Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2016 | Aug. 04, 2016 | |
Document Information [Line Items] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jun. 30, 2016 | |
Document Fiscal Year Focus | 2,016 | |
Document Fiscal Period Focus | Q2 | |
Entity Registrant Name | LANDMARK BANCORP INC | |
Entity Central Index Key | 1,141,688 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Smaller Reporting Company | |
Trading Symbol | LARK | |
Entity Common Stock, Shares Outstanding | 3,638,060 |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Assets | ||
Cash and cash equivalents | $ 14,317 | $ 13,569 |
Investment securities available-for-sale, at fair value | 366,550 | 353,438 |
Bank Stocks, at cost | 4,622 | 4,497 |
Loans, net of allowance for loans losses of $5,652 and $5,922 | 430,064 | 419,923 |
Loans held for sale, net | 10,057 | 14,465 |
Premises and equipment, net | 20,760 | 20,958 |
Bank owned life insurance | 18,078 | 18,164 |
Goodwill | 17,532 | 17,532 |
Other intangible assets, net | 4,148 | 4,304 |
Real estate owned, net | 718 | 1,000 |
Accrued interest and other assets | 9,476 | 10,526 |
Total assets | 896,322 | 878,376 |
Deposits: | ||
Non-interest-bearing demand | 151,049 | 143,616 |
Money market and checking | 328,816 | 346,106 |
Savings | 87,106 | 81,062 |
Time | 148,650 | 143,943 |
Total deposits | 715,621 | 714,727 |
Federal Home Loan Bank borrowings | 48,000 | 37,600 |
Subordinated debentures | 21,184 | 21,084 |
Other borrowings | 11,527 | 11,974 |
Accrued interest, taxes, and other liabilities | 10,623 | 12,421 |
Total liabilities | 806,955 | 797,806 |
Commitments and contingencies | ||
Stockholders' equity: | ||
Preferred stock, $0.01 par value per share, 200,000 shares authorized; none issued | 0 | 0 |
Common stock, $0.01 par value per share, 7,500,000 shares authorized; 3,620,669 and 3,531,036 shares issued and outstanding at June 30, 2016 and December 31, 2015, respectively | 36 | 35 |
Additional paid-in capital | 46,763 | 45,372 |
Retained earnings | 36,073 | 32,988 |
Accumulated other comprehensive income | 6,495 | 2,175 |
Total stockholders' equity | 89,367 | 80,570 |
Total liabilities and stockholders' equity | $ 896,322 | $ 878,376 |
CONSOLIDATED BALANCE SHEETS _Pa
CONSOLIDATED BALANCE SHEETS [Parenthetical] - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Allowance for loan losses | $ 5,652 | $ 5,922 |
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred Stock, Shares Authorized | 200,000 | 200,000 |
Preferred stock, shares issued | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 7,500,000 | 7,500,000 |
Common stock, shares issued | 3,620,669 | 3,531,036 |
Common stock, shares, outstanding | 3,620,669 | 3,531,036 |
CONSOLIDATED STATEMENTS OF EARN
CONSOLIDATED STATEMENTS OF EARNINGS - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | ||
Loans: | |||||
Taxable | $ 5,285 | $ 5,436 | $ 10,420 | $ 10,556 | |
Tax-exempt | 60 | 75 | 127 | 143 | |
Investment securities: | |||||
Taxable | 1,171 | 1,146 | 2,335 | 2,343 | |
Tax-exempt | 856 | 736 | 1,664 | 1,414 | |
Total interest income | 7,372 | 7,393 | 14,546 | 14,456 | |
Interest expense: | |||||
Deposits | 287 | 272 | 564 | 550 | |
Borrowings | 523 | 497 | 1,016 | 988 | |
Total interest expense | 810 | 769 | 1,580 | 1,538 | |
Net interest income | 6,562 | 6,624 | 12,966 | 12,918 | |
Provision for loan losses | 300 | 200 | 350 | (800) | |
Net interest income after provision for loan losses | 6,262 | 6,424 | 12,616 | 13,718 | |
Non-interest income: | |||||
Fees and service charges | 1,847 | 1,813 | 3,576 | 3,495 | |
Gains on sales of loans, net | 1,405 | 2,251 | 3,199 | 4,194 | |
Bank owned life insurance | 145 | 123 | 265 | 245 | |
Gains (losses) on sales of investment securities, net | 285 | 0 | 297 | (254) | |
Other | 266 | 495 | 505 | 765 | |
Total non-interest income | 3,948 | 4,682 | 7,842 | 8,445 | |
Non-interest expense: | |||||
Compensation and benefits | 3,777 | 3,845 | 7,578 | 7,566 | |
Occupancy and equipment | 1,055 | 1,059 | 2,111 | 2,130 | |
Amortization of intangibles | 331 | 346 | 668 | 681 | |
Data processing | 346 | 342 | 657 | 689 | |
Professional fees | 282 | 259 | 501 | 493 | |
Advertising | 166 | 125 | 332 | 249 | |
Federal deposit insurance premiums | 110 | 105 | 220 | 224 | |
Foreclosure and real estate owned expense | 51 | 20 | 116 | 45 | |
Other | 1,093 | 1,342 | 2,190 | 2,477 | |
Total non-interest expense | 7,211 | 7,443 | 14,373 | 14,554 | |
Earnings before income taxes | 2,999 | 3,663 | 6,085 | 7,609 | |
Income tax expense | 754 | 1,047 | 1,563 | 2,216 | |
Net earnings | $ 2,245 | $ 2,616 | $ 4,522 | $ 5,393 | |
Earnings per share: | |||||
Basic (1) | [1],[2] | $ 0.62 | $ 0.75 | $ 1.26 | $ 1.54 |
Diluted (1) | [1],[2] | 0.61 | 0.72 | 1.24 | 1.5 |
Dividends per share (1) | [1] | $ 0.2 | $ 0.18 | $ 0.4 | $ 0.36 |
[1] | Per share amounts for the periods ended June 30, 2015 have been adjusted to give effect to the 5% stock dividend paid during December 2015. | ||||
[2] | Share and per share values for the periods ended June 30, 2015 have been adjusted to give effect to the 5% stock dividend paid during December 2015. |
CONSOLIDATED STATEMENTS OF EAR5
CONSOLIDATED STATEMENTS OF EARNINGS [Parenthetical] | 12 Months Ended |
Dec. 31, 2015 | |
Percentage Of Stocks Dividend | 5.00% |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Net earnings | $ 2,245 | $ 2,616 | $ 4,522 | $ 5,393 |
Net unrealized holding gains (losses) on available-for-sale securities | 3,771 | (3,235) | 7,161 | (1,322) |
Reclassification adjustment for net (gains) losses included in earnings | (285) | 0 | (297) | 254 |
Net unrealized gains (losses) | 3,486 | (3,235) | 6,864 | (1,068) |
Income tax effect on net (gains) losses included in earnings | 105 | 0 | 110 | (94) |
Income tax effect on net unrealized holding (gains) losses | (1,396) | 1,201 | (2,654) | 493 |
Other comprehensive income (loss) | 2,195 | (2,034) | 4,320 | (669) |
Total comprehensive income | $ 4,440 | $ 582 | $ 8,842 | $ 4,724 |
CONSOLIDATED STATEMENTS OF STOC
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands | Total | Common stock [Member] | Additional paid-in capital [Member] | Retained earnings [Member] | Accumulated other comprehensive income (loss) [Member] |
Balance at Dec. 31, 2014 | $ 71,645 | $ 33 | $ 40,473 | $ 29,321 | $ 1,818 |
Net earnings | 5,393 | 0 | 0 | 5,393 | 0 |
Other comprehensive income | (669) | 0 | 0 | 0 | (669) |
Dividends paid | (1,268) | 0 | 0 | (1,268) | 0 |
Stock-based compensation | 16 | 0 | 16 | 0 | 0 |
Exercise of stock options shares including excess tax benefit | 79 | 0 | 79 | 0 | 0 |
Balance at Jun. 30, 2015 | 75,196 | 33 | 40,568 | 33,446 | 1,149 |
Balance at Dec. 31, 2015 | 80,570 | 35 | 45,372 | 32,988 | 2,175 |
Net earnings | 4,522 | 0 | 0 | 4,522 | 0 |
Other comprehensive income | 4,320 | 0 | 0 | 0 | 4,320 |
Dividends paid | (1,437) | 0 | 0 | (1,437) | 0 |
Exercise of stock options shares including excess tax benefit | 1,392 | 1 | 1,391 | 0 | 0 |
Balance at Jun. 30, 2016 | $ 89,367 | $ 36 | $ 46,763 | $ 36,073 | $ 6,495 |
CONSOLIDATED STATEMENTS OF STO8
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY [Parenthetical] - USD ($) $ in Thousands | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | ||
Dividends per share (in dollars per shares) | [1] | $ 0.4 | $ 0.36 |
Exercise of stock options (in shares) | 89,633 | 4,181 | |
Excess tax benefit related to stock option plans (in dollars) | $ 197 | $ 5 | |
[1] | Per share amounts for the periods ended June 30, 2015 have been adjusted to give effect to the 5% stock dividend paid during December 2015. |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | |
Cash flows from operating activities: | ||
Net earnings | $ 4,522 | $ 5,393 |
Adjustments to reconcile net earnings to net cash provided by operating activities: | ||
Provision for loan losses | 350 | (800) |
Amortization of investment security premiums, net | 818 | 767 |
Amortization of purchase accounting adjustment on loans | (57) | (362) |
Amortization of purchase accounting adjustment on subordinated debentures | 100 | 100 |
Amortization of intangibles | 668 | 681 |
Depreciation | 581 | 577 |
Increase in cash surrender value of bank owned life insurance | (265) | (245) |
Stock-based compensation | 0 | 16 |
Deferred income taxes | 229 | 215 |
Net (gains) losses on sales of investment securities | (297) | 254 |
Impairment of affordable housing investment | 0 | 163 |
Net loss (gain) on sales of premises, equipment and real estate owned | 72 | (236) |
Net gains on sales of loans | (3,199) | (4,194) |
Proceeds from sales of loans | 121,551 | 148,064 |
Origination of loans held for sale | (113,944) | (151,326) |
Changes in assets and liabilities: | ||
Accrued interest and other assets | (1,536) | (1,534) |
Accrued expenses, taxes, and other liabilities | (2,538) | (1,237) |
Net cash provided by (used in) operating activities | 7,055 | (3,704) |
Cash flows from investing activities: | ||
Net increase in loans | (10,932) | (3,659) |
Maturities and prepayments of investment securities | 23,429 | 34,411 |
Purchases of investment securities | (43,815) | (62,094) |
Proceeds from sales of investment securities | 13,617 | 19,069 |
Redemption of bank stocks | 3,009 | 4,769 |
Purchase of bank stocks | (3,134) | (5,951) |
Proceeds from sales of premises and equipment and foreclosed assets | 749 | 219 |
Proceeds from bank owned life insurance | 351 | 0 |
Purchases of premises and equipment, net | (386) | (509) |
Net cash used in investing activities | (17,112) | (13,745) |
Cash flows from financing activities: | ||
Net increase (decrease) in deposits | 897 | (5,005) |
Federal Home Loan Bank advance borrowings | 156,291 | 131,251 |
Federal Home Loan Bank advance repayments | (145,891) | (103,945) |
Proceeds from other borrowings | 0 | 1,400 |
Repayments on other borrowings | (447) | (2,688) |
Proceeds from exercise of stock options, including excess tax benefit | 1,392 | 79 |
Payment of dividends | (1,437) | (1,268) |
Net cash provided by financing activities | 10,805 | 19,824 |
Net increase in cash and cash equivalents | 748 | 2,375 |
Cash and cash equivalents at beginning of period | 13,569 | 12,760 |
Cash and cash equivalents at end of period | 14,317 | 15,135 |
Supplemental disclosure of cash flow information: | ||
Cash payments for income taxes | 500 | 1,890 |
Cash paid for interest | 1,599 | 1,551 |
Supplemental schedule of noncash investing and financing activities: | ||
Transfer of loans to real estate owned | 536 | 24 |
Investment securities purchases not yet settled | $ 0 | $ (2,817) |
Interim Financial Statements
Interim Financial Statements | 6 Months Ended |
Jun. 30, 2016 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | 1. Interim Financial Statements The unaudited consolidated financial statements of Landmark Bancorp, Inc. (the “Company”) and subsidiary have been prepared in accordance with the instructions to Form 10-Q. Accordingly, they do not include all the information and footnotes required by generally accepted accounting principles ("GAAP") for complete financial statements and should be read in conjunction with the Company’s most recent annual report on Form 10-K, containing the latest audited consolidated financial statements and notes thereto. The consolidated financial statements in this report have not been audited by an independent registered public accounting firm, but in the opinion of management, all adjustments, consisting of normal recurring accruals, considered necessary for a fair presentation of financial statements have been reflected herein. The results of the six months ended June 30, 2016 are not necessarily indicative of the results expected for the year ending December 31, 2016 or for any other period. The Company has evaluated subsequent events for recognition and disclosure up to the date the financial statements were issued. |
Investments
Investments | 6 Months Ended |
Jun. 30, 2016 | |
Investments, Debt and Equity Securities [Abstract] | |
Marketable Securities [Text Block] | 2. Investments As of June 30, 2016 Gross Gross Amortized unrealized unrealized Estimated (Dollars in thousands) cost gains losses fair value U. S. treasury securities $ 6,011 $ 38 $ - $ 6,049 U. S. federal agency obligations 27,721 269 (5) 27,985 Municipal obligations, tax exempt 150,554 5,203 (22) 155,735 Municipal obligations, taxable 71,998 2,268 - 74,266 Agency mortgage-backed securities 89,731 1,781 (11) 91,501 Common stocks 562 752 - 1,314 Certificates of deposit 9,700 - - 9,700 Total $ 356,277 $ 10,311 $ (38) $ 366,550 As of December 31, 2015 Gross Gross Amortized unrealized unrealized Estimated (Dollars in thousands) cost gains losses fair value U. S. treasury securities $ 6,517 $ 1 $ (1) $ 6,517 U. S. federal agency obligations 30,064 43 (187) 29,920 Municipal obligations, tax exempt 135,341 2,671 (71) 137,941 Municipal obligations, taxable 81,999 472 (581) 81,890 Agency mortgage-backed securities 85,829 391 (235) 85,985 Common stocks 580 906 - 1,486 Certificates of deposit 9,699 - - 9,699 Total $ 350,029 $ 4,484 $ (1,075) $ 353,438 The tables above show that some of the securities in the available-for-sale investment portfolio had unrealized losses, or were temporarily impaired, as of June 30, 2016 and December 31, 2015. This temporary impairment represents the estimated amount of loss that would be realized if the securities were sold on the valuation date. As of June 30, 2016 (Dollars in thousands) Less than 12 months 12 months or longer Total No. of Fair Unrealized Fair Unrealized Fair Unrealized securities value losses value losses value losses U.S. federal agency obligations 1 $ - $ - $ 3,200 $ (5) $ 3,200 $ (5) Municipal obligations, tax exempt 20 4,313 (20) 626 (2) 4,939 (22) Agency mortgage-backed securities 12 645 (1) 1,907 (10) 2,552 (11) Total 33 $ 4,958 $ (21) $ 5,733 $ (17) $ 10,691 $ (38) As of December 31, 2015 (Dollars in thousands) Less than 12 months 12 months or longer Total No. of Fair Unrealized Fair Unrealized Fair Unrealized securities value losses value losses value losses U.S. treasury securities 2 $ 3,542 $ (1) $ - $ - $ 3,542 $ (1) U. S. federal agency obligations 18 23,015 (163) 1,976 (24) 24,991 (187) Municipal obligations, tax exempt 47 11,328 (53) 2,132 (18) 13,460 (71) Municipal obligations, taxable 105 38,605 (494) 5,068 (87) 43,673 (581) Agency mortgage-backed securities 40 29,814 (166) 2,925 (69) 32,739 (235) Total 212 $ 106,304 $ (877) $ 12,101 $ (198) $ 118,405 $ (1,075) The Company’s U.S. federal agency portfolio consists of securities issued by the government-sponsored agencies of Federal Home Loan Mortgage Corporation (“FHLMC”), Federal National Mortgage Association (“FNMA”) and Federal Home Loan Bank (“FHLB”). The receipt of principal and interest on U.S. federal agency obligations is guaranteed by the respective government-sponsored agency guarantor, such that the Company believes that its U.S. federal agency obligations do not expose the Company to credit-related losses. Based on these factors, along with the Company’s intent to not sell the securities and its belief that it was more likely than not that the Company will not be required to sell the securities before recovery of their cost basis, the Company believed that the U.S. federal agency obligations identified in the tables above were temporarily impaired as of the date of the respective table. The Company’s portfolio of municipal obligations consists of both tax-exempt and taxable general obligations securities issued by various municipalities. As of June 30, 2016, the Company did not intend to sell and it was more likely than not that the Company will not be required to sell its municipal obligations in an unrealized loss position until the recovery of their costs. Due to the issuers’ continued satisfaction of the securities’ obligations in accordance with their contractual terms and the expectation that they will continue to do so, the evaluation of the fundamentals of the issuers’ financial condition and other objective evidence, the Company believed that the municipal obligations identified in the tables above were temporarily impaired as of the date of the respective table. The Company’s agency mortgage-backed securities portfolio consists of securities underwritten to the standards of and guaranteed by the government-sponsored agencies of FHLMC, FNMA and the Government National Mortgage Association (“GNMA”). The receipt of principal, at par, and interest on agency mortgage-backed securities is guaranteed by the respective government-sponsored agency guarantor, such that the Company believed that its agency mortgage-backed securities did not expose the Company to credit-related losses. Based on these factors, along with the Company’s intent to not sell the securities and the Company’s belief that it was more likely than not that the Company will not be required to sell the securities before recovery of their cost basis, the Company believed that the agency mortgage-backed securities identified in the tables above were temporarily impaired as of the date of the respective table. (Dollars in thousands) Amortized Estimated cost fair value Due in less than one year $ 17,508 $ 17,598 Due after one year but within five years 180,166 182,762 Due after five years but within ten years 88,657 92,255 Due after ten years 69,384 72,621 Common stocks 562 1,314 Total $ 356,277 $ 366,550 (Dollars in thousands) Three months ended June 30, Six months ended June 30, 2016 2015 2016 2015 Sales proceeds $ 11,801 $ - $ 13,617 $ 19,069 Realized gains $ 296 $ - $ 312 $ 24 Realized losses (11) - (15) (278) Net realized losses $ 285 $ - $ 297 $ (254) Securities with carrying values of $ 201.8 171.6 |
