Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2017 | Aug. 01, 2017 | |
Document and Entity Information | ||
Entity Registrant Name | OLD LINE BANCSHARES INC | |
Entity Central Index Key | 1,253,317 | |
Document Type | 10-Q | |
Document Period End Date | Jun. 30, 2017 | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Entity Current Reporting Status | Yes | |
Entity Filer Category | Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 12,451,220 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q2 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Jun. 30, 2017 | Dec. 31, 2016 |
Assets | ||
Cash and due from banks | $ 25,025,269 | $ 22,062,912 |
Interest bearing accounts | 1,136,343 | 1,151,917 |
Federal funds sold | 302,970 | 248,342 |
Total cash and cash equivalents | 26,464,582 | 23,463,171 |
Investment securities available for sale-at fair value | 198,372,453 | 199,505,204 |
Loans held for sale, fair value of $6,857,924 and $8,707,516 | 6,615,208 | 8,418,435 |
Loans held for investment (net of allowance for loan losses of $5,911,842 and $6,195,469, respectively) | 1,446,573,249 | 1,361,175,206 |
Equity securities at cost | 9,972,744 | 8,303,347 |
Premises and equipment | 36,999,988 | 36,744,704 |
Accrued interest receivable | 4,144,803 | 4,278,229 |
Deferred income taxes | 7,323,124 | 9,578,350 |
Bank owned life insurance | 38,025,982 | 37,557,566 |
Other real estate owned | 2,895,893 | 2,746,000 |
Goodwill | 9,786,357 | 9,786,357 |
Core deposit intangible | 3,141,162 | 3,520,421 |
Other assets | 4,001,391 | 3,942,640 |
Total assets | 1,794,316,936 | 1,709,019,630 |
Deposits | ||
Non-interest bearing | 366,468,569 | 331,331,263 |
Interest bearing | 1,012,960,448 | 994,549,269 |
Total deposits | 1,379,429,017 | 1,325,880,532 |
Short term borrowings | 203,781,308 | 183,433,892 |
Long term borrowings | 37,974,308 | 37,842,567 |
Accrued interest payable | 1,340,591 | 1,269,356 |
Supplemental executive retirement plan | 5,753,527 | 5,613,799 |
Income taxes payable | 1,357,159 | 18,706 |
Other liabilities | 3,633,602 | 4,293,993 |
Total liabilities | 1,633,269,512 | 1,558,352,845 |
Stockholders' equity | ||
Common stock, par value $0.01 per share; 25,000,000 shares authorized; 10,956,130 and 10,910,915 shares issued and outstanding in 2017 and 2016, respectively | 109,561 | 109,109 |
Additional paid-in capital | 107,333,216 | 106,692,958 |
Retained earnings | 55,032,717 | 48,842,026 |
Accumulated other comprehensive income | (1,428,070) | (4,977,308) |
Total Old Line Bancshares, Inc. stockholders’ equity | 161,047,424 | 150,666,785 |
Total liabilities and stockholders' equity | $ 1,794,316,936 | $ 1,709,019,630 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) | Jun. 30, 2017 | Dec. 31, 2016 |
Statement of Financial Position [Abstract] | ||
Loans held for sale, fair value (in dollars) | $ 6,857,924 | $ 8,707,516 |
Loans held for investment, allowance for loan losses (in dollars) | $ 5,911,842 | $ 6,195,469 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, authorized shares | 25,000,000 | 25,000,000 |
Common stock, shares issued | 10,956,130 | 10,910,915 |
Common stock, shares outstanding | 10,956,130 | 10,910,915 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Interest Income | ||||
Loans, including fees | $ 15,765,250 | $ 13,562,643 | $ 31,130,904 | $ 26,619,823 |
U.S. treasury securities | 6,847 | 4,997 | 11,914 | 8,774 |
U.S. government agency securities | 67,333 | 85,686 | 115,837 | 211,418 |
Corporate bond | 121,042 | 0 | 238,878 | 0 |
Mortgage backed securities | 554,411 | 494,145 | 1,108,840 | 1,007,450 |
Municipal securities | 410,801 | 371,596 | 846,355 | 731,032 |
Federal funds sold | 971 | 376 | 1,583 | 1,501 |
Other | 127,116 | 94,297 | 234,794 | 192,068 |
Total interest income | 17,053,771 | 14,613,740 | 33,689,105 | 28,772,066 |
Interest expense | ||||
Deposits | 1,706,993 | 1,309,379 | 3,248,050 | 2,579,811 |
Borrowed funds | 1,094,133 | 328,613 | 2,027,021 | 604,272 |
Total interest expense | 2,801,126 | 1,637,992 | 5,275,071 | 3,184,083 |
Net interest income | 14,252,645 | 12,975,748 | 28,414,034 | 25,587,983 |
Provision for loan losses | 278,916 | 300,000 | 719,407 | 1,078,611 |
Net interest income after provision for loan losses | 13,973,729 | 12,675,748 | 27,694,627 | 24,509,372 |
Non-interest income | ||||
Service charges on deposit accounts | 434,272 | 433,498 | 846,431 | 844,835 |
Gain on sales or calls of investment securities | 19,581 | 823,214 | 35,258 | 900,212 |
Earnings on bank owned life insurance | 282,100 | 282,358 | 563,456 | 564,544 |
Gain on disposal of assets | 0 | 22,784 | 112,594 | 22,784 |
Gain on sale of loans | 94,714 | 0 | 94,714 | 0 |
Rental Income | 169,862 | 208,556 | 310,455 | 417,135 |
Income on marketable loans | 726,647 | 587,030 | 1,357,577 | 964,168 |
Other fees and commissions | 268,443 | 206,244 | 529,868 | 833,659 |
Total non-interest income | 1,995,619 | 2,563,684 | 3,850,353 | 4,547,337 |
Non-interest expense | ||||
Salaries and benefits | 5,050,635 | 5,079,143 | 9,918,166 | 10,455,695 |
Severence expense | 0 | 393,495 | 0 | 393,495 |
Occupancy and equipment | 1,655,270 | 1,647,490 | 3,308,683 | 3,372,043 |
Data processing | 361,546 | 383,689 | 718,194 | 781,481 |
FDIC insurance and State of Maryland assessments | 256,513 | 285,630 | 518,113 | 520,914 |
Merger and integration | 0 | 301,538 | 0 | 661,019 |
Core Deposit Premium Amortization | 181,357 | 200,998 | 379,258 | 427,239 |
Gain on sales of other real estate owned | 0 | (48,099) | (17,689) | (52,307) |
OREO expense | 27,634 | 63,192 | 55,211 | 218,158 |
Directors Fees | 159,700 | 162,900 | 336,900 | 331,700 |
Network services | 164,232 | 146,334 | 303,839 | 283,230 |
Telephone | 186,159 | 201,141 | 380,301 | 419,775 |
Other operating | 1,886,405 | 1,735,287 | 3,560,605 | 3,364,815 |
Total non-interest expense | 9,929,451 | 10,552,738 | 19,461,581 | 21,177,257 |
Income before income taxes | 6,039,897 | 4,686,694 | 12,083,399 | 7,879,452 |
Income tax expense | 2,070,488 | 1,554,000 | 4,140,208 | 2,597,366 |
Net income | 3,969,409 | 3,132,694 | 7,943,191 | 5,282,086 |
Less: Net loss attributable to the non-controlling interest | 0 | 1,728 | 0 | 62 |
Net income available to common stockholders | $ 3,969,409 | $ 3,130,966 | $ 7,943,191 | $ 5,282,024 |
Basic earnings per common share (in dollars per share) | $ 0.36 | $ 0.29 | $ 0.73 | $ 0.49 |
Diluted earnings per common share (in dollars per share) | 0.36 | 0.28 | 0.71 | 0.48 |
Dividend per common share (in dollars per share) | $ 0.08 | $ 0.06 | $ 0.16 | $ 0.12 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income | $ 3,969,409 | $ 3,132,694 | $ 7,943,191 | $ 5,282,086 |
Other comprehensive income: | ||||
Unrealized gain on securities available for sale, net of taxes of $1,610,802, $514,611, $2,325,851, and $987,721 respectively | 2,472,861 | 790,018 | 3,570,588 | 1,516,325 |
Reclassification adjustment for realized gain on securities available for sale included in net income, net of taxes of $7,724, $324,717, $13,908, and $355,089, respectively | (11,857) | (498,497) | (21,350) | (545,123) |
Other comprehensive income | 2,461,004 | 291,521 | 3,549,238 | 971,202 |
Comprehensive Income | 6,430,413 | 3,424,215 | 11,492,429 | 6,253,288 |
Comprehensive income (loss) attributable to the non-controlling interest | 0 | 1,728 | 0 | 62 |
Comprehensive income available to common stockholders | $ 6,430,413 | $ 3,422,487 | $ 11,492,429 | $ 6,253,226 |
Consolidated Statements of Com6
Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Statement of Comprehensive Income [Abstract] | ||||
Unrealized gain (loss) on securities available for sale, taxes | $ 1,610,802 | $ 514,611 | $ 2,325,851 | $ 987,721 |
Reclassification adjustment for realized gain on securities available for sale included in net income, taxes | $ 7,724 | $ 324,717 | $ 13,908 | $ 355,089 |
Consolidated Statement of Chang
Consolidated Statement of Changes in Stockholders' Equity - 6 months ended Jun. 30, 2017 - USD ($) | Common Stock [Member] | Additional Paid In Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Loss [Member] | Total |
Balance at Dec. 31, 2016 | $ 109,109 | $ 106,692,958 | $ 48,842,026 | $ (4,977,308) | $ 150,666,785 |
Balance (in shares) at Dec. 31, 2016 | 10,910,915 | 10,910,915 | |||
Net income attributable to Old Line Bancshares, Inc. | 7,943,191 | $ 7,943,191 | |||
Other comprehensive income, net of income tax of $2,311,943 | 3,549,238 | 3,549,238 | |||
Stock based compensation awards | 262,031 | 262,031 | |||
Stock options exercised | $ 208 | 378,471 | $ 378,679 | ||
Stock options exercised (in shares) | 20,800 | 14,300 | |||
Restricted stock issued | $ 244 | (244) | $ 0 | ||
Restricted stock issued (in shares) | 24,415 | ||||
Common stock cash dividends $0.16 per share | (1,752,500) | (1,752,500) | |||
Balance at Jun. 30, 2017 | $ 109,561 | $ 107,333,216 | $ 55,032,717 | $ (1,428,070) | $ 161,047,424 |
Balance (in shares) at Jun. 30, 2017 | 10,956,130 | 10,956,130 |
Consolidated Statement of Chan8
Consolidated Statement of Changes in Stockholders' Equity (Parenthetical) | 6 Months Ended |
Jun. 30, 2017USD ($)$ / shares | |
Statement of Stockholders' Equity [Abstract] | |
Unrealized gain on securities available for sale, income tax expense (benefit) | $ | $ 2,311,943 |
Dividend per common share (in dollars per share) | $ / shares | $ .16 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 6 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Cash flows from operating activities | ||
Net income | $ 7,943,191 | $ 5,282,086 |
Adjustments to reconcile net income to net cash provided by operating activities | ||
Depreciation and amortization | 1,221,445 | 1,320,718 |
Provision for loan losses | 719,407 | 1,078,611 |
Change in deferred loan fees net of costs | (75,162) | 47,952 |
Gain on sales or calls of securities | (35,258) | (900,212) |
Amortization of premiums and discounts | 510,194 | 445,587 |
Origination of loans held for sale | (51,745,329) | (38,982,301) |
Proceeds from the sale of loans orignated for sale | 53,548,556 | 40,982,984 |
Income on marketable loans | (1,357,577) | (964,168) |
Gain on sales of other real estate owned | (17,689) | (52,307) |
Gain on sale of loans | (94,714) | 0 |
Gain on sale of fixed assets | (112,594) | (22,784) |
Amortization of intangible assets | 379,259 | 427,239 |
Deferred income taxes | (56,718) | 521,555 |
Stock based compensation awards | 262,031 | 262,080 |
Increase (decrease) in | ||
Accrued interest payable | 71,235 | 31,720 |
Income tax payable | 1,338,453 | 1,802,946 |
Supplemental executive retirement plan | 139,728 | 143,333 |
Other liabilities | (660,391) | (424,794) |
Decrease (increase) in | ||
Accrued interest receivable | 133,426 | 110,259 |
Bank owned life insurance | (468,416) | (475,533) |
Other assets | 985,294 | 84,057 |
Net cash provided by operating activities | 12,628,371 | 10,719,028 |
Cash flows from investing activities | ||
Purchase of investment securities available for sale | (21,167,506) | (88,943,976) |
Available for sale at maturity, call or paydowns | 14,686,479 | 7,934,077 |
Available for sale sold | 13,000,024 | 87,476,437 |
Loans made, net of principal collected | (85,012,845) | (95,145,250) |
Proceeds from sale of other real estate owned | 290,644 | 80,808 |
Change in equity securities | (1,669,397) | (2,362,300) |
Purchase of premises and equipment | (2,520,774) | (1,689,968) |
Proceeds from the sale of premises and equipment | 112,594 | 0 |
Net cash used in investing activities | (82,280,781) | (92,650,172) |
Net increase (decrease) in | ||
Time deposits | 15,239,072 | 5,654,458 |
Other deposits | 38,309,413 | 21,356,195 |
Short term borrowings | 20,347,416 | 46,194,479 |
Long term borrowings | 131,741 | (34,300) |
Proceeds from stock options exercised | 378,679 | 0 |
Cash dividends paid-common stock | (1,752,500) | (1,297,384) |
Net cash provided by financing activities | 72,653,821 | 71,873,448 |
Net increase (decrease) in cash and cash equivalents | 3,001,411 | (10,057,696) |
Cash and cash equivalents at beginning of period | 23,463,171 | 43,700,692 |
Cash and cash equivalents at end of period | 26,464,582 | 33,642,996 |
Supplemental Disclosure of Cash Flow Information: | ||
Interest | 4,716,692 | 2,743,048 |
Income taxes | 2,728,000 | 885,000 |
Supplemental Disclosure of Non-Cash Flow Operating Activities: | ||
Loans transferred to other real estate owned | $ 422,848 | $ 261,700 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Summary of Significant Accounting Policies | Organization and Description of Business - Basis of Presentation and Consolidation The foregoing consolidated financial statements for the periods ended June 30, 2017 and 2016 are unaudited and have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”), however, in the opinion of management we have included all adjustments necessary for a fair presentation of the results of the interim period. We derived the balances as of December 31, 2016 from audited financial statements. These statements should be read in conjunction with Old Line Bancshares’ financial statements and accompanying notes included in Old Line Bancshares’ Form 10-K for the year ended December 31, 2016. We have made no significant changes to Old Line Bancshares’ accounting policies as disclosed in the Form 10-K. Use of Estimates Reclassifications Recent Accounting Pronouncements Revenue from Contracts with Customers In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments – Recognition and Measurement of Financial Assets and Liabilities In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) In March 2016, the FASB issued ASU 2016-09, Compensation – Stock Compensation (Topic 718 Improvements to Employee Share-Based Payment Accounting (“ASU 2016-09 In June 2016 , Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, sets forth a “current expected credit loss” ("CECL") model requiring to measure all expected credit losses for financial instruments held at the reporting date based on historical experience, current conditions and reasonable supportable forecasts. This replaces the existing incurred loss model and is applicable to the measurement of credit losses on financial assets measured at amortized cost and applies to some off-balance sheet credit exposures. For public business entities that are U.S. Securities and Exchange Commission filers, the amendments in this update are effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Old Line Bancshares has implemented a committee and has the responsibility to gather loan information and consider acceptable methodologies to comply with this ASU. In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments, In January 2017, the FASB issued ASU 2017-01, Business Combinations (Topic 805) Clarifying the definition of a business In January 2017, the FASB issued ASU 2017-04, Simplifying the Test for Goodwill Impairment, |
Pointer Ridge Office Investment
Pointer Ridge Office Investment, LLC | 6 Months Ended |
Jun. 30, 2017 | |
Investments in and Advances to Affiliates, Schedule of Investments [Abstract] | |
Pointer Ridge Office Investment, LLC | We currently own 100% of Pointer Ridge and we have consolidated its results of operations from the date of acquisition. In August 2016, Old Line Bank purchased the aggregate 37.5% minority interest in Pointer Ridge not held by Old Line Bancshares and on September 2, 2016, we paid off the entire $5.8 million principal amount of a promissory note previously issued by Pointer Ridge. Pointer Ridge owns our headquarters building located at 1525 Pointer Ridge Place, Bowie, Maryland, containing approximately 40,000 square feet. We lease 98% of this building for our main office and operate a branch of Old Line Bank from this address. Prior to this purchase, we owned 62.5% of Pointer Ridge. The following table summarizes the condensed Balance Sheets and Statements of Income information for Pointer Ridge. June 30, December 31, Balance Sheets 2017 2016 Current assets $ 86,941 $ 257,438 Non-current assets 6,104,146 6,164,486 Liabilities 18,640 13,974 Equity 6,172,447 6,407,950 Three Months Ended Six Months Ended June 30, June 30, Statements of Income 2017 2016 2017 2016 Revenue $ 3,175 $ 251,300 $ 6,351 $ 502,374 Expenses 105,637 246,691 241,854 502,210 Net income (loss) $ (102,462 ) $ 4,609 $ (235,503 ) $ 164 |
Investment Securities
Investment Securities | 6 Months Ended |
Jun. 30, 2017 | |
Investments, Debt and Equity Securities [Abstract] | |
Investment Securities | Presented below is a summary of the amortized cost and estimated fair value of securities. Gross Gross Amortized unrealized unrealized Estimated cost gains losses fair value June 30, 2017 Available for sale U.S. treasury $ 3,019,443 $ — $ (6,084 ) $ 3,013,359 U.S. government agency 18,438,208 67,505 (160,941 ) 18,344,772 Corporate bonds 9,100,000 142,887 — 9,242,887 Municipal securities 67,047,540 289,060 (862,311 ) 66,474,289 Mortgage backed securities: FHLMC certificates 21,321,085 5,481 (369,834 ) 20,956,732 FNMA certificates 68,152,342 11,144 (1,246,977 ) 66,916,509 GNMA certificates 13,652,136 — (228,231 ) 13,423,905 $ 200,730,754 $ 516,077 $ (2,874,378 ) $ 198,372,453 December 31, 2016 Available for sale U.S. treasury $ 2,999,483 $ 27 $ (3,728 ) $ 2,995,782 U.S. government agency 7,653,595 — (387,280 ) 7,266,315 Corporate bonds 8,100,000 90,477 (18,840 ) 8,171,637 Municipal securities 71,103,969 170,512 (3,587,676 ) 67,686,805 Mortgage backed securities FHLMC certificates 22,706,185 11,712 (917,543 ) 21,800,354 FNMA certificates 73,425,200 — (2,976,384 ) 70,448,816 GNMA certificates 21,736,255 3,506 (604,266 ) 21,135,495 $ 207,724,687 $ 276,234 $ (8,495,717 ) $ 199,505,204 At June 30, 2017 and December 31, 2016, securities with unrealized losses segregated by length of impairment were as follows: June 30, 2017 Less than 12 months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized value losses value losses value losses U.S. treasury $ 3,013,359 $ 6,084 $ — $ — $ 3,013,359 $ 6,084 U.S. government agency 13,382,939 160,941 — — 13,382,939 160,941 Municipal securities 32,234,681 785,478 2,500,197 76,833 34,734,878 862,311 Mortgage backed securities FHLMC certificates 19,120,575 326,452 1,645,932 43,382 20,766,507 369,834 FNMA certificates 50,323,982 879,626 15,126,935 367,351 65,450,917 1,246,977 GNMA certificates 10,425,797 171,715 2,998,109 56,516 13,423,906 228,231 Total $ 128,501,333 $ 2,330,296 $ 22,271,173 $ 544,082 $ 150,772,506 $ 2,874,378 December 31, 2016 Less than 12 months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized value losses value losses value losses U.S. treasury $ 1,496,016 $ 3,728 $ — $ — $ 1,496,016 $ 3,728 U.S. government agency 7,266,315 387,280 — — 7,266,315 387,280 Corporate bonds 1,981,160 18,840 — — 1,981,160 18,840 Municipal securities 50,722,187 3,587,676 — — 50,722,187 3,587,676 Mortgage backed securities FHLMC certificates 21,413,620 917,543 — — 21,413,620 917,543 FNMA certificates 70,448,817 2,976,384 — — 70,448,817 2,976,384 GNMA certificates 16,403,268 475,022 4,227,210 129,244 20,630,479 604,266 Total $ 169,731,383 $ 8,366,473 $ 4,227,210 $ 129,244 $ 173,958,594 $ 8,495,717 At June 30, 2017 and December 31, 2016, we had 18 and seven investment securities, respectively, in an unrealized loss position greater than the 12 month time frame and 107 and 166 securities, respectively, in an unrealized loss position less than the 12 month time frame. We consider all unrealized losses on securities as of June 30, 2017 to be temporary losses because we will redeem each security at face value at or prior to maturity. We have the ability and intent to hold these securities until recovery or maturity. As of June 30, 2017, we do not have the intent to sell any of the securities classified as available for sale and believe that it is more likely than not that we will not have to sell any such securities before a recovery of cost. In most cases, market interest rate fluctuations cause a temporary impairment in value. We expect the fair value to recover as the investments approach their maturity date or re-pricing date or if market yields for these investments decline. We do not believe that credit quality caused the impairment in any of these securities. Because we believe these impairments are temporary, we have not realized any loss in our consolidated statement of income. During the three months ended June 30, 2017, we received $19.3 million in proceeds from sales, maturities or calls and principal pay-downs on investment securities and realized gains of $148 thousand and realized losses of $129 thousand for a net gain of $20 thousand. The net proceeds of these transactions were used to purchase new investment securities. During the three month period ending June 30, 2016, we received proceeds of $74.5 million from sales, maturities or calls and principal pay-downs on investment securities. Such transactions consisted of 25 mortgage backed securities (“MBS”) pools, 20 municipal bonds and 17 callable agency securities, resulting in realized gains of $823 thousand. The net proceeds of these transactions and the proceeds of principal paydowns in the first quarter of 2016 were used to purchase new investment securities and remainder for new loan originations. During the six months ended June 30, 2017, we received $27.7 million in proceeds from sales, maturities or calls and principal pay-downs on investment securities and realized gains of $164 thousand and realized losses of $129 thousand for total realized net gain of $35 thousand. The net proceeds of these transactions were used to re-balance the investment portfolio, which resulted in an overall slightly higher yield on our security investments. For the six month period ending June 30, 2016, we received $95.4 million in proceeds from sales, maturities or calls and principal pay-downs on investment securities and realized gain of $967 thousand and realized losses of $67 thousand for total realized net gain of $900 thousand. The proceeds of these transactions were used for re-investment in the investment portfolio to increase the yield on such investments. Contractual maturities and pledged securities at June 30, 2017 are shown below. Actual maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without prepayment penalties. We classify MBS based on maturity date. However, we receive payments on a monthly basis. Available for Sale Amortized Fair June 30, 2017 cost value Maturing Within one year $ 3,019,443 $ 3,013,359 Over one to five years 2,265,522 2,271,340 Over five to ten years 41,915,898 42,012,426 Over ten years 153,529,891 151,075,328 $ 200,730,754 $ 198,372,453 Pledged securities $ 39,637,225 $ 39,043,138 |
