
Accounting Standards Update 2016-02 [Member] | ||
Operating Lease, Right-of-Use Asset | $ 3,400 | |
Operating Lease, Liability, Total | $ 3,400 |
Note 3 - Available-for-sale S_3
Note 3 - Available-for-sale Securities (Details Textual) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2019USD ($) | Mar. 31, 2018USD ($) | Dec. 31, 2018USD ($) | |
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 10 | 10 | |
Number of Available-for-sale Securities | 17 | 16 | |
Unrealized Holding Losses Depreciation Percentage from Amortized Cost | 6.20% | 4.40% | |
Other than Temporary Impairment Losses, Investments, Available-for-sale Securities, Total | $ 0 | ||
Other-than-temporary Impairment Loss, Debt Securities, Available-for-sale, Total | 0 | ||
Payments to Acquire Debt Securities, Available-for-sale | $ 0 | ||
Proceeds from Sale of Debt Securities, Available-for-sale | 0 | $ 0 | |
Subordinated Notes [Member] | |||
Payments to Acquire Debt Securities, Available-for-sale | 1,400 | ||
Available-For-Sale Securities Pledged to Secure Municipal Deposits [Member] | |||
Debt Securities, Available-for-sale, Restricted | 6,900 | $ 7,000 | |
Available-For-Sale Securities Pledged to FRB of New York [Member] | |||
Debt Securities, Available-for-sale, Restricted | 5,400 | 5,500 | |
Available-For-Sale Securities Pledged to St. Louis Fed [Member] | |||
Debt Securities, Available-for-sale, Restricted | $ 1,500 | $ 1,500 |
Note 3 - Available-for-sale S_4
Note 3 - Available-for-sale Securities - Investment Securities (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Available-for-sale securities, amortized cost | $ 41,404 | $ 40,610 |
Available-for-sale securities, gross unrealized gains | 168 | 108 |
Available-for-sale securities, gross unrealized losses | (1,297) | (1,222) |
Available-for-sale securities | 40,275 | 39,496 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Available-for-sale securities, amortized cost | 20,017 | 20,626 |
Available-for-sale securities, gross unrealized gains | 84 | 43 |
Available-for-sale securities, gross unrealized losses | (125) | (196) |
Available-for-sale securities | 19,976 | 20,473 |
Corporate Debt Securities [Member] | ||
Available-for-sale securities, amortized cost | 14,000 | 14,000 |
Available-for-sale securities, gross unrealized gains | ||
Available-for-sale securities, gross unrealized losses | (1,172) | (1,026) |
Available-for-sale securities | 12,828 | 12,974 |
Subordinated Notes [Member] | ||
Available-for-sale securities, amortized cost | 5,899 | 4,500 |
Available-for-sale securities, gross unrealized gains | 81 | 64 |
Available-for-sale securities, gross unrealized losses | ||
Available-for-sale securities | 5,980 | 4,564 |
US Treasury Securities [Member] | ||
Available-for-sale securities, amortized cost | 1,488 | 1,484 |
Available-for-sale securities, gross unrealized gains | 3 | 1 |
Available-for-sale securities, gross unrealized losses | ||
Available-for-sale securities | $ 1,491 | $ 1,485 |
Note 3 - Available-for-sale S_5
Note 3 - Available-for-sale Securities - Investment Securities in a Continuous Loss Position (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Available-for-sale securities in continuous loss position, less than 12 months, fair value | $ 2,972 | $ 8,024 |
Available-for-sale securities in continuous loss position, less than 12 months, unrealized loss | (23) | (38) |
Available-for-sale securities in continuous loss position, 12 months or more, fair value | 16,606 | 18,396 |
Available-for-sale securities in continuous loss position, 12 months or more, unrealized loss | (1,274) | (1,184) |
Available-for-sale securities in continuous loss position, fair value | 19,578 | 26,420 |
Available-for-sale securities in continuous loss position, unrealized loss | (1,297) | (1,222) |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Available-for-sale securities in continuous loss position, less than 12 months, fair value | 2,972 | 8,024 |
Available-for-sale securities in continuous loss position, less than 12 months, unrealized loss | (23) | (38) |
Available-for-sale securities in continuous loss position, 12 months or more, fair value | 3,778 | 5,422 |
Available-for-sale securities in continuous loss position, 12 months or more, unrealized loss | (102) | (158) |
Available-for-sale securities in continuous loss position, fair value | 6,750 | 13,446 |
Available-for-sale securities in continuous loss position, unrealized loss | (125) | (196) |
Corporate Debt Securities [Member] | ||
Available-for-sale securities in continuous loss position, less than 12 months, fair value | ||
Available-for-sale securities in continuous loss position, less than 12 months, unrealized loss | ||
Available-for-sale securities in continuous loss position, 12 months or more, fair value | 12,828 | 12,974 |
Available-for-sale securities in continuous loss position, 12 months or more, unrealized loss | (1,172) | (1,026) |
Available-for-sale securities in continuous loss position, fair value | 12,828 | 12,974 |
Available-for-sale securities in continuous loss position, unrealized loss | $ (1,172) | $ (1,026) |
Note 3 - Available-for-sale S_6
Note 3 - Available-for-sale Securities - Investment Debt Securities by Contractual Maturity (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Amortized cost, due within 5 years | $ 11,159 | $ 8,326 |
Amortized cost, due after 5 years through 10 years | 17,344 | 19,168 |
Amortized cost, due after 10 years | 12,901 | 13,116 |
Available-for-sale securities, amortized cost | 41,404 | 40,610 |
Fair value, due within 5 years | 11,155 | 8,329 |
Fair value, due after 5 years through 10 years | 16,626 | 18,631 |
Fair value, due after 10 years | 12,494 | 12,536 |
Fair value, total | 40,275 | 39,496 |
Corporate Debt Securities [Member] | ||
Amortized cost, due within 5 years | ||
Amortized cost, due after 5 years through 10 years | 9,000 | 9,000 |
Amortized cost, due after 10 years | 5,000 | 5,000 |
Available-for-sale securities, amortized cost | 14,000 | 14,000 |
Fair value, due within 5 years | ||
Fair value, due after 5 years through 10 years | 8,278 | 8,537 |
Fair value, due after 10 years | 4,550 | 4,437 |
Fair value, total | 12,828 | 12,974 |
Subordinated Notes [Member] | ||
Amortized cost, due within 5 years | ||
Amortized cost, due after 5 years through 10 years | 5,899 | 4,500 |
Amortized cost, due after 10 years | ||
Available-for-sale securities, amortized cost | 5,899 | 4,500 |
Fair value, due within 5 years | ||
Fair value, due after 5 years through 10 years | 5,980 | 4,564 |
Fair value, due after 10 years | ||
Fair value, total | 5,980 | 4,564 |
US Treasury Securities [Member] | ||
Amortized cost, due within 5 years | 1,488 | 1,484 |
Amortized cost, due after 5 years through 10 years | ||
Amortized cost, due after 10 years | ||
Available-for-sale securities, amortized cost | 1,488 | 1,484 |
Fair value, due within 5 years | 1,491 | 1,485 |
Fair value, due after 5 years through 10 years | ||
Fair value, due after 10 years | ||
Fair value, total | 1,491 | 1,485 |
Available-for-sale Securities with Single Maturity Dates [Member] | ||
Amortized cost, due within 5 years | 1,488 | 1,484 |
Amortized cost, due after 5 years through 10 years | 14,899 | 13,500 |
Amortized cost, due after 10 years | 5,000 | 5,000 |
Available-for-sale securities, amortized cost | 21,387 | 19,984 |
Fair value, due within 5 years | 1,491 | 1,485 |
Fair value, due after 5 years through 10 years | 14,258 | 13,101 |
Fair value, due after 10 years | 4,550 | 4,437 |
Fair value, total | 20,299 | 19,023 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Amortized cost, due within 5 years | 9,671 | 6,842 |
Amortized cost, due after 5 years through 10 years | 2,445 | 5,668 |
Amortized cost, due after 10 years | 7,901 | 8,116 |
Available-for-sale securities, amortized cost | 20,017 | 20,626 |
Fair value, due within 5 years | 9,664 | 6,844 |
Fair value, due after 5 years through 10 years | 2,368 | 5,530 |
Fair value, due after 10 years | 7,944 | 8,099 |
Fair value, total | $ 19,976 | $ 20,473 |
Note 4 - Loans Receivable and_3
Note 4 - Loans Receivable and Allowance for Loan and Lease Losses (Details Textual) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2019USD ($) | Mar. 31, 2018USD ($) | Dec. 31, 2018USD ($) | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | $ 439,000 | ||
Deteriorated Loans Transferred in, Debt Securities, Accreditable Yield, Period Increase (Decrease), Total | 25,000 | ||
Payments to Acquire Loans Receivable | $ 4,804,000 | ||
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 | $ 275,000 | $ 81,000 | |
Maximum Period for Charged Off of Consumer Installment Loans | 180 days | ||
Financing Receivable, Troubled Debt Restructuring | $ 10,855,000 | $ 2,066,000 | |
Financing Receivable, Modifications, Number of Contracts | 6 | 0 | 5 |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 0 | ||
Financing Receivable, Troubled Debt Restructuring, Commitment to Lend | $ 0 | $ 0 | |
Impaired Financing Receivable, Recorded Investment, Total | 30,000,000 | 21,200,000 | |
Impaired Financing Receivable, Related Allowance | $ 1,600,000 | $ 1,500,000 | |
Number of Impaired Loans | 29 | 25 | |
Non-Accrual Loans [Member] | |||
Impaired Financing Receivable, Interest Income, Cash Basis Method, Total | $ 150,000 | $ 0 | |
Financing Receivable, Troubled Debt Restructuring | $ 8,800,000 | ||
Financing Receivable, Modifications, Number of Contracts | 1 | ||
Commercial Real Estate Portfolio Segment [Member] | |||
Maximum Percentage of Credit Extension Based on Market Value of Collateral | 75.00% | ||
Financing Receivable, Troubled Debt Restructuring | $ 1,073,000 | $ 1,081,000 | |
Financing Receivable, Modifications, Number of Contracts | 2 | 2 | |
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% | ||
Financing Receivable, Troubled Debt Restructuring | $ 8,800,000 | ||
Financing Receivable, Modifications, Number of Contracts | 1 | ||
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 8,800,000 | ||
Residential Portfolio Segment [Member] | |||
Payments to Acquire Loans Receivable | 4,800,000 | 0 | |
Financing Receivable, Troubled Debt Restructuring | $ 292,000 | $ 296,000 | |
Financing Receivable, Modifications, Number of Contracts | 1 | 1 | |
Consumer Portfolio Segment [Member] | |||
Financing Receivable, Troubled Debt Restructuring | $ 690,000 | $ 689,000 | |