Loans and Allowance for Loan Lo
Loans and Allowance for Loan Losses | 6 Months Ended |
Jun. 30, 2016 | |
Receivables [Abstract] | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | 3. Loans and Allowance for Loan Losses June 30, December 31, (Dollars in thousands) 2016 2015 One-to-four family residential real estate $ 130,753 $ 131,930 Construction and land 18,381 15,043 Commercial real estate 119,147 118,983 Commercial loans 62,120 61,300 Agriculture loans 78,817 71,030 Municipal loans 7,263 7,635 Consumer loans 19,203 19,895 Total gross loans 435,684 425,816 Net deferred loan costs and loans in process 32 29 Allowance for loan losses (5,652) (5,922) Loans, net $ 430,064 $ 419,923 Three and six months ended June 30, 2016 (Dollars in thousands) One-to-four Construction Commercial Commercial Agriculture Municipal Consumer Total Allowance for loan losses: Balance at April 1, 2016 $ 864 $ 82 $ 1,831 $ 1,384 $ 1,483 $ 24 $ 201 $ 5,869 Charge-offs - - - (306) (83) - (148) (537) Recoveries 3 - - 1 - 6 10 20 Provision for loan losses (283) 7 (55) 314 200 (7) 124 300 Balance at June 30, 2016 584 89 1,776 1,393 1,600 23 187 5,652 Balance at January 1, 2016 $ 925 $ 77 $ 1,740 $ 1,530 $ 1,428 $ 23 $ 199 $ 5,922 Charge-offs - - - (306) (83) - (285) (674) Recoveries 5 - - 20 - 6 23 54 Provision for loan losses (346) 12 36 149 255 (6) 250 350 Balance at June 30, 2016 584 89 1,776 1,393 1,600 23 187 5,652 Three and six months ended June 30, 2015 (Dollars in thousands) One-to-four Construction Commercial Commercial Agriculture Municipal Consumer Total Allowance for loan losses: Balance at April 1, 2015 $ 1,386 $ 103 $ 1,600 $ 1,515 $ 1,104 $ 25 $ 172 $ 5,905 Charge-offs (9) - - (10) - - (88) (107) Recoveries 3 4 2 2 - - 8 19 Provision for loan losses (55) (9) (63) 249 (2) (4) 84 200 Balance at June 30, 2015 1,325 99 1,539 1,756 1,102 21 176 6,018 Balance at January 1, 2015 $ 755 $ 762 $ 1,832 $ 836 $ 915 $ 51 $ 169 $ 5,320 Charge-offs (9) - - (10) - (88) (142) (249) Recoveries 5 1,719 2 3 - - 18 1,747 Provision for loan losses 574 (2,382) (295) 927 187 58 131 (800) Balance at June 30, 2015 1,325 99 1,539 1,756 1,102 21 176 6,018 The following tables provide information on the Company’s activity in the allowance for loan losses by loan class and allowance methodology: As of June 30, 2016 (Dollars in thousands) One-to-four Construction Commercial Commercial Agriculture Municipal Consumer Total Allowance for loan losses: Individually evaluated for loss 19 - - 13 206 - 7 245 Collectively evaluated for loss 565 89 1,776 1,380 1,394 23 180 5,407 Total 584 89 1,776 1,393 1,600 23 187 5,652 Loan balances: Individually evaluated for loss 1,106 2,061 2,417 127 879 393 102 7,085 Collectively evaluated for loss 129,647 16,320 116,730 61,993 77,938 6,870 19,101 428,599 Total $ 130,753 $ 18,381 $ 119,147 $ 62,120 $ 78,817 $ 7,263 $ 19,203 $ 435,684 As of December 31, 2015 (Dollars in thousands) One-to-four Construction Commercial Commercial Agriculture Municipal Consumer Total Allowance for loan losses: Individually evaluated for loss 78 - - - - - 10 88 Collectively evaluated for loss 847 77 1,740 1,530 1,428 23 189 5,834 Total 925 77 1,740 1,530 1,428 23 199 5,922 Loan balances: Individually evaluated for loss 752 2,220 2,429 620 189 591 36 6,837 Collectively evaluated for loss 131,178 12,823 116,554 60,680 70,841 7,044 19,859 418,979 Total $ 131,930 $ 15,043 $ 118,983 $ 61,300 $ 71,030 $ 7,635 $ 19,895 $ 425,816 The Company recorded net loan charge-offs of $ 620 1.5 1.7 4.3 2.4 The Company’s impaired loans increased from $ 6.8 7.1 (Dollars in thousands) As of June 30, 2016 Unpaid Impaired Impaired Impaired Related Year-to- Year-to- One-to-four family residential real estate $ 1,106 $ 1,106 $ 502 $ 604 $ 19 $ 1,117 $ 4 Construction and land 3,796 2,061 2,061 - - 2,137 38 Commercial real estate 2,417 2,417 2,417 - - 2,426 253 Commercial loans 127 127 75 52 13 148 1 Agriculture loans 879 879 225 654 206 918 1 Municipal loans 393 393 393 - - 514 8 Consumer loans 102 102 86 16 7 106 - Total impaired loans $ 8,820 $ 7,085 $ 5,759 $ 1,326 $ 245 $ 7,366 $ 305 (Dollars in thousands) As of December 31, 2015 Unpaid Impaired Impaired Impaired Related Year-to- Year-to- One-to-four family residential real estate $ 752 $ 752 $ 408 $ 344 $ 78 $ 1,041 $ - Construction and land 3,955 2,220 2,220 - - 2,389 88 Commercial real estate 2,429 2,429 2,429 - - 2,484 175 Commercial loans 637 620 620 - - 634 3 Agriculture loans 189 189 189 - - 188 3 Municipal loans 591 591 591 - - 631 19 Consumer loans 36 36 10 26 10 41 - Total impaired loans $ 8,589 $ 6,837 $ 6,467 $ 370 $ 88 $ 7,408 $ 288 The Company’s key credit quality indicator is a loan’s performance status, defined as accruing or non-accruing. Performing loans are considered to have a lower risk of loss. Non-accrual loans are those which the Company believes have a higher risk of loss. The accrual of interest on non-performing loans is discontinued at the time the loan is ninety days delinquent, unless the credit is well secured and in process of collection. Loans are placed on non-accrual or are charged off at an earlier date if collection of principal or interest is considered doubtful. There were no loans ninety days delinquent and accruing interest at December 31, 2015. (Dollars in thousands) As of June 30, 2016 30-59 days 60-89 days 90 days or Total past Non-accrual Total past Total loans One-to-four family residential real estate $ 140 $ 512 $ - $ 652 $ 916 $ 1,568 $ 129,185 Construction and land 5 - - 5 607 612 17,769 Commercial real estate 10 237 - 247 39 286 118,861 Commercial loans - - - - 96 96 62,024 Agriculture loans 174 30 218 422 834 1,256 77,561 Municipal loans - - - - - - 7,263 Consumer loans 82 23 - 105 102 207 18,996 Total $ 411 $ 802 $ 218 $ 1,431 $ 2,594 $ 4,025 $ 431,659 Percent of gross loans 0.09 % 0.18 % 0.05 % 0.32 % 0.60 % 0.92 % 99.08 % (Dollars in thousands) As of December 31, 2015 30-59 days 60-89 days 90 days or Total past Non-accrual Total past Total loans One-to-four family residential real estate $ 70 $ 712 $ - $ 782 $ 749 $ 1,531 $ 130,399 Construction and land 4 - - 4 614 618 14,425 Commercial real estate 240 - - 240 47 287 118,696 Commercial loans 90 40 - 130 583 713 60,587 Agriculture loans 174 5 - 179 139 318 70,712 Municipal loans - - - - - - 7,635 Consumer loans 65 2 - 67 36 103 19,792 Total $ 643 $ 759 $ - $ 1,402 $ 2,168 $ 3,570 $ 422,246 Percent of gross loans 0.15 % 0.18 % 0.00 % 0.33 % 0.51 % 0.84 % 99.16 % Under the original terms of the Company’s non-accrual loans, interest earned on such loans for the six months ended June 30, 2016 and 2015, would have increased interest income by $ 44,000 237,000 The Company also categorizes loans into risk categories based on relevant information about the ability of the borrowers to service their debt such as current financial information, historical payment experience, credit documentation, public information and current economic trends, among other factors. The Company analyzes loans individually by classifying the loans as to credit risk. This analysis is performed on a quarterly basis. Non-classified loans generally include those loans that are expected to be repaid in accordance with contractual loan terms. Classified loans are those that are assigned a special mention, substandard or doubtful risk rating using the following definitions: Special Mention: Loans are currently protected by the current net worth and paying capacity of the obligor or of the collateral pledged but such protection is potentially weak. These loans constitute an undue and unwarranted credit risk, but not to the point of justifying a classification of substandard. The credit risk may be relatively minor, yet constitutes an unwarranted risk in light of the circumstances surrounding a specific asset. Substandard: Loans are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged. Loans have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. Loans are characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected. Doubtful: Loans classified doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions and values, highly questionable and improbable. As of June 30, 2016 As of December 31, 2015 (Dollars in thousands) Nonclassified Classified Nonclassified Classified One-to-four family residential real estate $ 129,286 $ 1,467 $ 130,575 $ 1,355 Construction and land 17,638 743 14,429 614 Commercial real estate 109,454 9,693 111,016 7,967 Commercial loans 58,875 3,245 58,862 2,438 Agriculture loans 72,179 6,638 68,186 2,844 Municipal loans 7,263 - 7,635 - Consumer loans 19,084 119 19,839 56 Total 413,779 21,905 410,542 15,274 At June 30, 2016, the Company had ten loan relationships consisting of fourteen outstanding loans that were classified as TDRs. During the second quarter of 2016, the Company classified a $ 8,000 188,000 2.7 44,000 56,000 25,000 The Company evaluates each TDR individually and returns the loan to accrual status when a payment history is established after the restructuring and future payments are reasonably assured. There were no loans modified as TDRs for which there was a payment default within 12 months of modification as of June 30, 2016 and 2015. At June 30, 2016, there was a commitment of $ 84,000 (Dollars in thousands) As of June 30, 2016 As of December 31, 2015 Number of Non-accrual Accruing Number of Non-accrual Accruing One-to-four family residential real estate 2 $ - $ 190 2 $ 55 $ 3 Construction and land 4 594 1,454 4 600 1,606 Commercial real estate 3 - 2,378 3 - 2,382 Commercial loans 2 - 31 1 - 37 Agriculture 1 - 45 2 - 50 Municipal loans 2 - 393 2 - 591 Total troubled debt restructurings 14 $ 594 $ 4,491 14 $ 655 $ 4,669 |
Goodwill and Other Intangible A
Goodwill and Other Intangible Assets | 6 Months Ended |
Jun. 30, 2016 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets Disclosure [Text Block] | 4. Goodwill and Other Intangible Assets The Company tests goodwill for impairment annually or more frequently if circumstances warrant. The Company’s annual step one impairment test as of December 31, 2015 concluded that its goodwill was not impaired. The Company concluded there were no triggering events during the first six months of 2016 that required an interim goodwill impairment test. Lease intangible assets are amortized over the life of the lease. Core deposit intangible assets are amortized over the estimated useful life of ten years on an accelerated basis. (Dollars in thousands) As of June 30, 2016 Gross carrying Accumulated Net carrying Core deposit intangible assets $ 2,067 $ (1,000) $ 1,067 Lease intangible asset 350 (120) 230 Mortgage servicing rights 5,580 (2,729) 2,851 Total other intangible assets $ 7,997 $ (3,849) $ 4,148 (Dollars in thousands) As of December 31, 2015 Gross carrying Accumulated Net carrying Core deposit intangible assets $ 2,067 $ (855) $ 1,212 Lease intangible asset 350 (98) 252 Mortgage servicing rights 5,322 (2,482) 2,840 Total other intangible assets $ 7,739 $ (3,435) $ 4,304 (Dollars in thousands) Amortization expense Remainder of 2016 $ 160 2017 289 2018 252 2019 214 2020 177 Thereafter 205 Total $ 1,297 Mortgage loans serviced for others are not reported as assets. (Dollars in thousands) June 30, December 31, 2016 2015 FHLMC $ 467,663 $ 444,714 FHLB 12,685 14,039 Custodial escrow balances maintained in connection with serviced loans were $ 4.5 3.5 304,000 268,000 604,000 523,000 (Dollars in thousands) Three months ended June 30, Six months ended June 30, 2016 2015 2016 2015 Mortgage servicing rights: Balance at beginning of period $ 2,808 $ 2,557 $ 2,840 $ 2,477 Additions 291 408 512 710 Amortization (248) (236) (501) (458) Balance at end of period $ 2,851 $ 2,729 $ 2,851 $ 2,729 The fair value of mortgage servicing rights was $ 4.1 4.6 9.50 9.52 6.14 14.98 2.16 9.50 10.00 5.15 33.78 2.25 The Company had a mortgage repurchase reserve of $ 361,000 351,000 3,000 10,000 |
Earnings per Share
Earnings per Share | 6 Months Ended |
Jun. 30, 2016 | |
Earnings Per Share [Abstract] | |
Earnings Per Share [Text Block] | 5. Earnings per Share Basic earnings per share have been computed based upon the weighted average number of common shares outstanding during each period. Diluted earnings per share include the effect of all potential common shares outstanding during each period. Three months ended Six months ended (Dollars in thousands, except per share amounts) June 30 June 30 2016 2015 2016 2015 Net earnings $ 2,245 $ 2,616 $ 4,522 $ 5,393 Weighted average common shares outstanding - basic (1) 3,613,671 3,504,295 3,585,235 3,503,495 Assumed exercise of stock options (1) 76,324 109,128 75,064 103,749 Weighted average common shares outstanding - diluted (1) 3,689,995 3,613,423 3,660,299 3,607,244 Net earnings per share (1): Basic $ 0.62 $ 0.75 $ 1.26 $ 1.54 Diluted $ 0.61 $ 0.72 $ 1.24 $ 1.50 (1) Share and per share values for the periods ended June 30, 2015 have been adjusted to give effect to the 5 The diluted earnings per share computations for the three and six months ended June 30, 2016 and 2015 include all unexercised stock options because no stock options were anti-dilutive during such periods. |
Repurchase Agreements
Repurchase Agreements | 6 Months Ended |
Jun. 30, 2016 | |
Banking and Thrift [Abstract] | |
Repurchase Agreements, Resale Agreements, Securities Borrowed, and Securities Loaned Disclosure [Text Block] | 6. Repurchase Agreements As of June 30, 2016 Overnight and Greater Continuous Up to 30 days 30-90 days than 90 days Total Repurchase agreements: U.S. federal agency obligations $ 5,063 $ - $ - $ - $ 5,063 Agency mortgage-backed securities 6,464 - - - 6,464 Total $ 11,527 $ - $ - $ - $ 11,527 As of December 31, 2015 Overnight and Up to Greater Continuous 30 days 30-90 days than 90 days Total Repurchase agreements: U.S. federal agency obligations $ 5,810 $ - $ - $ - $ 5,810 Agency mortgage-backed securities 6,164 - - - 6,164 Total $ 11,974 $ - $ - $ - $ 11,974 Repurchase agreements are comprised of non-insured customer funds, totaling $ 11.5 12.0 17.3 15.7 The investment securities are held by a third-party financial institution in the customer’s custodial account. The Company is required to maintain adequate collateral for each repurchase agreement. Changes in the fair value of the investment securities impact the amount of collateral required. If the Company were to default, the investment securities would be used to settle the repurchase agreement with the deposit customer. |
Fair Value of Financial Instrum
Fair Value of Financial Instruments and Fair Value Measurements | 6 Months Ended |
Jun. 30, 2016 | |
Fair Value Disclosures [Abstract] | |
