Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2018 | Jul. 30, 2018 | |
Document Information [Line Items] | ||
Entity Registrant Name | OLD LINE BANCSHARES INC | |
Entity Central Index Key | 1,253,317 | |
Trading Symbol | olbk | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Well-known Seasoned Issuer | No | |
Entity Common Stock, Shares Outstanding (in shares) | 16,988,883 | |
Document Type | 10-Q | |
Document Period End Date | Jun. 30, 2018 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q2 | |
Amendment Flag | false |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Jun. 30, 2018 | Dec. 31, 2017 |
Assets | ||
Cash and due from banks | $ 61,684,888 | $ 33,562,652 |
Interest bearing accounts | 3,845,419 | 1,354,870 |
Federal funds sold | 928,337 | 256,589 |
Total cash and cash equivalents | 66,458,644 | 35,174,111 |
Investment securities available for sale-at fair value | 209,941,534 | 218,352,558 |
Loans held for sale, fair value of $34,363,686 and $4,557,722 | 34,037,532 | 4,404,294 |
Loans held for investment (net of allowance for loan losses of $6,704,577 and $5,920,586, respectively) | 2,347,821,496 | 1,696,361,431 |
Equity securities at cost | 14,854,746 | 8,977,747 |
Premises and equipment | 43,719,013 | 41,173,810 |
Accrued interest receivable | 7,715,123 | 5,476,230 |
Deferred income taxes | 10,978,998 | 7,317,096 |
Bank owned life insurance | 67,062,920 | 41,612,496 |
Annuity Plan | 6,276,320 | 5,981,809 |
Other real estate owned | 2,357,947 | 2,003,998 |
Goodwill | 94,403,635 | 25,083,675 |
Core deposit intangible | 16,688,635 | 6,297,970 |
Other assets | 11,059,118 | 7,396,227 |
Total assets | 2,933,375,661 | 2,105,613,452 |
Deposits | ||
Non-interest bearing | 603,257,708 | 451,803,052 |
Interest bearing | 1,604,420,214 | 1,201,100,317 |
Total deposits | 2,207,677,922 | 1,652,903,369 |
Short term borrowings | 314,676,164 | 192,611,971 |
Long term borrowings | 38,238,670 | 38,106,930 |
Accrued interest payable | 1,827,605 | 1,471,954 |
Supplemental executive retirement plan | 6,057,063 | 5,893,255 |
Income taxes payable | 2,157,375 | |
Other liabilities | 10,553,800 | 4,741,412 |
Total liabilities | 2,579,031,224 | 1,897,886,266 |
Stockholders’ equity | ||
Common stock, par value $0.01 per share; 25,000,000 shares authorized; 16,988,883 and 12,508,332 shares issued and outstanding in 2018 and 2017, respectively | 169,889 | 125,083 |
Additional paid-in capital | 292,836,679 | 148,882,865 |
Retained earnings | 67,601,752 | 61,054,487 |
Accumulated other comprehensive loss | (6,263,883) | (2,335,249) |
Total stockholders’ equity | 354,344,437 | 207,727,186 |
Total liabilities and stockholders’ equity | $ 2,933,375,661 | $ 2,105,613,452 |
Consolidated Balance Sheets (C3
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) | Jun. 30, 2018 | Dec. 31, 2017 |
Loans held for sale, fair value | $ 34,363,686 | $ 4,557,722 |
Loans held for investment, allowance for loan losses | $ 6,704,577 | $ 5,920,586 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 25,000,000 | 25,000,000 |
Common stock, shares issued (in shares) | 16,988,883 | 12,508,332 |
Common stock, shares outstanding (in shares) | 16,988,883 | 12,508,332 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Interest Income | ||||
Loans, including fees | $ 26,448,727 | $ 15,765,250 | $ 46,149,489 | $ 31,130,904 |
U.S. treasury securities | 16,599 | 6,847 | 26,628 | 11,914 |
U.S. government agency securities | 91,410 | 67,333 | 172,952 | 115,837 |
Corporate bonds | 221,116 | 121,042 | 421,585 | 238,878 |
Mortgage backed securities | 551,897 | 554,411 | 1,126,915 | 1,108,840 |
Municipal securities | 499,343 | 410,801 | 999,963 | 846,355 |
Federal funds sold | 2,861 | 971 | 3,526 | 1,583 |
Other | 336,765 | 127,116 | 591,999 | 234,794 |
Total interest income | 28,168,718 | 17,053,771 | 49,493,057 | 33,689,105 |
Interest expense | ||||
Deposits | 3,146,235 | 1,706,993 | 5,452,968 | 3,248,050 |
Borrowed funds | 1,714,250 | 1,094,133 | 3,049,081 | 2,027,021 |
Total interest expense | 4,860,485 | 2,801,126 | 8,502,049 | 5,275,071 |
Net interest income | 23,308,233 | 14,252,645 | 40,991,008 | 28,414,034 |
Provision for loan losses | 532,257 | 278,916 | 927,153 | 719,407 |
Net interest income after provision for loan losses | 22,775,976 | 13,973,729 | 40,063,855 | 27,694,627 |
Non-interest income | ||||
Gain on sales or calls of investment securities | 19,581 | 35,258 | ||
Earnings on bank owned life insurance | 461,056 | 282,100 | 753,992 | 563,456 |
Gain on disposal of assets | 14,366 | 112,594 | ||
Loss on sale of stock | (60,998) | (60,998) | ||
Gain on sale of loans | 94,714 | 94,714 | ||
Rental income | 199,050 | 169,862 | 397,494 | 310,455 |
Income on marketable loans | 511,879 | 726,647 | 930,351 | 1,357,577 |
Total non-interest income | 3,188,051 | 1,995,619 | 4,983,072 | 3,850,353 |
Non-interest expense | ||||
Salaries and benefits | 7,201,335 | 5,050,635 | 12,686,785 | 9,918,166 |
Occupancy and equipment | 2,242,641 | 1,655,270 | 4,223,042 | 3,308,683 |
Data processing | 702,182 | 361,546 | 1,311,821 | 718,194 |
FDIC insurance and State of Maryland assessments | 320,326 | 256,513 | 508,397 | 518,113 |
Merger and integration | 7,121,802 | 7,121,802 | ||
Core deposit premium amortization | 540,736 | 181,357 | 853,049 | 379,258 |
Loss (gain) on sales of other real estate owned | 41,956 | 54,472 | (17,689) | |
OREO expense | 27,995 | 27,634 | 212,989 | 55,211 |
Directors fees | 196,650 | 159,700 | 367,200 | 336,900 |
Network services | 95,607 | 164,232 | 174,812 | 303,839 |
Other operating | 2,333,694 | 1,886,405 | 4,098,090 | 3,560,605 |
Total non-interest expense | 21,077,406 | 9,929,451 | 32,069,365 | 19,461,581 |
Income before income taxes | 4,886,621 | 6,039,897 | 12,977,562 | 12,083,399 |
Income tax expense | 2,160,788 | 2,070,488 | 4,186,547 | 4,140,208 |
Net income available to common stockholders | $ 2,725,833 | $ 3,969,409 | $ 8,791,015 | $ 7,943,191 |
Basic earnings per common share (in dollars per share) | $ 0.17 | $ 0.36 | $ 0.61 | $ 0.73 |
Diluted earnings per common share (in dollars per share) | 0.17 | 0.36 | 0.60 | 0.71 |
Dividend per common share (in dollars per share) | $ 0.10 | $ 0.08 | $ 0.18 | $ 0.16 |
Deposit Account [Member] | ||||
Non-interest income | ||||
Non-interest income | $ 722,879 | $ 434,272 | $ 1,299,463 | $ 846,431 |
Point of Sale Sponsorship Program [Member] | ||||
Non-interest income | ||||
Non-interest income | 673,502 | 673,502 | ||
Financial Service, Other [Member] | ||||
Non-interest income | ||||
Non-interest income | 680,683 | 268,443 | 974,902 | 529,868 |
Public Utilities [Member] | ||||
Non-interest expense | ||||
Telephone | $ 252,482 | $ 186,159 | $ 456,906 | $ 380,301 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Net income | $ 2,725,833 | $ 3,969,409 | $ 8,791,015 | $ 7,943,191 |
Other comprehensive income: | ||||
Unrealized gain/(loss) on securities available for sale, net of taxes | (265,351) | 2,472,861 | (3,468,661) | 3,570,588 |
Reclassification adjustment for realized gain on securities available for sale included in net income, net of taxes | (11,857) | (21,350) | ||
Other comprehensive income (loss) | (265,351) | 2,461,004 | (3,468,661) | 3,549,238 |
Comprehensive income | 2,460,482 | 6,430,413 | 5,322,354 | 11,492,429 |
Net income | $ 2,725,833 | $ 3,969,409 | $ 8,791,015 | $ 7,943,191 |
Consolidated Statements of Com6
Consolidated Statements of Comprehensive Income (Loss) (Unaudited) (Parentheticals) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Unrealized gain (loss) on securities available for sale, taxes | $ 100,738 | $ (1,610,802) | $ (1,316,854) | $ 2,325,851 |
Unrealized gain (loss) on securities available for sale, taxes | (100,738) | 1,610,802 | 1,316,854 | (2,325,851) |
Reclassification adjustment for realized gain on securities available for sale included in net income, taxes | $ 0 | $ 7,724 | $ 0 | $ 13,908 |
Consolidated Statement of Chang
Consolidated Statement of Changes in Stockholders' Equity (Unaudited) - 6 months ended Jun. 30, 2018 - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balance (in shares) at Dec. 31, 2017 | 12,508,332 | 12,508,332 | |||
Balance at Dec. 31, 2017 | $ 125,083 | $ 148,882,865 | $ 61,054,487 | $ (2,335,249) | $ 207,727,186 |
Net income attributable to Old Line Bancshares, Inc. | 8,791,015 | 8,791,015 | |||
Other comprehensive loss, net of income tax of $1,316,854 | (3,468,661) | (3,468,661) | |||
Reclassification of stranded tax effect resulting from the Tax Cuts and Jobs Act | 459,973 | (459,973) | |||
Acquisition of Bay Bancshares, Inc. (in shares) | 4,408,087 | ||||
Acquisition of Bay Bancshares, Inc. | $ 44,081 | 142,601,614 | 142,645,695 | ||
Stock based compensation awards | 569,310 | 569,310 | |||
Stock options exercised (in shares) | 53,021 | ||||
Stock options exercised | $ 530 | 783,085 | 783,615 | ||
Restricted stock issued (in shares) | 19,443 | ||||
Restricted stock issued | $ 195 | (195) | |||
Common stock cash dividends $0.18 per share | (2,703,723) | $ (2,703,723) | |||
Balance (in shares) at Jun. 30, 2018 | 16,988,883 | 16,988,883 | |||
Balance at Jun. 30, 2018 | $ 169,889 | $ 292,836,679 | $ 67,601,752 | $ (6,263,883) | $ 354,344,437 |
Consolidated Statement of Chan8
Consolidated Statement of Changes in Stockholders' Equity (Unaudited) (Parentheticals) | 6 Months Ended |
Jun. 30, 2018USD ($)$ / shares | |
AOCI Attributable to Parent [Member] | |
Other comprehensive income, tax | $ | $ 1,316,854 |
Retained Earnings [Member] | |
Dividends per common share (in dollars per share) | $ / shares | $ 0.18 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Cash flows from operating activities | ||
Net income | $ 8,791,015 | $ 7,943,191 |
Adjustments to reconcile net income to net cash provided by operating activities | ||
Depreciation and amortization | 1,533,864 | 1,221,445 |
Provision for loan losses | 927,153 | 719,407 |
Change in deferred loan fees net of costs | (350,424) | (75,162) |
Gain on sales or calls of securities | (35,258) | |
Amortization of premiums and discounts | 422,136 | 510,194 |
Origination of loans held for sale | (48,030,581) | (51,745,329) |
Proceeds from sale of loans held for sale | 40,040,635 | 53,548,556 |
Loss on sales of stock | 60,998 | |
Income on marketable loans | (930,351) | (1,357,577) |
Loss (gain) on sales of other real estate owned | 54,472 | (17,689) |
Gain (loss) on the sale of loans | (94,714) | |
Gain on sale of fixed assets | (14,366) | (112,594) |
Amortization of intangible assets | 853,049 | 379,259 |
Deferred income taxes | 292,620 | (56,718) |
Stock based compensation awards | 569,310 | 262,031 |
Increase (decrease) in | ||
Accrued interest payable | 355,651 | 71,235 |
Income tax payable | (2,157,375) | 1,338,453 |
Supplemental executive retirement plan | 163,808 | 139,728 |
Other liabilities | 127,504 | (660,391) |
Decrease (increase) in | ||
Accrued interest receivable | (524,839) | 133,426 |
Bank owned life insurance | (631,226) | (468,416) |
LINQS | (294,511) | |
Income tax receivable | 428,874 | |
Other assets | (764,970) | 985,294 |
Net cash (used in) provided by operating activities | 922,447 | 12,628,371 |
Cash flows from investing activities | ||
Cash and cash equivalents of acquired bank | 21,617,610 | |
Purchase of investment securities available for sale | (8,139,803) | (21,167,506) |
Available for sale at maturity, call or paydowns | 7,193,758 | 14,686,479 |
Available for sale sold | 56,045,175 | 13,000,024 |
Loans made, net of principal collected | (126,594,746) | (85,012,845) |
Purchase of bank owned life insurance | (8,500,000) | |
Proceeds from sale of other real estate owned | 632,658 | 290,644 |
Change in equity securities | (3,537,299) | (1,669,397) |
Purchase of premises and equipment | (951,104) | (2,520,774) |
Proceeds from the sale of premises and equipment | 14,366 | 112,594 |
Net cash used in investing activities | (62,219,385) | (82,280,781) |
Cash flows from financing activities | ||
Time deposits | 160,427,035 | 15,239,072 |
Other deposits | (147,021,389) | 38,309,413 |
Short term borrowings | 80,964,193 | 20,347,416 |
Long term borrowings | 131,740 | 131,741 |
Proceeds from stock options exercised | 783,615 | 378,679 |
Cash dividends paid-common stock | (2,703,722) | (1,752,500) |
Net cash provided by financing activities | 92,581,471 | 72,653,821 |
Net increase in cash and cash equivalents | 31,284,533 | 3,001,411 |
Cash and cash equivalents at beginning of period | 35,174,111 | 23,463,171 |
Cash and cash equivalents at end of period | 66,458,644 | 26,464,582 |
Supplemental Disclosure of Cash Flow Information: | ||
Interest | 8,146,398 | 4,716,692 |
Income taxes | 2,705,000 | 2,728,000 |
Loans transferred to other real estate owned | 1,041,079 | 422,848 |
Loans transferred to available for sale - BYBK acquisition | 21,643,292 | |
Fair value of tangible assets acquired | 720,529,154 | 310,974,425 |
Other intangible assets acquired | 11,243,714 | 15,297,318 |
Fair value of liabilities assumed | (588,153,791) | (285,421,333) |
Total merger consideration | $ 143,619,077 | $ 40,850,410 |
Note 1 - Summary of Significant
Note 1 - Summary of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block] | 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Organization and Description of Business - April 11, 2003 Basis of Presentation and Consolidation The foregoing consolidated financial statements for the periods ended June 30, 2018 2017 December 31, 2017 10 December 31, 2017. no 10 Use of Estimates may Revenue from Contracts with Customers 606, 606” 606, not Our primary sources of revenue are derived from interest and dividends earned on loans, investment securities, and other financial instruments that are not 606. not 606 Reclassifications 2017 2018 not Recent Accounting Pronouncements May 2014, 2014 09 – Revenue from Contracts with Customers not January 1, 2018, not In January 2016, No. 2016 01 , Financial Instruments – Recognition and Measurement of Financial Assets and Liabilities, not December 15, 2017, January 1, 2018. no first 2018, not In February 2016, 2016 02 , Leases (Topic 842 December 15, 2018. first 2019. In June 2016, 2016 13 , Financial Instruments – Credit Losses (Topic 326 December 15, 2019, third 2016 13. 2016 13 2016 13 No. 2016 13 In August 2016, 2016 15 , Statement of Cash Flows (Topic 230 Classification of Certain Cash Receipts and Cash Payments nine 1 2 zero 3 4 5 6 7 8 9 January 1, 2018 January 1, 2018, not not In January 2017, 2017 01, Business Combinations (Topic 805 Clarifying the definition of a business not January 1, 2018. not In January 2017, 2017 04, Simplifying the Test for Goodwill Impairment, 2 not December 15, 2019. January 1, 2017. not 2017 04 In March 2017, No. 2017 08, Premium Amortization on Purchased Callable Debt Securities not No. 2017 08 December 15, 2018; first not In August 2017, No. 2017 12, Targeted Improvements to Accounting for Hedging Activities 1 2 No. 2017 12 December 15, 2018; not not In February 2018, No. 2018 02, 220 35% 21%. 2018 02 December 15, 2018 2018 02 first 2018. $459,973 first 2018. |
Note 2 - Acquisition of Bay Ban
Note 2 - Acquisition of Bay Bancorp, Inc. | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | 2. ACQUISITION OF BAY BANCORP, INC. On April 13, 2018, 0.4088 4,408,087 $143.6 April 13, 2018. In connection with the merger, Bay Bank merged with and into Old Line Bank, with Old Line Bank the surviving bank. At April 13, 2018, $663 eleven The BYBK transaction was accounted for using the acquisition method of accounting and, accordingly, assets acquired, liabilities assumed and consideration exchanged were recorded at estimated fair value on the acquisition date. Management made significant estimates and exercised significant judgment in accounting for the acquisition of BYBK. Management judgmentally assigned risk ratings to loans based on appraisals and estimated collateral values, expected cash flows, prepayment speeds and estimated loss factors to measure fair value for loans. Management used quoted or current market prices to determine the fair value of BYBK’s investment securities. Fair values are preliminary and subject to refinement for up to a year after the closing date of the acquisition for new information obtained about facts and circumstances that existed at the acquisition date. The following table provides the purchase price as of the acquisition date and the identifiable assets acquired and liabilities assumed at their estimated fair values. Purchase Price Consideration Cash consideration $ 973,383 Purchase price assigned to shares exchanged for stock 142,645,695 Total purchase price for BYBK acquisition 143,619,078 Fair Value of Assets Acquired Cash and due from banks $ 22,590,994 Investment securities 51,895,757 Restricted equity securities, at cost 2,339,700 Loans, net 546,215,988 Premises and equipment 3,127,963 Accrued interest receivable 1,714,054 Accrued taxes receivable 1,912,807 Deferred income taxes 2,637,668 Bank owned life insurance 16,319,198 Other real estate owned 1,041,079 Core deposit intangible 11,243,714 Other assets 1,413,987 Total assets acquired $ 662,452,909 Fair Value of Liabilities assumed Deposits $ 541,368,907 Short term borrowings 41,100,000 Other liabilities 5,684,884 Total liabilities assumed $ 588,153,791 Fair Value of net assets acquired 74,299,118 Total Purchase Price 143,619,078 Goodwill recorded for BYBK $ 69,319,960 Comparative and Pro Forma Financial Information for the BYBK Acquisition The adjusted result of the Company for the periods ended June 30, 2018, April 13, 2018. $7.1 three six June 30, 2018; The following table discloses the impact of the merger wth BYBK (excluding the impact of the merger-related expenses) for the three six June 30, 2018. January 1, 2018. not January 1, 2018. Merger-related expenses of $7.1 three six June 30, 2018 no three six June 30, 2018 $300 No three six June 30, 2018. third 2018 not Actual adjusted Pro Forma Actual adjusted Pro Forma Three months ended Three months ended Six months ended Six months ended Total revenues (net interest income plus noninterest income) $ 27,473 $ 24,269 $ 54,937 $ 47,774 Net adjusted income available to common stockholder $ 9,075 $ 5,175 $ 16,565 $ 10,086 |
Note 3 - Investment Securities
Note 3 - Investment Securities | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | 3. INVESTMENT SECURITIES Presented below is a summary of the amortized cost and estimated fair value of securities. Amortized Gross Gross Estimated June 30, 2018 Available for sale U.S. treasury $ 3,009,331 $ — $ (11,206 ) $ 2,998,125 U.S. government agency 18,979,460 — (632,196 ) 18,347,264 Corporate bonds 18,118,611 97,514 (18,746 ) 18,197,379 Municipal securities 79,806,457 27,034 (2,811,688 ) 77,021,803 Mortgage backed securities: FHLMC certificates 18,625,051 1,161 (1,051,132 ) 17,575,080 FNMA certificates 60,025,658 — (3,239,521 ) 56,786,137 GNMA certificates 20,018,892 — (1,003,146 ) 19,015,746 Total available for sale securities $ 218,583,460 $ 125,709 $ (8,767,635 ) $ 209,941,534 December 31, 2017 Available for sale U.S. treasury $ 3,007,728 $ — $ (2,337 ) $ 3,005,391 U.S. government agency 18,001,200 — (267,434 ) 17,733,766 Corporate bonds 14,621,378 144,574 (107,893 ) 14,658,059 Municipal securities 80,791,431 126,566 (1,362,709 ) 79,555,288 Mortgage backed securities FHLMC certificates 19,907,299 2,516 (455,580 ) 19,454,235 FNMA certificates 64,476,038 — (1,530,121 ) 62,945,917 GNMA certificates 21,403,894 — (403,992 ) 20,999,902 Total available for sale securities $ 222,208,968 $ 273,656 $ (4,130,066 ) $ 218,352,558 At June 30, 2018 December 31, 2017, June 30, 2018 Less than 12 months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized U.S. treasury $ 2,998,125 $ 11,206 $ — $ — $ 2,998,125 $ 11,206 U.S. government agency 6,092,356 192,649 12,254,908 439,547 18,347,264 632,196 Corporate bonds 3,481,254 18,746 — — 3,481,254 18,746 Municipal securities 35,446,399 929,662 31,628,806 1,882,026 67,075,205 2,811,688 Mortgage backed securities FHLMC certificates — — 17,477,773 1,051,132 17,477,773 1,051,132 FNMA certificates 2,339,754 95,229 54,446,383 3,144,292 56,786,137 3,239,521 GNMA certificates 8,279,439 394,765 10,736,306 608,381 19,015,746 1,003,146 Total $ 58,637,327 $ 1,642,257 $ 126,544,176 $ 7,125,378 $ 185,181,504 $ 8,767,635 December 31, 2017 Less than 12 months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized U.S. treasury $ 1,506,328 $ 1,422 $ 1,499,063 $ 915 $ 3,005,391 $ 2,337 U.S. government agency 12,266,502 93,043 5,467,264 174,391 17,733,766 267,434 Corporate bonds 9,407,810 107,893 — — 9,407,810 107,893 Municipal securities 25,548,751 189,668 31,343,394 1,173,041 56,892,145 1,362,709 Mortgage backed securities FHLMC certificates — — 19,314,957 455,580 19,314,957 455,580 FNMA certificates 2,516,080 19,937 60,429,837 1,510,184 62,945,917 1,530,121 GNMA certificates 8,822,021 114,278 12,177,882 289,714 20,999,904 403,992 Total $ 60,067,492 $ 526,241 $ 130,232,397 $ 3,603,825 $ 190,299,890 $ 4,130,066 At June 30, 2018 December 31, 2017, 120 56 12 75 56 12 June 30, 2018 June 30, 2018, not not not not not During the three June 30, 2018, $57.0 $55.8 $51.7 no three June 30, 2017, $19.3 $148 $129 $20 For the six June 30, 2018, $63.2 three $51.7 no six June 30, 2017, $27.7 $164 $129 $35 Contractual maturities and pledged securities at June 30, 2018 may Available for Sale June 30, 2018 Amortized Fair Maturing Within one year $ 4,091,416 $ 4,081,040 Over one to five years 4,800,322 4,774,281 Over five to ten years 57,310,148 55,765,738 Over ten years 152,381,574 145,320,475 Total $ 218,583,460 $ 209,941,534 Pledged securities $ 68,010,493 $ 64,632,017 |
Note 4 - Loans
