Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2018 | May 01, 2018 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Mar. 31, 2018 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q1 | |
Entity Registrant Name | SIERRA BANCORP | |
Entity Central Index Key | 1,130,144 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Trading Symbol | BSRR | |
Entity Common Stock, Shares Outstanding | 15,255,100 |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
ASSETS | ||
Cash and due from banks | $ 56,221 | $ 61,142 |
Interest-bearing deposits in banks | 7,288 | 8,995 |
Total cash & cash equivalents | 63,509 | 70,137 |
Securities available-for-sale | 563,582 | 558,329 |
Loans and leases: | ||
Gross loans and leases | 1,592,216 | 1,557,820 |
Allowance for loan and lease losses | (8,991) | (9,043) |
Deferred loan and lease costs, net | 2,953 | 2,774 |
Net loans and leases | 1,586,178 | 1,551,551 |
Foreclosed assets | 5,371 | 5,481 |
Premises and equipment, net | 29,060 | 29,388 |
Goodwill | 27,357 | 27,357 |
Other intangible assets, net | 6,004 | 6,234 |
Company owned life insurance | 47,590 | 47,108 |
Other assets | 44,873 | 44,713 |
Total assets | 2,373,524 | 2,340,298 |
Deposits: | ||
Non-interest bearing | 642,363 | 635,434 |
Interest bearing | 1,394,267 | 1,352,952 |
Total deposits | 2,036,630 | 1,988,386 |
Repurchase agreements | 12,529 | 8,150 |
Federal funds purchased | 300 | 0 |
Short-term borrowings | 5,800 | 21,900 |
Subordinated debentures, net | 34,633 | 34,588 |
Other liabilities | 28,312 | 31,332 |
Total liabilities | 2,118,204 | 2,084,356 |
Commitments and contingent liabilities (Note 8) | ||
Shareholders' equity | ||
Common stock, no par value; 24,000,000 shares authorized; 15,246,780 and 15,223,360 shares issued and outstanding at March 31, 2018 and December 31, 2017, respectively | 111,599 | 111,138 |
Additional paid-in capital | 2,929 | 2,937 |
Retained earnings | 148,469 | 144,197 |
Accumulated other comprehensive loss, net | (7,677) | (2,330) |
Total shareholders' equity | 255,320 | 255,942 |
Total liabilities and shareholder's equity | $ 2,373,524 | $ 2,340,298 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares | Mar. 31, 2018 | Dec. 31, 2017 |
Statement Of Financial Position [Abstract] | ||
Common Stock, No Par Value | $ 0 | $ 0 |
Common Stock, Shares Authorized | 24,000,000 | 24,000,000 |
Common Stock, Shares, Issued | 15,246,780 | 15,223,360 |
Common Stock, Shares, Outstanding | 15,246,780 | 15,223,360 |
CONSOLIDATED STATEMENTS OF INCO
CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Interest and dividend income | ||
Loans and leases, including fees | $ 20,004 | $ 14,970 |
Taxable securities | 2,338 | 2,008 |
Tax-exempt securities | 1,016 | 805 |
Federal funds sold and other | 118 | 119 |
Total interest income | 23,476 | 17,902 |
Interest expense | ||
Deposits | 1,318 | 689 |
Short-term borrowings | 13 | 10 |
Subordinated debentures | 385 | 320 |
Total interest expense | 1,716 | 1,019 |
Net interest income | 21,760 | 16,883 |
Provision for loan losses | 200 | 0 |
Net interest income after provision for loan losses | 21,560 | 16,883 |
Non-interest income | ||
Service charges on deposits | 2,946 | 2,571 |
Net gains on sale of securities available-for-sale | 0 | 8 |
Other income | 2,187 | 2,554 |
Total non-interest income | 5,133 | 5,133 |
Other operating expense | ||
Salaries and employee benefits | 9,183 | 7,885 |
Occupancy and equipment | 2,348 | 2,320 |
Other | 6,356 | 5,496 |
Total other operating expense | 17,887 | 15,701 |
Income before taxes | 8,806 | 6,315 |
Provision for income taxes | 2,096 | 1,764 |
Net income | $ 6,710 | $ 4,551 |
PER SHARE DATA | ||
Book value | $ 16.75 | $ 15.21 |
Cash dividends | 0.16 | 0.14 |
Earnings per share basic | 0.44 | 0.33 |
Earnings per share diluted | $ 0.44 | $ 0.32 |
Average shares outstanding, basic | 15,232,696 | 13,801,635 |
Average shares outstanding, diluted | 15,412,168 | 14,009,496 |
Total shareholder equity (in thousands) | $ 255,320 | $ 210,417 |
Shares outstanding | 15,246,780 | 13,829,649 |
Dividends paid (in thousands) | $ 2,437 | $ 1,931 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | ||
Statement Of Income And Comprehensive Income [Abstract] | |||
Net income | $ 6,710 | $ 4,551 | |
Unrealized (losses) gains on securities: | |||
Unrealized holding (loss) gain arising during period | (7,592) | 1,410 | |
Less: reclassification adjustment for gains included in net income | [1] | (8) | |
Other comprehensive (loss) income, before tax | (7,592) | 1,402 | |
Income tax expense related to items of other comprehensive income (loss), net of tax | 2,245 | (590) | |
Other comprehensive (loss) income | (5,347) | 812 | |
Comprehensive income | $ 1,363 | $ 5,363 | |
[1] | Amounts are included in net gains on investment securities available-for-sale on the Consolidated Statements of Income in non-interest revenue. Income tax expense associated with the reclassification adjustment for the three months ended March 31, 2018 and 2017 was $0 thousand and $3 thousand respectively. |
CONSOLIDATED STATEMENTS OF COM6
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Statement Of Income And Comprehensive Income [Abstract] | ||
Reclassification adjustment for gain on securities available-for-sale included in net income, tax | $ 0 | $ 3 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Cash flows from operating activities: | ||
Net income | $ 6,710,000 | $ 4,551,000 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Gain on sales of securities | 0 | (8,000) |
Loss on disposal of fixed assets | 0 | 3,000 |
Gain on sale on foreclosed assets | 0 | (13,000) |
Writedowns on foreclosed assets | 110,000 | 98,000 |
Share-based compensation expense | 76,000 | 423,000 |
Provision for loan losses | 200,000 | 0 |
Depreciation and amortization | 785,000 | 719,000 |
Net amortization on securities premiums and discounts | 1,423,000 | 1,758,000 |
Accretion of discounts for loans acquired | (356,000) | (298,000) |
Increase in cash surrender value of life insurance policies | (204,000) | (452,000) |
Amortization of core deposit intangible | 230,000 | 107,000 |
Decrease in interest receivable and other assets | 2,633,000 | 226,000 |
(Decrease) increase in other liabilities | (3,020,000) | 982,000 |
Deferred income tax benefit | (953,000) | (111,000) |
Net amortization of partnership investment | 405,000 | 0 |
Net cash provided by operating activities | 8,039,000 | 7,985,000 |
Cash flows from investing activities: | ||
Proceeds from sales/calls of securities available for sale | 200,000 | 12,905,000 |
Purchases of securities available for sale | (36,750,000) | (59,511,000) |
Principal pay downs on securities available for sale | 22,282,000 | 25,086,000 |
Loan originations and payments, net | (34,471,000) | 26,817,000 |
Purchases of premises and equipment, net | (412,000) | (803,000) |
Proceeds from sales of foreclosed assets | 0 | 29,000 |
Purchase of company owned life insurance | (278,000) | (221,000) |
Net cash from bank acquisition | (6,000) | 0 |
Net cash (used in) provided by investing activities | (49,435,000) | 4,302,000 |
Cash flows from financing activities: | ||
Increase in deposits | 48,244,000 | 24,950,000 |
Decrease in borrowed funds | (16,100,000) | (65,000,000) |
Increase in Fed funds purchased | 300,000 | 0 |
Increase in repurchase agreements | 4,379,000 | 1,337,000 |
Cash dividends paid | (2,437,000) | (1,931,000) |
Stock options exercised | 382,000 | 683,000 |
Net cash provided by (used in) financing activities | 34,768,000 | (39,961,000) |
Decrease in cash and due from banks | (6,628,000) | (27,674,000) |
Cash and cash equivalents, Beginning of period | 70,137,000 | 120,442,000 |
Cash and cash equivalents, End of period | $ 63,509,000 | $ 92,768,000 |
The Business of Sierra Bancorp
The Business of Sierra Bancorp | 3 Months Ended |
Mar. 31, 2018 | |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | |
The Business of Sierra Bancorp | Note 1 – The Business of Sierra Bancorp Sierra Bancorp (the “Company”) is a California corporation headquartered in Porterville, California, and is a registered bank holding company under federal banking laws. The Company was formed to serve as the holding company for Bank of the Sierra (the “Bank”), and has been the Bank’s sole shareholder since August 2001. The Company exists primarily for the purpose of holding the stock of the Bank and of such other subsidiaries it may acquire or establish. As of March 31, 2018, the Company’s only other subsidiaries were Sierra Statutory Trust II, Sierra Capital Trust III, and Coast Bancorp Statutory Trust II, which were formed solely to facilitate the issuance of capital trust pass-through securities (“TRUPS”). Pursuant to the Financial Accounting Standards Board (“FASB”) standard on the consolidation of variable interest entities, these trusts are not reflected on a consolidated basis in the Company’s financial statements. References herein to the “Company” include Sierra Bancorp and its consolidated subsidiary, the Bank, unless the context indicates otherwise. Bank of the Sierra, a California state-chartered bank headquartered in Porterville, California, offers a full range of retail and commercial banking services via branch offices located throughout California’s South San Joaquin Valley, the Central Coast, Ventura County, and neighboring communities. The Bank was incorporated in September 1977, and opened for business in January 1978 as a one-branch bank with $1.5 million in capital. Our growth in the ensuing years has largely been organic in nature, but includes four whole-bank acquisitions: Sierra National Bank in 2000, Santa Clara Valley Bank in 2014, Coast National Bank in 2016, and Ojai Community Bank in October 2017. We plan to open a new branch on Palm Avenue in Fresno in mid-2018, and have an agreement with Community Bank of Santa Maria to acquire its branch located in Lompoc, California in the second quarter of 2018. Lompoc branch deposits totaled almost $40 million at March 31, 2018, consisting largely of non-maturity deposits. As of the filing date of this report the Bank operates 39 full service branches and an online branch, and maintains ATMs at all branch locations and seven non-branch locations. Details on our most recent acquisitions and planned branch purchase are provided in Note 13 to the financial statements, Recent Developments. In addition to our stand-alone offices the Bank has specialized lending units which include a real estate industries center, an agricultural credit center, and an SBA lending unit. We were close to $2.4 billion in total assets as of March 31, 2018, and for the past several years have claimed the distinction of being the largest bank headquartered in the South San Joaquin Valley. The Bank’s deposit accounts, which totaled over $2.0 billion at March 31, 2018, are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to maximum insurable amounts. |
Basis of Presentation
Basis of Presentation | 3 Months Ended |
Mar. 31, 2018 | |
Basis Of Presentation [Abstract] | |
Basis of Presentation | Note 2 – Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared in a condensed format, and therefore do not include all of the information and footnotes required by U.S. generally accepted accounting principles (“GAAP”) for complete financial statements. The information furnished in these interim statements reflects all adjustments that are, in the opinion of Management, necessary for a fair statement of the results for such periods. Such adjustments can generally be considered as normal and recurring unless otherwise disclosed in this Form 10-Q. In preparing the accompanying financial statements, Management has taken subsequent events into consideration and recognized them where appropriate. The results of operations in the interim statements are not necessarily indicative of the results that may be expected for any other quarter, or for the full year. Certain amounts reported for 2017 have been reclassified to be consistent with the reporting for 2018. The interim financial information should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2017, as filed with the Securities and Exchange Commission (the “SEC”). |
Current Accounting Developments
Current Accounting Developments | 3 Months Ended |
Mar. 31, 2018 | |
New Accounting Pronouncements And Changes In Accounting Principles [Abstract] | |
Current Accounting Developments | Note 3 – Current Accounting Developments In May 2014 the FASB issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers (Topic 606) In January 2016 the FASB issued ASU 2016-01, Financial Instruments–Overall: Recognition and Measurement of Financial Assets and Financial Liabilities In February 2016 the FASB issued ASU 2016-02, Leases (Topic 842) In March 2016 the FASB issued ASU 2016-09, Compensation–Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting In September 2016 the FASB issued ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments In January 2017 the FASB issued ASU 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business In January 2017 the FASB issued ASU 2017-04, Intangibles – Goodwill and Other (Topic 350): Simplifying the Accounting for Goodwill Impairment In March 2017 the FASB issued ASU 2017-08, Receivables – Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities In May 2017 the FASB issued ASU 2017-09, Compensation—Stock Compensation (Topic 718): Scope of Modification Accounting In February 2018 the FASB issued ASU 2018-02, Income Statement–Reporting Comprehensive Income (Topic 220) Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. In February 2018 the FASB issued ASU 2018-03, Technical Corrections and Improvements to Financial Instruments–Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. Financial Instruments Derivatives and Hedging |
Supplemental Disclosure of Cash
Supplemental Disclosure of Cash Flow Information | 3 Months Ended |
Mar. 31, 2018 | |
Supplemental Cash Flow Information [Abstract] | |
Supplemental Disclosure of Cash Flow Information | Note 4 – Supplemental Disclosure of Cash Flow Information During the three months ended March 31, 2018 and 2017, cash paid for interest due on interest-bearing liabilities was $1.874 million and $1.070 million, respectively. There was no cash paid for income taxes during the three months ended March 31, 2018 or 2017. There were no assets acquired in settlement of loans for the three months ended March 31, 2018, relative to $94,000 during the three months ended March 31, 2017. We received no cash from the sale of foreclosed assets during the first three months of 2018 relative to $29,000 during the first three months of 2017, which represents sales proceeds less loans (if any) extended to finance such sales. |
Share Based Compensation
Share Based Compensation | 3 Months Ended |
Mar. 31, 2018 | |
Share Based Compensation [Abstract] | |
Share Based Compensation | Note 5 – Share Based Compensation On March 16, 2017 the Company’s Board of Directors approved and adopted the 2017 Stock Incentive Plan (the “2017 Plan”), which became effective May 24, 2017, the date approved by the Company’s shareholders. The 2017 Plan replaced the Company’s 2007 Stock Incentive Plan (the “2007 Plan”), which expired by its own terms on March 15, 2017. Options to purchase 424,300 shares that were granted under the 2007 Plan were still outstanding as of March 31, 2018, and remain unaffected by that plan’s expiration. The 2017 Plan provides for the issuance of both “incentive” and “nonqualified” stock options to officers and employees, and of “nonqualified” stock options to non-employee directors and consultants of the Company. The 2017 Plan also provides for the issuance of restricted stock awards to these same classes of eligible participants, although no restricted stock awards have ever been issued by the Company. The total number of shares of the Company’s authorized but unissued stock reserved for issuance pursuant to awards under the 2017 Plan was initially 850,000 shares, and the number remaining available for grant as of March 31, 2018 was 766,000. The dilutive impact of stock options outstanding is discussed below in Note 6, Earnings per Share. Pursuant to FASB’s standards on stock compensation, the value of each stock option granted is reflected in our income statement as employee compensation or directors’ expense by expensing its fair value as of the grant date in the case of immediately vested options, or by amortizing its grant date fair value over the vesting period for options with graded vesting. The Company is utilizing the Black-Scholes model to value stock options, and the “multiple option” approach is used to allocate the resulting valuation to actual expense. Under the multiple option approach an employee’s options for each vesting period are separately valued and amortized. A pre-tax charge of $76,000 was reflected in the Company’s income statement during the first quarter of 2018 and $423,000 was charged during the first quarter of 2017, as expense related to stock options. |
Earnings per Share
Earnings per Share | 3 Months Ended |
Mar. 31, 2018 | |
Earnings Per Share [Abstract] | |
Earnings per Share | Note 6 – Earnings per Share The computation of earnings per share, as presented in the Consolidated Statements of Income, is based on the weighted average number of shares outstanding during each period. There were 15,232,696 weighted average shares outstanding during the first quarter of 2018, and 13,801,635 during the first quarter of 2017. Diluted earnings per share include the effect of the potential issuance of common shares, which for the Company is limited to shares that would be issued on the exercise of “in-the-money” stock options. For the first quarter of 2018, calculations under the treasury stock method resulted in the equivalent of 179,472 shares being added to basic weighted average shares outstanding for purposes of determining diluted earnings per share, while a weighted average of 169,000 stock options were excluded from the calculation because they were underwater and thus anti-dilutive. For the first quarter of 2017 the equivalent of 207,861 shares were added in calculating diluted earnings per share, while 90,000 anti-dilutive stock options were not factored into the computation. |
Comprehensive Income
Comprehensive Income | 3 Months Ended |
Mar. 31, 2018 | |
Comprehensive Income Net Of Tax [Abstract] | |
Comprehensive Income | Note 7 – Comprehensive Income As presented in the Consolidated Statements of Comprehensive Income, comprehensive income includes net income and other comprehensive income. The Company’s only source of other comprehensive income is unrealized gains and losses on available-for-sale investment securities. Gains or losses on investment securities that were realized and reflected in net income of the current period, which had previously been included in other comprehensive income as unrealized holding gains or losses in the period in which they arose, are considered to be reclassification adjustments that are excluded from other comprehensive income in the current period. |
Financial Instruments with Off-
Financial Instruments with Off-Balance-Sheet Risk | 3 Months Ended |
Mar. 31, 2018 | |
Financial Instruments With Off Balance Sheet Risk [Abstract] | |
Financial Instruments with Off-Balance-Sheet Risk | Note 8 – Financial Instruments with Off-Balance-Sheet Risk The Company is a party to financial instruments with off‑balance‑sheet risk in the normal course of business. Those financial instruments currently consist of unused commitments to extend credit and standby letters of credit. They involve, to varying degrees, elements of risk in excess of the amount recognized in the balance sheet. The Company’s exposure to credit loss in the event of nonperformance by counterparties for commitments to extend credit and letters of credit is represented by the contractual amount of those instruments. The Company uses the same credit policies in making commitments and issuing letters of credit as it does for originating loans included on the balance sheet. The following financial instruments represent off‑balance‑sheet credit risk (dollars in thousands): March 31, 2018 December 31, 2017 Commitments to extend credit $ 686,472 $ 691,712 Standby letters of credit $ 9,992 $ 9,168 Commitments to extend credit consist primarily of the unused or unfunded portions of the following: home equity lines of credit; commercial real estate construction loans, where disbursements are made over the course of construction; commercial revolving lines of credit; mortgage warehouse lines of credit; unsecured personal lines of credit; and formalized (disclosed) deposit account overdraft lines. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since many commitments are expected to expire without being drawn upon, the unused portions of committed amounts do not necessarily represent future cash requirements. Standby letters of credit are issued by the Company to guarantee the performance of a customer to a third party, and the credit risk involved in issuing letters of credit is essentially the same as the risk involved in extending loans to customers. At March 31, 2018, the Company was also utilizing a letter of credit in the amount of $86 million issued by the Federal Home Loan Bank on the Company’s behalf as security for certain deposits and to facilitate certain credit arrangements with the Company’s customers. That letter of credit is backed by loans which are pledged to the FHLB by the Company. |