Fair Value Disclosures [Text Block] | 7. Fair Value of Financial Instruments and Fair Value Measurements Fair value is the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. There are three levels of inputs that may be used to measure fair values: Level 1 Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. Level 2 Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. Level 3 Significant unobservable inputs that reflect a company’s own assumptions about the assumptions that market participants would use in pricing an asset or liability. (Dollars in thousands) As of June 30, 2016 Carrying amount Level 1 Level 2 Level 3 Total Financial assets: Cash and cash equivalents $ 14,317 $ 14,317 $ - $ - $ 14,317 Investment securities available-for-sale 366,550 7,363 359,187 - 366,550 Bank stocks, at cost 4,622 n/a n/a n/a n/a Loans, net 430,064 - - 431,483 431,483 Loans held for sale, net 10,057 - 10,062 - 10,062 Derivative financial instruments 615 - 615 - 615 Accrued interest receivable 3,927 22 1,979 1,926 3,927 Financial liabilities: Non-maturity deposits $ (566,971) $ (566,971) $ - $ - (566,971) Time deposits (148,650) - (148,116) - (148,116) FHLB borrowings (48,000) - (49,247) - (49,247) Subordinated debentures (21,184) - (18,812) - (18,812) Other borrowings (11,527) - (11,527) - (11,527) Accrued interest payable (271) - (271) - (271) As of December 31, 2015 Carrying amount Level 1 Level 2 Level 3 Total Financial assets: Cash and cash equivalents $ 13,569 $ 13,569 $ - $ - $ 13,569 Investment securities available-for-sale 353,438 8,003 345,435 - 353,438 Bank stocks, at cost 4,497 n/a n/a n/a n/a Loans, net 419,923 - - 420,061 420,061 Derivative financial instruments 797 - 797 - 797 Accrued interest receivable 4,002 22 2,117 1,863 4,002 Financial liabilities: Non-maturity deposits $ (570,784) $ (570,784) $ - $ - $ (570,784) Time deposits (143,943) - (142,924) - (142,924) FHLB borrowings (37,600) - (38,215) - (38,215) Subordinated debentures (2,184) - (19,051) - (19,051) Other borrowings (11,974) - (11,974) - (11,974) Accrued interest payable (287) - (287) - (287) Methods and Assumptions Utilized The carrying amount of cash and cash equivalents is considered to approximate fair value. The Company’s investment securities classified as available-for-sale include U.S. treasury securities, U.S. federal agency securities, municipal obligations, agency mortgage-backed securities, certificates of deposits and common stocks. Quoted exchange prices are available for the Company’s U.S treasury securities and common stock investments, which are classified as Level 1. U.S. federal agency securities and agency mortgage-backed obligations are priced utilizing industry-standard models that consider various assumptions, including time value, yield curves, volatility factors, prepayment speeds, default rates, loss severity, current market and contractual prices for the underlying financial instruments, as well as other relevant economic measures. Substantially all of these assumptions are observable in the marketplace, can be derived from observable data, or are supported by observable levels at which transactions are executed in the marketplace. These measurements are classified as Level 2. Municipal securities are valued using a type of matrix, or grid, pricing in which securities are benchmarked against U.S. treasury rates based on credit rating. These model and matrix measurements are classified as Level 2 in the fair value hierarchy. It is not practical to determine the fair value of bank stocks due to restrictions placed on the transferability of FHLB and FRB stock. The estimated fair value of the Company’s loan portfolio is based on the segregation of loans by collateral type, interest terms, and maturities. The fair value is estimated based on discounting scheduled and estimated cash flows through maturity using an appropriate risk-adjusted yield curve to approximate current interest rates for each category. No adjustment was made to the interest rates for changes in credit risk of performing loans where there are no known credit concerns. Management segregates loans in appropriate risk categories. Management believes that the risk factor embedded in the interest rates along with the allowance for loan losses applicable to the performing loan portfolio results in a fair valuation of such loans. The fair values of impaired loans are generally based on market prices for similar assets determined through independent appraisals or discounted values of independent appraisals and brokers’ opinions of value. This method of estimating fair value does not incorporate the exit-price concept of fair value prescribed by ASC Topic 820 and is classified as Level 3. Mortgage loans originated and intended for sale in the secondary market are carried at the lower of cost or estimated fair value, determined on an aggregate basis. The mortgage loan valuations are based on quoted secondary market prices for similar loans and are classified as Level 2. The carrying amounts of accrued interest receivable and payable are considered to approximate fair value. The estimated fair value of deposits with no stated maturity, such as non-interest-bearing demand deposits, savings, money market accounts, and checking accounts, is equal to the amount payable on demand. The fair value of interest-bearing time deposits is based on the discounted value of contractual cash flows of such deposits. The discount rate is tied to the FHLB yield curve plus an appropriate servicing spread. Fair value measurements based on discounted cash flows are classified as Level 2. These fair values do not incorporate the value of core deposit intangibles which may be associated with the deposit base. The fair value of advances from the FHLB, subordinated debentures, and other borrowings is estimated using current yield curves for similar borrowings adjusted for the Company’s current credit spread and classified as Level 2. The Company’s derivative financial instruments consist of interest rate lock commitments and corresponding forward sales contracts on mortgage loans held for sale. The fair values of these derivatives are based on quoted prices for similar loans in the secondary market. The market prices are adjusted by a factor, based on the Company’s historical data and management’s judgment about future economic trends, which considers the likelihood that a commitment will ultimately result in a closed loan. These instruments are classified as Level 2. The amounts are included in other assets or other liabilities on the consolidated balance sheets and gains on sale of loans, net in the consolidated statements of earnings. Off-Balance-Sheet Financial Instruments The fair value of letters of credit and commitments to extend credit is based on the fees currently charged to enter into similar agreements. The aggregate of these fees is not material. Transfers The Company did not transfer any assets or liabilities among levels during the six months ended June 30, 2016 or during the year ended December 31, 2015. Valuation Methods for Instruments Measured at Fair Value on a Recurring Basis (Dollars in thousands) As of June 30, 2016 Fair value hierarchy Total Level 1 Level 2 Level 3 Assets: Available-for-sale investment securities U. S. treasury securities $ 6,049 $ 6,049 $ - $ - U. S. federal agency obligations 27,985 - 27,985 - Municipal obligations, tax exempt 155,735 - 155,735 - Municipal obligations, taxable 74,266 - 74,266 - Agency mortgage-backed securities 91,501 - 91,501 - Common stocks 1,314 1,314 - - Certificates of deposit 9,700 - 9,700 - Derivative financial instruments $ 615 $ - $ 615 $ - (Dollars in thousands) As of December 31, 2015 Fair value hierarchy Total Level 1 Level 2 Level 3 Assets: Available-for-sale investment securities U. S. treasury securities $ 6,517 $ 6,517 $ - $ - U. S. federal agency obligations 29,920 - 29,920 - Municipal obligations, tax exempt 137,941 - 137,941 - Municipal obligations, taxable 81,890 - 81,890 - Agency mortgage-backed securities 85,985 - 85,985 - Common stocks 1,486 1,486 - - Certificates of deposit 9,699 - 9,699 - Derivative financial instruments 797 - 797 - Changes in the fair value of available-for-sale securities are included in other comprehensive income to the extent the changes are not considered other-than-temporary impairments. Other-than-temporary impairment tests are performed on a quarterly basis and any decline in the fair value of an individual security below its cost that is deemed to be other-than-temporary results in a write-down of that security’s cost basis. Valuation Methods for Instruments Measured at Fair Value on a Non-recurring Basis The Company does not value its loan portfolio at fair value. Collateral-dependent impaired loans are generally carried at the lower of cost or fair value of the collateral, less estimated selling costs. Collateral values are determined based on appraisals performed by qualified licensed appraisers hired by the Company and then further adjusted if warranted based on relevant facts and circumstances. The appraisals may utilize a single valuation approach or a combination of approaches including the comparable sales and income approach. Adjustments are routinely made in the appraisal process by the appraisers to adjust for differences between the comparable sales and income data available. Such adjustments are typically significant and result in a Level 3 classification of the inputs for determining fair value. Impaired loans are reviewed and evaluated at least quarterly for additional impairment and adjusted accordingly, based on the same factors identified above. The carrying value of the Company’s impaired loans was $ 7.1 6.8 245,000 88,000 (Dollars in thousands) As of June 30, 2016 Total Fair value hierarchy gains/ Total Level 1 Level 2 Level 3 (losses) Assets: Impaired loans: One-to-four family residential real estate $ 585 $ - $ - $ 585 $ 3 Commercial loans 39 - - 39 (13) Agriculture loans 448 - - 448 (206) Consumer loans 9 - - 9 2 As of December 31, 2015 Total Fair value hierarchy (losses)/ Total Level 1 Level 2 Level 3 gains Assets: Impaired loans: One-to-four family residential real estate $ 266 $ - $ - $ 266 $ (137) Consumer loans 16 - - 16 6 Loans held for sale 14,465 - 14,465 - (10) (Dollars in thousands) Fair value Valuation technique Unobservable inputs Range As of June 30, 2016 Impaired loans: One-to-four family residential real estate $ 585 Sales comparison Adjustment to appraised value 6%-40 % Commercial loans 39 Sales comparison Adjustment to appraised value 15 % Agriculture loans 448 Sales comparison Adjustment to appraised value 20%-50 % Consumer loans 9 Sales comparison Adjustment to appraised value 0 % As of December 31, 2015 Impaired loans: One-to-four family residential real estate $ 266 Sales comparison Adjustment to appraised value 0%-40 % Consumer loans 16 Sales comparison Adjustment to comparable sales 0 % |
Regulatory Capital Requirements
Regulatory Capital Requirements | 6 Months Ended |
Jun. 30, 2016 | |
Banking and Thrift [Abstract] | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | 8. Regulatory Capital Requirements Banks and bank holding companies are subject to regulatory capital requirements administered by federal banking agencies. Capital adequacy guidelines and, additionally for banks, prompt corrective action regulations involve quantitative measures of assets, liabilities, and certain off-balance-sheet items calculated under regulatory accounting practices. Capital amounts and classifications are also subject to qualitative judgments by regulators. Failure to meet capital requirements can initiate regulatory action. Management believes as of June 30, 2016, the Company and its subsidiary, Landmark National Bank (“the Bank”) meet all capital adequacy requirements to which they were subject at that time. Prompt corrective action regulations provide five classifications: well capitalized, adequately capitalized, undercapitalized, significantly undercapitalized, and critically undercapitalized, although these terms are not used to represent overall financial condition. If adequately capitalized, regulatory approval is required to accept brokered deposits. If undercapitalized, capital distributions are limited, as is asset growth and expansion, and capital restoration plans are required. On January 1, 2015, the Company and the Bank became subject to new capital rules (the “Basel III Rules”) that implemented the Basel III regulatory capital reforms from the Basel Committee on Banking Supervision and certain changes required by the Dodd-Frank Wall Street Reform and Consumer Protection Act. The Basel III Rules are applicable to all U.S. banks that are subject to minimum capital requirements, as well as to bank and savings and loan holding companies other than “small bank holding companies” (generally, non-public bank holding companies with consolidated assets of less than $ 1.0 The Basel III Rules have maintained the general structure of the prompt corrective action framework, while incorporating increased requirements. The Basel III Rules include a common equity Tier 1 capital to risk-weighted assets minimum ratio of 4.5 4.0 6.0 8.0 4.0 0.625 0.625 2.5 As of June 30, 2016 and December 31, 2015, the most recent regulatory notifications categorized the Bank as well capitalized under the regulatory framework for prompt corrective action then in effect. There are no conditions or events since that notification that management believes have changed the institution’s category. (Dollars in thousands) For capital Actual adequacy purposes* Amount Ratio Amount Ratio As of June 30, 2016 Leverage $ 85,237 9.66 % $ 35,286 4.0 % Common Equity Tier 1 Capital 64,736 11.93 % 27,811 5.1 % Tier 1 Capital 85,237 15.71 % 35,950 6.6 % Total Risk Based Capital 91,378 16.84 % 46,803 8.6 % As of December 31, 2015 Leverage $ 80,401 9.43 % $ 34,092 4.0 % Common Equity Tier 1 Capital 60,375 11.05 % 24,584 4.5 % Tier 1 Capital 80,401 14.72 % 32,779 6.0 % Total Risk Based Capital 87,214 15.96 % 43,706 8.0 % *The ratios for June 30, 2016 include a capital conservation buffer of 0.625%. To be well-capitalized under prompt (Dollars in thousands) For capital corrective Actual adequacy purposes* action provisions Amount Ratio Amount Ratio Amount Ratio As of June 30, 2016 Leverage $ 83,830 9.53 % $ 35,198 4.0 % $ 43,998 5.0 % Common Equity Tier 1 Capital 83,830 15.50 % 27,716 5.1 % 35,153 6.5 % Tier 1 Capital 83,830 15.50 % 35,829 6.6 % 43,265 8.0 % Total Risk Based Capital 89,632 16.57 % 46,645 8.6 % 54,081 10.0 % As of December 31, 2015 Leverage $ 79,857 9.40 % $ 33,993 4.0 % $ 42,491 5.0 % Common Equity Tier 1 Capital 79,857 14.66 % 24,519 4.5 % 35,416 6.5 % Tier 1 Capital 79,857 14.66 % 32,692 6.0 % 43,589 8.0 % Total Risk Based Capital 85,929 15.77 % 43,589 8.0 % 54,486 10.0 % *The ratios for June 30, 2016 include a capital conservation buffer of 0.625% |
Impact of Recent Accounting Pro
Impact of Recent Accounting Pronouncements | 6 Months Ended |
Jun. 30, 2016 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | 9. Impact of Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606). The main provisions of the update require the identification of performance obligations within a contract and require the recognition of revenue based on a stand-alone allocation of contract revenue to each performance obligation. Performance obligations may be satisfied and revenue recognized over a period of time if: 1) the customer simultaneously receives and consumes the benefits provided by the entity’s performance as the entity performs, or 2) the entity’s performance creates or enhances an asset that the customer controls as the asset is created or enhanced, or 3) the entity’s performance does not create an asset with an alternative use to the entity, and the entity has an enforceable right to payment for performance completed to date. For public entities the amendments of the update are effective for annual reporting periods beginning after December 15, 2017 including interim periods within that reporting period. Management is evaluating the impact of adopting ASU 2014-09. In January 2016, the FASB issued ASU 2016-01, Financial Instruments (Topic 825): Recognition and Measurement of Financial Assets and Liabilities. The main provisions of the update are to eliminate the available for sale classification of accounting for equity securities and to adjust the fair value disclosures for financial instruments carried at amortized costs such that the disclosed fair values represent an exit price as opposed to an entry price. The provisions of this update will require that equity securities be carried at fair market value on the balance sheet and any periodic changes in value will be adjustments to the income statement. A practical expedient is provided for equity securities without a readily determinable fair value, such that these securities can be carried at cost less any impairment. The provisions of this update become effective for interim and annual periods beginning after December 15, 2017. Upon the effective date of the update, changes in the value of the Company's common stock investments will be adjustments to the income statement. Management does not expect the remaining requirements of this update to have a material impact on the Company’s financial position, results of operations or cash flows. In February 2016, the FASB issued an update (ASU No. 2016-02, Leases) creating FASB Topic 842, Leases. The guidance is intended to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and requiring more disclosures related to leasing transactions. The amendments in this update are effective for fiscal years, and interim periods within