Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2016 | Jul. 29, 2016 | |
Document Information [Line Items] | ||
Entity Registrant Name | AMES NATIONAL CORPORATION | |
Entity Central Index Key | 1,132,651 | |
Trading Symbol | atlo | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Well-known Seasoned Issuer | No | |
Entity Common Stock, Shares Outstanding (in shares) | 9,310,913 | |
Document Type | 10-Q | |
Document Period End Date | Jun. 30, 2016 | |
Document Fiscal Year Focus | 2,016 | |
Document Fiscal Period Focus | Q2 | |
Amendment Flag | false |
Consolidated Balance Sheets (Un
Consolidated Balance Sheets (Unaudited) - USD ($) | Jun. 30, 2016 | Dec. 31, 2015 |
Cash and due from banks | $ 20,299,644 | $ 24,005,801 |
Interest bearing deposits in financial institutions | 31,235,295 | 26,993,091 |
Securities available-for-sale | 528,801,262 | 537,632,990 |
Loans receivable, net | 712,940,747 | 701,328,171 |
Loans held for sale | 1,645,090 | 539,370 |
Bank premises and equipment, net | 16,590,627 | 17,007,798 |
Accrued income receivable | 7,384,529 | 7,565,791 |
Other real estate owned | 1,053,923 | 1,249,915 |
Deferred income taxes | 1,276,571 | |
Core deposit intangible, net | 1,122,017 | 1,308,731 |
Goodwill | 6,732,216 | 6,732,216 |
Other assets | 1,041,651 | 1,106,698 |
Total assets | 1,328,847,001 | 1,326,747,143 |
LIABILITIES | ||
Demand, noninterest bearing | 192,096,304 | 202,542,011 |
NOW accounts | 298,819,035 | 298,227,493 |
Savings and money market | 365,932,378 | 354,026,475 |
Time, $250,000 and over | 35,089,704 | 36,956,653 |
Other time | 173,427,209 | 182,440,490 |
Total deposits | 1,065,364,630 | 1,074,193,122 |
Securities sold under agreements to repurchase | 41,945,656 | 54,289,915 |
Federal funds purchased | 959,000 | |
Federal Home Loan Bank (FHLB) advances | 29,800,000 | 18,542,203 |
Other borrowings | 13,000,000 | 13,000,000 |
Deferred income taxes | 1,498,380 | |
Dividend payable | 1,955,292 | 1,862,183 |
Accrued expenses and other liabilities | 4,236,546 | 3,609,663 |
Total liabilities | 1,158,759,504 | 1,165,497,086 |
STOCKHOLDERS' EQUITY | ||
Common stock, $2 par value, authorized 18,000,000 shares; issued and outstanding 9,310,913 shares as of June 30, 2016 and December 31, 2015 | 18,621,826 | 18,621,826 |
Additional paid-in capital | 20,878,728 | 20,878,728 |
Retained earnings | 122,263,655 | 118,267,767 |
Accumulated other comprehensive income - net unrealized gain on securities available-for-sale | 8,323,288 | 3,481,736 |
Total stockholders' equity | 170,087,497 | 161,250,057 |
Total liabilities and stockholders' equity | $ 1,328,847,001 | $ 1,326,747,143 |
Consolidated Balance Sheets (U3
Consolidated Balance Sheets (Unaudited) (Parentheticals) - $ / shares | Jun. 30, 2016 | Dec. 31, 2015 |
Common stock, par value (in dollars per share) | $ 2 | $ 2 |
Common stock, shares authorized (in shares) | 18,000,000 | 18,000,000 |
Common stock, shares issued (in shares) | 9,310,913 | 9,310,913 |
Common stock, shares outstanding (in shares) | 9,310,913 | 9,310,913 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Interest income: | ||||
Loans, including fees | $ 8,030,602 | $ 7,712,057 | $ 15,888,572 | $ 15,111,747 |
Securities: | ||||
Taxable | 1,471,926 | 1,566,298 | 2,967,236 | 3,132,696 |
Tax-exempt | 1,388,791 | 1,479,726 | 2,788,822 | 2,966,086 |
Interest bearing deposits and federal funds sold | 114,353 | 100,669 | 210,056 | 194,047 |
Total interest income | 11,005,672 | 10,858,750 | 21,854,686 | 21,404,576 |
Interest expense: | ||||
Deposits | 755,377 | 768,650 | 1,505,498 | 1,531,046 |
Other borrowed funds | 258,339 | 302,611 | 521,709 | 640,774 |
Total interest expense | 1,013,716 | 1,071,261 | 2,027,207 | 2,171,820 |
Net interest income | 9,991,956 | 9,787,489 | 19,827,479 | 19,232,756 |
Provision for loan losses | 14,070 | 921,513 | 206,084 | 998,813 |
Net interest income after provision for loan losses | 9,977,886 | 8,865,976 | 19,621,395 | 18,233,943 |
Noninterest income: | ||||
Wealth management income | 738,213 | 681,347 | 1,525,321 | 1,369,257 |
Service fees | 404,614 | 444,798 | 801,705 | 839,357 |
Securities gains, net | 29,500 | 492,355 | 231,193 | 497,304 |
Gain on sale of loans held for sale | 257,254 | 285,312 | 434,011 | 499,298 |
Merchant and card fees | 356,817 | 351,879 | 700,890 | 666,473 |
Other noninterest income | 139,235 | 151,296 | 331,985 | 301,517 |
Total noninterest income | 1,925,633 | 2,406,987 | 4,025,105 | 4,173,206 |
Noninterest expense: | ||||
Salaries and employee benefits | 3,854,417 | 3,810,977 | 7,906,201 | 7,535,911 |
Data processing | 780,732 | 704,596 | 1,541,864 | 1,369,131 |
Occupancy expenses, net | 407,989 | 467,509 | 1,011,426 | 993,596 |
FDIC insurance assessments | 161,531 | 167,274 | 325,519 | 350,270 |
Professional fees | 325,085 | 312,732 | 593,001 | 605,170 |
Business development | 220,956 | 232,088 | 456,116 | 464,932 |
Other real estate owned expense, net | 23,225 | 562,147 | 3,609 | 710,210 |
Core deposit intangible amortization | 91,466 | 109,375 | 186,714 | 222,998 |
Other operating expenses, net | 255,286 | 325,454 | 530,961 | 578,791 |
Total noninterest expense | 6,120,687 | 6,692,152 | 12,555,411 | 12,831,009 |
Income before income taxes | 5,782,832 | 4,580,811 | 11,091,089 | 9,576,140 |
Provision for income taxes | 1,683,451 | 1,216,001 | 3,184,617 | 2,576,401 |
Net income | $ 4,099,381 | $ 3,364,810 | $ 7,906,472 | $ 6,999,739 |
Basic and diluted earnings per share (in dollars per share) | $ 0.44 | $ 0.36 | $ 0.85 | $ 0.75 |
Dividends declared per share (in dollars per share) | $ 0.21 | $ 0.20 | $ 0.42 | $ 0.40 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Net income | $ 4,099,381 | $ 3,364,810 | $ 7,906,472 | $ 6,999,739 |
Other comprehensive income (loss), before tax: | ||||
Unrealized holding gains (losses) arising during the period | 3,952,639 | (5,188,994) | 7,916,196 | (1,694,048) |
Less: reclassification adjustment for gains realized in net income | 29,500 | 492,355 | 231,193 | 497,304 |
Other comprehensive income (loss), before tax | 3,923,139 | (5,681,349) | 7,685,003 | (2,191,352) |
Tax effect related to other comprehensive income (loss) | (1,451,561) | 2,102,102 | (2,843,451) | 810,799 |
Other comprehensive income (loss), net of tax | 2,471,578 | (3,579,247) | 4,841,552 | (1,380,553) |
Comprehensive income (loss) | $ 6,570,959 | $ (214,437) | $ 12,748,024 | $ 5,619,186 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balance at Dec. 31, 2014 | $ 18,621,826 | $ 20,878,728 | $ 110,701,847 | $ 4,472,017 | $ 154,674,418 |
Net income | 6,999,739 | 6,999,739 | |||
Other comprehensive income (loss) | (1,380,553) | (1,380,553) | |||
Cash dividends declared | (3,724,366) | (3,724,366) | |||
Balance at Jun. 30, 2015 | 18,621,826 | 20,878,728 | 113,977,220 | 3,091,464 | 156,569,238 |
Balance at Dec. 31, 2015 | 18,621,826 | 20,878,728 | 118,267,767 | 3,481,736 | 161,250,057 |
Net income | 7,906,472 | 7,906,472 | |||
Other comprehensive income (loss) | 4,841,552 | 4,841,552 | |||
Cash dividends declared | (3,910,584) | (3,910,584) | |||
Balance at Jun. 30, 2016 | $ 18,621,826 | $ 20,878,728 | $ 122,263,655 | $ 8,323,288 | $ 170,087,497 |
Consolidated Statements of Sto7
Consolidated Statements of Stockholders' Equity (Unaudited) (Parentheticals) - $ / shares | 6 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | |
Retained Earnings [Member] | ||
Cash dividends declared, per share (in dollars per share) | $ 0.42 | $ 0.40 |
Cash dividends declared, per share (in dollars per share) | $ 0.42 | $ 0.40 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 6 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net income | $ 7,906,472 | $ 6,999,739 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Provision for loan losses | 206,084 | 998,813 |
Provision for off-balance sheet commitments | 32,000 | 30,000 |
Amortization, net | 1,533,920 | 1,741,585 |
Amortization of core deposit intangible asset | 186,714 | 222,998 |
Depreciation | 572,632 | 531,182 |
Deferred income taxes | (68,500) | 272,200 |
Securities gains, net | (231,193) | (497,304) |
Loss on sale of premises and equipment, net | 1,132 | |
Impairment of other real estate owned | 590,453 | |
(Gain) loss on sale of other real estate owned, net | (4,642) | 44,340 |
Change in assets and liabilities: | ||
(Increase) decrease in loans held for sale | (1,105,720) | 239,850 |
Decrease in accrued income receivable | 181,262 | 35,775 |
(Increase) decrease in other assets | 62,076 | (417,699) |
Increase in accrued expenses and other liabilities | 594,883 | 7,775 |
Net cash provided by operating activities | 9,865,988 | 10,800,839 |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Purchase of securities available-for-sale | (36,400,109) | (66,691,223) |
Proceeds from sale of securities available-for-sale | 12,886,350 | 15,380,232 |
Proceeds from maturities and calls of securities available-for-sale | 38,639,280 | 43,267,099 |
Net (increase) decrease in interest bearing deposits in financial institutions | (4,242,204) | 1,778,270 |
Decrease in federal funds sold | 6,000 | |
Net (increase) in loans | (11,748,177) | (19,761,533) |
Net proceeds from the sale of other real estate owned | 200,634 | 3,243,022 |
Purchase of bank premises and equipment, net | (152,490) | (945,636) |
Net cash (used in) investing activities | (816,716) | (23,723,769) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Increase (decrease) in deposits | (8,810,492) | 27,327,445 |
(Decrease) in securities sold under agreements to repurchase and federal funds purchased | (11,385,259) | (7,786,609) |
Payments on FHLB borrowings and other borrowings | (1,542,203) | (6,099,370) |
Proceeds from short-term FHLB borrowings, net | 12,800,000 | 5,600,000 |
Dividends paid | (3,817,475) | (3,538,147) |
Net cash provided by (used in) financing activities | (12,755,429) | 15,503,319 |
Net increase (decrease) in cash and due from banks | (3,706,157) | 2,580,389 |
Beginning | 24,005,801 | 23,730,257 |
Ending | 20,299,644 | 26,310,646 |
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION | ||
Interest | 2,054,551 | 2,317,338 |
Income taxes | $ 2,524,913 | 2,921,262 |
SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING ACTIVITIES | ||
Transfer of loans receivable to other real estate owned | $ 29,613 |
Note 1 - Significant Accounting
Note 1 - Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 1. Significant Accounting Policies The consolidated financial statements for the three and six months ended June 30, 2016 and 2015 are unaudited. In the opinion of the management of Ames National Corporation (the "Company"), these financial statements reflect all adjustments, consisting only of normal recurring accruals, necessary to present fairly these consolidated financial statements. The results of operations for the interim periods are not necessarily indicative of results which may be expected for an entire year. Certain information and footnote disclosures normally included in complete financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been omitted in accordance with the requirements for interim financial statements. The interim financial statements and notes thereto should be read in conjunction with the year-end audited financial statements contained in the Company's Annual Report on Form 10-K for the year ended December 31, 2015 (the “Annual Report”). The consolidated financial statements include the accounts of the Company and its wholly-owned banking subsidiaries (the “Banks”). All significant intercompany balances and transactions have been eliminated in consolidation. Goodwill: Goodwill represents the excess of cost over the fair value of net assets acquired. Goodwill resulting from acquisitions is not amortized, but is tested for impairment annually or whenever events change and circumstances indicate that it is more likely than not that an impairment loss has occurred. Goodwill is tested for impairment using a two-step process that begins with an estimation of the fair value of a reporting unit. The second step, if necessary, measures the amount of impairment, if any. Significant judgment is applied when goodwill is assessed for impairment. This judgment includes developing cash flow projections, selecting appropriate discount rates, identifying relevant market comparables, incorporating general economic and market conditions and selecting an appropriate control premium. At June 30, 2016, Company management has performed a goodwill impairment assessment and determined goodwill was not impaired. Current Accounting Developments: In February 2016, the Financial Accounting Standards Board issued Accounting Standards Update No. 2016-02, Leases (Topic 842). The ASU requires a lessee to recognize on the balance sheet assets and liabilities for leases with lease terms of more than 12 months. Consistent with current Generally Accepted Accounting Principles (“GAAP”), the recognition, measurement, and presentation of expenses and cash flows arising from a lease by a lessee primarily will depend on its classification as a finance or operating lease. Unlike current GAAP, which requires that only capital leases be recognized on the balance sheet, the ASC requires that both types of leases by recognized on the balance sheet. For public companies, this update will be effective for interim and annual periods beginning after December 15, 2018. Early application is permitted. The adoption of this guidance is not expected to have a material impact on the Company’s consolidated financial statements. In February 2016, the Financial Accounting Standards Board issued Accounting Standards Update No. 2016-01, Financial Instruments-Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. Among other items the ASC requires public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes. For public companies, this update will be effective for interim and annual periods beginning after December 15, 2017. The effect of the adoption of this guidance has not yet been determined by the Company. In June 2016, the Financial Accounting Standards Board issued Accounting Standards Update No. 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. The ASU requires an organization to measure all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. Financial institutions and other organizations will now use forward-looking information to better inform their credit loss estimates. Many of the loss estimation techniques applied today will still be permitted, although the inputs to those techniques will change to reflect the full amount of expected credit losses. Organizations will continue to use judgment to determine which loss estimation method is appropriate for their circumstances. Additionally, the ASU amends the accounting for credit losses on available-for-sale debt securities and purchased financial assets with credit deterioration. For public companies, this update will be effective for interim and annual periods beginning after December 15, 2019. The effect of the adoption of this guidance has not yet been determined by the Company. |
Note 2 - Dividends
Note 2 - Dividends | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Dividends Disclosure [Text Block] | 2. Dividends On May 11, 2016, the Company declared a cash dividend on its common stock, payable on August 15, 2016 to stockholders of record as of August 1, 2016, equal to $0.21 per share. |
Note 3 - Earnings Per Share
Note 3 - Earnings Per Share | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 3. Earnings Per Share Earnings per share amounts were calculated using the weighted average shares outstanding during the periods presented. The weighted average outstanding shares for the three and six months ended June 30, 2016 and 2015 were 9,310,913. The Company had no potentially dilutive securities outstanding during the periods presented. |
Note 4 - Off-balance Sheet Arra
Note 4 - Off-balance Sheet Arrangements | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Loans and Leases Receivable Commitments [Text Block] | 4. Off-Balance Sheet Arrangements The Company is party to financial instruments with off-balance sheet risk in the normal course of business. These financial instruments include commitments to extend credit and standby letters of credit. These instruments involve, to varying degrees, elements of credit risk in excess of the amount recognized in the balance sheet. No material changes in the Company’s off-balance sheet arrangements have occurred since December 31, 2015. |
