Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Feb. 28, 2018 | Jun. 30, 2017 | |
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 | ||
Entity Public Float | $ 280,293,001 | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2017 | ||
Document Fiscal Year Focus | 2,017 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
ASSETS | ||
Cash and due from banks | $ 26,397,550 | $ 29,478,068 |
Interest bearing deposits in financial institutions | 43,021,953 | 31,737,259 |
Securities available-for-sale | 498,342,864 | 516,079,506 |
Loans receivable, net | 771,549,655 | 752,181,730 |
Loans held for sale | 242,618 | |
Bank premises and equipment, net | 15,399,146 | 16,049,379 |
Accrued income receivable | 8,382,391 | 7,768,689 |
Other real estate owned | 385,509 | 545,757 |
Deferred income taxes | 2,542,533 | 3,485,689 |
Other intangible assets, net | 1,091,462 | 1,352,812 |
Goodwill | 6,732,216 | 6,732,216 |
Other assets | 1,214,371 | 799,306 |
Total assets | 1,375,059,650 | 1,366,453,029 |
Deposits | ||
Demand, noninterest bearing | 227,332,347 | 212,074,792 |
NOW accounts | 322,392,945 | 310,427,812 |
Savings and money market | 389,630,180 | 381,852,433 |
Time, $250,000 and over | 38,838,782 | 39,031,663 |
Other time | 156,196,433 | 166,022,165 |
Total deposits | 1,134,390,687 | 1,109,408,865 |
Securities sold under agreements to repurchase | 37,424,619 | 58,337,367 |
Federal Home Loan Bank (FHLB) advances | 13,500,000 | 14,500,000 |
Other borrowings | 13,000,000 | 13,000,000 |
Dividends payable | 2,048,401 | 1,955,292 |
Accrued expenses and other liabilities | 3,942,801 | 4,146,262 |
Total liabilities | 1,204,306,508 | 1,201,347,786 |
STOCKHOLDERS' EQUITY | ||
Common stock, $2 par value, authorized 18,000,000 shares; issued and outstanding 9,310,913 shares as of December 31, 2017 and 2016 | 18,621,826 | 18,621,826 |
Additional paid-in capital | 20,878,728 | 20,878,728 |
Retained earnings | 131,684,961 | 126,181,376 |
Accumulated other comprehensive (loss) | (432,373) | (576,687) |
Total stockholders' equity | 170,753,142 | 165,105,243 |
Total liabilities and stockholders' equity | $ 1,375,059,650 | $ 1,366,453,029 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - $ / shares | Dec. 31, 2017 | Dec. 31, 2016 |
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 - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Interest income: | |||
Loans, including fees | $ 34,048,310 | $ 32,358,028 | $ 30,780,496 |
Securities: | |||
Taxable | 6,219,030 | 5,853,146 | 6,179,492 |
Tax-exempt | 5,015,696 | 5,439,908 | 5,808,011 |
Interest bearing deposits and federal funds sold | 511,399 | 394,957 | 382,346 |
Total interest income | 45,794,435 | 44,046,039 | 43,150,345 |
Interest expense: | |||
Deposits | 4,439,305 | 3,073,658 | 3,019,273 |
Other borrowed funds | 1,141,774 | 1,061,623 | 1,165,866 |
Total interest expense | 5,581,079 | 4,135,281 | 4,185,139 |
Net interest income | 40,213,356 | 39,910,758 | 38,965,206 |
Provision for loan losses | 1,519,596 | 524,365 | 1,099,183 |
Net interest income after provision for loan losses | 38,693,760 | 39,386,393 | 37,866,023 |
Noninterest income: | |||
Wealth management income | 3,060,599 | 2,929,456 | 2,724,451 |
Service fees | 1,515,998 | 1,633,178 | 1,740,740 |
Securities gains, net | 505,139 | 423,601 | 888,179 |
Gain on sale of loans held for sale | 783,776 | 1,082,347 | 907,875 |
Merchant and card fees | 1,375,402 | 1,405,751 | 1,378,218 |
Other noninterest income | 751,853 | 613,201 | 627,730 |
Total noninterest income | 7,992,767 | 8,087,534 | 8,267,193 |
Noninterest expense: | |||
Salaries and employee benefits | 15,994,036 | 15,687,335 | 15,231,369 |
Data processing | 3,298,080 | 3,297,079 | 3,027,203 |
Occupancy expenses | 2,018,553 | 1,962,726 | 1,889,793 |
FDIC insurance assessments | 427,781 | 540,237 | 680,563 |
Professional fees | 1,231,778 | 1,178,924 | 1,274,298 |
Business development | 1,033,026 | 1,016,365 | 1,064,362 |
Other real estate owned (income) expense, net | (2,459) | (172,628) | 613,812 |
Amortization of intangible assets | 369,580 | 368,259 | 421,500 |
Other operating expenses, net | 1,034,162 | 1,056,348 | 1,109,121 |
Total noninterest expense | 25,404,537 | 24,934,645 | 25,312,021 |
Income before income taxes | 21,281,990 | 22,539,282 | 20,821,195 |
Provision for income taxes | 7,584,801 | 6,804,506 | 5,806,544 |
Net income | $ 13,697,189 | $ 15,734,776 | $ 15,014,651 |
Basic and diluted earnings per share (in dollars per share) | $ 1.47 | $ 1.69 | $ 1.61 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Net income | $ 13,697,189 | $ 15,734,776 | $ 15,014,651 |
Other comprehensive income (loss), before tax: | |||
Unrealized holding gains (losses) arising during the period | 734,209 | (6,018,340) | (683,696) |
Less: reclassification adjustment for gains realized in net income | 505,139 | 423,601 | 888,179 |
Other comprehensive income (loss) before tax | 229,070 | (6,441,941) | (1,571,875) |
Tax expense (benefit) related to other comprehensive income (loss) | 84,756 | (2,383,518) | (581,594) |
Other comprehensive income (loss), net of tax | 144,314 | (4,058,423) | (990,281) |
Comprehensive income | $ 13,841,503 | $ 11,676,353 | $ 14,024,370 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity - 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 | 15,014,651 | 15,014,651 | |||
Other comprehensive income (loss) | (990,281) | (990,281) | |||
Cash dividends declared | (7,448,731) | (7,448,731) | |||
Balance at Dec. 31, 2015 | 18,621,826 | 20,878,728 | 118,267,767 | 3,481,736 | 161,250,057 |
Net income | 15,734,776 | 15,734,776 | |||
Other comprehensive income (loss) | (4,058,423) | (4,058,423) | |||
Cash dividends declared | (7,821,167) | (7,821,167) | |||
Balance at Dec. 31, 2016 | 18,621,826 | 20,878,728 | 126,181,376 | (576,687) | 165,105,243 |
Net income | 13,697,189 | 13,697,189 | |||
Other comprehensive income (loss) | 144,314 | 144,314 | |||
Cash dividends declared | (8,193,604) | (8,193,604) | |||
Balance at Dec. 31, 2017 | $ 18,621,826 | $ 20,878,728 | $ 131,684,961 | $ (432,373) | $ 170,753,142 |
Consolidated Statements of Sto7
Consolidated Statements of Stockholders' Equity (Parentheticals) - $ / shares | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Retained Earnings [Member] | |||
Cash dividends declared, per share (in dollars per share) | $ 0.88 | $ 0.84 | $ 0.80 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
CASH FLOWS FROM OPERATING ACTIVITIES | |||
Net income | $ 13,697,189 | $ 15,734,776 | $ 15,014,651 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Provision for loan losses | 1,519,596 | 524,365 | 1,099,183 |
Provision (credit) for off-balance sheet commitments | (5,000) | 24,000 | 7,000 |
Amortization of securities available-for-sale, loans and deposits, net | 2,797,455 | 3,065,740 | 3,404,299 |
Amortization of intangible assets | 369,580 | 368,259 | 421,500 |
Depreciation | 1,133,559 | 1,209,144 | 1,147,120 |
Provision for deferred income taxes | 858,400 | 174,400 | 1,938,200 |
Securities gains, net | (505,139) | (423,601) | (888,179) |
Gain on sales of loans held for sale | (783,776) | (1,082,347) | (907,875) |
Proceeds from the sales of loans held for sale | 32,703,719 | 47,700,123 | 39,670,999 |
Originations of loans held for sale | (31,677,325) | (46,321,024) | (38,597,644) |
Impairment of other real estate owned | 28,039 | 614,687 | |
(Gain) on sale of other real estate owned, net | (14,648) | (218,687) | (100,409) |
Loss on sale and disposal of bank premises and equipment, net | 2,179 | 25,772 | 5,388 |
Change in assets and liabilities: | |||
(Increase) in accrued income receivable | (613,702) | (202,898) | (94,768) |
(Increase) decrease in other assets | (437,556) | 298,656 | 109,864 |
Increase (decrease) in accrued expenses and other liabilities | (198,461) | 512,599 | (221,667) |
Net cash provided by operating activities | 18,846,070 | 21,417,316 | 22,622,349 |
CASH FLOWS FROM INVESTING ACTIVITIES | |||
Purchase of securities available-for-sale | (64,197,470) | (78,120,246) | (100,805,716) |
Proceeds from sale of securities available-for-sale | 14,025,166 | 25,142,516 | 25,031,910 |
Proceeds from maturities and calls of securities available-for-sale | 65,725,649 | 65,294,571 | 75,946,662 |
Net decrease (increase) in interest bearing deposits in financial institutions | (11,284,694) | (4,744,168) | 4,476,291 |
Net (increase) in loans | (20,784,138) | (51,414,733) | (41,677,319) |
Net proceeds from the sale of other real estate owned | 191,564 | 1,052,178 | 4,875,464 |
Proceeds from the sale or bank premises and equipment | 55,141 | ||
Purchase of bank premises and equipment | (518,155) | (267,761) | (2,196,551) |
Other changes in other real estate owned | (26,612) | ||
Net cash (used in) investing activities | (16,895,167) | (43,469,983) | (34,375,871) |
CASH FLOWS FROM FINANCING ACTIVITIES | |||
Increase in deposits | 24,981,822 | 35,247,743 | 22,192,208 |
Increase (decrease) in securities sold under agreements to repurchase | (20,912,748) | 4,047,452 | 3,024,904 |
Proceeds from FHLB and other borrowings | 4,500,000 | ||
Payments on FHLB and other borrowings | (1,000,000) | (4,042,203) | (10,425,534) |
Dividends paid | (8,100,495) | (7,728,058) | (7,262,512) |
Net cash provided by (used in) financing activities | (5,031,421) | 27,524,934 | 12,029,066 |
Net increase (decrease) in cash and due from banks | (3,080,518) | 5,472,267 | 275,544 |
Beginning | 29,478,068 | 24,005,801 | 23,730,257 |
Ending | 26,397,550 | 29,478,068 | 24,005,801 |
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION | |||
Interest | 5,509,886 | 4,172,526 | 4,464,760 |
Income taxes | 6,886,832 | 5,822,394 | 4,291,621 |
SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING ACTIVITIES | |||
Transfer of loans to other real estate owned | 16,668 | 157,372 | 74,609 |
Other real real estate owned sale financed by a loan receivable | 1,897,449 | ||
Customer Lists [Member] | |||
CASH FLOWS FROM INVESTING ACTIVITIES | |||
Purchase of customer list | $ (108,230) | $ (412,340) |
Note 1 - Summary of Significant
Note 1 - Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | Note 1. s Description of business : Ames National Corporation and subsidiaries (the Company) operates in the commercial banking industry through its subsidiaries in Ames, Boone, Story City, Nevada and Marshalltown, Iowa. Loan and deposit customers are located primarily in Boone, Hancock, Polk, Marshall and Story Counties and adjacent counties in Iowa . Segment information : The Company uses the “management approach” for reporting information about segments in annual and interim financial statements. The “management approach” is based on the way the chief operating decision-maker organizes segments within a company for making operating decisions and assessing performance. Based on the “management approach” model, the Company has determined that its business is comprised of one . Consolidation : The consolidated financial statements include the accounts of Ames National Corporation (the Parent Company) and its wholly-owned subsidiaries, First National Bank, Ames, Iowa (FNB); State Bank & Trust Co., Nevada, Iowa (SBT); Boone Bank & Trust Co., Boone, Iowa (BBT); Reliance State Bank (RSB), Story City, Iowa; and United Bank & Trust NA, Marshalltown, Iowa (UBT) (collectively, the Banks). All significant intercompany transactions and balances have been eliminated in consolidation . Use of estimates : The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term relate to the determination of the allowance for loan losses, the assessment of goodwill impairment and the assessment of other-than-temporary impairment for certain financial instruments . Cash and due from banks : For purposes of reporting cash flows, cash and due from banks include cash on hand and amounts due from banks. The Company reports net cash flows for customer loan transactions, deposit transactions and short-term borrowings with maturities of 90 Securities available-for-sale : The Company classifies all securities as available-for-sale. Securities available-for-sale are those securities the Company may . Gains and losses on the sale of securities are determined using the specific identification method based on amortized cost and are reflected in results of operation at the time of sale. Interest and dividend income, adjusted by amortization of purchase premium or discount over the estimated life of the security using the level yield method, is included in income as earned . Declines in the fair value of securities available-for-sale below their cost that are deemed to be other-than-temporary are reflected in earnings as realized losses. In estimating other-than-temporary impairment losses, management considers ( 1 t to sell the investment securities and the more likely than not 2 3 . Loans : Loans are stated at the principal amount outstanding, net of deferred loan fees and the allowance for loan losses. Interest on loans is credited to income as earned based on the principal amount outstanding. The Banks’ policy is to discontinue the accrual of interest income on any loan 90 no . Allowance for loan losses : The allowance for loan losses is established through a provision for loan losses and maintained at a level deemed appropriate by management to provide for known and inherent risks in the loan portfolio. The allowance is based upon an ongoing review of past loan loss experience, current economic conditions, the underlying collateral value securing the loans and other adverse situations that may . The Company ’s allowance for possible loan losses consists of two The allowances established for probable losses on specific loans are based on a regular analysis and ev aluation of problem loans. Loans are classified based on an internal credit risk rating process that evaluates, among other things: (i) the obligor’s ability to repay; (ii) the underlying collateral, if any; and (iii) the economic environment and industry in which the borrower operates. 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 payments of principal or 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. Smaller balance homogeneous loans are evaluated for impairment in total. Such loans include residential first one four not 90 . The general component of the allowance for loan losses is based on historical loan loss experience, general economic conditions and other qualitative risk factors both internal and external to the Company. The general component is determined by evaluating, among other things: (i) actual charge offs; (ii) the experience, ability and effectiveness of the Company’s lending management and staff; (iii) the effectiveness of the Company’s loan policies, procedures and internal controls; (iv) changes in asset quality; (v) changes in loan portfolio volume; (vi) the composition and concentrations of credit; (vii) the impact of competition on loan structuring and pricing; (viii) the effectiveness of the internal audit loan review function; (ix) the impact of environmental risks on portfolio risks; and ( x one Loans held for sale : Loans held for sale are the loans the Banks have the intent to sell in the foreseeable future. They are carried at the lower of aggregate cost or fair value. Net unrealized losses, if any, are recognized through a valuation allowance by charges to income. Gains and losses on sales of loans are determined by the difference between the sale proceeds and the carrying value of the loans, recognized at settlement date and recorded as noninterest income . Bank p remises and equipment : Premises and equipment are stated at cost less accumulated depreciation. Depreciation expense is computed using straight-line and accelerated methods over the estimated useful lives of the respective assets. Depreciable lives range from 3 7 15 39 . Other real estate owned : Real estate properties acquired through or in lieu of foreclosure are initially recorded at the fair value less estimated selling cost at the date of foreclosure. Any write-downs based on the asset’s fair value at the date of acquisition are charged to the allowance for loan losses. Costs of significant property improvements are capitalized, whereas costs relating to holding property are expensed. The portion of interest costs relating to development of real estate is capitalized. Valuations are periodically performed by management and property held for sale is carried at the lower of the new cost basis or fair value less cost to sell and any subsequent write-downs are charged to operations. Impairment losses on property to be held and used are measured as the amount by which the carrying amount of a property exceeds its fair value less costs to sell. This evaluation is inherently subjective and requires estimates that are susceptible to significant revisions as more information becomes available. Goodwill and other intangible assets: Goodwill represents the excess of cost over fair value of net assets acquired. Goodwill resulting from acquisitions is not not two second . Significant judgment is applied when goodwill is assessed for impairment. This judgment includes developing cash flow projections, selecting approp riate discount rates, identifying relevant market comparables, incorporating general economic and market conditions and selecting an appropriate control premium. At December 31, 2017, not . The only other significant intangible asset is the core deposit intangible asset. The core deposit intangible asset is determined to have a definite life a nd is amortized over the estimated useful life. The core deposit intangible asset is a customer based relationship valuation attributed to the expectation of a lower net cost of these deposits versus alternative sources of funds. The core deposit intangible asset and other long-lived assets are reviewed for impairment whenever events occur or circumstances indicate that the carrying amount may not Wealth management department assets : Property held for customers in fiduciary or agency capacities are not not . Advertising costs: Advertising costs are expensed as incurred . Income taxes : Deferred income taxes are provided on temporary differences between financial statement and income tax reporting. Temporary differences are differences between the amounts of assets and liabilities reported for financial statement purposes and their tax bases. Deferred tax assets are recognized for temporary differences that will be deductible in future years’ tax returns and for operating loss and tax credit carry forwards. Deferred tax assets are reduced by a valuation allowance if it is deemed more likely than not not not 50 . The Company files a consolidated federal income tax return, with each entity computing its taxes on a separate company basis. For state tax purposes, the Banks file franchise tax returns, while the Parent Company files a corporate income tax return . Comprehensive income : Accounting principles generally require that recognized revenue, expenses, gains and losses be included in net income. Certain changes in assets and liabilities, such as unrealized gains and losses on securities available-for-sale, are reported as accumulated other comprehensive income, a separate component of the stockholders’ equity section of the consolidated balance sheet, and such items, along with net income, are components of the statement of comprehensive income. Gains and losses on securities available-for-sale are reclassified to net income as the gains or losses are realized upon sale of the securities. Other-than-temporary impairment charges are reclassified to net income at the time of the charge . Financial instruments with off-balance-sheet risk : The Company, in the normal course of business, makes commitments to make loans which are not 14 . Transfers of financial assets and participating interests : Transfers of an entire financial asset or a participating interest in an entire financial asset are accounted for as sales when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when ( 1 2 3 not . The transfer of a participating interest in an entire financial asset must also meet the definition of a participating interest. A participating interest in a financial asset has all of the following characteristics: ( 1 2 3 4 no Earnings per share: Basic earnings per share computations for the years ended December 31, 2017, 2016 2015, no . The following information was used in the computation of basic earnings per share (EPS) for the years ended December 31, 2017, 2016, 2015 . 201 7 201 6 201 5 Basic earning per share computation : Net incom e $ 13,697,189 $ 15,734,776 $ 15,014,651 Weighted average common shares outstandin g 9,310,913 9,310,913 9,310,913 Basic EPS $ 1.47 $ 1.69 $ 1.61 Reclassifications: Certain reclassifications have been made to the prior consolidated financial statements to conform to the current period presentation. These reclassifications had no New and Pending Accounting Pronouncements: In January 2016, No. 2016 01, 825 10 Recognition and Measurement of Financial Assets and Financial Liabilities. December 15, 2017, not In February 2016, No. 2016 02, Leases (Topic 842 12 December 15, 2018. not In June 2016, No. 2016 13, 326 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. In May 2014, 2014 09, 606 Summary and Amendments that Create Revenue from Contracts with Customers (Topic 606 340 40 605, December 15, 2017. January 1, 2018. not not not not . In January 2017, 20 17 04, 350 Simplifying the Test for Goodwill Impairment 2 December 15, 2019, January 1, 2017. not . In February 2018, 2018 02, 220 Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. 21 December 15, 2018, first 2018 not . |
Note 2 - Concentrations and Res
Note 2 - Concentrations and Restrictions on Cash and Due from Banks and Interest Bearing Deposits in Financial Institutions | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Concentrations and Restrictions on Cash and Due from Banks and Interest Bearing Deposits in Financial Institutions [Text Block] | Note 2. The Federal Reserve Bank requires member banks to maintain certain cash and due from bank reserves. The subsidiary banks’ reserve requirements totaled approximately $5,955,000 $5,707,000 December 31, 2017 2016, . At December 31, 2017, $46,016,000 t various financial institutions. Management does not no . |
Note 3 - Debt and Equity Securi
Note 3 - Debt and Equity Securities | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | Note 3. itie s The amortized cost of securities available-for-sale and their approximate fair values are summarized below (in thousands) Gros s Gros s Amortize d Unrealize d Unrealize d Estimate d Cos t Gain s Losse s Fair Valu e 2017 : U.S. government treasuries $ 6,413 $ 2 $ (48 ) $ 6,367 U.S. government agencie s 111,900 136 (773 ) 111,263 U.S. government mortgage-backed securitie s 81,685 422 (327 ) 81,780 State and political subdivision s 237,349 1,233 (1,169 ) 237,413 Corporate bond s 58,647 206 (389 ) 58,464 Equity securities, othe r 3,036 20 - 3,056 $ 499,030 $ 2,019 $ (2,706 ) $ 498,343 Gros s Gros s Amortize d Unrealize d Unrealize d Estimate d Cos t Gain s Losse s Fair Valu e 2016 : U.S. government treasurie s $ 4,396 $ 18 $ (46 ) $ 4,368 U.S. government agencie s 110,372 540 (703 ) 110,209 U.S. government mortgage-backed securitie s 82,279 1,018 (439 ) 82,858 St ate and political subdivisions 265,204 1,660 (2,416 ) 264,448 Corporate bond s 51,731 147 (694 ) 51,184 Equity securities, othe r 3,013 - - 3,013 $ 516,995 $ 3,383 $ (4,298 ) $ 516,080 The amortized cost and fair value of debt securities available-for-sale as of December 31, 2017, may to call or prepay obligations with or without call or prepayment penalties. (in thousands ) Amortize d Estimate d Cos t Fair Valu e Due in one year or les s $ 42,105 $ 42,174 Due after one year through five year s 279,659 279,705 Due after five years through ten year s 154,967 154,132 Due after ten year s 19,263 19,276 495,994 495,287 Equity securitie s 3,036 3,056 $ 499,030 $ 498,343 At December 31, 2017 2016, $171,129,000 $177,234,000, or permitted by law. Securities sold under agreements to repurchase are held by the Company’s safekeeping agent. The proceeds, gains, and losses from securities available-for-sale are summarized below (in thousands) 201 7 201 6 201 5 Proceeds from sales of securities available-for-sal e $ 14,025 $ 25,143 $ 25,032 Gross realized gains on securities available-for-sal e 540 430 911 Gross realized losses on securities available-for-sal e 35 6 23 Tax provision applicable to net realized gains on securities available-for-sale 187 157 331 No December 31, 2017, 2016 2015 . Gross unrealized losses and fair value aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position as of December 31, 2017 2016, (in thousands ) 2017 : Less than 12 Month s 12 Months or Mor e Tota l Estimate d Gros s Estimate d Gros s Estimate d Gros s Fai r Unrealize d Fai r Unrealize d Fai r Unrealize d Valu e Losse s Valu e Losse s Valu e Losse s Securities available for sale : U.S. government treasurie s $ 4,894 $ (48 ) $ - $ - $ 4,894 $ (48 ) U.S. government agencie s 73,953 (549 ) 10,168 (224 ) 84,121 (773 ) U.S. government mortgage-backed securitie s 39,565 (245 ) 5,344 (82 ) 44,909 (327 ) State and political subdivision s 89,904 (703 ) 16,631 (466 ) 106,535 (1,169 ) Corporate bond s 29,808 (198 ) 6,709 (191 ) 36,517 (389 ) $ 238,124 $ (1,743 ) $ 38,852 $ (963 ) $ 276,976 $ (2,706 ) 2016 : Less than 12 Month s 12 Months or Mor e Tota l Estimate d Gros s Estimate d Gros s Estimate d Gros s Fai r Unrealize d Fai r Unrealize d Fai r Unrealize d Valu e Losse s Valu e Losse s Valu e Losse s Securities available for sale : U.S. government treasuries $ 2,893 $ (46 ) $ - $ - $ 2,893 $ (46 ) U.S. government agencie s 48,225 (703 ) - - 48,225 (703 ) U.S. government mortgage-backed securitie s 33,753 (439 ) - - 33,753 (439 ) State and political subdivisions 125,558 (2,226 ) 6,512 (190 ) 132,070 (2,416 ) Corporate bond s 35,703 (694 ) - - 35,703 (694 ) $ 246,132 $ (4,108 ) $ 6,512 $ (190 ) $ 252,644 $ (4,298 ) At December 31, 2017, $2,706,000. 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, whether downgrades by bond rating agencies have occurred, and industry analysts’ reports. Management concluded that the 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 4 - Loans Receivable and C
