Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Feb. 29, 2016 | Jun. 30, 2015 | |
Document Information [Line Items] | |||
Entity Registrant Name | PORTER BANCORP, INC. | ||
Trading Symbol | pbib | ||
Document Type | 10-K | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Public Float | $ 15,625,021 | ||
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 | Dec. 31, 2015 | ||
Document Fiscal Year Focus | 2,015 | ||
Document Fiscal Period Focus | FY | ||
Common Stock [Member] | |||
Document Information [Line Items] | |||
Entity Common Stock, Shares Outstanding | 20,086,177 | ||
Nonvoting Common Stock [Member] | |||
Document Information [Line Items] | |||
Entity Common Stock, Shares Outstanding | 6,858,000 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Assets | ||
Cash and due from banks | $ 8,006,000 | $ 14,169,000 |
Interest bearing deposits in banks | 85,329,000 | 66,011,000 |
Cash and cash equivalents | 93,335,000 | 80,180,000 |
Securities available for sale | 144,978,000 | 190,791,000 |
Securities held to maturity (fair value of $44,253 and $44,498, respectively) | 42,075,000 | 42,325,000 |
Loans held for sale | 186,000 | 8,926,000 |
Loans, net of allowance of $12,041 and $19,364, respectively | 606,625,000 | 605,635,000 |
Premises and equipment | 18,812,000 | 19,507,000 |
Other real estate owned | 19,214,000 | 46,197,000 |
Federal Home Loan Bank stock | 7,323,000 | 7,323,000 |
Bank owned life insurance | 9,441,000 | 9,167,000 |
Accrued interest receivable and other assets | 6,733,000 | 7,938,000 |
Total assets | 948,722,000 | 1,017,989,000 |
Deposits | ||
Non-interest bearing | 120,043,000 | 114,910,000 |
Interest bearing | 757,954,000 | 811,931,000 |
Total deposits | 877,997,000 | 926,841,000 |
Repurchase agreements | 1,341,000 | |
Federal Home Loan Bank advances | 3,081,000 | 15,752,000 |
Accrued interest payable and other liabilities | 10,577,000 | 10,640,000 |
Subordinated capital note | 4,050,000 | 4,950,000 |
Junior subordinated debentures | 21,000,000 | 25,000,000 |
Total liabilities | 916,705,000 | 984,524,000 |
Preferred stock, no par | ||
Preferred stock | 2,771,000 | 8,552,000 |
Common stock, no par, 86,000,000 shares authorized, 20,089,533 and 14,890,514 voting, and 6,858,000 and 0 non-voting shares issued and outstanding, respectively | 120,699,000 | 113,238,000 |
Additional paid-in capital | 23,654,000 | 21,442,000 |
Retained deficit | (110,808,000) | (107,595,000) |
Accumulated other comprehensive loss | (4,299,000) | (2,172,000) |
Total common stockholders’ equity | 29,246,000 | 24,913,000 |
Total stockholders' equity | 32,017,000 | 33,465,000 |
Total liabilities and stockholders’ equity | 948,722,000 | 1,017,989,000 |
Series B Preferred Stock [Member] | ||
Preferred stock, no par | ||
Preferred stock | 2,229,000 | |
Series D Preferred Stock [Member] | ||
Preferred stock, no par | ||
Preferred stock | 3,552,000 | |
Series E Preferred Stock [Member] | ||
Preferred stock, no par | ||
Preferred stock | 1,644,000 | 1,644,000 |
Series F Preferred Stock [Member] | ||
Preferred stock, no par | ||
Preferred stock | $ 1,127,000 | $ 1,127,000 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Securities held to maturity, fair value (in Dollars) | $ 44,253 | $ 44,498 |
Loans, allowance (in Dollars) | $ 12,041 | $ 19,364 |
Preferred stock, no par (in Dollars per share) | $ 0 | $ 0 |
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 | 20,089,533 | 14,890,514 |
Common stock, shares outstanding | 20,089,533 | 14,890,514 |
Nonvoting Common Stock [Member] | ||
Common stock, shares issued | 6,858,000 | 0 |
Common stock, shares outstanding | 6,858,000 | 0 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Interest income | |||
Loans, including fees | $ 31,251,000 | $ 33,090,000 | $ 38,015,000 |
Taxable securities | 4,076,000 | 4,945,000 | 3,706,000 |
Tax exempt securities | 764,000 | 936,000 | 933,000 |
Federal funds sold and other | 483,000 | 542,000 | 574,000 |
36,574,000 | 39,513,000 | 43,228,000 | |
Interest expense | |||
Deposits | 6,160,000 | 8,867,000 | 10,137,000 |
Federal Home Loan Bank advances | 95,000 | 124,000 | 157,000 |
Junior subordinated debentures | 606,000 | 612,000 | 622,000 |
Subordinated capital note | 161,000 | 189,000 | 221,000 |
Federal funds purchased and other | 1,000 | 3,000 | 6,000 |
7,023,000 | 9,795,000 | 11,143,000 | |
Net interest income | 29,551,000 | 29,718,000 | 32,085,000 |
Provision (negative provision) for loan losses | (4,500,000) | 7,100,000 | 700,000 |
Net interest income after provision for loan losses | 34,051,000 | 22,618,000 | 31,385,000 |
Non-interest income | |||
Service charges on deposit accounts | 1,851,000 | 1,988,000 | 2,058,000 |
Bank card interchange fees | 839,000 | 765,000 | 718,000 |
Income from bank owned life insurance | 295,000 | 276,000 | 534,000 |
Other real estate owned rental income | 1,346,000 | 256,000 | 399,000 |
Net gain on sales of securities | 1,766,000 | 92,000 | 723,000 |
Gain on extinguishment of junior subordinated debt | 883,000 | ||
Income from fiduciary activities | 517,000 | ||
Other | 715,000 | 702,000 | 970,000 |
7,695,000 | 4,079,000 | 5,919,000 | |
Non-interest expense | |||
Salaries and employee benefits | 15,857,000 | 15,658,000 | 15,501,000 |
Occupancy and equipment | 3,449,000 | 3,497,000 | 3,583,000 |
Loan collection expense | 1,141,000 | 2,994,000 | 4,707,000 |
Other real estate owned expense | 12,302,000 | 5,839,000 | 4,516,000 |
FDIC insurance | 2,212,000 | 2,272,000 | 2,378,000 |
State franchise and deposit tax | 1,120,000 | 1,445,000 | 1,944,000 |
Professional fees | 2,885,000 | 1,665,000 | 1,892,000 |
Communications | 663,000 | 752,000 | 711,000 |
Insurance expense | 589,000 | 575,000 | 648,000 |
Postage and delivery | 400,000 | 407,000 | 423,000 |
Data processing expense | 1,128,000 | 1,106,000 | 184,000 |
Advertising | 560,000 | 563,000 | 308,000 |
Other | 2,653,000 | 2,662,000 | 2,095,000 |
44,959,000 | 39,435,000 | 38,890,000 | |
Loss before income taxes | (3,213,000) | (12,738,000) | (1,586,000) |
Income tax expense (benefit) | 0 | (1,583,000) | |
Net loss | (3,213,000) | (11,155,000) | (1,586,000) |
Less: | |||
Dividends and accretion on preferred stock | 2,362,000 | 2,079,000 | |
Effect of exchange of preferred stock for common stock | (36,104,000) | ||
Earnings (loss) allocated to participating securities | (336,000) | 3,159,000 | (267,000) |
Net income (loss) attributable to common shareholders | $ (2,877,000) | $ 19,428,000 | $ (3,398,000) |
Basic and diluted income (loss) per common share (in Dollars per share) | $ (0.12) | $ 1.59 | $ (0.29) |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Net loss | $ (3,213) | $ (11,155) | $ (1,586) |
Unrealized gain (loss) on securities: | |||
Unrealized gain (loss) arising during the period | (490) | 4,615 | (7,657) |
Amortization during the period of net unrealized loss transferred to held to maturity | 129 | 181 | 22 |
Reclassification of adjustment for gains included in net income | (1,766) | (92) | (723) |
Net unrealized gain/(loss) recognized in comprehensive income | (2,127) | 4,704 | (8,358) |
Tax effect | (1,583) | ||
Other comprehensive income (loss) | (2,127) | 3,121 | (8,358) |
Comprehensive loss | $ (5,340) | $ (8,034) | $ (9,944) |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands | Common Stock [Member] | Series A Preferred Stock [Member] | Series B Preferred Stock [Member] | Series C Preferred Stock [Member] | Series D Preferred Stock [Member] | Series E Preferred Stock [Member] | Series F Preferred Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balances at Dec. 31, 2012 | $ 112,236 | $ 34,840 | $ 3,283 | $ 20,283 | $ (126,517) | $ 3,065 | $ 47,190 | ||||
Balances (in Shares) at Dec. 31, 2012 | 12,002,421 | 35,000 | 317,042 | ||||||||
Balances at Dec. 31, 2013 | $ 112,236 | $ 35,000 | $ 3,283 | 20,887 | (130,182) | (5,293) | 35,931 | ||||
Balances (in Shares) at Dec. 31, 2013 | 12,840,999 | 35,000 | 317,042 | ||||||||
Issuance of unvested stock (in Shares) | 875,569 | ||||||||||
Forfeited unvested stock (in Shares) | (36,991) | ||||||||||
Stock-based compensation expense | 604 | 604 | |||||||||
Net loss | (1,586) | (1,586) | |||||||||
Net change in accumulated other comprehensive income, net of taxes | (8,358) | (8,358) | |||||||||
Dividends on Series A preferred stock | (1,919) | (1,919) | |||||||||
Accretion of Series A preferred stock discount | $ 160 | (160) | |||||||||
Balances at Dec. 31, 2014 | $ 113,238 | $ 2,229 | $ 3,552 | $ 1,644 | $ 1,127 | 21,442 | (107,595) | (2,172) | 33,465 | ||
Balances (in Shares) at Dec. 31, 2014 | 14,890,514 | 40,536 | 64,580 | 6,198 | 4,304 | ||||||
Issuance of unvested stock (in Shares) | 288,888 | ||||||||||
Forfeited unvested stock (in Shares) | (60,801) | ||||||||||
Stock-based compensation expense | 555 | 555 | |||||||||
Net loss | (11,155) | (11,155) | |||||||||
Net change in accumulated other comprehensive income, net of taxes | 3,121 | 3,121 | |||||||||
Effect of exchange of preferred stock for common stock | $ 1,002 | $ (35,000) | $ 2,229 | $ (3,283) | $ 3,552 | $ 1,644 | $ 1,127 | 36,104 | 7,375 | ||
Effect of exchange of preferred stock for common stock (in Shares) | 1,821,428 | (35,000) | 40,536 | (317,042) | 64,580 | 6,198 | 4,304 | ||||
Dividends on Series A preferred stock | (2,362) | (2,362) | |||||||||
Balances at Dec. 31, 2015 | $ 120,699 | $ 1,644 | $ 1,127 | 23,654 | (110,808) | (4,299) | 32,017 | ||||
Balances (in Shares) at Dec. 31, 2015 | 26,947,533 | 6,198 | 4,304 | ||||||||
Issuance of unvested stock (in Shares) | 915,740 | ||||||||||
Terminated stock (in Shares) | (538,479) | ||||||||||
Forfeited unvested stock (in Shares) | (31,842) | ||||||||||
Stock-based compensation expense | 445 | 445 | |||||||||
Net loss | $ (3,213) | (3,213) | |||||||||
Net change in accumulated other comprehensive income, net of taxes | $ (2,127) | (2,127) | |||||||||
Debt to equity exchange | $ 1,680 | $ 1,767 | $ 3,447 | ||||||||
Debt to equity exchange (in Shares) | 1,200,000 | ||||||||||
Conversion of preferred stock to common and non-voting common stock | $ 5,781 | $ (2,229) | $ (3,552) | ||||||||
Conversion of preferred stock to common and non-voting common stock (in Shares) | 10,511,600 | (40,536) | (64,580) |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Cash flows from operating activities | |||
Net loss | $ (3,213,000) | $ (11,155,000) | $ (1,586,000) |
Adjustments to reconcile net loss to net cash from operating activities | |||
Depreciation and amortization | 1,711,000 | 1,738,000 | 2,017,000 |
Provision (negative provision) for loan losses | (4,500,000) | 7,100,000 | 700,000 |
Net amortization on securities | 1,434,000 | 1,614,000 | 2,132,000 |
Stock-based compensation expense | 445,000 | 555,000 | 604,000 |
Gain on extinguishment of junior subordinated debt | (883,000) | ||
Tax benefit from OCI components | 0 | (1,583,000) | |
Net gain on sales of loans held for sale | 204,000 | (53,000) | (87,000) |
Loans originated for sale | (6,652,000) | (2,528,000) | (4,035,000) |
Proceeds from sales of loans held for sale | 6,548,000 | 2,730,000 | 4,469,000 |
Net (gain) loss on sales of other real estate owned | 74,000 | (306,000) | 132,000 |
Net write-down of other real estate owned | 9,855,000 | 4,255,000 | 2,466,000 |
Net realized gain on sales of investment securities | (1,766,000) | (92,000) | (723,000) |
Earnings on bank owned life insurance, net of premium expense | (274,000) | (256,000) | (513,000) |
Net change in accrued interest receivable and other assets | 810,000 | (1,574,000) | 1,364,000 |
Net change in accrued interest payable and other liabilities | 267,000 | 980,000 | 2,585,000 |
Net cash from operating activities | 4,060,000 | 1,425,000 | 9,525,000 |
Cash flows from investing activities | |||
Purchases of available for sale securities | (21,828,000) | (45,803,000) | (72,814,000) |
Sales of available for sale securities | 45,012,000 | 6,251,000 | 8,061,000 |
Maturities and prepayments of available for sale securities | 21,084,000 | 15,573,000 | 26,506,000 |
Calls of held to maturity securities | 1,000,000 | ||
Proceeds from mandatory redemption of Federal Home Loan Bank stock | 2,749,000 | ||
Proceeds from sales of loans not originated for sale | 8,640,000 | ||
Proceeds from sale of other real estate owned | 22,567,000 | 13,084,000 | 30,772,000 |
Loan originations and payments, net | (2,239,000) | 26,923,000 | 139,548,000 |
Purchases of premises and equipment, net | (385,000) | (523,000) | (281,000) |
Net cash from investing activities | 72,851,000 | 19,254,000 | 131,792,000 |
Cash flows from financing activities | |||
Net change in deposits | (48,844,000) | (60,864,000) | (77,354,000) |
Net change in repurchase agreements | (1,341,000) | (1,129,000) | (164,000) |
Repayment of Federal Home Loan Bank advances | (17,671,000) | (23,765,000) | (1,112,000) |
Advances from Federal Home Loan Bank | 5,000,000 | 35,025,000 | |
Repayment of subordinated capital note | (900,000) | (900,000) | (1,125,000) |
Net cash from financing activities | (63,756,000) | (51,633,000) | (79,755,000) |
Net change in cash and cash equivalents | 13,155,000 | (30,954,000) | 61,562,000 |
Beginning cash and cash equivalents | 80,180,000 | 111,134,000 | 49,572,000 |
Ending cash and cash equivalents | 93,335,000 | 80,180,000 | 111,134,000 |
Supplemental cash flow information: | |||
Interest paid | 7,076,000 | 9,475,000 | 10,711,000 |
Income taxes paid (refunded) | 0 | 0 | |
Supplemental non-cash disclosure: | |||
Transfer from loans to other real estate | 5,513,000 | 32,338,000 | 20,606,000 |
Financed sales of other real estate owned | 15,000 | ||
Transfer from available for sale to held to maturity securities | 44,934,000 | ||
AOCI component of transfer from available for sale to held to maturity | $ (1,281,000) | ||
Transfer of loans to loans held for sale at fair value | 8,926,000 | ||
Effect of accrued and unpaid dividends on preferred stock redemption | $ 7,375,000 | ||
Effect of junior subordinated debt to equity exchange | $ 4,330,000 |
Note 1 - Summary of Significant
Note 1 - Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2015 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies [Text Block] | NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Nature of Operations and Principles of Consolidation The Company provides financial services through its offices in Central Kentucky and Louisville. Its primary deposit products are checking, savings, and term certificate accounts, and its primary lending products are residential mortgage, commercial, agricultural, and real estate loans. Substantially all loans are collateralized by specific items of collateral including business assets, commercial real estate, and residential real estate. Commercial loans are expected to be repaid from cash flow from operations of businesses. There are no significant concentrations of loans to any one industry or customer. However, customers’ ability to repay their loans is dependent on the real estate and general economic conditions in the area. Other financial instruments which potentially represent concentrations of credit risk include deposit accounts in other financial institutions and federal funds sold. Use of Estimates Cash and Cash Equivalents Interest Bearing Deposits in Banks Securities Interest income includes amortization of purchase premium or discount. Premiums and discounts on securities are amortized on the level-yield method anticipating prepayments on mortgage backed securities. Gains and losses on sales are recorded on the trade date and determined using the specific identification method. Management evaluates securities for other-than-temporary impairment (“OTTI”) on at least a quarterly basis, and more frequently when economic or market conditions warrant such an evaluation. For securities in an unrealized loss position, management considers the extent and duration of the unrealized loss, and the financial condition and near-term prospects of the issuer. Management also assesses whether it intends to sell, or it is more likely than not that it will be required to sell, a security in an unrealized loss position before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the entire difference between amortized cost and fair value is recognized as impairment through earnings. For debt securities that do not meet the aforementioned criteria, the amount of impairment is split into two components as follows: 1) OTTI related to credit loss, which must be recognized in the income statement and 2) OTTI related to other factors, which is recognized in other comprehensive income. The credit loss is defined as the difference between the present value of the cash flows expected to be collected and the amortized cost basis. For equity securities, the entire amount of impairment is recognized through earnings. Loans Held for Sale Residential mortgage loans originated and intended for sale in the secondary market are carried at the lower of aggregate cost or fair value, as determined by outstanding commitments from investors. Net unrealized losses, if any, are recorded as a valuation allowance and charged to earnings. Mortgage loans held for sale are generally sold with servicing rights released. If sold with servicing retained, the carrying value of mortgage loans sold is reduced by the amount allocated to the servicing right. Gains and losses on sales of mortgage loans are based on the difference between the selling price and the carrying value of the related loan sold. Mortgage banking derivatives used in the ordinary course of business consist of mandatory forward sales contracts and rate lock loan commitments. Forward contracts represent future commitments to deliver loans at a specified price and date and are used to manage interest rate risk on loan commitments and mortgage loans held for sale. Rate lock commitments represent commitments to fund loans at a specific rate. These derivatives involve underlying items, such as interest rates, and are designed to transfer risk. Substantially all of these instruments expire within 60 days from the date of issuance. Notional amounts are amounts on which calculations and payments are based, but which do not represent credit exposure, as credit exposure is limited to the amounts required to be received or paid. Our commitments to deliver loans and our rate lock loan commitments were insignificant at year end. Loans Interest income on mortgage and commercial loans is discontinued at the time the loan is 90 days delinquent unless the loan is well collateralized and in process of collection. Consumer loans are typically charged off no later than 90 days past due. Past due status is based on the contractual terms of the loan. In all cases, loans are placed on nonaccrual or charged off at an earlier date if collection of principal or interest is not expected. All interest accrued but not received for loans placed on nonaccrual is reversed against interest income. Interest received on such loans is accounted for on the cash-basis or cost-recovery method, until qualifying for return to accrual. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured. Allowance for Loan Losses The allowance consists of specific and general components. The specific component relates to loans that are individually classified as impaired. A loan is deemed impaired when, based on current information and events, it is probable that the Company will be unable to collect all amounts due according to the contractual terms of the loan agreement. Loans for which the terms have been modified resulting in a concession, and for which the borrower is experiencing financial difficulties, are considered troubled debt restructurings and treated as impaired. Factors considered in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. We determine the significance of payment delays and payment shortfalls on case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. If a loan is impaired, a portion of the allowance is allocated so that the loan is reported, net, at the present value of estimated future cash flows using the loan’s existing rate or at the fair value of collateral if repayment is expected solely from the collateral. Large groups of smaller balance homogeneous loans, such as consumer and residential real estate loans, are collectively evaluated for impairment, and accordingly, they are not separately identified for impairment disclosures. Troubled debt restructurings are separately identified for impairment disclosures and are measured at the present value of estimated future cash flows using the loan’s effective rate at inception. If a troubled debt restructuring is considered to be a collateral dependent loan, the loan is reported at the fair value of the collateral. For troubled debt restructurings that subsequently default, we determine the amount of reserve in accordance with the accounting policy for the allowance for loan losses. The general component covers non-impaired loans and is based on historical loss experience adjusted for current factors. The historical loss experience is determined by portfolio segment and is based on our actual loss history experienced over the most recent three years with weighting towards the most recent periods. This actual loss experience is supplemented with other economic factors based on the risks present for each portfolio segment. These economic factors include consideration of the following: changes in lending policies, procedures, and practices; effects of any change in risk selection and underwriting standards; national and local economic trends and conditions; industry conditions; trends in volume and terms of loans; experience, ability and depth of lending management and other relevant staff; levels of and trends in delinquencies and impaired loans; levels of and trends in charge-offs and recoveries; and effects of changes in credit concentrations. A portfolio segment is defined as the level at which an entity develops and documents a systematic methodology to determine its allowance for loan losses. We identified the following portfolio segments: commercial, commercial real estate, residential real estate, consumer, agricultural, and other. ● Commercial loans depend on the strength of the industries of the related borrowers and the success of their businesses. Commercial loans are advances for equipment purchases, or to provide working capital, or to meet other financing needs of business enterprises. These loans may be secured by accounts receivable, inventory, equipment or other business assets. Financial information is obtained from the borrowers to evaluate their ability to repay the loans. ● Commercial real estate loans are affected by the local commercial real estate market and the local economy. Commercial real estate loans include loans on properties occupied by the borrowers and on properties for commercial purposes. Construction and development loans are a component of this segment. These loans are generally secured by land under development or homes and commercial buildings under construction. Appraisals are obtained to support the loan amount. Financial information is obtained from the borrowers and/or the individual project to evaluate cash flows sufficiency to service the debt. ● Residential real estate loans are affected by the local residential real estate market, local economy, and, for variable rate mortgages, movement in indices tied to these loans. For owner occupied residential loans, the borrowers’ repayment ability is evaluated through a review of credit scores and debt to income ratios. For non-owner occupied residential loans, such as rental real estate, financial information is obtained from the borrowers and/or the individual project to evaluate cash flows sufficiency to service the debt. Appraisals are obtained to support the loan amount. ● Consumer loans depend on local economies. Consumer loans are generally secured by consumer assets, but may be unsecured. We evaluate the borrowers’ repayment ability through a review of credit scores and an evaluation of debt to income ratios. ● Agriculture loans depend on the industries tied to these loans and are generally secured by livestock, crops, and/or equipment, but may be unsecured. We evaluate the borrowers’ repayment ability through a review of credit scores and an evaluation of debt to income ratios. ● Other loans include loans to municipalities, loans secured by stock, and overdrafts. For municipal loans, we evaluate the borrowers’ revenue streams as well as ability to repay form general funds. For loans secured by stock, we evaluate the market value of the stock securing the loan in relation to the loan amount. Overdrafts are funded based on pre-established criteria related to the deposit account relationship. We analyze key relevant risk characteristics for each portfolio segment and have determined that loans in each segment possess similar general risk characteristics that are analyzed in connection with our loan underwriting processes and procedures. In determining the allocated allowance, we utilize weighted average loss rates for the past three years most heavily weighting the current year. Commercial real estate qualitative adjustment considerations include due to trends in our markets for underlying collateral values and risks related to tenant rents and for economic factors such as decreased sales demand, elevated inventory levels, and declining collateral values. Residential real estate loan considerations include macro factors such as unemployment rates, trends in vacancy rates, and home value trends. The commercial portfolio qualitative adjustments are related to industry concentrations and geographical market. Our agricultural, consumer, and other portfolios are less significant in terms of size and risk is assessed based on the smaller dollar size of these loans and the more geographical areas where the collateral is located. Transfers of Financial Assets Other Real Estate Owned Premises and Equipment Federal Home Loan Bank (FHLB) Stock Intangible Assets Bank Owned Life Insurance Long-Term Assets Repurchase Agreements Benefit Plans Stock-Based Compensation Income Taxes A tax position is recognized as a benefit only if it is "more likely than not" that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the "more likely than not" test, no tax benefit is recorded. The Company recognizes interest and/or penalties related to income tax matters in income tax expense. Loan Commitments and Related Financial Instruments Comprehensive Loss Preferred Shares – Shares, and warrants to purchase 798,915 shares of common stock together having an aggregate book value of approximately $45.7 million. In exchange, we issued common and preferred shares having a fair value of approximately $9.6 million. The effect of this exchange transaction was to increase common stockholders’ equity by approximately $36.1 million, and total stockholders’ equity by $7.4 million. In the exchange transaction, we issued 1,821,428 common shares, 40,536 mandatorily convertible Series B Preferred Shares and 64,580 mandatorily convertible Series D Preferred Shares, which automatically converted into 4,053,600 common shares and 6,458,000 non-voting common shares after shareholder approval on February 25, 2015. We also issued 6,198 Series E Preferred Shares and 4,304 Series F Preferred Shares, both of which series are not convertible into common shares, have a liquidation preference of $1,000 per share, and are entitled to a 2% noncumulative annual dividend if and when declared. Series E and Series F Preferred Shares rank senior to, and have liquidation and dividend preferences over, our common shares and non-voting common shares. Earnings (Loss) Per Common Share Earnings (Loss) Allocated to Participating Securities – We also have issued and outstanding unvested common shares to employees and directors through our stock incentive plan. Earnings (loss) are allocated to these participating securities based on their percentage of total issued and outstanding shares. Loss Contingencies Dividend Restriction Fair Value of Financial Instruments Reclassifications Adoption of New Accounting Standards – The amendments in this ASU clarify that an in substance repossession or foreclosure occurs, and a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan, upon either (1) the creditor obtaining legal title to the residential real estate property upon completion of a foreclosure or (2) the borrower conveying all interest in the residential real estate property to the creditor to satisfy that loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. Additionally, the amendments require interim and annual disclosure of both (1) the amount of foreclosed residential real estate property held by the creditor and (2) the recorded investment in consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure according to local requirements of the applicable jurisdiction. The amendments in this ASU were effective for the Company beginning January 1, 2015 and did not have a material impact on the Company’s financial statements. In May 2014, FASB issued Accounting Standards Update 2014-09, Revenue from Contracts with Customers (Topic 606). The ASU creates a new topic, Topic 606, to provide guidance on revenue recognition for entities that enter into contracts with customers to transfer goods or services or enter into contracts for the transfer of nonfinancial assets. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Additional disclosures are required to provide quantitative and qualitative information regarding the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The new guidance is effective for annual reporting periods, and interim reporting periods within those annual periods, beginning after December 15, 2016. Early adoption is not permitted. Management is currently evaluating the impact of the adoption of this guidance on the Company’s financial statements. In June 2014, the FASB issued an update (ASU No. 2014-12, Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period) impacting FASB ASC 860, Transfers and Servicing. Generally, an award with a performance target also requires an employee to render service until the performance target is achieved. In some cases, however, the terms of an award may provide that the performance target could be achieved after an employee completes the requisite service period. The amendments in this update require that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. An entity should apply guidance in Topic 718 as it relates to awards with performance conditions that affect vesting to account for such awards. As such, the performance target should not be reflected in estimating the grant-date fair value of the award. Compensation cost should be recognized in the period in which it becomes probable that the performance target will be achieved and should represent the compensation cost attributable to the period for which the service has already been rendered. The amendments in this update became effective for interim and annual periods beginning after December 15, 2015 and are not expected to have a material impact on the consolidated financial statements. In August 2014, the FASB amended existing guidance related to the disclosures about an entity’s ability to continue as a going concern. These amendments are intended to define management’s responsibility to evaluate whether there is substantial doubt about an organization’s ability to continue as a going concern and to provide related footnote disclosures. These amendments provide guidance to an organization’s management, with principles and definitions that are intended to reduce diversity in the timing and content of disclosures that are commonly provided by organizations in the financial statement footnotes. The amendments are effective for annual periods ending after December 15, 2016, and interim periods within annual periods beginning after December 15, 2016. Early application is permitted for annual or interim reporting periods for which the financial statements have not previously been issued. The effect of adopting this standard is not expected to have a material effect on the Company’s operating results or financial condition. In August 2014, the FASB issued an update (ASU No. 2014-14, Classification of Certain Government-Guaranteed Mortgage Loans upon Foreclosure) impacting FASB ASC 310-40, Receivables – Troubled Debt Restructuring by Creditors. This update affects creditors that hold government-guaranteed mortgage loans. The amendments in this update require that a mortgage loan be derecognized and that a separate other receivable be recognized if the following conditions are met: (1) The loan has a government guarantee that is not separable from the loan before foreclosure. (2) At the time of foreclosure, the creditor has the intent to convey the real estate property to the guarantor and make a claim on the guarantee, and the creditor has the ability to recover under the claim. (3) At the time of foreclosure, the claim that is determined on the basis of the fair value of the real estate is fixed. Upon foreclosure, the separate other receivable should be measured based on the amount of the loan balance (principal and interest) expected to be recovered from the guarantor. The amendments in this update became effective for interim and annual periods beginning after December 15, 2014 and did not have a material impact on the consolidated financial statements. In April 2015, the FASB issued Accounting Standards Update No. 2015-03, Interest – Imputation of Interest, which changes the presentation of debt issuance costs in financial statements. Under the ASU, an entity presents such costs in the balance sheet as a direct deduction from the related debt liability rather than as an asset. Amortization of the costs is reported as interest expense. Subsequent to the issuance of ASU 2015-03, the SEC staff made an announcement regarding the presentation of debt issuance costs associated with line-of-credit arrangements, which was codified in August 2015 when FASB issued ASU 2015-15. This guidance allows an entity to present debt issuance costs as an asset and amortize the deferred debt issuance costs ratably over the term of the line-of-credit arrangement, regardless of whether there are any outstanding borrowings on the line-of-credit arrangement. The SEC guidance is effective upon adoption of ASU 2015-03. ASU 2015-03 is effective for fiscal years and interim periods beginning after December 15, 2016. The adoption of ASU 2015-03 is not expected to have a significant impact on Company’s operations or financial statements. In January 2016, the FASB issued an update (ASU No. 2016-01, Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities). The amendments in this update impact public business entities as follows: 1) Require equity investments (except those accounted for under the equity method of accounting or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income. 2) Simplify the impairment assessment of equity investments without readily determinable fair values by requiring a qualitative assessment to identify impairment. When a qualitative assessment indicates that impairment exists, an entity is required to measure the investment at fair value. 3) Eliminate the requirement to disclose the methods and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet. 4) Require entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes. 5) Require an entity to present separately in other comprehensive income the portion of the total change in fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments. 6) Require separate presentation of financial assets and financial liabilities by measurement category and form of financial asset (that is, securities or loans and receivables) on the balance sheet or the accompanying notes to the financial statements. 7) Clarify that an entity should evaluate the need for a valuation allowance on a deferred tax asset related to available-for-sale securities in combination with the entity’s other deferred tax assets. The amendments in this update become effective for annual periods and interim periods within those annual periods beginning after December 15, 2017. We are currently evaluating the impact of adopting the new guidance on the consolidated financial statements, but it is not expected to have a material impact. |
