Document And Entity Information
Document And Entity Information - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Apr. 24, 2020 | Jun. 30, 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 Voluntary Filers | No | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Emerging Growth Company | false | ||
Entity Small Business | true | ||
Entity Interactive Data Current | Yes | ||
Entity Common Stock, Shares Outstanding (in shares) | 3,935,141 | ||
Entity Public Float | $ 20.5 | ||
Entity Shell Company | false | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2019 | ||
Document Fiscal Year Focus | 2019 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false | ||
Title of 12(b) Security | Common Stock, par value $0.01 per share |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Cash and due from banks: | ||
Noninterest bearing deposits and cash | $ 2,693 | $ 7,381 |
Interest bearing deposits | 36,711 | 59,056 |
Total cash and cash equivalents | 39,404 | 66,437 |
Investment securities: | ||
Available-for-sale securities, at fair value | 48,317 | 39,496 |
Other investments, at cost | 4,450 | 4,963 |
Total investment securities | 52,767 | 44,459 |
Federal Reserve Bank stock, at cost | 2,897 | 2,866 |
Federal Home Loan Bank stock, at cost | 4,477 | 4,928 |
Loans receivable (net of allowance for loan losses: 2019: $10,115, 2018: $7,609) | 802,049 | 772,767 |
SBA loans held for sale | 15,282 | |
Accrued interest and dividends receivable | 3,603 | 3,766 |
Premises and equipment, net | 34,568 | 35,435 |
Other real estate owned | 2,400 | 2,945 |
Deferred tax asset, net | 11,133 | 10,851 |
Goodwill | 1,107 | 1,728 |
Core deposit intangible, net | 623 | 698 |
Other assets | 9,526 | 4,816 |
Total assets | 979,836 | 951,696 |
Deposits: | ||
Noninterest bearing deposits | 88,135 | 84,471 |
Interest bearing deposits | 681,400 | 658,810 |
Total deposits | 769,535 | 743,281 |
Federal Home Loan Bank and correspondent bank borrowings | 100,000 | 100,000 |
Senior notes, net | 11,853 | 11,778 |
Subordinated debt, net | 9,752 | 9,723 |
Junior subordinated debt owed to unconsolidated trust, net | 8,102 | 8,094 |
Note payable | 1,193 | 1,388 |
Advances from borrowers for taxes and insurance | 3,681 | 2,926 |
Accrued expenses and other liabilities | 8,726 | 5,166 |
Total liabilities | 912,842 | 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; As of December 31, 2019: 4,004,410 shares issued; 3,930,669 shares outstanding As of December 31, 2018: 3,984,415 shares issued; 3,910,674 shares outstanding | 106,170 | 105,956 |
Accumulated deficit | (38,773) | (35,790) |
Accumulated other comprehensive loss | (403) | (826) |
Total shareholders' equity | 66,994 | 69,340 |
Total liabilities and shareholders' equity | $ 979,836 | $ 951,696 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Net of allowance for loan and lease losses | $ 10,115 | $ 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) | 4,004,410 | 3,984,415 |
Common stock, shares outstanding (in shares) | 3,930,669 | 3,910,674 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Interest and Dividend Income | |||
Interest and fees on loans | $ 40,568,000 | $ 37,546,000 | $ 31,270,000 |
Interest on investment securities | 1,667,000 | 1,306,000 | 982,000 |
Dividends on investment securities | 453,000 | 490,000 | 383,000 |
Other interest income | 956,000 | 1,033,000 | 214,000 |
Total interest and dividend income | 43,644,000 | 40,375,000 | 32,849,000 |
Interest Expense | |||
Interest on deposits | 13,985,000 | 9,024,000 | 4,948,000 |
Interest on Federal Home Loan Bank borrowings | 2,175,000 | 1,634,000 | 702,000 |
Interest on senior debt | 915,000 | 915,000 | 915,000 |
Interest on subordinated debt | 1,118,000 | 767,000 | 360,000 |
Interest on note payable and other | 25,000 | 38,000 | 31,000 |
Total interest expense | 18,218,000 | 12,378,000 | 6,956,000 |
Net interest income | 25,426,000 | 27,997,000 | 25,893,000 |
Provision (Credit) for Loan Losses | 4,971,000 | 1,303,000 | (857,000) |
Net interest income after provision for loan losses | 20,455,000 | 26,694,000 | 26,750,000 |
Non-interest Income | |||
Loan application, inspection and processing fees | 113,000 | 51,000 | 73,000 |
Deposit fees and service charges | 492,000 | 524,000 | 590,000 |
Gains on sales of loans | 891,000 | 162,000 | 4,000 |
Rental income | 589,000 | 413,000 | 399,000 |
Other income | 398,000 | 477,000 | 378,000 |
Total non-interest income | 2,483,000 | 1,627,000 | 1,444,000 |
Non-interest Expense | |||
Salaries and benefits | 13,681,000 | 11,741,000 | 10,915,000 |
Occupancy and equipment expense | 3,521,000 | 3,159,000 | 3,133,000 |
Data processing expense | 1,463,000 | 1,313,000 | 1,139,000 |
Professional and other outside services | 3,010,000 | 2,177,000 | 2,050,000 |
Project expenses | 465,000 | 2,098,000 | 640,000 |
Advertising and promotional expense | 380,000 | 258,000 | 322,000 |
Loan administration and processing expense | 155,000 | 93,000 | 63,000 |
Regulatory assessments | 1,233,000 | 1,142,000 | 844,000 |
Insurance expense, net | 136,000 | 90,000 | 233,000 |
Communications, stationary and supplies | 518,000 | 503,000 | 381,000 |
Other operating expense | 2,092,000 | 1,661,000 | 1,452,000 |
Total non-interest expense | 26,654,000 | 24,235,000 | 21,172,000 |
(Loss) Income before income taxes | (3,716,000) | 4,086,000 | 7,022,000 |
(Benefit) Provision for Income Taxes | (899,000) | 890,000 | 2,875,000 |
Net (loss) income | $ (2,817,000) | $ 3,196,000 | $ 4,147,000 |
Basic (loss) earnings per share (in dollars per share) | $ (0.72) | $ 0.82 | $ 1.06 |
Diluted (loss) earnings per share (in dollars per share) | $ (0.72) | $ 0.82 | $ 1.06 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive (Loss) Income - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Net income (loss) | $ (2,817,000) | $ 3,196,000 | $ 4,147,000 |
Other comprehensive income: | |||
Unrealized holding gain (loss) on securities | 571,000 | (860,000) | (64,000) |
Income tax effect | (148,000) | 189,000 | 25,000 |
Reclassification for realized losses on sale of investment securities, net of tax | 4,000 | ||
Total other comprehensive income (loss) | 423,000 | (671,000) | (35,000) |
Comprehensive (loss) income | $ (2,394,000) | $ 2,525,000 | $ 4,112,000 |
Consolidated Statements of Shar
Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands | Common Stock Outstanding [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balance (in shares) at Dec. 31, 2016 | 3,891,897 | |||
Balance at Dec. 31, 2016 | $ 105,592 | $ (42,902) | $ (120) | $ 62,570 |
Net income (loss) | 4,147 | 4,147 | ||
Unrealized holding gain (loss) on available-for-sale securities, net of tax | (35) | (35) | ||
Total comprehensive income | 4,147 | (35) | $ 4,112 | |
Purchase of treasury stock (in shares) | (100) | (72,471) | ||
Purchase of treasury stock | $ (2) | $ (2) | ||
Common stock dividends | (77) | (77) | ||
Share-based compensation expense | $ 146 | 146 | ||
Vesting of restricted stock (in shares) | 7,878 | |||
Share-based compensation expense | $ 146 | 146 | ||
Balance (in shares) at Dec. 31, 2017 | 3,899,675 | |||
Balance at Dec. 31, 2017 | $ 105,736 | (38,832) | (155) | 66,749 |
Net income (loss) | 3,196 | 3,196 | ||
Unrealized holding gain (loss) on available-for-sale securities, net of tax | (671) | (671) | ||
Total comprehensive income | 3,196 | (671) | $ 2,525 | |
Purchase of treasury stock (in shares) | 0 | |||
Common stock dividends | (154) | $ (154) | ||
Share-based compensation expense | $ 220 | 220 | ||
Vesting of restricted stock (in shares) | 10,999 | |||
Share-based compensation expense | $ 220 | 220 | ||
Vesting of restricted stock | ||||
Balance (in shares) at Dec. 31, 2018 | 3,910,674 | |||
Balance at Dec. 31, 2018 | $ 105,956 | (35,790) | (826) | 69,340 |
Net income (loss) | (2,817) | (2,817) | ||
Unrealized holding gain (loss) on available-for-sale securities, net of tax | 423 | 423 | ||
Total comprehensive income | (2,817) | 423 | $ (2,394) | |
Purchase of treasury stock (in shares) | 0 | |||
Common stock dividends | (155) | $ (155) | ||
Share-based compensation expense | $ 214 | 214 | ||
Vesting of restricted stock (in shares) | 19,995 | |||
Share-based compensation expense | $ 214 | 214 | ||
Vesting of restricted stock | ||||
Transition adjustment related to adoption of ASC 842, net of tax | (11) | (11) | ||
Balance (in shares) at Dec. 31, 2019 | 3,930,669 | |||
Balance at Dec. 31, 2019 | $ 106,170 | $ (38,773) | $ (403) | $ 66,994 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Cash Flows from Operating Activities: | |||
Net income (loss) | $ (2,817,000) | $ 3,196,000 | $ 4,147,000 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Amortization of investment premiums, net | 7,000 | 15,000 | 86,000 |
Amortization and accretion of purchase loan premiums and discounts | 997,000 | 523,000 | 650,000 |
Amortization of debt issuance costs | 112,000 | 97,000 | 82,000 |
Amortization of core deposit intangible | 75,000 | 50,000 | |
Amortization of servicing assets of sold SBA loans | 16,000 | ||
Provision (credit) for loan losses | 4,971,000 | 1,303,000 | (857,000) |
Depreciation and amortization | 1,600,000 | 1,486,000 | 1,269,000 |
Loss on sales of available-for-sale securities | (6,000) | ||
Share-based compensation | 214,000 | 220,000 | 146,000 |
(Increase) decrease in deferred income taxes | (1,136,000) | (265,000) | 2,258,000 |
Originations of SBA loans held for sale | (26,947,000) | (2,254,000) | |
Proceeds from sale of SBA loans held for sale | 12,556,000 | 2,096,000 | |
Gains on sale of SBA loans held for sale, net | (891,000) | (155,000) | |
Net loss on sale of other real estate owned | 94,000 | 9,000 | |
Changes in assets and liabilities: | |||
Decrease (increase) in accrued interest and dividends receivable | 163,000 | (270,000) | (770,000) |
Increase in other assets | (1,180,000) | (981,000) | (2,000) |
Increase in accrued expenses and other liabilities | 251,000 | 211,000 | 278,000 |
Net cash (used) provided by operating activities | (11,915,000) | 5,272,000 | 7,290,000 |
Cash Flows from Investing Activities: | |||
Proceeds from maturity or sales on available-for-sale securities | 6,500,000 | 37,032,000 | 16,929,000 |
Principal repayments on available-for-sale securities | 3,893,000 | 2,267,000 | 2,361,000 |
Purchases of available-for-sale securities | (18,072,000) | (18,562,000) | (20,576,000) |
Purchases of other investments | (513,000) | (512,000) | |
Proceeds from maturity of other investments | 513,000 | 512,000 | |
Purchases of Federal Reserve Bank stock | (31,000) | (364,000) | (393,000) |
Redemptions (purchases) of Federal Home Loan Bank stock | 451,000 | 961,000 | (280,000) |
Decrease (increase) in originated loans receivable, net | 18,728,000 | 5,572,000 | (63,139,000) |
Purchases of loans receivable | (54,604,000) | (47,074,000) | (73,022,000) |
Purchases of premises and equipment | (552,000) | (1,142,000) | (3,060,000) |
Proceeds from sale of other real estate owned | 897,000 | 842,000 | |
Refund of (payment for) escrow deposit related to acquisition activity | 500,000 | (500,000) | |
Net cash used in business combination | (5,071,000) | ||
Net cash used in investing activities | (41,777,000) | (26,882,000) | (140,850,000) |
Cash Flows from Financing Activities: | |||
Increase in deposits, net | 26,254,000 | 59,658,000 | 108,115,000 |
Repayments of FHLB borrowings, net | (29,800,000) | (18,000,000) | |
Proceeds from issuance of subordinated note, net | 9,709,000 | ||
Principal repayments of note payable | (195,000) | (192,000) | (189,000) |
Decrease in advances from borrowers for taxes and insurance | 755,000 | 97,000 | 153,000 |
Purchases of treasury stock | (2,000) | ||
Dividends paid on common stock | (155,000) | (154,000) | (77,000) |
Net cash provided by financing activities | 26,659,000 | 39,318,000 | 90,000,000 |
Net (decrease) increase in cash and cash equivalents | (27,033,000) | 17,708,000 | (43,560,000) |
Cash and cash equivalents at beginning of period | 66,437,000 | 48,729,000 | 92,289,000 |
Cash and cash equivalents at end of period | 39,404,000 | 66,437,000 | 48,729,000 |
Supplemental Disclosures of Cash Flow Information: | |||
Cash paid for interest | 17,740,000 | 11,246,000 | 6,424,000 |
Cash paid for income taxes | 22,000 | 1,243,000 | 515,000 |
Non-cash transactions: | |||
Purchase of premises and equipment | 181,000 | 415,000 | 808,000 |
Increase in accrued expense and other liabilities | (181,000) | (415,000) | (808,000) |
Purchases of available-for-sale securities | 578,000 | ||
Increase in accrued expense and other liabilities | (578,000) | ||
Transfers of loans receivable to other real estate owned | 446,000 | 1,954,000 | |
Recognition of operating lease right-of-use assets | 3,160,000 | ||
Recognition of operating lease liabilities | (3,264,000) | ||
Accrued rent payable - adoption ASC 842 | 93,000 | ||
Capitalized servicing assets | 180,000 | ||
Business Combination Non-Cash Disclosures: | |||
Assets acquired in business combination (net of cash received) | 60,173,000 | ||
Liabilities acquired in business combination | 56,123,000 | ||
Contingent liability assumed in business combination | $ 621,000 | $ 707,000 |
Note 1 - Nature of Operations a
Note 1 - Nature of Operations and Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block] | Note 1. Nature of Operations and Summary of Significant Accounting Policies Patriot National Bancorp, Inc. (the "Company"), a Connecticut corporation, is a bank holding company that was organized in 1999. seven two On March 11, 2003, March 26, 2003, first 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, the impairment of goodwill, the valuation of derivatives, and the valuation of servicing assets as certain of Patriot’s more significant accounting policies and estimates, in that they are critical to the presentation of Patriot’s financial condition and results of operations. As they concern matters that are inherently uncertain, these estimates require management to make subjective and complex judgments in the preparation of Patriot’s Consolidated Financial Statements. Reclassifications: Certain amounts appearing in the financial statements and notes thereto for prior periods have been reclassified to conform with the current presentation. The reclassifications had no Significant Changes in the Fourth Quarter of 2019: fourth 2019, $1.5 one fourth fourth 2019 $422,000 $1.5 $0.11 $0.39 fourth 2019. Summary of Significant Accounting Policies : Principles of consolidation and basis of financial statement presentation The Consolidated Financial Statements include the accounts of Patriot, and the Bank's wholly owned subsidiaries, PinPat Acquisition Corporation and ABC HOLD Co, LLC, (inactive) and have been prepared in conformity with US GAAP. All significant intercompany balances and transactions have been eliminated. Cash and cash equivalents Patriot considers all short-term, highly liquid investments purchased with an original maturity of three Patriot maintains amounts due from banks which, at times, may not Federal Reserve Bank and Federal Home Loan Bank stock The Bank is required to maintain an investment in capital stock of the Federal Home Loan Bank of Boston (“FHLB-B”), as collateral, in an amount equal to a percentage of its outstanding mortgage loans and loans secured by residential properties, including mortgage-backed securities. Additionally, the Bank is required to maintain an investment in the capital stock of the Federal Reserve Bank (“FRB”), as collateral, in an amount equal to one six one Shares in the FHLB-B and FRB are purchased and redeemed based upon their $100 Included in the Bank’s investment portfolio are shares in the FHLB-B and FRB of $7.4 $7.8 December 31, 2019 2018, December 31, 2019 2018 no Investment Securities Management determines the appropriate classification of securities at the date individual investment securities are acquired, and the appropriateness of such classification is reassessed at each balance sheet date. Debt securities, if any, that management has the positive intent and ability to hold to maturity are classified as “held to maturity” and are recorded at amortized cost. “Trading” securities, if any, are carried at fair value with unrealized gains and losses recognized in earnings. Securities classified as “available-for-sale” are recorded at fair value, with unrealized gains and losses excluded from earnings and reported in other comprehensive income (loss), net of taxes. Purchase premiums and discounts are recognized in interest income using the interest method of accounting, in order to achieve a constant effective yield over the contractual term of the securities. Patriot conducts a quarterly review and evaluation of the securities portfolio to determine if a decline in the fair value of any security below its cost basis is an other-than-temporary impairment (“OTTI”). Our evaluation of OTTI considers the duration and severity of the impairment, our intent to hold the securities, whether or not Security transactions are recorded on the trade date. Realized gains and losses on the sale of securities are determined using the specific identification method, recorded on the trade date, and reported in non-interest income for the period. At December 31, 2019 2018, $4.5 December 31, 2019 2018, Loans receivable Loans that Patriot has the intent and ability to hold until maturity or for the foreseeable future generally are reported at their outstanding unpaid principal balances adjusted for unearned income, an allowance for loan and lease losses, if any, and any unamortized discount, premium and deferred fees. Interest income is accrued based on unpaid principal balances. Loan application fees are reported as non-interest income, while other certain direct origination costs, or for purchased loans, any discounts or premiums are deferred and amortized to interest income as a level yield adjustment over the respective term of the loan. Loans are placed on non-accrual status or charged off when collection of principal or interest is considered doubtful. The accrual of interest on loans is discontinued no 90 no 180 Accrued uncollected interest income on loans that are placed on non-accrual status or have been charged off is reversed against interest income. Interest income on such non-performing loans is accounted for on the cash-basis of accounting until qualifying for return to accrual status. Any cash received on non-accrual or charged off loans is first Patriot’s real estate loans are collateralized by real estate located principally in Fairfield and New Haven Counties in Connecticut and Westchester County, New York. Accordingly, the ultimate collectability of a substantial portion of Patriot’s loan portfolio is susceptible to regional real estate market conditions. A loan is considered impaired when, based on current information and events, it is probable that Patriot will be unable to collect the scheduled payments of principal or interest when due, according to the loan’s contractual terms. Factors considered by management in determining impairment include payment status and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and shortfalls generally are not Impaired loans also include loans modified in troubled debt restructurings (“TDR”), where concessions have been granted to borrowers experiencing financial difficulties. These concessions could include a reduction in the interest rate on the loan, payment or maturity date extensions, forgiveness of principal, forbearance or other actions intended to maximize collection. TDRs are generally placed on non-accrual status until the loan qualifies for return to accrual status. Loans qualify for return to accrual status once they have demonstrated compliance with the restructured terms of the loan agreement and have performed for a minimum of six Lower balance lending arrangements, such as consumer installment loans, are evaluated for impairment by pooling the loans into homogenous groupings. Accordingly, Patriot does not Acquired Loans Acquired loans are initially recorded at their acquisition date fair values. The carryover of allowance for loan and lease losses is prohibited as any credit losses in the acquired loans are included in the determination of the fair value of the loans at the acquisition date. Fair values for acquired loans are based on a discounted cash flow methodology that involves assumptions and judgments as to credit risk, prepayment risk, liquidity risk, default rates, loss severity, payment speeds, collateral values and discount rate. Acquired Impaired Loans- Purchase Credit Impaired “PCI” Loans Acquired loans that exhibit evidence of deterioration in credit quality since origination and for which it is probable, at acquisition, that the Company will be unable to collect all contractually required payments are accounted for as PCI loans under Accounting Standards Codification (“ASC”) 310 30. not PCI loans are initially measured at fair value, which includes estimated future credit losses expected to be incurred over the life of the loan. Accordingly, the associated allowance for credit losses related to these loans is not Acquired loans that met the criteria for non-accrual of interest prior to acquisition were not may Acquired Non-impaired Loans Acquired loans that do not 310 30 may 310 20. Subsequent to the purchase date, the methods used to estimate the allowance for loan and lease losses for the acquired non-impaired loans are consistent with the policy for allowance for loan and lease losses described below. Allowance for loan and lease losses The allowance for loan and lease losses (“ALLL”) is regularly evaluated by management, based upon the nature and volume of the loan portfolio, periodic review of loan collectability using historical experience rates, adverse situations potentially affecting individual borrowers’ ability to repay, the estimated value of any underlying collateral, and prevailing economic conditions on overall segments of the loan portfolio. This evaluation is inherently subjective as it requires estimates that are susceptible to significant revision as more information becomes available. The non-specific ALLL by loan segment is calculated using a systematic methodology, consisting of a quantitative and qualitative analytical component, applied on a quarterly basis to homogeneous loans. The model is comprised of six Management monitors a distinct set of risk characteristics for each loan segment. Additionally, management assesses and monitors risk and performance on a disaggregated basis, including an internal risk rating system for loans included in the Commercial loan segment and analyzing the type of collateral, lien position, and loan-to-value (i.e., LTV) ratio for loans included in the Consumer loan segment. Management’s ALLL process first not Another key assumption is the look-back period (“LBP”), which represents the historical data period utilized to calculate loss rates. A three After considering the historic loss calculations, management applies additional qualitative adjustments to the ALLL to reflect the inherent risk of loss that exists in the loan portfolio at the balance sheet date. Qualitative adjustments are made based upon changes in economic conditions, loan portfolio and asset quality data, and credit process changes, such as credit policies or underwriting standards. Evaluation of the ALLL requires considerable judgment, in order to adequately estimate and provide for the risk of loss inherent in the loan portfolio segments. Qualitative adjustments are aggregated into the nine ● Changes in lending policies and procedures, including underwriting standards, collection, charge-off, and recovery practices not ● Changes in national, regional, and local economic and business conditions and developments that affect the collectability of the loan portfolio, including the condition of various market segments; ● Changes in the nature and volume of the loan portfolio and terms of loans; ● Changes in the experience, ability and depth of lending management and staff; ● Changes in the volume and loss severity of past due loans, the volume of non-accrual loans, and the volume and loss severity of adversely classified or graded loans; ● Changes in the quality of the loan review system; ● Changes in the value of the underlying collateral for collateral-dependent loans; ● The existence and effect of any concentrations of credit and changes in the level of such concentrations; ● The effect of other external factors such as competition and legal and regulatory requirements on the level of estimated credit losses in our current loan portfolio; and ● An additional risk factor for special mention loans and substandard loans, which is designed to approximate the additional risk of these assets and is based on industry data. Patriot provides for loan losses by consistently applying the documented ALLL methodology. Loan losses are charged to the allowance as incurred and recoveries are credited to the ALLL. Additions to the ALLL are charged against income, based on various factors which, in management’s judgment, deserve current recognition in estimating probable losses. Loan losses are charged-off in the period the loans, or portions thereof, are deemed uncollectible. Generally, Patriot will record a loan charge-off (including a partial charge-off) to reduce a loan to the estimated fair value of the underlying collateral, less costs to sell, for collateral dependent loans. Subsequent recoveries, if any, are credited to the ALLL. Patriot regularly reviews the loan portfolio and makes adjustments for loan losses, in order to maintain the allowance for loan and lease losses in accordance with US GAAP. The allowance for loan and lease losses consists primarily of the following three ( 1 Allowances are established for impaired loans (generally defined by Patriot as non-accrual loans, troubled debt restructured loans, and loans that were previously classified as troubled debt restructurings but have been upgraded). The amount of impairment provided as an allowance is represented by the deficiency, if any, between the present value of expected future cash flows discounted at the loan’s original effective interest rate or the underlying collateral value, less estimated costs to sell, if the loan is collateral dependent, and the carrying value of the loan. Impaired loans that have no not ( 2 General allowances are established for loan losses on a portfolio basis for loans that do not three may may In addition, a risk rating system is utilized to evaluate the general component of the ALLL. Under this system, management assigns risk ratings between one six ( 3 An unallocated component of the ALLL is considered when necessary to cover uncertainties that could affect management's estimate of probable losses. The unallocated component of the ALLL reflects the margin of imprecision inherent in the underlying assumptions used in the methodologies applied to estimating specific and general losses in the loan portfolio. In underwriting a loan secured by real property, a property appraisal is required to be performed by an independent licensed appraiser that has been approved by Patriot’s Board of Directors. Appraisals are subject to review by independent third may In the third 2018, The Bank further segmented its loan pools by Pass, Special Mention, and Substandard risk ratings and assigned additional risk premiums to each group. The qualitative and economic factors for all of the pools and subsegments were also evaluated, with Pass loans receiving adjustments to reflect their credit profile relative to the non-impaired criticized assets. These adjustments generally flow through the qualitative factors addressing severity of past due loans and other similar conditions and the nature and volume of the portfolio and terms of the loans. The Bank’s leveraged lending portfolio was evaluated relative to the rest of the Commercial & Industrial (“C&I”) pool, and an additional risk premium was assigned to those loans in aggregate, and is reflected in the commercial and industrial category in the ALLL calculation. These loans were isolated due their risk parameters and profile, including higher leverage than the rest of the Bank’s C&I portfolio. The Bank’s SBA loan portfolio consists of the unguaranteed portion of certain C&I and Owner-Occupied CRE loans. An additional risk premium was assigned to those loans due to their risk parameters and profile, including higher historical loss rates (based on historical SBA data) than the rest of the C&I and Owner-Occupied CRE portfolio. The change in methodology resulted in better alignment of the credit characteristics of the various risk grades and loan types with the calculated allowance. The provision of $1.3 2018 Acquired loans are marked to fair value on the date of acquisition and are evaluated on a quarterly basis to ensure the necessary purchase accounting updates are made in parallel with the allowance for loan loss calculation. Acquired loans that have been renewed since acquisition are included in the allowance for loan loss calculation since these loans have been underwritten to the Bank’s guidelines. Acquired loans that have not While Patriot uses the best information available to evaluate the ALLL, future adjustments to the ALLL may may Transfers of financial assets Transfers of financial assets are accounted for as sales, when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when ( 1 2 no 3 not Loans Held for Sale Loans held for sale represent the guaranteed portion of Small Business Administration (“SBA”) loans and are reflected at the lower of aggregate cost or market value. Patriot originates loans to customers under a SBA program that historically has provided for SBA guarantees of 75 third Servicing Assets Servicing assets represent the estimated fair value of retained servicing rights, net of servicing costs, at the time loans are sold. Servicing assets are amortized in proportion to, and over the period of, estimated net servicing revenues. Impairment is evaluated based on stratifying the underlying financial assets by date of origination and term. Fair value is determined using prices for similar assets with similar characteristics, when available, or based upon discounted cash flows using market-based assumptions. Any impairment, if temporary, would be reported as a valuation allowance. Other real estate owned Assets acquired through, or in lieu of, loan foreclosure are held for sale and are initially recorded at fair value less cost to sell at the date of foreclosure, establishing a new cost basis. In addition, when Patriot acquires other real estate owned (“OREO”), it obtains a current appraisal to substantiate the net carrying value of the asset. Subsequent to foreclosure, valuations are periodically performed by management and the assets are carried at the lower of carrying amount or fair value less cost to sell. Revenue and expenses from operations and changes in the valuation allowance are included in the results of operations. Costs relating to the development and improvement of the property are capitalized, subject to the limit of fair value of the collateral. Gains or losses are included in non-interest expenses upon disposal. Write-downs of foreclosed properties that are required upon transfer to OREO are charged to the ALLL. Thereafter, an allowance for OREO losses is established for any further declines in the property’s value. These losses are included in non-interest expenses in the Consolidated Statements of Income. Premises and equipment Premises and equipment are stated at cost, net of accumulated depreciation and amortization. Leasehold improvements are capitalized and amortized over the shorter of the terms of the related leases or the estimated economic lives of the improvements. Depreciation is charged to operations for buildings, furniture, equipment and software using the straight-line method over the estimated useful lives of the related assets which range from three forty Impairment of long-lived assets Long-lived assets, which are held and used, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not Intangible Assets Intangible assets include core deposit intangibles (“CDI”) and goodwill arising from acquisitions. The initial and ongoing carrying value of intangible assets is based upon modeling techniques that require management to make estimates regarding the amount and timing of expected future cash flows. It also requires use of a discount rate that reflects the current return requirements of the market in relation to present risk-free interest rates, required equity market premiums, peer volatility indicators, and company-specific risk indicators. CDI is amortized on straight-line basis over a 10 may not The Company evaluates goodwill for impairment on an annual basis, or more often if events or circumstances indicate there may October Contingent Consideration Contingent consideration represents an estimate of the additional amount of purchase price consideration and is measured based on the probability that certain loans are restructured in accordance with the related acquisition agreement. Resolution of the contingent consideration will result in a cash payment and will be reflected in the financial statements as a measurement period adjustment as they are finalized. Changes will be recognized as an increase or decrease to goodwill, the valuation of the related loans and the contingent consideration/purchase price. 