Loans
Loans | 6 Months Ended |
Jun. 30, 2017 | |
Receivables [Abstract] | |
Loans | Major classifications of loans held for investment are as follows: June 30, 2017 December 31, 2016 Legacy (1) Acquired Total Legacy (1) Acquired Total Commercial Real Estate Owner Occupied $ 266,686,058 $ 45,923,998 $ 312,610,056 $ 238,220,475 $ 53,850,612 $ 292,071,087 Investment 453,597,514 32,857,002 486,454,516 414,012,709 37,687,804 451,700,513 Hospitality 157,457,044 6,814,105 164,271,149 141,611,858 11,193,427 152,805,285 Land and A&D 44,742,020 5,452,470 50,194,490 51,323,297 6,015,813 57,339,110 Residential Real Estate First Lien-Investment 81,285,353 20,860,372 102,145,725 72,150,512 23,623,660 95,774,172 First Lien-Owner Occupied 61,719,823 40,800,994 102,520,817 54,732,604 42,443,767 97,176,371 Residential Land and A&D 43,290,769 5,012,688 48,303,457 39,667,222 5,558,232 45,225,454 HELOC and Jr. Liens 22,692,006 2,352,459 25,044,465 24,385,215 2,633,718 27,018,933 Commercial and Industrial 149,943,871 4,823,533 154,767,404 136,259,560 5,733,904 141,993,464 Consumer 4,405,042 88,696 4,493,738 4,868,909 139,966 5,008,875 1,285,819,500 164,986,317 1,450,805,817 1,177,232,361 188,880,903 1,366,113,264 Allowance for loan losses (5,807,254 ) (104,588 ) (5,911,842 ) (6,084,478 ) (110,991 ) (6,195,469 ) Deferred loan costs, net 1,679,274 — 1,679,274 1,257,411 — 1,257,411 $ 1,281,691,520 $ 164,881,729 $ 1,446,573,249 $ 1,172,405,294 $ 188,769,912 $ 1,361,175,206 (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, and Regal Bancorp, Inc. (“Regal”), the parent company of Regal Bank & Trust (“Regal Bank), in December 2015, we have segmented the portfolio into two components, “Legacy” loans originated by Old Line Bank and “Acquired” loans acquired from MB&T, WSB and Regal Bank. 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. In an effort to manage risk, prior to funding, the loan committee consisting of the Executive Officers and seven members of the Board of Directors must approve by a majority vote all credit decisions in excess of a lending officer’s lending authority. Management believes that it employs experienced lending officers, secures appropriate collateral and carefully monitors the financial condition of its borrowers and loan concentrations. 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 $1.0 billion and $953.9 million at June 30, 2017 and December 31, 2016, respectively. This lending has involved loans secured by owner-occupied commercial buildings for office, storage and warehouse space, as well as non-owner occupied commercial buildings. Our underwriting criteria for commercial real estate loans include maximum loan-to-value ratios, debt coverage ratios, secondary sources of repayments, guarantor requirements, net worth requirements and quality of cash flows. Loans secured by commercial real estate may be large in size and may involve a greater degree of risk than one-to-four family residential mortgage loans. Payments on such loans are often dependent on successful operation or management of the properties. We will generally finance owner occupied commercial real estate that does not exceed loan to value of 80% and investor real estate at a maximum loan to value of 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 detrimentally impact the borrower’s ability to repay. We monitor the financial condition and operating performance of the borrower through a review of annual tax returns and updated financial statements. In addition, we meet with the borrower and/or perform site visits as required. At June 30, 2017, we had approximately $164.3 million of commercial real estate loans outstanding to the hospitality industry. An individual review of these loans indicates that they generally have a low loan to value, more than acceptable existing or projected cash flow, are to experienced operators and are generally dispersed throughout the region. 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 or second mortgages on owner occupied and investment properties. Our residential loan portfolio amounted to $278.0 million and $265.2 million at June 30, 2017 and December 31, 2016, respectively. 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 residential real estate loans with a security interest in the borrower’s primary or secondary residence with a loan to value not exceeding 85%. Our initial underwriting includes an analysis of the borrower’s debt/income ratio which generally may not exceed 43%, collateral value, length of employment and prior credit history. A credit score of 660 is required. We do not originate any subprime residential real estate loans. 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 months or less. Old Line Bank limits its construction lending risk through adherence to established underwriting procedures. These loans generally have short durations, meaning maturities typically of twelve months or less. Residential houses, multi-family dwellings and commercial buildings under construction and the underlying land for which the loan was obtained secure the construction loans. The vast majority of these loans are concentrated in our market area. 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% or less of appraised values and obtain first lien positions on the property. 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 provide permanent financing on the same projects for which we have provided the construction financing. 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 $424,100 up to a maximum of $636,150 for certain high-cost designated areas. We also make residential mortgage loans up to limits established by the Federal Housing Administration, which currently is $636,150. The Washington, D.C. and Baltimore areas are both considered high-cost designated areas. We will, however, make loans in excess of these amounts if we believe that we can sell the loans in the secondary market or that the loans should be held in our portfolio. For loans sold in the secondary market, we typically require a credit score or 640, with some exceptions provided we receive an approval recommendation from FannieMae, FreddieMac or FHA’s automated underwriting approval system. For Veteran Administration loans, we require a minimum score of 620. Loans sold in the secondary market are sold to investors on a servicing released basis and recorded as loans as held-for-sale. The premium is recorded in income on marketable loans in non-interest income, net of commissions paid to the loan officers. 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 (“SBA”) 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 have a concentration of these types of loans in any specific industry segment. We generally secure commercial business loans with accounts receivable, equipment, deeds of trust and other collateral such as marketable securities, cash value of life insurance and time deposits at Old Line Bank. 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 also involve high average balances, increased difficulty monitoring and a high risk of default. To help manage this risk, we typically limit these loans to proven businesses and we generally obtain appropriate collateral and personal guarantees from the borrower’s principal owners and monitor the financial condition of the business. For loans in excess of $250,000, monitoring generally includes a review of the borrower’s annual tax returns and updated financial statements. 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 a focus of our lending activities. The underwriting standards for consumer loans include a determination of the applicant’s payment history on other debts and an assessment of his or her ability to meet existing obligations and payments on the proposed loan. As a general guideline, a consumer’s total debt service should not exceed 40% of his or her gross income. Consumer loans may present greater credit risk than residential mortgage loans because many consumer loans are unsecured or rapidly depreciating assets secure these loans. Repossessed collateral for a defaulted consumer loan may not provide an adequate source of repayment of the outstanding loan balance because of the greater likelihood of damage, loss or depreciation. Consumer loan collections depend on the borrower’s continuing financial stability. If a borrower suffers personal financial difficulties, the consumer may not repay the loan. Also, various federal and state laws, including bankruptcy and insolvency laws, may limit the amount we can recover on such loans. Concentrations of Credit Most of our lending activity occurs within the state of Maryland within the suburban Washington, D.C. market area in Anne Arundel, Calvert, Charles, 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. We also have a presence in Baltimore County and Carroll County, Maryland due to the Regal acquisition. Non-Accrual and Past Due Loans We consider loans past due if the borrower has not paid the required principal and interest payments when due under the original or modified terms of the promissory note and place a loan on non-accrual status when the payment of principal or interest has become 90 days past due. When we classify a loan as non-accrual, we no longer accrue interest on such loan and we reverse any interest previously accrued but not collected. We will generally restore a non-accrual loan to accrual status when the borrower brings delinquent principal and interest payments current and we expect to collect future monthly principal and interest payments. We recognize interest on non-accrual legacy loans only when received. We originally recorded purchased, credit-impaired loans at fair value upon acquisition, and an accretable yield is established and recognized as interest income on purchased loans to the extent subsequent cash flows support the estimated accretable yield. Purchased, credit-impaired loans that perform consistently with the accretable yield expectations are not reported as non-accrual or nonperforming. However, purchased, credit-impaired loans that do not continue to perform according to accretable yield expectations are considered impaired, and presented as non-accrual and nonperforming. Currently, management expects to fully collect the carrying value of acquired, credit-impaired loans. The table below presents an age analysis of the loans held for investment portfolio at June 30, 2017 and December 31, 2016. Age Analysis of Past Due Loans June 30, 2017 December 31, 2016 Legacy Acquired Total Legacy Acquired Total Current $ 1,279,091,477 $ 160,607,927 $ 1,439,699,404 $ 1,167,380,870 $ 185,631,054 $ 1,353,011,924 Accruing past due loans: 30-89 days past due Commercial Real Estate: Owner Occupied 4,864,845 717,930 5,582,775 2,799,802 — 2,799,802 Investment — 769,539 769,539 — 794,037 794,037 Residential Real Estate: First Lien-Investment 461,119 515,168 976,287 517,498 397,944 915,442 First Lien-Owner Occupied 233,891 1,134,676 1,368,567 — 879,718 879,718 HELOC and Jr. Liens 136,820 — 136,820 99,946 — 99,946 Commercial and Industrial 353,665 — 353,665 325,161 — 325,161 Consumer — 550 550 — — — Total 30-89 days past due 6,050,340 3,137,863 9,188,203 3,742,407 2,071,699 5,814,106 90 or more days past due Commercial Real Estate: Owner Occupied — — — — 634,290 634,290 Residential Real Estate: First Lien-Owner Occupied — 3,360 3,360 — 250,000 250,000 Commercial 19,159 — 19,159 — — — Consumer — — — 19,242 — 19,242 Total 90 or more days past due 19,159 3,360 22,519 19,242 884,290 903,532 Total accruing past due loans 6,069,499 3,141,223 9,210,722 3,761,649 2,955,989 6,717,638 Commercial Real Estate: Owner Occupied — 225,432 225,432 2,370,589 — 2,370,589 Hospitality — — — 1,346,736 — 1,346,736 Land and A&D — 192,382 192,382 77,395 194,567 271,962 Residential Real Estate: First Lien-Investment 233,759 — 233,759 312,061 99,293 411,354 First Lien-Owner Occupied 222,237 819,353 1,041,590 222,237 — 222,237 Commercial and Industrial 202,528 — 202,528 1,760,824 — 1,760,824 Non-accruing loans: 658,524 1,237,167 1,895,691 6,089,842 293,860 6,383,702 Total Loans $ 1,285,819,500 $ 164,986,317 $ 1,450,805,817 $ 1,177,232,361 $ 188,880,903 $ 1,366,113,264 We consider all nonperforming loans and troubled debt restructurings (“TDRs”) to be impaired. We do not recognize interest income on nonperforming loans during the time period that the loans are nonperforming. We only recognize interest income on nonperforming loans when we receive payment in full for all amounts due of all contractually required principle and interest, and the loan is current with its contractual terms. The tables below present our impaired loans at and for the periods ended June 30, 2017 and December 31, 2016. Impaired at June 30, 2017 Three months June 30, 2017 Six Months June 30, 2017 Unpaid Average Interest Average Interest Principal Recorded Related Recorded Income Recorded Income Balance Investment Allowance Investment Recognized Investment Recognized Legacy With no related allowance recorded: Commercial Real Estate: Owner Occupied $ 1,825,757 $ 1,825,757 $ — $ 1,825,757 $ 19,303 $ 1,967,633 $ 32431 Investment 1,183,812 1,183,812 — 1,183,812 9,070 1,196,978 26,001 Residential Real Estate: First Lien-Investment 41,258 41,258 — 41,258 — 41,258 — First Lien-Owner Occupied 222,237 222,237 — 222,237 — 222,237 — Commercial 405,368 405,368 — 405,368 3,700 345,972 23,130 With an allowance recorded: Commercial Real Estate: Owner Occupied — — — — — Investment 601,535 601,535 28,803 601,535 7,739 605,929 15,364 Residential Real Estate: First Lien-Investment 192,501 192,501 20,263 192,501 — 192,501 — Commercial 300,234 300,234 300,234 300,234 1,255 300,806 2,493 Total legacy impaired 4,772,702 4,772,702 349,300 4,772,702 41,067 4,873,314 99,419 Acquired(1) With no related allowance recorded: Commercial Real Estate: Owner Occupied 252,687 252,687 — 252,687 — 252,743 2,155 Residential Real Estate: First Lien-Owner Occupied 1,581,891 1,469,632 — 1,581,653 8,526 1,587,209 21,844 First Lien-Investment 132,715 71,348 — 132,715 1,106 133,367 2,194 Land and A&D 334,271 45,000 — 334,271 — 334,271 — With an allowance recorded: Commercial Real Estate: Land and A&D 150,430 150,430 80,072 155,611 — 155,780 823 Commercial 74,197 74,197 24,516 73,898 948 75,077 1900 Total acquired impaired 2,526,191 2,063,294 104,588 2,530,835 10,580 2,538,447 28,916 Total impaired $ 7,298,893 $ 6,835,996 $ 453,888 $ 7,303,537 $ 51,647 $ 7,411,761 $ 128,335 (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 performing according to their contractual terms and meet the definition of an impaired loan. Although we do not accrue interest income at the contractual rate on these loans, we do recognize an accretable yield as interest income to the extent such yield is supported by cash flow analysis of the underlying loans. Impaired Loans December 31, 2016 Unpaid Average Interest Principal Recorded Related Recorded Income Balance Investment Allowance Investment Recognized Legacy With no related allowance recorded: Commercial Real Estate: Owner Occupied $ 566,973 $ 566,973 $ — $ 1,223,360 $ 12,759 Investment 1,212,771 1,212,771 — 1,208,240 54,531 Residential Real Estate: First Lien-Owner Occupied 222,237 222,237 — 243,699 5,440 Commercial 843,809 843,809 — 3,338,295 3,761 With an allowance recorded: Commercial Real Estate: Owner Occupied 2,048,989 2,048,989 443,489 6,605,858 50,348 Investment 610,485 610,485 33,335 610,373 46,550 Hospitality 1,346,736 1,346,736 134,674 4,199,162 20,959 Land and A&D 77,395 77,395 15,860 82,587 4,729 Residential Real Estate: First Lien-Owner Occupied 312,061 312,061 45,505 547,024 9,348 Commercial 1,016,479 1,016,479 609,152 1,976,689 4,476 Total legacy impaired 8,257,935 8,257,935 1,282,015 20,035,287 212,901 Acquired(1) With no related allowance recorded: Commercial Real Estate: Land and A&D 255,716 91,669 — 255,661 13,686 Residential Real Estate: First Lien-Owner Occupied 662,835 662,835 — 1,408,689 19,899 First Lien-Investment 292,349 171,348 — 233,133 4,383 Land and A&D 334,271 45,000 — 334,271 — With an allowance recorded: Commercial Real Estate: Land and A&D 151,634 151,634 83,784 161,622 5,264 Commercial 76,243 76,243 27,207 83,049 3,992 Total acquired impaired 1,773,048 1,198,729 110,991 2,476,425 47,224 Total impaired $ 10,030,983 $ 9,456,664 $ 1,393,006 $ 22,511,712 $ 260,125 (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 performing according to their contractual terms and meet the definition of an impaired loan. Although we do not accrue interest income at the contractual rate on these loans, we do recognize an accretable yield as interest income to the extent such yield is supported by cash flow analysis of the underlying loans. 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, 2017 consisted of eight loans for $2.8 million compared to seven loans at December 31, 2016 for $897 thousand. The following table includes the recorded investment in and number of modifications of TDRs for the three and six months ended June 30, 2017 and 2016. We report the recorded investment in loans prior to a modification and also the recorded investment in the loans after the loans were restructured. Reductions in the recorded investment are primarily due to the partial charge-off of the principal balance prior to the modification. We had no loans that were modified as a TDR that defaulted within the three and six month periods ending June 30, 2017 or 2016. Loans Modified as a TDR for the three months ended June 30, 2017 June 30, 2016 Pre- Post Pre- Post Modification Modification Modification Modification Outstanding Outstanding Outstanding Outstanding Troubled Debt Restructurings— # of Recorded Recorded # of Recorded Recorded (Dollars in thousands) Contracts Investment Investment Contracts Investment Investment Legacy — — — — — — Residential Real Estate Non-Owner Occupied — — — — — — Commercial — — — — — — Total legacy TDR's — — — — — — Acquired — — — — — — Residential Real Estate Non-Owner Occupied — — — — — — Commercial — — — — — — Total acquired TDR's — — — — — — Total Troubled Debt Restructurings — $ — $ — — $ — $ — Loans Modified as a TDR for the six months ended June 30, 2017 June 30, 2016 Pre- Post Pre- Post Modification Modification Modification Modification Outstanding Outstanding Outstanding Outstanding Troubled Debt Restructurings— # of Recorded Recorded # of Recorded Recorded (Dollars in thousands) Contracts Investment Investment Contracts Investment Investment Legacy 1 1,596,740 1,584,913 — — — Commercial 1 414,324 405,328 — — — Total legacy TDR's 2 2,011,064 1,990,241 — — — Acquired — — — 1 256,669 91,929 Residential Real Estate Non-Owner Occupied — — — 1 136,173 66,453 Total acquired TDR's — — — 2 392,842 158,382 Total Troubled Debt Restructurings 2 $ 2,011,064 $ 1,990,241 2 $ 392,842 $ 158,382 Acquired impaired loans The following table documents changes in the accretable (premium) discount on acquired impaired loans during the six months ended June 30, 2017 and 2016, along with the outstanding balances and related carrying amounts for the beginning and end of those respective periods. June 30, 2017 June 30, 2016 Balance at beginning of period $ (22,980 ) $ 276,892 Accretion of fair value discounts (51,722 ) (44,967 ) Payoff of acquired loans — (390,990 ) Reclassification from non-accretable discount 52,807 352,714 Balance at end of period $ (21,895 ) $ 193,649 Contractually Required Payments Receivable Carrying Amount At June 30, 2017 $ 8,311,088 $ 6,643,878 At December 31, 2016 9,597,703 7,558,415 At June 30, 2016 12,798,858 10,099,810 At December 31, 2015 14,875,352 10,675,943 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 year loss ratio for the category and qualitative factors. 