Note 4 - Loans Receivable and Credit Disclosures | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Financing Receivables [Text Block] | Note 4. Receivable and Credit Disclosure s The composition of loans receivable is as follows (in thousands) 201 7 201 6 Real estate - constructio n $ 50,309 $ 61,042 Real estate - 1 to 4 family residentia l 146,258 149,507 Real estate - commercia l 350,626 315,702 Real estate - agricultura l 81,790 73,032 Commercia l 73,816 74,378 Agricultura l 69,806 76,994 Consumer and othe r 10,345 12,130 782,950 762,785 Less : Allowance for loan losse s (11,321 ) (10,507 ) Deferred loan fee s (79 ) (96 ) $ 771,550 $ 752,182 Construction loans are underwritten utilizing independent appraisals, sensitivity analysis of absorption, vacancy and lease rates and financial analysis of the developers and property owners. Construction loans are generally based upon estimates of costs and value associated with the complete project. These estimates may may . The Company originates 1 4 e underwriting process. The Company’s manual underwriting standards for 1 4 Properties securing 1 4 four not 90% 100% 1 4 1 4 Commercial and agricultural real estate loans are subject to underwriting standards and processes similar to commercial and agricultural operating loans, in addition to those unique to real estate loans. These loans are viewed primarily as cash flow loans and, secondarily, as loans secured by real estate. Commercial and agricultural real estate lending typically involves higher loan principal amounts and the repayment of these loans is generally dependent on the successful operation of the property securing the loan or the business conducted on the property securing the loan. Loan-to-value generally does not 80% may may . Commercial and agricultural operating loans are underwritten based on the Company ’s examination of current and projected cash flows to determine the ability of the borrower to repay their obligations as agreed. This underwriting includes the evaluation of cash flows of the borrower, underlying collateral, if applicable, and the borrower’s ability to manage its business activities. The cash flows of borrowers and the collateral securing these loans may first . The Company maintains an internal audit department that reviews and validates the credit risk program on a periodic basis. Results of these reviews are presented to management and the audit committee. The loan review process complements and reinforces the risk identification and assessment decisions made by lenders and credit personnel, as well as the Company’s policies and procedures. Summary changes in the allowance for loan losses for the years ended December 31, 2017, 2016 2015 (in thousands) 201 7 201 6 201 5 Balance, beginnin g $ 10,507 $ 9,988 $ 8,838 Provision for loan losse s 1,520 524 1,099 Recoveries of loans charged-of f 32 127 120 Loans charged-of f (738 ) (132 ) (69 ) Balance, endin g $ 11,321 $ 10,507 $ 9,988 Activity in the al lowance for loan losses, on a disaggregated basis, for the years ended December 31, 2017, 2016 2015 (in thousands) 2017 : 1-4 Family Constructio n Residentia l Commercia l Agricultura l Consumer Real Estat e Real Estat e Real Estat e Real Estat e Commercia l Agricultura l and Othe r Tota l Balance, beginnin g $ 908 $ 1,711 $ 3,960 $ 861 $ 1,728 $ 1,216 $ 123 $ 10,507 Provision (credit) for loan losse s (112 ) 1 774 136 691 (45 ) 75 1,520 Recoveries of loans charged-of f - 11 - - 7 - 14 32 Loans charged-of f - (7 ) - - (687 ) - (44 ) (738 ) Balance, endin g $ 796 $ 1,716 $ 4,734 $ 997 $ 1,739 $ 1,171 $ 168 $ 11,321 2016 : 1-4 Family Constructio n Residentia l Commercia l Agricultura l Consumer Real Estat e Real Estat e Real Estat e Real Estat e Commercia l Agricultura l and Othe r Tota l Balance, beginnin g $ 999 $ 1,806 $ 3,557 $ 760 $ 1,371 $ 1,256 $ 239 $ 9,988 Provision (credit) for loan losse s (121 ) (85 ) 403 101 352 (40 ) (86 ) 524 Recoveries of loans charged-of f 30 5 - - 83 - 9 127 Loans charged-of f - (15 ) - - (78 ) - (39 ) (132 ) Balance, endin g $ 908 $ 1,711 $ 3,960 $ 861 $ 1,728 $ 1,216 $ 123 $ 10,507 2015 : 1-4 Family Constructio n Residentia l Commercia l Agricultura l Consumer Real Estat e Real Estat e Real Estat e Real Estat e Commercia l Agricultura l and Othe r Tota l Balance, beginnin g $ 495 $ 1,648 $ 3,214 $ 737 $ 1,247 $ 1,312 $ 185 $ 8,838 Provision (credit) for loan losse s 454 157 339 23 124 (45 ) 47 1,099 Recoveries of loans charged-of f 50 26 4 - - 28 12 120 Loans charged-of f - (25 ) - - - (39 ) (5 ) (69 ) Balance, endin g $ 999 $ 1,806 $ 3,557 $ 760 $ 1,371 $ 1,256 $ 239 $ 9,988 Allowance for loan losses disaggregated on the basis of the impairment analysis method as of December 31, 2017 2016 (in thousands) 2017 : 1-4 Family Constructio n Residentia l Commercia l Agricultura l Consumer Real Estat e Real Estat e Real Estat e Real Estat e Commercia l Agricultura l and Othe r Tota l Ending balance: Individually evaluated for impairmen t $ - $ 42 $ 115 $ - $ 607 $ - $ 47 $ 811 Ending balance: Collectively evaluated for impairment 796 1,674 4,619 997 1,132 1,171 121 10,510 Ending balanc e $ 796 $ 1,716 $ 4,734 $ 997 $ 1,739 $ 1,171 $ 168 $ 11,321 2016 : 1-4 Family Constructio n Residentia l Commercia l Agricultura l Consumer Real Estat e Real Estat e Real Estat e Real Estat e Commercia l Agricultura l and Othe r Tota l Ending balance: Individually evaluated for impairment $ - $ 76 $ - $ - $ 644 $ - $ - $ 720 Ending balance: Collectively evaluated for impairmen t 908 1,635 3,960 861 1,084 1,216 123 9,787 Ending balanc e $ 908 $ 1,711 $ 3,960 $ 861 $ 1,728 $ 1,216 $ 123 $ 10,507 Loans receivable disaggregated on the basis of the impairment analysis method as of December 31, 2017 2016 (in thousands) 2017 : 1-4 Family Constructio n Residentia l Commercia l Agricultura l Consumer Real Estat e Real Estat e Real Estat e Real Estat e Commercia l Agricultura l and Othe r Tota l Ending balance: Individually evaluated for impairmen t $ - $ 689 $ 901 $ - $ 3,140 $ - $ 80 $ 4,810 Ending balance: Collectively evaluated for impairmen t 50,309 145,569 349,725 81,790 70,676 69,806 10,265 778,140 Ending balanc e $ 50,309 $ 146,258 $ 350,626 $ 81,790 $ 73,816 $ 69,806 $ 10,345 $ 782,950 2016 : 1-4 Family Constructio n Residentia l Commercia l Agricultura l Consumer Real Estat e Real Estat e Real Estat e Real Estat e Commercia l Agricultura l and Othe r Tota l Ending balance: Individually evaluated for impairmen t $ - $ 660 $ 399 $ - $ 3,942 $ - $ 76 $ 5,077 Ending balance: Collectively evaluated for impairment 61,042 148,847 315,303 73,032 70,436 76,994 12,054 757,708 Ending balanc e $ 61,042 $ 149,507 $ 315,702 $ 73,032 $ 74,378 $ 76,994 $ 12,130 $ 762,785 Credit Quality Indicators. As part of the on-going monitoring of the credit quality of the Company’s loan portfolio, management tracks certain credit quality indicators including trends related to (i) the risk ratings of construction, commercial and agricultural real estate loans and commercial and agricultural operating loans, (ii) the level of classified loans, (iii) net charge-offs, (iv) non-performing loans and (v) the general economic conditions in our market area. The Company utilizes a risk rating matrix to assign risk ratings to each of its construction, commercial and agricultural loans. Loans are rated on a scale of 1 7. 7 s as follows: Ratings 1, 2 3 - These ratings include loans of average to excellent credit quality borrowers. These borrowers generally have significant capital strength, moderate leverage and stable earnings and growth commensurate to their relative risk rating. These ratings are reviewed at least annually. These ratings also include performing loans less than $100,000 . Rating 4 - This rating includes loans on management’s “watch list” and is intended to be utilized for pass rated borrowers where credit quality has begun to show signs of financial weakness that now requires management’s heightened attention. This rating is reviewed at least quarterly . Rating 5 - This rating is for “Special Mention” loans in accordance with regulatory guidelines. This rating is intended to be temporary and includes loans to borrowers whose credit quality has clearly deteriorated and are at risk of further decline unless active measures are taken to correct the situation. This rating is reviewed at least quarterly . Rating 6 - This rating includes “Substandard” loans in accordance with regulatory guidelines, for which the accrual of interest has not not Rating 7 - This rating includes “Substandard-Impaired” loans in accordance with regulatory guidelines, for which the accrual of interest has generally been stopped. This rating includes loans; (i) where interest is more than 90 not may The credit risk profile by internally assigned grade, on a disaggregated basis, at December 31, 2017 2016 (in thousands) 2017 : Constructio n Commercia l Agricultura l Real Estat e Real Estat e Real Estat e Commercia l Agricultura l Tota l Pas s $ 47,726 $ 319,178 $ 60,301 $ 59,535 $ 45,816 $ 532,556 Watc h 2,583 27,528 20,114 9,628 22,640 82,493 Special Mentio n - 184 - - - 184 Substandar d - 2,835 1,375 1,513 1,350 7,073 Substandard-Impaire d - 901 - 3,140 - 4,041 $ 50,309 $ 350,626 $ 81,790 $ 73,816 $ 69,806 $ 626,347 2016 : Constructio n Commercia l Agricultura l Real Estat e Real Estat e Real Estat e Commercia l Agricultura l Tota l Pas s $ 57,420 $ 288,107 $ 51,720 $ 59,506 $ 57,415 $ 514,168 Watc h 3,245 22,833 15,251 9,512 18,938 69,779 Special Mentio n - 204 4,228 96 75 4,603 Substandar d 377 4,159 1,833 1,322 566 8,257 Substandard-Impaire d - 399 - 3,942 - 4,341 $ 61,042 $ 315,702 $ 73,032 $ 74,378 $ 76,994 $ 601,148 The credit risk profile based on payment activity, on a disaggregated basis, at December 31, 2017 2016 (in thousands) 2017 : 1-4 Family Residentia l Consumer Real Estat e and Othe r Tota l Performin g $ 145,551 $ 10,264 $ 155,815 Non-performin g 707 81 788 $ 146,258 $ 10,345 $ 156,603 2016 : 1-4 Family Residentia l Consumer Real Estat e and Othe r Tota l Performin g $ 148,828 $ 12,051 $ 160,879 Non-performin g 679 79 758 $ 149,507 $ 12,130 $ 161,637 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 fo llowing is a recap of impaired loans, on a disaggregated basis, at December 31, 2017, 2016 2015 December 31, 2017, 2016 2015 (in thousands) 201 7 : Unpai d Averag e Interest Recorded Principa l Relate d Recorde d Income Investmen t Balanc e Allowanc e Investmen t Recognize d With no specific reserve recorded : Real estate - constructio n $ - $ - $ - $ - $ - Real estate - 1 to 4 family residentia l 572 677 - 542 30 Real estate - commercia l 671 1,353 - 652 - Real estate - agricultura l - - - - - Commercia l 125 148 - 1,190 4 Agricultura l - - - - - Consumer and othe r 25 44 - 53 - Total loans with no specific reserve : 1,393 2,222 - 2,437 34 With an allowance recorded : Real estate - construction - - - 13 2 Real estate - 1 to 4 family residentia l 117 180 42 153 - Real estate - commercia l 230 230 115 46 - Real estate - agr icultural - - - - - Commercia l 3,015 3,336 607 2,357 - Agricultura l - - - - - Consumer and othe r 55 43 47 23 1 Total loans with specific reserve : 3,417 3,789 811 2,592 3 Tota l Real estate - constructio n - - - 13 2 Real estate - 1 to 4 family residentia l 689 857 42 695 30 Real estate - commercia l 901 1,583 115 698 - Real estate - agricultura l - - - - - Commercia l 3,140 3,484 607 3,547 4 Agricultura l - - - - - Consumer and othe r 80 87 47 76 1 $ 4,810 $ 6,011 $ 811 $ 5,029 $ 37 2016 : Unpai d Averag e Interest Recorded Principa l Relate d Recorde d Income Investmen t Balanc e Allowanc e Investmen t Recognize d With no specific reserve recorded : Real estate - constructio n $ - $ - $ - $ - $ 31 Real estate - 1 to 4 family residentia l 452 473 - 440 1 Real estate - commercia l 399 1,025 - 452 26 Real estate - agricultura l - - - - - Commercia l 2,747 2,672 - 580 - Agricultura l - - - 9 2 Consumer and othe r 76 81 - 68 6 Total loans with no specific reserve : 3,674 4,251 - 1,549 66 With an allowance recorded : Real estate - constructio n - - - - - Real estate - 1 to 4 family residentia l 208 360 76 572 5 Real estate - commercia l - - - 20 - Real estate - agricultura l - - - - - Commercia l 1,195 1,286 644 824 1 Agricultura l - - - - - Consumer and othe r - - - - - Total loans with specific reserve : 1,403 1,646 720 1,416 6 Tota l Real estate - constructio n - - - - 31 Real estate - 1 to 4 family residentia l 660 833 76 1,012 6 Real estate - commercia l 399 1,025 - 472 26 Re al estate - agricultural - - - - - Commercia l 3,942 3,958 644 1,404 1 Agricultura l - - - 9 2 Consumer and othe r 76 81 - 68 6 $ 5,077 $ 5,897 $ 720 $ 2,965 $ 72 2015 : Unpai d Averag e Interest Recorded Principa l Relate d Recorde d Income Investmen t Balanc e Allowanc e Investmen t Recognize d With no specific reserve recorded : Real estate - constructio n $ - $ 31 $ - $ 97 $ 129 Real estate - 1 to 4 family residentia l 296 304 - 188 - Real estate - commercial 456 1,030 - 554 29 Real estate - agricultura l - - - - - Commercia l 11 17 - 223 3 Agricultura l 11 13 - 13 - Consumer and othe r 2 2 - 4 2 Total loans with no specific reserve : 776 1,397 - 1,079 163 With an allowance recorded : Real estate - constructio n - - - - - Real estate - 1 to 4 family residentia l 754 891 273 768 - Real estate - commercia l 102 111 2 135 - Real estate - agricultura l - - - - - Commercia l 186 262 164 122 - Agricultura l - - - - - Consumer and othe r - - - - - Total loans with specific reserve : 1,042 1,264 439 1,025 - Tota l Real estate - constructio n - 31 - 97 129 Real estate - 1 to 4 family residentia l 1,050 1,195 273 956 - Real estate - commercia l 558 1,141 2 689 29 Real estate - agricultural - - - - - Commercia l 197 279 164 345 3 Agricultura l 11 13 - 13 - Consumer and othe r 2 2 - 4 2 $ 1,818 $ 2,661 $ 439 $ 2,104 $ 163 The interest foregone on nonaccrual loans for the years ended December 31, 2017, 2016 2015 $379,000, $272,000 $162,000, Nonaccrual loans at December 31, 2017 2016 $4,810,000 $5,077,000, . Troubled Debt Restructurings . The restructuring of a loan is considered a “troubled debt restructuring” (“TDR”) if both (i) the borrower is experiencing financial difficulties and (ii) the creditor has granted a concession. Concessions may Certain troubled debt restructurings are on nonaccrual status at the time of restruct uring. These borrowings are typically returned to accrual status after sustained repayment performance in accordance with the restructuring agreement for a reasonable period of at least six For troubled debt restructurings that were on nonaccrual status before the modification, a specific reserve may to evaluate all troubled debt restructurings for possible impairment and, as necessary, recognizes impairment through the allowance. The Company had charge offs related to TDRs for the years ended December 31, 2017 2016 $285,000 none, The Company had loans meeting the definition of TDR of $2,984,000 December 31, 2017, $3,672,000 December 31, 2016, of which were included as impaired and nonaccrual loans . The Company ’s TDR, on a disaggregated basis, occurring in the years ended December 31 (dollars in thousands) 201 7 201 6 Pre-Modificatio n Post-Modificatio n Pre-Modificatio n Post-Modificatio n Outstandin g Outstandin g Outstandin g Outstandin g Number o f Recorde d Recorde d Number o f Recorde d Recorde d Contract s Investmen t Investmen t Contract s Investmen t Investmen t Real estate - constructio n - $ - $ - - $ - $ - Real estate - 1 to 4 family residentia l - - - 1 149 149 Real estate - commercia l - - - - - - Real estate - agricultura l - - - - - - Commercia l 2 93 99 11 3,273 3,273 Agricultura l - - - - - - Consumer and othe r - - - 3 70 70 2 $ 93 $ 99 15 $ 3,492 $ 3,492 During the year ended December 31, 2017, two extended beyond their normal terms and on one During the year ended December 31, 2016, three fifteen one ur family loan was granted delayed payments for a longer than insignificant amount of time. Three commercial operating loans were granted maturities longer than normal and seven There was one December 31, 2017 There were three one December 31, 2016 60 . There was no from specific reserves or from charge-offs for the TDR loans included in the previous table . An aging analysis of the recorded investment in loans, on a disaggregated basis, as of December 31, 2017 2016, (in thousands) 30-89 90 Days 90 Days Day s or Greate r Tota l or Greate r Past Du e Past Du e Past Du e Curren t Tota l Accruin g Real estate - constructio n $ 159 $ - $ 159 $ 50,150 $ 50,309 $ - Real estate - 1 to 4 family residentia l 940 414 1,354 144,904 146,258 18 Real estate - commercia l 363 629 992 349,634 350,626 - Real estate - agricultura l 655 - 655 81,135 81,790 - Commercia l 275 418 693 73,123 73,816 - Agricultura l 77 - 77 69,729 69,806 - Consumer and othe r 77 38 115 10,230 10,345 - $ 2,546 $ 1,499 $ 4,045 $ 778,905 $ 782,950 $ 18 2016 : 30-89 90 Day s 90 Days Day s or Greate r Tota l or Greate r Past Du e Past Du e Past Du e Curren t Tota l Accruin g Real estate - constructio n $ - $ - $ - $ 61,042 $ 61,042 $ - Real estate - 1 to 4 family residentia l 1,577 35 1,612 147,895 149,507 19 Real estate - commercia l 1,420 - 1,420 314,282 315,702 - Real estate - agricultura l - - - 73,032 73,032 - Commercia l 84 747 831 73,547 74,378 - Agricultura l - - - 76,994 76,994 - Consumer and othe r 36 3 39 12,091 12,130 3 $ 3,117 $ 785 $ 3,902 $ 758,883 $ 762,785 $ 22 There are no to have serious doubts as to the ability of such borrowers to comply with the present loan repayment terms . As of December 31, 2017, no . Loans are made in the normal course of business to certain directors and executive officers of the Company and to their affiliates. The terms of these loans, including interest rates and collateral, are similar to those prevailing for comparable transactions with others and do not December 31, 2017 2016 (in thousands) 201 7 201 6 Balance, beginning of year $ 10,353 $ 9,049 New loans 11,264 13,218 Repayments (13,018 ) (11,931 ) Change in status 10 17 Balance, end of year $ 8,609 $ 10,353 |
Note 5 - Bank Premises and Equi
Note 5 - Bank Premises and Equipment | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | Note 5. t The major classes of bank premises and equipment and the total accumulated depreciation at December 31, 2017 2016 (in thousands) 201 7 201 6 Lan d $ 3,773 $ 3,798 Buildings and improvement s 18,841 18,979 Furniture and equipmen t 6,489 6,379 29,103 29,156 Less accumulated depreciatio n 13,704 13,107 $ 15,399 $ 16,049 |
Note 6 - Other Real Estate Owne
Note 6 - Other Real Estate Owned | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Real Estate Owned [Text Block] | Note 6. d Changes in the other real estate owned for the years ended December 31, 2017 2016 (in thousands) 201 7 201 6 Balance, beginning of yea r $ 546 $ 1,250 Transfer of loan s 17 157 Impairmen t - (28 ) Net proceeds from sal e (192 ) (1,052 ) Gain on sale, ne t 15 219 Balance, end of yea r $ 386 $ 546 The following table provides the composition of other real estate owned at December 31, 2017 2016 (in thousands) 201 7 201 6 Construction and land developmen t $ 320 $ 320 1 to 4 family residential house s 66 226 $ 386 $ 546 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 7 - Goodwill
Note 7 - Goodwill | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Goodwill Disclosure [Text Block] | Note 7. il l Accounting standards allow for goodwill to be tested for impairment by first not If the reporting unit does not no 2017 2016. 15 |
Note 8 - Intangible Assets
Note 8 - Intangible Assets | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Intangible Assets Disclosure [Text Block] | Note 8. s In conjunction with the acquisition of wealth management business in 2017 2016, $109,000 $412,000 The following sets forth the carrying amounts and accumulated amortization of intangible assets at December 31, 2017 2016 (in thousands) 201 7 201 6 Gros s Accumulate d Gros s Accumulate d Amoun t Amortizatio n Amoun t Amortizatio n Core deposit intangible asse t $ 2,518 $ 1,861 $ 2,518 $ 1,563 Customer lis t 520 86 412 14 Tota l $ 3,038 $ 1,947 $ 2,930 $ 1,577 The weighted average life of the intangible assets is 2.5 2.8 December 31, 2017 2016, . The amortization expense for the intangible assets totaled $370,000, $368,000 $421,000 December 31, 2017, 2016 2015, (in thousands) 201 8 327 201 9 203 202 0 147 202 1 146 202 2 146 Afte r 122 $ 1,091 The following sets forth the activity related to intangible assets for the years ended December 31, 2017, 2016 2015 (in thousands) 201 7 201 6 201 5 Beginning intangibles, ne t $ 1,353 $ 1,309 $ 1,730 Acquisitio n 108 412 - Amortizatio n (370 ) (368 ) (421 ) Ending intangible asset, ne t $ 1,091 $ 1,353 $ 1,309 |
Note 9 - Deposits
Note 9 - Deposits | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Deposit Liabilities Disclosures [Text Block] | Note 9. s At December 31, 2017, (in thousands) 201 8 $ 105,187 201 9 47,169 202 0 23,923 202 1 11,884 202 2 6,872 $ 195,035 Interest expense on deposits for the years ended December 31, 2017, 2016 2015 (in thousands) 201 7 201 6 201 5 NOW account s $ 1,161 $ 585 $ 469 Savings and money marke t 1,385 755 674 Time deposit s 1,893 1,734 1,876 $ 4,439 $ 3,074 $ 3,019 Deposits held by th e Company from related parties at December 31, 2017 2016 $15,267,000 $15,570,000, . |
Note 10 - Pledged Collateral Re
Note 10 - Pledged Collateral Related to Securities Sold Under Repurchase Agreements | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Secured Borrowings [Text Block] | Note 10. s The following sets forth the pledged collateral at estimated fair value related to securities sold under repurchase agreements and term repurchase agreements as of December 31, 2017 2016 (in thousands) 201 7 201 6 Remaining Contractual Maturity of the Agreement s Overnigh t Greater tha n Total Overnigh t Greater tha n Total 90 day s 90 day s Securities sold under agreements to repurchase : U.S. government treasurie s $ 1,474 $ - $ 1,474 $ 1,476 $ - $ 1,476 U.S. government agencie s 47,323 - 47,323 46,557 - 46,557 U.S. government mortgage-backed securitie s 22,824 - 22,824 30,376 - 30,376 Tota l $ 71,621 $ - $ 71,621 $ 78,409 $ - $ 78,409 Term repurchase agreements : U.S. government agencie s $ - $ 14,986 $ 14,986 $ - $ 15,068 $ 15,068 U.S. government mortgage-backed securitie s - - - - 354 354 Tota l $ - $ 14,986 $ 14,986 $ - $ 15,422 $ 15,422 Total pledged collatera l $ 71,621 $ 14,986 $ 86,607 $ 78,409 $ 15,422 $ 93,831 |
Note 11 - Borrowings
Note 11 - Borrowings | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | Note 11. s Securities sold under repurchase agreements (repurchase agreements) are short-term and are secured by securities available-for-sale. At December 31, 201 7, in thousands) Weighted Averag e Amoun t Interest Rat e Feature s FHLB advances maturing in : 2018 11,500 2.94 % 2020 2,000 1.58 % Total FHLB advance s $ 13,500 2.73 % Other borrowings maturing in : 2018 $ 13,000 3.62 % $7,000,000 term repurchase agreements callable quarterly in 2018 Total other borrowing s $ 13,000 3.62 % Total FHLB and other borrowing s $ 26,500 3.17 % Borrowed funds at December 31, 201 7 ther borrowings consist of term repurchase agreements. FHLB advances are collateralized by certain 1 4 $14,986,000 December 31, 2017. $185,417,000 December 31, 2017. Borrowed funds at December 31, 201 6 $27,500,000 ther borrowings consist of term repurchase agreements. FHLB advances are collateralized by certain 1 4 $15,422,000 December 31, 2016. $177,905,000 December 31, 2016. |
Note 12 - Employee Benefit Plan
Note 12 - Employee Benefit Plans | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Pension and Other Postretirement Benefits Disclosure [Text Block] | Note 12. s The Company has a qualified 401 December 31, 2017, 2016 2015, 3% 3% December 31, 2017, 2016 2015, $737,000, $722,000, $678,000, . |
Note 13 - Income Taxes