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. Derivatives Patriot enters into interest rate swap agreements (“swaps”), to provide a facility to mitigate for the borrower the fluctuations in the variable rate on the respective loan. The customer swaps are simultaneously hedge by offsetting derivatives that Patriot entered into with an outside third not The credit risk associated with derivatives executed with customers is similar as that involved in extending loans and is subject to normal credit policies. Collateral is obtained based on management’s assessment of the customer. The positions of customer derivatives are recorded at fair value and changes in value are included in noninterest income on the consolidated statement of income. Income taxes Patriot recognizes income taxes under the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the estimated tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, and loss carry forwards. Deferred tax assets (“DTA”s) and liabilities (“DTL”s) are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on DTAs and DTLs of a change in tax rates is recognized in income in the period that includes the enactment date. On December 22, 2017, 21% 35%, December 2017, $2.8 December 31, 2017. In addition, for the year ended December 31, 2017, $2.8 382 In certain circumstances DTAs are subject to reduction by a valuation allowance. A valuation allowance is subject to ongoing adjustment based on changes in circumstances that affect management’s judgment about the realizability of the deferred tax asset. Adjustments to increase or decrease the valuation allowance are charged or credited to the deferred tax component of the income tax provision or benefit. Patriot evaluates its ability to realize its net deferred tax assets on a quarterly basis. In doing so, management considers all available evidence, both positive and negative, to determine whether it is more likely than not 2019 2018 not 2030. no December 31, 2019 2018. Management will continue to evaluate its ability to realize the net deferred tax asset. Future evidence may not not may Patriot had a net deferred tax asset of $11.1 December 31, 2019 $10.9 December 31, 2018. Unrecognized tax benefits Patriot recognizes a benefit from its tax positions only if it is more likely than not 50% Patriot’s returns for tax years 2016 2019 As of December 31, 2019 2018, $1.2 $1.1 no The Company’s policy is to recognize interest and penalties related to income tax matters in income tax expense. Earnings per Share Basic earnings per share represents earnings accruing to common shareholders and 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 securities had been converted to common stock, as well as any adjustments to earnings resulting from the assumed conversion, unless such effect is anti-dilutive. Potential common shares that may Share-based compensation plan Incentive and compensatory share-based compensation granted to employees is accounted for at the grant date fair value of the award and recognized in the results of operations as compensation expense with an off-setting entry to equity on a straight-line basis over the requisite service period, which is the vesting period. Non-employee members of the Board of Directors are treated as employees for any share-based compensation granted in exchange for their service on the Board of Directors. Patriot does not The Compensation Committee of the Board of Directors establishes terms and conditions applicable to the vesting of restricted stock awards and stock options. Restricted stock grants generally vest in quarterly or annual installments over a three, four five Comprehensive income Accounting principles generally require that recognized revenues, expenses, gains and losses be included in net income. Although certain changes in assets and liabilities, such as unrealized gains and losses on available-for-sale securities, are reported as a separate component of shareholders' equity in the Consolidated Balance Sheets, such items, along with net income, are components of comprehensive income. Segment reporting Patriot’s only business segment is Community Banking. During the years ended December 31, 2019, 2018 2017, Reserve for Unfunded Commitments The reserve for unfunded commitments provides for probable losses inherent with funding the unused portion of legal commitments to lend. The unfunded reserve calculation includes factors that are consistent with the ALLL methodology for our loan portfolio as well as a draw down factor applied to the various commitments. The reserve for unfunded commitments is included within other liabilities in the accompanying Consolidated Balance Sheets, and changes in the reserve are reported as a component of other expense in the accompanying Consolidated Statements of Income. See Note 18: Related Party Transactions Directors and officers of the Company and their affiliates have been customers of and have had transactions with the Company, and it is expected that such persons will continue to have such transactions in the future. Management believes that all deposit accounts, loans, services and commitments comprising such transactions were made in the ordinary course of business, on substantially the same terms, including interest rates and collateral, as those prevailing at the time for comparable transactions with other customers who are not not 20 Fair value Patriot uses fair value measurements to record adjustments to the carrying amounts of certain assets and liabilities. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value is best determined based upon quoted market prices. However, in certain instances, there are no not may not Provided in these notes to the Consolidated Financial Statements is a detailed summary of Patriot’s application of fair value measurements and the effect on the assets and liabilities presented in the Consolidated Financial Statements. Advertising Costs Patriot's policy is to expense advertising costs in the period in which they are incurred. Project expenses Project expenses represent non-recurring expenses, primarily legal and consulting not 2019, third November 2018, Revenue Recognition ASC 606, 606" The majority of our revenue-generating transactions are not 606, 606, ● Service charges on deposit accounts - these represent general service fees for monthly account maintenance and activity- or transaction based fees and consist of transaction-based revenue, time-based revenue (service period), item-based revenue or some other individual attribute-based revenue. Revenue is recognized when our performance obligation is completed which is generally monthly for account maintenance services or when a transaction has been completed (such as a wire transfer). Payment for such performance obligations are generally received at the time the performance obligations are satisfied. Recently Adopted and Issued Accounting Standards 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 2016 12 not 12 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 not ASU 2017 12 "Derivatives and Hedging (Topic 815 Targeted Improvements to Accounting for Hedging Activities 2017 12 October 2018, 2018 16, 815 2018 16 2017 12. 2017 12 December 15, 2018, 2017 12 2018 16 not ASU 2017 04 In January 2017, 2017 04, Intangibles-Goodwill and Other (Topic 350 2 not not December 15, 2019 2017 04 June 30, 2019. Accounting Standards Issued But Not ASU 2016 13 In June 2016, 2016 13, not 2016 13 2016 13 December 15, 2019, December 15, 2018. November 2019, 2019 10, 326 December 31, 2022, 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 ASU 2018 15 In August 2018, No. 2018 15, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350 40 2018 15 2015 05, April 2015. 2018 15 December 15, 2019, 2018 15 not ASU 2019 12 ASU 2019 12, Income Taxes (Topic 740 740 2019 12 January 1, 2021, not |
Note 2 - Restrictions on Cash a
Note 2 - Restrictions on Cash and Due From Banks | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Restrictions on Cash and Due from Banks Disclosure [Text Block] | Note 2. Restrictions on Cash and Due from Banks Federal Reserve System regulations require depository institutions to maintain cash reserves against their transaction accounts, primarily interest-bearing and regular checking accounts. The required cash reserves can be in the form of vault cash and, if vault cash does not $16 not December 31, 2019 2018. |
Note 3 - Available-for-sale Sec
Note 3 - Available-for-sale Securities | 12 Months Ended |
Dec. 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 At December 31, 2019 2018, (In thousands) Amortized Gross Gross Fair December 31, 2019: U. S. Government agency mortgage-backed securities $ 16,663 $ 90 $ (68 ) $ 16,685 Corporate bonds 18,018 133 (838 ) 17,313 Subordinated notes 9,022 182 - 9,204 SBA loan pools 5,157 - (42 ) 5,115 $ 48,860 $ 405 $ (948 ) $ 48,317 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 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 December 31, 2019 2018: (In thousands) Less than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized December 31, 2019: U. S. Government agency mortgage-backed securities $ 2,609 $ (20 ) $ 3,919 $ (48 ) $ 6,528 $ (68 ) Corporate bonds - - 13,162 (838 ) 13,162 (838 ) SBA loan pools 5,115 (42 ) - - 5,115 (42 ) $ 7,724 $ (62 ) $ 17,081 $ (886 ) $ 24,805 $ (948 ) 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 December 31, 2019 2018, fifteen twenty-seven ten sixteen 3.7% 4.4% Management believes that none not not not none December 31, 2019. Available-for-sale securities of $4.8 $7.0 December 31, 2019 2018, December 31, 2019, $4.8 December 31, 2018, $5.5 $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 December 31, 2019 2018. not may (In thousands) Amortized Cost Fair Value Due Due After Due Total Due Due After Due Total December 31, 2019: Corporate bonds $ 4,018 $ 14,000 $ - $ 18,018 $ 4,151 $ 13,162 $ - $ 17,313 Subordinated notes - 9,022 - 9,022 - 9,204 - 9,204 SBA loan pools - 5,157 - 5,157 - 5,115 - 5,115 Available-for-sale securities with stated maturity dates 4,018 28,179 - 32,197 4,151 27,481 - 31,632 U. S. Government agency mortgage-backed securities 3,805 2,047 10,811 16,663 3,810 2,016 10,859 16,685 $ 7,823 $ 30,226 $ 10,811 $ 48,860 $ 7,961 $ 29,497 $ 10,859 $ 48,317 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 stated 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 - Loan Receivable and Al
Note 4 - Loan Receivable and Allowance for Loan and Lease Losses | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | Note 4. Loan Receivables and Allowance for Loan and Lease Losses As of December 31, 2019 2018, December 31, (In thousands) 2019 2018 Loan portfolio segment: Commercial Real Estate $ 314,414 $ 274,938 Residential Real Estate 175,489 157,300 Commercial and Industrial 173,875 191,852 Consumer and Other 85,934 94,569 Construction 48,388 46,040 Construction to Permanent - CRE 14,064 15,677 Loans receivable, gross 812,164 780,376 Allowance for loan and lease losses (10,115 ) (7,609 ) Loans receivable, net $ 802,049 $ 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 May 2018, 310 30. $176,000 December 31, 2019 $615,000 December 31, 2018, 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 year ended December 31, 2019 2018 (In thousands) For the Year Ended December 31, 2019 2018 Accretable discount, beginning of period $ (792 ) $ (1,316 ) Accretion 47 92 Other changes, net 698 432 Accretable discount, end of period $ (47 ) $ (792 ) The accretion of the accretable discount for PCI loans for the year end December 31,2019 2018 $47,000 $92,000, Risk characteristics of the Company’s portfolio classes include the following : Commercial Real Estate Loans In underwriting commercial real estate loans, Patriot evaluates both the prospective borrower’s ability to make timely payments on the loan and the value of the property securing the loans. Repayment of such loans may may Residential Real Estate Loans In 2013, may In 2019 2018, $47.3 $25.6 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’s syndicated and leveraged loan portfolios, which totaled $71.5 $81.9 December 31, 2019 2018, Consumer and Other Loans Patriot offers individual consumers various forms of credit including installment loans, credit cards, overdraft protection, auto loans, 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 During 2019 2018, $7.3 $21.4 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”) Loans in this category represent a one 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. SBA Loans: Patriot originates SBA 7 75 $9.6 $1.5 December 31, 2019 2018, Allowance for Loan and Lease Losses The following tables summarize the activity in the allowance for loan and lease losses, allocated to segments of the loan portfolio, for each year in the three December 31, 2019: (In thousands) Commercial Residential Commercial Consumer Construction Construction Unallocated Total As of and for the year ended Allowance for loan and lease losses: December 31, 2018 $ 1,866 $ 1,059 $ 3,558 $ 641 $ 350 $ 108 $ 27 $ 7,609 Charge-offs - (118 ) (2,418 ) (123 ) - - - (2,659 ) Recoveries 2 10 172 10 - - - 194 Provisions (credits) 1,921 87 3,028 (187 ) 127 22 (27 ) 4,971 December 31, 2019 $ 3,789 $ 1,038 $ 4,340 $ 341 $ 477 $ 130 $ - $ 10,115 As of and for the year ended Allowance for loan and lease losses: December 31, 2017 $ 2,212 $ 959 $ 2,023 $ 568 $ 481 $ 54 $ - $ 6,297 Charge-offs - (2 ) - (33 ) - - - (35 ) Recoveries 7 2 34 1 - - - 44 Provisions (credits) (353 ) 100 1,501 105 (131 ) 54 27 1,303 December 31, 2018 $ 1,866 $ 1,059 $ 3,558 $ 641 $ 350 $ 108 $ 27 $ 7,609 As of and for the year ended Allowance for loan and lease losses: December 31, 2016 $ 1,853 $ 534 $ 740 $ 641 $ 712 $ 69 $ 126 $ 4,675 Charge-offs - - (265 ) (39 ) - - - (304 ) Recoveries 10 - 2,769 4 - - - 2,783 Provisions (credits) 349 425 (1,221 ) (38 ) (231 ) (15 ) (126 ) (857 ) December 31, 2017 $ 2,212 $ 959 $ 2,023 $ 568 $ 481 $ 54 $ - $ 6,297 The following tables summarize, by loan portfolio segment, the amount of loans receivable evaluated individually and collectively for impairment as of December 31, 2019 2018: (In thousands) Commercial Residential Commercial Consumer Construction Construction Unallocated Total December 31, 2019 Allowance for loan and lease losses: Individually evaluated $ 1,496 $ - $ - $ - $ - $ - $ - $ 1,496 Collectively evaluated 2,293 1,038 4,340 341 477 130 - 8,619 Total allowance for loan and lease losses $ 3,789 $ 1,038 $ 4,340 $ 341 $ 477 $ 130 $ - $ 10,115 Loans receivable, gross: Individually evaluated $ 13,034 $ 3,621 $ 2,057 $ 916 $ - $ - $ - $ 19,628 PCI loans individually evaluated for impairment - - 176 - - - - 176 Collectively evaluated 301,380 171,868 171,642 85,018 48,388 14,064 - 792,360 Total loans receivable, gross $ 314,414 $ 175,489 $ 173,875 $ 85,934 $ 48,388 $ 14,064 $ - $ 812,164 (In thousands) Commercial Residential Commercial Consumer Construction Construction Unallocated Total December 31, 2018 Allowance for loan and lease losses: Individually evaluated $ - $ 216 $ 1,299 $ 30 $ - $ - $ - $ 1,545 Collectively evaluated 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 $ 4,606 $ 2,302 $ 4,646 $ 864 $ 8,800 $ - $ - $ 21,218 PCI loans individually evaluated for impairment - - 615 - - - - 615 Collectively evaluated 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 cash flow from business operations, 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 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 of loans to reduce the loan to its recoverable value that are solely collateral dependent, generally occur immediately upon confirmation of the partial loss amount. Loans that are cash flow dependent are modeled to reflect the expected cash flows through expected loan maturity, including any proceeds from refinancing or principal curtailment. A specific reserve is established for the amount by which the net investment in the loan exceeds the present value of discounted cash flows. Charge-offs on cash flow dependent loans also generally occur immediately upon confirmation of the partial loss amount. If either type of loan is classified as “Loss”, meaning full loss on the loan is expected, the full balance of the loan receivable is charged off, regardless of the potential recovery from a sale of the underlying collateral. Any amount that may 180 120 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 December 31, 2019. (In thousands) Performing (Accruing) Loans As of December 31, 2019: 30 - 59 Days 60 - 89 Days 90 Days Total Current Total Non-accruing Loans Loan portfolio segment: Commercial Real Estate: Pass $ - $ - $ - $ - $ 295,982 $ 295,982 $ - $ 295,982 Special mention - - - - 385 385 - 385 Substandard - - - - 6,086 6,086 11,961 18,047 - - - - 302,453 302,453 11,961 314,414 Residential Real Estate: Pass 658 - - 658 169,903 170,561 - 170,561 Special mention - - - - - - - - Substandard - - - - 1,700 1,700 3,228 4,928 658 - - 658 171,603 172,261 3,228 175,489 Commercial and Industrial: Pass 327 350 - 677 162,711 163,388 - 163,388 Special mention 279 - - 279 172 451 - 451 Substandard - - - - 7,942 7,942 2,094 10,036 606 - - 956 170,825 171,781 2,094 173,875 Consumer and Other: Pass 2,805 3 19 2,827 82,341 85,168 - 85,168 Substandard - - - - - - 766 766 2,805 3 19 2,827 82,341 85,168 766 85,934 Construction: Pass - - - - 48,388 48,388 - 48,388 - - - - 48,388 48,388 - 48,388 Construction to Permanent - CRE: Pass - - - - 14,064 14,064 - 14,064 - - - - 14,064 14,064 - 14,064 Total $ 4,069 $ 353 $ 19 $ 4,441 $ 789,674 $ 794,115 $ 18,049 $ 812,164 Loans receivable, gross: Pass $ 3,790 $ 353 $ 19 $ 4,162 $ 773,389 $ 777,551 $ - $ 777,551 Special mention 279 - - 279 557 836 - 836 Substandard - - - - 15,728 15,728 18,049 33,777 Loans receivable, gross $ 4,069 $ 353 $ 19 $ 4,441 $ 789,674 $ 794,115 $ 18,049 $ 812,164 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 December 31, 2018. (In thousands) Performing (Accruing) Loans As of December 31, 2018: 30 - 59 Days 60 - 89 Days 90 Days 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 - 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 December 31, 2019 2018: (In thousands) Non-accruing Loans 30 - 59 60 - 89 90 Days or Total Current Total As of December 31, 2019: Loan portfolio segment: Commercial Real Estate: Substandard $ - $ - $ 1,636 $ 1,636 $ 10,325 $ 11,961 Residential Real Estate: Substandard - - 1,872 1,872 1,356 3,228 Commercial and Industrial: Substandard - - 1,724 1,724 370 2,094 Consumer and Other: Substandard - - 149 149 617 766 Total non-accruing loans $ - $ - $ 5,381 $ 5,381 $ 12,668 $ 18,049 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 (net of cash collected) of approximately $302,000, $503,000, $209,000 December 31, 2019, 2018, 2017, Interest income collected and recognized on non-accruing loans for the year ended December 31, 2019 $671,000. No 2018 2017. The accrual of interest on loans is discontinued at the time the loan is 90 no 180 All interest accrued, but not six 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 as of December 31, 2019 2018 $11.0 $2.1 (In thousands) December 31, 2019 December 31, 2018 Loan portfolio segment: Number of Loans Recorded Investment Number of Loans Recorded Investment Commercial Real Estate 2 $ 9,873 1 $ 1,081 Residential Real Estate 2 393 1 296 Consumer and Other 2 687 2 689 Total TDR Loans 6 10,953 4 2,066 Less: TDRs included in non-accrual loans 2 (9,337 ) - - Total accrual TDR Loans 4 $ 1,616 4 $ 2,066 The following loans were modified as TDR during the year ended December 31, 2019. Outstanding Recorded Investment (In thousands) Number of Loans Pre-Modification Post-Modification Year Ended December 31, 2019 2019 2019 Loan portfolio segment: Commercial Real Estate 2 $ 8,912 $ 8,911 Total TDR Loans 2 $ 8,912 $ 8,911 The following table provides information on how loans were modified as TDRs during the year ended December 31, 2019. Year Ended (In thousands) 2019 Rate reduction $ 111 Maturity and rate reduction 8,800 Total $ 8,911 The 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. During the years ended December 31, 2018 2017, no no December 31, 2019 2018, no The balances reflected here as TDR’s are also included in the non-accruing loan balance included in the prior table - Loan Portfolio Aging Analysis. Impaired Loans Impaired loans may December 31, 2019 2018, $19.6 $21.2 $1.5 $1.5 not no At December 31, 2019 2018, 27 25 first 12% 8% may may In addition, the remaining $176,000 December 31, 2019, no The following table reflects information about the impaired loans, excluding PCI loans, by class as of December 31, 2019 2018: (In thousands) December 31, 2019 December 31, 2018 Recorded Principal Related Recorded Principal Related With no related allowance recorded: Commercial Real Estate $ 4,234 $ 4,309 $ - $ 4,606 $ 5,109 $ - Residential Real Estate 3,621 3,623 - 670 703 - Commercial and Industrial 2,057 2,060 - 488 1,281 - Consumer and Other 916 1,000 - 827 867 - Construction - - - 8,800 8,839 - 10,828 10,992 - 15,391 16,799 - With a related allowance recorded: Commercial Real Estate 8,800 8,800 1,496 - - - Residential Real Estate - - - 1,632 1,632 216 Commercial and Industrial - - - 4,158 4,208 1,299 Consumer and Other - - - 37 37 30 8,800 8,800 1,496 5,827 5,877 1,545 Impaired Loans, Total: Commercial Real Estate 13,034 13,109 1,496 4,606 5,109 - Residential Real Estate 3,621 3,623 - 2,302 2,335 216 Commercial and Industrial 2,057 2,060 - 4,646 5,489 1,299 Consumer and Other 916 1,000 - 864 904 30 Construction - - - 8,800 8,839 - Impaired Loans, Total $ 19,628 $ 19,792 $ 1,496 $ 21,218 $ 22,676 $ 1,545 For each year in the three December 31, 2019, Year Ended December 31, (In thousands) 2019 2018 2017 Average Interest Average Interest Average Interest With no related allowance recorded: Commercial Real Estate $ 9,829 $ 95 $ 3,318 $ 100 $ 5,832 $ 102 Residential Real Estate 2,531 104 3,154 11 2,016 11 Commercial and Industrial 1,800 45 987 - 197 - Consumer and Other 901 35 750 31 593 22 Construction 4,062 - 1,354 503 - - 19,123 279 9,563 645 8,638 135 With a related allowance recorded: Commercial Real Estate 888 415 - - - - Residential Real Estate 952 - 126 - - - Commercial and Industrial 1,714 - 474 - 243 - Consumer and Other 18 - 9 - - - 3,572 415 609 - 243 - Impaired Loans, Total: Commercial Real Estate 10,717 510 3,318 100 5,832 102 Residential Real Estate 3,483 104 3,280 11 2,016 11 Commercial and Industrial 3,514 45 1,461 - 440 - Consumer and Other 919 35 759 31 593 22 Construction 4,062 - 1,354 503 - - Impaired Loans, Total $ 22,695 $ 694 $ 10,172 $ 645 $ 8,881 $ 135 |
Note 5 - Loans Held for Sale
Note 5 - Loans Held for Sale | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Loans Held for Sale [Text Block] | Note 5. Loans Held for Sale Loans held for sale represent the guaranteed portion of SBA loans originated and are reflected at the lower of aggregate cost or market value. There were $15.3 December 31, 2019, $10.2 $5.1 The Company generally sells the guaranteed portion of its SBA loans to a third Servicing assets represent the estimated fair value of retained servicing rights, net of servicing costs, at the time loans are sold. Servicing assets are amortized in proportion to, and over the period of, estimated net servicing revenues. Impairment will be evaluated based on stratifying the underlying financial assets by date of origination and term. Fair value is determined using prices for similar assets with similar characteristics, when available, or based upon discounted cash flows using market-based assumptions. Any impairment, if temporary, would be reported as a valuation allowance. Serviced loans sold to others are not third $13.6 $1.9 December 31, 2019 2018, $201,000 $280,000 December 31, 2019. The following table presents an analysis of the activity in the SBA servicing assets for the years ended December 31, 2019 2018: (In thousands) Year Ended December 31, 2019 2018 Beginning balance $ 37 - Servicing rights capitalized 180 42 Servicing rights amortized (16 ) (5 ) Ending balance 201 37 No December 31, 2017. |
Note 6 - Premises and Equipment
Note 6 - Premises and Equipment | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | Note 6. Premises and Equipment At December 31, 2019 2018, (In thousands) Balance as of December 31, 2019 2018 Land $ 12,819 $ 12,819 Buildings 20,287 20,200 Leasehold Improvements 4,024 3,891 Furniture, equipment, and software 11,687 11,242 Construction-in-progress 50 113 Premises and equipment, gross 48,867 48,265 Accumulated depreciation and amortization (14,299 ) (12,830 ) Premises and equipment, net $ 34,568 $ 35,435 For the years ended December 31, 2019, 2018 2017, $1.6 $1.5 $1.2 |
Note 7 - Other Real Estate Owne
Note 7 - Other Real Estate Owned ("OREO") | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Real Estate Owned [Text Block] | Note 7. Other Real Estate Owned (“OREO”) As of December 31, 2019 2018, $2.4 $2.9 2019 two December 31, 2018, one May 2018, 2019 $14,000. No 2018. |
Note 8 - Business Combination,
Note 8 - Business Combination, Goodwill and Other Intangible Assets | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | Note 8. Business Combination, Goodwill and Other Intangible Assets Acquisition of Prime Bank The Company’s acquisitions are accounted for under the acquisition method of accounting in accordance with ASC 805, one On May 10, 2018 The assets acquired and liabilities assumed from Prime Bank were recorded at their estimated fair value as of the closing date of the acquisition. Goodwill of $2.1 $1.7 December 31, 2018, $1.1 $621,000 May 10, 2019. no December 31, 2019. 15 Information on goodwill for the year ended December 31, 2019 2018 For the Year Ended December 31, (In thousands) 2019 2018 Balance, resulting from acquisition $ 1,728 $ 1,728 Mesurement period adjustments (621 ) - Balance, end of period $ 1,107 $ 1,728 Goodwill is evaluated for impairment annually or whenever we identify certain triggering events or circumstances that would more likely than not The Company performed a quantitative assessment as of October 31, 2019, not December 31, 2019. CDI was recorded as part of the Prime Bank business combination in May 2018. 10 December 31, 2019 2018, $75,000 $50,000, The table below provides information regarding the carrying amounts and accumulated amortization of amortized intangible assets as of the dates set forth below. For the Year Ended December 31, (In thousands) 2019 2018 Gross Intangible asset $ 748 $ 748 Accumulated amortization (125 ) (50 ) Core deposit intangible, net $ 623 $ 698 Acquisition of Hana Small Business Lending and Subsequent Termination On February 6, 2018, three On August 2, 2018, three August 2, 2018 August 1, 2019. On October 29, 2018 March 30, 2019, not On March 30, 2019 For the year ended December 31, 2018, $1.15 |
Note 9 - Deposits
Note 9 - Deposits | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Deposit Liabilities Disclosures [Text Block] | Note 9. Deposits The following table presents the balance of deposits held, by category, and the related weighted average stated interest rate as of December 31, 2019 2018. December 31, 2019 2018 (In thousands) Balance Weighted Balance Weighted Non-interest bearing $ 88,135 $ - $ 84,471 - Interest bearing: NOW 26,864 0.08 % 26,100 0.08 % Savings 64,020 0.76 % 81,912 0.72 % Money market 99,115 1.85 % 85,197 1.82 % Certificates of deposit, less than $250,000 193,942 2.19 % 203,683 1.83 % Certificates of deposit, $250,000 or greater 67,550 2.48 % 78,318 2.20 % Brokered deposits 229,909 2.01 % 183,600 2.29 % Interest bearing, Total 681,400 1.89 % 658,810 1.79 % Total Deposits $ 769,535 1.68 % $ 743,281 1.59 % The following table presents interest expense, by deposit category, and the related weighted average effective interest rate for each of the years in the three December 31, 2019. (In thousands) Year ended December 31, 2019 2018 2017 Interest Weighted Interest Weighted Interest Weighted NOW $ 18 0.07 % $ 15 0.06 % $ 7 0.03 % Savings 429 0.63 % 995 0.85 % 1,160 0.81 % Money market 2,048 2.00 % 549 1.34 % 5 0.04 % Certificates of deposit, less than $250,000 4,986 2.38 % 3,048 1.57 % 1,875 1.05 % Certificates of deposit, $250,000 or greater 1,546 2.01 % 1,226 1.68 % 912 1.46 % Brokered deposits 4,958 2.47 % 3,191 1.91 % 989 1.24 % $ 13,985 2.05 % $ 9,024 1.46 % $ 4,948 0.99 % As of December 31, 2019, (In thousands) CDs CDs Brokered Total 1 year or less $ 177,878 $ 64,158 $ 206,707 $ 448,743 More than 1 year through 2 years 12,270 2,042 17,605 31,917 More than 2 years through 3 years 2,530 765 5,347 8,642 More than 3 years through 4 years 387 585 - 972 More than 4 years through 5 years 877 - 250 1,127 $ 193,942 $ 67,550 $ 229,909 $ 491,401 |
Note 10 - Borrowings
Note 10 - Borrowings | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | Note 10. Borrowings As of December 31, 2019 2018, $130.9 $131.0 The senior notes, subordinated notes, junior subordinated debentures contain affirmative covenants that require the Company to: maintain its and its subsidiaries’ legal entity and tax status, pay its income tax obligations on a timely basis, and comply with SEC and FDIC reporting requirements. Federal Home Loan Bank borrowings The Company is a member of the Federal Home Loan Bank of Boston ("FHLB-B"). Borrowings from the FHLB-B are limited to a percentage of the value of qualified collateral, as defined on the FHLB-B Statement of Products Policy. Qualified collateral, as defined, primarily consists of mortgage-backed securities and loans receivable that are required to be free and clear of liens and encumbrances, and may not December 31, 2019, $63.9 FHLB-B advances are structured to facilitate the Bank’s management of its balance sheet and liquidity requirements. At December 31, 2019 2018, $100.0 $100.0 At December 31, 2019, $90.0 1.85% 3.61% 2 4.7 2.99%. two $50.0 October 2023. The remaining $10.0 October 2020. two 100 4.23% At December 31, 2019, $264.0 In addition, Patriot has a $2.0 December 31, 2019 2018, no Interest expenses incurred for FHLB-B borrowing for the year ended December 31, 2019 2018 $2.2 $1.6 Correspondent Bank - Lines of Credit Patriot has entered into unsecured federal funds sweep and federal funds line of credit facility agreements with certain correspondent Banks. As of December 31, 2019 2018, $5 $26 There was no December 31, 2019 2018. December 31, 2019 2018 $2,000 $13,000, Senior notes On December 22, 2016, $12 7% December 22, 2021 ( June 22 December 22 June 22, 2017. In connection with the issuance of the Senior Notes, the Company incurred $374,000 December 31, 2019 2018, $147,000 $222,000 The Senior Notes are unsecured, rank equally with all other senior obligations of the Company, are not may no For the year ended December 31, 2019 2018, $915,000 $915,000, 7.6%, $75,000 $75,000, December 31, 2019 2018, $23,000 $23,000 Subordinated notes On June 29, 2018, two $10 September 30, 2028 4 2 1933, 506 The Subordinated Notes initially bear interest at 6.25% June 29, 2018, June 30, 2023, June 30, 2023, June 30, 2028 three not zero 332.5 may, June 30, 2023 December 30, 2018. In connection with the issuance of the Subordinated Notes, the Company incurred $291,000 December 31, 2019 2018, $248,000 $277,000 December 31, 2019 2018, $656,000 $327,000, Junior subordinated debt owed to unconsolidated trust In 2003, no $8.0 $240,000 Trust preferred securities currently qualify for up to 25% 2 The junior subordinated debentures are unsecured obligations of the Company. The debentures are subordinate and junior in right of payment to all present and future senior indebtedness of the Company. In addition to its obligations under the junior subordinated debentures and in conjunction with the Trust, the Company issued an unconditional guarantee of the trust preferred securities. The junior subordinated debentures bear interest at three 3.15% 5.10% December 31, 2019 March 26, 2033, second 2009, 20 June 2014, $1.7 September 2016, $0.7 The placement fee of $240,000 December 31, 2019 2018, $8,000 $7,000 $462,000 $440,000, December 31, 2019 2018, $146,000 $154,000, $6,000 $8,000, At its option, exercisable on a quarterly basis, the Company may Note Payable In September 2015, $2.0 $2.0 nine 1.75% December 31, 2019 2018, $1.2 $1.4 August 2024 $234,000. first December 31, 2019 2018 $23,000 $26,000, Maturity of borrowings At December 31, 2019, (In thousands) Year ending December 31, FHLB-B Senior Subordinated Junior Subordinated Debt Note Total 2020 $ 10,000 - - - 199 10,199 2021 - 12,000 - - 202 12,202 2022 - - - - 206 206 2023 60,000 - - - 210 60,210 2024 30,000 - - - 376 30,376 Thereafter - - 10,000 8,248 - 18,248 Total contractual maturities of borrowings 100,000 12,000 10,000 8,248 1,193 131,441 Unamortized debt issuance costs - (147 ) (248 ) (146 ) - (541 ) Balance of borrowings at December 31, 2019 $ 100,000 11,853 9,752 8,102 1,193 130,900 |
Note 11 - Derivatives
Note 11 - Derivatives | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | Note 11. Derivatives Patriot is a party to interest rate swaps; derivatives that are not third not Patriot entered the two November 2018; two May 2019. December 31, 2019 2018, $1.1 $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 December 31, 2019: Classified in Other Assets: Customer interest rate swap $ 4,944 9.3 5.25 % 1 Mo. LIBOR + 1.96% $ 617 Customer interest rate swap 1,444 9.5 4.38 % 1 Mo. LIBOR + 2.00% 77 Classified in Other Liabilities: 3rd party interest rate swap $ 4,944 9.3 5.25 % 1 Mo. LIBOR + 1.96% $ (617 ) 3rd party interest rate swap 1,444 9.5 4.38 % 1 Mo. LIBOR + 2.00% (77 ) 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 12 - Leases
