Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2017 | Nov. 09, 2017 | |
Document And Entity Information | ||
Entity Registrant Name | LANDMARK BANCORP INC | |
Entity Central Index Key | 1,141,688 | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2017 | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Common Stock, Shares Outstanding | 3,873,781 | |
Trading Symbol | LARK | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2,017 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Assets | ||
Cash and cash equivalents | $ 18,772 | $ 19,996 |
Investment securities available-for-sale, at fair value | 389,388 | 385,563 |
Bank Stocks, at cost | 5,384 | 5,299 |
Loans, net of allowance for loans losses of $5,379 at September 30, 2017 and $5,344 at December 31, 2016 | 428,439 | 420,461 |
Loans held for sale, at fair value | 8,583 | 5,517 |
Premises and equipment, net | 20,999 | 20,407 |
Bank owned life insurance | 23,536 | 18,314 |
Goodwill | 17,532 | 17,532 |
Other intangible assets, net | 3,742 | 3,986 |
Real estate owned, net | 677 | 1,279 |
Accrued interest and other assets | 13,077 | 13,028 |
Total assets | 930,129 | 911,382 |
Deposits: | ||
Non-interest-bearing demand | 165,384 | 152,012 |
Money market and checking | 345,805 | 361,398 |
Savings | 94,570 | 88,273 |
Time | 127,251 | 139,838 |
Total deposits | 733,010 | 741,521 |
Federal Home Loan Bank borrowings | 64,400 | 39,100 |
Subordinated debentures | 21,434 | 21,284 |
Other borrowings | 11,487 | 12,483 |
Accrued interest, taxes, and other liabilities | 12,795 | 12,043 |
Total liabilities | 843,126 | 826,431 |
Stockholders' equity: | ||
Preferred stock, $0.01 par value per share, 200,000 shares authorized; none issued | ||
Common stock, $0.01 par value per share, 7,500,000 shares authorized; 3,873,781 and 3,868,077 shares issued and outstanding at September 30, 2017 and December 31, 2016, respectively | 39 | 38 |
Additional paid-in capital | 52,109 | 51,968 |
Retained earnings | 33,897 | 34,293 |
Accumulated other comprehensive income (loss) | 958 | (1,348) |
Total stockholders' equity | 87,003 | 84,951 |
Total liabilities and stockholders' equity | $ 930,129 | $ 911,382 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Statement of Financial Position [Abstract] | ||
Net of allowance for loans losses | $ 5,379 | $ 5,344 |
Preferred stock, par value | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized | 200,000 | 200,000 |
Preferred stock, shares issued | ||
Common stock, par value | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 7,500,000 | 7,500,000 |
Common stock, shares issued | 3,873,781 | 3,868,077 |
Common stock, shares, outstanding | 3,873,781 | 3,868,077 |
Consolidated Statements of Earn
Consolidated Statements of Earnings - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | ||
Interest income: | |||||
Taxable | $ 5,359 | $ 5,330 | $ 15,624 | $ 15,750 | |
Tax-exempt | 33 | 62 | 102 | 189 | |
Investment securities: | |||||
Taxable | 1,133 | 1,089 | 3,527 | 3,424 | |
Tax-exempt | 996 | 869 | 2,912 | 2,533 | |
Total interest income | 7,521 | 7,350 | 22,165 | 21,896 | |
Interest expense: | |||||
Deposits | 418 | 285 | 1,150 | 849 | |
Borrowings | 501 | 513 | 1,469 | 1,529 | |
Total interest expense | 919 | 798 | 2,619 | 2,378 | |
Net interest income | 6,602 | 6,552 | 19,546 | 19,518 | |
Provision for loan losses | 100 | 150 | 250 | 500 | |
Net interest income after provision for loan losses | 6,502 | 6,402 | 19,296 | 19,018 | |
Non-interest income: | |||||
Fees and service charges | 1,896 | 1,873 | 5,528 | 5,449 | |
Gains on sales of loans, net | 1,220 | 1,219 | 4,301 | 4,418 | |
Bank owned life insurance | 514 | 125 | 750 | 390 | |
Gains on sales of investment securities, net | 39 | 261 | 363 | 558 | |
Other | 267 | 264 | 823 | 769 | |
Total non-interest income | 3,936 | 3,742 | 11,765 | 11,584 | |
Non-interest expense: | |||||
Compensation and benefits | 3,933 | 3,903 | 11,608 | 11,481 | |
Occupancy and equipment | 1,107 | 1,131 | 3,228 | 3,242 | |
Amortization of intangibles | 320 | 373 | 946 | 1,041 | |
Data processing | 360 | 369 | 1,027 | 1,026 | |
Professional fees | 478 | 258 | 1,244 | 759 | |
Advertising | 166 | 166 | 498 | 498 | |
Federal deposit insurance premiums | 74 | 75 | 219 | 295 | |
Foreclosure and real estate owned expense | (18) | 60 | 83 | 176 | |
Deposit related loss | 8,082 | 8,082 | |||
Other | 1,120 | 1,059 | 3,287 | 3,249 | |
Total non-interest expense | 15,622 | 7,394 | 30,222 | 21,767 | |
Earnings (loss) before income taxes | (5,184) | 2,750 | 839 | 8,835 | |
Income tax (benefit) expense | [1] | (2,523) | 594 | (1,088) | 1,960 |
Net (loss) earnings | [1],[2] | $ (2,661) | $ 2,156 | $ 1,927 | $ 6,875 |
Earnings (loss) per share: | |||||
Basic | [1],[3] | $ (0.69) | $ 0.56 | $ 0.50 | $ 1.82 |
Diluted | [1],[3] | (0.69) | 0.55 | 0.49 | 1.78 |
Dividends per shar | [3] | $ 0.20 | $ 0.19 | $ 0.60 | $ 0.57 |
[1] | Income tax expense, net earnings, and earnings per share for the periods ended September 30, 2016 have been recast to reflect the early adoption of Accounting Standards Update ("ASU") 2016-09 | ||||
[2] | Net earnings for the periods ended September 30, 2016 have been recast to reflect the early adoption of ASU 2016-09. | ||||
[3] | Per share amounts for the periods ended September 30, 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 | 9 Months Ended | |||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | ||
Statement of Comprehensive Income [Abstract] | |||||
Net (loss) earnings | [1],[2] | $ (2,661) | $ 2,156 | $ 1,927 | $ 6,875 |
Net unrealized holding (losses) gains on available-for-sale securities | (973) | (2,073) | 4,046 | 5,088 | |
Reclassification adjustment for net gains included in earnings | (39) | (261) | (363) | (558) | |
Net unrealized (losses) gains | (1,012) | (2,334) | 3,683 | 4,530 | |
Income tax effect on net gains included in earnings | 15 | 97 | 134 | 206 | |
Income tax effect on net unrealized holding gains (losses) | 359 | 760 | (1,511) | (1,893) | |
Other comprehensive (loss) income | (638) | (1,477) | 2,306 | 2,843 | |
Total comprehensive (loss) income | $ (3,299) | $ 679 | $ 4,233 | $ 9,718 | |
[1] | Income tax expense, net earnings, and earnings per share for the periods ended September 30, 2016 have been recast to reflect the early adoption of Accounting Standards Update ("ASU") 2016-09 | ||||
[2] | Net earnings for the periods ended September 30, 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 | Common Stock [Member] | Additional Paid-In Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Total | ||||||
Balance at Dec. 31, 2015 | $ 35 | $ 45,372 | $ 32,988 | $ 2,175 | $ 80,570 | ||||||
Net earnings | [1],[3] | [2] | [2] | 6,875 | [2] | [2] | 6,875 | ||||
Other comprehensive income | 2,843 | 2,843 | |||||||||
Dividends paid | (2,167) | (2,167) | |||||||||
Exercise of stock options | [2] | 1 | 1,641 | 1,642 | |||||||
Stock-based compensation | 23 | 23 | |||||||||
Balance at Sep. 30, 2016 | 36 | 47,036 | 37,696 | 5,018 | 89,786 | ||||||
Balance at Dec. 31, 2016 | 38 | 51,968 | 34,293 | (1,348) | 84,951 | ||||||
Net earnings | 1,927 | 1,927 | [1],[3] | ||||||||
Other comprehensive income | 2,306 | 2,306 | |||||||||
Dividends paid | (2,323) | (2,323) | |||||||||
Exercise of stock options | 1 | 22 | 23 | ||||||||
Stock-based compensation | 119 | 119 | |||||||||
Balance at Sep. 30, 2017 | $ 39 | $ 52,109 | $ 33,897 | $ 958 | $ 87,003 | ||||||
[1] | Income tax expense, net earnings, and earnings per share for the periods ended September 30, 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 September 30, 2016 have been recast to reflect the early adoption of ASU 2016-09. | ||||||||||
[3] | Net earnings for the periods ended September 30, 2016 have been recast to reflect the early adoption of ASU 2016-09. |
Consolidated Statements of Sto7
Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares | 9 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | |
Statement of Stockholders' Equity [Abstract] | ||
Dividend, per share | $ 0.60 | $ 0.57 |
Excise of stock option, shares | 2,968 | 117,919 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | ||
Cash flows from operating activities: | |||
Net earnings | [1],[2] | $ 1,927 | $ 6,875 |
Adjustments to reconcile net earnings to net cash provided by operating activities: | |||
Provision for loan losses | 250 | 500 | |
Valuation allowance on real estate owned | 92 | ||
Amortization of investment security premiums, net | 1,415 | 1,238 | |
Amortization of purchase accounting adjustment on loans | (149) | (75) | |
Amortization of purchase accounting adjustment on subordinated debentures | 150 | 150 | |
Amortization of intangibles | 946 | 1,041 | |
Depreciation | 773 | 866 | |
Increase in cash surrender value of bank owned life insurance | (750) | (390) | |
Stock-based compensation | 119 | 23 | |
Deferred income taxes | (1,060) | 594 | |
Net gains on sales of investment securities | (363) | (558) | |
Net (gain) loss on sales of premises, equipment and real estate owned | (17) | 89 | |
Net gains on sales of loans | (4,301) | (4,418) | |
Proceeds from sales of loans | 132,015 | 173,967 | |
Origination of loans held for sale | (130,780) | (164,182) | |
Changes in assets and liabilities: | |||
Accrued interest and other assets | (1,033) | (2,305) | |
Accrued expenses, taxes, and other liabilities | (852) | 1,764 | |
Net cash (used in) provided by operating activities | (1,618) | 15,179 | |
Cash flows from investing activities: | |||
Net increase in loans | (8,292) | (11,650) | |
Maturities and prepayments of investment securities | 42,716 | 32,061 | |
Purchases of investment securities | (55,820) | (62,230) | |
Proceeds from sales of investment securities | 13,513 | 14,326 | |
Redemption of bank stocks | 7,408 | 4,686 | |
Purchase of bank stocks | (7,493) | (5,058) | |
Proceeds from sales of premises and equipment and foreclosed assets | 707 | 813 | |
Proceeds from bank owned life insurance | 528 | 358 | |
Purchase of bank owned life insurance | (5,000) | ||
Purchases of premises and equipment, net | (1,367) | (518) | |
Net cash used in investing activities | (13,100) | (27,212) | |
Cash flows from financing activities: | |||
Net (decrease) increase in deposits | (8,510) | 988 | |
Federal Home Loan Bank advance borrowings | 514,443 | 276,833 | |
Federal Home Loan Bank advance repayments | (489,143) | (261,733) | |
Proceeds from other borrowings | 100 | 551 | |
Repayments on other borrowings | (1,096) | ||
Proceeds from exercise of stock options | [3] | 23 | 1,642 |
Payment of dividends | (2,323) | (2,167) | |
Net cash provided by financing activities | 13,494 | 16,373 | |
Net (decrease) increase in cash and cash equivalents | (1,224) | 4,081 | |
Cash and cash equivalents at beginning of period | 19,996 | 13,569 | |
Cash and cash equivalents at end of period | 18,772 | 17,650 | |
Supplemental disclosure of cash flow information: | |||
Cash payments for income taxes | 800 | 510 | |
Cash paid for interest | 2,468 | 2,254 | |
Supplemental schedule of noncash investing and financing activities: | |||
Transfer of loans to real estate owned | 180 | 1,077 | |
Investment securities purchases not yet settled | $ (1,604) | $ (1,295) | |
[1] | Income tax expense, net earnings, and earnings per share for the periods ended September 30, 2016 have been recast to reflect the early adoption of Accounting Standards Update ("ASU") 2016-09 | ||
[2] | Net earnings for the periods ended September 30, 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 September 30, 2016 have been recast to reflect the early adoption of ASU 2016-09. |
Interim Financial Statements
Interim Financial Statements | 9 Months Ended |
Sep. 30, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Interim Financial Statements | 1. Interim Financial Statements The unaudited consolidated financial statements of Landmark Bancorp, Inc. (the “Company”) and subsidiaries have been prepared in accordance with the instructions to Form 10-Q. Accordingly, they do not include all the information and footnotes required by generally accepted accounting principles (“GAAP”) for complete financial statements and should be read in conjunction with the Company’s most recent annual report on Form 10-K, containing the latest audited consolidated financial statements and notes thereto. The consolidated financial statements in this report have not been audited by an independent registered public accounting firm, but in the opinion of management, all adjustments, consisting of normal recurring accruals, considered necessary for a fair presentation of financial statements, have been reflected herein. The results of the nine months ended September 30, 2017 |
Investments
Investments | 9 Months Ended |
Sep. 30, 2017 | |
Investments, Debt and Equity Securities [Abstract] | |
Investments | 2. Investments A summary of investment securities available-for-sale is as follows: (Dollars in thousands) As of September 30, 2017 Gross Gross Amortized unrealized unrealized Estimated cost gains losses fair value U. S. treasury securities $ 4,997 $ 17 $ - $ 5,014 U. S. federal agency obligations 20,354 29 (40 ) 20,343 Municipal obligations, tax exempt 179,116 2,236 (781 ) 180,571 Municipal obligations, taxable 59,610 636 (92 ) 60,154 Agency mortgage-backed securities 114,412 197 (850 ) 113,759 Certificates of deposit 9,224 - - 9,224 Common stocks 162 161 - 323 Total $ 387,875 $ 3,276 $ (1,763 ) $ 389,388 (Dollars in thousands) As of December 31, 2016 Gross Gross Amortized unrealized unrealized Estimated 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 September 30, 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. Securities which were temporarily impaired are shown below, along with the length of time in a continuous unrealized loss position. (Dollars in thousands) As of September 30, 2017 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 10 $13,812 $(35) $995 $(5) $14,807 $(40) Municipal obligations, tax exempt 116 17,851 (141 ) 32,217 (640 ) 50,068 (781 ) Municipal obligations, taxable 43 14,117 (70 ) 1,723 (22 ) 15,840 (92 ) Agency mortgage-backed securities 60 78,000 (666 ) 7,640 (184 ) 85,640 (850 ) Total 229 $ 123,780 $ (912 ) $ 42,575 $ (851 ) $ 166,355 $ (1,763 ) (Dollars in thousands) As of December 31, 2016 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 September 30, 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 September 30, 2017, the Company did not intend to sell and it was more likely than not that the Company will not be required to sell its municipal obligations in an unrealized loss position until the recovery of their costs. Due to the issuers’ continued satisfaction of the securities’ obligations in accordance with their contractual terms and the expectation that they will continue to do so, the evaluation of the fundamentals of the issuers’ financial condition and other objective evidence, the Company believed that the municipal obligations identified in the tables above were temporarily impaired as of September 30, 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 (“GNMA”). The receipt of principal, at par, and interest on agency mortgage-backed securities is guaranteed by the respective government-sponsored agency guarantor, such that the Company believed that its agency mortgage-backed securities did not expose the Company to credit-related losses. Based on these factors, along with the Company’s intent to not sell the securities and the Company’s belief that it was more likely than not that the Company will not be required to sell the securities before recovery of their cost basis, the Company believed that the agency mortgage-backed securities identified in the tables above were temporarily impaired as of September 30, 2017 and December 31, 2016. The table below sets forth amortized cost and fair value of investment securities at September 30, 2017. 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. Amortized Estimated (Dollars in thousands) cost fair value Due in less than one year $ 28,765 $ 28,794 Due after one year but within five years 176,397 176,366 Due after five years but within ten years 97,814 98,668 Due after ten years 84,737 85,237 Common stocks 162 323 Total $ 387,875 $ 389,388 Sales proceeds and gross realized gains and losses on sales of available-for-sale securities are as follows: (Dollars in thousands) Three months ended September 30, Nine months ended September 30, 2017 2016 2017 2016 Sales proceeds $ 54 $ 708 $ 13,513 $ 14,326 Realized gains $ 39 $ 261 $ 387 $ 573 Realized losses - - (24 ) (15 ) Net realized losses $ 39 $ 261 $ 363 $ 558 Securities with carrying values of $222.9 million and $224.3 million were pledged to secure public funds on deposit, repurchase agreements and as collateral for borrowings at September 30, 2017 and December 31, 2016, respectively. Except for U.S. federal agency obligations, no investment in a single issuer exceeded 10% of consolidated stockholders’ equity. |
Loans and Allowance for Loan Lo
Loans and Allowance for Loan Losses | 9 Months Ended |
Sep. 30, 2017 | |
Receivables [Abstract] | |