Financing Receivable, Modifications, Number of Contracts | 2 | 2 | |
Consumer Portfolio Segment [Member] | Education Loans [Member] | |||
Payments to Acquire Loans Receivable | $ 0 | $ 0 | |
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 and Industrial Portfolio Segment [Member] | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | $ 439,000 | ||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Allowance for Loan Losses | $ 0 |
Note 4 - Loans Receivable and_4
Note 4 - Loans Receivable and Allowance for Loan and Lease Losses - Loan Portfolio (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | |
Allowance for loan and lease losses | $ (7,823) | $ (7,609) | $ (6,485) | $ (6,297) | |
Loans receivable, net | 780,713 | 772,767 | |||
Business Activities Loans [Member] | |||||
Loans receivable, gross | 788,536 | [1] | 780,376 | ||
Allowance for loan and lease losses | (7,823) | (7,609) | |||
Loans receivable, net | 780,713 | ||||
Acquired Loans [Member] | |||||
Loans receivable, gross | 780,376 | ||||
Allowance for loan and lease losses | (7,609) | ||||
Loans receivable, net | 772,767 | ||||
Commercial Real Estate Portfolio Segment [Member] | |||||
Allowance for loan and lease losses | (1,862) | (1,866) | (2,480) | (2,212) | |
Commercial Real Estate Portfolio Segment [Member] | Business Activities Loans [Member] | |||||
Loans receivable, gross | 291,556 | 274,938 | |||
Allowance for loan and lease losses | (1,862) | (1,866) | |||
Commercial Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | |||||
Loans receivable, gross | 274,938 | ||||
Residential Portfolio Segment [Member] | |||||
Allowance for loan and lease losses | (1,389) | (1,059) | (1,073) | (959) | |
Residential Portfolio Segment [Member] | Business Activities Loans [Member] | |||||
Loans receivable, gross | 159,985 | 157,300 | |||
Allowance for loan and lease losses | (1,389) | (1,059) | |||
Residential Portfolio Segment [Member] | Acquired Loans [Member] | |||||
Loans receivable, gross | 157,300 | ||||
Commercial Portfolio Segment [Member] | |||||
Allowance for loan and lease losses | (3,490) | (3,558) | (1,759) | (2,023) | |
Commercial Portfolio Segment [Member] | Business Activities Loans [Member] | |||||
Loans receivable, gross | 177,866 | 191,852 | |||
Allowance for loan and lease losses | (3,490) | (3,558) | |||
Commercial Portfolio Segment [Member] | Acquired Loans [Member] | |||||
Loans receivable, gross | 191,852 | ||||
Consumer Portfolio Segment [Member] | |||||
Allowance for loan and lease losses | (592) | (641) | (546) | (568) | |
Consumer Portfolio Segment [Member] | Business Activities Loans [Member] | |||||
Loans receivable, gross | 95,755 | 94,569 | |||
Allowance for loan and lease losses | (592) | (641) | |||
Consumer Portfolio Segment [Member] | Acquired Loans [Member] | |||||
Loans receivable, gross | 94,569 | ||||
Construction Portfolio Segment [Member] | |||||
Allowance for loan and lease losses | (355) | (350) | (488) | (481) | |
Construction Portfolio Segment [Member] | Business Activities Loans [Member] | |||||
Loans receivable, gross | 45,356 | 46,040 | |||
Allowance for loan and lease losses | (355) | (350) | |||
Construction Portfolio Segment [Member] | Acquired Loans [Member] | |||||
Loans receivable, gross | 46,040 | ||||
Construction to Permanent Portfolio Segment [Member] | |||||
Allowance for loan and lease losses | (123) | (108) | $ (61) | $ (54) | |
Construction to Permanent Portfolio Segment [Member] | Business Activities Loans [Member] | |||||
Loans receivable, gross | 18,018 | 15,677 | |||
Allowance for loan and lease losses | $ (123) | (108) | |||
Construction to Permanent Portfolio Segment [Member] | Acquired Loans [Member] | |||||
Loans receivable, gross | $ 15,677 | ||||
[1] |
Note 4 - Loans Receivable and_5
Note 4 - Loans Receivable and Allowance for Loan and Lease Losses - Summary of Changes in Accretable Discount for PCI (Details) $ in Thousands | 3 Months Ended |
Mar. 31, 2019USD ($) | |
Accretable discount, beginning of period | $ (792) |
Accretion | 25 |
Other changes, net | 573 |
Accretable discount, end of period | $ (194) |
Note 4 - Loans Receivable and_6
Note 4 - Loans Receivable and Allowance for Loan and Lease Losses - Allowance for Loan Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | ||||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2019 | Dec. 31, 2018 | ||
Balance | $ 7,609 | $ 6,297 | |||
Charge-offs | |||||
Recoveries | 49 | 3 | |||
Provisions (credits) | 165 | 185 | |||
Balance | 7,823 | 6,485 | |||
Total allowance for loan losses | 7,609 | 6,297 | $ 7,823 | $ 7,609 | |
Business Activities Loans [Member] | |||||
Balance | 7,609 | ||||
Balance | 7,823 | ||||
Allowance for loan losses: Individually evaluated for impairment | 1,625 | 1,545 | |||
Allowance for loan losses: Collectively evaluated for impairment | 6,198 | 6,064 | |||
Total allowance for loan losses | 7,823 | 7,823 | 7,609 | ||
Loans receivable, gross: Individually evaluated for impairment | 30,051 | 21,218 | |||
PCI loans individually evaluated for impairment | 439 | 615 | |||
Loans receivable, gross: Collectively evaluated for impairment | 758,046 | 758,543 | |||
Total loans receivable, gross | 788,536 | [1] | 780,376 | ||
Commercial Real Estate Portfolio Segment [Member] | |||||
Balance | 1,866 | 2,212 | |||
Charge-offs | 0 | 0 | |||
Recoveries | 3 | ||||
Provisions (credits) | (4) | 265 | |||
Balance | 1,862 | 2,480 | |||
Total allowance for loan losses | 1,866 | 2,212 | 1,862 | 1,866 | |
Commercial Real Estate Portfolio Segment [Member] | Business Activities Loans [Member] | |||||
Balance | 1,866 | ||||
Balance | 1,862 | ||||
Allowance for loan losses: Individually evaluated for impairment | 0 | 0 | |||
Allowance for loan losses: Collectively evaluated for impairment | 1,862 | 1,866 | |||
Total allowance for loan losses | 1,862 | 1,862 | 1,866 | ||
Loans receivable, gross: Individually evaluated for impairment | 12,026 | 4,606 | |||
PCI loans individually evaluated for impairment | |||||
Loans receivable, gross: Collectively evaluated for impairment | 279,530 | 270,332 | |||
Total loans receivable, gross | 291,556 | 274,938 | |||
Residential Portfolio Segment [Member] | |||||
Balance | 1,059 | 959 | |||
Charge-offs | 0 | ||||
Recoveries | 0 | ||||
Provisions (credits) | 330 | 114 | |||
Balance | 1,389 | 1,073 | |||
Total allowance for loan losses | 1,059 | 959 | 1,389 | 1,059 | |
Residential Portfolio Segment [Member] | Business Activities Loans [Member] | |||||
Balance | 1,059 | ||||
Balance | 1,389 | ||||
Allowance for loan losses: Individually evaluated for impairment | 563 | 216 | |||
Allowance for loan losses: Collectively evaluated for impairment | 826 | 843 | |||
Total allowance for loan losses | 1,389 | 1,389 | 1,059 | ||
Loans receivable, gross: Individually evaluated for impairment | 3,766 | 2,302 | |||
PCI loans individually evaluated for impairment | |||||
Loans receivable, gross: Collectively evaluated for impairment | 156,219 | 154,998 | |||
Total loans receivable, gross | 159,985 | 157,300 | |||
Commercial Portfolio Segment [Member] | |||||
Balance | 3,558 | 2,023 | |||
Charge-offs | 0 | ||||
Recoveries | 47 | ||||
Provisions (credits) | (115) | (264) | |||
Balance | 3,490 | 1,759 | |||
Total allowance for loan losses | 3,558 | 2,023 | 3,490 | 3,558 | |
Commercial Portfolio Segment [Member] | Business Activities Loans [Member] | |||||
Balance | 3,558 | ||||
Balance | 3,490 | ||||
Allowance for loan losses: Individually evaluated for impairment | 1,062 | 1,299 | |||
Allowance for loan losses: Collectively evaluated for impairment | 2,428 | 2,259 | |||
Total allowance for loan losses | 3,490 | 3,490 | 3,558 | ||
Loans receivable, gross: Individually evaluated for impairment | 4,598 | 4,646 | |||
PCI loans individually evaluated for impairment | 439 | ||||
Loans receivable, gross: Collectively evaluated for impairment | 172,829 | 186,591 | |||
Total loans receivable, gross | 177,866 | 191,852 | |||
Consumer Portfolio Segment [Member] | |||||
Balance | 641 | 568 | |||
Charge-offs | |||||
Recoveries | 2 | ||||
Provisions (credits) | (51) | (22) | |||
Balance | 592 | 546 | |||
Total allowance for loan losses | 641 | 568 | 592 | 641 | |
Consumer Portfolio Segment [Member] | Business Activities Loans [Member] | |||||
Balance | 641 | ||||
Balance | 592 | ||||
Allowance for loan losses: Individually evaluated for impairment | 30 | ||||
Allowance for loan losses: Collectively evaluated for impairment | 592 | 611 | |||
Total allowance for loan losses | 592 | 592 | 641 | ||
Loans receivable, gross: Individually evaluated for impairment | 861 | 864 | |||
PCI loans individually evaluated for impairment | |||||
Loans receivable, gross: Collectively evaluated for impairment | 94,894 | 93,705 | |||
Total loans receivable, gross | 95,755 | 94,569 | |||
Construction Portfolio Segment [Member] | |||||
Balance | 350 | 481 | |||
Charge-offs | 0 | 0 | |||
Recoveries | 0 | 0 | |||
Provisions (credits) | 5 | 7 | |||
Balance | 355 | 488 | |||
Total allowance for loan losses | 350 | 481 | 355 | 350 | |
Construction Portfolio Segment [Member] | Business Activities Loans [Member] | |||||
Balance | 350 | ||||
Balance | 355 | ||||
Allowance for loan losses: Individually evaluated for impairment | 0 | 0 | |||
Allowance for loan losses: Collectively evaluated for impairment | 355 | 350 | |||
Total allowance for loan losses | 355 | 355 | 350 | ||
Loans receivable, gross: Individually evaluated for impairment | 8,800 | 8,800 | |||
PCI loans individually evaluated for impairment | |||||
Loans receivable, gross: Collectively evaluated for impairment | 36,556 | 37,240 | |||
Total loans receivable, gross | 45,356 | 46,040 | |||
Construction to Permanent Portfolio Segment [Member] | |||||
Balance | 108 | 54 | |||
Charge-offs | 0 | 0 | |||
Recoveries | 0 | 0 | |||
Provisions (credits) | 15 | 7 | |||
Balance | 123 | 61 | |||
Total allowance for loan losses | 108 | 54 | 123 | 108 | |
Construction to Permanent Portfolio Segment [Member] | Business Activities Loans [Member] | |||||
Balance | 108 | ||||
Balance | 123 | ||||
Allowance for loan losses: Individually evaluated for impairment | 0 | 0 | |||
Allowance for loan losses: Collectively evaluated for impairment | 123 | 108 | |||
Total allowance for loan losses | 123 | 123 | 108 | ||
Loans receivable, gross: Individually evaluated for impairment | 0 | 0 | |||
PCI loans individually evaluated for impairment | |||||