Fair Value Disclosures and Repo
Fair Value Disclosures and Reporting, the Fair Value Option and Fair Value Measurements | 3 Months Ended |
Mar. 31, 2018 | |
Fair Value Disclosures [Abstract] | |
Fair Value Disclosures and Reporting, the Fair Value Option and Fair Value Measurements | Note 9 – Fair Value Disclosures and Reporting, the Fair Value Option and Fair Value Measurements FASB’s standards on financial instruments, and on fair value measurements and disclosures, require public business entities to disclose in their financial statement footnotes the estimated fair values of financial instruments. In addition to disclosure requirements, FASB’s standard on investments requires that our debt securities which are classified as available for sale and any equity securities that have readily determinable fair values be measured and reported at fair value in our statement of financial position. Certain impaired loans are also reported at fair value, as explained in greater detail below, and foreclosed assets are carried at the lower of cost or fair value. Deposits include demand deposits, which are by definition equal to the amount payable on demand at the reporting date. FASB’s standard on financial instruments permits companies to report certain other financial assets and liabilities at fair value, but we have not elected the fair value option for any of those financial instruments. Fair value measurement and disclosure standards also establish a framework for measuring fair values. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability, in an orderly transaction between market participants on the measurement date. Further, the standards establish a fair value hierarchy that encourages an entity to maximize the use of observable inputs and limit the use of unobservable inputs when measuring fair values. The standards describe three levels of inputs that may be used to measure fair values: • Level 1 • Level 2 • Level 3 Fair value estimates are made at a specific point in time based on relevant market data and information about the financial instruments. As discussed in Note 3 to the Consolidated Financial Statements, we adopted ASU 2016-01 for the first quarter of 2018, thus fair value calculations for loans and leases at March 31, 2018 reflect exit pricing, and incorporate our assumptions with regard to the impact of prepayments on future cash flows and credit quality adjustments based on risk characteristics of various financial instruments, among other things. This is not entirely comparable with fair values disclosed as of December 31, 2017, which were estimated primarily by discounting estimated cash flows at current market interest rates (entry pricing). The estimates at both dates are subjective and involve uncertainties and matters of significant judgment, and therefore cannot be determined with precision. Changes in assumptions could significantly alter the fair values presented. Estimated fair values for the Company’s financial instruments are as follows, as of the dates noted: Fair Value of Financial Instruments (dollars in thousands, unaudited) March 31, 2018 Fair Value Measurements Carrying Amount Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Financial assets: Cash and cash equivalents $ 63,509 $ 63,507 $ — $ — $ 63,507 Investment securities available for sale 563,582 — 563,582 — 563,582 Loans and leases, net held for investment 1,585,880 — 1,559,992 — 1,559,992 Collateral dependent impaired loans 298 — 298 — 298 Cash surrender value of life insurance policies 47,590 — 47,590 — 47,590 Financial liabilities: Deposits 2,036,630 642,363 1,393,754 — 2,036,117 Subordinated debentures 34,633 — 24,377 — 24,377 December 31, 2017 Fair Value Measurements Carrying Amount Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Financial assets: Cash and cash equivalents $ 70,137 $ 70,141 $ — $ — $ 70,141 Investment securities available for sale 558,329 — 558,329 — 558,329 Loans and leases, net held for investment 1,551,174 — 1,563,765 — 1,563,765 Collateral dependent impaired loans 377 — 377 — 377 Cash surrender value of life insurance policies 47,108 — 47,108 — 47,108 Financial liabilities: Deposits 1,988,386 635,434 1,352,740 — 1,988,174 Subordinated debentures 34,588 — 24,216 — 24,216 For financial asset categories that were carried on our balance sheet at fair value as of March 31, 2018 and December 31, 2017, the Company used the following methods and significant assumptions: • Investment securities • Collateral-dependent impaired loans • Foreclosed assets Assets reported at fair value on a recurring basis are summarized below: Fair Value Measurements - Recurring (dollars in thousands, unaudited) Fair Value Measurements at March 31, 2018, using Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Realized Gain/(Loss) (Level 3) Securities: US Government agencies $ — $ 19,725 $ — $ 19,725 $ — Mortgage-backed securities — 401,984 — 401,984 — State and political subdivisions — 141,873 — 141,873 — Total available-for-sale securities $ — $ 563,582 $ — $ 563,582 $ — Fair Value Measurements at December 31, 2017, using Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Realized Gain/(Loss) (Level 3) Securities: US Government agencies $ — $ 21,326 $ — $ 21,326 $ — Mortgage-backed securities — 393,802 — 393,802 — State and political subdivisions — 143,201 — 143,201 — Total available-for-sale securities $ — $ 558,329 $ — $ 558,329 $ — Assets reported at fair value on a nonrecurring basis are summarized below: Fair Value Measurements - Nonrecurring (dollars in thousands, unaudited) Fair Value Measurements at March 31, 2018, using Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Impaired loans Real Estate: 1-4 family residential construction $ — $ — $ — $ — Other construction/land — — — — 1-4 family - closed-end — 5 — 5 Equity lines — 111 — 111 Multi-family residential — — — — Commercial real estate - owner occupied — — — — Commercial real estate - non-owner occupied — — — — Farmland — — — — Total real estate — 116 — 116 Agriculture — — — — Commercial and industrial — 112 — 112 Consumer loans — 70 — 70 Total impaired loans $ — $ 298 $ — $ 298 Foreclosed assets $ — $ 5,371 $ — $ 5,371 Total assets measured on a nonrecurring basis $ — $ 5,669 $ — $ 5,669 Fair Value Measurements at December 31, 2017, using Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Impaired loans Real Estate: 1-4 family residential construction $ — $ — $ — $ — Other construction/land — — — — 1-4 family - closed-end — 252 — 252 Equity lines — 70 — 70 Multi-family residential — — — — Commercial real estate - owner occupied — — — — Commercial real estate - non-owner occupied — — — — Farmland — — — — Total real estate — 322 — 322 Agriculture — — — — Commercial and industrial — — — — Consumer loans — 55 — 55 Total impaired loans $ — $ 377 $ — $ 377 Foreclosed assets $ — $ 5,481 $ — $ 5,481 Total assets measured on a nonrecurring basis $ — $ 5,858 $ — $ 5,858 The table above includes collateral-dependent impaired loan balances for which a specific reserve has been established or on which a write-down has been taken. Information on the Company’s total impaired loan balances and specific loss reserves associated with those balances is included in Note 11 below, and in Management’s Discussion and Analysis of Financial Condition and Results of Operation in the “Nonperforming Assets” and “Allowance for Loan and Lease Losses” sections. The unobservable inputs are based on Management’s best estimates of appropriate discounts in arriving at fair market value. Adjusting any of those inputs could result in a significantly lower or higher fair value measurement. For example, an increase or decrease in actual loss rates would create a directionally opposite change in the fair value of unsecured impaired loans. |
Investments
Investments | 3 Months Ended |
Mar. 31, 2018 | |
Investments Debt And Equity Securities [Abstract] | |
Investments | Note 10 – Investments Investment Securities Although the Company currently has the intent and the ability to hold the securities in its investment portfolio to maturity, the securities are all marketable and are classified as “available for sale” to allow maximum flexibility with regard to interest rate risk and liquidity management. Pursuant to FASB’s guidance on accounting for debt and equity securities, available for sale securities are carried on the Company’s financial statements at their estimated fair market values, with monthly tax-effected “mark-to-market” adjustments made vis-à-vis accumulated other comprehensive income in shareholders’ equity. The amortized cost and estimated fair value of investment securities available-for-sale are as follows: Amortized Cost And Estimated Fair Value (dollars in thousands, unaudited) March 31, 2018 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value US Government agencies $ 20,173 $ 15 $ (463 ) $ 19,725 Mortgage-backed securities 412,457 536 (11,009 ) 401,984 State and political subdivisions 141,851 1,287 (1,265 ) 141,873 Total securities $ 574,481 $ 1,838 $ (12,737 ) $ 563,582 December 31, 2017 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value US Government agencies $ 21,524 $ 70 $ (268 ) $ 21,326 Mortgage-backed securities 399,203 816 (6,217 ) 393,802 State and political subdivisions 140,909 2,673 (381 ) 143,201 Total securities $ 561,636 $ 3,559 $ (6,866 ) $ 558,329 At March 31, 2018 and December 31, 2017, the Company had 543 securities and 396 securities, respectively, with gross unrealized losses. Management has evaluated those securities as of the respective dates, and does not believe that any of the unrealized losses are other than temporary. Gross unrealized losses on our investment securities as of the indicated dates are disclosed in the table below, categorized by investment type and by the duration of time that loss positions on individual securities have continuously existed (over or under twelve months). Investment Portfolio - Unrealized Losses (dollars in thousands, unaudited) March 31, 2018 Less than twelve months Twelve months or more Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value US Government agencies $ (120 ) $ 8,653 $ (343 ) $ 8,935 Mortgage-backed securities (4,854 ) 210,808 (6,155 ) 163,928 State and political subdivisions (734 ) 53,770 (531 ) 11,536 Total $ (5,708 ) $ 273,231 $ (7,029 ) $ 184,399 December 31, 2017 Less than twelve months Twelve months or more Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value US Government agencies $ (79 ) $ 8,154 $ (189 ) $ 7,100 Mortgage-backed securities (2,420 ) 188,885 (3,797 ) 158,344 State and political subdivisions (89 ) 16,218 (292 ) 11,562 Total $ (2,588 ) $ 213,257 $ (4,278 ) $ 177,006 The table below summarizes the Company’s gross realized gains and losses as well as gross proceeds from the sales of securities, for the periods indicated: Investment Portfolio - Realized Gains/(Losses) (dollars in thousands, unaudited) Three months ended March 31, 2018 2017 Proceeds from sales, calls and maturities of securities available for sale $ 200 $ 12,905 Gross gains on sales, calls and maturities of securities available for sale $ — $ 43 Gross losses on sales, calls and maturities of securities available for sale — (35 ) Net gains on sale of securities available for sale $ — $ 8 The amortized cost and estimated fair value of investment securities available-for-sale at March 31, 2018 and December 31, 2017 are shown below, grouped by the remaining time to contractual maturity dates. The expected life of investment securities may not be consistent with contractual maturity dates, since the issuers of the securities might have the right to call or prepay obligations with or without penalties. Estimated Fair Value of Contractual Maturities (dollars in thousands, unaudited) March 31, 2018 Amortized Cost Fair Value Maturing within one year $ 9,906 $ 9,978 Maturing after one year through five years 223,672 219,895 Maturing after five years through ten years 50,882 50,715 Maturing after ten years 76,382 75,645 Securities not due at a single maturity date: US Government agencies collateralized by mortgage obligations 213,639 207,349 $ 574,481 $ 563,582 December 31, 2017 Amortized Cost Fair Value Maturing within one year $ 8,991 $ 9,085 Maturing after one year through five years 235,714 234,381 Maturing after five years through ten years 45,075 45,645 Maturing after ten years 76,471 77,423 Securities not due at a single maturity date: US Government agencies collateralized by mortgage obligations 195,385 191,795 $ 561,636 $ 558,329 At March 31, 2018, the Company’s investment portfolio included 338 “muni” bonds issued by government municipalities and agencies located within 31 different states, with an aggregate fair value of $142 million. The largest exposure to any single municipality or agency was a combined $2.540 million (fair value) in general obligation bonds issued by the Lindsay (CA) Unified School District. The Company’s investments in bonds issued by states, municipalities and political subdivisions are evaluated in accordance with Supervision and Regulation Letter 12-15 issued by the Board of Governors of the Federal Reserve System, “Investing in Securities without Reliance on Nationally Recognized Statistical Rating Organization Ratings,” and other regulatory guidance. Credit ratings are considered in our analysis only as a guide to the historical default rate associated with similarly-rated bonds. There have been no significant differences in our internal analyses compared with the ratings assigned by the third party credit rating agencies. The following table summarizes the amortized cost and fair values of general obligation and revenue bonds in the Company’s investment securities portfolio at the indicated dates, identifying the state in which the issuing municipality or agency operates for our largest geographic concentrations: Revenue and General Obligation Bonds by Location (dollars in thousands, unaudited) March 31, 2018 December 31, 2017 Amortized Fair Market Amortized Fair Market General obligation bonds Cost Value Cost Value State of issuance Texas $ 33,950 $ 33,645 $ 32,824 $ 33,184 California 27,220 27,618 27,205 28,027 Washington 13,250 13,212 13,282 13,524 Ohio 9,890 9,834 9,917 9,978 Illinois 9,216 9,205 8,822 8,925 Other (22 states) 25,576 25,618 24,591 24,971 Total General Obligation Bonds 119,102 119,132 116,641 118,609 Revenue bonds State of issuance Texas 6,614 6,622 7,088 7,172 Utah 5,389 5,366 5,397 5,454 Indiana 2,051 2,046 2,664 2,721 Washington 1,761 1,774 1,764 1,811 Virginia 1,608 1,576 1,613 1,626 Other (11 states) 5,326 5,357 5,742 5,808 Total Revenue Bonds 22,749 22,741 24,268 24,592 Total Obligations of States and Political Subdivisions $ 141,851 $ 141,873 $ 140,909 $ 143,201 The revenue bonds in the Company’s investment securities portfolios were issued by government municipalities and agencies to fund public services such as utilities (water, sewer, and power), educational facilities, and general public and economic improvements. The primary sources of revenue for these bonds are delineated in the table below, which shows the amortized cost and fair market values for the largest revenue concentrations as of the indicated dates. Revenue Bonds by Type (dollars in thousands, unaudited) March 31, 2018 December 31, 2017 Amortized Fair Market Amortized Fair Market Revenue bonds Cost Value Cost Value Revenue source: Water $ 6,412 $ 6,397 $ 5,160 $ 5,230 Sales Tax 2,950 2,917 4,375 4,417 College & University 2,351 2,382 3,649 3,715 Lease 2,313 2,326 3,657 3,706 Local or GTD Housing 1,523 1,492 2,076 2,116 Other (13 sources) 7,200 7,227 5,351 5,408 Total Revenue Bonds $ 22,749 $ 22,741 $ 24,268 $ 24,592 Low-Income Housing Tax Credit (“LIHTC”) Fund Investments The Company has the ability to invest in limited partnerships which own housing projects that qualify for federal and/or California state tax credits, by mandating a specified percentage of low-income tenants for each project. The tax credits flow through to investors, supplementing any returns that might be derived from an increase in property values. Because rent levels are lower than standard market rents and the projects are generally highly leveraged, each project also typically generates tax-deductible operating losses that are allocated to the limited partners. The Company made investment commitments to nine different LIHTC fund limited partnerships from 2001 through 2017, all of which were California-focused funds that help the Company meet its obligations under the Community Reinvestment Act. We utilize the cost method of accounting for our LIHTC fund investments, under which we initially record on our balance sheet an asset that represents the total cash expected to be invested over the life of the partnership. Any commitments or contingent commitments for future investment are reflected as a liability. The income statement reflects tax credits and any other tax benefits from these investments “below the line” within our income tax provision, while the initial book value of the investment is amortized on a straight-line basis as an offset to non-interest income, over the time period in which the tax credits and tax benefits are expected to be received. As of March 31, 2018 our total LIHTC investment book balance was $8.0 million, which includes $3.2 million in remaining commitments for additional capital contributions. There were $160,000 in tax credits derived from our LIHTC investments that were recognized during the three months ended March 31, 2018, and amortization expense of $405,000 associated with those investments was netted against pre-tax non-interest income for the same time period. Our LIHTC investments are evaluated annually for potential impairment, and we have concluded that the carrying value of the investments is stated fairly and is not impaired. |
Credit Quality and Nonperformin
Credit Quality and Nonperforming Assets | 3 Months Ended |
Mar. 31, 2018 | |
Credit Quality And Nonperforming Assets [Abstract] | |