Loans and Allowance for Loan Losses | 3. Loans and Allowance for Loan Losses Loans consisted of the following as of the dates indicated below: September 30, December 31, (Dollars in thousands) 2017 2016 One-to-four family residential real estate $ 136,829 $ 136,846 Construction and land 15,898 13,738 Commercial real estate 120,818 118,200 Commercial 50,944 54,506 Agriculture 84,101 78,324 Municipal 3,479 3,884 Consumer 21,985 20,271 Total gross loans 434,054 425,769 Net deferred loan costs and loans in process (236 ) 36 Allowance for loan losses (5,379 ) (5,344 ) Loans, net $ 428,439 $ 420,461 Percent of total One-to-four family residential real estate 31.5 % 32.1 % Construction and land 3.7 % 3.2 % Commercial real estate 27.8 % 27.8 % Commercial loans 11.7 % 12.8 % Agriculture loans 19.4 % 18.4 % Municipal loans 0.8 % 0.9 % Consumer loans 5.1 % 4.8 % Total gross loans 100.0 % 100.0 % The following tables provide information on the Company’s activity in the allowance for loan losses by loan class: (Dollars in thousands) Three and nine months ended September 30, 2017 One-to-four family residential real estate Construction and land Commercial real estate Commercial Agriculture Municipal Consumer Total Allowance for loan losses: Balance at July 1, 2017 $ 499 $ 70 $ 1,709 $ 1,081 $ 1,772 $ 10 $ 185 $ 5,326 Charge-offs - - - - - - (84 ) (84 ) Recoveries 1 - - 10 - 14 12 37 Provision for loan losses - 33 11 (82 ) 87 (15 ) 66 100 Balance at September 30, 2017 500 103 1,720 1,009 1,859 9 179 5,379 Balance at January 1, 2017 $ 504 $ 53 $ 1,777 $ 1,119 $ 1,684 $ 12 $ 195 $ 5,344 Charge-offs (19 ) - (61 ) - - - (249 ) (329 ) Recoveries 9 - - 19 1 14 71 114 Provision for loan losses 6 50 4 (129 ) 174 (17 ) 162 250 Balance at September 30, 2017 500 103 1,720 1,009 1,859 9 179 5,379 (Dollars in thousands) Three and nine months ended September 30, 2016 One-to-four family residential real estate Construction and land Commercial real estate Commercial Agriculture Municipal Consumer Total Allowance for loan losses: Balance at July 1, 2016 $ 584 $ 89 $ 1,776 $ 1,393 $ 1,600 $ 23 $ 187 $ 5,652 Charge-offs (14 ) - - - (215 ) - (89 ) (318 ) Recoveries 3 - - 9 - - 11 23 Provision for loan losses 36 (7 ) (40 ) (28 ) 88 - 101 150 Balance at September 30, 2016 609 82 1,736 1,374 1,473 23 210 5,507 Balance at January 1, 2016 $ 925 $ 77 $ 1,740 $ 1,530 $ 1,428 $ 23 $ 199 $ 5,922 Charge-offs (14 ) - - (306 ) (298 ) - (374 ) (992 ) Recoveries 8 - - 29 - 6 34 77 Provision for loan losses (310 ) 5 (4 ) 121 343 (6 ) 351 500 Balance at September 30, 2016 609 82 1,736 1,374 1,473 23 210 5,507 12 The following tables provide information on the Company’s activity in the allowance for loan losses by loan class and allowance methodology: (Dollars in thousands) As of September 30, 2017 One-to-four family residential real estate Construction and land Commercial real estate Commercial Agriculture Municipal Consumer Total Allowance for loan losses: Individually evaluated for loss 15 36 53 35 111 - - 250 Collectively evaluated for loss 485 67 1,667 974 1,748 9 179 5,129 Total 500 103 1,720 1,009 1,859 9 179 5,379 Loan balances: Individually evaluated for loss 531 2,083 3,999 1,579 883 140 44 9,259 Collectively evaluated for loss 136,298 13,815 116,819 49,365 83,218 3,339 21,941 424,795 Total $ 136,829 $ 15,898 $ 120,818 $ 50,944 $ 84,101 $ 3,479 $ 21,985 $ 434,054 (Dollars in thousands) As of December 31, 2016 One-to-four family residential real estate Construction and land Commercial 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’s impaired loans increased from $6.7 million at December 31, 2016 to $9.3 million at September 30, 2017. The difference between the unpaid contractual principal and the impaired loan balance is a result of charge-offs recorded against impaired loans. The difference in the Company’s non-accrual loan balances and impaired loan balances at September 30, 2017 and December 31, 2016, was related to troubled debt restructurings (“TDR”) that are current and accruing interest, but still classified as impaired. Interest income recognized on a cash basis was immaterial during the three and nine month periods ended September 30, 2017 and 2016. The following tables present information on impaired loans: (Dollars in thousands) As of September 30, 2017 Unpaid contractual principal Impaired loan balance Impaired loans without an allowance Impaired loans with an allowance Related allowance recorded Year-to-date average loan balance Year-to-date interest income recognized One-to-four family residential real estate $ 531 $ 531 $ 496 $ 35 $ 15 $ 552 $ 6 Construction and land 3,818 2,083 1,885 198 36 2,030 49 Commercial real estate 3,999 3,999 3,939 60 53 4,017 368 Commercial 1,579 1,579 1,372 207 35 1,660 - Agriculture 1,098 883 486 397 111 992 7 Municipal 140 140 140 - - 209 4 Consumer 44 44 44 - - 47 - Total impaired loans $ 11,209 $ 9,259 $ 8,362 $ 897 $ 250 $ 9,507 $ 434 (Dollars in thousands) As of December 31, 2016 Unpaid contractual principal Impaired loan balance Impaired loans without an allowance Impaired loans with an allowance Related allowance recorded Year-to-date average loan balance Year-to-date interest income 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 September 30, 2017 and December 31, 2016. The following tables present information on the Company’s past due and non-accrual loans by loan class: (Dollars in thousands) As of September 30, 2017 30-59 days delinquent and accruing 60-89 days delinquent and accruing 90 days or more delinquent and accruing Total past due loans accruing Non-accrual loans Total past due and non-accrual loans Total loans not past due One-to-four family residential real estate $ 1,163 $ 253 $ - $ 1,416 $ 333 $ 1,749 $ 135,080 Construction and land 86 346 - 432 786 1,218 14,680 Commercial real estate 210 - - 210 1,864 2,074 118,744 Commercial 50 - - 50 1,579 1,629 49,315 Agriculture 588 90 - 678 883 1,561 82,540 Municipal - - - - - - 3,479 Consumer 122 5 - 127 44 171 21,814 Total $ 2,219 $ 694 $ - $ 2,913 $ 5,489 $ 8,402 $ 425,652 Percent of gross loans 0.51 % 0.16 % 0.00 % 0.67 % 1.26 % 1.94 % 98.06 % (Dollars in thousands) As of December 31, 2016 30-59 days delinquent and accruing 60-89 days delinquent and accruing 90 days or more delinquent and accruing Total past due loans accruing Non-accrual loans Total past due and non-accrual loans Total 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 nine months ended September 30, 2017 and 2016 would have increased interest income by $79,000 and $43,000, respectively. No interest income related to non-accrual loans was included in interest income for the nine months ended September 30, 2017 and 2016. The Company also categorizes loans into risk categories based on relevant information about the ability of the borrowers to service their debt such as current financial information, historical payment experience, credit documentation, public information and current economic trends, among other factors. The Company analyzes loans individually by classifying the loans as to credit risk. This analysis is performed on a quarterly basis. Non-classified loans generally include those loans that are expected to be repaid in accordance with contractual loan terms. Classified loans are those that are assigned a special mention, substandard or doubtful risk rating using the following definitions: Special Mention: Loans are currently protected by the current net worth and paying capacity of the obligor or of the collateral pledged but such protection is potentially weak. These loans constitute an undue and unwarranted credit risk, but not to the point of justifying a classification of substandard. The credit risk may be relatively minor, yet constitutes an unwarranted risk in light of the circumstances surrounding a specific asset. Substandard: Loans are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged. Loans have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. Loans are characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected. Doubtful: Loans classified doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions and values, highly questionable and improbable. The following table provides information on the Company’s risk categories by loan class: (Dollars in thousands) As of September 30, 2017 As of December 31, 2016 Nonclassified Classified Nonclassified Classified One-to-four family residential real estate $ 136,064 $ 765 $ 135,640 $ 1,206 Construction and land 15,112 786 13,138 600 Commercial real estate 115,000 5,818 111,641 6,559 Commercial 47,685 3,259 51,080 3,426 Agriculture 79,430 4,671 73,564 4,760 Municipal 3,479 - 3,884 - Consumer 21,932 53 20,181 90 Total $ 418,702 $ 15,352 $ 409,128 $ 16,641 At September 30, 2017, the Company had 12 loan relationships consisting of 20 outstanding loans that were classified as TDRs. During the third quarter of 2017, the Company classified one agriculture loan totaling $11,000 as a TDR after refinancing an existing loan to a loan relationship that was classified as a TDR in 2016. The Company also classified a one-to-four family residential real estate totaling $25,000 as a TDR after modifying the terms per a bankruptcy judgement. During the second quarter of 2017, the Company classified two agriculture loans totaling $87,000 as TDRs after renewing loans to an existing loan relationship that was classified as a TDR in 2016. During the first quarter of 2017, the Company classified an $11,000 commercial real estate loan as a TDR after extending the maturity of the loan and classified as a TDR a $15,000 agriculture loan extended to an existing loan relationship that was classified as a TDR in 2016. As of September 30, 2017, no impairments were recorded against the principal balances of loans classified as TDRs during 2017. Since the loans were adequately secured no charge-offs were recorded against the principal balances of loans classified as TDRs during 2017. During the third quarter of 2016, the Company classified a $302,000 agriculture loan relationship consisting of three loans as a TDR after extending the maturities of the loans. The collateral securing the loans was deemed to be insufficient, resulting in a charge-off of $215,000. During the second quarter of 2016, the Company classified two loans as TDRs including an $8,000 commercial loan after modifying the payments to interest only and a $188,000 one-to-four family residential real estate loan after agreeing to a loan modification which adjusted the payment schedule. No loans were classified as TDR in the first quarter of 2016. As of September 30, 2016, an impairment of $2,000 was recorded against loans classified as TDRs. The Company recorded charge-offs of $215,000 against TDRs during the three and nine months ended September 30, 2016. 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 September 30, 2017 and 2016. At September 30, 2017, there was a commitment of $32,000 to lend additional funds on one construction and land loan classified as a TDR. The Company did not record any charge-offs against loans classified as TDRs in the first nine months of 2017 or 2016. A credit provision for loan losses of $30,000 related to TDRs was recorded in the nine months ended September 30, 2017 compared to no provision in the same period of 2016. The Company allocated $50,000 and $80,000 of the allowance for loan losses against loans classified as TDRs at September 30, 2017 and December 31, 2016, respectively. The following table presents information on loans that are classified as TDRs: (Dollars in thousands) As of September 30, 2017 As of December 31, 2016 Number of loans Non-accrual balance Accruing balance Number of loans Non-accrual balance Accruing balance One-to-four family residential real estate 2 $ - $ 198 2 $ - $ 185 Construction and land 4 578 1,297 4 588 1,338 Commercial real estate 4 60 2,135 3 64 2,145 Commercial - - - 2 - 13 Agriculture 8 361 - 4 268 44 Municipal 2 - 140 2 - 258 Total troubled debt restructurings 20 $ 999 $ 3,770 17 $ 920 $ 3,983 |
Goodwill and Other Intangible A
Goodwill and Other Intangible Assets | 9 Months Ended |
Sep. 30, 2017 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Other Intangible Assets | 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 nine 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. A summary of the other intangible assets that continue to be subject to amortization is as follows: (Dollars in thousands) As of September 30, 2017 Gross carrying amount Accumulated amortization Net carrying amount Core deposit intangible assets $ 2,067 $ (1,324 ) $ 743 Lease intangible asset 350 (177 ) 173 Mortgage servicing rights 6,169 (3,343 ) 2,826 Total other intangible assets $ 8,586 $ (4,844 ) $ 3,742 (Dollars in thousands) As of December 31, 2016 Gross carrying amount Accumulated amortization Net carrying 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 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: Amortization (Dollars in thousands) expense Remainder of 2017 $ 68 2018 252 2019 214 2020 177 2021 121 Thereafter 84 Total $ 916 Mortgage loans serviced for others are not reported as assets. The following table provides information on the principal balances of mortgage loans serviced for others: September 30, December 31, (Dollars in thousands) 2017 2016 FHLMC $ 511,517 $ 483,356 FHLB 10,002 11,393 Total $ 521,519 $ 494,749 Custodial escrow balances maintained in connection with serviced loans were $5.0 million and $4.1 million at September 30, 2017 and December 31, 2016, respectively. Gross service fee income related to such loans was $330,000 and $308,000 for the three months ended September 30, 2017 and 2016, respectively, and is included in fees and service charges in the consolidated statements of earnings. Gross service fee income related to such loans was $969,000 and $908,000 for the nine months ended September 30, 2017 and 2016, respectively. Activity for mortgage servicing rights and the related valuation allowance follows: Three months ended September 30, Nine months ended September 30, (Dollars in thousands) 2017 2016 2017 2016 Mortgage servicing rights: Balance at beginning of period $ 2,813 $ 2,851 $ 2,849 $ 2,840 Additions 260 268 702 780 Amortization (247 ) (291 ) (725 ) (792 ) Balance at end of period $ 2,826 $ 2,828 $ 2,826 $ 2,828 The fair value of mortgage servicing rights was $5.4 million and $5.1 million at September 30, 2017 and December 31, 2016, respectively. Fair value at September 30, 2017 was determined using discount rates ranging from 9.50% to 9.51%; prepayment speeds averaged 9.59% with a range of 0% to 33.92%, depending on the stratification of the specific mortgage servicing right; and a weighted average default rate of 2.23%. Fair value at December 31, 2016 was determined using discount rates ranging from 9.50% to 9.51%; prepayment speeds averaged 8.91% with a range of 4.86% to 32.79%, depending on the stratification of the specific mortgage servicing right; and a weighted average default rate of 2.26%. The Company had a mortgage repurchase reserve of $235,000 and $301,000 at September 30, 2017 and December 31, 2016 respectively, which represents the Company’s best estimate of probable losses that the Company will incur related to the repurchase of one-to-four family residential real estate loans previously sold or to reimburse investors for credit losses incurred on loans previously sold where a breach of the contractual representations and warranties occurred. The Company charged a $66,000 loss against the reserve during the first nine months of 2017. The Company did not have any recoveries against the mortgage repurchase reserve in the first nine months of 2017. The Company had no losses and recovered $10,000 of losses against the mortgage repurchase reserve during the nine months ended September 30, 2016. As of September 30, 2017, the Company did not have any outstanding mortgage repurchase requests. |
Earnings (Loss) Per Share
Earnings (Loss) Per Share | 9 Months Ended |
Sep. 30, 2017 | |
Earnings (loss) per share: | |
Earnings (Loss) Per Share | 5. Earnings (Loss) 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 shares used in the calculation of basic and diluted earnings per share are shown below: Three months ended Nine months ended (Dollars in thousands, except per share amounts) September 30 September 30 2017 2016 2017 2016 Net (loss) earnings(1) $ (2,661 ) $ 2,156 $ 1,927 $ 6,875 Weighted average common shares outstanding - basic (2) 3,872,829 3,827,899 3,871,075 3,785,784 Assumed exercise of stock options (1)(2) - 72,623 74,134 70,486 Weighted average common shares outstanding - diluted (1)(2) 3,872,829 3,900,522 3,945,209 3,856,270 Net (loss) earnings per share (1)(2): Basic $ (0.69 ) $ 0.56 $ 0.50 $ 1.82 Diluted $ (0.69 ) $ 0.55 $ 0.49 $ 1.78 (1) Net (loss) earnings, earnings per share, and assumed exercise of stock options for the periods ended September 30, 2016 have been recast to reflect the early adoption of ASU 2016-09. (2) Share and per share values for the periods ended September 30, 2016 have been adjusted to give effect to the 5% stock dividend paid during December 2016. The diluted earnings per share computations for the three and nine months ended September 30, 2017 excluded 180,014 and 21,152, respectively, unexercised stock options because their inclusion would have been anti-dilutive during such periods. The diluted earnings per share computations for the three and nine months ended September 30, 2016 include all unexercised stock options because no stock options were anti-dilutive during such periods. |
