Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2015 | Oct. 31, 2015 | |
Document Information [Line Items] | ||
Entity Registrant Name | PORTER BANCORP, INC. | |
Trading Symbol | pbib | |
Document Type | 10-Q | |
Current Fiscal Year End Date | --12-31 | |
Amendment Flag | false | |
Entity Central Index Key | 1,358,356 | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Filer Category | Smaller Reporting Company | |
Entity Well-known Seasoned Issuer | No | |
Document Period End Date | Sep. 30, 2015 | |
Document Fiscal Year Focus | 2,015 | |
Document Fiscal Period Focus | Q3 | |
Common Stock [Member] | ||
Document Information [Line Items] | ||
Entity Common Stock, Shares Outstanding | 20,091,205 | |
Nonvoting Common Stock [Member] | ||
Document Information [Line Items] | ||
Entity Common Stock, Shares Outstanding | 6,858,000 |
Unaudited Consolidated Balance
Unaudited Consolidated Balance Sheets - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Assets | ||
Cash and due from banks | $ 6,540 | $ 14,169 |
Interest bearing deposits in banks | 73,940 | 66,011 |
Cash and cash equivalents | 80,480 | 80,180 |
Securities available for sale | 146,837 | 190,791 |
Securities held to maturity (fair value of $44,244 and $44,498, respectively) | 42,138 | 42,325 |
Loans held for sale | 71 | 8,926 |
Loans, net of allowance of $14,198 and $19,364, respectively | 610,216 | 605,635 |
Premises and equipment, net | 19,109 | 19,507 |
Other real estate owned | 29,177 | 46,197 |
Federal Home Loan Bank stock | 7,323 | 7,323 |
Bank owned life insurance | 9,381 | 9,167 |
Accrued interest receivable and other assets | 6,748 | 7,938 |
Total assets | 951,480 | 1,017,989 |
Deposits | ||
Non-interest bearing | 106,160 | 114,910 |
Interest bearing | 771,733 | 811,931 |
Total deposits | 877,893 | 926,841 |
Repurchase agreements | 1,341 | |
Federal Home Loan Bank advances | 3,255 | 15,752 |
Accrued interest payable and other liabilities | 11,249 | 10,640 |
Subordinated capital note | 4,275 | 4,950 |
Junior subordinated debentures | 21,000 | 25,000 |
Total liabilities | 917,672 | 984,524 |
Preferred stock, no par | ||
Preferred stock | 2,771 | 8,552 |
Common stock, no par, 86,000,000 shares authorized, 20,091,205 and 14,890,514 voting, and 6,858,000 and 0 non-voting shares issued and outstanding, respectively | 120,699 | 113,238 |
Additional paid-in capital | 23,522 | 21,442 |
Retained deficit | (110,207) | (107,595) |
Accumulated other comprehensive loss | (2,977) | (2,172) |
Total common stockholders’ equity | 31,037 | 24,913 |
Total stockholders' equity | 33,808 | 33,465 |
Total liabilities and stockholders’ equity | 951,480 | 1,017,989 |
Series B Preferred Stock [Member] | ||
Preferred stock, no par | ||
Preferred stock | 2,229 | |
Series D Preferred Stock [Member] | ||
Preferred stock, no par | ||
Preferred stock | 3,552 | |
Series E Preferred Stock [Member] | ||
Preferred stock, no par | ||
Preferred stock | 1,644 | 1,644 |
Series F Preferred Stock [Member] | ||
Preferred stock, no par | ||
Preferred stock | $ 1,127 | $ 1,127 |
Unaudited Consolidated Balance3
Unaudited Consolidated Balance Sheets (Parentheticals) - USD ($) | Sep. 30, 2015 | Dec. 31, 2014 |
Securities held to maturity, fair value (in Dollars) | $ 44,244,000 | $ 44,498,000 |
Loans, allowance (in Dollars) | $ 14,198,000 | $ 19,364,000 |
Common stock, par value (in Dollars per share) | $ 0 | $ 0 |
Common stock, shares authorized | 86,000,000 | 86,000,000 |
Series B Preferred Stock [Member] | ||
Preferred stock, issued | 0 | 40,536 |
Preferred stock, outstanding | 0 | 40,536 |
Series D Preferred Stock [Member] | ||
Preferred stock, issued | 0 | 64,580 |
Preferred stock, outstanding | 0 | 64,580 |
Series E Preferred Stock [Member] | ||
Preferred stock, issued | 6,198 | 6,198 |
Preferred stock, outstanding | 6,198 | 6,198 |
Preferred stock, liquidation preference (in Dollars) | $ 6,200 | $ 6,200 |
Series F Preferred Stock [Member] | ||
Preferred stock, issued | 4,304 | 4,304 |
Preferred stock, outstanding | 4,304 | 4,304 |
Preferred stock, liquidation preference (in Dollars) | $ 4,300 | $ 4,300 |
Voting Common Stock [Member] | ||
Common stock, shares issued | 20,091,205 | 14,890,514 |
Common stock, shares outstanding | 20,091,205 | 14,890,514 |
Nonvoting Common Stock [Member] | ||
Common stock, shares issued | 6,858,000 | 0 |
Common stock, shares outstanding | 6,858,000 | 0 |
Unaudited Consolidated Statemen
Unaudited Consolidated Statements of Operations - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Interest income | ||||
Loans, including fees | $ 7,895,000 | $ 8,201,000 | $ 23,496,000 | $ 25,094,000 |
Taxable securities | 986,000 | 1,265,000 | 3,122,000 | 3,653,000 |
Tax exempt securities | 187,000 | 231,000 | 580,000 | 707,000 |
Fed funds sold and other | 111,000 | 117,000 | 351,000 | 423,000 |
9,179,000 | 9,814,000 | 27,549,000 | 29,877,000 | |
Interest expense | ||||
Deposits | 1,476,000 | 2,245,000 | 4,775,000 | 6,925,000 |
Federal Home Loan Bank advances | 23,000 | 31,000 | 74,000 | 96,000 |
Subordinated capital note | 40,000 | 47,000 | 123,000 | 144,000 |
Junior subordinated debentures | 158,000 | 153,000 | 465,000 | 458,000 |
Federal funds purchased and other | 1,000 | 1,000 | 3,000 | |
1,697,000 | 2,477,000 | 5,438,000 | 7,626,000 | |
Net interest income | 7,482,000 | 7,337,000 | 22,111,000 | 22,251,000 |
Provision (negative provision) for loan losses | (2,200,000) | (2,200,000) | 6,300,000 | |
Net interest income after provision (negative provision) for loan losses | 9,682,000 | 7,337,000 | 24,311,000 | 15,951,000 |
Non-interest income | ||||
Service charges on deposit accounts | 492,000 | 535,000 | 1,376,000 | 1,490,000 |
Bank card interchange fees | 212,000 | 209,000 | 644,000 | 575,000 |
Other real estate owned rental income | 380,000 | 5,000 | 1,109,000 | 30,000 |
Net gain on sales of securities | 46,000 | 1,696,000 | 92,000 | |
Gain on extinguishment of junior subordinated debt | 883,000 | 883,000 | ||
Other | 243,000 | 262,000 | 763,000 | 734,000 |
2,210,000 | 1,057,000 | 6,471,000 | 2,921,000 | |
Non-interest expense | ||||
Salaries and employee benefits | 3,920,000 | 4,041,000 | 11,795,000 | 11,731,000 |
Occupancy and equipment | 815,000 | 857,000 | 2,513,000 | 2,645,000 |
Professional fees | 620,000 | 361,000 | 2,313,000 | 1,134,000 |
FDIC Insurance | 539,000 | 571,000 | 1,673,000 | 1,682,000 |
Data processing expense | 278,000 | 269,000 | 860,000 | 818,000 |
State franchise and deposit tax | 285,000 | 405,000 | 855,000 | 1,235,000 |
Other real estate owned expense | 5,131,000 | 560,000 | 8,796,000 | 1,996,000 |
Loan collection expense | 321,000 | 858,000 | 895,000 | 2,646,000 |
Other | 1,059,000 | 1,359,000 | 3,694,000 | 3,700,000 |
12,968,000 | 9,281,000 | 33,394,000 | 27,587,000 | |
Loss before income taxes | (1,076,000) | (887,000) | (2,612,000) | (8,715,000) |
Income tax benefit | (38,000) | 0 | (1,345,000) | |
Net loss | (1,076,000) | (849,000) | (2,612,000) | (7,370,000) |
Less: | ||||
Dividends on preferred stock | 786,000 | 2,361,000 | ||
Loss allocated to participating securities | (45,000) | (162,000) | (338,000) | (928,000) |
Net loss attributable to common shareholders | $ (1,031,000) | $ (1,473,000) | $ (2,274,000) | $ (8,803,000) |
Basic and diluted loss per common share (in Dollars per share) | $ (0.04) | $ (0.12) | $ (0.10) | $ (0.73) |
Unaudited Consolidated Stateme5
Unaudited Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Net loss | $ (1,076) | $ (849) | $ (2,612) | $ (7,370) |
Unrealized gain (loss) on securities: | ||||
Unrealized gain arising during the period | 1,227 | 155 | 794 | 3,936 |
Amortization during the period of net unrealized loss transferred to held to maturity | 33 | 82 | 97 | 149 |
Reclassification adjustment for gains included in net income | (46) | (1,696) | (92) | |
Net unrealized gain (loss) recognized in comprehensive income | 1,260 | 191 | (805) | 3,993 |
Tax effect | (38) | (1,345) | ||
Other comprehensive income (loss) | 1,260 | 153 | (805) | 2,648 |
Comprehensive income (loss) | $ 184 | $ (696) | $ (3,417) | $ (4,722) |
Unaudited Consolidated Stateme6
Unaudited Consolidated Statements of Changes in Stockholders’ Equity - 9 months ended Sep. 30, 2015 - USD ($) $ in Thousands | Voting Common Stock [Member]Common Stock [Member] | Nonvoting Common Stock [Member]Common Stock [Member] | Series B Preferred Stock [Member]Preferred Stock [Member] | Series D Preferred Stock [Member]Preferred Stock [Member] | Series E Preferred Stock [Member]Preferred Stock [Member] | Series F Preferred Stock [Member]Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balance at Dec. 31, 2014 | $ 2,229 | $ 3,552 | $ 1,644 | $ 1,127 | $ 113,238 | $ 21,442 | $ (107,595) | $ (2,172) | $ 33,465 | ||
Balance (in Shares) at Dec. 31, 2014 | 14,890,514 | 40,536 | 64,580 | 6,198 | 4,304 | 14,890,514 | |||||
Issuance of unvested stock (in Shares) | 915,740 | 915,740 | |||||||||
Terminated stock (in Shares) | (538,479) | (538,479) | |||||||||
Forfeited unvested stock (in Shares) | (30,170) | (30,170) | |||||||||
Stock-based compensation expense | 313 | 313 | |||||||||
Net loss | (2,612) | (2,612) | |||||||||
Net change in accumulated other comprehensive loss, net of taxes | (805) | (805) | |||||||||
Conversion of preferred stock to common and non-voting common stock | $ (2,229) | $ (3,552) | $ 5,781 | ||||||||
Conversion of preferred stock to common and non-voting common stock (in Shares) | 4,053,600 | 6,458,000 | (40,536) | (64,580) | 10,511,600 | ||||||
Debt to equity exchange | $ 1,680 | 1,767 | 3,447 | ||||||||
Debt to equity exchange (in Shares) | 800,000 | 400,000 | 1,200,000 | ||||||||
Balance at Sep. 30, 2015 | $ 1,644 | $ 1,127 | $ 120,699 | $ 23,522 | $ (110,207) | $ (2,977) | $ 33,808 | ||||
Balance (in Shares) at Sep. 30, 2015 | 20,091,205 | 6,858,000 | 6,198 | 4,304 | 26,949,205 |
Unaudited Consolidated Stateme7
Unaudited Consolidated Statements of Cash Flows - USD ($) | 9 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Cash flows from operating activities | ||
Net loss | $ (2,612,000) | $ (7,370,000) |
Adjustments to reconcile net loss to net cash from operating activities | ||
Depreciation and amortization | 1,201,000 | 1,329,000 |
Provision (negative provision) for loan losses | (2,200,000) | 6,300,000 |
Net amortization on securities | 1,084,000 | 1,219,000 |
Stock-based compensation expense | 313,000 | 480,000 |
Gain on extinguishment of junior subordinated debt | (883,000) | |
Tax benefit from OCI components | 0 | (1,345,000) |
Net loss (gain) on sales of loans held for sale | 216,000 | (52,000) |
Loans originated for sale | (5,290,000) | (2,265,000) |
Proceeds from sales of loans held for sale | 5,289,000 | 2,466,000 |
Net (gain) loss on sales of other real estate owned | (27,000) | (455,000) |
Net write-down of other real estate owned | 7,080,000 | 1,250,000 |
Net realized gain on sales of investment securities | (1,696,000) | (92,000) |
Earnings on bank owned life insurance, net of premium expense | (214,000) | (192,000) |
Net change in accrued interest receivable and other assets | 893,000 | (132,000) |
Net change in accrued interest payable and other liabilities | 939,000 | 1,888,000 |
Net cash from operating activities | 4,093,000 | 3,029,000 |
Cash flows from investing activities | ||
Purchases of available for sale securities | (16,800,000) | (41,156,000) |
Sales and calls of available for sale securities | 44,340,000 | 4,151,000 |
Maturities and prepayments of available for sale securities | 16,408,000 | 11,295,000 |
Proceeds from mandatory redemption of Federal Home Loan Bank stock | 2,749,000 | |
Calls of held to maturity securities | 1,000,000 | |
Proceeds from sale of other real estate owned | 14,417,000 | 7,253,000 |
Proceeds from sales of loans not originated for sale | 8,640,000 | |
Loan originations and payments, net | (7,029,000) | 28,844,000 |
Purchases of premises and equipment, net | (308,000) | (416,000) |
Net cash from investing activities | 59,668,000 | 13,720,000 |
Cash flows from financing activities | ||
Net change in deposits | (48,948,000) | (54,173,000) |
Net change in repurchase agreements | (1,341,000) | (653,000) |
Repayment of Federal Home Loan Bank advances | (17,497,000) | (10,577,000) |
Advances from Federal Home Loan Bank | 5,000,000 | 23,025,000 |
Repayment of subordinated capital note | (675,000) | (675,000) |
Net cash from financing activities | (63,461,000) | (43,053,000) |
Net change in cash and cash equivalents | 300,000 | (26,304,000) |
Beginning cash and cash equivalents | 80,180,000 | 111,134,000 |
Ending cash and cash equivalents | 80,480,000 | 84,830,000 |
Supplemental cash flow information: | ||
Interest paid | 5,523,000 | 7,241,000 |
Income taxes paid (refunded) | 0 | 0 |
Supplemental non-cash disclosure: | ||
Transfer from loans to other real estate | 4,450,000 | $ 31,663,000 |
Effect of junior subordinated debt to equity exchange | $ 4,330,000 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation and Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2015 | |
Disclosure Text Block [Abstract] | |
Basis of Presentation and Significant Accounting Policies [Text Block] | Note 1 – Basis of Presentation and Summary of Significant Accounting Policies Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, the financial statements do not include all of the information and footnotes required by U.S. generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the nine months ended September 30, 2015 are not necessarily indicative of the results that may be expected for the entire year. A description of other significant accounting policies is presented in the notes to the Consolidated Financial Statements for the year ended December 31, 2014 included in the Company’s Annual Report on Form 10-K. Use of Estimates Reclassifications |
Note 2 - Going Concern Consider
Note 2 - Going Concern Considerations and Future Plans | 9 Months Ended |
Sep. 30, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Substantial Doubt about Going Concern [Text Block] | Note 2 – Going Concern Considerations and Future Plans The consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business for the foreseeable future. However, the events and circumstances described in this Note create substantial doubt about the Company’s ability to continue as a going concern. During the three and nine months ended September 30, 2015, we reported net loss attributable to common shareholders of $1.0 million and $2.3 million, respectively, compared with net loss attributable to common shareholders of $1.5 million and $8.8 million for the three and nine months ended September 30, 2014, respectively. The improvement for 2015 is primarily attributable to a negative provision for loan losses of $2.2 million in the third quarter of 2015, compared to $6.3 million of provision expense recorded in the second quarter of 2014. The $2.2 million negative provision in the third quarter was primarily driven by declining historical loss rates, improvement in asset quality, and management’s assessment of risk in the portfolio. Substandard loans decreased by $21.5 million or 31.2% over the past quarter and $44.0 million or 48% over the first nine months of 2015. Net charge-offs were $3.0 million for the first nine months of 2015 compared to $10.2 million for the first nine months of 2014, and $411,000 for the third quarter of 2015 compared to $1.8 million in the second quarter of 2015. Nonaccrual loans decreased by $13.2 million or 43.8% over the past quarter, and $30.2 million or 64.0% over the first nine months of 2015. At September 30, 2015, we continued to be involved in various legal proceedings in which we dispute the material factual allegations against us. After conferring with our legal advisors, we believe we have meritorious grounds on which to prevail. If we do not prevail, the ultimate outcome of any one of these matters could have a material adverse effect on our financial condition, results of operations, or cash flows. These matters are more fully described in Note 13 – “Contingencies”. For the year ended December 31, 2014, we reported a net loss of $11.2 million. This loss was attributable primarily to loan loss provision of $7.1 million, OREO expense of $5.8 million resulting from fair value write-downs driven by new appraisals and reduced marketing prices, and ongoing operating expense, along with $3.0 million in loan collection expenses. We also had lower net interest margin due to lower average loans outstanding, loans re-pricing at lower rates, and the level of non-performing loans in our portfolio. After deductions for dividends and accretion on preferred stock of $2.4 million, allocating losses to participating securities of $3.2 million, and the effect of the exchange of preferred stock for common stock of $36.1 million, net income attributable to common shareholders was $19.4 million for the year ended December 31, 2014, compared with a net loss attributable to common shareholders of $3.4 million for the year ended December 31, 2013. In June 2011, the Bank agreed to a Consent Order with the FDIC and KDFI in which the Bank agreed, among other things, to improve asset quality, reduce loan concentrations, and maintain a minimum Tier 1 leverage ratio of 9% and a minimum total risk based capital ratio of 12%. In October 2012, the Bank entered into a revised Consent Order with the FDIC and KDFI again agreeing to maintain a minimum Tier 1 leverage ratio of 9% and a minimum total risk based capital ratio of 12%. The Bank also agreed that if it should be unable to reach the required capital levels, and if directed in writing by the FDIC, then the Bank would within 30 days develop, adopt and implement a written plan to sell or merge itself into another federally insured financial institution or otherwise immediately obtain a sufficient capital investment into the Bank to fully meet the capital requirements. In October 2015, the Bank agreed to enter into a new revised Consent Order, which includes several of the substantive provisions of the June 2011 and October 2012 Consent Orders, but omits previous provisions related to reducing loan concentrations that the Bank had satisfied. The revised Consent Order requires the Bank to continue to adhere to the plans implemented in response to the previous Consent Orders. The revised Consent Order is included as an exhibit to this report. We continue to work toward capital ratio compliance. As of September 30, 2015, the Bank’s Tier 1 leverage ratio and total risk based capital ratio were both less than the minimum capital ratios required by the Consent Order. Bank regulatory agencies can exercise discretion when an institution does not meet the terms of a consent order. Based on individual circumstances, the agencies may issue mandatory directives, impose monetary penalties, initiate changes in management, or take more serious adverse actions such as directing a bank to seek a buyer or taking a bank into receivership. In order to meet the capital requirements of the Consent Order, the Board of Directors and management are continuing to evaluate and implement strategies to achieve the following objectives: ● Increasing capital through the limited issuance of common stock to new and existing shareholders. ● Continuing to operate the Company and Bank in a safe and sound manner. We have reduced our lending concentrations, and the size of our balance sheet while continuing to remediate non-performing loans. ● In executing on our commitment to improve credit quality, reduce loan concentrations, and reduce balance sheet risk, we have: o Reduced the size of our loan portfolio significantly from $1.3 billion at December 31, 2010 to $624.4 million at September 30, 2015. o Reduced our construction and development loans to less than 75% of total risk-based capital at September 30, 2015. o Reduced our non-owner occupied commercial real estate loans, construction and development loans, and multi-family residential real estate loans. These loans represented 221% of total risk-based capital at September 30, 2015, down from 262% at December 31, 2014. ● Executing on our commitment to sell OREO and reinvest in quality income producing assets. o Our acquisition of real estate assets through the loan remediation process increased during 2014, as we acquired $32.3 million of OREO in 2014 compared with $20.6 million during 2013. We acquired $4.5 million in the first nine months of 2015. Nonaccrual loans totaled $17.0 million at September 30, 2015, and we expect to resolve a portion of these loans by foreclosure, which may result in further additions to our OREO portfolio. o We incurred OREO losses totaling $7.1 million during the first nine months of 2015, the result of fair value write-downs to reflect reductions in listing prices for certain properties, updated appraisals, and the liquidation of properties through auctions near and after the end of the third quarter, offset by a $27,000 net gain on sales of OREO. Proceeds from the sale of OREO totaled $14.4 million for the nine months ended September 30, 2015, and $7.3 million for the nine months ended September 30, 2014. OREO expense may be elevated in future periods as we work to sell these properties, given the current size of the OREO portfolio. At quarter end, $6.5 million of OREO property was subject to a contract for sale or letter of intent. o Real estate construction represents 50% of the OREO portfolio at September 30, 2015 compared with 40% at December 31, 2014. Commercial real estate represents 41% of the OREO portfolio at September 30, 2015 compared with 31% at December 31, 2014, and 1-4 family residential properties represent 9% of the portfolio at September 30, 2015 compared with 17% at December 31, 2014. ● Continuing to improve our internal processes and procedures, distribution of labor, and work-flow to ensure we have adequately and appropriately deployed resources in an efficient manner in the current environment. The Company’s liquid assets were $1.2 million at September 30, 2015. Since the Bank is unlikely to be in a position to pay dividends to the parent company for the foreseeable future, cash inflows for the parent are limited to earnings on investment securities, sales of investment securities, interest on deposits with the Bank, the issuance of new debt, or the issuance of capital securities. Ongoing operating expenses of the parent company are forecast at approximately $1.0 million for the next twelve months. Effective with the fourth quarter of 2011, we began deferring interest payments on the junior subordinated debentures relating to our trust preferred securities. Deferring interest payments on the junior subordinated debentures resulted in a deferral of distributions on our trust preferred securities. If we defer distributions on our trust preferred securities for 20 consecutive quarters, we must pay all deferred distributions in full or we will be in default. Our deferral period expires in the third quarter of 2016. Deferred distributions on our trust preferred securities, which totaled $2.3 million as of September 30, 2015, are cumulative, and unpaid distributions accrue and compound on each subsequent payment date. If as a result of a default we become subject to any liquidation, dissolution or winding up, holders of the trust preferred securities will be entitled to receive the liquidation amounts to which they are entitled, including all accrued and unpaid distributions, before any distribution can be made to our shareholders. In addition, the holders of our Series E and Series F Preferred Shares will be entitled to receive liquidation distributions totaling $10.5 million before any distribution can be made to the holders of our common shares. On September 30, 2015, we completed a common equity for debt exchange with holders of $4.0 million of the capital securities (the “Trust Securities”) of Porter Statutory Trust IV, a trust subsidiary of the Company. Accrued and unpaid interest on the Trust Securities totaled approximately $330,000. In exchange for the $4.3 million debt and interest liability, the Company issued 800,000 common shares and 400,000 non-voting common shares, for a total of 1,200,000 shares. In the transaction, a wholly owned subsidiary of the Company received a one-third portion of the Trust Securities directly from an unrelated third party in exchange for 400,000 common shares, resulting in an $883,000 gain on extinguishment of debt. The subsidiary also received two-thirds of the Trust Securities from related parties in exchange for 400,000 common shares and 400,000 non-voting common shares. The debt and interest liability exchanged with related parties was treated as a capital transaction. |
Note 3 - Securities
Note 3 - Securities | 9 Months Ended |
Sep. 30, 2015 | |