Credit Quality and Nonperforming Assets | Note 11 – Credit Quality and Nonperforming Assets Credit Quality Classifications The Company monitors the credit quality of loans on a continuous basis using the regulatory and accounting classifications of pass, special mention, substandard and impaired to characterize the associated credit risk. Balances classified as “loss” are immediately charged off. The Company conforms to the following definitions for its risk classifications: • Pass • Special mention • Substandard • Impaired Credit quality classifications for the Company’s loan balances were as follows, as of the dates indicated: Credit Quality Classifications (dollars in thousands, unaudited) March 31, 2018 Pass Special Mention Substandard Impaired Total Real Estate: 1-4 family residential construction $ 81,580 $ — $ — $ — $ 81,580 Other construction/land 76,533 253 — 507 77,293 1-4 family - closed end 220,192 1,531 1,220 3,982 226,925 Equity lines 53,292 2,468 351 4,538 60,649 Multi-family residential 42,184 — — 385 42,569 Commercial real estate - owner occupied 252,844 4,909 2,605 903 261,261 Commercial real estate - non-owner occupied 388,716 2,823 3,879 1,539 396,957 Farmland 141,927 464 505 33 142,929 Total real estate 1,257,268 12,448 8,560 11,887 1,290,163 Agricultural 53,644 626 — — 54,270 Commercial and industrial 117,026 10,274 967 1,504 129,771 Mortgage warehouse 108,573 — — — 108,573 Consumer loans 8,192 292 36 919 9,439 Total gross loans and leases $ 1,544,703 $ 23,640 $ 9,563 $ 14,310 $ 1,592,216 December 31, 2017 Pass Special Mention Substandard Impaired Total Real Estate: 1-4 family residential construction $ 74,256 $ — $ — $ — $ 74,256 Other construction/land 57,421 807 — 551 58,779 1-4 family - closed end 197,309 1,534 1,204 4,719 204,766 Equity lines 53,825 3,620 521 4,624 62,590 Multi-family residential 42,539 — — 391 42,930 Commercial real estate - owner occupied 255,228 4,586 2,715 918 263,447 Commercial real estate - non-owner occupied 369,801 4,923 3,132 1,576 379,432 Farmland 138,732 984 507 293 140,516 Total real estate 1,189,111 16,454 8,079 13,072 1,226,716 Agricultural 46,182 614 — — 46,796 Commercial and industrial 108,609 24,008 981 2,064 135,662 Mortgage warehouse 138,020 — — — 138,020 Consumer loans 9,067 210 72 1,277 10,626 Total gross loans and leases $ 1,490,989 $ 41,286 $ 9,132 $ 16,413 $ 1,557,820 Past Due and Nonperforming Assets Nonperforming assets are comprised of loans for which the Company is no longer accruing interest, and foreclosed assets. The Company’s foreclosed assets can include mobile homes and/or OREO, which consists of commercial and/or residential real estate properties acquired by foreclosure or similar means that the Company is offering or will offer for sale. Foreclosed assets totaled $5.371 million at March 31, 2018, and $5.481 million at December 31, 2017. Nonperforming loans and leases result when reasonable doubt surfaces with regard to the ability of the Company to collect all principal and interest. At that point, we stop accruing interest on the loan or lease in question and reverse any previously-recognized interest to the extent that it is uncollected or associated with interest-reserve loans. Any asset for which principal or interest has been in default for 90 days or more is also placed on non-accrual status even if interest is still being received, unless the asset is both well secured and in the process of collection. An aging of the Company’s loan balances is presented in the following tables, by number of days past due as of the indicated dates: Loan Portfolio Aging (dollars in thousands, unaudited) March 31, 2018 30-59 Days Past Due 60-89 Days Past Due 90 Days Or More Past Due (1) Total Past Due Current Total Financing Receivables Non-Accrual Loans (2) Real Estate: 1-4 family residential construction $ — $ — $ — $ — $ 81,580 $ 81,580 $ — Other construction/land 317 — — 317 76,976 77,293 71 1-4 family - closed end 39 319 601 959 225,966 226,925 910 Equity lines 831 55 208 1,094 59,555 60,649 646 Multi-family residential — — — — 42,569 42,569 — Commercial real estate - owner occupied 188 110 — 298 260,963 261,261 227 Commercial real estate - non-owner occupied — — — — 396,957 396,957 105 Farmland 18 — — 18 142,911 142,929 33 Total real estate 1,393 484 809 2,686 1,287,477 1,290,163 1,992 Agricultural — — — — 54,270 54,270 — Commercial and industrial 2,240 92 859 3,191 126,580 129,771 963 Mortgage warehouse lines — — — — 108,573 108,573 — Consumer 151 56 37 244 9,195 9,439 134 Total gross loans and leases $ 3,784 $ 632 $ 1,705 $ 6,121 $ 1,586,095 $ 1,592,216 $ 3,089 (1) As of March 31, 2018 there were no loans over 90 days past due and still accruing. (2) Included in total financing receivables December 31, 2017 30-59 Days Past Due 60-89 Days Past Due 90 Days Or More Past Due (1) Total Past Due Current Total Financing Receivables Non-Accrual Loans (2) Real Estate: 1-4 family residential construction $ — $ — $ — $ — $ 74,256 $ 74,256 $ — Other construction/land 20 — — 20 58,759 58,779 77 1-4 family - closed end 125 — 895 1,020 203,746 204,766 871 Equity lines 466 — 203 669 61,921 62,590 922 Multi-family residential — — — — 42,930 42,930 — Commercial real estate - owner occupied 1,270 — — 1,270 262,177 263,447 236 Commercial real estate - non-owner occupied — — — — 379,432 379,432 123 Farmland — — — — 140,516 140,516 293 Total real estate 1,881 — 1,098 2,979 1,223,737 1,226,716 2,522 Agricultural — — — — 46,796 46,796 — Commercial and industrial 730 496 1,172 2,398 133,264 135,662 1,301 Mortgage warehouse lines — — — — 138,020 138,020 — Consumer 157 64 46 267 10,359 10,626 140 Total gross loans and leases $ 2,768 $ 560 $ 2,316 $ 5,644 $ 1,552,176 $ 1,557,820 $ 3,963 (1) As of December 31, 2017 there were no loans over 90 days past due and still accruing. (2) Included in total financing receivables Troubled Debt Restructurings A loan that is modified for a borrower who is experiencing financial difficulty is classified as a troubled debt restructuring if the modification constitutes a concession. At March 31, 2018, the Company had a total of $12.1 million in TDRs, including $895,000 in TDRs that were on non-accrual status. Generally, a non-accrual loan that has been modified as a TDR remains on non-accrual status for a period of at least six months to demonstrate the borrower’s ability to comply with the modified terms. However, performance prior to the modification, or significant events that coincide with the modification, could result in a loan’s return to accrual status after a shorter performance period or even at the time of loan modification. Regardless of the period of time that has elapsed, if the borrower’s ability to meet the revised payment schedule is uncertain then the loan will be kept on non-accrual status. Moreover, a TDR is generally considered to be in default when it appears that the customer will not likely be able to repay all principal and interest pursuant to restructured terms. The Company may agree to different types of concessions when modifying a loan or lease. The tables below summarize TDRs which were modified during the noted periods, by type of concession: Troubled Debt Restructurings, by Type of Loan Modification (dollars in thousands, unaudited) Three months ended March 31, 2018 Term Modification Interest Only Modification Rate & Term Modification Total Real Estate: Other construction/land $ — $ — $ — $ — 1-4 family - closed-end — — — — Equity lines 68 — — 68 Multi-family residential — — — — Commercial real estate - owner occupied — — — — Farmland — — — — Total real estate loans 68 — — 68 Commercial and industrial — — — — Consumer loans — — — — Total $ 68 $ — $ — $ 68 Three months ended March 31, 2017 Term Modification Interest Only Modification Rate & Term Modification Total Real Estate: Other construction/land $ — $ — $ — $ — 1-4 family - closed-end — — 47 47 Equity lines 281 — — 281 Multi-family residential — — — — Commercial real estate - owner occupied — — — — Farmland — — — — Total real estate loans 281 — 47 328 Commercial and industrial — — — — Consumer loans — — — — Total $ 281 $ — $ 47 $ 328 The following tables present, by class, additional details related to loans classified as TDRs during the referenced periods, including the recorded investment in the loan both before and after modification and balances that were modified during the period: Troubled Debt Restructurings (dollars in thousands, unaudited) Three months ended March 31, 2018 Pre- Modification Post- Modification Number of Loans Outstanding Recorded Investment Outstanding Recorded Investment Reserve Difference⁽¹⁾ Reserve Real Estate: Other construction/land 0 $ — $ — $ — $ — 1-4 family - closed-end 0 — — — — Equity lines 1 68 68 — 2 Multi-family residential 0 — — — — Commercial real estate - owner occupied 0 — — — — Farmland 0 — — — — Total real estate loans 68 68 — 2 Commercial and industrial 0 — — — — Consumer loans 0 — — — — Total $ 68 $ 68 $ — $ 2 (1) This represents the change in the ALLL reserve for these credits measured as the difference between the specific post-modification impairment reserve and the pre-modification reserve calculated under our general allowance for loan loss methodology. Three months ended March 31, 2017 Pre- Modification Post- Modification Number of Loans Outstanding Recorded Investment Outstanding Recorded Investment Reserve Difference⁽¹⁾ Reserve Real Estate: Other construction/land 0 $ — $ — $ — $ — 1-4 family - closed-end 1 47 47 2 2 Equity lines 2 281 281 4 14 Multi-family residential 0 — — — — Commercial real estate - owner occupied 0 — — — — Farmland 0 — — — — Total real estate loans 328 328 6 16 Commercial and industrial 0 — — — — Consumer loans 0 — — — — Total $ 328 $ 328 $ 6 $ 16 (1) This represents the change in the ALLL reserve for these credits measured as the difference between the specific post-modification impairment reserve and the pre-modification reserve calculated under our general allowance for loan loss methodology. The company had no finance receivables modified as TDRs within the previous twelve months that defaulted or were charged off during the three-month periods ended March 31, 2018 and 2017. Purchased Credit Impaired Loans The Company may acquire loans which show evidence of credit deterioration since origination. These purchased credit impaired (“PCI”) loans are recorded at the amount paid, since there is no carryover of the seller’s allowance for loan losses. Potential losses on PCI loans subsequent to acquisition are recognized by an increase in the allowance for loan losses. PCI loans are accounted for individually or are aggregated into pools of loans based on common risk characteristics. The Company projects the amount and timing of expected cash flows, and expected cash receipts in excess of the amount paid for the loan(s) are recorded as interest income over the remaining life of the loan or pool of loans (accretable yield). The excess of contractual principal and interest over expected cash flows is not recorded (nonaccretable difference). Expected cash flows are periodically re-evaluated throughout the life of the loan or pool of loans. If the present value of the expected cash flows is determined at any time to be less than the carrying amount, a reserve is recorded. If the present value of the expected cash flows is greater than the carrying amount, it is recognized as part of future interest income. Our acquisitions of Santa Clara Valley Bank in 2014, Coast Bancorp in 2016, and OCB Bancorp in 2017 included certain loans which have shown evidence of credit deterioration since origination, and for which it was probable at acquisition that all contractually required payments would not be collected. The carrying amount and unpaid principal balance of those PCI loans was as follows, as of the dates indicated: Purchased Credit Impaired Loans: (dollars in thousands, unaudited) March 31, 2018 Unpaid Principal Balance Carrying Value Real estate secured $ 147 $ 12 Commercial and industrial — — Total purchased credit impaired loans $ 147 $ 12 December 31, 2017 Unpaid Principal Balance Carrying Value Real estate secured $ 148 $ 17 Commercial and industrial — — Total purchased credit impaired loans $ 148 $ 17 An allowance for loan losses totaling $135,000 was allocated for PCI loans as of March 31, 2018, as compared to $131,000 at December 31, 2017. There was no discount accretion recorded on PCI loans during the three months ended March 31, 2018. |
Allowance for Loan and Lease Lo
Allowance for Loan and Lease Losses | 3 Months Ended |
Mar. 31, 2018 | |
Provision For Loan And Lease Losses [Abstract] | |
Allowance for Loan and Lease Losses | Note 12 – Allowance for Loan and Lease Losses The Company’s allowance for loan and lease losses, a contra-asset, is established through a provision for loan and lease losses. The allowance is maintained at a level that is considered adequate to absorb probable losses on certain specifically identified impaired loans, as well as probable incurred losses inherent in the remaining loan portfolio. Specifically identifiable and quantifiable losses are immediately charged off against the allowance; recoveries are generally recorded only when cash payments are received subsequent to the charge off. We employ a systematic methodology, consistent with FASB guidelines on loss contingencies and impaired loans, for determining the appropriate level of the allowance for loan and lease losses and adjusting it to that level at least quarterly. Pursuant to our methodology, impaired loans and leases are individually analyzed and a criticized asset action plan is completed specifying the financial status of the borrower and, if applicable, the characteristics and condition of collateral and any associated liquidation plan. A specific loss allowance is created for each impaired loan, if necessary. The following tables disclose the unpaid principal balance, recorded investment, average recorded investment, and interest income recognized for impaired loans on our books as of the dates indicated. Balances are shown by loan type, and are further broken out by those that required an allowance and those that did not, with the associated allowance disclosed for those that required such. Included in the valuation allowance for impaired loans shown in the tables below are specific reserves allocated to TDRs, totaling $911,000 at March 31, 2018 and $957,000 at December 31, 2017. Impaired Loans (dollars in thousands, unaudited) March 31, 2018 Unpaid Principal Balance (1) Recorded Investment (2) Related Allowance Average Recorded Investment Interest Income Recognized (3) With an allowance recorded Real Estate: Other construction/land $ 636 $ 480 $ 27 $ 725 $ 9 1-4 family - closed-end 3,056 3,056 68 3,148 43 Equity lines 4,325 4,240 483 4,457 47 Multi-family residential 385 385 28 399 5 Commercial real estate- owner occupied 911 791 169 885 13 Commercial real estate- non-owner occupied 1,686 1,539 3 1,839 27 Total real estate 10,999 10,491 778 11,453 144 Agriculture — — — — — Commercial and industrial 1,677 1,482 958 1,971 11 Consumer loans 941 894 158 1,089 17 Subtotal 13,617 12,867 1,894 14,513 172 With no related allowance recorded Real Estate: Other construction/land 27 27 — 32 — 1-4 family - closed-end 984 926 — 1,025 1 Equity lines 397 298 — 408 — Commercial real estate- owner occupied 112 112 — 150 — Commercial real estate- non-owner occupied 9 — — 17 — Farmland 33 33 — 48 — Total real estate 1,562 1,396 — 1,680 1 Agriculture — — — — — Commercial and industrial 22 22 — 34 — Consumer loans 130 25 — 196 — Subtotal 1,714 1,443 — 1,910 1 Total $ 15,331 $ 14,310 $ 1,894 $ 16,423 $ 173 (1) Contractual principal balance due from customer. (2) Principal balance on Company's books, less any direct charge offs. (3) Interest income is recognized on performing balances on a regular accrual basis. Impaired Loans (dollars in thousands, unaudited) December 31, 2017 Unpaid Principal Balance (1) Recorded Investment (2) Related Allowance Average Recorded Investment Interest Income Recognized (3) With an allowance recorded Real Estate: Other construction/land $ 678 $ 523 $ 30 $ 768 $ 44 1-4 family - closed-end 4,061 4,054 109 4,042 226 Equity lines 4,546 4,446 405 4,711 154 Multi-family residential 390 391 29 410 24 Commercial real estate- owner occupied 926 801 151 948 44 Commercial real estate- non-owner occupied 1,724 1,576 4 1,914 111 Total real estate 12,325 11,791 728 12,793 603 Agriculture — — — — — Commercial and industrial 917 917 188 1,576 83 Consumer loans 1,210 1,201 237 1,433 96 Subtotal 14,452 13,909 1,153 15,802 782 With no related allowance recorded Real Estate: Other construction/land 28 28 — 34 — 1-4 family - closed-end 885 665 — 746 2 Equity lines 206 178 — 208 — Commercial real estate- owner occupied 117 117 — 157 — Commercial real estate- non-owner occupied 10 — — 25 — Farmland 293 293 — 327 — Total real estate 1,539 1,281 — 1,497 2 Agriculture — — — — — Commercial and industrial 1,158 1,147 — 1,433 — Consumer loans 230 76 — 317 — Subtotal 2,927 2,504 — 3,247 2 Total $ 17,379 $ 16,413 $ 1,153 $ 19,049 $ 784 ( 1) Contractual principal balance due from customer. (2) Principal balance on Company's books, less any direct charge offs. (3) Interest income is recognized on performing balances on a regular accrual basis . The specific loss allowance for an impaired loan generally represents the difference between the book value of the loan and either the fair value of underlying collateral less estimated disposition costs, or the loan’s net present value as determined by a discounted cash flow analysis. The discounted cash flow approach is typically used to measure impairment on loans for which it is anticipated that repayment will be provided from cash flows other than those generated solely by the disposition or operation of underlying collateral. However, historical loss rates may be used to determine a specific loss allowance if they indicate a higher potential reserve need than the discounted cash flow analysis. Any change in impairment attributable to the passage of time is accommodated by adjusting the loss allowance accordingly. For loans where repayment is expected to be provided by the disposition or operation of the underlying collateral, impairment is measured using the fair value of the collateral. If the collateral value, net of the expected costs of disposition where applicable, is less than the loan balance, then a specific loss reserve is established for the shortfall in collateral coverage. If the discounted collateral value is greater than or equal to the loan balance, no specific loss reserve is required. At the time a collateral-dependent loan is designated as nonperforming, a new appraisal is ordered and typically received within 30 to 60 days if a recent appraisal is not already available. We generally use external appraisals to determine the fair value of the underlying collateral for nonperforming real estate loans, although the Company’s licensed staff appraisers may update older appraisals based on current market conditions and property value trends. Until an updated appraisal is received, the Company uses the existing appraisal to determine the amount of the specific loss allowance that may be required. The specific loss allowance is adjusted, as necessary, once a new appraisal is received. Updated appraisals are generally ordered at least annually for collateral-dependent loans that remain impaired. Current appraisals were available or in process for 94% of the Company’s impaired real estate loan balances at March 31, 2018. Furthermore, the Company analyzes collateral-dependent loans on at least a quarterly basis, to determine if any portion of the recorded investment in such loans can be identified as uncollectible and would therefore constitute a confirmed loss. All amounts deemed to be uncollectible are promptly charged off against the Company’s allowance for loan and lease losses, with the loan then carried at the fair value of the collateral, as appraised, less estimated costs of disposition if applicable. Once a charge-off or write-down is recorded, it will not be restored to the loan balance on the Company’s accounting books. Our methodology also provides for the establishment of a “general” allowance for probable incurred losses inherent in loans and leases that are not impaired. Unimpaired loan balances are segregated by credit quality, and are then evaluated in pools with common characteristics. At the present time, pools are based on the same segmentation of loan types presented in our regulatory filings. While this methodology utilizes historical loss data and other measurable information, the credit classification of loans and the establishment of the allowance for loan and lease losses are both to some extent based on Management’s judgment and experience. Our methodology incorporates a variety of risk considerations, both quantitative and qualitative, in establishing an allowance for loan and lease losses that Management believes is appropriate at each reporting date. Quantitative information includes our historical loss experience, delinquency and charge-off trends, and current collateral values. Qualitative factors include the general economic environment in our markets and, in particular, the condition of the agricultural industry and other key industries. Lending policies and procedures (including underwriting standards), the experience and abilities of lending staff, the quality of loan review, credit concentrations (by geography, loan type, industry and collateral type), the rate of loan portfolio growth, and changes in legal or regulatory requirements are additional factors that are considered. The total general reserve established for probable incurred losses on unimpaired loans was $7.097 million at March 31, 2018. There were no material changes to the methodology used to determine our allowance for loan and lease losses during the three months ended March 31, 2018, although minor adjustments were made to certain qualitative factor multipliers. As we add new products and expand our geographic coverage, and as the regulatory and economic environments change, we expect to enhance our methodology to keep pace with the size and complexity of the loan and lease portfolio and respond to pressures created by external forces. We engage outside firms on a regular basis to assess our methodology and perform independent credit reviews of our loan and lease portfolio. In addition, the Company’s external auditors, the FDIC, and the California DBO review the allowance for loan and lease losses as an integral part of their audit and examination processes. Management believes that the current methodology is appropriate given our size and level of complexity. The tables that follow detail the activity in the allowance for loan and lease losses for the periods noted: Allowance for Credit Losses and Recorded Investment in Financing Receivables (dollars in thousands, unaudited) Three months ended March 31, 2018 Real Estate Agricultural Products Commercial and Industrial Consumer Unallocated Total Allowance for credit losses: Beginning Balance $ 4,786 $ 208 $ 2,772 $ 1,231 $ 46 $ 9,043 Charge-offs (26 ) — (33 ) (565 ) — (624 ) Recoveries 64 — 29 279 — 372 Provision 12 18 137 57 (24 ) 200 Ending Balance $ 4,836 $ 226 $ 2,905 $ 1,002 $ 22 $ 8,991 Reserves: Specific $ 778 $ — $ 958 $ 158 $ — $ 1,894 General 4,058 226 1,947 844 22 7,097 Ending Balance $ 4,836 $ 226 $ 2,905 $ 1,002 $ 22 $ 8,991 Loans evaluated for impairment: Individually $ 11,887 $ — $ 1,504 $ 919 $ — $ 14,310 Collectively 1,278,276 54,270 236,840 8,520 1,577,906 Ending Balance $ 1,290,163 $ 54,270 $ 238,344 $ 9,439 $ — $ 1,592,216 Year ended December 31, 2017 Real Estate Agricultural Products Commercial and Industrial Consumer Unallocated Total Allowance for credit losses: Beginning Balance $ 3,548 $ 209 $ 4,279 $ 1,208 $ 457 $ 9,701 Charge-offs (101 ) (154 ) (669 ) (2,161 ) — (3,085 ) Recoveries 2,235 5 310 1,017 — 3,567 Provision (896 ) 148 (1,148 ) 1,167 (411 ) (1,140 ) Ending Balance $ 4,786 $ 208 $ 2,772 $ 1,231 $ 46 $ 9,043 Reserves: Specific $ 728 $ - $ 188 $ 237 $ — $ 1,153 General 4,058 208 2,584 994 46 7,890 Ending Balance $ 4,786 $ 208 $ 2,772 $ 1,231 $ 46 $ 9,043 Loans evaluated for impairment: Individually $ 13,072 $ — $ 2,064 $ 1,277 $ — $ 16,413 Collectively 1,213,644 46,796 271,618 9,349 — 1,541,407 Ending Balance $ 1,226,716 $ 46,796 $ 273,682 $ 10,626 $ — $ 1,557,820 |
