Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2017 | May 04, 2017 | |
Document Information [Line Items] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Mar. 31, 2017 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q1 | |
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 | 3,869,922 |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Assets | ||
Cash and cash equivalents | $ 20,062 | $ 19,996 |
Investment securities available-for-sale, at fair value | 396,920 | 385,563 |
Bank stocks, at cost | 5,323 | 5,299 |
Loans, net of allowance for loans losses of $5,327 at March 31, 2017 and $5,344 at December 31, 2016 | 417,955 | 420,461 |
Loans held for sale, at fair value | 8,588 | 5,517 |
Premises and equipment, net | 20,156 | 20,407 |
Bank owned life insurance | 18,431 | 18,314 |
Goodwill | 17,532 | 17,532 |
Other intangible assets, net | 3,849 | 3,986 |
Real estate owned, net | 1,003 | 1,279 |
Accrued interest and other assets | 13,198 | 13,028 |
Total assets | 923,017 | 911,382 |
Deposits: | ||
Non-interest-bearing demand | 167,590 | 152,012 |
Money market and checking | 352,608 | 361,398 |
Savings | 93,291 | 88,273 |
Time | 139,197 | 139,838 |
Total deposits | 752,686 | 741,521 |
Federal Home Loan Bank borrowings | 33,450 | 39,100 |
Subordinated debentures | 21,334 | 21,284 |
Other borrowings | 13,491 | 12,483 |
Accrued interest, taxes, and other liabilities | 15,387 | 12,043 |
Total liabilities | 836,348 | 826,431 |
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; 3,869,922 and 3,868,077 shares issued at March 31, 2017 and December 31, 2016, respectively | 39 | 38 |
Additional paid-in capital | 52,025 | 51,968 |
Retained earnings | 35,724 | 34,293 |
Accumulated other comprehensive loss | (1,119) | (1,348) |
Total stockholders’ equity | 86,669 | 84,951 |
Total liabilities and stockholders’ equity | $ 923,017 | $ 911,382 |
CONSOLIDATED BALANCE SHEETS _Pa
CONSOLIDATED BALANCE SHEETS [Parenthetical] - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Net of allowance for loans losses (in dollars) | $ 5,327 | $ 5,344 |
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 | 3,869,922 | 3,868,077 |
Common stock, shares, outstanding | 3,869,922 | 3,868,077 |
CONSOLIDATED STATEMENTS OF EARN
CONSOLIDATED STATEMENTS OF EARNINGS - USD ($) $ in Thousands | 3 Months Ended | |||
Mar. 31, 2017 | Mar. 31, 2016 | |||
Loans: | ||||
Taxable | $ 5,019 | $ 5,136 | ||
Tax-exempt | 35 | 66 | ||
Investment securities: | ||||
Taxable | 1,192 | 1,163 | ||
Tax-exempt | 942 | 809 | ||
Total interest income | 7,188 | 7,174 | ||
Interest expense: | ||||
Deposits | 338 | 277 | ||
Borrowings | 482 | 493 | ||
Total interest expense | 820 | 770 | ||
Net interest income | 6,368 | 6,404 | ||
Provision for loan losses | 50 | 50 | ||
Net interest income after provision for loan losses | 6,318 | 6,354 | ||
Non-interest income: | ||||
Fees and service charges | 1,715 | 1,729 | ||
Gains on sales of loans, net | 1,389 | 1,794 | ||
Bank owned life insurance | 117 | 120 | ||
Gains on sales of investment securities, net | 147 | 12 | ||
Other | 273 | 239 | ||
Total non-interest income | 3,641 | 3,894 | ||
Non-interest expense: | ||||
Compensation and benefits | 3,757 | 3,801 | ||
Occupancy and equipment | 1,024 | 1,056 | ||
Data processing | 330 | 311 | ||
Amortization of intangibles | 298 | 337 | ||
Professional fees | 290 | 219 | ||
Advertising | 166 | 166 | ||
Federal deposit insurance premiums | 72 | 110 | ||
Foreclosure and real estate owned expense | 52 | 65 | ||
Other | 1,072 | 1,097 | ||
Total non-interest expense | 7,061 | 7,162 | ||
Earnings before income taxes | 2,898 | 3,086 | ||
Income tax expense | [1] | 693 | 693 | |
Net earnings | [1],[2],[3],[4] | $ 2,205 | $ 2,393 | [5] |
Earnings per share: | ||||
Basic (in dollars per share) | [4],[6],[7] | $ 0.57 | $ 0.64 | |
Diluted (in dollars per share) | [1],[4],[6],[7] | 0.56 | 0.63 | |
Dividends per share (in dollars per share) | [6] | $ 0.20 | $ 0.19 | |
[1] | Income tax expense, net earnings and diluted earnings per share for the period ended March 31, 2016 have been recast to reflect the early adoption of Accounting Standards Update ("ASU") 2016-09. | |||
[2] | Net earnings and proceeds from the exercise of stock options for the period ended March 31, 2016 have been recast to reflect the early adoption of ASU 2016-09. | |||
[3] | Net earnings for the period ended March 31, 2016 have been recast to reflect the early adoption of ASU 2016-09. | |||
[4] | Net earnings, earnings per share and assumed exercise of stock options for the period ended March 31, 2016 have been recast to relect the early adoption of ASU 2016-09. | |||
[5] | Net earnings and exercise of stock options for the period ended March 31, 2016 have been recast to reflect the early adoption of ASU 2016-09. | |||
[6] | Per share amounts for the period ended March 31, 2016 have been adjusted to give effect to the 5% stock dividend paid during December 2016. | |||
[7] | Share and per share values for the period ended March 31, 2016 have been adjusted to give effect to the 5% stock dividend paid during December 2016. |
CONSOLIDATED STATEMENTS OF EAR5
CONSOLIDATED STATEMENTS OF EARNINGS [Parenthetical] | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2016 | Dec. 31, 2016 | ||
Percentage Of Stocks Dividend | 5.00% | [1] | 5.00% |
[1] | Share and per share values for the period ended March 31, 2016 have been adjusted to give effect to the 5% stock dividend paid during December 2016. |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands | 3 Months Ended | |||
Mar. 31, 2017 | Mar. 31, 2016 | |||
Net earnings | [1],[2],[3],[4] | $ 2,205 | $ 2,393 | [5] |
Net unrealized holding gains on available-for-sale securities | 522 | 3,390 | ||
Less reclassification adjustment for net gains included in earnings | (147) | (12) | ||
Net unrealized gains | 375 | 3,378 | ||
Income tax effect on net gains included in earnings | 54 | 4 | ||
Income tax effect on net unrealized holding gains | (200) | (1,257) | ||
Other comprehensive income | 229 | 2,125 | ||
Total comprehensive income | $ 2,434 | $ 4,518 | ||
[1] | Income tax expense, net earnings and diluted earnings per share for the period ended March 31, 2016 have been recast to reflect the early adoption of Accounting Standards Update ("ASU") 2016-09. | |||
[2] | Net earnings and proceeds from the exercise of stock options for the period ended March 31, 2016 have been recast to reflect the early adoption of ASU 2016-09. | |||
[3] | Net earnings for the period ended March 31, 2016 have been recast to reflect the early adoption of ASU 2016-09. | |||
[4] | Net earnings, earnings per share and assumed exercise of stock options for the period ended March 31, 2016 have been recast to relect the early adoption of ASU 2016-09. | |||
[5] | Net earnings and exercise of stock options for the period ended March 31, 2016 have been recast to reflect the early adoption of ASU 2016-09. |
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, 2015 | $ 80,570 | $ 35 | $ 45,372 | $ 32,988 | $ 2,175 | ||
Net earnings | [2] | 2,393 | [1],[3],[4],[5] | 0 | 0 | 2,393 | 0 |
Other comprehensive income | 2,125 | 0 | 0 | 0 | 2,125 | ||
Dividends paid | (713) | 0 | 0 | (713) | 0 | ||
Exercise of stock options | [2] | 825 | 1 | 824 | 0 | 0 | |
Balance at Mar. 31, 2016 | 85,200 | 36 | 46,196 | 34,668 | 4,300 | ||
Balance at Dec. 31, 2016 | 84,951 | 38 | 51,968 | 34,293 | (1,348) | ||
Net earnings | 2,205 | [1],[3],[4],[5] | 0 | 0 | 2,205 | 0 | |
Other comprehensive income | 229 | 0 | 0 | 0 | 229 | ||
Dividends paid | (774) | 0 | 0 | (774) | 0 | ||
Stock-based compensation | 35 | 0 | 35 | 0 | 0 | ||
Exercise of stock options | 23 | 1 | 22 | 0 | 0 | ||
Balance at Mar. 31, 2017 | $ 86,669 | $ 39 | $ 52,025 | $ 35,724 | $ (1,119) | ||
[1] | Income tax expense, net earnings and diluted earnings per share for the period ended March 31, 2016 have been recast to reflect the early adoption of Accounting Standards Update ("ASU") 2016-09. | ||||||
[2] | Net earnings and exercise of stock options for the period ended March 31, 2016 have been recast to reflect the early adoption of ASU 2016-09. | ||||||
[3] | Net earnings and proceeds from the exercise of stock options for the period ended March 31, 2016 have been recast to reflect the early adoption of ASU 2016-09. | ||||||
[4] | Net earnings for the period ended March 31, 2016 have been recast to reflect the early adoption of ASU 2016-09. | ||||||
[5] | Net earnings, earnings per share and assumed exercise of stock options for the period ended March 31, 2016 have been recast to relect the early adoption of ASU 2016-09. |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 3 Months Ended | |||
Mar. 31, 2017 | Mar. 31, 2016 | |||
Cash flows from operating activities: | ||||
Net earnings | [1],[2],[3],[4] | $ 2,205 | $ 2,393 | [5] |
Adjustments to reconcile net earnings to net cash provided by operating activities: | ||||
Provision for loan losses | 50 | 50 | ||
Valuation allowance on real estate owned | 33 | 0 | ||
Amortization of investment security premiums, net | 468 | 382 | ||
Amortization of purchase accounting adjustment on loans | (19) | (2) | ||
Amortization of purchase accounting adjustment on subordinated debentures | 50 | 50 | ||
Amortization of intangibles | 298 | 337 | ||
Depreciation | 263 | 292 | ||
Increase in cash surrender value of bank owned life insurance | (117) | (120) | ||
Stock-based compensation | 35 | 0 | ||
Deferred income taxes | 60 | 91 | ||
Net gains on sales of investment securities | (147) | (12) | ||
Net losses on sales of foreclosed assets | 15 | 60 | ||
Net gains on sales of loans | (1,389) | (1,794) | ||
Proceeds from sales of loans | 31,153 | 56,631 | ||
Origination of loans held for sale | (32,835) | (53,795) | ||
Changes in assets and liabilities: | ||||
Accrued interest and other assets | (520) | (1,423) | ||
Accrued expenses, taxes, and other liabilities | (99) | (2,088) | ||
Net cash (used in) provided by operating activities | (496) | 1,052 | ||
Cash flows from investing activities: | ||||
Net decrease in loans | 2,452 | 9 | ||
Maturities and prepayments of investment securities | 11,069 | 10,790 | ||
Purchases of investment securities | (30,726) | (22,634) | ||
Proceeds from sales of investment securities | 11,797 | 1,817 | ||
Redemption of bank stocks | 1,802 | 1,161 | ||
Purchase of bank stocks | (1,826) | (801) | ||
Proceeds from sales of foreclosed assets | 233 | 630 | ||
Purchases of premises and equipment, net | (12) | (178) | ||
Net cash used in investing activities | (5,211) | (9,206) | ||
Cash flows from financing activities: | ||||
Net increase (decrease) in deposits | 11,166 | (6,333) | ||
Federal Home Loan Bank advance borrowings | 148,857 | 46,717 | ||
Federal Home Loan Bank advance repayments | (154,507) | (37,206) | ||
Proceeds from other borrowings | 1,008 | 1,148 | ||
Proceeds from exercise of stock options | [2] | 23 | 825 | |
Payment of dividends | (774) | (713) | ||
Net cash provided by financing activities | 5,773 | 4,438 | ||
Net increase (decrease) in cash and cash equivalents | 66 | (3,716) | ||
Cash and cash equivalents at beginning of period | 19,996 | 13,569 | ||
Cash and cash equivalents at end of period | 20,062 | 9,853 | ||
Supplemental disclosure of cash flow information: | ||||
Cash payments for income taxes | 0 | 500 | ||
Cash paid for interest | 786 | 738 | ||
Supplemental schedule of noncash investing and financing activities: | ||||
Transfer of loans to real estate owned | 5 | 0 | ||
Investment securities purchases not yet settled | $ (3,443) | $ (7,160) | ||
[1] | Income tax expense, net earnings and diluted earnings per share for the period ended March 31, 2016 have been recast to reflect the early adoption of Accounting Standards Update ("ASU") 2016-09. | |||
[2] | Net earnings and proceeds from the exercise of stock options for the period ended March 31, 2016 have been recast to reflect the early adoption of ASU 2016-09. | |||
[3] | Net earnings for the period ended March 31, 2016 have been recast to reflect the early adoption of ASU 2016-09. | |||
[4] | Net earnings, earnings per share and assumed exercise of stock options for the period ended March 31, 2016 have been recast to relect the early adoption of ASU 2016-09. | |||
[5] | Net earnings and exercise of stock options for the period ended March 31, 2016 have been recast to reflect the early adoption of ASU 2016-09. |
Interim Financial Statements
Interim Financial Statements | 3 Months Ended |
Mar. 31, 2017 | |
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 its subsidiary, Landmark National Bank (the “Bank”) have been prepared in accordance with the instructions to Form 10-Q. Accordingly, they do not include all the information and footnotes required by U.S. 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 three month interim period ended March 31, 2017 are not necessarily indicative of the results expected for the year ending December 31, 2017 or any other future time period. The Company has evaluated subsequent events for recognition and disclosure up to the date the financial statements were issued. |
Investments
Investments | 3 Months Ended |
Mar. 31, 2017 | |
Investments, Debt and Equity Securities [Abstract] | |