Investments, Debt and Equity Securities [Abstract] | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | Note 3 – Securities The fair value of available for sale securities and the related gross unrealized gains and losses recognized in accumulated other comprehensive income (loss) were as follows: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (in thousands) September 30, 2015 Available for sale U.S. Government and federal agency $ 30,882 $ 212 $ (279 ) $ 30,815 Agency mortgage-backed: residential 104,642 1,637 (113 ) 106,166 State and municipal 6,595 328 (7 ) 6,916 Corporate bonds 2,316 6 (33 ) 2,289 Other debt securities 572 79 — 651 Total available for sale $ 145,007 $ 2,262 $ (432 ) $ 146,837 Amortized Cost Gross Unrecognized Gains Gross Unrecognized Losses Fair Value Held to maturity State and municipal $ 42,138 $ 2,106 $ — $ 44,244 Total held to maturity $ 42,138 $ 2,106 $ — $ 44,244 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value December 31, 2014 Available for sale U.S. Government and federal agency $ 35,725 $ 308 $ (590 ) $ 35,443 Agency mortgage-backed: residential 121,985 1,970 (357 ) 123,598 State and municipal 11,690 722 (8 ) 12,404 Corporate bonds 18,087 853 (252 ) 18,688 Other debt securities 572 86 — 658 Total available for sale $ 188,059 $ 3,939 $ (1,207 ) $ 190,791 Amortized Cost Gross Unrecognized Gains Gross Unrecognized Losses Fair Value Held to maturity State and municipal $ 42,325 $ 2,173 $ — $ 44,498 Total held to maturity $ 42,325 $ 2,173 $ — $ 44,498 Sales and calls of available for sale securities were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 (in thousands) (in thousands) Proceeds $ 230 $ 4,147 $ 44,340 $ 4,151 Gross gains — 86 1,832 132 Gross losses — 40 136 40 The amortized cost and fair value of the debt investment securities portfolio are shown by contractual maturity. Contractual maturities may differ from actual maturities if issuers have the right to call or prepay obligations with or without call or prepayment penalties. Mortgage-backed securities not due at a single maturity date are detailed separately. September 30, 2015 Amortized Cost Fair Value (in thousands) Maturity Available for sale Within one year $ 5,821 $ 5,854 One to five years 8,532 8,882 Five to ten years 25,440 25,284 Beyond ten years 572 651 Agency mortgage-backed: residential 104,642 106,166 Total $ 145,007 $ 146,837 Held to maturity One to five years $ 15,644 $ 16,262 Five to ten years 22,937 24,208 Beyond ten years 3,557 3,774 Total $ 42,138 $ 44,244 Securities pledged at September 30, 2015 and December 31, 2014 had carrying values of approximately $51.6 million and $80.8 million, respectively, and were pledged to secure public deposits and repurchase agreements. At September 30, 2015 and December 31, 2014, we held securities issued by the Commonwealth of Kentucky or municipalities in the Commonwealth of Kentucky having a book value of $17.7 million and $19.1 million, respectively. Additionally, at September 30, 2015 and December 31, 2014, we held securities issued by the State of Texas or municipalities in the State of Texas having a book value of $4.3 million and $4.4 million, respectively. At September 30, 2015 and December 31, 2014, there were no other holdings of securities of any one issuer, other than the U.S. Government and its agencies, in an amount greater than 10% of stockholders’ equity. Securities with unrealized losses at September 30, 2015 and December 31, 2014, aggregated by investment category and length of time the individual securities have been in a continuous unrealized loss position, are as follows: Less than 12 Months 12 Months or More Total Description of Securities Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss (in thousands) September 30, 2015 Available for sale U.S. Government and federal agency $ 5,280 $ (12 ) $ 14,798 $ (267 ) $ 20,078 $ (279 ) Agency mortgage-backed: residential 6,071 (40 ) 4,014 (73 ) 10,085 (113 ) State and municipal 472 (7 ) — — 472 (7 ) Corporate bonds 1,519 (33 ) — — 1,519 (33 ) Total available for sale temporarily impaired $ 13,342 $ (92 ) $ 18,812 $ (340 ) $ 32,154 $ (432 ) Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss December 31, 2014 Available for sale U.S. Government and federal agency $ 7,778 $ (60 ) $ 18,681 $ (530 ) $ 26,459 $ (590 ) Agency mortgage-backed: residential 6,960 (12 ) 17,938 (345 ) 24,898 (357 ) State and municipal 569 (8 ) — — 569 (8 ) Corporate bonds 4,884 (119 ) 1,660 (133 ) 6,544 (252 ) Total temporarily impaired $ 20,191 $ (199 ) $ 38,279 $ (1,008 ) $ 58,470 $ (1,207 ) There were no held to maturity securities in an unrecognized loss position at September 30, 2015 or December 31, 2014. The Company evaluates securities for other than temporary impairment (OTTI) on a quarterly basis. Consideration is given to the length of time and the extent to which the fair value has been less than cost, the financial condition and near-term prospects of the issuer, underlying credit quality of the issuer, and the intent and ability of the Company to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value. In analyzing an issuer’s financial condition, the Company may consider whether the securities are issued by the federal government or its agencies, whether downgrades by bond rating agencies have occurred, the sector or industry trends and cycles affecting the issuer, and the results of reviews of the issuer’s financial condition. Management currently intends to hold all securities with unrealized losses until recovery, which for fixed income securities may be at maturity. As of September 30, 2015, management does not believe securities within our portfolio with unrealized losses should be classified as other than temporarily impaired. |
Note 4 - Loans
Note 4 - Loans | 9 Months Ended |
Sep. 30, 2015 | |
Receivables [Abstract] | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | Note 4 – Loans Loans were as follows: September 30, December 31, 2015 2014 (in thousands) Commercial $ 84,908 $ 60,936 Commercial Real Estate: Construction 31,484 33,173 Farmland 76,670 77,419 Nonfarm nonresidential 145,899 175,452 Residential Real Estate: Multi-family 39,579 41,891 1-4 Family 204,309 197,278 Consumer 10,483 11,347 Agriculture 30,609 26,966 Other 473 537 Subtotal 624,414 624,999 Less: Allowance for loan losses (14,198 ) (19,364 ) Loans, net $ 610,216 $ 605,635 The following table presents the activity in the allowance for loan losses by portfolio segment for the three months ended September 30, 2015 and 2014: Commercial Commercial Real Estate Residential Real Estate Consumer Agriculture Other Total (in thousands) September 30, 2015: Beginning balance $ 1,946 $ 9,213 $ 5,060 $ 226 $ 359 $ 5 $ 16,809 Negative provision (180 ) (1,334 ) (489 ) (73 ) (120 ) (4 ) (2,200 ) Loans charged off (201 ) (768 ) (486 ) (70 ) (41 ) (14 ) (1,580 ) Recoveries 5 905 144 98 2 15 1,169 Ending balance $ 1,570 $ 8,016 $ 4,229 $ 181 $ 200 $ 2 $ 14,198 September 30, 2014: Beginning balance $ 3,115 $ 14,359 $ 6,873 $ 339 $ 435 $ 12 $ 25,133 Provision for loan losses (471 ) (336 ) 803 28 (8 ) (16 ) – Loans charged off (216 ) (742 ) (806 ) (59 ) – (1 ) (1,824 ) Recoveries 108 458 284 23 2 14 889 Ending balance $ 2,536 $ 13,739 $ 7,154 $ 331 $ 429 $ 9 $ 24,198 The following table presents the activity in the allowance for loan losses by portfolio segment for the nine months ended September 30, 2015 and 2014: Commercial Commercial Real Estate Residential Real Estate Consumer Agriculture Other Total (in thousands) September 30, 2015: Beginning balance $ 2,046 $ 10,931 $ 5,787 $ 274 $ 319 $ 7 $ 19,364 Negative provision (207 ) (1,657 ) (269 ) (51 ) (13 ) (3 ) (2,200 ) Loans charged off (675 ) (2,361 ) (1,777 ) (200 ) (111 ) (47 ) (5,171 ) Recoveries 406 1,103 488 158 5 45 2,205 Ending balance $ 1,570 $ 8,016 $ 4,229 $ 181 $ 200 $ 2 $ 14,198 September 30, 2014: Beginning balance $ 3,221 $ 16,414 $ 7,762 $ 416 $ 305 $ 6 $ 28,124 Provision for loan losses (355 ) 4,611 1,897 19 143 (15 ) 6,300 Loans charged off (670 ) (9,110 ) (3,162 ) (238 ) (30 ) (19 ) (13,229 ) Recoveries 340 1,824 657 134 11 37 3,003 Ending balance $ 2,536 $ 13,739 $ 7,154 $ 331 $ 429 $ 9 $ 24,198 The following table presents the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on the impairment method as of September 30, 2015: Commercial Commercial Real Estate Residential Real Estate Consumer Agriculture Other Total (in thousands) Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment - $ 65 $ 404 $ - $ - $ - $ 469 Collectively evaluated for impairment 1,570 7,951 3,825 181 200 2 13,729 Total ending allowance balance $ 1,570 $ 8,016 $ 4,229 $ 181 $ 200 $ 2 $ 14,198 Loans: Loans individually evaluated for impairment $ 1,330 $ 14,910 $ 18,478 $ 25 $ 152 $ - $ 34,895 Loans collectively evaluated for impairment 83,578 239,143 225,410 10,458 30,457 473 589,519 Total ending loans balance $ 84,908 $ 254,053 $ 243,888 $ 10,483 $ 30,609 $ 473 $ 624,414 The following table presents the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on the impairment method as of December 31, 2014: Commercial Commercial Real Estate Residential Real Estate Consumer Agriculture Other Total (in thousands) Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 33 $ 491 $ 227 $ 1 $ - $ - $ 752 Collectively evaluated for impairment 2,013 10,440 5,560 273 319 7 18,612 Total ending allowance balance $ 2,046 $ 10,931 $ 5,787 $ 274 $ 319 $ 7 $ 19,364 Loans: Loans individually evaluated for impairment $ 2,022 $ 48,141 $ 21,384 $ 61 $ 263 $ 122 $ 71,993 Loans collectively evaluated for impairment 58,914 237,903 217,785 11,286 26,703 415 553,006 Total ending loans balance $ 60,936 $ 286,044 $ 239,169 $ 11,347 $ 26,966 $ 537 $ 624,999 Impaired Loans Impaired loans include restructured loans and loans on nonaccrual or classified as doubtful, whereby collection of the total amount is improbable, or loss, whereby all or a portion of the loan has been written off or a specific allowance for loss has been provided. The following tables present information related to loans individually evaluated for impairment by class of loans as of September 30, 2015 and December 31, 2014 and for the three and nine months ended September 30, 2015 and 2014: As of September 30, 2015 Three Months Ended September 30, 2015 Nine Months Ended September 30, 2015 Unpaid Principal Balance Recorded Investment Allowance For Loan Losses Allocated Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized (in thousands) With No Related Allowance Recorded: Commercial $ 1,774 $ 1,330 $ — $ 1,439 $ — $ 1,630 $ 5 Commercial real estate: Construction 803 654 — 833 3 2,426 11 Farmland 6,521 4,164 — 4,305 34 4,555 60 Nonfarm nonresidential 13,837 9,403 — 13,347 65 18,133 202 Residential real estate: Multi-family 32 31 — 33 — 37 — 1-4 Family 15,204 12,426 — 13,163 96 14,040 340 Consumer 123 25 — 23 — 25 — Agriculture 260 152 — 191 — 219 — Other — — — — 1 61 5 Subtotal 38,554 28,185 — 33,334 199 41,126 623 With An Allowance Recorded: Commercial — — — 4 — 16 — Commercial real estate: Construction — — — — — — — Farmland — — — — — 79 — Nonfarm nonresidential 788 689 65 2,708 6 5,622 18 Residential real estate: Multi-family 4,212 4,212 65 4,216 51 4,237 153 1-4 Family 1,809 1,809 339 1,691 29 1,709 68 Consumer — — — — — 10 — Agriculture — — — — — — — Other — — — — — — — Subtotal 6,809 6,710 469 8,619 86 11,673 239 Total $ 45,363 $ 34,895 $ 469 $ 41,953 $ 285 $ 52,799 $ 862 As of December 31, 2014 Three Months Ended September 30, 2014 Nine Months Ended September 30, 2014 Unpaid Principal Balance Recorded Investment Allowance For Loan Losses Allocated Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized (in thousands) With No Related Allowance Recorded: Commercial $ 2,546 $ 1,978 $ — $ 1,972 $ — $ 2,325 $ 55 Commercial real estate: Construction 4,714 4,100 — 4,133 3 5,783 9 Farmland 6,636 4,739 — 5,684 26 6,503 74 Nonfarm nonresidential 34,437 22,418 — 30,395 128 44,211 586 Residential real estate: Multi-family 81 81 — 85 — 2,060 — 1-4 Family 18,496 15,266 — 19,987 150 24,520 567 Consumer 93 29 — 16 — 10 — Agriculture 276 263 — 249 — 280 3 Other 367 122 — 169 5 288 14 Subtotal 67,646 48,996 — 62,690 312 85,980 1,308 With An Allowance Recorded: Commercial 145 44 33 161 11 1,190 31 Commercial real estate: Construction — — — 355 5 736 16 Farmland 658 315 38 — — 62 — Nonfarm nonresidential 19,454 16,569 453 9,983 165 13,273 336 Residential real estate: Multi-family 4,266 4,266 91 4,274 52 4,467 128 1-4 Family 1,791 1,771 136 1,715 20 1,858 58 Consumer 32 32 1 41 1 53 2 Agriculture — — — — — — — Other — — — — — — — Subtotal 26,346 22,997 752 16,529 254 21,639 571 Total $ 93,992 $ 71,993 $ 752 $ 79,219 $ 566 $ 107,619 $ 1,879 Cash basis income recognized for the three and nine months ended September 30, 2015 was $47,000 and $149,000, respectively, compared to $58,000 and $480,000 for the three and nine months ended September 30, 2014. Troubled Debt Restructuring A troubled debt restructuring (TDR) occurs when the Company has agreed to a loan modification in the form of a concession for a borrower who is experiencing financial difficulty. The majority of the Company’s TDRs involve a reduction in interest rate, a deferral of principal for a stated period of time, or an interest only period. All TDRs are considered impaired and the Company has allocated reserves for these loans to reflect the present value of the concessionary terms granted to the borrower. The following table presents the types of TDR loan modifications by portfolio segment outstanding as of September 30, 2015 and December 31, 2014: TDRs Performing to Modified Terms TDRs Not Performing to Modified Terms Total TDRs (in thousands) September 30, 2015 Commercial Rate reduction $ — $ 68 $ 68 Principal deferral — 626 626 Commercial Real Estate: Construction Rate reduction 264 — 264 Farmland Principal deferral — 2,365 2,365 Nonfarm nonresidential Rate reduction 5,679 75 5,754 Principal deferral — 654 654 Residential Real Estate: Multi-family Rate reduction 4,212 — 4,212 1-4 Family Rate reduction 7,501 — 7,501 Total TDRs $ 17,656 $ 3,788 $ 21,444 TDRs Performing to Modified Terms TDRs Not Performing to Modified Terms Total TDRs (in thousands) December 31, 2014 Commercial Rate reduction $ 14 $ — $ 14 Principal deferral — 869 869 Commercial Real Estate: Construction Rate reduction 268 3,379 3,647 Farmland Principal deferral — 2,365 2,365 Other Rate reduction 8,622 13,894 22,516 Principal deferral 671 — 671 Residential Real Estate: Multi-family Rate reduction 4,266 — 4,266 1-4 Family Rate reduction 8,112 — 8,112 Consumer Rate reduction 32 — 32 Total TDRs $ 21,985 $ 20,507 $ 42,492 At September 30, 2015 and December 31, 2014, 83% and 52%, respectively, of the Company’s TDRs were performing according to their modified terms. The Company allocated $198,000 and $579,000 in reserves to borrowers whose loan terms have been modified in TDRs as of September 30, 2015, and December 31, 2014, respectively. The Company has made no commitment to lend additional amounts to customers as of September 30, 2015 and December 31, 2014 to borrowers with outstanding loans classified as TDRs. Management periodically reviews renewals/modifications of previously identified TDRs, for which there was no principal forgiveness, to consider if it is appropriate to remove the TDR classification. If the borrower is no longer experiencing financial difficulty and the renewal/modification did not contain a concessionary interest rate or other concessionary terms, management considers the potential removal of the TDR classification. If deemed appropriate, the TDR classification is removed as the borrower has complied with the terms of the loan at the date of renewal/modification and there was a reasonable expectation that the borrower would continue to comply with the terms of the loan after the date of the renewal/modification. In this instance, the TDR was originally considered a restructuring in a prior year as a result of a modification with an interest rate that was not commensurate with the risk of the underlying loan. Additionally, TDR classification can be removed in circumstances in which the Company performs a non-concessionary re-modification of the loan at terms that were considered to be at market for loans with comparable risk. Management expects the borrower will continue to perform under the re-modified terms based on the borrower’s past history of performance. No TDR loan modifications occurred during the three or nine months ended September 30, 2015 or September 30, 2014. During the first nine months of 2015 and 2014, no TDRs defaulted on their restructured loan within the 12 month period following the loan modification. A default is considered to have occurred once the TDR is past due 90 days or more or it has been placed on nonaccrual. Nonperforming Loans Nonperforming loans include impaired loans not on accrual and smaller balance homogeneous loans, such as residential mortgage and consumer loans, that are collectively evaluated for impairment. The following table presents the recorded investment in nonaccrual and loans past due 90 days and still on accrual by class of loan as of September 30, 2015, and December 31, 2014: Nonaccrual Loans Past Due 90 Days And Over Still Accruing September 30, 2015 December 31, 2014 September 30, 2015 December 31, 2014 (in thousands) Commercial $ 1,330 $ 1,978 $ — $ — Commercial Real Estate: Construction 390 3,831 — — Farmland 4,164 5,054 — — Nonfarm nonresidential 4,412 26,892 — — Residential Real Estate: Multi-family 32 80 — — 1-4 Family 6,482 8,925 — 151 Consumer 25 30 — — Agriculture 152 263 — — Other — 122 — — Total $ 16,987 $ 47,175 $ — $ 151 The following table presents the aging of the recorded investment in past due loans as of September 30, 2015 and December 31, 2014: 30 – 59 Days Past Due 60 – 89 Days Past Due 90 Days And Over Past Due Nonaccrual Total Past Due And Nonaccrual (in thousands) September 30, 2015 Commercial $ 18 $ 4 $ — $ 1,330 $ 1,352 Commercial Real Estate: Construction — — — 390 390 Farmland 407 7 — 4,164 4,578 Nonfarm nonresidential — 44 — 4,412 4,456 Residential Real Estate: Multi-family — — — 32 32 1-4 Family 1,527 523 — 6,482 8,532 Consumer 14 — — 25 39 Agriculture 6 — — 152 158 Total $ 1,972 $ 578 $ — $ 16,987 $ 19,537 30 – 59 Days Past Due 60 – 89 Days Past Due 90 Days And Over Past Due Nonaccrual Total Past Due And Nonaccrual (in thousands) December 31, 2014 Commercial $ 86 $ — $ — $ 1,978 $ 2,064 Commercial Real Estate: Construction — — — 3,831 3,831 Farmland 400 14 — 5,054 5,468 Nonfarm nonresidential 241 318 — 26,892 27,451 Residential Real Estate: Multi-family — — — 80 80 1-4 Family 3,124 601 151 8,925 12,801 Consumer 109 47 — 30 186 Agriculture — — — 263 263 Other — — — 122 122 Total $ 3,960 $ 980 $ 151 $ 47,175 $ 52,266 Credit Quality Indicators We categorize all loans into risk categories at origination based upon original underwriting. Thereafter, we categorize loans into risk categories based on relevant information about the ability of borrowers to service their debt such as current financial information, historical payment experience, credit documentation, public information, and current economic trends. Additionally, loans are analyzed continuously through our internal and external loan review processes. Borrower relationships in excess of $500,000 are routinely analyzed through our credit administration processes which classify the loans as to credit risk. The following definitions are used for risk ratings: Watch – Special Mention – Substandard – Doubtful Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered to be “Pass” rated loans. As of September 30, 2015, and December 31, 2014, and based on the most recent analysis performed, the risk category of loans by class of loans is as follows: Pass Watch Special Mention Substandard Doubtful Total (in thousands) September 30, 2015 Commercial $ 75,683 $ 3,263 $ — $ 5,962 $ — $ 84,908 Commercial Real Estate: Construction 25,475 5,355 — 654 — 31,484 Farmland 65,831 4,299 — 6,540 — 76,670 Nonfarm nonresidential 111,725 23,161 1,339 9,674 — 145,899 Residential Real Estate: Multi-family 30,692 4,921 — 3,966 — 39,579 1-4 Family 165,313 18,736 68 20,192 — 204,309 Consumer 9,759 208 293 223 — 10,483 Agriculture 23,519 6,783 — 307 — 30,609 Other 473 — — — — 473 Total $ 508,470 $ 66,726 $ 1,700 $ 47,518 $ — $ 624,414 Pass Watch Special Mention Substandard Doubtful Total (in thousands) December 31, 2014 Commercial $ 49,440 $ 5,063 $ — $ 6,433 $ — $ 60,936 Commercial Real Estate: Construction 25,266 2,990 — 4,917 — 33,173 Farmland 61,672 7,922 — 7,825 — 77,419 Nonfarm nonresidential 111,426 21,017 3,747 39,262 — 175,452 Residential Real Estate: Multi-family 31,526 6,039 — 4,326 — 41,891 1-4 Family 145,450 23,928 131 27,769 — 197,278 Consumer 10,115 537 311 384 — 11,347 Agriculture 25,816 704 — 446 — 26,966 Other 415 — — 122 — 537 Total $ 461,126 $ 68,200 $ 4,189 $ 91,484 $ — $ 624,999 |
Note 5 - Other Real Estate Owne
Note 5 - Other Real Estate Owned | 9 Months Ended |
Sep. 30, 2015 | |
Disclosure Text Block [Abstract] | |
Real Estate Owned [Text Block] | Note 5 – Other Real Estate Owned Other real estate owned (OREO) is real estate acquired as a result of foreclosure or by deed in lieu of foreclosure. It is classified as real estate owned until such time as it is sold. When property is acquired as a result of foreclosure or by deed in lieu of foreclosure, it is recorded at its fair market value less cost to sell. Any write-down of the property at the time of acquisition is charged to the allowance for loan losses. Costs incurred in order to perfect the lien prior to foreclosure may be capitalized if the fair value less the cost to sell exceeds the balance of the loan at the time of transfer to OREO. Examples of eligible costs to be capitalized are payments of delinquent property taxes to clear tax liens or payments to contractors and subcontractors to clear mechanics’ liens. Fair value of OREO is determined on an individual property basis. To determine the fair value of OREO for smaller dollar single family homes, we consult with internal real estate sales staff and external realtors, investors, and appraisers. If the internally evaluated market price is below our underlying investment in the property, appropriate write-downs are taken. For larger dollar residential and commercial real estate properties, we obtain a new appraisal of the subject property or have staff from our special assets group or in our centralized appraisal department evaluate the latest in-file appraisal in connection with the transfer to other real estate owned. We typically obtain updated appraisals within five quarters of the anniversary date of ownership unless a sale is imminent. Subsequent reductions in fair value are recorded as non-interest expense when a new appraisal indicates a decline in value or in cases where a listing price is lowered below the appraised amount. The following table presents the major categories of OREO at the period-ends indicated: September 30, 2015 December 31, 2014 (in thousands) Commercial Real Estate: Construction, land development, and other land $ 14,749 $ 18,748 Farmland 34 669 Nonfarm nonresidential 12,059 14,860 Residential Real Estate: Multi-family — 4,988 1-4 Family 2,635 7,998 29,477 47,263 Valuation allowance (300 ) (1,066 ) $ 29,177 $ 46,197 For the Three Months Ended September 30, For the Nine Months Ended September 30, 2015 2014 2015 2014 (in thousands) (in thousands) OREO Valuation Allowance Activity: Beginning balance $ 307 $ 199 $ 1,066 $ 230 Provision to allowance 4,450 600 7,080 1,250 Write-downs (4,457 ) (268 ) (7,846 ) (949 ) Ending balance $ 300 $ 531 $ 300 $ 531 Residential loans secured by 1-4 family residential properties in the process of foreclosure totaled $1.6 million and $3.6 million at September 30, 2015 and December 31, 2014, respectively. At quarter end, $6.5 million of OREO property was subject to a contract for sale or letter of intent. Net activity relating to other real estate owned during the nine months ended September 30, 2015 and 2014 is as follows: For the Nine Months Ended September 30, 2015 2014 (in thousands) OREO Activity OREO as of January 1 $ 46,197 $ 30,892 Real estate acquired 4,450 31,663 Valuation adjustment writedowns (7,080 ) (1,250 ) Gain/(loss) on sale 27 455 Proceeds from sale of properties (14,417 ) (7,253 ) OREO as of September 30 $ 29,177 $ 54,507 Expenses related to other real estate owned include: Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 (in thousands) (in thousands) Net (gain) loss on sales $ 16 $ (401 ) $ (27 ) $ (455 ) Provision to allowance 4,450 600 7,080 1,250 Operating expense 665 361 1,743 1,201 Total $ 5,131 $ 560 $ 8,796 $ 1,996 |
Note 6 - Deposits
Note 6 - Deposits | 9 Months Ended |
Sep. 30, 2015 | |
Disclosure Text Block [Abstract] | |
Deposit Liabilities Disclosures [Text Block] | Note 6 – Deposits The following table shows ending deposit balances by category as of: September 30, 2015 December 31, 2014 (in thousands) Non-interest bearing $ 106,160 $ 114,910 Interest checking 83,247 91,086 Money market 119,324 109,734 Savings 35,131 36,430 Certificates of deposit 534,031 574,681 Total $ 877,893 $ 926,841 Time deposits of $250,000 or more were $33.0 million and $34.4 million at September 30, 2015 and December 31, 2014, respectively. Scheduled maturities of all time deposits at September 30, 2015 were as follows (in thousands): Year 1 $ 330,881 Year 2 122,321 Year 3 9,500 Year 4 21,319 Year 5 50,010 Thereafter — $ 534,031 |
Note 7 - Advances from the Fede
Note 7 - Advances from the Federal Home Loan Bank | 9 Months Ended |
Sep. 30, 2015 | |
Disclosure Text Block [Abstract] | |
Federal Home Loan Bank Advances, Disclosure [Text Block] | Note 7 – Advances from the Federal Home Loan Bank Advances from the Federal Home Loan Bank were as follows: September 30, December 31, 2015 2014 (in thousands) Monthly amortizing advances with fixed rates from 0.00% to 5.25% and maturities ranging from 2017 through 2033, averaging 2.73% at September 30, 2015 and 1.02% at December 31, 2014 $ 3,255 $ 15,752 Each advance is payable based upon the terms on agreement, with a prepayment penalty. New advances are limited to a one year maturity or less. No prepayment penalties were incurred during 2015 or 2014. The advances are collateralized by first mortgage loans. The borrowing capacity is based on the market value of the underlying pledged loans. At September 30, 2015, our additional borrowing capacity with the FHLB was $25.7 million. The availability of our borrowing capacity could be affected by our financial condition and the FHLB could require additional collateral or, among other things, exercise its right to deny a funding request, at its discretion. |
Note 8 - Fair Values Measuremen
Note 8 - Fair Values Measurement | 9 Months Ended |