Note 5 - Fair Value Measurement
Note 5 - Fair Value Measurements | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 5. Fair Value Measurements Assets and liabilities carried at fair value are required to be classified and disclosed according to the process for determining fair value. There are three levels of determining fair value. Level 1: Inputs to the valuation methodology are quoted prices, unadjusted, for identical assets or liabilities in active markets. A quoted price in an active market provides the most reliable evidence of fair value and shall be used to measure fair value whenever available. Level 2: Inputs to the valuation methodology include: quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability (such as interest rates, volatility, prepayment speeds, credit risk); or inputs derived principally from or can be corroborated by observable market data by correlation or other means. Level 3: Inputs to the valuation methodology are unobservable and significant to the fair value measurement. Level 3 assets and liabilities include financial instruments whose value is determined using discounted cash flow methodologies, as well as instruments for which the determination of fair value requires significant management judgment or estimation. The following table presents the balances of assets measured at fair value on a recurring basis by level as of June 30, 2016 and December 31, 2015. (in thousands) Description Total Level 1 Level 2 Level 3 2016 U.S. government treasuries $ 1,512 $ 1,512 $ - $ - U.S. government agencies 110,124 - 110,124 - U.S. government mortgage-backed securities 91,498 - 91,498 - State and political subdivisions 268,046 - 268,046 - Corporate bonds 54,158 - 54,158 - Equity securities, other 3,463 - 3,463 - $ 528,801 $ 1,512 $ 527,289 $ - 2015 U.S. government treasuries $ 1,467 $ 1,467 $ - $ - U.S. government agencies 106,445 - 106,445 - U.S. government mortgage-backed securities 98,079 - 98,079 - State and political subdivisions 277,597 - 277,597 - Corporate bonds 50,889 - 50,889 - Equity securities, other 3,156 - 3,156 - $ 537,633 $ 1,467 $ 536,166 $ - Level 1 securities include U.S. Treasury securities that are traded by dealers or brokers in active over-the-counter markets. U.S government mortgage-backed securities, state and political subdivisions, most corporate bonds and other equity securities are reported at fair value utilizing Level 2 inputs. For these securities, the Company obtains fair value measurements from an independent pricing service. The fair value measurements consider observable data that may include dealer quotes, market spreads, cash flows, the U.S. Treasury yield curve, live trading levels, trade execution data, market consensus prepayment speeds, credit information and the security’s terms and conditions, among other things. The Company's policy is to recognize transfers between levels at the end of each reporting period, if applicable. There were no transfers between levels of the fair value hierarchy during the six months ended June 30, 2016. Certain assets are measured at fair value on a nonrecurring basis; that is, they are subject to fair value adjustments in certain circumstances (for example, when there is evidence of impairment). The following table presents the assets carried on the balance sheet (after specific reserves) by caption and by level within the valuation hierarchy as of June 30, 2016 and December 31, 2015. (in thousands) Description Total Level 1 Level 2 Level 3 2016 Loans receivable $ 994 $ - $ - $ 994 Other real estate owned 1,054 - - 1,054 Total $ 2,048 $ - $ - $ 2,048 2015 Loans receivable $ 603 $ - $ - $ 603 Other real estate owned 1,250 - - 1,250 Total $ 1,853 $ - $ - $ 1,853 Loans Receivable : Loans in the tables above consist of impaired credits held for investment. In accordance with the loan impairment guidance, impairment was measured based on the fair value of collateral less estimated selling costs for collateral dependent loans. Fair value for impaired loans is based upon appraised values of collateral adjusted for trends observed in the market. A valuation allowance was recorded for the excess of the loan’s recorded investment over the amounts determined by the collateral value method. This valuation allowance is a component of the allowance for loan losses. The Company considers these fair value measurements as level 3. Other Real Estate Owned: The significant inputs used in the fair value measurements for Level 3 assets measured at fair value on a nonrecurring basis as of June 30, 2016 and December 31, 2015 are as follows: (in thousands) 2016 Estimated Fair Value Valuation Techniques Unobservable Inputs Range (Average) Impaired Loans $ 994 Evaluation of collateral Estimation of value NM* Other real estate owned $ 1,054 Appraisal Appraisal adjustment 3% - 10% (6%) 2015 Estimated Fair Value Valuation Techniques Unobservable Inputs Range (Average) Impaired Loans $ 603 Evaluation of collateral Estimation of value NM* Other real estate owned $ 1,250 Appraisal Appraisal adjustment 6% - 10% (8%) * Not Meaningful. Evaluations of the underlying assets are completed for each impaired loan with a specific reserve. The types of collateral vary widely and could include accounts receivables, inventory, a variety of equipment and real estate. Collateral evaluations are reviewed and discounted as appropriate based on knowledge of the specific type of collateral. In the case of real estate, an independent appraisal may be obtained. Types of discounts considered included aging of receivables, condition of the collateral, potential market for the collateral and estimated disposal costs. These discounts will vary from loan to loan, thus providing a range would not be meaningful. Accounting principles generally accepted in the United States of America (GAAP) requires disclosure of the fair value of financial assets and financial liabilities, including those that are not measured and reported at fair value on a recurring basis or nonrecurring basis. The methodologies for estimating the fair value of financial assets and financial liabilities that are measured at fair value on a recurring or nonrecurring basis are discussed above. The methodologies for other financial assets and financial liabilities are discussed below. Fair value of financial instruments: Disclosure of fair value information about financial instruments, for which it is practicable to estimate that value, is required whether or not recognized in the consolidated balance sheets. In cases in which quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimate of future cash flows. In that regard, the derived fair value estimates cannot be substantiated by comparison to independent markets and, in many cases could not be realized in immediate settlement of the instruments. Certain financial instruments with a fair value that is not practicable to estimate and all non-financial instruments are excluded from the disclosure requirements. Accordingly, the aggregate fair value amounts presented do not necessarily represent the underlying value of the Company. The following disclosures represent financial instruments in which the ending balances at June 30, 2016 and December 31, 2015 are not carried at fair value in their entirety on the consolidated balance sheets. Cash and due from banks and interest bearing deposits in financial institutions: The recorded amount of these assets approximates fair value. Securities available-for-sale U.S government mortgage-backed securities, state and political subdivisions, some corporate bonds and other equity securities are reported at fair value utilizing Level 2 inputs. Loans receivable Loans held for sale Deposit s Securities sold under agreements to repurchase and federal funds purchased FHLB advances and other borrowings: Accrued income receivable and accrued interest payable Commitments to extend credit and standby letters of credit: Limitations The estimated fair values of the Company’s financial instruments as described above as of June 30, 2016 and December 31, 2015 are as follows: (in thousands) 2016 2015 Fair Value Hierarchy Level Carrying Amount Estimated Fair Value Carrying Amount Estimated Fair Value Financial assets: Cash and due from banks Level 1 $ 20,300 $ 20,300 $ 24,006 $ 24,006 Interest bearing deposits Level 1 31,235 31,235 26,993 26,993 Securities available-for-sale See previous table 528,801 528,801 537,633 537,633 Loans receivable, net Level 2 712,941 712,117 701,328 702,438 Loans held for sale Level 2 1,646 1,646 539 539 Accrued income receivable Level 1 7,385 7,385 7,566 7,566 Financial liabilities: Deposits Level 2 $ 1,065,364 $ 1,066,803 $ 1,074,193 $ 1,075,289 Securities sold under agreements to repurchase Level 1 41,946 41,946 54,290 54,290 Federal funds purchased Level 1 959 959 - - FHLB advances Level 2 29,800 30,203 18,542 19,017 Other borrowings Level 2 13,000 13,653 13,000 13,807 Accrued interest payable Level 1 404 404 413 413 The methodologies used to determine fair value as of June 30, 2016 did not change from the methodologies described in the December 31, 2015 Annual Financial Statements. |
Note 6 - Debt and Equity Securi
Note 6 - Debt and Equity Securities | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | 6. Debt and Equity Securities The amortized cost of securities available-for-sale and their fair values as of June 30, 2016 and December 31, 2015 are summarized below: (in thousands) 2016: Gross Gross Amortized Unrealized Unrealized Estimated Cost Gains Losses Fair Value U.S. government treasuries $ 1,451 $ 61 $ - $ 1,512 U.S. government agencies 106,870 3,304 (50 ) 110,124 U.S. government mortgage-backed securities 88,626 2,880 (8 ) 91,498 State and political subdivisions 262,024 6,262 (240 ) 268,046 Corporate bonds 53,156 1,078 (76 ) 54,158 Equity securities, other 3,463 - - 3,463 $ 515,590 $ 13,585 $ (374 ) $ 528,801 2015: Gross Gross Amortized Unrealized Unrealized Estimated Cost Gains Losses Fair Value U.S. government treasuries $ 1,444 $ 23 $ - $ 1,467 U.S. government agencies 105,948 797 (300 ) 106,445 U.S. government mortgage-backed securities 96,373 1,828 (123 ) 98,078 State and political subdivisions 273,771 4,359 (533 ) 277,597 Corporate bonds 51,414 227 (751 ) 50,890 Equity securities, other 3,156 - - 3,156 $ 532,106 $ 7,234 $ (1,707 ) $ 537,633 The proceeds, gains and losses from securities available-for-sale are summarized as follows: (in thousands) Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Proceeds from sales of securities available-for-sale $ 521 $ 14,863 $ 12,886 $ 15,380 Gross realized gains on securities available-for-sale 29 492 237 497 Gross realized losses on securities available-for-sale - - (6 ) - Tax provision applicable to net realized gains on securities available-for-sale 10 183 81 185 Unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position are summarized as of June 30, 2016 and December 31, 2015 are as follows: (in thousands) Less than 12 Months 12 Months or More Total 2016: Estimated Fair Value Unrealized Losses Estimated Fair Value Unrealized Losses Estimated Fair Value Unrealized Losses Securities available-for-sale: U.S. government agencies $ 4,158 $ (50 ) $ - $ - $ 4,158 $ (50 ) U.S. government mortgage-backed securities 1,954 (8 ) - - 1,954 (8 ) State and political subdivisions 10,482 (233 ) 3,279 (7 ) 13,761 (240 ) Corporate bonds - - 5,404 (76 ) 5,404 (76 ) $ 16,594 $ (291 ) $ 8,683 $ (83 ) $ 25,277 $ (374 ) Less than 12 Months 12 Months or More Total 2015: Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Securities available-for-sale: U.S. government agencies $ 30,245 $ (253 ) $ 3,121 $ (47 ) $ 33,366 $ (300 ) U.S. government mortgage-backed securities 22,842 (123 ) - - 22,842 (123 ) State and political subdivisions 38,202 (414 ) 11,096 (119 ) 49,298 (533 ) Corporate bonds 22,091 (249 ) 14,614 (502 ) 36,705 (751 ) $ 113,380 $ (1,039 ) $ 28,831 $ (668 ) $ 142,211 $ (1,707 ) Gross unrealized losses on debt securities totaled $374,000 as of June 30, 2016. These unrealized losses are generally due to changes in interest rates or general market conditions. In analyzing an issuer’s financial condition, management considers whether the securities are issued by the federal government or its agencies, state or political subdivision, or corporations. Management then determines whether downgrades by bond rating agencies have occurred, and reviews industry analysts’ reports. The Company’s procedures for evaluating investments in states, municipalities and political subdivisions include but are not limited to reviewing the offering statement and the most current available financial information, comparing yields to yields of bonds of similar credit quality, confirming capacity to repay, assessing operating and financial performance, evaluating the stability of tax revenues, considering debt profiles and local demographics, and for revenue bonds, assessing the source and strength of revenue structures for municipal authorities. These procedures, as applicable, are utilized for all municipal purchases and are utilized in whole or in part for monitoring the portfolio of municipal holdings. The Company does not utilize third party credit rating agencies as a primary component of determining if the municipal issuer has an adequate capacity to meet the financial commitments under the security for the projected life of the investment, and, therefore, does not compare internal assessments to those of the credit rating agencies. Credit rating downgrades are utilized as an additional indicator of credit weakness and as a reference point for historical default rates. Management concluded that the gross unrealized losses on debt securities were temporary. Due to potential changes in conditions, it is at least reasonably possible that changes in fair values and management’s assessments will occur in the near term and that such changes could materially affect the amounts reported in the Company’s financial statements. |
Note 7 - Loans Receivable and C