Marketable Securities [Text Block] | 2. Investments As of March 31, 2017 Gross Gross Amortized unrealized unrealized Estimated (Dollars in thousands) cost gains losses fair value U. S. treasury securities $ 4,990 $ 8 $ - $ 4,998 U. S. federal agency obligations 21,419 44 (40) 21,423 Municipal obligations, tax exempt 176,646 893 (2,389) 175,150 Municipal obligations, taxable 67,954 468 (257) 68,165 Agency mortgage-backed securities 118,606 158 (1,067) 117,697 Certificates of deposit 8,724 - - 8,724 Common stocks 376 387 - 763 Total $ 398,715 $ 1,958 $ (3,753) $ 396,920 As of December 31, 2016 Gross Gross Amortized unrealized unrealized Estimated (Dollars in thousands) cost gains losses fair value U. S. treasury securities $ 6,005 $ 10 $ - $ 6,015 U. S. federal agency obligations 27,140 48 (49) 27,139 Municipal obligations, tax exempt 163,632 696 (2,666) 161,662 Municipal obligations, taxable 71,371 463 (271) 71,563 Agency mortgage-backed securities 109,427 171 (1,222) 108,376 Certificates of deposit 9,700 - - 9,700 Common stocks 458 650 - 1,108 Total $ 387,733 $ 2,038 $ (4,208) $ 385,563 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 March 31, 2017 and December 31, 2016. This temporary impairment represents the estimated amount of loss that would be realized if the securities were sold on the valuation date. As of March 31, 2017 (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 9 $ 11,841 $ (40) $ - $ - $ 11,841 $ (40) Municipal obligations, tax exempt 237 95,197 (2,389) - - 95,197 (2,389) Municipal obligations, taxable 66 27,071 (257) - - 27,071 (257) Agency mortgage-backed securities 47 82,491 (1,067) - - 82,491 (1,067) Total 359 $ 216,600 $ (3,753) $ - $ - $ 216,600 $ (3,753) As of December 31, 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 9 15,056 (49) - - 15,056 $ (49) Municipal obligations, tax exempt 275 97,842 (2,666) - - 97,842 $ (2,666) Municipal obligations, taxable 66 26,184 (271) - - 26,184 $ (271) Agency mortgage-backed securities 58 83,011 (1,222) - - 83,011 $ (1,222) Total 408 $ 222,093 $ (4,208) $ - $ - $ 222,093 $ (4,208) 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 March 31, 2017 and December 31, 2016. The Company’s portfolio of municipal obligations consists of both tax-exempt and taxable general obligations securities issued by various municipalities. As of March 31, 2017, the Company did not intend to sell and it is 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 its cost. 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 March 31, 2017 and December 31, 2016. 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. 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 March 31, 2017 and December 31, 2016. The table below sets forth amortized cost and fair value of investment securities at March 31, 2017. (Dollars in thousands) Amortized Estimated cost fair value Due in less than one year $ 29,722 $ 29,755 Due after one year but within five years 199,365 198,758 Due after five years but within ten years 83,169 82,960 Due after ten years 86,083 84,684 Common stocks 376 763 Total $ 398,715 $ 396,920 (Dollars in thousands) Three months ended March 31, 2017 2016 Sales proceeds $ 11,797 $ 1,817 Realized gains $ 171 $ 16 Realized losses (24) (4) Net realized gains $ 147 $ 12 Securities with carrying values of $ 217.5 224.3 10 |
Loans and Allowance for Loan Lo
Loans and Allowance for Loan Losses | 3 Months Ended |
Mar. 31, 2017 | |
Receivables [Abstract] | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | 3. Loans and Allowance for Loan Losses March 31, December 31, (Dollars in thousands) 2017 2016 One-to-four family residential real estate $ 137,301 $ 136,846 Construction and land 16,329 13,738 Commercial real estate 114,759 118,200 Commercial 54,102 54,506 Agriculture 76,124 78,324 Municipal 3,706 3,884 Consumer 21,088 20,271 Total gross loans 423,409 425,769 Net deferred loan costs and loans in process (127) 36 Allowance for loan losses (5,327) (5,344) Loans, net $ 417,955 $ 420,461 Three months ended March 31, 2017 (Dollars in thousands) One-to-four family residential Construction Commercial real estate and land real estate Commercial Agriculture Municipal Consumer Total Allowance for loan losses: Balance at January 1, 2017 $ 504 $ 53 $ 1,777 $ 1,119 $ 1,684 $ 12 $ 195 $ 5,344 Charge-offs (19) - - - - - (107) (126) Recoveries 1 - - 8 1 - 49 59 Provision for loan losses 7 18 (37) (26) 46 (1) 43 50 Balance at March 31, 2017 493 71 1,740 1,101 1,731 11 180 5,327 Three months ended March 31, 2016 (Dollars in thousands) One-to-four family residential Construction Commercial real estate and land real estate Commercial Agriculture Municipal Consumer Total Allowance for loan losses: Balance at January 1, 2016 $ 925 $ 77 $ 1,740 $ 1,530 $ 1,428 $ 23 $ 199 $ 5,922 Charge-offs - - - - - - (137) (137) Recoveries 2 - - 19 - - 13 34 Provision for loan losses (63) 5 91 (165) 55 1 126 50 Balance at March 31, 2016 864 82 1,831 1,384 1,483 24 201 5,869 As of March 31, 2017 (Dollars in thousands) One-to-four family residential Construction Commercial real estate and land real estate Commercial Agriculture Municipal Consumer Total Allowance for loan losses: Individually evaluated for loss - - 106 70 132 - - 308 Collectively evaluated for loss 493 71 1,634 1,031 1,599 11 180 5,019 Total 493 71 1,740 1,101 1,731 11 180 5,327 Loan balances: Individually evaluated for loss 665 1,851 2,437 320 983 221 39 6,516 Collectively evaluated for loss 136,636 14,478 112,322 53,782 75,141 3,485 21,049 416,893 Total $ 137,301 $ 16,329 $ 114,759 $ 54,102 $ 76,124 $ 3,706 $ 21,088 $ 423,409 As of December 31, 2016 (Dollars in thousands) One-to-four family residential Construction Commercial real estate and land real estate Commercial Agriculture Municipal Consumer Total Allowance for loan losses: Individually evaluated for loss - - 81 87 89 - 17 274 Collectively evaluated for loss 504 53 1,696 1,032 1,595 12 178 5,070 Total 504 53 1,777 1,119 1,684 12 195 5,344 Loan balances: Individually evaluated for loss 780 1,937 2,445 355 881 258 72 6,728 Collectively evaluated for loss 136,066 11,801 115,755 54,151 77,443 3,626 20,199 419,041 Total $ 136,846 $ 13,738 $ 118,200 $ 54,506 $ 78,324 $ 3,884 $ 20,271 $ 425,769 The Company recorded net loan charge-offs of $ 67,000 103,000 The Company’s impaired loans decreased from $ 6.7 6.5 (Dollars in thousands) As of March 31, 2017 Impaired Impaired Year-to- Unpaid loans loans with Related Year-to- date interest contractual Impaired without an an allowance date average income principal loan balance allowance allowance recorded loan balance recognized One-to-four family residential real estate $ 665 $ 665 $ 665 $ - $ - $ 669 $ 2 Construction and land 3,586 1,851 1,851 - - 1,899 16 Commercial real estate 2,437 2,437 2,151 286 106 2,449 124 Commercial 320 320 29 291 70 332 - Agriculture 1,198 983 102 881 132 996 1 Municipal 221 221 221 - - 251 2 Consumer 39 39 39 - - 39 - Total impaired loans $ 8,466 $ 6,516 $ 5,058 $ 1,458 $ 308 $ 6,635 $ 145 (Dollars in thousands) As of December 31, 2016 Impaired Impaired Year-to- Unpaid loans loans with Related Year-to- date interest contractual Impaired without an an allowance date average income principal loan balance allowance allowance recorded loan balance recognized One-to-four family residential real estate $ 780 $ 780 $ 780 $ - $ - $ 798 $ 7 Construction and land 3,672 1,937 1,937 - - 2,068 72 Commercial real estate 2,445 2,445 2,145 300 81 2,587 505 Commercial 355 355 46 309 87 425 2 Agriculture 1,173 881 147 734 89 1,000 2 Municipal 258 258 258 - - 418 - Consumer 72 72 55 17 17 78 13 Total impaired loans $ 8,755 $ 6,728 $ 5,368 $ 1,360 $ 274 $ 7,374 $ 601 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 March 31, 2017 or December 31, 2016. (Dollars in thousands) As of March 31, 2017 30-59 days 60-89 days 90 days or delinquent delinquent more Total past Total past and and delinquent due loans Non-accrual due and non- Total loans accruing accruing and accruing accruing loans accrual loans not past due One-to-four family residential real estate 334 92 - 426 $ 484 $ 910 $ 136,391 Construction and land - - - - 595 595 15,734 Commercial real estate 260 69 - 329 286 615 114,144 Commercial 160 13 - 173 316 489 53,613 Agriculture 58 328 - 386 940 1,326 74,798 Municipal - - - - - - 3,706 Consumer 40 18 - 58 39 97 20,991 Total $ 852 $ 520 $ - $ 1,372 $ 2,660 $ 4,032 $ 419,377 Percent of gross loans 0.20 % 0.12 % 0.00 % 0.32 % 0.63 % 0.95 % 99.05 % (Dollars in thousands) As of December 31, 2016 30-59 days 60-89 days 90 days or delinquent delinquent more Total past Total past and and delinquent due loans Non-accrual due and non- Total loans accruing accruing and accruing accruing loans accrual loans not past due One-to-four family residential real estate $ 215 $ 388 $ - $ 603 $ 595 $ 1,198 $ 135,648 Construction and land - - - - 599 599 13,139 Commercial real estate - - - - 300 300 117,900 Commercial 13 5 - 18 342 360 54,146 Agriculture 55 - - 55 838 893 77,431 Municipal - - - - - - 3,884 Consumer 79 3 - 82 72 154 20,117 Total $ 362 $ 396 $ - $ 758 $ 2,746 $ 3,504 $ 422,265 Percent of gross loans 0.09 % 0.09 % 0.00 % 0.18 % 0.64 % 0.82 % 99.18 % Under the original terms of the Company’s non-accrual loans, interest earned on such loans for the three months ended March 31, 2017 and 2016 would have increased interest income by $ 31,000 33,000 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. Nonclassified 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 March 31, 2017 As of December 31, 2016 (Dollars in thousands) Nonclassified Classified Nonclassified Classified One-to-four family residential real estate $ 136,143 $ 1,158 $ 135,640 $ 1,206 Construction and land 15,734 595 13,138 600 Commercial real estate 108,527 6,232 111,641 6,559 Commercial 50,614 3,488 51,080 3,426 Agriculture 71,377 4,747 73,564 4,760 Municipal 3,706 - 3,884 - Consumer 21,037 51 20,181 90 Total $ 407,138 $ 16,271 $ 409,128 $ 16,641 At March 31, 2017, the Company had twelve loan relationships consisting of eighteen outstanding loans that were classified as TDRs. During the first three months of 2017, the Company classified a $ 11,000 15,000 44,000 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 March 31, 2017 and 2016. At March 31, 2017, there was a commitment of $ 84,000 13,000 67,000 80,000 (Dollars in thousands) As of March 31, 2017 As of December 31, 2016 Number of Non-accrual Accruing Number of Non-accrual Accruing loans balance balance loans balance balance One-to-four family residential real estate 2 $ - $ 181 2 $ - $ 185 Construction and land 4 583 1,256 4 588 1,338 Commercial real estate 4 50 2,151 3 64 2,145 Commercial 1 - 3 2 - 13 Agriculture 5 268 44 4 268 44 Municipal 2 - 221 2 - 258 Total troubled debt restructurings 18 $ 901 $ 3,856 17 $ 920 $ 3,983 |
Goodwill and Other Intangible A
Goodwill and Other Intangible Assets | 3 Months Ended |
Mar. 31, 2017 | |
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, 2016 concluded that its goodwill was not impaired. The Company concluded there were no triggering events during the first three months of 2017 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. Mortgage servicing rights are amortized over the estimated life of the mortgage loan serviced for others. (Dollars in thousands) As of March 31, 2017 Gross carrying Accumulated Net carrying amount amortization amount Core deposit intangible assets $ 2,067 $ (1,201) $ 866 Lease intangible asset 350 (154) 196 Mortgage servicing rights 5,873 (3,086) 2,787 Total other intangible assets $ 8,290 $ (4,441) $ 3,849 (Dollars in thousands) As of December 31, 2016 Gross carrying Accumulated Net carrying amount amortization amount Core deposit intangible assets $ 2,067 $ (1,137) $ 930 Lease intangible asset 350 (143) 207 Mortgage servicing rights 5,788 (2,939) 2,849 Total other intangible assets $ 8,205 $ (4,219) $ 3,986 (Dollars in thousands) Amortization expense Remainder of 2017 $ 214 2018 252 2019 214 2020 177 2021 121 Thereafter 84 Total $ 1,062 Mortgage loans serviced for others are not reported as assets. (Dollars in thousands) March 31, December 31, 2017 2016 FHLMC $ 487,990 $ 483,356 FHLB 10,851 11,393 Total $ 498,841 $ 494,749 Custodial escrow balances maintained in connection with serviced loans were $ 7.2 4.1 319,000 300,000 Three months ended (Dollars in thousands) March 31, 2017 2016 Mortgage servicing rights: Balance at beginning of period $ 2,849 $ 2,840 Additions 161 221 Amortization (223) (253) Balance at end of period $ 2,787 $ 2,808 The fair value of mortgage servicing rights was $ 5.4 5.1 9.50 9.51 4.39 33.19 2.24 9.50 9.51 4.86 32.79 2.26 The Company had a mortgage repurchase reserve of $ 301,000 7,000 70,000 |
Earnings per Share
Earnings per Share | 3 Months Ended |
Mar. 31, 2017 | |
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. The diluted earnings per share computations for the three months ended March 31, 2017 and 2016 include all unexercised stock options because no stock options were anti-dilutive as of such dates. Three months ended (Dollars in thousands, except per share amounts) March 31, 2017 2016 Net earnings (1) $ 2,205 $ 2,393 Weighted average common shares outstanding - basic (2) 3,869,799 3,734,638 Assumed exercise of stock options (1)(2) 79,149 100,200 Weighted average common shares outstanding - diluted (1)(2) 3,948,948 3,834,838 Net earnings per share (1)(2): Basic $ 0.57 $ 0.64 Diluted $ 0.56 $ 0.63 (1) Net earnings, diluted earnings per share and assumed exercise of stock options for the period ended March 31, 2016 have been recast to relect the early adoption of ASU 2016-09. (2) Share and per share values for the period ended March 31, 2016 have been adjusted to give effect to the 5% stock dividend paid during December 2016. |
Repurchase Agreements
Repurchase Agreements | 3 Months Ended |
Mar. 31, 2017 | |
Banking and Thrift [Abstract] | |
Repurchase Agreements, Resale Agreements, Securities Borrowed, and Securities Loaned Disclosure [Text Block] | 6. Repurchase Agreements 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. As of March 31, 2017 Overnight and Greater Continuous Up to 30 days 30-90 days than 90 days Total Repurchase agreements: U.S. federal agency obligations $ 2,564 $ - $ - $ - $ 2,564 Agency mortgage-backed securities 10,927 - - - 10,927 Total $ 13,491 $ - $ - $ - $ 13,491 As of December 31, 2016 Overnight and Up to Greater Continuous 30 days 30-90 days than 90 days Total Repurchase agreements: U.S. federal agency obligations $ 5,007 $ - $ - $ - $ 5,007 Agency mortgage-backed securities 7,476 - - - 7,476 Total $ 12,483 $ - $ - $ - $ 12,483 Repurchase agreements are comprised of non-insured customer funds, totaling $ 13.5 12.5 19.7 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 | 3 Months Ended |
Mar. 31, 2017 | |