Repurchase Agreements
Repurchase Agreements | 9 Months Ended |
Sep. 30, 2017 | |
Banking and Thrift [Abstract] | |
Repurchase Agreements | 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. The following is a summary of the balances of and collateral for the Company’s repurchase agreements: As of September 30, 2017 Overnight and Greater Continuous Up to 30 days 30-90 days than 90 days Total Repurchase agreements: U.S. federal agency obligations $ 5,391 $ - $ - $ - $ 5,391 Agency mortgage-backed securities 6,096 - - - 6,096 Total $ 11,487 $ - $ - $ - $ 11,487 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 $11.5 million at September 30, 2017, and $12.5 million at December 31, 2016, which were secured by $18.2 million and $15.7 million of the Company’s investment portfolio at the same dates, respectively. 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 | 9 Months Ended |
Sep. 30, 2017 | |
Fair Value Disclosures [Abstract] | |
Fair Value of Financial Instruments and Fair Value Measurements | 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. Fair value estimates of the Company’s financial instruments as of September 30, 2017 and December 31, 2016, including methods and assumptions utilized, are set forth below: (Dollars in thousands) As of September 30, 2017 Carrying amount Level 1 Level 2 Level 3 Total Financial assets: Cash and cash equivalents $ 18,772 $ 18,772 $ - $ - $ 18,772 Investment securities available-for-sale 389,388 5,337 384,051 - 389,388 Bank stocks, at cost 5,384 n/a n/a n/a n/a Loans, net 428,439 - - 426,935 426,935 Loans held for sale, net 8,583 - 8,583 - 8,583 Derivative financial instruments 583 - 583 - 583 Accrued interest receivable 4,406 16 2,034 2,356 4,406 Financial liabilities: Non-maturity deposits $ (605,759 ) $ (605,759 ) $ - $ - (605,759 ) Time deposits (127,251 ) - (125,676 ) - (125,676 ) FHLB borrowings (64,400 ) - (64,646 ) - (64,646 ) Subordinated debentures (21,434 ) - (19,156 ) - (19,156 ) Other borrowings (11,487 ) - (11,487 ) - (11,487 ) Derivative financial instruments (32 ) - (32 ) - (32 ) Accrued interest payable (270 ) - (270 ) - (270 ) 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 sale 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 FRB stock. The estimated fair value of the Company’s loan portfolio is based on the segregation of loans by collateral type, interest terms, and maturities. The fair value is estimated based on discounting scheduled and estimated cash flows through maturity using an appropriate risk-adjusted yield curve to approximate current interest rates for each category. No adjustment was made to the interest rates for changes in credit risk of performing loans where there are no known credit concerns. Management segregates loans in appropriate risk categories. Management believes that the risk factor embedded in the interest rates along with the allowance for loan losses applicable to the performing loan portfolio results in a fair valuation of such loans. The fair values of impaired loans are generally based on market prices for similar assets determined through independent appraisals or discounted values of independent appraisals and brokers’ opinions of value. This method of estimating fair value does not incorporate the exit-price concept of fair value prescribed by ASC Topic 820 and is classified as Level 3. Mortgage loans originated and intended for sale in the secondary market are carried at the estimated fair value, determined on an aggregate basis. The mortgage loan valuations are based on quoted secondary market prices for similar loans and are classified as Level 2. The carrying amounts of accrued interest receivable and payable are considered to approximate fair value. The estimated fair value of deposits with no stated maturity, such as non-interest-bearing demand deposits, savings, money market accounts, and checking accounts, is equal to the amount payable on demand. The fair value of interest-bearing time deposits is based on the discounted value of contractual cash flows of such deposits. The discount rate is tied to the FHLB yield curve plus an appropriate servicing spread. Fair value measurements based on discounted cash flows are classified as Level 2. These fair values do not incorporate the value of core deposit intangibles which may be associated with the deposit base. The fair value of advances from the FHLB, subordinated debentures, and other borrowings is estimated using current yield curves for similar borrowings adjusted for the Company’s current credit spread and classified as Level 2. The Company’s derivative financial instruments consist of interest rate lock commitments and forward commitments for the future delivery of these mortgage loans. 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 of these fees is not material. Transfers The Company did not transfer any assets or liabilities among levels during the nine months ended September 30, 2017 or during the year ended December 31, 2016. Valuation Methods for Instruments Measured at Fair Value on a Recurring Basis The following table represents the Company’s financial instruments that are measured at fair value on a recurring basis at September 30, 2017 and December 31, 2016, allocated to the appropriate fair value hierarchy: (Dollars in thousands) As of September 30, 2017 Fair value hierarchy Total Level 1 Level 2 Level 3 Assets: Available-for-sale investment securities: U. S. treasury securities $ 5,014 $ 5,014 $ - $ - U. S. federal agency obligations 20,343 - 20,343 - Municipal obligations, tax exempt 180,571 - 180,571 - Municipal obligations, taxable 60,154 - 60,154 - Agency mortgage-backed securities 113,759 - 113,759 - Certificates of deposit 9,224 - 9,224 - Common stocks 323 323 - - Loans held for sale 8,583 - 8,583 - Derivative financial instruments 583 - 583 - Liabililty: Derivative financial instruments (32 ) - (32 ) - (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 - Certificates of deposit 9,700 - 9,700 - Common stocks 1,108 1,108 - - 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. The aggregate fair value, contractual balance (including accrued interest), and gains on loans held for sale were as follows: As of As of September 30, December 31, (Dollars in thousands) 2017 2016 Aggregate fair value $ 8,583 $ 5,517 Contractual balance 8,463 5,480 Gain $ 120 $ 37 The total amount of gains from changes in fair value of loans held for sale included in earnings were as follows: Three months ended Nine months ended September 30, September 30, (Dollars in thousands) 2017 2016 2017 2016 Interest income $ 73 $ 87 $ 197 $ 297 Change in fair value (86 ) (126 ) 83 (110 ) Total change in fair value $ (13 ) $ (39 ) $ 280 $ 187 Valuation Methods for Instruments Measured at Fair Value on a Non-recurring Basis The Company does not value its loan portfolio at fair value. Collateral-dependent impaired loans are generally carried at the lower of cost or fair value of the collateral, less estimated selling costs. Collateral values are determined based on appraisals performed by qualified licensed appraisers hired by the Company and then further adjusted if warranted based on relevant facts and circumstances. The appraisals may utilize a single valuation approach or a combination of approaches including the comparable sales and income approach. Adjustments are routinely made in the appraisal process by the appraisers to adjust for differences between the comparable sales and income data available. Such adjustments are typically significant and result in a Level 3 classification of the inputs for determining fair value. Impaired loans are reviewed and evaluated at least quarterly for additional impairment and adjusted accordingly, based on the same factors identified above. The carrying value of the Company’s impaired loans was $9.3 million and $6.7 million, with an allocated allowance of $250,000 and $274,000, at September 30, 2017 and December 31, 2016, respectively. The following table represents the Company’s financial instruments that are measured at fair value on a non-recurring basis as of September 30, 2017 and December 31, 2016 allocated to the appropriate fair value hierarchy: (Dollars in thousands) As of September 30, 2017 Total Fair value hierarchy gains/ Total Level 1 Level 2 Level 3 (losses) Assets: Impaired loans: One-to-four family residential real estate $ 20 $ - $ - $ 20 $ (15 ) Construction and land 162 - - 162 (36 ) Commercial real estate 7 - - 7 14 Commercial 172 - - 172 52 Agriculture 286 - - 286 (38 ) Real estate owned: Commercial real estate 149 - - 149 (26 ) As of December 31, 2016 Total Fair value hierarchy (losses)/ Total Level 1 Level 2 Level 3 gains Assets: Impaired loans: Commercial real estate $ 219 $ - $ - $ 219 $ (81 ) Commercial 222 - - 222 (87 ) Agriculture 645 - - 645 (89 ) Real estate owned: One-to-four family residential real estate 142 - - 142 (34 ) The following table presents quantitative information about Level 3 fair value measurements for impaired loans measured at fair value on a non-recurring basis as of September 30, 2017 and December 31, 2016. (Dollars in thousands) Fair value Valuation technique Unobservable inputs Range As of September 30, 2017 Impaired loans: One-to-four family residential real estate $ 20 Sales comparison Adjustment to appraised value 7%-40 % Construction and land 162 Sales comparison Adjustment to appraised value 6%-35 % Commercial real estate 7 Sales comparison Adjustment to appraised value 5%-40 % Commercial 172 Sales comparison Adjustment to comparable sales 15%-20 % Agriculture 286 Sales comparison Adjustment to appraised value 10%-25 % Real estate owned: Commercial real estate 149 Sales comparison Adjustment to comparable sales 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 appraised value 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 | 9 Months Ended |
Sep. 30, 2017 | |
Banking and Thrift [Abstract] | |
Regulatory Capital Requirements | 8. Regulatory Capital Requirements Banks and bank holding companies are subject to regulatory capital requirements administered by federal banking agencies. Capital adequacy guidelines and, additionally for banks, prompt corrective action regulations involve quantitative measures of assets, liabilities, and certain off-balance-sheet items calculated under regulatory accounting practices. Capital amounts and classifications are also subject to qualitative judgments by regulators. Failure to meet capital requirements can initiate regulatory action. Management believes as of September 30, 2017, the Company and its subsidiary, Landmark National Bank (“the Bank”) meet all capital adequacy requirements to which they were subject at that time. Prompt corrective action regulations provide five classifications: well capitalized, adequately capitalized, undercapitalized, significantly undercapitalized, and critically undercapitalized, although these terms are not used to represent overall financial condition. If adequately capitalized, regulatory approval is required to accept brokered deposits. If undercapitalized, capital distributions are limited, as is asset growth and expansion, and capital restoration plans are required. 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 billion). The Basel III Rules require a common equity Tier 1 capital to risk-weighted assets minimum ratio of 4.5%, a Tier 1 capital to risk-weighted assets minimum ratio of 6.0%, a Total Capital to risk-weighted assets minimum ratio of 8.0%, and a Tier 1 leverage minimum ratio of 4.0%. A capital conservation buffer, comprised of common equity Tier 1 capital, is also established above the regulatory minimum capital requirements. This capital conservation buffer began on January 1, 2016 at 0.625% of risk-weighted assets, was 1.25% effective on January 1, 2017, and will further increase each subsequent year by an additional 0.625% until reaching its final level of 2.5% on January 1, 2019. The capital conservation buffer increases the common equity Tier 1 capital ratio, Tier 1 capital and total risk based capital ratios as of March 31 of each year. As of September 30, 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. The following is a comparison of the Company’s regulatory capital to minimum capital requirements at September 30, 2017 and December 31, 2016: (Dollars in thousands) For capital Actual adequacy purposes Amount Ratio Amount Ratio (1) As of September 30, 2017 Leverage $ 87,030 9.71 % $ 35,851 4.0 % Common Equity Tier 1 Capital 66,634 12.62 % 30,371 5.8 % Tier 1 Capital 87,030 16.48 % 38,294 7.3 % Total Risk Based Capital 92,622 17.54 % 48,858 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% for September 30, 2017 and 0.625% for December 31, 2016. The following is a comparison of the Bank’s regulatory capital to minimum capital requirements at September 30, 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 September 30, 2017 Leverage $ 85,800 9.58 % $ 35,821 4.0 % $ 44,777 5.0 % Common Equity Tier 1 Capital 85,800 16.27 % 30,326 5.8 % 34,281 6.5 % Tier 1 Capital 85,800 16.27 % 38,237 7.3 % 42,192 8.0 % Total Risk Based Capital 91,319 17.31 % 48,785 9.3 % 52,740 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% for September 30, 2017 and 0.625% for December 31, 2016. |
Impact of Recent Accounting Pro
Impact of Recent Accounting Pronouncements | 9 Months Ended |
Sep. 30, 2017 | |
Accounting Changes and Error Corrections [Abstract] | |
Impact of Recent Accounting Pronouncements | 9. Impact of Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606). The main provisions of the update require the identification of performance obligations within a contract and require the recognition of revenue based on a stand-alone allocation of contract revenue to each performance obligation. Performance obligations may be satisfied and revenue recognized over a period of time if: 1) the customer simultaneously receives and consumes the benefits provided by the entity’s performance as the entity performs, or 2) the entity’s performance creates or enhances an asset that the customer controls as the asset is created or enhanced, or 3) the entity’s performance does not create an asset with an alternative use to the entity, and the entity has an enforceable right to payment for performance completed to date. For public entities the amendments of the update are effective for annual reporting periods beginning after December 15, 2017 including interim periods within that reporting period. The Company’s revenue is primarily comprised of net interest income on financial asset and liabilities, which are excluded from the scope of ASU 2014-09. Management has concluded that the adoption of ASU 2014-09 will not have a material impact on the Company’s financial position, results of operations or cash flows. The most significant impact of ASU 2014-09 will be additional disclosures required for non-interest income. 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. Additionally, the disclosure of fair value of the loan portfolio will be presented using an exit price method instead of the current discounted cash flow. 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 during 2016 as a result of recognized excess tax benefits from the exercise of stock options. The presentation of excess tax benefits from the exercise of stock options have been presented on a prospective basis and are included in changes in accrued interest and other assets in the operating activities section of the statement of cash flows. The Company’s excess tax benefits from the exercise of stock options totaled $24,000 in the first nine months of 2017 and $259,000 in the first nine months of 2016. 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; however, the impact will not be material to interest income on investment securities. |
Deposit-Related Loss
Deposit-Related Loss | 9 Months Ended |
Sep. 30, 2017 | |
Deposit-related Loss | |
Deposit-Related Loss | 10. Deposit-Related Loss On August 8, 2017, the Company was made aware that checks deposited by our customer from a third party were being returned by another financial institution due to uncollected funds related to the third party. This caused a $10.3 million overdraft balance. Since August 8, 2017, the Company’s collection efforts have provided $2.2 million in funds to cover a portion of the overdraft, resulting in an $8.1 million pre-tax loss which is included in other non-interest expense in the consolidated statement of earnings. An investigation of the situation and the potential recovery of losses are ongoing including whether or not existing insurance policies will cover any of the loss. The Company intends to protect all of its rights pursuant to this matter and seek all available legal and equitable remedies, however, future recoveries are uncertain. The recovery process is expected to require an extended period of time to resolve, and the Company likely incur further legal expenses in pursuing our recovery efforts. |