Note 4 - Loans | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | 4. LOANS Major classifications of loans held for investment are as follows: June 30, 2018 December 31, 2017 Legacy (1) Acquired Total Legacy (1) Acquired Total Commercial Real Estate Owner Occupied $ 270,562,704 $ 157,411,814 $ 427,974,518 $ 268,128,087 $ 87,658,855 $ 355,786,942 Investment 590,644,980 205,379,793 796,024,773 485,536,921 52,926,739 538,463,660 Hospitality 161,865,109 7,232,455 169,097,564 164,193,228 7,395,186 171,588,414 Land and A&D 67,568,009 27,682,812 95,250,821 67,310,660 9,230,771 76,541,431 Residential Real Estate First Lien-Investment 82,241,881 53,689,412 135,931,293 79,762,682 21,220,518 100,983,200 First Lien-Owner Occupied 83,951,550 145,703,436 229,654,986 67,237,699 62,524,794 129,762,493 Residential Land and A&D 42,156,325 21,601,505 63,757,830 35,879,853 6,536,160 42,416,013 HELOC and Jr. Liens 21,917,531 45,338,669 67,256,200 21,520,339 16,019,418 37,539,757 Commercial and Industrial 205,131,858 102,538,173 307,670,031 154,244,645 33,100,688 187,345,333 Consumer 17,073,513 42,470,686 59,544,199 10,758,589 49,082,751 59,841,340 Total loans 1,543,113,460 809,048,755 2,352,162,215 1,354,572,703 345,695,880 1,700,268,583 Allowance for loan losses (6,444,307 ) (260,270 ) (6,704,577 ) (5,738,534 ) (182,052 ) (5,920,586 ) Deferred loan costs, net 2,363,858 — 2,363,858 2,013,434 — 2,013,434 Net loans $ 1,539,033,011 $ 808,788,485 $ 2,347,821,496 $ 1,350,847,603 $ 345,513,828 $ 1,696,361,431 _______________________ ( 1 As a result of the acquisitions of Maryland Bankcorp, Inc. (“Maryland Bankcorp”), the parent company of Maryland Bank & Trust Company, N.A. (“MB&T”), in April 2011, May 2013, December 2015, July 2017 April 2018, two Credit Policies and Administration We have adopted a comprehensive lending policy, which includes stringent underwriting standards for all types of loans. We have designed our underwriting standards to promote a complete banking relationship rather than a transactional relationship. Our lending staff follows pricing guidelines established periodically by our management team. In an effort to manage risk, prior to funding, the loan committee, consisting of four four In addition to the internal business processes employed in the credit administration area, Old Line Bank retains an outside independent firm to review the loan portfolio. This firm performs a detailed annual review and an interim update. We use the results of the firm’s report to validate our internal ratings and we review the commentary on specific loans and on our loan administration activities in order to improve our operations. Commercial Real Estate Loans We finance commercial real estate for our clients, for owner occupied and investment properties, hospitality and land acquisition and development. Commercial real estate loans totaled $1.5 $1.1 June 30, 2018 December 31, 2017, may may one four not 80% 75%. Commercial real estate lending entails significant risks. Risks inherent in managing our commercial real estate portfolio relate to sudden or gradual drops in property values as well as changes in the economic climate that may At June 30, 2018, $169.1 Residential Real Estate Loans We offer a variety of consumer oriented residential real estate loans including home equity lines of credit, home improvement loans and first second $496.6 $310.7 June 30, 2018 December 31, 2017, not 85%. may not 43%, 640 not This segment of our portfolio also consists of funds advanced for construction of custom single family residences homes (where the home buyer is the borrower) and financing to builders for the construction of pre-sold homes and multi-family housing. These loans generally have short durations, meaning maturities typically of twelve twelve Construction lending also entails significant risk. These risks generally involve larger loan balances concentrated with single borrowers with funds advanced upon the security of the land or the project under construction. An appraisal of the property estimates the value of the project “as is and as if” completed. An appraisal of the property estimates the value of the project prior to completion of construction. Thus, initial funds are advanced based on the current value of the property with the remaining construction funds advanced under a budget sufficient to successfully complete the project within the “as completed” loan to value. To further mitigate the risks, we generally limit loan amounts to 80% first We generally only offer real estate construction financing only to experienced builders, commercial entities or individuals who have demonstrated the ability to obtain a permanent loan “take-out” (conversion to a permanent mortgage upon completion of the project). We also perform a complete analysis of the borrower and the project under construction. This analysis includes a review of the cost to construct, the borrower’s ability to obtain a permanent “take-out” the cash flow available to support the debt payments and construction costs in excess of loan proceeds, and the value of the collateral. During construction, we advance funds on these loans on a percentage of completion basis. We inspect each project as needed prior to advancing funds during the term of the construction loan. We may We also offer fixed rate home improvement loans. Our home equity and home improvement loan portfolio gives us a diverse client base. Although most of these loans are in our market area, the diversity of the individual loans in the portfolio reduces our potential risk. Usually, we secure our home equity loans and lines of credit with a security interest in the borrower’s primary or secondary residence. Under our loan approval policy, all residential real estate loans approved must comply with federal regulations. Generally, we will make residential mortgage loans in amounts up to the limits established by Fannie Mae and Freddie Mac for secondary market resale purposes. Currently this amount for single-family residential loans currently varies from $453,100 $679,650 $679,650. 620 Commercial and Industrial Lending Our commercial and industrial lending consists of lines of credit, revolving credit facilities, accounts receivable financing, term loans, equipment loans, Small Business Administration loans, standby letters of credit and unsecured loans. We originate commercial loans for any business purpose including the financing of leasehold improvements and equipment, the carrying of accounts receivable, general working capital, and acquisition activities. We have a diverse client base and we do not Commercial business loans have a higher degree of risk than residential mortgage loans because the availability of funds for repayment generally depends on the success of the business. They may $250,000, Consumer Installment Lending We offer various types of secured and unsecured consumer loans. We make consumer loans for personal, family or household purposes as a convenience to our customer base. Consumer loans, however, are not not 40% Our consumer loan portfolio, includes indirect loans, which consists primarily of auto and RV loans. These loans are financed through dealers and the dealers receive a percentage of the finance charge, which varies depending on the terms of each loan. We use the same underwriting standards in originating these indirect loans as we do for consumer loans generally. Consumer loans may may not may not may Concentrations of Credit Most of our lending activity occurs within the state of Maryland within the suburban Washington, D.C. and Baltimore market areas in Anne Arundel, Baltimore, Baltimore City, Calvert, Carroll, Charles, Frederick, Harford, Howard, Montgomery, Prince George’s and St. Mary’s Counties. The majority of our loan portfolio consists of commercial real estate loans and residential real estate loans. Non-Accrual and Past Due Loans We consider loans past due if the borrower has not 90 no not not not The table below presents an age analysis of the loans held for investment portfolio at June 30, 2018 December 31, 2017. Age Analysis of Past Due Loans June 30, 2018 December 31, 2017 Legacy Acquired Total Legacy Acquired Total Current $ 1,537,628,464 $ 793,109,509 $ 2,330,737,973 $ 1,352,406,852 $ 338,913,557 $ 1,691,320,409 Accruing past due loans: 30-89 days past due Commercial Real Estate: Owner Occupied 2,703,169 1,308,590 4,011,759 — — — Investment 291,278 2,237,802 2,529,080 1,089,022 843,706 1,932,728 Land and A&D 678,870 3,583,409 4,262,279 254,925 158,899 413,824 Residential Real Estate: First Lien-Investment 181,994 735,393 917,387 270,822 506,600 777,422 First Lien-Owner Occupied 94,743 2,555,200 2,649,943 229 2,457,299 2,457,528 HELOC and Jr. Liens 192,937 1,442,954 1,635,891 — 130,556 130,556 Commercial and Industrial 333,010 749,793 1,082,803 51,088 261,081 312,169 Consumer 89,480 1,157,030 1,246,510 26,134 1,017,195 1,043,329 Total 30-89 days past due 4,565,481 13,770,171 18,335,652 1,692,220 5,375,336 7,067,556 90 or more days past due Residential Real Estate: First Lien-Owner Occupied — 247,102 247,102 — 37,560 37,560 Commercial 177,973 1,027 179,000 — — — Consumer — 112,459 112,459 — 78,407 78,407 Total 90 or more days past due 177,973 360,588 538,561 — 115,967 115,967 Total accruing past due loans 4,743,454 14,130,759 18,874,213 1,692,220 5,491,303 7,183,523 Commercial Real Estate: Owner Occupied — 231,425 231,425 — 228,555 228,555 Investment — — — — — — Hospitality — — — — — — Land and A&D 277,704 196,171 473,875 — 190,193 190,193 Residential Real Estate: First Lien-Investment 192,501 — 192,501 192,501 — 192,501 First Lien-Owner Occupied 271,337 1,308,934 1,580,271 281,130 872,272 1,153,402 Land and A&D — — — — — — Commercial and Industrial — 45,218 45,218 — — — Consumer — 26,739 26,739 — — — Non-accruing loans: 741,542 1,808,487 2,550,029 473,631 1,291,020 1,764,651 Total Loans $ 1,543,113,460 $ 809,048,755 $ 2,352,162,215 $ 1,354,572,703 $ 345,695,880 $ 1,700,268,583 We consider all nonperforming loans and troubled debt restructurings (“TDRs”) to be impaired. We do not June 30, 2018 December 31, 2017. Impaired Loans Three months June 30, 2018 Six months June 30, 2018 Unpaid Recorded Related Average Interest Average Interest Legacy With no related allowance recorded: Commercial Real Estate: Owner Occupied $ 1,767,387 $ 1,767,387 $ — $ 1,764,445 $ 18,682 1,779,111 $ 42,401 Investment 651,195 651,195 — 650,816 8,676 656,802 16,722 Land and A&D 277,704 277,704 — 277,704 — 277,704 — Residential Real Estate: First Lien-Investment 192,501 192,501 — 192,501 — 192,501 — First Lien-Owner Occupied 219,996 219,996 — 229,901 4,200 230,466 6,449 Commercial and Industrial 368,654 368,654 — 366,484 3,355 375,616 7,798 With an allowance recorded: Commercial Real Estate: Investment — — — — — — — Residential Real Estate: First Lien-Investment 1,065,222 1,065,222 39,420 1,063,646 14,968 1,072,506 34,438 First Lien-Owner Occupied 51,341 51,341 37,076 55,830 — 56,621 1,134 Commercial and Industrial 94,666 94,666 94,665 94,411 1,589 95,208 2,810 Total legacy impaired 4,688,666 4,688,666 171,161 4,695,738 51,470 4,736,535 111,752 Acquired(1) With no related allowance recorded: Commercial Real Estate: Owner Occupied 557,660 557,660 — 587,825 5,296 584,136 5,296 Investment 73,241 61,504 — 400,394 5,055 401,800 5,055 Land and A&D 243,329 106,780 — 349,089 — 349,809 — Residential Real Estate: First Lien-Owner Occupied 1,631,478 1,511,742 — 1,797,742 5,089 1,799,968 24,257 First Lien-Investment 273,737 169,020 — 391,762 12,323 392,100 12,323 Land and A&D 593,785 390,768 — 705,086 — 705,086 — Commercial 1,029,478 147,351 — 1,324,966 7,356 1,329,002 7,594 Consumer 216,332 32,926 — 577,107 — 587,365 242 With an allowance recorded: Commercial Real Estate: Land and A&D 483,149 199,297 118,891 490,004 — 488,778 — Residential Real Estate: First Lien-Owner Occupied 253,437 253,437 88,723 276,861 275,185 Commercial and Industrial 69,970 69,970 24,517 69,712 894 70,733 2,093 Consumer 28,556 28,556 28,139 27,668 75 27,831 242 Total acquired impaired 5,454,152 3,529,011 260,270 6,998,216 36,088 7,011,793 57,102 Total impaired $ 10,142,818 $ 8,217,677 $ 431,431 $ 11,693,954 $ 87,558 11,748,328 $ 168,854 _______________________ ( 1 Generally accepted accounting principles require that we record acquired loans at fair value at acquisition, which includes a discount for loans with credit impairment. These purchased credit impaired loans are not not Impaired Loans December 31, 2017 Unpaid Recorded Related Average Interest Legacy With no related allowance recorded: Commercial Real Estate: Owner Occupied $ 1,797,030 $ 1,797,030 $ — $ 1,913,873 $ 70,623 Investment 1,155,595 1,155,595 — 1,183,738 51,806 Residential Real Estate: First Lien-Owner Occupied 226,554 226,554 — 233,618 10,536 Commercial and Industrial 387,208 387,208 — 379,983 30,245 With an allowance recorded: Commercial Real Estate: Investment 592,432 592,432 69,903 601,959 30,576 Residential Real Estate: First Lien-Owner Occupied 54,576 54,576 37,075 217,673 — First Lien-Investment 192,501 192,501 39,420 192,501 — Commercial and Industrial 96,212 96,212 96,212 97,923 4,960 Total legacy impaired 4,502,108 4,502,108 242,610 4,821,268 198,746 Acquired(1) With no related allowance recorded: Commercial Real Estate: Owner Occupied 253,865 253,865 — 252,988 2,155 Land and A&D 334,271 45,000 — 334,271 — Residential Real Estate: First Lien-Owner Occupied 1,382,055 1,269,796 — 1,390,037 31,601 First Lien-Investment 131,294 74,066 — 132,812 4,378 With an allowance recorded: Commercial Real Estate: Land and A&D 148,196 148,196 80,072 155,621 2,498 Residential Real Estate: First Lien-Owner Occupied 250,194 250,194 77,464 273,596 23,424 Commercial and Industrial 72,125 72,125 24,517 74,279 3,775 Total acquired impaired 2,572,000 2,113,242 182,053 2,613,604 67,831 Total impaired $ 7,074,108 $ 6,615,350 $ 424,663 $ 7,434,872 $ 266,577 _______________________ ( 1 Generally accepted accounting principles require that we record acquired loans at fair value at acquisition, which includes a discount for loans with credit impairment. These purchased credit impaired loans are not not We consider a loan a TDR when we conclude that both of the following conditions exist: the restructuring constitutes a concession and the debtor is experiencing financial difficulties. Restructured loans at June 30, 2018 seven $2.4 seven $2.7 December 31, 2017. The following table includes the recorded investment in and number of modifications of TDRs for the three six June 30, 2018 2017. no three three six June 30, 2018 2017. Loans Modified as a TDR for the three months ended June 30, 2018 June 30, 2017 Troubled Debt Restructurings— # of Pre- Post # of Pre- Post Legacy Commercial Real Estate — — — 1 1,596,740 1,596,740 Residential Real Estate Owner Occupied 1 201,449 28,556 — — — Commercial and Industrial — — — 1 414,324 414,324 Total legacy TDR's 1 $ 201,449 $ 28,556 2 $ 2,011,064 $ 2,011,064 Loans Modified as a TDR for the six months ended June 30, 2018 June 30, 2017 Troubled Debt Restructurings— # of Pre- Post # of Pre- Post Legacy Commercial Real Estate — — — 1 1,596,740 1,596,740 Residential Real Estate Owner Occupied 1 201,449 28,556 — — — Commercial and Industrial — — — 1 414,324 414,324 Total legacy TDR's 1 $ 201,449 $ 28,556 2 $ 2,011,064 $ 2,011,064 Acquired impaired loans The following table documents changes in the accretable (premium) discount on acquired impaired loans during the six June 30, 2018 2017, June 30, 2018 June 30, 2017 Balance at beginning of period $ 115,066 $ (22,980 ) Additions due to BYBK acquisition 50,984 — Accretion of fair value discounts (404,846 ) (51,722 ) Reclassification from non-accretable discount 414,317 52,807 Balance at end of period $ 175,521 $ (21,895 ) Contractually Carrying Amount At June 30, 2018 $ 19,588,843 $ 15,209,609 At December 31, 2017 8,277,731 6,617,774 At June 30, 2017 8,311,088 6,643,878 At December 31, 2016 9,597,703 7,558,415 For our acquisition of Bay Bank on April 13, 2018, no two We had an independent third 1,991 $520.5 $8.3 We also individually evaluated 132 $13.5 April 13, 2018 We established a credit related non-accretable difference of $3.2 We have re-classified $21.7 third 2018. The following table outlines the contractually required payments receivable, cash flows we expect to receive, non-accretable credit adjustment and the accretable yield for all of Bay Bank’s impaired loans as of the acquisition date, April 13, 2018. Purchased Contractually required principal at acquisition $ 14,766 Contractual cash flows not expected to be colledted (non-accretable difference) (3,201 ) Expected cash flows at acquisition-Total 11,565 Credit Quality Indicators We review the adequacy of the allowance for loan losses at least quarterly. We base the evaluation of the adequacy of the allowance for loan losses upon loan categories. We categorize loans as residential real estate loans, commercial real estate loans, commercial loans and consumer loans. We further divide commercial real estate loans by owner occupied, investment, hospitality and land acquisition and development. We also divide residential real estate by owner occupied, investment, land acquisition and development and junior liens. All categories are divided by risk rating and loss factors and weighed by risk rating to determine estimated loss amounts. We evaluate delinquent loans and loans for which management has knowledge about possible credit problems of the borrower or knowledge of problems with collateral separately and assign loss amounts based upon the evaluation. We determine loss ratios for all loans based upon a review of the three We charge off loans that management has identified as losses. We consider suggestions from our external loan review firm and bank examiners when determining which loans to charge off. We automatically charge off consumer loan accounts based on regulatory requirements. We partially charge off real estate loans that are collateral dependent based on the value of the collateral. If a loan that was previously rated a pass performing loan, from our acquisitions, deteriorates subsequent to the acquisition, the subject loan will be assessed for risk and, if necessary, evaluated for impairment. If the risk assessment rating is adversely changed and the loan is determined to not no no The following tables outline the class of loans by risk rating at June 30, 2018 December 31, 2017: At June 30, 2018 Legacy Acquired Total Risk Rating Pass(1 - 5) Commercial Real Estate: Owner Occupied $ 264,890,138 $ 151,937,113 $ 416,827,251 Investment 588,553,131 203,067,764 791,620,895 Hospitality 161,865,109 6,942,561 168,807,670 Land and A&D 65,510,282 27,216,331 92,726,613 Residential Real Estate: First Lien-Investment 81,411,986 50,627,622 132,039,608 First Lien-Owner Occupied 83,615,303 140,680,068 224,295,371 Land and A&D 39,748,478 20,902,355 60,650,833 HELOC and Jr. Liens 21,917,531 45,147,436 67,064,967 Commercial and Industrial 201,930,359 99,346,280 301,276,639 Consumer 17,073,513 42,235,380 59,308,893 Total pass 1,526,515,830 788,102,910 2,314,618,740 Special Mention(6) Commercial Real Estate: Owner Occupied 428,147 2,737,280 3,165,427 Investment 375,432 1,015,974 1,391,406 Hospitality — 289,894 289,894 Land and A&D 2,057,727 314,701 2,372,428 Residential Real Estate: First Lien-Investment 295,279 1,757,939 2,053,218 First Lien-Owner Occupied 64,910 1,839,391 1,904,301 Land and A&D 2,130,143 104,407 2,234,550 HELOC and Jr. Liens — 126,006 126,006 Commercial and Industrial 1,328,443 112,713 1,441,156 Consumer — 97,515 97,515 Total special mention 6,680,081 8,395,820 15,075,901 Substandard(7) Commercial Real Estate: Owner Occupied 5,244,419 2,737,421 7,981,840 Investment 1,716,417 1,296,055 3,012,472 Hospitality — — — Land and A&D — 151,780 151,780 Residential Real Estate: First Lien-Investment 534,616 1,303,852 1,838,468 First Lien-Owner Occupied 271,337 3,183,976 3,455,313 Land and A&D 277,704 594,743 872,447 HELOC and Jr. Liens — 65,227 65,227 Commercial and Industrial 1,873,056 3,079,180 4,952,236 Consumer — 137,791 137,791 Total substandard 9,917,549 12,550,025 22,467,574 Doubtful(8) — — — Loss(9) — — — Total $ 1,543,113,460 $ 809,048,755 $ 2,352,162,215 At December 31, 2017 Legacy Acquired Total Risk Rating Pass(1 - 5) Commercial Real Estate: Owner Occupied $ 262,377,665 $ 83,069,390 $ 345,447,055 Investment 483,404,883 51,064,247 534,469,130 Hospitality 164,193,228 7,395,186 171,588,414 Land and A&D 65,184,837 9,065,405 74,250,242 Residential Real Estate: First Lien-Investment 78,814,931 19,846,749 98,661,680 First Lien-Owner Occupied 66,888,943 57,895,058 124,784,001 Land and A&D 33,712,187 5,727,719 39,439,906 HELOC and Jr. Liens 21,520,339 16,019,418 37,539,757 Commercial and Industrial 150,881,948 32,738,715 183,620,663 Consumer 10,758,589 49,017,427 59,776,016 Total pass 1,337,737,550 331,839,314 1,669,576,864 Special Mention(6) Commercial Real Estate: Owner Occupied 435,751 2,816,057 3,251,808 Investment 384,011 1,037,254 1,421,265 Hospitality — — — Land and A&D 2,125,823 120,366 2,246,189 Residential Real Estate: First Lien-Investment 300,824 1,034,942 1,335,766 First Lien-Owner Occupied 67,626 1,848,385 1,916,011 Land and A&D 2,167,666 663,248 2,830,914 Commercial and Industrial 1,519,394 59,902 1,579,296 Consumer — 65,324 65,324 Total special mention 7,001,095 7,645,478 14,646,573 Substandard(7) Commercial Real Estate: Owner Occupied 5,314,671 1,773,408 7,088,079 Investment 1,748,027 825,238 2,573,265 Hospitality — — — Land and A&D — 45,000 45,000 Residential Real Estate: First Lien-Investment 646,927 338,827 985,754 First Lien-Owner Occupied 281,130 2,781,351 3,062,481 Land and A&D — 145,193 145,193 Commercial and Industrial 1,843,303 302,071 2,145,374 Consumer — — — Total substandard 9,834,058 6,211,088 16,045,146 Doubtful(8) — — — Loss(9) — — — Total $ 1,354,572,703 $ 345,695,880 $ 1,700,268,583 The following table details activity in the allowance for loan losses by portfolio segment for the three six June 30, 2018 2017. one not Three Months Ended June 30, 2018 Commercial Commercial Residential Consumer Total Beginning balance $ 1,211,958 $ 4,231,433 $ 776,298 $ 37,830 $ 6,257,519 Provision for loan losses 465,140 (34,959 ) (36,923 ) 138,999 532,257 Recoveries 3,350 278 12,079 3,208 18,915 Total 1,680,448 4,196,752 751,454 180,037 6,808,691 Loans charged off — — (1,824 ) (102,290 ) (104,114 ) Ending Balance $ 1,680,448 $ 4,196,752 $ 749,630 $ 77,747 $ 6,704,577 Six Months Ended June 30, 2018 Commercial Commercial Residential Consumer Total Beginning