Loans receivable, gross: Collectively evaluated for impairment | 18,018 | 15,677 | |||
Total loans receivable, gross | 18,018 | 15,677 | |||
Unallocated Financing Receivables [Member] | |||||
Balance | 27 | ||||
Charge-offs | 0 | 0 | |||
Recoveries | 0 | 0 | |||
Provisions (credits) | (15) | 78 | |||
Balance | 12 | 78 | |||
Total allowance for loan losses | 27 | 12 | 27 | ||
Unallocated Financing Receivables [Member] | Business Activities Loans [Member] | |||||
Balance | 27 | ||||
Balance | 12 | ||||
Allowance for loan losses: Individually evaluated for impairment | 0 | 0 | |||
Allowance for loan losses: Collectively evaluated for impairment | 12 | 27 | |||
Total allowance for loan losses | $ 12 | 12 | 27 | ||
Loans receivable, gross: Individually evaluated for impairment | 0 | 0 | |||
PCI loans individually evaluated for impairment | |||||
Loans receivable, gross: Collectively evaluated for impairment | 0 | ||||
Total loans receivable, gross | 0 | ||||
Commercial and Industrial Portfolio Segment [Member] | Business Activities Loans [Member] | |||||
PCI loans individually evaluated for impairment | $ 615 | ||||
[1] |
Note 4 - Loans Receivable and_7
Note 4 - Loans Receivable and Allowance for Loan and Lease Losses - Delinquency Status of Performing and Non-performing Loans (Details) - Business Activities Loans [Member] - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 | |
Loans receivable, gross | $ 788,536 | [1] | $ 780,376 |
Non-accruing loans | 28,030 | 19,186 | |
Commercial Real Estate Portfolio Segment [Member] | |||
Loans receivable, gross | 291,556 | 274,938 | |
Non-accruing loans | 10,953 | 3,525 | |
Residential Portfolio Segment [Member] | |||
Loans receivable, gross | 159,985 | 157,300 | |
Non-accruing loans | 3,473 | 2,006 | |
Commercial Portfolio Segment [Member] | |||
Loans receivable, gross | 177,866 | 191,852 | |
Non-accruing loans | 4,632 | 4,681 | |
Consumer Portfolio Segment [Member] | |||
Loans receivable, gross | 95,755 | 94,569 | |
Non-accruing loans | 172 | 174 | |
Construction Portfolio Segment [Member] | |||
Loans receivable, gross | 45,356 | 46,040 | |
Non-accruing loans | 8,800 | 8,800 | |
Construction to Permanent Portfolio Segment [Member] | |||
Loans receivable, gross | 18,018 | 15,677 | |
Non-accruing loans | |||
Pass [Member] | |||
Loans receivable, gross | 739,085 | 744,663 | |
Non-accruing loans | |||
Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | |||
Loans receivable, gross | 272,486 | 262,858 | |
Non-accruing loans | |||
Pass [Member] | Residential Portfolio Segment [Member] | |||
Loans receivable, gross | 154,774 | 152,963 | |
Non-accruing loans | |||
Pass [Member] | Commercial Portfolio Segment [Member] | |||
Loans receivable, gross | 161,668 | 181,530 | |
Non-accruing loans | |||
Pass [Member] | Consumer Portfolio Segment [Member] | |||
Loans receivable, gross | 95,583 | 94,395 | |
Non-accruing loans | |||
Pass [Member] | Construction Portfolio Segment [Member] | |||
Loans receivable, gross | 36,556 | 37,240 | |
Non-accruing loans | |||
Pass [Member] | Construction to Permanent Portfolio Segment [Member] | |||
Loans receivable, gross | 18,018 | 15,677 | |
Non-accruing loans | |||
Special Mention [Member] | |||
Loans receivable, gross | 4,102 | 6,960 | |
Non-accruing loans | |||
Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | |||
Loans receivable, gross | 2,070 | 3,631 | |
Non-accruing loans | |||
Special Mention [Member] | Residential Portfolio Segment [Member] | |||
Loans receivable, gross | 850 | ||
Non-accruing loans | |||
Special Mention [Member] | Commercial and Industrial Portfolio Segment [Member] | |||
Loans receivable, gross | 2,032 | 2,479 | |
Non-accruing loans | |||
Substandard [Member] | |||
Loans receivable, gross | 45,349 | 28,753 | |
Non-accruing loans | 28,030 | 19,186 | |
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | |||
Loans receivable, gross | 17,000 | 8,449 | |
Non-accruing loans | 10,953 | 3,525 | |
Substandard [Member] | Residential Portfolio Segment [Member] | |||
Loans receivable, gross | 5,211 | 3,487 | |
Non-accruing loans | 3,473 | 2,006 | |
Substandard [Member] | Commercial Portfolio Segment [Member] | |||
Loans receivable, gross | 14,166 | 7,843 | |
Non-accruing loans | 4,632 | 4,681 | |
Substandard [Member] | Commercial and Industrial Portfolio Segment [Member] | |||
Non-accruing loans | 4,681 | ||
Substandard [Member] | Consumer Portfolio Segment [Member] | |||
Loans receivable, gross | 172 | 174 | |
Non-accruing loans | 172 | 174 | |
Substandard [Member] | Construction Portfolio Segment [Member] | |||
Loans receivable, gross | 8,800 | 8,800 | |
Non-accruing loans | 8,800 | 8,800 | |
Performing Financial Instruments [Member] | |||
Performing (accruing) loans, past due | 5,841 | 5,386 | |
Performing (accruing) loans, current | 754,665 | 755,804 | |
Loans receivable, gross | 760,506 | 761,190 | |
Performing Financial Instruments [Member] | Commercial Real Estate Portfolio Segment [Member] | |||
Performing (accruing) loans, past due | 1,222 | 1,551 | |
Performing (accruing) loans, current | 279,381 | 269,862 | |
Loans receivable, gross | 280,603 | 271,413 | |
Performing Financial Instruments [Member] | Residential Portfolio Segment [Member] | |||
Performing (accruing) loans, past due | 1,293 | 1,454 | |
Performing (accruing) loans, current | 155,219 | 153,840 | |
Loans receivable, gross | 156,512 | 155,294 | |
Performing Financial Instruments [Member] | Commercial Portfolio Segment [Member] | |||
Performing (accruing) loans, past due | 1,687 | 1,338 | |
Performing (accruing) loans, current | 171,547 | 185,833 | |
Loans receivable, gross | 173,234 | 187,171 | |
Performing Financial Instruments [Member] | Consumer Portfolio Segment [Member] | |||
Performing (accruing) loans, past due | 1,639 | 43 | |
Performing (accruing) loans, current | 93,944 | 94,352 | |
Loans receivable, gross | 95,583 | 94,395 | |
Performing Financial Instruments [Member] | Construction Portfolio Segment [Member] | |||
Performing (accruing) loans, past due | 1,000 | ||
Performing (accruing) loans, current | 36,556 | 36,240 | |
Loans receivable, gross | 36,556 | 37,240 | |
Performing Financial Instruments [Member] | Construction to Permanent Portfolio Segment [Member] | |||
Performing (accruing) loans, past due | |||
Performing (accruing) loans, current | 18,018 | 15,677 | |
Loans receivable, gross | 18,018 | 15,677 | |
Performing Financial Instruments [Member] | Pass [Member] | |||
Performing (accruing) loans, past due | 4,389 | 4,157 | |
Performing (accruing) loans, current | 734,696 | 740,506 | |
Loans receivable, gross | 739,085 | 744,663 | |
Performing Financial Instruments [Member] | Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | |||
Performing (accruing) loans, past due | 208 | 423 | |
Performing (accruing) loans, current | 272,278 | 262,435 | |
Loans receivable, gross | 272,486 | 262,858 | |
Performing Financial Instruments [Member] | Pass [Member] | Residential Portfolio Segment [Member] | |||
Performing (accruing) loans, past due | 1,293 | 1,454 | |
Performing (accruing) loans, current | 153,481 | 151,509 | |
Loans receivable, gross | 154,774 | 152,963 | |
Performing Financial Instruments [Member] | Pass [Member] | Commercial Portfolio Segment [Member] | |||
Performing (accruing) loans, past due | 1,249 | 1,237 | |
Performing (accruing) loans, current | 160,419 | 180,293 | |
Loans receivable, gross | 161,668 | 181,530 | |
Performing Financial Instruments [Member] | Pass [Member] | Consumer Portfolio Segment [Member] | |||
Performing (accruing) loans, past due | 1,639 | 43 | |
Performing (accruing) loans, current | 93,944 | 94,352 | |
Loans receivable, gross | 95,583 | 94,395 | |
Performing Financial Instruments [Member] | Pass [Member] | Construction Portfolio Segment [Member] | |||
Performing (accruing) loans, past due | 1,000 | ||
Performing (accruing) loans, current | 36,556 | 36,240 | |
Loans receivable, gross | 36,556 | 37,240 | |
Performing Financial Instruments [Member] | Pass [Member] | Construction to Permanent Portfolio Segment [Member] | |||
Performing (accruing) loans, past due | |||
Performing (accruing) loans, current | 18,018 | 15,677 | |
Loans receivable, gross | 18,018 | 15,677 | |
Performing Financial Instruments [Member] | Special Mention [Member] | |||
Performing (accruing) loans, past due | 100 | 1,059 | |
Performing (accruing) loans, current | 4,002 | 5,901 | |
Loans receivable, gross | 4,102 | 6,960 | |
Performing Financial Instruments [Member] | Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | |||
Performing (accruing) loans, past due | 958 | ||
Performing (accruing) loans, current | 2,070 | 2,673 | |
Loans receivable, gross | 2,070 | 3,631 | |
Performing Financial Instruments [Member] | Special Mention [Member] | Residential Portfolio Segment [Member] | |||
Performing (accruing) loans, past due | |||
Performing (accruing) loans, current | 850 | ||
Loans receivable, gross | 850 | ||
Performing Financial Instruments [Member] | Special Mention [Member] | Commercial and Industrial Portfolio Segment [Member] | |||
Performing (accruing) loans, past due | 100 | 101 | |
Performing (accruing) loans, current | 1,932 | 2,378 | |
Loans receivable, gross | 2,032 | 2,479 | |
Performing Financial Instruments [Member] | Substandard [Member] | |||
Performing (accruing) loans, past due | 1,352 | 170 | |
Performing (accruing) loans, current | 15,967 | 9,397 | |
Loans receivable, gross | 17,319 | 9,567 | |
Performing Financial Instruments [Member] | Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | |||
Performing (accruing) loans, past due | 1,014 | 170 | |
Performing (accruing) loans, current | 5,033 | 4,754 | |
Loans receivable, gross | 6,047 | 4,924 | |
Performing Financial Instruments [Member] | Substandard [Member] | Residential Portfolio Segment [Member] | |||
Performing (accruing) loans, past due | |||
Performing (accruing) loans, current | 1,738 | 1,481 | |
Loans receivable, gross | 1,738 | 1,481 | |
Performing Financial Instruments [Member] | Substandard [Member] | Commercial Portfolio Segment [Member] | |||
Performing (accruing) loans, past due | 338 | ||
Performing (accruing) loans, current | 9,196 | 3,162 | |
Loans receivable, gross | 9,534 | 3,162 | |
Performing Financial Instruments [Member] | Substandard [Member] | Consumer Portfolio Segment [Member] | |||
Performing (accruing) loans, past due | |||
Performing (accruing) loans, current | |||