Note 7 - Loans Receivable and Credit Disclosures | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Financing Receivables [Text Block] | 7. Loans Receivable and Credit Disclosures Activity in the allowance for loan losses, on a disaggregated basis, for the three and six months ended June 30, 2016 and 2015 is as follows: (in thousands) Three Months Ended June 30, 2016 Construction Real Estate 1-4 Family Residential Real Estate Commercial Real Estate Agricultural Real Estate Commercial Agricultural Consumer and Other Total Balance, March 31, 2016 $ 787 $ 1,757 $ 3,763 $ 817 $ 1,400 $ 1,322 $ 256 $ 10,102 Provision (credit) for loan losses (44 ) (15 ) 127 17 34 (103 ) (2 ) 14 Recoveries of loans charged-off 15 - - - 5 - 4 24 Loans charged-off - - - - - - (5 ) (5 ) Balance, June 30, 2016 $ 758 $ 1,742 $ 3,890 $ 834 $ 1,439 $ 1,219 $ 253 $ 10,135 Six Months Ended June 30, 2016 Construction Real Estate 1-4 Family Residential Real Estate Commercial Real Estate Agricultural Real Estate Commercial Agricultural Consumer and Other Total Balance, December 31, 2015 $ 999 $ 1,806 $ 3,557 $ 760 $ 1,371 $ 1,256 $ 239 $ 9,988 Provision (credit) for loan losses (256 ) (66 ) 333 74 139 (37 ) 19 206 Recoveries of loans charged-off 15 2 - - 6 - 5 28 Loans charged-off - - - - (77 ) - (10 ) (87 ) Balance, June 30, 2016 $ 758 $ 1,742 $ 3,890 $ 834 $ 1,439 $ 1,219 $ 253 $ 10,135 Three Months Ended June 30, 2015 Construction Real Estate 1-4 Family Residential Real Estate Commercial Real Estate Agricultural Real Estate Commercial Agricultural Consumer and Other Total Balance, March 31, 2015 $ 536 $ 1,752 $ 3,238 $ 769 $ 1,137 $ 1,297 $ 197 $ 8,926 Provision for loan losses 272 64 352 43 126 41 24 922 Recoveries of loans charged-off 15 16 - - - - 5 36 Loans charged-off - (6 ) - - - - (6 ) (12 ) Balance, June 30, 2015 $ 823 $ 1,826 $ 3,590 $ 812 $ 1,263 $ 1,338 $ 220 $ 9,872 Six Months Ended June 30, 2015 Construction Real Estate 1-4 Family Residential Real Estate Commercial Real Estate Agricultural Real Estate Commercial Agricultural Consumer and Other Total Balance, December 31, 2014 $ 495 $ 1,648 $ 3,214 $ 737 $ 1,247 $ 1,312 $ 186 $ 8,839 Provision for loan losses 308 164 376 75 15 27 34 999 Recoveries of loans charged-off 20 20 - - 1 1 6 48 Loans charged-off - (6 ) - - - (2 ) (6 ) (14 ) Balance, June 30, 2015 $ 823 $ 1,826 $ 3,590 $ 812 $ 1,263 $ 1,338 $ 220 $ 9,872 (in thousands ) 2016 1-4 Family Construction Residential Commercial Agricultural Consumer Real Estate Real Estate Real Estate Real Estate Commercial Agricultural and Other Total Individually evaluated for impairment $ - $ 143 $ - $ - $ 219 $ - $ 2 $ 364 Collectively evaluated for impairment 758 1,599 3,890 834 1,220 1,219 251 9,771 Balance June 30, 2016 $ 758 $ 1,742 $ 3,890 $ 834 $ 1,439 $ 1,219 $ 253 $ 10,135 2015 1-4 Family Construction Residential Commercial Agricultural Consumer Real Estate Real Estate Real Estate Real Estate Commercial Agricultural and Other Total Individually evaluated for impairment $ - $ 273 $ 2 $ - $ 164 $ - $ - $ 439 Collectively evaluated for impairment 999 1,533 3,555 760 1,207 1,256 239 9,549 Balance December 31, 2015 $ 999 $ 1,806 $ 3,557 $ 760 $ 1,371 $ 1,256 $ 239 $ 9,988 Loans receivable disaggregated on the basis of impairment analysis method as of June 30, 2016 and December 31, 2015 is as follows (in thousands) 2016 1-4 Family Construction Residential Commercial Agricultural Consumer Real Estate Real Estate Real Estate Real Estate Commercial Agricultural and Other Total Individually evaluated for impairment $ - $ 1,165 $ 468 $ - $ 733 $ 11 $ 92 $ 2,469 Collectively evaluated for impairment 53,757 136,064 291,165 67,857 77,142 72,762 21,970 720,717 Balance June 30, 2016 $ 53,757 $ 137,229 $ 291,633 $ 67,857 $ 77,875 $ 72,773 $ 22,062 $ 723,186 2015 1-4 Family Construction Residential Commercial Agricultural Consumer Real Estate Real Estate Real Estate Real Estate Commercial Agricultural and Other Total Individually evaluated for impairment $ - $ 1,050 $ 558 $ - $ 197 $ 11 $ 2 $ 1,818 Collectively evaluated for impairment 66,268 126,026 251,331 62,530 102,318 79,522 21,597 709,592 Balance December 31, 2015 $ 66,268 $ 127,076 $ 251,889 $ 62,530 $ 102,515 $ 79,533 $ 21,599 $ 711,410 A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payment of principal and interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. The Company will apply its normal loan review procedures to identify loans that should be evaluated for impairment. The following is a recap of impaired loans, on a disaggregated basis, as of June 30, 2016 and December 31, 2015: (in thousands) 2016 2015 Recorded Investment Unpaid Principal Balance Related Allowance Recorded Investment Unpaid Principal Balance Related Allowance With no specific reserve recorded: Real estate - construction $ - $ - $ - $ - $ 31 $ - Real estate - 1 to 4 family residential 533 555 - 296 304 - Real estate - commercial 468 1,065 - 456 1,030 - Real estate - agricultural - - - - - - Commercial 9 16 - 11 17 - Agricultural 11 13 - 11 13 - Consumer and other 90 91 - 2 2 - Total loans with no specific reserve: 1,111 1,740 - 776 1,397 - With an allowance recorded: Real estate - construction - - - - - - Real estate - 1 to 4 family residential 632 776 143 754 891 273 Real estate - commercial - - - 102 111 2 Real estate - agricultural - - - - - - Commercial 724 735 219 186 262 164 Agricultural - - - - - - Consumer and other 2 2 2 - - - Total loans with specific reserve: 1,358 1,513 364 1,042 1,264 439 Total Real estate - construction - - - - 31 - Real estate - 1 to 4 family residential 1,165 1,331 143 1,050 1,195 273 Real estate - commercial 468 1,065 - 558 1,141 2 Real estate - agricultural - - - - - - Commercial 733 751 219 197 279 164 Agricultural 11 13 - 11 13 - Consumer and other 92 93 2 2 2 - $ 2,469 $ 3,253 $ 364 $ 1,818 $ 2,661 $ 439 The following is a recap of the average recorded investment and interest income recognized on impaired loans for the three and six months ended June 30, 2016 and 2015: (in thousands) Three Months Ended June 30, 2016 2015 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized With no specific reserve recorded: Real estate - construction $ - $ 31 $ 145 $ 77 Real estate - 1 to 4 family residential 513 - 160 - Real estate - commercial 487 22 568 - Real estate - agricultural - - - - Commercial 10 - 314 - Agricultural 11 - 11 - Consumer and other 88 - 4 1 Total loans with no specific reserve: 1,109 53 1,202 78 With an allowance recorded: Real estate - construction - - - - Real estate - 1 to 4 family residential 640 - 766 - Real estate - commercial - - 154 - Real estate - agricultural - - - - Commercial 729 - 76 - Agricultural - - - - Consumer and other 1 - - - Total loans with specific reserve: 1,370 - 996 - Total Real estate - construction - 31 145 77 Real estate - 1 to 4 family residential 1,153 - 926 - Real estate - commercial 487 22 722 - Real estate - agricultural - - - - Commercial 739 - 390 - Agricultural 11 - 11 - Consumer and other 89 - 4 1 $ 2,479 $ 53 $ 2,198 $ 78 Six Months Ended June 30, 2016 2015 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized With no specific reserve recorded: Real estate - construction $ - $ 31 $ 162 $ 77 Real estate - 1 to 4 family residential 441 1 115 - Real estate - commercial 476 22 603 - Real estate - agricultural - - - - Commercial 10 - 361 3 Agricultural 11 - 14 - Consumer and other 59 - 6 2 Total loans with no specific reserve: 997 54 1,261 82 With an allowance recorded: Real estate - construction - - - - Real estate - 1 to 4 family residential 678 5 773 - Real estate - commercial 34 - 155 - Real estate - agricultural - - - - Commercial 548 - 78 - Agricultural - - - - Consumer and other 1 - - - Total loans with specific reserve: 1,261 5 1,006 - Total Real estate - construction - 31 162 77 Real estate - 1 to 4 family residential 1,119 6 888 - Real estate - commercial 510 22 758 - Real estate - agricultural - - - - Commercial 558 - 439 3 Agricultural 11 - 14 - Consumer and other 60 - 6 2 $ 2,258 $ 59 $ 2,267 $ 82 The interest foregone on nonaccrual loans for the three months ended June 30, 2016 and 2015 was approximately $39,000 and $43,000, respectively. The interest foregone on nonaccrual loans for the six months ended June 30, 2016 and 2015 was approximately $79,000 and $87,000, respectively The Company had loans meeting the definition of a troubled debt restructuring (TDR) of $1,420,000 as of June 30, 2016, of which all were included in impaired loans and nonaccrual loans. The Company had TDRs of $780,000 as of December 31, 2015, all of which were included in impaired and nonaccrual loans. The following tables sets forth information on the Company’s TDRs, on a disaggregated basis, occurring in the three and six months ended June 30, 2016 and 2015: ( dollars in thousands) Three Months Ended June 30, 2016 2015 Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Real estate - construction - $ - $ - - $ - $ - Real estate - 1 to 4 family residential - - - - - - Real estate - commercial - - - - - - Real estate - agricultural - - - - - - Commercial 3 702 705 - - - Agricultural - - - - - - Consumer and other - - - - - - 3 $ 702 $ 705 - $ - $ - Six Months Ended June 30, 2016 2015 Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Real estate - construction - $ - $ - - $ - $ - Real estate - 1 to 4 family residential - - - - - - Real estate - commercial - - - - - - Real estate - agricultural - - - - - - Commercial 3 702 705 - - - Agricultural - - - - - - Consumer and other 3 70 70 - - - 6 $ 772 $ 775 - $ - $ - During the three months ended June 30, 2016, the Company granted concessions to a borrower that was experiencing financial difficulties with three loans. During the six months ended June 30, 2016, the Company granted concessions to two borrowers experiencing financial difficulties with six loans. The three consumer loans were extended beyond normal terms at an interest rate below a market interest rate. The three commercial operating loans were extended beyond normal terms. The Company did not grant any concessions on any significant loans experiencing financial difficulties during the three and six months ended June 30, 2015. The Company considers TDR loans to have payment default when it is past due 60 days or more. No TDR loan modified during the twelve months ended June 30, 2016 and 2015 had a payment default. There were no charge-offs related to TDRs for the six months ended June 30, 2016 and 2015. An aging analysis of the recorded investments in loans, on a disaggregated basis, as of June 30, 2016 and December 31, 2015, is as follows: (in thousands) 2016 90 Days 90 Days 30-89 or Greater Total or Greater Past Due Past Due Past Due Current Total Accruing Real estate - construction $ 459 $ 85 $ 544 $ 53,213 $ 53,757 $ 85 Real estate - 1 to 4 family residential 1,253 233 1,486 135,743 137,229 - Real estate - commercial 1,151 - 1,151 290,482 291,633 - Real estate - agricultural - - - 67,857 67,857 - Commercial 627 - 627 77,248 77,875 - Agricultural 256 - 256 72,517 72,773 - Consumer and other 142 20 162 21,900 22,062 - $ 3,888 $ 338 $ 4,226 $ 718,960 $ 723,186 $ 85 2015 90 Days 90 Days 30-89 or Greater Total or Greater Past Due Past Due Past Due Current Total Accruing Real estate - construction $ - $ - $ - $ 66,268 $ 66,268 $ - Real estate - 1 to 4 family residential 1,311 307 1,618 125,458 127,076 75 Real estate - commercial 1,356 - 1,356 250,533 251,889 - Real estate - agricultural - - - 62,530 62,530 - Commercial 266 204 470 102,045 102,515 - Agricultural - - - 79,533 79,533 - Consumer and other 79 - 79 21,520 21,599 - $ 3,012 $ 511 $ 3,523 $ 707,887 $ 711,410 $ 75 The credit risk profile by internally assigned grade, on a disaggregated basis, as of June 30, 2016 and December 31, 2015 is as follows: (in thousands) 2016 Construction Commercial Agricultural Real Estate Real Estate Real Estate Commercial Agricultural Total Pass $ 50,356 $ 265,581 $ 53,714 $ 59,706 $ 53,122 $ 482,479 Watch 2,481 19,164 13,412 15,439 18,555 69,051 Special Mention - 761 - 184 75 1,020 Substandard 920 5,659 731 1,813 1,010 10,133 Substandard-Impaired - 468 - 733 11 1,212 $ 53,757 $ 291,633 $ 67,857 $ 77,875 $ 72,773 $ 563,895 2015 Construction Commercial Agricultural Real Estate Real Estate Real Estate Commercial Agricultural Total Pass $ 60,700 $ 227,425 $ 55,503 $ 91,096 $ 71,457 $ 506,181 Watch 4,487 17,523 6,865 8,329 7,156 44,360 Special Mention - 388 - 224 81 693 Substandard 1,081 5,995 162 2,669 828 10,735 Substandard-Impaired - 558 - 197 11 766 $ 66,268 $ 251,889 $ 62,530 $ 102,515 $ 79,533 $ 562,735 The credit risk profile based on payment activity, on a disaggregated basis, as of June 30, 2016 and December 31, 2015 is as follows: 2016 1-4 Family Residential Consumer Real Estate and Other Total Performing $ 136,037 $ 22,015 $ 158,052 Non-performing 1,192 47 1,239 $ 137,229 $ 22,062 $ 159,291 2015 1-4 Family Residential Consumer Real Estate and Other Total Performing $ 125,951 $ 21,597 $ 147,548 Non-performing 1,125 2 1,127 $ 127,076 $ 21,599 $ 148,675 |
Note 8 - Other Real Estate Owne
Note 8 - Other Real Estate Owned | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Real Estate Owned [Text Block] | 8. Other Real Estate Owned The following table provides the composition of other real estate owned as of June 30, 2016 and December 31, 2015: (in thousands) 2016 2015 Construction and land development $ 739 $ 739 1 to 4 family residential real estate 315 511 $ 1,054 $ 1,250 The Company is actively marketing the assets referred to in the table above. Management uses appraised values and adjusts for trends observed in the market and for disposition costs in determining the value of other real estate owned. The assets above are primarily located in the Ames, Iowa area. |
Note 9 - Goodwill
Note 9 - Goodwill | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Goodwill Disclosure [Text Block] | 9. Goodwill Goodwill is not amortized but is evaluated for impairment at least annually. For income tax purposes, goodwill is amortized over fifteen years. |
Note 10 - Core Deposit Intangib
Note 10 - Core Deposit Intangible Asset | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Intangible Assets Disclosure [Text Block] | 10. Core deposit intangible asset The following sets forth the carrying amounts and accumulated amortization of core deposit intangible assets at June 30, 2016 and December 31, 2015: (in thousands) 2016 2015 Gross Amount Accumulated Amortization Gross Amount Accumulated Amortization Core deposit intangible asset $ 2,518 $ 1,396 $ 2,518 $ 1,209 The weighted average life of the core deposit intangible is 3 years as of June 30, 2016 and December 31, 2015. The following sets forth the activity related to core deposit intangible assets for the three and six months ended June 30, 2016 and 2015: (in thousands) Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Beginning core deposit intangible, net $ 1,214 $ 1,617 $ 1,309 $ 1,730 Amortization (92 ) (110 ) (187 ) (223 ) Ending core deposit intangible, net $ 1,122 $ 1,507 $ 1,122 $ 1,507 Estimated remaining amortization expense on core deposit intangible for the years ending December 31 st (in thousands) 2016 $ 166 2017 298 2018 251 2019 128 2020 71 2021 71 After 137 $ 1,122 |
Note 11 - Secured Borrowings
Note 11 - Secured Borrowings | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 11. Secured Borrowings The following sets forth the pledged collateral at estimated fair value related to securities sold under repurchase agreements and term repurchase agreements as of June 30, 2016 and December 31, 2015: (in thousands) 2016 2015 Remaining Contractual Maturity of the Agreements Overnight Greater than Total Overnight Greater than Total 90 days 90 days Securities sold under agreements to repurchase: U.S. government treasuries $ 1,512 $ - $ 1,512 $ 1,467 $ - $ 1,467 U.S. government agencies 47,893 - 47,893 46,755 - 46,755 U.S. government mortgage-backed securities 35,820 - 35,820 41,657 - 41,657 Total $ 85,225 $ - $ 85,225 $ 89,879 $ - $ 89,879 Term repurchase agreements (Other borrowings): U.S. government agencies $ - $ 15,625 $ 15,625 $ - $ 12,503 $ 12,503 U.S. government mortgage-backed securities - 419 419 - 676 676 Total $ - $ 16,044 $ 16,044 $ - $ 13,179 $ 13,179 Total pledged collateral $ 85,225 $ 16,044 $ 101,269 $ 89,879 $ 13,179 $ 103,058 In the event the repurchase agreements exceed the estimated fair value of the pledged securities available-for-sale, the Company has unpledged securities available-for-sale that may be pledged on the repurchase agreements. |
Note 12 - Regulatory Matters