Investments (Tables)
Investments (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Investments, Debt and Equity Securities [Abstract] | |
Schedule of Available-for-sale Securities | A summary of investment securities available-for-sale is as follows: (Dollars in thousands) As of September 30, 2017 Gross Gross Amortized unrealized unrealized Estimated cost gains losses fair value U. S. treasury securities $ 4,997 $ 17 $ - $ 5,014 U. S. federal agency obligations 20,354 29 (40 ) 20,343 Municipal obligations, tax exempt 179,116 2,236 (781 ) 180,571 Municipal obligations, taxable 59,610 636 (92 ) 60,154 Agency mortgage-backed securities 114,412 197 (850 ) 113,759 Certificates of deposit 9,224 - - 9,224 Common stocks 162 161 - 323 Total $ 387,875 $ 3,276 $ (1,763 ) $ 389,388 (Dollars in thousands) As of December 31, 2016 Gross Gross Amortized unrealized unrealized Estimated 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 |
Schedule of Available for Sale Securities Continuous Unrealized Loss Position Fair Value | (Dollars in thousands) As of September 30, 2017 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 10 $13,812 $(35) $995 $(5) $14,807 $(40) Municipal obligations, tax exempt 116 17,851 (141 ) 32,217 (640 ) 50,068 (781 ) Municipal obligations, taxable 43 14,117 (70 ) 1,723 (22 ) 15,840 (92 ) Agency mortgage-backed securities 60 78,000 (666 ) 7,640 (184 ) 85,640 (850 ) Total 229 $ 123,780 $ (912 ) $ 42,575 $ (851 ) $ 166,355 $ (1,763 ) (Dollars in thousands) As of December 31, 2016 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 ) |
Schedule of Investments Classified by Contractual Maturity Date | Amortized Estimated (Dollars in thousands) cost fair value Due in less than one year $ 28,765 $ 28,794 Due after one year but within five years 176,397 176,366 Due after five years but within ten years 97,814 98,668 Due after ten years 84,737 85,237 Common stocks 162 323 Total $ 387,875 $ 389,388 |
Schedule of Realized Gain (Loss) | (Dollars in thousands) Three months ended September 30, Nine months ended September 30, 2017 2016 2017 2016 Sales proceeds $ 54 $ 708 $ 13,513 $ 14,326 Realized gains $ 39 $ 261 $ 387 $ 573 Realized losses - - (24 ) (15 ) Net realized losses $ 39 $ 261 $ 363 $ 558 |
Loans and Allowance for Loan 20
Loans and Allowance for Loan Losses (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Receivables [Abstract] | |
Schedule of Accounts, Notes, Loans and Financing Receivable | Loans consisted of the following as of the dates indicated below: September 30, December 31, (Dollars in thousands) 2017 2016 One-to-four family residential real estate $ 136,829 $ 136,846 Construction and land 15,898 13,738 Commercial real estate 120,818 118,200 Commercial 50,944 54,506 Agriculture 84,101 78,324 Municipal 3,479 3,884 Consumer 21,985 20,271 Total gross loans 434,054 425,769 Net deferred loan costs and loans in process (236 ) 36 Allowance for loan losses (5,379 ) (5,344 ) Loans, net $ 428,439 $ 420,461 Percent of total One-to-four family residential real estate 31.5 % 32.1 % Construction and land 3.7 % 3.2 % Commercial real estate 27.8 % 27.8 % Commercial loans 11.7 % 12.8 % Agriculture loans 19.4 % 18.4 % Municipal loans 0.8 % 0.9 % Consumer loans 5.1 % 4.8 % Total gross loans 100.0 % 100.0 % |
Schedule of Allowance for Credit Losses On Financing Receivables | The following tables provide information on the Company’s activity in the allowance for loan losses by loan class: (Dollars in thousands) Three and nine months ended September 30, 2017 One-to-four family residential real estate Construction and land Commercial real estate Commercial Agriculture Municipal Consumer Total Allowance for loan losses: Balance at July 1, 2017 $ 499 $ 70 $ 1,709 $ 1,081 $ 1,772 $ 10 $ 185 $ 5,326 Charge-offs - - - - - - (84 ) (84 ) Recoveries 1 - - 10 - 14 12 37 Provision for loan losses - 33 11 (82 ) 87 (15 ) 66 100 Balance at September 30, 2017 500 103 1,720 1,009 1,859 9 179 5,379 Balance at January 1, 2017 $ 504 $ 53 $ 1,777 $ 1,119 $ 1,684 $ 12 $ 195 $ 5,344 Charge-offs (19 ) - (61 ) - - - (249 ) (329 ) Recoveries 9 - - 19 1 14 71 114 Provision for loan losses 6 50 4 (129 ) 174 (17 ) 162 250 Balance at September 30, 2017 500 103 1,720 1,009 1,859 9 179 5,379 (Dollars in thousands) Three and nine months ended September 30, 2016 One-to-four family residential real estate Construction and land Commercial real estate Commercial Agriculture Municipal Consumer Total Allowance for loan losses: Balance at July 1, 2016 $ 584 $ 89 $ 1,776 $ 1,393 $ 1,600 $ 23 $ 187 $ 5,652 Charge-offs (14 ) - - - (215 ) - (89 ) (318 ) Recoveries 3 - - 9 - - 11 23 Provision for loan losses 36 (7 ) (40 ) (28 ) 88 - 101 150 Balance at September 30, 2016 609 82 1,736 1,374 1,473 23 210 5,507 Balance at January 1, 2016 $ 925 $ 77 $ 1,740 $ 1,530 $ 1,428 $ 23 $ 199 $ 5,922 Charge-offs (14 ) - - (306 ) (298 ) - (374 ) (992 ) Recoveries 8 - - 29 - 6 34 77 Provision for loan losses (310 ) 5 (4 ) 121 343 (6 ) 351 500 Balance at September 30, 2016 609 82 1,736 1,374 1,473 23 210 5,507 The following tables provide information on the Company’s activity in the allowance for loan losses by loan class and allowance methodology: (Dollars in thousands) As of September 30, 2017 One-to-four family residential real estate Construction and land Commercial real estate Commercial Agriculture Municipal Consumer Total Allowance for loan losses: Individually evaluated for loss 15 36 53 35 111 - - 250 Collectively evaluated for loss 485 67 1,667 974 1,748 9 179 5,129 Total 500 103 1,720 1,009 1,859 9 179 5,379 Loan balances: Individually evaluated for loss 531 2,083 3,999 1,579 883 140 44 9,259 Collectively evaluated for loss 136,298 13,815 116,819 49,365 83,218 3,339 21,941 424,795 Total $ 136,829 $ 15,898 $ 120,818 $ 50,944 $ 84,101 $ 3,479 $ 21,985 $ 434,054 (Dollars in thousands) As of December 31, 2016 One-to-four family residential real estate Construction and land Commercial 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 |
Schedule of Impaired Financing Receivables | The following tables present information on impaired loans: (Dollars in thousands) As of September 30, 2017 Unpaid contractual principal Impaired loan balance Impaired loans without an allowance Impaired loans with an allowance Related allowance recorded Year-to-date average loan balance Year-to-date interest income recognized One-to-four family residential real estate $ 531 $ 531 $ 496 $ 35 $ 15 $ 552 $ 6 Construction and land 3,818 2,083 1,885 198 36 2,030 49 Commercial real estate 3,999 3,999 3,939 60 53 4,017 368 Commercial 1,579 1,579 1,372 207 35 1,660 - Agriculture 1,098 883 486 397 111 992 7 Municipal 140 140 140 - - 209 4 Consumer 44 44 44 - - 47 - Total impaired loans $ 11,209 $ 9,259 $ 8,362 $ 897 $ 250 $ 9,507 $ 434 (Dollars in thousands) As of December 31, 2016 Unpaid contractual principal Impaired loan balance Impaired loans without an allowance Impaired loans with an allowance Related allowance recorded Year-to-date average loan balance Year-to-date interest income 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 |
Schedule of Past Due Financing Receivables | The following tables present information on the Company’s past due and non-accrual loans by loan class: (Dollars in thousands) As of September 30, 2017 30-59 days delinquent and accruing 60-89 days delinquent and accruing 90 days or more delinquent and accruing Total past due loans accruing Non-accrual loans Total past due and non-accrual loans Total loans not past due One-to-four family residential real estate $ 1,163 $ 253 $ - $ 1,416 $ 333 $ 1,749 $ 135,080 Construction and land 86 346 - 432 786 1,218 14,680 Commercial real estate 210 - - 210 1,864 2,074 118,744 Commercial 50 - - 50 1,579 1,629 49,315 Agriculture 588 90 - 678 883 1,561 82,540 Municipal - - - - - - 3,479 Consumer 122 5 - 127 44 171 21,814 Total $ 2,219 $ 694 $ - $ 2,913 $ 5,489 $ 8,402 $ 425,652 Percent of gross loans 0.51 % 0.16 % 0.00 % 0.67 % 1.26 % 1.94 % 98.06 % (Dollars in thousands) As of December 31, 2016 30-59 days delinquent and accruing 60-89 days delinquent and accruing 90 days or more delinquent and accruing Total past due loans accruing Non-accrual loans Total past due and non-accrual loans Total 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 % |
Schedule of Risk Categories by Loan Class | The following table provides information on the Company’s risk categories by loan class: (Dollars in thousands) As of September 30, 2017 As of December 31, 2016 Nonclassified Classified Nonclassified Classified One-to-four family residential real estate $ 136,064 $ 765 $ 135,640 $ 1,206 Construction and land 15,112 786 13,138 600 Commercial real estate 115,000 5,818 111,641 6,559 Commercial 47,685 3,259 51,080 3,426 Agriculture 79,430 4,671 73,564 4,760 Municipal 3,479 - 3,884 - Consumer 21,932 53 20,181 90 Total $ 418,702 $ 15,352 $ 409,128 $ 16,641 |
Schedule of Troubled Debt Restructurings On Financing Receivables | The following table presents information on loans that are classified as TDRs: (Dollars in thousands) As of September 30, 2017 As of December 31, 2016 Number of loans Non-accrual balance Accruing balance Number of loans Non-accrual balance Accruing balance One-to-four family residential real estate 2 $ - $ 198 2 $ - $ 185 Construction and land 4 578 1,297 4 588 1,338 Commercial real estate 4 60 2,135 3 64 2,145 Commercial - - - 2 - 13 Agriculture 8 361 - 4 268 44 Municipal 2 - 140 2 - 258 Total troubled debt restructurings 20 $ 999 $ 3,770 17 $ 920 $ 3,983 |
Goodwill and Other Intangible21
Goodwill and Other Intangible Assets (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Intangible Assets and Goodwill | A summary of the other intangible assets that continue to be subject to amortization is as follows: (Dollars in thousands) As of September 30, 2017 Gross carrying amount Accumulated amortization Net carrying amount Core deposit intangible assets $ 2,067 $ (1,324 ) $ 743 Lease intangible asset 350 (177 ) 173 Mortgage servicing rights 6,169 (3,343 ) 2,826 Total other intangible assets $ 8,586 $ (4,844 ) $ 3,742 (Dollars in thousands) As of December 31, 2016 Gross carrying amount Accumulated amortization Net carrying 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 | 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: Amortization (Dollars in thousands) expense Remainder of 2017 $ 68 2018 252 2019 214 2020 177 2021 121 Thereafter 84 Total $ 916 |
Schedule of Participating Mortgage Loans | The following table provides information on the principal balances of mortgage loans serviced for others: September 30, December 31, (Dollars in thousands) 2017 2016 FHLMC $ 511,517 $ 483,356 FHLB 10,002 11,393 Total $ 521,519 $ 494,749 |
Schedule of Servicing Asset at Amortized Cost | Activity for mortgage servicing rights and the related valuation allowance follows: Three months ended September 30, Nine months ended September 30, (Dollars in thousands) 2017 2016 2017 2016 Mortgage servicing rights: Balance at beginning of period $ 2,813 $ 2,851 $ 2,849 $ 2,840 Additions 260 268 702 780 Amortization (247 ) (291 ) (725 ) (792 ) Balance at end of period $ 2,826 $ 2,828 $ 2,826 $ 2,828 |
Earnings (Loss) Per Share (Tabl
Earnings (Loss) Per Share (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Earnings (loss) per share: | |
Schedule of Earnings Per Share, Basic and Diluted | The shares used in the calculation of basic and diluted earnings per share are shown below: Three months ended Nine months ended (Dollars in thousands, except per share amounts) September 30 September 30 2017 2016 2017 2016 Net (loss) earnings(1) $ (2,661 ) $ 2,156 $ 1,927 $ 6,875 Weighted average common shares outstanding - basic (2) 3,872,829 3,827,899 3,871,075 3,785,784 Assumed exercise of stock options (1)(2) - 72,623 74,134 70,486 Weighted average common shares outstanding - diluted (1)(2) 3,872,829 3,900,522 3,945,209 3,856,270 Net (loss) earnings per share (1)(2): Basic $ (0.69 ) $ 0.56 $ 0.50 $ 1.82 Diluted $ (0.69 ) $ 0.55 $ 0.49 $ 1.78 (1) Net (loss) earnings, earnings per share, and assumed exercise of stock options for the periods ended September 30, 2016 have been recast to reflect the early adoption of ASU 2016-09. (2) Share and per share values for the periods ended September 30, 2016 have been adjusted to give effect to the 5% stock dividend paid during December 2016. |
Repurchase Agreements (Tables)
Repurchase Agreements (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Banking and Thrift [Abstract] | |
Schedule of Repurchase Agreements | The following is a summary of the balances of and collateral for the Company’s repurchase agreements: As of September 30, 2017 Overnight and Greater Continuous Up to 30 days 30-90 days than 90 days Total Repurchase agreements: U.S. federal agency obligations $ 5,391 $ - $ - $ - $ 5,391 Agency mortgage-backed securities 6,096 - - - 6,096 Total $ 11,487 $ - $ - $ - $ 11,487 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 Instr24
Fair Value of Financial Instruments and Fair Value Measurements (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Fair Value Disclosures [Abstract] | |
Schedule of Fair Value, by Balance Sheet Grouping | Fair value estimates of the Company’s financial instruments as of September 30, 2017 and December 31, 2016, including methods and assumptions utilized, are set forth below: (Dollars in thousands) As of September 30, 2017 Carrying amount Level 1 Level 2 Level 3 Total Financial assets: Cash and cash equivalents $ 18,772 $ 18,772 $ - $ - $ 18,772 Investment securities available-for-sale 389,388 5,337 384,051 - 389,388 Bank stocks, at cost 5,384 n/a n/a n/a n/a Loans, net 428,439 - - 426,935 426,935 Loans held for sale, net 8,583 - 8,583 - 8,583 Derivative financial instruments 583 - 583 - 583 Accrued interest receivable 4,406 16 2,034 2,356 4,406 Financial liabilities: Non-maturity deposits $ (605,759 ) $ (605,759 ) $ - $ - (605,759 ) Time deposits (127,251 ) - (125,676 ) - (125,676 ) FHLB borrowings (64,400 ) - (64,646 ) - (64,646 ) Subordinated debentures (21,434 ) - (19,156 ) - (19,156 ) Other borrowings (11,487 ) - (11,487 ) - (11,487 ) Derivative financial instruments (32 ) - (32 ) - (32 ) Accrued interest payable (270 ) - (270 ) - (270 ) 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 sale 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 ) |
Schedule of Fair Value, Assets Measured On Recurring Basis | The following table represents the Company’s financial instruments that are measured at fair value on a recurring basis at September 30, 2017 and December 31, 2016, allocated to the appropriate fair value hierarchy: (Dollars in thousands) As of September 30, 2017 Fair value hierarchy Total Level 1 Level 2 Level 3 Assets: Available-for-sale investment securities: U. S. treasury securities $ 5,014 $ 5,014 $ - $ - U. S. federal agency obligations 20,343 - 20,343 - Municipal obligations, tax exempt 180,571 - 180,571 - Municipal obligations, taxable 60,154 - 60,154 - Agency mortgage-backed securities 113,759 - 113,759 - Certificates of deposit 9,224 - 9,224 - Common stocks 323 323 - - Loans held for sale 8,583 - 8,583 - Derivative financial instruments 583 - 583 - Liabililty: Derivative financial instruments (32 ) - (32 ) - (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 - Certificates of deposit 9,700 - 9,700 - Common stocks 1,108 1,108 - - 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 | The aggregate fair value, contractual balance (including accrued interest), and gains on loans held for sale were as follows: As of As of September 30, December 31, (Dollars in thousands) 2017 2016 Aggregate fair value $ 8,583 $ 5,517 Contractual balance 8,463 5,480 Gain $ 120 $ 37 |
Schedule of Gains and Losses from Changes in Fair Value of Loans Held for Sale | The total amount of gains from changes in fair value of loans held for sale included in earnings were as follows: Three months ended Nine months ended September 30, September 30, (Dollars in thousands) 2017 2016 2017 2016 Interest income $ 73 $ 87 $ 197 $ 297 Change in fair value (86 ) (126 ) 83 (110 ) Total change in fair value $ (13 ) $ (39 ) $ 280 $ 187 |
Schedule of Fair Value, Assets and Liabilities Measured On Nonrecurring Basis, Valuation Techniques | The following table represents the Company’s financial instruments that are measured at fair value on a non-recurring basis as of September 30, 2017 and December 31, 2016 allocated to the appropriate fair value hierarchy: (Dollars in thousands) As of September 30, 2017 Total Fair value hierarchy gains/ Total Level 1 Level 2 Level 3 (losses) Assets: Impaired loans: One-to-four family residential real estate $ 20 $ - $ - $ 20 $ (15 ) Construction and land 162 - - 162 (36 ) Commercial real estate 7 - - 7 14 Commercial 172 - - 172 52 Agriculture 286 - - 286 (38 ) Real estate owned: Commercial real estate 149 - - 149 (26 ) As of December 31, 2016 Total Fair value hierarchy (losses)/ Total Level 1 Level 2 Level 3 gains Assets: Impaired loans: Commercial real estate $ 219 $ - $ - $ 219 $ (81 ) Commercial 222 - - 222 (87 ) Agriculture 645 - - 645 (89 ) Real estate owned: One-to-four family residential real estate 142 - - 142 (34 ) |