Loans receivable, gross | |||
Performing Financial Instruments [Member] | Substandard [Member] | Construction Portfolio Segment [Member] | |||
Performing (accruing) loans, past due | |||
Performing (accruing) loans, current | |||
Loans receivable, gross | |||
Financial Asset, 30 to 59 Days Past Due [Member] | Performing Financial Instruments [Member] | |||
Performing (accruing) loans, past due | 4,001 | 1,400 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Performing Financial Instruments [Member] | Commercial Real Estate Portfolio Segment [Member] | |||
Performing (accruing) loans, past due | 791 | 593 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Performing Financial Instruments [Member] | Residential Portfolio Segment [Member] | |||
Performing (accruing) loans, past due | 1,293 | 637 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Performing Financial Instruments [Member] | Commercial Portfolio Segment [Member] | |||
Performing (accruing) loans, past due | 454 | 150 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Performing Financial Instruments [Member] | Consumer Portfolio Segment [Member] | |||
Performing (accruing) loans, past due | 1,463 | 20 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Performing Financial Instruments [Member] | Construction Portfolio Segment [Member] | |||
Performing (accruing) loans, past due | |||
Financial Asset, 30 to 59 Days Past Due [Member] | Performing Financial Instruments [Member] | Construction to Permanent Portfolio Segment [Member] | |||
Performing (accruing) loans, past due | |||
Financial Asset, 30 to 59 Days Past Due [Member] | Performing Financial Instruments [Member] | Pass [Member] | |||
Performing (accruing) loans, past due | 3,418 | 1,230 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Performing Financial Instruments [Member] | Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | |||
Performing (accruing) loans, past due | 208 | 423 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Performing Financial Instruments [Member] | Pass [Member] | Residential Portfolio Segment [Member] | |||
Performing (accruing) loans, past due | 1,293 | 637 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Performing Financial Instruments [Member] | Pass [Member] | Commercial Portfolio Segment [Member] | |||
Performing (accruing) loans, past due | 454 | 150 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Performing Financial Instruments [Member] | Pass [Member] | Consumer Portfolio Segment [Member] | |||
Performing (accruing) loans, past due | 1,463 | 20 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Performing Financial Instruments [Member] | Pass [Member] | Construction Portfolio Segment [Member] | |||
Performing (accruing) loans, past due | |||
Financial Asset, 30 to 59 Days Past Due [Member] | Performing Financial Instruments [Member] | Pass [Member] | Construction to Permanent Portfolio Segment [Member] | |||
Performing (accruing) loans, past due | |||
Financial Asset, 30 to 59 Days Past Due [Member] | Performing Financial Instruments [Member] | Special Mention [Member] | |||
Performing (accruing) loans, past due | |||
Financial Asset, 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 | |||
Financial Asset, 30 to 59 Days Past Due [Member] | Performing Financial Instruments [Member] | Special Mention [Member] | Residential Portfolio Segment [Member] | |||
Performing (accruing) loans, past due | |||
Financial Asset, 30 to 59 Days Past Due [Member] | Performing Financial Instruments [Member] | Special Mention [Member] | Commercial and Industrial Portfolio Segment [Member] | |||
Performing (accruing) loans, past due | |||
Financial Asset, 30 to 59 Days Past Due [Member] | Performing Financial Instruments [Member] | Substandard [Member] | |||
Performing (accruing) loans, past due | 583 | 170 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Performing Financial Instruments [Member] | Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | |||
Performing (accruing) loans, past due | 583 | 170 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Performing Financial Instruments [Member] | Substandard [Member] | Residential Portfolio Segment [Member] | |||
Performing (accruing) loans, past due | |||
Financial Asset, 30 to 59 Days Past Due [Member] | Performing Financial Instruments [Member] | Substandard [Member] | Commercial Portfolio Segment [Member] | |||
Performing (accruing) loans, past due | |||
Financial Asset, 30 to 59 Days Past Due [Member] | Performing Financial Instruments [Member] | Substandard [Member] | Consumer Portfolio Segment [Member] | |||
Performing (accruing) loans, past due | |||
Financial Asset, 30 to 59 Days Past Due [Member] | Performing Financial Instruments [Member] | Substandard [Member] | Construction Portfolio Segment [Member] | |||
Performing (accruing) loans, past due | |||
Financial Asset, 60 to 89 Days Past Due [Member] | Performing Financial Instruments [Member] | |||
Performing (accruing) loans, past due | 1,132 | 2,670 | |
Financial Asset, 60 to 89 Days Past Due [Member] | Performing Financial Instruments [Member] | Commercial Real Estate Portfolio Segment [Member] | |||
Performing (accruing) loans, past due | 431 | ||
Financial Asset, 60 to 89 Days Past Due [Member] | Performing Financial Instruments [Member] | Residential Portfolio Segment [Member] | |||
Performing (accruing) loans, past due | 817 | ||
Financial Asset, 60 to 89 Days Past Due [Member] | Performing Financial Instruments [Member] | Commercial Portfolio Segment [Member] | |||
Performing (accruing) loans, past due | 533 | 853 | |
Financial Asset, 60 to 89 Days Past Due [Member] | Performing Financial Instruments [Member] | Consumer Portfolio Segment [Member] | |||
Performing (accruing) loans, past due | 168 | ||
Financial Asset, 60 to 89 Days Past Due [Member] | Performing Financial Instruments [Member] | Construction Portfolio Segment [Member] | |||
Performing (accruing) loans, past due | 1,000 | ||
Financial Asset, 60 to 89 Days Past Due [Member] | Performing Financial Instruments [Member] | Construction to Permanent Portfolio Segment [Member] | |||
Performing (accruing) loans, past due | |||
Financial Asset, 60 to 89 Days Past Due [Member] | Performing Financial Instruments [Member] | Pass [Member] | |||
Performing (accruing) loans, past due | 363 | 2,670 | |
Financial Asset, 60 to 89 Days Past Due [Member] | Performing Financial Instruments [Member] | Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | |||
Performing (accruing) loans, past due | |||
Financial Asset, 60 to 89 Days Past Due [Member] | Performing Financial Instruments [Member] | Pass [Member] | Residential Portfolio Segment [Member] | |||
Performing (accruing) loans, past due | 817 | ||
Financial Asset, 60 to 89 Days Past Due [Member] | Performing Financial Instruments [Member] | Pass [Member] | Commercial Portfolio Segment [Member] | |||
Performing (accruing) loans, past due | 195 | 853 | |
Financial Asset, 60 to 89 Days Past Due [Member] | Performing Financial Instruments [Member] | Pass [Member] | Consumer Portfolio Segment [Member] | |||
Performing (accruing) loans, past due | 168 | ||
Financial Asset, 60 to 89 Days Past Due [Member] | Performing Financial Instruments [Member] | Pass [Member] | Construction Portfolio Segment [Member] | |||
Performing (accruing) loans, past due | 1,000 | ||
Financial Asset, 60 to 89 Days Past Due [Member] | Performing Financial Instruments [Member] | Pass [Member] | Construction to Permanent Portfolio Segment [Member] | |||
Performing (accruing) loans, past due | |||
Financial Asset, 60 to 89 Days Past Due [Member] | Performing Financial Instruments [Member] | Special Mention [Member] | |||
Performing (accruing) loans, past due | |||
Financial Asset, 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 | |||
Financial Asset, 60 to 89 Days Past Due [Member] | Performing Financial Instruments [Member] | Special Mention [Member] | Residential Portfolio Segment [Member] | |||
Performing (accruing) loans, past due | |||
Financial Asset, 60 to 89 Days Past Due [Member] | Performing Financial Instruments [Member] | Special Mention [Member] | Commercial and Industrial Portfolio Segment [Member] | |||
Performing (accruing) loans, past due | |||
Financial Asset, 60 to 89 Days Past Due [Member] | Performing Financial Instruments [Member] | Substandard [Member] | |||
Performing (accruing) loans, past due | 769 | ||
Financial Asset, 60 to 89 Days Past Due [Member] | Performing Financial Instruments [Member] | Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | |||
Performing (accruing) loans, past due | 431 | ||
Financial Asset, 60 to 89 Days Past Due [Member] | Performing Financial Instruments [Member] | Substandard [Member] | Residential Portfolio Segment [Member] | |||
Performing (accruing) loans, past due | |||
Financial Asset, 60 to 89 Days Past Due [Member] | Performing Financial Instruments [Member] | Substandard [Member] | Commercial Portfolio Segment [Member] | |||
Performing (accruing) loans, past due | 338 | ||
Financial Asset, 60 to 89 Days Past Due [Member] | Performing Financial Instruments [Member] | Substandard [Member] | Consumer Portfolio Segment [Member] | |||
Performing (accruing) loans, past due | |||
Financial Asset, 60 to 89 Days Past Due [Member] | Performing Financial Instruments [Member] | Substandard [Member] | Construction Portfolio Segment [Member] | |||
Performing (accruing) loans, past due | |||
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Performing Financial Instruments [Member] | |||
Performing (accruing) loans, past due | 708 | 1,316 | |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Performing Financial Instruments [Member] | Commercial Real Estate Portfolio Segment [Member] | |||
Performing (accruing) loans, past due | 958 | ||
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Performing Financial Instruments [Member] | Residential Portfolio Segment [Member] | |||
Performing (accruing) loans, past due | |||
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Performing Financial Instruments [Member] | Commercial Portfolio Segment [Member] | |||
Performing (accruing) loans, past due | 700 | 335 | |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Performing Financial Instruments [Member] | Consumer Portfolio Segment [Member] | |||