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 be impaired, the loan will be placed in a migration category and the credit mark established for the loan will be compared to the general reserve allocation that would be applied using the current allowance for loan losses formula for General Reserves. If the credit mark exceeds the allowance for loan losses formula for General Reserves, there will be no change to the allowance for loan losses. If the credit mark is less than the current allowance for loan losses formula for General Reserves, the allowance for loan losses will be increased by the amount of the shortfall by a provision recorded in the income statement. If the loan is deemed impaired, the loan will be subject to evaluation for loss exposure and a specific reserve. If the estimate of loss exposure exceeds the credit mark, the allowance for loan losses will be increased by the amount of the excess loss exposure through a provision. If the credit mark exceeds the estimate of loss exposure there will be no change to the allowance for loan losses. If a loan from the acquired loan portfolio is carrying a specific credit mark and a current evaluation determines that there has been an increase in loss exposure, the allowance for loan losses will be increased by the amount of the current loss exposure in excess of the credit mark. The following tables outline the class of loans by risk rating at June 30, 2017 and December 31, 2016: June 30, 2017 Legacy Acquired Total Risk Rating Pass(1 - 5) Commercial Real Estate: Owner Occupied $ 259,552,188 $ 40,967,683 $ 300,519,871 Investment 450,729,071 31,408,378 482,137,449 Hospitality 157,457,044 5,409,549 162,866,593 Land and A&D 42,304,057 5,269,440 47,573,497 Residential Real Estate: First Lien-Investment 80,284,280 19,451,885 99,736,165 First Lien-Owner Occupied 61,193,426 36,843,774 98,037,200 Land and A&D 40,849,195 4,076,796 44,925,991 HELOC and Jr. Liens 22,692,006 2,352,459 25,044,465 Commercial 146,413,343 4,692,996 151,106,339 Consumer 4,405,042 88,696 4,493,738 1,265,879,652 150,561,656 1,416,441,308 Special Mention(6) Commercial Real Estate: Owner Occupied 4,503,876 3,538,877 8,042,753 Investment 1,083,096 1,057,944 2,141,040 Hospitality — 1,404,556 1,404,556 Land and A&D 2,437,963 138,031 2,575,994 Residential Real Estate: First Lien-Investment 491,815 1,051,720 1,543,535 First Lien-Owner Occupied 304,160 1,852,090 2,156,250 Land and A&D 2,441,574 678,778 3,120,352 Commercial 1,420,075 56,868 1,476,943 12,682,559 9,778,864 22,461,423 Substandard(7) Commercial Real Estate: Owner Occupied 2,629,993 1,417,438 4,047,431 Investment 1,785,347 390,679 2,176,026 Land and A&D — 45,000 45,000 Residential Real Estate: First Lien-Investment 509,258 356,767 866,025 First Lien-Owner Occupied 222,237 2,105,131 2,327,368 Land and A&D — 257,114 257,114 Commercial 2,110,454 73,668 2,184,122 7,257,289 4,645,797 11,903,086 Doubtful(8) — — — Loss(9) — — — Total $ 1,285,819,500 $ 164,986,317 $ 1,450,805,817 At December 31, 2016 Legacy Acquired Total Risk Rating Pass(1 - 5) Commercial Real Estate: Owner Occupied $ 231,985,682 $ 48,069,046 $ 280,054,728 Investment 408,875,014 35,130,038 444,005,052 Hospitality 140,265,123 9,781,737 150,046,860 Land and A&D 48,817,229 5,815,572 54,632,801 Residential Real Estate: First Lien-Investment 70,980,640 21,898,603 92,879,243 First Lien-Owner Occupied 54,201,816 39,011,487 93,213,303 Land and A&D 36,910,902 4,299,830 41,210,732 HELOC and Jr. Liens 24,385,215 2,633,718 27,018,933 Commercial 132,518,224 5,460,820 137,979,044 Consumer 4,868,909 139,966 5,008,875 1,153,808,754 172,240,817 1,326,049,571 Special Mention(6) Commercial Real Estate: Owner Occupied 2,799,801 4,572,278 7,372,079 Investment 400,228 1,776,837 2,177,065 Hospitality — 1,411,689 1,411,689 Land and A&D 2,506,068 155,241 2,661,309 Residential Real Estate: First Lien-Investment 577,767 1,248,453 1,826,220 First Lien-Owner Occupied 308,552 1,882,182 2,190,734 Land and A&D 2,678,925 791,399 3,470,324 Commercial 456,093 197,383 653,476 9,727,434 12,035,462 21,762,896 Substandard(7) Commercial Real Estate: Owner Occupied 3,434,990 1,209,289 4,644,279 Investment 4,737,465 780,929 5,518,394 Hospitality 1,346,736 — 1,346,736 Land and A&D — 45,000 45,000 Residential Real Estate: First Lien-Investment 592,106 476,603 1,068,709 First Lien-Owner Occupied 222,237 1,550,098 1,772,335 Land and A&D 77,395 467,004 544,399 Commercial 3,285,244 75,701 3,360,945 Consumer — — — 13,696,173 4,604,624 18,300,797 Doubtful(8) — — — Loss(9) — — — Total $ 1,177,232,361 $ 188,880,903 $ 1,366,113,264 The following table details activity in the allowance for loan losses by portfolio segment for the three and six month periods ended June 30, 2017 and 2016. Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other categories. Commercial Residential Three Months Ended June 30, 2017 Commercial Real Estate Real Estate 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 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 Commercial Residential Six Months Ended June 30, 2017 Commercial Real Estate Real Estate 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 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 Commercial Residential Three Months Ended June 30, 2016 Commercial Real Estate Real Estate Consumer Total Beginning balance $ 989,005 $ 3,801,163 $ 904,204 $ 11,485 $ 5,705,857 Provision for loan losses 14 |
Other Real Estate Owned
Other Real Estate Owned | 6 Months Ended |
Jun. 30, 2017 | |
Real Estate [Abstract] | |
Other Real Estate Owned | At June 30, 2017 and December 31, 2016, the fair value of other real estate owned was $2.9 million and $2.7 million, respectively. As a result of the acquisitions of MB&T, WSB and Regal Bank, we have segmented the other real estate owned (“OREO”) into two components, real estate obtained as a result of loans originated by Old Line Bank (legacy) and other real estate acquired from MB&T, WSB and Regal Bank or obtained as a result of loans originated by MB&T, WSB and Regal Bank (acquired). We are currently aggressively either marketing these properties for sale or improving them in preparation for sale. The following outlines the transactions in OREO during the period. Six Months Ended June 30, 2017 Legacy Acquired Total Beginning balance $ 425,000 $ 2,321,000 $ 2,746,000 Real estate acquired through foreclosure of loans 321,600 101,248 422,848 Sales/deposit on sales — (290,644 ) (290,644 ) Net realized gain on sale of real estate owned — 17,689 17,689 Ending balance $ 746,600 $ 2,149,293 $ 2,895,893 Residential Foreclosures and Repossessed Assets |
Earnings Per Common Share
Earnings Per Common Share | 6 Months Ended |
Jun. 30, 2017 | |
Earnings Per Share [Abstract] | |
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 June 30, June 30, 2017 2016 2017 2016 Weighted average number of shares 10,951,464 10,816,429 10,938,892 10,812,314 Dilutive average number of shares 11,165,814 10,989,854 11,152,901 10,980,534 |
Stock Based Compensation
Stock Based Compensation | 6 Months Ended |
Jun. 30, 2017 | |
Stock Based Compensation | |
Stock Based Compensation | For the three and six months ended June 30, 2017 and 2016, we recorded stock-based compensation expense of $146,918 and $147,649, respectively. For the six months ended June 30, 2017 and 2016, we recorded stock-based compensation expense of $262,031 and $262,080, respectively. At June 30, 2017, there was $1.3 million of total unrecognized compensation cost related to non-vested stock options and restricted stock awards that we expect to realize over the next 2.5 years. As of June 30, 2017, there were 307,746 shares remaining available for future issuance under the 2010 equity incentive plan. The officers exercised 14,300 options during the six month period ended June 30, 2017 compared to no options exercised during the six month period ended June 30, 2016. For purposes of determining estimated fair value of stock options, we have computed the estimated fair values using the Black-Scholes option pricing model and, for stock options granted prior to December 31, 2016, have applied the assumptions set forth in Old Line Bancshares’ Annual Report on Form 10-K for the year ended December 31, 2016. There were no stock options granted during the six months ended June 30, 2017 compared to 58,927 stock options granted during the six months ended June 30, 2016. The weighted average grant date fair value of the 2016 stock options is $5.38 and was computed using the Black-Scholes option pricing model under similar assumptions. During the six months ended June 30, 2017 and 2016, we granted 24,415 and 13,869 restricted common stock awards, respectively. The weighted average grant date fair value of these restricted stock awards is $28.63 at June 30, 2017. There were no restricted shares forfeited during the six month periods ending June 30, 2017 or 2016. |
Fair Value Measurement
Fair Value Measurement | 6 Months Ended |
Jun. 30, 2017 | |
Fair Value Disclosures [Abstract] | |
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 be adjusted for transaction costs. An orderly transaction is a transaction that assumes exposure to the market for a period prior to the measurement date to allow for marketing activities that are usual and customary for transactions involving such assets and liabilities; it is not a forced transaction. Market participants are buyers and sellers in the principal market that are (i) independent, (ii) knowledgeable, (iii) able to transact and (iv) willing to transact. The fair value hierarchy established by accounting standards defines three input levels for fair value measurement. The applicable standard describes three levels of inputs that may be used to measure fair value: Level 1 is based on quoted market prices in active markets for identical assets. Level 2 is based on significant observable inputs other than Level 1 prices. Level 3 is based on significant unobservable inputs that reflect a company’s own assumptions about the assumption that market participants would use in pricing an asset or liability. We evaluate fair value measurement inputs on an ongoing basis in order to determine if there is a change of sufficient significance to warrant a transfer between levels. There were no transfers between levels during the three and six months ended June 30, 2017 or the year ended December 31, 2016. At June 30, 2017, we hold, as part of our investment portfolio, available for sale securities reported at fair value consisting of municipal securities, U.S. government sponsored entities, corporate bonds, and mortgage-backed securities. The fair value of the majority of these securities is determined using widely accepted valuation techniques including matrix pricing and broker-quote based applications. Inputs include benchmark yields, reported trades, issuer spreads, prepayments speeds and other relevant items. These are inputs used by a third-party pricing service used by us. To validate the appropriateness of the valuations provided by the third party, we regularly update the understanding of the inputs used and compare valuations to an additional third party source. We classify all our investment securities available for sale in Level 2 of the fair value hierarchy, with the exception of treasury securities that fall into Level 1 and our corporate bonds, which fall into Level 3. Assets and Liabilities Measured at Fair Value on a Recurring Basis At June 30, 2017 (In thousands) Quoted Prices in Other Significant Active Markets for Observable Unobservable Identical Assets Inputs Inputs Carrying Value (Level 1) (Level 2) (Level 3) Available-for-sale: Treasury securities $ 3,013 $ 3,013 $ — $ — U.S. government agency 18,345 — 18,345 — Corporate bonds 9,243 — — 9,243 Municipal securities 66,474 — 66,474 — FHLMC MBS 20,957 — 20,957 — FNMA MBS 66,916 — 66,916 — GNMA MBS 13,424 — 13,424 — Total recurring assets at fair value $ 198,372 $ 3,013 $ 186,116 $ 9,243 At December 31, 2016 (In thousands) Quoted Prices in Other Significant Active Markets for Observable Unobservable Identical Assets Inputs Inputs Carrying Value (Level 1) (Level 2) (Level 3) Available-for-sale: Treasury securities $ 2,996 $ 2,996 $ — $ — U.S. government agency 7,266 — 7,266 — Corporate bonds 8,172 — — 8,172 Municipal securities 67,687 — 67,687 — FHLMC MBS 21,800 — 21,800 — FNMA MBS 70,449 — 70,449 — GNMA MBS 21,135 — 21,135 — Total recurring assets at fair value $ 199,505 $ 2,996 $ 188,337 $ 8,172 Our valuation methodologies may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. While management believes our methodologies are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different estimate of fair value. Furthermore, we have not comprehensively revalued the fair value amounts since the presentation dates, and therefore, estimates of fair value after the balance sheet date may differ significantly from the above presented amounts. 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 the fair value for the period indicated: (in thousands) Level 3 Investment available-for-sale Balance as of January 1, 2017 $ 8,172 Realized and unrealized gains (losses) Included in earnings — Included in other comprehensive income 71 Purchases, issuances, sales and settlements 1,000 Transfers into or out of level 3 — Balance at June 30, 2017 $ 9,243 The fair value calculated may not be indicative of net realized value or reflective of future fair values. Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis We may be required, from time to time, to measure certain assets at fair value on a non-recurring basis in accordance with U.S. generally accepted accounting principles. These include assets that are measured at the lower of cost or market that were recognized at fair value below cost at the end of the period. Assets measured at fair value on a nonrecurring basis at June 30, 2017 and December 31, 2016 are included in the tables below. We also measure certain non-financial assets such as other real estate owned, 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 inputs based on observable market data or Level 3 inputs based on discounting criteria. At June 30, 2017 (In thousands) Quoted Prices in Other Significant Active Markets for Observable Unobservable Identical Assets Inputs Inputs Carrying Value (Level 1) (Level 2) (Level 3) Impaired Loans Legacy: $ 4,423 — — $ 4,423 Acquired: 1,959 — — 1,959 Total Impaired Loans 6,382 — — 6,382 Other real estate owned: Legacy: $ 747 — — $ 747 Acquired: 2,149 — — 2,149 Total other real estate owned: 2,896 — — 2,896 Total $ 9,278 $ — $ — $ 9,278 At December 31, 2016 (In thousands) Quoted Prices in Other Significant Active Markets for Observable Unobservable Identical Assets Inputs Inputs Carrying Value (Level 1) (Level 2) (Level 3) Impaired Loans Legacy: $ 6,976 — — $ 6,976 Acquired: 1,088 — — 1,088 Total Impaired Loans 8,064 — — 8,064 Other real estate owned: Legacy: $ 425 — — $ 425 Acquired: 2,321 — — 2,321 Total other real estate owned: 2,746 — — 2,746 Total $ 10,810 $ — $ — $ 10,810 As of June 30, 2017 and December 31, 2016, we estimated the fair value of impaired assets using Level 3 inputs to be $9.2 million and $10.8 million, respectively. We determined these Level 3 inputs based on appraisal evaluations, offers to purchase and/or appraisals that we obtained from an outside third party during the preceding twelve months less costs to sell. Discounts have predominantly been in the range of 0% to 50%. As a result of the acquisitions of Maryland Bankcorp, WSB Holdings and Regal, we have segmented the OREO into two components, real estate obtained as a result of loans originated by Old Line Bank (legacy) and other real estate acquired from MB&T, WSB and Regal Bank or obtained as a result of loans originated by MB&T, WSB and Regal Bank (acquired). We use the following methodologies for estimating fair values of financial instruments that we do not measure on a recurring basis. The estimated fair values of financial instruments equal the carrying value of the instruments except as noted. Cash and Cash Equivalents Loans- Loans held for Sale- Investment Securities- Equity Securities- Accrued Interest Receivable and Payable- Interest bearing deposits- Non-Interest bearing deposits- Long and short term borrowings- Off-balance Sheet Commitments and Contingencies- Under ASC Topic 825, entities may choose to measure eligible financial instruments at fair value at specified election dates. The fair value measurement option: (i) may be applied instrument by instrument, with certain exceptions; (ii) is generally irrevocable; and (iii) is applied only to entire instruments and not to portions of instruments. We must report in earnings unrealized gains and losses on items for which we have elected the fair value measurement option at each subsequent reporting date. We measure certain financial assets and financial liabilities at fair value on a non-recurring basis. These assets and liabilities are subject to fair value adjustments in certain circumstances such as when there is evidence of impairment. June 30, 2017 (In thousands) Quoted Prices Significant Significant Total in Active Other Other Carrying Estimated Markets for Observable Unobservable Amount Fair Identical Assets Inputs Inputs (000’s ) Value (Level 1) (Level 2) (Level 3) Assets: Cash and cash equivalents $ 26,465 $ 26,465 $ 26,465 $ — $ — Loans receivable, net 1,446,573 1,443,615 — — 1,443,615 Loans held for sale 6,615 6,858 — 6,858 — Investment securities available for sale 198,372 198,372 3,013 186,116 9,243 Equity Securities at cost 9,973 9,973 — 9,973 — Bank Owned Life Insurance 38,026 38,026 — 38,026 — Accrued interest receivable 4,145 4,145 — 936 3,209 Liabilities: Deposits: Non-interest-bearing 366,469 366,469 — 366,469 — Interest bearing 1,012,960 1,016,434 — 1,016,434 — Short term borrowings 203,781 203,781 — 203,781 — Long term borrowings 37,974 37,974 — 37,974 — Accrued Interest payable 1,341 1,341 — 1,341 — December 31, 2016 (In thousands) Quoted Prices Significant Significant Total in Active Other Other Carrying Estimated Markets for Observable Unobservable Amount Fair Identical Assets Inputs Inputs (000’s ) Value (Level 1) (Level 2) (Level 3) Assets: Cash and cash equivalents $ 23,463 $ 23,463 $ 23,463 $ — $ — Loans receivable, net 1,361,175 1,364,361 — — 1,364,361 Loans held for sale 8,418 8,707 — 8,707 — Investment securities available for sale 199,505 199,505 2,996 188,337 8,172 Equity Securities at cost 8,303 8,303 — 8,303 — Bank Owned Life Insurance 37,558 37,558 — 37,558 — Accrued interest receivable 4,278 4,278 — 991 3,287 Liabilities: Deposits: Non-interest-bearing 331,331 331,331 — 331,331 — Interest bearing 994,549 998,489 — 998,489 — Short term borrowings 183,434 183,434 — 183,434 — Long term borrowings 37,843 37,843 — 37,843 — Accrued Interest payable 1,269 1,269 — 1,269 — |
Short Term Borrowings
Short Term Borrowings | 6 Months Ended |
Jun. 30, 2017 | |
Short Term Borrowings | |
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 Federal Home Loan Bank of Atlanta. Securities Sold Under Agreements to Repurchase To support the $18.8 million in repurchase agreements at June 30, 2017, we have provided collateral in the form of investment securities. At June 30, 2017 we have pledged $39.0 million in U.S. government agency securities and mortgage-backed securities to customers who require collateral for overnight repurchase agreements and deposits. Securities sold under agreements to repurchase are stated at the amount of cash received in connection with the transaction. As a result, there is no offsetting or netting of the investment securities assets with the repurchase agreement liabilities. We monitor collateral levels on a continuous basis. We may be required to provide additional collateral based on the fair value of the underlying securities in the event the collateral fair value falls below stipulated levels. We closely monitor the collateral levels to ensure adequate levels are maintained. Securities pledged as collateral under repurchase agreements are maintained with our safekeeping agents. We have the right to sell or re-pledge the investment securities. For government entity repurchase agreements, the collateral is held by Old Line Bank in a segregated custodial account under a tri-party agreement. The repurchase agreements totaling $18.8 million mature daily and will remain fully collateralized until the account has been closed or terminated. |
Long Term Borrowings
Long Term Borrowings | 6 Months Ended |
Jun. 30, 2017 | |
Debt Disclosure [Abstract] | |
Long Term Borrowings | Long term borrowings consist of $35 million in aggregate principal amount of Old Line Bancshares 5.625% Fixed-to-Floating Rate Subordinated Notes due 2026 (the “Notes”). The Notes were issued pursuant to an indenture and a supplemental indenture, each dated as of August 15, 2016, between Old Line Bancshares and U.S. Bank National Association as Trustee. The Notes are unsecured subordinated obligations of Old Line Bancshares and rank equally with all other unsecured subordinated indebtedness currently outstanding or issued in the future. The Notes are subordinated in right of payment of all senior indebtedness. The fair value of the Notes is $34.0 million. Also included in long term borrowings are trust preferred subordinated debentures totaling $4.0 million (net of $2.7 million fair value adjustment) at June 30, 2017 acquired in the Regal acquisition. The trust preferred subordinated debentures consists of two trusts – Trust 1 in the amount of $4.0 million (fair value adjustment of $1.5 million) maturing on March 17, 2034 and Trust 2 in the amount of $2.5 million (fair value adjustment $1.2 million) maturing on December 14, 2035. |
Subsequent Event
Subsequent Event | 6 Months Ended |
Jun. 30, 2017 | |
Subsequent Event | |
Subsequent Event | On July 28, 2017, Old Line Bancshares acquired DCB Bancshares, Inc. (“DCB”), the parent company of Damascus Community Bank. Upon the consummation of the merger, all outstanding shares of DCB common stock were exchanged for shares of common stock of Old Line Bancshares. As a result of the merger, each share of common stock of DCB was converted into the right to receive 0.9269 shares of Old Line Bancshares’ common stock, provided that cash will be paid in lieu of any fractional shares of Old Line Bancshares common stock. As a result Old Line Bancshares will issue approximately 1,495,256 shares of its common stock in exchange for the shares of common stock of DCB in the merger. The aggregate merger consideration was approximately $40.9 million based on the closing sales price of Old Line Bancshares’ common stock on July 28, 2017. In connection with the merger, the parties have caused Damascus Community Bank to merge with and into Old Line Bank, with Old Line Bank the surviving bank. At June 30 2017, DCB had consolidated assets of approximately $313 million. This merger adds six banking locations located in market areas of Montgomery, Frederick and Carroll Counties in Maryland. The initial accounting for the business combination is incomplete as of the date of this report due to the timing of the closing date for the acquisition. The required information is not yet available for Old Line Bancshares to perform the necessary financial reporting and fair values of the related acquisition. |
Summary of Significant Accoun21