Schedule of Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques | The following table presents quantitative information about Level 3 fair value measurements for impaired loans measured at fair value on a non-recurring basis as of September 30, 2017 and December 31, 2016. (Dollars in thousands) Fair value Valuation technique Unobservable inputs Range As of September 30, 2017 Impaired loans: One-to-four family residential real estate $ 20 Sales comparison Adjustment to appraised value 7%-40 % Construction and land 162 Sales comparison Adjustment to appraised value 6%-35 % Commercial real estate 7 Sales comparison Adjustment to appraised value 5%-40 % Commercial 172 Sales comparison Adjustment to comparable sales 15%-20 % Agriculture 286 Sales comparison Adjustment to appraised value 10%-25 % Real estate owned: Commercial real estate 149 Sales comparison Adjustment to comparable sales 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 appraised value 8%-80 % Real estate owned: One-to-four family residential real estate 142 Sales comparison Adjustment to appraised value 10 % |
Regulatory Capital Requiremen25
Regulatory Capital Requirements (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Banking and Thrift [Abstract] | |
Schedule of Compliance with Regulatory Capital Requirements for Bank Holding Companies | The following is a comparison of the Company’s regulatory capital to minimum capital requirements at September 30, 2017 and December 31, 2016: (Dollars in thousands) For capital Actual adequacy purposes Amount Ratio Amount Ratio (1) As of September 30, 2017 Leverage $ 87,030 9.71 % $ 35,851 4.0 % Common Equity Tier 1 Capital 66,634 12.62 % 30,371 5.8 % Tier 1 Capital 87,030 16.48 % 38,294 7.3 % Total Risk Based Capital 92,622 17.54 % 48,858 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% for September 30, 2017 and 0.625% for December 31, 2016. |
Schedule of Compliance with Regulatory Capital Requirements Under Banking Regulations | The following is a comparison of the Bank’s regulatory capital to minimum capital requirements at September 30, 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 September 30, 2017 Leverage $ 85,800 9.58 % $ 35,821 4.0 % $ 44,777 5.0 % Common Equity Tier 1 Capital 85,800 16.27 % 30,326 5.8 % 34,281 6.5 % Tier 1 Capital 85,800 16.27 % 38,237 7.3 % 42,192 8.0 % Total Risk Based Capital 91,319 17.31 % 48,785 9.3 % 52,740 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% for September 30, 2017 and 0.625% for December 31, 2016. |
Investments (Details Narrative)
Investments (Details Narrative) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Investments, Debt and Equity Securities [Abstract] | ||
Security Owned and Pledged as Collateral, Fair Value, Total | $ 222,900 | $ 224,300 |
Equity Method Investment, Ownership Percentage | 10.00% |
Investments - Schedule of Avail
Investments - Schedule of Available-for-sale Securities (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost | $ 387,875 | $ 387,733 |
Gross unrealized gains | 3,276 | 2,038 |
Gross unrealized losses | (1,763) | (4,208) |
Estimated fair value | 389,388 | 385,563 |
Common Stock [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost | 162 | 458 |
Gross unrealized gains | 161 | 650 |
Gross unrealized losses | ||
Estimated fair value | 323 | 1,108 |
US Treasury Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost | 4,997 | 6,005 |
Gross unrealized gains | 17 | 10 |
Gross unrealized losses | ||
Estimated fair value | 5,014 | 6,015 |
US Federal Agency Obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost | 20,354 | 27,140 |
Gross unrealized gains | 29 | 48 |
Gross unrealized losses | (40) | (49) |
Estimated fair value | 20,343 | 27,139 |
Municipal Obligations Tax Exempt [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost | 179,116 | 163,632 |
Gross unrealized gains | 2,236 | 696 |
Gross unrealized losses | (781) | (2,666) |
Estimated fair value | 180,571 | 161,662 |
Municipal Obligations Taxable [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost | 59,610 | 71,371 |
Gross unrealized gains | 636 | 463 |
Gross unrealized losses | (92) | (271) |
Estimated fair value | 60,154 | 71,563 |
Agency Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost | 114,412 | 109,427 |
Gross unrealized gains | 197 | 171 |
Gross unrealized losses | (850) | (1,222) |
Estimated fair value | 113,759 | 108,376 |
Certificates of Deposit [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost | 9,224 | 9,700 |
Gross unrealized gains | ||
Gross unrealized losses | ||
Estimated fair value | $ 9,224 | $ 9,700 |
Investments - Schedule of Ava28
Investments - Schedule of Available For Sale Securities Continuous Unrealized Loss Position Fair Value (Details) $ in Thousands | Sep. 30, 2017USD ($)Number | Dec. 31, 2016USD ($)Number |
Schedule of Available-for-sale Securities [Line Items] | ||
No. of securities | Number | 229 | 408 |
Fair value, Less than 12 months | $ 123,780 | $ 222,093 |
Unrealized losses, Less than 12 months | (912) | (4,208) |
Fair value, 12 months or longer | 42,575 | 0 |
Unrealized losses, 12 months or longer | (851) | 0 |
Total, Fair value | 166,355 | 222,093 |
Total, Unrealized losses | $ (1,763) | $ (4,208) |
US Federal Agency Obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
No. of securities | Number | 10 | 9 |
Fair value, Less than 12 months | $ 13,812 | $ 15,056 |
Unrealized losses, Less than 12 months | (35) | (49) |
Fair value, 12 months or longer | 995 | |
Unrealized losses, 12 months or longer | (5) | |
Total, Fair value | 14,807 | 15,056 |
Total, Unrealized losses | $ (40) | $ (49) |
Municipal Obligations Tax Exempt [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
No. of securities | Number | 116 | 275 |
Fair value, Less than 12 months | $ 17,851 | $ 97,842 |
Unrealized losses, Less than 12 months | (141) | (2,666) |
Fair value, 12 months or longer | 32,217 | |
Unrealized losses, 12 months or longer | (640) | |
Total, Fair value | 50,068 | 97,842 |
Total, Unrealized losses | $ (781) | $ (2,666) |
Municipal Obligations Taxable [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
No. of securities | Number | 43 | 66 |
Fair value, Less than 12 months | $ 14,117 | $ 26,184 |
Unrealized losses, Less than 12 months | (70) | (271) |
Fair value, 12 months or longer | 1,723 | |
Unrealized losses, 12 months or longer | (22) | |
Total, Fair value | 15,840 | 26,184 |
Total, Unrealized losses | $ (92) | $ (271) |
Agency Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
No. of securities | Number | 60 | 58 |
Fair value, Less than 12 months | $ 78,000 | $ 83,011 |
Unrealized losses, Less than 12 months | (666) | (1,222) |
Fair value, 12 months or longer | 7,640 | |
Unrealized losses, 12 months or longer | (184) | |
Total, Fair value | 85,640 | 83,011 |
Total, Unrealized losses | $ (850) | $ (1,222) |
Investments - Schedule of Inves
Investments - Schedule of Investments Classified by Contractual Maturity Date (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Investments, Debt and Equity Securities [Abstract] | ||
Amortized cost, Due in less than one year | $ 28,765 | |
Amortized cost, Due after one year but within five years | 176,397 | |
Amortized cost, Due after five years but within ten years | 97,814 | |
Amortized cost, Due after ten years | 84,737 | |
Amortized cost, Common stocks | 162 | |
Amortized cost, Total | 387,875 | $ 387,733 |
Estimated fair value, Due in less than one year | 28,794 | |
Estimated fair value, Due after one year but within five years | 176,366 | |
Estimated fair value, Due after five years but within ten years | 98,668 | |
Estimated fair value, Due after ten years | 85,237 | |
Estimated fair value, Common stocks | 323 | |
Estimated fair value, Total | $ 389,388 | $ 385,563 |
Investments - Schedule of Reali
Investments - Schedule of Realized Gain (Loss) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Investments, Debt and Equity Securities [Abstract] | ||||
Sales proceeds | $ 54 | $ 708 | $ 13,513 | $ 14,326 |
Realized gains | 39 | 261 | 387 | 573 |
Realized losses | (24) | (15) | ||
Net realized losses | $ 39 | $ 261 | $ 363 | $ 558 |
Loans and Allowance for Loan 31
Loans and Allowance for Loan Losses (Details Narrative) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | Dec. 31, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2015 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Impaired Financing Receivable Loan Balance Charged Off | $ 9,300 | $ 6,700 | |||||
Loans and Leases Receivable, Impaired, Interest Lost on Nonaccrual Loans | 79 | 43 | |||||
Impaired Financing Receivable, Recorded Investment, Total | 9,259 | 6,728 | |||||
Loans and Leases Receivable, Impaired, Commitment to Lend | 32 | ||||||
Provision For Loan Losses Reversal | 30 | ||||||
Loans and Leases Receivable, Allowance | $ 5,507 | 5,379 | $ 5,507 | 5,344 | $ 5,326 | $ 5,652 | $ 5,922 |
Trouble Debt Restructurings [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Impaired Financing Receivable Loan Balance Charged Off | 2 | 215 | |||||
Loans Receivable, Gross, Commercial, Agricultural | 15 | ||||||
Loans and Leases Receivable, Allowance | 50 | 80 | |||||
Commercial Real Estate [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans Receivable, Gross, Commercial, Real Estate, Total | 11 | ||||||
Loans and Leases Receivable, Allowance | 1,736 | 1,720 | 1,736 | $ 1,777 | $ 1,709 | 1,776 | $ 1,740 |
Residential Real Estate [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans Receivable, Gross, Commercial, Real Estate, Total | 25 | 188 | |||||
Agriculture Loans [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Impaired Financing Receivable Loan Balance Charged Off | 215 | ||||||
Loans Receivable, Gross, Commercial, Agricultural | $ 302 | 87 | $ 302 | ||||
Impaired Financing Receivable, Recorded Investment, Total | |||||||
Commercial Loan [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans Receivable, Gross, Commercial, Real Estate, Total | $ 8 |
Loans and Allowance for Loan 32
Loans and Allowance for Loan Losses - Schedule of Accounts, Notes, Loans and Financing Receivable (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Jun. 30, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Dec. 31, 2015 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Total gross loans | $ 434,054 | $ 425,769 | ||||
Net deferred loan costs and loans in process | (236) | 36 | ||||
Allowance for loan losses | (5,379) | $ (5,326) | (5,344) | $ (5,507) | $ (5,652) | $ (5,922) |
Loans, net, carrying amount | $ 428,439 | $ 420,461 | ||||
Total gross loans | 100.00% | 100.00% | ||||
One-To-Four Family Residential Real Estate [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Total gross loans | $ 136,829 | $ 136,846 | ||||
Allowance for loan losses | (504) | (609) | (584) | (925) | ||
Loans, net, carrying amount | $ 136,829 | $ 136,846 | ||||
Total gross loans | 31.50% | 32.10% | ||||
Construction and Land [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Total gross loans | $ 15,898 | $ 13,738 | ||||
Allowance for loan losses | (103) | (70) | (53) | |||
Loans, net, carrying amount | $ 15,898 | $ 13,738 | ||||
Total gross loans | 3.70% | 3.20% | ||||
Commercial Real Estate [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Total gross loans | $ 120,818 | $ 118,200 | ||||
Allowance for loan losses | (1,720) | (1,777) | ||||
Loans, net, carrying amount | $ 120,818 | $ 118,200 | ||||
Total gross loans | 27.80% | 27.80% | ||||
Commercial [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Total gross loans | $ 50,944 | $ 54,506 | ||||
Allowance for loan losses | (1,009) | (1,081) | (1,119) | (1,374) | (1,393) | (1,530) |
Loans, net, carrying amount | $ 50,944 | $ 54,506 | ||||
Total gross loans | 11.70% | 12.80% | ||||
Agriculture [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Total gross loans | $ 84,101 | $ 78,324 | ||||
Allowance for loan losses | (1,859) | (1,772) | (1,684) | (1,473) | (1,600) | (1,428) |
Loans, net, carrying amount | $ 84,101 | $ 78,324 | ||||
Total gross loans | 19.40% | 18.40% | ||||
Municipal [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Total gross loans | $ 3,479 | $ 3,884 | ||||
Allowance for loan losses | (9) | (12) | ||||
Loans, net, carrying amount | $ 3,479 | $ 3,884 | ||||
Total gross loans | 0.80% | 0.90% | ||||
Consumer [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Total gross loans | $ 21,985 | $ 20,271 | ||||
Allowance for loan losses | (179) | $ (185) | (195) | $ (23) | $ (23) | $ (23) |
Loans, net, carrying amount | $ 21,985 | $ 20,271 | ||||
Total gross loans | 5.10% | 4.80% |
Loans and Allowance for Loan 33
Loans and Allowance for Loan Losses - Schedule of Allowance for Credit Losses on Financing Receivables (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Dec. 31, 2016 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Balance | $ 5,326 | $ 5,652 | $ 5,344 | $ 5,922 | ||
Charge-offs | (84) | (318) | (329) | (992) | ||
Recoveries | 37 | 23 | 114 | 77 | ||
Provision for loan losses | 100 | 150 | 250 | 500 | ||
Balance | 5,379 | 5,507 | 5,379 | 5,507 | ||
Individually evaluated for loss | $ 250 | $ 274 | ||||
Collectively evaluated for loss | 5,129 | 5,070 | ||||
Total | 5,379 | 5,652 | 5,379 | 5,507 | 5,379 | 5,344 |
Individually evaluated for loss | 9,259 | 6,728 | ||||
Collectively evaluated for loss | 424,795 | 419,041 | ||||
Total | 428,439 | 420,461 | ||||
One-To-Four Family Residential Real Estate [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Balance | 499 | |||||
Charge-offs | ||||||
Recoveries | 1 | |||||
Provision for loan losses | ||||||
Balance | 500 | 500 | ||||
Total | 500 | 500 | 500 | |||
Commercial Real Estate [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Balance | 1,709 | 1,776 | 1,777 | 1,740 | ||
Charge-offs | (61) | |||||
Recoveries | ||||||
Provision for loan losses | 11 | (40) | 4 | (4) | ||
Balance | 1,720 | 1,736 | 1,720 | 1,736 | ||
Total | 1,709 | 1,776 | 1,720 | 1,736 | 1,720 | 1,777 |
Construction and Land [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Balance | 89 | 53 | 77 | |||
Charge-offs | ||||||
Recoveries | ||||||
Provision for loan losses | (7) | 50 | 5 | |||
Balance | 82 | 82 | ||||
Total | 89 | 53 | 82 | 53 | ||
Construction and Land [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Balance | 70 | 53 | ||||
Charge-offs | ||||||
Recoveries | ||||||
Provision for loan losses | 33 | |||||
Balance | 103 | 103 | ||||
Individually evaluated for loss | 36 | |||||
Collectively evaluated for loss | 67 | 53 | ||||
Total | 103 | 103 | 103 | 53 | ||
Individually evaluated for loss | 2,083 | 1,937 | ||||
Collectively evaluated for loss | 13,815 | 11,801 | ||||
Total | 15,898 | 13,738 | ||||
Commercial [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Balance | 1,081 | 1,393 | 1,119 | 1,530 | ||
Charge-offs | (306) | |||||
Recoveries | 10 | 9 | 19 | 29 | ||
Provision for loan losses | (82) | (28) | (129) | 121 | ||
Balance | 1,009 | 1,374 | 1,009 | 1,374 | ||
Individually evaluated for loss | 35 | 87 | ||||
Collectively evaluated for loss | 974 | 1,032 | ||||
Total | 1,009 | 1,393 | 1,009 | 1,374 | 1,009 | 1,119 |
Individually evaluated for loss | 1,579 | 355 | ||||
Collectively evaluated for loss | 49,365 | 54,151 | ||||
Total | 50,944 | 54,506 | ||||
Agriculture [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Balance | 1,772 | 1,600 | 1,684 | 1,428 | ||
Charge-offs | (215) | (298) | ||||
Recoveries | 1 | |||||
Provision for loan losses | 87 | 88 | 174 | 343 | ||
Balance | 1,859 | 1,473 | 1,859 | 1,473 | ||
Individually evaluated for loss | 111 | 89 | ||||
Collectively evaluated for loss | 1,748 | 1,595 | ||||
Total | 1,859 | 1,600 | 1,859 | 1,473 | 1,859 | 1,684 |
Individually evaluated for loss | 883 | 881 | ||||
Collectively evaluated for loss | 83,218 | 77,443 | ||||
Total | 84,101 | 78,324 | ||||
Municipal Bonds [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Balance | 10 | 187 | 199 | |||
Charge-offs | (89) | (374) | ||||
Recoveries | 14 | 11 | 34 | |||
Provision for loan losses | (15) | 101 | 351 | |||
Balance | 9 | 210 | 9 | 210 | ||
Total | 10 | 187 | 9 | 210 | 9 | |
Consumer [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Balance | 185 | 23 | 195 | 23 | ||
Charge-offs | (84) | (249) | ||||
Recoveries | 12 | 71 | 6 | |||
Provision for loan losses | 66 | 162 | (6) | |||
Balance | 179 | 23 | 179 | 23 | ||
Individually evaluated for loss | 17 | |||||
Collectively evaluated for loss | 179 | 178 | ||||
Total | 179 | 23 | 179 | 23 | 179 | 195 |
Individually evaluated for loss | 44 | 72 | ||||
Collectively evaluated for loss | 21,941 | 20,199 | ||||
Total | 21,985 | 20,271 | ||||
One-To-Four Family Residential Real Estate [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Balance | 584 | 504 | 925 | |||
Charge-offs | (14) | (19) | (14) | |||
Recoveries | 3 | 9 | 8 | |||
Provision for loan losses | 36 | 6 | (310) | |||
Balance | 609 | 609 | ||||
Individually evaluated for loss | 15 | |||||
Collectively evaluated for loss | 485 | 504 | ||||
Total | $ 584 | 504 | $ 609 | 504 | ||