Performing (accruing) loans, past due | 8 | 23 | |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Performing Financial Instruments [Member] | Construction Portfolio Segment [Member] | |||
Performing (accruing) loans, past due | |||
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Performing Financial Instruments [Member] | Construction to Permanent Portfolio Segment [Member] | |||
Performing (accruing) loans, past due | |||
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Performing Financial Instruments [Member] | Pass [Member] | |||
Performing (accruing) loans, past due | 608 | 257 | |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Performing Financial Instruments [Member] | Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | |||
Performing (accruing) loans, past due | |||
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Performing Financial Instruments [Member] | Pass [Member] | Residential Portfolio Segment [Member] | |||
Performing (accruing) loans, past due | |||
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Performing Financial Instruments [Member] | Pass [Member] | Commercial Portfolio Segment [Member] | |||
Performing (accruing) loans, past due | 600 | 234 | |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Performing Financial Instruments [Member] | Pass [Member] | Consumer Portfolio Segment [Member] | |||
Performing (accruing) loans, past due | 8 | 23 | |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Performing Financial Instruments [Member] | Pass [Member] | Construction Portfolio Segment [Member] | |||
Performing (accruing) loans, past due | |||
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Performing Financial Instruments [Member] | Pass [Member] | Construction to Permanent Portfolio Segment [Member] | |||
Performing (accruing) loans, past due | |||
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Performing Financial Instruments [Member] | Special Mention [Member] | |||
Performing (accruing) loans, past due | 100 | 1,059 | |
Financial Asset, Equal to or 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 | 958 | ||
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Performing Financial Instruments [Member] | Special Mention [Member] | Residential Portfolio Segment [Member] | |||
Performing (accruing) loans, past due | |||
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Performing Financial Instruments [Member] | Special Mention [Member] | Commercial and Industrial Portfolio Segment [Member] | |||
Performing (accruing) loans, past due | 100 | 101 | |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Performing Financial Instruments [Member] | Substandard [Member] | |||
Performing (accruing) loans, past due | |||
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Performing Financial Instruments [Member] | Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | |||
Performing (accruing) loans, past due | |||
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Performing Financial Instruments [Member] | Substandard [Member] | Residential Portfolio Segment [Member] | |||
Performing (accruing) loans, past due | |||
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Performing Financial Instruments [Member] | Substandard [Member] | Commercial Portfolio Segment [Member] | |||
Performing (accruing) loans, past due | |||
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Performing Financial Instruments [Member] | Substandard [Member] | Consumer Portfolio Segment [Member] | |||
Performing (accruing) loans, past due | |||
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Performing Financial Instruments [Member] | Substandard [Member] | Construction Portfolio Segment [Member] | |||
Performing (accruing) loans, past due | |||
[1] |
Note 4 - Loans Receivable and_8
Note 4 - Loans Receivable and Allowance for Loan and Lease Losses - Non-accrual Loans (Details) - Business Activities Loans [Member] - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Non-accruing loans | $ 28,030 | $ 19,186 |
Commercial Real Estate Portfolio Segment [Member] | ||
Non-accruing loans | 10,953 | 3,525 |
Residential Portfolio Segment [Member] | ||
Non-accruing loans | 3,473 | 2,006 |
Commercial Portfolio Segment [Member] | ||
Non-accruing loans | 4,632 | 4,681 |
Consumer Portfolio Segment [Member] | ||
Non-accruing loans | 172 | 174 |
Construction Portfolio Segment [Member] | ||
Non-accruing loans | 8,800 | 8,800 |
Substandard [Member] | ||
Non-accruing loans | 28,030 | 19,186 |
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Non-accruing loans | 10,953 | 3,525 |
Substandard [Member] | Residential Portfolio Segment [Member] | ||
Non-accruing loans | 3,473 | 2,006 |
Substandard [Member] | Commercial Portfolio Segment [Member] | ||
Non-accruing loans | 4,632 | 4,681 |
Substandard [Member] | Consumer Portfolio Segment [Member] | ||
Non-accruing loans | 172 | 174 |
Substandard [Member] | Construction Portfolio Segment [Member] | ||
Non-accruing loans | 8,800 | 8,800 |
Substandard [Member] | Commercial and Industrial Portfolio Segment [Member] | ||
Non-accruing loans | 4,681 | |
Substandard [Member] | Non-Accrual Loans [Member] | ||
Performing (accruing) loans, past due | 7,999 | 18,384 |
Performing (accruing) loans, current | 20,031 | 802 |
Substandard [Member] | Non-Accrual Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | 1,011 | 3,525 |
Performing (accruing) loans, current | 9,942 | |
Substandard [Member] | Non-Accrual Loans [Member] | Residential Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | 2,903 | 2,006 |
Performing (accruing) loans, current | 570 | |
Substandard [Member] | Non-Accrual Loans [Member] | Commercial Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | 3,913 | |
Performing (accruing) loans, current | 719 | |
Substandard [Member] | Non-Accrual Loans [Member] | Consumer Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | 172 | 97 |
Performing (accruing) loans, current | 77 | |
Substandard [Member] | Non-Accrual Loans [Member] | Construction Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | 8,800 | |
Performing (accruing) loans, current | 8,800 | |
Substandard [Member] | Non-Accrual Loans [Member] | Commercial and Industrial Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | 3,956 | |
Performing (accruing) loans, current | 725 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Substandard [Member] | Non-Accrual Loans [Member] | ||
Performing (accruing) loans, past due | 60 | 1,580 |
Financial Asset, 30 to 59 Days Past Due [Member] | Substandard [Member] | Non-Accrual Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | 1,580 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Substandard [Member] | Non-Accrual Loans [Member] | Residential Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | 60 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Substandard [Member] | Non-Accrual Loans [Member] | Commercial Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | 0 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Substandard [Member] | Non-Accrual Loans [Member] | Consumer Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | 0 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Substandard [Member] | Non-Accrual Loans [Member] | Construction Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | ||
Financial Asset, 30 to 59 Days Past Due [Member] | Substandard [Member] | Non-Accrual Loans [Member] | Commercial and Industrial Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | ||
Financial Asset, 60 to 89 Days Past Due [Member] | Substandard [Member] | Non-Accrual Loans [Member] | ||
Performing (accruing) loans, past due | 102 | 101 |
Financial Asset, 60 to 89 Days Past Due [Member] | Substandard [Member] | Non-Accrual Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | 0 | |
Financial Asset, 60 to 89 Days Past Due [Member] | Substandard [Member] | Non-Accrual Loans [Member] | Residential Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | 0 | |
Financial Asset, 60 to 89 Days Past Due [Member] | Substandard [Member] | Non-Accrual Loans [Member] | Commercial Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | ||
Financial Asset, 60 to 89 Days Past Due [Member] | Substandard [Member] | Non-Accrual Loans [Member] | Consumer Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | 102 | 86 |
Financial Asset, 60 to 89 Days Past Due [Member] | Substandard [Member] | Non-Accrual Loans [Member] | Construction Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | ||
Financial Asset, 60 to 89 Days Past Due [Member] | Substandard [Member] | Non-Accrual Loans [Member] | Commercial and Industrial Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | 15 | |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Substandard [Member] | Non-Accrual Loans [Member] | ||
Performing (accruing) loans, past due | 7,837 | 16,703 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Substandard [Member] | Non-Accrual Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | 1,011 | 1,945 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Substandard [Member] | Non-Accrual Loans [Member] | Residential Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | 2,843 | 2,006 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Substandard [Member] | Non-Accrual Loans [Member] | Commercial Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | 3,913 | |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Substandard [Member] | Non-Accrual Loans [Member] | Consumer Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | 70 | 11 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Substandard [Member] | Non-Accrual Loans [Member] | Construction Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | 8,800 | |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Substandard [Member] | Non-Accrual Loans [Member] | Commercial and Industrial Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | $ 3,941 |
Note 4 - Loans Receivable and_9
Note 4 - Loans Receivable and Allowance for Loan and Lease Losses - Recorded Investment in TDRs (Details) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2019USD ($) | Mar. 31, 2018 | Dec. 31, 2018USD ($) | |
Number of contracts | 6 | 0 | 5 |
Recorded investment | $ 10,855,000 | $ 2,066,000 | |
Recorded investment | $ (10,855,000) | $ (2,066,000) | |
Non-Accrual Loans [Member] | |||
Number of contracts | 1 | ||
Recorded investment | $ 8,800,000 | ||
Recorded investment | $ (8,800,000) | ||
Accrual Loans [Member] | |||
Number of contracts | 5 | 5 | |