balance $ 1,262,030 $ 3,783,735 $ 844,355 $ 30,466 $ 5,920,586 Provision for loan losses 414,768 412,600 (105,012 ) 204,797 927,153 Recoveries 3,650 417 12,111 6,853 23,031 Total 1,680,448 4,196,752 751,454 242,116 6,870,770 Loans charged off — — (1,824 ) (164,369 ) (166,193 ) Ending Balance $ 1,680,448 $ 4,196,752 $ 749,630 $ 77,747 $ 6,704,577 Amount allocated to: Legacy Loans: Individually evaluated for impairment $ 94,666 $ — $ 76,495 $ — $ 171,161 Other loans not individually evaluated 1,538,766 4,100,361 584,412 49,608 6,273,147 Acquired Loans: Individually evaluated for impairment 47,016 96,391 88,723 28,139 260,269 Ending balance $ 1,680,448 $ 4,196,752 $ 749,630 $ 77,747 $ 6,704,577 Three Months Ended June 30, 2017 Commercial Commercial Residential Consumer Total Beginning balance $ 1,233,152 $ 3,683,260 $ 684,541 $ 8,836 $ 5,609,789 Provision for loan losses 84,583 105,746 109,254 (20,667 ) 278,916 Recoveries 512 417 — 22,208 23,137 Total 1,318,247 3,789,423 793,795 10,377 5,911,842 Loans charged off — — — — — Ending Balance $ 1,318,247 $ 3,789,423 $ 793,795 $ 10,377 $ 5,911,842 Six Months Ended June 30, 2017 Commercial Commercial Residential Consumer Total Beginning balance $ 1,372,235 $ 3,990,152 $ 823,520 $ 9,562 $ 6,195,469 Provision for loan losses 514,972 238,360 (28,357 ) (5,568 ) 719,407 Recoveries 1,563 833 900 25,532 28,828 Total 1,888,770 4,229,345 796,063 29,526 6,943,704 Loans charged off (570,523 ) (439,922 ) (2,268 ) (19,149 ) (1,031,862 ) Ending Balance $ 1,318,247 $ 3,789,423 $ 793,795 $ 10,377 $ 5,911,842 Amount allocated to: Legacy Loans: Individually evaluated for impairment $ 300,234 $ 28,803 $ 20,262 $ — $ 349,299 Other loans not individually evaluated 993,496 3,760,620 693,461 10,377 5,457,954 Acquired Loans: Individually evaluated for impairment 24,517 — 80,072 — 104,589 Ending balance $ 1,318,247 $ 3,789,423 $ 793,795 $ 10,377 $ 5,911,842 Our recorded investment in loans at June 30, 2018 2017 June 30, 2018 Commercial Commercial Residential Consumer Total Legacy loans: Individually evaluated for impairment with specific reserve $ 94,666 $ — $ 1,116,563 $ — $ 1,211,229 Individually evaluated for impairment without specific reserve 368,654 2,696,286 412,496 — 3,477,436 Other loans not individually evaluated 204,668,539 1,087,944,518 228,738,227 17,073,514 1,538,424,798 Acquired loans: Individually evaluated for impairment with specific reserve subsequent to acquisition (ASC 310-20 at acquisition) 69,970 199,297 253,437 28,556 551,260 Individually evaluated for impairment without specific reserve (ASC 310-20 at acquisition) 147,351 725,944 2,071,530 32,926 2,977,751 Individually evaluated for impairment without specific reserve (ASC 310-30 at acquisition) 657,508 8,737,493 5,794,810 19,798 15,209,609 Collectively evaluated for impairment without reserve (ASC 310-20 at acquisition) 101,663,343 388,044,140 258,213,244 42,389,405 790,310,132 Ending balance $ 307,670,031 $ 1,488,347,678 $ 496,600,307 $ 59,544,199 $ 2,352,162,215 June 30, 2017 Commercial Commercial Residential Consumer Total Legacy loans: Individually evaluated for impairment with specific reserve $ 300,234 $ 601,535 $ 192,501 $ — $ 1,094,270 Individually evaluated for impairment without specific reserve 405,368 3,009,569 263,495 — 3,678,432 Other loans not individually evaluated 149,238,270 918,871,531 208,531,955 4,405,042 1,281,046,798 Acquired loans: Individually evaluated for impairment with specific reserve subsequent to acquisition (ASC 310-20 at acquisition) 74,197 150,430 — — 224,627 Individually evaluated for impairment without specific reserve (ASC 310-20 at acquisition) — 252,687 1,585,980 — 1,838,667 Individually evaluated for impairment without specific reserve (ASC 310-30 at acquisition) — 3,515,652 3,128,226 — 6,643,878 Collectively evaluated for impairment without reserve (ASC 310-20 at acquisition) 4,749,336 87,128,806 64,312,307 88,696 156,279,145 Ending balance $ 154,767,405 $ 1,013,530,210 $ 278,014,464 $ 4,493,738 $ 1,450,805,817 |
Note 5 - Other Real Estate Owne
Note 5 - Other Real Estate Owned | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Real Estate Owned [Text Block] | 5. OTHER REAL ESTATE OWNED At June 30, 2018 December 31, 2017, $2.4 $2.0 two not The following outlines the transactions in OREO during the period. Six months ended June 30, 2018 Legacy Acquired Total Beginning balance $ 425,000 $ 1,578,998 $ 2,003,998 Acquisition of Bay Bancorp, Inc. — 1,041,079 1,041,079 Sales/deposits on sales (425,000 ) (207,658 ) (632,658 ) Net realized gain/(loss) — (54,472 ) (54,472 ) Total end of period $ — $ 2,357,947 $ 2,357,947 Residential Foreclosures and Repossessed Assets June 30, 2018, $1.7 four $308 June 30, 2018 one $277 December 31, 2017. |
Note 6 - Earnings Per Common Sh
Note 6 - Earnings Per Common Share | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 6. EARNINGS PER COMMON SHARE We determine basic earnings per common share by dividing net income available to common stockholders by the weighted average number of shares of common stock outstanding giving retroactive effect to stock dividends. We calculate diluted earnings per common share by including the average dilutive common stock equivalents outstanding during the period. Dilutive common equivalent shares consist of stock options, calculated using the treasury stock method. Three Months Ended Six Months Ended 2018 2017 2018 2017 Weighted average number of shares 16,249,625 10,951,464 14,407,182 10,938,892 Dilutive average number of shares 16,464,580 11,165,814 14,620,030 11,152,901 |
Note 7 - Stock Based Compensati
Note 7 - Stock Based Compensation | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Shareholders' Equity and Share-based Payments [Text Block] | 7. STOCK-BASED COMPENSATION For the three June 30, 2018 2017, $280,750 $146,918, six June 30, 2018 2017, $569,310 $262,031, June 30, 2018, $1.6 2.2 June 30, 2018, 212,005 2010 53,021 six June 30, 2018 14,300 six June 30, 2017. For purposes of determining estimated fair value of stock options, we have computed the estimated fair value of all stock-based compensation using the Black-Scholes option pricing model and, for stock options granted prior to June 30, 2018, 10 December 31, 2017. six June 30, 2018, 50,000 no six June 30, 2017. 2018 $8.90 During the six June 30, 2018 2017, 19,443 24,415 $32.00 June 30, 2018. no six June 30, 2018 2017. |
Note 8 - Fair Value Measurement
Note 8 - Fair Value Measurement | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 8. FAIR VALUE MEASUREMENT The fair value of an asset or liability is the price that participants would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants. A fair value measurement assumes that the transaction to sell the asset or transfer the liability occurs in the principal market for the asset or liability, or, in the absence of a principal market, the most advantageous market for the asset or liability. The price in the principal (or most advantageous) market used to measure the fair value of the asset or liability shall not not The fair value hierarchy established by accounting standards defines three three may 1 2 1 3 no three six June 30, 2018 December 31, 2017. At June 30, 2018, third To validate the appropriateness of the valuations provided by the third third 2 1 3. Assets and Liabilities Measured at Fair Value on a Recurring Basis At June 30, 2018 (In thousands) Carrying Value Quoted Prices in Other Significant Total Changes Available-for-sale: Treasury securities $ 2,998 $ 2,998 $ — $ — $ — U.S. government agency 18,347 — 18,347 — — Corporate bonds 18,197 — — 18,197 — Municipal securities 77,022 — 77,022 — — FHLMC MBS 17,575 — 17,575 — — FNMA MBS 56,786 — 56,786 — — GNMA MBS 19,016 — 19,016 — — Total recurring assets at fair value $ 209,941 $ 2,998 $ 188,746 $ 18,197 $ — At December 31, 2017 (In thousands) Carrying Value Quoted Prices in Other Significant Total Changes Available-for-sale: Treasury securities $ 3,005 $ 3,005 $ — $ — $ — U.S. government agency 17,734 — 17,734 — — Corporate bonds 14,658 — — 14,658 — Municipal securities 79,555 — 79,555 — — FHLMC MBS 19,455 — 19,455 — — FNMA MBS 62,946 — 62,946 — — GNMA MBS 21,000 — 21,000 — — Total recurring assets at fair value $ 218,353 $ 3,005 $ 200,690 $ 14,658 $ — Our valuation methodologies may may not not may The fair value of the majority of the securities in significant unobservable inputs (Level 3 third The following table provides a reconciliation of changes in fair value included in assets measured in the Consolidated Balance Sheet using inputs classified as level 3 (in thousands) Level 3 Investment available-for-sale Balance as of January 1, 2018 $ 14,658 Realized and unrealized gains (losses) Included in earnings — Included in other comprehensive income 39 Purchases, issuances, sales and settlements 3,500 Transfers into or out of level 3 — Balance at June 30, 2018 $ 18,197 The fair value calculated may not Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis We may June 30, 2018 December 31, 2017 We also measure certain non-financial assets such as OREO, TDRs, and repossessed or foreclosed property at fair value on a non-recurring basis. Generally, we estimate the fair value of these items using Level 2 3 At June 30, 2018 (In thousands) Carrying Value Quoted Prices in Other Significant Impaired Loans Legacy: $ 4,518 — — $ 4,518 Acquired: 3,269 — — 3,269 Total Impaired Loans 7,787 — — 7,787 Other real estate owned: Legacy: $ — — — $ — Acquired: 2,358 — — 2,358 Total other real estate owned: 2,358 — — 2,358 Total $ 10,145 $ — $ — $ 10,145 At December 31, 2017 (In thousands) Carrying Value Quoted Prices in Other Significant Impaired Loans Legacy: $ 4,260 — — $ 4,260 Acquired: 1,931 — — 1,931 Total Impaired Loans 6,191 — — 6,191 Other real estate owned: Legacy: $ 425 — — $ 425 Acquired: 1,579 — — 1,579 Total other real estate owned: 2,004 — — 2,004 Total $ 8,195 $ — $ — $ 8,195 As of June 30, 2018 December 31, 2017, 3 $10.1 $8.2 3 third twelve 0% 50%. two The following presents the carrying amount, fair value, and placement in the fair value hierarchy of Old Line Bancshares’ financial instruments not June 30, 2018 December 31, 2017. 820 Fair Value Measurement no June 30, 2018 (in thousands) Carrying Total Quoted Prices Significant Significant Assets: Cash and cash equivalents $ 66,459 $ 66,459 $ 66,459 $ — $ — Loans receivable, net 2,347,821 2,305,950 — — 2,305,950 Loans held for sale 34,038 34,364 — 34,364 — Investment securities available for sale 209,941 209,941 2,998 188,746 18,197 Equity Securities at cost 14,855 14,855 — 14,855 — Bank Owned Life Insurance 67,063 67,063 — 67,063 — Accrued interest receivable 7,715 7,715 — 1,364 6,351 Liabilities: Deposits: Non-interest-bearing 603,258 603,258 — 603,258 — Interest bearing 1,604,420 1,611,050 — 1,611,050 — Short term borrowings 314,676 314,676 — 314,676 — Long term borrowings 38,239 38,239 — 38,239 — Accrued Interest payable 1,828 1,828 — 1,828 — December 31,2017 (in thousands) Carrying Total Quoted Prices Significant Significant Assets: Cash and cash equivalents $ 35,174 $ 35,174 $ 35,174 $ — $ — Loans receivable, net 1,696,361 1,692,018 — — 1,692,018 Loans held for sale 4,404 4,558 — 4,558 — Investment securities available for sale 218,353 218,353 3,005 200,690 14,658 Equity Securities at cost 8,978 8,978 — 8,978 — Bank Owned Life Insurance 41,612 41,612 — 41,612 — Accrued interest receivable 5,476 5,476 — 1,215 4,261 Liabilities: Deposits: Non-interest-bearing 451,803 451,803 — 451,803 — Interest bearing 1,201,100 1,205,936 — 1,205,936 — Short term borrowings 192,612 192,612 — 192,612 — Long term borrowings 38,107 38,107 — 38,107 — Accrued Interest payable 1,472 1,472 — 1,472 — |
Note 9 - Short Term Borrowings
Note 9 - Short Term Borrowings | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Short-term Debt [Text Block] | 9. SHORT TERM BORROWINGS Short term borrowings consist of promissory notes or overnight repurchase agreements sold to Old Line Bank’s customers, federal funds purchased and advances from the FHLB). At June 30, 2018, $275.0 $155.0 December 31, 2017. June 30, 2018 December 31, 2017, no $39.7 $37.6 Securities Sold Under Agreements to Repurchase To support the $39.7 June 30, 2018, June 30, 2018 $64.6 no may $39.7 |
Note 10 - Long Term Borrowings
Note 10 - Long Term Borrowings | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Long-term Debt [Text Block] | 10. LONG TERM BORROWINGS Long term borrowings consist of $35 5.625% 2026 August 15, 2016, $34.1 Also included in long term borrowings are trust preferred subordinated debentures totaling $4.1 $2.6 June 30, 2018 two 1 $4.0 $1.4 March 17, 2034 2 $2.5 $1.2 December 14, 2035. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2018 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | Basis of Presentation and Consolidation The foregoing consolidated financial statements for the periods ended June 30, 2018 2017 December 31, 2017 10 December 31, 2017. no 10 |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates may |
Revenue from Contract with Customer [Policy Text Block] | Revenue from Contracts with Customers 606, 606” 606, not Our primary sources of revenue are derived from interest and dividends earned on loans, investment securities, and other financial instruments that are not 606. not 606 |
Reclassification, Policy [Policy Text Block] | Reclassifications 2017 2018 not |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements May 2014, 2014 09 – Revenue from Contracts with Customers not January 1, 2018, not In January 2016, No. 2016 01 , Financial Instruments – Recognition and Measurement of Financial Assets and Liabilities, not December 15, 2017, January 1, 2018. no first 2018, not In February 2016, 2016 02 , Leases (Topic 842 December 15, 2018. first 2019. In June 2016, 2016 13 , Financial Instruments – Credit Losses (Topic 326 December 15, 2019, third 2016 13. 2016 13 2016 13 No. 2016 13 In August 2016, 2016 15 , Statement of Cash Flows (Topic 230 Classification of Certain Cash Receipts and Cash Payments nine 1 2 zero 3 4 5 6 7 8 9 January 1, 2018 January 1, 2018, not not In January 2017, 2017 01, Business Combinations (Topic 805 Clarifying the definition of a business not January 1, 2018. not In January 2017, 2017 04, Simplifying the Test for Goodwill Impairment, 2 not December 15, 2019. January 1, 2017. not 2017 04 In March 2017, No. 2017 08, Premium Amortization on Purchased Callable Debt Securities not No. 2017 08 December 15, 2018; first not In August 2017, No. 2017 12, Targeted Improvements to Accounting for Hedging Activities 1 2 No. 2017 12 December 15, 2018; not not In February 2018, No. 2018 02, 220 35% 21%. 2018 02 December 15, 2018 2018 02 first 2018. $459,973 first 2018. |
Note 2 - Acquisition of Bay B21
Note 2 - Acquisition of Bay Bancorp, Inc. (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | Purchase Price Consideration Cash consideration $ 973,383 Purchase price assigned to shares exchanged for stock 142,645,695 Total purchase price for BYBK acquisition 143,619,078 Fair Value of Assets Acquired Cash and due from banks $ 22,590,994 Investment securities 51,895,757 Restricted equity securities, at cost 2,339,700 Loans, net 546,215,988 Premises and equipment 3,127,963 Accrued interest receivable 1,714,054 Accrued taxes receivable 1,912,807 Deferred income taxes 2,637,668 Bank owned life insurance 16,319,198 Other real estate owned 1,041,079 Core deposit intangible 11,243,714 Other assets 1,413,987 Total assets acquired $ 662,452,909 Fair Value of Liabilities assumed Deposits $ 541,368,907 Short term borrowings 41,100,000 Other liabilities 5,684,884 Total liabilities assumed $ 588,153,791 Fair Value of net assets acquired 74,299,118 Total Purchase Price 143,619,078 Goodwill recorded for BYBK $ 69,319,960 |
Business Acquisition, Pro Forma Information [Table Text Block] | Actual adjusted Pro Forma Actual adjusted Pro Forma Three months ended Three months ended Six months ended Six months ended Total revenues (net interest income plus noninterest income) $ 27,473 $ 24,269 $ 54,937 $ 47,774 Net adjusted income available to common stockholder $ 9,075 $ 5,175 $ 16,565 $ 10,086 |
Note 3 - Investment Securities
Note 3 - Investment Securities (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | Amortized Gross Gross Estimated June 30, 2018 Available for sale U.S. treasury $ 3,009,331 $ — $ (11,206 ) $ 2,998,125 U.S. government agency 18,979,460 — (632,196 ) 18,347,264 Corporate bonds 18,118,611 97,514 (18,746 ) 18,197,379 Municipal securities 79,806,457 27,034 (2,811,688 ) 77,021,803 Mortgage backed securities: FHLMC certificates 18,625,051 1,161 (1,051,132 ) 17,575,080 FNMA certificates 60,025,658 — (3,239,521 ) 56,786,137 GNMA certificates 20,018,892 — (1,003,146 ) 19,015,746 Total available for sale securities $ 218,583,460 $ 125,709 $ (8,767,635 ) $ 209,941,534 December 31, 2017 Available for sale U.S. treasury $ 3,007,728 $ — $ (2,337 ) $ 3,005,391 U.S. government agency 18,001,200 — (267,434 ) 17,733,766 Corporate bonds 14,621,378 144,574 (107,893 ) 14,658,059 Municipal securities 80,791,431 126,566 (1,362,709 ) 79,555,288 Mortgage backed securities FHLMC certificates 19,907,299 2,516 (455,580 ) 19,454,235 FNMA certificates 64,476,038 — (1,530,121 ) 62,945,917 GNMA certificates 21,403,894 — (403,992 ) 20,999,902 Total available for sale securities $ 222,208,968 $ 273,656 $ (4,130,066 ) $ 218,352,558 |
Schedule of Unrealized Loss on Investments [Table Text Block] | June 30, 2018 Less than 12 months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized U.S. treasury $ 2,998,125 $ 11,206 $ — $ — $ 2,998,125 $ 11,206 U.S. government agency 6,092,356 192,649 12,254,908 439,547 18,347,264 632,196 Corporate bonds 3,481,254 18,746 — — 3,481,254 18,746 Municipal securities 35,446,399 929,662 31,628,806 1,882,026 67,075,205 2,811,688 Mortgage backed securities FHLMC certificates — — 17,477,773 1,051,132 17,477,773 1,051,132 FNMA certificates 2,339,754 95,229 54,446,383 3,144,292 56,786,137 3,239,521 GNMA certificates 8,279,439 394,765 10,736,306 608,381 19,015,746 1,003,146 Total $ 58,637,327 $ 1,642,257 $ 126,544,176 $ 7,125,378 $ 185,181,504 $ 8,767,635 December 31, 2017 Less than 12 months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized U.S. treasury $ 1,506,328 $ 1,422 $ 1,499,063 $ 915 $ 3,005,391 $ 2,337 U.S. government agency 12,266,502 93,043 5,467,264 174,391 17,733,766 267,434 Corporate bonds 9,407,810 107,893 — — 9,407,810 107,893 Municipal securities 25,548,751 189,668 31,343,394 1,173,041 56,892,145 1,362,709 Mortgage backed securities FHLMC certificates — — 19,314,957 455,580 19,314,957 455,580 FNMA certificates 2,516,080 19,937 60,429,837 1,510,184 62,945,917 1,530,121 GNMA certificates 8,822,021 114,278 12,177,882 289,714 20,999,904 403,992 Total $ 60,067,492 $ 526,241 $ 130,232,397 $ 3,603,825 $ 190,299,890 $ 4,130,066 |
Investments Classified by Contractual Maturity Date [Table Text Block] | Available for Sale June 30, 2018 Amortized Fair Maturing Within one year $ 4,091,416 $ 4,081,040 Over one to five years 4,800,322 4,774,281 Over five to ten years 57,310,148 55,765,738 Over ten years 152,381,574 145,320,475 Total $ 218,583,460 $ 209,941,534 Pledged securities $ 68,010,493 $ 64,632,017 |
Note 4 - Loans (Tables)
Note 4 - Loans (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | June 30, 2018 December 31, 2017 Legacy (1) Acquired Total Legacy (1) Acquired Total Commercial Real Estate Owner Occupied $ 270,562,704 $ 157,411,814 $ 427,974,518 $ 268,128,087 $ 87,658,855 $ 355,786,942 Investment 590,644,980 205,379,793 796,024,773 485,536,921 52,926,739 538,463,660 Hospitality 161,865,109 7,232,455 169,097,564 164,193,228 7,395,186 171,588,414 Land and A&D 67,568,009 27,682,812 95,250,821 67,310,660 9,230,771 76,541,431 Residential Real Estate First Lien-Investment 82,241,881 53,689,412 135,931,293 79,762,682 21,220,518 100,983,200 First Lien-Owner Occupied 83,951,550 145,703,436 229,654,986 67,237,699 62,524,794 129,762,493 Residential Land and A&D 42,156,325 21,601,505 63,757,830 35,879,853 6,536,160 42,416,013 HELOC and Jr. Liens 21,917,531 45,338,669 67,256,200 21,520,339 16,019,418 37,539,757 Commercial and Industrial 205,131,858 102,538,173 307,670,031 154,244,645 33,100,688 187,345,333 Consumer 17,073,513 42,470,686 59,544,199 10,758,589 49,082,751 59,841,340 Total loans 1,543,113,460 809,048,755 2,352,162,215 1,354,572,703 345,695,880 1,700,268,583 Allowance for loan losses (6,444,307 ) (260,270 ) (6,704,577 ) (5,738,534 ) (182,052 ) (5,920,586 ) Deferred loan costs, net 2,363,858 — 2,363,858 2,013,434 — 2,013,434 Net loans $ 1,539,033,011 $ 808,788,485 $ 2,347,821,496 $ 1,350,847,603 $ 345,513,828 $ 1,696,361,431 |
Past Due Financing Receivables [Table Text Block] | June 30, 2018 December 31, 2017 Legacy Acquired Total Legacy Acquired Total Current $ 1,537,628,464 $ 793,109,509 $ 2,330,737,973 $ 1,352,406,852 $ 338,913,557 $ 1,691,320,409 Accruing past due loans: 30-89 days past due Commercial Real Estate: Owner Occupied 2,703,169 1,308,590 4,011,759 — — — Investment 291,278 2,237,802 2,529,080 1,089,022 843,706 1,932,728 Land and A&D 678,870 3,583,409 4,262,279 254,925 158,899 413,824 Residential Real Estate: First Lien-Investment 181,994 735,393 917,387 270,822 506,600 777,422 First Lien-Owner Occupied 94,743 2,555,200 2,649,943 229 2,457,299 2,457,528 HELOC and Jr. Liens 192,937 1,442,954 1,635,891 — 130,556 130,556 Commercial and Industrial 333,010 749,793 1,082,803 51,088 261,081 312,169 Consumer 89,480 1,157,030 1,246,510 26,134 1,017,195 1,043,329 Total 30-89 days past due 4,565,481 13,770,171 18,335,652 1,692,220 5,375,336 7,067,556 90 or more days past due Residential Real Estate: First Lien-Owner Occupied — 247,102 247,102 — 37,560 37,560 Commercial 177,973 1,027 179,000 — — — Consumer — 112,459 112,459 — 78,407 78,407 Total 90 or more days past due 177,973 360,588 538,561 — 115,967 115,967 Total accruing past due loans 4,743,454 14,130,759 18,874,213 1,692,220 5,491,303 7,183,523 Commercial Real Estate: Owner Occupied — 231,425 231,425 — 228,555 228,555 Investment — — — — — — Hospitality — — — — — — Land and A&D 277,704 196,171 473,875 — 190,193 190,193 Residential Real Estate: First Lien-Investment 192,501 — 192,501 192,501 — 192,501 First Lien-Owner Occupied 271,337 1,308,934 1,580,271 281,130 872,272 1,153,402 Land and A&D — — — — — — Commercial and Industrial — 45,218 45,218 — — — Consumer — 26,739 26,739 — — — Non-accruing loans: 741,542 1,808,487 2,550,029 473,631 1,291,020 1,764,651 Total Loans $ 1,543,113,460 $ 809,048,755 $ 2,352,162,215 $ 1,354,572,703 $ 345,695,880 $ 1,700,268,583 |