Recent Developments
Recent Developments | 3 Months Ended |
Mar. 31, 2018 | |
Recent Developments [Abstract] | |
Recent Developments | Note 13 – Recent Developments On October 1, 2017, the Company acquired 100% of the outstanding common shares of Ojai Community Bancorp, parent company to Ojai Community Bank (collectively referred to herein as “Ojai”), in exchange for $809,000 in cash and 1,376,431 shares of Sierra Bancorp stock. Immediately thereafter, Ojai Community Bank was merged into Bank of the Sierra. At the time of the acquisition, the fair value of Ojai’s loans and deposits totaled $218 million and $231 million, respectively. In accordance with GAAP, the Company also recorded $18.5 million of goodwill and $3.5 million of core deposit intangibles in connection with the transaction. The core deposit intangible is being amortized on a straight line basis over eight years. The conversion of Ojai’s core banking system to Bank of the Sierra’s core system took place on November 3, 2017. Furthermore, on November 3, 2017 the Company acquired the Woodlake branch of Citizen’s Business Bank. Woodlake branch deposits totaled approximately $27 million at the acquisition date, consisting largely of non-maturity deposits. The acquisition also included the purchase of the Woodlake branch building, the real property on which the building is located, and certain other equipment and fixed assets at their aggregate fair value of $500,000. In accordance with GAAP, the Company recorded $625,000 of goodwill and $486,000 of core deposit intangibles in conjunction with the transaction. The core deposit intangible is being amortized on a straight line basis over eight years. On January 23, 2018, the Bank announced that it has entered into an agreement with Community Bank of Santa Maria to acquire its branch located in Lompoc, California (Santa Barbara County). The transaction is expected to close in May of 2018, subject to customary closing conditions. Subsequent to the acquisition, the Lompoc branch will operate as a full-service branch of Bank of the Sierra. Lompoc branch deposits totaled $40 million at March 31 2018, consisting largely of non-maturity deposits. The acquisition agreement also contemplates that Bank of the Sierra will purchase the Lompoc branch building, the real property on which the building is located, and certain other equipment and fixed assets at their aggregate fair value of $1.7 million. |
Financial Instruments with Of21
Financial Instruments with Off-Balance-Sheet Risk (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Financial Instruments With Off Balance Sheet Risk [Abstract] | |
Schedule of Financial Instruments | . The following financial instruments represent off‑balance‑sheet credit risk (dollars in thousands): March 31, 2018 December 31, 2017 Commitments to extend credit $ 686,472 $ 691,712 Standby letters of credit $ 9,992 $ 9,168 |
Fair Value Disclosures and Re22
Fair Value Disclosures and Reporting, the Fair Value Option and Fair Value Measurements (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Fair Value Disclosures [Abstract] | |
Schedule of carrying amount and estimated fair values of financial instruments | Estimated fair values for the Company’s financial instruments are as follows, as of the dates noted: Fair Value of Financial Instruments (dollars in thousands, unaudited) March 31, 2018 Fair Value Measurements Carrying Amount Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Financial assets: Cash and cash equivalents $ 63,509 $ 63,507 $ — $ — $ 63,507 Investment securities available for sale 563,582 — 563,582 — 563,582 Loans and leases, net held for investment 1,585,880 — 1,559,992 — 1,559,992 Collateral dependent impaired loans 298 — 298 — 298 Cash surrender value of life insurance policies 47,590 — 47,590 — 47,590 Financial liabilities: Deposits 2,036,630 642,363 1,393,754 — 2,036,117 Subordinated debentures 34,633 — 24,377 — 24,377 December 31, 2017 Fair Value Measurements Carrying Amount Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Financial assets: Cash and cash equivalents $ 70,137 $ 70,141 $ — $ — $ 70,141 Investment securities available for sale 558,329 — 558,329 — 558,329 Loans and leases, net held for investment 1,551,174 — 1,563,765 — 1,563,765 Collateral dependent impaired loans 377 — 377 — 377 Cash surrender value of life insurance policies 47,108 — 47,108 — 47,108 Financial liabilities: Deposits 1,988,386 635,434 1,352,740 — 1,988,174 Subordinated debentures 34,588 — 24,216 — 24,216 |
Schedule of assets reported at fair value on a recurring basis | Assets reported at fair value on a recurring basis are summarized below: Fair Value Measurements - Recurring (dollars in thousands, unaudited) Fair Value Measurements at March 31, 2018, using Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Realized Gain/(Loss) (Level 3) Securities: US Government agencies $ — $ 19,725 $ — $ 19,725 $ — Mortgage-backed securities — 401,984 — 401,984 — State and political subdivisions — 141,873 — 141,873 — Total available-for-sale securities $ — $ 563,582 $ — $ 563,582 $ — Fair Value Measurements at December 31, 2017, using Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Realized Gain/(Loss) (Level 3) Securities: US Government agencies $ — $ 21,326 $ — $ 21,326 $ — Mortgage-backed securities — 393,802 — 393,802 — State and political subdivisions — 143,201 — 143,201 — Total available-for-sale securities $ — $ 558,329 $ — $ 558,329 $ — |
Schedule of assets reported at fair value on a nonrecurring basis | Assets reported at fair value on a nonrecurring basis are summarized below: Fair Value Measurements - Nonrecurring (dollars in thousands, unaudited) Fair Value Measurements at March 31, 2018, using Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Impaired loans Real Estate: 1-4 family residential construction $ — $ — $ — $ — Other construction/land — — — — 1-4 family - closed-end — 5 — 5 Equity lines — 111 — 111 Multi-family residential — — — — Commercial real estate - owner occupied — — — — Commercial real estate - non-owner occupied — — — — Farmland — — — — Total real estate — 116 — 116 Agriculture — — — — Commercial and industrial — 112 — 112 Consumer loans — 70 — 70 Total impaired loans $ — $ 298 $ — $ 298 Foreclosed assets $ — $ 5,371 $ — $ 5,371 Total assets measured on a nonrecurring basis $ — $ 5,669 $ — $ 5,669 Fair Value Measurements at December 31, 2017, using Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Impaired loans Real Estate: 1-4 family residential construction $ — $ — $ — $ — Other construction/land — — — — 1-4 family - closed-end — 252 — 252 Equity lines — 70 — 70 Multi-family residential — — — — Commercial real estate - owner occupied — — — — Commercial real estate - non-owner occupied — — — — Farmland — — — — Total real estate — 322 — 322 Agriculture — — — — Commercial and industrial — — — — Consumer loans — 55 — 55 Total impaired loans $ — $ 377 $ — $ 377 Foreclosed assets $ — $ 5,481 $ — $ 5,481 Total assets measured on a nonrecurring basis $ — $ 5,858 $ — $ 5,858 |
Investments (Tables)
Investments (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Investments Debt And Equity Securities [Abstract] | |
Amortized Cost and Estimated Fair Value of Investment Securities Available-For-Sale | The amortized cost and estimated fair value of investment securities available-for-sale are as follows: Amortized Cost And Estimated Fair Value (dollars in thousands, unaudited) March 31, 2018 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value US Government agencies $ 20,173 $ 15 $ (463 ) $ 19,725 Mortgage-backed securities 412,457 536 (11,009 ) 401,984 State and political subdivisions 141,851 1,287 (1,265 ) 141,873 Total securities $ 574,481 $ 1,838 $ (12,737 ) $ 563,582 December 31, 2017 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value US Government agencies $ 21,524 $ 70 $ (268 ) $ 21,326 Mortgage-backed securities 399,203 816 (6,217 ) 393,802 State and political subdivisions 140,909 2,673 (381 ) 143,201 Total securities $ 561,636 $ 3,559 $ (6,866 ) $ 558,329 |
Information Pertaining to Investment Securities Aggregated by Investment Category and Length of Time that Individual Securities in a Continuous Loss Position | Gross unrealized losses on our investment securities as of the indicated dates are disclosed in the table below, categorized by investment type and by the duration of time that loss positions on individual securities have continuously existed (over or under twelve months). Investment Portfolio - Unrealized Losses (dollars in thousands, unaudited) March 31, 2018 Less than twelve months Twelve months or more Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value US Government agencies $ (120 ) $ 8,653 $ (343 ) $ 8,935 Mortgage-backed securities (4,854 ) 210,808 (6,155 ) 163,928 State and political subdivisions (734 ) 53,770 (531 ) 11,536 Total $ (5,708 ) $ 273,231 $ (7,029 ) $ 184,399 December 31, 2017 Less than twelve months Twelve months or more Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value US Government agencies $ (79 ) $ 8,154 $ (189 ) $ 7,100 Mortgage-backed securities (2,420 ) 188,885 (3,797 ) 158,344 State and political subdivisions (89 ) 16,218 (292 ) 11,562 Total $ (2,588 ) $ 213,257 $ (4,278 ) $ 177,006 |
Realized Gain (Loss) on Investments | The table below summarizes the Company’s gross realized gains and losses as well as gross proceeds from the sales of securities, for the periods indicated: Investment Portfolio - Realized Gains/(Losses) (dollars in thousands, unaudited) Three months ended March 31, 2018 2017 Proceeds from sales, calls and maturities of securities available for sale $ 200 $ 12,905 Gross gains on sales, calls and maturities of securities available for sale $ — $ 43 Gross losses on sales, calls and maturities of securities available for sale — (35 ) Net gains on sale of securities available for sale $ — $ 8 |
Investments Classified by Contractual Maturity Date | The amortized cost and estimated fair value of investment securities available-for-sale at March 31, 2018 and December 31, 2017 are shown below, grouped by the remaining time to contractual maturity dates. The expected life of investment securities may not be consistent with contractual maturity dates, since the issuers of the securities might have the right to call or prepay obligations with or without penalties. Estimated Fair Value of Contractual Maturities (dollars in thousands, unaudited) March 31, 2018 Amortized Cost Fair Value Maturing within one year $ 9,906 $ 9,978 Maturing after one year through five years 223,672 219,895 Maturing after five years through ten years 50,882 50,715 Maturing after ten years 76,382 75,645 Securities not due at a single maturity date: US Government agencies collateralized by mortgage obligations 213,639 207,349 $ 574,481 $ 563,582 December 31, 2017 Amortized Cost Fair Value Maturing within one year $ 8,991 $ 9,085 Maturing after one year through five years 235,714 234,381 Maturing after five years through ten years 45,075 45,645 Maturing after ten years 76,471 77,423 Securities not due at a single maturity date: US Government agencies collateralized by mortgage obligations 195,385 191,795 $ 561,636 $ 558,329 |
Summary Of Amortized Cost And Fair Values Of General Obligation And Revenue Bonds Table Text Block | The following table summarizes the amortized cost and fair values of general obligation and revenue bonds in the Company’s investment securities portfolio at the indicated dates, identifying the state in which the issuing municipality or agency operates for our largest geographic concentrations: Revenue and General Obligation Bonds by Location (dollars in thousands, unaudited) March 31, 2018 December 31, 2017 Amortized Fair Market Amortized Fair Market General obligation bonds Cost Value Cost Value State of issuance Texas $ 33,950 $ 33,645 $ 32,824 $ 33,184 California 27,220 27,618 27,205 28,027 Washington 13,250 13,212 13,282 13,524 Ohio 9,890 9,834 9,917 9,978 Illinois 9,216 9,205 8,822 8,925 Other (22 states) 25,576 25,618 24,591 24,971 Total General Obligation Bonds 119,102 119,132 116,641 118,609 Revenue bonds State of issuance Texas 6,614 6,622 7,088 7,172 Utah 5,389 5,366 5,397 5,454 Indiana 2,051 2,046 2,664 2,721 Washington 1,761 1,774 1,764 1,811 Virginia 1,608 1,576 1,613 1,626 Other (11 states) 5,326 5,357 5,742 5,808 Total Revenue Bonds 22,749 22,741 24,268 24,592 Total Obligations of States and Political Subdivisions $ 141,851 $ 141,873 $ 140,909 $ 143,201 Revenue Bonds by Type (dollars in thousands, unaudited) March 31, 2018 December 31, 2017 Amortized Fair Market Amortized Fair Market Revenue bonds Cost Value Cost Value Revenue source: Water $ 6,412 $ 6,397 $ 5,160 $ 5,230 Sales Tax 2,950 2,917 4,375 4,417 College & University 2,351 2,382 3,649 3,715 Lease 2,313 2,326 3,657 3,706 Local or GTD Housing 1,523 1,492 2,076 2,116 Other (13 sources) 7,200 7,227 5,351 5,408 Total Revenue Bonds $ 22,749 $ 22,741 $ 24,268 $ 24,592 |
Credit Quality and Nonperform24
Credit Quality and Nonperforming Assets (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Credit Quality And Nonperforming Assets [Abstract] | |
Credit Quality Classifications for Loan Balances | Credit quality classifications for the Company’s loan balances were as follows, as of the dates indicated: Credit Quality Classifications (dollars in thousands, unaudited) March 31, 2018 Pass Special Mention Substandard Impaired Total Real Estate: 1-4 family residential construction $ 81,580 $ — $ — $ — $ 81,580 Other construction/land 76,533 253 — 507 77,293 1-4 family - closed end 220,192 1,531 1,220 3,982 226,925 Equity lines 53,292 2,468 351 4,538 60,649 Multi-family residential 42,184 — — 385 42,569 Commercial real estate - owner occupied 252,844 4,909 2,605 903 261,261 Commercial real estate - non-owner occupied 388,716 2,823 3,879 1,539 396,957 Farmland 141,927 464 505 33 142,929 Total real estate 1,257,268 12,448 8,560 11,887 1,290,163 Agricultural 53,644 626 — — 54,270 Commercial and industrial 117,026 10,274 967 1,504 129,771 Mortgage warehouse 108,573 — — — 108,573 Consumer loans 8,192 292 36 919 9,439 Total gross loans and leases $ 1,544,703 $ 23,640 $ 9,563 $ 14,310 $ 1,592,216 December 31, 2017 Pass Special Mention Substandard Impaired Total Real Estate: 1-4 family residential construction $ 74,256 $ — $ — $ — $ 74,256 Other construction/land 57,421 807 — 551 58,779 1-4 family - closed end 197,309 1,534 1,204 4,719 204,766 Equity lines 53,825 3,620 521 4,624 62,590 Multi-family residential 42,539 — — 391 42,930 Commercial real estate - owner occupied 255,228 4,586 2,715 918 263,447 Commercial real estate - non-owner occupied 369,801 4,923 3,132 1,576 379,432 Farmland 138,732 984 507 293 140,516 Total real estate 1,189,111 16,454 8,079 13,072 1,226,716 Agricultural 46,182 614 — — 46,796 Commercial and industrial 108,609 24,008 981 2,064 135,662 Mortgage warehouse 138,020 — — — 138,020 Consumer loans 9,067 210 72 1,277 10,626 Total gross loans and leases $ 1,490,989 $ 41,286 $ 9,132 $ 16,413 $ 1,557,820 |
Aging of Loan Balances by Number of Days Past Due | Loan Portfolio Aging (dollars in thousands, unaudited) March 31, 2018 30-59 Days Past Due 60-89 Days Past Due 90 Days Or More Past Due (1) Total Past Due Current Total Financing Receivables Non-Accrual Loans (2) Real Estate: 1-4 family residential construction $ — $ — $ — $ — $ 81,580 $ 81,580 $ — Other construction/land 317 — — 317 76,976 77,293 71 1-4 family - closed end 39 319 601 959 225,966 226,925 910 Equity lines 831 55 208 1,094 59,555 60,649 646 Multi-family residential — — — — 42,569 42,569 — Commercial real estate - owner occupied 188 110 — 298 260,963 261,261 227 Commercial real estate - non-owner occupied — — — — 396,957 396,957 105 Farmland 18 — — 18 142,911 142,929 33 Total real estate 1,393 484 809 2,686 1,287,477 1,290,163 1,992 Agricultural — — — — 54,270 54,270 — Commercial and industrial 2,240 92 859 3,191 126,580 129,771 963 Mortgage warehouse lines — — — — 108,573 108,573 — Consumer 151 56 37 244 9,195 9,439 134 Total gross loans and leases $ 3,784 $ 632 $ 1,705 $ 6,121 $ 1,586,095 $ 1,592,216 $ 3,089 (1) As of March 31, 2018 there were no loans over 90 days past due and still accruing. (2) Included in total financing receivables December 31, 2017 30-59 Days Past Due 60-89 Days Past Due 90 Days Or More Past Due (1) Total Past Due Current Total Financing Receivables Non-Accrual Loans (2) Real Estate: 1-4 family residential construction $ — $ — $ — $ — $ 74,256 $ 74,256 $ — Other construction/land 20 — — 20 58,759 58,779 77 1-4 family - closed end 125 — 895 1,020 203,746 204,766 871 Equity lines 466 — 203 669 61,921 62,590 922 Multi-family residential — — — — 42,930 42,930 — Commercial real estate - owner occupied 1,270 — — 1,270 262,177 263,447 236 Commercial real estate - non-owner occupied — — — — 379,432 379,432 123 Farmland — — — — 140,516 140,516 293 Total real estate 1,881 — 1,098 2,979 1,223,737 1,226,716 2,522 Agricultural — — — — 46,796 46,796 — Commercial and industrial 730 496 1,172 2,398 133,264 135,662 1,301 Mortgage warehouse lines — — — — 138,020 138,020 — Consumer 157 64 46 267 10,359 10,626 140 Total gross loans and leases $ 2,768 $ 560 $ 2,316 $ 5,644 $ 1,552,176 $ 1,557,820 $ 3,963 (1) As of December 31, 2017 there were no loans over 90 days past due and still accruing. (2) Included in total financing receivables |
Troubled Debt Restructurings, by Type of Loan Modification | Troubled Debt Restructurings, by Type of Loan Modification (dollars in thousands, unaudited) Three months ended March 31, 2018 Term Modification Interest Only Modification Rate & Term Modification Total Real Estate: Other construction/land $ — $ — $ — $ — 1-4 family - closed-end — — — — Equity lines 68 — — 68 Multi-family residential — — — — Commercial real estate - owner occupied — — — — Farmland — — — — Total real estate loans 68 — — 68 Commercial and industrial — — — — Consumer loans — — — — Total $ 68 $ — $ — $ 68 Three months ended March 31, 2017 Term Modification Interest Only Modification Rate & Term Modification Total Real Estate: Other construction/land $ — $ — $ — $ — 1-4 family - closed-end — — 47 47 Equity lines 281 — — 281 Multi-family residential — — — — Commercial real estate - owner occupied — — — — Farmland — — — — Total real estate loans 281 — 47 328 Commercial and industrial — — — — Consumer loans — — — — Total $ 281 $ — $ 47 $ 328 The following tables present, by class, additional details related to loans classified as TDRs during the referenced periods, including the recorded investment in the loan both before and after modification and balances that were modified during the period: Troubled Debt Restructurings (dollars in thousands, unaudited) Three months ended March 31, 2018 Pre- Modification Post- Modification Number of Loans Outstanding Recorded Investment Outstanding Recorded Investment Reserve Difference⁽¹⁾ Reserve Real Estate: Other construction/land 0 $ — $ — $ — $ — 1-4 family - closed-end 0 — — — — Equity lines 1 68 68 — 2 Multi-family residential 0 — — — — Commercial real estate - owner occupied 0 — — — — Farmland 0 — — — — Total real estate loans 68 68 — 2 Commercial and industrial 0 — — — — Consumer loans 0 — — — — Total $ 68 $ 68 $ — $ 2 (1) This represents the change in the ALLL reserve for these credits measured as the difference between the specific post-modification impairment reserve and the pre-modification reserve calculated under our general allowance for loan loss methodology. Three months ended March 31, 2017 Pre- Modification Post- Modification Number of Loans Outstanding Recorded Investment Outstanding Recorded Investment Reserve Difference⁽¹⁾ Reserve Real Estate: Other construction/land 0 $ — $ — $ — $ — 1-4 family - closed-end 1 47 47 2 2 Equity lines 2 281 281 4 14 Multi-family residential 0 — — — — Commercial real estate - owner occupied 0 — — — — Farmland 0 — — — — Total real estate loans 328 328 6 16 Commercial and industrial 0 — — — — Consumer loans 0 — — — — Total $ 328 $ 328 $ 6 $ 16 (1) This represents the change in the ALLL reserve for these credits measured as the difference between the specific post-modification impairment reserve and the pre-modification reserve calculated under our general allowance for loan loss methodology. |