Recorded investment | $ 2,055,000 | $ 2,066,000 | |
Recorded investment | $ (2,055,000) | $ (2,066,000) | |
Commercial Real Estate Portfolio Segment [Member] | |||
Number of contracts | 2 | 2 | |
Recorded investment | $ 1,073,000 | $ 1,081,000 | |
Recorded investment | $ (1,073,000) | $ (1,081,000) | |
Residential Portfolio Segment [Member] | |||
Number of contracts | 1 | 1 | |
Recorded investment | $ 292,000 | $ 296,000 | |
Recorded investment | $ (292,000) | $ (296,000) | |
Consumer Portfolio Segment [Member] | |||
Number of contracts | 2 | 2 | |
Recorded investment | $ 690,000 | $ 689,000 | |
Recorded investment | $ (690,000) | $ (689,000) | |
Construction Portfolio Segment [Member] | |||
Number of contracts | 1 | ||
Recorded investment | $ 8,800,000 | ||
Recorded investment | $ (8,800,000) |
Note 4 - Loans Receivable an_10
Note 4 - Loans Receivable and Allowance for Loan and Lease Losses - Impaired Loans (Details) - USD ($) | 3 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Dec. 31, 2018 | |
Impaired loans, related allowance | $ 1,600,000 | $ 1,500,000 | |
Impaired loans, recorded investment | 30,000,000 | 21,200,000 | |
With no allowance recorded, average recorded investment | 17,798,000 | $ 6,977,000 | |
With no allowance recorded, interest income recognized | 175,000 | 35,000 | |
With allowance recorded, average recorded investment | 6,445,000 | 395,000 | |
With allowance recorded, interest income recognized | |||
Impaired Loans, Average recorded investment | 24,243,000 | 7,372,000 | |
Impaired Loans, interest income recognized | 175,000 | 35,000 | |
Business Activities Loans [Member] | |||
Impaired loans with no related allowance recorded, recorded investment | 25,036,000 | 15,391,000 | |
Impaired loans with no related allowance recorded, unpaid principal balance | 25,163,000 | 16,799,000 | |
Impaired loans with a related allowance recorded, recorded investment | 5,015,000 | 5,827,000 | |
Impaired loans with a related allowance recorded, unpaid principal balance | 5,015,000 | 5,877,000 | |
Impaired loans, related allowance | 1,625,000 | 1,545,000 | |
Impaired loans, recorded investment | 30,051,000 | 21,218,000 | |
Impaired loans, unpaid principal balance | 30,178,000 | 22,676,000 | |
Commercial Real Estate Portfolio Segment [Member] | |||
With no allowance recorded, average recorded investment | 6,440,000 | 2,205,000 | |
With no allowance recorded, interest income recognized | 13,000 | 25,000 | |
With allowance recorded, average recorded investment | 472,000 | ||
With allowance recorded, interest income recognized | |||
Impaired Loans, Average recorded investment | 6,912,000 | 2,205,000 | |
Impaired Loans, interest income recognized | 13,000 | 25,000 | |
Commercial Real Estate Portfolio Segment [Member] | Business Activities Loans [Member] | |||
Impaired loans with no related allowance recorded, recorded investment | 12,026,000 | 4,606,000 | |
Impaired loans with no related allowance recorded, unpaid principal balance | 12,145,000 | 5,109,000 | |
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 | 12,026,000 | 4,606,000 | |
Impaired loans, unpaid principal balance | 12,145,000 | 5,109,000 | |
Residential Portfolio Segment [Member] | |||
With no allowance recorded, average recorded investment | 942,000 | 3,342,000 | |
With no allowance recorded, interest income recognized | 4,000 | 3,000 | |
With allowance recorded, average recorded investment | 2,089,000 | ||
With allowance recorded, interest income recognized | |||
Impaired Loans, Average recorded investment | 3,031,000 | 3,342,000 | |
Impaired Loans, interest income recognized | 4,000 | 3,000 | |
Residential Portfolio Segment [Member] | Business Activities Loans [Member] | |||
Impaired loans with no related allowance recorded, recorded investment | 1,760,000 | 670,000 | |
Impaired loans with no related allowance recorded, unpaid principal balance | 1,768,000 | 703,000 | |
Impaired loans with a related allowance recorded, recorded investment | 2,006,000 | 1,632,000 | |
Impaired loans with a related allowance recorded, unpaid principal balance | 2,006,000 | 1,632,000 | |
Impaired loans, related allowance | 563,000 | 216,000 | |
Impaired loans, recorded investment | 3,766,000 | 2,302,000 | |
Impaired loans, unpaid principal balance | 3,774,000 | 2,335,000 | |
Commercial Portfolio Segment [Member] | |||
With no allowance recorded, average recorded investment | 775,000 | 739,000 | |
With no allowance recorded, interest income recognized | |||
With allowance recorded, average recorded investment | 3,863,000 | 393,000 | |
With allowance recorded, interest income recognized | |||
Impaired Loans, Average recorded investment | 4,638,000 | 1,132,000 | |
Impaired Loans, interest income recognized | |||
Commercial Portfolio Segment [Member] | Business Activities Loans [Member] | |||
Impaired loans with no related allowance recorded, recorded investment | 1,589,000 | 488,000 | |
Impaired loans with no related allowance recorded, unpaid principal balance | 1,589,000 | 1,281,000 | |
Impaired loans with a related allowance recorded, recorded investment | 3,009,000 | 4,158,000 | |
Impaired loans with a related allowance recorded, unpaid principal balance | 3,009,000 | 4,208,000 | |
Impaired loans, related allowance | 1,062,000 | 1,299,000 | |
Impaired loans, recorded investment | 4,598,000 | 4,646,000 | |
Impaired loans, unpaid principal balance | 4,598,000 | 5,489,000 | |
Consumer Portfolio Segment [Member] | |||
With no allowance recorded, average recorded investment | 841,000 | 691,000 | |
With no allowance recorded, interest income recognized | 8,000 | 7,000 | |
With allowance recorded, average recorded investment | 21,000 | 2,000 | |
With allowance recorded, interest income recognized | |||
Impaired Loans, Average recorded investment | 862,000 | 693,000 | |
Impaired Loans, interest income recognized | 8,000 | 7,000 | |
Consumer Portfolio Segment [Member] | Business Activities Loans [Member] | |||
Impaired loans with no related allowance recorded, recorded investment | 861,000 | 827,000 | |
Impaired loans with no related allowance recorded, unpaid principal balance | 861,000 | 867,000 | |
Impaired loans with a related allowance recorded, recorded investment | 37,000 | ||
Impaired loans with a related allowance recorded, unpaid principal balance | 37,000 | ||
Impaired loans, related allowance | 30,000 | ||
Impaired loans, recorded investment | 861,000 | 864,000 | |
Impaired loans, unpaid principal balance | 861,000 | 904,000 | |
Construction Portfolio Segment [Member] | |||
With no allowance recorded, average recorded investment | 8,800,000 | ||
With no allowance recorded, interest income recognized | 150,000 | ||
With allowance recorded, average recorded investment | |||
With allowance recorded, interest income recognized | |||
Impaired Loans, Average recorded investment | 8,800,000 | ||
Impaired Loans, interest income recognized | 150,000 | ||
Construction Portfolio Segment [Member] | Business Activities Loans [Member] | |||
Impaired loans with no related allowance recorded, recorded investment | 8,800,000 | 8,800,000 | |
Impaired loans with no related allowance recorded, unpaid principal balance | 8,800,000 | 8,839,000 | |
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 | 8,800,000 | 8,800,000 | |
Impaired loans, unpaid principal balance | $ 8,800,000 | $ 8,839,000 |
Note 5 - Goodwill and Other I_2
Note 5 - Goodwill and Other Intangible Assets (Details Textual) - USD ($) | 3 Months Ended | ||
Mar. 31, 2019 | Dec. 31, 2018 | May 10, 2018 | |
Goodwill, Ending Balance | $ 1,107,000 | $ 1,728,000 | |
Prime Bank [Member] | |||
Goodwill, Ending Balance | 1,100,000 | $ 1,700,000 | $ 2,100,000 |
Goodwill, Purchase Accounting Adjustments | $ (621,000) |
Note 6 - Deposits - Summary of
Note 6 - Deposits - Summary of Deposits (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Non-interest bearing, Balance | $ 82,248 | $ 84,471 |
NOW, Balance | 24,924 | 26,100 |
Savings, Balance | 67,708 | 81,912 |
Money market, Balance | 88,493 | 85,197 |
Certificates of deposit, less than $250,000, Balance | 217,701 | 203,683 |
Certificates of deposit, $250,000 or greater, Balance | 88,953 | 78,318 |
Brokered deposits, Balance | 182,794 | 183,600 |
Interest bearing, Total, Balance | 670,573 | 658,810 |
Deposits, Balance | $ 752,821 | $ 743,281 |
Note 6 - Deposits - Contractual
Note 6 - Deposits - Contractual Maturities of Certificates of Deposit (Details) $ in Thousands | Mar. 31, 2019USD ($) |
1 year or less | $ 343,517 |
More than 1 year through 2 years | 117,891 |
More than 2 years through 3 years | 24,958 |
More than 3 years through 4 years | 2,655 |
More than 4 years through 5 years | 427 |
Contractual Maturities of Certificates of Deposit, Total | 489,448 |
Certificates of Deposits Less Than $250,000 [Member] | |
1 year or less | 139,614 |
More than 1 year through 2 years | 68,372 |
More than 2 years through 3 years | 7,972 |
More than 3 years through 4 years | 1,316 |
More than 4 years through 5 years | 427 |
Contractual Maturities of Certificates of Deposit, Total | 217,701 |
Certificates of Deposit $250,000 or Greater [Member] | |
1 year or less | 58,395 |
More than 1 year through 2 years | 28,199 |
More than 2 years through 3 years | 1,519 |
More than 3 years through 4 years | 840 |
More than 4 years through 5 years | |
Contractual Maturities of Certificates of Deposit, Total | 88,953 |
Brokered Deposits [Member] | |
1 year or less | 145,508 |
More than 1 year through 2 years | 21,320 |
More than 2 years through 3 years | 15,467 |
More than 3 years through 4 years | 499 |
More than 4 years through 5 years | |
Contractual Maturities of Certificates of Deposit, Total | $ 182,794 |
Note 7 - Share-based Compensa_3
Note 7 - Share-based Compensation and Employee Benefit Plan (Details Textual) - USD ($) | Jan. 04, 2019 | Mar. 31, 2019 | Mar. 31, 2018 | Dec. 31, 2018 |
Labor and Related Expense | $ 3,184,000 | $ 2,769,000 | ||
Common Stock, Dividends, Per Share, Cash Paid | $ 0.01 | $ 0.01 | ||
Payments of Ordinary Dividends, Common Stock | $ 39,000 | $ 38,000 | ||
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 | $ 54,000 | $ 51,000 | ||
Restricted Stock [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period | 100 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | 8,936 | 2,935 | ||
2012 Stock Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 3,000,000 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 2,870,113 | |||