those years, beginning after December 15, 2018. Early adoption is permitted. The Company is currently evaluating the impact on the consolidated financial statements and related disclosures. In March 2016, the FASB issued an update (ASU No. 2016-09, Stock Compensation: Improvements to Employee Share-Based Payment Accounting.) The guidance in this update affects any entity that issues share-based payment awards including income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flow. The amendments in this update are effective for fiscal years, and interim periods within those years, beginning after December 15, 2016. Early adoption is permitted. The Company is currently evaluating the impact on the consolidated financial statements and related disclosures. In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326), commonly referred to as “CECL”. The provisions of the update eliminate the probable initial recognition threshold under current GAAP which requires reserves to be based on an incurred loss methodology. Under CECL reserves required for financial assets measured at amortized cost will reflect an organization’s estimate of all expected credit losses over the contractual term of the financial asset and thereby require the use of reasonable and supportable forecasts to estimate future credit losses. Because CECL encompasses all financial assets carried at amortized cost, the requirement that reserves be established based on an organization’s reasonable and supportable estimate of expected credit losses extends to held to maturity debt securities. Under the provisions of the update credit losses recognized on available for sale debt securities will be presented as an allowance as opposed to a write-down. In addition, CECL will modify the accounting for purchased loans, with credit deterioration since origination, so that reserves are established at the date of acquisition for purchased loans. Under current GAAP a purchased loan’s contractual balance is adjusted to fair value through a credit discount and no reserve is recorded on the purchased loan upon acquisition. Since under CECL reserves will be established for purchased loans at the time of acquisition the accounting for purchased loans is made more comparable to the accounting for originated loans. Finally, increased disclosure requirements under CECL oblige organizations to present the currently required credit quality disclosures disaggregated by the year of origination or vintage. FASB expects that the evaluation of underwriting standards and credit quality trends by financial statement users will be enhanced with the additional vintage disclosures. For public entities the amendments of the update are effective beginning January 1, 2020. Management is in the process of evaluating the impact of CECL on the Company’s financial position, results of operations and cash flows as well as its required disclosures. |
Investments (Tables)
Investments (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Investments, Debt and Equity Securities [Abstract] | |
Available-for-sale Securities [Table Text Block] | A summary of investment securities available-for-sale is as follows: As of June 30, 2016 Gross Gross Amortized unrealized unrealized Estimated (Dollars in thousands) cost gains losses fair value U. S. treasury securities $ 6,011 $ 38 $ - $ 6,049 U. S. federal agency obligations 27,721 269 (5) 27,985 Municipal obligations, tax exempt 150,554 5,203 (22) 155,735 Municipal obligations, taxable 71,998 2,268 - 74,266 Agency mortgage-backed securities 89,731 1,781 (11) 91,501 Common stocks 562 752 - 1,314 Certificates of deposit 9,700 - - 9,700 Total $ 356,277 $ 10,311 $ (38) $ 366,550 As of December 31, 2015 Gross Gross Amortized unrealized unrealized Estimated (Dollars in thousands) cost gains losses fair value U. S. treasury securities $ 6,517 $ 1 $ (1) $ 6,517 U. S. federal agency obligations 30,064 43 (187) 29,920 Municipal obligations, tax exempt 135,341 2,671 (71) 137,941 Municipal obligations, taxable 81,999 472 (581) 81,890 Agency mortgage-backed securities 85,829 391 (235) 85,985 Common stocks 580 906 - 1,486 Certificates of deposit 9,699 - - 9,699 Total $ 350,029 $ 4,484 $ (1,075) $ 353,438 |
Available For Sale Securities Continuous Unrealized Loss Position Fair Value [Table Text Block] | Securities which were temporarily impaired are shown below, along with the length of time in a continuous unrealized loss position. As of June 30, 2016 (Dollars in thousands) Less than 12 months 12 months or longer Total No. of Fair Unrealized Fair Unrealized Fair Unrealized securities value losses value losses value losses U.S. federal agency obligations 1 $ - $ - $ 3,200 $ (5) $ 3,200 $ (5) Municipal obligations, tax exempt 20 4,313 (20) 626 (2) 4,939 (22) Agency mortgage-backed securities 12 645 (1) 1,907 (10) 2,552 (11) Total 33 $ 4,958 $ (21) $ 5,733 $ (17) $ 10,691 $ (38) As of December 31, 2015 (Dollars in thousands) Less than 12 months 12 months or longer Total No. of Fair Unrealized Fair Unrealized Fair Unrealized securities value losses value losses value losses U.S. treasury securities 2 $ 3,542 $ (1) $ - $ - $ 3,542 $ (1) U. S. federal agency obligations 18 23,015 (163) 1,976 (24) 24,991 (187) Municipal obligations, tax exempt 47 11,328 (53) 2,132 (18) 13,460 (71) Municipal obligations, taxable 105 38,605 (494) 5,068 (87) 43,673 (581) Agency mortgage-backed securities 40 29,814 (166) 2,925 (69) 32,739 (235) Total 212 $ 106,304 $ (877) $ 12,101 $ (198) $ 118,405 $ (1,075) |
Investments Classified by Contractual Maturity Date [Table Text Block] | The table below of the amortized cost and estimated fair value of investment securities includes scheduled principal payments and estimated prepayments, based on observable market inputs, for agency mortgage-backed securities. Actual maturities will differ from contractual maturities because borrowers have the right to prepay obligations with or without prepayment penalties. The amortized cost and fair value of investment securities at June 30, 2016 are as follows: (Dollars in thousands) Amortized Estimated cost fair value Due in less than one year $ 17,508 $ 17,598 Due after one year but within five years 180,166 182,762 Due after five years but within ten years 88,657 92,255 Due after ten years 69,384 72,621 Common stocks 562 1,314 Total $ 356,277 $ 366,550 |
Schedule of Realized Gain (Loss) [Table Text Block] | Sales proceeds and gross realized gains and losses on sales of available-for-sale securities are as follows: (Dollars in thousands) Three months ended June 30, Six months ended June 30, 2016 2015 2016 2015 Sales proceeds $ 11,801 $ - $ 13,617 $ 19,069 Realized gains $ 296 $ - $ 312 $ 24 Realized losses (11) - (15) (278) Net realized losses $ 285 $ - $ 297 $ (254) |
Loans and Allowance for Loan 20
Loans and Allowance for Loan Losses (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Receivables [Abstract] | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | Loans consisted of the following as of the dates indicated below: June 30, December 31, (Dollars in thousands) 2016 2015 One-to-four family residential real estate $ 130,753 $ 131,930 Construction and land 18,381 15,043 Commercial real estate 119,147 118,983 Commercial loans 62,120 61,300 Agriculture loans 78,817 71,030 Municipal loans 7,263 7,635 Consumer loans 19,203 19,895 Total gross loans 435,684 425,816 Net deferred loan costs and loans in process 32 29 Allowance for loan losses (5,652) (5,922) Loans, net $ 430,064 $ 419,923 |
Allowance for Credit Losses on Financing Receivables [Table Text Block] | The following tables provide information on the Company’s activity in the allowance for loan losses by loan class: Three and six months ended June 30, 2016 (Dollars in thousands) One-to-four Construction Commercial Commercial Agriculture Municipal Consumer Total Allowance for loan losses: Balance at April 1, 2016 $ 864 $ 82 $ 1,831 $ 1,384 $ 1,483 $ 24 $ 201 $ 5,869 Charge-offs - - - (306) (83) - (148) (537) Recoveries 3 - - 1 - 6 10 20 Provision for loan losses (283) 7 (55) 314 200 (7) 124 300 Balance at June 30, 2016 584 89 1,776 1,393 1,600 23 187 5,652 Balance at January 1, 2016 $ 925 $ 77 $ 1,740 $ 1,530 $ 1,428 $ 23 $ 199 $ 5,922 Charge-offs - - - (306) (83) - (285) (674) Recoveries 5 - - 20 - 6 23 54 Provision for loan losses (346) 12 36 149 255 (6) 250 350 Balance at June 30, 2016 584 89 1,776 1,393 1,600 23 187 5,652 Three and six months ended June 30, 2015 (Dollars in thousands) One-to-four Construction Commercial Commercial Agriculture Municipal Consumer Total Allowance for loan losses: Balance at April 1, 2015 $ 1,386 $ 103 $ 1,600 $ 1,515 $ 1,104 $ 25 $ 172 $ 5,905 Charge-offs (9) - - (10) - - (88) (107) Recoveries 3 4 2 2 - - 8 19 Provision for loan losses (55) (9) (63) 249 (2) (4) 84 200 Balance at June 30, 2015 1,325 99 1,539 1,756 1,102 21 176 6,018 Balance at January 1, 2015 $ 755 $ 762 $ 1,832 $ 836 $ 915 $ 51 $ 169 $ 5,320 Charge-offs (9) - - (10) - (88) (142) (249) Recoveries 5 1,719 2 3 - - 18 1,747 Provision for loan losses 574 (2,382) (295) 927 187 58 131 (800) Balance at June 30, 2015 1,325 99 1,539 1,756 1,102 21 176 6,018 As of June 30, 2016 (Dollars in thousands) One-to-four Construction Commercial Commercial Agriculture Municipal Consumer Total Allowance for loan losses: Individually evaluated for loss 19 - - 13 206 - 7 245 Collectively evaluated for loss 565 89 1,776 1,380 1,394 23 180 5,407 Total 584 89 1,776 1,393 1,600 23 187 5,652 Loan balances: Individually evaluated for loss 1,106 2,061 2,417 127 879 393 102 7,085 Collectively evaluated for loss 129,647 16,320 116,730 61,993 77,938 6,870 19,101 428,599 Total $ 130,753 $ 18,381 $ 119,147 $ 62,120 $ 78,817 $ 7,263 $ 19,203 $ 435,684 As of December 31, 2015 (Dollars in thousands) One-to-four Construction Commercial Commercial Agriculture Municipal Consumer Total Allowance for loan losses: Individually evaluated for loss 78 - - - - - 10 88 Collectively evaluated for loss 847 77 1,740 1,530 1,428 23 189 5,834 Total 925 77 1,740 1,530 1,428 23 199 5,922 Loan balances: Individually evaluated for loss 752 2,220 2,429 620 189 591 36 6,837 Collectively evaluated for loss 131,178 12,823 116,554 60,680 70,841 7,044 19,859 418,979 Total $ 131,930 $ 15,043 $ 118,983 $ 61,300 $ 71,030 $ 7,635 $ 19,895 $ 425,816 |
Impaired Financing Receivables [Table Text Block] | The following tables present information on impaired loans: (Dollars in thousands) As of June 30, 2016 Unpaid Impaired Impaired Impaired Related Year-to- Year-to- One-to-four family residential real estate $ 1,106 $ 1,106 $ 502 $ 604 $ 19 $ 1,117 $ 4 Construction and land 3,796 2,061 2,061 - - 2,137 38 Commercial real estate 2,417 2,417 2,417 - - 2,426 253 Commercial loans 127 127 75 52 13 148 1 Agriculture loans 879 879 225 654 206 918 1 Municipal loans 393 393 393 - - 514 8 Consumer loans 102 102 86 16 7 106 - Total impaired loans $ 8,820 $ 7,085 $ 5,759 $ 1,326 $ 245 $ 7,366 $ 305 (Dollars in thousands) As of December 31, 2015 Unpaid Impaired Impaired Impaired Related Year-to- Year-to- One-to-four family residential real estate $ 752 $ 752 $ 408 $ 344 $ 78 $ 1,041 $ - Construction and land 3,955 2,220 2,220 - - 2,389 88 Commercial real estate 2,429 2,429 2,429 - - 2,484 175 Commercial loans 637 620 620 - - 634 3 Agriculture loans 189 189 189 - - 188 3 Municipal loans 591 591 591 - - 631 19 Consumer loans 36 36 10 26 10 41 - Total impaired loans $ 8,589 $ 6,837 $ 6,467 $ 370 $ 88 $ 7,408 $ 288 |
Past Due Financing Receivables [Table Text Block] | The following tables present information on the Company’s past due and non-accrual loans by loan class: (Dollars in thousands) As of June 30, 2016 30-59 days 60-89 days 90 days or Total past Non-accrual Total past Total loans One-to-four family residential real estate $ 140 $ 512 $ - $ 652 $ 916 $ 1,568 $ 129,185 Construction and land 5 - - 5 607 612 17,769 Commercial real estate 10 237 - 247 39 286 118,861 Commercial loans - - - - 96 96 62,024 Agriculture loans 174 30 218 422 834 1,256 77,561 Municipal loans - - - - - - 7,263 Consumer loans 82 23 - 105 102 207 18,996 Total $ 411 $ 802 $ 218 $ 1,431 $ 2,594 $ 4,025 $ 431,659 Percent of gross loans 0.09 % 0.18 % 0.05 % 0.32 % 0.60 % 0.92 % 99.08 % (Dollars in thousands) As of December 31, 2015 30-59 days 60-89 days 90 days or Total past Non-accrual Total past Total loans One-to-four family residential real estate $ 70 $ 712 $ - $ 782 $ 749 $ 1,531 $ 130,399 Construction and land 4 - - 4 614 618 14,425 Commercial real estate 240 - - 240 47 287 118,696 Commercial loans 90 40 - 130 583 713 60,587 Agriculture loans 174 5 - 179 139 318 70,712 Municipal loans - - - - - - 7,635 Consumer loans 65 2 - 67 36 103 19,792 Total $ 643 $ 759 $ - $ 1,402 $ 2,168 $ 3,570 $ 422,246 Percent of gross loans 0.15 % 0.18 % 0.00 % 0.33 % 0.51 % 0.84 % 99.16 % |
Risk Categories By Loan Class [Table Text Block] | The following table provides information on the Company’s risk categories by loan class: As of June 30, 2016 As of December 31, 2015 (Dollars in thousands) Nonclassified Classified Nonclassified Classified One-to-four family residential real estate $ 129,286 $ 1,467 $ 130,575 $ 1,355 Construction and land 17,638 743 14,429 614 Commercial real estate 109,454 9,693 111,016 7,967 Commercial loans 58,875 3,245 58,862 2,438 Agriculture loans 72,179 6,638 68,186 2,844 Municipal loans 7,263 - 7,635 - Consumer loans 19,084 119 19,839 56 Total 413,779 21,905 410,542 15,274 |
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | (Dollars in thousands) As of June 30, 2016 As of December 31, 2015 Number of Non-accrual Accruing Number of Non-accrual Accruing One-to-four family residential real estate 2 $ - $ 190 2 $ 55 $ 3 Construction and land 4 594 1,454 4 600 1,606 Commercial real estate 3 - 2,378 3 - 2,382 Commercial loans 2 - 31 1 - 37 Agriculture 1 - 45 2 - 50 Municipal loans 2 - 393 2 - 591 Total troubled debt restructurings 14 $ 594 $ 4,491 14 $ 655 $ 4,669 |
Goodwill and Other Intangible21
Goodwill and Other Intangible Assets (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Intangible Assets and Goodwill [Table Text Block] | A summary of the other intangible assets that continue to be subject to amortization is as follows: (Dollars in thousands) As of June 30, 2016 Gross carrying Accumulated Net carrying Core deposit intangible assets $ 2,067 $ (1,000) $ 1,067 Lease intangible asset 350 (120) 230 Mortgage servicing rights 5,580 (2,729) 2,851 Total other intangible assets $ 7,997 $ (3,849) $ 4,148 (Dollars in thousands) As of December 31, 2015 Gross carrying Accumulated Net carrying Core deposit intangible assets $ 2,067 $ (855) $ 1,212 Lease intangible asset 350 (98) 252 Mortgage servicing rights 5,322 (2,482) 2,840 Total other intangible assets $ 7,739 $ (3,435) $ 4,304 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | The following sets forth estimated amortization expense for core deposit and lease intangible assets for the remainder of 2016 and in successive years ending December 31: (Dollars in thousands) Amortization expense Remainder of 2016 $ 160 2017 289 2018 252 2019 214 2020 177 Thereafter 205 Total $ 1,297 |
Schedule of Participating Mortgage Loans [Table Text Block] | The following table provides information on the principal balances of mortgage loans serviced for others: (Dollars in thousands) June 30, December 31, 2016 2015 FHLMC $ 467,663 $ 444,714 FHLB 12,685 14,039 |
Servicing Asset at Amortized Cost [Table Text Block] | Activity for mortgage servicing rights and the related valuation allowance follows: (Dollars in thousands) Three months ended June 30, Six months ended June 30, 2016 2015 2016 2015 Mortgage servicing rights: Balance at beginning of period $ 2,808 $ 2,557 $ 2,840 $ 2,477 Additions 291 408 512 710 Amortization (248) (236) (501) (458) Balance at end of period $ 2,851 $ 2,729 $ 2,851 $ 2,729 |
Earnings per Share (Tables)
Earnings per Share (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | The shares used in the calculation of basic and diluted earnings per share are shown below: Three months ended Six months ended (Dollars in thousands, except per share amounts) June 30 June 30 2016 2015 2016 2015 Net earnings $ 2,245 $ 2,616 $ 4,522 $ 5,393 Weighted average common shares outstanding - basic (1) 3,613,671 3,504,295 3,585,235 3,503,495 Assumed exercise of stock options (1) 76,324 109,128 75,064 103,749 Weighted average common shares outstanding - diluted (1) 3,689,995 3,613,423 3,660,299 3,607,244 Net earnings per share (1): Basic $ 0.62 $ 0.75 $ 1.26 $ 1.54 Diluted $ 0.61 $ 0.72 $ 1.24 $ 1.50 (1) Share and per share values for the periods ended June 30, 2015 have been adjusted to give effect to the 5 |