Sep. 30, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value Disclosures [Text Block] | Note 8 – Fair Values Measurement Fair value is the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. We use various valuation techniques to determine fair value, including market, income and cost approaches. There are three levels of inputs that may be used to measure fair values: Level 1: Level 2: Level 3: In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. When that occurs, we classify the fair value hierarchy on the lowest level of input that is significant to the fair value measurement. We used the following methods and significant assumptions to estimate fair value. Securities: This valuation method is classified as Level 3 in the fair value hierarchy. Discounted cash flows are calculated using spread to swap and LIBOR curves that are updated to incorporate loss severities, volatility, credit spread and optionality. During times when trading is more liquid, broker quotes are used (if available) to validate the model. Rating agency and industry research reports as well as defaults and deferrals on individual securities are reviewed and incorporated into the calculations. Impaired Loans: Adjustments are routinely made in the appraisal process by the appraisers to adjust for differences between the comparable sales and income data available. These routine adjustments are made to adjust the value of a specific property relative to comparable properties for variations in qualities such as location, size, and income production capacity relative to the subject property of the appraisal. Such adjustments are typically significant and result in a Level 3 classification of the inputs for determining fair value. We routinely apply an internal discount to the value of appraisals used in the fair value evaluation of our impaired loans. The deductions to the appraisal take into account changing business factors and market conditions, as well as potential value impairment in cases where our appraisal date predates a likely change in market conditions. These deductions range from 10% for routine real estate collateral to 25% for real estate that is determined (1) to have a thin trading market or (2) to be specialized collateral. This is in addition to estimated discounts for cost to sell of six to ten percent. We also apply discounts to the expected fair value of collateral for impaired loans where the likely resolution involves litigation or foreclosure. Resolution of this nature generally results in receiving lower values for real estate collateral in a more aggressive sales environment. We have utilized discounts ranging from 10% to 33% in our impairment evaluations when applicable. Impaired loans are evaluated quarterly for additional impairment. We obtain updated appraisals on properties securing our loans when circumstances are warranted such as at the time of renewal or when market conditions have significantly changed. This determination is made on a property-by-property basis in light of circumstances in the broader economic climate and our assessment of deterioration of real estate values in the market in which the property is located. The first stage of our assessment involves management’s inspection of the property in question. Management also engages in conversations with local real estate professionals, investors, and market participants to determine the likely marketing time and value range for the property. The second stage involves an assessment of current trends in the regional market. After thorough consideration of these factors, management will either internally evaluate fair value or order a new appraisal. Other Real Estate Owned (OREO) For larger dollar commercial real estate properties, we obtain a new appraisal of the subject property or have staff in our special assets group or centralized appraisal department evaluate the latest in-file appraisal in connection with the transfer to other real estate owned. In some of these circumstances, an appraisal is in process at quarter end, and we must make our best estimate of the fair value of the underlying collateral based on our internal evaluation of the property, review of the most recent appraisal, and discussions with the currently engaged appraiser. We generally obtain updated appraisals within five quarters of the anniversary date of ownership unless a sale is imminent. When an asking price is lowered below the most recent appraised value, appropriate write-downs are taken. We routinely apply an internal discount to the value of appraisals used in the fair value evaluation of our OREO. The deductions to the appraisal take into account changing business factors and market conditions, as well as potential value impairment in cases where our appraisal date predates a likely change in market conditions. These deductions range from 10% for routine real estate collateral to 25% for real estate that is determined (1) to have a thin trading market or (2) to be specialized collateral. This is in addition to estimated discounts for cost to sell of six to ten percent. Financial assets measured at fair value on a recurring basis at September 30, 2015 and December 31, 2014 are summarized below: Fair Value Measurements at September 30, 2015 Using (in thousands) Description Carrying Value Quoted Prices In Significant Other Significant Inputs (Level 3) Available for sale securities U.S. Government and federal agency $ 30,815 $ — $ 30,815 $ — Agency mortgage-backed: residential 106,166 — 106,166 — State and municipal 6,916 — 6,916 — Corporate bonds 2,289 — 2,289 — Other debt securities 651 — — 651 Total $ 146,837 $ — $ 146,186 $ 651 Fair Value Measurements at December 31, 2014 Using (in thousands) Description Carrying Value Quoted Prices In Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Available for sale securities U.S. Government and federal agency $ 35,443 $ — $ 35,443 $ — Agency mortgage-backed: residential 123,598 — 123,598 — State and municipal 12,404 — 12,404 — Corporate bonds 18,688 — 18,688 — Other debt securities 658 — — 658 Total $ 190,791 $ — $ 190,133 $ 658 There were no transfers between Level 1 and Level 2 during 2015 or 2014. The table below presents a reconciliation of all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the periods ended September 30, 2015 and 2014: Other Debt Securities 2015 2014 (in thousands) Balances of recurring Level 3 assets at January 1 $ 658 $ 632 Total gain (loss) for the period: Included in other comprehensive income (loss) (7 ) 26 Balance of recurring Level 3 assets at September 30 $ 651 $ 658 Our other debt security valuation is determined internally by calculating discounted cash flows using the security’s coupon rate of 6.5% and an estimated current market rate of 8.25% based upon the current yield curve plus spreads that adjust for volatility, credit risk, and optionality. We also consider the issuer’s publicly filed financial information as well as assumptions regarding the likelihood of deferrals and defaults. Financial assets measured at fair value on a non-recurring basis are summarized below: Fair Value Measurements at September 30, 2015 Using (in thousands) Carrying Value Quoted Prices In Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Description Impaired loans: Commercial $ — $ — $ — $ — Commercial real estate: Construction — — — — Farmland — — — — Nonfarm nonresidential 339 — — 339 Residential real estate: Multi-family — — — — 1-4 Family 1,470 — — 1,470 Consumer — — — — Other — — — — Other real estate owned, net: Commercial real estate: Construction 14,599 — — 14,599 Farmland 33 — — 33 Nonfarm nonresidential 11,937 — — 11,937 Residential real estate: Multi-family — — — — 1-4 Family 2,608 — — 2,608 Fair Value Measurements at December 31, 2014 Using (in thousands) Carrying Value Quoted Prices In Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Description Impaired loans: Commercial $ 12 $ — $ — $ 12 Commercial real estate: Construction — — — — Farmland 278 — — 278 Other 15,825 — — 15,825 Residential real estate: Multi-family — — — — 1-4 Family 1,635 — — 1,635 Consumer 31 — — 31 Other — — — — Other real estate owned, net: Commercial real estate: Construction 18,325 — — 18,325 Farmland 654 — — 654 Other 14,525 — — 14,525 Residential real estate: Multi-family 4,875 — — 4,875 1-4 Family 7,818 — — 7,818 Impaired loans, which are measured for impairment using the fair value of the collateral for collateral dependent loans, had a carrying amount of $2.2 million at September 30, 2015 with a valuation allowance of $369,000, resulting in no additional provision for loan losses for the three and nine months ended September 30, 2015. Impaired loans, which are measured for impairment using the fair value of the collateral for collateral dependent loans, had a carrying amount of $8.9 million at September 30, 2014 with a valuation allowance of $1.7 million, resulting in an additional provision for loan losses of $5.2 million for the nine months ended September 30, 2014. At December 31, 2014, impaired loans had a carrying amount of $18.4 million, with a valuation allowance of $622,000. OREO, which is measured at the lower of carrying or fair value less estimated costs to sell, had a net carrying amount of $29.2 million as of September 30, 2015, compared with $54.5 million at September 30, 2014 and $46.2 million at December 31, 2014. Fair value write-downs of $7.1 million and $1.3 million were recorded on OREO for the nine months ended September 30, 2015 and 2014, respectively. The following table presents qualitative information about level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis at September 30, 2015: Fair Value Valuation Technique(s) Unobservable Input(s) Range (Weighted Average) (in thousands ) Impaired loans – Commercial real estate $ 339 Sales comparison approach Adjustment for differences between the comparable sales 5% - 16%(11%) Income approach Discount or capitalization rate 9% - 10%(9%) Impaired loans – Residential real estate $ 1,470 Sales comparison approach Adjustment for differences between the comparable sales 1% - 16%(7%) Other real estate owned – Commercial real estate $ 26,569 Sales comparison approach Adjustment for differences between the comparable sales 0% - 72%(21%) Income approach Discount or capitalization rate 9% - 20%(13%) Other real estate owned – Residential real estate $ 2,608 Sales comparison approach Adjustment for differences between the comparable sales 0% - 15%(8%) The following table presents qualitative information about level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis at December 31, 2014: Fair Value Valuation Technique(s) Unobservable Input(s) Range (Weighted Average) (in thousands) Impaired loans – Commercial $ 12 Market value approach Adjustment for receivables and inventory discounts 16% - 32%(24%) Impaired loans – Commercial real estate $ 16,103 Sales comparison approach Adjustment for differences between the comparable sales 0% - 62%(14%) Income approach Discount or capitalization rate 8% - 9%(8%) Impaired loans – Residential real estate $ 1,635 Sales comparison approach Adjustment for differences between the comparable sales 0% - 39%(11%) Other real estate owned – Commercial real estate $ 33,504 Sales comparison approach Adjustment for differences between the comparable sales 0% - 45%(18%) Income approach Discount or capitalization rate 9% - 20%(13%) Other real estate owned – Residential real estate $ 12,693 Sales comparison approach Adjustment for differences between the comparable sales 0% - 15%(6%) Carrying amount and estimated fair values of financial instruments were as follows for the periods indicated: Fair Value Measurements at September 30, 2015 Using Carrying Amount Level 1 Level 2 Level 3 Total (in thousands) Financial assets Cash and cash equivalents $ 80,480 $ 68,257 $ 12,223 $ — $ 80,480 Securities available for sale 146,837 — 146,186 651 146,837 Securities held to maturity 42,138 — 44,244 — 44,244 Federal Home Loan Bank stock 7,323 N/A N/A N/A N/A Loans held for sale 71 — 71 — 71 Loans, net 610,216 — — 620,807 620,807 Accrued interest receivable 3,291 — 1,052 2,239 3,291 Financial liabilities Deposits $ 877,893 $ 106,160 $ 766,831 $ — $ 872,991 Securities sold under agreements to repurchase — — — — — Federal Home Loan Bank advances 3,255 — 3,263 — 3,263 Subordinated capital notes 4,275 — — 4,142 4,142 Junior subordinated debentures 21,000 — — 12,638 12,638 Accrued interest payable 2,851 — 530 2,321 2,851 Fair Value Measurements at December 31, 2014 Using Carrying Amount Level 1 Level 2 Level 3 Total (in thousands) Financial assets Cash and cash equivalents $ 80,180 $ 49,007 $ 31,173 $ — $ 80,180 Securities available for sale 190,791 — 190,133 658 190,791 Securities held to maturity 42,325 — 44,498 — 44,498 Federal Home Loan Bank stock 7,323 N/A N/A N/A N/A Loans held for sale 8,926 — 8,926 — 8,926 Loans, net 605,635 — — 615,914 615,914 Accrued interest receivable 3,503 — 1,389 2,114 3,503 Financial liabilities Deposits $ 926,841 $ 114,910 $ 804,508 $ — $ 919,418 Securities sold under agreements to repurchase 1,341 — 1,341 — 1,341 Federal Home Loan Bank advances 15,752 — 15,758 — 15,758 Subordinated capital notes 4,950 — — 4,765 4,765 Junior subordinated debentures 25,000 — — 14,214 14,214 Accrued interest payable 2,858 — 751 2,107 2,858 The methods and assumptions, not previously presented, used to estimate fair values are described as follows: (a) Cash and Cash Equivalents The carrying amounts of cash and short-term instruments approximate fair values and are classified as either Level 1 or Level 2. Non-interest bearing deposits are Level 1 whereas interest bearing due from bank accounts and fed funds sold are Level 2. (b) FHLB Stock It is not practical to determine the fair value of FHLB stock due to restrictions placed on its transferability. (c) Loans, Net Fair values of loans, excluding loans held for sale, are estimated as follows: For variable rate loans that reprice frequently and with no significant change in credit risk, fair values are based on carrying values resulting in a Level 3 classification. Fair values for other loans are estimated using discounted cash flow analyses, using interest rates currently being offered for loans with similar terms to borrowers of similar credit quality resulting in a Level 3 classification. Impaired loans are valued at the lower of cost or fair value as described previously. The methods utilized to estimate the fair value of loans do not necessarily represent an exit price. (d) Loans Held for Sale The fair value of loans held for sale is estimated based upon binding contracts and and/or quotes from third party investors resulting in a Level 2 classification. (e) Deposits The fair values disclosed for non-interest bearing deposits are, by definition, equal to the amount payable on demand at the reporting date resulting in a Level 1 classification. The carrying amounts of variable rate interest bearing deposits approximate their fair values at the reporting date resulting in a Level 2 classification. Fair values for fixed rate interest bearing deposits are estimated using a discounted cash flows calculation that applies interest rates currently being offered on certificates to a schedule of aggregated expected monthly maturities on time deposits resulting in a Level 2 classification. (f) Securities Sold Under Agreements to Repurchase The carrying amounts of borrowings under repurchase agreements approximate their fair values resulting in a Level 2 classification. ( g) Other Borrowings The fair values of the Company’s FHLB advances are estimated using discounted cash flow analyses based on the current borrowing rates resulting in a Level 2 classification. The fair values of the Company’s subordinated capital notes and junior subordinated debentures are estimated using discounted cash flow analyses based on the current borrowing rates for similar types of borrowing arrangements resulting in a Level 3 classification. (h) Accrued Interest Receivable/Payable The carrying amounts of accrued interest approximate fair value resulting in a Level 2 or Level 3 classification based on the level of the asset or liability with which the accrual is associated. |
Note 9 - Income Taxes
Note 9 - Income Taxes | 9 Months Ended |
Sep. 30, 2015 | |
Income Tax Disclosure [Abstract] | |
Income Tax Disclosure [Text Block] | Note 9 – Income Taxes Deferred tax assets and liabilities were due to the following as of: September 30, December 31, 2015 2014 (in thousands) Deferred tax assets: Net operating loss carry-forward $ 35,788 $ 32,111 Allowance for loan losses 4,969 6,777 Other real estate owned write-down 9,647 10,000 Alternative minimum tax credit carry-forward 692 692 Net assets from acquisitions 671 668 Other than temporary impairment on securities 46 46 New market tax credit carry-forward 208 208 Nonaccrual loan interest 607 958 Amortization of non-compete agreements 12 14 Other 1,674 1,701 54,314 53,175 Deferred tax liabilities: FHLB stock dividends 928 928 Fixed assets 225 264 Originated mortgage servicing rights 37 53 Net unrealized gain on securities 297 579 Other 669 703 2,156 2,527 Net deferred tax assets before valuation allowance 52,158 50,648 Valuation allowance (52,158 ) (50,648 ) Net deferred tax asset $ — $ — Our estimate of the realizability of the deferred tax asset is dependent on our estimate of projected future levels of taxable income. In analyzing future taxable income levels, we considered all evidence currently available, both positive and negative. Based on our analysis, we established a valuation allowance for all deferred tax assets as of December 31, 2011. The valuation allowance remains in effect as of September 30, 2015. The calculation for the income tax provision or benefit generally does not consider the tax effects of changes in other comprehensive income, or OCI, which is a component of stockholders’ equity on the balance sheet. However, an exception is provided in certain circumstances, such as when there is a full valuation allowance against net deferred tax assets, there is a loss from continuing operations and there is income in other components of the financial statements. In such a case, pre-tax income from other categories, such as changes in OCI, must be considered in determining a tax benefit to be allocated to the loss from continuing operations. No tax benefit or expense was recognized for the nine months ended September 30, 2015, and a tax benefit of $1.3 million was allocated to continuing operations for the nine months ended September 30, 2014. The September 30, 2014 tax benefit is entirely due to gains in other comprehensive income that are presented in current operations in accordance with applicable accounting standards. The Company does not have any beginning and ending unrecognized tax benefits. The Company does not expect the total amount of unrecognized tax benefits to significantly increase or decrease in the next twelve months. There were no interest and penalties recorded in the income statement or accrued for the nine months ended September 30, 2015 or September 30, 2014 related to unrecognized tax benefits. On June 24, 2015, the Board of Directors approved the adoption of a tax benefits preservation plan designed to preserve the value of certain of the Company's deferred tax assets primarily associated with net operating loss carryforwards (“NOLs”) under Section 382 of the Internal Revenue Code, as amended (“Section 382”). NOLs can generally be used to offset future taxable income and therefore reduce federal income tax obligations. However, the Company's ability to use its NOLs would be limited if there was an “ownership change” under Section 382. This would occur if shareholders owning (or deemed to own under the tax rules) 5% or more of the Company's increase their aggregate ownership of the Company by more than 50 percentage points over a defined period of time. The plan is intended to reduce the likelihood of an “ownership change” occurring as a result of the buying and selling of the Company's common stock. In connection with the tax benefits preservation plan, the Company declared a dividend of one preferred stock purchase right for each share of common stock outstanding as of the close of business on July 10, 2015. Any shareholder or group that acquires beneficial ownership of 5% or more of the Company (an “acquiring person”) could be subject to significant dilution in its holdings if the Company's Board of Directors does not approve such acquisition. Existing shareholders holding 5% or more of the Company will not be considered acquiring persons unless they acquire additional shares, subject to certain exceptions described in the plan. In addition, in its discretion, the Board of Directors may exempt certain transactions and certain persons whose acquisition of securities is determined by the board not to jeopardize the Company's deferred tax assets. The rights will expire upon the earlier of (i) June 29, 2018, (ii) the beginning of a taxable year with respect to which the Board of Directors determines that no tax benefits may be carried forward, (iii) the repeal or amendment of Section 382 or any successor statute, if the Board of Directors determines that the plan is no longer needed to preserve the tax benefits, and (iv) certain other events as described in the plan. On September 23, 2015, the Company’s shareholders approved an amendment to its articles of incorporation to further help protect the long-term value of the Company’s NOLs. The amendment provides a means to block transfers of our common shares that could result in an ownership change under Section 382. The transfer restrictions will expire on the earlier of (i) September 23, 2018, (ii) the beginning of a taxable year with respect to which the Board of Directors determines that no tax benefit may be carried forward, (iii) the repeal of Section 382 or any successor statute if our Board determines that the transfer restrictions are no longer needed to preserve the tax benefits of our NOLs, or (iv) such date as the Board otherwise determines that the transfer restrictions are no longer necessary. The Company and its subsidiaries are subject to U.S. federal income tax and the Company is subject to income tax in the Commonwealth of Kentucky. The Company is no longer subject to examination by taxing authorities for years before 2011. |
Note 10 - Stock Plans and Stock
Note 10 - Stock Plans and Stock Based Compensation | 9 Months Ended |
Sep. 30, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | Note 10 – Stock Plans and Stock Based Compensation The Company has two stock incentive plans. The Porter Bancorp, Inc. 2006 Stock Incentive Plan permits the issuance of up to 1,563,050 shares of the Company’s common stock upon the grant of stock awards. As of September 30, 2015, the Company had issued and outstanding 924,091 unvested shares net of forfeitures and vesting under the stock incentive plan. Shares issued under the plan vest annually on the anniversary date of the grant over three to ten years. The Company has 301,920 shares remaining available for issuance under the plan. The Porter Bancorp, Inc. 2006 Non-Employee Directors Stock Ownership Incentive Plan permits the issuance of up to 700,000 shares of the Company’s voting common stock upon the grant of stock awards. The Plan awards restricted shares having a fair market value of $25,000 annually to each non-employee director. Unvested shares are granted automatically under the plan at fair market value on the date of grant and vest on December 31 in the year of grant. The Company has issued and outstanding 115,740 unvested shares, net of forfeitures and vesting, to non-employee directors. At September 30, 2015, 185,774 shares remain available for issuance under this plan. Upon the sale of our Series A preferred shares by the U.S. Treasury at a discount to face amount on December 4, 2014, the restricted shares previously granted in the employment agreements of our senior executives became subject to permanent transfer restrictions. On March 25, 2015, the Compensation Committee modified the equity compensation arrangements with our four named executive officers to restore the incentive that was the underlying purpose of the previous grants. The Compensation Committee and the named executive officers mutually agreed to terminate 538,479 restricted shares that were subject to permanent restrictions on transfer. We then awarded 800,000 new service-based restricted shares to our named executive officers. The new awards were accounted for as a modification and vest over four years, with one-third of the shares vesting on each of the second, third and fourth anniversaries of the date of grant. The modification resulted in incremental compensation expense of approximately $233,000 and will be amortized in accordance with the vesting schedule. The fair value of the 2015 unvested shares issued to employees was $712,000, or $0.89 per weighted-average share. The fair value of the 2015 unvested shares issued to directors was $125,000, or $1.08 per weighted-average share. The Company recorded $313,000 and $480,000 of stock-based compensation during the first nine months of 2015 and 2014, respectively, to salaries and employee benefits. We expect substantially all of the unvested shares outstanding at the end of the period to vest according to the vesting schedule. No deferred tax benefit was recognized related to this expense for either period. The following table summarizes unvested share activity as of and for the periods indicated for the Stock Incentive Plan: Nine Months Ended Twelve Months Ended September 30, 2015 December 31, 2014 Weighted Weighted Average Average Grant Grant Shares Price Shares Price Outstanding, beginning 770,440 $ 1.33 787,426 $ 1.56 Granted 800,000 0.89 122,220 0.93 Vested (165,185 ) 1.50 (133,227 ) 2.20 Terminated (450,994 ) 1.25 — — Forfeited (30,170 ) 1.12 (5,979 ) 4.21 Outstanding, ending 924,091 $ 0.96 770,440 $ 1.33 The following table summarizes unvested share activity as of and for the periods indicated for the Non-Employee Directors Stock Ownership Incentive Plan: Nine Months Ended Twelve Months Ended September 30, 2015 December 31, 2014 Weighted Weighted Average Average Grant Grant Shares Price Shares Price Outstanding, beginning 5,052 $ 1.65 47,428 $ 1.69 Granted 115,740 1.08 166,668 0.90 Vested (5,052 ) 1.65 (154,222 ) 0.98 Forfeited — — (54,822 ) 1.29 Outstanding, ending 115,740 $ 1.08 5,052 $ 1.65 Unrecognized stock based compensation expense related to unvested shares for the remainder of 2015 and beyond is estimated as follows (in thousands): October 2015 – December 2015 $ 132 2016 253 2017 156 2018 149 2019 & thereafter — |
Note 11 - Earnings (Loss) per S
Note 11 - Earnings (Loss) per Share | 9 Months Ended |
Sep. 30, 2015 | |
Earnings Per Share [Abstract] | |
Earnings Per Share [Text Block] | Note 11 – Earnings (Loss) per Share The factors used in the basic and diluted loss per share computations follow: Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 (in thousands, except share and per share data) Net loss $ (1,076 ) $ (849 ) $ (2,612 ) $ (7,370 ) Less: Preferred stock dividends — 786 — 2,361 Losses allocated to unvested shares (45 ) (122 ) (102 ) (685 ) Losses allocated to preferred — (40 ) (236 ) (243 ) Net loss attributable to common shareholders, basic and diluted $ (1,031 ) $ (1,473 ) $ (2,274 ) $ (8,803 ) Basic Weighted average common shares including unvested common shares outstanding 25,768,887 13,435,788 25,626,610 13,314,138 Less: Weighted average unvested common shares 1,087,340 1,016,051 1,002,867 936,386 Weighted average Series B preferred — — 890,901 — Weighted average Series C preferred — 332,894 — 332,894 Weighted average Series D preferred — — 1,419,341 — Weighted average common shares outstanding 24,681,547 12,086,843 22,313,501 12,044,858 Basic loss per common share $ (0.04 ) $ (0.12 ) $ (0.10 ) $ (0.73 ) Diluted Add: Dilutive effects of assumed exercises of common and Preferred Series C stock warrants — — — — Weighted average common shares and potential common shares 24,681,547 12,086,843 22,313,501 12,044,858 Diluted loss per common share $ (0.04 ) $ (0.12 ) $ (0.10 ) $ (0.73 ) The Company had no outstanding stock options at September 30, 2015 or 2014. A warrant for the purchase of 330,561 shares of the Company’s common stock at an exercise price of $15.88 was outstanding at September 30, 2015 and 2014 but was not included in the diluted EPS computation as inclusion would have been anti-dilutive. Additionally, warrants for the purchase of 1,449,459 shares of non-voting common stock at an exercise price of $10.95 per share were outstanding at September 30, 2014 but were not included in the diluted EPS computation as inclusion would have been anti-dilutive. A total of 798,915 warrants were cancelled in December 2014 in a non-cash equity exchange and 650,544 warrants expired in September 2015. |
Note 12 - Capital Requirements
Note 12 - Capital Requirements and Restrictions on Retained Earnings | 9 Months Ended |
Sep. 30, 2015 | |