Note 13 - Income Taxes | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | Note 13. s The components of income tax expense for the years ended December 31, 2017, 2016 2015 (in thousands) 201 7 201 6 201 5 Federal : Curren t $ 5,708 $ 5,370 $ 3,119 Deferre d (305 ) (43 ) 1,753 Deferred due to enacted changes in tax rate s 1,190 - - 6,593 5,327 4,872 State : Curren t 1,018 1,261 749 Deferre d (26 ) 217 186 992 1,478 935 Income tax expens e $ 7,585 $ 6,805 $ 5,807 Total income tax expense differed from the amounts computed by applying the U.S. federal income tax rate of 35% December 31, 2017, 2016 2015 (in thousands) 201 7 201 6 201 5 Income taxes at 35% federal tax rat e $ 7,449 $ 7,889 $ 7,287 Increase (decrease) resulting from : Tax-exempt interest and dividend s (1,737 ) (1,943 ) (2,046 ) State taxes, net of federal tax benefi t 717 729 506 Effect of change in deferred tax asset related to enacte d s 1,190 - - Othe r (34 ) 130 60 Total income tax expense $ 7,585 $ 6,805 $ 5,807 The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred liabi lities at December 31, 2017 2016 (in thousands) 201 7 201 6 Deferred tax assets : Allowance for loan losse s $ 2,776 $ 3,823 Net unrealized losses on securities available-for-sal e 171 338 Other real estate owne d 68 116 Accrued vacatio n 168 251 State alternative minimum tax carryforward 226 226 Other intangible asset s 155 232 Off balance sheet reserv e 126 191 Other deferred tax asset s 342 228 4,032 5,405 Deferred tax liabilities : Bank premises and equipmen t (643 ) (937 ) Goodwil l (604 ) (736 ) Other deferred tax liabilitie s (16 ) (20 ) (1,263 ) (1,693 ) Valuation allowanc e (226 ) (226 ) Net deferred tax asse t $ 2,543 $ 3,486 Income taxes currently payable of approximately $322,000 $482,000 December 31, 2017 2016, . The Company has approximately $ 226,000 AMT”) credit carryforwards available to offset future state alternative minimum taxable income as of December 31, 2017 2016. not not . The Company and its subsidiaries file one no subject to U.S. federal income and state tax examinations for years before 2014 . The Company follows the accounting requirements for uncertain tax positions. Management has determined that the Company has no no l accrued interest or penalties as of or for the years ended December 31, 2017 2016 no December 31, 2017, no 12 December 31, 2017 2016 . |
Note 14 - Commitments, Continge
Note 14 - Commitments, Contingencies and Concentrations of Credit Risk | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | Note 14. ts, Contingencies and Concentrations of Credit Ris k 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 credi t. These instruments involve, to varying degrees, elements of credit risk in excess of the amount recognized in the balance sheet . The Company ’s exposure to credit loss in the event of nonperformance by the other party to the financial instrument for commitments to extend credit and standby letters of credit is represented by the contractual amount of those instruments. The Company uses the same credit policies in making commitments and conditional obligations as they do for on-balance-sheet instruments. A summary of the Company’s commitments at December 31, 2017 2016 (in thousands) 2017 2016 Commitments to extend credi t $ 153,294 $ 164,066 Standby letters of credi t 3,761 5,309 $ 157,055 $ 169,375 Commitments to extend credit are agreements to lend to a customer as long as there is no contract. At December 31, 2017 2016, $112,325,000 $138,473,000 not . Standby letters of credit are conditional commitments issued by the Banks to guarantee the performance of a customer to a third nts. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loan facilities to customers. Collateral held varies and is required in instances which the Banks deem necessary. In the event the customer does not third At December 31, 2017 2016, $507,000 $512,000, ectively to cover estimated credit losses for off-balance-sheet loan commitments and standby letters of credit . In the normal course of business, the Company is involved in various legal proceedings. In the opinion of management, any liability resulting from such proceedings would not . Concentrations of credit risk: The Banks originate real estate, consumer, and commercial loans, primarily in Boone, Hancock, Marshall, Polk and Story Counties in Iowa, as well as adjacent counties. Although the Banks have diversified loan portfolios, a substantial portion of their borrowers’ ability to repay loans is dependent upon economic conditions in the Banks’ market areas . |
Note 15 - Regulatory Matters
Note 15 - Regulatory Matters | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | Note 15. Matter s The Company and the Banks are subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possible additional discretionary acti ons by regulators that, if undertaken, could have a direct material effect on the Company’s and Banks’ financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company and the Banks must meet specific capital guidelines that involve quantitative measures of their assets, liabilities and certain off-balance-sheet items as calculated under regulatory accounting practices. The capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. Prompt corrective action provisions are not 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. 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 one January 1, 2015, . Quantitative measures established by regulation to ensure capital adequacy require the Company and each subsidiary bank to maintain minimum amounts and ratios (set forth in the following table) of total and Tier I capital (as defined in the regulations) to risk-weighted assets (as defined), and of Tier I capital (as defined) to average assets (as defined). Management believes, as of December 31, 2017 2016, . Beginning in 2016, three January 1, 2019 2. 5 2.5 2019 . As of December 31, 2017, ain minimum common equity, total risk-based, Tier I risk-based, and Tier I leverage ratios as set forth in the table. Management believes there are no December 31, 2017 2016 . To Be Wel l Capitalized Unde r For Capita l Prompt Correctiv e Actua l Adequacy Purposes * Action Provision s Amoun t Rati o Amoun t Rati o Amoun t Rati o As of December 31, 2017 : Total capital (to risk - : Consolidate d $ 176,306 17.6 % $ 92,500 9.25 % N/A N/A Boone Bank & Trus t 15,344 16.5 8,613 9.25 $ 9,312 10.0 % First National Ban k 81,390 15.5 48,466 9.25 52,396 10.0 Reliance State Ban k 26,982 15.3 16,324 9.25 17,648 10.0 State Bank & Trus t 20,064 15.8 11,738 9.25 12,690 10.0 United Bank & Trus t 14,833 19.9 6,878 9.25 7,436 10.0 Tier 1 capital (to risk - : Consolidate d $ 164,467 16.4 % $ 72,500 7.25 % N/A N/A Boone Bank & Trus t 14,453 15.5 6,751 7.25 $ 7,449 8.0 % First National Ban k 75,404 14.4 37,987 7.25 41,917 8.0 Reliance State Ban k 24,775 14.0 12,795 7.25 14,118 8.0 State Bank & Trust 18,475 14.6 9,200 7.25 10,152 8.0 United Bank & Trus t 14,012 18.8 5,391 7.25 5,649 8.0 Tier 1 capital (to average - : Consolidate d $ 164,467 12.1 % $ 54,264 4.00 % N/A N/A Boone Bank & Trus t 14,453 10.4 5,568 4.00 $ 6,960 5.0 % First National Ban k 75,404 10.1 29,910 4.00 37,387 5.0 Reliance State Ban k 24,775 11.6 8,553 4.00 10,691 5.0 State Bank & Trus t 18,475 11.8 6,284 4.00 7,856 5.0 United Bank & Trus t 14,012 12.8 4,362 4.00 5,453 5.0 Common equity tier 1 capita l (to risk-weighted assets): Consolidate d $ 164,467 16.4 % $ 57,500 5.75 % N/A N/A Boone Bank & Trus t 14,453 15.5 5,354 5.75 $ 6,053 6.5 % First National Ban k 75,404 14.4 30,128 5.75 34,058 6.5 Reliance State Ban k 24,775 14.0 10,147 5.75 11,471 6.5 State Bank & Trus t 18,475 14.6 7,297 5.75 8,248 6.5 United Bank & Trus t 14,012 18.8 4,276 5.75 4,833 6.5 * These ratios for December 31, 2017 a capital conservation buffer of 1.25% 1 . To Be Wel l Capitalized Unde r For Capita l Prompt Correctiv e Actua l Adequacy Purposes * Action Provision s Amoun t Rati o Amoun t Rati o Amoun t Rati o As of December 31, 2016 : Total capital (to risk - : Consolidate d $ 170,358 17.2 % $ 85,241 8.625 % N/A N/A Boone Bank & Trus t 15,044 17.2 7,534 8.625 $ 8,735 10.0 % First National Ban k 78,322 15.3 44,279 8.625 51,338 10.0 Reliance State Ban k 26,095 14.1 15,927 8.625 18,466 10.0 State Bank & Trus t 20,170 16.4 10,590 8.625 12,278 10.0 United Bank & Trus t 14,897 19.2 6,684 8.625 7,749 10.0 Tier 1 capital (to risk - : Consolidate d $ 159,325 16.1 % $ 65,475 6.625 % N/A N/A Boone Bank & Trus t 14,132 16.2 5,787 6.625 $ 6,988 8.0 % First National Ban k 72,750 14.2 34,011 6.625 41,070 8.0 Reliance State Ban k 24,139 13.1 12,234 6.625 14,773 8.0 State Bank & Trust 18,633 15.2 8,134 6.625 9,822 8.0 United Bank & Trus t 14,078 18.2 5,134 6.625 6,199 8.0 Tier 1 capital (to average - : Consolidate d $ 159,325 12.0 % $ 53,316 4.000 % N/A N/A Boone Bank & Trus t 14,132 10.2 5,529 4.000 $ 6,911 5.0 % First National Ban k 72,750 10.0 29,077 4.000 36,347 5.0 Reliance State Ban k 24,139 11.5 8,374 4.000 10,467 5.0 State Bank & Trus t 18,633 11.6 6,449 4.000 8,061 5.0 United Bank & Trus t 14,078 12.5 4,523 4.000 5,654 5.0 Common equity tier 1 capita l (to risk-weighted assets): Consolidate d $ 159,325 16.1 % $ 50,650 5.125 % N/A N/A Boone Bank & Trus t 14,132 16.2 4,477 5.125 $ 5,678 6.5 % First National Ban k 72,750 14.2 26,311 5.125 33,370 6.5 Reliance State Ban k 24,139 13.1 9,464 5.125 12,003 6.5 State Bank & Trus t 18,633 15.2 6,292 5.125 7,981 6.5 United Bank & Trus t 14,078 18.2 3,972 5.125 5,037 6.5 * These ratios for December 31, 2016 a capital conservation buffer of 0.625% 1 . Federal and state banking regulations place certain restrictions on dividends paid and loans or advances made by the Banks to the Company. Dividends paid by each Bank to the Company would be prohibited if the effect thereof would cause the Bank’s capital to be reduced below applicable minimum capital requirements. Management believes that these restrictions currently do not . |
Note 16 - Fair Value Measuremen
Note 16 - Fair Value Measurements | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 16. s Fair value is defined as the price that would be received to sell an asset or paid to transfer a liabil ity in an orderly transaction between market participants. A fair value measurement assumes that the transaction to sell the asset or transfer the liability occurs in the principal market for the asset or liability or, in the absence of a principal market, the most advantageous market for the asset or liability. The price in the principal (or most advantageous) market used to measure the fair value of the asset or liability shall not not . The standards require the use of valuation techniques that are consistent with the market approach, the income approach, and/or the cost approach. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets and liabilities. The income approach uses valuation techniques to convert future amounts, such as cash flows or earnings, to a single present amount on a discounted basis. The cost approach is based on the amount that currently would be required to replace the service capacity of an asset (replacement cost). Valuation techniques are consistently applied. Inputs to valuation techniques refer to the assumptions that market participants would use in pricing the asset or liability. Inputs may 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 process for identical or similar assets or liabilities in markets that are not Level 3: 3 ts 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 December 31, 2017 2016 (in thousands) Descriptio n Tota l Level 1 Level 2 Level 3 201 7 U.S. government treasurie s $ 6,367 $ 6,367 $ - $ - U.S. government agencie s 111,263 - 111,263 - U.S. government mortgage-backed securitie s 81,780 - 81,780 - State and political subdivision s 237,413 - 237,413 - Corporate bond s 58,464 - 58,464 - Equity securities, othe r 3,056 34 3,022 - $ 498,343 $ 6,401 $ 491,942 $ - 201 6 U.S. government treasurie s $ 4,368 $ 4,368 $ - $ - U.S. government agencie s 110,209 - 110,209 - U.S. government mortgage-backed securitie s 82,858 - 82,858 - State and political subdivision s 264,448 - 264,448 - Corporate bond s 51,184 - 51,184 - Equity securities, othe r 3,013 - 3,013 - $ 516,080 $ 4,368 $ 511,712 $ - Level 1 Other available-for-sale securities are reported at fair value utilizing Level 2 may 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 or a change in previously recognized impairment). The following table presents the assets carried on the balance sheet (after specific reserves) by caption and by level with the valuation hierarchy as of December 31, 2017 2016 (in thousands) Descriptio n Tota l Level 1 Level 2 Level 3 201 7 Loan s $ 2,606 $ - $ - $ 2,606 Other real estate owne d 386 - - 386 Tota l $ 2,992 $ - $ - $ 2,992 201 6 Loan s $ 683 $ - $ - $ 683 Other real estate owne d 546 - - 546 Tota l $ 1,229 $ - $ - $ 1,229 Loans: 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 or the cash flow method for noncollateral dependent loans. Fair value for collateral dependent impaired loans is based upon appraised values 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 is a component of the allowance for loan losses. The Company considers these fair values level 3 . Other Real Estate Owned: Other real estate owned in the table above consists of real estate obtained through foreclosure. Other real estate owned is recorded at fair value less estimated selling costs, at the date of transfer. Subsequent to the transfer, other real estate owned is carried at the lower of cost or fair value, less estimated selling costs. The carrying value of other real estate owned is not 3 . The significant inputs used in the fair value measurements f or Level 3 December 31, 2017 2016 (in thousands) 201 7 Fair Valu e Valuatio n Range of Unobservable Range Technique s Input s (Average ) Impaired Loan s $ 2,606 Evaluation of collatera l Estimation of valu e NM* Other real estate owne d $ 386 Appraisa l Appraisal adjustmen t 6% - 8% (7%) 201 6 Fair Valu e Valuatio n Range of Unobservable Range Technique s Input s (Average ) Impaired Loan s $ 683 Evaluation of collatera l Estimation of valu e NM* Other real estate owne d $ 546 Appraisa l Appraisal adjustmen t 6% - 10% (8%) * Not Evaluations of the underlying assets are completed for each impaired collateral dependent 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 not GAAP requires disclosure of the fair value of financial assets and financial liabilities, including those th at are not Fair value of financial instruments: The following methods and assumptions were used by the Company in estimating fair value disclosures : 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 : Fair value measurement for Level 1 2 not may 1 Other securities available-for-sale are reported at fair value utilizing Level 2 Loans receivable : The fair value of loans is calculated by discounting scheduled cash flows through the estimated maturity using estimated market discount rates, which reflect the credit and interest rate risk inherent in the loan. The estimate of maturity is based on the historical experience, with repayments for each loan classification modified, as required, by an estimate of the effect of current economic and lending conditions. The effect of nonperforming loans is considered in assessing the credit risk inherent in the fair value estimate . Loans held for sale : The fair value of loans held for sale is based on prevailing market prices . Deposit liabilities : Fair values of deposits with no not . Securities sold under agreements to repurchase : The carrying amounts of securities sold under agreements to repurchase approximate fair value because of the generally short-term nature of the instruments . FHLB advances and other borrowings: Fair values of FHLB advances and other borrowings are estimated using discounted cash flow analysis based on interest rates currently being offered with similar terms. Accrued income receivable and accrued interest payable : The carrying amounts of accrued income receivable and accrued interest payable approximate fair value . Commitments to extend credit and standby letters of credit: The fair values of commitments to extend credit and standby letters of credit are based on fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreement and credit worthiness of the counterparties. The carrying value and fair value of the commitments to extend credit and standby letters of credit are not . Limitations : Fair value estimates are made at a specific point in time, based on relevant market information and information about the financial instrument. Because no . The following table includes the carrying amounts and estimated fair values of financial assets and liabilities as of December 31, 2017 2016 (in thousands) 201 7 201 6 Fair Valu e Estimate d Estimate d Hierarch y Carryin g Fai r Carryin g Fai r Leve l Amoun t Valu e Amoun t Valu e Financial assets : Cash and due from bank s Level 1 $ 26,398 $ 26,398 $ 29,478 $ 29,478 Interest bearing deposit s Level 1 43,022 43,022 31,737 31,737 Securities available-for-sal e See previous tabl e 498,343 498,343 516,080 516,080 Loans receivable, ne t Level 2 771,550 768,444 752,182 746,580 Loans held for sal e Level 2 - - 243 243 Accrued income r eceivable Level 1 8,382 8,382 7,769 7,769 Financial liabilities : Deposit s Level 2 $ 1,134,391 $ 1,134,468 $ 1,109,409 $ 1,110,211 Securities sold under agreements to repurchase Level 1 37,425 37,425 58,337 58,337 FHLB advance s Level 2 13,500 13,482 14,500 14,681 Other borrowing s Level 2 13,000 13,079 13,000 13,386 Accrued interest payabl e Level 1 477 477 408 408 |
Note 17 - Subsequent Events
Note 17 - Subsequent Events | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | Note 17. s Management evaluated subsequent events through the date the financial statements were issued. There were no December 31, 2017, March 12, 2018, December 31, 2017. no not December 31, 2017. |
Note 18 - Ames National Corpora
Note 18 - Ames National Corporation (Parent Company Only) Financial Statements | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Condensed Financial Information of Parent Company Only Disclosure [Text Block] | Note 18. s Information relative to the Parent Company ’s balance sheets at December 31, 2017 2016, three December 31, 2017, (in thousands) CONDENSED BALANCE SHEET S December 31, 2017 201 6 201 7 201 6 ASSET S Cash and due from bank s $ 42 $ 21 Interest bearing deposits in bank s 13,846 11,160 Investment in bank subsidiarie s 153,647 149,962 Loans receivable, ne t 2,275 3,190 Premises and equipment, ne t 2,848 2,960 Accrued income receivabl e 6 10 Other real estate owne d 320 320 Other asset s 278 22 Total asset s $ 173,262 $ 167,645 LIABILITIE S Dividends payabl e $ 2,048 $ 1,955 Deferred income taxe s 70 193 Accrued expenses and other liabilitie s 390 392 Total liabilitie s 2,508 2,540 STOCKHOLDERS' EQUIT Y Common stoc k 18,622 18,622 Additional paid-in capita l 20,879 20,879 Retained earning s 131,685 126,181 Accumulated other comprehensive (loss ) (432 ) (577 ) Total stockholders' equit y 170,754 165,105 Total liabilities and stockholders' equit y $ 173,262 $ 167,645 CONDENSED STATEMENTS OF INCOM E Years Ended December 31, 2017, 2016 201 5 201 7 201 6 201 5 Operating income : Equity in net income of bank subsidiarie s $ 13,896 $ 15,994 $ 15,083 Interes t 151 192 195 Dividend s - - 28 Rental incom e 420 415 404 Gain on sale of other real estate owne d - 207 - Other incom e 1,844 1,769 1,737 Securities gain s - - 279 16,311 18,577 17,726 Credit for loan losse s (13 ) (153 ) (30 ) Operating income after credit for loan losse s 16,324 18,730 17,756 Operating expense s 2,914 2,789 2,776 Income before income taxe s 13,410 15,941 14,980 Income tax expense (benefit ) (287 ) 206 (35 ) Net incom e $ 13,697 $ 15,735 $ 15,015 CO NDENSED STATEMENTS OF CASH FLOW S Years Ended December 31, 2017, 2016 201 5 201 7 201 6 201 5 CASH FLOWS FROM OPERATING ACTIVITIE S Net incom e $ 13,697 $ 15,735 $ 15,015 Adjustments to reconcile net income to net cash : Depreciatio n 113 124 131 Credit for loan losse s (13 ) (153 ) (30 ) Provision for deferred income taxe s (123 ) 256 72 Securities gains, ne t - - (279 ) Gain on sale of other real estate owned - (207 ) - Equity in net income of bank subsidiarie s (13,896 ) (15,994 ) (15,083 ) Dividends received from bank subsidiaries 10,355 9,350 8,350 (Increase) decrease in accrued income receivabl e 5 2 (3 ) (Increase) decrease in other assets (248 ) 90 129 Increase (decrease) in accrued expense and other liabilitie s (9 ) 8 5 Net cash provided by operating activities 9,881 9,211 8,307 CASH FLOWS FROM INVESTING ACTIVITIE S Proceeds from sale of securities available-for-sal e - - 909 (Increase) in interest bearing deposits in bank s (2,686 ) (2,248 ) (1,296 ) Decrease in loan s 927 126 119 Purchase of other real estate owne d - - (739 ) Proceeds from the sale of other real estate owne d - 626 - Purchase of bank premises and equipmen t (1 ) - (33 ) Net cash used in investing activitie s (1,760 ) (1,496 ) (1,040 ) CASH FLOWS FROM FINANCING ACTIVITIE S Dividends pai d (8,100 ) (7,728 ) (7,263 ) Net cash used in financing activities (8,100 ) (7,728 ) (7,263 ) Net increase (decrease) in cash and cash equivalent s 21 (13 ) 4 CASH AND DUE FROM BANK S Beginnin g 21 34 30 Endin g $ 42 $ 21 $ 34 SUPPLEMENTAL DISCLOSURE OF CASH FLO W N Cash receipts for income taxe s $ 142 $ 171 $ 237 |
Note 19 - Selected Quarterly Fi
Note 19 - Selected Quarterly Financial Data (Unaudited) | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Quarterly Financial Information [Text Block] | Note 19. ) (in thousands, except earnings per share) : 201 7 March 3 1 June 3 0 September 3 0 December 3 1 Total interest incom e $ 11,084 $ 11,471 $ 11,612 $ 11,628 Total interest expens e 1,201 1,405 1,461 1,514 Net interest incom e 9,883 10,066 10,151 10,114 Provision for loan losse s 398 767 57 298 Net interest income after provision for loan losse s 9,485 9,299 10,094 9,816 Noninterest incom e 2,081 2,025 1,860 1,976 Noninterest expens e 6,477 6,399 6,296 6,182 Income before income taxe s 5,089 4,925 5,658 5,610 Income tax expens e 1,479 1,453 1,730 2,923 Net incom e $ 3,610 $ 3,472 $ 3,928 $ 2,687 Basic and diluted earnings per common shar e $ 0.39 $ 0.37 $ 0.42 $ 0.29 201 6 March 3 1 June 3 0 September 3 0 December 3 1 Total interest incom e $ 10,849 $ 11,006 $ 11,078 $ 11,114 Total interest expens e 1,013 1,014 1,028 1,080 Net interest incom e 9,836 9,992 10,050 10,034 P rovision for loan losses 192 14 235 84 Net interest income after provision for loan losse s 9,644 9,978 9,815 9,950 Noninterest incom e 2,099 1,925 2,004 2,059 Noninterest expens e 6,435 6,121 6,112 6,267 Income before income taxe s 5,308 5,782 5,707 5,742 Income tax expens e 1,501 1,683 1,903 1,717 Net incom e $ 3,807 $ 4,099 $ 3,804 $ 4,025 Basic and diluted earnings per common shar e $ 0.41 $ 0.44 $ 0.41 $ 0.43 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2017 | |
Accounting Policies [Abstract] | |
Segment Reporting, Policy [Policy Text Block] | Segment information : The Company uses the “management approach” for reporting information about segments in annual and interim financial statements. The “management approach” is based on the way the chief operating decision-maker organizes segments within a company for making operating decisions and assessing performance. Based on the “management approach” model, the Company has determined that its business is comprised of one |
Consolidation, Policy [Policy Text Block] | Consolidation : The consolidated financial statements include the accounts of Ames National Corporation (the Parent Company) and its wholly-owned subsidiaries, First National Bank, Ames, Iowa (FNB); State Bank & Trust Co., Nevada, Iowa (SBT); Boone Bank & Trust Co., Boone, Iowa (BBT); Reliance State Bank (RSB), Story City, Iowa; and United Bank & Trust NA, Marshalltown, Iowa (UBT) (collectively, the Banks). All significant intercompany transactions and balances have been eliminated in consolidation |
Use of Estimates, Policy [Policy Text Block] | Use of estimates : The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term relate to the determination of the allowance for loan losses, the assessment of goodwill impairment and the assessment of other-than-temporary impairment for certain financial instruments |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and due from banks : For purposes of reporting cash flows, cash and due from banks include cash on hand and amounts due from banks. The Company reports net cash flows for customer loan transactions, deposit transactions and short-term borrowings with maturities of 90 |
Marketable Securities, Available-for-sale Securities, Policy [Policy Text Block] | Securities available-for-sale : The Company classifies all securities as available-for-sale. Securities available-for-sale are those securities the Company may . Gains and losses on the sale of securities are determined using the specific identification method based on amortized cost and are reflected in results of operation at the time of sale. Interest and dividend income, adjusted by amortization of purchase premium or discount over the estimated life of the security using the level yield method, is included in income as earned . Declines in the fair value of securities available-for-sale below their cost that are deemed to be other-than-temporary are reflected in earnings as realized losses. In estimating other-than-temporary impairment losses, management considers ( 1 t to sell the investment securities and the more likely than not 2 3 . |