Note 12 - Leases | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | Note 12. 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 nine four three one 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. $3.2 $3.3 December 31, 2019. 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 December 31, 2019, $517,000 $27,000, The following is a maturity analysis of the operating lease liabilities as of December 31, 2019: (in thousands) Operating lease Years ending December 31, Obligation 2020 $ 520 2021 531 2022 497 2023 463 2024 350 Thereafter 1,564 Total undiscounted lease payments $ 3,925 Less imputed interest (661 ) Present value of operating lease liabilities $ 3,264 Operating lease right-of-use asset $ 3,160 Year Ended December 31, 2019 Lease cost Operating lease cost $ 517 Short-term lease cost 119 Total lease cost $ 636 Other information Operating cash flows from operating leases $ 459 Weighted -average remaining lease term - operating leases (in years) 10 Weighted -average discount rate - operating leases 3.48 % The undiscounted lease payments of $3.9 not $2.0 Rent expense for operating leases is recognized in earnings on a straight-line basis over the base term of the respective lease and is included in the Statement of Income as a component of Occupancy and Equipment expense. For the years ended December 31, 2019, 2018 2017, $636,000, $593,000, $953,000, For the years ended December 31, 2019, 2018 2017, $589,000, $413,000, $399,000 $5,000, $5,000, $5,000, |
Note 13 - Commitments and Conti
Note 13 - Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | Note 13. Commitments and Contingencies Employment Agreements The Company has a severance agreement for certain Executive Vice Presidents that provides for severance equal to 12 12 Legal Matters Patriot does not not |
Note 14 - Income Taxes
Note 14 - Income Taxes | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | Note 14. Income Taxes Following is a summary of the components of the federal and state income tax expense (benefit) for each of the years in the three December 31, 2019. (In thousands) Year Ended December 31, 2019 2018 2017 Current: Federal $ 88 $ 447 $ 252 State 149 708 365 237 1,155 617 Deferred: Federal (698 ) 148 2,067 State (438 ) (413 ) 191 (1,136 ) (265 ) 2,258 Income tax (benefit) expense $ (899 ) $ 890 $ 2,875 For each of the years in the three December 31, 2019, (In thousands) Year Ended December 31, 2019 2018 2017 Income taxes at statutory Federal rate $ (780 ) $ 858 $ 2,387 State taxes, net of Federal benefit (228 ) 233 377 Nondeductible expenses 14 15 11 Benefit of change in Sec 382 classification - (500 ) (2,774 ) Deferred tax adjustment resulting from tax rate change - 198 2,809 Other 95 86 65 Income tax (benefit) expense $ (899 ) $ 890 $ 2,875 The effective tax rate for the years ended December 31, 2019, 2018 2017 24.2%, 21.8%, 41.1%, There were no 2019 2018. 2018 21% 34% January 1, 2018. The effective tax rate for the year ended December 31, 2017 two - The provision increased by $2.8 21% December 2017. - In 2017, $2.8 382 one fourth 2017, two third not Deferred Tax Assets and Liabilities The significant components of Patriot’s net deferred tax assets at December 31, 2019 2018 (In thousands) December 31, 2019 2018 Deferred tax assets: Federal NOL carryforward benefit $ 4,759 $ 4,119 NOL write-off for Sec 382 Limit (3,258 ) (3,258 ) Capitalized cost temporary item 3,929 4,239 State NOL carryforward benefit 3,341 3,025 Allowance for loan loss 2,718 2,048 Lease liabilities 882 - Non-accrual interest 335 170 Merger and acquisition 220 357 Accrued expenses 114 178 Unrealized loss AFS securities 140 288 Share based compensation 13 109 Federal AMT benefit - 707 Other - 20 Gross deferred tax assets $ 13,193 $ 12,002 Deferred tax liabilities: UTP (NOLs used) (1,132 ) (1,132 ) Right-of-Use assets (849 ) - Goodwill and intangible (40 ) (16 ) Depreciation of premises and equipment (34 ) (3 ) Other (5 ) - Gross deferred tax liabilities (2,060 ) (1,151 ) Net deferred tax asset 11,133 10,851 As of December 31, 2019, $22.7 $15.5 §382 $22.7 $20.2 2030 2033 $2.5 not Patriot has approximately $56.4 December 31, 2019, may 50% 2030 2039. Valuation Allowance against net Deferred Tax Assets At December 31, 2019 2018, no no not may Unrecognized tax benefits Patriot recognizes a benefit from its tax positions only if it is more likely than not 50% As of December 31, 2019 2018, $1.2 $1.1 no A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: (In thousands) For the Year Ended December 31, 2019 2018 Balance, beginning of year $ 1,132 $ - Increases due to tax positions related to a prior year 88 1,132 Balance, end of year $ 1,220 $ 1,132 The Company’s policy is to recognize interest and penalties related to income tax matters in income tax expense. At December 31, 2019, $88,000, no Patriot’s returns for tax years 2016 2019 |
Note 15 - Share-based Compensat
Note 15 - Share-based Compensation | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | Note 15. Share-based Compensation The Company maintains the Patriot National Bancorp, Inc. 2012 2013, December 31, 2019, no The Plan provides for the issuance of up to 3,000,000 December 31, 2019, 2,860,438 may four five The following is a summary of the status of the Company’s restricted share awards as of and for each of the years in the three December 31, 2019. Number Weighted Average Unvested at December 31, 2016 35,264 $ 12.84 Granted 5,084 $ 15.05 Vested (7,878 ) $ 14.31 Forfeited (6,600 ) $ 15.50 Unvested at December 31, 2017 25,870 $ 12.15 Granted 18,323 $ 18.07 Vested (10,999 ) $ 16.21 Forfeited (1,404 ) $ 14.44 Unvested at December 31, 2018 31,790 $ 14.06 Granted 9,675 $ 15.52 Vested (19,995 ) $ 15.99 Unvested at December 31, 2019 21,470 $ 12.91 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 years ended December 31, 2019, 2018 2017, $214,000, $220,000, $146,000, For the years ended December 31, 2019, 2018 2017, $117,000, $135,000, $68,000, The share-based compensation expense attributable to Patriot’s external Directors for the years ended December 31, 2019, 2018, 2017 $97,000, $85,000, $78,000, $547,000, $370,000, $318,000, Unrecognized compensation expense attributable to the unvested restricted shares outstanding as of December 31, 2019 $306,000, 2.11 RSA Grant - Non-executive Employees On January 4, 2016, 100 eighty-seven December 31, 2015. 8,700 $15.50 2,700 6,000 January 2019 |
Note 16 - Shareholders' Equity
Note 16 - Shareholders' Equity | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | Note 16. Shareholders’ Equity Common Stock On December 16, 2009, October 15, 2010, 3.36 $15.00 $50.4 87.6% Additionally, the Company reduced the par value of its common stock from $2 $0.01 100 Stock Repurchase Program On July 26, 2016, may 500,000 July 31, 2017, During the year ended December 31, 2017, 72,471 $14.04 August 2017, one 100 $17.10 No 2018 2019. Dividends On July 17, 2017, December 31, 2019, 2018 2017, $.01 $155,000, $154,000 $77,000, 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 is a summary of the computation of basic and diluted earnings per share for each of the years in the three December 31, 2019. (Net income in thousands) Year ended December 31, 2019 2018 2017 Basic (loss) earnings per share: Net (loss) income attributable to Common shareholders $ (2,817 ) $ 3,196 4,147 Divided by: Weighted average shares outstanding 3,921,783 3,904,052 3,894,222 Basic (loss) earnings per common share $ (0.72 ) $ 0.82 $ 1.06 Diluted (loss) earnings per share: Net (loss) income attributable to Common shareholders (2,817 ) 3,196 4,147 Weighted average shares outstanding 3,921,783 3,904,052 3,894,222 Effect of potentially dilutive restricted common shares - (1) 11,573 2,963 Divided by: Weighted average diluted shares outstanding 3,921,783 3,915,625 3,897,185 Diluted (loss) earnings per common share $ (0.72 ) $ 0.82 $ 1.06 ( 1 The weighted average diluted shares outstanding does not 3,555 December 31, 2019. |
Note 17 - 401(k) Savings Plan
Note 17 - 401(k) Savings Plan | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Retirement Benefits [Text Block] | Note 17. 401 Patriot offers employees participation in the Patriot Bank, N.A. 401 "401 401 401 one 21 401 may 50% first 6% 401 6 500 December 31, 2019, 2018, 2017, 401 $251,000, $204,000, $173,000, |
Note 18 - Financial Instruments
Note 18 - Financial Instruments with Off-balance Sheet Risk | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Concentration Risk Disclosure [Text Block] | Note 18. Financial Instruments with Off-Balance-Sheet Risk In the normal course of business, the Bank 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, which 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 amounts of commitments to extend credit and standby letters of credit represent 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 activities, 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. At December 31, 2019 2018, As of December 31, (In thousands) 2019 2018 Commitments to extend credit: Unused lines of credit $ 71,101 $ 77,120 Undisbursed construction loans 25,367 20,679 Home equity lines of credit 20,032 19,330 Future loan commitments 27,822 61,438 Financial standby letters of credit 743 1,160 $ 145,065 $ 179,727 Commitments to extend credit are agreements to lend to a customer as long as there is no may not may $8,000 $8,000 December 31, 2019 2018, Standby letters of credit are written commitments issued by the Bank to guarantee the performance of a customer to a third not |
Note 19 - Regulatory and Operat
Note 19 - Regulatory and Operational Matters | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | Note 19. Regulatory and Operational Matters In November 2018, three one The Agreement states the Board and Bank would develop, implement and revise written documents and policies related to executive compensation, conflict of interest, internal audit, liquidity and asset/liability management, commercial loan administration, leveraged lending, practices relating to the allowance for loan and lease losses, and assumptions used in the Bank’s interest rate risk model. Under the Agreement the Bank agreed to provide a revised written 3 December 31, 2018. To date, the Bank has addressed each of the items identified in the Agreement and is currently working collaboratively with the OCC to bring all matters to full resolution. Further details pertaining to the Agreement were provided in Part II Item 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 In September 2019, March 31, 2020 may 1 9%, $10 Capital adequacy is one 10%, 1 8.0%, CET1 6.5%, 1 9.0%. 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 December 31, 2019 2018 (In thousands) Patriot National Bancorp, Inc. Patriot Bank, N.A. December 31, 2019 December 31, 2018 December 31, 2019 December 31, 2018 Amount Ratio Amount Ratio Amount Ratio Amount Ratio Total Capital (to risk weighted assets): Actual $ 90,083 10.510 $ 90,722 10.452 $ 100,953 11.826 $ 99,341 11.500 To be Well Capitalized (1) - - - - 85,362 10.000 86,384 10.000 For capital adequacy with Capital Buffer (2) - - - - 89,630 10.500 85,304 9.875 For capital adequacy 68,573 8.000 69,441 8.000 68,290 8.000 69,107 8.000 Tier 1 Capital (to risk weighted assets): Actual 69,957 8.161 73,101 8.422 90,827 10.640 91,720 10.618 To be Well Capitalized (1) - - - - 68,290 8.000 69,107 8.000 For capital adequacy with Capital Buffer (2) - - - - 72,558 8.500 68,027 7.875 For capital adequacy 51,430 6.000 52,081 6.000 51,217 6.000 51,830 6.000 Common Equity Tier 1 Capital Actual 61,957 7.228 65,101 7.500 90,827 10.640 91,720 10.618 To be Well Capitalized (1) - - - - 55,485 6.500 56,149 6.500 For capital adequacy with Capital Buffer (2) - - - - 59,753 7.000 55,069 6.375 For capital adequacy 38,572 4.500 39,061 4.500 38,413 4.500 38,873 4.500 Tier 1 Leverage Capital (to average assets): Actual 69,957 7.148 73,101 7.842 90,827 9.279 91,720 9.838 To be Well Capitalized (1) - - - - 48,944 5.000 46,617 5.000 For capital adequacy 39,148 4.000 37,288 4.000 39,155 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 was 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. |
Note 20 - Related Party Transac
Note 20 - Related Party Transactions | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | Note 20. Related Party Transactions In the normal course of business, the Company grants loans to executive officers, directors and members of their immediate families, as defined, and to entities in which these individuals have more than a 10% third $100,000 $150,000 December 31, 2019 2018, As of December 31, 2019 2018, $469,000 $1.1 For the years ended December 31, 2019 2018, $39,000 $0, |
Note 21 - Fair Value and Intere
Note 21 - Fair Value and Interest Rate Risk | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 21. 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 and accrued interest receivable and payable 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, which is utilized by the Bank to satisfy its Community Reinvestment Act (“CRA”) lending requirements. As this fund operates as a private fund, shares in the fund are not may 60 December 31, 2019 2018. October 6, 2019, Federal Reserve Bank Stock and Federal Home Loan Bank Stock Shares in the FRB and 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 SBA Loans Held for Sale The fair value of SBA loans held for sale is estimated by using a market approach that includes prices for loans sold awaiting settlement and other observable inputs. The Company has determined that the inputs used to value the SBA loans held for sale fall within Level 2 SBA Servicing Asset Servicing assets do not 3 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, Junior Subordinated Debt and Note Payable Patriot does not Patriot does not June 2018 Patriot does not The Company considers its own credit worthiness in determining the fair value of its Senior Notes, Subordinated Notes, Notes Payable and Junior Subordinated Debt. 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 December 31, 2019 2018: (In thousands) December 31, 2019 December 31, 2018 Fair Value Carrying Estimated Carrying Estimated Financial Assets: Cash and noninterest bearing balances due from banks Level 1 $ 2,693 $ 2,693 $ 7,381 $ 7,381 Interest-bearing deposits due from banks Level 1 36,711 36,711 59,056 59,056 Available-for-sale securities Level 2 48,317 48,317 39,496 39,496 Other investments Level 2 4,450 4,450 4,963 4,963 Federal Reserve Bank stock Level 2 2,897 2,897 2,866 2,866 Federal Home Loan Bank stock Level 2 4,477 4,477 4,928 4,928 Loans receivable, net Level 3 802,049 793,559 772,767 762,581 SBA loans held for sale Level 2 15,282 16,733 - - SBA servicing assets Level 3 201 280 37 37 Accrued interest receivable Level 2 3,603 3,603 3,766 3,766 Interest rate swap receivable Level 2 694 694 286 286 Financial assets, total $ 921,374 $ 914,414 $ 895,546 $ 885,360 Financial Liabilities: Demand deposits Level 2 $ 88,135 $ 88,135 $ 84,471 $ 84,471 Savings deposits Level 2 64,020 64,020 81,912 81,912 Money market deposits Level 2 99,115 99,115 85,197 85,197 NOW accounts Level 2 26,864 26,864 26,100 26,100 Time deposits Level 2 261,492 261,914 282,001 280,538 Brokered deposits Level 1 229,909 230,073 183,600 183,120 FHLB borrowings Level 2 100,000 103,962 100,000 101,369 Senior notes Level 2 11,853 11,722 11,778 11,293 Subordinated debt Level 2 9,752 9,747 9,723 9,348 Junior subordinated debt owed to unconsolidated trust Level 2 8,102 8,102 8,094 8,094 Note payable Level 3 1,193 1,129 1,388 1,239 Accrued interest payable Level 2 1,971 1,971 1,605 1,605 Contingent consideration liability Level 3 86 86 707 707 Interest rate swap liability Level 2 694 694 286 286 Financial liabilities, total $ 903,186 $ 907,534 $ 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 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 December 31, 2019 2018. (In thousands) Quoted Prices in Significant Observable Inputs Significant Unobservable Inputs Total December 31, 2019: U. S. Government agency mortgage-backed securities $ - $ 16,685 $ - $ 16,685 Corporate bonds - 17,313 - 17,313 Subordinated notes - 9,204 - 9,204 SBA loan pools - 5,115 - 5,115 Available-for-sale securities $ - $ 48,317 $ - $ 48,317 Impaired PCI Loans, net $ - $ - $ 176 $ 176 Contingent consideration liability $ - $ - $ 86 $ 86 Interest rate swap receivable $ - $ 694 $ - $ 694 Interest rate swap liability $ - $ 694 $ - $ 694 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 rate swap receivable $ - $ 286 $ - $ 286 Interest rate 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 year ended December 31, 2019 2018, no 1, 2 3. The table below presents the valuation methodology and unobservable inputs for level 3 December 31, 2019 2018: (In thousands) Fair Value Valuation Methodology Unobservable Inputs Range of Inputs December 31, 2019: Impaired loans, net $ 18,132 Real Estate Appraisals Discount for appraisal type 8% - 20% Other Real Estate Owned 2,400 Real Estate Appraisals Discount for appraisal type 12% SBA servicing assets 280 Discounted Cash Flows Market discount rates 14.73% - 14.90% 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% SBA servicing assets 37 Discounted Cash Flows Market discount rates 14.73% - 14.90% Patriot discloses fair value information about financial instruments, whether or not not The estimated fair value amounts have been measured as of December 31, 2019 2018 not may The information presented should not may not |
Note 22 - Parent Company-only F
Note 22 - Parent Company-only Financial Statements | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Condensed Financial Statements [Text Block] | Note 22. Parent Company-only Financial Statements The following represent the condensed stand-alone financial statements of the Company, which is the sole owner and parent company of the Bank, its operating bank subsidiary. CONDENSED BALANCE SHEETS December 31, 2019 2018 (In thousands) As of December 31, 2019 2018 ASSETS Cash and due from banks $ 667 $ 2,443 Investment in subsidiary 96,235 96,883 Other assets 564 59 Total assets 97,466 99,385 LIABILITIES AND SHAREHOLDERS' EQUITY Borrowings 29,707 29,595 Accrued expenses and other liabilities 765 450 Shareholders' equity 66,994 69,340 Total liabilities and shareholders' equity $ 97,466 $ 99,385 CONDENSED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME Years Ended December 31, 2019, 2018 2017 (In thousands) Year ended December 31, 2019 2018 2017 Expenses: Interest on subordinated debt $ 476 $ 454 $ 371 Interest on senior debt 1,571 1,242 915 Total interest expense 2,047 1,696 1,286 Other expenses 214 313 208 Loss before benefit for income taxes 2,261 2,009 1,494 Benefit for income taxes (504 ) - - Loss before equity in undistributed net income of subsidiary 1,757 2,009 1,494 Equity in undistributed net (loss) income of subsidiary (1,060 ) 5,205 5,641 Net (loss) income (2,817 ) 3,196 4,147 Equity in subsidiary other comprehensive income (loss), net of subsidiary 423 (671 ) (35 ) Total comprehensive (loss) income $ (2,394 ) $ 2,525 $ 4,112 (In thousands) Year ended December 31, 2019 2018 2017 Cash Flows from Operating Activities: Net (loss) income $ (2,817 ) $ 3,196 $ 4,147 Adjustments to reconcile net income to net cash provided by (used in) operating activities: Equity in undistributed loss (income) of subsidiary 1,060 (5,205 ) (5,641 ) Share-based compensation 214 220 146 Amortization of debt issuance costs 112 97 82 Change in assets and liabilities: Increase in other assets (505 ) - (13 ) Increase in accrued expenses and other liabilities 315 61 32 Net cash used in operating activities (1,621 ) (1,631 ) (1,247 ) Cash Flows from Investing Activities: Net increase in investment in Patriot Bank N.A. - (7,800 ) - Net cash used in investing activities - (7,800 ) - Cash Flows from Financing Activities: Proceeds from issuance of senior notes, net - 9,709 - Purchase of treasury stock - - (2 ) Dividends paid on common stock (155 ) (154 ) (77 ) Net cash (used in) provided by financing activities (155 ) 9,555 (79 ) Net (decrease) increase in cash and cash equivalents (1,776 ) 124 (1,326 ) Cash and cash equivalents at beginning of year 2,443 2,319 3,645 Cash and cash equivalents at end of year $ 667 $ 2,443 $ 2,319 Supplemental Disclosures of Cash Flow Information: Cash paid for interest $ 1,593 $ 1,600 $ 1,203 Cash paid for income taxes $ - $ - $ - |
Note 23 - Subsequent Event
Note 23 - Subsequent Event | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | Note 23. Subsequent Event Pandemic events could have a material adverse effect on our operations and our financial condition. The outbreak of disease on a national or global level, such as the spread of the COVID- 19 may, may The Company evaluated its December 31, 2019 19 March 2020. On March 27, 2020, not |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2019 | |
Accounting Policies [Abstract] | |
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block] | Allowance for loan and lease losses The allowance for loan and lease losses (“ALLL”) is regularly evaluated by management, based upon the nature and volume of the loan portfolio, periodic review of loan collectability using historical experience rates, adverse situations potentially affecting individual borrowers’ ability to repay, the estimated value of any underlying collateral, and prevailing economic conditions on overall segments of the loan portfolio. This evaluation is inherently subjective as it requires estimates that are susceptible to significant revision as more information becomes available. The non-specific ALLL by loan segment is calculated using a systematic methodology, consisting of a quantitative and qualitative analytical component, applied on a quarterly basis to homogeneous loans. The model is comprised of six Management monitors a distinct set of risk characteristics for each loan segment. Additionally, management assesses and monitors risk and performance on a disaggregated basis, including an internal risk rating system for loans included in the Commercial loan segment and analyzing the type of collateral, lien position, and loan-to-value (i.e., LTV) ratio for loans included in the Consumer loan segment. Management’s ALLL process first not Another key assumption is the look-back period (“LBP”), which represents the historical data period utilized to calculate loss rates. A three After considering the historic loss calculations, management applies additional qualitative adjustments to the ALLL to reflect the inherent risk of loss that exists in the loan portfolio at the balance sheet date. Qualitative adjustments are made based upon changes in economic conditions, loan portfolio and asset quality data, and credit process changes, such as credit policies or underwriting standards. Evaluation of the ALLL requires considerable judgment, in order to adequately estimate and provide for the risk of loss inherent in the loan portfolio segments. Qualitative adjustments are aggregated into the nine ● Changes in lending policies and procedures, including underwriting standards, collection, charge-off, and recovery practices not ● Changes in national, regional, and local economic and business conditions and developments that affect the collectability of the loan portfolio, including the condition of various market segments; ● Changes in the nature and volume of the loan portfolio and terms of loans; ● Changes in the experience, ability and depth of lending management and staff; ● Changes in the volume and loss severity of past due loans, the volume of non-accrual loans, and the volume and loss severity of adversely classified or graded loans; ● Changes in the quality of the loan review system; ● Changes in the value of the underlying collateral for collateral-dependent loans; ● The existence and effect of any concentrations of credit and changes in the level of such concentrations; ● The effect of other external factors such as competition and legal and regulatory requirements on the level of estimated credit losses in our current loan portfolio; and ● An additional risk factor for special mention loans and substandard loans, which is designed to approximate the additional risk of these assets and is based on industry data. Patriot provides for loan losses by consistently applying the documented ALLL methodology. Loan losses are charged to the allowance as incurred and recoveries are credited to the ALLL. Additions to the ALLL are charged against income, based on various factors which, in management’s judgment, deserve current recognition in estimating probable losses. Loan losses are charged-off in the period the loans, or portions thereof, are deemed uncollectible. Generally, Patriot will record a loan charge-off (including a partial charge-off) to reduce a loan to the estimated fair value of the underlying collateral, less costs to sell, for collateral dependent loans. Subsequent recoveries, if any, are credited to the ALLL. Patriot regularly reviews the loan portfolio and makes adjustments for loan losses, in order to maintain the allowance for loan and lease losses in accordance with US GAAP. The allowance for loan and lease losses consists primarily of the following three ( 1 Allowances are established for impaired loans (generally defined by Patriot as non-accrual loans, troubled debt restructured loans, and loans that were previously classified as troubled debt restructurings but have been upgraded). The amount of impairment provided as an allowance is represented by the deficiency, if any, between the present value of expected future cash flows discounted at the loan’s original effective interest rate or the underlying collateral value, less estimated costs to sell, if the loan is collateral dependent, and the carrying value of the loan. Impaired loans that have no not ( 2 General allowances are established for loan losses on a portfolio basis for loans that do not three may may In addition, a risk rating system is utilized to evaluate the general component of the ALLL. Under this system, management assigns risk ratings between one six ( 3 An unallocated component of the ALLL is considered when necessary to cover uncertainties that could affect management's estimate of probable losses. The unallocated component of the ALLL reflects the margin of imprecision inherent in the underlying assumptions used in the methodologies applied to estimating specific and general losses in the loan portfolio. In underwriting a loan secured by real property, a property appraisal is required to be performed by an independent licensed appraiser that has been approved by Patriot’s Board of Directors. Appraisals are subject to review by independent third may In the third 2018, The Bank further segmented its loan pools by Pass, Special Mention, and Substandard risk ratings and assigned additional risk premiums to each group. The qualitative and economic factors for all of the pools and subsegments were also evaluated, with Pass loans receiving adjustments to reflect their credit profile relative to the non-impaired criticized assets. These adjustments generally flow through the qualitative factors addressing severity of past due loans and other similar conditions and the nature and volume of the portfolio and terms of the loans. The Bank’s leveraged lending portfolio was evaluated relative to the rest of the Commercial & Industrial (“C&I”) pool, and an additional risk premium was assigned to those loans in aggregate, and is reflected in the commercial and industrial category in the ALLL calculation. These loans were isolated due their risk parameters and profile, including higher leverage than the rest of the Bank’s C&I portfolio. The Bank’s SBA loan portfolio consists of the unguaranteed portion of certain C&I and Owner-Occupied CRE loans. An additional risk premium was assigned to those loans due to their risk parameters and profile, including higher historical loss rates (based on historical SBA data) than the rest of the C&I and Owner-Occupied CRE portfolio. The change in methodology resulted in better alignment of the credit characteristics of the various risk grades and loan types with the calculated allowance. The provision of $1.3 2018 Acquired loans are marked to fair value on the date of acquisition and are evaluated on a quarterly basis to ensure the necessary purchase accounting updates are made in parallel with the allowance for loan loss calculation. Acquired loans that have been renewed since acquisition are included in the allowance for loan loss calculation since these loans have been underwritten to the Bank’s guidelines. Acquired loans that have not While Patriot uses the best information available to evaluate the ALLL, future adjustments to the ALLL may may |
Reclassification, Comparability Adjustment [Policy Text Block] | Reclassifications: Certain amounts appearing in the financial statements and notes thereto for prior periods have been reclassified to conform with the current presentation. The reclassifications had no |
Basis of Accounting, Policy [Policy Text Block] | Principles of consolidation and basis of financial statement presentation The Consolidated Financial Statements include the accounts of Patriot, and the Bank's wholly owned subsidiaries, PinPat Acquisition Corporation and ABC HOLD Co, LLC, (inactive) and have been prepared in conformity with US GAAP. All significant intercompany balances and transactions have been eliminated. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and cash equivalents Patriot considers all short-term, highly liquid investments purchased with an original maturity of three Patriot maintains amounts due from banks which, at times, may not |
Federal Reserve Bank and Federal Home Loan Bank Stock, Policy [Policy Text Block] | Federal Reserve Bank and Federal Home Loan Bank stock The Bank is required to maintain an investment in capital stock of the Federal Home Loan Bank of Boston (“FHLB-B”), as collateral, in an amount equal to a percentage of its outstanding mortgage loans and loans secured by residential properties, including mortgage-backed securities. Additionally, the Bank is required to maintain an investment in the capital stock of the Federal Reserve Bank (“FRB”), as collateral, in an amount equal to one six one Shares in the FHLB-B and FRB are purchased and redeemed based upon their $100 Included in the Bank’s investment portfolio are shares in the FHLB-B and FRB of $7.4 $7.8 December 31, 2019 2018, December 31, 2019 2018 no |
Investment, Policy [Policy Text Block] | Investment Securities Management determines the appropriate classification of securities at the date individual investment securities are acquired, and the appropriateness of such classification is reassessed at each balance sheet date. Debt securities, if any, that management has the positive intent and ability to hold to maturity are classified as “held to maturity” and are recorded at amortized cost. “Trading” securities, if any, are carried at fair value with unrealized gains and losses recognized in earnings. Securities classified as “available-for-sale” are recorded at fair value, with unrealized gains and losses excluded from earnings and reported in other comprehensive income (loss), net of taxes. Purchase premiums and discounts are recognized in interest income using the interest method of accounting, in order to achieve a constant effective yield over the contractual term of the securities. Patriot conducts a quarterly review and evaluation of the securities portfolio to determine if a decline in the fair value of any security below its cost basis is an other-than-temporary impairment (“OTTI”). Our evaluation of OTTI considers the duration and severity of the impairment, our intent to hold the securities, whether or not Security transactions are recorded on the trade date. Realized gains and losses on the sale of securities are determined using the specific identification method, recorded on the trade date, and reported in non-interest income for the period. At December 31, 2019 2018, $4.5 December 31, 2019 2018, |
Policy Loans Receivable, Policy [Policy Text Block] | Loans receivable Loans that Patriot has the intent and ability to hold until maturity or for the foreseeable future generally are reported at their outstanding unpaid principal balances adjusted for unearned income, an allowance for loan and lease losses, if any, and any unamortized discount, premium and deferred fees. Interest income is accrued based on unpaid principal balances. Loan application fees are reported as non-interest income, while other certain direct origination costs, or for purchased loans, any discounts or premiums are deferred and amortized to interest income as a level yield adjustment over the respective term of the loan. Loans are placed on non-accrual status or charged off when collection of principal or interest is considered doubtful. The accrual of interest on loans is discontinued no 90 no 180 Accrued uncollected interest income on loans that are placed on non-accrual status or have been charged off is reversed against interest income. Interest income on such non-performing loans is accounted for on the cash-basis of accounting until qualifying for return to accrual status. Any cash received on non-accrual or charged off loans is first Patriot’s real estate loans are collateralized by real estate located principally in Fairfield and New Haven Counties in Connecticut and Westchester County, New York. Accordingly, the ultimate collectability of a substantial portion of Patriot’s loan portfolio is susceptible to regional real estate market conditions. A loan is considered impaired when, based on current information and events, it is probable that Patriot will be unable to collect the scheduled payments of principal or interest when due, according to the loan’s contractual terms. Factors considered by management in determining impairment include payment status and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and shortfalls generally are not Impaired loans also include loans modified in troubled debt restructurings (“TDR”), where concessions have been granted to borrowers experiencing financial difficulties. These concessions could include a reduction in the interest rate on the loan, payment or maturity date extensions, forgiveness of principal, forbearance or other actions intended to maximize collection. TDRs are generally placed on non-accrual status until the loan qualifies for return to accrual status. Loans qualify for return to accrual status once they have demonstrated compliance with the restructured terms of the loan agreement and have performed for a minimum of six Lower balance lending arrangements, such as consumer installment loans, are evaluated for impairment by pooling the loans into homogenous groupings. Accordingly, Patriot does not |