Repurchase Agreements (Tables)
Repurchase Agreements (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Banking and Thrift [Abstract] | |
Schedule of Repurchase Agreements [Table Text Block] | The Company has overnight repurchase agreements with certain deposit customers whereby the Company uses investment securities as collateral for non-insured funds. These balances are accounted for as collateralized financing and included in other borrowings on the balance sheet. The following is a summary of the balances of and collateral for the Company’s repurchase agreements: As of June 30, 2016 Overnight and Greater Continuous Up to 30 days 30-90 days than 90 days Total Repurchase agreements: U.S. federal agency obligations $ 5,063 $ - $ - $ - $ 5,063 Agency mortgage-backed securities 6,464 - - - 6,464 Total $ 11,527 $ - $ - $ - $ 11,527 As of December 31, 2015 Overnight and Up to Greater Continuous 30 days 30-90 days than 90 days Total Repurchase agreements: U.S. federal agency obligations $ 5,810 $ - $ - $ - $ 5,810 Agency mortgage-backed securities 6,164 - - - 6,164 Total $ 11,974 $ - $ - $ - $ 11,974 |
Fair Value of Financial Instr24
Fair Value of Financial Instruments and Fair Value Measurements (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Fair Value Disclosures [Abstract] | |
Fair Value, by Balance Sheet Grouping [Table Text Block] | Fair value estimates of the Company’s financial instruments as of June 30, 2016 and December 31, 2015, including methods and assumptions utilized, are set forth below: (Dollars in thousands) As of June 30, 2016 Carrying amount Level 1 Level 2 Level 3 Total Financial assets: Cash and cash equivalents $ 14,317 $ 14,317 $ - $ - $ 14,317 Investment securities available-for-sale 366,550 7,363 359,187 - 366,550 Bank stocks, at cost 4,622 n/a n/a n/a n/a Loans, net 430,064 - - 431,483 431,483 Loans held for sale, net 10,057 - 10,062 - 10,062 Derivative financial instruments 615 - 615 - 615 Accrued interest receivable 3,927 22 1,979 1,926 3,927 Financial liabilities: Non-maturity deposits $ (566,971) $ (566,971) $ - $ - (566,971) Time deposits (148,650) - (148,116) - (148,116) FHLB borrowings (48,000) - (49,247) - (49,247) Subordinated debentures (21,184) - (18,812) - (18,812) Other borrowings (11,527) - (11,527) - (11,527) Accrued interest payable (271) - (271) - (271) As of December 31, 2015 Carrying amount Level 1 Level 2 Level 3 Total Financial assets: Cash and cash equivalents $ 13,569 $ 13,569 $ - $ - $ 13,569 Investment securities available-for-sale 353,438 8,003 345,435 - 353,438 Bank stocks, at cost 4,497 n/a n/a n/a n/a Loans, net 419,923 - - 420,061 420,061 Derivative financial instruments 797 - 797 - 797 Accrued interest receivable 4,002 22 2,117 1,863 4,002 Financial liabilities: Non-maturity deposits $ (570,784) $ (570,784) $ - $ - $ (570,784) Time deposits (143,943) - (142,924) - (142,924) FHLB borrowings (37,600) - (38,215) - (38,215) Subordinated debentures (2,184) - (19,051) - (19,051) Other borrowings (11,974) - (11,974) - (11,974) Accrued interest payable (287) - (287) - (287) |
Fair Value, Assets Measured On Recurring Basis [Table Text Block] | The following table represents the Company’s financial instruments that are measured at fair value on a recurring basis at June 30, 2016 and December 31, 2015, allocated to the appropriate fair value hierarchy: (Dollars in thousands) As of June 30, 2016 Fair value hierarchy Total Level 1 Level 2 Level 3 Assets: Available-for-sale investment securities U. S. treasury securities $ 6,049 $ 6,049 $ - $ - U. S. federal agency obligations 27,985 - 27,985 - Municipal obligations, tax exempt 155,735 - 155,735 - Municipal obligations, taxable 74,266 - 74,266 - Agency mortgage-backed securities 91,501 - 91,501 - Common stocks 1,314 1,314 - - Certificates of deposit 9,700 - 9,700 - Derivative financial instruments $ 615 $ - $ 615 $ - (Dollars in thousands) As of December 31, 2015 Fair value hierarchy Total Level 1 Level 2 Level 3 Assets: Available-for-sale investment securities U. S. treasury securities $ 6,517 $ 6,517 $ - $ - U. S. federal agency obligations 29,920 - 29,920 - Municipal obligations, tax exempt 137,941 - 137,941 - Municipal obligations, taxable 81,890 - 81,890 - Agency mortgage-backed securities 85,985 - 85,985 - Common stocks 1,486 1,486 - - Certificates of deposit 9,699 - 9,699 - Derivative financial instruments 797 - 797 - |
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block] | The following table represents the Company’s financial instruments that are measured at fair value on a non-recurring basis as of June 30, 2016 and December 31, 2015 allocated to the appropriate fair value hierarchy: (Dollars in thousands) As of June 30, 2016 Total Fair value hierarchy gains/ Total Level 1 Level 2 Level 3 (losses) Assets: Impaired loans: One-to-four family residential real estate $ 585 $ - $ - $ 585 $ 3 Commercial loans 39 - - 39 (13) Agriculture loans 448 - - 448 (206) Consumer loans 9 - - 9 2 As of December 31, 2015 Total Fair value hierarchy (losses)/ Total Level 1 Level 2 Level 3 gains Assets: Impaired loans: One-to-four family residential real estate $ 266 $ - $ - $ 266 $ (137) Consumer loans 16 - - 16 6 Loans held for sale 14,465 - 14,465 - (10) |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Table Text Block] | The following table presents quantitative information about Level 3 fair value measurements for impaired loans measured at fair value on a non-recurring basis as of June 30, 2016 and December 31, 2015. (Dollars in thousands) Fair value Valuation technique Unobservable inputs Range As of June 30, 2016 Impaired loans: One-to-four family residential real estate $ 585 Sales comparison Adjustment to appraised value 6%-40 % Commercial loans 39 Sales comparison Adjustment to appraised value 15 % Agriculture loans 448 Sales comparison Adjustment to appraised value 20%-50 % Consumer loans 9 Sales comparison Adjustment to appraised value 0 % As of December 31, 2015 Impaired loans: One-to-four family residential real estate $ 266 Sales comparison Adjustment to appraised value 0%-40 % Consumer loans 16 Sales comparison Adjustment to comparable sales 0 % |
Regulatory Capital Requiremen25
Regulatory Capital Requirements (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Banking and Thrift [Abstract] | |
Schedule of Compliance with Regulatory Capital Requirements for Mortgage Companies [Table Text Block] | The following is a comparison of the Company’s regulatory capital to minimum capital requirements at June 30, 2016 and December 31, 2015: (Dollars in thousands) For capital Actual adequacy purposes* Amount Ratio Amount Ratio As of June 30, 2016 Leverage $ 85,237 9.66 % $ 35,286 4.0 % Common Equity Tier 1 Capital 64,736 11.93 % 27,811 5.1 % Tier 1 Capital 85,237 15.71 % 35,950 6.6 % Total Risk Based Capital 91,378 16.84 % 46,803 8.6 % As of December 31, 2015 Leverage $ 80,401 9.43 % $ 34,092 4.0 % Common Equity Tier 1 Capital 60,375 11.05 % 24,584 4.5 % Tier 1 Capital 80,401 14.72 % 32,779 6.0 % Total Risk Based Capital 87,214 15.96 % 43,706 8.0 % *The ratios for June 30, 2016 include a capital conservation buffer of 0.625%. |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | To be well-capitalized under prompt (Dollars in thousands) For capital corrective Actual adequacy purposes* action provisions Amount Ratio Amount Ratio Amount Ratio As of June 30, 2016 Leverage $ 83,830 9.53 % $ 35,198 4.0 % $ 43,998 5.0 % Common Equity Tier 1 Capital 83,830 15.50 % 27,716 5.1 % 35,153 6.5 % Tier 1 Capital 83,830 15.50 % 35,829 6.6 % 43,265 8.0 % Total Risk Based Capital 89,632 16.57 % 46,645 8.6 % 54,081 10.0 % As of December 31, 2015 Leverage $ 79,857 9.40 % $ 33,993 4.0 % $ 42,491 5.0 % Common Equity Tier 1 Capital 79,857 14.66 % 24,519 4.5 % 35,416 6.5 % Tier 1 Capital 79,857 14.66 % 32,692 6.0 % 43,589 8.0 % Total Risk Based Capital 85,929 15.77 % 43,589 8.0 % 54,486 10.0 % *The ratios for June 30, 2016 include a capital conservation buffer of 0.625% |
Investments (Details)
Investments (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost | $ 356,277 | $ 350,029 |
Gross unrealized gains | 10,311 | 4,484 |
Gross unrealized losses | (38) | (1,075) |
Estimated fair value | 366,550 | 353,438 |
U. S. treasury securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost | 6,011 | 6,517 |
Gross unrealized gains | 38 | 1 |
Gross unrealized losses | 0 | (1) |
Estimated fair value | 6,049 | 6,517 |
Common stocks [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost | 562 | 580 |
Gross unrealized gains | 752 | 906 |
Gross unrealized losses | 0 | 0 |
Estimated fair value | 1,314 | 1,486 |
U. S. federal agency obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost | 27,721 | 30,064 |
Gross unrealized gains | 269 | 43 |
Gross unrealized losses | (5) | (187) |
Estimated fair value | 27,985 | 29,920 |
Municipal obligations, tax exempt [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost | 150,554 | 135,341 |
Gross unrealized gains | 5,203 | 2,671 |
Gross unrealized losses | (22) | (71) |
Estimated fair value | 155,735 | 137,941 |
Municipal obligations, taxable [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost | 71,998 | 81,999 |
Gross unrealized gains | 2,268 | 472 |
Gross unrealized losses | 0 | (581) |
Estimated fair value | 74,266 | 81,890 |
Agency mortgage-backed securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost | 89,731 | 85,829 |
Gross unrealized gains | 1,781 | 391 |
Gross unrealized losses | (11) | (235) |
Estimated fair value | 91,501 | 85,985 |
Certificates of deposit [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost | 9,700 | 9,699 |
Gross unrealized gains | 0 | 0 |
Gross unrealized losses | 0 | 0 |
Estimated fair value | $ 9,700 | $ 9,699 |
Investments (Details 1)
Investments (Details 1) $ in Thousands | Jun. 30, 2016USD ($)Number | Dec. 31, 2015USD ($)Number |
Schedule of Available-for-sale Securities [Line Items] | ||
No. of securities | Number | 33 | 212 |
Fair value, Less than 12 months | $ 4,958 | $ 106,304 |
Unrealized losses, Less than 12 months | (21) | (877) |
Fair value, 12 months or longer | 5,733 | 12,101 |
Unrealized losses, 12 months or longer | (17) | (198) |
Total, Fair value | 10,691 | 118,405 |
Total, Unrealized losses | $ (38) | $ (1,075) |
U. S. treasury securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
No. of securities | Number | 2 | |
Fair value, Less than 12 months | $ 3,542 | |
Unrealized losses, Less than 12 months | (1) | |
Fair value, 12 months or longer | 0 | |
Unrealized losses, 12 months or longer | 0 | |
Total, Fair value | 3,542 | |
Total, Unrealized losses | $ (1) | |
U.S. federal agency obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
No. of securities | Number | 1 | 18 |
Fair value, Less than 12 months | $ 0 | $ 23,015 |
Unrealized losses, Less than 12 months | 0 | (163) |
Fair value, 12 months or longer | 3,200 | 1,976 |
Unrealized losses, 12 months or longer | (5) | (24) |
Total, Fair value | 3,200 | 24,991 |
Total, Unrealized losses | $ (5) | $ (187) |
Municipal obligations, tax exempt [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
No. of securities | Number | 20 | 47 |
Fair value, Less than 12 months | $ 4,313 | $ 11,328 |
Unrealized losses, Less than 12 months | (20) | (53) |
Fair value, 12 months or longer | 626 | 2,132 |
Unrealized losses, 12 months or longer | (2) | (18) |
Total, Fair value | 4,939 | 13,460 |
Total, Unrealized losses | $ (22) | $ (71) |
Municipal obligations, taxable [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
No. of securities | Number | 105 | |
Fair value, Less than 12 months | $ 38,605 | |
Unrealized losses, Less than 12 months | (494) | |
Fair value, 12 months or longer | 5,068 | |
Unrealized losses, 12 months or longer | (87) | |
Total, Fair value | 43,673 | |
Total, Unrealized losses | $ (581) | |
Agency mortgage-backed securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
No. of securities | Number | 12 | 40 |
Fair value, Less than 12 months | $ 645 | $ 29,814 |
Unrealized losses, Less than 12 months | (1) | (166) |
Fair value, 12 months or longer | 1,907 | 2,925 |
Unrealized losses, 12 months or longer | (10) | (69) |
Total, Fair value | 2,552 | 32,739 |
Total, Unrealized losses | $ (11) | $ (235) |
Investments (Details 2)
Investments (Details 2) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost, Due in less than one year | $ 17,508 | |
Amortized cost, Due after one year but within five years | 180,166 | |
Amortized cost, Due after five years but within ten years | 88,657 | |
Amortized cost, Due after ten years | 69,384 | |
Amortized cost | 356,277 | $ 350,029 |
Amortized cost, Total | 356,277 | |
Estimated fair value, Due in less than one year | 17,598 | |
Estimated fair value, Due after one year but within five years | 182,762 | |
Estimated fair value, Due after five years but within ten years | 92,255 | |
Estimated fair value, Due after ten years | 72,621 | |
Estimated fair value | 366,550 | 353,438 |
Securities available-for-sale, at fair value | 366,550 | 353,438 |
Common Stock [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost | 562 | 580 |
Estimated fair value | 1,314 | 1,486 |
Securities available-for-sale, at fair value | $ 1,314 | $ 1,486 |
Investments (Details 3)
Investments (Details 3) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Schedule of Available-for-sale Securities [Line Items] | ||||
Sales proceeds | $ 11,801 | $ 0 | $ 13,617 | $ 19,069 |
Realized gains | 296 | 0 | 312 | 24 |
Realized losses | (11) | 0 | (15) | (278) |
Net realized gains (losses) | $ 285 | $ 0 | $ 297 | $ (254) |
Investments (Details Textual)
Investments (Details Textual) - USD ($) $ in Millions | Jun. 30, 2016 | Dec. 31, 2015 |
Schedule of Available-for-sale Securities [Line Items] | ||
Security Owned and Pledged as Collateral, Fair Value, Total | $ 201.8 | $ 171.6 |
Loans and Allowance for Loan 31
Loans and Allowance for Loan Losses (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Total gross loans | $ 435,684 | $ 425,816 | ||||
Net deferred loan costs and loans in process | 32 | 29 | ||||
Allowance for loan losses | (5,652) | $ (5,869) | (5,922) | $ (6,018) | $ (5,905) | $ (5,320) |
Loans, net | 430,064 | 419,923 | ||||
Residential Real Estate [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Total gross loans | 130,753 | 131,930 | ||||
Allowance for loan losses | (584) | (864) | (925) | (1,325) | (1,386) | (755) |
Loans, net | 130,753 | 131,930 | ||||
Construction Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Total gross loans | 18,381 | 15,043 | ||||
Allowance for loan losses | (89) | (82) | (77) | (99) | (103) | (762) |
Loans, net | 18,381 | 15,043 | ||||
Commercial Real Estate [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Total gross loans | 119,147 | 118,983 | ||||
Allowance for loan losses | (1,776) | (1,831) | (1,740) | (1,539) | (1,600) | (1,832) |
Loans, net | 119,147 | 118,983 | ||||
Commercial Loan [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Total gross loans | 62,120 | 61,300 | ||||
Allowance for loan losses | (1,393) | (1,384) | (1,530) | (1,756) | (1,515) | (836) |
Loans, net | 62,120 | 61,300 | ||||
Agriculture Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Total gross loans | 78,817 | 71,030 | ||||
Allowance for loan losses | (1,600) | (1,483) | (1,428) | (1,102) | (1,104) | (915) |
Loans, net | 78,817 | 71,030 | ||||
Municipal Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Total gross loans | 7,263 | 7,635 | ||||
Allowance for loan losses | (23) | (24) | (23) | (21) | (25) | (51) |
Loans, net | 7,263 | 7,635 | ||||
Consumer Loan [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Total gross loans | 19,203 | 19,895 | ||||
Allowance for loan losses | (187) | $ (201) | (199) | $ (176) | $ (172) | $ (169) |
Loans, net | $ 19,203 | $ 19,895 |
Loans and Allowance for Loan 32
Loans and Allowance for Loan Losses (Details 1) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Dec. 31, 2015 | |
Allowance for loan losses: | ||||||
Balance | $ 5,869 | $ 5,905 | $ 5,922 | $ 5,320 | ||
Charge-offs | (537) | (107) | (674) | (249) | ||
Recoveries | 20 | 19 | 54 | 1,747 | ||
Provision for loan losses | 300 | 200 | 350 | (800) | ||
Balance | 5,652 | 6,018 | 5,652 | 6,018 | ||
Allowance for loan losses: | ||||||
Individually evaluated for loss | $ 245 | $ 88 | ||||
Collectively evaluated for loss | 5,407 | 5,834 | ||||
Total | 5,869 | 5,905 | 5,652 | 6,018 | 5,652 | 5,922 |
Loan balances: | ||||||
Individually evaluated for loss | 7,085 | 6,837 | ||||
Collectively evaluated for loss | 428,599 | 418,979 | ||||
Total | 430,064 | 419,923 | ||||
Residential Real Estate [Member] | ||||||
Allowance for loan losses: | ||||||