Share-based Payment Arrangement, Expense | $ 48,000 | $ 53,000 | ||
2012 Stock Plan [Member] | Employee [Member] | ||||
Share-based Payment Arrangement, Expense | 28,000 | 35,000 | ||
2012 Stock Plan [Member] | Patriot's External Directors [Member] | ||||
Share-based Payment Arrangement, Expense | 20,000 | 18,000 | ||
2012 Stock Plan [Member] | Patriot's External Directors [Member] | Other Nonoperating Income (Expense) [Member] | ||||
Labor and Related Expense | $ 119,000 | $ 82,000 | ||
2012 Stock Plan [Member] | Phantom Share Units (PSUs) [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number, Ending Balance | 0 | 0 | ||
2012 Stock Plan [Member] | Restricted Stock [Member] | ||||
Share-based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount | $ 324,000 | |||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition | 2 years 109 days | |||
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 | 0 | 100 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | 6,000 | |||
2012 Stock Plan [Member] | Restricted Stock [Member] | Share-based Payment Arrangement, 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 Payment Arrangement, Tranche Three [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 5 years | |||
2012 Stock Plan [Member] | Restricted Stock [Member] | Share-based Payment Arrangement, Tranche One [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years |
Note 7 - Share-based Compensa_4
Note 7 - Share-based Compensation - Restricted Shares (Details) - Restricted Stock [Member] - $ / shares | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Unvested at beginning of year (in shares) | 31,790 | 25,870 |
Unvested at beginning of year, weighted average grant date fair value (in dollars per share) | $ 14.06 | $ 12.15 |
Vested (in shares) | (8,936) | (2,935) |
Vested, weighted average grant date fair value (in dollars per share) | $ 15.07 | $ 14.18 |
Granted (in shares) | 14,199 | |
Granted, weighted average grant date fair value (in dollars per share) | $ 17.93 | |
Forfeited (in shares) | (100) | |
Forfeited, weighted average grant date fair value (in dollars per share) | $ 15.50 | |
Unvested at end of year (in shares) | 22,854 | 37,034 |
Unvested at end of year, weighted average grant date fair value (in dollars per share) | $ 13.66 | $ 14.20 |
Note 8 - Earnings Per Share (De
Note 8 - Earnings Per Share (Details Textual) | 3 Months Ended |
Mar. 31, 2019shares | |
Restricted Stock [Member] | |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 448 |
Note 8 - Earnings Per Share - C
Note 8 - Earnings Per Share - Computation of Earnings Per Share Basic and Diluted (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | ||
Net income attributable to Common shareholders | $ 323 | $ 1,065 | |
Weighted average shares outstanding (in shares) | 3,917,312 | 3,900,513 | |
Basic earnings per share (in dollars per share) | $ 0.08 | $ 0.27 | |
Net income attributable to Common shareholders | $ 323 | $ 1,065 | |
Effect of potentially dilutive restricted common shares (in shares) | 16,601 | ||
Weighted average diluted shares outstanding (in shares) | 3,917,312 | [1] | 3,917,114 |
Diluted earnings per share (in dollars per share) | $ 0.08 | $ 0.27 | |
[1] | The weighted average diluted shares outstanding did not include 448 anti-dilutive restricted common shares as of March 31, 2019. |
Note 9 - Financial Instrument_3
Note 9 - Financial Instruments With Off-balance Sheet Risk (Details Textual) | Mar. 31, 2019USD ($) |
Banks Reserve Based on Analysis in Unfunded Commitments | $ 8,000 |
Note 9 - Financial Instrument_4
Note 9 - Financial Instruments With Off-balance Sheet Risk - Financial Instruments With Credit Risk (Details) $ in Thousands | Mar. 31, 2019USD ($) |
Commitments to extend credit | $ 126,561 |
Unused Line of Credit [Member] | |
Commitments to extend credit | 58,521 |
Undisbursed Construction Loans [Member] | |
Commitments to extend credit | 31,207 |
Home Equity Lines of Credit [Member] | |
Commitments to extend credit | 19,953 |
Future Loan Commitments [Member] | |
Commitments to extend credit | 15,727 |
Financial Standy Letter of Credit [Member] | |
Commitments to extend credit | $ 1,153 |
Note 10 - Regulatory and Oper_3
Note 10 - Regulatory and Operational Matters (Details Textual) | Mar. 31, 2019 | Jan. 01, 2019 |
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% | 7.00% |
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 | 1.875% | |
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 10 - Regulatory and Oper_4
Note 10 - Regulatory and Operational Matters - Regulatory Capital Amounts and Ratios (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Jan. 01, 2019 | Dec. 31, 2018 | |
Total Capital (to Risk Weighted Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio | 10.00% | |||
Total Capital (to Risk Weighted Assets) For Capital Adequacy Purposes Ratio | 10.50% | |||
Tier 1 Capital (to Risk Weighted Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio | 8.00% | |||
Tier 1 Capital (to Risk Weighted Assets) For Capital Adequacy Purposes Ratio | 8.50% | |||
Common Equity Tier 1 Capital (to Risk Weighted Assets) For Capital Adequacy Purposes Ratio | 6.50% | 7.00% | ||
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 | $ 91,489 | $ 90,722 | ||
Total Capital (to Risk Weighted Assets) Actual Ratio | 10.332% | 10.452% | ||
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 | $ 70,836 | $ 69,441 | ||
Total Capital (to Risk Weighted Assets) For Capital Adequacy Purposes Ratio | 8.00% | 8.00% | ||
Tier 1 Capital (to Risk Weighted Assets) Actual Amount | $ 73,654 | $ 73,101 | ||
Tier 1 Capital (to Risk Weighted Assets) Actual Ratio | 8.318% | 8.422% | ||
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 | $ 53,127 | $ 52,081 | ||
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 | $ 65,654 | $ 65,101 | ||
Common Equity Tier 1 Capital (to Risk Weighted Assets) Actual Ratio | 7.415% | 7.50% | ||
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 | $ 39,845 | $ 39,061 | ||
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 | $ 73,654 | $ 73,101 | ||
Tier 1 Capital (to Average Assets) Actual Ratio | 7.721% | 7.842% | ||
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 | $ 38,160 | $ 37,288 | ||
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 | $ 101,239 | $ 99,341 | ||
Total Capital (to Risk Weighted Assets) Actual Ratio | 11.908% | 11.50% | ||
Total Capital (to Risk Weighted Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions Amount | [1] | $ 85,016 | $ 86,384 | |
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] | $ 89,267 | $ 85,304 | |
Total Capital (to Risk Weighted Assets) For Capital Adequacy Purposes With Capital Buffer Ratio | [2] | 10.50% | 9.875% | |
Total Capital (to Risk Weighted Assets) For Capital Adequacy Purposes Amount | $ 68,013 | $ 69,107 | ||
Total Capital (to Risk Weighted Assets) For Capital Adequacy Purposes Ratio | 8.00% | 8.00% | ||
Tier 1 Capital (to Risk Weighted Assets) Actual Amount | $ 93,404 | $ 91,720 | ||
Tier 1 Capital (to Risk Weighted Assets) Actual Ratio | 10.987% | 10.618% | ||
Tier 1 Capital (to Risk Weighted Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions Amount | [1] | $ 68,013 | $ 69,107 | |
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] | $ 72,264 | $ 68,027 | |
Tier 1 Capital (to Risk Weighted Assets) For Capital Adequacy Purposes With Capital Buffer Ratio | [2] | 8.50% | 7.875% | |
Tier 1 Capital (to Risk Weighted Assets) For Capital Adequacy Purposes Amount | $ 51,010 | $ 51,830 | ||
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 | $ 93,404 | $ 91,720 | ||
Common Equity Tier 1 Capital (to Risk Weighted Assets) Actual Ratio | 10.987% | 10.618% | ||
Common Equity Tier 1 Capital (to Risk Weighted Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions Amount | [1] | $ 55,260 | $ 56,149 | |
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] | $ 59,511 | $ 55,069 | |
Common Equity Tier 1 Capital (to Risk Weighted Assets) For Capital Adequacy Purposes With Capital Buffer Ratio | [2] | 7.00% | 6.375% | |
Common Equity Tier 1 Capital (to Risk Weighted Assets) For Capital Adequacy Purposes Amount | $ 38,257 | $ 38,873 | ||
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 | $ 93,404 | $ 91,720 | ||
Tier 1 Capital (to Average Assets) Actual Ratio | 9.789% | 9.838% | ||
Tier 1 Capital (to Average Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions Amount | [1] | $ 47,707 | $ 46,617 | |
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 | $ 38,166 | $ 37,294 | ||
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 11 - Fair Value and Inte_3
Note 11 - Fair Value and Interest Rate Risk (Details Textual) - USD ($) | Mar. 31, 2019 | Dec. 31, 2018 |
Other Investments, Total | $ 4,963,000 | $ 4,963,000 |
Solomon Hess SBA Loan Fund [Member] | ||
Other Investments, Total | 4,450,000 | |
Bank Time Deposits [Member] | ||
Other Investments, Total | $ 513,000 | |
Federal Home Loan Bank Certificates and Obligations (FHLB) [Member] | ||
Stock Value Par or Stated Value per Share | $ 100 |
Note 11 - Fair Value and Inte_4
Note 11 - Fair Value and Interest Rate Risk - Financial Assets and Liabilities (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Fair value, total | $ 40,275 | $ 39,496 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Fair value, total | 19,976 | 20,473 |
Corporate Debt Securities [Member] | ||
Fair value, total | 12,828 | 12,974 |
Subordinated Notes [Member] | ||
Fair value, total | 5,980 | 4,564 |
Reported Value Measurement [Member] | ||
Financial assets, total | 894,026 | 895,509 |
Financial liabilities, total | 876,140 | 876,862 |
Estimate of Fair Value Measurement [Member] | ||
Financial assets, total | 884,836 | 885,323 |
Financial liabilities, total | 877,544 | 875,279 |
Fair Value, Inputs, Level 1 [Member] | Reported Value Measurement [Member] | Brokered Deposits [Member] | ||
Deposits | 182,794 | 183,600 |
Fair Value, Inputs, Level 1 [Member] | Reported Value Measurement [Member] | Cash and Due from Banks [Member] | ||
Cash and cash equivalents | 6,661 | 7,381 |
Fair Value, Inputs, Level 1 [Member] | Reported Value Measurement [Member] | Interest-bearing Deposits [Member] | ||
Cash and cash equivalents | 49,971 | 59,056 |
Fair Value, Inputs, Level 1 [Member] | Estimate of Fair Value Measurement [Member] | Brokered Deposits [Member] | ||