Impaired Financing Receivables [Table Text Block] | Impaired Loans Three months June 30, 2018 Six months June 30, 2018 Unpaid Recorded Related Average Interest Average Interest Legacy With no related allowance recorded: Commercial Real Estate: Owner Occupied $ 1,767,387 $ 1,767,387 $ — $ 1,764,445 $ 18,682 1,779,111 $ 42,401 Investment 651,195 651,195 — 650,816 8,676 656,802 16,722 Land and A&D 277,704 277,704 — 277,704 — 277,704 — Residential Real Estate: First Lien-Investment 192,501 192,501 — 192,501 — 192,501 — First Lien-Owner Occupied 219,996 219,996 — 229,901 4,200 230,466 6,449 Commercial and Industrial 368,654 368,654 — 366,484 3,355 375,616 7,798 With an allowance recorded: Commercial Real Estate: Investment — — — — — — — Residential Real Estate: First Lien-Investment 1,065,222 1,065,222 39,420 1,063,646 14,968 1,072,506 34,438 First Lien-Owner Occupied 51,341 51,341 37,076 55,830 — 56,621 1,134 Commercial and Industrial 94,666 94,666 94,665 94,411 1,589 95,208 2,810 Total legacy impaired 4,688,666 4,688,666 171,161 4,695,738 51,470 4,736,535 111,752 Acquired(1) With no related allowance recorded: Commercial Real Estate: Owner Occupied 557,660 557,660 — 587,825 5,296 584,136 5,296 Investment 73,241 61,504 — 400,394 5,055 401,800 5,055 Land and A&D 243,329 106,780 — 349,089 — 349,809 — Residential Real Estate: First Lien-Owner Occupied 1,631,478 1,511,742 — 1,797,742 5,089 1,799,968 24,257 First Lien-Investment 273,737 169,020 — 391,762 12,323 392,100 12,323 Land and A&D 593,785 390,768 — 705,086 — 705,086 — Commercial 1,029,478 147,351 — 1,324,966 7,356 1,329,002 7,594 Consumer 216,332 32,926 — 577,107 — 587,365 242 With an allowance recorded: Commercial Real Estate: Land and A&D 483,149 199,297 118,891 490,004 — 488,778 — Residential Real Estate: First Lien-Owner Occupied 253,437 253,437 88,723 276,861 275,185 Commercial and Industrial 69,970 69,970 24,517 69,712 894 70,733 2,093 Consumer 28,556 28,556 28,139 27,668 75 27,831 242 Total acquired impaired 5,454,152 3,529,011 260,270 6,998,216 36,088 7,011,793 57,102 Total impaired $ 10,142,818 $ 8,217,677 $ 431,431 $ 11,693,954 $ 87,558 11,748,328 $ 168,854 Impaired Loans December 31, 2017 Unpaid Recorded Related Average Interest Legacy With no related allowance recorded: Commercial Real Estate: Owner Occupied $ 1,797,030 $ 1,797,030 $ — $ 1,913,873 $ 70,623 Investment 1,155,595 1,155,595 — 1,183,738 51,806 Residential Real Estate: First Lien-Owner Occupied 226,554 226,554 — 233,618 10,536 Commercial and Industrial 387,208 387,208 — 379,983 30,245 With an allowance recorded: Commercial Real Estate: Investment 592,432 592,432 69,903 601,959 30,576 Residential Real Estate: First Lien-Owner Occupied 54,576 54,576 37,075 217,673 — First Lien-Investment 192,501 192,501 39,420 192,501 — Commercial and Industrial 96,212 96,212 96,212 97,923 4,960 Total legacy impaired 4,502,108 4,502,108 242,610 4,821,268 198,746 Acquired(1) With no related allowance recorded: Commercial Real Estate: Owner Occupied 253,865 253,865 — 252,988 2,155 Land and A&D 334,271 45,000 — 334,271 — Residential Real Estate: First Lien-Owner Occupied 1,382,055 1,269,796 — 1,390,037 31,601 First Lien-Investment 131,294 74,066 — 132,812 4,378 With an allowance recorded: Commercial Real Estate: Land and A&D 148,196 148,196 80,072 155,621 2,498 Residential Real Estate: First Lien-Owner Occupied 250,194 250,194 77,464 273,596 23,424 Commercial and Industrial 72,125 72,125 24,517 74,279 3,775 Total acquired impaired 2,572,000 2,113,242 182,053 2,613,604 67,831 Total impaired $ 7,074,108 $ 6,615,350 $ 424,663 $ 7,434,872 $ 266,577 |
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | Loans Modified as a TDR for the three months ended June 30, 2018 June 30, 2017 Troubled Debt Restructurings— # of Pre- Post # of Pre- Post Legacy Commercial Real Estate — — — 1 1,596,740 1,596,740 Residential Real Estate Owner Occupied 1 201,449 28,556 — — — Commercial and Industrial — — — 1 414,324 414,324 Total legacy TDR's 1 $ 201,449 $ 28,556 2 $ 2,011,064 $ 2,011,064 Loans Modified as a TDR for the six months ended June 30, 2018 June 30, 2017 Troubled Debt Restructurings— # of Pre- Post # of Pre- Post Legacy Commercial Real Estate — — — 1 1,596,740 1,596,740 Residential Real Estate Owner Occupied 1 201,449 28,556 — — — Commercial and Industrial — — — 1 414,324 414,324 Total legacy TDR's 1 $ 201,449 $ 28,556 2 $ 2,011,064 $ 2,011,064 |
Schedule of Loans and Leases Receivable Outstanding Balances and Related Carrying Amounts for Acquired Impaired Loans [Table Text Block] | June 30, 2018 June 30, 2017 Balance at beginning of period $ 115,066 $ (22,980 ) Additions due to BYBK acquisition 50,984 — Accretion of fair value discounts (404,846 ) (51,722 ) Reclassification from non-accretable discount 414,317 52,807 Balance at end of period $ 175,521 $ (21,895 ) Contractually Carrying Amount At June 30, 2018 $ 19,588,843 $ 15,209,609 At December 31, 2017 8,277,731 6,617,774 At June 30, 2017 8,311,088 6,643,878 At December 31, 2016 9,597,703 7,558,415 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Table Text Block] | Purchased Contractually required principal at acquisition $ 14,766 Contractual cash flows not expected to be colledted (non-accretable difference) (3,201 ) Expected cash flows at acquisition-Total 11,565 |
Financing Receivable Credit Quality Indicators [Table Text Block] | At June 30, 2018 Legacy Acquired Total Risk Rating Pass(1 - 5) Commercial Real Estate: Owner Occupied $ 264,890,138 $ 151,937,113 $ 416,827,251 Investment 588,553,131 203,067,764 791,620,895 Hospitality 161,865,109 6,942,561 168,807,670 Land and A&D 65,510,282 27,216,331 92,726,613 Residential Real Estate: First Lien-Investment 81,411,986 50,627,622 132,039,608 First Lien-Owner Occupied 83,615,303 140,680,068 224,295,371 Land and A&D 39,748,478 20,902,355 60,650,833 HELOC and Jr. Liens 21,917,531 45,147,436 67,064,967 Commercial and Industrial 201,930,359 99,346,280 301,276,639 Consumer 17,073,513 42,235,380 59,308,893 Total pass 1,526,515,830 788,102,910 2,314,618,740 Special Mention(6) Commercial Real Estate: Owner Occupied 428,147 2,737,280 3,165,427 Investment 375,432 1,015,974 1,391,406 Hospitality — 289,894 289,894 Land and A&D 2,057,727 314,701 2,372,428 Residential Real Estate: First Lien-Investment 295,279 1,757,939 2,053,218 First Lien-Owner Occupied 64,910 1,839,391 1,904,301 Land and A&D 2,130,143 104,407 2,234,550 HELOC and Jr. Liens — 126,006 126,006 Commercial and Industrial 1,328,443 112,713 1,441,156 Consumer — 97,515 97,515 Total special mention 6,680,081 8,395,820 15,075,901 Substandard(7) Commercial Real Estate: Owner Occupied 5,244,419 2,737,421 7,981,840 Investment 1,716,417 1,296,055 3,012,472 Hospitality — — — Land and A&D — 151,780 151,780 Residential Real Estate: First Lien-Investment 534,616 1,303,852 1,838,468 First Lien-Owner Occupied 271,337 3,183,976 3,455,313 Land and A&D 277,704 594,743 872,447 HELOC and Jr. Liens — 65,227 65,227 Commercial and Industrial 1,873,056 3,079,180 4,952,236 Consumer — 137,791 137,791 Total substandard 9,917,549 12,550,025 22,467,574 Doubtful(8) — — — Loss(9) — — — Total $ 1,543,113,460 $ 809,048,755 $ 2,352,162,215 At December 31, 2017 Legacy Acquired Total Risk Rating Pass(1 - 5) Commercial Real Estate: Owner Occupied $ 262,377,665 $ 83,069,390 $ 345,447,055 Investment 483,404,883 51,064,247 534,469,130 Hospitality 164,193,228 7,395,186 171,588,414 Land and A&D 65,184,837 9,065,405 74,250,242 Residential Real Estate: First Lien-Investment 78,814,931 19,846,749 98,661,680 First Lien-Owner Occupied 66,888,943 57,895,058 124,784,001 Land and A&D 33,712,187 5,727,719 39,439,906 HELOC and Jr. Liens 21,520,339 16,019,418 37,539,757 Commercial and Industrial 150,881,948 32,738,715 183,620,663 Consumer 10,758,589 49,017,427 59,776,016 Total pass 1,337,737,550 331,839,314 1,669,576,864 Special Mention(6) Commercial Real Estate: Owner Occupied 435,751 2,816,057 3,251,808 Investment 384,011 1,037,254 1,421,265 Hospitality — — — Land and A&D 2,125,823 120,366 2,246,189 Residential Real Estate: First Lien-Investment 300,824 1,034,942 1,335,766 First Lien-Owner Occupied 67,626 1,848,385 1,916,011 Land and A&D 2,167,666 663,248 2,830,914 Commercial and Industrial 1,519,394 59,902 1,579,296 Consumer — 65,324 65,324 Total special mention 7,001,095 7,645,478 14,646,573 Substandard(7) Commercial Real Estate: Owner Occupied 5,314,671 1,773,408 7,088,079 Investment 1,748,027 825,238 2,573,265 Hospitality — — — Land and A&D — 45,000 45,000 Residential Real Estate: First Lien-Investment 646,927 338,827 985,754 First Lien-Owner Occupied 281,130 2,781,351 3,062,481 Land and A&D — 145,193 145,193 Commercial and Industrial 1,843,303 302,071 2,145,374 Consumer — — — Total substandard 9,834,058 6,211,088 16,045,146 Doubtful(8) — — — Loss(9) — — — Total $ 1,354,572,703 $ 345,695,880 $ 1,700,268,583 |
Allowance for Credit Losses on Financing Receivables [Table Text Block] | Three Months Ended June 30, 2018 Commercial Commercial Residential Consumer Total Beginning balance $ 1,211,958 $ 4,231,433 $ 776,298 $ 37,830 $ 6,257,519 Provision for loan losses 465,140 (34,959 ) (36,923 ) 138,999 532,257 Recoveries 3,350 278 12,079 3,208 18,915 Total 1,680,448 4,196,752 751,454 180,037 6,808,691 Loans charged off — — (1,824 ) (102,290 ) (104,114 ) Ending Balance $ 1,680,448 $ 4,196,752 $ 749,630 $ 77,747 $ 6,704,577 Six Months Ended June 30, 2018 Commercial Commercial Residential Consumer Total Beginning balance $ 1,262,030 $ 3,783,735 $ 844,355 $ 30,466 $ 5,920,586 Provision for loan losses 414,768 412,600 (105,012 ) 204,797 927,153 Recoveries 3,650 417 12,111 6,853 23,031 Total 1,680,448 4,196,752 751,454 242,116 6,870,770 Loans charged off — — (1,824 ) (164,369 ) (166,193 ) Ending Balance $ 1,680,448 $ 4,196,752 $ 749,630 $ 77,747 $ 6,704,577 Amount allocated to: Legacy Loans: Individually evaluated for impairment $ 94,666 $ — $ 76,495 $ — $ 171,161 Other loans not individually evaluated 1,538,766 4,100,361 584,412 49,608 6,273,147 Acquired Loans: Individually evaluated for impairment 47,016 96,391 88,723 28,139 260,269 Ending balance $ 1,680,448 $ 4,196,752 $ 749,630 $ 77,747 $ 6,704,577 Three Months Ended June 30, 2017 Commercial Commercial Residential Consumer Total Beginning balance $ 1,233,152 $ 3,683,260 $ 684,541 $ 8,836 $ 5,609,789 Provision for loan losses 84,583 105,746 109,254 (20,667 ) 278,916 Recoveries 512 417 — 22,208 23,137 Total 1,318,247 3,789,423 793,795 10,377 5,911,842 Loans charged off — — — — — Ending Balance $ 1,318,247 $ 3,789,423 $ 793,795 $ 10,377 $ 5,911,842 Six Months Ended June 30, 2017 Commercial Commercial Residential Consumer Total Beginning balance $ 1,372,235 $ 3,990,152 $ 823,520 $ 9,562 $ 6,195,469 Provision for loan losses 514,972 238,360 (28,357 ) (5,568 ) 719,407 Recoveries 1,563 833 900 25,532 28,828 Total 1,888,770 4,229,345 796,063 29,526 6,943,704 Loans charged off (570,523 ) (439,922 ) (2,268 ) (19,149 ) (1,031,862 ) Ending Balance $ 1,318,247 $ 3,789,423 $ 793,795 $ 10,377 $ 5,911,842 Amount allocated to: Legacy Loans: Individually evaluated for impairment $ 300,234 $ 28,803 $ 20,262 $ — $ 349,299 Other loans not individually evaluated 993,496 3,760,620 693,461 10,377 5,457,954 Acquired Loans: Individually evaluated for impairment 24,517 — 80,072 — 104,589 Ending balance $ 1,318,247 $ 3,789,423 $ 793,795 $ 10,377 $ 5,911,842 |
Schedule of Recorded Investment Based on Impairment Methodology [Table Text Block] | June 30, 2018 Commercial Commercial Residential Consumer Total Legacy loans: Individually evaluated for impairment with specific reserve $ 94,666 $ — $ 1,116,563 $ — $ 1,211,229 Individually evaluated for impairment without specific reserve 368,654 2,696,286 412,496 — 3,477,436 Other loans not individually evaluated 204,668,539 1,087,944,518 228,738,227 17,073,514 1,538,424,798 Acquired loans: Individually evaluated for impairment with specific reserve subsequent to acquisition (ASC 310-20 at acquisition) 69,970 199,297 253,437 28,556 551,260 Individually evaluated for impairment without specific reserve (ASC 310-20 at acquisition) 147,351 725,944 2,071,530 32,926 2,977,751 Individually evaluated for impairment without specific reserve (ASC 310-30 at acquisition) 657,508 8,737,493 5,794,810 19,798 15,209,609 Collectively evaluated for impairment without reserve (ASC 310-20 at acquisition) 101,663,343 388,044,140 258,213,244 42,389,405 790,310,132 Ending balance $ 307,670,031 $ 1,488,347,678 $ 496,600,307 $ 59,544,199 $ 2,352,162,215 June 30, 2017 Commercial Commercial Residential Consumer Total Legacy loans: Individually evaluated for impairment with specific reserve $ 300,234 $ 601,535 $ 192,501 $ — $ 1,094,270 Individually evaluated for impairment without specific reserve 405,368 3,009,569 263,495 — 3,678,432 Other loans not individually evaluated 149,238,270 918,871,531 208,531,955 4,405,042 1,281,046,798 Acquired loans: Individually evaluated for impairment with specific reserve subsequent to acquisition (ASC 310-20 at acquisition) 74,197 150,430 — — 224,627 Individually evaluated for impairment without specific reserve (ASC 310-20 at acquisition) — 252,687 1,585,980 — 1,838,667 Individually evaluated for impairment without specific reserve (ASC 310-30 at acquisition) — 3,515,652 3,128,226 — 6,643,878 Collectively evaluated for impairment without reserve (ASC 310-20 at acquisition) 4,749,336 87,128,806 64,312,307 88,696 156,279,145 Ending balance $ 154,767,405 $ 1,013,530,210 $ 278,014,464 $ 4,493,738 $ 1,450,805,817 |
Note 5 - Other Real Estate Ow24
Note 5 - Other Real Estate Owned (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Other Real Estate, Roll Forward [Table Text Block] | Six months ended June 30, 2018 Legacy Acquired Total Beginning balance $ 425,000 $ 1,578,998 $ 2,003,998 Acquisition of Bay Bancorp, Inc. — 1,041,079 1,041,079 Sales/deposits on sales (425,000 ) (207,658 ) (632,658 ) Net realized gain/(loss) — (54,472 ) (54,472 ) Total end of period $ — $ 2,357,947 $ 2,357,947 |
Note 6 - Earnings Per Common 25
Note 6 - Earnings Per Common Share (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Schedule of Weighted Average Number of Shares [Table Text Block] | Three Months Ended Six Months Ended 2018 2017 2018 2017 Weighted average number of shares 16,249,625 10,951,464 14,407,182 10,938,892 Dilutive average number of shares 16,464,580 11,165,814 14,620,030 11,152,901 |
Note 8 - Fair Value Measureme26
Note 8 - Fair Value Measurement (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | At June 30, 2018 (In thousands) Carrying Value Quoted Prices in Other Significant Total Changes Available-for-sale: Treasury securities $ 2,998 $ 2,998 $ — $ — $ — U.S. government agency 18,347 — 18,347 — — Corporate bonds 18,197 — — 18,197 — Municipal securities 77,022 — 77,022 — — FHLMC MBS 17,575 — 17,575 — — FNMA MBS 56,786 — 56,786 — — GNMA MBS 19,016 — 19,016 — — Total recurring assets at fair value $ 209,941 $ 2,998 $ 188,746 $ 18,197 $ — At December 31, 2017 (In thousands) Carrying Value Quoted Prices in Other Significant Total Changes Available-for-sale: Treasury securities $ 3,005 $ 3,005 $ — $ — $ — U.S. government agency 17,734 — 17,734 — — Corporate bonds 14,658 — — 14,658 — Municipal securities 79,555 — 79,555 — — FHLMC MBS 19,455 — 19,455 — — FNMA MBS 62,946 — 62,946 — — GNMA MBS 21,000 — 21,000 — — Total recurring assets at fair value $ 218,353 $ 3,005 $ 200,690 $ 14,658 $ — |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | (in thousands) Level 3 Investment available-for-sale Balance as of January 1, 2018 $ 14,658 Realized and unrealized gains (losses) Included in earnings — Included in other comprehensive income 39 Purchases, issuances, sales and settlements 3,500 Transfers into or out of level 3 — Balance at June 30, 2018 $ 18,197 |
Fair Value Measurements, Nonrecurring [Table Text Block] | At June 30, 2018 (In thousands) Carrying Value Quoted Prices in Other Significant Impaired Loans Legacy: $ 4,518 — — $ 4,518 Acquired: 3,269 — — 3,269 Total Impaired Loans 7,787 — — 7,787 Other real estate owned: Legacy: $ — — — $ — Acquired: 2,358 — — 2,358 Total other real estate owned: 2,358 — — 2,358 Total $ 10,145 $ — $ — $ 10,145 At December 31, 2017 (In thousands) Carrying Value Quoted Prices in Other Significant Impaired Loans Legacy: $ 4,260 — — $ 4,260 Acquired: 1,931 — — 1,931 Total Impaired Loans 6,191 — — 6,191 Other real estate owned: Legacy: $ 425 — — $ 425 Acquired: 1,579 — — 1,579 Total other real estate owned: 2,004 — — 2,004 Total $ 8,195 $ — $ — $ 8,195 |
Fair Value, by Balance Sheet Grouping [Table Text Block] | June 30, 2018 (in thousands) Carrying Total Quoted Prices Significant Significant Assets: Cash and cash equivalents $ 66,459 $ 66,459 $ 66,459 $ — $ — Loans receivable, net 2,347,821 2,305,950 — — 2,305,950 Loans held for sale 34,038 34,364 — 34,364 — Investment securities available for sale 209,941 209,941 2,998 188,746 18,197 Equity Securities at cost 14,855 14,855 — 14,855 — Bank Owned Life Insurance 67,063 67,063 — 67,063 — Accrued interest receivable 7,715 7,715 — 1,364 6,351 Liabilities: Deposits: Non-interest-bearing 603,258 603,258 — 603,258 — Interest bearing 1,604,420 1,611,050 — 1,611,050 — Short term borrowings 314,676 314,676 — 314,676 — Long term borrowings 38,239 38,239 — 38,239 — Accrued Interest payable 1,828 1,828 — 1,828 — December 31,2017 (in thousands) Carrying Total Quoted Prices Significant Significant Assets: Cash and cash equivalents $ 35,174 $ 35,174 $ 35,174 $ — $ — Loans receivable, net 1,696,361 1,692,018 — — 1,692,018 Loans held for sale 4,404 4,558 — 4,558 — Investment securities available for sale 218,353 218,353 3,005 200,690 14,658 Equity Securities at cost 8,978 8,978 — 8,978 — Bank Owned Life Insurance 41,612 41,612 — 41,612 — Accrued interest receivable 5,476 5,476 — 1,215 4,261 Liabilities: Deposits: Non-interest-bearing 451,803 451,803 — 451,803 — Interest bearing 1,201,100 1,205,936 — 1,205,936 — Short term borrowings 192,612 192,612 — 192,612 — Long term borrowings 38,107 38,107 — 38,107 — Accrued Interest payable 1,472 1,472 — 1,472 — |
Note 1 - Summary of Significa27
Note 1 - Summary of Significant Accounting Policies (Details Textual) - USD ($) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 35.00% | ||
New Accounting Pronouncement, Early Adoption, Effect [Member] | Reclassification of Stranded Tax Debit From Accumulated Other Comprehensive Income to Retained Earnings [Member] | |||
Tax Cuts and Jobs Act of 2017, Reclassification from AOCI to Retained Earnings, Tax Effect | $ 459,973 | ||
Scenario, Forecast [Member] | |||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% |
Note 2 - Acquisition of Bay B28
Note 2 - Acquisition of Bay Bancorp, Inc. (Details Textual) - USD ($) | Apr. 13, 2018 | Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 |
Business Combination, Integration Related Costs | $ 7,121,802 | $ 7,121,802 | |||
Provision for Loan and Lease Losses, Total | 532,257 | $ 278,916 | 927,153 | $ 719,407 | |
Bay Bancorp, Inc [Member] | |||||
Business Acquisition Amount of Company Stock Received Per Share | $ 0.4088 | ||||
Stock Issued During Period, Shares, Acquisitions | 4,408,087 | ||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | $ 142,645,695 | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets, Total | $ 662,452,909 | ||||
Business Combination, Integration Related Costs | 7,100,000 | 7,100,000 | |||
Provision for Loan and Lease Losses, Total | $ 300,000 | $ 300,000 |
Note 2 - Acquisition of Bay B29
Note 2 - Acquisition of Bay Bancorp, Inc. - Assets and Liabilities Acquired (Details) - USD ($) | Apr. 13, 2018 | Jun. 30, 2018 | Jun. 30, 2017 |
Total purchase price for BYBK acquisition | $ 143,619,077 | $ 40,850,410 | |
Total liabilities assumed | 588,153,791 | 285,421,333 | |
Total Purchase Price | $ 143,619,077 | $ 40,850,410 | |
Bay Bancorp, Inc [Member] | |||
Cash consideration | $ 973,383 | ||
Purchase price assigned to shares exchanged for stock | 142,645,695 | ||
Total purchase price for BYBK acquisition | 143,619,078 | ||
Cash and due from banks | 22,590,994 | ||
Investment securities | 51,895,757 | ||
Restricted equity securities, at cost | 2,339,700 | ||
Loans, net | 546,215,988 | ||
Premises and equipment | 3,127,963 | ||
Accrued interest receivable | 1,714,054 | ||
Accrued taxes receivable | 1,912,807 | ||
Deferred income taxes | 2,637,668 | ||
Bank owned life insurance | 16,319,198 | ||
Other real estate owned | 1,041,079 | ||
Core deposit intangible | 11,243,714 | ||
Other assets | 1,413,987 | ||
Total assets acquired | 662,452,909 | ||
Deposits | 541,368,907 | ||
Short term borrowings | 41,100,000 | ||
Other liabilities | 5,684,884 | ||
Total liabilities assumed | 588,153,791 | ||
Fair Value of net assets acquired | 74,299,118 | ||
Total Purchase Price | 143,619,078 | ||
Goodwill recorded for BYBK | $ 69,319,960 |
Note 2 - Acquisition of Bay B30
Note 2 - Acquisition of Bay Bancorp, Inc. - Pro Forma Information (Details) - Bay Bancorp, Inc [Member] - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Total revenues (net interest income plus noninterest income) | $ 27,473 | $ 54,937 | ||
Total revenues (net interest income plus noninterest income) | $ 24,269 | $ 47,774 | ||
Net adjusted income available to common stockholder | $ 9,075 | $ 16,565 | ||
Net adjusted income available to common stockholder | $ 5,175 | $ 10,086 |
Note 3 - Investment Securitie31
Note 3 - Investment Securities (Details Textual) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2018USD ($) | Jun. 30, 2017USD ($) | Jun. 30, 2018USD ($) | Jun. 30, 2017USD ($) | Apr. 13, 2018USD ($) | Dec. 31, 2017 | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Number of Positions | 120 | 120 | 56 | |||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Number of Positions | 75 | 75 | 56 | |||