Schedule of Debtor Troubled Debt Restructuring, Subsequent Periods | The carrying amount and unpaid principal balance of those PCI loans was as follows, as of the dates indicated: Purchased Credit Impaired Loans: (dollars in thousands, unaudited) March 31, 2018 Unpaid Principal Balance Carrying Value Real estate secured $ 147 $ 12 Commercial and industrial — — Total purchased credit impaired loans $ 147 $ 12 December 31, 2017 Unpaid Principal Balance Carrying Value Real estate secured $ 148 $ 17 Commercial and industrial — — Total purchased credit impaired loans $ 148 $ 17 |
Allowance for Loan and Lease 25
Allowance for Loan and Lease Losses (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Receivables [Abstract] | |
Impaired Financing Receivables | Impaired Loans (dollars in thousands, unaudited) March 31, 2018 Unpaid Principal Balance (1) Recorded Investment (2) Related Allowance Average Recorded Investment Interest Income Recognized (3) With an allowance recorded Real Estate: Other construction/land $ 636 $ 480 $ 27 $ 725 $ 9 1-4 family - closed-end 3,056 3,056 68 3,148 43 Equity lines 4,325 4,240 483 4,457 47 Multi-family residential 385 385 28 399 5 Commercial real estate- owner occupied 911 791 169 885 13 Commercial real estate- non-owner occupied 1,686 1,539 3 1,839 27 Total real estate 10,999 10,491 778 11,453 144 Agriculture — — — — — Commercial and industrial 1,677 1,482 958 1,971 11 Consumer loans 941 894 158 1,089 17 Subtotal 13,617 12,867 1,894 14,513 172 With no related allowance recorded Real Estate: Other construction/land 27 27 — 32 — 1-4 family - closed-end 984 926 — 1,025 1 Equity lines 397 298 — 408 — Commercial real estate- owner occupied 112 112 — 150 — Commercial real estate- non-owner occupied 9 — — 17 — Farmland 33 33 — 48 — Total real estate 1,562 1,396 — 1,680 1 Agriculture — — — — — Commercial and industrial 22 22 — 34 — Consumer loans 130 25 — 196 — Subtotal 1,714 1,443 — 1,910 1 Total $ 15,331 $ 14,310 $ 1,894 $ 16,423 $ 173 (1) Contractual principal balance due from customer. (2) Principal balance on Company's books, less any direct charge offs. (3) Interest income is recognized on performing balances on a regular accrual basis. Impaired Loans (dollars in thousands, unaudited) December 31, 2017 Unpaid Principal Balance (1) Recorded Investment (2) Related Allowance Average Recorded Investment Interest Income Recognized (3) With an allowance recorded Real Estate: Other construction/land $ 678 $ 523 $ 30 $ 768 $ 44 1-4 family - closed-end 4,061 4,054 109 4,042 226 Equity lines 4,546 4,446 405 4,711 154 Multi-family residential 390 391 29 410 24 Commercial real estate- owner occupied 926 801 151 948 44 Commercial real estate- non-owner occupied 1,724 1,576 4 1,914 111 Total real estate 12,325 11,791 728 12,793 603 Agriculture — — — — — Commercial and industrial 917 917 188 1,576 83 Consumer loans 1,210 1,201 237 1,433 96 Subtotal 14,452 13,909 1,153 15,802 782 With no related allowance recorded Real Estate: Other construction/land 28 28 — 34 — 1-4 family - closed-end 885 665 — 746 2 Equity lines 206 178 — 208 — Commercial real estate- owner occupied 117 117 — 157 — Commercial real estate- non-owner occupied 10 — — 25 — Farmland 293 293 — 327 — Total real estate 1,539 1,281 — 1,497 2 Agriculture — — — — — Commercial and industrial 1,158 1,147 — 1,433 — Consumer loans 230 76 — 317 — Subtotal 2,927 2,504 — 3,247 2 Total $ 17,379 $ 16,413 $ 1,153 $ 19,049 $ 784 ( 1) Contractual principal balance due from customer. (2) Principal balance on Company's books, less any direct charge offs. (3) Interest income is recognized on performing balances on a regular accrual basis . |
Allowance for Credit Losses on Financing Receivables | Allowance for Credit Losses and Recorded Investment in Financing Receivables (dollars in thousands, unaudited) Three months ended March 31, 2018 Real Estate Agricultural Products Commercial and Industrial Consumer Unallocated Total Allowance for credit losses: Beginning Balance $ 4,786 $ 208 $ 2,772 $ 1,231 $ 46 $ 9,043 Charge-offs (26 ) — (33 ) (565 ) — (624 ) Recoveries 64 — 29 279 — 372 Provision 12 18 137 57 (24 ) 200 Ending Balance $ 4,836 $ 226 $ 2,905 $ 1,002 $ 22 $ 8,991 Reserves: Specific $ 778 $ — $ 958 $ 158 $ — $ 1,894 General 4,058 226 1,947 844 22 7,097 Ending Balance $ 4,836 $ 226 $ 2,905 $ 1,002 $ 22 $ 8,991 Loans evaluated for impairment: Individually $ 11,887 $ — $ 1,504 $ 919 $ — $ 14,310 Collectively 1,278,276 54,270 236,840 8,520 1,577,906 Ending Balance $ 1,290,163 $ 54,270 $ 238,344 $ 9,439 $ — $ 1,592,216 Year ended December 31, 2017 Real Estate Agricultural Products Commercial and Industrial Consumer Unallocated Total Allowance for credit losses: Beginning Balance $ 3,548 $ 209 $ 4,279 $ 1,208 $ 457 $ 9,701 Charge-offs (101 ) (154 ) (669 ) (2,161 ) — (3,085 ) Recoveries 2,235 5 310 1,017 — 3,567 Provision (896 ) 148 (1,148 ) 1,167 (411 ) (1,140 ) Ending Balance $ 4,786 $ 208 $ 2,772 $ 1,231 $ 46 $ 9,043 Reserves: Specific $ 728 $ - $ 188 $ 237 $ — $ 1,153 General 4,058 208 2,584 994 46 7,890 Ending Balance $ 4,786 $ 208 $ 2,772 $ 1,231 $ 46 $ 9,043 Loans evaluated for impairment: Individually $ 13,072 $ — $ 2,064 $ 1,277 $ — $ 16,413 Collectively 1,213,644 46,796 271,618 9,349 — 1,541,407 Ending Balance $ 1,226,716 $ 46,796 $ 273,682 $ 10,626 $ — $ 1,557,820 |
The Business of Sierra Bancorp
The Business of Sierra Bancorp (Narrative) (Details) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2018USD ($)BankBranch | Jan. 23, 2018USD ($) | Dec. 31, 2017USD ($) | |
Organization Consolidation And Presentation Of Financial Statements [Line Items] | |||
Capital | $ 1,500 | ||
Number of acquired banks | Bank | 4 | ||
Number of full service branch offices | Branch | 39 | ||
Assets | $ 2,373,524 | $ 2,340,298 | |
Cash, FDIC Insured Amount | 2,000,000 | ||
Community Bank of Santa Maria [Member] | |||
Organization Consolidation And Presentation Of Financial Statements [Line Items] | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Liabilities | $ 40,000 | $ 40,000 |
Current Accounting Developmen27
Current Accounting Developments (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2018 | Dec. 31, 2017 | |
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | ||
Corporate income tax rate | 21.00% | |
Maximum [Member] | ||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | ||
Corporate income tax rate | 35.00% | |
ASU 2018-02 [Member] | ||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | ||
Revenue, performance obligation satisfied, description | Company has evaluated the nature of its non-interest income and determined that for income associated with customer contracts, transaction prices are typically fixed and performance obligations are satisfied as services are rendered. | |
Change in accounting principle cumulative-effect adjustment to the balance sheet | $ 413 |
Supplemental Disclosure of Ca28
Supplemental Disclosure of Cash Flow Information (Narrative) (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Supplemental Cash Flow Information [Abstract] | ||
Cash paid for interest | $ 1,874,000 | $ 1,070,000 |
Cash paid for income taxes | 0 | 0 |
Asset acquired in settlement of loans | 0 | 94,000 |
Proceeds from sale of foreclosed assets | $ 0 | $ 29,000 |
Share Based Compensation (Narra
Share Based Compensation (Narrative) (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Share-based Compensation, Total | $ 76,000 | $ 423,000 |
2007 Stock Option Plan [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options outstanding | 424,300 | |
2017 Plan [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 850,000 | |
Number of shares remained available for grant | 766,000 |
Earnings per Share (Narrative)
Earnings per Share (Narrative) (Details) - shares | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Earnings Per Share [Abstract] | ||
Weighted Average Number of Shares Outstanding, Basic | 15,232,696 | 13,801,635 |
Weighted Average Number Diluted Shares Outstanding Adjustment | 179,472 | 207,861 |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 169,000 | 90,000 |
Financial Instruments with Of31
Financial Instruments with Off-Balance-Sheet Risk (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Commitments to Extend Credit [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Financial instruments off-balance sheet credit risks | $ 686,472 | $ 691,712 |
Standby Letters of Credit [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Financial instruments off-balance sheet credit risks | $ 9,992 | $ 9,168 |
Financial Instruments with Of32
Financial Instruments with Off-Balance-Sheet Risk (Narrative) (Details) $ in Millions | Mar. 31, 2018USD ($) |
Financial Instruments With Off Balance Sheet Risk [Abstract] | |
Letters of Credit Outstanding, Amount | $ 86 |
Fair Value Disclosures and Re33
Fair Value Disclosures and Reporting, the Fair Value Option and Fair Value Measurements - Carrying Amount and Estimated Fair Values of Financial Instruments) (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Financial Assets: | ||
Investment securities available for sale | $ 563,582 | $ 558,329 |
Carrying Amount [Member] | ||
Financial Assets: | ||
Cash and cash equivalents | 63,509 | 70,137 |
Investment securities available for sale | 563,582 | 558,329 |
Loans and leases, net held for investment | 1,585,880 | 1,551,174 |
Collateral dependent impaired loans | 298 | 377 |
Cash surrender value of life insurance policies | 47,590 | 47,108 |
Financial liabilities: | ||
Deposits | 2,036,630 | 1,988,386 |
Subordinated debentures | 34,633 | 34,588 |
Fair Value [Member] | ||
Financial Assets: | ||
Cash and cash equivalents | 63,507 | 70,141 |
Investment securities available for sale | 563,582 | 558,329 |
Loans and leases, net held for investment | 1,559,992 | 1,563,765 |
Collateral dependent impaired loans | 298 | 377 |
Cash surrender value of life insurance policies | 47,590 | 47,108 |
Financial liabilities: | ||
Deposits | 2,036,117 | 1,988,174 |
Subordinated debentures | 24,377 | 24,216 |
Fair Value [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Financial Assets: | ||
Cash and cash equivalents | 63,507 | 70,141 |
Investment securities available for sale | 0 | 0 |
Loans and leases, net held for investment | 0 | 0 |
Collateral dependent impaired loans | 0 | 0 |
Cash surrender value of life insurance policies | 0 | 0 |
Financial liabilities: | ||
Deposits | 642,363 | 635,434 |
Subordinated debentures | 0 | 0 |
Fair Value [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Financial Assets: | ||
Cash and cash equivalents | 0 | 0 |
Investment securities available for sale | 563,582 | 558,329 |
Loans and leases, net held for investment | 1,559,992 | 1,563,765 |
Collateral dependent impaired loans | 298 | 377 |
Cash surrender value of life insurance policies | 47,590 | 47,108 |
Financial liabilities: | ||
Deposits | 1,393,754 | 1,352,740 |
Subordinated debentures | 24,377 | 24,216 |
Fair Value [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Financial Assets: | ||
Cash and cash equivalents | 0 | 0 |
Investment securities available for sale | 0 | 0 |
Loans and leases, net held for investment | 0 | 0 |
Collateral dependent impaired loans | 0 | 0 |
Cash surrender value of life insurance policies | 0 | 0 |
Financial liabilities: | ||
Deposits | 0 | 0 |
Subordinated debentures | $ 0 | $ 0 |
Fair Value Disclosures and Re34
Fair Value Disclosures and Reporting, the Fair Value Option and Fair Value Measurements - Schedule of Fair Value, Assets Measured on Recurring Basis) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2018 | Dec. 31, 2017 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | $ 563,582 | $ 558,329 |
State and political subdivisions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 141,873 | 143,201 |
Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 563,582 | 558,329 |
Other-than-temporary impairment losses on equity securities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | State and political subdivisions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 141,873 | 143,201 |
Other-than-temporary impairment losses on equity securities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | U.S. Government agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 19,725 | 21,326 |
Other-than-temporary impairment losses on equity securities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Mortgage-backed securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 401,984 | 393,802 |
Other-than-temporary impairment losses on equity securities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | State and political subdivisions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | U.S. Government agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Mortgage-backed securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 563,582 | 558,329 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | State and political subdivisions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 141,873 | 143,201 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | U.S. Government agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 19,725 | 21,326 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Mortgage-backed securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 401,984 | 393,802 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | State and political subdivisions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | U.S. Government agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Mortgage-backed securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | $ 0 | $ 0 |
Fair Value Disclosures and Re35
Fair Value Disclosures and Reporting, the Fair Value Option and Fair Value Measurements - Schedule Of Fair Value Assets and Liabilities Measured on Non Recurring Basis) (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired loans | [1] | $ 14,310 | $ 16,413 |
Foreclosed assets | 5,371 | 5,481 | |
Fair Value, Measurements, Nonrecurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired loans | 298 | 377 | |
Foreclosed assets | 5,371 | 5,481 | |
Total assets measured on a norecurring basis | 5,669 | 5,858 | |
Fair Value, Measurements, Nonrecurring [Member] | Real Estate Sector [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired loans | 116 | 322 | |
Fair Value, Measurements, Nonrecurring [Member] | Real Estate Sector [Member] | Residential Real Estate [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired loans | 0 | 0 | |
Fair Value, Measurements, Nonrecurring [Member] | Agricultural Sector [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired loans | 0 | 0 | |
Fair Value, Measurements, Nonrecurring [Member] | Commercial and Industrial Sector [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired loans | 112 | 0 | |
Fair Value, Measurements, Nonrecurring [Member] | Consumer Loans Sector [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired loans | 70 | 55 | |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired loans | 0 | 0 | |
Foreclosed assets | 0 | 0 | |
Total assets measured on a norecurring basis | 0 | 0 | |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | Real Estate Sector [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired loans | 0 | 0 | |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | Real Estate Sector [Member] | Residential Real Estate [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired loans | 0 | 0 | |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | Agricultural Sector [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired loans | 0 | 0 | |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | Commercial and Industrial Sector [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired loans | 0 | 0 | |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | Consumer Loans Sector [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired loans | 0 | 0 | |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired loans | 298 | 377 | |
Foreclosed assets | 5,371 | 5,481 | |
Total assets measured on a norecurring basis | 5,669 | 5,858 | |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | Real Estate Sector [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired loans | 116 | 322 | |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | Real Estate Sector [Member] | Residential Real Estate [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired loans | 0 | 0 | |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | Agricultural Sector [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired loans | 0 | 0 | |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | Commercial and Industrial Sector [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired loans | 112 | 0 | |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | Consumer Loans Sector [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired loans | 70 | 55 | |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired loans | 0 | 0 | |
Foreclosed assets | 0 | 0 | |
Total assets measured on a norecurring basis | 0 | 0 | |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Real Estate Sector [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired loans | 0 | 0 | |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Real Estate Sector [Member] | Residential Real Estate [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired loans | 0 | 0 | |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Agricultural Sector [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired loans | 0 | 0 | |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Commercial and Industrial Sector [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired loans | 0 | 0 | |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Consumer Loans Sector [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired loans | 0 | 0 | |
One To Four Family Residential Real Estate [Member] | Fair Value, Measurements, Nonrecurring [Member] | Real Estate Sector [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired loans | 0 | 0 | |
One To Four Family Residential Real Estate [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | Real Estate Sector [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired loans | 0 | 0 | |
One To Four Family Residential Real Estate [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | Real Estate Sector [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired loans | 0 | 0 | |
One To Four Family Residential Real Estate [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Real Estate Sector [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired loans | 0 | 0 | |
One To Four Family Closed End [Member] | Fair Value, Measurements, Nonrecurring [Member] | Real Estate Sector [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired loans | 5 | 252 | |
One To Four Family Closed End [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | Real Estate Sector [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired loans | 0 | 0 | |
One To Four Family Closed End [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | Real Estate Sector [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired loans | 5 | 252 | |
One To Four Family Closed End [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Real Estate Sector [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired loans | 0 | 0 | |
Equity Lines [Member] | Fair Value, Measurements, Nonrecurring [Member] | Real Estate Sector [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired loans | 111 | 70 | |
Equity Lines [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | Real Estate Sector [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired loans | 0 | 0 | |
Equity Lines [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | Real Estate Sector [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired loans | 111 | 70 | |
Equity Lines [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Real Estate Sector [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired loans | 0 | 0 | |
Commercial real estate owner occupied [Member] | Fair Value, Measurements, Nonrecurring [Member] | Real Estate Sector [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired loans | 0 | 0 | |
Commercial real estate owner occupied [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | Real Estate Sector [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired loans | 0 | 0 | |