Deposits | 182,804 | 183,120 |
Fair Value, Inputs, Level 1 [Member] | Estimate of Fair Value Measurement [Member] | Cash and Due from Banks [Member] | ||
Cash and cash equivalents | 6,661 | 7,381 |
Fair Value, Inputs, Level 1 [Member] | Estimate of Fair Value Measurement [Member] | Interest-bearing Deposits [Member] | ||
Cash and cash equivalents | 49,971 | 59,056 |
Fair Value, Inputs, Level 2 [Member] | Reported Value Measurement [Member] | ||
Fair value, total | 1,491 | 1,485 |
Other investments | 4,963 | 4,963 |
Federal Reserve Bank stock | 2,892 | 2,866 |
Federal Home Loan Bank stock | 4,513 | 4,928 |
Accrued interest receivable | 3,621 | 3,766 |
Interest swap receivable | 417 | 286 |
FHLB borrowings | 90,000 | 100,000 |
Senior notes | 11,796 | 11,778 |
Subordinated debt | 9,731 | 9,723 |
Junior subordinated debt owed to unconsolidated trust | 8,096 | 8,094 |
Accrued interest payable | 1,854 | 1,605 |
Interest swap liability | 417 | 286 |
Fair Value, Inputs, Level 2 [Member] | Reported Value Measurement [Member] | Demand Deposits [Member] | ||
Deposits | 82,248 | 84,471 |
Fair Value, Inputs, Level 2 [Member] | Reported Value Measurement [Member] | Savings Deposits [Member] | ||
Deposits | 67,708 | 81,912 |
Fair Value, Inputs, Level 2 [Member] | Reported Value Measurement [Member] | Money Market Deposits [Member] | ||
Deposits | 88,493 | 85,197 |
Fair Value, Inputs, Level 2 [Member] | Reported Value Measurement [Member] | Negotiable Order of Withdrawal (NOW) Accounts [Member] | ||
Deposits | 24,924 | 26,100 |
Fair Value, Inputs, Level 2 [Member] | Reported Value Measurement [Member] | Time Deposits [Member] | ||
Deposits | 306,654 | 282,001 |
Fair Value, Inputs, Level 2 [Member] | Reported Value Measurement [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Fair value, total | 19,976 | 20,473 |
Fair Value, Inputs, Level 2 [Member] | Reported Value Measurement [Member] | Corporate Debt Securities [Member] | ||
Fair value, total | 12,828 | 12,974 |
Fair Value, Inputs, Level 2 [Member] | Reported Value Measurement [Member] | Subordinated Notes [Member] | ||
Fair value, total | 5,980 | 4,564 |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | ||
Fair value, total | 1,491 | 1,485 |
Other investments | 4,963 | 4,963 |
Federal Reserve Bank stock | 2,892 | 2,866 |
Federal Home Loan Bank stock | 4,513 | 4,928 |
Accrued interest receivable | 3,621 | 3,766 |
Interest swap receivable | 417 | 286 |
FHLB borrowings | 92,509 | 101,369 |
Senior notes | 11,433 | 11,293 |
Subordinated debt | 9,490 | 9,348 |
Junior subordinated debt owed to unconsolidated trust | 8,096 | 8,094 |
Accrued interest payable | 1,854 | 1,605 |
Interest swap liability | 417 | 286 |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | Demand Deposits [Member] | ||
Deposits | 82,248 | 84,471 |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | Savings Deposits [Member] | ||
Deposits | 67,708 | 81,912 |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | Money Market Deposits [Member] | ||
Deposits | 88,493 | 85,197 |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | Negotiable Order of Withdrawal (NOW) Accounts [Member] | ||
Deposits | 24,924 | 26,100 |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | Time Deposits [Member] | ||
Deposits | 306,260 | 280,538 |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Fair value, total | 19,976 | 20,473 |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | Corporate Debt Securities [Member] | ||
Fair value, total | 12,828 | 12,974 |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | Subordinated Notes [Member] | ||
Fair value, total | 5,980 | 4,564 |
Fair Value, Inputs, Level 3 [Member] | Reported Value Measurement [Member] | ||
Loans receivable, net | 780,713 | 772,767 |
Note payable | 1,339 | 1,388 |
Contingent consideration liability | 86 | 707 |
Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value Measurement [Member] | ||
Loans receivable, net | 771,523 | 762,581 |
Note payable | 1,222 | 1,239 |
Contingent consideration liability | $ 86 | $ 707 |
Note 11 - Fair Value and Inte_5
Note 11 - Fair Value and Interest Rate Risk - Financial Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Available-for-sale securities | $ 40,275 | $ 39,496 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Available-for-sale securities | 19,976 | 20,473 |
Corporate Debt Securities [Member] | ||
Available-for-sale securities | 12,828 | 12,974 |
Subordinated Notes [Member] | ||
Available-for-sale securities | 5,980 | 4,564 |
US Treasury Securities [Member] | ||
Available-for-sale securities | 1,491 | 1,485 |
Fair Value, Recurring [Member] | ||
Available-for-sale securities | 40,275 | 39,496 |
Impaired PCI Loans, net | 439 | 615 |
Contingent consideration liability | 86 | 707 |
Interest swap receivable | 417 | 286 |
Interest swap liability | 417 | 286 |
Fair Value, Recurring [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Available-for-sale securities | 19,976 | 20,473 |
Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | ||
Available-for-sale securities | 12,828 | 12,974 |
Fair Value, Recurring [Member] | Subordinated Notes [Member] | ||
Available-for-sale securities | 5,980 | 4,564 |
Fair Value, Recurring [Member] | US Treasury Securities [Member] | ||
Available-for-sale securities | 1,491 | 1,485 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member] | ||
Available-for-sale securities | ||
Impaired PCI Loans, net | ||
Contingent consideration liability | ||
Interest swap receivable | ||
Interest swap liability | ||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Available-for-sale securities | ||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | ||
Available-for-sale securities | ||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member] | Subordinated Notes [Member] | ||
Available-for-sale securities | ||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member] | US Treasury Securities [Member] | ||
Available-for-sale securities | ||
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | ||
Available-for-sale securities | 40,275 | 39,496 |
Impaired PCI Loans, net | ||
Contingent consideration liability | ||
Interest swap receivable | 417 | 286 |
Interest swap liability | 417 | 286 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Available-for-sale securities | 19,976 | 20,473 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | ||
Available-for-sale securities | 12,828 | 12,974 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | Subordinated Notes [Member] | ||
Available-for-sale securities | 5,980 | 4,564 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | US Treasury Securities [Member] | ||
Available-for-sale securities | 1,491 | 1,485 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member] | ||
Available-for-sale securities | ||
Impaired PCI Loans, net | 439 | 615 |
Contingent consideration liability | 86 | 707 |
Interest swap receivable | ||
Interest swap liability | ||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Available-for-sale securities | ||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | ||
Available-for-sale securities | ||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member] | Subordinated Notes [Member] | ||
Available-for-sale securities | ||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member] | US Treasury Securities [Member] | ||
Available-for-sale securities |
Note 11 - Fair Value and Inte_6
Note 11 - 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] $ in Thousands | Mar. 31, 2019USD ($) | Dec. 31, 2018USD ($) |
Impaired loans, net | $ 28,426 | $ 19,673 |
Other Real Estate Owned | $ 2,945 | $ 2,945 |
Other Real Estate Owned | 0.14 | 0.14 |
Minimum [Member] | ||
Impaired loans, net | 0.08 | 0.08 |
Maximum [Member] | ||
Impaired loans, net | 0.21 | 0.21 |
Note 12 - Derivatives (Details
Note 12 - Derivatives (Details Textual) - Interest Rate Swap [Member] - Not Designated as Hedging Instrument [Member] | Mar. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Nov. 30, 2018 |
Derivative, Number of Instruments Held, Total | 2 | ||
Derivative, Collateral, Right to Reclaim Cash | $ 450,000 | $ 300,000 |
Note 12 - Derivatives - Schedul
Note 12 - Derivatives - Schedule of Derivative Instruments (Details) - Interest Rate Swap [Member] - Not Designated as Hedging Instrument [Member] - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2019 | Dec. 31, 2018 | |
Derivative Asset, Notional Amount | $ 5,000 | $ 5,000 |
Derivative, Maturity (Year) | 10 years 182 days | 10 years 182 days |
Derivative, Fixed Rate | 5.25% | 5.25% |
Interest swap receivable | $ 286 | |
Derivative Liability, Notional Amount | $ 5,000 | 5,000 |
Derivative Liability, Fair Value | $ (286) | |
Other Assets [Member] | ||
Interest swap receivable | 417 | |
Other Liabilities [Member] | ||
Derivative Liability, Fair Value | $ (417) | |
London Interbank Offered Rate (LIBOR) [Member] | ||
Derivative, Variable Rate | 1.96% | 1.96% |
Note 13 - Leases (Details Textu
Note 13 - Leases (Details Textual) $ in Thousands | Mar. 31, 2019USD ($) | Jan. 01, 2019USD ($) |
Number of Operating Leases, Lessee | 7 | |
Number of Operating Leases in Bank Branch Locations, Lessee | 4 | |
Number of Operating Leases in Administrative and Operational Spaces, Lessee | 2 | |
Number of Operating Leases in Equipment Leases, Lessee | 1 | |
Operating Lease, Right-of-Use Asset | $ 3,305 | |
Operating Lease, Liability, Total | $ 3,361 | |
Accounting Standards Update 2016-02 [Member] | ||
Operating Lease, Right-of-Use Asset | $ 3,400 | |
Operating Lease, Liability, Total | $ 3,400 |
Note 13 - Leases - Maturity of
Note 13 - Leases - Maturity of Operating Lease Liabilities (Details) $ in Thousands | Mar. 31, 2019USD ($) |
2019 | $ 343 |
2020 | 464 |
2021 | 474 |
2022 | 435 |
2023 | 397 |
Thereafter | 2,046 |
Total undiscounted lease payments | 4,159 |
Less imputed interest | (798) |
Present value of operating lease liabilities | 3,361 |
Operating lease right-of-use asset | $ 3,305 |
Note 13 - Leases - Lease Cost a
Note 13 - Leases - Lease Cost and Information (Details) $ in Thousands | 3 Months Ended |
Mar. 31, 2019USD ($) | |
Operating lease cost | $ 122 |
Short-term lease cost | 25 |
Operating cash flows from operating leases | $ 114 |
Weighted -average remaining lease term - operating leases (in years) (Year) | 11 years |
Weighted -average discount rate - operating leases | 3.63% |