Summary of Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization and Description of Business | Organization and Description of Business - |
Basis of Presentation and Consolidation | Basis of Presentation and Consolidation The foregoing consolidated financial statements for the periods ended June 30, 2017 and 2016 are unaudited and have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”), however, in the opinion of management we have included all adjustments necessary for a fair presentation of the results of the interim period. We derived the balances as of December 31, 2016 from audited financial statements. These statements should be read in conjunction with Old Line Bancshares’ financial statements and accompanying notes included in Old Line Bancshares’ Form 10-K for the year ended December 31, 2016. We have made no significant changes to Old Line Bancshares’ accounting policies as disclosed in the Form 10-K. |
Use of Estimates | Use of Estimates |
Reclassifications | Reclassifications |
Recent Accounting Pronouncements | Recent Accounting Pronouncements Revenue from Contracts with Customers In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments – Recognition and Measurement of Financial Assets and Liabilities In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) In March 2016, the FASB issued ASU 2016-09, Compensation – Stock Compensation (Topic 718 Improvements to Employee Share-Based Payment Accounting (“ASU 2016-09 In June 2016 , Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, sets forth a “current expected credit loss” ("CECL") model requiring to measure all expected credit losses for financial instruments held at the reporting date based on historical experience, current conditions and reasonable supportable forecasts. This replaces the existing incurred loss model and is applicable to the measurement of credit losses on financial assets measured at amortized cost and applies to some off-balance sheet credit exposures. For public business entities that are U.S. Securities and Exchange Commission filers, the amendments in this update are effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Old Line Bancshares has implemented a committee and has the responsibility to gather loan information and consider acceptable methodologies to comply with this ASU. In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments, In January 2017, the FASB issued ASU 2017-01, Business Combinations (Topic 805) Clarifying the definition of a business In January 2017, the FASB issued ASU 2017-04, Simplifying the Test for Goodwill Impairment, |
Pointer Ridge Office Investme22
Pointer Ridge Office Investment, LLC (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Investments in and Advances to Affiliates, Schedule of Investments [Abstract] | |
Summary of condensed Balance Sheets and Statements of Income information | June 30, December 31, Balance Sheets 2017 2016 Current assets $ 86,941 $ 257,438 Non-current assets 6,104,146 6,164,486 Liabilities 18,640 13,974 Equity 6,172,447 6,407,950 Three Months Ended Six Months Ended June 30, June 30, Statements of Income 2017 2016 2017 2016 Revenue $ 3,175 $ 251,300 $ 6,351 $ 502,374 Expenses 105,637 246,691 241,854 502,210 Net income (loss) $ (102,462 ) $ 4,609 $ (235,503 ) $ 164 |
Investment Securities (Tables)
Investment Securities (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Investments, Debt and Equity Securities [Abstract] | |
Summary of the amortized cost and estimated fair value of securities | Gross Gross Amortized unrealized unrealized Estimated cost gains losses fair value June 30, 2017 Available for sale U.S. treasury $ 3,019,443 $ — $ (6,084 ) $ 3,013,359 U.S. government agency 18,438,208 67,505 (160,941 ) 18,344,772 Corporate bonds 9,100,000 142,887 — 9,242,887 Municipal securities 67,047,540 289,060 (862,311 ) 66,474,289 Mortgage backed securities: FHLMC certificates 21,321,085 5,481 (369,834 ) 20,956,732 FNMA certificates 68,152,342 11,144 (1,246,977 ) 66,916,509 GNMA certificates 13,652,136 — (228,231 ) 13,423,905 $ 200,730,754 $ 516,077 $ (2,874,378 ) $ 198,372,453 December 31, 2016 Available for sale U.S. treasury $ 2,999,483 $ 27 $ (3,728 ) $ 2,995,782 U.S. government agency 7,653,595 — (387,280 ) 7,266,315 Corporate bonds 8,100,000 90,477 (18,840 ) 8,171,637 Municipal securities 71,103,969 170,512 (3,587,676 ) 67,686,805 Mortgage backed securities FHLMC certificates 22,706,185 11,712 (917,543 ) 21,800,354 FNMA certificates 73,425,200 — (2,976,384 ) 70,448,816 GNMA certificates 21,736,255 3,506 (604,266 ) 21,135,495 $ 207,724,687 $ 276,234 $ (8,495,717 ) $ 199,505,204 |
Schedule of securities with unrealized losses segregated by length of impairment | June 30, 2017 Less than 12 months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized value losses value losses value losses U.S. treasury $ 3,013,359 $ 6,084 $ — $ — $ 3,013,359 $ 6,084 U.S. government agency 13,382,939 160,941 — — 13,382,939 160,941 Municipal securities 32,234,681 785,478 2,500,197 76,833 34,734,878 862,311 Mortgage backed securities FHLMC certificates 19,120,575 326,452 1,645,932 43,382 20,766,507 369,834 FNMA certificates 50,323,982 879,626 15,126,935 367,351 65,450,917 1,246,977 GNMA certificates 10,425,797 171,715 2,998,109 56,516 13,423,906 228,231 Total $ 128,501,333 $ 2,330,296 $ 22,271,173 $ 544,082 $ 150,772,506 $ 2,874,378 December 31, 2016 Less than 12 months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized value losses value losses value losses U.S. treasury $ 1,496,016 $ 3,728 $ — $ — $ 1,496,016 $ 3,728 U.S. government agency 7,266,315 387,280 — — 7,266,315 387,280 Corporate bonds 1,981,160 18,840 — — 1,981,160 18,840 Municipal securities 50,722,187 3,587,676 — — 50,722,187 3,587,676 Mortgage backed securities FHLMC certificates 21,413,620 917,543 — — 21,413,620 917,543 FNMA certificates 70,448,817 2,976,384 — — 70,448,817 2,976,384 GNMA certificates 16,403,268 475,022 4,227,210 129,244 20,630,479 604,266 Total $ 169,731,383 $ 8,366,473 $ 4,227,210 $ 129,244 $ 173,958,594 $ 8,495,717 |
Schedule of contractual maturities and pledged securities | Available for Sale Amortized Fair June 30, 2017 cost value Maturing Within one year $ 3,019,443 $ 3,013,359 Over one to five years 2,265,522 2,271,340 Over five to ten years 41,915,898 42,012,426 Over ten years 153,529,891 151,075,328 $ 200,730,754 $ 198,372,453 Pledged securities $ 39,637,225 $ 39,043,138 |
Loans (Tables)
Loans (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Receivables [Abstract] | |
Summary of major classifications of loans held for investment | June 30, 2017 December 31, 2016 Legacy (1) Acquired Total Legacy (1) Acquired Total Commercial Real Estate Owner Occupied $ 266,686,058 $ 45,923,998 $ 312,610,056 $ 238,220,475 $ 53,850,612 $ 292,071,087 Investment 453,597,514 32,857,002 486,454,516 414,012,709 37,687,804 451,700,513 Hospitality 157,457,044 6,814,105 164,271,149 141,611,858 11,193,427 152,805,285 Land and A&D 44,742,020 5,452,470 50,194,490 51,323,297 6,015,813 57,339,110 Residential Real Estate First Lien-Investment 81,285,353 20,860,372 102,145,725 72,150,512 23,623,660 95,774,172 First Lien-Owner Occupied 61,719,823 40,800,994 102,520,817 54,732,604 42,443,767 97,176,371 Residential Land and A&D 43,290,769 5,012,688 48,303,457 39,667,222 5,558,232 45,225,454 HELOC and Jr. Liens 22,692,006 2,352,459 25,044,465 24,385,215 2,633,718 27,018,933 Commercial and Industrial 149,943,871 4,823,533 154,767,404 136,259,560 5,733,904 141,993,464 Consumer 4,405,042 88,696 4,493,738 4,868,909 139,966 5,008,875 1,285,819,500 164,986,317 1,450,805,817 1,177,232,361 188,880,903 1,366,113,264 Allowance for loan losses (5,807,254 ) (104,588 ) (5,911,842 ) (6,084,478 ) (110,991 ) (6,195,469 ) Deferred loan costs, net 1,679,274 — 1,679,274 1,257,411 — 1,257,411 $ 1,281,691,520 $ 164,881,729 $ 1,446,573,249 $ 1,172,405,294 $ 188,769,912 $ 1,361,175,206 (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, and Regal Bancorp, Inc. (“Regal”), the parent company of Regal Bank & Trust (“Regal Bank), in December 2015, we have segmented the portfolio into two components, “Legacy” loans originated by Old Line Bank and “Acquired” loans acquired from MB&T, WSB and Regal Bank. |
Summary of aging analysis of the loan held for investment portfolio | June 30, 2017 December 31, 2016 Legacy Acquired Total Legacy Acquired Total Current $ 1,279,091,477 $ 160,607,927 $ 1,439,699,404 $ 1,167,380,870 $ 185,631,054 $ 1,353,011,924 Accruing past due loans: 30-89 days past due Commercial Real Estate: Owner Occupied 4,864,845 717,930 5,582,775 2,799,802 — 2,799,802 Investment — 769,539 769,539 — 794,037 794,037 Residential Real Estate: First Lien-Investment 461,119 515,168 976,287 517,498 397,944 915,442 First Lien-Owner Occupied 233,891 1,134,676 1,368,567 — 879,718 879,718 HELOC and Jr. Liens 136,820 — 136,820 99,946 — 99,946 Commercial and Industrial 353,665 — 353,665 325,161 — 325,161 Consumer — 550 550 — — — Total 30-89 days past due 6,050,340 3,137,863 9,188,203 3,742,407 2,071,699 5,814,106 90 or more days past due Commercial Real Estate: Owner Occupied — — — — 634,290 634,290 Residential Real Estate: First Lien-Owner Occupied — 3,360 3,360 — 250,000 250,000 Commercial 19,159 — 19,159 — — — Consumer — — — 19,242 — 19,242 Total 90 or more days past due 19,159 3,360 22,519 19,242 884,290 903,532 Total accruing past due loans 6,069,499 3,141,223 9,210,722 3,761,649 2,955,989 6,717,638 Commercial Real Estate: Owner Occupied — 225,432 225,432 2,370,589 — 2,370,589 Hospitality — — — 1,346,736 — 1,346,736 Land and A&D — 192,382 192,382 77,395 194,567 271,962 Residential Real Estate: First Lien-Investment 233,759 — 233,759 312,061 99,293 411,354 First Lien-Owner Occupied 222,237 819,353 1,041,590 222,237 — 222,237 Commercial and Industrial 202,528 — 202,528 1,760,824 — 1,760,824 Non-accruing loans: 658,524 1,237,167 1,895,691 6,089,842 293,860 6,383,702 Total Loans $ 1,285,819,500 $ 164,986,317 $ 1,450,805,817 $ 1,177,232,361 $ 188,880,903 $ 1,366,113,264 |
Summary of impaired loans | Impaired at June 30, 2017 Three months June 30, 2017 Six Months June 30, 2017 Unpaid Average Interest Average Interest Principal Recorded Related Recorded Income Recorded Income Balance Investment Allowance Investment Recognized Investment Recognized Legacy With no related allowance recorded: Commercial Real Estate: Owner Occupied $ 1,825,757 $ 1,825,757 $ — $ 1,825,757 $ 19,303 $ 1,967,633 $ 32431 Investment 1,183,812 1,183,812 — 1,183,812 9,070 1,196,978 26,001 Residential Real Estate: First Lien-Investment 41,258 41,258 — 41,258 — 41,258 — First Lien-Owner Occupied 222,237 222,237 — 222,237 — 222,237 — Commercial 405,368 405,368 — 405,368 3,700 345,972 23,130 With an allowance recorded: Commercial Real Estate: Owner Occupied — — — — — Investment 601,535 601,535 28,803 601,535 7,739 605,929 15,364 Residential Real Estate: First Lien-Investment 192,501 192,501 20,263 192,501 — 192,501 — Commercial 300,234 300,234 300,234 300,234 1,255 300,806 2,493 Total legacy impaired 4,772,702 4,772,702 349,300 4,772,702 41,067 4,873,314 99,419 Acquired(1) With no related allowance recorded: Commercial Real Estate: Owner Occupied 252,687 252,687 — 252,687 — 252,743 2,155 Residential Real Estate: First Lien-Owner Occupied 1,581,891 1,469,632 — 1,581,653 8,526 1,587,209 21,844 First Lien-Investment 132,715 71,348 — 132,715 1,106 133,367 2,194 Land and A&D 334,271 45,000 — 334,271 — 334,271 — With an allowance recorded: Commercial Real Estate: Land and A&D 150,430 150,430 80,072 155,611 — 155,780 823 Commercial 74,197 74,197 24,516 73,898 948 75,077 1900 Total acquired impaired 2,526,191 2,063,294 104,588 2,530,835 10,580 2,538,447 28,916 Total impaired $ 7,298,893 $ 6,835,996 $ 453,888 $ 7,303,537 $ 51,647 $ 7,411,761 $ 128,335 (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 performing according to their contractual terms and meet the definition of an impaired loan. Although we do not accrue interest income at the contractual rate on these loans, we do recognize an accretable yield as interest income to the extent such yield is supported by cash flow analysis of the underlying loans. Impaired Loans December 31, 2016 Unpaid Average Interest Principal Recorded Related Recorded Income Balance Investment Allowance Investment Recognized Legacy With no related allowance recorded: Commercial Real Estate: Owner Occupied $ 566,973 $ 566,973 $ — $ 1,223,360 $ 12,759 Investment 1,212,771 1,212,771 — 1,208,240 54,531 Residential Real Estate: First Lien-Owner Occupied 222,237 222,237 — 243,699 5,440 Commercial 843,809 843,809 — 3,338,295 3,761 With an allowance recorded: Commercial Real Estate: Owner Occupied 2,048,989 2,048,989 443,489 6,605,858 50,348 Investment 610,485 610,485 33,335 610,373 46,550 Hospitality 1,346,736 1,346,736 134,674 4,199,162 20,959 Land and A&D 77,395 77,395 15,860 82,587 4,729 Residential Real Estate: First Lien-Owner Occupied 312,061 312,061 45,505 547,024 9,348 Commercial 1,016,479 1,016,479 609,152 1,976,689 4,476 Total legacy impaired 8,257,935 8,257,935 1,282,015 20,035,287 212,901 Acquired(1) With no related allowance recorded: Commercial Real Estate: Land and A&D 255,716 91,669 — 255,661 13,686 Residential Real Estate: First Lien-Owner Occupied 662,835 662,835 — 1,408,689 19,899 First Lien-Investment 292,349 171,348 — 233,133 4,383 Land and A&D 334,271 45,000 — 334,271 — With an allowance recorded: Commercial Real Estate: Land and A&D 151,634 151,634 83,784 161,622 5,264 Commercial 76,243 76,243 27,207 83,049 3,992 Total acquired impaired 1,773,048 1,198,729 110,991 2,476,425 47,224 Total impaired $ 10,030,983 $ 9,456,664 $ 1,393,006 $ 22,511,712 $ 260,125 (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 performing according to their contractual terms and meet the definition of an impaired loan. Although we do not accrue interest income at the contractual rate on these loans, we do recognize an accretable yield as interest income to the extent such yield is supported by cash flow analysis of the underlying loans. |
Summary of information related to loans modified in a TDR | Loans Modified as a TDR for the three months ended June 30, 2017 June 30, 2016 Pre- Post Pre- Post Modification Modification Modification Modification Outstanding Outstanding Outstanding Outstanding Troubled Debt Restructurings— # of Recorded Recorded # of Recorded Recorded (Dollars in thousands) Contracts Investment Investment Contracts Investment Investment Legacy — — — — — — Residential Real Estate Non-Owner Occupied — — — — — — Commercial — — — — — — Total legacy TDR's — — — — — — Acquired — — — — — — Residential Real Estate Non-Owner Occupied — — — — — — Commercial — — — — — — Total acquired TDR's — — — — — — Total Troubled Debt Restructurings — $ — $ — — $ — $ — Loans Modified as a TDR for the six months ended June 30, 2017 June 30, 2016 Pre- Post Pre- Post Modification Modification Modification Modification Outstanding Outstanding Outstanding Outstanding Troubled Debt Restructurings— # of Recorded Recorded # of Recorded Recorded (Dollars in thousands) Contracts Investment Investment Contracts Investment Investment Legacy 1 1,596,740 1,584,913 — — — Commercial 1 414,324 405,328 — — — Total legacy TDR's 2 2,011,064 1,990,241 — — — Acquired — — — 1 256,669 91,929 Residential Real Estate Non-Owner Occupied — — — 1 136,173 66,453 Total acquired TDR's — — — 2 392,842 158,382 Total Troubled Debt Restructurings 2 $ 2,011,064 $ 1,990,241 2 $ 392,842 $ 158,382 |
Schedule of the outstanding balances and related carrying amounts of acquired impaired loans | June 30, 2017 June 30, 2016 Balance at beginning of period $ (22,980 ) $ 276,892 Accretion of fair value discounts (51,722 ) (44,967 ) Payoff of acquired loans — (390,990 ) Reclassification from non-accretable discount 52,807 352,714 Balance at end of period $ (21,895 ) $ 193,649 Contractually Required Payments Receivable Carrying Amount At June 30, 2017 $ 8,311,088 $ 6,643,878 At December 31, 2016 9,597,703 7,558,415 At June 30, 2016 12,798,858 10,099,810 At December 31, 2015 14,875,352 10,675,943 |
Schedule of allocation of allowance for loan losses by risk rating | June 30, 2017 Legacy Acquired Total Risk Rating Pass(1 - 5) Commercial Real Estate: Owner Occupied $ 259,552,188 $ 40,967,683 $ 300,519,871 Investment 450,729,071 31,408,378 482,137,449 Hospitality 157,457,044 5,409,549 162,866,593 Land and A&D 42,304,057 5,269,440 47,573,497 Residential Real Estate: First Lien-Investment 80,284,280 19,451,885 99,736,165 First Lien-Owner Occupied 61,193,426 36,843,774 98,037,200 Land and A&D 40,849,195 4,076,796 44,925,991 HELOC and Jr. Liens 22,692,006 2,352,459 25,044,465 Commercial 146,413,343 4,692,996 151,106,339 Consumer 4,405,042 88,696 4,493,738 1,265,879,652 150,561,656 1,416,441,308 Special Mention(6) Commercial Real Estate: Owner Occupied 4,503,876 3,538,877 8,042,753 Investment 1,083,096 1,057,944 2,141,040 Hospitality — 1,404,556 1,404,556 Land and A&D 2,437,963 138,031 2,575,994 Residential Real Estate: First Lien-Investment 491,815 1,051,720 1,543,535 First Lien-Owner Occupied 304,160 1,852,090 2,156,250 Land and A&D 2,441,574 678,778 3,120,352 Commercial 1,420,075 56,868 1,476,943 12,682,559 9,778,864 22,461,423 Substandard(7) Commercial Real Estate: Owner Occupied 2,629,993 1,417,438 4,047,431 Investment 1,785,347 390,679 2,176,026 Land and A&D — 45,000 45,000 Residential Real Estate: First Lien-Investment 509,258 356,767 866,025 First Lien-Owner Occupied 222,237 2,105,131 2,327,368 Land and A&D — 257,114 257,114 Commercial 2,110,454 73,668 2,184,122 7,257,289 4,645,797 11,903,086 Doubtful(8) — — — Loss(9) — — — Total $ 1,285,819,500 $ 164,986,317 $ 1,450,805,817 At December 31, 2016 Legacy Acquired Total Risk Rating Pass(1 - 5) Commercial Real Estate: Owner Occupied $ 231,985,682 $ 48,069,046 $ 280,054,728 Investment 408,875,014 35,130,038 444,005,052 Hospitality 140,265,123 9,781,737 150,046,860 Land and A&D 48,817,229 5,815,572 54,632,801 Residential Real Estate: First Lien-Investment 70,980,640 21,898,603 92,879,243 First Lien-Owner Occupied 54,201,816 39,011,487 93,213,303 Land and A&D 36,910,902 4,299,830 41,210,732 HELOC and Jr. Liens 24,385,215 2,633,718 27,018,933 Commercial 132,518,224 5,460,820 137,979,044 Consumer 4,868,909 139,966 5,008,875 1,153,808,754 172,240,817 1,326,049,571 Special Mention(6) Commercial Real Estate: Owner Occupied 2,799,801 4,572,278 7,372,079 Investment 400,228 1,776,837 2,177,065 Hospitality — 1,411,689 1,411,689 Land and A&D 2,506,068 155,241 2,661,309 Residential Real Estate: First Lien-Investment 577,767 1,248,453 1,826,220 First Lien-Owner Occupied 308,552 1,882,182 2,190,734 Land and A&D 2,678,925 791,399 3,470,324 Commercial 456,093 197,383 653,476 9,727,434 12,035,462 21,762,896 Substandard(7) Commercial Real Estate: Owner Occupied 3,434,990 1,209,289 4,644,279 Investment 4,737,465 780,929 5,518,394 Hospitality 1,346,736 — 1,346,736 Land and A&D — 45,000 45,000 Residential Real Estate: First Lien-Investment 592,106 476,603 1,068,709 First Lien-Owner Occupied 222,237 1,550,098 1,772,335 Land and A&D 77,395 467,004 544,399 Commercial 3,285,244 75,701 3,360,945 Consumer — — — 13,696,173 4,604,624 18,300,797 Doubtful(8) — — — Loss(9) — — — Total $ 1,177,232,361 $ 188,880,903 $ 1,366,113,264 |
Summary of activity in the allowance for loan losses by portfolio segment | Commercial Residential Three Months Ended June 30, 2017 Commercial Real Estate Real Estate 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 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 Commercial Residential Six Months Ended June 30, 2017 Commercial Real Estate Real Estate 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 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 Commercial Residential Three Months Ended June 30, 2016 Commercial Real Estate Real Estate Consumer Total Beginning balance $ 989,005 $ 3,801,163 $ 904,204 $ 11,485 $ 5,705,857 Provision for loan losses 146,461 138,069 14,615 855 300,000 Recoveries 7,386 — 11,308 3,212 21,906 1,142,852 3,939,232 930,127 15,552 6,027,763 Loans charged off — — (3,055 ) (5,785 ) (8,840 ) Ending Balance $ 1,142,852 $ 3,939,232 $ 927,072 $ 9,767 $ 6,018,923 Commercial Residential Six Months Ended June 30, 2016 Commercial Real Estate Real Estate Consumer Total Beginning balance $ 1,168,529 $ 3,046,714 $ 682,962 $ 11,613 $ 4,909,818 Provision for loan losses (35,490 ) 892,518 227,996 (6,413 ) 1,078,611 Recoveries 14,285 — 19,169 10,853 44,307 1,147,324 3,939,232 930,127 16,053 6,032,736 Loans charged off (4,472 ) — (3,055 ) (6,286 ) (13,813 ) Ending Balance $ 1,142,852 $ 3,939,232 $ 927,072 $ 9,767 $ 6,018,923 Amount allocated to: Legacy Loans: Individually evaluated for impairment $ 550,046 $ 676,747 $ — $ — $ 1,226,793 Other loans not individually evaluated 592,806 3,262,485 611,006 9,767 4,476,064 Acquired Loans: Individually evaluated for impairment — — 316,066 — 316,066 Ending balance $ 1,142,852 $ 3,939,232 $ 927,072 $ 9,767 $ 6,018,923 |
Summary of recorded investment in loans related to each balance in the allowance for probable loan losses by portfolio segment and disaggregated on the basis of impairment methodology | Commercial Residential June 30, 2017 Commercial Real Estate Real Estate 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 Commercial Residential June 30, 2016 Commercial Real Estate Real Estate Consumer Total Legacy loans: Individually evaluated for impairment with specific reserve $ 1,009,512 $ 3,495,551 $ — $ — $ 4,505,063 Individually evaluated for impairment without specific reserve 885,570 1,814,606 — — 2,700,176 Other loans not individually evaluated 110,924,558 718,453,673 185,608,582 5,386,911 1,020,373,724 Acquired loans: Individually evaluated for impairment with specific reserve subsequent to acquisition (ASC 310-20 at acquisition) — — 377,212 — 377,212 Individually evaluated for impairment without specific reserve (ASC 310-20 at acquisition) 952,002 616,862 1,954,409 — 3,523,273 Individually evaluated for impairment without specific reserve (ASC 310-30 at acquisition) — 5,789,245 4,310,565 — 10,099,810 Collectively evaluated for impairment without reserve (ASC 310-20 at acquisition) 7,010,584 118,600,602 79,468,134 171,324 205,250,644 Ending balance $ 120,782,226 $ 848,770,539 $ 271,718,902 $ 5,558,235 $ 1,246,829,902 |