Disclosure Text Block [Abstract] | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | Note 12 – Capital Requirements and Restrictions on Retained Earnings Banks and bank holding companies are subject to regulatory capital requirements administered by federal banking agencies. Capital adequacy guidelines and, additionally for banks, prompt corrective action regulations involve quantitative measures of assets, liabilities, and certain off-balance-sheet items calculated under regulatory accounting practices. Capital amounts and classifications are also subject to qualitative judgments by regulators. Failure to meet capital requirements can initiate regulatory action. The Basel III regulatory capital reforms became effective for the Company and Bank on January 1, 2015, and include new minimum risk-based capital and leverage ratios. These rules refine the definition of what constitutes “capital” for purposes of calculating those ratios, including the definitions of Tier 1 capital and Tier 2 capital. The final rules allowed banks and their holding companies with less than $250 billion in assets a one-time opportunity to opt-out of a requirement to include unrealized gains and losses in accumulated other comprehensive income in their capital calculation. The Company and the Bank opted out of this requirement. In its Consent Orders with the FDIC and the Kentucky Department of Financial Institutions, the Bank has agreed to maintain a minimum Tier 1 leverage ratio of 9% and a minimum total risk based capital ratio of 12%. The Consent orders are described in greater detail in Note 2 – “Going Concern and Future Plans”. As of September 30, 2015, the Bank’s Tier 1 leverage ratio and total risk based capital ratio were both less than the minimum capital ratios required by the Consent Order. The Bank cannot be considered well-capitalized while subject to the Consent Order. We are also restricted from accepting, renewing, or rolling-over brokered deposits without the prior receipt of a waiver on a case-by-case basis from our regulators. On September 21, 2011, we entered into a Written Agreement with the Federal Reserve Bank of St. Louis in which we made formal commitments to use our financial and management resources to serve as a source of strength for the Bank and to assist the Bank in addressing weaknesses identified by the FDIC and the KDFI, to pay no dividends without prior written approval, to pay no interest or principal on subordinated debentures or trust preferred securities without prior written approval, and to submit an acceptable plan to maintain sufficient capital. On September 30, 2015, we completed a common equity for debt exchange with holders of $4.0 million of the capital securities (the “Trust Securities”) of Porter Statutory Trust IV, a trust subsidiary of the Company. Accrued and unpaid interest on the Trust Securities totaled approximately $330,000. In exchange for the $4.3 million debt and interest liability, the Company issued 800,000 common shares and 400,000 non-voting common shares, for a total of 1,200,000 shares. In the transaction, a wholly owned subsidiary of the Company received a one-third portion of the Trust Securities directly from an unrelated third party in exchange for 400,000 common shares, resulting in an $883,000 gain on extinguishment of debt. The subsidiary also acquired two-thirds of the Trust Securities from related parties in exchange for 400,000 common shares and 400,000 non-voting common shares. The debt and interest liability exchanged with related parties was treated as a capital transaction. The following table shows the ratios and amounts of Common Equity Tier 1, Tier 1 capital and total capital to risk-adjusted assets and the leverage ratios for Porter Bancorp, Inc. and the Bank at the dates indicated (dollars in thousands): Actual For Capital Adequacy Purposes Amount Ratio Amount Ratio As of September 30, 2015: Total risk-based capital (to risk- weighted assets) Consolidated $ 69,354 10.40 % $ 53,324 8.00 % Bank 69,810 10.50 53,178 8.00 Total common equity Tier I risk-based capital (to risk- weighted assets) Consolidated 33,804 5.07 29,995 4.50 Bank 58,053 8.73 29,913 4.50 Tier I capital (to risk-weighted assets) Consolidated 45,719 6.86 39,993 6.00 Bank 58,053 8.73 39,883 6.00 Tier I capital (to average assets) Consolidated 45,719 4.73 38,676 4.00 Bank 58,053 6.01 38,625 4.00 Actual For Capital Adequacy Purposes Amount Ratio Amount Ratio As of December 31, 2014: Total risk-based capital (to risk- weighted assets) Consolidated $ 73,595 10.61 % $ 55,483 8.00 % Bank 73,174 10.57 55,383 8.00 Tier I capital (to risk-weighted assets) Consolidated 46,459 6.70 27,741 4.00 Bank 59,438 8.59 27,691 4.00 Tier I capital (to average assets) Consolidated 46,459 4.51 41,193 4.00 Bank 59,438 5.78 41,143 4.00 The Consent Order requires the Bank to achieve the minimum capital ratios presented below: Actual as of September 30, 2015 Ratio Required by Consent Order Amount Ratio Amount Ratio Total capital to risk-weighted assets $ 69,810 10.50 % $ 79,767 12.00 % Tier I capital to average assets 58,053 6.01 86,906 9.00 At September 30, 2015, the Bank’s Tier 1 leverage ratio was 6.01%, and its total risk-based capital ratio was 10.50%, which are below the 9% and 12% minimum capital ratios required by the Consent Order. Bank regulatory agencies can exercise discretion when an institution does not meet the terms of a Consent Order. Based on individual circumstances, the agencies may issue mandatory directives, impose monetary penalties, initiate changes in management, or take more serious adverse actions. Kentucky banking laws limit the amount of dividends that may be paid to a holding company by its subsidiary banks without prior approval. These laws limit the amount of dividends that may be paid in any calendar year to current year’s net income, as defined in the laws, combined with the retained net income of the preceding two years, less any dividends declared during those periods. The Bank has agreed with its primary regulators to obtain their written consent prior to declaring or paying any future dividends. As a practical matter, the Bank cannot pay dividends to the Company for the foreseeable future. |
Note 13 - Contingencies
Note 13 - Contingencies | 9 Months Ended |
Sep. 30, 2015 | |
Loss Contingency [Abstract] | |
Contingencies Disclosure [Text Block] | Note 13 – Contingencies We are defendants in various legal proceedings. Litigation is subject to inherent uncertainties and unfavorable rulings could occur. We record contingent liabilities resulting from claims against us when a loss is assessed to be probable and the amount of the loss is reasonably estimable. Assessing probability of loss and estimating probable losses requires analysis of multiple factors, including in some cases judgments about the potential actions of third party claimants and courts. Recorded contingent liabilities are based on the best information available and actual losses in any future period are inherently uncertain. Currently, we have accrued approximately $1.9 million related to ongoing litigation matters for which we believe liability is probable and reasonably estimable. Accruals are not made in cases where liability is not probable or the amount cannot be reasonably estimated. Aside from the amounts currently accrued, there is nothing that is reasonably probable. We disclose legal matters when we believe liability is reasonably possible and may be material to our consolidated financial statements. Signature Point Litigation. Signature Point Condominiums LLC, et al. v. PBI Bank, et al After conferring with its legal advisors, the Bank believes the findings and damages are excessive and contrary to law, and that it has meritorious grounds on which it has moved to appeal. The Bank’s Notice of Appeal was filed on October 25, 2013. After a number of procedural issues were resolved, the Bank filed its appellate brief on September 30, 2014. Appellee’s brief was filed on December 1, 2014. The Appellate Court will hear oral arguments on November 17, 2015. We will continue to defend this matter vigorously. Although we have made provisions in our consolidated financial statements for this self-insured matter, the amount of our legal accrual is less than the original amount of the damages awarded, plus accrued interest. The ultimate outcome of this matter could have a material adverse effect on our financial condition, results of operations or cash flows. SBAV LP Litigation. On December 17, 2012, SBAV LP filed a lawsuit against the Company, the Bank, J. Chester Porter and Maria L. Bouvette in New York state court. The proceeding was removed to New York federal district court on January 16, 2013, and on February 27, 2013, SBAV LP filed an Amended Complaint. On July 10, 2013, the New York federal district court granted the defendants’ motion to transfer the case to federal district court in Kentucky. SBAV LP v. Porter Bancorp, et. al., Miller ’ s Health System Inc. Employee Stock Ownership Plan. Thomas E. Perez, Secretary of the United States Department of Labor v. PBI Bank, Inc. AIT Laboratories Employee Stock Ownership Plan. Thomas E. Perez, Secretary of the United States Department of Labor v. PBI Bank, Inc. and Michael A. Evans United States Department of Justice Investigation. |
Accounting Policies, by Policy
Accounting Policies, by Policy (Policies) | 9 Months Ended |
Sep. 30, 2015 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, the financial statements do not include all of the information and footnotes required by U.S. generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the nine months ended September 30, 2015 are not necessarily indicative of the results that may be expected for the entire year. A description of other significant accounting policies is presented in the notes to the Consolidated Financial Statements for the year ended December 31, 2014 included in the Company’s Annual Report on Form 10-K. |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates |
Reclassification, Policy [Policy Text Block] | Reclassifications |
Note 3 - Securities (Tables)
Note 3 - Securities (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Investments, Debt and Equity Securities [Abstract] | |
Marketable Securities [Table Text Block] | Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (in thousands) September 30, 2015 Available for sale U.S. Government and federal agency $ 30,882 $ 212 $ (279 ) $ 30,815 Agency mortgage-backed: residential 104,642 1,637 (113 ) 106,166 State and municipal 6,595 328 (7 ) 6,916 Corporate bonds 2,316 6 (33 ) 2,289 Other debt securities 572 79 — 651 Total available for sale $ 145,007 $ 2,262 $ (432 ) $ 146,837 Amortized Cost Gross Unrecognized Gains Gross Unrecognized Losses Fair Value Held to maturity State and municipal $ 42,138 $ 2,106 $ — $ 44,244 Total held to maturity $ 42,138 $ 2,106 $ — $ 44,244 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value December 31, 2014 Available for sale U.S. Government and federal agency $ 35,725 $ 308 $ (590 ) $ 35,443 Agency mortgage-backed: residential 121,985 1,970 (357 ) 123,598 State and municipal 11,690 722 (8 ) 12,404 Corporate bonds 18,087 853 (252 ) 18,688 Other debt securities 572 86 — 658 Total available for sale $ 188,059 $ 3,939 $ (1,207 ) $ 190,791 Amortized Cost Gross Unrecognized Gains Gross Unrecognized Losses Fair Value Held to maturity State and municipal $ 42,325 $ 2,173 $ — $ 44,498 Total held to maturity $ 42,325 $ 2,173 $ — $ 44,498 |
Schedule of Realized Gain (Loss) [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 (in thousands) (in thousands) Proceeds $ 230 $ 4,147 $ 44,340 $ 4,151 Gross gains — 86 1,832 132 Gross losses — 40 136 40 |
Investments Classified by Contractual Maturity Date [Table Text Block] | September 30, 2015 Amortized Cost Fair Value (in thousands) Maturity Available for sale Within one year $ 5,821 $ 5,854 One to five years 8,532 8,882 Five to ten years 25,440 25,284 Beyond ten years 572 651 Agency mortgage-backed: residential 104,642 106,166 Total $ 145,007 $ 146,837 Held to maturity One to five years $ 15,644 $ 16,262 Five to ten years 22,937 24,208 Beyond ten years 3,557 3,774 Total $ 42,138 $ 44,244 |
Schedule of Unrealized Loss on Investments [Table Text Block] | Less than 12 Months 12 Months or More Total Description of Securities Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss (in thousands) September 30, 2015 Available for sale U.S. Government and federal agency $ 5,280 $ (12 ) $ 14,798 $ (267 ) $ 20,078 $ (279 ) Agency mortgage-backed: residential 6,071 (40 ) 4,014 (73 ) 10,085 (113 ) State and municipal 472 (7 ) — — 472 (7 ) Corporate bonds 1,519 (33 ) — — 1,519 (33 ) Total available for sale temporarily impaired $ 13,342 $ (92 ) $ 18,812 $ (340 ) $ 32,154 $ (432 ) Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss December 31, 2014 Available for sale U.S. Government and federal agency $ 7,778 $ (60 ) $ 18,681 $ (530 ) $ 26,459 $ (590 ) Agency mortgage-backed: residential 6,960 (12 ) 17,938 (345 ) 24,898 (357 ) State and municipal 569 (8 ) — — 569 (8 ) Corporate bonds 4,884 (119 ) 1,660 (133 ) 6,544 (252 ) Total temporarily impaired $ 20,191 $ (199 ) $ 38,279 $ (1,008 ) $ 58,470 $ (1,207 ) |
Note 4 - Loans (Tables)
Note 4 - Loans (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Receivables [Abstract] | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | September 30, December 31, 2015 2014 (in thousands) Commercial $ 84,908 $ 60,936 Commercial Real Estate: Construction 31,484 33,173 Farmland 76,670 77,419 Nonfarm nonresidential 145,899 175,452 Residential Real Estate: Multi-family 39,579 41,891 1-4 Family 204,309 197,278 Consumer 10,483 11,347 Agriculture 30,609 26,966 Other 473 537 Subtotal 624,414 624,999 Less: Allowance for loan losses (14,198 ) (19,364 ) Loans, net $ 610,216 $ 605,635 |
Allowance for Credit Losses on Financing Receivables [Table Text Block] | Commercial Commercial Real Estate Residential Real Estate Consumer Agriculture Other Total (in thousands) September 30, 2015: Beginning balance $ 1,946 $ 9,213 $ 5,060 $ 226 $ 359 $ 5 $ 16,809 Negative provision (180 ) (1,334 ) (489 ) (73 ) (120 ) (4 ) (2,200 ) Loans charged off (201 ) (768 ) (486 ) (70 ) (41 ) (14 ) (1,580 ) Recoveries 5 905 144 98 2 15 1,169 Ending balance $ 1,570 $ 8,016 $ 4,229 $ 181 $ 200 $ 2 $ 14,198 September 30, 2014: Beginning balance $ 3,115 $ 14,359 $ 6,873 $ 339 $ 435 $ 12 $ 25,133 Provision for loan losses (471 ) (336 ) 803 28 (8 ) (16 ) – Loans charged off (216 ) (742 ) (806 ) (59 ) – (1 ) (1,824 ) Recoveries 108 458 284 23 2 14 889 Ending balance $ 2,536 $ 13,739 $ 7,154 $ 331 $ 429 $ 9 $ 24,198 Commercial Commercial Real Estate Residential Real Estate Consumer Agriculture Other Total (in thousands) September 30, 2015: Beginning balance $ 2,046 $ 10,931 $ 5,787 $ 274 $ 319 $ 7 $ 19,364 Negative provision (207 ) (1,657 ) (269 ) (51 ) (13 ) (3 ) (2,200 ) Loans charged off (675 ) (2,361 ) (1,777 ) (200 ) (111 ) (47 ) (5,171 ) Recoveries 406 1,103 488 158 5 45 2,205 Ending balance $ 1,570 $ 8,016 $ 4,229 $ 181 $ 200 $ 2 $ 14,198 September 30, 2014: Beginning balance $ 3,221 $ 16,414 $ 7,762 $ 416 $ 305 $ 6 $ 28,124 Provision for loan losses (355 ) 4,611 1,897 19 143 (15 ) 6,300 Loans charged off (670 ) (9,110 ) (3,162 ) (238 ) (30 ) (19 ) (13,229 ) Recoveries 340 1,824 657 134 11 37 3,003 Ending balance $ 2,536 $ 13,739 $ 7,154 $ 331 $ 429 $ 9 $ 24,198 |
Impairment Evaluation of Financing Receivables [Table Text Block] | Commercial Commercial Real Estate Residential Real Estate Consumer Agriculture Other Total (in thousands) Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment - $ 65 $ 404 $ - $ - $ - $ 469 Collectively evaluated for impairment 1,570 7,951 3,825 181 200 2 13,729 Total ending allowance balance $ 1,570 $ 8,016 $ 4,229 $ 181 $ 200 $ 2 $ 14,198 Loans: Loans individually evaluated for impairment $ 1,330 $ 14,910 $ 18,478 $ 25 $ 152 $ - $ 34,895 Loans collectively evaluated for impairment 83,578 239,143 225,410 10,458 30,457 473 589,519 Total ending loans balance $ 84,908 $ 254,053 $ 243,888 $ 10,483 $ 30,609 $ 473 $ 624,414 Commercial Commercial Real Estate Residential Real Estate Consumer Agriculture Other Total (in thousands) Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 33 $ 491 $ 227 $ 1 $ - $ - $ 752 Collectively evaluated for impairment 2,013 10,440 5,560 273 319 7 18,612 Total ending allowance balance $ 2,046 $ 10,931 $ 5,787 $ 274 $ 319 $ 7 $ 19,364 Loans: Loans individually evaluated for impairment $ 2,022 $ 48,141 $ 21,384 $ 61 $ 263 $ 122 $ 71,993 Loans collectively evaluated for impairment 58,914 237,903 217,785 11,286 26,703 415 553,006 Total ending loans balance $ 60,936 $ 286,044 $ 239,169 $ 11,347 $ 26,966 $ 537 $ 624,999 |
Impaired Financing Receivables [Table Text Block] | As of September 30, 2015 Three Months Ended September 30, 2015 Nine Months Ended September 30, 2015 Unpaid Principal Balance Recorded Investment Allowance For Loan Losses Allocated Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized (in thousands) With No Related Allowance Recorded: Commercial $ 1,774 $ 1,330 $ — $ 1,439 $ — $ 1,630 $ 5 Commercial real estate: Construction 803 654 — 833 3 2,426 11 Farmland 6,521 4,164 — 4,305 34 4,555 60 Nonfarm nonresidential 13,837 9,403 — 13,347 65 18,133 202 Residential real estate: Multi-family 32 31 — 33 — 37 — 1-4 Family 15,204 12,426 — 13,163 96 14,040 340 Consumer 123 25 — 23 — 25 — Agriculture 260 152 — 191 — 219 — Other — — — — 1 61 5 Subtotal 38,554 28,185 — 33,334 199 41,126 623 With An Allowance Recorded: Commercial — — — 4 — 16 — Commercial real estate: Construction — — — — — — — Farmland — — — — — 79 — Nonfarm nonresidential 788 689 65 2,708 6 5,622 18 Residential real estate: Multi-family 4,212 4,212 65 4,216 51 4,237 153 1-4 Family 1,809 1,809 339 1,691 29 1,709 68 Consumer — — — — — 10 — Agriculture — — — — — — — Other — — — — — — — Subtotal 6,809 6,710 469 8,619 86 11,673 239 Total $ 45,363 $ 34,895 $ 469 $ 41,953 $ 285 $ 52,799 $ 862 As of December 31, 2014 Three Months Ended September 30, 2014 Nine Months Ended September 30, 2014 Unpaid Principal Balance Recorded Investment Allowance For Loan Losses Allocated Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized (in thousands) With No Related Allowance Recorded: Commercial $ 2,546 $ 1,978 $ — $ 1,972 $ — $ 2,325 $ 55 Commercial real estate: Construction 4,714 4,100 — 4,133 3 5,783 9 Farmland 6,636 4,739 — 5,684 26 6,503 74 Nonfarm nonresidential 34,437 22,418 — 30,395 128 44,211 586 Residential real estate: Multi-family 81 81 — 85 — 2,060 — 1-4 Family 18,496 15,266 — 19,987 150 24,520 567 Consumer 93 29 — 16 — 10 — Agriculture 276 263 — 249 — 280 3 Other 367 122 — 169 5 288 14 Subtotal 67,646 48,996 — 62,690 312 85,980 1,308 With An Allowance Recorded: Commercial 145 44 33 161 11 1,190 31 Commercial real estate: Construction — — — 355 5 736 16 Farmland 658 315 38 — — 62 — Nonfarm nonresidential 19,454 16,569 453 9,983 165 13,273 336 Residential real estate: Multi-family 4,266 4,266 91 4,274 52 4,467 128 1-4 Family 1,791 1,771 136 1,715 20 1,858 58 Consumer 32 32 1 41 1 53 2 Agriculture — — — — — — — Other — — — — — — — Subtotal 26,346 22,997 752 16,529 254 21,639 571 Total $ 93,992 $ 71,993 $ 752 $ 79,219 $ 566 $ 107,619 $ 1,879 |
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | TDRs Performing to Modified Terms TDRs Not Performing to Modified Terms Total TDRs (in thousands) September 30, 2015 Commercial Rate reduction $ — $ 68 $ 68 Principal deferral — 626 626 Commercial Real Estate: Construction Rate reduction 264 — 264 Farmland Principal deferral — 2,365 2,365 Nonfarm nonresidential Rate reduction 5,679 75 5,754 Principal deferral — 654 654 Residential Real Estate: Multi-family Rate reduction 4,212 — 4,212 1-4 Family Rate reduction 7,501 — 7,501 Total TDRs $ 17,656 $ 3,788 $ 21,444 TDRs Performing to Modified Terms TDRs Not Performing to Modified Terms Total TDRs (in thousands) December 31, 2014 Commercial Rate reduction $ 14 $ — $ 14 Principal deferral — 869 869 Commercial Real Estate: Construction Rate reduction 268 3,379 3,647 Farmland Principal deferral — 2,365 2,365 Other Rate reduction 8,622 13,894 22,516 Principal deferral 671 — 671 Residential Real Estate: Multi-family Rate reduction 4,266 — 4,266 1-4 Family Rate reduction 8,112 — 8,112 Consumer Rate reduction 32 — 32 Total TDRs $ 21,985 $ 20,507 $ 42,492 |
Schedule of Financing Receivables, Non Accrual Status [Table Text Block] | Nonaccrual Loans Past Due 90 Days And Over Still Accruing September 30, 2015 December 31, 2014 September 30, 2015 December 31, 2014 (in thousands) Commercial $ 1,330 $ 1,978 $ — $ — Commercial Real Estate: Construction 390 3,831 — — Farmland 4,164 5,054 — — Nonfarm nonresidential 4,412 26,892 — — Residential Real Estate: Multi-family 32 80 — — 1-4 Family 6,482 8,925 — 151 Consumer 25 30 — — Agriculture 152 263 — — Other — 122 — — Total $ 16,987 $ 47,175 $ — $ 151 |
Past Due Financing Receivables [Table Text Block] | 30 – 59 Days Past Due 60 – 89 Days Past Due 90 Days And Over Past Due Nonaccrual Total Past Due And Nonaccrual (in thousands) September 30, 2015 Commercial $ 18 $ 4 $ — $ 1,330 $ 1,352 Commercial Real Estate: Construction — — — 390 390 Farmland 407 7 — 4,164 4,578 Nonfarm nonresidential — 44 — 4,412 4,456 Residential Real Estate: Multi-family — — — 32 32 1-4 Family 1,527 523 — 6,482 8,532 Consumer 14 — — 25 39 Agriculture 6 — — 152 158 Total $ 1,972 $ 578 $ — $ 16,987 $ 19,537 30 – 59 Days Past Due 60 – 89 Days Past Due 90 Days And Over Past Due Nonaccrual Total Past Due And Nonaccrual (in thousands) December 31, 2014 Commercial $ 86 $ — $ — $ 1,978 $ 2,064 Commercial Real Estate: Construction — — — 3,831 3,831 Farmland 400 14 — 5,054 5,468 Nonfarm nonresidential 241 318 — 26,892 27,451 Residential Real Estate: Multi-family — — — 80 80 1-4 Family 3,124 601 151 8,925 12,801 Consumer 109 47 — 30 186 Agriculture — — — 263 263 Other — — — 122 122 Total $ 3,960 $ 980 $ 151 $ 47,175 $ 52,266 |
Financing Receivable Credit Quality Indicators [Table Text Block] | Pass Watch Special Mention Substandard Doubtful Total (in thousands) September 30, 2015 Commercial $ 75,683 $ 3,263 $ — $ 5,962 $ — $ 84,908 Commercial Real Estate: Construction 25,475 5,355 — 654 — 31,484 Farmland 65,831 4,299 — 6,540 — 76,670 Nonfarm nonresidential 111,725 23,161 1,339 9,674 — 145,899 Residential Real Estate: Multi-family 30,692 4,921 — 3,966 — 39,579 1-4 Family 165,313 18,736 68 20,192 — 204,309 Consumer 9,759 208 293 223 — 10,483 Agriculture 23,519 6,783 — 307 — 30,609 Other 473 — — — — 473 Total $ 508,470 $ 66,726 $ 1,700 $ 47,518 $ — $ 624,414 Pass Watch Special Mention Substandard Doubtful Total (in thousands) December 31, 2014 Commercial $ 49,440 $ 5,063 $ — $ 6,433 $ — $ 60,936 Commercial Real Estate: Construction 25,266 2,990 — 4,917 — 33,173 Farmland 61,672 7,922 — 7,825 — 77,419 Nonfarm nonresidential 111,426 21,017 3,747 39,262 — 175,452 Residential Real Estate: Multi-family 31,526 6,039 — 4,326 — 41,891 1-4 Family 145,450 23,928 131 27,769 — 197,278 Consumer 10,115 537 311 384 — 11,347 Agriculture 25,816 704 — 446 — 26,966 Other 415 — — 122 — 537 Total $ 461,126 $ 68,200 $ 4,189 $ 91,484 $ — $ 624,999 |
Note 5 - Other Real Estate Ow24
Note 5 - Other Real Estate Owned (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Disclosure Text Block [Abstract] | |
Schedule of Real Estate Properties [Table Text Block] | September 30, 2015 December 31, 2014 (in thousands) Commercial Real Estate: Construction, land development, and other land $ 14,749 $ 18,748 Farmland 34 669 Nonfarm nonresidential 12,059 14,860 Residential Real Estate: Multi-family — 4,988 1-4 Family 2,635 7,998 29,477 47,263 Valuation allowance (300 ) (1,066 ) $ 29,177 $ 46,197 |
Schedule of Valuation Allowance and Activity Related to Foreclosed Real Estate [Table Text Block] | For the Three Months Ended September 30, For the Nine Months Ended September 30, 2015 2014 2015 2014 (in thousands) (in thousands) OREO Valuation Allowance Activity: Beginning balance $ 307 $ 199 $ 1,066 $ 230 Provision to allowance 4,450 600 7,080 1,250 Write-downs (4,457 ) (268 ) (7,846 ) (949 ) Ending balance $ 300 $ 531 $ 300 $ 531 |
Schedule of Expenses Related to Foreclosed Real Estate [Table Text Block] | For the Nine Months Ended September 30, 2015 2014 (in thousands) OREO Activity OREO as of January 1 $ 46,197 $ 30,892 Real estate acquired 4,450 31,663 Valuation adjustment writedowns (7,080 ) (1,250 ) Gain/(loss) on sale 27 455 Proceeds from sale of properties (14,417 ) (7,253 ) OREO as of September 30 $ 29,177 $ 54,507 |
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 (in thousands) (in thousands) Net (gain) loss on sales $ 16 $ (401 ) $ (27 ) $ (455 ) Provision to allowance 4,450 600 7,080 1,250 Operating expense 665 361 1,743 1,201 Total $ 5,131 $ 560 $ 8,796 $ 1,996 |
Note 6 - Deposits (Tables)
Note 6 - Deposits (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Disclosure Text Block [Abstract] | |
Schedule of Deposits [Table Text Block] | September 30, 2015 December 31, 2014 (in thousands) Non-interest bearing $ 106,160 $ 114,910 Interest checking 83,247 91,086 Money market 119,324 109,734 Savings 35,131 36,430 Certificates of deposit 534,031 574,681 Total $ 877,893 $ 926,841 |
Schedule of Maturities of Time Deposits [Table Text Block] | Year 1 $ 330,881 Year 2 122,321 Year 3 9,500 Year 4 21,319 Year 5 50,010 Thereafter — $ 534,031 |
Note 7 - Advances from the Fe26
Note 7 - Advances from the Federal Home Loan Bank (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Disclosure Text Block [Abstract] | |
Schedule of Federal Home Loan Bank, Advances, by Branch of FHLB Bank [Table Text Block] | September 30, December 31, 2015 2014 (in thousands) Monthly amortizing advances with fixed rates from 0.00% to 5.25% and maturities ranging from 2017 through 2033, averaging 2.73% at September 30, 2015 and 1.02% at December 31, 2014 $ 3,255 $ 15,752 |
Note 8 - Fair Values Measurem27
Note 8 - Fair Values Measurement (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Table Text Block] | Fair Value Measurements at September 30, 2015 Using (in thousands) Description Carrying Value Quoted Prices In Significant Other Significant Inputs (Level 3) Available for sale securities U.S. Government and federal agency $ 30,815 $ — $ 30,815 $ — Agency mortgage-backed: residential 106,166 — 106,166 — State and municipal 6,916 — 6,916 — Corporate bonds 2,289 — 2,289 — Other debt securities 651 — — 651 Total $ 146,837 $ — $ 146,186 $ 651 Fair Value Measurements at December 31, 2014 Using (in thousands) Description Carrying Value Quoted Prices In Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Available for sale securities U.S. Government and federal agency $ 35,443 $ — $ 35,443 $ — Agency mortgage-backed: residential 123,598 — 123,598 — State and municipal 12,404 — 12,404 — Corporate bonds 18,688 — 18,688 — Other debt securities 658 — — 658 Total $ 190,791 $ — $ 190,133 $ 658 Fair Value Measurements at September 30, 2015 Using (in thousands) Carrying Value Quoted Prices In Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Description Impaired loans: Commercial $ — $ — $ — $ — Commercial real estate: Construction — — — — Farmland — — — — Nonfarm nonresidential 339 — — 339 Residential real estate: Multi-family — — — — 1-4 Family 1,470 — — 1,470 Consumer — — — — Other — — — — Other real estate owned, net: Commercial real estate: Construction 14,599 — — 14,599 Farmland 33 — — 33 Nonfarm nonresidential 11,937 — — 11,937 Residential real estate: Multi-family — — — — 1-4 Family 2,608 — — 2,608 Fair Value Measurements at December 31, 2014 Using (in thousands) Carrying Value Quoted Prices In Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Description Impaired loans: Commercial $ 12 $ — $ — $ 12 Commercial real estate: Construction — — — — Farmland 278 — — 278 Other 15,825 — — 15,825 Residential real estate: Multi-family — — — — 1-4 Family 1,635 — — 1,635 Consumer 31 — — 31 Other — — — — Other real estate owned, net: Commercial real estate: Construction 18,325 — — 18,325 Farmland 654 — — 654 Other 14,525 — — 14,525 Residential real estate: Multi-family 4,875 — — 4,875 1-4 Family 7,818 — — 7,818 |
Fairvalue Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Table Text Block] | Other Debt Securities 2015 2014 (in thousands) Balances of recurring Level 3 assets at January 1 $ 658 $ 632 Total gain (loss) for the period: Included in other comprehensive income (loss) (7 ) 26 Balance of recurring Level 3 assets at September 30 $ 651 $ 658 |