Note 12 - Regulatory Matters | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | 12. Regulatory Matters The Company and the Banks capital amounts and ratios are as follows: ( dollars in thousands Actual For Capital Adequacy Purposes To Be Well Capitalized Under Prompt Corrective Action Provisions Amount Ratio Amount Ratio Amount Ratio As of June 30, 2016: Total capital (to risk-weighted assets): Consolidated $ 165,424 17.4 % $ 75,948 8.0 % N/A N/A Boone Bank & Trust 14,839 16.7 7,111 8.0 $ 8,889 10.0 % First National Bank 76,135 15.4 39,443 8.0 49,304 10.0 Reliance State Bank 25,191 14.5 13,929 8.0 17,411 10.0 State Bank & Trust 20,031 17.5 9,144 8.0 11,429 10.0 United Bank & Trust 14,845 19.9 5,958 8.0 7,447 10.0 Tier 1 capital (to risk-weighted assets): Consolidated $ 154,748 16.3 % $ 56,961 6.0 % N/A N/A Boone Bank & Trust 13,910 15.6 5,334 6.0 $ 7,111 8.0 % First National Bank 71,046 14.4 29,582 6.0 39,443 8.0 Reliance State Bank 23,244 13.4 10,447 6.0 13,929 8.0 State Bank & Trust 18,598 16.3 6,858 6.0 9,144 8.0 United Bank & Trust 14,080 18.9 4,468 6.0 5,958 8.0 Tier 1 capital (to average-weighted assets): Consolidated $ 154,748 11.7 % $ 52,730 4.0 % N/A N/A Boone Bank & Trust 13,910 10.1 5,508 4.0 $ 6,885 5.0 % First National Bank 71,046 10.0 28,360 4.0 35,450 5.0 Reliance State Bank 23,244 10.9 8,497 4.0 10,622 5.0 State Bank & Trust 18,598 12.3 6,060 4.0 7,576 5.0 United Bank & Trust 14,080 12.5 4,502 4.0 5,627 5.0 Common equity tier 1 capital (to risk-weighted assets): Consolidated $ 154,748 16.3 % $ 42,721 4.5 % N/A N/A Boone Bank & Trust 13,910 15.6 4,000 4.5 $ 5,778 6.5 % First National Bank 71,046 14.4 22,187 4.5 32,048 6.5 Reliance State Bank 23,244 13.4 7,835 4.5 11,317 6.5 State Bank & Trust 18,598 16.3 5,143 4.5 7,429 6.5 United Bank & Trust 14,080 18.9 3,351 4.5 4,841 6.5 To Be Well Capitalized Under For Capital Prompt Corrective Actual Adequacy Purposes Action Provisions Amount Ratio Amount Ratio Amount Ratio As of December 31, 2015: Total capital (to risk-weighted assets): Consolidated $ 157,926 16.6 % $ 76,179 8.0 % N/A N/A Boone Bank & Trust 14,525 15.5 7,477 8.0 $ 9,346 10.0 % First National Bank 74,210 15.3 38,859 8.0 48,574 10.0 Reliance State Bank 24,287 13.8 14,101 8.0 17,626 10.0 State Bank & Trust 19,658 16.2 9,729 8.0 12,161 10.0 United Bank & Trust 14,621 20.6 5,693 8.0 7,116 10.0 Tier 1 capital (to risk-weighted assets): Consolidated $ 147,430 15.5 % $ 57,134 6.0 % N/A N/A Boone Bank & Trust 13,569 14.5 5,608 6.0 $ 7,477 8.0 % First National Bank 69,157 14.2 29,144 6.0 38,859 8.0 Reliance State Bank 22,491 12.8 10,575 6.0 14,101 8.0 State Bank & Trust 18,135 14.9 7,297 6.0 9,729 8.0 United Bank & Trust 13,858 19.5 4,269 6.0 5,693 8.0 Tier 1 capital (to average-weighted assets): Consolidated $ 147,430 11.3 % $ 52,657 4.0 % N/A N/A Boone Bank & Trust 13,569 9.8 5,557 4.0 $ 6,946 5.0 % First National Bank 69,157 9.9 27,970 4.0 34,963 5.0 Reliance State Bank 22,491 10.7 8,380 4.0 10,476 5.0 State Bank & Trust 18,135 11.5 6,332 4.0 7,915 5.0 United Bank & Trust 13,858 12.5 4,452 4.0 5,565 5.0 Common equity tier 1 capital (to risk-weighted assets): Consolidated $ 147,430 15.5 % $ 42,851 4.5 % N/A N/A Boone Bank & Trust 13,569 14.5 4,206 4.5 $ 6,075 6.5 % First National Bank 69,157 14.2 21,858 4.5 31,573 6.5 Reliance State Bank 22,491 12.8 7,932 4.5 11,457 6.5 State Bank & Trust 18,135 14.9 5,473 4.5 7,905 6.5 United Bank & Trust 13,858 19.5 3,202 4.5 4,625 6.5 The Federal Reserve Board and the FDIC issued final rules implementing the Basel III regulatory capital framework and related Dodd-Frank Wall Street Reform and Consumer Protection Act changes in July 2013. The rules revise minimum capital requirements and adjust prompt corrective action thresholds. The final rules revise the regulatory capital elements, add a new common equity Tier I capital ratio, increase the minimum Tier 1 capital ratio requirements and implement a new capital conservation buffer. The rules also permit certain banking organizations to retain, through a one-time election, the existing treatment for accumulated other comprehensive income. The Company and the Banks have made the election to retain the existing treatment for accumulated other comprehensive income. The final rules took effect for the Company and the Banks on January 1, 2015, subject to a transition period for certain parts of the rules. Beginning in 2016, an additional capital conservation buffer was added to the minimum requirements for capital adequacy purposes, subject to a three year phase-in period. The capital conservation buffer will be fully phased-in on January 1, 2019 at 2.5 percent. A banking organization with a conservation buffer of less than 2.5 percent (or the required phase-in amount in years prior to 2019) will be subject to limitations on capital distributions, including dividend payments and certain discretionary bonus payments to executive officers. At the present time, the ratios for the Company and the Banks are sufficient to meet the fully phased-in conservation buffer. |
Note 13 - Subsequent Events
Note 13 - Subsequent Events | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 13. Subsequent Events Management evaluated subsequent events through the date the financial statements were issued. There were no significant events or transactions occurring after June 30, 2016, but prior to August 9, 2016, that provided additional evidence about conditions that existed at June 30, 2016. There were no other significant events or transactions that provided evidence about conditions that did not exist at June 30, 2016. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2016 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | The consolidated financial statements for the three and six months ended June 30, 2016 and 2015 are unaudited. In the opinion of the management of Ames National Corporation (the "Company"), these financial statements reflect all adjustments, consisting only of normal recurring accruals, necessary to present fairly these consolidated financial statements. The results of operations for the interim periods are not necessarily indicative of results which may be expected for an entire year. Certain information and footnote disclosures normally included in complete financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been omitted in accordance with the requirements for interim financial statements. The interim financial statements and notes thereto should be read in conjunction with the year-end audited financial statements contained in the Company's Annual Report on Form 10-K for the year ended December 31, 2015 (the “Annual Report”). The consolidated financial statements include the accounts of the Company and its wholly-owned banking subsidiaries (the “Banks”). All significant intercompany balances and transactions have been eliminated in consolidation. |
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block] | Goodwill: Goodwill represents the excess of cost over the fair value of net assets acquired. Goodwill resulting from acquisitions is not amortized, but is tested for impairment annually or whenever events change and circumstances indicate that it is more likely than not that an impairment loss has occurred. Goodwill is tested for impairment using a two-step process that begins with an estimation of the fair value of a reporting unit. The second step, if necessary, measures the amount of impairment, if any. Significant judgment is applied when goodwill is assessed for impairment. This judgment includes developing cash flow projections, selecting appropriate discount rates, identifying relevant market comparables, incorporating general economic and market conditions and selecting an appropriate control premium. At June 30, 2016, Company management has performed a goodwill impairment assessment and determined goodwill was not impaired. |
New Accounting Pronouncements, Policy [Policy Text Block] | Current Accounting Developments: In February 2016, the Financial Accounting Standards Board issued Accounting Standards Update No. 2016-02, Leases (Topic 842). The ASU requires a lessee to recognize on the balance sheet assets and liabilities for leases with lease terms of more than 12 months. Consistent with current Generally Accepted Accounting Principles (“GAAP”), the recognition, measurement, and presentation of expenses and cash flows arising from a lease by a lessee primarily will depend on its classification as a finance or operating lease. Unlike current GAAP, which requires that only capital leases be recognized on the balance sheet, the ASC requires that both types of leases by recognized on the balance sheet. For public companies, this update will be effective for interim and annual periods beginning after December 15, 2018. Early application is permitted. The adoption of this guidance is not expected to have a material impact on the Company’s consolidated financial statements. In February 2016, the Financial Accounting Standards Board issued Accounting Standards Update No. 2016-01, Financial Instruments-Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. Among other items the ASC requires public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes. For public companies, this update will be effective for interim and annual periods beginning after December 15, 2017. The effect of the adoption of this guidance has not yet been determined by the Company. In June 2016, the Financial Accounting Standards Board issued Accounting Standards Update No. 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. The ASU requires an organization to measure all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. Financial institutions and other organizations will now use forward-looking information to better inform their credit loss estimates. Many of the loss estimation techniques applied today will still be permitted, although the inputs to those techniques will change to reflect the full amount of expected credit losses. Organizations will continue to use judgment to determine which loss estimation method is appropriate for their circumstances. Additionally, the ASU amends the accounting for credit losses on available-for-sale debt securities and purchased financial assets with credit deterioration. For public companies, this update will be effective for interim and annual periods beginning after December 15, 2019. The effect of the adoption of this guidance has not yet been determined by the Company. |
Note 5 - Fair Value Measureme23
Note 5 - Fair Value Measurements (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Notes Tables | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | Description Total Level 1 Level 2 Level 3 2016 U.S. government treasuries $ 1,512 $ 1,512 $ - $ - U.S. government agencies 110,124 - 110,124 - U.S. government mortgage-backed securities 91,498 - 91,498 - State and political subdivisions 268,046 - 268,046 - Corporate bonds 54,158 - 54,158 - Equity securities, other 3,463 - 3,463 - $ 528,801 $ 1,512 $ 527,289 $ - 2015 U.S. government treasuries $ 1,467 $ 1,467 $ - $ - U.S. government agencies 106,445 - 106,445 - U.S. government mortgage-backed securities 98,079 - 98,079 - State and political subdivisions 277,597 - 277,597 - Corporate bonds 50,889 - 50,889 - Equity securities, other 3,156 - 3,156 - $ 537,633 $ 1,467 $ 536,166 $ - |
Fair Value Measurements, Nonrecurring [Table Text Block] | Description Total Level 1 Level 2 Level 3 2016 Loans receivable $ 994 $ - $ - $ 994 Other real estate owned 1,054 - - 1,054 Total $ 2,048 $ - $ - $ 2,048 2015 Loans receivable $ 603 $ - $ - $ 603 Other real estate owned 1,250 - - 1,250 Total $ 1,853 $ - $ - $ 1,853 |
Fair Value Inputs, Assets, Quantitative Information [Table Text Block] | 2016 Estimated Fair Value Valuation Techniques Unobservable Inputs Range (Average) Impaired Loans $ 994 Evaluation of collateral Estimation of value NM* Other real estate owned $ 1,054 Appraisal Appraisal adjustment 3% - 10% (6%) 2015 Estimated Fair Value Valuation Techniques Unobservable Inputs Range (Average) Impaired Loans $ 603 Evaluation of collateral Estimation of value NM* Other real estate owned $ 1,250 Appraisal Appraisal adjustment 6% - 10% (8%) |
Fair Value, by Balance Sheet Grouping [Table Text Block] | 2016 2015 Fair Value Hierarchy Level Carrying Amount Estimated Fair Value Carrying Amount Estimated Fair Value Financial assets: Cash and due from banks Level 1 $ 20,300 $ 20,300 $ 24,006 $ 24,006 Interest bearing deposits Level 1 31,235 31,235 26,993 26,993 Securities available-for-sale See previous table 528,801 528,801 537,633 537,633 Loans receivable, net Level 2 712,941 712,117 701,328 702,438 Loans held for sale Level 2 1,646 1,646 539 539 Accrued income receivable Level 1 7,385 7,385 7,566 7,566 Financial liabilities: Deposits Level 2 $ 1,065,364 $ 1,066,803 $ 1,074,193 $ 1,075,289 Securities sold under agreements to repurchase Level 1 41,946 41,946 54,290 54,290 Federal funds purchased Level 1 959 959 - - FHLB advances Level 2 29,800 30,203 18,542 19,017 Other borrowings Level 2 13,000 13,653 13,000 13,807 Accrued interest payable Level 1 404 404 413 413 |
Note 6 - Debt and Equity Secu24
Note 6 - Debt and Equity Securities (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Notes Tables | |
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | 2016: Gross Gross Amortized Unrealized Unrealized Estimated Cost Gains Losses Fair Value U.S. government treasuries $ 1,451 $ 61 $ - $ 1,512 U.S. government agencies 106,870 3,304 (50 ) 110,124 U.S. government mortgage-backed securities 88,626 2,880 (8 ) 91,498 State and political subdivisions 262,024 6,262 (240 ) 268,046 Corporate bonds 53,156 1,078 (76 ) 54,158 Equity securities, other 3,463 - - 3,463 $ 515,590 $ 13,585 $ (374 ) $ 528,801 2015: Gross Gross Amortized Unrealized Unrealized Estimated Cost Gains Losses Fair Value U.S. government treasuries $ 1,444 $ 23 $ - $ 1,467 U.S. government agencies 105,948 797 (300 ) 106,445 U.S. government mortgage-backed securities 96,373 1,828 (123 ) 98,078 State and political subdivisions 273,771 4,359 (533 ) 277,597 Corporate bonds 51,414 227 (751 ) 50,890 Equity securities, other 3,156 - - 3,156 $ 532,106 $ 7,234 $ (1,707 ) $ 537,633 |
Realized Gain (Loss) on Investments [Table Text Block] | Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Proceeds from sales of securities available-for-sale $ 521 $ 14,863 $ 12,886 $ 15,380 Gross realized gains on securities available-for-sale 29 492 237 497 Gross realized losses on securities available-for-sale - - (6 ) - Tax provision applicable to net realized gains on securities available-for-sale 10 183 81 185 |
Schedule of Unrealized Loss on Investments [Table Text Block] | Less than 12 Months 12 Months or More Total 2016: Estimated Fair Value Unrealized Losses Estimated Fair Value Unrealized Losses Estimated Fair Value Unrealized Losses Securities available-for-sale: U.S. government agencies $ 4,158 $ (50 ) $ - $ - $ 4,158 $ (50 ) U.S. government mortgage-backed securities 1,954 (8 ) - - 1,954 (8 ) State and political subdivisions 10,482 (233 ) 3,279 (7 ) 13,761 (240 ) Corporate bonds - - 5,404 (76 ) 5,404 (76 ) $ 16,594 $ (291 ) $ 8,683 $ (83 ) $ 25,277 $ (374 ) Less than 12 Months 12 Months or More Total 2015: Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Securities available-for-sale: U.S. government agencies $ 30,245 $ (253 ) $ 3,121 $ (47 ) $ 33,366 $ (300 ) U.S. government mortgage-backed securities 22,842 (123 ) - - 22,842 (123 ) State and political subdivisions 38,202 (414 ) 11,096 (119 ) 49,298 (533 ) Corporate bonds 22,091 (249 ) 14,614 (502 ) 36,705 (751 ) $ 113,380 $ (1,039 ) $ 28,831 $ (668 ) $ 142,211 $ (1,707 ) |
Note 7 - Loans Receivable and25
Note 7 - Loans Receivable and Credit Disclosures (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Notes Tables | |
Allowance for Credit Losses on Financing Receivables [Table Text Block] | Three Months Ended June 30, 2016 Construction Real Estate 1-4 Family Residential Real Estate Commercial Real Estate Agricultural Real Estate Commercial Agricultural Consumer and Other Total Balance, March 31, 2016 $ 787 $ 1,757 $ 3,763 $ 817 $ 1,400 $ 1,322 $ 256 $ 10,102 Provision (credit) for loan losses (44 ) (15 ) 127 17 34 (103 ) (2 ) 14 Recoveries of loans charged-off 15 - - - 5 - 4 24 Loans charged-off - - - - - - (5 ) (5 ) Balance, June 30, 2016 $ 758 $ 1,742 $ 3,890 $ 834 $ 1,439 $ 1,219 $ 253 $ 10,135 Six Months Ended June 30, 2016 Construction Real Estate 1-4 Family Residential Real Estate Commercial Real Estate Agricultural Real Estate Commercial Agricultural Consumer and Other Total Balance, December 31, 2015 $ 999 $ 1,806 $ 3,557 $ 760 $ 1,371 $ 1,256 $ 239 $ 9,988 Provision (credit) for loan losses (256 ) (66 ) 333 74 139 (37 ) 19 206 Recoveries of loans charged-off 15 2 - - 6 - 5 28 Loans charged-off - - - - (77 ) - (10 ) (87 ) Balance, June 30, 2016 $ 758 $ 1,742 $ 3,890 $ 834 $ 1,439 $ 1,219 $ 253 $ 10,135 Three Months Ended June 30, 2015 Construction Real Estate 1-4 Family Residential Real Estate Commercial Real Estate Agricultural Real Estate Commercial Agricultural Consumer and Other Total Balance, March 31, 2015 $ 536 $ 1,752 $ 3,238 $ 769 $ 1,137 $ 1,297 $ 197 $ 8,926 Provision for loan losses 272 64 352 43 126 41 24 922 Recoveries of loans charged-off 15 16 - - - - 5 36 Loans charged-off - (6 ) - - - - (6 ) (12 ) Balance, June 30, 2015 $ 823 $ 1,826 $ 3,590 $ 812 $ 1,263 $ 1,338 $ 220 $ 9,872 Six Months Ended June 30, 2015 Construction Real Estate 1-4 Family Residential Real Estate Commercial Real Estate Agricultural Real Estate Commercial Agricultural Consumer and Other Total Balance, December 31, 2014 $ 495 $ 1,648 $ 3,214 $ 737 $ 1,247 $ 1,312 $ 186 $ 8,839 Provision for loan losses 308 164 376 75 15 27 34 999 Recoveries of loans charged-off 20 20 - - 1 1 6 48 Loans charged-off - (6 ) - - - (2 ) (6 ) (14 ) Balance, June 30, 2015 $ 823 $ 1,826 $ 3,590 $ 812 $ 1,263 $ 1,338 $ 220 $ 9,872 |