Balance | 864 | 1,386 | 925 | 755 | ||
Charge-offs | 0 | (9) | 0 | (9) | ||
Recoveries | 3 | 3 | 5 | 5 | ||
Provision for loan losses | (283) | (55) | (346) | 574 | ||
Balance | 584 | 1,325 | 584 | 1,325 | ||
Allowance for loan losses: | ||||||
Individually evaluated for loss | 19 | 78 | ||||
Collectively evaluated for loss | 565 | 847 | ||||
Total | 864 | 1,386 | 584 | 1,325 | 584 | 925 |
Loan balances: | ||||||
Individually evaluated for loss | 1,106 | 752 | ||||
Collectively evaluated for loss | 129,647 | 131,178 | ||||
Total | 130,753 | 131,930 | ||||
Construction Loans [Member] | ||||||
Allowance for loan losses: | ||||||
Balance | 82 | 103 | 77 | 762 | ||
Charge-offs | 0 | 0 | 0 | 0 | ||
Recoveries | 0 | 4 | 0 | 1,719 | ||
Provision for loan losses | 7 | (9) | 12 | (2,382) | ||
Balance | 89 | 99 | 89 | 99 | ||
Allowance for loan losses: | ||||||
Individually evaluated for loss | 0 | 0 | ||||
Collectively evaluated for loss | 89 | 77 | ||||
Total | 82 | 103 | 89 | 99 | 89 | 77 |
Loan balances: | ||||||
Individually evaluated for loss | 2,061 | 2,220 | ||||
Collectively evaluated for loss | 16,320 | 12,823 | ||||
Total | 18,381 | 15,043 | ||||
Commercial Real Estate [Member] | ||||||
Allowance for loan losses: | ||||||
Balance | 1,831 | 1,600 | 1,740 | 1,832 | ||
Charge-offs | 0 | 0 | 0 | 0 | ||
Recoveries | 0 | 2 | 0 | 2 | ||
Provision for loan losses | (55) | (63) | 36 | (295) | ||
Balance | 1,776 | 1,539 | 1,776 | 1,539 | ||
Allowance for loan losses: | ||||||
Individually evaluated for loss | 0 | 0 | ||||
Collectively evaluated for loss | 1,776 | 1,740 | ||||
Total | 1,831 | 1,600 | 1,776 | 1,539 | 1,776 | 1,740 |
Loan balances: | ||||||
Individually evaluated for loss | 2,417 | 2,429 | ||||
Collectively evaluated for loss | 116,730 | 116,554 | ||||
Total | 119,147 | 118,983 | ||||
Commercial Loan [Member] | ||||||
Allowance for loan losses: | ||||||
Balance | 1,384 | 1,515 | 1,530 | 836 | ||
Charge-offs | (306) | (10) | (306) | (10) | ||
Recoveries | 1 | 2 | 20 | 3 | ||
Provision for loan losses | 314 | 249 | 149 | 927 | ||
Balance | 1,393 | 1,756 | 1,393 | 1,756 | ||
Allowance for loan losses: | ||||||
Individually evaluated for loss | 13 | 0 | ||||
Collectively evaluated for loss | 1,380 | 1,530 | ||||
Total | 1,384 | 1,515 | 1,393 | 1,756 | 1,393 | 1,530 |
Loan balances: | ||||||
Individually evaluated for loss | 127 | 620 | ||||
Collectively evaluated for loss | 61,993 | 60,680 | ||||
Total | 62,120 | 61,300 | ||||
Agriculture Loans [Member] | ||||||
Allowance for loan losses: | ||||||
Balance | 1,483 | 1,104 | 1,428 | 915 | ||
Charge-offs | (83) | 0 | (83) | 0 | ||
Recoveries | 0 | 0 | 0 | 0 | ||
Provision for loan losses | 200 | (2) | 255 | 187 | ||
Balance | 1,600 | 1,102 | 1,600 | 1,102 | ||
Allowance for loan losses: | ||||||
Individually evaluated for loss | 206 | 0 | ||||
Collectively evaluated for loss | 1,394 | 1,428 | ||||
Total | 1,483 | 1,104 | 1,600 | 1,102 | 1,600 | 1,428 |
Loan balances: | ||||||
Individually evaluated for loss | 879 | 189 | ||||
Collectively evaluated for loss | 77,938 | 70,841 | ||||
Total | 78,817 | 71,030 | ||||
Municipal Loans [Member] | ||||||
Allowance for loan losses: | ||||||
Balance | 24 | 25 | 23 | 51 | ||
Charge-offs | 0 | 0 | 0 | (88) | ||
Recoveries | 6 | 0 | 6 | 0 | ||
Provision for loan losses | (7) | (4) | (6) | 58 | ||
Balance | 23 | 21 | 23 | 21 | ||
Allowance for loan losses: | ||||||
Individually evaluated for loss | 0 | 0 | ||||
Collectively evaluated for loss | 23 | 23 | ||||
Total | 24 | 25 | 23 | 21 | 23 | 23 |
Loan balances: | ||||||
Individually evaluated for loss | 393 | 591 | ||||
Collectively evaluated for loss | 6,870 | 7,044 | ||||
Total | 7,263 | 7,635 | ||||
Consumer Loan [Member] | ||||||
Allowance for loan losses: | ||||||
Balance | 201 | 172 | 199 | 169 | ||
Charge-offs | (148) | (88) | (285) | (142) | ||
Recoveries | 10 | 8 | 23 | 18 | ||
Provision for loan losses | 124 | 84 | 250 | 131 | ||
Balance | 187 | 176 | 187 | 176 | ||
Allowance for loan losses: | ||||||
Individually evaluated for loss | 7 | 10 | ||||
Collectively evaluated for loss | 180 | 189 | ||||
Total | $ 201 | $ 172 | $ 187 | $ 176 | 187 | 199 |
Loan balances: | ||||||
Individually evaluated for loss | 102 | 36 | ||||
Collectively evaluated for loss | 19,101 | 19,859 | ||||
Total | $ 19,203 | $ 19,895 |
Loans and Allowance for Loan 33
Loans and Allowance for Loan Losses (Details 2) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2016 | Dec. 31, 2015 | |
Financing Receivable, Impaired [Line Items] | ||
Unpaid contractual principal | $ 8,820 | $ 8,589 |
Impaired loan balance | 7,085 | 6,837 |
Impaired loans without an allowance | 5,759 | 6,467 |
Impaired loans with an allowance | 1,326 | 370 |
Related allowance recorded | 245 | 88 |
Year-to-date average loan balance | 7,366 | 7,408 |
Year-to-date interest income recognized | 305 | 288 |
Residential Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid contractual principal | 1,106 | 752 |
Impaired loan balance | 1,106 | 752 |
Impaired loans without an allowance | 502 | 408 |
Impaired loans with an allowance | 604 | 344 |
Related allowance recorded | 19 | 78 |
Year-to-date average loan balance | 1,117 | 1,041 |
Year-to-date interest income recognized | 4 | 0 |
Construction Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid contractual principal | 3,796 | 3,955 |
Impaired loan balance | 2,061 | 2,220 |
Impaired loans without an allowance | 2,061 | 2,220 |
Impaired loans with an allowance | 0 | 0 |
Related allowance recorded | 0 | 0 |
Year-to-date average loan balance | 2,137 | 2,389 |
Year-to-date interest income recognized | 38 | 88 |
Commercial Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid contractual principal | 2,417 | 2,429 |
Impaired loan balance | 2,417 | 2,429 |
Impaired loans without an allowance | 2,417 | 2,429 |
Impaired loans with an allowance | 0 | 0 |
Related allowance recorded | 0 | 0 |
Year-to-date average loan balance | 2,426 | 2,484 |
Year-to-date interest income recognized | 253 | 175 |
Commercial Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid contractual principal | 127 | 637 |
Impaired loan balance | 127 | 620 |
Impaired loans without an allowance | 75 | 620 |
Impaired loans with an allowance | 52 | 0 |
Related allowance recorded | 13 | 0 |
Year-to-date average loan balance | 148 | 634 |
Year-to-date interest income recognized | 1 | 3 |
Agriculture Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid contractual principal | 879 | 189 |
Impaired loan balance | 879 | 189 |
Impaired loans without an allowance | 225 | 189 |
Impaired loans with an allowance | 654 | 0 |
Related allowance recorded | 206 | 0 |
Year-to-date average loan balance | 918 | 188 |
Year-to-date interest income recognized | 1 | 3 |
Municipal Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid contractual principal | 393 | 591 |
Impaired loan balance | 393 | 591 |
Impaired loans without an allowance | 393 | 591 |
Impaired loans with an allowance | 0 | 0 |
Related allowance recorded | 0 | 0 |
Year-to-date average loan balance | 514 | 631 |
Year-to-date interest income recognized | 8 | 19 |
Consumer Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid contractual principal | 102 | 36 |
Impaired loan balance | 102 | 36 |
Impaired loans without an allowance | 86 | 10 |
Impaired loans with an allowance | 16 | 26 |
Related allowance recorded | 7 | 10 |
Year-to-date average loan balance | 106 | 41 |
Year-to-date interest income recognized | $ 0 | $ 0 |
Loans and Allowance for Loan 34
Loans and Allowance for Loan Losses (Details 3) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2016 | Dec. 31, 2015 | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, 90 days or more delinquent and accruing | $ 218 | $ 0 |
Loans, Total past due loans accruing | 1,431 | 1,402 |
Loans, Non-accrual loans | 2,594 | 2,168 |
Loans, Total past due and non-accrual loans | 4,025 | 3,570 |
Loans, Total loans not past due | $ 431,659 | $ 422,246 |
Percent of gross loans, 30-59 days delinquent and accruing | 0.09% | 0.15% |
Percent of gross loans, 60-89 days delinquent and accruing | 0.18% | 0.18% |
Percent of gross loans, 90 days or more delinquent and accruing | 0.05% | 0.00% |
Percentage of gross loans, Total past due loans accruing | 0.32% | 0.33% |
Percent of gross loans, Non-accrual loans | 0.60% | 0.51% |
Percentage of Total past due and non-accrual loans | 0.92% | 0.84% |
Percentage of Total loans not past due | 99.08% | 99.16% |
Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | $ 411 | $ 643 |
Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 802 | 759 |
Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, 90 days or more delinquent and accruing | 0 | 0 |
Loans, Total past due loans accruing | 652 | 782 |
Loans, Non-accrual loans | 916 | 749 |
Loans, Total past due and non-accrual loans | 1,568 | 1,531 |
Loans, Total loans not past due | 129,185 | 130,399 |
Residential Real Estate [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 140 | 70 |
Residential Real Estate [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 512 | 712 |
Construction Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, 90 days or more delinquent and accruing | 0 | 0 |
Loans, Total past due loans accruing | 5 | 4 |
Loans, Non-accrual loans | 607 | 614 |
Loans, Total past due and non-accrual loans | 612 | 618 |
Loans, Total loans not past due | 17,769 | 14,425 |
Construction Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 5 | 4 |
Construction Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, 90 days or more delinquent and accruing | 0 | 0 |
Loans, Total past due loans accruing | 247 | 240 |
Loans, Non-accrual loans | 39 | 47 |
Loans, Total past due and non-accrual loans | 286 | 287 |
Loans, Total loans not past due | 118,861 | 118,696 |
Commercial Real Estate [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 10 | 240 |
Commercial Real Estate [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 237 | 0 |
Commercial Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, 90 days or more delinquent and accruing | 0 | 0 |
Loans, Total past due loans accruing | 0 | 130 |
Loans, Non-accrual loans | 96 | 583 |
Loans, Total past due and non-accrual loans | 96 | 713 |
Loans, Total loans not past due | 62,024 | 60,587 |
Commercial Loan [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 90 |
Commercial Loan [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 40 |
Agriculture Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, 90 days or more delinquent and accruing | 218 | 0 |
Loans, Total past due loans accruing | 422 | 179 |
Loans, Non-accrual loans | 834 | 139 |
Loans, Total past due and non-accrual loans | 1,256 | 318 |
Loans, Total loans not past due | 77,561 | 70,712 |
Agriculture Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 174 | 174 |
Agriculture Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 30 | 5 |
Municipal Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, 90 days or more delinquent and accruing | 0 | 0 |
Loans, Total past due loans accruing | 0 | 0 |
Loans, Non-accrual loans | 0 | 0 |
Loans, Total past due and non-accrual loans | 0 | 0 |
Loans, Total loans not past due | 7,263 | 7,635 |
Municipal Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Municipal Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Consumer Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, 90 days or more delinquent and accruing | 0 | 0 |
Loans, Total past due loans accruing | 105 | 67 |
Loans, Non-accrual loans | 102 | 36 |
Loans, Total past due and non-accrual loans | 207 | 103 |
Loans, Total loans not past due | 18,996 | 19,792 |
Consumer Loan [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 82 | 65 |
Consumer Loan [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | $ 23 | $ 2 |
Loans and Allowance for Loan 35
Loans and Allowance for Loan Losses (Details 4) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Financing Receivable, Modifications [Line Items] | ||
Loans and Leases Receivable, Gross, Total | $ 435,684 | $ 425,816 |
Loans Receivables Non Classified [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and Leases Receivable, Gross, Total | 413,779 | 410,542 |
Loans Receivables Classified [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and Leases Receivable, Gross, Total | 21,905 | 15,274 |
Residential Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and Leases Receivable, Gross, Total | 130,753 | 131,930 |
Residential Real Estate [Member] | Loans Receivables Non Classified [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and Leases Receivable, Gross, Total | 129,286 | 130,575 |
Residential Real Estate [Member] | Loans Receivables Classified [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and Leases Receivable, Gross, Total | 1,467 | 1,355 |
Construction Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and Leases Receivable, Gross, Total | 18,381 | 15,043 |
Construction Loans [Member] | Loans Receivables Non Classified [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and Leases Receivable, Gross, Total | 17,638 | 14,429 |
Construction Loans [Member] | Loans Receivables Classified [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and Leases Receivable, Gross, Total | 743 | 614 |
Commercial Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and Leases Receivable, Gross, Total | 119,147 | 118,983 |
Commercial Real Estate [Member] | Loans Receivables Non Classified [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and Leases Receivable, Gross, Total | 109,454 | 111,016 |
Commercial Real Estate [Member] | Loans Receivables Classified [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and Leases Receivable, Gross, Total | 9,693 | 7,967 |
Commercial Loan [Member] | Loans Receivables Non Classified [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and Leases Receivable, Gross, Total | 58,875 | 58,862 |
Commercial Loan [Member] | Loans Receivables Classified [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and Leases Receivable, Gross, Total | 3,245 | 2,438 |
Municipal Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and Leases Receivable, Gross, Total | 7,263 | 7,635 |
Municipal Loans [Member] | Loans Receivables Non Classified [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and Leases Receivable, Gross, Total | 7,263 | 7,635 |
Municipal Loans [Member] | Loans Receivables Classified [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and Leases Receivable, Gross, Total | 0 | 0 |
Agriculture Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and Leases Receivable, Gross, Total | 78,817 | 71,030 |
Agriculture Loans [Member] | Loans Receivables Non Classified [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and Leases Receivable, Gross, Total | 72,179 | 68,186 |
Agriculture Loans [Member] | Loans Receivables Classified [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and Leases Receivable, Gross, Total | 6,638 | 2,844 |
Consumer Loan [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and Leases Receivable, Gross, Total | 19,203 | 19,895 |
Consumer Loan [Member] | Loans Receivables Non Classified [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and Leases Receivable, Gross, Total | 19,084 | 19,839 |
Consumer Loan [Member] | Loans Receivables Classified [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and Leases Receivable, Gross, Total | $ 119 | $ 56 |
Loans and Allowance for Loan 36
Loans and Allowance for Loan Losses (Details 5) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2016USD ($)Number | Dec. 31, 2015USD ($)Number | |
Financing Receivable, Modifications, Recorded Investment, Non Accrual Balance | $ 2,594 | $ 2,168 |
Troubled Debt Restructurings [Member] | ||
Troubled debt restructurings, Number of loans | Number | 14 | 14 |
Financing Receivable, Modifications, Recorded Investment, Non Accrual Balance | $ 594 | $ 655 |
Financing Receivable, Modifications, Recorded Investment, Accruing Balance | $ 4,491 | $ 4,669 |
Municipal Loans [Member] | Troubled Debt Restructurings [Member] | ||
Troubled debt restructurings, Number of loans | Number | 2 | 2 |
Financing Receivable, Modifications, Recorded Investment, Non Accrual Balance | $ 0 | $ 0 |
Financing Receivable, Modifications, Recorded Investment, Accruing Balance | 393 | 591 |
Commercial Loan [Member] | ||
Financing Receivable, Modifications, Recorded Investment, Non Accrual Balance | $ 96 | $ 583 |
Commercial Loan [Member] | Troubled Debt Restructurings [Member] | ||
Troubled debt restructurings, Number of loans | Number | 2 | 1 |
Financing Receivable, Modifications, Recorded Investment, Non Accrual Balance | $ 0 | $ 0 |
Financing Receivable, Modifications, Recorded Investment, Accruing Balance | $ 31 | $ 37 |