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 March 31, 2017 Carrying amount Level 1 Level 2 Level 3 Total Financial assets: Cash and cash equivalents $ 20,062 $ 20,062 $ - $ - $ 20,062 Investment securities available-for-sale 396,920 5,761 391,159 - 396,920 Bank stocks, at cost 5,323 n/a n/a n/a n/a Loans, net 417,955 - - 416,130 416,130 Loans held for sale 8,588 - 8,588 - 8,588 Derivative financial instruments 966 - 966 - 966 Accrued interest receivable 3,874 16 2,067 1,791 3,874 Financial liabilities: Non-maturity deposits $ (613,489) $ (613,489) $ - $ - (613,489) Time deposits (139,197) - (137,820) - (137,820) FHLB borrowings (33,450) - (33,967) - (33,967) Subordinated debentures (21,334) - (18,731) - (18,731) Other borrowings (13,491) - (13,491) - (13,491) Derivative financial instruments (154) - (154) - (154) Accrued interest payable (253) - (253) - (253) As of December 31, 2016 Carrying amount Level 1 Level 2 Level 3 Total Financial assets: Cash and cash equivalents $ 19,996 $ 19,996 $ - $ - $ 19,996 Investment securities available-for-sale 385,563 7,123 378,440 - 385,563 Bank stocks, at cost 5,299 n/a n/a n/a n/a Loans, net 420,461 - - 417,957 417,957 Loans held for sales 5,517 - 5,517 - 5,517 Derivative financial instruments 662 - 662 - 662 Accrued interest receivable 4,240 21 2,104 2,115 4,240 Financial liabilities: Non-maturity deposits $ (601,683) $ (601,683) $ - $ - (601,683) Time deposits (139,838) - (138,623) - (138,623) FHLB borrowings (39,100) - (35,695) - (35,695) Subordinated debentures (21,284) - (18,608) - (18,608) Other borrowings (12,483) - (12,483) - (12,483) Accrued interest payable (268) - (268) - (268) 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 Federal Reserve Bank 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 fair value. The mortgage loan valuations are based on quoted secondary market prices for similar loans and are classified as Level 2. The carrying amount 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 its 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 amount of these fees is not material. Transfers The Company did not transfer any assets or liabilities among levels during the three months ended March 31, 2017 or during the year ended December 31, 2016. Valuation Methods for Instruments Measured at Fair Value on a Recurring Basis (Dollars in thousands) As of March 31, 2017 Fair value hierarchy Total Level 1 Level 2 Level 3 Assets: Available-for-sale investment securities: U. S. treasury securities $ 4,998 $ 4,998 $ - $ - U. S. federal agency obligations 21,423 - 21,423 - Municipal obligations, tax exempt 175,150 - 175,150 - Municipal obligations, taxable 68,165 - 68,165 - Mortgage-backed securities 117,697 - 117,697 - Common stocks 763 763 - - Certificates of deposit 8,724 - 8,724 - Loans held for sale 8,588 - 8,588 - Derivative financial instruments 966 - 966 - Liabililty: Derivative financial instruments (154) - (154) - (Dollars in thousands) As of December 31, 2016 Fair value hierarchy Total Level 1 Level 2 Level 3 Assets: Available-for-sale investment securities: U. S. treasury securities $ 6,015 $ 6,015 $ - $ - U. S. federal agency obligations 27,139 - 27,139 - Municipal obligations, tax exempt 161,662 - 161,662 - Municipal obligations, taxable 71,563 - 71,563 - Agency mortgage-backed securities 108,376 - 108,376 - Common stocks 1,108 1,108 - - Certificates of deposit 9,700 - 9,700 - Loans held for sale 5,517 - 5,517 - Derivative financial instruments 662 - 662 - 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. As of As of March 31, December 31, (Dollars in thousands) 2017 2016 Aggregate fair value $ 8,588 $ 5,517 Contractual balance 8,443 5,480 Gain $ 145 $ 37 Three months ended March 31, (Dollars in thousands) 2017 2016 Interest income $ 45 $ 105 Change in fair value 109 79 Total change in fair value $ 154 $ 184 Valuation Methods for Instruments Measured at Fair Value on a Nonrecurring 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 $ 6.2 6.5 308 274 Real estate owned includes assets acquired through, or in lieu of, foreclosure and land previously acquired for expansion. Real estate owned is initially recorded at the fair value of the collateral less estimated selling costs. Subsequent valuations are updated periodically and are based upon independent appraisals, third party price opinions or internal pricing models. 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. Real estate owned is reviewed and evaluated at least annually for additional impairment and adjusted accordingly, based on the same factors identified above. (Dollars in thousands) As of March 31, 2017 Fair value hierarchy Total Level 1 Level 2 Level 3 Assets: Impaired loans: Commercial real estate $ 180 $ - $ - $ 180 Commercial 221 - - $ 221 Agriculture 749 - - $ 749 Real estate owned: One-to-four family residential real estate 329 - - 329 As of December 31, 2016 Fair value hierarchy Total Level 1 Level 2 Level 3 Assets: Impaired loans: Commercial real estate $ 219 $ - $ - $ 219 Commercial 222 - - 222 Agriculture 645 - - 645 Real estate owned: One-to-four family residential real estate 142 - - 142 (Dollars in thousands) Fair value Valuation technique Unobservable inputs Range As of March 31, 2017 Impaired loans: Commercial real estate $ 180 Sales comparison Adjustment to appraised value 0%-60% Commercial 221 Sales comparison Adjustment to appraised value 0%-80% Agriculture 749 Sales comparison Adjustment to appraised value 8%-80% Real estate owned: One-to-four family residential real estate 329 Sales comparison Adjustment to appraised value 10% As of December 31, 2016 Impaired loans: Commercial real estate $ 219 Sales comparison Adjustment to appraised value 2%-15% Commercial 222 Sales comparison Adjustment to comparable sales 7%-80% Agriculture 645 Sales comparison Adjustment to comparable sales 8%-80% Real estate owned: One-to-four family residential real estate 142 Sales comparison Adjustment to appraised value 10% |
Regulatory Capital Requirements
Regulatory Capital Requirements | 3 Months Ended |
Mar. 31, 2017 | |
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 believed that as of March 31, 2017, the Company and the Bank met 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. The Company and the Bank are subject to the 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 require a common equity Tier 1 capital to risk-weighted assets minimum ratio of 4.5 6.0 8.0 4.0 0.625 1.25 0.625 2.5 As of March 31, 2017 and December 31, 2016, 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 (1) As of March 31, 2017 Leverage $ 90,260 10.05 % $ 35,914 4.0 % Common Equity Tier 1 Capital 69,609 13.49 % 29,672 5.8 % Tier 1 Capital 90,260 17.49 % 37,413 7.3 % Total Risk Based Capital 95,901 18.58 % 47,733 9.3 % As of December 31, 2016 Leverage $ 88,819 10.04 % $ 35,370 4.0 % Common Equity Tier 1 Capital 68,263 13.32 % 26,265 5.1 % Tier 1 Capital 88,819 17.33 % 33,952 6.6 % Total Risk Based Capital 94,596 18.46 % 44,201 8.6 % (1) The required ratios for capital adequacy purposes include a capital conservation buffer of 1.25 0.625 To be well-capitalized under prompt (Dollars in thousands) For capital corrective Actual adequacy purposes action provisions Amount Ratio Amount Ratio(1) Amount Ratio As of March 31, 2017 Leverage $ 89,262 9.97 % $ 35,813 4.0 % $ 44,766 5.0 % Common Equity Tier 1 Capital 89,262 17.35 % 29,583 5.8 % 33,442 6.5 % Tier 1 Capital 89,262 17.35 % 37,301 7.3 % 41,159 8.0 % Total Risk Based Capital 94,729 18.41 % 47,591 9.3 % 51,449 10.0 % As of December 31, 2016 Leverage $ 88,076 9.98 % $ 35,284 4.0 % $ 44,105 5.0 % Common Equity Tier 1 Capital 88,076 17.23 % 26,194 5.1 % 33,222 6.5 % Tier 1 Capital 88,076 17.23 % 33,861 6.6 % 40,888 8.0 % Total Risk Based Capital 93,560 18.31 % 44,083 8.6 % 51,110 10.0 % (1) The required ratios for capital adequacy purposes include a capital conservation buffer of 1.25 0.625 |
Impact of Recent Accounting Pro
Impact of Recent Accounting Pronouncements | 3 Months Ended |
Mar. 31, 2017 | |
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”) 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 has concluded that the remaining requirements of this update are not expected 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. Management has concluded that based on the Company’s current operating leases, the adoption of ASU 2016-02 will not have a material impact on the Company’s consolidated financial statement 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 was permitted. The Company elected to adopt ASU 2016-09 in 2016. As a result of this election, income tax expense decreased by $ 308,000 12,000 116,000 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 expected 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 has initiated an implementation committee to assist in assessing data and system needs for the new standard. Management anticipates the effect will be an increase to the allowance for loan losses upon adoption. However, the size of the overall increase is uncertain at this time. In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Payments (a consensus of Emerging Issues Task Force). This ASU attempts to clarify how certain cash receipts and cash payments are presented and classified in the statement of cash flows. The purpose of this update is to reduce existing diversity in practice in eight areas addressed by the update. The amendments in this update are effective for fiscal years, and interim periods within those years, beginning after December 15, 2017. Early adoption is permitted. Management has concluded that the adoption of ASU 2016-15 will not have a material impact on the Company’s consolidated financial statements and related disclosures. In March 2017, the FASB issued ASU 2017-08, Receivables - Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities. The amendments in this Update shorten the amortization period for certain callable debt securities held at a premium. Specifically, the amendments require the premium to be amortized to the earliest call date. The amendments do not require an accounting change for securities held at a discount; the discount continues to be amortized to maturity. The provisions of this update become effective for interim and annual periods beginning after December 15, 2018. Management has concluded that based on the Company’s current portfolio of investment securities that the adoption of these amendments will result in shorter amortization period for investment security premiums, which will initially result in lower interest income on investment securities. |
Investments (Tables)
Investments (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
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 March 31, 2017 Gross Gross Amortized unrealized unrealized Estimated (Dollars in thousands) cost gains losses fair value U. S. treasury securities $ 4,990 $ 8 $ - $ 4,998 U. S. federal agency obligations 21,419 44 (40) 21,423 Municipal obligations, tax exempt 176,646 893 (2,389) 175,150 Municipal obligations, taxable 67,954 468 (257) 68,165 Agency mortgage-backed securities 118,606 158 (1,067) 117,697 Certificates of deposit 8,724 - - 8,724 Common stocks 376 387 - 763 Total $ 398,715 $ 1,958 $ (3,753) $ 396,920 As of December 31, 2016 Gross Gross Amortized unrealized unrealized Estimated (Dollars in thousands) cost gains losses fair value U. S. treasury securities $ 6,005 $ 10 $ - $ 6,015 U. S. federal agency obligations 27,140 48 (49) 27,139 Municipal obligations, tax exempt 163,632 696 (2,666) 161,662 Municipal obligations, taxable 71,371 463 (271) 71,563 Agency mortgage-backed securities 109,427 171 (1,222) 108,376 Certificates of deposit 9,700 - - 9,700 Common stocks 458 650 - 1,108 Total $ 387,733 $ 2,038 $ (4,208) $ 385,563 |
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 March 31, 2017 (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 9 $ 11,841 $ (40) $ - $ - $ 11,841 $ (40) Municipal obligations, tax exempt 237 95,197 (2,389) - - 95,197 (2,389) Municipal obligations, taxable 66 27,071 (257) - - 27,071 (257) Agency mortgage-backed securities 47 82,491 (1,067) - - 82,491 (1,067) Total 359 $ 216,600 $ (3,753) $ - $ - $ 216,600 $ (3,753) As of December 31, 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 9 15,056 (49) - - 15,056 $ (49) Municipal obligations, tax exempt 275 97,842 (2,666) - - 97,842 $ (2,666) Municipal obligations, taxable 66 26,184 (271) - - 26,184 $ (271) Agency mortgage-backed securities 58 83,011 (1,222) - - 83,011 $ (1,222) Total 408 $ 222,093 $ (4,208) $ - $ - $ 222,093 $ (4,208) |
Investments Classified by Contractual Maturity Date [Table Text Block] | The table 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. Securities with no maturity are listed separately. (Dollars in thousands) Amortized Estimated cost fair value Due in less than one year $ 29,722 $ 29,755 Due after one year but within five years 199,365 198,758 Due after five years but within ten years 83,169 82,960 Due after ten years 86,083 84,684 Common stocks 376 763 Total $ 398,715 $ 396,920 |
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 for the periods indicated: (Dollars in thousands) Three months ended March 31, 2017 2016 Sales proceeds $ 11,797 $ 1,817 Realized gains $ 171 $ 16 Realized losses (24) (4) Net realized gains $ 147 $ 12 |
Loans and Allowance for Loan 19
Loans and Allowance for Loan Losses (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Receivables [Abstract] | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | Loans consisted of the following as of the dates indicated below: March 31, December 31, (Dollars in thousands) 2017 2016 One-to-four family residential real estate $ 137,301 $ 136,846 Construction and land 16,329 13,738 Commercial real estate 114,759 118,200 Commercial 54,102 54,506 Agriculture 76,124 78,324 Municipal 3,706 3,884 Consumer 21,088 20,271 Total gross loans 423,409 425,769 Net deferred loan costs and loans in process (127) 36 Allowance for loan losses (5,327) (5,344) Loans, net $ 417,955 $ 420,461 |
Allowance for Credit Losses on Financing Receivables [Table Text Block] | The following tables provide information on the Company’s allowance for loan losses by loan class and allowance methodology: Three months ended March 31, 2017 (Dollars in thousands) One-to-four family residential Construction Commercial real estate and land real estate Commercial Agriculture Municipal Consumer Total Allowance for loan losses: Balance at January 1, 2017 $ 504 $ 53 $ 1,777 $ 1,119 $ 1,684 $ 12 $ 195 $ 5,344 Charge-offs (19) - - - - - (107) (126) Recoveries 1 - - 8 1 - 49 59 Provision for loan losses 7 18 (37) (26) 46 (1) 43 50 Balance at March 31, 2017 493 71 1,740 1,101 1,731 11 180 5,327 Three months ended March 31, 2016 (Dollars in thousands) One-to-four family residential Construction Commercial real estate and land real estate Commercial Agriculture Municipal Consumer Total Allowance for loan losses: Balance at January 1, 2016 $ 925 $ 77 $ 1,740 $ 1,530 $ 1,428 $ 23 $ 199 $ 5,922 Charge-offs - - - - - - (137) (137) Recoveries 2 - - 19 - - 13 34 Provision for loan losses (63) 5 91 (165) 55 1 126 50 Balance at March 31, 2016 864 82 1,831 1,384 1,483 24 201 5,869 As of March 31, 2017 (Dollars in thousands) One-to-four family residential Construction Commercial real estate and land real estate Commercial Agriculture Municipal Consumer Total Allowance for loan losses: Individually evaluated for loss - - 106 70 132 - - 308 Collectively evaluated for loss 493 71 1,634 1,031 1,599 11 180 5,019 Total 493 71 1,740 1,101 1,731 11 180 5,327 Loan balances: Individually evaluated for loss 665 1,851 2,437 320 983 221 39 6,516 Collectively evaluated for loss 136,636 14,478 112,322 53,782 75,141 3,485 21,049 416,893 Total $ 137,301 $ 16,329 $ 114,759 $ 54,102 $ 76,124 $ 3,706 $ 21,088 $ 423,409 As of December 31, 2016 (Dollars in thousands) One-to-four family residential Construction Commercial real estate and land real estate Commercial Agriculture Municipal Consumer Total Allowance for loan losses: Individually evaluated for loss - - 81 87 89 - 17 274 Collectively evaluated for loss 504 53 1,696 1,032 1,595 12 178 5,070 Total 504 53 1,777 1,119 1,684 12 195 5,344 Loan balances: Individually evaluated for loss 780 1,937 2,445 355 881 258 72 6,728 Collectively evaluated for loss 136,066 11,801 115,755 54,151 77,443 3,626 20,199 419,041 Total $ 136,846 $ 13,738 $ 118,200 $ 54,506 $ 78,324 $ 3,884 $ 20,271 $ 425,769 |