Allowance for Loan Losses Disaggregated on Basis of Impairment Analysis Method [Table Text Block] | 2016 1-4 Family Construction Residential Commercial Agricultural Consumer Real Estate Real Estate Real Estate Real Estate Commercial Agricultural and Other Total Individually evaluated for impairment $ - $ 143 $ - $ - $ 219 $ - $ 2 $ 364 Collectively evaluated for impairment 758 1,599 3,890 834 1,220 1,219 251 9,771 Balance June 30, 2016 $ 758 $ 1,742 $ 3,890 $ 834 $ 1,439 $ 1,219 $ 253 $ 10,135 2015 1-4 Family Construction Residential Commercial Agricultural Consumer Real Estate Real Estate Real Estate Real Estate Commercial Agricultural and Other Total Individually evaluated for impairment $ - $ 273 $ 2 $ - $ 164 $ - $ - $ 439 Collectively evaluated for impairment 999 1,533 3,555 760 1,207 1,256 239 9,549 Balance December 31, 2015 $ 999 $ 1,806 $ 3,557 $ 760 $ 1,371 $ 1,256 $ 239 $ 9,988 |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | 2016 1-4 Family Construction Residential Commercial Agricultural Consumer Real Estate Real Estate Real Estate Real Estate Commercial Agricultural and Other Total Individually evaluated for impairment $ - $ 1,165 $ 468 $ - $ 733 $ 11 $ 92 $ 2,469 Collectively evaluated for impairment 53,757 136,064 291,165 67,857 77,142 72,762 21,970 720,717 Balance June 30, 2016 $ 53,757 $ 137,229 $ 291,633 $ 67,857 $ 77,875 $ 72,773 $ 22,062 $ 723,186 2015 1-4 Family Construction Residential Commercial Agricultural Consumer Real Estate Real Estate Real Estate Real Estate Commercial Agricultural and Other Total Individually evaluated for impairment $ - $ 1,050 $ 558 $ - $ 197 $ 11 $ 2 $ 1,818 Collectively evaluated for impairment 66,268 126,026 251,331 62,530 102,318 79,522 21,597 709,592 Balance December 31, 2015 $ 66,268 $ 127,076 $ 251,889 $ 62,530 $ 102,515 $ 79,533 $ 21,599 $ 711,410 |
Impaired Financing Receivables [Table Text Block] | 2016 2015 Recorded Investment Unpaid Principal Balance Related Allowance Recorded Investment Unpaid Principal Balance Related Allowance With no specific reserve recorded: Real estate - construction $ - $ - $ - $ - $ 31 $ - Real estate - 1 to 4 family residential 533 555 - 296 304 - Real estate - commercial 468 1,065 - 456 1,030 - Real estate - agricultural - - - - - - Commercial 9 16 - 11 17 - Agricultural 11 13 - 11 13 - Consumer and other 90 91 - 2 2 - Total loans with no specific reserve: 1,111 1,740 - 776 1,397 - With an allowance recorded: Real estate - construction - - - - - - Real estate - 1 to 4 family residential 632 776 143 754 891 273 Real estate - commercial - - - 102 111 2 Real estate - agricultural - - - - - - Commercial 724 735 219 186 262 164 Agricultural - - - - - - Consumer and other 2 2 2 - - - Total loans with specific reserve: 1,358 1,513 364 1,042 1,264 439 Total Real estate - construction - - - - 31 - Real estate - 1 to 4 family residential 1,165 1,331 143 1,050 1,195 273 Real estate - commercial 468 1,065 - 558 1,141 2 Real estate - agricultural - - - - - - Commercial 733 751 219 197 279 164 Agricultural 11 13 - 11 13 - Consumer and other 92 93 2 2 2 - $ 2,469 $ 3,253 $ 364 $ 1,818 $ 2,661 $ 439 |
Average Investment in Impaired Loans and Interest Income Recognized [Table Text Block] | Three Months Ended June 30, 2016 2015 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized With no specific reserve recorded: Real estate - construction $ - $ 31 $ 145 $ 77 Real estate - 1 to 4 family residential 513 - 160 - Real estate - commercial 487 22 568 - Real estate - agricultural - - - - Commercial 10 - 314 - Agricultural 11 - 11 - Consumer and other 88 - 4 1 Total loans with no specific reserve: 1,109 53 1,202 78 With an allowance recorded: Real estate - construction - - - - Real estate - 1 to 4 family residential 640 - 766 - Real estate - commercial - - 154 - Real estate - agricultural - - - - Commercial 729 - 76 - Agricultural - - - - Consumer and other 1 - - - Total loans with specific reserve: 1,370 - 996 - Total Real estate - construction - 31 145 77 Real estate - 1 to 4 family residential 1,153 - 926 - Real estate - commercial 487 22 722 - Real estate - agricultural - - - - Commercial 739 - 390 - Agricultural 11 - 11 - Consumer and other 89 - 4 1 $ 2,479 $ 53 $ 2,198 $ 78 Six Months Ended June 30, 2016 2015 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized With no specific reserve recorded: Real estate - construction $ - $ 31 $ 162 $ 77 Real estate - 1 to 4 family residential 441 1 115 - Real estate - commercial 476 22 603 - Real estate - agricultural - - - - Commercial 10 - 361 3 Agricultural 11 - 14 - Consumer and other 59 - 6 2 Total loans with no specific reserve: 997 54 1,261 82 With an allowance recorded: Real estate - construction - - - - Real estate - 1 to 4 family residential 678 5 773 - Real estate - commercial 34 - 155 - Real estate - agricultural - - - - Commercial 548 - 78 - Agricultural - - - - Consumer and other 1 - - - Total loans with specific reserve: 1,261 5 1,006 - Total Real estate - construction - 31 162 77 Real estate - 1 to 4 family residential 1,119 6 888 - Real estate - commercial 510 22 758 - Real estate - agricultural - - - - Commercial 558 - 439 3 Agricultural 11 - 14 - Consumer and other 60 - 6 2 $ 2,258 $ 59 $ 2,267 $ 82 |
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | Three Months Ended June 30, 2016 2015 Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Real estate - construction - $ - $ - - $ - $ - Real estate - 1 to 4 family residential - - - - - - Real estate - commercial - - - - - - Real estate - agricultural - - - - - - Commercial 3 702 705 - - - Agricultural - - - - - - Consumer and other - - - - - - 3 $ 702 $ 705 - $ - $ - Six Months Ended June 30, 2016 2015 Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Real estate - construction - $ - $ - - $ - $ - Real estate - 1 to 4 family residential - - - - - - Real estate - commercial - - - - - - Real estate - agricultural - - - - - - Commercial 3 702 705 - - - Agricultural - - - - - - Consumer and other 3 70 70 - - - 6 $ 772 $ 775 - $ - $ - |
Past Due Financing Receivables [Table Text Block] | 2016 90 Days 90 Days 30-89 or Greater Total or Greater Past Due Past Due Past Due Current Total Accruing Real estate - construction $ 459 $ 85 $ 544 $ 53,213 $ 53,757 $ 85 Real estate - 1 to 4 family residential 1,253 233 1,486 135,743 137,229 - Real estate - commercial 1,151 - 1,151 290,482 291,633 - Real estate - agricultural - - - 67,857 67,857 - Commercial 627 - 627 77,248 77,875 - Agricultural 256 - 256 72,517 72,773 - Consumer and other 142 20 162 21,900 22,062 - $ 3,888 $ 338 $ 4,226 $ 718,960 $ 723,186 $ 85 2015 90 Days 90 Days 30-89 or Greater Total or Greater Past Due Past Due Past Due Current Total Accruing Real estate - construction $ - $ - $ - $ 66,268 $ 66,268 $ - Real estate - 1 to 4 family residential 1,311 307 1,618 125,458 127,076 75 Real estate - commercial 1,356 - 1,356 250,533 251,889 - Real estate - agricultural - - - 62,530 62,530 - Commercial 266 204 470 102,045 102,515 - Agricultural - - - 79,533 79,533 - Consumer and other 79 - 79 21,520 21,599 - $ 3,012 $ 511 $ 3,523 $ 707,887 $ 711,410 $ 75 |
Financing Receivable Credit Quality Indicators [Table Text Block] | 2016 Construction Commercial Agricultural Real Estate Real Estate Real Estate Commercial Agricultural Total Pass $ 50,356 $ 265,581 $ 53,714 $ 59,706 $ 53,122 $ 482,479 Watch 2,481 19,164 13,412 15,439 18,555 69,051 Special Mention - 761 - 184 75 1,020 Substandard 920 5,659 731 1,813 1,010 10,133 Substandard-Impaired - 468 - 733 11 1,212 $ 53,757 $ 291,633 $ 67,857 $ 77,875 $ 72,773 $ 563,895 2015 Construction Commercial Agricultural Real Estate Real Estate Real Estate Commercial Agricultural Total Pass $ 60,700 $ 227,425 $ 55,503 $ 91,096 $ 71,457 $ 506,181 Watch 4,487 17,523 6,865 8,329 7,156 44,360 Special Mention - 388 - 224 81 693 Substandard 1,081 5,995 162 2,669 828 10,735 Substandard-Impaired - 558 - 197 11 766 $ 66,268 $ 251,889 $ 62,530 $ 102,515 $ 79,533 $ 562,735 |
Credit Risk Profile Based on Payment Activity on Disaggregated Basis [Table Text Block] | 2016 1-4 Family Residential Consumer Real Estate and Other Total Performing $ 136,037 $ 22,015 $ 158,052 Non-performing 1,192 47 1,239 $ 137,229 $ 22,062 $ 159,291 2015 1-4 Family Residential Consumer Real Estate and Other Total Performing $ 125,951 $ 21,597 $ 147,548 Non-performing 1,125 2 1,127 $ 127,076 $ 21,599 $ 148,675 |
Note 8 - Other Real Estate Ow26
Note 8 - Other Real Estate Owned (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Notes Tables | |
Other Real Estate, Roll Forward [Table Text Block] | 2016 2015 Construction and land development $ 739 $ 739 1 to 4 family residential real estate 315 511 $ 1,054 $ 1,250 |
Note 10 - Core Deposit Intang27
Note 10 - Core Deposit Intangible Asset (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Notes Tables | |
Finite-lived Intangible Assets Amortization Expense [Table Text Block] | 2016 2015 Gross Amount Accumulated Amortization Gross Amount Accumulated Amortization Core deposit intangible asset $ 2,518 $ 1,396 $ 2,518 $ 1,209 |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Beginning core deposit intangible, net $ 1,214 $ 1,617 $ 1,309 $ 1,730 Amortization (92 ) (110 ) (187 ) (223 ) Ending core deposit intangible, net $ 1,122 $ 1,507 $ 1,122 $ 1,507 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | 2016 $ 166 2017 298 2018 251 2019 128 2020 71 2021 71 After 137 $ 1,122 |
Note 11 - Secured Borrowings (T
Note 11 - Secured Borrowings (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Notes Tables | |
Schedule of Financial Instruments Owned and Pledged as Collateral [Table Text Block] | 2016 2015 Remaining Contractual Maturity of the Agreements Overnight Greater than Total Overnight Greater than Total 90 days 90 days Securities sold under agreements to repurchase: U.S. government treasuries $ 1,512 $ - $ 1,512 $ 1,467 $ - $ 1,467 U.S. government agencies 47,893 - 47,893 46,755 - 46,755 U.S. government mortgage-backed securities 35,820 - 35,820 41,657 - 41,657 Total $ 85,225 $ - $ 85,225 $ 89,879 $ - $ 89,879 Term repurchase agreements (Other borrowings): U.S. government agencies $ - $ 15,625 $ 15,625 $ - $ 12,503 $ 12,503 U.S. government mortgage-backed securities - 419 419 - 676 676 Total $ - $ 16,044 $ 16,044 $ - $ 13,179 $ 13,179 Total pledged collateral $ 85,225 $ 16,044 $ 101,269 $ 89,879 $ 13,179 $ 103,058 |
Note 12 - Regulatory Matters (T
Note 12 - Regulatory Matters (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Notes Tables | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | Actual For Capital Adequacy Purposes To Be Well Capitalized Under Prompt Corrective Action Provisions Amount Ratio Amount Ratio Amount Ratio As of June 30, 2016: Total capital (to risk-weighted assets): Consolidated $ 165,424 17.4 % $ 75,948 8.0 % N/A N/A Boone Bank & Trust 14,839 16.7 7,111 8.0 $ 8,889 10.0 % First National Bank 76,135 15.4 39,443 8.0 49,304 10.0 Reliance State Bank 25,191 14.5 13,929 8.0 17,411 10.0 State Bank & Trust 20,031 17.5 9,144 8.0 11,429 10.0 United Bank & Trust 14,845 19.9 5,958 8.0 7,447 10.0 Tier 1 capital (to risk-weighted assets): Consolidated $ 154,748 16.3 % $ 56,961 6.0 % N/A N/A Boone Bank & Trust 13,910 15.6 5,334 6.0 $ 7,111 8.0 % First National Bank 71,046 14.4 29,582 6.0 39,443 8.0 Reliance State Bank 23,244 13.4 10,447 6.0 13,929 8.0 State Bank & Trust 18,598 16.3 6,858 6.0 9,144 8.0 United Bank & Trust 14,080 18.9 4,468 6.0 5,958 8.0 Tier 1 capital (to average-weighted assets): Consolidated $ 154,748 11.7 % $ 52,730 4.0 % N/A N/A Boone Bank & Trust 13,910 10.1 5,508 4.0 $ 6,885 5.0 % First National Bank 71,046 10.0 28,360 4.0 35,450 5.0 Reliance State Bank 23,244 10.9 8,497 4.0 10,622 5.0 State Bank & Trust 18,598 12.3 6,060 4.0 7,576 5.0 United Bank & Trust 14,080 12.5 4,502 4.0 5,627 5.0 Common equity tier 1 capital (to risk-weighted assets): Consolidated $ 154,748 16.3 % $ 42,721 4.5 % N/A N/A Boone Bank & Trust 13,910 15.6 4,000 4.5 $ 5,778 6.5 % First National Bank 71,046 14.4 22,187 4.5 32,048 6.5 Reliance State Bank 23,244 13.4 7,835 4.5 11,317 6.5 State Bank & Trust 18,598 16.3 5,143 4.5 7,429 6.5 United Bank & Trust 14,080 18.9 3,351 4.5 4,841 6.5 To Be Well Capitalized Under For Capital Prompt Corrective Actual Adequacy Purposes Action Provisions Amount Ratio Amount Ratio Amount Ratio As of December 31, 2015: Total capital (to risk-weighted assets): Consolidated $ 157,926 16.6 % $ 76,179 8.0 % N/A N/A Boone Bank & Trust 14,525 15.5 7,477 8.0 $ 9,346 10.0 % First National Bank 74,210 15.3 38,859 8.0 48,574 10.0 Reliance State Bank 24,287 13.8 14,101 8.0 17,626 10.0 State Bank & Trust 19,658 16.2 9,729 8.0 12,161 10.0 United Bank & Trust 14,621 20.6 5,693 8.0 7,116 10.0 Tier 1 capital (to risk-weighted assets): Consolidated $ 147,430 15.5 % $ 57,134 6.0 % N/A N/A Boone Bank & Trust 13,569 14.5 5,608 6.0 $ 7,477 8.0 % First National Bank 69,157 14.2 29,144 6.0 38,859 8.0 Reliance State Bank 22,491 12.8 10,575 6.0 14,101 8.0 State Bank & Trust 18,135 14.9 7,297 6.0 9,729 8.0 United Bank & Trust 13,858 19.5 4,269 6.0 5,693 8.0 Tier 1 capital (to average-weighted assets): Consolidated $ 147,430 11.3 % $ 52,657 4.0 % N/A N/A Boone Bank & Trust 13,569 9.8 5,557 4.0 $ 6,946 5.0 % First National Bank 69,157 9.9 27,970 4.0 34,963 5.0 Reliance State Bank 22,491 10.7 8,380 4.0 10,476 5.0 State Bank & Trust 18,135 11.5 6,332 4.0 7,915 5.0 United Bank & Trust 13,858 12.5 4,452 4.0 5,565 5.0 Common equity tier 1 capital (to risk-weighted assets): Consolidated $ 147,430 15.5 % $ 42,851 4.5 % N/A N/A Boone Bank & Trust 13,569 14.5 4,206 4.5 $ 6,075 6.5 % First National Bank 69,157 14.2 21,858 4.5 31,573 6.5 Reliance State Bank 22,491 12.8 7,932 4.5 11,457 6.5 State Bank & Trust 18,135 14.9 5,473 4.5 7,905 6.5 United Bank & Trust 13,858 19.5 3,202 4.5 4,625 6.5 |
Note 1 - Significant Accounti30
Note 1 - Significant Accounting Policies (Details Textual) | 6 Months Ended |
Jun. 30, 2016USD ($) | |
Goodwill, Impairment Loss | $ 0 |
Note 2 - Dividends (Details Tex
Note 2 - Dividends (Details Textual) - $ / shares | May 11, 2016 | Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 |
Dividends Payable, Date Declared | May 11, 2016 | ||||
Dividends Payable, Date to be Paid | Aug. 15, 2016 | ||||
Dividends Payable, Date of Record | Aug. 1, 2016 | ||||
Cash dividends declared, per share (in dollars per share) | $ 0.21 | $ 0.21 | $ 0.20 | $ 0.42 | $ 0.40 |
Note 3 - Earnings Per Share (De
Note 3 - Earnings Per Share (Details Textual) - shares | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Weighted Average Number of Shares Outstanding, Basic and Diluted | 9,310,913 | 9,310,913 | 9,310,913 | 9,310,913 |
Weighted Average Number Diluted Shares Outstanding Adjustment | 0 | 0 | 0 | 0 |
Note 5 - Fair Value Measureme33
Note 5 - Fair Value Measurements (Details Textual) - USD ($) | Jun. 30, 2016 | Dec. 31, 2015 |
Real Estate Owned, Valuation Allowance | $ 675,000 | $ 681,000 |
Note 5 - Assets Measured at Fai
Note 5 - Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($) | Jun. 30, 2016 | Dec. 31, 2015 |
Fair Value, Measurements, Recurring [Member] | US Treasury Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available for sale securities | $ 1,512,000 | $ 1,467,000 |
Fair Value, Measurements, Recurring [Member] | US Treasury Securities [Member] | ||
Available for sale securities | 1,512,000 | 1,467,000 |
Fair Value, Measurements, Recurring [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available for sale securities | 110,124,000 | 106,445,000 |
Fair Value, Measurements, Recurring [Member] | US Government Agencies Debt Securities [Member] | ||
Available for sale securities | 110,124,000 | 106,445,000 |
Fair Value, Measurements, Recurring [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available for sale securities | 91,498,000 | 98,079,000 |
Fair Value, Measurements, Recurring [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Available for sale securities | 91,498,000 | 98,079,000 |
Fair Value, Measurements, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available for sale securities | 268,046,000 | 277,597,000 |
Fair Value, Measurements, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Available for sale securities | 268,046,000 | 277,597,000 |
Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available for sale securities | 54,158,000 | 50,889,000 |
Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member] | ||
Available for sale securities | 54,158,000 | 50,889,000 |
Fair Value, Measurements, Recurring [Member] | Equity Securities, Other [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available for sale securities | 3,463,000 | 3,156,000 |
Fair Value, Measurements, Recurring [Member] | Equity Securities, Other [Member] | ||
Available for sale securities | 3,463,000 | 3,156,000 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available for sale securities | 1,512,000 | 1,467,000 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available for sale securities | 527,289,000 | 536,166,000 |