Receivables, Policy [Policy Text Block] | Loans : Loans are stated at the principal amount outstanding, net of deferred loan fees and the allowance for loan losses. Interest on loans is credited to income as earned based on the principal amount outstanding. The Banks’ policy is to discontinue the accrual of interest income on any loan 90 no |
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block] | Allowance for loan losses : The allowance for loan losses is established through a provision for loan losses and maintained at a level deemed appropriate by management to provide for known and inherent risks in the loan portfolio. The allowance is based upon an ongoing review of past loan loss experience, current economic conditions, the underlying collateral value securing the loans and other adverse situations that may . The Company ’s allowance for possible loan losses consists of two The allowances established for probable losses on specific loans are based on a regular analysis and ev aluation of problem loans. Loans are classified based on an internal credit risk rating process that evaluates, among other things: (i) the obligor’s ability to repay; (ii) the underlying collateral, if any; and (iii) the economic environment and industry in which the borrower operates. 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 payments of principal or 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. Smaller balance homogeneous loans are evaluated for impairment in total. Such loans include residential first one four not 90 . The general component of the allowance for loan losses is based on historical loan loss experience, general economic conditions and other qualitative risk factors both internal and external to the Company. The general component is determined by evaluating, among other things: (i) actual charge offs; (ii) the experience, ability and effectiveness of the Company’s lending management and staff; (iii) the effectiveness of the Company’s loan policies, procedures and internal controls; (iv) changes in asset quality; (v) changes in loan portfolio volume; (vi) the composition and concentrations of credit; (vii) the impact of competition on loan structuring and pricing; (viii) the effectiveness of the internal audit loan review function; (ix) the impact of environmental risks on portfolio risks; and ( x one |
Finance, Loan and Lease Receivables, Held-for-sale, Policy [Policy Text Block] | Loans held for sale : Loans held for sale are the loans the Banks have the intent to sell in the foreseeable future. They are carried at the lower of aggregate cost or fair value. Net unrealized losses, if any, are recognized through a valuation allowance by charges to income. Gains and losses on sales of loans are determined by the difference between the sale proceeds and the carrying value of the loans, recognized at settlement date and recorded as noninterest income |
Property, Plant and Equipment, Policy [Policy Text Block] | Bank p remises and equipment : Premises and equipment are stated at cost less accumulated depreciation. Depreciation expense is computed using straight-line and accelerated methods over the estimated useful lives of the respective assets. Depreciable lives range from 3 7 15 39 |
Other Real Estate Owned, Policy [Policy Text Block] | Other real estate owned : Real estate properties acquired through or in lieu of foreclosure are initially recorded at the fair value less estimated selling cost at the date of foreclosure. Any write-downs based on the asset’s fair value at the date of acquisition are charged to the allowance for loan losses. Costs of significant property improvements are capitalized, whereas costs relating to holding property are expensed. The portion of interest costs relating to development of real estate is capitalized. Valuations are periodically performed by management and property held for sale is carried at the lower of the new cost basis or fair value less cost to sell and any subsequent write-downs are charged to operations. Impairment losses on property to be held and used are measured as the amount by which the carrying amount of a property exceeds its fair value less costs to sell. This evaluation is inherently subjective and requires estimates that are susceptible to significant revisions as more information becomes available. |
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block] | Goodwill and other intangible assets: Goodwill represents the excess of cost over fair value of net assets acquired. Goodwill resulting from acquisitions is not not two second . Significant judgment is applied when goodwill is assessed for impairment. This judgment includes developing cash flow projections, selecting approp riate discount rates, identifying relevant market comparables, incorporating general economic and market conditions and selecting an appropriate control premium. At December 31, 2017, not . The only other significant intangible asset is the core deposit intangible asset. The core deposit intangible asset is determined to have a definite life a nd is amortized over the estimated useful life. The core deposit intangible asset is a customer based relationship valuation attributed to the expectation of a lower net cost of these deposits versus alternative sources of funds. The core deposit intangible asset and other long-lived assets are reviewed for impairment whenever events occur or circumstances indicate that the carrying amount may not |
Trust Department Assets, Policy [Policy Text Block] | Wealth management department assets : Property held for customers in fiduciary or agency capacities are not not |
Advertising Costs, Policy [Policy Text Block] | Advertising costs: Advertising costs are expensed as incurred |
Income Tax, Policy [Policy Text Block] | Income taxes : Deferred income taxes are provided on temporary differences between financial statement and income tax reporting. Temporary differences are differences between the amounts of assets and liabilities reported for financial statement purposes and their tax bases. Deferred tax assets are recognized for temporary differences that will be deductible in future years’ tax returns and for operating loss and tax credit carry forwards. Deferred tax assets are reduced by a valuation allowance if it is deemed more likely than not not not 50 . The Company files a consolidated federal income tax return, with each entity computing its taxes on a separate company basis. For state tax purposes, the Banks file franchise tax returns, while the Parent Company files a corporate income tax return . |
Comprehensive Income, Policy [Policy Text Block] | Comprehensive income : Accounting principles generally require that recognized revenue, expenses, gains and losses be included in net income. Certain changes in assets and liabilities, such as unrealized gains and losses on securities available-for-sale, are reported as accumulated other comprehensive income, a separate component of the stockholders’ equity section of the consolidated balance sheet, and such items, along with net income, are components of the statement of comprehensive income. Gains and losses on securities available-for-sale are reclassified to net income as the gains or losses are realized upon sale of the securities. Other-than-temporary impairment charges are reclassified to net income at the time of the charge |
Off-Balance-Sheet Credit Exposure, Policy [Policy Text Block] | Financial instruments with off-balance-sheet risk : The Company, in the normal course of business, makes commitments to make loans which are not 14 |
Transfers and Servicing of Financial Assets, Transfers of Financial Assets, Aggregation, Policy [Policy Text Block] | Transfers of financial assets and participating interests : Transfers of an entire financial asset or a participating interest in an entire financial asset are accounted for as sales when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when ( 1 2 3 not . The transfer of a participating interest in an entire financial asset must also meet the definition of a participating interest. A participating interest in a financial asset has all of the following characteristics: ( 1 2 3 4 no |
Earnings Per Share, Policy [Policy Text Block] | Earnings per share: Basic earnings per share computations for the years ended December 31, 2017, 2016 2015, no . The following information was used in the computation of basic earnings per share (EPS) for the years ended December 31, 2017, 2016, 2015 . 201 7 201 6 201 5 Basic earning per share computation : Net incom e $ 13,697,189 $ 15,734,776 $ 15,014,651 Weighted average common shares outstandin g 9,310,913 9,310,913 9,310,913 Basic EPS $ 1.47 $ 1.69 $ 1.61 |
Reclassification, Policy [Policy Text Block] | Reclassifications: Certain reclassifications have been made to the prior consolidated financial statements to conform to the current period presentation. These reclassifications had no |
New Accounting Pronouncements, Policy [Policy Text Block] | New and Pending Accounting Pronouncements: In January 2016, No. 2016 01, 825 10 Recognition and Measurement of Financial Assets and Financial Liabilities. December 15, 2017, not In February 2016, No. 2016 02, Leases (Topic 842 12 December 15, 2018. not In June 2016, No. 2016 13, 326 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. In May 2014, 2014 09, 606 Summary and Amendments that Create Revenue from Contracts with Customers (Topic 606 340 40 605, December 15, 2017. January 1, 2018. not not not not . In January 2017, 20 17 04, 350 Simplifying the Test for Goodwill Impairment 2 December 15, 2019, January 1, 2017. not . In February 2018, 2018 02, 220 Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. 21 December 15, 2018, first 2018 not . |
Note 1 - Summary of Significa29
Note 1 - Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | 201 7 201 6 201 5 Basic earning per share computation : Net incom e $ 13,697,189 $ 15,734,776 $ 15,014,651 Weighted average common shares outstandin g 9,310,913 9,310,913 9,310,913 Basic EPS $ 1.47 $ 1.69 $ 1.61 |
Note 3 - Debt and Equity Secu30
Note 3 - Debt and Equity Securities (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | Gros s Gros s Amortize d Unrealize d Unrealize d Estimate d Cos t Gain s Losse s Fair Valu e 2017 : U.S. government treasuries $ 6,413 $ 2 $ (48 ) $ 6,367 U.S. government agencie s 111,900 136 (773 ) 111,263 U.S. government mortgage-backed securitie s 81,685 422 (327 ) 81,780 State and political subdivision s 237,349 1,233 (1,169 ) 237,413 Corporate bond s 58,647 206 (389 ) 58,464 Equity securities, othe r 3,036 20 - 3,056 $ 499,030 $ 2,019 $ (2,706 ) $ 498,343 Gros s Gros s Amortize d Unrealize d Unrealize d Estimate d Cos t Gain s Losse s Fair Valu e 2016 : U.S. government treasurie s $ 4,396 $ 18 $ (46 ) $ 4,368 U.S. government agencie s 110,372 540 (703 ) 110,209 U.S. government mortgage-backed securitie s 82,279 1,018 (439 ) 82,858 St ate and political subdivisions 265,204 1,660 (2,416 ) 264,448 Corporate bond s 51,731 147 (694 ) 51,184 Equity securities, othe r 3,013 - - 3,013 $ 516,995 $ 3,383 $ (4,298 ) $ 516,080 |
Investments Classified by Contractual Maturity Date [Table Text Block] | Amortize d Estimate d Cos t Fair Valu e Due in one year or les s $ 42,105 $ 42,174 Due after one year through five year s 279,659 279,705 Due after five years through ten year s 154,967 154,132 Due after ten year s 19,263 19,276 495,994 495,287 Equity securitie s 3,036 3,056 $ 499,030 $ 498,343 |
Realized Gain (Loss) on Investments [Table Text Block] | 201 7 201 6 201 5 Proceeds from sales of securities available-for-sal e $ 14,025 $ 25,143 $ 25,032 Gross realized gains on securities available-for-sal e 540 430 911 Gross realized losses on securities available-for-sal e 35 6 23 Tax provision applicable to net realized gains on securities available-for-sale 187 157 331 |
Schedule of Unrealized Loss on Investments [Table Text Block] | 2017 : Less than 12 Month s 12 Months or Mor e Tota l Estimate d Gros s Estimate d Gros s Estimate d Gros s Fai r Unrealize d Fai r Unrealize d Fai r Unrealize d Valu e Losse s Valu e Losse s Valu e Losse s Securities available for sale : U.S. government treasurie s $ 4,894 $ (48 ) $ - $ - $ 4,894 $ (48 ) U.S. government agencie s 73,953 (549 ) 10,168 (224 ) 84,121 (773 ) U.S. government mortgage-backed securitie s 39,565 (245 ) 5,344 (82 ) 44,909 (327 ) State and political subdivision s 89,904 (703 ) 16,631 (466 ) 106,535 (1,169 ) Corporate bond s 29,808 (198 ) 6,709 (191 ) 36,517 (389 ) $ 238,124 $ (1,743 ) $ 38,852 $ (963 ) $ 276,976 $ (2,706 ) 2016 : Less than 12 Month s 12 Months or Mor e Tota l Estimate d Gros s Estimate d Gros s Estimate d Gros s Fai r Unrealize d Fai r Unrealize d Fai r Unrealize d Valu e Losse s Valu e Losse s Valu e Losse s Securities available for sale : U.S. government treasuries $ 2,893 $ (46 ) $ - $ - $ 2,893 $ (46 ) U.S. government agencie s 48,225 (703 ) - - 48,225 (703 ) U.S. government mortgage-backed securitie s 33,753 (439 ) - - 33,753 (439 ) State and political subdivisions 125,558 (2,226 ) 6,512 (190 ) 132,070 (2,416 ) Corporate bond s 35,703 (694 ) - - 35,703 (694 ) $ 246,132 $ (4,108 ) $ 6,512 $ (190 ) $ 252,644 $ (4,298 ) |
Note 4 - Loans Receivable and31
Note 4 - Loans Receivable and Credit Disclosures (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Composition of Loans Receivable [Table Text Block] | 201 7 201 6 Real estate - constructio n $ 50,309 $ 61,042 Real estate - 1 to 4 family residentia l 146,258 149,507 Real estate - commercia l 350,626 315,702 Real estate - agricultura l 81,790 73,032 Commercia l 73,816 74,378 Agricultura l 69,806 76,994 Consumer and othe r 10,345 12,130 782,950 762,785 Less : Allowance for loan losse s (11,321 ) (10,507 ) Deferred loan fee s (79 ) (96 ) $ 771,550 $ 752,182 |
Schedule of Allowance for Loan Losses [Table Text Block] | 201 7 201 6 201 5 Balance, beginnin g $ 10,507 $ 9,988 $ 8,838 Provision for loan losse s 1,520 524 1,099 Recoveries of loans charged-of f 32 127 120 Loans charged-of f (738 ) (132 ) (69 ) Balance, endin g $ 11,321 $ 10,507 $ 9,988 |
Allowance for Credit Losses on Financing Receivables [Table Text Block] | 2017 : 1-4 Family Constructio n Residentia l Commercia l Agricultura l Consumer Real Estat e Real Estat e Real Estat e Real Estat e Commercia l Agricultura l and Othe r Tota l Balance, beginnin g $ 908 $ 1,711 $ 3,960 $ 861 $ 1,728 $ 1,216 $ 123 $ 10,507 Provision (credit) for loan losse s (112 ) 1 774 136 691 (45 ) 75 1,520 Recoveries of loans charged-of f - 11 - - 7 - 14 32 Loans charged-of f - (7 ) - - (687 ) - (44 ) (738 ) Balance, endin g $ 796 $ 1,716 $ 4,734 $ 997 $ 1,739 $ 1,171 $ 168 $ 11,321 2016 : 1-4 Family Constructio n Residentia l Commercia l Agricultura l Consumer Real Estat e Real Estat e Real Estat e Real Estat e Commercia l Agricultura l and Othe r Tota l Balance, beginnin g $ 999 $ 1,806 $ 3,557 $ 760 $ 1,371 $ 1,256 $ 239 $ 9,988 Provision (credit) for loan losse s (121 ) (85 ) 403 101 352 (40 ) (86 ) 524 Recoveries of loans charged-of f 30 5 - - 83 - 9 127 Loans charged-of f - (15 ) - - (78 ) - (39 ) (132 ) Balance, endin g $ 908 $ 1,711 $ 3,960 $ 861 $ 1,728 $ 1,216 $ 123 $ 10,507 2015 : 1-4 Family Constructio n Residentia l Commercia l Agricultura l Consumer Real Estat e Real Estat e Real Estat e Real Estat e Commercia l Agricultura l and Othe r Tota l Balance, beginnin g $ 495 $ 1,648 $ 3,214 $ 737 $ 1,247 $ 1,312 $ 185 $ 8,838 Provision (credit) for loan losse s 454 157 339 23 124 (45 ) 47 1,099 Recoveries of loans charged-of f 50 26 4 - - 28 12 120 Loans charged-of f - (25 ) - - - (39 ) (5 ) (69 ) Balance, endin g $ 999 $ 1,806 $ 3,557 $ 760 $ 1,371 $ 1,256 $ 239 $ 9,988 2017 : 1-4 Family Constructio n Residentia l Commercia l Agricultura l Consumer Real Estat e Real Estat e Real Estat e Real Estat e Commercia l Agricultura l and Othe r Tota l Ending balance: Individually evaluated for impairmen t $ - $ 42 $ 115 $ - $ 607 $ - $ 47 $ 811 Ending balance: Collectively evaluated for impairment 796 1,674 4,619 997 1,132 1,171 121 10,510 Ending balanc e $ 796 $ 1,716 $ 4,734 $ 997 $ 1,739 $ 1,171 $ 168 $ 11,321 2016 : 1-4 Family Constructio n Residentia l Commercia l Agricultura l Consumer Real Estat e Real Estat e Real Estat e Real Estat e Commercia l Agricultura l and Othe r Tota l Ending balance: Individually evaluated for impairment $ - $ 76 $ - $ - $ 644 $ - $ - $ 720 Ending balance: Collectively evaluated for impairmen t 908 1,635 3,960 861 1,084 1,216 123 9,787 Ending balanc e $ 908 $ 1,711 $ 3,960 $ 861 $ 1,728 $ 1,216 $ 123 $ 10,507 2017 : 1-4 Family Constructio n Residentia l Commercia l Agricultura l Consumer Real Estat e Real Estat e Real Estat e Real Estat e Commercia l Agricultura l and Othe r Tota l Ending balance: Individually evaluated for impairmen t $ - $ 689 $ 901 $ - $ 3,140 $ - $ 80 $ 4,810 Ending balance: Collectively evaluated for impairmen t 50,309 145,569 349,725 81,790 70,676 69,806 10,265 778,140 Ending balanc e $ 50,309 $ 146,258 $ 350,626 $ 81,790 $ 73,816 $ 69,806 $ 10,345 $ 782,950 2016 : 1-4 Family Constructio n Residentia l Commercia l Agricultura l Consumer Real Estat e Real Estat e Real Estat e Real Estat e Commercia l Agricultura l and Othe r Tota l Ending balance: Individually evaluated for impairmen t $ - $ 660 $ 399 $ - $ 3,942 $ - $ 76 $ 5,077 Ending balance: Collectively evaluated for impairment 61,042 148,847 315,303 73,032 70,436 76,994 12,054 757,708 Ending balanc e $ 61,042 $ 149,507 $ 315,702 $ 73,032 $ 74,378 $ 76,994 $ 12,130 $ 762,785 |
Financing Receivable Credit Quality Indicators [Table Text Block] | 2017 : Constructio n Commercia l Agricultura l Real Estat e Real Estat e Real Estat e Commercia l Agricultura l Tota l Pas s $ 47,726 $ 319,178 $ 60,301 $ 59,535 $ 45,816 $ 532,556 Watc h 2,583 27,528 20,114 9,628 22,640 82,493 Special Mentio n - 184 - - - 184 Substandar d - 2,835 1,375 1,513 1,350 7,073 Substandard-Impaire d - 901 - 3,140 - 4,041 $ 50,309 $ 350,626 $ 81,790 $ 73,816 $ 69,806 $ 626,347 2016 : Constructio n Commercia l Agricultura l Real Estat e Real Estat e Real Estat e Commercia l Agricultura l Tota l Pas s $ 57,420 $ 288,107 $ 51,720 $ 59,506 $ 57,415 $ 514,168 Watc h 3,245 22,833 15,251 9,512 18,938 69,779 Special Mentio n - 204 4,228 96 75 4,603 Substandar d 377 4,159 1,833 1,322 566 8,257 Substandard-Impaire d - 399 - 3,942 - 4,341 $ 61,042 $ 315,702 $ 73,032 $ 74,378 $ 76,994 $ 601,148 |
Credit Risk Profile Based on Payment Activity on Disaggregated Basis [Table Text Block] | 2017 : 1-4 Family Residentia l Consumer Real Estat e and Othe r Tota l Performin g $ 145,551 $ 10,264 $ 155,815 Non-performin g 707 81 788 $ 146,258 $ 10,345 $ 156,603 2016 : 1-4 Family Residentia l Consumer Real Estat e and Othe r Tota l Performin g $ 148,828 $ 12,051 $ 160,879 Non-performin g 679 79 758 $ 149,507 $ 12,130 $ 161,637 |
Impaired Financing Receivables [Table Text Block] | 201 7 : Unpai d Averag e Interest Recorded Principa l Relate d Recorde d Income Investmen t Balanc e Allowanc e Investmen t Recognize d With no specific reserve recorded : Real estate - constructio n $ - $ - $ - $ - $ - Real estate - 1 to 4 family residentia l 572 677 - 542 30 Real estate - commercia l 671 1,353 - 652 - Real estate - agricultura l - - - - - Commercia l 125 148 - 1,190 4 Agricultura l - - - - - Consumer and othe r 25 44 - 53 - Total loans with no specific reserve : 1,393 2,222 - 2,437 34 With an allowance recorded : Real estate - construction - - - 13 2 Real estate - 1 to 4 family residentia l 117 180 42 153 - Real estate - commercia l 230 230 115 46 - Real estate - agr icultural - - - - - Commercia l 3,015 3,336 607 2,357 - Agricultura l - - - - - Consumer and othe r 55 43 47 23 1 Total loans with specific reserve : 3,417 3,789 811 2,592 3 Tota l Real estate - constructio n - - - 13 2 Real estate - 1 to 4 family residentia l 689 857 42 695 30 Real estate - commercia l 901 1,583 115 698 - Real estate - agricultura l - - - - - Commercia l 3,140 3,484 607 3,547 4 Agricultura l - - - - - Consumer and othe r 80 87 47 76 1 $ 4,810 $ 6,011 $ 811 $ 5,029 $ 37 2016 : Unpai d Averag e Interest Recorded Principa l Relate d Recorde d Income Investmen t Balanc e Allowanc e Investmen t Recognize d With no specific reserve recorded : Real estate - constructio n $ - $ - $ - $ - $ 31 Real estate - 1 to 4 family residentia l 452 473 - 440 1 Real estate - commercia l 399 1,025 - 452 26 Real estate - agricultura l - - - - - Commercia l 2,747 2,672 - 580 - Agricultura l - - - 9 2 Consumer and othe r 76 81 - 68 6 Total loans with no specific reserve : 3,674 4,251 - 1,549 66 With an allowance recorded : Real estate - constructio n - - - - - Real estate - 1 to 4 family residentia l 208 360 76 572 5 Real estate - commercia l - - - 20 - Real estate - agricultura l - - - - - Commercia l 1,195 1,286 644 824 1 Agricultura l - - - - - Consumer and othe r - - - - - Total loans with specific reserve : 1,403 1,646 720 1,416 6 Tota l Real estate - constructio n - - - - 31 Real estate - 1 to 4 family residentia l 660 833 76 1,012 6 Real estate - commercia l 399 1,025 - 472 26 Re al estate - agricultural - - - - - Commercia l 3,942 3,958 644 1,404 1 Agricultura l - - - 9 2 Consumer and othe r 76 81 - 68 6 $ 5,077 $ 5,897 $ 720 $ 2,965 $ 72 2015 : Unpai d Averag e Interest Recorded Principa l Relate d Recorde d Income Investmen t Balanc e Allowanc e Investmen t Recognize d With no specific reserve recorded : Real estate - constructio n $ - $ 31 $ - $ 97 $ 129 Real estate - 1 to 4 family residentia l 296 304 - 188 - Real estate - commercial 456 1,030 - 554 29 Real estate - agricultura l - - - - - Commercia l 11 17 - 223 3 Agricultura l 11 13 - 13 - Consumer and othe r 2 2 - 4 2 Total loans with no specific reserve : 776 1,397 - 1,079 163 With an allowance recorded : Real estate - constructio n - - - - - Real estate - 1 to 4 family residentia l 754 891 273 768 - Real estate - commercia l 102 111 2 135 - Real estate - agricultura l - - - - - Commercia l 186 262 164 122 - Agricultura l - - - - - Consumer and othe r - - - - - Total loans with specific reserve : 1,042 1,264 439 1,025 - Tota l Real estate - constructio n - 31 - 97 129 Real estate - 1 to 4 family residentia l 1,050 1,195 273 956 - Real estate - commercia l 558 1,141 2 689 29 Real estate - agricultural - - - - - Commercia l 197 279 164 345 3 Agricultura l 11 13 - 13 - Consumer and othe r 2 2 - 4 2 $ 1,818 $ 2,661 $ 439 $ 2,104 $ 163 |
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | 201 7 201 6 Pre-Modificatio n Post-Modificatio n Pre-Modificatio n Post-Modificatio n Outstandin g Outstandin g Outstandin g Outstandin g Number o f Recorde d Recorde d Number o f Recorde d Recorde d Contract s Investmen t Investmen t Contract s Investmen t Investmen t Real estate - constructio n - $ - $ - - $ - $ - Real estate - 1 to 4 family residentia l - - - 1 149 149 Real estate - commercia l - - - - - - Real estate - agricultura l - - - - - - Commercia l 2 93 99 11 3,273 3,273 Agricultura l - - - - - - Consumer and othe r - - - 3 70 70 2 $ 93 $ 99 15 $ 3,492 $ 3,492 |
Past Due Financing Receivables [Table Text Block] | 30-89 90 Days 90 Days Day s or Greate r Tota l or Greate r Past Du e Past Du e Past Du e Curren t Tota l Accruin g Real estate - constructio n $ 159 $ - $ 159 $ 50,150 $ 50,309 $ - Real estate - 1 to 4 family residentia l 940 414 1,354 144,904 146,258 18 Real estate - commercia l 363 629 992 349,634 350,626 - Real estate - agricultura l 655 - 655 81,135 81,790 - Commercia l 275 418 693 73,123 73,816 - Agricultura l 77 - 77 69,729 69,806 - Consumer and othe r 77 38 115 10,230 10,345 - $ 2,546 $ 1,499 $ 4,045 $ 778,905 $ 782,950 $ 18 2016 : 30-89 90 Day s 90 Days Day s or Greate r Tota l or Greate r Past Du e Past Du e Past Du e Curren t Tota l Accruin g Real estate - constructio n $ - $ - $ - $ 61,042 $ 61,042 $ - Real estate - 1 to 4 family residentia l 1,577 35 1,612 147,895 149,507 19 Real estate - commercia l 1,420 - 1,420 314,282 315,702 - Real estate - agricultura l - - - 73,032 73,032 - Commercia l 84 747 831 73,547 74,378 - Agricultura l - - - 76,994 76,994 - Consumer and othe r 36 3 39 12,091 12,130 3 $ 3,117 $ 785 $ 3,902 $ 758,883 $ 762,785 $ 22 |
Schedule of Loan Transactions With Related Parties [Table Text Block] | 201 7 201 6 Balance, beginning of year $ 10,353 $ 9,049 New loans 11,264 13,218 Repayments (13,018 ) (11,931 ) Change in status 10 17 Balance, end of year $ 8,609 $ 10,353 |
Note 5 - Bank Premises and Eq32
Note 5 - Bank Premises and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | 201 7 201 6 Lan d $ 3,773 $ 3,798 Buildings and improvement s 18,841 18,979 Furniture and equipmen t 6,489 6,379 29,103 29,156 Less accumulated depreciatio n 13,704 13,107 $ 15,399 $ 16,049 |
Note 6 - Other Real Estate Ow33
Note 6 - Other Real Estate Owned (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Other Real Estate Owned Roll Forward [Table Text Block] | 201 7 201 6 Balance, beginning of yea r $ 546 $ 1,250 Transfer of loan s 17 157 Impairmen t - (28 ) Net proceeds from sal e (192 ) (1,052 ) Gain on sale, ne t 15 219 Balance, end of yea r $ 386 $ 546 |
Other Real Estate, Roll Forward [Table Text Block] | 201 7 201 6 Construction and land developmen t $ 320 $ 320 1 to 4 family residential house s 66 226 $ 386 $ 546 |