Impaired Financing Receivables [Table Text Block] | The following tables present information on impaired loans: (Dollars in thousands) As of March 31, 2017 Impaired Impaired Year-to- Unpaid loans loans with Related Year-to- date interest contractual Impaired without an an allowance date average income principal loan balance allowance allowance recorded loan balance recognized One-to-four family residential real estate $ 665 $ 665 $ 665 $ - $ - $ 669 $ 2 Construction and land 3,586 1,851 1,851 - - 1,899 16 Commercial real estate 2,437 2,437 2,151 286 106 2,449 124 Commercial 320 320 29 291 70 332 - Agriculture 1,198 983 102 881 132 996 1 Municipal 221 221 221 - - 251 2 Consumer 39 39 39 - - 39 - Total impaired loans $ 8,466 $ 6,516 $ 5,058 $ 1,458 $ 308 $ 6,635 $ 145 (Dollars in thousands) As of December 31, 2016 Impaired Impaired Year-to- Unpaid loans loans with Related Year-to- date interest contractual Impaired without an an allowance date average income principal loan balance allowance allowance recorded loan balance recognized One-to-four family residential real estate $ 780 $ 780 $ 780 $ - $ - $ 798 $ 7 Construction and land 3,672 1,937 1,937 - - 2,068 72 Commercial real estate 2,445 2,445 2,145 300 81 2,587 505 Commercial 355 355 46 309 87 425 2 Agriculture 1,173 881 147 734 89 1,000 2 Municipal 258 258 258 - - 418 - Consumer 72 72 55 17 17 78 13 Total impaired loans $ 8,755 $ 6,728 $ 5,368 $ 1,360 $ 274 $ 7,374 $ 601 |
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 March 31, 2017 30-59 days 60-89 days 90 days or delinquent delinquent more Total past Total past and and delinquent due loans Non-accrual due and non- Total loans accruing accruing and accruing accruing loans accrual loans not past due One-to-four family residential real estate 334 92 - 426 $ 484 $ 910 $ 136,391 Construction and land - - - - 595 595 15,734 Commercial real estate 260 69 - 329 286 615 114,144 Commercial 160 13 - 173 316 489 53,613 Agriculture 58 328 - 386 940 1,326 74,798 Municipal - - - - - - 3,706 Consumer 40 18 - 58 39 97 20,991 Total $ 852 $ 520 $ - $ 1,372 $ 2,660 $ 4,032 $ 419,377 Percent of gross loans 0.20 % 0.12 % 0.00 % 0.32 % 0.63 % 0.95 % 99.05 % (Dollars in thousands) As of December 31, 2016 30-59 days 60-89 days 90 days or delinquent delinquent more Total past Total past and and delinquent due loans Non-accrual due and non- Total loans accruing accruing and accruing accruing loans accrual loans not past due One-to-four family residential real estate $ 215 $ 388 $ - $ 603 $ 595 $ 1,198 $ 135,648 Construction and land - - - - 599 599 13,139 Commercial real estate - - - - 300 300 117,900 Commercial 13 5 - 18 342 360 54,146 Agriculture 55 - - 55 838 893 77,431 Municipal - - - - - - 3,884 Consumer 79 3 - 82 72 154 20,117 Total $ 362 $ 396 $ - $ 758 $ 2,746 $ 3,504 $ 422,265 Percent of gross loans 0.09 % 0.09 % 0.00 % 0.18 % 0.64 % 0.82 % 99.18 % |
Risk Categories By Loan Class [Table Text Block] | The following table provides information on the Company’s risk categories by loan class: As of March 31, 2017 As of December 31, 2016 (Dollars in thousands) Nonclassified Classified Nonclassified Classified One-to-four family residential real estate $ 136,143 $ 1,158 $ 135,640 $ 1,206 Construction and land 15,734 595 13,138 600 Commercial real estate 108,527 6,232 111,641 6,559 Commercial 50,614 3,488 51,080 3,426 Agriculture 71,377 4,747 73,564 4,760 Municipal 3,706 - 3,884 - Consumer 21,037 51 20,181 90 Total $ 407,138 $ 16,271 $ 409,128 $ 16,641 |
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | The following table presents information on loans that are classified as TDRs: (Dollars in thousands) As of March 31, 2017 As of December 31, 2016 Number of Non-accrual Accruing Number of Non-accrual Accruing loans balance balance loans balance balance One-to-four family residential real estate 2 $ - $ 181 2 $ - $ 185 Construction and land 4 583 1,256 4 588 1,338 Commercial real estate 4 50 2,151 3 64 2,145 Commercial 1 - 3 2 - 13 Agriculture 5 268 44 4 268 44 Municipal 2 - 221 2 - 258 Total troubled debt restructurings 18 $ 901 $ 3,856 17 $ 920 $ 3,983 |
Goodwill and Other Intangible20
Goodwill and Other Intangible Assets (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
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 March 31, 2017 Gross carrying Accumulated Net carrying amount amortization amount Core deposit intangible assets $ 2,067 $ (1,201) $ 866 Lease intangible asset 350 (154) 196 Mortgage servicing rights 5,873 (3,086) 2,787 Total other intangible assets $ 8,290 $ (4,441) $ 3,849 (Dollars in thousands) As of December 31, 2016 Gross carrying Accumulated Net carrying amount amortization amount Core deposit intangible assets $ 2,067 $ (1,137) $ 930 Lease intangible asset 350 (143) 207 Mortgage servicing rights 5,788 (2,939) 2,849 Total other intangible assets $ 8,205 $ (4,219) $ 3,986 |
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 2017 and in successive years ending December 31: (Dollars in thousands) Amortization expense Remainder of 2017 $ 214 2018 252 2019 214 2020 177 2021 121 Thereafter 84 Total $ 1,062 |
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) March 31, December 31, 2017 2016 FHLMC $ 487,990 $ 483,356 FHLB 10,851 11,393 Total $ 498,841 $ 494,749 |
Servicing Asset at Amortized Cost [Table Text Block] | Activity for mortgage servicing rights is as follows: Three months ended (Dollars in thousands) March 31, 2017 2016 Mortgage servicing rights: Balance at beginning of period $ 2,849 $ 2,840 Additions 161 221 Amortization (223) (253) Balance at end of period $ 2,787 $ 2,808 |
Earnings per Share (Tables)
Earnings per Share (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
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 (Dollars in thousands, except per share amounts) March 31, 2017 2016 Net earnings (1) $ 2,205 $ 2,393 Weighted average common shares outstanding - basic (2) 3,869,799 3,734,638 Assumed exercise of stock options (1)(2) 79,149 100,200 Weighted average common shares outstanding - diluted (1)(2) 3,948,948 3,834,838 Net earnings per share (1)(2): Basic $ 0.57 $ 0.64 Diluted $ 0.56 $ 0.63 (1) Net earnings, earnings per share and assumed exercise of stock options for the period ended March 31, 2016 have been recast to relect the early adoption of ASU 2016-09. (2) Share and per share values for the period ended March 31, 2016 have been adjusted to give effect to the 5 |
Repurchase Agreements (Tables)
Repurchase Agreements (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Banking and Thrift [Abstract] | |
Schedule of Repurchase Agreements [Table Text Block] | The following is a summary of the balances and collateral of the Company’s repurchase agreements: As of March 31, 2017 Overnight and Greater Continuous Up to 30 days 30-90 days than 90 days Total Repurchase agreements: U.S. federal agency obligations $ 2,564 $ - $ - $ - $ 2,564 Agency mortgage-backed securities 10,927 - - - 10,927 Total $ 13,491 $ - $ - $ - $ 13,491 As of December 31, 2016 Overnight and Up to Greater Continuous 30 days 30-90 days than 90 days Total Repurchase agreements: U.S. federal agency obligations $ 5,007 $ - $ - $ - $ 5,007 Agency mortgage-backed securities 7,476 - - - 7,476 Total $ 12,483 $ - $ - $ - $ 12,483 |
Fair Value of Financial Instr23
Fair Value of Financial Instruments and Fair Value Measurements (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Fair Value Disclosures [Abstract] | |
Fair Value, by Balance Sheet Grouping [Table Text Block] | Fair value estimates of the Company’s financial instruments as of March 31, 2017 and December 31, 2016, including methods and assumptions utilized, are set forth below: (Dollars in thousands) As of March 31, 2017 Carrying amount Level 1 Level 2 Level 3 Total Financial assets: Cash and cash equivalents $ 20,062 $ 20,062 $ - $ - $ 20,062 Investment securities available-for-sale 396,920 5,761 391,159 - 396,920 Bank stocks, at cost 5,323 n/a n/a n/a n/a Loans, net 417,955 - - 416,130 416,130 Loans held for sale 8,588 - 8,588 - 8,588 Derivative financial instruments 966 - 966 - 966 Accrued interest receivable 3,874 16 2,067 1,791 3,874 Financial liabilities: Non-maturity deposits $ (613,489) $ (613,489) $ - $ - (613,489) Time deposits (139,197) - (137,820) - (137,820) FHLB borrowings (33,450) - (33,967) - (33,967) Subordinated debentures (21,334) - (18,731) - (18,731) Other borrowings (13,491) - (13,491) - (13,491) Derivative financial instruments (154) - (154) - (154) Accrued interest payable (253) - (253) - (253) As of December 31, 2016 Carrying amount Level 1 Level 2 Level 3 Total Financial assets: Cash and cash equivalents $ 19,996 $ 19,996 $ - $ - $ 19,996 Investment securities available-for-sale 385,563 7,123 378,440 - 385,563 Bank stocks, at cost 5,299 n/a n/a n/a n/a Loans, net 420,461 - - 417,957 417,957 Loans held for sales 5,517 - 5,517 - 5,517 Derivative financial instruments 662 - 662 - 662 Accrued interest receivable 4,240 21 2,104 2,115 4,240 Financial liabilities: Non-maturity deposits $ (601,683) $ (601,683) $ - $ - (601,683) Time deposits (139,838) - (138,623) - (138,623) FHLB borrowings (39,100) - (35,695) - (35,695) Subordinated debentures (21,284) - (18,608) - (18,608) Other borrowings (12,483) - (12,483) - (12,483) Accrued interest payable (268) - (268) - (268) |
Fair Value, Assets Measured On Recurring Basis [Table Text Block] | The following tables represent the Company’s financial instruments that are measured at fair value on a recurring basis at March 31, 2017 and December 31, 2016, allocated to the appropriate fair value hierarchy: (Dollars in thousands) As of March 31, 2017 Fair value hierarchy Total Level 1 Level 2 Level 3 Assets: Available-for-sale investment securities: U. S. treasury securities $ 4,998 $ 4,998 $ - $ - U. S. federal agency obligations 21,423 - 21,423 - Municipal obligations, tax exempt 175,150 - 175,150 - Municipal obligations, taxable 68,165 - 68,165 - Mortgage-backed securities 117,697 - 117,697 - Common stocks 763 763 - - Certificates of deposit 8,724 - 8,724 - Loans held for sale 8,588 - 8,588 - Derivative financial instruments 966 - 966 - Liabililty: Derivative financial instruments (154) - (154) - (Dollars in thousands) As of December 31, 2016 Fair value hierarchy Total Level 1 Level 2 Level 3 Assets: Available-for-sale investment securities: U. S. treasury securities $ 6,015 $ 6,015 $ - $ - U. S. federal agency obligations 27,139 - 27,139 - Municipal obligations, tax exempt 161,662 - 161,662 - Municipal obligations, taxable 71,563 - 71,563 - Agency mortgage-backed securities 108,376 - 108,376 - Common stocks 1,108 1,108 - - Certificates of deposit 9,700 - 9,700 - Loans held for sale 5,517 - 5,517 - Derivative financial instruments 662 - 662 - |
Schedule Of Fair Value Contractual Balance And Gain Loss On Loans Held For Sale [Table Text Block] | The aggregate fair value, contractual balance (including accrued interest), and gain on loans held for sale were as follows: As of As of March 31, December 31, (Dollars in thousands) 2017 2016 Aggregate fair value $ 8,588 $ 5,517 Contractual balance 8,443 5,480 Gain $ 145 $ 37 |
Schedule of Gains and Losses from Changes in Fair Value of Loans Held for Sale [Table Text Block] | The total amount of gains from changes in fair value of loans held for sale included in earnings were as follows: Three months ended March 31, (Dollars in thousands) 2017 2016 Interest income $ 45 $ 105 Change in fair value 109 79 Total change in fair value $ 154 $ 184 |
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block] | The following tables represent the Company’s financial instruments that are measured at fair value on a non-recurring basis as of March 31, 2017 and December 31, 2016 allocated to the appropriate fair value hierarchy: (Dollars in thousands) As of March 31, 2017 Fair value hierarchy Total Level 1 Level 2 Level 3 Assets: Impaired loans: Commercial real estate $ 180 $ - $ - $ 180 Commercial 221 - - $ 221 Agriculture 749 - - $ 749 Real estate owned: One-to-four family residential real estate 329 - - 329 As of December 31, 2016 Fair value hierarchy Total Level 1 Level 2 Level 3 Assets: Impaired loans: Commercial real estate $ 219 $ - $ - $ 219 Commercial 222 - - 222 Agriculture 645 - - 645 Real estate owned: One-to-four family residential real estate 142 - - 142 |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Table Text Block] | The following table presents quantitative information about Level 3 fair value measurements measured at fair value on a non-recurring basis as of March 31, 2017 and December 31, 2016. (Dollars in thousands) Fair value Valuation technique Unobservable inputs Range As of March 31, 2017 Impaired loans: Commercial real estate $ 180 Sales comparison Adjustment to appraised value 0%-60% Commercial 221 Sales comparison Adjustment to appraised value 0%-80% Agriculture 749 Sales comparison Adjustment to appraised value 8%-80% Real estate owned: One-to-four family residential real estate 329 Sales comparison Adjustment to appraised value 10% As of December 31, 2016 Impaired loans: Commercial real estate $ 219 Sales comparison Adjustment to appraised value 2%-15% Commercial 222 Sales comparison Adjustment to comparable sales 7%-80% Agriculture 645 Sales comparison Adjustment to comparable sales 8%-80% Real estate owned: One-to-four family residential real estate 142 Sales comparison Adjustment to appraised value 10% |
Regulatory Capital Requiremen24
Regulatory Capital Requirements (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