Note 2 - Going Concern Consider
Note 2 - Going Concern Considerations and Future Plans | 12 Months Ended |
Dec. 31, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Substantial Doubt about Going Concern [Text Block] | N OTE 2 – GOING CONCERN CONSIDERATIONS AND FUTURE PLANS Our 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 discussion create substantial doubt about the Company’s ability to continue as a going concern. For the year ended December 31, 2015, we reported a net loss of $3.2 million compared with net loss of $11.2 million for the year ended December 31, 2014 and a net loss of $1.6 million for the year ended December 31, 2013. After deductions for dividends and accretion on Preferred Shares, allocating losses to participating securities, and the effect of the exchange of Preferred Shares for Common Shares, net loss attributable to common shareholders was $2.9 million for the year ended December 31, 2015, compared with net income attributable to common shareholders of $19.4 million for the year ended December 31, 2014, and a net loss attributable to common shareholders of $3.4 million for the year ended December 31, 2013. The net loss for 2015 was primarily attributable to OREO expense of $12.3 million resulting from fair value write-downs for reductions in listing prices for certain properties, updated appraisals, and certain properties liquidated through auctions, as well as ongoing operating expense. We also recorded a negative provision for loan losses of $4.5 million for the year ended 2015. The negative provision expense was primarily driven by declining historical loss rates, improvements in asset quality, and management’s assessment of risk within the portfolio. Substandard loans decreased by $55.1 million or 60.2% during 2015. Net charge-offs were 2.8 million for 2015 compared to $15.9 million for 2014. Nonaccrual loans decreased $33.1 million or 70.1% during 2015 to $14.1 million. Non-performing loans were 2.28% of total loans and non-performing assets were 3.51% of total assets, at December 31, 2015 compared to 7.57% and 9.19%, respectively, at December 31, 2014. Despite the substantial reductions in non-performing assets during the year, the Bank’s level of non-performing assets remains elevated. Beginning with the fourth quarter of 2011, we have been deferring interest payable on the junior subordinated debentures held by our trust subsidiaries, requiring our trust subsidiaries to defer distributions on our trust preferred securities held by investors. 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 at the end of the third quarter of 2016. Deferred distributions on our trust preferred securities, which totaled $2.5 million as of December 31, 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 stock will be entitled to receive liquidation distributions totaling $10.5 million before any distribution can be made to the holders of our common shares. We continue to be involved in various legal proceedings. We dispute the material factual allegations made against us, and 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 24 – “Contingencies”. O ur Consent Order with the FDIC and KDFI requires the Bank to maintain a minimum Tier 1 leverage ratio of 9% and a minimum total risk based capital ratio of 12%. As of December 31, 2015, the Bank’s Tier 1 leverage ratio and total risk based capital ratio were 6.08% and 10.58%, respectively, both less than the minimum capital ratios required by the Consent Order. If the Bank should be unable to reach the required capital levels, and if directed in writing by the FDIC, the Consent Order requires the Bank to develop, adopt and implement a written plan to sell or merge itself into another federally insured financial institution or otherwise obtain a capital investment into the Bank sufficient to recapitalize the Bank. The Bank has not been directed by the FDIC to implement such a plan. In order to meet the 9.0% Tier 1 leverage ratio and 12.0% total risk based capital ratio 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. ● Executing on the sale of OREO and reinvestment in quality income producing assets. ● 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. 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. The Consent Order requires the Bank to obtain the written consent of both agencies before declaring or paying any future dividends to the Company, which are its principal source of revenue. Since the Bank is unlikely to be in a position to pay dividends to the Company until the Consent Order is satisfied and the Bank returns to profitability, cash inflows for the Company are limited to the issuance of new debt or the issuance of capital securities. As of December 31, 2015, we could issue approximately 5 million common shares while still preserving the value of our net operating losses (“NOLs”) under Section 382 of the Internal Revenue Code . The Company’s liquid assets were $1.0 million at December 31, 2015. Ongoing operating expenses of the Company are forecast at approximately $1.0 million for the next twelve months. Our consolidated financial statements do not include any adjustments that may result should the Company be unable to continue as a going concern. |
Note 3 - Securities
Note 3 - Securities | 12 Months Ended |
Dec. 31, 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 and held to maturity 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) December 31, 201 5 Available for sale U.S. Government and federal agency $ 33,491 $ 146 $ (375 ) $ 33,262 Agency mortgage-backed: residential 102,135 907 (380 ) 102,662 State and municipal 6,555 306 — 6,861 Corporate bonds 2,321 — (128 ) 2,193 Total available for sale $ 144,502 $ 1,359 $ (883 ) $ 144,978 Amortized Cost Gross Unrecognized Gains Gross Unrecognized Losses Fair Value Held to maturity State and municipal $ 42,075 $ 2,178 $ — $ 44,253 Total held to maturity $ 42,075 $ 2,178 $ — $ 44,253 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (in thousands) December 31, 201 4 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: 201 5 2014 2013 (in thousands) Proceeds $ 45,012 $ 6,251 $ 8,061 Gross gains 1,902 132 873 Gross losses 136 — 150 The tax provision related to these net gains and losses realized on sales were $618,000, $46,000, and $253,000, respectively. The amortized cost and fair value of our debt securities are shown by contractual maturity. Expected maturities may differ from actual maturities if borrowers have the right to call or prepay obligations with or without call or prepayment penalties. Securities not due at a single maturity date, mortgage-backed, are shown separately. December 31, 201 5 Amortized Cost Fair Value (in thousands) Maturity Available for sale Within one year $ 6,113 $ 6,053 One to five years 8,211 8,512 Five to ten years 28,043 27,751 Agency mortgage-backed: residential 102,135 102,662 Total $ 144,502 $ 144,978 Held to maturity One to five years $ 16,579 $ 17,237 Five to ten years 21,938 23,222 Beyond ten years 3,558 3,794 Total $ 42,075 $ 44,253 Securities pledged at year-end 2015 and 2014 had carrying values of approximately $68.0 million and $80.8 million, respectively, and were pledged to secure public deposits and repurchase agreements. At December 31, 2015 and 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 December 31, 2015 and 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 year-end 2015 and 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 year-end 2015 and 2014, aggregated by investment category and length of time that 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) 201 5 Available for sale U.S. Government and federal agency $ 7,058 $ (44 ) $ 14,527 $ (331 ) $ 21,585 $ (375 ) Agency mortgage-backed: residential 36,325 (271 ) 3,856 (109 ) 40,181 (380 ) Corporate bonds 747 (18 ) 1,446 (110 ) 2,193 (128 ) Total temporarily impaired $ 44,130 $ (333 ) $ 19,829 $ (550 ) $ 63,959 $ (883 ) 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) 201 4 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 unrealized loss position at December 31, 2015 or 2014. The Company evaluates securities for other-than-temporary impairment at least on a quarterly basis, and more frequently when economic or market concerns warrant such evaluation. 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. As of December 31, 2015, management does not believe any securities in our portfolio with unrealized losses should be classified as other than temporarily impaired at this time. Management currently intends to hold all securities with unrealized losses until recovery, which for fixed income securities may be at maturity. |
Note 4 - Loans
Note 4 - Loans | 12 Months Ended |
Dec. 31, 2015 | |
Receivables [Abstract] | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | NOTE 4 – LOANS Loans at year-end by class were as follows: 201 5 201 4 (in thousands) Commercial $ 86,176 $ 60,936 Commercial Real Estate: Construction 33,154 33,173 Farmland 76,412 77,419 Nonfarm nonresidential 140,570 175,452 Residential Real Estate: Multi-family 44,131 41,891 1-4 Family 201,478 197,278 Consumer 10,010 11,347 Agriculture 26,316 26,966 Other 419 537 Subtotal 618,666 624,999 Less: Allowance for loan losses (12,041 ) (19,364 ) Loans, net $ 606,625 $ 605,635 The following table presents the activity in the allowance for loan losses by portfolio segment for the year ended December 31, 2015: Commercial Commercial Real Estate Residential Real Estate Consumer Agriculture Other Total (in thousands) Beginning balance $ 2,046 $ 10,931 $ 5,787 $ 274 $ 319 $ 7 $ 19,364 Negative provision for loan losses (1,255 ) (2,713 ) (316 ) (115 ) (87 ) (14 ) (4,500 ) Loans charged off (696 ) (2,879 ) (2,171 ) (221 ) (118 ) (47 ) (6,132 ) Recoveries 723 1,654 684 184 8 56 3,309 Ending balance $ 818 $ 6,993 $ 3,984 $ 122 $ 122 $ 2 $ 12,041 The following table presents the activity in the allowance for loan losses by portfolio segment for the year ended December 31, 2014: Commercial Commercial Real Estate Residential Real Estate Consumer Agriculture Other Total (in thousands) Beginning balance $ 3,221 $ 16,414 $ 7,762 $ 416 $ 305 $ 6 $ 28,124 Provision for loan losses (690 ) 6,395 1,364 25 31 (25 ) 7,100 Loans charged off (1,099 ) (13,846 ) (4,097 ) (335 ) (30 ) (19 ) (19,426 ) Recoveries 614 1,968 758 168 13 45 3,566 Ending balance $ 2,046 $ 10,931 $ 5,787 $ 274 $ 319 $ 7 $ 19,364 The following table presents the activity in the allowance for loan losses by portfolio segment for the year ended December 31, 2013: Commercial Commercial Real Estate Residential Real Estate Consumer Agriculture Other Total (in thousands) Beginning balance $ 4,402 $ 34,768 $ 16,235 $ 857 $ 403 $ 15 $ 56,680 Provision for loan losses 435 1,691 (1,261 ) 66 (222 ) (9 ) 700 Loans charged off (2,828 ) (21,176 ) (7,703 ) (773 ) (128 ) – (32,608 ) Recoveries 1,212 1,131 491 266 252 – 3,352 Ending balance $ 3,221 $ 16,414 $ 7,762 $ 416 $ 305 $ 6 $ 28,124 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, 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 $ – $ 43 $ 385 $ – $ – $ – $ 428 Collectively evaluated for impairment 818 6,950 3,599 122 122 2 11,613 Total ending allowance balance $ 818 $ 6,993 $ 3,984 $ 122 $ 122 $ 2 $ 12,041 Loans: Loans individually evaluated for impairment $ 1,112 $ 12,819 $ 17,673 $ 20 $ 152 $ – $ 31,776 Loans collectively evaluated for impairment 85,064 237,317 227,936 9,990 26,164 419 586,890 Total ending loans balance $ 86,176 $ 250,136 $ 245,609 $ 10,010 $ 26,316 $ 419 $ 618,666 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 Im paired 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 had been provided. The following table presents information related to loans individually evaluated for impairment by class of loan as of and for the year ended December 31, 2015: Unpaid Principal Balance Recorded Investment Allowance For Loan Losses Allocated Average Recorded Investment Interest Income Recognized Cash Basis Income Recognized (in thousands) With No Related Allowance Recorded: Commercial $ 1,558 $ 1,112 $ — $ 1,526 $ 5 $ 5 Commercial real estate: Construction 278 262 — 1,993 14 1 Farmland 6,004 4,263 — 4,497 114 114 Nonfarm nonresidential 11,256 7,829 — 16,073 263 9 Residential real estate: Multi-family 32 32 — 35 — — 1-4 Family 14,066 11,756 — 13,584 456 99 Consumer 118 20 — 23 — — Agriculture 260 152 — 206 — — Other — — — 49 5 5 Subtotal 33,572 25,426 — 37,986 857 233 With An Allowance Recorded: Commercial — — — 13 — — Commercial real estate: Construction — — — — — — Farmland — — — 63 — — Nonfarm nonresidential 574 465 43 4,591 25 — Residential real estate: Multi-family 4,195 4,195 57 4,229 204 — 1-4 Family 1,690 1,690 328 1,705 89 — Consumer — — — 8 — — Agriculture — — — — — — Other — — — — — — Subtotal 6,459 6,350 428 10,609 318 — Total $ 40,031 $ 31,776 $ 428 $ 48,595 $ 1,175 $ 233 The following table presents information related to loans individually evaluated for impairment by class of loan as of and for the year ended December 31, 2014: Unpaid Principal Balance Recorded Investment Allowance For Loan Losses Allocated Average Recorded Investment Interest Income Recognized Cash Basis Income Recognized (in thousands) With No Related Allowance Recorded: Commercial $ 2,546 $ 1,978 $ — $ 2,256 $ 64 $ 55 Commercial real estate: Construction 4,714 4,100 — 5,446 12 — Farmland 6,636 4,739 — 6,150 75 75 Nonfarm nonresidential 34,437 22,418 — 39,852 693 128 Residential real estate: Multi-family 81 81 — 1,664 — — 1-4 Family 18,496 15,266 — 22,670 676 226 Consumer 93 29 — 14 — — Agriculture 276 263 — 277 3 3 Other 367 122 — 255 16 13 Subtotal 67,646 48,996 — 78,584 1,539 500 With An Allowance Recorded: Commercial 145 44 33 961 23 — Commercial real estate: Construction — — — 589 16 — Farmland 658 315 38 112 — — Nonfarm nonresidential 19,454 16,569 453 13,933 360 — Residential real estate: Multi-family 4,266 4,266 91 4,426 180 — 1-4 Family 1,791 1,771 136 1,840 78 — Consumer 32 32 1 49 3 — Agriculture — — — — — — Other — — — — — — Subtotal 26,346 22,997 752 21,910 660 — Total $ 93,992 $ 71,993 $ 752 $ 100,494 $ 2,199 $ 500 The following table presents information related to loans individually evaluated for impairment by class of loan as of and for the year ended December 31, 2013: Unpaid Principal Balance Recorded Investment Allowance For Loan Losses Allocated Average Recorded Investment Interest Income Recognized Cash Basis Income Recognized (in thousands) With No Related Allowance Recorded: Commercial $ 3,569 $ 2,623 $ — $ 3,829 $ 81 $ 30 Commercial real estate: Construction 9,022 8,042 — 15,511 232 164 Farmland 9,977 7,890 — 8,614 270 268 Nonfarm nonresidential 75,331 57,397 — 43,419 851 366 Residential real estate: Multi-family 9,332 7,514 — 6,475 7 3 1-4 Family 39,929 34,779 — 31,066 495 116 Consumer 9 9 — 33 1 — Agriculture 401 322 — 213 — — Other 875 631 — 236 19 11 Subtotal 148,445 119,207 — 109,396 1,956 958 With An Allowance Recorded: Commercial 2,372 2,372 290 1,698 48 — Commercial real estate: Construction 1,525 1,260 218 5,129 20 — Farmland 246 246 65 1,224 35 — Nonfarm nonresidential 20,748 19,495 2,062 36,031 840 — Residential real estate: Multi-family 4,995 4,995 393 7,187 204 — 1-4 Family 2,224 2,224 434 8,222 177 — Consumer 84 84 9 122 2 — Agriculture — — — 2 — — Other — — — 313 9 — Subtotal 32,194 30,676 3,471 59,928 1,335 — Total $ 180,639 $ 149,883 $ 3,471 $ 169,324 $ 3,291 $ 958 Troubled Debt Restructuring A troubled debt restructuring (TDR) is where the Bank has agreed to a loan modification in the form of a concession for a borrower who is experiencing financial difficulty. The majority of the Bank’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 Bank has allocated reserves for these loans to reflect the present value of the concessionary terms granted to the customer. The following table presents the types of TDR loan modifications by portfolio segment outstanding as of December 31, 2015 and 2014: TDRs Performing to Modified Terms TDRs Not Performing to Modified Terms Total TDRs (in thousands) December 31, 2015 Commercial Rate reduction $ — $ 68 $ 68 Principal deferral — 439 439 Commercial Real Estate: Construction Rate reduction 262 — 262 Farmland Principal deferral — 2,365 2,365 Nonfarm nonresidential Rate reduction 5,637 50 5,687 Principal deferral — 622 622 Residential Real Estate: Multi-family Rate reduction 4,195 — 4,195 1-4 Family Rate reduction 7,346 — 7,346 Total TDRs $ 17,440 $ 3,544 $ 20,984 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 Nonfarm nonresidential 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 December 31, 2015 and 2014, 83% and 52%, respectively, of the Company’s TDRs were performing according to their modified terms. The Company allocated $179,000 and $579,000 as of December 31, 2015 and 2014, respectively, in reserves to customers whose loan terms have been modified in TDRs. The Company has committed to lend no additional amounts to customers as of December 31, 2015 or 2014 with outstanding loans that are 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 subsequent to 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 twelve months ended December 31, 2015 or 2014. Non-performing Loans Non-performing loans include impaired loans 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 December 31, 2015 and 2014: Nonaccrual Loans Past Due 90 Days And Over Still Accruing 201 5 201 4 201 5 201 4 (in thousands) Commercial $ 1,112 $ 1,978 $ — $ — Commercial Real Estate: Construction — 3,831 — — Farmland 4,263 5,054 — — Nonfarm nonresidential 2,657 26,892 — — Residential Real Estate: Multi-family 32 80 — — 1-4 Family 5,851 8,925 — 151 Consumer 20 30 — — Agriculture 152 263 — — Other — 122 — — Total $ 14,087 $ 47,175 $ — $ 151 The following table presents the aging of the recorded investment in past due loans by class as of December 31, 2015 and 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) December 31, 201 5 Commercial $ 78 $ — $ — $ 1,112 $ 1,190 Commercial Real Estate: Construction — — — — — Farmland 456 — — 4,263 4,719 Nonfarm nonresidential 326 — — 2,657 2,983 Residential Real Estate: Multi-family — — — 32 32 1-4 Family 2,225 241 — 5,851 8,317 Consumer 41 — — 20 61 Agriculture 7 — — 152 159 Other — — — — — Total $ 3,133 $ 241 $ — $ 14,087 $ 17,461 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, 201 4 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 December 31, 2015 and 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) December 31, 201 5 Commercial $ 81,570 $ 2,953 $ — $ 1,653 $ — $ 86,176 Commercial Real Estate: Construction 27,603 5,289 — 262 — 33,154 Farmland 65,476 4,844 — 6,092 — 76,412 Nonfarm nonresidential 111,901 22,687 1,328 4,654 — 140,570 Residential Real Estate: Multi-family 35,300 4,879 — 3,952 — 44,131 1-4 Family 164,490 17,636 67 19,285 — 201,478 Consumer 9,323 474 — 213 — 10,010 Agriculture 21,402 4,601 — 313 — 26,316 Other 419 — — — — 419 Total $ 517,484 $ 63,363 $ 1,395 $ 36,424 $ — $ 618,666 Pass Watch Special Mention Substandard Doubtful Total (in thousands) December 31, 201 4 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 - Premises and Equipment
Note 5 - Premises and Equipment | 12 Months Ended |
Dec. 31, 2015 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment Disclosure [Text Block] | NOTE 5 – PREMISES AND EQUIPMENT Year-end premises and equipment were as follows: 201 5 201 4 (in thousands) Land and buildings $ 24,651 $ 24,711 Furniture and equipment 10,719 10,314 35,370 35,025 Accumulated depreciation (16,558 ) (15,518 ) $ 18,812 $ 19,507 Depreciation expense was $1,023,000, $940,000 and $1,043,000 for 2015, 2014 and 2013, respectively. |
Note 6 - Other Real Estate Owne
Note 6 - Other Real Estate Owned | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure Text Block [Abstract] | |
Real Estate Owned [Text Block] | N OTE 6 – 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 OREO. 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: 201 5 201 4 (in thousands) Commercial Real Estate: Construction, land development, and other land $ 12,749 $ 18,748 Farmland — 669 Nonfarm nonresidential 6,967 14,860 Residential Real Estate: Multi-family — 4,988 1-4 Family 128 7,998 19,844 47,263 Valuation allowance (630 ) (1,066 ) $ 19,214 $ 46,197 Activity relating to the other real estate owned valuation allowance during the years indicated is as follows: 201 5 201 4 20 13 (in thousands) Beginning balance $ 1,066 $ 230 $ 1,154 Provision to allowance 9,855 4,255 2,466 Write-downs (10,291 ) (3,419 ) (3,390 ) Ending balance $ 630 $ 1,066 $ 230 Residential loans secured by 1-4 family residential properties in the process of foreclosure totaled $934,000 and $3.6 million at December 31, 2015 and December 31, 2014, respectively. Activity relating to other real estate owned during the years indicated is as follows: 201 5 201 4 20 13 (in thousands) OREO Activity OREO as of January 1 $ 46,197 $ 30,892 $ 43,671 Real estate acquired 5,513 32,338 20,606 Valuation adjustments for declining market values (9,855 ) (4,255 ) (2,466 ) Net gain (loss) on sale (74 ) 306 (132 ) Proceeds from sale of properties (22,567 ) (13,084 ) (30,787 ) OREO as of December 31 $ 19,214 $ 46,197 $ 30,892 OREO rental income totaled $1.3 million, $256,000, and $399,000 for the years ended December 31, 2015, 2014, and 2013, respectively. Expenses related to other real estate owned include: 201 5 201 4 20 13 (in thousands) Net (gain) loss on sales $ 74 $ (306 ) $ 132 Provision to allowance 9,855 4,255 2,466 Operating expense 2,373 1,890 1,918 Total $ 12,302 $ 5,839 $ 4,516 |
Note 7 - Intangible Assets
Note 7 - Intangible Assets | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure Text Block [Abstract] | |
Intangible Assets Disclosure [Text Block] | NOTE 7 – INTANGIBLE ASSETS Acquired intangible assets were as follows as of year-end: 201 5 201 4 Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization (in thousands) Amortized intangible assets: Core deposit intangibles $ 4,183 $ 3,740 $ 4,183 $ 3,405 Aggregate amortization expense was $335,000, $397,000 and $428,000 for 2015, 2014 and 2013, respectively. Estimated aggregate amortization expense for intangible assets for each of the next five years is as follows (in thousands): 2016 $ 334 2017 109 2018 — 2019 — 2020 — |
Note 8 - Deposits
Note 8 - Deposits | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure Text Block [Abstract] | |
Deposit Liabilities Disclosures [Text Block] | NOTE 8 – DEPOSITS The following table shows deposits by category: December 31, 201 5 December 31, 201 4 (in thousands) Non-interest bearing $ 120,043 $ 114,910 Interest checking 97,515 91,086 Money market 125,935 109,734 Savings 34,677 36,430 Certificates of deposit 499,827 574,681 Total $ 877,997 $ 926,841 Time deposits of $250,000 or more were approximately $28.4 million and $34.4 million at year-end 2015 and 2014, respectively. Scheduled maturities of total time deposits for each of the next five years are as follows (in thousands): Total 2016 $ 306,987 2017 112,344 2018 10,835 2019 31,108 2020 38,553 Thereafter — $ 499,827 |
Note 9 - Securities Sold Under
Note 9 - Securities Sold Under Agreements to Repurchase | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure Text Block [Abstract] | |
Repurchase Agreements, Resale Agreements, Securities Borrowed, and Securities Loaned Disclosure [Text Block] | NOTE 9 – SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE Securities sold under agreements to repurchase are financing arrangements that mature within two years. At maturity, the securities underlying the agreements are returned to the Company. Securities sold under agreements to repurchase are secured by agency, mortgage-backed, and municipal securities. Information concerning securities sold under agreements to repurchase is summarized as follows: 201 5 201 4 201 3 (in thousands) Balance at year-end $ — $ 1,341 $ 2,470 Average daily balance during the year $ 587 $ 2,255 $ 3,113 Average interest rate during the year 0.14 % 0.15 % 0.20 % Maximum month-end balance during the year $ 1,341 $ 3,473 $ 4,747 Weighted average interest rate at year-end — % 0.14 % 0.17 % Fair value of securities sold under agreements to repurchase at year-end $ — $ 1,341 $ 2,470 |
Note 10 - Advances from Federal
Note 10 - Advances from Federal Home Loan Bank | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure Text Block [Abstract] | |
Federal Home Loan Bank Advances, Disclosure [Text Block] | NOTE 10 – ADVANCES FROM FEDERAL HOME LOAN BANK At year-end, advances from the Federal Home Loan Bank were as follows: 201 5 201 4 (in thousands) Monthly amortizing advances with fixed rates from 0.00% to 5.25% and maturities ranging from 2017 through 2033, averaging 2.65% for 2015 and 1.02% for 2014 $ 3,081 $ 15,752 Each advance is payable per terms on agreement, with a prepayment penalty. No prepayment penalties were incurred during 2015 or 2014. The advances were collateralized by approximately $128.8 million and $131.5 million of first mortgage loans, under a blanket lien arrangement at year-end 2015 and 2014, respectively. Our borrowing capacity is based on the market value of the underlying pledged loans rather than the unpaid principal balance of the pledged loans. The availability of our borrowing capacity could be affected by our financial position and the FHLB could require additional collateral or, among other things, exercise its rights to deny a funding request, at its discretion. Additionally, any new advances are limited to a one year maturity or less. At December 31, 2015, our additional borrowing capacity with the FHLB was $26.4 million. Scheduled principal payments on the above during the next five years and thereafter (in thousands): Advances 2016 $ 670 2017 539 2018 265 2019 185 2020 486 Thereafter 936 $ 3,081 At year-end 2015, the Company had a $5.0 million federal funds line of credit available on a secured basis from a correspondent institution; however, the availability of this line could be affected by our financial position. |
Note 11 - Subordinated Capital
Note 11 - Subordinated Capital Note | 12 Months Ended |
Dec. 31, 2015 | |
Subordinated Borrowings [Abstract] | |
Subordinated Borrowings Disclosure [Text Block] | NOTE 1 1 – SUBORDINATED CAPITAL NOTE The outstanding principal amount of the subordinated capital note issued by the Bank totaled $4.1 million at December 31, 2015. The note is unsecured, bears interest at the BBA three-month LIBOR floating rate plus 300 basis points, and qualifies as Tier 2 capital until five years before maturity on July 1, 2020. During this five-year period, one-fifth of principal amount of the subordinated note is excluded from Tier 2 capital each year and until fully excluded from Tier 2 capital during the year before maturity. Principal payments of $225,000 plus interest are due quarterly. Scheduled principal payments of $900,000 per year are due each of the next four years with $450,000 due thereafter. The interest rate on this note was 3.28% and 3.24% at December 31, 2015 and 2014, respectively. |
Note 12 - Junior Subordinated D
Note 12 - Junior Subordinated Debentures | 12 Months Ended |
Dec. 31, 2015 | |
Debt Disclosure [Abstract] | |
Debt Disclosure [Text Block] | NOTE 12 – JUNIOR SUBORDINATED DEBENTURES The junior subordinated debentures are redeemable at par prior to maturity at the option of the Company as defined within the trust indenture. The Company has the option to defer interest payments on the junior subordinated debentures from time to time for a period not to exceed 20 consecutive quarters. If payments are deferred, the Company is prohibited from paying dividends on its preferred and common shares. Effective with the fourth quarter of 2011, we began deferring interest payments on the junior subordinated notes which resulted in a deferral of distributions on our trust preferred securities. Our deferral period expires in the third quarter of 2016. Therefore, future cash dividends on our common stock are subject to the prior payment of all deferred distributions on our trust preferred securities. Dividends accrued and unpaid on our junior subordinated debentures totaled $2.5 million at December 31, 2015. 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 of 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 1.2 million 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 the issuance of 400,000 common shares resulting in an $883,000 gain on extinguishment of debt. The $883,000 gain was determined based upon the difference in the $560,000 fair value of the common shares issued and the $1.4 million book value of the debt securities and accrued interest thereon tendered to the Company by the unrelated third party on the date of closing. The fair value of the shares issued to the unrelated third party was computed by multiplying the 400,000 shares issued by $1.40 per share, which was the NASDAQ closing price of the Company’s common stock on September 30, 2015. The subsidiary also received two-thirds of the Trust Securities having a book value of $2.9 million from related parties in exchange for the issuance of 400,000 common shares and 400,000 non-voting common shares. In accordance with ASC 470-50-40-2 and SEC Guidance 405-20-40-1.J, the debt and interest liability exchanged with related parties was treated as a capital transaction. A summary of the junior subordinated debentures is as follows: Description Issuance Date Interest Rate (1) Junior Subordinated Debt Owed To Trust End of 20 Quarter Deferral Period Maturity Date (2) Porter Statutory Trust II 2/13/2004 3-month LIBOR + 2.85% $ 5,000,000 9/19/2016 2/13/2034 Porter Statutory Trust III 4/15/2004 3-month LIBOR + 2.79% 3,000,000 9/18/2016 4/15/2034 Porter Statutory Trust IV 12/14/2006 3-month LIBOR + 1.67% 10,000,000 9/01/2016 3/01/2037 Ascencia Statutory Trust I 2/13/2004 3-month LIBOR + 2.85% 3,000,000 9/19/2016 2/13/2034 $ 21,000,000 (1) As of December 31, 2015, the 3-month LIBOR was 0.61%. (2) The debentures are callable at our option at their principal amount plus accrued interest. |
Note 13 - Other Benefit Plans
Note 13 - Other Benefit Plans | 12 Months Ended |
Dec. 31, 2015 | |
Postemployment Benefits [Abstract] | |