Construction Loans [Member] | Troubled Debt Restructurings [Member] | ||
Troubled debt restructurings, Number of loans | Number | 4 | 4 |
Financing Receivable, Modifications, Recorded Investment, Non Accrual Balance | $ 594 | $ 600 |
Financing Receivable, Modifications, Recorded Investment, Accruing Balance | $ 1,454 | $ 1,606 |
Agriculture loan [Member] | Troubled Debt Restructurings [Member] | ||
Troubled debt restructurings, Number of loans | Number | 1 | 2 |
Financing Receivable, Modifications, Recorded Investment, Non Accrual Balance | $ 0 | $ 0 |
Financing Receivable, Modifications, Recorded Investment, Accruing Balance | 45 | 50 |
Residential Real Estate [Member] | ||
Financing Receivable, Modifications, Recorded Investment, Non Accrual Balance | $ 916 | $ 749 |
Residential Real Estate [Member] | Troubled Debt Restructurings [Member] | ||
Troubled debt restructurings, Number of loans | Number | 2 | 2 |
Financing Receivable, Modifications, Recorded Investment, Non Accrual Balance | $ 0 | $ 55 |
Financing Receivable, Modifications, Recorded Investment, Accruing Balance | 190 | 3 |
Commercial Real Estate [Member] | ||
Financing Receivable, Modifications, Recorded Investment, Non Accrual Balance | $ 39 | $ 47 |
Commercial Real Estate [Member] | Troubled Debt Restructurings [Member] | ||
Troubled debt restructurings, Number of loans | Number | 3 | 3 |
Financing Receivable, Modifications, Recorded Investment, Non Accrual Balance | $ 0 | $ 0 |
Financing Receivable, Modifications, Recorded Investment, Accruing Balance | $ 2,378 | $ 2,382 |
Loans and Allowance for Loan 37
Loans and Allowance for Loan Losses (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | ||||||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | Mar. 31, 2016 | Dec. 31, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Loans and Leases Receivable, Impaired, Interest Lost on Nonaccrual Loans | $ 44,000 | $ 237,000 | ||||||
Impaired Financing Receivable, Recorded Investment, Total | $ 7,085,000 | 7,085,000 | $ 6,837,000 | |||||
Loans Receivable, Gross, Commercial, Agricultural | $ 44,000 | |||||||
Proceeds from Loan Originations | 2,400,000 | |||||||
Allowance for loan losses | 5,652,000 | $ 6,018,000 | 5,652,000 | 6,018,000 | $ 5,869,000 | 5,922,000 | 5,905,000 | $ 5,320,000 |
Commercial Portfolio Segment [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Loan Restructuring, Trial Modifications, Amount | 8,000 | 2,700,000 | ||||||
Residential Portfolio Segment [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Loan Restructuring, Trial Modifications, Amount | 188,000 | 56,000 | ||||||
Agriculture Portfolio Segment [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Loan Restructuring, Trial Modifications, Amount | 25,000 | |||||||
Commercial Real Estate [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Impaired Financing Receivable, Recorded Investment, Total | 2,417,000 | 2,417,000 | 2,429,000 | |||||
Allowance for loan losses | 1,776,000 | 1,539,000 | 1,776,000 | 1,539,000 | $ 1,831,000 | $ 1,740,000 | $ 1,600,000 | $ 1,832,000 |
Construction Loans [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Allowance for loan losses | 620,000,000 | $ 4,300,000 | 620,000,000 | $ 4,300,000 | ||||
Construction Loans [Member] | Trouble Debt Restructurings [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Loans and Leases Receivable, Impaired, Commitment to Lend | $ 84,000 | $ 84,000 |
Goodwill and Other Intangible38
Goodwill and Other Intangible Assets (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Finite-Lived Intangible Assets [Line Items] | ||
Intangible assets, Gross carrying amount | $ 7,997 | $ 7,739 |
Intangible assets, Accumulated amortization | (3,849) | (3,435) |
Intangible assets, Net carrying amount | 4,148 | 4,304 |
Core deposit intangible assets [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Intangible assets, Gross carrying amount | 2,067 | 2,067 |
Intangible assets, Accumulated amortization | (1,000) | (855) |
Intangible assets, Net carrying amount | 1,067 | 1,212 |
Lease intangible asset [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Intangible assets, Gross carrying amount | 350 | 350 |
Intangible assets, Accumulated amortization | (120) | (98) |
Intangible assets, Net carrying amount | 230 | 252 |
Mortgage servicing rights [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Intangible assets, Gross carrying amount | 5,580 | 5,322 |
Intangible assets, Accumulated amortization | (2,729) | (2,482) |
Intangible assets, Net carrying amount | $ 2,851 | $ 2,840 |
Goodwill and Other Intangible39
Goodwill and Other Intangible Assets (Details 1) $ in Thousands | Jun. 30, 2016USD ($) |
Finite-Lived Intangible Assets [Line Items] | |
Remainder of 2016 | $ 160 |
2,017 | 289 |
2,018 | 252 |
2,019 | 214 |
2,020 | 177 |
Thereafter | 205 |
Total | $ 1,297 |
Goodwill and Other Intangible40
Goodwill and Other Intangible Assets (Details 2) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
FHLMC [Member] | ||
Mortgage Loans on Real Estate [Line Items] | ||
Mortgage Loans on Real Estate, Face Amount of Mortgages | $ 467,663 | $ 444,714 |
FHLB [Member] | ||
Mortgage Loans on Real Estate [Line Items] | ||
Mortgage Loans on Real Estate, Face Amount of Mortgages | $ 12,685 | $ 14,039 |
Goodwill and Other Intangible41
Goodwill and Other Intangible Assets (Details 3) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Mortgage servicing rights: | ||||
Balance at beginning of period | $ 2,808 | $ 2,557 | $ 2,840 | $ 2,477 |
Additions | 291 | 408 | 512 | 710 |
Amortization | (248) | (236) | (501) | (458) |
Balance at end of period | $ 2,851 | $ 2,729 | $ 2,851 | $ 2,729 |
Goodwill and Other Intangible42
Goodwill and Other Intangible Assets (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | Dec. 31, 2015 | |
Weighted Average [Member] | |||||
Finite-Lived Intangible Assets [Line Items] | |||||
Assumption For Fair Value Of Interests Continued To Be Held By Transferor Servicing Assets Or Liabilities Weighted Average Default Rate | 2.16% | 2.25% | |||
Mortgage Loans Serviced [Member] | |||||
Finite-Lived Intangible Assets [Line Items] | |||||
Escrow Deposit | $ 4,500,000 | $ 4,500,000 | $ 3,500,000 | ||
Interest and Fee Income, Other Loans | 304,000 | $ 268,000 | 604,000 | $ 523,000 | |
Servicing Asset at Fair Value, Amount | 4,100,000 | $ 4,100,000 | $ 4,600,000 | ||
Mortgage Loans Serviced [Member] | Minimum [Member] | |||||
Finite-Lived Intangible Assets [Line Items] | |||||
Assumption for Fair Value of Assets or Liabilities that relate to Transferor's Continuing Involvement, Discount Rate | 9.50% | 9.50% | |||
Assumption for Fair Value of Assets or Liabilities that relate to Transferor's Continuing Involvement, Prepayment Speed | 6.14% | 5.15% | |||
Mortgage Loans Serviced [Member] | Maximum [Member] | |||||
Finite-Lived Intangible Assets [Line Items] | |||||
Assumption for Fair Value of Assets or Liabilities that relate to Transferor's Continuing Involvement, Discount Rate | 9.52% | 10.00% | |||
Assumption for Fair Value of Assets or Liabilities that relate to Transferor's Continuing Involvement, Prepayment Speed | 14.98% | 33.78% | |||
Mortgage Repurchase Reserve [Member] | |||||
Finite-Lived Intangible Assets [Line Items] | |||||
Mortgage Loans on Real Estate, Write-down or Reserve, Amount | 361,000 | $ 361,000 | $ 351,000 | ||
Financing Receivable, Allowance for Credit Losses, Recovery | $ 3,000 | $ 10,000 |
Earnings per Share (Details)
Earnings per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | ||
Net earnings | $ 2,245 | $ 2,616 | $ 4,522 | $ 5,393 | |
Weighted average common shares outstanding - basic | [1] | 3,613,671 | 3,504,295 | 3,585,235 | 3,503,495 |
Assumed exercise of stock options | [1] | 76,324 | 109,128 | 75,064 | 103,749 |
Weighted average common shares outstanding - diluted | [1] | 3,689,995 | 3,613,423 | 3,660,299 | 3,607,244 |
Net earnings per share : | |||||
Basic | [1],[2] | $ 0.62 | $ 0.75 | $ 1.26 | $ 1.54 |
Diluted | [1],[2] | $ 0.61 | $ 0.72 | $ 1.24 | $ 1.5 |
[1] | Share and per share values for the periods ended June 30, 2015 have been adjusted to give effect to the 5% stock dividend paid during December 2015. | ||||
[2] | Per share amounts for the periods ended June 30, 2015 have been adjusted to give effect to the 5% stock dividend paid during December 2015. |
Earnings per Share (Details Tex
Earnings per Share (Details Textual) | 12 Months Ended |
Dec. 31, 2015 | |
Percentage Of Stocks Dividend | 5.00% |
Repurchase Agreements (Details)
Repurchase Agreements (Details) - USD ($) | Jun. 30, 2016 | Dec. 31, 2015 |
Assets Sold under Agreements to Repurchase [Line Items] | ||
Assets Sold under Agreements to Repurchase, Carrying Amount | $ 11,527 | $ 11,974 |
U. S. federal agency obligations [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Assets Sold under Agreements to Repurchase, Carrying Amount | 5,063 | 5,810 |
Agency mortgage-backed securities [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Assets Sold under Agreements to Repurchase, Carrying Amount | 6,464 | 6,164 |
Overnight and Continuous [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Assets Sold under Agreements to Repurchase, Carrying Amount | 11,527 | 11,974 |
Overnight and Continuous [Member] | U. S. federal agency obligations [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Assets Sold under Agreements to Repurchase, Carrying Amount | 5,063 | 5,810 |
Overnight and Continuous [Member] | Agency mortgage-backed securities [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Assets Sold under Agreements to Repurchase, Carrying Amount | 6,464 | 6,164 |
Maturity Up to 30 Days [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Assets Sold under Agreements to Repurchase, Carrying Amount | 0 | 0 |
Maturity Up to 30 Days [Member] | U. S. federal agency obligations [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Assets Sold under Agreements to Repurchase, Carrying Amount | 0 | 0 |
Maturity Up to 30 Days [Member] | Agency mortgage-backed securities [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Assets Sold under Agreements to Repurchase, Carrying Amount | 0 | 0 |
Maturity 30 to 90 Days [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Assets Sold under Agreements to Repurchase, Carrying Amount | 0 | 0 |
Maturity 30 to 90 Days [Member] | U. S. federal agency obligations [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Assets Sold under Agreements to Repurchase, Carrying Amount | 0 | 0 |
Maturity 30 to 90 Days [Member] | Agency mortgage-backed securities [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Assets Sold under Agreements to Repurchase, Carrying Amount | 0 | 0 |
Maturity Greater than 90 Days [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Assets Sold under Agreements to Repurchase, Carrying Amount | 0 | 0 |
Maturity Greater than 90 Days [Member] | U. S. federal agency obligations [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Assets Sold under Agreements to Repurchase, Carrying Amount | 0 | 0 |
Maturity Greater than 90 Days [Member] | Agency mortgage-backed securities [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Assets Sold under Agreements to Repurchase, Carrying Amount | $ 0 | $ 0 |
Repurchase Agreements (Details
Repurchase Agreements (Details Textual) - USD ($) $ in Millions | Jun. 30, 2016 | Dec. 31, 2015 |
Assets Sold under Agreements to Repurchase [Line Items] | ||
Customer Funds | $ 11.5 | $ 12 |
Repurchase Agreements [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Debt Instrument, Collateral Amount | $ 17.3 | $ 15.7 |
Fair Value of Financial Instr47
Fair Value of Financial Instruments and Fair Value Measurements (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 | Jun. 30, 2015 | Dec. 31, 2014 |
Financial assets: | ||||
Cash and cash equivalents, carrying amount | $ 14,317 | $ 13,569 | $ 15,135 | $ 12,760 |
Cash and cash equivalents | 14,317 | 13,569 | ||
Investment securities available-for-sale | 366,550 | 353,438 | ||
Bank stocks, at cost, carrying amount | 4,622 | 4,497 | ||
Loans, net | 431,483 | 420,061 | ||
Loans held for sale, net | 10,062 | |||
Loans, net, carrying amount | 430,064 | 419,923 | ||
Loans held for sale, net, carrying amount | 10,057 | 14,465 | ||
Derivative financial instruments | 615 | 797 | ||
Accrued interest receivable | 3,927 | 4,002 | ||
Financial liabilities: | ||||
Non-maturity deposits | (566,971) | (570,784) | ||
Time deposits, carrying amount | (148,650) | (143,943) | ||
FHLB borrowings, carrying amount | (48,000) | (37,600) | ||
Subordinated debentures, carrying amount | (21,184) | (21,084) | ||
Other borrowings, carrying amount | (11,527) | (11,974) | ||
Time deposits | (148,116) | (142,924) | ||
FHLB borrowings | (49,247) | (38,215) | ||
Subordinated debentures | (18,812) | (19,051) | ||
Other borrowings | (11,527) | (11,974) | ||
Accrued interest payable | (271) | (287) | ||
Fair Value, Inputs, Level 1 [Member] | ||||
Financial assets: | ||||
Cash and cash equivalents | 14,317 | 13,569 | ||
Investment securities available-for-sale | 7,363 | 8,003 | ||
Loans, net | 0 | 0 | ||
Loans held for sale, net | 0 | |||
Derivative financial instruments | 0 | 0 | ||
Accrued interest receivable | 22 | 22 | ||
Financial liabilities: | ||||
Non-maturity deposits | (566,971) | (570,784) | ||
Time deposits | 0 | 0 | ||
FHLB borrowings | 0 | 0 | ||
Subordinated debentures | 0 | 0 | ||
Other borrowings | 0 | 0 | ||
Accrued interest payable | 0 | 0 | ||
Fair Value, Inputs, Level 2 [Member] | ||||
Financial assets: | ||||
Cash and cash equivalents | 0 | 0 | ||
Investment securities available-for-sale | 359,187 | 345,435 | ||
Loans, net | 0 | 0 | ||
Loans held for sale, net | 10,062 | |||
Derivative financial instruments | 615 | 797 | ||
Accrued interest receivable | 1,979 | 2,117 | ||
Financial liabilities: | ||||
Non-maturity deposits | 0 | 0 | ||
Time deposits | (148,116) | (142,924) | ||
FHLB borrowings | (49,247) | (38,215) | ||
Subordinated debentures | (18,812) | (19,051) | ||
Other borrowings | (11,527) | (11,974) | ||
Accrued interest payable | (271) | (287) | ||
Fair Value, Inputs, Level 3 [Member] | ||||
Financial assets: | ||||
Cash and cash equivalents | 0 | 0 | ||
Investment securities available-for-sale | 0 | 0 | ||
Loans, net | 431,483 | 420,061 | ||
Loans held for sale, net | 0 | |||
Derivative financial instruments | 0 | 0 | ||
Accrued interest receivable | 1,926 | 1,863 | ||
Financial liabilities: | ||||
Non-maturity deposits | 0 | 0 | ||
Time deposits | 0 | 0 | ||
FHLB borrowings | 0 | 0 | ||
Subordinated debentures | 0 | 0 | ||
Other borrowings | 0 | 0 | ||
Accrued interest payable | 0 | 0 | ||
Carrying Amount, Fair Value Disclosure [Member] | ||||
Financial assets: | ||||
Cash and cash equivalents, carrying amount | 14,317 | 13,569 | ||
Investment securities available-for-sale | 366,550 | 353,438 | ||
Bank stocks, at cost, carrying amount | 4,622 | 4,497 | ||
Loans, net, carrying amount | 430,064 | 419,923 | ||
Loans held for sale, net, carrying amount | 10,057 | |||
Derivative financial instruments | 615 | 797 | ||
Accrued interest receivable, carrying amount | 3,927 | 4,002 | ||
Financial liabilities: | ||||
Non-maturity deposits, carrying amount | (566,971) | (570,784) | ||
Time deposits, carrying amount | (148,650) | (143,943) | ||
FHLB borrowings, carrying amount | (48,000) | (37,600) | ||
Subordinated debentures, carrying amount | (21,184) | (2,184) | ||
Other borrowings, carrying amount | (11,527) | (11,974) | ||
Accrued interest payable, carrying amount | $ (271) | $ (287) |
Fair Value of Financial Instr48
Fair Value of Financial Instruments and Fair Value Measurements (Details 1) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Assets: | ||
Estimated fair value | $ 366,550 | $ 353,438 |
Derivative financial instruments | 615 | 797 |
Common stocks [Member] | ||
Assets: | ||
Estimated fair value | 1,314 | 1,486 |
Fair Value, Measurements, Recurring [Member] | ||
Assets: | ||
Derivative financial instruments | 615 | 797 |
Fair Value, Measurements, Recurring [Member] | Common stocks [Member] | ||
Assets: | ||
Estimated fair value | 1,314 | 1,486 |
Fair Value, Measurements, Recurring [Member] | Mortgage-backed securities [Member] | ||
Assets: | ||
Estimated fair value | 91,501 | 85,985 |
U. S. federal agency obligations [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets: | ||
Estimated fair value | 27,985 | 29,920 |
Municipal obligations, tax exempt [Member] | ||
Assets: | ||
Estimated fair value | 155,735 | 137,941 |
Municipal obligations, tax exempt [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets: | ||
Estimated fair value | 155,735 | 137,941 |