Other Real Estate Owned (Tables
Other Real Estate Owned (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Real Estate [Abstract] | |
Schedule of transactions in other real estate owned during the period | Six Months Ended June 30, 2017 Legacy Acquired Total Beginning balance $ 425,000 $ 2,321,000 $ 2,746,000 Real estate acquired through foreclosure of loans 321,600 101,248 422,848 Sales/deposit on sales — (290,644 ) (290,644 ) Net realized gain on sale of real estate owned — 17,689 17,689 Ending balance $ 746,600 $ 2,149,293 $ 2,895,893 |
Earnings Per Common Share (Tabl
Earnings Per Common Share (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Earnings Per Share [Abstract] | |
Schedule of weighted average and dilutive average number of shares | Three Months Ended Six Months Ended June 30, June 30, 2017 2016 2017 2016 Weighted average number of shares 10,951,464 10,816,429 10,938,892 10,812,314 Dilutive average number of shares 11,165,814 10,989,854 11,152,901 10,980,534 |
Fair Value Measurement (Tables)
Fair Value Measurement (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Fair Value Disclosures [Abstract] | |
Schedule of assets and liabilities measured at fair value on a recurring basis | At June 30, 2017 (In thousands) Quoted Prices in Other Significant Active Markets for Observable Unobservable Identical Assets Inputs Inputs Carrying Value (Level 1) (Level 2) (Level 3) Available-for-sale: Treasury securities $ 3,013 $ 3,013 $ — $ — U.S. government agency 18,345 — 18,345 — Corporate bonds 9,243 — — 9,243 Municipal securities 66,474 — 66,474 — FHLMC MBS 20,957 — 20,957 — FNMA MBS 66,916 — 66,916 — GNMA MBS 13,424 — 13,424 — Total recurring assets at fair value $ 198,372 $ 3,013 $ 186,116 $ 9,243 At December 31, 2016 (In thousands) Quoted Prices in Other Significant Active Markets for Observable Unobservable Identical Assets Inputs Inputs Carrying Value (Level 1) (Level 2) (Level 3) Available-for-sale: Treasury securities $ 2,996 $ 2,996 $ — $ — U.S. government agency 7,266 — 7,266 — Corporate bonds 8,172 — — 8,172 Municipal securities 67,687 — 67,687 — FHLMC MBS 21,800 — 21,800 — FNMA MBS 70,449 — 70,449 — GNMA MBS 21,135 — 21,135 — Total recurring assets at fair value $ 199,505 $ 2,996 $ 188,337 $ 8,172 |
Schedule 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, 2017 $ 8,172 Realized and unrealized gains (losses) Included in earnings — Included in other comprehensive income 71 Purchases, issuances, sales and settlements 1,000 Transfers into or out of level 3 — Balance at June 30, 2017 $ 9,243 |
Schedule of assets and liabilities measured at fair value on a nonrecurring basis | At June 30, 2017 (In thousands) Quoted Prices in Other Significant Active Markets for Observable Unobservable Identical Assets Inputs Inputs Carrying Value (Level 1) (Level 2) (Level 3) Impaired Loans Legacy: $ 4,423 — — $ 4,423 Acquired: 1,959 — — 1,959 Total Impaired Loans 6,382 — — 6,382 Other real estate owned: Legacy: $ 747 — — $ 747 Acquired: 2,149 — — 2,149 Total other real estate owned: 2,896 — — 2,896 Total $ 9,278 $ — $ — $ 9,278 At December 31, 2016 (In thousands) Quoted Prices in Other Significant Active Markets for Observable Unobservable Identical Assets Inputs Inputs Carrying Value (Level 1) (Level 2) (Level 3) Impaired Loans Legacy: $ 6,976 — — $ 6,976 Acquired: 1,088 — — 1,088 Total Impaired Loans 8,064 — — 8,064 Other real estate owned: Legacy: $ 425 — — $ 425 Acquired: 2,321 — — 2,321 Total other real estate owned: 2,746 — — 2,746 Total $ 10,810 $ — $ — $ 10,810 |
Schedule of estimated fair value of financial instruments | June 30, 2017 (In thousands) Quoted Prices Significant Significant Total in Active Other Other Carrying Estimated Markets for Observable Unobservable Amount Fair Identical Assets Inputs Inputs (000’s ) Value (Level 1) (Level 2) (Level 3) Assets: Cash and cash equivalents $ 26,465 $ 26,465 $ 26,465 $ — $ — Loans receivable, net 1,446,573 1,443,615 — — 1,443,615 Loans held for sale 6,615 6,858 — 6,858 — Investment securities available for sale 198,372 198,372 3,013 186,116 9,243 Equity Securities at cost 9,973 9,973 — 9,973 — Bank Owned Life Insurance 38,026 38,026 — 38,026 — Accrued interest receivable 4,145 4,145 — 936 3,209 Liabilities: Deposits: Non-interest-bearing 366,469 366,469 — 366,469 — Interest bearing 1,012,960 1,016,434 — 1,016,434 — Short term borrowings 203,781 203,781 — 203,781 — Long term borrowings 37,974 37,974 — 37,974 — Accrued Interest payable 1,341 1,341 — 1,341 — December 31, 2016 (In thousands) Quoted Prices Significant Significant Total in Active Other Other Carrying Estimated Markets for Observable Unobservable Amount Fair Identical Assets Inputs Inputs (000’s ) Value (Level 1) (Level 2) (Level 3) Assets: Cash and cash equivalents $ 23 ,463 $ 23,463 $ 23,463 $ — $ — Loans receivable, net 1,361,175 1,364,361 — — 1,364,361 Loans held for sale 8,418 8,707 — 8,707 — Investment securities available for sale 199,505 199,505 2,996 188,337 8,172 Equity Securities at cost 8,303 8,303 — 8,303 — Bank Owned Life Insurance 37,558 37,558 — 37,558 — Accrued interest receivable 4,278 4,278 — 991 3,287 Liabilities: Deposits: Non-interest-bearing 331,331 331,331 — 331,331 — Interest bearing 994,549 998,489 — 998,489 — Short term borrowings 183,434 183,434 — 183,434 — Long term borrowings 37,843 37,843 — 37,843 — Accrued Interest payable 1,269 1,269 — 1,269 — |
Pointer Ridge Office Investme28
Pointer Ridge Office Investment, LLC (Details) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | |
Condensed Balance Sheets | |||||
Liabilities | $ 1,633,269,512 | $ 1,633,269,512 | $ 1,558,352,845 | ||
Equity | 161,047,424 | 161,047,424 | 150,666,785 | ||
Condensed Statements of Income | |||||
Net income | 3,969,409 | $ 3,132,694 | 7,943,191 | $ 5,282,086 | |
Pointer Ridge Office Investment L L C [Member] | |||||
Condensed Balance Sheets | |||||
Current assets | 86,941 | 86,941 | 257,438 | ||
Non-current assets | 6,104,146 | 6,104,146 | 6,164,486 | ||
Liabilities | 18,640 | 18,640 | 13,974 | ||
Equity | 6,172,447 | 6,172,447 | $ 6,407,950 | ||
Condensed Statements of Income | |||||
Revenue | 3,175 | 251,300 | 6,351 | 502,374 | |
Expenses | 105,637 | 246,691 | 241,854 | 502,210 | |
Net income | $ (102,462) | $ 4,609 | $ (235,503) | $ 164 |
Pointer Ridge Office Investme29
Pointer Ridge Office Investment, LLC (Details Narrative) - Pointer Ridge Office Investment L L C [Member] | 6 Months Ended |
Jun. 30, 2017USD ($) | |
Schedule of Investments [Line Items] | |
Ownership percentage | 100.00% |
Minority ownership percentage purchased | 37.50% |
Repayment of principal amount of promissory note issued by Pointer Ridge | $ 5,800,000 |
Percentage of building area leased | 0.625 |
Investment Securities (Details)
Investment Securities (Details) - USD ($) | Jun. 30, 2017 | Dec. 31, 2016 |
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost | $ 200,730,754 | $ 207,724,687 |
Gross unrealized gains | 516,077 | 276,234 |
Gross unrealized losses | (2,874,378) | (8,495,717) |
Estimated fair value | 198,372,453 | 199,505,204 |
U S Treasury Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost | 3,019,443 | 2,999,483 |
Gross unrealized gains | 0 | 27 |
Gross unrealized losses | (6,084) | (3,728) |
Estimated fair value | 3,013,359 | 2,995,782 |
U S Government Agencies Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost | 18,438,208 | 7,653,595 |
Gross unrealized gains | 67,505 | 0 |
Gross unrealized losses | (160,941) | (387,280) |
Estimated fair value | 18,344,772 | 7,266,315 |
Corporate Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost | 9,100,000 | 8,100,000 |
Gross unrealized gains | 142,887 | 90,477 |
Gross unrealized losses | 0 | (18,840) |
Estimated fair value | 9,242,887 | 8,171,637 |
U S States And Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost | 67,047,540 | 71,103,969 |
Gross unrealized gains | 289,060 | 170,512 |
Gross unrealized losses | (862,311) | (3,587,676) |
Estimated fair value | 66,474,289 | 67,686,805 |
Federal Home Loan Mortgage Corporation Certificates F H L M C [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost | 21,321,085 | 22,706,185 |
Gross unrealized gains | 5,481 | 11,712 |
Gross unrealized losses | (369,834) | (917,543) |
Estimated fair value | 20,956,732 | 21,800,354 |
Federal National Mortgage Association Certificates F N M A [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost | 68,152,342 | 73,425,200 |
Gross unrealized gains | 11,144 | 0 |
Gross unrealized losses | (1,246,977) | (2,976,384) |
Estimated fair value | 66,916,509 | 70,448,816 |
Government National Mortgage Association Certificates And Obligations G N M A [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost | 13,652,136 | 21,736,255 |
Gross unrealized gains | 0 | 3,506 |
Gross unrealized losses | (228,231) | (604,266) |
Estimated fair value | $ 13,423,905 | $ 21,135,495 |
Investment Securities (Details
Investment Securities (Details 1) - USD ($) | Jun. 30, 2017 | Dec. 31, 2016 |
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months, Fair value | $ 128,501,333 | $ 169,731,383 |
Less than 12 months, Unrealized losses | 2,330,296 | 8,366,473 |
12 Months or More, Fair value | 22,271,173 | 4,227,210 |
12 Months or More, Unrealized losses | 544,082 | 129,244 |
Total, Fair value | 150,772,506 | 173,958,594 |
Total, Unrealized losses | 2,874,378 | 8,495,717 |
U S Treasury Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months, Fair value | 3,013,359 | 1,496,016 |
Less than 12 months, Unrealized losses | 6,084 | 3,728 |
12 Months or More, Fair value | 0 | 0 |
12 Months or More, Unrealized losses | 0 | 0 |
Total, Fair value | 3,013,359 | 1,496,016 |
Total, Unrealized losses | 6,084 | 3,728 |
U S Government Agencies Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months, Fair value | 13,382,939 | 7,266,315 |
Less than 12 months, Unrealized losses | 160,941 | 387,280 |
12 Months or More, Fair value | 0 | 0 |
12 Months or More, Unrealized losses | 0 | 0 |
Total, Fair value | 13,382,939 | 7,266,315 |
Total, Unrealized losses | 160,941 | 387,280 |
Municipal Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months, Fair value | 32,234,681 | 50,722,187 |
Less than 12 months, Unrealized losses | 785,478 | 3,587,676 |
12 Months or More, Fair value | 2,500,197 | 0 |
12 Months or More, Unrealized losses | 76,833 | 0 |
Total, Fair value | 34,734,878 | 50,722,187 |
Total, Unrealized losses | 862,311 | 3,587,676 |
Federal Home Loan Mortgage Corporation Certificates F H L M C [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months, Fair value | 19,120,575 | 21,413,620 |
Less than 12 months, Unrealized losses | 326,452 | 917,543 |
12 Months or More, Fair value | 1,645,932 | 0 |
12 Months or More, Unrealized losses | 43,382 | 0 |
Total, Fair value | 20,766,507 | 21,413,620 |
Total, Unrealized losses | 369,834 | 917,543 |
Federal National Mortgage Association Certificates F N M A [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months, Fair value | 50,323,982 | 70,448,817 |
Less than 12 months, Unrealized losses | 879,626 | 2,976,384 |
12 Months or More, Fair value | 15,126,935 | 0 |
12 Months or More, Unrealized losses | 367,351 | 0 |
Total, Fair value | 65,450,917 | 70,448,817 |
Total, Unrealized losses | 1,246,977 | 2,976,384 |
Government National Mortgage Association Certificates And Obligations G N M A [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months, Fair value | 10,425,797 | 16,403,268 |
Less than 12 months, Unrealized losses | 171,715 | 475,022 |
12 Months or More, Fair value | 2,998,109 | 4,227,210 |
12 Months or More, Unrealized losses | 56,516 | 129,244 |
Total, Fair value | 13,423,906 | 20,630,479 |
Total, Unrealized losses | $ 228,231 | 604,266 |
Corporate Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months, Fair value | 1,981,160 | |
Less than 12 months, Unrealized losses | 18,840 | |
12 Months or More, Fair value | 0 | |
12 Months or More, Unrealized losses | 0 | |
Total, Fair value | 1,981,160 | |
Total, Unrealized losses | $ 18,840 |
Investment Securities (Detail32
Investment Securities (Details 2) - USD ($) | Jun. 30, 2017 | Dec. 31, 2016 |
Available for Sale, Amortized cost | ||
Within one year | $ 3,019,443 | |
Over one to five years | 2,265,522 | |
Over five to ten years | 41,915,898 | |
Over ten years | 153,529,891 | |
Total available for sale, Amortized cost | 200,730,754 | $ 207,724,687 |
Available for Sale, Fair value | ||
Within one year | 3,013,359 | |
Over one to five years | 2,271,340 | |
Over five to ten years | 42,012,426 | |
Over ten years | 151,075,328 | |
Investment securities available for sale-at fair value | 198,372,453 | $ 199,505,204 |
Pledged securities | ||
Amortized cost | 39,637,225 | |
Fair value | $ 39,043,138 |
Loans - (Details)
Loans - (Details) - USD ($) | Jun. 30, 2017 | Dec. 31, 2016 | Jun. 30, 2016 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Total before allowance and deferred loan cost | $ 1,450,805,817 | $ 1,366,113,264 | $ 1,246,829,902 | |
Allowance for loan losses | (5,911,842) | (6,195,469) | (6,018,923) | |
Deferred loan costs, net | 1,679,274 | 1,257,411 | ||
Total Loans | 1,446,573,249 | 1,361,175,206 | ||
Commercial Real Estate Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Total before allowance and deferred loan cost | 1,013,530,210 | 848,770,539 | ||
Allowance for loan losses | (3,789,423) | (3,939,232) | ||
Real Estate Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Total before allowance and deferred loan cost | 278,014,464 | 271,718,902 | ||
Allowance for loan losses | (793,795) | (927,072) | ||
Commercial And Industrial Loans [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Total before allowance and deferred loan cost | 154,767,404 | 141,993,464 | ||
Consumer Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Total before allowance and deferred loan cost | 4,493,738 | 5,008,875 | 5,558,235 | |
Allowance for loan losses | (10,377) | $ (9,767) | ||
Owner Occupied [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Total before allowance and deferred loan cost | 312,610,056 | 292,071,087 | ||
Investment [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Total before allowance and deferred loan cost | 486,454,516 | 451,700,513 | ||
Hospitality [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Total before allowance and deferred loan cost | 164,271,149 | 152,805,285 | ||
Land And A And D [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Total before allowance and deferred loan cost | 50,194,490 | 57,339,110 | ||
Residential First Investment [Member] | Real Estate Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Total before allowance and deferred loan cost | 102,145,725 | 95,774,172 | ||
Residential First Owner Occupied [Member] | Real Estate Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Total before allowance and deferred loan cost | 102,520,817 | 97,176,371 | ||
Residential Land And A And D [Member] | Real Estate Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Total before allowance and deferred loan cost | 48,303,457 | 45,225,454 | ||
H E L O C And Jr Leins [Member] | Real Estate Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Total before allowance and deferred loan cost | 25,044,465 | 27,018,933 | ||
Legacy [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Total before allowance and deferred loan cost | [1] | 1,285,819,500 | 1,177,232,361 | |
Allowance for loan losses | [1] | (5,807,254) | (6,084,478) | |
Deferred loan costs, net | [1] | 1,679,274 | 1,257,411 | |
Total Loans | [1] | 1,281,691,520 | 1,172,405,294 | |
Legacy [Member] | Commercial And Industrial Loans [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Total before allowance and deferred loan cost | [1] | 149,943,871 | 136,259,560 | |
Legacy [Member] | Consumer Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Total before allowance and deferred loan cost | [1] | 4,405,042 | 4,868,909 | |
Legacy [Member] | Owner Occupied [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Total before allowance and deferred loan cost | [1] | 266,686,058 | 238,220,475 | |
Legacy [Member] | Investment [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Total before allowance and deferred loan cost | [1] | 453,597,514 | 414,012,709 | |
Legacy [Member] | Hospitality [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Total before allowance and deferred loan cost | [1] | 157,457,044 | 141,611,858 | |
Legacy [Member] | Land And A And D [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Total before allowance and deferred loan cost | [1] | 44,742,020 | 51,323,297 | |
Legacy [Member] | Residential First Investment [Member] | Real Estate Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Total before allowance and deferred loan cost | [1] | 81,285,353 | 72,150,512 | |
Legacy [Member] | Residential First Owner Occupied [Member] | Real Estate Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Total before allowance and deferred loan cost | [1] | 61,719,823 | 54,732,604 | |
Legacy [Member] | Residential Land And A And D [Member] | Real Estate Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Total before allowance and deferred loan cost | [1] | 43,290,769 | 39,667,222 | |
Legacy [Member] | H E L O C And Jr Leins [Member] | Real Estate Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Total before allowance and deferred loan cost | [1] | 22,692,006 | 24,385,215 | |
Acquired [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Total before allowance and deferred loan cost | 164,986,317 | 188,880,903 | ||
Allowance for loan losses | (104,588) | (110,991) | ||
Deferred loan costs, net | 0 | 0 | ||
Total Loans | 164,881,729 | 188,769,912 | ||
Acquired [Member] | Commercial And Industrial Loans [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Total before allowance and deferred loan cost | 4,823,533 | 5,733,904 | ||
Acquired [Member] | Consumer Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Total before allowance and deferred loan cost | 88,696 | 139,966 | ||
Acquired [Member] | Owner Occupied [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Total before allowance and deferred loan cost | 45,923,998 | 53,850,612 | ||
Acquired [Member] | Investment [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Total before allowance and deferred loan cost | 32,857,002 | 37,687,804 | ||
Acquired [Member] | Hospitality [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Total before allowance and deferred loan cost | 6,814,105 | 11,193,427 | ||
Acquired [Member] | Land And A And D [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Total before allowance and deferred loan cost | 5,452,470 | 6,015,813 | ||
Acquired [Member] | Residential First Investment [Member] | Real Estate Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Total before allowance and deferred loan cost | 20,860,372 | 23,623,660 | ||
Acquired [Member] | Residential First Owner Occupied [Member] | Real Estate Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Total before allowance and deferred loan cost | 40,800,994 | 42,443,767 | ||
Acquired [Member] | Residential Land And A And D [Member] | Real Estate Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Total before allowance and deferred loan cost | 5,012,688 | 5,558,232 | ||
Acquired [Member] | H E L O C And Jr Leins [Member] | Real Estate Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Total before allowance and deferred loan cost | $ 2,352,459 | $ 2,633,718 | ||
[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, and Regal Bancorp, Inc. ("Regal"), the parent company of Regal Bank & Trust ("Regal Bank"), in December 2015, we have segmented the portfolio into two components, "Legacy" loans originated by Old Line Bank and "Acquired" loans acquired from MB&T, WSB and Regal Bank. |
Loans - (Details 1)
Loans - (Details 1) - USD ($) | Jun. 30, 2017 | Dec. 31, 2016 | Jun. 30, 2016 | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Current | $ 1,439,699,404 | $ 1,353,011,924 | ||
Total accruing past due loans | 9,210,722 | 6,717,638 | ||
Total Recorded Investment Non-accruing past due loans: | 1,895,691 | 6,383,702 | ||
Total loans | 1,450,805,817 | 1,366,113,264 | $ 1,246,829,902 | |
Financing Receivables30 To89 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total accruing past due loans | 9,188,203 | 5,814,106 | ||
Financing Receivables Equal To Greater Than90 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total accruing past due loans | 22,519 | 903,532 | ||
Commercial Real Estate Portfolio Segment [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total loans | 1,013,530,210 | 848,770,539 | ||
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Recorded Investment Non-accruing past due loans: | 225,432 | 2,370,589 | ||
Total loans | 312,610,056 | 292,071,087 | ||
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Financing Receivables30 To89 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total accruing past due loans | 5,582,775 | 2,799,802 | ||
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Financing Receivables Equal To Greater Than90 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total accruing past due loans | 0 | 634,290 | ||
Commercial Real Estate Portfolio Segment [Member] | Investment [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total loans | 486,454,516 | 451,700,513 | ||
Commercial Real Estate Portfolio Segment [Member] | Investment [Member] | Financing Receivables30 To89 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total accruing past due loans | 769,539 | 794,037 | ||