Postemployment Benefits Disclosure [Text Block] | NOTE 13 – OTHER BENEFIT PLANS 401( k ) Plan Supplemental Executive Retirement Plan The Company purchased life insurance on the participants of the plan. The cash surrender value of all insurance policies was $9,441,000 and $9,167,000 at December 31, 2015 and 2014, respectively. Income earned from the cash surrender value of life insurance totaled $295,000, $276,000 and $534,000 for the years ended December 31, 2015, 2014 and 2013, respectively. The income is recorded as other non-interest income. |
Note 14 - Income Taxes
Note 14 - Income Taxes | 12 Months Ended |
Dec. 31, 2015 | |
Income Tax Disclosure [Abstract] | |
Income Tax Disclosure [Text Block] | NOTE 14 – INCOME TAXES Income tax expense (benefit) was as follows: 201 5 201 4 20 13 (in thousands) Current $ — $ — $ — Deferred 5,258 2,151 9,489 Net operating loss (5,975 ) (6,651 ) (10,430 ) Change in valuation allowance 717 2,917 941 $ — $ (1,583 ) $ — Effective tax rates differ from federal statutory rate of 35% applied to income (loss) before income taxes due to the following: 201 5 201 4 20 13 (in thousands) Federal statutory rate times financial statement income (loss) $ (1,125 ) $ (4,458 ) $ (555 ) Effect of: Valuation allowance 717 2,917 941 Tax-exempt income (264 ) (319 ) (324 ) Nontaxable life insurance income (103 ) (97 ) (180 ) Other, net 775 374 118 Total $ — $ (1,583 ) $ — Year-end deferred tax assets and liabilities were due to the following: 201 5 201 4 (in thousands) Deferred tax assets: Net operating loss carry-forward $ 38,085 $ 32,111 Allowance for loan losses 4,214 6,777 Other real estate owned write-down 7,619 10,000 Alternative minimum tax credit carry-forward 692 692 Net assets from acquisitions 671 668 Net unrealized loss on securities 166 — New market tax credit carry-forward 208 208 Nonaccrual loan interest 549 958 Other 1,875 1,761 54,079 53,175 Deferred tax liabilities: FHLB stock dividends 928 928 Fixed assets 176 264 Net unrealized gain on securities — 579 Other 865 756 1,969 2,527 Net deferred tax assets before valuation allowance 52,110 50,648 Valuation allowance (52,110 ) (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 December 31, 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 year ended December 31, 2015 and a tax benefit of $1.6 million was allocated to continuing operations for the year ended December 31, 2014. The December 31, 2014 tax benefit was 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 2015 or 2014 related to unrecognized tax benefits. Under Section 382 of the Internal Revenue Code, as amended (“Section 382”), the Company’s its net operating loss carryforwards (“NOLs”) and other deferred tax assets 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” as defined by 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. In 2015, the Company took measures to preserve the value of its NOLs. On June 24, 2015, the Board of Directors adopted a tax benefits preservation plan designed to reduce the likelihood of an “ownership change” occurring as a result of purchases and sales of the Company's common stock. Upon adoption of plan, the Company declared a dividend of one preferred stock purchase right for each common share 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, the Board of Directors has the discretion to 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 state of Kentucky. The Company is no longer subject to examination by taxing authorities for years before 2012. |
Note 15 - Related Party Transac
Note 15 - Related Party Transactions | 12 Months Ended |
Dec. 31, 2015 | |
Related Party Transactions [Abstract] | |
Related Party Transactions Disclosure [Text Block] | NOTE 15 – RELATED PARTY TRANSACTIONS There were no loans to principal officers, directors, significant shareholders, and their affiliates at December 31, 2015 or 2014. Additionally, there was no advance or payment activity during 2015. At December 31, 2015, the Bank had commitments to lend $102,000 to principal officers, directors, significant shareholders and their affiliates. Deposits from principal officers, directors, significant shareholders, and their affiliates at year-end 2015 and 2014 were $382,000 and $307,000, respectively. Hogan Development Company assists the Bank in onboarding, managing, and selling the Bank’s OREO. Hogan Development Company is owned by W. Glenn Hogan, a director. Our agreement with Hogan Development Company is periodically reviewed and evaluated by our Audit Committee. The Bank paid real estate management fees of $175,000 and $221,000 and real estate sales and leasing commissions of $637,000 and $64,000 to Hogan Development Company in 2015 and 2014, respectively. In December 2014, we completed a non-cash equity exchange transaction with the accredited investors who acquired all of our issued and outstanding Series A Preferred Shares from UST in a public auction. The investors included W. Glenn Hogan and Michael T. Levy, both directors of the Company, as well as Patriot Financial Partners L.P. and Patriot Financial Partners Parallel L.P. (the “Patriot Funds”), funds for whom a director of the Company, W. Kirk Wycoff, serves as general partner. Mr. Hogan exchanged 5,000 Series A Preferred Shares, and was issued 17,143 mandatorily convertible Series B Preferred Shares, 885 Series E Preferred Shares, and 1,405 Series F Preferred Shares. Mr. Levy exchanged 750 Series A Preferred Shares, and was issued 257,143 common shares, 133 Series E Preferred Shares, and 211 Series F Preferred Shares. The Patriot Funds exchanged 19,688 Series A Preferred Shares, 317,042 Series C Preferred Shares, and 753,263 warrants to purchase non-voting common shares, and was issued 6,250 mandatorily convertible Series B Preferred Shares, 64,580 mandatorily convertible Series D Preferred Shares, and 3,486 Series E Preferred Shares. After shareholder approval on February 25, 2015, Mr. Hogan’s 17,143 Series B Preferred Shares converted into 1,714,300 common shares and the Patriot Funds’ Series B Preferred Shares converted into 625,000 common shares, and their Series D Preferred Shares converted into 6,458,000 non-voting 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 of 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 1.2 million 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 the issuance of 400,000 common shares resulting in an $883,000 gain on extinguishment of debt. The $883,000 gain was determined based upon the difference in the $560,000 fair value of the common shares issued and the $1.4 million book value of the debt securities and accrued interest thereon tendered to the Company by the unrelated third party on the date of closing. The fair value of the shares issued to the unrelated third party was computed by multiplying the 400,000 shares issued by $1.40 per share, which was the NASDAQ closing price of the Company’s common stock on September 30, 2015. The subsidiary also received two-thirds of the Trust Securities having a book value of $2.9 million from related parties in exchange for the issuance of 400,000 common shares and 400,000 non-voting common shares. In accordance with ASC 470-50-40-2 and SEC Guidance 405-20-40-1.J, the debt and interest liability exchanged with related parties was treated as a capital transaction. |
Note 16 - Preferred Stock and S
Note 16 - Preferred Stock and Stock Purchase Warrants | 12 Months Ended |
Dec. 31, 2015 | |
Stockholders' Equity Note [Abstract] | |
Stockholders' Equity Note Disclosure [Text Block] | NOTE 16 – PREFERRED STOCK AND STOCK PURCHASE WARRANTS On November 21, 2008, we issued 35,000 Series A Preferred Shares and a warrant to purchase up to 330,561 of our common shares for $15.88 per share to the U.S. Treasury (“UST”) for an aggregate purchase price of $35.0 million. The warrant is exercisable and has a 10-year term. The Series A Preferred Shares qualified as Tier 1 capital and was entitled to receive cumulative cash dividends quarterly at an annual rate of 5% for the first five years, and 9% beginning in November 2013. The Series A Preferred Shares was non-voting (except when required by law) and redeemable at $1,000 per share plus accrued unpaid dividends. In 2010, we completed a $32.0 million private placement to accredited investors. In the transactions, the Company issued (i) 2,465,569 common shares, (ii) 317,042 Series C preferred shares and (iii) warrants to purchase 1,163,045 non-voting common shares at a price of $11.50 per share expiring in 2015. The Series C preferred shares had no voting rights (except when required by law), had a liquidation preference over our common shares, and dividend rights equivalent to our common shares. Each Series C preferred share would have automatically converted into 1.05 common shares if transferred by the holder in certain transactions in accordance with the policy of the Federal Reserve. In December 2014, we completed a non-cash equity exchange transaction with the accredited investors who acquired all of our issued and outstanding Series A preferred shares from UST in a public auction. We acquired and cancelled all of the issued and outstanding Series A preferred shares, the accrued dividends thereon, all of the issued and outstanding Series C preferred s hares, and warrants to purchase 798,915 shares of common stock together having an aggregate book value of approximately $45.7 million. In exchange, we issued common and preferred shares having a fair value of approximately $9.6 million. The effect of this exchange transaction was to increase common stockholders’ equity by approximately $36.1 million, and total stockholders’ equity by $7.4 million. In the exchange transaction, we issued 1,821,428 common shares, 40,536 mandatorily convertible Series B preferred shares and 64,580 mandatorily convertible Series D preferred shares, which automatically converted into 4,053,600 common shares and 6,458,000 non-voting common shares after shareholder approval on February 25, 2015. We also issued 6,198 Series E preferred shares and 4,304 Series F preferred shares, both of which series are not convertible into common shares, have a liquidation preference of $1,000 per share, and are entitled to a 2% noncumulative annual dividend if and when declared. Series E and Series F preferred shares rank senior to, and have liquidation and dividend preferences over, our common shares and non-voting common shares. |
Note 17 - Capital Requirements
Note 17 - Capital Requirements and Restrictions on Retained Earnings | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure Text Block [Abstract] | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | NOTE 17 – 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 final rules implementing Basel Committee on Banking Supervision’s capital guidelines for U.S. Banks (Basel III rules) became effective for the Company and Bank on January 1, 2015 with full compliance with all of the requirements being phased in over a multi-year schedule, and fully phased in by January 1, 2019. 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. Capital amounts and ratios for December 31, 2014 are calculated using Basel I rules. In its Consent Orders with the FDIC and the KDFI, 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 December 31, 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. Pursuant to the Agreement, 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. The following table shows the ratios and amounts of 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 December 31, 2015: Total risk-based capital (to risk- weighted assets) Consolidated $ 68,530 10.46 % $ 52,436 8.00 % Bank 69,250 10.58 52,347 8.00 Total common equity Tier I risk- based capital (to risk-weighted assets) Consolidated 33,368 5.09 29,495 4.50 Bank 57,873 8.84 29,445 4.50 Tier I capital (to risk-weighted assets) Consolidated 45,174 6.89 39,327 6.00 Bank 57,873 8.84 39,260 6.00 Tier I capital (to average assets) Consolidated 45,174 4.74 38,131 4.00 Bank 57,873 6.08 38,085 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 December 31, 2015 Ratio Required by Consent Order Amount Ratio Amount Ratio Total capital to risk-weighted assets $ 69,250 10.58 % $ 78,521 12.00 % Tier I capital to average assets 57,873 6.08 85,690 9.00 At December 31, 2015, the Bank’s Tier 1 leverage ratio was 6.08% and its total risk-based capital ratio was 10.58%, which are below the 9% minimum capital ratio and the 12% minimum capital ratio 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 until the Consent Order is satisfied and the Bank returns to profitability. |
Note 18 - Loan Commitments and
Note 18 - Loan Commitments and Other Related Activities | 12 Months Ended |
Dec. 31, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies Disclosure [Text Block] | NOTE 18 – LOAN COMMITMENTS AND OTHER RELATED ACTIVITIES Some financial instruments, such as loan commitments, lines of credit and letters of credit are issued to meet customer-financing needs. These are agreements to provide credit or to support the credit of others, as long as conditions established in the contract are met, and usually have expiration dates. Commitments may expire without being used. Off-balance-sheet risk to credit loss exists up to the face amount of these instruments, although material losses are not anticipated. The same credit policies are used to make such commitments as are used for loans, including obtaining collateral at exercise of the commitment. The Company holds instruments, in the normal course of business, with clients that are considered financial guarantees. Standby letters of credit guarantees are issued in connection with agreements made by clients to counterparties. Standby letters of credit are contingent upon failure of the client to perform the terms of the underlying contract. The Company evaluates each credit request of its customers in accordance with established lending policies. Based on these evaluations and the underlying policies, the amount of required collateral (if any) is established. Collateral held varies but may include negotiable instruments, accounts receivable, inventory, property, plant and equipment, income producing properties, residential real estate, and vehicles. The Company’s access to these collateral items is generally established through the maintenance of recorded liens or, in the case of negotiable instruments, possession. No liability is currently established for the standby letters of credit. The contractual amounts of financial instruments with off-balance-sheet risk at year end were as follows: 201 5 201 4 Fixed Rate Variable Rate Fixed Rate Variable Rate (in thousands) Commitments to make loans $ 2,475 $ 9,763 $ 11,790 $ 7,843 Unused lines of credit 12,212 48,648 13,075 35,562 Standby letters of credit 950 1,220 966 1,354 Commitments to make loans are generally made for periods of one year or less. |
Note 19 - Fair Values
Note 19 - Fair Values | 12 Months Ended |
Dec. 31, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value Disclosures [Text Block] | NOTE 19 – FAIR VALUES 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 are summarized below: Fair Value Measurements at December 31, 201 5 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 $ 33,262 $ — $ 33,262 $ — Agency mortgage-backed: residential 102,662 — 102,662 — State and municipal 6,861 — 6,861 — Corporate bonds 2,193 — 2,193 — Total $ 144,978 $ — $ 144,978 $ — Fair Value Measurements at December 31, 201 4 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 December 31, 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) — 26 Sales (658 ) Balance of recurring Level 3 assets at December 31 $ — $ 658 At December 31, 2014, our other debt security valuation was determined internally by calculating discounted cash flows using the security’s coupon rate of 6.5% and an estimated current market rate of 8.0% based upon the current yield curve plus spreads that adjust for volatility, credit risk, and optionality. We also considered the issuer(s) publicly filed financial information as well as assumptions regarding the likelihood of deferrals and defaults. This security was sold during 2015. Financial assets measured at fair value on a non-recurring basis are summarized below: Fair Value Measurements at December 31, 201 5 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) Impaired loans: Commercial $ — $ — $ — $ — Commercial real estate: Construction — — — — Farmland — — — — Nonfarm nonresidential 139 — — 139 Residential real estate: Multi-family — — — — 1-4 Family 1,362 — — 1,362 Consumer — — — — Agriculture — — — — Other — — — — Other real estate owned, net : Commercial real estate: Construction 12,344 — — 12,344 Farmland — — — — Nonfarm nonresidential 6,746 — — 6,746 Residential real estate: Multi-family — — — — 1-4 Family 124 — — 124 Fair Value Measurements at December 31, 201 4 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) Impaired loans: Commercial $ 12 $ — $ — $ 12 Commercial real estate: Construction — — — — Farmland 278 — — 278 Nonfarm nonresidential 15,825 — — 15,825 Residential real estate: Multi-family — — — — 1-4 Family 1,635 — — 1,635 Consumer 31 — — 31 Agriculture — — — — Other — — — — Other real estate owned, net : Commercial real estate: Construction 18,325 — — 18,325 Farmland 654 — — 654 Nonfarm nonresidential 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 $1.8 million, with a valuation allowance of $337,000, at December 31, 2015, resulting in no additional provision for loan losses for the year ended December 31, 2015. At December 31, 2014, impaired loans had a carrying amount of $18.4 million, with a valuation allowance of $622,000, at December 31, 2014, resulting in an additional provision for loan losses for the year ended December 31, 2014 of $5.2 million. Other real estate owned, which is measured at the lower of carrying or fair value less costs to sell, had a net carrying amount of $19.2 million as of December 31, 2015, compared with $46.2 million at December 31, 2014. Write-downs of $9.9 million and $4.3 million were recorded on other real estate owned for the years ended December 31, 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 December 31, 2015: Fair Value Valuation Technique(s) Unobservable Input(s) Range (Weighted Average) (in thousands) Impaired loans – Residential real estate $ 1,362 Sales comparison approach Adjustment for differences between the comparable sales 1% - 16% (7%) Other real estate owned – Commercial real estate $ 19,090 Sales comparison approach Adjustment for differences between the comparable sales 0% - 30% (12%) Income approach Discount or capitalization rate 10% - 20% (17%) 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 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 at year-end 2015: Fair Value Measurements at December 31, 2015 Using Carrying Amount Level 1 Level 2 Level 3 Total (in thousands) Financial assets Cash and cash equivalents $ 93,335 $ 79,498 $ 13,837 $ — $ 93,335 Securities available for sale 144,978 — 144,978 — 144,978 Securities held to maturity 42,075 — 44,253 — 44,253 Federal Home Loan Bank stock 7,323 N/A N/A N/A N/A Loans held for sale 186 — 186 — 186 Loans, net 606,625 — — 614,162 614,162 Accrued interest receivable 3,116 — 1,111 2,005 3,116 Financial liabilities Deposits $ 877,997 $ 120,043 $ 739,152 $ — $ 859,195 Securities sold under agreements to repurchase — — — — — Federal Home Loan Bank advances 3,081 — 3,076 — 3,076 Subordinated capital notes 4,050 — — 3,933 3,933 Junior subordinated debentures 21,000 — — 12,810 12,810 Accrued interest payable 2,805 — 422 2,383 2,805 Carrying amount and estimated fair values of financial instruments were as follows at year-end 2014: 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 used to estimate fair value 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. Noninterest 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 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 20 - Stock Plans and Stock
Note 20 - Stock Plans and Stock Based Compensation | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | N OTE 2 0 – 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 December 31, 2015, the Company had issued and outstanding 922,419 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 303,592 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 no issued and outstanding unvested shares, net of forfeitures and vesting, to non-employee directors. At December 31, 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 $445,000 and $555,000 of stock-based compensation during 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: Twelve Months Ended , 2015 Twelve Months Ended December 31, 2014 Shares Weighted Average Grant Price Shares Weighted Average Grant 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 (31,842 ) 1.13 (5,979 ) 4.21 Outstanding, ending 922,419 $ 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: Twelve Months Ended December 31, 2015 Twelve Months Ended December 31, 2014 Shares Weighted Grant Price Shares Weighted Average Grant Price Outstanding, beginning 5,052 $ 1.65 47,428 $ 1.69 Granted 115,740 1.08 166,668 0.90 Vested (120,792 ) 1.10 (154,222 ) 0.98 Forfeited — — (54,822 ) 1.29 Outstanding, ending — $ — 5,052 $ 1.65 Unrecognized stock based compensation expense related to unvested shares for 2016 and beyond is estimated as follows (in thousands): 2016 $ 252 2017 156 2018 149 2019 & thereafter — |
Note 21 - Earnings (Loss) Per S
Note 21 - Earnings (Loss) Per Share | 12 Months Ended |
Dec. 31, 2015 | |
Earnings Per Share [Abstract] | |
Earnings Per Share [Text Block] | N OTE 21 – EARNINGS (LOSS) PER SHARE The factors used in the basic and diluted earnings per share computation follow: 201 5 201 4 201 3 (in thousands, except share and per share data) Net loss $ (3,213 ) $ (11,155 ) $ (1,586 ) Less: Preferred stock dividends — 2,362 1,919 Effect of preferred stock exchange — (36,104 ) — Accretion of Series A preferred stock discount — — 160 Income (loss) attributable to unvested shares (122 ) 1,435 (171 ) Income (loss) attributable to participating preferred shares (214 ) 1,724 (96 ) Net income (loss) attributable to common shareholders, basic and diluted $ (2,877 ) $ 19,428 $ (3,398 ) Basic Weighted average common shares including unvested common shares and participating preferred shares outstanding 25,959,720 14,230,936 12,722,782 Less: Weighted average unvested common shares 986,777 904,208 595,150 Weighted average Series B Preferred Shares 666,345 299,855 — Weighted average Series C Preferred Shares — 308,269 332,894 Weighted average Series D Preferred Shares 1,061,589 477,715 — Weighted average common shares outstanding 23,245,009 12,240,889 11,794,738 Basic income (loss) per common share $ (0.12 ) $ 1.59 $ (0.29 ) Diluted Add: Dilutive effects of assumed exercises of common and Preferred Series C stock warrants — — — Weighted average common shares and potential common shares 23,245,009 12,240,889 11,794,738 Diluted income (loss) per common share $ (0.12 ) $ 1.59 $ (0.29 ) The Company had no outstanding stock options at December 31, 2015, 2014 or 2013. 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 December 31, 2015, 2014 and 2013 but was not included in the diluted EPS computation as inclusion would have been anti-dilutive. Additionally, warrants for the purchase of 650,544 and 1,449,459 shares of non-voting common stock at an exercise price of $10.95 per share were outstanding at December 31, 2014 and 2013, respectively, but were not included in the diluted EPS computation as inclusion would have been anti-dilutive. The 650,544 warrants outstanding as of December 31, 2014 expired in September 2015. |
Note 22 - Parent Company Only C
Note 22 - Parent Company Only Condensed Financial Information | 12 Months Ended |
Dec. 31, 2015 | |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |
Condensed Financial Information of Parent Company Only Disclosure [Text Block] | NOTE 2 2 – PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION Condensed financial information of Porter Bancorp Inc. is presented as follows: CONDENSED BALANCE SHEETS December 31, 2015 2014 (in thousands) ASSETS Cash and cash equivalents $ 986 $ 1,275 Securities available for sale — 658 Investment in banking subsidiary 55,642 58,097 Investment in and advances to other subsidiaries 3,360 776 Other assets 734 730 Total assets $ 60,722 $ 61,536 LIABILITIES AND SHAREHOLDERS’ EQUITY Debt $ 25,775 $ 25,775 Accrued expenses and other liabilities 2,930 2,296 Shareholders’ equity 32,017 33,465 Total liabilities and shareholders’ equity $ 60,722 $ 61,536 CONDENSED STATEMENTS OF OPERATIONS Years ended December 31, 201 5 201 4 201 3 (in thousands) Interest income $ 46 $ 53 $ 82 Dividends from subsidiaries 20 19 20 Other income 102 44 966 Interest expense (647 ) (631 ) (642 ) Other expense (1,457 ) (1,765 ) (2,064 ) Loss before income tax and undistributed subsidiary income (1,936 ) (2,280 ) (1,638 ) Income tax expense — 13 — Equity in undistributed subsidiary income (loss) (1,277 ) (8,862 ) 52 Net loss $ (3,213 ) $ (11,155 ) $ (1,586 ) CONDENSED STATEMENTS OF CASH FLOWS Years ended December 31, 201 5 201 4 20 13 (in thousands) Cash flows from operating activities Net loss $ (3,213 ) $ (11,155 ) $ (1,586 ) Adjustments: Equity in undistributed subsidiary (income) loss 1,277 8,862 (52 ) Gain on sale of assets (70 ) (44 ) (727 ) Tax expense from OCI components — 13 — Change in other assets (40 ) (26 ) (240 ) Change in other liabilities 634 1,040 833 Other 481 591 640 Net cash (used in) operating activities (931 ) (719 ) (1,132 ) Cash flows from investing activities Investments in subsidiaries — — — Sales of securities 642 179 1,952 Net cash (used in) from investing activities 642 179 1,952 Cash flows from financing activities Dividends paid on preferred stock — — — Dividends paid on common stock — — — Net cash (used in) financing activities — — — Net change in cash and cash equivalents (289 ) (540 ) 820 Beginning cash and cash equivalents 1,275 1,815 995 Ending cash and cash equivalents $ 986 $ 1,275 $ 1,815 |
Note 23 - Quarterly Financial D
Note 23 - Quarterly Financial Data (Unaudited) | 12 Months Ended |
Dec. 31, 2015 | |
Quarterly Financial Information Disclosure [Abstract] | |
Quarterly Financial Information [Text Block] | NOTE 23 – QUARTERLY FINANCIAL DATA (UNAUDITED) Earnings (Loss) Per Common Share Interest Income Net Interest Income Provision For Loan Losses OREO Expense Net Income (Loss) Basic (1) Diluted (1) (in thousands, except per share data) 201 5 First quarter $ 9,203 $ 7,290 $ — $ 733 $ 594 $ 0.02 $ 0.02 Second quarter 9,167 7,339 — 2,932 (2,130 )(2) (0.08 ) (0.08 ) Third quarter 9,179 7,482 (2,200 ) 5,131 (1,076 )(3 ) (0.04 ) (0.04 ) Fourth quarter 9,025 7,440 (2,300 ) 3,506 (601 )(3) (0.02 ) (0.02 ) 201 4 First quarter $ 9,897 $ 7,300 $ — $ 662 $ (287 ) $ (0.08 ) $ (0.08 ) Second quarter 10,166 7,614 6,300 774 (6,234 )(4) (0.53 ) (0.53 ) Third quarter 9,814 7,337 — 560 (849 ) (0.12 ) (0.12 ) Fourth quarter 9,636 7,467 800 3,843 (3,785 )(5 ) 1.91 1.91 (1) The sum of the quarterly net income (loss) per share (basic and diluted) differs from the annual net income (loss) per share (basic and diluted) because of the differences in the weighted average number of common shares outstanding and the common shares used in the quarterly and annual computations as well as differences in rounding. (2) The $2.1 million loss for the second quarter of 2015 was primarily due to OREO expenses. (3) The net loss for the third and fourth quarters of 2015 was positively impacted by a $2.2 million and $2.3 million negative provision for loans losses, respectively, and negatively impacted by OREO expenses of $5.1 million and $3.5 million, respectively. (4) The $6.2 million loss for the second quarter of 2014 was primarily due to provision for loan losses expense of $6.3 million. (5) The $3.8 million loss for the fourth quarter of 2014 was primarily due to OREO expenses of $3.8 million. |
Note 24 - Contingencies
Note 24 - Contingencies | 12 Months Ended |
Dec. 31, 2015 | |
Loss Contingency [Abstract] | |
Contingencies Disclosure [Text Block] | NOTE 24 – 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 $2.2 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 heard oral arguments on November 16, 2015. We await the Appellate Court’s ruling. We will continue to defend this matter vigorously. In accordance with the guidance provided in ASC 450-20-25, and after consultation with its legal counsel engaged for the appeal of the verdict, the Company concluded that it was not probable the full amount of the compensatory damages awarded by the jury would be overturned. Therefore, a liability was accrued for the full $1.5 million of compensatory damages awarded, plus statutory interest. After conferring with its legal counsel for the appeal, the Company concluded that the jury verdict for punitive damages was contrary to law, unsupported, excessive, and otherwise inappropriate. Based on this advice, the Company concluded it was probable that the verdict amount for $5.5 million in punitive damages would be overturned by the appeals court, and therefore it was not probable that the $5.5 million in punitive damages would become an actual liability. The ultimate outcome of this self-insured 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) | 12 Months Ended |
Dec. 31, 2015 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | Nature of Operations and Principles of Consolidation The Company provides financial services through its offices in Central Kentucky and Louisville. Its primary deposit products are checking, savings, and term certificate accounts, and its primary lending products are residential mortgage, commercial, agricultural, and real estate loans. Substantially all loans are collateralized by specific items of collateral including business assets, commercial real estate, and residential real estate. Commercial loans are expected to be repaid from cash flow from operations of businesses. There are no significant concentrations of loans to any one industry or customer. However, customers’ ability to repay their loans is dependent on the real estate and general economic conditions in the area. Other financial instruments which potentially represent concentrations of credit risk include deposit accounts in other financial institutions and federal funds sold. |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents |
Interest Bearing Deposits in Banks [Policy Text Block] | Interest Bearing Deposits in Banks |
Investment, Policy [Policy Text Block] | Securities Interest income includes amortization of purchase premium or discount. Premiums and discounts on securities are amortized on the level-yield method anticipating prepayments on mortgage backed securities. Gains and losses on sales are recorded on the trade date and determined using the specific identification method. Management evaluates securities for other-than-temporary impairment (“OTTI”) on at least a quarterly basis, and more frequently when economic or market conditions warrant such an evaluation. For securities in an unrealized loss position, management considers the extent and duration of the unrealized loss, and the financial condition and near-term prospects of the issuer. Management also assesses whether it intends to sell, or it is more likely than not that it will be required to sell, a security in an unrealized loss position before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the entire difference between amortized cost and fair value is recognized as impairment through earnings. For debt securities that do not meet the aforementioned criteria, the amount of impairment is split into two components as follows: 1) OTTI related to credit loss, which must be recognized in the income statement and 2) OTTI related to other factors, which is recognized in other comprehensive income. The credit loss is defined as the difference between the present value of the cash flows expected to be collected and the amortized cost basis. For equity securities, the entire amount of impairment is recognized through earnings. |
Finance, Loan and Lease Receivables, Held-for-sale, Policy [Policy Text Block] | Loans Held for Sale Residential mortgage loans originated and intended for sale in the secondary market are carried at the lower of aggregate cost or fair value, as determined by outstanding commitments from investors. Net unrealized losses, if any, are recorded as a valuation allowance and charged to earnings. Mortgage loans held for sale are generally sold with servicing rights released. If sold with servicing retained, the carrying value of mortgage loans sold is reduced by the amount allocated to the servicing right. Gains and losses on sales of mortgage loans are based on the difference between the selling price and the carrying value of the related loan sold. Mortgage banking derivatives used in the ordinary course of business consist of mandatory forward sales contracts and rate lock loan commitments. Forward contracts represent future commitments to deliver loans at a specified price and date and are used to manage interest rate risk on loan commitments and mortgage loans held for sale. Rate lock commitments represent commitments to fund loans at a specific rate. These derivatives involve underlying items, such as interest rates, and are designed to transfer risk. Substantially all of these instruments expire within 60 days from the date of issuance. Notional amounts are amounts on which calculations and payments are based, but which do not represent credit exposure, as credit exposure is limited to the amounts required to be received or paid. Our commitments to deliver loans and our rate lock loan commitments were insignificant at year end. |