Note 8 - Intangible Assets (Tab
Note 8 - Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Finite-lived Intangible Assets Amortization Expense [Table Text Block] | 201 7 201 6 Gros s Accumulate d Gros s Accumulate d Amoun t Amortizatio n Amoun t Amortizatio n Core deposit intangible asse t $ 2,518 $ 1,861 $ 2,518 $ 1,563 Customer lis t 520 86 412 14 Tota l $ 3,038 $ 1,947 $ 2,930 $ 1,577 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | 201 8 327 201 9 203 202 0 147 202 1 146 202 2 146 Afte r 122 $ 1,091 |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | 201 7 201 6 201 5 Beginning intangibles, ne t $ 1,353 $ 1,309 $ 1,730 Acquisitio n 108 412 - Amortizatio n (370 ) (368 ) (421 ) Ending intangible asset, ne t $ 1,091 $ 1,353 $ 1,309 |
Note 9 - Deposits (Tables)
Note 9 - Deposits (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Maturities of Time Deposits [Table Text Block] | 201 8 $ 105,187 201 9 47,169 202 0 23,923 202 1 11,884 202 2 6,872 $ 195,035 |
Schedule of Interest Expense on Deposits [Table Text Block] | 201 7 201 6 201 5 NOW account s $ 1,161 $ 585 $ 469 Savings and money marke t 1,385 755 674 Time deposit s 1,893 1,734 1,876 $ 4,439 $ 3,074 $ 3,019 |
Note 10 - Pledged Collateral 36
Note 10 - Pledged Collateral Related to Securities Sold Under Repurchase Agreements (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Financial Instruments Owned and Pledged as Collateral [Table Text Block] | 201 7 201 6 Remaining Contractual Maturity of the Agreement s Overnigh t Greater tha n Total Overnigh t Greater tha n Total 90 day s 90 day s Securities sold under agreements to repurchase : U.S. government treasurie s $ 1,474 $ - $ 1,474 $ 1,476 $ - $ 1,476 U.S. government agencie s 47,323 - 47,323 46,557 - 46,557 U.S. government mortgage-backed securitie s 22,824 - 22,824 30,376 - 30,376 Tota l $ 71,621 $ - $ 71,621 $ 78,409 $ - $ 78,409 Term repurchase agreements : U.S. government agencie s $ - $ 14,986 $ 14,986 $ - $ 15,068 $ 15,068 U.S. government mortgage-backed securitie s - - - - 354 354 Tota l $ - $ 14,986 $ 14,986 $ - $ 15,422 $ 15,422 Total pledged collatera l $ 71,621 $ 14,986 $ 86,607 $ 78,409 $ 15,422 $ 93,831 |
Note 11 - Borrowings (Tables)
Note 11 - Borrowings (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Maturities of Federal Home Loan Bank Advances and Long Term Debt [Table Text Block] | Weighted Averag e Amoun t Interest Rat e Feature s FHLB advances maturing in : 2018 11,500 2.94 % 2020 2,000 1.58 % Total FHLB advance s $ 13,500 2.73 % Other borrowings maturing in : 2018 $ 13,000 3.62 % $7,000,000 term repurchase agreements callable quarterly in 2018 Total other borrowing s $ 13,000 3.62 % Total FHLB and other borrowing s $ 26,500 3.17 % |
Note 13 - Income Taxes (Tables)
Note 13 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | 201 7 201 6 201 5 Federal : Curren t $ 5,708 $ 5,370 $ 3,119 Deferre d (305 ) (43 ) 1,753 Deferred due to enacted changes in tax rate s 1,190 - - 6,593 5,327 4,872 State : Curren t 1,018 1,261 749 Deferre d (26 ) 217 186 992 1,478 935 Income tax expens e $ 7,585 $ 6,805 $ 5,807 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | 201 7 201 6 201 5 Income taxes at 35% federal tax rat e $ 7,449 $ 7,889 $ 7,287 Increase (decrease) resulting from : Tax-exempt interest and dividend s (1,737 ) (1,943 ) (2,046 ) State taxes, net of federal tax benefi t 717 729 506 Effect of change in deferred tax asset related to enacte d s 1,190 - - Othe r (34 ) 130 60 Total income tax expense $ 7,585 $ 6,805 $ 5,807 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | 201 7 201 6 Deferred tax assets : Allowance for loan losse s $ 2,776 $ 3,823 Net unrealized losses on securities available-for-sal e 171 338 Other real estate owne d 68 116 Accrued vacatio n 168 251 State alternative minimum tax carryforward 226 226 Other intangible asset s 155 232 Off balance sheet reserv e 126 191 Other deferred tax asset s 342 228 4,032 5,405 Deferred tax liabilities : Bank premises and equipmen t (643 ) (937 ) Goodwil l (604 ) (736 ) Other deferred tax liabilitie s (16 ) (20 ) (1,263 ) (1,693 ) Valuation allowanc e (226 ) (226 ) Net deferred tax asse t $ 2,543 $ 3,486 |
Note 14 - Commitments, Contin39
Note 14 - Commitments, Contingencies and Concentrations of Credit Risk (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Fair Value, Off-balance Sheet Risks [Table Text Block] | 2017 2016 Commitments to extend credi t $ 153,294 $ 164,066 Standby letters of credi t 3,761 5,309 $ 157,055 $ 169,375 |
Note 15 - Regulatory Matters (T
Note 15 - Regulatory Matters (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | To Be Wel l Capitalized Unde r For Capita l Prompt Correctiv e Actua l Adequacy Purposes * Action Provision s Amoun t Rati o Amoun t Rati o Amoun t Rati o As of December 31, 2017 : Total capital (to risk - : Consolidate d $ 176,306 17.6 % $ 92,500 9.25 % N/A N/A Boone Bank & Trus t 15,344 16.5 8,613 9.25 $ 9,312 10.0 % First National Ban k 81,390 15.5 48,466 9.25 52,396 10.0 Reliance State Ban k 26,982 15.3 16,324 9.25 17,648 10.0 State Bank & Trus t 20,064 15.8 11,738 9.25 12,690 10.0 United Bank & Trus t 14,833 19.9 6,878 9.25 7,436 10.0 Tier 1 capital (to risk - : Consolidate d $ 164,467 16.4 % $ 72,500 7.25 % N/A N/A Boone Bank & Trus t 14,453 15.5 6,751 7.25 $ 7,449 8.0 % First National Ban k 75,404 14.4 37,987 7.25 41,917 8.0 Reliance State Ban k 24,775 14.0 12,795 7.25 14,118 8.0 State Bank & Trust 18,475 14.6 9,200 7.25 10,152 8.0 United Bank & Trus t 14,012 18.8 5,391 7.25 5,649 8.0 Tier 1 capital (to average - : Consolidate d $ 164,467 12.1 % $ 54,264 4.00 % N/A N/A Boone Bank & Trus t 14,453 10.4 5,568 4.00 $ 6,960 5.0 % First National Ban k 75,404 10.1 29,910 4.00 37,387 5.0 Reliance State Ban k 24,775 11.6 8,553 4.00 10,691 5.0 State Bank & Trus t 18,475 11.8 6,284 4.00 7,856 5.0 United Bank & Trus t 14,012 12.8 4,362 4.00 5,453 5.0 Common equity tier 1 capita l (to risk-weighted assets): Consolidate d $ 164,467 16.4 % $ 57,500 5.75 % N/A N/A Boone Bank & Trus t 14,453 15.5 5,354 5.75 $ 6,053 6.5 % First National Ban k 75,404 14.4 30,128 5.75 34,058 6.5 Reliance State Ban k 24,775 14.0 10,147 5.75 11,471 6.5 State Bank & Trus t 18,475 14.6 7,297 5.75 8,248 6.5 United Bank & Trus t 14,012 18.8 4,276 5.75 4,833 6.5 To Be Wel l Capitalized Unde r For Capita l Prompt Correctiv e Actua l Adequacy Purposes * Action Provision s Amoun t Rati o Amoun t Rati o Amoun t Rati o As of December 31, 2016 : Total capital (to risk - : Consolidate d $ 170,358 17.2 % $ 85,241 8.625 % N/A N/A Boone Bank & Trus t 15,044 17.2 7,534 8.625 $ 8,735 10.0 % First National Ban k 78,322 15.3 44,279 8.625 51,338 10.0 Reliance State Ban k 26,095 14.1 15,927 8.625 18,466 10.0 State Bank & Trus t 20,170 16.4 10,590 8.625 12,278 10.0 United Bank & Trus t 14,897 19.2 6,684 8.625 7,749 10.0 Tier 1 capital (to risk - : Consolidate d $ 159,325 16.1 % $ 65,475 6.625 % N/A N/A Boone Bank & Trus t 14,132 16.2 5,787 6.625 $ 6,988 8.0 % First National Ban k 72,750 14.2 34,011 6.625 41,070 8.0 Reliance State Ban k 24,139 13.1 12,234 6.625 14,773 8.0 State Bank & Trust 18,633 15.2 8,134 6.625 9,822 8.0 United Bank & Trus t 14,078 18.2 5,134 6.625 6,199 8.0 Tier 1 capital (to average - : Consolidate d $ 159,325 12.0 % $ 53,316 4.000 % N/A N/A Boone Bank & Trus t 14,132 10.2 5,529 4.000 $ 6,911 5.0 % First National Ban k 72,750 10.0 29,077 4.000 36,347 5.0 Reliance State Ban k 24,139 11.5 8,374 4.000 10,467 5.0 State Bank & Trus t 18,633 11.6 6,449 4.000 8,061 5.0 United Bank & Trus t 14,078 12.5 4,523 4.000 5,654 5.0 Common equity tier 1 capita l (to risk-weighted assets): Consolidate d $ 159,325 16.1 % $ 50,650 5.125 % N/A N/A Boone Bank & Trus t 14,132 16.2 4,477 5.125 $ 5,678 6.5 % First National Ban k 72,750 14.2 26,311 5.125 33,370 6.5 Reliance State Ban k 24,139 13.1 9,464 5.125 12,003 6.5 State Bank & Trus t 18,633 15.2 6,292 5.125 7,981 6.5 United Bank & Trus t 14,078 18.2 3,972 5.125 5,037 6.5 |
Note 16 - Fair Value Measurem41
Note 16 - Fair Value Measurements (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | Descriptio n Tota l Level 1 Level 2 Level 3 201 7 U.S. government treasurie s $ 6,367 $ 6,367 $ - $ - U.S. government agencie s 111,263 - 111,263 - U.S. government mortgage-backed securitie s 81,780 - 81,780 - State and political subdivision s 237,413 - 237,413 - Corporate bond s 58,464 - 58,464 - Equity securities, othe r 3,056 34 3,022 - $ 498,343 $ 6,401 $ 491,942 $ - 201 6 U.S. government treasurie s $ 4,368 $ 4,368 $ - $ - U.S. government agencie s 110,209 - 110,209 - U.S. government mortgage-backed securitie s 82,858 - 82,858 - State and political subdivision s 264,448 - 264,448 - Corporate bond s 51,184 - 51,184 - Equity securities, othe r 3,013 - 3,013 - $ 516,080 $ 4,368 $ 511,712 $ - |
Fair Value Measurements, Nonrecurring [Table Text Block] | Descriptio n Tota l Level 1 Level 2 Level 3 201 7 Loan s $ 2,606 $ - $ - $ 2,606 Other real estate owne d 386 - - 386 Tota l $ 2,992 $ - $ - $ 2,992 201 6 Loan s $ 683 $ - $ - $ 683 Other real estate owne d 546 - - 546 Tota l $ 1,229 $ - $ - $ 1,229 |
Fair Value Inputs, Assets, Quantitative Information [Table Text Block] | 201 7 Fair Valu e Valuatio n Range of Unobservable Range Technique s Input s (Average ) Impaired Loan s $ 2,606 Evaluation of collatera l Estimation of valu e NM* Other real estate owne d $ 386 Appraisa l Appraisal adjustmen t 6% - 8% (7%) 201 6 Fair Valu e Valuatio n Range of Unobservable Range Technique s Input s (Average ) Impaired Loan s $ 683 Evaluation of collatera l Estimation of valu e NM* Other real estate owne d $ 546 Appraisa l Appraisal adjustmen t 6% - 10% (8%) |
Fair Value, by Balance Sheet Grouping [Table Text Block] | 201 7 201 6 Fair Valu e Estimate d Estimate d Hierarch y Carryin g Fai r Carryin g Fai r Leve l Amoun t Valu e Amoun t Valu e Financial assets : Cash and due from bank s Level 1 $ 26,398 $ 26,398 $ 29,478 $ 29,478 Interest bearing deposit s Level 1 43,022 43,022 31,737 31,737 Securities available-for-sal e See previous tabl e 498,343 498,343 516,080 516,080 Loans receivable, ne t Level 2 771,550 768,444 752,182 746,580 Loans held for sal e Level 2 - - 243 243 Accrued income r eceivable Level 1 8,382 8,382 7,769 7,769 Financial liabilities : Deposit s Level 2 $ 1,134,391 $ 1,134,468 $ 1,109,409 $ 1,110,211 Securities sold under agreements to repurchase Level 1 37,425 37,425 58,337 58,337 FHLB advance s Level 2 13,500 13,482 14,500 14,681 Other borrowing s Level 2 13,000 13,079 13,000 13,386 Accrued interest payabl e Level 1 477 477 408 408 |
Note 18 - Ames National Corpo42
Note 18 - Ames National Corporation (Parent Company Only) Financial Statements (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Condensed Balance Sheet [Table Text Block] | 201 7 201 6 ASSET S Cash and due from bank s $ 42 $ 21 Interest bearing deposits in bank s 13,846 11,160 Investment in bank subsidiarie s 153,647 149,962 Loans receivable, ne t 2,275 3,190 Premises and equipment, ne t 2,848 2,960 Accrued income receivabl e 6 10 Other real estate owne d 320 320 Other asset s 278 22 Total asset s $ 173,262 $ 167,645 LIABILITIE S Dividends payabl e $ 2,048 $ 1,955 Deferred income taxe s 70 193 Accrued expenses and other liabilitie s 390 392 Total liabilitie s 2,508 2,540 STOCKHOLDERS' EQUIT Y Common stoc k 18,622 18,622 Additional paid-in capita l 20,879 20,879 Retained earning s 131,685 126,181 Accumulated other comprehensive (loss ) (432 ) (577 ) Total stockholders' equit y 170,754 165,105 Total liabilities and stockholders' equit y $ 173,262 $ 167,645 |
Condensed Income Statement [Table Text Block] | 201 7 201 6 201 5 Operating income : Equity in net income of bank subsidiarie s $ 13,896 $ 15,994 $ 15,083 Interes t 151 192 195 Dividend s - - 28 Rental incom e 420 415 404 Gain on sale of other real estate owne d - 207 - Other incom e 1,844 1,769 1,737 Securities gain s - - 279 16,311 18,577 17,726 Credit for loan losse s (13 ) (153 ) (30 ) Operating income after credit for loan losse s 16,324 18,730 17,756 Operating expense s 2,914 2,789 2,776 Income before income taxe s 13,410 15,941 14,980 Income tax expense (benefit ) (287 ) 206 (35 ) Net incom e $ 13,697 $ 15,735 $ 15,015 |
Condensed Cash Flow Statement [Table Text Block] | 201 7 201 6 201 5 CASH FLOWS FROM OPERATING ACTIVITIE S Net incom e $ 13,697 $ 15,735 $ 15,015 Adjustments to reconcile net income to net cash : Depreciatio n 113 124 131 Credit for loan losse s (13 ) (153 ) (30 ) Provision for deferred income taxe s (123 ) 256 72 Securities gains, ne t - - (279 ) Gain on sale of other real estate owned - (207 ) - Equity in net income of bank subsidiarie s (13,896 ) (15,994 ) (15,083 ) Dividends received from bank subsidiaries 10,355 9,350 8,350 (Increase) decrease in accrued income receivabl e 5 2 (3 ) (Increase) decrease in other assets (248 ) 90 129 Increase (decrease) in accrued expense and other liabilitie s (9 ) 8 5 Net cash provided by operating activities 9,881 9,211 8,307 CASH FLOWS FROM INVESTING ACTIVITIE S Proceeds from sale of securities available-for-sal e - - 909 (Increase) in interest bearing deposits in bank s (2,686 ) (2,248 ) (1,296 ) Decrease in loan s 927 126 119 Purchase of other real estate owne d - - (739 ) Proceeds from the sale of other real estate owne d - 626 - Purchase of bank premises and equipmen t (1 ) - (33 ) Net cash used in investing activitie s (1,760 ) (1,496 ) (1,040 ) CASH FLOWS FROM FINANCING ACTIVITIE S Dividends pai d (8,100 ) (7,728 ) (7,263 ) Net cash used in financing activities (8,100 ) (7,728 ) (7,263 ) Net increase (decrease) in cash and cash equivalent s 21 (13 ) 4 CASH AND DUE FROM BANK S Beginnin g 21 34 30 Endin g $ 42 $ 21 $ 34 SUPPLEMENTAL DISCLOSURE OF CASH FLO W N Cash receipts for income taxe s $ 142 $ 171 $ 237 |
Note 19 - Selected Quarterly 43
Note 19 - Selected Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Quarterly Financial Information [Table Text Block] | 201 7 March 3 1 June 3 0 September 3 0 December 3 1 Total interest incom e $ 11,084 $ 11,471 $ 11,612 $ 11,628 Total interest expens e 1,201 1,405 1,461 1,514 Net interest incom e 9,883 10,066 10,151 10,114 Provision for loan losse s 398 767 57 298 Net interest income after provision for loan losse s 9,485 9,299 10,094 9,816 Noninterest incom e 2,081 2,025 1,860 1,976 Noninterest expens e 6,477 6,399 6,296 6,182 Income before income taxe s 5,089 4,925 5,658 5,610 Income tax expens e 1,479 1,453 1,730 2,923 Net incom e $ 3,610 $ 3,472 $ 3,928 $ 2,687 Basic and diluted earnings per common shar e $ 0.39 $ 0.37 $ 0.42 $ 0.29 201 6 March 3 1 June 3 0 September 3 0 December 3 1 Total interest incom e $ 10,849 $ 11,006 $ 11,078 $ 11,114 Total interest expens e 1,013 1,014 1,028 1,080 Net interest incom e 9,836 9,992 10,050 10,034 P rovision for loan losses 192 14 235 84 Net interest income after provision for loan losse s 9,644 9,978 9,815 9,950 Noninterest incom e 2,099 1,925 2,004 2,059 Noninterest expens e 6,435 6,121 6,112 6,267 Income before income taxe s 5,308 5,782 5,707 5,742 Income tax expens e 1,501 1,683 1,903 1,717 Net incom e $ 3,807 $ 4,099 $ 3,804 $ 4,025 Basic and diluted earnings per common shar e $ 0.41 $ 0.44 $ 0.41 $ 0.43 |
Note 1 - Summary of Significa44
Note 1 - Summary of Significant Accounting Policies (Details Textual) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017USD ($)shares | Dec. 31, 2016shares | Dec. 31, 2015shares | |
Number of Operating Segments | 1 | ||
Goodwill, Impairment Loss | $ | $ 0 | ||
Weighted Average Number Diluted Shares Outstanding Adjustment | shares | 0 | 0 | 0 |
Equipment [Member] | Minimum [Member] | |||
Property, Plant and Equipment, Useful Life | 3 years | ||
Equipment [Member] | Maximum [Member] | |||
Property, Plant and Equipment, Useful Life | 7 years | ||
Building [Member] | Minimum [Member] | |||
Property, Plant and Equipment, Useful Life | 15 years | ||
Building [Member] | Maximum [Member] | |||
Property, Plant and Equipment, Useful Life | 39 years |
Note 1 - Summary of Significa45
Note 1 - Summary of Significant Accounting Policies - Basic Earnings Per Share (EPS) (Details) - USD ($) | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Basic earning per share computation: | |||||||||||
Net income | $ 2,687,000 | $ 3,928,000 | $ 3,472,000 | $ 3,610,000 | $ 4,025,000 | $ 3,804,000 | $ 4,099,000 | $ 3,807,000 | $ 13,697,189 | $ 15,734,776 | $ 15,014,651 |
Weighted average common shares outstanding (in shares) | 9,310,913 | 9,310,913 | 9,310,913 | ||||||||
Basic EPS (in dollars per share) | $ 1.47 | $ 1.69 | $ 1.61 |
Note 2 - Concentrations and R46
Note 2 - Concentrations and Restrictions on Cash and Due from Banks and Interest Bearing Deposits in Financial Institutions (Details Textual) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Cash Reserve Requirements | $ 5,955,000 | $ 5,707,000 |
Deposits with Other Federal Home Loan Banks | $ 46,016,000 |
Note 3 - Debt and Equity Secu47
Note 3 - Debt and Equity Securities (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Available-for-sale Securities Pledged as Collateral | $ 171,129,000 | $ 177,234,000 | |
Other than Temporary Impairment Losses, Investments, Available-for-sale Securities | 0 | $ 0 | $ 0 |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax | $ 2,706,000 |
Note 3 - Debt and Equity Secu48
Note 3 - Debt and Equity Securities - Securities Available-for-sale (Details) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Debt and Equity securities, Amortized cost | $ 499,030,000 | $ 516,995,000 |
Gross unrealized gains | 2,019,000 | 3,383,000 |
Gross unrealized losses | (2,706,000) | (4,298,000) |
Estimated fair value | 498,342,864 | 516,079,506 |
US Treasury Securities [Member] | ||
Debt and Equity securities, Amortized cost | 6,413,000 | 4,396,000 |
Gross unrealized gains | 2,000 | 18,000 |
Gross unrealized losses | (48,000) | (46,000) |
Estimated fair value | 6,367,000 | 4,368,000 |
US Government Agencies Debt Securities [Member] | ||
Debt and Equity securities, Amortized cost | 111,900,000 | 110,372,000 |
Gross unrealized gains | 136,000 | 540,000 |
Gross unrealized losses | (773,000) | (703,000) |
Estimated fair value | 111,263,000 | 110,209,000 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Debt and Equity securities, Amortized cost | 81,685,000 | 82,279,000 |
Gross unrealized gains | 422,000 | 1,018,000 |
Gross unrealized losses | (327,000) | (439,000) |
Estimated fair value | 81,780,000 | 82,858,000 |
US States and Political Subdivisions Debt Securities [Member] | ||
Debt and Equity securities, Amortized cost | 237,349,000 | 265,204,000 |
Gross unrealized gains | 1,233,000 | 1,660,000 |
Gross unrealized losses | (1,169,000) | (2,416,000) |
Estimated fair value | 237,413,000 | 264,448,000 |
Corporate Debt Securities [Member] | ||
Debt and Equity securities, Amortized cost | 58,647,000 | 51,731,000 |
Gross unrealized gains | 206,000 | 147,000 |
Gross unrealized losses | (389,000) | (694,000) |
Estimated fair value | 58,464,000 | 51,184,000 |
Equity Securities, Other [Member] | ||
Debt and Equity securities, Amortized cost | 3,036,000 | 3,013,000 |
Gross unrealized gains | 20,000 | 0 |
Gross unrealized losses | 0 | 0 |
Estimated fair value | $ 3,056,000 | $ 3,013,000 |
Note 3 - Debt and Equity Secu49
Note 3 - Debt and Equity Securities - Debt Securities Available-for-sale (Details) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Due in one year or less, Amortized cost | $ 42,105,000 | |
Due in one year or less, Estimated fair value | 42,174,000 | |
Due after one year through five years, Amortized cost | 279,659,000 | |
Due after one year through five years, Estimated fair value | 279,705,000 | |
Due after five years through ten years, Amortized cost | 154,967,000 | |
Due after five years through ten years, Estimated fair value | 154,132,000 | |
Due after ten years, Amortized cost | 19,263,000 | |
Due after ten years, Estimated fair value | 19,276,000 | |
Debt securities, Amortized cost | 495,994,000 | |
Debt securities, Estimated fair value | 495,287,000 | |
Equity securities, Amortized cost | 3,036,000 | |
Equity securities, Estimated fair value | 3,056,000 | |
Debt and Equity securities, Amortized cost | 499,030,000 | $ 516,995,000 |
Securities available-for-sale | $ 498,342,864 | $ 516,079,506 |
Note 3 - Debt and Equity Secu50
Note 3 - Debt and Equity Securities - Proceeds, Gains and Losses From Securities Available-for-sale (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Proceeds from sales of securities available-for-sale | $ 14,025 | $ 25,143 | $ 25,032 |
Gross realized gains on securities available-for-sale | 540 | 430 | 911 |
Gross realized losses on securities available-for-sale | 35 | 6 | 23 |
Tax provision applicable to net realized gains on securities available-for-sale | $ 187 | $ 157 | $ 331 |
Note 3 - Debt and Equity Secu51
Note 3 - Debt and Equity Securities - Securities Available-for-sale Continuous Unrealized Loss Position (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Securities available for sale: | ||
Less than 12 months, estimated fair value | $ 238,124 | $ 246,132 |
Less than 12 months, unrealized losses | (1,743) | (4,108) |
12 months or more, estimated fair value | 38,852 | 6,512 |
12 months or more, unrealized losses | (963) | (190) |
Total estimated fair value | 276,976 | 252,644 |
Total unrealized losses | (2,706) | (4,298) |
US Treasury Securities [Member] | ||
Securities available for sale: | ||
Less than 12 months, estimated fair value | 4,894 | 2,893 |
Less than 12 months, unrealized losses | (48) | (46) |
12 months or more, estimated fair value | 0 | 0 |
12 months or more, unrealized losses | 0 | 0 |
Total estimated fair value | 4,894 | 2,893 |
Total unrealized losses | (48) | (46) |
US Government Agencies Debt Securities [Member] | ||
Securities available for sale: | ||
Less than 12 months, estimated fair value | 73,953 | 48,225 |
Less than 12 months, unrealized losses | (549) | (703) |
12 months or more, estimated fair value | 10,168 | 0 |
12 months or more, unrealized losses | (224) | 0 |
Total estimated fair value | 84,121 | 48,225 |
Total unrealized losses | (773) | (703) |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Securities available for sale: | ||
Less than 12 months, estimated fair value | 39,565 | 33,753 |
Less than 12 months, unrealized losses | (245) | (439) |
12 months or more, estimated fair value | 5,344 | 0 |
12 months or more, unrealized losses | (82) | 0 |
Total estimated fair value | 44,909 | 33,753 |
Total unrealized losses | (327) | (439) |
US States and Political Subdivisions Debt Securities [Member] | ||
Securities available for sale: | ||
Less than 12 months, estimated fair value | 89,904 | 125,558 |
Less than 12 months, unrealized losses | (703) | (2,226) |
12 months or more, estimated fair value | 16,631 | 6,512 |
12 months or more, unrealized losses | (466) | (190) |
Total estimated fair value | 106,535 | 132,070 |
Total unrealized losses | (1,169) | (2,416) |
Corporate Debt Securities [Member] | ||
Securities available for sale: | ||
Less than 12 months, estimated fair value | 29,808 | 35,703 |
Less than 12 months, unrealized losses | (198) | (694) |
12 months or more, estimated fair value | 6,709 | 0 |
12 months or more, unrealized losses | (191) | 0 |
Total estimated fair value | 36,517 | 35,703 |
Total unrealized losses | $ (389) | $ (694) |
Note 4 - Loans Receivable and52
Note 4 - Loans Receivable and Credit Disclosures (Details Textual) | 12 Months Ended | ||
Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | |
Percentage of Appraised Value or Purchase Price Entity Lend | 100.00% | ||
Performing Loan Range, Maximum | $ 100,000 | ||
Loans and Leases Receivable, Impaired, Interest Lost on Nonaccrual Loans | 379,000 | $ 272,000 | $ 162,000 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 4,810,000 | 5,077,000 | |
Financing Receivables, Impaired, Troubled Debt Restructuring, Write-down | 285,000 | 0 | |
Financing Receivable, Modifications, Recorded Investment | $ 2,984,000 | $ 3,672,000 | |
Financing Receivable, Modifications, Number of Contracts | 2 | 15 | |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 1 | 3 | |
Loans and Leases Receivable, Impaired, Commitment to Lend | $ 0 | ||
Family Residential Real Estate 1-4 [Member] | |||
Percentage of Loan to Value Ratios, Maximum | 90.00% | ||
Financing Receivable, Modifications, Number of Contracts | 0 | 1 | |
Family Residential Real Estate 1-4 [Member] | Payment Deferral [Member] | |||
Financing Receivable, Modifications, Number of Contracts | 1 | ||
Commercial Real Estate Portfolio Segment [Member] | |||
Percentage of Loan to Value Ratios, Maximum | 80.00% | ||
Financing Receivable, Modifications, Number of Contracts | 0 | 0 | |
Commercial Portfolio Segment [Member] | |||
Financing Receivable, Modifications, Number of Contracts | 2 | 11 | |
Commercial Portfolio Segment [Member] | Payment Deferral [Member] | |||
Financing Receivable, Modifications, Number of Contracts | 7 |
Note 4 - Loans Receivable and53
Note 4 - Loans Receivable and Credit Disclosures - Composition of Loans Receivable (Details) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Loans receivable | $ 782,950,000 | $ 762,785,000 | ||
Allowance for loan losses | (11,321,000) | (10,507,000) | $ (9,988,000) | $ (8,838,000) |