Commercial Real Estate Portfolio Segment [Member] | Hospitality [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Recorded Investment Non-accruing past due loans: | 0 | 1,346,736 | ||
Total loans | 164,271,149 | 152,805,285 | ||
Commercial Real Estate Portfolio Segment [Member] | Land And A And D [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Recorded Investment Non-accruing past due loans: | 192,382 | 271,962 | ||
Total loans | 50,194,490 | 57,339,110 | ||
Real Estate Portfolio Segment [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total loans | 278,014,464 | 271,718,902 | ||
Real Estate Portfolio Segment [Member] | Residential First Investment [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Recorded Investment Non-accruing past due loans: | 233,759 | 411,354 | ||
Total loans | 102,145,725 | 95,774,172 | ||
Real Estate Portfolio Segment [Member] | Residential First Investment [Member] | Financing Receivables30 To89 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total accruing past due loans | 976,287 | 915,442 | ||
Real Estate Portfolio Segment [Member] | Residential First Owner Occupied [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Recorded Investment Non-accruing past due loans: | 1,041,590 | 222,237 | ||
Total loans | 102,520,817 | 97,176,371 | ||
Real Estate Portfolio Segment [Member] | Residential First Owner Occupied [Member] | Financing Receivables30 To89 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total accruing past due loans | 1,368,567 | 879,718 | ||
Real Estate Portfolio Segment [Member] | Residential First Owner Occupied [Member] | Financing Receivables Equal To Greater Than90 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total accruing past due loans | 3,360 | 250,000 | ||
Real Estate Portfolio Segment [Member] | H E L O C And Jr Leins [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total loans | 25,044,465 | 27,018,933 | ||
Real Estate Portfolio Segment [Member] | H E L O C And Jr Leins [Member] | Financing Receivables30 To89 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total accruing past due loans | 136,820 | 99,946 | ||
Commercial And Industrial Loans [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Recorded Investment Non-accruing past due loans: | 202,528 | 1,760,824 | ||
Total loans | 154,767,404 | 141,993,464 | ||
Commercial And Industrial Loans [Member] | Financing Receivables30 To89 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total accruing past due loans | 353,665 | 325,161 | ||
Consumer Portfolio Segment [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total loans | 4,493,738 | 5,008,875 | 5,558,235 | |
Consumer Portfolio Segment [Member] | Financing Receivables30 To89 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total accruing past due loans | 550 | 0 | ||
Consumer Portfolio Segment [Member] | Financing Receivables Equal To Greater Than90 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total accruing past due loans | 0 | 19,242 | ||
Commercial Portfolio Segment [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total loans | 154,767,405 | $ 120,782,226 | ||
Commercial Portfolio Segment [Member] | Financing Receivables Equal To Greater Than90 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total accruing past due loans | 19,159 | 0 | ||
Legacy [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Current | 1,279,091,477 | 1,167,380,870 | ||
Total accruing past due loans | 6,069,499 | 3,761,649 | ||
Total Recorded Investment Non-accruing past due loans: | 658,524 | 6,089,842 | ||
Total loans | [1] | 1,285,819,500 | 1,177,232,361 | |
Legacy [Member] | Financing Receivables30 To89 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total accruing past due loans | 6,050,340 | 3,742,407 | ||
Legacy [Member] | Financing Receivables Equal To Greater Than90 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total accruing past due loans | 19,159 | 19,242 | ||
Legacy [Member] | Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total accruing past due loans | 0 | |||
Total Recorded Investment Non-accruing past due loans: | 2,370,589 | |||
Total loans | [1] | 266,686,058 | 238,220,475 | |
Legacy [Member] | Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Financing Receivables30 To89 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total accruing past due loans | 4,864,845 | 2,799,802 | ||
Legacy [Member] | Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Financing Receivables Equal To Greater Than90 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total accruing past due loans | 0 | 0 | ||
Legacy [Member] | Commercial Real Estate Portfolio Segment [Member] | Investment [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total loans | [1] | 453,597,514 | 414,012,709 | |
Legacy [Member] | Commercial Real Estate Portfolio Segment [Member] | Investment [Member] | Financing Receivables30 To89 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total accruing past due loans | 0 | 0 | ||
Legacy [Member] | Commercial Real Estate Portfolio Segment [Member] | Hospitality [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total accruing past due loans | 0 | |||
Total Recorded Investment Non-accruing past due loans: | 1,346,736 | |||
Total loans | [1] | 157,457,044 | 141,611,858 | |
Legacy [Member] | Commercial Real Estate Portfolio Segment [Member] | Land And A And D [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total accruing past due loans | 0 | |||
Total Recorded Investment Non-accruing past due loans: | 77,395 | |||
Total loans | [1] | 44,742,020 | 51,323,297 | |
Legacy [Member] | Real Estate Portfolio Segment [Member] | Residential First Investment [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total accruing past due loans | 233,759 | |||
Total Recorded Investment Non-accruing past due loans: | 312,061 | |||
Total loans | [1] | 81,285,353 | 72,150,512 | |
Legacy [Member] | Real Estate Portfolio Segment [Member] | Residential First Investment [Member] | Financing Receivables30 To89 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total accruing past due loans | 461,119 | 517,498 | ||
Legacy [Member] | Real Estate Portfolio Segment [Member] | Residential First Owner Occupied [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total accruing past due loans | 222,237 | |||
Total Recorded Investment Non-accruing past due loans: | 222,237 | |||
Total loans | [1] | 61,719,823 | 54,732,604 | |
Legacy [Member] | Real Estate Portfolio Segment [Member] | Residential First Owner Occupied [Member] | Financing Receivables30 To89 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total accruing past due loans | 233,891 | 0 | ||
Legacy [Member] | Real Estate Portfolio Segment [Member] | Residential First Owner Occupied [Member] | Financing Receivables Equal To Greater Than90 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total accruing past due loans | 0 | 0 | ||
Legacy [Member] | Real Estate Portfolio Segment [Member] | H E L O C And Jr Leins [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total loans | [1] | 22,692,006 | 24,385,215 | |
Legacy [Member] | Real Estate Portfolio Segment [Member] | H E L O C And Jr Leins [Member] | Financing Receivables30 To89 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total accruing past due loans | 136,820 | 99,946 | ||
Legacy [Member] | Commercial And Industrial Loans [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total accruing past due loans | 202,528 | |||
Total Recorded Investment Non-accruing past due loans: | 1,760,824 | |||
Total loans | [1] | 149,943,871 | 136,259,560 | |
Legacy [Member] | Commercial And Industrial Loans [Member] | Financing Receivables30 To89 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total accruing past due loans | 353,665 | 325,161 | ||
Legacy [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total loans | [1] | 4,405,042 | 4,868,909 | |
Legacy [Member] | Consumer Portfolio Segment [Member] | Financing Receivables30 To89 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total accruing past due loans | 0 | 0 | ||
Legacy [Member] | Consumer Portfolio Segment [Member] | Financing Receivables Equal To Greater Than90 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total accruing past due loans | 0 | 19,242 | ||
Legacy [Member] | Commercial Portfolio Segment [Member] | Financing Receivables Equal To Greater Than90 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total accruing past due loans | 19,159 | 0 | ||
Acquired [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Current | 160,607,927 | 185,631,054 | ||
Total accruing past due loans | 3,141,223 | 2,955,989 | ||
Total Recorded Investment Non-accruing past due loans: | 1,237,167 | 293,860 | ||
Total loans | 164,986,317 | 188,880,903 | ||
Acquired [Member] | Financing Receivables30 To89 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total accruing past due loans | 3,137,863 | 2,071,699 | ||
Acquired [Member] | Financing Receivables Equal To Greater Than90 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total accruing past due loans | 3,360 | 884,290 | ||
Acquired [Member] | Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Recorded Investment Non-accruing past due loans: | 225,432 | 0 | ||
Total loans | 45,923,998 | 53,850,612 | ||
Acquired [Member] | Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Financing Receivables30 To89 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total accruing past due loans | 717,930 | 0 | ||
Acquired [Member] | Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Financing Receivables Equal To Greater Than90 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total accruing past due loans | 0 | 634,290 | ||
Acquired [Member] | Commercial Real Estate Portfolio Segment [Member] | Investment [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total loans | 32,857,002 | 37,687,804 | ||
Acquired [Member] | Commercial Real Estate Portfolio Segment [Member] | Investment [Member] | Financing Receivables30 To89 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total accruing past due loans | 769,539 | 794,037 | ||
Acquired [Member] | Commercial Real Estate Portfolio Segment [Member] | Hospitality [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Recorded Investment Non-accruing past due loans: | 0 | 0 | ||
Total loans | 6,814,105 | 11,193,427 | ||
Acquired [Member] | Commercial Real Estate Portfolio Segment [Member] | Land And A And D [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Recorded Investment Non-accruing past due loans: | 192,382 | 194,567 | ||
Total loans | 5,452,470 | 6,015,813 | ||
Acquired [Member] | Real Estate Portfolio Segment [Member] | Residential First Investment [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Recorded Investment Non-accruing past due loans: | 0 | 99,293 | ||
Total loans | 20,860,372 | 23,623,660 | ||
Acquired [Member] | Real Estate Portfolio Segment [Member] | Residential First Investment [Member] | Financing Receivables30 To89 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total accruing past due loans | 515,168 | 397,944 | ||
Acquired [Member] | Real Estate Portfolio Segment [Member] | Residential First Owner Occupied [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Recorded Investment Non-accruing past due loans: | 819,353 | 0 | ||
Total loans | 40,800,994 | 42,443,767 | ||
Acquired [Member] | Real Estate Portfolio Segment [Member] | Residential First Owner Occupied [Member] | Financing Receivables30 To89 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total accruing past due loans | 1,134,676 | 879,718 | ||
Acquired [Member] | Real Estate Portfolio Segment [Member] | Residential First Owner Occupied [Member] | Financing Receivables Equal To Greater Than90 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total accruing past due loans | 3,360 | 250,000 | ||
Acquired [Member] | Real Estate Portfolio Segment [Member] | H E L O C And Jr Leins [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total loans | 2,352,459 | 2,633,718 | ||
Acquired [Member] | Real Estate Portfolio Segment [Member] | H E L O C And Jr Leins [Member] | Financing Receivables30 To89 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total accruing past due loans | 0 | 0 | ||
Acquired [Member] | Commercial And Industrial Loans [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Recorded Investment Non-accruing past due loans: | 0 | 0 | ||
Total loans | 4,823,533 | 5,733,904 | ||
Acquired [Member] | Commercial And Industrial Loans [Member] | Financing Receivables30 To89 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total accruing past due loans | 0 | 0 | ||
Acquired [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total loans | 88,696 | 139,966 | ||
Acquired [Member] | Consumer Portfolio Segment [Member] | Financing Receivables30 To89 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total accruing past due loans | 550 | 0 | ||
Acquired [Member] | Consumer Portfolio Segment [Member] | Financing Receivables Equal To Greater Than90 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total accruing past due loans | 0 | 0 | ||
Acquired [Member] | Commercial Portfolio Segment [Member] | Financing Receivables Equal To Greater Than90 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total accruing past due loans | $ 0 | $ 0 | ||
[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, and Regal Bancorp, Inc. ("Regal"), the parent company of Regal Bank & Trust ("Regal Bank"), in December 2015, we have segmented the portfolio into two components, "Legacy" loans originated by Old Line Bank and "Acquired" loans acquired from MB&T, WSB and Regal Bank. |
Loans - (Details 2)
Loans - (Details 2) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended |
Jun. 30, 2017 | Jun. 30, 2017 | Dec. 31, 2016 | |
Unpaid Principal Balance | |||
Total | $ 7,298,893 | $ 7,298,893 | $ 10,030,983 |
Recorded Investment | |||
Total | 6,835,996 | 6,835,996 | 9,456,664 |
Related Allowance | |||
Total | 453,888 | 453,888 | 1,393,006 |
Average Recorded Investment | |||
Total | 7,303,537 | 7,411,761 | 22,511,712 |
Interest Income Recognized | |||
Total | 51,647 | 128,335 | 260,125 |
Legacy [Member] | |||
Unpaid Principal Balance | |||
Total | 4,772,702 | 4,772,702 | 8,257,935 |
Recorded Investment | |||
Total | 4,772,702 | 4,772,702 | 8,257,935,000 |
Related Allowance | |||
Total | 349,300 | 349,300 | 1,282,015 |
Average Recorded Investment | |||
Total | 4,772,702 | 4,873,314 | 20,035,287 |
Interest Income Recognized | |||
Total | 41,067 | 99,419 | 212,901 |
Legacy [Member] | Commercial Portfolio Segment [Member] | |||
Unpaid Principal Balance | |||
With no related allowance recorded | 405,368 | 405,368 | 843,809 |
With an allowance recorded | 1,016,479 | ||
Recorded Investment | |||
With no related allowance recorded | 405,368 | 405,368 | 843,809 |
With an allowance recorded | 1,016,479 | ||
Related Allowance | |||
Total | 609,152 | ||
Average Recorded Investment | |||
With no related allowance recorded | 405,368 | 345,972 | 3,338,295 |
With an allowance recorded | 300,234 | 300,806 | 1,976,689 |
Interest Income Recognized | |||
With no related allowance recorded | 3,700 | 23,130 | 3,761 |
With an allowance recorded | 125 | 2,493 | 4,476 |
Legacy [Member] | Owner Occupied [Member] | Commercial Real Estate Portfolio Segment [Member] | |||
Unpaid Principal Balance | |||
With no related allowance recorded | 1,825,757 | 1,825,757 | 566,973 |
With an allowance recorded | 0 | 0 | 2,048,989 |
Recorded Investment | |||
With no related allowance recorded | 1,825,757 | 1,825,757 | 566,973 |
With an allowance recorded | 0 | 0 | 2,048,989 |
Related Allowance | |||
Total | 0 | 0 | 443,489 |
Average Recorded Investment | |||
With no related allowance recorded | 1,825,757 | 1,967,633 | 1,223,360 |
With an allowance recorded | 0 | 6,605,858 | |
Interest Income Recognized | |||
With no related allowance recorded | 19,303 | 32,431 | 12,759 |
With an allowance recorded | 0 | 50,348 | |
Legacy [Member] | Investment [Member] | Commercial Real Estate Portfolio Segment [Member] | |||
Unpaid Principal Balance | |||
With no related allowance recorded | 1,183,812 | 1,183,812 | 1,212,771 |
With an allowance recorded | 601,535 | 601,535 | 610,485 |
Recorded Investment | |||
With no related allowance recorded | 1,183,812 | 1,183,812 | 1,212,771 |
With an allowance recorded | 601,535 | 601,535 | 610,485 |
Related Allowance | |||
Total | 28,803 | 28,803 | 33,335 |
Average Recorded Investment | |||
With no related allowance recorded | 1,183,812 | 1,196,978 | 1,208,240 |
With an allowance recorded | 601,535 | 605,929 | 610,373 |
Interest Income Recognized | |||
With no related allowance recorded | 9,070 | 26,001 | 54,531 |
With an allowance recorded | 7,739 | 15,364 | 46,550 |
Legacy [Member] | Residential First Investment [Member] | Real Estate Portfolio Segment [Member] | |||
Unpaid Principal Balance | |||
With no related allowance recorded | 41,258 | 41,258 | |
With an allowance recorded | 192,501 | 192,501 | |
Recorded Investment | |||
With no related allowance recorded | 41,258 | 41,258 | |
With an allowance recorded | 192,501 | 192,501 | |
Related Allowance | |||
Total | 20,263 | 20,263 | |
Average Recorded Investment | |||
With no related allowance recorded | 41,258 | 41,258 | |
With an allowance recorded | 192,501 | 192,501 | |
Interest Income Recognized | |||
With no related allowance recorded | 0 | 0 | |
With an allowance recorded | 0 | 0 | |
Legacy [Member] | Residential First Owner Occupied [Member] | Real Estate Portfolio Segment [Member] | |||
Unpaid Principal Balance | |||
With no related allowance recorded | 222,237 | 222,237 | 222,237 |
With an allowance recorded | 300,234 | 300,234 | 312,061 |
Recorded Investment | |||
With no related allowance recorded | 222,237 | 222,237 | 222,237 |
With an allowance recorded | 300,234 | 300,234 | 312,061 |
Related Allowance | |||
Total | 300,234 | 300,234 | 45,505 |
Average Recorded Investment | |||
With no related allowance recorded | 222,237 | 222,237 | 243,699 |
With an allowance recorded | 547,024 | ||
Interest Income Recognized | |||
With no related allowance recorded | 0 | 0 | 5,440 |
With an allowance recorded | 9,348 | ||
Legacy [Member] | Land And A And D [Member] | Commercial Real Estate Portfolio Segment [Member] | |||
Unpaid Principal Balance | |||
With an allowance recorded | 77,395 | ||
Recorded Investment | |||
With an allowance recorded | 77,395 | ||
Related Allowance | |||
Total | 15,860 | ||
Average Recorded Investment | |||
With an allowance recorded | 82,587 | ||
Interest Income Recognized | |||
With an allowance recorded | 4,729 | ||
Legacy [Member] | Hospitality [Member] | Commercial Real Estate Portfolio Segment [Member] | |||
Unpaid Principal Balance | |||
With an allowance recorded | 1,346,736 | ||
Recorded Investment | |||
With an allowance recorded | 1,346,736 | ||
Related Allowance | |||
Total | 134,674 | ||
Average Recorded Investment | |||
With an allowance recorded | 4,199,162 | ||
Interest Income Recognized | |||
With an allowance recorded | 20,959 | ||
Acquired [Member] | |||
Unpaid Principal Balance | |||
Total | 2,526,191 | 2,526,191 | 1,773,048 |
Recorded Investment | |||
Total | 2,063,294 | 2,063,294 | 1,198,729,000 |
Related Allowance | |||
Total | 104,588 | 104,588 | 110,991 |
Average Recorded Investment | |||
Total | 2,530,835 | 2,538,447 | 2,476,425 |
Interest Income Recognized | |||
Total | 10,580 | 28,916 | 47,224 |
Acquired [Member] | Commercial Portfolio Segment [Member] | |||
Unpaid Principal Balance | |||
With an allowance recorded | 74,197 | 74,197 | 76,243 |
Recorded Investment | |||
With an allowance recorded | 74,197 | 74,197 | 76,243 |
Related Allowance | |||
Total | 24,516 | 24,516 | 27,207 |
Average Recorded Investment | |||
With an allowance recorded | 73,898 | 75,077 | 83,049 |
Interest Income Recognized | |||
With an allowance recorded | 948 | 1,900 | 3,992 |
Acquired [Member] | Owner Occupied [Member] | Commercial Real Estate Portfolio Segment [Member] | |||
Unpaid Principal Balance | |||
With no related allowance recorded | 252,687 | 252,687 | |
Recorded Investment | |||
With no related allowance recorded | 252,687 | 252,687 | |
Average Recorded Investment | |||
With no related allowance recorded | 252,687 | 252,743 | |
Interest Income Recognized | |||
With no related allowance recorded | 0 | 2,155 | |
Acquired [Member] | Investment [Member] | Real Estate Portfolio Segment [Member] | |||
Average Recorded Investment | |||
With no related allowance recorded | 132,715 | 133,367 | |
Interest Income Recognized | |||
With no related allowance recorded | 1,106 | 2,194 | |
Acquired [Member] | Residential First Investment [Member] | Real Estate Portfolio Segment [Member] | |||
Unpaid Principal Balance | |||
With no related allowance recorded | 132,715 | 132,715 | 292,349 |
Recorded Investment | |||
With no related allowance recorded | 71,348 | 71,348 | 171,348 |
Average Recorded Investment | |||
With no related allowance recorded | 233,133 | ||
Interest Income Recognized | |||
With no related allowance recorded | 4,383 | ||
Acquired [Member] | Residential First Owner Occupied [Member] | Real Estate Portfolio Segment [Member] | |||
Unpaid Principal Balance | |||
With no related allowance recorded | 151,891 | 151,891 | 662,835 |
Recorded Investment | |||
With no related allowance recorded | 1,469,632 | 1,469,632 | 662,835 |
Average Recorded Investment | |||
With no related allowance recorded | 1,581,653 | 1,587,209 | 1,408,689 |
Interest Income Recognized | |||
With no related allowance recorded | 8,526 | 21,844 | 19,899 |
Acquired [Member] | Residential Land And A And D [Member] | Real Estate Portfolio Segment [Member] | |||
Unpaid Principal Balance | |||
With no related allowance recorded | 334,271 | 334,271 | 334,271 |
Recorded Investment | |||
With no related allowance recorded | 45,000 | 45,000 | 45,000 |
Average Recorded Investment | |||