Finance, Loan and Lease Receivables, Held-for-investment, Policy [Policy Text Block] | Loans Interest income on mortgage and commercial loans is discontinued at the time the loan is 90 days delinquent unless the loan is well collateralized and in process of collection. Consumer loans are typically charged off no later than 90 days past due. Past due status is based on the contractual terms of the loan. In all cases, loans are placed on nonaccrual or charged off at an earlier date if collection of principal or interest is not expected. All interest accrued but not received for loans placed on nonaccrual is reversed against interest income. Interest received on such loans is accounted for on the cash-basis or cost-recovery method, until qualifying for return to accrual. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured. |
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block] | Allowance for Loan Losses The allowance consists of specific and general components. The specific component relates to loans that are individually classified as impaired. A loan is deemed impaired when, based on current information and events, it is probable that the Company will be unable to collect all amounts due according to the contractual terms of the loan agreement. Loans for which the terms have been modified resulting in a concession, and for which the borrower is experiencing financial difficulties, are considered troubled debt restructurings and treated as impaired. Factors considered in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. We determine the significance of payment delays and payment shortfalls on case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. If a loan is impaired, a portion of the allowance is allocated so that the loan is reported, net, at the present value of estimated future cash flows using the loan’s existing rate or at the fair value of collateral if repayment is expected solely from the collateral. Large groups of smaller balance homogeneous loans, such as consumer and residential real estate loans, are collectively evaluated for impairment, and accordingly, they are not separately identified for impairment disclosures. Troubled debt restructurings are separately identified for impairment disclosures and are measured at the present value of estimated future cash flows using the loan’s effective rate at inception. If a troubled debt restructuring is considered to be a collateral dependent loan, the loan is reported at the fair value of the collateral. For troubled debt restructurings that subsequently default, we determine the amount of reserve in accordance with the accounting policy for the allowance for loan losses. The general component covers non-impaired loans and is based on historical loss experience adjusted for current factors. The historical loss experience is determined by portfolio segment and is based on our actual loss history experienced over the most recent three years with weighting towards the most recent periods. This actual loss experience is supplemented with other economic factors based on the risks present for each portfolio segment. These economic factors include consideration of the following: changes in lending policies, procedures, and practices; effects of any change in risk selection and underwriting standards; national and local economic trends and conditions; industry conditions; trends in volume and terms of loans; experience, ability and depth of lending management and other relevant staff; levels of and trends in delinquencies and impaired loans; levels of and trends in charge-offs and recoveries; and effects of changes in credit concentrations. A portfolio segment is defined as the level at which an entity develops and documents a systematic methodology to determine its allowance for loan losses. We identified the following portfolio segments: commercial, commercial real estate, residential real estate, consumer, agricultural, and other. ● Commercial loans depend on the strength of the industries of the related borrowers and the success of their businesses. Commercial loans are advances for equipment purchases, or to provide working capital, or to meet other financing needs of business enterprises. These loans may be secured by accounts receivable, inventory, equipment or other business assets. Financial information is obtained from the borrowers to evaluate their ability to repay the loans. ● Commercial real estate loans are affected by the local commercial real estate market and the local economy. Commercial real estate loans include loans on properties occupied by the borrowers and on properties for commercial purposes. Construction and development loans are a component of this segment. These loans are generally secured by land under development or homes and commercial buildings under construction. Appraisals are obtained to support the loan amount. Financial information is obtained from the borrowers and/or the individual project to evaluate cash flows sufficiency to service the debt. ● Residential real estate loans are affected by the local residential real estate market, local economy, and, for variable rate mortgages, movement in indices tied to these loans. For owner occupied residential loans, the borrowers’ repayment ability is evaluated through a review of credit scores and debt to income ratios. For non-owner occupied residential loans, such as rental real estate, financial information is obtained from the borrowers and/or the individual project to evaluate cash flows sufficiency to service the debt. Appraisals are obtained to support the loan amount. ● Consumer loans depend on local economies. Consumer loans are generally secured by consumer assets, but may be unsecured. We evaluate the borrowers’ repayment ability through a review of credit scores and an evaluation of debt to income ratios. ● Agriculture loans depend on the industries tied to these loans and are generally secured by livestock, crops, and/or equipment, but may be unsecured. We evaluate the borrowers’ repayment ability through a review of credit scores and an evaluation of debt to income ratios. ● Other loans include loans to municipalities, loans secured by stock, and overdrafts. For municipal loans, we evaluate the borrowers’ revenue streams as well as ability to repay form general funds. For loans secured by stock, we evaluate the market value of the stock securing the loan in relation to the loan amount. Overdrafts are funded based on pre-established criteria related to the deposit account relationship. We analyze key relevant risk characteristics for each portfolio segment and have determined that loans in each segment possess similar general risk characteristics that are analyzed in connection with our loan underwriting processes and procedures. In determining the allocated allowance, we utilize weighted average loss rates for the past three years most heavily weighting the current year. Commercial real estate qualitative adjustment considerations include due to trends in our markets for underlying collateral values and risks related to tenant rents and for economic factors such as decreased sales demand, elevated inventory levels, and declining collateral values. Residential real estate loan considerations include macro factors such as unemployment rates, trends in vacancy rates, and home value trends. The commercial portfolio qualitative adjustments are related to industry concentrations and geographical market. Our agricultural, consumer, and other portfolios are less significant in terms of size and risk is assessed based on the smaller dollar size of these loans and the more geographical areas where the collateral is located |
Transfers and Servicing of Financial Assets, Policy [Policy Text Block] | Transfers of Financial Assets |
Real Estate Owned, Valuation Allowance, Policy [Policy Text Block] | Other Real Estate Owned |
Property, Plant and Equipment, Policy [Policy Text Block] | Premises and Equipment |
Federal Home Loan Bank Stock [Policy Text Block] | Federal Home Loan Bank (FHLB) Stock |
Intangible Assets, Finite-Lived, Policy [Policy Text Block] | Intangible Assets |
Bank Owned Life Insurance [Policy Text Block] | Bank Owned Life Insurance |
Impairment or Disposal of Long-Lived Assets, Including Intangible Assets, Policy [Policy Text Block] | Long-Term Assets |
Repurchase and Resale Agreements Policy [Policy Text Block] | Repurchase Agreements |
Pension and Other Postretirement Plans, Nonpension Benefits, Policy [Policy Text Block] | Benefit Plans |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | Stock-Based Compensation |
Income Tax, Policy [Policy Text Block] | Income Taxes A tax position is recognized as a benefit only if it is "more likely than not" that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the "more likely than not" test, no tax benefit is recorded. The Company recognizes interest and/or penalties related to income tax matters in income tax expense. |
Loan Commitments, Policy [Policy Text Block] | Loan Commitments and Related Financial Instruments |
Comprehensive Income, Policy [Policy Text Block] | Comprehensive Loss |
Stockholders' Equity Note, Redeemable Preferred Stock, Issue, Policy [Policy Text Block] | Preferred Shares – Shares, and warrants to purchase 798,915 shares of common stock together having an aggregate book value of approximately $45.7 million. In exchange, we issued common and preferred shares having a fair value of approximately $9.6 million. The effect of this exchange transaction was to increase common stockholders’ equity by approximately $36.1 million, and total stockholders’ equity by $7.4 million. In the exchange transaction, we issued 1,821,428 common shares, 40,536 mandatorily convertible Series B Preferred Shares and 64,580 mandatorily convertible Series D Preferred Shares, which automatically converted into 4,053,600 common shares and 6,458,000 non-voting common shares after shareholder approval on February 25, 2015. We also issued 6,198 Series E Preferred Shares and 4,304 Series F Preferred Shares, both of which series are not convertible into common shares, have a liquidation preference of $1,000 per share, and are entitled to a 2% noncumulative annual dividend if and when declared. Series E and Series F Preferred Shares rank senior to, and have liquidation and dividend preferences over, our common shares and non-voting common shares. |
Earnings Per Share, Policy [Policy Text Block] | Earnings (Loss) Per Common Share Earnings (Loss) Allocated to Participating Securities – We also have issued and outstanding unvested common shares to employees and directors through our stock incentive plan. Earnings (loss) are allocated to these participating securities based on their percentage of total issued and outstanding shares. |
Commitments and Contingencies, Policy [Policy Text Block] | Loss Contingencies |
Dividend [Policy Text Block] | Dividend Restriction |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair Value of Financial Instruments |
Reclassification, Policy [Policy Text Block] | Reclassifications |
New Accounting Pronouncements, Policy [Policy Text Block] | Adoption of New Accounting Standards – The amendments in this ASU clarify that an in substance repossession or foreclosure occurs, and a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan, upon either (1) the creditor obtaining legal title to the residential real estate property upon completion of a foreclosure or (2) the borrower conveying all interest in the residential real estate property to the creditor to satisfy that loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. Additionally, the amendments require interim and annual disclosure of both (1) the amount of foreclosed residential real estate property held by the creditor and (2) the recorded investment in consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure according to local requirements of the applicable jurisdiction. The amendments in this ASU were effective for the Company beginning January 1, 2015 and did not have a material impact on the Company’s financial statements. In May 2014, FASB issued Accounting Standards Update 2014-09, Revenue from Contracts with Customers (Topic 606). The ASU creates a new topic, Topic 606, to provide guidance on revenue recognition for entities that enter into contracts with customers to transfer goods or services or enter into contracts for the transfer of nonfinancial assets. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Additional disclosures are required to provide quantitative and qualitative information regarding the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The new guidance is effective for annual reporting periods, and interim reporting periods within those annual periods, beginning after December 15, 2016. Early adoption is not permitted. Management is currently evaluating the impact of the adoption of this guidance on the Company’s financial statements. In June 2014, the FASB issued an update (ASU No. 2014-12, Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period) impacting FASB ASC 860, Transfers and Servicing. Generally, an award with a performance target also requires an employee to render service until the performance target is achieved. In some cases, however, the terms of an award may provide that the performance target could be achieved after an employee completes the requisite service period. The amendments in this update require that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. An entity should apply guidance in Topic 718 as it relates to awards with performance conditions that affect vesting to account for such awards. As such, the performance target should not be reflected in estimating the grant-date fair value of the award. Compensation cost should be recognized in the period in which it becomes probable that the performance target will be achieved and should represent the compensation cost attributable to the period for which the service has already been rendered. The amendments in this update became effective for interim and annual periods beginning after December 15, 2015 and are not expected to have a material impact on the consolidated financial statements. In August 2014, the FASB amended existing guidance related to the disclosures about an entity’s ability to continue as a going concern. These amendments are intended to define management’s responsibility to evaluate whether there is substantial doubt about an organization’s ability to continue as a going concern and to provide related footnote disclosures. These amendments provide guidance to an organization’s management, with principles and definitions that are intended to reduce diversity in the timing and content of disclosures that are commonly provided by organizations in the financial statement footnotes. The amendments are effective for annual periods ending after December 15, 2016, and interim periods within annual periods beginning after December 15, 2016. Early application is permitted for annual or interim reporting periods for which the financial statements have not previously been issued. The effect of adopting this standard is not expected to have a material effect on the Company’s operating results or financial condition. In August 2014, the FASB issued an update (ASU No. 2014-14, Classification of Certain Government-Guaranteed Mortgage Loans upon Foreclosure) impacting FASB ASC 310-40, Receivables – Troubled Debt Restructuring by Creditors. This update affects creditors that hold government-guaranteed mortgage loans. The amendments in this update require that a mortgage loan be derecognized and that a separate other receivable be recognized if the following conditions are met: (1) The loan has a government guarantee that is not separable from the loan before foreclosure. (2) At the time of foreclosure, the creditor has the intent to convey the real estate property to the guarantor and make a claim on the guarantee, and the creditor has the ability to recover under the claim. (3) At the time of foreclosure, the claim that is determined on the basis of the fair value of the real estate is fixed. Upon foreclosure, the separate other receivable should be measured based on the amount of the loan balance (principal and interest) expected to be recovered from the guarantor. The amendments in this update became effective for interim and annual periods beginning after December 15, 2014 and did not have a material impact on the consolidated financial statements. In April 2015, the FASB issued Accounting Standards Update No. 2015-03, Interest – Imputation of Interest, which changes the presentation of debt issuance costs in financial statements. Under the ASU, an entity presents such costs in the balance sheet as a direct deduction from the related debt liability rather than as an asset. Amortization of the costs is reported as interest expense. Subsequent to the issuance of ASU 2015-03, the SEC staff made an announcement regarding the presentation of debt issuance costs associated with line-of-credit arrangements, which was codified in August 2015 when FASB issued ASU 2015-15. This guidance allows an entity to present debt issuance costs as an asset and amortize the deferred debt issuance costs ratably over the term of the line-of-credit arrangement, regardless of whether there are any outstanding borrowings on the line-of-credit arrangement. The SEC guidance is effective upon adoption of ASU 2015-03. ASU 2015-03 is effective for fiscal years and interim periods beginning after December 15, 2016. The adoption of ASU 2015-03 is not expected to have a significant impact on Company’s operations or financial statements. In January 2016, the FASB issued an update (ASU No. 2016-01, Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities). The amendments in this update impact public business entities as follows: 1) Require equity investments (except those accounted for under the equity method of accounting or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income. 2) Simplify the impairment assessment of equity investments without readily determinable fair values by requiring a qualitative assessment to identify impairment. When a qualitative assessment indicates that impairment exists, an entity is required to measure the investment at fair value. 3) Eliminate the requirement to disclose the methods and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet. 4) Require entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes. 5) Require an entity to present separately in other comprehensive income the portion of the total change in fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments. 6) Require separate presentation of financial assets and financial liabilities by measurement category and form of financial asset (that is, securities or loans and receivables) on the balance sheet or the accompanying notes to the financial statements. 7) Clarify that an entity should evaluate the need for a valuation allowance on a deferred tax asset related to available-for-sale securities in combination with the entity’s other deferred tax assets. The amendments in this update become effective for annual periods and interim periods within those annual periods beginning after December 15, 2017. We are currently evaluating the impact of adopting the new guidance on the consolidated financial statements, but it is not expected to have a material impact. |
Note 3 - Securities (Tables)
Note 3 - Securities (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Investments, Debt and Equity Securities [Abstract] | |
Marketable Securities [Table Text Block] | Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (in thousands) December 31, 201 5 Available for sale U.S. Government and federal agency $ 33,491 $ 146 $ (375 ) $ 33,262 Agency mortgage-backed: residential 102,135 907 (380 ) 102,662 State and municipal 6,555 306 — 6,861 Corporate bonds 2,321 — (128 ) 2,193 Total available for sale $ 144,502 $ 1,359 $ (883 ) $ 144,978 Amortized Cost Gross Unrecognized Gains Gross Unrecognized Losses Fair Value Held to maturity State and municipal $ 42,075 $ 2,178 $ — $ 44,253 Total held to maturity $ 42,075 $ 2,178 $ — $ 44,253 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (in thousands) December 31, 201 4 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] | 201 5 2014 2013 (in thousands) Proceeds $ 45,012 $ 6,251 $ 8,061 Gross gains 1,902 132 873 Gross losses 136 — 150 |
Investments Classified by Contractual Maturity Date [Table Text Block] | December 31, 201 5 Amortized Cost Fair Value (in thousands) Maturity Available for sale Within one year $ 6,113 $ 6,053 One to five years 8,211 8,512 Five to ten years 28,043 27,751 Agency mortgage-backed: residential 102,135 102,662 Total $ 144,502 $ 144,978 Held to maturity One to five years $ 16,579 $ 17,237 Five to ten years 21,938 23,222 Beyond ten years 3,558 3,794 Total $ 42,075 $ 44,253 |
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) 201 5 Available for sale U.S. Government and federal agency $ 7,058 $ (44 ) $ 14,527 $ (331 ) $ 21,585 $ (375 ) Agency mortgage-backed: residential 36,325 (271 ) 3,856 (109 ) 40,181 (380 ) Corporate bonds 747 (18 ) 1,446 (110 ) 2,193 (128 ) Total temporarily impaired $ 44,130 $ (333 ) $ 19,829 $ (550 ) $ 63,959 $ (883 ) 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) 201 4 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) | 12 Months Ended |
Dec. 31, 2015 | |
Receivables [Abstract] | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | 201 5 201 4 (in thousands) Commercial $ 86,176 $ 60,936 Commercial Real Estate: Construction 33,154 33,173 Farmland 76,412 77,419 Nonfarm nonresidential 140,570 175,452 Residential Real Estate: Multi-family 44,131 41,891 1-4 Family 201,478 197,278 Consumer 10,010 11,347 Agriculture 26,316 26,966 Other 419 537 Subtotal 618,666 624,999 Less: Allowance for loan losses (12,041 ) (19,364 ) Loans, net $ 606,625 $ 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) Beginning balance $ 2,046 $ 10,931 $ 5,787 $ 274 $ 319 $ 7 $ 19,364 Negative provision for loan losses (1,255 ) (2,713 ) (316 ) (115 ) (87 ) (14 ) (4,500 ) Loans charged off (696 ) (2,879 ) (2,171 ) (221 ) (118 ) (47 ) (6,132 ) Recoveries 723 1,654 684 184 8 56 3,309 Ending balance $ 818 $ 6,993 $ 3,984 $ 122 $ 122 $ 2 $ 12,041 Commercial Commercial Real Estate Residential Real Estate Consumer Agriculture Other Total (in thousands) Beginning balance $ 3,221 $ 16,414 $ 7,762 $ 416 $ 305 $ 6 $ 28,124 Provision for loan losses (690 ) 6,395 1,364 25 31 (25 ) 7,100 Loans charged off (1,099 ) (13,846 ) (4,097 ) (335 ) (30 ) (19 ) (19,426 ) Recoveries 614 1,968 758 168 13 45 3,566 Ending balance $ 2,046 $ 10,931 $ 5,787 $ 274 $ 319 $ 7 $ 19,364 Commercial Commercial Real Estate Residential Real Estate Consumer Agriculture Other Total (in thousands) Beginning balance $ 4,402 $ 34,768 $ 16,235 $ 857 $ 403 $ 15 $ 56,680 Provision for loan losses 435 1,691 (1,261 ) 66 (222 ) (9 ) 700 Loans charged off (2,828 ) (21,176 ) (7,703 ) (773 ) (128 ) – (32,608 ) Recoveries 1,212 1,131 491 266 252 – 3,352 Ending balance $ 3,221 $ 16,414 $ 7,762 $ 416 $ 305 $ 6 $ 28,124 |
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 $ – $ 43 $ 385 $ – $ – $ – $ 428 Collectively evaluated for impairment 818 6,950 3,599 122 122 2 11,613 Total ending allowance balance $ 818 $ 6,993 $ 3,984 $ 122 $ 122 $ 2 $ 12,041 Loans: Loans individually evaluated for impairment $ 1,112 $ 12,819 $ 17,673 $ 20 $ 152 $ – $ 31,776 Loans collectively evaluated for impairment 85,064 237,317 227,936 9,990 26,164 419 586,890 Total ending loans balance $ 86,176 $ 250,136 $ 245,609 $ 10,010 $ 26,316 $ 419 $ 618,666 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] | Unpaid Principal Balance Recorded Investment Allowance For Loan Losses Allocated Average Recorded Investment Interest Income Recognized Cash Basis Income Recognized (in thousands) With No Related Allowance Recorded: Commercial $ 1,558 $ 1,112 $ — $ 1,526 $ 5 $ 5 Commercial real estate: Construction 278 262 — 1,993 14 1 Farmland 6,004 4,263 — 4,497 114 114 Nonfarm nonresidential 11,256 7,829 — 16,073 263 9 Residential real estate: Multi-family 32 32 — 35 — — 1-4 Family 14,066 11,756 — 13,584 456 99 Consumer 118 20 — 23 — — Agriculture 260 152 — 206 — — Other — — — 49 5 5 Subtotal 33,572 25,426 — 37,986 857 233 With An Allowance Recorded: Commercial — — — 13 — — Commercial real estate: Construction — — — — — — Farmland — — — 63 — — Nonfarm nonresidential 574 465 43 4,591 25 — Residential real estate: Multi-family 4,195 4,195 57 4,229 204 — 1-4 Family 1,690 1,690 328 1,705 89 — Consumer — — — 8 — — Agriculture — — — — — — Other — — — — — — Subtotal 6,459 6,350 428 10,609 318 — Total $ 40,031 $ 31,776 $ 428 $ 48,595 $ 1,175 $ 233 Unpaid Principal Balance Recorded Investment Allowance For Loan Losses Allocated Average Recorded Investment Interest Income Recognized Cash Basis Income Recognized (in thousands) With No Related Allowance Recorded: Commercial $ 2,546 $ 1,978 $ — $ 2,256 $ 64 $ 55 Commercial real estate: Construction 4,714 4,100 — 5,446 12 — Farmland 6,636 4,739 — 6,150 75 75 Nonfarm nonresidential 34,437 22,418 — 39,852 693 128 Residential real estate: Multi-family 81 81 — 1,664 — — 1-4 Family 18,496 15,266 — 22,670 676 226 Consumer 93 29 — 14 — — Agriculture 276 263 — 277 3 3 Other 367 122 — 255 16 13 Subtotal 67,646 48,996 — 78,584 1,539 500 With An Allowance Recorded: Commercial 145 44 33 961 23 — Commercial real estate: Construction — — — 589 16 — Farmland 658 315 38 112 — — Nonfarm nonresidential 19,454 16,569 453 13,933 360 — Residential real estate: Multi-family 4,266 4,266 91 4,426 180 — 1-4 Family 1,791 1,771 136 1,840 78 — Consumer 32 32 1 49 3 — Agriculture — — — — — — Other — — — — — — Subtotal 26,346 22,997 752 21,910 660 — Total $ 93,992 $ 71,993 $ 752 $ 100,494 $ 2,199 $ 500 Unpaid Principal Balance Recorded Investment Allowance For Loan Losses Allocated Average Recorded Investment Interest Income Recognized Cash Basis Income Recognized (in thousands) With No Related Allowance Recorded: Commercial $ 3,569 $ 2,623 $ — $ 3,829 $ 81 $ 30 Commercial real estate: Construction 9,022 8,042 — 15,511 232 164 Farmland 9,977 7,890 — 8,614 270 268 Nonfarm nonresidential 75,331 57,397 — 43,419 851 366 Residential real estate: Multi-family 9,332 7,514 — 6,475 7 3 1-4 Family 39,929 34,779 — 31,066 495 116 Consumer 9 9 — 33 1 — Agriculture 401 322 — 213 — — Other 875 631 — 236 19 11 Subtotal 148,445 119,207 — 109,396 1,956 958 With An Allowance Recorded: Commercial 2,372 2,372 290 1,698 48 — Commercial real estate: Construction 1,525 1,260 218 5,129 20 — Farmland 246 246 65 1,224 35 — Nonfarm nonresidential 20,748 19,495 2,062 36,031 840 — Residential real estate: Multi-family 4,995 4,995 393 7,187 204 — 1-4 Family 2,224 2,224 434 8,222 177 — Consumer 84 84 9 122 2 — Agriculture — — — 2 — — Other — — — 313 9 — Subtotal 32,194 30,676 3,471 59,928 1,335 — Total $ 180,639 $ 149,883 $ 3,471 $ 169,324 $ 3,291 $ 958 |
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | TDRs Performing to Modified Terms TDRs Not Performing to Modified Terms Total TDRs (in thousands) December 31, 2015 Commercial Rate reduction $ — $ 68 $ 68 Principal deferral — 439 439 Commercial Real Estate: Construction Rate reduction 262 — 262 Farmland Principal deferral — 2,365 2,365 Nonfarm nonresidential Rate reduction 5,637 50 5,687 Principal deferral — 622 622 Residential Real Estate: Multi-family Rate reduction 4,195 — 4,195 1-4 Family Rate reduction 7,346 — 7,346 Total TDRs $ 17,440 $ 3,544 $ 20,984 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 Nonfarm nonresidential 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 201 5 201 4 201 5 201 4 (in thousands) Commercial $ 1,112 $ 1,978 $ — $ — Commercial Real Estate: Construction — 3,831 — — Farmland 4,263 5,054 — — Nonfarm nonresidential 2,657 26,892 — — Residential Real Estate: Multi-family 32 80 — — 1-4 Family 5,851 8,925 — 151 Consumer 20 30 — — Agriculture 152 263 — — Other — 122 — — Total $ 14,087 $ 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) December 31, 201 5 Commercial $ 78 $ — $ — $ 1,112 $ 1,190 Commercial Real Estate: Construction — — — — — Farmland 456 — — 4,263 4,719 Nonfarm nonresidential 326 — — 2,657 2,983 Residential Real Estate: Multi-family — — — 32 32 1-4 Family 2,225 241 — 5,851 8,317 Consumer 41 — — 20 61 Agriculture 7 — — 152 159 Other — — — — — Total $ 3,133 $ 241 $ — $ 14,087 $ 17,461 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, 201 4 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) December 31, 201 5 Commercial $ 81,570 $ 2,953 $ — $ 1,653 $ — $ 86,176 Commercial Real Estate: Construction 27,603 5,289 — 262 — 33,154 Farmland 65,476 4,844 — 6,092 — 76,412 Nonfarm nonresidential 111,901 22,687 1,328 4,654 — 140,570 Residential Real Estate: Multi-family 35,300 4,879 — 3,952 — 44,131 1-4 Family 164,490 17,636 67 19,285 — 201,478 Consumer 9,323 474 — 213 — 10,010 Agriculture 21,402 4,601 — 313 — 26,316 Other 419 — — — — 419 Total $ 517,484 $ 63,363 $ 1,395 $ 36,424 $ — $ 618,666 Pass Watch Special Mention Substandard Doubtful Total (in thousands) December 31, 201 4 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 - Premises and Equipme35
Note 5 - Premises and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment [Table Text Block] | 201 5 201 4 (in thousands) Land and buildings $ 24,651 $ 24,711 Furniture and equipment 10,719 10,314 35,370 35,025 Accumulated depreciation (16,558 ) (15,518 ) $ 18,812 $ 19,507 |
Note 6 - Other Real Estate Ow36
Note 6 - Other Real Estate Owned (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure Text Block [Abstract] | |
Schedule of Real Estate Properties [Table Text Block] | 201 5 201 4 (in thousands) Commercial Real Estate: Construction, land development, and other land $ 12,749 $ 18,748 Farmland — 669 Nonfarm nonresidential 6,967 14,860 Residential Real Estate: Multi-family — 4,988 1-4 Family 128 7,998 19,844 47,263 Valuation allowance (630 ) (1,066 ) $ 19,214 $ 46,197 |
Schedule of Valuation Allowance and Activity Related to Foreclosed Real Estate [Table Text Block] | 201 5 201 4 20 13 (in thousands) Beginning balance $ 1,066 $ 230 $ 1,154 Provision to allowance 9,855 4,255 2,466 Write-downs (10,291 ) (3,419 ) (3,390 ) Ending balance $ 630 $ 1,066 $ 230 |
Schedule of Expenses Related to Foreclosed Real Estate [Table Text Block] | 201 5 201 4 20 13 (in thousands) OREO Activity OREO as of January 1 $ 46,197 $ 30,892 $ 43,671 Real estate acquired 5,513 32,338 20,606 Valuation adjustments for declining market values (9,855 ) (4,255 ) (2,466 ) Net gain (loss) on sale (74 ) 306 (132 ) Proceeds from sale of properties (22,567 ) (13,084 ) (30,787 ) OREO as of December 31 $ 19,214 $ 46,197 $ 30,892 |
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | 201 5 201 4 20 13 (in thousands) Net (gain) loss on sales $ 74 $ (306 ) $ 132 Provision to allowance 9,855 4,255 2,466 Operating expense 2,373 1,890 1,918 Total $ 12,302 $ 5,839 $ 4,516 |
Note 7 - Intangible Assets (Tab
Note 7 - Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure Text Block [Abstract] | |
Schedule of Acquired Finite-Lived Intangible Assets by Major Class [Table Text Block] | 201 5 201 4 Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization (in thousands) Amortized intangible assets: Core deposit intangibles $ 4,183 $ 3,740 $ 4,183 $ 3,405 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | 2016 $ 334 2017 109 2018 — 2019 — 2020 — |
Note 8 - Deposits (Tables)
Note 8 - Deposits (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure Text Block [Abstract] | |
Schedule of Deposits [Table Text Block] | December 31, 201 5 December 31, 201 4 (in thousands) Non-interest bearing $ 120,043 $ 114,910 Interest checking 97,515 91,086 Money market 125,935 109,734 Savings 34,677 36,430 Certificates of deposit 499,827 574,681 Total $ 877,997 $ 926,841 |
Schedule of Maturities of Time Deposits [Table Text Block] | Total 2016 $ 306,987 2017 112,344 2018 10,835 2019 31,108 2020 38,553 Thereafter — $ 499,827 |
Note 9 - Securities Sold Unde39
Note 9 - Securities Sold Under Agreements to Repurchase (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure Text Block [Abstract] | |
Schedule of Repurchase Agreements [Table Text Block] | 201 5 201 4 201 3 (in thousands) Balance at year-end $ — $ 1,341 $ 2,470 Average daily balance during the year $ 587 $ 2,255 $ 3,113 Average interest rate during the year 0.14 % 0.15 % 0.20 % Maximum month-end balance during the year $ 1,341 $ 3,473 $ 4,747 Weighted average interest rate at year-end — % 0.14 % 0.17 % Fair value of securities sold under agreements to repurchase at year-end $ — $ 1,341 $ 2,470 |
Note 10 - Advances from Feder40
Note 10 - Advances from Federal Home Loan Bank (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Note 10 - Advances from Federal Home Loan Bank (Tables) [Line Items] | |
Schedule of Federal Home Loan Bank, Advances, by Branch of FHLB Bank [Table Text Block] | 201 5 201 4 (in thousands) Monthly amortizing advances with fixed rates from 0.00% to 5.25% and maturities ranging from 2017 through 2033, averaging 2.65% for 2015 and 1.02% for 2014 $ 3,081 $ 15,752 |