Proceeds from Sale and Maturity of Debt Securities, Available-for-sale, Total | $ 57,000 | $ 19,300 | $ 63,200 | $ 27,700 | ||
Debt Securities, Available-for-sale, Gain (Loss), Total | 0 | 0 | ||||
Debt Securities, Available-for-sale, Realized Gain | 148 | 164 | ||||
Debt Securities, Available-for-sale, Realized Loss | 129 | 129 | ||||
Debt Securities, Available-for-sale, Realized Gain (Loss), Total | $ 20 | $ 35 | ||||
Bay Bancorp, Inc [Member] | ||||||
Proceeds from Sale and Maturity of Debt Securities, Available-for-sale, Total | $ 51,700 | $ 51,700 | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Investment Portfolio | $ 55,800 |
Note 3 - Investment Securitie32
Note 3 - Investment Securities - Amortized Cost and Fair Value (Details) - USD ($) | Jun. 30, 2018 | Dec. 31, 2017 |
Amortized cost | $ 218,583,460 | $ 222,208,968 |
Gross unrealized gains | 125,709 | 273,656 |
Gross unrealized losses | (8,767,635) | (4,130,066) |
Estimated fair value | 209,941,534 | 218,352,558 |
US Treasury Securities [Member] | ||
Amortized cost | 3,009,331 | 3,007,728 |
Gross unrealized gains | ||
Gross unrealized losses | (11,206) | (2,337) |
Estimated fair value | 2,998,125 | 3,005,391 |
US Government Agencies Debt Securities [Member] | ||
Amortized cost | 18,979,460 | 18,001,200 |
Gross unrealized gains | ||
Gross unrealized losses | (632,196) | (267,434) |
Estimated fair value | 18,347,264 | 17,733,766 |
Corporate Debt Securities [Member] | ||
Amortized cost | 18,118,611 | 14,621,378 |
Gross unrealized gains | 97,514 | 144,574 |
Gross unrealized losses | (18,746) | (107,893) |
Estimated fair value | 18,197,379 | 14,658,059 |
US States and Political Subdivisions Debt Securities [Member] | ||
Amortized cost | 79,806,457 | 80,791,431 |
Gross unrealized gains | 27,034 | 126,566 |
Gross unrealized losses | (2,811,688) | (1,362,709) |
Estimated fair value | 77,021,803 | 79,555,288 |
Federal Home Loan Mortgage Corporation Certificates and Obligations (FHLMC) [Member] | ||
Amortized cost | 18,625,051 | 19,907,299 |
Gross unrealized gains | 1,161 | 2,516 |
Gross unrealized losses | (1,051,132) | (455,580) |
Estimated fair value | 17,575,080 | 19,454,235 |
Federal National Mortgage Association Certificates and Obligations (FNMA) [Member] | ||
Amortized cost | 60,025,658 | 64,476,038 |
Gross unrealized gains | ||
Gross unrealized losses | (3,239,521) | (1,530,121) |
Estimated fair value | 56,786,137 | 62,945,917 |
Government National Mortgage Association Certificates and Obligations (GNMA) [Member] | ||
Amortized cost | 20,018,892 | 21,403,894 |
Gross unrealized gains | ||
Gross unrealized losses | (1,003,146) | (403,992) |
Estimated fair value | $ 19,015,746 | $ 20,999,902 |
Note 3 - Investment Securitie33
Note 3 - Investment Securities - Unrealized Losses (Details) - USD ($) | Jun. 30, 2018 | Dec. 31, 2017 |
Less than 12 months, fair value | $ 58,637,327 | $ 60,067,492 |
Less than 12 months, unrealized losses | 1,642,257 | 526,241 |
12 months or more, fair value | 126,544,176 | 130,232,397 |
12 months or more, unrealized losses | 7,125,378 | 3,603,825 |
Total, fair value | 185,181,504 | 190,299,890 |
Total, unrealized losses | 8,767,635 | 4,130,066 |
US Treasury Securities [Member] | ||
Less than 12 months, fair value | 2,998,125 | 1,506,328 |
Less than 12 months, unrealized losses | 11,206 | 1,422 |
12 months or more, fair value | 1,499,063 | |
12 months or more, unrealized losses | 915 | |
Total, fair value | 2,998,125 | 3,005,391 |
Total, unrealized losses | 11,206 | 2,337 |
US Government Agencies Debt Securities [Member] | ||
Less than 12 months, fair value | 6,092,356 | 12,266,502 |
Less than 12 months, unrealized losses | 192,649 | 93,043 |
12 months or more, fair value | 12,254,908 | 5,467,264 |
12 months or more, unrealized losses | 439,547 | 174,391 |
Total, fair value | 18,347,264 | 17,733,766 |
Total, unrealized losses | 632,196 | 267,434 |
Corporate Debt Securities [Member] | ||
Less than 12 months, fair value | 3,481,254 | 9,407,810 |
Less than 12 months, unrealized losses | 18,746 | 107,893 |
12 months or more, fair value | ||
12 months or more, unrealized losses | ||
Total, fair value | 3,481,254 | 9,407,810 |
Total, unrealized losses | 18,746 | 107,893 |
US States and Political Subdivisions Debt Securities [Member] | ||
Less than 12 months, fair value | 35,446,399 | 25,548,751 |
Less than 12 months, unrealized losses | 929,662 | 189,668 |
12 months or more, fair value | 31,628,806 | 31,343,394 |
12 months or more, unrealized losses | 1,882,026 | 1,173,041 |
Total, fair value | 67,075,205 | 56,892,145 |
Total, unrealized losses | 2,811,688 | 1,362,709 |
Federal Home Loan Mortgage Corporation Certificates and Obligations (FHLMC) [Member] | ||
Less than 12 months, fair value | ||
Less than 12 months, unrealized losses | ||
12 months or more, fair value | 17,477,773 | 19,314,957 |
12 months or more, unrealized losses | 1,051,132 | 455,580 |
Total, fair value | 17,477,773 | 19,314,957 |
Total, unrealized losses | 1,051,132 | 455,580 |
Federal National Mortgage Association Certificates and Obligations (FNMA) [Member] | ||
Less than 12 months, fair value | 2,339,754 | 2,516,080 |
Less than 12 months, unrealized losses | 95,229 | 19,937 |
12 months or more, fair value | 54,446,383 | 60,429,837 |
12 months or more, unrealized losses | 3,144,292 | 1,510,184 |
Total, fair value | 56,786,137 | 62,945,917 |
Total, unrealized losses | 3,239,521 | 1,530,121 |
Government National Mortgage Association Certificates and Obligations (GNMA) [Member] | ||
Less than 12 months, fair value | 8,279,439 | 8,822,021 |
Less than 12 months, unrealized losses | 394,765 | 114,278 |
12 months or more, fair value | 10,736,306 | 12,177,882 |
12 months or more, unrealized losses | 608,381 | 289,714 |
Total, fair value | 19,015,746 | 20,999,904 |
Total, unrealized losses | $ 1,003,146 | $ 403,992 |
Note 3 - Investment Securitie34
Note 3 - Investment Securities - Contractual Maturities (Details) | Jun. 30, 2018USD ($) |
Within one year, amortized cost | $ 4,091,416 |
Within one year, fair value | 4,081,040 |
Over one to five years, amortized cost | 4,800,322 |
Over one to five years, fair value | 4,774,281 |
Over five to ten years, amortized cost | 57,310,148 |
Over five to ten years, fair value | 55,765,738 |
Over ten years, amortized cost | 152,381,574 |
Over ten years, fair value | 145,320,475 |
Total, amortized cost | 218,583,460 |
Total, fair value | 209,941,534 |
Pledged securities, amortized cost | 68,010,493 |
Pledged securities, fair value | $ 64,632,017 |
Note 4 - Loans (Details Textual
Note 4 - Loans (Details Textual) | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2018USD ($) | Jun. 30, 2017USD ($) | Jun. 30, 2018USD ($) | Jun. 30, 2017USD ($) | Apr. 13, 2018USD ($) | Dec. 31, 2017USD ($) | |
Loans and Leases Receivable, Gross, Total | $ 2,352,162,215 | $ 1,450,805,817 | $ 2,352,162,215 | $ 1,450,805,817 | $ 1,700,268,583 | |
Number of Restructured Loans | 7 | 7 | 7 | |||
Financing Receivable, Modifications, Recorded Investment | $ 2,400,000 | $ 2,400,000 | $ 2,700,000 | |||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 0 | 0 | 0 | 0 | ||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Acquired During Period, Consumer, Contractually Required Payments Receivable at Acquisition | $ 14,766 | |||||
Impaired Financing Receivable, Recorded Investment, Total | $ 8,217,677 | $ 8,217,677 | 6,615,350 | |||
Certain Loans Acquired in Transfer, Nonaccretable Difference | 3,201 | |||||
Transfer of Portfolio Loans and Leases to Held-for-sale | 21,643,292 | |||||
Bay Bancorp, Inc [Member] | ||||||
Receivable with Imputed Interest, Discount | $ 8,300,000 | |||||
Number of Loans and Leases Receivable Impaired Evaluated | 132 | |||||
Impaired Financing Receivable, Recorded Investment, Total | $ 13,500,000 | |||||
Certain Loans Acquired in Transfer, Nonaccretable Difference | $ 3,200,000 | |||||
Performing Financial Instruments [Member] | Bay Bancorp, Inc [Member] | ||||||
Number of Loans and Leases Receivable Evaluated | 1,991 | |||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Acquired During Period, Consumer, Contractually Required Payments Receivable at Acquisition | $ 520,500,000 | |||||
Commercial Real Estate Portfolio Segment [Member] | ||||||
Loans and Leases Receivable, Gross, Total | 1,488,347,678 | $ 1,013,530,210 | 1,488,347,678 | 1,013,530,210 | 1,100,000,000 | |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | ||||||
Loans and Leases Receivable, Gross, Total | $ 427,974,518 | $ 427,974,518 | 355,786,942 | |||
Loan to Value Maximum Threshold | 80.00% | 80.00% | ||||
Commercial Real Estate Portfolio Segment [Member] | Investment [Member] | ||||||
Loans and Leases Receivable, Gross, Total | $ 796,024,773 | $ 796,024,773 | 538,463,660 | |||
Loan to Value Maximum Threshold | 75.00% | 75.00% | ||||
Commercial Real Estate Portfolio Segment [Member] | Hospitality Industry [Member] | ||||||
Loans and Leases Receivable, Gross, Total | $ 169,097,564 | $ 169,097,564 | 171,588,414 | |||
Residential Portfolio Segment [Member] | ||||||
Loans and Leases Receivable, Gross, Total | $ 496,600,307 | 278,014,464 | $ 496,600,307 | 278,014,464 | 310,700,000 | |
Loan to Value Maximum Threshold | 85.00% | 85.00% | ||||
Borrowers Debt to Income Ratio Maximum Threshold, Percent | 43.00% | 43.00% | ||||
Residential Portfolio Segment [Member] | Minimum [Member] | ||||||
Loan Limits Amount | $ 453,100 | $ 453,100 | ||||
Residential Portfolio Segment [Member] | Maximum [Member] | ||||||
Loan Limits Amount, Maximum, Threshold for Certain Designated Areas | $ 679,650 | $ 679,650 | ||||
Residential Portfolio Segment [Member] | Construction Loans [Member] | ||||||
Loan to Value Maximum Threshold | 80.00% | 80.00% | ||||
Consumer Portfolio Segment [Member] | ||||||
Loans and Leases Receivable, Gross, Total | $ 59,544,199 | $ 4,493,738 | $ 59,544,199 | $ 4,493,738 | $ 59,841,340 | |
Borrowers Debt to Income Ratio Maximum Threshold, Percent | 40.00% | 40.00% |
Note 4 - Loans - Loans Held (De
Note 4 - Loans - Loans Held (Details) - USD ($) | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | |
Loans | $ 2,352,162,215 | $ 1,700,268,583 | $ 1,450,805,817 | ||||
Allowance for loan losses | (6,704,577) | $ (6,257,519) | (5,920,586) | (5,911,842) | $ (5,609,789) | $ (6,195,469) | |
Deferred loan costs, net | 2,363,858 | 2,013,434 | |||||
Net loans | 2,347,821,496 | 1,696,361,431 | |||||
Commercial Real Estate Portfolio Segment [Member] | |||||||
Loans | 1,488,347,678 | 1,100,000,000 | 1,013,530,210 | ||||
Allowance for loan losses | (4,196,752) | (4,231,433) | (3,783,735) | (3,789,423) | (3,683,260) | (3,990,152) | |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | |||||||
Loans | 427,974,518 | 355,786,942 | |||||
Commercial Real Estate Portfolio Segment [Member] | Investment [Member] | |||||||
Loans | 796,024,773 | 538,463,660 | |||||
Commercial Real Estate Portfolio Segment [Member] | Hospitality Industry [Member] | |||||||
Loans | 169,097,564 | 171,588,414 | |||||
Commercial Real Estate Portfolio Segment [Member] | Land and A&D [Member] | |||||||
Loans | 95,250,821 | 76,541,431 | |||||
Residential Portfolio Segment [Member] | |||||||
Loans | 496,600,307 | 310,700,000 | 278,014,464 | ||||
Allowance for loan losses | (749,630) | (776,298) | (844,355) | (793,795) | (684,541) | (823,520) | |
Residential Portfolio Segment [Member] | Residential First Investment [Member] | |||||||
Loans | 135,931,293 | 100,983,200 | |||||
Residential Portfolio Segment [Member] | Residential First Owner Occupied [Member] | |||||||
Loans | 229,654,986 | 129,762,493 | |||||
Residential Portfolio Segment [Member] | Residential Land and A&D [Member] | |||||||
Loans | 63,757,830 | 42,416,013 | |||||
Residential Portfolio Segment [Member] | HELOC and Jr Liens [Member] | |||||||
Loans | 67,256,200 | 37,539,757 | |||||
Commercial and Industrial [Member] | |||||||
Loans | 307,670,031 | 187,345,333 | |||||
Consumer Portfolio Segment [Member] | |||||||
Loans | 59,544,199 | 59,841,340 | 4,493,738 | ||||
Allowance for loan losses | (77,747) | $ (37,830) | (30,466) | $ (10,377) | $ (8,836) | $ (9,562) | |
Legacy [Member] | |||||||
Loans | [1] | 1,543,113,460 | 1,354,572,703 | ||||
Allowance for loan losses | [1] | (6,444,307) | (5,738,534) | ||||
Deferred loan costs, net | [1] | 2,363,858 | 2,013,434 | ||||
Net loans | [1] | 1,539,033,011 | 1,350,847,603 | ||||
Legacy [Member] | Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | |||||||
Loans | [1] | 270,562,704 | 268,128,087 | ||||
Legacy [Member] | Commercial Real Estate Portfolio Segment [Member] | Investment [Member] | |||||||
Loans | [1] | 590,644,980 | 485,536,921 | ||||
Legacy [Member] | Commercial Real Estate Portfolio Segment [Member] | Hospitality Industry [Member] | |||||||
Loans | [1] | 161,865,109 | 164,193,228 | ||||
Legacy [Member] | Commercial Real Estate Portfolio Segment [Member] | Land and A&D [Member] | |||||||
Loans | [1] | 67,568,009 | 67,310,660 | ||||
Legacy [Member] | Residential Portfolio Segment [Member] | Residential First Investment [Member] | |||||||
Loans | [1] | 82,241,881 | 79,762,682 | ||||
Legacy [Member] | Residential Portfolio Segment [Member] | Residential First Owner Occupied [Member] | |||||||
Loans | [1] | 83,951,550 | 67,237,699 | ||||
Legacy [Member] | Residential Portfolio Segment [Member] | Residential Land and A&D [Member] | |||||||
Loans | [1] | 42,156,325 | 35,879,853 | ||||
Legacy [Member] | Residential Portfolio Segment [Member] | HELOC and Jr Liens [Member] | |||||||
Loans | [1] | 21,917,531 | 21,520,339 | ||||
Legacy [Member] | Commercial and Industrial [Member] | |||||||
Loans | [1] | 205,131,858 | 154,244,645 | ||||
Legacy [Member] | Consumer Portfolio Segment [Member] | |||||||
Loans | [1] | 17,073,513 | 10,758,589 | ||||
Acquired [Member] | |||||||
Loans | 809,048,755 | 345,695,880 | |||||
Allowance for loan losses | (260,270) | (182,052) | |||||
Deferred loan costs, net | |||||||
Net loans | 808,788,485 | 345,513,828 | |||||
Acquired [Member] | Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | |||||||
Loans | 157,411,814 | 87,658,855 | |||||
Acquired [Member] | Commercial Real Estate Portfolio Segment [Member] | Investment [Member] | |||||||
Loans | 205,379,793 | 52,926,739 | |||||
Acquired [Member] | Commercial Real Estate Portfolio Segment [Member] | Hospitality Industry [Member] | |||||||
Loans | 7,232,455 | 7,395,186 | |||||
Acquired [Member] | Commercial Real Estate Portfolio Segment [Member] | Land and A&D [Member] | |||||||
Loans | 27,682,812 | 9,230,771 | |||||
Acquired [Member] | Residential Portfolio Segment [Member] | Residential First Investment [Member] | |||||||
Loans | 53,689,412 | 21,220,518 | |||||
Acquired [Member] | Residential Portfolio Segment [Member] | Residential First Owner Occupied [Member] | |||||||
Loans | 145,703,436 | 62,524,794 | |||||
Acquired [Member] | Residential Portfolio Segment [Member] | Residential Land and A&D [Member] | |||||||
Loans | 21,601,505 | 6,536,160 | |||||
Acquired [Member] | Residential Portfolio Segment [Member] | HELOC and Jr Liens [Member] | |||||||
Loans | 45,338,669 | 16,019,418 | |||||
Acquired [Member] | Commercial and Industrial [Member] | |||||||
Loans | 102,538,173 | 33,100,688 | |||||
Acquired [Member] | Consumer Portfolio Segment [Member] | |||||||
Loans | $ 42,470,686 | $ 49,082,751 | |||||
[1] | As a result of the acquisitions of Maryland Bankcorp, Inc. ("Maryland Bankcorp"), the parent company of Maryland Bank & Trust Company, N.A. ("MB&T"), in April 2011, WSB Holdings Inc., the parent company of The Washington Savings Bank ("WSB"), in May 2013, Regal Bancorp, Inc. ("Regal"), the parent company of Regal Bank & Trust ("Regal Bank"), in December 2015, DCB Bancshares, Inc. ("DCB"), the parent company of Damascus Community Bank ("Damascus"), in July 2017 and BYBK, the parent company of Bay Bank, in April 2018, we have segmented the portfolio into two components, "Legacy" loans originated by Old Line Bank and "Acquired" loans acquired from MB&T, WSB, Regal Bank, Damascus and Bay Bank. |
Note 4 - Loans - Past Due Loans
Note 4 - Loans - Past Due Loans (Details) - USD ($) | Jun. 30, 2018 | Dec. 31, 2017 | Jun. 30, 2017 | |
Current | $ 2,330,737,973 | $ 1,691,320,409 | ||
Accruing past due loans | 18,874,213 | 7,183,523 | ||
Non-accruing loans | 2,550,029 | 1,764,651 | ||
Total Loans | 2,352,162,215 | 1,700,268,583 | $ 1,450,805,817 | |
Commercial Real Estate Portfolio Segment [Member] | ||||
Total Loans | 1,488,347,678 | 1,100,000,000 | 1,013,530,210 | |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | ||||
Non-accruing loans | 231,425 | 228,555 | ||
Total Loans | 427,974,518 | 355,786,942 | ||
Commercial Real Estate Portfolio Segment [Member] | Investment [Member] | ||||
Total Loans | 796,024,773 | 538,463,660 | ||
Commercial Real Estate Portfolio Segment [Member] | Land and A&D [Member] | ||||
Non-accruing loans | 473,875 | 190,193 | ||
Total Loans | 95,250,821 | 76,541,431 | ||
Commercial Real Estate Portfolio Segment [Member] | Hospitality Industry [Member] | ||||
Non-accruing loans | ||||
Total Loans | 169,097,564 | 171,588,414 | ||
Residential Portfolio Segment [Member] | ||||
Total Loans | 496,600,307 | 310,700,000 | 278,014,464 | |
Residential Portfolio Segment [Member] | Land and A&D [Member] | ||||
Non-accruing loans | ||||
Residential Portfolio Segment [Member] | Residential First Investment [Member] | ||||
Non-accruing loans | 192,501 | 192,501 | ||
Total Loans | 135,931,293 | 100,983,200 | ||
Residential Portfolio Segment [Member] | Residential First Owner Occupied [Member] | ||||
Non-accruing loans | 1,580,271 | 1,153,402 | ||
Total Loans | 229,654,986 | 129,762,493 | ||
Residential Portfolio Segment [Member] | HELOC and Jr Liens [Member] | ||||
Total Loans | 67,256,200 | 37,539,757 | ||
Commercial Portfolio Segment [Member] | ||||
Non-accruing loans | 45,218 | |||
Total Loans | 307,670,031 | 154,767,405 | ||
Commercial Portfolio Segment [Member] | Investment [Member] | ||||
Non-accruing loans | ||||
Consumer Portfolio Segment [Member] | ||||
Non-accruing loans | 26,739 | |||
Total Loans | 59,544,199 | 59,841,340 | $ 4,493,738 | |
Financing Receivables 30 To 89 Days Past Due [Member] | ||||
Accruing past due loans | 18,335,652 | 7,067,556 | ||
Financing Receivables 30 To 89 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | ||||
Accruing past due loans | 4,011,759 | |||
Financing Receivables 30 To 89 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Investment [Member] | ||||
Accruing past due loans | 2,529,080 | 1,932,728 | ||
Financing Receivables 30 To 89 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Land and A&D [Member] | ||||
Accruing past due loans | 4,262,279 | 413,824 | ||
Financing Receivables 30 To 89 Days Past Due [Member] | Residential Portfolio Segment [Member] | Residential First Investment [Member] | ||||
Accruing past due loans | 917,387 | 777,422 | ||
Financing Receivables 30 To 89 Days Past Due [Member] | Residential Portfolio Segment [Member] | Residential First Owner Occupied [Member] | ||||
Accruing past due loans | 2,649,943 | 2,457,528 | ||
Financing Receivables 30 To 89 Days Past Due [Member] | Residential Portfolio Segment [Member] | HELOC and Jr Liens [Member] | ||||
Accruing past due loans | 1,635,891 | 130,556 | ||
Financing Receivables 30 To 89 Days Past Due [Member] | Commercial Portfolio Segment [Member] | ||||
Accruing past due loans | 1,082,803 | 312,169 | ||
Financing Receivables 30 To 89 Days Past Due [Member] | Consumer Portfolio Segment [Member] | ||||
Accruing past due loans | 1,246,510 | 1,043,329 | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||||
Accruing past due loans | 538,561 | 115,967 | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Residential Portfolio Segment [Member] | Residential First Owner Occupied [Member] | ||||
Accruing past due loans | 247,102 | 37,560 | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial Portfolio Segment [Member] | ||||
Accruing past due loans | 179,000 | |||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Consumer Portfolio Segment [Member] | ||||
Accruing past due loans | 112,459 | 78,407 | ||
Legacy [Member] | ||||
Current | 1,537,628,464 | 1,352,406,852 | ||
Accruing past due loans | 4,743,454 | 1,692,220 | ||
Non-accruing loans | 741,542 | 473,631 | ||
Total Loans | [1] | 1,543,113,460 | 1,354,572,703 | |
Legacy [Member] | Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | ||||
Non-accruing loans | ||||
Total Loans | [1] | 270,562,704 | 268,128,087 | |
Legacy [Member] | Commercial Real Estate Portfolio Segment [Member] | Investment [Member] | ||||
Total Loans | [1] | 590,644,980 | 485,536,921 | |
Legacy [Member] | Commercial Real Estate Portfolio Segment [Member] | Land and A&D [Member] | ||||
Non-accruing loans | 277,704 | |||
Total Loans | [1] | 67,568,009 | 67,310,660 | |
Legacy [Member] | Commercial Real Estate Portfolio Segment [Member] | Hospitality Industry [Member] | ||||
Non-accruing loans | ||||
Total Loans | [1] | 161,865,109 | 164,193,228 | |
Legacy [Member] | Residential Portfolio Segment [Member] | Land and A&D [Member] | ||||
Non-accruing loans | ||||
Legacy [Member] | Residential Portfolio Segment [Member] | Residential First Investment [Member] | ||||
Non-accruing loans | 192,501 | 192,501 | ||
Total Loans | [1] | 82,241,881 | 79,762,682 | |
Legacy [Member] | Residential Portfolio Segment [Member] | Residential First Owner Occupied [Member] | ||||
Non-accruing loans | 271,337 | 281,130 | ||
Total Loans | [1] | 83,951,550 | 67,237,699 | |
Legacy [Member] | Residential Portfolio Segment [Member] | HELOC and Jr Liens [Member] | ||||
Total Loans | [1] | 21,917,531 | 21,520,339 | |
Legacy [Member] | Commercial Portfolio Segment [Member] | ||||
Non-accruing loans | ||||
Legacy [Member] | Commercial Portfolio Segment [Member] | Investment [Member] | ||||
Non-accruing loans | ||||
Legacy [Member] | Consumer Portfolio Segment [Member] | ||||
Non-accruing loans | ||||
Total Loans | [1] | 17,073,513 | 10,758,589 | |