Municipal obligations, taxable [Member] | ||
Assets: | ||
Estimated fair value | 74,266 | 81,890 |
Municipal obligations, taxable [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets: | ||
Estimated fair value | 74,266 | 81,890 |
U. S. treasury securities [Member] | ||
Assets: | ||
Estimated fair value | 6,049 | 6,517 |
U. S. treasury securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets: | ||
Estimated fair value | 6,049 | 6,517 |
Certificates of deposit [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets: | ||
Estimated fair value | 9,700 | 9,699 |
Fair Value, Inputs, Level 1 [Member] | ||
Assets: | ||
Estimated fair value | 7,363 | 8,003 |
Derivative financial instruments | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets: | ||
Derivative financial instruments | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Common stocks [Member] | ||
Assets: | ||
Estimated fair value | 1,314 | 1,486 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Mortgage-backed securities [Member] | ||
Assets: | ||
Estimated fair value | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | U. S. federal agency obligations [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets: | ||
Estimated fair value | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Municipal obligations, tax exempt [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets: | ||
Estimated fair value | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Municipal obligations, taxable [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets: | ||
Estimated fair value | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | U. S. treasury securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets: | ||
Estimated fair value | 6,049 | 6,517 |
Fair Value, Inputs, Level 1 [Member] | Certificates of deposit [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets: | ||
Estimated fair value | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Assets: | ||
Estimated fair value | 359,187 | 345,435 |
Derivative financial instruments | 615 | 797 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets: | ||
Derivative financial instruments | 615 | 797 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Common stocks [Member] | ||
Assets: | ||
Estimated fair value | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Mortgage-backed securities [Member] | ||
Assets: | ||
Estimated fair value | 91,501 | 85,985 |
Fair Value, Inputs, Level 2 [Member] | U. S. federal agency obligations [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets: | ||
Estimated fair value | 27,985 | 29,920 |
Fair Value, Inputs, Level 2 [Member] | Municipal obligations, tax exempt [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets: | ||
Estimated fair value | 155,735 | 137,941 |
Fair Value, Inputs, Level 2 [Member] | Municipal obligations, taxable [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets: | ||
Estimated fair value | 74,266 | 81,890 |
Fair Value, Inputs, Level 2 [Member] | U. S. treasury securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets: | ||
Estimated fair value | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Certificates of deposit [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets: | ||
Estimated fair value | 9,700 | 9,699 |
Fair Value, Inputs, Level 3 [Member] | ||
Assets: | ||
Estimated fair value | 0 | 0 |
Derivative financial instruments | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets: | ||
Derivative financial instruments | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Common stocks [Member] | ||
Assets: | ||
Estimated fair value | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Mortgage-backed securities [Member] | ||
Assets: | ||
Estimated fair value | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | U. S. federal agency obligations [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets: | ||
Estimated fair value | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Municipal obligations, tax exempt [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets: | ||
Estimated fair value | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Municipal obligations, taxable [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets: | ||
Estimated fair value | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | U. S. treasury securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets: | ||
Estimated fair value | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Certificates of deposit [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets: | ||
Estimated fair value | $ 0 | $ 0 |
Fair Value of Financial Instr49
Fair Value of Financial Instruments and Fair Value Measurements (Details 2) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | Dec. 31, 2015 | |
Assets: | |||||
Loans held for sale | $ 10,062 | $ 10,062 | |||
Gain (Loss) on loans held for sale, net | 1,405 | $ 2,251 | 3,199 | $ 4,194 | |
Fair Value, Measurements, Nonrecurring [Member] | |||||
Assets: | |||||
Loans held for sale | $ 14,465 | ||||
Gain (Loss) on loans held for sale, net | (10) | ||||
Fair Value, Measurements, Nonrecurring [Member] | Commercial loans [Member] | |||||
Assets: | |||||
Impaired loans | 39 | 39 | |||
Total (losses)/gains On Impaired Loans Fair Value Disclosure | (13) | ||||
Fair Value, Measurements, Nonrecurring [Member] | Agriculture loans [Member] | |||||
Assets: | |||||
Impaired loans | 448 | 448 | |||
Total (losses)/gains On Impaired Loans Fair Value Disclosure | (206) | ||||
Fair Value, Measurements, Nonrecurring [Member] | Consumer loans [Member] | |||||
Assets: | |||||
Impaired loans | 9 | 9 | 16 | ||
Total (losses)/gains On Impaired Loans Fair Value Disclosure | 2 | 6 | |||
Fair Value, Measurements, Nonrecurring [Member] | One-to-four family residential real estate [Member] | |||||
Assets: | |||||
Impaired loans | 585 | 585 | 266 | ||
Total (losses)/gains On Impaired Loans Fair Value Disclosure | 3 | (137) | |||
Fair Value, Inputs, Level 1 [Member] | |||||
Assets: | |||||
Loans held for sale | 0 | 0 | |||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member] | |||||
Assets: | |||||
Loans held for sale | 0 | ||||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Commercial loans [Member] | |||||
Assets: | |||||
Impaired loans | 0 | 0 | |||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Agriculture loans [Member] | |||||
Assets: | |||||
Impaired loans | 0 | 0 | |||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Consumer loans [Member] | |||||
Assets: | |||||
Impaired loans | 0 | 0 | 0 | ||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member] | One-to-four family residential real estate [Member] | |||||
Assets: | |||||
Impaired loans | 0 | 0 | 0 | ||
Fair Value, Inputs, Level 2 [Member] | |||||
Assets: | |||||
Loans held for sale | 10,062 | 10,062 | |||
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member] | |||||
Assets: | |||||
Loans held for sale | 14,465 | ||||
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Commercial loans [Member] | |||||
Assets: | |||||
Impaired loans | 0 | 0 | |||
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Agriculture loans [Member] | |||||
Assets: | |||||
Impaired loans | 0 | 0 | |||
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Consumer loans [Member] | |||||
Assets: | |||||
Impaired loans | 0 | 0 | 0 | ||
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member] | One-to-four family residential real estate [Member] | |||||
Assets: | |||||
Impaired loans | 0 | 0 | 0 | ||
Fair Value, Inputs, Level 3 [Member] | |||||
Assets: | |||||
Loans held for sale | 0 | 0 | |||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | |||||
Assets: | |||||
Loans held for sale | 0 | ||||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Commercial loans [Member] | |||||
Assets: | |||||
Impaired loans | 39 | 39 | |||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Agriculture loans [Member] | |||||
Assets: | |||||
Impaired loans | 448 | 448 | |||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Consumer loans [Member] | |||||
Assets: | |||||
Impaired loans | 9 | 9 | 16 | ||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | One-to-four family residential real estate [Member] | |||||
Assets: | |||||
Impaired loans | $ 585 | $ 585 | $ 266 |
Fair Value of Financial Instr50
Fair Value of Financial Instruments and Fair Value Measurements (Details 3) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2016 | Dec. 31, 2015 | |
One-to-four family residential real estate [Member] | Minimum [Member] | ||
Fair Value Measurements Sales Comparison Range | 6.00% | 0.00% |
One-to-four family residential real estate [Member] | Maximum [Member] | ||
Fair Value Measurements Sales Comparison Range | 40.00% | 40.00% |
Commercial loans [Member] | Minimum [Member] | ||
Fair Value Measurements Sales Comparison Range | 15.00% | |
Agriculture loans [Member] | Minimum [Member] | ||
Fair Value Measurements Sales Comparison Range | 20.00% | |
Agriculture loans [Member] | Maximum [Member] | ||
Fair Value Measurements Sales Comparison Range | 50.00% | |
Fair Value, Measurements, Nonrecurring [Member] | One-to-four family residential real estate [Member] | ||
Impaired Loans Fair Value Disclosure | $ 585 | $ 266 |
Fair Value Measurements, Valuation Techniques | Sales comparison | Sales comparison |
Fair Value Measurements, Changes in Valuation Techniques | Adjustment to appraised value | Adjustment to appraised value |
Fair Value, Measurements, Nonrecurring [Member] | Commercial loans [Member] | ||
Impaired Loans Fair Value Disclosure | $ 39 | |
Fair Value Measurements, Valuation Techniques | Sales comparison | |
Fair Value Measurements, Changes in Valuation Techniques | Adjustment to appraised value | |
Fair Value, Measurements, Nonrecurring [Member] | Agriculture loans [Member] | ||
Impaired Loans Fair Value Disclosure | $ 448 | |
Fair Value Measurements, Valuation Techniques | Sales comparison | |
Fair Value Measurements, Changes in Valuation Techniques | Adjustment to appraised value | |
Fair Value, Measurements, Nonrecurring [Member] | Consumer loans [Member] | ||
Impaired Loans Fair Value Disclosure | $ 9 | $ 16 |
Fair Value Measurements, Valuation Techniques | Sales comparison | Sales comparison |
Fair Value Measurements, Changes in Valuation Techniques | Adjustment to appraised value | Adjustment to comparable sales |
Fair Value Measurements Sales Comparison Range | 0.00% | 0.00% |
Fair Value of Financial Instr51
Fair Value of Financial Instruments and Fair Value Measurements (Details Textual) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Fair Value of Financial Instruments And Fair Value Measurements [Line Items] | ||
Impaired Financing Receivable, Related Allowance | $ 245 | $ 88 |
Impaired Financing Receivable, Recorded Investment, Total | $ 7,085 | $ 6,837 |
Regulatory Capital Requiremen52
Regulatory Capital Requirements (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 | |
Regulatory Capital Requirements [Line Items] | |||
Leverage - For capital adequacy purposes Ratio | 4.00% | ||
Common Equity Tier 1 Capital - For capital adequacy purposes Ratio | 4.50% | ||
Total Risk Based Capital - For capital adequacy purposes Ratio | 8.00% | ||
Companys Regulatory Capital Requirements [Member] | |||
Regulatory Capital Requirements [Line Items] | |||
Leverage - Actual Amount | $ 85,237 | $ 80,401 | |
Common Equity Tier 1 Capital - Actual Amount | 64,736 | 60,375 | |
Tier 1 Capital - Actual Amount | 85,237 | 80,401 | |
Total Risk Based Capital - Actual Amount | $ 91,378 | $ 87,214 | |
Leverage - Actual Ratio | 9.66% | 9.43% | |
Common Equity Tier 1 Capital - Actual Ratio | 11.93% | 11.05% | |
Tier 1 Capital - Actual Ratio | 15.71% | 14.72% | |
Total Risk Based Capital - Actual Ratio | 16.84% | 15.96% | |
Leverage - For capital adequacy purposes Amount | [1] | $ 35,286 | $ 34,092 |
Common Equity Tier 1 Capital - For capital adequacy purposes Amount | [1] | 27,811 | 24,584 |
Tier 1 Capital - For capital adequacy purposes Amount | [1] | 35,950 | 32,779 |
Total Risk Based Capital - For capital adequacy purposes Amount | [1] | $ 46,803 | $ 43,706 |
Leverage - For capital adequacy purposes Ratio | [1] | 4.00% | 4.00% |
Common Equity Tier 1 Capital - For capital adequacy purposes Ratio | [1] | 5.10% | 4.50% |
Tier 1 Capital - For capital adequacy purposes Ratio | [1] | 6.60% | 6.00% |
Total Risk Based Capital - For capital adequacy purposes Ratio | [1] | 8.60% | 8.00% |
[1] | The ratios for June 30, 2016 include a capital conservation buffer of 0.625%. |
Regulatory Capital Requiremen53
Regulatory Capital Requirements (Details 1) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 | |
Regulatory Capital Requirements [Line Items] | |||
Leverage - For capital adequacy purposes Ratio | 4.00% | ||
Common Equity Tier 1 Capital - For capital adequacy purposes Ratio | 4.50% | ||
Total Risk Based Capital - For capital adequacy purposes Ratio | 8.00% | ||
Banks Regulatory Capital Requirements [Member] | |||
Regulatory Capital Requirements [Line Items] | |||
Leverage - Actual Amount | $ 83,830 | $ 79,857 | |
Common Equity Tier 1 Capital - Actual Amount | 83,830 | 79,857 | |
Tier 1 Capital - Actual Amount | 83,830 | 79,857 | |
Total Risk Based Capital - Actual Amount | $ 89,632 | $ 85,929 | |
Leverage - Actual Ratio | 9.53% | 9.40% | |
Common Equity Tier 1 Capital - Actual Ratio | 15.50% | 14.66% | |
Tier 1 Capital - Actual Ratio | 15.50% | 14.66% | |
Total Risk Based Capital - Actual Ratio | 16.57% | 15.77% | |
Leverage - For capital adequacy purposes Amount | [1] | $ 35,198 | $ 33,993 |
Common Equity Tier 1 Capital - For capital adequacy purposes Amount | [1] | 27,716 | 24,519 |
Tier 1 Capital - For capital adequacy purposes Amount | [1] | 35,829 | 32,692 |
Total Risk Based Capital - For capital adequacy purposes Amount | [1] | $ 46,645 | $ 43,589 |
Leverage - For capital adequacy purposes Ratio | [1] | 4.00% | 4.00% |
Common Equity Tier 1 Capital - For capital adequacy purposes Ratio | [1] | 5.10% | 4.50% |
Tier 1 Capital - For capital adequacy purposes Ratio | [1] | 6.60% | 6.00% |
Total Risk Based Capital - For capital adequacy purposes Ratio | [1] | 8.60% | 8.00% |
Leverage - To be well-capitalized under prompt corrective action provisions Amount | $ 43,998 | $ 42,491 | |
Common Equity Tier 1 Capital - To be well-capitalized under prompt corrective action provisions Amount | 35,153 | 35,416 | |
Tier 1 Capital - To be well-capitalized under prompt corrective action provisions Amount | 43,265 | 43,589 | |
Total Risk Based Capital - To be well-capitalized under prompt corrective action provisions Amount | $ 54,081 | $ 54,486 | |
Leverage - To be well-capitalized under prompt corrective action provisions Ratio | 5.00% | 5.00% | |
Common Equity Tier 1 Capital - To be well-capitalized under prompt corrective action provisions Ratio | 6.50% | 6.50% | |
Tier 1 Capital - To be well-capitalized under prompt corrective action provisions Ratio | 8.00% | 8.00% | |
Total Risk Based Capital - To be well-capitalized under prompt corrective action provisions Ratio | 10.00% | 10.00% | |
[1] | The ratios for June 30, 2016 include a capital conservation buffer of 0.625%. |
Regulatory Capital Requiremen54
Regulatory Capital Requirements (Details Textual) - USD ($) $ in Thousands | 6 Months Ended | 37 Months Ended | |
Jun. 30, 2016 | Jan. 31, 2019 | Dec. 31, 2015 | |
Regulatory Capital Requirements [Line Items] | |||
Tier One Leverage Capital Required for Capital Adequacy to Average Assets | 4.00% | ||
Capital Required for Capital Adequacy to Risk Weighted Assets | 8.00% | ||
Assets, Total | $ 896,322 | $ 878,376 | |
Common Equity Tier One Risk Based Capital Required For Capital Adequacy To Risk Weighted Assets | 4.50% | ||
Scenario, Forecast [Member] | |||
Regulatory Capital Requirements [Line Items] | |||
Tier One Capital Conversation Buffer | 2.50% | ||
Maximum [Member] | |||
Regulatory Capital Requirements [Line Items] | |||
Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets | 6.00% | ||
Small Bank Holding Companies [Member] | |||
Regulatory Capital Requirements [Line Items] | |||
Assets, Total | $ 1,000,000 | ||
Opt Out Election Description | The Bank made the one-time accumulated other comprehensive income (“AOCI”) opt-out election on its first Call Report filed after January 1, 2015, which allowed banks under $250 billion a one-time opt-out election to remove the impact of certain unrealized capital gains and losses from the calculation of capital. | ||
Capital Conservation Buffer [Member] | |||
Regulatory Capital Requirements [Line Items] | |||
Tier One Capital Conversation Buffer | 0.625% | ||
Tier One Capital Conversation Buffer, Increase | 0.625% |