With no related allowance recorded | 334,271 | 334,271 | 334,271 |
Interest Income Recognized | |||
With no related allowance recorded | 0 | 0 | 0 |
Acquired [Member] | Land And A And D [Member] | Commercial Real Estate Portfolio Segment [Member] | |||
Unpaid Principal Balance | |||
With no related allowance recorded | 255,716 | ||
With an allowance recorded | 150,430 | 150,430 | 151,364 |
Recorded Investment | |||
With no related allowance recorded | 91,669 | ||
With an allowance recorded | 150,430 | 150,430 | 151,364 |
Related Allowance | |||
Total | 80,072 | 80,072 | 83,784 |
Average Recorded Investment | |||
With no related allowance recorded | 255,661 | ||
With an allowance recorded | 155,611 | 155,780 | 161,622 |
Interest Income Recognized | |||
With no related allowance recorded | 13,686 | ||
With an allowance recorded | $ 0 | $ 823 | $ 5,264 |
Loans - (Details 3)
Loans - (Details 3) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017USD ($)contract | Jun. 30, 2016USD ($)contract | Jun. 30, 2017USD ($)contract | Jun. 30, 2016USD ($)contract | |
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | contract | 0 | 0 | 2 | 2 |
Pre-Modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 2,011,064 | $ 392,842 |
Post Modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 1,990,241 | $ 158,382 |
Legacy [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | contract | 0 | 0 | 2 | 0 |
Pre-Modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 2,011,064 | $ 0 |
Post Modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 1,990,241 | $ 0 |
Legacy [Member] | Real Estate Portfolio Segment [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | contract | 0 | 0 | 1 | 0 |
Pre-Modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 1,596,740 | $ 0 |
Post Modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 1,584,913 | $ 0 |
Legacy [Member] | Residential Non-Owner Occupied [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | contract | 0 | 0 | ||
Pre-Modification Outstanding Recorded Investment | $ 0 | $ 0 | ||
Post Modification Outstanding Recorded Investment | $ 0 | $ 0 | ||
Legacy [Member] | Commercial Portfolio Segment [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | contract | 0 | 0 | 1 | 0 |
Pre-Modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 414,324 | $ 0 |
Post Modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 405,328 | $ 0 |
Acquired [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | contract | 0 | 0 | 0 | 2 |
Pre-Modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 0 | $ 392,842 |
Post Modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 0 | $ 158,382 |
Acquired [Member] | Real Estate Portfolio Segment [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | contract | 0 | 0 | 0 | 1 |
Pre-Modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 0 | $ 256,669 |
Post Modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 0 | $ 91,929 |
Acquired [Member] | Residential Non-Owner Occupied [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | contract | 0 | 0 | 0 | 1 |
Pre-Modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 0 | $ 136,173 |
Post Modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 0 | $ 66,453 |
Acquired [Member] | Commercial Portfolio Segment [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | contract | 0 | 0 | ||
Pre-Modification Outstanding Recorded Investment | $ 0 | $ 0 | ||
Post Modification Outstanding Recorded Investment | $ 0 | $ 0 |
Loans - (Details 4)
Loans - (Details 4) - USD ($) | 6 Months Ended | |||
Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | Dec. 31, 2015 | |
Accretable Yield | ||||
Contractually Required Payments Receivable | $ 8,311,088 | $ 12,798,858 | $ 9,597,703 | $ 14,875,352 |
Carrying Amount | 6,643,878 | 10,099,810 | $ 7,558,415 | $ 10,675,943 |
Acquired [Member] | ||||
Accretable Yield | ||||
Beginning balance | (22,980) | 276,892 | ||
Accretion of fair value discounts | (51,722) | (44,967) | ||
Payoff of acquired loans | 0 | (390,990) | ||
Reclassification from non-accretable | 52,807 | 352,714 | ||
Ending balance | $ (21,895) | $ 193,649 |
Loans - (Details 5)
Loans - (Details 5) - USD ($) | Jun. 30, 2017 | Dec. 31, 2016 | Jun. 30, 2016 | |
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | $ 1,450,805,817 | $ 1,366,113,264 | $ 1,246,829,902 | |
Pass [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 1,416,441,308 | 1,326,049,571 | ||
Special Mention [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 22,461,423 | 21,762,896 | ||
Substandard [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 11,903,086 | 18,300,797 | ||
Doubtful [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 0 | 0 | ||
Loss [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 0 | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 1,013,530,210 | 848,770,539 | ||
Real Estate Portfolio Segment [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 278,014,464 | $ 271,718,902 | ||
Owner Occupied [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 312,610,056 | 292,071,087 | ||
Owner Occupied [Member] | Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 300,519,871 | 280,054,728 | ||
Owner Occupied [Member] | Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 8,042,753 | 7,372,079 | ||
Owner Occupied [Member] | Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 4,047,431 | 4,644,279 | ||
Investment [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 486,454,516 | 451,700,513 | ||
Investment [Member] | Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 482,137,449 | 444,005,052 | ||
Investment [Member] | Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 2,141,040 | 2,177,065 | ||
Investment [Member] | Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 2,176,026 | 5,518,394 | ||
Hospitality [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 164,271,149 | 152,805,285 | ||
Hospitality [Member] | Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 162,866,593 | 150,046,860 | ||
Hospitality [Member] | Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 1,404,556 | 1,411,689 | ||
Hospitality [Member] | Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 1,346,736 | |||
Land And A And D [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 50,194,490 | 57,339,110 | ||
Land And A And D [Member] | Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 47,573,497 | 54,632,801 | ||
Land And A And D [Member] | Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 2,575,994 | 2,661,309 | ||
Land And A And D [Member] | Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 45,000 | 45,000 | ||
Residential First Investment [Member] | Real Estate Portfolio Segment [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 102,145,725 | 95,774,172 | ||
Residential First Investment [Member] | Real Estate Portfolio Segment [Member] | Pass [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 99,736,165 | 92,879,243 | ||
Residential First Investment [Member] | Real Estate Portfolio Segment [Member] | Special Mention [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 1,543,535 | 1,826,220 | ||
Residential First Investment [Member] | Real Estate Portfolio Segment [Member] | Substandard [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 866,025 | 1,068,709 | ||
Residential First Owner Occupied [Member] | Real Estate Portfolio Segment [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 102,520,817 | 97,176,371 | ||
Residential First Owner Occupied [Member] | Real Estate Portfolio Segment [Member] | Pass [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 98,037,200 | 93,213,303 | ||
Residential First Owner Occupied [Member] | Real Estate Portfolio Segment [Member] | Special Mention [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 2,156,250 | 2,190,734 | ||
Residential First Owner Occupied [Member] | Real Estate Portfolio Segment [Member] | Substandard [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 2,327,368 | 1,772,335 | ||
Residential Land And A And D [Member] | Real Estate Portfolio Segment [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 48,303,457 | 45,225,454 | ||
Residential Land And A And D [Member] | Real Estate Portfolio Segment [Member] | Pass [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 44,925,991 | 41,210,732 | ||
Residential Land And A And D [Member] | Real Estate Portfolio Segment [Member] | Special Mention [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 3,120,352 | 3,470,324 | ||
Residential Land And A And D [Member] | Real Estate Portfolio Segment [Member] | Substandard [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 257,114 | 544,399 | ||
H E L O C And Jr Leins [Member] | Real Estate Portfolio Segment [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 25,044,465 | 27,018,933 | ||
H E L O C And Jr Leins [Member] | Real Estate Portfolio Segment [Member] | Pass [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 25,044,465 | 27,018,933 | ||
Commercial [Member] | Real Estate Portfolio Segment [Member] | Pass [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 151,106,339 | 137,979,044 | ||
Commercial [Member] | Real Estate Portfolio Segment [Member] | Special Mention [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 1,476,943 | 653,476 | ||
Commercial [Member] | Real Estate Portfolio Segment [Member] | Substandard [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 2,184,122 | 3,360,945 | ||
Consumer [Member] | Real Estate Portfolio Segment [Member] | Pass [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 4,493,738 | 5,008,875 | ||
Consumer [Member] | Real Estate Portfolio Segment [Member] | Substandard [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 0 | |||
Legacy [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | [1] | 1,285,819,500 | 1,177,232,361 | |
Legacy [Member] | Pass [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 1,265,879,652 | 1,153,808,754 | ||
Legacy [Member] | Special Mention [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 12,682,559 | 9,727,434 | ||
Legacy [Member] | Substandard [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 7,257,289 | 13,696,173 | ||
Legacy [Member] | Doubtful [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 0 | 0 | ||
Legacy [Member] | Loss [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 0 | 0 | ||
Legacy [Member] | Owner Occupied [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | [1] | 266,686,058 | 238,220,475 | |
Legacy [Member] | Owner Occupied [Member] | Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 259,552,188 | 231,985,682 | ||
Legacy [Member] | Owner Occupied [Member] | Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 4,503,876 | 2,799,801 | ||
Legacy [Member] | Owner Occupied [Member] | Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 2,629,993 | 3,434,990 | ||
Legacy [Member] | Investment [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | [1] | 453,597,514 | 414,012,709 | |
Legacy [Member] | Investment [Member] | Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 450,729,071 | 408,875,014 | ||
Legacy [Member] | Investment [Member] | Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 1,083,096 | 400,228 | ||
Legacy [Member] | Investment [Member] | Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 1,785,347 | 4,737,465 | ||
Legacy [Member] | Hospitality [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | [1] | 157,457,044 | 141,611,858 | |
Legacy [Member] | Hospitality [Member] | Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 157,457,044 | 140,265,123 | ||
Legacy [Member] | Hospitality [Member] | Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 0 | 0 | ||
Legacy [Member] | Hospitality [Member] | Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 1,346,736 | |||
Legacy [Member] | Land And A And D [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | [1] | 44,742,020 | 51,323,297 | |
Legacy [Member] | Land And A And D [Member] | Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 42,304,057 | 48,817,229 | ||
Legacy [Member] | Land And A And D [Member] | Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 2,437,963 | 2,506,068 | ||
Legacy [Member] | Land And A And D [Member] | Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 0 | 0 | ||
Legacy [Member] | Residential First Investment [Member] | Real Estate Portfolio Segment [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | [1] | 81,285,353 | 72,150,512 | |
Legacy [Member] | Residential First Investment [Member] | Real Estate Portfolio Segment [Member] | Pass [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 80,284,280 | 70,980,640 | ||
Legacy [Member] | Residential First Investment [Member] | Real Estate Portfolio Segment [Member] | Special Mention [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 491,815 | 577,767 | ||
Legacy [Member] | Residential First Investment [Member] | Real Estate Portfolio Segment [Member] | Substandard [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 509,258 | 592,106 | ||
Legacy [Member] | Residential First Owner Occupied [Member] | Real Estate Portfolio Segment [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | [1] | 61,719,823 | 54,732,604 | |
Legacy [Member] | Residential First Owner Occupied [Member] | Real Estate Portfolio Segment [Member] | Pass [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 61,193,426 | 54,201,816 | ||
Legacy [Member] | Residential First Owner Occupied [Member] | Real Estate Portfolio Segment [Member] | Special Mention [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 304,160 | 308,552 | ||
Legacy [Member] | Residential First Owner Occupied [Member] | Real Estate Portfolio Segment [Member] | Substandard [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 222,237 | 222,237 | ||
Legacy [Member] | Residential Land And A And D [Member] | Real Estate Portfolio Segment [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | [1] | 43,290,769 | 39,667,222 | |
Legacy [Member] | Residential Land And A And D [Member] | Real Estate Portfolio Segment [Member] | Pass [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 40,849,195 | 36,910,902 | ||
Legacy [Member] | Residential Land And A And D [Member] | Real Estate Portfolio Segment [Member] | Special Mention [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 2,441,574 | 2,678,925 | ||
Legacy [Member] | Residential Land And A And D [Member] | Real Estate Portfolio Segment [Member] | Substandard [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 0 | 77,395 | ||
Legacy [Member] | H E L O C And Jr Leins [Member] | Real Estate Portfolio Segment [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | [1] | 22,692,006 | 24,385,215 | |
Legacy [Member] | H E L O C And Jr Leins [Member] | Real Estate Portfolio Segment [Member] | Pass [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 22,692,006 | 24,385,215 | ||
Legacy [Member] | Commercial [Member] | Real Estate Portfolio Segment [Member] | Pass [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 146,413,343 | 132,518,224 | ||
Legacy [Member] | Commercial [Member] | Real Estate Portfolio Segment [Member] | Special Mention [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 1,420,075 | 456,093 | ||
Legacy [Member] | Commercial [Member] | Real Estate Portfolio Segment [Member] | Substandard [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 2,110,454 | 3,285,244 | ||
Legacy [Member] | Consumer [Member] | Real Estate Portfolio Segment [Member] | Pass [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 4,405,042 | 4,868,909 | ||
Legacy [Member] | Consumer [Member] | Real Estate Portfolio Segment [Member] | Substandard [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 0 | |||
Acquired [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 164,986,317 | 188,880,903 | ||
Acquired [Member] | Pass [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 150,561,656 | 172,240,817 | ||
Acquired [Member] | Special Mention [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 9,778,864 | 12,035,462 | ||
Acquired [Member] | Substandard [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 4,645,797 | 4,604,624 | ||
Acquired [Member] | Doubtful [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 0 | 0 | ||
Acquired [Member] | Loss [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 0 | 0 | ||
Acquired [Member] | Owner Occupied [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 45,923,998 | 53,850,612 | ||
Acquired [Member] | Owner Occupied [Member] | Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 40,967,683 | 48,069,046 | ||
Acquired [Member] | Owner Occupied [Member] | Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 3,538,877 | 4,572,278 | ||
Acquired [Member] | Owner Occupied [Member] | Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 1,417,438 | 1,209,289 | ||
Acquired [Member] | Investment [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 32,857,002 | 37,687,804 | ||
Acquired [Member] | Investment [Member] | Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 31,408,378 | 35,130,038 | ||
Acquired [Member] | Investment [Member] | Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 1,057,944 | 1,776,837 | ||
Acquired [Member] | Investment [Member] | Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 390,679 | 780,929 | ||
Acquired [Member] | Hospitality [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 6,814,105 | 11,193,427 | ||
Acquired [Member] | Hospitality [Member] | Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 5,409,549 | 9,781,737 | ||
Acquired [Member] | Hospitality [Member] | Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 1,404,556 | 1,411,689 | ||
Acquired [Member] | Hospitality [Member] | Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 0 | |||
Acquired [Member] | Land And A And D [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 5,452,470 | 6,015,813 | ||
Acquired [Member] | Land And A And D [Member] | Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 5,269,440 | 5,815,572 | ||
Acquired [Member] | Land And A And D [Member] | Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 138,031 | 155,241 | ||
Acquired [Member] | Land And A And D [Member] | Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 45,000 | 45,000 | ||
Acquired [Member] | Residential First Investment [Member] | Real Estate Portfolio Segment [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 20,860,372 | 23,623,660 | ||
Acquired [Member] | Residential First Investment [Member] | Real Estate Portfolio Segment [Member] | Pass [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 19,451,885 | 21,898,603 | ||
Acquired [Member] | Residential First Investment [Member] | Real Estate Portfolio Segment [Member] | Special Mention [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 1,051,720 | 1,248,453 | ||
Acquired [Member] | Residential First Investment [Member] | Real Estate Portfolio Segment [Member] | Substandard [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 356,767 | 476,603 | ||
Acquired [Member] | Residential First Owner Occupied [Member] | Real Estate Portfolio Segment [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 40,800,994 | 42,443,767 | ||
Acquired [Member] | Residential First Owner Occupied [Member] | Real Estate Portfolio Segment [Member] | Pass [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 36,843,774 | 39,011,487 | ||
Acquired [Member] | Residential First Owner Occupied [Member] | Real Estate Portfolio Segment [Member] | Special Mention [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 1,852,090 | 1,882,182 | ||
Acquired [Member] | Residential First Owner Occupied [Member] | Real Estate Portfolio Segment [Member] | Substandard [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 2,105,131 | 1,550,098 | ||
Acquired [Member] | Residential Land And A And D [Member] | Real Estate Portfolio Segment [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 5,012,688 | 5,558,232 | ||
Acquired [Member] | Residential Land And A And D [Member] | Real Estate Portfolio Segment [Member] | Pass [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 4,076,796 | 4,299,830 | ||
Acquired [Member] | Residential Land And A And D [Member] | Real Estate Portfolio Segment [Member] | Special Mention [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 678,778 | 791,399 | ||
Acquired [Member] | Residential Land And A And D [Member] | Real Estate Portfolio Segment [Member] | Substandard [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 257,114 | 467,004 | ||
Acquired [Member] | H E L O C And Jr Leins [Member] | Real Estate Portfolio Segment [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 2,352,459 | 2,633,718 | ||
Acquired [Member] | H E L O C And Jr Leins [Member] | Real Estate Portfolio Segment [Member] | Pass [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 2,352,459 | 2,633,718 | ||
Acquired [Member] | Commercial [Member] | Real Estate Portfolio Segment [Member] | Pass [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 4,692,996 | 5,460,820 | ||
Acquired [Member] | Commercial [Member] | Real Estate Portfolio Segment [Member] | Special Mention [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 56,868 | 197,383 | ||
Acquired [Member] | Commercial [Member] | Real Estate Portfolio Segment [Member] | Substandard [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | 73,668 | 75,701 | ||
Acquired [Member] | Consumer [Member] | Real Estate Portfolio Segment [Member] | Pass [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | $ 88,696 | 139,966 | ||
Acquired [Member] | Consumer [Member] | Real Estate Portfolio Segment [Member] | Substandard [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Account balance | $ 0 | |||
[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, and Regal Bancorp, Inc. ("Regal"), the parent company of Regal Bank & Trust ("Regal Bank"), in December 2015, we have segmented the portfolio into two components, "Legacy" loans originated by Old Line Bank and "Acquired" loans acquired from MB&T, WSB and Regal Bank. |