Acquired Loans, Policy [Policy Text Block] | Acquired Loans Acquired loans are initially recorded at their acquisition date fair values. The carryover of allowance for loan and lease losses is prohibited as any credit losses in the acquired loans are included in the determination of the fair value of the loans at the acquisition date. Fair values for acquired loans are based on a discounted cash flow methodology that involves assumptions and judgments as to credit risk, prepayment risk, liquidity risk, default rates, loss severity, payment speeds, collateral values and discount rate. |
Deteriorated Loans Transferred in, Policy [Policy Text Block] | Acquired Impaired Loans- Purchase Credit Impaired “PCI” Loans Acquired loans that exhibit evidence of deterioration in credit quality since origination and for which it is probable, at acquisition, that the Company will be unable to collect all contractually required payments are accounted for as PCI loans under Accounting Standards Codification (“ASC”) 310 30. not PCI loans are initially measured at fair value, which includes estimated future credit losses expected to be incurred over the life of the loan. Accordingly, the associated allowance for credit losses related to these loans is not Acquired loans that met the criteria for non-accrual of interest prior to acquisition were not may |
Acquired Non-impaired Loans [Policy Text Block] | Acquired Non-impaired Loans Acquired loans that do not 310 30 may 310 20. Subsequent to the purchase date, the methods used to estimate the allowance for loan and lease losses for the acquired non-impaired loans are consistent with the policy for allowance for loan and lease losses described below. |
Transfers and Servicing of Financial Assets, Transfers of Financial Assets, Policy [Policy Text Block] | Transfers of financial assets Transfers of financial assets are accounted for as sales, when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when ( 1 2 no 3 not |
Financing Receivable, Held-for-sale [Policy Text Block] | Loans Held for Sale Loans held for sale represent the guaranteed portion of Small Business Administration (“SBA”) loans and are reflected at the lower of aggregate cost or market value. Patriot originates loans to customers under a SBA program that historically has provided for SBA guarantees of 75 third |
Transfers and Servicing of Financial Assets, Servicing of Financial Assets, Policy [Policy Text Block] | Servicing Assets Servicing assets represent the estimated fair value of retained servicing rights, net of servicing costs, at the time loans are sold. Servicing assets are amortized in proportion to, and over the period of, estimated net servicing revenues. Impairment is evaluated based on stratifying the underlying financial assets by date of origination and term. Fair value is determined using prices for similar assets with similar characteristics, when available, or based upon discounted cash flows using market-based assumptions. Any impairment, if temporary, would be reported as a valuation allowance. |
Other Real Estate Owned, Policy [Policy Text Block] | Other real estate owned Assets acquired through, or in lieu of, loan foreclosure are held for sale and are initially recorded at fair value less cost to sell at the date of foreclosure, establishing a new cost basis. In addition, when Patriot acquires other real estate owned (“OREO”), it obtains a current appraisal to substantiate the net carrying value of the asset. Subsequent to foreclosure, valuations are periodically performed by management and the assets are carried at the lower of carrying amount or fair value less cost to sell. Revenue and expenses from operations and changes in the valuation allowance are included in the results of operations. Costs relating to the development and improvement of the property are capitalized, subject to the limit of fair value of the collateral. Gains or losses are included in non-interest expenses upon disposal. Write-downs of foreclosed properties that are required upon transfer to OREO are charged to the ALLL. Thereafter, an allowance for OREO losses is established for any further declines in the property’s value. These losses are included in non-interest expenses in the Consolidated Statements of Income. |
Property, Plant and Equipment, Policy [Policy Text Block] | Premises and equipment Premises and equipment are stated at cost, net of accumulated depreciation and amortization. Leasehold improvements are capitalized and amortized over the shorter of the terms of the related leases or the estimated economic lives of the improvements. Depreciation is charged to operations for buildings, furniture, equipment and software using the straight-line method over the estimated useful lives of the related assets which range from three forty |
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | Impairment of long-lived assets Long-lived assets, which are held and used, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not |
Goodwill and Intangible Assets, Policy [Policy Text Block] | Intangible Assets Intangible assets include core deposit intangibles (“CDI”) and goodwill arising from acquisitions. The initial and ongoing carrying value of intangible assets is based upon modeling techniques that require management to make estimates regarding the amount and timing of expected future cash flows. It also requires use of a discount rate that reflects the current return requirements of the market in relation to present risk-free interest rates, required equity market premiums, peer volatility indicators, and company-specific risk indicators. CDI is amortized on straight-line basis over a 10 may not The Company evaluates goodwill for impairment on an annual basis, or more often if events or circumstances indicate there may October |
Commitments and Contingencies, Policy [Policy Text Block] | Contingent Consideration Contingent consideration represents an estimate of the additional amount of purchase price consideration and is measured based on the probability that certain loans are restructured in accordance with the related acquisition agreement. Resolution of the contingent consideration will result in a cash payment and will be reflected in the financial statements as a measurement period adjustment as they are finalized. Changes will be recognized as an increase or decrease to goodwill, the valuation of the related loans and the contingent consideration/purchase price. 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. |
Derivatives, Policy [Policy Text Block] | Derivatives Patriot enters into interest rate swap agreements (“swaps”), to provide a facility to mitigate for the borrower the fluctuations in the variable rate on the respective loan. The customer swaps are simultaneously hedge by offsetting derivatives that Patriot entered into with an outside third not The credit risk associated with derivatives executed with customers is similar as that involved in extending loans and is subject to normal credit policies. Collateral is obtained based on management’s assessment of the customer. The positions of customer derivatives are recorded at fair value and changes in value are included in noninterest income on the consolidated statement of income. |
Income Tax, Policy [Policy Text Block] | Income taxes Patriot recognizes income taxes under the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the estimated tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, and loss carry forwards. Deferred tax assets (“DTA”s) and liabilities (“DTL”s) are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on DTAs and DTLs of a change in tax rates is recognized in income in the period that includes the enactment date. On December 22, 2017, 21% 35%, December 2017, $2.8 December 31, 2017. In addition, for the year ended December 31, 2017, $2.8 382 In certain circumstances DTAs are subject to reduction by a valuation allowance. A valuation allowance is subject to ongoing adjustment based on changes in circumstances that affect management’s judgment about the realizability of the deferred tax asset. Adjustments to increase or decrease the valuation allowance are charged or credited to the deferred tax component of the income tax provision or benefit. Patriot evaluates its ability to realize its net deferred tax assets on a quarterly basis. In doing so, management considers all available evidence, both positive and negative, to determine whether it is more likely than not 2019 2018 not 2030. no December 31, 2019 2018. Management will continue to evaluate its ability to realize the net deferred tax asset. Future evidence may not not may Patriot had a net deferred tax asset of $11.1 December 31, 2019 $10.9 December 31, 2018. |
Unrecognized Tax Benefits [Policy Text Block] | Unrecognized tax benefits Patriot recognizes a benefit from its tax positions only if it is more likely than not 50% Patriot’s returns for tax years 2016 2019 As of December 31, 2019 2018, $1.2 $1.1 no The Company’s policy is to recognize interest and penalties related to income tax matters in income tax expense. |
Earnings Per Share, Policy [Policy Text Block] | Earnings per Share Basic earnings per share represents earnings accruing to common shareholders and 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 securities had been converted to common stock, as well as any adjustments to earnings resulting from the assumed conversion, unless such effect is anti-dilutive. Potential common shares that may |
Share-based Payment Arrangement [Policy Text Block] | Share-based compensation plan Incentive and compensatory share-based compensation granted to employees is accounted for at the grant date fair value of the award and recognized in the results of operations as compensation expense with an off-setting entry to equity on a straight-line basis over the requisite service period, which is the vesting period. Non-employee members of the Board of Directors are treated as employees for any share-based compensation granted in exchange for their service on the Board of Directors. Patriot does not The Compensation Committee of the Board of Directors establishes terms and conditions applicable to the vesting of restricted stock awards and stock options. Restricted stock grants generally vest in quarterly or annual installments over a three, four five |
Comprehensive Income, Policy [Policy Text Block] | Comprehensive income Accounting principles generally require that recognized revenues, expenses, gains and losses be included in net income. Although certain changes in assets and liabilities, such as unrealized gains and losses on available-for-sale securities, are reported as a separate component of shareholders' equity in the Consolidated Balance Sheets, such items, along with net income, are components of comprehensive income. |
Segment Reporting, Policy [Policy Text Block] | Segment reporting Patriot’s only business segment is Community Banking. During the years ended December 31, 2019, 2018 2017, |
Reserve for Unfunded Commitments, Policy [Policy Text Block] | Reserve for Unfunded Commitments The reserve for unfunded commitments provides for probable losses inherent with funding the unused portion of legal commitments to lend. The unfunded reserve calculation includes factors that are consistent with the ALLL methodology for our loan portfolio as well as a draw down factor applied to the various commitments. The reserve for unfunded commitments is included within other liabilities in the accompanying Consolidated Balance Sheets, and changes in the reserve are reported as a component of other expense in the accompanying Consolidated Statements of Income. See Note 18: |
Related Party Transactions, Policy [Policy Text Block] | Related Party Transactions Directors and officers of the Company and their affiliates have been customers of and have had transactions with the Company, and it is expected that such persons will continue to have such transactions in the future. Management believes that all deposit accounts, loans, services and commitments comprising such transactions were made in the ordinary course of business, on substantially the same terms, including interest rates and collateral, as those prevailing at the time for comparable transactions with other customers who are not not 20 |
Fair Value Measurement, Policy [Policy Text Block] | Fair value Patriot uses fair value measurements to record adjustments to the carrying amounts of certain assets and liabilities. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value is best determined based upon quoted market prices. However, in certain instances, there are no not may not Provided in these notes to the Consolidated Financial Statements is a detailed summary of Patriot’s application of fair value measurements and the effect on the assets and liabilities presented in the Consolidated Financial Statements. |
Advertising Cost [Policy Text Block] | Advertising Costs Patriot's policy is to expense advertising costs in the period in which they are incurred. |
Project Expenses, Policy [Policy Text Block] | Project expenses Project expenses represent non-recurring expenses, primarily legal and consulting not 2019, third November 2018, |
Revenue from Contract with Customer [Policy Text Block] | Revenue Recognition ASC 606, 606" The majority of our revenue-generating transactions are not 606, 606, ● Service charges on deposit accounts - these represent general service fees for monthly account maintenance and activity- or transaction based fees and consist of transaction-based revenue, time-based revenue (service period), item-based revenue or some other individual attribute-based revenue. Revenue is recognized when our performance obligation is completed which is generally monthly for account maintenance services or when a transaction has been completed (such as a wire transfer). Payment for such performance obligations are generally received at the time the performance obligations are satisfied. |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Adopted and Issued Accounting Standards 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 2016 12 not 12 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 not ASU 2017 12 "Derivatives and Hedging (Topic 815 Targeted Improvements to Accounting for Hedging Activities 2017 12 October 2018, 2018 16, 815 2018 16 2017 12. 2017 12 December 15, 2018, 2017 12 2018 16 not ASU 2017 04 In January 2017, 2017 04, Intangibles-Goodwill and Other (Topic 350 2 not not December 15, 2019 2017 04 June 30, 2019. Accounting Standards Issued But Not ASU 2016 13 In June 2016, 2016 13, not 2016 13 2016 13 December 15, 2019, December 15, 2018. November 2019, 2019 10, 326 December 31, 2022, 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 ASU 2018 15 In August 2018, No. 2018 15, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350 40 2018 15 2015 05, April 2015. 2018 15 December 15, 2019, 2018 15 not ASU 2019 12 ASU 2019 12, Income Taxes (Topic 740 740 2019 12 January 1, 2021, not |
Note 3 - Available-for-sale S_2
Note 3 - Available-for-sale Securities (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Debt Securities, Available-for-sale [Table Text Block] | (In thousands) Amortized Gross Gross Fair December 31, 2019: U. S. Government agency mortgage-backed securities $ 16,663 $ 90 $ (68 ) $ 16,685 Corporate bonds 18,018 133 (838 ) 17,313 Subordinated notes 9,022 182 - 9,204 SBA loan pools 5,157 - (42 ) 5,115 $ 48,860 $ 405 $ (948 ) $ 48,317 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 December 31, 2019: U. S. Government agency mortgage-backed securities $ 2,609 $ (20 ) $ 3,919 $ (48 ) $ 6,528 $ (68 ) Corporate bonds - - 13,162 (838 ) 13,162 (838 ) SBA loan pools 5,115 (42 ) - - 5,115 (42 ) $ 7,724 $ (62 ) $ 17,081 $ (886 ) $ 24,805 $ (948 ) 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 December 31, 2019: Corporate bonds $ 4,018 $ 14,000 $ - $ 18,018 $ 4,151 $ 13,162 $ - $ 17,313 Subordinated notes - 9,022 - 9,022 - 9,204 - 9,204 SBA loan pools - 5,157 - 5,157 - 5,115 - 5,115 Available-for-sale securities with stated maturity dates 4,018 28,179 - 32,197 4,151 27,481 - 31,632 U. S. Government agency mortgage-backed securities 3,805 2,047 10,811 16,663 3,810 2,016 10,859 16,685 $ 7,823 $ 30,226 $ 10,811 $ 48,860 $ 7,961 $ 29,497 $ 10,859 $ 48,317 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 stated 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 - Loan Receivable and _2
Note 4 - Loan Receivable and Allowance for Loan and Lease Losses (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | December 31, (In thousands) 2019 2018 Loan portfolio segment: Commercial Real Estate $ 314,414 $ 274,938 Residential Real Estate 175,489 157,300 Commercial and Industrial 173,875 191,852 Consumer and Other 85,934 94,569 Construction 48,388 46,040 Construction to Permanent - CRE 14,064 15,677 Loans receivable, gross 812,164 780,376 Allowance for loan and lease losses (10,115 ) (7,609 ) Loans receivable, net $ 802,049 $ 772,767 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Table Text Block] | (In thousands) For the Year Ended December 31, 2019 2018 Accretable discount, beginning of period $ (792 ) $ (1,316 ) Accretion 47 92 Other changes, net 698 432 Accretable discount, end of period $ (47 ) $ (792 ) |
Financing Receivable, Allowance for Credit Loss [Table Text Block] | (In thousands) Commercial Residential Commercial Consumer Construction Construction Unallocated Total As of and for the year ended Allowance for loan and lease losses: December 31, 2018 $ 1,866 $ 1,059 $ 3,558 $ 641 $ 350 $ 108 $ 27 $ 7,609 Charge-offs - (118 ) (2,418 ) (123 ) - - - (2,659 ) Recoveries 2 10 172 10 - - - 194 Provisions (credits) 1,921 87 3,028 (187 ) 127 22 (27 ) 4,971 December 31, 2019 $ 3,789 $ 1,038 $ 4,340 $ 341 $ 477 $ 130 $ - $ 10,115 As of and for the year ended Allowance for loan and lease losses: December 31, 2017 $ 2,212 $ 959 $ 2,023 $ 568 $ 481 $ 54 $ - $ 6,297 Charge-offs - (2 ) - (33 ) - - - (35 ) Recoveries 7 2 34 1 - - - 44 Provisions (credits) (353 ) 100 1,501 105 (131 ) 54 27 1,303 December 31, 2018 $ 1,866 $ 1,059 $ 3,558 $ 641 $ 350 $ 108 $ 27 $ 7,609 As of and for the year ended Allowance for loan and lease losses: December 31, 2016 $ 1,853 $ 534 $ 740 $ 641 $ 712 $ 69 $ 126 $ 4,675 Charge-offs - - (265 ) (39 ) - - - (304 ) Recoveries 10 - 2,769 4 - - - 2,783 Provisions (credits) 349 425 (1,221 ) (38 ) (231 ) (15 ) (126 ) (857 ) December 31, 2017 $ 2,212 $ 959 $ 2,023 $ 568 $ 481 $ 54 $ - $ 6,297 (In thousands) Commercial Residential Commercial Consumer Construction Construction Unallocated Total December 31, 2019 Allowance for loan and lease losses: Individually evaluated $ 1,496 $ - $ - $ - $ - $ - $ - $ 1,496 Collectively evaluated 2,293 1,038 4,340 341 477 130 - 8,619 Total allowance for loan and lease losses $ 3,789 $ 1,038 $ 4,340 $ 341 $ 477 $ 130 $ - $ 10,115 Loans receivable, gross: Individually evaluated $ 13,034 $ 3,621 $ 2,057 $ 916 $ - $ - $ - $ 19,628 PCI loans individually evaluated for impairment - - 176 - - - - 176 Collectively evaluated 301,380 171,868 171,642 85,018 48,388 14,064 - 792,360 Total loans receivable, gross $ 314,414 $ 175,489 $ 173,875 $ 85,934 $ 48,388 $ 14,064 $ - $ 812,164 (In thousands) Commercial Residential Commercial Consumer Construction Construction Unallocated Total December 31, 2018 Allowance for loan and lease losses: Individually evaluated $ - $ 216 $ 1,299 $ 30 $ - $ - $ - $ 1,545 Collectively evaluated 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 $ 4,606 $ 2,302 $ 4,646 $ 864 $ 8,800 $ - $ - $ 21,218 PCI loans individually evaluated for impairment - - 615 - - - - 615 Collectively evaluated 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 December 31, 2019: 30 - 59 Days 60 - 89 Days 90 Days Total Current Total Non-accruing Loans Loan portfolio segment: Commercial Real Estate: Pass $ - $ - $ - $ - $ 295,982 $ 295,982 $ - $ 295,982 Special mention - - - - 385 385 - 385 Substandard - - - - 6,086 6,086 11,961 18,047 - - - - 302,453 302,453 11,961 314,414 Residential Real Estate: Pass 658 - - 658 169,903 170,561 - 170,561 Special mention - - - - - - - - Substandard - - - - 1,700 1,700 3,228 4,928 658 - - 658 171,603 172,261 3,228 175,489 Commercial and Industrial: Pass 327 350 - 677 162,711 163,388 - 163,388 Special mention 279 - - 279 172 451 - 451 Substandard - - - - 7,942 7,942 2,094 10,036 606 - - 956 170,825 171,781 2,094 173,875 Consumer and Other: Pass 2,805 3 19 2,827 82,341 85,168 - 85,168 Substandard - - - - - - 766 766 2,805 3 19 2,827 82,341 85,168 766 85,934 Construction: Pass - - - - 48,388 48,388 - 48,388 - - - - 48,388 48,388 - 48,388 Construction to Permanent - CRE: Pass - - - - 14,064 14,064 - 14,064 - - - - 14,064 14,064 - 14,064 Total $ 4,069 $ 353 $ 19 $ 4,441 $ 789,674 $ 794,115 $ 18,049 $ 812,164 Loans receivable, gross: Pass $ 3,790 $ 353 $ 19 $ 4,162 $ 773,389 $ 777,551 $ - $ 777,551 Special mention 279 - - 279 557 836 - 836 Substandard - - - - 15,728 15,728 18,049 33,777 Loans receivable, gross $ 4,069 $ 353 $ 19 $ 4,441 $ 789,674 $ 794,115 $ 18,049 $ 812,164 (In thousands) Performing (Accruing) Loans As of December 31, 2018: 30 - 59 Days 60 - 89 Days 90 Days 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 - 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 or Total Current Total As of December 31, 2019: Loan portfolio segment: Commercial Real Estate: Substandard $ - $ - $ 1,636 $ 1,636 $ 10,325 $ 11,961 Residential Real Estate: Substandard - - 1,872 1,872 1,356 3,228 Commercial and Industrial: Substandard - - 1,724 1,724 370 2,094 Consumer and Other: Substandard - - 149 149 617 766 Total non-accruing loans $ - $ - $ 5,381 $ 5,381 $ 12,668 $ 18,049 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) December 31, 2019 December 31, 2018 Loan portfolio segment: Number of Loans Recorded Investment Number of Loans Recorded Investment Commercial Real Estate 2 $ 9,873 1 $ 1,081 Residential Real Estate 2 393 1 296 Consumer and Other 2 687 2 689 Total TDR Loans 6 10,953 4 2,066 Less: TDRs included in non-accrual loans 2 (9,337 ) - - Total accrual TDR Loans 4 $ 1,616 4 $ 2,066 Outstanding Recorded Investment (In thousands) Number of Loans Pre-Modification Post-Modification Year Ended December 31, 2019 2019 2019 Loan portfolio segment: Commercial Real Estate 2 $ 8,912 $ 8,911 Total TDR Loans 2 $ 8,912 $ 8,911 Year Ended (In thousands) 2019 Rate reduction $ 111 Maturity and rate reduction 8,800 Total $ 8,911 |
Impaired Financing Receivables [Table Text Block] | (In thousands) December 31, 2019 December 31, 2018 Recorded Principal Related Recorded Principal Related With no related allowance recorded: Commercial Real Estate $ 4,234 $ 4,309 $ - $ 4,606 $ 5,109 $ - Residential Real Estate 3,621 3,623 - 670 703 - Commercial and Industrial 2,057 2,060 - 488 1,281 - Consumer and Other 916 1,000 - 827 867 - Construction - - - 8,800 8,839 - 10,828 10,992 - 15,391 16,799 - With a related allowance recorded: Commercial Real Estate 8,800 8,800 1,496 - - - Residential Real Estate - - - 1,632 1,632 216 Commercial and Industrial - - - 4,158 4,208 1,299 Consumer and Other - - - 37 37 30 8,800 8,800 1,496 5,827 5,877 1,545 Impaired Loans, Total: Commercial Real Estate 13,034 13,109 1,496 4,606 5,109 - Residential Real Estate 3,621 3,623 - 2,302 2,335 216 Commercial and Industrial 2,057 2,060 - 4,646 5,489 1,299 Consumer and Other 916 1,000 - 864 904 30 Construction - - - 8,800 8,839 - Impaired Loans, Total $ 19,628 $ 19,792 $ 1,496 $ 21,218 $ 22,676 $ 1,545 Year Ended December 31, (In thousands) 2019 2018 2017 Average Interest Average Interest Average Interest With no related allowance recorded: Commercial Real Estate $ 9,829 $ 95 $ 3,318 $ 100 $ 5,832 $ 102 Residential Real Estate 2,531 104 3,154 11 2,016 11 Commercial and Industrial 1,800 45 987 - 197 - Consumer and Other 901 35 750 31 593 22 Construction 4,062 - 1,354 503 - - 19,123 279 9,563 645 8,638 135 With a related allowance recorded: Commercial Real Estate 888 415 - - - - Residential Real Estate 952 - 126 - - - Commercial and Industrial 1,714 - 474 - 243 - Consumer and Other 18 - 9 - - - 3,572 415 609 - 243 - Impaired Loans, Total: Commercial Real Estate 10,717 510 3,318 100 5,832 102 Residential Real Estate 3,483 104 3,280 11 2,016 11 Commercial and Industrial 3,514 45 1,461 - 440 - Consumer and Other 919 35 759 31 593 22 Construction 4,062 - 1,354 503 - - Impaired Loans, Total $ 22,695 $ 694 $ 10,172 $ 645 $ 8,881 $ 135 |
Note 5 - Loans Held for Sale (T
Note 5 - Loans Held for Sale (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Servicing Asset at Amortized Cost [Table Text Block] | (In thousands) Year Ended December 31, 2019 2018 Beginning balance $ 37 - Servicing rights capitalized 180 42 Servicing rights amortized (16 ) (5 ) Ending balance 201 37 |
Note 6 - Premises and Equipme_2
Note 6 - Premises and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | (In thousands) Balance as of December 31, 2019 2018 Land $ 12,819 $ 12,819 Buildings 20,287 20,200 Leasehold Improvements 4,024 3,891 Furniture, equipment, and software 11,687 11,242 Construction-in-progress 50 113 Premises and equipment, gross 48,867 48,265 Accumulated depreciation and amortization (14,299 ) (12,830 ) Premises and equipment, net $ 34,568 $ 35,435 |
Note 8 - Business Combination_2
Note 8 - Business Combination, Goodwill and Other Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Goodwill [Table Text Block] | For the Year Ended December 31, (In thousands) 2019 2018 Balance, resulting from acquisition $ 1,728 $ 1,728 Mesurement period adjustments (621 ) - Balance, end of period $ 1,107 $ 1,728 |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | For the Year Ended December 31, (In thousands) 2019 2018 Gross Intangible asset $ 748 $ 748 Accumulated amortization (125 ) (50 ) Core deposit intangible, net $ 623 $ 698 |
Note 9 - Deposits (Tables)
Note 9 - Deposits (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Deposit Liabilities, Type [Table Text Block] | December 31, 2019 2018 (In thousands) Balance Weighted Balance Weighted Non-interest bearing $ 88,135 $ - $ 84,471 - Interest bearing: NOW 26,864 0.08 % 26,100 0.08 % Savings 64,020 0.76 % 81,912 0.72 % Money market 99,115 1.85 % 85,197 1.82 % Certificates of deposit, less than $250,000 193,942 2.19 % 203,683 1.83 % Certificates of deposit, $250,000 or greater 67,550 2.48 % 78,318 2.20 % Brokered deposits 229,909 2.01 % 183,600 2.29 % Interest bearing, Total 681,400 1.89 % 658,810 1.79 % Total Deposits $ 769,535 1.68 % $ 743,281 1.59 % |
Schedule of Interest Expenses on Deposits Liabilities Type [Table Text Block] | (In thousands) Year ended December 31, 2019 2018 2017 Interest Weighted Interest Weighted Interest Weighted NOW $ 18 0.07 % $ 15 0.06 % $ 7 0.03 % Savings 429 0.63 % 995 0.85 % 1,160 0.81 % Money market 2,048 2.00 % 549 1.34 % 5 0.04 % Certificates of deposit, less than $250,000 4,986 2.38 % 3,048 1.57 % 1,875 1.05 % Certificates of deposit, $250,000 or greater 1,546 2.01 % 1,226 1.68 % 912 1.46 % Brokered deposits 4,958 2.47 % 3,191 1.91 % 989 1.24 % $ 13,985 2.05 % $ 9,024 1.46 % $ 4,948 0.99 % |
Contractual Obligation, Fiscal Year Maturity [Table Text Block] | (In thousands) CDs CDs Brokered Total 1 year or less $ 177,878 $ 64,158 $ 206,707 $ 448,743 More than 1 year through 2 years 12,270 2,042 17,605 31,917 More than 2 years through 3 years 2,530 765 5,347 8,642 More than 3 years through 4 years 387 585 - 972 More than 4 years through 5 years 877 - 250 1,127 $ 193,942 $ 67,550 $ 229,909 $ 491,401 |
Note 10 - Borrowings (Tables)
Note 10 - Borrowings (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Maturities of Long-term Debt [Table Text Block] | (In thousands) Year ending December 31, FHLB-B Senior Subordinated Junior Subordinated Debt Note Total 2020 $ 10,000 - - - 199 10,199 2021 - 12,000 - - 202 12,202 2022 - - - - 206 206 2023 60,000 - - - 210 60,210 2024 30,000 - - - 376 30,376 Thereafter - - 10,000 8,248 - 18,248 Total contractual maturities of borrowings 100,000 12,000 10,000 8,248 1,193 131,441 Unamortized debt issuance costs - (147 ) (248 ) (146 ) - (541 ) Balance of borrowings at December 31, 2019 $ 100,000 11,853 9,752 8,102 1,193 130,900 |
Note 11 - Derivatives (Tables)
Note 11 - Derivatives (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Derivative Instruments [Table Text Block] | (In thousands) Notional Amount Maturity (Years) Fixed Rate Variable Fair Value December 31, 2019: Classified in Other Assets: Customer interest rate swap $ 4,944 9.3 5.25 % 1 Mo. LIBOR + 1.96% $ 617 Customer interest rate swap 1,444 9.5 4.38 % 1 Mo. LIBOR + 2.00% 77 Classified in Other Liabilities: 3rd party interest rate swap $ 4,944 9.3 5.25 % 1 Mo. LIBOR + 1.96% $ (617 ) 3rd party interest rate swap 1,444 9.5 4.38 % 1 Mo. LIBOR + 2.00% (77 ) 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 12 - Leases (Tables)
Note 12 - Leases (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | (in thousands) Operating lease Years ending December 31, Obligation 2020 $ 520 2021 531 2022 497 2023 463 2024 350 Thereafter 1,564 Total undiscounted lease payments $ 3,925 Less imputed interest (661 ) Present value of operating lease liabilities $ 3,264 Operating lease right-of-use asset $ 3,160 |
Lease, Cost [Table Text Block] | Year Ended December 31, 2019 Lease cost Operating lease cost $ 517 Short-term lease cost 119 Total lease cost $ 636 Other information Operating cash flows from operating leases $ 459 Weighted -average remaining lease term - operating leases (in years) 10 Weighted -average discount rate - operating leases 3.48 % |
Note 14 - Income Taxes (Tables)
Note 14 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | (In thousands) Year Ended December 31, 2019 2018 2017 Current: Federal $ 88 $ 447 $ 252 State 149 708 365 237 1,155 617 Deferred: Federal (698 ) 148 2,067 State (438 ) (413 ) 191 (1,136 ) (265 ) 2,258 Income tax (benefit) expense $ (899 ) $ 890 $ 2,875 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | (In thousands) Year Ended December 31, 2019 2018 2017 Income taxes at statutory Federal rate $ (780 ) $ 858 $ 2,387 State taxes, net of Federal benefit (228 ) 233 377 Nondeductible expenses 14 15 11 Benefit of change in Sec 382 classification - (500 ) (2,774 ) Deferred tax adjustment resulting from tax rate change - 198 2,809 Other 95 86 65 Income tax (benefit) expense $ (899 ) $ 890 $ 2,875 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | (In thousands) December 31, 2019 2018 Deferred tax assets: Federal NOL carryforward benefit $ 4,759 $ 4,119 NOL write-off for Sec 382 Limit (3,258 ) (3,258 ) Capitalized cost temporary item 3,929 4,239 State NOL carryforward benefit 3,341 3,025 Allowance for loan loss 2,718 2,048 Lease liabilities 882 - Non-accrual interest 335 170 Merger and acquisition 220 357 Accrued expenses 114 178 Unrealized loss AFS securities 140 288 Share based compensation 13 109 Federal AMT benefit - 707 Other - 20 Gross deferred tax assets $ 13,193 $ 12,002 Deferred tax liabilities: UTP (NOLs used) (1,132 ) (1,132 ) Right-of-Use assets (849 ) - Goodwill and intangible (40 ) (16 ) Depreciation of premises and equipment (34 ) (3 ) Other (5 ) - Gross deferred tax liabilities (2,060 ) (1,151 ) Net deferred tax asset 11,133 10,851 |
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] | (In thousands) For the Year Ended December 31, 2019 2018 Balance, beginning of year $ 1,132 $ - Increases due to tax positions related to a prior year 88 1,132 Balance, end of year $ 1,220 $ 1,132 |
Note 15 - Share-based Compens_2
Note 15 - Share-based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block] | Number Weighted Average Unvested at December 31, 2016 35,264 $ 12.84 Granted 5,084 $ 15.05 Vested (7,878 ) $ 14.31 Forfeited (6,600 ) $ 15.50 Unvested at December 31, 2017 25,870 $ 12.15 Granted 18,323 $ 18.07 Vested (10,999 ) $ 16.21 Forfeited (1,404 ) $ 14.44 Unvested at December 31, 2018 31,790 $ 14.06 Granted 9,675 $ 15.52 Vested (19,995 ) $ 15.99 Unvested at December 31, 2019 21,470 $ 12.91 |
Note 16 - Shareholders' Equity