Commercial real estate owner occupied [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | Real Estate Sector [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired loans | 0 | 0 | |
Commercial real estate owner occupied [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Real Estate Sector [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired loans | 0 | 0 | |
Commercial Real Estate Non Owner Occupied [Member] | Fair Value, Measurements, Nonrecurring [Member] | Real Estate Sector [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired loans | 0 | 0 | |
Commercial Real Estate Non Owner Occupied [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | Real Estate Sector [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired loans | 0 | 0 | |
Commercial Real Estate Non Owner Occupied [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | Real Estate Sector [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired loans | 0 | 0 | |
Commercial Real Estate Non Owner Occupied [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Real Estate Sector [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired loans | 0 | 0 | |
Farmland [Member] | Fair Value, Measurements, Nonrecurring [Member] | Real Estate Sector [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired loans | 0 | 0 | |
Farmland [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | Real Estate Sector [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired loans | 0 | 0 | |
Farmland [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | Real Estate Sector [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired loans | 0 | 0 | |
Farmland [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Real Estate Sector [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired loans | 0 | 0 | |
Other construction/land [Member] | Fair Value, Measurements, Nonrecurring [Member] | Real Estate Sector [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired loans | 0 | 0 | |
Other construction/land [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | Real Estate Sector [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired loans | 0 | 0 | |
Other construction/land [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | Real Estate Sector [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired loans | 0 | 0 | |
Other construction/land [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Real Estate Sector [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired loans | $ 0 | $ 0 | |
[1] | Principal balance on Company's books, less any direct charge offs. |
Investments - Schedule of Avail
Investments - Schedule of Available-for-sale Securities Reconciliation (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2018 | Dec. 31, 2017 | |
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | $ 574,481 | $ 561,636 |
Gross Unrealized Gains | 1,838 | 3,559 |
Gross Unrealized Losses | (12,737) | (6,866) |
Estimated Fair Value | 563,582 | 558,329 |
US Government Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 20,173 | 21,524 |
Gross Unrealized Gains | 15 | 70 |
Gross Unrealized Losses | (463) | (268) |
Estimated Fair Value | 19,725 | 21,326 |
Mortgage-backed securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 412,457 | 399,203 |
Gross Unrealized Gains | 536 | 816 |
Gross Unrealized Losses | (11,009) | (6,217) |
Estimated Fair Value | 401,984 | 393,802 |
State and political subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 141,851 | 140,909 |
Gross Unrealized Gains | 1,287 | 2,673 |
Gross Unrealized Losses | (1,265) | (381) |
Estimated Fair Value | $ 141,873 | $ 143,201 |
Investments (Narrative) (Detail
Investments (Narrative) (Details) | 3 Months Ended | |
Mar. 31, 2018USD ($)Security | Dec. 31, 2017USD ($)Security | |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Total | Security | 543 | 396 |
Securities available-for-sale | $ 563,582,000 | $ 558,329,000 |
Available-for-sale Securities, Amortized Cost Basis, Total | 574,481,000 | 561,636,000 |
Low Income Housing Tax Credit Fund Investments [Member] | ||
Investment, book balance | 8,000,000 | |
Investment, remaining commitments for additional capital contributions | 3,200,000 | |
Investment, tax credit | 160,000 | |
Investment, amortization expense | 405,000 | |
States and Political Subdivisions [Member] | ||
Available-for-sale Securities, Amortized Cost Basis, Total | 2,540,000 | |
States and Political Subdivisions [Member] | ||
Securities available-for-sale | 141,873,000 | 143,201,000 |
Available-for-sale Securities, Amortized Cost Basis, Total | $ 141,851,000 | $ 140,909,000 |
Investments - Information Perta
Investments - Information Pertaining to Investment Securities Aggregated by Investment Category and Length of Time that Individual Securities in a Continuous Loss Position (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Losses, Less than twelve months | $ (5,708) | $ (2,588) |
Fair Value, Less than twelve months | 273,231 | 213,257 |
Gross Unrealized Losses, Twelve months or more | (7,029) | (4,278) |
Fair Value, Twelve months or more | 184,399 | 177,006 |
U.S. Government Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Losses, Less than twelve months | (120) | (79) |
Fair Value, Less than twelve months | 8,653 | 8,154 |
Gross Unrealized Losses, Twelve months or more | (343) | (189) |
Fair Value, Twelve months or more | 8,935 | 7,100 |
Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Losses, Less than twelve months | (4,854) | (2,420) |
Fair Value, Less than twelve months | 210,808 | 188,885 |
Gross Unrealized Losses, Twelve months or more | (6,155) | (3,797) |
Fair Value, Twelve months or more | 163,928 | 158,344 |
State and political subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Losses, Less than twelve months | (734) | (89) |
Fair Value, Less than twelve months | 53,770 | 16,218 |
Gross Unrealized Losses, Twelve months or more | (531) | (292) |
Fair Value, Twelve months or more | $ 11,536 | $ 11,562 |
Investments - Realized Gain (Lo
Investments - Realized Gain (Loss) on Investments (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Available For Sale Securities Gross Realized Gain Loss [Abstract] | ||
Proceeds from sales, calls and maturities of securities available for sale | $ 200 | $ 12,905 |
Gross gains on sales, calls and maturities of securities available for sale | 0 | 43 |
Gross losses on sales, calls and maturities of securities available for sale | 0 | (35) |
Net gains on sale of securities available for sale | $ 0 | $ 8 |
Investments - Investments Class
Investments - Investments Classified by Contractual Maturity Date (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Amortized Cost And Estimated Fair Value Of Investment Securities Available For Sale By Contractual Maturity [Line Items] | ||
Maturing within one year, Amortized Cost | $ 9,906 | $ 8,991 |
Maturing after one year through five years, Amortized Cost | 223,672 | 235,714 |
Maturing after five years through ten years, Amortized Cost | 50,882 | 45,075 |
Maturing after ten years, Amortized Cost | 76,382 | 76,471 |
Amortized Cost, Total | 574,481 | 561,636 |
Maturing within one year, Fair Value | 9,978 | 9,085 |
Maturing after one year through five years, Fair Value | 219,895 | 234,381 |
Maturing after five years through ten years, Fair Value | 50,715 | 45,645 |
Maturing after ten years, Fair Value | 75,645 | 77,423 |
Fair Value, Total | 563,582 | 558,329 |
U.S. Government agencies [Member] | ||
Amortized Cost And Estimated Fair Value Of Investment Securities Available For Sale By Contractual Maturity [Line Items] | ||
Investment securities not due at a single maturity date, Amortized Cost | 213,639 | 195,385 |
Investment securities not due at a single maturity date, Fair Value | $ 207,349 | $ 191,795 |
Investments - Summary of Amorti
Investments - Summary of Amortized Cost and Fair Values of General Obligation and Revenue Bonds (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Amortized Cost And Estimated Fair Value Of Investment Securities Available For Sale By Type Of Bonds [Line Items] | ||
Amortized Cost | $ 574,481 | $ 561,636 |
Fair Market Value | 563,582 | 558,329 |
States and Political Subdivisions [Member] | ||
Amortized Cost And Estimated Fair Value Of Investment Securities Available For Sale By Type Of Bonds [Line Items] | ||
Amortized Cost | 141,851 | 140,909 |
Fair Market Value | 141,873 | 143,201 |
General Obligation Bonds [Member] | States and Political Subdivisions [Member] | ||
Amortized Cost And Estimated Fair Value Of Investment Securities Available For Sale By Type Of Bonds [Line Items] | ||
Amortized Cost | 119,102 | 116,641 |
Fair Market Value | 119,132 | 118,609 |
General Obligation Bonds [Member] | Texas [Member] | States and Political Subdivisions [Member] | ||
Amortized Cost And Estimated Fair Value Of Investment Securities Available For Sale By Type Of Bonds [Line Items] | ||
Amortized Cost | 33,950 | 32,824 |
Fair Market Value | 33,645 | 33,184 |
General Obligation Bonds [Member] | California [Member] | States and Political Subdivisions [Member] | ||
Amortized Cost And Estimated Fair Value Of Investment Securities Available For Sale By Type Of Bonds [Line Items] | ||
Amortized Cost | 27,220 | 27,205 |
Fair Market Value | 27,618 | 28,027 |
General Obligation Bonds [Member] | Washington [Member] | States and Political Subdivisions [Member] | ||
Amortized Cost And Estimated Fair Value Of Investment Securities Available For Sale By Type Of Bonds [Line Items] | ||
Amortized Cost | 13,250 | 13,282 |
Fair Market Value | 13,212 | 13,524 |
General Obligation Bonds [Member] | Ohio [Member] | States and Political Subdivisions [Member] | ||
Amortized Cost And Estimated Fair Value Of Investment Securities Available For Sale By Type Of Bonds [Line Items] | ||
Amortized Cost | 9,890 | 9,917 |
Fair Market Value | 9,834 | 9,978 |
General Obligation Bonds [Member] | Illinois [Member] | States and Political Subdivisions [Member] | ||
Amortized Cost And Estimated Fair Value Of Investment Securities Available For Sale By Type Of Bonds [Line Items] | ||
Amortized Cost | 9,216 | 8,822 |
Fair Market Value | 9,205 | 8,925 |
General Obligation Bonds [Member] | Other [Member] | States and Political Subdivisions [Member] | ||
Amortized Cost And Estimated Fair Value Of Investment Securities Available For Sale By Type Of Bonds [Line Items] | ||
Amortized Cost | 25,576 | 24,591 |
Fair Market Value | 25,618 | 24,971 |
Revenue Bonds [Member] | ||
Amortized Cost And Estimated Fair Value Of Investment Securities Available For Sale By Type Of Bonds [Line Items] | ||
Amortized Cost | 22,749 | 24,268 |
Fair Market Value | 22,741 | 24,592 |
Revenue Bonds [Member] | Water [Member] | ||
Amortized Cost And Estimated Fair Value Of Investment Securities Available For Sale By Type Of Bonds [Line Items] | ||
Amortized Cost | 6,412 | 5,160 |
Fair Market Value | 6,397 | 5,230 |
Revenue Bonds [Member] | Sales Tax [Member] | ||
Amortized Cost And Estimated Fair Value Of Investment Securities Available For Sale By Type Of Bonds [Line Items] | ||
Amortized Cost | 2,950 | 4,375 |
Fair Market Value | 2,917 | 4,417 |
Revenue Bonds [Member] | College & University [Member] | ||
Amortized Cost And Estimated Fair Value Of Investment Securities Available For Sale By Type Of Bonds [Line Items] | ||
Amortized Cost | 2,351 | 3,649 |
Fair Market Value | 2,382 | 3,715 |
Revenue Bonds [Member] | Lease [Member] | ||
Amortized Cost And Estimated Fair Value Of Investment Securities Available For Sale By Type Of Bonds [Line Items] | ||
Amortized Cost | 2,313 | 3,657 |
Fair Market Value | 2,326 | 3,706 |
Revenue Bonds [Member] | Local or GTD Housing [Member] | ||
Amortized Cost And Estimated Fair Value Of Investment Securities Available For Sale By Type Of Bonds [Line Items] | ||
Amortized Cost | 1,523 | 2,076 |
Fair Market Value | 1,492 | 2,116 |
Revenue Bonds [Member] | Other (13 sources) [Member] | ||
Amortized Cost And Estimated Fair Value Of Investment Securities Available For Sale By Type Of Bonds [Line Items] | ||
Amortized Cost | 7,200 | 5,351 |
Fair Market Value | 7,227 | 5,408 |
Revenue Bonds [Member] | States and Political Subdivisions [Member] | ||
Amortized Cost And Estimated Fair Value Of Investment Securities Available For Sale By Type Of Bonds [Line Items] | ||
Amortized Cost | 22,749 | 24,268 |
Fair Market Value | 22,741 | 24,592 |
Revenue Bonds [Member] | Texas [Member] | States and Political Subdivisions [Member] | ||
Amortized Cost And Estimated Fair Value Of Investment Securities Available For Sale By Type Of Bonds [Line Items] | ||
Amortized Cost | 6,614 | 7,088 |
Fair Market Value | 6,622 | 7,172 |
Revenue Bonds [Member] | Washington [Member] | States and Political Subdivisions [Member] | ||
Amortized Cost And Estimated Fair Value Of Investment Securities Available For Sale By Type Of Bonds [Line Items] | ||
Amortized Cost | 1,761 | 1,764 |
Fair Market Value | 1,774 | 1,811 |
Revenue Bonds [Member] | Other [Member] | States and Political Subdivisions [Member] | ||
Amortized Cost And Estimated Fair Value Of Investment Securities Available For Sale By Type Of Bonds [Line Items] | ||
Amortized Cost | 5,326 | 5,742 |
Fair Market Value | 5,357 | 5,808 |
Revenue Bonds [Member] | Utah [Member] | States and Political Subdivisions [Member] | ||
Amortized Cost And Estimated Fair Value Of Investment Securities Available For Sale By Type Of Bonds [Line Items] | ||
Amortized Cost | 5,389 | 5,397 |
Fair Market Value | 5,366 | 5,454 |
Revenue Bonds [Member] | Indiana [Member] | States and Political Subdivisions [Member] | ||
Amortized Cost And Estimated Fair Value Of Investment Securities Available For Sale By Type Of Bonds [Line Items] | ||
Amortized Cost | 2,051 | 2,664 |
Fair Market Value | 2,046 | 2,721 |
Revenue Bonds [Member] | Virginia [Member] | States and Political Subdivisions [Member] | ||
Amortized Cost And Estimated Fair Value Of Investment Securities Available For Sale By Type Of Bonds [Line Items] | ||
Amortized Cost | 1,608 | 1,613 |
Fair Market Value | $ 1,576 | $ 1,626 |
Credit Quality and Nonperform42
Credit Quality and Nonperforming Assets - Credit Quality Classifications (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Financing Receivable Recorded Investment [Line Items] | ||
Total gross loans and leases | $ 1,592,216 | $ 1,557,820 |
Agricultural [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total gross loans and leases | 54,270 | 46,796 |
Commercial And Industrial [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total gross loans and leases | 129,771 | 135,662 |
Mortgage warehouse lines [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total gross loans and leases | 108,573 | 138,020 |
Consumer loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total gross loans and leases | 9,439 | 10,626 |
Real Estate Loan [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total gross loans and leases | 1,290,163 | 1,226,716 |
Real Estate Loan [Member] | 1-4 family residential construction [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total gross loans and leases | 81,580 | 74,256 |
Real Estate Loan [Member] | Other construction/land [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total gross loans and leases | 77,293 | 58,779 |
Real Estate Loan [Member] | 1-4 Family - closed-end [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total gross loans and leases | 226,925 | 204,766 |
Real Estate Loan [Member] | Equity lines [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total gross loans and leases | 60,649 | 62,590 |
Real Estate Loan [Member] | Multi-family residential [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total gross loans and leases | 42,569 | 42,930 |
Real Estate Loan [Member] | Commercial real estate owner occupied [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total gross loans and leases | 261,261 | 263,447 |
Real Estate Loan [Member] | Commercial Real Estate Non Owner Occupied [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total gross loans and leases | 396,957 | 379,432 |
Real Estate Loan [Member] | Farmland [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total gross loans and leases | 142,929 | 140,516 |
Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total gross loans and leases | 1,544,703 | 1,490,989 |
Pass [Member] | Agricultural [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total gross loans and leases | 53,644 | 46,182 |
Pass [Member] | Commercial And Industrial [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total gross loans and leases | 117,026 | 108,609 |
Pass [Member] | Mortgage warehouse lines [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total gross loans and leases | 108,573 | 138,020 |
Pass [Member] | Consumer loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total gross loans and leases | 8,192 | 9,067 |
Pass [Member] | Real Estate Loan [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total gross loans and leases | 1,257,268 | 1,189,111 |
Pass [Member] | Real Estate Loan [Member] | 1-4 family residential construction [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total gross loans and leases | 81,580 | 74,256 |
Pass [Member] | Real Estate Loan [Member] | Other construction/land [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total gross loans and leases | 76,533 | 57,421 |
Pass [Member] | Real Estate Loan [Member] | 1-4 Family - closed-end [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total gross loans and leases | 220,192 | 197,309 |
Pass [Member] | Real Estate Loan [Member] | Equity lines [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total gross loans and leases | 53,292 | 53,825 |
Pass [Member] | Real Estate Loan [Member] | Multi-family residential [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total gross loans and leases | 42,184 | 42,539 |
Pass [Member] | Real Estate Loan [Member] | Commercial real estate owner occupied [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total gross loans and leases | 252,844 | 255,228 |
Pass [Member] | Real Estate Loan [Member] | Commercial Real Estate Non Owner Occupied [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total gross loans and leases | 388,716 | 369,801 |
Pass [Member] | Real Estate Loan [Member] | Farmland [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total gross loans and leases | 141,927 | 138,732 |
Special Mention [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total gross loans and leases | 23,640 | 41,286 |
Special Mention [Member] | Agricultural [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total gross loans and leases | 626 | 614 |
Special Mention [Member] | Commercial And Industrial [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total gross loans and leases | 10,274 | 24,008 |
Special Mention [Member] | Mortgage warehouse lines [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total gross loans and leases | 0 | 0 |
Special Mention [Member] | Consumer loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total gross loans and leases | 292 | 210 |
Special Mention [Member] | Real Estate Loan [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total gross loans and leases | 12,448 | 16,454 |
Special Mention [Member] | Real Estate Loan [Member] | 1-4 family residential construction [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total gross loans and leases | 0 | 0 |
Special Mention [Member] | Real Estate Loan [Member] | Other construction/land [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total gross loans and leases | 253 | 807 |
Special Mention [Member] | Real Estate Loan [Member] | 1-4 Family - closed-end [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total gross loans and leases | 1,531 | 1,534 |
Special Mention [Member] | Real Estate Loan [Member] | Equity lines [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total gross loans and leases | 2,468 | 3,620 |
Special Mention [Member] | Real Estate Loan [Member] | Multi-family residential [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total gross loans and leases | 0 | 0 |
Special Mention [Member] | Real Estate Loan [Member] | Commercial real estate owner occupied [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total gross loans and leases | 4,909 | 4,586 |
Special Mention [Member] | Real Estate Loan [Member] | Commercial Real Estate Non Owner Occupied [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total gross loans and leases | 2,823 | 4,923 |
Special Mention [Member] | Real Estate Loan [Member] | Farmland [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total gross loans and leases | 464 | 984 |
Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total gross loans and leases | 9,563 | 9,132 |
Substandard [Member] | Agricultural [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total gross loans and leases | 0 | 0 |