Loans - (Details 6)
Loans - (Details 6) - USD ($) | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | ||
Activity in the allowance for loan losses | ||||||
Beginning balance | $ 5,609,789 | $ 5,705,857 | $ 6,195,469 | $ 4,909,818 | ||
Provision for loan losses | 278,916 | 300,000 | 719,407 | 1,078,611 | ||
Recoveries | 23,137 | 21,906 | 28,828 | 44,307 | ||
Allowance for loan losses before charge offs | 5,911,842 | 6,027,763 | 6,943,704 | 6,032,736 | ||
Loans charged off | 0 | (8,840) | (1,031,862) | (13,813) | ||
Ending Balance | 5,911,842 | 6,018,923 | 5,911,842 | 6,018,923 | ||
Amount allocated to: | ||||||
Ending balance | 5,911,842 | 6,018,923 | 5,911,842 | 6,018,923 | $ 6,195,469 | |
Commercial Portfolio Segment [Member] | ||||||
Activity in the allowance for loan losses | ||||||
Beginning balance | 1,233,152 | 989,005 | 1,372,235 | 1,168,529 | ||
Provision for loan losses | 84,583 | 146,461 | 514,972 | (35,490) | ||
Recoveries | 512 | 7,386 | 1,563 | 14,285 | ||
Allowance for loan losses before charge offs | 1,318,247 | 1,142,852 | 1,888,770 | 1,147,324 | ||
Loans charged off | 0 | 0 | (570,523) | (4,472) | ||
Ending Balance | 1,318,247 | 1,142,852 | 1,318,247 | 1,142,852 | ||
Amount allocated to: | ||||||
Ending balance | 1,318,247 | 1,142,852 | 1,318,247 | 1,142,852 | ||
Commercial Real Estate Portfolio Segment [Member] | ||||||
Activity in the allowance for loan losses | ||||||
Beginning balance | 3,683,260 | 3,801,163 | 3,990,152 | 3,046,714 | ||
Provision for loan losses | 105,746 | 138,069 | 238,360 | 892,518 | ||
Recoveries | 417 | 0 | 833 | 0 | ||
Allowance for loan losses before charge offs | 3,789,423 | 3,939,232 | 4,229,345 | 3,939,232 | ||
Loans charged off | 0 | 0 | (439,922) | 0 | ||
Ending Balance | 3,789,423 | 3,939,232 | 3,789,423 | 3,939,232 | ||
Amount allocated to: | ||||||
Ending balance | 3,789,423 | 3,939,232 | 3,789,423 | 3,939,232 | ||
Real Estate Portfolio Segment [Member] | ||||||
Activity in the allowance for loan losses | ||||||
Beginning balance | 684,541 | 904,204 | 823,520 | 682,962 | ||
Provision for loan losses | 109,254 | 14,615 | (28,357) | 227,996 | ||
Recoveries | 0 | 11,308 | 900 | 19,169 | ||
Allowance for loan losses before charge offs | 793,795 | 930,127 | 796,063 | 930,127 | ||
Loans charged off | 0 | (3,055) | (2,268) | (3,055) | ||
Ending Balance | 793,795 | 927,072 | 793,795 | 927,072 | ||
Amount allocated to: | ||||||
Ending balance | 793,795 | 927,072 | 793,795 | 927,072 | ||
Consumer Portfolio Segment [Member] | ||||||
Activity in the allowance for loan losses | ||||||
Beginning balance | 8,836 | 11,485 | 9,562 | 11,613 | ||
Provision for loan losses | (20,667) | 855 | (5,568) | (6,413) | ||
Recoveries | 22,208 | 3,212 | 25,532 | 10,853 | ||
Allowance for loan losses before charge offs | 10,377 | 15,552 | 29,526 | 16,053 | ||
Loans charged off | 0 | (5,785) | (19,149) | (6,286) | ||
Ending Balance | 10,377 | 9,767 | 10,377 | 9,767 | ||
Amount allocated to: | ||||||
Ending balance | 10,377 | 9,767 | 10,377 | 9,767 | ||
Legacy [Member] | ||||||
Amount allocated to: | ||||||
Individually evaluated for impairment | 349,299 | 1,226,793 | 349,299 | 1,226,793 | ||
Other loans not individually evaluated | 5,457,954 | 4,476,064 | 5,457,954 | 4,476,064 | ||
Ending balance | [1] | 5,807,254 | 5,807,254 | 6,084,478 | ||
Legacy [Member] | Commercial Portfolio Segment [Member] | ||||||
Amount allocated to: | ||||||
Individually evaluated for impairment | 300,234 | 550,046 | 300,234 | 550,046 | ||
Other loans not individually evaluated | 993,496 | 592,806 | 993,496 | 592,806 | ||
Legacy [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||||
Amount allocated to: | ||||||
Individually evaluated for impairment | 28,803 | 676,747 | 28,803 | 676,747 | ||
Other loans not individually evaluated | 3,760,620 | 3,262,485 | 3,760,620 | 3,262,485 | ||
Legacy [Member] | Real Estate Portfolio Segment [Member] | ||||||
Amount allocated to: | ||||||
Individually evaluated for impairment | 20,262 | 0 | 20,262 | 0 | ||
Other loans not individually evaluated | 693,461 | 611,006 | 693,461 | 611,006 | ||
Legacy [Member] | Consumer Portfolio Segment [Member] | ||||||
Amount allocated to: | ||||||
Individually evaluated for impairment | 0 | 0 | 0 | 0 | ||
Other loans not individually evaluated | 10,377 | 9,767 | 10,377 | 9,767 | ||
Acquired [Member] | ||||||
Amount allocated to: | ||||||
Individually evaluated for impairment | 104,589 | 316,066 | 104,589 | 316,066 | ||
Ending balance | 104,588 | 104,588 | $ 110,991 | |||
Acquired [Member] | Commercial Portfolio Segment [Member] | ||||||
Amount allocated to: | ||||||
Individually evaluated for impairment | 24,517 | 0 | 24,517 | 0 | ||
Acquired [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||||
Amount allocated to: | ||||||
Individually evaluated for impairment | 0 | 0 | 0 | 0 | ||
Acquired [Member] | Real Estate Portfolio Segment [Member] | ||||||
Amount allocated to: | ||||||
Individually evaluated for impairment | 80,072 | 316,066 | 80,072 | 316,066 | ||
Acquired [Member] | Consumer Portfolio Segment [Member] | ||||||
Amount allocated to: | ||||||
Individually evaluated for impairment | $ 0 | $ 0 | $ 0 | $ 0 | ||
[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, and Regal Bancorp, Inc. ("Regal"), the parent company of Regal Bank & Trust ("Regal Bank"), in December 2015, we have segmented the portfolio into two components, "Legacy" loans originated by Old Line Bank and "Acquired" loans acquired from MB&T, WSB and Regal Bank. |
Loans - (Details 7)
Loans - (Details 7) - USD ($) | Jun. 30, 2017 | Dec. 31, 2016 | Jun. 30, 2016 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Account balance | $ 1,450,805,817 | $ 1,366,113,264 | $ 1,246,829,902 | |
Commercial Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Account balance | 154,767,405 | 120,782,226 | ||
Commercial Real Estate Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Account balance | 1,013,530,210 | 848,770,539 | ||
Real Estate Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Account balance | 278,014,464 | 271,718,902 | ||
Consumer Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Account balance | 4,493,738 | 5,008,875 | 5,558,235 | |
Legacy [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Individually evaluated for impairment with specific reserve | 1,094,270 | 4,505,063 | ||
Individually evaluated for impairment without specific reserve | 3,678,432 | 2,700,176 | ||
Other loans not individually evaluated | 1,281,046,798 | 1,020,373,724 | ||
Account balance | [1] | 1,285,819,500 | 1,177,232,361 | |
Legacy [Member] | Commercial Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Individually evaluated for impairment with specific reserve | 300,234 | 1,009,512 | ||
Individually evaluated for impairment without specific reserve | 405,368 | 885,570 | ||
Other loans not individually evaluated | 149,238,270 | 110,924,558 | ||
Legacy [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Individually evaluated for impairment with specific reserve | 601,535 | 3,495,551 | ||
Individually evaluated for impairment without specific reserve | 3,009,569 | 1,814,606 | ||
Other loans not individually evaluated | 918,871,531 | 718,453,673 | ||
Legacy [Member] | Real Estate Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Individually evaluated for impairment with specific reserve | 192,501 | 0 | ||
Individually evaluated for impairment without specific reserve | 263,495 | 0 | ||
Other loans not individually evaluated | 208,531,955 | 185,608,582 | ||
Legacy [Member] | Consumer Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Individually evaluated for impairment with specific reserve | 0 | 0 | ||
Individually evaluated for impairment without specific reserve | 0 | 0 | ||
Other loans not individually evaluated | 4,405,042 | 5,386,911 | ||
Account balance | [1] | 4,405,042 | 4,868,909 | |
Acquired [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Individually evaluated for impairment with specific reserve subsequent to acquisition (ASC 310-20 at acquisition) | 224,627 | 377,212 | ||
Individually evaluated for impairment without specific reserve (ASC 310-20 at acquisition) | 1,838,667 | 3,523,273 | ||
Individually evaluated for impairment without specific reserve (ASC 310-30 at acquisition) | 6,643,878 | 10,099,810 | ||
Collectively evaluated for impairment without reserve (ASC 310-20 at acquisition) | 156,279,145 | 205,250,644 | ||
Account balance | 164,986,317 | 188,880,903 | ||
Acquired [Member] | Commercial Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Individually evaluated for impairment with specific reserve subsequent to acquisition (ASC 310-20 at acquisition) | 74,197 | 0 | ||
Individually evaluated for impairment without specific reserve (ASC 310-20 at acquisition) | 0 | 952,002 | ||
Individually evaluated for impairment without specific reserve (ASC 310-30 at acquisition) | 0 | 0 | ||
Collectively evaluated for impairment without reserve (ASC 310-20 at acquisition) | 4,749,336 | 7,010,584 | ||
Acquired [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Individually evaluated for impairment with specific reserve subsequent to acquisition (ASC 310-20 at acquisition) | 150,430 | 0 | ||
Individually evaluated for impairment without specific reserve (ASC 310-20 at acquisition) | 252,687 | 616,862 | ||
Individually evaluated for impairment without specific reserve (ASC 310-30 at acquisition) | 3,515,652 | 5,789,245 | ||
Collectively evaluated for impairment without reserve (ASC 310-20 at acquisition) | 87,128,806 | 118,600,602 | ||
Acquired [Member] | Real Estate Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Individually evaluated for impairment with specific reserve subsequent to acquisition (ASC 310-20 at acquisition) | 0 | 377,212 | ||
Individually evaluated for impairment without specific reserve (ASC 310-20 at acquisition) | 1,585,980 | 1,954,409 | ||
Individually evaluated for impairment without specific reserve (ASC 310-30 at acquisition) | 3,128,226 | 4,310,565 | ||
Collectively evaluated for impairment without reserve (ASC 310-20 at acquisition) | 64,312,307 | 79,468,134 | ||
Acquired [Member] | Consumer Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Individually evaluated for impairment with specific reserve subsequent to acquisition (ASC 310-20 at acquisition) | 0 | 0 | ||
Individually evaluated for impairment without specific reserve (ASC 310-20 at acquisition) | 0 | 0 | ||
Individually evaluated for impairment without specific reserve (ASC 310-30 at acquisition) | 0 | 0 | ||
Collectively evaluated for impairment without reserve (ASC 310-20 at acquisition) | 88,696 | $ 171,324 | ||
Account balance | $ 88,696 | $ 139,966 | ||
[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, and Regal Bancorp, Inc. ("Regal"), the parent company of Regal Bank & Trust ("Regal Bank"), in December 2015, we have segmented the portfolio into two components, "Legacy" loans originated by Old Line Bank and "Acquired" loans acquired from MB&T, WSB and Regal Bank. |
Other Real Estate Owned (Detail
Other Real Estate Owned (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Other Real Estate and Foreclosed Assets [Line Items] | ||||
Beginning balance | $ 2,746,000 | |||
Real estate acquired through foreclosure of loans | 422,848 | $ 261,700 | ||
Sales/deposit on sales | (290,644) | |||
Net realized gain on sale of real estate owned | $ 0 | $ 48,099 | 17,689 | $ 52,307 |
Total end of period | 2,895,893 | 2,895,893 | ||
Legacy [Member] | ||||
Other Real Estate and Foreclosed Assets [Line Items] | ||||
Beginning balance | 425,000 | |||
Real estate acquired through foreclosure of loans | 321,600 | |||
Sales/deposit on sales | 0 | |||
Net realized gain on sale of real estate owned | 0 | |||
Total end of period | 746,600 | 746,600 | ||
Acquired [Member] | ||||
Other Real Estate and Foreclosed Assets [Line Items] | ||||
Beginning balance | 2,321,000 | |||
Real estate acquired through foreclosure of loans | 101,248 | |||
Sales/deposit on sales | (290,644) | |||
Net realized gain on sale of real estate owned | 17,689 | |||
Total end of period | $ 2,149,293 | $ 2,149,293 |
Earnings Per Common Share (Deta
Earnings Per Common Share (Details) - shares | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Earnings Per Share [Abstract] | ||||
Weighted average number of shares | 10,951,464 | 10,816,429 | 10,938,892 | 10,812,314 |
Dilutive average number of shares | 11,165,814 | 10,989,854 | 11,152,901 | 10,980,534 |
Stock Based Compensation (Detai
Stock Based Compensation (Details Narrative) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||||
Stock-based compensation expense | $ 146,918 | $ 147,649 | $ 262,031 | $ 262,080 |
Unrecognized compensation cost related to non-vested stock options | $ 1,300,000 | $ 1,300,000 | ||
Period over which unrecognized compensation cost is expected to be realized | 2 years 6 months | |||
Shares available for future issuance | 307,746 | 307,746 | ||
Options exercised by directors and officers (in shares) | 14,300 | 0 | ||
Options granted (in shares) | 0 | 58,927 | ||
Options granted (in dollars per share) | $ 5.38 | |||
Restricted stock granted (in shares) | 24,415 | 13,869 | ||
Restricted stock granted (in dollars per share) | $ 28.63 | $ 28.63 | ||
Restricted stock forfeited (in shares) | 0 | 0 |
Fair Value Measurement (Details
Fair Value Measurement (Details) - USD ($) | Jun. 30, 2017 | Dec. 31, 2016 |
Available-for-sale: | ||
Treasury securities | $ 3,013,000 | $ 2,996,000 |
U.S. government agency | 18,345,000 | 7,266,000 |
Corporate bonds | 9,243,000 | 8,172,000 |
Municipal securities | 66,474,000 | 67,687,000 |
FHLMC MBS | 20,957,000 | 21,800,000 |
FNMA MBS | 66,916,000 | 70,449,000 |
GNMA MBS | 13,424,000 | 21,135,000 |
Investment securities available for sale | 198,372,453 | 199,505,204 |
Fair Value Inputs Level1 [Member] | ||
Available-for-sale: | ||
Treasury securities | 3,013,000 | 2,996,000 |
U.S. government agency | 0 | 0 |
Corporate bonds | 0 | 0 |
Municipal securities | 0 | 0 |
FHLMC MBS | 0 | 0 |
FNMA MBS | 0 | 0 |
GNMA MBS | 0 | 0 |
Investment securities available for sale | 3,013,000 | 2,996,000 |
Fair Value Inputs Level2 [Member] | ||
Available-for-sale: | ||
Treasury securities | 0 | 0 |
U.S. government agency | 18,345,000 | 7,266,000 |
Corporate bonds | 0 | 0 |
Municipal securities | 66,474,000 | 67,687,000 |
FHLMC MBS | 20,957,000 | 21,800,000 |
FNMA MBS | 66,916,000 | 70,449,000 |
GNMA MBS | 13,424,000 | 21,135,000 |
Investment securities available for sale | 186,116,000 | 188,337,000 |
Fair Value Inputs Level3 [Member] | ||
Available-for-sale: | ||
Treasury securities | 0 | 0 |
U.S. government agency | 0 | 0 |
Corporate bonds | 9,243,000 | 8,172,000 |
Municipal securities | 0 | 0 |
FHLMC MBS | 0 | 0 |
FNMA MBS | 0 | 0 |
GNMA MBS | 0 | 0 |
Investment securities available for sale | $ 9,243,000 | $ 8,172,000 |
Fair Value Measurement (Detai45
Fair Value Measurement (Details 1) - Fair Value Inputs Level3 [Member] $ in Thousands | 6 Months Ended |
Jun. 30, 2017USD ($) | |
Balance begining | $ 8,172 |
Included in earnings | 0 |
Included in other comprehensive income | 71 |
Purchases, issuances, sales and settlements | 1,000 |
Transfers into or out of level 3 | 0 |
Balance ending | $ 9,243 |
Fair Value Measurement (Detai46
Fair Value Measurement (Details 2) - USD ($) | Jun. 30, 2017 | Dec. 31, 2016 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired Loans | $ 6,835,996 | $ 9,456,664 |
Fair Value Measurements Nonrecurring [Member] | Carrying Reported Amount Fair Value Disclosure [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired Loans | 6,382,000 | 8,064,000 |
Other real estate owned | 2,896,000 | 2,746,000 |
Assets | 9,278,000 | 10,810,000 |
Fair Value Inputs Level3 [Member] | Fair Value Measurements Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired Loans | 6,382,000 | 8,064,000 |
Other real estate owned | 2,896,000 | 2,746,000 |
Assets | 9,278,000 | 10,810,000 |
Legacy [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired Loans | 4,772,702 | 8,257,935,000 |
Legacy [Member] | Fair Value Measurements Nonrecurring [Member] | Carrying Reported Amount Fair Value Disclosure [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired Loans | 4,423,000 | 6,976,000 |
Other real estate owned | 747,000 | 425,000 |
Legacy [Member] | Fair Value Inputs Level3 [Member] | Fair Value Measurements Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired Loans | 4,423,000 | 6,976,000 |
Other real estate owned | 747,000 | 425,000 |
Acquired [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired Loans | 2,063,294 | 1,198,729,000 |
Acquired [Member] | Fair Value Measurements Nonrecurring [Member] | Carrying Reported Amount Fair Value Disclosure [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired Loans | 1,959,000 | 1,088,000 |
Other real estate owned | 2,149,000 | 2,321,000 |
Acquired [Member] | Fair Value Inputs Level3 [Member] | Fair Value Measurements Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired Loans | 1,959,000 | 1,088,000 |
Other real estate owned | $ 2,149,000 | $ 2,321,000 |
Fair Value Measurement (Detai47
Fair Value Measurement (Details 3) - USD ($) | Jun. 30, 2017 | Dec. 31, 2016 |
Assets: | ||
Loans held-for-sale | $ 6,857,924 | $ 8,707,516 |
Investment securities available for sale | 198,372,453 | 199,505,204 |
Bank Owned Life Insurance | 38,025,982 | 37,557,566 |
Accrued interest receivable | 4,144,803 | 4,278,229 |
Liabilities: | ||
Non-interest bearing | 366,468,569 | 331,331,263 |
Interest bearing | 1,012,960,448 | 994,549,269 |
Accrued interest payable | 1,340,591 | 1,269,356 |
Fair Value Inputs Level1 [Member] | ||
Assets: | ||
Cash and cash equivalents | 26,465,000 | 23,463,000 |
Loans receivable, net | 0 | 0 |
Loans held-for-sale | 0 | 0 |
Investment securities available for sale | 3,013,000 | 2,996,000 |
Equity securities at cost | 0 | 0 |
Bank Owned Life Insurance | 0 | 0 |
Accrued interest receivable | 0 | 0 |
Liabilities: | ||
Non-interest bearing | 0 | 0 |
Interest bearing | 0 | 0 |
Short term borrowings | 0 | 0 |
Long term borrowings | 0 | 0 |
Accrued interest payable | 0 | 0 |
Fair Value Inputs Level2 [Member] | ||
Assets: | ||
Cash and cash equivalents | 0 | 0 |
Loans receivable, net | 0 | 0 |
Loans held-for-sale | 6,858,000 | 8,707,000 |
Investment securities available for sale | 186,116,000 | 188,337,000 |
Equity securities at cost | 9,973,000 | 8,303,000 |
Bank Owned Life Insurance | 38,026,000 | 37,558,000 |
Accrued interest receivable | 936,000 | 991,000 |
Liabilities: | ||
Non-interest bearing | 366,469,000 | 331,331,000 |
Interest bearing | 1,016,434,000 | 998,489,000 |
Short term borrowings | 203,781,000 | 183,434,000 |
Long term borrowings | 37,974,000 | 37,843,000 |
Accrued interest payable | 1,341,000 | 1,269,000 |
Fair Value Inputs Level3 [Member] | ||
Assets: | ||
Cash and cash equivalents | 0 | 0 |
Loans receivable, net | 1,443,615,000 | 1,364,361,000 |
Loans held-for-sale | 0 | 0 |
Investment securities available for sale | 9,243,000 | 8,172,000 |
Equity securities at cost | 0 | 0 |
Bank Owned Life Insurance | 0 | 0 |
Accrued interest receivable | 3,209,000 | 3,287,000 |
Liabilities: | ||
Non-interest bearing | 0 | 0 |
Interest bearing | 0 | 0 |
Short term borrowings | 0 | 0 |
Long term borrowings | 0 | 0 |
Accrued interest payable | 0 | 0 |
Carrying Reported Amount Fair Value Disclosure [Member] | ||
Assets: | ||
Cash and cash equivalents | 26,465,000 | 23,463,000 |
Loans receivable, net | 1,446,573,000 | 1,361,175,000 |
Loans held-for-sale | 6,615,000 | 8,418,000 |
Investment securities available for sale | 198,372,000 | 199,505,000 |
Equity securities at cost | 9,973,000 | 8,303,000 |
Bank Owned Life Insurance | 38,026,000 | 37,558,000 |
Accrued interest receivable | 4,145,000 | 4,278,000 |
Liabilities: | ||
Non-interest bearing | 366,469,000 | 331,331,000 |
Interest bearing | 1,012,960,000 | 994,549,000 |
Short term borrowings | 203,781,000 | 183,434,000 |
Long term borrowings | 37,974,000 | 37,843,000 |
Accrued interest payable | 1,341,000 | 1,269,000 |
Total Estimated Fair Value [Member] | ||
Assets: | ||
Cash and cash equivalents | 26,465,000 | 23,463,000 |
Loans receivable, net | 1,443,615,000 | 1,364,361,000 |
Loans held-for-sale | 6,858,000 | 8,707,000 |
Investment securities available for sale | 198,372,000 | 199,505,000 |
Equity securities at cost | 9,973,000 | 8,303,000 |
Bank Owned Life Insurance | 38,026,000 | 37,558,000 |
Accrued interest receivable | 4,145,000 | 4,278,000 |
Liabilities: | ||
Non-interest bearing | 366,469,000 | 331,331,000 |
Interest bearing | 1,016,434,000 | 998,489,000 |
Short term borrowings | 203,781,000 | 183,434,000 |
Long term borrowings | 37,974,000 | 37,843,000 |
Accrued interest payable | $ 1,341,000 | $ 1,269,000 |
Short Term Borrowings (Details
Short Term Borrowings (Details Narrative) | Jun. 30, 2017USD ($) |
Securities Sold Under Agreements To Repurchase [Member] | |
Short-term Debt [Line Items] | |
Value of collateral provided | $ 39,000,000 |
Long Term Borrowings (Details N
Long Term Borrowings (Details Narrative) - USD ($) | 6 Months Ended | |
Jun. 30, 2017 | Dec. 31, 2016 | |
Debt Instrument [Line Items] | ||
Long-term Debt | $ 37,974,308 | $ 37,842,567 |
Trust One Maturing On March 17 2034 [Member] | ||
Debt Instrument [Line Items] | ||
Notes, fair value | 4,000,000 | |
Fair value adjustment | 1,500,000 | |
Trust Two Maturing December 14 2035 [Member] | ||
Debt Instrument [Line Items] | ||
Notes, fair value | 2,500,000 | |
Fair value adjustment | 1,200,000 | |
Subordinated Debt [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Debt | $ 35,000,000 | |
Interest rate (as a percent) | 5.625% | |
Notes, fair value | $ 34,000,000 | |
Regal Acquisition [Member] | ||
Debt Instrument [Line Items] | ||
Notes, fair value | 4,000,000 | |
Fair value adjustment | $ 2,700,000 |