Fair Value Assets Measured on Nonrecurring Basis Unobservable Input Reconciliation [Table Text Block] | Fair Value Valuation Technique(s) Unobservable Input(s) Range (Weighted Average) (in thousands ) Impaired loans – Commercial real estate $ 339 Sales comparison approach Adjustment for differences between the comparable sales 5% - 16%(11%) Income approach Discount or capitalization rate 9% - 10%(9%) Impaired loans – Residential real estate $ 1,470 Sales comparison approach Adjustment for differences between the comparable sales 1% - 16%(7%) Other real estate owned – Commercial real estate $ 26,569 Sales comparison approach Adjustment for differences between the comparable sales 0% - 72%(21%) Income approach Discount or capitalization rate 9% - 20%(13%) Other real estate owned – Residential real estate $ 2,608 Sales comparison approach Adjustment for differences between the comparable sales 0% - 15%(8%) Fair Value Valuation Technique(s) Unobservable Input(s) Range (Weighted Average) (in thousands) Impaired loans – Commercial $ 12 Market value approach Adjustment for receivables and inventory discounts 16% - 32%(24%) Impaired loans – Commercial real estate $ 16,103 Sales comparison approach Adjustment for differences between the comparable sales 0% - 62%(14%) Income approach Discount or capitalization rate 8% - 9%(8%) Impaired loans – Residential real estate $ 1,635 Sales comparison approach Adjustment for differences between the comparable sales 0% - 39%(11%) Other real estate owned – Commercial real estate $ 33,504 Sales comparison approach Adjustment for differences between the comparable sales 0% - 45%(18%) Income approach Discount or capitalization rate 9% - 20%(13%) Other real estate owned – Residential real estate $ 12,693 Sales comparison approach Adjustment for differences between the comparable sales 0% - 15%(6%) |
Fair Value, by Balance Sheet Grouping [Table Text Block] | Fair Value Measurements at September 30, 2015 Using Carrying Amount Level 1 Level 2 Level 3 Total (in thousands) Financial assets Cash and cash equivalents $ 80,480 $ 68,257 $ 12,223 $ — $ 80,480 Securities available for sale 146,837 — 146,186 651 146,837 Securities held to maturity 42,138 — 44,244 — 44,244 Federal Home Loan Bank stock 7,323 N/A N/A N/A N/A Loans held for sale 71 — 71 — 71 Loans, net 610,216 — — 620,807 620,807 Accrued interest receivable 3,291 — 1,052 2,239 3,291 Financial liabilities Deposits $ 877,893 $ 106,160 $ 766,831 $ — $ 872,991 Securities sold under agreements to repurchase — — — — — Federal Home Loan Bank advances 3,255 — 3,263 — 3,263 Subordinated capital notes 4,275 — — 4,142 4,142 Junior subordinated debentures 21,000 — — 12,638 12,638 Accrued interest payable 2,851 — 530 2,321 2,851 Fair Value Measurements at December 31, 2014 Using Carrying Amount Level 1 Level 2 Level 3 Total (in thousands) Financial assets Cash and cash equivalents $ 80,180 $ 49,007 $ 31,173 $ — $ 80,180 Securities available for sale 190,791 — 190,133 658 190,791 Securities held to maturity 42,325 — 44,498 — 44,498 Federal Home Loan Bank stock 7,323 N/A N/A N/A N/A Loans held for sale 8,926 — 8,926 — 8,926 Loans, net 605,635 — — 615,914 615,914 Accrued interest receivable 3,503 — 1,389 2,114 3,503 Financial liabilities Deposits $ 926,841 $ 114,910 $ 804,508 $ — $ 919,418 Securities sold under agreements to repurchase 1,341 — 1,341 — 1,341 Federal Home Loan Bank advances 15,752 — 15,758 — 15,758 Subordinated capital notes 4,950 — — 4,765 4,765 Junior subordinated debentures 25,000 — — 14,214 14,214 Accrued interest payable 2,858 — 751 2,107 2,858 |
Note 9 - Income Taxes (Tables)
Note 9 - Income Taxes (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Income Tax Disclosure [Abstract] | |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | September 30, December 31, 2015 2014 (in thousands) Deferred tax assets: Net operating loss carry-forward $ 35,788 $ 32,111 Allowance for loan losses 4,969 6,777 Other real estate owned write-down 9,647 10,000 Alternative minimum tax credit carry-forward 692 692 Net assets from acquisitions 671 668 Other than temporary impairment on securities 46 46 New market tax credit carry-forward 208 208 Nonaccrual loan interest 607 958 Amortization of non-compete agreements 12 14 Other 1,674 1,701 54,314 53,175 Deferred tax liabilities: FHLB stock dividends 928 928 Fixed assets 225 264 Originated mortgage servicing rights 37 53 Net unrealized gain on securities 297 579 Other 669 703 2,156 2,527 Net deferred tax assets before valuation allowance 52,158 50,648 Valuation allowance (52,158 ) (50,648 ) Net deferred tax asset $ — $ — |
Note 10 - Stock Plans and Sto29
Note 10 - Stock Plans and Stock Based Compensation (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Schedule of Nonvested Share Activity [Table Text Block] | Nine Months Ended Twelve Months Ended September 30, 2015 December 31, 2014 Weighted Weighted Average Average Grant Grant Shares Price Shares Price Outstanding, beginning 770,440 $ 1.33 787,426 $ 1.56 Granted 800,000 0.89 122,220 0.93 Vested (165,185 ) 1.50 (133,227 ) 2.20 Terminated (450,994 ) 1.25 — — Forfeited (30,170 ) 1.12 (5,979 ) 4.21 Outstanding, ending 924,091 $ 0.96 770,440 $ 1.33 |
Schedule of Share-based Compensation, Nonemployee Director Stock Award Plan, Activity [Table Text Block] | Nine Months Ended Twelve Months Ended September 30, 2015 December 31, 2014 Weighted Weighted Average Average Grant Grant Shares Price Shares Price Outstanding, beginning 5,052 $ 1.65 47,428 $ 1.69 Granted 115,740 1.08 166,668 0.90 Vested (5,052 ) 1.65 (154,222 ) 0.98 Forfeited — — (54,822 ) 1.29 Outstanding, ending 115,740 $ 1.08 5,052 $ 1.65 |
Schedule of Unrecognized Compensation Cost, Nonvested Awards [Table Text Block] | October 2015 – December 2015 $ 132 2016 253 2017 156 2018 149 2019 & thereafter — |
Note 11 - Earnings (Loss) per30
Note 11 - Earnings (Loss) per Share (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 (in thousands, except share and per share data) Net loss $ (1,076 ) $ (849 ) $ (2,612 ) $ (7,370 ) Less: Preferred stock dividends — 786 — 2,361 Losses allocated to unvested shares (45 ) (122 ) (102 ) (685 ) Losses allocated to preferred — (40 ) (236 ) (243 ) Net loss attributable to common shareholders, basic and diluted $ (1,031 ) $ (1,473 ) $ (2,274 ) $ (8,803 ) Basic Weighted average common shares including unvested common shares outstanding 25,768,887 13,435,788 25,626,610 13,314,138 Less: Weighted average unvested common shares 1,087,340 1,016,051 1,002,867 936,386 Weighted average Series B preferred — — 890,901 — Weighted average Series C preferred — 332,894 — 332,894 Weighted average Series D preferred — — 1,419,341 — Weighted average common shares outstanding 24,681,547 12,086,843 22,313,501 12,044,858 Basic loss per common share $ (0.04 ) $ (0.12 ) $ (0.10 ) $ (0.73 ) Diluted Add: Dilutive effects of assumed exercises of common and Preferred Series C stock warrants — — — — Weighted average common shares and potential common shares 24,681,547 12,086,843 22,313,501 12,044,858 Diluted loss per common share $ (0.04 ) $ (0.12 ) $ (0.10 ) $ (0.73 ) |
Note 12 - Capital Requirement31
Note 12 - Capital Requirements and Restrictions on Retained Earnings (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Disclosure Text Block [Abstract] | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | Actual For Capital Adequacy Purposes Amount Ratio Amount Ratio As of September 30, 2015: Total risk-based capital (to risk- weighted assets) Consolidated $ 69,354 10.40 % $ 53,324 8.00 % Bank 69,810 10.50 53,178 8.00 Total common equity Tier I risk-based capital (to risk- weighted assets) Consolidated 33,804 5.07 29,995 4.50 Bank 58,053 8.73 29,913 4.50 Tier I capital (to risk-weighted assets) Consolidated 45,719 6.86 39,993 6.00 Bank 58,053 8.73 39,883 6.00 Tier I capital (to average assets) Consolidated 45,719 4.73 38,676 4.00 Bank 58,053 6.01 38,625 4.00 Actual For Capital Adequacy Purposes Amount Ratio Amount Ratio As of December 31, 2014: Total risk-based capital (to risk- weighted assets) Consolidated $ 73,595 10.61 % $ 55,483 8.00 % Bank 73,174 10.57 55,383 8.00 Tier I capital (to risk-weighted assets) Consolidated 46,459 6.70 27,741 4.00 Bank 59,438 8.59 27,691 4.00 Tier I capital (to average assets) Consolidated 46,459 4.51 41,193 4.00 Bank 59,438 5.78 41,143 4.00 |
Banker's Acceptance Disclosures [Table Text Block] | Actual as of September 30, 2015 Ratio Required by Consent Order Amount Ratio Amount Ratio Total capital to risk-weighted assets $ 69,810 10.50 % $ 79,767 12.00 % Tier I capital to average assets 58,053 6.01 86,906 9.00 |
Note 1 - Basis of Presentatio32
Note 1 - Basis of Presentation and Summary of Significant Accounting Policies (Details) | Sep. 30, 2015 |
Disclosure Text Block [Abstract] | |
Noncontrolling Interest, Ownership Percentage by Parent | 100.00% |
Note 2 - Going Concern Consid33
Note 2 - Going Concern Considerations and Future Plans (Details) - USD ($) | Sep. 30, 2015 | Sep. 30, 2015 | Sep. 30, 2014 | Jun. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2016 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2010 |
Note 2 - Going Concern Considerations and Future Plans (Details) [Line Items] | ||||||||||
Net Income (Loss) Available to Common Stockholders, Basic | $ (1,031,000) | $ (1,473,000) | $ (2,274,000) | $ (8,803,000) | $ 19,400,000 | $ (3,400,000) | ||||
Provision for Loan and Lease Losses | (2,200,000) | $ 6,300,000 | (2,200,000) | 6,300,000 | 7,100,000 | |||||
Net Income (Loss) Attributable to Parent | (1,076,000) | (849,000) | (2,612,000) | (7,370,000) | (11,200,000) | |||||
Foreclosed Real Estate Expense | 5,131,000 | 560,000 | 8,796,000 | 1,996,000 | 5,800,000 | |||||
Loan Collection Expense | 321,000 | 858,000 | 895,000 | 2,646,000 | 3,000,000 | |||||
Redeemable Preferred Stock Accretion and Dividend | 2,400,000 | |||||||||
Other Preferred Stock Dividends and Adjustments | (45,000) | (162,000) | (338,000) | (928,000) | (3,200,000) | |||||
Preferred Stock Conversions, Inducements | 36,100,000 | |||||||||
Loans and Leases Receivable, Gross | $ 624,414,000 | $ 624,414,000 | $ 624,414,000 | $ 624,999,000 | $ 1,300,000,000 | |||||
Maximum Ratio of Loans to Total Risk Based Capital | 75.00% | 75.00% | 75.00% | |||||||
Ratio of Loans to Total Risk Based Capital | 221.00% | 221.00% | 221.00% | 262.00% | ||||||
SEC Schedule III, Real Estate, Other Acquisitions | $ 4,500,000 | $ 32,300,000 | $ 20,600,000 | |||||||
Financing Receivable, Recorded Investment, Nonaccrual Status | $ 16,987,000 | $ 16,987,000 | 16,987,000 | 47,175,000 | ||||||
Impairment of Real Estate | 7,080,000 | 1,250,000 | ||||||||
Other Real Estate, Period Increase (Decrease) | (27,000) | |||||||||
Proceeds from Sale of Other Real Estate | 14,400,000 | 7,300,000 | ||||||||
Real Estate Held-for-sale | 6,500,000 | 6,500,000 | 6,500,000 | $ 6,500,000 | ||||||
Cash | 1,200,000 | 1,200,000 | 1,200,000 | |||||||
Debt Conversion, Original Debt, Principal Amount | 4,000,000 | |||||||||
Debt Conversion, Original Debt, Interest Amount | 330,000 | |||||||||
Debt Conversion, Original Debt, Amount | 4,300,000 | 4,330,000 | ||||||||
Gains (Losses) on Extinguishment of Debt | 883,000 | 883,000 | ||||||||
Series E Preferred Stock and Series F Preferred Stock [Member] | ||||||||||
Note 2 - Going Concern Considerations and Future Plans (Details) [Line Items] | ||||||||||
Preferred Stock, Liquidation Preference, Value | $ 10,500,000 | $ 10,500,000 | $ 10,500,000 | |||||||
Construction Loans [Member] | ||||||||||
Note 2 - Going Concern Considerations and Future Plans (Details) [Line Items] | ||||||||||
Percentage of Real Estate Owned | 50.00% | 50.00% | 50.00% | 40.00% | ||||||
One- to Four-family Residential Properties [Member] | ||||||||||
Note 2 - Going Concern Considerations and Future Plans (Details) [Line Items] | ||||||||||
Percentage of Real Estate Owned | 9.00% | 9.00% | 9.00% | 17.00% | ||||||
Nonperforming Financial Instruments [Member] | ||||||||||
Note 2 - Going Concern Considerations and Future Plans (Details) [Line Items] | ||||||||||
Increase (Decrease) in Finance Receivables | $ 13,200,000 | $ 30,200,000 | ||||||||
Finance Receivables, Decrease Percentage | 43.80% | 64.00% | ||||||||
Commercial Real Estate Portfolio Segment [Member] | ||||||||||
Note 2 - Going Concern Considerations and Future Plans (Details) [Line Items] | ||||||||||
Provision for Loan and Lease Losses | $ (1,334,000) | (336,000) | $ (1,657,000) | 4,611,000 | ||||||
Loans and Leases Receivable, Gross | $ 254,053,000 | $ 254,053,000 | $ 254,053,000 | $ 286,044,000 | ||||||
Percentage of Real Estate Owned | 41.00% | 41.00% | 41.00% | 31.00% | ||||||
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||||||||||
Note 2 - Going Concern Considerations and Future Plans (Details) [Line Items] | ||||||||||
Loans and Leases Receivable, Gross | $ 31,484,000 | $ 31,484,000 | $ 31,484,000 | $ 33,173,000 | ||||||
Financing Receivable, Recorded Investment, Nonaccrual Status | 390,000 | 390,000 | 390,000 | 3,831,000 | ||||||
Substandard [Member] | ||||||||||
Note 2 - Going Concern Considerations and Future Plans (Details) [Line Items] | ||||||||||
Increase (Decrease) in Finance Receivables | $ (21,500,000) | $ 44,000,000 | ||||||||
Finance Receivables, Decrease Percentage | 31.20% | 48.00% | ||||||||
Allowance for Loan and Lease Losses Write-offs, Net | $ 411,000 | $ 1,800,000 | $ 3,000,000 | $ 10,200,000 | ||||||
Loans and Leases Receivable, Gross | 47,518,000 | 47,518,000 | 47,518,000 | 91,484,000 | ||||||
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||||||||||
Note 2 - Going Concern Considerations and Future Plans (Details) [Line Items] | ||||||||||
Loans and Leases Receivable, Gross | $ 654,000 | $ 654,000 | $ 654,000 | $ 4,917,000 | ||||||
Parent [Member] | Scenario, Forecast [Member] | ||||||||||
Note 2 - Going Concern Considerations and Future Plans (Details) [Line Items] | ||||||||||
Operating Expenses | $ 1,000,000 | |||||||||
Common Stock [Member] | ||||||||||
Note 2 - Going Concern Considerations and Future Plans (Details) [Line Items] | ||||||||||
Debt Conversion, Converted Instrument, Shares Issued (in Shares) | 1,200,000 | 1,200,000 | ||||||||
Common Stock [Member] | Voting Common Stock [Member] | ||||||||||
Note 2 - Going Concern Considerations and Future Plans (Details) [Line Items] | ||||||||||
Debt Conversion, Converted Instrument, Shares Issued (in Shares) | 800,000 | 800,000 | ||||||||
Common Stock [Member] | Nonvoting Common Stock [Member] | ||||||||||
Note 2 - Going Concern Considerations and Future Plans (Details) [Line Items] | ||||||||||
Debt Conversion, Converted Instrument, Shares Issued (in Shares) | 400,000 | 400,000 | ||||||||
PBI Bank [Member] | ||||||||||
Note 2 - Going Concern Considerations and Future Plans (Details) [Line Items] | ||||||||||
Tier One Leverage Capital Required to be Well Capitalized to Average Assets | 9.00% | 9.00% | 9.00% | |||||||
Capital Required to be Well Capitalized to Risk Weighted Assets | 12.00% | 12.00% | 12.00% | |||||||
Subsidiaries [Member] | ||||||||||
Note 2 - Going Concern Considerations and Future Plans (Details) [Line Items] | ||||||||||
Gains (Losses) on Extinguishment of Debt | $ 883,000 | |||||||||
Subsidiaries [Member] | Common Stock [Member] | Unrelated Third Party [Member] | Voting Common Stock [Member] | ||||||||||
Note 2 - Going Concern Considerations and Future Plans (Details) [Line Items] | ||||||||||
Debt Conversion, Converted Instrument, Shares Issued (in Shares) | 400,000 | |||||||||
Subsidiaries [Member] | Common Stock [Member] | Related Party [Member] | Voting Common Stock [Member] | ||||||||||
Note 2 - Going Concern Considerations and Future Plans (Details) [Line Items] | ||||||||||
Debt Conversion, Converted Instrument, Shares Issued (in Shares) | 400,000 | |||||||||
Subsidiaries [Member] | Common Stock [Member] | Related Party [Member] | Nonvoting Common Stock [Member] | ||||||||||
Note 2 - Going Concern Considerations and Future Plans (Details) [Line Items] | ||||||||||
Debt Conversion, Converted Instrument, Shares Issued (in Shares) | 400,000 | |||||||||
Junior Subordinated Debt [Member] | ||||||||||
Note 2 - Going Concern Considerations and Future Plans (Details) [Line Items] | ||||||||||
Number of Consecutive Quarterly Periods to Defer Interest Payments Without Default or Penalty | 20 | 20 | 20 | |||||||
Dividends Payable | $ 2,300,000 | $ 2,300,000 | $ 2,300,000 |
Note 3 - Securities (Details)
Note 3 - Securities (Details) | Sep. 30, 2015USD ($) | Dec. 31, 2014USD ($) |
Note 3 - Securities (Details) [Line Items] | ||
Available-for-sale Securities Pledged as Collateral | $ 51,600,000 | $ 80,800,000 |
Available-for-sale Securities | $ 146,837,000 | $ 190,791,000 |
Concentration Risk, Number | 0 | 0 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Accumulated Loss | $ 0 | $ 0 |
KENTUCKY | ||
Note 3 - Securities (Details) [Line Items] | ||
Available-for-sale Securities | 17,700,000 | 19,100,000 |
TEXAS | ||
Note 3 - Securities (Details) [Line Items] | ||
Available-for-sale Securities | $ 4,300,000 | $ 4,400,000 |
Note 3 - Securities (Details) -
Note 3 - Securities (Details) - Amortized Cost, Gross Unrealized Gains or Losses, and Fair Value of Investment Securities - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Available for sale | ||
Available for sale securities, amortized cost | $ 145,007 | $ 188,059 |
Available for sale securities, gross unrealized gains | 2,262 | 3,939 |
Available for sale securities, gross unrealized losses | (432) | (1,207) |
Securities available for sale | 146,837 | 190,791 |
Held to maturity | ||
Held to maturity securities, amortized cost | 42,138 | 42,325 |
Held to maturity securities, gross unrealized gains | 2,106 | 2,173 |
Held to maturity securities, fair value | 44,244 | 44,498 |
US Treasury and Government [Member] | ||
Available for sale | ||
Available for sale securities, amortized cost | 30,882 | 35,725 |
Available for sale securities, gross unrealized gains | 212 | 308 |
Available for sale securities, gross unrealized losses | (279) | (590) |
Securities available for sale | 30,815 | 35,443 |
Residential Mortgage Backed Securities [Member] | ||
Available for sale | ||
Available for sale securities, amortized cost | 104,642 | 121,985 |
Available for sale securities, gross unrealized gains | 1,637 | 1,970 |
Available for sale securities, gross unrealized losses | (113) | (357) |
Securities available for sale | 106,166 | 123,598 |
US States and Political Subdivisions Debt Securities [Member] | ||
Available for sale | ||
Available for sale securities, amortized cost | 6,595 | 11,690 |
Available for sale securities, gross unrealized gains | 328 | 722 |
Available for sale securities, gross unrealized losses | (7) | (8) |
Securities available for sale | 6,916 | 12,404 |
Held to maturity | ||
Held to maturity securities, amortized cost | 42,138 | 42,325 |
Held to maturity securities, gross unrealized gains | 2,106 | 2,173 |
Held to maturity securities, fair value | 44,244 | 44,498 |
Corporate Debt Securities [Member] | ||
Available for sale | ||
Available for sale securities, amortized cost | 2,316 | 18,087 |
Available for sale securities, gross unrealized gains | 6 | 853 |
Available for sale securities, gross unrealized losses | (33) | (252) |
Securities available for sale | 2,289 | 18,688 |
Other Debt Obligations [Member] | ||
Available for sale | ||
Available for sale securities, amortized cost | 572 | 572 |
Available for sale securities, gross unrealized gains | 79 | 86 |
Securities available for sale | $ 651 | $ 658 |
Note 3 - Securities (Details)36
Note 3 - Securities (Details) - Sales and Calls of Available for Sale Securities - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Sales and Calls of Available for Sale Securities [Abstract] | ||||
Proceeds | $ 230 | $ 4,147 | $ 44,340 | $ 4,151 |
Gross gains | 86 | 1,832 | 132 | |
Gross losses | $ 40 | $ 136 | $ 40 |
Note 3 - Securities (Details)37
Note 3 - Securities (Details) - Amortized Cost and Fair Value of Debt Investment Securities Portfolio by Contractual Maturity - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Available for sale | ||
Within one year | $ 5,821 | |
Within one year | 5,854 | |
One to five years | 8,532 | |
One to five years | 8,882 | |
Five to ten years | 25,440 | |
Five to ten years | 25,284 | |
Beyond ten years | 572 | |
Beyond ten years | 651 | |
Agency mortgage-backed: residential | 104,642 | |
Agency mortgage-backed: residential | 106,166 | |
Total | 145,007 | |
Total | 146,837 | |
Held to maturity | ||
One to five years | 15,644 | |
One to five years | 16,262 | |
Five to ten years | 22,937 | |
Five to ten years | 24,208 | |
Beyond ten years | 3,557 | |
Beyond ten years | 3,774 | |
Total | 42,138 | $ 42,325 |
Total | $ 44,244 | $ 44,498 |
Note 3 - Securities (Details)38
Note 3 - Securities (Details) - Securities with Unrealized Losses - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Available for sale | ||
Available for sale, fair value, less than 12 months | $ 13,342 | $ 20,191 |
Available for sale, unrealized loss, less than 12 months | (92) | (199) |
Available for sale, fair value, 12 months or more | 18,812 | 38,279 |
Available for sale, unrealized loss, 12 months or more | (340) | (1,008) |
Available for sale, fair value | 32,154 | 58,470 |
Available for sale, unrealized loss | (432) | (1,207) |
US Treasury and Government [Member] | ||
Available for sale | ||
Available for sale, fair value, less than 12 months | 5,280 | 7,778 |
Available for sale, unrealized loss, less than 12 months | (12) | (60) |
Available for sale, fair value, 12 months or more | 14,798 | 18,681 |
Available for sale, unrealized loss, 12 months or more | (267) | (530) |
Available for sale, fair value | 20,078 | 26,459 |
Available for sale, unrealized loss | (279) | (590) |
Residential Mortgage Backed Securities [Member] | ||
Available for sale | ||
Available for sale, fair value, less than 12 months | 6,071 | 6,960 |
Available for sale, unrealized loss, less than 12 months | (40) | (12) |
Available for sale, fair value, 12 months or more | 4,014 | 17,938 |
Available for sale, unrealized loss, 12 months or more | (73) | (345) |
Available for sale, fair value | 10,085 | 24,898 |
Available for sale, unrealized loss | (113) | (357) |
US States and Political Subdivisions Debt Securities [Member] | ||
Available for sale | ||
Available for sale, fair value, less than 12 months | 472 | 569 |
Available for sale, unrealized loss, less than 12 months | (7) | (8) |
Available for sale, fair value, 12 months or more | 0 | 0 |
Available for sale, unrealized loss, 12 months or more | 0 | 0 |
Available for sale, fair value | 472 | 569 |
Available for sale, unrealized loss | (7) | (8) |
Corporate Debt Securities [Member] | ||
Available for sale | ||
Available for sale, fair value, less than 12 months | 1,519 | 4,884 |
Available for sale, unrealized loss, less than 12 months | (33) | (119) |
Available for sale, fair value, 12 months or more | 0 | 1,660 |
Available for sale, unrealized loss, 12 months or more | 0 | (133) |
Available for sale, fair value | 1,519 | 6,544 |
Available for sale, unrealized loss | $ (33) | $ (252) |
Note 4 - Loans (Details)
Note 4 - Loans (Details) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2015USD ($) | Sep. 30, 2014USD ($) | Sep. 30, 2015USD ($) | Sep. 30, 2014USD ($) | Dec. 31, 2014USD ($) | |
Receivables [Abstract] | |||||
Impaired Financing Receivable, Interest Income, Cash Basis Method | $ 47,000 | $ 58,000 | $ 149,000 | $ 480,000 | |
Financing Receivable, Modifications, Percentage of Performing TDR's to Total TDR's | 83.00% | 83.00% | 52.00% | ||
Troubled Debt Restructuring Reserve | $ 198,000 | $ 198,000 | $ 579,000 | ||
Loans and Leases Receivable, Impaired, Commitment to Lend | $ 0 | $ 0 | $ 0 | ||
Financing Receivable, Modifications, Number of Contracts | 0 | 0 | 0 | 0 | |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 0 | 0 | |||
Minimum Outstanding Balance for Loans to Be Qualified for Credit Risk Analysis | $ 500,000 | $ 500,000 |
Note 4 - Loans (Details) - Loan
Note 4 - Loans (Details) - Loans - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 | Dec. 31, 2010 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Gross loans | $ 624,414 | $ 624,999 | $ 1,300,000 |
Less: Allowance for loan losses | (14,198) | (19,364) | |
Loans, net | 610,216 | 605,635 | |
Commercial Portfolio Segment [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Gross loans | 84,908 | 60,936 | |
Less: Allowance for loan losses | (1,570) | (2,046) | |
Commercial Real Estate Portfolio Segment [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Gross loans | 254,053 | 286,044 | |
Less: Allowance for loan losses | (8,016) | (10,931) | |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Gross loans | 31,484 | 33,173 | |
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Gross loans | 76,670 | 77,419 | |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Gross loans | 145,899 | 175,452 | |
Residential Portfolio Segment [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Gross loans | 243,888 | 239,169 | |
Less: Allowance for loan losses | (4,229) | (5,787) | |
Residential Portfolio Segment [Member] | Multifamily Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Gross loans | 39,579 | 41,891 | |
Residential Portfolio Segment [Member] | One- to Four-family Residential Properties [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Gross loans | 204,309 | 197,278 | |
Consumer Portfolio Segment [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Gross loans | 10,483 | 11,347 | |
Less: Allowance for loan losses | (181) | (274) | |
Agriculture Portfolio Segment [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Gross loans | 30,609 | 26,966 | |
Less: Allowance for loan losses | (200) | (319) | |
Other Portfolio Segment [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Gross loans | 473 | 537 | |
Less: Allowance for loan losses | $ (2) | $ (7) |
Note 4 - Loans (Details) - Acti
Note 4 - Loans (Details) - Activity in Allowance for Loan Losses by Portfolio Segment - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2015 | Sep. 30, 2014 | Jun. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Beginning balance | $ 16,809 | $ 25,133 | $ 19,364 | $ 28,124 | $ 28,124 | |
Provision for loan losses | (2,200) | $ 6,300 | (2,200) | 6,300 | 7,100 | |
Loans charged off | (1,580) | (1,824) | (5,171) | (13,229) | ||
Recoveries | 1,169 | 889 | 2,205 | 3,003 | ||
Ending balance | 14,198 | 24,198 | 25,133 | 14,198 | 24,198 | 19,364 |
Commercial Portfolio Segment [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Beginning balance | 1,946 | 3,115 | 2,046 | 3,221 | 3,221 | |
Provision for loan losses | (180) | (471) | (207) | (355) | ||
Loans charged off | (201) | (216) | (675) | (670) | ||
Recoveries | 5 | 108 | 406 | 340 | ||
Ending balance | 1,570 | 2,536 | 3,115 | 1,570 | 2,536 | 2,046 |
Commercial Real Estate Portfolio Segment [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Beginning balance | 9,213 | 14,359 | 10,931 | 16,414 | 16,414 | |
Provision for loan losses | (1,334) | (336) | (1,657) | 4,611 | ||
Loans charged off | (768) | (742) | (2,361) | (9,110) | ||
Recoveries | 905 | 458 | 1,103 | 1,824 | ||
Ending balance | 8,016 | 13,739 | 14,359 | 8,016 | 13,739 | 10,931 |
Residential Portfolio Segment [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Beginning balance | 5,060 | 6,873 | 5,787 | 7,762 | 7,762 | |
Provision for loan losses | (489) | 803 | (269) | 1,897 | ||
Loans charged off | (486) | (806) | (1,777) | (3,162) | ||
Recoveries | 144 | 284 | 488 | 657 | ||
Ending balance | 4,229 | 7,154 | 6,873 | 4,229 | 7,154 | 5,787 |
Consumer Portfolio Segment [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Beginning balance | 226 | 339 | 274 | 416 | 416 | |
Provision for loan losses | (73) | 28 | (51) | 19 | ||
Loans charged off | (70) | (59) | (200) | (238) | ||
Recoveries | 98 | 23 | 158 | 134 | ||
Ending balance | 181 | 331 | 339 | 181 | 331 | 274 |
Agriculture Portfolio Segment [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Beginning balance | 359 | 435 | 319 | 305 | 305 | |
Provision for loan losses | (120) | (8) | (13) | 143 | ||
Loans charged off | (41) | (111) | (30) | |||
Recoveries | 2 | 2 | 5 | 11 | ||
Ending balance | 200 | 429 | 435 | 200 | 429 | 319 |
Other Portfolio Segment [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Beginning balance | 5 | 12 | 7 | 6 | 6 | |