Federal Home Loan Bank Advances [Member] | |
Note 10 - Advances from Federal Home Loan Bank (Tables) [Line Items] | |
Schedule of Maturities of Long-term Debt [Table Text Block] | Advances 2016 $ 670 2017 539 2018 265 2019 185 2020 486 Thereafter 936 $ 3,081 |
Note 12 - Junior Subordinated41
Note 12 - Junior Subordinated Debentures (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Debt Disclosure [Abstract] | |
Schedule of Subordinated Borrowing [Table Text Block] | Description Issuance Date Interest Rate (1) Junior Subordinated Debt Owed To Trust End of 20 Quarter Deferral Period Maturity Date (2) Porter Statutory Trust II 2/13/2004 3-month LIBOR + 2.85% $ 5,000,000 9/19/2016 2/13/2034 Porter Statutory Trust III 4/15/2004 3-month LIBOR + 2.79% 3,000,000 9/18/2016 4/15/2034 Porter Statutory Trust IV 12/14/2006 3-month LIBOR + 1.67% 10,000,000 9/01/2016 3/01/2037 Ascencia Statutory Trust I 2/13/2004 3-month LIBOR + 2.85% 3,000,000 9/19/2016 2/13/2034 $ 21,000,000 |
Note 14 - Income Taxes (Tables)
Note 14 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Income Tax Disclosure [Abstract] | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | 201 5 201 4 20 13 (in thousands) Current $ — $ — $ — Deferred 5,258 2,151 9,489 Net operating loss (5,975 ) (6,651 ) (10,430 ) Change in valuation allowance 717 2,917 941 $ — $ (1,583 ) $ — |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | 201 5 201 4 20 13 (in thousands) Federal statutory rate times financial statement income (loss) $ (1,125 ) $ (4,458 ) $ (555 ) Effect of: Valuation allowance 717 2,917 941 Tax-exempt income (264 ) (319 ) (324 ) Nontaxable life insurance income (103 ) (97 ) (180 ) Other, net 775 374 118 Total $ — $ (1,583 ) $ — |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | 201 5 201 4 (in thousands) Deferred tax assets: Net operating loss carry-forward $ 38,085 $ 32,111 Allowance for loan losses 4,214 6,777 Other real estate owned write-down 7,619 10,000 Alternative minimum tax credit carry-forward 692 692 Net assets from acquisitions 671 668 Net unrealized loss on securities 166 — New market tax credit carry-forward 208 208 Nonaccrual loan interest 549 958 Other 1,875 1,761 54,079 53,175 Deferred tax liabilities: FHLB stock dividends 928 928 Fixed assets 176 264 Net unrealized gain on securities — 579 Other 865 756 1,969 2,527 Net deferred tax assets before valuation allowance 52,110 50,648 Valuation allowance (52,110 ) (50,648 ) Net deferred tax asset $ — $ — |
Note 17 - Capital Requirement43
Note 17 - Capital Requirements and Restrictions on Retained Earnings (Tables) | 12 Months Ended |
Dec. 31, 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 December 31, 2015: Total risk-based capital (to risk- weighted assets) Consolidated $ 68,530 10.46 % $ 52,436 8.00 % Bank 69,250 10.58 52,347 8.00 Total common equity Tier I risk- based capital (to risk-weighted assets) Consolidated 33,368 5.09 29,495 4.50 Bank 57,873 8.84 29,445 4.50 Tier I capital (to risk-weighted assets) Consolidated 45,174 6.89 39,327 6.00 Bank 57,873 8.84 39,260 6.00 Tier I capital (to average assets) Consolidated 45,174 4.74 38,131 4.00 Bank 57,873 6.08 38,085 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 December 31, 2015 Ratio Required by Consent Order Amount Ratio Amount Ratio Total capital to risk-weighted assets $ 69,250 10.58 % $ 78,521 12.00 % Tier I capital to average assets 57,873 6.08 85,690 9.00 |
Note 18 - Loan Commitments an44
Note 18 - Loan Commitments and Other Related Activities (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of Fair Value, Off-balance Sheet Risks [Table Text Block] | 201 5 201 4 Fixed Rate Variable Rate Fixed Rate Variable Rate (in thousands) Commitments to make loans $ 2,475 $ 9,763 $ 11,790 $ 7,843 Unused lines of credit 12,212 48,648 13,075 35,562 Standby letters of credit 950 1,220 966 1,354 |
Note 19 - Fair Values (Tables)
Note 19 - Fair Values (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Table Text Block] | Fair Value Measurements at December 31, 201 5 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 $ 33,262 $ — $ 33,262 $ — Agency mortgage-backed: residential 102,662 — 102,662 — State and municipal 6,861 — 6,861 — Corporate bonds 2,193 — 2,193 — Total $ 144,978 $ — $ 144,978 $ — Fair Value Measurements at December 31, 201 4 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 December 31, 201 5 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) Impaired loans: Commercial $ — $ — $ — $ — Commercial real estate: Construction — — — — Farmland — — — — Nonfarm nonresidential 139 — — 139 Residential real estate: Multi-family — — — — 1-4 Family 1,362 — — 1,362 Consumer — — — — Agriculture — — — — Other — — — — Other real estate owned, net : Commercial real estate: Construction 12,344 — — 12,344 Farmland — — — — Nonfarm nonresidential 6,746 — — 6,746 Residential real estate: Multi-family — — — — 1-4 Family 124 — — 124 Fair Value Measurements at December 31, 201 4 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) Impaired loans: Commercial $ 12 $ — $ — $ 12 Commercial real estate: Construction — — — — Farmland 278 — — 278 Nonfarm nonresidential 15,825 — — 15,825 Residential real estate: Multi-family — — — — 1-4 Family 1,635 — — 1,635 Consumer 31 — — 31 Agriculture — — — — Other — — — — Other real estate owned, net : Commercial real estate: Construction 18,325 — — 18,325 Farmland 654 — — 654 Nonfarm nonresidential 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) — 26 Sales (658 ) Balance of recurring Level 3 assets at December 31 $ — $ 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 – Residential real estate $ 1,362 Sales comparison approach Adjustment for differences between the comparable sales 1% - 16% (7%) Other real estate owned – Commercial real estate $ 19,090 Sales comparison approach Adjustment for differences between the comparable sales 0% - 30% (12%) Income approach Discount or capitalization rate 10% - 20% (17%) Fair Value Valuation Technique(s) Unobservable Input(s) Range (Weighted Average) (in thousands) 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 December 31, 2015 Using Carrying Amount Level 1 Level 2 Level 3 Total (in thousands) Financial assets Cash and cash equivalents $ 93,335 $ 79,498 $ 13,837 $ — $ 93,335 Securities available for sale 144,978 — 144,978 — 144,978 Securities held to maturity 42,075 — 44,253 — 44,253 Federal Home Loan Bank stock 7,323 N/A N/A N/A N/A Loans held for sale 186 — 186 — 186 Loans, net 606,625 — — 614,162 614,162 Accrued interest receivable 3,116 — 1,111 2,005 3,116 Financial liabilities Deposits $ 877,997 $ 120,043 $ 739,152 $ — $ 859,195 Securities sold under agreements to repurchase — — — — — Federal Home Loan Bank advances 3,081 — 3,076 — 3,076 Subordinated capital notes 4,050 — — 3,933 3,933 Junior subordinated debentures 21,000 — — 12,810 12,810 Accrued interest payable 2,805 — 422 2,383 2,805 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 20 - Stock Plans and Sto46
Note 20 - Stock Plans and Stock Based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Schedule of Nonvested Share Activity [Table Text Block] | Twelve Months Ended , 2015 Twelve Months Ended December 31, 2014 Shares Weighted Average Grant Price Shares Weighted Average Grant 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 (31,842 ) 1.13 (5,979 ) 4.21 Outstanding, ending 922,419 $ 0.96 770,440 $ 1.33 |
Schedule of Share-based Compensation, Nonemployee Director Stock Award Plan, Activity [Table Text Block] | Twelve Months Ended December 31, 2015 Twelve Months Ended December 31, 2014 Shares Weighted Grant Price Shares Weighted Average Grant Price Outstanding, beginning 5,052 $ 1.65 47,428 $ 1.69 Granted 115,740 1.08 166,668 0.90 Vested (120,792 ) 1.10 (154,222 ) 0.98 Forfeited — — (54,822 ) 1.29 Outstanding, ending — $ — 5,052 $ 1.65 |
Schedule of Unrecognized Compensation Cost, Nonvested Awards [Table Text Block] | 2016 $ 252 2017 156 2018 149 2019 & thereafter — |
Note 21 - Earnings (Loss) Per47
Note 21 - Earnings (Loss) Per Share (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | 201 5 201 4 201 3 (in thousands, except share and per share data) Net loss $ (3,213 ) $ (11,155 ) $ (1,586 ) Less: Preferred stock dividends — 2,362 1,919 Effect of preferred stock exchange — (36,104 ) — Accretion of Series A preferred stock discount — — 160 Income (loss) attributable to unvested shares (122 ) 1,435 (171 ) Income (loss) attributable to participating preferred shares (214 ) 1,724 (96 ) Net income (loss) attributable to common shareholders, basic and diluted $ (2,877 ) $ 19,428 $ (3,398 ) Basic Weighted average common shares including unvested common shares and participating preferred shares outstanding 25,959,720 14,230,936 12,722,782 Less: Weighted average unvested common shares 986,777 904,208 595,150 Weighted average Series B Preferred Shares 666,345 299,855 — Weighted average Series C Preferred Shares — 308,269 332,894 Weighted average Series D Preferred Shares 1,061,589 477,715 — Weighted average common shares outstanding 23,245,009 12,240,889 11,794,738 Basic income (loss) per common share $ (0.12 ) $ 1.59 $ (0.29 ) Diluted Add: Dilutive effects of assumed exercises of common and Preferred Series C stock warrants — — — Weighted average common shares and potential common shares 23,245,009 12,240,889 11,794,738 Diluted income (loss) per common share $ (0.12 ) $ 1.59 $ (0.29 ) |
Note 22 - Parent Company Only48
Note 22 - Parent Company Only Condensed Financial Information (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |
Condensed Balance Sheet [Table Text Block] | 2015 2014 (in thousands) ASSETS Cash and cash equivalents $ 986 $ 1,275 Securities available for sale — 658 Investment in banking subsidiary 55,642 58,097 Investment in and advances to other subsidiaries 3,360 776 Other assets 734 730 Total assets $ 60,722 $ 61,536 LIABILITIES AND SHAREHOLDERS’ EQUITY Debt $ 25,775 $ 25,775 Accrued expenses and other liabilities 2,930 2,296 Shareholders’ equity 32,017 33,465 Total liabilities and shareholders’ equity $ 60,722 $ 61,536 |
Condensed Income Statement [Table Text Block] | 201 5 201 4 201 3 (in thousands) Interest income $ 46 $ 53 $ 82 Dividends from subsidiaries 20 19 20 Other income 102 44 966 Interest expense (647 ) (631 ) (642 ) Other expense (1,457 ) (1,765 ) (2,064 ) Loss before income tax and undistributed subsidiary income (1,936 ) (2,280 ) (1,638 ) Income tax expense — 13 — Equity in undistributed subsidiary income (loss) (1,277 ) (8,862 ) 52 Net loss $ (3,213 ) $ (11,155 ) $ (1,586 ) |
Condensed Cash Flow Statement [Table Text Block] | 201 5 201 4 20 13 (in thousands) Cash flows from operating activities Net loss $ (3,213 ) $ (11,155 ) $ (1,586 ) Adjustments: Equity in undistributed subsidiary (income) loss 1,277 8,862 (52 ) Gain on sale of assets (70 ) (44 ) (727 ) Tax expense from OCI components — 13 — Change in other assets (40 ) (26 ) (240 ) Change in other liabilities 634 1,040 833 Other 481 591 640 Net cash (used in) operating activities (931 ) (719 ) (1,132 ) Cash flows from investing activities Investments in subsidiaries — — — Sales of securities 642 179 1,952 Net cash (used in) from investing activities 642 179 1,952 Cash flows from financing activities Dividends paid on preferred stock — — — Dividends paid on common stock — — — Net cash (used in) financing activities — — — Net change in cash and cash equivalents (289 ) (540 ) 820 Beginning cash and cash equivalents 1,275 1,815 995 Ending cash and cash equivalents $ 986 $ 1,275 $ 1,815 |
Note 23 - Quarterly Financial49
Note 23 - Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Quarterly Financial Information Disclosure [Abstract] | |
Schedule of Quarterly Financial Information [Table Text Block] | Earnings (Loss) Per Common Share Interest Income Net Interest Income Provision For Loan Losses OREO Expense Net Income (Loss) Basic (1) Diluted (1) (in thousands, except per share data) 201 5 First quarter $ 9,203 $ 7,290 $ — $ 733 $ 594 $ 0.02 $ 0.02 Second quarter 9,167 7,339 — 2,932 (2,130 )(2) (0.08 ) (0.08 ) Third quarter 9,179 7,482 (2,200 ) 5,131 (1,076 )(3 ) (0.04 ) (0.04 ) Fourth quarter 9,025 7,440 (2,300 ) 3,506 (601 )(3) (0.02 ) (0.02 ) 201 4 First quarter $ 9,897 $ 7,300 $ — $ 662 $ (287 ) $ (0.08 ) $ (0.08 ) Second quarter 10,166 7,614 6,300 774 (6,234 )(4) (0.53 ) (0.53 ) Third quarter 9,814 7,337 — 560 (849 ) (0.12 ) (0.12 ) Fourth quarter 9,636 7,467 800 3,843 (3,785 )(5 ) 1.91 1.91 |
Note 1 - Summary of Significa50
Note 1 - Summary of Significant Accounting Policies (Details) - USD ($) $ / shares in Units, $ in Millions | Feb. 25, 2015 | Dec. 31, 2015 | Dec. 31, 2014 |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | |||
Noncontrolling Interest, Ownership Percentage by Parent | 100.00% | ||
Pledged Assets, Other, Not Separately Reported on Statement of Financial Position (in Dollars) | $ 9.8 | ||
Derivative, Remaining Maturity | 60 days | ||
Class of Warrant or Right To Purchase Common Shares, Cancelled | 798,915 | ||
Class Of Warrant Or Right To Purchase Common Shares, Cancelled, Value (in Dollars) | $ 45.7 | ||
Stock Issued (in Dollars) | 9.6 | ||
Stockholders' Equity, Period Increase (Decrease) (in Dollars) | $ 7.4 | ||
Series B Preferred Stock [Member] | |||
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | |||
Conversion of Stock, Shares Converted | 40,536 | ||
Series D Preferred Stock [Member] | |||
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | |||
Conversion of Stock, Shares Converted | 64,580 | ||
Nonvoting Common Stock [Member] | |||
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | |||
Conversion of Stock, Shares Converted | 6,458,000 | ||
Non-voting Noncumulative Non-convertible Series E Perpetual Preferred stock [Member] | |||
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | |||
Conversion of Stock, Shares Converted | 6,198 | ||
Preferred Stock, Liquidation Preference Per Share (in Dollars per share) | $ 1,000 | ||
Preferred Stock, Dividend Rate, Percentage | 2.00% | ||
Non-voting Noncumulative Non-convertible Series F Perpetual Preferred Stock [Member] | |||
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | |||
Conversion of Stock, Shares Converted | 4,304 | ||
Preferred Stock, Liquidation Preference Per Share (in Dollars per share) | $ 1,000 | ||
Preferred Stock, Dividend Rate, Percentage | 2.00% | ||
Commercial Portfolio Segment [Member] | |||
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | |||
Loan Payments Delinquency Period Beyond which Loans Considered Past Due | 90 days | ||
Consumer Portfolio Segment [Member] | |||
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | |||
Loan Payments Delinquency Period Beyond which Loans Considered Past Due | 90 days | ||
Common Stock [Member] | |||
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | |||
Stockholders' Equity, Period Increase (Decrease) (in Dollars) | $ 36.1 | ||
Stock Issued During Period, Shares, Exchange of Preferred Stock For Common Stock | 1,821,428 | ||
Conversion of Stock, Shares Converted | 4,053,600 | ||
Minimum [Member] | Building [Member] | |||
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | |||
Property, Plant and Equipment, Useful Life | 5 years | ||
Minimum [Member] | Furniture and Fixtures [Member] | |||
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | |||
Property, Plant and Equipment, Useful Life | 3 years | ||
Minimum [Member] | Core Deposits [Member] | |||
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | |||
Finite-Lived Intangible Asset, Useful Life | 7 years | ||
Maximum [Member] | |||
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | |||
Ownership Percentage of Common Shares Outstanding | 9.90% | ||
Maximum [Member] | Building [Member] | |||
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | |||
Property, Plant and Equipment, Useful Life | 33 years | ||
Maximum [Member] | Furniture and Fixtures [Member] | |||
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | |||
Property, Plant and Equipment, Useful Life | 7 years | ||
Maximum [Member] | Core Deposits [Member] | |||
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | |||
Finite-Lived Intangible Asset, Useful Life | 10 years |
Note 2 - Going Concern Consid51
Note 2 - Going Concern Considerations and Future Plans (Details) $ in Thousands, shares in Millions | 3 Months Ended | 12 Months Ended | ||||||||||||||
Dec. 31, 2015USD ($) | Sep. 30, 2015USD ($) | Jun. 30, 2015USD ($) | Mar. 31, 2015USD ($) | Dec. 31, 2014USD ($) | Sep. 30, 2014USD ($) | Jun. 30, 2014USD ($) | Mar. 31, 2014USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($)shares | Dec. 31, 2014USD ($) | Dec. 31, 2013USD ($) | |||||
Note 2 - Going Concern Considerations and Future Plans (Details) [Line Items] | ||||||||||||||||
Net Income (Loss) Attributable to Parent | $ (601) | $ (1,076) | [1] | $ (2,130) | [2] | $ 594 | $ (3,785) | [3] | $ (849) | $ (6,234) | [4] | $ (287) | $ (3,213) | $ (11,155) | $ (1,586) | |
Net Income (Loss) Available to Common Stockholders, Basic | (2,877) | 19,428 | (3,398) | |||||||||||||
Foreclosed Real Estate Expense | 3,506 | 5,131 | $ 2,932 | $ 733 | 3,843 | $ 560 | 774 | $ 662 | 12,302 | 5,839 | 4,516 | |||||
Provision for loan losses | (2,300) | $ (2,200) | 800 | $ 6,300 | (4,500) | 7,100 | $ 700 | |||||||||
Financing Receivable, Recorded Investment, Nonaccrual Status | $ 14,087 | $ 47,175 | $ 14,087 | $ 47,175 | ||||||||||||
Number of Consecutive Quarterly Periods to Defer Interest Payments Without Default or Penalty | 20 | 20 | ||||||||||||||
Dividends Payable | $ 2,500 | $ 2,500 | ||||||||||||||
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 | 4.74% | 4.51% | 4.74% | 4.51% | ||||||||||||
Capital to Risk Weighted Assets | 10.46% | 10.61% | 10.46% | 10.61% | ||||||||||||
Cash | $ 1,000 | $ 1,000 | ||||||||||||||
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 | 10,500 | ||||||||||||||
Scenario, Forecast [Member] | ||||||||||||||||
Note 2 - Going Concern Considerations and Future Plans (Details) [Line Items] | ||||||||||||||||
Operating Expenses | $ 1,000 | |||||||||||||||
Nonperforming Financial Instruments [Member] | ||||||||||||||||
Note 2 - Going Concern Considerations and Future Plans (Details) [Line Items] | ||||||||||||||||
Increase (Decrease) in Finance Receivables | $ (33,100) | |||||||||||||||
Finance Receivables, Decrease Percentage | 70.10% | |||||||||||||||
Substandard [Member] | ||||||||||||||||
Note 2 - Going Concern Considerations and Future Plans (Details) [Line Items] | ||||||||||||||||
Increase (Decrease) in Finance Receivables | $ (55,100) | |||||||||||||||
Finance Receivables, Decrease Percentage | 60.20% | |||||||||||||||
Allowance for Loan and Lease Losses Write-offs, Net | $ 2,800 | $ 15,900 | ||||||||||||||
PBI Bank [Member] | ||||||||||||||||
Note 2 - Going Concern Considerations and Future Plans (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 | 6.08% | 5.78% | 6.08% | 5.78% | ||||||||||||
Capital to Risk Weighted Assets | 10.58% | 10.57% | 10.58% | 10.57% | ||||||||||||
PBI Bank [Member] | Consent Order [Member] | ||||||||||||||||
Note 2 - Going Concern Considerations and Future Plans (Details) [Line Items] | ||||||||||||||||
Tier One Leverage Capital Required for Capital Adequacy to Average Assets | 9.00% | 9.00% | ||||||||||||||
Capital Required for Capital Adequacy to Risk Weighted Assets | 12.00% | 12.00% | ||||||||||||||
Subsidiaries [Member] | Common Stock [Member] | Unrelated Third Party [Member] | Voting Common Stock [Member] | ||||||||||||||||
Note 2 - Going Concern Considerations and Future Plans (Details) [Line Items] | ||||||||||||||||
Common Shares, Issuable (in Shares) | shares | 5 | |||||||||||||||
Loans, Total [Member] | Credit Concentration Risk [Member] | Nonperforming Financial Instruments [Member] | ||||||||||||||||
Note 2 - Going Concern Considerations and Future Plans (Details) [Line Items] | ||||||||||||||||
Concentration Risk, Percentage | 2.28% | 7.57% | ||||||||||||||
Assets, Total [Member] | Credit Concentration Risk [Member] | Nonperforming Financial Instruments [Member] | ||||||||||||||||
Note 2 - Going Concern Considerations and Future Plans (Details) [Line Items] | ||||||||||||||||
Concentration Risk, Percentage | 3.51% | 9.19% | ||||||||||||||
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 | ||||||||||||||
Dividends Payable | $ 2,500 | $ 2,500 | ||||||||||||||
[1] | The net loss for the third and fourth quarters of 2015 was positively impacted by a $2.2 million and $2.3 million negative provision for loans losses, respectively, and negatively impacted by OREO expenses of $5.1 million and $3.5 million, respectively. | |||||||||||||||
[2] | The $2.1 million loss for the second quarter of 2015 was primarily due to OREO expenses. | |||||||||||||||
[3] | The $3.8 million loss for the fourth quarter of 2014 was primarily due to OREO expenses of $3.8 million. | |||||||||||||||
[4] | The $6.2 million loss for the second quarter of 2014 was primarily due to provision for loan losses expense of $6.3 million. |
Note 3 - Securities (Details)
Note 3 - Securities (Details) | 12 Months Ended | ||
Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | Dec. 31, 2013USD ($) | |
Note 3 - Securities (Details) [Line Items] | |||
Available-For-Sale Securities, Realized Gain (Loss), Income Tax Expense (Benefit) | $ 618,000 | $ 46,000 | $ 253,000 |
Available-for-sale Securities Pledged as Collateral | 68,000,000 | 80,800,000 | |
Available-for-sale Securities | $ 144,978,000 | $ 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 | Dec. 31, 2015 | Dec. 31, 2014 |
Available for sale | ||
Available for sale securities, amortized cost | $ 144,502 | $ 188,059 |
Available for sale securities, gross unrealized gains | 1,359 | 3,939 |
Available for sale securities, gross unrealized losses | (883) | (1,207) |
Securities available for sale | 144,978 | 190,791 |
Held to maturity | ||
Held to maturity securities, amortized cost | 42,075 | 42,325 |
Held to maturity securities, gross unrealized gains | 2,178 | 2,173 |
Held to maturity securities, fair value | 44,253 | 44,498 |
US Treasury and Government [Member] | ||
Available for sale | ||
Available for sale securities, amortized cost | 33,491 | 35,725 |
Available for sale securities, gross unrealized gains | 146 | 308 |
Available for sale securities, gross unrealized losses | (375) | (590) |
Securities available for sale | 33,262 | 35,443 |
Residential Mortgage Backed Securities [Member] | ||
Available for sale | ||
Available for sale securities, amortized cost | 102,135 | 121,985 |
Available for sale securities, gross unrealized gains | 907 | 1,970 |
Available for sale securities, gross unrealized losses | (380) | (357) |
Securities available for sale | 102,662 | 123,598 |
US States and Political Subdivisions Debt Securities [Member] | ||
Available for sale | ||
Available for sale securities, amortized cost | 6,555 | 11,690 |
Available for sale securities, gross unrealized gains | 306 | 722 |
Available for sale securities, gross unrealized losses | (8) | |
Securities available for sale | 6,861 | 12,404 |
Held to maturity | ||
Held to maturity securities, amortized cost | 42,075 | 42,325 |
Held to maturity securities, gross unrealized gains | 2,178 | 2,173 |
Held to maturity securities, fair value | 44,253 | 44,498 |
Corporate Debt Securities [Member] | ||
Available for sale | ||
Available for sale securities, amortized cost | 2,321 | 18,087 |
Available for sale securities, gross unrealized gains | 853 | |
Available for sale securities, gross unrealized losses | (128) | (252) |
Securities available for sale | $ 2,193 | 18,688 |
Other Debt Obligations [Member] | ||
Available for sale | ||
Available for sale securities, amortized cost | 572 | |
Available for sale securities, gross unrealized gains | 86 | |
Securities available for sale | $ 658 |
Note 3 - Securities (Details)54
Note 3 - Securities (Details) - Sales and Calls of Available for Sale Securities - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Sales and Calls of Available for Sale Securities [Abstract] | |||
Proceeds | $ 45,012 | $ 6,251 | $ 8,061 |
Gross gains | 1,902 | $ 132 | 873 |
Gross losses | $ 136 | $ 150 |
Note 3 - Securities (Details)55
Note 3 - Securities (Details) - Amortized Cost and Fair Value of Debt Investment Securities Portfolio by Contractual Maturity - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Available for sale | ||
Within one year | $ 6,113 | |
Within one year | 6,053 | |
One to five years | 8,211 | |
One to five years | 8,512 | |
Five to ten years | 28,043 | |
Five to ten years | 27,751 | |
Agency mortgage-backed: residential | 102,135 | |
Agency mortgage-backed: residential | 102,662 | |
Total | 144,502 | |
Total | 144,978 | |
Held to maturity | ||
One to five years | 16,579 | |
One to five years | 17,237 | |
Five to ten years | 21,938 | |
Five to ten years | 23,222 | |
Beyond ten years | 3,558 | |
Beyond ten years | 3,794 | |
Total | 42,075 | $ 42,325 |
Total | $ 44,253 | $ 44,498 |
Note 3 - Securities (Details)56
Note 3 - Securities (Details) - Securities with Unrealized Losses - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Available for sale | ||
Available for sale, fair value, less than 12 months | $ 44,130 | $ 20,191 |
Available for sale, unrealized loss, less than 12 months | (333) | (199) |
Available for sale, fair value, 12 months or more | 19,829 | 38,279 |
Available for sale, unrealized loss, 12 months or more | (550) | (1,008) |
Available for sale, fair value | 63,959 | 58,470 |
Available for sale, unrealized loss | (883) | (1,207) |
US Treasury and Government [Member] | ||
Available for sale | ||
Available for sale, fair value, less than 12 months | 7,058 | 7,778 |
Available for sale, unrealized loss, less than 12 months | (44) | (60) |
Available for sale, fair value, 12 months or more | 14,527 | 18,681 |
Available for sale, unrealized loss, 12 months or more | (331) | (530) |
Available for sale, fair value | 21,585 | 26,459 |
Available for sale, unrealized loss | (375) | (590) |
Residential Mortgage Backed Securities [Member] | ||
Available for sale | ||
Available for sale, fair value, less than 12 months | 36,325 | 6,960 |
Available for sale, unrealized loss, less than 12 months | (271) | (12) |
Available for sale, fair value, 12 months or more | 3,856 | 17,938 |
Available for sale, unrealized loss, 12 months or more | (109) | (345) |
Available for sale, fair value | 40,181 | 24,898 |
Available for sale, unrealized loss | (380) | (357) |
Corporate Debt Securities [Member] | ||
Available for sale | ||
Available for sale, fair value, less than 12 months | 747 | 4,884 |
Available for sale, unrealized loss, less than 12 months | (18) | (119) |
Available for sale, fair value, 12 months or more | 1,446 | 1,660 |
Available for sale, unrealized loss, 12 months or more | (110) | (133) |
Available for sale, fair value | 2,193 | 6,544 |
Available for sale, unrealized loss | $ (128) | (252) |
US States and Political Subdivisions Debt Securities [Member] | ||
Available for sale | ||
Available for sale, fair value, less than 12 months | 569 | |
Available for sale, unrealized loss, less than 12 months | (8) | |
Available for sale, fair value, 12 months or more | 0 | |
Available for sale, unrealized loss, 12 months or more | 0 | |
Available for sale, fair value | 569 | |
Available for sale, unrealized loss | $ (8) |
Note 4 - Loans (Details)
Note 4 - Loans (Details) | 12 Months Ended | |
Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | |
Receivables [Abstract] | ||
Financing Receivable, Modifications, Percentage of Performing TDR's to Total TDR's | 83.00% | 52.00% |
Troubled Debt Restructuring Reserve | $ 179,000 | $ 579,000 |
Loans and Leases Receivable, Impaired, Commitment to Lend | $ 0 | $ 0 |
Financing Receivable, Modifications, Number of Contracts | 0 | 0 |
Minimum Outstanding Balance for Loans to Be Qualified for Credit Risk Analysis | $ 500,000 |
Note 4 - Loans (Details) - Loan
Note 4 - Loans (Details) - Loans - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Gross loans | $ 618,666 | $ 624,999 |
Less: Allowance for loan losses | (12,041) | (19,364) |
Loans, net | 606,625 | 605,635 |
Commercial Portfolio Segment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Gross loans | 86,176 | 60,936 |
Less: Allowance for loan losses | (818) | (2,046) |
Commercial Real Estate Portfolio Segment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Gross loans | 250,136 | 286,044 |
Less: Allowance for loan losses | (6,993) | (10,931) |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Gross loans | 33,154 | 33,173 |
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Gross loans | 76,412 | 77,419 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Gross loans | 140,570 | 175,452 |
Residential Portfolio Segment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Gross loans | 245,609 | 239,169 |
Less: Allowance for loan losses | (3,984) | (5,787) |
Residential Portfolio Segment [Member] | Multifamily Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Gross loans | 44,131 | 41,891 |
Residential Portfolio Segment [Member] | One- to Four-family Residential Properties [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Gross loans | 201,478 | 197,278 |
Consumer Portfolio Segment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Gross loans | 10,010 | 11,347 |
Less: Allowance for loan losses | (122) | (274) |
Agriculture Portfolio Segment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Gross loans | 26,316 | 26,966 |
Less: Allowance for loan losses | (122) | (319) |
Other Portfolio Segment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Gross loans | 419 | 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 | 12 Months Ended | |||||
Dec. 31, 2015 | Sep. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||
Beginning balance | $ 19,364 | $ 28,124 | $ 56,680 | ||||
Provision for loan losses | $ (2,300) | $ (2,200) | $ 800 | $ 6,300 | (4,500) | 7,100 | 700 |
Loans charged off | (6,132) | (19,426) | (32,608) | ||||
Recoveries | 3,309 | 3,566 | 3,352 | ||||
Ending balance | 12,041 | 19,364 | 12,041 | 19,364 | 28,124 | ||
Commercial Portfolio Segment [Member] | |||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||
Beginning balance | 2,046 | 3,221 | 4,402 | ||||
Provision for loan losses | (1,255) | (690) | 435 | ||||
Loans charged off | (696) | (1,099) | (2,828) | ||||
Recoveries | 723 | 614 | 1,212 | ||||
Ending balance | 818 | 2,046 | 818 | 2,046 | 3,221 | ||
Commercial Real Estate Portfolio Segment [Member] | |||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||
Beginning balance | 10,931 | 16,414 | 34,768 | ||||
Provision for loan losses | (2,713) | 6,395 | 1,691 | ||||
Loans charged off | (2,879) | (13,846) | (21,176) | ||||
Recoveries | 1,654 | 1,968 | 1,131 | ||||
Ending balance | 6,993 | 10,931 | 6,993 | 10,931 | 16,414 | ||
Residential Portfolio Segment [Member] | |||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||
Beginning balance | 5,787 | 7,762 | 16,235 | ||||
Provision for loan losses | (316) | 1,364 | (1,261) | ||||
Loans charged off | (2,171) | (4,097) | (7,703) | ||||
Recoveries | 684 | 758 | 491 | ||||
Ending balance | 3,984 | 5,787 | 3,984 | 5,787 | 7,762 | ||
Consumer Portfolio Segment [Member] | |||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||
Beginning balance | 274 | 416 | 857 | ||||
Provision for loan losses | (115) | 25 | 66 | ||||
Loans charged off | (221) | (335) | (773) | ||||
Recoveries | 184 | 168 | 266 | ||||
Ending balance | 122 | 274 | 122 | 274 | 416 | ||
Agriculture Portfolio Segment [Member] | |||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||
Beginning balance | 319 | 305 | 403 | ||||
Provision for loan losses | (87) | 31 | (222) | ||||
Loans charged off | (118) | (30) | (128) | ||||
Recoveries | 8 | 13 | 252 | ||||
Ending balance | 122 | 319 | 122 | 319 | 305 | ||
Other Portfolio Segment [Member] | |||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||
Beginning balance | 7 | 6 | 15 | ||||
Provision for loan losses | (14) | (25) | (9) | ||||
Loans charged off | (47) | (19) | |||||
Recoveries | 56 | 45 | |||||
Ending balance | $ 2 | $ 7 | $ 2 | $ 7 | $ 6 |
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 | Dec. 31, 2015 | Dec. 31, 2014 |
Ending allowance balance attributable to loans: | ||
Individually evaluated for impairment | $ 428 | $ 752 |
Collectively evaluated for impairment | 11,613 | 18,612 |
Total ending allowance balance | 12,041 | 19,364 |
Loans: | ||
Loans individually evaluated for impairment | 31,776 | 71,993 |
Loans collectively evaluated for impairment | 586,890 | 553,006 |
Total ending loans balance | 618,666 | 624,999 |
Commercial Portfolio Segment [Member] | ||
Ending allowance balance attributable to loans: | ||
Individually evaluated for impairment | 0 | 33 |
Collectively evaluated for impairment | 818 | 2,013 |
Total ending allowance balance | 818 | 2,046 |
Loans: | ||
Loans individually evaluated for impairment | 1,112 | 2,022 |
Loans collectively evaluated for impairment | 85,064 | 58,914 |
Total ending loans balance | 86,176 | 60,936 |
Commercial Real Estate Portfolio Segment [Member] | ||
Ending allowance balance attributable to loans: | ||
Individually evaluated for impairment | 43 | 491 |
Collectively evaluated for impairment | 6,950 | 10,440 |
Total ending allowance balance | 6,993 | 10,931 |