Legacy [Member] | Financing Receivables 30 To 89 Days Past Due [Member] | ||||
Accruing past due loans | 4,565,481 | 1,692,220 | ||
Legacy [Member] | Financing Receivables 30 To 89 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | ||||
Accruing past due loans | 2,703,169 | |||
Legacy [Member] | Financing Receivables 30 To 89 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Investment [Member] | ||||
Accruing past due loans | 291,278 | 1,089,022 | ||
Legacy [Member] | Financing Receivables 30 To 89 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Land and A&D [Member] | ||||
Accruing past due loans | 678,870 | 254,925 | ||
Legacy [Member] | Financing Receivables 30 To 89 Days Past Due [Member] | Residential Portfolio Segment [Member] | Residential First Investment [Member] | ||||
Accruing past due loans | 181,994 | 270,822 | ||
Legacy [Member] | Financing Receivables 30 To 89 Days Past Due [Member] | Residential Portfolio Segment [Member] | Residential First Owner Occupied [Member] | ||||
Accruing past due loans | 94,743 | 229 | ||
Legacy [Member] | Financing Receivables 30 To 89 Days Past Due [Member] | Residential Portfolio Segment [Member] | HELOC and Jr Liens [Member] | ||||
Accruing past due loans | 192,937 | |||
Legacy [Member] | Financing Receivables 30 To 89 Days Past Due [Member] | Commercial Portfolio Segment [Member] | ||||
Accruing past due loans | 333,010 | 51,088 | ||
Legacy [Member] | Financing Receivables 30 To 89 Days Past Due [Member] | Consumer Portfolio Segment [Member] | ||||
Accruing past due loans | 89,480 | 26,134 | ||
Legacy [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||||
Accruing past due loans | 177,973 | |||
Legacy [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Residential Portfolio Segment [Member] | Residential First Owner Occupied [Member] | ||||
Accruing past due loans | ||||
Legacy [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial Portfolio Segment [Member] | ||||
Accruing past due loans | 177,973 | |||
Legacy [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Consumer Portfolio Segment [Member] | ||||
Accruing past due loans | ||||
Acquired [Member] | ||||
Current | 793,109,509 | 338,913,557 | ||
Accruing past due loans | 14,130,759 | 5,491,303 | ||
Non-accruing loans | 1,808,487 | 1,291,020 | ||
Total Loans | 809,048,755 | 345,695,880 | ||
Acquired [Member] | Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | ||||
Non-accruing loans | 231,425 | 228,555 | ||
Total Loans | 157,411,814 | 87,658,855 | ||
Acquired [Member] | Commercial Real Estate Portfolio Segment [Member] | Investment [Member] | ||||
Total Loans | 205,379,793 | 52,926,739 | ||
Acquired [Member] | Commercial Real Estate Portfolio Segment [Member] | Land and A&D [Member] | ||||
Non-accruing loans | 196,171 | 190,193 | ||
Total Loans | 27,682,812 | 9,230,771 | ||
Acquired [Member] | Commercial Real Estate Portfolio Segment [Member] | Hospitality Industry [Member] | ||||
Non-accruing loans | ||||
Total Loans | 7,232,455 | 7,395,186 | ||
Acquired [Member] | Residential Portfolio Segment [Member] | Land and A&D [Member] | ||||
Non-accruing loans | ||||
Acquired [Member] | Residential Portfolio Segment [Member] | Residential First Investment [Member] | ||||
Non-accruing loans | ||||
Total Loans | 53,689,412 | 21,220,518 | ||
Acquired [Member] | Residential Portfolio Segment [Member] | Residential First Owner Occupied [Member] | ||||
Non-accruing loans | 1,308,934 | 872,272 | ||
Total Loans | 145,703,436 | 62,524,794 | ||
Acquired [Member] | Residential Portfolio Segment [Member] | HELOC and Jr Liens [Member] | ||||
Total Loans | 45,338,669 | 16,019,418 | ||
Acquired [Member] | Commercial Portfolio Segment [Member] | ||||
Non-accruing loans | 45,218 | |||
Acquired [Member] | Commercial Portfolio Segment [Member] | Investment [Member] | ||||
Non-accruing loans | ||||
Acquired [Member] | Consumer Portfolio Segment [Member] | ||||
Non-accruing loans | 26,739 | |||
Total Loans | 42,470,686 | 49,082,751 | ||
Acquired [Member] | Financing Receivables 30 To 89 Days Past Due [Member] | ||||
Accruing past due loans | 13,770,171 | 5,375,336 | ||
Acquired [Member] | Financing Receivables 30 To 89 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | ||||
Accruing past due loans | 1,308,590 | |||
Acquired [Member] | Financing Receivables 30 To 89 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Investment [Member] | ||||
Accruing past due loans | 2,237,802 | 843,706 | ||
Acquired [Member] | Financing Receivables 30 To 89 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Land and A&D [Member] | ||||
Accruing past due loans | 3,583,409 | 158,899 | ||
Acquired [Member] | Financing Receivables 30 To 89 Days Past Due [Member] | Residential Portfolio Segment [Member] | Residential First Investment [Member] | ||||
Accruing past due loans | 735,393 | 506,600 | ||
Acquired [Member] | Financing Receivables 30 To 89 Days Past Due [Member] | Residential Portfolio Segment [Member] | Residential First Owner Occupied [Member] | ||||
Accruing past due loans | 2,555,200 | 2,457,299 | ||
Acquired [Member] | Financing Receivables 30 To 89 Days Past Due [Member] | Residential Portfolio Segment [Member] | HELOC and Jr Liens [Member] | ||||
Accruing past due loans | 1,442,954 | 130,556 | ||
Acquired [Member] | Financing Receivables 30 To 89 Days Past Due [Member] | Commercial Portfolio Segment [Member] | ||||
Accruing past due loans | 749,793 | 261,081 | ||
Acquired [Member] | Financing Receivables 30 To 89 Days Past Due [Member] | Consumer Portfolio Segment [Member] | ||||
Accruing past due loans | 1,157,030 | 1,017,195 | ||
Acquired [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||||
Accruing past due loans | 360,588 | 115,967 | ||
Acquired [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Residential Portfolio Segment [Member] | Residential First Owner Occupied [Member] | ||||
Accruing past due loans | 247,102 | 37,560 | ||
Acquired [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial Portfolio Segment [Member] | ||||
Accruing past due loans | 1,027 | |||
Acquired [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Consumer Portfolio Segment [Member] | ||||
Accruing past due loans | $ 112,459 | $ 78,407 | ||
[1] | As a result of the acquisitions of Maryland Bankcorp, Inc. ("Maryland Bankcorp"), the parent company of Maryland Bank & Trust Company, N.A. ("MB&T"), in April 2011, WSB Holdings Inc., the parent company of The Washington Savings Bank ("WSB"), in May 2013, Regal Bancorp, Inc. ("Regal"), the parent company of Regal Bank & Trust ("Regal Bank"), in December 2015, DCB Bancshares, Inc. ("DCB"), the parent company of Damascus Community Bank ("Damascus"), in July 2017 and BYBK, the parent company of Bay Bank, in April 2018, we have segmented the portfolio into two components, "Legacy" loans originated by Old Line Bank and "Acquired" loans acquired from MB&T, WSB, Regal Bank, Damascus and Bay Bank. |
Note 4 - Loans - Impaired Loans
Note 4 - Loans - Impaired Loans (Details) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018 | Jun. 30, 2018 | Dec. 31, 2017 | |
Related allowance | $ 431,431 | $ 431,431 | $ 424,663 |
Unpaid principal balance, total | 10,142,818 | 10,142,818 | 7,074,108 |
Recorded investment, total | 8,217,677 | 8,217,677 | 6,615,350 |
Interest income recognized, total | 87,558 | 168,854 | 266,577 |
Average recorded investment, total | 11,693,954 | 11,748,328 | 7,434,872 |
Legacy [Member] | |||
Related allowance | 171,161 | 171,161 | 242,610 |
Average recorded investment, with an allowance recorded | 4,695,738 | 4,736,535 | |
Unpaid principal balance, total | 4,688,666 | 4,688,666 | 4,502,108 |
Recorded investment, total | 4,688,666 | 4,688,666 | 4,502,108 |
Interest income recognized, total | 51,470 | 111,752 | 198,746 |
Average recorded investment, total | 4,821,268 | ||
Legacy [Member] | Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | |||
Unpaid principal balance, with no related allowance recorded | 1,767,387 | 1,767,387 | 1,797,030 |
Recorded investment, with no related allowance recorded | 1,767,387 | 1,767,387 | 1,797,030 |
Average recorded investment, with no related allowance recorded | 1,764,445 | 1,779,111 | 1,913,873 |
Interest income recognized, with no related allowance recorded | 18,682 | 42,401 | 70,623 |
Legacy [Member] | Commercial Real Estate Portfolio Segment [Member] | Investment [Member] | |||
Unpaid principal balance, with no related allowance recorded | 651,195 | 651,195 | 1,155,595 |
Recorded investment, with no related allowance recorded | 651,195 | 651,195 | 1,155,595 |
Average recorded investment, with no related allowance recorded | 650,816 | 656,802 | 1,183,738 |
Interest income recognized, with no related allowance recorded | 8,676 | 16,722 | 51,806 |
Unpaid principal balance, with an allowance recorded | 592,432 | ||
Recorded investment, with an allowance recorded | 592,432 | ||
Related allowance | 69,903 | ||
Average recorded investment, with an allowance recorded | 601,959 | ||
Interest income recognized, with an allowance recorded | 30,576 | ||
Legacy [Member] | Commercial Real Estate Portfolio Segment [Member] | Land and A&D [Member] | |||
Unpaid principal balance, with no related allowance recorded | 277,704 | 277,704 | |
Recorded investment, with no related allowance recorded | 277,704 | 277,704 | |
Average recorded investment, with no related allowance recorded | 277,704 | 277,704 | |
Interest income recognized, with no related allowance recorded | |||
Legacy [Member] | Residential Portfolio Segment [Member] | Residential First Owner Occupied [Member] | |||
Unpaid principal balance, with no related allowance recorded | 219,996 | 219,996 | 226,554 |
Recorded investment, with no related allowance recorded | 219,996 | 219,996 | 226,554 |
Average recorded investment, with no related allowance recorded | 229,901 | 230,466 | 233,618 |
Interest income recognized, with no related allowance recorded | 4,200 | 6,449 | 10,536 |
Unpaid principal balance, with an allowance recorded | 51,341 | 51,341 | 54,576 |
Recorded investment, with an allowance recorded | 51,341 | 51,341 | 54,576 |
Related allowance | 37,076 | 37,076 | 37,075 |
Average recorded investment, with an allowance recorded | 55,830 | 56,621 | 217,673 |
Interest income recognized, with an allowance recorded | 1,134 | ||
Legacy [Member] | Residential Portfolio Segment [Member] | Residential First Investment [Member] | |||
Unpaid principal balance, with no related allowance recorded | 192,501 | 192,501 | |
Recorded investment, with no related allowance recorded | 192,501 | 192,501 | |
Average recorded investment, with no related allowance recorded | 192,501 | 192,501 | |
Interest income recognized, with no related allowance recorded | |||
Unpaid principal balance, with an allowance recorded | 1,065,222 | 1,065,222 | 192,501 |
Recorded investment, with an allowance recorded | 1,065,222 | 1,065,222 | 192,501 |
Related allowance | 39,420 | 39,420 | 39,420 |
Average recorded investment, with an allowance recorded | 1,063,646 | 1,072,506 | 192,501 |
Interest income recognized, with an allowance recorded | 14,968 | 34,438 | |
Legacy [Member] | Commercial Portfolio Segment [Member] | |||
Unpaid principal balance, with no related allowance recorded | 368,654 | 368,654 | 387,208 |
Recorded investment, with no related allowance recorded | 368,654 | 368,654 | 387,208 |
Average recorded investment, with no related allowance recorded | 366,484 | 375,616 | 379,983 |
Interest income recognized, with no related allowance recorded | 3,355 | 7,798 | 30,245 |
Unpaid principal balance, with an allowance recorded | 94,666 | 94,666 | 96,212 |
Recorded investment, with an allowance recorded | 94,666 | 94,666 | 96,212 |
Related allowance | 94,665 | 94,665 | 96,212 |
Average recorded investment, with an allowance recorded | 94,411 | 95,208 | 97,923 |
Interest income recognized, with an allowance recorded | 1,589 | 2,810 | 4,960 |
Acquired [Member] | |||
Related allowance | 260,270 | 260,270 | 182,053 |
Unpaid principal balance, total | 5,454,152 | 5,454,152 | 2,572,000 |
Recorded investment, total | 3,529,011 | 3,529,011 | 2,113,242 |
Interest income recognized, total | 36,088 | 57,102 | 67,831 |
Average recorded investment, total | 6,998,216 | 7,011,793 | 2,613,604 |
Acquired [Member] | Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | |||
Unpaid principal balance, with no related allowance recorded | 557,660 | 557,660 | 253,865 |
Recorded investment, with no related allowance recorded | 557,660 | 557,660 | 253,865 |
Average recorded investment, with no related allowance recorded | 587,825 | 584,136 | 252,988 |
Interest income recognized, with no related allowance recorded | 5,296 | 5,296 | 2,155 |
Acquired [Member] | Commercial Real Estate Portfolio Segment [Member] | Investment [Member] | |||
Unpaid principal balance, with no related allowance recorded | 73,241 | 73,241 | |
Recorded investment, with no related allowance recorded | 61,504 | 61,504 | |
Average recorded investment, with no related allowance recorded | 400,394 | 401,800 | |
Interest income recognized, with no related allowance recorded | 5,055 | 5,055 | |
Acquired [Member] | Commercial Real Estate Portfolio Segment [Member] | Land and A&D [Member] | |||
Unpaid principal balance, with no related allowance recorded | 243,329 | 243,329 | 334,271 |
Recorded investment, with no related allowance recorded | 106,780 | 106,780 | 45,000 |
Average recorded investment, with no related allowance recorded | 349,089 | 349,809 | 334,271 |
Interest income recognized, with no related allowance recorded | |||
Unpaid principal balance, with an allowance recorded | 483,149 | 483,149 | 148,196 |
Recorded investment, with an allowance recorded | 199,297 | 199,297 | 148,196 |
Related allowance | 118,891 | 118,891 | 80,072 |
Average recorded investment, with an allowance recorded | 490,004 | 488,778 | 155,621 |
Interest income recognized, with an allowance recorded | 2,498 | ||
Acquired [Member] | Residential Portfolio Segment [Member] | Residential First Owner Occupied [Member] | |||
Unpaid principal balance, with no related allowance recorded | 1,631,478 | 1,631,478 | 1,382,055 |
Recorded investment, with no related allowance recorded | 1,511,742 | 1,511,742 | 1,269,796 |
Average recorded investment, with no related allowance recorded | 1,797,742 | 1,799,968 | 1,390,037 |
Interest income recognized, with no related allowance recorded | 5,089 | 24,257 | 31,601 |
Unpaid principal balance, with an allowance recorded | 253,437 | 253,437 | 250,194 |
Recorded investment, with an allowance recorded | 253,437 | 253,437 | 250,194 |
Related allowance | 88,723 | 88,723 | 77,464 |
Average recorded investment, with an allowance recorded | 276,861 | 275,185 | 273,596 |
Interest income recognized, with an allowance recorded | 23,424 | ||
Acquired [Member] | Residential Portfolio Segment [Member] | Land and A&D [Member] | |||
Unpaid principal balance, with no related allowance recorded | 593,785 | 593,785 | |
Recorded investment, with no related allowance recorded | 390,768 | 390,768 | |
Average recorded investment, with no related allowance recorded | 705,086 | 705,086 | |
Interest income recognized, with no related allowance recorded | |||
Acquired [Member] | Residential Portfolio Segment [Member] | Residential First Investment [Member] | |||
Unpaid principal balance, with no related allowance recorded | 273,737 | 273,737 | 131,294 |
Recorded investment, with no related allowance recorded | 169,020 | 169,020 | 74,066 |
Average recorded investment, with no related allowance recorded | 391,762 | 392,100 | 132,812 |
Interest income recognized, with no related allowance recorded | 12,323 | 12,323 | 4,378 |
Acquired [Member] | Commercial Portfolio Segment [Member] | |||
Unpaid principal balance, with no related allowance recorded | 1,029,478 | 1,029,478 | |
Recorded investment, with no related allowance recorded | 147,351 | 147,351 | |
Average recorded investment, with no related allowance recorded | 1,324,966 | 1,329,002 | |
Interest income recognized, with no related allowance recorded | 7,356 | 7,594 | |
Unpaid principal balance, with an allowance recorded | 69,970 | 69,970 | 72,125 |
Recorded investment, with an allowance recorded | 69,970 | 69,970 | 72,125 |
Related allowance | 24,517 | 24,517 | 24,517 |
Average recorded investment, with an allowance recorded | 69,712 | 70,733 | 74,279 |
Interest income recognized, with an allowance recorded | 894 | 2,093 | $ 3,775 |
Acquired [Member] | Consumer Portfolio Segment [Member] | |||
Unpaid principal balance, with no related allowance recorded | 216,332 | 216,332 | |
Recorded investment, with no related allowance recorded | 32,926 | 32,926 | |
Average recorded investment, with no related allowance recorded | 577,107 | 587,365 | |
Interest income recognized, with no related allowance recorded | 242 | ||
Unpaid principal balance, with an allowance recorded | 28,556 | 28,556 | |
Recorded investment, with an allowance recorded | 28,556 | 28,556 | |
Related allowance | 28,139 | 28,139 | |
Average recorded investment, with an allowance recorded | 27,668 | 27,831 | |
Interest income recognized, with an allowance recorded | $ 75 | $ 242 |
Note 4 - Loans - Loans Modified
Note 4 - Loans - Loans Modified as TDRs (Details) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018USD ($) | Jun. 30, 2017USD ($) | Jun. 30, 2018USD ($) | Jun. 30, 2017USD ($) | |
Number of contracts | 1 | 2 | 1 | 2 |
Pre-modification outstanding recorded investment | $ 201,449 | $ 2,011,064 | $ 201,449 | $ 2,011,064 |
Post-modification outstanding recorded investment | $ 28,556 | $ 2,011,064 | $ 28,556 | $ 2,011,064 |
Legacy [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||
Number of contracts | 1 | 1 | ||
Pre-modification outstanding recorded investment | $ 1,596,740 | $ 1,596,740 | ||
Post-modification outstanding recorded investment | $ 1,596,740 | $ 1,596,740 | ||
Legacy [Member] | Residential Portfolio Segment [Member] | ||||
Number of contracts | 1 | 1 | ||
Pre-modification outstanding recorded investment | $ 201,449 | $ 201,449 | ||
Post-modification outstanding recorded investment | $ 28,556 | $ 28,556 | ||
Legacy [Member] | Commercial Portfolio Segment [Member] | ||||
Number of contracts | 1 | 1 | ||
Pre-modification outstanding recorded investment | $ 414,324 | $ 414,324 | ||
Post-modification outstanding recorded investment | $ 414,324 | $ 414,324 |
Note 4 - Loans - Acquired Impai
Note 4 - Loans - Acquired Impaired Loans (Details) - USD ($) | 6 Months Ended | |||
Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | |
Contractually required payments receivable | $ 19,588,843 | $ 8,311,088 | $ 8,277,731 | $ 9,597,703 |
Carrying amount | 15,209,609 | 6,643,878 | $ 6,617,774 | $ 7,558,415 |
Acquired [Member] | ||||
Balance at beginning of period | 115,066 | (22,980) | ||
Additions due to BYBK acquisition | 50,984 | |||
Accretion of fair value discounts | (404,846) | (51,722) | ||
Reclassification from non-accretable discount | 414,317 | 52,807 | ||
Balance at end of period | $ 175,521 | $ (21,895) |
Note 4 - Loans - Contractually
Note 4 - Loans - Contractually Required Payments Receivable, Cash Flows Expected, Non-accretable Credit Adjustment and Accretable Yield (Details) | Apr. 13, 2018USD ($) |
Contractually required principal at acquisition | $ 14,766 |
Contractual cash flows not expected to be colledted (non-accretable difference) | (3,201) |
Expected cash flows at acquisition-Total | $ 11,565 |
Note 4 - Loans - Credit Quality
Note 4 - Loans - Credit Quality (Details) - USD ($) | Jun. 30, 2018 | Dec. 31, 2017 | Jun. 30, 2017 | |
Loans | $ 2,352,162,215 | $ 1,700,268,583 | $ 1,450,805,817 | |
Commercial Real Estate Portfolio Segment [Member] | ||||
Loans | 1,488,347,678 | 1,100,000,000 | 1,013,530,210 | |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | ||||
Loans | 427,974,518 | 355,786,942 | ||
Commercial Real Estate Portfolio Segment [Member] | Investment [Member] | ||||
Loans | 796,024,773 | 538,463,660 | ||
Commercial Real Estate Portfolio Segment [Member] | Hospitality Industry [Member] | ||||
Loans | 169,097,564 | 171,588,414 | ||
Commercial Real Estate Portfolio Segment [Member] | Land and A&D [Member] | ||||
Loans | 95,250,821 | 76,541,431 | ||
Residential Portfolio Segment [Member] | ||||
Loans | 496,600,307 | 310,700,000 | 278,014,464 | |
Residential Portfolio Segment [Member] | Residential First Investment [Member] | ||||
Loans | 135,931,293 | 100,983,200 | ||
Residential Portfolio Segment [Member] | Residential First Owner Occupied [Member] | ||||
Loans | 229,654,986 | 129,762,493 | ||
Residential Portfolio Segment [Member] | Residential Land and A&D [Member] | ||||
Loans | 63,757,830 | 42,416,013 | ||
Residential Portfolio Segment [Member] | HELOC and Jr Liens [Member] | ||||
Loans | 67,256,200 | 37,539,757 | ||
Commercial Portfolio Segment [Member] | ||||
Loans | 307,670,031 | 154,767,405 | ||
Consumer Portfolio Segment [Member] | ||||
Loans | 59,544,199 | 59,841,340 | $ 4,493,738 | |
Pass [Member] | ||||
Loans | 2,314,618,740 | 1,669,576,864 | ||
Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | ||||
Loans | 416,827,251 | 345,447,055 | ||
Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | Investment [Member] | ||||
Loans | 791,620,895 | 534,469,130 | ||
Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | Hospitality Industry [Member] | ||||
Loans | 168,807,670 | 171,588,414 | ||
Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | Land and A&D [Member] | ||||
Loans | 92,726,613 | 74,250,242 | ||
Pass [Member] | Residential Portfolio Segment [Member] | Residential First Investment [Member] | ||||
Loans | 132,039,608 | 98,661,680 | ||
Pass [Member] | Residential Portfolio Segment [Member] | Residential First Owner Occupied [Member] | ||||
Loans | 224,295,371 | 124,784,001 | ||
Pass [Member] | Residential Portfolio Segment [Member] | Residential Land and A&D [Member] | ||||
Loans | 60,650,833 | 39,439,906 | ||
Pass [Member] | Residential Portfolio Segment [Member] | HELOC and Jr Liens [Member] | ||||
Loans | 67,064,967 | 37,539,757 | ||
Pass [Member] | Commercial Portfolio Segment [Member] | ||||