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 March 31, 2017 and December 31, 2016: (Dollars in thousands) For capital Actual adequacy purposes Amount Ratio Amount Ratio (1) As of March 31, 2017 Leverage $ 90,260 10.05 % $ 35,914 4.0 % Common Equity Tier 1 Capital 69,609 13.49 % 29,672 5.8 % Tier 1 Capital 90,260 17.49 % 37,413 7.3 % Total Risk Based Capital 95,901 18.58 % 47,733 9.3 % As of December 31, 2016 Leverage $ 88,819 10.04 % $ 35,370 4.0 % Common Equity Tier 1 Capital 68,263 13.32 % 26,265 5.1 % Tier 1 Capital 88,819 17.33 % 33,952 6.6 % Total Risk Based Capital 94,596 18.46 % 44,201 8.6 % (1) The required ratios for capital adequacy purposes include a capital conservation buffer of 1.25 0.625 |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | The following is a comparison of the Bank’s regulatory capital to minimum capital requirements at March 31, 2017 and December 31, 2016: To be well-capitalized under prompt (Dollars in thousands) For capital corrective Actual adequacy purposes action provisions Amount Ratio Amount Ratio(1) Amount Ratio As of March 31, 2017 Leverage $ 89,262 9.97 % $ 35,813 4.0 % $ 44,766 5.0 % Common Equity Tier 1 Capital 89,262 17.35 % 29,583 5.8 % 33,442 6.5 % Tier 1 Capital 89,262 17.35 % 37,301 7.3 % 41,159 8.0 % Total Risk Based Capital 94,729 18.41 % 47,591 9.3 % 51,449 10.0 % As of December 31, 2016 Leverage $ 88,076 9.98 % $ 35,284 4.0 % $ 44,105 5.0 % Common Equity Tier 1 Capital 88,076 17.23 % 26,194 5.1 % 33,222 6.5 % Tier 1 Capital 88,076 17.23 % 33,861 6.6 % 40,888 8.0 % Total Risk Based Capital 93,560 18.31 % 44,083 8.6 % 51,110 10.0 % (1) The required ratios for capital adequacy purposes include a capital conservation buffer of 1.25 0.625 |
Investments (Details)
Investments (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost | $ 398,715 | $ 387,733 |
Gross unrealized gains | 1,958 | 2,038 |
Gross unrealized losses | (3,753) | (4,208) |
Estimated fair value | 396,920 | 385,563 |
U. S. treasury securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost | 4,990 | 6,005 |
Gross unrealized gains | 8 | 10 |
Gross unrealized losses | 0 | 0 |
Estimated fair value | 4,998 | 6,015 |
Common stocks [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost | 376 | 458 |
Gross unrealized gains | 387 | 650 |
Gross unrealized losses | 0 | 0 |
Estimated fair value | 763 | 1,108 |
U. S. federal agency obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost | 21,419 | 27,140 |
Gross unrealized gains | 44 | 48 |
Gross unrealized losses | (40) | (49) |
Estimated fair value | 21,423 | 27,139 |
Municipal obligations, tax exempt [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost | 176,646 | 163,632 |
Gross unrealized gains | 893 | 696 |
Gross unrealized losses | (2,389) | (2,666) |
Estimated fair value | 175,150 | 161,662 |
Municipal obligations, taxable [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost | 67,954 | 71,371 |
Gross unrealized gains | 468 | 463 |
Gross unrealized losses | (257) | (271) |
Estimated fair value | 68,165 | 71,563 |
Agency mortgage-backed securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost | 118,606 | 109,427 |
Gross unrealized gains | 158 | 171 |
Gross unrealized losses | (1,067) | (1,222) |
Estimated fair value | 117,697 | 108,376 |
Certificates of deposit [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost | 8,724 | 9,700 |
Gross unrealized gains | 0 | 0 |
Gross unrealized losses | 0 | 0 |
Estimated fair value | $ 8,724 | $ 9,700 |
Investments (Details 1)
Investments (Details 1) $ in Thousands | Mar. 31, 2017USD ($)Number | Dec. 31, 2016USD ($)Number |
Schedule of Available-for-sale Securities [Line Items] | ||
No. of securities | Number | 359 | 408 |
Fair value, Less than 12 months | $ 216,600 | $ 222,093 |
Unrealized losses, Less than 12 months | (3,753) | (4,208) |
Fair value, 12 months or longer | 0 | 0 |
Unrealized losses, 12 months or longer | 0 | 0 |
Total, Fair value | 216,600 | 222,093 |
Total, Unrealized losses | $ (3,753) | $ (4,208) |
U.S. federal agency obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
No. of securities | Number | 9 | 9 |
Fair value, Less than 12 months | $ 11,841 | $ 15,056 |
Unrealized losses, Less than 12 months | (40) | (49) |
Fair value, 12 months or longer | 0 | 0 |
Unrealized losses, 12 months or longer | 0 | 0 |
Total, Fair value | 11,841 | 15,056 |
Total, Unrealized losses | $ (40) | $ (49) |
Municipal obligations, tax exempt [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
No. of securities | Number | 237 | 275 |
Fair value, Less than 12 months | $ 95,197 | $ 97,842 |
Unrealized losses, Less than 12 months | (2,389) | (2,666) |
Fair value, 12 months or longer | 0 | 0 |
Unrealized losses, 12 months or longer | 0 | 0 |
Total, Fair value | 95,197 | 97,842 |
Total, Unrealized losses | $ (2,389) | $ (2,666) |
Municipal obligations, taxable [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
No. of securities | Number | 66 | 66 |
Fair value, Less than 12 months | $ 27,071 | $ 26,184 |
Unrealized losses, Less than 12 months | (257) | (271) |
Fair value, 12 months or longer | 0 | 0 |
Unrealized losses, 12 months or longer | 0 | 0 |
Total, Fair value | 27,071 | 26,184 |
Total, Unrealized losses | $ (257) | $ (271) |
Agency mortgage-backed securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
No. of securities | Number | 47 | 58 |
Fair value, Less than 12 months | $ 82,491 | $ 83,011 |
Unrealized losses, Less than 12 months | (1,067) | (1,222) |
Fair value, 12 months or longer | 0 | 0 |
Unrealized losses, 12 months or longer | 0 | 0 |
Total, Fair value | 82,491 | 83,011 |
Total, Unrealized losses | $ (1,067) | $ (1,222) |
Investments (Details 2)
Investments (Details 2) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost, Due in less than one year | $ 29,722 | |
Amortized cost, Due after one year but within five years | 199,365 | |
Amortized cost, Due after five years but within ten years | 83,169 | |
Amortized cost, Due after ten years | 86,083 | |
Amortized cost, Common stocks | 376 | |
Amortized cost, Total | 398,715 | $ 387,733 |
Estimated fair value, Due in less than one year | 29,755 | |
Estimated fair value, Due after one year but within five years | 198,758 | |
Estimated fair value, Due after five years but within ten years | 82,960 | |
Estimated fair value, Due after ten years | 84,684 | |
Estimated fair value, Common stocks | 763 | |
Estimated fair value, Total | $ 396,920 | $ 385,563 |
Investments (Details 3)
Investments (Details 3) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Schedule of Available-for-sale Securities [Line Items] | ||
Sales proceeds | $ 11,797 | $ 1,817 |
Realized gains | 171 | 16 |
Realized losses | (24) | (4) |
Net realized gains | $ 147 | $ 12 |
Investments (Details Textual)
Investments (Details Textual) - USD ($) $ in Millions | Mar. 31, 2017 | Dec. 31, 2016 |
Schedule of Available-for-sale Securities [Line Items] | ||
Security Owned and Pledged as Collateral, Fair Value, Total | $ 217.5 | $ 224.3 |
Equity Method Investment, Ownership Percentage | 10.00% |
Loans and Allowance for Loan 30
Loans and Allowance for Loan Losses (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 | Mar. 31, 2016 | Dec. 31, 2015 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Total gross loans | $ 423,409 | $ 425,769 | ||
Net deferred loan costs and loans in process | (127) | 36 | ||
Allowance for loan losses | (5,327) | (5,344) | $ (5,869) | $ (5,922) |
Loans, net | 417,955 | 420,461 | ||
Residential Real Estate [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Total gross loans | 137,301 | 136,846 | ||
Allowance for loan losses | (493) | (504) | (864) | (925) |
Loans, net | 137,301 | 136,846 | ||
Construction Loans [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Total gross loans | 16,329 | 13,738 | ||
Allowance for loan losses | (71) | (53) | (82) | (77) |
Loans, net | 16,329 | 13,738 | ||
Commercial Real Estate [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Total gross loans | 114,759 | 118,200 | ||
Allowance for loan losses | (1,740) | (1,777) | (1,831) | (1,740) |
Loans, net | 114,759 | 118,200 | ||
Commercial [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Total gross loans | 54,102 | 54,506 | ||
Allowance for loan losses | (1,101) | (1,119) | (1,384) | (1,530) |
Loans, net | 54,102 | 54,506 | ||
Agriculture [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Total gross loans | 76,124 | 78,324 | ||
Allowance for loan losses | (1,731) | (1,684) | (1,483) | (1,428) |
Loans, net | 76,124 | 78,324 | ||
Municipal Bonds [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Total gross loans | 3,706 | 3,884 | ||
Allowance for loan losses | (11) | (12) | (24) | (23) |
Loans, net | 3,706 | 3,884 | ||
Consumer [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Total gross loans | 21,088 | 20,271 | ||
Allowance for loan losses | (180) | (195) | $ (201) | $ (199) |
Loans, net | $ 21,088 | $ 20,271 |
Loans and Allowance for Loan 31
Loans and Allowance for Loan Losses (Details 1) - USD ($) $ in Thousands | 3 Months Ended | |||
Mar. 31, 2017 | Mar. 31, 2016 | Mar. 31, 2017 | Dec. 31, 2016 | |
Allowance for loan losses: | ||||
Balance | $ 5,344 | $ 5,922 | ||
Charge-offs | (126) | (137) | ||
Recoveries | 59 | 34 | ||
Provision for loan losses | 50 | 50 | ||
Balance | 5,327 | 5,869 | ||
Allowance for loan losses: | ||||
Individually evaluated for loss | $ 308 | $ 274 | ||
Collectively evaluated for loss | 5,019 | 5,070 | ||
Total | 5,327 | 5,922 | 5,327 | 5,344 |
Loan balances: | ||||
Individually evaluated for loss | 6,516 | 6,728 | ||
Collectively evaluated for loss | 416,893 | 419,041 | ||
Total | 417,955 | 420,461 | ||
Residential Real Estate [Member] | ||||
Allowance for loan losses: | ||||
Balance | 504 | 925 | ||
Charge-offs | (19) | 0 | ||
Recoveries | 1 | 2 | ||
Provision for loan losses | 7 | (63) | ||
Balance | 493 | 864 | ||
Allowance for loan losses: | ||||
Individually evaluated for loss | 0 | 0 | ||
Collectively evaluated for loss | 493 | 504 | ||
Total | 504 | 925 | 493 | 504 |
Loan balances: | ||||
Individually evaluated for loss | 665 | 780 | ||
Collectively evaluated for loss | 136,636 | 136,066 | ||
Total | 137,301 | 136,846 | ||
Construction Loans [Member] | ||||
Allowance for loan losses: | ||||
Balance | 53 | 77 | ||
Charge-offs | 0 | 0 | ||
Recoveries | 0 | 0 | ||
Provision for loan losses | 18 | 5 | ||
Balance | 71 | 82 | ||
Allowance for loan losses: | ||||
Individually evaluated for loss | 0 | 0 | ||
Collectively evaluated for loss | 71 | 53 | ||
Total | 53 | 77 | 71 | 53 |
Loan balances: | ||||
Individually evaluated for loss | 1,851 | 1,937 | ||
Collectively evaluated for loss | 14,478 | 11,801 | ||
Total | 16,329 | 13,738 | ||
Commercial Real Estate [Member] | ||||
Allowance for loan losses: | ||||
Balance | 1,777 | 1,740 | ||
Charge-offs | 0 | 0 | ||
Recoveries | 0 | 0 | ||
Provision for loan losses | (37) | 91 | ||
Balance | 1,740 | 1,831 | ||
Allowance for loan losses: | ||||
Individually evaluated for loss | 106 | 81 | ||
Collectively evaluated for loss | 1,634 | 1,696 | ||
Total | 1,777 | 1,740 | 1,740 | 1,777 |
Loan balances: | ||||
Individually evaluated for loss | 2,437 | 2,445 | ||
Collectively evaluated for loss | 112,322 | 115,755 | ||
Total | 114,759 | 118,200 | ||
Commercial [Member] | ||||
Allowance for loan losses: | ||||
Balance | 1,119 | 1,530 | ||
Charge-offs | 0 | 0 | ||
Recoveries | 8 | 19 | ||
Provision for loan losses | (26) | (165) | ||
Balance | 1,101 | 1,384 | ||
Allowance for loan losses: | ||||
Individually evaluated for loss | 70 | 87 | ||
Collectively evaluated for loss | 1,031 | 1,032 | ||
Total | 1,119 | 1,530 | 1,101 | 1,119 |
Loan balances: | ||||
Individually evaluated for loss | 320 | 355 | ||
Collectively evaluated for loss | 53,782 | 54,151 | ||
Total | 54,102 | 54,506 | ||
Agriculture [Member] | ||||
Allowance for loan losses: | ||||
Balance | 1,684 | 1,428 | ||
Charge-offs | 0 | 0 | ||
Recoveries | 1 | 0 | ||
Provision for loan losses | 46 | 55 | ||
Balance | 1,731 | 1,483 | ||
Allowance for loan losses: | ||||
Individually evaluated for loss | 132 | 89 | ||
Collectively evaluated for loss | 1,599 | 1,595 | ||
Total | 1,684 | 1,428 | 1,731 | 1,684 |
Loan balances: | ||||
Individually evaluated for loss | 983 | 881 | ||
Collectively evaluated for loss | 75,141 | 77,443 | ||
Total | 76,124 | 78,324 | ||
Municipal Bonds [Member] | ||||
Allowance for loan losses: | ||||
Balance | 12 | 23 | ||
Charge-offs | 0 | 0 | ||
Recoveries | 0 | 0 | ||
Provision for loan losses | (1) | 1 | ||
Balance | 11 | 24 | ||
Allowance for loan losses: | ||||
Individually evaluated for loss | 0 | 0 | ||
Collectively evaluated for loss | 11 | 12 | ||
Total | 12 | 23 | 11 | 12 |
Loan balances: | ||||
Individually evaluated for loss | 221 | 258 | ||
Collectively evaluated for loss | 3,485 | 3,626 | ||
Total | 3,706 | 3,884 | ||
Consumer [Member] | ||||
Allowance for loan losses: | ||||
Balance | 195 | 199 | ||
Charge-offs | (107) | (137) | ||
Recoveries | 49 | 13 | ||
Provision for loan losses | 43 | 126 | ||
Balance | 180 | 201 | ||
Allowance for loan losses: | ||||
Individually evaluated for loss | 0 | 17 | ||
Collectively evaluated for loss | 180 | 178 | ||
Total | $ 195 | $ 199 | 180 | 195 |
Loan balances: | ||||
Individually evaluated for loss | 39 | 72 | ||
Collectively evaluated for loss | 21,049 | 20,199 | ||
Total | $ 21,088 | $ 20,271 |
Loans and Allowance for Loan 32
Loans and Allowance for Loan Losses (Details 2) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017 | Dec. 31, 2016 | |
Financing Receivable, Impaired [Line Items] | ||
Unpaid contractual principal | $ 8,466 | $ 8,755 |
Impaired loan balance | 6,516 | 6,728 |
Impaired loans without an allowance | 5,058 | 5,368 |
Impaired loans with an allowance | 1,458 | 1,360 |
Related allowance recorded | 308 | 274 |
Year-to-date average loan balance | 6,635 | 7,374 |
Year-to-date interest income recognized | 145 | 601 |
Residential Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid contractual principal | 665 | 780 |
Impaired loan balance | 665 | 780 |
Impaired loans without an allowance | 665 | 780 |
Impaired loans with an allowance | 0 | 0 |
Related allowance recorded | 0 | 0 |
Year-to-date average loan balance | 669 | 798 |
Year-to-date interest income recognized | 2 | 7 |
Construction Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid contractual principal | 3,586 | 3,672 |
Impaired loan balance | 1,851 | 1,937 |
Impaired loans without an allowance | 1,851 | 1,937 |
Impaired loans with an allowance | 0 | 0 |
Related allowance recorded | 0 | 0 |
Year-to-date average loan balance | 1,899 | 2,068 |
Year-to-date interest income recognized | 16 | 72 |
Commercial Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid contractual principal | 2,437 | 2,445 |
Impaired loan balance | 2,437 | 2,445 |
Impaired loans without an allowance | 2,151 | 2,145 |
Impaired loans with an allowance | 286 | 300 |
Related allowance recorded | 106 | 81 |
Year-to-date average loan balance | 2,449 | 2,587 |
Year-to-date interest income recognized | 124 | 505 |
Commercial [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid contractual principal | 320 | 355 |
Impaired loan balance | 320 | 355 |
Impaired loans without an allowance | 29 | 46 |
Impaired loans with an allowance | 291 | 309 |