Loans: | ||
Loans individually evaluated for impairment | 12,819 | 48,141 |
Loans collectively evaluated for impairment | 237,317 | 237,903 |
Total ending loans balance | 250,136 | 286,044 |
Residential Portfolio Segment [Member] | ||
Ending allowance balance attributable to loans: | ||
Individually evaluated for impairment | 385 | 227 |
Collectively evaluated for impairment | 3,599 | 5,560 |
Total ending allowance balance | 3,984 | 5,787 |
Loans: | ||
Loans individually evaluated for impairment | 17,673 | 21,384 |
Loans collectively evaluated for impairment | 227,936 | 217,785 |
Total ending loans balance | 245,609 | 239,169 |
Consumer Portfolio Segment [Member] | ||
Ending allowance balance attributable to loans: | ||
Individually evaluated for impairment | 0 | 1 |
Collectively evaluated for impairment | 122 | 273 |
Total ending allowance balance | 122 | 274 |
Loans: | ||
Loans individually evaluated for impairment | 20 | 61 |
Loans collectively evaluated for impairment | 9,990 | 11,286 |
Total ending loans balance | 10,010 | 11,347 |
Agriculture Portfolio Segment [Member] | ||
Ending allowance balance attributable to loans: | ||
Individually evaluated for impairment | 0 | 0 |
Collectively evaluated for impairment | 122 | 319 |
Total ending allowance balance | 122 | 319 |
Loans: | ||
Loans individually evaluated for impairment | 152 | 263 |
Loans collectively evaluated for impairment | 26,164 | 26,703 |
Total ending loans balance | 26,316 | 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 | 419 | 415 |
Total ending loans balance | $ 419 | $ 537 |
Note 4 - Loans (Details) - Lo61
Note 4 - Loans (Details) - Loans Individually Evaluated for Impairment by Class of Loans - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
With No Related Allowance Recorded: | |||
Unpaid principal balance, with no related allowance recorded | $ 33,572 | $ 67,646 | $ 148,445 |
Recorded investment with no related allowance recorded | 25,426 | 48,996 | 119,207 |
Average recorded investment with no related allowance recorded | 37,986 | 78,584 | 109,396 |
Interest income recognized with no related allowance recorded | 857 | 1,539 | 1,956 |
Cash basis income recognized with no related allowance recorded | 233 | 500 | 958 |
With An Allowance Recorded: | |||
Unpaid principal balance, with an allowance recorded | 6,459 | 26,346 | 32,194 |
Recorded investment, with an allowance recorded | 6,350 | 22,997 | 30,676 |
Allowance for loan losses allocated, with an allowance recorded | 428 | 752 | 3,471 |
Average recorded investment, with an allowance recorded | 10,609 | 21,910 | 59,928 |
Cash basis income recognized, with an allowance recorded | 318 | 660 | 1,335 |
Residential real estate: | |||
Unpaid principal balance, total | 40,031 | 93,992 | 180,639 |
Recorded investment, total | 31,776 | 71,993 | 149,883 |
Allowance for loan losses allocated, total | 428 | 752 | 3,471 |
Average recorded investment, total | 48,595 | 100,494 | 169,324 |
Interest income recognized, total | 1,175 | 2,199 | 3,291 |
Cash basis income recognized, total | 233 | 500 | 958 |
Commercial Portfolio Segment [Member] | |||
With No Related Allowance Recorded: | |||
Unpaid principal balance, with no related allowance recorded | 1,558 | 2,546 | 3,569 |
Recorded investment with no related allowance recorded | 1,112 | 1,978 | 2,623 |
Average recorded investment with no related allowance recorded | 1,526 | 2,256 | 3,829 |
Interest income recognized with no related allowance recorded | 5 | 64 | 81 |
Cash basis income recognized with no related allowance recorded | 5 | 55 | 30 |
With An Allowance Recorded: | |||
Unpaid principal balance, with an allowance recorded | 145 | 2,372 | |
Recorded investment, with an allowance recorded | 44 | 2,372 | |
Allowance for loan losses allocated, with an allowance recorded | 33 | 290 | |
Average recorded investment, with an allowance recorded | 13 | 961 | 1,698 |
Cash basis income recognized, with an allowance recorded | 23 | 48 | |
Residential real estate: | |||
Allowance for loan losses allocated, total | 33 | 290 | |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||
With No Related Allowance Recorded: | |||
Unpaid principal balance, with no related allowance recorded | 278 | 4,714 | 9,022 |
Recorded investment with no related allowance recorded | 262 | 4,100 | 8,042 |
Average recorded investment with no related allowance recorded | 1,993 | 5,446 | 15,511 |
Interest income recognized with no related allowance recorded | 14 | 12 | 232 |
Cash basis income recognized with no related allowance recorded | 1 | 164 | |
With An Allowance Recorded: | |||
Unpaid principal balance, with an allowance recorded | 1,525 | ||
Recorded investment, with an allowance recorded | 1,260 | ||
Allowance for loan losses allocated, with an allowance recorded | 218 | ||
Average recorded investment, with an allowance recorded | 589 | 5,129 | |
Cash basis income recognized, with an allowance recorded | 16 | 20 | |
Residential real estate: | |||
Allowance for loan losses allocated, total | 218 | ||
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | |||
With No Related Allowance Recorded: | |||
Unpaid principal balance, with no related allowance recorded | 6,004 | 6,636 | 9,977 |
Recorded investment with no related allowance recorded | 4,263 | 4,739 | 7,890 |
Average recorded investment with no related allowance recorded | 4,497 | 6,150 | 8,614 |
Interest income recognized with no related allowance recorded | 114 | 75 | 270 |
Cash basis income recognized with no related allowance recorded | 114 | 75 | 268 |
With An Allowance Recorded: | |||
Unpaid principal balance, with an allowance recorded | 658 | 246 | |
Recorded investment, with an allowance recorded | 315 | 246 | |
Allowance for loan losses allocated, with an allowance recorded | 38 | 65 | |
Average recorded investment, with an allowance recorded | 63 | 112 | 1,224 |
Cash basis income recognized, with an allowance recorded | 35 | ||
Residential real estate: | |||
Allowance for loan losses allocated, total | 38 | 65 | |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | |||
With No Related Allowance Recorded: | |||
Unpaid principal balance, with no related allowance recorded | 11,256 | 34,437 | 75,331 |
Recorded investment with no related allowance recorded | 7,829 | 22,418 | 57,397 |
Average recorded investment with no related allowance recorded | 16,073 | 39,852 | 43,419 |
Interest income recognized with no related allowance recorded | 263 | 693 | 851 |
Cash basis income recognized with no related allowance recorded | 9 | 128 | 366 |
With An Allowance Recorded: | |||
Unpaid principal balance, with an allowance recorded | 574 | 19,454 | 20,748 |
Recorded investment, with an allowance recorded | 465 | 16,569 | 19,495 |
Allowance for loan losses allocated, with an allowance recorded | 43 | 453 | 2,062 |
Average recorded investment, with an allowance recorded | 4,591 | 13,933 | 36,031 |
Cash basis income recognized, with an allowance recorded | 25 | 360 | 840 |
Residential real estate: | |||
Allowance for loan losses allocated, total | 43 | 453 | 2,062 |
Residential Portfolio Segment [Member] | Multifamily Loans [Member] | |||
With No Related Allowance Recorded: | |||
Unpaid principal balance, with no related allowance recorded | 32 | 81 | 9,332 |
Recorded investment with no related allowance recorded | 32 | 81 | 7,514 |
Average recorded investment with no related allowance recorded | 35 | 1,664 | 6,475 |
Interest income recognized with no related allowance recorded | 7 | ||
Cash basis income recognized with no related allowance recorded | 3 | ||
With An Allowance Recorded: | |||
Unpaid principal balance, with an allowance recorded | 4,195 | 4,266 | 4,995 |
Recorded investment, with an allowance recorded | 4,195 | 4,266 | 4,995 |
Allowance for loan losses allocated, with an allowance recorded | 57 | 91 | 393 |
Average recorded investment, with an allowance recorded | 4,229 | 4,426 | 7,187 |
Cash basis income recognized, with an allowance recorded | 204 | 180 | 204 |
Residential real estate: | |||
Allowance for loan losses allocated, total | 57 | 91 | 393 |
Residential Portfolio Segment [Member] | One- to Four-family Residential Properties [Member] | |||
With No Related Allowance Recorded: | |||
Unpaid principal balance, with no related allowance recorded | 14,066 | 18,496 | 39,929 |
Recorded investment with no related allowance recorded | 11,756 | 15,266 | 34,779 |
Average recorded investment with no related allowance recorded | 13,584 | 22,670 | 31,066 |
Interest income recognized with no related allowance recorded | 456 | 676 | 495 |
Cash basis income recognized with no related allowance recorded | 99 | 226 | 116 |
With An Allowance Recorded: | |||
Unpaid principal balance, with an allowance recorded | 1,690 | 1,791 | 2,224 |
Recorded investment, with an allowance recorded | 1,690 | 1,771 | 2,224 |
Allowance for loan losses allocated, with an allowance recorded | 328 | 136 | 434 |
Average recorded investment, with an allowance recorded | 1,705 | 1,840 | 8,222 |
Cash basis income recognized, with an allowance recorded | 89 | 78 | 177 |
Residential real estate: | |||
Allowance for loan losses allocated, total | 328 | 136 | 434 |
Consumer Portfolio Segment [Member] | |||
With No Related Allowance Recorded: | |||
Unpaid principal balance, with no related allowance recorded | 118 | 93 | 9 |
Recorded investment with no related allowance recorded | 20 | 29 | 9 |
Average recorded investment with no related allowance recorded | 23 | 14 | 33 |
Interest income recognized with no related allowance recorded | 1 | ||
With An Allowance Recorded: | |||
Unpaid principal balance, with an allowance recorded | 32 | 84 | |
Recorded investment, with an allowance recorded | 32 | 84 | |
Allowance for loan losses allocated, with an allowance recorded | 1 | 9 | |
Average recorded investment, with an allowance recorded | 8 | 49 | 122 |
Cash basis income recognized, with an allowance recorded | 3 | 2 | |
Residential real estate: | |||
Allowance for loan losses allocated, total | 1 | 9 | |
Agriculture Portfolio Segment [Member] | |||
With No Related Allowance Recorded: | |||
Unpaid principal balance, with no related allowance recorded | 260 | 276 | 401 |
Recorded investment with no related allowance recorded | 152 | 263 | 322 |
Average recorded investment with no related allowance recorded | 206 | 277 | 213 |
Interest income recognized with no related allowance recorded | 3 | ||
Cash basis income recognized with no related allowance recorded | 3 | ||
With An Allowance Recorded: | |||
Average recorded investment, with an allowance recorded | 2 | ||
Other Portfolio Segment [Member] | |||
With No Related Allowance Recorded: | |||
Unpaid principal balance, with no related allowance recorded | 367 | 875 | |
Recorded investment with no related allowance recorded | 122 | 631 | |
Average recorded investment with no related allowance recorded | 49 | 255 | 236 |
Interest income recognized with no related allowance recorded | 5 | 16 | 19 |
Cash basis income recognized with no related allowance recorded | $ 5 | $ 13 | 11 |
With An Allowance Recorded: | |||
Average recorded investment, with an allowance recorded | 313 | ||
Cash basis income recognized, with an allowance recorded | $ 9 |
Note 4 - Loans (Details) - Type
Note 4 - Loans (Details) - Types of Troubled Debt Restructuring Loan Modification by Portfolio Segment - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Commercial | ||
Troubled Debt Restructuring | $ 20,984 | $ 42,492 |
Performing Financial Instruments [Member] | ||
Commercial | ||
Troubled Debt Restructuring | 17,440 | 21,985 |
Nonperforming Financial Instruments [Member] | ||
Commercial | ||
Troubled Debt Restructuring | 3,544 | 20,507 |
Commercial Portfolio Segment [Member] | Contractual Interest Rate Reduction [Member] | ||
Commercial | ||
Troubled Debt Restructuring | 68 | 14 |
Commercial Portfolio Segment [Member] | Payment Deferral [Member] | ||
Commercial | ||
Troubled Debt Restructuring | 439 | 869 |
Commercial Portfolio Segment [Member] | Performing Financial Instruments [Member] | Contractual Interest Rate Reduction [Member] | ||
Commercial | ||
Troubled Debt Restructuring | 14 | |
Commercial Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Contractual Interest Rate Reduction [Member] | ||
Commercial | ||
Troubled Debt Restructuring | 68 | |
Commercial Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Payment Deferral [Member] | ||
Commercial | ||
Troubled Debt Restructuring | 439 | 869 |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Contractual Interest Rate Reduction [Member] | ||
Commercial | ||
Troubled Debt Restructuring | 262 | 3,647 |
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | Payment Deferral [Member] | ||
Commercial | ||
Troubled Debt Restructuring | 2,365 | 2,365 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | Contractual Interest Rate Reduction [Member] | ||
Commercial | ||
Troubled Debt Restructuring | 5,687 | 22,516 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | Payment Deferral [Member] | ||
Commercial | ||
Troubled Debt Restructuring | 622 | 671 |
Commercial Real Estate Portfolio Segment [Member] | Performing Financial Instruments [Member] | Construction Loans [Member] | Contractual Interest Rate Reduction [Member] | ||
Commercial | ||
Troubled Debt Restructuring | 262 | 268 |
Commercial Real Estate Portfolio Segment [Member] | Performing Financial Instruments [Member] | Nonfarm Nonresidential [Member] | Contractual Interest Rate Reduction [Member] | ||
Commercial | ||
Troubled Debt Restructuring | 5,637 | 8,622 |
Commercial Real Estate Portfolio Segment [Member] | Performing Financial Instruments [Member] | Nonfarm Nonresidential [Member] | Payment Deferral [Member] | ||
Commercial | ||
Troubled Debt Restructuring | 671 | |
Commercial Real Estate Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Construction Loans [Member] | Contractual Interest Rate Reduction [Member] | ||
Commercial | ||
Troubled Debt Restructuring | 3,379 | |
Commercial Real Estate Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Farmland Loans [Member] | Payment Deferral [Member] | ||
Commercial | ||
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] | ||
Commercial | ||
Troubled Debt Restructuring | 50 | 13,894 |
Commercial Real Estate Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Nonfarm Nonresidential [Member] | Payment Deferral [Member] | ||
Commercial | ||
Troubled Debt Restructuring | 622 | |
Residential Portfolio Segment [Member] | Multifamily Loans [Member] | Contractual Interest Rate Reduction [Member] | ||
Commercial | ||
Troubled Debt Restructuring | 4,195 | 4,266 |
Residential Portfolio Segment [Member] | One- to Four-family Residential Properties [Member] | Contractual Interest Rate Reduction [Member] | ||
Commercial | ||
Troubled Debt Restructuring | 7,346 | 8,112 |
Residential Portfolio Segment [Member] | Performing Financial Instruments [Member] | Multifamily Loans [Member] | Contractual Interest Rate Reduction [Member] | ||
Commercial | ||
Troubled Debt Restructuring | 4,195 | 4,266 |
Residential Portfolio Segment [Member] | Performing Financial Instruments [Member] | One- to Four-family Residential Properties [Member] | Contractual Interest Rate Reduction [Member] | ||
Commercial | ||
Troubled Debt Restructuring | $ 7,346 | 8,112 |
Consumer Portfolio Segment [Member] | Contractual Interest Rate Reduction [Member] | ||
Commercial | ||
Troubled Debt Restructuring | 32 | |
Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | Contractual Interest Rate Reduction [Member] | ||
Commercial | ||
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 | Dec. 31, 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 | $ 14,087 | $ 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 | 1,112 | 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 | 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 | 4,263 | 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 | 2,657 | 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 | 5,851 | 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 | 20 | 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 | Dec. 31, 2015 | Dec. 31, 2014 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | $ 14,087 | $ 47,175 |
Total past due and nonaccrual | 17,461 | 52,266 |
Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due | 3,133 | 3,960 |
Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due | 241 | 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] | ||
Nonaccrual | 1,112 | 1,978 |
Total past due and nonaccrual | 1,190 | 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 | 78 | 86 |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 3,831 | |
Total past due and nonaccrual | 3,831 | |
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 4,263 | 5,054 |
Total past due and nonaccrual | 4,719 | 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 | 456 | 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 | 14 | |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 2,657 | 26,892 |
Total past due and nonaccrual | 2,983 | 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 | 326 | 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 | 318 | |
Residential Portfolio Segment [Member] | Multifamily Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 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] | ||
Nonaccrual | 5,851 | 8,925 |
Total past due and nonaccrual | 8,317 | 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 | 2,225 | 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 | 241 | 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] | ||
Nonaccrual | 20 | 30 |
Total past due and nonaccrual | 61 | 186 |
Consumer Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due | 41 | 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] | ||
Nonaccrual | 152 | 263 |
Total past due and nonaccrual | 159 | 263 |
Agriculture Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due | $ 7 | |
Other Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 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 | Dec. 31, 2015 | Dec. 31, 2014 |
Financing Receivable, Recorded Investment [Line Items] | ||
Gross loans | $ 618,666 | $ 624,999 |
Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Gross loans | 517,484 | 461,126 |
Watch [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Gross loans | 63,363 | 68,200 |
Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Gross loans | 1,395 | 4,189 |
Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Gross loans | 36,424 | 91,484 |
Commercial Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Gross loans | 86,176 | 60,936 |
Commercial Portfolio Segment [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Gross loans | 81,570 | 49,440 |
Commercial Portfolio Segment [Member] | Watch [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Gross loans | 2,953 | 5,063 |
Commercial Portfolio Segment [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Gross loans | 1,653 | 6,433 |
Commercial Real Estate Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Gross loans | 250,136 | 286,044 |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Gross loans | 33,154 | 33,173 |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Gross loans | 27,603 | 25,266 |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Watch [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Gross loans | 5,289 | 2,990 |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Gross loans | 262 | 4,917 |
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Gross loans | 76,412 | 77,419 |
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Gross loans | 65,476 | 61,672 |
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | Watch [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Gross loans | 4,844 | 7,922 |
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Gross loans | 6,092 | 7,825 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Gross loans | 140,570 | 175,452 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Gross loans | 111,901 | 111,426 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | Watch [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Gross loans | 22,687 | 21,017 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Gross loans | 1,328 | 3,747 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Gross loans | 4,654 | 39,262 |
Residential Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Gross loans | 245,609 | 239,169 |
Residential Portfolio Segment [Member] | Multifamily Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Gross loans | 44,131 | 41,891 |
Residential Portfolio Segment [Member] | Multifamily Loans [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Gross loans | 35,300 | 31,526 |
Residential Portfolio Segment [Member] | Multifamily Loans [Member] | Watch [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Gross loans | 4,879 | 6,039 |
Residential Portfolio Segment [Member] | Multifamily Loans [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Gross loans | 3,952 | 4,326 |
Residential Portfolio Segment [Member] | One- to Four-family Residential Properties [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Gross loans | 201,478 | 197,278 |
Residential Portfolio Segment [Member] | One- to Four-family Residential Properties [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Gross loans | 164,490 | 145,450 |
Residential Portfolio Segment [Member] | One- to Four-family Residential Properties [Member] | Watch [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Gross loans | 17,636 | 23,928 |
Residential Portfolio Segment [Member] | One- to Four-family Residential Properties [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Gross loans | 67 | 131 |
Residential Portfolio Segment [Member] | One- to Four-family Residential Properties [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Gross loans | 19,285 | 27,769 |
Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Gross loans | 10,010 | 11,347 |
Consumer Portfolio Segment [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Gross loans | 9,323 | 10,115 |
Consumer Portfolio Segment [Member] | Watch [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Gross loans | 474 | 537 |
Consumer Portfolio Segment [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Gross loans | 311 | |
Consumer Portfolio Segment [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Gross loans | 213 | 384 |
Agriculture Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Gross loans | 26,316 | 26,966 |
Agriculture Portfolio Segment [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Gross loans | 21,402 | 25,816 |
Agriculture Portfolio Segment [Member] | Watch [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Gross loans | 4,601 | 704 |
Agriculture Portfolio Segment [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Gross loans | 313 | 446 |
Other Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Gross loans | 419 | 537 |
Other Portfolio Segment [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Gross loans | $ 419 | 415 |
Other Portfolio Segment [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Gross loans | $ 122 |
Note 5 - Premises and Equipme66
Note 5 - Premises and Equipment (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Property, Plant and Equipment [Abstract] | |||
Depreciation | $ 1,023,000 | $ 940,000 | $ 1,043,000 |
Note 5 - Premises and Equipme67
Note 5 - Premises and Equipment (Details) - Premises and Equipment - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Premises and Equipment [Abstract] | ||
Land and buildings | $ 24,651 | $ 24,711 |
Furniture and equipment | 10,719 | 10,314 |
35,370 | 35,025 | |
Accumulated depreciation | (16,558) | (15,518) |
$ 18,812 | $ 19,507 |
Note 6 - Other Real Estate Ow68
Note 6 - Other Real Estate Owned (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Note 6 - Other Real Estate Owned (Details) [Line Items] | |||
Foreclosed Real Estate Rental Income | $ 1,346,000 | $ 256,000 | $ 399,000 |
One- to Four-family Residential Properties [Member] | |||
Note 6 - Other Real Estate Owned (Details) [Line Items] | |||
Mortgage Loans in Process of Foreclosure, Amount | $ 934,000 | $ 3,600,000 |
Note 6 - Other Real Estate Ow69
Note 6 - Other Real Estate Owned (Details) - Major Categories of OREO - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Real Estate Properties [Line Items] | ||||
Valuation allowance | $ (630) | $ (1,066) | $ (230) | $ (1,154) |
19,214 | 46,197 | $ 30,892 | $ 43,671 | |
Commercial Real Estate Portfolio Segment [Member] | Construction, Land Development, and Other Land Loans [Member] | ||||
Real Estate Properties [Line Items] | ||||
Other real estate owned, gross | 12,749 | 18,748 | ||
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | ||||
Real Estate Properties [Line Items] | ||||
Other real estate owned, gross | 669 | |||
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | ||||
Real Estate Properties [Line Items] | ||||
Other real estate owned, gross | 6,967 | 14,860 | ||
Residential Portfolio Segment [Member] | ||||
Real Estate Properties [Line Items] | ||||
Other real estate owned, gross | 19,844 | 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 | $ 128 | $ 7,998 |
Note 6 - Other Real Estate Ow70
Note 6 - Other Real Estate Owned (Details) - OREO Valuation Allowance Activity - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
OREO Valuation Allowance Activity [Abstract] | |||
Beginning balance | $ 1,066 | $ 230 | $ 1,154 |
Provision to allowance | 9,855 | 4,255 | 2,466 |
Write-downs | (10,291) | (3,419) | (3,390) |
Ending balance | $ 630 | $ 1,066 | $ 230 |
Note 6 - Other Real Estate Ow71
Note 6 - Other Real Estate Owned (Details) - Activity Relating to Other Real Estate Owned - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
OREO Activity | |||
OREO | $ 46,197 | $ 30,892 | $ 43,671 |
Real estate acquired | 5,513 | 32,338 | 20,606 |
Valuation adjustments for declining market values | (9,855) | (4,255) | (2,466) |
Net gain (loss) on sale | (74) | 306 | (132) |
Proceeds from sale of properties | (22,567) | (13,084) | (30,787) |
OREO | $ 19,214 | $ 46,197 | $ 30,892 |
Note 6 - Other Real Estate Ow72
Note 6 - Other Real Estate Owned (Details) - Expenses Related to Other Real Estate Owned - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Expenses Related to Other Real Estate Owned [Abstract] | |||||||||||
Net (gain) loss on sales | $ 74 | $ (306) | $ 132 | ||||||||
Provision to allowance | 9,855 | 4,255 | 2,466 | ||||||||
Operating expense | 2,373 | 1,890 | 1,918 | ||||||||
Total | $ 3,506 | $ 5,131 | $ 2,932 | $ 733 | $ 3,843 | $ 560 | $ 774 | $ 662 | $ 12,302 | $ 5,839 | $ 4,516 |
Note 7 - Intangible Assets (Det
Note 7 - Intangible Assets (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Disclosure Text Block [Abstract] | |||
Amortization of Intangible Assets | $ 335,000 | $ 397,000 | $ 428,000 |
Note 7 - Intangible Assets (D74
Note 7 - Intangible Assets (Details) - Acquired Intangible Assets - Core Deposits [Member] - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Amortized intangible assets: | ||
Core deposit intangibles | $ 4,183 | $ 4,183 |
Core deposit intangibles | $ 3,740 | $ 3,405 |
Note 7 - Intangible Assets (D75
Note 7 - Intangible Assets (Details) - Estimated Aggregate Amortization Expense $ in Thousands | Dec. 31, 2015USD ($) |
Estimated Aggregate Amortization Expense [Abstract] | |
2,016 | $ 334 |
2,017 | $ 109 |
2,018 | |
2,019 | |
2,020 |
Note 8 - Deposits (Details)
Note 8 - Deposits (Details) - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 |
Disclosure Text Block [Abstract] | ||
Time Deposits, $250,000 or More | $ 28.4 | $ 34.4 |
Note 8 - Deposits (Details) - D
Note 8 - Deposits (Details) - Deposit Balances by Category - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Deposit Balances by Category [Abstract] | ||
Non-interest bearing | $ 120,043 | $ 114,910 |
Interest checking | 97,515 | 91,086 |
Money market | 125,935 | 109,734 |
Savings | 34,677 | 36,430 |
Certificates of deposit | 499,827 | 574,681 |
Total | $ 877,997 | $ 926,841 |
Note 8 - Deposits (Details) - M
Note 8 - Deposits (Details) - Maturities of Time Deposits $ in Thousands | Dec. 31, 2015USD ($) |
Maturities of Time Deposits [Abstract] | |
2,016 | $ 306,987 |
2,017 | 112,344 |
2,018 | 10,835 |
2,019 | 31,108 |
2,020 | 38,553 |
Thereafter | 0 |
$ 499,827 |
Note 9 - Securities Sold Unde79
Note 9 - Securities Sold Under Agreements to Repurchase (Details) | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure Text Block [Abstract] | |
Repurchase Agreement Counterparty, Weighted Average Maturity of Agreements | 2 years |
Note 9 - Securities Sold Unde80
Note 9 - Securities Sold Under Agreements to Repurchase (Details) - Securities Sold Under Agreements to Repurchase - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Securities Sold under Agreements to Repurchase [Abstract] | |||
Balance at year-end | $ 1,341 | $ 2,470 | |
Average daily balance during the year | $ 587 | $ 2,255 | $ 3,113 |
Average interest rate during the year | 0.14% | 0.15% | 0.20% |
Maximum month-end balance during the year | $ 1,341 | $ 3,473 | $ 4,747 |
Weighted average interest rate at year-end | 0.14% | 0.17% | |
Fair value of securities sold under agreements to repurchase at year-end | $ 1,341 | $ 2,470 |
Note 10 - Advances from Feder81
Note 10 - Advances from Federal Home Loan Bank (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Note 10 - Advances from 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, Disclosures, Collateral Pledged | 128,800,000 | $ 131,500,000 |
Federal Home Loan Bank, Advances, General Debt Obligations, Amount of Available, Unused Funds | 26,400,000 | |
Aveailable Federal Funds Lines of Credit on a Secured Basis | $ 5,000,000 | |
Maximum [Member] | Federal Home Loan Bank Advances [Member] | ||
Note 10 - Advances from Federal Home Loan Bank (Details) [Line Items] | ||
Debt Instrument, Term | 1 year |
Note 10 - Advances from Feder82
Note 10 - Advances from Federal Home Loan Bank (Details) - Advances from the Federal Home Loan Bank - USD ($) $ in Thousands | Dec. 31, 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 2.65% for 2015 and 1.02% for 2014 | $ 3,081 | $ 15,752 |
Note 10 - Advances from Feder83
Note 10 - Advances from Federal Home Loan Bank (Details) - Advances from the Federal Home Loan Bank (Parentheticals) | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Advances from the Federal Home Loan Bank [Abstract] | ||
Advances from FHLB, lowest fixed rate | 0.00% | 0.00% |
Advances from FHLB, highest fixed rate | 5.25% | 5.25% |
Advances from FHLB, earliest maturity | 2,017 | 2,017 |
Advances from FHLB, latest maturity | 2,033 | 2,033 |
Advances from FHLB, average interest rate | 2.65% | 1.02% |
Note 10 - Advances from Feder84
Note 10 - Advances from Federal Home Loan Bank (Details) - Principal Payments on Advances from Federal Home Loan Bank - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Principal Payments on Advances from Federal Home Loan Bank [Abstract] | ||
2,016 | $ 670 | |
2,017 | 539 | |
2,018 | 265 | |
2,019 | 185 | |
2,020 | 486 | |
Thereafter | 936 | |
$ 3,081 | $ 15,752 |
Note 11 - Subordinated Capita85
Note 11 - Subordinated Capital Note (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Note 11 - Subordinated Capital Note (Details) [Line Items] | ||
Subordinated Debt | $ 4,050,000 | $ 4,950,000 |
Debt Instrument, Periodic Payment, Principal | 225,000 | |
Debt Instrument, Interest Rate, Effective Percentage | 8.00% | |
Subordinated Capital Notes [Member] | ||
Note 11 - Subordinated Capital Note (Details) [Line Items] | ||
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months | 900,000 | |
Long-term Debt, Maturities, Repayments of Principal in Year Two | 900,000 | |
Long-term Debt, Maturities, Repayments of Principal in Year Three | 900,000 | |
Long-term Debt, Maturities, Repayments of Principal in Year Four | 900,000 | |
Long-term Debt, Maturities, Repayments of Principal in Year Five | $ 450,000 | |
Debt Instrument, Interest Rate, Effective Percentage | 3.28% | 3.24% |
Subordinated Capital Notes [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||
Note 11 - Subordinated Capital Note (Details) [Line Items] | ||
Debt Instrument, Basis Spread on Variable Rate | 3.00% |
Note 12 - Junior Subordinated86
Note 12 - Junior Subordinated Debentures (Details) | Sep. 30, 2015USD ($)$ / sharesshares | Dec. 31, 2015USD ($)shares |
Note 12 - Junior Subordinated Debentures (Details) [Line Items] | ||
Number of Consecutive Quarterly Periods to Defer Interest Payments Without Default or Penalty | 20 | |
Dividends Payable | $ 2,500,000 | |
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 | |
Debt Conversion, Converted Instrument, Amount | $ 3,447,000 | |
Unrelated Third Party [Member] | ||
Note 12 - Junior Subordinated Debentures (Details) [Line Items] | ||
Debt Conversion, Original Debt, Amount | $ 1,400,000 | |
Common Stock [Member] | ||
Note 12 - Junior Subordinated Debentures (Details) [Line Items] | ||
Debt Conversion, Converted Instrument, Shares Issued (in Shares) | shares | 1,200,000 | 1,200,000 |
Debt Conversion, Converted Instrument, Amount | $ 1,680,000 | |
Common Stock [Member] | Unrelated Third Party [Member] | ||
Note 12 - Junior Subordinated Debentures (Details) [Line Items] | ||