Note 16 - Shareholders' Equity (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | (Net income in thousands) Year ended December 31, 2019 2018 2017 Basic (loss) earnings per share: Net (loss) income attributable to Common shareholders $ (2,817 ) $ 3,196 4,147 Divided by: Weighted average shares outstanding 3,921,783 3,904,052 3,894,222 Basic (loss) earnings per common share $ (0.72 ) $ 0.82 $ 1.06 Diluted (loss) earnings per share: Net (loss) income attributable to Common shareholders (2,817 ) 3,196 4,147 Weighted average shares outstanding 3,921,783 3,904,052 3,894,222 Effect of potentially dilutive restricted common shares - (1) 11,573 2,963 Divided by: Weighted average diluted shares outstanding 3,921,783 3,915,625 3,897,185 Diluted (loss) earnings per common share $ (0.72 ) $ 0.82 $ 1.06 |
Note 18 - Financial Instrumen_2
Note 18 - Financial Instruments with Off-balance Sheet Risk (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Commitment to Extended Credit [Table Text Block] | As of December 31, (In thousands) 2019 2018 Commitments to extend credit: Unused lines of credit $ 71,101 $ 77,120 Undisbursed construction loans 25,367 20,679 Home equity lines of credit 20,032 19,330 Future loan commitments 27,822 61,438 Financial standby letters of credit 743 1,160 $ 145,065 $ 179,727 |
Note 19 - Regulatory and Oper_2
Note 19 - Regulatory and Operational Matters (Tables) | 12 Months Ended |
Dec. 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. December 31, 2019 December 31, 2018 December 31, 2019 December 31, 2018 Amount Ratio Amount Ratio Amount Ratio Amount Ratio Total Capital (to risk weighted assets): Actual $ 90,083 10.510 $ 90,722 10.452 $ 100,953 11.826 $ 99,341 11.500 To be Well Capitalized (1) - - - - 85,362 10.000 86,384 10.000 For capital adequacy with Capital Buffer (2) - - - - 89,630 10.500 85,304 9.875 For capital adequacy 68,573 8.000 69,441 8.000 68,290 8.000 69,107 8.000 Tier 1 Capital (to risk weighted assets): Actual 69,957 8.161 73,101 8.422 90,827 10.640 91,720 10.618 To be Well Capitalized (1) - - - - 68,290 8.000 69,107 8.000 For capital adequacy with Capital Buffer (2) - - - - 72,558 8.500 68,027 7.875 For capital adequacy 51,430 6.000 52,081 6.000 51,217 6.000 51,830 6.000 Common Equity Tier 1 Capital Actual 61,957 7.228 65,101 7.500 90,827 10.640 91,720 10.618 To be Well Capitalized (1) - - - - 55,485 6.500 56,149 6.500 For capital adequacy with Capital Buffer (2) - - - - 59,753 7.000 55,069 6.375 For capital adequacy 38,572 4.500 39,061 4.500 38,413 4.500 38,873 4.500 Tier 1 Leverage Capital (to average assets): Actual 69,957 7.148 73,101 7.842 90,827 9.279 91,720 9.838 To be Well Capitalized (1) - - - - 48,944 5.000 46,617 5.000 For capital adequacy 39,148 4.000 37,288 4.000 39,155 4.000 37,294 4.000 |
Note 21 - Fair Value and Inte_2
Note 21 - Fair Value and Interest Rate Risk (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Fair Value, by Balance Sheet Grouping [Table Text Block] | (In thousands) December 31, 2019 December 31, 2018 Fair Value Carrying Estimated Carrying Estimated Financial Assets: Cash and noninterest bearing balances due from banks Level 1 $ 2,693 $ 2,693 $ 7,381 $ 7,381 Interest-bearing deposits due from banks Level 1 36,711 36,711 59,056 59,056 Available-for-sale securities Level 2 48,317 48,317 39,496 39,496 Other investments Level 2 4,450 4,450 4,963 4,963 Federal Reserve Bank stock Level 2 2,897 2,897 2,866 2,866 Federal Home Loan Bank stock Level 2 4,477 4,477 4,928 4,928 Loans receivable, net Level 3 802,049 793,559 772,767 762,581 SBA loans held for sale Level 2 15,282 16,733 - - SBA servicing assets Level 3 201 280 37 37 Accrued interest receivable Level 2 3,603 3,603 3,766 3,766 Interest rate swap receivable Level 2 694 694 286 286 Financial assets, total $ 921,374 $ 914,414 $ 895,546 $ 885,360 Financial Liabilities: Demand deposits Level 2 $ 88,135 $ 88,135 $ 84,471 $ 84,471 Savings deposits Level 2 64,020 64,020 81,912 81,912 Money market deposits Level 2 99,115 99,115 85,197 85,197 NOW accounts Level 2 26,864 26,864 26,100 26,100 Time deposits Level 2 261,492 261,914 282,001 280,538 Brokered deposits Level 1 229,909 230,073 183,600 183,120 FHLB borrowings Level 2 100,000 103,962 100,000 101,369 Senior notes Level 2 11,853 11,722 11,778 11,293 Subordinated debt Level 2 9,752 9,747 9,723 9,348 Junior subordinated debt owed to unconsolidated trust Level 2 8,102 8,102 8,094 8,094 Note payable Level 3 1,193 1,129 1,388 1,239 Accrued interest payable Level 2 1,971 1,971 1,605 1,605 Contingent consideration liability Level 3 86 86 707 707 Interest rate swap liability Level 2 694 694 286 286 Financial liabilities, total $ 903,186 $ 907,534 $ 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 December 31, 2019: U. S. Government agency mortgage-backed securities $ - $ 16,685 $ - $ 16,685 Corporate bonds - 17,313 - 17,313 Subordinated notes - 9,204 - 9,204 SBA loan pools - 5,115 - 5,115 Available-for-sale securities $ - $ 48,317 $ - $ 48,317 Impaired PCI Loans, net $ - $ - $ 176 $ 176 Contingent consideration liability $ - $ - $ 86 $ 86 Interest rate swap receivable $ - $ 694 $ - $ 694 Interest rate swap liability $ - $ 694 $ - $ 694 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 rate swap receivable $ - $ 286 $ - $ 286 Interest rate 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 December 31, 2019: Impaired loans, net $ 18,132 Real Estate Appraisals Discount for appraisal type 8% - 20% Other Real Estate Owned 2,400 Real Estate Appraisals Discount for appraisal type 12% SBA servicing assets 280 Discounted Cash Flows Market discount rates 14.73% - 14.90% 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% SBA servicing assets 37 Discounted Cash Flows Market discount rates 14.73% - 14.90% |
Note 22 - Parent Company-only_2
Note 22 - Parent Company-only Financial Statements (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Condensed Balance Sheet [Table Text Block] | (In thousands) As of December 31, 2019 2018 ASSETS Cash and due from banks $ 667 $ 2,443 Investment in subsidiary 96,235 96,883 Other assets 564 59 Total assets 97,466 99,385 LIABILITIES AND SHAREHOLDERS' EQUITY Borrowings 29,707 29,595 Accrued expenses and other liabilities 765 450 Shareholders' equity 66,994 69,340 Total liabilities and shareholders' equity $ 97,466 $ 99,385 |
Condensed Income Statement [Table Text Block] | (In thousands) Year ended December 31, 2019 2018 2017 Expenses: Interest on subordinated debt $ 476 $ 454 $ 371 Interest on senior debt 1,571 1,242 915 Total interest expense 2,047 1,696 1,286 Other expenses 214 313 208 Loss before benefit for income taxes 2,261 2,009 1,494 Benefit for income taxes (504 ) - - Loss before equity in undistributed net income of subsidiary 1,757 2,009 1,494 Equity in undistributed net (loss) income of subsidiary (1,060 ) 5,205 5,641 Net (loss) income (2,817 ) 3,196 4,147 Equity in subsidiary other comprehensive income (loss), net of subsidiary 423 (671 ) (35 ) Total comprehensive (loss) income $ (2,394 ) $ 2,525 $ 4,112 |
Condensed Cash Flow Statement [Table Text Block] | (In thousands) Year ended December 31, 2019 2018 2017 Cash Flows from Operating Activities: Net (loss) income $ (2,817 ) $ 3,196 $ 4,147 Adjustments to reconcile net income to net cash provided by (used in) operating activities: Equity in undistributed loss (income) of subsidiary 1,060 (5,205 ) (5,641 ) Share-based compensation 214 220 146 Amortization of debt issuance costs 112 97 82 Change in assets and liabilities: Increase in other assets (505 ) - (13 ) Increase in accrued expenses and other liabilities 315 61 32 Net cash used in operating activities (1,621 ) (1,631 ) (1,247 ) Cash Flows from Investing Activities: Net increase in investment in Patriot Bank N.A. - (7,800 ) - Net cash used in investing activities - (7,800 ) - Cash Flows from Financing Activities: Proceeds from issuance of senior notes, net - 9,709 - Purchase of treasury stock - - (2 ) Dividends paid on common stock (155 ) (154 ) (77 ) Net cash (used in) provided by financing activities (155 ) 9,555 (79 ) Net (decrease) increase in cash and cash equivalents (1,776 ) 124 (1,326 ) Cash and cash equivalents at beginning of year 2,443 2,319 3,645 Cash and cash equivalents at end of year $ 667 $ 2,443 $ 2,319 Supplemental Disclosures of Cash Flow Information: Cash paid for interest $ 1,593 $ 1,600 $ 1,203 Cash paid for income taxes $ - $ - $ - |
Note 1 - Nature of Operations_2
Note 1 - Nature of Operations and Summary of Significant Accounting Policies (Details Textual) | 3 Months Ended | 12 Months Ended | |||
Dec. 31, 2019USD ($)$ / shares | Dec. 31, 2019USD ($)$ / shares | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Jan. 01, 2019USD ($) | |
Allowance for Loan and Lease Losses, Troubled Debt Restructuring | $ 1,500,000 | ||||
Financing Receivable, Modifications, Number of Contracts | 1 | 2 | 0 | 0 | |
Net Income (Loss), Excluding Effect of Loan Loss Provision from Troubled Debt Restructuring | $ (422,000) | ||||
Net Income (Loss) Attributable to Parent, Total | $ (1,500,000) | $ (2,817,000) | $ 3,196,000 | $ 4,147,000 | |
Earnings Per Share, Basic and Diluted, Excluding Effect of Loan Loss Provision from Troubled Debt Restructuring (in dollars per share) | $ / shares | $ 0.11 | ||||
Earnings Per Share, Basic and Diluted, Total (in dollars per share) | $ / shares | $ (0.39) | ||||
Federal Home Loan Bank Stock and Federal Reserve Bank Stock, Total | $ 7,400,000 | 7,400,000 | 7,800,000 | ||
Impairment of Investment in Federal Home Loan Bank Stock and Federal Reserve Bank Stock | 0 | 0 | |||
SBA Loan Funds | 4,500,000 | 4,500,000 | 4,500,000 | ||
Financing Receivable, Credit Loss, Expense (Reversal) | 4,971,000 | 1,303,000 | $ (857,000) | ||
Goodwill, Impaired, Accumulated Impairment Loss | $ 0 | ||||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | 35.00% | |||
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability | $ 2,800,000 | ||||
Deferred Tax Assets, Valuation Allowance, Total | 0 | 0 | $ 0 | ||
Deferred Tax Assets, Net of Valuation Allowance, Total | 11,100,000 | 11,100,000 | 10,900,000 | ||
Unrecognized Tax Benefits, Ending Balance | 1,220,000 | 1,220,000 | $ 1,132,000 | ||
Operating Lease, Right-of-Use Asset | $ 3,160,000 | $ 3,160,000 | |||
Accounting Standards Update 2016-02 [Member] | |||||
Operating Lease, Right-of-Use Asset | $ 3,400,000 | ||||
Operating Lease, Liability, Total | $ 3,400,000 | ||||
Vesting Period Two [Member] | Restricted Stock [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 4 years | ||||
Vesting Period Three [Member] | Restricted Stock [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 5 years | ||||
Core Deposits [Member] | |||||
Finite-Lived Intangible Asset, Useful Life (Year) | 10 years | ||||
Minimum [Member] | |||||
Property, Plant and Equipment, Useful Life (Year) | 3 years | ||||
Maximum [Member] | |||||
Property, Plant and Equipment, Useful Life (Year) | 40 years | ||||
Federal Home Loan Bank Certificates and Obligations (FHLB) [Member] | |||||
Stock Value Par or Stated Value per Share (in dollars per share) | $ / shares | $ 100 | $ 100 | |||
CONNECTICUT | |||||
Number of Operating Branches | 7 | ||||
NEW YORK | |||||
Number of Operating Branches | 2 |
Note 2 - Restrictions on Cash_2
Note 2 - Restrictions on Cash and Due From Banks (Details Textual) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Restricted Cash and Cash Equivalents, Total | $ 16 | $ 16 |
Note 3 - Available-for-sale S_3
Note 3 - Available-for-sale Securities (Details Textual) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | |
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 15 | 10 |
Number of Available-for-sale Securities | 27 | 16 |
Unrealized Holding Losses Depreciation Percentage from Amortized Cost | 3.70% | 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 | |
Available-For-Sale Securities Pledged to Secure Municipal Deposits [Member] | ||
Debt Securities, Available-for-sale, Restricted | 4,800 | $ 7,000 |
Available-For-Sale Securities Pledged to FRB of New York [Member] | ||
Debt Securities, Available-for-sale, Restricted | $ 4,800 | 5,500 |
Available-For-Sale Securities Pledged to St. Louis Fed [Member] | ||
Debt Securities, Available-for-sale, Restricted | $ 1,500 |
Note 3 - Available-for-sale S_4
Note 3 - Available-for-sale Securities - Investment Securities (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Available-for-sale securities, amortized cost | $ 48,860 | $ 40,610 |
Available-for-sale securities, gross unrealized gains | 405 | 108 |
Available-for-sale securities, gross unrealized losses | (948) | (1,222) |
Available-for-sale securities | 48,317 | 39,496 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Available-for-sale securities, amortized cost | 16,663 | 20,626 |
Available-for-sale securities, gross unrealized gains | 90 | 43 |
Available-for-sale securities, gross unrealized losses | (68) | (196) |
Available-for-sale securities | 16,685 | 20,473 |
Corporate Debt Securities [Member] | ||
Available-for-sale securities, amortized cost | 18,018 | 14,000 |
Available-for-sale securities, gross unrealized gains | 133 | |
Available-for-sale securities, gross unrealized losses | (838) | (1,026) |
Available-for-sale securities | 17,313 | 12,974 |
Subordinated Notes [Member] | ||
Available-for-sale securities, amortized cost | 9,022 | 4,500 |
Available-for-sale securities, gross unrealized gains | 182 | 64 |
Available-for-sale securities, gross unrealized losses | ||
Available-for-sale securities | 9,204 | 4,564 |
SBA Loan Pools [Member] | ||
Available-for-sale securities, amortized cost | 5,157 | |
Available-for-sale securities, gross unrealized gains | ||
Available-for-sale securities, gross unrealized losses | (42) | |
Available-for-sale securities | $ 5,115 | |
US Treasury Securities [Member] | ||
Available-for-sale securities, amortized cost | 1,484 | |
Available-for-sale securities, gross unrealized gains | 1 | |
Available-for-sale securities, gross unrealized losses | ||
Available-for-sale securities | $ 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 | Dec. 31, 2019 | Dec. 31, 2018 |
Available-for-sale securities in continuous loss position, less than 12 months, fair value | $ 7,724 | $ 8,024 |
Available-for-sale securities in continuous loss position, less than 12 months, unrealized loss | (62) | (38) |
Available-for-sale securities in continuous loss position, 12 months or more, fair value | 17,081 | 18,396 |
Available-for-sale securities in continuous loss position, 12 months or more, unrealized loss | (886) | (1,184) |
Available-for-sale securities in continuous loss position, fair value | 24,805 | 26,420 |
Available-for-sale securities in continuous loss position, unrealized loss | (948) | (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 | 2,609 | 8,024 |
Available-for-sale securities in continuous loss position, less than 12 months, unrealized loss | (20) | (38) |
Available-for-sale securities in continuous loss position, 12 months or more, fair value | 3,919 | 5,422 |
Available-for-sale securities in continuous loss position, 12 months or more, unrealized loss | (48) | (158) |
Available-for-sale securities in continuous loss position, fair value | 6,528 | 13,446 |
Available-for-sale securities in continuous loss position, unrealized loss | (68) | (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 | 13,162 | 12,974 |
Available-for-sale securities in continuous loss position, 12 months or more, unrealized loss | (838) | (1,026) |
Available-for-sale securities in continuous loss position, fair value | 13,162 | 12,974 |
Available-for-sale securities in continuous loss position, unrealized loss | (838) | $ (1,026) |
SBA Loan Pools [Member] | ||
Available-for-sale securities in continuous loss position, less than 12 months, fair value | 5,115 | |
Available-for-sale securities in continuous loss position, less than 12 months, unrealized loss | (42) | |
Available-for-sale securities in continuous loss position, 12 months or more, fair value | ||
Available-for-sale securities in continuous loss position, 12 months or more, unrealized loss | ||
Available-for-sale securities in continuous loss position, fair value | 5,115 | |
Available-for-sale securities in continuous loss position, unrealized loss | $ (42) |
Note 3 - Available-for-sale S_6
Note 3 - Available-for-sale Securities - Investment Debt Securities by Contractual Maturity (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Amortized cost, due within 5 years | $ 7,823 | $ 8,326 |
Amortized cost, due after 5 years through 10 years | 30,226 | 19,168 |
Amortized cost, due after 10 years | 10,811 | 13,116 |
Available-for-sale securities, amortized cost | 48,860 | 40,610 |
Fair value, due within 5 years | 7,961 | 8,329 |
Fair value, due after 5 years through 10 years | 29,497 | 18,631 |
Fair value, due after 10 years | 10,859 | 12,536 |
Fair value, total | 48,317 | 39,496 |
Corporate Debt Securities [Member] | ||
Amortized cost, due within 5 years | 4,018 | |
Amortized cost, due after 5 years through 10 years | 14,000 | 9,000 |
Amortized cost, due after 10 years | 5,000 | |
Available-for-sale securities, amortized cost | 18,018 | 14,000 |
Fair value, due within 5 years | 4,151 | |
Fair value, due after 5 years through 10 years | 13,162 | 8,537 |
Fair value, due after 10 years | 4,437 | |
Fair value, total | 17,313 | 12,974 |
Subordinated Notes [Member] | ||
Amortized cost, due within 5 years | ||
Amortized cost, due after 5 years through 10 years | 9,022 | 4,500 |
Amortized cost, due after 10 years | ||
Available-for-sale securities, amortized cost | 9,022 | 4,500 |
Fair value, due within 5 years | ||
Fair value, due after 5 years through 10 years | 9,204 | 4,564 |
Fair value, due after 10 years | ||
Fair value, total | 9,204 | 4,564 |
SBA Loan Pools [Member] | ||
Amortized cost, due within 5 years | ||
Amortized cost, due after 5 years through 10 years | 5,157 | |
Amortized cost, due after 10 years | ||
Available-for-sale securities, amortized cost | 5,157 | |
Fair value, due within 5 years | ||
Fair value, due after 5 years through 10 years | 5,115 | |
Fair value, due after 10 years | ||
Fair value, total | 5,115 | |
Available-for-sale Securities with Single Maturity Dates [Member] | ||
Amortized cost, due within 5 years | 4,018 | 1,484 |
Amortized cost, due after 5 years through 10 years | 28,179 | 13,500 |
Amortized cost, due after 10 years | 5,000 | |
Available-for-sale securities, amortized cost | 32,197 | 19,984 |
Fair value, due within 5 years | 4,151 | 1,485 |
Fair value, due after 5 years through 10 years | 27,481 | 13,101 |
Fair value, due after 10 years | 4,437 | |
Fair value, total | 31,632 | 19,023 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Amortized cost, due within 5 years | 3,805 | 6,842 |
Amortized cost, due after 5 years through 10 years | 2,047 | 5,668 |
Amortized cost, due after 10 years | 10,811 | 8,116 |
Available-for-sale securities, amortized cost | 16,663 | 20,626 |
Fair value, due within 5 years | 3,810 | 6,844 |
Fair value, due after 5 years through 10 years | 2,016 | 5,530 |
Fair value, due after 10 years | 10,859 | 8,099 |
Fair value, total | $ 16,685 | 20,473 |
US Treasury Securities [Member] | ||
Amortized cost, due within 5 years | 1,484 | |
Amortized cost, due after 5 years through 10 years | ||
Amortized cost, due after 10 years | ||
Available-for-sale securities, amortized cost | 1,484 | |
Fair value, due within 5 years | 1,485 | |
Fair value, due after 5 years through 10 years | ||
Fair value, due after 10 years | ||
Fair value, total | $ 1,485 |
Note 4 - Loan Receivable and _3
Note 4 - Loan Receivable and Allowance for Loan and Lease Losses (Details Textual) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Dec. 31, 2019USD ($) | Sep. 30, 2019 | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | $ 176,000 | $ 176,000 | $ 615,000 | ||
Deteriorated Loans Transferred in, Debt Securities, Accreditable Yield, Period Increase (Decrease), Total | 47,000 | 92,000 | |||
Payments to Acquire Loans Receivable | $ 54,604,000 | 47,074,000 | $ 73,022,000 | ||
Maximum Period of Credit Extension of Construction Loans (Month) | 1 year 180 days | ||||
Loans Receivable, Term to Reset to FHLB Rate (Year) | 5 years | ||||
Period for Charged Off of Open-End Credits (Day) | 180 days | ||||
Period for Charged Off of Close-End Credits (Day) | 120 days | ||||
Loans and Leases Receivable, Impaired, Interest Lost on Nonaccrual Loans | $ 302,000 | 503,000 | $ 209,000 | ||
Maximum Period for Charged Off of Consumer Installment Loans (Day) | 180 days | ||||
Financing Receivable, Troubled Debt Restructuring | 10,953,000 | 10,953,000 | 2,066,000 | ||
Financing Receivable, Troubled Debt Restructuring, Commitment to Lend | 0 | 0 | 0 | ||
Impaired Financing Receivable, Recorded Investment, Total | 19,600,000 | 19,600,000 | 21,200,000 | ||
Impaired Financing Receivable, Related Allowance | $ 1,500,000 | $ 1,500,000 | $ 1,500,000 | ||
Number of Impaired Loans | 27 | 27 | 25 | ||
Impaired Financing Receivable, Non-Performing Loans, Discount to Appraisal Value, Percent | 12.00% | 12.00% | 12.00% | ||
Impaired Financing Receivable, Non-Performing Loans, Discount of Appraisal Value, Selling Costs, Percent | 8.00% | 8.00% | 8.00% | ||
Financing Receivable, Modifications, Number of Contracts | 1 | 2 | 0 | 0 | |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 0 | 0 | |||
SBA Loans [Member] | |||||
Percentage of Principal Balance Guaranteed | 75.00% | 75.00% | |||
Syndicated and Leveraged Loans [Member] | |||||
Loans and Leases Receivable, Net Amount, Total | $ 71,500,000 | $ 71,500,000 | $ 81,900,000 | ||
Non-Accrual Loans [Member] | |||||
Impaired Financing Receivable, Interest Income, Cash Basis Method, Total | 671,000 | 0 | $ 0 | ||
Financing Receivable, Troubled Debt Restructuring | 9,337,000 | $ 9,337,000 | |||
Commercial Real Estate Portfolio Segment [Member] | |||||
Maximum Percentage of Credit Extension Based on Market Value of Collateral | 75.00% | ||||
Financing Receivable, Troubled Debt Restructuring | 9,873,000 | $ 9,873,000 | 1,081,000 | ||
Financing Receivable, Modifications, Number of Contracts | 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% | ||||
Residential Portfolio Segment [Member] | |||||
Payments to Acquire Loans Receivable | $ 47,300,000 | 25,600,000 | |||
Financing Receivable, Troubled Debt Restructuring | 393,000 | 393,000 | 296,000 | ||
Consumer Portfolio Segment [Member] | |||||
Financing Receivable, Troubled Debt Restructuring | 687,000 | 687,000 | 689,000 | ||
Consumer Portfolio Segment [Member] | Education Loans [Member] | |||||
Payments to Acquire Loans Receivable | $ 7,300,000 | 21,400,000 | |||
Construction to Permanent Portfolio Segment [Member] | Minimum [Member] | |||||
Loans Receivable, Term (Year) | 20 years | ||||
Construction to Permanent Portfolio Segment [Member] | Maximum [Member] | |||||
Loans Receivable, Term (Year) | 25 years | ||||
Commercial and Industrial Loans [Member] | |||||
Loans and Leases Receivable, Net Amount, Total | 9,600,000 | $ 9,600,000 | $ 1,500,000 | ||
Commercial and Industrial Portfolio Segment [Member] | |||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 176,000 | 176,000 | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Allowance for Loan Losses | $ 0 | $ 0 |
Note 4 - Loan Receivable and _4
Note 4 - Loan Receivable and Allowance for Loan and Lease Losses - Loan Portfolio (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Loans receivable, gross | $ 812,164 | ||||
Allowance for loan and lease losses | (10,115) | $ (7,609) | $ (6,297) | $ (4,675) | |
Loans receivable, net | 802,049 | 772,767 | |||
Business Activities Loans [Member] | |||||
Loans receivable, gross | 812,164 | 780,376 | [1] | ||
Allowance for loan and lease losses | (10,115) | (7,609) | |||
Loans receivable, net | 802,049 | ||||
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] | |||||
Loans receivable, gross | 314,414 | ||||
Allowance for loan and lease losses | (3,789) | (1,866) | (2,212) | (1,853) | |
Commercial Real Estate Portfolio Segment [Member] | Business Activities Loans [Member] | |||||
Loans receivable, gross | 314,414 | 274,938 | |||
Allowance for loan and lease losses | (1,866) | ||||
Commercial Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | |||||
Loans receivable, gross | 274,938 | ||||
Residential Portfolio Segment [Member] | |||||
Loans receivable, gross | 175,489 | ||||
Allowance for loan and lease losses | (1,038) | (1,059) | (959) | (534) | |
Residential Portfolio Segment [Member] | Business Activities Loans [Member] | |||||
Loans receivable, gross | 175,489 | 157,300 | |||
Allowance for loan and lease losses | (1,059) | ||||
Residential Portfolio Segment [Member] | Acquired Loans [Member] | |||||
Loans receivable, gross | 157,300 | ||||
Commercial Portfolio Segment [Member] | |||||
Loans receivable, gross | 173,875 | ||||
Allowance for loan and lease losses | (4,340) | (3,558) | (2,023) | (740) | |
Commercial Portfolio Segment [Member] | Business Activities Loans [Member] | |||||
Loans receivable, gross | 173,875 | 191,852 | |||
Allowance for loan and lease losses | (3,558) | ||||
Commercial Portfolio Segment [Member] | Acquired Loans [Member] | |||||
Loans receivable, gross | 191,852 | ||||
Consumer Portfolio Segment [Member] | |||||
Loans receivable, gross | 85,934 | ||||
Allowance for loan and lease losses | (341) | (641) | (568) | (641) | |
Consumer Portfolio Segment [Member] | Business Activities Loans [Member] | |||||
Loans receivable, gross | 85,934 | 94,569 | |||
Allowance for loan and lease losses | (641) | ||||
Consumer Portfolio Segment [Member] | Acquired Loans [Member] | |||||
Loans receivable, gross | 94,569 | ||||
Construction Portfolio Segment [Member] | |||||
Loans receivable, gross | 48,388 | ||||
Allowance for loan and lease losses | (477) | (350) | (481) | (712) | |
Construction Portfolio Segment [Member] | Business Activities Loans [Member] | |||||
Loans receivable, gross | 48,388 | 46,040 | |||
Allowance for loan and lease losses | (350) | ||||
Construction Portfolio Segment [Member] | Acquired Loans [Member] | |||||
Loans receivable, gross | 46,040 | ||||
Construction to Permanent Portfolio Segment [Member] | |||||
Loans receivable, gross | 14,064 | ||||
Allowance for loan and lease losses | (130) | (108) | $ (54) | $ (69) | |
Construction to Permanent Portfolio Segment [Member] | Business Activities Loans [Member] | |||||
Loans receivable, gross | $ 14,064 | 15,677 | |||
Allowance for loan and lease losses | (108) | ||||
Construction to Permanent Portfolio Segment [Member] | Acquired Loans [Member] | |||||
Loans receivable, gross | $ 15,677 | ||||
[1] |
Note 4 - Loan Receivable and _5
Note 4 - Loan Receivable and Allowance for Loan and Lease Losses - Summary of Changes in Accretable Discount for PCI (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Accretable discount, beginning of period | $ (792) | $ (1,316) |
Accretion | 47 | 92 |
Other changes, net | 698 | 432 |
Accretable discount, end of period | $ (47) | $ (792) |
Note 4 - Loan Receivable and _6
Note 4 - Loan Receivable and Allowance for Loan and Lease Losses - Allowance for Loan Losses (Details) - USD ($) $ in Thousands | 12 Months Ended | |||||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2019 | Dec. 31, 2018 | ||
Balance | $ 7,609 | $ 6,297 | $ 4,675 | |||
Charge-offs | (2,659) | (35) | (304) | |||
Recoveries | 194 | 44 | 2,783 | |||
Provisions (credits) | 4,971 | 1,303 | (857) | |||
Balance | 10,115 | 7,609 | 6,297 | |||
Individually evaluated for impairment | $ 1,496 | |||||
Collectively evaluated for impairment | 8,619 | |||||
Total allowance for loan and lease losses | 10,115 | 6,297 | 4,675 | 10,115 | $ 7,609 | |
Individually evaluated for impairment | 19,628 | |||||
PCI loans individually evaluated for impairment | 176 | |||||
Collectively evaluated for impairment | 792,360 | |||||
Balance | 812,164 | |||||
Total allowance for loan losses | 10,115 | 6,297 | 4,675 | 10,115 | 7,609 | |
Loans receivable, gross: Individually evaluated for impairment | 19,628 | |||||
PCI loans individually evaluated for impairment | 176 | |||||
Loans receivable, gross: Collectively evaluated for impairment | 792,360 | |||||
Total loans receivable, gross | 812,164 | |||||
Business Activities Loans [Member] | ||||||
Balance | 7,609 | |||||
Balance | 10,115 | 7,609 | ||||
Individually evaluated for impairment | 1,545 | |||||
Collectively evaluated for impairment | 6,064 | |||||
Total allowance for loan and lease losses | 7,609 | 7,609 | 10,115 | 7,609 | ||
Individually evaluated for impairment | 21,218 | |||||
PCI loans individually evaluated for impairment | 615 | |||||
Collectively evaluated for impairment | 758,543 | |||||
Balance | 812,164 | 780,376 | [1] | |||
Total allowance for loan losses | 7,609 | 7,609 | 10,115 | 7,609 | ||
Loans receivable, gross: Individually evaluated for impairment | 21,218 | |||||
PCI loans individually evaluated for impairment | 615 | |||||
Loans receivable, gross: Collectively evaluated for impairment | 758,543 | |||||
Total loans receivable, gross | 812,164 | 780,376 | [1] | |||
Commercial Real Estate Portfolio Segment [Member] | ||||||
Balance | 1,866 | 2,212 | 1,853 | |||
Charge-offs | 0 | 0 | ||||
Recoveries | 2 | 7 | 10 | |||
Provisions (credits) | 1,921 | (353) | 349 | |||
Balance | 3,789 | 1,866 | 2,212 | |||
Individually evaluated for impairment | 1,496 | |||||
Collectively evaluated for impairment | 2,293 | |||||
Total allowance for loan and lease losses | 3,789 | 2,212 | 1,853 | 3,789 | 1,866 | |
Individually evaluated for impairment | 13,034 | |||||
PCI loans individually evaluated for impairment | ||||||
Collectively evaluated for impairment | 301,380 | |||||
Balance | 314,414 | |||||
Total allowance for loan losses | 3,789 | 2,212 | 1,853 | 3,789 | 1,866 | |
Loans receivable, gross: Individually evaluated for impairment | 13,034 | |||||
PCI loans individually evaluated for impairment | ||||||
Loans receivable, gross: Collectively evaluated for impairment | 301,380 | |||||
Total loans receivable, gross | 314,414 | |||||
Commercial Real Estate Portfolio Segment [Member] | Business Activities Loans [Member] | ||||||
Balance | 1,866 | |||||
Balance | 1,866 | |||||
Individually evaluated for impairment | 0 | |||||
Collectively evaluated for impairment | 1,866 | |||||
Total allowance for loan and lease losses | 1,866 | 1,866 | 1,866 | |||
Individually evaluated for impairment | 4,606 | |||||
PCI loans individually evaluated for impairment | ||||||
Collectively evaluated for impairment | 270,332 | |||||
Balance | 314,414 | 274,938 | ||||
Total allowance for loan losses | 1,866 | 1,866 | 1,866 | |||
Loans receivable, gross: Individually evaluated for impairment | 4,606 | |||||
PCI loans individually evaluated for impairment | ||||||
Loans receivable, gross: Collectively evaluated for impairment | 270,332 | |||||
Total loans receivable, gross | 314,414 | 274,938 | ||||
Residential Portfolio Segment [Member] | ||||||
Balance | 1,059 | 959 | 534 | |||
Charge-offs | (118) | (2) | ||||
Recoveries | 10 | 2 | ||||
Provisions (credits) | 87 | 100 | 425 | |||
Balance | 1,038 | 1,059 | 959 | |||
Individually evaluated for impairment | ||||||
Collectively evaluated for impairment | 1,038 | |||||
Total allowance for loan and lease losses | 1,038 | 959 | 534 | 1,038 | 1,059 | |
Individually evaluated for impairment | 3,621 | |||||
PCI loans individually evaluated for impairment | ||||||
Collectively evaluated for impairment | 171,868 | |||||
Balance | 175,489 | |||||
Total allowance for loan losses | 1,038 | 959 | 534 | 1,038 | 1,059 | |
Loans receivable, gross: Individually evaluated for impairment | 3,621 | |||||
PCI loans individually evaluated for impairment | ||||||
Loans receivable, gross: Collectively evaluated for impairment | 171,868 | |||||
Total loans receivable, gross | 175,489 | |||||
Residential Portfolio Segment [Member] | Business Activities Loans [Member] | ||||||
Balance | 1,059 | |||||
Balance | 1,059 | |||||
Individually evaluated for impairment | 216 | |||||
Collectively evaluated for impairment | 843 | |||||
Total allowance for loan and lease losses | 1,059 | 1,059 | 1,059 | |||
Individually evaluated for impairment | 2,302 | |||||
PCI loans individually evaluated for impairment | ||||||
Collectively evaluated for impairment | 154,998 | |||||
Balance | 175,489 | 157,300 | ||||
Total allowance for loan losses | 1,059 | 1,059 | 1,059 | |||
Loans receivable, gross: Individually evaluated for impairment | 2,302 | |||||
PCI loans individually evaluated for impairment | ||||||
Loans receivable, gross: Collectively evaluated for impairment | 154,998 | |||||
Total loans receivable, gross | 175,489 | 157,300 | ||||
Commercial Portfolio Segment [Member] | ||||||
Balance | 3,558 | 2,023 | 740 | |||
Charge-offs | (2,418) | (265) | ||||
Recoveries | 172 | 34 | 2,769 | |||
Provisions (credits) | 3,028 | 1,501 | (1,221) | |||
Balance | 4,340 | 3,558 | 2,023 | |||
Individually evaluated for impairment | ||||||
Collectively evaluated for impairment | 4,340 | |||||
Total allowance for loan and lease losses | 4,340 | 2,023 | 740 | 4,340 | 3,558 | |
Individually evaluated for impairment | 2,057 | |||||
PCI loans individually evaluated for impairment | 176 | |||||
Collectively evaluated for impairment | 171,642 | |||||
Balance | 173,875 | |||||
Total allowance for loan losses | 4,340 | 2,023 | 740 | 4,340 | 3,558 | |
Loans receivable, gross: Individually evaluated for impairment | 2,057 | |||||
PCI loans individually evaluated for impairment | 176 | |||||
Loans receivable, gross: Collectively evaluated for impairment | 171,642 | |||||
Total loans receivable, gross | 173,875 | |||||