Fair Value, Measurements, Recurring [Member] | ||
Available for sale securities | 528,801,000 | 537,633,000 |
US Treasury Securities [Member] | ||
Available for sale securities | 1,512,000 | 1,467,000 |
US Government Agencies Debt Securities [Member] | ||
Available for sale securities | 110,124,000 | 106,445,000 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Available for sale securities | 91,498,000 | 98,078,000 |
US States and Political Subdivisions Debt Securities [Member] | ||
Available for sale securities | 268,046,000 | 277,597,000 |
Corporate Debt Securities [Member] | ||
Available for sale securities | 54,158,000 | 50,890,000 |
Equity Securities, Other [Member] | ||
Available for sale securities | 3,463,000 | 3,156,000 |
Available for sale securities | $ 528,801,262 | $ 537,632,990 |
Note 5 - Assets Measured at F35
Note 5 - Assets Measured at Fair Value on a Nonrecurring Basis (Details) - Fair Value, Measurements, Nonrecurring [Member] - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Fair Value, Inputs, Level 3 [Member] | ||
Loans receivable | $ 994 | $ 603 |
Other real estate owned | 1,054 | 1,250 |
Estimated Fair Value | 2,048 | 1,853 |
Loans receivable | 994 | 603 |
Other real estate owned | 1,054 | 1,250 |
Estimated Fair Value | $ 2,048 | $ 1,853 |
Note 5 - Fair Value Quantitativ
Note 5 - Fair Value Quantitative Information (Details) - Fair Value, Inputs, Level 3 [Member] - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2016 | Dec. 31, 2015 | |
Impaired Loan [Member] | Evaluation of Collateral [Member] | ||
Estimated Fair Value | $ 994 | $ 603 |
Other Real Estate Owned [Member] | Appraisal Valuation [Member] | Minimum [Member] | ||
Unobservable Inputs, Rate | 3.00% | 6.00% |
Other Real Estate Owned [Member] | Appraisal Valuation [Member] | Maximum [Member] | ||
Unobservable Inputs, Rate | 10.00% | 10.00% |
Other Real Estate Owned [Member] | Appraisal Valuation [Member] | Weighted Average [Member] | ||
Unobservable Inputs, Rate | 6.00% | 8.00% |
Other Real Estate Owned [Member] | Appraisal Valuation [Member] | ||
Estimated Fair Value | $ 1,054 | $ 1,250 |
Note 5 - Estimated Fair Values
Note 5 - Estimated Fair Values of Financial Instruments (Details) - USD ($) | Jun. 30, 2016 | Dec. 31, 2015 |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash and due from banks | $ 20,300,000 | $ 24,006,000 |
Interest bearing deposits | 31,235,000 | 26,993,000 |
Accrued income receivable | 7,385,000 | 7,566,000 |
Securities sold under agreements to repurchase | 41,946,000 | 54,290,000 |
Federal funds purchased | 959,000 | |
Accrued interest payable | 404,000 | 413,000 |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Loans receivable | 712,941,000 | 701,328,000 |
Loans held for sale | 1,646,000 | 539,000 |
Deposits | 1,065,364,000 | 1,074,193,000 |
FHLB advances | 29,800,000 | 18,542,000 |
Other borrowings | 13,000,000 | 13,000,000 |
Reported Value Measurement [Member] | ||
Available for sale securities | 528,801,000 | 537,633,000 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash and due from banks | 20,300,000 | 24,006,000 |
Interest bearing deposits | 31,235,000 | 26,993,000 |
Accrued income receivable | 7,385,000 | 7,566,000 |
Securities sold under agreements to repurchase | 41,946,000 | 54,290,000 |
Federal funds purchased | 959,000 | |
Accrued interest payable | 404,000 | 413,000 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Loans receivable | 712,117,000 | 702,438,000 |
Loans held for sale | 1,646,000 | 539,000 |
Deposits | 1,066,803,000 | 1,075,289,000 |
FHLB advances | 30,203,000 | 19,017,000 |
Other borrowings | 13,653,000 | 13,807,000 |
Estimate of Fair Value Measurement [Member] | ||
Available for sale securities | 528,801,000 | 537,633,000 |
Available for sale securities | 528,801,262 | 537,632,990 |
Accrued income receivable | $ 7,384,529 | $ 7,565,791 |
Note 6 - Debt and Equity Secu38
Note 6 - Debt and Equity Securities (Details Textual) | 6 Months Ended |
Jun. 30, 2016USD ($) | |
Available-for-sale Securities, Gross Unrealized Loss | $ 374,000 |
Note 6 - Securities Available-f
Note 6 - Securities Available-for-sale (Details) - USD ($) | Jun. 30, 2016 | Dec. 31, 2015 |
US Treasury Securities [Member] | ||
Amortized cost | $ 1,451,000 | $ 1,444,000 |
Gross unrealized gains | 61,000 | 23,000 |
Estimated fair value | 1,512,000 | 1,467,000 |
US Government Agencies Debt Securities [Member] | ||
Amortized cost | 106,870,000 | 105,948,000 |
Gross unrealized gains | 3,304,000 | 797,000 |
Estimated fair value | 110,124,000 | 106,445,000 |
Gross unrealized losses | (50,000) | (300,000) |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Amortized cost | 88,626,000 | 96,373,000 |
Gross unrealized gains | 2,880,000 | 1,828,000 |
Estimated fair value | 91,498,000 | 98,078,000 |
Gross unrealized losses | (8,000) | (123,000) |
US States and Political Subdivisions Debt Securities [Member] | ||
Amortized cost | 262,024,000 | 273,771,000 |
Gross unrealized gains | 6,262,000 | 4,359,000 |
Estimated fair value | 268,046,000 | 277,597,000 |
Gross unrealized losses | (240,000) | (533,000) |
Corporate Debt Securities [Member] | ||
Amortized cost | 53,156,000 | 51,414,000 |
Gross unrealized gains | 1,078,000 | 227,000 |
Estimated fair value | 54,158,000 | 50,890,000 |
Gross unrealized losses | (76,000) | (751,000) |
Equity Securities, Other [Member] | ||
Amortized cost | 3,463,000 | 3,156,000 |
Gross unrealized gains | ||
Estimated fair value | 3,463,000 | 3,156,000 |
Amortized cost | 515,590,000 | 532,106,000 |
Gross unrealized gains | 13,585,000 | 7,234,000 |
Estimated fair value | 528,801,262 | 537,632,990 |
Gross unrealized losses | $ (374,000) | $ (1,707,000) |
Note 6 - Proceeds, Gains and Lo
Note 6 - Proceeds, Gains and Losses from Securities Available-for-sale (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Proceeds from sales of securities available-for-sale | $ 521 | $ 14,863 | $ 12,886 | $ 15,380 |
Gross realized gains on securities available-for-sale | 29 | 492 | 237 | 497 |
Gross realized losses on securities available-for-sale | (6) | |||
Tax provision applicable to net realized gains on securities available-for-sale | $ 10 | $ 183 | $ 81 | $ 185 |
Note 6 - Securities Available41
Note 6 - Securities Available-for-sale Continuous Unrealized Loss Position (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
US Government Agencies Debt Securities [Member] | ||
Less than 12 months, estimated fair value | $ 4,158 | $ 30,245 |
Less than 12 months, unrealized losses | (50) | (253) |
Total estimated fair value | 4,158 | 33,366 |
Total unrealized losses | (50) | (300) |
12 months or more, estimated fair value | 3,121 | |
12 months or more, unrealized losses | (47) | |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Less than 12 months, estimated fair value | 1,954 | 22,842 |
Less than 12 months, unrealized losses | (8) | (123) |
Total estimated fair value | 1,954 | 22,842 |
Total unrealized losses | (8) | (123) |
12 months or more, estimated fair value | ||
12 months or more, unrealized losses | ||
US States and Political Subdivisions Debt Securities [Member] | ||
Less than 12 months, estimated fair value | 10,482 | 38,202 |
Less than 12 months, unrealized losses | (233) | (414) |
Total estimated fair value | 13,761 | 49,298 |
Total unrealized losses | (240) | (533) |
12 months or more, estimated fair value | 3,279 | 11,096 |
12 months or more, unrealized losses | (7) | (119) |
Corporate Debt Securities [Member] | ||
Less than 12 months, estimated fair value | 22,091 | |
Less than 12 months, unrealized losses | (249) | |
Total estimated fair value | 5,404 | 36,705 |
Total unrealized losses | (76) | (751) |
12 months or more, estimated fair value | 5,404 | 14,614 |
12 months or more, unrealized losses | (76) | (502) |
Less than 12 months, estimated fair value | 16,594 | 113,380 |
Less than 12 months, unrealized losses | (291) | (1,039) |
Total estimated fair value | 25,277 | 142,211 |
Total unrealized losses | (374) | (1,707) |
12 months or more, estimated fair value | 8,683 | 28,831 |
12 months or more, unrealized losses | $ (83) | $ (668) |
Note 7 - Loans Receivable and42
Note 7 - Loans Receivable and Credit Disclosures (Details Textual) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||
Jun. 30, 2016USD ($) | Jun. 30, 2015USD ($) | Jun. 30, 2016USD ($) | Jun. 30, 2015USD ($) | Jun. 30, 2016USD ($) | Jun. 30, 2015 | Dec. 31, 2015USD ($) | |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 0 | 0 | |||||
Financing Receivables, Impaired, Troubled Debt Restructuring, Write-down | $ 0 | $ 0 | |||||
Loans and Leases Receivable, Impaired, Interest Lost on Nonaccrual Loans | $ 39,000 | $ 43,000 | 79,000 | $ 87,000 | |||
Financing Receivable, Modifications, Recorded Investment | $ 1,420,000 | $ 1,420,000 | $ 1,420,000 | $ 780,000 | |||
Troubled Debt Restructuring, Loan Payment Default Period | 60 days |
Note 7 - Activity in Allowance
Note 7 - Activity in Allowance for Loan Losses (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Construction Real Estate [Member] | ||||
Balance | $ 787,000 | $ 536,000 | $ 999,000 | $ 495,000 |
Provision (credit) for loan losses | (44,000) | 272,000 | (256,000) | 308,000 |
Recoveries of loans charged-off | 15,000 | 15,000 | 15,000 | 20,000 |
Loans charged-off | ||||
Balance | 758,000 | 823,000 | 758,000 | 823,000 |
Family Residential Real Estate 1-4 [Member] | ||||
Balance | 1,757,000 | 1,752,000 | 1,806,000 | 1,648,000 |
Provision (credit) for loan losses | (15,000) | 64,000 | (66,000) | 164,000 |
Recoveries of loans charged-off | 16,000 | 2,000 | 20,000 | |
Loans charged-off | (6,000) | (6,000) | ||
Balance | 1,742,000 | 1,826,000 | 1,742,000 | 1,826,000 |
Commercial Real Estate Portfolio Segment [Member] | ||||
Balance | 3,763,000 | 3,238,000 | 3,557,000 | 3,214,000 |
Provision (credit) for loan losses | 127,000 | 352,000 | 333,000 | 376,000 |
Recoveries of loans charged-off | ||||
Loans charged-off | ||||
Balance | 3,890,000 | 3,590,000 | 3,890,000 | 3,590,000 |
Agriculture Real Estate [Member] | ||||
Balance | 817,000 | 769,000 | 760,000 | 737,000 |
Provision (credit) for loan losses | 17,000 | 43,000 | 74,000 | 75,000 |
Recoveries of loans charged-off | ||||
Loans charged-off | ||||
Balance | 834,000 | 812,000 | 834,000 | 812,000 |
Commercial Portfolio Segment [Member] | ||||
Balance | 1,400,000 | 1,137,000 | 1,371,000 | 1,247,000 |
Provision (credit) for loan losses | 34,000 | 126,000 | 139,000 | 15,000 |
Recoveries of loans charged-off | 5,000 | 6,000 | 1,000 | |
Loans charged-off | (77,000) | |||
Balance | 1,439,000 | 1,263,000 | 1,439,000 | 1,263,000 |
Agriculture [Member] | ||||
Balance | 1,322,000 | 1,297,000 | 1,256,000 | 1,312,000 |
Provision (credit) for loan losses | (103,000) | 41,000 | (37,000) | 27,000 |
Recoveries of loans charged-off | 1,000 | |||
Loans charged-off | (2,000) | |||
Balance | 1,219,000 | 1,338,000 | 1,219,000 | 1,338,000 |
Consumer and Other [Member] | ||||
Balance | 256,000 | 197,000 | 239,000 | 186,000 |
Provision (credit) for loan losses | (2,000) | 24,000 | 19,000 | 34,000 |
Recoveries of loans charged-off | 4,000 | 5,000 | 5,000 | 6,000 |
Loans charged-off | (5,000) | (6,000) | (10,000) | (6,000) |
Balance | 253,000 | 220,000 | 253,000 | 220,000 |
Balance | 10,102,000 | 8,926,000 | 9,988,000 | 8,839,000 |
Provision (credit) for loan losses | 14,070 | 921,513 | 206,084 | 998,813 |
Recoveries of loans charged-off | 24,000 | 36,000 | 28,000 | 48,000 |
Loans charged-off | (5,000) | (12,000) | (87,000) | (14,000) |
Balance | $ 10,135,000 | $ 9,872,000 | $ 10,135,000 | $ 9,872,000 |
Note 7 - Allowance for Loan Los
Note 7 - Allowance for Loan Losses Impairment Analysis (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Construction Real Estate [Member] | ||
Individually evaluated for impairment | ||
Collectively evaluated for impairment | 758 | 999 |
Balance | 758 | 999 |
Family Residential Real Estate 1-4 [Member] | ||
Individually evaluated for impairment | 143 | 273 |
Collectively evaluated for impairment | 1,599 | 1,533 |
Balance | 1,742 | 1,806 |
Commercial Real Estate Portfolio Segment [Member] | ||
Individually evaluated for impairment | 2 | |
Collectively evaluated for impairment | 3,890 | 3,555 |
Balance | 3,890 | 3,557 |
Agriculture Real Estate [Member] | ||
Individually evaluated for impairment | ||
Collectively evaluated for impairment | 834 | 760 |
Balance | 834 | 760 |
Commercial Portfolio Segment [Member] | ||
Individually evaluated for impairment | 219 | 164 |
Collectively evaluated for impairment | 1,220 | 1,207 |
Balance | 1,439 | 1,371 |
Agriculture [Member] | ||
Individually evaluated for impairment | ||
Collectively evaluated for impairment | 1,219 | 1,256 |
Balance | 1,219 | 1,256 |
Consumer and Other [Member] | ||
Individually evaluated for impairment | 2 | |
Collectively evaluated for impairment | 251 | 239 |
Balance | 253 | 239 |
Individually evaluated for impairment | 364 | 439 |
Collectively evaluated for impairment | 9,771 | 9,549 |
Balance | $ 10,135 | $ 9,988 |
Note 7 - Loans Receivable Impai
Note 7 - Loans Receivable Impairment Analysis (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Construction Real Estate [Member] | ||
Individually evaluated for impairment | ||
Collectively evaluated for impairment | 53,757 | 66,268 |
Balance | 53,757 | 66,268 |
Family Residential Real Estate 1-4 [Member] | ||
Individually evaluated for impairment | 1,165 | 1,050 |
Collectively evaluated for impairment | 136,064 | 126,026 |
Balance | 137,229 | 127,076 |
Commercial Real Estate Portfolio Segment [Member] | ||
Individually evaluated for impairment | 468 | 558 |
Collectively evaluated for impairment | 291,165 | 251,331 |
Balance | 291,633 | 251,889 |
Agriculture Real Estate [Member] | ||
Individually evaluated for impairment | ||
Collectively evaluated for impairment | 67,857 | 62,530 |
Balance | 67,857 | 62,530 |
Commercial Portfolio Segment [Member] | ||
Individually evaluated for impairment | 733 | 197 |
Collectively evaluated for impairment | 77,142 | 102,318 |
Balance | 77,875 | 102,515 |
Agriculture [Member] | ||
Individually evaluated for impairment | 11 | 11 |
Collectively evaluated for impairment | 72,762 | 79,522 |
Balance | 72,773 | 79,533 |
Consumer and Other [Member] | ||
Individually evaluated for impairment | 92 | 2 |
Collectively evaluated for impairment | 21,970 | 21,597 |
Balance | 22,062 | 21,599 |
Individually evaluated for impairment | 2,469 | 1,818 |
Collectively evaluated for impairment | 720,717 | 709,592 |
Balance | $ 723,186 | $ 711,410 |
Note 7 - Impaired Loans (Detail
Note 7 - Impaired Loans (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Construction Real Estate [Member] | ||
Impaired financing receivable with no related allowance | ||
Impaired financing receivable with no related allowance, unpaid principal balance | 31 | |
Impaired financing receivable with related allowance | ||
Impaired financing receivable with related allowance, unpaid principal balance | ||
Impaired financing receivable, related allowance | ||
Impaired financing receivable, recorded investment | ||
Impaired financing receivable, unpaid principal balance | 31 | |
Family Residential Real Estate 1-4 [Member] | ||
Impaired financing receivable with no related allowance | 533 | 296 |
Impaired financing receivable with no related allowance, unpaid principal balance | 555 | 304 |
Impaired financing receivable with related allowance | 632 | 754 |
Impaired financing receivable with related allowance, unpaid principal balance | 776 | 891 |
Impaired financing receivable, related allowance | 143 | 273 |
Impaired financing receivable, recorded investment | 1,165 | 1,050 |
Impaired financing receivable, unpaid principal balance | 1,331 | 1,195 |
Commercial Real Estate Portfolio Segment [Member] | ||
Impaired financing receivable with no related allowance | 468 | 456 |
Impaired financing receivable with no related allowance, unpaid principal balance | 1,065 | 1,030 |
Impaired financing receivable with related allowance | 102 | |
Impaired financing receivable with related allowance, unpaid principal balance | 111 | |
Impaired financing receivable, related allowance | 2 | |
Impaired financing receivable, recorded investment | 468 | 558 |
Impaired financing receivable, unpaid principal balance | 1,065 | 1,141 |
Agriculture Real Estate [Member] | ||
Impaired financing receivable with no related allowance | ||