Debt Conversion, Converted Instrument, Amount | $ 560,000 | |
Share Price (in Dollars per share) | $ / shares | $ 1.40 | |
Voting Common Stock [Member] | ||
Note 12 - Junior Subordinated Debentures (Details) [Line Items] | ||
Debt Conversion, Converted Instrument, Shares Issued (in Shares) | shares | 800,000 | |
Voting Common Stock [Member] | Unrelated Third Party [Member] | ||
Note 12 - Junior Subordinated Debentures (Details) [Line Items] | ||
Debt Conversion, Converted Instrument, Shares Issued (in Shares) | shares | 400,000 | |
Nonvoting Common Stock [Member] | ||
Note 12 - Junior Subordinated Debentures (Details) [Line Items] | ||
Debt Conversion, Converted Instrument, Shares Issued (in Shares) | shares | 400,000 | |
London Interbank Offered Rate (LIBOR) [Member] | ||
Note 12 - Junior Subordinated Debentures (Details) [Line Items] | ||
Effective Interest Rate of Index Subordinated Borrowing is Tied to | 0.61% | |
Subsidiaries [Member] | ||
Note 12 - Junior Subordinated Debentures (Details) [Line Items] | ||
Debt Conversion, Original Debt, Amount | $ 2,900,000 | |
Gains (Losses) on Extinguishment of Debt | $ 883,000 | |
Subsidiaries [Member] | Voting Common Stock [Member] | ||
Note 12 - Junior Subordinated Debentures (Details) [Line Items] | ||
Debt Conversion, Converted Instrument, Shares Issued (in Shares) | shares | 400,000 | |
Subsidiaries [Member] | Voting Common Stock [Member] | Unrelated Third Party [Member] | ||
Note 12 - Junior Subordinated Debentures (Details) [Line Items] | ||
Debt Conversion, Converted Instrument, Shares Issued (in Shares) | shares | 400,000 | |
Subsidiaries [Member] | Nonvoting Common Stock [Member] | ||
Note 12 - Junior Subordinated Debentures (Details) [Line Items] | ||
Debt Conversion, Converted Instrument, Shares Issued (in Shares) | shares | 400,000 |
Note 12 - Junior Subordinated87
Note 12 - Junior Subordinated Debentures (Details) - Junior Subordinated Debentures - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | ||
Subordinated Borrowing [Line Items] | |||
Junior Subordinated Debt Owed To Trust | $ 21,000,000 | $ 25,000,000 | |
London Interbank Offered Rate (LIBOR) [Member] | |||
Subordinated Borrowing [Line Items] | |||
Junior Subordinated Debt Owed To Trust | $ 21,000,000 | ||
Payable to Porter Statutory Trust II [Member] | |||
Subordinated Borrowing [Line Items] | |||
Issuance Date | Feb. 13, 2004 | ||
Interest Rate | 2.85% | ||
End of 20 Quarter Deferral Period | Sep. 19, 2016 | ||
Maturity Date | Feb. 13, 2034 | ||
Payable to Porter Statutory Trust II [Member] | London Interbank Offered Rate (LIBOR) [Member] | |||
Subordinated Borrowing [Line Items] | |||
Junior Subordinated Debt Owed To Trust | [1] | $ 5,000,000 | |
Payable to Porter Statutory Trust III [Member] | |||
Subordinated Borrowing [Line Items] | |||
Issuance Date | Apr. 15, 2004 | ||
Interest Rate | 2.79% | ||
End of 20 Quarter Deferral Period | Sep. 18, 2016 | ||
Maturity Date | Apr. 15, 2034 | ||
Payable to Porter Statutory Trust III [Member] | London Interbank Offered Rate (LIBOR) [Member] | |||
Subordinated Borrowing [Line Items] | |||
Junior Subordinated Debt Owed To Trust | [1] | $ 3,000,000 | |
Payable to Porter Statutory Trust IV [Member] | |||
Subordinated Borrowing [Line Items] | |||
Issuance Date | Dec. 14, 2006 | ||
Interest Rate | 1.67% | ||
End of 20 Quarter Deferral Period | Sep. 1, 2016 | ||
Maturity Date | Mar. 1, 2037 | ||
Payable to Porter Statutory Trust IV [Member] | London Interbank Offered Rate (LIBOR) [Member] | |||
Subordinated Borrowing [Line Items] | |||
Junior Subordinated Debt Owed To Trust | [1] | $ 10,000,000 | |
Payable to Ascencia Statutory Trust I [Member] | |||
Subordinated Borrowing [Line Items] | |||
Issuance Date | Feb. 13, 2004 | ||
Interest Rate | 2.85% | ||
End of 20 Quarter Deferral Period | Sep. 19, 2016 | ||
Maturity Date | Feb. 13, 2034 | ||
Payable to Ascencia Statutory Trust I [Member] | London Interbank Offered Rate (LIBOR) [Member] | |||
Subordinated Borrowing [Line Items] | |||
Junior Subordinated Debt Owed To Trust | [1] | $ 3,000,000 | |
[1] | As of December 31, 2015, the 3-month LIBOR was 0.61%. |
Note 13 - Other Benefit Plans (
Note 13 - Other Benefit Plans (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Note 13 - Other Benefit Plans (Details) [Line Items] | |||
Defined Contribution Plan, Cost Recognized | $ 160,000 | $ 187,000 | $ 195,000 |
Defined Benefit Plan Vesting Period | 10 years | ||
Defined Benefit Plan, Net Periodic Benefit Cost | 121,000 | 122,000 | $ 87,000 |
Other Postretirement Defined Benefit Plan, Liabilities | 1,335,000 | 1,341,000 | 1,348,000 |
Bank Owned Life Insurance | 9,441,000 | 9,167,000 | |
EarningOnBankOwnedLifeInsurance | $ 295,000 | $ 276,000 | $ 534,000 |
Matched Contribution Equal to 50% of First 4% [Member] | |||
Note 13 - Other Benefit Plans (Details) [Line Items] | |||
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent | 50.00% | ||
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 4.00% |
Note 14 - Income Taxes (Details
Note 14 - Income Taxes (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Jul. 10, 2015 | |
Income Tax Disclosure [Abstract] | |||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 35.00% | ||
Income tax expense (benefit) | $ 0 | $ (1,583,000) | |
Unrecognized Tax Benefits | 0 | 0 | |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | 0 | 0 | |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued | $ 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 14 - Income Taxes (Detai90
Note 14 - Income Taxes (Details) - Income Tax Expense Benefit - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Income Tax Expense Benefit [Abstract] | |||
Current | |||
Deferred | $ 5,258,000 | $ 2,151,000 | $ 9,489,000 |
Net operating loss | (5,975,000) | (6,651,000) | (10,430,000) |
Change in valuation allowance | 717,000 | 2,917,000 | $ 941,000 |
$ 0 | $ (1,583,000) |
Note 14 - Income Taxes (Detai91
Note 14 - Income Taxes (Details) - Schedule of Effective Income Tax Rate Reconciliation - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Schedule of Effective Income Tax Rate Reconciliation [Abstract] | |||
Federal statutory rate times financial statement income (loss) | $ (1,125,000) | $ (4,458,000) | $ (555,000) |
Effect of: | |||
Valuation allowance | 717,000 | 2,917,000 | 941,000 |
Tax-exempt income | (264,000) | (319,000) | (324,000) |
Nontaxable life insurance income | (103,000) | (97,000) | (180,000) |
Other, net | 775,000 | 374,000 | $ 118,000 |
Total | $ 0 | $ (1,583,000) |
Note 14 - Income Taxes (Detai92
Note 14 - Income Taxes (Details) - Deferred Tax Assets and Liabilities - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Deferred tax assets: | ||
Net operating loss carry-forward | $ 38,085 | $ 32,111 |
Allowance for loan losses | 4,214 | 6,777 |
Other real estate owned write-down | 7,619 | 10,000 |
Alternative minimum tax credit carry-forward | 692 | 692 |
Net assets from acquisitions | 671 | 668 |
Net unrealized loss on securities | 166 | |
New market tax credit carry-forward | 208 | 208 |
Nonaccrual loan interest | 549 | 958 |
Other | 1,875 | 1,761 |
54,079 | 53,175 | |
Deferred tax liabilities: | ||
FHLB stock dividends | 928 | 928 |
Fixed assets | 176 | 264 |
Net unrealized gain on securities | 579 | |
Other | 865 | 756 |
1,969 | 2,527 | |
Net deferred tax assets before valuation allowance | 52,110 | 50,648 |
Valuation allowance | (52,110) | (50,648) |
Net deferred tax asset | $ 0 | $ 0 |
Note 15 - Related Party Trans93
Note 15 - Related Party Transactions (Details) - USD ($) | Sep. 30, 2015 | Feb. 25, 2015 | Nov. 21, 2008 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2010 |
Note 15 - Related Party Transactions (Details) [Line Items] | ||||||
Loans and Leases Receivable, Related Parties (in Dollars) | $ 0 | $ 0 | ||||
Loans and Leases Receivable, Related Parties, Collections (in Dollars) | 0 | |||||
Loan Commitments, Related Party (in Dollars) | 102,000 | |||||
Related Party Deposit Liabilities (in Dollars) | 382,000 | $ 307,000 | ||||
Issuance of Warrants Shares | 330,561 | 1,163,045 | ||||
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 | |||||
Debt Conversion, Converted Instrument, Amount (in Dollars) | 3,447,000 | |||||
Series B Preferred Stock [Member] | ||||||
Note 15 - Related Party Transactions (Details) [Line Items] | ||||||
Conversion of Stock, Shares Converted | 40,536 | |||||
Non-voting Noncumulative Non-convertible Series E Perpetual Preferred stock [Member] | ||||||
Note 15 - Related Party Transactions (Details) [Line Items] | ||||||
Conversion of Stock, Shares Converted | 6,198 | |||||
Non-voting Noncumulative Non-convertible Series F Perpetual Preferred Stock [Member] | ||||||
Note 15 - Related Party Transactions (Details) [Line Items] | ||||||
Conversion of Stock, Shares Converted | 4,304 | |||||
Nonvoting Common Stock [Member] | ||||||
Note 15 - Related Party Transactions (Details) [Line Items] | ||||||
Conversion of Stock, Shares Converted | 6,458,000 | |||||
Debt Conversion, Converted Instrument, Shares Issued | 400,000 | |||||
Series D Preferred Stock [Member] | ||||||
Note 15 - Related Party Transactions (Details) [Line Items] | ||||||
Conversion of Stock, Shares Converted | 64,580 | |||||
Voting Common Stock [Member] | ||||||
Note 15 - Related Party Transactions (Details) [Line Items] | ||||||
Debt Conversion, Converted Instrument, Shares Issued | 800,000 | |||||
Director Mr. Hogan [Member] | Series A Preferred Stock [Member] | ||||||
Note 15 - Related Party Transactions (Details) [Line Items] | ||||||
Conversion of Stock, Shares Converted | 5,000 | |||||
Director Mr. Hogan [Member] | Series B Preferred Stock [Member] | ||||||
Note 15 - Related Party Transactions (Details) [Line Items] | ||||||
Conversion of Stock, Shares Converted | 17,143 | |||||
Conversion of Stock, Shares Issued | 17,143 | |||||
Director Mr. Hogan [Member] | Non-voting Noncumulative Non-convertible Series E Perpetual Preferred stock [Member] | ||||||
Note 15 - Related Party Transactions (Details) [Line Items] | ||||||
Conversion of Stock, Shares Issued | 885 | |||||
Director Mr. Hogan [Member] | Non-voting Noncumulative Non-convertible Series F Perpetual Preferred Stock [Member] | ||||||
Note 15 - Related Party Transactions (Details) [Line Items] | ||||||
Conversion of Stock, Shares Issued | 1,405 | |||||
Director Mr. Levy [Member] | Series A Preferred Stock [Member] | ||||||
Note 15 - Related Party Transactions (Details) [Line Items] | ||||||
Conversion of Stock, Shares Converted | 750 | |||||
Director Mr. Levy [Member] | Non-voting Noncumulative Non-convertible Series E Perpetual Preferred stock [Member] | ||||||
Note 15 - Related Party Transactions (Details) [Line Items] | ||||||
Conversion of Stock, Shares Issued | 133 | |||||
Director Mr. Levy [Member] | Non-voting Noncumulative Non-convertible Series F Perpetual Preferred Stock [Member] | ||||||
Note 15 - Related Party Transactions (Details) [Line Items] | ||||||
Conversion of Stock, Shares Issued | 211 | |||||
Patriot Funds [Member] | Series A Preferred Stock [Member] | ||||||
Note 15 - Related Party Transactions (Details) [Line Items] | ||||||
Conversion of Stock, Shares Converted | 19,688 | |||||
Patriot Funds [Member] | Series B Preferred Stock [Member] | ||||||
Note 15 - Related Party Transactions (Details) [Line Items] | ||||||
Conversion of Stock, Shares Issued | 6,250 | |||||
Patriot Funds [Member] | Non-voting Noncumulative Non-convertible Series E Perpetual Preferred stock [Member] | ||||||
Note 15 - Related Party Transactions (Details) [Line Items] | ||||||
Conversion of Stock, Shares Issued | 3,486 | |||||
Patriot Funds [Member] | Series C Preferred Stock [Member] | ||||||
Note 15 - Related Party Transactions (Details) [Line Items] | ||||||
Conversion of Stock, Shares Converted | 317,042 | |||||
Patriot Funds [Member] | Nonvoting Common Stock [Member] | ||||||
Note 15 - Related Party Transactions (Details) [Line Items] | ||||||
Conversion of Stock, Shares Issued | 6,458,000 | |||||
Issuance of Warrants Shares | 753,263 | |||||
Patriot Funds [Member] | Series D Preferred Stock [Member] | ||||||
Note 15 - Related Party Transactions (Details) [Line Items] | ||||||
Conversion of Stock, Shares Issued | 64,580 | |||||
Real Estate Management Fees [Member] | Hogan Development [Member] | ||||||
Note 15 - Related Party Transactions (Details) [Line Items] | ||||||
Related Party Transaction, Amounts of Transaction (in Dollars) | 175,000 | $ 221,000 | ||||
Real Estate Sales Commissions [Member] | Hogan Development [Member] | ||||||
Note 15 - Related Party Transactions (Details) [Line Items] | ||||||
Related Party Transaction, Amounts of Transaction (in Dollars) | $ 637,000 | $ 64,000 | ||||
Unrelated Third Party [Member] | ||||||
Note 15 - Related Party Transactions (Details) [Line Items] | ||||||
Debt Conversion, Original Debt, Amount (in Dollars) | $ 1,400,000 | |||||
Unrelated Third Party [Member] | Voting Common Stock [Member] | ||||||
Note 15 - Related Party Transactions (Details) [Line Items] | ||||||
Debt Conversion, Converted Instrument, Shares Issued | 400,000 | |||||
Common Stock [Member] | ||||||
Note 15 - Related Party Transactions (Details) [Line Items] | ||||||
Conversion of Stock, Shares Converted | 4,053,600 | |||||
Debt Conversion, Converted Instrument, Shares Issued | 1,200,000 | 1,200,000 | ||||
Debt Conversion, Converted Instrument, Amount (in Dollars) | $ 1,680,000 | |||||
Common Stock [Member] | Director Mr. Hogan [Member] | ||||||
Note 15 - Related Party Transactions (Details) [Line Items] | ||||||
Conversion of Stock, Shares Converted | 17,143 | |||||
Conversion of Stock, Shares Issued | 1,714,300 | |||||
Common Stock [Member] | Director Mr. Levy [Member] | ||||||
Note 15 - Related Party Transactions (Details) [Line Items] | ||||||
Conversion of Stock, Shares Issued | 257,143 | |||||
Common Stock [Member] | Patriot Funds [Member] | ||||||
Note 15 - Related Party Transactions (Details) [Line Items] | ||||||
Conversion of Stock, Shares Issued | 625,000 | |||||
Common Stock [Member] | Unrelated Third Party [Member] | ||||||
Note 15 - Related Party Transactions (Details) [Line Items] | ||||||
Debt Conversion, Converted Instrument, Amount (in Dollars) | $ 560,000 | |||||
Share Price (in Dollars per share) | $ 1.40 | |||||
Subsidiaries [Member] | ||||||
Note 15 - Related Party Transactions (Details) [Line Items] | ||||||
Debt Conversion, Original Debt, Amount (in Dollars) | $ 2,900,000 | |||||
Gains (Losses) on Extinguishment of Debt (in Dollars) | $ 883,000 | |||||
Subsidiaries [Member] | Nonvoting Common Stock [Member] | ||||||
Note 15 - Related Party Transactions (Details) [Line Items] | ||||||
Debt Conversion, Converted Instrument, Shares Issued | 400,000 | |||||
Subsidiaries [Member] | Voting Common Stock [Member] | ||||||
Note 15 - Related Party Transactions (Details) [Line Items] | ||||||
Debt Conversion, Converted Instrument, Shares Issued | 400,000 | |||||
Subsidiaries [Member] | Unrelated Third Party [Member] | Voting Common Stock [Member] | ||||||
Note 15 - Related Party Transactions (Details) [Line Items] | ||||||
Debt Conversion, Converted Instrument, Shares Issued | 400,000 |
Note 16 - Preferred Stock and94
Note 16 - Preferred Stock and Stock Purchase Warrants (Details) - USD ($) $ / shares in Units, $ in Millions | Feb. 25, 2015 | Nov. 21, 2008 | Nov. 30, 2013 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2010 |
Note 16 - Preferred Stock and Stock Purchase Warrants (Details) [Line Items] | ||||||
Issuance of Warrants Shares | 330,561 | 1,163,045 | ||||
Sale of Stock, Price Per Share (in Dollars per share) | $ 15.88 | $ 11.50 | ||||
Proceeds from Issuance of Preferred Stock, Preference Stock, and Warrants (in Dollars) | $ 35 | |||||
Warrants Issued Expiration Period | 10 years | |||||
Proceeds from Issuance of Private Placement (in Dollars) | $ 32 | |||||
Convertible Preferred Stock, Shares Issued upon Conversion | 1.05 | |||||
Class of Warrant or Right To Purchase Common Shares, Cancelled | 798,915 | |||||
Class Of Warrant Or Right To Purchase Common Shares, Cancelled, Value (in Dollars) | $ 45.7 | |||||
Stock Issued (in Dollars) | 9.6 | |||||
Stockholders' Equity, Period Increase (Decrease) (in Dollars) | 7.4 | |||||
Common Stock [Member] | ||||||
Note 16 - Preferred Stock and Stock Purchase Warrants (Details) [Line Items] | ||||||
Stock Issued During Period, Shares, New Issues | 2,465,569 | |||||
Stockholders' Equity, Period Increase (Decrease) (in Dollars) | $ 36.1 | |||||
Stock Issued During Period, Shares, Exchange of Preferred Stock For Common Stock | 1,821,428 | |||||
Stock Issued During Period, Shares, Conversion of Convertible Securities | 10,511,600 | |||||
Conversion of Stock, Shares Converted | 4,053,600 | |||||
Series A Preferred Stock [Member] | ||||||
Note 16 - Preferred Stock and Stock Purchase Warrants (Details) [Line Items] | ||||||
Stock Issued During Period, Shares, New Issues | 35,000 | |||||
Preferred Stock, Dividend Rate, Percentage | 9.00% | |||||
Preferred Stock, Redemption Price Per Share (in Dollars per share) | $ 1,000 | |||||
Series C Preferred Stock [Member] | ||||||
Note 16 - Preferred Stock and Stock Purchase Warrants (Details) [Line Items] | ||||||
Stock Issued During Period, Shares, New Issues | 317,042 | |||||
Series B Preferred Stock [Member] | ||||||
Note 16 - Preferred Stock and Stock Purchase Warrants (Details) [Line Items] | ||||||
Stock Issued During Period, Shares, Conversion of Convertible Securities | 40,536 | |||||
Conversion of Stock, Shares Converted | 40,536 | |||||
Series D Preferred Stock [Member] | ||||||
Note 16 - Preferred Stock and Stock Purchase Warrants (Details) [Line Items] | ||||||
Stock Issued During Period, Shares, Conversion of Convertible Securities | 64,580 | |||||
Conversion of Stock, Shares Converted | 64,580 | |||||
Nonvoting Common Stock [Member] | ||||||
Note 16 - Preferred Stock and Stock Purchase Warrants (Details) [Line Items] | ||||||
Conversion of Stock, Shares Converted | 6,458,000 | |||||
Non-voting Noncumulative Non-convertible Series E Perpetual Preferred stock [Member] | ||||||
Note 16 - Preferred Stock and Stock Purchase Warrants (Details) [Line Items] | ||||||
Preferred Stock, Dividend Rate, Percentage | 2.00% | |||||
Stock Issued During Period, Shares, Conversion of Convertible Securities | 6,198 | |||||
Conversion of Stock, Shares Converted | 6,198 | |||||
Preferred Stock, Liquidation Preference Per Share (in Dollars per share) | $ 1,000 | |||||
Non-voting Noncumulative Non-convertible Series F Perpetual Preferred Stock [Member] | ||||||
Note 16 - Preferred Stock and Stock Purchase Warrants (Details) [Line Items] | ||||||
Preferred Stock, Dividend Rate, Percentage | 2.00% | |||||
Stock Issued During Period, Shares, Conversion of Convertible Securities | 4,304 | |||||
Conversion of Stock, Shares Converted | 4,304 | |||||
Preferred Stock, Liquidation Preference Per Share (in Dollars per share) | $ 1,000 | |||||
First Five Years [Member] | Series A Preferred Stock [Member] | ||||||
Note 16 - Preferred Stock and Stock Purchase Warrants (Details) [Line Items] | ||||||
Preferred Stock, Dividend Rate, Percentage | 5.00% |
Note 17 - Capital Requirement95
Note 17 - Capital Requirements and Restrictions on Retained Earnings (Details) - USD ($) $ in Billions | Dec. 31, 2015 | Dec. 31, 2014 |
Note 17 - Capital Requirements and Restrictions on Retained Earnings (Details) [Line Items] | ||
Maximum Asset for Opt Out Requirement in Capital Calculation (in Dollars) | $ 250 | |
Tier One Leverage Capital Required for Capital Adequacy to Average Assets | 4.00% | 4.00% |
Capital Required for Capital Adequacy to Risk Weighted Assets | 8.00% | 8.00% |
Tier One Leverage Capital to Average Assets | 4.74% | 4.51% |
Capital to Risk Weighted Assets | 10.46% | 10.61% |
PBI Bank [Member] | ||
Note 17 - 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% |
Capital Required for Capital Adequacy to Risk Weighted Assets | 8.00% | 8.00% |
Tier One Leverage Capital to Average Assets | 6.08% | 5.78% |
Capital to Risk Weighted Assets | 10.58% | 10.57% |
Consent Order [Member] | PBI Bank [Member] | ||
Note 17 - Capital Requirements and Restrictions on Retained Earnings (Details) [Line Items] | ||
Tier One Leverage Capital Required for Capital Adequacy to Average Assets | 9.00% | |
Capital Required for Capital Adequacy to Risk Weighted Assets | 12.00% |
Note 17 - Capital Requirement96
Note 17 - 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 | Dec. 31, 2015 | Dec. 31, 2014 |
Total risk-based capital (to risk-weighted assets) | ||
Total risk-based capital to risk-weighted assets, actual amount | $ 68,530 | $ 73,595 |
Total risk-based capital (to risk-weighted ssets, actual ratio | 10.46% | 10.61% |
Total risk-based capital to risk-weighted assets, for capital adequacy purposes, amount | $ 52,436 | $ 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 | $ 33,368 | |
Total common equity Tier I risk-based capital to risk-weighted assets, actual ratio | 5.09% | |
Total common equity Tier I risk-based capital to risk-weighted assets, for capital adequacy purposes, amount | $ 29,495 | |
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 | $ 45,174 | $ 46,459 |
Tier I capital to risk-weighted assets, actual ratio | 6.89% | 6.70% |
Tier I capital to risk-weighted assets, for capital adequacy purposes, amount | $ 39,327 | $ 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 | $ 45,174 | $ 46,459 |
Tier I capital to average assets, actual ratio | 4.74% | 4.51% |
Tier I capital to average assets, for capital adequacy purposes, amount | $ 38,131 | $ 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 | $ 69,250 | $ 73,174 |
Total risk-based capital (to risk-weighted ssets, actual ratio | 10.58% | 10.57% |
Total risk-based capital to risk-weighted assets, for capital adequacy purposes, amount | $ 52,347 | $ 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 | $ 57,873 | |
Total common equity Tier I risk-based capital to risk-weighted assets, actual ratio | 8.84% | |
Total common equity Tier I risk-based capital to risk-weighted assets, for capital adequacy purposes, amount | $ 29,445 | |
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 | $ 57,873 | $ 59,438 |
Tier I capital to risk-weighted assets, actual ratio | 8.84% | 8.59% |
Tier I capital to risk-weighted assets, for capital adequacy purposes, amount | $ 39,260 | $ 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 | $ 57,873 | $ 59,438 |
Tier I capital to average assets, actual ratio | 6.08% | 5.78% |
Tier I capital to average assets, for capital adequacy purposes, amount | $ 38,085 | $ 41,143 |
Tier I capital to average assets, for capital adequacy purposes, ratio | 4.00% | 4.00% |
Note 17 - Capital Requirement97
Note 17 - Capital Requirements and Restrictions on Retained Earnings (Details) - Minimum Capital Ratios - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Note 17 - Capital Requirements and Restrictions on Retained Earnings (Details) - Minimum Capital Ratios [Line Items] | ||
Total capital to risk-weighted assets | $ 68,530 | $ 73,595 |
Total capital to risk-weighted assets | 10.46% | 10.61% |
Total capital to risk-weighted assets | $ 52,436 | $ 55,483 |
Total capital to risk-weighted assets | 8.00% | 8.00% |
Tier I capital to average assets | $ 45,174 | $ 46,459 |
Tier I capital to average assets | 4.74% | 4.51% |
Tier I capital to average assets | $ 38,131 | $ 41,193 |
Tier I capital to average assets | 4.00% | 4.00% |
PBI Bank [Member] | ||
Note 17 - Capital Requirements and Restrictions on Retained Earnings (Details) - Minimum Capital Ratios [Line Items] | ||
Total capital to risk-weighted assets | $ 69,250 | $ 73,174 |
Total capital to risk-weighted assets | 10.58% | 10.57% |
Total capital to risk-weighted assets | $ 52,347 | $ 55,383 |
Total capital to risk-weighted assets | 8.00% | 8.00% |
Tier I capital to average assets | $ 57,873 | $ 59,438 |
Tier I capital to average assets | 6.08% | 5.78% |
Tier I capital to average assets | $ 38,085 | $ 41,143 |
Tier I capital to average assets | 4.00% | 4.00% |
Consent Order [Member] | PBI Bank [Member] | ||
Note 17 - Capital Requirements and Restrictions on Retained Earnings (Details) - Minimum Capital Ratios [Line Items] | ||
Total capital to risk-weighted assets | $ 78,521 | |
Total capital to risk-weighted assets | 12.00% | |
Tier I capital to average assets | $ 85,690 | |
Tier I capital to average assets | 9.00% |
Note 18 - Loan Commitments an98
Note 18 - Loan Commitments and Other Related Activities (Details) | 12 Months Ended |
Dec. 31, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments Period | 1 year |
Note 18 - Loan Commitments an99
Note 18 - Loan Commitments and Other Related Activities (Details) - Contractual Amounts of Financial Instruments With Off Balance Sheet Risk - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Fixed Rate [Member] | Commitments to make loans [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Financial Instrument off Balance Sheet Risk, Amount | $ 2,475 | $ 11,790 |
Fixed Rate [Member] | Unused lines of Credit [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Financial Instrument off Balance Sheet Risk, Amount | 12,212 | 13,075 |
Fixed Rate [Member] | Standby Letters of Credit [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Financial Instrument off Balance Sheet Risk, Amount | 950 | 966 |
Variable Rate [Member] | Commitments to make loans [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Financial Instrument off Balance Sheet Risk, Amount | 9,763 | 7,843 |
Variable Rate [Member] | Unused lines of Credit [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Financial Instrument off Balance Sheet Risk, Amount | 48,648 | 35,562 |
Variable Rate [Member] | Standby Letters of Credit [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Financial Instrument off Balance Sheet Risk, Amount | $ 1,220 | $ 1,354 |
Note 19 - Fair Values (Details)
Note 19 - Fair Values (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Note 19 - Fair Values (Details) [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 6.50% | ||
Debt Instrument, Interest Rate, Effective Percentage | 8.00% | ||
Impaired Financing Receivable, with Related Allowance, Recorded Investment (in Dollars) | $ 6,350,000 | $ 22,997,000 | $ 30,676,000 |
Impaired Financing Receivable, Related Allowance (in Dollars) | 428,000 | 752,000 | 3,471,000 |
Impaired Financing Receivable Provision for Loan Losses (in Dollars) | 0 | 5,200,000 | |
Other Repossessed Assets (in Dollars) | 19,200,000 | 46,200,000 | |
Real Estate Owned, Valuation Allowance, Provision (in Dollars) | 9,855,000 | 4,255,000 | $ 2,466,000 |
Impaired Loans [Member] | |||
Note 19 - Fair Values (Details) [Line Items] | |||
Impaired Financing Receivable, Related Allowance (in Dollars) | 337,000 | 622,000 | |
Measured for Impairment Using Fair Value of Collateral [Member] | |||
Note 19 - Fair Values (Details) [Line Items] | |||
Impaired Financing Receivable, with Related Allowance, Recorded Investment (in Dollars) | $ 1,800,000 | $ 18,400,000 | |
Routine Real Estate Collateral [Member] | Impaired Loans [Member] | |||
Note 19 - Fair Values (Details) [Line Items] | |||
Fair Value Inputs, Discount Rate | 10.00% | ||
Thin Trading Market or Specialized Collateral [Member] | Impaired Loans [Member] | |||
Note 19 - Fair Values (Details) [Line Items] | |||
Fair Value Inputs, Discount Rate | 25.00% | ||
Other Real Estate Owned [Member] | Routine Real Estate Collateral [Member] | |||
Note 19 - Fair Values (Details) [Line Items] | |||
Fair Value Inputs, Discount Rate | 10.00% | ||
Other Real Estate Owned [Member] | Thin Trading Market or Specialized Collateral [Member] | |||
Note 19 - Fair Values (Details) [Line Items] | |||
Fair Value Inputs, Discount Rate | 25.00% | ||
Minimum [Member] | Impaired Loans [Member] | |||
Note 19 - Fair Values (Details) [Line Items] | |||
Fair Value Inputs Estimated Discount Rate for Cost to Sell | 6.00% | ||
Minimum [Member] | Impaired Loans [Member] | |||
Note 19 - Fair Values (Details) [Line Items] | |||
Fair Value Inputs, Discount Rate | 10.00% | ||
Minimum [Member] | Other Real Estate Owned [Member] | |||
Note 19 - Fair Values (Details) [Line Items] | |||
Fair Value Inputs Estimated Discount Rate for Cost to Sell | 6.00% | ||
Maximum [Member] | Impaired Loans [Member] | |||
Note 19 - Fair Values (Details) [Line Items] | |||
Fair Value Inputs Estimated Discount Rate for Cost to Sell | 10.00% | ||
Maximum [Member] | Impaired Loans [Member] | |||
Note 19 - Fair Values (Details) [Line Items] | |||
Fair Value Inputs, Discount Rate | 33.00% | ||
Maximum [Member] | Other Real Estate Owned [Member] | |||
Note 19 - Fair Values (Details) [Line Items] | |||
Fair Value Inputs Estimated Discount Rate for Cost to Sell | 10.00% |
Note 19 - Fair Values (Detai101
Note 19 - Fair Values (Details) - Financial Assets Measured at Fair Value on Recurring and Non Recurring Basis - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Available for sale securities | |||
Available-for-sale securities | $ 144,978 | $ 190,791 | |
Impaired loans: | |||
Impaired loans | 31,776 | 71,993 | $ 149,883 |
Fair Value, Measurements, Recurring [Member] | |||
Available for sale securities | |||
Available-for-sale securities | 144,978 | 190,791 | |
Commercial Portfolio Segment [Member] | Impaired Loans [Member] | Fair Value, Measurements, Nonrecurring [Member] | |||
Impaired loans: | |||
Impaired loans | 12 | ||
Commercial Real Estate Portfolio Segment [Member] | Impaired Loans [Member] | Fair Value, Measurements, Nonrecurring [Member] | Farmland Loans [Member] | |||
Impaired loans: | |||
Impaired loans | 278 | ||
Commercial Real Estate Portfolio Segment [Member] | Impaired Loans [Member] | Fair Value, Measurements, Nonrecurring [Member] | Nonfarm Nonresidential [Member] | |||
Impaired loans: | |||
Impaired loans | 139 | 15,825 | |
Commercial Real Estate Portfolio Segment [Member] | Other Real Estate Owned [Member] | Fair Value, Measurements, Nonrecurring [Member] | Construction Loans [Member] | |||
Commercial real estate: | |||
Other real-estate | 12,344 | 18,325 | |
Commercial Real Estate Portfolio Segment [Member] | Other Real Estate Owned [Member] | Fair Value, Measurements, Nonrecurring [Member] | Farmland Loans [Member] | |||
Commercial real estate: | |||
Other real-estate | 654 | ||
Commercial Real Estate Portfolio Segment [Member] | Other Real Estate Owned [Member] | Fair Value, Measurements, Nonrecurring [Member] | Nonfarm Nonresidential [Member] | |||
Commercial real estate: | |||
Other real-estate | 6,746 | 14,525 | |
Residential Portfolio Segment [Member] | Impaired Loans [Member] | Fair Value, Measurements, Nonrecurring [Member] | One- to Four-family Residential Properties [Member] | |||
Impaired loans: | |||
Impaired loans | 1,362 | 1,635 | |
Residential Portfolio Segment [Member] | Other Real Estate Owned [Member] | Fair Value, Measurements, Nonrecurring [Member] | Multifamily Loans [Member] | |||
Commercial real estate: | |||
Other real-estate | 4,875 | ||
Residential Portfolio Segment [Member] | Other Real Estate Owned [Member] | Fair Value, Measurements, Nonrecurring [Member] | One- to Four-family Residential Properties [Member] | |||
Commercial real estate: | |||
Other real-estate | 124 | 7,818 | |
Consumer Portfolio Segment [Member] | Impaired Loans [Member] | Fair Value, Measurements, Nonrecurring [Member] | |||
Impaired loans: | |||
Impaired loans | 31 | ||
US Treasury and Government [Member] | |||
Available for sale securities | |||
Available-for-sale securities | 33,262 | 35,443 | |
US Treasury and Government [Member] | Fair Value, Measurements, Recurring [Member] | |||
Available for sale securities | |||
Available-for-sale securities | 33,262 | 35,443 | |
Residential Mortgage Backed Securities [Member] | |||
Available for sale securities | |||
Available-for-sale securities | 102,662 | 123,598 | |
Residential Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | |||
Available for sale securities | |||
Available-for-sale securities | 102,662 | 123,598 | |
US States and Political Subdivisions Debt Securities [Member] | |||
Available for sale securities | |||
Available-for-sale securities | 6,861 | 12,404 | |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | |||
Available for sale securities | |||
Available-for-sale securities | 6,861 | 12,404 | |
Corporate Debt Securities [Member] | |||
Available for sale securities | |||
Available-for-sale securities | 2,193 | 18,688 | |
Corporate Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | |||
Available for sale securities | |||
Available-for-sale securities | 2,193 | 18,688 | |
Other Debt Obligations [Member] | |||
Available for sale securities | |||
Available-for-sale securities | 658 | ||
Other Debt Obligations [Member] | Fair Value, Measurements, Recurring [Member] | |||
Available for sale securities | |||
Available-for-sale securities | 658 | ||
Fair Value, Inputs, Level 2 [Member] | |||
Available for sale securities | |||
Available-for-sale securities | 144,978 | 190,133 | |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | |||
Available for sale securities | |||
Available-for-sale securities | 144,978 | 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 | 33,262 | 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 | 102,662 | 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 | 6,861 | 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 | 2,193 | 18,688 | |