Deferred loan fees | (79,000) | (96,000) | ||
771,549,655 | 752,181,730 | |||
Construction Real Estate [Member] | ||||
Loans receivable | 50,309,000 | 61,042,000 | ||
Allowance for loan losses | (796,000) | (908,000) | (999,000) | (495,000) |
Family Residential Real Estate 1-4 [Member] | ||||
Loans receivable | 146,258,000 | 149,507,000 | ||
Allowance for loan losses | (1,716,000) | (1,711,000) | (1,806,000) | (1,648,000) |
Commercial Real Estate Portfolio Segment [Member] | ||||
Loans receivable | 350,626,000 | 315,702,000 | ||
Allowance for loan losses | (4,734,000) | (3,960,000) | (3,557,000) | (3,214,000) |
Agriculture Real Estate [Member] | ||||
Loans receivable | 81,790,000 | 73,032,000 | ||
Allowance for loan losses | (997,000) | (861,000) | (760,000) | (737,000) |
Commercial Portfolio Segment [Member] | ||||
Loans receivable | 73,816,000 | 74,378,000 | ||
Allowance for loan losses | (1,739,000) | (1,728,000) | (1,371,000) | (1,247,000) |
Agriculture [Member] | ||||
Loans receivable | 69,806,000 | 76,994,000 | ||
Allowance for loan losses | (1,171,000) | (1,216,000) | (1,256,000) | (1,312,000) |
Consumer and Other [Member] | ||||
Loans receivable | 10,345,000 | 12,130,000 | ||
Allowance for loan losses | $ (168,000) | $ (123,000) | $ (239,000) | $ (185,000) |
Note 4 - Loans Receivable and54
Note 4 - Loans Receivable and Credit Disclosures - Changes in the Allowance for Loan Losses (Details) - USD ($) | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Balance | $ 10,507,000 | $ 9,988,000 | $ 10,507,000 | $ 9,988,000 | $ 8,838,000 | ||||||
Provision for loan losses | $ 298,000 | $ 57,000 | $ 767,000 | $ 398,000 | $ 84,000 | $ 235,000 | $ 14,000 | $ 192,000 | 1,519,596 | 524,365 | 1,099,183 |
Recoveries of loans charged-off | 32,000 | 127,000 | 120,000 | ||||||||
Loans charged-off | (738,000) | (132,000) | (69,000) | ||||||||
Balance | $ 11,321,000 | $ 10,507,000 | $ 11,321,000 | $ 10,507,000 | $ 9,988,000 |
Note 4 - Loans Receivable and55
Note 4 - Loans Receivable and Credit Disclosures - Activity in Allowance for Loan Losses (Details) - USD ($) | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Balance | $ 10,507,000 | $ 9,988,000 | $ 10,507,000 | $ 9,988,000 | $ 8,838,000 | ||||||
Provision for loan losses | $ 298,000 | $ 57,000 | $ 767,000 | 398,000 | $ 84,000 | $ 235,000 | $ 14,000 | 192,000 | 1,519,596 | 524,365 | 1,099,183 |
Recoveries of loans charged-off | 32,000 | 127,000 | 120,000 | ||||||||
Loans charged-off | (738,000) | (132,000) | (69,000) | ||||||||
Balance | 11,321,000 | 10,507,000 | 11,321,000 | 10,507,000 | 9,988,000 | ||||||
Ending balance: Individually evaluated for impairment | 811,000 | 720,000 | 811,000 | 720,000 | |||||||
Ending balance: Collectively evaluated for impairment | 10,510,000 | 9,787,000 | 10,510,000 | 9,787,000 | |||||||
Ending balance | 11,321,000 | 10,507,000 | 11,321,000 | 10,507,000 | |||||||
Ending balance: Individually evaluated for impairment | 4,810,000 | 5,077,000 | 4,810,000 | 5,077,000 | |||||||
Ending balance: Collectively evaluated for impairment | 778,140,000 | 757,708,000 | 778,140,000 | 757,708,000 | |||||||
Ending balance | 782,950,000 | 762,785,000 | 782,950,000 | 762,785,000 | |||||||
Construction Real Estate [Member] | |||||||||||
Balance | 908,000 | 999,000 | 908,000 | 999,000 | 495,000 | ||||||
Provision for loan losses | (112,000) | (121,000) | 454,000 | ||||||||
Recoveries of loans charged-off | 0 | 30,000 | 50,000 | ||||||||
Loans charged-off | 0 | 0 | 0 | ||||||||
Balance | 796,000 | 908,000 | 796,000 | 908,000 | 999,000 | ||||||
Ending balance: Individually evaluated for impairment | 0 | 0 | 0 | 0 | |||||||
Ending balance: Collectively evaluated for impairment | 796,000 | 908,000 | 796,000 | 908,000 | |||||||
Ending balance | 796,000 | 908,000 | 796,000 | 908,000 | |||||||
Ending balance: Individually evaluated for impairment | 0 | 0 | 0 | 0 | |||||||
Ending balance: Collectively evaluated for impairment | 50,309,000 | 61,042,000 | 50,309,000 | 61,042,000 | |||||||
Ending balance | 50,309,000 | 61,042,000 | 50,309,000 | 61,042,000 | |||||||
Family Residential Real Estate 1-4 [Member] | |||||||||||
Balance | 1,711,000 | 1,806,000 | 1,711,000 | 1,806,000 | 1,648,000 | ||||||
Provision for loan losses | 1,000 | (85,000) | 157,000 | ||||||||
Recoveries of loans charged-off | 11,000 | 5,000 | 26,000 | ||||||||
Loans charged-off | (7,000) | (15,000) | (25,000) | ||||||||
Balance | 1,716,000 | 1,711,000 | 1,716,000 | 1,711,000 | 1,806,000 | ||||||
Ending balance: Individually evaluated for impairment | 42,000 | 76,000 | 42,000 | 76,000 | |||||||
Ending balance: Collectively evaluated for impairment | 1,674,000 | 1,635,000 | 1,674,000 | 1,635,000 | |||||||
Ending balance | 1,716,000 | 1,711,000 | 1,716,000 | 1,711,000 | |||||||
Ending balance: Individually evaluated for impairment | 689,000 | 660,000 | 689,000 | 660,000 | |||||||
Ending balance: Collectively evaluated for impairment | 145,569,000 | 148,847,000 | 145,569,000 | 148,847,000 | |||||||
Ending balance | 146,258,000 | 149,507,000 | 146,258,000 | 149,507,000 | |||||||
Commercial Real Estate Portfolio Segment [Member] | |||||||||||
Balance | 3,960,000 | 3,557,000 | 3,960,000 | 3,557,000 | 3,214,000 | ||||||
Provision for loan losses | 774,000 | 403,000 | 339,000 | ||||||||
Recoveries of loans charged-off | 0 | 0 | 4,000 | ||||||||
Loans charged-off | 0 | 0 | 0 | ||||||||
Balance | 4,734,000 | 3,960,000 | 4,734,000 | 3,960,000 | 3,557,000 | ||||||
Ending balance: Individually evaluated for impairment | 115,000 | 115,000 | |||||||||
Ending balance: Collectively evaluated for impairment | 4,619,000 | 3,960,000 | 4,619,000 | 3,960,000 | |||||||
Ending balance | 4,734,000 | 3,960,000 | 4,734,000 | 3,960,000 | |||||||
Ending balance: Individually evaluated for impairment | 901,000 | 399,000 | 901,000 | 399,000 | |||||||
Ending balance: Collectively evaluated for impairment | 349,725,000 | 315,303,000 | 349,725,000 | 315,303,000 | |||||||
Ending balance | 350,626,000 | 315,702,000 | 350,626,000 | 315,702,000 | |||||||
Agriculture Real Estate [Member] | |||||||||||
Balance | 861,000 | 760,000 | 861,000 | 760,000 | 737,000 | ||||||
Provision for loan losses | 136,000 | 101,000 | 23,000 | ||||||||
Recoveries of loans charged-off | 0 | 0 | 0 | ||||||||
Loans charged-off | 0 | 0 | 0 | ||||||||
Balance | 997,000 | 861,000 | 997,000 | 861,000 | 760,000 | ||||||
Ending balance: Individually evaluated for impairment | 0 | 0 | 0 | 0 | |||||||
Ending balance: Collectively evaluated for impairment | 997,000 | 861,000 | 997,000 | 861,000 | |||||||
Ending balance | 997,000 | 861,000 | 997,000 | 861,000 | |||||||
Ending balance: Individually evaluated for impairment | 0 | 0 | 0 | 0 | |||||||
Ending balance: Collectively evaluated for impairment | 81,790,000 | 73,032,000 | 81,790,000 | 73,032,000 | |||||||
Ending balance | 81,790,000 | 73,032,000 | 81,790,000 | 73,032,000 | |||||||
Commercial Portfolio Segment [Member] | |||||||||||
Balance | 1,728,000 | 1,371,000 | 1,728,000 | 1,371,000 | 1,247,000 | ||||||
Provision for loan losses | 691,000 | 352,000 | 124,000 | ||||||||
Recoveries of loans charged-off | 7,000 | 83,000 | 0 | ||||||||
Loans charged-off | (687,000) | (78,000) | 0 | ||||||||
Balance | 1,739,000 | 1,728,000 | 1,739,000 | 1,728,000 | 1,371,000 | ||||||
Ending balance: Individually evaluated for impairment | 607,000 | 644,000 | 607,000 | 644,000 | |||||||
Ending balance: Collectively evaluated for impairment | 1,132,000 | 1,084,000 | 1,132,000 | 1,084,000 | |||||||
Ending balance | 1,739,000 | 1,728,000 | 1,739,000 | 1,728,000 | |||||||
Ending balance: Individually evaluated for impairment | 3,140,000 | 3,942,000 | 3,140,000 | 3,942,000 | |||||||
Ending balance: Collectively evaluated for impairment | 70,676,000 | 70,436,000 | 70,676,000 | 70,436,000 | |||||||
Ending balance | 73,816,000 | 74,378,000 | 73,816,000 | 74,378,000 | |||||||
Agriculture [Member] | |||||||||||
Balance | 1,216,000 | 1,256,000 | 1,216,000 | 1,256,000 | 1,312,000 | ||||||
Provision for loan losses | (45,000) | (40,000) | (45,000) | ||||||||
Recoveries of loans charged-off | 0 | 0 | 28,000 | ||||||||
Loans charged-off | 0 | 0 | (39,000) | ||||||||
Balance | 1,171,000 | 1,216,000 | 1,171,000 | 1,216,000 | 1,256,000 | ||||||
Ending balance: Individually evaluated for impairment | 0 | 0 | 0 | 0 | |||||||
Ending balance: Collectively evaluated for impairment | 1,171,000 | 1,216,000 | 1,171,000 | 1,216,000 | |||||||
Ending balance | 1,171,000 | 1,216,000 | 1,171,000 | 1,216,000 | |||||||
Ending balance: Individually evaluated for impairment | 0 | 0 | 0 | 0 | |||||||
Ending balance: Collectively evaluated for impairment | 69,806,000 | 76,994,000 | 69,806,000 | 76,994,000 | |||||||
Ending balance | 69,806,000 | 76,994,000 | 69,806,000 | 76,994,000 | |||||||
Consumer and Other [Member] | |||||||||||
Balance | $ 123,000 | $ 239,000 | 123,000 | 239,000 | 185,000 | ||||||
Provision for loan losses | 75,000 | (86,000) | 47,000 | ||||||||
Recoveries of loans charged-off | 14,000 | 9,000 | 12,000 | ||||||||
Loans charged-off | (44,000) | (39,000) | (5,000) | ||||||||
Balance | 168,000 | 123,000 | 168,000 | 123,000 | $ 239,000 | ||||||
Ending balance: Individually evaluated for impairment | 47,000 | 47,000 | |||||||||
Ending balance: Collectively evaluated for impairment | 121,000 | 123,000 | 121,000 | 123,000 | |||||||
Ending balance | 168,000 | 123,000 | 168,000 | 123,000 | |||||||
Ending balance: Individually evaluated for impairment | 80,000 | 76,000 | 80,000 | 76,000 | |||||||
Ending balance: Collectively evaluated for impairment | 10,265,000 | 12,054,000 | 10,265,000 | 12,054,000 | |||||||
Ending balance | $ 10,345,000 | $ 12,130,000 | $ 10,345,000 | $ 12,130,000 |
Note 4 - Loans Receivable and56
Note 4 - Loans Receivable and Credit Disclosures - Credit Risk Profile by Internally Assigned Grade (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Loan and lease receivable other than consumer and residential | $ 626,347 | $ 601,148 |
Pass [Member] | ||
Loan and lease receivable other than consumer and residential | 532,556 | 514,168 |
Watch [Member] | ||
Loan and lease receivable other than consumer and residential | 82,493 | 69,779 |
Special Mention [Member] | ||
Loan and lease receivable other than consumer and residential | 184 | 4,603 |
Substandard [Member] | ||
Loan and lease receivable other than consumer and residential | 7,073 | 8,257 |
Substandard Impaired [Member] | ||
Loan and lease receivable other than consumer and residential | 4,041 | 4,341 |
Construction Real Estate [Member] | ||
Loan and lease receivable other than consumer and residential | 50,309 | 61,042 |
Construction Real Estate [Member] | Pass [Member] | ||
Loan and lease receivable other than consumer and residential | 47,726 | 57,420 |
Construction Real Estate [Member] | Watch [Member] | ||
Loan and lease receivable other than consumer and residential | 2,583 | 3,245 |
Construction Real Estate [Member] | Special Mention [Member] | ||
Loan and lease receivable other than consumer and residential | 0 | 0 |
Construction Real Estate [Member] | Substandard [Member] | ||
Loan and lease receivable other than consumer and residential | 0 | 377 |
Construction Real Estate [Member] | Substandard Impaired [Member] | ||
Loan and lease receivable other than consumer and residential | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loan and lease receivable other than consumer and residential | 350,626 | 315,702 |
Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | ||
Loan and lease receivable other than consumer and residential | 319,178 | 288,107 |
Commercial Real Estate Portfolio Segment [Member] | Watch [Member] | ||
Loan and lease receivable other than consumer and residential | 27,528 | 22,833 |
Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member] | ||
Loan and lease receivable other than consumer and residential | 184 | 204 |
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | ||
Loan and lease receivable other than consumer and residential | 2,835 | 4,159 |
Commercial Real Estate Portfolio Segment [Member] | Substandard Impaired [Member] | ||
Loan and lease receivable other than consumer and residential | 901 | 399 |
Agriculture Real Estate [Member] | ||
Loan and lease receivable other than consumer and residential | 81,790 | 73,032 |
Agriculture Real Estate [Member] | Pass [Member] | ||
Loan and lease receivable other than consumer and residential | 60,301 | 51,720 |
Agriculture Real Estate [Member] | Watch [Member] | ||
Loan and lease receivable other than consumer and residential | 20,114 | 15,251 |
Agriculture Real Estate [Member] | Special Mention [Member] | ||
Loan and lease receivable other than consumer and residential | 0 | 4,228 |
Agriculture Real Estate [Member] | Substandard [Member] | ||
Loan and lease receivable other than consumer and residential | 1,375 | 1,833 |
Agriculture Real Estate [Member] | Substandard Impaired [Member] | ||
Loan and lease receivable other than consumer and residential | 0 | 0 |
Commercial Portfolio Segment [Member] | ||
Loan and lease receivable other than consumer and residential | 73,816 | 74,378 |
Commercial Portfolio Segment [Member] | Pass [Member] | ||
Loan and lease receivable other than consumer and residential | 59,535 | 59,506 |
Commercial Portfolio Segment [Member] | Watch [Member] | ||
Loan and lease receivable other than consumer and residential | 9,628 | 9,512 |
Commercial Portfolio Segment [Member] | Special Mention [Member] | ||
Loan and lease receivable other than consumer and residential | 0 | 96 |
Commercial Portfolio Segment [Member] | Substandard [Member] | ||
Loan and lease receivable other than consumer and residential | 1,513 | 1,322 |
Commercial Portfolio Segment [Member] | Substandard Impaired [Member] | ||
Loan and lease receivable other than consumer and residential | 3,140 | 3,942 |
Agriculture [Member] | ||
Loan and lease receivable other than consumer and residential | 69,806 | 76,994 |
Agriculture [Member] | Pass [Member] | ||
Loan and lease receivable other than consumer and residential | 45,816 | 57,415 |
Agriculture [Member] | Watch [Member] | ||
Loan and lease receivable other than consumer and residential | 22,640 | 18,938 |
Agriculture [Member] | Special Mention [Member] | ||
Loan and lease receivable other than consumer and residential | 0 | 75 |
Agriculture [Member] | Substandard [Member] | ||
Loan and lease receivable other than consumer and residential | 1,350 | 566 |
Agriculture [Member] | Substandard Impaired [Member] | ||
Loan and lease receivable other than consumer and residential | $ 0 | $ 0 |
Note 4 - Loans Receivable and57
Note 4 - Loans Receivable and Credit Disclosures - Credit Risk Profile Based on Payment Activity (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Loan and lease receivable, consumer and residential | $ 156,603 | $ 161,637 |
Performing Financial Instruments [Member] | ||
Loan and lease receivable, consumer and residential | 155,815 | 160,879 |
Nonperforming Financial Instruments [Member] | ||
Loan and lease receivable, consumer and residential | 788 | 758 |
Family Residential Real Estate 1-4 [Member] | ||
Loan and lease receivable, consumer and residential | 146,258 | 149,507 |
Family Residential Real Estate 1-4 [Member] | Performing Financial Instruments [Member] | ||
Loan and lease receivable, consumer and residential | 145,551 | 148,828 |
Family Residential Real Estate 1-4 [Member] | Nonperforming Financial Instruments [Member] | ||
Loan and lease receivable, consumer and residential | 707 | 679 |
Consumer and Other [Member] | ||
Loan and lease receivable, consumer and residential | 10,345 | 12,130 |
Consumer and Other [Member] | Performing Financial Instruments [Member] | ||
Loan and lease receivable, consumer and residential | 10,264 | 12,051 |
Consumer and Other [Member] | Nonperforming Financial Instruments [Member] | ||
Loan and lease receivable, consumer and residential | $ 81 | $ 79 |
Note 4 - Loans Receivable and58
Note 4 - Loans Receivable and Credit Disclosures - Impaired Loans (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Impaired financing receivable with no related allowance, recorded investment | $ 1,393 | $ 3,674 | $ 776 |
Impaired financing receivable with no related allowance, unpaid principal balance | 2,222 | 4,251 | 1,397 |
Loans with no specific reserve recorded, average recorded investment | 2,437 | 1,549 | 1,079 |
Loans with no specific reserve recorded, interest income recognized | 34 | 66 | 163 |
Impaired financing receivable with related allowance, recorded investment | 3,417 | 1,403 | 1,042 |
Impaired financing receivable with related allowance, unpaid principal balance | 3,789 | 1,646 | 1,264 |
Impaired financing receivable, related allowance | 811 | 720 | 439 |
Loans with an allowance recorded, average recorded investment | 2,592 | 1,416 | 1,025 |
Loans with an allowance recorded, interest income recognized | 3 | 6 | 0 |
Impaired financing receivable, recorded investment | 4,810 | 5,077 | 1,818 |
Impaired financing receivable, unpaid principal balance | 6,011 | 5,897 | 2,661 |
Loans, average recorded investment | 5,029 | 2,965 | 2,104 |
Loans, interest income recognized | 37 | 72 | 163 |
Construction Real Estate [Member] | |||
Impaired financing receivable with no related allowance, recorded investment | 0 | 0 | 0 |
Impaired financing receivable with no related allowance, unpaid principal balance | 0 | 0 | 31 |
Loans with no specific reserve recorded, average recorded investment | 0 | 0 | 97 |
Loans with no specific reserve recorded, interest income recognized | 31 | 129 | |
Impaired financing receivable with related allowance, recorded investment | 0 | 0 | 0 |
Impaired financing receivable with related allowance, unpaid principal balance | 0 | 0 | 0 |
Impaired financing receivable, related allowance | 0 | 0 | 0 |
Loans with an allowance recorded, average recorded investment | 13 | 0 | 0 |
Loans with an allowance recorded, interest income recognized | 2 | 0 | 0 |
Impaired financing receivable, recorded investment | 0 | 0 | 0 |
Impaired financing receivable, unpaid principal balance | 0 | 0 | 31 |
Loans, average recorded investment | 13 | 0 | 97 |
Loans, interest income recognized | 2 | 31 | 129 |
Family Residential Real Estate 1-4 [Member] | |||
Impaired financing receivable with no related allowance, recorded investment | 572 | 452 | 296 |
Impaired financing receivable with no related allowance, unpaid principal balance | 677 | 473 | 304 |
Loans with no specific reserve recorded, average recorded investment | 542 | 440 | 188 |
Loans with no specific reserve recorded, interest income recognized | 30 | 1 | 0 |
Impaired financing receivable with related allowance, recorded investment | 117 | 208 | 754 |
Impaired financing receivable with related allowance, unpaid principal balance | 180 | 360 | 891 |
Impaired financing receivable, related allowance | 42 | 76 | 273 |
Loans with an allowance recorded, average recorded investment | 153 | 572 | 768 |
Loans with an allowance recorded, interest income recognized | 5 | 0 | |
Impaired financing receivable, recorded investment | 689 | 660 | 1,050 |
Impaired financing receivable, unpaid principal balance | 857 | 833 | 1,195 |
Loans, average recorded investment | 695 | 1,012 | 956 |
Loans, interest income recognized | 30 | 6 | 0 |
Commercial Real Estate Portfolio Segment [Member] | |||
Impaired financing receivable with no related allowance, recorded investment | 671 | 399 | 456 |
Impaired financing receivable with no related allowance, unpaid principal balance | 1,353 | 1,025 | 1,030 |
Loans with no specific reserve recorded, average recorded investment | 652 | 452 | 554 |
Loans with no specific reserve recorded, interest income recognized | 26 | 29 | |
Impaired financing receivable with related allowance, recorded investment | 230 | 0 | 102 |
Impaired financing receivable with related allowance, unpaid principal balance | 230 | 0 | 111 |
Impaired financing receivable, related allowance | 115 | 0 | 2 |
Loans with an allowance recorded, average recorded investment | 46 | 20 | 135 |
Loans with an allowance recorded, interest income recognized | 0 | 0 | |
Impaired financing receivable, recorded investment | 901 | 399 | 558 |
Impaired financing receivable, unpaid principal balance | 1,583 | 1,025 | 1,141 |
Loans, average recorded investment | 698 | 472 | 689 |
Loans, interest income recognized | 0 | 26 | 29 |
Agriculture Real Estate [Member] | |||
Impaired financing receivable with no related allowance, recorded investment | 0 | 0 | 0 |
Impaired financing receivable with no related allowance, unpaid principal balance | 0 | 0 | 0 |
Loans with no specific reserve recorded, average recorded investment | 0 | 0 | 0 |
Loans with no specific reserve recorded, interest income recognized | 0 | 0 | |
Impaired financing receivable with related allowance, recorded investment | 0 | 0 | 0 |
Impaired financing receivable with related allowance, unpaid principal balance | 0 | 0 | 0 |
Impaired financing receivable, related allowance | 0 | 0 | 0 |
Loans with an allowance recorded, average recorded investment | 0 | 0 | 0 |
Loans with an allowance recorded, interest income recognized | 0 | 0 | |
Impaired financing receivable, recorded investment | 0 | 0 | 0 |
Impaired financing receivable, unpaid principal balance | 0 | 0 | 0 |
Loans, average recorded investment | 0 | 0 | 0 |
Loans, interest income recognized | 0 | 0 | 0 |
Commercial Portfolio Segment [Member] | |||
Impaired financing receivable with no related allowance, recorded investment | 125 | 2,747 | 11 |
Impaired financing receivable with no related allowance, unpaid principal balance | 148 | 2,672 | 17 |
Loans with no specific reserve recorded, average recorded investment | 1,190 | 580 | 223 |
Loans with no specific reserve recorded, interest income recognized | 4 | 0 | 3 |
Impaired financing receivable with related allowance, recorded investment | 3,015 | 1,195 | 186 |
Impaired financing receivable with related allowance, unpaid principal balance | 3,336 | 1,286 | 262 |
Impaired financing receivable, related allowance | 607 | 644 | 164 |
Loans with an allowance recorded, average recorded investment | 2,357 | 824 | 122 |
Loans with an allowance recorded, interest income recognized | 1 | 0 | |
Impaired financing receivable, recorded investment | 3,140 | 3,942 | 197 |
Impaired financing receivable, unpaid principal balance | 3,484 | 3,958 | 279 |
Loans, average recorded investment | 3,547 | 1,404 | 345 |
Loans, interest income recognized | 4 | 1 | 3 |
Agriculture [Member] | |||
Impaired financing receivable with no related allowance, recorded investment | 0 | 0 | 11 |
Impaired financing receivable with no related allowance, unpaid principal balance | 0 | 0 | 13 |
Loans with no specific reserve recorded, average recorded investment | 0 | 9 | 13 |
Loans with no specific reserve recorded, interest income recognized | 2 | 0 | |
Impaired financing receivable with related allowance, recorded investment | 0 | 0 | 0 |
Impaired financing receivable with related allowance, unpaid principal balance | 0 | 0 | 0 |
Impaired financing receivable, related allowance | 0 | 0 | 0 |
Loans with an allowance recorded, average recorded investment | 0 | 0 | 0 |
Loans with an allowance recorded, interest income recognized | 0 | 0 | |
Impaired financing receivable, recorded investment | 0 | 0 | 11 |
Impaired financing receivable, unpaid principal balance | 0 | 0 | 13 |
Loans, average recorded investment | 0 | 9 | 13 |
Loans, interest income recognized | 0 | 2 | 0 |
Consumer and Other [Member] | |||
Impaired financing receivable with no related allowance, recorded investment | 25 | 76 | 2 |
Impaired financing receivable with no related allowance, unpaid principal balance | 44 | 81 | 2 |
Loans with no specific reserve recorded, average recorded investment | 53 | 68 | 4 |
Loans with no specific reserve recorded, interest income recognized | 6 | 2 | |
Impaired financing receivable with related allowance, recorded investment | 55 | 0 | 0 |
Impaired financing receivable with related allowance, unpaid principal balance | 43 | 0 | 0 |
Impaired financing receivable, related allowance | 47 | 0 | 0 |
Loans with an allowance recorded, average recorded investment | 23 | 0 | 0 |
Loans with an allowance recorded, interest income recognized | 1 | 0 | 0 |
Impaired financing receivable, recorded investment | 80 | 76 | 2 |
Impaired financing receivable, unpaid principal balance | 87 | 81 | 2 |
Loans, average recorded investment | 76 | 68 | 4 |
Loans, interest income recognized | $ 1 | $ 6 | $ 2 |
Note 4 - Loans Receivable and59
Note 4 - Loans Receivable and Credit Disclosures - Troubled Debt Restructurings (Details) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | |
Financing receivable modifications, number of contracts | 2 | 15 |
Financing receivable modifications, pre-modification outstanding, recorded investment | $ 93 | $ 3,492 |
Financing receivable modifications, post modification outstanding, recorded investment | $ 99 | $ 3,492 |
Construction Real Estate [Member] | ||
Financing receivable modifications, number of contracts | 0 | 0 |
Financing receivable modifications, pre-modification outstanding, recorded investment | $ 0 | $ 0 |
Financing receivable modifications, post modification outstanding, recorded investment | $ 0 | $ 0 |