Substandard [Member] | Commercial And Industrial [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total gross loans and leases | 967 | 981 |
Substandard [Member] | Mortgage warehouse lines [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total gross loans and leases | 0 | 0 |
Substandard [Member] | Consumer loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total gross loans and leases | 36 | 72 |
Substandard [Member] | Real Estate Loan [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total gross loans and leases | 8,560 | 8,079 |
Substandard [Member] | Real Estate Loan [Member] | 1-4 family residential construction [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total gross loans and leases | 0 | 0 |
Substandard [Member] | Real Estate Loan [Member] | Other construction/land [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total gross loans and leases | 0 | 0 |
Substandard [Member] | Real Estate Loan [Member] | 1-4 Family - closed-end [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total gross loans and leases | 1,220 | 1,204 |
Substandard [Member] | Real Estate Loan [Member] | Equity lines [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total gross loans and leases | 351 | 521 |
Substandard [Member] | Real Estate Loan [Member] | Multi-family residential [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total gross loans and leases | 0 | 0 |
Substandard [Member] | Real Estate Loan [Member] | Commercial real estate owner occupied [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total gross loans and leases | 2,605 | 2,715 |
Substandard [Member] | Real Estate Loan [Member] | Commercial Real Estate Non Owner Occupied [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total gross loans and leases | 3,879 | 3,132 |
Substandard [Member] | Real Estate Loan [Member] | Farmland [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total gross loans and leases | 505 | 507 |
Impaired [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total gross loans and leases | 14,310 | 16,413 |
Impaired [Member] | Agricultural [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total gross loans and leases | 0 | 0 |
Impaired [Member] | Commercial And Industrial [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total gross loans and leases | 1,504 | 2,064 |
Impaired [Member] | Mortgage warehouse lines [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total gross loans and leases | 0 | 0 |
Impaired [Member] | Consumer loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total gross loans and leases | 919 | 1,277 |
Impaired [Member] | Real Estate Loan [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total gross loans and leases | 11,887 | 13,072 |
Impaired [Member] | Real Estate Loan [Member] | 1-4 family residential construction [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total gross loans and leases | 0 | 0 |
Impaired [Member] | Real Estate Loan [Member] | Other construction/land [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total gross loans and leases | 507 | 551 |
Impaired [Member] | Real Estate Loan [Member] | 1-4 Family - closed-end [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total gross loans and leases | 3,982 | 4,719 |
Impaired [Member] | Real Estate Loan [Member] | Equity lines [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total gross loans and leases | 4,538 | 4,624 |
Impaired [Member] | Real Estate Loan [Member] | Multi-family residential [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total gross loans and leases | 385 | 391 |
Impaired [Member] | Real Estate Loan [Member] | Commercial real estate owner occupied [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total gross loans and leases | 903 | 918 |
Impaired [Member] | Real Estate Loan [Member] | Commercial Real Estate Non Owner Occupied [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total gross loans and leases | 1,539 | 1,576 |
Impaired [Member] | Real Estate Loan [Member] | Farmland [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total gross loans and leases | $ 33 | $ 293 |
Credit Quality and Nonperform43
Credit Quality and Nonperforming Assets (Narrative) (Details) - USD ($) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2018 | Dec. 31, 2017 | |
Credit Quality And Nonperforming Assets [Abstract] | ||
Foreclosed assets | $ 5,371,000 | $ 5,481,000 |
Financing Receivable, Modifications, Recorded Investment | 12,100,000 | |
Financing Receivable Average Investment Nonaccrual Loans | 895,000,000,000 | |
Purchase Credit Impaired Loans Allowance For Loan Losses | 135,000 | 131,000 |
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Accretable Yield, Accretion | $ 0 | $ 0 |
Credit Quality and Nonperform44
Credit Quality and Nonperforming Assets - Past Due and Nonaccrual Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||||
Total Past Due | $ 6,121 | $ 5,644 | |||
Current | 1,586,095 | 1,552,176 | |||
Total Financing Receivables | 1,592,216 | 1,557,820 | |||
Non-Accrual Loans | [1] | 3,089 | 3,963 | ||
Real Estate Loan [Member] | |||||
Financing Receivable Recorded Investment Past Due [Line Items] | |||||
Total Past Due | 2,686 | 2,979 | |||
Current | 1,287,477 | 1,223,737 | |||
Total Financing Receivables | 1,290,163 | 1,226,716 | |||
Non-Accrual Loans | [1] | 1,992 | 2,522 | ||
1-4 family residential construction [Member] | Real Estate Loan [Member] | |||||
Financing Receivable Recorded Investment Past Due [Line Items] | |||||
Total Past Due | 0 | 0 | |||
Current | 81,580 | 74,256 | |||
Total Financing Receivables | 81,580 | 74,256 | |||
Non-Accrual Loans | [1] | 0 | 0 | ||
Other construction/land [Member] | Real Estate Loan [Member] | |||||
Financing Receivable Recorded Investment Past Due [Line Items] | |||||
Total Past Due | 317 | 20 | |||
Current | 76,976 | 58,759 | |||
Total Financing Receivables | 77,293 | 58,779 | |||
Non-Accrual Loans | [1] | 71 | 77 | ||
1-4 Family - closed-end [Member] | Real Estate Loan [Member] | |||||
Financing Receivable Recorded Investment Past Due [Line Items] | |||||
Total Past Due | 959 | 1,020 | |||
Current | 225,966 | 203,746 | |||
Total Financing Receivables | 226,925 | 204,766 | |||
Non-Accrual Loans | [1] | 910 | 871 | ||
Equity lines [Member] | Real Estate Loan [Member] | |||||
Financing Receivable Recorded Investment Past Due [Line Items] | |||||
Total Past Due | 1,094 | 669 | |||
Current | 59,555 | 61,921 | |||
Total Financing Receivables | 60,649 | 62,590 | |||
Non-Accrual Loans | [1] | 646 | 922 | ||
Multi Family Residential [Member] | Real Estate Loan [Member] | |||||
Financing Receivable Recorded Investment Past Due [Line Items] | |||||
Total Past Due | 0 | 0 | |||
Current | 42,569 | 42,930 | |||
Total Financing Receivables | 42,569 | 42,930 | |||
Non-Accrual Loans | [1] | 0 | 0 | ||
Commercial real estate owner occupied [Member] | Real Estate Loan [Member] | |||||
Financing Receivable Recorded Investment Past Due [Line Items] | |||||
Total Past Due | 298 | 1,270 | |||
Current | 260,963 | 262,177 | |||
Total Financing Receivables | 261,261 | 263,447 | |||
Non-Accrual Loans | [1] | 227 | 236 | ||
Commercial Real Estate Non Owner Occupied [Member] | Real Estate Loan [Member] | |||||
Financing Receivable Recorded Investment Past Due [Line Items] | |||||
Total Past Due | 0 | 0 | |||
Current | 396,957 | 379,432 | |||
Total Financing Receivables | 396,957 | 379,432 | |||
Non-Accrual Loans | [1] | 105 | 123 | ||
Farmland [Member] | Real Estate Loan [Member] | |||||
Financing Receivable Recorded Investment Past Due [Line Items] | |||||
Total Past Due | 18 | 0 | |||
Current | 142,911 | 140,516 | |||
Total Financing Receivables | 142,929 | 140,516 | |||
Non-Accrual Loans | [1] | 33 | 293 | ||
Agricultural [Member] | |||||
Financing Receivable Recorded Investment Past Due [Line Items] | |||||
Total Past Due | 0 | 0 | |||
Current | 54,270 | 46,796 | |||
Total Financing Receivables | 54,270 | 46,796 | |||
Non-Accrual Loans | [1] | 0 | 0 | ||
Commercial And Industrial Loan [Member] | |||||
Financing Receivable Recorded Investment Past Due [Line Items] | |||||
Total Past Due | 3,191 | 2,398 | |||
Current | 126,580 | 133,264 | |||
Total Financing Receivables | 129,771 | 135,662 | |||
Non-Accrual Loans | [1] | 963 | 1,301 | ||
Mortgage warehouse lines [Member] | |||||
Financing Receivable Recorded Investment Past Due [Line Items] | |||||
Total Past Due | 0 | 0 | |||
Current | 108,573 | 138,020 | |||
Total Financing Receivables | 108,573 | 138,020 | |||
Non-Accrual Loans | [1] | 0 | 0 | ||
Consumer Loan [Member] | |||||
Financing Receivable Recorded Investment Past Due [Line Items] | |||||
Total Past Due | 244 | 267 | |||
Current | 9,195 | 10,359 | |||
Total Financing Receivables | 9,439 | 10,626 | |||
Non-Accrual Loans | [1] | 134 | 140 | ||
30-59 Days Past Due [Member] | |||||
Financing Receivable Recorded Investment Past Due [Line Items] | |||||
Total Past Due | 3,784 | 2,768 | |||
30-59 Days Past Due [Member] | Real Estate Loan [Member] | |||||
Financing Receivable Recorded Investment Past Due [Line Items] | |||||
Total Past Due | 1,393 | 1,881 | |||
30-59 Days Past Due [Member] | 1-4 family residential construction [Member] | Real Estate Loan [Member] | |||||
Financing Receivable Recorded Investment Past Due [Line Items] | |||||
Total Past Due | 0 | 0 | |||
30-59 Days Past Due [Member] | Other construction/land [Member] | Real Estate Loan [Member] | |||||
Financing Receivable Recorded Investment Past Due [Line Items] | |||||
Total Past Due | 317 | 20 | |||
30-59 Days Past Due [Member] | 1-4 Family - closed-end [Member] | Real Estate Loan [Member] | |||||
Financing Receivable Recorded Investment Past Due [Line Items] | |||||
Total Past Due | 39 | 125 | |||
30-59 Days Past Due [Member] | Equity lines [Member] | Real Estate Loan [Member] | |||||
Financing Receivable Recorded Investment Past Due [Line Items] | |||||
Total Past Due | 831 | 466 | |||
30-59 Days Past Due [Member] | Multi Family Residential [Member] | Real Estate Loan [Member] | |||||
Financing Receivable Recorded Investment Past Due [Line Items] | |||||
Total Past Due | 0 | 0 | |||
30-59 Days Past Due [Member] | Commercial real estate owner occupied [Member] | Real Estate Loan [Member] | |||||
Financing Receivable Recorded Investment Past Due [Line Items] | |||||
Total Past Due | 188 | 1,270 | |||
30-59 Days Past Due [Member] | Commercial Real Estate Non Owner Occupied [Member] | Real Estate Loan [Member] | |||||
Financing Receivable Recorded Investment Past Due [Line Items] | |||||
Total Past Due | 0 | 0 | |||
30-59 Days Past Due [Member] | Farmland [Member] | Real Estate Loan [Member] | |||||
Financing Receivable Recorded Investment Past Due [Line Items] | |||||
Total Past Due | 18 | 0 | |||
30-59 Days Past Due [Member] | Agricultural [Member] | |||||
Financing Receivable Recorded Investment Past Due [Line Items] | |||||
Total Past Due | 0 | 0 | |||
30-59 Days Past Due [Member] | Commercial And Industrial Loan [Member] | |||||
Financing Receivable Recorded Investment Past Due [Line Items] | |||||
Total Past Due | 2,240 | 730 | |||
30-59 Days Past Due [Member] | Mortgage warehouse lines [Member] | |||||
Financing Receivable Recorded Investment Past Due [Line Items] | |||||
Total Past Due | 0 | 0 | |||
30-59 Days Past Due [Member] | Consumer Loan [Member] | |||||
Financing Receivable Recorded Investment Past Due [Line Items] | |||||
Total Past Due | 151 | 157 | |||
60-89 Days Past Due [Member] | |||||
Financing Receivable Recorded Investment Past Due [Line Items] | |||||
Total Past Due | 632 | 560 | |||
60-89 Days Past Due [Member] | Real Estate Loan [Member] | |||||
Financing Receivable Recorded Investment Past Due [Line Items] | |||||
Total Past Due | 484 | 0 | |||
60-89 Days Past Due [Member] | 1-4 family residential construction [Member] | Real Estate Loan [Member] | |||||
Financing Receivable Recorded Investment Past Due [Line Items] | |||||
Total Past Due | 0 | 0 | |||
60-89 Days Past Due [Member] | Other construction/land [Member] | Real Estate Loan [Member] | |||||
Financing Receivable Recorded Investment Past Due [Line Items] | |||||
Total Past Due | 0 | 0 | |||
60-89 Days Past Due [Member] | 1-4 Family - closed-end [Member] | Real Estate Loan [Member] | |||||
Financing Receivable Recorded Investment Past Due [Line Items] | |||||
Total Past Due | 319 | 0 | |||
60-89 Days Past Due [Member] | Equity lines [Member] | Real Estate Loan [Member] | |||||
Financing Receivable Recorded Investment Past Due [Line Items] | |||||
Total Past Due | 55 | 0 | |||
60-89 Days Past Due [Member] | Multi Family Residential [Member] | Real Estate Loan [Member] | |||||
Financing Receivable Recorded Investment Past Due [Line Items] | |||||
Total Past Due | 0 | 0 | |||
60-89 Days Past Due [Member] | Commercial real estate owner occupied [Member] | Real Estate Loan [Member] | |||||
Financing Receivable Recorded Investment Past Due [Line Items] | |||||
Total Past Due | 110 | 0 | |||
60-89 Days Past Due [Member] | Commercial Real Estate Non Owner Occupied [Member] | Real Estate Loan [Member] | |||||
Financing Receivable Recorded Investment Past Due [Line Items] | |||||
Total Past Due | 0 | 0 | |||
60-89 Days Past Due [Member] | Farmland [Member] | Real Estate Loan [Member] | |||||
Financing Receivable Recorded Investment Past Due [Line Items] | |||||
Total Past Due | 0 | 0 | |||
60-89 Days Past Due [Member] | Agricultural [Member] | |||||
Financing Receivable Recorded Investment Past Due [Line Items] | |||||
Total Past Due | 0 | 0 | |||
60-89 Days Past Due [Member] | Commercial And Industrial Loan [Member] | |||||
Financing Receivable Recorded Investment Past Due [Line Items] | |||||
Total Past Due | 92 | 496 | |||
60-89 Days Past Due [Member] | Mortgage warehouse lines [Member] | |||||
Financing Receivable Recorded Investment Past Due [Line Items] | |||||
Total Past Due | 0 | 0 | |||
60-89 Days Past Due [Member] | Consumer Loan [Member] | |||||
Financing Receivable Recorded Investment Past Due [Line Items] | |||||
Total Past Due | 56 | 64 | |||
90 Days Or More Past Due [Member] | |||||
Financing Receivable Recorded Investment Past Due [Line Items] | |||||
Total Past Due | 1,705 | [2] | 2,316 | [3] | |
90 Days Or More Past Due [Member] | Real Estate Loan [Member] | |||||
Financing Receivable Recorded Investment Past Due [Line Items] | |||||
Total Past Due | 809 | [2] | 1,098 | [3] | |
90 Days Or More Past Due [Member] | 1-4 family residential construction [Member] | Real Estate Loan [Member] | |||||
Financing Receivable Recorded Investment Past Due [Line Items] | |||||
Total Past Due | 0 | [2] | 0 | [3] | |
90 Days Or More Past Due [Member] | Other construction/land [Member] | Real Estate Loan [Member] | |||||
Financing Receivable Recorded Investment Past Due [Line Items] | |||||
Total Past Due | 0 | [2] | 0 | [3] | |
90 Days Or More Past Due [Member] | 1-4 Family - closed-end [Member] | Real Estate Loan [Member] | |||||
Financing Receivable Recorded Investment Past Due [Line Items] | |||||
Total Past Due | 601 | [2] | 895 | [3] | |
90 Days Or More Past Due [Member] | Equity lines [Member] | Real Estate Loan [Member] | |||||
Financing Receivable Recorded Investment Past Due [Line Items] | |||||
Total Past Due | 208 | [2] | 203 | [3] | |
90 Days Or More Past Due [Member] | Multi Family Residential [Member] | Real Estate Loan [Member] | |||||
Financing Receivable Recorded Investment Past Due [Line Items] | |||||
Total Past Due | 0 | [2] | 0 | [3] | |
90 Days Or More Past Due [Member] | Commercial real estate owner occupied [Member] | Real Estate Loan [Member] | |||||
Financing Receivable Recorded Investment Past Due [Line Items] | |||||
Total Past Due | 0 | [2] | 0 | [3] | |
90 Days Or More Past Due [Member] | Commercial Real Estate Non Owner Occupied [Member] | Real Estate Loan [Member] | |||||
Financing Receivable Recorded Investment Past Due [Line Items] | |||||
Total Past Due | 0 | [2] | 0 | [3] | |
90 Days Or More Past Due [Member] | Farmland [Member] | Real Estate Loan [Member] | |||||
Financing Receivable Recorded Investment Past Due [Line Items] | |||||
Total Past Due | 0 | [2] | 0 | [3] | |
90 Days Or More Past Due [Member] | Agricultural [Member] | |||||
Financing Receivable Recorded Investment Past Due [Line Items] | |||||
Total Past Due | 0 | [2] | 0 | [3] | |
90 Days Or More Past Due [Member] | Commercial And Industrial Loan [Member] | |||||
Financing Receivable Recorded Investment Past Due [Line Items] | |||||
Total Past Due | 859 | [2] | 1,172 | [3] | |
90 Days Or More Past Due [Member] | Mortgage warehouse lines [Member] | |||||
Financing Receivable Recorded Investment Past Due [Line Items] | |||||
Total Past Due | 0 | [2] | 0 | [3] | |
90 Days Or More Past Due [Member] | Consumer Loan [Member] | |||||
Financing Receivable Recorded Investment Past Due [Line Items] | |||||
Total Past Due | $ 37 | [2] | $ 46 | [3] | |
[1] | Included in total financing receivables | ||||
[2] | As of March 31, 2018 there were no loans over 90 days past due and still accruing. | ||||
[3] | As of December 31, 2017 there were no loans over 90 days past due and still accruing. |
Credit Quality and Nonperform45
Credit Quality and Nonperforming Assets - Troubled Debt Restructurings, by Type of Loan Modification (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | $ 68 | $ 328 |
Consumer Loan [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 0 |
Commercial And Industrial Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 0 |
Real Estate Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 68 | 328 |
Real Estate Loans [Member] | Farmland [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 0 |
Real Estate Loans [Member] | Other Construction Land [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 0 |
Real Estate Loans [Member] | One to Four Family [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 47 |
Real Estate Loans [Member] | Equity Line Of Credit [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 68 | 281 |
Real Estate Loans [Member] | Multifamily [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 0 |
Real Estate Loans [Member] | Commercial Real Estate Owner Occupied [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 0 |
Troubled Debt Restructurings Term Modifications [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 68 | 281 |
Troubled Debt Restructurings Term Modifications [Member] | Consumer Loan [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 0 |
Troubled Debt Restructurings Term Modifications [Member] | Commercial And Industrial Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 0 |
Troubled Debt Restructurings Term Modifications [Member] | Real Estate Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 68 | 281 |
Troubled Debt Restructurings Term Modifications [Member] | Real Estate Loans [Member] | Farmland [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 0 |
Troubled Debt Restructurings Term Modifications [Member] | Real Estate Loans [Member] | Other Construction Land [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 0 |
Troubled Debt Restructurings Term Modifications [Member] | Real Estate Loans [Member] | One to Four Family [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 0 |
Troubled Debt Restructurings Term Modifications [Member] | Real Estate Loans [Member] | Equity Line Of Credit [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 68 | 281 |
Troubled Debt Restructurings Term Modifications [Member] | Real Estate Loans [Member] | Multifamily [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 0 |
Troubled Debt Restructurings Term Modifications [Member] | Real Estate Loans [Member] | Commercial Real Estate Owner Occupied [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 0 |
Troubled Debt Restructurings Interest Only Modification [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 0 |
Troubled Debt Restructurings Interest Only Modification [Member] | Consumer Loan [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 0 |
Troubled Debt Restructurings Interest Only Modification [Member] | Commercial And Industrial Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 0 |
Troubled Debt Restructurings Interest Only Modification [Member] | Real Estate Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 0 |
Troubled Debt Restructurings Interest Only Modification [Member] | Real Estate Loans [Member] | Farmland [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 0 |
Troubled Debt Restructurings Interest Only Modification [Member] | Real Estate Loans [Member] | Other Construction Land [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 0 |
Troubled Debt Restructurings Interest Only Modification [Member] | Real Estate Loans [Member] | One to Four Family [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 0 |
Troubled Debt Restructurings Interest Only Modification [Member] | Real Estate Loans [Member] | Equity Line Of Credit [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 0 |