Loans | 301,276,639 | 183,620,663 | ||
Pass [Member] | Consumer Portfolio Segment [Member] | ||||
Loans | 59,308,893 | 59,776,016 | ||
Special Mention [Member] | ||||
Loans | 15,075,901 | 14,646,573 | ||
Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | ||||
Loans | 3,165,427 | 3,251,808 | ||
Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | Investment [Member] | ||||
Loans | 1,391,406 | 1,421,265 | ||
Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | Hospitality Industry [Member] | ||||
Loans | 289,894 | |||
Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | Land and A&D [Member] | ||||
Loans | 2,372,428 | 2,246,189 | ||
Special Mention [Member] | Residential Portfolio Segment [Member] | Residential First Investment [Member] | ||||
Loans | 2,053,218 | 1,335,766 | ||
Special Mention [Member] | Residential Portfolio Segment [Member] | Residential First Owner Occupied [Member] | ||||
Loans | 1,904,301 | 1,916,011 | ||
Special Mention [Member] | Residential Portfolio Segment [Member] | Residential Land and A&D [Member] | ||||
Loans | 2,234,550 | 2,830,914 | ||
Special Mention [Member] | Residential Portfolio Segment [Member] | HELOC and Jr Liens [Member] | ||||
Loans | 126,006 | |||
Special Mention [Member] | Commercial Portfolio Segment [Member] | ||||
Loans | 1,441,156 | 1,579,296 | ||
Special Mention [Member] | Consumer Portfolio Segment [Member] | ||||
Loans | 97,515 | 65,324 | ||
Substandard [Member] | ||||
Loans | 22,467,574 | 16,045,146 | ||
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | ||||
Loans | 7,981,840 | 7,088,079 | ||
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | Investment [Member] | ||||
Loans | 3,012,472 | 2,573,265 | ||
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | Hospitality Industry [Member] | ||||
Loans | ||||
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | Land and A&D [Member] | ||||
Loans | 151,780 | 45,000 | ||
Substandard [Member] | Residential Portfolio Segment [Member] | Residential First Investment [Member] | ||||
Loans | 1,838,468 | 985,754 | ||
Substandard [Member] | Residential Portfolio Segment [Member] | Residential First Owner Occupied [Member] | ||||
Loans | 3,455,313 | 3,062,481 | ||
Substandard [Member] | Residential Portfolio Segment [Member] | Residential Land and A&D [Member] | ||||
Loans | 872,447 | 145,193 | ||
Substandard [Member] | Residential Portfolio Segment [Member] | HELOC and Jr Liens [Member] | ||||
Loans | 65,227 | |||
Substandard [Member] | Commercial Portfolio Segment [Member] | ||||
Loans | 4,952,236 | 2,145,374 | ||
Substandard [Member] | Consumer Portfolio Segment [Member] | ||||
Loans | 137,791 | |||
Doubtful [Member] | ||||
Loans | ||||
Unlikely to be Collected Financing Receivable [Member] | ||||
Loans | ||||
Legacy [Member] | ||||
Loans | [1] | 1,543,113,460 | 1,354,572,703 | |
Legacy [Member] | Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | ||||
Loans | [1] | 270,562,704 | 268,128,087 | |
Legacy [Member] | Commercial Real Estate Portfolio Segment [Member] | Investment [Member] | ||||
Loans | [1] | 590,644,980 | 485,536,921 | |
Legacy [Member] | Commercial Real Estate Portfolio Segment [Member] | Hospitality Industry [Member] | ||||
Loans | [1] | 161,865,109 | 164,193,228 | |
Legacy [Member] | Commercial Real Estate Portfolio Segment [Member] | Land and A&D [Member] | ||||
Loans | [1] | 67,568,009 | 67,310,660 | |
Legacy [Member] | Residential Portfolio Segment [Member] | Residential First Investment [Member] | ||||
Loans | [1] | 82,241,881 | 79,762,682 | |
Legacy [Member] | Residential Portfolio Segment [Member] | Residential First Owner Occupied [Member] | ||||
Loans | [1] | 83,951,550 | 67,237,699 | |
Legacy [Member] | Residential Portfolio Segment [Member] | Residential Land and A&D [Member] | ||||
Loans | [1] | 42,156,325 | 35,879,853 | |
Legacy [Member] | Residential Portfolio Segment [Member] | HELOC and Jr Liens [Member] | ||||
Loans | [1] | 21,917,531 | 21,520,339 | |
Legacy [Member] | Consumer Portfolio Segment [Member] | ||||
Loans | [1] | 17,073,513 | 10,758,589 | |
Legacy [Member] | Pass [Member] | ||||
Loans | 1,526,515,830 | 1,337,737,550 | ||
Legacy [Member] | Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | ||||
Loans | 264,890,138 | 262,377,665 | ||
Legacy [Member] | Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | Investment [Member] | ||||
Loans | 588,553,131 | 483,404,883 | ||
Legacy [Member] | Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | Hospitality Industry [Member] | ||||
Loans | 161,865,109 | 164,193,228 | ||
Legacy [Member] | Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | Land and A&D [Member] | ||||
Loans | 65,510,282 | 65,184,837 | ||
Legacy [Member] | Pass [Member] | Residential Portfolio Segment [Member] | Residential First Investment [Member] | ||||
Loans | 81,411,986 | 78,814,931 | ||
Legacy [Member] | Pass [Member] | Residential Portfolio Segment [Member] | Residential First Owner Occupied [Member] | ||||
Loans | 83,615,303 | 66,888,943 | ||
Legacy [Member] | Pass [Member] | Residential Portfolio Segment [Member] | Residential Land and A&D [Member] | ||||
Loans | 39,748,478 | 33,712,187 | ||
Legacy [Member] | Pass [Member] | Residential Portfolio Segment [Member] | HELOC and Jr Liens [Member] | ||||
Loans | 21,917,531 | 21,520,339 | ||
Legacy [Member] | Pass [Member] | Commercial Portfolio Segment [Member] | ||||
Loans | 201,930,359 | 150,881,948 | ||
Legacy [Member] | Pass [Member] | Consumer Portfolio Segment [Member] | ||||
Loans | 17,073,513 | 10,758,589 | ||
Legacy [Member] | Special Mention [Member] | ||||
Loans | 6,680,081 | 7,001,095 | ||
Legacy [Member] | Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | ||||
Loans | 428,147 | 435,751 | ||
Legacy [Member] | Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | Investment [Member] | ||||
Loans | 375,432 | 384,011 | ||
Legacy [Member] | Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | Hospitality Industry [Member] | ||||
Loans | ||||
Legacy [Member] | Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | Land and A&D [Member] | ||||
Loans | 2,057,727 | 2,125,823 | ||
Legacy [Member] | Special Mention [Member] | Residential Portfolio Segment [Member] | Residential First Investment [Member] | ||||
Loans | 295,279 | 300,824 | ||
Legacy [Member] | Special Mention [Member] | Residential Portfolio Segment [Member] | Residential First Owner Occupied [Member] | ||||
Loans | 64,910 | 67,626 | ||
Legacy [Member] | Special Mention [Member] | Residential Portfolio Segment [Member] | Residential Land and A&D [Member] | ||||
Loans | 2,130,143 | 2,167,666 | ||
Legacy [Member] | Special Mention [Member] | Residential Portfolio Segment [Member] | HELOC and Jr Liens [Member] | ||||
Loans | ||||
Legacy [Member] | Special Mention [Member] | Commercial Portfolio Segment [Member] | ||||
Loans | 1,328,443 | 1,519,394 | ||
Legacy [Member] | Special Mention [Member] | Consumer Portfolio Segment [Member] | ||||
Loans | ||||
Legacy [Member] | Substandard [Member] | ||||
Loans | 9,917,549 | 9,834,058 | ||
Legacy [Member] | Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | ||||
Loans | 5,244,419 | 5,314,671 | ||
Legacy [Member] | Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | Investment [Member] | ||||
Loans | 1,716,417 | 1,748,027 | ||
Legacy [Member] | Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | Hospitality Industry [Member] | ||||
Loans | ||||
Legacy [Member] | Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | Land and A&D [Member] | ||||
Loans | ||||
Legacy [Member] | Substandard [Member] | Residential Portfolio Segment [Member] | Residential First Investment [Member] | ||||
Loans | 534,616 | 646,927 | ||
Legacy [Member] | Substandard [Member] | Residential Portfolio Segment [Member] | Residential First Owner Occupied [Member] | ||||
Loans | 271,337 | 281,130 | ||
Legacy [Member] | Substandard [Member] | Residential Portfolio Segment [Member] | Residential Land and A&D [Member] | ||||
Loans | 277,704 | |||
Legacy [Member] | Substandard [Member] | Residential Portfolio Segment [Member] | HELOC and Jr Liens [Member] | ||||
Loans | ||||
Legacy [Member] | Substandard [Member] | Commercial Portfolio Segment [Member] | ||||
Loans | 1,873,056 | 1,843,303 | ||
Legacy [Member] | Substandard [Member] | Consumer Portfolio Segment [Member] | ||||
Loans | ||||
Legacy [Member] | Doubtful [Member] | ||||
Loans | ||||
Legacy [Member] | Unlikely to be Collected Financing Receivable [Member] | ||||
Loans | ||||
Acquired [Member] | ||||
Loans | 809,048,755 | 345,695,880 | ||
Acquired [Member] | Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | ||||
Loans | 157,411,814 | 87,658,855 | ||
Acquired [Member] | Commercial Real Estate Portfolio Segment [Member] | Investment [Member] | ||||
Loans | 205,379,793 | 52,926,739 | ||
Acquired [Member] | Commercial Real Estate Portfolio Segment [Member] | Hospitality Industry [Member] | ||||
Loans | 7,232,455 | 7,395,186 | ||
Acquired [Member] | Commercial Real Estate Portfolio Segment [Member] | Land and A&D [Member] | ||||
Loans | 27,682,812 | 9,230,771 | ||
Acquired [Member] | Residential Portfolio Segment [Member] | Residential First Investment [Member] | ||||
Loans | 53,689,412 | 21,220,518 | ||
Acquired [Member] | Residential Portfolio Segment [Member] | Residential First Owner Occupied [Member] | ||||
Loans | 145,703,436 | 62,524,794 | ||
Acquired [Member] | Residential Portfolio Segment [Member] | Residential Land and A&D [Member] | ||||
Loans | 21,601,505 | 6,536,160 | ||
Acquired [Member] | Residential Portfolio Segment [Member] | HELOC and Jr Liens [Member] | ||||
Loans | 45,338,669 | 16,019,418 | ||
Acquired [Member] | Consumer Portfolio Segment [Member] | ||||
Loans | 42,470,686 | 49,082,751 | ||
Acquired [Member] | Pass [Member] | ||||
Loans | 788,102,910 | 331,839,314 | ||
Acquired [Member] | Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | ||||
Loans | 151,937,113 | 83,069,390 | ||
Acquired [Member] | Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | Investment [Member] | ||||
Loans | 203,067,764 | 51,064,247 | ||
Acquired [Member] | Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | Hospitality Industry [Member] | ||||
Loans | 6,942,561 | 7,395,186 | ||
Acquired [Member] | Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | Land and A&D [Member] | ||||
Loans | 27,216,331 | 9,065,405 | ||
Acquired [Member] | Pass [Member] | Residential Portfolio Segment [Member] | Residential First Investment [Member] | ||||
Loans | 50,627,622 | 19,846,749 | ||
Acquired [Member] | Pass [Member] | Residential Portfolio Segment [Member] | Residential First Owner Occupied [Member] | ||||
Loans | 140,680,068 | 57,895,058 | ||
Acquired [Member] | Pass [Member] | Residential Portfolio Segment [Member] | Residential Land and A&D [Member] | ||||
Loans | 20,902,355 | 5,727,719 | ||
Acquired [Member] | Pass [Member] | Residential Portfolio Segment [Member] | HELOC and Jr Liens [Member] | ||||
Loans | 45,147,436 | 16,019,418 | ||
Acquired [Member] | Pass [Member] | Commercial Portfolio Segment [Member] | ||||
Loans | 99,346,280 | 32,738,715 | ||
Acquired [Member] | Pass [Member] | Consumer Portfolio Segment [Member] | ||||
Loans | 42,235,380 | 49,017,427 | ||
Acquired [Member] | Special Mention [Member] | ||||
Loans | 8,395,820 | 7,645,478 | ||
Acquired [Member] | Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | ||||
Loans | 2,737,280 | 2,816,057 | ||
Acquired [Member] | Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | Investment [Member] | ||||
Loans | 1,015,974 | 1,037,254 | ||
Acquired [Member] | Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | Hospitality Industry [Member] | ||||
Loans | 289,894 | |||
Acquired [Member] | Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | Land and A&D [Member] | ||||
Loans | 314,701 | 120,366 | ||
Acquired [Member] | Special Mention [Member] | Residential Portfolio Segment [Member] | Residential First Investment [Member] | ||||
Loans | 1,757,939 | 1,034,942 | ||
Acquired [Member] | Special Mention [Member] | Residential Portfolio Segment [Member] | Residential First Owner Occupied [Member] | ||||
Loans | 1,839,391 | 1,848,385 | ||
Acquired [Member] | Special Mention [Member] | Residential Portfolio Segment [Member] | Residential Land and A&D [Member] | ||||
Loans | 104,407 | 663,248 | ||
Acquired [Member] | Special Mention [Member] | Residential Portfolio Segment [Member] | HELOC and Jr Liens [Member] | ||||
Loans | 126,006 | |||
Acquired [Member] | Special Mention [Member] | Commercial Portfolio Segment [Member] | ||||
Loans | 112,713 | 59,902 | ||
Acquired [Member] | Special Mention [Member] | Consumer Portfolio Segment [Member] | ||||
Loans | 97,515 | 65,324 | ||
Acquired [Member] | Substandard [Member] | ||||
Loans | 12,550,025 | 6,211,088 | ||
Acquired [Member] | Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | ||||
Loans | 2,737,421 | 1,773,408 | ||
Acquired [Member] | Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | Investment [Member] | ||||
Loans | 1,296,055 | 825,238 | ||
Acquired [Member] | Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | Hospitality Industry [Member] | ||||
Loans | ||||
Acquired [Member] | Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | Land and A&D [Member] | ||||
Loans | 151,780 | 45,000 | ||
Acquired [Member] | Substandard [Member] | Residential Portfolio Segment [Member] | Residential First Investment [Member] | ||||
Loans | 1,303,852 | 338,827 | ||
Acquired [Member] | Substandard [Member] | Residential Portfolio Segment [Member] | Residential First Owner Occupied [Member] | ||||
Loans | 3,183,976 | 2,781,351 | ||
Acquired [Member] | Substandard [Member] | Residential Portfolio Segment [Member] | Residential Land and A&D [Member] | ||||
Loans | 594,743 | 145,193 | ||
Acquired [Member] | Substandard [Member] | Residential Portfolio Segment [Member] | HELOC and Jr Liens [Member] | ||||
Loans | 65,227 | |||
Acquired [Member] | Substandard [Member] | Commercial Portfolio Segment [Member] | ||||
Loans | 3,079,180 | 302,071 | ||
Acquired [Member] | Substandard [Member] | Consumer Portfolio Segment [Member] | ||||
Loans | 137,791 | |||
Acquired [Member] | Doubtful [Member] | ||||
Loans | ||||
Acquired [Member] | Unlikely to be Collected Financing Receivable [Member] | ||||
Loans | ||||
[1] | As a result of the acquisitions of Maryland Bankcorp, Inc. ("Maryland Bankcorp"), the parent company of Maryland Bank & Trust Company, N.A. ("MB&T"), in April 2011, WSB Holdings Inc., the parent company of The Washington Savings Bank ("WSB"), in May 2013, Regal Bancorp, Inc. ("Regal"), the parent company of Regal Bank & Trust ("Regal Bank"), in December 2015, DCB Bancshares, Inc. ("DCB"), the parent company of Damascus Community Bank ("Damascus"), in July 2017 and BYBK, the parent company of Bay Bank, in April 2018, we have segmented the portfolio into two components, "Legacy" loans originated by Old Line Bank and "Acquired" loans acquired from MB&T, WSB, Regal Bank, Damascus and Bay Bank. |
Note 4 - Loans - Allowance for
Note 4 - Loans - Allowance for Loan Losses Activity (Details) - USD ($) | 3 Months Ended | 6 Months Ended | |||||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | ||
Beginning balance | $ 6,257,519 | $ 5,609,789 | $ 5,920,586 | $ 6,195,469 | |||
Provision for loan losses | 532,257 | 278,916 | 927,153 | 719,407 | |||
Recoveries | 18,915 | 23,137 | 23,031 | 28,828 | |||
Total | 6,808,691 | 5,911,842 | 6,870,770 | 6,943,704 | |||
Loans charged off | (104,114) | (166,193) | (1,031,862) | ||||
Ending Balance | 6,704,577 | 5,911,842 | 6,704,577 | 5,911,842 | |||
Loans held for investment, allowance for loan losses | 6,704,577 | 5,609,789 | 6,704,577 | 5,911,842 | $ 6,704,577 | $ 5,911,842 | |
Legacy [Member] | |||||||
Beginning balance | [1] | 5,738,534 | |||||
Ending Balance | [1] | 6,444,307 | 6,444,307 | ||||
Individually evaluated for impairment | 171,161 | 349,299 | |||||
Other loans not individually evaluated | 6,273,147 | 5,457,954 | |||||
Loans held for investment, allowance for loan losses | [1] | 6,444,307 | 6,444,307 | 6,444,307 | |||
Acquired [Member] | |||||||
Beginning balance | 182,052 | ||||||
Ending Balance | 260,270 | 260,270 | |||||
Individually evaluated for impairment | 260,269 | 104,589 | |||||
Loans held for investment, allowance for loan losses | 260,270 | 260,270 | 260,270 | ||||
Commercial Portfolio Segment [Member] | |||||||
Beginning balance | 1,211,958 | 1,233,152 | 1,262,030 | 1,372,235 | |||
Provision for loan losses | 465,140 | 84,583 | 414,768 | 514,972 | |||
Recoveries | 3,350 | 512 | 3,650 | 1,563 | |||
Total | 1,680,448 | 1,318,247 | 1,680,448 | 1,888,770 | |||
Loans charged off | (570,523) | ||||||
Ending Balance | 1,680,448 | 1,318,247 | 1,680,448 | 1,318,247 | |||
Loans held for investment, allowance for loan losses | 1,211,958 | 1,233,152 | 1,680,448 | 1,318,247 | 1,680,448 | 1,318,247 | |
Commercial Portfolio Segment [Member] | Legacy [Member] | |||||||
Individually evaluated for impairment | 94,666 | 300,234 | |||||
Other loans not individually evaluated | 1,538,766 | 993,496 | |||||
Commercial Portfolio Segment [Member] | Acquired [Member] | |||||||
Individually evaluated for impairment | 47,016 | 24,517 | |||||
Commercial Real Estate Portfolio Segment [Member] | |||||||
Beginning balance | 4,231,433 | 3,683,260 | 3,783,735 | 3,990,152 | |||
Provision for loan losses | (34,959) | 105,746 | 412,600 | 238,360 | |||
Recoveries | 278 | 417 | 417 | 833 | |||
Total | 4,196,752 | 3,789,423 | 4,196,752 | 4,229,345 | |||
Loans charged off | (439,922) | ||||||
Ending Balance | 4,196,752 | 3,789,423 | 4,196,752 | 3,789,423 | |||
Loans held for investment, allowance for loan losses | 4,231,433 | 3,683,260 | 4,196,752 | 3,789,423 | 4,196,752 | 3,789,423 | |
Commercial Real Estate Portfolio Segment [Member] | Legacy [Member] | |||||||
Individually evaluated for impairment | 28,803 | ||||||
Other loans not individually evaluated | 4,100,361 | 3,760,620 | |||||
Commercial Real Estate Portfolio Segment [Member] | Acquired [Member] | |||||||
Individually evaluated for impairment | 96,391 | ||||||
Residential Portfolio Segment [Member] | |||||||
Beginning balance | 776,298 | 684,541 | 844,355 | 823,520 | |||
Provision for loan losses | (36,923) | 109,254 | (105,012) | (28,357) | |||
Recoveries | 12,079 | 12,111 | 900 | ||||
Total | 751,454 | 793,795 | 751,454 | 796,063 | |||
Loans charged off | (1,824) | (1,824) | (2,268) | ||||
Ending Balance | 749,630 | 793,795 | 749,630 | 793,795 | |||
Loans held for investment, allowance for loan losses | 776,298 | 684,541 | 749,630 | 793,795 | 749,630 | 793,795 | |
Residential Portfolio Segment [Member] | Legacy [Member] | |||||||
Individually evaluated for impairment | 76,495 | 20,262 | |||||
Other loans not individually evaluated | 584,412 | 693,461 | |||||
Residential Portfolio Segment [Member] | Acquired [Member] | |||||||
Individually evaluated for impairment | 88,723 | 80,072 | |||||
Consumer Portfolio Segment [Member] | |||||||
Beginning balance | 37,830 | 8,836 | 30,466 | 9,562 | |||
Provision for loan losses | 138,999 | (20,667) | 204,797 | (5,568) | |||
Recoveries | 3,208 | 22,208 | 6,853 | 25,532 | |||
Total | 180,037 | 10,377 | 242,116 | 29,526 | |||
Loans charged off | (102,290) | (164,369) | (19,149) | ||||
Ending Balance | 77,747 | 10,377 | 77,747 | 10,377 | |||
Loans held for investment, allowance for loan losses | $ 37,830 | $ 8,836 | $ 77,747 | $ 10,377 | 77,747 | 10,377 | |
Consumer Portfolio Segment [Member] | Legacy [Member] | |||||||
Individually evaluated for impairment | |||||||
Other loans not individually evaluated | 49,608 | 10,377 | |||||
Consumer Portfolio Segment [Member] | Acquired [Member] | |||||||
Individually evaluated for impairment | $ 28,139 | ||||||
[1] | As a result of the acquisitions of Maryland Bankcorp, Inc. ("Maryland Bankcorp"), the parent company of Maryland Bank & Trust Company, N.A. ("MB&T"), in April 2011, WSB Holdings Inc., the parent company of The Washington Savings Bank ("WSB"), in May 2013, Regal Bancorp, Inc. ("Regal"), the parent company of Regal Bank & Trust ("Regal Bank"), in December 2015, DCB Bancshares, Inc. ("DCB"), the parent company of Damascus Community Bank ("Damascus"), in July 2017 and BYBK, the parent company of Bay Bank, in April 2018, we have segmented the portfolio into two components, "Legacy" loans originated by Old Line Bank and "Acquired" loans acquired from MB&T, WSB, Regal Bank, Damascus and Bay Bank. |
Note 4 - Loans - Allowance by I
Note 4 - Loans - Allowance by Impairment Methodology (Details) - USD ($) | Jun. 30, 2018 | Dec. 31, 2017 | Jun. 30, 2017 | |
Individually evaluated for impairment without specific reserve (ASC 310-30 at acquisition) | $ 15,209,609 | $ 6,643,878 | ||
Total Loans | 2,352,162,215 | $ 1,700,268,583 | 1,450,805,817 | |
Commercial Portfolio Segment [Member] | ||||
Individually evaluated for impairment without specific reserve (ASC 310-30 at acquisition) | 657,508 | |||
Total Loans | 307,670,031 | 154,767,405 | ||
Commercial Real Estate Portfolio Segment [Member] | ||||
Individually evaluated for impairment without specific reserve (ASC 310-30 at acquisition) | 8,737,493 | 3,515,652 | ||
Total Loans | 1,488,347,678 | 1,100,000,000 | 1,013,530,210 | |
Residential Portfolio Segment [Member] | ||||
Individually evaluated for impairment without specific reserve (ASC 310-30 at acquisition) | 5,794,810 | 3,128,226 | ||
Total Loans | 496,600,307 | 310,700,000 | 278,014,464 | |
Consumer Portfolio Segment [Member] | ||||
Individually evaluated for impairment without specific reserve (ASC 310-30 at acquisition) | 19,798 | |||
Total Loans | 59,544,199 | 59,841,340 | 4,493,738 | |
Legacy [Member] | ||||
Individually evaluated for impairment with specific reserve | 1,211,229 | 1,094,270 | ||
Individually evaluated for impairment without specific reserve | 3,477,436 | 3,678,432 | ||
Other loans not individually evaluated | 1,538,424,798 | 1,281,046,798 | ||
Total Loans | [1] | 1,543,113,460 | 1,354,572,703 | |
Legacy [Member] | Commercial Portfolio Segment [Member] | ||||
Individually evaluated for impairment with specific reserve | 94,666 | 300,234 | ||