Family Residential Real Estate 1-4 [Member] | ||
Financing receivable modifications, number of contracts | 0 | 1 |
Financing receivable modifications, pre-modification outstanding, recorded investment | $ 0 | $ 149 |
Financing receivable modifications, post modification outstanding, recorded investment | $ 0 | $ 149 |
Commercial Real Estate Portfolio Segment [Member] | ||
Financing receivable modifications, number of contracts | 0 | 0 |
Financing receivable modifications, pre-modification outstanding, recorded investment | $ 0 | $ 0 |
Financing receivable modifications, post modification outstanding, recorded investment | $ 0 | $ 0 |
Agriculture Real Estate [Member] | ||
Financing receivable modifications, number of contracts | 0 | 0 |
Financing receivable modifications, pre-modification outstanding, recorded investment | $ 0 | $ 0 |
Financing receivable modifications, post modification outstanding, recorded investment | $ 0 | $ 0 |
Commercial Portfolio Segment [Member] | ||
Financing receivable modifications, number of contracts | 2 | 11 |
Financing receivable modifications, pre-modification outstanding, recorded investment | $ 93 | $ 3,273 |
Financing receivable modifications, post modification outstanding, recorded investment | $ 99 | $ 3,273 |
Agriculture [Member] | ||
Financing receivable modifications, number of contracts | 0 | 0 |
Financing receivable modifications, pre-modification outstanding, recorded investment | $ 0 | $ 0 |
Financing receivable modifications, post modification outstanding, recorded investment | $ 0 | $ 0 |
Consumer and Other [Member] | ||
Financing receivable modifications, number of contracts | 0 | 3 |
Financing receivable modifications, pre-modification outstanding, recorded investment | $ 0 | $ 70 |
Financing receivable modifications, post modification outstanding, recorded investment | $ 0 | $ 70 |
Note 4 - Loans Receivable and60
Note 4 - Loans Receivable and Credit Disclosures - Past Due Loans (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Financing receivable, recorded investment, past due | $ 4,045 | $ 3,902 |
Financing receivable, recorded investment, current | 778,905 | 758,883 |
Loans receivable | 782,950 | 762,785 |
Financing receivable, recorded investment, 90 days past due and still accruing | 18 | 22 |
Construction Real Estate [Member] | ||
Financing receivable, recorded investment, past due | 159 | 0 |
Financing receivable, recorded investment, current | 50,150 | 61,042 |
Loans receivable | 50,309 | 61,042 |
Financing receivable, recorded investment, 90 days past due and still accruing | 0 | 0 |
Family Residential Real Estate 1-4 [Member] | ||
Financing receivable, recorded investment, past due | 1,354 | 1,612 |
Financing receivable, recorded investment, current | 144,904 | 147,895 |
Loans receivable | 146,258 | 149,507 |
Financing receivable, recorded investment, 90 days past due and still accruing | 18 | 19 |
Commercial Real Estate Portfolio Segment [Member] | ||
Financing receivable, recorded investment, past due | 992 | 1,420 |
Financing receivable, recorded investment, current | 349,634 | 314,282 |
Loans receivable | 350,626 | 315,702 |
Financing receivable, recorded investment, 90 days past due and still accruing | 0 | 0 |
Agriculture Real Estate [Member] | ||
Financing receivable, recorded investment, past due | 655 | 0 |
Financing receivable, recorded investment, current | 81,135 | 73,032 |
Loans receivable | 81,790 | 73,032 |
Financing receivable, recorded investment, 90 days past due and still accruing | 0 | 0 |
Commercial Portfolio Segment [Member] | ||
Financing receivable, recorded investment, past due | 693 | 831 |
Financing receivable, recorded investment, current | 73,123 | 73,547 |
Loans receivable | 73,816 | 74,378 |
Financing receivable, recorded investment, 90 days past due and still accruing | 0 | 0 |
Agriculture [Member] | ||
Financing receivable, recorded investment, past due | 77 | 0 |
Financing receivable, recorded investment, current | 69,729 | 76,994 |
Loans receivable | 69,806 | 76,994 |
Financing receivable, recorded investment, 90 days past due and still accruing | 0 | 0 |
Consumer and Other [Member] | ||
Financing receivable, recorded investment, past due | 115 | 39 |
Financing receivable, recorded investment, current | 10,230 | 12,091 |
Loans receivable | 10,345 | 12,130 |
Financing receivable, recorded investment, 90 days past due and still accruing | 0 | 3 |
Financing Receivables 30 to 89 Days Past Due [Member] | ||
Financing receivable, recorded investment, past due | 2,546 | 3,117 |
Financing Receivables 30 to 89 Days Past Due [Member] | Construction Real Estate [Member] | ||
Financing receivable, recorded investment, past due | 159 | 0 |
Financing Receivables 30 to 89 Days Past Due [Member] | Family Residential Real Estate 1-4 [Member] | ||
Financing receivable, recorded investment, past due | 940 | 1,577 |
Financing Receivables 30 to 89 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Financing receivable, recorded investment, past due | 363 | 1,420 |
Financing Receivables 30 to 89 Days Past Due [Member] | Agriculture Real Estate [Member] | ||
Financing receivable, recorded investment, past due | 655 | 0 |
Financing Receivables 30 to 89 Days Past Due [Member] | Commercial Portfolio Segment [Member] | ||
Financing receivable, recorded investment, past due | 275 | 84 |
Financing Receivables 30 to 89 Days Past Due [Member] | Agriculture [Member] | ||
Financing receivable, recorded investment, past due | 77 | 0 |
Financing Receivables 30 to 89 Days Past Due [Member] | Consumer and Other [Member] | ||
Financing receivable, recorded investment, past due | 77 | 36 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing receivable, recorded investment, past due | 1,499 | 785 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Construction Real Estate [Member] | ||
Financing receivable, recorded investment, past due | 0 | 0 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Family Residential Real Estate 1-4 [Member] | ||
Financing receivable, recorded investment, past due | 414 | 35 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Financing receivable, recorded investment, past due | 629 | 0 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Agriculture Real Estate [Member] | ||
Financing receivable, recorded investment, past due | 0 | 0 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial Portfolio Segment [Member] | ||
Financing receivable, recorded investment, past due | 418 | 747 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Agriculture [Member] | ||
Financing receivable, recorded investment, past due | 0 | 0 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Consumer and Other [Member] | ||
Financing receivable, recorded investment, past due | $ 38 | $ 3 |
Note 4 - Loans Receivable and61
Note 4 - Loans Receivable and Credit Disclosures - Loan Transactions With Related Parties (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Balance | $ 10,353 | $ 9,049 |
New loans | 11,264 | 13,218 |
Repayments | (13,018) | (11,931) |
Change in status | 10 | 17 |
Balance | $ 8,609 | $ 10,353 |
Note 5 - Bank Premises and Eq62
Note 5 - Bank Premises and Equipment - Major Classes of Bank Premises and Equipment (Details) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Property, plant and equipment, gross | $ 29,103,000 | $ 29,156,000 |
Less accumulated depreciation | 13,704,000 | 13,107,000 |
15,399,146 | 16,049,379 | |
Land [Member] | ||
Property, plant and equipment, gross | 3,773,000 | 3,798,000 |
Building and Building Improvements [Member] | ||
Property, plant and equipment, gross | 18,841,000 | 18,979,000 |
Furniture and Fixtures [Member] | ||
Property, plant and equipment, gross | $ 6,489,000 | $ 6,379,000 |
Note 6 - Other Real Estate Ow63
Note 6 - Other Real Estate Owned - Changes in Other Real Estate Owned (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Balance | $ 545,757 | $ 1,250,000 | |
Transfer of loans | 17,000 | 157,000 | |
Impairment | (28,039) | $ (614,687) | |
Net proceeds from sale | (192,000) | (1,052,000) | |
Gain on sale, net | 14,648 | 218,687 | 100,409 |
Balance | $ 385,509 | $ 545,757 | $ 1,250,000 |
Note 6 - Other Real Estate Ow64
Note 6 - Other Real Estate Owned - Components of Other Real Estate Owned (Details) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Other real estate owned | $ 385,509 | $ 545,757 | $ 1,250,000 |
Construction and Land Development [Member] | |||
Other real estate owned | 320,000 | 320,000 | |
One to Four Family Residential Real Estate [Member] | |||
Other real estate owned | $ 66,000 | $ 226,000 |
Note 7 - Goodwill (Details Text
Note 7 - Goodwill (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Goodwill, Period Increase (Decrease) | $ 0 | $ 0 |
Finite Tax Lived Intangible Asset, Useful Life | 15 years |
Note 8 - Intangible Assets (Det
Note 8 - Intangible Assets (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 2 years 182 days | 2 years 292 days | |
Amortization of Intangible Assets | $ 369,580 | $ 368,259 | $ 421,500 |
Customer Lists [Member] | Wealth Management Business [Member] | |||
Finite-lived Intangible Assets Acquired | $ 109,000 | $ 412,000 |
Note 8 - Intangible Assets - In
Note 8 - Intangible Assets - Intangible Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Intangible asset, gross amount | $ 3,038 | $ 2,930 |
Intangible asset, accumulated amortization | 1,947 | 1,577 |
Core Deposits [Member] | ||
Intangible asset, gross amount | 2,518 | 2,518 |
Intangible asset, accumulated amortization | 1,861 | 1,563 |
Customer Lists [Member] | ||
Intangible asset, gross amount | 520 | 412 |
Intangible asset, accumulated amortization | $ 86 | $ 14 |
Note 8 - Intangible Assets - Es
Note 8 - Intangible Assets - Estimated Remaining Amortization Expense on Intangible Assets on Core Deposits (Details) - Core Deposits [Member] - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
2,018 | $ 327 | |||
2,019 | 203 | |||
2,020 | 147 | |||
2,021 | 146 | |||
2,022 | 146 | |||
After | 122 | |||
$ 1,091 | $ 1,353 | $ 1,309 | $ 1,730 |
Note 8 - Intangible Assets - Co
Note 8 - Intangible Assets - Core Deposit Intangible Assets Activity (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Amortization | $ (369,580) | $ (368,259) | $ (421,500) |
Core Deposits [Member] | |||
Intangible asset, net | 1,353,000 | 1,309,000 | 1,730,000 |
Acquisition | 108,000 | 412,000 | 0 |
Amortization | (370,000) | (368,000) | (421,000) |
Intangible asset, net | $ 1,091,000 | $ 1,353,000 | $ 1,309,000 |
Note 9 - Deposits (Details Text
Note 9 - Deposits (Details Textual) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Related Party Deposit Liabilities | $ 15,267,000 | $ 15,570,000 |
Note 9 - Deposits - Maturities
Note 9 - Deposits - Maturities of Time Deposits (Details) $ in Thousands | Dec. 31, 2017USD ($) |
2,018 | $ 105,187 |
2,019 | 47,169 |
2,020 | 23,923 |
2,021 | 11,884 |
2,022 | 6,872 |
$ 195,035 |
Note 9 - Deposits - Interest Ex
Note 9 - Deposits - Interest Expense on Deposits (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
NOW accounts | $ 1,161,000 | $ 585,000 | $ 469,000 |
Savings and money market | 1,385,000 | 755,000 | 674,000 |
Time deposits | 1,893,000 | 1,734,000 | 1,876,000 |
$ 4,439,305 | $ 3,073,658 | $ 3,019,273 |
Note 10 - Pledged Collateral 73
Note 10 - Pledged Collateral Related to Securities Sold Under Repurchase Agreements - Pledged Collateral at Estimated Fair Value (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Securities sold under agreements to repurchase | $ 86,607 | $ 93,831 |
Collateral Related to Securities Sold Under Agreements to Repurchase [Member] | ||
Securities sold under agreements to repurchase | 71,621 | 78,409 |
Collateral Related to Term Repurchase Agreements [Member] | ||
Securities sold under agreements to repurchase | 14,986 | 15,422 |
US Treasury and Government [Member] | Collateral Related to Securities Sold Under Agreements to Repurchase [Member] | ||
Securities sold under agreements to repurchase | 1,474 | 1,476 |
US Treasury and Government [Member] | Collateral Related to Term Repurchase Agreements [Member] | ||
Securities sold under agreements to repurchase | 14,986 | 15,068 |
US Government Agencies Debt Securities [Member] | Collateral Related to Securities Sold Under Agreements to Repurchase [Member] | ||
Securities sold under agreements to repurchase | 47,323 | 46,557 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Collateral Related to Securities Sold Under Agreements to Repurchase [Member] | ||
Securities sold under agreements to repurchase | 22,824 | 30,376 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Collateral Related to Term Repurchase Agreements [Member] | ||
Securities sold under agreements to repurchase | 0 | 354 |
Maturity Overnight [Member] | ||
Securities sold under agreements to repurchase | 71,621 | 78,409 |
Maturity Overnight [Member] | Collateral Related to Securities Sold Under Agreements to Repurchase [Member] | ||
Securities sold under agreements to repurchase | 71,621 | 78,409 |
Maturity Overnight [Member] | Collateral Related to Term Repurchase Agreements [Member] | ||
Securities sold under agreements to repurchase | 0 | 0 |
Maturity Overnight [Member] | US Treasury and Government [Member] | Collateral Related to Securities Sold Under Agreements to Repurchase [Member] | ||
Securities sold under agreements to repurchase | 1,474 | 1,476 |
Maturity Overnight [Member] | US Treasury and Government [Member] | Collateral Related to Term Repurchase Agreements [Member] | ||
Securities sold under agreements to repurchase | 0 | 0 |
Maturity Overnight [Member] | US Government Agencies Debt Securities [Member] | Collateral Related to Securities Sold Under Agreements to Repurchase [Member] | ||
Securities sold under agreements to repurchase | 47,323 | 46,557 |
Maturity Overnight [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Collateral Related to Securities Sold Under Agreements to Repurchase [Member] | ||
Securities sold under agreements to repurchase | 22,824 | 30,376 |
Maturity Overnight [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Collateral Related to Term Repurchase Agreements [Member] | ||
Securities sold under agreements to repurchase | 0 | 0 |
Maturity Greater than 90 Days [Member] | ||
Securities sold under agreements to repurchase | 14,986 | 15,422 |
Maturity Greater than 90 Days [Member] | Collateral Related to Securities Sold Under Agreements to Repurchase [Member] | ||
Securities sold under agreements to repurchase | 0 | 0 |
Maturity Greater than 90 Days [Member] | Collateral Related to Term Repurchase Agreements [Member] | ||
Securities sold under agreements to repurchase | 14,986 | 15,422 |
Maturity Greater than 90 Days [Member] | US Treasury and Government [Member] | Collateral Related to Securities Sold Under Agreements to Repurchase [Member] | ||
Securities sold under agreements to repurchase | 0 | 0 |
Maturity Greater than 90 Days [Member] | US Treasury and Government [Member] | Collateral Related to Term Repurchase Agreements [Member] | ||
Securities sold under agreements to repurchase | 14,986 | 15,068 |
Maturity Greater than 90 Days [Member] | US Government Agencies Debt Securities [Member] | Collateral Related to Securities Sold Under Agreements to Repurchase [Member] | ||
Securities sold under agreements to repurchase | 0 | 0 |
Maturity Greater than 90 Days [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Collateral Related to Securities Sold Under Agreements to Repurchase [Member] | ||
Securities sold under agreements to repurchase | 0 | 0 |
Maturity Greater than 90 Days [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Collateral Related to Term Repurchase Agreements [Member] | ||
Securities sold under agreements to repurchase | $ 0 | $ 354 |
Note 11 - Borrowings (Details T
Note 11 - Borrowings (Details Textual) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Securities Loaned or Sold under Agreements to Repurchase, Fair Value Disclosure | $ 14,986,000 | $ 15,422,000 |
Federal Home Loan Bank, Advances, General Debt Obligations, Amount of Available, Unused Funds | 185,417,000 | 177,905,000 |
Federal Home Loan Bank Advances and Long Term Debt | $ 26,500,000 | $ 27,500,000 |
Note 11 - Borrowings - FHLB Adv
Note 11 - Borrowings - FHLB Advances and Other Long-term Borrowings (Details) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
2018, Amount | $ 11,500,000 | |
2018, Weighted average interest rate | 2.94% | |
2020, Amount | $ 2,000,000 | |
2020, Weighted average interest rate | 1.58% | |
Federal Home Loan Bank (FHLB) advances | $ 13,500,000 | $ 14,500,000 |
Total FHLB advances, Weighted average interest rate | 3.62% | |
2018, Amount | $ 13,000,000 | |
Total other borrowings, Amount | $ 13,000,000 | |
Total other borrowings, Weighted average interest rate | 3.62% | |
Total FHLB and other borrowings, Amount | $ 26,500,000 | $ 27,500,000 |
Total FHLB and other borrowings, Weighted average interest rate | 3.17% | |
Weighted Average [Member] | ||
Total FHLB advances, Weighted average interest rate | 2.73% |
Note 11 - Borrowings - FHLB A76
Note 11 - Borrowings - FHLB Advances and Other Long-term Borrowings (Details) (Parentheticals) | Dec. 31, 2017USD ($) |
Repurchase Agreement, callable quarterly in 2018 and thereafter | $ 7,000,000 |
Note 12 - Employee Benefit Pl77
Note 12 - Employee Benefit Plans (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 3.00% | ||
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent | 3.00% | ||
Defined Contribution Plan, Employer Discretionary Contribution Amount | $ 737,000 | $ 722,000 | $ 678,000 |
Note 13 - Income Taxes (Details
Note 13 - Income Taxes (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 35.00% | 35.00% | 35.00% |
Deferred Tax Assets, Tax Credit Carryforwards, Alternative Minimum Tax | $ 226,000 | $ 226,000 | |
Liability for Uncertainty in Income Taxes, Current | 0 | 0 | |
Income Tax Examination, Penalties and Interest Accrued | 0 | 0 | |
Unrecognized Tax Benefits | 0 | ||
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Amount of Unrecorded Benefit | 0 | 0 | |
Other Liabilities [Member] | |||
Accrued Income Taxes | $ 322,000 | $ 482,000 |
Note 13 - Income Taxes - Compon
Note 13 - Income Taxes - Components of Income Tax Expense (Details) - USD ($) | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Federal: | |||||||||||
Current | $ 5,708,000 | $ 5,370,000 | $ 3,119,000 | ||||||||
Deferred | (305,000) | (43,000) | 1,753,000 | ||||||||
Deferred due to enacted changes in tax rates | 1,190,000 | 0 | 0 | ||||||||
6,593,000 | 5,327,000 | 4,872,000 | |||||||||
State: | |||||||||||
Current | 1,018,000 | 1,261,000 | 749,000 | ||||||||
Deferred | (26,000) | 217,000 | 186,000 | ||||||||
992,000 | 1,478,000 | 935,000 | |||||||||
Income tax expense | $ 2,923,000 | $ 1,730,000 | $ 1,453,000 | $ 1,479,000 | $ 1,717,000 | $ 1,903,000 | $ 1,683,000 | $ 1,501,000 | $ 7,584,801 | $ 6,804,506 | $ 5,806,544 |
Note 13 - Income Taxes - Income
Note 13 - Income Taxes - Income Tax Reconciliation (Details) - USD ($) | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Income taxes at 35% federal tax rate | $ 7,449,000 | $ 7,889,000 | $ 7,287,000 | ||||||||
Tax-exempt interest and dividends | (1,737,000) | (1,943,000) | (2,046,000) | ||||||||
State taxes, net of federal tax benefit | 717,000 | 729,000 | 506,000 | ||||||||
Effect of change in deferred tax asset related to enacted changes in tax rates | 1,190,000 | 0 | 0 | ||||||||
Other | (34,000) | 130,000 | 60,000 | ||||||||
Income tax expense | $ 2,923,000 | $ 1,730,000 | $ 1,453,000 | $ 1,479,000 | $ 1,717,000 | $ 1,903,000 | $ 1,683,000 | $ 1,501,000 | $ 7,584,801 | $ 6,804,506 | $ 5,806,544 |
Note 13 - Income Taxes - Inco81
Note 13 - Income Taxes - Income Tax Reconciliation (Details) (Parentheticals) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Income taxes, federal tax rate | 35.00% | 35.00% | 35.00% |
Note 13 - Income Taxes - Deferr
Note 13 - Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Deferred tax assets: | ||
Allowance for loan losses | $ 2,776,000 | $ 3,823,000 |
Net unrealized losses on securities available-for-sale | 171,000 | 338,000 |
Other real estate owned | 68,000 | 116,000 |
Accrued vacation | 168,000 | 251,000 |
Deferred Tax Assets, Tax Credit Carryforwards, Alternative Minimum Tax | 226,000 | 226,000 |
Other intangible assets | 155,000 | 232,000 |
Off balance sheet reserve | 126,000 | 191,000 |
Other deferred tax assets | 342,000 | 228,000 |
4,032,000 | 5,405,000 | |
Deferred tax liabilities: | ||
Bank premises and equipment | (643,000) | (937,000) |
Goodwill | (604,000) | (736,000) |
Other deferred tax liabilities | (16,000) | (20,000) |
(1,263,000) | (1,693,000) | |
Valuation allowance | (226,000) | (226,000) |
Net deferred tax asset | $ 2,543,000 | $ 3,486,000 |
Note 14 - Commitments, Contin83
Note 14 - Commitments, Contingencies and Concentrations of Credit Risk (Details Textual) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Fixed Interest Rate, Commitments to Extend Credit | $ 112,325,000 | $ 138,473,000 |
Liabilities to Cover Credit Losses for Off Balance Sheet | $ 507,000 | $ 512,000 |
Note 14 - Commitments, Contin84
Note 14 - Commitments, Contingencies and Concentrations of Credit Risk - Summary of Commitments (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Commitments | $ 157,055 | $ 169,375 |
Commitments to Extend Credit [Member] | ||
Commitments | 153,294 | 164,066 |
Standby Letters of Credit [Member] | ||
Commitments | $ 3,761 | $ 5,309 |
Note 15 - Regulatory Matters (D
Note 15 - Regulatory Matters (Details Textual) | Dec. 31, 2017 | Dec. 31, 2016 |
Capital Conservation Buffer to Risk Weighted Assets | 1.25% | 0.625% |
Tier One Risk Based Capital Conservation Buffer Required for Capital Adequacy to Risk Weighted Assets | 1.25% | 0.625% |
Common Equity Tier One Risk Based Capital Conservation Buffer Required for Capital Adequacy to Risk Weighted Assets | 1.25% | 0.625% |
Effective January 2019 [Member] | ||
Common Equity Tier One Capital Conservation Buffer | 2.50% |
Note 15 - Regulatory Matters -
Note 15 - Regulatory Matters - Actual Capital Amounts and Ratios (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | ||
Capital | $ 176,306 | $ 170,358 | ||
Capital to risk weighted assets | 17.60% | 17.20% | ||
Capital required for capital adequacy | $ 92,500 | [1] | $ 85,241 | [2] |
Capital required for capital adequacy to risk weighted assets | 9.25% | [1] | 8.625% | [2] |
Tier one risk based capital | $ 164,467 | $ 159,325 | ||
Tier one risk based capital to risk weighted assets | 16.40% | 16.10% | ||
Tier one risk based capital required for capital adequacy | $ 72,500 | [1] | $ 65,475 | [2] |
Tier one risk based capital required for capital adequacy to risk weighted assets | 7.25% | [1] | 6.625% | [2] |
Tier one leverage capital | $ 164,467 | $ 159,325 | ||
Tier one leverage capital to average assets | 12.10% | 12.00% | ||
Tier one leverage capital required for capital adequacy | $ 54,264 | $ 53,316 | ||
Tier one leverage capital required for capital adequacy to risk weighted assets | 4.00% | 4.00% | ||
Common equity tier one capital | $ 164,467 | $ 159,325 | ||
Common equity tier one risk based capital to risk weighted assets | 16.40% | 16.10% | ||
Common equity tier one capital required for capital adequacy | $ 57,500 | [1] | $ 50,650 | [2] |
Common equity tier one risk based capital required for capital adequacy to risk weighted assets | 5.75% | [1] | 5.125% | [2] |
Boone Bank and Trust [Member] | ||||
Capital | $ 15,344 | $ 15,044 | ||
Capital to risk weighted assets | 16.50% | 17.20% | ||
Capital required for capital adequacy | $ 8,613 | [1] | $ 7,534 | [2] |
Capital required for capital adequacy to risk weighted assets | 9.25% | [1] | 8.625% | [2] |
Capital required to be well capitalized | $ 9,312 | $ 8,735 | ||
Capital required to be well capitalized to risk weighted assets | 10.00% | 10.00% | ||
Tier one risk based capital | $ 14,453 | $ 14,132 | ||
Tier one risk based capital to risk weighted assets | 15.50% | 16.20% | ||
Tier one risk based capital required for capital adequacy | $ 6,751 | [1] | $ 5,787 | [2] |
Tier one risk based capital required for capital adequacy to risk weighted assets | 7.25% | [1] | 6.625% | [2] |
Tier one risk based capital required to be well capitalized | $ 7,449 | $ 6,988 | ||
Tier one risk based capital required to be well capitalized to risk weighted assets | 8.00% | 8.00% | ||
Tier one leverage capital | $ 14,453 | $ 14,132 | ||
Tier one leverage capital to average assets | 10.40% | 10.20% | ||
Tier one leverage capital required for capital adequacy | $ 5,568 | $ 5,529 | ||
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 | $ 6,960 | $ 6,911 | ||
Tier one leverage capital required to be well capitalized to average assets | 5.00% | 5.00% | ||
Common equity tier one capital | $ 14,453 | $ 14,132 | ||
Common equity tier one risk based capital to risk weighted assets | 15.50% | 16.20% | ||
Common equity tier one capital required for capital adequacy | $ 5,354 | [1] | $ 4,477 | [2] |
Common equity tier one risk based capital required for capital adequacy to risk weighted assets | 5.75% | [1] | 5.125% | [2] |
Common equity tier one capital required to be well capitalized | $ 6,053 | $ 5,678 | ||