Troubled Debt Restructurings Interest Only Modification [Member] | Real Estate Loans [Member] | Multifamily [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 0 |
Troubled Debt Restructurings Interest Only Modification [Member] | Real Estate Loans [Member] | Commercial Real Estate Owner Occupied [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 0 |
Troubled Debt Restructurings Rate And Term Modifications [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 47 |
Troubled Debt Restructurings Rate And Term Modifications [Member] | Consumer Loan [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 0 |
Troubled Debt Restructurings Rate And Term Modifications [Member] | Commercial And Industrial Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 0 |
Troubled Debt Restructurings Rate And Term Modifications [Member] | Real Estate Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 47 |
Troubled Debt Restructurings Rate And Term Modifications [Member] | Real Estate Loans [Member] | Farmland [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 0 |
Troubled Debt Restructurings Rate And Term Modifications [Member] | Real Estate Loans [Member] | Other Construction Land [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 0 |
Troubled Debt Restructurings Rate And Term Modifications [Member] | Real Estate Loans [Member] | One to Four Family [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 47 |
Troubled Debt Restructurings Rate And Term Modifications [Member] | Real Estate Loans [Member] | Equity Line Of Credit [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 0 |
Troubled Debt Restructurings Rate And Term Modifications [Member] | Real Estate Loans [Member] | Multifamily [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | 0 | 0 |
Troubled Debt Restructurings Rate And Term Modifications [Member] | Real Estate Loans [Member] | Commercial Real Estate Owner Occupied [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable Modifications Post Modification Recorded Investment During Period | $ 0 | $ 0 |
Credit Quality and Nonperform46
Credit Quality and Nonperforming Assets - Troubled Debt Restructurings (Details) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2018USD ($)Number | Mar. 31, 2017USD ($)Number | ||
Financing Receivable, Modifications [Line Items] | |||
Pre-Modification Outstanding Recorded Investment | $ 68 | $ 328 | |
Post-Modification Outstanding Recorded Investment | 68 | 328 | |
Reserve Difference | [1] | 0 | 6 |
Reserve | $ 2 | $ 16 | |
Consumer Loan [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of Loans | Number | 0 | 0 | |
Pre-Modification Outstanding Recorded Investment | $ 0 | $ 0 | |
Post-Modification Outstanding Recorded Investment | 0 | 0 | |
Reserve Difference | [1] | 0 | 0 |
Reserve | $ 0 | $ 0 | |
Commercial And Industrial Loans [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of Loans | Number | 0 | 0 | |
Pre-Modification Outstanding Recorded Investment | $ 0 | $ 0 | |
Post-Modification Outstanding Recorded Investment | 0 | 0 | |
Reserve Difference | [1] | 0 | 0 |
Reserve | 0 | 0 | |
Real Estate Loans [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Pre-Modification Outstanding Recorded Investment | 68 | 328 | |
Post-Modification Outstanding Recorded Investment | 68 | 328 | |
Reserve Difference | [1] | 0 | 6 |
Reserve | $ 2 | $ 16 | |
Real Estate Loans [Member] | Farmland [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of Loans | Number | 0 | 0 | |
Pre-Modification Outstanding Recorded Investment | $ 0 | $ 0 | |
Post-Modification Outstanding Recorded Investment | 0 | 0 | |
Reserve Difference | [1] | 0 | 0 |
Reserve | $ 0 | $ 0 | |
Real Estate Loans [Member] | Other construction/Land [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of Loans | Number | 0 | 0 | |
Pre-Modification Outstanding Recorded Investment | $ 0 | $ 0 | |
Post-Modification Outstanding Recorded Investment | 0 | 0 | |
Reserve Difference | [1] | 0 | 0 |
Reserve | $ 0 | $ 0 | |
Real Estate Loans [Member] | One to Four Family [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of Loans | Number | 0 | 1 | |
Pre-Modification Outstanding Recorded Investment | $ 0 | $ 47 | |
Post-Modification Outstanding Recorded Investment | 0 | 47 | |
Reserve Difference | [1] | 0 | 2 |
Reserve | $ 0 | $ 2 | |
Real Estate Loans [Member] | Equity Line Of Credit [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of Loans | Number | 1 | 2 | |
Pre-Modification Outstanding Recorded Investment | $ 68 | $ 281 | |
Post-Modification Outstanding Recorded Investment | 68 | 281 | |
Reserve Difference | [1] | 0 | 4 |
Reserve | $ 2 | $ 14 | |
Real Estate Loans [Member] | Multifamily [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of Loans | Number | 0 | 0 | |
Pre-Modification Outstanding Recorded Investment | $ 0 | $ 0 | |
Post-Modification Outstanding Recorded Investment | 0 | 0 | |
Reserve Difference | [1] | 0 | 0 |
Reserve | $ 0 | $ 0 | |
Real Estate Loans [Member] | Commercial Real Estate Owner Occupied [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of Loans | Number | 0 | 0 | |
Pre-Modification Outstanding Recorded Investment | $ 0 | $ 0 | |
Post-Modification Outstanding Recorded Investment | 0 | 0 | |
Reserve Difference | [1] | 0 | 0 |
Reserve | $ 0 | $ 0 | |
[1] | This represents the change in the ALLL reserve for these credits measured as the difference between the specific post-modification impairment reserve and the pre-modification reserve calculated under our general allowance for loan loss methodology. |
Credit Quality and Nonperform47
Credit Quality and Nonperforming Assets - Carrying Amount and Unpaid Principal Balance of Purchased Credit Impaired Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 | |
Financing Receivable, Impaired [Line Items] | |||
Impaired Financing Receivable, Unpaid Principal Balance, Total | [1] | $ 15,331 | $ 17,379 |
Impaired Financing Receivable, Carrying Value, Total | [2] | 14,310 | 16,413 |
Purchased Credit Impaired Loans [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Impaired Financing Receivable, Unpaid Principal Balance, Total | 147 | 148 | |
Impaired Financing Receivable, Carrying Value, Total | 12 | 17 | |
Purchased Credit Impaired Loans [Member] | Real Estate Loans [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Impaired Financing Receivable, Unpaid Principal Balance, Total | 147 | 148 | |
Impaired Financing Receivable, Carrying Value, Total | $ 12 | $ 17 | |
[1] | Contractual principal balance due from customer. | ||
[2] | Principal balance on Company's books, less any direct charge offs. |
Allowance for Loan and Lease 48
Allowance for Loan and Lease Losses (Narrative) (Details) - USD ($) | Mar. 31, 2018 | Dec. 31, 2017 |
Receivables [Abstract] | ||
Impaired Financing Receivable With Specific Reserves | $ 911,000 | $ 957,000 |
Percentage Of Impaired Loans With Appraisal | 94.00% | |
General | $ 7,097,000 |
Allowance for Loan and Lease 49
Allowance for Loan and Lease Losses - Individually Impaired Loans (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2018 | Dec. 31, 2017 | ||
Financing Receivable, Impaired [Line Items] | |||
With an Allowance Recorded Unpaid Principal Balance | [1] | $ 13,617 | $ 14,452 |
With an Allowance Recorded Recorded Investment | [2] | 12,867 | 13,909 |
With an Allowance Recorded Related Allowance | 1,894 | 1,153 | |
With an Allowance Recorded Average Recorded Investment | 14,513 | 15,802 | |
With an Allowance Recorded Interest Income Recognized | [3] | 172 | 782 |
With no Related Allowance Recorded Unpaid Principal Balance | [1] | 1,714 | 2,927 |
With no Related Allowance Recorded Recorded Investment | [2] | 1,443 | 2,504 |
With no Related Allowance Recorded Related Allowance | 0 | 0 | |
With no Related Allowance Recorded Average Recorded Investment | 1,910 | 3,247 | |
With no Related Allowance Recorded Interest Income Recognized | [3] | 1 | 2 |
Individually impaired loans Unpaid Principal Balance | [1] | 15,331 | 17,379 |
Total impaired loans | [2] | 14,310 | 16,413 |
Individually impaired loans Related Allowance | 1,894 | ||
Individually impaired loans Average Recorded Investment | 16,423 | 19,049 | |
Individually impaired loans Interest Income Recognized | [3] | 173 | 784 |
Individually impaired loans Related Allowance | 1,153 | ||
Agricultural [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
With an Allowance Recorded Unpaid Principal Balance | [1] | 0 | 0 |
With an Allowance Recorded Recorded Investment | [2] | 0 | 0 |
With an Allowance Recorded Related Allowance | 0 | 0 | |
With an Allowance Recorded Average Recorded Investment | 0 | 0 | |
With an Allowance Recorded Interest Income Recognized | [3] | 0 | 0 |
With no Related Allowance Recorded Unpaid Principal Balance | [1] | 0 | 0 |
With no Related Allowance Recorded Recorded Investment | [2] | 0 | 0 |
With no Related Allowance Recorded Related Allowance | 0 | 0 | |
With no Related Allowance Recorded Average Recorded Investment | 0 | 0 | |
With no Related Allowance Recorded Interest Income Recognized | [3] | 0 | 0 |
Commercial And Industrial [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
With an Allowance Recorded Unpaid Principal Balance | [1] | 1,677 | 917 |
With an Allowance Recorded Recorded Investment | [2] | 1,482 | 917 |
With an Allowance Recorded Related Allowance | 958 | 188 | |
With an Allowance Recorded Average Recorded Investment | 1,971 | 1,576 | |
With an Allowance Recorded Interest Income Recognized | [3] | 11 | 83 |
With no Related Allowance Recorded Unpaid Principal Balance | [1] | 22 | 1,158 |
With no Related Allowance Recorded Recorded Investment | [2] | 22 | 1,147 |
With no Related Allowance Recorded Related Allowance | 0 | 0 | |
With no Related Allowance Recorded Average Recorded Investment | 34 | 1,433 | |
With no Related Allowance Recorded Interest Income Recognized | [3] | 0 | 0 |
Consumer Loan [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
With an Allowance Recorded Unpaid Principal Balance | [1] | 941 | 1,210 |
With an Allowance Recorded Recorded Investment | [2] | 894 | 1,201 |
With an Allowance Recorded Related Allowance | 158 | 237 | |
With an Allowance Recorded Average Recorded Investment | 1,089 | 1,433 | |
With an Allowance Recorded Interest Income Recognized | [3] | 17 | 96 |
With no Related Allowance Recorded Unpaid Principal Balance | [1] | 130 | 230 |
With no Related Allowance Recorded Recorded Investment | [2] | 25 | 76 |
With no Related Allowance Recorded Related Allowance | 0 | 0 | |
With no Related Allowance Recorded Average Recorded Investment | 196 | 317 | |
With no Related Allowance Recorded Interest Income Recognized | [3] | 0 | 0 |
Real Estate Loan [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
With an Allowance Recorded Unpaid Principal Balance | [1] | 10,999 | 12,325 |
With an Allowance Recorded Recorded Investment | [2] | 10,491 | 11,791 |
With an Allowance Recorded Related Allowance | 778 | 728 | |
With an Allowance Recorded Average Recorded Investment | 11,453 | 12,793 | |
With an Allowance Recorded Interest Income Recognized | [3] | 144 | 603 |
With no Related Allowance Recorded Unpaid Principal Balance | [1] | 1,562 | 1,539 |
With no Related Allowance Recorded Recorded Investment | [2] | 1,396 | 1,281 |
With no Related Allowance Recorded Related Allowance | 0 | 0 | |
With no Related Allowance Recorded Average Recorded Investment | 1,680 | 1,497 | |
With no Related Allowance Recorded Interest Income Recognized | [3] | 1 | 2 |
Real Estate Loan [Member] | Other construction/land [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
With an Allowance Recorded Unpaid Principal Balance | [1] | 636 | 678 |
With an Allowance Recorded Recorded Investment | [2] | 480 | 523 |
With an Allowance Recorded Related Allowance | 27 | 30 | |
With an Allowance Recorded Average Recorded Investment | 725 | 768 | |
With an Allowance Recorded Interest Income Recognized | [3] | 9 | 44 |
With no Related Allowance Recorded Unpaid Principal Balance | [1] | 27 | 28 |
With no Related Allowance Recorded Recorded Investment | [2] | 27 | 28 |
With no Related Allowance Recorded Related Allowance | 0 | 0 | |
With no Related Allowance Recorded Average Recorded Investment | 32 | 34 | |
With no Related Allowance Recorded Interest Income Recognized | [3] | 0 | 0 |
Real Estate Loan [Member] | 1-4 Family - closed-end [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
With an Allowance Recorded Unpaid Principal Balance | [1] | 3,056 | 4,061 |
With an Allowance Recorded Recorded Investment | [2] | 3,056 | 4,054 |
With an Allowance Recorded Related Allowance | 68 | 109 | |
With an Allowance Recorded Average Recorded Investment | 3,148 | 4,042 | |
With an Allowance Recorded Interest Income Recognized | [3] | 43 | 226 |
With no Related Allowance Recorded Unpaid Principal Balance | [1] | 984 | 885 |
With no Related Allowance Recorded Recorded Investment | [2] | 926 | 665 |
With no Related Allowance Recorded Related Allowance | 0 | 0 | |
With no Related Allowance Recorded Average Recorded Investment | 1,025 | 746 | |
With no Related Allowance Recorded Interest Income Recognized | [3] | 1 | 2 |
Real Estate Loan [Member] | Equity lines [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
With an Allowance Recorded Unpaid Principal Balance | [1] | 4,325 | 4,546 |
With an Allowance Recorded Recorded Investment | [2] | 4,240 | 4,446 |
With an Allowance Recorded Related Allowance | 483 | 405 | |
With an Allowance Recorded Average Recorded Investment | 4,457 | 4,711 | |
With an Allowance Recorded Interest Income Recognized | [3] | 47 | 154 |
With no Related Allowance Recorded Unpaid Principal Balance | [1] | 397 | 206 |
With no Related Allowance Recorded Recorded Investment | [2] | 298 | 178 |
With no Related Allowance Recorded Related Allowance | 0 | 0 | |
With no Related Allowance Recorded Average Recorded Investment | 408 | 208 | |
With no Related Allowance Recorded Interest Income Recognized | [3] | 0 | 0 |
Real Estate Loan [Member] | Multi Family Residential [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
With an Allowance Recorded Unpaid Principal Balance | [1] | 385 | 390 |
With an Allowance Recorded Recorded Investment | [2] | 385 | 391 |
With an Allowance Recorded Related Allowance | 28 | 29 | |
With an Allowance Recorded Average Recorded Investment | 399 | 410 | |
With an Allowance Recorded Interest Income Recognized | [3] | 5 | 24 |
Real Estate Loan [Member] | Commercial Real Estate Owner Occupied [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
With an Allowance Recorded Unpaid Principal Balance | [1] | 911 | 926 |
With an Allowance Recorded Recorded Investment | [2] | 791 | 801 |
With an Allowance Recorded Related Allowance | 169 | 151 | |
With an Allowance Recorded Average Recorded Investment | 885 | 948 | |
With an Allowance Recorded Interest Income Recognized | [3] | 13 | 44 |
With no Related Allowance Recorded Unpaid Principal Balance | [1] | 112 | 117 |
With no Related Allowance Recorded Recorded Investment | [2] | 112 | 117 |
With no Related Allowance Recorded Related Allowance | 0 | 0 | |
With no Related Allowance Recorded Average Recorded Investment | 150 | 157 | |
With no Related Allowance Recorded Interest Income Recognized | [3] | 0 | 0 |
Real Estate Loan [Member] | Commercial Real Estate Non Owner Occupied [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
With an Allowance Recorded Unpaid Principal Balance | [1] | 1,686 | 1,724 |
With an Allowance Recorded Recorded Investment | [2] | 1,539 | 1,576 |
With an Allowance Recorded Related Allowance | 3 | 4 | |
With an Allowance Recorded Average Recorded Investment | 1,839 | 1,914 | |
With an Allowance Recorded Interest Income Recognized | [3] | 27 | 111 |
With no Related Allowance Recorded Unpaid Principal Balance | [1] | 9 | 10 |
With no Related Allowance Recorded Recorded Investment | [2] | 0 | 0 |
With no Related Allowance Recorded Related Allowance | 0 | 0 | |
With no Related Allowance Recorded Average Recorded Investment | 17 | 25 | |
With no Related Allowance Recorded Interest Income Recognized | [3] | 0 | 0 |
Real Estate Loan [Member] | Farmland [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
With no Related Allowance Recorded Unpaid Principal Balance | [1] | 33 | 293 |
With no Related Allowance Recorded Recorded Investment | [2] | 33 | 293 |
With no Related Allowance Recorded Related Allowance | 0 | 0 | |
With no Related Allowance Recorded Average Recorded Investment | 48 | 327 | |
With no Related Allowance Recorded Interest Income Recognized | [3] | $ 0 | $ 0 |
[1] | Contractual principal balance due from customer. | ||
[2] | Principal balance on Company's books, less any direct charge offs. | ||
[3] | Interest income is recognized on performing balances on a regular accrual basis. |
Allowance for Loan and Lease 50
Allowance for Loan and Lease Losses - Activity in Allowance for Loan and Lease Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2018 | Dec. 31, 2017 | |
Allowance for credit losses: | ||
Beginning Balance | $ 9,043 | $ 9,701 |
Charge-offs | (624) | (3,085) |
Recoveries | 372 | 3,567 |
Provision | 200 | (1,140) |
Ending Balance | 8,991 | 9,043 |
Reserves: | ||
Specific | 1,894 | 1,153 |
General | 7,097 | 7,890 |
Ending Balance | 8,991 | 9,043 |
Loans evaluated for impairment: | ||
Individually | 14,310 | 16,413 |
Collectively | 1,577,906 | 1,541,407 |
Ending Balance | 1,592,216 | 1,557,820 |
Unallocated [Member] | ||
Allowance for credit losses: | ||
Beginning Balance | 46 | 457 |
Charge-offs | 0 | 0 |
Recoveries | 0 | 0 |
Provision | (24) | (411) |
Ending Balance | 22 | 46 |
Reserves: | ||
Specific | 0 | 0 |
General | 22 | 46 |
Ending Balance | 22 | 46 |
Loans evaluated for impairment: | ||
Individually | 0 | 0 |
Collectively | 0 | 0 |
Ending Balance | 0 | 0 |
Agricultural Products [Member] | ||
Allowance for credit losses: | ||
Beginning Balance | 208 | 209 |
Charge-offs | 0 | (154) |
Recoveries | 0 | 5 |
Provision | 18 | 148 |
Ending Balance | 226 | 208 |
Reserves: | ||
Specific | 0 | 0 |
General | 226 | 208 |
Ending Balance | 226 | 208 |
Loans evaluated for impairment: | ||
Individually | 0 | 0 |
Collectively | 54,270 | 46,796 |
Ending Balance | 54,270 | 46,796 |
Commercial and Industrial [Member] | ||
Allowance for credit losses: | ||
Beginning Balance | 2,772 | 4,279 |
Charge-offs | (33) | (669) |
Recoveries | 29 | 310 |
Provision | 137 | (1,148) |
Ending Balance | 2,905 | 2,772 |
Reserves: | ||
Specific | 958 | 188 |
General | 1,947 | 2,584 |
Ending Balance | 2,905 | 2,772 |
Loans evaluated for impairment: | ||
Individually | 1,504 | 2,064 |
Collectively | 236,840 | 271,618 |
Ending Balance | 238,344 | 273,682 |
Consumer Loan [Member] | ||
Allowance for credit losses: | ||
Beginning Balance | 1,231 | 1,208 |
Charge-offs | (565) | (2,161) |
Recoveries | 279 | 1,017 |
Provision | 57 | 1,167 |
Ending Balance | 1,002 | 1,231 |
Reserves: | ||
Specific | 158 | 237 |
General | 844 | 994 |
Ending Balance | 1,002 | 1,231 |
Loans evaluated for impairment: | ||
Individually | 919 | 1,277 |
Collectively | 8,520 | 9,349 |
Ending Balance | 9,439 | 10,626 |
Real Estate Loan [Member] | ||
Allowance for credit losses: | ||
Beginning Balance | 4,786 | 3,548 |
Charge-offs | (26) | (101) |
Recoveries | 64 | 2,235 |
Provision | 12 | (896) |
Ending Balance | 4,836 | 4,786 |
Reserves: | ||
Specific | 778 | 728 |
General | 4,058 | 4,058 |
Ending Balance | 4,836 | 4,786 |
Loans evaluated for impairment: | ||
Individually | 11,887 | 13,072 |
Collectively | 1,278,276 | 1,213,644 |
Ending Balance | $ 1,290,163 | $ 1,226,716 |
Recent Developments (Narrative)
Recent Developments (Narrative) (Details) - USD ($) | Nov. 03, 2017 | Oct. 01, 2017 | Mar. 31, 2018 | Jan. 23, 2018 | Dec. 31, 2017 |
Recent Developments [Line Items] | |||||
Goodwill | $ 27,357,000 | $ 27,357,000 | |||
Ojai Community Bancorp [Member] | |||||
Recent Developments [Line Items] | |||||
Business acquisition, percentage of voting interests acquired | 100.00% | ||||
Payments to acquire businesses | $ 809,000 | ||||
Payments to acquire businesses, in shares | 1,376,431 | ||||
Business acquisition, loans, fair value | $ 218,000,000 | ||||
Business acquisition, deposits, fair value | 231,000,000 | ||||
Goodwill | 18,500,000 | ||||
Business acquisition, intangibles | $ 3,500,000 | ||||
Business acquisition, intangibles, useful life | 8 years | ||||
Woodlake Branch of Citizen’s Business Bank [Member] | |||||
Recent Developments [Line Items] | |||||
Goodwill | $ 625,000 | ||||
Business acquisition, intangibles | $ 486,000 | ||||
Business acquisition, intangibles, useful life | 8 years | ||||
Business acquisition, deposits | $ 27,000,000 | ||||
Business acquisition, property and equipment | $ 500,000 | ||||
Community Bank of Santa Maria [Member] | |||||
Recent Developments [Line Items] | |||||
Business acquisition, deposits | $ 40,000,000 | $ 40,000,000 | |||
Business acquisition, property and equipment | $ 1,700,000 |