Fair Value, Inputs, Level 3 [Member] | |||
Available for sale securities | |||
Available-for-sale securities | 658 | ||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | |||
Available for sale securities | |||
Available-for-sale securities | 658 | ||
Fair Value, Inputs, Level 3 [Member] | Commercial Portfolio Segment [Member] | Impaired Loans [Member] | Fair Value, Measurements, Nonrecurring [Member] | |||
Impaired loans: | |||
Impaired loans | 12 | ||
Fair Value, Inputs, Level 3 [Member] | Commercial Real Estate Portfolio Segment [Member] | Impaired Loans [Member] | Fair Value, Measurements, Nonrecurring [Member] | Farmland Loans [Member] | |||
Impaired loans: | |||
Impaired loans | 278 | ||
Fair Value, Inputs, Level 3 [Member] | Commercial Real Estate Portfolio Segment [Member] | Impaired Loans [Member] | Fair Value, Measurements, Nonrecurring [Member] | Nonfarm Nonresidential [Member] | |||
Impaired loans: | |||
Impaired loans | 139 | 15,825 | |
Fair Value, Inputs, Level 3 [Member] | Commercial Real Estate Portfolio Segment [Member] | Other Real Estate Owned [Member] | Fair Value, Measurements, Nonrecurring [Member] | Construction Loans [Member] | |||
Commercial real estate: | |||
Other real-estate | 12,344 | 18,325 | |
Fair Value, Inputs, Level 3 [Member] | Commercial Real Estate Portfolio Segment [Member] | Other Real Estate Owned [Member] | Fair Value, Measurements, Nonrecurring [Member] | Farmland Loans [Member] | |||
Commercial real estate: | |||
Other real-estate | 654 | ||
Fair Value, Inputs, Level 3 [Member] | Commercial Real Estate Portfolio Segment [Member] | Other Real Estate Owned [Member] | Fair Value, Measurements, Nonrecurring [Member] | Nonfarm Nonresidential [Member] | |||
Commercial real estate: | |||
Other real-estate | 6,746 | 14,525 | |
Fair Value, Inputs, Level 3 [Member] | Residential Portfolio Segment [Member] | Impaired Loans [Member] | Fair Value, Measurements, Nonrecurring [Member] | One- to Four-family Residential Properties [Member] | |||
Impaired loans: | |||
Impaired loans | 1,362 | 1,635 | |
Fair Value, Inputs, Level 3 [Member] | Residential Portfolio Segment [Member] | Other Real Estate Owned [Member] | Fair Value, Measurements, Nonrecurring [Member] | Multifamily Loans [Member] | |||
Commercial real estate: | |||
Other real-estate | 4,875 | ||
Fair Value, Inputs, Level 3 [Member] | Residential Portfolio Segment [Member] | Other Real Estate Owned [Member] | Fair Value, Measurements, Nonrecurring [Member] | One- to Four-family Residential Properties [Member] | |||
Commercial real estate: | |||
Other real-estate | $ 124 | 7,818 | |
Fair Value, Inputs, Level 3 [Member] | Consumer Portfolio Segment [Member] | Impaired Loans [Member] | Fair Value, Measurements, Nonrecurring [Member] | |||
Impaired loans: | |||
Impaired loans | 31 | ||
Fair Value, Inputs, Level 3 [Member] | Other Debt Obligations [Member] | Fair Value, Measurements, Recurring [Member] | |||
Available for sale securities | |||
Available-for-sale securities | $ 658 |
Note 19 - Fair Values (Detai102
Note 19 - Fair Values (Details) - Reconcilation of All Assets Measured at Fair Value On Recurring Basis Using Significant Unobservable Inputs Level 3 - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 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) | 26 | |
Sales | $ (658) | |
Balances of recurring Level 3 assets | $ 658 |
Note 19 - Fair Values (Detai103
Note 19 - Fair Values (Details) - Qualitative Information about Level Three Fair Value Measurements for Financial Instruments Measured at Fair Value on Non-recurring Basis - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Residential Portfolio Segment [Member] | Cost Approach Valuation Technique [Member] | Impaired Loans [Member] | ||
Note 19 - Fair Values (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) | $ 1,362 | $ 1,635 |
Unobservable input(s) | Adjustment for differences between the comparable sales | Adjustment for differences between the comparable sales |
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 19 - Fair Values (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) | $ 12,693 | |
Unobservable input(s) | Adjustment for differences between the comparable sales | |
Unobservable input(s) | Adjustment for differences between the comparable sales | |
Commercial Real Estate Portfolio Segment [Member] | Cost Approach Valuation Technique [Member] | Impaired Loans [Member] | ||
Note 19 - Fair Values (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) | $ 16,103 | |
Unobservable input(s) | Adjustment for differences between the comparable sales | |
Unobservable input(s) | Adjustment for differences between the comparable sales | |
Commercial Real Estate Portfolio Segment [Member] | Cost Approach Valuation Technique [Member] | Other Real Estate Owned [Member] | ||
Note 19 - Fair Values (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) | $ 19,090 | $ 33,504 |
Unobservable input(s) | Adjustment for differences between the comparable sales | Adjustment for differences between the comparable sales |
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 19 - Fair Values (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 | |
Unobservable input(s) | Discount or capitalization rate | |
Commercial Real Estate Portfolio Segment [Member] | Income Approach Valuation Technique [Member] | Other Real Estate Owned [Member] | ||
Note 19 - Fair Values (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 |
Minimum [Member] | Residential Portfolio Segment [Member] | Cost Approach Valuation Technique [Member] | Impaired Loans [Member] | ||
Note 19 - Fair Values (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 19 - Fair Values (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% | |
Weighted average | (0.00%) | |
Minimum [Member] | Commercial Real Estate Portfolio Segment [Member] | Cost Approach Valuation Technique [Member] | Impaired Loans [Member] | ||
Note 19 - Fair Values (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% | |
Weighted average | (0.00%) | |
Minimum [Member] | Commercial Real Estate Portfolio Segment [Member] | Cost Approach Valuation Technique [Member] | Other Real Estate Owned [Member] | ||
Note 19 - Fair Values (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 19 - Fair Values (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% | |
Weighted average | (8.00%) | |
Minimum [Member] | Commercial Real Estate Portfolio Segment [Member] | Income Approach Valuation Technique [Member] | Other Real Estate Owned [Member] | ||
Note 19 - Fair Values (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] | Residential Portfolio Segment [Member] | Cost Approach Valuation Technique [Member] | Impaired Loans [Member] | ||
Note 19 - Fair Values (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 19 - Fair Values (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% | |
Weighted average | (15.00%) | |
Maximum [Member] | Commercial Real Estate Portfolio Segment [Member] | Cost Approach Valuation Technique [Member] | Impaired Loans [Member] | ||
Note 19 - Fair Values (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 | 62.00% | |
Weighted average | (62.00%) | |
Maximum [Member] | Commercial Real Estate Portfolio Segment [Member] | Cost Approach Valuation Technique [Member] | Other Real Estate Owned [Member] | ||
Note 19 - Fair Values (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 | 30.00% | 45.00% |
Weighted average | (30.00%) | (45.00%) |
Maximum [Member] | Commercial Real Estate Portfolio Segment [Member] | Income Approach Valuation Technique [Member] | Impaired Loans [Member] | ||
Note 19 - Fair Values (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% | |
Weighted average | (9.00%) | |
Maximum [Member] | Commercial Real Estate Portfolio Segment [Member] | Income Approach Valuation Technique [Member] | Other Real Estate Owned [Member] | ||
Note 19 - Fair Values (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%) |
Weighted Average [Member] | Residential Portfolio Segment [Member] | Cost Approach Valuation Technique [Member] | Impaired Loans [Member] | ||
Note 19 - Fair Values (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 19 - Fair Values (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 | 6.00% | |
Weighted average | (6.00%) | |
Weighted Average [Member] | Commercial Real Estate Portfolio Segment [Member] | Cost Approach Valuation Technique [Member] | Impaired Loans [Member] | ||
Note 19 - Fair Values (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 | 14.00% | |
Weighted average | (14.00%) | |
Weighted Average [Member] | Commercial Real Estate Portfolio Segment [Member] | Cost Approach Valuation Technique [Member] | Other Real Estate Owned [Member] | ||
Note 19 - Fair Values (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 | 12.00% | 18.00% |
Weighted average | (12.00%) | (18.00%) |
Weighted Average [Member] | Commercial Real Estate Portfolio Segment [Member] | Income Approach Valuation Technique [Member] | Impaired Loans [Member] | ||
Note 19 - Fair Values (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% | |
Weighted average | (8.00%) | |
Weighted Average [Member] | Commercial Real Estate Portfolio Segment [Member] | Income Approach Valuation Technique [Member] | Other Real Estate Owned [Member] | ||
Note 19 - Fair Values (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 | 17.00% | 13.00% |
Weighted average | (17.00%) | (13.00%) |
Note 19 - Fair Values (Detai104
Note 19 - Fair Values (Details) - Carrying Amount and Estimated Fair Values of Financial Instruments - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Financial assets | ||||
Cash and cash equivalents | $ 93,335 | $ 80,180 | $ 111,134 | $ 49,572 |
Cash and cash equivalents | 93,335 | 80,180 | ||
Securities available for sale | 144,978 | 190,791 | ||
Securities held to maturity | 42,075 | 42,325 | ||
Securities held to maturity | 44,253 | 44,498 | ||
Federal Home Loan Bank stock | $ 7,323 | $ 7,323 | ||
Federal Home Loan Bank stock | ||||
Loans held for sale | $ 186 | $ 8,926 | ||
Loans held for sale | 186 | 8,926 | ||
Loans, net | 606,625 | 605,635 | ||
Loans, net | 614,162 | 615,914 | ||
Accrued interest receivable | 3,116 | 3,503 | ||
Accrued interest receivable | 3,116 | 3,503 | ||
Financial liabilities | ||||
Deposits | 877,997 | 926,841 | ||
Deposits | 859,195 | 919,418 | ||
Securities sold under agreements to repurchase | 1,341 | 2,470 | ||
Securities sold under agreements to repurchase | 1,341 | $ 2,470 | ||
Federal Home Loan Bank advances | 3,081 | 15,752 | ||
Federal Home Loan Bank advances | 3,076 | 15,758 | ||
Subordinated capital notes | 4,050 | 4,950 | ||
Subordinated capital notes | 3,933 | 4,765 | ||
Junior subordinated debentures | 21,000 | 25,000 | ||
Junior subordinated debentures | 12,810 | 14,214 | ||
Accrued interest payable | 2,805 | 2,858 | ||
Accrued interest payable | 2,805 | 2,858 | ||
Fair Value, Inputs, Level 1 [Member] | ||||
Financial assets | ||||
Cash and cash equivalents | $ 79,498 | $ 49,007 | ||
Federal Home Loan Bank stock | ||||
Financial liabilities | ||||
Deposits | $ 120,043 | $ 114,910 | ||
Fair Value, Inputs, Level 2 [Member] | ||||
Financial assets | ||||
Cash and cash equivalents | 13,837 | 31,173 | ||
Securities available for sale | 144,978 | 190,133 | ||
Securities held to maturity | $ 44,253 | $ 44,498 | ||
Federal Home Loan Bank stock | ||||
Loans held for sale | $ 186 | $ 8,926 | ||
Accrued interest receivable | 1,111 | 1,389 | ||
Financial liabilities | ||||
Deposits | 739,152 | 804,508 | ||
Securities sold under agreements to repurchase | 1,341 | |||
Federal Home Loan Bank advances | 3,076 | 15,758 | ||
Accrued interest payable | $ 422 | 751 | ||
Fair Value, Inputs, Level 3 [Member] | ||||
Financial assets | ||||
Securities available for sale | $ 658 | |||
Federal Home Loan Bank stock | ||||
Loans, net | $ 614,162 | $ 615,914 | ||
Accrued interest receivable | 2,005 | 2,114 | ||
Financial liabilities | ||||
Subordinated capital notes | 3,933 | 4,765 | ||
Junior subordinated debentures | 12,810 | 14,214 | ||
Accrued interest payable | $ 2,383 | $ 2,107 |
Note 20 - Stock Plans and St105
Note 20 - Stock Plans and Stock Based Compensation (Details) - USD ($) | Mar. 25, 2015 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Note 20 - Stock Plans and Stock Based Compensation (Details) [Line Items] | ||||
Restricted Stock, Shares Cancelled (in Shares) | 538,479 | |||
Share-based Compensation | $ 445,000 | $ 555,000 | $ 604,000 | |
Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Share-based Compensation Cost | 0 | $ 0 | ||
Employee [Member] | ||||
Note 20 - 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 (in Dollars per share) | $ 0.89 | |||
Director [Member] | ||||
Note 20 - 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 (in Dollars per share) | $ 1.08 | |||
Stock Incentive Plan 2006 [Member] | ||||
Note 20 - Stock Plans and Stock Based Compensation (Details) [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in Shares) | 1,563,050 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number (in Shares) | 922,419 | 770,440 | 787,426 | |
Share-based Compensation Arrangement by Share-based Payment Award, Shares Remaining Available for Issuance (in Shares) | 303,592 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in Dollars per share) | $ 0.89 | $ 0.93 | ||
Non-Employee Directors Stock Incentive Plan 2006 [Member] | ||||
Note 20 - Stock Plans and Stock Based Compensation (Details) [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in Shares) | 700,000 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number (in Shares) | 5,052 | 47,428 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Shares Remaining Available for Issuance (in Shares) | 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 (in Dollars per share) | $ 1.08 | $ 0.90 | ||
Restricted Stock [Member] | Non-Employee Directors Stock Incentive Plan 2006 [Member] | ||||
Note 20 - 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 20 - 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 (in Shares) | 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 20 - 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 20 - Stock Plans and Stock Based Compensation (Details) [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 10 years |
Note 20 - Stock Plans and St106
Note 20 - Stock Plans and Stock Based Compensation (Details) - Unvested Share Activity - Stock Incentive Plan 2006 [Member] - $ / shares | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Note 20 - Stock Plans and Stock Based Compensation (Details) - Unvested Share Activity [Line Items] | ||
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) | 0 |
Terminated | $ 1.25 | $ 0 |
Forfeited | (31,842) | (5,979) |
Forfeited | $ 1.13 | $ 4.21 |
Outstanding, ending | 922,419 | 770,440 |
Outstanding, ending | $ 0.96 | $ 1.33 |
Note 20 - Stock Plans and St107
Note 20 - Stock Plans and Stock Based Compensation (Details) - Unvested Share Activity for Non-Employee Directors - Non-Employee Directors Stock Incentive Plan 2006 [Member] - $ / shares | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Note 20 - Stock Plans and Stock Based Compensation (Details) - Unvested Share Activity for Non-Employee Directors [Line Items] | ||
Outstanding, beginning | 5,052 | 47,428 |
Outstanding, beginning | $ 1.65 | $ 1.69 |
Granted | 115,740 | 166,668 |
Granted | $ 1.08 | $ 0.90 |
Vested | (120,792) | (154,222) |
Vested | $ 1.10 | $ 0.98 |
Forfeited | (54,822) | |
Forfeited | $ 1.29 | |
Outstanding, ending | 5,052 | |
Outstanding, ending | $ 1.65 |
Note 20 - Stock Plans and St108
Note 20 - Stock Plans and Stock Based Compensation (Details) - Unrecognized Stock Based Compensation Expense Related to Unvested Shares $ in Thousands | Dec. 31, 2015USD ($) |
Unrecognized Stock Based Compensation Expense Related to Unvested Shares [Abstract] | |
2,016 | $ 252 |
2,017 | 156 |
2,018 | 149 |
2019 & thereafter | $ 0 |
Note 21 - Earnings (Loss) Pe109
Note 21 - Earnings (Loss) Per Share (Details) - $ / shares | 1 Months Ended | 12 Months Ended | ||
Sep. 30, 2015 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Note 21 - Earnings (Loss) Per Share (Details) [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 0 | 0 | 0 | |
Common Stock [Member] | ||||
Note 21 - 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 | $ 15.88 | |
Common Stock [Member] | Warrant [Member] | ||||
Note 21 - Earnings (Loss) Per Share (Details) [Line Items] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 330,561 | 330,561 | 330,561 | |
Warrant [Member] | ||||
Note 21 - Earnings (Loss) Per Share (Details) [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Expirations | 650,544 | |||
Nonvoting Common Stock [Member] | ||||
Note 21 - Earnings (Loss) Per Share (Details) [Line Items] | ||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in Dollars per share) | $ 10.95 | $ 10.95 | ||
Nonvoting Common Stock [Member] | Warrant [Member] | ||||
Note 21 - Earnings (Loss) Per Share (Details) [Line Items] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 650,544 | 1,449,459 |
Note 21 - Earnings (Loss) Pe110
Note 21 - Earnings (Loss) Per Share (Details) - Basic and Diluted Loss Per Share - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||||||
Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |||||||||
Note 21 - Earnings (Loss) Per Share (Details) - Basic and Diluted Loss Per Share [Line Items] | |||||||||||||||||||
Net loss (in Dollars) | $ (601) | $ (1,076) | [1] | $ (2,130) | [2] | $ 594 | $ (3,785) | [3] | $ (849) | $ (6,234) | [4] | $ (287) | $ (3,213) | $ (11,155) | $ (1,586) | ||||
Less: | |||||||||||||||||||
Preferred stock dividends (in Dollars) | 2,362 | 1,919 | |||||||||||||||||
Effect of preferred stock exchange (in Dollars) | (36,104) | ||||||||||||||||||
Earnings allocated (in Dollars) | (336) | 3,159 | (267) | ||||||||||||||||
Net income (loss) attributable to common shareholders, basic and diluted (in Dollars) | $ (2,877) | $ 19,428 | $ (3,398) | ||||||||||||||||
Basic | |||||||||||||||||||
Weighted average common shares including unvested common shares and participating preferred shares outstanding | 25,959,720 | 14,230,936 | 12,722,782 | ||||||||||||||||
Less: | |||||||||||||||||||
Weighted average shares outstanding | 23,245,009 | 12,240,889 | 11,794,738 | ||||||||||||||||
Basic income (loss) per common share (in Dollars per share) | $ (0.02) | $ (0.04) | $ (0.08) | $ 0.02 | [5] | $ 1.91 | $ (0.12) | [5] | $ (0.53) | $ (0.08) | [5] | $ (0.12) | $ 1.59 | $ (0.29) | |||||
Diluted | |||||||||||||||||||
Add: Dilutive effects of assumed exercises of common and Preferred Series C stock warrants | 0 | 0 | 0 | ||||||||||||||||
Weighted average common shares and potential common shares | 23,245,009 | 12,240,889 | 11,794,738 | ||||||||||||||||
Diluted income (loss) per common share (in Dollars per share) | $ (0.02) | [5] | $ (0.04) | [5] | $ (0.08) | [5] | $ 0.02 | [5] | $ 1.91 | [5] | $ (0.12) | [5] | $ (0.53) | [5] | $ (0.08) | [5] | $ (0.12) | $ 1.59 | $ (0.29) |
Preferred Stock Redemption [Member] | |||||||||||||||||||
Less: | |||||||||||||||||||
Accretion of Series A preferred stock discount (in Dollars) | $ 160 | ||||||||||||||||||
Series C Preferred Stock [Member] | |||||||||||||||||||
Less: | |||||||||||||||||||
Earnings allocated (in Dollars) | $ (214) | $ 1,724 | $ (96) | ||||||||||||||||
Less: | |||||||||||||||||||
Weighted average shares outstanding | 308,269 | 332,894 | |||||||||||||||||
Series B Preferred Stock [Member] | |||||||||||||||||||
Less: | |||||||||||||||||||
Weighted average shares outstanding | 666,345 | 299,855 | |||||||||||||||||
Series D Preferred Stock [Member] | |||||||||||||||||||
Less: | |||||||||||||||||||
Weighted average shares outstanding | 1,061,589 | 477,715 | |||||||||||||||||
Unvested Shares [Member] | |||||||||||||||||||
Less: | |||||||||||||||||||
Earnings allocated (in Dollars) | $ (122) | $ 1,435 | $ (171) | ||||||||||||||||
Less: | |||||||||||||||||||
Weighted average shares outstanding | 986,777 | 904,208 | 595,150 | ||||||||||||||||
[1] | The net loss for the third and fourth quarters of 2015 was positively impacted by a $2.2 million and $2.3 million negative provision for loans losses, respectively, and negatively impacted by OREO expenses of $5.1 million and $3.5 million, respectively. | ||||||||||||||||||
[2] | The $2.1 million loss for the second quarter of 2015 was primarily due to OREO expenses. | ||||||||||||||||||
[3] | The $3.8 million loss for the fourth quarter of 2014 was primarily due to OREO expenses of $3.8 million. | ||||||||||||||||||
[4] | The $6.2 million loss for the second quarter of 2014 was primarily due to provision for loan losses expense of $6.3 million. | ||||||||||||||||||
[5] | The sum of the quarterly net income (loss) per share (basic and diluted) differs from the annual net income (loss) per share (basic and diluted) because of the differences in the weighted average number of common shares outstanding and the common shares used in the quarterly and annual computations as well as differences in rounding. |
Note 22 - Parent Company Onl111
Note 22 - Parent Company Only Condensed Financial Information (Details) - Condensed Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
ASSETS | ||||
Cash and cash equivalents | $ 93,335 | $ 80,180 | $ 111,134 | $ 49,572 |
Securities available for sale | 144,978 | 190,791 | ||
Total assets | 948,722 | 1,017,989 | ||
LIABILITIES AND SHAREHOLDERS’ EQUITY | ||||
Accrued expenses and other liabilities | 10,577 | 10,640 | ||
Shareholders’ equity | 32,017 | 33,465 | 35,931 | 47,190 |
Total liabilities and shareholders’ equity | 948,722 | 1,017,989 | ||
Parent Company [Member] | ||||
ASSETS | ||||
Cash and cash equivalents | 986 | 1,275 | $ 1,815 | $ 995 |
Securities available for sale | 658 | |||
Other assets | 734 | 730 | ||
Total assets | 60,722 | 61,536 | ||
LIABILITIES AND SHAREHOLDERS’ EQUITY | ||||
Debt | 25,775 | 25,775 | ||
Accrued expenses and other liabilities | 2,930 | 2,296 | ||
Shareholders’ equity | 32,017 | 33,465 | ||
Total liabilities and shareholders’ equity | 60,722 | 61,536 | ||
Parent Company [Member] | Banking Subsidiary [Member] | ||||
ASSETS | ||||
Investment in subsidiary | 55,642 | 58,097 | ||
Parent Company [Member] | All Other Subsidiaries [Member] | ||||
ASSETS | ||||
Investment in subsidiary | $ 3,360 | $ 776 |
Note 22 - Parent Company Onl112
Note 22 - Parent Company Only Condensed Financial Information (Details) - Condensed Statements of Operations - USD ($) | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |||||
Condensed Income Statements, Captions [Line Items] | |||||||||||||||
Interest income | $ 9,025,000 | $ 9,179,000 | $ 9,167,000 | $ 9,203,000 | $ 9,636,000 | $ 9,814,000 | $ 10,166,000 | $ 9,897,000 | $ 36,574,000 | $ 39,513,000 | $ 43,228,000 | ||||
Other income | 715,000 | 702,000 | 970,000 | ||||||||||||
Interest expense | (7,023,000) | (9,795,000) | (11,143,000) | ||||||||||||
Other expense | (2,653,000) | (2,662,000) | (2,095,000) | ||||||||||||
Loss before income tax and undistributed subsidiary income | (3,213,000) | (12,738,000) | (1,586,000) | ||||||||||||
Income tax expense | 0 | (1,583,000) | |||||||||||||
Net loss | $ (601,000) | $ (1,076,000) | [1] | $ (2,130,000) | [2] | $ 594,000 | $ (3,785,000) | [3] | $ (849,000) | $ (6,234,000) | [4] | $ (287,000) | (3,213,000) | (11,155,000) | (1,586,000) |
Parent Company [Member] | |||||||||||||||
Condensed Income Statements, Captions [Line Items] | |||||||||||||||
Interest income | 46,000 | 53,000 | 82,000 | ||||||||||||
Dividends from subsidiaries | 20,000 | 19,000 | 20,000 | ||||||||||||
Other income | 102,000 | 44,000 | 966,000 | ||||||||||||
Interest expense | (647,000) | (631,000) | (642,000) | ||||||||||||
Other expense | (1,457,000) | (1,765,000) | (2,064,000) | ||||||||||||
Loss before income tax and undistributed subsidiary income | (1,936,000) | (2,280,000) | (1,638,000) | ||||||||||||
Income tax expense | 13,000 | ||||||||||||||
Equity in undistributed subsidiary income (loss) | (1,277,000) | (8,862,000) | 52,000 | ||||||||||||
Net loss | $ (3,213,000) | $ (11,155,000) | $ (1,586,000) | ||||||||||||
[1] | The net loss for the third and fourth quarters of 2015 was positively impacted by a $2.2 million and $2.3 million negative provision for loans losses, respectively, and negatively impacted by OREO expenses of $5.1 million and $3.5 million, respectively. | ||||||||||||||
[2] | The $2.1 million loss for the second quarter of 2015 was primarily due to OREO expenses. | ||||||||||||||
[3] | The $3.8 million loss for the fourth quarter of 2014 was primarily due to OREO expenses of $3.8 million. | ||||||||||||||
[4] | The $6.2 million loss for the second quarter of 2014 was primarily due to provision for loan losses expense of $6.3 million. |
Note 22 - Parent Company Onl113
Note 22 - Parent Company Only Condensed Financial Information (Details) - Condensed Statements of Cash Flows - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2015 | Sep. 30, 2015 | [1] | Jun. 30, 2015 | [2] | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | [4] | Mar. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | ||
Cash flows from operating activities | |||||||||||||||
Net loss | $ (601) | $ (1,076) | $ (2,130) | $ 594 | $ (3,785) | [3] | $ (849) | $ (6,234) | $ (287) | $ (3,213) | $ (11,155) | $ (1,586) | |||
Adjustments: | |||||||||||||||
Tax expense from OCI components | 1,583 | ||||||||||||||
Net cash (used in) operating activities | 4,060 | 1,425 | 9,525 | ||||||||||||
Cash flows from investing activities | |||||||||||||||
Sales of securities | 45,012 | 6,251 | 8,061 | ||||||||||||
Net cash (used in) from investing activities | 72,851 | 19,254 | 131,792 | ||||||||||||
Cash flows from financing activities | |||||||||||||||
Net cash (used in) financing activities | (63,756) | (51,633) | (79,755) | ||||||||||||
Net change in cash and cash equivalents | 13,155 | (30,954) | 61,562 | ||||||||||||
Beginning cash and cash equivalents | 80,180 | 111,134 | 80,180 | 111,134 | 49,572 | ||||||||||
Ending cash and cash equivalents | 93,335 | 80,180 | 93,335 | 80,180 | 111,134 | ||||||||||
Parent Company [Member] | |||||||||||||||
Cash flows from operating activities | |||||||||||||||
Net loss | (3,213) | (11,155) | (1,586) | ||||||||||||
Adjustments: | |||||||||||||||
Equity in undistributed subsidiary (income) loss | 1,277 | 8,862 | (52) | ||||||||||||
Gain on sale of assets | (70) | (44) | (727) | ||||||||||||
Tax expense from OCI components | 13 | ||||||||||||||
Change in other assets | (40) | (26) | (240) | ||||||||||||
Change in other liabilities | 634 | 1,040 | 833 | ||||||||||||
Other | 481 | 591 | 640 | ||||||||||||
Net cash (used in) operating activities | (931) | (719) | (1,132) | ||||||||||||
Cash flows from investing activities | |||||||||||||||
Sales of securities | 642 | 179 | 1,952 | ||||||||||||
Net cash (used in) from investing activities | $ 642 | $ 179 | $ 1,952 | ||||||||||||
Cash flows from financing activities | |||||||||||||||
Dividends paid on preferred stock | |||||||||||||||
Dividends paid on common stock | |||||||||||||||
Net cash (used in) financing activities | |||||||||||||||
Net change in cash and cash equivalents | $ (289) | $ (540) | $ 820 | ||||||||||||
Beginning cash and cash equivalents | $ 1,275 | $ 1,815 | 1,275 | 1,815 | 995 | ||||||||||
Ending cash and cash equivalents | $ 986 | $ 1,275 | $ 986 | $ 1,275 | $ 1,815 | ||||||||||
[1] | The net loss for the third and fourth quarters of 2015 was positively impacted by a $2.2 million and $2.3 million negative provision for loans losses, respectively, and negatively impacted by OREO expenses of $5.1 million and $3.5 million, respectively. | ||||||||||||||
[2] | The $2.1 million loss for the second quarter of 2015 was primarily due to OREO expenses. | ||||||||||||||
[3] | The $3.8 million loss for the fourth quarter of 2014 was primarily due to OREO expenses of $3.8 million. | ||||||||||||||
[4] | The $6.2 million loss for the second quarter of 2014 was primarily due to provision for loan losses expense of $6.3 million. |
Note 23 - Quarterly Financia114
Note 23 - Quarterly Financial Data (Unaudited) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |||||
Quarterly Financial Information Disclosure [Abstract] | |||||||||||||||
Net Income (Loss) Attributable to Parent | $ (601) | $ (1,076) | [1] | $ (2,130) | [2] | $ 594 | $ (3,785) | [3] | $ (849) | $ (6,234) | [4] | $ (287) | $ (3,213) | $ (11,155) | $ (1,586) |
Provision for loan losses | (2,300) | (2,200) | 800 | 6,300 | (4,500) | 7,100 | 700 | ||||||||
Foreclosed Real Estate Expense | $ 3,506 | $ 5,131 | $ 2,932 | $ 733 | $ 3,843 | $ 560 | $ 774 | $ 662 | $ 12,302 | $ 5,839 | $ 4,516 | ||||
[1] | The net loss for the third and fourth quarters of 2015 was positively impacted by a $2.2 million and $2.3 million negative provision for loans losses, respectively, and negatively impacted by OREO expenses of $5.1 million and $3.5 million, respectively. | ||||||||||||||
[2] | The $2.1 million loss for the second quarter of 2015 was primarily due to OREO expenses. | ||||||||||||||
[3] | The $3.8 million loss for the fourth quarter of 2014 was primarily due to OREO expenses of $3.8 million. | ||||||||||||||
[4] | The $6.2 million loss for the second quarter of 2014 was primarily due to provision for loan losses expense of $6.3 million. |
Note 23 - Quarterly Financia115
Note 23 - Quarterly Financial Data (Unaudited) (Details) - Schedule of Quarterly Financial Information - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||||||
Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |||||||||
2,015 | |||||||||||||||||||
Interest Income | $ 9,025 | $ 9,179 | $ 9,167 | $ 9,203 | $ 9,636 | $ 9,814 | $ 10,166 | $ 9,897 | $ 36,574 | $ 39,513 | $ 43,228 | ||||||||
Net Interest Income | 7,440 | 7,482 | 7,339 | 7,290 | 7,467 | 7,337 | 7,614 | 7,300 | 29,551 | 29,718 | 32,085 | ||||||||
Provision For Loan Losses | (2,300) | (2,200) | 800 | 6,300 | (4,500) | 7,100 | 700 | ||||||||||||
OREO Expense | 3,506 | 5,131 | 2,932 | 733 | 3,843 | 560 | 774 | 662 | 12,302 | 5,839 | 4,516 | ||||||||
Net Income (Loss) | $ (601) | $ (1,076) | [1] | $ (2,130) | [2] | $ 594 | $ (3,785) | [3] | $ (849) | $ (6,234) | [4] | $ (287) | $ (3,213) | $ (11,155) | $ (1,586) | ||||
Earnings (Loss) Per Common Share, Basic (in Dollars per share) | $ (0.02) | $ (0.04) | $ (0.08) | $ 0.02 | [5] | $ 1.91 | $ (0.12) | [5] | $ (0.53) | $ (0.08) | [5] | $ (0.12) | $ 1.59 | $ (0.29) | |||||
Earnings (Loss) Per Common Share, Diluted (in Dollars per share) | $ (0.02) | [5] | $ (0.04) | [5] | $ (0.08) | [5] | $ 0.02 | [5] | $ 1.91 | [5] | $ (0.12) | [5] | $ (0.53) | [5] | $ (0.08) | [5] | $ (0.12) | $ 1.59 | $ (0.29) |
[1] | The net loss for the third and fourth quarters of 2015 was positively impacted by a $2.2 million and $2.3 million negative provision for loans losses, respectively, and negatively impacted by OREO expenses of $5.1 million and $3.5 million, respectively. | ||||||||||||||||||
[2] | The $2.1 million loss for the second quarter of 2015 was primarily due to OREO expenses. | ||||||||||||||||||
[3] | The $3.8 million loss for the fourth quarter of 2014 was primarily due to OREO expenses of $3.8 million. | ||||||||||||||||||
[4] | The $6.2 million loss for the second quarter of 2014 was primarily due to provision for loan losses expense of $6.3 million. | ||||||||||||||||||
[5] | The sum of the quarterly net income (loss) per share (basic and diluted) differs from the annual net income (loss) per share (basic and diluted) because of the differences in the weighted average number of common shares outstanding and the common shares used in the quarterly and annual computations as well as differences in rounding. |
Note 24 - Contingencies (Detail
Note 24 - Contingencies (Details) | Jul. 16, 2013USD ($) | Dec. 17, 2012USD ($) | Jun. 18, 2010USD ($) | Dec. 31, 2009USD ($) | Dec. 31, 2007USD ($) | Dec. 31, 2015USD ($) |
Note 24 - Contingencies (Details) [Line Items] | ||||||
Loss Contingency Accrual | $ 2,200,000 | |||||
Loss Contingency, Number of Plaintiffs | 3 | |||||
Signature Point Litigation [Member] | ||||||
Note 24 - Contingencies (Details) [Line Items] | ||||||
Loss Contingency Accrual | $ 1,500,000 | |||||
Loss Contingency, Estimate of Possible Loss | $ 26,000,000 | |||||
Miller’s Health System Inc. Employee Stock Ownership Plan Litigation [Member] | ||||||
Note 24 - 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 24 - Contingencies (Details) [Line Items] | ||||||
Alleged Imprudent and Disloyal Purchase of Stock Authorized | $ 90,000,000 | |||||
Compensatory Damages [Member] | Signature Point Litigation [Member] | ||||||
Note 24 - Contingencies (Details) [Line Items] | ||||||
Loss Contingency, Damages Awarded, Value | $ 1,515,000 | |||||
Punitive Damages [Member] | Signature Point Litigation [Member] | ||||||
Note 24 - Contingencies (Details) [Line Items] | ||||||
Loss Contingency, Damages Awarded, Value | $ 5,500,000 | |||||
Minimum [Member] | SBAV LP Litigation [Member] | ||||||
Note 24 - Contingencies (Details) [Line Items] | ||||||
Loss Contingency, Damages Sought, Value | $ 4,500,000 | |||||
Maximum [Member] | SBAV LP Litigation [Member] | ||||||
Note 24 - Contingencies (Details) [Line Items] | ||||||
Loss Contingency, Damages Sought, Value | $ 5,000,016 |