Individually evaluated for loss | 531 | 780 | ||||
Collectively evaluated for loss | 136,298 | 136,066 | ||||
Total | 136,829 | 136,846 | ||||
Municipal [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Balance | 12 | |||||
Charge-offs | ||||||
Recoveries | 14 | |||||
Provision for loan losses | (17) | |||||
Balance | 9 | 9 | ||||
Individually evaluated for loss | ||||||
Collectively evaluated for loss | 9 | 12 | ||||
Total | 9 | 9 | 9 | 12 | ||
Individually evaluated for loss | 140 | 258 | ||||
Collectively evaluated for loss | 3,339 | 3,626 | ||||
Total | 3,479 | 3,884 | ||||
Commercial Real Estate [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Balance | 1,777 | |||||
Balance | 1,720 | 1,720 | ||||
Individually evaluated for loss | 53 | 81 | ||||
Collectively evaluated for loss | 1,667 | 1,696 | ||||
Total | $ 1,720 | $ 1,720 | 1,720 | 1,777 | ||
Individually evaluated for loss | 3,999 | 2,445 | ||||
Collectively evaluated for loss | 116,819 | 115,755 | ||||
Total | $ 120,818 | $ 118,200 |
Loans and Allowance for Loan 34
Loans and Allowance for Loan Losses - Schedule of Impaired Financing Receivables (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2017 | Dec. 31, 2016 | |
Financing Receivable, Impaired [Line Items] | ||
Unpaid contractual principal | $ 11,209 | $ 8,755 |
Impaired loan balance | 9,259 | 6,728 |
Impaired loans without an allowance | 8,362 | 5,368 |
Impaired loans with an allowance | 897 | 1,360 |
Related allowance recorded | 250 | 274 |
Year-to-date average loan balance | 9,507 | 7,374 |
Year-to-date interest income recognized | 434 | 601 |
One-To-Four Family Residential Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid contractual principal | 531 | 780 |
Impaired loan balance | 531 | 780 |
Impaired loans without an allowance | 496 | 780 |
Impaired loans with an allowance | 35 | |
Related allowance recorded | 15 | |
Year-to-date average loan balance | 552 | 798 |
Year-to-date interest income recognized | 6 | 7 |
Construction and Land [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid contractual principal | 3,818 | 3,672 |
Impaired loan balance | 2,083 | 1,937 |
Impaired loans without an allowance | 1,885 | 1,937 |
Impaired loans with an allowance | 198 | |
Related allowance recorded | 36 | |
Year-to-date interest income recognized | 49 | 72 |
Commercial Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid contractual principal | 3,999 | 2,445 |
Impaired loan balance | 3,999 | 2,445 |
Impaired loans without an allowance | 3,939 | 2,145 |
Impaired loans with an allowance | 60 | 300 |
Related allowance recorded | 53 | 81 |
Year-to-date interest income recognized | 368 | 505 |
Commercial [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid contractual principal | 1,579 | 355 |
Impaired loan balance | 1,579 | 355 |
Impaired loans without an allowance | 1,372 | 46 |
Impaired loans with an allowance | 207 | 309 |
Related allowance recorded | 35 | 87 |
Year-to-date average loan balance | 1,660 | 425 |
Year-to-date interest income recognized | 2 | |
Agriculture [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid contractual principal | 1,098 | 1,173 |
Impaired loan balance | 883 | 881 |
Impaired loans without an allowance | 486 | 147 |
Impaired loans with an allowance | 397 | 734 |
Related allowance recorded | 111 | 89 |
Year-to-date average loan balance | 992 | 1,000 |
Year-to-date interest income recognized | 7 | 2 |
Municipal [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid contractual principal | 140 | 258 |
Impaired loan balance | 140 | 258 |
Impaired loans without an allowance | 140 | 258 |
Impaired loans with an allowance | ||
Related allowance recorded | ||
Year-to-date average loan balance | 209 | 418 |
Year-to-date interest income recognized | 4 | |
Consumer [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid contractual principal | 44 | 72 |
Impaired loan balance | 44 | 72 |
Impaired loans without an allowance | 44 | 55 |
Impaired loans with an allowance | 17 | |
Related allowance recorded | 17 | |
Year-to-date average loan balance | 47 | 78 |
Year-to-date interest income recognized | 13 | |
Construction and Land [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Year-to-date average loan balance | 2,030 | 2,068 |
Commercial Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Year-to-date average loan balance | $ 4,017 | $ 2,587 |
Loans and Allowance for Loan 35
Loans and Allowance for Loan Losses - Schedule of Past Due Financing Receivables (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2017 | Dec. 31, 2016 | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, 90 days or more delinquent and accruing | ||
Loans, Total past due loans accruing | 2,913 | 758 |
Loans, Non-accrual loans | 5,489 | 2,746 |
Loan, Total past due and non-accrual loans | 8,402 | 3,504 |
Loan, Total loans not past due | $ 425,652 | $ 422,265 |
Percent of gross loans, 30-59 days delinquent and accruing | 0.51% | 0.09% |
Percent of gross loans, 60-89 days delinquent and accruing | 0.16% | 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 | 0.67% | 0.18% |
Percent of gross loans, Non-accrual loans | 1.26% | 0.64% |
Percentage of Total past due and non-accrual loans | 1.94% | 0.82% |
Percentage of Total loans not past due | 98.06% | 99.18% |
30-59Days Delinquent and Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | $ 2,219 | $ 215 |
60-89 Days Delinquent and Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 694 | 396 |
Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, 90 days or more delinquent and accruing | ||
Loans, Total past due loans accruing | 50 | 18 |
Loans, Non-accrual loans | 342 | |
Loan, Total past due and non-accrual loans | 1,629 | 360 |
Loan, Total loans not past due | 49,315 | 54,146 |
Commercial [Member] | 30-59Days Delinquent and Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 50 | |
Commercial [Member] | 60-89 Days Delinquent and Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 5 | |
Agriculture [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, 90 days or more delinquent and accruing | ||
Loans, Total past due loans accruing | 678 | 55 |
Loans, Non-accrual loans | 883 | 838 |
Loan, Total past due and non-accrual loans | 1,561 | 893 |
Loan, Total loans not past due | 82,540 | 77,431 |
Agriculture [Member] | 30-59Days Delinquent and Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 588 | |
Agriculture [Member] | 60-89 Days Delinquent and Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 90 | |
Municipal [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, 90 days or more delinquent and accruing | ||
Loans, Total past due loans accruing | ||
Loans, Non-accrual loans | ||
Loan, Total past due and non-accrual loans | ||
Loan, Total loans not past due | 3,479 | 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 | ||
Municipal [Member] | 60-89 Days Delinquent and Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | ||
Consumer Loan [Member] | 30-59Days Delinquent and Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 122 | 79 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, 90 days or more delinquent and accruing | ||
Loans, Total past due loans accruing | 127 | 82 |
Loans, Non-accrual loans | 44 | 72 |
Loan, Total past due and non-accrual loans | 171 | 154 |
Loan, Total loans not past due | 21,814 | 20,117 |
Consumer [Member] | 60-89 Days Delinquent and Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 5 | 3 |
One-To-Four Family Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, 90 days or more delinquent and accruing | ||
Loans, Total past due loans accruing | 1,416 | 603 |
Loans, Non-accrual loans | 333 | 595 |
Loan, Total past due and non-accrual loans | 1,749 | 1,198 |
Loan, Total loans not past due | 135,080 | 135,648 |
One-To-Four Family Residential Real Estate [Member] | 30-59Days Delinquent and Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 1,163 | |
One-To-Four Family Residential Real Estate [Member] | 60-89 Days Delinquent and Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 253 | 388 |
Construction and Land [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, 90 days or more delinquent and accruing | ||
Loans, Total past due loans accruing | 432 | |
Loans, Non-accrual loans | 786 | 599 |
Loan, Total past due and non-accrual loans | 1,218 | 599 |
Loan, Total loans not past due | 14,680 | 13,139 |
Construction and Land [Member] | 30-59Days Delinquent and Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 86 | |
Construction and Land [Member] | 60-89 Days Delinquent and Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 346 | |
Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, 90 days or more delinquent and accruing | ||
Loans, Total past due loans accruing | 210 | |
Loans, Non-accrual loans | 1,864 | 300 |
Loan, Total past due and non-accrual loans | 2,074 | 300 |
Loan, Total loans not past due | 118,744 | 117,900 |
Commercial Real Estate [Member] | 30-59Days Delinquent and Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 210 | |
Commercial Real Estate [Member] | 60-89 Days Delinquent and Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due |
Loans and Allowance for Loan 36
Loans and Allowance for Loan Losses - Schedule of Risk Categories by Loan Class (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Financing Receivable, Modifications [Line Items] | ||
Loans and Leases Receivable, Gross, Total | $ 434,054 | $ 425,769 |
One-To-Four Family Residential Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and Leases Receivable, Gross, Total | 136,829 | 136,846 |
Construction and Land [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and Leases Receivable, Gross, Total | 15,898 | 13,738 |
Commercial Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and Leases Receivable, Gross, Total | 120,818 | 118,200 |
Commercial [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and Leases Receivable, Gross, Total | 50,944 | 54,506 |
Agriculture [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and Leases Receivable, Gross, Total | 84,101 | 78,324 |
Municipal [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and Leases Receivable, Gross, Total | 3,479 | 3,884 |
Consumer [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and Leases Receivable, Gross, Total | 21,985 | 20,271 |
Loans Receivables Non Classified [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and Leases Receivable, Gross, Total | 418,702 | 409,128 |
Loans Receivables Non Classified [Member] | One-To-Four Family Residential Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and Leases Receivable, Gross, Total | 136,064 | 135,640 |
Loans Receivables Non Classified [Member] | Construction and Land [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and Leases Receivable, Gross, Total | 15,112 | 13,138 |
Loans Receivables Non Classified [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and Leases Receivable, Gross, Total | 115,000 | 111,641 |
Loans Receivables Non Classified [Member] | Commercial [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and Leases Receivable, Gross, Total | 47,685 | 51,080 |
Loans Receivables Non Classified [Member] | Agriculture [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and Leases Receivable, Gross, Total | 79,430 | 73,564 |
Loans Receivables Non Classified [Member] | Municipal [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and Leases Receivable, Gross, Total | 3,479 | 3,884 |
Loans Receivables Non Classified [Member] | Consumer [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and Leases Receivable, Gross, Total | 21,932 | 20,181 |
Loans Receivables Classified [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and Leases Receivable, Gross, Total | 15,352 | 16,641 |
Loans Receivables Classified [Member] | One-To-Four Family Residential Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and Leases Receivable, Gross, Total | 765 | 1,206 |
Loans Receivables Classified [Member] | Construction and Land [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and Leases Receivable, Gross, Total | 786 | 600 |
Loans Receivables Classified [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and Leases Receivable, Gross, Total | 5,818 | 6,559 |
Loans Receivables Classified [Member] | Commercial [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and Leases Receivable, Gross, Total | 3,259 | 3,426 |
Loans Receivables Classified [Member] | Agriculture [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and Leases Receivable, Gross, Total | 4,671 | 4,760 |
Loans Receivables Classified [Member] | Municipal [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and Leases Receivable, Gross, Total | ||
Loans Receivables Classified [Member] | Consumer [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans and Leases Receivable, Gross, Total | $ 53 | $ 90 |
Loans and Allowance for Loan 37
Loans and Allowance for Loan Losses - Schedule of Troubled Debt Restructurings On Financing Receivables (Details) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2017USD ($)Number | Dec. 31, 2016USD ($)Number | |
Troubled debt restructurings, Number of loans | Number | 20 | 17 |
Financing Receivable, Modifications, Recorded Investment, Non Accrual Balance | $ 5,489 | $ 2,746 |
One-To-Four Family Residential Real Estate [Member] | ||
Troubled debt restructurings, Number of loans | Number | 2 | 2 |
Financing Receivable, Modifications, Recorded Investment, Non Accrual Balance | ||
Financing Receivable, Modifications, Recorded Investment, Accruing Balance | $ 198 | $ 185 |
Commercial [Member] | ||
Troubled debt restructurings, Number of loans | Number | 2 | |
Financing Receivable, Modifications, Recorded Investment, Non Accrual Balance | $ 342 | |
Financing Receivable, Modifications, Recorded Investment, Accruing Balance | $ 13 | |
Agriculture [Member] | ||
Troubled debt restructurings, Number of loans | Number | 8 | 4 |
Financing Receivable, Modifications, Recorded Investment, Non Accrual Balance | $ 883 | $ 838 |
Municipal [Member] | ||
Troubled debt restructurings, Number of loans | Number | 2 | 2 |
Financing Receivable, Modifications, Recorded Investment, Non Accrual Balance | ||
Financing Receivable, Modifications, Recorded Investment, Accruing Balance | 140 | 258 |
Construction and Land [Member] | ||
Financing Receivable, Modifications, Recorded Investment, Non Accrual Balance | 578 | 588 |
Financing Receivable, Modifications, Recorded Investment, Accruing Balance | 1,297 | 1,338 |
Commercial Real Estate [Member] | ||
Financing Receivable, Modifications, Recorded Investment, Non Accrual Balance | 60 | 64 |
Financing Receivable, Modifications, Recorded Investment, Accruing Balance | 2,135 | 2,145 |
Agriculture [Member] | ||
Financing Receivable, Modifications, Recorded Investment, Non Accrual Balance | 361 | 268 |
Financing Receivable, Modifications, Recorded Investment, Accruing Balance | 44 | |
TDR [Member] | ||
Financing Receivable, Modifications, Recorded Investment, Non Accrual Balance | 999 | 920 |
Financing Receivable, Modifications, Recorded Investment, Accruing Balance | $ 3,770 | $ 3,983 |
Construction and Land [Member] | ||
Troubled debt restructurings, Number of loans | Number | 4 | 4 |
Financing Receivable, Modifications, Recorded Investment, Non Accrual Balance | $ 786 | $ 599 |
Commercial Real Estate [Member] | ||
Troubled debt restructurings, Number of loans | Number | 4 | 3 |
Financing Receivable, Modifications, Recorded Investment, Non Accrual Balance | $ 1,864 | $ 300 |
Goodwill and Other Intangible38
Goodwill and Other Intangible Assets (Details Narrative) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 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 | 2.23% | 2.26% | |||
Mortgage Loans Serviced [Member] | |||||
Finite-Lived Intangible Assets [Line Items] | |||||
Escrow Deposit | $ 5,000 | $ 5,000 | $ 4,100 | ||
Interest and Fee Income, Other Loans | 330 | $ 308 | 969 | $ 908 | |
Servicing Asset at Fair Value, Amount | 5,400 | $ 5,400 | $ 5,100 | ||
Assumption for Fair Value of Assets or Liabilities that relate to Transferor's Continuing Involvement, Discount Rate | 9.59% | 8.91% | |||
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% | 9.51% | |||
Assumption for Fair Value of Assets or Liabilities that relate to Transferor's Continuing Involvement, Prepayment Speed | 0.00% | 32.79% | |||
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% | 9.50% | |||
Assumption for Fair Value of Assets or Liabilities that relate to Transferor's Continuing Involvement, Prepayment Speed | 33.92% | 4.86% | |||
Mortgage Repurchase Reserve [Member] | |||||
Finite-Lived Intangible Assets [Line Items] | |||||
Mortgage Loans on Real Estate, Write-down or Reserve, Amount | $ 235 | $ 235 | $ 301 | ||
Loss charged against reserve, amount | 66 | ||||
Financing Receivable, Allowance for Credit Losses, Recovery | $ 10 |
Goodwill and Other Intangible39
Goodwill and Other Intangible Assets - Schedule of Intangible Assets and Goodwill (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Finite-Lived Intangible Assets [Line Items] | ||
Intangible assets, Gross carrying amount | $ 8,586 | $ 8,205 |