Provision for loan losses | (4) | (16) | (3) | (15) | ||
Loans charged off | (14) | (1) | (47) | (19) | ||
Recoveries | 15 | 14 | 45 | 37 | ||
Ending balance | $ 2 | $ 9 | $ 12 | $ 2 | $ 9 | $ 7 |
Note 4 - Loans (Details) - Bala
Note 4 - Loans (Details) - Balance in Allowance for Loan Losses and Recorded Investment in Loans by Portfolio Segment and Bases on Impairment Method - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 | Dec. 31, 2010 |
Ending allowance balance attributable to loans: | |||
Individually evaluated for impairment | $ 469 | $ 752 | |
Collectively evaluated for impairment | 13,729 | 18,612 | |
Total ending allowance balance | 14,198 | 19,364 | |
Loans: | |||
Loans individually evaluated for impairment | 34,895 | 71,993 | |
Loans collectively evaluated for impairment | 589,519 | 553,006 | |
Total ending loans balance | 624,414 | 624,999 | $ 1,300,000 |
Commercial Portfolio Segment [Member] | |||
Ending allowance balance attributable to loans: | |||
Individually evaluated for impairment | 0 | 33 | |
Collectively evaluated for impairment | 1,570 | 2,013 | |
Total ending allowance balance | 1,570 | 2,046 | |
Loans: | |||
Loans individually evaluated for impairment | 1,330 | 2,022 | |
Loans collectively evaluated for impairment | 83,578 | 58,914 | |
Total ending loans balance | 84,908 | 60,936 | |
Commercial Real Estate Portfolio Segment [Member] | |||
Ending allowance balance attributable to loans: | |||
Individually evaluated for impairment | 65 | 491 | |
Collectively evaluated for impairment | 7,951 | 10,440 | |
Total ending allowance balance | 8,016 | 10,931 | |
Loans: | |||
Loans individually evaluated for impairment | 14,910 | 48,141 | |
Loans collectively evaluated for impairment | 239,143 | 237,903 | |
Total ending loans balance | 254,053 | 286,044 | |
Residential Portfolio Segment [Member] | |||
Ending allowance balance attributable to loans: | |||
Individually evaluated for impairment | 404 | 227 | |
Collectively evaluated for impairment | 3,825 | 5,560 | |
Total ending allowance balance | 4,229 | 5,787 | |
Loans: | |||
Loans individually evaluated for impairment | 18,478 | 21,384 | |
Loans collectively evaluated for impairment | 225,410 | 217,785 | |
Total ending loans balance | 243,888 | 239,169 | |
Consumer Portfolio Segment [Member] | |||
Ending allowance balance attributable to loans: | |||
Individually evaluated for impairment | 0 | 1 | |
Collectively evaluated for impairment | 181 | 273 | |
Total ending allowance balance | 181 | 274 | |
Loans: | |||
Loans individually evaluated for impairment | 25 | 61 | |
Loans collectively evaluated for impairment | 10,458 | 11,286 | |
Total ending loans balance | 10,483 | 11,347 | |
Agriculture Portfolio Segment [Member] | |||
Ending allowance balance attributable to loans: | |||
Individually evaluated for impairment | 0 | 0 | |
Collectively evaluated for impairment | 200 | 319 | |
Total ending allowance balance | 200 | 319 | |
Loans: | |||
Loans individually evaluated for impairment | 152 | 263 | |
Loans collectively evaluated for impairment | 30,457 | 26,703 | |
Total ending loans balance | 30,609 | 26,966 | |
Other Portfolio Segment [Member] | |||
Ending allowance balance attributable to loans: | |||
Individually evaluated for impairment | 0 | 0 | |
Collectively evaluated for impairment | 2 | 7 | |
Total ending allowance balance | 2 | 7 | |
Loans: | |||
Loans individually evaluated for impairment | 0 | 122 | |
Loans collectively evaluated for impairment | 473 | 415 | |
Total ending loans balance | $ 473 | $ 537 |
Note 4 - Loans (Details) - Lo43
Note 4 - Loans (Details) - Loans Individually Evaluated for Impairment by Class of Loans - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | |
With No Related Allowance Recorded: | |||||
Unpaid Principal Balance-with no related allowance | $ 38,554 | $ 38,554 | $ 67,646 | ||
Recorded investment-with no related allowance | 28,185 | 28,185 | 48,996 | ||
Average recorded investment-with no related allowance | 33,334 | $ 62,690 | 41,126 | $ 85,980 | |
Interest income recognized-with no related allowance | 199 | 312 | 623 | 1,308 | |
With An Allowance Recorded: | |||||
Unpaid Principal Balance-with an allowance recorded | 6,809 | 6,809 | 26,346 | ||
Recorded investment-with an allowance recorded | 6,710 | 8,900 | 6,710 | 8,900 | 22,997 |
Allowance for loan losses allocated-with an allowance recorded | 469 | 469 | 752 | ||
Average recorded investment-with an allowance recorded | 8,619 | 16,529 | 11,673 | 21,639 | |
Interest income recognized-with an allowance recorded | 86 | 254 | 239 | 571 | |
Commercial real estate: | |||||
Total | 45,363 | 45,363 | 93,992 | ||
Total | 34,895 | 34,895 | 71,993 | ||
Total | 469 | 469 | 752 | ||
Total | 41,953 | 79,219 | 52,799 | 107,619 | |
Total | 285 | 566 | 862 | 1,879 | |
Commercial Portfolio Segment [Member] | |||||
With No Related Allowance Recorded: | |||||
Unpaid Principal Balance-with no related allowance | 1,774 | 1,774 | 2,546 | ||
Recorded investment-with no related allowance | 1,330 | 1,330 | 1,978 | ||
Average recorded investment-with no related allowance | 1,439 | 1,972 | 1,630 | 2,325 | |
Interest income recognized-with no related allowance | 5 | 55 | |||
With An Allowance Recorded: | |||||
Unpaid Principal Balance-with an allowance recorded | 145 | ||||
Recorded investment-with an allowance recorded | 44 | ||||
Allowance for loan losses allocated-with an allowance recorded | 33 | ||||
Average recorded investment-with an allowance recorded | 4 | 161 | 16 | 1,190 | |
Interest income recognized-with an allowance recorded | 11 | 31 | |||
Commercial real estate: | |||||
Total | 33 | ||||
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||||
With No Related Allowance Recorded: | |||||
Unpaid Principal Balance-with no related allowance | 803 | 803 | 4,714 | ||
Recorded investment-with no related allowance | 654 | 654 | 4,100 | ||
Average recorded investment-with no related allowance | 833 | 4,133 | 2,426 | 5,783 | |
Interest income recognized-with no related allowance | 3 | 3 | 11 | 9 | |
With An Allowance Recorded: | |||||
Average recorded investment-with an allowance recorded | 355 | 736 | |||
Interest income recognized-with an allowance recorded | 5 | 16 | |||
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | |||||
With No Related Allowance Recorded: | |||||
Unpaid Principal Balance-with no related allowance | 6,521 | 6,521 | 6,636 | ||
Recorded investment-with no related allowance | 4,164 | 4,164 | 4,739 | ||
Average recorded investment-with no related allowance | 4,305 | 5,684 | 4,555 | 6,503 | |
Interest income recognized-with no related allowance | 34 | 26 | 60 | 74 | |
With An Allowance Recorded: | |||||
Unpaid Principal Balance-with an allowance recorded | 658 | ||||
Recorded investment-with an allowance recorded | 315 | ||||
Allowance for loan losses allocated-with an allowance recorded | 38 | ||||
Average recorded investment-with an allowance recorded | 79 | 62 | |||
Commercial real estate: | |||||
Total | 38 | ||||
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | |||||
With No Related Allowance Recorded: | |||||
Unpaid Principal Balance-with no related allowance | 13,837 | 13,837 | 34,437 | ||
Recorded investment-with no related allowance | 9,403 | 9,403 | 22,418 | ||
Average recorded investment-with no related allowance | 13,347 | 30,395 | 18,133 | 44,211 | |
Interest income recognized-with no related allowance | 65 | 128 | 202 | 586 | |
With An Allowance Recorded: | |||||
Unpaid Principal Balance-with an allowance recorded | 788 | 788 | 19,454 | ||
Recorded investment-with an allowance recorded | 689 | 689 | 16,569 | ||
Allowance for loan losses allocated-with an allowance recorded | 65 | 65 | 453 | ||
Average recorded investment-with an allowance recorded | 2,708 | 9,983 | 5,622 | 13,273 | |
Interest income recognized-with an allowance recorded | 6 | 165 | 18 | 336 | |
Commercial real estate: | |||||
Total | 65 | 65 | 453 | ||
Residential Portfolio Segment [Member] | Multifamily Loans [Member] | |||||
With No Related Allowance Recorded: | |||||
Unpaid Principal Balance-with no related allowance | 32 | 32 | 81 | ||
Recorded investment-with no related allowance | 31 | 31 | 81 | ||
Average recorded investment-with no related allowance | 33 | 85 | 37 | 2,060 | |
With An Allowance Recorded: | |||||
Unpaid Principal Balance-with an allowance recorded | 4,212 | 4,212 | 4,266 | ||
Recorded investment-with an allowance recorded | 4,212 | 4,212 | 4,266 | ||
Allowance for loan losses allocated-with an allowance recorded | 65 | 65 | 91 | ||
Average recorded investment-with an allowance recorded | 4,216 | 4,274 | 4,237 | 4,467 | |
Interest income recognized-with an allowance recorded | 51 | 52 | 153 | 128 | |
Commercial real estate: | |||||
Total | 65 | 65 | 91 | ||
Residential Portfolio Segment [Member] | One- to Four-family Residential Properties [Member] | |||||
With No Related Allowance Recorded: | |||||
Unpaid Principal Balance-with no related allowance | 15,204 | 15,204 | 18,496 | ||
Recorded investment-with no related allowance | 12,426 | 12,426 | 15,266 | ||
Average recorded investment-with no related allowance | 13,163 | 19,987 | 14,040 | 24,520 | |
Interest income recognized-with no related allowance | 96 | 150 | 340 | 567 | |
With An Allowance Recorded: | |||||
Unpaid Principal Balance-with an allowance recorded | 1,809 | 1,809 | 1,791 | ||
Recorded investment-with an allowance recorded | 1,809 | 1,809 | 1,771 | ||
Allowance for loan losses allocated-with an allowance recorded | 339 | 339 | 136 | ||
Average recorded investment-with an allowance recorded | 1,691 | 1,715 | 1,709 | 1,858 | |
Interest income recognized-with an allowance recorded | 29 | 20 | 68 | 58 | |
Commercial real estate: | |||||
Total | 339 | 339 | 136 | ||
Consumer Portfolio Segment [Member] | |||||
With No Related Allowance Recorded: | |||||
Unpaid Principal Balance-with no related allowance | 123 | 123 | 93 | ||
Recorded investment-with no related allowance | 25 | 25 | 29 | ||
Average recorded investment-with no related allowance | 23 | 16 | 25 | 10 | |
With An Allowance Recorded: | |||||
Unpaid Principal Balance-with an allowance recorded | 32 | ||||
Recorded investment-with an allowance recorded | 32 | ||||
Allowance for loan losses allocated-with an allowance recorded | 1 | ||||
Average recorded investment-with an allowance recorded | 41 | 10 | 53 | ||
Interest income recognized-with an allowance recorded | 1 | 2 | |||
Commercial real estate: | |||||
Total | 1 | ||||
Agriculture Portfolio Segment [Member] | |||||
With No Related Allowance Recorded: | |||||
Unpaid Principal Balance-with no related allowance | 260 | 260 | 276 | ||
Recorded investment-with no related allowance | 152 | 152 | 263 | ||
Average recorded investment-with no related allowance | 191 | 249 | 219 | 280 | |
Interest income recognized-with no related allowance | 3 | ||||
Other Portfolio Segment [Member] | |||||
With No Related Allowance Recorded: | |||||
Unpaid Principal Balance-with no related allowance | 367 | ||||
Recorded investment-with no related allowance | $ 122 | ||||
Average recorded investment-with no related allowance | 169 | 61 | 288 | ||
Interest income recognized-with no related allowance | $ 1 | $ 5 | $ 5 | $ 14 |
Note 4 - Loans (Details) - Type
Note 4 - Loans (Details) - Types of Troubled Debt Restructuring Loan Modification by Portfolio Segment - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Multi-family | ||
Troubled Debt Restructuring | $ 21,444 | $ 42,492 |
Performing Financial Instruments [Member] | ||
Multi-family | ||
Troubled Debt Restructuring | 17,656 | 21,985 |
Performing Financial Instruments [Member] | Contractual Interest Rate Reduction [Member] | ||
Multi-family | ||
Troubled Debt Restructuring | 8,622 | |
Performing Financial Instruments [Member] | Payment Deferral [Member] | ||
Multi-family | ||
Troubled Debt Restructuring | 671 | |
Nonperforming Financial Instruments [Member] | ||
Multi-family | ||
Troubled Debt Restructuring | 3,788 | 20,507 |
Nonperforming Financial Instruments [Member] | Contractual Interest Rate Reduction [Member] | ||
Multi-family | ||
Troubled Debt Restructuring | 13,894 | |
Other Portfolio Segment [Member] | Contractual Interest Rate Reduction [Member] | ||
Multi-family | ||
Troubled Debt Restructuring | 22,516 | |
Other Portfolio Segment [Member] | Payment Deferral [Member] | ||
Multi-family | ||
Troubled Debt Restructuring | 671 | |
Commercial Portfolio Segment [Member] | Contractual Interest Rate Reduction [Member] | ||
Multi-family | ||
Troubled Debt Restructuring | 68 | 14 |
Commercial Portfolio Segment [Member] | Payment Deferral [Member] | ||
Multi-family | ||
Troubled Debt Restructuring | 626 | 869 |
Commercial Portfolio Segment [Member] | Performing Financial Instruments [Member] | Contractual Interest Rate Reduction [Member] | ||
Multi-family | ||
Troubled Debt Restructuring | 14 | |
Commercial Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Contractual Interest Rate Reduction [Member] | ||
Multi-family | ||
Troubled Debt Restructuring | 68 | |
Commercial Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Payment Deferral [Member] | ||
Multi-family | ||
Troubled Debt Restructuring | 626 | 869 |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Contractual Interest Rate Reduction [Member] | ||
Multi-family | ||
Troubled Debt Restructuring | 264 | 3,647 |
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | Payment Deferral [Member] | ||
Multi-family | ||
Troubled Debt Restructuring | 2,365 | 2,365 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | Contractual Interest Rate Reduction [Member] | ||
Multi-family | ||
Troubled Debt Restructuring | 5,754 | |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | Payment Deferral [Member] | ||
Multi-family | ||
Troubled Debt Restructuring | 654 | |
Commercial Real Estate Portfolio Segment [Member] | Performing Financial Instruments [Member] | Construction Loans [Member] | Contractual Interest Rate Reduction [Member] | ||
Multi-family | ||
Troubled Debt Restructuring | 264 | 268 |
Commercial Real Estate Portfolio Segment [Member] | Performing Financial Instruments [Member] | Nonfarm Nonresidential [Member] | Contractual Interest Rate Reduction [Member] | ||
Multi-family | ||
Troubled Debt Restructuring | 5,679 | |
Commercial Real Estate Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Construction Loans [Member] | Contractual Interest Rate Reduction [Member] | ||
Multi-family | ||
Troubled Debt Restructuring | 3,379 | |
Commercial Real Estate Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Farmland Loans [Member] | Payment Deferral [Member] | ||
Multi-family | ||
Troubled Debt Restructuring | 2,365 | 2,365 |
Commercial Real Estate Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Nonfarm Nonresidential [Member] | Contractual Interest Rate Reduction [Member] | ||
Multi-family | ||
Troubled Debt Restructuring | 75 | |
Commercial Real Estate Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Nonfarm Nonresidential [Member] | Payment Deferral [Member] | ||
Multi-family | ||
Troubled Debt Restructuring | 654 | |
Residential Portfolio Segment [Member] | Multifamily Loans [Member] | Contractual Interest Rate Reduction [Member] | ||
Multi-family | ||
Troubled Debt Restructuring | 4,212 | 4,266 |
Residential Portfolio Segment [Member] | One- to Four-family Residential Properties [Member] | Contractual Interest Rate Reduction [Member] | ||
Multi-family | ||
Troubled Debt Restructuring | 7,501 | 8,112 |
Residential Portfolio Segment [Member] | Performing Financial Instruments [Member] | Multifamily Loans [Member] | Contractual Interest Rate Reduction [Member] | ||
Multi-family | ||
Troubled Debt Restructuring | 4,212 | 4,266 |
Residential Portfolio Segment [Member] | Performing Financial Instruments [Member] | One- to Four-family Residential Properties [Member] | Contractual Interest Rate Reduction [Member] | ||
Multi-family | ||
Troubled Debt Restructuring | $ 7,501 | 8,112 |
Consumer Portfolio Segment [Member] | Contractual Interest Rate Reduction [Member] | ||
Multi-family | ||
Troubled Debt Restructuring | 32 | |
Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | Contractual Interest Rate Reduction [Member] | ||
Multi-family | ||
Troubled Debt Restructuring | $ 32 |
Note 4 - Loans (Details) - Reco
Note 4 - Loans (Details) - Recorded Investment in Nonaccrual and Loans Past due 90 Days and Still on Accrual by Class of Loan - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Note 4 - Loans (Details) - Recorded Investment in Nonaccrual and Loans Past due 90 Days and Still on Accrual by Class of Loan [Line Items] | ||
Nonaccrual | $ 16,987 | $ 47,175 |
Loans Past Due 90 Day and Over Still Accruing | 151 | |
Commercial Portfolio Segment [Member] | ||
Note 4 - Loans (Details) - Recorded Investment in Nonaccrual and Loans Past due 90 Days and Still on Accrual by Class of Loan [Line Items] | ||
Nonaccrual | 1,330 | 1,978 |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Note 4 - Loans (Details) - Recorded Investment in Nonaccrual and Loans Past due 90 Days and Still on Accrual by Class of Loan [Line Items] | ||
Nonaccrual | 390 | 3,831 |
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | ||
Note 4 - Loans (Details) - Recorded Investment in Nonaccrual and Loans Past due 90 Days and Still on Accrual by Class of Loan [Line Items] | ||
Nonaccrual | 4,164 | 5,054 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | ||
Note 4 - Loans (Details) - Recorded Investment in Nonaccrual and Loans Past due 90 Days and Still on Accrual by Class of Loan [Line Items] | ||
Nonaccrual | 4,412 | 26,892 |
Residential Portfolio Segment [Member] | Multifamily Loans [Member] | ||
Note 4 - Loans (Details) - Recorded Investment in Nonaccrual and Loans Past due 90 Days and Still on Accrual by Class of Loan [Line Items] | ||
Nonaccrual | 32 | 80 |
Residential Portfolio Segment [Member] | One- to Four-family Residential Properties [Member] | ||
Note 4 - Loans (Details) - Recorded Investment in Nonaccrual and Loans Past due 90 Days and Still on Accrual by Class of Loan [Line Items] | ||
Nonaccrual | 6,482 | 8,925 |
Loans Past Due 90 Day and Over Still Accruing | 151 | |
Consumer Portfolio Segment [Member] | ||
Note 4 - Loans (Details) - Recorded Investment in Nonaccrual and Loans Past due 90 Days and Still on Accrual by Class of Loan [Line Items] | ||
Nonaccrual | 25 | 30 |
Agriculture Portfolio Segment [Member] | ||
Note 4 - Loans (Details) - Recorded Investment in Nonaccrual and Loans Past due 90 Days and Still on Accrual by Class of Loan [Line Items] | ||
Nonaccrual | $ 152 | 263 |
Other Portfolio Segment [Member] | ||
Note 4 - Loans (Details) - Recorded Investment in Nonaccrual and Loans Past due 90 Days and Still on Accrual by Class of Loan [Line Items] | ||
Nonaccrual | $ 122 |
Note 4 - Loans (Details) - Agin
Note 4 - Loans (Details) - Aging of Recorded Investment in Past Due Loans - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Noaccrual | $ 16,987 | $ 47,175 |
Total past due and nonaccrual | 19,537 | 52,266 |
Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due | 1,972 | 3,960 |
Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due | 578 | 980 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due | 151 | |
Commercial Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Noaccrual | 1,330 | 1,978 |
Total past due and nonaccrual | 1,352 | 2,064 |
Commercial Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due | 18 | 86 |
Commercial Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due | 4 | |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Noaccrual | 390 | 3,831 |
Total past due and nonaccrual | 390 | 3,831 |
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Noaccrual | 4,164 | 5,054 |
Total past due and nonaccrual | 4,578 | 5,468 |
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due | 407 | 400 |
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due | 7 | 14 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Noaccrual | 4,412 | 26,892 |
Total past due and nonaccrual | 4,456 | 27,451 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due | 241 | |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due | 44 | 318 |
Residential Portfolio Segment [Member] | Multifamily Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Noaccrual | 32 | 80 |
Total past due and nonaccrual | 32 | 80 |
Residential Portfolio Segment [Member] | One- to Four-family Residential Properties [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Noaccrual | 6,482 | 8,925 |
Total past due and nonaccrual | 8,532 | 12,801 |
Residential Portfolio Segment [Member] | One- to Four-family Residential Properties [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due | 1,527 | 3,124 |
Residential Portfolio Segment [Member] | One- to Four-family Residential Properties [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due | 523 | 601 |
Residential Portfolio Segment [Member] | One- to Four-family Residential Properties [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due | 151 | |
Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Noaccrual | 25 | 30 |
Total past due and nonaccrual | 39 | 186 |
Consumer Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due | 14 | 109 |
Consumer Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due | 47 | |
Agriculture Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Noaccrual | 152 | 263 |
Total past due and nonaccrual | 158 | 263 |
Agriculture Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due | $ 6 | |
Other Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Noaccrual | 122 | |
Total past due and nonaccrual | $ 122 |
Note 4 - Loans (Details) - Risk
Note 4 - Loans (Details) - Risk Category of Loans by Class of Loans - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 | Dec. 31, 2010 |
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans | $ 624,414 | $ 624,999 | $ 1,300,000 |
Pass [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans | 508,470 | 461,126 | |
Watch [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans | 66,726 | 68,200 | |
Special Mention [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans | 1,700 | 4,189 | |
Substandard [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans | 47,518 | 91,484 | |
Commercial Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans | 84,908 | 60,936 | |
Commercial Portfolio Segment [Member] | Pass [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans | 75,683 | 49,440 | |
Commercial Portfolio Segment [Member] | Watch [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans | 3,263 | 5,063 | |
Commercial Portfolio Segment [Member] | Substandard [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans | 5,962 | 6,433 | |
Commercial Real Estate Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans | 254,053 | 286,044 | |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans | 31,484 | 33,173 | |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Pass [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans | 25,475 | 25,266 | |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Watch [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans | 5,355 | 2,990 | |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Substandard [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans | 654 | 4,917 | |
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans | 76,670 | 77,419 | |
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | Pass [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans | 65,831 | 61,672 | |
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | Watch [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans | 4,299 | 7,922 | |
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | Substandard [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans | 6,540 | 7,825 | |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans | 145,899 | 175,452 | |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | Pass [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans | 111,725 | 111,426 | |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | Watch [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans | 23,161 | 21,017 | |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | Special Mention [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans | 1,339 | 3,747 | |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | Substandard [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans | 9,674 | 39,262 | |
Residential Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans | 243,888 | 239,169 | |
Residential Portfolio Segment [Member] | Multifamily Loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans | 39,579 | 41,891 | |
Residential Portfolio Segment [Member] | Multifamily Loans [Member] | Pass [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans | 30,692 | 31,526 | |
Residential Portfolio Segment [Member] | Multifamily Loans [Member] | Watch [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans | 4,921 | 6,039 | |
Residential Portfolio Segment [Member] | Multifamily Loans [Member] | Substandard [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans | 3,966 | 4,326 | |
Residential Portfolio Segment [Member] | One- to Four-family Residential Properties [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans | 204,309 | 197,278 | |
Residential Portfolio Segment [Member] | One- to Four-family Residential Properties [Member] | Pass [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans | 165,313 | 145,450 | |
Residential Portfolio Segment [Member] | One- to Four-family Residential Properties [Member] | Watch [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans | 18,736 | 23,928 | |
Residential Portfolio Segment [Member] | One- to Four-family Residential Properties [Member] | Special Mention [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans | 68 | 131 | |
Residential Portfolio Segment [Member] | One- to Four-family Residential Properties [Member] | Substandard [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans | 20,192 | 27,769 | |
Consumer Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans | 10,483 | 11,347 | |
Consumer Portfolio Segment [Member] | Pass [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans | 9,759 | 10,115 | |
Consumer Portfolio Segment [Member] | Watch [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans | 208 | 537 | |
Consumer Portfolio Segment [Member] | Special Mention [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans | 293 | 311 | |
Consumer Portfolio Segment [Member] | Substandard [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans | 223 | 384 | |
Agriculture Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans | 30,609 | 26,966 | |
Agriculture Portfolio Segment [Member] | Pass [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans | 23,519 | 25,816 | |
Agriculture Portfolio Segment [Member] | Watch [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans | 6,783 | 704 | |
Agriculture Portfolio Segment [Member] | Substandard [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans | 307 | 446 | |
Other Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans | 473 | 537 | |
Other Portfolio Segment [Member] | Pass [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans | $ 473 | 415 | |
Other Portfolio Segment [Member] | Substandard [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans | $ 122 |
Note 5 - Other Real Estate Ow48
Note 5 - Other Real Estate Owned (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 |