Commercial Portfolio Segment [Member] | Business Activities Loans [Member] | ||||||
Balance | 3,558 | |||||
Balance | 3,558 | |||||
Individually evaluated for impairment | 1,299 | |||||
Collectively evaluated for impairment | 2,259 | |||||
Total allowance for loan and lease losses | 3,558 | 3,558 | 3,558 | |||
Individually evaluated for impairment | 4,646 | |||||
PCI loans individually evaluated for impairment | 615 | |||||
Collectively evaluated for impairment | 186,591 | |||||
Balance | 173,875 | 191,852 | ||||
Total allowance for loan losses | 3,558 | 3,558 | 3,558 | |||
Loans receivable, gross: Individually evaluated for impairment | 4,646 | |||||
PCI loans individually evaluated for impairment | 615 | |||||
Loans receivable, gross: Collectively evaluated for impairment | 186,591 | |||||
Total loans receivable, gross | 173,875 | 191,852 | ||||
Consumer Portfolio Segment [Member] | ||||||
Balance | 641 | 568 | 641 | |||
Charge-offs | (123) | (33) | (39) | |||
Recoveries | 10 | 1 | 4 | |||
Provisions (credits) | (187) | 105 | (38) | |||
Balance | 341 | 641 | 568 | |||
Individually evaluated for impairment | ||||||
Collectively evaluated for impairment | 341 | |||||
Total allowance for loan and lease losses | 341 | 568 | 641 | 341 | 641 | |
Individually evaluated for impairment | 916 | |||||
PCI loans individually evaluated for impairment | ||||||
Collectively evaluated for impairment | 85,018 | |||||
Balance | 85,934 | |||||
Total allowance for loan losses | 341 | 568 | 641 | 341 | 641 | |
Loans receivable, gross: Individually evaluated for impairment | 916 | |||||
PCI loans individually evaluated for impairment | ||||||
Loans receivable, gross: Collectively evaluated for impairment | 85,018 | |||||
Total loans receivable, gross | 85,934 | |||||
Consumer Portfolio Segment [Member] | Business Activities Loans [Member] | ||||||
Balance | 641 | |||||
Balance | 641 | |||||
Individually evaluated for impairment | 30 | |||||
Collectively evaluated for impairment | 611 | |||||
Total allowance for loan and lease losses | 641 | 641 | 641 | |||
Individually evaluated for impairment | 864 | |||||
PCI loans individually evaluated for impairment | ||||||
Collectively evaluated for impairment | 93,705 | |||||
Balance | 85,934 | 94,569 | ||||
Total allowance for loan losses | 641 | 641 | 641 | |||
Loans receivable, gross: Individually evaluated for impairment | 864 | |||||
PCI loans individually evaluated for impairment | ||||||
Loans receivable, gross: Collectively evaluated for impairment | 93,705 | |||||
Total loans receivable, gross | 85,934 | 94,569 | ||||
Construction Portfolio Segment [Member] | ||||||
Balance | 350 | 481 | 712 | |||
Charge-offs | 0 | 0 | ||||
Recoveries | 0 | 0 | ||||
Provisions (credits) | 127 | (131) | (231) | |||
Balance | 477 | 350 | 481 | |||
Individually evaluated for impairment | ||||||
Collectively evaluated for impairment | 477 | |||||
Total allowance for loan and lease losses | 477 | 481 | 712 | 477 | 350 | |
Individually evaluated for impairment | 0 | |||||
PCI loans individually evaluated for impairment | 0 | |||||
Collectively evaluated for impairment | 48,388 | |||||
Balance | 48,388 | |||||
Total allowance for loan losses | 477 | 481 | 712 | 477 | 350 | |
Loans receivable, gross: Individually evaluated for impairment | 0 | |||||
PCI loans individually evaluated for impairment | 0 | |||||
Loans receivable, gross: Collectively evaluated for impairment | 48,388 | |||||
Total loans receivable, gross | 48,388 | |||||
Construction Portfolio Segment [Member] | Business Activities Loans [Member] | ||||||
Balance | 350 | |||||
Balance | 350 | |||||
Individually evaluated for impairment | 0 | |||||
Collectively evaluated for impairment | 350 | |||||
Total allowance for loan and lease losses | 350 | 350 | 350 | |||
Individually evaluated for impairment | 8,800 | |||||
PCI loans individually evaluated for impairment | ||||||
Collectively evaluated for impairment | 37,240 | |||||
Balance | 48,388 | 46,040 | ||||
Total allowance for loan losses | 350 | 350 | 350 | |||
Loans receivable, gross: Individually evaluated for impairment | 8,800 | |||||
PCI loans individually evaluated for impairment | ||||||
Loans receivable, gross: Collectively evaluated for impairment | 37,240 | |||||
Total loans receivable, gross | 48,388 | 46,040 | ||||
Construction to Permanent Portfolio Segment [Member] | ||||||
Balance | 108 | 54 | 69 | |||
Charge-offs | 0 | 0 | ||||
Recoveries | 0 | 0 | ||||
Provisions (credits) | 22 | 54 | (15) | |||
Balance | 130 | 108 | 54 | |||
Individually evaluated for impairment | ||||||
Collectively evaluated for impairment | 130 | |||||
Total allowance for loan and lease losses | 130 | 54 | 69 | 130 | 108 | |
Individually evaluated for impairment | 0 | |||||
PCI loans individually evaluated for impairment | 0 | |||||
Collectively evaluated for impairment | 14,064 | |||||
Balance | 14,064 | |||||
Total allowance for loan losses | 130 | 54 | 69 | 130 | 108 | |
Loans receivable, gross: Individually evaluated for impairment | 0 | |||||
PCI loans individually evaluated for impairment | 0 | |||||
Loans receivable, gross: Collectively evaluated for impairment | 14,064 | |||||
Total loans receivable, gross | 14,064 | |||||
Construction to Permanent Portfolio Segment [Member] | Business Activities Loans [Member] | ||||||
Balance | 108 | |||||
Balance | 108 | |||||
Individually evaluated for impairment | 0 | |||||
Collectively evaluated for impairment | 108 | |||||
Total allowance for loan and lease losses | 108 | 108 | 108 | |||
Individually evaluated for impairment | 0 | |||||
PCI loans individually evaluated for impairment | ||||||
Collectively evaluated for impairment | 15,677 | |||||
Balance | 14,064 | 15,677 | ||||
Total allowance for loan losses | 108 | 108 | 108 | |||
Loans receivable, gross: Individually evaluated for impairment | 0 | |||||
PCI loans individually evaluated for impairment | ||||||
Loans receivable, gross: Collectively evaluated for impairment | 15,677 | |||||
Total loans receivable, gross | 14,064 | 15,677 | ||||
Unallocated Financing Receivables [Member] | ||||||
Balance | 27 | 126 | ||||
Charge-offs | 0 | 0 | ||||
Recoveries | 0 | 0 | ||||
Provisions (credits) | (27) | 27 | (126) | |||
Balance | 27 | |||||
Individually evaluated for impairment | ||||||
Collectively evaluated for impairment | 0 | |||||
Total allowance for loan and lease losses | 126 | 27 | ||||
Individually evaluated for impairment | 0 | |||||
PCI loans individually evaluated for impairment | 0 | |||||
Collectively evaluated for impairment | ||||||
Balance | ||||||
Total allowance for loan losses | $ 126 | 27 | ||||
Loans receivable, gross: Individually evaluated for impairment | 0 | |||||
PCI loans individually evaluated for impairment | 0 | |||||
Loans receivable, gross: Collectively evaluated for impairment | ||||||
Total loans receivable, gross | ||||||
Unallocated Financing Receivables [Member] | Business Activities Loans [Member] | ||||||
Balance | 27 | |||||
Balance | 27 | |||||
Individually evaluated for impairment | 0 | |||||
Collectively evaluated for impairment | 27 | |||||
Total allowance for loan and lease losses | 27 | 27 | 27 | |||
Individually evaluated for impairment | 0 | |||||
PCI loans individually evaluated for impairment | ||||||
Collectively evaluated for impairment | ||||||
Balance | ||||||
Total allowance for loan losses | $ 27 | $ 27 | 27 | |||
Loans receivable, gross: Individually evaluated for impairment | 0 | |||||
PCI loans individually evaluated for impairment | ||||||
Loans receivable, gross: Collectively evaluated for impairment | ||||||
Total loans receivable, gross | ||||||
[1] |
Note 4 - Loan Receivable and _7
Note 4 - Loan Receivable and Allowance for Loan and Lease Losses - Delinquency Status of Performing and Non-performing Loans (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 | |
Loans receivable, gross | $ 812,164 | ||
Business Activities Loans [Member] | |||
Loans receivable, gross | 812,164 | $ 780,376 | [1] |
Non-accruing loans | 18,049 | 19,186 | |
Commercial Real Estate Portfolio Segment [Member] | |||
Loans receivable, gross | 314,414 | ||
Commercial Real Estate Portfolio Segment [Member] | Business Activities Loans [Member] | |||
Loans receivable, gross | 314,414 | 274,938 | |
Non-accruing loans | 11,961 | 3,525 | |
Residential Portfolio Segment [Member] | |||
Loans receivable, gross | 175,489 | ||
Residential Portfolio Segment [Member] | Business Activities Loans [Member] | |||
Loans receivable, gross | 175,489 | 157,300 | |
Non-accruing loans | 3,228 | 2,006 | |
Commercial Portfolio Segment [Member] | |||
Loans receivable, gross | 173,875 | ||
Commercial Portfolio Segment [Member] | Business Activities Loans [Member] | |||
Loans receivable, gross | 173,875 | 191,852 | |
Non-accruing loans | 2,094 | 4,681 | |
Consumer Portfolio Segment [Member] | |||
Loans receivable, gross | 85,934 | ||
Consumer Portfolio Segment [Member] | Business Activities Loans [Member] | |||
Loans receivable, gross | 85,934 | 94,569 | |
Non-accruing loans | 766 | 174 | |
Construction Portfolio Segment [Member] | |||
Loans receivable, gross | 48,388 | ||
Construction Portfolio Segment [Member] | Business Activities Loans [Member] | |||
Loans receivable, gross | 48,388 | 46,040 | |
Non-accruing loans | 8,800 | ||
Construction to Permanent Portfolio Segment [Member] | |||
Loans receivable, gross | 14,064 | ||
Construction to Permanent Portfolio Segment [Member] | Business Activities Loans [Member] | |||
Loans receivable, gross | 14,064 | 15,677 | |
Non-accruing loans | |||
Pass [Member] | Business Activities Loans [Member] | |||
Loans receivable, gross | 777,551 | 744,663 | |
Non-accruing loans | |||
Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | Business Activities Loans [Member] | |||
Loans receivable, gross | 295,982 | 262,858 | |
Non-accruing loans | |||
Pass [Member] | Residential Portfolio Segment [Member] | Business Activities Loans [Member] | |||
Loans receivable, gross | 170,561 | 152,963 | |
Non-accruing loans | |||
Pass [Member] | Commercial Portfolio Segment [Member] | Business Activities Loans [Member] | |||
Loans receivable, gross | 163,388 | 181,530 | |
Non-accruing loans | |||
Pass [Member] | Consumer Portfolio Segment [Member] | Business Activities Loans [Member] | |||
Loans receivable, gross | 85,168 | 94,395 | |
Non-accruing loans | |||
Pass [Member] | Construction Portfolio Segment [Member] | Business Activities Loans [Member] | |||
Loans receivable, gross | 48,388 | 37,240 | |
Non-accruing loans | |||
Pass [Member] | Construction to Permanent Portfolio Segment [Member] | Business Activities Loans [Member] | |||
Loans receivable, gross | 14,064 | 15,677 | |
Non-accruing loans | |||
Special Mention [Member] | Business Activities Loans [Member] | |||
Loans receivable, gross | 836 | 6,960 | |
Non-accruing loans | |||
Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | Business Activities Loans [Member] | |||
Loans receivable, gross | 385 | 3,631 | |
Non-accruing loans | |||
Special Mention [Member] | Residential Portfolio Segment [Member] | Business Activities Loans [Member] | |||
Loans receivable, gross | 850 | ||
Non-accruing loans | |||
Special Mention [Member] | Commercial and Industrial Portfolio Segment [Member] | Business Activities Loans [Member] | |||
Loans receivable, gross | 451 | 2,479 | |
Non-accruing loans | |||
Substandard [Member] | Business Activities Loans [Member] | |||
Loans receivable, gross | 33,777 | 28,753 | |
Non-accruing loans | 18,049 | 19,186 | |
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | Business Activities Loans [Member] | |||
Loans receivable, gross | 18,047 | 8,449 | |
Non-accruing loans | 11,961 | 3,525 | |
Substandard [Member] | Residential Portfolio Segment [Member] | Business Activities Loans [Member] | |||
Loans receivable, gross | 4,928 | 3,487 | |
Non-accruing loans | 3,228 | 2,006 | |
Substandard [Member] | Commercial Portfolio Segment [Member] | Business Activities Loans [Member] | |||
Loans receivable, gross | 10,036 | 7,843 | |
Non-accruing loans | 2,094 | 4,681 | |
Substandard [Member] | Consumer Portfolio Segment [Member] | Business Activities Loans [Member] | |||
Loans receivable, gross | 766 | 174 | |
Non-accruing loans | 766 | 174 | |
Substandard [Member] | Construction Portfolio Segment [Member] | Business Activities Loans [Member] | |||
Loans receivable, gross | 8,800 | ||
Non-accruing loans | 8,800 | ||
Performing Financial Instruments [Member] | Business Activities Loans [Member] | |||
Performing (accruing) loans, past due | 4,441 | 5,386 | |
Performing (accruing) loans, current | 789,674 | 755,804 | |
Loans receivable, gross | 794,115 | 761,190 | |
Performing Financial Instruments [Member] | Commercial Real Estate Portfolio Segment [Member] | Business Activities Loans [Member] | |||
Performing (accruing) loans, past due | 1,551 | ||
Performing (accruing) loans, current | 302,453 | 269,862 | |
Loans receivable, gross | 302,453 | 271,413 | |
Performing Financial Instruments [Member] | Residential Portfolio Segment [Member] | Business Activities Loans [Member] | |||
Performing (accruing) loans, past due | 658 | 1,454 | |
Performing (accruing) loans, current | 171,603 | 153,840 | |
Loans receivable, gross | 172,261 | 155,294 | |
Performing Financial Instruments [Member] | Commercial Portfolio Segment [Member] | Business Activities Loans [Member] | |||
Performing (accruing) loans, past due | 956 | 1,338 | |
Performing (accruing) loans, current | 170,825 | 185,833 | |
Loans receivable, gross | 171,781 | 187,171 | |
Performing Financial Instruments [Member] | Consumer Portfolio Segment [Member] | Business Activities Loans [Member] | |||
Performing (accruing) loans, past due | 2,827 | 43 | |
Performing (accruing) loans, current | 82,341 | 94,352 | |
Loans receivable, gross | 85,168 | 94,395 | |
Performing Financial Instruments [Member] | Construction Portfolio Segment [Member] | Business Activities Loans [Member] | |||
Performing (accruing) loans, past due | 1,000 | ||
Performing (accruing) loans, current | 48,388 | 36,240 | |
Loans receivable, gross | 48,388 | 37,240 | |
Performing Financial Instruments [Member] | Construction to Permanent Portfolio Segment [Member] | Business Activities Loans [Member] | |||
Performing (accruing) loans, past due | |||
Performing (accruing) loans, current | 14,064 | 15,677 | |
Loans receivable, gross | 14,064 | 15,677 | |
Performing Financial Instruments [Member] | Pass [Member] | Business Activities Loans [Member] | |||
Performing (accruing) loans, past due | 4,162 | 4,157 | |
Performing (accruing) loans, current | 773,389 | 740,506 | |
Loans receivable, gross | 777,551 | 744,663 | |
Performing Financial Instruments [Member] | Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | Business Activities Loans [Member] | |||
Performing (accruing) loans, past due | 423 | ||
Performing (accruing) loans, current | 295,982 | 262,435 | |
Loans receivable, gross | 295,982 | 262,858 | |
Performing Financial Instruments [Member] | Pass [Member] | Residential Portfolio Segment [Member] | Business Activities Loans [Member] | |||
Performing (accruing) loans, past due | 658 | 1,454 | |
Performing (accruing) loans, current | 169,903 | 151,509 | |
Loans receivable, gross | 170,561 | 152,963 | |
Performing Financial Instruments [Member] | Pass [Member] | Commercial Portfolio Segment [Member] | Business Activities Loans [Member] | |||
Performing (accruing) loans, past due | 677 | 1,237 | |
Performing (accruing) loans, current | 162,711 | 180,293 | |
Loans receivable, gross | 163,388 | 181,530 | |
Performing Financial Instruments [Member] | Pass [Member] | Consumer Portfolio Segment [Member] | Business Activities Loans [Member] | |||
Performing (accruing) loans, past due | 2,827 | 43 | |
Performing (accruing) loans, current | 82,341 | 94,352 | |
Loans receivable, gross | 85,168 | 94,395 | |
Performing Financial Instruments [Member] | Pass [Member] | Construction Portfolio Segment [Member] | Business Activities Loans [Member] | |||
Performing (accruing) loans, past due | 1,000 | ||
Performing (accruing) loans, current | 48,388 | 36,240 | |
Loans receivable, gross | 48,388 | 37,240 | |
Performing Financial Instruments [Member] | Pass [Member] | Construction to Permanent Portfolio Segment [Member] | Business Activities Loans [Member] | |||
Performing (accruing) loans, past due | |||
Performing (accruing) loans, current | 14,064 | 15,677 | |
Loans receivable, gross | 14,064 | 15,677 | |
Performing Financial Instruments [Member] | Special Mention [Member] | Business Activities Loans [Member] | |||
Performing (accruing) loans, past due | 279 | 1,059 | |
Performing (accruing) loans, current | 557 | 5,901 | |
Loans receivable, gross | 836 | 6,960 | |
Performing Financial Instruments [Member] | Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | Business Activities Loans [Member] | |||
Performing (accruing) loans, past due | 958 | ||
Performing (accruing) loans, current | 385 | 2,673 | |
Loans receivable, gross | 385 | 3,631 | |
Performing Financial Instruments [Member] | Special Mention [Member] | Residential Portfolio Segment [Member] | Business Activities Loans [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] | Business Activities Loans [Member] | |||
Performing (accruing) loans, past due | 279 | 101 | |
Performing (accruing) loans, current | 172 | 2,378 | |
Loans receivable, gross | 451 | 2,479 | |
Performing Financial Instruments [Member] | Substandard [Member] | Business Activities Loans [Member] | |||
Performing (accruing) loans, past due | 170 | ||
Performing (accruing) loans, current | 15,728 | 9,397 | |
Loans receivable, gross | 15,728 | 9,567 | |
Performing Financial Instruments [Member] | Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | Business Activities Loans [Member] | |||
Performing (accruing) loans, past due | 170 | ||
Performing (accruing) loans, current | 6,086 | 4,754 | |
Loans receivable, gross | 6,086 | 4,924 | |
Performing Financial Instruments [Member] | Substandard [Member] | Residential Portfolio Segment [Member] | Business Activities Loans [Member] | |||
Performing (accruing) loans, past due | |||
Performing (accruing) loans, current | 1,700 | 1,481 | |
Loans receivable, gross | 1,700 | 1,481 | |
Performing Financial Instruments [Member] | Substandard [Member] | Commercial Portfolio Segment [Member] | Business Activities Loans [Member] | |||
Performing (accruing) loans, past due | |||
Performing (accruing) loans, current | 7,942 | 3,162 | |
Loans receivable, gross | 7,942 | 3,162 | |
Performing Financial Instruments [Member] | Substandard [Member] | Consumer Portfolio Segment [Member] | Business Activities Loans [Member] | |||
Performing (accruing) loans, past due | |||
Performing (accruing) loans, current | |||
Loans receivable, gross | |||
Performing Financial Instruments [Member] | Substandard [Member] | Construction Portfolio Segment [Member] | Business Activities Loans [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] | Business Activities Loans [Member] | |||
Performing (accruing) loans, past due | 4,069 | 1,400 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Performing Financial Instruments [Member] | Commercial Real Estate Portfolio Segment [Member] | Business Activities Loans [Member] | |||
Performing (accruing) loans, past due | 593 | ||
Financial Asset, 30 to 59 Days Past Due [Member] | Performing Financial Instruments [Member] | Residential Portfolio Segment [Member] | Business Activities Loans [Member] | |||
Performing (accruing) loans, past due | 658 | 637 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Performing Financial Instruments [Member] | Commercial Portfolio Segment [Member] | Business Activities Loans [Member] | |||
Performing (accruing) loans, past due | 606 | 150 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Performing Financial Instruments [Member] | Consumer Portfolio Segment [Member] | Business Activities Loans [Member] | |||
Performing (accruing) loans, past due | 2,805 | 20 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Performing Financial Instruments [Member] | Construction Portfolio Segment [Member] | Business Activities Loans [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] | Business Activities Loans [Member] | |||
Performing (accruing) loans, past due | |||
Financial Asset, 30 to 59 Days Past Due [Member] | Performing Financial Instruments [Member] | Pass [Member] | Business Activities Loans [Member] | |||
Performing (accruing) loans, past due | 3,790 | 1,230 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Performing Financial Instruments [Member] | Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | Business Activities Loans [Member] | |||
Performing (accruing) loans, past due | 423 | ||
Financial Asset, 30 to 59 Days Past Due [Member] | Performing Financial Instruments [Member] | Pass [Member] | Residential Portfolio Segment [Member] | Business Activities Loans [Member] | |||
Performing (accruing) loans, past due | 658 | 637 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Performing Financial Instruments [Member] | Pass [Member] | Commercial Portfolio Segment [Member] | Business Activities Loans [Member] | |||
Performing (accruing) loans, past due | 327 | 150 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Performing Financial Instruments [Member] | Pass [Member] | Consumer Portfolio Segment [Member] | Business Activities Loans [Member] | |||
Performing (accruing) loans, past due | 2,805 | 20 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Performing Financial Instruments [Member] | Pass [Member] | Construction Portfolio Segment [Member] | Business Activities Loans [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] | Business Activities Loans [Member] | |||
Performing (accruing) loans, past due | |||
Financial Asset, 30 to 59 Days Past Due [Member] | Performing Financial Instruments [Member] | Special Mention [Member] | Business Activities Loans [Member] | |||
Performing (accruing) loans, past due | 279 | ||
Financial Asset, 30 to 59 Days Past Due [Member] | Performing Financial Instruments [Member] | Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | Business Activities Loans [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] | Business Activities Loans [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] | Business Activities Loans [Member] | |||
Performing (accruing) loans, past due | 279 | ||
Financial Asset, 30 to 59 Days Past Due [Member] | Performing Financial Instruments [Member] | Substandard [Member] | Business Activities Loans [Member] | |||
Performing (accruing) loans, past due | 170 | ||
Financial Asset, 30 to 59 Days Past Due [Member] | Performing Financial Instruments [Member] | Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | Business Activities Loans [Member] | |||
Performing (accruing) loans, past due | 170 | ||
Financial Asset, 30 to 59 Days Past Due [Member] | Performing Financial Instruments [Member] | Substandard [Member] | Residential Portfolio Segment [Member] | Business Activities Loans [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] | Business Activities Loans [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] | Business Activities Loans [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] | Business Activities Loans [Member] | |||
Performing (accruing) loans, past due | |||
Financial Asset, 60 to 89 Days Past Due [Member] | Performing Financial Instruments [Member] | Business Activities Loans [Member] | |||
Performing (accruing) loans, past due | 353 | 2,670 | |
Financial Asset, 60 to 89 Days Past Due [Member] | Performing Financial Instruments [Member] | Commercial Real Estate Portfolio Segment [Member] | Business Activities Loans [Member] | |||
Performing (accruing) loans, past due | |||
Financial Asset, 60 to 89 Days Past Due [Member] | Performing Financial Instruments [Member] | Residential Portfolio Segment [Member] | Business Activities Loans [Member] | |||
Performing (accruing) loans, past due | 817 | ||
Financial Asset, 60 to 89 Days Past Due [Member] | Performing Financial Instruments [Member] | Commercial Portfolio Segment [Member] | Business Activities Loans [Member] | |||
Performing (accruing) loans, past due | 853 | ||
Financial Asset, 60 to 89 Days Past Due [Member] | Performing Financial Instruments [Member] | Consumer Portfolio Segment [Member] | Business Activities Loans [Member] | |||
Performing (accruing) loans, past due | 3 | ||
Financial Asset, 60 to 89 Days Past Due [Member] | Performing Financial Instruments [Member] | Construction Portfolio Segment [Member] | Business Activities Loans [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] | Business Activities Loans [Member] | |||
Performing (accruing) loans, past due | |||
Financial Asset, 60 to 89 Days Past Due [Member] | Performing Financial Instruments [Member] | Pass [Member] | Business Activities Loans [Member] | |||
Performing (accruing) loans, past due | 353 | 2,670 | |
Financial Asset, 60 to 89 Days Past Due [Member] | Performing Financial Instruments [Member] | Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | Business Activities Loans [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] | Business Activities Loans [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] | Business Activities Loans [Member] | |||
Performing (accruing) loans, past due | 350 | 853 | |
Financial Asset, 60 to 89 Days Past Due [Member] | Performing Financial Instruments [Member] | Pass [Member] | Consumer Portfolio Segment [Member] | Business Activities Loans [Member] | |||
Performing (accruing) loans, past due | 3 | ||
Financial Asset, 60 to 89 Days Past Due [Member] | Performing Financial Instruments [Member] | Pass [Member] | Construction Portfolio Segment [Member] | Business Activities Loans [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] | Business Activities Loans [Member] | |||
Performing (accruing) loans, past due | |||
Financial Asset, 60 to 89 Days Past Due [Member] | Performing Financial Instruments [Member] | Special Mention [Member] | Business Activities Loans [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] | Business Activities Loans [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] | Business Activities Loans [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] | Business Activities Loans [Member] | |||
Performing (accruing) loans, past due | |||
Financial Asset, 60 to 89 Days Past Due [Member] | Performing Financial Instruments [Member] | Substandard [Member] | Business Activities Loans [Member] | |||
Performing (accruing) loans, past due | |||
Financial Asset, 60 to 89 Days Past Due [Member] | Performing Financial Instruments [Member] | Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | Business Activities Loans [Member] | |||
Performing (accruing) loans, past due | |||
Financial Asset, 60 to 89 Days Past Due [Member] | Performing Financial Instruments [Member] | Substandard [Member] | Residential Portfolio Segment [Member] | Business Activities Loans [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] | Business Activities Loans [Member] | |||
Performing (accruing) loans, past due | |||
Financial Asset, 60 to 89 Days Past Due [Member] | Performing Financial Instruments [Member] | Substandard [Member] | Consumer Portfolio Segment [Member] | Business Activities Loans [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] | Business Activities Loans [Member] | |||
Performing (accruing) loans, past due | |||
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Performing Financial Instruments [Member] | Business Activities Loans [Member] | |||
Performing (accruing) loans, past due | 19 | 1,316 | |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Performing Financial Instruments [Member] | Commercial Real Estate Portfolio Segment [Member] | Business Activities Loans [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] | Business Activities Loans [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] | Business Activities Loans [Member] | |||
Performing (accruing) loans, past due | 335 | ||
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Performing Financial Instruments [Member] | Consumer Portfolio Segment [Member] | Business Activities Loans [Member] | |||
Performing (accruing) loans, past due | 19 | 23 | |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Performing Financial Instruments [Member] | Construction Portfolio Segment [Member] | Business Activities Loans [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] | Business Activities Loans [Member] | |||
Performing (accruing) loans, past due | |||
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Performing Financial Instruments [Member] | Pass [Member] | Business Activities Loans [Member] | |||
Performing (accruing) loans, past due | 19 | 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] | Business Activities Loans [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] | Business Activities Loans [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] | Business Activities Loans [Member] | |||
Performing (accruing) loans, past due | 234 | ||
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Performing Financial Instruments [Member] | Pass [Member] | Consumer Portfolio Segment [Member] | Business Activities Loans [Member] | |||
Performing (accruing) loans, past due | 19 | 23 | |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Performing Financial Instruments [Member] | Pass [Member] | Construction Portfolio Segment [Member] | Business Activities Loans [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] | Business Activities Loans [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] | Business Activities Loans [Member] | |||
Performing (accruing) loans, past due | 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] | Business Activities Loans [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] | Business Activities Loans [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] | Business Activities Loans [Member] | |||
Performing (accruing) loans, past due | 101 | ||
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Performing Financial Instruments [Member] | Substandard [Member] | Business Activities Loans [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] | Business Activities Loans [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] | Business Activities Loans [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] | Business Activities Loans [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] | Business Activities Loans [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] | Business Activities Loans [Member] | |||
Performing (accruing) loans, past due | |||
[1] |
Note 4 - Loan Receivable and _8
Note 4 - Loan Receivable and Allowance for Loan and Lease Losses - Non-accrual Loans (Details) - Business Activities Loans [Member] - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Non-accruing loans | $ 18,049 | $ 19,186 |
Performing Financial Instruments [Member] | ||
Performing (accruing) loans, past due | 4,441 | 5,386 |
Performing (accruing) loans, current | 789,674 | 755,804 |
Commercial Real Estate Portfolio Segment [Member] | ||
Non-accruing loans | 11,961 | 3,525 |
Commercial Real Estate Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Performing (accruing) loans, past due | 1,551 | |
Performing (accruing) loans, current | 302,453 | 269,862 |
Residential Portfolio Segment [Member] | ||
Non-accruing loans | 3,228 | 2,006 |
Residential Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Performing (accruing) loans, past due | 658 | 1,454 |
Performing (accruing) loans, current | 171,603 | 153,840 |
Commercial Portfolio Segment [Member] | ||
Non-accruing loans | 2,094 | 4,681 |
Commercial Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Performing (accruing) loans, past due | 956 | 1,338 |
Performing (accruing) loans, current | 170,825 | 185,833 |
Consumer Portfolio Segment [Member] | ||
Non-accruing loans | 766 | 174 |
Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Performing (accruing) loans, past due | 2,827 | 43 |
Performing (accruing) loans, current | 82,341 | 94,352 |
Construction Portfolio Segment [Member] | ||
Non-accruing loans | 8,800 | |
Construction Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Performing (accruing) loans, past due | 1,000 | |
Performing (accruing) loans, current | 48,388 | 36,240 |
Non-Accrual Loans [Member] | ||
Performing (accruing) loans, past due | 5,381 | 18,384 |
Performing (accruing) loans, current | 12,668 | 802 |
Substandard [Member] | ||
Non-accruing loans | 18,049 | 19,186 |
Substandard [Member] | Performing Financial Instruments [Member] | ||
Performing (accruing) loans, past due | 170 | |
Performing (accruing) loans, current | 15,728 | 9,397 |
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Non-accruing loans | 11,961 | 3,525 |
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Performing (accruing) loans, past due | 170 | |
Performing (accruing) loans, current | 6,086 | 4,754 |
Substandard [Member] | Residential Portfolio Segment [Member] | ||
Non-accruing loans | 3,228 | 2,006 |
Substandard [Member] | Residential Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Performing (accruing) loans, past due | ||
Performing (accruing) loans, current | 1,700 | 1,481 |
Substandard [Member] | Commercial Portfolio Segment [Member] | ||
Non-accruing loans | 2,094 | 4,681 |
Substandard [Member] | Commercial Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Performing (accruing) loans, past due | ||