Intangible assets, Accumulated amortization | 4,844 | (4,219) |
Intangible assets, Net carrying amount | 3,742 | 3,986 |
Core Deposits [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Intangible assets, Gross carrying amount | 2,067 | 2,067 |
Intangible assets, Accumulated amortization | (1,324) | (1,137) |
Intangible assets, Net carrying amount | 743 | 930 |
Lease Agreements [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Intangible assets, Gross carrying amount | 350 | 350 |
Intangible assets, Accumulated amortization | (177) | (143) |
Intangible assets, Net carrying amount | 173 | 207 |
Mortgage Servicing Rights [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Intangible assets, Gross carrying amount | 6,169 | 5,788 |
Intangible assets, Accumulated amortization | (3,343) | (2,939) |
Intangible assets, Net carrying amount | $ 2,826 | $ 2,849 |
Goodwill and Other Intangible40
Goodwill and Other Intangible Assets - Schedule of Finite-Lived Intangible Assets, Future Amortization Expense (Details) $ in Thousands | Jun. 30, 2017USD ($) |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Remainder of 2017 | $ 68 |
2,018 | 252 |
2,019 | 214 |
2,020 | 177 |
2,021 | 121 |
Thereafter | 84 |
Total | $ 916 |
Goodwill and Other Intangible41
Goodwill and Other Intangible Assets - Schedule of Participating Mortgage Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Mortgage Loans on Real Estate [Line Items] | ||
Mortgage Loans on Real Estate, Face Amount of Mortgages | $ 521,519 | $ 494,749 |
Federal Home Loan Mortgage Corporation Certificates and Obligations (FHLMC) [Member] | ||
Mortgage Loans on Real Estate [Line Items] | ||
Mortgage Loans on Real Estate, Face Amount of Mortgages | 511,517 | 483,356 |
Federal Home Loan Bank Certificates and Obligations (FHLB) [Member] | ||
Mortgage Loans on Real Estate [Line Items] | ||
Mortgage Loans on Real Estate, Face Amount of Mortgages | $ 10,002 | $ 11,393 |
Goodwill and Other Intangible42
Goodwill and Other Intangible Assets - Schedule of Servicing Asset at Amortized Cost (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Goodwill and Intangible Assets Disclosure [Abstract] | ||||
Balance at beginning of period | $ 2,813 | $ 2,851 | $ 2,849 | $ 2,840 |
Additions | 260 | 268 | 702 | 780 |
Amortization | (247) | (291) | (725) | (792) |
Balance at end of period | $ 2,826 | $ 2,828 | $ 2,826 | $ 2,828 |
Earnings (Loss) per Share (Deta
Earnings (Loss) per Share (Details Narrative) - shares | 3 Months Ended | 9 Months Ended |
Sep. 30, 2017 | Sep. 30, 2017 | |
Earnings (loss) per share: | ||
Antidilutive securities excluded from computation of earnings per share | 180,014 | 21,152 |
Earnings (Loss) per Share - Sch
Earnings (Loss) per Share - Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | ||
Earnings (loss) per share: | |||||
Net (loss) earnings | [1],[2] | $ (2,661) | $ 2,156 | $ 1,927 | $ 6,875 |
Weighted average common shares outstanding - basic | [3] | 3,872,829 | 3,827,899 | 3,871,075 | 3,785,784 |
Assumed exercise of stock options | [3],[4] | 72,623 | 74,134 | 70,486 | |
Weighted average common shares outstanding - diluted | [3],[4] | 3,872,829 | 3,900,522 | 3,945,209 | 3,856,270 |
Basic | [1],[5] | $ (0.69) | $ 0.56 | $ 0.50 | $ 1.82 |
Diluted | [1],[5] | $ (0.69) | $ 0.55 | $ 0.49 | $ 1.78 |
[1] | Income tax expense, net earnings, and earnings per share for the periods ended September 30, 2016 have been recast to reflect the early adoption of Accounting Standards Update ("ASU") 2016-09 | ||||
[2] | Net earnings for the periods ended September 30, 2016 have been recast to reflect the early adoption of ASU 2016-09. | ||||
[3] | Share and per share values for the periods ended September 30, 2016 have been adjusted to give effect to the 5% stock dividend paid during December 2016. | ||||
[4] | Net (loss) earnings, earnings per share, and assumed exercise of stock options for the periods ended September 30, 2016 have been recast to reflect the early adoption of ASU 2016-09. | ||||
[5] | Per share amounts for the periods ended September 30, 2016 have been adjusted to give effect to the 5% stock dividend paid during December 2016. |
Earnings (Loss) per Share - S45
Earnings (Loss) per Share - Schedule of Earnings Per Share, Basic and Diluted (Details) (Parenthetical) | 12 Months Ended |
Dec. 31, 2016 | |
Earnings (loss) per share: | |
Percentage Of Stocks Dividend | 5.00% |
Repurchase Agreements (Details
Repurchase Agreements (Details Narrative) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Assets Sold under Agreements to Repurchase [Line Items] | ||
Customer Funds | $ 11,500 | $ 12,500 |
Repurchase Agreements [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Debt Instrument, Collateral Amount | $ 18,200 | $ 15,700 |
Repurchase Agreements - Schedul
Repurchase Agreements - Schedule of Repurchase Agreements (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Assets Sold under Agreements to Repurchase [Line Items] | ||
Assets Sold under Agreements to Repurchase, Carrying Amount | $ 11,487 | $ 12,483 |
Overnight And Continuous [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Assets Sold under Agreements to Repurchase, Carrying Amount | 11,487 | 12,483 |
Upto 30 Days [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Assets Sold under Agreements to Repurchase, Carrying Amount | ||
30 - 90 Days [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Assets Sold under Agreements to Repurchase, Carrying Amount | ||
Greater Than 90 Days [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Assets Sold under Agreements to Repurchase, Carrying Amount | ||
US Federal Agency Obligations [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Assets Sold under Agreements to Repurchase, Carrying Amount | 5,391 | 5,007 |
US Federal Agency Obligations [Member] | Overnight And Continuous [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Assets Sold under Agreements to Repurchase, Carrying Amount | 5,391 | 5,007 |
US Federal Agency Obligations [Member] | Upto 30 Days [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Assets Sold under Agreements to Repurchase, Carrying Amount | ||
US Federal Agency Obligations [Member] | 30 - 90 Days [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Assets Sold under Agreements to Repurchase, Carrying Amount | ||
US Federal Agency Obligations [Member] | Greater Than 90 Days [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Assets Sold under Agreements to Repurchase, Carrying Amount | ||
Agency Mortgage-Backed Securities [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Assets Sold under Agreements to Repurchase, Carrying Amount | 6,096 | 7,476 |
Agency Mortgage-Backed Securities [Member] | Overnight And Continuous [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Assets Sold under Agreements to Repurchase, Carrying Amount | 6,096 | 7,476 |
Agency Mortgage-Backed Securities [Member] | Upto 30 Days [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Assets Sold under Agreements to Repurchase, Carrying Amount | ||
Agency Mortgage-Backed Securities [Member] | 30 - 90 Days [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Assets Sold under Agreements to Repurchase, Carrying Amount | ||
Agency Mortgage-Backed Securities [Member] | Greater Than 90 Days [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Assets Sold under Agreements to Repurchase, Carrying Amount |
Fair Value of Financial Instr48
Fair Value of Financial Instruments and Fair Value Measurements (Details Narrative) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Fair Value Disclosures [Abstract] | ||
Impaired Financing Receivable, Related Allowance | $ 250 | $ 274 |
Impaired Financing Receivable, Recorded Investment, Total | $ 9,259 | $ 6,728 |
Fair Value of Financial Instr49
Fair Value of Financial Instruments and Fair Value Measurements - Schedule of Fair Value, by Balance Sheet Grouping (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Dec. 31, 2015 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Cash and cash equivalents, carrying amount | $ 18,772 | $ 19,996 | $ 17,650 | $ 13,569 |
Cash and cash equivalents | 18,772 | 19,996 | ||
Investment securities available for sale | 389,388 | 385,563 | ||
Bank stocks, at cost | 5,350 | 5,299 | ||
Loans, net, carrying amount | 428,439 | 420,461 | ||
Loans, net | 426,935 | |||
Loans held for sale, net, carrying amount | 8,583 | 5,517 | ||
Loans held for sale, net | 8,583 | 5,517 | ||
Derivative financial instruments | 583 | 662 | ||
Accrued interest receivable, carrying amount | 4,406 | 4,240 | ||
Non-maturity deposits, carrying amount | (605,759) | (601,683) | ||
Time deposits, carrying amount | (127,251) | (139,838) | ||
FHLB borrowings, carrying amount | (64,400) | (39,100) | ||
Subordinated debentures, carrying amount | (21,434) | (21,284) | ||
Other borrowings, carrying amount | (11,487) | (12,483) | ||
Accrued interest payable, carrying amount | (270) | (268) | ||
Derivative financial instruments | (32) | |||
Reported Value Measurement [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Cash and cash equivalents, carrying amount | 18,772 | 19,996 | ||
Cash and cash equivalents | 18,772 | |||
Investment securities available for sale | 389,388 | 385,563 | ||
Bank stocks, at cost | 5,384 | |||
Loans, net, carrying amount | 428,439 | 417,957 | ||
Loans, net | 428,439 | |||
Loans held for sale, net, carrying amount | 8,583 | 5,517 | ||
Loans held for sale, net | 8,583 | |||
Derivative financial instruments | 583 | 662 | ||
Accrued interest receivable, carrying amount | 4,406 | 4,240 | ||
Non-maturity deposits, carrying amount | (605,759) | (601,683) | ||
Time deposits, carrying amount | (127,251) | (138,623) | ||
FHLB borrowings, carrying amount | (64,400) | (35,695) | ||
Subordinated debentures, carrying amount | (21,434) | (18,608) | ||
Other borrowings, carrying amount | (11,487) | (12,483) | ||
Accrued interest payable, carrying amount | (270) | (268) | ||
Derivative financial instruments | (32) | |||
Fair Value, Inputs, Level 1 [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Cash and cash equivalents | 18,772 | 19,996 | ||
Investment securities available for sale | 5,337 | 7,123 | ||
Bank stocks, at cost | ||||
Loans, net | ||||
Loans held for sale, net | ||||
Derivative financial instruments | ||||
Accrued interest receivable | 16 | 21 | ||
Non-maturity deposits | (605,759) | (601,683) | ||
Time deposits | ||||
FHLB borrowings | ||||
Subordinated debentures | ||||
Other borrowings | ||||
Derivative financial instruments | ||||
Accrued interest payable | ||||
Fair Value, Inputs, Level 2 [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Cash and cash equivalents | ||||
Investment securities available for sale | 384,051 | 378,440 | ||
Bank stocks, at cost | ||||
Loans, net | ||||
Loans held for sale, net | 8,583 | 5,517 | ||
Derivative financial instruments | 583 | 662 | ||
Accrued interest receivable | 2,034 | 2,104 | ||
Non-maturity deposits | ||||
Time deposits | (125,676) | (138,623) | ||
FHLB borrowings | (64,646) | (35,695) | ||
Subordinated debentures | (19,156) | (18,608) | ||
Other borrowings | (11,487) | (12,483) | ||
Derivative financial instruments | (32) | |||
Accrued interest payable | (270) | (268) | ||
Fair Value, Inputs, Level 3 [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Cash and cash equivalents | ||||
Investment securities available for sale | ||||
Bank stocks, at cost | ||||
Loans, net | 426,935 | 417,957 | ||
Loans held for sale, net | ||||
Derivative financial instruments | ||||
Accrued interest receivable | 2,356 | 2,115 | ||
Non-maturity deposits | ||||
Time deposits | ||||
FHLB borrowings | ||||
Subordinated debentures | ||||
Other borrowings | ||||
Derivative financial instruments | ||||
Accrued interest payable |
Fair Value of Financial Instr50
Fair Value of Financial Instruments and Fair Value Measurements - Schedule of Fair Value, Assets Measured On Recurring Basis (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Investment securities available-for-sale, at fair value | $ 389,388 | $ 385,563 |
Loans held for Sale | 8,583 | 5,517 |
Derivative financial instruments | 583 | 662 |
Derivative financial instruments, carrying amount | (32) | |
Municipal Obligations Tax Exempt [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Investment securities available-for-sale, at fair value | 180,571 | 161,662 |
Municipal Obligations Taxable [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Investment securities available-for-sale, at fair value | 60,154 | 71,563 |
Agency mortgage-backed securities [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Investment securities available-for-sale, at fair value | 113,759 | 108,376 |
Certificates of deposit [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Investment securities available-for-sale, at fair value | 9,224 | 9,700 |
US Treasury Securities [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Investment securities available-for-sale, at fair value | 5,014 | 6,015 |
Fair Value, Measurements, Recurring [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Loans held for Sale | 8,583 | 5,517 |
Derivative financial instruments | 583 | 662 |
Derivative financial instruments, carrying amount | (32) | |
Fair Value, Inputs, Level 1 [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Investment securities available-for-sale, at fair value | 5,337 | 7,123 |
Loans held for Sale | ||
Derivative financial instruments | ||
Derivative financial instruments, carrying amount | ||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Loans held for Sale | ||
Derivative financial instruments | ||
Derivative financial instruments, carrying amount | ||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | US Federal Agency Obligations [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Investment securities available-for-sale, at fair value | ||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Municipal Obligations Tax Exempt [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Investment securities available-for-sale, at fair value | ||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Municipal Obligations Taxable [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Investment securities available-for-sale, at fair value | ||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Agency mortgage-backed securities [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Investment securities available-for-sale, at fair value | ||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Certificates of deposit [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Investment securities available-for-sale, at fair value | ||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Common stocks [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Investment securities available-for-sale, at fair value | 323 | 1,108 |
Fair Value, Inputs, Level 2 [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Investment securities available-for-sale, at fair value | 384,051 | 378,440 |
Loans held for Sale | 8,583 | 5,517 |
Derivative financial instruments | 583 | 662 |
Derivative financial instruments, carrying amount | (32) | |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Loans held for Sale | 8,583 | 5,517 |
Derivative financial instruments | 583 | 662 |
Derivative financial instruments, carrying amount | (32) | |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | US Federal Agency Obligations [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Investment securities available-for-sale, at fair value | 20,343 | 27,139 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Municipal Obligations Tax Exempt [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Investment securities available-for-sale, at fair value | 180,571 | 161,662 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Municipal Obligations Taxable [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Investment securities available-for-sale, at fair value | 60,154 | 71,563 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Agency mortgage-backed securities [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Investment securities available-for-sale, at fair value | 113,759 | 108,376 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Certificates of deposit [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Investment securities available-for-sale, at fair value | 9,224 | 9,700 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Common stocks [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Investment securities available-for-sale, at fair value | ||
Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Investment securities available-for-sale, at fair value | ||
Loans held for Sale | ||
Derivative financial instruments | ||
Derivative financial instruments, carrying amount | ||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Loans held for Sale | ||
Derivative financial instruments | ||