Individually evaluated for impairment without specific reserve | 368,654 | 405,368 | ||
Other loans not individually evaluated | 204,668,539 | 149,238,270 | ||
Legacy [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||
Individually evaluated for impairment with specific reserve | 601,535 | |||
Individually evaluated for impairment without specific reserve | 2,696,286 | 3,009,569 | ||
Other loans not individually evaluated | 1,087,944,518 | 918,871,531 | ||
Legacy [Member] | Residential Portfolio Segment [Member] | ||||
Individually evaluated for impairment with specific reserve | 1,116,563 | 192,501 | ||
Individually evaluated for impairment without specific reserve | 412,496 | 263,495 | ||
Other loans not individually evaluated | 228,738,227 | 208,531,955 | ||
Legacy [Member] | Consumer Portfolio Segment [Member] | ||||
Individually evaluated for impairment with specific reserve | ||||
Individually evaluated for impairment without specific reserve | ||||
Other loans not individually evaluated | 17,073,514 | 4,405,042 | ||
Total Loans | [1] | 17,073,513 | 10,758,589 | |
Acquired [Member] | ||||
Individually evaluated for impairment with specific reserve subsequent to acquisition (ASC 310-20 at acquisition) | 551,260 | 224,627 | ||
Individually evaluated for impairment without specific reserve (ASC 310-20 at acquisition) | 2,977,751 | 1,838,667 | ||
Collectively evaluated for impairment without reserve (ASC 310-20 at acquisition) | 790,310,132 | 156,279,145 | ||
Total Loans | 809,048,755 | 345,695,880 | ||
Acquired [Member] | Commercial Portfolio Segment [Member] | ||||
Individually evaluated for impairment with specific reserve subsequent to acquisition (ASC 310-20 at acquisition) | 69,970 | 74,197 | ||
Individually evaluated for impairment without specific reserve (ASC 310-20 at acquisition) | 147,351 | |||
Collectively evaluated for impairment without reserve (ASC 310-20 at acquisition) | 101,663,343 | 4,749,336 | ||
Acquired [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||
Individually evaluated for impairment with specific reserve subsequent to acquisition (ASC 310-20 at acquisition) | 199,297 | 150,430 | ||
Individually evaluated for impairment without specific reserve (ASC 310-20 at acquisition) | 725,944 | 252,687 | ||
Collectively evaluated for impairment without reserve (ASC 310-20 at acquisition) | 388,044,140 | 87,128,806 | ||
Acquired [Member] | Residential Portfolio Segment [Member] | ||||
Individually evaluated for impairment with specific reserve subsequent to acquisition (ASC 310-20 at acquisition) | 253,437 | |||
Individually evaluated for impairment without specific reserve (ASC 310-20 at acquisition) | 2,071,530 | 1,585,980 | ||
Collectively evaluated for impairment without reserve (ASC 310-20 at acquisition) | 258,213,244 | 64,312,307 | ||
Acquired [Member] | Consumer Portfolio Segment [Member] | ||||
Individually evaluated for impairment with specific reserve subsequent to acquisition (ASC 310-20 at acquisition) | 28,556 | |||
Individually evaluated for impairment without specific reserve (ASC 310-20 at acquisition) | 32,926 | |||
Collectively evaluated for impairment without reserve (ASC 310-20 at acquisition) | 42,389,405 | $ 88,696 | ||
Total Loans | $ 42,470,686 | $ 49,082,751 | ||
[1] | As a result of the acquisitions of Maryland Bankcorp, Inc. ("Maryland Bankcorp"), the parent company of Maryland Bank & Trust Company, N.A. ("MB&T"), in April 2011, WSB Holdings Inc., the parent company of The Washington Savings Bank ("WSB"), in May 2013, Regal Bancorp, Inc. ("Regal"), the parent company of Regal Bank & Trust ("Regal Bank"), in December 2015, DCB Bancshares, Inc. ("DCB"), the parent company of Damascus Community Bank ("Damascus"), in July 2017 and BYBK, the parent company of Bay Bank, in April 2018, we have segmented the portfolio into two components, "Legacy" loans originated by Old Line Bank and "Acquired" loans acquired from MB&T, WSB, Regal Bank, Damascus and Bay Bank. |
Note 5 - Other Real Estate Ow45
Note 5 - Other Real Estate Owned (Details Textual) | Jun. 30, 2018USD ($) | Dec. 31, 2017USD ($) |
Other Real Estate, Foreclosed Assets, and Repossessed Assets, Total | $ 2,357,947 | $ 2,003,998 |
Loans in Process of Foreclosure, Number | 4 | 1 |
Mortgage Loans in Process of Foreclosure, Amount | $ 308,000 | $ 277,000 |
Residential Portfolio Segment [Member] | ||
Other Real Estate, Foreclosed Assets, and Repossessed Assets, Total | $ 1,700,000 |
Note 5 - Other Real Estate Ow46
Note 5 - Other Real Estate Owned - Transactions in Other Real Estate Owned (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Beginning balance | $ 2,003,998 | |||
Acquisition of Bay Bancorp, Inc. | 1,041,079 | |||
Sales/deposits on sales | (632,658) | |||
Net realized gain/(loss) | $ 41,956 | 54,472 | $ (17,689) | |
Total end of period | 2,357,947 | 2,357,947 | ||
Legacy [Member] | ||||
Beginning balance | 425,000 | |||
Acquisition of Bay Bancorp, Inc. | ||||
Sales/deposits on sales | (425,000) | |||
Net realized gain/(loss) | ||||
Total end of period | ||||
Acquired [Member] | ||||
Beginning balance | 1,578,998 | |||
Acquisition of Bay Bancorp, Inc. | 1,041,079 | |||
Sales/deposits on sales | (207,658) | |||
Net realized gain/(loss) | 54,472 | |||
Total end of period | $ 2,357,947 | $ 2,357,947 |
Note 6 - Earnings Per Share - W
Note 6 - Earnings Per Share - Weighted Average Number of Shares (Details) - shares | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Weighted average number of shares (in shares) | 16,249,625 | 10,951,464 | 14,407,182 | 10,938,892 |
Dilutive average number of shares (in shares) | 16,464,580 | 11,165,814 | 14,620,030 | 11,152,901 |
Note 7 - Stock Based Compensa48
Note 7 - Stock Based Compensation (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2018 | Mar. 31, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Allocated Share-based Compensation Expense, Total | $ 280,750 | $ 146,918 | $ 569,310 | $ 262,031 | |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Total | $ 1,600,000 | $ 1,600,000 | |||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 2 years 73 days | ||||
Common Stock, Capital Shares Reserved for Future Issuance | 212,005 | 212,005 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 50,000 | 0 | |||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ 8.90 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 19,443 | 24,415 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 32 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period | 0 | 0 | |||
Officer [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 53,021 | 14,300 |
Note 8 - Fair Value Measureme49
Note 8 - Fair Value Measurement (Details Textual) - Fair Value, Inputs, Level 3 [Member] $ in Millions | Jun. 30, 2018USD ($) | Dec. 31, 2017USD ($) |
Assets, Fair Value Disclosure | $ 10.1 | $ 8.2 |
Minimum [Member] | Measurement Input, Discount Rate [Member] | ||
Other Real Estate Owned, Measurement Input | 0 | |
Maximum [Member] | Measurement Input, Discount Rate [Member] | ||
Other Real Estate Owned, Measurement Input | 50 |
Note 8 - Fair Value Measureme50
Note 8 - Fair Value Measurement - Assets and Liabilities Measured on a Recurring Basis (Details) - USD ($) | Jun. 30, 2018 | Dec. 31, 2017 |
Investment securities available for sale-at fair value | $ 209,941,534 | $ 218,352,558 |
US Treasury Securities [Member] | ||
Investment securities available for sale-at fair value | 2,998,125 | 3,005,391 |
US Government Agencies Debt Securities [Member] | ||
Investment securities available for sale-at fair value | 18,347,264 | 17,733,766 |
Corporate Debt Securities [Member] | ||
Investment securities available for sale-at fair value | 18,197,379 | 14,658,059 |
US States and Political Subdivisions Debt Securities [Member] | ||
Investment securities available for sale-at fair value | 77,021,803 | 79,555,288 |
Federal Home Loan Mortgage Corporation Certificates and Obligations (FHLMC) [Member] | ||
Investment securities available for sale-at fair value | 17,575,080 | 19,454,235 |
Federal National Mortgage Association Certificates and Obligations (FNMA) [Member] | ||
Investment securities available for sale-at fair value | 56,786,137 | 62,945,917 |
Government National Mortgage Association Certificates and Obligations (GNMA) [Member] | ||
Investment securities available for sale-at fair value | 19,015,746 | 20,999,902 |
Fair Value, Measurements, Recurring [Member] | ||
Investment securities available for sale-at fair value | 209,941,000 | 218,353,000 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Investment securities available for sale-at fair value | 2,998,000 | 3,005,000 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Investment securities available for sale-at fair value | 188,746,000 | 200,690,000 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Investment securities available for sale-at fair value | 18,197,000 | 14,658,000 |
Fair Value, Measurements, Recurring [Member] | US Treasury Securities [Member] | ||
Investment securities available for sale-at fair value | 2,998,000 | 3,005,000 |
Fair Value, Measurements, Recurring [Member] | US Treasury Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Investment securities available for sale-at fair value | 2,998,000 | 3,005,000 |
Fair Value, Measurements, Recurring [Member] | US Treasury Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Investment securities available for sale-at fair value | ||
Fair Value, Measurements, Recurring [Member] | US Treasury Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Investment securities available for sale-at fair value | ||
Fair Value, Measurements, Recurring [Member] | US Government Agencies Debt Securities [Member] | ||
Investment securities available for sale-at fair value | 18,347,000 | 17,734,000 |
Fair Value, Measurements, Recurring [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Investment securities available for sale-at fair value | ||
Fair Value, Measurements, Recurring [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Investment securities available for sale-at fair value | 18,347,000 | 17,734,000 |
Fair Value, Measurements, Recurring [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Investment securities available for sale-at fair value | ||
Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member] | ||
Investment securities available for sale-at fair value | 18,197,000 | 14,658,000 |
Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Investment securities available for sale-at fair value | ||
Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Investment securities available for sale-at fair value | ||
Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Investment securities available for sale-at fair value | 18,197,000 | 14,658,000 |
Fair Value, Measurements, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Investment securities available for sale-at fair value | 77,022,000 | 79,555,000 |
Fair Value, Measurements, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Investment securities available for sale-at fair value | ||
Fair Value, Measurements, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Investment securities available for sale-at fair value | 77,022,000 | 79,555,000 |
Fair Value, Measurements, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Investment securities available for sale-at fair value | ||
Fair Value, Measurements, Recurring [Member] | Federal Home Loan Mortgage Corporation Certificates and Obligations (FHLMC) [Member] | ||
Investment securities available for sale-at fair value | 17,575,000 | 19,455,000 |
Fair Value, Measurements, Recurring [Member] | Federal Home Loan Mortgage Corporation Certificates and Obligations (FHLMC) [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Investment securities available for sale-at fair value | ||
Fair Value, Measurements, Recurring [Member] | Federal Home Loan Mortgage Corporation Certificates and Obligations (FHLMC) [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Investment securities available for sale-at fair value | 17,575,000 | 19,455,000 |
Fair Value, Measurements, Recurring [Member] | Federal Home Loan Mortgage Corporation Certificates and Obligations (FHLMC) [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Investment securities available for sale-at fair value | ||
Fair Value, Measurements, Recurring [Member] | Federal National Mortgage Association Certificates and Obligations (FNMA) [Member] | ||
Investment securities available for sale-at fair value | 56,786,000 | 62,946,000 |
Fair Value, Measurements, Recurring [Member] | Federal National Mortgage Association Certificates and Obligations (FNMA) [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Investment securities available for sale-at fair value | ||
Fair Value, Measurements, Recurring [Member] | Federal National Mortgage Association Certificates and Obligations (FNMA) [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Investment securities available for sale-at fair value | 56,786,000 | 62,946,000 |
Fair Value, Measurements, Recurring [Member] | Federal National Mortgage Association Certificates and Obligations (FNMA) [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Investment securities available for sale-at fair value | ||
Fair Value, Measurements, Recurring [Member] | Government National Mortgage Association Certificates and Obligations (GNMA) [Member] | ||
Investment securities available for sale-at fair value | 19,016,000 | 21,000,000 |
Fair Value, Measurements, Recurring [Member] | Government National Mortgage Association Certificates and Obligations (GNMA) [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Investment securities available for sale-at fair value | ||
Fair Value, Measurements, Recurring [Member] | Government National Mortgage Association Certificates and Obligations (GNMA) [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Investment securities available for sale-at fair value | 19,016,000 | 21,000,000 |
Fair Value, Measurements, Recurring [Member] | Government National Mortgage Association Certificates and Obligations (GNMA) [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Investment securities available for sale-at fair value |
Note 8 - Fair Value Measureme51
Note 8 - Fair Value Measurement - Reconciliation of Changes in Fair Value (Details) - Fair Value, Inputs, Level 3 [Member] $ in Thousands | 6 Months Ended |
Jun. 30, 2018USD ($) | |
Balance | $ 14,658 |
Included in earnings | |
Included in other comprehensive income | 39 |
Purchases, issuances, sales and settlements | 3,500 |
Transfers into or out of level 3 | |
Balance | $ 18,197 |
Note 8 - Fair Value Measureme52
Note 8 - Fair Value Measurement - Loan Fair Value on a Non-recurring Basis (Details) - USD ($) | Jun. 30, 2018 | Dec. 31, 2017 |
Impaired Financing Receivable, Recorded Investment, Total | $ 8,217,677 | $ 6,615,350 |
Fair Value, Inputs, Level 3 [Member] | ||
Total | 10,100,000 | 8,200,000 |
Fair Value, Measurements, Nonrecurring [Member] | ||
Impaired Financing Receivable, Recorded Investment, Total | 7,787,000 | 6,191,000 |
Other real estate owned | 2,358,000 | 2,004,000 |
Total | 10,145,000 | 8,195,000 |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Impaired Financing Receivable, Recorded Investment, Total | ||
Other real estate owned | ||
Total | ||
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Impaired Financing Receivable, Recorded Investment, Total | ||
Other real estate owned | ||
Total | ||
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Impaired Financing Receivable, Recorded Investment, Total | 7,787,000 | 6,191,000 |
Other real estate owned | 2,358,000 | 2,004,000 |
Total | 10,145,000 | 8,195,000 |
Legacy [Member] | ||
Impaired Financing Receivable, Recorded Investment, Total | 4,688,666 | 4,502,108 |
Legacy [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Impaired Financing Receivable, Recorded Investment, Total | 4,518,000 | 4,260,000 |
Other real estate owned | 425,000 | |
Legacy [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Impaired Financing Receivable, Recorded Investment, Total | ||
Other real estate owned | ||
Legacy [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Impaired Financing Receivable, Recorded Investment, Total | ||
Other real estate owned | ||
Legacy [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Impaired Financing Receivable, Recorded Investment, Total | 4,518,000 | 4,260,000 |
Other real estate owned | 425,000 | |
Acquired [Member] | ||
Impaired Financing Receivable, Recorded Investment, Total | 3,529,011 | 2,113,242 |
Acquired [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Impaired Financing Receivable, Recorded Investment, Total | 3,269,000 | 1,931,000 |
Other real estate owned | 2,358,000 | 1,579,000 |
Acquired [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Impaired Financing Receivable, Recorded Investment, Total | ||
Other real estate owned | ||
Acquired [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Impaired Financing Receivable, Recorded Investment, Total | ||
Other real estate owned | ||
Acquired [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Impaired Financing Receivable, Recorded Investment, Total | 3,269,000 | 1,931,000 |
Other real estate owned | $ 2,358,000 | $ 1,579,000 |
Note 8 - Fair Value Measureme53
Note 8 - Fair Value Measurement - Carrying and Fair Value (Details) - USD ($) | Jun. 30, 2018 | Dec. 31, 2017 |
Loans held for sale, fair value | $ 34,363,686 | $ 4,557,722 |
Bank owned life insurance | 67,062,920 | 41,612,496 |
Accrued interest receivable | 7,715,123 | 5,476,230 |
Non-interest bearing | 603,257,708 | 451,803,052 |
Interest bearing | 1,604,420,214 | 1,201,100,317 |
Accrued Interest payable | 1,827,605 | 1,471,954 |
Reported Value Measurement [Member] | ||
Cash and cash equivalents | 66,459,000 | 35,174,000 |
Loans receivable, net | 2,347,821,000 | 1,696,361,000 |
Loans held for sale, fair value | 34,038,000 | 4,404,000 |
Investment securities available for sale | 209,941,000 | 218,353,000 |
Equity Securities at cost | 14,855,000 | 8,978,000 |
Bank owned life insurance | 67,063,000 | 41,612,000 |
Accrued interest receivable | 7,715,000 | 5,476,000 |
Non-interest bearing | 603,258,000 | 451,803,000 |
Interest bearing | 1,604,420,000 | 1,201,100,000 |
Short term borrowings | 314,676,000 | 192,612,000 |
Long term borrowings | 38,239,000 | 38,107,000 |
Accrued Interest payable | 1,828,000 | 1,472,000 |
Estimate of Fair Value Measurement [Member] | ||
Cash and cash equivalents | 66,459,000 | 35,174,000 |
Loans receivable, net | 2,305,950,000 | 1,692,018,000 |
Loans held for sale, fair value | 34,364,000 | 4,558,000 |
Investment securities available for sale | 209,941,000 | 218,353,000 |
Equity Securities at cost | 14,855,000 | 8,978,000 |
Bank owned life insurance | 67,063,000 | 41,612,000 |
Accrued interest receivable | 7,715,000 | 5,476,000 |
Non-interest bearing | 603,258,000 | 451,803,000 |
Interest bearing | 1,611,050,000 | 1,205,936,000 |
Short term borrowings | 314,676,000 | 192,612,000 |
Long term borrowings | 38,239,000 | 38,107,000 |
Accrued Interest payable | 1,828,000 | 1,472,000 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash and cash equivalents | 66,459,000 | 35,174,000 |
Loans receivable, net | ||
Loans held for sale, fair value | ||
Investment securities available for sale | 2,998,000 | 3,005,000 |
Equity Securities at cost | ||
Bank owned life insurance | ||
Accrued interest receivable | ||
Non-interest bearing | ||
Interest bearing | ||
Short term borrowings | ||
Long term borrowings | ||
Accrued Interest payable | ||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Cash and cash equivalents | ||
Loans receivable, net | ||
Loans held for sale, fair value | 34,364,000 | 4,558,000 |
Investment securities available for sale | 188,746,000 | 200,690,000 |
Equity Securities at cost | 14,855,000 | 8,978,000 |
Bank owned life insurance | 67,063,000 | 41,612,000 |
Accrued interest receivable | 1,364,000 | 1,215,000 |
Non-interest bearing | 603,258,000 | 451,803,000 |
Interest bearing | 1,611,050,000 | 1,205,936,000 |
Short term borrowings | 314,676,000 | 192,612,000 |
Long term borrowings | 38,239,000 | 38,107,000 |
Accrued Interest payable | 1,828,000 | 1,472,000 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Cash and cash equivalents | ||
Loans receivable, net | 2,305,950,000 | 1,692,018,000 |
Loans held for sale, fair value | ||
Investment securities available for sale | 18,197,000 | 14,658,000 |
Equity Securities at cost | ||
Bank owned life insurance | ||
Accrued interest receivable | 6,351,000 | 4,261,000 |
Non-interest bearing | ||
Interest bearing | ||
Short term borrowings | ||
Long term borrowings | ||
Accrued Interest payable |
Note 9 - Short Term Borrowings
Note 9 - Short Term Borrowings (Details Textual) - USD ($) $ in Millions | Jun. 30, 2018 | Dec. 31, 2017 |
Secured Debt, Repurchase Agreements | $ 39.7 | $ 37.6 |
Securities Sold under Agreements to Repurchase, Total | 39.7 | |
Secured Debt [Member] | Federal Home Loan Bank of Atlanta [Member] | ||
Federal Home Loan Bank, Advances, Maturities Summary, Due in Next Twelve Months, Total | 275 | $ 155 |
Securities Sold under Agreements to Repurchase [Member] | ||
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Collateral Pledged | $ 64.6 |
Note 10 - Long Term Borrowings
Note 10 - Long Term Borrowings (Details Textual) - USD ($) | 6 Months Ended | |
Jun. 30, 2018 | Dec. 31, 2017 | |
Long-term Debt, Total | $ 38,238,670 | $ 38,106,930 |
Trust One Maturing on March 17, 2034 [Member] | ||
Long-term Debt, Fair Value | 4,000,000 | |
Liabilities, Fair Value Adjustment | 1,400,000 | |
Trust Two Maturing on December 14, 2035 [Member] | ||
Long-term Debt, Fair Value | 2,500,000 | |
Liabilities, Fair Value Adjustment | 1,200,000 | |
Subordinated Debt [Member] | ||
Long-term Debt, Total | $ 35,000,000 | |
Debt Instrument, Interest Rate, Stated Percentage | 5.625% | |
Long-term Debt, Fair Value | $ 34,100,000 | |
Trust Preferred Subordinated Debentures [Member] | ||
Long-term Debt, Fair Value | 4,100,000 | |
Liabilities, Fair Value Adjustment | $ 2,600,000 |