Impaired financing receivable with no related allowance, unpaid principal balance | ||
Impaired financing receivable with related allowance | ||
Impaired financing receivable with related allowance, unpaid principal balance | ||
Impaired financing receivable, related allowance | ||
Impaired financing receivable, recorded investment | ||
Impaired financing receivable, unpaid principal balance | ||
Commercial Portfolio Segment [Member] | ||
Impaired financing receivable with no related allowance | 9 | 11 |
Impaired financing receivable with no related allowance, unpaid principal balance | 16 | 17 |
Impaired financing receivable with related allowance | 724 | 186 |
Impaired financing receivable with related allowance, unpaid principal balance | 735 | 262 |
Impaired financing receivable, related allowance | 219 | 164 |
Impaired financing receivable, recorded investment | 733 | 197 |
Impaired financing receivable, unpaid principal balance | 751 | 279 |
Agriculture [Member] | ||
Impaired financing receivable with no related allowance | 11 | 11 |
Impaired financing receivable with no related allowance, unpaid principal balance | 13 | 13 |
Impaired financing receivable with related allowance | ||
Impaired financing receivable with related allowance, unpaid principal balance | ||
Impaired financing receivable, related allowance | ||
Impaired financing receivable, recorded investment | 11 | 11 |
Impaired financing receivable, unpaid principal balance | 13 | 13 |
Consumer and Other [Member] | ||
Impaired financing receivable with no related allowance | 90 | 2 |
Impaired financing receivable with no related allowance, unpaid principal balance | 91 | 2 |
Impaired financing receivable with related allowance | 2 | |
Impaired financing receivable with related allowance, unpaid principal balance | 2 | |
Impaired financing receivable, related allowance | 2 | |
Impaired financing receivable, recorded investment | 92 | 2 |
Impaired financing receivable, unpaid principal balance | 93 | 2 |
Impaired financing receivable with no related allowance | 1,111 | 776 |
Impaired financing receivable with no related allowance, unpaid principal balance | 1,740 | 1,397 |
Impaired financing receivable with related allowance | 1,358 | 1,042 |
Impaired financing receivable with related allowance, unpaid principal balance | 1,513 | 1,264 |
Impaired financing receivable, related allowance | 364 | 439 |
Impaired financing receivable, recorded investment | 2,469 | 1,818 |
Impaired financing receivable, unpaid principal balance | $ 3,253 | $ 2,661 |
Note 7 - Average Recorded Inves
Note 7 - Average Recorded Investment and Interest Income Recognized on Impaired Loans (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Construction Real Estate [Member] | ||||
Impaired financing receivable, with no related allowance, interest income, accrual method | $ 31 | $ 77 | $ 31 | $ 77 |
Impaired financing receivable, with no related allowance, average recorded investment | 145 | 162 | ||
Impaired financing receivable, interest income, accrual method | 31 | 77 | 31 | 77 |
Impaired financing receivable, average recorded investment | 145 | 162 | ||
Family Residential Real Estate 1-4 [Member] | ||||
Impaired financing receivable, with no related allowance, interest income, accrual method | 1 | |||
Impaired financing receivable, with no related allowance, average recorded investment | 513 | 160 | 441 | 115 |
Impaired financing receivable, with related allowance, average recorded investment | 640 | 766 | 678 | 773 |
Impaired financing receivable, interest income, accrual method | 6 | |||
Impaired financing receivable, average recorded investment | 1,153 | 926 | 1,119 | 888 |
Impaired financing receivable, with related allowance, interest income, accrual method | 5 | |||
Commercial Real Estate Portfolio Segment [Member] | ||||
Impaired financing receivable, with no related allowance, interest income, accrual method | 22 | 22 | ||
Impaired financing receivable, with no related allowance, average recorded investment | 487 | 568 | 476 | 603 |
Impaired financing receivable, with related allowance, average recorded investment | 154 | 34 | 155 | |
Impaired financing receivable, interest income, accrual method | 22 | 22 | ||
Impaired financing receivable, average recorded investment | 487 | 722 | 510 | 758 |
Commercial Portfolio Segment [Member] | ||||
Impaired financing receivable, with no related allowance, interest income, accrual method | 3 | |||
Impaired financing receivable, with no related allowance, average recorded investment | 10 | 314 | 10 | 361 |
Impaired financing receivable, with related allowance, average recorded investment | 729 | 76 | 548 | 78 |
Impaired financing receivable, interest income, accrual method | 3 | |||
Impaired financing receivable, average recorded investment | 739 | 390 | 558 | 439 |
Agriculture [Member] | ||||
Impaired financing receivable, with no related allowance, average recorded investment | 11 | 11 | 11 | 14 |
Impaired financing receivable, average recorded investment | 11 | 11 | 11 | 14 |
Consumer and Other [Member] | ||||
Impaired financing receivable, with no related allowance, interest income, accrual method | 1 | 2 | ||
Impaired financing receivable, with no related allowance, average recorded investment | 88 | 4 | 59 | 6 |
Impaired financing receivable, with related allowance, average recorded investment | 1 | 1 | ||
Impaired financing receivable, interest income, accrual method | 1 | 2 | ||
Impaired financing receivable, average recorded investment | 89 | 4 | 60 | 6 |
Impaired financing receivable, with no related allowance, interest income, accrual method | 53 | 78 | 54 | 82 |
Impaired financing receivable, with no related allowance, average recorded investment | 1,109 | 1,202 | 997 | 1,261 |
Impaired financing receivable, with related allowance, average recorded investment | 1,370 | 996 | 1,261 | 1,006 |
Impaired financing receivable, interest income, accrual method | 53 | 78 | 59 | 82 |
Impaired financing receivable, average recorded investment | $ 2,479 | $ 2,198 | 2,258 | $ 2,267 |
Impaired financing receivable, with related allowance, interest income, accrual method | $ 5 |
Note 7 - Troubled Debt Restruct
Note 7 - Troubled Debt Restructurings (Details) $ in Thousands | 3 Months Ended | 6 Months Ended |
Jun. 30, 2016USD ($) | Jun. 30, 2016USD ($) | |
Commercial Portfolio Segment [Member] | ||
Financing receivable modifications, number of contracts | 3 | 3 |
Financing receivable modifications, pre-modification outstanding, recorded investment | $ 702 | $ 702 |
Financing receivable modifications, post modification outstanding, recorded investment | $ 705 | $ 705 |
Consumer and Other [Member] | ||
Financing receivable modifications, number of contracts | 3 | |
Financing receivable modifications, pre-modification outstanding, recorded investment | $ 70 | |
Financing receivable modifications, post modification outstanding, recorded investment | $ 70 | |
Financing receivable modifications, number of contracts | 3 | 6 |
Financing receivable modifications, pre-modification outstanding, recorded investment | $ 702 | $ 772 |
Financing receivable modifications, post modification outstanding, recorded investment | $ 705 | $ 775 |
Note 7 - Past Due Loans (Detail
Note 7 - Past Due Loans (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Financing Receivables 30 to 89 Days Past Due [Member] | Construction Real Estate [Member] | ||
Financing receivable, recorded investment, past due | $ 459 | |
Financing Receivables 30 to 89 Days Past Due [Member] | Family Residential Real Estate 1-4 [Member] | ||
Financing receivable, recorded investment, past due | 1,253 | $ 1,311 |
Financing Receivables 30 to 89 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Financing receivable, recorded investment, past due | 1,151 | 1,356 |
Financing Receivables 30 to 89 Days Past Due [Member] | Commercial Portfolio Segment [Member] | ||
Financing receivable, recorded investment, past due | 627 | 266 |
Financing Receivables 30 to 89 Days Past Due [Member] | Agriculture [Member] | ||
Financing receivable, recorded investment, past due | 256 | |
Financing Receivables 30 to 89 Days Past Due [Member] | Consumer and Other [Member] | ||
Financing receivable, recorded investment, past due | 142 | 79 |
Financing Receivables 30 to 89 Days Past Due [Member] | ||
Financing receivable, recorded investment, past due | 3,888 | 3,012 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Construction Real Estate [Member] | ||
Financing receivable, recorded investment, past due | 85 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Family Residential Real Estate 1-4 [Member] | ||
Financing receivable, recorded investment, past due | 233 | 307 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial Portfolio Segment [Member] | ||
Financing receivable, recorded investment, past due | 204 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Consumer and Other [Member] | ||
Financing receivable, recorded investment, past due | 20 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing receivable, recorded investment, past due | 338 | 511 |
Construction Real Estate [Member] | ||
Financing receivable, recorded investment, past due | 544 | |
Financing receivable, recorded investment, current | 53,213 | 66,268 |
Balance | 53,757 | 66,268 |
Financing receivable, recorded investment, 90 days past due and still accruing | 85 | |
Family Residential Real Estate 1-4 [Member] | ||
Financing receivable, recorded investment, past due | 1,486 | 1,618 |
Financing receivable, recorded investment, current | 135,743 | 125,458 |
Balance | 137,229 | 127,076 |
Financing receivable, recorded investment, 90 days past due and still accruing | 75 | |
Commercial Real Estate Portfolio Segment [Member] | ||
Financing receivable, recorded investment, past due | 1,151 | 1,356 |
Financing receivable, recorded investment, current | 290,482 | 250,533 |
Balance | 291,633 | 251,889 |
Agriculture Real Estate [Member] | ||
Financing receivable, recorded investment, current | 67,857 | 62,530 |
Balance | 67,857 | 62,530 |
Commercial Portfolio Segment [Member] | ||
Financing receivable, recorded investment, past due | 627 | 470 |
Financing receivable, recorded investment, current | 77,248 | 102,045 |
Balance | 77,875 | 102,515 |
Agriculture [Member] | ||
Financing receivable, recorded investment, past due | 256 | |
Financing receivable, recorded investment, current | 72,517 | 79,533 |
Balance | 72,773 | 79,533 |
Consumer and Other [Member] | ||
Financing receivable, recorded investment, past due | 162 | 79 |
Financing receivable, recorded investment, current | 21,900 | 21,520 |
Balance | 22,062 | 21,599 |
Financing receivable, recorded investment, past due | 4,226 | 3,523 |
Financing receivable, recorded investment, current | 718,960 | 707,887 |
Balance | 723,186 | 711,410 |
Financing receivable, recorded investment, 90 days past due and still accruing | $ 85 | $ 75 |
Note 7 - Credit Risk Profile by
Note 7 - Credit Risk Profile by Internally Assigned Grade (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Construction Real Estate [Member] | Pass [Member] | ||
Loan and lease receivable other than consumer and residential | $ 50,356 | $ 60,700 |
Construction Real Estate [Member] | Watch [Member] | ||
Loan and lease receivable other than consumer and residential | 2,481 | 4,487 |
Construction Real Estate [Member] | Substandard [Member] | ||
Loan and lease receivable other than consumer and residential | 920 | 1,081 |
Construction Real Estate [Member] | ||
Loan and lease receivable other than consumer and residential | 53,757 | 66,268 |
Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | ||
Loan and lease receivable other than consumer and residential | 265,581 | 227,425 |
Commercial Real Estate Portfolio Segment [Member] | Watch [Member] | ||
Loan and lease receivable other than consumer and residential | 19,164 | 17,523 |
Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member] | ||
Loan and lease receivable other than consumer and residential | 761 | 388 |
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | ||
Loan and lease receivable other than consumer and residential | 5,659 | 5,995 |
Commercial Real Estate Portfolio Segment [Member] | Substandard Impaired [Member] | ||
Loan and lease receivable other than consumer and residential | 468 | 558 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loan and lease receivable other than consumer and residential | 291,633 | 251,889 |
Agriculture Real Estate [Member] | Pass [Member] | ||
Loan and lease receivable other than consumer and residential | 53,714 | 55,503 |
Agriculture Real Estate [Member] | Watch [Member] | ||
Loan and lease receivable other than consumer and residential | 13,412 | 6,865 |
Agriculture Real Estate [Member] | Substandard [Member] | ||
Loan and lease receivable other than consumer and residential | 731 | 162 |
Agriculture Real Estate [Member] | ||
Loan and lease receivable other than consumer and residential | 67,857 | 62,530 |
Commercial Portfolio Segment [Member] | Pass [Member] | ||
Loan and lease receivable other than consumer and residential | 59,706 | 91,096 |
Commercial Portfolio Segment [Member] | Watch [Member] | ||
Loan and lease receivable other than consumer and residential | 15,439 | 8,329 |
Commercial Portfolio Segment [Member] | Special Mention [Member] | ||
Loan and lease receivable other than consumer and residential | 184 | 224 |
Commercial Portfolio Segment [Member] | Substandard [Member] | ||
Loan and lease receivable other than consumer and residential | 1,813 | 2,669 |
Commercial Portfolio Segment [Member] | Substandard Impaired [Member] | ||
Loan and lease receivable other than consumer and residential | 733 | 197 |
Commercial Portfolio Segment [Member] | ||
Loan and lease receivable other than consumer and residential | 77,875 | 102,515 |
Agriculture [Member] | Pass [Member] | ||
Loan and lease receivable other than consumer and residential | 53,122 | 71,457 |
Agriculture [Member] | Watch [Member] | ||
Loan and lease receivable other than consumer and residential | 18,555 | 7,156 |
Agriculture [Member] | Special Mention [Member] | ||
Loan and lease receivable other than consumer and residential | 75 | 81 |
Agriculture [Member] | Substandard [Member] | ||
Loan and lease receivable other than consumer and residential | 1,010 | 828 |
Agriculture [Member] | Substandard Impaired [Member] | ||
Loan and lease receivable other than consumer and residential | 11 | 11 |
Agriculture [Member] | ||
Loan and lease receivable other than consumer and residential | 72,773 | 79,533 |
Pass [Member] | ||
Loan and lease receivable other than consumer and residential | 482,479 | 506,181 |
Watch [Member] | ||
Loan and lease receivable other than consumer and residential | 69,051 | 44,360 |
Special Mention [Member] | ||
Loan and lease receivable other than consumer and residential | 1,020 | 693 |
Substandard [Member] | ||
Loan and lease receivable other than consumer and residential | 10,133 | 10,735 |
Substandard Impaired [Member] | ||
Loan and lease receivable other than consumer and residential | 1,212 | 766 |
Loan and lease receivable other than consumer and residential | $ 563,895 | $ 562,735 |
Note 7 - Credit Risk Profile Ba
Note 7 - Credit Risk Profile Based on Payment Activity (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Family Residential Real Estate 1-4 [Member] | Performing Financial Instruments [Member] | ||
Loan and lease receivable, consumer and residential | $ 136,037 | $ 125,951 |
Family Residential Real Estate 1-4 [Member] | Nonperforming Financial Instruments [Member] | ||
Loan and lease receivable, consumer and residential | 1,192 | 1,125 |
Family Residential Real Estate 1-4 [Member] | ||
Loan and lease receivable, consumer and residential | 137,229 | 127,076 |
Consumer and Other [Member] | Performing Financial Instruments [Member] | ||
Loan and lease receivable, consumer and residential | 22,015 | 21,597 |
Consumer and Other [Member] | Nonperforming Financial Instruments [Member] | ||
Loan and lease receivable, consumer and residential | 47 | 2 |
Consumer and Other [Member] | ||
Loan and lease receivable, consumer and residential | 22,062 | 21,599 |
Performing Financial Instruments [Member] | ||
Loan and lease receivable, consumer and residential | 158,052 | 147,548 |
Nonperforming Financial Instruments [Member] | ||