Derivative financial instruments, carrying amount | ||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | US Federal Agency Obligations [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Investment securities available-for-sale, at fair value | ||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Municipal Obligations Tax Exempt [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Investment securities available-for-sale, at fair value | ||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Municipal Obligations Taxable [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Investment securities available-for-sale, at fair value | ||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Agency mortgage-backed securities [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Investment securities available-for-sale, at fair value | ||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Certificates of deposit [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Investment securities available-for-sale, at fair value | ||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Common stocks [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Investment securities available-for-sale, at fair value | ||
US Treasury Securities [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Investment securities available-for-sale, at fair value | 5,014 | 6,015 |
US Treasury Securities [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Investment securities available-for-sale, at fair value | ||
US Treasury Securities [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Investment securities available-for-sale, at fair value | ||
US Federal Agency Obligations [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Investment securities available-for-sale, at fair value | 20,343 | 27,139 |
Municipal Obligations Tax Exempt [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Investment securities available-for-sale, at fair value | 180,571 | 161,662 |
Municipal Obligations Taxable [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Investment securities available-for-sale, at fair value | 60,154 | 71,563 |
Agency mortgage-backed securities [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Investment securities available-for-sale, at fair value | 113,759 | 108,376 |
Certificates of deposit [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Investment securities available-for-sale, at fair value | 9,224 | 9,700 |
Common stocks [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Investment securities available-for-sale, at fair value | $ 323 | $ 1,108 |
Fair Value of Financial Instr51
Fair Value of Financial Instruments and Fair Value Measurements - Schedule of Fair Value Contractual Balance and Gain Loss on Loans Held for Sale (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2017 | Dec. 31, 2016 | |
Fair Value Disclosures [Abstract] | ||
Aggregate fair value | $ 8,583 | $ 5,517 |
Contractual balance | 8,463 | 5,480 |
Gain | $ 120 | $ 37 |
Fair Value of Financial Instr52
Fair Value of Financial Instruments and Fair Value Measurements - Schedule of Gains and Losses from Changes in Fair Value of Loans Held for Sale (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Fair Value Disclosures [Abstract] | ||||
Interest income | $ 73 | $ 87 | $ 197 | $ 297 |
Change in fair value | (86) | (126) | 83 | (110) |
Total change in fair value | $ (13) | $ (39) | $ 280 | $ 187 |
Fair Value of Financial Instr53
Fair Value of Financial Instruments and Fair Value Measurements - Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques (Details) - Fair Value, Measurements, Nonrecurring [Member] - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2017 | Dec. 31, 2016 | |
One-To-Four Family Residential Real Estate [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Impaired loans | $ 20 | |
Total gains/(losses) on impaired loans fair value disclosure | (15) | |
Construction and Land [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Impaired loans | 162 | |
Total gains/(losses) on impaired loans fair value disclosure | (36) | |
Commercial RealEstate [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Impaired loans | 7 | |
Commercial Loan [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Impaired loans | $ 222 | |
Total gains/(losses) on impaired loans fair value disclosure | 14 | (87) |
Commercial [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Impaired loans | 172 | |
Total gains/(losses) on impaired loans fair value disclosure | 52 | |
Agriculture loan [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Impaired loans | 286 | 645 |
Total gains/(losses) on impaired loans fair value disclosure | (38) | (89) |
Fair Value, Inputs, Level 1 [Member] | One-To-Four Family Residential Real Estate [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Impaired loans | ||
Fair Value, Inputs, Level 1 [Member] | Construction and Land [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Impaired loans | ||
Fair Value, Inputs, Level 1 [Member] | Commercial RealEstate [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Impaired loans | ||
Fair Value, Inputs, Level 1 [Member] | Commercial Loan [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Impaired loans | ||
Fair Value, Inputs, Level 1 [Member] | Commercial [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Impaired loans | ||
Fair Value, Inputs, Level 1 [Member] | Agriculture loan [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Impaired loans | ||
Fair Value, Inputs, Level 2 [Member] | One-To-Four Family Residential Real Estate [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Impaired loans | ||
Fair Value, Inputs, Level 2 [Member] | Construction and Land [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Impaired loans | ||
Fair Value, Inputs, Level 2 [Member] | Commercial RealEstate [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Impaired loans | ||
Fair Value, Inputs, Level 2 [Member] | Commercial Loan [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Impaired loans | ||
Fair Value, Inputs, Level 2 [Member] | Commercial [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Impaired loans | ||
Fair Value, Inputs, Level 2 [Member] | Agriculture loan [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Impaired loans | ||
Fair Value, Inputs, Level 3 [Member] | One-To-Four Family Residential Real Estate [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Impaired loans | 20 | |
Fair Value, Inputs, Level 3 [Member] | Construction and Land [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Impaired loans | 162 | |
Fair Value, Inputs, Level 3 [Member] | Commercial RealEstate [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Impaired loans | 7 | |
Fair Value, Inputs, Level 3 [Member] | Commercial Loan [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Impaired loans | 222 | |
Fair Value, Inputs, Level 3 [Member] | Commercial [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Impaired loans | 172 | |
Fair Value, Inputs, Level 3 [Member] | Agriculture loan [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Impaired loans | 286 | 645 |
Residential Real Estate [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Impaired loans | 149 | 142 |
Total gains/(losses) on impaired loans fair value disclosure | (26) | (34) |
Residential Real Estate [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Impaired loans | ||
Residential Real Estate [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Impaired loans | ||
Residential Real Estate [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Impaired loans | $ 149 | 142 |
Commercial RealEstate [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Impaired loans | 219 | |
Total gains/(losses) on impaired loans fair value disclosure | (81) | |
Commercial RealEstate [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Impaired loans | ||
Commercial RealEstate [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Impaired loans | ||
Commercial RealEstate [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Impaired loans | $ 219 |
Fair Value of Financial Instr54
Fair Value of Financial Instruments and Fair Value Measurements - Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2017 | Dec. 31, 2016 | |
One-To-Four Family Residential Real Estate [Member] | Minimum [Member] | Commercial Loan [Member] | ||
Fair Value Measurements Sales Comparison Range | 7.00% | |
One-To-Four Family Residential Real Estate [Member] | Maximum [Member] | Commercial Loan [Member] | ||
Fair Value Measurements Sales Comparison Range | 40.00% | |
Construction and Land [Member] | Minimum [Member] | Commercial Loan [Member] | ||
Fair Value Measurements Sales Comparison Range | 6.00% | |
Construction and Land [Member] | Maximum [Member] | Commercial Loan [Member] | ||
Fair Value Measurements Sales Comparison Range | 35.00% | |
Commercial Real Estate [Member] | Minimum [Member] | Commercial Loan [Member] | ||
Fair Value Measurements Sales Comparison Range | 5.00% | |
Commercial Real Estate [Member] | Maximum [Member] | Commercial Loan [Member] | ||
Fair Value Measurements Sales Comparison Range | 40.00% | |
Fair Value, Measurements, Nonrecurring [Member] | Commercial Real Estate [Member] | ||
Impaired Loans Fair Value Disclosure | $ 219 | |
Fair Value Measurements, Valuation Techniques | Sales comparison | |
Fair Value Measurements, Changes in Valuation Techniques | Adjustment to appraised value | |
Fair Value, Measurements, Nonrecurring [Member] | Commercial Loan [Member] | ||
Impaired Loans Fair Value Disclosure | $ 172 | $ 222 |
Fair Value Measurements, Valuation Techniques | Sales comparison | Sales comparison |
Fair Value Measurements, Changes in Valuation Techniques | Adjustment to comparable sales | Adjustment to comparable sales |
Fair Value, Measurements, Nonrecurring [Member] | Agriculture Loans [Member] | ||
Impaired Loans Fair Value Disclosure | $ 286 | $ 645 |
Fair Value Measurements, Valuation Techniques | Sales comparison | Sales comparison |
Fair Value Measurements, Changes in Valuation Techniques | Adjustment to appraised value | Adjustment to appraised value |
Fair Value, Measurements, Nonrecurring [Member] | One-To-Four Family Residential Real Estate [Member] | ||
Impaired Loans Fair Value Disclosure | $ 142 | |
Real Estate Owned Fair Value Disclosure | $ 149 | |
Fair Value Measurements, Valuation Techniques | Sales comparison | Sales comparison |
Fair Value Measurements, Changes in Valuation Techniques | Adjustment to comparable sales | Adjustment to appraised value |
Fair Value Measurements Sales Comparison Range | 10.00% | 10.00% |
Fair Value, Measurements, Nonrecurring [Member] | Minimum [Member] | Commercial Real Estate [Member] | ||
Fair Value Measurements Sales Comparison Range | 2.00% | |
Fair Value, Measurements, Nonrecurring [Member] | Minimum [Member] | Commercial Loan [Member] | ||
Fair Value Measurements Sales Comparison Range | 15.00% | 7.00% |
Fair Value, Measurements, Nonrecurring [Member] | Minimum [Member] | Agriculture Loans [Member] | ||
Fair Value Measurements Sales Comparison Range | 10.00% | 8.00% |
Fair Value, Measurements, Nonrecurring [Member] | Maximum [Member] | Commercial Real Estate [Member] | ||
Fair Value Measurements Sales Comparison Range | 15.00% | |
Fair Value, Measurements, Nonrecurring [Member] | Maximum [Member] | Commercial Loan [Member] | ||
Fair Value Measurements Sales Comparison Range | 20.00% | 80.00% |
Fair Value, Measurements, Nonrecurring [Member] | Maximum [Member] | Agriculture Loans [Member] | ||
Fair Value Measurements Sales Comparison Range | 25.00% | 80.00% |
Fair Value, Measurements, Nonrecurring [Member] | One-To-Four Family Residential Real Estate [Member] | ||
Impaired Loans Fair Value Disclosure | $ 20 | |
Fair Value Measurements, Valuation Techniques | Sales comparison | |
Fair Value Measurements, Changes in Valuation Techniques | Adjustment to appraised value | |
Fair Value, Measurements, Nonrecurring [Member] | Construction and Land [Member] | ||
Impaired Loans Fair Value Disclosure | $ 162 | |
Fair Value Measurements, Valuation Techniques | Sales comparison | |
Fair Value Measurements, Changes in Valuation Techniques | Adjustment to appraised value | |
Fair Value, Measurements, Nonrecurring [Member] | Commercial Real Estate [Member] | ||
Impaired Loans Fair Value Disclosure | $ 7 | |
Fair Value Measurements, Valuation Techniques | Sales comparison | |
Fair Value Measurements, Changes in Valuation Techniques | Adjustment to appraised value |
Regulatory Capital Requiremen55
Regulatory Capital Requirements (Details Narrative) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2017 | Dec. 31, 2016 | ||
Regulatory Capital Requirements [Line Items] | |||
Assets, total | $ 930,129 | $ 911,382 | |
Common equity tier one risk based capital required for capital adequacy to risk weighted assets | 4.50% | ||
Tier one risk based capital required for capital adequacy to risk weighted assets | 6.00% | ||
Capital required for capital adequacy to risk weighted assets | 8.00% | ||
Tier one leverage capital required for capital adequacy to average assets | 4.00% | ||
Companys Regulatory Capital Requirements [Member] | |||
Regulatory Capital Requirements [Line Items] | |||
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% |
Capital required for capital adequacy to risk weighted assets | [1] | 9.30% | 8.60% |
Tier one leverage capital required for capital adequacy to average assets | [1] | 4.00% | 4.00% |
Tier one capital conversation buffer | 1.25% | 0.625% | |
Banks Regulatory Capital Requirements [Member] | |||
Regulatory Capital Requirements [Line Items] | |||
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% |
Capital required for capital adequacy to risk weighted assets | 9.30% | 8.60% | |
Tier one leverage capital required for capital adequacy to average assets | [1] | 4.00% | 4.00% |
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] | January 1, 2019 [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 September 30, 2017 and 0.625% for December 31, 2016. |
Regulatory Capital Requiremen56
Regulatory Capital Requirements - Schedule of Compliance with Regulatory Capital Requirements for Mortgage Companies (Details) - USD ($) $ in Thousands | Sep. 30, 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 | $ 87,030 | $ 88,819 | |
Common Equity Tier 1 Capital - Actual Amount | 66,634 | 68,263 | |
Tier 1 Capital - Actual Amount | 87,030 | 88,819 | |
Total Risk Based Capital - Actual Amount | $ 92,622 | $ 94,596 | |
Leverage - Actual Ratio | 9.71% | 10.04% | |
Common Equity Tier 1 Capital - Actual Ratio | 12.62% | 13.32% | |
Tier 1 Capital - Actual Ratio | 16.48% | 17.33% | |
Total Risk Based Capital - Actual Ratio | 17.54% | 18.46% | |
Leverage - For capital adequacy purposes Amount | $ 35,851 | $ 35,370 | |
Common Equity Tier 1 Capital - For capital adequacy purposes Amount | 30,371 | 26,265 | |
Tier 1 Capital - For capital adequacy purposes Amount | 38,294 | 33,952 | |
Total Risk Based Capital - For capital adequacy purposes Amount | $ 48,858 | $ 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 September 30, 2017 and 0.625% for December 31, 2016. |
Regulatory Capital Requiremen57
Regulatory Capital Requirements - Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations (Details) - USD ($) $ in Thousands | Sep. 30, 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 | $ 85,800 | $ 88,076 | |
Common Equity Tier 1 Capital - Actual Amount | 85,800 | 88,076 | |
Tier 1 Capital - Actual Amount | 85,800 | 88,076 | |
Total Risk Based Capital - Actual Amount | $ 91,319 | $ 93,560 | |
Leverage - Actual Ratio | 9.58% | 9.98% | |
Common Equity Tier 1 Capital - Actual Ratio | 16.27% | 17.23% | |
Tier 1 Capital - Actual Ratio | 16.27% | 17.23% | |
Total Risk Based Capital - Actual Ratio | 17.31% | 18.31% | |
Leverage - For capital adequacy purposes Amount | $ 35,821 | $ 35,284 | |
Common Equity Tier 1 Capital - For capital adequacy purposes Amount | 30,326 | 26,194 | |
Tier 1 Capital - For capital adequacy purposes Amount | 38,237 | 33,861 | |
Total Risk Based Capital - For capital adequacy purposes Amount | $ 48,785 | $ 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 | 9.30% | 8.60% | |
Leverage - To be well-capitalized under prompt corrective action provisions Amount | $ 44,777 | $ 44,105 | |
Common Equity Tier 1 Capital - To be well-capitalized under prompt corrective action provisions Amount | 34,281 | 33,222 | |
Tier 1 Capital - To be well-capitalized under prompt corrective action provisions Amount | 42,192 | 40,888 | |
Total Risk Based Capital - To be well-capitalized under prompt corrective action provisions Amount | $ 52,740 | $ 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 September 30, 2017 and 0.625% for December 31, 2016. |
Impact of Recent Accounting P58
Impact of Recent Accounting Pronouncements (Details Narrative) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | Dec. 31, 2016 | |
Accounting Standards Update 2016-09 [Member] | |||
Employee service share-based compensation, tax benefit realized from exercise of stock options | $ 24 | $ 259 | $ 308 |
Deposit-Related Loss (Details N
Deposit-Related Loss (Details Narrative) $ in Thousands | Aug. 08, 2017USD ($) |
Overdraft balance amount | $ 8,100 |
Third Quarter of 2017 [Member] | |
Collection amount privided | 2,200 |
Third Party [Member] | |
Overdraft balance amount | $ 10,300 |