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 | $ 81,390 | $ 78,322 | ||
Capital to risk weighted assets | 15.50% | 15.30% | ||
Capital required for capital adequacy | $ 48,466 | [1] | $ 44,279 | [2] |
Capital required for capital adequacy to risk weighted assets | 9.25% | [1] | 8.625% | [2] |
Capital required to be well capitalized | $ 52,396 | $ 51,338 | ||
Capital required to be well capitalized to risk weighted assets | 10.00% | 10.00% | ||
Tier one risk based capital | $ 75,404 | $ 72,750 | ||
Tier one risk based capital to risk weighted assets | 14.40% | 14.20% | ||
Tier one risk based capital required for capital adequacy | $ 37,987 | [1] | $ 34,011 | [2] |
Tier one risk based capital required for capital adequacy to risk weighted assets | 7.25% | [1] | 6.625% | [2] |
Tier one risk based capital required to be well capitalized | $ 41,917 | $ 41,070 | ||
Tier one risk based capital required to be well capitalized to risk weighted assets | 8.00% | 8.00% | ||
Tier one leverage capital | $ 75,404 | $ 72,750 | ||
Tier one leverage capital to average assets | 10.10% | 10.00% | ||
Tier one leverage capital required for capital adequacy | $ 29,910 | $ 29,077 | ||
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 | $ 37,387 | $ 36,347 | ||
Tier one leverage capital required to be well capitalized to average assets | 5.00% | 5.00% | ||
Common equity tier one capital | $ 75,404 | $ 72,750 | ||
Common equity tier one risk based capital to risk weighted assets | 14.40% | 14.20% | ||
Common equity tier one capital required for capital adequacy | $ 30,128 | [1] | $ 26,311 | [2] |
Common equity tier one risk based capital required for capital adequacy to risk weighted assets | 5.75% | [1] | 5.125% | [2] |
Common equity tier one capital required to be well capitalized | $ 34,058 | $ 33,370 | ||
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 | $ 26,982 | $ 26,095 | ||
Capital to risk weighted assets | 15.30% | 14.10% | ||
Capital required for capital adequacy | $ 16,324 | [1] | $ 15,927 | [2] |
Capital required for capital adequacy to risk weighted assets | 9.25% | [1] | 8.625% | [2] |
Capital required to be well capitalized | $ 17,648 | $ 18,466 | ||
Capital required to be well capitalized to risk weighted assets | 10.00% | 10.00% | ||
Tier one risk based capital | $ 24,775 | $ 24,139 | ||
Tier one risk based capital to risk weighted assets | 14.00% | 13.10% | ||
Tier one risk based capital required for capital adequacy | $ 12,795 | [1] | $ 12,234 | [2] |
Tier one risk based capital required for capital adequacy to risk weighted assets | 7.25% | [1] | 6.625% | [2] |
Tier one risk based capital required to be well capitalized | $ 14,118 | $ 14,773 | ||
Tier one risk based capital required to be well capitalized to risk weighted assets | 8.00% | 8.00% | ||
Tier one leverage capital | $ 24,775 | $ 24,139 | ||
Tier one leverage capital to average assets | 11.60% | 11.50% | ||
Tier one leverage capital required for capital adequacy | $ 8,553 | $ 8,374 | ||
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 | $ 10,691 | $ 10,467 | ||
Tier one leverage capital required to be well capitalized to average assets | 5.00% | 5.00% | ||
Common equity tier one capital | $ 24,775 | $ 24,139 | ||
Common equity tier one risk based capital to risk weighted assets | 14.00% | 13.10% | ||
Common equity tier one capital required for capital adequacy | $ 10,147 | [1] | $ 9,464 | [2] |
Common equity tier one risk based capital required for capital adequacy to risk weighted assets | 5.75% | [1] | 5.125% | [2] |
Common equity tier one capital required to be well capitalized | $ 11,471 | $ 12,003 | ||
Common equity tier one capital required to be well capitalized to risk weighted assets | 6.50% | 6.50% | ||
State Bank and Trust [Member] | ||||
Capital | $ 20,064 | $ 20,170 | ||
Capital to risk weighted assets | 15.80% | 16.40% | ||
Capital required for capital adequacy | $ 11,738 | [1] | $ 10,590 | [2] |
Capital required for capital adequacy to risk weighted assets | 9.25% | [1] | 8.625% | [2] |
Capital required to be well capitalized | $ 12,690 | $ 12,278 | ||
Capital required to be well capitalized to risk weighted assets | 10.00% | 10.00% | ||
Tier one risk based capital | $ 18,475 | $ 18,633 | ||
Tier one risk based capital to risk weighted assets | 14.60% | 15.20% | ||
Tier one risk based capital required for capital adequacy | $ 9,200 | [1] | $ 8,134 | [2] |
Tier one risk based capital required for capital adequacy to risk weighted assets | 7.25% | [1] | 6.625% | [2] |
Tier one risk based capital required to be well capitalized | $ 10,152 | $ 9,822 | ||
Tier one risk based capital required to be well capitalized to risk weighted assets | 8.00% | 8.00% | ||
Tier one leverage capital | $ 18,475 | $ 18,633 | ||
Tier one leverage capital to average assets | 11.80% | 11.60% | ||
Tier one leverage capital required for capital adequacy | $ 6,284 | $ 6,449 | ||
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 | $ 7,856 | $ 8,061 | ||
Tier one leverage capital required to be well capitalized to average assets | 5.00% | 5.00% | ||
Common equity tier one capital | $ 18,475 | $ 18,633 | ||
Common equity tier one risk based capital to risk weighted assets | 14.60% | 15.20% | ||
Common equity tier one capital required for capital adequacy | $ 7,297 | [1] | $ 6,292 | [2] |
Common equity tier one risk based capital required for capital adequacy to risk weighted assets | 5.75% | [1] | 5.125% | [2] |
Common equity tier one capital required to be well capitalized | $ 8,248 | $ 7,981 | ||
Common equity tier one capital required to be well capitalized to risk weighted assets | 6.50% | 6.50% | ||
United Bank and Trust [Member] | ||||
Capital | $ 14,833 | $ 14,897 | ||
Capital to risk weighted assets | 19.90% | 19.20% | ||
Capital required for capital adequacy | $ 6,878 | [1] | $ 6,684 | [2] |
Capital required for capital adequacy to risk weighted assets | 9.25% | [1] | 8.625% | [2] |
Capital required to be well capitalized | $ 7,436 | $ 7,749 | ||
Capital required to be well capitalized to risk weighted assets | 10.00% | 10.00% | ||
Tier one risk based capital | $ 14,012 | $ 14,078 | ||
Tier one risk based capital to risk weighted assets | 18.80% | 18.20% | ||
Tier one risk based capital required for capital adequacy | $ 5,391 | [1] | $ 5,134 | [2] |
Tier one risk based capital required for capital adequacy to risk weighted assets | 7.25% | [1] | 6.625% | [2] |
Tier one risk based capital required to be well capitalized | $ 5,649 | $ 6,199 | ||
Tier one risk based capital required to be well capitalized to risk weighted assets | 8.00% | 8.00% | ||
Tier one leverage capital | $ 14,012 | $ 14,078 | ||
Tier one leverage capital to average assets | 12.80% | 12.50% | ||
Tier one leverage capital required for capital adequacy | $ 4,362 | $ 4,523 | ||
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 | $ 5,453 | $ 5,654 | ||
Tier one leverage capital required to be well capitalized to average assets | 5.00% | 5.00% | ||
Common equity tier one capital | $ 14,012 | $ 14,078 | ||
Common equity tier one risk based capital to risk weighted assets | 18.80% | 18.20% | ||
Common equity tier one capital required for capital adequacy | $ 4,276 | [1] | $ 3,972 | [2] |
Common equity tier one risk based capital required for capital adequacy to risk weighted assets | 5.75% | [1] | 5.125% | [2] |
Common equity tier one capital required to be well capitalized | $ 4,833 | $ 5,037 | ||
Common equity tier one capital required to be well capitalized to risk weighted assets | 6.50% | 6.50% | ||
[1] | These ratios for December 31, 2017 include a capital conservation buffer of 1.25%, except for the Tier 1 capital to average weighted assets ratios. | |||
[2] | These ratios for December 31, 2016 include a capital conservation buffer of 0.625%, except for the Tier 1 capital to average weighted assets ratios. |
Note 16 - Fair Value Measurem87
Note 16 - Fair Value Measurements - Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Available for sale securities | $ 498,342,864 | $ 516,079,506 |
US Treasury Securities [Member] | ||
Available for sale securities | 6,367,000 | 4,368,000 |
US Government Agencies Debt Securities [Member] | ||
Available for sale securities | 111,263,000 | 110,209,000 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Available for sale securities | 81,780,000 | 82,858,000 |
US States and Political Subdivisions Debt Securities [Member] | ||
Available for sale securities | 237,413,000 | 264,448,000 |
Corporate Debt Securities [Member] | ||
Available for sale securities | 58,464,000 | 51,184,000 |
Equity Securities, Other [Member] | ||
Available for sale securities | 3,056,000 | 3,013,000 |
Fair Value, Measurements, Recurring [Member] | ||
Available for sale securities | 498,343,000 | 516,080,000 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available for sale securities | 6,401,000 | 4,368,000 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available for sale securities | 491,942,000 | 511,712,000 |
Fair Value, Measurements, Recurring [Member] | US Treasury Securities [Member] | ||
Available for sale securities | 6,367,000 | 4,368,000 |
Fair Value, Measurements, Recurring [Member] | US Treasury Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available for sale securities | 6,367,000 | 4,368,000 |
Fair Value, Measurements, Recurring [Member] | US Government Agencies Debt Securities [Member] | ||
Available for sale securities | 111,263,000 | 110,209,000 |
Fair Value, Measurements, Recurring [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available for sale securities | 111,263,000 | 110,209,000 |
Fair Value, Measurements, Recurring [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Available for sale securities | 81,780,000 | 82,858,000 |
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 | 81,780,000 | 82,858,000 |
Fair Value, Measurements, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Available for sale securities | 237,413,000 | 264,448,000 |
Fair Value, Measurements, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available for sale securities | 237,413,000 | 264,448,000 |
Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member] | ||
Available for sale securities | 58,464,000 | 51,184,000 |
Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available for sale securities | 58,464,000 | 51,184,000 |
Fair Value, Measurements, Recurring [Member] | Equity Securities, Other [Member] | ||
Available for sale securities | 3,056,000 | 3,013,000 |
Fair Value, Measurements, Recurring [Member] | Equity Securities, Other [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available for sale securities | 34,000 | |
Fair Value, Measurements, Recurring [Member] | Equity Securities, Other [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available for sale securities | $ 3,022,000 | $ 3,013,000 |
Note 16 - Fair Value Measurem88
Note 16 - Fair Value Measurements - Assets Measured at Fair Value on a Nonrecurring Basis (Details) - Fair Value, Measurements, Nonrecurring [Member] - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Loans | $ 2,606 | $ 683 |
Other real estate owned | 386 | 546 |
Total | 2,992 | 1,229 |
Fair Value, Inputs, Level 1 [Member] | ||
Loans | ||
Other real estate owned | ||
Total | ||
Fair Value, Inputs, Level 2 [Member] | ||
Loans | ||
Other real estate owned | ||
Total | ||
Fair Value, Inputs, Level 3 [Member] | ||
Loans | 2,606 | 683 |
Other real estate owned | 386 | 546 |
Total | $ 2,992 | $ 1,229 |
Note 16 - Fair Value Measurem89
Note 16 - Fair Value Measurements - Fair Value Quantitative Information (Details) - Fair Value, Measurements, Nonrecurring [Member] - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | ||
Estimated Fair Value | $ 2,992 | $ 1,229 | |
Fair Value, Inputs, Level 3 [Member] | |||
Estimated Fair Value | 2,992 | 1,229 | |
Fair Value, Inputs, Level 3 [Member] | Impaired Loan [Member] | Evaluation of Collateral [Member] | |||
Estimated Fair Value | $ 2,606 | $ 683 | |
Unobservable Inputs, Rate | [1] | ||
Fair Value, Inputs, Level 3 [Member] | Other Real Estate Owned [Member] | Appraisal Valuation [Member] | |||
Estimated Fair Value | $ 386 | $ 546 | |
Fair Value, Inputs, Level 3 [Member] | Other Real Estate Owned [Member] | Appraisal Valuation [Member] | Minimum [Member] | |||
Unobservable Inputs, Rate | 600.00% | 6.00% | |
Fair Value, Inputs, Level 3 [Member] | Other Real Estate Owned [Member] | Appraisal Valuation [Member] | Maximum [Member] | |||
Unobservable Inputs, Rate | 800.00% | 10.00% | |
Fair Value, Inputs, Level 3 [Member] | Other Real Estate Owned [Member] | Appraisal Valuation [Member] | Weighted Average [Member] | |||
Unobservable Inputs, Rate | 700.00% | 8.00% | |
[1] | Not Meaningful. |
Note 16 - Fair Value Measurem90
Note 16 - Fair Value Measurements - Estimated Fair Values of Financial Instruments (Details) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Securities available-for-sale | $ 498,342,864 | $ 516,079,506 |
Accrued income receivable | 8,382,391 | 7,768,689 |
Securities Loaned or Sold under Agreements to Repurchase, Fair Value Disclosure | 14,986,000 | 15,422,000 |
Reported Value Measurement [Member] | ||
Securities available-for-sale | 498,343,000 | 516,080,000 |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash and due from banks | 26,398,000 | 29,478,000 |
Interest bearing deposits | 43,022,000 | 31,737,000 |
Accrued income receivable | 8,382,000 | 7,769,000 |
Securities Loaned or Sold under Agreements to Repurchase, Fair Value Disclosure | 37,425,000 | 58,337,000 |
Accrued interest payable | 477,000 | 408,000 |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Loans | 771,550,000 | 752,182,000 |
Loans held for sale | 243,000 | |
Deposits | 1,134,391,000 | 1,109,409,000 |
FHLB advances | 13,500,000 | 14,500,000 |
Other borrowings | 13,000,000 | 13,000,000 |
Estimate of Fair Value Measurement [Member] | ||
Securities available-for-sale | 498,343,000 | 516,080,000 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash and due from banks | 26,398,000 | 29,478,000 |
Interest bearing deposits | 43,022,000 | 31,737,000 |
Accrued income receivable | 8,382,000 | 7,769,000 |
Securities Loaned or Sold under Agreements to Repurchase, Fair Value Disclosure | 37,425,000 | 58,337,000 |
Accrued interest payable | 477,000 | 408,000 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Loans | 768,444,000 | 746,580,000 |
Loans held for sale | 243,000 | |
Deposits | 1,134,468,000 | 1,110,211,000 |
FHLB advances | 13,482,000 | 14,681,000 |
Other borrowings | $ 13,079,000 | $ 13,386,000 |
Note 18 - Ames National Corpo91
Note 18 - Ames National Corporation (Parent Company Only) Financial Statements - Condensed Balance Sheets (Details) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
ASSETS | ||||
Cash and due from banks | $ 26,397,550 | $ 29,478,068 | ||
Interest bearing deposits in financial institutions | 43,021,953 | 31,737,259 | ||
Loans receivable, net | 771,549,655 | 752,181,730 | ||
Bank premises and equipment, net | 15,399,146 | 16,049,379 | ||
Accrued income receivable | 8,382,391 | 7,768,689 | ||
Other real estate owned | 385,509 | 545,757 | $ 1,250,000 | |
Other assets | 1,214,371 | 799,306 | ||
Total assets | 1,375,059,650 | 1,366,453,029 | ||
LIABILITIES | ||||
Dividends payable | 2,048,401 | 1,955,292 | ||
Deferred income taxes | 2,542,533 | 3,485,689 | ||
Accrued expenses and other liabilities | 3,942,801 | 4,146,262 | ||
Total liabilities | 1,204,306,508 | 1,201,347,786 | ||
STOCKHOLDERS' EQUITY | ||||
Common stock | 18,621,826 | 18,621,826 | ||
Additional paid-in capital | 20,878,728 | 20,878,728 | ||
Retained earnings | 131,684,961 | 126,181,376 | ||
Total stockholders' equity | 170,753,142 | 165,105,243 | $ 161,250,057 | $ 154,674,418 |
Total liabilities and stockholders' equity | 1,375,059,650 | 1,366,453,029 | ||
Parent Company [Member] | ||||
ASSETS | ||||
Cash and due from banks | 42,000 | 21,000 | ||
Interest bearing deposits in financial institutions | 13,846,000 | 11,160,000 | ||
Investment in bank subsidiaries | 153,647,000 | 149,962,000 | ||
Loans receivable, net | 2,275,000 | 3,190,000 | ||
Bank premises and equipment, net | 2,848,000 | 2,960,000 | ||
Accrued income receivable | 6,000 | 10,000 | ||
Other real estate owned | 320,000 | 320,000 | ||
Other assets | 278,000 | 22,000 | ||
Total assets | 173,262,000 | 167,645,000 | ||
LIABILITIES | ||||
Dividends payable | 2,048,000 | 1,955,000 | ||
Deferred income taxes | 70,000 | 193,000 | ||
Accrued expenses and other liabilities | 390,000 | 392,000 | ||
Total liabilities | 2,508,000 | 2,540,000 | ||
STOCKHOLDERS' EQUITY | ||||
Common stock | 18,622,000 | 18,622,000 | ||
Additional paid-in capital | 20,879,000 | 20,879,000 | ||
Retained earnings | 131,685,000 | 126,181,000 | ||
Accumulated other comprehensive (loss) | (432,000) | (577,000) | ||
Total stockholders' equity | 170,754,000 | 165,105,000 | ||
Total liabilities and stockholders' equity | $ 173,262,000 | $ 167,645,000 |
Note 18 - Ames National Corpo92
Note 18 - Ames National Corporation (Parent Company Only) Financial Statements - Condensed Statements of Income (Details) - USD ($) | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Gain on sale of other real estate owned | $ 14,648 | $ 218,687 | $ 100,409 | ||||||||
Securities gains | 505,139 | 423,601 | 888,179 | ||||||||
Income before income taxes | $ 5,610,000 | $ 5,658,000 | $ 4,925,000 | $ 5,089,000 | $ 5,742,000 | $ 5,707,000 | $ 5,782,000 | $ 5,308,000 | 21,281,990 | 22,539,282 | 20,821,195 |
Income tax expense (benefit) | 2,923,000 | 1,730,000 | 1,453,000 | 1,479,000 | 1,717,000 | 1,903,000 | 1,683,000 | 1,501,000 | 7,584,801 | 6,804,506 | 5,806,544 |
Net income | $ 2,687,000 | $ 3,928,000 | $ 3,472,000 | $ 3,610,000 | $ 4,025,000 | $ 3,804,000 | $ 4,099,000 | $ 3,807,000 | 13,697,189 | 15,734,776 | 15,014,651 |
Parent Company [Member] | |||||||||||
Equity in net income of bank subsidiaries | 13,896,000 | 15,994,000 | 15,083,000 | ||||||||
Interest | 151,000 | 192,000 | 195,000 | ||||||||
Dividends | 28,000 | ||||||||||
Rental income | 420,000 | 415,000 | 404,000 | ||||||||
Gain on sale of other real estate owned | 207,000 | ||||||||||
Other income | 1,844,000 | 1,769,000 | 1,737,000 | ||||||||
Securities gains | 279,000 | ||||||||||
16,311,000 | 18,577,000 | 17,726,000 | |||||||||
Credit for loan losses | (13,000) | (153,000) | (30,000) | ||||||||
Operating income after credit for loan losses | 16,324,000 | 18,730,000 | 17,756,000 | ||||||||
Operating expenses | 2,914,000 | 2,789,000 | 2,776,000 | ||||||||
Income before income taxes | 13,410,000 | 15,941,000 | 14,980,000 | ||||||||
Income tax expense (benefit) | (287,000) | 206,000 | (35,000) | ||||||||
Net income | $ 13,697,000 | $ 15,735,000 | $ 15,015,000 |
Note 18 - Ames National Corpo93
Note 18 - Ames National Corporation (Parent Company Only) Financial Statements - Condensed Statements of Cash Flows (Details) - USD ($) | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
CASH FLOWS FROM OPERATING ACTIVITIES | |||||||||||
Net income | $ 2,687,000 | $ 3,928,000 | $ 3,472,000 | $ 3,610,000 | $ 4,025,000 | $ 3,804,000 | $ 4,099,000 | $ 3,807,000 | $ 13,697,189 | $ 15,734,776 | $ 15,014,651 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
Depreciation | 1,133,559 | 1,209,144 | 1,147,120 | ||||||||
Provision for deferred income taxes | 858,400 | 174,400 | 1,938,200 | ||||||||
Securities gains, net | (505,139) | (423,601) | (888,179) | ||||||||
Gain on sale of other real estate owned | (14,648) | (218,687) | (100,409) | ||||||||
(Increase) decrease in accrued income receivable | (613,702) | (202,898) | (94,768) | ||||||||
(Increase) decrease in other assets | (437,556) | 298,656 | 109,864 | ||||||||
Increase (decrease) in accrued expense and other liabilities | (198,461) | 512,599 | (221,667) | ||||||||
Net cash provided by operating activities | 18,846,070 | 21,417,316 | 22,622,349 | ||||||||
CASH FLOWS FROM INVESTING ACTIVITIES | |||||||||||
Proceeds from sale of securities available-for-sale | 14,025,166 | 25,142,516 | 25,031,910 | ||||||||
Net decrease (increase) in interest bearing deposits in financial institutions | (11,284,694) | (4,744,168) | 4,476,291 | ||||||||
Decrease in loans | (20,784,138) | (51,414,733) | (41,677,319) | ||||||||
Proceeds from the sale of other real estate owned | 191,564 | 1,052,178 | 4,875,464 | ||||||||
Purchase of bank premises and equipment | (518,155) | (267,761) | (2,196,551) | ||||||||
Net cash used in investing activities | (16,895,167) | (43,469,983) | (34,375,871) | ||||||||
CASH FLOWS FROM FINANCING ACTIVITIES | |||||||||||
Dividends paid | (8,100,495) | (7,728,058) | (7,262,512) | ||||||||
Net cash used in financing activities | (5,031,421) | 27,524,934 | 12,029,066 | ||||||||
Net increase (decrease) in cash and cash equivalents | (3,080,518) | 5,472,267 | 275,544 | ||||||||
Beginning | 29,478,068 | 24,005,801 | 29,478,068 | 24,005,801 | 23,730,257 | ||||||
Ending | 26,397,550 | 29,478,068 | 26,397,550 | 29,478,068 | 24,005,801 | ||||||
Parent Company [Member] | |||||||||||
CASH FLOWS FROM OPERATING ACTIVITIES | |||||||||||
Net income | 13,697,000 | 15,735,000 | 15,015,000 | ||||||||
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
Depreciation | 113,000 | 124,000 | 131,000 | ||||||||
Credit for loan losses | (13,000) | (153,000) | (30,000) | ||||||||
Provision for deferred income taxes | (123,000) | 256,000 | 72,000 | ||||||||
Securities gains, net | (279,000) | ||||||||||
Gain on sale of other real estate owned | (207,000) | ||||||||||
Equity in net income of bank subsidiaries | (13,896,000) | (15,994,000) | (15,083,000) | ||||||||
Dividends received from bank subsidiaries | 10,355,000 | 9,350,000 | 8,350,000 | ||||||||
(Increase) decrease in accrued income receivable | 5,000 | 2,000 | (3,000) | ||||||||
(Increase) decrease in other assets | (248,000) | 90,000 | 129,000 | ||||||||
Increase (decrease) in accrued expense and other liabilities | (9,000) | 8,000 | 5,000 | ||||||||
Net cash provided by operating activities | 9,881,000 | 9,211,000 | 8,307,000 | ||||||||
CASH FLOWS FROM INVESTING ACTIVITIES | |||||||||||
Proceeds from sale of securities available-for-sale | 909,000 | ||||||||||
Net decrease (increase) in interest bearing deposits in financial institutions | (2,686,000) | (2,248,000) | (1,296,000) | ||||||||
Decrease in loans | 927,000 | 126,000 | 119,000 | ||||||||
Purchase of other real estate owned | (739,000) | ||||||||||
Proceeds from the sale of other real estate owned | 626,000 | ||||||||||
Purchase of bank premises and equipment | (1,000) | (33,000) | |||||||||
Net cash used in investing activities | (1,760,000) | (1,496,000) | (1,040,000) | ||||||||
CASH FLOWS FROM FINANCING ACTIVITIES | |||||||||||
Dividends paid | (8,100,000) | (7,728,000) | (7,263,000) | ||||||||
Net cash used in financing activities | (8,100,000) | (7,728,000) | (7,263,000) | ||||||||
Net increase (decrease) in cash and cash equivalents | 21,000 | (13,000) | 4,000 | ||||||||
Beginning | $ 21,000 | $ 34,000 | 21,000 | 34,000 | 30,000 | ||||||
Ending | $ 42,000 | $ 21,000 | 42,000 | 21,000 | 34,000 | ||||||
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION | |||||||||||
Cash receipts for income taxes | $ 142,000 | $ 171,000 | $ 237,000 |
Note 19 - Selected Quarterly 94
Note 19 - Selected Quarterly Financial Data (Unaudited) - Selected Quarterly Financial Data (Unaudited) (Details) - USD ($) | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Total interest income | $ 11,628,000 | $ 11,612,000 | $ 11,471,000 | $ 11,084,000 | $ 11,114,000 | $ 11,078,000 | $ 11,006,000 | $ 10,849,000 | $ 45,794,435 | $ 44,046,039 | $ 43,150,345 |
Total interest expense | 1,514,000 | 1,461,000 | 1,405,000 | 1,201,000 | 1,080,000 | 1,028,000 | 1,014,000 | 1,013,000 | 5,581,079 | 4,135,281 | 4,185,139 |
Net interest income | 10,114,000 | 10,151,000 | 10,066,000 | 9,883,000 | 10,034,000 | 10,050,000 | 9,992,000 | 9,836,000 | 40,213,356 | 39,910,758 | 38,965,206 |
Provision for loan losses | 298,000 | 57,000 | 767,000 | 398,000 | 84,000 | 235,000 | 14,000 | 192,000 | 1,519,596 | 524,365 | 1,099,183 |
Net interest income after provision for loan losses | 9,816,000 | 10,094,000 | 9,299,000 | 9,485,000 | 9,950,000 | 9,815,000 | 9,978,000 | 9,644,000 | 38,693,760 | 39,386,393 | 37,866,023 |
Noninterest income | 1,976,000 | 1,860,000 | 2,025,000 | 2,081,000 | 2,059,000 | 2,004,000 | 1,925,000 | 2,099,000 | 7,992,767 | 8,087,534 | 8,267,193 |
Noninterest expense | 6,182,000 | 6,296,000 | 6,399,000 | 6,477,000 | 6,267,000 | 6,112,000 | 6,121,000 | 6,435,000 | 25,404,537 | 24,934,645 | 25,312,021 |
Income before income taxes | 5,610,000 | 5,658,000 | 4,925,000 | 5,089,000 | 5,742,000 | 5,707,000 | 5,782,000 | 5,308,000 | 21,281,990 | 22,539,282 | 20,821,195 |
Income tax expense (benefit) | 2,923,000 | 1,730,000 | 1,453,000 | 1,479,000 | 1,717,000 | 1,903,000 | 1,683,000 | 1,501,000 | 7,584,801 | 6,804,506 | 5,806,544 |
Net income | $ 2,687,000 | $ 3,928,000 | $ 3,472,000 | $ 3,610,000 | $ 4,025,000 | $ 3,804,000 | $ 4,099,000 | $ 3,807,000 | $ 13,697,189 | $ 15,734,776 | $ 15,014,651 |
Basic and diluted earnings per common share (in dollars per share) | $ 0.29 | $ 0.42 | $ 0.37 | $ 0.39 | $ 0.43 | $ 0.41 | $ 0.44 | $ 0.41 | $ 1.47 | $ 1.69 | $ 1.61 |