Note 5 - Other Real Estate Owned (Details) [Line Items] | ||
Real Estate Held-for-sale | $ 6.5 | $ 6.5 |
One- to Four-family Residential Properties [Member] | ||
Note 5 - Other Real Estate Owned (Details) [Line Items] | ||
Mortgage Loans in Process of Foreclosure, Amount | $ 1.6 | $ 3.6 |
Note 5 - Other Real Estate Ow49
Note 5 - Other Real Estate Owned (Details) - Major Categories of OREO - USD ($) $ in Thousands | Sep. 30, 2015 | Jun. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 |
Real Estate Properties [Line Items] | ||||||
Valuation allowance | $ (300) | $ (307) | $ (1,066) | $ (531) | $ (199) | $ (230) |
29,177 | 46,197 | $ 54,507 | $ 30,892 | |||
Commercial Real Estate Portfolio Segment [Member] | Construction, Land Development, and Other Land Loans [Member] | ||||||
Real Estate Properties [Line Items] | ||||||
Other real estate owned, gross | 14,749 | 18,748 | ||||
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | ||||||
Real Estate Properties [Line Items] | ||||||
Other real estate owned, gross | 34 | 669 | ||||
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | ||||||
Real Estate Properties [Line Items] | ||||||
Other real estate owned, gross | 12,059 | 14,860 | ||||
Residential Portfolio Segment [Member] | ||||||
Real Estate Properties [Line Items] | ||||||
Other real estate owned, gross | 29,477 | 47,263 | ||||
Residential Portfolio Segment [Member] | Multifamily Loans [Member] | ||||||
Real Estate Properties [Line Items] | ||||||
Other real estate owned, gross | 4,988 | |||||
Residential Portfolio Segment [Member] | One- to Four-family Residential Properties [Member] | ||||||
Real Estate Properties [Line Items] | ||||||
Other real estate owned, gross | $ 2,635 | $ 7,998 |
Note 5 - Other Real Estate Ow50
Note 5 - Other Real Estate Owned (Details) - OREO Valuation Allowance Activity - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
OREO Valuation Allowance Activity: | ||||
Beginning balance | $ 307 | $ 199 | $ 1,066 | $ 230 |
Provision to allowance | 4,450 | 600 | 7,080 | 1,250 |
Write-downs | (4,457) | (268) | (7,846) | (949) |
Ending balance | $ 300 | $ 531 | $ 300 | $ 531 |
Note 5 - Other Real Estate Ow51
Note 5 - Other Real Estate Owned (Details) - Activity Relating to Other Real Estate Owned - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
OREO Activity | ||||
OREO | $ 46,197 | $ 30,892 | ||
Real estate acquired | 4,450 | 31,663 | ||
Valuation adjustment writedowns | $ (4,450) | $ (600) | (7,080) | (1,250) |
Gain/(loss) on sale | (16) | 401 | 27 | 455 |
Proceeds from sale of properties | (14,417) | (7,253) | ||
OREO | $ 29,177 | $ 54,507 | $ 29,177 | $ 54,507 |
Note 5 - Other Real Estate Ow52
Note 5 - Other Real Estate Owned (Details) - Expenses Related to Other Real Estate Owned - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | |
Expenses Related to Other Real Estate Owned [Abstract] | |||||
Net (gain) loss on sales | $ 16 | $ (401) | $ (27) | $ (455) | |
Provision to allowance | 4,450 | 600 | 7,080 | 1,250 | |
Operating expense | 665 | 361 | 1,743 | 1,201 | |
Total | $ 5,131 | $ 560 | $ 8,796 | $ 1,996 | $ 5,800 |
Note 6 - Deposits (Details)
Note 6 - Deposits (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 |
Disclosure Text Block [Abstract] | ||
Time Deposits, $250,000 or More | $ 33 | $ 34.4 |
Note 6 - Deposits (Details) - D
Note 6 - Deposits (Details) - Deposit Balances by Category - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Deposit Balances by Category [Abstract] | ||
Non-interest bearing | $ 106,160 | $ 114,910 |
Interest checking | 83,247 | 91,086 |
Money market | 119,324 | 109,734 |
Savings | 35,131 | 36,430 |
Certificates of deposit | 534,031 | 574,681 |
Total | $ 877,893 | $ 926,841 |
Note 6 - Deposits (Details) - M
Note 6 - Deposits (Details) - Maturities of Time Deposits $ in Thousands | Sep. 30, 2015USD ($) |
Maturities of Time Deposits [Abstract] | |
Year 1 | $ 330,881 |
Year 2 | 122,321 |
Year 3 | 9,500 |
Year 4 | 21,319 |
Year 5 | 50,010 |
Thereafter | 0 |
$ 534,031 |
Note 7 - Advances from the Fe56
Note 7 - Advances from the Federal Home Loan Bank (Details) - USD ($) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2015 | Dec. 31, 2014 | |
Note 7 - Advances from the Federal Home Loan Bank (Details) [Line Items] | ||
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Repayment and Penalties | $ 0 | $ 0 |
Federal Home Loan Bank, Advances, General Debt Obligations, Maximum Amount Available | $ 25,700,000 | |
Maximum [Member] | ||
Note 7 - Advances from the Federal Home Loan Bank (Details) [Line Items] | ||
Debt Instrument, Term | 1 year |
Note 7 - Advances from the Fe57
Note 7 - Advances from the Federal Home Loan Bank (Details) - Advances from the Federal Home Loan Bank - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Advances from the Federal Home Loan Bank [Abstract] | ||
Monthly amortizing advances with fixed rates from 0.00% to 5.25% and maturities ranging from 2017 through 2033, averaging 2.73% at September 30, 2015 and 1.02% at December 31, 2014 | $ 3,255 | $ 15,752 |
Note 7 - Advances from the Fe58
Note 7 - Advances from the Federal Home Loan Bank (Details) - Advances from the Federal Home Loan Bank (Parentheticals) | 9 Months Ended | |
Sep. 30, 2015 | Dec. 31, 2014 | |
Advances from the Federal Home Loan Bank [Abstract] | ||
Advances from FHLB, lowest fixed rate | 0.00% | |
Advances from FHLB, highest fixed rate | 5.25% | |
Advances from FHLB, earliest maturity | 2,017 | |
Advances from FHLB, latest maturity | 2,033 | |
Advances from FHLB, average interest rate | 2.73% | 1.02% |
Note 8 - Fair Values Measurem59
Note 8 - Fair Values Measurement (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | |
Note 8 - Fair Values Measurement (Details) [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 6.50% | 6.50% | |||
Debt Instrument, Interest Rate, Effective Percentage | 8.25% | 8.25% | |||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | $ 6,710,000 | $ 8,900,000 | $ 6,710,000 | $ 8,900,000 | $ 22,997,000 |
Impaired Financing Receivable, Related Allowance | 469,000 | 469,000 | 752,000 | ||
Impaired Financing Receivable Provision for Loan Losses | 0 | 0 | 5,200,000 | ||
Other Repossessed Assets | 29,200,000 | 54,500,000 | 29,200,000 | 54,500,000 | 46,200,000 |
Real Estate Owned, Valuation Allowance, Provision | 4,450,000 | 600,000 | 7,080,000 | 1,250,000 | |
Impaired Loans [Member] | |||||
Note 8 - Fair Values Measurement (Details) [Line Items] | |||||
Impaired Financing Receivable, Related Allowance | 369,000 | $ 1,700,000 | 369,000 | $ 1,700,000 | 622,000 |
Measured for Impairment Using Fair Value of Collateral [Member] | |||||
Note 8 - Fair Values Measurement (Details) [Line Items] | |||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | $ 2,200,000 | $ 2,200,000 | $ 18,400,000 | ||
Routine Real Estate Collateral [Member] | Impaired Loans [Member] | |||||
Note 8 - Fair Values Measurement (Details) [Line Items] | |||||
Fair Value Inputs, Discount Rate | 10.00% | ||||
Thin Trading Market or Specialized Collateral [Member] | Impaired Loans [Member] | |||||
Note 8 - Fair Values Measurement (Details) [Line Items] | |||||
Fair Value Inputs, Discount Rate | 25.00% | ||||
Other Real Estate Owned [Member] | Routine Real Estate Collateral [Member] | |||||
Note 8 - Fair Values Measurement (Details) [Line Items] | |||||
Fair Value Inputs, Discount Rate | 10.00% | ||||
Other Real Estate Owned [Member] | Thin Trading Market or Specialized Collateral [Member] | |||||
Note 8 - Fair Values Measurement (Details) [Line Items] | |||||
Fair Value Inputs, Discount Rate | 25.00% | ||||
Minimum [Member] | Impaired Loans [Member] | |||||
Note 8 - Fair Values Measurement (Details) [Line Items] | |||||
Fair Value Inputs Estimated Discount Rate for Cost to Sell | 6.00% | ||||
Minimum [Member] | Impaired Loans [Member] | |||||
Note 8 - Fair Values Measurement (Details) [Line Items] | |||||
Fair Value Inputs, Discount Rate | 10.00% | ||||
Minimum [Member] | Other Real Estate Owned [Member] | |||||
Note 8 - Fair Values Measurement (Details) [Line Items] | |||||
Fair Value Inputs Estimated Discount Rate for Cost to Sell | 6.00% | ||||
Maximum [Member] | Impaired Loans [Member] | |||||
Note 8 - Fair Values Measurement (Details) [Line Items] | |||||
Fair Value Inputs Estimated Discount Rate for Cost to Sell | 10.00% | ||||
Maximum [Member] | Impaired Loans [Member] | |||||
Note 8 - Fair Values Measurement (Details) [Line Items] | |||||
Fair Value Inputs, Discount Rate | 33.00% | ||||
Maximum [Member] | Other Real Estate Owned [Member] | |||||
Note 8 - Fair Values Measurement (Details) [Line Items] | |||||
Fair Value Inputs Estimated Discount Rate for Cost to Sell | 10.00% |
Note 8 - Fair Values Measurem60
Note 8 - Fair Values Measurement (Details) - Financial Assets Measured at Fair Value on Recurring and Non Recurring Basis - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Available for sale securities | ||
Available-for-sale securities | $ 146,837 | $ 190,791 |
US Treasury and Government [Member] | ||
Available for sale securities | ||
Available-for-sale securities | 30,815 | 35,443 |
US Treasury and Government [Member] | Fair Value, Measurements, Recurring [Member] | ||
Available for sale securities | ||
Available-for-sale securities | 30,815 | 35,443 |
Residential Mortgage Backed Securities [Member] | ||
Available for sale securities | ||
Available-for-sale securities | 106,166 | 123,598 |
Residential Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Available for sale securities | ||
Available-for-sale securities | 106,166 | 123,598 |
US States and Political Subdivisions Debt Securities [Member] | ||
Available for sale securities | ||
Available-for-sale securities | 6,916 | 12,404 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Available for sale securities | ||
Available-for-sale securities | 6,916 | 12,404 |
Corporate Debt Securities [Member] | ||
Available for sale securities | ||
Available-for-sale securities | 2,289 | 18,688 |
Corporate Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Available for sale securities | ||
Available-for-sale securities | 2,289 | 18,688 |
Other Debt Obligations [Member] | ||
Available for sale securities | ||
Available-for-sale securities | 651 | 658 |
Other Debt Obligations [Member] | Fair Value, Measurements, Recurring [Member] | ||
Available for sale securities | ||
Available-for-sale securities | 651 | 658 |
Impaired Loans [Member] | Commercial Portfolio Segment [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Available for sale securities | ||
Available-for-sale securities | 12 | |
Impaired Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | Fair Value, Measurements, Nonrecurring [Member] | Farmland Loans [Member] | ||
Available for sale securities | ||
Available-for-sale securities | 278 | |
Impaired Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | Fair Value, Measurements, Nonrecurring [Member] | Nonfarm Nonresidential [Member] | ||
Available for sale securities | ||
Available-for-sale securities | 339 | |
Impaired Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | Fair Value, Measurements, Nonrecurring [Member] | Other Loans [Member] | ||
Available for sale securities | ||
Available-for-sale securities | 15,825 | |
Impaired Loans [Member] | Residential Portfolio Segment [Member] | Fair Value, Measurements, Nonrecurring [Member] | One- to Four-family Residential Properties [Member] | ||
Available for sale securities | ||
Available-for-sale securities | 1,470 | 1,635 |
Impaired Loans [Member] | Consumer Portfolio Segment [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Available for sale securities | ||
Available-for-sale securities | 31 | |
Other Real Estate Owned [Member] | Commercial Real Estate Portfolio Segment [Member] | Fair Value, Measurements, Nonrecurring [Member] | Construction Loans [Member] | ||
Available for sale securities | ||
Available-for-sale securities | 14,599 | 18,325 |
Other Real Estate Owned [Member] | Commercial Real Estate Portfolio Segment [Member] | Fair Value, Measurements, Nonrecurring [Member] | Farmland Loans [Member] | ||
Available for sale securities | ||
Available-for-sale securities | 33 | 654 |
Other Real Estate Owned [Member] | Commercial Real Estate Portfolio Segment [Member] | Fair Value, Measurements, Nonrecurring [Member] | Nonfarm Nonresidential [Member] | ||
Available for sale securities | ||
Available-for-sale securities | 11,937 | |
Other Real Estate Owned [Member] | Commercial Real Estate Portfolio Segment [Member] | Fair Value, Measurements, Nonrecurring [Member] | Other Loans [Member] | ||
Available for sale securities | ||
Available-for-sale securities | 14,525 | |
Other Real Estate Owned [Member] | Residential Portfolio Segment [Member] | Fair Value, Measurements, Nonrecurring [Member] | Multifamily Loans [Member] | ||
Available for sale securities | ||
Available-for-sale securities | 4,875 | |
Other Real Estate Owned [Member] | Residential Portfolio Segment [Member] | Fair Value, Measurements, Nonrecurring [Member] | One- to Four-family Residential Properties [Member] | ||
Available for sale securities | ||
Available-for-sale securities | 2,608 | 7,818 |
Fair Value, Inputs, Level 2 [Member] | ||
Available for sale securities | ||
Available-for-sale securities | 146,186 | 190,133 |
Fair Value, Inputs, Level 2 [Member] | US Treasury and Government [Member] | Fair Value, Measurements, Recurring [Member] | ||
Available for sale securities | ||
Available-for-sale securities | 30,815 | 35,443 |
Fair Value, Inputs, Level 2 [Member] | Residential Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Available for sale securities | ||
Available-for-sale securities | 106,166 | 123,598 |
Fair Value, Inputs, Level 2 [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Available for sale securities | ||
Available-for-sale securities | 6,916 | 12,404 |
Fair Value, Inputs, Level 2 [Member] | Corporate Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Available for sale securities | ||
Available-for-sale securities | 2,289 | 18,688 |
Fair Value, Inputs, Level 3 [Member] | ||
Available for sale securities | ||
Available-for-sale securities | 651 | 658 |
Fair Value, Inputs, Level 3 [Member] | Other Debt Obligations [Member] | Fair Value, Measurements, Recurring [Member] | ||
Available for sale securities | ||
Available-for-sale securities | 651 | 658 |
Fair Value, Inputs, Level 3 [Member] | Impaired Loans [Member] | Commercial Portfolio Segment [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Available for sale securities | ||
Available-for-sale securities | 12 | |
Fair Value, Inputs, Level 3 [Member] | Impaired Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | Fair Value, Measurements, Nonrecurring [Member] | Farmland Loans [Member] | ||
Available for sale securities | ||
Available-for-sale securities | 278 | |
Fair Value, Inputs, Level 3 [Member] | Impaired Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | Fair Value, Measurements, Nonrecurring [Member] | Nonfarm Nonresidential [Member] | ||
Available for sale securities | ||
Available-for-sale securities | 339 | |
Fair Value, Inputs, Level 3 [Member] | Impaired Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | Fair Value, Measurements, Nonrecurring [Member] | Other Loans [Member] | ||
Available for sale securities | ||
Available-for-sale securities | 15,825 | |
Fair Value, Inputs, Level 3 [Member] | Impaired Loans [Member] | Residential Portfolio Segment [Member] | Fair Value, Measurements, Nonrecurring [Member] | One- to Four-family Residential Properties [Member] | ||
Available for sale securities | ||
Available-for-sale securities | 1,470 | 1,635 |
Fair Value, Inputs, Level 3 [Member] | Impaired Loans [Member] | Consumer Portfolio Segment [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Available for sale securities | ||
Available-for-sale securities | 31 | |
Fair Value, Inputs, Level 3 [Member] | Other Real Estate Owned [Member] | Commercial Real Estate Portfolio Segment [Member] | Fair Value, Measurements, Nonrecurring [Member] | Construction Loans [Member] | ||
Available for sale securities | ||
Available-for-sale securities | 14,599 | 18,325 |
Fair Value, Inputs, Level 3 [Member] | Other Real Estate Owned [Member] | Commercial Real Estate Portfolio Segment [Member] | Fair Value, Measurements, Nonrecurring [Member] | Farmland Loans [Member] | ||
Available for sale securities | ||
Available-for-sale securities | 33 | 654 |
Fair Value, Inputs, Level 3 [Member] | Other Real Estate Owned [Member] | Commercial Real Estate Portfolio Segment [Member] | Fair Value, Measurements, Nonrecurring [Member] | Nonfarm Nonresidential [Member] | ||
Available for sale securities | ||
Available-for-sale securities | 11,937 | |
Fair Value, Inputs, Level 3 [Member] | Other Real Estate Owned [Member] | Commercial Real Estate Portfolio Segment [Member] | Fair Value, Measurements, Nonrecurring [Member] | Other Loans [Member] | ||
Available for sale securities | ||
Available-for-sale securities | 14,525 | |
Fair Value, Inputs, Level 3 [Member] | Other Real Estate Owned [Member] | Residential Portfolio Segment [Member] | Fair Value, Measurements, Nonrecurring [Member] | Multifamily Loans [Member] | ||
Available for sale securities | ||
Available-for-sale securities | 4,875 | |
Fair Value, Inputs, Level 3 [Member] | Other Real Estate Owned [Member] | Residential Portfolio Segment [Member] | Fair Value, Measurements, Nonrecurring [Member] | One- to Four-family Residential Properties [Member] | ||
Available for sale securities | ||
Available-for-sale securities | $ 2,608 | $ 7,818 |
Note 8 - Fair Values Measurem61
Note 8 - Fair Values Measurement (Details) - Reconcilation of All Assets Measured at Fair Value On Recurring Basis Using Significant Unobservable Inputs Level 3 - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Reconcilation of All Assets Measured at Fair Value On Recurring Basis Using Significant Unobservable Inputs Level 3 [Abstract] | ||
Balances of recurring Level 3 assets | $ 658 | $ 632 |
Total gain (loss) for the period: | ||
Included in other comprehensive income (loss) | (7) | 26 |
Balances of recurring Level 3 assets | $ 651 | $ 658 |
Note 8 - Fair Values Measurem62
Note 8 - Fair Values Measurement (Details) - Qualitative Information about Level Three Fair Value Measurements for Financial Instruments Measured at Fair Value on Non-recurring Basis - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2015 | Dec. 31, 2014 | |
Commercial Real Estate Portfolio Segment [Member] | Cost Approach Valuation Technique [Member] | Impaired Loans [Member] | ||
Note 8 - Fair Values Measurement (Details) - Qualitative Information about Level Three Fair Value Measurements for Financial Instruments Measured at Fair Value on Non-recurring Basis [Line Items] | ||
Fair value (in Dollars) | $ 339 | $ 16,103 |
Unobservable input(s) | Adjustment for differences between the comparable sales | Adjustment for differences between the comparable sales |
Fair value (in Dollars) | $ 339 | $ 16,103 |
Unobservable input(s) | Adjustment for differences between the comparable sales | Adjustment for differences between the comparable sales |
Commercial Real Estate Portfolio Segment [Member] | Cost Approach Valuation Technique [Member] | Other Real Estate Owned [Member] | ||
Note 8 - Fair Values Measurement (Details) - Qualitative Information about Level Three Fair Value Measurements for Financial Instruments Measured at Fair Value on Non-recurring Basis [Line Items] | ||
Fair value (in Dollars) | $ 26,569 | $ 33,504 |
Unobservable input(s) | Adjustment for differences between the comparable sales | Adjustment for differences between the comparable sales |
Fair value (in Dollars) | $ 26,569 | $ 33,504 |
Unobservable input(s) | Adjustment for differences between the comparable sales | Adjustment for differences between the comparable sales |
Commercial Real Estate Portfolio Segment [Member] | Income Approach Valuation Technique [Member] | Impaired Loans [Member] | ||
Note 8 - Fair Values Measurement (Details) - Qualitative Information about Level Three Fair Value Measurements for Financial Instruments Measured at Fair Value on Non-recurring Basis [Line Items] | ||
Unobservable input(s) | Discount or capitalization rate | Discount or capitalization rate |
Unobservable input(s) | Discount or capitalization rate | Discount or capitalization rate |
Commercial Real Estate Portfolio Segment [Member] | Income Approach Valuation Technique [Member] | Other Real Estate Owned [Member] | ||
Note 8 - Fair Values Measurement (Details) - Qualitative Information about Level Three Fair Value Measurements for Financial Instruments Measured at Fair Value on Non-recurring Basis [Line Items] | ||
Unobservable input(s) | Discount or capitalization rate | Discount or capitalization rate |
Unobservable input(s) | Discount or capitalization rate | Discount or capitalization rate |
Residential Portfolio Segment [Member] | Cost Approach Valuation Technique [Member] | Impaired Loans [Member] | ||
Note 8 - Fair Values Measurement (Details) - Qualitative Information about Level Three Fair Value Measurements for Financial Instruments Measured at Fair Value on Non-recurring Basis [Line Items] | ||
Fair value (in Dollars) | $ 1,470 | $ 1,635 |
Unobservable input(s) | Adjustment for differences between the comparable sales | Adjustment for differences between the comparable sales |
Fair value (in Dollars) | $ 1,470 | $ 1,635 |
Unobservable input(s) | Adjustment for differences between the comparable sales | Adjustment for differences between the comparable sales |
Residential Portfolio Segment [Member] | Cost Approach Valuation Technique [Member] | Other Real Estate Owned [Member] | ||
Note 8 - Fair Values Measurement (Details) - Qualitative Information about Level Three Fair Value Measurements for Financial Instruments Measured at Fair Value on Non-recurring Basis [Line Items] | ||
Fair value (in Dollars) | $ 2,608 | $ 12,693 |
Unobservable input(s) | Adjustment for differences between the comparable sales | Adjustment for differences between the comparable sales |
Fair value (in Dollars) | $ 2,608 | $ 12,693 |
Unobservable input(s) | Adjustment for differences between the comparable sales | Adjustment for differences between the comparable sales |
Commercial Portfolio Segment [Member] | Market Approach Valuation Technique [Member] | Impaired Loans [Member] | ||
Note 8 - Fair Values Measurement (Details) - Qualitative Information about Level Three Fair Value Measurements for Financial Instruments Measured at Fair Value on Non-recurring Basis [Line Items] | ||
Fair value (in Dollars) | $ 12 | |
Unobservable input(s) | Adjustment for receivables and inventory discounts | |
Fair value (in Dollars) | $ 12 | |
Unobservable input(s) | Adjustment for receivables and inventory discounts | |
Minimum [Member] | Commercial Real Estate Portfolio Segment [Member] | Cost Approach Valuation Technique [Member] | Impaired Loans [Member] | ||
Note 8 - Fair Values Measurement (Details) - Qualitative Information about Level Three Fair Value Measurements for Financial Instruments Measured at Fair Value on Non-recurring Basis [Line Items] | ||
Range of inputs | 5.00% | 0.00% |
Weighted average | (5.00%) | (0.00%) |
Minimum [Member] | Commercial Real Estate Portfolio Segment [Member] | Cost Approach Valuation Technique [Member] | Other Real Estate Owned [Member] | ||
Note 8 - Fair Values Measurement (Details) - Qualitative Information about Level Three Fair Value Measurements for Financial Instruments Measured at Fair Value on Non-recurring Basis [Line Items] | ||
Range of inputs | 0.00% | 0.00% |
Weighted average | (0.00%) | (0.00%) |
Minimum [Member] | Commercial Real Estate Portfolio Segment [Member] | Income Approach Valuation Technique [Member] | Impaired Loans [Member] | ||
Note 8 - Fair Values Measurement (Details) - Qualitative Information about Level Three Fair Value Measurements for Financial Instruments Measured at Fair Value on Non-recurring Basis [Line Items] | ||
Range of inputs | 9.00% | 8.00% |
Weighted average | (9.00%) | (8.00%) |
Minimum [Member] | Commercial Real Estate Portfolio Segment [Member] | Income Approach Valuation Technique [Member] | Other Real Estate Owned [Member] | ||
Note 8 - Fair Values Measurement (Details) - Qualitative Information about Level Three Fair Value Measurements for Financial Instruments Measured at Fair Value on Non-recurring Basis [Line Items] | ||
Range of inputs | 9.00% | 9.00% |
Weighted average | (9.00%) | (9.00%) |
Minimum [Member] | Residential Portfolio Segment [Member] | Cost Approach Valuation Technique [Member] | Impaired Loans [Member] | ||
Note 8 - Fair Values Measurement (Details) - Qualitative Information about Level Three Fair Value Measurements for Financial Instruments Measured at Fair Value on Non-recurring Basis [Line Items] | ||
Range of inputs | 1.00% | 0.00% |
Weighted average | (1.00%) | (0.00%) |
Minimum [Member] | Residential Portfolio Segment [Member] | Cost Approach Valuation Technique [Member] | Other Real Estate Owned [Member] | ||
Note 8 - Fair Values Measurement (Details) - Qualitative Information about Level Three Fair Value Measurements for Financial Instruments Measured at Fair Value on Non-recurring Basis [Line Items] | ||
Range of inputs | 0.00% | 0.00% |
Weighted average | (0.00%) | (0.00%) |
Minimum [Member] | Commercial Portfolio Segment [Member] | Market Approach Valuation Technique [Member] | Impaired Loans [Member] | ||
Note 8 - Fair Values Measurement (Details) - Qualitative Information about Level Three Fair Value Measurements for Financial Instruments Measured at Fair Value on Non-recurring Basis [Line Items] | ||
Range of inputs | 16.00% | |
Weighted average | (16.00%) | |
Maximum [Member] | Commercial Real Estate Portfolio Segment [Member] | Cost Approach Valuation Technique [Member] | Impaired Loans [Member] | ||
Note 8 - Fair Values Measurement (Details) - Qualitative Information about Level Three Fair Value Measurements for Financial Instruments Measured at Fair Value on Non-recurring Basis [Line Items] | ||
Range of inputs | 16.00% | 62.00% |
Weighted average | (16.00%) | (62.00%) |
Maximum [Member] | Commercial Real Estate Portfolio Segment [Member] | Cost Approach Valuation Technique [Member] | Other Real Estate Owned [Member] | ||
Note 8 - Fair Values Measurement (Details) - Qualitative Information about Level Three Fair Value Measurements for Financial Instruments Measured at Fair Value on Non-recurring Basis [Line Items] | ||
Range of inputs | 72.00% | 45.00% |
Weighted average | (72.00%) | (45.00%) |
Maximum [Member] | Commercial Real Estate Portfolio Segment [Member] | Income Approach Valuation Technique [Member] | Impaired Loans [Member] | ||
Note 8 - Fair Values Measurement (Details) - Qualitative Information about Level Three Fair Value Measurements for Financial Instruments Measured at Fair Value on Non-recurring Basis [Line Items] | ||
Range of inputs | 10.00% | 9.00% |
Weighted average | (10.00%) | (9.00%) |
Maximum [Member] | Commercial Real Estate Portfolio Segment [Member] | Income Approach Valuation Technique [Member] | Other Real Estate Owned [Member] | ||
Note 8 - Fair Values Measurement (Details) - Qualitative Information about Level Three Fair Value Measurements for Financial Instruments Measured at Fair Value on Non-recurring Basis [Line Items] | ||
Range of inputs | 20.00% | 20.00% |
Weighted average | (20.00%) | (20.00%) |