Related allowance recorded | 70 | 87 |
Year-to-date average loan balance | 332 | 425 |
Year-to-date interest income recognized | 0 | 2 |
Agriculture [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid contractual principal | 1,198 | 1,173 |
Impaired loan balance | 983 | 881 |
Impaired loans without an allowance | 102 | 147 |
Impaired loans with an allowance | 881 | 734 |
Related allowance recorded | 132 | 89 |
Year-to-date average loan balance | 996 | 1,000 |
Year-to-date interest income recognized | 1 | 2 |
Municipal [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid contractual principal | 221 | 258 |
Impaired loan balance | 221 | 258 |
Impaired loans without an allowance | 221 | 258 |
Impaired loans with an allowance | 0 | 0 |
Related allowance recorded | 0 | 0 |
Year-to-date average loan balance | 251 | 418 |
Year-to-date interest income recognized | 2 | 0 |
Consumer [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid contractual principal | 39 | 72 |
Impaired loan balance | 39 | 72 |
Impaired loans without an allowance | 39 | 55 |
Impaired loans with an allowance | 0 | 17 |
Related allowance recorded | 0 | 17 |
Year-to-date average loan balance | 39 | 78 |
Year-to-date interest income recognized | $ 0 | $ 13 |
Loans and Allowance for Loan 33
Loans and Allowance for Loan Losses (Details 3) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017 | Dec. 31, 2016 | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, 90 days or more delinquent and accruing | $ 0 | $ 0 |
Loans, Total past due loans accruing | 1,372 | 758 |
Loans, Non-accrual loans | 2,660 | 2,746 |
Loan, Total past due and non-accrual loans | 4,032 | 3,504 |
Loan, Total loans not past due | $ 419,377 | $ 422,265 |
Percent of gross loans, 30-59 days delinquent and accruing | 0.20% | 0.09% |
Percent of gross loans, 60-89 days delinquent and accruing | 0.12% | 0.09% |
Percent of gross loans, 90 days or more delinquent and accruing | 0.00% | 0.00% |
Percentage of gross loans, Total past due loans accruing | 0.32% | 0.18% |
Percent of gross loans, Non-accrual loans | 0.63% | 0.64% |
Percentage of Total past due and non-accrual loans | 0.95% | 0.82% |
Percentage of Total loans not past due | 99.05% | 99.18% |
Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | $ 852 | $ 362 |
Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 520 | 396 |
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 | 426 | 603 |
Loans, Non-accrual loans | 484 | 595 |
Loan, Total past due and non-accrual loans | 910 | 1,198 |
Loan, Total loans not past due | 136,391 | 135,648 |
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 | 334 | 215 |
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 | 92 | 388 |
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 | 0 | 0 |
Loans, Non-accrual loans | 595 | 599 |
Loan, Total past due and non-accrual loans | 595 | 599 |
Loan, Total loans not past due | 15,734 | 13,139 |
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 | 0 | 0 |
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 | 329 | 0 |
Loans, Non-accrual loans | 286 | 300 |
Loan, Total past due and non-accrual loans | 615 | 300 |
Loan, Total loans not past due | 114,144 | 117,900 |
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 | 260 | 0 |
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 | 69 | 0 |
Commercial [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 | 173 | 18 |
Loans, Non-accrual loans | 316 | 342 |
Loan, Total past due and non-accrual loans | 489 | 360 |
Loan, Total loans not past due | 53,613 | 54,146 |
Commercial [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 160 | 13 |
Commercial [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 13 | 5 |
Agriculture [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 | 386 | 55 |
Loans, Non-accrual loans | 940 | 838 |
Loan, Total past due and non-accrual loans | 1,326 | 893 |
Loan, Total loans not past due | 74,798 | 77,431 |
Agriculture [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 58 | 55 |
Agriculture [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 328 | 0 |
Municipal [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 |
Loan, Total past due and non-accrual loans | 0 | 0 |
Loan, Total loans not past due | 3,706 | 3,884 |
Municipal [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 [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 [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 | 58 | 82 |
Loans, Non-accrual loans | 39 | 72 |
Loan, Total past due and non-accrual loans | 97 | 154 |
Loan, Total loans not past due | 20,991 | 20,117 |
Consumer [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 40 | 79 |
Consumer [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | $ 18 | $ 3 |
Loans and Allowance for Loan 34
Loans and Allowance for Loan Losses (Details 4) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Financing Receivable, Modifications [Line Items] | ||
Loans and Leases Receivable, Gross, Total | $ 423,409 | $ 425,769 |
Loans Receivables Non Classified [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and Leases Receivable, Gross, Total | 407,138 | 409,128 |
Loans Receivables Classified [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and Leases Receivable, Gross, Total | 16,271 | 16,641 |
Residential Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and Leases Receivable, Gross, Total | 137,301 | 136,846 |
Residential Real Estate [Member] | Loans Receivables Non Classified [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and Leases Receivable, Gross, Total | 136,143 | 135,640 |
Residential Real Estate [Member] | Loans Receivables Classified [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and Leases Receivable, Gross, Total | 1,158 | 1,206 |
Construction Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and Leases Receivable, Gross, Total | 16,329 | 13,738 |
Construction Loans [Member] | Loans Receivables Non Classified [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and Leases Receivable, Gross, Total | 15,734 | 13,138 |
Construction Loans [Member] | Loans Receivables Classified [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and Leases Receivable, Gross, Total | 595 | 600 |
Commercial Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and Leases Receivable, Gross, Total | 114,759 | 118,200 |
Commercial Real Estate [Member] | Loans Receivables Non Classified [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and Leases Receivable, Gross, Total | 108,527 | 111,641 |
Commercial Real Estate [Member] | Loans Receivables Classified [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and Leases Receivable, Gross, Total | 6,232 | 6,559 |
Commercial [Member] | Loans Receivables Non Classified [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and Leases Receivable, Gross, Total | 50,614 | 51,080 |
Commercial [Member] | Loans Receivables Classified [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and Leases Receivable, Gross, Total | 3,488 | 3,426 |
Municipal [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and Leases Receivable, Gross, Total | 3,706 | 3,884 |
Municipal [Member] | Loans Receivables Non Classified [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and Leases Receivable, Gross, Total | 3,706 | 3,884 |
Municipal [Member] | Loans Receivables Classified [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and Leases Receivable, Gross, Total | 0 | 0 |
Agriculture [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and Leases Receivable, Gross, Total | 76,124 | 78,324 |
Agriculture [Member] | Loans Receivables Non Classified [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and Leases Receivable, Gross, Total | 71,377 | 73,564 |
Agriculture [Member] | Loans Receivables Classified [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and Leases Receivable, Gross, Total | 4,747 | 4,760 |
Consumer [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and Leases Receivable, Gross, Total | 21,088 | 20,271 |
Consumer [Member] | Loans Receivables Non Classified [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and Leases Receivable, Gross, Total | 21,037 | 20,181 |
Consumer [Member] | Loans Receivables Classified [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and Leases Receivable, Gross, Total | $ 51 | $ 90 |
Loans and Allowance for Loan 35
Loans and Allowance for Loan Losses (Details 5) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017USD ($)Number | Dec. 31, 2016USD ($)Number | |
Financing Receivable, Modifications, Recorded Investment, Non Accrual Balance | $ 2,660 | $ 2,746 |
Troubled Debt Restructurings [Member] | ||
Troubled debt restructurings, Number of loans | Number | 18 | 17 |
Financing Receivable, Modifications, Recorded Investment, Non Accrual Balance | $ 901 | $ 920 |
Financing Receivable, Modifications, Recorded Investment, Accruing Balance | $ 3,856 | $ 3,983 |
Municipal [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 | 221 | 258 |
Commercial [Member] | ||
Financing Receivable, Modifications, Recorded Investment, Non Accrual Balance | $ 316 | $ 342 |
Commercial [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 | $ 3 | $ 13 |
Construction Loans [Member] | Troubled Debt Restructurings [Member] | ||
Troubled debt restructurings, Number of loans | Number | 4 | 4 |
Financing Receivable, Modifications, Recorded Investment, Non Accrual Balance | $ 583 | $ 588 |
Financing Receivable, Modifications, Recorded Investment, Accruing Balance | $ 1,256 | $ 1,338 |
Agriculture [Member] | Troubled Debt Restructurings [Member] | ||
Troubled debt restructurings, Number of loans | Number | 5 | 4 |
Financing Receivable, Modifications, Recorded Investment, Non Accrual Balance | $ 268 | $ 268 |
Financing Receivable, Modifications, Recorded Investment, Accruing Balance | 44 | 44 |
Residential Real Estate [Member] | ||
Financing Receivable, Modifications, Recorded Investment, Non Accrual Balance | $ 484 | $ 595 |
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 | $ 0 |
Financing Receivable, Modifications, Recorded Investment, Accruing Balance | 181 | 185 |
Commercial Real Estate [Member] | ||
Financing Receivable, Modifications, Recorded Investment, Non Accrual Balance | $ 286 | $ 300 |
Commercial Real Estate [Member] | Troubled Debt Restructurings [Member] | ||
Troubled debt restructurings, Number of loans | Number | 4 | 3 |
Financing Receivable, Modifications, Recorded Investment, Non Accrual Balance | $ 50 | $ 64 |
Financing Receivable, Modifications, Recorded Investment, Accruing Balance | $ 2,151 | $ 2,145 |
Loans and Allowance for Loan 36
Loans and Allowance for Loan Losses (Details Textual) - USD ($) | 3 Months Ended | |||
Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | Dec. 31, 2015 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Impaired Financing Receivable Loan Balance Charged Off | $ 67,000 | $ 103,000 | ||
Loans and Leases Receivable, Impaired, Interest Lost on Nonaccrual Loans | 31,000 | 33,000 | ||
Impaired Financing Receivable, Recorded Investment, Total | 6,516,000 | $ 6,728,000 | ||
Loans and Leases Receivable, Allowance | 5,327,000 | $ 5,869,000 | 5,344,000 | $ 5,922,000 |
Provision For Loan Losses Reversal | 13,000 | |||
Trouble Debt Restructurings [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans Receivable, Gross, Commercial, Real Estate, Total | 11,000 | |||
Loans Receivable, Gross, Commercial, Agricultural | 44,000 | 15,000 | ||
Loans and Leases Receivable, Allowance | 67,000 | 80,000 | ||
Construction Loans [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and Leases Receivable, Impaired, Commitment to Lend | 84,000 | |||
Minimum [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Impaired Financing Receivable, Recorded Investment, Total | $ 6,700,000 | |||
Maximum [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Impaired Financing Receivable, Recorded Investment, Total | $ 6,500,000 |
Goodwill and Other Intangible37
Goodwill and Other Intangible Assets (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Finite-Lived Intangible Assets [Line Items] | ||
Intangible assets, Gross carrying amount | $ 8,290 | $ 8,205 |
Intangible assets, Accumulated amortization | (4,441) | (4,219) |
Intangible assets, Net carrying amount | 3,849 | 3,986 |
Core deposit intangible assets [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Intangible assets, Gross carrying amount | 2,067 | 2,067 |
Intangible assets, Accumulated amortization | (1,201) | (1,137) |
Intangible assets, Net carrying amount | 866 | 930 |
Lease intangible asset [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Intangible assets, Gross carrying amount | 350 | 350 |
Intangible assets, Accumulated amortization | (154) | (143) |
Intangible assets, Net carrying amount | 196 | 207 |
Mortgage servicing rights [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Intangible assets, Gross carrying amount | 5,873 | 5,788 |
Intangible assets, Accumulated amortization | (3,086) | (2,939) |
Intangible assets, Net carrying amount | $ 2,787 | $ 2,849 |
Goodwill and Other Intangible38
Goodwill and Other Intangible Assets (Details 1) $ in Thousands | Mar. 31, 2017USD ($) |
Finite-Lived Intangible Assets [Line Items] | |
Remainder of 2017 | $ 214 |
2,018 | 252 |
2,019 | 214 |
2,020 | 177 |
2,021 | 121 |
Thereafter | 84 |
Total | $ 1,062 |
Goodwill and Other Intangible39
Goodwill and Other Intangible Assets (Details 2) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Mortgage Loans on Real Estate [Line Items] | ||
Mortgage Loans on Real Estate, Face Amount of Mortgages | $ 498,841 | $ 494,749 |
FHLMC [Member] | ||
Mortgage Loans on Real Estate [Line Items] | ||
Mortgage Loans on Real Estate, Face Amount of Mortgages | 487,990 | 483,356 |
FHLB [Member] | ||
Mortgage Loans on Real Estate [Line Items] | ||
Mortgage Loans on Real Estate, Face Amount of Mortgages | $ 10,851 | $ 11,393 |
Goodwill and Other Intangible40
Goodwill and Other Intangible Assets (Details 3) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Mortgage servicing rights: | ||
Balance at beginning of period | $ 2,849 | $ 2,840 |
Additions | 161 | 221 |
Amortization | (223) | (253) |
Balance at end of period | $ 2,787 | $ 2,808 |
Goodwill and Other Intangible41
Goodwill and Other Intangible Assets (Details Textual) - USD ($) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | |
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 | 2.24% | 2.26% | |
Mortgage Loans Serviced [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Escrow Deposit | $ 7,200,000 | $ 4,100,000 | |
Interest and Fee Income, Other Loans | 319,000 | $ 300,000 | |
Servicing Asset at Fair Value, Amount | 5,400,000 | 5,100,000 | |