Performing (accruing) loans, current | 7,942 | 3,162 |
Substandard [Member] | Consumer Portfolio Segment [Member] | ||
Non-accruing loans | 766 | 174 |
Substandard [Member] | Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Performing (accruing) loans, past due | ||
Performing (accruing) loans, current | ||
Substandard [Member] | Construction Portfolio Segment [Member] | ||
Non-accruing loans | 8,800 | |
Substandard [Member] | Construction Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Performing (accruing) loans, past due | ||
Performing (accruing) loans, current | ||
Substandard [Member] | Non-Accrual Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | 1,636 | 3,525 |
Performing (accruing) loans, current | 10,325 | |
Substandard [Member] | Non-Accrual Loans [Member] | Residential Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | 1,872 | 2,006 |
Performing (accruing) loans, current | 1,356 | |
Substandard [Member] | Non-Accrual Loans [Member] | Commercial Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | 1,724 | 3,956 |
Performing (accruing) loans, current | 370 | 725 |
Non-accruing loans | 4,681 | |
Substandard [Member] | Non-Accrual Loans [Member] | Commercial Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Performing (accruing) loans, past due | ||
Substandard [Member] | Non-Accrual Loans [Member] | Consumer Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | 149 | 97 |
Performing (accruing) loans, current | 617 | 77 |
Substandard [Member] | Non-Accrual Loans [Member] | Construction Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | 8,800 | |
Performing (accruing) loans, current | ||
Financial Asset, 30 to 59 Days Past Due [Member] | Performing Financial Instruments [Member] | ||
Performing (accruing) loans, past due | 4,069 | 1,400 |
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Performing (accruing) loans, past due | 593 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Residential Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Performing (accruing) loans, past due | 658 | 637 |
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Performing (accruing) loans, past due | 606 | 150 |
Financial Asset, 30 to 59 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Performing (accruing) loans, past due | 2,805 | 20 |
Financial Asset, 30 to 59 Days Past Due [Member] | Construction Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Performing (accruing) loans, past due | ||
Financial Asset, 30 to 59 Days Past Due [Member] | Non-Accrual Loans [Member] | ||
Performing (accruing) loans, past due | 1,580 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Substandard [Member] | Performing Financial Instruments [Member] | ||
Performing (accruing) loans, past due | 170 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Performing (accruing) loans, past due | 170 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Substandard [Member] | Residential Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Performing (accruing) loans, past due | ||
Financial Asset, 30 to 59 Days Past Due [Member] | Substandard [Member] | Commercial Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Performing (accruing) loans, past due | ||
Financial Asset, 30 to 59 Days Past Due [Member] | Substandard [Member] | Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Performing (accruing) loans, past due | ||
Financial Asset, 30 to 59 Days Past Due [Member] | Substandard [Member] | Construction Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Performing (accruing) loans, past due | ||
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 | 0 | |
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, 60 to 89 Days Past Due [Member] | Performing Financial Instruments [Member] | ||
Performing (accruing) loans, past due | 353 | 2,670 |
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Performing (accruing) loans, past due | ||
Financial Asset, 60 to 89 Days Past Due [Member] | Residential Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Performing (accruing) loans, past due | 817 | |
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Performing (accruing) loans, past due | 853 | |
Financial Asset, 60 to 89 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Performing (accruing) loans, past due | 3 | |
Financial Asset, 60 to 89 Days Past Due [Member] | Construction Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Performing (accruing) loans, past due | 1,000 | |
Financial Asset, 60 to 89 Days Past Due [Member] | Non-Accrual Loans [Member] | ||
Performing (accruing) loans, past due | 101 | |
Financial Asset, 60 to 89 Days Past Due [Member] | Substandard [Member] | Performing Financial Instruments [Member] | ||
Performing (accruing) loans, past due | ||
Financial Asset, 60 to 89 Days Past Due [Member] | Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Performing (accruing) loans, past due | ||
Financial Asset, 60 to 89 Days Past Due [Member] | Substandard [Member] | Residential Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Performing (accruing) loans, past due | ||
Financial Asset, 60 to 89 Days Past Due [Member] | Substandard [Member] | Commercial Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Performing (accruing) loans, past due | ||
Financial Asset, 60 to 89 Days Past Due [Member] | Substandard [Member] | Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Performing (accruing) loans, past due | ||
Financial Asset, 60 to 89 Days Past Due [Member] | Substandard [Member] | Construction Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Performing (accruing) loans, past due | ||
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 | 15 | |
Financial Asset, 60 to 89 Days Past Due [Member] | Substandard [Member] | Non-Accrual Loans [Member] | Consumer Portfolio Segment [Member] | ||
Performing (accruing) loans, past due | 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, Equal to or Greater than 90 Days Past Due [Member] | Performing Financial Instruments [Member] | ||
Performing (accruing) loans, past due | 19 | 1,316 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Performing (accruing) loans, past due | 958 | |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Residential Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Performing (accruing) loans, past due | ||
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Performing (accruing) loans, past due | 335 | |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Performing (accruing) loans, past due | 19 | 23 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Construction Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Performing (accruing) loans, past due | ||
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Non-Accrual Loans [Member] | ||
Performing (accruing) loans, past due | 5,381 | 16,703 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Substandard [Member] | Performing Financial Instruments [Member] | ||
Performing (accruing) loans, past due | ||
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Performing (accruing) loans, past due | ||
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Substandard [Member] | Residential Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Performing (accruing) loans, past due | ||
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Substandard [Member] | Commercial Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Performing (accruing) loans, past due | ||
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Substandard [Member] | Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Performing (accruing) loans, past due | ||
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Substandard [Member] | Construction Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Performing (accruing) loans, past due | ||
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 | 1,636 | 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 | 1,872 | 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 | 1,724 | 3,941 |
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 | $ 149 | 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 |
Note 4 - Loan Receivable and _9
Note 4 - Loan Receivable and Allowance for Loan and Lease Losses - Recorded Investment in TDRs (Details) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Dec. 31, 2019USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017 | |
Number of contracts | 6 | 6 | 4 | |
Recorded investment | $ 10,953 | $ 10,953 | $ 2,066 | |
Recorded investment | $ (10,953) | $ (10,953) | $ (2,066) | |
Number of Loans | 1 | 2 | 0 | 0 |
Outstanding Recorded Investment, Pre-Modification | $ 8,912 | |||
Outstanding Recorded Investment, Post-Modification | $ 8,911 | |||
Non-Accrual Loans [Member] | ||||
Number of contracts | 2 | 2 | ||
Recorded investment | $ 9,337 | $ 9,337 | ||
Recorded investment | $ (9,337) | $ (9,337) | ||
Accrual Loans [Member] | ||||
Number of contracts | 4 | 4 | 4 | |
Recorded investment | $ 1,616 | $ 1,616 | $ 2,066 | |
Recorded investment | $ (1,616) | (1,616) | $ (2,066) | |
Payment Deferral [Member] | ||||
Outstanding Recorded Investment, Post-Modification | 111 | |||
Extended Maturity [Member] | ||||
Outstanding Recorded Investment, Post-Modification | $ 8,800 | |||
Commercial Real Estate Portfolio Segment [Member] | ||||
Number of contracts | 2 | 2 | 1 | |
Recorded investment | $ 9,873 | $ 9,873 | $ 1,081 | |
Recorded investment | $ (9,873) | $ (9,873) | $ (1,081) | |
Number of Loans | 2 | |||
Outstanding Recorded Investment, Pre-Modification | $ 8,912 | |||
Outstanding Recorded Investment, Post-Modification | $ 8,911 | |||
Residential Portfolio Segment [Member] | ||||
Number of contracts | 2 | 2 | 1 | |
Recorded investment | $ 393 | $ 393 | $ 296 | |
Recorded investment | $ (393) | $ (393) | $ (296) | |
Consumer Portfolio Segment [Member] | ||||
Number of contracts | 2 | 2 | 2 | |
Recorded investment | $ 687 | $ 687 | $ 689 | |
Recorded investment | $ (687) | $ (687) | $ (689) |
Note 4 - Loan Receivable and_10
Note 4 - Loan Receivable and Allowance for Loan and Lease Losses - Impaired Loans (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Impaired loans, related allowance | $ 1,500,000 | $ 1,500,000 | |
Impaired loans, recorded investment | 19,600,000 | 21,200,000 | |
With no allowance recorded, average recorded investment | 19,123,000 | 9,563,000 | $ 8,638,000 |
With no allowance recorded, interest income recognized | 279,000 | 645,000 | 135,000 |
With allowance recorded, average recorded investment | 3,572,000 | 609,000 | 243,000 |
With allowance recorded, interest income recognized | 415,000 | ||
Impaired Loans, Average recorded investment | 22,695,000 | 10,172,000 | 8,881,000 |
Impaired Loans, interest income recognized | 694,000 | 645,000 | 135,000 |
Business Activities Loans [Member] | |||
Impaired loans with no related allowance recorded, recorded investment | 10,828,000 | 15,391,000 | |
Impaired loans with no related allowance recorded, unpaid principal balance | 10,992,000 | 16,799,000 | |
Impaired loans with a related allowance recorded, recorded investment | 8,800,000 | 5,827,000 | |
Impaired loans with a related allowance recorded, unpaid principal balance | 8,800,000 | 5,877,000 | |
Impaired loans, related allowance | 1,496,000 | 1,545,000 | |
Impaired loans, recorded investment | 19,628,000 | 21,218,000 | |
Impaired loans, unpaid principal balance | 19,792,000 | 22,676,000 | |
Commercial Real Estate Portfolio Segment [Member] | |||
With no allowance recorded, average recorded investment | 9,829,000 | 3,318,000 | 5,832,000 |
With no allowance recorded, interest income recognized | 95,000 | 100,000 | 102,000 |
With allowance recorded, average recorded investment | 888,000 | ||
With allowance recorded, interest income recognized | 415,000 | ||
Impaired Loans, Average recorded investment | 10,717,000 | 3,318,000 | 5,832,000 |
Impaired Loans, interest income recognized | 510,000 | 100,000 | 102,000 |
Commercial Real Estate Portfolio Segment [Member] | Business Activities Loans [Member] | |||
Impaired loans with no related allowance recorded, recorded investment | 4,234,000 | 4,606,000 | |
Impaired loans with no related allowance recorded, unpaid principal balance | 4,309,000 | 5,109,000 | |
Impaired loans with a related allowance recorded, recorded investment | 8,800,000 | ||
Impaired loans with a related allowance recorded, unpaid principal balance | 8,800,000 | ||
Impaired loans, related allowance | 1,496,000 | ||
Impaired loans, recorded investment | 13,034,000 | 4,606,000 | |
Impaired loans, unpaid principal balance | 13,109,000 | 5,109,000 | |
Residential Portfolio Segment [Member] | |||
With no allowance recorded, average recorded investment | 2,531,000 | 3,154,000 | 2,016,000 |
With no allowance recorded, interest income recognized | 104,000 | 11,000 | 11,000 |
With allowance recorded, average recorded investment | 952,000 | 126,000 | |
With allowance recorded, interest income recognized | |||
Impaired Loans, Average recorded investment | 3,483,000 | 3,280,000 | 2,016,000 |
Impaired Loans, interest income recognized | 104,000 | 11,000 | 11,000 |
Residential Portfolio Segment [Member] | Business Activities Loans [Member] | |||
Impaired loans with no related allowance recorded, recorded investment | 3,621,000 | 670,000 | |
Impaired loans with no related allowance recorded, unpaid principal balance | 3,623,000 | 703,000 | |
Impaired loans with a related allowance recorded, recorded investment | 1,632,000 | ||
Impaired loans with a related allowance recorded, unpaid principal balance | 1,632,000 | ||
Impaired loans, related allowance | 216,000 | ||
Impaired loans, recorded investment | 3,621,000 | 2,302,000 | |
Impaired loans, unpaid principal balance | 3,623,000 | 2,335,000 | |
Commercial Portfolio Segment [Member] | |||
With no allowance recorded, average recorded investment | 1,800,000 | 987,000 | 197,000 |
With no allowance recorded, interest income recognized | 45,000 | ||
With allowance recorded, average recorded investment | 1,714,000 | 474,000 | 243,000 |
With allowance recorded, interest income recognized | |||
Impaired Loans, Average recorded investment | 3,514,000 | 1,461,000 | 440,000 |
Impaired Loans, interest income recognized | 45,000 | ||
Commercial Portfolio Segment [Member] | Business Activities Loans [Member] | |||
Impaired loans with no related allowance recorded, recorded investment | 2,057,000 | 488,000 | |
Impaired loans with no related allowance recorded, unpaid principal balance | 2,060,000 | 1,281,000 | |
Impaired loans with a related allowance recorded, recorded investment | 4,158,000 | ||
Impaired loans with a related allowance recorded, unpaid principal balance | 4,208,000 | ||
Impaired loans, related allowance | 1,299,000 | ||
Impaired loans, recorded investment | 2,057,000 | 4,646,000 | |
Impaired loans, unpaid principal balance | 2,060,000 | 5,489,000 | |
Consumer Portfolio Segment [Member] | |||
With no allowance recorded, average recorded investment | 901,000 | 750,000 | 593,000 |
With no allowance recorded, interest income recognized | 35,000 | 31,000 | 22,000 |
With allowance recorded, average recorded investment | 18,000 | 9,000 | |
With allowance recorded, interest income recognized | |||
Impaired Loans, Average recorded investment | 919,000 | 759,000 | 593,000 |
Impaired Loans, interest income recognized | 35,000 | 31,000 | 22,000 |
Consumer Portfolio Segment [Member] | Business Activities Loans [Member] | |||
Impaired loans with no related allowance recorded, recorded investment | 916,000 | 827,000 | |
Impaired loans with no related allowance recorded, unpaid principal balance | 1,000,000 | 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 | 916,000 | 864,000 | |
Impaired loans, unpaid principal balance | 1,000,000 | 904,000 | |
Construction Portfolio Segment [Member] | |||
With no allowance recorded, average recorded investment | 4,062,000 | 1,354,000 | |
With no allowance recorded, interest income recognized | 503,000 | ||
With allowance recorded, average recorded investment | 4,062,000 | 1,354,000 | |
With allowance recorded, interest income recognized | 503,000 | ||
Construction Portfolio Segment [Member] | Business Activities Loans [Member] | |||
Impaired loans with no related allowance recorded, recorded investment | 8,800,000 | ||
Impaired loans with no related allowance recorded, unpaid principal balance | 8,839,000 | ||
Impaired loans with a related allowance recorded, recorded investment | 8,800,000 | ||
Impaired loans with a related allowance recorded, unpaid principal balance | 8,839,000 | ||
Impaired loans, related allowance |
Note 5 - Loans Held for Sale (D
Note 5 - Loans Held for Sale (Details Textual) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Loans Receivable Held-for-sale, Net, Not Part of Disposal Group, Ending Balance | $ 15,300,000 | ||
Loans Serviced By Entity But Owned By a Third Party | 13,600,000 | $ 1,900,000 | |
Servicing Asset, Total | 201,000 | $ 0 | |
Servicing Asset at Fair Value, Amount, Ending Balance | 280,000 | ||
Commercial Portfolio Segment [Member] | |||
Loans Receivable Held-for-sale, Net, Not Part of Disposal Group, Ending Balance | 10,200,000 | ||
Commercial Real Estate Portfolio Segment [Member] | |||
Loans Receivable Held-for-sale, Net, Not Part of Disposal Group, Ending Balance | $ 5,100,000 |
Note 5 - Loans Held for Sale -
Note 5 - Loans Held for Sale - Analysis of the Activity in the SBA Servicing Assets (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Beginning balance | $ 37 | |
Servicing rights capitalized | 180 | 42 |
Servicing rights amortized | (16) | (5) |
Ending balance | $ 201 | $ 37 |
Note 6 - Premises and Equipme_3
Note 6 - Premises and Equipment (Details Textual) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Depreciation, Total | $ 1.6 | $ 1.5 | $ 1.2 |
Note 6 - Premises and Equipme_4
Note 6 - Premises and Equipment - Summary of Premises and Equipment (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Property, plant and equipment, gross | $ 48,867 | $ 48,265 |
Accumulated depreciation and amortization | (14,299) | (12,830) |
Premises and equipment, net | 34,568 | 35,435 |
Land [Member] | ||
Property, plant and equipment, gross | 12,819 | 12,819 |
Building [Member] | ||
Property, plant and equipment, gross | 20,287 | 20,200 |
Leasehold Improvements [Member] | ||
Property, plant and equipment, gross | 4,024 | 3,891 |
Furniture Equipment and Software [Member] | ||
Property, plant and equipment, gross | 11,687 | 11,242 |
Construction in Progress [Member] | ||
Property, plant and equipment, gross | $ 50 | $ 113 |
Note 7 - Other Real Estate Ow_2
Note 7 - Other Real Estate Owned ("OREO") (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Real Estate Acquired Through Foreclosure | $ 2,400,000 | $ 2,900,000 |
Net Gain (Loss) Recognized on Sale or Acquisition of Other Real Estate | $ (14,000) |
Note 8 - Business Combination_3
Note 8 - Business Combination, Goodwill and Other Intangible Assets (Details Textual) - USD ($) | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | May 10, 2018 | |
Goodwill, Ending Balance | $ 1,107,000 | $ 1,728,000 | $ 1,728,000 | |
Goodwill, Purchase Accounting Adjustments | (621,000) | |||
Amortization of Intangible Assets, Total | $ 75,000 | 50,000 | ||
Core Deposits [Member] | ||||
Finite-Lived Intangible Asset, Useful Life (Year) | 10 years | |||
Amortization of Intangible Assets, Total | $ 75,000 | 50,000 | ||
Prime Bank [Member] | ||||
Goodwill, Ending Balance | 1,100,000 | 1,700,000 | $ 2,100,000 | |
Goodwill, Purchase Accounting Adjustments | $ (621,000) | |||
Hana SBL [Member] | ||||
Business Combination, Acquisition Related Costs | $ 1,150,000 |
Note 8 - Business Combination_4
Note 8 - Business Combination, Goodwill and Other Intangible Assets - Schedule of Goodwill (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Balance | $ 1,728 | $ 1,728 |
Mesurement period adjustments | (621) | |
Balance | $ 1,107 | $ 1,728 |
Note 8 - Business Combination_5
Note 8 - Business Combination, Goodwill and Other Intangible Assets - Schedule of Finite-lived Intangible Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Core deposit intangible, net | $ 623 | $ 698 |
Core Deposits [Member] | ||
Gross Intangible asset | 748 | 748 |
Accumulated amortization | (125) | (50) |
Core deposit intangible, net | $ 623 | $ 698 |
Note 9 - Deposits - Summary of
Note 9 - Deposits - Summary of Deposits (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Non-interest bearing, Balance | $ 88,135 | $ 84,471 |
NOW, Balance | $ 26,864 | $ 26,100 |
NOW, Weighted Avg. Stated interest rate | 0.08% | 0.08% |
Savings, Balance | $ 64,020 | $ 81,912 |
Savings, Weighted Avg. Stated interest rate | 0.76% | 0.72% |
Money market, Balance | $ 99,115 | $ 85,197 |
Money market, Weighted Avg. Stated interest rate | 1.85% | 1.82% |
Certificates of deposit, less than $250,000, Balance | $ 193,942 | $ 203,683 |
Certificates of deposit, less than $250,000, Weighted Avg. Stated interest rate | 2.19% | 1.83% |
Certificates of deposit, $250,000 or greater, Balance | $ 67,550 | $ 78,318 |
Certificates of deposit, $250,000 or greater, Weighted Avg. Stated interest rate | 2.48% | 2.20% |
Brokered deposits, Balance | $ 229,909 | $ 183,600 |
Brokered deposits, Weighted Avg. Stated interest rate | 2.01% | 2.29% |
Interest bearing, Total, Balance | $ 681,400 | $ 658,810 |
Interest bearing, Total, Weighted Avg. Stated interest rate | 1.89% | 1.79% |
Deposits, Balance | $ 769,535 | $ 743,281 |
Deposits, Weighted Avg. Stated interest rate | 1.68% | 1.59% |
Note 9 - Deposits - Interest Ex
Note 9 - Deposits - Interest Expense on Deposits (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
NOW, Interest expense | $ 18 | $ 15 | $ 7 |
NOW, Weighted Avg. Effective Interest Rate | 0.07% | 0.06% | 0.03% |
Savings, Interest expense | $ 429 | $ 995 | $ 1,160 |
Savings, Weighted Avg. Effective Interest Rate | 0.63% | 0.85% | 0.81% |
Money market, Interest expense | $ 2,048 | $ 549 | $ 5 |
Money market, Weighted Avg. Effective Interest Rate | 2.00% | 1.34% | 0.04% |
Certificates of deposit, less than $250,000, Interest expense | $ 4,986 | $ 3,048 | $ 1,875 |
Certificates of deposit, less than $250,000, Weighted Avg. Effective Interest Rate | 2.38% | 1.57% | 1.05% |
Certificates of deposit, $250,000 or greater, Interest expense | $ 1,546 | $ 1,226 | $ 912 |
Certificates of deposit, $250,000 or greater, Weighted Avg. Effective Interest Rate | 2.01% | 1.68% | 1.46% |
Brokered deposits, Interest expense | $ 4,958 | $ 3,191 | $ 989 |
Brokered deposits, Weighted Avg. Effective Interest Rate | 2.47% | 1.91% | 1.24% |
Interest Expense on Deposits, Total, Interest expense | $ 13,985 | $ 9,024 | $ 4,948 |
Interest Expense on Deposits, Total, Weighted Avg. Effective Interest Rate | 2.05% | 1.46% | 0.99% |
Note 9 - Deposits - Contractual
Note 9 - Deposits - Contractual Maturities of Certificates of Deposit (Details) $ in Thousands | Dec. 31, 2019USD ($) |
1 year or less | $ 448,743 |
More than 1 year through 2 years | 31,917 |
More than 2 years through 3 years | 8,642 |
More than 3 years through 4 years | 972 |
More than 4 years through 5 years | 1,127 |
Contractual Maturities of Certificates of Deposit, Total | 491,401 |
Certificates of Deposits Less Than $250,000 [Member] | |
1 year or less | 177,878 |
More than 1 year through 2 years | 12,270 |
More than 2 years through 3 years | 2,530 |
More than 3 years through 4 years | 387 |
More than 4 years through 5 years | 877 |
Contractual Maturities of Certificates of Deposit, Total | 193,942 |
Certificates of Deposit $250,000 or Greater [Member] | |
1 year or less | 64,158 |
More than 1 year through 2 years | 2,042 |
More than 2 years through 3 years | 765 |
More than 3 years through 4 years | 585 |
More than 4 years through 5 years | |
Contractual Maturities of Certificates of Deposit, Total | 67,550 |
Brokered Deposits [Member] | |
1 year or less | 206,707 |
More than 1 year through 2 years | 17,605 |
More than 2 years through 3 years | 5,347 |
More than 3 years through 4 years | |
More than 4 years through 5 years | 250 |
Contractual Maturities of Certificates of Deposit, Total | $ 229,909 |
Note 10 - Borrowings (Details T
Note 10 - Borrowings (Details Textual) | Jun. 29, 2018USD ($) | Sep. 30, 2015USD ($) | Jun. 30, 2014USD ($) | Sep. 30, 2016USD ($) | Jun. 30, 2009 | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2003USD ($) | Dec. 22, 2016USD ($) |
Long-term Debt, Total | $ 130,900,000 | $ 131,000,000 | ||||||||
Advances from Federal Home Loan Banks, Total | 100,000,000 | 100,000,000 | ||||||||
Federal Home Loan Bank, Advances, Maturities Summary, Fixed Rate, Total | $ 90,000,000 | |||||||||
Federal Home Loan Bank, Advances, Activity for Year, Average Interest Rate for Year | 2.99% | |||||||||
Federal Home Loan Bank, Advances, Maturities Summary, Floating Rate, Total | $ 10,000,000 | |||||||||
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Collateral Pledged | 264,000,000 | |||||||||
Debt Issuance Costs, Net, Total | 541,000 | |||||||||
Amortization of Debt Issuance Costs | 112,000 | 97,000 | $ 82,000 | |||||||
Subordinated Debt, Ending Balance | 9,752,000 | 9,723,000 | ||||||||
Interest Expense, Subordinated Notes and Debentures | 1,118,000 | 767,000 | $ 360,000 | |||||||
Long-term Debt, Gross | 131,441,000 | |||||||||
Correspondent Bank Agreement [Member] | Zions Bank [Member] | ||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | 5,000,000 | 26,000,000 | ||||||||
Long-term Line of Credit, Total | 0 | 0 | ||||||||
Interest Expense, Debt, Total | 2,000 | 13,000 | ||||||||
Federal Home Loan Bank, Advances, Callable Option [Member] | ||||||||||
Federal Home Loan Bank, Advances, Maturities Summary, Fixed Rate, Total | 50,000,000 | |||||||||
Federal Home Loan Bank Advances [Member] | ||||||||||
Long-term Debt, Total | 100,000,000 | |||||||||
Debt Issuance Costs, Net, Total | ||||||||||
Long-term Debt, Gross | 100,000,000 | |||||||||
Senior Notes [Member] | ||||||||||
Long-term Debt, Total | 11,853,000 | |||||||||
Debt Instrument, Face Amount | $ 12,000,000 | |||||||||
Debt Instrument, Interest Rate, Stated Percentage | 7.00% | |||||||||
Debt Issuance Costs, Net, Total | 147,000 | 222,000 | $ 374,000 | |||||||
Interest Expense, Long-term Debt, Total | $ 915,000 | 915,000 | ||||||||
Debt Instrument, Interest Rate, Effective Percentage | 7.60% | |||||||||
Amortization of Debt Issuance Costs | $ 75,000 | 75,000 | ||||||||
Long-term Debt, Gross | 12,000,000 | |||||||||
Senior Notes [Member] | Accrued Expenses and Other Liabilities [Member] | ||||||||||
Interest Payable | 23,000 | 23,000 | ||||||||
Subordinated Notes [Member] | ||||||||||
Debt Instrument, Face Amount | $ 10,000,000 | |||||||||
Debt Instrument, Interest Rate, Stated Percentage | 6.25% | |||||||||
Subordinated Notes [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||||||||
Debt Instrument, Basis Spread on Variable Rate | 3.325% | |||||||||
Subordinated Debt [Member] | ||||||||||
Long-term Debt, Total | 9,752,000 | |||||||||
Interest Expense, Debt, Total | 656,000 | 327,000 | ||||||||
Debt Issuance Costs, Net, Total | $ 291,000 | 248,000 | 277,000 | |||||||
Long-term Debt, Gross | 10,000,000 | |||||||||
Junior Subordinated Debt [Member] | ||||||||||
Long-term Debt, Total | 8,102,000 | |||||||||
Interest Expense, Debt, Total | $ 1,700,000 | $ 700,000 | ||||||||
Debt Issuance Costs, Net, Total | 146,000 | 154,000 | ||||||||
Amortization of Debt Issuance Costs | 8,000 | 7,000 | ||||||||
Interest Payable | $ 6,000 | 8,000 | ||||||||
Debt Instrument, Basis Spread on Variable Rate | 5.10% | |||||||||
Subordinated Debt, Ending Balance | $ 8,000,000 | |||||||||
Payments of Debt Issuance Costs | $ 240,000 | |||||||||
Excess Tier One Risk Based Capital to Risk Weighted Assets | 0.25 | |||||||||
Number of Consecutive Quarters for Interest Deferment | 20 | |||||||||
Interest Expense, Subordinated Notes and Debentures | $ 462,000 | 440,000 | ||||||||
Long-term Debt, Gross | $ 8,248,000 | |||||||||
Junior Subordinated Debt [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||||||||
Debt Instrument, Basis Spread on Variable Rate | 3.15% | |||||||||
Notes Payable, Other Payables [Member] | ||||||||||
Long-term Debt, Total | $ 1,193,000 | |||||||||
Debt Instrument, Term (Day) | 9 years | |||||||||
Interest Expense, Debt, Total | 23,000 | 26,000 | ||||||||
Debt Instrument, Face Amount | $ 2,000,000 | |||||||||
Debt Instrument, Interest Rate, Stated Percentage | 1.75% | |||||||||
Debt Issuance Costs, Net, Total | ||||||||||
Long-term Debt, Gross | $ 1,193,000 | 1,400,000 | ||||||||
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid | $ 234,000 | |||||||||
Minimum [Member] | ||||||||||
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Interest Rate | 1.85% | |||||||||
Minimum [Member] | London Interbank Offered Rate (LIBOR) [Member] | Advances from FHLB, Callable in Second Half of 2018 and Up to October 2020 [Member] | ||||||||||
Federal Home Loan Bank, Advances, Basis Spread on Floating Rate of Amounts Due After 90 Days | 1.00% | |||||||||
Minimum [Member] | Federal Home Loan Bank Advances [Member] | ||||||||||
Debt Instrument, Term (Day) | 2 days | |||||||||
Maximum [Member] | ||||||||||
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Interest Rate | 3.61% | |||||||||
Maximum [Member] | Advances from FHLB, Callable in Second Half of 2018 and Up to October 2020 [Member] | ||||||||||
Federal Home Loan Bank, Advances, Fixed Interest Rate, after One Year | 4.23% | |||||||||
Maximum [Member] | Federal Home Loan Bank Advances [Member] | ||||||||||
Debt Instrument, Term (Day) | 4 years 255 days | |||||||||
Federal Home Loan Bank Borrowings [Member] | ||||||||||
Long Term Debt, Additional Available Amount | $ 63,900,000 | |||||||||
Line of Credit Facility, Maximum Borrowing Capacity | 2,000,000 | |||||||||
Long-term Line of Credit, Total | 0 | 0 | ||||||||
Interest Expense, Debt, Total | $ 2,200,000 | $ 1,600,000 |
Note 10 - Borrowings - Maturity
Note 10 - Borrowings - Maturity of Borrowings (Details) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 | Jun. 29, 2018 | Dec. 22, 2016 |
2020 | $ 10,199,000 | |||
2021 | 12,202,000 | |||
2022 | 206,000 | |||
2023 | 60,210,000 | |||
2024 | 30,376,000 | |||
Thereafter | 18,248,000 | |||
Total contractual maturities of borrowings | 131,441,000 | |||
Unamortized debt issuance costs | (541,000) | |||
Balance of borrowings at December 31, 2019 | 130,900,000 | $ 131,000,000 | ||
Federal Home Loan Bank Advances [Member] | ||||
2020 | 10,000,000 | |||
2021 | ||||
2022 | ||||
2023 | 60,000,000 | |||
2024 | 30,000,000 | |||
Thereafter | ||||
Total contractual maturities of borrowings | 100,000,000 | |||
Unamortized debt issuance costs | ||||
Balance of borrowings at December 31, 2019 | 100,000,000 | |||
Senior Notes [Member] | ||||
2020 | ||||
2021 | 12,000,000 | |||
2022 | ||||
2023 | ||||
2024 | ||||
Thereafter | ||||
Total contractual maturities of borrowings | 12,000,000 | |||
Unamortized debt issuance costs | (147,000) | (222,000) | $ (374,000) | |
Balance of borrowings at December 31, 2019 | 11,853,000 | |||
Subordinated Debt [Member] | ||||
2020 | ||||
2021 | ||||
2022 | ||||
2023 | ||||
2024 | ||||
Thereafter | 10,000,000 | |||
Total contractual maturities of borrowings | 10,000,000 | |||
Unamortized debt issuance costs | (248,000) | (277,000) | $ (291,000) | |
Balance of borrowings at December 31, 2019 | 9,752,000 | |||
Junior Subordinated Debt [Member] | ||||
2020 | ||||
2021 | ||||
2022 | ||||
2023 | ||||
2024 | ||||
Thereafter | 8,248,000 | |||
Total contractual maturities of borrowings | 8,248,000 | |||
Unamortized debt issuance costs | (146,000) | (154,000) | ||
Balance of borrowings at December 31, 2019 | 8,102,000 | |||
Notes Payable, Other Payables [Member] | ||||
2020 | 199,000 | |||
2021 | 202,000 | |||
2022 | 206,000 | |||
2023 | 210,000 | |||
2024 | 376,000 | |||
Thereafter | ||||
Total contractual maturities of borrowings | 1,193,000 | $ 1,400,000 | ||
Unamortized debt issuance costs | ||||
Balance of borrowings at December 31, 2019 | $ 1,193,000 |
Note 11 - Derivatives (Details
Note 11 - Derivatives (Details Textual) - Interest Rate Swap [Member] - Not Designated as Hedging Instrument [Member] | Dec. 31, 2019USD ($) | Sep. 30, 2019USD ($) | Nov. 30, 2018 |
Derivative, Number of Instruments Held, Total | 2 | ||
Derivative, Collateral, Right to Reclaim Cash | $ 1,100,000 | $ 300,000 |
Note 11 - Derivatives - Schedul
Note 11 - Derivatives - Schedule of Derivative Instruments (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Interest rate swap receivable | $ 694 | $ 286 |
Interest Rate Swap One [Member] | Not Designated as Hedging Instrument [Member] | ||
Derivative Asset, Notional Amount | $ 4,944 | |
Derivative, Maturity (Year) | 9 years 109 days | |
Derivative, Fixed Rate | 5.25% | |
Derivative, Variable Rate | 1.96% | |
Derivative Liability, Notional Amount | $ 4,944 | |
Interest Rate Swap One [Member] | Not Designated as Hedging Instrument [Member] | Other Assets [Member] | ||
Interest rate swap receivable | 617 | |
Interest Rate Swap One [Member] | Not Designated as Hedging Instrument [Member] | Other Liabilities [Member] | ||
Derivative Liability, Fair Value | (617) | |
Interest Rate Swap Two [Member] | Not Designated as Hedging Instrument [Member] | ||
Derivative Asset, Notional Amount | $ 1,444 | |
Derivative, Maturity (Year) | 9 years 182 days | |
Derivative, Fixed Rate | 4.38% | |
Derivative, Variable Rate | 2.00% | |
Interest rate swap receivable | $ 77 | |
Derivative Liability, Notional Amount | 1,444 | |
Derivative Liability, Fair Value | $ (77) | |