Loan and lease receivable, consumer and residential | 1,239 | 1,127 |
Loan and lease receivable, consumer and residential | $ 159,291 | $ 148,675 |
Note 8 - Components of Other Re
Note 8 - Components of Other Real Estate Owned (Details) - USD ($) | Jun. 30, 2016 | Dec. 31, 2015 |
Construction and Land Development [Member] | ||
Other real estate | $ 739,000 | $ 739,000 |
One to Four Family Residential Real Estate [Member] | ||
Other real estate | 315,000 | 511,000 |
Other real estate | $ 1,053,923 | $ 1,249,915 |
Note 9 - Goodwill (Details Text
Note 9 - Goodwill (Details Textual) | 6 Months Ended |
Jun. 30, 2016 | |
Finite Tax Lived Intangible Asset, Useful Life | 15 years |
Note 10 - Core Deposit Intang54
Note 10 - Core Deposit Intangible Asset (Details Textual) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2016 | Dec. 31, 2015 | |
Core Deposits [Member] | ||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 3 years | 3 years |
Note 10 - Core Deposit Intang55
Note 10 - Core Deposit Intangible Assets (Details) - Core Deposits [Member] - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Core deposit intangible asset | $ 2,518 | $ 2,518 |
Core deposit intangible asset | $ 1,396 | $ 1,209 |
Note 10 - Core Deposit Intang56
Note 10 - Core Deposit Intangible Assets Activity (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Core Deposits [Member] | ||||
Beginning core deposit intangible, net | $ 1,214,000 | $ 1,617,000 | $ 1,309,000 | $ 1,730,000 |
Amortization | (92,000) | (110,000) | (187,000) | (223,000) |
Ending core deposit intangible, net | 1,122,000 | 1,507,000 | 1,122,000 | 1,507,000 |
Beginning core deposit intangible, net | 1,308,731 | |||
Amortization | (91,466) | $ (109,375) | (186,714) | $ (222,998) |
Ending core deposit intangible, net | $ 1,122,017 | $ 1,122,017 |
Note 10 - Estimated Remaining A
Note 10 - Estimated Remaining Amortization Expense on Core Deposits (Details) - USD ($) | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 |
Core Deposits [Member] | ||||||
2,016 | $ 166,000 | |||||
2,017 | 298,000 | |||||
2,018 | 251,000 | |||||
2,019 | 128,000 | |||||
2,020 | 71,000 | |||||
2,021 | 71,000 | |||||
After | 137,000 | |||||
1,122,000 | $ 1,214,000 | $ 1,309,000 | $ 1,507,000 | $ 1,617,000 | $ 1,730,000 | |
$ 1,122,017 | $ 1,308,731 |
Note 11 - Pledged Collateral at
Note 11 - Pledged Collateral at Estimated Fair Value (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Maturity Overnight [Member] | Collateral Related to Securities Sold Under Agreements to Repurchase [Member] | US Treasury and Government [Member] | ||
Securities sold under agreements to repurchase | $ 1,512 | $ 1,467 |
Maturity Overnight [Member] | Collateral Related to Securities Sold Under Agreements to Repurchase [Member] | US Government Agencies Debt Securities [Member] | ||
Securities sold under agreements to repurchase | 47,893 | 46,755 |
Maturity Overnight [Member] | Collateral Related to Securities Sold Under Agreements to Repurchase [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Securities sold under agreements to repurchase | 35,820 | 41,657 |
Maturity Overnight [Member] | Collateral Related to Securities Sold Under Agreements to Repurchase [Member] | ||
Securities sold under agreements to repurchase | 85,225 | 89,879 |
Maturity Overnight [Member] | ||
Securities sold under agreements to repurchase | 85,225 | 89,879 |
Maturity Greater than 90 Days [Member] | Collateral Related to Term Repurchase Agreements [Member] | US Government Agencies Debt Securities [Member] | ||
Securities sold under agreements to repurchase | 15,625 | 12,503 |
Maturity Greater than 90 Days [Member] | Collateral Related to Term Repurchase Agreements [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Securities sold under agreements to repurchase | 419 | 676 |
Maturity Greater than 90 Days [Member] | Collateral Related to Term Repurchase Agreements [Member] | ||
Securities sold under agreements to repurchase | 16,044 | 13,179 |
Maturity Greater than 90 Days [Member] | ||
Securities sold under agreements to repurchase | 16,044 | 13,179 |
Collateral Related to Securities Sold Under Agreements to Repurchase [Member] | US Treasury and Government [Member] | ||
Securities sold under agreements to repurchase | 1,512 | 1,467 |
Collateral Related to Securities Sold Under Agreements to Repurchase [Member] | US Government Agencies Debt Securities [Member] | ||
Securities sold under agreements to repurchase | 47,893 | 46,755 |
Collateral Related to Securities Sold Under Agreements to Repurchase [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Securities sold under agreements to repurchase | 35,820 | 41,657 |
Collateral Related to Securities Sold Under Agreements to Repurchase [Member] | ||
Securities sold under agreements to repurchase | 85,225 | 89,879 |
Collateral Related to Term Repurchase Agreements [Member] | US Government Agencies Debt Securities [Member] | ||
Securities sold under agreements to repurchase | 15,625 | 12,503 |
Collateral Related to Term Repurchase Agreements [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Securities sold under agreements to repurchase | 419 | 676 |
Collateral Related to Term Repurchase Agreements [Member] | ||
Securities sold under agreements to repurchase | 16,044 | 13,179 |
Securities sold under agreements to repurchase | $ 101,269 | $ 103,058 |
Note 12 - Regulatory Matters (D
Note 12 - Regulatory Matters (Details Textual) | Jun. 30, 2016 |
Effective January 2019 [Member] | |
Common Equity Tier One Capital Conservation Buffer | 2.50% |
Note 12 - Actual Capital Amount
Note 12 - Actual Capital Amounts and Ratios (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Boone Bank and Trust [Member] | ||
Capital | $ 14,839 | $ 14,525 |
Capital to risk weighted assets | 16.70% | 15.50% |
Capital required for capital adequacy | $ 7,111 | $ 7,477 |
Capital required for capital adequacy to risk weighted assets | 8.00% | 8.00% |
Capital required to be well capitalized | $ 8,889 | $ 9,346 |
Capital required to be well capitalized to risk weighted assets | 10.00% | 10.00% |
Tier one risk based capital | $ 13,910 | $ 13,569 |
Tier one risk based capital to risk weighted assets | 15.60% | 14.50% |
Tier one risk based capital required for capital adequacy | $ 5,334 | $ 5,608 |
Tier one risk based capital required for capital adequacy to risk weighted assets | 6.00% | 6.00% |
Tier one risk based capital required to be well capitalized | $ 7,111 | $ 7,477 |
Tier one risk based capital required to be well capitalized to risk weighted assets | 8.00% | 8.00% |
Tier one leverage capital | $ 13,910 | $ 13,569 |
Tier one leverage capital to average assets | 10.10% | 9.80% |
Tier one leverage capital required for capital adequacy | $ 5,508 | $ 5,557 |
Tier one leverage capital required for capital adequacy to risk weighted assets | 4.00% | 4.00% |
Tier one leverage capital required to be well capitalized | $ 6,885 | $ 6,946 |
Tier one leverage capital required to be well capitalized to average assets | 5.00% | 5.00% |
Common equity tier one capital | $ 13,910 | $ 13,569 |
Common equity tier one risk based capital to risk weighted assets | 15.60% | 14.50% |
Common equity tier one capital required for capital adequacy | $ 4,000 | $ 4,206 |
Common equity tier one risk based capital required for capital adequacy to risk weighted assets | 4.50% | 4.50% |
Common equity tier one capital required to be well capitalized | $ 5,778 | $ 6,075 |
Common equity tier one capital required to be well capitalized to risk weighted assets | 6.50% | 6.50% |
First National Bank [Member] | Also Conducts Business Out of 3 Full Service Offices in Des Moines Metro Area [Member] | ||
Capital | $ 76,135 | $ 74,210 |
Capital to risk weighted assets | 15.40% | 15.30% |
Capital required for capital adequacy | $ 39,443 | $ 38,859 |
Capital required for capital adequacy to risk weighted assets | 8.00% | 8.00% |
Capital required to be well capitalized | $ 49,304 | $ 48,574 |
Capital required to be well capitalized to risk weighted assets | 10.00% | 10.00% |
Tier one risk based capital | $ 71,046 | $ 69,157 |
Tier one risk based capital to risk weighted assets | 14.40% | 14.20% |
Tier one risk based capital required for capital adequacy | $ 29,582 | $ 29,144 |
Tier one risk based capital required for capital adequacy to risk weighted assets | 6.00% | 6.00% |
Tier one risk based capital required to be well capitalized | $ 39,443 | $ 38,859 |
Tier one risk based capital required to be well capitalized to risk weighted assets | 8.00% | 8.00% |
Tier one leverage capital | $ 71,046 | $ 69,157 |
Tier one leverage capital to average assets | 10.00% | 9.90% |
Tier one leverage capital required for capital adequacy | $ 28,360 | $ 27,970 |
Tier one leverage capital required for capital adequacy to risk weighted assets | 4.00% | 4.00% |
Tier one leverage capital required to be well capitalized | $ 35,450 | $ 34,963 |
Tier one leverage capital required to be well capitalized to average assets | 5.00% | 5.00% |
Common equity tier one capital | $ 71,046 | $ 69,157 |
Common equity tier one risk based capital to risk weighted assets | 14.40% | 14.20% |
Common equity tier one capital required for capital adequacy | $ 22,187 | $ 21,858 |
Common equity tier one risk based capital required for capital adequacy to risk weighted assets | 4.50% | 4.50% |
Common equity tier one capital required to be well capitalized | $ 32,048 | $ 31,573 |
Common equity tier one capital required to be well capitalized to risk weighted assets | 6.50% | 6.50% |
Reliance State Bank [Member] | Conducts Business Out of Offices at Story City, Garner, and Kleme, Iowa [Member] | ||
Capital | $ 25,191 | $ 24,287 |
Capital to risk weighted assets | 14.50% | 13.80% |
Capital required for capital adequacy | $ 13,929 | $ 14,101 |
Capital required for capital adequacy to risk weighted assets | 8.00% | 8.00% |
Capital required to be well capitalized | $ 17,411 | $ 17,626 |
Capital required to be well capitalized to risk weighted assets | 10.00% | 10.00% |
Tier one risk based capital | $ 23,244 | $ 22,491 |
Tier one risk based capital to risk weighted assets | 13.40% | 12.80% |
Tier one risk based capital required for capital adequacy | $ 10,447 | $ 10,575 |
Tier one risk based capital required for capital adequacy to risk weighted assets | 6.00% | 6.00% |
Tier one risk based capital required to be well capitalized | $ 13,929 | $ 14,101 |
Tier one risk based capital required to be well capitalized to risk weighted assets | 8.00% | 8.00% |
Tier one leverage capital | $ 23,244 | $ 22,491 |
Tier one leverage capital to average assets | 10.90% | 10.70% |
Tier one leverage capital required for capital adequacy | $ 8,497 | $ 8,380 |
Tier one leverage capital required for capital adequacy to risk weighted assets | 4.00% | 4.00% |
Tier one leverage capital required to be well capitalized | $ 10,622 | $ 10,476 |
Tier one leverage capital required to be well capitalized to average assets | 5.00% | 5.00% |
Common equity tier one capital | $ 23,244 | $ 22,491 |
Common equity tier one risk based capital to risk weighted assets | 13.40% | 12.80% |
Common equity tier one capital required for capital adequacy | $ 7,835 | $ 7,932 |
Common equity tier one risk based capital required for capital adequacy to risk weighted assets | 4.50% | 4.50% |
Common equity tier one capital required to be well capitalized | $ 11,317 | $ 11,457 |
Common equity tier one capital required to be well capitalized to risk weighted assets | 6.50% | 6.50% |
State Bank and Trust [Member] | ||
Capital | $ 20,031 | $ 19,658 |
Capital to risk weighted assets | 17.50% | 16.20% |
Capital required for capital adequacy | $ 9,144 | $ 9,729 |
Capital required for capital adequacy to risk weighted assets | 8.00% | 8.00% |
Capital required to be well capitalized | $ 11,429 | $ 12,161 |
Capital required to be well capitalized to risk weighted assets | 10.00% | 10.00% |
Tier one risk based capital | $ 18,598 | $ 18,135 |
Tier one risk based capital to risk weighted assets | 16.30% | 14.90% |
Tier one risk based capital required for capital adequacy | $ 6,858 | $ 7,297 |
Tier one risk based capital required for capital adequacy to risk weighted assets | 6.00% | 6.00% |
Tier one risk based capital required to be well capitalized | $ 9,144 | $ 9,729 |
Tier one risk based capital required to be well capitalized to risk weighted assets | 8.00% | 8.00% |
Tier one leverage capital | $ 18,598 | $ 18,135 |
Tier one leverage capital to average assets | 12.30% | 11.50% |
Tier one leverage capital required for capital adequacy | $ 6,060 | $ 6,332 |
Tier one leverage capital required for capital adequacy to risk weighted assets | 4.00% | 4.00% |
Tier one leverage capital required to be well capitalized | $ 7,576 | $ 7,915 |
Tier one leverage capital required to be well capitalized to average assets | 5.00% | 5.00% |
Common equity tier one capital | $ 18,598 | $ 18,135 |
Common equity tier one risk based capital to risk weighted assets | 16.30% | 14.90% |
Common equity tier one capital required for capital adequacy | $ 5,143 | $ 5,473 |
Common equity tier one risk based capital required for capital adequacy to risk weighted assets | 4.50% | 4.50% |
Common equity tier one capital required to be well capitalized | $ 7,429 | $ 7,905 |
Common equity tier one capital required to be well capitalized to risk weighted assets | 6.50% | 6.50% |
United Bank and Trust [Member] | ||
Capital | $ 14,845 | $ 14,621 |
Capital to risk weighted assets | 19.90% | 20.60% |
Capital required for capital adequacy | $ 5,958 | $ 5,693 |
Capital required for capital adequacy to risk weighted assets | 8.00% | 8.00% |
Capital required to be well capitalized | $ 7,447 | $ 7,116 |
Capital required to be well capitalized to risk weighted assets | 10.00% | 10.00% |
Tier one risk based capital | $ 14,080 | $ 13,858 |
Tier one risk based capital to risk weighted assets | 18.90% | 19.50% |
Tier one risk based capital required for capital adequacy | $ 4,468 | $ 4,269 |
Tier one risk based capital required for capital adequacy to risk weighted assets | 6.00% | 6.00% |
Tier one risk based capital required to be well capitalized | $ 5,958 | $ 5,693 |
Tier one risk based capital required to be well capitalized to risk weighted assets | 8.00% | 8.00% |
Tier one leverage capital | $ 14,080 | $ 13,858 |
Tier one leverage capital to average assets | 12.50% | 12.50% |
Tier one leverage capital required for capital adequacy | $ 4,502 | $ 4,452 |
Tier one leverage capital required for capital adequacy to risk weighted assets | 4.00% | 4.00% |
Tier one leverage capital required to be well capitalized | $ 5,627 | $ 5,565 |
Tier one leverage capital required to be well capitalized to average assets | 5.00% | 5.00% |
Common equity tier one capital | $ 14,080 | $ 13,858 |
Common equity tier one risk based capital to risk weighted assets | 18.90% | 19.50% |
Common equity tier one capital required for capital adequacy | $ 3,351 | $ 3,202 |
Common equity tier one risk based capital required for capital adequacy to risk weighted assets | 4.50% | 4.50% |
Common equity tier one capital required to be well capitalized | $ 4,841 | $ 4,625 |
Common equity tier one capital required to be well capitalized to risk weighted assets | 6.50% | 6.50% |
Capital | $ 165,424 | $ 157,926 |
Capital to risk weighted assets | 17.40% | 16.60% |
Capital required for capital adequacy | $ 75,948 | $ 76,179 |
Capital required for capital adequacy to risk weighted assets | 8.00% | 8.00% |
Tier one risk based capital | $ 154,748 | $ 147,430 |
Tier one risk based capital to risk weighted assets | 16.30% | 15.50% |
Tier one risk based capital required for capital adequacy | $ 56,961 | $ 57,134 |
Tier one risk based capital required for capital adequacy to risk weighted assets | 6.00% | 6.00% |
Tier one leverage capital | $ 154,748 | $ 147,430 |
Tier one leverage capital to average assets | 11.70% | 11.30% |
Tier one leverage capital required for capital adequacy | $ 52,730 | $ 52,657 |
Tier one leverage capital required for capital adequacy to risk weighted assets | 4.00% | 4.00% |
Common equity tier one capital | $ 154,748 | $ 147,430 |
Common equity tier one risk based capital to risk weighted assets | 16.30% | 15.50% |
Common equity tier one capital required for capital adequacy | $ 42,721 | $ 42,851 |
Common equity tier one risk based capital required for capital adequacy to risk weighted assets | 4.50% | 4.50% |