Maximum [Member] | Residential Portfolio Segment [Member] | Cost Approach Valuation Technique [Member] | Impaired Loans [Member] | ||
Note 8 - Fair Values Measurement (Details) - Qualitative Information about Level Three Fair Value Measurements for Financial Instruments Measured at Fair Value on Non-recurring Basis [Line Items] | ||
Range of inputs | 16.00% | 39.00% |
Weighted average | (16.00%) | (39.00%) |
Maximum [Member] | Residential Portfolio Segment [Member] | Cost Approach Valuation Technique [Member] | Other Real Estate Owned [Member] | ||
Note 8 - Fair Values Measurement (Details) - Qualitative Information about Level Three Fair Value Measurements for Financial Instruments Measured at Fair Value on Non-recurring Basis [Line Items] | ||
Range of inputs | 15.00% | 15.00% |
Weighted average | (15.00%) | (15.00%) |
Maximum [Member] | Commercial Portfolio Segment [Member] | Market Approach Valuation Technique [Member] | Impaired Loans [Member] | ||
Note 8 - Fair Values Measurement (Details) - Qualitative Information about Level Three Fair Value Measurements for Financial Instruments Measured at Fair Value on Non-recurring Basis [Line Items] | ||
Range of inputs | 32.00% | |
Weighted average | (32.00%) | |
Weighted Average [Member] | Commercial Real Estate Portfolio Segment [Member] | Cost Approach Valuation Technique [Member] | Impaired Loans [Member] | ||
Note 8 - Fair Values Measurement (Details) - Qualitative Information about Level Three Fair Value Measurements for Financial Instruments Measured at Fair Value on Non-recurring Basis [Line Items] | ||
Range of inputs | 11.00% | 14.00% |
Weighted average | (11.00%) | (14.00%) |
Weighted Average [Member] | Commercial Real Estate Portfolio Segment [Member] | Cost Approach Valuation Technique [Member] | Other Real Estate Owned [Member] | ||
Note 8 - Fair Values Measurement (Details) - Qualitative Information about Level Three Fair Value Measurements for Financial Instruments Measured at Fair Value on Non-recurring Basis [Line Items] | ||
Range of inputs | 21.00% | 18.00% |
Weighted average | (21.00%) | (18.00%) |
Weighted Average [Member] | Commercial Real Estate Portfolio Segment [Member] | Income Approach Valuation Technique [Member] | Impaired Loans [Member] | ||
Note 8 - Fair Values Measurement (Details) - Qualitative Information about Level Three Fair Value Measurements for Financial Instruments Measured at Fair Value on Non-recurring Basis [Line Items] | ||
Range of inputs | 9.00% | 8.00% |
Weighted average | (9.00%) | (8.00%) |
Weighted Average [Member] | Commercial Real Estate Portfolio Segment [Member] | Income Approach Valuation Technique [Member] | Other Real Estate Owned [Member] | ||
Note 8 - Fair Values Measurement (Details) - Qualitative Information about Level Three Fair Value Measurements for Financial Instruments Measured at Fair Value on Non-recurring Basis [Line Items] | ||
Range of inputs | 13.00% | 13.00% |
Weighted average | (13.00%) | (13.00%) |
Weighted Average [Member] | Residential Portfolio Segment [Member] | Cost Approach Valuation Technique [Member] | Impaired Loans [Member] | ||
Note 8 - Fair Values Measurement (Details) - Qualitative Information about Level Three Fair Value Measurements for Financial Instruments Measured at Fair Value on Non-recurring Basis [Line Items] | ||
Range of inputs | 7.00% | 11.00% |
Weighted average | (7.00%) | (11.00%) |
Weighted Average [Member] | Residential Portfolio Segment [Member] | Cost Approach Valuation Technique [Member] | Other Real Estate Owned [Member] | ||
Note 8 - Fair Values Measurement (Details) - Qualitative Information about Level Three Fair Value Measurements for Financial Instruments Measured at Fair Value on Non-recurring Basis [Line Items] | ||
Range of inputs | 8.00% | 6.00% |
Weighted average | (8.00%) | (6.00%) |
Weighted Average [Member] | Commercial Portfolio Segment [Member] | Market Approach Valuation Technique [Member] | Impaired Loans [Member] | ||
Note 8 - Fair Values Measurement (Details) - Qualitative Information about Level Three Fair Value Measurements for Financial Instruments Measured at Fair Value on Non-recurring Basis [Line Items] | ||
Range of inputs | 24.00% | |
Weighted average | (24.00%) |
Note 8 - Fair Values Measurem63
Note 8 - Fair Values Measurement (Details) - Carrying Amount and Estimated Fair Values of Financial Instruments - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Dec. 31, 2013 |
Financial assets | ||||
Cash and cash equivalents | $ 80,480 | $ 80,180 | $ 84,830 | $ 111,134 |
Cash and cash equivalents | 80,480 | 80,180 | ||
Securities available for sale | 146,837 | 190,791 | ||
Securities held to maturity | 42,138 | 42,325 | ||
Securities held to maturity | 44,244 | 44,498 | ||
Federal Home Loan Bank stock | $ 7,323 | $ 7,323 | ||
Federal Home Loan Bank stock | ||||
Loans held for sale | $ 71 | $ 8,926 | ||
Loans held for sale | 71 | 8,926 | ||
Loans, net | 610,216 | 605,635 | ||
Loans, net | 620,807 | 615,914 | ||
Accrued interest receivable | 3,291 | 3,503 | ||
Accrued interest receivable | 3,291 | 3,503 | ||
Financial liabilities | ||||
Deposits | 877,893 | 926,841 | ||
Deposits | 872,991 | 919,418 | ||
Securities sold under agreements to repurchase | 1,341 | |||
Securities sold under agreements to repurchase | 1,341 | |||
Federal Home Loan Bank advances | 3,255 | 15,752 | ||
Federal Home Loan Bank advances | 3,263 | 15,758 | ||
Subordinated capital notes | 4,275 | 4,950 | ||
Subordinated capital notes | 4,142 | 4,765 | ||
Junior subordinated debentures | 21,000 | 25,000 | ||
Junior subordinated debentures | 12,638 | 14,214 | ||
Accrued interest payable | 2,851 | 2,858 | ||
Accrued interest payable | 2,851 | 2,858 | ||
Fair Value, Inputs, Level 1 [Member] | ||||
Financial assets | ||||
Cash and cash equivalents | $ 68,257 | $ 49,007 | ||
Federal Home Loan Bank stock | ||||
Financial liabilities | ||||
Deposits | $ 106,160 | $ 114,910 | ||
Fair Value, Inputs, Level 2 [Member] | ||||
Financial assets | ||||
Cash and cash equivalents | 12,223 | 31,173 | ||
Securities available for sale | 146,186 | 190,133 | ||
Securities held to maturity | $ 44,244 | $ 44,498 | ||
Federal Home Loan Bank stock | ||||
Loans held for sale | $ 71 | $ 8,926 | ||
Accrued interest receivable | 1,052 | 1,389 | ||
Financial liabilities | ||||
Deposits | 766,831 | 804,508 | ||
Securities sold under agreements to repurchase | 1,341 | |||
Federal Home Loan Bank advances | 3,263 | 15,758 | ||
Accrued interest payable | 530 | 751 | ||
Fair Value, Inputs, Level 3 [Member] | ||||
Financial assets | ||||
Securities available for sale | $ 651 | $ 658 | ||
Federal Home Loan Bank stock | ||||
Loans, net | $ 620,807 | $ 615,914 | ||
Accrued interest receivable | 2,239 | 2,114 | ||
Financial liabilities | ||||
Subordinated capital notes | 4,142 | 4,765 | ||
Junior subordinated debentures | 12,638 | 14,214 | ||
Accrued interest payable | $ 2,321 | $ 2,107 |
Note 9 - Income Taxes (Details)
Note 9 - Income Taxes (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Jul. 10, 2015 | Dec. 31, 2014 | |
Income Tax Disclosure [Abstract] | |||||
Income Tax Expense (Benefit) | $ (38,000) | $ 0 | $ (1,345,000) | ||
Unrecognized Tax Benefits | 0 | $ 0 | |||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued | $ 0 | 0 | 0 | ||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | $ 0 | $ 0 | |||
Common Stock Ownership Percentage by Individual | 5.00% | ||||
Common Stock Ownership Percentage | 50.00% | ||||
Dividend Declared, Preferred Stock Purchase Right Per Each Share of Common Stock (in Shares) | 1 |
Note 9 - Income Taxes (Detail65
Note 9 - Income Taxes (Details) - Deferred Tax Assets and Liabilities - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Deferred tax assets: | ||
Net operating loss carry-forward | $ 35,788 | $ 32,111 |
Allowance for loan losses | 4,969 | 6,777 |
Other real estate owned write-down | 9,647 | 10,000 |
Alternative minimum tax credit carry-forward | 692 | 692 |
Net assets from acquisitions | 671 | 668 |
Other than temporary impairment on securities | 46 | 46 |
New market tax credit carry-forward | 208 | 208 |
Nonaccrual loan interest | 607 | 958 |
Amortization of non-compete agreements | 12 | 14 |
Other | 1,674 | 1,701 |
54,314 | 53,175 | |
Deferred tax liabilities: | ||
FHLB stock dividends | 928 | 928 |
Fixed assets | 225 | 264 |
Originated mortgage servicing rights | 37 | 53 |
Net unrealized gain on securities | 297 | 579 |
Other | 669 | 703 |
2,156 | 2,527 | |
Net deferred tax assets before valuation allowance | 52,158 | 50,648 |
Valuation allowance | (52,158) | (50,648) |
Net deferred tax asset | $ 0 | $ 0 |
Note 10 - Stock Plans and Sto66
Note 10 - Stock Plans and Stock Based Compensation (Details) - USD ($) | Mar. 25, 2015 | Jun. 30, 2015 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | Dec. 31, 2013 |
Note 10 - Stock Plans and Stock Based Compensation (Details) [Line Items] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 924,091 | 770,440 | 787,426 | |||
Restricted Stock, Shares Cancelled | 538,479 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 0.89 | $ 0.93 | ||||
Share-based Compensation | $ 313,000 | $ 480,000 | ||||
Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Share-based Compensation Cost | 0 | $ 0 | ||||
Employee [Member] | ||||||
Note 10 - Stock Plans and Stock Based Compensation (Details) [Line Items] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award Equity Instruments, Other than Options, Nonvested Intrinsic Value 1 | $ 712,000 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 0.89 | |||||
Director [Member] | ||||||
Note 10 - Stock Plans and Stock Based Compensation (Details) [Line Items] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award Equity Instruments, Other than Options, Nonvested Intrinsic Value 1 | $ 125,000 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 1.08 | |||||
Stock Incentive Plan 2006 [Member] | ||||||
Note 10 - Stock Plans and Stock Based Compensation (Details) [Line Items] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 1,563,050 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 924,091 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Shares Remaining Available for Issuance | 301,920 | |||||
Non-Employee Directors Stock Incentive Plan 2006 [Member] | ||||||
Note 10 - Stock Plans and Stock Based Compensation (Details) [Line Items] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 700,000 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 115,740 | 115,740 | 5,052 | 47,428 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Shares Remaining Available for Issuance | 185,774 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 1.08 | $ 0.90 | ||||
Restricted Stock [Member] | Non-Employee Directors Stock Incentive Plan 2006 [Member] | ||||||
Note 10 - Stock Plans and Stock Based Compensation (Details) [Line Items] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Annual Award to Non-Employee Directors, Value | $ 25,000 | |||||
Service-based Restricted Stock [Member] | ||||||
Note 10 - Stock Plans and Stock Based Compensation (Details) [Line Items] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 4 years | |||||
Stock Issued During Period, Shares, Restricted Stock Award, Gross | 800,000 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Plan Modification Incremental Expense Recognized | $ 233,000 | |||||
Minimum [Member] | Unvested Shares [Member] | Stock Incentive Plan 2006 [Member] | ||||||
Note 10 - Stock Plans and Stock Based Compensation (Details) [Line Items] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | |||||
Maximum [Member] | Unvested Shares [Member] | Stock Incentive Plan 2006 [Member] | ||||||
Note 10 - Stock Plans and Stock Based Compensation (Details) [Line Items] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 10 years |
Note 10 - Stock Plans and Sto67
Note 10 - Stock Plans and Stock Based Compensation (Details) - Unvested Share Activity - $ / shares | 9 Months Ended | 12 Months Ended |
Sep. 30, 2015 | Dec. 31, 2014 | |
Unvested Share Activity [Abstract] | ||
Outstanding, beginning | 770,440 | 787,426 |
Outstanding, beginning | $ 1.33 | $ 1.56 |
Granted | 800,000 | 122,220 |
Granted | $ 0.89 | $ 0.93 |
Vested | (165,185) | (133,227) |
Vested | $ 1.50 | $ 2.20 |
Terminated | (450,994) | |
Terminated | $ 1.25 | |
Forfeited | (30,170) | (5,979) |
Forfeited | $ 1.12 | $ 4.21 |
Outstanding, ending | 924,091 | 770,440 |
Outstanding, ending | $ 0.96 | $ 1.33 |
Note 10 - Stock Plans and Sto68
Note 10 - Stock Plans and Stock Based Compensation (Details) - Unvested Share Activity for Non-Employee Directors - $ / shares | 6 Months Ended | 9 Months Ended | 12 Months Ended |
Jun. 30, 2015 | Sep. 30, 2015 | Dec. 31, 2014 | |
Note 10 - Stock Plans and Stock Based Compensation (Details) - Unvested Share Activity for Non-Employee Directors [Line Items] | |||
Outstanding, beginning | 770,440 | 770,440 | 787,426 |
Outstanding, beginning | $ 1.33 | $ 1.33 | $ 1.56 |
Granted | 800,000 | 122,220 | |
Granted | $ 0.89 | $ 0.93 | |
Vested | (165,185) | (133,227) | |
Vested | $ 1.50 | $ 2.20 | |
Forfeited | (30,170) | (5,979) | |
Forfeited | $ 1.12 | $ 4.21 | |
Outstanding, ending | 924,091 | 770,440 | |
Outstanding, ending | $ 0.96 | $ 1.33 | |
Non-Employee Directors Stock Incentive Plan 2006 [Member] | |||
Note 10 - Stock Plans and Stock Based Compensation (Details) - Unvested Share Activity for Non-Employee Directors [Line Items] | |||
Outstanding, beginning | 5,052 | 5,052 | 47,428 |
Outstanding, beginning | $ 1.65 | $ 1.65 | $ 1.69 |
Granted | 115,740 | 166,668 | |
Granted | $ 1.08 | $ 0.90 | |
Vested | (5,052) | (154,222) | |
Vested | $ 1.65 | $ 0.98 | |
Forfeited | (54,822) | ||
Forfeited | $ 1.29 | ||
Outstanding, ending | 115,740 | 115,740 | 5,052 |
Outstanding, ending | $ 1.08 | $ 1.65 |
Note 10 - Stock Plans and Sto69
Note 10 - Stock Plans and Stock Based Compensation (Details) - Unrecognized Stock Based Compensation Expense Related to Unvested Shares $ in Thousands | Sep. 30, 2015USD ($) |
Unrecognized Stock Based Compensation Expense Related to Unvested Shares [Abstract] | |
October 2015 – December 2015 | $ 132 |
2,016 | 253 |
2,017 | 156 |
2,018 | 149 |
2019 & thereafter | $ 0 |
Note 11 - Earnings (Loss) per70
Note 11 - Earnings (Loss) per Share (Details) - $ / shares | 1 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | |
Note 11 - Earnings (Loss) per Share (Details) [Line Items] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 0 | 0 | 0 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period | 30,170 | 5,979 | |||
Common Stock [Member] | |||||
Note 11 - Earnings (Loss) per Share (Details) [Line Items] | |||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in Dollars per share) | $ 15.88 | $ 15.88 | |||
Warrant [Member] | |||||
Note 11 - Earnings (Loss) per Share (Details) [Line Items] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period | 798,915 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Expirations | 650,544 | ||||
Warrant [Member] | Common Stock [Member] | |||||
Note 11 - Earnings (Loss) per Share (Details) [Line Items] | |||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 330,561 | 330,561 | |||
Nonvoting Common Stock [Member] | |||||
Note 11 - Earnings (Loss) per Share (Details) [Line Items] | |||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in Dollars per share) | $ 10.95 | ||||
Nonvoting Common Stock [Member] | Warrant [Member] | |||||
Note 11 - Earnings (Loss) per Share (Details) [Line Items] | |||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 1,449,459 |
Note 11 - Earnings (Loss) per71
Note 11 - Earnings (Loss) per Share (Details) - Basic and Diluted Loss per Share - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | |
Note 11 - Earnings (Loss) per Share (Details) - Basic and Diluted Loss per Share [Line Items] | ||||||
Net loss (in Dollars) | $ (1,076) | $ (849) | $ (2,612) | $ (7,370) | $ (11,200) | |
Less: | ||||||
Preferred stock dividends (in Dollars) | 786 | 2,361 | ||||
Earnings allocated (in Dollars) | (45) | (162) | (338) | (928) | (3,200) | |
Net loss attributable to common shareholders, basic and diluted (in Dollars) | $ (1,031) | $ (1,473) | $ (2,274) | $ (8,803) | $ 19,400 | $ (3,400) |
Basic | ||||||
Weighted average common shares including unvested common shares outstanding | 25,768,887 | 13,435,788 | 25,626,610 | 13,314,138 | ||
Less: | ||||||
Weighted average shares outstanding | 24,681,547 | 12,086,843 | 22,313,501 | 12,044,858 | ||
Basic loss per common share (in Dollars per share) | $ (0.04) | $ (0.12) | $ (0.10) | $ (0.73) | ||
Diluted | ||||||
Add: Dilutive effects of assumed exercises of common and Preferred Series C stock warrants | 0 | 0 | 0 | 0 | ||
Weighted average common shares and potential common shares | 24,681,547 | 12,086,843 | 22,313,501 | 12,044,858 | ||
Diluted loss per common share (in Dollars per share) | $ (0.04) | $ (0.12) | $ (0.10) | $ (0.73) | ||
Series C Preferred Stock [Member] | ||||||
Less: | ||||||
Earnings allocated (in Dollars) | $ (40) | $ (236) | $ (243) | |||
Less: | ||||||
Weighted average shares outstanding | 332,894 | 332,894 | ||||
Series B Preferred Stock [Member] | ||||||
Less: | ||||||
Weighted average shares outstanding | 890,901 | |||||
Series D Preferred Stock [Member] | ||||||
Less: | ||||||
Weighted average shares outstanding | 1,419,341 | |||||
Unvested Shares [Member] | ||||||
Less: | ||||||
Earnings allocated (in Dollars) | $ (45) | $ (122) | $ (102) | $ (685) | ||
Less: | ||||||
Weighted average shares outstanding | 1,087,340 | 1,016,051 | 1,002,867 | 936,386 |
Note 12 - Capital Requirement72
Note 12 - Capital Requirements and Restrictions on Retained Earnings (Details) - USD ($) | Sep. 30, 2015 | Sep. 30, 2015 | Sep. 30, 2015 | Dec. 31, 2014 | Jun. 24, 2011 |
Note 12 - Capital Requirements and Restrictions on Retained Earnings (Details) [Line Items] | |||||
Maximum Asset for Opt Out Requirement in Capital Calculation (in Dollars) | $ 250,000,000,000 | $ 250,000,000,000 | $ 250,000,000,000 | ||
Debt Conversion, Original Debt, Principal Amount (in Dollars) | 4,000,000 | ||||
Debt Conversion, Original Debt, Interest Amount (in Dollars) | 330,000 | ||||
Debt Conversion, Original Debt, Amount (in Dollars) | $ 4,300,000 | 4,330,000 | |||
Gains (Losses) on Extinguishment of Debt (in Dollars) | $ 883,000 | $ 883,000 | |||
Common Stock [Member] | |||||
Note 12 - Capital Requirements and Restrictions on Retained Earnings (Details) [Line Items] | |||||
Debt Conversion, Converted Instrument, Shares Issued | 1,200,000 | 1,200,000 | |||
Voting Common Stock [Member] | Common Stock [Member] | |||||
Note 12 - Capital Requirements and Restrictions on Retained Earnings (Details) [Line Items] | |||||
Debt Conversion, Converted Instrument, Shares Issued | 800,000 | 800,000 | |||
Nonvoting Common Stock [Member] | Common Stock [Member] | |||||
Note 12 - Capital Requirements and Restrictions on Retained Earnings (Details) [Line Items] | |||||
Debt Conversion, Converted Instrument, Shares Issued | 400,000 | 400,000 | |||
PBI Bank [Member] | |||||
Note 12 - Capital Requirements and Restrictions on Retained Earnings (Details) [Line Items] | |||||
Tier One Leverage Capital Required for Capital Adequacy to Average Assets | 4.00% | 4.00% | 4.00% | 4.00% | |
Capital Required for Capital Adequacy to Risk Weighted Assets | 8.00% | 8.00% | 8.00% | 8.00% | |
Tier One Leverage Capital to Average Assets | 6.01% | 6.01% | 6.01% | 5.78% | |
Capital to Risk Weighted Assets | 10.50% | 10.50% | 10.50% | 10.57% | |
Subsidiaries [Member] | |||||
Note 12 - Capital Requirements and Restrictions on Retained Earnings (Details) [Line Items] | |||||
Gains (Losses) on Extinguishment of Debt (in Dollars) | $ 883,000 | ||||
Subsidiaries [Member] | Voting Common Stock [Member] | Common Stock [Member] | Unrelated Third Party [Member] | |||||
Note 12 - Capital Requirements and Restrictions on Retained Earnings (Details) [Line Items] | |||||
Debt Conversion, Converted Instrument, Shares Issued | 400,000 | ||||
Subsidiaries [Member] | Voting Common Stock [Member] | Common Stock [Member] | Related Party [Member] | |||||
Note 12 - Capital Requirements and Restrictions on Retained Earnings (Details) [Line Items] | |||||
Debt Conversion, Converted Instrument, Shares Issued | 400,000 | ||||
Subsidiaries [Member] | Nonvoting Common Stock [Member] | Common Stock [Member] | Related Party [Member] | |||||
Note 12 - Capital Requirements and Restrictions on Retained Earnings (Details) [Line Items] | |||||
Debt Conversion, Converted Instrument, Shares Issued | 400,000 | ||||
Consent Order [Member] | PBI Bank [Member] | |||||
Note 12 - Capital Requirements and Restrictions on Retained Earnings (Details) [Line Items] | |||||
Tier One Leverage Capital Required for Capital Adequacy to Average Assets | 9.00% | 9.00% | 9.00% | 9.00% | |
Capital Required for Capital Adequacy to Risk Weighted Assets | 12.00% | 12.00% | 12.00% | 12.00% |
Note 12 - Capital Requirement73
Note 12 - Capital Requirements and Restrictions on Retained Earnings (Details) - Ratios and Amounts of Common Equity Tier 1, Tier 1 Capital and Total Capital to Risk-Adjusted Assets and the Leverage Ratios - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Consolidated Entities [Member] | ||
Total risk-based capital (to risk-weighted assets) | ||
Total risk-based capital to risk-weighted assets, actual amount | $ 69,354 | $ 73,595 |
Total risk-based capital (to risk-weighted ssets, actual ratio | 10.40% | 10.61% |
Total risk-based capital to risk-weighted assets, for capital adequacy purposes, amount | $ 53,324 | $ 55,483 |
Total risk-based capital to risk-weighted assets, for capital adequacy purposes, ratio | 8.00% | 8.00% |
Total common equity Tier I risk-based capital (to risk-weighted assets) | ||
Total common equity Tier I risk-based capital to risk-weighted assets, actual amount | $ 33,804 | |
Total common equity Tier I risk-based capital to risk-weighted assets, actual ratio | 5.07% | |
Total common equity Tier I risk-based capital to risk-weighted assets, for capital adequacy purposes, amount | $ 29,995 | |
Total common equity Tier I risk-based capital to risk-weighted assets, for captial adequacy purposes, ratio | 4.50% | |
Tier I capital (to risk-weighted assets) | ||
Tier I capital to risk-weighted assets, actual amount | $ 45,719 | $ 46,459 |
Tier I capital to risk-weighted assets, actual ratio | 6.86% | 6.70% |
Tier I capital to risk-weighted assets, for capital adequacy purposes, amount | $ 39,993 | $ 27,741 |
Tier I capital to risk-weighted assets, for capital adequacy purposes, ratio | 6.00% | 4.00% |
Tier I capital (to average assets) | ||
Tier I capital to average assets, actual amount | $ 45,719 | $ 46,459 |
Tier I capital to average assets, actual ratio | 4.73% | 4.51% |
Tier I capital to average assets, for capital adequacy purposes, amount | $ 38,676 | $ 41,193 |
Tier I capital to average assets, for capital adequacy purposes, ratio | 4.00% | 4.00% |
PBI Bank [Member] | ||
Total risk-based capital (to risk-weighted assets) | ||
Total risk-based capital to risk-weighted assets, actual amount | $ 69,810 | $ 73,174 |
Total risk-based capital (to risk-weighted ssets, actual ratio | 10.50% | 10.57% |
Total risk-based capital to risk-weighted assets, for capital adequacy purposes, amount | $ 53,178 | $ 55,383 |
Total risk-based capital to risk-weighted assets, for capital adequacy purposes, ratio | 8.00% | 8.00% |
Total common equity Tier I risk-based capital (to risk-weighted assets) | ||
Total common equity Tier I risk-based capital to risk-weighted assets, actual amount | $ 58,053 | |
Total common equity Tier I risk-based capital to risk-weighted assets, actual ratio | 8.73% | |
Total common equity Tier I risk-based capital to risk-weighted assets, for capital adequacy purposes, amount | $ 29,913 | |
Total common equity Tier I risk-based capital to risk-weighted assets, for captial adequacy purposes, ratio | 4.50% | |
Tier I capital (to risk-weighted assets) | ||
Tier I capital to risk-weighted assets, actual amount | $ 58,053 | $ 59,438 |
Tier I capital to risk-weighted assets, actual ratio | 8.73% | 8.59% |
Tier I capital to risk-weighted assets, for capital adequacy purposes, amount | $ 39,883 | $ 27,691 |
Tier I capital to risk-weighted assets, for capital adequacy purposes, ratio | 6.00% | 4.00% |
Tier I capital (to average assets) | ||
Tier I capital to average assets, actual amount | $ 58,053 | $ 59,438 |
Tier I capital to average assets, actual ratio | 6.01% | 5.78% |
Tier I capital to average assets, for capital adequacy purposes, amount | $ 38,625 | $ 41,143 |
Tier I capital to average assets, for capital adequacy purposes, ratio | 4.00% | 4.00% |
Note 12 - Capital Requirement74
Note 12 - Capital Requirements and Restrictions on Retained Earnings (Details) - Minimum Capital Ratios - PBI Bank [Member] - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 | Jun. 24, 2011 |
Note 12 - Capital Requirements and Restrictions on Retained Earnings (Details) - Minimum Capital Ratios [Line Items] | |||
Total capital to risk-weighted assets | $ 69,810 | $ 73,174 | |
Total capital to risk-weighted assets | 10.50% | 10.57% | |
Total capital to risk-weighted assets | $ 53,178 | $ 55,383 | |
Total capital to risk-weighted assets | 8.00% | 8.00% | |
Tier I capital to average assets | $ 58,053 | $ 59,438 | |
Tier I capital to average assets | 6.01% | 5.78% | |
Tier I capital to average assets | $ 38,625 | $ 41,143 | |
Tier I capital to average assets | 4.00% | 4.00% | |
Consent Order [Member] | |||
Note 12 - Capital Requirements and Restrictions on Retained Earnings (Details) - Minimum Capital Ratios [Line Items] | |||
Total capital to risk-weighted assets | $ 79,767 | ||
Total capital to risk-weighted assets | 12.00% | 12.00% | |
Tier I capital to average assets | $ 86,906 | ||
Tier I capital to average assets | 9.00% | 9.00% |
Note 13 - Contingencies (Detail
Note 13 - Contingencies (Details) | Jul. 16, 2013USD ($) | Dec. 17, 2012USD ($) | Jun. 18, 2010USD ($) | Dec. 31, 2009USD ($) | Dec. 31, 2007USD ($) | Sep. 30, 2015USD ($) |
Note 13 - Contingencies (Details) [Line Items] | ||||||
Loss Contingency Accrual | $ 1,900,000 | |||||
Loss Contingency, Number of Plaintiffs | 3 | |||||
Signature Point Litigation [Member] | ||||||
Note 13 - Contingencies (Details) [Line Items] | ||||||
Loss Contingency, Estimate of Possible Loss | $ 26,000,000 | |||||
Miller’s Health System Inc. Employee Stock Ownership Plan Litigation [Member] | ||||||
Note 13 - Contingencies (Details) [Line Items] | ||||||
Alleged Imprudent and Disloyal Purchase of Stock Authorized | $ 40,000,000 | |||||
Financing Percentage at Excessive Rate of Interest | 100.00% | |||||
AIT Laboratories Employee Stock Ownership Plan Litigation [Member] | ||||||
Note 13 - Contingencies (Details) [Line Items] | ||||||
Alleged Imprudent and Disloyal Purchase of Stock Authorized | $ 90,000,000 | |||||
Compensatory Damages [Member] | Signature Point Litigation [Member] | ||||||
Note 13 - Contingencies (Details) [Line Items] | ||||||
Loss Contingency, Damages Awarded, Value | $ 1,515,000 | |||||
Punitive Damages [Member] | Signature Point Litigation [Member] | ||||||
Note 13 - Contingencies (Details) [Line Items] | ||||||
Loss Contingency, Damages Awarded, Value | $ 5,500,000 | |||||
Minimum [Member] | SBAV LP Litigation [Member] | ||||||
Note 13 - Contingencies (Details) [Line Items] | ||||||
Loss Contingency, Damages Sought, Value | $ 4,500,000 | |||||
Maximum [Member] | SBAV LP Litigation [Member] | ||||||
Note 13 - Contingencies (Details) [Line Items] | ||||||
Loss Contingency, Damages Sought, Value | $ 5,000,016 |