Interest Rate Swap [Member] | Not Designated as Hedging Instrument [Member] | ||
Derivative Asset, Notional Amount | $ 5,000 | |
Derivative, Maturity (Year) | 10 years 182 days | |
Derivative, Fixed Rate | 5.25% | |
Derivative, Variable Rate | 1.96% | |
Interest rate swap receivable | $ 286 | |
Derivative Liability, Notional Amount | 5,000 | |
Derivative Liability, Fair Value | $ (286) |
Note 12 - Leases (Details Textu
Note 12 - Leases (Details Textual) | 12 Months Ended | ||
Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | |
Number of Operating Leases in Bank Branch Locations, Lessee | 4 | ||
Number of Operating Leases in Administrative and Operational Spaces, Lessee | 3 | ||
Number of Operating Leases in Equipment Leases, Lessee | 1 | ||
Operating Lease, Right-of-Use Asset | $ 3,160,000 | ||
Operating Lease, Cost | 517,000 | ||
Variable Lease, Cost | 27,000 | ||
Lessee, Operating Lease, Liability, Payments, Due, Total | 3,925,000 | ||
Lessor, Operating Lease, Payments to be Received, Total | 2,000,000 | ||
Operating Lease, Expense | 636,000 | $ 593,000 | $ 953,000 |
Operating Lease, Lease Income, Total | 589,000 | 413,000 | 399,000 |
Operating Lease, Initial Direct Cost Expense, over Term | 5,000 | $ 5,000 | $ 5,000 |
Accrued Expenses and Other Liabilities [Member] | |||
Operating Lease, Liability, Total | $ 3,264,000 |
Note 12 - Leases - Maturity of
Note 12 - Leases - Maturity of Operating Lease Liabilities (Details) $ in Thousands | Dec. 31, 2019USD ($) |
2020 | $ 520 |
2021 | 531 |
2022 | 497 |
2023 | 463 |
2024 | 350 |
Thereafter | 1,564 |
Total undiscounted lease payments | 3,925 |
Less imputed interest | (661) |
Operating lease right-of-use asset | 3,160 |
Accrued Expenses and Other Liabilities [Member] | |
Present value of operating lease liabilities | $ 3,264 |
Note 12 - Leases - Lease Cost a
Note 12 - Leases - Lease Cost and Information (Details) | 12 Months Ended |
Dec. 31, 2019USD ($) | |
Operating lease cost | $ 517,000 |
Short-term lease cost | 119,000 |
Total lease cost | 636,000 |
Operating cash flows from operating leases | $ 459,000 |
Weighted -average remaining lease term - operating leases (in years) (Year) | 10 years |
Weighted -average discount rate - operating leases | 3.48% |
Note 14 - Income Taxes (Details
Note 14 - Income Taxes (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Effective Income Tax Rate Reconciliation, Percent, Total | 24.20% | 21.80% | 41.10% |
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability | $ 2,800,000 | ||
Effective Income Tax Rate Reconciliation, Prior Year Income Taxes, Amount | $ (500,000) | (2,774,000) | |
Deferred Tax Assets, Valuation Allowance, Total | 0 | 0 | |
Unrecognized Tax Benefits, Ending Balance | 1,220,000 | $ 1,132,000 | |
Unrecognized Tax Benefits, Interest on Income Taxes Accrued | 88,000 | ||
Unrecognized Tax Benefits, Income Tax Penalties Accrued | 0 | ||
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | |||
Operating Loss Carryforwards, Including Limitation Amount | 22,700,000 | ||
Operating Loss Carryforwards, Limitation Amount | 15,500,000 | ||
Operating Loss Carryforwards, Total | 22,700,000 | ||
Operating Loss Carryforwards, Subject to Expiration | 20,200,000 | ||
Operating Loss Carryforwards, Not Subject to Expiration | $ 2,500,000 | ||
Open Tax Year | 2016 2017 2018 2019 | ||
State and Local Jurisdiction [Member] | Department of Revenue Services for the State of Connecticut [Member] | |||
Operating Loss Carryforwards, Total | $ 56,400,000 | ||
Operating Loss Carryforwards, Maximum Percentage of Taxable Income Per Year Allowed to be Offset by NOLs | 50.00% | ||
Open Tax Year | 2016 2017 2018 2019 | ||
State and Local Jurisdiction [Member] | New York State Division of Taxation and Finance [Member] | |||
Open Tax Year | 2016 2017 2018 2019 |
Note 14 - Income Taxes - Compon
Note 14 - Income Taxes - Components of the Income Tax Provision (Benefit) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Federal | $ 88 | $ 447 | $ 252 |
State | 149 | 708 | 365 |
Components of the Income Tax Provision, Current Total | 237 | 1,155 | 617 |
Federal | (698) | 148 | 2,067 |
State | (438) | (413) | 191 |
Components of the Income Tax Provision, Deferred Total | (1,136) | (265) | 2,258 |
Income tax (benefit) expense | $ (899) | $ 890 | $ 2,875 |
Note 14 - Income Taxes - Reconc
Note 14 - Income Taxes - Reconciliation of the Anticipated Income Tax Benefit (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Income taxes at statutory Federal rate | $ (780) | $ 858 | $ 2,387 |
State taxes, net of Federal benefit | (228) | 233 | 377 |
Nondeductible expenses | 14 | 15 | 11 |
Benefit of change in Sec 382 classification | (500) | (2,774) | |
Deferred tax adjustment resulting from tax rate change | 198 | 2,809 | |
Other | 95 | 86 | 65 |
Income tax (benefit) expense | $ (899) | $ 890 | $ 2,875 |
Note 14 - Income Taxes - Deferr
Note 14 - Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Federal NOL carryforward benefit | $ 4,759 | $ 4,119 |
NOL write-off for Sec 382 Limit | (3,258) | (3,258) |
Capitalized cost temporary item | 3,929 | 4,239 |
State NOL carryforward benefit | 3,341 | 3,025 |
Allowance for loan loss | 2,718 | 2,048 |
Lease liabilities | 882 | |
Non-accrual interest | 335 | 170 |
Merger and acquisition | 220 | 357 |
Accrued expenses | 114 | 178 |
Unrealized loss AFS securities | 140 | 288 |
Share based compensation | 13 | 109 |
Federal AMT benefit | 707 | |
Other | 20 | |
Gross deferred tax assets | 13,193 | 12,002 |
UTP (NOLs used) | (1,132) | (1,132) |
Right-of-Use assets | (849) | |
Goodwill and intangible | (40) | (16) |
Depreciation of premises and equipment | (34) | (3) |
Other | (5) | |
Gross deferred tax liabilities | (2,060) | (1,151) |
Net deferred tax asset | $ 11,133 | $ 10,851 |
Note 14 - Income Taxes - Schedu
Note 14 - Income Taxes - Schedule of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Balance | $ 1,132 | |
Increases due to tax positions related to a prior year | 88 | 1,132 |
Balance | $ 1,220 | $ 1,132 |
Note 15 - Share-based Compens_3
Note 15 - Share-based Compensation (Details Textual) - USD ($) | Jan. 04, 2016 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Jan. 31, 2019 |
Labor and Related Expense | $ 13,681,000 | $ 11,741,000 | $ 10,915,000 | ||
Restricted Stock [Member] | |||||
Share-based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount | $ 306,000 | ||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 2 years 40 days | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period (in shares) | 1,404 | 6,600 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period (in shares) | 19,995 | 10,999 | 7,878 | ||
2012 Stock Plan [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 3,000,000 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares) | 2,860,438 | ||||
Share-based Payment Arrangement, Expense | $ 214,000 | $ 220,000 | $ 146,000 | ||
2012 Stock Plan [Member] | Employee [Member] | |||||
Share-based Payment Arrangement, Expense | 117,000 | 135,000 | 68,000 | ||
2012 Stock Plan [Member] | Patriot's External Directors [Member] | |||||
Share-based Payment Arrangement, Expense | 97,000 | 85,000 | 78,000 | ||
Labor and Related Expense | $ 547,000 | $ 370,000 | $ 318,000 | ||
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 (in shares) | 0 | ||||
2012 Stock Plan [Member] | Restricted Stock [Member] | Non-executive Employees [Member] | |||||
Stock Granted During Period, Shares, Gross Per Employee (in shares) | 100 | ||||
Stock Issued During Period, Shares, Restricted Stock Award, Gross (in shares) | 8,700 | ||||
Share Price (in dollars per share) | $ 15.50 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period (in shares) | 2,700 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period (in shares) | 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 (Year) | 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 (Year) | 5 years |
Note 15 - Share-based Compens_4
Note 15 - Share-based Compensation - Restricted Shares (Details) - Restricted Stock [Member] - $ / shares | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Unvested at beginning of year (in shares) | 31,790 | 25,870 | 35,264 | |
Unvested at beginning of year, weighted average grant date fair value (in dollars per share) | $ 12.91 | $ 14.06 | $ 12.15 | $ 12.84 |
Granted (in shares) | 9,675 | 18,323 | 5,084 | |
Granted, weighted average grant date fair value (in dollars per share) | $ 15.52 | $ 18.07 | $ 15.05 | |
Vested (in shares) | (19,995) | (10,999) | (7,878) | |
Vested, weighted average grant date fair value (in dollars per share) | $ 15.99 | $ 16.21 | $ 14.31 | |
Forfeited (in shares) | (1,404) | (6,600) | ||
Forfeited, weighted average grant date fair value (in dollars per share) | $ 14.44 | $ 15.50 | ||
Unvested at end of year (in shares) | 21,470 | 31,790 | 25,870 |
Note 16 - Shareholders' Equit_2
Note 16 - Shareholders' Equity (Details Textual) - USD ($) | Oct. 15, 2010 | Aug. 31, 2017 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Jul. 26, 2016 | Oct. 14, 2010 |
Stock Issued During Period, Shares, Acquisitions (in shares) | 3,360,000 | ||||||
Stock Issued During Period at Purchase Price Per Share, Acquisition (in dollars per share) | $ 15 | ||||||
Stock Issued During Period, Value, Acquisitions | $ 50,400,000 | ||||||
Percentage of Shares Sold of Common Stock Issued and Outstanding | 87.60% | ||||||
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.01 | $ 0.01 | $ 0.01 | $ 2 | |||
Common Stock, Shares Authorized (in shares) | 100,000,000 | 100,000,000 | 100,000,000 | ||||
Stock Repurchase Program, Number of Shares Authorized to be Repurchased (in shares) | 500,000 | ||||||
Treasury Stock, Shares, Acquired (in shares) | 100 | 0 | 0 | 72,471 | |||
Treasury Stock Acquired, Average Cost Per Share (in dollars per share) | $ 17.10 | $ 14.04 | |||||
Common Stock, Dividends, Per Share, Cash Paid (in dollars per share) | $ 0.01 | ||||||
Payments of Ordinary Dividends, Common Stock | $ 155,000 | $ 154,000 | $ 77,000 | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 3,555 |
Note 16 - Shareholders' Equit_3
Note 16 - Shareholders' Equity - Computation of Income (Loss) Per Share (Details) - USD ($) | 3 Months Ended | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Net Income (Loss) Attributable to Parent, Total | $ (1,500,000) | $ (2,817,000) | $ 3,196,000 | $ 4,147,000 |
Weighted average shares outstanding (in shares) | 3,921,783 | 3,904,052 | 3,894,222 | |
Basic (loss) earnings per common share (in dollars per share) | $ (0.72) | $ 0.82 | $ 1.06 | |
Net (loss) income attributable to Common shareholders | $ (2,817,000) | $ 3,196,000 | $ 4,147,000 | |
Effect of potentially dilutive restricted common shares (in shares) | 11,573 | 2,963 | ||
Weighted average diluted shares outstanding (in shares) | 3,921,783 | 3,915,625 | 3,897,185 | |
Diluted (loss) earnings per common share (in dollars per share) | $ (0.72) | $ 0.82 | $ 1.06 |
Note 17 - 401(k) Savings Plan (
Note 17 - 401(k) Savings Plan (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Defined Benefit Plan, Employee Eligible Service Period (Month) | 30 days | ||
Defined Benefit Plan, Eligible Age for Employee (Year) | 21 years | ||
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, Employee Eligible Service Period for Employer Match (Month) | 180 days | ||
Defined Contribution Plan, Cost | $ 251,000 | $ 204,000 | $ 173,000 |
Note 18 - Financial Instrumen_3
Note 18 - Financial Instruments with Off-balance Sheet Risk (Details Textual) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Banks Reserve Based on Analysis in Unfunded Commitments | $ 8,000 | $ 8,000 |
Note 18 - Financial Instrumen_4
Note 18 - Financial Instruments with Off-balance Sheet Risk - Financial Instruments With Credit Risk (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Commitments to extend credit | $ 145,065 | $ 179,727 |
Unused Line of Credit [Member] | ||
Commitments to extend credit | 71,101 | 77,120 |
Undisbursed Construction Loans [Member] | ||
Commitments to extend credit | 25,367 | 20,679 |
Home Equity Lines of Credit [Member] | ||
Commitments to extend credit | 20,032 | 19,330 |
Future Loan Commitments [Member] | ||
Commitments to extend credit | 27,822 | 61,438 |
Financial Standy Letter of Credit [Member] | ||
Commitments to extend credit | $ 743 | $ 1,160 |
Note 19 - Regulatory and Oper_3
Note 19 - Regulatory and Operational Matters (Details Textual) - USD ($) $ in Billions | Mar. 31, 2020 | Dec. 31, 2019 | Jan. 01, 2019 |
Capital Required to be Well Capitalized to Risk Weighted Assets | 0.1 | ||
Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets | 0.08 | ||
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 | 0.09 | ||
Capital Conservation Buffer | 2.50% | ||
Capital Conservation Buffer Phase In Amount | 1.875% | ||
Capital Required for Capital Adequacy to Risk Weighted Assets | 0.105 | ||
Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets with Capital Buffer | 8.50% | ||
Forecast [Member] | |||
Community Bank, Tier One Leverage Ratio | 9.00% | ||
Community Bank, Tier One Leverage Capital Required for Capital Adequacy | $ 10 |
Note 19 - Regulatory and Oper_4
Note 19 - Regulatory and Operational Matters - Regulatory Capital Amounts and Ratios (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Jan. 01, 2019 | Dec. 31, 2018 | |
Total Capital (to Risk Weighted Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio | 0.1 | |||
Total Capital (to Risk Weighted Assets) For Capital Adequacy Purposes Ratio | 0.105 | |||
Tier 1 Capital (to Risk Weighted Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio | 0.08 | |||
Tier 1 Capital (to Risk Weighted Assets) For Capital Adequacy Purposes With Capital Buffer 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 | 0.09 | |||
Parent Company [Member] | ||||
Total Capital (to Risk Weighted Assets) Actual Amount | $ 90,083 | $ 90,722 | ||
Total Capital (to Risk Weighted Assets) Actual Ratio | 0.1051 | 0.10452 | ||
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 | $ 68,573 | $ 69,441 | ||
Total Capital (to Risk Weighted Assets) For Capital Adequacy Purposes Ratio | 0.08 | 0.08 | ||
Tier 1 Capital (to Risk Weighted Assets) Actual Amount | $ 69,957 | $ 73,101 | ||
Tier 1 Capital (to Risk Weighted Assets) Actual Ratio | 0.08161 | 0.08422 | ||
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 | $ 51,430 | $ 52,081 | ||
Tier 1 Capital (to Risk Weighted Assets) For Capital Adequacy Purposes Ratio | 0.06 | 0.06 | ||
Common Equity Tier 1 Capital (to Risk Weighted Assets) Actual Amount | $ 61,957 | $ 65,101 | ||
Common Equity Tier 1 Capital (to Risk Weighted Assets) Actual Ratio | 0.07228 | 0.075 | ||
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 | $ 38,572 | $ 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 | $ 69,957 | $ 73,101 | ||
Tier 1 Capital (to Average Assets) Actual Ratio | 0.07148 | 0.07842 | ||
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 | $ 39,148 | $ 37,288 | ||
Tier 1 Capital (to Average Assets) For Capital Adequacy Purposes Ratio | 0.04 | 0.04 | ||
Subsidiaries [Member] | ||||
Total Capital (to Risk Weighted Assets) Actual Amount | $ 100,953 | $ 99,341 | ||
Total Capital (to Risk Weighted Assets) Actual Ratio | 0.11826 | 0.115 | ||
Total Capital (to Risk Weighted Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions Amount | [1] | $ 85,362 | $ 86,384 | |
Total Capital (to Risk Weighted Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio | [1] | 0.1 | 0.1 | |
Total Capital (to Risk Weighted Assets) For Capital Adequacy Purposes With Capital Buffer Amount | [2] | $ 89,630 | $ 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 | $ 68,290 | $ 69,107 | ||
Total Capital (to Risk Weighted Assets) For Capital Adequacy Purposes Ratio | 0.08 | 0.08 | ||
Tier 1 Capital (to Risk Weighted Assets) Actual Amount | $ 90,827 | $ 91,720 | ||
Tier 1 Capital (to Risk Weighted Assets) Actual Ratio | 0.1064 | 0.10618 | ||
Tier 1 Capital (to Risk Weighted Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions Amount | [1] | $ 68,290 | $ 69,107 | |
Tier 1 Capital (to Risk Weighted Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio | [1] | 0.08 | 0.08 | |
Tier 1 Capital (to Risk Weighted Assets) For Capital Adequacy Purposes With Capital Buffer Amount | [2] | $ 72,558 | $ 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 | $ 51,217 | $ 51,830 | ||
Tier 1 Capital (to Risk Weighted Assets) For Capital Adequacy Purposes Ratio | 0.06 | 0.06 | ||
Common Equity Tier 1 Capital (to Risk Weighted Assets) Actual Amount | $ 90,827 | $ 91,720 | ||
Common Equity Tier 1 Capital (to Risk Weighted Assets) Actual Ratio | 0.1064 | 0.10618 | ||
Common Equity Tier 1 Capital (to Risk Weighted Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions Amount | [1] | $ 55,485 | $ 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] | $ 59,753 | $ 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 | $ 38,413 | $ 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 | $ 90,827 | $ 91,720 | ||
Tier 1 Capital (to Average Assets) Actual Ratio | 0.09279 | 0.09838 | ||
Tier 1 Capital (to Average Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions Amount | [1] | $ 48,944 | $ 46,617 | |
Tier 1 Capital (to Average Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio | [1] | 0.05 | 0.05 | |
Tier 1 Capital (to Average Assets) For Capital Adequacy Purposes Amount | $ 39,155 | $ 37,294 | ||
Tier 1 Capital (to Average Assets) For Capital Adequacy Purposes Ratio | 0.04 | 0.04 | ||
[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 20 - Related Party Trans_2
Note 20 - Related Party Transactions (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Percentage of Related Party Ownership in Other Entities for Grant of Loan | 10.00% | |
Loans and Leases Receivable, Related Parties, Ending Balance | $ 100,000 | $ 150,000 |
Related Party Deposit Liabilities | 469,000 | 1,100,000 |
Due from Affiliates | $ 39,000 | $ 0 |
Note 21 - Fair Value and Inte_3
Note 21 - Fair Value and Interest Rate Risk (Details Textual) | Dec. 31, 2019$ / shares |
Federal Home Loan Bank Certificates and Obligations (FHLB) [Member] | |
Stock Value Par or Stated Value per Share (in dollars per share) | $ 100 |
Note 21 - Fair Value and Inte_4
Note 21 - Fair Value and Interest Rate Risk - Financial Assets and Liabilities (Details) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Fair value, total | $ 48,317,000 | $ 39,496,000 | |
SBA servicing assets | 201,000 | $ 0 | |
Interest rate swap receivable | 694,000 | 286,000 | |
Reported Value Measurement [Member] | |||
Financial assets, total | 921,374,000 | 895,546,000 | |
Financial liabilities, total | 903,186,000 | 876,862,000 | |
Estimate of Fair Value Measurement [Member] | |||
Financial assets, total | 914,414,000 | 885,360,000 | |
Financial liabilities, total | 907,534,000 | 875,279,000 | |
Fair Value, Inputs, Level 1 [Member] | Reported Value Measurement [Member] | Brokered Deposits [Member] | |||
Deposits | 229,909,000 | 183,600,000 | |
Fair Value, Inputs, Level 1 [Member] | Reported Value Measurement [Member] | Cash and Due from Banks [Member] | |||
Cash and cash equivalents | 2,693,000 | 7,381,000 | |
Fair Value, Inputs, Level 1 [Member] | Reported Value Measurement [Member] | Interest-bearing Deposits [Member] | |||
Cash and cash equivalents | 36,711,000 | 59,056,000 | |
Fair Value, Inputs, Level 1 [Member] | Estimate of Fair Value Measurement [Member] | Brokered Deposits [Member] | |||
Deposits | 230,073,000 | 183,120,000 | |
Fair Value, Inputs, Level 1 [Member] | Estimate of Fair Value Measurement [Member] | Cash and Due from Banks [Member] | |||
Cash and cash equivalents | 2,693,000 | 7,381,000 | |
Fair Value, Inputs, Level 1 [Member] | Estimate of Fair Value Measurement [Member] | Interest-bearing Deposits [Member] | |||
Cash and cash equivalents | 36,711,000 | 59,056,000 | |
Fair Value, Inputs, Level 2 [Member] | Reported Value Measurement [Member] | |||
Fair value, total | 48,317,000 | 39,496,000 | |
Other investments | 4,450,000 | 4,963,000 | |
Federal Reserve Bank stock | 2,897,000 | 2,866,000 | |
Federal Home Loan Bank stock | 4,477,000 | 4,928,000 | |
SBA loans held for sale | 15,282,000 | ||
Accrued interest receivable | 3,603,000 | 3,766,000 | |
FHLB borrowings | 100,000,000 | 100,000,000 | |
Senior notes | 11,853,000 | 11,778,000 | |
Subordinated debt | 9,752,000 | 9,723,000 | |
Junior subordinated debt owed to unconsolidated trust | 8,102,000 | 8,094,000 | |
Accrued interest payable | 1,971,000 | 1,605,000 | |
Interest rate swap liability | 694,000 | 286,000 | |
Fair Value, Inputs, Level 2 [Member] | Reported Value Measurement [Member] | Demand Deposits [Member] | |||
Deposits | 88,135,000 | 84,471,000 | |
Fair Value, Inputs, Level 2 [Member] | Reported Value Measurement [Member] | Savings Deposits [Member] | |||
Deposits | 64,020,000 | 81,912,000 | |
Fair Value, Inputs, Level 2 [Member] | Reported Value Measurement [Member] | Money Market Deposits [Member] | |||
Deposits | 99,115,000 | 85,197,000 | |
Fair Value, Inputs, Level 2 [Member] | Reported Value Measurement [Member] | Negotiable Order of Withdrawal (NOW) Accounts [Member] | |||
Deposits | 26,864,000 | 26,100,000 | |
Fair Value, Inputs, Level 2 [Member] | Reported Value Measurement [Member] | Time Deposits [Member] | |||
Deposits | 261,492,000 | 282,001,000 | |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | |||
Fair value, total | 48,317,000 | 39,496,000 | |
Other investments | 4,450,000 | 4,963,000 | |
Federal Reserve Bank stock | 2,897,000 | 2,866,000 | |
Federal Home Loan Bank stock | 4,477,000 | 4,928,000 | |
SBA loans held for sale | 16,733,000 | ||
Accrued interest receivable | 3,603,000 | 3,766,000 | |
FHLB borrowings | 103,962,000 | 101,369,000 | |
Senior notes | 11,722,000 | 11,293,000 | |
Subordinated debt | 9,747,000 | 9,348,000 | |
Junior subordinated debt owed to unconsolidated trust | 8,102,000 | 8,094,000 | |
Accrued interest payable | 1,971,000 | 1,605,000 | |
Interest rate swap liability | 694,000 | 286,000 | |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | Demand Deposits [Member] | |||
Deposits | 88,135,000 | 84,471,000 | |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | Savings Deposits [Member] | |||
Deposits | 64,020,000 | 81,912,000 | |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | Money Market Deposits [Member] | |||
Deposits | 99,115,000 | 85,197,000 | |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | Negotiable Order of Withdrawal (NOW) Accounts [Member] | |||
Deposits | 26,864,000 | 26,100,000 | |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | Time Deposits [Member] | |||
Deposits | 261,914,000 | 280,538,000 | |
Fair Value, Inputs, Level 3 [Member] | |||
SBA servicing assets | 37,000 | ||
Fair Value, Inputs, Level 3 [Member] | Reported Value Measurement [Member] | |||
Loans receivable, net | 802,049,000 | 772,767,000 | |
SBA servicing assets | 201,000 | 37,000 | |
Note payable | 1,193,000 | 1,388,000 | |
Contingent consideration liability | 86,000 | 707,000 | |
Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value Measurement [Member] | |||
Loans receivable, net | 793,559,000 | 762,581,000 | |
SBA servicing assets | 280,000 | 37,000 | |
Note payable | 1,129,000 | 1,239,000 | |
Contingent consideration liability | $ 86,000 | $ 707,000 |
Note 21 - Fair Value and Inte_5
Note 21 - Fair Value and Interest Rate Risk - Financial Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Sep. 30, 2019 | Dec. 31, 2018 |
Available-for-sale securities | $ 48,317 | $ 39,496 | |
Interest rate swap receivable | 694 | 286 | |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | |||
Available-for-sale securities | 16,685 | 20,473 | |
Corporate Debt Securities [Member] | |||
Available-for-sale securities | 17,313 | 12,974 | |
Subordinated Notes [Member] | |||
Available-for-sale securities | 9,204 | 4,564 | |
SBA Loan Pools [Member] | |||
Available-for-sale securities | 5,115 | ||
US Treasury Securities [Member] | |||
Available-for-sale securities | 1,485 | ||
Fair Value, Recurring [Member] | |||
Available-for-sale securities | 48,317 | 39,496 | |
Impaired PCI Loans, net | 176 | 615 | |
Contingent consideration liability | 86 | 707 | |
Interest rate swap receivable | 694 | 286 | |
Interest rate swap liability | 694 | 286 | |
Fair Value, Recurring [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | |||
Available-for-sale securities | 16,685 | 20,473 | |
Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | |||
Available-for-sale securities | 17,313 | 12,974 | |
Fair Value, Recurring [Member] | Subordinated Notes [Member] | |||
Available-for-sale securities | 9,204 | 4,564 | |
Fair Value, Recurring [Member] | SBA Loan Pools [Member] | |||
Available-for-sale securities | 5,115 | ||
Fair Value, Recurring [Member] | US Treasury Securities [Member] | |||
Available-for-sale securities | $ 1,485 | ||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member] | |||
Available-for-sale securities | |||
Impaired PCI Loans, net | |||
Contingent consideration liability | |||
Interest rate swap receivable | |||
Interest rate 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] | SBA Loan Pools [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 | 48,317 | 39,496 | |
Impaired PCI Loans, net | |||
Contingent consideration liability | |||
Interest rate swap receivable | 694 | 286 | |
Interest rate swap liability | 694 | 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 | 16,685 | 20,473 | |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | |||
Available-for-sale securities | 17,313 | 12,974 | |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | Subordinated Notes [Member] | |||
Available-for-sale securities | 9,204 | 4,564 | |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | SBA Loan Pools [Member] | |||
Available-for-sale securities | 5,115 | ||
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | US Treasury Securities [Member] | |||
Available-for-sale securities | 1,485 | ||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member] | |||
Available-for-sale securities | |||
Impaired PCI Loans, net | 176 | 615 | |
Contingent consideration liability | 86 | 707 | |
Interest rate swap receivable | |||
Interest rate 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] | SBA Loan Pools [Member] | |||
Available-for-sale securities | |||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member] | US Treasury Securities [Member] | |||
Available-for-sale securities |
Note 21 - Fair Value and Inte_6
Note 21 - Fair Value and Interest Rate Risk - Quantitative Information About Level 3 Fair Value Measurements (Details) | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) |
SBA servicing assets | $ 201,000 | $ 0 | |
Fair Value, Inputs, Level 3 [Member] | |||
SBA servicing assets | $ 37,000 | ||
Fair Value, Inputs, Level 3 [Member] | Minimum [Member] | Measurement Input, Discount Rate [Member] | |||
SBA servicing assets | 0.1473 | ||
Fair Value, Inputs, Level 3 [Member] | Maximum [Member] | Measurement Input, Discount Rate [Member] | |||
SBA servicing assets | 0.149 | ||
Fair Value, Inputs, Level 3 [Member] | Fair Value of Collateral Approach [Member] | |||
Impaired loans, net | 18,132,000 | $ 19,673,000 | |
Other Real Estate Owned | $ 2,400,000 | $ 2,945,000 | |
Fair Value, Inputs, Level 3 [Member] | Fair Value of Collateral Approach [Member] | Measurement Input, Discount Rate [Member] | |||
Other Real Estate Owned | 0.12 | 0.14 | |
Fair Value, Inputs, Level 3 [Member] | Fair Value of Collateral Approach [Member] | Minimum [Member] | Measurement Input, Discount Rate [Member] | |||
Impaired loans, net | 0.08 | 0.08 | |
Fair Value, Inputs, Level 3 [Member] | Fair Value of Collateral Approach [Member] | Maximum [Member] | Measurement Input, Discount Rate [Member] | |||
Impaired loans, net | 0.2 | 0.21 | |
Fair Value, Inputs, Level 3 [Member] | Valuation Technique, Discounted Cash Flow [Member] | |||
SBA servicing assets | $ 280,000 | ||
Fair Value, Inputs, Level 3 [Member] | Valuation Technique, Discounted Cash Flow [Member] | Minimum [Member] | Measurement Input, Discount Rate [Member] | |||
SBA servicing assets | 0.1473 | ||
Fair Value, Inputs, Level 3 [Member] | Valuation Technique, Discounted Cash Flow [Member] | Maximum [Member] | Measurement Input, Discount Rate [Member] | |||
SBA servicing assets | 0.149 |
Note 22 - Parent Company-only_3
Note 22 - Parent Company-only Financial Statements - Condensed Balance Sheets (Details) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Noninterest bearing deposits and cash | $ 2,693,000 | $ 7,381,000 | ||
Other assets | 9,526,000 | 4,816,000 | ||
Total assets | 979,836,000 | 951,696,000 | ||
Borrowings | 130,900,000 | 131,000,000 | ||
Shareholders' equity | 66,994,000 | 69,340,000 | $ 66,749,000 | $ 62,570,000 |
Total liabilities and shareholders' equity | 979,836,000 | 951,696,000 | ||
Parent Company [Member] | ||||
Noninterest bearing deposits and cash | 667,000 | 2,443,000 | ||
Investment in subsidiary | 96,235,000 | 96,883,000 | ||
Other assets | 564,000 | 59,000 | ||
Total assets | 97,466,000 | 99,385,000 | ||
Borrowings | 29,707,000 | 29,595,000 | ||
Accrued expenses and other liabilities | 765,000 | 450,000 | ||
Shareholders' equity | 66,994,000 | 69,340,000 | ||
Total liabilities and shareholders' equity | $ 97,466,000 | $ 99,385,000 |
Note 22 - Parent Company-only_4
Note 22 - Parent Company-only Financial Statements - Condensed Statements of Income and Comprehensive Income (Details) - USD ($) | 3 Months Ended | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Interest on subordinated debt | $ 1,118,000 | $ 767,000 | $ 360,000 | |
Interest on senior debt | 915,000 | 915,000 | 915,000 | |
Total interest expense | 18,218,000 | 12,378,000 | 6,956,000 | |
Other operating expense | 2,092,000 | 1,661,000 | 1,452,000 | |
Loss before benefit for income taxes | (3,716,000) | 4,086,000 | 7,022,000 | |
Benefit for income taxes | (899,000) | 890,000 | 2,875,000 | |
Net income (loss) | $ (1,500,000) | (2,817,000) | 3,196,000 | 4,147,000 |
Total comprehensive income | (2,394,000) | 2,525,000 | 4,112,000 | |
Parent Company [Member] | ||||
Interest on subordinated debt | 476,000 | 454,000 | 371,000 | |
Interest on senior debt | 1,571,000 | 1,242,000 | 915,000 | |
Total interest expense | 2,047,000 | 1,696,000 | 1,286,000 | |
Other operating expense | 214,000 | 313,000 | 208,000 | |
Loss before benefit for income taxes | 2,261,000 | 2,009,000 | 1,494,000 | |
Benefit for income taxes | (504,000) | |||
Loss before equity in undistributed net income of subsidiary | 1,757,000 | 2,009,000 | 1,494,000 | |
Equity in undistributed net (loss) income of subsidiary | (1,060,000) | 5,205,000 | 5,641,000 | |
Net income (loss) | (2,817,000) | 3,196,000 | 4,147,000 | |
Equity in subsidiary other comprehensive income (loss), net of subsidiary | 423,000 | (671,000) | (35,000) | |
Total comprehensive income | $ (2,394,000) | $ 2,525,000 | $ 4,112,000 |
Note 22 - Parent Company-only_5
Note 22 - Parent Company-only Financial Statements - Condensed Statements of Cash Flows (Details) - USD ($) | 3 Months Ended | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Net income (loss) | $ (1,500,000) | $ (2,817,000) | $ 3,196,000 | $ 4,147,000 |
Share-based compensation | 214,000 | 220,000 | 146,000 | |
Amortization of debt issuance costs | 112,000 | 97,000 | 82,000 | |
Increase in other assets | (1,180,000) | (981,000) | (2,000) | |
Increase in accrued expenses and other liabilities | 251,000 | 211,000 | 278,000 | |
Net cash used in operating activities | (11,915,000) | 5,272,000 | 7,290,000 | |
Net cash used in investing activities | (41,777,000) | (26,882,000) | (140,850,000) | |
Purchases of treasury stock | (2,000) | |||
Dividends paid on common stock | (155,000) | (154,000) | (77,000) | |
Net cash (used in) provided by financing activities | 26,659,000 | 39,318,000 | 90,000,000 | |
Net (decrease) increase in cash and cash equivalents | (27,033,000) | 17,708,000 | (43,560,000) | |
Cash and cash equivalents at beginning of period | 66,437,000 | 48,729,000 | 92,289,000 | |
Cash and cash equivalents at end of period | 39,404,000 | 39,404,000 | 66,437,000 | 48,729,000 |
Cash paid for interest | 17,740,000 | 11,246,000 | 6,424,000 | |
Cash paid for income taxes | 22,000 | 1,243,000 | 515,000 | |
Parent Company [Member] | ||||
Net income (loss) | (2,817,000) | 3,196,000 | 4,147,000 | |
Equity in undistributed loss (income) of subsidiary | 1,060,000 | (5,205,000) | (5,641,000) | |
Share-based compensation | 214,000 | 220,000 | 146,000 | |
Amortization of debt issuance costs | 112,000 | 97,000 | 82,000 | |
Increase in other assets | (505,000) | (13,000) | ||
Increase in accrued expenses and other liabilities | 315,000 | 61,000 | 32,000 | |
Net cash used in operating activities | (1,621,000) | (1,631,000) | (1,247,000) | |
Net increase in investment in Patriot Bank N.A. | (7,800,000) | |||
Net cash used in investing activities | (7,800,000) | |||
Proceeds from issuance of senior notes, net | 9,709,000 | |||
Purchases of treasury stock | (2,000) | |||
Dividends paid on common stock | (155,000) | (154,000) | (77,000) | |
Net cash (used in) provided by financing activities | (155,000) | 9,555,000 | (79,000) | |
Net (decrease) increase in cash and cash equivalents | (1,776,000) | 124,000 | (1,326,000) | |
Cash and cash equivalents at beginning of period | 2,443,000 | 2,319,000 | 3,645,000 | |
Cash and cash equivalents at end of period | $ 667,000 | 667,000 | 2,443,000 | 2,319,000 |
Cash paid for interest | 1,593,000 | 1,600,000 | 1,203,000 | |
Cash paid for income taxes |