Mortgage Loans on Real Estate, Other Deductions | $ 70,000 | ||
Financing Receivable, Allowance for Credit Losses, Recovery | $ 7,000 | ||
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 | 4.39% | 4.86% | |
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 | 9.51% | 9.51% | |
Assumption for Fair Value of Assets or Liabilities that relate to Transferor's Continuing Involvement, Prepayment Speed | 33.19% | 32.79% | |
Mortgage Repurchase Reserve [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Mortgage Loans on Real Estate, Write-down or Reserve, Amount | $ 301,000 | $ 301,000 |
Earnings per Share (Details)
Earnings per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |||
Mar. 31, 2017 | Mar. 31, 2016 | |||
Net earnings | [1],[2],[3],[4] | $ 2,205 | $ 2,393 | [5] |
Weighted average common shares outstanding - basic | [6] | 3,869,799 | 3,734,638 | |
Assumed exercise of stock options | [4],[6] | 79,149 | 100,200 | |
Weighted average common shares outstanding - diluted | [4],[6] | 3,948,948 | 3,834,838 | |
Net earnings per share: | ||||
Basic | [4],[6],[7] | $ 0.57 | $ 0.64 | |
Diluted | [1],[4],[6],[7] | $ 0.56 | $ 0.63 | |
[1] | Income tax expense, net earnings and diluted earnings per share for the period ended March 31, 2016 have been recast to reflect the early adoption of Accounting Standards Update ("ASU") 2016-09. | |||
[2] | Net earnings and proceeds from the exercise of stock options for the period ended March 31, 2016 have been recast to reflect the early adoption of ASU 2016-09. | |||
[3] | Net earnings for the period ended March 31, 2016 have been recast to reflect the early adoption of ASU 2016-09. | |||
[4] | Net earnings, earnings per share and assumed exercise of stock options for the period ended March 31, 2016 have been recast to relect the early adoption of ASU 2016-09. | |||
[5] | Net earnings and exercise of stock options for the period ended March 31, 2016 have been recast to reflect the early adoption of ASU 2016-09. | |||
[6] | Share and per share values for the period ended March 31, 2016 have been adjusted to give effect to the 5% stock dividend paid during December 2016. | |||
[7] | Per share amounts for the period ended March 31, 2016 have been adjusted to give effect to the 5% stock dividend paid during December 2016. |
Earnings per Share (Details Tex
Earnings per Share (Details Textual) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2016 | Dec. 31, 2016 | ||
Percentage Of Stocks Dividend | 5.00% | [1] | 5.00% |
[1] | Share and per share values for the period ended March 31, 2016 have been adjusted to give effect to the 5% stock dividend paid during December 2016. |
Repurchase Agreements (Details)
Repurchase Agreements (Details) - USD ($) | Mar. 31, 2017 | Dec. 31, 2016 |
Assets Sold under Agreements to Repurchase [Line Items] | ||
Assets Sold under Agreements to Repurchase, Carrying Amount | $ 13,491 | $ 12,483 |
US Government Corporations and Agencies Securities [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Assets Sold under Agreements to Repurchase, Carrying Amount | 2,564 | 5,007 |
US Government Agencies Debt Securities [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Assets Sold under Agreements to Repurchase, Carrying Amount | 10,927 | 7,476 |
Maturity Overnight [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Assets Sold under Agreements to Repurchase, Carrying Amount | 13,491 | 12,483 |
Maturity Overnight [Member] | US Government Corporations and Agencies Securities [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Assets Sold under Agreements to Repurchase, Carrying Amount | 2,564 | 5,007 |
Maturity Overnight [Member] | US Government Agencies Debt Securities [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Assets Sold under Agreements to Repurchase, Carrying Amount | 10,927 | 7,476 |
Maturity Less than 30 Days [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Assets Sold under Agreements to Repurchase, Carrying Amount | 0 | 0 |
Maturity Less than 30 Days [Member] | US Government Corporations and Agencies Securities [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Assets Sold under Agreements to Repurchase, Carrying Amount | 0 | 0 |
Maturity Less than 30 Days [Member] | US Government Agencies Debt 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] | US Government Corporations and Agencies 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] | US Government Agencies Debt 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] | US Government Corporations and Agencies 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] | US Government Agencies Debt 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 | Mar. 31, 2017 | Dec. 31, 2016 |
Assets Sold under Agreements to Repurchase [Line Items] | ||
Customer Funds | $ 13.5 | $ 12.5 |
Repurchase Agreements [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Debt Instrument, Collateral Amount | $ 19.7 | $ 15.7 |
Fair Value of Financial Instr46
Fair Value of Financial Instruments and Fair Value Measurements (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 | Mar. 31, 2016 | Dec. 31, 2015 |
Financial assets: | ||||
Cash and cash equivalents, carrying amount | $ 20,062 | $ 19,996 | $ 9,853 | $ 13,569 |
Cash and cash equivalents | 20,062 | 19,996 | ||
Investment securities available for sale | 396,920 | 385,563 | ||
Bank stocks, at cost, carrying amount | 5,323 | 5,299 | ||
Loans, net | 416,130 | 417,957 | ||
Loans held for sale | 8,588 | 5,517 | ||
Loans, net, carrying amount | 417,955 | 420,461 | ||
Loans held for sale, net, carrying amount | 8,588 | 5,517 | ||
Derivative financial instruments | 966 | 662 | ||
Accrued interest receivable | 3,874 | 4,240 | ||
Financial liabilities: | ||||
Time deposits, carrying amount | (139,197) | (139,838) | ||
FHLB borrowings, carrying amount | (33,450) | (39,100) | ||
Subordinated debentures, carrying amount | (21,334) | (21,284) | ||
Other borrowings, carrying amount | (13,491) | (12,483) | ||
Non-maturity deposits | (613,489) | (601,683) | ||
Time deposits | (137,820) | (138,623) | ||
FHLB borrowings | (33,967) | (35,695) | ||
Subordinated debentures | (18,731) | (18,608) | ||
Other borrowings | (13,491) | (12,483) | ||
Derivative financial instruments | (154) | |||
Accrued interest payable | (253) | (268) | ||
Fair Value, Inputs, Level 1 [Member] | ||||
Financial assets: | ||||
Cash and cash equivalents | 20,062 | 19,996 | ||
Investment securities available for sale | 5,761 | 7,123 | ||
Loans, net | 0 | 0 | ||
Loans held for sale | 0 | 0 | ||
Derivative financial instruments | 0 | 0 | ||
Accrued interest receivable | 16 | 21 | ||
Financial liabilities: | ||||
Non-maturity deposits | (613,489) | (601,683) | ||
Time deposits | 0 | 0 | ||
FHLB borrowings | 0 | 0 | ||
Subordinated debentures | 0 | 0 | ||
Other borrowings | 0 | 0 | ||
Derivative financial instruments | 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 | 391,159 | 378,440 | ||
Loans, net | 0 | 0 | ||
Loans held for sale | 8,588 | 5,517 | ||
Derivative financial instruments | 966 | 662 | ||
Accrued interest receivable | 2,067 | 2,104 | ||
Financial liabilities: | ||||
Non-maturity deposits | 0 | 0 | ||
Time deposits | (137,820) | (138,623) | ||
FHLB borrowings | (33,967) | (35,695) | ||
Subordinated debentures | (18,731) | (18,608) | ||
Other borrowings | (13,491) | (12,483) | ||
Derivative financial instruments | (154) | |||
Accrued interest payable | (253) | (268) | ||
Fair Value, Inputs, Level 3 [Member] | ||||
Financial assets: | ||||
Cash and cash equivalents | 0 | 0 | ||
Investment securities available for sale | 0 | 0 | ||
Loans, net | 416,130 | 417,957 | ||
Loans held for sale | 0 | 0 | ||
Derivative financial instruments | 0 | 0 | ||
Accrued interest receivable | 1,791 | 2,115 | ||
Financial liabilities: | ||||
Non-maturity deposits | 0 | 0 | ||
Time deposits | 0 | 0 | ||
FHLB borrowings | 0 | 0 | ||
Subordinated debentures | 0 | 0 | ||
Other borrowings | 0 | 0 | ||
Derivative financial instruments | 0 | |||
Accrued interest payable | 0 | 0 | ||
Carrying Amount, Fair Value Disclosure [Member] | ||||
Financial assets: | ||||
Cash and cash equivalents, carrying amount | 20,062 | 19,996 | ||
Investment securities available for sale | 396,920 | 385,563 | ||
Bank stocks, at cost, carrying amount | 5,323 | 5,299 | ||
Loans held for sale | 5,517 | |||
Loans, net, carrying amount | 417,955 | 420,461 | ||
Loans held for sale, net, carrying amount | 8,588 | |||
Derivative financial instruments | 966 | 662 | ||
Accrued interest receivable, carrying amount | 3,874 | 4,240 | ||
Financial liabilities: | ||||
Non-maturity deposits, carrying amount | (613,489) | (601,683) | ||
Time deposits, carrying amount | (139,197) | (139,838) | ||
FHLB borrowings, carrying amount | (33,450) | (39,100) | ||
Subordinated debentures, carrying amount | (21,334) | (21,284) | ||
Other borrowings, carrying amount | (13,491) | (12,483) | ||
Accrued interest payable, carrying amount | (253) | $ (268) | ||
Derivative financial instruments | $ (154) |
Fair Value of Financial Instr47
Fair Value of Financial Instruments and Fair Value Measurements (Details 1) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Assets: | ||
Investment securities available-for-sale, at fair value | $ 396,920 | $ 385,563 |
Loans held for Sale | 8,588 | 5,517 |
Derivative financial instruments | 966 | 662 |
Liabilities: | ||
Derivative financial instruments, carrying amount | (154) | |
Common stocks [Member] | ||
Assets: | ||
Investment securities available-for-sale, at fair value | 763 | 1,108 |
Fair Value, Measurements, Recurring [Member] | ||
Assets: | ||
Loans held for Sale | 8,588 | |
Derivative financial instruments | 966 | 662 |
Liabilities: | ||
Derivative financial instruments, carrying amount | (154) | |
Fair Value, Measurements, Recurring [Member] | Common stocks [Member] | ||
Assets: | ||
Investment securities available-for-sale, at fair value | 763 | 1,108 |
Fair Value, Measurements, Recurring [Member] | Agency mortgage-backed securities [Member] | ||
Assets: | ||
Investment securities available-for-sale, at fair value | 117,697 | 108,376 |
U. S. federal agency obligations [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets: | ||
Investment securities available-for-sale, at fair value | 21,423 | 27,139 |
Municipal obligations, tax exempt [Member] | ||
Assets: | ||
Investment securities available-for-sale, at fair value | 175,150 | 161,662 |
Municipal obligations, tax exempt [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets: | ||
Investment securities available-for-sale, at fair value | 175,150 | 161,662 |
Municipal obligations, taxable [Member] | ||
Assets: | ||
Investment securities available-for-sale, at fair value | 68,165 | 71,563 |
Municipal obligations, taxable [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets: | ||
Investment securities available-for-sale, at fair value | 68,165 | 71,563 |
Loans Held for Sale [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets: | ||
Investment securities available-for-sale, at fair value | 5,517 | |
U. S. treasury securities [Member] | ||
Assets: | ||
Investment securities available-for-sale, at fair value | 4,998 | 6,015 |
U. S. treasury securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets: | ||
Investment securities available-for-sale, at fair value | 4,998 | 6,015 |
Certificates of deposit [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets: | ||
Investment securities available-for-sale, at fair value | 8,724 | 9,700 |
Fair Value, Inputs, Level 1 [Member] | ||
Assets: | ||
Investment securities available-for-sale, at fair value | 5,761 | 7,123 |
Loans held for Sale | 0 | 0 |
Derivative financial instruments | 0 | 0 |
Liabilities: | ||
Derivative financial instruments, carrying amount | 0 | |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets: | ||
Loans held for Sale | 0 | |
Derivative financial instruments | 0 | 0 |
Liabilities: | ||
Derivative financial instruments, carrying amount | 0 | |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Common stocks [Member] | ||
Assets: | ||
Investment securities available-for-sale, at fair value | 763 | 1,108 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Agency mortgage-backed securities [Member] | ||
Assets: | ||
Investment securities available-for-sale, at fair value | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | U. S. federal agency obligations [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets: | ||
Investment securities available-for-sale, at fair value | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Municipal obligations, tax exempt [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets: | ||
Investment securities available-for-sale, at fair value | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Municipal obligations, taxable [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets: | ||
Investment securities available-for-sale, at fair value | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Loans Held for Sale [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets: | ||
Investment securities available-for-sale, at fair value | 0 | |
Fair Value, Inputs, Level 1 [Member] | U. S. treasury securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets: | ||
Investment securities available-for-sale, at fair value | 4,998 | 6,015 |
Fair Value, Inputs, Level 1 [Member] | Certificates of deposit [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets: | ||
Investment securities available-for-sale, at fair value | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Assets: | ||
Investment securities available-for-sale, at fair value | 391,159 | 378,440 |
Loans held for Sale | 8,588 | 5,517 |
Derivative financial instruments | 966 | 662 |
Liabilities: | ||
Derivative financial instruments, carrying amount | (154) | |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets: | ||
Loans held for Sale | 8,588 | |
Derivative financial instruments | 966 | 662 |
Liabilities: | ||
Derivative financial instruments, carrying amount | (154) | |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Common stocks [Member] | ||
Assets: | ||
Investment securities available-for-sale, at fair value | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Agency mortgage-backed securities [Member] | ||
Assets: | ||
Investment securities available-for-sale, at fair value | 117,697 | 108,376 |
Fair Value, Inputs, Level 2 [Member] | U. S. federal agency obligations [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets: | ||
Investment securities available-for-sale, at fair value | 21,423 | 27,139 |
Fair Value, Inputs, Level 2 [Member] | Municipal obligations, tax exempt [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets: | ||
Investment securities available-for-sale, at fair value | 175,150 | 161,662 |
Fair Value, Inputs, Level 2 [Member] | Municipal obligations, taxable [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets: | ||
Investment securities available-for-sale, at fair value | 68,165 | 71,563 |
Fair Value, Inputs, Level 2 [Member] | Loans Held for Sale [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets: | ||
Investment securities available-for-sale, at fair value | 5,517 | |
Fair Value, Inputs, Level 2 [Member] | U. S. treasury securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets: | ||
Investment securities available-for-sale, at fair value | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Certificates of deposit [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets: | ||
Investment securities available-for-sale, at fair value | 8,724 | 9,700 |
Fair Value, Inputs, Level 3 [Member] | ||
Assets: | ||
Investment securities available-for-sale, at fair value | 0 | 0 |
Loans held for Sale | 0 | 0 |
Derivative financial instruments | 0 | 0 |
Liabilities: | ||
Derivative financial instruments, carrying amount | 0 | |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets: | ||
Loans held for Sale | 0 | |
Derivative financial instruments | 0 | 0 |
Liabilities: | ||
Derivative financial instruments, carrying amount | 0 | |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Common stocks [Member] | ||
Assets: | ||
Investment securities available-for-sale, at fair value | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Agency mortgage-backed securities [Member] | ||
Assets: | ||
Investment securities available-for-sale, at fair value | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | U. S. federal agency obligations [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets: | ||
Investment securities available-for-sale, at fair value | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Municipal obligations, tax exempt [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets: | ||
Investment securities available-for-sale, at fair value | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Municipal obligations, taxable [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets: | ||
Investment securities available-for-sale, at fair value | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Loans Held for Sale [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets: | ||
Investment securities available-for-sale, at fair value | 0 | |
Fair Value, Inputs, Level 3 [Member] | U. S. treasury securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets: | ||
Investment securities available-for-sale, at fair value | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Certificates of deposit [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets: | ||
Investment securities available-for-sale, at fair value | $ 0 | $ 0 |
Fair Value of Financial Instr48
Fair Value of Financial Instruments and Fair Value Measurements (Details 2) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017 | Dec. 31, 2016 | |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Aggregate fair value | $ 8,588 | $ 5,517 |
Contractual balance | 8,443 | 5,480 |
Gain | $ 145 | $ 37 |
Fair Value of Financial Instr49
Fair Value of Financial Instruments and Fair Value Measurements (Details 3) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Interest income | $ 45 | $ 105 |
Change in fair value | 109 | 79 |
Total change in fair value | $ 154 | $ 184 |
Fair Value of Financial Instr50
Fair Value of Financial Instruments and Fair Value Measurements (Details 4) - Fair Value, Measurements, Nonrecurring [Member] - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Commercial [Member] | ||
Assets: | ||
Impaired loans | $ 221 | $ 222 |
Agriculture [Member] | ||
Assets: | ||
Impaired loans | 749 | 645 |
One-to-four family residential real estate [Member] | ||
Assets: | ||
Impaired loans | 329 | 142 |
Commercial real estate [Member] | ||
Assets: | ||
Impaired loans | 180 | 219 |
Fair Value, Inputs, Level 1 [Member] | Commercial [Member] | ||
Assets: | ||
Impaired loans | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Agriculture [Member] | ||
Assets: | ||
Impaired loans | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | One-to-four family residential real estate [Member] | ||
Assets: | ||
Impaired loans | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Commercial real estate [Member] | ||
Assets: | ||
Impaired loans | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Commercial [Member] | ||
Assets: | ||
Impaired loans | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Agriculture [Member] | ||
Assets: | ||
Impaired loans | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | One-to-four family residential real estate [Member] | ||
Assets: | ||
Impaired loans | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Commercial real estate [Member] | ||
Assets: | ||
Impaired loans | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Commercial [Member] | ||
Assets: | ||
Impaired loans | 221 | 222 |
Fair Value, Inputs, Level 3 [Member] | Agriculture [Member] | ||
Assets: | ||
Impaired loans | 749 | 645 |
Fair Value, Inputs, Level 3 [Member] | One-to-four family residential real estate [Member] | ||
Assets: | ||
Impaired loans | 329 | 142 |
Fair Value, Inputs, Level 3 [Member] | Commercial real estate [Member] | ||
Assets: | ||
Impaired loans | $ 180 | $ 219 |
Fair Value of Financial Instr51
Fair Value of Financial Instruments and Fair Value Measurements (Details 5) - Fair Value, Measurements, Nonrecurring [Member] - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017 | Dec. 31, 2016 | |
One-to-four family residential real estate [Member] | ||
Impaired Loans Fair Value Disclosure | $ 142 | |
Real Estate Owned Fair Value Disclosure | $ 329 | |
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 Sales Comparison Range | 10.00% | 10.00% |
Commercial [Member] | ||
Impaired Loans Fair Value Disclosure | $ 221 | |
Fair Value Measurements, Valuation Techniques | Sales comparison | |
Fair Value Measurements, Changes in Valuation Techniques | Adjustment to appraised value | |
Agriculture [Member] | ||
Impaired Loans Fair Value Disclosure | $ 749 | $ 645 |
Fair Value Measurements, Valuation Techniques | Sales comparison | Sales comparison |
Fair Value Measurements, Changes in Valuation Techniques | Adjustment to appraised value | Adjustment to comparable sales |
Agriculture [Member] | Minimum [Member] | ||
Fair Value Measurements Sales Comparison Range | 8.00% | 8.00% |
Agriculture [Member] | Maximum [Member] | ||
Fair Value Measurements Sales Comparison Range | 80.00% | 80.00% |
Consumer loans [Member] | ||
Impaired Loans Fair Value Disclosure | $ 222 | |
Fair Value Measurements, Valuation Techniques | Sales comparison | |
Fair Value Measurements, Changes in Valuation Techniques | Adjustment to comparable sales | |
Consumer loans [Member] | Minimum [Member] | ||
Fair Value Measurements Sales Comparison Range | 0.00% | 7.00% |
Consumer loans [Member] | Maximum [Member] | ||
Fair Value Measurements Sales Comparison Range | 80.00% | 80.00% |
Commercial real estate [Member] | ||
Impaired Loans Fair Value Disclosure | $ 180 | $ 219 |
Fair Value Measurements, Valuation Techniques | Sales comparison | Sales comparison |
Fair Value Measurements, Changes in Valuation Techniques | Adjustment to appraised value | Adjustment to appraised value |
Commercial real estate [Member] | Minimum [Member] | ||
Fair Value Measurements Sales Comparison Range | 0.00% | 2.00% |
Commercial real estate [Member] | Maximum [Member] | ||
Fair Value Measurements Sales Comparison Range | 60.00% | 15.00% |
Fair Value of Financial Instr52
Fair Value of Financial Instruments and Fair Value Measurements (Details Textual) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Fair Value of Financial Instruments And Fair Value Measurements [Line Items] | ||
Impaired Financing Receivable, Related Allowance | $ 308 | $ 274 |
Impaired Financing Receivable, Recorded Investment, Total | $ 6,516 | $ 6,728 |
Regulatory Capital Requiremen53
Regulatory Capital Requirements (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 | |
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% | ||
Tier 1 Capital - For capital adequacy purposes Ratio | 6.00% | ||
Total Risk Based Capital - For capital adequacy purposes Ratio | 8.00% | ||
Companys Regulatory Capital Requirements [Member] | |||
Regulatory Capital Requirements [Line Items] | |||
Leverage - Actual Amount | $ 90,260 | $ 88,819 | |
Common Equity Tier 1 Capital - Actual Amount | 69,609 | 68,263 | |
Tier 1 Capital - Actual Amount | 90,260 | 88,819 | |
Total Risk Based Capital - Actual Amount | $ 95,901 | $ 94,596 | |
Leverage - Actual Ratio | 10.05% | 10.04% | |
Common Equity Tier 1 Capital - Actual Ratio | 13.49% | 13.32% | |
Tier 1 Capital - Actual Ratio | 17.49% | 17.33% | |
Total Risk Based Capital - Actual Ratio | 18.58% | 18.46% | |
Leverage - For capital adequacy purposes Amount | $ 35,914 | $ 35,370 | |
Common Equity Tier 1 Capital - For capital adequacy purposes Amount | 29,672 | 26,265 | |
Tier 1 Capital - For capital adequacy purposes Amount | 37,413 | 33,952 | |
Total Risk Based Capital - For capital adequacy purposes Amount | $ 47,733 | $ 44,201 | |
Leverage - For capital adequacy purposes Ratio | [1] | 4.00% | 4.00% |
Common Equity Tier 1 Capital - For capital adequacy purposes Ratio | [1] | 5.80% | 5.10% |
Tier 1 Capital - For capital adequacy purposes Ratio | [1] | 7.30% | 6.60% |
Total Risk Based Capital - For capital adequacy purposes Ratio | [1] | 9.30% | 8.60% |
[1] | The required ratios for capital adequacy purposes include a capital conservation buffer of 1.25% for March 31, 2017 and 0.625% for December 31, 2016. |
Regulatory Capital Requiremen54
Regulatory Capital Requirements (Details 1) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 | |
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% | ||
Tier 1 Capital - For capital adequacy purposes Ratio | 6.00% | ||
Total Risk Based Capital - For capital adequacy purposes Ratio | 8.00% | ||
Banks Regulatory Capital Requirements [Member] | |||
Regulatory Capital Requirements [Line Items] | |||
Leverage - Actual Amount | $ 89,262 | $ 88,076 | |
Common Equity Tier 1 Capital - Actual Amount | 89,262 | 88,076 | |
Tier 1 Capital - Actual Amount | 89,262 | 88,076 | |
Total Risk Based Capital - Actual Amount | $ 94,729 | $ 93,560 | |
Leverage - Actual Ratio | 9.97% | 9.98% | |
Common Equity Tier 1 Capital - Actual Ratio | 17.35% | 17.23% | |
Tier 1 Capital - Actual Ratio | 17.35% | 17.23% | |
Total Risk Based Capital - Actual Ratio | 18.41% | 18.31% | |
Leverage - For capital adequacy purposes Amount | $ 35,813 | $ 35,284 | |
Common Equity Tier 1 Capital - For capital adequacy purposes Amount | 29,583 | 26,194 | |
Tier 1 Capital - For capital adequacy purposes Amount | 37,301 | 33,861 | |
Total Risk Based Capital - For capital adequacy purposes Amount | $ 47,591 | $ 44,083 | |
Leverage - For capital adequacy purposes Ratio | [1] | 4.00% | 4.00% |
Common Equity Tier 1 Capital - For capital adequacy purposes Ratio | [1] | 5.80% | 5.10% |
Tier 1 Capital - For capital adequacy purposes Ratio | [1] | 7.30% | 6.60% |
Total Risk Based Capital - For capital adequacy purposes Ratio | [1] | 9.30% | 8.60% |
Leverage - To be well-capitalized under prompt corrective action provisions Amount | $ 44,766 | $ 44,105 | |
Common Equity Tier 1 Capital - To be well-capitalized under prompt corrective action provisions Amount | 33,442 | 33,222 | |
Tier 1 Capital - To be well-capitalized under prompt corrective action provisions Amount | 41,159 | 40,888 | |
Total Risk Based Capital - To be well-capitalized under prompt corrective action provisions Amount | $ 51,449 | $ 51,110 | |
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 required ratios for capital adequacy purposes include a capital conservation buffer of 1.25% for March 31, 2017 and 0.625% for December 31, 2016. |
Regulatory Capital Requiremen55
Regulatory Capital Requirements (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | 36 Months Ended | |
Mar. 31, 2017 | Dec. 31, 2016 | Jan. 01, 2019 | ||
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% | |||
Common Equity Tier One Risk Based Capital Required For Capital Adequacy To Risk Weighted Assets | 4.50% | |||
Assets, Total | $ 923,017 | $ 911,382 | ||
Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets | 6.00% | |||
Companys Regulatory Capital Requirements [Member] | ||||
Regulatory Capital Requirements [Line Items] | ||||
Tier One Leverage Capital Required for Capital Adequacy to Average Assets | [1] | 4.00% | 4.00% | |
Capital Required for Capital Adequacy to Risk Weighted Assets | [1] | 9.30% | 8.60% | |
Common Equity Tier One Risk Based Capital Required For Capital Adequacy To Risk Weighted Assets | [1] | 5.80% | 5.10% | |
Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets | [1] | 7.30% | 6.60% | |
Tier One Capital Conversation Buffer | 1.25% | 0.625% | ||
Banks Regulatory Capital Requirements [Member] | ||||
Regulatory Capital Requirements [Line Items] | ||||
Tier One Leverage Capital Required for Capital Adequacy to Average Assets | [1] | 4.00% | 4.00% | |
Capital Required for Capital Adequacy to Risk Weighted Assets | [1] | 9.30% | 8.60% | |
Common Equity Tier One Risk Based Capital Required For Capital Adequacy To Risk Weighted Assets | [1] | 5.80% | 5.10% | |
Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets | [1] | 7.30% | 6.60% | |
Tier One Capital Conversation Buffer | 1.25% | 0.625% | ||
Small Bank Holding Companies [Member] | ||||
Regulatory Capital Requirements [Line Items] | ||||
Assets, Total | $ 1,000,000 | |||
Capital Conservation Buffer [Member] | ||||
Regulatory Capital Requirements [Line Items] | ||||
Tier One Capital Conversation Buffer | 1.25% | 0.625% | ||
Tier One Capital Conversation Buffer Increase | 0.00% | |||
Capital Conservation Buffer [Member] | Scenario, Forecast [Member] | ||||
Regulatory Capital Requirements [Line Items] | ||||
Tier One Capital Conversation Buffer | 2.50% | |||
[1] | The required ratios for capital adequacy purposes include a capital conservation buffer of 1.25% for March 31, 2017 and 0.625% for December 31, 2016. |
Impact of Recent Accounting P56
Impact of Recent Accounting Pronouncements (Details Textual) - USD ($) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | |
Accounting Standards Update 2016-09 [Member] | |||
Employee Service Share-based Compensation, Tax Benefit Realized from Exercise of Stock Options | $ 12,000 | $ 116,000 | $ 308,000 |